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In This Issue:
The Adam Mervis Large Cent Collection offered at FUN
FUN World Currency Auction opens for bidding
Seldom Seen Selections: Select Specimen 1852 Moffat Ten, only two known
This Week's Top Ten
Coin Buyer Wanted - Dallas Office
Reduced Auction Commissions When You Resell Your Winnings!
Employment Opportunities
Around Heritage Auctions
Instant Quiz
Is It Time To Sell?
Current Auctions
December 28, 2013
Newsletter Archive
Last Issue
The Adam Mervis Large Cent Collection offered at FUN
1795 1C Reeded Edge VG10 PCGS
1795 1C Reeded Edge VG10 PCGS
Heritage Auctions is proud to present The Adam Mervis Large Cent Collection, to be sold January 10 in conjunction with the Official Auction of the 2014 FUN Annual Convention.

Assembling a complete set of the 295 Sheldon-numbered varieties, with the nine additional sub-varieties, is among the greatest achievements of large cent collecting, a feat accomplished by only a handful of masters in the field. Adam Mervis accomplished that goal and then some.

1838 1C PR64 Red PCGS. N-11, Low R.6 as a Proof
1838 1C PR64 Red PCGS. N-11, Low R.6 as a Proof
Not only did Adam Mervis collect all the Sheldon varieties, including the legendary and extremely rare 1795 S-79 Reeded Edge cent, he also assembled a fine array of the Non-Collectibles as well, 39 coins representing 35 of the 53 NC varieties. How many collectors can claim to have owned two Strawberry Leaf cents at once? The Adam Mervis Large Cent Collection contains both the unique NC-2 variety and the second-finest NC-3, one of just three known examples. The 1794 NC-10, a Head of 1794 variety, is another unique piece within these pages. In fact, the 1794 large cents include every variety and sub-variety, both numbered and NC. This is only the third time that a complete set of the 69 coins has appeared in a single auction.

The Adam Mervis Large Cent Collection continues with a magnificent run of Middle Date and Large Date pieces, circulation and proof alike, including some of the rarest Newcomb varieties. Highlights here include the finest known 1818 N-4 Coronet cent, a Condition Census-worthy proof 1838 N-11 cent, and the finest of seven known 1849 N-25 cents. A handful of special error coins also are present, including a twice-struck 1798 S-149 cent that also happens to be Condition Census-worthy for the die pair.

twice-struck 1798 S-149 cent twice-struck 1798 S-149 cent
1794 1C Head of 1794 VF30 NGC 1794 1C Head of 1794 VF30 NGC


This auction is open for bidding now at HA.com/Coins.

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FUN World Currency Auction opens for bidding
A selection of Australian specimen notes highlights the selections in the 2014 January 9 & 13 FUN World Currency Signature Auction, taking place in conjunction with the Florida United Numismatists convention.

All told, there are 8 Australian specimen notes in this auction, highlighted by an undated (1984) Stone/Johnston $100 note, Pick 48s, graded Choice Uncirculated 64 by PMG. This note served as the plate note for the specimen $100 note in the Renniks Australian Coin & Banknote Values, 24th Edition. Australian specimen notes have proven to be highlights in past Rare World Paper Money auctions, and we expect this trend to continue.

undated (1984) Stone/Johnston $100 note, Pick 48s, graded Choice Uncirculated 64 by PMG
Another fascinating lot appearing in this auction is a complete set of the first series of notes issued by Syria, ranging in denomination from 5 to 500 Piastres. Each note is in absolutely stunning condition, with plenty of embossing remaining. These notes are roulette cancelled once, and printer's annotations are seen on the 500 Piastres note. This set is a must-have crown jewel of any advanced Middle Eastern collection.

complete set of the first series of notes issued by Syria
This auction also features extensive selections from Canada. China, India, South Korea, and Cuba, with further offerings from every corner of the world. Just a few of the additional highlights include:

This auction is open for bidding now at HA.com/Currency.

