1804 silver dollar hits $1.8 million-Courtesy of Numistmatic News

 

 

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1804 silver dollar hits $1.8 million

Posted on August 21, 2014 by NMN

An 1804 silver dollar brought close to $2 million at the Stack’s Bowers Galleries auction held Aug. 8 at the American Numismatic Association World’s Fair of Money in Rosemont, Ill.

The Garrett Class III dollar, one of only 15 examples of the date known, is graded Proof-55 by Numismatic Guaranty Corp.

At the final gavel, the restrike brought $1,880,000.

Obverse of the 1804 Class III silver dollar that was sold at the auction for $1,880,000.

Reverse of the 1804 Class III silver dollar that was sold at the auction for $1,880,000.

“This is one of my favorite coins,” said noted numismatist Q. David Bowers. “When I cataloged it for sale in The Garrett Collection back in 1980, it brought $400,000, which was then a world record. It was nice to see it again!”

A 1795 Flowing Hair silver dollar from The Lord St. Oswald Sale held in London in 1964, graded Specimen-64 by NGC, also drew a lot of attention and sold for $822,500.

A special consignment of Peace dollar trials also realized impressive results. Formerly owned by Mint Director Raymond T. Baker, whose tenure spanned the design and initial production of the Peace dollar, these coins document an important part of the creation of this beautiful silver dollar series.

“We are extremely proud to report that these Peace dollar trials significantly exceeded our pre-sale estimates,” said Brian Kendrella, president of Stack’s Bowers Galleries. “Clearly, the historical significance and extreme rarity of these coins were not lost on bidders.”

The five coins in this special Peace dollar consignment included the 1922 Modified High Relief Production Trial, Judd-2020, Proof-67 PCGS, which led the way in prices realized at $381,875. The coin is unique for a satin finish example of this design type.

Several other specialty collections were offered as well, including The Dr. James A. Ferrendelli Collection of early U.S. gold coins and The Gilded Age Collection of United States Double Eagles. Both collections were well met by the bidding public and offered many highlights throughout.

Over $28.7 million in United States and world coins, tokens, medals and paper money crossed the block in this event.

Highlights from the Stack’s Bowers Galleries August 2014 ANA World’s Fair of Money auction include:

• Lot 3178. 1877 Indian Cent. MS-65 BN (PCGS). Eagle Eye Photo Seal. Realized $21,150.

• Lot 4268. 1928 Peace Silver Dollar. MS-65+ (PCGS). CAC. From The Narva River & Lake Balaton Collection. Realized $21,150.

• Lot 4416. 1884-CC Liberty Double Eagle. MS-60 (NGC). Realized $14,687.

• Lot 11016. 1808 Quarter Eagle. BD-1. AU-55 (NGC). From The Dr. James A. Ferrendelli Collection. Realized $82,250.

• Lot 11058. 1795 Half Eagle. Small Eagle. BD-6. AU-58 (PCGS). From The Dr. James A. Ferrendelli Collection. Realized $64,625.

• Lot 11104. 1797 Capped Bust Right Eagle. Small Eagle. BD-1, Taraszka-7. AU-58 (NGC). From The Dr. James A. Ferrendelli Collection. Realized $164,500.

• Lot 12005. 1852-O Liberty Double Eagle. MS-62 (PCGS). From The Gilded Age Collection. Realized $94,000.

• Lot 13023. 1793 Flowing Hair, Wreath Cent. S-11B. Lettered Edge. MS-64 BN (PCGS). CAC. Ex: Bullowa. Realized $270,250.

• Lot 13027. 1794 Cent. S-48. Starred Reverse. VF-25 (PCGS). Ex: Van Arsdall-Bowers. Realized $129,250.

• Lot 13070. 1916-D Mercury Dime. MS-66 FB (PCGS). Realized $58,750.

• Lot 13076. 1828 Capped Bust Quarter. B-3. 25/50C. MS-63 (PCGS). Realized $117,500.

