On May 29-30 Heritage will present the Long Beach World Coin Signature Auction. With over 3200 lots from 115 different countries, this auction is guaranteed to satisfy a wide range of World Coin collectors.

“We haven’t had this wide range of coins since we started doing World Coin auctions at Heritage”, says Warren Tucker, Director of Heritage World Coin Auctions. “If you asked me which country had the strongest selection I would have a hard time answering you”, continues Cris Bierrenbach, Heritage’s Director of International Sales, “but I can tell you that we have tremendous selections from Chile, Peru, Brazil, Spain, Mexico, Great Britain, Australia, Hong Kong, Russia and China, and I am sure I am forgetting a few others.”

Included in this sale is a Great Brazilian Rarity:

Pedro II 100 Reis 1844, KM452, toned XF, one of the greatest Brazilian rarities–finest of only three known.

From the founding of the first mint in the state of Bahia in 1694, Brazil has had three Monetary Systems. The first, which dates from 1695 to 1834, is the so-called “divisional” system. Each denomination was double in value of the previous denominations so the coins in circulation ranged from 20 to 640 Reis. In 1809, Brazil started striking the 960 Reis on the Hispanic 8 Reales, which had just begun circulating in Brazil when the Portuguese Crown was transferred to the Brazilian colony to escape the Napoleonic invasion.

Starting in 1834, Brazil, now an independent empire, attempted a new monetary system nicknamed the Cruzado (mainly due to inflation and the need for coins of higher values). With odd denominations of 100, 200, 400, 800, and 1200 Reis, this Cruzado system was rejected by the Brazilian population as they continued to use the older coins. Consequently, instead of increasing mintages, the Empire created a whole new monetary system that was established in 1849. With more “standard” denominations of 100, 200, 500, 1000, 2000 Reis, the new system was a quick success and remained in place until the Cruzeiro monetary reform in 1942.

While “failing” with the Cruzado system, the Brazilian empire created one of the rarest numismatic series in the wide collection of Brazilian coins. Only 42 date/denominations were issued under the Cruzado system, and most are scarce or rare.

The jewel of the Cruzado series is without a doubt the 1844 100 Reis (or the Tostao). The Krause Catalog lists it simply as “Rare”. In fact, only three are known, the finest of which is a toned XF piece we are privileged to offer as a part of the 2008 May Heritage Long Beach Signature World Coin Auction. Estimated at $40,000 - $55,000, this amazing rarity promises to be the centerpiece of its new owner’s collection.

Dallas, TX. A pair of 1794 silver dollars and three Continental dollars are among the rarities included in the catalog for the Official Auction of the May 2008 Long Beach Coin Expo. The auction, being held in California May 28-30, is now posted by Heritage Auction Galleries on their HA.com website. Signature catalogs for the auctions of both U.S. and World Coins & Ancients have been posted.

“The strong market is continuing to bring great rarities onto the Heritage auction block,” commented Heritage President Greg Rohan, “including the Col. Steven Ellsworth Collection of U.S. Half Cents, Part Three of the Liberty Collection of U.S. Colonial Coins, and the Silbermünzen Collection. Among the other rarities included are: an 1891-O Quarter dollar Specimen MS65 NGC; 1796 15 Stars Half Dollar, O-101, AU55 NGC; 1800 Dotted Date $1, B-14, BB-194, R.3 MS66 NGC; 1808 $2.50 MS61 NGC, Breen-6125, BD-1, R.4; 1907 $10 Wire Rim, Periods, MS67 NGC, Judd-1901 (formerly J-1774); an 1855 $50 Wass Molitor, MS61 NGC. CAC. K-9, R.5; and a (1797) New York Theatre Penny Token, D&H-Middlesex-167, Rulau-E-NY-892, PR64 Brown PCGS. This auction contains a wide range of material!”

“In addition to the Ellsworth and Liberty Collections,” continued Rohan, “Long Beach contains rarities from Part Three of the Mario Eller Collection, the Northwest Collection, Part One of the Estate of Robert R. Rollins Collection, Part One of the Estate of Francis A. Sullivan, Jr., Part Two of the Leroy Van Allen Collection, and Part Two of the Yoder Family Collection. Altogether, more than 650 consignors are participating in our May Long Beach auctions. With a wide range of rarities from Colonials through double eagles, this will be an incredible event!”

Highlights from Heritage’s Long Beach Signature Auction:

Lot 799: 1794 Dollar VG10 PCGS.
Of the mere 1,758 pieces struck, approximately 125 individual examples have been traced today, making this first dollar an essential rarity. Ex: John N. Brooks Collection (United States Coin Co., 12/1914), lot 17. From The Northwest Collection.

