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March 24, 2006
This Week In Coin & Currency News
The Robert Moreno Registry Collections Of Peace Dollars
Found Treasures: 1836 Original Gobrecht Dollar
Website tips: Wider Website Columns
Numismatic Glossary
Stolen Coin Alert, Seattle WA
Help Wanted: Numismatist
Help Wanted: Information Technology
Around Heritage Auctions
Coin Club Outreach Program
Instant Quiz: Test your numismatic knowledge
Is It Time To Sell? 2006 June Long Beach Signature Auction
Current Auctions: 2006 April Atlanta, GA (ANA) Signature Auction, 2006 April Atlanta, GA 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
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Collector News
The Robert Moreno Registry Collections Of Peace Dollars

Heritage Auction Galleries is pleased to bring you the Robert Moreno #1 Registry Collections of Peace Dollars as featured collections in our upcoming Atlanta ANA Signature Auction, taking place on April 6-7 in Atlanta. These collections - one covering circulation strike Peace Dollars, and another covering proofs, both rank as the finest collections known to NGC.

To be sure, there is not a great deal of competition for the Finest Known collection of Proof Peace Dollars, but in large part this is because Proof Peace Dollars are quite rare. Mr. Moreno's collection, covering all five recognized varieties of proof Peace Dollars, is a formidable numismatic achievement by any standards. Each of these coins grades as a full Gem or finer, and Matte, Satin, and High Relief varieties are available for both 1921 and 1922.

Many numismatists collect circulation strike Peace Dollars, but it would be difficult to imagine a finer set than Mr. Moreno has assembled. To mention that each of the coins in the collection is a Gem or finer doesn't begin to do this collection justice. Perhaps the most prominent coin in this set is the 1921, a coin that draws attention to itself because of its unusual high relief strike. This collection contains one of only eleven such pieces known in MS67 according to both major grading services, with none finer. "None Finer" is in fact a description that applies to the majority of the coins Mr. Moreno has collected, but some have quality that makes them stand out even among this strong a selection. Mr. Moreno's 1925 Dollar bears the incredible grade of MS68, one of only two of the date and three in the entire series known so nice, and his 1926 is the sole coin of the date to have been given an MS67 grade by either major service.

The Robert Moreno #1 Registry Collections include:

This collection and the rest of the Atlanta ANA Signature Auction is now available for viewing and bidding at HeritageAuctions.com/Coins.

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Found Treasures: 1836 Original Gobrecht Dollar
By Stewart Huckaby

Readers of this occasional column may be aware that my current collecting love is Seated coinage, and in particular half dimes and dimes. I have appreciated the Seated Liberty design ever since I first saw pictures in Red Books while I was in grade school, and as an adult with an actual income I've been able to put together a decent collection of these two series. I wouldn't say that there is anything necessarily special about any of my coins, but there are a lot of them, and in most cases I'm down to filling key dates and finding out firsthand why better date circulated Seated coins in Heritage auctions always do very well.

The thing that first drew my interest to these coins was the pictures of the 1837 half dime and dime. While I enjoy the series and the design as a whole, these coins are refreshingly uncluttered, without the stars or legend on the obverse to intrude on Liberty's profile. My specimens of these pieces grade no higher than maybe Good-6, but they are attractive coins, far more so than a similarly graded later date.

While these were the first minor coins to bear the seated Liberty design, they were not the first overall. The design originated with Christian Gobrecht, an artist who had long wanted to work for the mint, and who had finally joined after William Kneass' stroke in 1835. Gobrecht was commissioned to come up with a new design for our country's flagship coin, the silver dollar, a piece that hadn't been minted since 1803 except as an 1804-dated presentation piece in 1834. The design that appeared on the obverse of finished product looks very similar to what was released in other denominations in 1837, but the size of the piece grants the coin a majesty that really can't be duplicated in a smaller coin.

However, although the obverse would be duplicated in many other denominations in the next few years, the reverse of the Gobrecht dollar was something new: an eagle, in flight, and (sometimes) climbing amidst a field of 26 stars, one for each state in the union at the time. One of the odd things about Gobrecht dollars in general is that they are collected by die alignment more than any other US coin; this has to do with whether the coin was manufactured in coin or medal alignment, and further whether the eagle is climbing or level when the coin is turned.

1836 Gobrecht Dollars, although minted as proofs, were in fact released for circulation, and the vast majority are found circulated and/or with problems that they have accumulated over the years. Only 1600 original pieces were minted for circulation bearing the 1836 date, although mint employees in future years restruck these pieces and indeed other Gobrecht Dollars bearing 1838 and 1839 dates. Whether a piece is an original or a restrike can be determined in large part by the die alignment; if the eagle is flying level when the coin is turned, the coin is a restrike.

