A Prooflike NGC MS-63; Tied for Condition Census #3

The Half Dollars that the United States Mint delivered in 1797 differed from the previous issues for this denomination from 1794 and 1795. For in late 1796 Mint personnel adopted Robert Scot’s Draped Bust, Small Eagle design that had already been used in the production of 1795-dated Silver Dollars for use on the Half Dollar. The delivery of 1797 amounted to a mere 3,918 pieces, the first 934 or so examples having been struck from one of two 1796-dated obverse dies.

Surprisingly for a denomination that otherwise proved extremely popular with contemporary bullion depositors, no more Half Dollars were ordered until 1801, at which time the Large Eagle variant of the Draped Bust type became current. The Draped Bust, Small Eagle Half Dollar, therefore, became an instant numismatic rarity–a two-year type with a combined mintage of just 3,918 pieces. Survivors of both dates are very scarce-to-rare in all grades, and they never fail to cause a stir among advanced collectors whenever the coins make an appearance at auction.

The 1796-dated Half Dollar delivery was achieved through the use of two obverse dies and a single reverse die in two marriages. O-101 is easy to distinguish from O-102 as the former variety exhibits only 15 stars at the obverse border. There are fewer than 100 different examples of the O-101 die marriage believed extant, an estimate that allows us to further estimate the mintage for this variety at just 569 pieces. The phenomenal Choice Unc that we offer here traces its pedigree to the fabulous Norweb Collection–as well as other important numismatic cabinets–and it is tied for Condition Census #3 for the die marriage with only two other MS-63s of which we are aware:

1. Ex: Benjamin H. Collins (1/1896); J.M. Clapp; John H. Clapp; Clapp estate (1942); Louis E. Eliasberg, Sr.; The Louis E. Eliasberg, Sr. Collection (Bowers and Merena, 8/1997), lot 1673; Denver, CO Signature & Platinum Night Auction (Heritage, 8/2006), lot 5222. PCGS MS-63.

2. Ex: Four Landmark Collections Sale (Bowers and Merena, 3/1989), lot 1990; The Allison Park Collection Sale (American Numismatic Rarities, 8/2004), lot 418; Long Beach Signature Auction (Heritage, 6/2005), lot 6209; The Southwest Collection (Heritage, 2/2008), lot 528. NGC MS-63.

3 – Ex: Waldo C. Newcomer; Colonel E.H.R. Green; The T. James Clarke Collection (New Netherlands’ 47th Sale, 4/1956), lot 1195; The Norweb Collection (Bowers and Merena, 11/1988), lot 3024; The Dennis Irving Long Collection (Bowers and Merena, 1/1990), lot 256; 65th Anniversary Sale (Stack’s, 10/2000), lot 876; The Frog Run Farm Collection Sale (American Numismatic Rarities, 11-12/2004), lot 1236. NGC MS-63, the present example.

This coin is fully prooflike in finish and, in fact, the coin was cataloged as a “Proof” in New Netherlands’ 1956 sale of the T. James Clarke Collection. Numismatic scholarship having advanced considerably since the 1950s, we now know that this coin does not qualify as a proof in the strictest sense of the term. On the other hand, the fields are so well mirrored, the strike is so superior for a product of the early United States Mint and the surfaces have been so carefully preserved that we find it likely that this coin was specially prepared for presentation or other important purposes. (more…)

Bowers and Merena will conduct the official auction of the November 2010 Whitman Coin & Collectibles Baltimore Expo. Scheduled for November 4-5 at the Baltimore Convention Center, the sale will present more than 3,500 lots of important United States coins and currency.

“We are thrilled to continue our long-standing and successful partnership with the Whitman Coin & Collectibles Baltimore Expo,” said Greg Roberts, CEO of Bowers and Merena. “This year’s official auction of the November Expo ranks as one of Bowers and Merena’s most important Baltimore auctions of all time. With more than 3,500 lots, our catalog for U.S. coins and currency offers something for everyone, from collectors and dealers on a strict budget to advanced numismatists seeking the finest-known examples of some of the rarest and most famous coins ever struck in the United States Mint.”

Three consignments in particular stand out as defining the importance of the upcoming Baltimore auction. The Kupersmith Once-in-a-Lifetime Collection is a truly amazing offering, the likes of which is rarely seen in even the most prestigious sales, that has at its core six of the rarest gold coins struck in the Philadelphia in 1875. Nearly impossible to assemble such a collection in any grade, the consignor remained committed to quality and selected only the highest-graded examples that he could find, many of which are actually top-of-the-pop.

“Needless to say, it is difficult for us to single out one coin in this collection for each piece qualifies as a highlight, although special recognition must go to the 1875 Three-Dollar Gold Piece in NGC Proof-66 Ultra Cameo,” said Roberts. A pop 1/0 coin at both PCGS and NGC, this coin also ranks as the finest of perhaps just 10 original strikings of the proof-only 1875 Three-Dollar. Not to be overlooked and in addition to the 1875-dated gold set, the Kupersmith Collection will also be presenting a selection of rare proof and business strike Three-Dollar gold pieces, the proofs of which comprise the highest-ranked set on the NGC Registry.

