On May 14-15, Stack’s presented The Eldorado Sale in Atlanta, a rightly-termed event that was laden with significant gold rarities. Buttressing this impressive offering was a wealth of more common gold issues, a full complement of U.S. coinage that covered copper and silver issues, as well as medals, tokens, and currency. Prices were strong, particularly so in the gold section (whether it was gold rarities or more mainstream items), a testament to the security gold offers in times of uncertainty. The Eldorado sale proved that even during tough times, collectors are still willing to pay top dollar for rare coins!

Appropriately, Session One began on Thursday evening with U.S. gold issues and boasted an 1856-D gold dollar in AU-53 (PCGS), a coin that was formerly part of the Harry W. Bass, Jr. Collection, and one that sold for $10,350. Quarter eagles provided a solid base of coins as well, with particular emphasis on Dahlonega mint issues. An 1842-D, a rarity in its own right but especially so given its lofty grade of MS-61 (NGC) and one of the five finest coins of that date seen by NGC, brought $46,000. A few lots later appeared the 1853-D, an exciting MS-63 (NGC) example tied for the finest graded by NGC that sold for $37,375.

Half eagles provided bidders with many excellent opportunities, and clients seized ones like the 1803/2 Capped Bust $5. The coin, graded MS-63 by ANACS, and was sharply struck with lovely reflective fields and frosted devices; the bidding climbed to $20,700 before the lot closed. Other treats included an incredible 1855 in MS-64 (PCGS) (CAC), one of the four finest seen by PCGS, that made its way to $17,250 before the hammer fell. Ten dollar gold coins offered a nice spread and finished off with a mini-hoard of 1926 Indian $10’s, most of which were in the Gem category.

Double eagles came to the fore, offering over 150 lots that included selections from the Palm Beach Collection and also tendered the two highest realizations of the entire sale. The first of these was a recently discovered specimen of the extremely rare 1854-O. Certified as VF-30 by PCGS and awarded a green CAC sticker, this coin is one of maybe 25 to 35 survivors and represents a significant accomplishment for the advanced collector; this tremendous rarity sold for a hefty price of $195,500.

The second highest realization also appeared in this section in the form of the gorgeous gem 1924-D graded MS-65 (PCGS). Likely one of the very finest surviving pieces, it took $57,500 to secure this coin. Sandwiched in between these two highlights were other important opportunities-the 1891 AU-55 (PCGS) example was one of them; this classic rarity was knocked down for $35,650 after active bidding. Among Saint-Gaudens double eagles, two examples of the MCMVII (1907) High Relief design stood out. The first was the Flat Rim variety in MS-64 (NGC) that sold for $25,588 and the second was the Wire Rim variety graded MS-63 (PCGS) that brought $21,275. Rounding out the section of $20 gold pieces was an impressive 1929 example graded MS-64 by PCGS that realized $35,650.

Many Territorial gold coins also commanded significant prices. The first was a noteworthy 1850 Mormon $5 gold piece, a rare piece that was remarkably free of the cleaning or tooling so often associated with these specimens. In EF-45 (PCGS), this original coin sold for $25,300. Two Clark-Gruber pieces topped the list as well: an 1860 $10 in AU-55 (NGC) that garnered $23,287.50 and an 1861 $2.50 in MS-63 (PCGS) that maxed out at $25,300. Patterns and error coins led the way into the extensive selection of U.S. silver dollars. Over 500 lots of dollars, including long runs of certified groups, marked the end of the first session of the Eldorado Sale.

Session Two began on Friday evening with Obsolete Currency from the Reference Collection of Q. David Bowers. More than 100 lots of federal currency followed, and featured a gem $5 Lincoln “Porthole” Silver Certificate graded Gem Uncirculated-65 (CGA) that closed for $4,600. National bank notes offered a very rare First National Bank of Campbell, Minnesota $5 note in Very Good condition; this note is one of just two known for this one-bank town, and sold for an impressive $4,312.

U.S. medals and tokens were up next, where an exquisite Abraham Lincoln Indian Peace Medal took center stage. This large size silver medal was in remarkably good condition (Extremely Fine) and found its new home after a winning bid of $25,300. So-called dollars also made an appearance in this auction, held in the year of the Quadricentennial of Hudson’s voyage, 2009, with appropriately notable examples of issues from the 1909 Hudson-Fulton Celebration. A 1909 Hendrik Hudson Daalder (HK-371) graded MS-67 (NGC) sold for $4,025, and a 1909 Robert Fulton Dollar (HK-375) in the same grade went for $3,450.

U.S. minor coinage comprised the last section of the Eldorado Sale and included several notable highlights. The popular 1793 Chain AMERICA cent with a curved planchet clip made an appearance in Fine-12 (NGC), offering bidders the chance to acquire a Chain cent and a mint error in one lot! This coin went to its new owner after a top bid of $13,800. Small cents presented an attractive 1856 Flying Eagle graded Proof-63 by PCGS that climbed to $13,800 before it closed, and half dimes offered an MS-60 (NGC) 1796/5 example that culminated in final price of $15,525. Dimes, quarters, half dollars, commemoratives, and sets finished out the Eldorado Sale in fine fashion, with a balanced selection of early and late dates of each type.

For further information on participating in or consigning to an upcoming Stack’s auction, contact Stack’s at 123 W 57th Street, NY, NY 10019 or Stack’s at Box 1804, Wolfeboro, NH, 03894. By phone please use 800-566-1580 or 866-811-1804. Full sales results from The Eldorado Sale, as well as full photos and text from previous sales, are available online at www.stacks.com.

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