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This Week in Coin News
||October 5, 2013
Nearly $17.5 million in rare US coins
sell in Long Beach
The September 25-October 2 Long Beach auctions are complete, with
US coins crossing the block for a total of nearly $17.5
million. This auction, along with auctions of
world & ancient coins, was held in conjunction with the
Long Beach Coin & Collectibles Expo. Overall, the Heritage Long
Beach auctions brought in nearly $36 million. All prices include
The top lot among US coins was a
1879 Flowing Hair $4 gold piece, or Stella. This ever-popular
coin, technically a pattern, is hugely popular both because of its
listing in the Red Book and its odd denomination. It was originally
envisioned as a trade coin designed for interstate commerce, but
the idea was abandoned as impractical. This example, graded Proof
65 Cameo by PCGS, crossed the block at $193,875.
Our Long Beach offerings included a complete 1912 gold proof set
originally acquired directly from the Mint. The early part of the
20th century saw considerable experimentation with proof
finishes as the mint moved away from the familiar reflective finish
seen on earlier (and again on later) proof coinage. Gold coins were
minted with a dull matte or sandblast finish beginning in 1908, and
while this change proved to be unpopular with collectors at the
time, these coins today are both quite rare and generally very well
preserved. Each of the coins in this set graded Proof-66 or
Proof-66+. The coins were offered individually, realizing a total
of $358,375, with the
PR66+ double eagle selling for $164,500.
Three examples representing the three distinct varieties of the
extremely rare proof
1864 cent with L on ribbon were offered in this auction, and
all three sold for six-figure prices. Only twenty examples of this
issue, in any variety, are traced today. An example of the
Snow-PR2 variety graded Proof-65 Red by NGC sold for $141,000,
Snow-PR1 example graded Proof-66 Brown by PCGS sold for
unique Snow-PR3 coin, graded Proof-64 Red by PCGS realized
$123,375. In addition, a pattern example of this coin struck in
aluminum, graded Proof-65 Cameo by PCGS, sold for $88,125.
Just a few of the many other highlights of this auction included:
Our next US coin auction, scheduled for
November 1-3 in New York, is scheduled to open soon for bidding
1831 25C Large Letters PR66 NGC. B-1, R.8 as a proof sold for
1915-S Panama-Pacific 50 Dollar Round, MS64 NGC sold for
Kellogg & Humbert 17.12-Ounce Gold Ingot Recovered from the
S.S. Central America. CAGB-410 sold for $105,750
1926-S 5C MS65 PCGS Secure. CAC sold for $105,750
1915-S Panama-Pacific 50 Dollar Octagonal MS64 NGC. CAC sold
1838 50C PR64 NGC. GR-14 sold for $94,000
1915-S Panama-Pacific 50 Dollar Octagonal, MS64 NGC sold for
1826 50C PR65+ NGC. O-101, High R.7 as a Proof sold for
1853 50C Arrows and Rays MS66+ PCGS sold for $76,375
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Seldom Seen Selections: The Finest
Certified 1796 Quarter
It is our privilege to offer the
finest certified 1796 quarter as a part of the
Selections from the Eric P. Newman Collection Part II Signature
Auction to take place 2013 November 15 – 16 in New York City.
This coin has been graded MS67+ by NGC, and it also bears the star
designation for outstanding eye appeal. One look at the images will
show you why.
The Mint Act of April 2, 1792 specified five silver denominations,
half dimes, dimes, quarters, half dollars, and silver dollars. The
half dollars and silver dollars first appeared in 1794, the half
dimes in 1795 (although dated 1794), and the dimes and quarters in
1796. The two largest denominations were important trade coins and
were the most requested denominations of the Bank of the United
States. The smaller denominations were added to supply the late
18th century commerce with desperately needed small change.
The Philadelphia Mint coined 5,894 quarter dollars during the
second quarter of 1796 with deliveries dated April 9, May 27, and
June 14. Another small delivery of 252 coins was dated February 28,
1797. The total of 6,146 coins was accomplished through the use of
two obverse dies and one reverse die. Current rarity ratings for
the two varieties indicate that as many as 700 examples survive.
NGC and PCGS have certified 510 pieces in all grades with an
average grade slightly below VF30.
The current standard reference is Early Quarter Dollars of the
United States Mint, 1796-1838, by Rory R. Rea, Dr. Glenn
Peterson, Bradley S. Karoleff and John J. Kovach, Jr., published in
2010, and hereinafter identified as Early Quarter Dollars.
The authors estimate that 56 to 75 Mint State 1796 quarters
survive. That survival estimate is likely quite accurate.
