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Coins
  This Week In Coin News
 
February 5, 2011

Introducing Heritage Wine Auctions
A Vote Of Confidence In Heritage
Found Treasures: Type Sets
Website Tips: The Way to the Auction Archives
This Week's Top Ten
Heritage Auctions' 16th Annual Auction Survey!
Reduced Auction Commissions When You Resell Your Winnings!
Employment Opportunities: Currency Expert, Wholesale Sales, Numismatist
Around Heritage Auctions
Instant Quiz: Test your numismatic knowledge
Is It Time To Sell? 2011 March Sacramento Signature ANA US Coin Auction
Current Auctions: February Long Beach US Coin Auction, Internet Coin Auctions, Other Signature Auctions, Other Internet Auctions


  Introducing Heritage Wine Auctions

It is with great pleasure that we announce the launch of our Fine & Rare Wine department, headquartered at our Beverly Hills office! Our wine department will offer both online-only and traditional live-auctions and will of course feature live online-bidding using Heritage Live!

Our first online-only auction is open for bidding now with an assortment of wines in sample and drink-me sizes to whet the palate, so to speak. This auction will close on Thursday, February 10th at 10:00 PM CT. We will feature a new internet-only auction the first Thursday of every month thereafter and plan on launching our first Signature auction on April 2nd.

If you would like to be notified of specific wines, please visit MyWantlist, where you can save searches for wine by keyword (Dom Perignon), or by type (Red Bordeaux). We will notify you when anything that matches your searches becomes available at auction!

For more information, please contact Frank Martell FrankM@HA.com or 800-872-6467 extension 1753. General inquiries can be directed to wine@HA.com.


Please click here to signify your interest in wine so we can notify you about future auctions.

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  Collector News
A Vote Of Confidence In Heritage

Heritage Auction recently secured a new $45 million line of credit from Wells Fargo Business Credit, a division of Wells Fargo Bank, N.A., and First United Bank & Trust, raising the company's previous loan facility by $10 million.

"This increase is a vote of confidence in the continuing strength of our business," said Steve Ivy, Co-Chairman of Heritage. "Even during the recession in 2008 and 2009, the worst since the 1930s, our business has remained strong. The stability of our business operations is unquestionable and we believe the expansion of our already broad credit line from Wells Fargo and First United speaks to that strength."

The extended loan facility is added to Heritage's more than $100 million in assets and more than $50 million in owner's capital, along with several other healthy sources of capital and a record of clean certified opinions from auditors at KPMG that extends back 20 years.

"We've weathered the last few years as well as we have by keeping a balanced portfolio and a balanced approach," said Ivy. "We've seen several auction categories set new records for category totals, and our business has had successful expansions into Beverly Hills and New York. There are very few, if any, other auction houses that can point to that kind of growth and consistent profitability since 2008. Add to this the fact that every single one of our consignors has been paid in full and on time and you can see why our banks have such confidence in us."

Heritage's fully engaged ownership, in the form of its five managing partners — Ivy, Jim Halperin, Greg Rohan, Marc Emory and Paul Minshull — have all worked at the company for at least 20 years apiece, and have focused on smart, stable expansion of the Heritage brand and reach into all corners of the globe. This has resulted in an ever-growing bidder-member base of more than 500,000 members in 161 countries.

"Our Website and real-time online bidding have been significant in the success of our global outreach," said Ivy. "By providing bidders access to auctions and the ability to bid on lots in real time, no matter where they are in the world — as long as the right equipment is available — has led them to respond with considerable enthusiasm, which has translated into a strong bottom line. We see no reason why this shouldn't continue to be the case going forward."

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Found Treasures: Type Sets
By Stewart Huckaby

1796 50C 15 Stars
1796 50C 15 Stars
Early on as numismatists, many of us decided to collect coins by date, likely aided in no small way in that decision by one or more of the following — coin boards, Whitman folders, Whitman, Dansco, or Library of Coins albums, or any of the numerous Statehood quarter accessories. Filling in the holes was a measurable way of keeping track of the progress of our collections, and if we actually managed to complete the albums, we had a real accomplishment!