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Seldom Seen Selections: Select Specimen 1852 Moffat Ten, only two known
1852 $10 Moffat & Co. Wide Date Ten Dollar SP63 PCGS. CAC
1852 $10 Moffat & Co. Wide Date Ten Dollar SP63 PCGS. CAC
Private and territorial gold coins are among the rarest and most valuable issues in American numismatics. The Moffat & Co. ten dollar gold coins were struck to serve an urgent need for a circulating medium of exchange in the booming regional economy of the Gold Rush period, and nearly all examples seen show signs of the wear and rough handling they experienced in that role. Fortunately, a few remarkable specimens were specially struck and carefully preserved by their creators to serve as show-pieces and personal mementos of their work. Heritage Auctions is pleased to offer one of just two known specimen strikings of this historic issue in the January 2014 FUN Auction.

Moffat & Co. was probably the most important of the California private mints that sprang up after gold was discovered at Sutter's Mill in 1848. John Little Moffat was the senior partner of the smelting and assaying firm that was established in the summer of 1849 near the San Francisco waterfront. The business soon relocated to the corner of Clay and Dupont Streets, because tidal erosion threatened the stability of the first location. His junior partners were Joseph R. Curtis, P.H.W. Perry, and Samuel H. Ward, all of whom had worked for him in his previous firm in New York. They would continue the business after Moffat sold his interest on December 24,1851.

Moffat & Co. began issuing rectangular gold ingots with the fineness, weight, and dollar value hand-stamped on each bar shortly after they opened their business in 1849. The ingots, valued from $9.43 to $264, served a limited role as currency in the local economy for about two months. The irregular denominations made them difficult to use in most transactions and Moffat & Co. soon graduated to issuing circular $10 coins, after George Albrecht Ferdinand Kuner joined the firm as chief engraver in July of 1849. The new coins were well-produced, with both obverse and reverse designs that closely resembled the federally issued Liberty eagles of that era except for the inscription MOFFAT & CO. on the tiara instead of LIBERTY, and the legend S.M.V. CALIFORNIA GOLD on the reverse. The first ten dollar coins were issued in August of 1849 and Moffat & Co. offered to redeem their coins at face value in silver, inspiring the wide acceptance of the company's issues. The firm issued several varieties of five and ten dollar coins from the same basic designs in 1849 and 1850.

Unlike many private issues of the time, the coins of Moffat & Co. were universally accepted and widely acclaimed for their consistency and strict adherence to weight and fineness standards. This reputation enabled the company to secure a government contract to issue coins under the auspices of the U.S. Assay Office of Gold in 1851. Augustus Humbert, a New York watchmaker, was appointed United States Assayer and dies for the new coinage were engraved by famous sculptor Charles Cushing Wright and transported from New York to California by Humbert on his journey out. Moffat & Co. cancelled their own coining operations and moved to more spacious offices on Montgomery Street in anticipation of increased business under the federal contract.

Humbert arrived in San Francisco on January 30, 1851 and began striking coins with the dies Wright had made almost immediately. These coins were the famous fifty dollar "slugs" that became so famous in Gold Rush history. Although there was some criticism from local businessmen, who saw the Assay Office as just an inadequate substitute for a hoped-for United States branch mint, the new "government" coins quickly drove the lower-quality issues of the private coiners out of circulation, as they were soon melted down and recoined into slugs.

The Treasury Department was reluctant to approve the issue of smaller denomination gold coins in 1851, but because so many of these pieces had been converted into slugs, an acute shortage of five, ten, and twenty dollar coins severely hampered the regional economy. A petition from prominent San Francisco bankers and merchants convinced Moffat that his firm should produce small denomination gold coins under the old company name, acting independently of their government contract with the Assay Office to circumvent the Treasury Department's refusal to issue such coins. Moffat & Co. issued $86,500 in ten dollar gold pieces between January 12 and January 27 1852 to address this serious shortage. The obverse design was essentially the same as the earlier ten dollar issues, with the date coming in both Wide and Close varieties. The reverse features an eagle with ribbon and scroll that is quite similar to the motif on the slugs, with the legend reading 264 GRS. CALIFORNIA GOLD above and TEN D. below. The present coin is one of the finest survivors of this daring commercial exploit.