Rumors have circulated for nearly seven decades
that there was once a hoard of Mint State 1796 quarters owned by
"Col." Green. The size of the hoard, according to the rumors,
ranged from nearly 100 coins to 200 coins. The rumors began with
Abe Kosoff who reported seeing nearly 100 pieces when Green's
collection was dispersed. Those rumors are false, and Ned Green
never owned any quantity of 1796 quarters. His original inventory
survives, and lists exactly six Mint State Draped Bust quarters,
most likely a date set including one 1796, and one each of the 1804
through 1807 issues, including the overdate. Green formed an
extremely large collection, and never sold anything. Had he been in
possession of a hoard of 1796 quarters, they would have appeared in
his inventory. Collectors can now bid with confidence, knowing that
there is no hidden hoard of Mint State 1796 quarters. The Eric P.
Newman Numismatic Education Society is retaining a Choice Mint
State example of the Browning-1 die marriage, plated in Early
Quarter Dollars of the United States Mint, to illustrate the
first U.S. quarter dollar.
Eric P. Newman's 1796 B-2 quarter dollar, earlier from the "Col."
E.H.R. Green Collection, is a remarkable specimen. The strike is
nearly full, showing weakness on a few hair strands at Liberty's
forehead, and on the eagle's head and breast. However, the
sharpness of this specimen equals or exceeds any other specimen
seen. The devices are squared and appear as three-dimensional
objects resting on the flat fields, rather than gradually rising
out of the fields without distinct boundaries. The edge reeding is
crisp and bold, suggesting that a special planchet was chosen for
Evidence of double striking is noted on both sides, including many
of the obverse dentils, the date, and LIBERTY. The reverse also
shows evidence of double striking on many of the legend letters,
especially on STATES OF. Fine finishing lines are evident,
primarily on the obverse. The strike shows nearly perfect
centering, and there is no evidence of adjustment marks to even the
slightest degree on this specimen. The fields on both sides are
fully and deeply mirrored, including evidence of mirrored finish
between the dentils.
The die state is early, with a delicate die crack from the border
to star 14. That crack is unlisted in the literature, and likely
not visible on lower grade coins. A short die line or crack
connects the upper points of star 3 into the field. The frequently
encountered die cracks at ERTY are not present on this specimen.
The reverse shows a delicate crack through the tops of OF that is
also unrecorded in the literature. Die state analysis shows that
the 1796 B-2 quarters were struck before the B-1 pieces, and this
example was one of the earliest strikes from the B-2 die pair. It
is one of the first 1796 quarter dollars produced at the
Philadelphia Mint. The evidence points to the Newman specimen as
the finest existing 1796 quarter dollar, and it should be
designated as a Specimen strike.
Newman 1796 quarter ranks as the most beautiful surviving
example and exhibits quintessential Wayte Raymond album toning,
gorgeous gunmetal-blue at the borders, gradually changing through
orange-gold to nearly brilliant silver at the centers. The authors
of Early Quarter Dollars of the United States Mint chose
this coin to illustrate the cover of their book. It is also the
plate coin for the die marriage on page 8. The present cataloger
has been involved with some of the most important collections to
appear in the past quarter century, and chooses this 1796 quarter
dollar from the Eric P. Newman Collection as the most beautiful
American silver coin that exists today.
Items being sold are from the extensive collection of Eric P.
Newman Numismatic Education Society (a Missouri not-for-profit
corporation) and have been assembled over a period of 90 years.
Proceeds of the sale of all items will be used exclusively for
supplementing the Society's museum operations and scholarly
numismatic research efforts and for the benefit of other
not-for-profit institutions selected by Eric P. Newman Numismatic
Education Society for public purposes.
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Website Tips: Phone Bidding
If you've ever been to a Heritage Signature
auction, you've probably noticed people near the front of the room,
hard at work during the floor session taking bids over the phone
from people all around the country and sometimes around the world.
Now, there is a way to sign up for this service without leaving
On the individual item page for each lot where phone bidding is
available, you will see a small telephone icon, along with a link
that says "Request to Phone Bid". To sign up, simply click on the
This will bring up the familiar Heritage registration page, but
with a twist. You will still need to enter your username (or e-mail
address) and password, but there is also a place for you to enter
the phone number where you can be reached the day of the auction.
This will allow us to contact you before the auction to best help
you bid on — or even pass on — the lot you want.
We recommend that phone bidding be used in conjunction with a proxy
bid from the Heritage website. We will have the amount of any proxy
bids you might have placed from the Heritage website available, in
order to ensure that you cannot bid against yourself. Indeed, it is
common for people who have signed up for phone bidding to be on the
phone with a Heritage representative when their Internet proxy bid
wins the lot!
Please note also that phone bidding is not necessarily available
for all lots. The auction must include a floor session, of course,
but there is often a minimum dollar amount for the item. For coins,
phone bidding is limited to lots valued in excess of $4000, as
determined by the current bid. Other Heritage venues will vary;
please check the lot you are interested in to find out more.
