As noted above, Bass doubted the overdate status of this variety, but traditionally it has been considered one. Tradition often wins over reality and, as noted, this author and many notable others agree with Bass. There is something under the 9, but whether it is an 8 or remnants of an erroneously punched 9 is uncertain.

One interesting feature that has received scant attention is the large 9 punch employed on this die. It is much larger than the other digits. The partial numeral under the 9 does not seem to match the curve of an 8 or this 9. As with many other early gold issues, we sometimes have to draw the best conclusion that we can from the existing specimens. This work has kept the traditional moniker for this date of 1809/8/

Whether an overdate or not, this is a popular date and variety and one that draws a tremendous attention from collectors. As with many controversial issues in numismatics, this can prove to be a driving factor in demand.

The population of this coin in MS64 is listed as 61, but certainly there are many resubmissions in this number as is probably the case with the 13 MS65 examples. To date the finest is a lone MS66 by PCGS. Only 21 appearances are listed of MS64s and 5 MS65s in the auction record since 1990.

Two MS64s have appeared in 2011 and have an average priced realized of $62,006. The last MS65 to appear was in May 2010 and realized $77.050.

These prices realized provide ample confirmation that the specimen offered here at only $60,000 is an exceptional value.

In August 1885, the Carson City Mint produced 28,000 Morgan dollars, the final installment of the 228,000 coins minted that year. It would be another four years before that facility struck another Morgan dollar. In October 1889, the wild-west town named Carson City, born as a result of the discovery of the Comstock, produced its next quantity of silver dollars minting just 350,000 coins. Due to the low survival rate of high quality specimens known today it seems the vast majority of those minted were paid out and entered into circulation. The result of that activity is a plentiful supply (for a price) of worn examples. A second result is a lack of available high end mint state specimens. Beginning in the early 1930s, the Treasury paid out individual pieces and small groups, but never any large quantities or bag lots. It seems that those quality pieces available today have these payouts as their source.

As one of the top Morgan dollar rarities, the 1889-CC is desirable in all grades as indicated by the fact that even a low end XF will cost you several thousand dollars. As a major rarity for the series, the 1889-CC has perhaps been a bit over promoted in the past for lower quality coins, but remains under appreciated for its near impossible availability in gem grades like the coin offered here.

Amazing 1889-CC Morgan Dollar Rarity

The surfaces on this coin are extraordinarily clean with only a few tiny blemishes on either side. The luster has the satiny texture that is invariably seen on 1889-CC dollars, although it is not proof-like as often encountered. Well struck, each side is free from any trace of color or distraction.

Extremely rare as a Gem, with just four other MS65 examples certified by NGC, including one proof-like example, and one other amazing coin graded MS67. Comparatively, PCGS has certified a single MS65 and one MS68. The present coin ranks among the top eight NGC or PCGS certified examples of the issue, providing an incredible opportunity for the advanced Morgan dollar or ultra-rarity collector.

A quick study of auction records confirms the rarity of high quality examples. There are only four MS65s listed in the Auction Prices Realized charter during the past decade. The first two were in 2005 and they have an average price realized of $195,500. The other two coins sold, interestingly enough, during worst six months in modern economic times, one in 2008 at the onset of the meltdown and the last in January 2009. Despite the turmoil of what some consider the worst economic crises in United States history, they still had an average realized price of $270,000. This represents a better than 10% increase per year over that four year period even with the economic panic. Despite the fact that the economy was on the skids, I find it interesting that when real estate, stock valuations and many other assets were collapsing in price these extremely popular ultra- rarities actually increased.

If you extrapolate the average price increase from 2005 to 2009 of approximately 10% and apply it to the time period of 2009 to 2011 then the example should be priced somewhere between $325,000 - $350,000. Further, leading price guides published by Coin Values/Coin World Magazine lists this amazing rarity at $350,000 and Numismedia lists it at $362,500.

This wonderful MS65 specimen is proudly offered at $335,000.

Response: Buffett's comment may be incorrectly interpreted by some as being completely anti-gold.  Actually, he was implying that gold doesn't produce anything the way businesses generate goods or services or cash flow.  He's wrong.  Gold certainly does produce jobs for the mining and jewelry businesses, and gold is a critical component in some manufacturing.  Even if you think Buffett's "doesn't produce anything" comment is an anti-gold investment criticism, consider this: gold has risen nearly six-fold in a decade compared to a roughly 75% rise in shares of Buffet's holding company, Berkshire Hathaway. Gold has actually produced monumental gains for investors.

Criticism: If gold is such a good investment, why are people being encouraged to cash in their gold by a variety of cash for gold operations?

Response: Cash for gold operations have received greater exposure as the price of gold has rallied. Late comers to this industry, in particular those who set up temporary shops, prey on the emotions of people who may need to sell hard assets to rectify a weak financial position, or who are fearful of losing what are perceived as hard fought gains in their gold holdings. Still others may be prematurely selling their gold because they don't completely understand why there has been an on-going gold bull market.