• Lot 13112. 1794 Flowing Hair Silver Dollar. BB-1. VF-35 (PCGS). From Dr. Richard Aghababian’s Early Impressions Collection. Ex: Samuel W. Wolfson. Realized $223,250.

• Lot 13166. 1921 Peace Dollar. High Relief. Sandblast or Matte Finish, Antiqued. Specimen-64 (PCGS). Ex: Mint Director Raymond T. Baker. Realized $129,250.

• Lot 13167. 1922 Peace Dollar. Modified High Relief Production Trial. Judd-2020. Proof-67 (PCGS). CAC. Satin Finish. Ex: Mint Director Raymond T. Baker. Realized $381,875.

• Lot 13287. (2000)-P Sacagawea Dollar—Muled with a Statehood Quarter—MS-67 (NGC). Realized $117,500.

The next Stack’s Bowers Galleries U.S. coin auctions are set for Oct. 9-11 in conjunction with the first annual PNG New York Invitational and Oct. 29-Nov. 1 in conjunction with the Whitman Coin & Collectibles Baltimore Expo.

Contact a Stack’s Bowers Galleries representative to consign at 800-458-4646 (West Coast) or 800-566-2580 (East Coast).

- See more at: http://www.numismaticnews.net/article/news/general/1804-silver-dollar-hits-1-8-million#sthash.5FyHjW4b.dpuf

1882 $100 Gold Certificate leading lot-Courtesy of Numistmatic News

 

 

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1882 $100 Gold Certificate leading lot

Posted on August 18, 2014 by NMN

A “unique in private hands” 1882 $100 Gold Certificate was the star of Stack’s Bowers Aug. 7 sale at the American Numismatic Association World’s Fair of Money in Rosemont, Ill. The rarity, Fr. 1203, which features Bruce-Wyman signatures and a small Brown Seal, went for $470,000, including the 17.5 percent buyer’s premium. It graded PCGS Fine 15.

This rare 1882 $100 Gold Certificate brought $470,000 in Stack’s Bowers auction at the “World’s Fair of Money.”

“Just three serial numbers are recorded with this A108124 “D” position note being the only collectible example,” the cataloger noted. “The other two pieces are permanently ensconced in both the Federal Reserve Bank of Richmond and New York collections.”

Another Gold Certificate, this one and 1882 $50, Fr. 1191, sold for $411,250 in PCGS Extremely Fine 40. This large Red “Peach” Seal “is extremely important to the paper money collecting community as it is only one of four examples known and the only one available to collectors.” The note pedigrees to the Albert Grinnell sale of 1945.

Bringing $352,500 was one of two known Fr. 167b “Spread Eagle” 1863 $100 Legal Tender Notes. This PCGS Very Fine 25 note is described as “a catalog number…often considered by many to be unique as the other recorded serial number of 31982 in a Very Good-Fine grade has never been offered publicly or sighted in major collections.”

Going for $329,000 was an 1878 “Triple Signature” $50 Silver Certificate, Fr. 324c, in PCGS Very Good 10 Apparent, Restorations. It is one “of only two collectible examples known for the entire type.”

Other top lots were:

• 1864 $100 Compound Interest Treasury Note, Fr. 193a, PCGS Very Fine 35 Apparent, Restorations, $282,000;

• 1863 $20 Interesting Bearing Note, Fr. 197, PCGS Very Fine 35, $211,500;

• 1889 $50 Legal Tender Note, Fr. 163, PCGS Gem New 65PPQ, $199,750;

• 1907 $1,000 Gold Certificate, Fr. 1219e, PMG Choice Uncirculated 64, $188,000.

• 1878 $10 “Triple Signature” Silver Certificate, Fr. 284b, PCGS Extrely Fine 40 Apparent, $188,000;

• 1882 $50 Gold Certificate, Fr. 1192, PCGS Extremely Fine 45PPQ, $188,000.

For additional information on this or future Stack’s Bowers auctions, visit www.stacksbowers.com.

