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In This Issue:
US Coin Auction Raises Nearly $9 Million For The Bently Foundation
Seldom Seen Selections: Second-Finest Certified 1850 Dubosq & Co. Ten Dollar Gold Piece
Website Tips: Date Ranges
This Week's Top Ten
CSNS Lot Viewing in Conjunction with NGC Invitational
U.S. Coin Cataloger Wanted
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

March 29, 2014
Newsletter Archive
Last Issue
US Coin Auction Raises Nearly $9 Million For The Bently Foundation
1927-D $20 MS63 PCGS
1927-D $20 MS63 PCGS
A legendary 1927-D double eagle, the rarest coin ever minted in Denver and the absolute key among circulation issue Saint-Gaudens double eagle, realized $1,292,500, to lead the way in Heritage's March 20 auction of The Bently Collection in San Francisco, on the way to raising nearly $8.9 million overall.

"Proceeds from this auction are going directly to the Bently Foundation," said Greg Rohan, President of Heritage. "Christopher Bently established this foundation to honor his father's philanthropic spirit and as a means to support the arts, environmental sustainability and animal welfare in communities in Northern California and Nevada."

The 1927-D double eagle is both the rarest regular issue 20th century coin and the rarest coin minted at the Denver Mint. Only seven times has an example crossed Heritage's auction block, and only seven examples are known to be available to collectors. Given the rarity of the coin and the popularity of the Saint-Gaudens double eagle series, we expected high demand for this coin, and it did not disappoint.

The Bently Foundation's emphasis on Northern California and Nevada covers an area that encompasses two present and past US mints along with far more than its share of numismatic history. The fabled Carson City Mint has produced more than its share of rarities, such as the 1870-CC double eagle, considered the fifth rarest issue in the Liberty double eagle series behind the ultra-low mintage 1882 and 1886 circulation issues, the 1856-O, and the nearly uncollectible 1861 Paquet reverse coin struck in Philadelphia.

1870-CC $20 AU53 PCGS. Variety 1-A 1870-CC $20 AU53 PCGS. Variety 1-A
No 1870-CC double eagles have ever been certified in Mint State grades by any major grading service, making high quality AU examples that much more desirable, with the Carson City mintmark only adding to the coin's allure. The Bently specimen is graded AU53 by PCGS, and is likely one of the five finest specimens known. It sold for $411,250. Chief among the territorial issues represented in this auction was an octagonal $50 piece with lettered edge struck by US Assayer Augustus Humbert in 1851. Seldom seen in Mint State, the finest example from the Bently Collection was graded MS60 by PCGS and sold for $282,000.

Rarities from the San Francisco Mint were also well-represented in this auction, including a 1930-S double eagle MS65 PCGS which sold for $176,381, an 1854-S quarter eagle Good 6 PCGS selling for $193,875, an 1878-S half dollar MS63 PCGS at $129,250 and an 1864-S eagle AU53 NGC, which brought $146,875.

Additional highlights of this auction included:

1851 $50 LE Humbert Fifty Dollar, Lettered Edge, 880 Thous. MS60 PCGS. K-2, R.5 1851 $50 LE Humbert Fifty Dollar, Lettered Edge, 880 Thous. MS60 PCGS. K-2, R.5
1878-S 50C MS63 PCGS 1878-S 50C MS63 PCGS
Bidding on coin auctions continues at HA.com/Coins, with the April 10-12 & 15-16 CICF World and Ancient Coins Signature Auction in Chicago already open for bidding and the April 23 - 27 CSNS US Coin Signature Auction, also in Chicago, due to open for bidding very soon.

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Seldom Seen Selections: Second-Finest Certified 1850 Dubosq & Co. Ten Dollar Gold Piece
1850 $10 Dubosq & Co. Ten Dollar MS60 NGC. K-2, R.7
1850 $10 Dubosq & Co. Ten Dollar MS60 NGC. K-2, R.7
The 1850 Dubosq & Co. ten dollar gold piece is one of the most elusive issues in the Territorial gold series. In his 1909 publication Official Premium List of United States Private and Territorial Gold Coins, Edgar Adams noted only two examples were known. As late as 1981, Donald Kagin rated the Dubosq ten dollar gold piece a High R.7 issue, meaning he was aware of 4-6 specimens in all grades. A few more have been discovered since, including one in the S.S. Central America, another found by a treasure hunter in Placerville, California, and the present coin. This piece was found by Allen Pankey, of Breckinridge, Colorado in the San Francisco Bay area in 1986 with the aid of a metal detector.