Of course, there are as many different ways to collect as there are collectors. You can collect by date, by variety, by country, by topic (I know more than one person who specializes in coins with ships on them), or in any other way that floats your... um, boat. A particularly common way to collect coins is by type. Type collectors are not looking for examples of all dates of Morgan Dollars, let alone the top 100 VAM varieties; they simply want an example of a Morgan dollar, along with examples of other coin types. Advanced collectors putting together type sets will generally go for the finest available exemplar of the type, and Heritage has sold some exquisite type sets in our Signature auctions.

One of the challenges of collecting a type set is how to define it. You can stick with major types (Liberty Seated dimes), types and obvious subtypes (Liberty Seated dimes with stars on the obverse and with Legend on the obverse), types and perhaps not-so obvious subtypes (Liberty Seated Dimes with (1) No drapery and no stars; (2) No drapery and stars; (3) Drapery and stars; (4) Drapery, stars, and arrows; (5) Legend on obverse; (6) Legend on obverse, arrows at date; and maybe even (7) the transitional pieces with stars on the obverse and no mention of the USA on the reverse). You will also need to determine whether you want to include copper coins, silver coins, gold coins, and/or coins from only a specific timeframe.

Putting together a 20th century type set of coins with face values up to a dollar is a relatively easy task, even for a beginning collector. Most of the coins included can be bought for the value of their silver, or only a dollar or two in the case of early non-silver coins like Indian cents and Liberty Nickels. Several types can readily be retrieved from pocket change. If you choose to add the 21st century to the set, it seems that you may be adding new types almost every year, but it's still an easily completable task. If you choose to add gold coins to a 20th century type set, the set becomes considerably more expensive, especially if you choose to include the high relief double eagle — a coin that is generally available, but carries a high price tag. As with all things numismatic, it is up to you to determine the quality you want; circulated Mercury dimes are readily available for silver content, but a Mercury Dime grading MS68 or MS69 will cost some money.

While type sets are generally filled with the most common or most high quality example of a type, there are US coin types that are just not common at all in any date, some of which were minted for only a single year. A well-known key to a US silver type set is the half dollar minted 1796-97, the only two dates with the Draped Bust obverse and small eagle reverse. Only 3,918 of these coins were made in total, and maybe 200 or so still exist, leaving collectors with extremely limited opportunities to acquire one even if they can afford the mid-five figure price tag. As you might expect, Heritage offers these coins in our Signature auctions with some regularity, with two 1796 examples appearing in our upcoming 2011 March Sacramento Signature ANA US Coin Auction. These coins are almost always among the highlights of any auction in which they appear.

Other key types for the advanced collector include the 1793 chain cent, the 1793 half cent, the 1796 quarter, the Gobrecht dollar, the high relief double eagle, and any gold type minted before 1834. Possibly the toughest of all coin types is the Capped Bust to Left quarter eagle, which was minted in 1808 only to the tune of 2,710 pieces. It is thought that only 150 or so of these exist in all grades, and our auction records, which show five to six figure price tags for the roughly two offerings we have per year, back up this coin's rarity. However, if you choose to include the 1795 quarter eagle without stars as a separate type — and many collectors do consider it a separate type — you are dealing with a type with an estimated mintage of under a thousand pieces in total, with perhaps 100-120 or so known and prices that rarely drop below six figures.

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Website Tips: The Way to the Auction Archives

  1. Click on Auction Results Archives from the Heritage Coins home page, upper left side.


  2. Click on the "Auction Archives" box in the "Appraise Collectibles and Art at Heritage Auctions" section on the home page.



  3. Click on the "Auctions" tab from any page on the Heritage Coins website, then click on the link to the Permanent Auction Archives, right in the middle of the popup.


