Page 1

The magazine for coin collectors and investors

February 2019

COINAGE

U.S. $4.99 • Vol 55 No. 2 • Issue code: 2019-02 • Feb. 2019 Display until 02/19/2019 • coinagemag.com

02

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71658 02039

9


“The Greatest Treasure Ever-Found.” Life Magazine SS CENTRAL AMERICA

Millions of Dollars of

Sunken Treasure sure Can Be Yours!

There is a sense of excitement whenever sunken treasure is discovered. In March 1992, Life Magazine called the SS Central America “The Greatest Treasure Ever Found.” Back in September of 1857, major New York banks, business and individuals were eagerly awaiting the arrival of the SS Central America with a large shipment of California Gold Rush bullion, ingots, nuggets, gold dust and assorted coins. When news came through the telegraph wires that the ship had sunk off the coast of North Carolina, the country went into a panic. It was a time when the country relied on gold to back its banking transactions. Banks closed, businesses went bankrupt and the financial Panic of 1857 deepened. This is the gripping story of the ill-fated sailing in 1857. Some initial gold was recovered and quickly sold in 2000, but many of us were wondering if we would ever lay eyes on more of this treasure again. Now, finally, more of the ship’s treasure was recovered in 2014 and is now available – including some of the gold & silver coins and gold dust recovered! Rescue your own piece of the SS Central America treasure before it is quickly gone again! For more pictures and information on the Ship of Gold go to: www.universalcoin.com/treasure

Just Released Rare PCGS Certified SS Central America Silver Dimes

H CALL

4Well-preserved Well-preserved shipwreck dimes are very rare and these include a pinch of gold A very large bag, about the size of a volleyball, was found in the bottom of the unopened purser’s safe of the S.S. Central America, a heavy cast iron box. This bag contained mostly U.S. silver coins. The majority of the money was in dimes, and it quickly became obvious that what was discovered was the “cash box” of the shipwreck itself, a truly marvelous historical find. These dimes have survived without the corrosion seen on most silver coins found on shipwrecks. This is undoubtedly due to the oxygen-starved (anaerobic) conditions within the safe, a deep-sea time capsule. The safe was not water tight, but it essentially sealed off the interior environment and its chemistry from the outside seabed environment. The result was that even the canvas bag holding these coins did not degrade significantly. The thousands of dimes, along with associated larger silver coins (quarters and half dollars) and small gold coins ($1, $2.50, and $5 U.S. gold coins) made up the working money of the ship as it traveled between New York and Panama. The sailors of the labor class were paid one to three dimes a day. There was $1,586.55 in this bag of the “ship’s money” when it was recovered. Remember that in 1857 the S.S. Central America was on its 44th voyage to Panama and back, since launching in November of 1853. This was a well-established business, and here we get to look at the life-blood of that business, its working capital. It is fascinating to see everything that was in circulation. The dimes range from 1796 to 1857. These coins are literally a piece of history in your hands. Call us today to own your piece of history while supplies last.

LIMITED AVAILABILITY

Shipwreck gold coins going fast, CALL TODAY!

Ask an account representative about the different dates, grades and denominations still available.

FREE SHIPPING On advertised offers over $99 (add $6 on orders under $99)

FOR PRICING H

PCGS Certified Pinch of Gold

In individually numbered holders, certified as recovered from the 1857 shipwreck by Chief Scientist Bob Evans. As low as

Only

$

99 00 each

check/wire price Limit 20 per household

Genuine California gold rush gold dust is rare as it was typically melted for ingot or coin production.

1.800.822.4653 Vault Verification: UCOAGGS0219 Offer Expires: 02/15/19 Money Order or Check

Call for large quantity & bulk shipping terms.

Prices are subject to change in response to market conditions, and availability is not guaranteed. Please read important customer disclosures on our website or that accompany products purchased, including arbitration agreement. Gold Basis : $1,235 - Images for representation only and are not to scale. NO DEALERS PLEASE

Dr. Mike Fuljenz’s

Shop Online

Follow America’s Gold Expert Dr. Mike Fuljenz Texas Telemarketing Registered #2010-0004 • Texas Registered Precious Metal Dealer #0100913 • Beaumont, TX Registered Precious Metal Dealer #2012-04

COINage-Feb Issue.indd 2

12/13/2018 8:53:22 PM


February 2019

I

Volume 55

I

Number 2

8

14

NO SILVER LINING

EVERYTHING YOU WANTED TO KNOW ABOUT AMERICA’S EARLY SILVER COINS Collectors Advance to Silver After Base Metal

Silver Dollars Are a Wealth of History but Take Up Lots of Space

By Tom DeLorey

By James Passin

20

26

54

SCOTT TRAVERS’ TOP 12 COINS FOR 2019

WORTH ITS WEIGHT IN SILVER

SILVER COINAGE TOPS POPULARITY LIST

The Stability Trend Will Be Your Friend

Coinage Content Changes Reflect the Times

Secrets to Big Profits in Silver Coin Buying and Selling

By Scott A. Travers

By R.W. Julian

By Joshua McMorrow-Hernandez

DEPARTMENTS It’s News to Me

4

Market Report

6

Price Guide

32

Advertising Index

60

COINage Kids

61

Take Note

62

On rare occasions, inadvertent typographic errors occur in coin prices listed in advertisements. For that reason, advertisements appearing in COINage should be considered as requests to inquire rather than as unconditional offers of sale. All prices are subject to change without notice.

PRINTED IN U.S.A.

COINage (ISSN 0010-0455) is published monthly by Beckett Media LLC, 4635 McEwen Rd., Dallas, TX 75244. Periodicals postage paid at Dallas, TX 75260 and at other mailing offices. Printed in U.S.A. Copyright 2018 by Beckett Media, LLC. POSTMASTER: send address changes to COINage c/o Beckett Media, 4635 McEwen Rd., Dallas, TX 75244 or subscriptions@beckett.com. © 2019 by Beckett Media, LLC. All rights reserved. Reproduction of any material from this issue in whole or in part is strictly prohibited.

Cover Photos: First U.S. Silver: Heritage Auctions; Worth Its Weight in Silver: Heritage Auctions; Scott Travers’ Top 12 Coins for 2019: Heritage Auctions; Trump’s Coin Market Boom Push: Getty, Professional Coin Grading Service


NORWOOD COIN

FAST DEPENDABLE SERVICE QUALITY COINS AT COMPETITIVE PRICES SEND FOR OUR FREE CATALOGUE

501 Columbia Turnpike • Rensselaer, NY 12144

Special Prices On 1st Year TYPE COINS AND STARTER SETS

CHOICE PROOF SETS

Government Issue Superior Quality 1954......................95.50 1955 FP...............125.50 1956......................61.50 1957......................29.50 1958......................32.50 1959......................29.50 1960......................28.50 1960 SD ................32.50 1961......................24.00 1962......................23.50 1963......................23.50 1964......................24.00 1968-S ....................7.50 1969-S ....................7.50 1970-S ..................11.50 1971-S ....................5.50 1972-S ....................5.50 1973-S ....................9.00 1974-S ..................11.00 1975-S ..................10.50 1976-S ....................9.50 1976-S 3pc ...........25.50 1977-S ....................8.50 1978-S ....................7.50 1979-S ....................8.50 1979-S T2 .............55.50 1980-S ....................6.50 1981-S ....................6.50 1982-S ....................6.00 1983-S ....................6.00 1984-S ....................6.00 1985-S ....................5.50 1986-S ....................7.50

1987-S ....................5.50 1988-S ....................6.50 1989-S ....................5.50 1990-S ....................7.00 1991-S ...................5.50 1992-S ....................6.00 1993-S ....................6.50 1994-S ....................6.50 1995-S ..................11.50 1996-S ....................9.00 1997-S ....................9.50 1998-S ..................11.50 1999-S ....................9.50 2000-S ....................7.50 2001-S ..................11.50 2002-S ....................9.50 2003-S ....................8.50 2004-S ..................11.50 2005-S ....................7.50 2006-S ..................10.50 2007-S ..................16.50 2008-S ..................35.00 2009-S ..................24.50 2010-S ..................35.50 2011-S ..................35.50 2012-S ................119.00 2013-S ..................35.50 2014-s ..................39.50 2015-S ..................37.50 2016-S ..................50.00 2017-S ..................32.00 2018-S ..................31.50

CHOICE MINT SETS Government Issue

1962........................42.50 1963........................35.50 1964........................32.50 1965 SMS ...............11.50 1966 SMS ...............11.50 1967 SMS ...............11.50 1968..........................8.50 1969..........................8.50 1970........................19.50 1971..........................5.50 1972..........................4.50 1973........................13.50 1974..........................7.50 1975..........................9.50 1976..........................9.50 1976 3pc .................18.50 1977..........................8.50 1978..........................8.50 1979..........................6.50 1980..........................7.00 1981........................11.50 1984..........................5.50 1985..........................5.50 1986..........................9.00 1987..........................5.50 1988..........................5.50 1989..........................4.50 1990..........................5.00

1991..........................6.00 1992..........................5.50 1993..........................6.50 1994..........................5.50 1995..........................5.50 1996........................19.50 1997..........................5.50 1998..........................5.50 1999..........................9.50 2000..........................9.50 2001..........................9.50 2002..........................9.50 2003........................11.50 2004........................10.50 2005..........................9.50 2006........................10.50 2007........................20.50 2008........................35.00 2009........................25.50 2010........................24.50 2011........................24.50 2012........................69.50 2013........................30.50 2014........................30.50 2015........................30.00 2016........................34.00 2017........................25.95 2018........................25.95

SILVER PROOF SETS 1992-S ....................20.50 1993-S ....................27.50 1994-S ....................25.50 1995-S ....................50.50 1996-S ....................28.50 1997-S ....................33.50 1998-S ....................24.50 1999-S ....................85.50 2000-S ....................33.50 2001-S ....................45.50 2002-S ....................37.50 2003-S ....................37.50 2004-S ....................37.50 2005-S ....................37.50

2006-S ....................37.50 2007-S ....................42.50 2008-S ....................42.50 2009-S ....................49.50 2010-S ....................49.50 2011-S ....................65.50 2012-S ..................215.50 2013-s ....................65.50 2014-s ....................59.50 2015-S ....................59.50 2016 -S ...................75.00 2017 -S ...................58.00 2018 -S ...................58.00

1909 LINC 1¢ CH BU R/B....................................................................19.95

5 DIFF MERCURY 10¢* CH BU ............................................................39.00

1909-VDB LINC 1¢ CH BU R/B ...........................................................19.95

5 DIFF PRE 1965 SILVER* ROOSEVELT 10¢ GEM PF...........................19.00

1883 NC LIBERTY 5¢ CH BU ...............................................................25.95 1913 T1 BUFFALO 5¢ CH BU ..............................................................29.95

4 DIFF PRE 1965 SILVER* WASHINGTON 25¢ PRF..............................29.00

1913 T2 BUFFALO 5¢ CH BU ..............................................................34.95

10 DIFF CLAD PRF*WASH 25¢ PRE 1999 .............................................9.95

1938 JEFFERSON 5¢ CH BU ...............................................................12.95

5 Diff WALK LIB 50¢* CH AU ...............................................................99.00

1916 MERCURY 10¢ CH BU FSB ........................................................49.00

10 DIFF FRANKLIN 50¢* CH BU ........................................................189.00

1917 T1 STAND LIB 25¢ CH BU FH ..................................................249.00 1932 WASHINGTON 25¢ CH BU..........................................................29.00

3 DIFF FRANKLIN 50¢* GEM PROOF ...................................................45.00

1964 KENNEDY 50¢ GEM PROOF .......................................................19.00

10 DIFF KENNEDY 50¢* GEM CLAD PROOF........................................29.95

1971-S TO 1974-S SIL IKE $ALL 4 CH BU..........................................45.00

*DATES OF OUR CHOICE

MORGAN & PEACE SILVER DOLLARS Very Select Brilliant Uncirculated Hand Selected for Full Luster Premium Quality! MS61+ Morgan Dollars 1878 7F .............. 89.00 1878 8F ............ 170.00 1878 7/8 ........... 170.00 1878-S ................ 69.00 1878-CC ........... 385.00 1879.................... 59.00 1879-O ............... 99.00 1879-S ................ 55.00 1880.................... 47.00 1880-O ............... 99.00 1880-S ................ 52.00 1880-CC ........... 490.00 1881.................... 55.00 1881-O ............... 55.00 1881-S ................ 52.00 1881-CC ........... 495.00 1882.................... 47.00 1882-CC ........... 205.00

Morgan Dollars 1882-O ............... 49.00 1882-S ................ 57.00 1883.................... 49.00 1883-O ............... 40.00 1883-CC ........... 205.00 1884.................... 49.00 1884-O ............... 40.00 1884-CC ........... 195.00 1885.................... 40.00 1885-O ............... 40.00 1885-S .............. 255.00 1885-CC ........... 695.00 1886.................... 43.00 1886-S .............. 325.00 1887.................... 43.00 1887-O ............... 75.00 1887-S .............. 129.00 1888.................... 49.00

Morgan Dollars 1888-O ............... 72.00 1888-S .............. 325.00 1889.................... 40.00 1889-S .............. 255.00 1890.................... 44.00 1890-O ............... 85.00 1890-S ................ 70.00 1891.................... 70.00 1891-S ................ 85.00 1896.................... 44.00 1897.................... 44.00 1897-S ................ 82.00 1898.................... 44.00 1898-O ............... 50.00 1898-S .............. 249.00 1899.................. 245.00 1899-O ............... 49.00 1900.................... 45.00

1900-O ............... 44.00 1900-S .............. 295.00 1901-O ............... 49.00 1901-S .............. 519.00 1902.................... 85.00 1902-O ............... 49.00 1903.................... 62.00 1903-O ............. 390.00 1904.................. 125.00 1904-O ............... 52.00 1921.................... 42.00 1921-D................ 45.00 1921-S ................ 45.00 Peace Dollars .......... 1922.................... 32.00 1922 D ................ 47.00 1922 S ................ 48.00 1923.................... 32.00 1923 D ................ 75.00

Peace Dollars .......... 1923 S ................ 46.00 1924.................... 32.00 1924 S .............. 239.00 1925.................... 34.00 1925 S ................ 95.00 1926.................... 55.00 1926 D ................ 85.00 1926 S ................ 55.00 1927.................... 79.00 1927 D .............. 175.00 1928.................. 399.00 1928 S .............. 189.00 1934.................. 115.00 1934 D .............. 125.00 1935.................... 80.00 1935 S .............. 270.00

COMMON DATE ROLLS

COMPLETE SETS

Full G & Better

(BU Sets in Deluxe Album)

Indian Cents (50 pcs.) .................................................... 69.00 Liberty Nickels (40 pcs.) ................................................ 49.00 Buffalo Nickels (40 pcs.) Full Date ................................. 28.00 Barber Dimes (50 pcs.) ................................................ 139.00 Mercury Dimes (50 pcs.) ............................................... 89.00 Walking Lib. Halves (20 pcs.)* ..................................... 169.00 Kennedy Halves (1964) (20 pcs.) BU ........................... 169.00 Morgan Dollars VF/XF ( NO 21) .................................... 489.00 Mixed Dates of Our Choice SEND OR CALL US 518-477-2193 FOR FREE MONTHLY PRICE LIST

G/VG or Better

CH BU

Jefferson Nickels (1938-1961) ......................................................................49.00

(38-64)

340.00

Roosevelt Dimes (1946-1964) .......................................................................79.00 ..................................249.00 Washington Quarters (1941-1964) ..............................................................469.00 ..................................719.00 Franklin Halves (1948-1963) .......................................................................255.00 ..................................760.00 Peace Dollars (1921-35) F & Better .............................................................950.00 .........................................— Eisenr. Dollars (Incl. Prfs.) 32 Coins.....................................................................— ..................................199.00 S.B.A. Dollars (Incl. Prfs.) 18 Coins......................................................................— ..................................249.00

SILVER EAGLES GEM PROOF

1986........................... 30.00 ......................42.95 1987........................... 22.00 ......................42.95 1988........................... 26.00 ......................42.95 1989........................... 26.00 ......................42.95 1990........................... 26.00 ......................42.95 1991........................... 26.00 ......................42.95 1992........................... 26.00 ......................42.95 1993........................... 26.00 ......................59.95 1994........................... 37.00 ....................129.00 1995........................... 29.00 ......................49.00 1996........................... 59.00 ......................49.00

C

Lincoln Cents (1941-1958) R / B .....................................................................7.95 ....................................69.00

SEND OR CALL US AT 518-477-2193 FOR FREE MONTHNLY PRICE LIST CH BU

1/2¢ 1/2¢ 1/2¢ 1¢ C 1¢ C 1¢ B 1¢ F 1¢ 1 1¢ IN 1¢ IN 2¢ P 3¢ N 3¢ S 1/2D 1/2D 1/2D 1/2D 5¢ S 5¢ S 5¢ L 5¢ L 5¢ B 10¢ 10¢ 10¢ 10¢ 10¢ 20¢ 25¢ 25¢ 25¢ 25¢ 25¢ 25¢ 25¢ 25¢ 50¢ 50¢ 50¢ 50¢ 50¢ 50¢ 50¢ $1 S $1 S $1 T

CH BU

GEM PROOF

1997........................... 30.00 ......................49.00 1998........................... 24.00 ......................45.00 1999........................... 24.00 ......................45.00 2000........................... 20.50 ......................45.00 2001........................... 20.50 ......................42.00 2002........................... 20.50 ......................42.00 2003........................... 20.50 ......................42.00 2004........................... 20.50 ......................42.00 2005........................... 20.50 ......................42.00 2006........................... 20.50 ......................42.00 2007........................... 20.50 ......................42.00

CH BU

GEM PROOF

2008........................... 20.50 ......................42.00 2009........................... 20.50 ..........................n/a 2010........................... 20.50 ......................42.00 2011........................... 20.50 ......................42.00 2012........................... 20.50 ......................42.00 2013........................... 20.50 ......................42.00 2014........................... 20.50 ......................42.00 2015........................... 20.50 ......................42.00 2016........................... 20.50 ......................53.95 2017........................... 24.00 ......................55.00 2018........................... 20.50 ......................59.00

Alba Arka Boo Bay Cali Colu Con Dela Gra Hue Lex Mai Ore Pilg Rho San Ses Ston Texa York

2

002-003 Norwood Jan19.indd 2 COINage-Feb Issue.indd 2

11/19/2018 8:52:59 2:49:39 PM PM 12/13/2018

002-003


0

0

0

5

0

0

0

5

. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Strictly Graded Better Date

STRICTLY GRADED CIRCULATED

MORGAN & PEACE DOLLARS

TYPE COINS IN CHOICE GRADES (DATES OF OUR CHOICE) 1/2¢ DRAPED (1800-08) 1/2¢ CLASSIC (1809-36) 1/2¢ BRAID (1849-57) 1¢ CLASSIC (1808-14) 1¢ CORONET (1816-39) 1¢ BRAIDED (1839-57) 1¢ FLYING EAGLE 1¢ 1859 INDIAN 1¢ IND. C.N. (1860-64) 1¢ IND BR (1864-09) 2¢ PIECE (1864-73) 3¢ NICKEL (1865-81) 3¢ SILVER (1851-73) 1/2D BUST (1829-37) 1/2D STD STRS (1838-60) 1/2D STD ARRS (1853-55) 1/2D STD LEG (1860-73) 5¢ SHIELD RAYS (1866-67) 5¢ SHIELD NR (1867-83) 5¢ LIBERTY NC (1883) 5¢ LIBERTY WC (1883-12) 5¢ BUFFALO (1913 T1) 10¢ SM SZ BUST (1829-37) 10¢ STD STARS (1838-60) 10¢ STD ARRS (1853-55) 10¢ STD LEG (1860-91) 10¢ BARBER (1892-1916) 20¢ PIECE (1875-78) 25¢ SM SZ BUST (1830-37) 25¢ STD N.M. (1838-66) 25¢ STD ARRS/RAYS (1853) 25¢ STD ARRS (1854-55) 25¢ STD W.M. (1867-91) 25¢ BARBER (1892-12) 25¢ S.L. T1 (1917) 25¢ S.L. T2 (1925-30) 50¢ CAP BUST (1807-36) 50¢ BUST R.E. (1836-39) 50¢ STD N.M. (1839-66) 50¢ STD A/R (1853) 50¢ STD ARRS (1854-55) 50¢ STD W.M. (1866-91) 50¢ BARBER (1892-1915) $1 STD N.M. (1840-66) $1 STD W.M. (1867-73) $1 TRADE (1873-85)

CH VF 220.00 85.00 85.00 895.00 63.00 35.00 45.00 42.00 25.00 4.50 25.00 22.00 59.00 99.00 27.00 27.00 28.00 85.00 36.00 10.00 12.00 19.00 79.00 25.00 32.00 22.00 8.00 175.00 149.00 40.00 42.00 42.00 38.00 27.00 79.00 14.00 89.00 120.00 79.00 95.00 80.00 80.00 119.00 425.00 425.00 185.00

CH XF 390.00 99.00 99.00 $125.00 50.00 125.00 95.00 45.00 9.00 40.00 35.00 65.00 150.00 57.00 57.00 44.00 139.00 59.00 12.00 29.00 21.00 249.00 47.00 49.00 30.00 24.00 215.00 370.00 69.00 159.00 75.00 65.00 55.00 115.00 30.00 149.00 190.00 119.00 249.00 135.00 110.00 185.00 520.00 500.00 275.00

Date 1879-CC 1883-S 1884-S 1885-S 1886-S 1888-S 1890-CC 1891-CC 1891-O 1892 1892-CC 1892-O 1892-S 1893 1893-CC 1893-O 1894-O 1894-S 1895-O 1895-S 1896-O 1896-S 1897-O 1901 1903-S 1904-S 1921 Peace 1928 1934-S

VF 295.00 35.00 45.00 49.00 85.00 140.00 105.00 105.00 30.00 42.00 230.00 35.00 120.00 290.00 625.00 349.00 50.00 109.00 275.00 595.00 40.00 49.00 40.00 55.00 180.00 59.00 99.00 239.00 75.00

5 Diff Pre 1900 Ch BU* $ “P” Mints $229.00 5 Diff. Pre 21 Ch BU* $ “O” Mints $229 .00 5 Diff. Pre 21 Ch BU* $ “S” Mints $249.00 3 Diff. “CC” Ch BU* $ Dollars $599.00 20 Diff. Dates Ch BU* $ Pre 21 $895.00 / Roll

Choice B.U.

0

0

0

0

0

F

0 a 0 0 0 0 0 0 5 0 0

2:49:39 PM

— 149.00 795.00 95.00 290.00 1,525.00 525.00 149.00 299.00 319.00

Starter Groups

0

AU $ — 109.00 199.00 119.00 149.00 190.00 219.00 209.00 45.00 82.00 619.00 65.00 1,500.00 390.00 — 800.00 269.00 479.00

Choice Brilliant Uncirculated

COMMEMORATIVE HALF DOLLARS

Albany ............................................................. 215.00 Arkansas ........................................................... 95.00 Boone .............................................................. 139.00 Bay Bridge ....................................................... 139.00 Calif. Jubilee .................................................... 189.00 Columbian Expo (1893)...................................... 29.00 Connecticut ..................................................... 220.00 Delaware ......................................................... 209.00 Grant ............................................................... 130.00 Huegenot ......................................................... 129.00 Lexington........................................................... 85.00 Maine .............................................................. 135.00 Oregon Type .................................................... 155.00 Pilgrim Type (1920)............................................ 90.00 Rhode Island...................................................... 99.00 San Diego Type (1935-S) ................................... 99.00 Sesquicentennial ............................................... 90.00 Stone Mountain ................................................. 65.00 Texas Type ....................................................... 139.00 York ................................................................. 159.00

XF 719.00 49.00 75.00 60.00 115.00 160.00 139.00 139.00 36.00 52.00 419.00 49.00 310.00 270.00 1,495.00 525.00 95.00 189.00 450.00 950.00 49.00 220.00 49.00 99.00 340.00 190.00 119.00 269.00 139.00

MORGAN DOLLAR

U

0

FRANKLIN HALVES*

*Dates of Our Choice

S TRY U ! TODAY

CH CH/Brilliant AU Uncirculated 1948................................... 15.00 ...................19.00 1948-D ............................... 17.00 ...................21.00 1949................................... 17.00 ...................32.00 1949-D ............................... 35.00 ...................69.00 1949-S ............................... 39.00 ...................89.00 1950................................... 17.00 ...................32.00 1950-D ............................... 19.00 ...................29.00 1951................................... 17.00 ...................19.00 1951-D ............................... 22.00 ...................35.00 1951-S .................................... — ...................29.00 1952................................... 17.00 ...................19.00 1952-D ............................... 17.00 ...................19.00 1952-S .................................... — ...................85.00 1953................................... 19.00 ...................25.00 1953-D ............................... 17.00 ...................19.00 1953-S .................................... — ...................39.00 1954................................... 19.00 ...................19.00 1954-D ............................... 19.00 ...................19.00 1954-S ............................... 22.00 ...................28.00 1955................................... 18.00 ...................24.00 1956................................... 17.00 ...................21.00 1957................................... 17.00 ...................21.00 1957-D ............................... 17.00 ...................22.00 1958................................... 15.00 ...................19.00 1958-D ............................... 15.00 ...................19.00 1959................................... 15.00 ...................19.00 1959-D ............................... 15.00 ...................19.00 1960................................... 15.00 ...................19.00 1960-D ............................... 15.00 ...................19.00 1961................................... 15.00 ...................18.00 1961-D ............................... 14.00 ...................18.00 1962................................... 14.00 ...................18.00 1962-D ............................... 14.00 ...................18.00 1963................................... 13.00 ...................15.00 1963-D ............................... 13.00 ...................15.00

*Group of 6 Different

Silver Kennedy Halves

WALKING LIBERTY*

ior Super y! Qualit

CH CH/Brilliant AU Uncirculated 1941................................... 21.00 .....................29.00 1941-D ............................... 21.00 .....................35.00 1941-S ............................... 29.00 .....................79.00 1942................................... 19.00 .....................29.00 1942-D ............................... 23.00 .....................42.00 1942-S ............................... 23.00 .....................45.00 1943................................... 21.00 .....................29.00 1943-D ............................... 25.00 .....................49.00 1943-S ............................... 24.00 .....................49.00 1944................................... 21.00 .....................37.00 1944-D ............................... 24.00 .....................49.00 1944-S ............................... 35.00 .....................49.00 1945................................... 23.00 .....................29.00 1945-D ............................... 24.00 .....................35.00 1945-S ............................... 35.00 .....................49.00 1946................................... 24.00 .....................34.00 1946-D ............................... 42.00 .....................55.00 1946-S ............................... 42.00 .....................55.00 1947................................... 24.00 .....................49.00 1947-D ............................... 32.00 .....................59.00

1921 PDS (all 3)

CH Brilliant Uncirculated

MORGAN DOLLARS

65, 66, 67, 68-D, 69-D and the key date 70-D

$129.00

$39.00 Per Group GEORGE WASHINGTON SILVER COMMEM HALF DOLLARS 1982-S Mint Seated Proof . . . . . 9 .95 1982-D Mint Seated BU . . . . . . . 9 .95

Ch BU

Per Group

STATUE OF LIBERTY COMMEMS PROOFS

Original Boxes 1986-S Proof 50¢ . . . . . . . . . . . . 4 .50 1986-S 2 pc . Proof Set . . . . . . 26 .00

Group of 4 Different

Roll of 20 Mixed Date

BUST HALVES

PEACE DOLLARS

$319.00

$629.00

Very Fine and Better Dates of our choice

Very Sel. BU Roll

NORWOOD COIN

501 COLUMBIA TNPK • RENSSELAER, NY 12144 Please add $7 .95 Phone Fax for postage and insurance 518-477-2194 518-477-2193 per order . Coins must be shipped to credit card holders billing address.

Personal Checks & M .O . Gladly Accepted . Add $7 .95 Postage & Insurance on total order . VISA, MC, Discover and AmEx accepted . Full 10-day return privilege . P & H not refundable . NY residents Add 8% Sales Tax . Coins subject to prior sale . Coins removed from original holder are considered sold . All coins guaranteed genuine .

*Prices subject to change due to market conditions. TRY US TODAY

MON.-FRI. 10am to 5:30pm est SAT. 10am to 3pm est

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002-003 Norwood Jan19.indd 3 COINage-Feb Issue.indd 3

11/19/2018 2:50:12 12/13/2018 8:53:00 PMPM


IT’S NEWS TO ME

by Donn Pearlman

A Cent for Your Thoughts

EDITORIAL MAGGIE JUDKINS Editorial Director SCOTT A. TRAVERS Executive Editor ANTOINETTE RAHN Editor Editorial Correspondence: MAGGIE JUDKINS (218) 390-6841 editor@coinagemag.com CONTRIBUTING WRITERS DONN PEARLMAN MIKE FULJENZ DAVID L. GANZ R.W. JULIAN JOSHUA MCMORROW-HERNANDEZ TOM DELOREY CRYPTOCURRENCY EDITOR JAMES PASSIN

ART DEPARTMENT LINDSEY JONES - Art Director ERIC KNAGG - Design

PRICE ANALYST SAM ZIMMER

ADVERTISING KACY BJORNSON Advertising Sales Executive kbjornson@beckett.com

PRESIDENT SANDEEP DUA

FOUNDER JAMES L. MILLER SUBSCRIPTION QUESTIONS? (855) 777-2325 subscriptions@beckett.com

4 COINAGEMAG.COM

Curate vs. Conserve; Penny vs. Cent

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reader cordially disagreed with my use of the word “curated” in the November 2018 edition of COINage. The column, headlined “Curated, Not Cleaned,” focused on collector misunderstanding about cleaning coins. It appears I may have a misunderstanding about the word curated. The reader politely wrote that instead of curated, the word should have been conserved: “… ‘curated’ has nothing to do with the cleaning of coins ... Curation is the process of assembling, management and presentation of a collection. Conservation may be related to management but is not the same as curated,” he counseled. Some experts involved with the recovery and cataloging of the fabulous California Gold Rush sunken treasure recovered from the SS Central America, the legendary “Ship of Gold” that sank in 1857, have been using “curated” for 19 years to describe their process of removing ocean sediment from the thousands of historic coins retrieved from nearly a mile under the Atlantic Ocean surface. I took my vocabulary cue from them as well as hobby news media stories that also used that word. Are we wrong? I leave that to linguists, curators, and readers who think I didn’t rate with curate. Numismatics has other examples of debated and deliberated words. Probably the most frequently heard complaint and cringe-producing reaction is when the word “penny” is used to describe one-cent denomination U.S. coins. Technically, the United States has never minted pennies. That’s a British term. The official designation in the U.S. is cents (and also half cents that were minted from 1793 to 1857). To the average person on the street, though, they’re pennies. We have penny loafers, penny-ante poker, and a penny for your thoughts. Former United States Mint Director Donna Pope frequently used the words penny and pennies when discussing that denomination during her 1981 to 1991 tenure. Some die-hard hobbyists protested her choice of

While “a cent for your thoughts” doesn’t have the same ring to it, “cent” is the technically correct term for the United States’ one-cent-denominated coin, even though the Mint itself refers to it as a “penny” on its website.

words. However, even today, the United States Mint website states: “The penny is the United States’ one-cent coin. Every penny you’ve ever spent probably had Abraham Lincoln on it. He’s been on the front (obverse) of the penny since 1909!” Another numismatic versus everyday language difference is “bill” and “note” or “banknote.” Non-collectors will ask if you “have change for a $10 bill” rather than referring to the paper money item as a “note.” But when it is a numismatic item, that $10 bill becomes a note: National, Treasury, Demand, Federal Reserve or United States Note. To attract new collectors, we need to recognize vernacular references to coins and paper money and respectfully educate newcomers, not harshly admonish them the first time they unknowingly do not use the “official” word. Sometimes misplaced modifiers in numismatics create humorous images, such as the names of two hobby organizations, the Ancient Coin Collectors Guild and the Association of Dedicated Byzantine Collectors. Despite these names, one group is not composed of grizzled collectors, and members of the other club are not excessively complicated. That’s enough for now. I need to conserve my energy to curate my thoughts.• Donn Pearlman is a former American Numismatic Association Governor and recipient of dozens of writing and broadcasting awards.


CAC Stickers Do Not Add Value! Then why do CAC stickered coins bring a premium? While it is true that CAC verified coins bring a premium in the market, the “little green” sticker is not what adds the value. Truth is, with or without a CAC sticker, a quality coin will always bring a premium. $ 5.5 billion 1,100,000 CAC has evaluated over 1,000,000 coins with a market value over $$55 billion. Only those coins which meet stringent standards for quality within a grade are awarded a sticker. That is why CAC stickered coins bring a premium - they are placed only on quality coins.

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What’s more, CAC is a powerful market maker for its stickered coins. In fact, since its 500,000,000 worth of coins. inception, CAC has purchased nearly $500,000,000 00 $550,000,0 So the CAC sticker does not add value - it is just an easy way to identify coins that are solid for the grade. Having confidence in the value of a coin is like hitting the jackpot.

“Because Confidence is Priceless”

www.caccoin.com

COINage-Feb Issue.indd 5

now C A C over has embers m 1900

12/13/2018 8:53:01 PM


MARKET REPORT

Threat of Trump Impeachment Could Lead to Rare Coin Bull Market Nixon Impeachment-Era Saw Historic Market Run-up in Coins

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recent episode of “Meet the Press,” a Sunday political talk show, opened with an interview of liberal billionaire hedge fund manager and campaign investor Tom Steyer. Steyer has spent tens of millions of dollars on a televised ad campaign to impeach U.S. President Donald Trump, and Steyer plans to spend millions more on a digital ad campaign to call for the president’s impeachment. Also, court documents were made public by special counsel Robert S. Mueller III detailing new allegations against Michael Cohen, the president’s former lawyer. Representative-elect Alexandria Ocasio-Cortez said these reports provide enough evidence for starting impeachment proceedings against President Trump. Ms. Ocasio-Cortez said these reports are “really concerning” and said she is interested in learning what else investigators will dig up now that Cohen, in a recent guilty plea, admitted that he lied to Congress about the work he did on a Trump Tower Moscow project in the middle of the campaign. “I’ve been supportive of impeachment for some time now,” she told reporters. “I think this just adds to the case.” In 1972 through 1974, it took about two years from the Watergate break-in to President Richard M. Nixon’s resignation for the forces of Congress and two investigative journalists at the Washington Post to bring a sitting president to resign, avoiding the inevitable vote against him in an impeachment trial. If the impeachment process begins next year, we may see a replay of the 1973-1974 Nixon impeachment-era markets in 2019-2020. In 1973-1974, the Dow Industrial declined 45% from 1051.7 on January 11, 1973, to 577.6 on December 6, 1974. That coincided with one of the biggest bull markets in gold and rare coins. Gold more than tripled, from less than $60 to more than $180, while the Rare Coin CU 3000 index rose 348% – more than four-fold. There was an impeachment threat in the Reagan years, too. On March 6, 1987, Representative Henry B. Gonzales, a democrat of Texas, introduced articles of impeachment against President

6 COINAGEMAG.COM

by Mike Fuljenz Ronald W. Reagan regarding the Iran-Contra affair. It’s not wellremembered today, but there were hearings running for three months – from May 5 to August 6, 1987 – including testimony by Oliver North and others, followed by Congressional Committee meetings investigating Iran-Contra through the fall. The impeachment threat wasn’t over until the final committee report came out in November, after the stock market plummeted a startling 36%. At the same time, we saw the beginnings of a large bull market in rare coins. From 1986 to 1990, the Rare Coin CU 3000 Index rose 665% at a time when gold bullion and stocks were essentially flat. The bottom line is that it has been prudent to buy rare coins when impeachment threats are in the air. As in both of those past episodes of political uncertainty and wild stock market gyrations, it seems to pay to take some stock market profits off the table and add to your coin collection. It never pays to wait too long since stocks can fall very fast, and truly high-quality rare coins can rise quickly in times of uncertainty. Central Banks Are Loading Up on Gold Once Again The World Gold Council reported that central bank demand for gold rose 22% in the third quarter of 2018 vs. the same quarter in 2017, reaching the highest level of quarterly demand since Q4 2015. This also marks the highest year-to-date central bank demand in the first nine months of any year since 2015. In the third quarter, Russia added the most of any nation – 92.2 metric tons – pushing its total reserve to more than 2,000 tons, as Russia is basically divesting itself of most of its U.S. Treasuries in exchange for gold. Turkey was the second-largest gold accumulator last quarter, adding 18.5 tons in a quarter when its beleaguered currency (the lira) lost 25% to the dollar. India is next in line, adding 13.7 tons of gold last quarter. Kazakhstan was the fourth biggest buyer last quarter, adding 13.4 tons, bringing its total holdings to 335.1 tons, up from just 131 tons five years ago. Over the last five years, the largest accumulators of central bank gold have been Russia and China. Nation Mid-2013 Gold Holdings Russia 996 tons China 1,054 tons

Mid-2018 Holdings 1944 tons 1843 tons

5-Year Gains +95% +75%

Such massive levels of gold buying by Russia and China should raise red flags in Washington, D.C. These two superpowers have been in the process of selling their dollar-based Treasury holdings and buying gold to gain more financial flexibility – something that every wise investor should consider doing now. • Mike Fuljenz, president of Universal Coin & Bullion in Beaumont, Texas, is a leading coin expert and market analyst whose insightful writing and consumer advocacy have earned major honors from the ANA, PNG, NLG, and the Press Club of Southeast Texas. His website is www.universalcoin.com.