Criticism: Isn't it hypocritical for gold dealers to transact gold sales based on an exchange of fiat cash for gold?

Response: Cash, or dollars, are society's primary means of exchange. Unless such critics are advocating that society turns to a barter system (which in many ways would be worse than sagging fiat dollars), exchanging gold for dollars is a function of how the overall modern day financial system works.

Criticism: Gold drops when the U.S. dollar is strong.

Response: This can be true from a short term, rumor-of-the-day perspective; however, the long-term trend for the dollar has been a precipitous decline while gold has been in the midst of a decade-long bull market.

Criticism: Since 1975, when Americans again were legally allowed to own such things as gold bullion coins, the Dow Jones Industrial Average has generated a greater return on investment than gold.

Response: That is a statistically invalid, apples-to-oranges comparison. A one-ounce gold coin doesn't change; it remains one ounce of gold. But the composition of the Dow as a managed stock index has changed over two dozen times since 1975. Companies that declined in profitability or went out of business were deliberately replaced by other publicly traded firms. Any long-term comparison between the price of gold to the repeatedly changed components of the Dow is misleading and worthless.

Criticism: Gold is a risky investment.

Response: And the stock market isn't a risky investment? The price of gold may go up or down, but gold bullion coins are not subject to defaults, liquidity problems or the kinds of risks that have devastated some areas of the equities and real estate markets since the financial crisis started in 2008.

Criticism: Gold doesn't pay dividends.

Response: Neither do some of the best known companies, including Apple and Google. Owning physical gold has proven to be a long-term way to preserve wealth and avoid the kinds of risks associated with even dividend-paying investments. The absence of a dividend is more than made up by gold's outstanding relative performance the past decade.

Criticism: Gold is a "bubble" asset or the price of gold is a bubble about to burst.

Response: According to the World Gold Council, "gold holdings by private investors have increased 24% in a decade, but gold remains an under-owned asset making up only 1% of global financial assets in private hands." So while gold critics base their "bubble" statements purely on gold's price appreciation over the last decade, actual physical gold in bullion and coin form is held by a relatively small few in the investment world. By this statistic, the gold market is not in the midst of a mania where 'everyone' is buying it and creating a bubble. But for gold critics who have been wrong for a decade, gold's price appreciation and the volatility of the paper gold futures market has led them to propagate faulty conclusions about the state of the gold market.

Criticism: Gold is not a stable asset because it has traded in an 11% range between approximately $1,700 and $1,900 an ounce in recent months.

Response: Price fluctuations occur in various financial assets due to near-term economic and monetary conditions, but the overall trend for gold has been undeniably higher. Gold is up more than five-fold in a decade as a growing number of investors realize that gold can preserve wealth and reduce risk to a long-term portfolio in times of systemic risk. It is gold's stability that enables it to act as a "cost-effective form of protection that does not negatively affect and sometimes benefits long-term expected returns, while reducing risk," according to a World Gold Council study. Human history also begs to differ with gold critics. Gold has been recognized as a store of steady value for at least 6,000 years. Gold is not subject to the whims of industrial supply and demand trends since industrial demand only accounts for 3/10ths of a percent of a steady supply of 5 billion ounces in the world today (WGC data).

Criticism: Gold is not a good hedge against inflation.

Response: Comparisons of gold versus inflation usually peg gold at its intra-day high back in 1980. If you track gold versus inflation since 1975, when Americans were permitted to legally own gold bullion coins again, the ratio is much better. And, if you still insist on using 1980 or almost any year as a starting point, then compare the purchasing power of the U.S. dollar since then. It's lost about three-fourths in the last quarter-century while gold has maintained its purchasing power. Gold has maintained its buying power over the last century. For example, in 1909 a new Model T Ford cost $440 -- equivalent at the time to 22 circulating $20 denomination U.S. gold coins. Today, those same 22 gold pieces are worth over $35,000 -- and that will still buy a nice, new automobile.

Criticism: Some Wall Street analysts say that gold exchange traded funds (ETFs) or gold stocks are better than owning physical gold bullion coins.

Response: It's certainly better for the brokerages that trade in ETFs and individual stocks, and some of those analysts touting ETFs work for brokerages that buy and sell equities. An ETF is a paper asset and many people who are buying gold coins and ingots are doing so to diversify and have some non-paper investments. Gold is a centuries-old proven way to preserve wealth and have quick liquidity. Gold mining shares are attached to companies that must compete with other companies, are subject to labor disputes, financing issues and government regulations to cite just a few of the risks.

Criticism: It's too costly to store gold bullion coins.

Response: The comparatively inexpensive fees for a bank safe deposit box can be itemized as an investment cost on your tax return.

Criticism: Some Wall Street analysts claim $1,700 an ounce is still too high for gold.

