6 Rare Coins That Will Spike in Value in 2024
Like most markets, the market for rare and collectible coins is as vulnerable to volatility and price swings as any other — and many coin experts expect plenty of volatility in 2024 due to the broader economic climate. This means certain rare coins will significantly rise in value in the coming months.
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A recent blog from Numismatic News predicted that there “could be a surge” of people selling their coins in 2024 to help pay living expenses. But there could also be a “surge of buying interest” — especially for gold and silver amid a slump in the dollar.
The Coinage website offered a similar take in a recent blog, noting that conditions in 2024 “could lead to a coin market with many moving parts.” Here are six rare coins that could see a spike in value this year, with descriptions provided by Coinage.
1. Early $5 (Half Eagle) Gold Pieces: The eagle $10 gold piece was produced from 1795 to 1804, while the half eagle ($5 gold piece) was issued nearly every year from 1795 on and the quarter eagle ($2.50 gold piece) appeared “somewhat sporadically.” Coin prices for early half eagles that are lightly circulated start at about $15,000 and can go into seven figures. There is an “insatiable demand” for the 1798 half eagle with a small eagle reverse. The demand is similar for the 1795 half eagle with the small eagle on the reverse.
2. Type II and III Liberty Head Double Eagles. The highest demand for these coins is for those graded Mint State (MS) 60 through 63. The Saint-Gaudens double eagle ($20 gold piece) is a “superstar” of U.S. gold coinage and has been hailed by some as America’s most beautiful coin. The double eagle $20 gold piece first arrived in 1849 and gave way to the Type II in 1866. In 1877, the Type III was minted. Some experts say the Type II and III examples in mint condition are “considerably rarer” than Saints in mint condition. An 1889 S Liberty Head double eagle graded MS-63 is worth about $3,900.
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3. ‘Scare-Date’ Morgan and Peace Silver Dollars: Morgan silver dollars reign as “kings of the hill” because they are large coins with high precious metal content. They are also old, dating to the 19th century, and are well preserved because millions never left bank and government vaults. The 1886-S Morgan dollar and 1928 Peace dollar are both available in MS-63 for about $1,000 each and have seen “consistent demand.”
4. Mercury Dimes from the 1940s. The most valuable of these coins are graded MS-67 with full bands. Some can command “outrageous prices,” though it “can be fun” to assemble partial sets with coins costing about $200 apiece.
5. 1909-S Lincoln Cent: One of these Lincoln pennies graded Extremely Fine or better condition can fetch about $200, while the scarcer versions in Mint State-63 might sell for “several times as much.”
6. Franklin Half Dollar: Franklin Half Dollars graded MS-66 or higher command the highest prices and in some cases can sell for five figures. This series began in 1948 but ended 16 years later following the assassination of President John F. Kennedy, Although there are “no major rarities” in the Franklin Half Dollar series, you can find some error versions that are hard to find because they have subtle details missing. These versions command “substantial premiums” in higher grades.
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