In Liberty Proof Set, Gold Still Glitters
Question: I have two separate gift boxes of the United States Liberty three-piece proof set that includes the $5 gold piece. In your column on July 31, you stated that this set sells for $475. Whom may I contact and where may I sell this set for $475? I am only interested in selling one of the sets. I am not a coin collector, so please provide as much information as possible.--M.F.F.
Answer: Few recent releases have created as much interest as the commemorative Statue of Liberty coins. The economic principle of supply and demand is what is proven daily in the marketplace as collectors and non-collectors alike maneuver for these desirable pieces. It is the $5 gold piece that is especially elusive, because uncirculated and proof versions were made in limited quantities. And because fewer uncirculated coins were produced than proofs, they now carry a bigger premium.
However, prices vary on these coins, as they do on most denominations, and what was true in July is not necessarily true in September. The current retail price for the three-piece proof Liberty set, for example, is $450. That’s still better than double the initial issue price but not as good as the price in July when Statue of Liberty fever was still raging.
But it would be unrealistic to expect to get top dollar for your coins unless you are able to sell them privately. Most transactions are handled through dealers, and the current buying prices from dealers is in the $390-to-$410 range. The difference between the buying and selling prices is the dealer profit, which is not unreasonable considering the overhead, expertise and market risk factors dealers experience.
For sets such as yours, you can probably do most or all of your negotiating over the phone. Try several dealers in order to get the best price. Dealers who are well stocked with a particular coin or set will not be as willing to pay as much as dealers who are short of such coins or sets and have ready buyers. Most coins, however, have to be seen to be properly evaluated. This is especially true with rarities. A slight grading variation can greatly raise or lower the value of such coins. However, with Statue of Liberty coins that have been left undisturbed in their original plastic containers, a phone call will do.
Coin News
An original “Searchers for the Messiah” lithograph in 15 colors is featured on the obverse of a new Israeli fine art medal. The design (pictured) by Moshe Castel is inscribed with the title and artist’s name in English and Hebrew. The reverse depicts figures of a man and woman with interlaced arms and the inscription “Everlasting Love.” The signed and numbered medals are available in bronze (5,000 issued), silver (4,500 and 1,800 in two sizes), 18-karat gold (3,500) and 22-karat gold (1,200). Brochures and prices are available from the Israel Government Coins and Medals Corp., 350 Fifth Ave., New York, N.Y. 10118; telephone (212) 560-0690.
Coin Calendar
Friday, Saturday and Sunday--About 150 dealers are expected at the Seventh San Diego Coin Show. Virtually all areas of coin collecting will be represented at the show at the Holiday Inn at the Embarcadero, 1355 N. Harbor Drive, San Diego. Hours are 10 a.m. to 7 p.m. Friday, 10 a.m. to 6 p.m. Saturday and 10 a.m. to 3 p.m. Sunday. Seminars will be conducted Saturday at noon. Show admission is $2. For information, call (619) 273-3566.
Don Alpert cannot answer mail personally but will respond to numismatic questions of general interest in this column. Do not telephone. Write to Your Coins, You section, The Times, Times Mirror Square, Los Angeles 90053.