As a part of the May Long Beach Signature Auction, Heritage is offering the finest known O-118 variety of the 1825 half dollar - a newly discovered example and one of only three R.8 varieties within the entire Capped Bust half series.

The 1825 Overton-118 is identified by a heavy vertical die break between the 25 in the date. Two Bust half experts, Glenn Peterson and Brad Karoleff, believe the break occurred during hardening of the die prior to use. This die break undoubtedly led to early disposal of the obverse die. The reverse die continued in use, paired with a different obverse to strike O-103. The workhorse reverse die earlier struck the 1824 O-116.

Just three examples of O-118 are known. Al Overton, who died in 1972, was unaware of the variety. According to an April 7, 2008 Coin World article, the discovery piece was found at an Oregon coin shop by Olin Carter, circa 1983. Per Capped Bust authority Sheridan Downey, “it is the Overton plate coin, graded Fine for sharpness but with dull, washed out surfaces.”

The second O-118 to surface was sold unattributed within a group lot to Charles Erb, circa 1990. Erb’s example found its way to Charlton “Swampy” Meyer Jr., who owned the most complete die variety collection of Capped Bust halves. According to Downey and Coin World, that example “grades VF with attractive album toning on the obverse. The reverse is lightly wiped.”

The April 7 Coin World article states, “based on the conditions of the other two examples of the variety, the new discovery [of O-118] would be the finest known… Sheridan Downey believes the new discovery … could bring from $75,000 to $100,000.”

The present piece, the third known O-118 1825 half, has been graded VF20 by ANACS and displays deep apple-green and gunmetal-gray toning. The fields are slightly glossy and exhibit a few hair-thin marks, made nearly imperceptible by the toning. A thin, slender mark near the ear is also unobtrusive. Wear is even and moderate, with ample plumage definition present on the eagle.

To the best of Heritage’s knowledge, this is the first major auction appearance for the variety, which was absent from the extensive and formidable die variety collections of Jules Reiver and Russell Logan. The next owner of this coin may hold it for many years, then sell it privately or even donate it to a museum and permanently take it off the market. The opportunity to acquire an O-118 1825 at public auction is here, but fleeting.

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…)

On May 21-22, 2008, Stack’s eagerly invites you to join us in the event inaugurating our brand new, custom-designed auction gallery located at 110 W 57th Street in New York City. The sale of the Minot Collection and other important properties, to take place over two sessions from May 21-22, is sure to be an outstanding way to launch what will surely be a new and lasting tradition.

The Minot Collection offers astounding diversity and superb quality. With large offerings of colonial coins, U.S. medals, coins, and paper money, this sale represents a veritable panorama of American numismatics. Opportunity abounds, as there are significant rarities offered in every section of the sale.

Opening the sale is a recently discovered Sommer Islands twopence. The exceptional rarity of these specimens means that examples appear for sale very infrequently, making this an important opportunity. An excellent medley of colonial coinage follows, with a great selection of Massachusetts silver, including an MS-61 (NGC) Oak Tree shilling. The very rare ca. 1659 Lord Baltimore shilling will certainly attract attention, as will the stunning 1766 Pitt halfpenny token and one of the finest known 1786 Baby Head Vermont coppers. A nice run of New Jersey coppers is capped off by a Condition Census Mint State 1787 Maris 15-T. A delightful run of Washington pieces is sure to please, as is the probable Condition Census Newman 3-D 1787 Club Rays Fugio cent.

The section of the sale devoted to U.S. medals offers a goodly amount of interesting and affordable pieces mixed in with many serious rarities. The unique 1781 Libertas Americana reverse cliché and the 1787 Columbia and Washington copper medal are two of these fantastic rarities. The rare small size silver 1801 Jefferson Indian Peace Medal will certainly command attention, and an intriguing privately issued and intricately hand-engraved Louisiana Confederate Veteran Cross will certainly catch the eye of any Confederate or Civil War collector. The section of Presidential medals is highlighted by the rare (only four struck!) Jimmy Carter Inaugural Presentation Gold Medal. The historic and exciting silver Tammany Society Badge offered in this sale is one of just a few pieces extant of this little known piece.

The regular United States series begins with early coppers and features the elusive key date 1796 half cent and a lovely Proof 1856 large cent in Proof-64 RB (PCGS). A wonderful Proof 1857 Flying Eagle cent, one of the finest known, is sure to be a major attraction, as will a lovely 1918/7-D Buffalo nickel and a Mint State 1794 half dime. A beautiful Gem 1807 dime, two Mint State 1916-D Mercury dimes, several Gem 1942/1’s, and a Gem 1942/1-D quickly follow.

