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  This Week In Coin News

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Greensboro Collection Treasures offered in Dallas Auction

1838 10C No Drapery PR67 Cameo NGC
1838 10C No Drapery PR67 Cameo NGC
We are pleased to feature outstanding selections from Part One of the Greensboro Collection as a part of our October US Coins Auction, the official auction of the Dallas National Money ShowSM. This auction is scheduled for October 17-20 in Dallas and through the Internet at HA.com/Coins.
1896 25C PR69 Ultra Cameo NGC
1896 25C PR69 Ultra Cameo NGC
The level of rarity and quality in this collection is immediately evident when one reviews the Proof Seated dime offerings. Every year of the series between 1837 and 1891 is covered, save for the 1851, which has never been certified as a proof by one of the major grading services. This means that no fewer than 20 of the rare pre-1858 proofs are included. Each of the dimes in this collection grades PR63 or higher, with the vast majority at PR66 or higher. If that isn't enough, this collection also includes a Specimen 1839 dime from the New Orleans Mint, and the popular 1859 transitional "Stateless" dime, struck without the legend UNITED STATES OF AMERICA anywhere on the coin.
1792 disme struck in copper
1792 disme struck in copper
The other series covered in this collection is Proof Barber quarters, and what beauties they are. The collection is, of course, complete, and every single coin is a Superb Gem... or higher, complete with five coins in the penultimate grade of Proof-69. Both the 1896 and the 1898 bear the Ultra Cameo designation from NGC.
1802 $1 PR64 PCGS
1802 $1 PR64 PCGS
If that isn't enough, this collection also includes a selection of proof and specimen strikings from the earliest part of our nation's history, including a 1793 Wreath Cent in Specimen 66, a 1794 half dime in Specimen-67, a 1792 Disme struck in copper, and a proof 1802 novodel dollar. We invite you to view the entire selection at HA.com/Coins.

Future offerings from The Greensboro Collection will focus on other proof series and great rarities, with another superb offering scheduled for FUN in January. The collector behind The Greensboro Collection remains active in numismatics; the proceeds from this and the other parts of The Greensboro Collection will help with assembling current sets.

This auction is open for bidding now at HA.com/Coins.

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Seldom Seen Selections: A Great Fairbanks National Bank Note

Fairbanks, AK - $5 1902 Red Seal Fr. 587 First NB Ch. # (P)7718
Fairbanks, AK - $5 1902 Red Seal Fr. 587 First NB Ch. # (P)7718
In 1867, Alaska was purchased from Russia for $7.2 Million. Even with a price of about two cents per acre, it was considered a serious political gaffe. The then Secretary of State, William H. Seward, had pushed for the acquisition of this new territory, which was to increase the size of the United States and its Territories by more than 15 percent. Americans scoffed at purchasing the vast "wasteland," and quickly referred to it as "Seward's Folly," and "Seward's Icebox."

By the late 1890's, Seward's name was vindicated by the discovery of gold in Alaska which sparked the Klondike Gold Rush. The discovery started a border dispute with Canada. Unfortunately for the United States, previous borders between Russian Alaska and Canada were vague. Dispute resolution was now a priority, and Indiana Senator Charles W. Fairbanks was appointed a member of the United States and British High Commission for matters concerning Canada. This included the newly ignited border dispute. Senator Fairbanks's role in 1898 was considered a success, resulting in the majority of the disputed Territory going to the United States.

The Klondike Gold Rush sparked a population explosion in Alaska. The population roughly doubled, from 32,000 in 1890 to nearly 64,000 in 1900. Alaska's then second largest city, Fairbanks, was settled in 1901. The name was chosen to pay tribute to Senator Fairbanks's contributions to the District of Alaska. The city grew quickly and by 1905, The First National Bank of Fairbanks deposited funds with the US Treasury in Washington and received National Bank Notes to circulate in the area. Series 1902 Red Seals were the first notes issued by the bank, with 1,600 sheets of $5 notes and 1,460 of $10-$10-$10-$20 sheets making up the first notes issued by the bank. Our Dallas Currency Signature Auction features one such note, Serial Number 1 with plate letter C, the third note from the first sheet of $5 notes issued by the bank. The note featuring plate letter D is also in the census and first appeared at auction in 1969. In its last appearance in 1997, the note realized $93,500 — one of the highest prices ever paid for a National Bank Note up to that point.

