October, 2004 Page 1 Page 2 Page 3 Page 4 Newsletter IndexHome

Page 1

      Most rare date gold coins have not risen or dropped significantly in price over the last four years. 

      Meanwhile, coin prices have shown upward strength in virtually all other areas.  There is no conclusive explanation as to why gold has been “left behind.” 

      Perhaps, as pointed out in earlier editions of Rare Coin Report, this is due to the constant regrading of gold coins by dealers, which has inflated PCGS and NGC population figures for rare gold,  making it appear like

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      Today’s collector’s market is less driven by economic factors than perhaps any time in recent memory. That being said, market conditions now favor coin purchasing as well as any market in recent history. 

      This seeming contradiction is bridged by an understanding of just what comprises a “collector-driven” market.

      In its essence, a collector driven market means that investment for profit is not the main motivation for most buyers. 

      Yet - and here is the key - the lack of robust opportunities in traditional investment venues means collectors at all levels are not tempted to stop buying coins to take advantage of a “great” investment opportunity.  This contrasts with conditions during the Dot.com boom, where many collectors stopped buying coins in order to take advantage of

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      The Judd 2003 catalogue thrust Pattern Coinage into the numismatic mainstream.  It answered many questions, but  raised others.

      One persistent question is: How many pattern coins exist? Using the Judd 2003 catalogue I discovered some extraordinary results.

      Judd 2003 catalogues 2190 pattern coins, of which 247 are

of questionable existence, leaving 1943  confirmed patterns.

      Using minimum and maximum mintage figures, and excluding the four Rarity 1 issues (1250 or more), total pattern population is between 12,800 and 23,751.

      Of those, 830 issues, totaling between 1379 and 1928 total coins are unique

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Pattern Coin News

Numbers Reveal Patterns More Rare

Than Previously Thought

Rare Coins and the Economy


Gold Coin Bargains?

Stagnant segment shows life

“Attractive Patterns in the Rarity 5-Rarity 7 range number only about six to ten thousand total coins.”

Text Box: Message from the Owner

	First, a big THANK YOU!  to everyone who has bought or sold during recent months. So far, 2004 is a record year for CNP.  It has been and remains a pleasure to work with all of you, and I’m looking forward to more, especially with market conditions being so favorable now both for buyers and sellers.
	Second, this issue marks the fifth straight year of tri-annual publication for Rare Coin Report.  A special thanks to B.J. Benton of Texas for her enthusiasm for this publication, and her encouragement to make it a regular feature. 
	 Finally, our email hot list continues to grow.  Please email me at nofreelunch@earthlink.net to add your name.
  — Lawrence Goldberg
Owner of CNP
Text Box: What Patterns Are Made Of
(see page 3]