The Availability of Rare Coins

by Doug Winter – RareGoldCoins.com

One thing that I’ve always found interesting about the coin market is the ebb and flow of coins that are (or aren’t) available. If you actively buy and sell coins for any period of time, you learn that certain “rare” issues or series always seem available. Other supposedly available coins can, with no good reason, go through fallow periods where they become very hard to find.

I was having a conversation with a client yesterday and he raised a good point: in the last year or so, it seems that interesting New Orleans half eagles have not been offered for sale with much frequency. As we began discussing this statement, my mind raced back through the last year and I asked myself what were some of the interesting New Orleans half eagles that I have recently handled. The answer was pretty illuminating…

Over the years, I think I’ve owned more interesting New Orleans half eagles than just about anyone. I was one of the first dealers to recognize how rare these coins are and I’ve tried to make a market in high quality New Orleans half eagles for close to two decades.

As recently as a few years ago, I was handling ultra-cool New Orleans half eagles on a regular basis. Coins like the Pittman MS63 1840-O, two of the three known Uncirculated 1842-O, two extremely high grade 1843-O Small Letters, the MS63 Bass 1845-O, two nice Uncirculated 1851-O, the two finest known 1854-O, etc. Often, I had two or three Finest Known or Condition Census coins at one time.

But since last summer I’ve noted a major slow down in the New Orleans half eagles I’ve handled. I don’t think I’ve owned a single 1842-O or 1847-O this year and the only Uncirculated pieces of note that I’ve handled have been the more available dates like the 1840-O, 1844-O, 1845-O, 1846-O and 1854-O. So where are the coins? (more…)