Coin Collecting News » Heritage Auctions

Dr. Norman Jacobs Collection of Korean and Japanese Coins on display at NYINC

Heritage Auctions — Mon, 27 Dec 2010 14:36:42 +0000

Heritage Auctions has announced that we will be auctioning The Dr. Norman Jacobs Collection of Korean and Japanese Coins, the most important collection of its kind, from one of the most famous Asian numismatic experts to have lived. This collection will be featured in our September 2011 Long Beach Signature Auction.

The groups of coins from both nations individually represent possibly the most complete sets of Japanese and Korean coins and currency ever assembled, and most likely the most important numismatic offerings of both countries in the last half century.

Collectors will not have to wait 10 months to get a look at these amazing coins, however, as highlights will be on display at the New York International Numismatic Convention, at the Waldorf-Astoria, Jan. 6-9, 2011, in conjunction with our New York Signature World and Ancient Coin Auction. This appearance will be the beginning of a “world tour” for the coins, as they visit the Chicago International Coin Fair, April 13-16, 2011, heading to Tokyo in May and coming home for the ANA World’s Fair of Money in Chicago, Aug. 15-21, 2011.

“Collections such as Dr. Jacobs’ is what we live for here at Heritage,” said Cris Bierrenbach, Vice President of International Numismatics at Heritage. “Handling the incredible Asian rarities that Dr. Jacobs dedicated his numismatic life to is a great honor to us. The World Coin department at Heritage, along with our entire company, will be working hard to produce a catalog and an auction that match the fantastic accomplishments of Dr. Jacobs in Korean and Japanese numismatics. The next 10 months are going to be a great ride.”

In 1953, Dr. Jacobs (along with Cornelius Vermeule) wrote the first English language book on Japanese numismatics that covered both ancient and modern coins. It was also the first publication (in any language) to catalog Japanese coins by date and type. That book opened up the world of Japanese (and modern Korean) coinage to western collectors.

The principle highlight of the auction comes from the Korean collection: a unique set of 1909 Korean gold in 5, 10 and 20 Won denominations — the only other set in existence is in the collection of the Bank of Japan.

“The vast majority of these coins, and the core of the collections, were purchased in the 1940s and 1950s,” said Bierrenbach, “during Dr. Jacobs’ time in Asia. He also added significantly to his collection when he worked with Robert Friedberg at Capital Coin of New York in the 1950s. So the vast majority of the ultra rarities have been in his collection for 50+ years.”

Coin Profiles: Unique 1834 Original Half Dollar O-104, Ex: Brand, Norweb

Heritage Auctions — Mon, 20 Dec 2010 13:12:36 +0000

1834 Capped Bust Half Dollar PR65 NGC. O-104, Unique as a Proof.

Only a few proof 1834 half dollars are known, mostly restrikes from the dies used to produce the Crushed Lettered Edge coins. In the catalog of the George “Buddy” Byers Collection (Stack’s, 10/2006), the cataloger enumerated these Overton varieties used to produce the Crushed Lettered Edge restrikes, of which at least 10 pieces survive in all: O-101, O-103, O-104, O-106, O-114, and O-122.

The cataloger also included five Overton varieties known for the 1834 proof half dollars, each unique original coins, that were not CLE restrikes. Those varieties include: O-101 (Large Date, Large Letters, ex: Floyd Starr), O-103 (Large Date, Large Letters; in the King of Siam set), O-104 (the present piece, from the Norweb Collection), O-106 (Large Date, Small Letters; the Byers coin), and O-114 (Small Date, Small Letters; Bowers and Merena, 8/1991, lot 2268). Each one of those unique proof original half dollars is much, much rarer than the 1834 Crushed Lettered Edge restrikes.

The present coin is one of those original pieces, unique as far as we can determine. The catalogers in the Norweb Collection sale described it in this way:

“1834 O-104. Large Date, Small Letters. Proof-64/65. A glittering gem specimen with full Proof surface on all areas, including within the shield stripes on the reverse. This piece is breathtakingly beautiful and is toned a delicate blend of muted rainbow colors, ranging from magenta at the center, to electric and gunmetal blue, to gold at the borders.

