Strong Convention Attendance Results in Strong Auction Performance at Central States

Dallas, Texas: Conducted in four sessions on May 4-5, 2000, Heritage's Central States Signature Sale recorded total prices realized in excess of $4.1 million. "We are extremely satisfied with the results of this sale," noted Bob Korver, Director of Heritage Numismatic Auctions, Inc. "Our sale was the official auction of the Central States Numismatic Society's spring 2000 convention. As such, only Heritage could bring its consignors' coins to Minneapolis, and the privilege paid handsome dividends for our customers."

Heritage's Interactive Website™ once again attracted a considerable number of bidders to the CSNS Sale. Said Heritage Co-Chairman Jim Halperin: "Given the ease of bidding online in a Heritage auction, it is little wonder that 56% of the bidders in the CSNS Signature Sale were Internet bidders. These customers purchased a not insignificant $890,000. I suspect that Heritage's innovative Interactive Catalogdisk™ had a lot to do with this success. We have made it even easier for customers to download our catalog descriptions, detailed archival data, and award-wining photography. With features such as these, the number of Internet bidders can only grow in successive sales."

The driving force behind the success of the CSNS Signature Sale was, however, the spirited floor bidding. "The convention in general was a stunning success," stated Greg Rohan, Heritage's Executive Vice President. "I witnessed strong trading throughout the convention that transcended the entire numismatic spectrum. And, judging by the prices realized, the movers and shakers of the bourse floor continued their frantic purchasing as floor bidders in our Signature Sale." When the sale closed late Friday night, May 5, floor bidders purchased 64% of the lots sold for total prices realized of nearly $2.7 million.

Among the strongest performers in the second part of the Indiana Collection of type coins was an elusive 1859 Seated dollar graded MS 64 by NGC. The gavel fell at $8,912.50 for this richly toned example. No less impressive was the sum of $4,312.50 paid for an 1857 Seated quarter MS 65 PCGS, a figure that represents 33% more than the issue's Coin Dealer Newsletter (commonly referred to as the "Greysheet") bid. An 1867 Seated half PR 65 PCGS realized $3,680; and one of the finest certified 1897 Barber half dollars, an NGC MS 66 example, traded hands for $2,300.

Anchored by the exquisite Palm Beach Collection, Heritage's currency offerings at Central States resulted in some spectacular sales. The leader of the pack was a Crisp Uncirculated 1880 $50 Legal Tender Note, Fr-161, that sold for a stunning $19,550. Equally noteworthy was the sum of $8,912.50 that a bidder paid for a scarce 1890 $20 Treasury Note, Fr-372, in XF; and a desirable 1882 $500 Gold Certificate, Fr-1216b required a price of $8,625. The condition of the latter note was described as Fine in the catalog.

The William Burdick Collection was the pride of a collector who specialized in both rarity and technical quality. Needless to say, this combination proved too tantalizing for bidders to overlook. An originally toned 1795 Flowing Hair, Three Leaves silver dollar VF 35 PCGS brought $5,290, a previously underrated 1796 eagle that PCGS certified in AU 53 elicited the impressive price of $24,150, and a key date MS 63 NGC 1929 Saint-Gaudens double eagle sold for $13,225.

Morgan dollars, a perennial favorite of collectors, dealers, and investors alike, had their day in the shade at Central States, due in large measure to the Carol June Johnson Collection. Take for example the popular 1885-CC issue, an MS 67 PCGS representative of which required a strong price of $3,795. A low mintage MS 65 PCGS 1893 traded hands for $5,175, and a conditionally rare 1901-S MS 65 PCGS brought $2,530.

Heritage's minor coin offerings at Central States resulted in, among other impressive prices realized, the sale of a 1788 Connecticut Copper AU 55 PCGS for $10,350. The coin had been attributed as an example of the rare Breen-873 variety with a single obverse period after the last C in CONNEC. Both sides of this important example were boldly double struck.

The gold selections at Central States turned in strong performances. A prized near-Gem 1854 Type Two gold dollar realized $17,250, a lovely Select BU 1798 Large Eagle five dollar gold piece traded hands for $34,500, and a low mintage 1869 half eagle from the Bass Collection reached its peak at $22,425. The latter coin was in an NGC MS 64 holder. The leaders of the higher denominations included an AU 58 NGC 1865-S eagle rarity that sold for $13,800, a key MS 63 PCGS 1911-D Indian eagle whose realized price was $16,100, the single finest certified (MS 63 NGC) 1876-CC Liberty double eagle that brought $17,250, and a gorgeous Gem 1907 High Relief Saint-Gaudens that held the gavel high until the bidders had reached $24,150.

Proof delicacies in the U.S. gold offerings were spearheaded by a seldom offered 1875 Liberty eagle PR 64 PCGS from the Trompeter Collection and an 1879 Liberty double eagle PR 66 Cameo NGC with the same pedigree. The former coin required the sum of $82,800, while the latter piece realized $83,375.

Heritage's Central States Bullet Auction was conducted in a single session on Saturday, May 6. The sale realized $350,700 with floor bidders purchasing the lion's share (56%) of the lots sold. Internet bidders took home 35% of the lots sold.

More information on consigning to upcoming auctions can be obtained by contacting the Heritage Consignor Hotline at 1-800-US COINS (800-872-6467) Ext. 222.