BOWERS AND MERENA’S BEVERLY HILLS RARITIES AUCTION PUSHING OVER $3.3 MILLION

IRVINE, Calif. Bowers and Merena Auctions hosted their Beverly Hills Rarities Sale on Saturday, September 13, 2008, at The Tower Beverly Hills. The 933-lot auction of high-end rarities realized a total of $3,317,135.

The spotlight of the auction was on the new discovery 1851 Augustus Humbert $50 Gold piece of the Reeded Edge, 880 THOUS (K-5, Rarity-5) variety graded MS-65 * by NGC that realized $460,000 after an excited round of bidding. Prior to the auction, NGC chairman Mark Salzburg called it “the most memorable coin I have graded all year.” It is the only Humbert gold coin of any denomination with an NGC grade of MS-65 *, and no Humbert gold coins of any denomination or variety have been graded finer than MS-65 at either PCGS or NGC.

“A new discovery piece the caliber of this Humbert is so special and rare that I can think of only a very few in this league that I have come across in my 40-year span in the business,” said Steve Deeds, president. “It is very exciting to be able to present a coin like this to the world of collectors who will appreciate it for its history and value to the numismatic community. This is a showcase piece for its new owner and one that will be remembered for years to come.”

Also at the top of the list is an impressive near-Mint preservation 1859-O Liberty Double Eagle, Winter Variety One, the only known dies, from the Centennial Collection and graded AU-58 by NGC that realized $97,750. The 1859-O is a leading rarity in the New Orleans Mint Double Eagle series. A mere 75-85 pieces are believed extant in all grades – a total that confirms the 1859-O as rarer than all other O-mint coins of this denomination with the exception of the 1854-O, 1855-O, and 1856-O. The ‘59-O is equally as elusive as the lower-mintage ‘79-O of the Type III design.

Following close behind the 1859-O is an 1854 Liberty Double Eagle, Large Date in NGC MS-64, also from the Centennial Collection, that realized $96,600. An elusive variety in all grades, this extraordinary representative is among the finest known with a combined PCGS and NGC Population of just 3, and none are finer at either service. (more…)

Auction Features Two Outstanding Collections, “The East Bay Collection of International Banknotes” and “The Eduard Kann Chinese Banknote Collection”

IRVINE, Calif. – Bowers and Merena Auctions, America’s leading rare coin and currency auction house, will conduct an auction of exceptional international banknotes in New York City on October 27-28, 2008, with lot viewing at the auction site October 25-28. The auction is compiled of two premier collections, “The East Bay Collection of International Banknotes” and “The Eduard Kann Chinese Banknote Collection,”consisting of more than 2,000 total lots. It will be held at the Hilton Times Square, with live auction simulcasts at the John Bull Auctions offices in Quarry Bay, Hong Kong, and the Heinrich Köhler Auktionshaus offices in Wiesbaden, Germany. Pre-auction lot viewing will be available in multiple locations around the world, including California, Germany and Hong Kong, as well as at the Maastricht Paper Money Show in the Netherlands, the PCDA Paper Money Convention in St. Louis, Mo., and prior to the auction in New York. The auction will be spearheaded by Bowers and Merena in conjunction with sister companies John Bull Auctions, Ltd., of Hong Kong, and Heinrich Köhler Auktionshaus of Germany. Complete lot viewing and auction schedules are available at www.bowersandmerena.com.

“The East Bay Collection” is believed to be the largest collection of international banknotes ever to come to market. Assembled over the course of 40 years by a private collector in Northern California, it consists of more than 30,000 notes representative of over 150 countries. The entire collection will be auctioned over the coming year in multiple auctions around the world, debuting in this October auction with Chinese and related Asian banknotes and Russian and European banknotes.

“The East Bay Collection” was secured by Ronald J. Gillio, numismatic acquisition coordinator for Bowers and Merena Auctions and world coin and banknote specialist. “The scope of this collection is absolutely wonderful in both quantity and quality, and without question the most comprehensive collection I’ve ever known,” said Gillio. “The Russia and China sections constitute by far the strongest groupings of the collection,” he added. There are approximately 2,800 Chinese banknotes and 2,500 Russian banknotes included in the collection. (more…)

Highlights Include Extraordinary Gem 1851 Augustus Humbert $50 Gold Piece, the Only Humbert Gold Coin of Any Denomination or Variety Graded MS-65 * by NGC

IRVINE, Calif. – Bowers and Merena Auctions, America’s leading rare coin and currency auction house, will host their Beverly Hills Rarities Sale on Saturday, September 13, 2008, at The Tower Beverly Hills, prior to the Long Beach Coin, Stamp & Collectible Expo. Lot viewing for the entire auction is scheduled for Thursday through Saturday, September 11-13. The catalog includes more than 900 exceptional coin rarities

Topping the list of highlights is a very special new discovery, Lot 681, an August Humbert, $50 Gold piece of the Reeded Edge, 880 THOUS (K-5, Rarity-5) variety graded MS-65 * by NGC. It is the only Humbert gold coin of any denomination with an NGC grade of MS-65 *. No Humbert gold coins of any denomination or variety have been graded finer than MS-65 at either PCGS or NGC. “This was the most memorable coin I have graded all year,” said Mark Salzberg, NGC chairman.

