(Dallas, Texas)
– The finest known of the five 1885 Trade Dollars, previously in the
collection of legendary “King of Coins” banker, Louis E. Eliasberg
Sr., was purchased for $3.3 million in a private sale made by Heritage
Galleries and Auctioneers of Dallas, Texas (www.HeritageGalleries.com),
Wednesday, January 11, 2006.
 “The anonymous
buyer is a financial services executive and sophisticated art collector who is
putting together one of the finest coin collections in the country. The seller
was John Albanese of Far Hills, New Jersey,” explained Greg Rohan,
President of Heritage.
The coin is graded NGC PF-66.
“For
over 50 years this coin was in the collection and later the estate of colorful
Baltimore, Maryland banker, Louis E. Eliasberg Sr., the only collector ever to
assemble a complete collection of United States coins. His 1885 Trade Dollar
was sold for $907,500 in a 1997 auction. It subsequently changed hands in 1999
for $1,500,000, and now has been purchased for $3.3 million,” said Rohan.
 “This is the most valuable rare coin we’ve ever sold, and
we sold six coins for over $1 million each in 2005. The rare coin market is
incredibly active.”
Trade Dollars were only made from 1873 to 1885
and never intended to circulate within the United States. They were shipped
overseas to be used in international commerce.
Only five specially-made
proof Trade Dollars were struck in the final year of production, 1885, and this
is the finest known example, according to Rohan. The other four examples also
are in private collections.
The record price for a rare coin is $7.59
million paid by an anonymous bidder in 2002 for a 1933 Double Eagle $20
denomination U.S. gold coin.
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