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PRELIMINARY REPORT FROM PRE-LONG BEACH
wondercoin
Posts: 16,688 ✭✭✭✭✭
As with my St Louis report, my comments only pertain to the areas of the market I personally observed. These comments pertain to the Goldberg and Superior sales. I welcome others to chime in with reports of the other segments of the market.
HALF CENTS / LARGE CENTS: I can not comment on the prices realized, as I do not closely follow the markets, but, what I can tell you is the auction room was packed with dealers and collectors competing for these coins. I would not be surprised if this area of the market sizzled in the sales.
INDIAN CENTS / LINCOLNS: My impression was what I had seen in St Louis. Great coins (the few there were) commanded super money and the vast majority of the average coins were luke warm. For example, the 1942 pattern Lincoln cent commanded nearly $50k with the juice and a 1944 steel cent in MS62 commanded close to $43k. Great prices no doubt. I bought a 1909SVDB in PCGS-MS66RD for inventory for under $10k with the juice, which I thought was very reasonable. But, many Lincoln cents in average quality did not perform nearly as well. And, a recycled 1909(s) Indian cent in PCGS-MS66RD I believe commanded far less than when it recently sold at the prior auction.
SHIELD / LIBERTY NICKELS: I did not see what the 1867 RAYS sold at - perhaps someone can comment.
BUFFALO NICKELS: Appeared on fire again. Frankly, one of the strongest segments of the Goldberg auction I believe.
JEFFERSON NICKELS: The Benson nickels performed poorly, in part I believe to exceedingly high reserves. For example, a large run of 1943(p) nickels in PCGS-MS67FS were in the auction and nearly none sold (other than a very high end example or two). However, the coins were reserved for close to $1000/coin, while the market on these coins is more like $500-$750 right now. Bulk lot after bulk lot of common Jeffs went unsold, but, again, I believe reserves played a large part. Additionally, there were very few important Jeffs. in the sale, so no one really came out for them. Overall, a real dissapointment, as I had planned to spend a great deal of money on bulk lots of collector coins and came away with very little (although I probably won as many Jeffs in the sale as anyone).
MERCURY DIMES: I believe the coins suffered the same fate as the Jeffersons.
ROOSEVELT DIMES: There were very few in the pre-sale.
SLQ: Not very impressive action and frankly, the neatest SLQ coin in the sale, a 1928 SLQ in NGC-MS68FH from the Knoxville collection went for a song (which I was able to buy for a customer).
WASHINGTON QUARTERS: Again, very few in the pre-sale.
FRANKLIN HALVES: Strong. A 1959(p) in PCGS-MS66FBL sold for solid money and a 1956(p) NGC-MS67FBL did extremely well as well. The color coins in MS66FBL also did just fine. A solid area of the market these days to be sure.
PROOF KENNEDY HALF DOLLARS (Bear's collection): My impression (and Abe can comment himself) was that the collection performed fair to poorly. Many coins appeared to either sell at around 1/2 the opening bid (the least the Goldbergs will sell a coin for) or not sell at all. There were really no battles for most of the coins. Even the low pop coins got little action and collectors of this series were really able to fill holes at relatively great prices. I could discuss many coins in detail, but, again, I do leave it up to Bear to comment on his own impressions of the sale of his collection.
MORGANS - Can anyone fill in here?
SILVER COMMEMS: Typical - great coins command great prices, average coins command average prices. There were not that many "great coins", but they did fine. An NGC-MS67 Lafayette commanded over $80k with the juice (former PCGS coin). I believe a decent Bay Bridge in NGC-MS68 also broke $10,000 with commish. Less than stellar coins commanded close to Blue sheet from what I noticed.
PATTERNS: ON FIRE! One of the hottest areas of the coin market today. Dealer and collector alike were stretching to buy nearly every coin. And, all areas of the pattern market were doing well. Pattern cents, nickels, standard silvers, you name it!
Overall, my impression was it was a "mixed bag" with many coin series doing very well and other series doing average at best. Anyone else - please join in if you can comment on a particular series.
Wondercoin
HALF CENTS / LARGE CENTS: I can not comment on the prices realized, as I do not closely follow the markets, but, what I can tell you is the auction room was packed with dealers and collectors competing for these coins. I would not be surprised if this area of the market sizzled in the sales.