Because Gobrecht Dollars are included in US Type Sets as well as being both rare and beautiful, they are understandably very popular. Heritage is fortunate enough to be able to feature them in most of our Signature Auctions, although at times the coins may be quite well worn. 1836 Originals, despite the paltry mintage, are relatively common in comparison to other dates, and a worn or problem piece is likely to sell at auction for an almost affordable $3,000-$10,000. One piece is known to grade PR66, by NGC, but pieces in the PR63-64 range will appear at auction on occasion. The last such piece Heritage offered, the Proof-63 piece pictured above that we offered in our San Francisco ANA auction last year, realized $43,125.

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Website Tips: Wider Website Columns

You asked, we delivered! Our redesigned website now features wider columns, with plenty of room in the center of the page for you to search or browse for the information you want. What was previously the far right column has been moved out of the main web page and placed apart from the page to the right. This allows for extra room for the main home page content, and dramatically decreases the amount of blank space on the page.

Because of feedback from our customers, we have also redesigned and simplified much of the right side content and added this content to a number of new pages. You should have an easier time finding features such as surveys, quizzes, and news from many more pages on the site!

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Numismatic Glossary:

Gresham's Law: According to Walter Breen, "When two kinds of money are simultaneously in circulation, the overvalued will drive the undervalued out of circulation." It is more commonly expressed as "Bad money drives good money out of circulation," and more accurately done so with the proviso, "If the face value is the same." This principle has repeated applications in numismatics, ranging from the fact that we no longer see silver coins in circulation to the various times when US coinage would be sent overseas for melting if its bullion value exceeded its face value. Named after Sir Thomas Gresham, a 16th century British financier, who compared the fine coinage of Queen Elizabeth I to the earlier debased coinage of Henry VIII.

Sea Salvage: Coins that have been recovered from shipwrecks. The S.S. Brother Jonathan, S.S. Central America, and S.S. Republic are only recent examples of shipwrecks that have been salvaged, but money has been known to go down with the ship ever since it was first brought on board. Saltwater does not tend to treat silver and copper coinage well; however, the gold coins and bars from some of these recently discovered shipwrecks can be professionally conserved and brought up to very high standards. Most known 1857-S Double Eagles, for example, are from the S.S. Central America, and this date is common in MS63 to MS65 grades.

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Announcements

Stolen Coin Alert, Seattle WA

The following coins were stolen from Federal Express packages in Seattle, Washington in the last three weeks. They were all purchases in our February Long Beach Coin Auction or our January Dallas Jules Reiver Collection Auction. Any information would be appreciated. We will make sure anyone turning in coins is made whole. Please contact Paul Minshull or Doug Baliko with any information.

Dallas:

Long Beach:

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Help Wanted: Numismatist

Heritage Auction 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@HeritageAuctions.com with your background and experience.

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Help Wanted: Information Technology

Heritage Auction Galleries is looking to fill two key positions in our Information Technology Department:

Database Administrator (DBA)

The Database Administrator will be responsible for all aspects of our databases. He/she will develop database standards and strategies to meet all business requirements in a very fluid and dynamic real-time environment.

Some of the key initiatives include architecting and developing large scale, high transaction, high volume databases, performance tuning, writing and tuning store procedures, and performing backup and recovery activities.

Applications Developer - Accounting

The developer will work closely with users in the development and enhancement of internal and web-based applications focused primarily on accounting programs and reporting. This position will be responsible for supporting requests, releases, enhancements, and new development for applications and reports surrounding our accounting applications. Provide routine application and data maintenance support. Respond to requests and enhancement requests which include modeling, analyzing, designing, prototyping, constructing, testing, implementing, and maintaining applications.

Please e-mail cover letter and resume to itjobs@heritagegalleries.com.

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Around Heritage Auctions

Heritage Auction Galleries held our latest Vintage Movie Poster Signature Auction on Friday and Saturday, March 18 & 19, 2006, in Dallas, Texas. 1,003 lots were offered, with total prices realized exceeding $1.4 million, although after-auction sales are still ongoing and could push the final results even higher.

This was another very strong auction with strong participation and impressive results. Prices realized were strong across all categories, with animation the biggest favorite this time around. We had a number of very aggressive bidders for all of the animation material, and the prices realized for this fine paper reflect that.

Of course, the star of the show was the ultra-rare one sheet for the Mickey Mouse short, The Mad Doctor, which realized a staggering $138,000, against our pre-auction estimate of $60,000 - $80,000. One of the last posters that Universal produced for an individual cartoon, this is one of only two copies known to exist of this fabulous sheet, with the second copy in far lesser condition. We were confident that this piece would realize a strong price, but even we were pleasantly surprised by the final result. To the best of my knowledge, this price sets a new World Record for a Disney one sheet offered at public auction.

