“Some archaeologists are piqued that genuine ancient coins are being sold in a benefit auction to preserve collectors rights,” says Wayne G. Sayles, executive director of the Ancient Coin Collectors Guild ( http://www.accg.us ).

In a recent post online, one archaeologist likened the private collecting of ancient coins to the slaughter of African elephants. This wildly radical view pits archaeology directly against a venerable 600-year-old tradition of private scholars and museums throughout the world, according to Sayles.

Objects as plentiful as coins, surviving in the millions of specimens, can hardly be treated as priceless treasures to be preserved only by state agencies and institutions. Collectors argue that they are far better stewards and preservationists than most institutions, and are sometimes better scholars.

The ACCG Benefit Auction is now live online and bidding is active.

With 208 lots, representing about 450 ancient coins and related objects, the ACCG Benefit Auction is off to a strong start. Spirited bidding characterized the first two days of the auction, which runs from August 4 to August 17, 2008. The sale is being hosted by VAuctions, a companion to the popular VCoins web site. Lots may be examined and bids may be executed at http://www.vauctions.com .

Donations for this sale came from both the collector and dealer communities, with a very wide range of material. Some exceptionally rare pieces are being offered, including a bronze minima of Libius Severus, a billon tetradrachm of Severus Alexander from Alexandria and a bronze coin from Palmyra struck during the first century BC. The sale also includes many lovely silver tetradrachms struck in Greek cities during the Classical and Hellenistic periods. Roman coin collectors will be pleased to find a very nice run of imperial portrait coins in all metals. (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…)

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.