eBay Coin and Currency Dealer Newsletter - August 2012 ppt

eBay Coin and Currency Dealer Newsletter - August 2012 By Doug West Copyright 2012 Doug West Smashwords Edition Smashwords Edition, License Notes Thank you for downloading this free newsletter. You are welcome to share it with your friends. This newsletter may be reproduced, copied and distributed for non-commercial purposes, provided the newsletter remains in its complete original form. Thank you for your support. This newsletter provides insight into the eBay sales of U.S coins, world coins, U.S. currency, exonumia, and precious metals sold during August 2012. Contained in the newsletter is a snap shot of current sales prices and analysis of the items and identification of emerging trends. Reading this newsletter will help both buyers and sellers. The buyer becomes more informed about current pricing and makes better buying decisions. The eBay seller benefits by knowing current pricing and having insight into emerging trends that can positively affect sales. Most of the data and observations used in this newsletter come from two eBay Powersellers (eBay IDs: dwest61506 and jdwest07). The prices listed for sales are for the total price which included postage. Each section has a subsection titled "Selected Buy-It- Now sales". In this section I focus on items that actually sold in the Buy-It-Now (BIN) format. I do not bother to list other seller's BIN prices (items that haven't sold yet) on eBay as some of the asking prices are ridiculous. Each section also has a subsection titled "Selected Auction Results". Here a few specific auctions that are a bit out of the ordinary are reported on and discussed. The sections on U.S. Collector Coins, Bullion, U.S. Currency have subsections on "Average prices". This is a running average price over the last few months for commonly auctioned items on eBay. These are average prices and you will see specific auctions that close much higher and much lower than the average price listed. The newsletter also provides an "Overall Market Rating" for each area of coins and currency. This rating gives the reader some insight into which areas of the eBay market are changing and in what direction. U.S. Collector Coins – (Half Cents, Large Cents, Bust type coins, Seated Liberty type coins, Lincoln Cents, Indian Head Cents, Buffalo Nickels, Mercury Dimes, Barber Coins, Walking Liberty Half Dollars, Franklin Half Dollars, Morgan Silver Dollars, Peace Dollars,…). U.S. Collector Coins were rather dull in the month of August. Items sold at a rate typical for this time of year. August is traditionally a slow month for coins. See the Feature Article below which covers sales trends on eBay. Selected Buy-It-Now sales: 1912-S G Liberty Head Nickel sold for $135.00. Coin Dealer Newsletter (CDN) Bid price is $130.00. The 1912-S has the lowest mintage of the series (not including the 1913), however, the 1885 and 1886 command a higher price and are harder to find than the 1912-S. The Red Book price in Good is $175.00. 1805 G with medium 5 and stemless wreath Half Cent sold for $62.00. Of the original 814,464 minted it is estimated that approximately only 45,000 have survived. All half cents had low mintages for a coin used in general circulation and early problem free half cents can be a challenge to locate. 1939-D Reverse of 1940 PCGS MS64 Jefferson Nickel sold for $94.00. Approximately 75 percent of the 1939-D nickels minted have the reverse of 1940. 1907-O VF Barber Quarter sold for $37.00. 1857 VG Reeded Edge Capped Bust half sold for $57.00. 1842- O VG Seated Liberty Dime sold for $29.00. 1834 VF Capped Bust Half Dollar sold for $60.00. Selected Auction results: 1913 Type I AU+ Buffalo Nickel sold for $21.67. This is right at CDN Bid price. 1942-D AU Walking Liberty Half Dollar sold for $18.35. 1962 PCGS PR65 Franklin Half Dollar in an old green style PCGS holder sold for $51.01. The obverse of the coin had cameo devices and the reverse was not cameo. The combination of the old style PCGS green holder and the cameo obverse contributed to this coins selling for considerably more than the $16.50 CDN Bid price. 1936 NGC MS65 Cleveland Centennial/Great Lakes Exposition Commemorative Half Dollar sold for $105.80. CDN Bid for this coin is $125.00. This commemorative has a low mintage of only 50,030 (this is actually a fairly large mintage when compared to other commemorative coins from that era). A similar coin recently sold in a Heritage auction for $106.00. A large percentage of the Cleveland halves were saved at the time of release and they are relatively common in high grade, such as MS65 and MS66. 