This wonderful piece was presented to Charles W. Fairbanks and comes to us directly from his family. His successes as a United States Senator propelled him to an even higher office — as Vice President under Theodore Roosevelt. After his tenure as Vice President, he continued in politics and ran for the presidential nomination in 1916. He failed to receive the nomination, but did win the nomination for Vice President under Charles W. Hughes. The election was close, but they lost to Woodrow Wilson and his running mate Thomas Marshall.

We will never know for sure why this treasure was preserved for collectors, but it was not uncommon for wealthy bankers to set aside a note or two from the first sheet as mementos. This practice may have accounted for the survival of this note and the other Serial Number 1 $5 Red Seal known from the bank. No number-one notes are known for the $10 or $20; in fact, just one piece is known for each denomination. Were it not for a small grouping of consecutively numbered $5 Red Seals set aside decades ago, the $5 Red Seals would also be prohibitively rare. PCGS graded this note Apparent Choice New 63, with mention of some minor restorations on the back corners. It shows strong embossing with full and original paper wave. Each of the margins is full and the overprint is slightly muted, but attractive. The blue serial number 1, at lower left, and blue Treasury serial number are bright and bold. The signatures of the Cashier and President are also bold.

Both of the men who signed the note were important characters in early Fairbanks history. The Cashier, Luther Hess, was one of Fairbanks's first citizens and a prominent lawyer serving as the Assistant U.S. District Attorney until 1905. He later served as vice president of the bank and was an Alaskan Territorial legislator. President Samuel Bonnifield signed this piece as president of the bank and was quite the character. He was in Alaska long before the Klondike Gold Rush and was a professional gambler with a reputation for huge bets and being a very fair and likeable individual, earning the nickname "Square Sam." He co-founded the First National Bank with Frank G. Manley. In 1906, the First National Bank and most of downtown Fairbanks were destroyed by fire, and shortly thereafter Bonnifield suffered a nervous breakdown. He left Alaska to spend time recovering with family in the continental United States. His return was marked by the Fairbanks Daily Miner, "No man ever lived in the North who has more real friends than has Sam Bonnifield." The return was short lived; he went insane, resulting in an arrest by the Marshall's office and admission to Morningside Hospital — the infamous Alaskan institution for the insane. Prior to his arrest, Bonnifield reportedly withdrew a large sum of money from the bank and passed it out to laborers in town.

Many arguments can be made over what notes should be included on the list of the greatest National Bank Notes, but this note, in our opinion, is easily a candidate for the top ten. Among Alaska National Bank Notes, it is the most important in terms of pedigree, with ties to some of the most significant individuals in Fairbanks's early history.

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Website Tips: MyBids

MyBids is a very powerful tool for you as a bidder to keep track of all of your bids, present and past, from any Heritage site.

When you first arrive at the MyBids page, you'll see something much like this:

At top will be the collectible type whose bids you are reviewing, such as Coins or Comics. If you wish to look at bids from another Heritage site, choose the site from the drop-down list:

Click on the "Go" button to the right of the listing in order to change sites. This will show you your bids in all auctions on the other site, and it will take you to the MyBids page on the appropriate site. For instance, if you have placed a bid on one of the many intriguing letters or books in our current Books or Manuscripts Grand Format Auctions, choose "Historical", and you will be taken to the MyBids page on the Historical site.

Next is an area where you can choose exactly which bids to examine. By default, the page will show you bids from all current auctions on the site you're currently on, ordered by when Internet bidding closes, with totals covering all of your current bids in this collectible type. To look at your bids from an individual auction, choose it from the drop-down menu in the center. This will show you totals and bids only from that particular auction.

If you are interested in examining your bids from closed auctions, click on the "Closed Auctions" link. By default, this page will show you bids from all auctions that closed in the last ten days, but you will still be able to choose to look at your bids in any particular auction by, again, simply choosing it from the drop-down menu.

Below this come your actual bids, either from all auctions or from an individual auction. The columns are:

  1. A thumbnail photo of the lot.

  2. The lot number. Click on the link to see a full description and image of the lot.

  3. The lot's description, including category, short description, reserve status, and possibly certain other features.

  4. The lot's grade, if any.

  5. The number of people who have bid on the lot, as well as the number of people who have tracked it.

  6. Your maximum bid. This is the number you entered when you made your bid, and this is the bid that will stand for you against all other bidders. If this number is green, you have the winning bid. If this number is red, someone else has the winning bid. The number in parentheses is the maximum bid plus the Buyer's premium.