We are excited to offer two of Hermon MacNeil’s original bronze casts of the 1916 and 1917 Standing Liberty quarter designs. The first is a cast of MacNeil’s approved obverse design for the 1916 Standing Liberty quarter, and the second is his alternate reverse design for the 1917 Type II quarter. These large, possibly unique casts were intended for the preparation of dies and represent two great chances to acquire a fascinating piece of numismatic history. These wonderful casts are followed by three exceptional 1916 Standing Liberty quarters, one in MS-65 and two in MS-64. (more…)

OFFICIAL AUCTIONEER OF THE BALTIMORE COIN AND CURRENCY CONVENTION

Highlights Include Exceptional 1854 Type II Gold Dollar in NGC MS-68 and 1920-S Saint-Gaudens Double Eagle in NGC MS-63

IRVINE, Calif. – Bowers and Merena Auctions, America’s leading rare coin auction house, returns as Official Auctioneer of the Baltimore Coin and Currency Convention, with the next auction scheduled for June 4-7, 2008, at the Baltimore Convention Center. This is the second of three official Baltimore auctions by Bowers and Merena in 2008, continuing their longstanding and ongoing association with the convention.

The auction boasts more than 3,000 coin and currency lots and an impressive list of highlights. Topping the list is Lot 3544, a captivating 1854 Type II Gold Dollar rarity certified MS-68 by NGC that is tied with only one other NGC MS-68 as the finest-known 1854 Type II Gold Dollar. This particular specimen possesses razor sharp detail throughout and is perfectly complemented by exceptionally smooth, virtually pristine surfaces. Also worthy of note are Lot 3980, a choice uncirculated 1920-S Saint-Gaudens Double Eagle certified MS-63 by NGC, considered to be a legendary condition rarity in the Saint-Gaudens Series; and Lot 3733, a beautiful near-gem 1801 Capped Bust Right Eagle, BD-2, HBCC-3194, Taraszka-25, Rarity-2, certified MS-64 by PCGS.

Leading the list of extraordinary currency highlights are Lot 2537, a Fr. 114. 1901 $10 Legal Tender Note. PCGS Very Fine 30PPQ. S/N 1; and Lot 2630, a Fr. 282. 1923 $5 Silver Certificate Star Note. PCGS Superb Gem New 67PPQ.

“Every trip to Baltimore is a much-anticipated event for us at Bowers and Merena,” said Steve Deeds, president. “There is such a strong contingent of coin and currency enthusiasts at every show and we go to great lengths to bring the best selection possible for our auctions. This June auction is no exception, very strong across the board with a wide variety of quality pieces for all interests and all levels of collecting.”

(more…)

By Greg Reynolds for CoinLink

On April 15, in the Chicago area, B&M auctioned an 1882 Shield Nickel for $27,600, probably a record for a Shield Nickel minted after 1867. The Proof 1867 With Rays Nickel is a rarity; the Proof 1882 Shield Nickel is not rare, though it is scarce.

After hearing some of the most sophisticated experts in the field rave about this nickel, I found I could not resist writing about it, even though I have never seen it.

This 1882 is PCGS certified Proof-68, on a scale that ends at 70. Late 19th century Proof Nickels usually grade from 62 to 66. It is the only 1882 Nickel that is PCGS certified as Proof-68, though the NGC reports four in this grade, as of April 28.

The PCGS price guide values an 1882 Proof-68 Shield Nickel at $8500, and the Numismedia online price guide gives a figure of just $6700. So, $27,600 is quite a price.

Dave Schweitz is a specialist in nickel and silver coins that grade 66 or higher. He declares that this 1882 is “definitely the best Shield Nickel that” he has “ever seen, a very high end 68. It is the ultimate Proof type Shield Nickel.”

Matt Kleinsteuber is a grader and trader for NFC coins. He asserts that this 1882 “is the highest quality Shield Nickel that” he has “ever seen, from a technical standpoint. Even so,” Kleinsteuber believes that “the price was high,” much more than he was willing to pay.

There was some speculation among the auction participants as to whether it would qualify for a 69 grade from NGC. Charles Browne does not think it should. “As pretty as it is,” states Browne, “it would need a little more eye appeal to be [accurately graded] 69.”

Browne is a former PCGS grader, as is Schweitz. Further, Browne is a current instructor in advanced grading courses offered by the ANA. Charlie has more than twenty-five years of experience in serious bidding for high grade, rare coins at auctions. (more…)