The December 3rd Coins and Banknotes sale, presented by Bonhams New York, was the first of its kind to be held at the auctioneers’ New York showrooms, numismatics from across the globe eagerly awaited the opportunity to bid on over 400 exceptional lots.

“I am delighted to have been able to organize and hold our inaugural auction at Bonhams New York,” commented Director of Coins and Banknotes, Paul Song. “Although some parts of the rare coin and banknote market were selective, we had areas of incredible strength, most notably in the US gold, where we realized prices never seen before for US regular issue gold coinage of the 19th and 20th century. We look forward to our next auction in the spring of 2010”.

Clearly one of the most coveted lots in the sale was a 1915-S $50 Panama-Pacific Round (pictured, above). Considered one of the most desirable of Classic Era commemorative coins, this is the largest official coin produced by the United States Mint and features the helmeted head of Minerva on the obverse and an owl on the reverse. With an amazingly limited number of defects, both sides are bathed in a shimmering velvet bloom. The rarity and importance of this issue, as well as the beautiful quality, resulted in a final price of $54,990.

Also drawing collectors was an 1851-O $20. Although coined in a large mintage of 315,000 pieces, the vast majority of these disappeared long ago. Only a mere handful exist in high grades, and perhaps just 100 or so are of as fine a quality of the present example. Touching off a round of intense bidding, this fine and seldom found piece drew the impressive price of $12, 285. (more…)