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All Posts Tagged With: "Fun Show"

The Finest New Orleans Double Eagle Gold Coin to be Sold at FUN

The upcoming 2011 January Tampa FUN Signature & Platinum Night US Coin Auction features what is probably the finest New Orleans twenty of any date. Easily the finest known 1852-O double eagle, this Gem has been off the market since the early 1970s, when our consignor purchased it through a private treaty transaction with Stack’s.

This coin has long been unavailable for study by most modern researchers, although Doug Winter was aware of it when he wrote the first edition of New Orleans Mint Gold Coins: 1839-1909 in 1992. At that time, Winter considered the specimen in the Dallas Bank Collection the finest known 1852-O, with this coin listed in the number two spot. Like the present coin, the Dallas Bank specimen had only been examined by a few specialists during the 1990s.

After the collection was sold in 2001, Winter had the opportunity to view the coin, and he determined that the present specimen is actually superior to the Dallas Bank example. Jim Halperin, Co-Chairman of Heritage Auction Galleries, had the opportunity to study this coin many years ago, and he always believed it was special. Halperin states that this coin is “By far the best condition New Orleans twenty I have ever seen.” Discounting the SP63 PCGS 1856-O double eagle, a coin that many consider a full proof, no other New Orl eans Mint twenty has been certified in any grade above MS63 by NGC or PCGS.

In 1852 the New Orleans Mint produced a generous mintage of 190,000 Liberty Head double eagles, largely due to the influx of gold from the California gold fields. Because of its substantial mintage, the 1852-O is one of the more available Type One double eagles from the New Orleans Mint. Winter estimates a surviving population of 900-1100 pieces in all grades. Most examples seen are in lower circulated grades, and the issue becomes scarce in AU55 and quite rare in Mint State. Due to the availability of the 1852-O in AU, the date is always in demand from mintmark type collectors, seeking a high grade example for their collections.

Of course, the Miller collection coin is in a class of its own as a condition rarity. No 1852-O double eagle of comparable quality has been offered at auction since the Dallas Bank specimen came on the market, nearly a decade ago. In 2006, a PCGS graded MS62 specimen realized $48,875 as lot 5580 of the Denver Signature Auction in 2006, but even that coin clearly lacked the quality of this magnificent Gem, which grades a full three points higher.

As the finest known specimen of the date, with claims to the title of finest New Orleans business strike double eagle, it might be fair to compare this coin to the finest known specimens of other issues offered at auction recently. Considered as a date, the 1852-O is not in the same rarity category as the 1856-O, the classic rarity of the series, but the rarity of the 1852-O in MS65 is just as great as the rarity of the 1856-O in SP63. (more…)

1861 $10 Demand Note, only known, to headline Heritage FUN Auction in Tampa

First Heritage Currency auction of 2011, Jan. 6-8, at Tampa FUN Convention

Heritage Auctions, the official auctioneer of the Florida United Numismatists (FUN) Show, will present a substantial number of rare and exceptional notes as part of its Signature® Currency Auction. The auction will consist of three floor sessions, held Jan. 6-8, 2011 in Tampa, FL and one online-only session that will take place Jan. 10, 2011 in Dallas, TX.

Among the scarce items is a newly discovered Fr. 10a $10 1861 Demand Note, the only known example. The recently released 19th edition of Paper Money of the United States listed examples of that Friedberg number as “unknown.” Clerks signed the notes on behalf of the Treasurer of the United States and the secretary of the Treasury and included the handwritten notation “for the.” The process proved to be too cumbersome and the plates were changed to include that wording. All of the handwritten “for the” examples are rare today, with a St. Louis example unknown until now.

A number of exceptional Large Size Legal Tender notes are being offered, including a Fr. 127 $20 1869 Legal Tender graded by PCGS as Gem New 65PPQ. That note is among a large number of outstanding notes being offered as part of The Menlo Park Collection. A Fr. 1072a $100 1914 Red Seal Federal Reserve Note graded PCGS Gem New 65PPQ is also being auctioned as part of the collection.

Also among the Legal Tender offerings is a Fr. 158 $50 1880 Legal Tender graded by PCGS Choice About New 55. A rare note, it is one of only nine examples known. The $50 is new to the census and is being offered publicly for the first time.

Several exceedingly rare replacement notes will be presented, including a Fr. 303* $10 1908 Silver Certificate, one of only three replacement notes known for the type, graded Very Good 10 Net by PMG. The note is new to the census and is being offered to the collecting community for the first time. (more…)

Unique 1943 Bronze Cents Set To Be Displayed at the FUN Show

The first-ever public display of the one-of-a-kind set of 1943 bronze Lincoln cents from the Denver, Philadelphia and San Francisco Mints will be hosted by Professional Coin Grading Service and Legend Numismatics, Inc. during the first three days of the Florida United Numismatists convention in Tampa, Florida, January 6, 7 and 8, 2011.

