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…)

by Greg Reynolds for CoinLink

This is the third part of a series of articles on coins in the auctions that will be conducted before the ANA Convention begins on July 30th in Baltimore.

The first issue of U.S. silver dollars in 1794 is very famous. B&M will be offering a PCGS graded Fine-15 1794 dollar. In the Superior sale, there is a 1794 dollar that is authenticated, though not graded, by the PCGS. It may have serious problems, but is still worth a great deal as there probably are fewer than one hundred and fifty 1794 dollars in existence, and many thousands of collectors demand bust dollars.

Stack’s is offering eight 1795 dollars, three of the Flowing Hair type and five of the Draped Bust type. Superior is offering two of the Flowing Hair type and one of the Draped Bust type. B&M is offering one of each. Someone who cannot afford a 1794 dollar may be able to acquire a reasonably priced 1795 dollar in Baltimore.

Though rare die varieties of silver dollars have been ‘in the news’ over the past couple of years, there is not space here for a discussion of die varieties, or even for a description of one. Those who are interested may wish to learn about the Robert Hesselgesser collection of bust dollars by die variety. It is ranked number one in the PCGS registry and images of Hesselgesser’s coins may be studied at the PCGS website. Some of Hesselgesser’s bust dollars will be on display at the Goldbergs’ table at the ANA Convention.

In the B&M pre-ANA auction, there will be offered a rare die variety of a Draped Bust, Small Eagle 1797 dollar. It is PCGS graded AU-50 and among the finest known of its particular variety.

Although none of the pre-ANA auctions are landmark sales of bust dollars, Stack’s is offering a considerable selection of circulated bust dollars and B&M is offering some notable, high-grade bust dollars, including both a 1799 and an 1800 that are each NGC graded MS-63. Additionally, an 1839 Gobrecht dollar that is NGC certified Proof-63 will ‘come on the block.’

A significant number of scarce or rare Liberty Seated dollars will be auctioned before the ANA Convention begins. Liberty Seated silver dollars of 1851 and 1852 are very rare. Indeed, each may be extremely rare. Stack’s will auction two 1851s, one of which is NGC graded MS-61 and three 1852s that are NGC certified Proof-64 Restrike, AU-58 and MS-62, respectively. The 1853 dollar is almost rare, and Superior is auctioning an 1853 dollar that is NGC graded MS-64.

Both Stack’s and B&M are offering several Proof Liberty Seated Dollars. One of those in the B&M sale is an 1859 that is NGC certified Proof-67. For those who wish to spend considerably less money for a Proof 1959, Superior is selling one that is PCGS certified Proof-64. The catalogue image of the Proof 1870 dollar in the B&M sale suggests that it might be an exceptionally attractive coin, though I do not draw conclusions solely from images. (more…)

by Greg Reynolds for CoinLink

Half dollars will be in abundance in Baltimore. A large number of people collect bust halves, and a fair number of half dollar collectors will travel to Baltimore. Many others will have dealers represent them. The pre-ANA auctions will include ample offerings of bust halves, though less than I expected.

The highlight is the second or third finest known 1797 half dollar. Draped Bust, Small Eagle halves were minted only in 1796 and 1797. Both dates are very rare!

Stack’s will be offering the Norweb 1797 half, which is NGC graded MS-66. It is the second finest 1797 half that I have ever seen, and it is a coin that I very much like. It is certainly surpassed by the Lelan Rogers 1797 half, which is (or was) also NGC graded MS-66.

The Norweb 1797 half was last auctioned in March 2004 as part of the Haig Koshkarian type set. Dr. Haig, as he prefers to be called, purchased this coin ‘in person’ at the Norweb III auction in November 1988. This is the same Norweb auction event in which the highest graded 1861 Philadelphia Paquet Double Eagle was sold. This Philadelphia Paquet will be on display at the Monaco table at the ANA Convention.

The Norweb-Koshkarian 1797 half realized $966,000 in 2004, an auction record for any half dollar that still stands. This Norweb-Koshkarian 1797 half is certainly one of the five finest pieces of the entire 1796-97 type. The Rogers-Whitney 1796 half and the Knoxville 1796 half are also high in the condition rankings, for the type.

Flowing Hair halves of 1794 and 1795 are generally less expensive than 1796-97 Draped Bust, Small Eagle halves. Stack’s is offering multiple 1794 and 1795 Flowing Hair halves. In the B&M sale, there is one 1795 half, which is NGC graded AU-53. Superior is selling a 1795 half that is NGC graded AU-58.

Rich Uhrich is a dealer who specializes in die varieties of bust silver coins. His personal collection was auctioned by Stack’s in February. Uhrich concludes that “1794 and 1795 halves are more popular than Draped Bust halves” with either ‘Small Eagle or Heraldic Eagle reverses. “There is just something about the appeal of coins with dates in the 1700s,” Moreover, Uhrich observes that “there are many people trying to complete sets of all the varieties of Flowing Hair halves but are not collecting Draped Bust half varieties.” Also, Uhrich has found that “a lot of collectors who are not ready to spend the money for a 1794 silver dollar demand 1794 half dollars,” which are much less expensive. (more…)

Bowers and Merena Auctions, America’s leading rare coin auction house, will host their Baltimore Rarities Sale in July at the Baltimore Marriott Waterfront, just prior to the ANA World’s Fair of Money. The auction of nearly 1,300 lots will be presented on Saturday, July 26, with lot viewing scheduled for Thursday to Saturday, July 24-26, and lot pick-up on Sunday, July 27. The catalog includes approximately 1,100 coin and 200 currency lots.

At the top of the highlights list is an impressive 1866-S No Motto Liberty Double Eagle graded MS-60 by NGC. It is described as a High Condition Census example, one of only three Mint State examples known to PCGS and NGC, and the type of Mint State rarity that is not often available to collectors for purchase. Although Winter and Crum were unaware of any Mint State examples of the 1866-S No Motto in numismatic circles, PCGS and NGC have since certified a few coins at that level. The total is limited to just three pieces, however, the finest of which grades only MS-61. Clearly a very rare coin from both absolute and condition standpoints, the BU example that Bowers and Merena is offering represents a fleeting bidding opportunity for the advanced collector of 19th century U.S. gold coinage.

“Bowers and Merena just returned from a very successful June auction in Baltimore where we realized over $6.2 million, and there was already a lot of talk and enthusiasm among attendees to return to Baltimore in July,” said Steve Deeds, president of Bowers and Merena. “We have a fantastic selection of very special coin and currency lots and we are looking forward to presenting an exceptional rarities auction that serious collectors will really appreciate.”

Additional highlights of note include an 1808 Capped Bust Left Quarter Eagle, BD-1, HBCC-3017, the only known dies, Rarity-4, graded MS-61 by NGC. This is an elusive and significant One-Year Type, one of no more than 150 Capped Bust Left Quarter Eagles that are estimated to remain to meet the demand of both early gold specialists and type collectors, the latter group, in particular, representing an ever-growing segment of the numismatic market. Also, notable is a lovely prooflike 1795 Capped Bust Right Half Eagle, Small Eagle, BD-8, HBCC-3041, Miller-10, Rarity-5+, graded MS-63 PL by NGC, a nice coin, and a rarer die pairing of this historically significant and extremely popular federal gold issue. (more…)