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Coins
  This Week In Coin News
 
September 15, 2012

Nearly $20 Million In Rare Coins And Currency Sold In Long Beach
Seldom Seen Selections: Specimen strike 1793 Wreath Cent
Website Tips: How to enter multiple coins into MyCollection simultaneously
This Week's Top Ten
Reduced Auction Commissions When You Resell Your Winnings!
Employment Opportunities
Around Heritage Auctions
Instant Quiz
Is It Time To Sell? November - December US Coin Signature Auction
Current Auctions: Internet Coin Auctions


  Collector News

Nearly $20 Million In Rare Coins And Currency Sold In Long Beach

Gem Cameo proof 1853 quarter with Arrows and Rays
Gem Cameo proof 1853 quarter with Arrows and Rays
Rare early proof coinage was featured as over $9.3 million in rare coins sold in the September 6-9 Heritage US Coins Signature Auction. The US Coin auction was one of four Heritage auctions held as official auctioneers of the Long Beach Coin and Collectibles Expo over the week. Overall, the Heritage Long Beach auctions combined to sell over $19.7 million in rare coins and currency. All prices include Buyer's Premium.

As any serious collector of 19th century proof coinage knows, proof coins of any denomination and year before 1858 or so are quite rare. As such, it should not be surprising that the two top prizes to change hands during the floor sessions of this auction were both pre-1858 proofs. A Gem Cameo proof 1853 quarter with Arrows and Rays, formerly from the Eliasberg collection, brought $94,000. In 1853, arrows were added around the date and rays were added to the reverse as a way of signifying a reduction in weight for both quarters and half dollars. While the arrows would remain until 1855, the rays were removed in 1854, making the Arrows and Rays design an important one-year subtype. Perhaps five proof 1853 Arrows and Rays quarters are known, making this example the most important issue among proof seated quarters.

1854 proof eagle
1854 proof eagle
Even rarer is the 1854 proof eagle, a coin that was unconfirmed to exist until very recently, and which may very well be unique. This coin, whose provenance remains unknown, is an unmistakable proof despite a light amount of wear consistent with a grade of Proof-55, and it sold for $88,125 at the Long Beach auction.

The second edition of the Garrett-Guth Gold Coin Encyclopedia, published as recently as 2008, called the existence of a 1854 proof eagle doubtful. In the book, the authors related an unsubstantiated story about a set of 1854 proof gold coins presented to the city of Bremen. At the time of the book's publication only the gold dollar, $2.50, and $3 were known and none could be connected to the Bremen set. Should this 1854 eagle be the Bremen coin, it might begin to substantiate the story, while simultaneously suggesting the existence of at least one proof 1854 half eagle and double eagle.

1897 double eagle
1897 double eagle
Post-auction sales resulted in the finest known 1897 double eagle changing hands for $147,500. Proof gold coinage of the 1890s is known for its beauty, and this coin, assigned a grade of Proof-67 Cameo, combines unparalleled technical merit with aesthetic beauty. Only 20-25 examples of the proof 1897 double eagle are believed known.

The Philip Clover of US Large Cents, a nearly complete collection of early US large cents by variety, altogether realized over $900,000, led by a 1795 Jefferson Head cent with Very Fine details that sold for $38,187. This collection contained over twenty die marriages that were so rare that Dr. William Sheldon, whose Penny Whimsy remains the standard reference book for early large cents, considered them uncollectable.

Just a few of the other highlights of this auction included:

1820(B) gold Brazilian 4000 Reis 1820(B) gold Brazilian 4000 Reis
Our Long Beach World and Ancient Coins auction, held September 6-11, accounted for sales of nearly $7.9 million, highlighted by an 1820(B) gold Brazilian 4000 Reis which sold for $129,250 against a pre-auction estimate of $50,000-$75,000. This coin, struck at the Bahia mint without a mintmark, is so rare that every reference we could find listed it simply as "Rare" or "Extremely Rare". The fact that this is also a mint state coin — graded MS62 by NGC — only adds to the tremendous appeal caused by the coin's extreme rarity.