Lot 800: 1794 Dollar VF30 PCGS.
Struck on the initial day of the production of silver coinage, October 15, 1794, this rarity is a historic relic of America’s earliest attempt to produce large size silver coinage that would compare favorably in weight to the widely circulated Spanish (Carolus) dollars.
Ex: George C. Slawson (Stack’s, 4/1970), lot 840; 1991 ANA (Bowers and Merena, 8/1991), lot 436. (more…)

Heritage Currency Auction Contributes $14.2 Million toward $44 Million CSNS Event

Dallas, TX. The Official Currency Auction of the Central States Numismatic Society convention, held by Heritage Auction Galleries, realized $14,164,504, the largest currency auction ever, and the final total will be even higher after Post Auction Buys are concluded. Combining the rare coin and currency results, total prices realized at Central States currently exceed $44.4 million. More than 6,700 bidders participated in Heritage’s Signature events, and another 3,000-plus bid in the Final Sessions. The auctions were held in Rosemont, Illinois on April 16-18; Images, descriptions, and prices realized for all lots can be viewed at the Heritage website, HA.com.

“This was our largest Heritage currency auction ever,” enthused Allen Mincho, “surpassing even our fabled Taylor Family Collection auction in February of 2005. We were incredibly pleased with the results at Central States, but even more astonishing was the bidder participation. We have never seen so many bids placed through every means. On many lots, we would open and ten cards would shoot up in the room, and they would be competing against three bidders on the telephone and two more on Heritage Live. The bidding on many lots was so intense - and sustained - that they took ten minutes to sell! Many of the dealers present expressed their astonishment.

“As we expected,” concluded Len Glazer, “the market is continuing to react most strongly when rarity and quality are combined, but either one of those elements was sufficient to inspire spirited bidding. This was our best Central States Currency auction ever, and we are looking forward to our September auction in Long Beach.”

Highlights from Heritage’s Rosemont Central States Currency Signature Auction: (more…)

The 1796 half cent is the classic rarity of the denomination from a mintage of just 1,390 coins. Perhaps 10% of those coins still exist today, nearly all in very low grades. We estimate the existence of about 25 No Pole coins and perhaps 120 With Pole coins.

Certain issues, such as the 1796 half cent and the 1901-S quarter, are known in high grade and low grade, but virtually unknown between these extremes. Nearly all known 1796 half cents, of both varieties, exist in Mint State and also below Fine. Those that grade VF, XF, and AU, such as this piece, are extremely rare.

Walter Breen described two subvarieties for the With Pole pieces, struck on rolled copper planchets or on spoiled cents. His spoiled cent subvariety, like the thick planchet 1795 coins, should weigh at least 100 grains, compared to the 84 grain standard for the issue. To date, we are only aware of a single thick planchet piece, discussed in Breen’s Half Cent Encyclopedia.

The  example Heritage is offering in their upcoming Long Beach Signature Auction on May 28-31 has reflective fields on both sides, with excellent luster. Aside from the usual minor abrasions resulting from brief circulation, the surfaces are exceptional. Slight weakness is evident at the center of the reverse, but all other design elements are bold. This coin is struck from an early die state with repunching of the 9 clear. The existing population of 1796 half cents is too small to clearly establish distinct die states or a suitable emission sequence.

This coin is a part of the Col. Steven Ellsworth Collection of Half Cents, one of our outstanding featured collections at Long Beach.

Dallas, TX. The 1804 Silver Dollar highlighting the amazing collection of silver dollars assembled by David Queller and his family reached $3,737,500 at the Official Auction of the Central States Numismatic Society convention held by Heritage Auction Galleries. Combining the rare coin and currency results, total prices realized currently exceed $42.6 million. After adding proceeds from all Post Auction Buys and Final Session auctions, total prices are expected to exceed $44 million. More than 6,700 bidders participated in the Signature and Platinum Night events, and another 3,000-plus are anticipated to participate in the Final Sessions. The auctions were held in Rosemont, Illinois on April 16-18; Images, descriptions, and prices realized for all lots can be viewed at the Heritage website, HA.com.

“Heritage was very pleased with the auction wide results at Central States,” commented Heritage President Greg Rohan, “and especially so for the results of the wonderful Queller Family Collection. As anticipated, the market reacted well to the combination of rarity and quality that marked all of the coins assembled by a discerning eye. And also as anticipated, the most valuable three coins sold in Rosemont were all Queller coins. The prices further support claims that this was the greatest silver dollar collection ever assembled.”

“Heritage was also pleased at the total prices realized including currency. Over the past three years, Heritage achieved enviable results at our Central States auctions: 2005 - $24,265,967; 2006 - $24,145,105; and 2007 - $24,912,768. Frankly, we were beginning to wonder when we were going to exceed that $25 million level! Well, we have decisively smashed that barrier in 2008, and any concerns about the overall economy were decisively rejected by astute collectors willing to pursue quality.” (more…)