|Heritage Returns to Long
Numismatic Auctions, Inc (HNAI) will hold our upcoming
Signature Auction September 21-24, 2005 as the official
auctioneer of the Long Beach Coin Expo. This event marks our
55th turn as official auctioneer in Long Beach, and the
show gets more exciting each time we return. We're offering over
15,000 lots over four venues - our Signature auction, our Online
Session (formerly known as the Bullet Auction), our Currency
Auctions of America event, and the Heritage World Coins Auction. I
think it's safe to say that this grand event includes something for
There are several important anchor consignments in this auction,
including the Oak Collection of American Colonial Coinage and the
William Harmon Collection of Half Dimes, both of which have been
covered in previous issues of Coin and Currency News; the Thomas D.
Wolfe Collection, profiled separately below; and the Daniel Biddle
Registry Collection of Washington Quarters and the Ken Arnold
Collection, each of which will be profiled in detail in coming
issues. Other anchor consignments include the William Bickel
Collection, Part Two, the Alan Bingel Collection of Gold &
Silver Ingots, Part Two, the Larry Rausch Collection of Errors,
Part Six, and the William Waste Collection.
The world-renowned collection of "Snow" Variety Indian Cents
formed by Allan W. Mays Sr. is well known to the readers of
Longacre's Ledger. This magnificent collection of Snow
varieties - well in excess of 100 pieces - will be avidly pursued
by variety specialists.
Highlights of the Allan W. Mays Sr. Collection of "Snow" Variety
Indian Cents include:
The Robert Leach Collection of Washingtonia is somewhat
different than the other offerings in this auction. A long-time
collector of coins and currency, Mr. Leach sold his prior
numismatic collections, and began to search out the medallic art of
George Washington. Combining a fascination with both history and
numismatics, Mr. Leach was looking for something a little different
to collect, and in the process rediscovered one of the core
collecting areas of Americana.
Highlights of the Robert Leach Collection of Washingtonia
Aside from the great anchor collections featured so often in
Heritage Signature Auctions, there is simply a fantastic selection
of coins in this fall's Long Beach auction. Two legendary gold
rarities are the 1870-CC Double Eagle and 1854-S Quarter Eagle,
each of which is represented in this auction. A PCGS-graded 1909-S
VDB cent in MS67 Red and an MS64 1916 Doubled Die Nickel represent
terrific combinations of 20th century desirability and quality. One
of the most intriguing coins in this auction is a 1820 quarter; not
rare in its own right, yet this is one is a proof and thus
tremendously rare and coveted.
Highlights of the Long Beach Signature Auction include:
1864 1C L On Ribbon PR64 Red and Brown NGC. PR-2. Ex: Richmond
1909-S VDB 1C MS67 Red PCGS.
1914/3 5C MS65 NGC.
1916 5C Doubled Die Obverse MS64 PCGS. FS-016, Breen-2599.
1830/29 10C MS67 PCGS. JR-4, R.2
1942/1 10C MS66 Full Bands NGC. FS-010.7.
1875 20C PR67 Cameo NGC.
1820 25C PR67 NGC. B-1, High R.7-R.8 as a proof.
1929-S 50C MS67 NGC.
1851 $1 Original MS62 PCGS.
1848 $1 PR64 NGC.
1873-CC T$1 MS64 PCGS.
1895 $1 PR63 PCGS.
1896 $1 PR68 Ultra Cameo NGC.
1802/1 $2 1/2 MS64 NGC. Breen-6118, Bass-3009, R.4.
1854-S $2 ½ XF Details ANACS. Ex: Atwater Collection.
1879 $4 Flowing Hair, Judd-1635, Pollock-1832, 1833, R.3, PR62
1795 $5 Small Eagle MS60 Prooflike NGC. Breen-6414, B. 4-D,
Miller-6, S over D, R.5.
1862 $5 PR64 Cameo PCGS.
1909-O $5 MS63 PCGS.
1863 $10 PR64 PCGS.
1896 $10 PR65 Ultra Cameo NGC.
1853/2 $20 MS61 PCGS.
1861-S $20 Paquet AU53 NGC.
1870-CC $20 XF40 NGC.
1864 $20 PR64 Cameo NGC.
1907 $20 High Relief, Wire Rim MS65 PCGS.
This auction is open for bidding now at www.HeritageCoins.com.
To purchase a catalog for any Heritage Auction, please contact
Nicole Jewell at Heritage Numismatic Auctions, Inc., 3500 Maple
Avenue, 17th Floor, Dallas, TX, 75219 or visit HeritageCoins.com to
order by credit card.
