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| Rare coins increasing in value 25-50 percent |
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Some of the world’s most valuable rare coins have increased in value by an estimated 25 to 50 percent the past year, according to rare coin market experts who compiled their second annual reference guide of multi-million dollar numismatic treasures: the 2011 Professional Coin Grading Service (PCGS) Million Dollar Coin Club.
There are now 235 historic U.S. coins valued at $1 million or more that are in private collections or museums, and the total combined value of those 235 is now estimated at more than $548 million.
“The increasing value of ultra-rare coins shows the strength of the market for truly rare, historic U.S. coins, and is also helped more than a little by the strength of the gold and silver bullion markets and the general weakness of the U.S. dollar,” said David Hall, president of Collectors Universe, Inc. of Santa Ana, Calif.
The most valuable United States coin listed is the Smithsonian’s 1849-dated Double Eagle $20 denomination gold piece. This unique coin was struck by the United States Mint in Philadelphia during the early days of the California Gold Rush, and it jumped from an estimated $15 million last year to $20 million now.
“It was only 15 years ago that a coin first broke the million dollar mark at auction. That coin is the finest of only five known 1913 Liberty Head nickels, and in 1996 it sold for $1,485,000. It now is valued at $4,500,000,” explained Hall.
The 2011 PCGS Million Dollar Coin Club listing was compiled by Hall and Ron Guth, president of PCGS CoinFacts, in consultation with four other well-known professional numismatists: Jim Halperin, co-chairman of Heritage Auctions, Dallas, Texas; Kevin Lipton, president of Kevin Lipton Rare Coins, Beverly Hills, Calif.; Greg Rohan, president of Heritage Auctions; and Laura Sperber, president of Legend Numismatics, Lincroft, N.J.
“We certainly had a lot of fun putting this list together for the benefit and enjoyment of collectors and dealers,” said Hall.
Based on their professional opinions and recent sales, here are the experts’ top 10 most valuable coins struck by the United States Mint, their grades (state of preservation on a 1 to 70 scale) and their year-ago values if they changed:
•1849 $20 Liberty (estimated grade Proof 64) – $20 million (last year listed at $15 million). The first $20 gold piece struck at the United States Mint is part of the National Numismatic Collection at the Smithsonian’s National Museum of American History. It will be exhibited in Chicago in August at the World’s Fair of Money sponsored by the American Numismatic Assoc.
•1907 Indian Head $20 Saint-Gaudens gold pattern (estimated grade Proof 69) – $15 million. Now in a private collection, this unique gold pattern was designed by famed sculptor, Augustus Saint-Gaudens, and combines his $10 Indian Head obverse design with his $20 reverse design.
•1877 $50 gold pattern J-1546 (estimated grade Proof 67) – $15 million ($10 million last year). The famous “Half Union” gold piece is unique and in the Smithsonian.
•1877 $50 gold pattern J-1548 (estimated grade Proof 67) – $15 million ($10 million last year). A variation on the design of the other “Half Union,” this coin is also unique and in the Smithsonian.
•1907 Double Thick Extremely High Relief Saint-Gaudens $20 (two coins, both estimated grade Proof 69) – $8.5 million each. Arguably the most beautiful coin ever made, the Double Eagle designed by renowned sculptor, Augustus Saint-Gaudens was struck in several variations including two examples that are smaller in diameter and with double thickness. Both are in the Smithsonian.
•1794 Silver Dollar (graded PCGS Specimen 66) – $7.850 million ($5 million last year). In a private collection, this is believed by some experts to be the very first silver dollar struck by the United States Mint.
•1804 Class I (“Original”) Silver Dollar (graded PCGS Proof 68) – $7.5 million. Privately owned, this is the finest of the 15 known, famous 1804 silver dollars. It was originally given to the Sultan of Muscat in 1836 as a diplomatic gift on behalf of President Andrew Jackson.
•1804 Class I (“Original”) Silver Dollar (graded PCGS Proof 67) – $6.5 million. Privately owned, it is part of a set of coins originally given to the King of Siam in 1836 as a diplomatic gift on behalf of President Andrew Jackson.
•1822 $5 gold piece (estimated grade Extremely Fine 45) – $6 million.
In a private collection, this is one of only three surviving 1922 Half Eagle gold coins out of 17,796 struck. The other two specimens are in the Smithsonian.
For more details, call 800-447-8848 or visit PCGS online at www.PCGS.com/ million-dollar-coin-club |
| 3/2/2011 |
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