“Perhaps unique as a die variety; Walter Breen did not know of other examples, but he was aware of this one, as he participated in the sale of it to Mrs. Norweb. “Here is a superb gem coin, a half dollar for the ages.”

Technical Description: Large Date, Small Letters. The 4 in the date is tall and recut, with the 18 wider than 834. The 4 is higher. The Overton reference describes the date “with an open 3 and extra tall tapered 1″ a half-millimeter from the drapery, “the closest of any large date 1834.” On the reverse the top of the C in the denomination is close to the olive stem. The I is centered left of the crossbar of the T. This die lacks the die lump normally seen on business strikes under TE, providing evidence that this proof was struck first. The thin left stand of the M is joined at its base to the center stand.

The coin realized $28,600 in the Norweb sale, a remarkably strong price for the time. We would add little to that glowing description–which is nonetheless completely accurate–except to say that the surfaces are little changed in 22-plus years, and to mention that the strike is virtually complete in all areas, save for trifling weakness on some peripheral obverse stars and the tops of 50 and C on the reverse. For the most advanced half dollar specialist, this coin could form the start of a marvelous adventure, trying to acquire as many different proof Overton varieties of the year as possible. Almost certainly the rarest single coin in this incredible set. Census (all varieties): 2 in 65, 1 finer (11/10).

Ex: Virgil Brand Collection; New Netherlands Coin Company (11/1954); Mrs. R. Henry Norweb, Jr.; Norweb Collection (Bowers and Merena, 11/1988), lot 3107, which realized $28,600. (#6217)

This coin will be sold on Platinum Night by Heritage at the 2010 Fun Auction as lot # 5332

Historic proof sets and ‘Stella’ pattern coins present momentous opportunities for collectors at FUN

Heritage Auctions — Mon, 20 Dec 2010 12:36:22 +0000

1834 and 1846 proof sets from private collection released as part of Heritage’s Jan. 6 FUN Platinum Night offerings in Tampa, FL

Two rare early proof sets and a remarkable set of six pattern coins associated with the famous “Stella” coinage experiment are important collective highlights of Heritage’s Tampa FUN Platinum Night U.S. Coin Auction, Thursday, Jan. 6, 2011.

“All three of these sets have remained intact from the time of issue,” said Greg Rohan, President of Heritage. “It’s amazing to be able to see an 1834 proof set all at once, or the three coins of an 1846 proof gold set, or a six-coin set of Stella patterns. We understand that many collectors are interested in particular coins rather than sets, so we’ve chosen to offer the pieces from these sets as individual lots. It wouldn’t surprise me, though, if a single buyer were to keep one of the sets together.”

The earliest set is an 1834 eight-piece proof set, half cent through half eagle, with grades ranging from PR63 to PR65 NGC. While this proof set does not include the denominations included in diplomatic presentation sets of that year – namely the legendary 1804-dated silver dollar and gold eagle – it does include eight denominations, all extremely rare: the half cent, large cent, half dime, dime, quarter, half dollar, quarter eagle, and half eagle.

“Perhaps four or five of these non-diplomatic sets were issued,” said Rohan. “All the rest were broken up long ago. Depending on who buys these coins, this may literally be the last chance for collectors to bid on one of the non-diplomatic sets while it’s still intact.”

The second set, smaller but just as important in its own fashion, is a three-piece gold proof set from 1846. It contains the three gold denominations struck that year, the quarter eagle, half eagle, and eagle, and each coin is graded PR64 Cameo by NGC. The three-coin gold set was part of a larger 10-coin complete proof set that was last offered as part of the legendary John Jay Pittman Collection. The coins trace their origin all the way back to an 1892 sale by Ed Frossard.

“Today’s collectors have a chance to make these incredibly rare 1846 gold coins part of their collections,” said Rohan. “The half eagle, for example, is the only proof specimen not in a museum collection. We hope the winning bidders enjoy the same pride of ownership that Pittman displayed.”

