Press Release - May 19, 2014

1776 Silver Dollar And 1792 Silver Center Cent, Owned By 103-Year-Old Numismatic Legend, Sell For $1.41 Million Each

Nearly 700 U.S. Colonials coins from the Eric P. Newman collection offered to a packed house in New York City by Heritage Auctions, realizing $11+ million

NEW YORK — A 1776 Continental Dollar — the finest of only four silver Continental currency dollars known to exist from the birth of the American Republic — and a 1792 Silver Center One Cent piece — one of the earliest and most famous of all 1792 Pattern Coins — both realized $1.41 million as the undisputed stars, May 16-17, 2014, at Heritage Auctions in the $11+ million Selections from the Eric P. Newman Collection IV Signature Auction. The Continental Dollar realized the highest price ever paid for a non-gold American colonial coin.

"It's been an incredible honor for everyone at Heritage Auctions to catalog, photograph, publicize and auction all of these incredible coins," said Jim Halperin, Co-Founder of Heritage Auctions. "These early American coins comprise an important section of Eric P. Newman's incredible collection. — both for their numismatic and historical significance."

The nearly 700 lots of the most important U.S. Colonials offered in recent memory, many of them pedigreed to "Col." E.H.R. Green, across the festive two-day auction, gave collectors of all levels a chance to own part of this long-held collection.

At almost 103 years of age — a milestone that was fêted at the live auction on Friday, May 16, in advance of the actual date of May 25 — Eric P. Newman is the foremost United States numismatic researcher and author. His massive and storied collection is one of the single finest numismatic assemblages ever seen. Along with the first three parts of his collection, auctioned earlier in 2014 and in 2013, his coins so far have realized more than $44 million.

"Historic coins like these, treasures from the birth of the United States, commanded appropriately important prices," said Jim Halperin, Co-Founder of Heritage Auctions. "The top collectors in the world knew that they weren't likely to see many of these coins ever again. The competition and overall prices, as it's been throughout Mr. Newman's amazing collection, exceeded even our in-house expectations."

A 1783 '100' Unique Plain Edge Nova Constellatio 100 Units, Silver, AU55 NGC, the first pattern coin issued by the newly independent United States and a forerunner of the decimal coinage's acceptance, first in America, then eventually by most monetary systems throughout the world, proved very popular with collectors at a final price realized of $705,000, while a 1652 New England Sixpence, AU58 NGC, the finest known specimen, was also highly sought-after before finishing the auction at $646,250.

Copper highlights included the 1787 George Clinton Copper, MS63 Brown NGC, the finest-certified example of this rare classic offered at auction for the first time in more than a century, which realized $499,375, a price equaled by a simply stunning 1792 Reeded-edge Copper Disme AU55 NGC.

Items being sold from the extensive Collection of Eric P. Newman, assembled across a period of 90 years, are all being sold for the sole benefit of Eric P. Newman Numismatic Education Society (a Missouri not-for-profit corporation). The proceeds 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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