Monday, August 19, 2013

Weekly Market Watch

This market watch examines CT auctions & sales from August 11 through August 17. This week four American tokens brought strong bids in the StacksBowers ANA auction. Ebay action was moderate with 34 CTs sold from Scotland and Canada.
     I will start with the ebay sales. Of the 34 CTs sold, only one sold for over $50, whereas six more sold for over $20. The remaining 27 were bargain-priced under this amount. Hence, there were many opportunities to get started in this collecting field.
     The top CT sold for a BIN price of $56. The piece was a round one, dated 1713, from Monzie in Perth (BK828/B4921). It was an ashen piece from an old collection. Monzie produced two other tokens, both ovals in 1838 and 1843, so this was a nice opportunity to get an early one listed in Brook. Dated pieces from the eighteenth century are always popular and typically bring good prices. The CT was sold by HistoryinCoins. This seller has maintained a strong presence on ebay and is recommended.
     The StacksBowers auction was a week-long event held in conjunction with the ANA World's Fair of Money in Chicago. Top bidders were attracted from everywhere, so it comes as no surprise that the four CTs offered as part of the John J. Ford, Jr., collection of tokens and metals sold for strong prices. Nonetheless, I think the buyers got a deal. American tokens are all scarce to rare.
     The CT from Brooklyn, New York, attracted a winning bid of $425 (that is without the 18% commission). The Internet pre-bidding stalled just shy of $300, so the live session was active with at least five more bids pushing this one well into the HD range ($100+ CT). It is a beautiful oval with a muted-silver patina and few distracting blemishes.
     The other three CTs were also from New York. They were of the same design but produced in three  different metallic compositions: copper, lead and white metal. They would make a nice set. The copper piece was graded MS-62 (red & brown); it was won for $260 during the live bidding session. The lead one was graded AU-55 and sold for $190. Finally, the white metal example garnered $220; it was graded MS-60. I wonder if the same bidder got them all? A complete set for $670 (plus bidder's fee) looks like a good buy. When will a second chance come along?
     In my opinion, these sales accurately reflect the retail market for USA CTs. These particular specimens are rare and in excellent condition. Plus, they come out of a well-known collection.  

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