High-grade gold from the Ohringer Family Trust collection and other consignments boosted results of Ira and Larry Goldberg’s May 25-28 auction to an overall total of $11,013,585.

A 1930-S Saint-Gaudens $20 from the Ohringer Family Trust consignment, graded MS-64 PQ by Professional Coin Grading Service with Certified Acceptance Corp. sticker, sold for $130,000.

Catalogers had assigned a presale estimate of $120,000-$130,000.

A 1799 Capped Bust $10 with small obverse stars, graded MS-64 by Numismatic Guaranty Corp., went for $115,000. “The present specimen is among the top survivors,” Goldberg sale catalogers wrote, citing an NGC census of four graded MS-64 and none finer.

A 1932 Saint-Gaudens double eagle in NGC MS-66 realized $110,000. “The 1932 Saint-Gaudens is a modern day rarity whose numbers have not been increased over the years by hoards or European stockpiles as have other dates in the series,” catalogers wrote, adding, “Only a few score exist today in all grades.” They referenced a PCGS population of 10 seen in this grade and three finer. Estimate was $110,000-$120,000.

A proof 1899 $20, NGC Proof-65 Ultra Cameo PQ with CAC sticker, brought $95,000. It had a presale estimate of $70,000-$80,000.

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By Bank Note Reporter

Bowers and Merena Auctions‘ June 4-7 auction at the Baltimore Coin and Currency Convention includes more than 500 lots of U.S. paper money, featured among them a high-grade “Porthole” $5 Silver Certificate star note and a serial No. 1 $10 “Bison” Legal Tender Note.

The No. 1 Bison note is Friedberg 114, the first of the nine Friedberg varieties of the type. PCGS Currency graded it Very Fine-30 PPQ.

Sale catalogers wrote that “this example is absolutely free of any problems and its light circulation actually gives the note a bit more character behind its historical significance. The colors are bright, the paper is fully original and the eye appeal is extremely pleasing. Because the top and bottom margins are incredibly uneven but remain full, we feel this note might have been hand cut and presented possibly to dignitaries.” B&M has assigned a pre-sale estimate of $75,000-$125,000.

The “Porthole” Series 1923 $5 Silver Certificate star note, Fr. 282, is graded PCGS Currency Superb Gem New-67 PPQ. “With huge boardwalk margins, superb inks and paper quality and enough embossing to please even the pickiest of collectors, we actually question whether or not this note would qualify for a slightly higher grade,” catalogers wrote, estimating it to bring $30,000-$50,000.

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By Bill Waring [a hobbyist from Milwaukee]

For those who thought they had seen everything with coin grading, we now have fourth-party graders! Before we had grading companies it was pretty simple. It took two parties for coins to change hands – the buyer and seller plus a price list based on the state of preservation of the coin. Human nature typically had the seller lean on the better state of preservation of the coin (higher value) while the buyer often would estimate a lower grade (less cost).

The coin industry promoted the idea of an independent appraisal of coin (third-party grading) because it would simplify coin transactions and even promote sight-unseen trading of coins. It’s been over 20 years since companies started for a fee to evaluate a coin and assign a grade. The earliest was a non-profit service by the American Numismatic Association that would return the coin in a simple flip with a card with photograph of the two sides of the coin and a grade assigned to each side of the coin. The back of the card had a long disclaimer stating coin grading is subjective and there is no guarantee that the grade assigns a value. The reality was that a coin grade become a starting point to determine the value of the coin when a price listing was used.

In the 1980s this first ANA grading service was quickly followed by for-profit companies that would seal the coin in a plastic holder, or slab, and give on overall grade to the coin. We now have numerous grading companies all using plastic sealed holders. Some of these companies are considered to be reliable while others border on fraudulent with over grading of coins and unwillingness to state what standards they use to grade their coins. In fact, anyone can purchase their own plastic holders and put a name and grade on them. Even among the companies that by consensus are considered reliable, there are coins that seem to be either a little over graded or under graded.

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