October 21, 2005
This Week In Coin & Currency News
The Phillip H. Morse Collection at Platinum Night
Seldom Seen Selections: 1896-S Morgan Dollar, MS69 (!), and a Beautiful Bride
Website tips: Selective MyBids
Numismatic Glossary
Help Wanted: Numismatist
Around Heritage Galleries
Coin Club Outreach Program
Instant Quiz: Test your numismatic knowledge
Is It Time To Sell? 2006 January Orlando, FL (FUN) Signature Auction
Current Auctions: 2005 November Palm Beach, FL The Phillip Morse Collection, 2005 November Palm Beach, Florida Signature Auction, 2005 November Palm Beach, FLorida Online Session, Exclusively Internet Auction, Continuous Internet Auction, Internet Currency Auction, Fine Art Monthly Auction, Amazing Sports Auction, Internet Movie Poster Auction, Amazing Comics Auction
Weekly Specials: Don't miss out on a great deal

Collector News
The Phillip H. Morse Collection at Platinum Night

The Phillip H. Morse Collection of Saint-Gaudens Coinage, the finest collection of the coinage designed by Augustus Saint-Gaudens to ever be sold at public auction, will anchor Heritage's November 3rd Platinum Night session in Palm Beach, Florida. In addition, the finest and rarest coins of our November 2-5 Palm Beach Signature Auction will be offered on the same night. Just between the collections of Phillip Morse and Jack Lee, we will be offering more than $25 million of supremely rare coins.

While there are many amazing Double Eagles in the Morse Collection, the two most extraordinary and most valuable are his essentially perfect MCMVII Ultra High Relief, certified by PCGS as PR69, and his 1927-D $20, certified MS67 by PCGS. Together, these two coins are expected to realize around $5 million. Additional seven-figure prices are expected for Mr. Morse's Arabic Numerals 1907 Double Eagle with Small Edge Letters, certified PR68 by PCGS, and his finest known 1921 Double Eagle, an incredible MS66 specimen.

Mr. Morse's Ultra High Relief is the most perfect embodiment of Theodore Roosevelt's charge to Augustus Saint-Gaudens, America's foremost sculptor, to produce a new coin design worthy of American aspirations and ideals. This Ultra High Relief was struck seven times on a medal press in order to fully bring up all the details in the dies; between strikings, the annealing process heated it to a cherry-red color and then cooled it in a weak solution of nitric acid. The result was a surface of nearly pure, glittering gold that gives Ultra High Reliefs their distinctive appearance. This is the only PR69 Ultra High Relief Double Eagle in existence.

Lot 6522: 1907 Ultra High Relief Double Eagle, Lettered Edge PR69 PCGS
Ex: Purchased by NERCG/Jim Halperin as part of "The Million Dollar Set" (Captain North) of 1907 coinage from Stack's in April 1980; Boston Jubilee Auction (NERCA, 7/80), lot 323; Trompeter Collection; Heritage private sale, 1999; The Phillip H. Morse Collection.

Mr. Morse's 1927-D Double Eagle is also the finest known example of this legendary issue. Certified by PCGS as MS67, it is the finest surviving specimen of the rarest U.S. gold coin of the twentieth century - which is also the rarest American coin of any denomination or metal from this century. Fewer than 12 pieces are known in all grades, and three of those are in the Smithsonian's National Numismatic Collections.

Lot: 6697: 1927-D Double Eagle, MS67 PCGS
Ex: Stack's (3/91), lot 1217, where it was bought by Jay Parrino for $522,500; The Phillip H. Morse Collection.

The Morse Collection contains several other seven-figure rarities, but as impressive as the values are, so too is the condition of so many of his wonderful coins. Quality, rarity, eye-appeal, and pedigree are the hallmarks of this collection. His 1907 $20 with Small Edge Lettering, certified as PR68 by PCGS, is technically a pattern, but unrecognized as such. The Small and Large Edge Arabic Numerals twenties are experimental coins that were struck in very limited numbers (only three Small Letters are known). This is the only Small Edge Letters coin that has been certified in any grade by either PCGS or NGC.

