1895 50C PR68 Cameo PCGS. CAC
By Legend Numismatics ……….
Last week we briefly commented about how Sothebys and Christies rang up around $2 BILLION dollars in art sales in a week. Plus, a few big diamonds traded for tens of millions each, while rare high end cars kept up their frenzied climb.
This all relates to coins because it proves the market for collectibles is alive and well. Collectors are willing to spend when the “right” items appear. Just like in the coin market, Sothebys had the Taubman collection (probably the equivalent of the Pogue Collection) worth $750 million dollars which brought the big buyers out of hibernation. Not only did it sets records, but it stimulated the market. Just like with the coin market, the majority of the art from that collection is now in private hands. You certainly do not see any of the great Pogue coins lingering at shows or in auctions.
While the coin market is much smaller, its not really much different in its behvaior. So many great coins are off the market in strong hands, whats left is dreck, retreads, or boring coins. Its forces the market to semi decline when nothing of great interest is offered. The real money does pop up for the great rarities and high quality pieces when they surface. Look at the $1 1894 PCGS MS66+ CAC Coronet Morgan Legend Auctions sold in October. It realized a staggering $141,000.00! When the Coronet collector bought the coin back in 2009 for $82,500.00 he was not so sure how he would do with it. Like in the art, precious GEM, or car markets, the real money is there, the items just have to be worthy and fresh.
Making major purchases in choppy markets like this of the “right” coins (like a $1 1894 PCGS MS66+ CAC) and holding them a significant time-WILL yield remarkable results. Paying a strong premium today is insignificant if you buy right. This has been proven in all collectibles markets time after time. Gardner, Pogue, Eliasberg, Pittman, and Norweb are firm proof.
We have tried to figure this many times: WHY HAS THE MARKET MADE THEM SO CHEAP? They have been our #1 pick for a few years now. They are a great series. You can buy really pretty pieces. The majority have mintages of LESS then 1000 with pops per coin of LESS then 50. There are no “break the bank” high priced pieces.
There is only moderate difficulty in building a full set of PR64-67 pieces in all denominations. Its certainly not like trying to build a GEM Peace Dollar set or even PR Liberty Nickel set (much higher mintages). We think if your looking for a neat set to build, think PR Barbers-ANY denomination!
Here are a few approximate costs if you were to do and all PCGS CAC set:
- 10C PR65 SET $27,00.00-$30,000.00
- 25C PR65 SET $48,000.00-$50,000.00
- 50C PR66 SET $100,000.00-$115,000.00
With PR Barbers there are many different entry points you can build sets at for BELOW $50,000.00! And if you up it to $100,000.00-you can do a nice GEM set of ALL the denominations (including throwing in some cameo coins)!
We still HIGHLY recommend MS 64 and higher Gold Type sets. Buy ONLY PCGS CAC coins!
To view the entire Market Report – Please click Here