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The ten highest valued 20th century P-mint coins to sell
in Heritage auctions, one per issue:
1913 5C Liberty PR64 NGC. Realized $3,737,500
1907 Ultra High Relief, $20 Lettered Edge PR69 PCGS. Realized
1907 $10 Satin PR67 NGC. Realized $2,185,000
1921 $20 MS66 PCGS. Realized $1,092,500
1907 $20 Small Edge Lettering PR68 PCGS. Realized $920,000
1907 $20 High Relief, Wire Rim MS69 PCGS. Realized
1933 $10 MS65 PCGS. Realized $552,000
1907 $20 High Relief, Flat Rim PR69 NGC. Realized $534,750
1907 $10 Rolled Edge MS67 PCGS. Realized $460,000
1907 $10 Wire Rim, Plain Edge, Judd-1902, formerly Judd-1774A, R.8,
PR62 NGC. Realized $359,375
Do you have a suggestion for a future top ten list?
Send it to us!
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Coin Buyer Wanted - Dallas Office
Heritage Auctions is seeking talented numismatists with a broad
range of expertise to join our Dallas office. If you have a good
working knowledge base of U S. coins and currency and are
comfortable dealing with the public, we have openings for permanent
positions as a buyer. Duties will include dealing with walk-in
clients, evaluating and purchasing coins and currency, working
local coin shows, and accepting Auction consignments. Pay will be
commensurate with numismatic experience.
If you are interested in this position, please contact
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Reduced Auction Commissions When You Resell Your
When you win any lot worth with a hammer price of $1,000 or more
(or $2,500 for Art and Nature & Science 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
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
- 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 &
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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:
- Asian Art Specialist
- Classic Cars Specialist
- Coin Buyer
- Decorative Arts & Design Specialist
- European Art Specialist
- Modern & Contemporary Art Specialist: (New York,
- World Coins Director: Hong Kong
If you are interested and feel you have the qualifications we
seek, please email your resume and salary history to
We are also seeking to fill the following corporate
- Client Data Specialist part-time
- Client Services Representative
- Currency Cataloger
- Currency Consignment Director
- e-Publishing Expert
- Graphic Designer
- Maintenance Assistant
- Shipping Associate
- Web Marketing Specialist
If you are interested in applying for one of these Corporate
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Fluorite Specimen May Bring $200,000+ As Part II
Of The Hoppel Fine Mineral Collection
A monumental purple cube of
Fluorite accented by crystals of Baryte, Sphalerite, and
Calcite — a rare discovery from the Elmwood Mine near Carthage,
Tenn. — is expected to sell for $200,000+ as Part II of the
record-setting Hoppel Collection, returns Oct. 19-20 at Heritage
Auctions. Headlining the 519-lot
Nature & Science Signature® Auction, the Hoppel Collection
set the mineral world on fire and claimed several records following
its nearly $4 million June debut.
"The spring opener was just a taste of the treasures in the
Hoppel Collection," said James Walker, Director of Nature &
Science at Heritage. "This round presents the very best examples of
common minerals as well as rarities you'd only ever see in museums
or in the very best private collections around the world. The
Fluorite is a world class, drop-dead gorgeous specimen and many of
the specimens should go on exhibit in a museum."
Leading the top examples is a
large and rare spray of golden Legrandite discovered in
Durango, Mexico, which is expected to sell for $150,000+. An
enormous bright yellow
Sicilian Sulfur crystal expected to bring $80,000+. A near
gemstone-quality example of cobalt blue
Azurite surrounded by rust orange Pyrite and Sulfides may bring
$25,000+. Brilliantly reflective crystal faces
of Hematite encased in Andradite Garnet and Calcite are
expected to bring $20,000+.
The auction holds specimens from every continent (except
Antarctica) including a
Tourmaline displaying colorful sprays of blue and pink crystals
towering 13 inches tall, which is expected to fetch $55,000+. A
Aquamarine tipping in at an astounding 5,021.5 carats, is
expected to sell for $35,000+ and a seldom seen but very fine
Imperial Topaz gemstone from the Southeast Region of Brazil, is
expected to bring $32,000+.
A particularly large specimen of dark orange
Scheelite pyramids, discovered in a remote mountain district
near the heart of a Chinese panda preserve, and surrounded by a
complex field of bladed Muscovite Mica crystals may bring $15,000+.
A dazzling example of sparkling green
Dioptase on Calcite may sell for $15,000+.
Like twigs beneath a coating of winter ice, an unusual
transparent layer of
Fluorite covering silvery prisms of Stibnite may cross the
block for $12,000+ and a striking green specimen of
Pyromorphite may fetch $12,000+. A stunning example of
Calcite crystals jutting from a sea of rust red microcrystals
from China's famed Leiping Mine may bring $10,000+.
The event also features a non-floor session presenting of more
than 100 high-quality specimens and "a few sleepers we through in
just to make sure people are paying attention," Walker said.
More information about nature & science auctions.
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