Additional highlights of this auction included:

Australia, Reserve Bank 1 Dollar ND (1972) Pick 37s2 McDS11 Specimen
Rare Australian specimen notes dominated the results from our September 6-10 World Paper Money Signature Auction in Long Beach. A series of one dollar, two dollar, five dollar and ten dollar specimens, each from 1972, each exceedingly rare, and offered individually, sold for $21,150 per note. Joining each of these 1972 issues at the $21,150 level was a specimen twenty dollar note from 1974. Overall, this auction raised over $1 million for its consignors.

We are hard at work putting the finishing touches on our Dallas ANA offerings, which are scheduled for mid-October and include outstanding selections of both US coins and currency. These auctions will open for bidding very soon at HA.com/Coins and HA.com/Currency.

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Seldom Seen Selections: Specimen strike 1793 Wreath Cent

1793 1C Wreath Cent, Vine and Bars SP66 Brown NGC. S-6, B-7, R.3.
1793 1C Wreath Cent, Vine and Bars SP66 Brown NGC. S-6, B-7, R.3.
Our upcoming October 18-21 ANA US Coins Signature Auction in Dallas will feature a 1793 Wreath cent in the incredible grade of Specimen 66 Brown. This is the most perfectly preserved and singularly important early large cent we have ever had the privilege of offering at public auction. It will not be a bargain for its new owner, but then every time this coin has changed hands over the past 139 years it has cost its new owner dearly.

The condition of this coin is truly extraordinary. It was Breen's contention in his 1977 reference on proofs that this particular coin was struck on a burnished blank for presentation purposes. The surfaces do indeed display a brightness and vibrancy that is not seen on other Wreath cents we have encountered. Again, according to Breen, this piece is the one S-6 that most clearly qualifies as a presentation piece. The fields are bright and glow with semi-reflectivity. The design motifs also show an unparalleled degree of definition in all areas. Although there is no direct evidence of heavy metal flow in the fields, indirect evidence can be seen from the strongly bifurcated lettering around the peripheries, leading one to suspect that this coin may have been double struck. No surface flaws are immediately apparent. Examination with a glass does, however, reveal a speck of darker color to the left of the leftmost leaf above the date (a useful pedigree identifier), and a short angling mark on the cheek of Liberty. The color designation by NGC is Brown, and that is technically correct. However, in addition to the overall brown patina there is an overlay of olive with a strong presence of original red as well.

This coin is the Sheldon-6 variety, also known as the "Sprung Die" variety. This variety ranks among the most frequently encountered and easily recognized Wreath cents. In addition to the die bulge in the left obverse field that is present to some extent on all known examples of the S-6, this piece is lightly cracked from the bulge through the lower lip and on to the right border. Another crack appears in the upper right field, beginning at the sixth bead right of the Y, and other cracks are faintly visible in the lower hair curls. Equivalent to Die State V in the Breen Large Cent Encyclopedia, this is one of the last minted examples of S-6.

Breen used some numismatic hocus pocus to claim that the S-6 large cents were all part of the April 9, 1793, delivery of 12,000 Wreath cents. Certainly the S-6 was one of the earlier Wreath cent varieties minted, although it is clearly impossible to determine an exact date of manufacture. This piece is clearly a later state than the Die State II attributed in the S-6 census in the Breen reference. Nearly all of the census die states were determined through examination of photos, and in many cases those photographs were indistinct so that an exact die state determination was impossible.

Del Bland, whose condition census appears in the Breen Large Cent Encyclopedia, grades this coin MS61 and tied for second finest known, alongside the Richard Winsor-ANS coin. It is likely finer than the Winsor-ANS coin by a small margin. Only one clearly finer example of S-6 survives, and that piece also has a continuous provenance since the late 1800s. At our EAC grade of MS62, this is a true "museum quality" coin.

