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  This Week In Coin News
July 14, 2012

Shoshana II Auction Coming Soon
Seldom Seen Selections: 1802 Proof Bust Dollar
Website Tips: Bid Protection
This Week's Top Ten
Reduced Auction Commissions When You Resell Your Winnings!
Employment Opportunities
Around Heritage Auctions
Instant Quiz: Test your numismatic knowledge
Is It Time To Sell? September Long Beach Auctions
Current Auctions: July 12-15 US Coin Summer FUN Signature Auction #1172, Internet Coin Auctions

  Collector News

Shoshana II Auction Coming Soon

Jewish War (66 - 70 AD). AR shekel (24 mm, 14.27 gm, 12h).
Jewish War (66 - 70 AD). AR shekel (24 mm, 14.27 gm, 12h).
We are putting the finishing touches on the catalog for Shoshana II, the second half of the incredible Shoshana Collection of Ancient Judaean Coins. Shoshana II will be held on Wednesday, Sept. 5, during the Long Beach Coin & Collectibles show in Long Beach, CA. The Shoshana Collection, assembled over a 30-year period by a Southern California collector, comprises coins related to the founding of Ancient Israel and the story of the Jewish people in the Holy Land. Part 1 of the Shoshana Collection, March 8-9, produced several world records, including $1.1 million for a "prototype" shekel of the Jewish War struck in the first year of conflict, 66 CE, one of two known examples. Two other coins also sold for just under $1 million each and altogether the 712 coins realized $7.6 million.

While we don't anticipate any million dollar shekels in Shoshana II, we expect several coins to sell well into five and even six figures and there will be many coins well within the reach of collectors on a more modest budget. As with the first auction, the second catalog is being written and annotated by David Hendin, author of "Guide to Biblical Coins" and the best-known living authority on Judaean coinage.

Like Shoshana I, the Sept. 5 offering will be divided between several phases of Judaean history:

  • Persian Period (480-333 BC) The first primitive coins, many of them copies of the famous Athens "owl" coinage, were struck at Holy Land mints such as Gaza, Samaria and Jerusalem.
  • Yehud Period (333-150 BC) Tiny coins stamped with the name "Yehud" (Judah, or "land of the Jews") in archaic Hebrew letters were minted in the region under the authority of the Hellenistic Greek kingdoms.
  • Maccabean Kingdom (135-37 BC) Ruled by descendants of Judah Maccabee, was the first autonomous Hebrew kingdom to mint coins.
  • Herodian Kingdom (37 BC - 93 AD) Ruled by Herod the Great and his descendents effectively as vassals of Rome.
  • Jewish War (66-70 AD) A titanic uprising against Roman tyranny that shook the Empire to its core;
  • Bar Kokhba Revolt (132-135 AD) The final major rebellion against Roman rule in the Holy Land.
  • Judaea Capta Coins struck by the Romans to propagandize the subjugation of Judaea
  • City Coins Struck under Roman, Byzantine, Islamic and Crusader authority by cities in the Holy Land from circa 37 BC to 1187 AD.

One highlight is a rare Year 5 shekel, struck during the Siege of Jerusalem by the Roman General Titus from May to September of 70 AD, is perhaps the finest known of 14 surviving "irregular" examples, including one now residing in the British Museum and a second in the Israel Museum. The coin carries an estimate of $75,000.

Nearly 200 Bar Kokhba coins will be included in the second, including five extremely rare silver selas dated Year 1. The Bar Kokhba offering includes a broad array of types and overstrikes with estimates ranging from $200 to more than $25,000, so there should be something to suit any interested collector's pocketbook. If you'd like to receive a copy of the Shoshana II catalog and are not sure whether you are on Heritage's print mailing list for Ancients, please write Dave Michaels at DMichaels@HA.com or call him at (310) 492-8615.

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Seldom Seen Selections: 1802 Proof Bust Dollar

1802 $1 PR65 Cameo PCGS.
1802 $1 PR65 Cameo PCGS.
The 1802 proof Draped Bust dollar is a coin that blends absolute rarity, intense historic interest, and incredible aesthetic appeal into one irresistible package. Unknown until 1876, the 1802 proof has been a sought-after issue since the time of its first appearance, but the coins have been the subject of much controversy, as well. Today the issue is viewed as a classic rarity, with a fascinating story that involves some of the most famous numismatic figures of the 19th century. In our upcoming August 2-5 Philadelphia Signature Auction, Heritage Auctions is privileged to offer the finest known example of the 1802 proof dollar, from a surviving population of only four coins.