1936 NGC MS66 Daniel Boone Bicentennial Commemorative Half Dollar (see figure 1) sold for $204.20. In a recent Teletrade auction a similar coin sold for $253.00. This coin does have a low mintage of only 12,012. The Boone halves were struck from 1934 to 1936. The CDN lists a Bid of $950.00 for the three coin P,D,S set of 1936. In comparison to the Teletrade auction and the CDN price, this coin went cheap. 1918 NGC MS64 Illinois or "Lincoln" Commemorative Half Dollar sold for $166.00. This is $6.00 over CDN Bid. With a relatively large mintage of 100,058 coins this coin is one of the more common early commemorative half dollars. Most Lincolns didn't reach circulation and mint state examples are the norm. 1929-D NGC AU58 Walking Liberty Half Dollar sold for $255.09. CDN bid for this coin in AU is $150.00 and $325.00 in MS60 condition. Unlike some of the San Francisco issued Walkers, the 1929-D is normally found with a full strike. Average auction prices for commonly traded U.S. Collector Coins: Rolls of well circulated Indian Head Cents (problem coins) sold for $30.00. Rolls of full date Indian Head Cents grading Good or better sold for $54.00. CDN Bid is $60.00. Rolls of well circulated (problem coins) Liberty "V" nickels sold for $20.00 each. Rolls of full date Liberty "V" Nickels grading Good or better sold for $28.00. CDN Bid is $45.00 per roll. Buffalo Nickels with no or partial date visible sold in lots of at least 100 sold for $0.21 each. Rolls of full date Buffalo Nickels grading Good or better sold for $24.00 per roll. Average auction prices for 2012 U.S. Mint products: 14 piece clad proof sets sold for $40.00. 14 piece silver proof sets sold for $72.00. Mint set sold for $37.00. Presidential dollar proof set sold for $19.00. America The Beautiful quarters proof set silver sold for $40.00. Two piece 75th anniversary San Francisco proof American Silver Eagle set sold for $190.00. See the July Newsletter for a feature article on 2012 U.S. Mint products. Overall market rating: Stable. Figure 1 - 1936 NGC MS66 Boon Commemorative Half Dollar Bullion – Gold, Silver, Platinum, Palladium, and Copper – (90% silver or “Junk” silver, world bullion coins, silver bars and rounds, US gold – circulated pre-1933, and modern Silver and Gold Eagles). The month of August was a very good month for all the precious metals. Silver opened the month at $27.87 per troy ounce and closed at $30.52. Gold started at $1599.00 and finished at $1648.50 per troy ounce. Platinum was the big winner starting the month at $1394.00 and closing at $1517.00. Much of the big move in platinum was due to the mining strike in South Africa were 34 miners were killed by police. This strike does appear to be ending soon and could continue to cause upward pressure on the price of platinum. The move in gold and silver was attributed to a variety of factors, including the South Africa miner's strike, the decline of the U.S. dollar relative to other world currency, and the possibility of additional quantitative easing by the Federal Reserve. As usual, bullion related coins and products move up with the medals. Selected Buy-It-Now sale: 1988 Canada $5 Platinum 1/10 ounce Maple BU sold for $225.00. Selected Auction sales: 1997 China Panda 1/20 ounce gold 5 Yuan sold for $141.51 which was $57.00 over spot metal price. 2012 China Panda 1/20 ounce gold 5 Yuan (see figure 2) sold for $109.20. 2011 China 10 Yuan Silver Panda 1 ounce sold for $41.00. 2006-W Burnished $25.00 1/4 ounce platinum eagle in BU condition sold for $499.00. This was $112.00 over melt value at the time of sale. This coin is quite rare with only 2,676 minted. The Red Book price for this coin is $600.00. A lucky bidder got a good deal here. 2007 Canada $5 Silver Maple Leaf 1 Troy ounce sold for $47.00 (spot silver at $30.82). 1988 Australian Kookaburra 1 ounce silver Gem BU sold for $42.00 (spot silver $28.24). Average auction prices for commonly traded bullion and bullion related items: U.S. 90% silver coins commonly called "Junk" silver sold for 10% over melt. Rolls of 40% silver half dollars dating 1965 to 1969 sold for approximately their melt value. AG to Good common Morgan and Peace dollars sold for a 28% premium over melt value. Rolls of 35% Silver War Jefferson Nickels (1942 to 1945) sold for 3% below melt value. Common One Troy ounce 999 fine silver rounds and bars sold for 22% over melt value. Mixed lots of foreign silver coins sold for a 2% premium over melt. 1945 Mexican gold 2 peso coins sold for a 15% premium over melt. 1945 Mexico gold 2.5 peso coins sold for a 14% premium over melt. One tenth (1/10) ounce BU gold American Eagle coins sold for 21% premium over melt. 5 gram gold bars sold for an 11% premium over melt. The average prices listed above for both gold and silver items have changed little from last month. One pound of 999 fine copper (452.8 grams) bars in lots sold for $9.80. One pound Lincoln cents dating 1959 to 1983 sold in multi-pound lots went for $2.95. This is a little under the current melt value of the coins. Overall market rating: Stable to Strong. Figure 2 - 2012 China Panda 1/20 Ounce Gold U.S. Proof and Mint Sets 1950 to 2012 –Selected Buy-It-Now Sales: 1991-1995 World War II 50th Anniversary two coin Proof set with original box and Certificate of Authenticity sold for $52.00. The set features a silver dollar and a clad half dollar. Selected Auction sales: 1976-S 3 piece Silver bi-Centennial Proof Set sold for $20.00. 