In the earliest years of the Mint, dime and quarter eagle reverse dies were used on each denomination–apparently a conscious decision. The planchet sizes were close, 19 mm for the dimes and 20 mm for the quarter eagles.

The diameter of each denomination was later reduced when new machinery was introduced. The dime’s diameter was reduced to 18.5 mm beginning in 1809, and the quarter eagle to 18.2 mm in 1829.

It is not a stretch to imagine the Mint striking a batch of dimes with a few unstruck planchets remaining in the hopper, then striking a run of quarter eagles, a couple of which were struck on leftover dime planchets. Only 0.3 mm separated the size of the two planchets, an imperceptible difference to the casual inspector.

What happened next is fairly obvious: nothing. This piece entered the channels of commerce and circulated as a dime for many years. Only recently and after 54 points of wear did someone notice that the design was inconsistent with that of an 1831 dime. This piece was found in a bag of silver in North Texas, in May of this year.

It is always interesting to scan the “Found in Rolls” column in Coin World. Foreign coins, tokens, silver coins are constantly found in rolls. But an 1831 quarter eagle struck on a dime planchet in a bag of silver?

This is the second example of this off-metal striking that is known. The other piece is high-grade and has a distinguished pedigree including Brand, Opezzo, Farouk, Judd, and Sloss. It has been off the market since 1974, when it was traded privately, then it was withdrawn from the 1979 ANA Sale. Over the years that piece has been listed and delisted as a possible pattern. (more…)

Dallas, TX: Heritage Auction Galleries’ upcoming Long Beach Currency Signature Auction, to be held September 17-19, 2008, will be anchored by the impressive Jupiter Collection.

“The collection contains a total of fifty-nine Large Size Type Notes and 11 Small Size High Denomination Notes, as well as a partial pack of twenty-five Large Size Federal Reserve Notes,” said Dustin Johnston, Consignment Director for Dallas-based Heritage. “It was assembled by a collector with astute attention to quality and rarity. No note was added to the collection unless it was fully Gem in quality, one of the finest available for the type, or exceedingly rare.”

“In a market red hot for ultra rarities, The Jupiter Collection is chock full of them,” Johnston said. “The Fr. 1219b Series 1907 $1,000 Gold Certificate with the Napier-McClung Signature combination is unique and is graded PMG Very Fine 25. Another unique gold certificate, the 1192a 1882 $50 Gold Certificate PMG Very Fine 25 will also be offered.  Though one of two known Fr. 1175 s, the PMG graded Choice Fine 15 1882 Gold Certificate outshines the other known note, not for grade, but for boasting the Serial Number A1. Another Serial Number 1 example, in the Jupiter Collection, the Fr. 871a 1914 $5 Federal Reserve Note, will stir collector interest as it is the only Serial Number One Large Size Federal Reserve Note known.”

Johnston continued, “Many of the notes in the collection that are usually considered ‘common’ are actually condition rarities. The focus on condition rarity for more commonly available notes is well illustrated by the Fr. 334 $50 1891 Silver Certificate. The note resides in a PMG Superb Gem Unc. 67 EPQ holder and remains the only Superb graded $50 Silver Certificate by either PMG or PCGS. In total thirty pieces sit atop the combined population reports at PMG and PCGS, and nearly a third of them have no equal yet graded by either service.” (more…)

Dallas, TX. Heritage Auction Galleries has set the record for the most valuable ANA Auction ever! Significant and classic rarities from all series in American numismatics, most of them offered in the Platinum Night catalogs, smashed the previous record of $27.7 million set last year at the Milwaukee ANA event. The auction was held in Baltimore July 30 - Aug. 3, in conjunction with the World’s Fair of Money summer convention of the American Numismatic Association. Total prices realized for the American coins are currently $41,022,713, and will rise further when the post auction buys are finalized.

