July U.S. Coin Auction Surpasses $17.9 Million
A 1907 Rolled Rim Ten Dollar MS66 PCGS sold for $810,000 to run Heritage Auctions’ Long Beach Expo/Summer FUN US Coins Signature® Auction at $17,958,884 from July 14-17.
The auction was a virtual sale in all respects, generating sell-through rates of over 99.9% in both value and lots sold for the event which attracted 3,686 global bidders seeking 1,921 lots.
The top lot, from The Cody Brady Collection Part IV, is exceptionally rare. The magnificent specimen is one of only 13 rated 66 (two of which are 66+), and there are only four with higher ratings.
“This is a beautiful and rare piece, rarer than all Indian Eagle series issues except 1933, and is prized by model collectors and series specialists alike,” says Mark Van Winkle, chief cataloger at Heritage Auctions. “The 1907 Rolled Rim Ten is part of a surviving population estimated by PCGS CoinFacts at only 40-42 coins, but of these, most belong to the MS63-MS65 range. Two Rolled Rim examples are included in the National Numismatic Collection of the Smithsonian Institution, and two others are in the collection of the American Numismatic Society.”
The Rolled Rim Ten took first place, but the event performed well across the board, with 18 lots bringing in six-figure results, including two – one 1943 Minted Cent on Bronze Plate AU50 PCGS and one 1907 Wire Rim Ten Dollar MS67 PCGS – that each drew a winning bid of $336,000.
The 1943 Lincoln cent has been called the most famous and sought after error coin of all time. Hundreds of millions were minted each year, but when copper was needed for the World War II war effort for ammunition shell casings, 1943 cents were minted in zinc-plated steel. This hitherto unknown example was among a few bronze planks that got stuck in tote bins in late 1942, only to be dislodged and fed into the presses, emerging in 1943 in a zinc-plated steel penny bin . Demand has increased, and not just because of scarcity. Rumors – which ultimately proved untrue – surfaced nationwide in the late 1940s that Henry Ford would give a new car to anyone who found a 1943 “copper” cent. not making such a claim was irrelevant, as the perceived promise of a free car caused interest to skyrocket.
Like the Rolled Rim Ten at the top of the sale, the Wire Rim Ten is also part of The Cody Brady Collection Part IV. Augustus Saint-Gaudens’ first design for the 1907 Indian Eagle featured a metallic border (rather than the traditional border) around the circumference of the coin in a design much admired by President Theodore Roosevelt. Only 500 specimens were minted, and 42 more were produced later. Of these 542 pieces, 70 were subsequently melted down, leaving a total net production of 472 pieces. But the Wire Rim made it difficult to stack coins for counting purposes, and it was feared that the rim would wear out quickly, resulting in underweight coins. Chief Engraver Charles Barber modified the design to include a more practical rolled rim in September and the metal rim design was soon abandoned.
An important and historical rarity from the Allan H. Goldman collection, a 1854-S Liberty Quarter Eagle VF25 NGC sold for $288,000. It is one of only 246 coins minted, making it one of the rarest gold coins ever issued – so rare that PCGS CoinFacts estimates there are only 11 or 12 left in the world. any rank, and one of them is in the Smithsonian’s National Numismatic Collection, and will never end up in a private collection.
Another beauty from the Cody Brady Collection Part IV, a 1930-S Eagle MS66 PCGS. CAC attracted a winning bid of $264,000. Only one copy, from the Duckor and O’Neal collections, was rated finer (MS67) by PCGS. The fact that the Indian Head ten dollar gold coin claimed one of the lowest mintages in the series – only 96,000 were minted – would be reason enough for the high demand from collectors. But what makes this late key popular with serious collectors is its melted rarity status – it’s estimated that up to 95,000 were melted after the 1933 gold recall. Only 150-200 1930 eagles are believed -S survive today in all grades, and of these all but about 10 are in mint condition.
Also from the Allan H. Goldman collection, an exceptional piece 1841 Quarter Eagle PR50 NGC. JD-1, R.6 high, one of the rarest issues of any US coin, closed at $228,000. Mint records show that no 1841 P mint quarter eagle was produced as proof or traffic strike, but “The Little Princess”, as it is called, does in fact exist. PCGS recognizes both evidence and circulation strikes, while NGC only recognizes 1841 quarter eagles as evidence. Heritage Auctions has only confirmed 16 examples, including one that was reported stolen many years ago and has not been seen since. Three others reside in institutional collections, unavailable for public or private sale.
A 1804 Eagle Crosslet 4, BD-1, R.4 high, MS63 NGC and one 1907 Double Eagle High Relief, Flat Edge, MS66+ PCGS. CAC each ended at $216,000. The 1804 Eagle is one of four MS63 specimens at NGC (with one thinner) while PCGS has certified one as MS63+ (with one thinner, at MS64). This beauty racked up 72 bids before reaching her final result.
Other top bundles included, but not limited to:
- A 1925-S Twin Eagle MS65 NGC: $180,000
- A 1879 Flowing Hair Stella, Judd-1635, Pollock-1833, JD-1, R.3, PR63 Cameo PCGS. CAC: $162,000
- A 1849 Dollar PR66 PCGS. CAC. OC-P-1: $156,000
- A 1875 Half Eagle PR64 PCGS. JD-1, Weak R.7: $144,000
- A 1834 Quarter Eagle Capped Bust, BD-1, R.6, AU55 PCGS: $144,000
- A 1851-O Half Eagle MS64 PCGS. CAC. Variety 2: $144,000
Full results are available at HA.com/1347.
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