Even with the recent finds, only eight coins are extant in all grades, with two examples in institutional collections and the status of one coin unknown since its theft in 1967. Heritage Auctions is privileged to offer the second-finest certified example of this rare Pioneer gold issue, graded MS60 by NGC, in just its second auction appearance at the April 23 - 27 CSNS US Coin Signature Auction in Chicago.

The firm of Dubosq and Co. was founded by Theodore Dubosq, a Philadelphia jeweler, and his family in 1849. Apparently, the Dubosqs came to California for the express purpose of starting a private mint. They arrived in California on May 18, 1849, but they may not have set up business operations right away, despite the dire need for circulating coinage in the local economy. No 1849-dated coins are known with the Dubosq name, but a few pattern quarter eagles and half eagles in copper exist, so it is possible that gold coins were struck, but none have survived. The only surviving gold coins from Dubosq & Co. are the very rare 1850-dated five and ten dollar pieces.

Edgar Adams believed Dubosq engraved the dies for the 1849 patterns himself, but there is much speculation that the 1850-dated coins were struck from dies engraved by James B. Longacre, Chief Engraver at the Philadelphia Mint. The design elements on the 1850 five and ten dollar Dubosq coinage closely resemble the motifs used for regular-issue federal coinage of that time, and a pair of Dubosq patterns were found in Longacre's estate, corroborating this theory. However, the 1849 copper patterns do not look at all like the 1850 gold issues, so it seems unlikely that Longacre engraved the 1849 dies. The case for Longacre engraving the 1850 dies is much stronger, and Donald Kagin accepted it in his Private Gold Coins and Patterns of the United States. However, when Kagin's offered the present coin in the 1986 ANA Convention sale, the cataloger thought it more likely that Albert Kuner engraved, or at least reengraved, the obverse.

Whoever engraved the ten dollar dies, they were certainly well-made and durable. They were apparently used to strike all the Dubosq ten dollar coins in 1850 and 1851 (without changing the date), and then sold to Wass, Molitor & Co. for use on that firm's 1852 ten dollar coinage. A careful comparison of the 1850 Dubosq ten dollar obverse, K-2, with that of the 1852 Wass, Molitor ten dollar gold piece, K-3, reveals the following similarities:

  1. The placement of the stars and their orientation in relation to the dentils and the bust are an exact match.
  2. The placement of the first three numerals of the date also match.
  3. The contours of the hair, coronet, and facial features are identical.
  4. Both coins show 210 dentils on the obverse.
It would be virtually impossible to duplicate all these features so closely with the technology the California minters had at their disposal in the early 1850s. Kagin noted the final digit in the date had been drilled out and replaced by a 2, but he theorized that Wass, Molitor & Co. had prepared the die in late 1851 and had not used it that year, making it necessary to alter the date for 1852 coinage. It now seems more likely that it was the 0 in the Dubosq ten dollar die that was drilled out and replaced. Of course, the inscription on the coronet was extensively reworked. Remnants of the U and S of DUBOSQ are barely visible in the area of the first and second periods on the W.M. & Co. inscription. The Wass, Molitor coins have always been known for their weak strike, but the extensive reworking of the die probably accounts for much of the incomplete detail. Kagin noted that the reverse dies for the Dubosq ten dollar coins were also used by Wass, Molitor & Co., but we believe this is the first time the reworking and later use of the obverse has been noted.

Dubosq formed a partnership with a man named Goodwin in 1850, and it is likely that the firm began issuing gold coins at that time. Judging by later reports, their output must have been prodigious during this period. The San Francisco Alta California reported that Dubosq & Co. struck $150,000 face value in gold coins during the first three months of 1851. Either the firm was still using the 1850-dated dies, or the entire mintage from this period was later destroyed, because no 1851-dated coins of any denomination are known today.