  4. On the home page, in the center, there are tabs saying "Bid/Buy" and "Auction Archives". Click on the "Auction Archives" tab to take you to a page where you can browse the archives by category. From this page, you can enter your archive search by keyword and category without leaving this page.

  5. If you're looking through items we're currently offering, just perform your search normally, adding criteria as you see fit. At the top, you will see two tabs — one for items currently up for auction, and the other for the archives. At any time, you can switch between one and the other, simply by clicking on the appropriate tab — and every one of your search criteria will be preserved!

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This Week's Top Ten

The ten highest valued coins dated 1907 that have sold in Heritage auctions:

1907 Ultra High Relief, $20 Lettered Edge PR69 PCGS
1907 Ultra High Relief, $20 Lettered Edge PR69 PCGS
  1. 1907 Ultra High Relief, $20 Lettered Edge PR69 PCGS. Sold for $2,990,000
  2. 1907 $10 Satin PR67 NGC. Sold for $2,185,000
  3. 1907 Ultra High Relief $20 Lettered Edge PR68 PCGS. Sold for $1,840,000
  4. 1907 $20 Small Edge Lettering PR68 PCGS. Sold for $920,000
  5. 1907 $20 High Relief, Wire Rim MS69 PCGS. Sold for $575,000
  6. 1907 $20 High Relief, Wire Rim MS69 PCGS. Sold for $546,250
  7. 1907 $20 High Relief, Flat Rim PR69 NGC. Sold for $534,750
  8. 1907 $20 High Relief, Wire Rim MS69 PCGS. CAC. Sold for $517,500
  9. 1907 $10 Rolled Edge MS67 PCGS. Sold for $460,000
  10. 1907 $10 Rolled Rim MS67 PCGS. Sold for $402,500

Do you have a suggestion for a future top ten list? Send it to us!

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  Announcements

Heritage Auctions' 16th Annual Auction Survey!

By filling it out completely, you could win:

  • Grand Prize: a Certified Uncirculated 1907 High Relief $20!*
  • Second Prize: Five winners can auction up to $100,000 of their coins for free in any one of Heritage's 2011-2013 auctions (no seller's commission).
  • Third Prize: Ten winners can auction up to $50,000 of their coins for free in any one of Heritage's 2011-2013 auctions (no seller's commission).
  • Mint State Saints — There are three ways to win:
    1. Provide or update your e-mail address above for a special bonus drawing.
    2. Fill out your survey on our website.
    3. One Saint awarded for every 1,000 ANA members responding.
  • All respondents will receive a complimentary copy of the newly updated The Collector's Handbook.
  • For every collector consignment to the Sacramento ANA, Heritage will award one Junior ANA membership.

In 2011, Heritage is holding Official Auctions for F.U.N., the Sacramento ANA, CICF, NYINC, all three Long Beach Expos, Central States, Summer F.U.N and the Money Show of the Southwest in Houston! By answering all of these questions fully, you can help Heritage provide more record-breaking events in 2011 and beyond, and remember, one lucky respondent will win a certified brilliant uncirculated $20 High Relief! Your confidential, completed survey must be received at Heritage by February 11, 2011, to participate in the drawings. Only one entry per person is eligible to win. Thank you, and good luck!

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Reduced Auction Commissions When You Resell Your Winnings!

When you win any lot worth with a hammer price of $1,000 or more (or $2,500 for Art and Natural History lots), you will receive a coupon that entitles you (or your heirs) to re-consign that lot to Heritage at a reduced seller's commission. Selling through Heritage is a convenient and hassle free way to maximize your return (find out why). Maybe you'll need to make room in your collection for something better, perhaps your collecting tastes will change, or maybe it will be your heirs that benefit; but be sure to save the coupon, which could be worth hundreds or thousands of dollars.

  • Coins: 0% Seller's Commission for all items $1K or more.
  • Comics: 50% of the usual Seller's Commission for all items between $1K & $10K, and 0% for items $10K and over.
  • All Other Categories: 50% of the usual Seller's Commission for everything else over $1K ($2,500 for Art & Natural History).

