Coin Collecting News » Bowers and Merena

Bowers and Merena Auctions and Stacks Announce Merger

Bowers and Merena — Thu, 23 Dec 2010 00:23:46 +0000

BOWERS AND MERENA AUCTIONS TO JOIN FORCES WITH STACK’S TO CREATE STACK’S-BOWERS NUMISMATICS

Spectrum Group International, Inc. (SPGZ.PK) announced today that its subsidiary Bowers and Merena Auctions, one of the world’s pre-eminent auctioneers of rare coins and currency, has entered into an agreement with Stack’s, the oldest rare coin retail and auction company in the U.S., to combine their operations.

The new company, which will be known as Stack’s-Bowers Numismatics, with a world coin division to be known as Stack’s-Bowers and Ponterio, will be owned 51% by Bowers and Merena Auctions and 49% by Stack’s. The closing, which is subject to the satisfaction of customary conditions, is expected to take place in early 2011.

Greg Roberts, president and chief executive officer of Spectrum Group (SGI), commented, “We believe that this combination, once consummated, will create a major player in the coin industry. Stack’s had over $65 million in aggregate sales in 2010 and between them, the two companies have handled many of the significant coin collections that have sold at public auction, including the Eliasberg Sales, the Norweb Sales and the Ford Collections.”

Bowers and Merena Auctions president Chris Napolitano, who will serve as president of the combined company, said, “I am honored and excited to lead this new venture, which combines two of the leading names in our industry. We consider Stack’s to be the crown jewel of coin auction houses and with this partnership, we have assembled a numismatic team that we believe to be unequaled in the industry. We look forward to continuing and expanding Stack’s auction and retail locations in mid-town Manhattan, which serve not only the greater New York metropolitan area but also the entire east coast.”

Added Mr. Roberts, “A significant factor for SGI in pursuing this merger was the opportunity to partner with Charles, Joel and Harold Anderson and the rest of the Anderson family, who own a controlling interest in Stacks. For years I have enjoyed a strong personal and professional relationship with the Andersons and now look forward to a long-lasting association with the family through Stack’s-Bowers Numismatics. We intend to continue the long tradition that the Stack family developed over many decades in New York. For years it has been a goal of ours to have a presence in NYC. With this partnership, we will achieve that goal at one of the most famous and prestigious addresses in the numismatics industry: 123 West 57th Street, New York, New York.”

Joel Anderson commented, “We are looking forward with great enthusiasm to the successful combination of these two fine companies. Both have rich histories of service with integrity to the numismatic community and together their combined resources and talents will bring new levels of service and value to the numismatic market. In addition, Charles, Harold and I have assembled some nice collections and we are pleased that Stack’s-Bowers Numismatics will be there for us when the time comes to sell.”

Concluded Mr. Roberts, “Consistent with our goal of creating long-term value for our shareholders, we have made the decision to focus our energy on growing our core trading and numismatics businesses, and this transaction is a key part of that strategy. For those same reasons, we have entered into an agreement to sell our arms and armor auction company, Greg Martin Auctions, back to Greg Martin and his partners, following its January auction in Las Vegas. Under Mr. Martin’s leadership, we have every expectation that Greg Martin Auctions will continue its tradition of providing expert appraisal and auction services to collectors of antique firearms.”

ABOUT SPECTRUM GROUP INTERNATIONAL, INC.

Spectrum Group International, Inc., named to the Fortune 500 list in 2010, is a global trading and collectibles network. We are a trader of precious metals and an auctioneer of coins, stamps, wine, and antique arms, armor and historical memorabilia, serving both collectors and dealers. We are also a merchant/dealer of certain collectibles. Our collectibles offerings span the price spectrums from modest to ultra-high end. Furthermore, we offer loans to coin dealers, collectors and investors back by their precious metals, rare coin and other collectibles as collateral.

Our Trading business is conducted through A-Mark Precious Metals, Inc. and its subsidiaries. A-Mark is a full-service precious metal trading company, and an official distributor for many government mints throughout the world. A-Mark products include gold, silver, platinum and palladium for storage and delivery in the form of coins, bars, wafers and grain, and our services include financing, leasing, consignment, hedging and various customized financial programs. A-Mark’s subsidiary, Collateral Finance Corporation, which is the official Numismatic Lender of the American Numismatic Association, provides financing on a wide array of bullion and numismatic products.

