Heritage November US Coin Auction Makes $ 11.4 Million
From November 11 to 14, the Heritage Auctions SignatureÂ® American Coins Auction was full of numismatic must-haves, from the first American coins to the wonders of the Old West to modern wonders. Collectors reacted accordingly: More than 3,000 bidders spent $ 11,432,236 during the nearly full four-day event, setting a world record and exceeding expectations on numerous occasions.
In fact, on the very first night of the event, a fierce bidding war drove the final price of an 1870 gold coin to a world record, while a Liberty 1870-CC $ 20 from the Prestwick collection sold for $ 1,620,000. This should come as no surprise, as Carson City’s gold is well known as an avidly collected estate of American numismatics – and the $ 20 Liberty that sold on Thursday is one of the few survivors of the 3,789 that are believed to have been hit. And, rated AU53, it is the best certified at PCGS.
But that wasn’t the only one catching the attention of collectors: at the auction, two other Carson City gold coins from the same collection also sold for far more than expected.
One of them, a $ 20 Double Eagle 1872-CC, made $ 144,000. Unlike the $ 20 1870-CC Liberty, the 1872-CC is not a legendary rarity; it comes from a print run of 26,900 pieces. Its high price can be attributed to the fact that it is graded NGC MS61, and there are only two certified thinner pieces.
An 1877-CC Liberty Double Eagle, rated MS62, also sold for $ 144,000 and is highly regarded as a rare Carson City date; this piece is also tied for best certified, making it a valuable addition to a collection. It is also a historical piece, as the design of the double eagle was changed slightly in 1877: it actually wrote “TWENTY DOLLARS”, replacing the “TWENTY D”. presented previously. This new design, known as the Double Eagle Type 3 Liberty to collectors today, represents the only major change in the design of the American gold coin that took place during the years when the Carson City Mint was operational.
But not all of the Prestwick and Carson City collection that shone in this auction was gold: an 1875 CC 20-cent coin, rated MS66, sold for $ 84,000. The 20-cent denomination was not well received when minted – in part because it looked a lot like a quarter dollar – and some of the coins were held by the mint until they were finally melted down. in May 1877 by order of the director of the Mint. But time heals all wounds, as evidenced by the popularity of this rarity in this auction.
“The Carson City coin market continues to be very active, particularly for rare dates or premium copies,” said Sarah Miller, senior vice president of Heritage Auctions and deputy general manager of the office. from New York. âThe $ 20 CC in particular led the charge with a strong bidding, as all three of these Prestwick Collection offerings exceeded expected levels to find new homes with avid collectors. “
Two early proof coins also sold well above expectations ahead of the auction. Both coins date to the mid-1800s, making them exceptionally rare, as proof coins were not regularly issued by US mint until around 1860.
One, an 1846 Liberty Seated Quarter graduated PR64, sold for $ 21,000. No print run figures were recorded for this 1846 print, but the production total was undoubtedly small – so small, in fact, that seated neighborhood scholar Larry Briggs estimates that only 10 to 12 specimens survived , while PCGS CoinFacts estimates an even smaller population of 8 – 10 examples, across all classes. Heritage catalogers have traced 13 pieces that we believe are different examples, including one in the Smithsonian Institution’s National Numismatic Collection.
And an 1855 Arrows Dime, rated PR64, grossed $ 16,800, which matches its status as a rare cameo example. This one is also extremely rare in all classes: PCGS CoinFacts estimates the surviving population at 15-20 examples.
Bids, too, from the earliest days of the United States Mint proved popular at this auction, among them a 1796 Draped Bust Dime graduated MS63 which is one of only two known coins minted from the state of the terminal matrix with a triangular cud on the first T in “STATES”. This renowned piece – which belongs to the Dr George P. French, T. James Clarke, Lester Merkin, John Walter Whitney and Eugene Gardner collections – sold for $ 43,200.
Modern offerings have also flourished among the Colonial and Old West pieces offered last weekend. This included a 1964-D / D Jefferson Nickel which typically sells for under $ 10â¦ the cherry pickers variety. It is a high-end, shiny and attractive example. PCGS has awarded only six copies of this variety in all grades.
âWe were very pleased to see the level of collector participation in this auction at all levels,â Miller said. “The history of this country is uniquely told through its coins, and Heritage Auctions is proud, as always, to present these momentous offers to collectors keen to own a piece of this history.”
About Heritage Auctions.
Heritage Auctions is the largest art and collectibles auction house founded in the United States, and the largest collectors’ auctioneer in the world. Heritage has offices in New York, Dallas, Beverly Hills, Chicago, Palm Beach, London, Paris, Geneva, Amsterdam and Hong Kong.