Gold remains dominant in surging rare coin market; 1921 Saint-Gaudens, Ex: Norweb, leads all lots with $218,500

With the final tallies for Heritage’s April 28 to May 3 Milwaukee Central States Numismatic and Currency auctions in at more than $20 million jointly – $16.9 million in rare U.S. Coins and $3.1 million in rare currency – the totals of the two auctions, in combination with the previous week’s Chicago International Coin Fair World Coin auction – a $5.2 million event – made for a 10 day stretch that totaled more than $25 million in total for the company. All prices include Buyer’s Premium.

“We continue to see great prices across all categories, with gold simply dominating,” said Greg Rohan, President of Heritage. “The economy is definitely improved, so we saw less volume as collectors don’t absolutely need to sell. That said, however, the market continues to climb past the previous record 2007-2008 levels on many coins.”

The rare U.S. coins portion of CSNS saw a superb 89% of lots sold by value and 92% by total number of lots, contested by just more than 7,250 bidders, while the rare currency sessions saw a highly respectable 86% of lots sell by value and 94% by total lots, with 1,915 bidders vying for the offerings.

The top lot in CSNS was the Select 1921 Saint-Gaudens Double Eagle MS63 PCGS, Ex: Norweb, an historic absolute and condition rarity with few peers in the world of numismatics, which brought $218,500

“We continue to see great prices across all categories, with gold simply dominating,” said Greg Rohan, President of Heritage.

“Gold currently rules, and the king is Saint-Gaudens,” said Rohan, “and the 1921 Saint-Gaudens double eagle is a premier rarity in the series, ranking as the third rarest regular issue, behind only the famous and ultra-rare 1933 and 1927-D examples. The price that this very smart collector paid for this amazing and famous coin is money very well spent.” (more…)

Project Enables ANA to Showcase Collection at Boston Convention

The American Numismatic Association has contracted with its official paper money grader, Paper Money Guaranty, LLC to encapsulate, grade, appraise and provide a complete certification report for the ANA Bebee Collection of Paper Money.

The collection, donated to the ANA Edward C. Rochette Money Museum by Aubrey and Adeline Bebee in 1987, is one of most comprehensive collections of U.S. paper money ever assembled. It features 904 notes including national bank notes from virtually every state and territory and perhaps the finest collection of large-sized notes outside of the Smithsonian Institution.

“This agreement with PMG makes it possible for the ANA to share this fabulous collection with numismatists and paper money aficionados who, otherwise, might never have an opportunity to see the spectacular rarities collected by Aubrey and Adeline Bebee,” said ANA Executive Director Larry Shepherd. “The Bebees entrusted the ANA to protect and preserve their life’s work – but we also know that they hoped this special collection could be shared with the numismatic community. It’s a great feeling to know that we’ll now be able to expand our use of these notes for educational purposes, share them with the numismatic community, and preserve them for future generations.”

“This is such a special collection,” said Glen Jorde, manager of PMG, which along with NGC and NCS serve as the ANA’s official grading and conservation services. “So many of the Bebee specimens are either unique or the finest we’ve ever seen. The national bank note collection, with nearly every state and territory represented, blew me away. And the collection of large-sized U.S. notes is simply one of the finest anywhere outside of the Smithsonian.”

The Bebee collection, displayed on the ANA website , will be encapsulated in time for its inaugural display at the summer ANA World’s Fair of Money in Boston, August 10-14, at the Hynes Convention Center.

Beginning this month, PMG will accurately and safely grade and encapsulate each note into a holder designed for long-term protection. Three PMG graders will examine each of the notes to confirm authenticity, attribution and to render an opinion on its condition. Once graded, each note will be encapsulated along with a certification label. The information will then be recorded in PMG’s data management system and provided to the ANA. The project is scheduled for completion by June 11. (more…)

Officials from the U.S. Department of the Treasury, the Federal Reserve Board and the United States Secret Service today unveiled the new design for the $100 note. Complete with advanced technology to combat counterfeiting, the new design for the $100 note retains the traditional look of U.S. currency.

“As with previous U.S. currency redesigns, this note incorporates the best technology available to ensure we’re staying ahead of counterfeiters,” said Secretary of the Treasury Tim Geithner.

“When the new design $100 note is issued in TBD, the approximately 6.5 billion old design $100s already in circulation will remain legal tender,” said Chairman of the Federal Reserve Board Ben S. Bernanke. “U.S. currency users should know they will not have to trade in their old design notes when the new notes begin circulating.”

The redesigned $100 note includes two new advanced counterfeit-deterrent security features, in addition to effective security features from the previous design. The features are easy for consumers and merchants to check when verifying authenticity.

The blue 3-D Security Ribbon on the front of the new $100 note contains images of bells and 100s that move and change from one to the other as you tilt the note.

The Bell in the Inkwell on the front of the note is another new security feature. The bell changes color from copper to green when the note is tilted, an effect that makes it seem to appear and disappear within the copper inkwell. “The new security features announced today come after more than a decade of research and development to protect our currency from counterfeiting.

To ensure a seamless introduction of the new $100 note into the financial system, we will continue global public education of retailers, financial institutions and industry organizations to ensure that consumers and merchants are aware of the new security features,” said Treasurer of the United States Rosie Rios. (more…)