The present coin is much different from the usually seen worn and heavily marked example of this issue. In addition to its impeccable preservation, this coin was obviously specially prepared and struck. This gives a clue to its original owner, as all known proof and specimen strikings of California private gold issues were struck at the behest of United States Assayer Augustus Humbert. Humbert's private collection, most of which was sold to Captain Andrew Zabriskie by his executors after his death in 1873, included proof examples of the 1852/1 U.S. Assay Office of Gold twenty, 1851 Humbert fifty dollar slug, 1854 Kellogg twenty, and four 1855 Kellogg fifties. Although Humbert may not have retained all the known Kellogg fifties (14 known), which were all struck in proof format, he is almost certainly the man responsible for their striking and initial dispersal (a number of these pieces was also saved by his partner, John Glover Kellogg).

A smaller collection was retained by Humbert's brother Pierre until his death in 1901. When that gathering was sold in the Weeks-Humbert Collection (S.H. & H. Chapman, 5/1902), it contained another proof specimen of the 1855 Kellogg fifty and a magnificent, SP67 example of the 1852 Moffat ten, a twin brother to the present coin. These coins, which can all be traced to Humbert, and the present example constitute a complete census of all the proof and specimen California private gold issues we are aware of, except for the now doubtful 1853 USAOG proof twenties. Although we can find no documented link from this coin to Humbert, it seems overwhelmingly likely that he had the coin struck for some purpose and caused it to be carefully preserved afterward.

The coin offered here is a stunning specimen striking, graded SP63 by PCGS, with deeply reflective fields that show swirling lathe marks around the devices. The design elements are sharply rendered and perfectly centered and the well-preserved yellow-gold surfaces are remarkably free of contact marks, although a few hairlines are present. A small depression on Liberty's cheek is the only pedigree marker of note. A small obverse rim cud is visible at 5 o'clock and a couple of die cracks extend from the G in GOLD to the ribbon on the reverse, features that are also present on the other specimen example of this issue. Eye appeal is extraordinary for any territorial gold issue.

This coin has been off the market for seven years and before that it was not available for decades. The advanced territorial gold collector should bid accordingly.

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This Week's Top Ten
The ten Territorial gold coins to sell for the highest prices in Heritage auctions:

1852 Humbert Ten Dollar MS68 NGC. CAC. Kagin-10
1852 Humbert Ten Dollar MS68 NGC. CAC. Kagin-10
  1. 1852 Humbert Ten Dollar MS68 NGC. CAC. Kagin-10. Realized $1,057,500
  2. 1855 Kellogg & Co. Fifty Dollar PR64 PCGS. K-4. Realized $747,500
  3. 1860 Clark, Gruber & Co. Twenty Dollar MS64 NGC. Kagin-4. Realized $690,000
  4. 1851 LE Humbert Fifty Dollar, 880 Thous. MS63 PCGS. No 50 on Reverse, K-2. Realized $546,250
  5. 1851 LE Humbert Fifty Dollar, Lettered Edge, 880 Thous. MS63 NGC. K-2. Realized $352,500
  6. 1854 Kellogg & Co. Twenty Dollar MS64 PCGS. Short Arrows, K-1a. Realized $299,000
  7. 1851 LE Humbert Fifty Dollar, 880 Thous. 50 Rev. MS62 NGC. Lettered Edge, With 50 on Reverse, K-1. Realized $287,500
  8. 1851 LE Humbert Fifty Dollar, 880 Thous. MS63 NGC. Lettered Edge, No 50 on Reverse, K-2. Realized $264,500
  9. 1851 LE Humbert Fifty Dollar, 887 Thous. 50 Rev.--ASSAYER Inverted--MS61 PCGS. Kagin-4. Realized $241,500
  10. 1851 Schultz & Co. Five Dollar AU53 PCGS. CAC. K-1. Realized $235,000
Do you have a suggestion for a future top ten list? Send it to us!

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Announcements
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 Jobs@HA.com.

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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 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 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:

  • Asian Art Specialist
  • Automobilia Specialist
  • Coin Buyer
  • Decorative Arts & Design Specialist
  • European Art Specialist
  • Modern & Contemporary Art Specialist: (New York, Beverly Hills)
  • 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 Experts@HA.com.

We are also seeking to fill the following corporate positions:
  • Client Data Specialist part-time
  • Client Services Representative
  • Consignment Coordinator
  • Currency Consignment Director
  • e-Publishing Expert
  • Interns
  • Maintenance Assistant
  • Operations Assistant
  • Web Marketing Specialist
  • U.S. Coin Cataloger Needed
If you are interested in applying for one of these Corporate positions, please apply here.

