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In This Issue:
Eric P. Newman Collection Part III offered January 14-16 in New York
Seldom Seen Selections: 1879 Coiled Hair Stella
Website Tips: Bid Protection for Live Proxy Bids
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?
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January 4, 2014
Newsletter Archive
Last Issue
Eric P. Newman Collection Part III offered January 14-16 in New York
Austria: Salzburg. Markus Sittikus Graf von Hohenems gold 14 Ducats 1612
Austria: Salzburg. Markus Sittikus Graf von Hohenems gold 14 Ducats 1612
Selections from the Eric P. Newman Collection of World Coins Part III will be offered by Heritage Auctions Jan. 14-16, 2014 at our Park Avenue location, in New York City. Parts I and II of the famed numismatist's collection, auctioned in 2013, have realized more than $27 million, garnering international media attention. Lot viewing will take place Jan. 8-15.

"Eric P. Newman's collection of world coins takes us on a voyage through numismatic history: from Tierra del Fuego to the Rio Grande, across the Atlantic through the European continent, moving east into Russia, south into Asia, and west into Africa," said Cristiano Bierrenbach, Vice President at Heritage Auctions. "This true international coin collection, featuring superb rarities from more than 40 countries, will be presented in a dedicated catalog."

Today, at 102 years old, Eric P. Newman is the foremost United States numismatic researcher and author. In addition to assembling one of the single finest collections of U.S. coinage ever seen, Newman accumulated a premier collection of world coins and medals. His enjoyment of travel and adventure is a significant part of his never-ending quest for knowledge of the world and its inhabitants.

"Eric P. Newman has visited more than 150 countries in his extensive travels with his wife Evelyn," said Bierrenbach. "These amazing coins are a testament to his global voyages."

German States: Emden. Leopold I City 2 Taler 1674
German States: Emden. Leopold I City 2 Taler 1674
"While the Newman collection is very diverse, perhaps the strongest overall section consists of the German and Austrian coins," said Bierrenbach. "There are many rare and previously-unknown specimens that are sure to set new records."

Of the many highlights of this grouping, an extraordinary Austrian gold 14 ducats from Salzburg, struck in 1612 under Markus Sittikus Graf von Hohenems, deserves special attention. Other coins of note include a 1672 Saxe-Altenburg gold 10 Ducats, struck under Duke Friedrich Wilhelm III, as well as an artistic 1674 Emden "City-View" 2 Taler.

The coins of Great Britain are also well represented in the Newman collection. Some noteworthy pieces include: a superbly preserved Alfred the Great portrait Penny, a magnificent and bold Mint State Rose Ryal and an exceptional James VI gold 80-Shillings "Hat Piece."

Russia: Peter II gold Ducat 1729
Russia: Peter II gold Ducat 1729
With coins ranging from early hammered to modern rarities, there are also many notable Italian coins in the collection. One of the highlights is a 1902 Vittorio Emanuele III 20 Lire, a classic Italian rarity. Other featured coins include a Pope Leone X 2.5 Ducati and a Pope Paolo III 2 Fiorini di Camera.

The Newman Collection possesses a wide variety of Latin American high points, such as a rare 1841 Ecuadorian 4 Escudos from the Quito mint, a previously unrecorded 1751 Guatemalan Escudo of Ferdinand VI and what is certainly the finest known Carlos II Cob 4 Escudos from Peru.

"We've had numerous inquiries from Russian collectors regarding some of the extremely rare gold coins in this collection," added Bierrenbach. "Some of the highly anticipated coins are the exceedingly rare 1729 Peter II Ducat, the very desirable 1748 Elizabeth Ducat and the 1766 Catherine II 10 Roubles."

Eric P. Newman also focused on collecting Swedish coinage. A few of his many outstanding pieces include the rare 1599 Carl IX Daler, a Swedish Possessions Taler of Carl XI from Livonia-Latvia and a 1767 Adolf Frederik gold medal that has a pedigree that can be traced back nearly 250 years.

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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Seldom Seen Selections: 1879 Coiled Hair Stella
1879 $4 Coiled Hair, Judd-1638, PR66 Cameo PCGS Secure
1879 $4 Coiled Hair, Judd-1638, PR66 Cameo PCGS Secure
The 1879 Coiled Hair stella is one of the rarest and most valuable issues in American numismatics. The coins possess a beauty of design and intense historic interest that few issues can match, in addition to their absolute rarity. The infrequent auction appearances of Coiled Hair examples are met with spirited bidding from pattern enthusiasts and advanced U.S. gold collectors alike. The most recent public offering realized a price in excess of $1 million. Heritage Auctions is pleased to offer one of the finest known examples of this iconic issue, graded Proof-66 Cameo by PCGS, in our January 2014 FUN auction.