Our Collectibles business operates as an integrated network of leading companies concentrating on numismatic (coins) and philatelic (stamps) materials, and rare and fine vintage wine. We have offices and auction houses in North America, Europe and Asia. In addition to traditional live auctions, we also conduct Internet and telephone auctions.

Our Collectibles companies in the philatelic field are auction houses H.R. Harmer Global Philatelic of Irvine, California, Corinphila Auktionen of Zurich, Switzerland, Heinrich Köhler Auktionshaus of Wiesbaden, Germany, Corinphila Veilingen B.V., Amstelveen, Netherlands, and John Bull Stamp Auctions, Ltd of Hong Kong. Spectrum Group’s Collectibles companies in the numismatics field include Bowers and Merena Auctions (rare coin and currency auction house), Ponterio & Associates (world and ancient coins and currency auction house), Teletrade (online coin auctions) and Spectrum Numismatics International (wholesale rare coin dealer), all based in Irvine, California. Spectrum Wine Auctions is engaged in the sale by auction of rare and fine vintage wine.

Malibu Collection Part II Anchors Bowers and Merena’s January 2011 Rarities Sale

Bowers and Merena — Mon, 20 Dec 2010 18:48:02 +0000

Nearly 1,700 lots to cross the auction block in Tampa, FL immediately prior to FUN

Bowers and Merena, one of the world’s preeminent auctioneers for rare coins and currency, will conduct the January Rarities Sale as its first event of 2011. The single-session sale on Jan. 4 at the Grand Hyatt Tampa Bay will offer nearly 1,700 lots of rare and desirable United State and Colonial-era coinage.

“It is and honor and thrill to start my career with Bowers and Merena with such an important sale,” said Chris Napolitano, President of Bowers and Merena. “Our January 2011 Rarities Sale will be presenting a wide selection of United States, Colonial and Territorial coins which range from affordable collector coins to world-renowned absolute and condition pieces.”

Headlining the sale is Part II of the Malibu Collection. “The first part of this impressive Malibu Collection helped propel our Official Auction of the November Whitman Coin & Collectible Baltimore Expo to the forefront among numismatic events of 2010. Part II promises the same rarity, quality and eye appeal that we have come to expect from the collection,” said Napolitano.

Highlights from the Malibu Collection include lot 855, one of the finest-known 1866 Motto Seated Dollars in PCGS Secure Proof-66 Deep Cameo, as well as lot 594, an important strike and condition rarity 1918-S Standing Liberty Quarter certified MS-67 Full Head by NGC with a combined pop of just 2/0 by PCGS and NGC.

“From U.S. minors to patterns, bidders will also enjoy Part II of the G. Edward Reahl, Jr. M.D. Collection and the Abingdon Collection,” said Napolitano.

Additional highlights in the sale include:

* Lot 48, 1883 Hawaii Eighth Dollar, Proof-62 Cameo (PCGS), Secure Holder
* Lot 59, Undated (Circa 1616) Sommer Islands Twopence, BMA Type I, Small Star Below Hog, AG-3 (PCGS)
* Lot 73, 1776 Continental Dollar, CURENCY, Pewter, MS-63 (NGC)
* Lot 302, 1924-S Buffalo Nickel, MS-66 (NGC)
* Lot 304, 1925-D Buffalo Nickel, MS-66 (PCGS), Secure Holder
* Lot 722, 1865 Seated Liberty Half Dollar, Proof-67, Cameo (NGC), From the Malibu Collection
* Lot 1261, 1856 Pattern Flying Eagle Cent, Snow-4, Rarity-7+, Proof-63 (PCGS), From the G. Edward Reahl, Jr. M.D. Collection, Part II
* Lot 1351, 1879 Liberty Quarter Eagle, Proof-67 Cameo (NGC)
* Lot 1359, 1899 Liberty Quarter Eagle, Proof-68 Ultra Cameo (NGC)
* Lot 1383, 1911-D Indian Quarter Eagle, MS-65 (NGC)
* Lot 1412, 1854-D Three-Dollar Gold Piece, AU-55 (PCGS)
* Lot 1423, 1873 Three-Dollar Gold Piece, Closed 3, MS-61 (PCGS)
* Lot 1458, 1859-C Liberty Half Eagle, Winter Variety 1 (27-M), MS-63 (PCGS)
* Lot 1459, 1860-D Liberty Half Eagle, Winter 38-FF, MS-64 (NGC)
* Lot 1489, 1911 Indian Half Eagle, Proof-66 (NGC)
* Lot 1544, 1907 Indian Eagle, Wire Rim, MS-67 (PCGS), Secure Holder
* Lot 1556, 1913 Indian Eagle, Proof-66 (NGC)
* Lot 1584, 1876 Liberty Double Eagle, Proof-63 Cameo (PCGS)
* Lot 1609, 1905 Liberty Double Eagle, Proof-64 (NGC)
* Lot 1634, 1911 Saint-Gaudens Double Eagle, MS-67 (NGC)