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The Thomas D. Wolfe
Collection of American Type Coins
The Thomas D. Wolfe Collection of American Type Coins, formed
over half a century of collecting, will anchor Heritage Numismatic
Auctions' Sept. 21-24 Long Beach Signature Auction. Heritage is the
Official Auctioneer of the Long Beach Coin Expo, and Signature
Auctions will be presented there by
Heritage Currency Auctions of America, and
Heritage World Coin Auctions. The online catalogs have been
posted at www.HeritageCoins.com,
and all three auctions are now open for bidding.
Thomas Wolfe fell in love with rare coins as a young man, and
took his first table at the Omaha Coin Show in 1959. That same
year, he decided to become a professional dealer in better-quality
antiques, rather than specializing in numismatics. While he
continued to buy and occasionally sell coins for his personal
collection, numismatics was approached much more as a hobby than as
a business. He has now been a fixture on the Omaha antiques scene
for more than a quarter century. Mr. Wolfe is also an inspiration
for runners everywhere; he has been an avid runner for decades, and
he still runs every morning at he age of 75. He completed his last
marathon at the age of 70.
Mr Wolfe's collection covers the range of American numismatics,
from Half Cents to gold Territorials. It includes many classic type
coins, and nearly every collector favorite - coins like the 1922 No
D and 1955/55 Doubled Die Cents; the 1918/7-D, 1921-S, and 1924-S
Buffalo Nickels; the 1916-D, 1942/1, and 1942/1-D Dimes; the 1916
Type 1 and 1927-S quarters; the 1932-D & '32-S Washingtons; and
a pair of Gobrecht Dollars. His collection is especially strong in
Walking Liberty Halves and early Dollars. These are coins that
every collector will appreciate and covet.
Here are just a few of the highlights of Mr. Wolfe's wonderful
1937-D Three-Legged Buffalo, MS64 PCGS
1916-D Mercury Dime, MS61 Full Bands NGC
1921-D Mercury Dime, MS65 Full Bands PCGS
1796 Quarter Dollar, B-2, R.3, VG8 PCGS
1901-S Barber Quarter, VF35 PCGS
1916 Standing Liberty Quarter, MS61 NGC
1928-S Standing Liberty Quarter, MS67 Full Head NGC
1930-S Standing Liberty Quarter, MS67 Full Head NGC
1795 Half Dollar, 2 Leaves, O-119, R.4, AU50 PCGS
1795 Flowing Hair Dollar, Three Leaves, B-5, BB-27, R.1, AU53
1798 Small Eagle Dollar, 15 Stars, B-2, BB-81, R.2. Die State II,
1836 Gobrecht Dollar, Name on Base, Judd-60 Original, Pollock-65,
R.1, PR50 ANACS
1855 $1, AU55 PCGS
1869 $1, PR63 PCGS
1929 $5, MS64 PCGS
1928 Hawaiian Commemorative Half Dollar, MS65 PCGS
1851 Humbert Fifty Dollar, 880 Thous., K-5, Low R.5, VF30
1851 Humbert Fifty Dollar, 887 Thous., K-6, R.4, XF40 PCGS
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Found Treasures: 1971-D Half
by Stewart Huckaby
ago, in an article about a Dallas Federal Reserve Bank Note, I
brought up a place where a few of us like to go to lunch on
occasion. Sammy's BBQ, literally in the shadows of the Dallas
Federal Reserve Bank, serves a pretty good BBQ Sausage plate,
although they never seem to put quite enough sauce on for my
tastes. If you're in town and decide to go, make sure you miss the
lunch crunch, since the line runs all the way through the place and
out the back door.
For reasons I wouldn't even begin to speculate about, Sammy's is
also somewhat numismatically interesting. Probably six months ago I
found a 1923 cent in change there, and although this coin, grading
Fine, was only worth about a quarter, it ranks to this day as the
second oldest coin I've ever found in change (the oldest was a 1917
cent I got from a coin dealer in Sacramento. Like that was by
accident... :) ). But what brings about this article is that
Sammy's may be the last of a dying breed. For my BBQ sausage plate
and soda, costing $10.34, I'll give them $11, and in return they'll
give me a cent, nickel, dime... and a half dollar. Always a half
dollar. If you want two quarters instead, you have to ask.
Heritage, like probably all coin dealers, gets repeated calls,
questions, and e-mails about ordinary date clad Kennedys simply
because the half dollar is an unusual denomination today. The
answer is always the same: "Spend it." But when was the last time
you received a half dollar in change? When was the last time you
spent one? Did the person handling the cash even know what it was?