Lot 6535: 1907 Arabic Numerals Double Eagle, Small Edge Lettering, PR68 PCGS
Ex: Ed Trompeter Collection; Heritage private sale, 1999; The Phillip H. Morse Collection.

Mr. Morse's 1921 Double Eagles are simply astonishing. The 1921 issue is unequalled as a rarity because 99% of its mintage was melted in the 1930s. There are probably only 40-60 mint state examples extant today, and Heritage is offering three of those in our Palm Beach Platinum Night auction. In addition to his finest known MS66, he also owns MS65 and MS64 examples.

Lot 6644: 1921 Double Eagle, MS66 PCGS
Ex: Probable Thomas Comparette to George Godard to Senator Hall; Stack's (3/82), lot 1471, where it brought $41,000; Crawford Collection; Phillip H. Morse Collection.

One of the most interesting lots in the Morse Collection is not one of his amazing coins, but an important letter from President Theodore Roosevelt to the Rev. Roland C. Dryer of Nunda, New York, defending Roosevelt's omission of the motto IN GOD WE TRUST from the newly minted $10 and $20 gold coins designed by Augustus Saint-Gaudens. This three-page typed letter, on White House letterhead, was signed by Theodore Roosevelt as President, on November 11, 1907. Of course, Congress forced the issue on March 8, 1908 by passing An Act Providing for the restoration of the motto, 'In God We Trust' on certain denominations of the gold and silver coins of the United States. This is a document of history from the heart of numismatics.

Lot 6501: Theodore Roosevelt Signed Letter Regarding IN GOD WE TRUST
Published in Elting E. Morison ed., The Letters of Theodore Roosevelt, Harvard University Press, Cambridge, Mass., 1952; Hermann Hagedorn, ed., Memorial Edition, Works of Theodore Roosevelt, 24 vols., Charles Scribner's Sons, New York, 1923-1926 Ex: Sotheby's, June 1, 1995, lot 327, where it brought $21,000; The Phillip H. Morse Collection.

Additional Highlights from The Phillip H. Morse Collection:

Lot 6520: 1933 $10 MS65 PCGS
One Of The Finest Known 1933 Eagles; none certified finer
Ex: Superior 1996 Keston Sale; The Phillip H. Morse Collection.

Lot 6523: 1907 High Relief Double Eagle, Wire Rim MS69 PCGS
The Finest Known 1907 High Relief Wire Rim $20
Ex: Trompeter Collection; Heritage private sale, 1999; The Phillip H. Morse Collection.

Lot 6529: 1907 High Relief Double Eagle, Flat Rim PR69 NGC
Possibly the Finest Known 1907 Specimen Striking High Relief Double Eagle.

Lot 6536: 1907 Large Letters Double Eagle, PR64 NGC
Like the Small Letters, the unique lowered-relief Large Letters Arabic twenty (struck from collar I) is technically a pattern.
Ex: Captain North cased set; New England Rare Coin Galleries; Ken Goldman; Hatie Collection (Bowers), lot 2855; Trompeter Collection; Heritage private sale, 1999; The Phillip H. Morse Collection.

Lot 6641: 1920-S Double Eagle, MS66 PCGS
The finest known example of the extremely rare 1920-S Double Eagle.
Ex: Eliasberg (Bowers and Ruddy, 10/82), lot 1051, where it brought $30,800; purchased by Dr. Stephen Duckor; sold by Dr. Duckor 3/00; The Phillip H. Morse Collection.

Lot 6645: 1921 Double Eagle, MS65 PCGS
The second finest known 1921 Double Eagle.
Ex: Dr. Thomas Louis Comparette; George Godard; Senator Hall; Louis Eliasberg; Eliasberg Collection (Bowers and Ruddy, 10/82), lot 1052; Dr. Stephen Duckor; Jay Parrino (1990); The Phillip H. Morse Collection.

Lot 6646: 1921 Double Eagle, MS64 PCGS
Tied for third finest known 1921 Double Eagle.