All lot descriptions and images can be viewed online at the firm’s web site by visiting www.bowersandmerena.com and printed catalogs are available upon request by calling 800-458-4646. Bidding is open and pre-auction bids can be placed through the firm’s web site, by email at auction@bowersandmerena.com, via fax at 949-253-4091, by calling 800-458-4646 or by postal mail addressed to Bowers and Merena, Tampa Bay January 2011, 18061 Fitch, Irvine, CA 92614. Lots viewing will be conducted at the Grand Hyatt Tampa Bay in the White Ibis Room on Jan. 2-4.

Wa She Wong Collection of Chinese and Other Asian Coins Tops $10.7 Million at Hong Kong Auction

Bowers and Merena — Tue, 14 Dec 2010 17:27:10 +0000

Exclusive NGC-graded sale marks most important array of Chinese coinage offered at auction in 20 years

Over 300 anxious bidders filled the live auction floor for the highly anticipated sale of the Wa She Wong Collection and other Asian Coins on Dec. 3-4. The Hong Kong auction, presented by Ponterio & Associates, a division of Bowers and Merena Auctions, featured 1,107 lots with total sales reaching $10.7 million.

“A collection of Chinese coinage of this magnitude has not come to market in over 20 years and it surely did not disappoint,” said Rick Ponterio, executive vice president of Bowers and Merena. “We saw such spirited bidding, the sale of the first 487 lots took an astounding 11 hours with many of the lots selling for multiple times their estimated value.”

Drawing worldwide attention, the collection is a compilation of Wa She Wong’s lifelong passion for collecting which contained multiple rarities missing from major exhibits including many scarce pattern coins that were never released into general circulation. Headlining the collection, the 1890 Kwantung Mint Specimen Set, lot 220, began with an estimated value of $300,000 and realized a staggering $718,750. The set represents a landmark in Chinese minting as the first silver coinage produced with modern machinery.

Another important coin was the extremely rare “Flying Dragon” Szechuan 30 Cash Struck in Copper, lot 311. Opening at $12,500, lively bidding quickly brought the coin to a final selling price of $460,000. “The buyer had been searching for this rarity, one of only two known in private hands, for more than 30 years. The two other examples known to exist are housed in public museum collections,” said Ponterio.

All major rarities in the collection were certified by the Numismatic Guarantee Corporation (NGC), a market leader in grading Chinese coins, and pedigreed as “Wa She Wong Collection” on individual holders. Additional highlights of the Wa She Wong Collection include:

Lot 3, 1920 “Yuan Shi Kai” Dollar Struck in Gold, MS-64 (NGC), realized $138,000

Lot 27, 1911 “Long-Whisker” Dragon Pattern Dollar Struck in Silver, MS-65 (NGC), realized $431,250 (Ex: Kann Collection)

Lot 130, 1844 Changchow Military Rotation Dollar, AU-50 (NGC), realized $103,500

Lot 139, 1909 Honan Pattern 20 Cash Struck in Copper, AU-55 BN (NGC), realized $126,500

Lot 147, 1930 Hunan Pattern 500 Cash Struck in Copper, MS-63 BN (NGC), realized $103,500

Lot 162, 1897 Kiangnan Dollar, Plain Edge, Proof-66 Cameo (NGC), realized $373,750

Lot 172, 1899 Kiangnan 50 cents, AU Details (NGC), realized $172,500 (Ex: Kann Collection)

Lot 219, 1888 Kwantung Mint Specimen Set, Seven Three Reverse Pattern, K-16/20 (NGC), realized $546,250

Lot 234, 1898 Shensi Mint Specimen Set, K-156/159 (50¢, 20¢, 10¢, 5¢), realized $258,750

Lot 340, 1935 Shensi Soviet Dollar, Large Hammer & Sickle, XF Details (NGC), realized $92,000

Lot 475, 1921 British Trade Dollar, AU-55 (NGC), realized $43,700

In day two of the sale, Asian coins and paper money also performed very well. A standout coin in these sessions was lot 1123, a 1929 Austrian Pattern “Sun Yat Sen” Dollar, MS-61 (NGC), which realized $207,000. This rarity was discovered as part of the Richard Platch Estate, an engraver at the Vienna Mint that was responsible for several important Chinese patterns. Additional highlights from day two of the sale include:

