SS Central America vs. Wells Fargo Nevada Gold

SS Central America vs. Wells Fargo Nevada Gold

Post by David Rya » Sat, 12 Feb 2000 04:00:00

               Total     Total   *Price       *Price   Actual After    
               Old Pop   Hoard    Before        Now    Results

1857-S MS60+      37     ~5200     $6440(62)   -----
1850-66NM 60+   1027     >5200     $6195(62 type)

1908NM MS66     3905      6334    ~$2700       $2250    $1427**
1908NM MS67      102      1663    $12300       $8100    $6612***

*   Price, Numismedia fmv
**  Heritage FUN 2000 Signature, average of 3 MS66 Lots 7983-5 (old)
      However, a Wells Fargo slab (66) sold for $3220
      Lot 573 FUN Bullet, so hype did have an effect on 2 bidders
      A WFNG lot on Teletrade late last year was bid to only $1750,
      but did not meet the seller's reserve and was not reauctioned.
*** Heritage Santa Clara Signature, Nov.1999, MS67 lot 7028

Retail:  In late 1999, Tulving was selling old NM 66 slabs for $1895
  and Wells Fargo 66 slabs for $2295.  Now, Tulving no longer lists
  Wells Fargo for sale (except MS68) and lists 1908NM for $1695.
  Poor suckers who bought 1908NM last year!

SS Central America will have a larger effect on the availability of
MS T1 G$20 than WFNG had on high grade 1908NM.

The reported $100 million price for 3 tons of gold works out to
around $1000/oz or 4 times bullion.  Coin sales will have to be
much higher than that to offset lower premiums on large bars.
2000 is NOT the 21st century.  2001 is.  You can look it up at U.S.
Naval Observatory


SS Central America vs. Wells Fargo Nevada Gold

Post by Clint Cummi » Sat, 12 Feb 2000 04:00:00

>               Total     Total   *Price       *Price   Actual After    
>               Old Pop   Hoard    Before        Now    Results

>1857-S MS60+      37     ~5200     $6440(62)   -----
>1850-66NM 60+   1027     >5200     $6195(62 type)

>1908NM MS66     3905      6334    ~$2700       $2250    $1427**
>1908NM MS67      102      1663    $12300       $8100    $6612***

     Thanks for posting this interesting data.  In terms of
"Price Before", I am not sure the Wells Fargo and SS Central America
events are very comparable, though.  This is because the Wells
Fargo was a "true surprise", with no advance information,
while the SS Central America find was roughly known in 1987, very
much prior to sale.  So, as in my previous post on this subject,
the market should have already anticipated (to some extent) an
increase in supply of dates from 1857 and prior.


Clint Cummins