Response: Adjusted for inflation, the price of gold has not exceeded its 1980 record high. We've also sure seen in recent years how some Wall Street analysts and forecasters have been absolutely wrong in their predictions about gold as well as the stock market. Some so-called Wall Street experts claimed gold was at its peak when it was $600 or $700 an ounce. In the meantime, we've seen how the US dollar and other global paper currencies have been devalued relative to gold in recent years.

"BUYING THE RIGHT COINS IS IMPORTANT…THE PRICE IS SECONDARY… IF YOU HAVE THE RIGHT COINS, THE PRICE WILL SOON CATCH UP AND PASS WHAT YOU PAID."
--Excerpt from Stack’s John J. Ford, Jr. Collection catalogue, October 14,2003.

Many of our clients have subscribed to this philosophy and have created extremely significant collections. Those clients who knew to buy "the right coins" and who have sold their holdings have indeed, made handsome profits.

This is still happening today...

Monaco is proud to offer a magnificent matte-proof gold set struck in the year 1911. It was a year that witnessed the first transcontinental flight and the first running of the Indianapolis 500. It was also the year in which no more than 191 gold proof coins were struck in each of the four gold denominations for collectors. According to well-known authors, approximately 20-25 sets could still be in existence!

The Indian head design was introduced in 1907 ($10s and $20s) and 1908 ($2.50s and $5s) and matte proof coins were manufactured for each of the years 1908 to 1915. An art-deco satin finish was substituted into the design for 1909 and 1910, but many complained the satin finish was too difficult to distinguish from the business strike coins then freely circulating within the economy, so in 1911 the mint re-introduced the matte finish. Nevertheless, even the matte finishes were not popular with collectors. As it turns out, many of the sets were unsold and then melted down. This is critical to understanding the true rarity of the surviving population.

Each of the denominations is a major rarity today - but an evenly matched set is truly a numismatic landmark.

1911 Matte Proof Gold Sets

Most advanced and sophisticated collectors realize the value of a collection is enhanced by the sets within. Few collectors have the opportunity to acquire sets, especially of proof gold. We have researched back to 1979, and can find only 11 relevant sets (2 are impaired and therefore not included) that have sold at public auction – and all come from prominent collections (collectors) of our time. It’s interesting to see how they have compared with each other, not only by grade and condition, by the price realized. It is quite clear that the set presently being offered is the FINEST to have ever been publicly offered, based upon this research.

Depending upon how one evaluates the unpublished PR68 $10 eagle, using our evaluations below, this set should have a published price of between $434,000 and $469,000 according to the Collectors Corner fair market value scale. Yet through our channels, we can offer this set for $385,000. Here is the breakdown by coin:

Indian $2.50 quarter eagle, NGC Matte Proof-67.

Despite the fact that NGC has seen 96 coins in all grades, only 18 have been designated 67 with 12 finer. Undoubtedly many of these submissions are of the same coin. We can only account for eight (8) appearances of the PR67 quarter eagle in 67 grades over the past 20 years.

What we find most interesting is the escalation of growth in price over the past decade.

• Between 2000 and 2004, the average auction price realized is $23,000.
• Between 2006 and 2009, the average auction price realized is $37,950.
• Since 2009, the average auction price realized is $46,072.
• We call this exceptional growth and a great investment!
• The future looks good as the published price is $59,000 (Collectors Universe).

Saint-Gaudens $20 double eagle - NGC Matte Proof-67, Indian $10 eagle - NGC Matte Proof-68, Indian $5 half eagle - NGC Matte Proof-67 and Indian $2.50 quarter eagle - NGC Matte Proof-67.

Indian $5 half eagle, NGC Matte Proof-67.

Only 139 coins were struck this year for the half eagle denomination. In all, 56 coins have been certified in all grades with 11 designated 67 with only 4 finer. There have been 13 appearances at auction for a 67 graded coin, four of which are for the same coins. As with the quarter eagle, the half eagle also shows sound growth:

• Between 2000 and 2004, the average auction price realized is $47,840.
• Between 2006 and 2009, the average auction price realized is $54,625.
• Since 2009, the average auction price realized is $69,958. Most recently, we’ve recorded PR67 graded coins having realized more than $83,000 (2009).
• The published price is now $95,000 (Collectors Universe).

Indian $10 eagle, NGC Matte Proof-68.

Even though the mint produced 191 matte proof quarter eagles in 1911, they saw fit to mint only 95 of the $10 coins. Only 27 coins have been certified by NGC in all grades, of which an astounding 3 coins have achieved the lofty 68 grade level. THIS IS ONE OF THOSE COINS! It is clearly in the Condition-Census and could very well be the FINEST KNOWN example of the 1911 matte proof eagle.