The unprecedented exhibit marks the first time the complete set has been included in the PCGS Set RegistrySM. It also marks the fulfillment of a boyhood dream of the collector who owns the coins, Texas business executive Bob R. Simpson, Co-Chairman of the Texas Rangers baseball club.

“A total of nine off-metal World War II-era Lincoln cents from Mr. Simpson’s collection will be displayed at the PCGS booth (#102) at the FUN convention,” said Don Willis, President of PCGS, a division of Collectors Universe, Inc. (NASDAQ:). “There’s the unique set of three 1943 bronze-planchet cents, a set of three 1944 cents on zinc-coated steel planchets, and three wartime Lincoln cents erroneously struck on silver planchets apparently intended for the production of dimes.”

Simpson wanted to own a 1943 bronze cent error since he was a teenager, and now owns the only-known 1943-D bronze cent as well as other wrong-planchet, wartime cents. All will be exhibited at FUN.

Zinc-coated steel was used for producing cents in 1943 to conserve copper for other uses during World War II, but a small number of coins were mistakenly struck on bronze planchets left over from 1942. In 1944 the Mint resumed use of copper for cent production using recycled ammunition shell cases; however, a small number were mistakenly struck on zinc-coated steel planchets intended for use only on 1943-dated cents.

“Mr. Simpson is the first collector to ever assemble a complete P-D-S set of bronze-planchet 1943 Lincoln cents,” said Laura Sperber, President of Legend Numismatics. “When he recently saw all three coins together for the first time, he said, ‘This is incredible!’ Now, he’s graciously agreed to publicly display them.”

Sperber said that when he was a youngster, Simpson thought he’d actually found a 1943 copper cent in circulation. “But it was not authentic. He still has that in his desk drawer.”

The unique 1943-D bronze cent was purchased by Simpson in September for a record $1.7 million through Legend Numismatics after four years of negotiations with the coin’s anonymous former owner who donated all the proceeds to charity. It is the highest price ever paid for a United States cent.

“It was always special to buy each coin for this set, and until I had all the coins together I just did not realize how important and unreal this project really was! I’m as excited as any collector can be to see this amazing display,” Sperber said.

“Not only is Mr. Simpson’s Set of Off-Metal Cents the All-Time-Finest, it’s the absolute finest possible given the scarcity of the coins,” said BJ Searls, PCGS Set Registry Manager. “Photos of Mr. Simpson’s 1943 bronze and 1944 steel cents can be viewed online in the PCGS Set Registry for ‘Lincoln Cents Off-Metal Strikes, Circulation Strikes (1943-1944)’. The one-of-a-kind complete set has a weighted grade point average of 62.89.” (more…)

Coin Profiles: Monumental 1795 $10 Gold Eagle, 13 Leaves Featured in Heritage Fun Sale

This 1795 13 Leaves eagle, BD-1, certified MS64 NGC, is a monumentally important coin in both aesthetic and historic terms. The obverse of the BD-1 variety is attributed by the 1 close to the lowest lock of hair, with a closely spaced date and the flag of the 5 overlying the drapery. Star 11 is quite close to the Y adjacent, which shows two tiny “lumps” (a die line, in reality) on the left outside serif. The stars are arranged 10 and five (as on all five 1795 Bass-Dannreuther varieties), with the right-side stars cramped tightly together. This is the only pairing that employs this particular obverse.

The 13 Leaves reverse shows a palm leaf virtually touching the left bottom of the U in UNITED, and the tip of the branch stem just about bisects the bottom of the last A in AMERICA.

As mentioned, the obverse this variety is unique to this die marriage. The reverse, on the other hand, is shared with the BD-2, slightly rarer at High R.4. John Dannreuther writes in Early U.S. Gold Coin Varieties:

“Bass had a State c/b of this variety that was sold in Bass III. There likely, as noted, is a later state of this obverse die, as this variety is its only use. The obverse die broke or received some other fatal injury to cause it to be retired.”

The obverse of this example shows about the same state of die advancement as the Bass coin, with a light die crack running from the rim above star 10, through star 9 and downward through all left-side stars, continuing from there to the bottoms of the 1 and 7 in the date before terminating just below the 9. Another wispy die crack runs from a point of star 13 through the upper part of star 14 and the center of star 15 before ending at the forward bust tip.

The determination of the reverse die state (or stage) is more problematic; light planchet adjustment marks appear in most of the areas diagnostic for die states. Suffice it to say that no cracks are obvious among those enumerated in Bass-Dannreuther.

