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


I can pay top dollar for the following:

All US Coins Including:

Flying Eagle, Indian Head and Wheat back Cents,

“V” and Buffalo Nickels,

 Pre-1965 silver dimes, quarters and half dollars of all designs and grades; U.S. Mint and Proof Sets

Morgan & Peace Dollars

All Gold Coins,  Patterns,

Old US Currency,

Foreign Coins/Currency

Watches, Diamonds

Famous autographs




Customized Numismatic Portfolios

CALL TOLL FREE  800-334-3325              E-Mail: NoFreeLunch@earthlink.net

à          What Patterns Are Made Of

à          Economy Favors Coin Market

à          Patterns—Rarer Than Assumed

à          Rare Date Gold Comeback?

à          Grading & Rarity Scales

à          Coins as a Legacy


For a FREE portfolio analysis, specific questions on the direction of the coin market, or to buy or sell coins, please call me, Lawrence Goldberg, toll free at

(800) 334-3325

Rare Coin Report © is published by Customized Numismatic Portfolios, 2219 West Olive Ave.  # 218, Burbank, CA  91506  e-mail:  Nofreelunch@earthlink.net

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Pattern Coins

      Even if we add back in all Rarity 8 and unique coins, the total increases a maximum of less than two thousand.  

      This conclusion is supported by the PCGS and NGC population reports, which show the total number of certified pattern coins now stands at 12,941 and includes the most populous issues.  This number, which includes re-graded coins has grown less than 10% since 2000, indicating that a huge percentage of all pattern coins that can be certified have been certified.        The “collectible” numbers are even more enticing if we focus on only Rarity 6 and Rarity 7 patterns, which comprise 1097 designs, and together with Rarity 8 and Unique coins comprise 1857 designs, or 85% of all pattern designs.  Total possible mintage for R6 and R7 is between 7254 and 11,355 of which only about 4790 to 7500 are attractive.

  This roughly equals the number of Judd 2003 pattern books which so far purchased.   Not only are pattern coins even more rare than heretofore thought, but interest in them by the collecting community is growing and is already extensive enough to continue driving prices higher.  Rising prices should increase collector interest, which should force prices continually higher.  It is a cycle that will make a lot of people a lot of money.




The increase in pattern coin prices over the last three years has enticed some long term pattern collectors to sell —often at huge profits— creating a superb buying opportunity for pattern coins.

  At first, this seems contradictory. How can rising prices present a good buying opportunity?   The answer is simple.    Higher prices entice people to sell, which in turn creates available supply levels temporarily more than sufficient to satisfy buyer demand.  This is reinforced by the fact that we are at the beginning of summer, traditionally the “slow” time for coin  buyers.  The net result is that many outstanding pattern coins are trading at a discount from their recent highs.

  It must be stressed that this condition is temporary.  This started several months ago, and will likely continue through the summer, traditionally a slow season for coins.  It must be viewed  in context of the strong increase in pattern coin prices from their lows four to five years ago. Expect the lull to continue only until Fall, 2004. 

  The long term prospects, however, continue outstanding.  There are so few patterns in general, the steady increase in pattern buyers will eventually squeeze the supply.  

  The significance of this cannot be overstated.  he total number of pattern coins certified by PCGS and NGC now stands at 12,842.  This includes all designs and all grades, and counting any coins that have been sent in for certification more than once.

  I am working on a statistical abstract about pattern coins that will be published in its entirety next issue, but I will mention one figure now.

  Taking into account the mintage records as printed in the new Judd Book, the maximum total possible mintage of pattern coins, including all grades and all designs, is only about thirty thousand.  That is thirty thousand possible total coins!!  The actual total mintage figure could be as low as twenty three or twenty four thousand. 

  That is unbelievably low.  By comparison, it is barely more than the total St. Gaudens certified by PCGS and NGC in MS-66 or better.  When compared with the one hundred sixty million US coin collectors, it is obvious that the potential demand and such a small supply could drive pattern prices into the stratosphere.  This is especially true considering that many pattern coins have been destroyed, damaged, or lost.

  See next issue for a more detailed analysis.