There has never been an auction appearance for a PR68 graded 1911 Indian eagle coin. In fact, out of the entire 1908-1915 series, only two PR68 coins have sold at auction, a 1908 (1999) and a 1913 (1996, 2005). Clearly this coin represents much of the value of this 1911 four piece set.

It is somewhat difficult to ascertain a true Fair Market Value for a PR68 eagle, especially as even Collectors Universe has it unpublished, but comparative analysis may help here. The average difference in price between grades is 42%. Given that number, we conservatively estimate the published value, if there was one, to be $165,000. We may be way off, however, as just in the past two weeks a NGC PR67 1910 coin sold for $138,000. This could mean a PR68 coin should price out at $200,000!

Saint-Gaudens $20 double eagle, NGC Matte Proof-67.

Some original estimates of the mintage for the matte proof 1911 double eagle are as high as 100 pieces, however, two prominent authors have suggested a mere 20 to 25 coins were struck. Apparently, there are inadequate mint records to get a definitive number and the estimates are based upon the number of pieces that have surfaced over the past forty years. The total NGC certified population stands at 44 coins with 10 of those in Proof-67 grade and unbelievably, 5 finer!

There have only been 6 appearances at auction for a 67 graded coin since 1994.

• Between 1994 and 2000, the average auction price realized is $55,550.
• From 2003 through 2006, the average auction appearance realized $92,216, although other PR67 coins were realizing an average of $88,933 during the same time-frame.
• Only one example sold at public auction after 2009, the price realized being $103,500.
• The published price is presently $115,000 (Collectors Universe).

With the holidays fast approaching there is little on the calendar that would indicate an improvement of the current malaise until after the New Year. However, the bull market in gold appears to be firmly in tact as all driving factors are not going away. The fact to the matter is that the economic woes due to out of control sovereign debt crisis here and abroad is likely NOT going away.

In fact, as the TV personalities debate how to deal with the crisis. Our leaders will do what the always have done throughout history. Print more money. We now hear multiple Federal Reserve board members advocated further easing setting the stage for QE-3, which is nothing more than an increase of the money supply. Basic economic theory confirms that an increase in the supply of currency will lead to devaluation. One could argue that with sovereign debt spiraling higher and higher that it is impossible to pay without devaluation.

Simple logic confirms, at least in my mind, that it is a race to devalue. The question is, can it be done without causing an eventual spike in inflation? According to many economic theorists NOT associated with a Wall Street firm or a government agency, the answer is NO!

Once the holidays are out of the way the stage will be set for a seasonal rally heading into the New Year. It is quite likely that we will get a significant run in spot gold prices in the first quarter of 2012. Some forecasts have gold exceeding $2000, $2100 and even higher. Goldman Sachs said as late as November 14, "we expect that gold prices will continue to be driven in large measure by the evolution of U.S. real interest rates and with our U.S. economic outlook pointing for continued low levels of U.S. real rates in 2012, we continue to recommend long trading positions in gold,".

Further, if there is any cause for a financial panic we could reverse the course of the market in short order. I certainly don't want any type of unforeseen crisis to unfold, but I certainly wouldn’t bet against it by NOT owning a long position in gold. However, fundamentals affirm higher prices are a certainty with or without a crisis.

While most buyers love to expound on the buy low - sell high mentality, few actually practice it. Once the pendulum starts to swing in the other direction, as it most certainly will, the herd mentality will bring forceful buying back to the market, and the current premium lows will evaporate.

So what does one do to take advantage of the current situation? The first thing to do is BUY when premiums for generic gold is squeezed like it is currently. Second, and probably the most important, is buy on the dips. That time is NOW!

The Fugio Cent was the first Congressionally authorized coin to be minted by our young nation after winning of the Revolutionary War. The specimen offered here is not only rare, but it is graded in the GEM+ grade of MS66RB (Red-brown), making it the finest known by either PCGS or NGC.

I could right a book on why this coin would fit in ANY great collection of Americana, but I will spare you the time. Acquiring this wonderful coin will inspire you to discover the history, intrigue, die varieties and the reason for certain sayings and designs that adorn this wonderful piece of American history.

No doubt this coin speaks for itself...it has all the important aspects of a successful acquisition which meet requirements for my “blue print” for success...”Rarity, Popularity, and Historically Significant”.

The most recent GEM example to appear in public sale was seen March 2010 and it realized $21,850, however it was a MS66 which had a “brown” designation. The specimen offered here has a “red-brown” designation making its devices more visible and able to exhibit more depth. It stands alone as the “Finest Known” undisputed King of the Fugio Cents.

We are proud to offer it for acquisition at only $27,500

(Atlanta, Georgia) — Whitman Publishing announces the release of an expanded and updated second edition of Carson City Morgan Dollars, by Adam Crum, Selby Ungar, and Jeff Oxman. The book will be available November 29, 2011, from booksellers and hobby shops nationwide. It is hardcover bound, 128 pages, in full color, and retails for $24.95.