Chronologically last, but of similarly momentous importance, is a set of five pattern pieces dated 1879 and 1880 and related to the famous proposed international trade coin, the four dollar or “Stella.” The first five coins, all very rare or extremely rare, were made of copper and later gilt. They grade PR62 to PR64 and include a Judd-1636 1879 Flowing Hair four dollar, a Judd-1639 1879 Coiled Hair four dollar, a Judd-1658 1880 Flowing Hair four dollar, a Judd-1661 1880 Coiled Hair four dollar, and the legendary Judd-1644 1879 quintuple stella – a trade-coin spin on the existing double eagle.

“All of these coins are of great importance,” said Rohan. “The gilt copper 1879 Flowing Hair Stella, for example, is far rarer than its gold counterpart, and the quintuple stella has one of the most illustrious reputations in the entirety of pattern collecting. Our lot viewing will offer a remarkable opportunity to see all five of these gilt copper patterns at one time.”

The last pattern is also gilt, but the base metal is aluminum rather than copper. It is a Judd-1637 1879 Flowing Hair four dollar, PR64 NGC, and it may be unique as a gilt coin.

“We have records of four non-gilt aluminum examples, all with illustrious pedigrees,” said Rohan. “Yet we have found no mention of another gilt aluminum example of the Judd-1637. It may well be a unique pattern of the highest importance.”

Heritage Auctions, headed by Steve Ivy, Jim Halperin and Greg Rohan, is the world’s third largest auction house, with annual sales more than $600 million, and 500,000+ online bidder members. For more information about Heritage Auctions, and to join and gain access to a complete record of prices realized, along with full-color, enlargeable photos of each lot, please visit HA.com.

Coin Profile 1804 Bust Quarter, Single Finest Certified B-1, Ex: Colonel Green

Heritage Auctions — Tue, 14 Dec 2010 17:09:33 +0000

Colonel Edward Howland Robinson Green (better known as Col. E.H.R. Green or, more simply, Col. Green), was the son of Henrietta Howland Robinson Green, née Henrietta Howland Robinson (1834-1916). She, too, is known more simply as Hetty Green, and even more familiarly as the “Witch of Wall Street.” Hetty Green was connected on the Howland side of her family to one of the great merchant families of New England. She grew up in a Quaker household, noted for its austerity.

Upon their deaths in 1865, her father and maternal aunt willed to her a total of about $10 million. Even after her 1867 marriage to Edward H. Green, she kept her finances separate, managing them herself with single-minded monomania. Her father and grandfather had educated her in finance from early childhood, and she dedicated herself to expanding that fortune. As her wealth increased, she continued to live with her son and daughter in modest surroundings, avoiding all social contacts or displays of wealth. In time she became a major force on Wall Street, despite which she often appeared in public in shabby garb and sought medical treatment for herself at charity clinics. She left an estate valued at more than $100 million when she died in 1916, reputedly the world’s richest woman.

“Extremely rare grade and one of two finest known of just three, possibly four known in full Mint State. Certainly the most famous specimen and long thought to be clearly the finest.”

The most often-repeated story concerning her penury is that concerning her son Edward, whom she refused to take for medical treatment, resulting in the need for his leg to be amputated. Col. Green was born the year following Hetty’s marriage to Edward Green, during his parents’ tour of Europe.

By age 25, Col. Green had been admitted to the bar and become president of the Texas Midland Railroad (his mother Hetty had owned many railroad stocks during her lifetime). He was active in Texas Republican politics, served as chairman of the Texas Republican State Committee, and was a director of the St. Louis Exposition of 1904. In order to maintain a Texas residence, he kept a suit of clothes and one of his wooden legs in a “fine residence” in Terrell, Texas. He died at age 68 in Lake Placid, New York.

At the time of his death–with a total estate valued at more than $40 million–his coin collection was valued at an estimated $5 million, along with a stamp collection worth $3.5 million. Green’s numismatic holdings included at least seven different 1838-O half dollars, a Brasher doubloon, all five of the 1913 Liberty nickels, and a staggering hoard of 1796 quarters, said to number more than 200 pieces.

This wonderful coin, also pedigreed to the Col. Green collection of early quarters, is the Browning-1 variety, with the 4 in the date low and a die cut between stars 8 and 9 seen on all examples. Although not as famous (because neither a single-year type nor a first year of issue) as the 1796 quarters, the 1804 quarters are many times rarer in Mint State than the 1796 pieces.

