Press Release - January 14, 2003

Heritage Numismatic Auctions Smashes Auction Sales Records With FUN & NYINC Auction Sales Approaching $25 Million

1911 Canadian Dollar Realizes $690,000

Dallas, Texas: Heritage Numismatic Auctions, Inc. and its affiliated auctions (Currency Auctions of America - Heritage and Heritage World Coin Auctions) sold more than $24 million in rare coins and currencies so far during six days of sales as official auctioneer at the Florida United Numismatists Convention in Orlando and the New York International Numismatic Convention in New York City. Altogether, 15,912 lots crossing the auction block realized $24,503,282 - nearly $25 million - and still counting. After-auction fixed-price offerings of unsold lots continue on Heritage's web site for up to 72 hours following each auction, so $25 million or more is still possible.

"Orlando was an enormously exciting event," noted HNAI Director Bob Korver. "At times, we had three auctions taking place simultaneously in different rooms, while thousands of additional bidders were participating via the Internet. It is a tribute to our dedicated staff and to our technological capabilities that so many events could be held so successfully in such a short span of time. After selling more than $21 million in rare coins and currency in Orlando, the staff immediately moved to NYC to auction the Sid and Alicia Belzberg Collection of Canadian Coinage as an official auction of the New York International Numismatic Convention. All sales concluded without a hitch. In addition to the nearly 16,000 lots offered in Orlando and New York City, during January Heritage is also offering more than 6,000 lots online at www.HeritageCoin.com in our Exclusively Internet and CurrencyAuction.com sales, plus approximately one thousand lots of comics at www.HeritageComics.com."

The lots auctioned by Heritage in Orlando were contained in eight different catalogs, each dedicated to specific types of numismatic material or specialized collections. U.S. coin rarities in the main FUN Signature Sale yielded total prices realized of $16,010,762, which included the specialized catalogs for the Joseph P. Gorrell Collection of Flying Eagle and Indian Cents (realizing $1,059,746) and the Ashland City Collection of Branch Mint Gold Coins and Other Rarities (realizing $3,392,385). Heritage World Coin Auctions offered two Signature catalogs of Ancients and World Rarities, adding additional prices realized of $976,481. Currency Auctions of America-Heritage's FUN Signature Sale realized $3,875,478, which included the Norman Pullen Collection of Maine Obsolete Currency in a dedicated catalog. The Internet Bullet with viewing in Orlando closed Monday evening with $579,495 sold.

The Belzberg Collection of Canadian Coinage, the world's finest and most complete, realized $3,061,065 in New York City on January 13, at the New York International Numismatic Convention. Highlight coins include the legendary 1911 $1 (the "Emperor of Canadian Coins") that realized $690,000, the 1936 "Dot" Cent which realized $230,000, and the 1921 Half Dollar (the "King of Canadian Coins") which realized $78,200. Other highlights included the 1870 DC-4 Half Dollar in SP64 at $103,500 and a 1948 Dollar in MS66 for a record $21,850.

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"Considering the breadth of our auction activity in January 2003," noted Heritage President Gregory J. Rohan, "it comes as no surprise that we shattered all previous auction records for the number of lots and value. On-site sales in two different cities, tens of thousands of bids, and more than 10,000 bidders participating. What an incredible month! Previous record holders for large events include Henry Chapman's sale of the 7,300-lot John Story Jenks Collection, auctioned over a ten-day period in December of 1921. In addition, Kagin's 1977 ANA Sale auctioned nearly 5,500 lots in five days. The estimates for the combined CAA-Heritage FUN and New York International auctions approach $25 million, roughly the total proceeds of the legendary Garrett collection, which sold in four separate auctions spanning a period of 16 months!"

"The depth of the Heritage catalogs," continued Heritage Co-Chairman Steve Ivy, "was equally impressive. We offered eight business strike and proof 1856 Flying Eagle Cents, 17 business strike and proof 1877 Indian Cents, ten 1932-D Washington Quarters, seven 1932-S Washington Quarters, two proof 1859 Seated Halves, six 1870-CC Seated Halves, two 1838 Gobrecht Dollars, and two 1873-CC Seated Dollars. The Gorrell and Ashland City catalogs established record after record. The Belzberg Collection established a new standard for completeness, rarity, and condition. More bidders participated in our Currency Auctions of America - Heritage sale than any previous event. We can't wait to return to Dallas to try to establish just how many records we set!"

