by Greg Reynolds for CoinLink
This is Part 3 of my review and analysis of the auction of the Millennia collection of world coins.

British coins, Dutch coins and particularly the coins of the Spanish Empire are tremendously well represented in the Millennia collection largely because these were widely used in international trade or relate to world events in other ways. Though many of the European coins are of high quality and/or are historically important, the Millennia collection will probably be best remembered for its Latin American coins.

I will not list the Latin American coins in the Millennia collection that brought the highest prices nor will I list the rarest. I do mention the three most famous Latin American coins in part 1.

The purpose here it to review a selection of the Latin American coins in ways that are clear to a large number of readers, especially to those who are not collecting Latin American coins. My emphasis here is upon coins that are historically important, pertinent to collecting pursuits, and/or interesting to people who know little, if anything, about Latin American coins.

The coins in the Millennia collection tend to be of very high quality for their respective issues. Collectors should keep in mind, however, that lesser quality coins of the same issues tend to be much less costly, often less than one-tenth as much. Besides, even the poorest of collectors can enjoy reading about and studying coins that are aesthetically pleasing, are of historical significance, and/or are interesting in curious ways. (more…)

The Royal Mint has just released a four-coin collection set comprised of silver Piedfort specimens of the three new commemorative coins for 2008 - the two magnificent £5 pieces, one honouring the 450th anniversary of the accession of Queen Elizabeth I and the other celebrating the 60th birthday of His Royal Highness the Prince of Wales, and the bi-colour £2 coin marking the centenary of the Olympic Games held in London in 1908 - along with the £1 coin bearing a fresh rendition of the Royal Arms.

The four coins have been struck in the traditional sterling silver alloy to Proof quality and the £2 coin, to emulate the bi-colour nature of its circulating counterpart, has been plated with .999 fine gold on its outer ring. A maximum of 3,000 Silver Proof Piedfort Collections have been authorised for 2008. Each collection is beautifully displayed in a luxurious black display case and is accompanied by a full-colour booklet which incorporates an individually numbered Certificate of Authenticity.

Although not Piedforts in a strict sense, thicker than normal coins were produced across Europe during the early modern period, particularly from the mid-sixteenth century to the mid-seventeenth century, as part of the broader practice of striking prestige pieces. At this time the exchange of valuable gifts between rulers and members of their entourage became an established courtly exercise. Within this context coins struck on thick blanks, together with other types of prestige pieces, were prepared on behalf of kings and noblemen primarily for the purposes of presentation and display. From Poland to the Spanish Netherlands, from Sweden to northern Italy, coins of this sort provided rulers with a convenient means of emphasising their wealth and power. (more…)

By Greg Reynolds for CoinLink
This is Part 2 of my review and analysis of the auction of the Millennia collection of world coins.

At the auction, coins minted before 1300 AD, including but not limited to ancients, seemed to be of interest to a very specialized group of bidders. Coins minted afterwards captured the interest of a large number of floor bidders, even those who know little about them.

I observed that collectors and dealers of U.S. coins were attracted to many of the high quality European and Latin American coins. More so than at any other sale that I have attended, coin buyers seemed happy to venture out of their usual coin domains and bid on coins that grabbed their attention.

Andy Lustig bought a Brazilian 1810 silver coin, lot #972, for his personal collection, even though he does not collect Brazilian coins and has no intention of doing so. This coin is now “the only Brazilian coin” in his collection. Its “very unusual die break” initially got his attention, and he “found this coin to be very intriguing” overall. Lustig felt that he “just had to have it.” Andy paid $7188.

An especially choice 1854 large gold Bolivian coin captured the attention of Dr. Robert Hesselgesser as he was browsing auction lots. It is NGC graded MS-63 and is certainly at least a mid range 63. It is very sharply struck. Further, it has reflective surfaces and a cool look overall. Hesselgesser does not, and is not planning to, collect Latin American gold coins; he admits that he “just could not resist” buying it.

At the sale, I did not notice any Russians venturing far from their coin domains. Indeed, they seemed very focused on Russian coins. (more…)

by Greg Reynolds for CoinLink
This is Part 1 of my review and analysis of the auction of the Millennia collection of world coins.

