On Monday, August 30th, the numismatic world was shocked when a real estate developer from Texas paid an astounding $4.1 million for a PR68 specimen of the 1804 Silver Dollar. The anticipated price was in the $2 million range and the room was in awe when the hammer came down at over twice the expected price. Because of this record shattering coin sale, we are already seeing evidence that national media attention is causing tens of millions dollars to flood into other great coins, putting even more pressure on already-tight supplies. I have received a noticeable increase in requests for our faxed price lists from many dealers all across the country.
Other coins that brought very respectable prices were proof gold coins of the same collection from which the 1804 dollar came. On the overall market, high end 18th and 19th silver type coins and rare date gold coins remain the source of most demand, although we are seeing an increase in demand in the silver dollar market.
There is growing evidence as we move toward the fourth quarter of the year that the year 2000 will likely be filled with optimism and excitement in the rare coin market!
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