It’s Auction Time For Gold Coins

It’s auction time for gold coins!

June 9, 2010 - Coin auctions in 2010 continue to show the strength of gold in the collectors market. An auction on May 30 in Los Angeles sold more than $2.5 million in coins, many of them rare and stunning gold pieces. Paul Song, the Director of Rare Coins and Bank Notes at Bonhams & Butterfields, noted that the success of the auction “attest[s] to the freshness of the material and strength in the U.S. market.” The signature piece of the Bonhams & Butterfields event was a highly coveted, spectacular example of one of an estimated 20 extant $10 1795 nine-leaf gold coins. According to the June 9 edition of artdaily.org, the $10 piece was estimated to sell for $70,000-80,000. Instead, it sold for $177,000, illustrating the fact that the gold coin market can still outperform for the right pieces.

At an auction in April 2010, Heritage Auction Galleries sold a 1921 gold coin — a Saint Gaudens Double Eagle — for $218,500. Another recent auction at Long Beach saw robust sales of gold coins. Even though some of the most famous collections did not grace the California event, prices stayed at an all-time high because of the heavy demand. World economic conditions seem to be steering investors towards more reliable assets.

Later this year, Heritage, the world’s largest collectibles auctioneer, will sell a large collection of regulated gold coins. American regulated gold is gold coinage from the early years of the republic. This gold was weighed and often stamped or plugged to adjust the weight to the coin’s true value. The venue for this sale is the Official World Coin Auction of the Boston American Numismatic Association World’s Fair of Money from August 8 to 16. This auction is expected to feature several items from the Edward Roehrs Collection of U.S. Regulated Gold.

Daily Updates Archive

Kevin Johnson

Senior Staff Writer - GoldCoin.net