The much anticipated Platinum Night section of Heritage’s Central States Signature Sale in Cincinnati concluded last night. The preliminary conclusion is that the market still has legs and that high quality coins are easily finding new homes albeit at generally lower prices that the original coins were purchased for.

With 4 sessions to go, plus the Currency auction, all sales up to this point total over $32,979,089. so we expect the full sale to generate well in excess of $40 million.

According to Jim Halperin. Co-founder of Heritage,  who is providing a series of live comments from his Twitter account (http://twitter.com/JimHalperin) “Auction Session #1 realized $3,670,920.75.   90% of value and 92% of the lots sold so far. Prices averaging about the same as at FUN”

Of course one of the main Highlights of the sale was the Adams-Carter 1804 Class III Silver Dollar AU58 PCGS.. CoinLink profiled the 1804 Dollar prior to the sale. and news agencies across the county have posted stories about it, including a front page headline on Yahoo News yesterday. The 1804 Brought $2.3 Million and was purchased by NJ Coin Dealer John Albanese. (See Story Here)

According to Halperin, Platinum Night started out strong “Looks like about 75-100 bidders in the room. Hundreds more on HA live.”

First Joseph Thomas coin, an MS64 Continental dollar, opened at $100,000 and hammered at $170,000 + Buyer’s Premium. A good start and the sale was off to the races.  There were mixed reviews as to the values the Joseph Thomas Material brought.  Greg Reynolds commented in his article on this collection just a few days ago, ” it is the best collection of U.S. silver coins to be sold at public auction since John J. Pittman’s U.S. coins were auctioned in October 1997 and May 1998. ”

However it appears prices for many of the coins were below what the original consignor paid for them just a short time ago.  We have heard estimates of between 10-30%  less, but we will have to research this before making any additional comments.

Up to this point, some Sale highlights include:

• 1804 Bust $1 Class III PR58 PCGS – $2,300,000
• 1870-S Seated $1 XF40 PCGS – $503,125
• 1794 Bust $1 MS61 NGC – $503,125
• 1876-CC Twenty Cent 20C MS66 PCGS – $460.000
• 1795 $1 Draped Bust, Centered MS65 PCGS. – $253,000
• 1919-D Walking Liberty Half MS66 PCGS – $253,000
• 1808 $2 1/2 Quarter Eagle MS62 PCGS. CAC – $253,000
• 1918/7-D Buffalo Nickel 5C MS65 PCGS – $253,000
• 1796 Bust 10C MS67 STAR NGC – $253,000
• 1839 50C No Drapery Bust Half PR65 NGC – $241,500
• 1870-CC $20 Double Eagle XF40 PCGS – $230,000
• 1793 1C Wreath Cent, Lettered Edge MS64 Brown PCGS – $207,000
• 1776 $1 Continental Dollar, CURENCY, Pewter MS64 PCGS – $195,500
• 1802 Half Dime XF45 PCGS – $195,500
• 1892-S Seated $1 MS67 NGC – $195,500
• 1892-S Morgan $1 MS67 NGC – $195,500
• 1838 25C No Drapery Seated Quarter MS68 PCGS – $195,500
• 1822 25C 25/50C MS66 NGC – $184,000
  More Auction results and news will be posted this coming week. Stay Tuned !

Related posts:

1. Queller’s 1804 Dollar Leads Heritage’s CSNS Platinum Night Auction
2. 1804 Dollar sells for $3.7 + Million at Heritage CSNS Sale
3. Queller’s 1804 Dollar Reaches $3,737,500 at Heritage’s $44 Million CSNS Auctions
4. Ninth Known Specimen of the Rare 1817/4 Half Dollar in Heritage Platinum Night Sale
5. $27 Million Realized in Price Collection and Platinum Night Sessions
6. The Pre-ANA Show and the Heritage Los Angeles Platinum Night Sale
7. Platinum Night was Golden; Bellwether Sale Sparks Markets for U.S. Coin Rarities
8. Platinum Night Drives Heritage’s $62 Million FUN Auction
9. $19mm+ Platinum Night! Heritage ANA Auction Approaches $29 Million
10. $15 Million Platinum Night Highlights Heritage’s 2007 Milwaukee ANA