Seven ten dollar coins and three five dollar pieces were assayed by Augustus Humbert, at the behest of James King of William, on March 21, 1851. The ten dollar pieces were found to contain on average $9.93 worth of gold and the five dollar coins had an intrinsic value of $4.96. Dubosq claimed the small difference in face verses intrinsic value was made up by the inclusion of silver alloy in each coin, which Humbert failed to evaluate in his assay. Even though the results of the assay were much better than those for many other firms, Dubosq & Co. was tarred with the same brush as the other private mints. The exact date when the firm stopped operations is not known, but the discredited coinage, which had circulated widely, was soon turned in for recoinage and the Dubosq coins became extremely elusive at an early date.

The first auction appearance of a Dubosq ten dollar gold piece was not until 1929, in lot 1357 of Thomas Elder's Dr. George Alfred Lawrence Collection. The lot realized $3,900, a staggering price at the time, when the average car cost $425 and the median price for a single family dwelling was $7,882. PCGS has certified only four examples, the finest in AU50, while NGC has graded just two coins, this specimen in MS60 and another in MS61.

The coin we are offering is an attractive Mint State example, with sharply detailed design elements that show full star radials and just a touch of softness on the hair above the ear. The pleasing yellow-gold surfaces retain much of their original mint luster and show a scattering of minor contact marks. A shallow scratch between stars 10 and 11 and some light pinscratches in the left obverse field act as pedigree markers. This coin has been off the market for almost 27 years, and it may be decades before a coin with this combination of absolute rarity, great historic interest, and high technical grade becomes available again for public offering.

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Website Tips: Date Ranges
Have you ever wanted to search for US coins in a particular date range — for instance, the short set of Walking Liberty Half Dollars (1941-47) or Type 2 Double Eagles (1866-76)? Now you can!

To search for a date range, go to the Refine Search area on the left side of the Heritage search results for coins. Look for "US Coin Year". Enter the date range you want to search for, click search, and you will see only coins from the date range you selected! To do a search for all coins after a date, put the earliest date of the range you want into the box, and to search for all coins before a certain date, just put the range end date into the second box.

Search for date range is not available for world coins at this time. We will be adding this feature for more of our categories as we get the chance.

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This Week's Top Ten
The ten highest valued coins to sell in Central States auctions:

1804 $1 Original PR62 NGC
1804 $1 Original PR62 NGC
  1. 1804 $1 Original PR62 NGC. Realized $3,737,500.
  2. 1913 5C Liberty PR63 PCGS. Realized $3,172,500.
  3. 1804 $1 Class III PR58 PCGS. Realized $2,300,000.
  4. 1792 H10C Judd-7, Pollock-7, R.4. SP67 PCGS. Realized $1,322,500.
  5. 1796 $1 Small Date, Small Letters MS65 NGC. CAC. B-2, BB-63. Realized $1,175,000.
  6. 1783 Nova Constellatio Pattern Quint, Silver, Type Two AU53 PCGS Secure. Realized $1,175,000.
  7. 1792 One Cent, Judd-1, MS61 Brown PCGS. Realized $1,150,000.
  8. 1852 $10 Humbert Ten Dollar MS68 NGC. CAC. Kagin-10. Realized $1,057,500.
  9. 1802 $1 PR65 Cameo PCGS. Realized $920,000.
  10. 1792 One Cent, Judd-1, MS61+ Brown NGC. Realized $822,500.
Do you have a suggestion for a future top ten list? Send it to us!

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CSNS Lot Viewing in Conjunction with NGC Invitational

Don't miss this special opportunity to view auctions lots from our upcoming CSNS Signature Auction #1204. The Signature as well as Platinum Night Session lots will be available for viewing in conjunction with the NGC Trade & Grade, held April 14th - 16th, 9:00 AM - 6:00 PM at our Dallas headquarters at 3500 Maple Ave; 17th Floor, Dallas, TX 75219.

Space is limited, so please call Roy Porras at 214-409-1295 or Royp@HA.com to reserve your seat.

We look forward to seeing you there.

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U.S. Coin Cataloger Wanted

Heritage Auctions is seeking a talented numismatist with broad expertise in U.S. coins to join our award-winning staff. If you have an extensive knowledge base of U.S. coins and have exceptional writing skills we have an opening as a cataloger. You can work with the most successful team of numismatists in the world. This is a full-time position based in our Dallas headquarters. Duties will include cataloging, evaluating and attribution of U.S. coins, assisting with catalog production, and contributing numismatic articles for newsletters and other publications.