This coin is a spectacular Gem with frosty devices that contrast dramatically with the deeply mirrored fields. There is no sign of the rust pit on the reverse that Walter Breen reported on all 1802 proofs. The design elements are sharply detailed throughout, except for the slightest touch of softness on star 13. Fine definition is evident on the strands of Liberty's hair and drapery, while the eagle's feathers show exquisite detail. The virtually pristine fields are blanketed in delicate shades of silver-gray patina with golden-brown highlights at the peripheries. All known examples of the 1802 proof dollar show similar high quality and eye appeal, and we believe all the coins have been awarded the same technical Proof-65 Cameo grade by PCGS, but this coin holds the top spot in Q. David Bowers' Condition Census. Heritage has now handled three of the four known specimens. We believe this coin is the finest known, by just the tiniest of margins.

The 1802 proof dollar first appeared on the numismatic scene in 1876, in the possession of John W. Haseltine, one of the foremost coin dealers of the time. The coin was showcased as part of a complete set of 1801, 1802, and 1803 proofs and a Class III 1804 dollar. Haseltine exhibited the set to collectors at the sale of the Jewett Collection, held by coin dealer Edward Cogan. Haseltine informed fellow coin dealer Edouard Frossard that he had found the set in a private collection from England, but the well-preserved condition of the coins and some of their design features caused contemporary numismatists to view this story of the coins' origin with suspicion.

The borders of the 1802 proof dollar, and all the other issues in Haseltine's set, were of a much different style from that seen on standard Draped Bust dollars dated 1795-1803. The coins in the set had a raised border surrounding a circle of small beads, rather than the ring of elongated denticles of different sizes seen on coins of the 1790s and early 1800s. This beaded rim feature was not seen on U.S. coins until the advent of the close collar in the late 1820s.

Although the edge lettering on the coin offered here cannot currently be viewed because of the PCGS holder, the description of this coin in prior auction appearances notes the lettering is slightly crushed and the outer portions of the edges are slightly beveled, as if the edges had been ground on a metal lathe. In addition, the surfaces of the coin's edge reportedly lack prooflike reflectivity. These details indicate that the edge lettering was impressed before the coin was struck, and the coin was struck with a close collar that squeezed the edge of the coin as it expanded, causing the letters to deform. The proof surfaces were dulled during this operation, as well. The edges were then beveled to disguise the effects of compression and prevent a wire rim effect.

The dies for the 1802 and most of the other Draped Bust proof dollars were apparently produced before the mid-1830s, but it seems likely that only the Class I 1804 dollars were actually struck during that era. When the 1801-1803 proofs first started to appear, in the late 1870s, they displayed perfectly preserved mirrored surfaces that showed no signs of circulation or long-term storage. The coins were sharply detailed and exhibited a more uniform strike than the coins of earlier years. On the reverse of the 1802 proof dollar, a thin die crack appears through the letters NITED. This feature suggests the 1802 was struck at a later date than the 1804 dollars, which only show this crack in an earlier state.

Perhaps the most compelling argument against the coins' being produced at an early date is the weight of the planchets. All 1801-1803 proof dollars that have been weighed are in a range of 419.5-423 grains. The standard weight for silver dollars minted before 1836 was 416 grains, and the standard weight for silver dollars after that date was 412.5 grains. The weight standard for Trade dollars &emdash; the only U.S. dollar coins being produced in 1876, when the 1801-1803 proof dollars first appeared &emdash; was 420 grains. The 1801-1803 proofs were clearly struck on Trade dollar planchets, as overweight blanks would have been adjusted or melted in earlier years.

Today we know of four specimens of the 1802 proof dollar, three 1803's, and only two 1801s. At this time, there seems no reason to think that more than four sets of coins were produced, with one example of the 1803 and two 1801s lost over the years. Of course, there may still be some examples that we are unaware of, but there is nothing in the available evidence to indicate a larger mintage. As Saul Teichman has pointed out, of the nine known Draped Bust proofs, six specimens were impounded in the collection of Virgil Brand, and the other three were in Waldo Newcomer's collection. Since neither of those vast collections was dispersed at public auction, tracing the history of the coins is an extremely difficult task.

The fundamental nature of these Proof Dollars has always been a subject of contention. Although the coins were initially offered as regular products of the Philadelphia Mint, it is now generally agreed that they were struck long after their putative dates by Mint personnel, using Mint machinery and planchets, for sale to collectors through unofficial channels. The dies for the coins were specially prepared but were never used to strike any coins of proof or business-strike format during the dates indicated on the coins themselves, so they cannot be classified as restrikes. Q. David Bowers has suggested "novodel," a term borrowed from Russian numismatics, to describe these pieces.

