Of the 1,105 gold dollar proofs struck in 1885, PCGS has certified a total of 107 submissions. That figure comprises all designations and almost certainly includes duplications. From among those 107 submissions, only 14 have received a Deep Cameo designation. Few match or exceed the quality of this outstanding Gem. The majority of known examples do not display any degree of cameo contrast, highlighting the utmost rarity of this offering. A thick coating of frost covers fully struck motifs, allowing for the appreciation of the bold contrast produced against the deeply reflective, glassy mirrors of this stunning representative. Opportunities to acquire a Deep Cameo example of the 1885 are extremely rare and not to be passed up. The PCGS population is just three with only two (PR67+’s) higher.
Offered at $33,150 delivered
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This is a complete, uniformly matched fifteen piece set of Indian quarter eagles from 1908 to 1929, including every date and mintmark issue. Each coin is certified as MS61 by NGC. Listed at $13,330 in the NGC price guide.
We have two sets available…
Offered at $11,950 each delivered
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A standard pattern for the past several years has been for the prices of precious metals to be suppressed in the 24-48 hours before the Federal Open Market Committee makes their announcements at the end of their meetings held every six weeks. The US government, through its primary trading partners and allied central banks, tried again this week.
This week, the FOMC held their two-day meetings on Tuesday and Wednesday and released their announcement at 2 PM Eastern Wednesday afternoon. The announcement left the federal funds interest rate unchanged, as was expected. However, the text included more than usual language stating that the Fed would consider more financial data than it has up to now in making interest rate decisions in future meetings. That can be interpreted as the US government saying that the economy is good now, but it is so weak that it wants to be able to cut the federal funds interest rate because the economy is declining.
Upon the release of Wednesday’s announcement, gold and silver prices took off. As I type this late Wednesday afternoon, the after-hours trading for gold is at $1,359.50 and silver is as $15.12. Gold prices are now up 6.8% since May 21, while silver has jumped 5.2%. This rise has occurred despite major short selling of paper gold and silver contracts on the commodity futures markets.
The price of gold has not closed at $1,360.00 or higher for three years. It has been more than four years since the US COMEX close exceeded $1,368.00. There is a major shortage of physical gold in the London and New York markets right now. Because of this, I think there is a strong prospect we could be near an upward breakout in precious metals prices.
In the meantime, the FOMC will not make another federal funds interest rate announcement until July 30, which will almost certainly be one of the most closely watched releases in recent months.
Patrick A. Heller was the American Numismatic Association 2018 Glenn Smedley Memorial Service Award, 2017 Exemplary Service Award 2012 Harry Forman Dealer of the Year Award, and 2008 Presidential Award winner. He was also honored by the Numismatic Literary Guild in 2017 and 2016 for the Best Dealer-Published Magazine/Newspaper and for Best Radio Report. He is the communications officer of Liberty Coin Service in Lansing, Michigan and writes Liberty’s Outlook, a monthly newsletter on rare coins and precious metals subjects.
Always important as final-year type in the transitional year when Robert Scot’s design was retired and John Reich’s Capped Bust Left design was introduced, the conditionally rare Bust Right half eagles are always appealing to type and series collectors. This example exhibits plenty of mint frost and in hand, is a bit lighter and brighter than seen in our images. Listed at $18,800 in the CDN CPG, $19,500 in the PCGS price guide and $20,000 in Trends.
Offered at $16,875 delivered
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Extremely well struck and (while not apparent in our images) attractively toned in shades of violet, turquoise and mint-green. The 1796 Draped Bust, Small Eagle dime is always in demand from type collectors and series specialists, alike. Aside from its status as the first year of the denomination, it garners special attention as the first year of a two-year design type, since the Small Eagle reverse was retired after 1797. NGC population of only 8 with 10 (including one PL) graded higher. Listed at $115,000 in the CDN CPG, $125,000 in the NGC price guide and $80,000 in Trends.
Offered at $64,650 delivered
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