This 1795 13 Leaves eagle, BD-1, certified MS64 NGC, is a monumentally important coin in both aesthetic and historic terms. The obverse of the BD-1 variety is attributed by the 1 close to the lowest lock of hair, with a closely spaced date and the flag of the 5 overlying the drapery. Star 11 is quite close to the Y adjacent, which shows two tiny “lumps” (a die line, in reality) on the left outside serif. The stars are arranged 10 and five (as on all five 1795 Bass-Dannreuther varieties), with the right-side stars cramped tightly together. This is the only pairing that employs this particular obverse.

The 13 Leaves reverse shows a palm leaf virtually touching the left bottom of the U in UNITED, and the tip of the branch stem just about bisects the bottom of the last A in AMERICA.

As mentioned, the obverse this variety is unique to this die marriage. The reverse, on the other hand, is shared with the BD-2, slightly rarer at High R.4. John Dannreuther writes in Early U.S. Gold Coin Varieties:

“Bass had a State c/b of this variety that was sold in Bass III. There likely, as noted, is a later state of this obverse die, as this variety is its only use. The obverse die broke or received some other fatal injury to cause it to be retired.”

The obverse of this example shows about the same state of die advancement as the Bass coin, with a light die crack running from the rim above star 10, through star 9 and downward through all left-side stars, continuing from there to the bottoms of the 1 and 7 in the date before terminating just below the 9. Another wispy die crack runs from a point of star 13 through the upper part of star 14 and the center of star 15 before ending at the forward bust tip.

The determination of the reverse die state (or stage) is more problematic; light planchet adjustment marks appear in most of the areas diagnostic for die states. Suffice it to say that no cracks are obvious among those enumerated in Bass-Dannreuther.

More important than the die state–which in any case matters to some specialists-researchers a great deal and to many type collectors little at all–is the enormous aesthetic appeal of this coin, which we believe surpasses the Bass III coin mentioned. The orange-gold surfaces show vibrant, prooflike luster throughout both sides, a trait that some Mint State specimens do show. Dannreuther writes in this regard: (more…)

By Jason Feldman – The E-Gobrecht

The Simpson dimes were being broken up. [ Heritage Long Beach Sale #1144] This would be a great opportunity to upgrade dimes in an advanced Seated Dime collection. The big problem was there were so many coins that few buyers would be able to purchase them all and no one did surface who did. Even more amazing are some of the coins left in the collection like a MS66 1844 Dime. Legend (Numismatics) has made available to me so many wonderful dimes that news of this sale created euphoria.

It would come as no surprise that most of the coins were either crossed over to PCGS at the same or in many cases a lower grade. Seeing the secure plus holders and Simpson pedigree would make this obvious. There was a lot bidding research needed prior to bidding. There were cases where buying too many coins early would limit the ability to chase coins later. One the highlights of the sale being a simply gorgeous 1872-S, I was not the only one to think so as the coin went to the moon.

One of my regrets of the sale was not being able to purchase the 1845-O dime in mint state. This is a very rare opportunity indeed but as a rule if you set a maximum bid and exceed it by 10% you have to know to stop. Being the under bidder was really not satisfying and maybe a higher bid was warranted. Another highlight of the sale was a gem 1860-S. Prior to the sale, Laura (of Legend Numismatics) and I spoke as to where the coin would sell. It was another on my short list. I think we both underestimated the demand for this coin. It went far over preauction estimates but I don’t doubt it to be well worth the hammer price $40,250. A nice return on investment considering one sold for roughly $7,000 in 1994.

One of the interesting notes about these coins is how many were not picked up by Seated Dime registry collectors but rather a just collectors and dealers. I know one dealer picked up roughly 10% of the coins and most all have been sold. There were many bargains in this sale too. Mostly the coins following the Simpson dimes went too cheap. One example is an 1858-O is a MS64 PCGS holder population 1 with 8 finer sold for just under $3,000 while the Simpson PCGS MS65 population 7 with one finer soared to $9,200. With the grade covered it was not really possible to call either coin much better than the other.

Some of the real steals in the Simpson collection came in the coins in NGC holders. The obvious assumption is these are coins that on a given day did not cross over at PCGS. A good many of them did regrade at NGC. In the case of the ultra-rare 1853-O MS64 the coin was simply overgraded. The coin did have a wonderful and original look to it but just had too many marks to be graded higher than MS62 in my opinion. The coin could easily be traced back with little effort to its previous holder. In general the ultra high grade trophy coins were the ones hitting the moon. Clearly one of two mint state 1845-O Dimes should be worth more than a other coins that sold in the low $20,000’s. This was a sale where knowledge was king. (more…)

Early U.S. coinage and classic proofs, including one of the finest known 1895 Morgan dollars, are the twin strengths of the Heritage Auction Galleries December 2010 U.S. Coin Auction, to be held in conjunction with the Money Show of the Southwest in Houston, TX. Floor sessions are Dec. 2-3.

With Featured Collections such as The W. Philip Keller Collection of U.S. Colonials and The Eagle Harbor Collection, Part Two lined up, we knew this auction was going to be heavy on early U.S. coinage. The many great proof coins we’re going to offer were more of a surprise, though definitely a welcome one.

Perhaps the most surprising lot of them all is an 1895 Morgan dollar graded PR68 Ultra Cameo by NGC. This example from what is arguably the most famous Morgan dollar issue combines great condition with immense popular demand. It is estimated at $90,000+.

For many years, collectors believed that there were business strike 1895 Morgan dollars out there waiting to be discovered, and in the meantime, they collected proof examples to fill the gap. Today, there is growing acceptance that the business strikes may never be found, but this has hardly dampened enthusiasm for the proofs.

Just 880 proof Morgan dollars were struck in 1895 for inclusion in the year’s silver proof sets. Perhaps half that number survive today, but only a handful of those coins are in a condition approaching the PR68 Ultra Cameo level.

On the early coinage side, the most prestigious pedigree belongs to a 1793 Wreath cent with Vine and Bars edge, S-5, B-6, graded MS61 Brown by PCGS. It is estimated at $50,000+.

This coin has been well-recognized and important to collectors for more than a century. It was first highlighted in the auction catalog for the Dr. Charles Clay Collection, sold all the way back in 1871. After that, it passed through a series of famous hands, including W. Eliot Woodward, Lorin G. Parmelee, and Wayte Raymond. We expect another name with plenty of future appeal to add this prestigious and carefully preserved coin to his or her collection. (more…)