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ONRCOINS
With an uptick in both the U.S. dollar and stocks today, precious metals saw falling numbers. Gold spot price lost $2, while Silver lost 7 cents. Despite the loss, both metals are still hovering above important price points. Gold remains over $1,200 per ounce and Silver is selling above $17 per ounce.
In mid-January a pair of almost identical 1971-D Washington quarter dollars struck on solid copper-nickel blanks were reunited after two separate coin dealers parted with them. Weighing 4.81 grams, the first coin was in the possession of error dealer Jon Sullivan, and according to Mike Diamond of Coin World, its distinguishing markings include two extremely thin, “partially worn-through spots of embedded copper-colored metal on the reverse face.” The second coin, owned by error dealer Jim Cauley, weighed in at 4.77 grams. Upon analysis by Roger Paulen of the Geological Survey of Canada, it was determined that the “orphan” coins’ composition matches that of a 5-cent piece (75 percent copper and 25 percent nickel).
The word from Numismatic News is that the Philadelphia Mint hopes the interest of current and potential coin collectors will mount in 2017 with its production of the cent inclusive of a mintmark, “P.” You might ask how or why a tiny letter would create any significant pop in collection activity. If you know anything about the 225-year history of the Philadelphia Mint, you may be aware that this mint traditionally prints no mintmark on its cent pieces. But, as the mint reaches its 225th year of operation, it is making an exception in order to celebrate and commemorate the anniversary.
If you’re considering investing your money in rare coins, all signs point to significant positive performance for the future of this luxury asset. According to the highly reputable Knight Frank Luxury Investment Index (KFLII), which tracks the performance of luxury collectible items, rare coins continue to be a profitable venture for investors. In fact, in his article, “Luxury Auctions Shine” for The Wealth Report, Editor Andrew Shirley explains that KFLII’s 2015 results, pictured below, showed rare coins gaining a substantial 13% in 2015, second only to classic cars, which gained 17%.
ONR is Pittsburgh’s premier dealer in rare United States coins and paper money, as well as an authorized precious metals distributor of gold, silver, and platinum bullion products.