“This was Heritage’s 38th Official ANA Auction, a record in itself!” enthused Heritage C.E.O. Steve Ivy. “We were very pleased with our results in Milwaukee last year, and we think Baltimore has demonstrated the absolute strength of the market for important and high quality coins. Such high prices realized also mean a record-setting check will be provided to the ANA to support their educational and membership programs. We also take great pride that our total was 50% higher than our previous ANA record, and double that accomplished by any other ANA auctioneer. Heritage delivered for the ANA.”

“The great rarities included in this auction were simply dazzling,” commented Heritage President Greg Rohan. “Among the 400 consignors participating, several of the ‘named’ collections did especially well. Before the auction we predicted that many records would be set, and we were not disappointed! Ed Price’s marvelous - and unique - collection of early dime and quarter eagle varieties realized $5.7 million, Stephen Stokely’s Registry Collection of $20 Saint-Gaudens exceeded $2 million, Part Four of the Phil Kaufman Collection of Early Proof Sets brought in another $1.4 million, and the DMPL Morgans of the “Gift of Undeserved Favor” Collection realized a similar total. Of course, the ANA-donation luncheon with Jim Halperin topped $12,000!”

Two important lots tied for the most valuable in the auction, at $690,000 each: Lot 1406, a 1792 Disme, Judd-10, High R.6, PR62 Brown NGC from the Ed Price Collection, and Lot 1955, an 1825/4 $5, AU50 NGC BD-2, R.8, once thought to be a unique issue.

Two prominent rare coin dealers jointly bid a total of $12,650 (including buyer’s premium) to have lunch with Heritage Auction Galleries Co-Chairman, best-selling author and acclaimed numismatic authority, Jim Halperin. Conducted in conjunction with Heritage’s official auction of the American Numismatic Association World’s Fair of Money® convention in Baltimore on “Platinum Night,” July 31, 2008, all proceeds of the winning bid and commission will be donated to ANA education programs.

The highest bid came from Anthony Terranova of New York City and Laura Sperber of Legend Numismatics in Lincroft, New Jersey.

Terranova humorously explained: “I’ve known Jim for 35 years, and I didn’t want him to have to have lunch with strangers.”

Sperber stated: “I’m glad I could help benefit the ANA, a worthy organization that I’ve supported for many years and will continue to do so.”

The $12,650 donation will be used for improving numismatic resources on the ANA web site, including the successful Coins in the Classroom project that is used by teachers nationwide.

The time and place for the lunch with Halperin have not yet been decided.

Former ANA Vice President, Scott A. Travers of New York City, suggested the fund-raising auction after exchanging e-mails with Halperin about a recent $2.11 million charity auction involving a lunch date with renowned investor, Warren Buffett. In 2000 and again in 2001, Halperin and a friend, Scott Tilson, were the high bidders at charity auctions for lunch with Buffet with winning bids of $20,000 the first year and $30,000 the next. (more…)

This spectacular serial number 1 Black Charter Note represents a true miracle of survival.

Discovered earlier this year, it is the only serial number 1 Black Charter Note from any bank to survive, and is one of only three Original Series Black Charter Notes known to exist (Fr. 399).

It is the “A” position note from the first sheet of fives sent to the Red Oak, Iowa bank in 1873, and, as Peter Huntoon noted in his Bank Note Reporter story earlier this year, had obviously been saved by one of the signers.

Nothing is known of the note’s pedigree since the day it left the bank in late 1873 until it walked into a small Iowa coin shop earlier this year. The note quickly changed hands and the second dealer sent it to PMG for grading because of its attractive appearance.

Only when the note came back from PMG with the attendant fanfare did the second dealer realize that this was not only a serial number 1 example but was the only serial number 1 Black Charter example ever to be recorded.

Fortunately for collectors, it is a lovely as well as unique note, with great color, signatures, and eye appeal, fully, in our opinion, meriting its PMG assigned grade of Very Fine 25.

The Note will be auctioned by Heritage in the upcoming Long Beach Currency Sale in September as Lot 3502.