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Press Release - May 28, 2014
Heritage World & Ancient Coin Auction Sales Already Exceed $39 MillionFirst five months of 2014 surpass TOTAL 2013 sales of $35.6+ million
DALLAS — Sales of World & Ancient coins hit a record $39.8+ million at Heritage Auctions during the first five months of 2014, exceeding all of last year's sales of $35.6+ million. Year to date sales are the highest the category has had in its history, thanks to powerhouse auctions in January as well as first-time customers participating in weekly auctions held on HA.com.
"These results show just how strong the World & Ancient Coin market has become," said Cristiano Bierrenbach, Vice President of Heritage. "They also show how dedicated Heritage is to growing this and developing this category for the long term."
Sales of coins sold at auction during the first five months of 2014 total $39,817,748 compared to $35,606,147 realized during the entirety of 2013, a difference of $3.5+ million. Annual sales in 2012 reached $33.2+ and annual sales in 2011 just shy of $38 million.
The category started the year off strong, as Heritage's World and Ancient Coins auction held during the annual New York International Numismatic Convention, Jan. 5-6, totaled approximately $15 million. Individual highlights from the sale include a stunning and pristine 1822 Pedro I gold 6400 Reis, AU55 NGC realized $499,375. The 1822 Pedro quickly surpassed its $200,000 pre-auction estimate, beating the previous world record for a Brazilian coin at auction two times over. A 1711 Felipe V gold Royal Cob 7 Escudos from Mexico, one of just 50 known to exist, sold for $293,750.
Selections from the Eric P. Newman Collection Part III Signature Auction, held Jan. 14-16, reached $6 million, led by a 14 ducat of Salzburg, which sold for $211,500. Heritage's auctions held April 10-12 and 15-16 at the Chicago International Coin Fair (CICF) and online surpassed $15 million and saw an 1896 Russian Nicholas II Presentation 25 Roubles hammer for a record $217,375. The CICF auction total includes $5 million of ancient coins, the largest ancient offering in Heritage's history.
Roughly 12 percent of winning bidders in Heritage's Weekly World & Ancient Coin Auctions are new clients and the surge of new bidders has pushed average sales to a new high of roughly $45,000 per week. The number of lots in the auctions, which close on HA.com every Thursday, have nearly doubled to roughly 300 lots per week.
"Our weekly internet auctions recently hit a new high of $80,000 in May and are routinely more than 95 percent sold by value and by lot," Bierrenbach said. "Bidders have come to expect important examples to complement their collections and they are finding them with us every single week."
Upcoming World & Ancient Coin auctions include a World & Ancient Coins Platinum Night Auction during the American Numismatic Association World's Fair of Money, Aug. 6-11 in Chicago, and a World & Ancient Coins Signature® Auction in Long Beach, Calif., Sept. 3-8.