Carson City Morgan Dollars begins with the accidental discovery of gold in California in 1848. The struggles of adventurers in the Gold Rush. . .the Nevada silver boom of the late 1800s. . . the creation of the Carson City Mint. . . these are some of the rich historical veins mined by award-winning authors Crum, Ungar, and Oxman. However, it's not only the Old West history buff who strikes it rich with this book. Collectors and investors benefit from a detailed coin-by-coin study of every Morgan dollar ever struck at the famous CC Mint, including selected VAM (Van Allen–Mallis) varieties. The General Services Administration hoard—millions of Treasury-bagged Carson City silver dollars brought out of storage in the 1970s and sold to collectors—is a fascinating "main character" in this story. The authors describe the government's sales of these coins, and their effect on the hobby. Then they share detailed advice on ways to collect Carson City Morgan dollars.

• Each coin-by-coin entry has a chart of values in Mint State grades, listing prooflike (PL) and deep-mirror prooflike (DMPL) values separately.
• Each "generic" (non-VAM variety) coin has a "By the Numbers" chart, which gives its original mintage, Leroy Van Allen's published estimate of the quantity in the GSA hoard, rarity rankings for GSA and non-GSA examples, and other useful facts. "Overall Rarity" is the total number of coins estimated to exist for the issue, based on the number found in the GSA hoard, the number graded by PCGS and NGC, the authors' personal observations of the market, insider information, and auction records.
• A "Condition Census" provides the most reasonable acquisition grade for most collectors. ("Though it isn't always possible to acquire the highest-graded coins in GSA holders," the authors note, "it's still desirable, and fun, to attempt to do so.")
• "Collector Insights" summarize useful background information on each coin.
• "Variety Notes" supply valuable information on the many die varieties known to exist for Carson City Morgan dollars in GSA holders.

The second edition includes a new foreword by hobby legend Q. David Bowers, the "Dean of American Numismatics," who calls the book "a necessary volume in your silver-dollar library."

The "Collector's Checklist" has been expanded to two pages, with more space for collectors to record their purchases and write notes about their coins. Another addition to the second edition is the inclusion of an index, allowing the reader to quickly search for terms—from Adams Brick Works to Brigham Young—relating to the Carson City Mint and its silver dollars.

Call 1-888-900-9948 to purchase your advance copy.

The rolled edges were meant to solve the problems of their Wire Rim predecessors, but wound up creating problems of their own. In the September 10, 2007 edition of Coin World, Roger W. Burdette and Jeff Reichenberger discuss the reasons for the Rolled Edge problems:

"The first version of Augustus Saint-Gaudens $10 coin had no properly defined rim, made a wobbly stack when the experimental pieces were piled, and required the use of a medal press to bring up the design.

"To remedy these defects, Chief Engraver Charles Barber made a new set of hubs and dies from the same set of models as before. But this time, he cut a well defined rim into the hubs. Experimental pieces demonstrated that the relief was low enough that the coins could be struck on ordinary presses. These were shown to the Treasury secretary and President Roosevelt and approved.

"This second gold eagle version had the design in slightly higher than normal relief. The fields ended at a well defined rim on which the coins could sit when stacked. On the reverse, the legends had small text stops - usually called periods - at ends of each inscription, just as on the first version.

"The Philadelphia Mint struck 31,500 pieces of the second version on normal coinage presses in late September 1907 and the coins seemed destined for release across the country."

With a new model from the studio of the late Saint-Gaudens, the Mint produced what would be known as the No Periods regular issue, rendering the Rolled Rim coins obsolete. Burdette and Reichenberger quote Philadelphia Mint Superintendent John Landis, in a letter sent to acting Mint Director Preston:

"You will notice that the eagle from the last model is a great improvement over those of the first model. ... If this last model meets with your approval, I would strongly urge upon you the expediency of immediately replacing the $315,000 now on hand, of the first model with eagles of the last models. ... I think we will be severely criticized, and certainly deserve to be, if the eagles already struck should be allowed to go into circulation."

In fact, all but 50 examples of the Rolled Rim were melted making this issue one of the rarest gold coins in United States numismatics. The coin is listed in the acclaimed book, 100 Greatest U.S. Coins. That work reports the following, “with the exception of 40 to 50 coins, all of the Rolled Edge coins were melted.”

A previous cataloger praised the luster of this coin, calling it "satiny." While the coin offers bolder luster than that usually associated with satin, there is considerable fine texture in the sunset-orange fields.

Current leading price guides (Coin Values, Collectors Universe, Numismedia) lists this important 20th century rarity at an average $262,000.

Monaco Offering Price: $257,500

It was 1766, ten years before the start of the American Revolution, when back-country settlers in North Carolina launched their own bid for economic and political liberty. For almost five long years the Regulator Rebellion pitted thousands of farmers against political and economic elites loyal to the British Crown who opposed the Regulators' proposed reforms.

