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Press Release - January 17, 2003

Fabulous "Ashland City" Gold Collection Realizes $3,392,385 at FUN 2003 Auction

Dallas, TX. The Ashland City Collection of Branch Mint Gold Coins and Other Rarities - more than 300 gold coins strong - sold in Orlando on January 11 for $3,392,385. The collection was offered by Heritage Numismatic Auctions in a dedicated full-color catalog, as part of the official auctions of the Florida United Numismatists 2003 convention.

New Orleans dealer Dennis Daray was the agent who assembled the "Ashland City" Collection on behalf of an astute investor/collector. The collector approached Daray’s Southern Coins & Precious Metals about five years ago, requesting their expert assistance in forming one of the great collections of American gold coins. Mr. Daray dedicated himself to the search for the finest coins, emphasizing rarity and condition. Coins were purchased through private treaties and auctions; whenever a finer specimen could be obtained in the marketplace, the collector was prepared to pursue it. Located in the New Orleans suburb of Metairie since 1977, Mr. Daray has helped many other collectors assemble important collections, but "thanks to the discerning eye and enthusiasm of this client, assembling this incredible collection has been one of the highlights of my numismatic career." Mr. Daray "decided on Heritage as the best choice to auction the collection, based on their well-established reputation for preparing the finest auction catalogs in America, and their renowned attention to detail." Mr. Daray and Steve Ivy, who coordinated the consignment, are both members of the Professional Numismatists Guild.

"With such a collection," noted Heritage President Greg Rohan, "its superlative depth and breadth makes picking highlights difficult. Specialists in one series or another will certainly have their favorites, but there was no questioning the strength of the Half Eagle holdings. Prices across the board were strong, and the collector, Mr. Daray, and Heritage were equally thrilled with the results of the sale."

The "Ashland City" Collection was sold as part of Heritage’s official auctions at the 2003 Florida United Numismatists Convention in Orlando (Jan. 8-11), as one of eight separate catalogs (presented by Heritage Numismatic Auctions, Heritage World Coin Auctions, and Currency Auctions of America-Heritage) encompassing 15,912 lots. Total proceeds from FUN and the NYINC auctions were $24,503,282

"Our FUN auctions," concluded Heritage Co-Chairman Steve Ivy, "are growing every year, along with the FUN Convention; FUN is now the best-attended coin gathering of the year, and Heritage is the world’s largest numismatic auctioneer. This is an amazing partnership that has benefited an entire generation of consignors and collectors. Thanks to the 70,000+ registered bidder/members on our website, HeritageCoin.com, we also have more bidders than ever before, so bidding competition is quite intense. Heritage’s exclusive Interactive Internet™ bidding system has channeled all of their demand into incredible prices realized results."

For more information about consigning to future sales, please contact Consignment Director Leo Frese at 1-800-872-6467 ext 294.

Full-color images of the "Ashland City" highlights are available in the Permanent Auction Archives at www.HeritageCoin.com.

Highlights from the Ashland City Collection

Lot 4607 1849-C Open Wreath Gold $1 Fine 15 NGC. Ex: Elrod, realized $97,750
Lot 4716 1854-D Three Dollar AU53 PCGS, realized $20,915
Lot 4727 1838-D Classic Half Eagle MS63 NGC, realized $36,800
Lot 4735 1841-D Small D Liberty Half Eagle MS65 NGC, realized $59,800
Lot 4736 1842-C Small Date Liberty Half Eagle AU55 PCGS, realized $35,650
Lot 4766 1848-C Liberty Half Eagle MS64 NGC realized $40,250
Lot 4776 1851-C Half Eagle MS64 NGC realized $69,000
Lot 4785 1854-D Half Eagle MS65 NGC realized $62,100
Lot 4846 1870-CC Liberty Eagle XF40 NGC, realized $20,700
Lot 4873 1854-O Liberty Double Eagle AU50 PCGS, realized $94,300
Lot 4892 1879-O Liberty Double Eagle MS60 NGC, realized $31,050

The Heritage name is recognized worldwide for bringing unparalleled value to every consignor and bidder. Year 2002 sales exceeded $150 million and assets were approximately $40 million. HeritageCoin.com is the Internet's most popular and highly trafficked rare coin site, with over 70,000 registered members. HeritageCoin.com is the only coin site chosen twice by Forbes.com’s Best of the Web (1999 and 2001) as one of the 250 best websites on the Internet, and also won the most recent Numismatic Literary Guild award for Best Numismatic Internet Site. For more information on how to consign your coins to our next Sale contact one of our consignment coordinators at 1-800-US COINS (800.872.6467). We also invite you to visit us on the web at http://www.HeritageCoin.com

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