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Website Tips: Bid Protection

Tired of losing lots by one increment? Now, you can choose to add Bid Protection to any lot when you place a proxy bid through Heritage Live, If your proxy bid is outbid, Bid Protection will automatically increase your bid by one additional increment, giving you an additional chance to win. You can use Bid Protection on all items available for proxy bidding through Heritage Live, except for the current lot and the next upcoming lot.

There are three ways that you can add Bid Protection to your Heritage Live Proxy bids. If you are bidding from the lot listing at the bottom of the Heritage Live interface, just click on the Bid Protection box next to your bid or bids, then click the Bid LiveProxy button.

If you've clicked on the link to the lot description, enter your bid, check the box below your bid amount, and click on the "Bid Now!" Button.

Finally, you can go to the MyBids/MyTrackedLots tab and add or remove Bid Protection at any time, even for items on which you've already placed LiveProxy bids. In addition, the status column will point out all items where you have Bid Protection.

Bid Protection is designed to add one additional increment to your bid, if it is needed to try to win the lot. It is not protection against much higher Internet or proxy bids.

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This Week's Top Ten

1878-S 50C MS64 PCGS
1878-S 50C MS64 PCGS
The ten most common dates for US coins offered in Heritage auction:
  1. 1878
  2. 1883
  3. 1880
  4. 1909
  5. 1881
  6. 1884
  7. 1882
  8. 1885
  9. 1879
  10. 1942

Do you have a suggestion for a future top ten list? Send it to us!

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Reduced Auction Commissions When You Resell Your Winnings!

When you win any lot worth with a hammer price of $1,000 or more (or $2,500 for Art and Natural History lots), you will receive a coupon that entitles you (or your heirs) to re-consign that lot to Heritage at a reduced seller's commission. Selling through Heritage is a convenient and hassle free way to maximize your return (find out why). Maybe you'll need to make room in your collection for something better, perhaps your collecting tastes will change, or maybe it will be your heirs that benefit; but be sure to save the coupon, which could be worth hundreds or thousands of dollars.

  • Coins: 0% Seller's Commission for all items $1K or more.
  • Comics: 50% of the usual Seller's Commission for all items between $1K & $10K, and 0% for items $10K and over.
  • All Other Categories: 50% of the usual Seller's Commission for everything else over $1K ($2,500 for Art & Natural History).

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  Employment Opportunities

As the fastest growing American-based auction house, financially rock-solid Heritage Auctions continues to grow and seek the best talent in the industry. If you are a specialist or have strong general collectibles knowledge, we want to hear from you. These specialists will, in some cases, head new departments and in others will enhance existing department expertise. We have positions open at our headquarters in Dallas as well as at our new state-of-the-art galleries in prime locations in both Midtown Manhattan and Beverly Hills.

Heritage is seeking to hire the world's best specialists in the following categories:

  • 20th Century Design Specialist: Beverly Hills, New York
  • American Art Specialist: New York
  • Asian Art Specialist: Beverly Hills
  • European Art Specialist: New York
  • European Comic Art Specialist: Dallas, Paris
  • Fine Jewelry Specialist: New York
  • Firearms Specialist: Dallas
  • Modern & Contemporary Art Specialist: Beverly Hills and New York
  • Rare & Collectibles Wine Specialist: New York
  • Timepiece Specialist: Beverly Hills, New York
  • Trust & Estates Specialist: New York
  • World Coins Director: Hong Kong
  • World Paper Money Expert: Dallas/Remote

If you are interested and feel you have the qualifications we seek, please email your resume and salary history to Experts@HA.com.

We are also seeking to fill the following corporate positions:

  • Cataloger — Currency: Dallas/Remote
  • Cataloger — Fine art: Dallas
  • Cataloger — U.S. Coins: Contract, Remote
  • Client Services Representative: Dallas
  • Collections Supervisor: Dallas
  • Consignment Director — Currency: Dallas
  • Desktop Support: Dallas
  • Desktop Support Supervisor: Dallas
  • Digital Publishing Expert: Dallas
  • Graphic Designer: Dallas, Part-Time
  • Interns: Dallas
  • Inventory Control Clerk: Dallas, TX
  • Marketing Account Executive: Dallas, TX
  • Operations Assistant - Coins: Dallas
  • Operations Assistant - Vintage Guitars: Dallas
  • Operations Assistant - World Coins: Dallas
  • Returns Clerk: Dallas
  • Shipping Associate: Dallas
  • Web Developer: Dallas
  • Web Marketing Analyst: Dallas
  • Wine Warehouse Manager: Beverly Hills

If you are interested in applying for one of these Corporate positions, please apply here.

