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This Week in Coin News August 24, 2013
In This Issue:
Impressive Offerings In Long Beach World Coin Auction
A World of Money: A Highly Desirable "Coarse Beard" Burgers Pond
Website Tips: MyConsignments
This Week's Top Ten
Coin Buyer Wanted - Dallas Office
Reduced Auction Commissions When You Resell Your Winnings!
Employment Opportunities
Around Heritage Auctions
Instant Quiz
Is It Time To Sell?
Current Auctions
Newsletter Archive
Last Issue
Impressive Offerings In Long Beach World Coin Auction
Titus (AD 79-81). Orichalcum sestertius
Titus (AD 79-81). Orichalcum sestertius
We are just finishing up the final touches of the catalog for our upcoming World and Ancient Coins Signature Auction, to take place September 25-27 in connection with the Long Beach Coin and Collectibles Expo, with additional Live sessions taking place September 30-October 1 at HA.com/Coins.

With over 5700 lots in total, this behemoth auction ranges across the landscape of world numismatics, starting with one of the largest offerings of ancient coins we've ever been privileged to offer, scheduled for its own session on September 25. Highlighting this selection of nearly 900 coins is an important orichalcum sestertius of Titus (AD 79-81) featuring an overhead view of the Colosseum. This remarkable coin was issued to mark the completion of the Colosseum in AD 80, and it depicts the structure in amazing detail, complete with spectators. It is expected to cross the auction block for $60,000-$70,000.

Empire gold Pattern Kuping Tael CD 1906, KM-Pn301
Empire gold Pattern Kuping Tael CD 1906, KM-Pn301
Impressive selections from many other countries add to the flavor of this auction. Offerings from China are always popular, and among the over 200 lots of Chinese material in this auction are two great rarities. In the Chinese series, well known to be filled with rarities, the pattern gold Kuping Tael minted in 1906 stands out. This example is graded Specimen 62 by PCGS and is expected to hammer for an amount in excess of $100,000. A large (52mm) gold medal issued by the Tientsin Provisional Government in 1902 after the end of the Boxer Rebellion features the enameled flags of the seven nations that occupied northern China at the time. This medal is extremely rare, with only two believed known, and this example is likely the finest by far. It is estimated at $75,000-$100,000.

Joao VI Prince Regent gold Ingot of Sabara 1812
Joao VI Prince Regent gold Ingot of Sabara 1812
An offering of over 350 Brazilian lots is highlighted by Part 2 of The RLM Collection of Brazilian Gold Coins, which contains an extensive selection of Brazilian numismatic history ranging from the second colonial period in 1751 through independence in 1822. Included in this collection are four extremely rare legal tender gold ingots, an amazing offering considering that only 219 are known from all sources with as many as half of those residing in museums.

Republic Cap and Ray 8 Reales 1835-Ho PP Republic Cap and Ray 8 Reales 1835-Ho PP
Over 250 lots of Mexican coinage are highlighted by The Nogales Collection of Cap and Ray 8 Reales, which includes the 1835 Hermosillo 8 Reales, graded VF30 by NGC. This coin was first offered at public auction at Long Beach in 2008, and is believed to be unique. It is expected to realize $40,000-$60,000.

Our Long Beach auction also features impressive material from Australia, Canada, China, France, Germany, Great Britain, Italy, Russia, South Africa (featuring the Burgers Pond highlighted in detail below in the next article), Switzerland, and Spain.
Our offerings of Goetz dies and medals continue in the Live sessions scheduled for September 30 - October 1.

A few of the other individual highlights of this auction include:

Persia under Alexander. Mazaeus, as Satrap of Babylon (331-328 BC). AV double-daric. Good Very Fine Persia under Alexander. Mazaeus, as Satrap of Babylon (331-328 BC). AV double-daric. Good Very Fine
Annam: Minh Mang gold 1 Lang Bar ND (1820-41), KM238, Sch-190, XF Annam: Minh Mang gold 1 Lang Bar ND (1820-41), KM238, Sch-190, XF
Brazil: Joao V gold 20000 Reis 1724, KM117, MS63 NGC Brazil: Joao V gold 20000 Reis 1724, KM117, MS63 NGC

This auction will open for bidding soon at HA.com/Coins!

