The sight-unseen market is fairly robust, up 14% from one year ago with $1.23 million in trades through CCE since the year began. Generic Gold Type and common date Morgan and Peace Dollars make up most of the action, as has been the case for some time now. However, this week, quite a few Silver Commems changed hands including a number of PCGS Plus grades.
     A flurry of higher sight-unseen Bids for Silver Commems injected some positive energy into this segment. Antietam examples in MS65 and MS67 were among those getting a fair boost, as Bid for those in the latter grade increased by 8%, and Spanish Trails in MS63 thru MS66 are appearing less precarious after sustaining losses during the past two weeks. Booker T. Washington 1950 PDS Sets in PCGS MS67 increased $100. These Sets, of which only two can be assembled, have been steadily rising since early last June, and are up now by a hefty 22% since then. However, Bids for a number of CAC approved issues, especially Gem Texans, are drifting lower for the second straight month. Within Gold Commems, Pan-Pac Dollars in PCGS MS63 posted a $10 decline, while 1903 McKinley $1 examples in MS65 CAC are $100 lower since we began publishing CAC/Plus sections last November.
     Buyers for S-Mint Morgans (1879-1882) in MS66 are back and are willing to pay $290 sight-unseen as they were at the end of last year. New Orleans minted 1904-O issues in PCGS MS66 are down once more, resulting in a cumulative decline of 24% for these cartwheels since mid-May, when they were Bidding sight-unseen for $380. Another 1921 Chapman Proof Morgan is up for grabs through the Goldberg’s Pre-Long Beach auction, this one graded PR64 by NGC, and a splendid 1921 business-strike Morgan graded MS65DPL by NGC, one of only seven specimens graded as such by both services with none finer, is sure to set the stage on fire with heated Bidding during this event. First year of issue Peace Dollars in PCGS MS64 lost 8%, while Bids for the common dates in MS66 all shed $30 this week.
     CAC approved Classic Head Large Cents in MS64BN thru MS66BN are 15% higher on average since last month. Some negativity arose within the remainder of the Mint State Type segment, particularly among a few varieties of Liberty Seated Dimes within the NGC MS61 and MS64 grade range. Barber Dimes in PCGS MS64 gave back nearly all their gains from last year with a $30 drop this week, and comparably graded Barber Quarters are reduced by that same amount. Three Cent Nickels graded PR66 by NGC can’t seem to maintain steadiness, fluctuating these past few weeks only to fall back by 10% since late December. Barber Quarters graded PCGS PR64 slid further this week as well, and are down by 7% to a Bid of $775.
     It was an ugly week for the Buffalo Nickel segment, which is experiencing quite a bit of carnage due to highly disappointing auction activity. Sharp declines resulted again for a number of issues, largely in the MS66 column. The bottom seems to be falling out from under those 1923-S issues, which sustained a double-digit Bid reduction for the second straight week, and are down by 21% in just a two week period, while 1925-S issues tumbled by an average of 15% this week alone.
     Common date Mercury Dimes in MS66FB and MS67FB are benefiting from greater demand by way of higher sight-unseen Bids, while a few slightly better dates in these grade columns are in moderate decline. PCGS graded 1938-S in MS67FB fared poorly again during recent auction activity, losing 21%. Goldberg’s Pre-Long Beach auction will feature a very scarce and pretty 1918-D, graded MS65FB by NGC. This coin has a combined pop of just 27 with only 3 finer, less than half that of a comparably graded 1916-D, and Bids for nearly three and a half times less.
     Officials from eBay met with PNG dealers at the FUN show in Orlando to establish policies to ensure the coin buying experience on the site remains an effective destination. One of the first updates as a result of this collaboration is to ban the listing of coin copies and replicas, beginning February 20. This is the first of a multi-step process to alleviate counterfeits that reportedly involves the Secret Service. Coins listed on the site were clearly pictured with the word “COPY” stamped on it, yet the delivered coin, often sent from China, would not, and therefore be considered an illegal counterfeit.
     The Long Beach Expo is up next, scheduled for February 2-4, with an auction by Heritage. Ira and Larry Goldberg will hold a Pre-Long Beach sale in Los Angeles, January 29-31 (see a few of the many highlights herein).

Reprinted from Issue No. 3 January 20, 2012 of the Certified Coin Dealer Newsletter - the Bluesheet
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