It appears the more productive regions of the colony were being taxed at the same rates of those less productive regions. This brought about discontent from those paying more taxes to the crown and thus a rebellion was formed to bring about change. It started with peaceful demonstrations, but culminated in May 1771 when then Governor Tryon formed a colonial militia which defeated more than 2,000 armed farmers and forcing at least 6,000 Regulators and sympathizers to swear allegiance to the government. Seven farmers were hanged.

As with all conflicts, the “War of the Regulation” had to be paid for as well. In 1771, the North Carolina Assembly authorized the issuance of 60,000 pounds in debenture notes for the purpose of paying the expenses associated with putting down the Regulators.

As a result the historical notes from December 1771 offered here were issued. Amazingly, a few have survived today for collectors to enjoy and literally hold early Colonial history in their hands. Whether or not the Regulator Movement was a precursor to the American Revolution is certainly a topic for debate. But one thing cannot be debated, and that is that these historical treasures are truly something to behold and ponder.

The story of how these came to survive has been lost, but I am excited to have discovered this book of fifty notes completely in tact and UNCUT. Each note in these uncut sheets contain a “Two Shilling & Six Pence”, “One Pound”, and “Ten Shillings” and are were printed with engraved plates saying, The Province of North Carolina is indebted to the Poffeffor (possessor) here of ---------- (denomination) proc. Money to be paid out of the Public Treafury (treasury) according to Act of Affembly (assembly) pafsed (passed) Dec. 1771.

A vignette is displayed in the lower left corner and signers to the right were Richard Caswell, 1st and 5th governor of North Carolina, as well as, an appointee as one of the delegates to attend the Constitutional Convention in 1787. Other signers were Lewis De Rosset, John Harvey, and John Rutherford all important figures in early Colonial history.

According to The 5th Edition of Early Paper Money of America published in 2008, the fair market value for all notes combined in these uncut sheets is $1,200 for uncirculated, $1,800 for choice specimens and $2,400 for GEM uncirculated.

The notes offered here are all from an original bound book copy which contained 50 uncut sheets. It is reasonable to assess a premium to uncut sheets, but I have not done so. Through much research of auction data, price guides, and discussion with top experts in the field I have determined that these notes are an exceptional value and I have priced them at below current published and realized fair market values.

If you are a believer in the blueprint for successful collectible acquisitions, which is rarity, popularity and historical significance then don't hesitate in adding as many of these wonderful early Americana rarities to your collection as can be acquired.

The notes in this offering are graded by the premier currency grading service, Paper Money Guarantee (PMG), and the available grades and prices are as follows:

Obviously this offer cannot be duplicated and is limited to only 50 with a variety of grades from 58-66. The average grade is in Choice Uncirculated grades of 63 and 64. Only two are available in the 66 grade and they will sell quickly, so d on't hesitate, please contact your Monaco representative immediately.

"The trifling economy of paper, as a cheaper medium, or its convenience for transmission, weighs nothing in opposition to the advantages of the precious metals... it is liable to be abused, has been, is, and forever will be abused, in every country in which it is permitted." --Thomas Jefferson 1813

Issued at the onset of the Civil War in 1861, the Confederate states attempted to solve their vast financial problems by issuing their own paper money – not unlike the Federal Reserve does today each time we have financial problems in our modern-day economy. Confederate notes held little monetary value due to a lack of gold and silver reserves in the Confederacy as well as their setbacks on the battlefield. Though not official legal tender, southerners traded these notes as a medium of exchange up until the bitter end, at which time they became worthless.

From 1861 to 1864, Confederate notes were printed in denominations of $.50, $1, $2, $5, $10, $20, $50, $100, $500 and $1000. The notes offered here are all of the $10 denomination and all are certified by Paper Money Guaranty (PMG) which is affiliated with Numismatic Guaranty Corporation. The grades and prices available are;

SOLD OUT

There have been a significant number of appearances of these 1864 $10 (T-68 variety) notes with frayed edges and discoloration, and countless low-quality, uncertified examples sell for fifty dollars, sixty dollars, seventy dollars and much more. The notes offered here are exceptional quality notes that were assembled over a period of time by a noted paper money collector, and it is obvious that extreme care was taken with every purchase. After I negotiated the purchase of these historical notes, I carefully culled the best of the best and sent them to PMG for grading, certification and encapsulation. Simply put, for the money . . . these are good as it gets.

Today, Confederate notes are valuable collectibles and an important part of United States history. They make a perfect addition to any coin or currency collection. Every note is guaranteed to meet or exceed your expectations or your money will be fully refunded. Call your Monaco account representative today and buy as many of these as you can . . . they will not last.

