gold coins

Rarest U.S. Coin Is Worth $20 Million

Filed under: Wealth

What is the most valuable United States coin? The coin, shown at right is the Smithsonian's 1849-dated "Double Eagle" $20 denomination gold piece. The unique coin was struck by the United States Mint in Philadelphia during the early days of the California Gold Rush. The Professional Coin Grading Service (PCGS) has rounded-up the 2011 PCGS Million Dollar Coin Club and their experts agree that this coin has gone up in value from an estimated $15 million last year to $20 million now. 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.

Here's a reason to start collecting, the group says that the most valuable rare coins have increased in value by an estimated 25 to 50 percent the past year. There are currently 235 historic U.S. coins valued at $1 million or more that are in private collections or museums (an estimated total combined value of $548.6 million).

"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 David Hall, President of Collectors Universe, Inc.of Santa Ana, California.

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, California; Greg Rohan, President of Heritage Auctions; and Laura Sperber, President of Legend Numismatics, Lincroft, New Jersey.

Tags: coin collecting, coins, gold coins, nickels, pennies, silver dollar

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Money Show Features Very Rare Gold Coin

by Deidre Woollard (RSS feed) —

Filed under: Events

World's Fair of Money, it has a lovely ring to it doesn't it? The annual show draws more than 1,000 of the nation's best coin dealers together to exhibit coins, paper money, medals, tokens and other numismatic items. The event takes place in Boston August 10 - 14, 2010 at the Hynes Convention Center.

The show is sponsored by the nonprofit American Numismatic Association and will also feature museum-quality exhibits from the Smithsonian Institution, the ANA Edward C. Rochette Money Museum and private collectors. One display will be
one of the three known proof 1804 Eagles made on behalf of President Andrew Jackson and a rare 1804 Eagle silver pattern which have been acquired by Legend Numismatics of Lincroft, New Jersey and sold to a Texas collector. Both coins will be publicly displayed together for the first time ever at the event.

"The 1804 proof gold Eagle is a classic American rarity and the silver pattern is an amazing companion to it. Both coins are now part of the incredible collection being assembled by Bob R. Simpson of Texas, a connoisseur of numismatic quality and rarity and a long-time client and friend," said Laura Sperber of Legend Numismatics (www.LegendCoin.com). The coins will be displayed at the Numismatic Guaranty Corporation booth (#704) at the show in the Hynes Convention Center.

The gold 1804 $10, graded NGC PF65 Ultra Cameo, was obtained by Legend from a private collector with the assistance of John Albanese of Certified Acceptance Corporation (CAC). The silver 1804 $10 (Judd-34), graded NGC PF64, was purchased from Steven L. Contursi, President of Rare Coin Wholesalers in Irvine, California. The purchase and sale prices were not disclosed for these transactions but the 1804 gold proof Eagle made headlines in 2007 when it sold for $5 million. It had sold for $1 million in 2003 and then for $2.47 million in 2005 so we can only assume another leap up in price. The Eagle coin is stamped 1804 but was created in 1834 at the Philadelphia Mint for Andrew Jackson as a diplomatic gift.

Tags: coins, gold coin, gold coins, numismatics, worlds fair of money

A Warning For Sellers Of Gold Coins

by Deidre Woollard (RSS feed) —

Our colleagues over at WalletPop recently mentioned some things you might need to know when looking to sell your gold. With the price of gold continuing to skirt $1,200 an ounce, there are reasons to be concerned about getting a top price, especially when it comes to gold coins. Gold coins may be worth far more than the mere weight on the scale. The Professional Numismatists Guild (PNG), a nonprofit organization composed of many of the country's top rare coin and bullion coin dealers, warns that some traveling gold buyers are offering pennies on the dollar for valuable gold and silver coins. In one instance, an out-of-town buyer offered only $60 for the rare 1925-dated Denver Mint $2.50 gold coin shown at right which was valued at $10,000 by PNG experts.

"Recent news media investigations conducted with the assistance of Professional Numismatist Guild member-dealers from Texas revealed that some traveling gold buyers who set up for a few days in a hotel, then move on to another town, sometimes offered as little as three percent of the actual value of coins they were offered. You may see bigger promises than payouts," said Robert Brueggeman, PNG Executive Director. "The scales used by some itinerant buyers to weigh gold jewelry may not even be lawfully registered with government agencies. That could result in inaccurate weight measurements to your detriment when you're selling gold jewelry for its melt value," said Brueggeman.

Brueggeman encourages those interested in selling gold or silver to prepare in advance and get multiple offers. He suggests consulting with local merchants who have a good reputation in the community. Some traveling buyers have lawsuits filed against them or are targeting areas of the country undergoing economic distress. PNG Executive Director Brueggeman emphasizes: "If you don't know coins, you'd better know your coin buyer." The PNG has a strict Code of Ethics for its members in the buying and selling of numismatic items. For additional information and the locations of PNG member-dealers, call (760) 728-1300 or visit online at www.PNGdealers.com.

