The market continues to show strength in the area of key gold coins, with buyers coming from those established in the hobby and new interest arising from investors who are just being introduced to the market and view classic gold coins as a safe store of wealth.

At Heritage Auction Galleries' recent Long Beach auction, the 1856-O Coronet $20 double eagle graded Specimen 63 by Professional Coin Grading Service sold for its reserve at an astounding $1,437,500. While the catalogers termed it the finest known example of the rarest New Orleans Mint double eagle, it's arguably not one of the most well-known rarities. In 2002 the same coin sold for $310,500 and in 2004 it realized $542,800 – its recent sale represents substantial appreciation from its last auction appearance.

The Heritage Long Beach auction result, combined with the sale of a three-piece 1843 Proof set containing a Coronet $2.50 quarter eagle, $5 half eagle and $10 eagle by Blanchard and Co. for $937,765 that was reported in the June 15 Coin World illustrates that the top end of the market is still hungry for irreplaceable coins.

Another bright area was high-end pattern coins. At the same Heritage auction, several exceptional examples surpassed expectations at the six-figure level including a remarkable 1942 Lincoln cent aluminum pattern graded Proof 66 by PCGS that realized $126,500.

The pre-Long Beach auction by Ira & Larry Goldberg Coins & Collectibles also showed steady demand for high-end gold, with many pricey lots finding buyers, including an 1930-S Indian Head $10 eagle in PCGS Mint State 66 that sold for $80,500 and an 1879 Flowing Hair $4 Stella graded Proof 64 cameo by PCGS that sold for $143,750. Comparable prices at public auction within the last year show these coins at $92,000 and $195,500 respectively.

Collectors also showed a hearty appetite for early Capped Bust $10 eagles in the Goldbergs auction, purchasing all five offered 1795 examples at prices ranging from $92,000 for an MS-61 coin to $49,450 for an AU-50 coin.

A 1797 Capped Bust, Small Eagle $10 eagle went unsold at a $300,000 to $500,000 estimate.