June 10, 2005
This Week In Coin & Currency News
Long Beach Auctions Realize Over $13 Million
Seldom Seen Selections: 1936 Buffalo Nickel, 3-1/2 Legs
Website tips: Permanent Auction Archives
Numismatic Glossary
Summer Interns Wanted!
Coin Club Outreach Program
Instant Quiz: Test your numismatic knowledge
Is It Time To Sell? 2005 San Francisco, CA (ANA) Signature Auction
Current Auctions: 2005 New York, NY Signature Auction, Exclusively Internet Auction, Continuous Internet Auction, Internet Currency Auction, Amazing Sports Auction, Internet Movie Poster Auction, Amazing Comics Auction
Weekly Specials: Don't miss out on a great deal

Collector News
Long Beach Auctions Realize Over $13 Million

Heritage Numismatic Auctions, Inc. (HNAI) and Heritage World Coin Auctions (HWCA) held their latest Signature Auctions on June 2-3, in Long Beach, CA. The HNAI Signature Auction realized over $10 million, while the simultaneous HWCA auction realized an additional $2 million, with nearly 98% of lots selling. In addition, the Bullet Auction, with viewing in Long Beach and bidding over the Internet at www.HeritageCoins.com, realized $1 million.

Two coins in the HNAI auction's second session were particular standouts. The 1794 $1 MS61 NGC pedigreed to the Bass collection realized $747,500, while the 1838-O 50C Capped Bust, Reeded Edge. PR64 BM PCGS, among the most famous of all American coinage rarities, brought $632,500, both well over their initial estimates.

One of the factors involved in the robust prices realized we're seeing in this and other auctions is the strong presence of Internet bidders. In fact, in this current auction, over half of the auction sold to on-line bidders.

Our clients are having an exceptional year selling with Heritage. Many have told us, after buying and selling for years, that 2004-2005 has been their best ever, and we see that continuing.

The HNAI Signature Auction included the Dr. Theodore Almquist Collection, The Clifford Columbus Collection, The Empire State Collection, The Larry Rausch Collection of Errors, Part Five, and The Western Hills Collection.

Highlights of the HNAI auction included:
The star of the HWCA Signature Auction was undoubtedly the British Charles I Gold Triple Unite 1643. The $431,250 realized is a new record for its type, and the second highest price ever realized for a British coin.

"I'm thrilled by the results of this auction," said Warren Tucker, Director of HWCA. "We had some rare and exciting coins in this auction, and bidders responded enthusiastically. I'm particularly pleased by the high level of participation we saw during this event, and the spectacular percentage of lots sold. Collectors today are grabbing every great world coin they can find, leaving very few pieces on the table when an auction comes to a close."

The Long Beach World Coin Signature Auction included the Tortuga Collection of Latin American Coinage, as well as an extensive collection of 250+ Germanic coins, including 15 multiple talers.

Highlights of the HWCA Signature Auction included:

Images, descriptions, and prices realized from all of Heritage's previous sales are available in the Permanent Auction Archives at the Heritage website.

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Seldom Seen Selections: 1936 Buffalo Nickel, 3-1/2 Legs

As a part of our upcoming San Francisco ANA Signature Auction on July 27-30, Heritage is pleased to present the finest known specimen of the 1936-D 3-1/2 Legs Buffalo Nickel. This coin, graded MS62 by PCGS, is the only mint state specimen to be certified by either major grading service, and is only the third coin of this rare variety in any grade that we've had the privilege to offer.

On the 1936-D 3-1/2 Legs nickel, the bison's right front leg has been partially removed, showing much less detail than normal. This is the same leg that is missing on the popular 1937-D 3 Legged nickel, and in both cases, the missing leg can be attributed to the die having been overpolished, likely to remove clash marks, thus removing the elements with the lowest relief.


3-1/2 Leg
Although not as famous as its 1937-D Three-Legged counterpart, the 1936-D 3-1/2 Legs variety is far more rare, with fewer than 50 examples having been graded by the two major grading services in any grade. Fivaz and Stanton, in the fourth edition of The Cherrypicker's Guide to Rare Die Varieties call this coin "an extremely rare variety, with less than 40 known in any grade."