QUALITY COINS FROM JACK H. BEYMER

All five six-piece type coin sets are housed in custom Capital Plastics holders, and the coins grade good or better. EARLY TYPE CENTS EARLY TYPE ODD DENOMINATION

Large Cent 1793-1857

Seated Half Dime 1837-1873

Flying Eagle Cent Indian Head Cent 1856-1858 1864-1909

Lincoln Cent 1909-1958

Lincoln Cent 1959 to Date

SET FOR $67.50 EARLY TYPE NICKELS

Shield Nickel 1866-1883

Liberty Nickel 1883-1912

Buffalo Nickel 1913-1938

SET FOR $58.00

PATTERNS 1853 1 cent pattern J151 R6 13-30 known German silver. $2.50 gold coin obverse, one cent in wreath rev PCGS PR62 ....................................2500.00 1865 regular issue three cent nickel, struck in copper J413 R5, 32 or more coins known. PCGS PR64RB CAC ........................2950.00 1868 5 cent pattern aluminum J-629 R8, it may be unique, no auction records. Three cent nickel looking obv. 5 cents within wreath rev PCGS PR63 ....................................9500.00 1869 5 cent pattern nickel J-684 R three cent nickel like obv large V rev PCGS PR62CAM .............................1500.00 1860 half dime, silver a transitional coin as listed on pg 159 in the Redbook. J267 Obv of 1859, rev of 1860. 100 pieces made NGC MS65 lovely color .........6630.00 1870 5 cent pattern copper J-817 R6 seated Liberty obv regular issue rev PCGS PR64BN ...............................2750.00 1871 5 cent pattern copper J-1051 R5 liberty head, simular to 3 cent nickel, wreath with V cents. PCGS MS64BN...............................2000.00 1884 5 cent pattern nickel J-1724 R6 USA around 13 stars, hole in center, five cents with two shields rev PCGS PR63 ..................3000.00 1896 5 cents pattern nickel J-1771 R6 shield obv, large 5 small cents rev PCGS PR61 ....................................2500.00 1896 5 cents pattern aluminum J-1772 R6+ shield obv large 5 small cents rev PCGS PR61 ..............................2150.00 1836 Gobrecht Dollar J-60 The first seated dollar Original coin aliignment A pattern, however 600 coins were delivered to the Bank of the United States, so is it really a pattern? PCGS PR45 ....................19000.00 PCGS EF details, cleaning, lightly cleaned ............................ 11200.00 NGC VG10 ..................................... 9500.00

COLONIAL COINS Colonial coins are listed by page number in the “Redbook”. Most, if not all coins are one of a kind, so please give us second choices.

MASSACHUSETTS SILVER 1652 Pine Tree pg 51 Shilling, Large planchet N5 reversed N in England PCGS EF40 ....................................7750.00 N8.2 NGC VF35 lg planchet no pellets NGC VF35 ......................6000.00 Noe 9 no pellets at trunk of tree reversed N in England NGC AU50 ......................11500.00 ST PATRICKS COINAGE Pg 53 Farthing VF20 detail, very porous......................................185.00 Halfpenny PCGS F12 ........................950.00

U.S. GOLD

Jefferson Nickel 1938 to Date

AMERICAN PLANTATION TOKEN page 53 1/24 real restrike PCGS genuine, cleaned, AU detail ..........................................425.00 WILLIAM WOODS ROSA AMERICANA pg 54-56 1722 1/2 pence D.G. Rex PCGS AU58 ....................................2250.00 1722 2 pence PCGS genuine, environmental damage VF details .............................................300.00 1723 two pence PCI AU55................1700.00 PCGS AU55 ....................................1700.00 WILLIAM WOODS HIBERNIA page 56-57 1722 halfpenny, harp right PCI VF25 ..........................................281.50 1723 farthing dei gratia rex page 56 F15 ......................................95.00 M3.3-Ba.1 R2 PCGS AU55 CAC ........475.00 1723/2 halfpenny, pg 57 EF40 825.00 NGC MS60BN............2300.00 VG10 130.00 VF30 ...........................627.50 1723 halfpenny, page 57 NGC, PCGS MS62BN ........................985.00 VF20 115.00 NGC AU58 ...................575.00 F15 95.00 PCGS AU50 .....................360.00 M.4.5-Fb.1 PCGS EF45 ....................325.00 Martin 4.48-Gb.4 VF30 ....................200.00 M4.74-Gb.9 EF40 ............................270.00 M4.78-Gb13 B/B R/E N/R I/A R5 EF40...........................................550.00 M4.93-Gc.21 EF40 ..........................270.00 1724 halfpenny, pg 57 VF20 ..............350.00 F15 ..................................................225.00 M4.51-K.4 VF20 ..............................350.00 M4.66-K.1 ANACS EF40 ...................700.00 M4.73-L.2 F15 ................................225.00 VIRGINIA page 47 all attributed to Newman variety numbers. 1773 Virginia halfpenny Period variety N22-S NGC MS64RB.......................2150.00 N25-M PCGS MS64BN ....................1250.00 PCGS MS63BN...............................1175.00 N27-J PCGS MS64RB CAC ..............2155.00 PCGS MS63RB ...............................1650.00 Marked COPY MS65RB .......................10.00 No period variey N4-O PCGS MS64RB.......................2675.00 1760 HIBERNIA Voce Populi farthing lg letters pg 61 Breen 234 PCGS AU53, R5, 31-75 coins known........................4250.00 1760 HIBERNIA Voce Populi halfpenny page 61 Breen 221 VF20 ................................300.00 Breen 223 PCGS VF30 ......................400.00 Breen 226 VF20 ................................300.00 1760 HIBERNIA Voce Populi halfpenny P below page 61 Breen 233 P/P PCGS VF35 ................950.00 1760 HIBERNIA Voce Populi halfpenny P in front of face page 61 Breen 232 PCGS VF30 ......................750.00

RHODE ISLAND SHIP MEDAL No wreath PCGS genuine, damage, VF detail ............................475.00 FRENCH COLONIES pg 64 & 65 Vlack variety numbers are used. 1740G half sou marque, pg 65 V301 PCGS MS62 .................1575.00 SOU MARQUE pg 65 1738S V179 PCGS AU58 ....................400.00 1741BB V612 R6 NGC AU55...............575.00 1748A V28 R8 NGC AU58 ...................800.00 1755A V35a PCGS AU55 ....................385.00 1757/0A V37 R6 NGC MS62.............1150.00

$1.00 LIB $2.50 IND $3.00 $5.00 LIB $10.00 LIB $20.00 LIB

EF-AU 270. 300. 1125. 400. 790. 1520.

BU 325 390. 1950. 415. 810. 1565.

Half Cent 1793-1857

Two Cent Piece 1864-1857

3¢ Nickel 1864-1889

Silver 3¢ Piece 1851-1873

Twenty Cent Piece 1875-1878

Seated Quarter 1838-1891

Barber Quarter 1892-1915

Liberty Quarter 1916-1930

Washington Qtr 1932 to Date

SET FOR $315.00 EARLY TYPE QUARTERS

Bust Quarter 1815-1838

SET FOR $220.00

FRENCH COLONIES

NEW JERSEY

WASHINGTON PIECES

PILLAR DOLLARS

1757A V37a NGC MS62 .....................850.00 1767 SOU, page 53 NGC VF20 ...........275.00 F12 at least double struck 250.00 PCGS genuine, damage, edge dents VF detail .................................150.00 1767 SOU, stamped “RF” pg 65 EF40 ................................................285.00 VF25 225.00 VF30 ...........................250.00 F15 165.00 VF20 .............................200.00

M14-J PCGS VF30(VF20)..................500.00 M17-b PLUKIBUS PCGS VF20 ............450.00 1786 Bridle variety, pg 81 M18-M NGC EF40 ...........................1950.00 1787 N.J. no sprig above plow Pg 82 M43-d NGC VF30 ..............................750.00 M48-g PCGS VF35 ............................790.00 M64-t large flan, no sprig PCGS VF25 ......................................770.00 Reglar size flan VF20 500.00 PCGS VF25 ..................550.00 F15 ..................................................325.00 1787 N.J. outlined shield, camel’s head M56-n PCGS VF35 ......................................840.00 PCGS VF35, over struck on a Conneticut, arm & L show on reverse .....................................1150.00 1788 N.J. head right M65-v PCGS VF20 ...........................500.00

1783 small military bust, plain edge pg 91, NGC EF40 ............395.00 F12 ....................................................75.00 1783 draped bust, no button page 92, PCGS AU58......................1000.00 PCGS AU53 ......................................650.00 1783 draped bust, restrike, pl edge, pg 92 PCGS PR63BN ..........925.00 1783 Unity States PCGS EF45 ............400.00 Undated double head page 92 NGC AU55 ......................................1000.00 1795 Grate Halfpenny Token, large buttons, reeded edge page 95, PCGS MS63BN ................1350.00 (1795) Liberty & Security penny, head left ASYLUM edge PCGS AU50 ...........................1000.00 (1795) North Wales halfpenny plain edge, page 96 VF20 495.00 PCGS EF40................1350.00 Undated Washington-success token, page 96, small size reeded edge, PCGS MS61, reverse silvering ............................3500.00

1750 Mo MF PCGS genuine cleaned AU detail .............................452.50 1752 Mo MF AU50 .............................750.00 1753 Mo MF PCGS EF45 ....................575.00 1754 Mo MM EF40 ............................450.00 PCGS AU detail, cleaned, what would you expext after 250 years ................................450.00 PCGS EF detail, environmental damage ....................315.00 1759 Mo MM PCGS EF45...................570.00 1760 Mo MM AU50 ............................750.00 Mo MM PCGS genuine, tooled ..........317.50 762/1 Mo MM PCGS EF45..................850.00 1764 Mo MF PCGS genuine graffiti AU detail ...............................385.00 1765 Mo MF PCGS AU53 ...................825.00 1768 Mo MF AU55 ...........................1025.00 PCGS genuine, chop mark, mark, not chopmark AU detail ..........................................450.00 1769 PCGS EF45 ...............................575.00 1770 Mo FM PCGS AU details cleaning proof-like obv & rev (AU58PL) looks nice ..............1100.00 VF20 315.00 VF30 ...........................423.50 PCGS genuine, cleaned, EF detail.............................315.00 PCGS genuine graffiti VF details .............................................250.00

NOVA CONSTELLATIO, page 66 1785 pointed rays, sm date, PCGS F12 ........................................650.00 1783 blunt rays PCGS VF30 ...............800.00 1785 pointed rays small date PCGS F12 ........................................650.00 MASSACHUSETTS, page 71 1788 Mass half cent Ryder 1-B NGC AU55BN ..................1950.00 1788 Mass cent, period var. Ryder 1-D F15 ..................................330.00 Ryder 3-A PCGS EF45 .....................1175.00 VF20 ................................................500.00 Ryder 3-E PCGS VF35 .......................725.00 Ryder 4-G R5- PCGS VF30 ................720.00 Ryder 8-C PCGS AU50.....................1900.00 CONNECTICUT, page 72 to 74 These following Connecticut coins are attributed by Miller variety numbers. 1786 mailed bust left AG3....................38.50 1785-1787 mailed bust right only 178 visible Fr2............................25.00 Hercules head M5.3-N F12 ..............485.00 1787 mailed bust left, horned bust M4-L F15 .....................225.00 PCGS genuine plugged hole VF detail.............................................90.00 M4-L Horned bust variety, without the horn break. Scarce early die state VF20 ................................................525.00 M6.1-M laughing head, pg 73 PCGS VF30 ......................................800.00 M11.1-E F15 double struck...............530.00 1787 mailed bust right, M1.2-C mutton head PCGS G6. 200.00 1787 draped bust left, M33.2-Z.5 PCGS EF40 ......................575.00 M33.17-r.1 F15 ................................125.00 M33.33-Z.3 R6 VG10 ........................135.00 M48-g.5, R7, dateless porous VG8 ........................................85.00 1787 ETLIR variety pg 74 M33.43-hh.2 R5+ VF20 ...................525.00 CONNFC var. M43.1-Y VF20 ..............400.00 1788 draped bust left, M16.1-D F15 ....................................285.00 NEW YORK MACHIN MILLS, page 79 All attributed to variety numbers by Robert Vlack 1774 group 1 V3-74A VF20 ................800.00 PCGS VG10 ......................................500.00 V8-74A F15 ......................................450.00 1787 V17-87B group 2 F15 450.00 VF30 ..........................1000.00 F12 225.00 PCGS F12 ....................227.50 PCGS genuine, rim damage ............200.00 V19-87C F12 ....................................225.00 1788 V23-88A PCGS EF45 ...............2000.00 PCGS EF40 ....................................1400.00 F15 465.00 EF40 ...........................1395.00 NOVA EBORAC page 80 1787 seated facing right PCGS EF40 ....................................1450.00 NEW JERSEY, page 81 to 83 These coins are attributed by Maris numbers. 1786 N.J. straight plow beam narrow shield Pg 81

VERMONT COINS, page 83-84 All Vermont Coins are attributed by Ryder variety numbers. 1786 Vermontensium Ry6 SEGS VF20 ..............................1350.00 PCGS VF35 (VF20).........................1350.00 1786 Baby Head, PCGS genuine environmental damage F detail ...............................................390.00 have you ever seen a Baby Head without problems? Me either. 1787 Britannia Ry13 PCGS VF35 ......................................750.00 F12 detail, corroded ...........................95.00 1788 Vermont head right, Ry16 VG7 175.00 VG10.....................215.00 Ry20 R5 VG8 150.00 F15..................425.00 VG7 125,00 PCGS VG10 ...................282.50 PCGS genuine environmental damage, VG detail ............................175.00 Ry27 VF20 ........................................600.00 1781 NORTH AMERICAN TOKEN pg 85 PCGS VF30 ......................................390.00 BAR CENT page 86 PCGS genuine, tooled, VF detail, smooth surfaces, pleasant looking ............................4500.00 1787 AUCTORI PLEBUS TOKEN page 86 PCGS VF35 ......................................675.00 (1792-94) Kentucky Token, page 87 plain edge PCGS MS63BN...............................1250.00 NGC AU58 ........................................600.00 PCGS AU55 500.00 PCGS AU58 .......600.00 PCGS AU50 ......................................425.00 Lancaster edge PCGS MS63BN ......1675.00 NGC AU58 715.00 NGC MS62BN....1500.00 PCGS AU58 ......................................715.00 1794 Franklin Press token, plain edge page 88 PCGS MS62BN, hints of red luster .............................................1750.00 1795 Talbot Allum & Lee with New York one cent pg 88 NGC MS64BN ................................1750.00 PCGS AU55 ......................................600.00 1796 CASTORLAND MEDAL pg 89 silver restrike .....................................28.00 1820 Northwest Co. token, holed pg 90 as all but two are PCGS VF25...............................7950.00 WASHINGTON PIECES Pg 91-96 1783 Georgius Triumpho pg 91 PCGS VF25 ......................................490.00 PCGS F12 215.00 F15 .....................310.00

1787 FUGIO CENTS pg 99 & 100 Attributed by Newman variety numbers

POINTED RAYS, CROSS AFTER DATE States United N1-B, R5 PCGS VF30, among the top 10 coins known .................3850.00 PCGS VF25 ....................................2500.00 N1-L, R6 VG7 650.00 VG10 ...............860.00 AG3/VG10 ........................................300.00 POINTED RAYS, STATES UNITED N7-T R4 VF30 .................................1560.00 PCGS genuine environmental ...........600.00 damage EF detail ........................................ N9-Q R6 VG10 ..................................960.00 N12-M F12 595.00 F15 ....................750.00 N12-U R5 F12...................................715.00 N13-N, R6, G4 300.00 VG10 .............960.00 N13-R R5 F12...................................780.00 N14-O R4 G6 ....................................325.00 N16-N.1 R4 VG7 ...............................375.00 POINTED RAYS, 1787/1 1 OVER HORIZONTAL 1 IN DATE STATES UNITED, pg 99 N10-T R5 PCGS VF25......................5500.00 VG7 440.00 VF20 ...........................3750.00 The Redbook has the value of two varieties reversed. The United States is rarer than the States United. POINTED RAYS, STATES UNITED, 8 POINTED STAR ON LABEL N15-Y VG10 520.00 PCGS F15..........760.00 CLUB RAYS pg 84 N3-D PCGS VF25(VF20............................1500.00 VG10................................................640.00 N4-E F12 795.00 PCGS VF20 ..........1300.00 VG10 630.00 PCGS F12 ...................800.00 VF20, small planchet clip .................800.00 G5 265.00 PCGS VG10 .....................635.00

PILLAR DOLLARS The “Redbook’s” first coin, it circulated in Colonial America, and USA until 1857, page 21. 1740 Mo MF PCGS genuine, cleaned EF detail .............................317.50 EF40, dark, probably sea water damage .................................130.00 1741 Mo MF PCGS EF40 ....................500.00 1742 Mo MF PCGS EF40 ....................500.00 VF30 ................................................423.50 EF40, severe sea water damage .............................................85.00 1743 Mo MF PCGS VF35 ....................465.00 1744 Mo MF PCGS VF30 ....................423.50 1747 Mo MF EF40 .............................450.00

1769 LMA JM Peru PCGS EF45 ..........625.00 The following pillar dollar is AU50, sea water damage from the Dutch treasure ship Reygersdahl sunk October 25, 1747 off the Capetown, South Africa 250.00 ea 1743 Mo MF HAWAIIAN COINS & TOKENS page 425 & 426

HAWAIIAN TOKENS 1879 T. Hobron 12 1/2 cents 2/6 stars PCGS AU55 .....................1850.00 1882 Haiku 1 rial PCGS AU55...........3250.00

HAWAIIAN COINS 1847 Hawaii cent crosslet 4, 15 berries MS63RB........................2660.00 MS60BN 1100.00 PCGS MS63BN ..2100.00 AU58 975.00 NGC MS62BN ...........2030.00 AU50 850.00 AU55 ..........................925.00 NGC UNC details, light reverse corrosion .............................600.00 EF40, corroded 211.50 G4 ...............350.00 crosslet 4, 18 berries NCS AU details, environmental damage ....................500.00 plain 4, 13 berries PCGS MS62BN...............................2030.00 AU50 850.00 NGC MS61BN ...........1225.00 plain 4, 17 berries VF30, porous....................................292.50 1883 Hawaii .10 NGC AU58 ...............727.50 EF45 280.00 PCGS AU55 .................577.50 EF40 235.00 PCGS AU50 .................352.50 VF30 177.50 PCGS EF45..................282.50 VF20 120.00 PCGS EF40..................237.50 AU50, small obv & rev edge dent .................................................177.50 F12 70.00 F15 ...................................96.00 Fr2 19.25 AG3 26.00 VG8 ..................51.50 1883 Hawaii .25 PCGS MS66...........1750.00 AU58 255.00 ANACS MS64 ..............600.00 AU50 200.00 PCGS MS63 CAC.........475.00 VF30 136.50 NGC, PCGS MS62 ........352.50 EF40, marks in obv field.....................97.50 VG7 53.50 F15 78.00 VF20 ................97.50 EF40, damaged, removed from jewelry ......................................45.00 Fr2 19.25 AG3 ...................................29.50 1883 Hawaii .50 ANACS AU55............627.50

OUR POLICY: GRADING: Strict Photograde, ANA grading. LAYAWAY 1/3 with your order, and the remaining 2/3 within two months. APPROVAL SERVICE: Three references from coin dealers who now offer you approval service must be furnished for us to check. Money orders, bank drafts no delay; personal checks must clear our bank. POSTAGE & HANDLING: Orders under $100 add $4. RETURN PRIVILEGE: Coins may be returned within 30 days for any reason. California residents add 8.50% sales tax. PLEASE GIVE US SECOND CHOICES. VISA, MASTERCARD, AMERICAN EXPRESS & DISCOVER CARD ARE ACCEPTED. PRICES SUBJECT TO CHANGE. STORE HOURS: 10 a.m. to 6 p.m. Mon.-Sat. PHONE 707-544-1621. FAX MESSAGES 707-575-5304.

POSTAGE AND SHPPING, ORDERS UNDER $200.00 ADD $5.00

JACK H. BEYMER – OUR 51st YEAR 2490 W. 3rd Street, Dept. CA, Santa Rosa, CA 95401 707-544-1621 • FAX 707-575-5304 Our new website: www.beymerzcoins.com

7_Jack Beymer-Feb.indd COINage-Feb Issue.indd 15 7

®

12/14/2018 3:01:31 2:58:47 AM


Everything you always wanted to know about America’s early silver coinage COLLECTORS ADVANCE TO SILVER AFTER BASE METAL CENTS AND NICKELS BY TO M D E LO R E Y | A L L P H OTO S C O U RT E SY H E R I TAG E AU CT I O N S

The longtime King of American silver coins, the 1804 silver dollar. This piece belonged to one of the first great American coin collectors, Joseph Mickley, and its acquisition by him from the Mint in the 1840s helped ignite the passion of other early collectors.

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After 13 years of Flowing Hair and Draped Bust silver coinage by Chief Engraver Robert Scot, a new Capped Bust design was created by Assistant Engraver John Wright in 1807. It was used on all silver denominations until the late 1830s, and the eagle on the reverse was used on the quarter and the half until 1891!


T

o my mother’s generation, “the good silver” meant the fancy knives and forks and spoons that she got as a wedding present in 1941 that we only got out at Thanksgiving and Christmas dinners, even if I knew that it was only silver plate that needed to be polished by us kids before each said dinner. To my father’s generation, “Silver” was the Lone Ranger’s horse on the radio broadcasts. In metallurgy, silver is a semi-precious metal prized for its luster and ductility. It made great jewelry but lousy tools, which is why we had an “Iron Age” and a “Bronze Age” but never a “Silver Age.” Nevertheless, its world-wide desirability eventually caused it to be melted and poured into lumps of approximately the same size and weight, stamped with iron dies carved with intricate designs, and used as coins to buy iron and bronze from people that had them, or wheat and lumber and sandals to give people food and shelter and clothing. In numismatics, silver is the medium to which many collectors advance after getting their feet wet with the base metal cents and nickels. This is not to say that there is anything wrong with copper or nickel, but we all know that silver is “better” than they are, just as we acknowledge that gold is the king of the hill. This is reality. We old-timers can remember when silver coins were in everyday circulation, and how they disappeared from circulation about half a century ago, to be replaced with the ersatz copper-nickel “clad” coinage that we have. At that time of the changeover, the average American citizen thought that one was as good as the other so long as both worked in the pay telephones and the parking meters and the cigarette and candy machines, but to we collectors who knew that an era was ending, that ending was a sad one. Prior to the Declaration of Independence, of the central and southern British North American colonies in 1776, England deliberately kept what are now Canada and the United States starved of hard money of any sort. The colonies were kept constantly in debt to Mother England, so that they could only repay these debts by shipping more and more timber and raw materials across the water, plus tobacco and dried fish and other foodstuffs. There were some crude Spanish “cobs” in circulation in the 1600s, rough lumps of silver hacked from poured ingots, trimmed to weight but not made round, and incompletely stamped with Spanish royal insignia. Obtained via trade with the Caribbean that England discouraged but could not stop, the problem with these cobs from Massachusetts’ point of view was that the full-weight pieces got sent off to England, while the remaining pieces continued to be surreptitiously trimmed in their unstruck areas after they left their mints, becoming lighter and lighter way faster than normal circulation wear might occur. In 1652, while Mother England was engaged in its own great

A new design for the silver coinage was created by Assistant Engraver Christian Gobrecht in 1836, the Liberty Seated dollar. The traditional 13 stars on the obverse were replaced with 26 on the reverse to recognize the number of states in the Union at the time, but the beautiful concept with its eagle soaring onwards and upwards was rejected. Only about 2,000 pieces were struck for circulation dated 1836 and 1839, the latter with more conventional stars.

A new design for the silver coinage was created by Assistant Engraver Christian Gobrecht in 1836, the Liberty Seated dollar. The traditional 13 stars on the obverse were replaced with 26 on the reverse to recognize the number of states in the Union at the time, but the beautiful concept with its eagle soaring onwards and upwards was rejected. Only about 2,000 pieces were struck for circulation dated 1836 and 1839, the latter with more conventional stars.

Civil War, the Massachusetts Bay colony created its own mint in Boston to melt these underweight cobs, and whatever other silver it could get its hands on, and use this silver to strike coins for local usage. These silver shillings and sixpence and threepence were deliberately made to be underweight by about 20% compared to regal issues so they would be too light to be exported to England, but it was hoped that they would provide a consistently reliable circulating medium of exchange as opposed to the random-weight cobs. A silver twopence was added in 1662. The earliest “NE,” or New England, issues had very little design on them and were also subject to clipping, but the subsequent Willow Tree, Oak Tree, and Pine Tree issues with fancier designs and beaded borders proved very popular. Though their striking was discontinued in 1682, there are reports that some

COINAGE FEBRUARY 9


After almost 60 years of U.S. coinage, our first new silver denomination was created in 1851, the silver 3-cents piece, or trime. Unlike its larger siblings, it was struck in only .750 fine silver to discourage hoarding, but this was changed to .900 fine in 1854. Note the Roman Numeral denomination inside a “C” for cents.

were still around in possible circulation when the Revolutionary War broke out in 1775. By then, silver was the backbone of commerce in the Americas. For centuries it had been pouring like a mighty river out of the mines of Mexico and Peru, destined for Spain but with enough diverted north from the Caribbean via legitimate (or not) commerce up and down the coast to fill the merchants’ cash boxes in British and French North America. The silver coins coming from Mexico and much of the Spanish Empire, (of greatly improved quality and design called “milled coinage” to distinguish it from their crude predecessors), were denominated on a Base Eight system. The largest size common piece, roughly equivalent in world trade to the British crown or the Central European thaler (or dollar), was designated as an 8 reales. Think of the parrot squawking “Pieces of eight! Pieces of eight!” in Robert Louis Stevenson’s “Treasure Island.” The fractional sizes were the 4 reales, the 2 reales, the 1 reale (or real) and the ½ reale. Coins of ¼ reale or less were typically copper, though some former Spanish colonies issued silver ¼ reales in the 19th century. Very rare silver presentation pieces, such as the giant 50 reales coins, were novelties that did not circulate, but they are glorious to behold. When officially made fractional coins were not available, it was not uncommon to see 8 reales coins chopped with a chisel into halves or quarters or eighths and spent, but of course some “chiselers” made each piece just a little bit underweight and kept the difference for themselves! Various government entities did official cutting as honestly as possible and stamped a hallmark of sorts on the finished products to verify their legitimacy, and these “cut coins” can be highly collectible today if genuine. Perpetually broke, the fledgling American Confederacy and its

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member states paid their War of Independence bills with Continental Currency or state notes that typically promised that they would someday be redeemed in good hard Spanish milled dollars. The war was won but the holders of the paper money lost, with most of the Federal obligations eventually being paid off at an exchange rate of one silver Spanish 8 reales for 90 dollars’ worth of paper Continental “shinplasters.” This instilled in Americans a healthy appreciation for silver money over paper money, and when the United States was finally able to put its wartime insolvency behind it and create a monetary system of its own in 1792, silver was the most important part of it. Partly because most Americans were familiar with them, and partly to snub the defeated English foes, America chose the silver 8 reales as the basis of our dollar. However, Thomas Jefferson, who created our monetary system, had previously been our ambassador to France and had seen the birth of the metric system there. He decided that our dollar would consist of ten dismes (from the French decime, or tenth) rather than eight reales, and 100 cents (from the French centime, or hundredth). Going up the decimal scale, he also created the gold eagle, or $10. We kept the 4 reales as our 50 cents or half a dollar, and the 2 reales as our 25 cents or quarter dollar. (Keeping with Jefferson’s power of 10 theme, there were also half and quarter eagles, but only half dimes and half cents.) Because the Spanish 1 reale had commonly been called a “bit,” an American quarter dollar was commonly called “two bits” for most of America’s history, including well into the 20th century. (I have asked around and the term is now obsolete, except as a pejorative, perhaps reflecting the diminished buying power of a quarter.) Since the 1 reale coin still in circulation was worth 12-½ cents,


The California Gold Rush made gold cheap relative to silver and encouraged the melting of silver coins for their bullion. To discourage this practice, the Mint reduced the weights of the half dime through half dollar by about 7% in early 1853 and marked the new weight coins with arrows at the date through the end of 1855. The quarter and the half were also marked with rays around the eagle, but this made the coins difficult to strike and the rays were discontinued after 1853. the United States needed a copper half cent to make change for them. The reales were demonetized in 1857, and with them the half cent was discontinued. (Curiously, the various silver reale denominations remained legal tender at U.S. post offices until just a few decades ago, but at the reduced rate of 10 cents per reale to allow for accumulated wear!) The U.S. Mint opened for business in temporary “quarters” in late 1792 with a small issue of 1,500 or so silver half dismes, intended by Jefferson to replace the half reales worth 6-¼ cents. Unlike with the reale, there was no small fractional coin struck to smooth the conversion from the old system to the new. A few pattern 1 dismes were also struck in 1792. Only copper regular issue coins were issued in 1793, and finally the striking of silver dollars and half dollars began in 1794. These two coins each featured a head of Miss Liberty with long, flowing hair, perhaps suggesting freedom of thought. A small American eagle perched within a wreath adorned the reverse. Similar dies were prepared for a half dime dated 1794, but the Mint did not get around to using them until 1795. As a matter of national pride, the Mint tried to showcase the new American dollar coin in 1794, but the first coining press it built could not strike up that large of a coin. Roughly 300,000 half dollars and 200,000 dollars were struck in 1795, some of the dollars with a new Draped Bust design for Miss Liberty. Dollar production slipped in 1796 and fell to under 10,000 in 1797 before roaring back to large numbers in 1798-1800. However, the early silver dollars struck from 1794 to 1804 (those last ones dated 1803) did not circulate well. Large silver coins, like those 8 reales and their European counterparts, were most desirous for international trade because of the need to recount them as they were being spent in quantity.

The larger the coins, the less time it took to count them. Many early dollars ended up being exported, and if they ended up in a major country like Great Britain or France, those countries would melt them down and re-coin them as coins of their countries. If that silver ended up back in America, it might then be melted down and re-coined again in a vicious cycle. However, some early dollars survived because size did matter, and the silver dollars were impressive. Two legitimately uncirculated 1794 dollars and three uncirculated 1795 dollars survive today because English gentleman William Strickland visited America for 10 months over 1794 and 1795, and in this time he accumulated a total of 84 American coins that became family heirlooms when he returned to England. This story of the collection might interest you: www.pcgsblog.com/ronguth/news/the-lord-st-oswald-coins-where-are-they-now The earliest U.S. collectors, thought to have started in the 1830s, naturally were attracted to the earliest dollars, allegedly calling them “The Dollars of Our Daddies.” This quaint term may have referred to their ancestors in general, or the founders of our country in particular. George Washington himself was called “The Father of His Country,” and the dollars may have been linked to him by a silly little fable made up by Washington’s self-appointed biographer, Parson Mason Locke Weems. In this fable, Washington allegedly “threw a silver dollar” across the Potomac River. The reality is that, as a young man, Washington may have thrown a piece of slate “about the size of a silver dollar” across the Rappahannock River as a display of his strength. Weems was also guilty of creating the myth about Washington chopping down a cherry tree as a boy. Half dollar production was just a few thousand each in 1796 and

COINAGE FEBRUARY 11


that allow the rims of those other coins to 1797, before being suspended completely dig into the fields. Some dishonest collectors in 1798-1800. It resumed in 1801 and was falsely assert that coins that only have wear greatly increased starting in 1803. The half upon their high points, and full luster in dollar then remained the most important the fields should still be called uncirculated U.S. silver coin for the next 75 years, and it because they do not have those random remained a significant part of the money circulation marks, but what they have is supply until 1964, when the issuance of the wear nevertheless! wildly popular Kennedy half dollar caused Silver coins did circulate, and their it to be hoarded out of circulation to the production expanded greatly with the death of the denomination. opening of the New Orleans Mint in 1838 to Silver quarter dollars and dismes were absorb silver mined in nearby Mexico. The not struck for circulation until 1796. The Heartland of America was opening up, and reason for this delay is unknown. It can be the Mississippi River and its feeder rivers speculated that the quarters simply were not carried that Cajun silver to Ohio, Minnesoneeded because there was an ample supply ta, Nebraska, and beyond. The bulk of it was of 2 reales coins in circulation; but if I were still in half dollars, though quarters, dimes, trying to establish a new decimal monetary and half dimes were now commonly seen. system, I would have been flooding the Curiously, the New Orleans Mint only country with those dismes! struck the new silver 3-cent piece in its (If I might play the imaginative Parson premier year, 1851, apparently due to a Weems for a minute, I have sometimes lack of local demand. Essentially it was a ¼ speculated that the Mint might have struck As coin collecting became more and reale (which would have been 3-⅛ cents), silver quarters and dimes and gold quarter more popular throughout the 1840s and 1850s, the demand for proof coins and such a denomination might have been eagles for the first time in 1796 just so that from the Mint increased. In 1858, the useful back in the 1790s. However, it did not it could present a complete set of every U.S. Mint began offering complete proof fit into Jefferson’s powers of 10 scheme then, denomination authorized to the retiring sets to collectors, including this 1858 dollar of which only about 200 pieces and the indifference of later generations President Washington, who is said to have were struck, all in proof. made it our first failed silver denomination taken a personal interest in the Mint. This when it was cancelled in 1873. year marked the first time that every authoThough the First and Second Banks of the United States issued rized denomination was struck in the same year, and the last currency of their own as a convenience for settling large debts, the time that that happened until 1840! Alas, no such Washington Federal government itself, because of the Continental Currency presentation set is known.) fiasco, dared not do so itself until the next great war forced it to. The Mint plugged along after 1804, making primarily copper In the first year of the Civil War, the U.S. Treasury began issuing cents for circulation because it turned a small profit on each one; currency backed by nothing, and whenever possible people spent silver half dollars because they were heavily in demand and gold their paper bills and hoarded any gold or silver they might have. half eagles to deliver to depositors of gold who had to be paid in Faced with the disappearance of silver fractional coins, the something. Other denominations were struck sporadically. Treasury began issuing paper fractional notes in denominations The gold coins tended to be exported, and until the U.S. of 50, 25, 10, 5, and 3 cents to replace the silver coins of those Treasury finally figured out a way to make them circulate in 1834 values, and eventually a 15 cent note just for the fun of it. I spent (by adjusting their weights), the method of payment for large one of those 15 cent notes at a post office once, to the terror of the transactions was often bags upon bags of silver half dollars. Half young clerk behind the counter. dollars were preferred because each bag had to be counted as it Silver coins returned to circulation in the mid-1870s and the was accepted, and it was faster to count 2,000 half dollars than fractional notes were largely retired, but they set a precedent of 4,000 quarters or 10,000 dimes. paper notes representing coins. Huge amounts of silver had been This method of counting explains why many Capped Bust half discovered in Nevada in 1859, but its potential effect upon the dollars show noticeable wear upon their high points but much silver market was cancelled out by the Civil War. original luster in the fields, as the wear was caused by the coins As the price of silver began to decline in the 1870s, two massive being dragged flat across a counting table. This handling abraded dollar programs were created to support the price of silver: the those high points without touching the fields. Normal circulation wear, on the other hand, has each coin com- Trade dollars of 1873-1878 and the Morgan dollars of 1878-on that successfully tied silver coins to paper Silver Certificates. • ing into contact with larger and smaller coins at random angles 12 COINAGEMAG.COM


KATHY’S SPECIAL SELECTIONS CHOICE BU+ MS-64 “Your Choice” MORGAN DOLLAR SPECIAL

PRESTIGE PROOF SETS

Pleasing, high-end Choice BU++ MS-64 coins. Lustrous and brilliant with nice strikes for the date and mintmark. Choice eye-appeal. Let me know if you like a little rim color – I can help with most dates. 3 coins for 5 coins for 10 coins for

$162.00 $265.00 $520.00

Pick from the following dates: 1880-S 1885-P 1889-P 1899-O 1904-O

1881-S 1885-O 1896-P 1900-P

1882-S 1886-P 1897-P 1900-O

1883-O 1887-P 1898-P 1901-O

COOL 1928-P PEACE SILVER DOLLARS

Flashy luster and nice strikes. Brilliant coins in every grade. Beautiful! CHOICE BU MS-63 $435.28 CHOICE BU+MS-64 $525.28

TRIO OF ROLLS

One each roll of Indian cents – 50 coins Liberty nickels – 40 coins Buffalo nickels – 40 coins Grading GOOD and better with a nice mixture of dates. All readable dates with no major problems TRIO of rolls for $104.50

Choice original, uncleaned coins. My choice of dates. FINE BARBER HALF $40.00 or 2 different for $68.00

$54.00 $58.00 $46.00 $46.00 $95.00 $365.00 $70.00

3 coins for $185.00 Pick from the following dates: 1940 – P 1941 – P 1942 – P 1945 – P 1946 – P 1947 – P Please list 2nd choices – it helps!

