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February 3, 2006
This Week In Coin & Currency News
Heritage Presents Our 2006 11th Annual Auction Survey
Jules Reiver Collection Auction Is A Hit!
Seldom Seen Selections: Walter Shirlaw
Website tips: Printable Version of Prices Realized
Numismatic Glossary
Help Wanted: Numismatist
Heritage Offers Huge Discounts on NumisMedia Guides
Around Heritage Auctions
Coin Club Outreach Program
Instant Quiz: Test your numismatic knowledge
Is It Time To Sell? 2006 April Atlanta, GA (ANA) Signature Auction
Current Auctions: 2006 February Long Beach Signature Auction, 2006 February Long Beach Online Session, 2006 March Palm Beach, FL Online Session, Exclusively Internet Auction, Continuous Internet Auction, Internet Currency Auction, Fine Art Monthly Auction, Amazing Sports Auction, Internet Movie Poster Auction, Amazing Comics Auction
Weekly Specials: Don't miss out on a great deal

Heritage Presents Our 2006 11th Annual Auction Survey
You Can Win a Certified Brilliant Uncirculated $20 High Relief!

Welcome to Heritage's 11th Annual Auction Survey! You can win a Certified Brilliant Uncirculated $20 High Relief, free gold coins, and other valuable prizes:

  • Grand Prize: Certified Brilliant Uncirculated $20 High Relief!
  • Second Prize: Five winners can auction up to $100,000 of their coins for free (no seller's commission).
  • Third Prize: Ten winners can auction up to $50,000 of their coins for free (no seller's commission).
  • Mint State Saints: In addition to the Grand Prize, there are three more ways to win!
    • Provide your ANA member number. You will then be entered in a special drawing, with one Saint given away for every 1000 members responding.
    • Provide your e-mail address. A special bonus drawing will be held.
    • Or enter to win on our website:
  • All respondents receive a coupon to auction one coin valued above $1,000 free of seller's commission ? a $50+ value!
  • Plus, anyone who fills out the survey and requests it, will receive a free copy of "The Collector's Handbook" on estate planning ? the PNG Book of the Year and the NLG Award for Extraordinary Merit.

Heritage is America's #1 Numismatic AuctioneerTM. In 2006, Heritage is the official auctioneer for F.U.N., the ANA in Atlanta, all three Long Beach Expos, both Palm Beach shows, and Central States in Columbus, OH. On our world-famous website, you'll find Signature Auctions, OnLine Auctions, Exclusively Internet auctions, Continuous Internet Auctions, Heritage Currency Auctions of America Signature Auctions, Heritage World Coin Auctions, and Internet Currency auctions. Free members-only services such as MyWantList,TM MyCollection,TM and MyHeritageTM are available on our award-winning website, Come visit to view full-color photographs of coins and currency, starting bids, pop reports, our Permanent Auction Archive, and current pricing resources!

By answering all of these questions fully, you can help Heritage provide more record-breaking events in 2006 and beyond. And remember, one lucky respondent who fully answers this confidential survey will:


Your confidential, completed survey must be received at Heritage by March 3, 2006, to participate in the drawings. Only one entry per person is eligible to win. Thank you, and good luck!

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Collector News
Jules Reiver Collection Auction Is A Hit!

Our Signature Auction of the Jules Reiver Collection of US Coinage contiued through January 28, 2006 in our Dallas headquarters. This auction, held with no reserves, realized over $8.5 million in its nine sessions, with 2,815 total bidders participating, 654 of them successfully, for 4,642 total lots. The On-Line Session, which closed on January 30, brought in an additional $300,000.

Mr. Reiver's collecting efforts were far reaching, and the results speak for themselves. We had originally projected this collection to bring in $7 million, and the results exceeded even our high expectations. We can think of no finer tribute to this man and his lifetime contributions to numismatics.

Needless to say, Mr. Reiver's family is thrilled with the results of the auction. "I guess I never realized the scope of skills required to profuce a successful auction," said Betsy Reiver DeMarino, Jules Reiver's daughter. "It's a bit like producing a successful Broadway play! We do appreciate all your efforts, and I know I speak for all of us when I say that it's been a great experience, the memory of which we'll always cherish."

