Modern Coin Blog

Modern Coin Wholesale Rare Coin of the day: Highly Elusive Mint State Civil War Issue 1862-S Liberty Double Eagle PCGS MS61

1/24/2017 9:52:28 AM
Modern Coin Wholesale Rare Coin of the day: Highly Elusive Mint State Civil War Issue 1862-S Liberty Double Eagle PCGS MS61

The hoarding of gold and silver in the East at the outset of the Civil War resulted in the suspension of specie payments at the close of 1861. Consequently, the Philadelphia Mint reduced double eagle production by 97% between 1861 and 1862. However, Western commerce remained relatively unchanged, and gold continued to circulate heavily. San Francisco Mint officials increased twenty-dollar output to 854,173 coins in 1862. Most of the 854,173 S-Mint double eagles coined in 1862 entered circulation, and today the average certified grade is just below AU50. The S.S. Brother Jonathan and S.S. Republic treasure recoveries contributed 190 examples of the 1862-S double eagle to the numismatic marketplace. Despite the appearance of those coins in the last two decades, the combined NGC and PCGS population is limited to 37 examples graded MS61 and only 21 finer, with none above MS63 (11/16).

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Posted in: Gold    

CoinWeek Podcast #52: How to Deal Coins (Hint: Learn to Grade)

1/20/2017 1:14:11 PM
CoinWeek Podcast #52: How to Deal Coins (Hint: Learn to Grade)

Since the age of 15, Ron Drzewucki, owner operator of Modern Coin Wholesale, has used his keen eye for grading and insider knowledge of the rare coin industry to make huge profits for himself and for his collector clients. In this episode 52 of the CoinWeek Podcast, Ron talks about how he got started, how the industry has benefited from change, and how he buys and sells coins right now!

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Posted in: Gold    

Modern Coin Wholesale Rare Coin of the day: Immensely Popular, Still Affordable 1836 Gobrecht Dollar PCGS PR50

1/16/2017 9:55:33 AM
Modern Coin Wholesale Rare Coin of the day: Immensely Popular, Still Affordable 1836 Gobrecht Dollar PCGS PR50

This is the Name on Base, Judd-60 Original variety. It is believed that 600 pieces were struck in this production run, and records indicate that all were deposited in a local bank. As a result, many entered circulation and fewer high grade examples were set aside with the die scratch than the first production run in early December, many of which were saved as mementoes. Gobrecht dollars have been considered patterns for more than a hundred years. The only actual patterns among Gobrechts are the 1838 dollars struck in Die Alignment IV with no reverse die cracks. The status of the entire series as pattern coinage was first published in Robert Coulton Davis' examination of all known patterns in the Coin Collector's Journal in 1885. Since then the series has been referred to by Adams-Woodin numbers and Judd numbers, further reinforcing their perception as patterns. Today it is a matter of tradition and convenience to refer to the various dates, alignments, and mulings by Judd number.

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Posted in: Gold    

Modern Coin Wholesale Rare Coin of the day: Single Highest Graded 1897-S Barber Half Dollar NGC MS68

1/12/2017 2:48:16 PM
Modern Coin Wholesale Rare Coin of the day: Single Highest Graded 1897-S Barber Half Dollar NGC MS68

The 1897-S is well-known as a scarce issue in mint condition, and especially so in MS65 and better grades. The mintage was a generous 933,900 pieces, but apparently the vast majority were dropped into circulation and stayed there. Of the coins that were set aside, a great many '97-S halves have been cleaned and stripped of their original surfaces; thus, it is difficult to locate a coin with original color. There are barely 100 coins in Mint State at both of the major services combined. And above MS65 grade, the certified population drops to only 14 submissions. As noted in the listing title for this monstrous coin – it is the single highest graded example, with an NGC population of 1 and a PCGS population of – you should have guessed it – none.

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Posted in: Gold    

Modern Coin Wholesale Rare Coin of the day: 225th Anniversary of the 1792 H10c Half Disme PCGS F12 The First Coin of the US Mint

1/10/2017 12:01:39 PM
Modern Coin Wholesale Rare Coin of the day: 225th Anniversary of the 1792 H10c Half Disme PCGS F12 The First Coin of the US Mint

The 1792 half disme is considered by many to be the most important issue in American coinage. As the first denomination manufactured after the Coin Act of April 2, 1792, the 1,500 half dismes struck represent the first official production of United States federal coinage. Interestingly, a number of pieces survive in extraordinarily high grades, saved as gifts from the likes of George Washington, Thomas Jefferson, and David Rittenhouse, while others actually circulated extensively in Early America. The steel-gray obverse displays gunmetal and olive accents around the borders and pale gold over the interiors. Liberty's portrait is clearly outlined with partial detail on the mouth, eye, and upper curls. The legends are entirely readable. The reverse is not quite as well-defined.

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Posted in: Gold    

Modern Coin Wholesale Rare Coin of the day: Lustrous, Sharply Detailed 1892-S Morgan Dollar NGC AU58

1/6/2017 9:28:59 AM
Modern Coin Wholesale Rare Coin of the day: Lustrous, Sharply Detailed 1892-S Morgan Dollar NGC AU58

Virtually the entire 1.2 million-coin mintage was employed commercially on the West Coast during the late 19th and early 20th centuries. Only a handful of 1892-S Morgan dollars were set aside for numismatic purposes, while the rest were left to serve their intended purpose in everyday transactions. Most coins are found in heavily circulated condition, and the average certified survivor is in XF40. The population totals begin a rapid decline above XF45 grade and NGC has graded only 50 pieces higher than this one. This particular example offers a very bold strike, along with vibrant luster and near white surfaces.

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Posted in: Gold    
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