Press Release - January 21, 2004

Heritage World Coin Auctions realizes over $1.8 million in New York Signature Sale

Dallas, Texas: On January 12th, Heritage World Coin Auctions held an official auction of the 2004 New York International Numismatic Convention. The two-session sale had an impressive sell-through rate of 96%, and prices realized exceeded $1.8 million. 970 different bidders competed for the 1,446 lots in the sale, and nearly 300 among those bidders succeeded in securing at least one lot.

HWCA Director Warren Tucker noted, “Without a doubt, the highlight of the sale was the Canada George V 1936 Dot Cent from the Chet Krause Collection. Encapsulated by PCGS as MS63 Red, it is the only Uncirculated example. Formerly in the collection of John Jay Pittman, the coin was stolen from him, then mysteriously returned to him later in an anonymous envelope. This important rarity sold to an astute floor bidder for $207,000. Including the Belzberg specimen from last year’s New York sale, Heritage has now auctioned two of three known 1936 Dot Cents.”

“The French minor coins from the Enterprise Collection also brought outstanding results,” Tucker continued. “Several pieces are unlisted in current catalogs, and others are extremely rare or among the finest known. Many of the coins were hammered down for multiples of their estimates. The standout from this collection was a Louis XV - Ecu aux 3 couronnes 1715A, which realized $34,500.”

Another highlight was a Republic of China Year 18 Pattern Dollar. Estimated between $17,500 and $22,500, the consignor was delighted when it was sold for $52,900. A 1656 Cromwell gold 50 shillings, one of the great rarities in the early English milled series, brought $46,000. A proof 1839 Victoria Young Head gold 5 Pounds, better known to British collectors as the famous “Una & the Lion” variety, achieved $28,750.

“The New York Signature Sale had an impressive list of featured consignments,” Tucker asserted. “The Chet Krause Collection of Canadian Coinage had numerous rarities pedigreed to John Jay Pittman. Krause is the founder of a numismatic publishing empire that includes The Standard Catalog of World Coins and Numismatic News. Other important collections were Part 3 of the diverse Dr. Irving Arenberg Collection, The Marshall Fumer Collection of Belgian Coins, Part 5 of the Morris Geiger Collection, The Craig M. Haller Collection of British Coins, and the Osage Collection.”

Prices realized for all lots in the 2004 HWCA New York Signature Sale are posted online at www.HeritageCoin.com. Membership at that site is free, and, among numerous benefits, includes access to Heritage’s Permanent Auction Archives-a complete listing of prices realized, descriptions, and images for all Heritage Signature Sales, Bullet Auctions, and Exclusively InternetTM Auctions from 1993-date, as well as all Heritage-CAA Signature Sales and CurrencyAuction.comTM online auctions.

Highlights from the 2004 HWCA New York 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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