This coin is sharply struck, save for at some of the denticles, as usually seen, and wonderful steel-blue and pinkish-purple iridescent patina covers both sides. Bold die clashing is visible along the upper bustline, creating a “collar” effect on Liberty similar to the 1800 BB-196 Bust dollar variety. Lesser (but still dramatic) clashing is visible on the reverse as well.

As of (10/10) NGC has certified 31 Mint State 1796 quarters, compared only five Mint State 1804s, of which this is the single finest by two grade points. At PCGS, there are 33 Mint State 1796 quarters, compared with only eight Mint State 1804s. This is the single finest 1804 quarter certified at either NGC or PCGS.

By way of further comparison, there are 15 Mint State 1796-97 Small Eagle half dollars (long acknowledged as the rarest silver type coin) certified at NGC, along with nine Mint State Small Eagle halves at PCGS. This is, in conclusion, a monumental early Bust quarter, a coin whose rarity, historicity, and numismatic importance simply cannot be overstated.

Ex: Col. E.H.R. Green; Stack’s (1945); Jerome Kern Collection (B. Max Mehl, 1950), lot 1385; Eugene Gardner Collection (Stack’s, 2/1965), lot 1620; H. Philip Speir estate (Stack’s, 3/1974), lot 2, which brought $16,500; 1975 ANA Sale (Superior, 8/1975), lot 352, which realized $10,500; Central States Signature (Heritage, 4/2008), lot 2274, which realized $310,500. From The Joseph C. Thomas Collection, Part Two. (#5312)

This coin is being sold at auction in the 2011 January Tampa FUN Signature & Platinum Night sale #1151 as Lot 14022

Heritage’s World and Ancient Coin Auction in NYC

Heritage Auctions — Mon, 13 Dec 2010 16:05:57 +0000

International numismatic treasures highlighted by rare German, Polish and South American coins, as well as the largest gold coin in the world, a Chinese 321+ ounce Beijing Olympics gold 100,000 Yuan

DALLAS, TX – As the profile of Heritage Auctions’ World & Ancient Coins category has continued to skyrocket over the last few years, each consecutive offering has raised the bar significantly. With the Jan. 3-4 New York Signature? World & Ancient Coin Auction at the Waldorf Astoria, coinciding with the New York International Coin Show (NYINC), Heritage has not only assembled its largest World Coin auction to date, it has also once again raised the bar in terms of absolute quality.

“With more than 5,000 total lots in this auction we have literally scoured the planet for the best possible international numismatic offerings,” said Cristiano Bierrenbach, Vice President of International Numismatics at Heritage. “The incredible scope of countries represented, and the depth to which the collections go is so advanced that putting this catalog together was like a getting a graduate degree in world numismatics at a crash course pace.”

More than 240 consignors have placed coins in the auction, most of which will be on display for lot viewing, Dec. 29 and 30, at Heritage’s jewelbox New York space at 445 Park Avenue (at 57^th). To further entice International coin collectors, Heritage will have highlights from the upcoming auction the Norman Jacobs Collection of Korean and Japanese Coins, the most important collection of its kind, on display at the NYINC, January 6-9, at the Waldorf-Astoria.

A Polish Sigismund III gold 10 Dukats 1588, Fr-83, XF45 NGC represents one of the superb early highlights of the auction. This exceedingly rare type, with its clean lines and striking imagery is appealing as much for its numismatic value as for its artistic value, and is sure to be the subject of spirited bidding. It carries an estimate of $175,000+.

Collectors of European coins will certainly be interested in a German Bird of Paradise Colonial gold 10 Marks 1895A, Date and value in palm wreath, Fr-2, KM8, MS66 NGC, a superb example of this extremely popular issue, considered by many to have the most beautiful of all modern coin designs, with a $30,000+ estimate. One of the most important Russian offerings in the auction comes in the form of a Choice Uncirculated Peter I Rouble, 1720, Bust right/Crowned Imperial eagle, nails on sleeve in one line, Diakov 16, PETR 4, UZD 0588. MS64 NGC, which comes with a $60,000+ estimate and represents one of the nicer pieces of this type ever seen by Heritage specialists.

