Press Release - January 17, 2005

Heritage World Coin Auction an Overwhelming Success!

Dallas, Texas: Heritage World Coin Auctions (HWCA) began 2005 on a high note, with $2,694,934.90 realized in their latest auction of rare international coins and currency. 2,065 bidders participated, competing for 2,515 lots. 511 of them were successful, with 95.1% of lots sold. 19 lots were purchased after auction by 14 bidders for $5,377.40.

"The highlight of this exciting sale was, unquestionably, the incredibly strong performance of the Australian material," said Warren Tucker, Director of HWCA. "Just recently, the Australian government has begun to allow private citizens to place rare Australian coins in their investment/profit sharing plans (the equivalent of the American KEOGH), which has caused the Australian coin market to skyrocket. The result from our perspective was intense competition among collectors for this exceptionally fresh group of rarities, culminating in prices that far exceeded our pre-auction estimates."

"The 1921 British Trade Dollar was another highlight," added Scott Cordry, Cataloger and Senior Numismatist for HWCA. "This was a fabulous specimen, with only 5 examples known to exist. I'm pleased to report this coin now has a proud new home in the Far East."

"Another strong area for this sale was the world currency," continued Cordry. "This is a segment of this market that is often under-represented in many sales, but we had a strong selection this time. Particularly desirable were the notes from Zanzibar and German New Guinea, as well as the Iran-Persia Specimen Book of the Pahlavi Dynasty, which realized $17,250."

In conclusion, Cordry said, "You know the market is strong when the top dealers are complaining that they couldn't get anything in the sale because the prices were so high!"

Further highlights of the sale included:

Australis - George VI Seven-piece Proof Set 1938 consisting of: Halfpenny, KM35; Penny, KM36; Threepence, KM37; Sixpence, KM38; Shilling, KM39; Florin, KM40; and Crown, KM34. A Very Rare set with all of the coins lightly toned and original. A similar set in Noble's sale 74, sold as single lots, brought over $50,000 when using today's exchange rate.
From the Professor Wayne Newman Palmer Collection. REALIZED: $71,875.

Australia - George V Four-piece 1916 Specimen Set consisting of: 1916M Threepence, KM24, brilliant Specimen with splashes of russet toning; 1916M Sixpence, KM25, brilliant Specimen with a hint of russet toning; 1916M Shilling, KM26, brilliant Specimen with a hint of russet toning and a small scratch in the left reverse field; and a 1916M Florin, KM27, brilliant Specimen with a slight touch of russet toning. Listed as a set as KM-PS3. An Extremely Rare set that is seldom offered for sale and the first that we have seen.
From the Professor Wayne Newman Palmer Collection. REALIZED: $63,250.

Australia - George V Six Piece Proof Set 1934 consisting of: Halfpenny, Penny, Threepence, Sixpence, Shilling, and Florin, all are Choice Proofs with the Halfpenny and Penny Red and Brown and the silver coins with a touch of toning, KM-PS11. Extremely Rare with a mintage of 100 sets. Choice, original complete sets are seldom offered.
From the Professor Wayne Newman Palmer Collection. REALIZED: $54,625.

Great Britain - British silver Trade Dollar 1921-B. KM-T5. Bombay Mint. MS63 PCGS: Choice Uncirculated with rich silvery-gold toning, evenly distributed on both sides, making for a beautiful appearance. Struck in India during the reign of King George V, this is one of the great modern rarities of Great Britain. Collected along with Crowns, as well as by collectors of British colonial coins, this coin is in a superlative condition and should attract many eager bids from all over the world. Another group of bidders will be those who specialize in trade dollars of the world, this being one of the most difficult of them all to find, in any grade, as only 5 are recorded by Krause as being known. We have not seen the others, but it would be hard to beat the quality, and particularly the pleasing eye-appeal, of the specimen offered for sale here. Our estimate is based solely on the value given in the Krause reference. In the current market, this coin's actual value will be decided by bidders; it could soar and surprise us all. REALIZED: $48,300.

Australia - George V Proof Halfpenny and Penny 1928, KM22 and 23, both are original and uncleaned with reddish-brown patina, the Penny has a few minor spots, but overall this is a superior set. Very Rare.
From the Professor Wayne Newman Palmer Collection. REALIZED: $36,800.

Australia - George V Calcutta Two-piece Bronze Proof Set 1916I, Halfpenny, KM22 and Penny, KM23, Both are Choice, iridescent reddish-brown Proofs and Extremely Rare.
From the Professor Wayne Newman Palmer Collection. REALIZED: $34,500.

Australia - George V Penny 1930, KM23, Fine. The key to the penny series and one of the classic rarities of all Australian numismatics.
From the Professor Wayne Newman Palmer Collection. REALIZED: $34,500.