Lot 6678: 1925-D Double Eagle, MS66 PCGS
One of the three finest known 1925-D Double Eagles.

Lot 6698: 1927-S Double Eagle, MS67 PCGS
The finest known 1927-S Double Eagle.

This auction is open for bidding now at HeritageCoins.com!

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Seldom Seen Selections: 1896-S Morgan Dollar, MS69 (!), and a Beautiful Bride

Of the many remarkable Morgan Dollars in the current offering of coins from the Jack Lee Collection in our upcoming Palm Beach Signature Auction, this single coin is the most amazing example. It is essentially perfect. The only blemish we can find, and this requires extremely careful examination, is a tiny mark between star 11 and the border. Over the years, PCGS has certified 1.7 million Morgan Silver Dollars in all the different grades, yet only nine coins have been certified as MS69. These include six 1880-S Morgans, 2 dated 1881-S, and this 1896-S dollar. Jack Lee liked this coin so much, he has included it in all three of his outstanding collections.

Wayne Miller had the following comments about this issue: "Despite a mintage of five million pieces, the 1896-S is very scarce in uncirculated condition. Although original rolls of this date have appeared as recently as 1973, they appear to have been widely dispersed. Most BU specimens evidence average luster, very heavy surface abrasions (particularly about Liberty's face), and much weakness on the high points. The latter does not appear to be the result of worn dies, but is more probably due to inadequate striking pressure or improper basining of the dies." Miller continued, suggesting the Gem Morgan Dollars are among the most underrated of all dates in the series.

Like certain other issues in the Morgan Dollar series, the 1896-S Dollar is relatively common and easily obtainable in circulated, well-worn grade, but becomes elusive in Very Fine or higher grades. The mintage of this issue totaled 5 million coins, and apparently many of them quickly entered circulation. Bag quantities of Mint State coins were available and paid out at the mint as recently as the early 1950s, but no bag quantities were available later than that time. Apparently very few, if any, were included in the early 1960s Treasury release. Today, most want lists of Morgan dollars from all except the most advanced collectors include this date. It has been called one of the "Most Wanted" of all Morgan dollar issues.

Miss Anna Willess Williams, whose profile was used for these coins, has never looked so good. She was certainly a lovely bride, for 1896 was the year that she was married. An extensive notice was published in the May 1896 issue of The Numismatist: "The announcement that the Goddess of Liberty is about to be married has aroused new interest in the woman whose face is known to more people than that of any other women of the American continent. Every man, woman or child who has a silver dollar carries the handsome profile of the Philadelphia school-teacher, Miss Anna W. Williams. Her classic features have been stamped upon millions of silver disks.

"It is twenty years since the pretty blonde girl became world-famous. It was then stated that Miss Williams' profile was the original of the Goddess of Liberty on that much abused, much admired and equally much disliked Bland silver dollar. The friends of the young woman placed every obstacle in the way of possible identification, but failed in their object. The story of how Miss Williams came to be the Goddess of Liberty may be retold, now that it is said she is soon to become a bride.

"In the early part of 1876 the Treasury Department secured through communication with the Royal Mint of England. The services of a clever young designer and engraver named George Morgan. Upon his arrival in this country Mr. Morgan was installed at the Philadelphia Mint and was assigned the task of making a design for the new silver dollar. After many months of labor the young engraver completed the design for the reverse side of the coin upon which he represented the American eagle. His attention was then turned to the other side, and his original inclination was to place on it a fanciful head representing the Goddess of Liberty. But the ambitious designer was too much of a realist to be satisfied with a mere product of fancy. Finally he determined the head should be the representation of some American girl and forthwith searched for his beauteous maid.

"It was a long search, although pleasant. He told his friends of his desires, and one of them spoke of the really classic beauty of Miss Anna Williams. The English designer was introduced to the girl. Mr. Morgan was at once impressed with her beautiful face and studied it carefully. Then he told her what he desired, and she promptly refused to permit herself to be the subject of the design. Her friends, however, induced her to pose before an artist. After five sittings the design was completed.