1944 – D 1947-D

1945 – D

1943 – P

1944 – P

STANDING LIBERTY QUARTER PAIR Very attractive coins in higher-end grades! EF coins are not dark; AU and better coins are brilliant. Our choice of dates.

$44.25 $105.25 $175.25

UNCIRCULATED 1921 MORGAN SILVER DOLLAR ROLLS

NOW THAT’S A VERY FINE BARBER HALF Even cooler! Choice original, uncleaned coins. My choice of dates. VF BARBER HALF $100.00 or 2 different for $170.00

20-coin roll of 1921 P-mint MORGAN SILVER DOLLARS. All coins brilliant, grading MS-60+ to MS-63.

FIRST YEAR OF ISSUE SPECIAL

Great value with current silver price! Tubed. $460.00

1913-P TY 1 Buffalo Nickel Lustrous and flashy. Nicely struck with gem surface qualities. GEM BU MS-65. $80.00

AU BARBER DIME TRIO Nice luster and nice pleasing surfaces. All coins brilliant. Order early while I have a nice choice of dates!

1916-P Mercury Dime

3 different AU Barber dimes for

Lustrous and flashy. Nicely struck with gem surface qualities. GEM BU MS-65. $80.00 OR Purchase the PAIR for $149.00

$125.10

CH/GEM BU MERCURY DIME SET

CHOICE BU MS-63 BROWN INDIAN CENT TRIO

Light to medium to chocolate brown depending on how and where the coins were stored over the years. Choice BU with nice strikes and pleasing surfaces. Our choice of dates. 3 different dates for $73.00

Mention CAKB0219 and take $10 off your purchase of $100 or more from this page only! Good through 2/28/19

TERMS OF SALE: 1) Payment terms: U.S. Post Office and American Express money orders shipped quickest. ALL OTHER CHECKS MUST CLEAR THREE WEEKS. 2) We accept MasterCard, VISA and Discover. We need the issuing bank, bank’s city and state, card number, expiration date. No credit cards on $20 gold pcs. 3) No PA sales tax on coins & bullion. 4) Postage and Handling Fees: $5.00 on orders less than $500.00; orders over $500 shipped Postage Paid. Bullion items are/or boxed items may be charged an additional fee. Actual postage fees non-refundable. 5) Guarantee: All items guaranteed genuine. All returns must be by mail. All returns must be postmarked within fifteen (15) days of receipt. Any attempted alterations or exemptions of above policy are null and void. Most items can be returned for any reason including grading. No return on bullion-related items. Grading 43 years experience. No warranty expressed or implied is made with respect to descriptions which can and do vary among grading experts. Please do compare our quality with coins you purchase elsewhere. Let us know if you can find comparable quality for less. 6) All returns must be in original holders, unopened and undamaged. All exchanges or returns are processed within 15 days. Coins removed from original holder, by you or another party, are not returnable for any reason. 7) Complete terms of sale upon written request.

3 coins for $255.00 Pick from the following dates: 1937 – P 1939 – P 1941 – D 1945 – S 1946 – D 1946 – S

2 different dates EF 2 different dates AU 2 different dates Select BU MS-60

NOW THAT’S A FINE BARBER HALF

See us at the upcoming C.A.M.P. COIN SHOW March 22, 23, 24 2019 – Monroeville, PA

1991 Mt Rushmore 1992 Olympic 1993 Bill of Rights 1994 World Cup 1995 Civil War 1996 Olympic 1997 Botanical Gardens

Brilliant, nicely struck and flashy GEM BU. Simply gorgeous coins with Great eye-appeal!

“My Choice” all different – 10 coins for $505.00

KATHY BUCKS

$53.00 $57.00 $39.00 $37.00 $41.00 $41.50 $39.50

GEM BU MS-65 “Your Choice” WALKING LIBERTY HALF SPECIAL

OR Help me even out my inventory!

COINage-Feb Issue.indd 13

1983 Olympic 1984 Olympic 1986 Statue of Liberty 1987 Constitution 1988 Olympic 1989 Congressional 1990 Eisenhower

1884-O 1888-P 1898-O 1902-O

Please list 2nd choices – it helps!

Sarosi Coinage Feb.indd 1

Each Prestige Proof set contains the regular Proof set for that year and the indicated commemorative coin(s). Housed in a bookshelf-like case/box.

1934-1940 P D S CH/GEM BU set grading a minimum of MS-63. All coins brilliant; some with Full Brands. Housed in a custom album from 1916. 20-coin set. $405.00 1941-1945 P D S short set CH/GEM BU grading a minimum of MS-63. All coins brilliant with some Full Bands. Housed in a custom Capital Plastic holder. 15-coin set. $139.00 BUY both sets and let me put in same album and deduct $10.00!

John Paul Sarosi, Inc.

106 MARKET STREET JOHNSTOWN PA 15901 KATHY SAROSI • JOHN PAUL SAROSI

www.sarosicoins.com

CALL 10 AM to Approx 9 PM • Mon-Fri/Sat 10 AM

WANT LISTS AGGRESSIVELY FILLED – TRADES WELCOME

TOLL FREE ORDER LINE: 1 (800) 334-1163 1-(814) 535-5766 FAX: 1 (814) 535-2978

12/14/2018 2:06:12 AM

12/14/2018 2:07:15 AM


No

Silver Lining

SILVER DOLLARS ARE A WEALTH OF HISTORY BUT TAKE UP LOTS OF SPACE BY JAMES PASSIN

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ne of my favorite coins has always been the Morgan silver dollar, minted by the U.S. from 1878 to 1904 – and then, after a hiatus, in 1921. It is a precious metal store of value, with each coin’s original content being nearly an ounce of silver (0.7734 oz. silver). The silver content alone makes the Morgan a sterling hold, but this coin is a double play: Not only is it made from precious metal, but it also contains valuable numismatic history. From Anna Willess Williams, who modeled for George Morgan’s portrait of Ms. Liberty, to the dissention between Morgan and fellow engraver Charles Barber, this grand coin is the quintessential collectible. Some years back, I learned firsthand what the drawbacks are for someone such as me who has an affinity for these coins. My vast experience as a hedge fund manager has taught me to embrace quantity and quality. I was never one to buy slabbed Morgan dollars for more than $100 or so apiece, and rare dates just don’t do it for me. So I decided to buy some Choice and Gem Mint State common-date Morgan dollars. A couple thousand MS-63s and MS-65s in NGC and PCGS slabs didn’t seem like such a big deal – at least not on paper. Then the coins arrived! There were boxes and boxes of these beautiful coins. I had never, ever anticipated that the collective size of these coins would be so massive. The realization then dawned on me: It takes a tremendous amount of space to store generic Morgan dollars in any quantity that represent significant wealth


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Ultra-rare silver coins collected by the 1% are holding their own or increasing in value. in the form of silver. Even if you have access to, or are able to build, a secured storage facility of adequate size for the purpose of storing large amounts of physical silver, the inconvenience of transporting dozens of bulky double-row boxes of slabs or crates of silver bars, let alone spending hours trawling through stack after stack of silver dollars in slabs, renders silver’s utility as a true monetary instrument marginal. The silver price is too volatile and sends too many false technical signals to even serve as a profitable vehicle for short-term speculative trading (perhaps you are much better silver market timer than I am!). The only time that I jumped in to buy silver in any size was when the price consolidated under 5. I recall buying some Silver Certificates from Perth Mint when silver traded at 4.80. Sadly, I could not convince my wife at the time to forego a penthouse Manhattan condo that she was eyeing in favor of 2 million ounces of silver, which I argued was a much better place to tie up capital; of course, she insisted that “you cannot live in silver.” And, of course, the silver price ascended 8x – and I am now happily remarried to another woman who respects my major trading calls. While I have bought and sold silver coins in quantity, I cannot get my head around the premiums still enjoyed by common-date silver dollars. For example, these generic Morgan dollars that I like so much are still holding considerable premiums above the melt value of the silver – MS-63 Morgans are worth $50 or so each. (And MS-63 Peace dollars are worth about $40.) I cannot get myself to pay these premiums for generic silver dollars in quantity when spot silver is in a grinding multi-year bear market.

COINAGE FEBRUARY 17


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infamous failed Hunt brothers market operation, almost hitting the 40 level, silver crashed 84% before bottoming, reversing the entire bull market; silver has only fallen 65% since its peak of 41.66 in 2011. My feeling is that more pain is necessary before silver can find a major bottom and stage any kind of sustainable rally. Of course, as I mentioned, silver tends to form fake technical patterns. So it may be a mistake to overanalyze silver chart patterns. Looking at the universe of hard asset alternatives, cryptocurrency, volatile as it is, might actually represent a better addition to gold than silver at this instant in time. Major cryptocurrency prices have gotten totally torched, and this moment could possibly represent a historic chance for the proverbial “getting your feet wet.” • Famed “daredevil investor” James Passin, Chartered Market Technician, is Executive Chairman of Blockchain Holdings, Ltd. (symbol BCX on the Canadian Securities Exchange), a public company listed in Canada. The company provides unique insights into the growing ecosystem of crypto-assets through bcxdata.com. BCX developed proprietary indices to measure broad categories of cryptocurrencies. By improving transparency, BCX hopes to also improve liquidity in cryptocurrency markets.

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These premiums are inexplicable in light of the precipitous decline of premiums for AU-50 to MS-62 commondate Saint-Gaudens and Liberty Head double eagle gold coins. It makes more sense to use the historic weakness in the generic gold coin market to accumulate slabbed gold $20s than to gamble in the silver coin market, unless you are a collector and just want a few rare coins. Possibly, the upper end of the rare silver coin market could represent some speculative value. Vintage silver Type coins collected by the upper middle class have been on the decline for 15 or more years. There are some wonderful Gem coins that were $8,000 at the market height in 1989 that are $2,000 today. However, there are not a lot of collectors of these extraordinary numismatic coins. Ultra-rare silver coins collected by the 1% are holding their own or increasing in value. Vintage silver commemorative coins have been declining steadily. I can cite examples of some Gem coins that were $6,000 in 1989 that are $600 today. There are very few serious collectors of these coins right now. From a pure technical perspective, the silver chart does not look promising. Silver keeps breaking below support levels and has not formed any convincing reversal patterns on any time frame. After silver peaked in 1980 during the


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A S nage nn ssstock! ock! aa og amp oo the he ow ss our e! All modern U.S. coinage catalog, below website! A modern U U S co co nage in ock! For For aa free free ca ca og send send aa ssstamp amp to he address address be be ow or or vvvisit our webs webs e! KBJORNSON@BECKETT COM JEFFERSON JEFFERSON & & BUFFALO BUFFALO NICKELS NICKELS

LINCOLN 1958 DATE LINCOLN CENTS CENTS | 1909 1909-1958: AVG. CIRC CIRC. | 1959 1959-DATE: BU 1909 1958 AVG CIRC 1959 DATE BU Thousands o conservat ve yAVG

JOEL ANDERSON

1913 1963 DATE □ 25 FFERENT 00 1913-1963: AVG. CIRCULATED 1964-DATE: 1913 1963 AVG AVG CIRCULATED CIRCULATED | 1964 1964 DATE BU BU BU $0.25/EACH DIFFERENT $2.00: □ □ $0 $0 $0.25/EACH 25 EACH EACH OR OR OR 10 10 10 D D DIFFERENT FFERENT FOR FOR FOR $2 $2 $2.00: 00 th ||photos 20P 25P 27P 30P $0 25 EACH FFERENT 00 || 28P || 36D || 37D $0.25/EACH DIFFERENT $2.00: 20P 20P ||graded 25P 25P || 26P 26P 26P ||co 27P 27P ns 28P 28Pw|| 29P 29P 29P 30P 30P || 30D 30D 30D |at | 30S 30S 30S || 34P 34P 34P || 34D 34D 34D || 35P 35P 35P || 35D 35D 35D || 36P 36P 36P 36D 36D 37D 37D www Joe sCo□□□ns com $0 $0.25/EACH 25 EACH OR OR OR 10 10 10 D D DIFFERENT FFERENT FOR FOR FOR $2 $2 $2.00: 00 38P 38D 39P 39S 40P 40D 40S 41P 41D 42P 42S 43P 43D 44P 44D 44S 39P 40P 41P 46P 47P 48D 49S 51D 52 52D 52S 53D || 40D 38P 38P || 38D 38D |everyday | 39P 39P || 39S 39S || 40P 40Pow 40D 40S 41P || 41D 41D || 42P 42P || 42S 42S || 43P 43Pn|| 43D 43D 44P 44P 44D 44S 44S 39P 40P 40P ||1970 41P 41P || 46P 46P || 47P 47P || 48D 48D || 49S 49S || 51D 51D || 52 52 || 52D 52D || 52S 52S || 53D 53D || 53S 53S 53S || 54D 54D 54D pr|| 40S ces|| 41P eres|| 50D ng|| 44D Wor|| 51D d Co ns39P S ||nce 45P 45P 45P || 45D 45D 45D || 45S 45S 45S || 46P 46P 46P || 46D 46D 46D || 46S 46S 46S || 47P 47P 47P || 47D 47D 47D || 48P 48P 48P || 48D 48D 48D || 49D 49D 49D || 49S 49S 49S || 50P 50P 50P || 50D 50D || 51P 51P 51P || 51D 51D 55D 55D 55D || 56D 56D 56D || 57D 57D 57D || 58P 58P 58P || 58D 58D 58D || 59P 59P 59P || 59D 59D 59D || 60P 60P 60P || 60D 60D 60D || 61D 61D 61D || 62P 62P 62P || 62D 62D 62D || 63P 63P 63P || 63D 63D 63D P56P O |Box G ove CA 93483 0365 51S or|| 53P ree cata 64P 64D 70S 99P 03D 04P PEA 04D PEA 04P KB 04D KB 05P 51S 51S || 52P 52P 52P |Send | 52D 52D 52D || 52S 52S 52S 53P 53P || 53D 53D 53D || 53S 53S 53Sog || 54P 54P 54P || 54D 54D 54D || 55P 55P 55P || 55D 55D 55D || 56P 56P | 56D 56D 56D365 || 57P 57P 57PCA || 57D 57D 57D || 58P 58P 58PBeach PEA. PEA. BUF. 64P 64P || 64D 64D || 70S 70S || 99P 99P || 03D 03D || 04P 04P PEA PEA. || 04D 04D PEA PEA. || 04P 04P KB KB || 04D 04D KB KB || 05P 05P BUF BUF BUF. 58D 65P 05D BUF 05P OV 05D OV 06P 06D 07P 07D 08P 08D || 59P || 59D || 60D || 61D || 62P || 62D || 63P || 63D || 64P || 64D ||8045 || 66P || 67P 805 489 e ma o de s@ oe sco ns com BUF. | | | | | | | | 58D 58DBox 59P 59P71095 59D 59D || 60P 60P 60PPhoen 60D 60D || 61P 61P 61P 61D 61D 62P 62P 62D 62D 63P 63P 63D 63D 64P 64P 64D 64D 65P 65P 66P 66P 67P 67P 05D 05D BUF BUF. | 05P 05P OV OV | 05D 05D OV OV | 06P 06P | 06D 06D | 07P 07P | 07D 07D | 08P 08P | 08D 08D x 70P AZ 85050 68P 50 $0.50/EACH: 68P 68P || 68D 68D 68D || 68S 68S 68S || 69P 69P 69P || 69D 69D 69D || 69S 69S 69S || 70P 70P || 70D 70D 70D || 70S 70S 70S || 71D 71D 71D || 72P 72P 72P || 73P 73P 73P || 73D 73D 73D || 73S 73S 73S || 74P 74P 74P || 74D 74D 74D □ □ □ $0 $0 $0.50/EACH: 50 EACH EACH 40D 40D 40D || 40S 40S 40S || 41S 41S 41S || 42D 42D 42D || 46D 46D 46D || 47S 47S 47S || 49P 49P 49P || 49D 49D 49D || 50P 50P 50P || 54P 54P 54P || 54S 54S 54S 75P 56P 75P 75P || 75D 75D 75D || 76P 76P 76P || 76D 76D 76D || 77P 77P 77P || 77D 77D 77D || 78P 78P 78P || 79P 79P 79P || 79D 79D 79D || 80P 80P 80P || 80D 80D 80D || 81P 81P 81P || 81D 81D 81D || 82D 82D 82D || 83P 83P 83P || 85P 85P 85P 56P 56P || 57P 57P 57P || 61P 61P 61P || 65P 65P 65P || 66P 66P 66P || 71D 71D 71D || 72D 72D 72D || 73D 73D 73D || 76D 76D 76D || 77P 77P 77P || 77D 77D 77D || 80D 80D 80D || 81P 81P 81P || 90P 90P 90P 88P 89P 89D 90P 90D 91P 92P 92D 93P 94P 95P 95D 96P 96D 97P 97D 90D 88P 88P || 89P 89P || 89D 89D || 90P 90P || 90D 90D || 91P 91P || 92P 92P || 92D 92D || 93P 93P || 94P 94P || 95P 95P || 95D 95D || 96P 96P || 96D 96D || 97P 97P || 97D 97D 90D 90D || 91P 91P 91P || 00P 00P 00P || 03P 03P 03P || 14P 14P 14P || 14D 14D 14D || 15P 15P 15P || 15D 15D 15D || 16P 16P 16P || 16D 16D 16D || 17P 17P 17P || 17D 17D 17D || 18P 18P 18P || 18D 18D 18D 98P 98D 99P 99D 00P 00D 01D 02D 03P 03D 04P 04D 05P 05D 06P □ $0 75 EACH 35P 36P 37P 67P 74D 78D 80P 81D 88P 88D 89P 98P 98P || 98D 98D || 99P 99P || 99D 99D || 00P 00P || 00D 00D || 01D 01D || 02D 02D || 03P 03P || 03D 03D || 04P 04P || 04D 04D || 05P 05P || 05D 05D || 06P 06P $0.75/EACH: □ □ $0 $0.75/EACH: 75 EACH 35P 35P || 36P 36P || 37P 37P || 67P 67P || 74D 74D || 78D 78D || 80P 80P || 81D 81D || 88P 88P || 88D 88D || 89P 89P 06D 94P 06D 06D || 07P 07P 07P || 07D 07D 07D || 08P 08P 08P || 08D 08D 08D || 09P 09P 09P ### 111 // 222 // 333 // 444 || 09D 09D 09D ### 111 // 222 // 333 // 444 || 10P 10P 10P || 10D 10D 10D || 11P 11P 11P || 11D 11D 11D 94P 94P || 94D 94D 94D || 96P 96P 96P || 00D 00D 00D || 01D 01D 01D || 02D 02D 02D || 11P 11P 11P || 11D 11D 11D || 12P 12P 12P || 12D 12D 12D || 13P 13P 13P || 13D 13D 13D 12P 12D 13P 13D 14P 14D 15P 15D 16P 16D 17P 17D 18P 18D □ $1 00 EACH 30P 36D 36S 37D 38P 41D 42P N CK 46S 51S 12P 12P || 12D 12D || 13P 13P || 13D 13D || 14P 14P || 14D 14D || 15P 15P || 15D 15D || 16P 16P || 16D 16D || 17P 17P || 17D 17D || 18P 18P || 18D 18D $1.00/EACH: NICK □ □ $1 $1.00/EACH: 00 EACH 30P 30P || 36D 36D || 36S 36S || 37D 37D || 38P 38P || 41D 41D || 42P 42P N NICK CK || 46S 46S || 51S 51S || 53P 53P 53P QUALITY COINS, &|| 37P FAST SHIPPING | 68S TRUSTED DEALER SINCE 1986 □ 50 16P 55P □ □ $0 $0 $0.50/EACH: $0.50/EACH: 50 EACH EACH 16P 16P || 17P 17P 17P || 18P 18P 18P || 19P 19P 19P || 19D 19D 19D LOW || 19S 19S 19S || 23P 23P 23PPRICES, || 24P 24P 24P || 35S 35S 35S || 36S 36S 36S 37P 37P || 37S 37S 37S || 38S 38S 38S 55P 55P || 68D 68D 68D || 68S 68S || 69D 69D 69D || 69S 69S 69S || 70D 70D 70D || 73P 73P 73P || 74P 74P 74P || 75P 75P 75P || 75D 75D 75D || 79P 79P 79P || 79D 79D 79D || 85P 85P 85P || 85D 85D 85D 39D 43S 71S 87D 89D 93D 95P 95D 10P 10D Most modern and|| 48S Canadian coinage always in stock! free catalog, send a 87P stamp to the address below or visit our website! 39D 39D || 41S 41S 41S || 42D 42D 42D ||U.S. 43S 43S || 47S 47S 47S 48S 48S || 49P 49P 49P || 50S 50S 50S || 54S 54S 54S || 55S 55S 55S || 60D 60D 60D SMDT SMDT SMDT || 71P 71P 71P ||For 71S 71S ||a72S 72S 72S 87P 87P || 87D 87D || 89D 89D || 93D 93D || 95P 95P || 95D 95D || 10P 10P || 10D 10D 74S 83D 84P 85D 86P 87P 88D 00P 01P 02P □ $1 50 EACH 27P 29P 38D EFF 48P 48S 65 SMS 66 SMS 67 SMS | | | | | | | | | 74S 74S || 78D 78D 78D | 83D 83D | 84P 84P | 85D 85D | 86P 86P | 87P 87P | 88D 88D | 00P 00P | 01P 01P | 02P 02P $1.50/EACH: JEFF || 48S □ □CANADA $1 $1.50/EACH: 50 EACH 27P 27P || 29P 29P |||38D 38D JEFF EFF || 48P 48PAVG. 48S || 65 65 SMS SMS ||| 66 66 SMS SMS || 67 67 SMS SMSBU JEFFERSON &20S BUFFALO NICKELS NICKELS 1922-1963: CIRC. 1964-DATE: □ 75 10P 17S 84D 72P $0.75/EACH: || 20S || 93D □ □ $0 $0 $0.75/EACH: 75 EACH EACH 10P 10P || 11P 11P 11P ||AVG. 17S 17S || 20D 20D 20D 20S || 21P 21P 21P || 31P 31P 31P| ||1964-DATE: 84D 84D || 87D 87D 87D || 91D 91D 91DBU 93D 93D 72P 72P || 76P 76P 76P || 78P 78P 78P || 84P 84P 84P || 86D 86D 86D || 91D 91D 91D || 92D 92D 92D || 97P 97P 97P || 98D 98D 98D || 02P 02P 02P 1913-1963: CIRCULATED □ $0.25/EA: 60 | 61 | 63 | 64 | 65 35D □47D $0.50/EA:84D 40 | 56 | 59 | 62 | 66 |96D 67 | 68 □ 00 □ 00 $1.00/EACH: □ □ $1 $1 $1.00/EACH: 00 EACH EACH 13P 13P 13P || 18S 18S 18S || 25D 25D 25D || 25S 25S 25S || 28D 28D 28D || 28S 28S 28S || 29D 29D 29D || 29S 29S 29S || 86D 86D 86D $2.00/EACH: □ □ $2 $2 $2.00/EACH: 00 EACH EACH 28P 28P 28P || 30S 30S 30S || 34P 34P 34P || 35D 35D || 47D 47D || 51P 51P 51P || 84D 84D || 86P 86P 86P || 92P 92P 92P || 93P 93P 93P || 96D 96D | 57 |99D 58 | 69 | 05 | 06 | 07 | 08 | 09 | 10 | 11 | 12 □ $1 $0.25/EA OR 10 DIFFERENT FOR 39P |50 40P | 41P | 46P 49S □ 25 16D EACH 14P 17D 24S $1.25/EACH: || 18D $1.50/EACH: □ □ $1 $1.25/EACH: 25 EACH EACH 16D 16D 18D 18D || 27D 27D 27D || 27S 27S 27S $2.00: □ □ □ $1 $1 $1.50/EACH: 50 EACH 14P 14P ||| 47P 17D 17D |||48D 24S 24S ||| 26D 26D 26D □ $0.75/EA: 44 | 49 | 50 | 52 | 5398P || 99D || 01P 98P 98P 99D 01P 01P 13 | 14 | 1525P | 16 | 17 | 18 | 52D 12P | 52S|| 21S | 53D | 53S | 54D | 55D |□ | 57D | 58P |16S 58D|| |32P 59P|||32D 59D | 60P □ $3 □ $2 00 EACH $2 50 EACH 00 $2.00/EACH: || 33P $2.50/EACH: □ □51D $2 $2.00/EACH: 00| 52P EACH 12P 12P 21S 21S 33P 33P □ □56D $2 $2.50/EACH: 50 EACH 16S 16S 32P 32P 32D 32D $3.00/EACH: □ □ $3 $3.00/EACH: 00 EACH EACH | 19P 19P 19P || 20P 20P 20P || 23P 23P 23P || 24P 24P || 25P 25P || 26P 26P || 28S 28S || 29S 29S || 34D 34D 34D || 35S 35S || 38S 38S 45 | 46 | 55 | 72 |24P 74 | 75 | 7626P | 78 28S | 79 | 29S 80 | 81 | 82 35S | 83 | 38S 84 | 85 | 99P | 03D | 04P | 04D|| 60P #1 #2 □ $1.00/EA: 41 39S | 61D | 62P |15P 62D|| 15D | 63P | 63D | 64P | 64D | 70S □ $3 50 EACH □ 00 09P SMDT L $3.50/EACH: $4.00/EACH: SIL □ □60D $3 $3.50/EACH: 50 EACH 15P 15P 15D 15D □ □ $4 $4 $4.00/EACH: 00 EACH EACH 09P 09P#1|| 13D 13D 13D 60P 60P| 04P SMDT SMDT 39S 39S || 43P 43P 43P S S SIL L || 43S 43S 43S || 44P 44P 44P || 45D 45D 45D || 71P 71P 71P || 97D 97D 97D || 09D 09D 09D 86 | 87 | 88 | 01 | 02 | 03 OLD | 04 04D #2 | 05P #1 | 05D #1 | 05P #2 | 05D #2 | 06P | 06D | 07P | 07D | 08P | 08D □ $5 00 EACH 33D □ $7 00 EACH 31D □ $4 00 EACH 28D 29D 38D BUFF 42P 42S 43D 44D 45P 45S $5.00/EACH: $7.00/EACH: $4.00/EACH: □ □ $5 $5.00/EACH: 00 EACH 33D 33D □ □ $7 $7.00/EACH: 00 EACH 31D 31D □ □ $4 $4.00/EACH: 00 EACH 28D 28D || 29D 29D || 38D 38D BUFF BUFF || 42P 42P || 42S 42S || 43D 43D || 44D 44D || 45P 45P || 45S 45S || 09P 09P 09P $1.25/EA: 96 | 99 | |00 | 03 NEW □ $8 $0.50/EA: 40D09P | 40S | 41S|| 23S | 42D | 46D | 47S |□ | 49D | 50P |11D 54P | 54S | 56P | 57P □□ $5 00 □ 00 □ 00 VDB $9 00 EACH $8.00/EACH: $9.00/EACH: $5.00/EACH: $8.00/EACH: □ □ $8 $8.00/EACH: 00 EACH EACH 09P 09P VDB VDB 23S 23S □ □49P $9 $9.00/EACH: 00 EACH 11D 11D □ □ $5 $5.00/EACH: 00 EACH EACH 37S 37S 37S | 44S 44S 44S || 82D 82D 82D || 83D 83D 83D □ □ $8 $8 $8.00/EACH: 00 EACH EACH 39D 39D 39D □ $1.50/EA: 31 | 38 | 43 | 47 | 51 COM | 54 | 70 | 71 | 73 | 89 | 92 | 93 | 94 | 95 61P | 65P | 66P | 72D | 73D | 76D | 77P | 77D | 81P | 90P | 90D | 91P | 00P | 03P | 14P □ KEY & SEM KEY DATES 09S $100 10S $22 11S $49 12D $11 □ $9 00 EACH 83P □ $12 00 EA 50D □ $14 00 EACH 82P SEMI-KEY DATES: $9.00/EACH: $12.00/EA: $14.00/EACH: □ □ KEY KEY & & SEM SEMI-KEY KEY DATES DATES: 09S 09S -- $100 $100 || 10S 10S -- $22 $22 || 11S 11S -- $49 $49 || 12D 12D -- $11 $11 □ □ $9 $9.00/EACH: 00 EACH 83P 83P □ □ $12 $12.00/EA: 00 EA 50D 50D □ □ $14 $14.00/EACH: 00 EACH 82P 82P □ $2.00/EA: 32 | 35 | 36 | 37 | 39 | 42 | 51 BEA | 91 | 98 | 15D | 16P | 16D | 17P | 17D | 18P | 18D 12S -- $19 || 14D -- $189 || 14S -- $27 || 15S -- $27 || 22D -- $25 12S 12S -- $25 $25 $25 || 13S 13S 13S14D $19 $19| 15P 14D 14D $189 $189 14S 14S $27 $27 15S 15S $27 $27 22D 22D $25 $25 || 24D 24D 24D -- $42 $42 $42 CALL V S T WEBS TE OR SEE CATALOG FOR OTHER CALL, VISIT WEBSITE CALL CALL, V VISIT S T WEBS WEBSITE TE OR OR SEE SEE CATALOG CATALOG FOR FOR OTHER OTHER □ $3.00/EA: 27 | 29 | 30 | 34 | 42 TOM | 47 ML | 48 | 90 | 97 □ $0.75/EA: 67P | 74D |26S 78D-- $12 |$12 80P|| 31S | 81D | 88P|| 70S | 88D | 89P --| $59 94P | 94D | 96P | 00D SMDT -- $89 26S 26S $12 31S 31S $89 $89 70S 70S SMDT SMDT $59 $59 SER ES GRADES AND PR CES CANAD AN ALSO L SERIES, DATES, GRADES, PRICES! CANADIAN AVAIL.! SERIES, ES DATES DATES DATES, GRADES, AND PR PRICES! CES 23 CANAD CANADIAN ALSO AVA AVA AVAIL.! L □SER $4.00/EA: 22 | 24 GRADES | 28 | 77 AND □ $5.00/EA: | 33 AN ALSO | 02D | 11P 11D | 13P | 13D □ RC NCOLN CENT SET N □ AVG AVG. AVG. C CIRC. CIRC. LINCOLN LINCOLN CENT SET IN IN FOLDER AVG C RC L L NCOLN01D N |FOLDER 2018 S NGLES AVA P 2018 BU S NGLES P or 2018 2018 BU BU BU1925 S SINGLES SINGLES NGLES NOW NOW AVA AVAILABLE AVAILABLE LABLE (P P or or or D D D)! D)! □ $1.00/EA: 38P |00 42P NICKOR | 46S | 51S$45 | 53P 2018 2018 BU BU NOW S SINGLES NGLES PLABLE or or D D D) (P □ INDIVIDUALLY PRICED: - $139.00 | 1926 - (P $25.00 1941 1958 D $8 EACH 666 FOR 00 (1941-1958 (1941-1958 1941 1958 P P P-D-S): P-D-S): DS S| 41D $8 $8.00/EACH $8.00/EACH 00 EACH OR OR FOR FOR $45 $45.00 $45.00 00| 55P | 68D | 68S | 69D | 69S 1¢ 50 00 $3 00 00 1¢ 1¢: 1¢: $0 $0 $0.25 $0.25 25 || 5¢ 5¢ 5¢: 5¢: $0 $0 $0.50 $0.50 505¢|| 10¢ 10¢ 10¢: 10¢: $1 $1 $1.00 $1.00 00 || 50¢ 50¢ 50¢: 50¢:| 5¢ $3 $3.00 $3.00 00 | $1 $1 $1: $1: $3 $3 $3.00 $3.00 00 | 73P | 74P | 75P | 75D 79P | 79D | 85P |TUBES 85D | 87P | 87D | 89D | 93D | 95P □ WHITMAN FOLDERS - 25 $4.00/EA: 58-21 SILVER #1 |22-64 □ L NCOLN MEMOR AL SET N □ □ BU BU BU70D L LINCOLN LINCOLN NCOLN MEMOR MEMORIAL MEMORIAL AL| CENT CENT CENT SET SET IN IN N TUBES TUBES 25¢ P EA EA PR A VOY C 25¢ P D $0 50 S $1 00 EA PR VOY C B -- $0 $0.50/EA; -- $1 $1.00/EA (PR, AI, VOY, CI) 25¢ 25¢: 25¢: P P/D P/D D- 65-12 $0 $0.50/EA; 50 EA#3 S-S13-DATE $1 $1.00/EA 00 EA(PR, (PR, PRA A AI, VOY VOY, C CI) 25¢ 25¢: P P/D D $0 $0.50/EA; 5050 EA SS S $1 $1.00/EA 0000 EA PR A AI, VOY VOY, C CI, B BI) | 10P 10D 5¢ #2D |EA 5¢ 1959 D ET 00 (1959-2018 P-D-S, VARIETIES): $40.00/EACH (1959-2018 1959 2018 2018 P P P-D-S, DS S NO NO NO VAR VAR VARIETIES): ET ES ES95D$40 $40 $40.00/EACH 00| EACH EACH 2018 PROOF S NGLES NOW AVA LABLE 2018 CLAD PROOF S NGLES S LV ALSO AVA L SINGLES AVAILABLE! 2018 2018 PROOF PROOF S SINGLES NGLES NOW NOW AVA AVAILABLE! LABLE 2018 2018 CLAD CLAD PROOF PROOF S SINGLES NGLES (SILV. S LV ALSO ALSO AVA AVAIL.) L □ 1982 $1.50/EA: | 27PETY | 28PSET | 28D(BU): | 29S$7 | 30P | 30S | 34P | 34D | 35P | 35D | 35S | 36P | □ 777-COIN CO N BU 00 VARIETY $7.00/EACH □ □ 1982 1982 7-COIN CO 26P N VAR VAR VARIETY ETY SET SET (BU): BU $7 $7.00/EACH 00 EACH EACH CANADA DIMES | 1991-DATE: BU 1¢ $9 00 5¢ $6 00 10¢ $8 00 50¢ $11 00 $1 $10 00 1¢: $9.00 | 5¢: $6.00 | 10¢: $8.00 | 50¢: $11.00 | $1: $10.00 1¢ 1¢: $9 $9.00 00 | 5¢ 5¢: $6 $6.00 00 | 10¢ 10¢: $8 $8.00 00 | 50¢ 50¢: $11 $11.00 00 | $1 $1: $10 $10.00 00 36D |TMAN 36S | 37P | 37D | 37S$4 | 38D JEFF | 48P | 72P | 76P □ FOLDERS 00 09 40 74 WHITMAN $4.00/EACH: 09-40 || 41 41-74 □ □ WH WH WHITMAN TMAN FOLDERS FOLDERS $4 $4.00/EACH: 00 EACH EACH 09 09-40 40 41 41-74 74 | 78P | 84P | 86D | 91D | 92D $5 00 EA ALL 2018 AVA LABLE 25¢ 00 PR 25¢: $5.00/EA (ALL AVAILABLE) □ $0.75/EA: 05 | 06 | 07 | 0825¢ | 09 |$5.00/EA 10$5 | 11 12 |(PR, 13555| A 14 | VOY 15 | 16C | 17B | 18 25¢ 25¢: $5 00 EA|EA (ALL ALL 2018 2018 AVA AVAILABLE) LABLE 25¢ 25¢: $5 $5.00/EA 00 EA PR A AI, VOY VOY, C CI, B BI) 97P 99 |99-09 98D 75 13 DATE 98 09 75-13 14-DATE MEM. 59-98 MEM. 99-09 75 75-13 13 || 14 14 14-DATE DATE || MEM MEM MEM. 59 59 59-98 98 || MEM MEM MEM. 99 09 | 02P □ $1.00/EA: 01 | 01 VOL | 02 | 04 □ $1.25/EA: 03 OLD | 03 NEW □ $2.00/EA: 20P | 24P | 29P | CES 29D | 47D | 51P CHANGE | 84D | 86P THOUT | 93P | 98P | CE 99D | 01P PR ECT DENTS 777.25% 25% ES TAX | 15 DAY RETURN PR V EGE PR PRICES PRICES CES SUB SUB SUBJECT SUBJECT ECT TO TO TO CHANGE CHANGE W W WITHOUT WITHOUT THOUT NOT NOT NOTICE NOTICE CE ||| CA CA CA RES RES RESIDENTS RESIDENTS DENTS□ADD ADD ADD 7.25% 25% SA SA SALES SALES TAX 15-DAY 15-DAY RETURN PRIVILEGE PRIVILEGE $1.50/EA: 92 |ES 93TAX | 94||| 15 95 DAY | 96 |RETURN 97 | 98 | PR 99 V| 00EGE □ $2.00/EA: 91 □ $3.00/EA: 28S | 38D BUFF | 38S | 39S | 42P SILV | 42S | 43P | 43S | 44P | 45P V ew ou comp e e nven o y and hop on ne WWW MCQUEENEYCOINS COM View our complete inventory shop online: WWW.MCQUEENEYCOINS.COM V ew ou comp e e nven o y and and hop on ne WWW MCQUEENEYCOINS COM ADD $5 SH PP NG k 45D | 45S | 71P | 97D | 09D SHIPPING Checks, MO, Accepted* ADD ADD $5 $5 SH PP NG C Checks, k MO MO MO, CC CC CC A A Accepted* 2018 COINS | BU & PROOFS | US &C CANADA 66 90633 0066 ||| (855) 855 33 CO NS ||| (855) 855 332 6467 □ CHARGE $4.00/EA: TO 19P | 23PORDERS | 25P | 43D | 44D | 09PPO □ $5.00/EA: 44S | 82DCA | 83D B /S M CHARGE CHARGE TO TO ALL ALL ALL ORDERS ORDERS 66, LA HABRA, 90633-0066 33-COINS 332-6467 PO PO BOX BOX BOX 66 LA LA HABRA HABRA CA CA 90633 0066 855 33 CO NS 855 332 6467 *Billing/Shipping Must *Billing/Shipping B /S Must □ BU (P or D): 1¢: $0.25 | 5¢: $0.50 | 10¢: $1.00 | 50¢: $3.00 | $1: $3.00 M □ WHITMAN FOLDERS - $4.00/EA: BUFF 13-38 | JEFF #1 38-61 | JEFF #2 62-95 □ QUARTER: P: $0.50 | D: $0.50 | S: $1.00 | S PRF: $5.00 | SIL PF: $10.00 JEFF #3 96-15 | PLAIN NICKELS PICT. ROCKS | APOSTLE ISL | VOYAGEURS | CUMBERLAND ISL | BLOCK ISL 1956-DATE PROOF 5¢ SINGLES IN STOCK! □ PROOFS: 1¢: $9 | 5¢: $6 | 10¢: $8 / $12 (SIL) | 50¢: $11 / $27 (SIL) | $1: $10 □ CANADA (BU): 25¢: $1.00 | 50¢-$2: LIMITED AVAIL | PRICE ON REQ BUY IN BULK & SAVE EVEN MORE! WE BUY COINS, TOO! ASK FOR OUR MONTHLY SPECIALS LIST & SUPPLEMENT FOR EARCALL FOR DETAILS. □ 1938-1963 P-D-S AVG. CIRC. SET: $79.00/EA LY U.S. NICKELS, SILVER CANADA 5-CENTS, AND □ 1938-1963 P-D-S BU SET: $499.00/EA OTHER UNIQUE FINDS & DISCOUNTED COINS! □ 1942-1945 CIRC. WAR NICKEL SET: $29.00/EA □ 1942-1945 BU WAR NICKEL SET: $149.00/EA CALL, VISIT WEBSITE OR SEE CATALOGS FOR □ 1965-2018 P-D-S BU SET: $95.00/EA OTHER SERIES, DATES, GRADES, AND PRICES! □ 1968-2018 PROOF SINGLES SET: $189.00/EA

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CONTACT CONTACT TED TED BARKER BARKER AT AT 972.448.9147 972.448.9147 OR TBARKER@BECKETT.COM OR TBARKER@BECKETT.COM FOR FOR INFO INFO View our complete inventory and shop online: WWW.MCQUEENEYCOINS.COM

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Scott Travers’

Top 12 Coins for 2019 THE STABILITY TREND WILL BE YOUR FRIEND BY SCOTT A. TRAVERS

2019

will probably not be a year of surprises, good or bad, for the rare coin and precious metals market. It will likely be remembered as a year of the expected and a time of continuity and reasonable trading ranges. Without a Black Swan event, an extremely difficult to predict monumental occurrence, and I don’t expect one, gold will not surge in value and, by extension, rare coin values won’t reach for the moon. Silver, an industrial metal and commodity, will not see its most shining year either.

