May 2013 Catalog Sale Underway
Our annual mid year Catalog sale is underway. Sale runs from May 15 thru June 3. Terms are found on inside cover.
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Harry
2013 Presidential Dollars
William McKinley, first issue for the 2013 Presidential dollars offering is now available. Single coins are $1.95 and rolls (25) $39.95. Presidential Dollars can be reached by clicking "US COINS" and then "PRESIDENTIAL DOLLARS."
June Coin Market Commentary
Recently a comment was made that the Bernanke fiat currency
crusade is creating an asset bubble. There are many pros and
cons on that subject and I for one agree that we are in
dangerous uncharted economic territory. Thus far there has
been strong deflationary pressures in various sectors of the
economy to keep overall inflation of ordinary consumer
products in check or nearly so. But what of the less than
ordinary things people consume? If you compile your own
stats and ignore manufactured government data you find an
entirely different picture. Higher quality consumer products
with the exception of most electronics are up dramatically.
Housing is cheaper but if you want that special molding or
real wood cabinet’s prices are through the roof and the
stuff is often just not available.
The same is true for coins, ordinary consumer staples such
as Statehood Quarters; modern mint products including proof
and mint sets have experienced deflationary pressure. Also
in that same vein are the highly promoted speculative issues
of the last 100 or so years. Coins like a 1931S circulated
Lincoln cent or an 1894 circulated Morgan dollar and many
others. And while this is depressing as a collector one
should remember that even with downward adjustments of as
much as 25% most of these items are still 2 or more times
what they were 10 or so years ago.
However if we look at the other side of the coin we see an
entirely different picture good quality scarce or rare date
issues are dramatically higher and trending even more so.
Will this be a new asset bubble, no doubt at some point it
will, but I for one believe we are only at the beginning of
this phase. Evidence of this is all around us our recent
price charts put the 1796 quarter at over $400k in MS65.
Earlier this year we saw the first $10,000,000 coin sold at
public auction. The recent auction at the Central States
Numismatic Society Show saw a 1913 Liberty Nickel at nearly
$3.2 million. But more importantly was the fact that 3 other
coins in that same sale sold for over one million dollars.
It was not that long ago that we saw the first million
dollar coin and now to coin the phrase “they are getting to
be a dime, a dozen”.
Now this is all wonderful and if you have deep pockets you
can or have joined that party. The rest of us can take heart
as well though because most traditional collector coins are
doing well also. First if you have held any early pre-1820
issues in nice condition for the last 5 years you are
looking at 50 to 200% increases. All Barber coinage is up 25
to 100% in the same period. It was not that long ago a
common date Barber Half was around $200 in AU50 and now
dealers are paying $300 and up for them. Semi key Lincolns
while a little soft currently are still 2 to 3 times what
they were 10 years ago.
Weekly Coin Market Commentary
As the Dow and related equities markets rallied to new highs
precious metals again came under pressure and as I thought
they have broken from the recent trading range to the
downside. Platinum has attempted to hold ground now at 1.07
to 1 versus gold, this on continued mining and production
problems. At this juncture I would not buy gold, instead I
believe platinum has a better floor under it, that will be
important in the short run. Silver is also a better bet @
over 61 to 1 versus gold. I am not throwing in the towel on
gold but you must realize that the bears are in current
control and while things could quickly turn on a dime, it is
more likely this will play out over several months or a few
years. The Roman Empire did not come to its demise in a few
years it took over 100 years. The US dollar will not take as
long but it still has some legs thanks to the countries
debasing their currency as well.
Now precious metals may be soft, but silver dollars are not.
Last week at the ANA Show a large percentage of our sales
were Morgan dollars followed by Indian head gold. Circulated
Morgan dollars are not following silver lower, nor are Peace
dollars. If fact premiums have increased, the simple fact,
demand is outpacing supply. There seems to be a promotion on
New Orleans mint circulated issues with most at a slight
premium to the other generic issues. The 1880-O is up in all
circulated grades and is joined by the 1878-CC. this latter
date has been running up in mint state all year and it was
only a matter of time for the circulated grades to pop up.
Speaking of popping that’s exactly what mint state 1879CC,
1885CC, 1886O, 1892CC, 1892S, 1893S, 1994O, 1894S, 1895S,
and 1934S dollars did over the last few weeks.
There is life after death, this is being demonstrated by the
proof sets of the first half of the 1950’s decade, for the
first time in many many months they have become active with
positive price leanings. The proof set sector seems to be
ignoring lower silver as well with strong activity in recent
sets.
T
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read more of Harry's commentary click here to visit
Numismaster.com.
Tennessee Store
Family owned & operated since 1967
Full service dealership in Coins, Stamps, Currency, Precious Metals and Supplies
Miller's Mint Ltd.
200 E. Broadway Ave.
Suite 315
Maryville, TN 37804-5755
(865) 982-4420
(865) 268-2993 - FAX
Mon - Thurs: 10am - 5pm
Fri: 10am - 7pm
Sat: Closed
Sun: Closed
Bicentennial Medal Sets
We recently acquired a number of limited edition Bicentennial Medal sets, commemorating 50 great events in American Numismatic history. There were only 1,000 of these unique sets minted and at a recent show we came across them quite unexpectedly. So it's first come, first served...and we think they'll go quickly. If you are a numismatic history buff, these are definitely what you are looking for. Take a look at the picture, get 1 or better yet, buy 5 and give them to your collector friends for special occasions. Remember, when they're gone, they're gone.
Our low price is $19.95/ea or 5 for $79.95. The inventory item number are 207518 for the single and 207519 for the lot of 5.
Happy Collecting!