Great Britain - Charles I (1625-49) gold Triple Unite 1644 Oxford. S-2729. Plume mintmark (#103 in Spink). EF45 PCGS. Nice two-tone gold color, decent surfaces, sharp features. A fine example of this classic type, which was struck at the Oxford "castle mint" from 1642-1646, when the town was finally surrendered to Cromwell's army, literally at its gates. It is the largest English gold coin ever struck, and it must have been made primarily to enable the fortified town to purchase provisions for the king's army, although its political "statement" must have been obvious to all: that royalty meant wealth (the hefty weight of the coin alone said this), power (the king holds a long sword before his face), a concession to peace if it could be had (the king's other hand holds the olive branch), as well as the king's declaration of sovereignty, of his divine right to be royal, in the scrolled legend on the reverse (the Latin translates as "The religion of the Protestants, the laws of England, and the liberty of the Parliament"), which was the central message of Charles' famous "declaration" to the Privy Council at Wellington of 19 September 1642, which of course was also a challenge to Parliament in London to remain loyal, to do its duty to king and country. But of course Parliament had sided with the new "Protector," Oliver Cromwell, who led the land through a terrible civil war, at the end of which the king was beheaded as a traitor to the nation, as a tyrant, at a time when civic power was transferring to a sort of democracy whereby representatives of "the people" (which in 1642 did not mean the citizenry at large but rather the powerful landed gentry and their families) would make the laws of the land and the king who followed (Charles II, in 1660) would be increasingly a figurehead ruler. Thus this coin represents, as well as any coin could, the transition of power in a country which, to this day, remains overwhelmingly loyal to its sovereigns, and celebrates their history. REALIZED: $29,000.

Australia - George V Kookaburra One Penny Pattern 1921, McDonald type 13, Rennik type 12, 3.9 gm, KM-Pn21(?), Unc. with touches of streaky light russet toning. Very Rare.
From the Professor Wayne Newman Palmer Collection. REALIZED: $25,300.

Australia - New South Wales Fifteen Pence or Dump 1813 Mira dies A/1, Fine for the issue and Very Rare as such. An XF example sold for $47,000 in a 2003 auction. REALIZED: $20,700.

Images, descriptions, and prices realized from all Heritage Auctions are available in the Permanent Auction Archives at the Heritage website.

To purchase a catalog for any Heritage Sale, please contact Customer Service, 800-872-6467, 3500 Maple Avenue, 17th Floor, Dallas, TX., 75219 or visit HeritageGalleries.com to order by credit card.

"The highlight of this exciting sale was, unquestionably, the incredibly strong performance of the Australian material," said Warren Tucker, Director of HWCA. "Just recently, the Australian government has begun to allow private citizens to place rare Australian coins in their investment/profit sharing plans (the equivalent of the American KEOGH), which has caused the Australian coin market to skyrocket. The result from our perspective was intense competition among collectors for this exceptionally fresh group of rarities, culminating in prices that far exceeded our pre-auction estimates."

"The 1921 British Trade Dollar was another highlight," added Scott Cordry, Cataloger and Senior Numismatist for HWCA. "This was a fabulous specimen, with only 5 examples known to exist. I'm pleased to report this coin now has a proud new home in the Far East."

"Another strong area for this sale was the world currency," continued Cordry. "This is a segment of this market that is often under-represented in many sales, but we had a strong selection this time. Particularly desirable were the notes from Zanzibar and German New Guinea, as well as the Iran-Persia Specimen Book of the Pahlavi Dynasty, which realized $17,250."

In conclusion, Cordry said, "You know the market is strong when the top dealers are complaining that they couldn't get anything in the sale because the prices were so high!"

Further highlights of the sale included:

Australis - George VI Seven-piece Proof Set 1938 consisting of: Halfpenny, KM35; Penny, KM36; Threepence, KM37; Sixpence, KM38; Shilling, KM39; Florin, KM40; and Crown, KM34. A Very Rare set with all of the coins lightly toned and original. A similar set in Noble's sale 74, sold as single lots, brought over $50,000 when using today's exchange rate.
From the Professor Wayne Newman Palmer Collection. REALIZED: $71,875.

Australia - George V Four-piece 1916 Specimen Set consisting of: 1916M Threepence, KM24, brilliant Specimen with splashes of russet toning; 1916M Sixpence, KM25, brilliant Specimen with a hint of russet toning; 1916M Shilling, KM26, brilliant Specimen with a hint of russet toning and a small scratch in the left reverse field; and a 1916M Florin, KM27, brilliant Specimen with a slight touch of russet toning. Listed as a set as KM-PS3. An Extremely Rare set that is seldom offered for sale and the first that we have seen.
From the Professor Wayne Newman Palmer Collection. REALIZED: $63,250.

