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19th Century Type in Demand
By Harry Miller, Coins Magazine
February 07, 2014

This article was originally printed in Coins Magazine.
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Recently the Canadian government decided to melt 200,000 or so 1912-1914 $5 and $10 gold coins that have been stored in Bank of Canada vaults. This is after selling off several thousand coins in a lottery-type sale. This really is another example of Western nations disposing of hard assets as those in the Eastern world continue to accumulate real wealth.

I have updated the gold, silver and platinum Eagle and Buffalo coins. Premiums are slightly up, with platinum issues showing the most significant gains.

The market and collectibility of this series continues to grow because they only come in nice condition, so grading is not an issue. Values are easily determined and with one exception prices are affordable for the average budget.

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They also present the dual value of a precious metal and numismatic collectible. The 2008 silver Eagle with reverse of 2007 has gained again. There have been reports of rather good replicas of the 2006 20th Anniversary set purportedly coming from China.

There are many signs of increased demand and dealer bids for select 19th century type coins. What is significant is that they are scattered over various series and in most denominations. There is no apparent pattern.

This is a wonderful sign of broad interest and demand. The issues sought are rarely encountered and are very much underpriced.

The real significance is that these coins are rarely listed in dealer bids because you don’t get them anyway, and dealers would rather keep bids low and get the occasional bargain. Now there is active pursuit, which should lead to much higher prices.

 

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