Press Release - February 2, 2004

Heritage January Long Beach Auction Surpasses $9 Million

Dallas, Texas: Heritage Numismatic Auctions presented 3558 lots in its January 29-31 Signature Sale; the 40th major auction Heritage has held as official auctioneer of the Long Beach Coin Expo. The sale was 91% sold by number of lots, and 90% sold by dollar volume, testament to the strength of the coin market and the power of the Internet. Thousands of bidders competed, most of them online, and 703 have won lots thus far. Prices realized already exceed $8.5 million, and sales will climb well past $9 million as bidders compete for Post-Auction Bargains and in Heritage’s Bullet auction session. The February Long Beach Bullet Sale was also available for bidder inspection during the Signature Sale. The Bullet Sale will take place tonight, February 2nd at Heritage’s award-winning website, www.HeritageCoin.com.

As part of the 2004 FUN Signature Sale, the spectacular North Shore Collection provided a nearly complete set of twenty dollar gold pieces. Only a few weeks later, in the Long Beach Signature Sale, Heritage auctioned a set of equal importance, The Magnificent Collection of Double Eagles.

“Four very rare Liberty Twenties reached six figures,” asserted Heritage President Greg Rohan. “An 1854-O was certified as AU50 by PCGS, and brought $161,000. An 1856-O, graded AU50 by NGC, realized $143,750. An 1870-CC, VF25 NGC, achieved an exceptional $100,050. A proof-only 1884, PR63 PCGS, sold for $103,500. The consignor told us his collection brought about 20% more than he had expected.”

“Roosevelt’s 1933 gold recall created formidable rarities within the Saint-Gaudens series,” Rohan continued. “Aside from the 1927-D and 1933, the Magnificent Collection held Uncirculated examples of these ultra-rare issues, and bidders seized the opportunity. A 1921, MS62 NGC, sold for $81,075. A 1930-S, encapsulated by PCGS as MS63, reached $65,550. A Gem 1931-D, MS65 NGC, was hammered down for $59,800, and a 1932 certified as MS65 by PCGS brought $75,900.”

Highlights of the Magnificent Collection of Double Eagles:

Part II of the fabulous North Shore Collection featured gold coins from the Dahlonega Mint. The Half Eagles were complete by date, and other denominations struck by the southern branch mint were represented with key dates.

“The 1854-D Large D Half Eagle, certified as MS65 by NGC, ranks among the finest known Dahlonega Fives and sold for $52,900” stated Heritage Co-Chairman Steve Ivy. “An 1854-D Three Dollar Princess, AU58 NGC, brought $39,100. An 1861-D Half Eagle, possibly struck by the Confederacy, was graded MS61 by PCGS and achieved $43,700.”

Highlights of the North Shore Collection of Dahlonega Gold:

Other featured consignments for the January Long Beach Signature Sale included The Charles Buck Collection, the Dylan Elijah Collection of Morgan Dollars, The New Millennium Collection, Part 3, The Phillip Wertheimer Collection, and The Dr. Robert Wharton Collection.

One consignor who had previously shopped the coins to a number of dealers, having been offered up to $50,000 prior to consigning them, watched in amazement as the coins hammered down for over $171,000 plus the 15% Buyer’s Premium!

Key dates in all series continued their recent stellar performance. An 1867 Shield Nickel with Rays, PR66 Cameo NGC, brought an astounding $132,250. A PCGS-graded 1927-S Quarter, MS64 Full Head, realized $58,650. A 1794 Dollar with an ANACS net grade of Good 6 nonetheless achieved $37,950. An 1893-O Morgan Dollar, MS64 PCGS, sold for $34,500.

Additional highlights of the January Long Beach Signature Sale:

Images, descriptions, and prices realized are available in the Permanent Auction Archives at the Heritage website, www.HeritageCoin.com.

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