Australia - George V Six Piece Proof Set 1934 consisting of: Halfpenny, Penny, Threepence, Sixpence, Shilling, and Florin, all are Choice Proofs with the Halfpenny and Penny Red and Brown and the silver coins with a touch of toning, KM-PS11. Extremely Rare with a mintage of 100 sets. Choice, original complete sets are seldom offered.
From the Professor Wayne Newman Palmer Collection. REALIZED: $54,625.

Great Britain - British silver Trade Dollar 1921-B. KM-T5. Bombay Mint. MS63 PCGS: Choice Uncirculated with rich silvery-gold toning, evenly distributed on both sides, making for a beautiful appearance. Struck in India during the reign of King George V, this is one of the great modern rarities of Great Britain. Collected along with Crowns, as well as by collectors of British colonial coins, this coin is in a superlative condition and should attract many eager bids from all over the world. Another group of bidders will be those who specialize in trade dollars of the world, this being one of the most difficult of them all to find, in any grade, as only 5 are recorded by Krause as being known. We have not seen the others, but it would be hard to beat the quality, and particularly the pleasing eye-appeal, of the specimen offered for sale here. Our estimate is based solely on the value given in the Krause reference. In the current market, this coin's actual value will be decided by bidders; it could soar and surprise us all. REALIZED: $48,300.

Australia - George V Proof Halfpenny and Penny 1928, KM22 and 23, both are original and uncleaned with reddish-brown patina, the Penny has a few minor spots, but overall this is a superior set. Very Rare.
From the Professor Wayne Newman Palmer Collection. REALIZED: $36,800.

Australia - George V Calcutta Two-piece Bronze Proof Set 1916I, Halfpenny, KM22 and Penny, KM23, Both are Choice, iridescent reddish-brown Proofs and Extremely Rare.
From the Professor Wayne Newman Palmer Collection. REALIZED: $34,500.

Australia - George V Penny 1930, KM23, Fine. The key to the penny series and one of the classic rarities of all Australian numismatics.
From the Professor Wayne Newman Palmer Collection. REALIZED: $34,500.

Great Britain - Charles I (1625-49) gold Triple Unite 1644 Oxford. S-2729. Plume mintmark (#103 in Spink). EF45 PCGS. Nice two-tone gold color, decent surfaces, sharp features. A fine example of this classic type, which was struck at the Oxford "castle mint" from 1642-1646, when the town was finally surrendered to Cromwell's army, literally at its gates. It is the largest English gold coin ever struck, and it must have been made primarily to enable the fortified town to purchase provisions for the king's army, although its political "statement" must have been obvious to all: that royalty meant wealth (the hefty weight of the coin alone said this), power (the king holds a long sword before his face), a concession to peace if it could be had (the king's other hand holds the olive branch), as well as the king's declaration of sovereignty, of his divine right to be royal, in the scrolled legend on the reverse (the Latin translates as "The religion of the Protestants, the laws of England, and the liberty of the Parliament"), which was the central message of Charles' famous "declaration" to the Privy Council at Wellington of 19 September 1642, which of course was also a challenge to Parliament in London to remain loyal, to do its duty to king and country. But of course Parliament had sided with the new "Protector," Oliver Cromwell, who led the land through a terrible civil war, at the end of which the king was beheaded as a traitor to the nation, as a tyrant, at a time when civic power was transferring to a sort of democracy whereby representatives of "the people" (which in 1642 did not mean the citizenry at large but rather the powerful landed gentry and their families) would make the laws of the land and the king who followed (Charles II, in 1660) would be increasingly a figurehead ruler. Thus this coin represents, as well as any coin could, the transition of power in a country which, to this day, remains overwhelmingly loyal to its sovereigns, and celebrates their history. REALIZED: $29,000.

Australia - George V Kookaburra One Penny Pattern 1921, McDonald type 13, Rennik type 12, 3.9 gm, KM-Pn21(?), Unc. with touches of streaky light russet toning. Very Rare.
From the Professor Wayne Newman Palmer Collection. REALIZED: $25,300.

Australia - New South Wales Fifteen Pence or Dump 1813 Mira dies A/1, Fine for the issue and Very Rare as such. An XF example sold for $47,000 in a 2003 auction. REALIZED: $20,700.

Images, descriptions, and prices realized from all Heritage Auctions are available in the Permanent Auction Archives at the Heritage website.

To purchase a catalog for any Heritage Sale, please contact Customer Service, 800-872-6467, 3500 Maple Avenue, 17th Floor, Dallas, TX., 75219 or visit HeritageGalleries.com to order by credit card.

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