  7. The current bid. This is what the winning bidder will pay for the lot if the auction ends right now, with the buyer's premium added in parentheses. This is also what other bidders will see if they look for the current bid on the lot.

  8. The next bid. This is the minimum amount any future bidder can bid on the coin, again with the buyer's premium added in parentheses. Notice in this case that if someone bids this minimum amount on this coin, your $75 bid will work for you and you will still have the winning bid.

  9. Batch bids. From the MyBids page, you can place bids on any lots you have already bid on. See Batch Bidding for more details.

  10. The time remaining for internet bidding in the current auction. This figure does not update itself, so if it is getting close to auction close, you will need to refresh your browser periodically to see the actual time remaining.

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This Week's Top Ten

The eleven highest valued lots to sell in Heritage's official auctions of ANA conventions:

1920-S $10 MS67 PCGS
1920-S $10 MS67 PCGS
  1. 1920-S $10 MS67 PCGS. Sold for $1,725,000.
  2. 1792 Disme, Judd-10, PR62 Brown NGC. Sold for $690,000.
  3. 1825/4 $5 AU50 NGC. Sold for $690,000.
  4. 1804 10C 14 Stars on Reverse AU58 NGC. CAC. Sold for $632,500.
  5. 1851 LE Humbert Fifty Dollar, 880 Thous. MS63 PCGS. No 50 on Reverse, K-2. Sold for $546,250.
  6. 1907 $20 High Relief, Wire Rim MS69 PCGS. CAC. Sold for $517,500.
  7. 1880 $4 Flowing Hair, Judd-1657, PR66 Cameo NGC. Sold for $488,750.
  8. 1921 $20 MS64 PCGS. CAC. Sold for $474,375.
  9. 1915 Panama-Pacific Half Dollar in Gold, Judd-1960, formerly Judd-1793, High R.8, PR64 NGC. Sold for $460,000.
  10. 1854-O $20 AU58 NGC. Sold for $431,250.
  11. 1856-O $20 AU55 PCGS. Sold for $431,250.

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

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American Numismatic Association School Of Numismatics

If you are coming to the Dallas National Money ShowSM in October, the American Numismatic Association School of Numismatics will be offering a two-day course on the Fundamentals of Grading US Coins.

Knowledge of coin grading not only makes you more confident on the bourse floor, but also adds to your enjoyment of the hobby by helping take the worry out of numismatic purchases. Learn how U.S. coins should be graded according to the latest ANA and market standards. The seminar covers many topics and emphasizes the fundamental principles of grading circulated U.S. coins, including the history and evolution of grading standards, analysis of a coin's focal points, technical and market grading, how to determine initial signs of wear and evaluating surface marks, strike, luster and eye appeal.

Instructors: Rod Gillis, ANA numismatic educator; and Mike Ellis, ANA Governor and Variety Specialist, Mike Ellis Rare Coins

Time: 9 a.m. to 4 p.m., Tuesday and Wednesday, October 16 - 17, 2012

Tuition: $198 for ANA members; $298 for non-members. $25 discount for ANA Life Members

Click here for more information

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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
  • Asian Art Specialist: Beverly Hills
  • Comics & Comic Art Specialist: New York
  • 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
  • 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
  • Client Data & Research Specialist: Dallas
  • Client Services Representative: Dallas
  • Color & Photography Imaging Specialist: Dallas Contract
  • Comics Grader: Dallas
  • Consignment Director — Currency: Dallas
  • Desktop Support: Dallas
  • Desktop Support Supervisor: Dallas
  • Digital Publishing Expert: Dallas
  • Email Marketing Specialist: Dallas
  • Executive Assistant — Currency: Dallas
  • Filing Clerk - Accounting: Dallas
  • Graphic Designer: Dallas, Part-Time
  • Interns: Dallas
  • Marketing Account Executive: Dallas, TX
  • Microsoft Dynamics GP Accounting Developer: Dallas/Contract
  • Network & Systems Administrator: Dallas
  • Operations Assistant - Coins: Dallas
  • Returns Clerk: Dallas
  • Shipping Associate: Dallas
  • Web Developer: Dallas
  • WPF Applications Developer: Dallas
  • Wine Warehouse Assistant: Beverly Hills

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

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  Around Heritage
Roy Lichtenstein's 1964 Sunrise; Sunset Leads Modern & Contemporary Event

Roy Lichtenstein's 1964 ink and graphite on paper masterpiece, Sunrise; Sunset, is expected to realize more than $400,000 when it comes across the auction block as the lead lot in Heritage Auctions' Oct. 23 Modern & Contemporary Art Signature Auction, taking place at the company's Design District Annex, 1518 Slocum Street.