More important than the die state–which in any case matters to some specialists-researchers a great deal and to many type collectors little at all–is the enormous aesthetic appeal of this coin, which we believe surpasses the Bass III coin mentioned. The orange-gold surfaces show vibrant, prooflike luster throughout both sides, a trait that some Mint State specimens do show. Dannreuther writes in this regard: (more…)

Legendary $20 Gold 1882 Double Eagle Coin To Be Offered by Heritage at Summer Fun Auction

The 1882 double eagle is so rare that even the Smithsonian Institution, keeper of the National Numismatic Collection, lacks an example of this issue.

While there are numerous double eagle issues from the late 1870s through early 1890s that boast extraordinarily low mintages, the 1882 is the absolute lowest-mintage of them all, at 571 coins. Any representative of this issue, in any grade, is an extraordinary rarity.

The next-lowest mintage of the denomination in the 1880s is the 1885, produced to the extent of 751 coins–an increase of over 30% in comparison to the 1882. In fact, the 1882 double eagle has the lowest mintage of any circulation strike in the double eagle series, save for the 1861-P Paquet Reverse.

The 1882 double eagle is not only an issue with a remarkably low mintage to begin with, but its rarity is compounded because so few were saved. The handful of contemporary collectors who specialized in gold–and they were few and far between–preferred proof examples, which could be had from the Mint for a modest premium.

The reasons for the minuscule mintage are complicated. Mint officials had adopted a new policy to stimulate national demand for half eagles and eagles, according to Rusty Goe in The Mint on Carson Street.

“… double eagle output was decreased on a national scale as the Treasury implemented its new policy of expanding the distribution of $5 and $10 gold pieces. It was the Treasury’s conviction that if more gold coins in denominations less than twenty dollars were in reserve at Mint offices around the country, depositors would accept these coins in payment in lieu of waiting for additional double eagles to be struck.”

At any rate, the nation’s operating mints had other troubles, as they shouldered the enormous burden of Morgan silver dollar production in 1882, amounting to more than 27.5 million pieces at four facilities.

By contrast, only three mints struck double eagles at all, as New Orleans’ last twenty was the 1879-O. In 1882 San Francisco struck 1.13 million twenties, with nearly 40,000 in Carson City–and the legendary low mintage of 571 double eagles in Philadelphia.


This coin will be offered at  Heritage’s Official Summer Fun Sale in Orlando, Fl as Lot # 1464

Population: 2 in 53, 7 finer (6/10)

Some Random Observations About the 2010 FUN Show

By Doug Winter  – www.RareGoldCoins.com

Just like that (cue snapping fingers and whooshing sound) the 2010 FUN show came and went. For me, FUN is always productive and this year was no exception. I had a very good show and instead of the usual tedious (and self-serving) show report, I’d rather share a few random observations about the convention.

random_thoughts*I looked at oodles and oodles of coins at the show and what I didn’t see is, to me, every bit as interesting as what I did see. Two market areas that I participate in but found virtually impossible to buy in were early gold and Type One Liberty Head double eagles. I wanted to come back from the show with at least five pieces of early gold. I returned with none. Zero. Zilch. I saw some overgraded, dipped out coins that had been around the block. I looked at an interesting deal of early quarter eagles that was priced “enthusiastically.” But I saw virtually no fresh, interesting pieces of early gold.

My take on this is that most of the nice examples that have been sold in the past few years are in strong hands and people just don’t want to sell right now; especially with prices being a bit flat in this area. Same with Type One double eagles. I saw about thirty 1857-S and 1861 but virtually none of the interesting dates. I think this is due to the fact that there are many collectors interested in these coins right now (especially the better dates priced below $10,000).

*Fairly expensive coins sold very well at the show, at least for me. In the new market reality I define “fairly expensive” as $10,000 and up. I came to the show with around 20 coins that fit into this category and sold every single one. If the coin was interesting or fresh or nice for the grade, there were ready and willing buyers.

*Unlike Long Beach or some other shows, FUN seems to bring out new faces. I sold coins to four or five collectors that I had never met before. (more…)

Legend Numismatics Market Report: The Fun Show

By Laura Sperber – Legend Numismatics

legend_market_report_logoTHE 2010 FUN SHOW

First, congratulations to the FUN people. Yet again they show that hard work and listening to what we all want can make for a great show. There are only three “MUST ATTEND SHOWS”, FUN, ANA Summer, and of course our own COINFEST. Attendance was as strong as we have ever seen it. The overall activity was healthy too.

LEGEND PAID $1,495,000.00 FOR THE $20 1927-D PCGS MS66!

We had our eyes on this coin since Heritage announced they had it in auction. But a funny thing happened in Decemeber.

Legend is proud to announce in December 2009 it bought and sold the Eliasberg $20 1927-D PCGS MS66. The purchase and sale were by private treaty. The buyer, a real collector happens to be new to coins. The Eliasberg coin is believed to be the FINEST 27-D in MS66.

