First published in the April 12, 2010 issue of Coin World
EBay continues to provide a vibrant market for rare coins. As reported in the April 5 Coin World, a 2004-D Wisconsin, Extra Leaf High quarter dollar graded Mint State 67 by Professional Coin Grading Service was sold on March 11 on eBay for $10,000.
It was to some a very surprising price, but it is undoubtedly a condition rarity as it is one of just two graded MS-67 by PCGS
The market for these Wisconsin quarter dollar variations has shown strong legs in the past five years, although looking at auction records from 2006 to the present shows a decline in value for commonly collected grades of MS-64 though MS-66.
For example, a Numismatic Guaranty Corp. MS-64 example of the Extra Leaf High coin sold on eBay for $189 in March, while a PCGS MS-64 sold at Heritage Auctions for $104 in February. Examples of this coin at the same grade generally realized $300 in 2005 to 2007. Now a bit more affordable, the variations are still widely collected.
In another noteworthy sale, an extremely rare error, a 2008 John Quincy Adams dollar struck on a 5-cent coin planchet and graded MS-67 by PCGS, realized $16,100.
To put the strength of this price into perspective, the most expensive single U.S. coin sold on eBay in the past several weeks was a 1907 Saint-Gaudens, High Relief double eagle that realized $20,107.
Among the more high-profile coins offered on eBay that have not found buyers is a 1995-W American Eagle silver dollar graded PCGS Proof 70 deep cameo that went unsold at $69,695.70, an MS-63 1927-S Saint-Gaudens double eagle that went without a bid at $54,500 and a 1793 Flowing Hair, Wreath cent graded AU-55 by PCGS that found no buyer at $45,000.
But, the audience on eBay at the lower tier is thriving. Modern Mint products, such as gold and silver American Eagles, Proof and Uncirculated Mint sets, and certified coins all have robust markets.
Concern about Chinese counterfeits has cooled down lower-value uncertified circulated coins, as deceptive replicas from Chinese sellers have made the area problematic and have scared away some new buyers.