If you are interested, please contact BrittM@HA.com.

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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
  • Coin Buyer
  • Modern & Contemporary Art Specialist: (New York)
  • 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
  • Consignment Coordinator
  • Currency Consignment Director
  • e-Publishing Expert
  • Fine Jewelry Cataloger
  • Interns
  • Jr. Photographer
  • Operations Assistant
  • PHP Web Developer
  • Web Content Specialist (part-time)
  • U.S. Coin Cataloger Needed
If you are interested in applying for one of these Corporate positions, please apply here.

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Around Heritage Auctions
Ansel Adams' Clearing Winter Storm And Moonrise, Hernandez, New Mexico Highlights New York Photography Auction

Ansel Adams: Clearing Winter Storm, Yosemite National Park, California
Ansel Adams' landmark Clearing Winter Storm, Yosemite National Park, California, 1944, acquired directly from the artist and held privately for 40 years, and his Moonrise, Hernandez, New Mexico, 1941, could sell for $30,000+ each in Heritage Auctions' April 5 Photographs Signature Auction held in New York. The auction is dominated by fresh-to-market images, ranging from a California collection devoted to images of Marilyn Monroe and Reflections of Childhood, a fine private New York collection examining children's distinct and poignant place in the world.

"This stands as the most strikingly dynamic photograph auction we've ever held," said Rachel Peart, Director for Photographs at Heritage. "The opportunity for collectors to finally secure rare works from as early as 1874 to the present day spans several private collections that have not been on the market in decades."

The auction includes two important works by Irving Penn: Still Life with Watermelon, New York, 1947, which could sell for $25,000+, and Picasso, Cannes, France, 1957, estimated at $50,000+.

Robert Silver: Marilyn Quad
Among the variety of photographs is a large and diverse selection of images relating to Marilyn Monroe, including the iconic Marilyn Monroe on Red Velvet, Pose #1, 1949, a circa 1990 dye-destruction initialed by Playboy publisher Hugh Hefner, which is estimated to sell for $5,000+; Marilyn in Dior, Vogue, 1962, by Bert Stern, estimated at $10,000+; and Robert Silver's evocative Marilyn Quad, 2008, a photomosaic on aluminum, estimated to sell for $20,000+.

The Cohen Collection, another rare and important private collection, is a thoughtful assemblage of the world's finest photographers, including numerous works by Adams, such as Moonrise and Aspens, Northern New Mexico, from Portfolio VII, 1958, which could sell for $20,000, and Brett Weston, including his Twenty Photographs Portfolio, 1970-1977, which could sell for $30,000+. The Cohen Collection also offers Two Forms, 1963 by Ruth Bernhard, an iconic image of the female form.

Diane Arbus: Boy Reading a Magazine, N.Y.C.
Providing a glimpse into humanity's past and its future, Reflections of Childhood, a private New York collection featuring famous artists' interpretation of youth, including Diane Arbus' Boy Reading a Magazine, N.Y.C., 1956, estimated at $6,000+ and Hendrik Kerstens' Naturel, November, 1999, estimated at $15,000+. The artist's poignant images of childhood is exemplified in Pieter Hugo's Abdulai Yahaya, Agbogbloshie Market, Accra, Ghana, 2010, and Untitled, 2004, by Angela Strassheim, both of which could sell for $10,000+ each. A special electronic catalog devoted to Reflections of Childhood may be accessed here.

More information about photographs auctions.

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"Doodle for Hunger" Online Auction Benefits St. Francis Food Pantries and Shelters

February 24 Doodle for Hunger Comic & Illustration Art Auction Benefiting St. Francis Food Pantries and Shelters #567
"Doodle for Hunger" is a fun online auction of signed original works of art by comic artists, celebrities, and illustrators.

The auction will benefit St. Francis Food Pantries and Shelters. St. Francis Food Pantries and Shelters supports a network of charitable programs that provide a broad range of services for those in need, including the provision of food, clothing, shelter, and related social services.

