As CoinLink reported on September 19th, NGC had Certified a Unique Russian 1755 Pattern 20 Rouble. That same coin is going to be sold in London Next month. Below is an article written in the Wealth Bulletin previewing that sale.

“The coin world’s answer to Damien Hirst’s art sale at Sotheby’s is set to take place on November 6, when a rare 1755 Russian 20-rouble gold coin goes up for auction at London’s Cavendish Hotel.

The coin was once owned by Grand Duke Georgii Mikhailovich, a 19th century member of the Russian royal family. It is being sold by St James’s Auctions, in association with coin dealer AH Baldwin & Sons.

Baldwin managing director Ian Goldbart said he expects the item to beat the record price for a non-US coin, currently held by a Polish 100 ducat, which fetched $1.48m early this year.

Goldbart said that the soaring price of precious metals is a factor behind a surge in demand for gold coins this year, on the back of growing demand for bullion. The price of gold, currently $879 an ounce has soared following the collapse of investment bank Lehman.

Gold exchange-traded funds have enjoyed record demand, although discriminating wealthy investors, nervous of the covenant of banking custodians, are increasingly keen to put bullion in their own vaults.

But Goldbart said that the key factor behind demand for coins was their scarcity: “Coins of the quality of the Russian 20-rouble almost never become available,” he said. “The coin last changed hands in 1950.” He said rare coins have only recently started to rise in value, adding: “Unlike Hirst’s art, they aren’t increasing in number.”

No reserve price is being quoted for the 20-rouble coin, but Goldbart said it could fetch between $2m and $3m, due to the item’s rarity.”

Among the most famous and popular of early federal coins is the 1794 cent variety featuring a circle of 94 tiny stars around its reverse border. Though partially hidden by the denticles which overlap them, these stars have captured the imaginations of coin collectors since this variety was discovered in 1876 by legendary dealer Henry Chapman. Since that time about 40 examples have come to light, the finest of these overall being the one plated in William C. Noyes’ book United States Large Cents 1793-1814. It is more worn than the newly discovered coin, but its surfaces are problem-free.

The previously unknown specimen illustrated here is by far sharper than the Noyes plate coin, having full details and essentially no wear but with corroded surfaces. The latter feature disqualifies it for NGC certification, but NCS was pleased to assign it a details grade of AU and provide a VarietyPlus® attribution of S-48 from the Sheldon cataloging system.

The NCS-certified cent reportedly was retrieved from a coin album and was unknown to the large cent collecting fraternity. The few individuals outside of NGC/NCS who have seen the coin or photos of it are in agreement that this is the sharpest example known of this rare and fabled variety. Its submitter has chosen to remain anonymous at this time, but he is delighted with the service he received from NCS and its representatives.

BOWERS AND MERENA’S BEVERLY HILLS RARITIES AUCTION PUSHING OVER $3.3 MILLION

IRVINE, Calif. Bowers and Merena Auctions hosted their Beverly Hills Rarities Sale on Saturday, September 13, 2008, at The Tower Beverly Hills. The 933-lot auction of high-end rarities realized a total of $3,317,135.

The spotlight of the auction was on the new discovery 1851 Augustus Humbert $50 Gold piece of the Reeded Edge, 880 THOUS (K-5, Rarity-5) variety graded MS-65 * by NGC that realized $460,000 after an excited round of bidding. Prior to the auction, NGC chairman Mark Salzburg called it “the most memorable coin I have graded all year.” It is the only Humbert gold coin of any denomination with an NGC grade of MS-65 *, and no Humbert gold coins of any denomination or variety have been graded finer than MS-65 at either PCGS or NGC.

“A new discovery piece the caliber of this Humbert is so special and rare that I can think of only a very few in this league that I have come across in my 40-year span in the business,” said Steve Deeds, president. “It is very exciting to be able to present a coin like this to the world of collectors who will appreciate it for its history and value to the numismatic community. This is a showcase piece for its new owner and one that will be remembered for years to come.”

Also at the top of the list is an impressive near-Mint preservation 1859-O Liberty Double Eagle, Winter Variety One, the only known dies, from the Centennial Collection and graded AU-58 by NGC that realized $97,750. The 1859-O is a leading rarity in the New Orleans Mint Double Eagle series. A mere 75-85 pieces are believed extant in all grades – a total that confirms the 1859-O as rarer than all other O-mint coins of this denomination with the exception of the 1854-O, 1855-O, and 1856-O. The ‘59-O is equally as elusive as the lower-mintage ‘79-O of the Type III design.

Following close behind the 1859-O is an 1854 Liberty Double Eagle, Large Date in NGC MS-64, also from the Centennial Collection, that realized $96,600. An elusive variety in all grades, this extraordinary representative is among the finest known with a combined PCGS and NGC Population of just 3, and none are finer at either service. (more…)