The Malibu Collection offers the #2 collection of Standing Liberty Quarters with full-head designation on the PCGS Set Registry. “Nearly all of the Standing Liberty Quarters in the Malibu Collection are either top-of-the-pop or tied for finest certified, and plus-designated coins are figured prominently throughout the set. Of particular note are the low-mintage 1916 in PCGS MS-67 FH (Pop: 2/1), the conditionally challenging 1919-D in PCGS MS-66+ FH (Pop: 1/0) and the key-date 1927-S in PCGS MS-65+ FH (Pop: 1/2),” said Roberts. Other selections from the Malibu Collection include impressive runs of Seated Liberty Half Dollars and Silver Dollars that feature many key-date and/or conditionally rare pieces. (more…)

Bowers and Merena will feature the important and extremely rare proof gold coins from the Zürich Collection in the Official auction of the November 2010 Whitman Coin & Collectibles Baltimore Expo.

“We are extremely honored to include the Zürich Collection among the anchor consignments in our upcoming November Baltimore Auction,” stated Bowers and Merena CEO Greg Roberts. “Assembled by a collector who is a connoisseur of rare classic proof gold coinage, the Zürich Collection was assembled over a period of many years. Our consignor spent a lot of time and effort acquiring these coins, passing on many other pieces that did not meet his strict standards for technical quality and eye appeal. The result is a collection replete with stunning examples of both proof Liberty gold coinage and 20th century proof gold rarities, many coins of which are among the finest certified for their respective issues.”

Continued Roberts: “The core of the Zürich Collection is a selection of proof Liberty Double Eagles dated 1878 through the series’ end in 1907. The stand-out highlight in this group is the 1878 Double Eagle certified Proof-64 Cameo by NGC. With a surviving population of only nine specimens from a tiny mintage of just 20 coins, the 1878 is one of the rarest and most underrated issues in the entire proof Liberty Double Eagle series. The issue is particularly underrated relative to the proof Type I and Type II Double Eagles of the late 1860s and 1870s, many issues of which are equally as rare as the 1878 yet priced much higher in today’s market. The proof 1878 in the Zürich Collection, therefore, represents a particularly important bidding opportunity for the astute collector.”

Roberts concluded: “Additional Proof Liberty Double Eagle rarities in the Zürich Collection include two Gem-quality examples of the 1892—a date that is also an important rarity in business strike format—one of the two finest-certified 1897 Twenties in NGC Proof-66 Ultra Cameo and several Cameo-finish specimens from the early 20th century including a 1902 and 1906, both of which are the finest certified for their respective issues. The Zürich Collection is also well represented in other classic proof gold series, and we note the presence of an elusive 1876 Gold Dollar in PCGS Proof-64 Deep Cameo, the finest-certified proof 1884 Liberty Half Eagle in NGC Proof-66 Ultra Cameo, a sandblast proof 1913 Indian Half Eagle in NGC Proof-67 and a 1908 Motto Saint-Gaudens Double Eagle in NGC Proof-66 that was struck with the characteristic dark matte finish of the issue. Finally, the Zürich Collection also features a complete set of business strike Indian Quarter Eagles in MS-64, centered around the key-date 1911-D certified by NGC.”

Highlights of the Zürich Collection include:

• 1911-D Indian Quarter Eagle, MS-64 (NGC)
• 1876 Gold Dollar, Proof-64 Deep Cameo (PCGS), PCGS Population: 2/1
• 1884 Liberty Half Eagle, Proof-66 Ultra Cameo (NGC), Combined PCGS and NGC Population: 1/0
• 1913 Indian Half Eagle, Proof-67 (NGC)
• 1878 Liberty Double Eagle, Proof-64 Cameo (NGC), One of Just Nine Examples Confirmed Extant from a Mintage of 20 Coins
• 1892 Liberty Double Eagle, Proof-66 Ultra Cameo (NGC), Combined PCGS and NGC Population: 6/0
• 1892 Liberty Double Eagle, Proof-65 Cameo (NGC)
• 1897 Liberty Double Eagle, Proof-66 Ultra Cameo (NGC), Combined PCGS and NGC Population: 2/0
• 1902 Liberty Double Eagle, Proof-66 Cameo (NGC), Combined PCGS and NGC Population: 1/0
• 1906 Liberty Double Eagle, Proof-66 Cameo (NGC), Combined PCGS and NGC Population: 2/0
• 1907 Liberty Double Eagle, Proof-64 Cameo (NGC)
• MCMVII (1907) Saint-Gaudens Double Eagle, High Relief, Wire Rim, Proof-64 (NGC)
• 1908 Saint-Gaudens Double Eagle, Motto, Proof-66 (NGC) (more…)