INDIAN CENTS / LINCOLNS: My impression was what I had seen in St Louis. Great coins (the few there were) commanded super money and the vast majority of the average coins were luke warm. For example, the 1942 pattern Lincoln cent commanded nearly $50k with the juice and a 1944 steel cent in MS62 commanded close to $43k. Great prices no doubt. I bought a 1909SVDB in PCGS-MS66RD for inventory for under $10k with the juice, which I thought was very reasonable. But, many Lincoln cents in average quality did not perform nearly as well. And, a recycled 1909(s) Indian cent in PCGS-MS66RD I believe commanded far less than when it recently sold at the prior auction.
SHIELD / LIBERTY NICKELS: I did not see what the 1867 RAYS sold at - perhaps someone can comment.
BUFFALO NICKELS: Appeared on fire again. Frankly, one of the strongest segments of the Goldberg auction I believe.
JEFFERSON NICKELS: The Benson nickels performed poorly, in part I believe to exceedingly high reserves. For example, a large run of 1943(p) nickels in PCGS-MS67FS were in the auction and nearly none sold (other than a very high end example or two). However, the coins were reserved for close to $1000/coin, while the market on these coins is more like $500-$750 right now. Bulk lot after bulk lot of common Jeffs went unsold, but, again, I believe reserves played a large part. Additionally, there were very few important Jeffs. in the sale, so no one really came out for them. Overall, a real dissapointment, as I had planned to spend a great deal of money on bulk lots of collector coins and came away with very little (although I probably won as many Jeffs in the sale as anyone).
MERCURY DIMES: I believe the coins suffered the same fate as the Jeffersons.
ROOSEVELT DIMES: There were very few in the pre-sale.
SLQ: Not very impressive action and frankly, the neatest SLQ coin in the sale, a 1928 SLQ in NGC-MS68FH from the Knoxville collection went for a song (which I was able to buy for a customer).
WASHINGTON QUARTERS: Again, very few in the pre-sale.
FRANKLIN HALVES: Strong. A 1959(p) in PCGS-MS66FBL sold for solid money and a 1956(p) NGC-MS67FBL did extremely well as well. The color coins in MS66FBL also did just fine. A solid area of the market these days to be sure.
PROOF KENNEDY HALF DOLLARS (Bear's collection): My impression (and Abe can comment himself) was that the collection performed fair to poorly. Many coins appeared to either sell at around 1/2 the opening bid (the least the Goldbergs will sell a coin for) or not sell at all. There were really no battles for most of the coins. Even the low pop coins got little action and collectors of this series were really able to fill holes at relatively great prices. I could discuss many coins in detail, but, again, I do leave it up to Bear to comment on his own impressions of the sale of his collection.
MORGANS - Can anyone fill in here?
SILVER COMMEMS: Typical - great coins command great prices, average coins command average prices. There were not that many "great coins", but they did fine. An NGC-MS67 Lafayette commanded over $80k with the juice (former PCGS coin). I believe a decent Bay Bridge in NGC-MS68 also broke $10,000 with commish. Less than stellar coins commanded close to Blue sheet from what I noticed.
PATTERNS: ON FIRE! One of the hottest areas of the coin market today. Dealer and collector alike were stretching to buy nearly every coin. And, all areas of the pattern market were doing well. Pattern cents, nickels, standard silvers, you name it!
Overall, my impression was it was a "mixed bag" with many coin series doing very well and other series doing average at best. Anyone else - please join in if you can comment on a particular series.
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
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Comments
Cameron Kiefer
There were some important Jeffs in the bunches. I picked up a 42 "D" over horizontal "D" in 1 lot along with a few other coins for $200. The 42 D/D is a tough coin to find, its a POP 5 in all grades at PCGS. I thought the Jeffs went cheap, the 43-P in 67FS stated the POP at 7 but its actually a POP 25 coin now. There were some bargains to be had if you watched but the internet sales went so fast it was hard to keep up with the pace.
Wondercoin
Yes, from the selling perspective they did perform poorly. I would imagine with a coin change in the future that people would start to stock up, but I guess not.
Tried to find the Lunch on Thursday w/o success. The folks at the Hyatt didn't know where it was and the PCGS folks at their table didn't know either (BJ). Where exactly is the Hyatt Buffet?? Sorry to have missed you all - next time, perhaps?? Sounds like it was a good time.
The lunch was at the Hyatt restaurant (downstairs).
Wondercoin