"Mr. Morgan was so enthusiastic that he declared Miss Williams' profile was the most nearly perfect he had seen in England or America. His design for the Bland silver dollar was accepted by Congress, and so the silver coins have been pouring from the mints all these years adorned with the stately face of a Quaker City maiden.

"Miss Williams is a decidedly modest young woman. She resides on Spring Garden Street, not far from the school in which for years she has been employed as an instructor in philosophy and methods in the kindergarten department. She is slightly below the average height, is rather plump, and is fair. She carries her figure with a stateliness rarely seen and the pose of the head is exactly as seen on the silver dollar. The features of Miss Williams are reproduced as faithfully as in a good photograph."

This coin will be offered as part of our Platinum Night session on November 3. Bidding is open now at www.HeritageCoins.com!

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Website Tips: Selective MyBids





If you have visited MyBids recently, you may have noticed that we have added a small but potent new feature. You can now filter the lots in either current or closed auctions by whether you are winning/won or losing/lost. This allows you to have more control during the bidding process to view and bid on just the lots you are interested in.

Because items other than US coins currently do not fit especially well into MyCollection, another benefit is that this feature allows you to view just the lots you have won in closed auctions, effectively presenting you with a simplified version of MyCollection, as well as a permanent record of the lots you've won, complete with images and description.

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Numismatic Glossary:

Luster: The brightness of a coin that results from the way in which it reflects light. Many different types of luster exist, and one of the trickiest and most important parts of the grading process is determining whether the luster of a coin is artificial (possibly resulting from the coin being whizzed), natural as made, or diminished through wear, friction, cleaning, or other factors. Also spelled lustre.

Uniface: Struck on one side only. Medals are often produced in this manner, with one side left blank for possible engraving. Bracteate coinage was also struck uniface, as the flans were too thin to handle designs imparted by two dies

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Announcements

Help Wanted: Numismatist

Heritage Rare Coin Galleries, Dallas, Texas is seeking a talented numismatist for our sales department. Duties include assisting dealers and collectors and auction consignors in person and by telephone, evaluating prospective purchases, in Dallas and shows and conventions. Salary commensurate with numismatic skills and sales experience.

Please contact Paul Minshull at Paul@HeritageCoins.com with your background and experience.

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Around Heritage Galleries

Heritage Galleries & Auctioneers (HG&A) held its most recent Comic and Original Comic Art Signature Auction October 14 & 15, in Dallas, Texas. 2,225 total bidders competed for 1,974 lots, 409 of them successfully, for an overall total of $2,447,627, although after-auction sales are still ongoing and could push the total even higher.

"This is a wonderful wrap-up to a wonderful year," said Ed Jaster, Vice-President, HG&A. "Without a doubt, Golden Age key comics were the focal point of this auction, although we're still seeing increased interest in Silver Age DCs. Original art, as always, brought impressive results, with the Byrne/Austin X-Men #138 cover realizing $37,375, well over its pre-auction estimate of $25,000. Wally Wood's stunning Weird Science #14 cover was another standout, fetching $56,350."

"We're already looking forward to 2006," said Jaster, "and we're hard at work on our next auction, scheduled for January 20 & 21 in Dallas. If 2006 is even half as exciting as 2005 has been, it's going to be a great year!"

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Coin Club Outreach Program

In a move to help strengthen the coin hobby and increase membership in America's coin clubs, Heritage has created the Coin Club Outreach program.

The Coin Club Outreach program features a speaker's bureau to deliver presentations at coin club meetings, promotional items to be offered to clubs to help generate revenue and enlist new members, and access to the Heritage website and mailing list of over 150,000 active coin and currency enthusiasts. Anyone interested in scheduling a speaker for a coin club or other collector group is invited to contact:

David Lisot, Director
Heritage Coin Club Outreach
DavidL@heritagecoins.com
1-800-872-6467 ext. 303

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Heritage Interactive
Instant Quiz

NEW: Instant quizzes and polls twice a week at www.heritagecoins.com!

Answer these quick questions and see how you stack up against your peers.