Auction highlights from the final four days of the auction include:

Images, descriptions, and prices realized from this auction, as well as all previous Heritage auctions, are available in the Permanent Auction Archives.

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Seldom Seen Selections: Walter Shirlaw

Heritage is pleased to present, in our upcoming 2006 February Dallas Books, Autographs and Manuscripts Auction #626, a group lot of letters by and about Walter Shirlaw.

Who was Walter Shirlaw, you might ask, and what does he have to do with numismatics? An artist, Shirlaw was born in Paisley, Scotland, August 6, 1838. As a painter, he is best known for his realist works such as pastorals and figure painting. His most notable paintings are, "Toning the Bell" and "Sheep-shearing in the Bavarian Highlands." He was one of the founding members of The Society of American Artists, and served as its first president.

However, most people today, and especially numismatists, may associate him with the work he did on currency. He worked as an engraver early in his career, and created what many people deem as one of the true masterpieces to appear on American Currency: "Electricity Presenting Light to the World" which is a gorgeous interpretation of Knowledge and Light, with strong Roman influences, coming to man. This vignette is featured on the classic Fr. 268 $5 1896 Silver Certificate, pictured above.

This lot consists of eight letters handwritten by Shirlaw, all measuring 5" x 8", on one sheet of folded paper. Also included is a letter written by Shirlaw's wife, and two envelopes one of which is signed by Shirlaw. All the items are in good condition, with no major flaws whatsoever. The covers show the most age and have several tears on them as well as widespread soiling on the edges. The letters exhibit the expected folds, and have some onset of acid degradation. Otherwise a fantastic lot of a somewhat obscure but very talented artist.

This auction is open for bidding right now at The floor auction will take place on February 20 and 21 in Dallas, with a simulcast in New York City. Internet bidding will close at 10PM CT the night before the lot goes to floor auction.

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Website Tips: Printable Version of Prices Realized

Our customers will often ask us for a complete listing of the prices realized in our auctions, with the idea that having the prices handy along with our catalogs makes the catalogs that much more useful. Our website,, has long provided the ability for you to print your own complete listing of prices realized for any auction.

To find this listing, go to the Permanent Auction Archives, and from there find the auction that interests you. Perform any search on this auction. You will see the results of your search, as usual, but on the right side of the page, you will also see two links.

The Printable Version of Prices realized for this Auction link will bring up a page much like the above which contains nothing but lot numbers and prices realized. This listing is designed to be printed out and kept with your catalog. If you are interested in more thorough information, click on Printable Catalog for this auction. This brings up a complete, printable listing of every lot in the auction, including both the description and the price the lot realized.

Of course, Heritage auctions often have several thousand lots, and printing an entire Printable Catalog may take several hundred pages. In order to save our forests, we urge you to preview the job and print only those pages you need!

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Numismatic Glossary:

Altered: A coin that has been treated after leaving the mint to resemble a more valuable coin. Altering a coin might involve changing a numeral in the date, adding or removing a mintmark, or removing another feature of a coin such as the leg on certain 1937-D nickels.

Arrows (1) Heraldry device used on many US coins. On the reverse of many coins, the eagle is holding both an olive branch and arrows -- the olive branch symbolizing peace, and the arrows symbolizing preparedness.
(2) Device placed on either side of the date of some US silver coins in 1853 and 1873 in order to signify a change in weight. In 1853, the weight was reduced because of high silver costs, and the arrows were placed in order to keep the coins from being melted for bullion. These arrows continued to be placed on the coins until 1855. In 1873, the weight was increased slightly in a move to a metric standard; however, the change was so small that the newer coins were within the weight tolerances used for the older ones. These arrows continued until 1874. Since certain no arrows varieties of 1853 and 1873 coins are quite scarce or rare, some of the more common varieties are sometimes altered to remove the arrows.