One of the keys to the popularity of any coin variety is its recognition by the general public, and perhaps nothing helps this more than a listing in A Guide Book of United States Coins, popularly known as the Red Book. The 1936-D 3-1/2 Legs nickel has been listed in the Red Book for a number of years, yet high grade specimens are so scarce that they do not receive a value listing.

This coin is a bit softly struck on the high points, but has a pleasing gray-gold color, accented by traces of rose toning about the peripheries. Surface markings are typical for the assigned grade. As the sole Mint State example known of this rare variety, this piece is undoubtedly destined for a home in an outstanding Buffalo Nickel variety set.

This auction will open for bidding in early July at www.HeritageCoins.com.

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Website tips: Permanent Auction Archives

Heritage's Permanent Auction Archives are perhaps the best free resource anywhere on the web to be able to find the going auction price of coins, to find historical prices, and even just to see pictures of specific rare coins. All auctions conducted by Heritage since 1993 are included in the archive, and images are available for single coin lots auctioned 2000 and later.

Here are links from several places on the Heritage website that will allow you to access the archives. The easiest place to find such a link is below the "Auctions" tab at the top of every page on the site. Click on "Permanent Auction Archives".

You will see a screen much like the following:

There are three boxes on the left side of the screen for you to choose your search. The first is a drop down box that allows you to choose the type of coin you wish to look for, such as Indian Head Cents or Proof Liberty Double Eagles. The second, also a drop down box, allows you to choose whether you wish to look in a specific auction, or in all auctions. The third allows you to type in a specific search criterion, such as the date of the coin. There are also checkboxes which will allow you to choose whether you wish to search by title only or by title and description and whether you wish to see lots that did not sell.

Let's say that we wish to look for a 1929 Saint-Gaudens Double Eagle in the January 2003 FUN Signature Sale. In the first drop-down, we choose the type of coin, Saint-Gaudens Double Eagles. In the second, choose 2003 Orlando, FL. (FUN) Signature Sale, #308. And in the text box, type the date of the coin, 1929.

From this screen, we can see that Heritage sold three such coins in this sale, at the noted prices. You can click on the links to see the description of the coin, and you can click on the camera icon to see a picture of the piece.

If you know the lot number of the item you're looking for, enter it into the "Jump to Lot" box on the right side of the page. If you want to see a complete list of prices realized from this particular sale, click on the "Printable Version" link at the top right of the page.

Finally, as we mentioned a couple of weeks ago, you can jump directly from the Permanent Auction Archives and back by clicking on the panes above the search results. Doing so will take you from the Archives to items currently offered to items in future auctions in whatever order you wish, but will still keep the search criteria you originally used.

Happy hunting!

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Numismatic Glossary:

Saddle Strike: A form of striking error where a blank planchet is struck simultaneously by two different sets of dies, causing two struck images to appear on opposite sides of the planchet. Although this error appears at first to be a double strike, it is not. The error occurs when the planchet is centered above more than one anvil die in a coin press that strikes multiple coins simultaneously. The name comes from the shape of the unstruck portion of the planchet, which resembles a horse saddle.

Taler: A large silver coin, about the size of a silver dollar, which circulated in Europe between roughly the 15th and 19th centuries. Unlike "crown," which describes such coins by their size, "Taler" is a denomination, derived from the original "Joachimsthaler" for reasons that should be obvious if you try to pronounce the longer word. Similar denominations are Thaler, Daler, Daalder; and the English word Dollar. A multiple taler is a coin denominated as more than one taler and containing a proportional amount of silver. Multiple talers were sometimes made with larger dies, but sometimes made with exactly the same dies used to produce the taler. The denomination of the coin would thus either be determined by weight or be denoted by a counterstamp.

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Summer Interns Wanted!

Heritage Rare Coin Galleries and Heritage Numismatic Auctions, Inc. are now accepting applications for interns for next summer. Here's your chance to work for the world's largest Rare Coin Dealer. If you are at least 18 years old, attending school and have a good background in numismatics, then join us in Dallas for the summer! Contact Paul@HeritageCoin.com with an informal resume of your experience and any accomplishments in numismatics.