Tags: gold coins, goog, numismatics, professional numismatists guild, selling gold, selling gold for cash

Rare Coins Up For Auction In Los Angeles

by Deidre Woollard (RSS feed) —

Filed under: Auctions

Recently I took a class in silver appraisal and learned a new term, toning, which refers to the patina of older coins. There are plenty of toned coins on display as part of Bonhams & Butterfields Los Angeles' Coins, Medals and Banknotes Auction on May 30, 2010. The auction features a diverse grouping of rarities, many of which are fresh to market.

Shown above is an extremely rare 1847 $1 Proof. It is estimated that only 20-30 Proofs were struck, meaning of course that far fewer are around today, lost to the swirls of time. The lot listing reports that a number of deceptive prooflike business strikes are known and so real proofs are highly prized. The coin is colorfully toned over both sides in shades of cobalt-blue, pale golden, and violet. It is estimated at $10,000-12,000.

Tags: coins auction, gold coins, numismatics, silver coins

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Why Do People Put Rare Coins In Salvation Army Kettles?

by Deidre Woollard (RSS feed) —

Filed under: Charity

It's a holiday phenomenon that warms the heart. Each December, the Salvation Army kettles and bell ringers come out and the stories of rare coins being dropped into kettles begin. So far this season I've watched them come in from Tennessee, Indiana, Washington and other places.

So what's the deal with all the rare coins? I asked Donn Pearlman, a spokesman for the Professional Numismatists Guild and a former Chicago journalist and broadcaster who reported over the years on many of the early gold coin donations to the Salvation Army about the annual appearance of gold coins in the collection kettles. He says that the tradition of people generously and anonymously putting gold coins into Salvation Army kettles began in December 1982 when someone placed five, one-ounce South African Krugerrands into a kettle at a shopping mall in the Chicago suburb of Crystal Lake, Illinois. Krugerrands or Canadian Maple Leaf gold coins subsequently were dropped into a kettle at that same location every December for the next five years, spurring stories about the phantom philanthropist and the Salvation Army's Christmas-time fund-raising efforts.

Tags: gold coins, GoldCoins, salvation army, salvation army charity, salvation army donation, salvation army kettle, SalvationArmy, SalvationArmyCharity, SalvationArmyDonation, SalvationArmyKettle

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Secret Note Prompts Treasure Hunt

by Deidre Woollard (RSS feed) —

Filed under: Wealth

I love a good treasure hunt and the AP has a great story of one that is going on in Illinois. Patty Henken bought an old rocking chair for $200 at an auction and when she removed the seat she found an envelope with "Finders Keepers" typewritten on it. Inside, a key was taped to a note which gave directions for finding a lead chest filled with gold coins buried underground. So far the treasure hasn't been unearthed but that's not for lack of trying. A search of the site, now a vacant lot, with a donated backhoe last week did not yield any major discovery, only a cistern with bricks and antique bottles. The note was signed by a "Chauncey Wolcott" and appears to have been written sometime after World War II since it says the chest "cannot be located by metal detector" and that is around the time that metal detectors first became popular. It could all be a hoax but Henken plans to dig at the site again. Here's hoping she finds something great.

UPDATE: Could this be a prank from beyond the grave? It turns out that the alias belonged to a notorious prankster.

Source

Tags: gold coins, GoldCoins, treasure hunt, TreasureHunt

The $2.16 Million Vienna Gold Coin Cake

by Deidre Woollard (RSS feed) —

Filed under: Dining

When we talk multimillion dollar edibles one place always takes the cake, Tokyo. We've seen a diamond fruitcake and a diamond chocolate but now this time it's all about the gold. The latest feat of culinary decadence is this Vienna Gold Coin Cake which is on display in a Tokyo jewelry store. The cake celebrates the 250th anniversary of the birth of Mozart. The four-level cake is worth $2.16 million and is covered with gold coins and gold leaf.

[via Food Mall]

Source

Tags: edible gold, gold, gold coin cake, gold coins, mozart, tokyo

Japanese Government To Sell Off Gold Coins

by Deidre Woollard (RSS feed) —

Now here's a way to reduce public debt. Reuters reports that Japan's Ministry of Finance will auction off gold coins from its collection online next February. Nearly 2,500 coins will be sold on a Yahoo Japan Corp. site from February 3-19. The Ministry of Finance has around 32,683 modern gold coins and plans to sell them off by March 2008. An auction of 1,037 coins in October brought in around $4.83 million for the public coffers. The money goes to the government's general account budget and though it is a drop in the bucket it sell helps bring down Japan's looming mountain of debt.

Tags: debt, deficit, gold, gold coins, japanese

gold coins

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