All stellas are technically patterns for a proposed international coinage that was intended to function much as the euro does in the EU today. Two designs were produced, the Flowing Hair motif by William Barber and the Coiled Hair design by George Morgan. Both types were produced in successive years in 1879 and 1880, but only the 1879 Flowing Hair type is seen with any regularity, as several hundred restrikes were made of that issue. Both designs were also struck in copper, aluminum, and white metal. Although the stellas were ostensibly produced in the goloid alloy patented by Dr. Wheeler Hubbell, recent research suggests that all the "Goloid" stellas were struck on half eagle planchets that were filed down to reduce the gold content to the proper level. This procedure resulted in the parallel striations seen on all known examples.

As mentioned above, the 1879 Coiled Hair stella is much more elusive than its Flowing Hair counterpart. Contemporary collectors believed only 10 coins were struck, but a few more examples are known today, so either the initial mintage was slightly larger or there was a small restrike mintage in 1880. The PCGS CoinFacts website estimates 12-15 examples are extant in all grades, and this corresponds well with the roster in our catalog, which lists 13 distinct specimens, including three that are impounded in institutional collections.

Like many Flowing Hair examples, the Coiled Hair stellas were marketed as part of three-coin Goloid sets, including an example of the Goloid dollar, Judd-1622, a Metric dollar pattern, Judd-1631, and the Coiled Hair stella, Judd-1638. One of the earliest auction appearances of such a set was in the John Colvin Randall Collection in 1882, where it was described as "Excessively Rare."

The coin we are offering at FUN claims the longest pedigree of any 1879 Coiled Hair stella. It traces its history to the fabled Garrett Collection, founded by T. Harrison Garrett in the second half of the 19th century. The Garrett family managed the B. & O. Railroad, which is famous today as one of the railroad properties in the popular Monopoly board game. T. Harrison Garrett was a connoisseur of numismatics and, even though he died young in a boating accident, he had the resources to assemble one of the finest cabinets of the 19th century. His collection, including the coin offered here, was passed on to his sons, who continued to add to and upgrade their holdings until John Work Garrett passed away in 1942. The collection was donated to Johns Hopkins University after his death, and finally dispersed in a series of sales by several auction companies after 1976. When this coin was featured in lot 431 of the Garrett Collection, Part I (Bowers and Ruddy, 11/1979), it realized $115,000, a staggering price for any coin at that time.

This coin is a magnificent Premium Gem, with razor-sharp definition on most design elements, showing just a touch of softness on some hair strands due to the always present planchet striations. These striations are minimal on this specimen and not nearly as noticeable as they appear on some examples. The devices display a richly frosted texture that creates intense cameo contrast with the deeply mirrored fields. The well-preserved yellow-gold surfaces are virtually pristine, with just a tiny mark between star 1 and the dentils and a microscopic spot above the 8 in the date to act as pedigree markers. This coin possesses terrific eye appeal to complement its high technical grade and outstanding pedigree. A comparable specimen may not become available for decades.

This piece has been offered in several notable collections since the Garrett sale, always causing intense excitement and realizing higher prices at every appearance. It has been off the market for more than a decade now, realizing a stunning $310,500 in its last offering in Stack's 65th Anniversary Sale. Considering the prices recent offerings have realized, we expect it to bring a multiple of that total at FUN.

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Website Tips: Bid Protection for Live Proxy Bids  
If you've ever placed Live Proxy bids through Heritage Live in one of our live auctions, you may have used the Bid Protection option, which will raise your bid one increment if it is necessary to win the lot.

Now, Bid Protection is available in regular Proxy Bidding through the Heritage website. For all items in auctions with a Live component (Signature and Grand Format auctions, Signature Internet Session, Rare Book Internet auctions), you will see the Bid Protection option whenever you place a bid from the item's individual page. To use this feature, just click on the Bid Protection checkbox when you place your bid, as pictured below.



Bid Protection is only available for auctions with a live component. It can currently only be added through bids from individual item pages or from Heritage Live; it is unavailable through Batch Bidding. More Bid Protection features are coming soon.

Other Website Tips
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This Week's Top Ten
1861-D $5 MS63 PCGS. CAC
1861-D $5 MS63 PCGS. CAC
The eleven highest valued circulation strike Liberty half eagles to sell in Heritage auctions:

  1. 1861-D $5 MS63 PCGS. CAC. Realized $207,000
  2. 1842-C $5 Small Date MS63 NGC. CAC. Realized $166,750
  3. 1873-CC $5 MS62 PCGS. Realized $161,000
  4. 1842-C $5 Small Date MS62 PCGS. Realized $150,001
  5. 1842-C $5 Small Date MS63+ PCGS Secure. Realized $141,000
  6. 1842-C $5 Small Date MS62 PCGS. CAC. Realized $126,500
  7. 1899-S $5 MS69 NGC. Realized $103,500
  8. 1839 $5 MS64 PCGS. Realized $80,500
  9. 1840-C $5 MS64 NGC. Realized $79,499
  10. 1842-C Small Date AU 58 PCGS. Realized $77,625
  11. 1842-C $5 Small Date MS61 NGC. Realized $77,625
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

Banknote Designer Collection Featured at FUN Currency Auction

Unique Set of Designer & Engraver Autographed 1996 New Design Notes
A rare and important group of $20, $50 and $100 "Big Head" notes signed by principal designers, ranging from the portrait engraver to the letter/script engraver, is expected to sell for $4,000+ to lead Chief Banknote Designer Jack Ruther's private collection at Heritage Auctions' Florida United Numismatists Currency Signature Auction Jan. 8-10 and Jan. 13 in Orlando, Fla.

