Truly rare coins are exciting to discover, both for their historical significance and the eye-popping prices they command. However, one aspect of rare coin auctions often goes unnoticed: the sheer number of bids a coin attracts. This is a key indicator of genuine market interest—far beyond the final hammer price.
High-Profile Auctions and Rare Coin Sales
A prime example of the vibrancy of this market was the Heritage September 12-15 Long Beach Expo U.S. Coins Signature Auction, which saw over $22 million in sales. While the auction’s overall success is undeniable, the real story lies in the bidding activity behind some of the standout pieces.
The 1796 Capped Bust Right $2.50 Quarter Eagle
Among the notable lots was the 1796 Capped Bust Right, No Stars $2.50 quarter eagle. With only 963 examples known to exist, this coin in Professional Coin Grading Service (PCGS) About Uncirculated 50 condition achieved an impressive $152,400. Ron Guth, a respected figure in the numismatic world, called it “one of the most historic and important U.S. gold coins.” The enthusiasm shown by bidders proves that it’s not just about price, but the genuine interest in securing such a rare piece.
Major General Alexander Macomb’s Congressional Gold Medal
Another standout was the 1824 Major General Alexander Macomb Congressional Gold Medal, which sold for $240,000. This sale alone attracted 55 bids, underscoring the strong demand for not only rare coins but historical medals as well.
The 1895 Morgan Silver Dollar
The 1895 Morgan silver dollar, graded Proof 67+ Deep Cameo, was another highlight. It garnered over 30 bids, eventually selling for $324,000. The bidding frenzy for such coins illustrates just how deeply collectors and investors are invested in acquiring these iconic pieces.
The Broader Market for U.S. Currency
The auction wasn’t just about rare coins. The U.S. currency segment also performed strongly, with more than $10.5 million in sales, emphasizing the importance of collecting U.S. paper money.
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Enthusiasm and Market Demand
While the prices achieved for these rare coins and medals are certainly attention-grabbing, it’s the number of bids that truly reflects the intense competition and enthusiasm among collectors. The Long Beach Expo auction demonstrated that rare coins, historical medals, and U.S. currency are not only valuable but continue to excite collectors and investors, driving up demand in this vibrant market.