Below are the Top 10 coins sold in the recent Heritage Long Beach, CA Signature sale. Prices realized include Buyers Premium.

1. 1808 $2 1/2 MS61 NGC - $163,875.00

The rarity of the 1808 quarter eagle is well known even to those who do not necessarily collect gold type coins. Struck in just this one year, only 2,710 pieces were minted and of that number it has been estimated that fewer than 2% exist today in all grades, with 35-40 pieces being a reasonable estimate of the surviving specimens. Breen speculates that the low survival rate may be due to the weak borders on all known coins which exposed them to undue wear. Every 1808 quarter eagle we have seen has had rim problems of some sort, probably due to the lack of raised detail evident around the margins. Also, all known examples show a die crack that extends from the cap through all six stars at the right.

Breen also points out that the date and letter punches used on the 1808 quarter eagle were reused on 1809 dimes. However, the bust and device punches were never reused. Typical for all of John Reich’s designs, the 13th star is notched, a “signature” of the short-lived German immigrant-engraver.

2. 1794 $1 VF30 PCGS - $161,000.00

When David Rittenhouse took over the responsibility as the Mint’s first Director, he had a twofold task to accomplish. The first was to begin production of silver coins, especially silver dollars, that would compare favorably in weight to the widely circulated Spanish (Carolus) dollars. Second, the coins had to present well. The dollars from 1794 all show varying degrees of weakness and misalignment because they were struck on a press meant for smaller coins. This weakness was noticed at the time of issue, but attributed to shallow engraving. But the experimentation had just begun with silver dollars, and in the next year the 1795 dollars show much coarser hair and heavier design elements on the reverse.

Even though all 1794 dollars were struck from misaligned dies, obvious attention was paid to the manufacture of these coins. Of the 125+ pieces known, there are five die states. This is a Die State III piece and is characterized by light relapping of the obverse die to lessen the clash marks that apparently occurred just after the first coins were struck. This is the most frequently seen die state and Martin Logies identified 84 different specimens from this state. (more…)

By Razi - Wizard Coin Supply
If you have a valuable coin collection or you aspire to build one, it is imperative that you take the necessary steps to protect your coins and, ultimately, your investment. Much damage that is done through improper handling or storage of coins can not be reversed. As a result, each passing year sees fewer and fewer original, problem-free coins remaining.

The incremental cost of quality hobby supplies and tools for the proper storage and handling of one’s collection is marginal compared to the value of the coins in the collection. While there are countless products on the market that claim to offer the best protection for your coins, we have identified what we believe to be the 10 best coin protection products available today.

10. Flat Clinch Stapler

– One big category of coin damage we see is from staple scratches. Much of this damage comes from staples that are not completely clinched. Normal staplers leave a curl of the staple rising above the surface. This piece of staple can easily scratch adjacent coins as the coin shifts in a box or is removed or inserted from the box. Flat clinch staplers fully compress the staple into the surface of the holder leaving nothing behind to damage other coins. We like the Max HD-50DF because it is full size and uses regular staples. Max also makes half strip and palm size versions for collectors that prefer a smaller stapler. All three staplers completely clinch the staple as part of the stapling process.

9. Gloves

– A second big category of damage type we see on coins is fingerprints. The oils and acids present on one’s hands can damage coins if left on the surface of the coin for an extended time. Initially, they can cause a fingerprint pattern toned area that is unattractive and lowers the value and grade of the coin. Left unattended, these oils and acids can eventually etch the surface of the coin making the fingerprint permanent. Even handling coins by their rims still allows the dangerous compounds onto the rims of the coins. Using a pair of soft cotton gloves when handling raw coins helps protect all three surfaces of the coins. Make sure you get a pair of thin gloves so that you can still feel the coin. Bulky “work gloves” make it harder to handle small items and increases the risk of dropping the coin.

8. Silica gel

– Metal and water do not go well together! Almost everyone intuitively knows to keep their coins from getting wet but many collectors do not realize that even the moisture present in the air (humidity) can be enough to cause damage. Silica gel absorbs moisture that makes its way inside your safe deposit box, safe or other storage area preventing it from reaching your coins and causing damage. Silica gel can be easily reactivated in the oven when it has absorbed as much moisture as it can hold. Before shopping for silica gel, measure the size of the area to be protected and then buy the appropriate size of silica gel for storage space. (more…)

Republished from Pinnacle Rarities

These strategies were composed upon considering the true case of two collectors, who in 1996, two collectors decided to assemble a million dollar collection of high grade United States coinage. Seven years later, both decided to sell. One now has a collection that is worth upwards of $2 million while the other individual’s coins are worth $600,000. What did collector #1 do that was so much smarter than the other? In the end, the difference was the way that they bought coins; there were a number of important purchasing strategies employed by the first collector that were ignored by the other.

Collector #1 did the following: he was patient, he chose his coins carefully, he was loyal, he was not a slave to published bid levels, he reached for the best available coins and he assembled a true collection as opposed to an accumulation. Collector #2 made rash, impulsive purchases, bought coins from a wide variety of sources (some reputable, some not), would never purchase a coin unless it was priced at a “bargain” level and wound-up with a strange, disconnected assemblage of coins rather than a true collection.

It is a good idea to look at some of these points more carefully to understand why one collector did so well while the other did not.

1. For the collector, patience is a virtue: One of the key reasons for the success of collector #1 was his patience. Instead of wildly charging out into the market and buying whatever looked interesting, he was highly selective. In fact, he typically purchased just a few coins each year. Collector #2 was extremely impulsive and purchased some coins that, in retrospect, made no sense. As an example, he bought at least three five-figure coins that he didn’t really like and which he knew, even at the time they were bought, that they would have to be upgraded. And he purchased some other coins that had absolutely no thematic tie-in to what he was collecting. These were quickly jettisoned at a significant loss.

2. Always buy the best coins you can afford: If you care about the financial returns provided by your coins (and if you are buying coins that are more than $1,000 each you should) then it is important to buy the best you can afford. A collection should be centered around quality instead of quantity. This means that you will have to tailor your collection around your budget.

3. Both collector #1 and collector #2 had the same budget but collector #2 wound-up buying dozens of coins while his counterpart only purchased a few. The result was that the first collector had a small collection of superb pieces with enough of a synergistic tie-in that it was more valuable as a whole than as a sum of its parts. The second collector had an assemblage of expensive coins that, because of the presence of a number of “dogs”, would have to be broken-up and sold piece-by-piece. (more…)