The mint doesn't even release half dollars for circulation any
more; if you want this year's model, you have to buy it directly.
There was a time, maybe 25-30 years ago, when now and again
merchants would actually keep them around and give them to you as
change. Now? You can't use them in vending machines, and the only
time you get them in change under most circumstances is if you see
one in the register and ask for it.
Probably the most common use for half dollars these days is as
gambling tokens, similar to how the Sacagawea and SBA dollars work
very well as postal and transportation tokens and almost not at all
elsewhere. It's not at all difficult to find half dollar machines
in larger casinos, with a nice selection of coins covered in nicks
from repeatedly falling into the pay drawer of a slot machine. Half
dollars also work very well when a dealer pays off 3-2 on my $5 bet
when I have an ace under that face card at the blackjack table,
something that unfortunately happens about as often as a chilly day
in a Dallas summer.
I chose the 1971-D half dollar as the subject coin for this
article because it is a common coin in an unusual denomination. It
was made during the first year of the copper-nickel clad
composition for half dollars; previous clad half dollars including
the non-circulating 1970-D contained 40% silver. It is the highest
mintage Kennedy Half Dollar, and was far and away the most common
circulating half dollar during the 1970s (Bicentennial Halves,
despite a mintage nearly as high at each mint, were often saved and
never entered circulation), and as a copper-nickel clad coin is
still quite common in circulation, at least when half dollars do
Does the 1971-D Half Dollar have any value? Yep. The vast
majority are worth fifty cents, like other circulating
copper-nickel clad Kennedys. The highest grade coins, of course,
will bring a premium. An MS66 of this date (far and away the most
common certified grade for this coin) might sell for $15 or so at
auction, with an MS67 in the $30-50 range. There are four coins of
the date certified as MS68, two each from PCGS and NGC, with values
that can only be determined the next time they appear in a public
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Website Tips: Tips For New
Here at Heritage, new bidder-members join our site all the time.
Many of them have questions about the bidding process, and we'll
sometimes take them through the process of placing a bid. Here are
a few basic tips that we think might be helpful:
- Place a practice bid. Heritage has auctions going all
the time, and there are often items available for which the current
bid is far less than what the item will realize. If you've never
placed a bid, find an item which has not yet received any bids that
will sell for, say, $100 or more (hundred dollar bills and gold
coins work well for this purpose). Then bid one dollar. This will
show you how the mechanics of the bid process work. Note that all
bids, even practice bids, are binding, so make sure that you're
willing to pay what you bid!
- Use your secret maximum bid. If you know what you're
willing to pay for something, bid it. Your maximum bid is known
only to you, not to other bidders, and will not show publicly on
the website. Because you've placed a bid on something does not mean
that you will pay the full amount of your bid if you win. We often
hear that someone was "willing to bid more" on an item. They would
likely have won the item had they actually placed such a bid!
- Know what the current bid means. The current bid showing
on any lot is a number calculated as the lesser of (a) the maximum
bid on the lot, and (b) one increment above the second highest bid
on the lot. You can find a list of increments at the bottom of each
individual lot page. In most cases, the current bid tells you
nothing about what the lot's high bid is; the high bid can be
anything from the lot's current bid up to the Gross National
Product of a small nation. Any lot with a current bid of $0 has
received no bids; any lot with a current bid of $1 has received
exactly one bid, but that bid may be of any amount.
- Bid early. Your frustration level increases the closer
you are to the end of an auction when you place your bid. If you
know what you are willing to pay for something, bid it early, The
earliest bid always wins tiebreakers, and because your maximum bid
is secret, your bid will work against all other bidders until and
unless someone beats it.
- Learn how to track items. You can find this information
Website Tips section on our website.
- Use MyBids. Once you've placed your bids, you can follow
the progress of all items you've bid on from the Heritage MyBids
page. Here you will see every item you've bid on, including your
secret maximum bid, the current bid, the next bid, and the time
remaining for Internet bidding.
- Use Batch Bidding to save work. Instead of entering your
bids individually for every item, try tracking items, then placing
bids on the ones you're interested in from either the MyBids or
MyTrackedLots page. Batch bidding is a great labor-saving device,
but it is neither recommended nor reliable as a sniping tool.
