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Saturday, 19 May 2012

Values are Quietly Rising for Ultra Rare Coins

The rich are getting richer and they’re pushing values higher – sometimes much higher – for ultra rare coins.  It was back on July 7, 1989 that the first coin sold for the million dollar level – an 1804 silver dollar at $990,000, a coin that I have a vested interest in.  That was an exciting sale of a rare coin, one that made national news outside the hobby, but it just missed the million dollar mark by $10,000.

It took another seven years for the first coin to actually sell for more than $1 million – the Eliasberg 1913 Liberty nickel, at $1,485,000 on May 21, 1996.  Collector Bruce Morelan, who is publicly known to have owned examples of both of these rarities, told me several years ago that he’s observed that first one of the above coin issues sells for a record price, then it’s leapfrogged by the other, and so on.  And that’s just what we’ve seen.

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