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Help Wanted: Numismatist

Heritage Auction Galleries, Dallas, Texas is seeking a talented numismatist for our sales department. Duties include assisting dealers and collectors and auction consignors in person and by telephone, evaluating prospective purchases, in Dallas and shows and conventions. Salary commensurate with numismatic skills and sales experience.

Please contact Paul Minshull at with your background and experience.

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Heritage Offers Huge Discounts on NumisMedia Guides

As a valued Heritage client, we wanted to let you know about the special discounts we have negotiated with NumisMedia for you. We believe you'll find these guides to be an indispensable coin-pricing resource. Heritage, along with many other numismatic insiders, consider NumisMedia to be the most accurate rare coin pricing source available anywhere.

NumisMedia Online Dealer Price Guides - Market, PCGS, and NGC Prices:
Just $120 per year. Order NOW!

NumisMedia presents NGC and PCGS Dealer Wholesale Prices representing dealer bid prices, and is available to dealers. In subscribing to the NGC/PCGS Wholesale Prices, you will also have access to the NumisMedia Market Prices, dealer to dealer trading prices based on sight-seen trades from activity throughout the country.

Bonus: In addition, subscribers to the Online Dealer Price Guides will receive a copy of the Fair Market Value Price Guide each month and gain access to the Online Fair Market Value Price Guide. This is an additional $96/year value.

NumisMedia Monthly FMV Price Guide:
Just $17 for 3 months. Order NOW!

The NumisMedia FMV Price Guide is a monthly publication with concise listings of the most recent Fair Market Value prices for coins offered by dealers in the numismatic community. The Fair Market Value prices listed represent accurately graded, sight-seen coins that are accepted by a majority of the dealers across the country.

There are over 40 pages of VF through MS67 listings in the following categories: Flying Eagle Cents, Indian Cents & Lincoln Cents (1909-1933) Brown, Red & Brown, and Red; Buffalo Nickels; Barber Dimes, Quarters, & Halves; Mercury Dimes (incl. Full-Bands); Walking Liberty Halves; Morgan & Peace Dollars; $1 Gold through $20 Gold; & Gold & Silver Commemoratives. The balance of U.S. coinage is available in our online price guide with your paid subscription.

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Around Heritage Auctions

Heritage to Auction Famous Kurt Cobain Guitar!

Heritage Auction Galleries will offer Nirvana's Kurt Cobain's 1960s Mosrite Gospel Guitar, in their upcoming Signature Music & Entertainment auction, to be held April 15 in Dallas, Texas.

According to Heritage's Music & Entertainment expert, Doug Norwine, "This instrument is unusual in a couple of ways. First, it is the only known example of a Mark V style Mosrite Gospel model. While Kurt owned and smashed many cheaper (usually Univox) copies of Mosrite guitars during his career, this was one of only two actual Mosrites he owned. (The other was damaged and given away.) It was also one of his favorite guitars, which saved it from the usual fate of the instruments he used for live performances."

Cobain purchased the guitar in San Francisco in 1990.

According to guitar-maker Earnie Bailey, 'Kurt had only one Gospel, and this is a beyond rare guitar. At the time Kurt died, I was secretly working with Loretta Mosley to build Kurt a lefty Gospel... in some cool color.'

Unfortunately, Kurt passed away as Earnie was gathering photos to send to Mosrite of Kurt's original. 'Loretta sent me a nice letter after it ended, as she had recently lost Semie (husband, founder of Mosrite) and was now running Mosrite on her own... she had sent me some sales literature of another Gospel, but could find no history of ever having made one based on the Mark V guitar.' (Quote reprinted from

Cobain had painted the very small Mosrite dot markers with white-out to make them more visible in a live setting. Although the previous owner removed this simple modification, residue is still visible on the instrument. This is a factory right handed instrument, so it was modified for Kurt with a strap button added to the treble side horn, and the original metal string guide has been flipped to allow it to be strung left handed. The original case bears the words 'NIRVANA' and 'F... Elvis' (colorful expletive deleted here but preserved on the case) in white paint which, while painted over with the same white paint, are still visible on inspection. This lot also includes a hand-written letter from Chris Cobb, owner of Real Guitars in San Francisco, who sold Cobain the guitar in the fall of 1990.