"In 1964 Fiddler On The Roof was the toast of Broadway, where it went on to win 9 Tony Awards, one of which was for Best Musical," said Frank Hettig, Director of Modern & Contemporary Art at Heritage. "The Act 1 closer, 'Sunrise, Sunset,' was a pop culture phenomenon and one of the Broadway canon's most memorable tunes. Certainly Lichtenstein was aware of this popular and infectious tune when he created this remarkable set of drawings with the same title."

By the time this wonderfully reductive painting emerged from Lichtenstein's mind, three important things had occurred in his life: he had separated from his first wife, Isabel, and moved back to Manhattan, he had resigned from teaching at Douglass College to pursue art full time and he had begun the break from painting the cartoons containing dialogue boxes complete with text, which were so prevalent in his oeuvre the prior couple of years, starting with Look Mickey in 1961.

"In fact, words were rarely appearing in his paintings in 1964 and, by 1966, were totally eliminated from his paintings and were never seen again," said Hettig. "It was also in '64 that he started painting landscapes, utilizing classical subject matter and morphing it to his own purposes."

The landscape, like the cartoon, was soon to be distilled to its basics and handled in Lichtenstein's ingenious way. He stopped using window screens to create the uniformity of the famous Benday dots he desired in his paintings, even varying the size of the dots.

"Sunrise;Sunset is doubly important because it represents the first time the Benday dot grew to an enormous proportion, which was then cropped to form the Sun in this work," added Hettig. "Even the ultimate power source of the world had now become a cropped Benday dot."

Another top highlight of the auction comes in the form of the recently uncovered Richard Diebenkorn painting, Untitled, circa 1951 (estimate: $150,000+), a work by the master missing from the total census of his work until it was found to be in the Texas-based collection of the consignor.

"This is a great find and speaks to the depth of the collections, and to the discerning eyes of collectors, in Texas," said Hettig. "This is a piece that was well-cared for and well-loved over the decades and, now, stands as a great investment for the family that has been its' steward all these years."

Rounding out the top trio of art offerings in the auction is a sublime Jean-Michel Basquiat, Free Comb with Pagoda, 1986, an intriguing mixed media work on paper from the notorious street artist who rapidly rose to fame in the 1980s with his graffiti-inspired art. It carries an estimate of $80,000+.

One of the most interesting lots in the Oct. 24 event is a working maquette for a Salvador Dalí exhibition, April 14 to May 5, 1943 at the Galleries of M. Knoedler and Company, Inc. New York. The piece, expected to bring $40,000+, was created using a catalog for a previous El Greco loan exhibition at Knoedler and contains 16 original tipped-in sketches, 13 of which are sepia pen while three are ink and three are pencil. It also contains annotations in both Dalí's hand and that of his wife, Gala.

More information about Modern & Contemporary Art auctions.

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The GRACE Gala Auction

We are proud to present the October 13 GRACE Gala Auction #527 benefitting Grapevine Relief and Community Exchange. This auction is open for online bidding until 10:00 PM CT, October 12, 2012, with auction resuming at the GRACE Gala live event, 7:30 PM CT October 13, 2012 at Irving Convention Center in Las Colinas. For further information contact EricaS@HA.com or call 1-800-872-6467.

Bidding in the GRACE Auction supports the ninth annual GRACE Gala — "Angels Among US" — presented by Thompson Group Classic Chevrolet. All proceeds of the gala go towards GRACE to help more than 19,000 individuals each year in the Northeast Tarrant County community. To purchase tickets, please visit gracegala.org

Grapevine Relief And Community Exchange (GRACE) is a Grapevine, Texas based non-profit relief agency which provides food, clothing, financial assistance, and other vital necessities to people who are struggling with a limited income or recent emergency. The philosophy of GRACE is that encouraging self-sufficiency will, in turn, encourage community cohesiveness. Compassion and assistance are offered as a response to God's grace by local churches in partnership with municipalities, businesses, civic organizations, and individuals. For more information, please visit gracegrapevine.org

Lots Include

More information about Charity auctions.

