Heritage Numismatic Auctions Sets Records in Long Beach $5.6 Million Signature and Bullet Sell-Through Includes Highest Price Ever Paid For a Small Cent

Dallas, TX -- The official auction of the June 2002 Long Beach Coin Expo, Heritage’s three-day, 2,648 lot Signature Sale amounted to $4,916,390 in prices realized. 1,646 bidders participated, 552 of who were successful. 2,311 of the lots sold. The Bullet auction brought in another $685,00 with 411 successful bidders purchasing 1,962 lots.

According to Heritage’s Director of Auctions Bob Korver, “We witnessed some truly spectacular floor bidding for our recent Long Beach Signature Sale. We registered 230 floor bidders, one of whom accounted for the single highest realized price in the sale, and the highest price ever paid at auction for a U.S. Flying Eagle, Indian, or Lincoln Cent. The coin in question is a PR64 Red PCGS 1864 L on Ribbon Indian Cent that sold as lot 5202 in the Alex Highland Collection (http://www.heritagecoin.com/hnaiphoto300.asp?292067001). We opened bidding on this coin at $56,000, and when the gavel finally fell, the realized price had soared to $138,000, or 230% of the current Coin Dealer Newsletter (CDN, commonly referred to as the “Greysheet”) bid of $60,000. According to the cataloger, this coin is one of only 16 examples believed extant from a paltry original mintage of 20 pieces.”

“An 1873 Open 3 Two Cent Piece in PR66 Red PCGS also realized an impressive price,” continued Korver. “Based on our records, the final price of $26,450 is a world record for the issue.”

“There were several world records set at our June Long Beach Signature Sale,” noted Heritage Executive VP Greg Rohan. “In addition to the 1873 Open 3 Two Cent Piece that brought more than $26,000, an MS65 PCGS representative of the 1914/3 Buffalo Nickel (http://www.heritagecoin.com/hnaiphoto300.asp?292120001) traded hands on the auction floor for $63,250, about eight times our consignor’s presale expectation! Needless to say, he was thrilled. And a 1921 Peace Dollar MS67 PCGS from the David Hall Collection also broke the previous auction record for that issue when a bidder paid $24,150.”

Opined Korver: “Originally toned Silver Commemoratives are among the hottest coins at auction these days. It seems that tab toning is now the desired indicator of originality among this popular and widely collected series. Take, for example, the 1938 Roanoke Half Dollar graded MS66 by PCGS that we sold as lot 7467 in Long Beach (http://www.heritagecoin.com/hnaiphoto300.asp?292097005). That coin realized an amazing $17,825, or 7,280% of the current CDN bid of $245.”

For a complete list of prices realized in the June 2002 Long Beach Signature Sale, visit the Heritage website at http://www.HeritageCoin.com

Additional Highlights
1856 Flying Eagle Cent MS65 PCGS, realized $43,125.
1858/7 Flying Eagle Cent MS64 PCGS, realized $25,875.
1926-S Buffalo Nickel MS64 PCGS, realized $17,250.
1860 Seated Half Dollar MS67 PCGS, realized $29,900.
1954-D Franklin Half Dollar MS67 Full Bell Lines PCGS, realized $21,275.
1800 Capped Bust Right Eagle MS63 NGC, realized $33,350.
1906 Liberty Eagle MS67 PCGS, realized $33,350.
1907 High Relief Saint-Gaudens Double Eagle MS66 PCGS, realized $41,400.