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Coin Club Outreach Program

In a move to help strengthen the coin hobby and increase membership in America's coin clubs, Heritage has created the Coin Club Outreach program.

The Coin Club Outreach program features a speaker's bureau to deliver presentations at coin club meetings, promotional items to be offered to clubs to help generate revenue and enlist new members, and access to the Heritage website and mailing list of over 100,000 active coin and currency enthusiasts. Anyone interested in scheduling a speaker for a coin club or other collector group is invited to contact:

David Lisot, Director
Heritage Coin Club Outreach
1-800-872-6467 ext. 303

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Heritage Interactive
Instant Quiz

NEW: Instant quizzes and polls twice a week at www.heritagecoins.com!

Answer these quick questions and see how you stack up against your peers.

1. Who is depicted on the obverse of the Stone Mountain Half Dollar?
Abraham Lincoln and Jefferson Davis
Robert E. Lee and George McClellan
Robert E. Lee and Jefferson Davis
Robert E. Lee and Stonewall Jackson
Robert E. Lee and U. S. Grant

2. In what language is the obverse inscription on circulating British coinage?
There is no inscription

Last week's questions:

1. What is the difference between the Type 1 and Type 2 Bicentennial Eisenhower Dollar?
Correct Answer: Type 2 reverses have letters with serifs; type 1 reverses have letters without serifs (60%). This change was made to improve striking quality.

2. Which of the following gold dollars is Type 2?
Correct Answer: 1856-S (37%). The San Francisco Mint only produced Type 2 dollars in 1856. Neither Charlotte nor New Orleans produced any gold dollars in 1856, while Philadelphia and Dahlonega made Type 3 coins.

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Is It Time To Sell?

A Second California Gold Rush

The American Numismatic Association, the world's largest numismatic organization, is bringing its annual convention to San Francisco this July! Heritage has once again been selected as the official auctioneer, making this Heritage's 33rd selection as the Official Auctioneer of the ANA.

We expect to see hundreds of records established at the 2005 ANA. In this sizzling market, with the ANA audience competing against our 140,000+ registered Internet bidder-members, only Heritage reaches every part of this hot market. Take advantage of our marketing strengths and Internet leadership by consigning today, and maximize your audience and your proceeds!

Millions of dollars of consignments are already on hand, so you know that the attention of the numismatic world will be focused on Heritage's San Francisco ANA Signature Auction. When the time comes to sell your coins and currency, you want to choose the one firm that attracts the most bidders and the highest prices - Heritage. Why would you want to sell your coins and currency anywhere else?

The June 16th deadline is quickly approaching, so act quickly. Call our consignor hotline at 1-800-872-6467, extension 222, today!

2005 San Francisco, CA (ANA) Signature Auction
Sale on July 27 to July 30, 2005
Consignment Deadline: June 16, 2005

Leo Frese
Director of Consignments
1-800-US-COINS ext. 222 (24 hour voice mail)

Interested in Selling?
What's My Coin Worth?
Get the Most Money for Your Collection
Consign to a Heritage Auction

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Current Auctions


Rare Coins
Closes Tue. June 14
at 10:00 PM
View Lots
Rare Coins
Closes Sun. June 12
from noon to 10:00 PM
View Lots
Rare Currency
Closes Wed. June 15
at 10:00 PM
View Lots

Rare Coins
Location: New York, NY
Auction: 2005 New York, NY Signature Auction #380
Auction Dates: June 29-30, 2005
Note: Internet Absentee Bidding Ends at 10 PM CT the night before the floor session of any particular lot.
Browse Lots by Category

Sports cards, autographs, collectibles, and more...
Closes Sunday, June 26, 2005 at 10:00 PM
View current auctions.

Movie posters, lobby cards and more...
Closes Sunday, June 12, 2005 at 10:00 PM
View current auctions.

Comics, comic art and more...
Closes Sunday, June 19, 2005 at 10:00 PM
View current auctions.

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