Lot 1039, 1897 Kiangnan Dollar, Ornamental Edge, MS-62 (NGC), realized $103,500

Lot 1195, 1912 Shandong Gaobianbao 50 Tael, High-Sided Sycee Ingot, Choice Very Fine, realized $86,250

Lot 2138, Banque De L’Indo-Chine 5 Piastres Specimen, Gem Uncirculated 66 EPQ (PMG), realized $57,500

Additional material from the Wa She Wong Collection will be offered at Ponterio & Associates’ next Hong Kong sale in August 2011 and the company is currently accepting consignments of Chinese and other Asian coins and paper money.

The Wa She Wong sale wraps-up an outstanding week of auctions in Hong Kong for Spectrum Group International. Spectrum Wine Auctions’ sale on Dec. 5 realized $4.4 million – the highest since the company formed a year ago, and John Bull Stamp Auctions hosted its largest sale ever Nov. 25-28 with $3.5 million in total sales.

Bowers and Merena’s next auction is the January 2011 Tampa Bay Rarities Sale which is scheduled for Jan. 4, immediately preceding the FUN Show in Florida. The sale will feature Part II of the impressive Malibu Collection. Ponterio & Associates’ next auction is the January N.Y.I.N.C. Auction scheduled for Jan. 7-8 in New York.

For a complete list of auction highlights and prices realized, visit the firm’s web site at www.bowerandmerena.com or call 800-458-4646.

For more information about Bowers and Merena and Ponterio & Associates, or to consign to an upcoming auction, call 800-458-4646. For media inquiries, ask for Director of Operations, Brian Kendrella. Complete prices realized for all past auctions are available at www.bowersandmerena.com.

Bowers and Merena November 2010 Baltimore Auction Tops $13 Million in Sales

Bowers and Merena — Fri, 19 Nov 2010 20:53:59 +0000

Malibu, Kupersmith and Zürich collections excite bidders

Bowers and Merena, one of the world’s preeminent auctioneers for rare coins and currency, saw spirited bidding as the Official Auctioneer of the November 2010 Whitman Coin & Collectibles Baltimore Expo. Nearly 3,900 lots of rare U.S. coins and currency crossed the auction block in the Nov. 4-6 sale and realized $11.6 million. Ponterio & Associates, Bowers and Merena’s world and ancient coin division, brought over 2,900 lots and added an additional $1.6 million to the sale.

“With the selection of U.S. and foreign collections presented, this year’s November Baltimore Auction ranks as one of our most important auctions yet,” said Greg Roberts, CEO of Bowers and Merena Auctions. “Even our optimistic appraisals were far surpassed, especially those in the fabulous Malibu Collection, which was comprised of the #2 collection of Standing Liberty Quarters with full-head designation on the PCGS Set Registry and an awe-inspiring array of Seated Liberty coinage.”

The Malibu Collection of Standing Liberty Quarters, featured lot 1750, the key-date 1916 in PCGS/CAC MS-67 FH that sold for $115,000, lot 1760, the finest-known 1919-D in PCGS MS-66+ FH, that brought $109,250 and lot 1776, the pop 1/2 example of low mintage 1927-S in PCGS/CAC MS-65+ FH sold for an impressive $149,500.

The 1882 Half Dollar, one of only three Motto Seated Half Dollars certified MS-68 by PCGS and verified by CAC, lot 2074, traded hands at $74,750. Finally, the amazing Stack-Pryor-Malibu Specimen of 1855 Arrows Seated Half Dollar in PCGS/CAC MS-66, lot 2018, realized $54,625.

Leading the way among gold coin highlights, the Kupersmith Once-in-a-Lifetime Collection of 1875-dated gold coinage featured many of the rarest and most significant pieces of the sale. The proof-only 1875 Three-Dollar gold piece, certified Proof-66 Ultra Cameo by NGC with a pop 1/0 sold for $253,000. The business strike 1875 Liberty Half Eagle offered as lot 5043, an even rarer issue, went for an impressive $149,500. Certified AU-55 by NGC, the coin represents the finest grade available among the 10 coins believed to exist from a 200-piece issue.

Another anchor in the Baltimore Auction was the Zürich Collection which almost exclusively contains rare, high-grade proof Liberty Double Eagles. A beautiful gem, the 1892 Double Eagle in NGC Proof-66 Ultra Cameo from the collection netted $103,500 as lot 5392.