- Know the Buyer's Premium. Heritage charges a 15% Buyer's
Premium on all coin, currency, and comic auctions; this figure is
19.5% in other venues. In either case, the minimum Buyer's Premium
(also known as BP) is $9. Take this into account when you place
your bid; we don't want you to bid $1 on a cheap item and be
surprised when the invoice for $10 comes due! The website will
calculate the BP for you throughout all steps of the bidding
process (except batch bidding).
- Watch the reserve status. Some items in Heritage
auctions have reserves. Reserves are placed on lots three days
before the end of the auction for sales that take place only over
the Internet, and seven days before the end of the auction for
sales that end with a traditional floor session. Each individual
lot page will show the item's reserve status ? whether a reserve
has been placed, whether it has been met, whether there is no
reserve, or whether the item has not yet come to the point when
reserves will be placed. If, when a reserve is placed, it is higher
than the previous high bid on the item, the current bid on the item
will be raised to the reserve, and the next bid will also be equal
to the reserve. Of course, if a reserve is placed and it is less
than the high bid on an item, it is irrelevant.
- Know your auction. Heritage holds two types of auctions.
Signature Auctions take place both on the Internet and in a
traditional floor auction session. The Internet session will end at
10 PM Central Time the day before the floor auction, and the floor
auction will open at the item's Current Bid, defined above. There,
the winning Internet Bidder's secret maximum bid will work for him
until he wins the lot or until he's outbid. When you bid in a
Signature Auction, remember that you are not just trying to outbid
Internet Bidders; you will be competing against phone, floor, and
podium bidders as well. Other Heritage Auctions including
Exclusively Internet Auctions, Continuous Internet Auctions,
Internet Currency Auctions, Online Sessions, Amazing Comics
Auctions, and Amazing Sports Auctions, take place only over the
Internet. In these auctions, you compete only against other
Internet bidders. The type of auction is visible on the description
page for each item.
We want your bidding experience to be pleasurable and rewarding.
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|Coin collectors like to collect by type, a specific combination
of design and denomination. Most coin types have descriptive names,
such as the Lincoln Cent or the Standing Liberty Quarter. However,
collectors commonly refer to some US coin types by names that would
baffle the non-collector. These types of coins were named after
their designer, and are the familiar Barber, Morgan, and
| Barber Dimes,
Quarters, and Half Dollars were minted beginning in 1892 until 1916
(1915 for the Half Dollar). Designer Charles Barber was the Chief
Engraver at the Mint during this time, and he has developed a
reputation in subsequent years of being perhaps the foremost
obstacle for quality artistry actually appearing on US coins in
production at the time. Barber was a second generation Chief
Engraver, following his father William Barber, designer of the
Trade Dollar and Twenty Cent Piece. Charles Barber also designed
the Liberty Nickel, a coin which shares the Barber silver coins'
common characteristics of low relief and unimaginative artistry,
but not his name. Interestingly, he also designed several early
commemoratives, and while most are ho-hum artistically, he is
credited with designing the Panama-Pacific Half Dollar and Quarter
Eagle, both strikingly beautiful coins.
| Morgan Dollars are
probably the first thing you see when you walk into a coin show or
a coin shop. These large, familiar pieces were minted from 1878 to
1921 and were designed by George Morgan, an Englishman and former
pupil of the Wyons who was hired at the Mint because of the Barber
father and son's perceived lack of engraving skill. Besides the
well-known dollars that bear his name today (they were
contemporarily known as Bland dollars), he designed a number of
beautiful patterns along with several commemoratives. Morgan was an
Assistant Engraver to Charles Barber throughout most of his career,
ascending to the Chief Engraver's job only after Barber's death in
1917, when he was already in his seventies and well after his peak
| Saint-Gaudens Double
Eagles were designed by the renowned sculptor Augustus
Saint-Gaudens, perhaps America's foremost sculptor of the late
19th and early 20th century. President
Theodore Roosevelt hand-picked Saint-Gaudens to redesign the Double
Eagle and Eagle in the first years of the 20th century,
and the result was a breathtaking piece of numismatic art,
comparable perhaps only to the finest high relief coins of the
ancient Greeks. Unfortunately, the high relief proved impractical,
and Charles Barber, who if nothing else had an eye toward
practicality, chose to lower the relief of the coin substantially,
bringing about what we now know as the Saint-Gaudens Double Eagle,
minted from 1907-1933. Saint-Gaudens also designed the Indian Head
Eagle minted over the same period of time, and his numismatic
legacy lives on even today with the gold American Eagle.
Saint-Gaudens also began work on a redesign of the cent, a concept
that never made it even to the pattern stage. He died in 1907
without ever seeing his coins enter circulation.
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