Highlights from the Gorrell Collection
Lot 4401 1856 Flying Eagle Cent MS66 PCGS, realized $103,500
Lot 4415 1861 Indian Cent MS68 PCGS, realized $54,625
Lot 4436 1877 Indian Cent MS66 Red PCGS, realized $77,625
Lot 4459 1899 Indian Cent MS68 Red PCGS, realized $69,000
Lot 4480 1864 L on Ribbon Indian Cent PR64 Red and Brown PCGS, realized $52,900

Highlights of the Heritage 2003 FUN Signature Sale include:
Lot 5815 1963 Lincoln Cent Pr70 Deep Cameo PCGS realized $39,100
Lot 5831 1979-S Lincoln Cent T1 Pr70 Deep Cameo realized $8,625
Lot 6621 1796 Draped Bust, Small Eagle Quarter MS63 PCGS, realized $50,600 (63% over ?Sheet)
Lot 6745 1884 Seated Quarter PR69 Cameo NGC (from the Philip Kaufman Collection) realized $23,000
Lot 6884 1920-D Quarter MS68 PCGS (from the Chicagoland Collection) realized $132,250
Lot 6886 1920-S Quarter MS66 FH PCGS (from the Chicagoland Collection) realized $60,375
Lot 7170 1870-CC Seated Half AU53 PCGS, realized $24,150
Lot 7343 1921-S Walking Liberty Half MS65 PCGS, realized $65,550 (48% over sheet)
Lot 7521 1838 Gobrecht Dollar, Judd-84 Restrike, Pollock-93, PR64 PCGS (from the Trane Collection) realized $50,600
Lot 7549 1863 $1 PR68 NGC (from the Philip Kaufman Collection), realized $71,875
Lot 8292 1895 Morgan Dollar PR66 PCGS (from the Memphis Collection) realized $36,800
Lot 8375 1921 Peace Dollar Matte PR65 NGC (Ex: Jack Lee) realized $31,050
Lot 8429 1829 Capped Head Left Quarter Eagle MS64 PCGS (from the St. Louis Collection) realized $37,950
Lot 9326 1920-S Saint-Gaudens $20 MS64 NGC (from the George Coyman Collection) realized $43,700
Lot 9327 1921 Saint-Gaudens $20 MS62 PCGS realized $62,100
Lot 9400 1930-S Saint-Gaudens $20 MS63 NGC (from the Aaron Bliss Collection) realized $41,400
Lot 9404 1932 Saint-Gaudens $20 MS66 NGC realized $58,650
Lot 9470 1915-S Panama-Pacific $50 Round MS65 PCGS, realized $78,200
Lot 8914 Unique Plain Edge 1907 Indian Eagle, Judd-1774A, Satin PR62 NGC, realized $195,500
Lot 9946 1913 Indian Five Cents Judd-1789, Pr62 PCGS, realized $66,700

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 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

Highlights from Currency Auctions of America - Heritage auction
Lot 16483 Vermont, February 1781 40s, Choice Very Fine, realized $19,838
Lot 17091 C.S.A. T3 $100 1861, VF, realized $13,973
Lot 18665 Fr. 823 $20 1918 Federal Reserve Bank Note, Serial #1, Gem, realized $33,350
Lot 18764 Fr. 1132 $500 1918 Federal Reserve Note, Ch. New, realized $17,250
Lot 18765 Fr. 1132 $500 1918 Federal Reserve Note, AU 58, realized $16,675
Lot 18768 Fr. 1133 $1,000 1918 Federal Reserve Note, Gem, realized $29,900
Lot 18930 The First NGB of San Francisco, CA- $20 1875 National Gold, F-VF, realized $23,000
Lot 19987 Third NB of Philadelphia, PA - $1-$1-$1-$2 Original Fr. 380/387 realized $21,850
Lot 20047 The NB of Chester, SC - $5 Original Fr. 399, VF-EF, realized $89,125
Lot 20090 The First NB of Collinsville, TX - $10 1902 Red Seal Fr. 613, VG+, realized $23,000
Lot 20373 The Exchange NB of Norfolk, VA - $1 Original Fr. 380, F-VF, realized $25,300

Highlights from the Heritage World Coin Auctions
Lot 12010 1621 Austrian 10 ducat, KM-1400, XF-AU, realized $12,650
Lot 12740 1706 English 5 Guineas, portrait of Anne after union with Scotland, AU, realized $9,200
Lot 13241 1839-MV South Peru 8 Reales, Arequipa Mint, KM-179.3, AU-Unc, realized $12,650
Lot 12134 1893 Canadian 25 Cents, KM-5, MS64 PCGS, realized $4,140
Lot 12719 1688 English Gold 5 Guineas, KM-460.1, realized $5,520
Lot 12703 1653 English Commonwealth Gold Unite, S-3208, realized $3,680
Lot 12835 1847 English Gothic Crown, PR66 PCGS, KM-744, realized $6,612.50

Images, descriptions, and prices realized are available in the Permanent Auction Archives at the Heritage website, www.HeritageCoin.com.
The Heritage name is recognized worldwide for bringing unparalleled value to every consignor and bidder. Year 2002 sales exceeded $170 million and assets were approximately $30 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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