Exactly five Indian cents are known on gold planchets, according to information available. Among them are three dated 1900, this piece dated 1905, and an example dated 1906.

The Judd pattern reference lists 1900 and 1907 gold cents in the section on mint errors. However, Andrew W. Pollock, III listed the 1900 gold Indian cents as P-1990 in the regular pattern section of his reference.

Pollock writes: “Listed in Judd as a mint error, but it is difficult to imagine that a Mint employee would be so careless as to feed gold planchets into a coinage press fitted with one-cent piece dies.” Pollock suggests that these pieces may have been deliberately struck for one or more collectors.

One example dated 1900 is also known in silver, from the identical dies as the 1900 gold Indian cents, suggesting they were all made at or near the same time. Rick Snow writes in A Guide Book of Flying Eagle and Indian Head Cents that “both the silver and gold examples are struck from the same dies, with light roughness on the reverse die, probably from die rust.” That all three 1900 pieces have higher weights suggests that they were specially made, perhaps without the knowledge of Mint officials.

Fred Weinberg explains that “the weights vary because in all probability, they were on planchets that might not have been filed down to the proper weight spread.” Hand adjusting of individual gold planchets continued in the Mint until circa 1910. Those three pieces are almost certainly fancy pieces made for collectors, while the 1905 and 1906 examples, on correct weight planchets, are more likely pieces truly made in error, and substantially more important as such. (more…)

Edited by Heritage Chief Cataloger Mark VanWinkle, with essays by Michael L. Carboneau, James C. Gray, John Dannreuther and Saul Teichman and illustrated by the collection of Julius Korein, M.D

Few varieties of U.S. coinage have been the subject of as much speculation, controversy and admiration as Gobrecht dollars.

Now Heritage Auction Galleries and Ivy Press have released the 136-page book Gobrecht Dollars, the most thorough review to date of the existing scholarship on these much sought-after U.S. coins.

“This reference book, the result of five-and-a-half-years of work, is intended for the general numismatist that is looking for a deeper understanding of these fascinating coins,” said Mark Van Winkle, editor of the tome and Chief Cataloger at Heritage Auctions. “It gathers together the diverse threads of the Gobrecht story without delving into the more speculative areas of die markers and their possible consequence for establishing emission sequences.”

The overriding question of emission sequences is an area that is, and has been, under investigation for some time and, it is reasoned, will eventually lead to a generally accepted striking order.

“Without a doubt this book is important to a wide range of numismatists, as this information has never been presented together so thoroughly,” said Van Winkle. “It is not, however, the last word on this fascinating series.”

The book brings together all the best known writings on Gobrecht dollars from the past 20 years and is based upon a series of three articles written by Jim Gray and Mike Carboneau in 1991, 2000, and 2001 and expounded upon by those two writers, along with scholarship by Van Winkle, John Dannreuther and Saul Teichman. The book brings together the most up-to-date findings about Gobrecht dollars based on the coins themselves as primary sources, rather than secondary sources (some of which date to 1860).

“Dannreuther makes a special contribution,” said Van Winkle, “with his articles dealing with the die clash line on the reverse of some 1836 dollars, previously thought to be a die scratch, as well as his discovery of the effacement of Gobrecht’s name from the post-1836 dies.” (more…)

1879 Flowing Hair stella leads the way with $161,000; strong prices signal optimism in the market

With a sell-through rate of 90% by lot and 88% by dollar value, and almost 3300 bidders, Heritage Auctions’ Oct. 23-24 Dallas Signature® U.S. Coin Auction soared to $8.7 million total. All prices include a 15% Buyer’s Premium.

The impressive tally is a good sign for the coin market and provides strong momentum as the numismatic world prepares for the January FUN auctions, long a solid indicator of the overall strength of the business and a benchmark by which to judge the coming year.

“We saw some very strong prices in some unexpected areas,” said Greg Rohan, President of Heritage Auctions. “The rare coin market seems to be almost fully recovered in many areas, and perhaps even headed for record price levels next year.”

A stunning 1879 Flowing Hair stella struck in gold, Judd-1635, Pollock-1833, PR65 NGC was the top lot of the Heritage Auctions event, with a price realized of $161,000 for this international trade coinage pattern, which bears a Flowing Hair portrait of Liberty by Charles Barber. Demand for the issue is far greater than the supply; only a few hundred of the gold 1879 Flowing Hair stellas were minted and distributed, mainly to interested members of Congress.

A 1925-S $20 MS66 NGC Saint-Gaudens double eagle, one of the prime condition rarities in the series, illustrated the continued demand for prime examples of these numismatic masterpieces, and that collectors are willing to pay significant sums to obtain the best specimens as it realized $149,500. The 1925-S is more available to collectors in circulated condition than Mint State, unusual for mintmarked double eagles of the time period, and high-grade survivors are prized rarities. The 1925-S in the Dallas auction is tied for the fourth best known of its kind.

Collectors were also closely following a 1927-S $20 MS66 NGC in the Dallas auction, and the result was spirited bidding that resulted in a $109,250 total. In today’s market, the 1927-S double eagle is somewhat overshadowed by its close cousin, the 1927-D, though 50 years ago the 1927-S was thought to be the greater rarity. Probably only 160-170 specimens of the 1927-S double eagle survive today. (more…)