The Guitar carries a presale estimate of $75,000-up.

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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 150,000 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!

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

1. In the Overton cataloging system used for Bust Half Dollars, what would be the relationship between a coin cataloged as O-101 and a coin cataloged as O-101a?
       O-101a is an overdate created from the die used for O-101
       O-101a is a later die state than O-101
       O-101a is a later discovery, inserted between O-101 and O-102 in chronological order
       O-101a has a different reverse
       There is no predictable relationship

2. One 1870-S $3 gold piece is known today. Where is it?
       At ANA Headquarters in Colorado Springs
       Awaiting sale in a future Heritage auction
       In the British Museum
       In the cornerstone of the old US Mint building in San Francisco
       In the Smithsonian Institution

Last week's questions:

1. Roughly what was the assayed fineness of Mormon gold coins?
Correct Answer: .866 (31%).

2. In 1860, a restrike of the 1804 cent was minted using genuine US Mint dies. From what year was the reverse die used for this coin?
Correct Answer: 1820 (36%).

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Is It Time To Sell?

The Atlanta ANA Advantage

Heritage delivers for you all of the advantages needed to achieve top market prices in our 34th Official ANA Auction...

  • The hottest rare coin market ever
  • A numismatic venue of tradition — Atlanta
  • The incredible demand of motivated ANA visitors
  • Demand from 220,000+ registered bidder-members on our website
  • Our exclusive Permanent Auction Archives enshrine your collection
  • Marketing your consignment to the world
  • Our exclusive Interactive Internet bidding systems to maximize prices
  • Award-winning catalogers and the best images on the web or in print
  • The most experienced ANA auctioneer

Only Heritage, the world's numismatic auction leader, delivers all of these advantages, making this a truly exceptional selling opportunity. This was the same decision made by the consignor of the magnificent Duke's Creek Collection of Dahlonega Gold. Great anchor collections like this ensure that the attention of the numismatic world will be focused on Atlanta and on your coins.

To participate in this auction, please call our Consignor Hotline today: 1-800-872-6467, ext. 222

2006 April Atlanta, GA (ANA) Signature Auction
Sale on April 7 to April 9, 2006
Consignment Deadline: February 23, 2006

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. Feb. 7
at 10:00 PM
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Rare Coins
Location: Long Beach, CA
Auction: 2006 February Long Beach Signature Auction #400
Auction Dates: February 9-11, 2006
Note: Internet Absentee Bidding Ends at 10 PM CT the night before the floor session of any particular lot.
Browse Lots by Category

Rare Coins
Location: Long Beach, CA
Auction: 2006 February Long Beach Online Session #401
Auction Dates: February 13, 2006
Note: Internet Absentee Bidding Ends between 6 PM and 10 PM CT.
Browse Lots by Category

Rare Coins
Location: Palm Beach, FL
Auction: 2006 March Palm Beach, FL Online Session #413
Auction Dates: March 6, 2006
Note: Internet Absentee Bidding Ends between 6 PM and 10 PM CT.
Browse Lots by Category
Paintings, Silver, Art Glass and Antiques and more...
Closes Sunday, February 26, 2006 at 5:00 PM
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Movie posters, lobby cards and more...
Closes Sunday, February 5, 2006 at 10:00 PM
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Comics, comic art and more...
Closes Sunday, February 5, 2006 at 10:00 PM
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E-mail of the Week

I continue to be impressed with the prices realized from the several auctions that have now closed. I am also impressed with all of your and your colleagues' efforts regarding the listings of my wife's numismatic material. I plan to write a letter to Steve Ivy regarding what is panning out to be a very postive experience once all the auctions have been cleared, and I'll continue to keep the owner of the other (better) half of the collection informed in case he should decide to sell.

I was particularly impressed with the prices realized for the foreign coins in the 2006 January New York Signature Auction.

K.H., Pennsylvania

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