A legendary Gem Mint State 1893-S Morgan also stands out as Lot 497. Certified by NGC, and described in the catalog as “a solidly graded MS-65,” this important piece has a combined PCGS and NGC population of just 7/3. With just 100,000 pieces produced, the 1893-S has the lowest business strike mintage in the entire Morgan Dollar series (discounting the unknown 1895).

Also worthy of special mention is Lot 850, an 1861-S Liberty Double Eagle, Paquet Reverse, in NGC AU-55. It is the rarest Type I Double Eagle struck in the San Francisco Mint with just 19,250 examples released and only 90 to 100 coins believed to exist today, not a single one of which is Mint State. It is also rarer than all other Type I Twenties with the exception of the 1854-O, 1855-O, 1856-O, 1859-O and 1860-O. The NGC Census is 12 with 10 finer, the finest of which grade AU-58. There are also no Uncs known to PCGS.

“This is a great selection of coins and this new discovery Humbert is one that will be remembered and talked about for years to come,” said Steve Deeds, president of Bowers and Merena. “I’ve been in this business for 40-plus years now and I know that finds of this magnitude are rare.” (more…)

The Highest Graded Mint State Humbert Gold Coin of Any Denomination or Variety Graded MS-65 * by NGC

IRVINE, Calif. – Bowers and Merena Auctions, America’s leading rare coin and currency auction house, will auction an extremely rare and exceptional 1851 Augustus Humbert $50 Gold Piece at their Beverly Hills Rarities Sale on Saturday, September 13, 2008, at The Tower Beverly Hills, prior to the Long Beach Coin, Stamp & Collectible Expo. Lot viewing for the entire auction is scheduled for Thursday through Saturday, September 11-13.

The coin, cataloged as August Humbert. $50 Gold. Reeded Edge. K-5. Rarity-5. 880 THOUS. MS-65 * (NGC), boasts a combined PCGS and NGC Population (1851 $50 Reeded Edge, 880 THOUS variety only) of just 1; 0 finer.

“This coin is a new discovery that has never been available for sale to our knowledge,” said Steve Deeds, president of Bowers and Merena. “The rarity, the quality, the history – it all adds up to make this one spectacular coin of the caliber that even the most experienced numismatists only see a few times in a lifetime. This coin is one of the high points of the year at Bowers and Merena and we know it is going to a cause a big buzz for our September Beverly Hills Rarities Sale.”

Fewer than 100 August Humbert Fifty-Dollar gold coins of all varieties have been certified as Mint State by PCGS and NGC, and the actual number of individual coins is probably only 60-70 pieces considering resubmissions of the same example(s) in attempts to secure a higher grade. Most of those coins, while strictly Mint State in that their surfaces are free of wear, are confined to lower grades through MS-63.

Distracting abrasions (some severe) bear much of the blame for this grade distribution, but subdued, lackluster surfaces are also seen quite frequently. Given the rustic conditions under which it was created, the strained economic conditions of Gold Rush California, and the various standards of numismatic conservation that have existed over the years, this Gem 1851 880 THOUS Humbert Fifty offered by Bowers and Merena should not exist. (more…)

Top Coin and Currency Honors Go to 1918/7-D Buffalo Nickel in PCGS MS-64 at $155,250,  and 1928 $500 PMG Gem 65EPQ Uncirculated Gold Certificate at $97,750

IRVINE, Calif. – Bowers and Merena Auctions, America’s leading rare coin auction house, hosted their Baltimore Rarities Sale on July 26, 2008, at the Baltimore Marriott Waterfront, just prior to the ANA World’s Fair of Money. The auction presented approximately 1,100 coin and 200 currency lots and realized a total of $4,427,243.

Earning top dollar was Lot 384, a 1918/7-D Buffalo Nickel, FS-016.5, graded MS-64 by PCGS that realized $155,250. A major condition rarity, this near-Gem is easily among the finest-known survivors of the variety, with a PCGS Population of 31 and a mere three finer in MS-65. Lot 1093, a 1795 Capped Bust Right Half Eagle, Small Eagle, BD-8, HBCC-3041, Miller-10, Rarity-5+, graded MS-63 PL by NGC, realized $146,625. Described as “a really a nice coin” and a rarer die pairing of this historically significant and extremely popular federal gold issue, it is one of only four in the NGC Census, and a mere two finer with a PL designation as part of the grade. Also notable was Lot 1014, a 1796 Capped Bust Right Quarter Eagle, BD-2, HBCC-3002, Rarity-4, No Stars in NGC AU-53 that realized $109,250.

Currency was also in the spotlight, with Lot 164, Fr. 2407, 1928 $500 Gold Certificate, PMG Gem Uncirculated 65EPQ realizing a very impressive $97,750. Truly Uncirculated $500 1928 Gold Certificates are rare, with only three of this number certified at the “65″ level, and only a single example has ever earned a certification any higher from PMG, making this specimen an extremely scarce item in a superior grade attested to by PMG.

“Our Baltimore Rarities Sale came right on the heels of our Official Baltimore auction in June, which brings our total for the past two months to almost $10.7 million,” said Steve Deeds, president of Bowers and Merena. “Both auctions were very active and both conventions have been busy and productive, as well, and I’m happy to see such prosperity and enthusiasm within the industry.” (more…)