- See more at: http://www.numismaticnews.net/article/news/general/1882-100-gold-certificate-leading-lot#sthash.FHLhxP4a.dpuf

From My Collection-1880 Morgan Dollar

 

 

 

 

The 2014-W Kennedy Half 50th Anniversary Gold Coin

 

 

 

US Mint Survey to Inquire about Low Denomination Coins | Coin News

US Mint Survey to Inquire about Low Denomination Coins | Coin News



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Rare 1787 Brasher Doubloon at ANA World's Fair of Money | Coin News

Rare 1787 Brasher Doubloon at ANA World's Fair of Money | Coin News



Beautiful And Rare!

10 Rules Of Successful Coin Collecting-Courtesy of Coin News

 

 

Ten Rules of Successful Coin Collecting

(Reprinted with Permission)
by Doug Winter Copyright © January 2000

If you do not learn how to become a good coin collector, you will not enjoy this hobby. This will become quickly apparent; especially the first time you have your rash, uninformed purchases looked at (and, probably, summarily dismissed) by a knowledgeable dealer or collector. There are a number of rules that all coin collectors should remember every time they make a purchase. Here are ten that I feel are especially important.

I. Education: The most successful coin collectors take time to learn as much as they can about numismatics. They not only study coins but the dynamics of the market as well. To learn about coins, I strongly suggest that you buy and read as many books as possible. You can supplement these books with specific catalogs that relate to your chosen field of specialization. A serious collector might even go as far as creating a database of prices that relate to his specialty. Other suggestions for new collectors include subscribing to periodicals such as Coin World and Numismatic News. You should join the American Numismatic Association and use their library (they will send books by mail to members). Become friendly with other collectors and communicate with them by phone or e-mail. And don't be afraid to ask questions.

II. Specialization: It is too hard to begin a coin collection without having goals and boundaries. I have always been a strong believer that it is better to view numismatics with a "micro" perspective as opposed to a "macro" perspective. As an example, if you start by collecting Charlotte gold coinage, your "world of focus" becomes 52 specific issues. It is realistic to assume that an intelligent individual who is willing to commit time to this area of study could become relatively knowledgeable within a year or two. To become similarly knowledgeable in a larger field of study (such as all branch mint US gold coins produced between 1838 and 1907) requires many more years. Becoming a well-versed specialist will allow you to level the playing field between you and dealers and it should enable you to make better purchases.

III. Patience: We live in an era of immediate gratification. New collectors often have the urge to jump in very quickly and complete their sets as fast as they can. The best coin collections are built over the course of many years. Sometimes, it is possible to purchase a number of great coins in a very short period of time. But most times, the opportunities to purchase great coins are few and far between. The new collector should avoid the temptation to buy the "wrong coin" just because he needs it for his set and he does not want to wait. Impetuous decisions are invariably incorrect and usually prove costly over the course of time.

IV. Connections: It amazes me how many serious collectors get their "meatiest" information on topics such as pricing, market conditions and future trends from such third-hand sources as newsletters, coin magazines and coin brokers. This information is almost always well out of date and totally biased. (Remember that most newsletters which recommend specific coins are written by dealers who have taken a position in what they are touting). The only way to get real information about the coin market is from a dealer or collector who regularly attends shows and auctions. This discounts most coin brokers/salesmen as they get diluted information from their superiors and then pass on these half-baked "truths" to the masses. I personally view it as my duty to pass on accurate information to good clients. Conversely, I will not willing pass this information onto "tire kickers." The best way to get good information is to establish a good working relationship with a well-connected, reliable dealer.