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Around Heritage Auctions
Fine & Decorative Arts is always seeking quality consignments.

Rembrandt Peale: George Washington, circa 1856
Contact one of our experts today!

Featured at right:
Rembrandt Peale
George Washington, circa 1856
Oil on canvas
Sold for $662,500 (May 2013)

More information about fine & decorative art auctions.

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Instant Quiz
Trivia

1. Which of the following coins does not have the mintmark on the obverse?
       A) 1838-C quarter eagle
       B) 1838-O half dollar
       C) 1851-O three cent piece
       D) 1923-S quarter
       E) 1927-D double eagle


2. What is the lowest mintage quarter minted in the 20th century?
       A) 1901-S
       B) 1913-S
       C) 1916 Standing Liberty
       D) 1932-D
       E) 1932-S



Last week's question:

1. Which of the following half dollar types was minted for the longest period of time?
Correct Answer: D) Seated Liberty (40%).

2. During which years were Special Mint Sets made available to the general public?
Correct Answer: B) 1965-1967 (70%).


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Is it Time to Sell?
The upcoming Atlanta ANA auction to be held February 27th through March 2nd already has standout collections consigned and now is your chance to participate in this stellar auction. Our proven track record of success when partnering with the American Numismatic Association always ensures strong auction results. The January 14th deadline is quickly approaching so act now to ensure your spot in this legendary event. Call our Consignment Hotline at 1-800-872-6467 x1000 today!

2014 February 27 - Mar 2 US Coins Signature Auction - Atlanta
Consignment Deadline: January 14, 2014

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

Interested in Selling?
What's My Coin Worth?
Consign to a Heritage Auction

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Current Auctions
Coin Auctions
January 5 - 6 World & Ancient Coin Signature Auction - New York #3030
January 5 - 6 World & Ancient Coin Signature Auction - New York #3030
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January 8 - 12 FUN US Coin Signature Auction - Orlando #1201
January 8 - 12 FUN US Coin Signature Auction - Orlando #1201
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January 8 - 12 FUN US Coin Signature Auction - Orlando #1201
Platinum Night
Part of Auction #1201
January 9th at 5:00 PM CT
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January 10 The Adam Mervis Large Cent Collection FUN Signature Auction - Orlando #1200
January 10 The Adam Mervis Large Cent Collection FUN Signature Auction - Orlando #1200
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January 14 - 16 Selections From the Eric P. Newman Collection Part III Signature Auction - New York #3029
January 14 - 16 Selections From the Eric P. Newman Collection Part III Signature Auction - New York #3029
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January 20 - 21 World and Ancient Coins Non Floor Session Auction - Dallas #3031
January 20 - 21 World and Ancient Coins Non Floor Session Auction - Dallas #3031
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Sunday Internet Coin Auction Sunday Internet Coin Auction #131353
Closes December 29
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Tuesday Internet Coin Auction Tuesday Internet Coin Auction #131353
Closes December 31
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Weekly World Coin Auction Weekly World and Ancient Coin Auction #231401
Closes January 2
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Currency Auctions
January 8 - 10 & 13 FUN US Currency Signature Auction - Orlando January 8 - 10 & 13 FUN US Currency Signature Auction - Orlando #3526
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January 9 & 13 FUN World Currency Signature Auction - Orlando January 9 & 13 FUN World Currency Signature Auction - Orlando #3523
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Tuesday Internet Currency Auction Tuesday Internet Currency Auction #141353
Closes December 30
Note: This auction is closing a day earlier due to the holiday
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Other Internet Auctions
Sunday Internet Sports Collectibles Auction Sunday Internet Sports Collectibles Auction #151352
Closes December 29
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Sunday Internet Comics Auction Sunday Internet Comics Auction #121352
Closes December 29
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Sunday Internet Movie Poster Auction Sunday Internet Movie Poster Auction #161352
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Weekly Internet Luxury Accessory Auction Weekly Internet Luxury Accessory Auction #251353
Closes December 31
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Tuesday Internet Watch & Jewelry Auction Tuesday Internet Watch & Jewelry Auction #171353
Closes December 31
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Weekly Internet Rare Books and Autographs Auction Weekly Internet Rare Books and Autographs Auction #201401
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