The December 3rd Coins and Banknotes sale, presented by Bonhams New York, was the first of its kind to be held at the auctioneers’ New York showrooms, numismatics from across the globe eagerly awaited the opportunity to bid on over 400 exceptional lots.

“I am delighted to have been able to organize and hold our inaugural auction at Bonhams New York,” commented Director of Coins and Banknotes, Paul Song. “Although some parts of the rare coin and banknote market were selective, we had areas of incredible strength, most notably in the US gold, where we realized prices never seen before for US regular issue gold coinage of the 19th and 20th century. We look forward to our next auction in the spring of 2010”.

Clearly one of the most coveted lots in the sale was a 1915-S $50 Panama-Pacific Round (pictured, above). Considered one of the most desirable of Classic Era commemorative coins, this is the largest official coin produced by the United States Mint and features the helmeted head of Minerva on the obverse and an owl on the reverse. With an amazingly limited number of defects, both sides are bathed in a shimmering velvet bloom. The rarity and importance of this issue, as well as the beautiful quality, resulted in a final price of $54,990.

Also drawing collectors was an 1851-O $20. Although coined in a large mintage of 315,000 pieces, the vast majority of these disappeared long ago. Only a mere handful exist in high grades, and perhaps just 100 or so are of as fine a quality of the present example. Touching off a round of intense bidding, this fine and seldom found piece drew the impressive price of $12, 285. (more…)

Collectors are eagerly awaiting the first sale of rare and exceptional Coins and Banknotes to be presented by Bonhams New York. Taking place on December 3rd, the sale consists of over 400 lots ranging from 1692 to the early 21st Century.

Amongst the most coveted lots will be an exceptionally rare 1796 $10 AU50 NGC . Bright green-gold with warm honey and orange highlights, the coin’s intense mint bloom glows broadly in the fields and within the protected design areas. The obverse is of the Turban Head type with stars to both sides. The reverse motif, also used on the contemporary half eagle, depicts the national bird solidly perched on a branch of palm, holding aloft a victory wreath without any olives or berries. The die work is excellent being BD-1, Breen-6832, Bass-3174, Taraszka-6, R.4, the only known die pairing for the year. From the earliest years of the regularly issued coinage of the United States which started in 1796, this highly important and elusive issue is estimated at $65,000-75,000.

Another lot certain to lure collectors is a 1915-S $50 Panama-Pacific Round. Considered one of the most desirable of Classic Era commemorative coins, it was originally issued to be sold at the 1915 Panama-Pacific International Exposition held in San Francisco. Due to the fact that most people could not or did not want to spend $50 for a collectible coin during the WWI period, many remained unsold. However, by the 1920s demand for the $50 pieces increased and has continued to grow. Featuring the helmeted head of Minerva on the obverse and an owl on the reverse, both sides are bathed in shimmering velvet bloom. Close examination of the surfaces yields the presence of an amazingly limited number of defects. This is the largest official coin produced by the United States Mint, and its rarity is a great accident of fate, as most of the unsold pieces were melted down. Estimated at $50,000-60,000 the rarity and importance of this issue, as well as the beautiful quality, make it an extraordinary collecting opportunity.
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