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The good news is that stability will reign supreme. I wouldn’t be a big buyer of gold and silver bullion as an investment in 2019; instead, I would carefully and systematically acquire gold and silver coins for your collection. Platinum and palladium, however, are a different story. These metals may well continue to outperform. So with your expectations set on safety and continuity, and having the luxury of a buyer’s market, here are my top 12 coins for 2019.


01

01

PALLADIUM 1-OUNCE WINGED MERCURY AMERICAN EAGLE

In 2017, the U.S. Mint introduced its first palladium coin, the 1-ounce American Eagle bearing Adolph A. Weinman’s Winged Mercury dime obverse. It sold out its 15,000 mintage in a few minutes. The 2018 palladium American Eagle is proving to be just as popular. The U.S. Mint is jumping on the platinum-group metal (PGM) bandwagon. Palladium, along with rhodium, platinum, iridium, ruthenium, and osmium, make up the PGMs. This sector will see much demand as more nations are tightening emissions controls, and PGMs are required in catalytic converters. China’s new national policy for emissions standards will give a significant boost to platinum. Watch the premiums that you pay over the melt value. In December 2018, with palladium at about $1,200 per ounce, both business strike and proof examples of the palladium 1-ounce Winged Mercury American Eagle were trading for close to $3,000 apiece.

2017 palladium 1-ounce Winged Mercury American Eagle bullion-coin. Photos courtesy U.S. Mint.

02

02 AND 03

$2½, $5, AND $10 GOLD PIECES FROM THE LATE 1700S AND EARLY 1800S IN (2) UNCIRCULATED AND (3) ALMOST UNCIRCULATED CONDITIONS

The Mint Act of 1792 provided for the issuance of three gold coins: an eagle, or $10 gold piece; a half eagle ($5); and a quarter eagle ($2½). The eagle and half eagle made their first appearance in 1795, with the quarter eagle joining them in 1796. The Founding Fathers felt deeply that issuing gold coins was an important means of lending credibility and prestige to U.S. coinage when the United States first took its place on the world stage, and the practice continued for nearly a century and a half. Not until the Great Depression ravaged the nation’s economy did Uncle Sam retreat from this commitment. Early U.S. gold coins are wonderful buys in any collectible grade and are extremely attractive even when lightly circulated. However, they are in a class by themselves in mint or uncirculated conditions. Like their circulated counterparts, Mint State early gold coins are truly rare, have a solid collector base, hold great appeal for investors, and enjoy an outstanding track record in the marketplace. What sets them apart from the rest is their dazzling appearance. These miniature works of art would look right at home in a gallery or museum. In 1979 and 1980, when gold bullion soared to an all-time record high of more than $875 an ounce internationally, the coin market experienced a boom. The impact was enormous across the board. When gold began surging again a quarter-century later, early gold coins got a much bigger boost than anything else and retained their luster even in the face of faltering gold prices. The universal beauty and easily appreciated rarity of these coins appeal to the most well-heeled buyers, who pursue collecting these exceptionally rare and beautiful coins.

1799 Capped Bust $10 gold, Gem Uncirculated or Mint State-65. Photo courtesy PCGS.

03

1798/7 Capped Bust $10 gold. Almost or About Uncirculated-58. Photo courtesy PCGS.

COINAGE FEBRUARY 21


04

Serious collectors were focused on multi-million-dollar classic American rarities in 2018, a trend I correctly forecast would continue in the February 2018 issue of COINage. The top 1% of income-earners in America who are collectors appreciate these coins and are causing them to rise in value as a result of high demand. A new area of interest has emerged as an outgrowth of the popularity of 1% coins: Entry level 1% coins. These coins are priced in the $400,000-$600,000 price range and represent coins such as early Gem Proof gold that have tiny mintages, with only a handful of coins extant. Coins in this category represent “entry level” for the 1%, the wealthiest Americans just starting to collect ultra-rare U.S. coins. John Dannreuther’s new proof gold encyclopedia has done much to educate collectors about this nuanced marketplace.

05

04

ENTRY LEVEL 1% COINS

THE 1804 SILVER DOLLAR

The 1804 silver dollar is one of the most famous U.S. coins and one of the most valuable. Fifteen examples are known, and a number of other coins exist in smaller quantities. Part of the lure of the 1804 dollar stems from its long status as a coin of mystery. Examples of the coin didn’t start turning up until the mid-1800s, even though U.S. Mint records stated that 19,570 silver dollars had been struck in 1804. This theory persisted for more than a century until, at last, in 1962, Eric P. Newman and Kenneth E. Bressett came up with what now is accepted as the real explanation. The key to their theory was the emergence of the so-called King of Siam Proof Set, which had been in the possession of a British family, unbeknownst to the numismatic world, for generations. The set contained examples of U.S. proof coins from the early 19th century, and though most were dated 1834, two of them – including the silver dollar – bore the date 1804. The researchers discovered that special U.S. proof sets were made in the early 1830s as gifts for Asian rulers. The sets were to be presented – although just two of them were – when a U.S. trade envoy visited those rulers’ far-off lands in hopes of forging economic ties. From their dates, it is clear that the coins were meant to be current-year issues. But silver dollars and eagles ($10 gold pieces), though still considered part of the nation’s coinage lineup, hadn’t been issued since 1804. The U.S. Mint’s solution, the researchers suggested, was to strike new examples of those coins but date them 1804. That explained why the Siam set, made in the 1830s, contained a silver dollar dated 1804. But what about those 19,570 dollars produced by the Mint in 1804? Again, the researchers had a logical answer: Since it was the Mint’s practice at that time to use coinage dies until they wore out, even after the end of a calendar year, the coins almost certainly were struck from dies left over from 1803. So the 1804 dollars made for the special sets three decades later were the only ones actually struck with that date. An 1804 dollar (Original – Class I, BB-304-Dexter) graded Proof-65 by the Professional Coin Grading Service (PCGS) sold in 2017 by Stack’s Bowers Galleries as part of the D. Brent Pogue Collection for $3.29 million. And a Proof-68 Pogue example had an offer of $10 million rejected.

22 COINAGEMAG.COM

Entry level 1% coin: 1836 Classic Head quarter eagle gold proof. Estimated mintage: 10. JD-1: three known. Photo courtesy PCGS.

05

The 1804 silver dollar is among the most famous and valuable of U.S. coins. Photos courtesy Heritage Auctions.


06

1828 Large Date, JR-2, MS-63. Capped Bust 10c. Last date of the large-size type that was made without a collar. Photo courtesy PCGS.

07

1955 doubled-die obverse Lincoln cent, Mint State-63 Red. Photo courtesy Heritage Auctions.

08

1856 Flying Eagle cent, Proof-63. Photo courtesy PCGS.

06

MINT STATE 1809-1837 CAPPED BUST DIMES

07

THE 1955 DOUBLED-DIE LINCOLN CENT GRADED MINT STATE-63 RED

08

1856 FLYING EAGLE CENT IN PROOF-63

The very first dimes had what is known as a “Draped Bust” design, showing a bust of Miss Liberty with drapery over her shoulder. In 1809, this portrait was modified and a turban-type cap was placed on Liberty’s head, creating what is known as the Capped Bust dime. This design continued until 1837, when the coin’s dimensions were slenderized, giving it the diameter still in use today. Capped Bust dimes had extremely low mintages, judged by current standards. In only four years did their output exceed 1 million, and then not by much. On the other hand, there were nine years in which the total came to less than 500,000. Furthermore, few were saved, since coin collectors were similarly sparse in those early years. There is a strong collector base for Capped Bust dimes and their varieties.

One of the biggest coin mistakes ever to escape from Uncle Sam’s clutches was a 1955 Lincoln cent with dramatically doubled images on the date and the inscriptions on the obverse. This error came about because of misalignment in a process known as “hubbing” of the dies. A coin is created by striking a planchet, or blank piece of metal, with two dies – one bearing the design for the obverse, the other having the elements for the reverse. On each die, the design appears in mirror image. A die, in turn, is made by striking a piece of tempered steel with a hub, a harder piece of steel on which the design is positive, or just the way it will look on the finished coin. To make the impression stronger, technicians give each master die multiple blows with the hub. On rare occasions, the hub and die become misaligned between blows, and when that occurs, the die emerges with doubling of the images. That’s what happened in 1955. Inspectors discovered this problem, but not before small but significant quantities of “doubled-die” cents – perhaps 30,000 – had been mixed with normal coins. Rather than destroy the whole batch, they decided to let the misstrikes go. An MS-63 Red certified by PCGS, if you can find one, should cost you about $7,000.

By the 1850s, the large copper cent had worn out its welcome, along with the pockets of many Americans, because it was so heavy and inconvenient to carry around. The U.S. Mint conducted tests to find a suitable substitute and settled at length on a much smaller coin made from an alloy of 88% copper and 12% nickel. The coin was the same diameter as the current Lincoln cent but thicker and nearly twice as heavy. It carried a portrait showing an eagle in flight and came to be known as the Flying Eagle cent.

COINAGE FEBRUARY 23


08

The Flying Eagle cent wasn’t struck for commerce until 1857. However, the Mint produced small quantities of the coin in 1856 for presentation to members of Congress, Treasury officials, and other dignitaries, partly to show them what it had in mind and partly to win their support. Researchers estimate that more than 600 were distributed in this fashion and that hundreds of restrikes were made a few years later, using the same dies, for sale to collectors of the day – a combined total of possibly 1,500, all of them proofs. The 1856 Flying Eagle cent has always been popular with collectors and doubtless always will be. Besides being rare, it’s also the nation’s first small-size cent. Prices are far from cheap – $25,000 in Proof-63 – but this coin will always be worth a pretty penny.

09

1913-S VARIETY 2 BUFFALO NICKEL GRADED MINT STATE-65

The very first examples of this chiseled-looking coin were different from those that followed in a subtle yet significant way: The bison was depicted standing atop raised ground – what collectors refer to as a “mound.” This reinforced the naturalistic appearance of the coin. Unfortunately, though, designer James Earle Fraser had chosen this location for the crucial inscription “FIVE CENTS,” and because this part of the coin was relatively high and exposed, that statement of value soon began wearing off in circulation. To correct this problem, the Mint did away with the mound, showing the bison instead on a straight line or “plain,” with the words “FIVE CENTS” recessed below it. Buffalo nickels were made in both varieties that year at all three mints then in operation: Philadelphia, Denver, and San Francisco. The scarcest of these was the “plain” variety from San Francisco, with a mintage of barely 1.2 million. The S-mint “mound” variety also is scarce, with a mintage of only about 2.1 million. But this was saved in far greater numbers in mint condition because it was the first to appear; when the second version came out, many saw no reason to set it aside. The 1913-S Variety 2 nickel is far from cheap; certified as Mint State-65, it will cost you roughly $2,600. It is extremely elusive in higher grades.

10

1856 Flying Eagle cent, Proof-63. Photo courtesy PCGS.

09

1913-S Type 2 Buffalo nickel, MS-65. Photo courtesy PCGS.

10

COINS WITH GRADES VERIFIED BY CAC

A coin already in an NGC or PCGS plastic holder receives a green holographic sticker if, in the opinion of the Certified Acceptance Corporation (CAC), the coin is solidly graded or high-end for its grade. Coins in holders with CAC green stickers sometimes sell for a considerable premium more than their counterparts without CAC stickers. A tumultuous 2018 for PCGS, which saw key employees leave the company, has caused many collectors to rely more on CAC than in previous years. I expect this trend to intensify.

24 COINAGEMAG.COM

Certified Acceptance Corporation (CAC) green sticker. Photo courtesy CAC.


11

Popular one-year type coin: 1796 Draped Bust quarter, MS-62. Photo courtesy PCGS.

12

1881-S Morgan dollar, MS-66. Common-date Morgan dollars, such as this with wild rainbow toning, have brought tens of thousands of dollars at auction, despite reasonable price guide prices.

11

SCARE OR RARE ONE-YEAR TYPE COINS

12

MORGAN SILVER DOLLARS WITH WILD TONING

In recent years, many collectors have abandoned date-andmint collecting and turned instead to assembling sets of “type coins.” Rather than encompassing every date in a series from every mint, a “type set” contains just one example of any particular coin, or one example of every major type within that series. Major types are often one-year issues. Frequently, problems arise when a coin is first produced and the Mint makes adjustments to fix it before the next year’s run. Since demand is high for these one-year type coins and the supply is limited to just that single year, there’s strong upward pressure on their value. Some are relatively common; the Type 1 Buffalo nickel isn’t a scarce issue, for example, and I do not recommend it as a great investment. Others, however, are quite rare. Those coins I do recommend. These include the 1796 Draped Bust quarter and the 1916 Standing Liberty quarter in virtually all grades.

Over the last quarter-century, silver dollars have been perennial pace-setters in the coin market, with the Morgan dollar reigning as king of the hill. Morgan dollars are the most popular and widely collected of all coins. There are good reasons for this. These are large, bulky coins with high precious-metal content – more than three-quarters of an ounce of silver – they’re old, often dating back more than a hundred years, and many are extremely well-preserved, since millions never left bank and government vaults. These qualities give silver dollars exceptional appeal not only to collectors but also to investors purchasing coins for their portfolios. Colorfully toned cartwheels certified as MS-66 and available for purchase at $500 with auction comparables at $10,000 or $20,000 are irresistible. This is a niche area, and the number of people capable of picking out the winners is limited. I like the most spectacularly toned examples of the most common dates for the lowest prices. •

Photo courtesy PCGS.

“I wouldn’t be a big buyer of gold and silver bullion as an investment in 2019; instead, I would carefully and systematically acquire gold and silver coins for your collection. Platinum and palladium, however, are a different story. These metals may well continue to outperform.” COINAGE FEBRUARY 25


Worth Its

Weight In

In 1652, Massachusetts began striking silver coins for public use. (Photo courtesy Heritage.)

26 COINAGEMAG.COM


n Silver W The 1792 half disme was the ďŹ rst silver coin struck by the United States Mint. The portrait may have been that of Martha Washington. (Photo courtesy Heritage.)

COINAGE CONTENT CHANGES REFLECT THE TIMES BY R.W. JULIAN

hen the first settlers from Britain came to what is now the United States, there was little in the way of coined money to use in the marketplace. Barter was the order of the day, and crops, such as tobacco in Virginia, were often used to pay taxes. By 1652, this lack of a circulating coinage had become serious enough that Massachusetts began minting its own silver coins, suitably debased from the legal English standard. This reduced weight kept the silver at home and provided a measure of relief for hard-pressed merchants. In 1684, however, the coinage was halted when the London government refused to tolerate it any longer. During the early 1700s, a continuing shortage of gold and silver forced Colonial governments to issue paper money in ever-increasing amounts, which soon depreciated when measured against specie. Parliament repeatedly passed laws forbidding such issues but made little effort to provide Colonial marketplaces with sufficient coinage. One of the underlying causes of the American Revolution was the second-class status of the American economy. Political leaders, such as Benjamin Franklin, wanted the colonists to manage their own affairs, including the monetary system, without interference from the British Crown. It took money to fund the Revolutionary War, and the colonists had little of that. So like the alchemists of old, they created a paper currency backed by the Spanish milled dollar. But it would have been a rare citizen indeed who could have persuaded the government to honor that pledge. The Continental Congress was not as naĂŻve as it appears, however. It had little or no taxing power and the issues of paper depreciated, creating a reverse tax. In effect, those who were forced to use the Continental currency thus paid for the war as the value of the bills continued to fall. When the war was over, the public had seen enough of paper currency and a nearly bankrupt national government was barely able to remain in existence. In the 1780s more than one attempt was made to create a monetary system, but all failed because the government could not even find enough money to build a mint. In 1787, influential citizens met in Philadelphia to hammer out a document later to be known as the Constitution. Written into this document were restrictions on the States issuing paper money though, despite popular belief to the contrary, the Federal Government had the power to do so.

GETTY IMAGES

COINAGE FEBRUARY 27


Above: Regular silver coinage at the Philadelphia Mint began in October 1794 with the silver dollar.

Above: The Spanish 2 reales, equal to the American quarter dollar, was in widespread use in the United States until the 1850s.

(Photo courtesy Heritage.)

The first dimes were struck in 1796. (Photo courtesy Stack’s Bowers.)

The new government began operations in April 1789 under President George Washington, and it was not long before Treasury Secretary Alexander Hamilton was able to bring order out of chaos when it came to finding the necessary funds to administer the country. By late 1789, enough had been accomplished by Hamilton that the government turned its thoughts to a monetary system. In March 1790, Congress asked Hamilton to determine what was necessary to create our own coinage. His detailed report was submitted to the legislators in January 1791. Hamilton recommended a bimetallic monetary system with a fixed relationship between gold and silver. He reported that the current international ratio was 15 to 1 (i.e. one ounce of gold was worth 15 ounces of silver) and suggested that we adopt this as our standard. Some historians, in hindsight, have stated that Hamilton should have chosen a single standard, such as silver, because the gold and silver ratio on international markets tended to change over time. Hamilton, however, was only doing what was generally accepted in the 18th century, and the later failures of Congress to adjust the ratio in a timely fashion was not his fault. Hamilton chose the Spanish milled dollar (8 reales) as the basis for the new American dollar, giving it a content of 371.25 grains (24.06 grams) of pure silver. The weights of the gold coins were then calculated by Hamilton based on the suggested ratio of 15 to 1. He suggested that the fineness be 11/12ths (.917), meaning 11 parts of silver and one of copper. At first, Congress did little except for a March 1791 resolution authorizing the President to carry out Hamilton’s ideas. 28 COINAGEMAG.COM

By October, Washington had decided that the resolution was insufficient and informed Congressional leaders that something more concrete was required. The Senate got the point, and a committee was appointed to write draft legislation. The Senate committee ignored Hamilton’s fineness and weight suggestions. The silver dollar, with the fractional pieces in tandem, now weighed 416 grains rather than the 405 grains recommended by Hamilton. The fineness was an awkward .8924. The amount of pure silver in the dollar, however, remained at 371.25 grains. President Washington signed the coinage bill in early April 1792, and the rest of that year was spent preparing for coinage. In July 1792, a trial mintage of half dismes was undertaken under the authority of the President, but the issue was too small to be of importance. In the 19th century, there was speculation that Martha Washington’s portrait had appeared on the 1792 half disme, but this theory later fell out of favor. Recent research, however, has shown that artist Joseph Ceracchi, who created the designs for the half disme, was a strong admirer of the First Lady and may well have used her portrait for this coin. Because of high bond requirements for key Mint officers, regular coinage of the precious metals did not begin until October 1794, when 1,758 silver dollars were struck. Gold did not follow until July 1795. For a few years, the bimetallic system of gold and silver at the 15 to 1 ratio worked reasonably well. Little of the new coinage went into circulation, however, except for silver dollars and half dollars. Other coins, primarily gold, were exported or kept in bank vaults as backing for paper money.


From 1817 to 1840, the most important silver coin struck at the mints was the half dollar. (Photo courtesy Heritage.)

It should be noted that the early silver coinage, prior to 1835, depended on private citizens bringing their silver bullion or foreign coins to the mints. (There was no government bullion fund for coinage until that year.) Hamilton’s 15 to 1 ratio was a virtual dead letter by 1800. The international banking community, reacting to the ongoing military threats by Napoleon Bonaparte, grew nervous, and gold became more popular, and thus more valuable, as Europeans sought to find something that could be easily hidden yet maintain its intrinsic value. With Congress loathe to act, Mint Director Elias Boudinot halted the coinage of silver dollars and gold eagles in order to keep our coins from being so heavily exported. The dollars in particular went to China, never to return. The outflow of silver did lessen but the loss of gold became worse, and by 1815 United States gold coins did not circulate in this country. The loss of gold to the marketplace meant that silver was now the standard of value in the United States. We were now on a de facto silver standard and would remain so until 1834. The Mint concentrated after 1805 on half dollars and half eagles, the latter being increasingly exported. The half dollars, on the other hand, were used in everyday transactions as well as backing for private issues of paper money by many banks. Half dollars even reached the frontier as they were used in Indian treaty payments. Does this mean that the average person had no coins except the copper cent or half dollar for the marketplace? The answer is no because large quantities of small Spanish silver coins, such as the real (equal to 12.5 cents) and 2 reales (equal to 25 cents), were in widespread use. It is for this reason that store prices were often seen as 12.5 or 37.5 cents. Small U.S. silver

coins were seldom seen until the late 1820s. As a result of pressure from President Andrew Jackson, Congress in 1834 passed a law that changed the amount of gold in the coinage. Instead of a ratio of 15 to 1, the new arrangement was 16.002 to 1, more in line with the international marketplace. The result was that gold now came to the United States, rather than leaving our shores. For the first time in U.S. history, there was now gold in everyday domestic use. By 1836, however, it was realized that the 1834 law had slightly overvalued gold, and the ratio was revised accordingly in January 1837 to 15.998 to 1. One of the reasons for this change was the concern that the new gold coinage might create a situation where silver would again be exported. The 1837 law also changed the silver coins slightly by altering the fineness to .900. The pure silver content remained the same; however, the dollar weighed 412.5 grains instead of 416. The smaller silver coins were in proportion. From 1837 through 1848, the nation enjoyed true bimetallism. In 1836 the Mint reintroduced the silver dollar to active use, although it was intended to be used by banks as reserves for their paper money. The idea was to reduce the number of half dollars struck by the Mint and thereby free up the coining presses for other denominations. Bimetallism suffered a fatal blow with the 1848 discovery of gold in California. So much gold was mined that, coupled with equally large quantities from Australian mines, silver coins were soon undervalued. Bullion dealers began to buy up silver coins with gold, and by 1850 few silver coins were to be found in daily use. In response to the coin shortage, Congress decreed in early COINAGE FEBRUARY 29


1851 a silver 3-cent piece, the trime, as a stopgap measure. It was sufficiently debased so that bullion dealers were not interested; it did not solve the coin shortage but was a strong step in the right direction. The trime weighed only .8 of a gram, the lightest coin ever struck by the United States. The fineness was only .750, well below the .900 of the regular silver coins. Congress took decisive action in February 1853 by lowering the weights of silver coins, except the dollar, by about 6 percent. The legal ratio of 15.998 to 1 remained in force, as depositors could still bring silver to the mints for dollar coins; otherwise minor silver coins were struck on government account only. The nation was now on a de facto gold standard because silver dollars no longer circulated. Arrows were placed at the dates of minor silver coins from 1853 to 1855 to denote the decrease in weight. From 1837 to 1853, the half dollar, with the smaller silver in proportion, weighed 206.25 grains (13.36 grams), but this became 192 grains (12.44 grams) in 1853. The fi neness did not change, and the trime was now struck to the same level of purity. The 1853 reform put the monetary system back on an even keel. There was plenty of gold and silver for public use until 1861, when the Civil War erupted. The conflict forced yet another change in the currency. The year 1862 saw the complete disappearance of silver and gold coinage from the marketplace and replacement with paper money. The government had again turned to the printing press, just as in 1776.

Beginning in 1836, the dollar coin was again struck for the public.

In 1851, the mints began striking a debased silver 3-cent piece. (Photo courtesy Heritage.)

30 COINAGEMAG.COM

In reality, some silver coins did continue to circulate, but only on the West Coast and in limited numbers. The extraordinary cost of the war made it impossible for several years to bring gold or silver back into the marketplace. In early 1873, however, the mint laws were overhauled and the polite fiction about bimetallism still being in effect was quietly dropped. We were now officially on the single gold standard but without any gold coins in daily use. By the summer of 1873, minor silver coins (with arrows again at the date, reflecting a slight increase in weight) found their way to the marketplace. The nation had once more weathered a severe monetary crisis and silver coins were in plentiful supply. The half dollar, for example, now weighed 12.5 grams instead of 12.44. Ostensibly, the change was to accommodate the metric system, but the real reason was to use more silver. One of the denominations abolished by Congress in 1873 was the silver dollar, which was replaced by the Trade dollar, intended to export excess silver to the Orient. However, the ever-falling price of silver meant that those persons with a stake in the mining industry began to call for a resumption of regular dollar coinage. The idea was to allow the public to bring silver to the mints, but supporters failed to realize that this would have brought chaos to the monetary system. The Trade dollar weighed 420 grains (27.22 grams), 7.5 grains heavier than the old silver dollar. The increased weight was necessary to compete with the Mexican dollar in the Oriental market.

The New Orleans Mint began striking dimes in 1838. (Photo courtesy Stack’s Bowers.)

In 1853, arrows were added at the date to show a change of weight. (Photo courtesy Heritage.)


In February 1878, Congress responded by reinstating the silver dollar. However, mindful of the evils that would have resulted from unlimited coinage, the government was instead required to buy silver on the open market for the dollar coinage. The weight of the dollar remained at 412.5 grains and .900 fine silver, as adopted in the 1837 law. Despite massive quantities of silver turned into dollars that nobody really wanted, in 1890 the Sherman Silver Purchase Act was passed, mandating even more silver to be purchased for dollar coinages. The result was disastrous. Because the Sherman Act was perceived by European bankers as financial folly, foreigners holding American gold bonds began to demand payment in gold; soon the U.S. Treasury was facing bankruptcy. In 1893, newly inaugurated President Grover Cleveland, in an act of statesmanship, forced Congress to repeal the Sherman Act, thus saving the monetary system from collapse. The 1896 presidential race between William Jennings Bryan and William McKinley ended in victory for the latter and also marked the effective end of the silver movement. Bryan, who knew next to nothing about monetary systems and market forces, made his famous “Cross of Gold” speech in which he blamed gold for most of the evils in the world. He demanded free coinage of silver at the old ratio of 16 to 1 at a time when the current market ratio was 30 to 1. The 1896 campaign was especially interesting for the tokens and medals that attacked or defended Bryan and his 16 to 1 proposal. In 1900, as an afterthought, Congress passed a resolution

Beginning in 1873, Trade dollars were struck in an effort to export our surplus silver. (Photo courtesy Heritage.)

The first Peace dollars were struck in late December 1921. (Photo courtesy Stack’s Bowers.)

stating that we were indeed on the gold standard while promising to use silver as much as possible in our coinage. Most legislators did not realize that we had been on the gold standard since 1853. During World War I, large numbers of silver dollars were melted to aid the British war effort. Beginning in 1921, Peace dollars were struck to replace the melted Morgan dollars. The depression that began in 1930 reached epic proportions in early 1933, forcing incoming President Franklin D. Roosevelt to take drastic steps. One of these measures, which proved a failure in the long run, was to take the United States off the gold standard and inflate the currency by raising the price of gold. Gold coinage was called in, and the right of the public to own gold was to remain in abeyance until 1974. Although gold was no longer coined, silver was and in large quantities. The price of silver remained under $1 per ounce well into the late 1950s, but a growing demand for precious metals eventually forced an increase in price. By the early 1960s, United States mints were striking large numbers of silver coins at barely over melt value. A 1965 law put an end to silver coinage in the United States except for a debased half dollar containing 40% silver and weighing 11.5 grams. The last of these debased half dollars was struck in 1970, and after that silver was permanently gone from the everyday coinage seen by the American public. Silver coins had served the nation well until the 1960s but now are little more than a distant memory to the older generation of collectors. •

In 1878, the mints resumed striking standard silver dollars. (Photo courtesy Professional Coin Grading Service.)

1964 marked the end of 90% silver coinage in the United States. (Photo courtesy Heritage.)

COINAGE FEBRUARY 31


THE COINAGE PRICE GUIDE

FEBRUARY 2019

COINage_Feb19_Layout 1 13-12-2018 18:13 Page 32

1859-1909 INDIAN HEAD CENTS G04

VG10

F15

VF20

XF40

AU50

MS60

MS65

25

60

125

175

300

400

900

7250

1895

2

2.75

3.50

4

12

20

40

200

1896

2

2.75

3.50

4

15

20

40

200

1897

2

2.75

3.50

4

15

20

40

225

1898

2

2.75

3.50

4

15

20

40

175

1894 (double die date)

1856-1858 FLYING EAGLE CENTS G04

VG10

F15

VF20

XF40

AU50

MS60

MS65

1899

2

2.75

3.50

4

15

20

40

175

1856

6500

7500

10000

11000

11500

12500

17500

60000

1900

2

2.75

3.50

4

12

20

35

175

1857

30

40

45

50

175

225

500

4000

1901

2

2.75

3.50

4

12

20

35

175

1858 (small letters)

30

40

55

75

175

275

475

5000

1902

2

2.75

3.50

4

12

20

35

175

1858 (large letters)

30

40

55

80

175

250

425

4500

1903

2

2.75

3.50

4

12

20

35

175

1904

2

2.75

3.50

4

12

20

35

175

1905

2

2.75

3.50

4

12

20

35

175

1906

2

2.75

3.50

4

12

20

35

175

1907

2

2.75

3.50

4

12

20

35

175

1908

2

2.75

3.50

4

12

20

35

175

1908-S

65

90

100

125

150

200

250

775

1909

10

12

15

18

20

30

40

150

450

525

575

600

700

850

1000

2250

MS66

1909-S

1859-1909 INDIAN HEAD CENTS G04

VG10

F15

VF20

XF40

AU50

MS60

MS65

1859

15

20

25

45

100

175

275

3750

1860

10

15

20

35

75

100

200

1500

1860 (point bust)

20

35

50

60

100

150

300

5000

1861

25

35

50

60

100

150

200

1750

1862

8

10

15

25

50

75

125

1275

1863

8

10

15

25

50

75

125

1200

1864 (copper, nickel)

20

30

40

60

90

100

200

1750

1864 (bronze, round bust)

10

18

30

40

60

80

100

350

1864 (bronze, point bust)

50

100

125

150

250

325

425

1750

1865

8

15

20

25

45

55

100

450

1866

40

60

90

100

175

225

300

1000

1909

1867

50

80

100

125

175

225

275

1000

1909-S

1868

35

60

90

125

175

225

275

875

1869

75

150

225

325

450

500

675

1500

200

500

700

800

900

1000

1200

2500

1910-S

75

150

225

300

425

475

575

1250

1911

1871

75

150

275

300

400

525

625

2000

1872

100

225

325

400

550

675

775

2750

1912

1869/9 1870

1873 (closed 3)

1909-1958 LINCOLN WHEAT CENTS 1909 V.D.B. 1909-S V.D.B.

