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This colorful 1962-D Washington quarter dollar graded Mint State 67 by PCGS sold for an astounding $18,400 during Heritage’s auction at the CSNS convention. The coin is a common date but is conditionally rare.

By Steve Roach – www.steveroachonline.com - First published in the May 14, 2012, issue of Coin World The just-completed Central States Numismatic Society convention represented a busy week for the rare coin market. On April 17 at the show, the Professional … Continue reading →

Cahn International sells top quality examples of ancient art. Its booth at TEFAF is representative of the museum-like presentation that characterizes the show. Among the highlights was a PCGS Mint State 67 red 1955 Lincoln cent, formerly in the Jack Lee Collection, with a PCGS population of just 14 coins and zero finer, that realized $4,900. For contrast, a PCGS MS-66 red example of the same date sold for just $65 on eBay in March. In January, at the Original Hobo Nickel Society’s sale, held at the Florida United Numismatists convention in Orlando, an Indian Head 5-cent piece carved by Bert Weigand sold for $13,750. Image courtesy of Original Hobo Nickel Society Buyer’s fees are a fact of life when buying at auction. While a seller typically pays a fee to an auctioneer for including a coin in an auction, increasingly auction houses are raising buyer’s fees as a way to increase revenue. Stack’s Bowers Galleries announced on Feb. 27 that it would be updating its buyer’s fee schedule effective with its Baltimore Auction on June 25. The new buyer’s fee will be set at 17.5 percent of the hammer price — or the price that the auctioneer says before he or she says, “Sold!” For invoices totaling $50,000 or more of the hammer price, the buyer’s fee will be reduced to 15 percent. The firm will also charge a $15 minimum buyer’s fee per lot. The accompanying press release stated that the increase was “in keeping with current industry trend” and allowed the firm to continue to provide buyers “with ever-increasing auction opportunities and outstanding service.” For comparison, Heritage Auctions has a buyer’s fee of 15 percent for U.S. coin and paper money auctions with a minimum buyer’s fee of $14 per lot while Goldberg Auctioneers has a 15 percent buyer’s fee. In the online auction arena, Teletrade typically imposes a flat 15 percent buyer’s fee with an $8 minimum per lot and GreatCollections has a buyer’s fee of 10 percent with a minimum of $5 per item. Historically, major auction houses have followed one another when increasing premiums. When buyer’s fees of 10 percent were first implemented by Christie’s in 1975, Sotheby’s followed shortly after. The buyer’s fees at coin auctions still have room to rise if the premiums associated with fine art auctions provide any indication. For example, at Christie’s New York, the buyer’s fee is 25 percent for the first $50,000 and then drops to 20 percent up to $1 million, after which it is 12 percent. Typically, post-auction prices realized released by auction houses include the buyer’s fee as this represents the price that a bidder ultimately paid for an item. The end result of increased buyer’s fees is that bidders adjust their bids accordingly, planning for the higher buyer’s fee when deciding what to bid. In a competitive auction market, higher buyer’s fees also give auctioneers greater flexibility to discount seller’s fees to attract consignments.

The Rare Coin Market Report

This colorful 1962-D Washington quarter dollar graded Mint State 67 by PCGS sold for an astounding $18,400 during Heritage’s auction at the CSNS convention. The coin is a common date but is conditionally rare.

A busy CSNS convention; PNG OKs ‘coin doctoring’ definition

By Steve Roach – www.steveroachonline.com - First published in the May 14, 2012, issue of Coin World The just-completed Central States Numismatic Society convention represented a busy week for the rare coin market. On April 17 at the show, the Professional … Continue reading →

Cahn International sells top quality examples of ancient art. Its booth at TEFAF is representative of the museum-like presentation that characterizes the show.

A very different kind of show: Annual TEFAF sells luxury, rarities

(First published in the April 30 issue of Coin World) TEFAF — The European Fine Art Fair — held in Maastricht, a sleepy yet cosmopolitan city in the Netherlands, celebrated its 25th anniversary March 15 to 24. The show is … Continue reading →

Among the highlights was a PCGS Mint State 67 red 1955 Lincoln cent, formerly in the Jack Lee Collection, with a PCGS population of just 14 coins and zero finer, that realized $4,900. For contrast, a PCGS MS-66 red example of the same date sold for just $65 on eBay in March.

Top Lincoln cents on eBay: Big prices in dual-brand auction

(First published in the April 23 issue of Coin World) – In an interesting exercise in co-branding, David Lawrence Rare Coins and eBay together promoted the Presidential Collection of Professional Coin Grading Service Graded Lincoln Cents. The collection — which … Continue reading →

Steve Roach and the Art of Law

Cahn International sells top quality examples of ancient art. Its booth at TEFAF is representative of the museum-like presentation that characterizes the show.

A very different kind of show: Annual TEFAF sells luxury, rarities

(First published in the April 30 issue of Coin World) TEFAF — The European Fine Art Fair — held in Maastricht, a sleepy yet cosmopolitan city in the Netherlands, celebrated its 25th anniversary March 15 to 24. The show is … Continue reading →

The 1793 Flowing Hair, Chain, With Periods cent, top, and 1829 Capped Head, Large Date gold $5 half eagle, bottom, each sold at auction for $1.38 million.

1793 Chain cent sets record for any U.S. cent at $1.38 million

Two early United States coins with provenances that trace them back to legendary collections broke the million dollar barrier when they crossed the auction block in Orlando, Fla., during an auction at the Florida United Numismatists convention.  (This article first … Continue reading →

1936 Long Island Commemorative Half Dollar

Making sense of retail vs. wholesale coin pricing

Collectors are often confused about the difference between retail and wholesale pricing. Coin World’s Coin Values reports retail prices — the prices that collectors may expect to pay for coins when purchasing them from dealers. We get these retail prices by … Continue reading →