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A World of Money: A Highly Desirable "Coarse Beard" Burgers Pond
Republic gold Burgers Pond 1874
Republic gold Burgers Pond 1874
The Transvaal patterns in gold of President Burgers figure among the rarest of the world's gold coins, and were in fact the first types of Pond (Pound, or Sovereign) struck of native South African gold. The off-metal patterns (listed by Hern on page 340 of his reference) are rare enough, but the pieces struck in gold suffered a generally poorer fate than did the trials made of bronze, brass, aluminum, or silver. Most of the gold pieces were sold as souvenirs not long after they were made, and the majority became disfigured in jewelry. We told their story in our Auction #3016 (January 2012) under Lot 25072, which was another wonderful specimen but of the "Fine Beard" variety, of which far more were struck (695 compared to 142). With our offering of a specimen of the "Coarse Beard" variety in our upcoming September 25-October 1 World Coin Signature Auction in Long Beach, we repeat the story here.

Colonial South Africa consisted of disconnected immigrant settlements which used coins of their native countries as well as tokens for money. When gold was discovered in the Transvaal in 1869, it marked a sea change for the area's inhabitants. The first gold coin was minted in 1874 in extremely limited numbers and suffered from such a poor initial reception that today's collectors are faced with a serious challenge trying to locate an unimpaired piece.

It seems that Thomas François Burgers, second president of the republic, had received a number of suggestions urging him to create a gold coinage. He decided to approach the Birmingham, England, firm of Ralph Heaton and Sons to change the situation. Unfortunately he made the decision on his own, without the approval of his fellow legislators, and it was to prove a fatal error.

The Heaton Mint engaged the services of Leonard Wyon, the Royal Mint's engraver, who prepared dies showing a portrait of Burgers, who himself supplied the gold specie for the coinage, as well as an elaborate reverse design showing the coat of arms of the fledgling republic. The gold specie used to make these coins was mined in the Transvaal, and Burgers' intention was just that — a local use for native ore. The exact number struck is not known, but it is assumed that 837 pieces were made using up the amount of gold given to the mint by Burgers.

Once he had them in his hands, Burgers displayed his gleaming gold coins proudly to members of the Volksraad, and waited for their acceptance. But it was not to be. The legislators objected vehemently to Burgers' use of his own image and they soundly rejected the coin which was to become the forerunner of the famed golden Pond, first produced in 1892. But in 1874 the Burgers pond had failed as a commercial idea. Subsequently, most of the mintage was sold to the public at twice face value, and for a number of years they were thought of as nothing more than mere mementoes. The public carried these as pocket pieces, showed them off to friends, drilled holes through some and mounted others on gold chains for jewelry, and finally threw them into drawers or jewelry boxes, where they were forgotten. Few if any South Africans in the 1870s envisioned them as one day being of great value.

When the first official gold ponds appeared in 1892, they reminded a small number of people in the ZAR of the earlier pond of 1874, and scattered collectors began looking for examples, knowing next to nothing about the coins. Numismatic interest began in earnest upon the conclusion of the Boer War, with the annexation of South Africa into the British Empire. It gradually became apparent that most Burgers ponds had been damaged or mishandled. So few were available for study that no one realized that two varieties existed until the 1940s, and the first few decades of the 20th century proved the rarity of these coins when not impaired. They became eagerly collected in England and throughout the Commonwealth, as well as in the homeland itself. But most had been lost or damaged, and only a tiny number exist in Mint State today. Nicer pieces seemed to be slightly circulated.

Time has proven that any undamaged piece is a miracle of survival, and it is quite likely that some of the finest known pieces were those kept by the very legislators who had dismissed the coins as meaningless back in 1874. What had once offended sensibilities had transformed itself into nothing less than a national treasure.