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Website Tips: How to enter multiple coins into MyCollection simultaneously

If you wish to enter a large group of coins of the same type into MyCollection, you can choose to enter a group of coins by coin type, such as Indian Head cents, Morgan Dollars, and so on. Once you reach the Add Item screen within your coins MyCollection, the entry by coin type will be at the top of the screen.

Let's say that you have several Indian Head Cents. Choose the coin type "Indian Cents" in the drop-down box. You will see something like this:

Check all the coins you wish to enter, noting the grade and the grading service as appropriate. Here, we've checked a raw 1860 cent in VF-30 condition and a PCGS-graded 1864 Bronze in MS-61 Brown. When you have checked every coin in this type in your collection, click on "Add Items". This will add all checked items to your collection and bring you back to the same Add Item page so that you can continue.

Click on the "Next>>" link to get to further listings of the type. Enter as many coins as you can from each page. Once you're done, a link will be available for you to review your entire collection, including newly added coins.

Please note that proof and circulation strikes from most series cannot be added at the same time; the only exceptions are modern commemorative and bullion coins.

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This Week's Top Ten

The ten most valuable Large Cents, one per variety, to sell in Heritage auctions:

1793 Chain 1C Periods MS65 Brown PCGS. CAC
1793 Chain 1C Periods MS65 Brown PCGS. CAC
  1. 1793 Chain 1C Periods MS65 Brown PCGS. CAC. S-4. Our EAC Grade MS60. Sold for $1,380,000.
  2. 1794 1C Starred Reverse. AU50 PCGS. S-48. Our EAC Grade XF40. Sold for $632,500.
  3. 1793 1C Liberty Cap. AU55 PCGS. S-13. Our EAC Grade AU50. Sold for $632,500.
  4. 1794 1C Head of '95. MS67 Red and Brown PCGS. S-67. Our EAC Grade MS65. Sold for $488,750.
  5. 1795 1C Reeded Edge Fine Details NGC. S-79. Our EAC Grade Good 5. Sold for $431,250.
  6. 1793 1C Liberty Cap, AU50+ PCGS. CAC. S-14. Our EAC Grade XF45. Sold for $299,000.
  7. 1793 1C Wreath Cent --Lettered Edge-- MS64 Brown PCGS. S-11c. Our EAC Grade MS60. Sold for $276,000.
  8. 1794 1C Head of '95. MS65 Red and Brown PCGS. S-71. Our EAC Grade MS65. Sold for $253,000.
  9. 1794 1C Head of '93. MS63 Brown PCGS. S-18b. Our EAC Grade AU55. Sold for $253,000.
  10. 1793 Chain 1C AMERICA MS62 Brown PCGS. S-3. Our EAC Grade AU50. Sold for $253,000.

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

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  Announcements

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

As the fastest growing American-based auction house, financially rock-solid Heritage Auctions continues to grow and seek the best talent in the industry. If you are a specialist or have strong general collectibles knowledge, we want to hear from you. These specialists will, in some cases, head new departments and in others will enhance existing department expertise. We have positions open at our headquarters in Dallas as well as at our new state-of-the-art galleries in prime locations in both Midtown Manhattan and Beverly Hills.

Heritage is seeking to hire the world's best specialists in the following categories:

  • 20th Century Design Specialist: Beverly Hills, New York
  • Asian Art Specialist: Beverly Hills
  • European Art Specialist: New York
  • Comics & Comic Art Specialist: New York
  • European Comic Art Specialist: Dallas, Paris
  • Fine Jewelry Specialist: New York
  • Firearms Specialist: Dallas
  • Modern & Contemporary Art Specialist: Beverly Hills and New York
  • Timepiece Specialist: Beverly Hills, New York
  • Trust & Estates Specialist: New York
  • World Coins Director: Hong Kong
  • World Paper Money Expert: Dallas/Remote

If you are interested and feel you have the qualifications we seek, please email your resume and salary history to Experts@HA.com.