1976-S 3 piece Silver bi-Centennial Mint Set sold for $17.00. 1998-S Silver Gem Proof Set, 5 coins, original box sold for $25.95. CDN Bid was $22.00. 1997-S Silver Gem Proof Set, 5 coins, original box sold for $29.09. CDN Bid was $26.00. 1957 original Proof Set sold for $32.00. CDN Bid for this set was $25.00. 1962 original Mint Set sold for $50.00. CDN Bid for this set was $45.50. Overall market rating: Stable. U.S. Currency – (Regular issue U.S. Currency from 1880’s forward, Colonial, Confederate States of America, Military Payment Certificates, Fractional Currency, Depression Scrip, Obsoletes,…)The currency market has started to show signs of weakness. For the last several months currency has been selling at a good pace. This trend is starting to fade and currency is selling at a more normal pace. Selected Buy-It- Now sales: 1906 First National Bank of Eugene, OR (charter #3458) large size National Currency Note sold for $390.00 (see figure 3). The note was in VG condition. The Kelly book on National Currency reports there are 10 total large size bank notes known from this bank in three denominations. This note is rare. February 17, 1776 Continental Currency PCGS Fine 15 apparent (1/6) Dollar Note sold for $200.00. The reference book "The Early Paper Money of America" by Erick Newman, 5th edition, lists a catalog price of $300.00. One of the problems with colonial currency is the lack of up to date pricing information. The specialty edition of the Krause paper money catalog also has a section on colonial currency. This is another helpful reference when trying to determine the fair market price of a colonial note. Selected Auction sales: 1917 $1United States Note Red Seal in VG-F condition sold for $47.00. 1928 $10 Gold Certificate (FR#2400) in Fine condition sold for $68.00. This is exactly VG Bid in the CDN Green Sheet. 1929 $20.00 National Federal Bank Note, Atlanta, in VG-F condition sold for $33.00. 1929 $10.00 National Federal Bank Note, Kansas City, in VG-F condition sold for $25.00. Average auction prices for U.S Currency: Condition of the following is assumed to be VG or better unless indicated. 1899 $1 Silver Certificate "Black Eagle" sold for $58.00. The CDN Green Sheet bid is $65.00 for this note. 1923 Large Size Silver Certificate $1 sold for $22.00. 1935 $1 Hawaii Silver Certificate sold for $23.00. The CDN Green Sheet bid for this note is $30.00. 1935 $1 North Africa Silver Certificate sold for $35.00. The CDN Green Sheet bid for this note is $33.00. 1928 $1 Silver Certificate "Funny Back" sold for $17.00. 1935 to 1957 $1 Silver Certificates sold in lots for $2.60 each. The CDN Green Sheet bid for these common notes is $1.50 to $1.60 each. 1953 to 1964 $2 Notes sold in lots for $4.00 each. 1934 $5 Silver Certificate Blue Seal sold in lots for $10.00 each. 1934 $5 United States Notes with Red Seal sold in lots for $10.00 each. 1935 $10 Silver Certificate North Africa sold for $35.00. The CDN Green Sheet bid for this note is $32.00. Overall market rating: Weak to Stable. Figure 3 - 1906 First National Bank of Eugene, Oregon World Collector Coins – (Regular issue coins of the World (non-U.S.), most in circulated grades and priced below $200) – Selected Buy-It-Now sales: 1901 VG Canada 50 Cents sold for $90.00. The Standard Catalog of World Coins by Krause lists a price of $75.00. With only 80,000 minted this is a scarce coin and commanded a premium prices. 1916 Canada 10 cent sold for $19.00. 1904 VF Panama silver 25 Centesimos, KM#4, sold for $20.00. 1997 China Silver Panda 10 Yuan Gem BU sold for $89.99. Selected Auction sales: 1872-H Canada AU 25 Cents with light toning sold for $12.62. The Krause Catalog lists the price of this coin at $125.00 in XF and $550.00 in uncirculated condition. I don't have a reason why this one went for much below catalog price. Normally, Canadian coins sell for a much higher percentage of Krause catalog value. Someone got a good deal with this coin. 1813 Ireland 10 Pence Silver Bank Token Choice BU, S-6618, sold for $41.20. 