The Coarse Beard specimen in Long Beach is Uncirculated (graded MS64+ by PCGS), and clearly among the finest known examples of this very rare variety. It is boldly struck on both the portrait and the reverse shield, struck with high wire rims and reflective luster, and possessing delicate golden toning. In natural light, this is an utterly charming coin. Under magnification, a faint strike-through (a hair or fiber on the die) scrolls through the right obverse field. Abrasions are very light but an old pin scratch crosses the lower beard to the rim at about 7 o'clock and a short scuff occurs in the field to right of the T of THOMAS. The portrait remains lustrous and otherwise unmarked, without any adjustment lines, and is thus truly exceptional. These handling effects are given here for the sake of accuracy and as an aid in tracking this coin in the future. They are doubtless the reason that PCGS did not assign a higher numerical grade to a coin which shows not a hint or rub or wear.

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Website Tips: MyConsignments

If you have consigned items with Heritage, you can keep up with them at "MyConsignments." This page can be reached from the MyHeritage tab on any Heritage web page, or directly from "MyBids" by clicking on the "MyConsignments" link.

When you first go to MyConsignments from the MyHeritage tab, you will see a listing of all auctions you have consigned to, whether recently closed, open for bidding, or opening for bidding soon. Click on any of the auction listings to see which of your items are included in the auction. You will see a listing of items broken down by lot number, if assigned, and each item will list the number of bidders, the number of trackers, the number of page views, and the current bid as listed on the website.

If the auction has closed, you will see a listing of your lots, along with your reserve, if any, and either a final hammer price or a notation of whether the coin sold or not.

If the auction is open for bidding, you will see the current bid level on your lots. If reserves have been entered for your lots, they will also show on this screen. If the reserve has been exceeded, the current bid will show in green, while if no bidders have yet met the reserve the current bid will appear in red.

If the auction isn't open for bidding yet, you can get a complete listing of items assigned to the auction, with links to the descriptions of the items and images, if available.

Please note that the majority of all serious bids are made near the close of an auction, and therefore the current bids listed may not be a valuable gauge of how your consignment is performing. The current bids do not reflect the actual secret maximum bid of the bidder, but only represent the next increment over the second highest bid. In the case of Internet only auctions, you will see the bids come up dramatically during the last few hours of the auction. In the case of auctions with floor components, such as Signature auctions, the Internet bids may never approach the actual hammer price of your lots on the auction floor.

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This Week's Top Ten

The ten highest valued South African numismatic items to sell in Heritage auctions:

Republic Proof Penny 1892, KM2, Hern-Z1, PR65 RB NGC
Republic Proof Penny 1892, KM2, Hern-Z1, PR65 RB NGC
  1. Republic Proof Penny 1892, KM2, Hern-Z1, PR65 RB NGC. Realized $195,500
  2. George V bronze pattern Sovereign 1928-SA, reeded edge. Not listed in KM. Hern-U14A (unique). Matte PR64 NGC. Realized $184,000
  3. Republic Proof 5 Shillings 1892, KM8.2, Hern-Z36, Double Shaft, PR66 Cameo NGC. Realized $161,000
  4. George V Specimen Sixpence 1928, KM16.1 for type but an unlisted date, SP63 NGC. Realized $155,250
  5. Republic gold Pond 1874, Friedberg 1a, KM12, MS64 NGC, fine beard variety. Realized $97,750
  6. Republic gold Pond 1902, KM11, Friedberg 4, MS66 NGC. Realized $92,000
  7. Republic Proof 2.5 Shillings 1892, KM7, Hern-Z30 (est. 50 struck), PR65 Cameo PCGS. Realized $69,000
  8. Republic gold Veld Pond 1902, KM11, MS64 NGC. Realized $54,625
  9. George VI "Short" Proof Set 1939, 8 pieces, KM-PS14, Hern-P15. Realized $51,750
  10. George V gold Sovereign 1923-SA, KM-21, Spink-4004, Marsh-287, Hern-S338, MS66 Prooflike PCGS. Realized $49,937

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

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Coin Buyer Wanted - Dallas Office

Heritage Auctions is seeking talented numismatists with a broad range of expertise to join our Dallas office. If you have a good working knowledge base of U S. coins and currency and are comfortable dealing with the public, we have openings for permanent positions as a buyer. Duties will include dealing with walk-in clients, evaluating and purchasing coins and currency, working local coin shows, and accepting Auction consignments. Pay will be commensurate with numismatic experience.