We are also seeking to fill the following corporate positions:

  • Cataloger — Currency: Dallas/Remote
  • Client Services Representative: Dallas
  • Color & Photography Imaging Specialist: Dallas Contract
  • Consignment Director — Currency: Dallas
  • Desktop Support: Dallas
  • Desktop Support Supervisor: Dallas
  • Digital Publishing Expert: Dallas
  • Executive Assistant — Currency : Dallas
  • Graphic Designer: Dallas, Part-Time
  • Graphic Web Designer: Dallas
  • Interns: Dallas
  • Marketing Account Executive: Dallas, TX
  • Operations Assistant - Coins: Dallas
  • Production Assistant/Junior Photographer: Dallas
  • Public Relations Assistant: Dallas
  • Public Relations Assistant: Dallas
  • Returns Clerk: Dallas
  • Shipping Associate: Dallas
  • Web Developer: Dallas
  • Wine Warehouse Assistant: Beverly Hills

If you are interested in applying for one of these Corporate positions, please apply here.

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  Around Heritage

Jessie Willcox Smith's Goldilocks and the Three Bears tops Heritage Auctions' Oct. 13 Illustration event

Jessie Willcox Smith Goldilocks and the Three Bears
Jessie Willcox Smith's Goldilocks and the Three Bears, Swift's Premium Soap Products calendar illustration, 1916 (estimate: $100,000+), a dramatic and bold masterpiece of crayon and watercolor on board — and one of the great artists' finest masterpieces — will headline Heritage Auctions' Oct. 13 Illustration Art Signature Auction at the Fletcher-Sinclair Mansion (Ukrainian Institute of America), 2 East 79th Street (at 5th Ave.) in New York.

"It's hard to imagine a better piece of art to anchor this auction than Jessie Willcox Smith's brilliant fairy tale interpretation," said Ed Jaster, Senior Vice President of Heritage Auctions. "The auction, overall, features likely the deepest line-up of Golden Age and Classic illustration that Heritage has ever offered."

Smith's Goldilocks features all the elements of the artist's work that have made her one of the most sought-after of all the Golden Age illustrators. Her uncommon sensitivity to her subject, an impeccable use of color and texture and an ability to convey the entire story with a single image make this an exceptional example from an exceptional catalog of work.

Joseph Christian Leyendecker Startled PilgrimBolstering the Golden Age and Classic credentials of the auction are marquee pieces from the greatest names in the form's illustrious history, including J.C. Leyendecker's Startled Pilgrim, The Saturday Evening Post cover, Nov. 27, 1920 (estimate: $50,000+), Norman Rockwell's distinctly American The Long Shadow of Lincoln, study for story illustration, Saturday Evening Post, Feb. 10, 1945 (estimate: $40,000+) and John Philip Falter's Sunday Gardening, The Saturday Evening Post cover, July 1, 1961 (estimate: $35,000+).

Norman Rockwell (American, 1894-1978) The Long Shadow of Lincoln, study for story illustration, The Saturday Evening Post, February 10, 194.Frank Earle Schoonover's action-packed Brawn of These Lads Made the Pike a Match for a Pirate's Cutlass, 1922 is expected to bring $30,000+, while Maxfield Parrish's brilliant Fisherman on Pier, Life Magazine cover, Aug. 25, 1921 is estimated at $25,000+, and Howard Pyle's superb "Again, My Captain (Pirates)", New York Colonial Privateers, Harper's New Monthly Magazine page 35 illustration, Feb. 1895 should bring $20,000+.

Gil Elvgren(American, 1914-1980) Peek-a-View, Louis F. Dow Company calendar illustration, 1940As always, Pin-Up and Pulp art features prominently in the Heritage event, led by the King of Pin-Up Illustrators, Gil Elvgren and his amazing and iconic Peek-a-View, Louis F. Dow Company calendar illustration, 1940 (estimate: $60,000+).