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  Around Heritage

Highlights From The Black Swamp Find Of 1910 E98 Baseball Cards Set To Lead Heritage Auctions’ Platinum Night Sports Event

1910 E98 'Set of 30' Baseball Near Set (27/30)It is nothing short of the most startling and significant find in baseball card collecting history: a near complete set (27/30) of 1910 E98 baseball cards — #1 on the PSA Set Registry — and it is the unquestioned headline in Heritage Auctions' August 2 Vintage Sports Collectibles Platinum Night Signature Auction, taking place as part of the National Sports Collectors Convention at Baltimore, MD's famed Camden Yards. The three lots from the find are estimated to bring $600,000+.

"This is an auction of incredible depth and breadth, so to name these cards the centerpiece is no small thing," said Chris Ivy, Director of Sports at Heritage Auctions. "These gems emerged from a small Ohio town, discovered in an attic in a box forgotten for a century beneath an ancient dollhouse. You have a better chance of winning the lottery than of making such a rare discovery."

Named for the damp landscape on the edge of Defiance, Ohio, where the cards served their 100 one years of solitude, The Black Swamp Find turns the PSA population chart on its head like never before. The roster includes the greatest of the game including Ty Cobb, Honus Wagner, Christy Mathewson, Connie Mack, Frank Chance, Johnny Evers, Cy Young plus others. Every card has been graded by PSA and all but three equal or stand alone as the finest copies in existence. All told, across three lots, Heritage is selling a selection of 37 Black Swamp cards.

The Finest Babe Ruth Single Signed Baseball KnownIt's said that Babe Ruth signed tens of thousands of autographs throughout his storied career, and the best command a pretty penny. Only one, however, stands above the rest and it's one of the most compelling highlights of the auction: The Finest Babe Ruth Single Signed Baseball Known, PSA/DNA Mint+ 9.5., is expected to bring $300,000+.

"The ball was originally given by the Babe's widow to Hollywood publicist William Stoll, who worked on the 1948 film, 'The Babe Ruth Story,'" said Ivy. "As far as sports autographs go, this ball could well be the Crown Jewel."

Circa 1932 Babe Ruth Game Worn New York Yankees CapAnother astounding and evocative piece of the Babe's legacy is his circa 1932 game worn New York Yankees cap (estimate: $300,000+), dating to the season of Ruth's famous "Called Shot" home run. The cap was given in 1932 to a young paperboy named Robert O'Brian, who delivered the paper to then-Yankees manager, the great Joe McCarthy, who took a shine to O'Brian, introducing him to many Yankees greats of the day and ultimately gifting him with this previous Ruth relic.

1912 Boston Red Sox World Series Trophy Presented to Manager Jake Stahl.One of the most significant artifacts relating to America's national pastime to ever come to auction arrives in the form of the 1912 Boston Red Sox World Series Trophy presented to Manager Jake Stahl, including a magnificent team cabinet photograph of the victors posing with the trophy. The trophy, which Boston won in one of the most contentious and famous World Series in baseball history, is estimated at $300,000+.

1910 E98 Set of 30 Honus Wagner (Black Swamp Find)"The 1912 season is seen as the most significant in Boston Red Sox history, marking the birth of the hallowed grounds of Fenway Park and the opening salvo in an era of dominance that would manifest four World Championships in a seven-season span," said Ivy. "As one of the few – and certainly earliest – privately held Major League World Championship trophies, this is among the most significant happenings in Red Sox Nation since the Curse of the Bambino was cured."

Baseball history continues to unfold in the auction with the single finest 1910 E98 "Set of 30" Honus Wagner card ever offered, from The Black Swamp Find, an amazing example grade by PSA as Gem MT 10 – the finest example known, along with the only 1927 Babe Ruth game used bat in private hands, PSA/DNA GU 10, the ultimate Ruth artifact from the famed 1927 Murderer's Row. Both lots are estimated at $200,000+.

More information about sports collectibles auctions.