The 1848 $2.50 Liberty with the reverse CAL. stamp is a very significant issue often referred to as a one-year Type coin, not to mention the fact that it is the first commemorative coin struck in the United States to memorialize the historic events of the California Gold Rush. This particular coin, as are all surviving examples, was produced from the first shipment of gold bullion to arrive at the Philadelphia Mint from the fields and streams of “El Dorado”. The shipment provided 230 ounces of the precious metal, a major portion of which was transformed into 1,389 regular-issue quarter eagles, each coin bearing the inscription "CAL." above the eagle's head on the reverse. Curiously, coins made from California gold by the Philadelphia mint can not be identified since they were melted and assayed, then placed into the economy at a frenetic rate. Aside from the gold recovered from shipwrecks with a distinct time-line, these 1848 $2.50 Liberty with CAL. coins are the only regular issue coins to be positively identified as being made out of California gold.

Numismatists, historians and scholars are enlightened by surviving documentary evidence leading up to the production of these coins. Secretary of War William Learned Marcy penned a letter regarding the first shipment of gold from California to Mint Director Robert Maskell Patterson on December 8, 1848:

"If the metal is found to be pure gold, as I doubt not that it will be, I request you to reserve enough of it for two medals ordered by Congress and not yet completed, and the remainder, with the exception of one or two small bars, I wish to have coined and sent with the bars to this department. As many may wish to procure specimens made with California gold, by exchanging other coin for it, I would suggest that it be made into quarter eagles with a distinguishing mark on each, if any variations from the ordinary issues from the Mint would be proper and could be conveniently made ..."

Auction catalogs dating back as far as 1851 have described this issue as a “Proof” while modern day numismatists claim the coin to be “Prooflike” struck on freshly polished business strike dies. In most all catalog descriptions, the term excessively rare is used nearly all the time! Regardless of their status as proof or business-strike issues, however, the coins are among the most attractive examples of U.S. coinage ever issued, and collectors of many disciplines pursue this issue with avid determination. Experts have further estimated that fewer than 75 examples of this rare issue survive today in all grades, maintaining the demand on such a remarkable coin.

Of the few remaining examples, we note several have realized well-over $300,000 at public auction and at one point, an superlative example even realized $400,000+.

The present specimen is an impressive Mint State example, with reflective yellow-gold surfaces on the reverse and hints of light green on the obverse. There is definitely a contrast between the devices and the fields, but not enough to merit the classification of “cameo” - a term often reserved for Proof coin.

The NGC Census reports that four (4) coins have been certified as MS61 since 1987, with a mere 17 finer. The Collectors Universe published price is $90,000, while the Numismedia published price is $94,380.

This graph is for the MS60 example of the 1848 $2.50 CAL. Coins in the MS61 grade always trade for higher amounts, but this shows an impressive price history over the past decade.

We are excited to offer this exciting coin for only $93,750.

It seems that there a perfect storm brewing for the metals and it has caused what most are calling a near term “corrective phase”. Both metals had been red-hot and setting new all-time highs.

By my view, one positive for the longer term picture surfaced in the trenches a couple of weeks ago when many big fund manager's sentiment turned short-term negative. While there remains a ton of long-term bullishness, the near term will most likely remain on shaky ground according to a survey taken today of bullion dealers, investment banks, futures traders and technical analysts.

However, for the better part of two years, some of the world's biggest hedge funds have been piling into gold betting on it as a safer hedge against the Fed's policies to massively increase the money supply. Couple this massive printing of new money with Bernanke's desire to keep interest rates at near zero and you have the making of what long-term market watchers consider a driver for a rapidly decreasing value in the U.S. Dollar.

Yes, the dollar has rallied against other majors in the past few weeks, but the long-term fundamentals suggest further deteriorating.

In addition to short-term negative sentiment in gold and an increase in the value of the dollar, we have seen the equities markets across the globe taking a beating. For many big funds this meant covering leveraged positions. The tendency for individual hedge funds, or anybody else for that matter, is to sell winners before selling losers.

The Perfect Storm

• 1. Short term sentiment turns negative towards gold.
• 2. A sudden increase in U.S. Dollar due to Euro Zone fears.
• 3. Global markets take a beating in massive sell off of all assets.

What's been one of the few winners this year? Gold!

For the year, gold saw a 42% spike higher than it's low...that's right, it moved over 40% in just seven months from its price in February, and even though it has taken a beating this week. Gold is still less than 15% off its better than 40% increase of the past few months.

Generally a diversified portfolio allows you sell what you WANT to sell, but when you can't, you sell what you CAN and this years only bright spot has been gold, silver and many other commodities. I believe a lot of this current liquidation is profit taking from traders that will re-enter the market.

Why you ask...according to the survey mentioned above, the participants see gold in a bull market correction, in fact, most see it moving higher in the coming week. The ones who see going higher after the dust settles from the current down turn are saying that “gold is currently caught up in the mass move to sell all assets and that the cheaper price will be a lure to bargain hunters.”