1690 June Ireland Half Crown VF-XF "Gun Money", S-6580, KM#101 sold for $68.89. This is $3.89 over VF Krause Catalog value. Irish Gun Money issued by King James II is the only coin series that features both the year and the month of minting. The bronze Gun Money was essentially a loan to King James to support his war effort. The idea was that these bronze coins could be exchanged for silver coins plus interest at a future date. The term "Gun Money" comes from the belief that that source of the metal for the coins was from melted cannon barrels. Even though many of the issues have a low catalog price, all are considered scarce. 1925 Canada VG-F five Cent sold for $46.56. The 1925 is a low mintage date with only 201,921 minted (Note the Charlton Standard Catalogue of Canadian Coins lists a mintage of 200,050). The Krause value for the coin in VG is $65.00 and $80.00 in Fine. Rarer than the 1925 Canadian five cent coin is the 1926 far "6" five cent die variety (see figure 4). Exact mintage of this rare die variety is not known, however, studies have been done that suggest 135,000 examples were produced. At auction a Fine condition example sold for $102.22. The Krause catalog value is $175.00. Overall market rating: Stable. Figure 4 - 1926 Far "6" Canadian Five Cent Die Variety Exonumia - Tokens and Medals - (Trade tokens, Hard Times tokens, Civil War tokens, Transportation tokens, "Good For" Tokens, Space related medals, presidential medals, state centennial medals, California Fractional Gold …). Selected Buy-It-Now sales: 1884-5 Worlds Industrial and Cotton Centennial New Orleans Medal (see Figure 5) made from Brass sold for $45.00. The medal was in AU condition. 1939 Golden Gate International Exposition held in San Francisco, California sold for 27.00. 1861-1961 Dakota Territory Centennial Commemorative Half Dollar (38mm diameter) sold for $7.00. Selected Auction sales: 1939 Golden Gate International Exposition held in San Francisco, California sold for 27.00. 1795 Brunswick Conder Half Penny Token circulated sold for $9.00. 1847 Kingdom of Hawaii Hapa Haneri Token/coin sold for $5.00. The medal is made of brass and had a hole in the top. Overall market rating: Stable. Figure 5 - 1884-5 World Industrial Medal Market Ratings Definitions: Weak – noticeable decrease in activity and prices Weak to Stable – small decrease in activity in prices Stable – activity and prices are basically unchanged from the last few months Stable to Strong – small increase in activity and prices Strong – noticeable increase in activity and prices Feature Article: Monthly Trends in eBay Sales Like most markets and hobbies everything has its peaks and valleys and coin collecting is no exception. Building a collection of coins, currency, or precious metals is an indoor activity and Chart 1 supports this statement. The data presented in Chart 1 is the percent sold of eBay Buy-It-Now (BIN) items sold on a monthly basis. For example, if you had 100 BIN items on eBay during the month of January you would expect to sell 17 of these items. The sales results are averages from January 2008 through August 2012. December through March are the four strongest months for sales. December of course has to do with holiday season giving of gifts. January through March are colder winter months were individuals focus their attentions on indoor activities. Since eBay is primarily a northern hemisphere business we see the effects of the seasons in the sales data. In April the weather starts to warm and things start to slow. Collected coins and numismatic related items depends on individuals with discretionary income, that is, money you can spend and not have an impact on your normal monthly expenses. There are two months were discretionary income takes a dip and these are April and August. For Americans, April is the month when yearly income taxes are due and August is the month when the majority of children return to school. Speaking from experience, back to school expenses in August can put a dent in your extra money supply. Chart 1 clearly shows the slowing in April and the bottom of the market in August. As the weather cools collectors once again focus their attention on their hobby and the sales volume starts to build. Chart 1 - Rate of Buy-It-Now Sales by Month ### About the author: Doug West is the senior numismatist at the family owned business C&D Coins and Currency in Derby, Kansas. Doug has over four decades of experience as a coin collector and dealer. Doug is President of Wichita Coin Club, member of the American Numismatic Association, and Secretary/Treasurer of the Kansas Numismatic Association. He is author of several coin related articles and maintains the educational web site www.canddcoins.com. Discover other titles by Doug West at Smashwords.com: https://www.smashwords.com/profile/view/dougwestcoins . eBay Coin and Currency Dealer Newsletter - August 2012 By Doug West Copyright 2012 Doug West Smashwords Edition Smashwords. trends on eBay. Selected Buy-It-Now sales: 1912-S G Liberty Head Nickel sold for $135.00. Coin Dealer Newsletter (CDN) Bid price is $130.00. The 1912-S has