1. Which of the following is another name for the Roman Antoninianus?
       As
       Denarius
       Double Denarius
       Drachm
       Shekel


2. What is the coin pictured in the Pan and Zoom closeup below?

       Fugio Cent
       1792 Half Disme
       Kentucky Token
       Lafayette Dollar
       Talbot, Allum & Lee Cent



Last week's questions:

1. Which of the following is not a known variety of 1846 Half Dollar?
Correct Answer: 1846/5 (32%). Three of the varieties are mentioned in the Red Book. The fourth, the Spiked 4, is mentioned in Breen, who somewhat enthusiastically called it "Rare". One of these coins is being offered in the current Palm Beach Signature Auction.

2. What is the date of the coin pictured in the Pan and Zoom closeup below?

Correct Answer: 1908 (34%). This is the reverse of the Indian Head Eagle, without the motto "IN GOD WE TRUST", but with the D mintmark visible in the lower left hand corner.

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Is It Time To Sell?

A FUN Week in January

In 2005, Heritage made numismatic history with our FUN Signature Auctions, selling over $60 million worth of coins in one week? and over $30 million in one night.

In 2006, we're out to do even better.

As the traditional opening of the numismatic year, the Florida United Numismatists annual convention attracts dealers and collectors from all over the country. Auctions abound. But while most auctions are held before the convention, only one auction house holds the official auction of the FUN show: Heritage.

As official auctioneers, Heritage brings your coins to the biggest variety of dealers and collectors in Orlando for the show. Not to mention the over 155,000 registered Internet bidders just waiting for the chance to bid on the right material. Yours.

Take advantage of this unparalleled venue by consigning your coins and currency today! Get the widest possible exposure, the biggest selection of bidders, and the best results! Call our consignment hotline at 1-800-US-COINS, x222, and reserve your spot in an event that will undoubtedly make numismatic history once again!

2006 January Orlando, FL (FUN) Signature Auction
Sale on January 3 to January 7, 2006
Consignment Deadline: November 24, 2005

2006 January (CAA) Orlando, FL Signature Auction
Sale on January 6 to January 7, 2006
Consignment Deadline: November 19, 2005

2006 January (HWCA) New York Signature Auction
Sale on January 8 to January 9, 2006
Consignment Deadline: November 18, 2005

Leo Frese
Director of Consignments
Leo@HeritageCoins.com
1-800-US-COINS ext. 222 (24 hour voice mail)

Interested in Selling?
What's My Coin Worth?
Get the Most Money for Your Collection
Consign to a Heritage Auction

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Current Auctions

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Rare Coins
Closes Tue. Oct. 25
at 10:00 PM
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Rare Coins
Closes Sun. Oct. 23
from noon to 10:00 PM
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Rare Currency
Closes Sun. Oct. 30
at 10:00 PM
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Rare Coins
Location: Palm Beach , FL
Auction: 2005 November Palm Beach, FL The Phillip Morse Collection #392
Auction Dates: Thursday, November 3, 2005
Note: Internet Absentee Bidding Ends at 10 PM CT the night before the floor session of any particular lot.
Browse Lots by Category

Rare Coins
Location: Palm Beach , FL
Auction: 2005 November Palm Beach, Florida Signature Auction #388
Auction Dates: November 2-5, 2005
Note: Internet Absentee Bidding Ends at 10 PM CT the night before the floor session of any particular lot.
Browse Lots by Category

Rare Coins
Location: Palm Beach, FL
Auction: 2005 November Palm Beach, FLorida Online Session #389
Auction Dates: November 7, 2005

HeritageGalleries.com
Paintings, Silver, Art Glass and Antiques and more...
Closes Sunday, October 30, 2005 at 10:00 PM
View current auctions.

HeritageSportsCollectibles.com
Sports cards, autographs, collectibles, and more...
Closes Sunday, October 30, 2005 at 10:00 PM
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HeritageMoviePosters.com
Movie posters, lobby cards and more...
Closes Sunday, October 23, 2005 at 10:00 PM
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HeritageComics.com
Comics, comic art and more...
Closes Sunday, October 23, 2005 at 10:00 PM
View current auctions.


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