If you are interested in this position, please contact Jobs@HA.com.

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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 Nature & Science 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:

  • Asian Art Specialist
  • Classic Cars Specialist
  • Coin Buyer
  • Decorative Arts & Design Specialist
  • European Art Specialist
  • Modern & Contemporary Art Specialist: (New York, Beverly Hills)
  • World Coins Director: Hong Kong

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:

  • Client Data Specialist part-time
  • Client Services Representative
  • Currency Cataloger
  • Currency Consignment Director
  • e-Publishing Expert
  • Graphic Designer
  • Housekeeping
  • Interns
  • Maintenance Assistant
  • Shipping Associate
  • Web Marketing Specialist

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

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Around Heritage Auctions

Renoir's Personal Effects And Sculpture Offered

Pierre-Auguste Renoir: Grande Venus victorieuse (Large Venus Victorious), 1914-15
The single largest archive of Pierre-Auguste Renoir's personally-owned objects — from his signature polka-dot scarf to the original plaster maquette of La Grande Venus Victrix, recently discovered in a shed in France — will highlight an expansive grouping dedicated to the Impressionist icon in Heritage Auctions' The Renoir Estate Collection Signature® Auction, Sept. 19 in New York.

The collection is an intimate glimpse inside the personal and professional life of the master painter through a trove of important documents, including his marriage certificate, photographs and letters written to Renoir from friends and contemporaries such as Monet, Manet, and Rodin.

The collection also features a selection of original sculptural plaster maquettes created at Renoir's estate in Cagnes, France, in the twilight of his career. Battling severe arthritis, Renoir collaborated with a young and able-handed artist, Richard Guino, at his dealer Ambroise Vollard's suggestion.

Together, Renoir and Guino selected which drawings and paintings would work as sculptures, and they set to work. Included among the sculptural offerings is likely the auction's top lot — a 72 inch tall original plaster maquette for La Grande Venus Victrix, the Roman goddess.

"This museum-level collection is superb in its completeness and reveals volumes about the man and his art," said Brian Roughton, Managing Director of Fine Art at Heritage Auctions. "It touches every corner of his life and represents the last time this collection will appear assembled ever again. In addition to the personal letters and objects, we're also thrilled to have the opportunity to offer 20 carefully collected original plaster maquettes, not as vehicles to make bronzes but rather as individual works of art which stand on their own artistic merit."

Pierre-Auguste Renoir: Coco
Among the maquettes, Heritage is offering "Coco," one of the only plaster maquettes that Renoir produced himself, depicting his young son Claude.

The staggering amount of life documents, awards and ephemera includes rarities such as an American Medal of Honor awarded to Renoir at the 1883 Foreign Exhibition and an album of candid family photographs featuring Henri Matisse among other notable artists of the day.

The archive also includes rarely seen objects likely made for the artist's eyes only, such as a diminutive polychrome ceramic vase and sugar bowl thrown and painted with his son, Jean, at Les Collettes as Jean recuperated from War injuries at Les Collettes.

More information about Fine & Decorative Art auctions.

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2013 Year of the Farmer Art Auction Benefiting the National FFA Organization

2013 Year of the Farmer Art AuctionThe 2013 Year of the Farmer Art Auction is brought to you by Case IH along with our Ram Brand partnership to support the National FFA Organization. Paintjam artist, Dan Dunn, created four "The Future Farmer" paintings live at the Case IH arena show experience at Farm Progress 2013, the nation's largest Outdoor Farm Show. The paintings are inspired by one of the images featured in the 2013 Ram Brand Super Bowl commercial, "So God Made a Farmer" to honor America's farmers.