VG10

VF20

XF40

AU50

MS60

MS63

MS65

10

12

15

18

20

30

65

100

600

700

90

1150

1250

1750

3000

5000

4

5

6

10

15

25

65

100

125

150

225

250

325

375

575

1000

1909-S (S over horizontal S)

135

200

250

325

400

500

1000

-

1910

0.50

1

5

8

18

30

125

200

20

30

50

65

100

175

275

-

1.25

2.50

8

10

20

50

150

275

1911-D

7

10

50

75

100

200

450

-

1911-S

50

55

75

100

200

325

775

1250 300

25

50

75

100

200

250

400

1500

2.25

2.50

12

25

40

60

125

300

800

1400

1600

2500

4000

8000

-

1912-D

12

25

65

100

175

225

625

-

1873 (open 3)

25

50

65

75

175

200

300

1000

1912-S

30

40

80

100

200

300

875

1500

1874

15

30

60

65

100

150

225

600

1913

1875

15

40

60

70

125

150

250

600

1913-D 1913-S

1873 (closed 3, double liberty)

1876

30

50

100

125

200

250

325

700

1877

625

900

1250

1750

2500

2750

3750

8500

1878

25

50

100

125

225

250

350

1879

7

12

20

35

75

80

1880

4

7

10

12

30

50

1881

3

6

8

10

25

1882

3

6

8

10

25

1883

3

6

8

10

25

30

1884

4

7

10

12

30

45

1885

6

10

20

25

65

75

1886

3

15

40

50

150

175

1886 (obverse of 1887)

7

20

35

50

150

1887

3

5

7

8

18

1888/7

2000

4000

6500

8500

-

-

1888

2.50

5

7

8

25

30

1889

2

3.50

5

6

15

25

1890

2

3.50

5

6

12

25

1891

2

3.50

5

6

12

1892

2

3.50

5

6

20

1893

2

3.50

5

6

1894

5

10

15

20

32 coinagemag.com

1.25

3

18

25

40

60

175

625

4

10

50

70

100

225

525

900 1250

18

30

50

75

150

300

700

1914

1.75

5

20

35

55

75

250

-

800

1914-D

250

400

900

1500

2250

3500

7250

12000

100

325

1914-S

35

40

90

150

350

500

1250

-

80

300

1915

4

15

50

60

90

125

350

575

30

55

300

1915-D

4

8

25

45

80

125

275

575

30

55

275

1915-S

25

30

65

100

200

575

1250

2500

55

250

1916

0.75

2.50

8

12

18

45

100

125

80

350

1916-D

2.50

5

15

30

70

150

550

1500

100

525

1916-S

200

1250

150

200

30

55

4

10

25

45

100

225

1000

2250

1917

0.50

2

5

10

15

35

150

-

850

1917 (double die obverse)

275

350

1250

2000

3000

4000

-

-

325

1917-D

2.50

5

25

40

80

150

375

1750

-

-

1917-S

1.25

3

10

25

85

200

1000

-

70

650

1918

0.50

1

4

10

15

35

150

325

50

300

1918-D

1.75

5

12

30

75

150

625

-

50

350

1918-S

1.75

4

12

30

100

250

1250

3500

25

50

275

1919

0.50

1

3

5

12

30

65

150

25

50

250

1919-D

1.75

4

10

30

70

125

425

700

18

25

50

225

1919-S

1.25

3

6

20

60

150

550

-

40

55

75

425

1920

0.50

1.50

2.50

5

15

25

60

-


COINage_Feb19_Layout 1 13-12-2018 18:13 Page 33

1909-1958 LINCOLN WHEAT CENTS

XF40

AU50

MS60

MS63

MS65

MS66

1920-D

2.50

6

18

35

75

150

500

1250

1920-S

1.25

3

10

35

100

225

1000

-

1921

1.25

3

10

20

45

75

150

350

1921-S

2.50

6

40

65

125

225

850

-

1922-D

20

25

40

65

100

200

425

-

1944-D (D over S)

1922 (missing D)

800

1000

2250

4250

12000

28000

88000

-

1923

0.75

1.50

5

8

15

30

125

200

7

12

45

85

225

475

1500

0.50

1

5

10

25

45

1924-D

45

60

100

150

300

1924-S

2.50

6

25

70

1925

0.40

0.60

3

6

1925-D

2.50

6

12

1925-S

1.75

3

12

1926

0.40

0.60

1926-D

2.50

1924

1926-S

VG10

VF20

XF40

AU50

MS60

MS63

MS65

45

60

100

150

200

300

-

-

1943-S steel

0.20

0.50

0.75

1

3.50

12

30

65

1944

0.06

0.10

0.15

0.25

0.50

3.50

10

12

1944-D

0.10

0.20

0.25

0.30

0.50

1.75

10

15

-

-

-

-

-

475

800

1500

1944-S

0.06

0.10

0.25

0.30

0.40

1.75

8

12

1945

0.06

0.10

0.25

0.30

0.40

1.75

8

12

-

1945-D

0.06

0.10

0.25

0.30

0.50

1.50

8

15

90

175

1945-S

0.06

0.10

0.25

0.30

0.40

2.25

10

15

525

1250

3000

1946

0.06

0.10

0.25

0.30

0.40

1.50

7

15

125

350

1500

-

1946-D

0.06

0.10

0.25

0.30

0.40

0.75

7

15

10

20

75

-

1946-S

0.06

0.10

0.25

0.30

0.40

1

7

12

30

65

125

475

-

1947

0.06

0.10

0.25

0.30

0.40

1

5

12

30

125

250

875

3750

1947-D

0.06

0.10

0.25

0.30

0.40

0.75

7

15

2

4

10

20

40

85

1947-S

0.06

0.10

0.25

0.30

0.40

0.75

8

12

6

15

30

75

150

675

-

1948

0.06

0.10

0.25

0.30

0.40

1

7

12 12

1943-D steel (doubled D)

MS66

10

15

30

60

275

525

3000

-

1948-D

0.06

0.10

0.25

0.30

0.40

0.75

7

1927

0.35

0.60

2

4

10

20

55

125

1948-S

0.06

0.10

0.25

0.30

0.75

1.75

7

12

1927-D

2.25

3

8

25

60

100

325

650

1949

0.06

0.10

0.25

0.30

0.40

1

5

12

1927-S

2.50

6

15

35

75

200

850

-

1949-D

0.06

0.10

0.25

0.30

0.40

1.25

5

18

1928

0.35

0.60

2

3

8

15

65

125

1949-S

0.06

0.10

0.25

0.30

1.25

3

7

18

1928-D

1.75

4

5

15

35

70

275

-

1950

0.06

0.10

0.25

0.30

0.40

1.50

6

10

1928-S

1.75

4

10

25

70

150

350

-

1950-D

0.06

0.10

0.25

0.30

0.40

1.50

6

12

1929

0.35

0.60

2

3

8

15

45

90

1950-S

0.06

0.10

0.25

0.30

0.40

1.50

6

10

1929-D

1.25

3

5

12

25

40

125

250

1951

0.06

0.10

0.25

0.30

0.50

1.50

6

10

1929-S

1.75

3

6

12

20

35

80

150

1951-D

0.06

0.10

0.25

0.30

0.40

1.50

6

10

1930

0.35

0.60

1.25

2

6

10

25

40

1951-S

0.06

0.10

0.25

0.30

0.50

1.50

6

10

1930-D

0.50

1

2.50

4

15

30

50

100

1952

0.06

0.10

0.25

0.30

0.50

1.50

6

10

1930-S

0.55

1

2

5

10

15

35

70

1952-D

0.06

0.10

0.25

0.30

0.40

1.50

7

15

1931

0.75

2

4

8

20

35

70

100

1952-S

0.06

0.10

0.25

0.30

1.25

3

7

12

1931-D

7

8

15

35

60

100

200

350

1953

0.06

0.10

0.25

0.30

0.40

1.50

6

12

1931-S

75

100

125

135

175

200

300

525

1953-D

0.06

0.10

0.25

0.30

0.40

1.50

6

10

1932

2.50

4

5

12

18

30

45

75

1953-S

0.06

0.10

0.25

0.30

0.40

1.50

6

12

1932-D

2.25

3

5

12

18

30

50

125

1954

0.06

0.10

0.25

0.30

0.40

1.50

6

10

1933

2.25

3

6

12

20

30

45

80

1954-D

0.06

0.10

0.25

0.30

0.40

1.25

4

10

4

6

12

18

25

35

50

100

1954-S

0.06

0.10

0.25

0.30

0.40

1

4

10

1934

0.35

0.50

1

2.75

6

10

18

30

1955

0.06

0.10

0.25

0.30

0.40

0.75

4

8

1934-D

0.75

1.25

4

8

15

20

30

60

1955 (double die date)

1250

1500

1750

2000

2500

3000

8500

-

1935

0.15

0.25

0.50

1

1.75

7

18

30

1955-D

0.06

0.10

0.25

0.30

0.40

0.75

3

8

1935-D

0.35

0.60

1

2.50

5

10

18

25

1955-S

0.06

0.10

0.25

0.30

0.40

1

4

7

1935-S

0.50

1

2

4.50

12

18

40

75

1956

0.06

0.10

0.25

0.30

0.40

0.75

6

12

1936

0.25

0.40

1

1.50

2.25

4

10

18

1956-D

0.06

0.10

0.25

0.30

0.40

0.75

5

12

20

40

80

100

200

300

800

-

1957

0.06

0.10

0.25

0.30

0.40

0.75

3

10

1936-D

0.35

0.60

1

1.50

5

8

15

20

1957-D

0.06

0.10

0.25

0.30

0.40

0.75

3

18

1936-S

0.35

0.60

1

2

5

8

15

30

1958

0.06

0.10

0.25

0.30

0.40

0.75

3

10

1937

0.35

0.60

1

1.50

2

3

7

15

1958-D

0.06

0.10

0.25

0.30

0.40

0.75

3

10

1937-D

0.35

0.60

1

1.50

3

4

15

18

1937-S

0.35

0.60

1

1.50

3

8

12

25

1938

0.35

0.60

1

1.50

3

5

9

18

1938-D

0.35

0.60

1

1.50

3

5

12

18

1938-S

0.45

0.80

1

2

3

5

15

20

1939

0.35

0.60

1

1.50

2

3

8

20

1939-D

0.35

0.60

1

1.50

3

4

12

20

1939-S

0.35

0.60

1

1.50

3

4

10

25

1940

0.35

0.60

0.75

1

2

3

4.5

18

1940-D

0.35

0.60

1

1.50

2

3

10

15

MS67

1933-D

1936 (double die obverse)

THE COINAGE PRICE GUIDE

VF20

1923-S

FEBRUARY 2019

1909-1958 LINCOLN WHEAT CENTS VG10

1866-1883 SHIELD NICKELS G04

1940-S

0.35

0.60

1

1.50

2

3

10

18

VG10

VF20

XF40

AU50

MS60

MS65

1941

0.35

0.60

1

1.50

2

3

8

12

1866

30

50

80

150

225

325

2000

-

1941-D

0.35

0.60

1

1.50

2

3

6

12

1867 (with rays)

40

55

100

200

250

400

3500

35000

1941-S

0.35

0.60

1

1.75

2

3

10

18

1867 (without rays)

20

30

40

65

100

150

800

-

1942

0.35

0.60

0.75

1

1.25

3

7

12

1868

20

30

40

70

100

150

800

-

1942-D

0.35

0.60

0.75

1

1.25

3

10

18

1869

20

30

40

70

100

150

800

10000

1942-S

0.40

0.75

1

1.50

5

8

12

15

1870

25

45

60

90

100

175

2000

10000

1943 steel

0.15

0.30

0.50

0.60

1

3.50

25

50

1871

80

125

200

300

325

450

2500

-

1943-D steel

0.45

0.60

0.75

1

1.50

8

25

50

1872

20

35

60

90

100

175

1750

22500

33


THE COINAGE PRICE GUIDE

FEBRUARY 2019

COINage_Feb19_Layout 1 13-12-2018 18:13 Page 34

1866-1883 SHIELD NICKELS

1883-1912 LIBERTY HEAD NICKELS

G04

VG10

VF20

XF40

AU50

MS60

MS65

MS67

1873 (closed 3)

40

60

100

150

225

300

2750

-

1873 (open 3)

20

35

50

75

100

150

2250

-

1874

20

35

75

100

125

200

1750

-

1875

30

50

85

125

150

250

1500

-

1876

25

50

85

125

150

200

1500

-

1879

300

550

750

975

1000

1500

3500

14000

1880

1000

1750

3000

6250

7000

12000

75000

-

1881

250

350

500

700

850

1000

2750

7750

1882

15

25

40

65

95

150

700

5000

1883

15

25

40

65

95

150

675

4500

200

350

800

1250

1500

2000

10250

22500

1883 (3 over 2)

VG10

VF20

XF40

AU50

MS60

MS65

MS66

1898

6

25

50

70

125

800

2250

MS67 -

1899

4

20

30

60

90

575

1500

12500

1900

4

20

30

60

85

550

1500

15500

1901

3

12

30

60

85

525

1500

18000

1902

3

12

30

60

85

525

1250

12000

1903

3

12

30

60

85

525

1250

12000

1904

3

12

30

60

85

525

1000

7500

1905

3

12

30

60

85

525

1000

-

1906

3

12

30

60

85

650

3750

-

1907

3

12

30

60

85

775

2000

-

1908

3

12

30

60

85

1000

3500

9500

1909

3

12

30

75

100

950

2500

-

1910

3

12

30

60

85

675

3750

15000

1911

3

12

30

60

85

525

1250

-

1912

3

12

30

60

85

525

1500

-

1912-D

12

40

75

175

300

2000

5500

18000

1912-S

200

500

975

1250

1500

3000

5500

20000

1866-1883 SHIELD NICKELS PROOFS 1866 1867 (with rays)

PR60

PR61

PR62

PR63

PR64

PR65

PR66

PR67

1250

1500

1750

2000

2250

3000

5000

18000

18000

20000

25000

35000

42750

62500

75000

-

1867 (without rays)

225

275

325

500

1250

2250

4500

-

1868

250

275

300

375

600

1250

2250

4250

1869

225

275

300

375

550

950

1500

3750

1870

225

275

300

375

525

1000

2500

-

1871

225

275

300

400

550

1000

1500

6250

1872

225

250

300

375

500

700

1250

5000

1873 (closed 3)

225

250

300

350

500

700

1250

6500

1913-1938 INDIAN HEAD BUFFALO NICKELS VG10

VF20

XF40

AU50

AU55

MS60

MS65

MS67

1913 (five cents in recess)

10

15

20

25

30

35

350

5000

1913-D (five cents in recess)

20

30

40

55

65

75

300

2750

1913-S (five cents in recess)

425

500

600

700

750

900

4500

25000

1873 (open 3)

225

250

300

350

525

825

1250

5000

1874

225

250

300

350

525

825

1250

5000

1875

225

275

325

400

625

1250

2750

-

20

25

35

40

45

55

525

7250

1876

225

250

300

350

525

825

1250

6500

1914/3

300

500

700

1250

2000

3000

-

-

1877

3000

3250

3500

3750

4250

5250

6250

12000

1914-D

150

200

250

300

400

500

1500

-

1878

1500

1600

1700

1800

1900

2000

2250

3000

1914-S

40

60

80

125

150

200

2000

-

1879

325

350

375

450

600

800

1250

2750

1915-D

35

50

100

150

200

250

1800

-

1880

300

325

425

475

550

700

950

2000

1915-S

80

200

375

525

575

675

3500

40000

1881

250

275

325

375

475

675

925

1750

1916

1882

200

250

300

350

450

675

925

1750

1916 (double die obverse)

1883

200

250

300

350

450

675

925

1750

1914

6

8

12

20

35

50

325

-

7000

12500

25000

30000

40000

85000

-

-

1916-D

30

30

90

100

125

175

2000

-

1916-S

20

40

75

125

150

200

2000

22000

1917

8

10

15

25

50

80

500

-

1917-D

40

60

100

200

300

400

2500

-

1917-S

40

100

125

250

400

500

5000

-

7

12

25

40

60

100

1200

45000

1918 1918-D 1918/7-D

1883-1912 LIBERTY HEAD NICKELS 1883 (with cents)

1918-S

VG10

VF20

XF40

AU50

MS60

MS65

MS66

MS67

35

55

80

125

175

675

1500

15000

1884

35

60

100

125

200

1750

3500

14000

1885

750

1000

1500

1750

2500

12000

20000

95000

1919

45

125

225

325

400

500

4250

2000

5000

9000

12000

22000

35000

265000

-

30

80

150

250

400

500

-

-

5

8

15

25

50

75

500

-

1919-D

30

100

250

350

450

650

6500

-

1919-S

30

100

250

375

450

625

15000

-

2.50

6

15

25

35

65

800

10000

1886

425

550

700

850

1250

7250

28000

-

1920

1887

25

40

75

100

150

1000

3500

-

1920-D

25

100

275

400

450

600

6250

-

1888

50

100

175

225

300

1250

7250

-

1920-S

20

100

225

300

450

600

-

-

1889

25

50

80

125

150

850

3500

9500

-

1890

20

40

75

100

175

1250

3750

-

1891

15

40

75

100

150

1250

2500

-

1892

15

40

75

100

150

1000

3500

-

1893

15

40

75

100

150

1000

3500

12500

1921

8

20

40

80

100

125

800

1921-S

100

300

700

1250

1500

1800

7500

-

1923

2.50

8

15

35

45

60

625

7750

1923-S 1924

15

100

275

325

425

625

10250

-

2.50

10

25

40

50

75

750

16000

1894

40

150

225

300

375

1500

2500

9500

1895

15

40

75

125

150

2250

5500

-

1924-D

20

100

225

325

400

525

5000

-

1896

25

60

100

150

200

2000

9750

-

1924-S

50

400

1250

1750

2000

2500

12000

70000

1897

6

25

50

65

100

875

3250

15000

2.50

8

20

25

35

45

400

10000

34 coinagemag.com

1925


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COINage-NovIssue.indd COINage-Dec COINage-Feb Issue.indd Issue.indd Issue.indd 57 35 37 61 COINage-Jan

9/19/2018 3:15:33 PM

10/16/2018 12/13/2018 9/19/2018 8:34:20 7:26:03 8:53:13 3:15:33 PM 11/19/2018


FEBRUARY 2019

COINage_Feb19_Layout 1 13-12-2018 18:13 Page 36

1913-1938 INDIAN HEAD BUFFALO NICKELS VF20

XF40

AU50

AU55

MS60

MS65

MS67

1925-D

30

100

150

250

300

400

5000

-

1900

1925-S

12

80

150

250

300

400

-

-

1926

G04

VG10

F15

VF20

XF40

AU50

MS60

4

7

10

12

25

60

125

MS65 650

1900-O

20

90

150

175

250

400

600

5000 1650

2.50

5

12

20

25

35

225

3250

1900-S

4

8

15

20

30

75

150

1926-D

20

100

200

250

300

400

4500

-

1901

4

7

10

12

30

60

125

700

1926-S

60

400

875

2500

3500

5000

100000

-

1901-O

4

12

20

30

75

200

500

4250

1901-S

4800

1927

THE COINAGE PRICE GUIDE

1892-1916 BARBER DIMES

VG10

2.50

5

12

20

25

35

275

6000

75

300

400

500

600

700

1000

1927-D

5

20

60

120

130

150

7000

-

1902

4

7

8

10

25

60

125

600

1927-S

5

35

100

200

325

625

20000

-

1902-O

4

12

25

40

75

150

400

4500

1928

2.50

5

15

20

25

35

325

7750

1902-S

8

45

80

125

150

200

400

3500

1928-D

2.50

12

45

50

55

60

725

18000

1903

4

7

8

10

30

60

125

1000

1928-S

2.50

12

30

100

175

225

3750

25000

1903-O

4

12

20

25

60

100

250

4500

1929

2.50

5

12

20

25

35

325

28000

1903-S

80

300

400

500

700

800

1250

2800

1929-D

2.50

5

35

45

50

65

1250

30000

1904

4

7

8

10

30

60

125

1300 4500

1929-S

5

12

35

45

55

65

325

-

1904-S

40

150

225

250

350

500

750

1930

2.50

5

10

20

25

30

225

-

1905

4

7

8

10

30

60

125

700

1930-S

2.50

5

12

30

45

60

425

-

1905-O (large O)

4

30

50

60

100

150

300

1500

1905-O (small o)

1931-S

18

20

35

50

60

65

325

32000

40

60

125

175

250

400

1800

12000

1934

2.50

5

12

18

25

45

300

4250

1905-S

4

8

15

20

50

100

200

1000

1934-D

2.50

10

20

25

50

60

225

4250

1906

4

5

6

8

25

60

100

650

1935

2.50

5

8

10

12

20

125

1750

1906-D

4

7

10

15

40

80

150

1500

1906-O

4

35

60

80

100

125

200

1200

1906-S

4

12

20

25

50

100

250

1250

1907

4

5

6

8

25

60

100

625

1907-D

4

8

10

12

50

100

300

2250

1907-O

4

20

40

50

70

100

200

1250

1907-S

4

12

20

30

70

150

400

2200

1908

4

5

6

8

25

60

100

650

1908-D

4

5

6

10

30

60

125

900

1908-O

4

35

60

75

100

150

300

1500

1908-S

4

8

15

25

50

150

300

1800

1909

4

5

6

8

25

60

100

600

1909-D

8

45

80

125

150

250

500

2500

1909-O

4

10

20

25

50

100

200

1600

1909-S

8

75

125

150

200

300

500

2500

1910

4

5

6

10

25

60

100

600

1910-D

4

8

12

25

50

100

200

1500

1910-S

4

35

60

75

125

225

400

2300

1911

4

5

6

8

25

60

100

850

1911-D

4

5

6

8

30

60

100

850

1911-S

4

8

12

20

40

100

200

1000

1912

4

5

6

8

25

60

100

650

1912-D

4

5

6

8

25

60

100

725

1912-S

4

5

10

15

40

100

150

850

1935 (double die reverse)

90

200

800

1500

2500

5000

-

-

1935-D

2.50

10

20

40

50

65

400

6000

1935-S

2.50

5

8

18

20

45

200

3750

1936

2.50

5

8

10

15

18

75

800

1936-D

2.50

5

6

12

18

25

125

-

1936-D (3 1/2 legs)

1600

4000

6500

-

-

-

-

-

1936-S

2.50

5

8

12

18

35

100

1500

1937

2.50

5

8

10

12

18

60

450

1937-D

2.50

5

8

12

18

25

60

725

1937-D (3 legs)

700

900

1000

1250

1500

2250

38000

130000

1937-S

2

3

8

12

18

30

65

1000

1938-D

4

5

6

8

12

20

55

175

1938-D (D over D)

6

10

12

18

20

30

90

800

1938-D (D over S)

6

10

20

30

35

55

150

875

1892-1916 BARBER DIMES 1892

G04

VG10

F15

VF20

XF40

AU50

MS60

MS65

8

12

20

25

30

60

120

600

1892-O

12

30

50

60

80

100

150

1250

1892-S

80

175

200

225

275

300

400

4000

8

15

25

30

50

75

175

1000

1893 1893/2

125

175

225

250

300

400

800

5500

1893-O

30

100

140

150

200

250

300

2500

1893-S

15

30

50

75

100

150

300

3000

1894

30

100

125

150

200

250

300

1200

1894-O

80

200

250

300

450

550

1600

-

1895

80

300

400

450

500

600

700

2250

1895-O

425

800

1300

1500

2800

4000

5500

23000

1895-S

40

125

175

200

250

300

500

6500

1896

12

50

70

80

100

125

175

1400

1896-O

80

250

350

400

500

600

1000

9000

1896-S

80

250

325

350

400

500

800

4000

4

7

12

15

30

60

150

600

1897-O

60

250

350

400

500

600

1000

4500

1897-S

20

80

125

150

200

250

500

3500

1897

1913

4

5

6

8

25

60

100

650

30

80

150

200

250

300

450

1400

1914

4

5

6

8

25

60

100

650

1914-D

4

5

6

8

25

60

100

650

1914-S

4

8

12

20

40

80

150

1200

1915

4

5

6

8

25

60

100

650

1915-S

8

30

45

50

75

150

250

1500

1916

4

5

6

8

25

60

100

650

1916-S

4

5

6

8

25

60

100

650

1913-S

1892-1915 BARBER DIMES PROOFS

4

6

12

15

30

60

150

600

PR62

PR63

PR64

PR65

PR66

PR67

PR68

1898-O

12

80

125

150

250

300

500

3250

1892

400

450

650

975

1500

2250

4500

-

1898-S

8

30

45

50

80

150

400

3500

1893

450

650

975

1500

2250

4500

10500

-

1899

4

7

12

15

25

60

125

600

1894

400

450

625

950

1500

2250

4250

10750

1898

1899-O

10

50

100

125

175

250

400

4250

1894-S

1899-S

8

20

35

40

50

100

300

2750

1895

36 coinagemag.com

PR61

365000 400

500000 1200000 1850000 475

675

975

2350000 2900000 1750

2000

-

-

4500

12000


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THE COINAGE PRICE GUIDE

FEBRUARY 2019

COINage_Feb19_Layout 1 13-12-2018 18:13 Page 38

1892-1915 BARBER DIMES PROOFS

1916-1945 MERCURY DIMES

PR61

PR62

PR63

PR64

PR65

PR66

PR67

PR68

G04

1896

400

450

650

950

1750

2000

4500

-

VG10

VF20

XF40

AU50

MS60

MS63

MS65

1928-S (small S)

3

4

6

20

40

150

300

1897

400

450

650

950

1500

2000

4250

500

12000

1929

3

4

6

8

10

20

30

1898

400

450

625

950

1500

2000

60

4250

12000

1929-D

3

4

8

12

20

30

35

80

1899

400

450

625

950

1500

1900

400

450

625

950

1500

2000

4500

12000

1929-S

3

4

6

8

20

30

45

125

2000

4250

10750

1930

3

4

6

8

15

30

45

1901

400

450

625

950

125

1500

2000

4500

-

1930-S

3

4

6

20

50

80

125

200

1902

400

450

625

1903

400

450

625

950

1500

2000

5000

15000

1931

3

4

6

15

25

40

70

130

950

1500

2000

4750

14000

1931-D

8

12

20

50

60

90

110

1904

400

450

275

625

950

1500

2000

4500

10750

1931-S

3

4

12

25

50

100

125

1905

400

275

450

625

950

1500

2000

4250

10500

1934

2

2.50

4

6

10

30

40

1906

60

400

450

625

950

1500

2250

4250

12000

1934-D

2

2.50

4

15

30

40

50

80

1907

400

450

625

950

1500

2250

4500

12000

1935

2

2.50

4

5

8

10

20

35

1908

400

450

625

950

1500

2000

4500

12000

1935-D

2

2.50

4

15

25

40

50

80

1909

400

450

625

975

1500

2000

4500

12000

1935-S

2

2.50

4

6

15

25

30

40

1910

400

450

625

950

1500

2000

4500

12500

1936

2

2.50

4

5

6

10

15

30

1936-D

2

2.50

4

8

15

30

35

50

1936-S

2

2.50

4

6

15

25

30

40

1937

2

2.50

4

5

6

8

15

25

1937-D

2

2.50

4

5

12

25

30

45

1937-S

2

2.50

4

5

12

25

30

40

1938

2

2.50

4

5

8

12

15

30

1938-D

2

2.50

4

5

12

15

20

30

1938-S

2

2.50

4

5

12

20

25

35

1939

2

2.50

4

5

6

10

15

30

1939-D

2

2.50

4

5

6

8

12

20

1939-S

2

2.50

4

5

15

25

30

45

1940

2

2.50

4

5

6

8

10

25

1940-D

2

2.50

4

5

6

8

12

30

1940-S

2

2.50

4

5

6

8

12

30

1941

2

2.50

4

5

6

8

12

25

1941-D

2

2.50

4

4.50

5

6

12

25

1941-S (large S)

4

6

15

25

30

110

-

-

1941-S (small S)

2

2.50

4

4.50

5

6

12

25

500

600

650

800

1250

3000

4500

-

2

2.50

4

4.50

5

6

12

25

1911

400

450

625

950

1500

2000

4500

12500

1912

400

450

625

950

1500

2000

5000

12000

1913

400

450

625

950

1500

2000

4750

10750

1914

400

450

625

975

1500

2000

5250

14000

1915

400

450

625

975

1750

2500

5500

-

1916-1945 MERCURY DIMES G04

VG10

VF20

XF40

AU50

MS60

MS63

MS65

3

4

8

12

25

30

45

100

1916-D

1000

2250

4500

6000

9000

-

-

-

1916-S

3

8

15

25

30

50

60

200

1917

3

4

6

8

15

50

60

150

1917-D

3

10

30

60

80

250

300

1000

1917-S

3

4

8

15

30

150

175

1918

3

4

12

40

50

80

1918-D

3

5

12

30

50

1918-S

3

4

12

25

1919

3

4

6

1919-D

3

12

1919-S

3

1920

1916

1942/1 1942 1942/1-D

500

600

650

800

1250

3000

5000

9000

1942-D

2

2.50

4

4.50

5

8

12

25

425

1942-S

2

2.50

4

4.50

5

8

15

25

100

425

1943

2

2.50

4

4.50

5

8

12

25

200

250

700

1943-D

2

2.50

4

4.50

5

8

12

25

40

200

250

750

1943-S

2

2.50

4

4.50

5

8

12

25

12

25

150

175

350

1944

2

2.50

4

4.50

5

8

12

25

30

50

80

350

425

1400

1944-D

2

2.50

4

4.50

5

8

12

20

10

20

40

80

400

450

1250

1944-S

2

2.50

4

4.50

5

8

12

25

3

4

6

8

15

60

70

250

1945

2

2.50

4

4.50

5

8

12

20

1920-D

3

4

10

25

50

300

325

600

1945-D

2

2.50

4

4.50

5

8

12

20

1920-S

3

5

10

20

40

250

300

1400

1945-S (large S)

2

2.50

4

4.50

5

8

12

20

1921

60

100

250

550

900

1200

1700

3500

1945-S (small S)

3

4

8

12

20

30

40

100

1921-D

3200

80

150

400

600

1000

1500

2100

1923

3

4

6

8

15

30

40

100

1923-S

3

6

20

80

100

175

350

1200

1924

3

4

6

15

30

40

75

180

1924-D

3

8

25

60

100

175

425

900

1924-S

3

4

12

60

100

200

450

1100

1925

3

4

6

10

15

30

80

200

1925-D

3

12

50

150

200

350

750

1800

1925-S

3

6

20

80

100

200

500

1500

1926

3

4

6

8

12

25

60

225

1926-D

3

4

12

30

50

125

275

600

1926-S

12

20

75

300

400

1000

1800

3000

1936

1927

3

4

6

8

12

30

50

150

1927-D

3

6

25

80

100

175

400

1400

1927-S

3

4

12

30

50

300

500

1928

3

4

6

8

15

30

1928-D

3

10

25

75

100

1928-S (large S)

4

6

12

40

80

38 coinagemag.com

1936-1942 MERCURY DIMES PROOFS PR60

PR61

PR63

PR64

PR65

PR66

PR67

PR68

-

500

600

750

1000

1500

2000

25000

1937

-

200

300

350

400

500

750

1750

1938

100

150

200

225

250

300

400

2000

1600

1939

-

-

150

175

200

250

400

1250

40

125

1940

-

-

-

-

150

200

400

2500

175

325

900

1941

-

100

125

150

175

200

250

3000

250

400

800

1942

-

-

100

125

150

200

250

1250


COINage_Feb19_Layout 1 13-12-2018 18:13 Page 39

FEBRUARY 2019

1838-1891 SEATED LIBERTY QUARTERS

1838-1891 SEATED LIBERTY QUARTERS VG10

F15

VF20

XF40

AU50

MS60

MS65

1838

30

45

75

100

375

650

1250

36500

1839

30

45

75

100

375

650

1250

38000

1840-O (without drapery)

40

60

100

125

425

700

1250

48500

1840 (with drapery)

30

40

75

100

225

350

800

14500

1840-O (with drapery)

35

80

150

200

350

525

1100

17500

1841

55

75

150

175

275

400

950

11000

1841-O

30

40

75

85

200

325

750

10000

1842-O (large date)

80

100

275

300

400

750

1750

14500

1843

500

1500

2250

2750

4500

9000

25000

-

1843-O

30

35

40

45

75

200

400

6750

1844

30

50

100

150

400

825

2250

-

1844-O

30

35

40

45

100

225

450

8250

1845

30

45

75

100

200

375

1250

8000

1846

30

35

40

45

100

200

500

6250

1847

30

35

45

50

200

275

525

10000

1847-O

30

35

40

45

80

200

500

6750

1848

35

80

150

200

500

1750

3750

-

1849

40

75

150

175

275

475

1000

-

1849-O

30

35

50

75

150

300

700

13500

550

1000

1750

2250

4000

5750

10000

-

1850-O

30

50

100

125

200

350

850

10500

1851

30

75

125

150

250

600

1500

15000

1851-O

35

100

150

200

275

400

1000

8000

200

450

750

1000

1750

3000

5750

-

40

70

100

175

275

400

750

6250

1853 (recut date)

200

400

1000

1250

2750

4250

12500

-

1853

1850

1852 1852-O

350

750

1100

1250

1750

2500

3750

11000

1853/4

30

35

40

50

150

325

900

17000

1853-O

40

80

150

200

400

1000

2000

45000

1854

30

50

75

85

300

1250

3000

25000

1854-O

25

30

35

40

75

250

475

9000

1854-O (large O)

30

35

50

60

125

275

900

10000

800

2000

3500

4250

7500

11500

-

-

1855-O

30

35

40

45

75

250

475

9000

1855-S

40

75

200

250

475

1250

3000

-

1856

45

80

175

225

550

1250

2500

30000

1856-O

30

35

40

45

80

175

275

4000

1856-S

25

30

50

60

100

300

925

9000

1856-S/S

60

250

300

350

1500

2250

5000

-

150

350

1000

1250

2500

3500

-

-

1857-O

30

35

40

45

75

200

300

4000

1857-S

30

35

40

45

125

400

1000

-

100

200

325

400

700

1250

3000

-

1858-O

25

30

40

45

75

150

300

4000

1858-S

30

35

50

60

150

400

1500

25000

1859

75

200

600

800

2750

3750

13500

-

1859-O

30

35

40

45

80

200

575

7250

1859-S

150

300

600

900

3250

9750

40000

-

30

35

45

50

85

200

450

4500 13000

1855

1857

1858

1860 1860-O

30

45

60

70

125

375

950

1860-S

450

1500

3000

4000

15000

25000

45000

-

25

30

40

45

80

200

300

3500

1861 1861-S

VG10

F15

VF20

XF40

AU50

MS60

MS65

300

600

1200

1400

1750

2500

3750

17500

1867

275

450

675

850

1300

1500

1900

-

1867-S

250

650

1000

1250

3000

7000

14000

-

1868

150

250

325

375

500

550

900

7250

1868-S

100

250

375

450

775

1500

3250

15000

1869

300

500

625

700

925

1000

1750

7500

1869-S

100

250

400

475

850

1500

2750

15500 6500

1870

55

100

175

200

300

400

850

8500

16500

20000

25000

40000

55000

75000

-

30

50

80

125

225

350

725

7500

1871-CC

3250

8750

12000

15500

26500

40000

66500

-

1871-S

400

675

1000

1100

1500

2750

4450

11500 7350

1870-CC 1871

1872

30

65

80

90

175

300

600

1872-CC

1250

2500

4500

6000

13000

20000

44500

-

1872-S

850

1750

2750

3250

5000

6750

8750

52500

1873 (closed 3)

250

500

675

800

1750

2750

7500

-

1873 (open 3)

35

50

125

135

175

250

450

5750 4000

1873 (with arrows)

25

30

40

60

200

425

725

3000

8000

13000

16500

26500

47500

93500

-

1873-S

30

60

125

175

325

525

1500

20000

1874

30

35

40

60

200

400

725

3500

1874-S

30

45

75

100

300

500

900

3500

1875

25

30

35

40

60

150

250

1750

1875-CC

100

225

350

450

825

1250

4000

30000

1875-S

40

60

75

80

175

250

600

3250

1876

25

30

35

40

60

150

250

1750

1876-CC

50

75

100

120

150

300

550

5500

1876-S

25

30

35

40

60

150

250

2250

1877

25

30

35

40

60

150

250

1750

1877-CC

50

70

90

100

150

250

450

2500

1877-S

25

30

35

40

60

150

250

1750

1877-S (S over horizontal S)

25

60

100

150

250

350

700

4250

1878

25

30

35

40

60

150

275

2750 3500

1873-CC (with arrows)

1878-CC

60

90

120

140

150

250

550

1878-S

150

300

400

450

800

1000

2000

-

1879

175

250

300

325

375

450

575

1750

1880

150

250

300

325

375

450

575

2000

1881

200

250

300

325

400

450

550

2250

1882

225

270

300

325

400

450

600

2250

1883

225

270

300

325

400

450

600

2500

1884

225

350

500

525

550

600

725

2250

1885

150

225

275

300

400

475

600

2750

1886

325

500

600

650

675

750

925

3250

1887

225

350

425

450

500

550

700

2500

1888

200

300

375

425

475

525

650

2000

25

30

35

40

60

150

400

4000

1889

200

300

325

350

425

475

600

1750

1890

60

75

125

150

200

300

450

1750

1891

25

30

35

40

60

150

250

1750

1891-O

175

450

650

750

1000

1250

4750

26500

1891-S

30

35

40

45

75

150

300

2250

1888-S

100

200

450

750

4000

9000

25000

-

1862

30

35

45

50

100

175

350

4350

1862-S

75

200

350

475

875

1500

3500

-

1863

45

60

100

150

250

375

650

4750

PR61

PR62

PR63

PR64

PR65

PR66

PR67

1864

80

125

200

225

350

450

775

5000

1858

1250

1500

1750

3000

8000

25000

58000

-

450

850

1750

2250

3500

4750

12500

-

1859

775

1000

1500

2500

5000

9500

25000

-

1864-S

1858-1891 SEATED LIBERTY QUARTERS PROOFS PR68

75

125

200

225

350

450

850

6750

1860

725

975

1500

2500

5000

9250

28000

55000

1865-S

100

200

300

400

800

1250

2750

12000

1861

700

975

1500

2500

5000

9500

28000

-

1866

450

700

1000

1100

1500

1700

2250

6750

1862

700

950

1500

2500

5000

9500

28000

-

1865

THE COINAGE PRICE GUIDE

G04

G04 1866-S

39


THE COINAGE PRICE GUIDE

FEBRUARY 2019

COINage_Feb19_Layout 1 13-12-2018 18:13 Page 40

1892-1916 BARBER QUARTERS

1858-1891 SEATED LIBERTY QUARTERS PROOFS G04

VG10

VF20

XF40

AU50

MS60

MS63

MS65

1900

12

18

40

75

150

275

475

1250

48000

1900-O

15

50

125

175

350

575

875

3750

25000

40000

1900-S

12

20

50

80

150

400

1100

5000

4250

7750

-

1901

30

45

75

90

125

200

475

1500

2500

4000

7000

-

1901-O

75

175

400

650

875

1000

2000

5500

1500

3250

15500

-

-

1901-S

5500

15000

28000

32250

40250

43500

50500

75000

1000

1500

3000

4750

8250

-

1902

7

15

30

75

125

200

475

1225

1000

1500

3000

4500

7250

-

1902-O

10

25

85

150

225

475

1300

4150

675

1000

1500

2750

3750

7500

-

1902-S

15

35

90

175

250

525

975

3525

675

1000

1500

2750

3750

7500

25000

1903

8

15

35

75

125

200

475

2150

475

675

1000

1500

2750

3750

7000

25000

1903-O

10

25

60

150

250

425

1150

4850

825

1000

1750

3500

8000

12000

35000

50000

1903-S

15

35

90

150

275

450

850

2400

1874

850

1000

1750

3500

8000

12000

28000

55000

1904

8

15

30

75

125

200

475

1225

1875

450

650

1000

1250

2250

3750

7000

15000

1904-O

30

50

150

225

450

825

1300

2625

1876

475

625

1000

1250

2250

3750

6750

-

1905

30

45

65

95

125

200

475

1425

1877

475

650

1000

1250

2250

3500

6500

-

1905-O

45

100

250

275

375

475

1300

7100

1878

475

625

1000

1250

2250

3500

6750

-

1905-S

35

65

105

125

200

350

1000

3650

1879

475

625

1000

1250

2250

3500

7500

-

1906

8

15

35

75

125

200

475

1150

1880

475

625

1000

1250

2250

3250

6000

18000

1906-D

8

15

40

75

150

225

475

1650

1881

475

625

1000

1250

2250

3250

6000

18000

1906-O

10

25

60

100

200

325

550

1225

1882

475

650

1000

1250

2250

3250

6000

18000

1907

7

12

35

75

125

200

475

1225

1883

475

625

1000

1250

2250

3250

6000

18000

1907-D

8

15

50

100

175

250

750

2625

1884

475

625

1000

1250

2250

3250

6000

18000

1907-O

10

18

40

75

125

200

475

2025

1885

475

625

1000

1250

2250

3250

5750

15000

1907-S

12

25

70

125

275

475

1000

5275

1886

475

625

1000

1250

2250

3250

6000

18000

1908

8

15

30

75

125

200

450

1225

1887

475

625

1000

1250

2250

3250

5750

18000

1908-D

7

12

35

75

125

250

475

1225

1888

475

625

1000

1250

2250

3250

6000

18000

1908-O

8

15

40

75

125

200

475

1225

1889

475

625

1000

1250

2250

3250

5750

18000

1908-S

25

75

150

300

500

750

1300

4425

1890

475

625

1000

1250

2250

3250

5750

18000

1909

8

15

30

75

125

200

475

1125

1891

475

625

1000

1250

2250

3250

5750

18000

1909-D

8

15

40

80

150

200

475

1225

1909-O

50

250

525

700

1000

1500

2325

8500

1909-S

7

12

50

100

200

300

675

2200

1910

7

20

35

75

125

200

450

1225

1910-D

8

25

70

125

250

350

925

1800

1911

7

15

35

75

125

200

475

1225

1911-D

30

100

325

500

700

950

1200

6000

1911-S

12

30

100

175

275

400

725

1500

7

15

35

50

125

220

475

1250

1912-S

18

40

85

125

225

400

1000

1750

1913

25

50

200

375

525

925

1125

4500

PR61

PR62

PR63

PR64

PR65

PR66

PR67

PR68

1863

700

925

1500

2500

5000

9500

28000

-

1864

725

950

1500

2500

5000

9500

22000

1865

700

950

1500

2500

5000

10000

1866

500

700

1000

1500

2750

1867

525

700

1000

1500

1868

500

700

1000

1869

525

700

1870

500

675

1871

475

1872

475

1873 (closed 3) 1873 (with arrows)