"It's certainly one of the most unique and historically important collections we've ever handled," said Dustin Johnston, Director of Currency Auctions at Heritage. "Mr. Ruther trusts us with a very important keepsake for future generations and we fully expect collectors will appreciate this opportunity."

Ruther, the long-time Chief Banknote Designer for the Bureau of Engraving & Printing, personally supervised the Bureau's design team and was responsible for the most major design changes on U.S. Currency since 1929. Although his currency redesign project was first initiated in the 1980s, the serious work began in 1992, when the Treasury Department authorized the redesign of all currency above the $5 note. Final approval of the New Currency Design prepared by Ruther came in 1995 and the new notes, colloquially dubbed the "Big Head" series in honor of the revised portraits, debuted in 1996. With the successful release of the redesigned Series 1996 $20, $50 and $100 notes, attention then turned to the modification of the $5 and $10 denominations. Ruther was again the designer for these notes, the first of which carried the Series 1999 designation.

The culmination of Jack Ruther's thirty years career at the BEP came when he was called to design what became known as the "NexGen" or Next Generation Currency, which debuted with the Series 2004 notes. In addition to added new sophisticated anti-counterfeiting devices, the Series 2004 notes were the first in a century of U.S. currency production that featured a multi-color design on both the front and back. A group of four Fr. 2089-E $20 2004 Federal Reserve Notes containing the signatures of designer V. Jack Ruther, Thomas Hipschen, who engraved both the portrait as well as the back vignette, letter/script engraver John Smith, Jr., and modeler William Krawczewicz, is expected to bring $3,000+. Two of the star examples also bear the signature of the BEP's former director, Thomas Ferguson.

Fr. 2089-E $20 2004 Federal Reserve Note. PCGS Gem New 65PPQ
Ruther's holdings are literally one of a kind, as he assembled sets of each design as they were released, with the notes containing the autograph signatures of the portrait engravers, the letter/script engravers, the BEP modelers, BEP directors, and, in some cases, selected dignitaries associated with the notes such as Secretaries of the Treasury John Snow and Henry Paulson and Treasurer of the United States Anna Escobedo Cabral, as well as his own.

All of the notes have been certified and graded by PCGS, with each bearing the title "From the Banknote Designer Collection." Other than some Educational Notes signed by designer Thomas Morris and Treasurer of the United States D.N. Morgan we know of no other U.S. Currency courtesy autographed by its designer, let alone by the entire design team.

More information about currency auctions.

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Instant Quiz
Trivia

1. What is the date on quarter eagles with the CAL counterstamp on the reverse?
       A) 1848
       B) 1849
       C) 1850
       D) 1854
       E) 1861


2. After San Francisco Mint coinage was suspended in 1955, what was the date of the first US coin to have an S mintmark?
       A) 1965
       B) 1966
       C) 1967
       D) 1968
       E) 1981



Last week's question:

1. Which of the following coins does not have the mintmark on the obverse?
Correct Answer: C) 1851-O three cent piece (43%).

2. What is the lowest mintage quarter minted in the 20th century?
Correct Answer: B) 1913-S (25%).


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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
View Lots
January 8 - 12 FUN US Coin Signature Auction - Orlando #1201
January 8 - 12 FUN US Coin Signature Auction - Orlando #1201
View Lots
January 8 - 12 FUN US Coin Signature Auction - Orlando #1201
Platinum Night
Part of Auction #1201
January 9th at 5:00 PM CT
View Lots
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
View Lots
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
View Lots
Sunday Internet Coin Auction Sunday Internet Coin Auction #131401
Closes January 5
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Tuesday Internet Coin Auction Tuesday Internet Coin Auction #131401
Closes January 7
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Weekly World Coin Auction Weekly World and Ancient Coin Auction #231402
Closes January 9
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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
View Lots
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 #141401
Closes January 7
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Other Internet Auctions
Sunday Internet Sports Collectibles Auction Sunday Internet Sports Collectibles Auction #151401
Closes January 5
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Sunday Internet Comics Auction Sunday Internet Comics Auction #121401
Closes January 5
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Sunday Internet Movie Poster Auction Sunday Internet Movie Poster Auction #161401
Closes January 5
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Weekly Internet Luxury Accessory Auction Weekly Internet Luxury Accessory Auction #251401
Closes January 7
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Tuesday Internet Watch & Jewelry Auction Tuesday Internet Watch & Jewelry Auction #171401
Closes January 7
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Weekly Internet Rare Books and Autographs Auction Weekly Internet Rare Books and Autographs Auction #201402
Closes January 9
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Monthly Internet Wine Auction Monthly Internet Wine Auction #221402
Closes January 9
View Lots
   
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