The four paintings will be offered in an online auction, HA.com/FFA, opening August 26, 2013 10PM and closing September 30, 2013. For more information about the auction, contact Jeri Carroll at 214-409-1873 or JeriC@HA.com.

About National FFA Organization: "Future Farmers of America" was founded by a group of young farmers back in 1928. Their mission was to prepare future generations for the challenges of feeding a growing population. They taught us that agriculture is more than planting and harvesting — it's a science, it's a business and it's an art.

FFA continues to help the next generation rise up to meet those challenges by helping its members to develop their own unique talents and explore their interests in a broad range of career pathways. So today, we are still the Future Farmers of America. But, we are the Future Biologists, Future Chemists, Future Veterinarians, Future Engineers and Future Entrepreneurs of America, too.

More information about charity auctions.

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Instant Quiz

1. What was the first year of the Classic Head half eagle?
       A) 1808
       B) 1829
       C) 1831
       D) 1834
       E) 1839

2. Which dates of Walking Liberty half dollars are commonly referred to as "The Short Set"?
       A) 1916-1917
       B) 1916-1933
       C) 1934-1947
       D) 1941-1945
       E) 1941-1947

Last week's question:

1. What is the copper content of the Flying Eagle cent?
Correct Answer: C) 88% (34%).

2. What was the date of the first US coin to bear the W mintmark for the West Point mint?
Correct Answer: D) 1984 (21%).

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Is it Time to Sell?
1943 cent copper
1944 cent steel
Your next consignment opportunity for US coins is our 2013 November 1 - 3 US Coin Signature Auction in New York. Take advantage of Heritage's unparalleled marketing reach and expose your coins to the largest possible buyer base — over 800,000 bidder members on site in New York and throughout the world at HA.com.

The September 18 consignment deadline will be here before you know it, so call our Consignment Hotline at 1-800-872-6467 x1000 today!

2013 November 1 - 3 US Coin Signature Auction - New York
Consignment Deadline: September 18, 2013

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

Interested in Selling?
What's My Coin Worth?
Consign to a Heritage Auction

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Current Auctions
Coin Auctions
Sunday Internet Coin Auction Sunday Internet Coin Auction #131335
Closes August 25
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Tuesday Internet Coin Auction Tuesday Internet Coin Auction #131335
Closes August 27
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Thursday Modern Coin Auction Thursday Modern Coin Auction #241335
Closes August 29
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Weekly World Coin Auction Weekly World Coin Auction #231335
Closes August 29
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Currency Auctions
Tuesday Internet Currency Auction Tuesday Internet Currency Auction #141335
Closes August 27
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Signature Auctions
September 19 The Unknown Renoir: The Man, The Husband, The Father, The Artist Signature Auction - New York #5157 September 19 The Unknown Renoir: The Man, The Husband, The Father, The Artist Signature Auction - New York #5157
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September 23 Fine Jewelry & Luxury Accessories Signature Auction - Beverly Hills #5160 September 23 Fine Jewelry & Luxury Accessories Signature Auction - Beverly Hills #5160
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Other Internet Auctions
Sunday Internet Comics Auction Sunday Internet Comics Auction #121334
Closes August 25
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Sunday Internet Sports Collectibles Auction Sunday Internet Sports Collectibles Auction #151334
Closes August 25
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Sunday Internet Movie Poster Auction Sunday Internet Movie Poster Auction #161334
Closes August 25
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Tuesday Internet Watch & Jewelry Auction Tuesday Internet Watch & Jewelry Auction #171335
Closes August 27
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Weekly Internet Luxury Accessory Auction Weekly Internet Luxury Accessory Auction #251335
Closes August 27
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Weekly Internet Rare Books and Autographs Auction Weekly Internet Rare Books and Autographs Auction #201335
Closes August 29
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