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Weekly Market Report: Major Auctions on the Horizon as Market Continues to Show Activity and Stability

Bruce Amspacher - November 13, 2001
  Here is one of the few examples of this off-metal rarity that is known to exist

"Return with us now to those thrilling days of yesteryear!" Those were the words that were heard every afternoon at 4:30 in the 1950s as the Lone Ranger came on TV. It is now only two weeks until more thrills from yesteryear will be offered, but this time it's rare Colonial coins from the 17th and 18th centuries. In one of the largest offerings of Colonials ever available at public auction, Bowers and Merena Galleries is selling hundreds and hundreds of lots of early Americana in The Collections of Phillip Flannagan, Dr. Robert I. Hinkley, Dr. John C. Wong and Tree Many Feathers sale. This monumental sale will take place November 29 through December 1 in Baltimore, Maryland, in conjunction with the Suburban Washington/Baltimore Coin Convention.

Colonial coins have been one of the strongest areas of the market in recent years, and this sale has whetted the numismatic appetites of collectors and dealers from around the country. Here are a few of the highlights:

1652 Pine Tree Sixpence PCGS MS64
(1659) Lord Baltimore Sixpence PCGS AU53
(1659) Lord Baltimore Shilling PCGS MS64
1760 Voce Populi Farthing PCGS AU58
1773 Virginia Halfpenny PCGS MS65BN
1776 Continental Dollar in Pewter PCGS MS63
1783 Chalmers Threepence PCGS MS63
1787 Fugio Cent with Club Rays PCGS AU58
1787 Nova Eborac Copper PCGS AU55
1787 New Jersey Copper PCGS AU58

This sale also features the Phillip Flannagan collection of Bust dollars, which includes the Amon Carter specimen of the 1804 dollar among many, many other highlights. To view the lots and/or to bid online, click here.

"Tree Many Feathers" Sale is also on the agenda.

There are two significant offerings of the Tree Many Feathers collection scheduled for Baltimore. In addition to the sale above, there is a marvelous selection of his coins in the Tree Many Feathers auction on November 28. Why have two sales from one major consignor at the same time? The first sale was originally to be held in New York City on September 15 of this year, but the auction was postponed due to the tragic events of September 11.

To view the outstanding selection of US Pattern coins, $20 gold pieces and much more from this sale, click here.

PCGS certifies several major off-metal rarities.

Do you have a 1999 quarter that looks like it was struck in gold? Well, it's not gold, but you'll think you've struck the precious metal anyway in case you locate one. In recent months golden colored examples from all five states (Delaware, Pennsylvania, New Jersey, Georgia and Connecticut) have surfaced. What is the story?

"These coins are beautiful!" exclaims Fred Weinberg, a veteran dealer and error coin specialist from Encino, California. "They're even more golden in color than the Sacagawea dollars. These quarters were probably struck from blanks that were punched from prototypes for the Sacagawea dollars. So far these errors are only known on the quarters and haven't been found on any other denominations. There are about 15 pieces known from all states combined and there's already a sales record in excess of $10,000."

Mike Byers of Lake Forest, California, also deals extensively in error coins and has made some interesting discoveries about these coins. "They've shown up in original bags, counting rooms and coin shows. They have a brassy golden color with four different compositions."

Four different? "One has the Sacagawea golden color with a copper core, another has the same color with no copper core, a third has a green color with a copper core and a fourth has a green color with no copper core," Byers explained.

Besides the color, what are the clues for spotting one of these errors? "They're overweight and thicker than the regular pieces," Byers said. "Besides that, they have a slightly rough edge and some have incomplete reeding."

Market remains active in modern issues, key rarities.

To check the pulse of the rest of the market I talked to Van Simmons of David Hall Rare Coins in Newport Beach, California. "There are so many factors that should point to a slowdown in the rare coin market, most notably the political and economic uncertainty, that it is quite reassuring to see all the activity that is going on," Simmons said. "The sub-$1,000 coins are selling as well as ever, and any coin that goes into a top PCGS Set Registry collection is also an immediate seller."

What about other areas? "Key coins in all price ranges are always in demand, whether they're silver dollars, Walking Liberty half dollars or gold type coins. If the threats of recession are as short-lived as the experts predict the market looks extremely promising for many years to come."

Bruce Amspacher has been a professional writer since the 1950s and a professional numismatist since the 1960s. He won the OIPA sportswriting award in 1958 and again in 1959, then spent eight years in college studying American Literature. This background somehow led him to become a professional numismatist in 1968. Since then he has published hundreds of articles on rare coins in dozens of publications as well as publishing his own newsletter, the “Bruce Amspacher Investment Report,” for more than a decade. His areas of expertise include Liberty Seated dollars, Morgan and Peace dollars, United States gold coins, sports trivia, Western history, modern literature and the poetry of Emily Dickinson. In 1986 he was a co-founder of the Professional Coin Grading Service (PCGS). Today he is a full-time writer for Collectors Universe.


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