Highlights Include
Howard Stern
Howard Stern
Tim Conway
Tim Conway
Dick Van Dyke
Dick Van Dyke
Martin Sheen
Martin Sheen
Robert Englund
Robert Englund
Patrick Stewart
Patrick Stewart

The auction is offered on the internet only and will close April 14, 2014 10:00 PM CT. For more information, contact Stephanie O'Barr, 800-872-6467 ext. 1807 or StephanieO@HA.com.

More information about charity auctions.

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Instant Quiz

1. What is the name of the item depicted on the reverse of the Mercury Dime?
       A) Battleaxe
       B) Cord
       C) Fasces
       D) Quiver
       E) Sheath

2. What is the mintmark that appears on current coins minted in Berlin?
       A) A
       B) B
       C) D
       D) K
       E) M

Last week's question:

1. For how many years were circulation strike Kennedy half dollars minted in 90% silver?
Correct Answer: B) 1 (81%).

2. What is the mintmark for coins minted in Mexico City?
Correct Answer: D) Mo (34%).

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Is it Time to Sell?
Heritage is once again, proud to announce that they are the Official Auctioneer of the Long Beach Expo. Now in its 50th year, Long Beach has proven time and again to be the venue to choose when it is time to consign your collection. The market for numismatics remains solid, proven by the recent ANA Signature Auction held in Atlanta, GA showing total prices realized at nearly $15 million.

To consign to Heritage's Signature auction held during the Golden anniversary of this lauded convention, contact Heritage today to join in on this momentous event. The June Long Beach coin consignment deadline is April 22nd. Please call one of our Consignment Directors at 800-USCOINS (872-6467) ext. 1000 (Coins) or ext. 1001 (Currency) to begin your consignment experience.

June 5 - 8 LB Expo US Coins Signature Auction - Long Beach
Consignment Deadline: April 22, 2014

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 and Currency Auctions
April 10-12 & 15-16 CICF World and Ancient Coins Signature Auction - Chicago #3032
April 10-12 & 15-16 CICF World and Ancient Coins Signature Auction - Chicago #3032
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April 24 & 28 CSNS World Currency Signature Auction - Chicago #3525
April 24 & 28 CSNS World Currency Signature Auction - Chicago #3525
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Sunday Internet Coin Auction
Sunday Coins
March 30
Tuesday Internet Coin Auction
Tuesday Coins
April 1
Tuesday Internet Currency Auction
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Weekly World Coin Auction
Thursday World Coin
April 3
Monthly World and Ancient Coin Auction - Selections from the Eric P. Newman Collection
Monthly Selections from the
Eric P. Newman Collection

April 24
Signature Auctions
April 2 Rare Books Signature Auction - New York April 2 Rare Books Signature Auction - New York #6108
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April 3 Historical Manuscripts Signature Auction - New York April 3 Historical Manuscripts Signature Auction - New York #6113
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April 5 Photographs Signature Auction - New York April 5 Photographs Signature Auction - New York #5176
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April 8 Luxury Real Estate Signature Auction - Houston April 8 Luxury Real Estate Signature Auction - Houston #1150
View the Heritage Luxury Property Auction
April 9 Domain Names Signature Internet Auction - Dallas April 9 Domain Names Signature Internet Auction - Dallas #1119
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April 14 Doodle For Hunger Celebrity Art Auction #567 Benefiting St. Francis Food Pantries and Shelters April 14 Doodle For Hunger Celebrity Art Auction #567 Benefiting St. Francis Food Pantries and Shelters
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April 23 20th & 21st Century Design Auction - Dallas April 23 20th & 21st Century Design Auction - Dallas #5186
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April 29 Fine Jewelry Signature Auction - New York April 29 Fine Jewelry Signature Auction - New York #5178
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April 28 Spring Luxury Accessories Signature Auction - New York April 28 Spring Luxury Accessories Signature Auction - New York #5179
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Other Internet Auctions
Sunday Internet Comics Auction
Sunday Comics
March 30
Sunday Internet Movie Poster Auction
Sunday Poster
March 30
Sunday Internet Movie Poster Auction
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March 30
Tuesday Internet Watch & Jewelry Auction
Tuesday Jewelry
April 1
Weekly Internet Luxury Accessory Auction
Tuesday Luxury
April 1
Weekly Internet Rare Books and Autographs Auctions
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April 3
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