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Press Release - March 4, 2003
Heritage Realizes More Than $7 Million With Strong Prices Realized and High Sell Through Rates in Long BeachDallas, Texas: Heritage, the official auctioneer of the February-March Long Beach Coin Expo, realized $6.7 million with its Signature SaleTM and a further $446,648 with its Bullet AuctionTM for total prices realized in excess of $7.1 million. Conducted in five sessions from February 27 through March 1, the 4,305-lot Signature Sale resulted in a sell through rate of 83.65%. The Bullet Auction, with live viewing in Long Beach and Internet-only bidding, did even better, selling 90.34% of the 1,974 lots offered.
According to Heritage President Greg Rohan, "We are thrilled with the performance of our auctions at this year’s February-March Long Beach Coin Expo. 2,251 Signature Sale bidders and 1,009 Bullet Auction participants competed for fresh coins from numerous important consignors such as Lance Burney, Jay Eisenberg, Philip Kaufman, Colonel Carmine Penta, Hans Poetsch, Dennis Ridings, and Ira Rosen. The BTB Collection of Buffalo Nickels and the New York "Eye Appeal" Collection also tempted bidders with stellar representatives of U.S. coinage."
"Among the most impressive prices realized was the $18,795 paid for a 1924-S Mercury Dime from the Jay Eisenberg Collection," noted Rohan. "Certified MS65 Full Bands by PCGS, the coin traded hands for $18,975, or 185% of the current (2/24/2003) CDN (Coin Dealer Newsletter, commonly referred to as the "Greysheet") bid of $10,250. Similarly, a PR64 PCGS representative of the low mintage 1905 Liberty Double Eagle brought more than the CDN bid. In this case, the realized price of $30,188 represents 128% of the $23,500 CDN bid. The coin was a highlight of the Lance Burney Collection."
Continued Rohan: "The number of well known numismatic rarities that were represented in our Long Beach sales continues to amaze me. A classic example is the 1796 No Stars Quarter Eagle. The representative of this one-year type that sold for $65,550 in the Signature Sale was graded AU53 by PCGS, and it was consigned as part of the Dennis Ridings Collection. Also of note is a
Prices realized for all lots in the Long Beach Signature Sale and Bullet Auction are posted online at www.HeritageCoin.com
Additional Highlights from Long Beach
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 74,000 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