PRESS RELEASE: $10.7 Million Changes Hands in Heritage Auctions’ Long Beach Event June 8-11

//PRESS RELEASE: $10.7 Million Changes Hands in Heritage Auctions’ Long Beach Event June 8-11

PRESS RELEASE: $10.7 Million Changes Hands in Heritage Auctions’ Long Beach Event June 8-11

Very large Kellogg & Humbert Gold Ingot from the S.S. Central America wreck brings $188,000

DALLAS, Texas (June 13, 2017) A diverse selection of rarities led the way June 8-11 as Heritage’s auction of rare U.S. coins, held in conjunction with the Long Beach Coin and Collectibles Expo, raised more than $10.7 million for consignors. The auction was 98 percent sold by lot and by value.

The market for rare and unusual specimens is still doing very well, said Jim Halperin, Co-founder of Heritage Auctions. We saw robust activity at Long Beach with 13 bidders vying for the top lot.

The biggest lot of the auction (in both hammer price and size) was a 107.76 ounce Kellogg & Humbert gold ingot, which sold for $188,000. Classified as very large it has a stamped value of $2,109.31, in 1857 dollars. Like many others seen today, it was recovered in the S.S. Central America.

The well-known key among circulation strike Morgan dollars is the 1893-S, and an example of this sought-after coin, graded MS61 by PCGS, raised both eyebrows and expectations when it hammered at $176,250. This is the first mint state example of this coin offered at Heritage Auctions since July 2015. Fewer than 70 examples of this issue have been certified in mint state grades by the major grading services, a minuscule number when taking into account the popularity of the Morgan dollar series.

A 1652 Pine Tree Shilling graded MS65 by PCGS represents probably the finest example of the rare Noe-7 variety. While Pine Tree shillings as a whole are not rare, only about 11 examples of the Noe-7 variety are believed to exist, and this coin is believed to be the finest among them, raising the question of how any coin from 1652 could survive for so long with such a high degree of preservation. This coin found a new home for $141,000.

Additional highlights of the auction included:

1796 $2 1/2 No Stars on Obverse, BD-2, AU50 PCGS: realized $111,625

1921 $20 MS62 PCGS: realized $88,125

1808 $2 1/2 BD-1, XF45 PCGS: realized $82,250

1820 25C Browning 4, Small 0 PR64 PCGS Secure. CAC: realized $76,375

1895 $1 PR64+ Cameo PCGS: realized $76,375

1872 25C Amazonian Quarter Dollar, Judd-1196, R.7, PR66 Red and Brown PCGS: realized $70,500

1875 T$1 Commercial Dollar, Judd-1425, R.8, PR66 Cameo PCGS: realized $64,625

1652 Pine Tree Shilling, Small Planchet, MS64 NGC. Noe-16: realized $25,850

1907 $10 Wire Rim MS64+ PCGS Secure. CAC: realized $58,750

Heritage Auctions is the largest fine art and collectibles auction house founded in the United States, and the world’s largest collectibles auctioneer. Heritage maintains offices in New York, Dallas, Beverly Hills, San Francisco, Chicago, Palm Beach, Paris, Geneva, Amsterdam and Hong Kong.

The Internet’s most popular auction-house website, HA.com, has over one million registered bidder-members, and searchable free archives of four million past auction records with prices realized, descriptions and enlargeable photos. Reproduction rights routinely granted to media for photo credit.

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By | 2017-06-13T22:30:33+00:00 June 13th, 2017|Blog|0 Comments

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