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. (more…)

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. (more…)

Bowers and Merena will conduct the official auction of the November 2010 Whitman Coin & Collectibles Baltimore Expo. Scheduled for November 4-5 at the Baltimore Convention Center, the sale will present more than 3,500 lots of important United States coins and currency.

“We are thrilled to continue our long-standing and successful partnership with the Whitman Coin & Collectibles Baltimore Expo,” said Greg Roberts, CEO of Bowers and Merena. “This year’s official auction of the November Expo ranks as one of Bowers and Merena’s most important Baltimore auctions of all time. With more than 3,500 lots, our catalog for U.S. coins and currency offers something for everyone, from collectors and dealers on a strict budget to advanced numismatists seeking the finest-known examples of some of the rarest and most famous coins ever struck in the United States Mint.”

Three consignments in particular stand out as defining the importance of the upcoming Baltimore auction. The Kupersmith Once-in-a-Lifetime Collection is a truly amazing offering, the likes of which is rarely seen in even the most prestigious sales, that has at its core six of the rarest gold coins struck in the Philadelphia in 1875. Nearly impossible to assemble such a collection in any grade, the consignor remained committed to quality and selected only the highest-graded examples that he could find, many of which are actually top-of-the-pop.

“Needless to say, it is difficult for us to single out one coin in this collection for each piece qualifies as a highlight, although special recognition must go to the 1875 Three-Dollar Gold Piece in NGC Proof-66 Ultra Cameo,” said Roberts. A pop 1/0 coin at both PCGS and NGC, this coin also ranks as the finest of perhaps just 10 original strikings of the proof-only 1875 Three-Dollar. Not to be overlooked and in addition to the 1875-dated gold set, the Kupersmith Collection will also be presenting a selection of rare proof and business strike Three-Dollar gold pieces, the proofs of which comprise the highest-ranked set on the NGC Registry.

The Malibu Collection offers the #2 collection of Standing Liberty Quarters with full-head designation on the PCGS Set Registry. “Nearly all of the Standing Liberty Quarters in the Malibu Collection are either top-of-the-pop or tied for finest certified, and plus-designated coins are figured prominently throughout the set. Of particular note are the low-mintage 1916 in PCGS MS-67 FH (Pop: 2/1), the conditionally challenging 1919-D in PCGS MS-66+ FH (Pop: 1/0) and the key-date 1927-S in PCGS MS-65+ FH (Pop: 1/2),” said Roberts. Other selections from the Malibu Collection include impressive runs of Seated Liberty Half Dollars and Silver Dollars that feature many key-date and/or conditionally rare pieces. (more…)