V. Thinking Like A Collector: Anyone who approaches numismatics with a dispassionate attitude is a virtual certainty to lose money. Conversely, most pure collectors make money; often times in spite of themselves. This is because they buy coins for the right reason: they love them. They what interests them and they carefully research their purchases. They know for example, that a coin similar to one they just purchased sold for 10% more at a major auction. They know that they are not buying overhyped coins at the height of a promotional period. They are not buying coins just because a voice at the other end of the phone told them to and they are not buying them because this person told them their new coins would "increase in value 50-75% over the next three years." Remember this rule because it may be the most important one of the ten listed here: learn to think and act like a true collector and you will have more fun now and have a better chance to expect a reasonable profit on your purchases over the course of time.

VI. Connoisseurship: I define connoisseurship as the ability to discern true quality in a specific field. In numismatics, the connoisseur is able to determine which coins have the most aesthetic eye appeal and which, literally, stand apart from the "typical" piece. A numismatic connoisseur, for instance, is able to appreciate a truly original gold coin with rich, "crusty" coloration. He is able to innately sense that 150 year old coins do not have to be big and bright in order to be desirable. Connoisseurship is a natural ability. You either are able to naturally determine the "best" or you are not. If you are not a born connoisseur (and very few people are) then you should find a dealer who has this ability to assist you with your purchases. I would estimate that less than 5% of all coin collections are "connoisseur quality" and those that are typically the ones that show the greatest financial appreciation over the course of time.

VII. Learning to Grade: I have seen people spend millions of dollars on rare coins without having the slightest idea how to grade. They put their complete trust in dealers and in third-party grading. Frankly, this attitude leaves me baffled. If I do not feel very comfortable grading a specific type of coin, I do not buy it. As an example, I think Indian Head half eagles are extremely hard to grade. To be totally honest, I can't grade the damn things. My solution? I don't buy them. By the same token, I feel that I am a world-class grader of Liberty Head half eagles. So I buy a lot of them. There are some simple rules when it comes to grading. First--and foremost--you need to view as many coins as possible. I would recommend that you attend shows and auctions and carefully look at coins. Secondly, I would take one of the grading classes offered by the American Numismatic Association at their annual Summer Seminars. Thirdly, I would make the decision to specialize, so that you have fewer types of coins to learn to grade. Fourthly, I would try to learn grading tips from the dealer(s) that I buy the majority of my coins from. Finally, I would always remember that while third-party grading is a great safety net for the beginner, there is nothing like your own knowledge.

VIII. Thinking Long Term: Coins are a terrible short-term investment. Even if you buy coins at a fair "retail" mark-up, you are still paying at least 10-20% over typical wholesale prices. This means that any coins that you purchase have to go up at least 10-20% for you to break even. When coins were heavily touted as investments in the 1980's, the common logic was that you needed to hold at least three to five years. I would suggest that you should plan to hold your coins at least ten years and preferably more. The greatest collections (Eliasberg, Pittman, Norweb, etc.) were built over the course of fifty+ years.

IX. Quality Not Quantity: Let's say that you have a coin budget of $20,000 per year. I would suggest that you purchase four or five really nice $4000-$5000 coins each year than twenty $1000 pieces. The coin market of the future will be even more predicated on quality than it already is. High quality coins will become harder to find and, consequently, more expensive. The decision to purchase the best coins you can afford will prove to be very intelligent over the course of time. A few years ago, another dealer had an advertising campaign that basically said that your entire collection should be able to fit into a PCGS shipping box (i.e., it would be twenty coins). While this never really caught on, I think his idea actually has some merit. If you have decided to be more of a "generalist" buyer than a "specialist," I like the concept of having a small collection of great coins instead of a large collection of nondescript coins.

X. Buying the Best You Can: Understand if you are new to coin collecting and you know next to nothing about coins and the coin market, you have no business purchasing $10,000+ items. I would strongly suggest that you start small and take at least three to six months to study the market. Once you feel more comfortable, you can take a bigger plunge into the coin market.
Conclusion: The regimen that I have discussed above is not easy to follow. Most people are not willing (or able) to follow this approach as it requires considerable discipline and a major commitment of time. If some of these steps seem practical to you and others do not, then I suggest you follow what you can and keep the other steps in the back of your mind as you become better acquainted with numismatics.