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  Employment Opportunities

Help Wanted: World Coin Cataloger

Heritage Auctions is seeking a talented numismatist with broad expertise in World coins to join our award-winning headquarters staff in Dallas. If you love World Coins and have exceptional writing skills we have an opening as a full time cataloger. You can work with the most successful team of numismatists in the world. Duties will include cataloging, evaluating, grading and attribution of World Coins, assisting with catalog production, and contributing numismatic articles for newsletters and other publications. Additional knowledge of world paper money and/or ancient coins is a plus but not required.

Excellent benefits and work environment. Salary will be commensurate with numismatic skills and experience.

If you are interested in joining the Heritage family, please forward a brief description of your background, including salary requirements to Jobs@HA.com.

Help Wanted: Currency Expert

We are looking for a motivated leader with strong buying and writing skills and a good general knowledge of U.S. history and U.S. Currency for a key position with Heritage-CAA in Dallas, Texas. Job duties include: buying, cataloging for auctions, organizing and obtaining consignments along with catalog production. Great benefits, generous salary and bonus, commensurate with experience. Send resume and salary history to Jobs@HA.com.

Help Wanted: Wholesale Sales

Heritage has an immediate opening for an experienced numismatic wholesale salesperson. If you have intimate knowledge of the wholesale trade, experience traveling to major and intermediate-sized shows, and skill in office-based selling to fellow dealers and marketers, please e-mail resume and salary history along with details of your numismatic sales experience to Jobs@HA.com. This important position is based in Dallas, TX and provides benefits and salary commensurate with experience.

Help Wanted: Numismatist

Heritage Rare Coin Galleries, Dallas, Texas is seeking a talented general numismatist for our rare coin department in Dallas, TX. Duties include assisting dealers and collectors and auction consignors in person and by telephone, evaluating prospective purchases in the office and at shows and conventions. Salary commensurate with numismatic and sales skills. Previous coin shop experience a plus. E-mail resume and salary history to Jobs@HA.com.

View All Employment Opportunities

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  Around Heritage

First Batman Proof Pages — Saved From The Trash In Queens

Yesterday and Today
The original 1939 production proofs for pages 2-6 of Detective Comics #27, otherwise known as the first appearance of "The Batman," perhaps the closest the world will ever get to the original art for this monumental comic book — long lost, as far as anyone has ever known — will be part of Heritage Auctions' Signature Vintage Comics & Comic Art Auction, Feb. 24. The pages are estimated at $1,000+ each.
Yesterday and Today
The saying, "One man's trash is another man's treasure" comes to mind here, as these pop culture relics were literally heading for the dust bin of history: they were rescued in 1975 from an old steamer trunk sitting on a curb awaiting trash pick-up in Rego Park, Queens. Mario J. Sacripante spied the trunk outside of the building where he lived, and where — he soon learned — Bob Kane, Batman's creator, had also lived for many years.
Yesterday and Today
"I actually knew what it was that I had found, having been around antiques and collectibles all my life," said Sacripante. "There was enough comic history, material and original art work for me to figure out that Bob Kane had lived here long before I moved next door. I learned later that a friend's father actually knew Bob Kane when he had lived in the building."
Yesterday and Today
The rest of the trove, which includes original Bob Kane sketches, gag panels, art class notebooks and an incomplete copy of Detective #27, are all in the auction as well.
Yesterday and Today
"Holding some of these pages next to the printed comic I was struck by the details of the art that are better visible here," said Barry Sandoval, Director of Comics Auction Operations at Heritage. "Very little original comic book art from the 1930s has survived, so this is probably the closest a collector would ever get to owning original art from one of the most collectible comic book stories ever."

A proof page in comics is a test run of an uncolored page used for perusal by artists and writers to see how their work would look on the printed page.

More information about comic & comic art auctions.