Adrian Day had this to say, “the sell off is overdone. I expect back and forth for the next few weeks, but a bounce is in order now. The market had gone too far too fast, and was disappointed by Uncle Ben's new “twist” program...”

While there remains a risk of continued de-leveraging in all financial markets most analysts see the high $1500s and low $1600s as a wonderful opportunity to jump in or add to current positions.

To take advantage of this downturn I have made available a small number of the very popular pre-1933 MS63 St. Gaudens $20 gold coin. It the best way to invest in gold as they move with the value of gold and don't have a big premium over the spot price of gold. The supplies can at times be very tight creating a “spiking trend”. The long-term charts strongly suggest that when you can buy them for less than 20% over the current spot price, then you should buy aggressively.

We currently have that scenario...so again, I am making a small number available for only $1899 and if we are trading at this corrections current low then these MS63 St. Gaudens are a “buy now”. Contact your account representative now at 1-888-900-9948 before this small cache is sold out.

Although material in the accompanying auctions lacked the type of coins that usually claim strong fanfare for a major show, they still combined to hammer down at some $42 million exhibiting a strong sell through rate with an uptrend bias. As always, top quality coins captured the attention of enthusiastic bidders and many coins realized higher than expected prices.

"This 38 ounce rare Kellogg & Humbert gold assayer ingot recovered from the S.S. Central America brought an impressive $138,000 at one of the recent Long Beach Expo auctions"

If there was a dull spot to the show I would have to say that availability was dismal. Several factors contributing to this is that gold type is very HOT and in high demand keeping supplies tight, and more importantly, this show is on the heels of our annual ANA World's Fair of Money held just weeks before. My goal at every show is to buy coins to feed the current demand, not to sell coins, and I cannot remember a Long Beach Coin Expo in which I was unable to purchase enough coins to satisfy even an average day of sells back at the office. But this was the case at this years September Long Beach Coin Expo...I simply could not buy enough coins!

To make a long story short...supply is VERY tight and demand remains strong for rare, popular and quality coins.

A "pinch" of California Gold Rush gold dust is available for just $39 . . . while PCGS-certified California Gold Rush gold nuggets are available for just $89. These are ideal ways to start or add to an existing collection of California Gold Rush memorabilia . . . and they make outstanding gifts for children, grandchildren, business associates and anyone else interested in California Gold Rush history.

Call Monaco at {embed="inc/DisplayPhoneNum"} to order yours today!

With National and International Media continually reporting on sky-rocketing metals, most U.S. coin dealers across the country have been concentrating heavily on retail sales related to Gold, Silver, and Platinum. From bars to bags and individual coins, dealers are as busy as they have ever been, including the late 1970’s and early 1980. But there is much more to the current coin market than just the metals. The overall coin market is quite robust. There are hundreds and thousands of collectors and investors trying to add specific coins to their collections or portfolios. Demand for rare date Gold has been healthy for quite some time and early $20 Liberties are about as strong as they could be. Morgan and Peace Dollars have retreated slightly this past month however, the demand remains steady at the current levels.

Most series have specialty collectors looking for specific varieties of coins within a series. One that has been very successful for a long time is the GSA Carson City Morgan Dollar. Several years ago, at the request of Selby Ungar and other dealers, NGC began to band and certify by grade the GSA Dollars in the original sealed black plastic holder. Since its inception, these graded Dollars have become very popular for specialty collectors. NGC has a census report for these coins so collectors can see how many have been certified by date, variety, and grade. Buyers for the GSA Carson City Dollar are so enthusiastic that a book was written to help educate buyers in this arena. Toward the end of 2009, Carson City Morgan Dollars, authored by Adam Crum, Selby Ungar, and Jeff Oxman, was released, stimulating a market which has yet to cool down.

When the GSA Silver Dollars were incorporated into the NumisMedia Fair Market Value Price Guide, values were sporadic for most dates and grades. The first listings were in September 2004. Most of the trades monitored were for MS63 to MS65 coins. There were very few higher grade coins certified at this time and certainly very few were available in the market. The following list reports the FMV for various coins by grade with a comparison of dates from that first issue in 2004 against today’s prices.

September 2004

June 2011

This comparison indicates that most of the more common coins are still within what would be considered reasonable by today’s price structure. However, if you take a look at the NGC Census Report, you will notice that the coins with the low populations are the ones that have increased over the last seven years. The FMV for these coins has soared due to the severe competition of dealers and collectors. Whenever any of the highest certified coins are offered in a major auction, most advanced specialists will be ready with their checkbook in hand.

The following charts shows the highest grade certified for the GSA Carson City Dollars with the population and the current FMV.

With only eleven coins, you can see this is a very short set to collect. But there are other varieties and Prooflike and Deep Mirror Prooflike coins that could increase the size of this collection. For the most part, P/L and Deep P/L coins have been ignored by collectors, but this could change as more discover the population and rarity of these CC’s.