1912

1892-1916 BARBER QUARTERS G04

VG10

VF20

XF40

AU50

MS60

MS63

MS65

1913-D

12

20

55

100

200

275

475

1250

1892

12

15

45

75

125

200

475

1250

1913-S

1800

4000

8500

11250

14000

15000

20000

31500

1892-O

15

35

65

100

175

325

475

1500

1914

8

15

30

75

125

200

475

1250

1892-S

40

75

150

200

325

450

925

4500

1914-D

8

15

30

75

125

200

475

1100

1893

10

15

40

75

125

225

475

1500

1914-S

125

350

650

950

1100

1425

1500

3500

1893-O

12

20

60

125

175

275

475

2000

1915

8

15

35

75

125

200

475

1250

1893-S

20

50

125

200

350

450

1000

7000

1915-D

8

15

35

75

125

200

475

1250

1894

12

20

50

100

150

250

475

1250

1915-S

30

55

100

100

200

300

500

1250

1894-O

12

35

75

150

225

350

675

2000

1916

8

15

30

75

125

200

475

1250

1894-S

12

20

75

125

200

325

750

2500

1916-D

8

15

30

75

125

200

475

1250

1895

12

20

40

80

125

225

475

1800

1895-O

12

35

80

150

225

425

950

2500

1895-S

20

60

150

200

275

425

1000

3500

1896

12

20

50

100

150

250

500

1250

1896-O

65

150

375

650

950

1200

1850

7000

1896-S

850

2250

4000

5500

7500

10500

17500

50000

1897

12

15

35

75

125

225

475

1500

1897-O

45

125

400

450

625

850

1850

3500

1897-S

125

250

475

650

950

1425

2000

6500

1898

12

15

35

75

125

200

475

1500

1898-O

15

60

150

300

450

650

1675

9000

PR61

PR63

PR64

PR65

PR66

PR67

PR68

PR69

1898-S

12

30

75

100

225

425

1550

7000

1892

475

875

1250

2000

3000

5000

14000

40000

1899

12

15

35

75

125

200

475

1250

1893

475

875

1250

2000

3000

5000

15000

35000

1899-O

15

30

75

150

300

425

775

3000

1894

475

875

1250

2000

3000

5750

15000

40000

1899-S

25

65

100

150

275

425

1550

4000

1895

465

925

1250

2000

3000

5500

15000

-

40 coinagemag.com

1892-1915 BARBER QUARTERS PROOFS


COINage_Feb19_Layout 1 13-12-2018 18:13 Page 41

FEBRUARY 2019

1892-1915 BARBER QUARTERS PROOFS PR63

PR64

PR65

PR66

PR67

PR68

PR69

475

925

1250

2000

3250

5500

14000

32000

1897

475

875

1250

2000

3000

5250

14000

-

1898

475

900

1250

2000

3000

5250

12000

32000

1899

475

875

1250

2000

3000

5000

12000

-

1900

475

875

1250

2000

3000

5250

15000

-

1901

475

875

1250

2000

3000

5500

12000

-

1902

475

875

1250

2000

3000

5500

14000

-

1903

475

875

1250

2000

3000

5000

12000

-

1904

475

875

1250

2000

3000

5000

12000

40000

1905

475

875

1250

2000

3000

5000

15000

-

1839-1891 SEATED LIBERTY HALF DOLLARS G04

VG10

VF20

XF40

AU50

MS60

MS65

MS67

1839

40

65

175

300

450

1250

18500

-

1840 (small letters)

45

75

150

300

375

900

10000

-

200

350

650

1400

1750

4500

25000

-

50

60

150

325

450

900

-

-

1840 (medium letters)

1906

475

875

1250

2000

3000

5000

14000

-

1840-O

1907

475

875

1250

2000

3000

5000

14000

-

1841

50

75

200

350

450

1500

18000

1908

475

875

1250

2000

3000

5000

14000

30000

1841-O

40

65

150

325

450

1250

28000

-

1909

475

875

1250

2000

3000

5250

14000

-

1842 (medium date)

30

55

100

150

300

800

8000

-

1910

475

875

1250

2000

3000

5000

14000

-

1842-O (small date)

800

1250

2500

4750

7500

18000

-

-

1911

475

875

1250

2000

3000

5000

14000

-

1842-O (medium date)

30

50

75

225

375

1250

25000

40000

1912

475

875

1250

2000

3000

5250

15000

60000

1843

30

50

65

175

250

650

15000

45000

1913

475

875

1250

2250

3000

5750

14000

30000

1843-O

30

50

75

225

350

825

22000

-

1914

475

900

1250

2500

3000

5500

14000

-

1844

30

50

75

175

275

650

5000

-

1915

475

900

1250

2500

5000

10000

20000

-

1844-O

30

60

100

250

300

950

-

-

1844-O (double date)

500

1000

1750

3500

8000

-

-

-

1845

40

75

175

300

475

1000

-

-

1845-O

40

55

125

275

375

825

9750

-

1845-O (missing drapery)

50

90

200

600

800

-

-

-

1846 (medium date)

30

55

85

200

300

700

12500

-

1846 (large date)

40

60

150

400

500

800

-

-

1846-O (medium date)

1916-1930 STANDING LIBERTY QUARTERS

30

50

80

200

300

1250

-

-

1846-O (large date)

250

450

900

2000

2750

8500

-

-

1846 (over horizontal 6)

150

275

500

800

1500

6000

-

-

30

50

75

175

250

700

8500

30000

G04

VG10

VF20

XF40

AU50

MS60

MS63

MS65

1847

3000

6500

9500

10000

11750

14000

20250

27250

1847-O

30

50

80

250

350

850

18000

-

1917 (no stars below eagle)

30

60

100

125

200

250

300

800

1847/6

2500

4000

8000

12000

-

-

-

-

1917-D (no stars below eagle)

30

80

125

200

250

325

400

1200

1848

50

80

200

350

525

1000

9000

-

1917-S (no stars below eagle)

30

80

150

250

300

375

450

1400

1848-O

35

60

100

300

375

975

15000

-

1917 (stars below eagle)

30

45

70

100

150

200

325

700

1849

40

60

100

225

475

925

-

-

1917-D (stars below eagle)

35

50

125

175

225

275

450

1500

1849-O

1917-S (stars below eagle)

35

45

125

175

200

375

450

1300

1850

1918

20

25

30

40

80

125

250

800

1918-D

30

45

80

150

200

300

450

1700

1918-S

20

25

30

60

100

275

300

1250

1919

35

45

75

85

125

175

300

650

1919-D

75

100

425

650

800

1000

1700

3400

1919-S

75

100

275

500

575

725

1500

4000

1916

40

60

100

275

475

1000

22500

-

225

375

700

850

1000

2000

25000

-

30

55

100

200

300

800

14000

-

350

500

1000

1500

1750

3250

14000

-

40

75

200

300

400

1000

15000

-

500

750

1000

1250

1500

2500

9500

32000

1852-O

75

200

675

1000

1750

3750

30000

-

1853

40

55

125

300

575

1500

25000

95000

1850-O 1851 1851-O 1852

1920

15

25

40

50

90

150

300

600

1920-D

50

70

125

175

225

350

800

2000

1853-O

50

75

175

400

825

3000

50000

-

1920-S

15

30

35

60

150

250

700

2300

1854

40

60

80

175

325

675

8750

55000

1921

175

300

675

850

1150

1725

2200

3500

1854-O

40

60

100

200

350

725

9250

55000

1923

15

20

40

50

100

150

275

600

1855

40

55

85

200

350

700

12000

-

250

400

1000

1600

2100

2750

3000

4600

1855/4

80

150

300

500

600

2000

-

-

1923-S 1924

15

25

35

50

100

200

275

650

1855-O

40

55

90

175

350

700

8750

50000

1924-D

50

70

125

200

250

300

375

650

1855-S

500

700

2250

4500

7250

25000

65000

150000

1924-S

-

25

35

60

125

225

300

1150

2000

1856

30

55

75

150

250

575

6500

1925

7

8

20

45

80

150

300

600

1856-O

30

55

85

175

275

575

7750

-

1926

8

8

12

40

80

150

275

600

1856-S

65

150

525

1000

2000

5250

-

-

1926-D

7

10

50

100

125

175

250

500

1857

30

55

75

150

225

525

5500

-

1926-S

7

10

20

100

225

350

900

2000

1857-O

40

60

100

250

325

1250

18000

-

1927

7

9

12

40

80

125

250

500

1857-S

75

150

500

1250

2000

5500

50000

-

1927-D

12

20

80

150

200

275

350

600

1858

25

50

80

150

225

550

5750

-

1927-S

30

80

325

975

2750

4500

7000

11250

7

10

12

30

80

150

250

500

1858-O

35

60

90

175

225

550

9500

-

1858-S

45

75

175

375

500

1500

20000

-

1859

40

55

80

175

275

550

5500

30000 45000

1928 1928-D

7

10

12

30

80

150

250

525

1928-S

7

10

12

30

80

150

250

500

1929

7

10

12

30

80

150

250

500

1859-O

30

55

85

150

250

550

7500

1929-D

7

10

12

30

80

150

250

500

1859-S

40

75

150

300

400

1250

16000

75000

1929-S

7

10

12

30

80

150

250

500

1860

35

55

85

175

300

675

7250

60000

1930

7

10

12

30

80

150

250

500

1860-O

30

50

100

200

275

575

5750

-

1930-S

7

8

12

35

80

150

250

500

1860-S

40

70

125

250

375

1500

-

-

THE COINAGE PRICE GUIDE

PR61 1896

41


THE COINAGE PRICE GUIDE

FEBRUARY 2019

COINage_Feb19_Layout 1 13-12-2018 18:13 Page 42

1839-1891 SEATED LIBERTY HALF DOLLARS G04

VG10

VF20

XF40

AU50

MS60

MS65

MS67

1861

25

50

75

175

250

550

5250

30000

1861-O

35

55

100

200

325

600

6250

-

1861-S

40

65

125

275

400

1250

14000

-

1862

50

70

150

250

425

700

7000

40000

1862-S

40

65

100

275

350

750

12500

-

1863

45

70

100

275

350

800

7000

30000

PR60

PR61

PR63

PR64

PR65

PR66

PR67

PR68

1863-S

40

60

100

225

300

725

18000

-

1858

1000

1250

2250

4750

8750

22000

40000

-

1864

45

75

300

400

575

1000

10000

45000

1859

725

825

1750

4000

7250

16000

30000

-

1864-S

45

100

225

400

625

1250

16000

85000

1860

700

800

1750

3500

7000

12500

35000

-

1865

50

80

200

375

525

1000

9000

35000

1861

675

800

2000

3500

7000

12500

35000

-

1865-S

45

75

200

400

650

1500

95000

-

1862

675

800

2000

3500

7000

12750

25000

-

525

850

1500

2500

4000

8500

88000

200000

1863

675

775

1750

3500

7000

15000

25000

50000

1866 (with motto)

30

55

100

250

300

675

7000

35000

1864

675

750

2000

3500

7000

14000

-

-

1866-S (with motto)

35

55

100

250

375

775

12500

-

1865

675

750

2000

3500

7000

18000

35000

-

1867

40

75

175

300

350

900

10000

32500

1866 (with motto)

650

725

1500

2250

4500

7500

14000

28000

1867-S

35

55

100

250

325

1250

14000

-

1867

650

725

1500

2250

4500

8500

14500

-

1868

50

100

200

325

525

975

6750

-

1868

650

725

1500

2250

4750

7000

14250

50000

1868-S

35

55

100

225

300

650

10500

-

1869

675

750

1500

2250

4250

5750

14000

28500

1869

30

50

75

175

275

575

8000

-

1870

650

725

1500

2000

4750

6250

22000

-

1869-S

35

55

100

250

400

1250

6500

25000

1871

650

725

1500

2250

4500

6250

12500

30000

1866-S (without motto)

1858-1891 SEATED LIBERTY HALF DOLLARS PROOFS

30

55

100

200

250

650

6750

22000

1872

675

750

1500

2250

4500

7000

-

-

1750

3500

7000

15000

30000

95000

-

-

1873 (closed 3)

650

725

1500

2250

4500

8000

15000

-

1870-S

35

60

150

375

475

1000

20000

-

1873 (with arrows)

1000

1250

2750

4250

12000

32500

52500

-

1871

30

50

75

150

225

625

5750

-

1874

1000

1250

2500

4500

12000

28000

40000

-

575

675

1500

2000

4000

5750

14000

28000

1870 1870-CC

1871-CC

475

775

1500

3500

5750

20000

-

-

1875

1871-S

30

50

75

150

300

700

8000

-

1876

575

700

1500

2000

4000

7500

15000

-

1872

30

50

75

175

275

600

6500

-

1877

575

700

1500

2250

4250

9000

-

-

1872-CC

225

350

1250

2500

4750

25000

-

-

1878

575

675

1500

2000

3750

5500

14000

35000

1872-S

35

65

175

375

450

1500

25000

38000

1879

600

700

1500

2000

3750

5500

12500

38000

1873 (closed 3)

40

65

125

225

325

775

7500

-

1880

575

675

1500

2250

3750

5500

25000

-

1881

575

675

1500

2000

3750

5500

12000

-

1882

575

700

1500

2250

3750

5500

12000

18000

1883

575

675

1500

2000

3750

5500

12000

30000

1884

575

675

1500

2000

3750

5500

12500

42500

1885

575

700

1500

2000

3750

5500

15000

32500

1886

575

675

1500

2000

4000

5500

14000

28000

1887

575

675

1500

2000

4000

5500

14500

-

1888

575

675

1500

2000

3750

5500

12750

28000

1889

575

700

1500

2000

3750

5500

14500

-

1890

575

675

1500

2000

4000

5500

12250

28000

1891

575

675

1500

2000

3750

5500

12250

-

1873 (open 3) 1873-CC 1873 (with arrows) 1873-CC (with arrows)

3250

4500

6750

9500

12500

28000

-

-

400

625

1750

3000

5000

12000

78000

125000

40

65

125

275

450

975

18000

-

350

450

1250

2500

3750

8500

55000

-

1873-S (with arrows)

75

150

275

575

950

2750

52500

-

1874

40

75

125

275

450

975

18000

70000

1874-CC

1250

2000

3250

5500

7750

17250

95000

-

1874-S

50

75

250

475

775

2000

25000

-

1875

30

50

75

125

200

450

4750

18000

1875-CC

65

125

250

400

600

1750

10000

-

1875-S

30

50

75

150

225

425

4500

25000

1876

30

50

75

125

200

450

4500

16500

1876-CC

70

125

225

325

525

1250

7000

32000

1876-S

30

50

75

150

225

475

4500

-

1877

30

50

75

125

200

425

4500

15000

1877-CC

50

95

150

275

525

1000

6250

32000

1877-S

20

35

75

150

225

500

4500

15000

1878

35

55

90

150

250

525

5000

-

1878-CC

1000

1750

3000

4000

6500

12000

72500

-

1878-S

35000

45000

65000

87500

92500

115000

300000

-

1879

400

475

550

725

750

950

4500

18000

1880

350

425

550

725

750

1000

4500

16500

1892

1881

400

475

550

650

700

900

4500

18000

1892-O

1882

450

525

700

900

925

1000

4750

16500

1892 (micro o)

1883

375

525

675

800

850

1000

4500

22500

1892-S

1884

475

600

650

775

825

1000

4500

20000

1893

1885

500

625

675

800

825

975

5250

20000

1893-O

1886

525

625

700

825

875

1000

4500

20000

1893-S

1887

575

675

750

975

1000

1250

5000

18000

1888

400

475

600

750

775

925

4250

1889

375

450

575

725

750

1000

4250

1890

375

475

550

700

800

1000

4500

1891

50

100

150

200

300

600

4500

42 coinagemag.com

1892-1915 BARBER HALF DOLLARS G04

VG10

VF20

XF40

AU50

MS60

MS65

MS67

30

50

125

225

375

525

3250

18500 28000

300

450

625

725

775

1250

5500

5500

10000

14000

18000

20000

28000

100000

-

225

400

600

750

825

1250

5250

25000

25

50

150

275

375

575

4500

22000

35

100

250

400

475

700

8500

-

175

300

775

1000

1500

2250

22500

-

1894

35

75

225

300

375

575

3750

38000

15500

1894-O

25

50

225

375

475

725

6500

40000

-

1894-S

25

50

150

300

425

725

9250

35000

22500

1895

25

50

175

275

400

650

4000

25000

40000

1895-O

30

75

225

350

500

800

7500

48000


COINage_Feb19_Layout 1 13-12-2018 18:13 Page 43

FEBRUARY 2019

1892-1915 BARBER HALF DOLLARS VG10

VF20

XF40

AU50

MS60

MS65

MS67

1895-S

35

100

275

375

450

725

7750

48000

1896

25

50

175

325

425

700

5000

30000

1896-O

50

125

500

1250

1500

4000

25000

75000

1896-S

125

225

475

1000

1250

2250

10000

58000

25

50

125

250

400

575

3500

30000

150

275

875

1250

1500

2500

9500

45000

1897 1897-O 1897-S 1898

150

250

650

1000

1250

2500

8250

38000

20

35

125

250

400

625

3750

58000

1892-1915 BARBER HALF DOLLARS PROOFS PR60

PR61

PR63

PR64

PR65

PR66

PR67

PR68

1892

600

675

1250

2000

3750

5250

8750

16000

1893

600

675

1250

2000

3750

5250

8750

22500

1894

600

675

1250

2000

3750

5250

9000

23000

1895

600

675

1250

2000

3750

5250

9000

20000

1896

600

675

1250

2000

3750

5250

9500

20000

1897

600

675

1250

2000

3750

5250

9500

18500

1898

600

675

1250

2000

3750

5250

8750

18000

1899

600

675

1250

2000

3750

5250

9000

20000

1898-O

40

125

500

750

900

1250

9000

50000

1898-S

30

75

175

450

475

1250

12000

-

1899

18

30

125

225

375

575

3750

32000

1899-O

25

50

175

325

450

750

8000

32000

1899-S

25

50

150

300

425

800

6250

18000

1900

18

25

100

225

375

525

3750

28000

1900

600

675

1250

2000

3750

5250

9000

18000

1900-O

25

50

175

375

525

975

15000

-

1901

600

675

1250

2000

3750

5000

8750

18000

1900-S

20

35

125

225

375

700

8750

32500

1902

600

675

1250

2000

3750

5000

8750

20000

1901

15

30

100

225

375

600

4250

28000

1903

600

675

1250

2000

3500

5000

8750

16000

1901-O

25

50

250

525

725

1500

15000

-

1904

600

675

1250

2000

3500

5000

8750

20000

1901-S

40

125

450

1000

1500

2750

18000

42000

1905

600

675

1250

2000

3500

5000

8750

20000

1902

15

30

100

225

375

600

4000

25000

1906

600

675

1250

2000

3500

5000

8750

20000

1902-O

20

50

150

375

450

875

9500

30000

1907

600

675

1250

2000

3500

5000

8750

20000

1902-S

20

50

200

425

525

975

8750

28000

1908

600

675

1250

2000

3500

5000

8750

16000

1903

18

30

100

225

375

625

9000

-

1909

600

675

1250

2000

3500

5000

8750

16000

1903-O

20

40

175

350

425

775

8000

42000

1910

600

675

1250

2000

3500

5000

9250

20500

1911

600

675

1250

2000

3750

5000

9500

18000

1912

600

675

1250

2000

3750

5250

9500

20000

1913

600

675

1250

2000

3750

5250

8750

16000

1914

600

700

1250

2000

4250

6250

10000

22000

1915

500

600

1250

2250

4500

6500

10000

22000

1903-S

20

40

150

300

450

900

5750

25000

1904

15

30

100

225

375

600

5000

-

1904-O

25

50

325

550

675

1500

14000

-

1904-S

50

200

1250

3250

5250

12000

50000

160000

1905

25

50

200

300

425

675

6000

20000

1905-O

30

75

250

425

500

900

4750

25000

1905-S

20

50

175

350

400

725

8500

25000

1906

18

30

100

225

375

550

3250

18000

1906-D

18

30

100

225

375

575

3500

28000

1906-O

20

40

125

225

400

650

6250

30000

1906-S

18

40

150

275

425

650

5250

20000

1907

15

25

100

225

375

525

3250

-

1907-D

18

30

100

225

375

575

3250

20000

1907-O

18

30

100

250

375

600

3250

25000

1907-S

30

50

225

650

925

1750

12250

32000

1908

15

25

100

200

375

525

3500

18000

1916

1908-D

18

30

100

225

375

550

3250

15000

1908-O

18

30

100

225

400

575

3250

18000

1908-S

30

50

175

425

525

1000

6000

18500

1909

15

30

100

200

375

525

3250

1909-O

20

50

200

450

700

1250

1909-S

18

30

125

300

450

1910

25

50

225

375

500

1910-S 1911 1911-D

20 15 18

40 25 30

125 100 125

250 200 225

425 375 375

1916-1947 WALKING LIBERTY HALF DOLLARS VG10

VF20

XF40

AU50

MS60

MS63

MS65

MS67

75

150

250

300

400

625

2250

20000

1916-D

75

150

250

300

400

750

2500

17500

1916-S

175

500

700

875

1500

2500

7000

45000

1917

20

25

60

90

150

225

1250

18750

-

1917-D (obverse mint mark)

50

175

275

400

700

1500

8250

-

5250

25000

1917-D (reverse mint mark)

25

125

200

350

1000

2500

15000

55000

750

4250

15000

1917-S (obverse mint mark)

75

400

600

1000

2500

5000

22500

150000

775

3750

-

1917-S (reverse mint mark)

20

40

85

200

575

2000

14500

45000

1918

20

60

175

275

575

1250

4000

-

1918-D

25

125

300

550

1500

3250

25000

-

1918-S

20

45

100

225

600

2000

18000

-

1919

50

300

600

925

1750

3750

8500

35000

1919-D

50

400

1000

2000

6250

15000

150000

-

1919-S

40

300

1000

1500

3000

9000

-

-

1920

20

30

100

150

400

700

4500

-

1920-D

35

225

400

750

2750

5250

15000

-

1920-S

25

125

225

500

1000

3000

17750

-

1921

175

750

1500

2750

4000

7000

17750

-

825 525 575

6500 3250 3250

20000 18000 18000

1911-S

20

40

125

250

425

725

5500

22500

1912

15

30

100

200

375

525

3500

-

1912-D

15

30

100

225

375

550

3250

-

1912-S

18

30

125

300

400

725

4500

18000

1913

75

125

500

850

1000

1500

5500

-

1913-D

20

40

125

300

400

625

4500

-

1913-S

35

60

150

350

475

900

4500

40000

1921-D

200

1000

2500

4000

5500

10500

40000

-

150

325

625

950

1250

2250

9750

-

1921-S

125

1000

2750

7000

10000

17250

100000

-

1914 1914-S

20

40

125

275

400

775

4500

-

1923-S

25

100

500

800

1750

3500

-

-

100

175

400

675

900

1500

7000

-

1927-S

20

50

200

400

1250

2000

8500

-

1915-D

18

30

100

200

375

525

3250

15000

1928-S

20

80

200

400

1250

2500

9750

-

1915-S

20

30

125

225

400

575

3250

18000

1929-D

15

40

100

200

400

700

3250

-

1915

THE COINAGE PRICE GUIDE

G04

43


THE COINAGE PRICE GUIDE

FEBRUARY 2019

COINage_Feb19_Layout 1 13-12-2018 18:13 Page 44

1916-1947 WALKING LIBERTY HALF DOLLARS VG10

VF20

XF40

AU50

MS60

MS63

MS65

MS67

1929-S

15

30

100

200

500

1000

3250

-

1933-S

15

25

80

250

600

1100

3750

-

1934

15

20

25

30

60

100

525

-

1934-D

15

20

30

80

175

225

1500

-

1934-S

15

20

30

80

300

800

3600

-

1935

15

20

25

30

50

75

325

1795-1803 DRAPED BUST DOLLARS G04

VG10

VF20

XF40

AU50

AU55

MS63

MS65

2000

4000

6000

10000

15000

25000

150000

400000

1796 (small date, small letters) 2500

3000

6000

12000

15000

25000

-

-

1796 (large date, small letters) 2500

3000

6000

12000

15000

25000

-

-

1795

1935-D

15

20

30

60

150

300

2250

-

1935-S

15

20

30

100

250

400

2750

-

1936

15

20

25

30

60

75

250

-

1796 (small date, large letters) 2500

3000

6000

12000

15000

25000

-

-

1936-D

15

20

25

40

80

110

575

-

1797 (9x7, small letters)

1750

3000

10000

20000

35000

55000

-

-

1936-S

15

20

25

50

150

225

1250

-

1797 (9x7, large letters)

1750

2500

6000

12500

17500

30000

-

-

1937

15

20

25

30

50

75

250

-

1797 (10x6)

1750

2500

6000

12500

17500

25000

275000

-

1937-D

15

20

30

80

150

275

800

-

1798 (13 stars, small eagle)

1750

2500

6000

15000

35000

50000

-

-

1937-S

15

20

25

60

125

200

700

-

1798 (15 stars, small eagle)

2000

3000

7500

15000

35000

50000

-

-

1798 (lg eagle, knobbed 9)

1000

1250

3000

5000

8500

12500

-

-

1798 (lg eagle, knob 9, 10 arr) 1000

1250

3000

5000

8500

12500

-

-

1798 (lg eagle, point 9, arr)

1000

1250

3000

5000

8500

12500

-

-

1798 (lg eagle, point 9, berries) 1000

1250

3000

5000

8500

12500

-

-

1799/8 (13 stars on back)

1000

1250

3000

4500

7500

12500

-

-

1938 1938-D

15 75

20 125

25 150

40 200

80 500

150 600

450 1500

-

1939

15

20

25

30

40

75

175

-

1939-D

15

20

25

30

40

75

175

-

1939-S

15

20

25

50

150

200

350

-

1799/8 (15 stars on back)

1000

1250

3000

4500

7500

12500

-

-

1940

-

15

18

20

40

50

175

-

1799 (odd date, 13 stars on back)1000

1250

3000

5000

7500

10000

-

-

1940-S

-

15

18

20

40

75

350

-

1799 (odd date, 15 stars on back)1000

1250

3000

5000

7500

10000

-

-

1941

-

15

18

20

40

50

150

-

1799 (normal date)

1000

1250

3000

5000

7500

10000

-

-

875

1250

2500

4500

8250

12000

-

-

1941-D

-

15

18

20

40

70

150

-

1800

1941-S

-

-

15

25

80

150

900

-

1800 (wide date)

875

1250

2500

4500

8250

12000

-

-

1942

-

15

18

20

35

50

150

-

1800 AMERICAI (back)

875

1250

2500

4500

8250

12000

-

-

1800 AMERICAI (back, wide date) 875

1250

2500

4500

8250

12000

-

-

1800 (12 arrows)

875

1250

2500

4500

8250

12000

-

-

1800 (dotted date)

1000

1750

2800

4750

-

-

-

-

1801

875

1250

2500

4750

8250

15000

-

-

1942-D

-

15

18

20

35

75

250

-

1942-S

-

15

18

20

35

75

450

-

1943

-

15

18

20

35

50

150

-

1943-D

-

15

18

20

40

70

225

-

1802 (closed)

875

1250

2500

4750

7750

15000

-

-

1943-S

-

15

18

20

35

70

300

-

1802 (wide)

925

1500

2750

4750

9500

15000

-

-

1944

-

15

18

20

35

50

150

-

1802/1 (narrow date)

975

1500

2500

4750

8750

15000

-

-

1944-D

-

15

18

20

35

50

150

-

1802/1 (wide date)

975

1500

2750

5500

10750

15000

-

-

1944-S

-

15

18

20

35

70

450

-

1803 (large 3)

975

1500

2750

4750

8750

12000

-

-

1803 (small 3)

975

1500

2750

4750

8750

12000

-

-

1945

-

15

18

20

35

50

140

-

1945-D

-

15

18

20

35

50

140

-

1945-S

-

15

18

20

35

50

140

-

1946

-

15

18

20

35

50

140

-

1946-D

-

-

15

25

35

70

140

-

1946-S

-

15

18

20

35

70

140

-

1947

-

15

18

20

35

75

175

-

1947-D

-

15

18

20

35

50

150

-

1840-1873 SEATED LIBERTY DOLLARS

1936-1942 WALKING LIBERTY HALF DOLLARS PROOFS 1936

PR60

PR61

PR63

PR64

PR65

PR66

PR67

PR68

1000

1750

2500

2750

3500

5000

15000

90000

G04

VG10

F15

VF20

XF40

AU50

MS60

MS63

1840

300

375

425

450

725

1250

4250

8750

1841

275

325

375

425

675

975

2500

5000

1842

175

300

350

400

575

925

2250

5000

1843

175

300

350

400

575

925

2500

5000

1844

175

300

350

400

775

1500

4750

9500

1845

275

350

400

425

775

1750

8750

17500

1846

250

325

375

425

625

1000

2500

5000

1846-O

250

325

400

425

775

1500

7000

14500

1847

250

325

375

425

575

975

2750

5000

1848

325

425

550

675

1000

1750

4500

9000

1849

250

325

375

425

675

1000

2500

5000

1850

425

625

850

1000

1750

2750

6750

13500

1937

425

450

650

775

950

1250

2000

18000

1938

400

425

525

650

825

1000

1500

12000

1939

350

375

475

600

750

825

1250

6750

300

400

550

725

1500

3250

13000

25000

1940

300

325

450

550

625

725

1000

4500

1851

4750

8500

12500

15000

20000

27250

40000

80000

1941

250

300

425

475

625

700

1000

6500

1852

4250

7000

10000

12500

17000

26750

40000

75000

1942

250

300

425

500

625

700

1000

5250

1853

300

400

525

625

1000

1500

3250

6250

44 coinagemag.com

1850-O


COINage_Feb19_Layout 1 13-12-2018 18:13 Page 45

1840-1873 SEATED LIBERTY DOLLARS PROOFS

G04

VG10

F15

VF20

XF40

AU50

MS60

MS63

1854

975

2000

2500

2750

3750

5250

8750

17500

1855

975

1500

2000

2250

3750

4750

7250

14500

1856

375

475

600

725

1500

3250

4750

9500

1857 1859

350 275

475 375

600 475

725 500

1500 725

2750 1500

4250 2750

8750 7250

PR60

PR61

PR62

PR63

PR64

PR65

PR66

PR67

1866

2250

2500

3000

4000

6750

15000

25750

48000

1867

2250

2500

3000

4000

6500

15000

28000

48000

1868

2250

2500

3250

4000

7000

15000

27500

45000

1869

2250

2750

3000

4000

6750

15500

28500

48000

2000

2500

3000

4250

6500

15500

30000

50000

250

300

375

425

575

925

2250

5000

1859-S

325

475

675

825

1750

3250

12250

27250

1871

2000

2500

3250

4250

6750

15000

26750

48250

1860

225

350

450

500

625

925

2250

5000

1872

2250

2500

3250

4250

7000

14500

28000

50000

1860-O

275

300

375

425

575

875

2000

3750

1873

2250

2500

3250

4250

7000

15000

30000

-

1861

650

925

1000

1250

1500

3750

4750

7250

1862

550

850

1000

1250

1500

4250

5250

7250

1863

725

850

1000

1250

1500

2000

3250

6750

1864

375

450

550

675

1000

1750

3250

8250

1865

350

425

550

625

1500

2250

3750

9500

1866

225

350

450

525

825

1250

2250

5250

1867

225

325

450

500

825

1250

2500

5750

1868

225

350

450

525

825

1250

2250

5250

1869

225

350

450

525

825

1250

2250

5250

1870

225

300

375

425

575

1000

2000

4500

1870-CC

675

1000

1750

2250

4000

7750

25000

40000

1871

250

300

375

425

575

1000

2000

4500

MS67

1873-1878 TRADE DOLLARS VG10

VF20

XF40

AU50

MS60

MS63

MS65

1873

150

225

325

400

1000

3000

10000

-

2500

3750

5500

7000

15000

25000

75000

175000

250

300

350

400

575

1000

2250

4750

1873-CC

375

800

1000

1500

5000

25000

-

-

1872-CC

1500

3500

4500

4750

8250

14500

27250

95000

1873-S

150

200

250

400

1000

4000

22250

-

1872-S

375

550

775

925

2000

3250

12000

35000

1874

150

200

300

400

1000

2750

18000

-

1873

325

375

400

425

575

1000

2250

4750

1874-CC

300

525

775

900

3250

7250

42000

-

4750

8250

15000

18000

27250

40000

112000

175000

1874-S

150

200

300

375

1000

2750

20000

-

1875

375

475

850

1000

2500

6250

25000

70000

1875-CC

325

500

650

875

2500

5250

40000

-

1875-S

150

200

300

350

1000

2500

12250

72500

1875-S/CC

375

600

1000

1750

4250

20000

75000

-

1876

150

200

300

350

1000

2500

12000

75000

1876-CC

400

625

800

1500

7500

25000

82500

-

1876-S

150

200

300

350

1000

2500

15000

-

1877

150

200

300

375

1000

2500

22250

-

1877-CC

400

675

1000

1250

3250

12000

85000

68000

1872

1873-CC

1840-1873 SEATED LIBERTY DOLLARS PROOFS 1840

THE COINAGE PRICE GUIDE

1859-O

1870

1871-CC

FEBRUARY 2019

1840-1873 SEATED LIBERTY DOLLARS

PR60

PR61

PR62

PR63

PR64

PR65

PR66

PR67

12000

13750

22000

30000

47500

75000

-

-

1877-S

150

200

275

375

1000

2500

14000

1841

-

-

-

70000

95000

175500

-

-

1878 -CC

700

2000

4250

5750

18000

36250

150000

-

1842

18500

22500

30000

55000

65000

90000

-

-

1878-S

150

200

275

375

1000

2500

15000

68000

1843

-

25000

32500

47500

65000

-

-

-

1844

-

-

-

-

90000

150000

200000

-

1845

14000

17500

30000

37500

47500

75000

135000

200000

1846

12500

15000

20000

30000

47500

150000

175000

-

1847

13750

18000

20000

25000

35000

65000

-

-

1848

13750

18000

22500

32000

42500

70000

115000

150000

1849

18500

22500

25000

40000

50000

90000

125000

175000

1850

13500

14500

20000

30000

35000

67500

80000

-

1851 restrike

22500

25000

28000

35000

48000

70000

140000

-

1852

30000

32000

38000

42500

50000

80000

-

-

1852 restrike

28000

30000

35000

40000

55000

90000

-

-

1853

25000

32500

40000

52500

70000

130000

-

-

1873-1883 TRADE DOLLARS PROOFS PR60

PR61

PR63

PR64

PR65

PR66

PR67

PR68

1873

2000

2250

3750

5750

15000

35000

-

-

1854

12500

14000

16500

20000

25000

55000

65000

-

1855

10000

12000

13000

18000

25000

50000

62500

-

1874

1750

2250

3500

4750

12500

25000

38000

1856

6250

7750

9000

12750

22000

40000

-

-

1875

1750

2250

3500

4750

12750

22500

38000

-

1857

5000

6750

7750

12250

17500

35000

52500

-

1876

1750

2250

3500

4750

12000

20000

-

-

1858

10250

10500

12500

16000

25000

42500

52500

-

1877

1750

2250

3500

5250

12000

18500

32000

-

1859

2750

3000

3500

5000

7500

20000

37250

65000

1878

2000

2250

3500

5000

12000

20000

30000

-

1860

2500

2750

3500

4750

7000

15500

32250

65000

1879

2000

2250

3500

4750

10000

14000

28000

45000

1861

2500

2750

3500

5250

7000

16500

35000

78000

1862

2500

2750

3250

4750

7250

16750

32500

65000

1880

2000

2250

3500

4750

10000

14000

28000

48000

1863

2250

2500

3500

5000

7000

18000

32000

62500

1881

2000

2250

3500

4750

10000

14000

28000

48000

1864

2500

3000

3750

5250

7500

18000

32750

57500

1882

2000

2250

3500

4750

10000

14000

32000

48000

1865

2250

3000

3500

5000

7250

17250

27500

55000

1883

2000

2250

3500

4750

10000

14000

30000

48000

45


THE COINAGE PRICE GUIDE

FEBRUARY 2019

COINage_Feb19_Layout 1 13-12-2018 18:13 Page 46

1878-1921 MORGAN DOLLARS

1878-1921 MORGAN DOLLARS

VG10

VF20

XF40

AU50

AU55

MS60

MS63

MS65

1891

35

-

40

45

60

70

210

9400

1891-O

35

-

40

45

100

195

375

9650

1891-S

35

-

40

45

65

70

155

1975

1891-CC

100

110

145

210

300

425

775

5625

1892

45

50

55

95

150

325

550

5950

VG10

VF20

XF40

AU50

AU55

MS60

MS63

MS65

1892-O

35

-

40

75

150

325

450

8500

1878 (8 feathers)