“Foreign coins and currency also performed extremely well in Baltimore, with many lots selling far in excess of our pre-sale estimates” said Rick Ponterio, executive vice president of Bowers and Merena Auctions. “Lot 7529, a 1791-CNB-RA Russian 1/2 Ruble in NGC MS-61 shattered the pre-sale estimate of $700 when it sold for $21,240 and lot 8777, an Iraq Dinars L. 1913 (1936), P-12s in VF also did exceptionally well with a realized price of $32,450 and a pre-sale estimate of $8,000.”

Other highlights in Bowers and Merena and Ponterio & Associates November 2010 Baltimore Auction include:

* Lot 84, 1662 Massachusetts Bay Colony Oak Tree Twopence, Small 2, MS-65 (PCGS), realized $103,500
* Lot 85, 1652 Massachusetts Bay Colony Oak Tree Sixpence, IN on Reverse, MS-62 (PCGS), realized $46,000
* Lot 1785, 1916 Standing Liberty Quarter, MS-67+ FH (PCGS), CAC, realized $195,500
* Lot 1908, 1796 Draped Bust Half Dollar, 15 Stars, MS-63 (NGC), realized $299,000. Ex-Norweb Collection
* Lot 2200, 1797 Draped Bust Silver Dollar, Stars 9×7, Large Letters, MS-63 (NGC), realized $92,000

· Lot 3173, (12) Fr. 747, 751, 753, 759, 760, 762, 765, 768, 772, 775, 777 & 778 1918 $2 Federal Reserve Bank Notes, Choice Uncirculated 64 EPQ to Gem Uncirculated 66EPQ (PMG), realized $57,500
· Lot 3460, National Bank Note, Ogden, Utah, $10 1902 PB, Fr. 624, The Utah NB, Charter #2880, Choice Very Fine, realized $23,000

* Lot 4703, 1851 Augustus Humbert $50 Gold, Lettered Edge, 50 D C, 887 THOUS, 50 on Reverse, MS-62 (PCGS), Secure Holder, realized $316,250
* Lot 4777, 1802 Capped Bust Right Quarter Eagle, MS-65 (NGC), realized $161,000
* Lot 4781, 1808 Capped Bust Left Quarter Eagle, MS-63 (NGC), realized $316,250
* Lot 5037, 1879 Four-Dollar Gold Stella, Flowing Hair, Judd-1635, Proof-65 Cameo (PCGS), CAC, realized $186,875
* Lot 5042, 1875 Liberty Half Eagle, Proof-66 Cameo (NGC), realized $143,750, From the Kupersmith Once- in-a-Lifetime Collection
* Lot 5404, 1897 Liberty Double Eagle, Proof-66 Ultra Cameo (NGC), realized $94,300, From the Zürich Collection
* Lot 5426, 1902 Liberty Double Eagle, Proof-66 Cameo (NGC), realized $83,375, From the Zürich Collection
* Lot 5603, 1932 Saint-Gaudens Double Eagle, MS-66 (NGC), realized $92,000
* Lot 6308, Mexico, Guadalajara, 8 Reales, 1863-FV, Almost Uncirculated, realized $16,520
* Lot 7557, Russia, Alexander III Memorial Ruble, 1912-EB, AU-58 (NGC), realized $11,505
* Lot 8114, Bermuda, 10 Shillings, 30.9.1927, P-4, Choice Very Fine, realized $5,900
* Lot 8611, Iran, 2 Tomans, 1913, P-2, About Uncirculated, realized $21,240

Part II of the Malibu Collection will be feature prominently in Bowers and Merena’s upcoming January 2011 Tampa Bay Rarities Sale. The auction is scheduled for Jan. 4, 2011, immediately preceding the FUN Show in Florida.

For a complete list of prices realized for Bowers and Merena and Ponterio & Associates November 2010 Baltimore Auction, visit the firm’s web site at www.bowersandmerena.com or call toll-free at 800-458-4646.

Coin Profile: Norweb Specimen of the 1796 15 Stars Small Eagle Half Dollar Highlights B&M Sale in Baltimore

Bowers and Merena — Mon, 01 Nov 2010 14:57:38 +0000

A Prooflike NGC MS-63; Tied for Condition Census #3

The Half Dollars that the United States Mint delivered in 1797 differed from the previous issues for this denomination from 1794 and 1795. For in late 1796 Mint personnel adopted Robert Scot’s Draped Bust, Small Eagle design that had already been used in the production of 1795-dated Silver Dollars for use on the Half Dollar. The delivery of 1797 amounted to a mere 3,918 pieces, the first 934 or so examples having been struck from one of two 1796-dated obverse dies.