Mickey also claimed the Number Two spot in this auction, with the one sheet for Mickey's Nightmare bringing $54,625. Not only the first of the Universal Mickey one sheets, but also one of the best, as Mickey is shown not once, but nine times in all. This poster is highly sought after by collectors, which is reflected in its strong price realized. Other outstanding Disney results included the Hawaiian Holiday poster showing Donald and Mickey 'hanging ten', which brought $21,850, and a Mickey Mouse stock poster from 1935 which realized $10,925. Certainly, this auction was Mickey's time to shine!

Once again, Bogart paper was heavily contested in this auction. Particularly strong was material from the legendary film, Casablanca, including a beautiful Style A half sheet, which brought $23,000, an Australian one sheet, which fetched $10,925, and an Italian 4 Folio, which realized $10,350. Additionally, both an insert and an Australian daybill from The Maltese Falcon brought $8,625 a piece.

Another category that showed exceptional strength was Silent paper. We've seen growth in this area over the last several auctions, with no signs of slowing down this time around. To illustrate, just look at The Black Pirate one sheet, featuring Douglas Fairbanks that brought $27,600, or the Buster Keaton poster, The Cameraman, which realized $18,400. Bidders certainly didn't stay silent on these lots!

All in all, this was a very exciting, and very successful, event, and we're eagerly looking forward to our next auction of vintage movie posters in Dallas, Texas on July 14, 2006.

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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@HeritageAuctions.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.HeritageAuctions.com/Coins!

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

1. Which of the following key dates has the highest mintage?
       1893-S Dollar
       1901-S Quarter
       1909-S VDB Cent
       1916 Standing Liberty Quarter
       1916-D Mercury Dime


2. Where was the coin pictured in this Pan and Zoom closeup minted?

       Bolivia
       Lima
       Madrid
       Mexico City
       Philadelphia



Last week's questions:

1. According to PCGS and NGC population and census figures combined, roughly how many 1881-S Morgan Dollars are known in MS65, including prooflikes and DMPLs?
Correct Answer: 75000 (46%).

2. What was the date of the last US proof coin to bear the D mintmark?
Correct Answer: 1984 (48%).

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Is It Time To Sell?

Hit the Beach With Heritage Signature Auctions

When the time comes to sell your valued collection, you want to select a venue that promises to maximize viewing and participation. Consigning to Heritage's Long Beach Signature Auctions brings you these advantages and more, bringing the strong collector base of Southern California, Internet participation from around the world, and a smoking hot coin market to your coins.

The eyes of the numismatic world will be on Long Beach, and you can take full advantage! You couldn't ask for a better market, nor a finer opportunity. Call our consignor hotline at 1-800-872-6467, x222, and consign to one of Heritage's Long Beach Signature Auctions today!

2006 June Long Beach Signature Auction
Sale on May 31 to June 3, 2006
Consignment Deadline: April 20, 2006

2006 (HWCA) June Long Beach Signature Auction
Sale on June 1 to June 2, 2006
Consignment Deadline: April 12, 2006

Leo Frese
Director of Consignments
Leo@HeritageAuctions.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

Internet
Only
Auctions


Rare Coins
Closes Tue. Mar. 28
at 10:00 PM
View Lots
Rare Coins
Closes Sun. Mar. 26
from noon to 10:00 PM
View Lots
Rare Currency
Closes Tues. Mar. 28
at 10:00 PM
View Lots

Rare Coins
Location: Atlanta, GA
Auction: 2006 April Atlanta, GA (ANA) Signature Auction #402
Auction Dates: April 6-7, 2006
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: Atlanta, GA
Auction: 2006 April Atlanta, GA Online Session #403
Auction Dates: April 10, 2006
Note: Internet Absentee Bidding Ends between 6 PM and 10 PM CT.
Browse Lots by Category

HeritageAuctions.com/FineArt
Paintings, Silver, Art Glass and Antiques and more...
Closes Monday, March 27, 2006 at 5:00 PM
View current auctions.

HeritageAuctions.com/Sports
Sports cards, autographs, collectibles, and more...
Closes Sunday, March 26, 2006 at 10:00 PM
View current auctions.

HeritageAuctions.com/MoviePosters
Movie posters, lobby cards and more...
Closes Sunday, March 26, 2006 at 10:00 PM
View current auctions.

HeritageAuctions.com/Comics
Comics, comic art and more...
Closes Sunday, March 26, 2006 at 10:00 PM
View current auctions.


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