45

50

55

75

100

150

300

1800

1892-S

40

145

335

1850

13000

46500

69000

215000

1878 (7 feathers)

45

50

55

60

70

80

125

125

1892-CC

200

310

515

775

1100

1500

2200

9750

1878 (7/8 feathers)

45

50

55

80

100

125

300

3000

1893

240

250

300

435

550

800

1300

9600

1893-O

210

360

550

950

1500

3600

7250

200000

1893-S

3225

6175

9000

24000

50000

110000

215000

775000

1893-CC

275

715

1500

2725

3500

4975

7150

73000

1375

1675

1800

1975

2500

4125

5950

44500 71000

1878-S

25

30

40

45

50

60

80

400

1878-CC

100

125

150

175

225

300

500

1750

1879

25

30

40

45

50

60

80

800

1879-O

25

30

40

50

70

100

225

4000

1894-O

50

55

100

285

500

1150

4225

1879-S

25

30

40

50

55

60

100

400

1894-S

60

105

155

500

750

950

1275

7350

1879-S (reverse of 1878)

25

30

40

80

125

200

600

6000

1895-O

360

475

565

1250

7500

16000

58000

160000

1879-CC

160

300

800

2250

3000

4000

8000

-

1895-S

550

950

1400

1975

3000

4425

6825

28750

1879-CC/CC

160

300

600

2000

2500

4000

7500

-

1896

-

40

-

45

50

55

75

275

1880

25

30

35

40

45

55

75

800

1896-O

-

40

50

165

800

1800

9000

175000

1880-O

25

30

35

40

45

75

450

31750

1896-S

45

60

235

875

1000

1975

4050

19750

1897

35

-

40

45

50

55

70

375

1897-O

35

40

50

105

600

950

4800

72500

1897-S

35

-

40

45

50

80

150

675

1898

35

-

40

-

45

55

75

275

1898-O

35

-

40

-

45

50

70

200

1898-S

45

50

55

110

200

270

515

2700 1250

1880-S

25

30

35

40

45

55

70

200

1880-CC (80/79, flat breast)

650

725

825

875

925

975

1500

4000

1880-CC (8/7)

600

675

775

825

875

925

1000

2800

35

-

40

-

45

55

85

800

-

-

40

-

45

55

80

1550

1881 1881-O

1894

1881-S

35

-

40

-

45

55

75

200

1899

175

200

225

250

275

300

325

1881-CC

385

415

435

450

475

535

685

950

1899-O

35

40

-

-

45

50

80

200

35

-

40

-

45

55

80

625

1899-S

45

50

60

155

250

450

535

2425

1900

35

-

40

-

45

55

75

200

1900-O

35

-

40

-

45

55

75

200

1900-O/CC

45

60

100

185

200

310

835

1825

1900-S

45

50

55

85

250

350

425

1900

1901

45

55

110

375

1000

2625

18000

525000

1882 1882-O 1882-O/S

35

-

40

-

45

55

80

1725

675

750

850

900

950

1000

1750

-

1882-S

35

-

40

-

45

55

80

200

1882-CC

105

110

125

155

175

220

310

525

1883

35

-

-

40

45

50

75

275

1883-O

35

-

-

40

45

50

70

225

1901-O

-

-

-

40

45

50

80

200

1901-S

-

40

50

210

350

550

885

3400 535

1883-S

35

40

55

100

130

715

2875

56000

1902

-

40

-

45

55

65

135

1883-CC

105

108

125

130

155

220

265

625

1902-O

-

-

40

-

45

50

70

200

35

-

-

40

45

50

85

375

1902-S

105

155

210

300

350

415

675

3225

1903

350

1884 1884-O

-

-

-

40

45

50

80

200

-

50

55

60

65

70

100

1884-S

35

40

50

300

300

9100

38000

265000

1903-O

335

385

400

415

425

475

500

665

1884-CC

150

160

165

190

200

220

265

525

1903-S

100

215

400

1850

3000

4250

6775

12250

35

-

-

40

45

50

80

200

1904

35

40

-

45

50

100

275

2925

-

-

40

-

45

50

70

200

1904-O

-

-

40

45

50

55

70

200

1904-S

45

85

215

600

1000

1725

5025

12000

1921

30

35

40

-

45

50

65

200

1921-D

30

35

40

-

45

50

80

425

1921-S

30

35

40

-

45

50

1000

1750

1885 1885-O 1885-S

35

50

65

105

115

265

365

2000

1885-CC

625

660

665

670

675

835

935

1250

1886

30

-

1886-O

40

45

1886-S

60

90

1887

35

-

1887-O

35

1887-S 1888

35

40

45

50

70

175

50

80

500

1000

3475

185000

125

155

250

365

585

3500

-

40

45

50

70

175

-

40

45

60

70

250

2500

35

-

40

45

80

145

450

2500

35

-

-

40

45

50

70

250

1888-O

-

-

-

40

45

55

75

650

1888-S

3500

130

205

210

350

450

575

975

1889

35

-

40

45

50

55

70

400

1889-O

35

-

40

45

125

200

600

8000

1878-1904 MORGAN DOLLARS PROOFS PR60

PR61

PR62

PR63

1878 (8 feathers)

2500

2750

3000

3250

1878 (7 feathers)

2500

2750

3000

3250

1889-S

55

70

85

120

225

285

500

2200

1889-CC

715

1400

3400

7450

13000

26500

48250

350000

1890

35

-

-

40

45

55

75

2750

1879

2000

2250

2500

2750

1890-O

35

-

40

55

60

80

115

2925

1880

2000

2250

2500

2750

1890-S

35

-

40

45

55

70

100

1400

1881

2000

2250

2500

2750

1890-CC

100

110

145

215

350

485

900

5800

1882

2000

2250

2500

2750

46 coinagemag.com


COINage_Feb19_Layout 1 13-12-2018 18:13 Page 47

FEBRUARY 2019

1878-1904 MORGAN DOLLARS PROOFS PR60

PR61

PR62

PR63

1883

2000

2250

2500

2750

1884

2000

2250

2500

2750

1885

2000

2250

2500

2750

1886

2000

2250

2500

2750

1887

3000

3250

3500

3750

PR60

PR61

PR62

PR63

PR64

PR65

1888

2000

2250

2500

2750

1921 (satin)

45000

50000

55000

60000

65000

70000

1889

2000

2250

2500

2750

1921 (matte)

45000

50000

55000

60000

65000

70000

1890

2000

2250

2500

2750

1922 (matte)

95000

100000

105000

110000

115000

120000

1891

2000

2250

2500

2750

1892

2000

2250

2500

2750

1893

2000

2250

2500

2750

1921-1922 PEACE DOLLARS PROOFS

2500

2750

3000

3250

1895

35000

40000

45000

50000

1896

2000

2250

2500

2750

1897

2000

2250

2500

2750

1898

2000

2250

2500

2750

1899

2000

2250

2500

2750

G04

VG10

F15

VF20

XF40

AU50

MS60

MS63

1900

2000

2250

2500

2750

1854

200

275

325

350

500

600

2000

7500

1901

2250

2500

2750

3000

1855

200

275

325

350

500

600

2000

7500

1902

2000

2250

2500

2750

1855-C

700

1000

1500

1750

3750

8250

25000

110000

1903

2000

2250

2500

2750

1855-D

2500

4000

5000

5500

12000

20000

50000

90000

2750

1855-O

400

475

525

550

950

1500

8000

25000

1856-S

400

700

900

925

1500

2250

7500

30000

1856 (upright 5)

175

225

250

275

300

375

725

2250

1856 (slanted 5)

175

200

225

250

275

300

550

1000

2000

2750

3250

3500

5500

7750

25000

80000

1857

175

200

225

250

275

300

550

1000

1857-C

500

800

1000

1250

1500

2750

12000

30000

1857-D

500

800

1000

1500

2250

3500

10000

25000

1857-S

300

375

425

450

725

1250

5750

18000

1858

175

200

225

250

275

300

550

975

1858-D

500

800

1000

1500

2250

3500

8500

18000

1858-S

225

300

350

375

650

1250

5750

15000

1859

175

200

225

250

275

300

550

1000

1904

2000

2250

2500

1854-1889 INDIAN HEAD GOLD DOLLARS

1856-D

1921-1935 PEACE DOLLARS VG10

VF20

XF40

AU50

MS60

MS63

MS64

MS65

1921

75

100

125

150

200

450

1000

2000

1922

-

-

-

30

60

110

125

150

1859-C

500

800

1000

1250

2000

3250

12000

30000

1922-D

-

-

-

30

40

75

125

500

1859-D

500

800

1250

1500

2250

3250

8000

18000

1922-S

-

30

30

40

60

100

200

2000

1859-S

150

225

275

300

550

1250

5250

15000

1923

-

-

30

75

-

100

125

150

1860

175

200

225

250

275

300

550

1250

1923-D

-

-

-

40

125

200

350

1000

1860-D

900

2000

2500

2750

4000

7250

18000

45000

1923-S

-

-

-

40

60

75

400

2500

1860-S

200

275

325

350

475

750

2250

5500

1861

175

200

225

250

275

300

550

975

8000

12000

18000

20000

30000

40000

60000

100000

1862

175

200

225

250

275

300

550

975

1863

500

800

1000

1250

2000

3250

5500

9250

1864

325

400

450

475

825

1250

1750

3750

1865

250

400

500

550

875

1000

2000

3750

1866

175

250

300

400

475

725

1250

2000

1867

200

275

400

450

500

675

1250

2000

1868

125

200

250

275

425

500

975

2000

1869

200

275

325

350

450

675

1000

2250

1870

175

250

300

325

450

650

975

2000

1870-S

275

350

400

475

800

1250

2750

6500

1924

-

-

-

-

-

50

60

125

1924-S

-

-

30

40

250

500

1000

6000

1925

-

-

-

40

-

50

75

125

1925-S

-

30

40

50

150

300

500

13000

1926

-

30

-

40

50

100

125

500

1926-D 1926-S

-

-

30

40 50

125 60

250 150

400 250

1000

1861-D

1000

1927

-

-

-

50

100

200

500

2250

1927-D

-

-

50

100

250

500

1500

4000

1927-S

-

-

100

125

250

500

1250

8500

225

-

-

250

400

600

1000

4500

1928-S

-

40

50

60

200

400

1000

15000

1871

175

250

300

325

450

550

875

1750

1934

-

-

-

60

75

200

400

750

1872

175

250

300

325

450

550

975

2250

1934-D

-

40

-

50

125

400

500

1250

1873 (closed 3)

275

350

400

425

725

1000

1500

4250

1934-S

40

100

150

300

1250

6000

7000

10000

1873 (open 3)

175

200

225

250

275

300

500

825

1935

-

-

40

50

75

125

250

750

1874

175

200

225

250

275

300

500

825

1935-S

-

40

50

100

250

400

600

1250

1875

800

2000

2500

2750

4250

5250

8000

12000

1928

THE COINAGE PRICE GUIDE

1894

47


THE COINAGE PRICE GUIDE

FEBRUARY 2019

COINage_Feb19_Layout 1 13-12-2018 18:13 Page 48

1854-1889 INDIAN HEAD GOLD DOLLARS G04

VG10

F15

VF20

XF40

AU50

MS60

MS63

1876

175

250

300

325

375

475

725

1250

1877

175

250

300

325

375

475

725

1250

1878

175

250

300

325

375

475

725

1250

1879

150

200

225

250

400

425

700

1250

1880

150

200

225

250

400

425

850

1500

1881

150

200

225

250

400

425

600

900

1882

150

200

225

250

400

425

600

950

1795-1812 CAPPED BUST HALF EAGLES GOLD 1795 (small eagle)

G04

VG10

F15

VF20

XF40

AU50

MS60

MS63

9000

15000

20000

22250

30000

40000

65000

170000

1795 (heraldic eagle)

8000

12000

18000

20000

30000

50000

85000

165000

1796/5

9000

15000

20000

25000

40000

60000

100000

215000

1797 (small eagle, 15 stars)

15000

22250

32500

40000

60000

90000

240000

-

1797 (small eagle, 16 stars)

10000

18000

30000

40000

50000

75000

215000

-

1883

150

200

225

250

400

425

525

900

1884

150

200

225

250

400

425

550

900

1885

150

200

225

250

400

425

525

900

1797/5 (heraldic eagle)

8000

12000

20000

25000

45000

70000

185000

-

1887

150

200

225

250

400

425

525

800

1798 (small 8)

1000

4000

6000

7000

12000

18000

35000

75000

700

1798 (lg 8, 13 stars on back)

2000

3750

5000

5500

8500

15000

50000

-

1798 (lg 8, 14 stars on back)

2000

3750

5000

6500

12000

25000

110000

-

1799

2000

3500

4500

5250

7250

12000

25000

60000

1800

2000

3500

4500

5250

6500

8000

15000

30000

1802/1

2000

3500

4500

5250

6500

8000

15000

30000

1803/2

2000

3500

4500

5250

6500

8000

15000

30000

1804 (small 8)

2000

3500

4500

5250

6500

8000

18000

30000

1804 (large 8)

2000

3500

4500

5250

6500

8000

18000

30000

1805

2000

3500

4500

5250

6500

8000

15000

30000

1806 (pointed 6)

2000

3500

4500

5250

6500

8000

15000

30000

1888

150

1889

150

200 200

225 225

250 250

400 400

425 425

525 525

675

1795-1812 CAPPED BUST HALF EAGLES GOLD

1796-1808 CAPPED BUST QUARTER EAGLES GOLD G04

VG10

F15

VF20

XF40

AU50

AU55

G04

VG10

F15

VF20

XF40

AU50

MS60

MS63

1806 (rounded 6)

2000

3500

4500

5250

6500

8000

15000

30000

MS60

1796 (no stars on obverse)

20000

35000

50000

60000

85000

110000

150000

225000

1807

2000

3500

4500

5250

6500

8000

15000

30000

1796 (with stars on obverse)

15000

25000

40000

45000

65000

90000

125000

180000

1807 (bust to left)

1750

2500

3500

4250

5250

8250

12750

25000

1797

9000

15000

20000

25000

40000

70000

100000

145000

1808

1750

2500

3500

4250

5250

8250

12750

25000

1798

3500

6500

8750

9750

15000

30000

45000

65000

1808/7

1750

2500

4000

5000

6000

8500

15000

30000

15000

50000

100000

140000

180000

275000

-

-

1809/8

1750

2500

3500

4250

5250

8250

12750

25000

1810 (small date, small 5)

9000

15000

30000

40000

50000

80000

170000

-

1810 (small date, large 5)

1750

2500

3500

4250

5250

8250

15000

25000

1804 (13 stars on reverse) 1804 (14 stars on reverse)

3000

4500

7500

8500

12500

15000

20000

30000

1805

3000

4500

7500

8500

12500

15000

20000

30000

1810 (large date, small 5)

15000

25000

35000

40000

70000

85000

165000

-

1806/4

3000

4500

7500

8500

12500

15000

20000

30000

1810 (large date, large 5)

1750

2500

3500

4250

5250

8250

12750

25000

1806/5

7000

10000

13500

15000

18000

40000

60000

90000

1811 (small 5)

1750

2500

3500

4250

5250

8250

12750

25000

30000

1811 (large 5)

1750

2500

3500

4250

5250

8250

12750

25000

1812

1750

2500

3500

4250

5250

8250

12750

25000

1807 1808

3000 3000

4500 4500

7500 7500

8500 8500

12500 12500

15000 15000

20000 20000

30000

1813-1834 CAPPED HEAD HALF EAGLES GOLD 1813 1814/3

1821-1834 CAPPED HEAD QUARTER EAGLES GOLD

G04

VG10

VF20

XF40

AU50

AU55

MS60

MS63

1000

4000

5500

6750

9000

10000

12000

20000

1000

4000

6000

7250

9500

15000

20000

50000

1815

20000

75000

120000

165000

185000

275000

370000

540000

1818

1000

4000

6000

7250

10000

15000

20000

50000

1818 STATESOF (one word)

1000

4000

6000

7250

10000

15000

20000

45000

1818 (5D over 50)

1000

4000

6000

7250

10500

15000

25000

50000

1819

9000

15000

30000

45000

60000

75000

90000

-

18000

25000

32500

45000

60000

75000

90000

140000

1820 (curved base, sm letters) 1000

4000

6750

10500

12750

15000

18000

40000

1820 (curved base, lg letters)

1000

4000

6500

8000

10000

15000

20000

40000

7750

9000

12000

18000

30000 215000

1819 (5D over 50)

G04

VG10

F15

VF20

XF40

AU50

AU55

MS60

1821

2000

5000

7500

8500

12750

15000

20000

30000

1824/1

2000

5000

7500

8500

12750

15000

20000

30000

1820 (square base, lg letters)

1000

4000

6500

1826/5

5000

8000

10500

11500

15000

25000

45000

65000

1821

8000

12000

30000

50000

60000

100000

145000

1827

2000

5000

7500

8500

12750

15000

20000

30000

1823

4000

7000

9250

14500

15000

20000

25000

50000

1829

1000

4000

6500

7250

8750

12000

15000

20000

1824

8000

12000

20000

30000

40000

50000

70000

125000

1830

1000

4000

6500

7250

8750

12000

15000

20000

1825/1

8000

12000

20000

30000

40000

50000

70000

125000

1826

5000

8000

14000

18000

25000

30000

40000

70000

1827

10000

16000

20000

30000

35000

45000

60000

90000

15000

30000

60000

100000

125000

175000

250000

430000

9000

15000

30000

70000

90000

125000

180000

335000

1831

1000

4000

6500

7250

8750

12000

15000

20000

1832

1000

4000

6500

7250

8750

12000

15000

20000

1828/7

1834

3000

6000

12000

14000

18000

30000

50000

70000

1829 (large date)

48 coinagemag.com


COINage_Feb19_Layout 1 13-12-2018 18:13 Page 49

1829 (small date)

1907-1933 INDIAN HEAD EAGLES GOLD

G04

VG10

VF20

XF40

AU50

AU55

MS60

MS63

15000

30000

70000

140000

165000

200000

275000

460000

9000

15000

25000

35000

40000

50000

60000

90000

1830 (large 5D)

9000

15000

25000

35000

40000

50000

60000

90000

1831 (small 5D)

9000

15000

25000

35000

40000

50000

60000

90000

1831 (large 5D)

9000

15000

25000

35000

40000

50000

60000

90000

160000

220000

275000

375000

525000

-

-

-

1833 (large date)

9000

15000

25000

35000

40000

50000

60000

90000

1833 (small date)

9000

15000

25000

35000

40000

60000

90000

145000

1834 (plain 4)

9000

15000

25000

35000

40000

50000

60000

90000

1834 (crosslet 4)

10000

18000

27500

37500

45000

65000

90000

120000

G04

VG10

F15

VF20

XF40

AU50

MS60

1910-D

750

825

875

900

950

975

1000

MS63 1500

1910-S

800

825

875

900

950

1000

1500

10000

1911

750

825

875

900

950

975

1000

1500

1911-D

900

950

1000

1250

2000

2500

10000

40000

1911-S

800

850

900

950

1000

1250

3000

12750

1912

750

825

875

900

950

975

1000

1500

1912-S

750

825

875

900

1000

1250

2000

10000

1913

750

825

875

900

950

975

1000

1500

1913-S

800

850

900

1000

1250

1500

7500

35000

1914

750

825

875

900

950

975

1000

2500

1914-D

750

825

875

900

950

975

1000

2500

1914-S

800

900

950

1000

1100

1250

2000

8500

1915

750

825

875

900

950

975

1000

2000

1915-S

850

900

950

1000

1250

1500

5000

20000

1916-S

800

825

850

900

1000

1250

2000

8000

1920-S

6000

9000

12000

15000

20000

30000

85000

125000

1926 1930-S

750

825

875

900

950

975

1000

1500

6000

9000

10000

12500

15000

25000

40000

50000

1932

750

825

875

900

950

975

1000

1500

1933

25000

40000

50000

60000

100000

150000

200000

325000

THE COINAGE PRICE GUIDE

1830 (small 5D)

1832

FEBRUARY 2019

1813-1834 CAPPED HEAD HALF EAGLES GOLD

1795-1804 CAPPED BUST EAGLES GOLD G04

VG10

VF20

XF40

AU50

AU55

MS60

MS63

1795 (13 leaves below eagle) 20000

25000

35000

50000

60000

80000

100000

325000

1795 (9 leaves below eagle)

-

-

-

75000

150000

175000

300000

-

1796

-

-

40000

55000

60000

80000

125000

500000

1797 (small eagle)

-

-

50000

75000

125000

150000

250000

600000

1797 (heraldic eagle)

-

-

15000

25000

32500

40000

60000

200000

1798 (9 stars left, 4 stars right)

-

15000

25000

42500

50000

85000

150000

425000

1798 (7 stars left, 6 stars right)

-

-

45000

100000

175000

225000

400000

-

1799 (small stars obverse)

-

7500

12500

17500

20000

22500

30000

75000

1908

1799 (large stars obverse)

-

7500

12500

17500

20000

22500

30000

75000

1795-1804 CAPPED BUST EAGLES GOLD G04

VG10

VF20

XF40

AU50

AU55

MS60

MS63

1800

-

7500

12500

15000

20000

25000

32500

85000

1801

-

7500

12500

17500

20000

22500

32500

65000

1803 (small stars reverse)

-

7500

12500

17500

20000

22500

30000

75000

1803 (large stars reverse)

-

7500

12500

17500

20000

25000

32500

75000

1804

-

-

30000

45000

50000

75000

100000

250000

1908-1915 INDIAN HEAD EAGLES GOLD PROOFS PR60

PR61

PR62

PR63

8000

10000

12000

15000

1909

8000

10000

12000

15000

1910

10000

12000

15000

18000

1911

8000

10000

12000

15000

1912

8000

10000

12000

15000

1913

8000

10000

12000

15000

1914

8000

10000

12000

15000

1915

10000

12000

15000

18000

1907-1932 SAINT GAUDENS DOUBLE EAGLES GOLD

1907-1933 INDIAN HEAD EAGLES GOLD G04 1907 (wire edge, w/ periods)

8000

1907 (rolled edge, w/ periods) 20000

VG10 12000

F15 15000

VF20 18000

XF40 20000

AU50 25000

MS60 32500

MS63 50000

VF20

XF40

AU50

MS60

MS63

MS65

MS67

MS68

1907 (high relief)

9250

11250

12500

17500

25000

62500

18000

38500

1907 (roman #'s, wire rim)

9500

10000

12000

15000

20000

-

-

-

1907 (roman #'s, flat rim)

9500

10000

12000

15000

20000

-

-

-

1907 (arabic #'s)

-

-

-

-

2000

-

-

-

1908 (no motto)

-

1650

1700

1750

2000

2500

15000

30000

1908-D (no motto)

-

1650

1700

1750

2000

10500

-

-

1908 (with motto)

-

1650

1700

1750

2500

17000

100000

-

1908-D (with motto)

-

1650

1700

1750

2250

6000

110000

-

3000

3750

5500

12000

26250

55000

185000

-

-

1650

1700

1750

3000

45000

-

-

35000

45000

50000

55000

60000

100000

125000

1907 (no periods)

800

875

925

950

975

1000

1250

3750

1908 (no motto)

800

875

925

950

975

1000

1250

5000

1908-D (no motto)

800

875

925

950

975

1000

1500

8000

1908 (with motto)

775

800

825

850

875

900

1000

1500

1908-D (with motto)

775

800

900

925

950

1000

1250

7500

1909/8

1700

1875

1900

2500

5250

47250

-

1908-S (with motto)

750

850

900

1000

1250

1500

4000

12750

1909-D

-

1650

1825

3250

7500

46000

300000

-

1909

750

825

875

900

950

1000

1250

4000

1909-S

-

1650

1700

1750

2250

6500

66000

-

1909-D

775

850

900

950

1000

1250

1500

6500

1910

-

1650

1700

1750

2000

9500

-

-

1909-S

750

825

875

900

950

1000

2000

7500

1910-D

-

1650

1700

1750

2000

4000

82000

-

1910

750

825

875

900

950

975

1000

1500

1910-S

-

1650

1700

1750

2000

9500

67500

175000

1908-S 1909

49


THE COINAGE PRICE GUIDE

FEBRUARY 2019

COINage_Feb19_Layout 1 13-12-2018 18:13 Page 50

1907-1932 SAINT GAUDENS DOUBLE EAGLES GOLD VF20

XF40

AU50

MS60

MS63

MS65

MS67

1911

-

1650

1700

1750

2500

22500

185000

-

1911-D

-

1650

1700

1750

2000

2750

58000

-

1911-S

-

1650

1700

1750

2000

5750

100000

-

1912

-

1650

1700

1750

2500

28000

-

-

1913

-

1650

1700

1750

2750

55000

-

-

1913-D 1913-S

1650

1750

1650 2000

1750 2250

2000 5000

6500 40000

MS68

-

1988-2016 GOLD EAGLES $5 PROOFS PR66

PR67

PR68

PR69

PR70

1988-P

125

135

150

185

325

1989-P

125

135

150

185

325

1990-P

125

135

150

185

275

1991-P

125

135

150

185

275

1992-P

125

135

150

185

275

1993-P

125

135

150

185

250

1994-W

125

135

150

185

250

1995-W

125

135

150

185

250

-

-

-

1914

-

1650

1700

1750

3500

25000

-

-

1914-D

-

1650

1700

1750

2000

3500

42500

-

1914-S

-

1650

1700

1750

2000

2750

58000

-

1915

-

1650

1700

1750

2500

30000

-

-

1915-S

-

1650

1700

1750

1875

3250

37500

-

1916-S

-

1650

1700

1750

2000

3750

35000

-

1920

-

1650

1700

1750

2250

85000

-

-

1996-W

125

135

150

185

250

1920-S

15000

22500

31000

52000

110000

300000

-

-

1997-W

125

135

150

185

250

1921

30000

45000

58000

115000

200000

690000

-

-

1998-W

125

135

150

185

300

1922

-

1650

1700

1750

2000

4750

-

-

1999-W

125

135

150

185

250

1750

2000

2250

2500

5250

50000

-

-

2000-W

125

135

150

185

250

1923

-

1650

1700

1750

1800

4750

-

-

2001-W

125

135

150

185

400

1923-D

-

1650

1700

1750

1875

2500

16000

-

2002-W

125

135

150

185

250

1924

-

1650

1700

1750

1850

2500

15000

95000

2003-W

125

135

150

185

300

1924-D

1750

2500

2750

5250

8750

92500

-

-

2004-W

125

135

150

185

225

1924-S

2250

2500

2750

4750

12500

215000

815000

-

2005-W

125

135

150

185

225

-

1650

1700

1750

1850

2500

35000

-

2006-W

125

135

150

185

225

1925-D

2500

3000

3750

5500

14000

110000

-

-

2007-W

125

135

150

185

250

1925-S

2750

3500

5000

10500

18000

175000

375000

650000

2008-W

125

135

150

185

300

-

2010-W

125

135

150

185

250

2011-W

125

135

150

185

250

2012-W

125

135

150

185

250

2014-W

125

135

150

185

250

2015-W

125

135

150

185

250

2016-W

-

-

-

175

200

1922-S

1925

1926 1926-D 1926-S 1927 1927-D 1927-S

8000 -

1650 12000 2250 1650

7000

12000

1700 14000 2500 1700 480000 15000

1750 18000 3000 1750 650000 27500

1850 25000 6000 1850

2500 220000 30000 2500

30000 -

-

-

-

20000

-

1550000 2000000 3250000 48000

185000

360000

-

1928

-

1650

1700

1750

1850

2500

15000

-

1929

7500

12000

16000

22500

40000

92000

-

-

1930-S

20000

32500

52500

75000

125000

220000

-

-

1931

12000

17000

22500

37500

78000

115000

375000

-

1931-D

15000

18000

24000

38000

82000

138000

-

-

1932

14000

17500

22000

30000

75000

110000

-

-

1988-2016 GOLD EAGLES $10 QUARTER OUNCE PROOFS

1908-1915 SAINT GAUDENS DOUBLE EAGLES GOLD PROOFS

PR67

PR68

PR69

PR70

1988-P

300

325

475

650

1989-P

300

325

475

675

1990-P

300

325

475

700

1991-P

300

325

450

600

1992-P

300

325

475

700

1993-P

300

325

500

825

1994-W

300

325

475

650

PR60

PR61

PR63

PR64

PR65

PR66

PR67

PR68

1908

15000

16000

32000

48000

95500

118000

200000

285000

1995-W

300

325

475

650

1909

15000

18500

35000

58000

110000

135000

235000

285000

1996-W

300

325

475

725

1910

15000

18500

35000

56000

105000

128000

225000

280000

1997-W

300

325

475

725

1911

15000

16000

32000

48000

100000

118000

190000

260000

1998-W

300

325

450

650

1912

15000

16000

32000

48000

98000

148000

265000

-

1999-W

300

325

500

750

1913

15500

18500

35000

50000

100000

150000

265000

-

2000-W

300

325

500

725

1914

15500

18500

35000

53000

110000

160000

265000

-

2001-W

300

325

500

775

1915

15500

20000

36500

57000

100000

160000

275000

2002-W

300

325

450

750

50 coinagemag.com


COINage_Feb19_Layout 1 13-12-2018 18:13 Page 51

FEBRUARY 2019

1988-2016 GOLD EAGLES $10 QUARTER OUNCE PROOFS PR68

PR69

PR70

300

325

425

600

2004-W

300

325

475

625

2005-W

300

325

475

625

2006-W

300

325

450

550

2007-W

300

325

450

550

2008-W

300

325

475

675

1986-2016 GOLD EAGLES $50 ONE OUNCE PROOFS PR68

PR69

PR70

1986-W

1500

1650

2250

1987-W

1500

1650

2400

1988-W

1500

1650

2400

2010-W

300

325

475

575

2011-W

300

325

450

600

2012

300

325

450

575

1989-W

1500

1650

2450

2013

300

325

450

600

1990-W

1500

1650

2500

2014

300

325

450

575

1991-W

1500

1750

3500

2015

300

325

400

500

1992-W

1500

1650

3000

2016

-

-

375

400

1993-W

1500

1800

4100

1994-W

1500

1750

2500

1995-W

1500

1650

2500

1996-W

1500

1750

3000

1997-W

1500

1700

2500

1998-W

1500

1700

4000

1999-W

1500

1800

3500

2000-W

1500

1750

2500

2001-W

1500

1750

3600

2002-W

1500

1750

2500

2003-W

1500

1750

2400

2004-W

1500

1750

2400

2005-W

1500

1650

2000

2006-W

1700

1750

2000

2006-W (rev)

2500

2750

4000

2007-W

1500

1650

2000

1987-2016 GOLD EAGLES $25 HALF OUNCE PROOFS PR66

PR67

PR68

PR69

PR70

1987-P

575

625

700

950

1500

1988-P

575

625

700

975

1500

1989-P

575

625

1000

1250

4750

1990-P

575

625

1000

1250

5500

2008-W

1600

1750

2250

1991-P

575

625

700

950

1500

2010-W

1500

1650

2100

1992-P

575

625

700

975

1500

2011-W

1500

1650

2300

1993-P

575

625

750

1000

1500

2012-W

1500

1650

2000

1500

2013-W

1500

1650

2000

2014-W

1500

1650

2000

2015-W

1500

1650

1750

2016-W

-

1250

1500

1994-W 1995-W

575 575

625 625

700 700

950 950

1250

1986-2016 GOLD EAGLES $25 HALF OUNCE PROOFS PR66

PR67

PR68

PR69

PR70

1996-W

575

625

700

875

1000

1997-W

575

625

700

900

1500

1998-W

575

625

700

875

1250

1999-W

575

625

700

875

2250

THE COINAGE PRICE GUIDE

PR67 2003-W

1986-2016 GOLD EAGLES $25 HALF OUNCE PROOFS 2000-W

PR66

PR67

PR68

PR69

PR70

575

625

700

900

1000

1986-2015 SILVER EAGLES MS66

MS67

MS68

MS69

MS70

1986

25

30

35

90

1300

1987

25

30

35

65

1600

1988

25

30

35

75

2500

2001-W

575

625

700

875

1000

2002-W

575

625

700

875

1000

2003-W

575

625

700

875

1000

2004-W

575

625

700

875

1000

1989

25

30

35

75

1500

2005-W

575

625

700

875

1000

1990

25

30

35

80

5750

2006-W

575

625

700

875

1000

1991

25

30

35

60

6000

2007-W

575

625

700

875

1000

1992

25

30

35

80

1900

2008-W

575

625

700

875

1250

1993

-

30

35

60

5500

1994

35

40

45

100

6000

1995

30

35

40

100

1250

1996

35

40

65

150

12250

1997

30

35

35

85

1250

1998

30

35

35

70

1900

2010-W 2011-W

575 575

625 625

700 700

875 875

1000 1000

2012-W

575

625

700

875

1000

2013-W

575

625

700

875

1000

2014-W

575

625

700

950

1000

1999

-

30

35

60

26000

2015-W

575

600

650

750

900

2000

-

30

35

55

8000

2016-W

-

-

-

725

750

2001

-

30

35

55

1400

51


THE COINAGE PRICE GUIDE

FEBRUARY 2019

COINage_Feb19_Layout 1 13-12-2018 18:13 Page 52

1986-2015 SILVER EAGLES MS66

MS67

MS68

MS69

MS70

2002

-

30

35

50

325

2003

-

30

35

50

275

2004

-

30

35

50

275

2005

-

30

35

50

300

2006

-

30

35

50

125

1997-2008 PLATINUM EAGLES $10

250

MS68

MS69

MS70

1997

150

200

1250

1998

150

200

2500

1999

150

200

1500

2000

150

200

750

2001

150

200

400

2002

-

150

400

2006-W (burnished) 2007 2007-W (burnished) 2008 2008-W (reverse of 2007)

30

35

40

65

-

30

35

45

125

30

35

40

50

85

-

30

35

50

90

375

400

425

500

1250

-

35

40

50

100

2009

25

30

35

45

85

2003

150

200

575

2010

25

30

35

45

80

2004

150

200

400

2011

25

30

35

45

80

2005

150

200

275

2012

30

35

40

50

75

2006

150

200

275

2013

30

35

40

45

75

2006-W (burnished)

150

350

550

2014

-

-

40

50

75

2007

150

200

275

2015

-

-

40

50

75

2007-W (burnished)

150

225

375

2008-W (burnished)

2008

150

225

375

2008-W (burnished)

250

325

450

1986-2015 SILVER EAGLES PROOFS 1997-2008 PLATINUM EAGLES $10 PROOFS

PR65

PR67

PR68

PR69

PR70

1986-S

30

35

40

75

450

PR68

PR69

PR70

1987-S

30

35

40

75

1000

1997-W

175

225

500

1988-S

30

35

40

75

650

1998-W

175

225

550

1989-S

30

35

40

75

400

1999-W

175

225

350

1990-S

30

35

40

75

300

2000-W

175

225

325

1991-S

30

35

40

80

550

2001-W

175

225

400

1992-S

30

35

40

75

450

1993-P

60

70

75

90

2500

1994-P

70

75

80

175

2250

1986-2015 SILVER EAGLES PROOFS

1997-2008 PLATINUM EAGLES $10 PROOFS PR68

PR69

PR70

2002-W

175

225

325

2003-W

175

225

375

2004-W

350

400

625

PR65

PR67

PR68

PR69

PR70

2005-W

175

225

550

1995-P

65

70

75

100

425

2006-W

175

225

300

1995-W

-

4000

4250

5500

35000

2007-W

200

225

325

1996-P

30

35

40

75

425

2008-W

250

300

525

1997-P

50

60

65

100

500

1998-P

30

35

40

70

250

1999-P

30

35

40

80

425

2000-P

30

35

40

75

425

2001-W

30

35

40

70

175

2002-W

30

35

40

70

150

2003-W

30

35

40

70

100

2004-W

30

35

40

75

100

2005-W

30

35

40

70

100

2006-W

-

35

40

65

100

2007-W

30

35

40

65

100

2008-W

30

35

40

75

100

1997-2008 PLATINUM EAGLES $25 MS68

MS69

MS70

1997

375

550

2500

1998

375

425

2000

1999

375

500

5500

2000

375

425

1000

2001

375

425

2250

2002

375

425

650

2010-W

30

35

40

70

100

2011-W

30

35

40

75

100

2012

30

40

45

70

100

2013

30

35

40

70

100

2003

375

425

600

2014

30

35

40

70

100

2004

375

425

525

2015

30

35

40

70

100

2005

375

425

550

52 coinagemag.com


COINage_Feb19_Layout 1 13-12-2018 18:13 Page 53

FEBRUARY 2019

1997-2008 PLATINUM EAGLES $25

1997-2008 PLATINUM EAGLES $50 PROOFS

MS69

MS70

PR68

PR69

PR70

2006

375

425

550

2002-W

800

900

1000

2006-W (burnished)

475

625

950

2003-W

800

875

1000

2007

375

425

525

2004-W

1000

1250

1500

2007-W (burnished)

375

450

625

2005-W

-

1000

1250

2008

375

425

525

2006-W

700

800

1000

2008-W (burnished)

475

575

1000

2007-W

700

800

1000

2008-W

1000

1250

2000

THE COINAGE PRICE GUIDE

MS68

1997-2008 PLATINUM EAGLES $25 PROOFS PR67

PR68

PR69

PR70

1997-W

-

375

450

575

1998-W

-

375

500

600

1999-W

-

375

500

525

2000-W

-

375

475

525

2001-W

-

375

500

575

2002-W

-

375

450

525

1997-2015 PLATINUM EAGLES $100 MS68

MS69

MS70

1997

1500

2000

10500

1998

1500

1750

-

1999

1500

2000

-

1250

1500

-

2003-W

-

375

475

575

2000

2004-W

575

600

750

1000

2001

1250

1750

-

2005-W

-

375

500

675

2002

1250

1750

7500

2006-W

-

375

500

550

2003

1250

1750

5500

2007-W

-

375

475

525

2004

1250

1750

2750

2008-W

-

500

600

1000

2005

1250

1750

2750

2006

1250

1500

2250

-

1500

2500

2006-W (burnished) 2007

1250

1500

2250

-

1500

2500

2008

1250

1500

2250

2008-W (burnished)

1250

1500

2500

2014-W

1250

1500

2500

2015-W

-

1250

1500

2007-W (burnished)

1997-2008 PLATINUM EAGLES $50 MS67

MS68

MS69

1997

750

800

1000

MS70 4500

1998

700

725

950

12000

1999

700

750

1000

-

2000

-

700

925

-

2001

700

725

875

-

2002

-

700

850

1500

2003

-

700

800

1250

2004

-

725

800

1250

2005

-

725

800

1000

2006

-

700

775

1000

PR68

PR69

PR70

2006-W (burnished)

-

775

850

1250

1997-W

-

1500

4000

2007

-

725

775

1000

1998-W

1500

1750

2500

2007-W (burnished)

-

825

975

1250

1999-W

1500

1750

2750

2008

-

700

775

1000

2000-W

1500

1750

2500

2008-W (burnished)

-

1250

1500

2000

2001-W

1500

1750

3500

2002-W

1500

1750

2500

2003-W

1500

1750

3500

2004-W

2000

2250

3500

2005-W

2000

2500

3250

2006-W

1500

1750

2500

2007-W

1500

1750

2250

2008-W

-

2000

2750

1997-2008 PLATINUM EAGLES $50 PROOFS

1997-2015 PLATINUM EAGLES $100 PROOFS

2009-W

2000

2250

2500

PR68

PR69

PR70

2010-W

1500

1750

2000

1997-W

700

900

1250

2011-W

1500

1750

2000

1998-W

700

900

1000

2012-W

1500

1750

2250

1999-W

700

900

1000

2013-W

1500

1750

2500

2000-W

825

900

1000

2014-W

-

1500

2250

2001-W

750

950

1250

2015-W

-

1750

2000

53


Silver Coinage Tops Popularity List

1893-O Morgan dollar in an old, “rattler” style slab. (Image courtesy Heritage Auctions.)