Surprisingly for a denomination that otherwise proved extremely popular with contemporary bullion depositors, no more Half Dollars were ordered until 1801, at which time the Large Eagle variant of the Draped Bust type became current. The Draped Bust, Small Eagle Half Dollar, therefore, became an instant numismatic rarity–a two-year type with a combined mintage of just 3,918 pieces. Survivors of both dates are very scarce-to-rare in all grades, and they never fail to cause a stir among advanced collectors whenever the coins make an appearance at auction.

The 1796-dated Half Dollar delivery was achieved through the use of two obverse dies and a single reverse die in two marriages. O-101 is easy to distinguish from O-102 as the former variety exhibits only 15 stars at the obverse border. There are fewer than 100 different examples of the O-101 die marriage believed extant, an estimate that allows us to further estimate the mintage for this variety at just 569 pieces. The phenomenal Choice Unc that we offer here traces its pedigree to the fabulous Norweb Collection–as well as other important numismatic cabinets–and it is tied for Condition Census #3 for the die marriage with only two other MS-63s of which we are aware:

1. Ex: Benjamin H. Collins (1/1896); J.M. Clapp; John H. Clapp; Clapp estate (1942); Louis E. Eliasberg, Sr.; The Louis E. Eliasberg, Sr. Collection (Bowers and Merena, 8/1997), lot 1673; Denver, CO Signature & Platinum Night Auction (Heritage, 8/2006), lot 5222. PCGS MS-63.

2. Ex: Four Landmark Collections Sale (Bowers and Merena, 3/1989), lot 1990; The Allison Park Collection Sale (American Numismatic Rarities, 8/2004), lot 418; Long Beach Signature Auction (Heritage, 6/2005), lot 6209; The Southwest Collection (Heritage, 2/2008), lot 528. NGC MS-63.

3 – Ex: Waldo C. Newcomer; Colonel E.H.R. Green; The T. James Clarke Collection (New Netherlands’ 47th Sale, 4/1956), lot 1195; The Norweb Collection (Bowers and Merena, 11/1988), lot 3024; The Dennis Irving Long Collection (Bowers and Merena, 1/1990), lot 256; 65th Anniversary Sale (Stack’s, 10/2000), lot 876; The Frog Run Farm Collection Sale (American Numismatic Rarities, 11-12/2004), lot 1236. NGC MS-63, the present example.

This coin is fully prooflike in finish and, in fact, the coin was cataloged as a “Proof” in New Netherlands’ 1956 sale of the T. James Clarke Collection. Numismatic scholarship having advanced considerably since the 1950s, we now know that this coin does not qualify as a proof in the strictest sense of the term. On the other hand, the fields are so well mirrored, the strike is so superior for a product of the early United States Mint and the surfaces have been so carefully preserved that we find it likely that this coin was specially prepared for presentation or other important purposes.

Signs of handling are minimal and confined to a few minuscule abrasions and some even lighter hairlines that can be easily explained away as “cabinet friction” or a similar kind of numismatic handling. Of sizeable abrasions there is nothing to report, and the only significant blemish is a small swirl of variegated color in the upper-right obverse field that represents a toning spot caused by a tiny piece of lint that still adheres to the coin’s surface in that area. This feature is the most suitable pedigree marker we can find along with a minor planchet flaw (as made) at the reverse border between the words UNITED and STATES. Otherwise olive-gray in tone, with iridescent undertones of vivid pinkish-lilac and cobalt-blue colors that come into view at more direct angles. An important highlight of this sale, and a coin that would serve with distinction in another world-renowned collection.

NGC Census: just 3; with a further three finer in MS-64. These totals seem to include examples of both the 15 Stars and 16 Stars varieties.

PCGS# 6057.

Ex: Waldo C. Newcomer; Colonel E.H.R. Green; The T. James Clarke Collection (New Netherlands’ 47th Sale, 4/1956), lot 1195; The Norweb Collection (Bowers and Merena, 11/1988), lot 3024; The Dennis Irving Long Collection (Bowers and Merena, 1/1990), lot 256; 65th Anniversary Sale (Stack’s, 10/2000), lot 876; and The Frog Run Farm Collection Sale (American Numismatic Rarities, 11-12/2004), lot 1236.