Numismatics is the study and collecting of very old coins. And while some people think it’s just a hobby or a waste of time, this September proved those theories wrong!
In the Stack’s Bowers auction, many pieces went for over $5,000 and attracted collectors from all around the world. Between those golden pieces was a Morgan Dollar (the 1893-S), some Liberty double eagles (linked to the San Francisco Mint) and the historical New Orleans Mint, the Saint-Gaudens Double Eagle.
For those who know and love the rare coins, this is a result of all the interest around historical coins.
It highlights the work done that some of us don’t really think about in daily life, like the emblematic designs, the limited editions, and names like Augustus Saint-Gaudens; which any fan knows.
September’s auction: 5 coins with a historical value
The list of results shows some clues about what moves people in the numismatics world:
- The first Liberty Double Eagle auctioned, a coin from 1889 in grade MS-62 (PCGS), reached $5,280. A classic design from James B. Longacre with the nuances that all collectors value.
- In second place there was the Morgan Dollar 1893-S, classified Fine-12 (PCGS), this one was sold for $5,520. In the Morgan series, the San Francisco Mint and its low shot make this year one of the most searched ones. And the auction clearly supports this idea; even in lower conversation grades, the demand (and the prices) is very high due to the rareness and the history behind it.
- The third higher price auctioned was a second Liberty double eagle, but this time a 1889, MS-62 (PCGS) which closed the deal with $5,640. But why that much? Each year and each different lot shows a difference in the shining, wear, and certification. And this definitely affects the final price.
- The fourth coin auctioned was the 1850-O EF-45 (PCGS), or better known as the Double-headed eagle with the head of liberty from the New Orleans Mint . The final offer? $6,600. Showing a double interest: the straight of its origin—a coin with its own legend—and how difficult it is to find pieces from that time that are well preserved. Which actually adds a delicate historical layer that’s much appreciated by collectors. It can create a very strong competition when one of these examples appears.
- The last one, the winner of the night, was the 1925-D (MS-62, NGC) Saint-Gaudens Double Eagle, reaching $7,800. Designed by Augustus Saint-Gaudens, it is considered one of the most beautiful coins ever made in the United States. But besides the aesthetics, it was very limited at the time, a factor that makes the piece highly valuable and desired when they go out in the market.
What numismatics can teach us today
Even with different profiles, these coins share some characteristics that make them a priority on the coins market. They relate a year or mint that was important because of the historical moment at that time, the certification, and the designer adds context, and people can trust they’re authentic. The combination of rareness and preservation can make a big difference too.
This auction states how numismatics is still a space where history and emotion join together. Where rare coins can go around telling stories that collectors want to take care of.
From the 1889 Liberty Double Eagle to the Morgan Dollar 1893-S to the Augustus Saint-Gaudens, the Stack’s Bowers auction is proving once again that collecting in the U.S. is still big.
It’s like art, I guess; when a piece joins design, context, and it’s well preserved, the market will be on it’s side, and someone will want to have it to be able to admire it from a closer perspective.