On May 26, Memorial Day, the firm of Ira & Larry Goldberg sold the “Millennia Collection” of world coins from ancient times to the 20th Century including coins from a large number of nations and all continents. This one collection realized over $20 million, astonishing !

Even people who do not know anything about coins could easily appreciate a Spanish gold coin, minted in Segovia around 1500, that depicts Ferdinand & Isabella. Indeed, a newcomer to coins will see that it has almost zero scratches and contact marks, that it is highly detailed, and that it has attractive subdued luster. It is not necessary to know its grade in order to be stunned by its incredible condition. A grading expert would know that it is a special uncirculated coin and would probably conclude that it merits its certified grade of MS-63, which is an amazingly high grade for a coin minted circa 1500.

Jim Elmen, a long-time, world recognized expert in European coins, estimates that “less than fifty” such King Ferdinand & Queen Isabella gold coins of this issue are known. He adds, “it is an excellent coin” overall. It sold for $48,300 at the auction, a high price for a gold coin from Spain, but perhaps a reasonable price for an important piece of history. Ferdinand & Isabella significantly changed the course of world events. They unified Spain, defeated foreign forces, terribly expelled groups of innocent people from their societies, and are best known for sponsoring the voyages of Christopher Columbus. In many ways, the Millennia collection relates to important events and trends in world history.

While the Millennia collection will be forever remembered for its breadth, and for showcasing historically important coins, its primary characteristic is quality. A substantial number of Millennia collection coins are in the condition rankings for their respective dates and, more importantly, for entire types!

On May 26, ancient coins, mostly Roman, and Anglo-Saxon pennies were auctioned from around 10:00 AM until the early afternoon. Next, European coins were auctioned for the remainder of the afternoon and in the early evening. At night, coins from the rest of the World were sold. In the category of Latin American Crowns, the Millennia collection may be the all-time best to be publicly auctioned. This collection also includes a substantial range of large gold coins, especially of Great Britain and Latin America (more…)

The June 22, 2008 Champion Galleries sale in Hong Kong will contain many rare and interesting Chinese coins and bank notes, according to Champion Galleries President, Michael Chou. The sale will be held at the Holiday Inn Golden Mile in Kowloon, the site of major numismatic auctions and the Hong Kong Coin Show for more than 25 years. Bilingual catalogs, in both Chinese and English, may be reserved by contacting the company at the addresses at the end of this review.

Leading the list of rarities in this sale is the 1867 Shanghai Tael pattern stuck at the Hong Kong Mint (Kann 911a), from the Wayte Raymond Collection, certified Proof-64 by PCGS and NGC, and estimated to bring US $100,000 or more (all prices in this review are in U.S. dollars). Though inscribed with both Shanghai and Hong Kong, this coin was not intended for circulation in either place, but was to be a national coinage for use throughout China. Hong Kong in this case was simply a mintmark, and Shanghai indicated that it was struck to the standard of the Shanghai tael.

Another major rarity, certified by NGC as Specimen-64, is the 1903 Hupoo Tael (Kann 927). The dies for this coin, which features a unique type of dragon, were engraved in Japan, most likely at the Osaka Mint, but the coin itself was struck in Tientsin. This beautiful coin is expected to sell for $70.000. Estimated at the same level, is a 1907 Peiyang Tael (Kann 938a), which previously appeared in the 1991 sale of the Goodman Collection. Struck at the Tientsin Mint using the same Japanese style dragon as on the Hupoo coin, this piece is rated MS-62 by NGC.

From Kiangnan (the Nanking Mint) there is an undated Dragon Dollar struck in 1897, similar to Kann 66, but with a plain edge and struck in copper. Kann does not list this coin with a plain edge, though such exists in silver, and he does not list any copper strikings of the 1897 dollars. The plain edge 1897 dollars are listed in both silver and copper in H. Chang’s 1981 catalog, “Silver Dollars and Taels of China.” This copper pattern dollar is expected to bring $50,000. (more…)