An amazing Leopold I (the Hogmouthed) medallic gold 15 Ducats ND (1666-1705), 51.92 gm, AU58 NGC is expected to be one of the most highly sought-after coins of the auction, with an estimate of $150,000+. Leopold reigned as Holy Roman Emperor from 1658 to 1705, a period marked by constant military conflicts, including the Great Turkish War, the Nine Years’ War, and the War of Spanish Succession.

A complete set of the 1646 Brazilian Ducats, three incredible relics of the Dutch siege of Brazil in the early 1600s, have already created quite a buzz within the international numismatic community in anticipation of their being offered. The rarest denomination in the series is the Pernambuco. Geoctroyeede West-Indische Compagnie (GWC) 3 Guilders (Florins) 1646, KM5.3, Fr-3, choice XF,1.81 grams, one of the one of the great Brazilian/Dutch rarities and a coin with tremendous charisma, estimated at $30,000+. A Pernambuco. Geoctroyeede West-Indische Compagnie (GWC) 6 Guilders (Florins) 1646, KM6.2, Fr-2, better EF, 3.69 grams, is estimated at $20,000+, while a Pernambuco. Geoctroyeede West-Indische Compagnie (GWC) 12 Guilders (Florins) 1646, KM7.1, F-1, AU, 7.52 grams, possibly the finest known 12 Florins in existence, is estimated at $30,000+.

One of the most hotly anticipated lots in the auction comes in the form of one of the largest gold coins in the world, a massive People’s Republic 10kg (321.17 ounces) gold 100000 Yuan 2008, KM1842, Gem Proof, struck to commemorate the first Olympic Games in China, the XXIX Olympiad in Beijing in 2008.

The obverse features the title of PRC, the common year date “2008,” decorative design of the Chinese ancient bronze ware and the colored emblem of the Games. The reverse features a myriad of sporting events in the foreground, with the Temple of Heaven in Beijing and dragons in the clouds. The coin carries a pre-auction estimate of $600,000+.

“This is an awe-inspiring coin,” said Bierrenbach, “and the display case only adds to its allure. Crafted from African Blackwood and finished with intricately carved Chinese ornamentation, this is a masterpiece in its own right crowned by a Chinese dragon carved from Shousan stone, the national stone of China. The art of Shousan stone carving traces as far back as the Ming Dynasty, when the carvings were used to create royal seals.”

Further highlights include, but are not limited to:

Vittorio Emanuele III gold 100 Lire 1937R XVI, KM84, Fr-36, MS65 NGC: Reduced size, a superb example with flawless satiny surfaces and full mint brilliance. Very rare type and grade, only 249 minted. Struck following the conquest of Ethiopia depicting a Roman carrying the fasces symbolic of the Italian government. With the issue of this coin, Vittorio Emanule III added the title of Emperor to his stature as King. Estimate: $35,000+.

Empire Silver Pattern Dollar (1910), Kann-219, L&M-24, Proof 62 PCGS: A very attractive example with silvery-gray and gold patina and only faint hairlines in the obverse fields. A rare and ever popular type struck at the central Tientsin Mint. Estimate: $10,000+.

Republic gold 20 Pesos 1888 Go-R, KM414.4, unlisted date and moneyer, MS62 NGC: Semi-prooflike luster, sharp strike with full details except in the very center of the Book of Laws, consistently high rims all around, glowing light-yellow gold color, some abrasions and very faint hairlines, some flattening on the eagle and snake from the rolling process at the mint, and a long deep minting flaw diagonally on the eagle’s left wing. As far as Heritage research can determine, there have been no public sales, or offerings of a 20 Pesos of this date and mint for the last 60-70 years, thus the coin is believed to be unique. Estimate: $25,000+.

Gela. Ca. 415-405 BC. AR tetradrachm (17.22 gm): Quadriga racing left in three-quarter view, third horse with head turned back, eagle flying left above, grain ear left in exergue / ?E?A?, man-faced bull standing left, two barley plants before him, barley grain in exergue. Among the finest known examples of this unique reverse type, represented by only a single die. Ex Gemini V (6 January 2009, lot 331). Ex American Numismatic Society collection (inv. #1997.9.5). From the estate of John D. Leggett, Jr. Estimate: $30,000+.