SECRETS TO BIG PROFITS IN SILVER COIN BUYING AND SELLING BY JOSHUA MCMORROW-HERNANDEZ

54 COINAGEMAG.COM


I

n the Olympics, winning a silver medal usually means coming in second behind the first-place gold medal winner. In the world of insurance, a silver plan probably covers the doctor and prescriptions you want but comes with a big, four-figure deductible to boot. But in the numismatic world, silver doesn’t play second fiddle to gold – or anything else. Silver coinage is among the most popular in virtually every segment of the marketplace, from collectors who seek budget-friendly modern coins to advanced specialists pursuing early American type coins. One of the most popular United States coins of all time is the Morgan dollar, the iconic 90% silver Liberty head coin designed by George T. Morgan and produced from 1878 through 1921. And the coin vaunted as one of America’s most beautiful is the Walking Liberty half dollar, a timeless 90% silver series designed by Adolph A. Weinman and struck from 1916 through 1947. Beginning in 1986, Weinman’s Walking Liberty design was replicated on the American silver Eagle, which launched in 1986 and soon became one of the most widely sought silver bullion coins in the world. Some of the first coins ever struck in the United States were half dismes, the forerunner of the 5-cent denomination that many consider the first coins ever struck under the authority of the Mint Act of 1792. Folklore suggests the silver for the production of these coins was melted down from George and Martha Washington’s personal collection of tableware. A slew of other silver coins came online over the next few years, including half dollars and silver dollars in 1794 followed by dimes and quarters in 1796. Sure, silver coins may be popular, artful, historically significant collectibles. But how has silver coinage performed over the long term in the numismatic world and as a bullion commodity? What are some of the secrets of timing your next silver purchase or sell-off ? Could silver have a lustrous 2019? Examine the price performance of silver coins over the years, and history will show that collectible and bullion coins made from the noble white metal have endured a wild roller coaster ride. This is both because of fluctuations in spot metal prices and changing winds in the numismatic market. Across the board, silver coins have increased handsomely in value since the early 1960s, when bullion prices reached above $1.29 an ounce, making it profitable to melt circulating 90% silver coins such as dimes, quarters, and half dollars. This caused widespread hoarding of silver coins across the country, leading to a phase-out of 90% silver coinage in 1965.

GETTY IMAGES

COINAGE FEBRUARY 55


1921-S Morgan silver dollar. (Images courtesy Heritage Auctions.)

Around that time, in 1963, Coin Dealer Newsletter, now known as Monthly Greysheet, began tracking the wholesale coin prices paid by coin dealers. Thanks to this historical pricing data, we can look back today and see how silver coin prices have changed over the years. In June 1963, when the first issue of Greysheet was published, silver was $1.30 per ounce, equating to an inflation-adjusted amount of about $10.69 in today’s dollars. At that time, rolls of contemporary 90% silver dimes, quarter, and half dollars – popular among numismatic speculators at the time – were red hot. Uncirculated 50-piece rolls of 1949-S and 1950-S Roosevelt dimes, considerably tough among the late dates then, commanded $250 and $225, respectively. Among the tougher Washington quarters were the 1946-S and 1953, which realized $59 and $85 apiece in dealer-to-dealer trades. Half dollars were also sizzling, with rolls of 1949 halves taking as much as $170 in wholesale trading. Had a young investor in 1963 purchased a bevy of these scarce-date rolls and held on to them over the course of time, he or she could have found themselves becoming more financially well-off with their investment. Consider that, as of press time, silver trades for around $14.50 per ounce. Adjusted for inflation from 1963, that hypothetical silver investor is already ahead by about $4 per ounce. Not bad. But here’s the rub: Rolls of contemporary silver coinage have lost numismatic value over the years, when adjusted for inflation. Those rolls of 1949-S and 1950-S dimes now trade for around $1,850 and $1,300. The rolls of 1946-S and 1953 56 COINAGEMAG.COM

quarters? Those now trade for $320 and $350. The 1949 halves now fetch about $625. All told, these modern-day prices represent inflation-adjusted losses of approximately 10% to 70%. With numismatic demand for uncirculated rolls nowhere near as strong as it was decades ago and silver only marginally better today than it was 55 years ago, would the best opportunity for this now-elderly investor to have been selling those rolls years back, when prices were stronger than today? Looking back over the previous four decades, silver has enjoyed at least two significant bull markets in the last four decades: once during the period 1979-1981 and again in 2010-2013. During both periods, silver briefly flirted with nominal values of nearly $50 per ounce. The peak of the first run, when prices crested to about $49.50 in January 1980, is equivalent in today’s dollars to approximately $115 – an astronomical amount by any measure. Meanwhile, the more recent silver run saw relatively lower inflation-adjusted levels of about $54. Even in June 2011, when silver reached its second all-time peak, the 1980 silver prices were still the highest ever when accounting for the impacts of inflation. So what were the intrinsic values of those 90% silver dime, quarter, and half dollar rolls worth back in 1980 and 2011? Assuming a silver price of $50 per ounce, a roll of 90% silver halves contains about $723 in silver, quarters $362, and dimes $145. Of course, those nominal values wouldn’t be any different in 1980 than they were in 2011, assuming the price of silver is the same $50. Interestingly, much of the coin market was also strong


GETTY IMAGES

The 90% silver Walking Liberty half dollar was produced from 1916 to 1947.

The silver American Eagle, debuting in 1986, bears a replication of Adolph A. Weinman’s Walking Liberty design.

(Image courtesy Heritage Auctions.)

(Image courtesy Heritage Auctions.)

around 1980, when silver prices were booming and bullion speculators were also dipping their toes into numismatic waters. Those rolls of 1949-S and 1950-S dimes were trading for about $2,200 and $1,100, respectively, in 1980. These figures trend well past inflationary increases of the 1960s and ’70s, representing a profit of about 300% for the 1949-S roll and 175% for the 1950-S roll. Meanwhile, the 1946-S and 1953 Washington quarter rolls listed in 1980 for $330 and $310, allowing that investor to pick up handsome inflation-adjusted profits in the early ’80s of around 50% for the roll of 1946-S quarters and 27% for the 1953 roll. Not too shabby! As for that roll of 1949 Franklins? Listed for $1,500 in 1980, it was yet another winner back then, essentially tripling in value against inflation and rewarding that investor with a tidy $1,040 profit. As silver prices tumbled throughout the later 1980s and into the ’90s, so, too, did roll prices also edge downward over time. We can only hope this nameless but prudent investor took his or her earnings from selling those rolls of silver coins in 1980 or ’81 and immediately invested it in stock shares from digital technology firms IBM or Apple, the latter of which went public on December 12, 1980. This scenario paints the picture of what can happen when you liquidate your silver numismatic items at the right time. Yes, 1980 was a very good time to sell certain silver coins and other numismatic items if they had been bought several years earlier. But 1980 was also a horrible time to buy silver because in a direct dollar-for-dollar comparison basis, even during the 2011 bull market that was to come years later, the white precious metal never reached, let alone eclipsed, its inflation-

adjusted high from three decades earlier. Does this mean silver is not a good investment? Not in the least. First, the most obvious point: Who’s to say silver won’t yet again rally to another all-time high? Investors who have theoretically held silver since 1980 and wish to make a profit will need to wait until prices break the three-figure threshold, but those who are considering an investment in silver today are living in a time when the precious metal is trading at multiyear lows. Again, with silver at around $14.50 per ounce, the precious metal is trading for far less than it did during the first half of this decade, when nominal prices were $20 to $30 per ounce or even higher. Silver has another good thing going for it: like gold, it is an excellent hedge against inflation. While prices are sure to fluctuate with the ebbs and flows of the economy, it nevertheless holds its own well in markets where consumer prices are spiraling upward. There’s perhaps no better example of this than the 1979-1981 market, a period of “stagflation” marked by soaring interest rates, double-digit inflation, and increasing unemployment figures – a triple threat that made times tough for many, if not most, Americans. Yet silver held strong, breaking all-time price records and proving an outstanding performer for those who invested prior to the market peak in late January 1980. Some will point to the silver picture of that period and suggest the reason behind silver’s white-hot market in 1979 and early 1980 had little to do with inflationary economic conditions and everything to do with Texas billionaire siblings William Herbert and Nelson Bunker Hunt. These infamous COINAGE FEBRUARY 57


(Image courtesy Heritage Auctions.)

brothers inherited billions in oil money and sank much of it into silver on the hopes that the spiraling inflation of the 1970s would put pressure on silver prices, turning massive profits for them. The Hunts snapped up billions in silver, cornering the market on the white metal and squeezing available supplies. Yes, the Hunts’ bullion buyout did significantly help inflate the price of silver. But other commodities, including other precious metals, also dramatically increased in price during the inflation-fraught era of the late 1970s and early ’80s. During that same period, gold saw a four-fold increase over a period of just a few years to cross the $800 mark in early 1980. Meanwhile, palladium and platinum swelled to then-record prices of nearly $350 for the former and more than $1,000 for the latter. No bullion investor who cares about the overall welfare of the American economy should hope for a repeat of those tough times with the hope of seeing an uptick in bullion portfolio profits. But the unfortunate situation for everyone is that our nation may just be in for more tough times down the road. The year 2019 may not be a very good time for many Americans. Interest rates are rising again. The stock market gave many investors a few more gray hairs toward the end of 2018, mainly due to the increasingly tense situations between the United States and some of its biggest trading partners, including China. The tariff war between the U.S. and China may eventually spur some increases in U.S. manufacturing, but will those potential new jobs offset mas58 COINAGEMAG.COM

Silver commemorative coins, such as this 1922 Ulysses S. Grant with Star half dollar, enjoyed an uptick in value during the late 1980s only to crash in late 1989. (Images courtesy Heritage Auctions.)

sive layoff by American companies that suddenly are paying much more for Chinese-made goods that can’t be or aren’t sourced in the U.S.? This scenario doesn’t account for other economical negatives that could unfold in 2019, including sociopolitical mayhem in the U.S. or abroad, terrorist attacks, climaterelated troubles, and other impacts that can have deleterious effects on the American or world economy. And what about matters that directly affect bullion metals? Most notable of these are issues relating to the mining or refining of precious metals. Don’t forget, silver is essential in industrial manufacturing and production. So mining shortfalls and backlogs in refining large amounts of silver during periods of high demand are just two of many potential scenarios in which the bullion market itself experiences extenuating pressures capable of rendering silver supplies scarce and thus increasing metal prices. In any and all of these cases, bullion metals could handily enjoy significant and enduring increases in value. Does this send silver off to heights of $50 or $100? It’s hard to say. But among a few things to remember is that silver prices are historically tied to gold prices, and bullion levels on the whole often respond to vibrations in other major commodities markets, such as oil. What’s more, bullion prices typically have an inverse reaction to the strength of the U.S. dollar (the value of the U.S. dollar as compared to other major world currencies). In other words, bullion prices tend to languish or drop as the dollar strengthens on the international market. As goes most pricing-related phenomena in the bullion arena, this is not a

GETTY IMAGES

In 1963, rolls of 90% silver coin rolls, such as Franklin half dollar rolls, were hot items in the marketplace. Wholesale prices for rolls of the 1949 half were as high as $170.


When bullion prices jump and generic silver coins are melted, coins like this 1926-S Mercury dime become increasingly scarce.

GETTY IMAGES

(Images courtesy Heritage Auctions.)

hard-and-fast rule. However, it is an anecdotal observation with plenty of historic merit. Over the past few years, silver has made some bold moves. For the first time since August 2010, silver fell below $20 an ounce during the fall of 2014 and has spent most of the past four years hovering between $16 and $18. Investors were excited by a bullish push above the $20 mark in July 2016, but the bears have twice prevailed in the last few years, briefly pulling silver below $15 in late 2015 and again for a sustained period during the summer and fall of 2018. Is it a good time to buy or sell? The crystal ball looks cloudy. For all the talk about silver coinage as a bullion investment, there’s this concept: silver coins as numismatic collectibles. While the buying and selling of silver coins can make or break fortunes for investors, there are many folks who pursue silver coinage with the aim of building sets and mere tertiary aspirations of actually making any profit from this. Yes, silver numismatic coinage has increased in value over the years. In fact, in looking back through pricing data, it can be seen that virtually all classic U.S. coin series have seen some long-term increases in value over the period of years or decades. The major exceptions to this would be found among classic U.S. commemorative coins and some generic (common-date) Gem Uncirculated 20th-century silver types such as Morgan dollars; these series saw massive run-ups in value during the late 1980s when deep-pocketed speculators and some Wall Street investors embraced MS-grade certified coinage as a portfolio player. Prices crashed in late 1989 and remained suppressed into the ’90s. Today, many of the

coins that figured into that feverish market, namely classic commems and many 20th-century silver halves and dollar coins, have fallen to levels representing mere fractions of their late-1980s highs. Of course, historically low prices represent an opportunity for enthusiasts who wish to build sets of these coins. Data shows the entire collection of classic silver commemoratives, struck from 1892 through 1954, can be acquired in miduncirculated grades for as little as 20% of their 1989 prices, and maybe even lower. Meanwhile, some Morgan dollar issues can be bought in the MS-65 range for a fraction of their respective 1989 prices. Consider, for example, the 1878 8 Tail Feathers, 1887-O, and 1921-S. These three pieces were listed at MS-65 on May 26, 1989, with bid prices of $4,000, $11,600, and $4,625, respectively. Today, these three Morgans trade in MS-65 for $925, $1,400, and $650. These figures represent their nominal prices; surely, factoring in the effects of inflation since 1989 helps to make these particular Morgan dollars even more alluring to bargain-hunters. And then there is something else collectors should remember: “common-date” silver coinage may not really be as common as it once was. The silver booms of the past resulted in tens of millions of generic 35% silver war nickels, 40% silver quarters, halves, and dollars, and 90% silver coins meeting their demise in the smelting pot. Presumably, future silver runs will also spell a fiery end for millions upon millions of other generic silver coins. This does not necessarily mean common coins such as circulated 1940s Mercury dimes, worn 1950s Washington quarters, or uncirculated 1964 KenCOINAGE FEBRUARY 59


60 COINAGEMAG.COM

GETTY IMAGES

lios with bullion or simply stack some in their nedy half dollars will become rare in our lifetimes. A page from a 1970 However, some lower-mintage issues that pres- edition of Greysheet personal vaults for that proverbial rainy day. Trade silver coins in favorable conditions ently trade at or near their bullion melt values shows historic retail pricing for Morgan and you’re sure to reap financial gain. But if may become noticeably more challenging to locate and Peace dollars. you buy the best quality examples of what down the pike. (Image courtesy CDN Publishing.) you like, purchasing silver coins that speak to There’s always a silver lining when it comes to your numismatic soul, then no matter where silver. When prices are down, silver affords investors and collectors an excellent chance to buy with decent the market ends up you’ll enjoy the real rewards. Will you hopes of realizing profits at a later date. Conversely, when realize a profit in the long run? Time will tell, but if you do, metal prices are up, those who hold silver benefit from those that’s just icing on the cake. • increasing prices, as does the hobby, which invariably sees an Advertising Index influx of foot traffic when bullion prices go up. Silver may be Advertiser Page among the whitest of metals, but in the bullion and numisBerry Bee Jewelry 35 matic marketplaces it’s one of the most colorful, providing CAC 5 endless opportunities for profit-seekers and coin enthusiasts Coast to Coast Coins Back Cover COINage 37, Inside Back Cover alike to build winning portfolios and beautiful collections. Empire Coins 19 Jack H. Beymer 7 Is silver a guaranteed investment? No. But it can provide Joel Anderson 19 its owner with a solid insurance policy against economic John Paul Sarosi, Inc. 13 Larry Shapiro Rare Coins 35 travails and help soften the blow of a rough stock market, McQueeney Coins 19 choppy real estate waters, or sky-high inflation. The silver Mike Kragel 35 Norwood Coin 2, 3 you buy today may or may not be worth more when you Palisades 19 decide to sell it months, years, or decades from now. But in a Pioneer Gem Corporation 35 Sight White 35 world where anything goes, silver remains a top investment Stand Up To Cancer 64 Universal Coin Inside Front Cover choice among investors who wish to diversify their portfo-


KIDS

By Marcy Gibbel

KICKING OFF COIN SHOW SEASON Ten Little Tips for Enjoying a Big Show

T

here really isn’t a coin show “season.” No, coin shows run year-round, but many see January – during which the FUN Show and Long Beach Expo occur – as the kickoff to the numismatic year, as well as the calendar year. With coin show season under way, it’s a perfect time to offer a few tips that will make your experience even more enjoyable as you plan your show schedule for the year.

01

ESTABLISH A BUDGET. Unless you have unlimited funds, you may regret coming home from the coin show with a case full of coins you didn’t budget for. If this is your first coin show, you’ll learn just how easy it is to spend money. Set your budget 10 percent below what you can afford. If you end up spending slightly more, that 10 percent cushion will keep your cash in check.

02

SPEAKING OF CASH: BRING IT. Even in this day of debit cards and electronic payment apps, many coin dealers aren’t able or choose not to complete credit or debit transactions at coin shows. Cash will come in handy, too, if you have to pay for parking.

03

WEAR COMFORTABLE WALKING SHOES. Shoes so comfortable, you’d wear them for a day at an amusement park. Big coin shows are held in big venues, like major convention halls, or hotel ballroom suites. The bourse floor of some shows covers multiple levels of a facility. And don’t forget the parking lot or structure. Between the two, you’ll easily walk a few miles.

04

BRING A FRIEND. Someone to walk and talk with, maybe even get a little help or advice from, can make the day more enjoyable. And make sure you have a parent’s permission before planning your show trip.

05

BRING YOUR WANT LIST. You’ll never remember every coin you want to get, so don’t even try. Make a want list and remember to bring it with you to the coin show.

06

EARLY BIRD GETS THE WORM. Arrive early, not toward the end of the day, when some dealers may be packing up.

07

PICK UP A PROGRAM AND MAP. Major coin shows attract hundreds of dealers. Even if you plan to attend multiple days, you’ll have to pick and choose which ones to visit, because there really is no way to stop by every booth. Decide which type of coin dealers you’re looking for – ancient coins, bullion coins, rare U.S. coins – and go to those dealers first.

08

TAKE NAMES. … and phone numbers, addresses, websites, and email addresses. There will be many dealers you may want to work with in the future. Make sure you have their contact information so you can stay in touch.

09

IF YOU’VE GOT IT, HIDE IT. Don’t flaunt your purchases or flash your cash, and watch your back. Some unsavory characters will tail their victims. If it seems like you keep seeing the same person behind you, it’s possible you may be a target. If you feel uncomfortable, seek out an adult you trust, a security guard, or police officer and have them walk you to your car, or another pre-designated meeting place.

10

GET MORE BANG FOR YOUR BUCK. Many major coin shows now charge an admission fee, so make the most of it. Buying or selling coins on the bourse may be your main reason for attending a show, but take advantage of the other activities offered. Attend seminars or lectures, sit in on an auction, view the exhibits, and make some new friends who share your interest in coins. • COINAGE FEBRUARY 61


TAKE NOTE

ACCEPTING APPLICATIONS

Openings on CNA Board

[ATLANTA, GEORGIA] Whitman Publishing is accepting applications to its Canadian Numismatic Advisory Board (CNAB). Applications must be postmarked no later than February 1. The CNAB was established to “advise the publisher and editors of Whitman Publishing on topics relating to Canadian coins and tokens, medals, paper currency, and related numismatic items.” Such topics include everything from Colonial and provincial coinage to circulating issues of the Dominion of Canada, 1867 to today. The board also advises on grading, photography, the Royal Mint and other hobby-related areas. Appointed board members serve a two-year term. Membership is open to professional numismatists, hobbyists and anyone with an interest in Canadian numismatics. Candidates must have an interest in Canadian history and have tangible experience in the study of Canadian numismatics. They must also be able to demonstrate “a history of honorable professional and personal conduct; and successful standing in their communities. Candidates must be free of professional, political, or financial interests that could negatively affect their ability to provide impartial advice.” Anyone wishing to be considered for participation on the CNAB must submit a resume and cover letter. Supporting documentation is encouraged. Send it by mail to Dennis Tucker, Publisher; Whitman Publishing, P.O. Box 191884, Atlanta, GA 31119, or email it to dennis.tucker@whitman.com.

CENTENNIAL CELEBRATION Chicago Coin Club Launches Hall of Fame [CHICAGO, ILLINOIS] To mark the centennial of the Chicago Coin Club, 1919-2019, the club has initiated a Hall of Fame to recognize some of the prominent numismatists who have been members over the past century. Twelve inductees have been selected; one will be announced each month during its centennial year. The Hall of Fame can be found on the club’s web page, www.chicagocoinclub.org/projects/hof. The Chicago Coin Club was organized in 1912 as American Numismatic Association Branch No. 1 and reorganized under its present name in 1919. All are invited to join, but there is a lengthy application process. To become a member, you must attend a meeting and submit an application along with a membership fee of $20 ($10 for Junior membership). A first read-

62 COINAGEMAG.COM


REGISTRY LAUNCHED Armstrong Items First to be Featured

[SARASOTA, FLORIDA] Collectibles Authentication Guaranty (CAG) recently launched the CAG Artifact Registry, a searchable online gallery of CAG-certified collectibles. It can be viewed at CAGcertified.com/Registry. The first collection to be featured is the Armstrong Family Collection, consisting of thousands of artifacts saved by astronaut Neil Armstrong, the first man to walk on the moon, and his immediate family. The Armstrong Family Collection was the first to be entirely certified by CAG. The first auction of nearly 1,000 items realized more than $5.2 million. Initially included in the launch of the CAG Artifact Registry are 956 items from the Armstrong Family Collection. More will be added in the coming months. The items are displayed with descriptions and high-resolution images.

The Armstrong Family Collection is made up of thousands of artifacts, some similar to the medal shown here, saved by Neil Armstrong (pictured) and his family.

Special search options allow users to filter to items that were flown in space—and, in an even more prestigious subset--flown on the Apollo 11 Lunar Module. Additional CAG-certified artifacts from the Armstrong Family Collection are expected to be sold this spring before the 50th anniversary of the historic Apollo 11 moon landing mission. Images and descriptions for these items will be added to the CAG Artifact Registry soon. CAG is an impartial certification service that works directly with collectors, estates, artists, and museums to preserve the authenticity and provenance of their artifacts, memorabilia and estate items. CAG is a member of the Certified Collectibles Group (CCG) of companies, whose members include the world’s leading certification services for coins, bank notes, comic books, magazines, and stamps.

ing of your application will be held at this meeting and a second reading at the next monthly meeting, following publication of your name in the club newsletter. (You are not required to be present for the second reading.) You will become a member upon membership’s approval. The club holds monthly meetings in downtown Chicago, plus at major numismatic conventions such as Central States, with a speaker featured at every meeting except the annual auction, held at the November meeting. For more information about the Chicago Coin Club, visit www.chicagocoinclub.org. •

COINAGE FEBRUARY 63


COINage-Dec COINage-Feb COINage-NovIssue.indd Issue.indd Issue.indd 64 57 37

10/16/2018 12/13/2018 9/19/2018 8:53:15 7:16:22 3:15:33 PM PM


Keeping a close eye on your collection?

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–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––

Always Buying & Selling! –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––

As you can see from our ads; we offer a diverse selection of quality rare U.S. coins & currency. It’s a struggle to come up with a continual supply of material and, to that end, we are always strong buyers. If you have numismatic material to sell, please give us a call. We are fast, confidential, and willing to travel to buy deals.

Call us Toll Free at

1-800-638-8869 Below are some of our newer purchases, offered for sale. Log on to www.coastcoin.com to see full descriptions and photos of these coins plus our complete inventory of U.S. coins & currency! Colonial Coinage –––––––––––––––––

Bust Half Dollar –––––––––––––––––––

1794. PCGS. VF-20. A rarity. . $13750.00

Barber Half Dollars ––––––––––––––––

1894. PCGS. PR-66. CAM.. . . . $3695.00

Peace Dollars –––––––––––––––––––––

1927-S. PCGS. MS-65. Frosty. . $6795.00 1928-S. PCGS. MS-65. . . . . . . $18750.00

Early Silver Commemoratives ––––––

1893 Isabella Qtr. PCGS. MS-66+. CAC. Beautifully toned & lustrous. . $5495.00

1783. Chalmers. PCGS. AU-50. CAC. 3 Pence. Very scarce. Only 15 pieces graded by PCGS in all grades. $25495.00

Half Cents –––––––––––––––––––––––

1795. NGC. XF-40. C-6a. Plain Edge, No Pole. Strong detail.. . . . . . $3995.00 1828. PCGS. MS-64. BN. CAC. 12 Stars. One of the nicest we’ve seen! $3750.00

Large Cent –––––––––––––––––––––––

1793. PCGS. G-6. Chain. America. Full date & legends. Bold chain. . $8895.00

Indian Head Cent –––––––––––––––––

1862. NGC. PF-66+. Flashy.. . . $3495.00

Lincoln Cent ––––––––––––––––––––––

1909-VDB. PCGS. MS-66. RD. Doubled Die Obv. Original blazing red. $3575.00

Two-Cent Pieces ––––––––––––––––––

1866. PCGS. PR-66+. RB. CAC. $7250.00 1873 Open 3. PCGS. PR-65. RB. CAC. Just 500 minted.. . . . . . . . . . . $5250.00

1896-O. PCGS. MS-64. This is the rarest date in the series in Mint State. One of the stars of our inventory! . . $18500.00 1897-S. PCGS. AU-58. CAC. . . $3995.00 1907-S. PCGS. MS-63. Satiny. . $5595.00 1911-S. PCGS. MS-66. Satiny. . $6875.00

Walking Liberty Half Dollars ––––––––

1916-S. PCGS. MS-64. Gold CAC. Gorgeous original surfaces. . . $5995.00 1918-D. PCGS. MS-64. CAC. Brilliant. Early green label holder. . . . . $5750.00 1919. PCGS. MS-64. CAC. . . . . $5250.00

1900 Lafayette Dollar. PCGS. MS-65+. Beautiful vibrant white luster with a very faint champagne tint. . . . $6750.00

Early Gold Commemoratives ––––––––

1904 Lewis & Clark $1. PCGS. MS-67. Blazing butter-gold luster. . . $10495.00 1905 Lewis &Clark $1. PCGS. MS-65. Only 10,041 pieces minted. . $4650.00

United States Gold Coins ––––––––––

1857-C $1. NGC. AU-58. . . . . $5350.00 1883 $1. PCGS. MS-67. CAC. . $3995.00

Silver Three-Cent Piece –––––––––––––

1866. PCGS. MS-65. Blast white. $3895.00

Nickel Three-Cent Piece ––––––––––––

1877. PCGS. PR-65. CAC. . . . . $3995.00

Buffalo Nickels –––––––––––––––––––

1913 T-1. PCGS. PR-67. . . . . . . $6750.00 1913 T-2. PCGS. PR-67. . . . . . . $5495.00 1927-S. PCGS. MS-64. . . . . . . . $4375.00

Mercury Dimes –––––––––––––––––––

1921. PCGS. MS-65. Beautiful satiny white luster and an excellent strike on this Gem key date ‘Walker’. The 2nd lowest mintage in the series. $23500.00 1928-S. PCGS. MS-64. . . . . . . . $4695.00

Seated Liberty Dollar –––––––––––––– 1872. PCGS. MS-64. Nice! . . . $5625.00 1916-D. PCGS. MS-64+. CAC. Super clean for the grade. Abrasions are minimal and nondescript . . $24995.00 1942/1-D. PCGS. MS-64. FB. . . $9995.00

Barber Quarter –––––––––––––––––––

1913-S. PCGS. MS-66. . . . . . . $42500.00

Standing Liberty Quarters ––––––––––

1917-S T-1. PCGS. MS-67. FH.. $5950.00 1926-S. NGC. MS-64. FH. . . . . $9995.00

COMPANY POLICY

Morgan Dollars –––––––––––––––––––

1880. NGC. MS-66. PL. Scarce. $4495.00 1891. PCGS. MS-64. DMPL. . . $5495.00 1894. PCGS. MS-63. Flashy.. . . $4795.00 1894-S. PCGS. MS-65. CAC. . . $6895.00 1895-S. PCGS. MS-62. Flashy. . $5175.00 1895-S. PCGS. MS-62. CAC. . . $5995.00 1895-S. PCGS. MS-64. . . . . . . . $8750.00 1895-S. PCGS. MS-65. Flashy. $20625.00 1904. PCGS. MS-66. Frosty. . . . $6595.00

• Add $5.00 postage & handling to all orders under $500. Free shipping on orders of $500 or more. • All items unconditionally guaranteed genuine. • Full 14 day return privilege from day you receive your items except for bullion orders which may not be returned for a refund. • Any single coin removed from its holder will be considered sold. • Maryland Residents add 6% sales tax on orders under $1000. • All prices subject to change.

1804 $2.5. PCGS. AU-53. 14 Stars Rev. 1804 is the sexiest date in American numismatics as most denominations bearing this date are very rare. $19500.00 1842-D $2.5. NGC. AU-53.. . . $7795.00 1911-D $2.5. NGC. MS-60.. . . $6395.00 1911-D $2.5. PCGS. AU-58. Strong D. Very nearly mint state.. . . . . . $4995.00 1866 $3. PCGS. MS-61. . . . . . . $5295.00 18786 $3. NGC. MS-64. CAC.. $5495.00 18846 $3. PCGS. MS-63.. . . . $10995.00 1799 $5. PCGS. MS-61. Large Star Rev. Scarce in any grade. . . . . . . $34950.00 1806 $5. PCGS. AU-55. Round 6, 7x6 Stars. Very desirable.. . . $11995.00 1835 $5. NGC. MS-61. . . . . . . $4495.00 1860-C $5. PCGS. AU-53. CAC. $5995.00

Visa, MasterCard, Discover, American Express, checks and money orders accepted

1899 $5. PCGS. PR-63+. DCAM. CAC. Only 99 proofs minted!. . . . $17500.00 1910-S $5. PCGS. MS-63. . . . . $9295.00 1800 $10. PCGS. AU-53. . . . . $19995.00 1858-S $10. PCGS. AU-53. . . . $8995.00 1870 $10. NGC. AU-53. . . . . . $3875.00 1894-O $10. PCGS. MS-63.. . . $5495.00 1890-CC $20. NGC. AU-58. CAC. Very nearly mint state.. . . . . . $6875.00

1907 $20. PCGS. MS-63. St. Gaudens. High Relief. Wire Edge. Roman Nums. Wonderful depth of design.. $20749.00 1924-D $20. PCGS. MS-64.. . $10950.00 1924-S $20. PCGS. MS-64. . . $13950.00 1925-S $20. PCGS. MS-63. . . $13795.00 1926-S $20. PCGS. MS-63+. . . $6395.00

U.S. Patterns –––––––––––––––––––––––

1866. Nickel. PCGS. PR-66. J-489. Low R-6. Similar to the regular Shield Nickel. Fancy 5 rev. Struck on a thick planchet in nickel with a plain edge. . . $5465.00 1869. Quarter. PCGS. PR-65. CAM. J-737. CAC. “Standard Silver Quarter”. High R-7. Struck in Aluminum w/a reeded edge. Only a very few known! $4995.00

1870. Dime. NGC. PF-67. J-831. CAC. High R-6. A William Barber design w/a Seated Liberty on the obverse and the adopted Seated Dime reverse. Struck in silver with a reeded edge. . $5750.00

Large Size Currency ––––––––––––––––

1901. $10. F-114. PCGS. Gem-65. PPQ. LTN. First ‘Bison’ issue. . . . . $12495.00 1905. $20. F-1180. PCGS. VF-25. Gold Cert. Technicolor. Nice color. $6795.00

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Order Toll Free 1-800-638-8869 • www.coastcoin.com COINage-Feb Issue.indd 4

12/13/2018 8:53:23 PM

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CoinAge Feburary 2019  

COINage February 2019, Inside Look, First U.S. Silver Coins, Scott Travers' Top 12 Coins for 2019, And More......

CoinAge Feburary 2019  

COINage February 2019, Inside Look, First U.S. Silver Coins, Scott Travers' Top 12 Coins for 2019, And More......