Rare Coin From Civil War Breaks Record Price
February 10, 2010 – Rare coin collectors and certified coin investors refer to some coins as “sleepers”; these are coins that due to timing or demand have not attained their full price value. A rare 1861-D Gold Dollar recent attained its price, with its selling price of $57,500 being more than double its price as listed in the PCGS price guide. This piece is an indication of the success that many investors have when investing in certified rare coins.
The Gold Dollar was an important part of the money in circulation in the United States for most of the 19th century. This coin was used from 1849 until 1889 and was minted in a number of locations. This particular coin, however, is unique because it was minted in the Dahlonega Mint in 1861, the year the Civil War began. Dahlonega, Georgia was not a huge mint location, rather one of the locations established to process gold from the Georgia gold rush in 1828.
Since these coins were used in circulation, most of the remaining pieces are in poor condition, making this coin more valuable. This coin was graded AU-53 by PCGS; for reference, the same coin graded AU-55 is valued at $27,500 by the PCGS price guide. Because of the timing, the good quality of the coin and the limited number available, this specimen was able to exceed its previous amount.
Whether an investor is prepared to spend $57,000 for a rare coin or not, the basic premise is the same for all levels of rare coin investing; find the best quality coin that has the most demand, and purchase it for below what the market will bear; purchasing coins this way provides investors with a good opportunity to find a sleeper and watch it break through and earn an excellent profit when it is sold.
Shawn Penny
Senior Staff Writer - Rare-Coin.org