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  Heritage Interactive
Instant Quiz

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

1. Which O-mint Morgan dollar had the lowest mintage?
       A) 1879-O
       B) 1893-O
       C) 1894-O
       D) 1895-O
       E) 1903-O


2. Which of the following denominations did not have arrows placed at the date in 1853 to indicate a drop in weight?
       A) Half dime
       B) Dime
       C) Quarter
       D) Half Dollar
       E) Dollar



Last week's questions:

1. How many of Monticello's steps must be complete in order for a Jefferson Nickel to earn a Full Steps designation from PCGS?
Correct Answer: C) 5 (51%).

2. During how many different years did the San Francisco Mint make three dollar gold pieces?
Correct Answer: E) 5 (18%).

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  Is It Time To Sell?

You can be an important part of Heritage's Official Auction of ANA's National Money Show in Sacramento, the latest event in the line of Heritage's historic and unrivalled record of 41 Official ANA auctions since 1980.

This Official ANA Auction will attract all of the regional strength of the important West Coast market, as well as the national attention of an ANA event. Of course, Heritage's global marketing outreach means bidder demand from around the world as well.

To consign your important coins to the Official Auction of the Sacramento ANA, we invite you to contact one of our Consignment Directors at 800-872-6467 ext. 1000 (Coins) for a free, no-obligation consultation.

Don't delay and miss this exciting opportunity. Call today.

2011 March Sacramento Signature ANA US Coin Auction
March 17 to March 20, 2011
Consignment Deadline: February 7, 2011

David Mayfield
Vice President, Numismatic Auctions
David@HA.com
1-800-US-COINS ext. 1000

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
Coin Auctions
2011 February Long Beach Signature US Coin Auction
Heritage Live Enabled
2011 February Long Beach Signature US Coin Auction #1152
February 3-6, 2011
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Sunday Internet Coin Auction Sunday Internet Coin Auction #211022
February 6, 2011
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Sunday Internet Coin Auction Tuesday Internet Coin Auction #211022
February 8, 2011
View Lots
Monthly World Coin Internet Auction Monthly World Coin Internet Auction #611021
February 8, 2011
View Lots
Tuesday Internet Wholesale Watch Auction Internet Wine Auction #221106
February 10, 2011
View Lots


Currency Auctions
Tuesday Internet Currency Auction Tuesday Internet Currency Auction #311022
February 8, 2011
View Lots
 

Other Signature Auctions
2011 February Long Beach Signature US Coin Auction Heritage Live Enabled
2011 Taste of NFL Charity Auction #563
February 5, 2011
View Lots
Add to Calendar
2011 February Beverly Hills Signature Illustration Art Auction Heritage Live Enabled
2011 February Beverly Hills Signature Illustration Art Auction #5052
February 11-12, 2011
View Lots
Add to Calendar
2011 February Beverly Hills Signature Music & Entertainment Auction Heritage Live Enabled
2011 February Beverly Hills Signature Music & Entertainment Auction #7031
February 18-19, 2011
View Lots
Add to Calendar
2011 February Dallas Signature Vintage Comics & Comic Art Auction Heritage Live Enabled
2011 February Dallas Signature Vintage Comics & Comic Art Auction #7030
February 24-25, 2011
View Lots
Add to Calendar
2011 June Dallas Signature Natural History Auction Heritage Live Enabled
2011 June Dallas Signature Natural History Auction #6061
June 12, 2011
View Lots
Add to Calendar
 

Other Internet Auctions
Sunday Internet Movie Poster Auction Sunday Internet Movie Poster Auction #511021
February 6, 2011
View Lots
Sunday Internet Comics Auction Sunday Internet Comics Auction #111021
February 6, 2011
View Lots
Sunday Internet Sports Auction Sunday Internet Sports Auction #411021
February 6, 2011
View Lots
Tuesday Internet Wholesale Watch Auction Tuesday Internet Wholesale Watch Auction #711022
February 8, 2011
View Lots
2011 February Silver Internet Auction Heritage Live Enabled
2011 February Silver Internet Auction #911021
February 9, 2011
View Lots
 

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