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  Heritage Interactive
Opinion Poll

Answer this quick question and see how your opinion compares with your peers.

1. Which of the following do you prefer to collect?
       A) Copper coinage
       B) Silver coinage
       C) Gold coinage
       D) Modern coinage
       E) I like it all!

Last week's questions:

1. Where do you purchase most of your coins?
A) Coin shops (15%).
B) Coin shows (22%).
C) Live auctions (9%).
D) Online auctions (37%).
E) Other (17%).

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  Is It Time To Sell?

Heritage is dedicated to selling your rare coins and currency for top dollar! That requires the right auction and the right venue. You deserve to be richly rewarded for your years of dedicated collecting, whether you wish to consign your entire collection or just one important piece. Contact us today to discuss your upcoming opportunities.

Our next Signature Auction will be November 29-December 2 at the Money Show of the Southwest in Houston. Contact us today at 800-872-6467 ext. 1000 to discuss your upcoming opportunities.

2012 November 29 - December 2 US Coin Signature Auction - Houston
Consignment Deadline: October 16, 2012

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

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
Coin Auctions
2012 October 18-21 ANA US Coins Signature Auction - Dallas
2012 October 18-21 ANA US Coins Signature Auction - Dallas #1175
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Sunday Internet Coin Auction Sunday Internet Coin Auction #131241
October 7, 2012
View Lots
Tuesday Internet Coin Auction Tuesday Internet Coin Auction #131241
October 9, 2012
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Thursday Modern Coin Auctions Thursday Modern Coin Auctions #241241
October 11, 2012
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Weekly World Coin Auction Weekly World Coin Auction #231241
October 11, 2012
View Lots

Currency Auctions
2012 October 17-23 ANA Currency Signature Auction- Dallas 2012 October 17-23 ANA Currency Signature Auction- Dallas #3520
View Lots
Tuesday Internet Currency Auction Tuesday Internet Currency Auction #141241
October 9, 2012
View Lots

Other Signature Auctions
2012 October 13 GRACE Gala Auction, Benefiting Grapevine Relief and Community Exchange 2012 October 13 GRACE Gala Auction, Benefiting Grapevine Relief and Community Exchange #527
View Lots
2012 October 13-14 Illustration Art Signature Auction - New York 2012 October 13-14 Illustration Art Signature Auction - New York #5111
View Lots
2012 October 14 Natural History Signature Meteorite Auction - New York 2012 October 14 Natural History Signature Meteorite Auction - New York #6089
View Lots
2012 October 23 Modern & Contemporary Art Signature Auction - Dallas 2012 October 23 Modern & Contemporary Art Signature Auction - Dallas #5113
View Lots
2012 October 27 Maritime & Ship Models Signature Auction - Annapolis 2012 October 27 Maritime & Ship Models Signature Auction - Annapolis #5128
View Lots
2012 October 26-27 Vintage Guitars & Musical Instruments Signature Auction - Beverly Hills 2012 October 26-27 Vintage Guitars & Musical Instruments Signature Auction - Beverly Hills #7071
View Lots

Other Internet Auctions
Sunday Internet Movie Poster Auction Sunday Internet Movie Poster Auction #161241
October 7, 2012
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Sunday Internet Sports Collectibles Auction Sunday Internet Sports Collectibles Auction #151241
October 7, 2012
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Sunday Internet Comics Auction Sunday Internet Comics Auction #121241
October 7, 2012
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Weekly Internet Luxury Accessories Auction Weekly Internet Luxury Accessories Auction #251241
October 9, 2012
View Lots
Tuesday Internet Watch and Jewelry Auction Tuesday Internet Watch and Jewelry Auction #171241
October 9, 2012
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Thursday Vintage Guitar & Musical Instrument Internet Auction Thursday Vintage Guitar & Musical Instrument Internet Auction #181241
October 11, 2012
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Weekly Internet Rare Books and Autographs Auction Weekly Internet Rare Books and Autographs Auction #201241
October 11, 2012
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Monthly Internet Wine Auction Monthly Internet Wine Auction #221241
October 11, 2012
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