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  Heritage Interactive
Instant Quiz

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

1. Which of the following locations did not strike Spanish milled dollars?
       A) Mexico City
       B) Lima, Peru
       C) Potosi, Bolivia
       D) Santiago, Chile
       E) San Jose, Costa Rica

2. If a coin has a Sheldon number, what is it?
       A) Bust Dollar
       B) Bust Half Dollar
       C) Half Cent
       D) Large Cent
       E) Morgan Dollar

Last week's questions:

1. When did the US Mint strike its first twenty dollar gold piece struck for circulation?
Correct Answer: C) 1850 (40%).

2. What was the last year of the Shield nickel?
Correct Answer: D) 1883 (47%).

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  Is It Time To Sell?

Two Chances to Sell in Long Beach

Heritage offers you two distinct opportunities to sell in the official auctions of the September 2012 Long Beach Coin and Collectibles Expo. We are excited to present our inaugural World Paper Money Signature Auction at this event, to go along with the rarities featured in our auctions of US Coins and World and Ancient coins. These auctions, along with our auction of the Shoshana Collection of Judaean coins, will provide coins for virtually every numismatic taste to be found in Southern California - not an easy thing to do!

To add your rarities to one of these auctions, just call our consignment hotline at 800-872-6467 x1000. Hurry — the consignment deadlines are coming up soon!

2012 September 5-8 The Shoshanna Collection of Judean Coins Part 2 Signature Auction - Long Beach
Consignment Deadline: Closed

2012 September 5-10 Signature World & Ancient Coin Auction - Long Beach
Consignment Deadline: Closed

2012 September 5-10, 2012 World Paper Money Signature Auction - Long Beach
Consignment Deadline: July 16, 2012

2012 September 5-9 US Coins Signature Auction- Long Beach
Consignment Deadline: July 27, 2012

David Mayfield
Vice President, Numismatic Auctions
1-800-US-COINS ext. 1000

Interested in Selling?
What's My Coin Worth?
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  Current Auctions
Coin Auctions
2012 July 12-15 US Coin Summer FUN Signature Auction - Orlando
Heritage Live Enabled
2012 July 12-15 US Coin Summer FUN Signature Auction - Orlando #1172
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Sunday Internet Coin Auction Sunday Internet Coin Auction #131229
July 15, 2012
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Tuesday Internet Coin Auction Tuesday Internet Coin Auction #131229
July 17, 2012
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Thursday Modern Coin Auctions Thursday Modern Coin Auctions #241229
July 19, 2012
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Monthly World Coin Auction Weekly World Coin Auction #231229
July 19, 2012
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Currency Auctions
Tuesday Internet Currency Auction Tuesday Internet Currency Auction #141229
July 17, 2012
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Other Signature Auctions
2012 July 24 Entertainment & Music Memorabilia Signature Auction- Beverly Hills Heritage Live Enabled
2012 July 24 Entertainment & Music Memorabilia Signature Auction- Beverly Hills #7058
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2012 July 25-26 Vintage Movie Posters Signature Auction- Beverly Hills Heritage Live Enabled
2012 July 25-26 Vintage Movie Posters Signature Auction- Beverly Hills #7060
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2012 July 26-28 Vintage Comics & Comic Art Signature Auction- Beverly Hills Heritage Live Enabled
2012 July 26-28 Vintage Comics & Comic Art Signature Auction- Beverly Hills #7063
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2012 August 2 Vintage Sports Collectibles Platinum Night Signature Auction- Baltimore Heritage Live Enabled
2012 August 2 Vintage Sports Collectibles Platinum Night Signature Auction- Baltimore #7057
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2012 August 7 KidSwing Golf Tournament 2012 August 7 KidSwing Golf Tournament #515
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Other Internet Auctions
Sunday Internet Movie Poster Auction Sunday Internet Movie Poster Auction #161229
July 15, 2012
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Sunday Internet Comics Auction Sunday Internet Comics Auction #121229
July 15, 2012
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Sunday Internet Sports Auction Sunday Internet Sports Auction #151229
July 15, 2012
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Weekly Internet Luxury Accessories Auction Weekly Internet Luxury Accessories Auction #251229
July 17, 2012
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Tuesday Internet Watch & Jewelry Auction Tuesday Internet Watch & Jewelry Auction #171229
July 17, 2012
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Weekly Internet Rare Books and Autographs Auction Weekly Internet Rare Books and Autographs Auction #201229
July 19, 2012
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Thursday Vintage Guitar & Musical Instrument Internet Auction Thursday Vintage Guitar & Musical Instrument Internet Auction #181229
July 19, 2012
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