Further Pin-Up and Pulp highlights include George Petty, Going Fishing, Brown and Bigelow calendar illustration, 1938 (estimate: $30,000+), Margaret Brundage, The Albino Deaths, Weird Tales pulp cover, March 1936 (estimate: $30,000+) and Earle Bergey, Romance Preferred, Bedtime Stories pulp cover, April 1935 (estimate: $5,000+.)

More information about illustration art auctions.

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Have You Checked Your Attic Lately?

As seen in over 100,000 media outlets, the Black Swamp Find of Baseball Cards.

View the complete video here!

More information about sports memorabilia auctions.

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  Heritage Interactive
Opinion Poll

Answer this quick question and see how your opinion compares with your peers.

1. Which is your favorite Modern Commemorative coin design?
       A) 1999 Washington $5
       B) 2001 Buffalo Dollar
       C) 1992 Olympic (Baseball) Dollar
       D) 1999 Dolley Madison dollar
       E) 2000 Library of Congress $10




Last week's questions:

1. Which of the following is your favorite Classic Commemorative coin design?
A) California Diamond Jubilee (10%).
B) Hawaiian Centennial (8%).
C) Oregon Trail (32%).
D) Panama Pacific Fifty Dollar (31%).
E) Stone Mountain (18%).

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  Is It Time To Sell?

Heritage is dedicated to selling your rare coins and currency for top dollar! That requires the right auction and the right venue. You deserve to be richly rewarded for your years of dedicated collecting, whether you wish to consign your entire collection or just one important piece. Contact us today to discuss your upcoming opportunities.

Our next Signature Auction will be November 29-December 2 at the Money Show of the Southwest in Houston. Contact us today at 800-872-6467 ext. 1000 to discuss your upcoming opportunities.

2012 November 29 - December 2 US Coin Signature Auction - Houston
Consignment Deadline: October 16, 2012

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
Sunday Internet Coin Auction Sunday Internet Coin Auction #131238
September 16, 2012
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Tuesday Internet Coin Auction Tuesday Internet Coin Auction #131238
September 18, 2012
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Thursday Modern Coin Auctions Thursday Modern Coin Auctions #241238
September 20, 2012
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Weekly World Coin Auction Weekly World Coin Auction #231238
September 20, 2012
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Currency Auctions
Tuesday Internet Currency Auction Tuesday Internet Currency Auction #141238
September 18, 2012
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Other Signature Auctions
2012 September 25 Silver & Vertu Signature Auction - Dallas 2012 September 25 Silver & Vertu Signature Auction - Dallas #5108
View Lots
2012 September 28-29 Fine & Rare Wine Signature Auction 2012 September 28-29 Fine & Rare Wine Signature Auction #5112
View Lots
2012 October 4-5 Historical Manuscripts Signature Auction - Beverly Hills 2012 October 4-5 Historical Manuscripts Signature Auction - Beverly Hills #6084
View Lots
2012 October 4-5 Rare Books Signature Auction - Beverly Hills 2012 October 4-5 Rare Books Signature Auction - Beverly Hills #6091
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2012 October 14 Natural History Signature Meteorite Auction - New York 2012 October 14 Natural History Signature Meteorite Auction - New York #6089
View Lots

Other Internet Auctions
Sunday Internet Movie Poster Auction Sunday Internet Movie Poster Auction #161238
September 16, 2012
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Sunday Internet Sports Collectibles Auction Sunday Internet Sports Collectibles Auction #151238
September 16, 2012
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Sunday Internet Comics Auction Sunday Internet Comics Auction #121238
September 16, 2012
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Weekly Internet Luxury Accessories Auction Weekly Internet Luxury Accessories Auction #251238
September 18, 2012
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Tuesday Internet Watch and Jewelry Auction Tuesday Internet Watch and Jewelry Auction #171238
September 18, 2012
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Thursday Vintage Guitar & Musical Instrument Internet Auction Thursday Vintage Guitar & Musical Instrument Internet Auction #181238
September 20, 2012
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Weekly Internet Rare Books and Autographs Auction Weekly Internet Rare Books and Autographs Auction #201238
September 20, 2012
View Lots

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