The reason why we purchased the Heritage coin is 100% proof of what we have been saying. Really wealthy people are trolling for great value. The collector who bought the coin from us did it on our say so. We knew that by placing the Eliasberg coin, there was one less buyer for a 27-D. Thus, we took a “shot” on the coin in the sale and it worked. There is no question we got the “rip” of the auction. 27-D $20’s in MS66 are pretty much a $2 million dollar coin (although this coin is clearly not equal to the Eliasberg coin)! The last time we stalked a big coin like this, was about 4 years ago and we purchased a Ultra High Relief PCGS MS68 for $1.8 million out of a FUN Sale (of which we were immediately offered $2 million). Sometimes people are so confident a coin will bring x, they simply do not follow it.

Legend has now bought and placed THREE MS66 27D $20’s-The Dallas Bank coin (which mirrors the Eliasberg coin), The Eliasberg coin, and the Connecticut State Bank coin (this purchase). We do not think any other dealer comes close to having handled as many.

Also, with this sale, Legend has now placed million dollar coins with SIX DIFFERENT collectors! NO OTHER DEALER (not counting auctions) has come close to that either. Again, its not just bragging, its POWERUL proof as to the strength and more importantly confidence of the participants in today’s market. (more…)

Preparing Yourself for the FUN Coin Show in Orlando

BY Doug Winter – Raregoldcoins.com

Amazingly, the 2010 FUN is a scant two weeks away. If you have decided to attend the show (and I strongly suggest that if you go to just one show all year that this you consider this one) here is a short list of things to consider.

orlando_convention_center1. Bring a good lamp. Viewing conditions at the FUN show are not optimal and a good coin viewing lamp is essential. Try if possible to recreate the conditions that you use when you view coins at your home or office.

2. Pull the trigger on really cool coins. My gut feeling is that really good coins are going to be in short supply at this year’s FUN show. My best advice is that if you see something that looks really great or something that you’ve wanted for a long time, don’t waffle.

3. Take an hour lunch break every day. The FUN show is huge and it can be a pretty intense experience for the collector and dealer alike. I think it’s a great idea to leave the show for an hour every day in order to eat a good lunch and take a coin break. Some of the worst purchases I’ve ever made at shows have been when I’ve been tired, cranky and hungry.

4. Have a game plan. If you’ve never been to a major show like FUN, it can be really intimidating. There are hundreds and hundreds of dealers and it’s hard to know where to start. Before you go, spend time on the FUN website (www.FUN.org) and make a list of the dealers that you want to see first. (more…)

New Gold Indian Cent Error Coin to be Sold By Heritage at FUN

Exactly five Indian cents are known on gold planchets, according to information available. Among them are three dated 1900, this piece dated 1905, and an example dated 1906.

ha_1905_indian_cent_gold_error_120509The Judd pattern reference lists 1900 and 1907 gold cents in the section on mint errors. However, Andrew W. Pollock, III listed the 1900 gold Indian cents as P-1990 in the regular pattern section of his reference.

Pollock writes: “Listed in Judd as a mint error, but it is difficult to imagine that a Mint employee would be so careless as to feed gold planchets into a coinage press fitted with one-cent piece dies.” Pollock suggests that these pieces may have been deliberately struck for one or more collectors.

One example dated 1900 is also known in silver, from the identical dies as the 1900 gold Indian cents, suggesting they were all made at or near the same time. Rick Snow writes in A Guide Book of Flying Eagle and Indian Head Cents that “both the silver and gold examples are struck from the same dies, with light roughness on the reverse die, probably from die rust.” That all three 1900 pieces have higher weights suggests that they were specially made, perhaps without the knowledge of Mint officials.

Fred Weinberg explains that “the weights vary because in all probability, they were on planchets that might not have been filed down to the proper weight spread.” Hand adjusting of individual gold planchets continued in the Mint until circa 1910. Those three pieces are almost certainly fancy pieces made for collectors, while the 1905 and 1906 examples, on correct weight planchets, are more likely pieces truly made in error, and substantially more important as such. (more…)

PCGS To Dispaly All-Time Finest Registry Set of Early U.S. Half Dollars at FUN

1794 half dollar, PCGS MS61 finest known, from the Dale Friend Collection.More than 100 coins from the all-time finest registry set of early U.S. half dollars in the PCGS Set RegistrySM will be displayed at the Professional Coin Grading Service booth, January 7 – 9, 2010, during the first three days of the Florida United Numismatists convention in Orlando. The coins are from the collection of Dale Friend of Nevada, and 20 of them are either the finest or tied for the finest ever graded by PCGS.

“This wonderful collection has been assembled over many years. Dale has always attempted to combine the finest technical grade with the choicest eye appeal. Most of these early half dollars have gorgeous, original toning and luster, and are a pleasure to examine,” said Donald E. Willis, Jr., President of PCGS, a division of Collectors Universe, Inc. (NASDAQ: CLCT).

Friend’s basic set collection of circulation strike early half dollars, 1794 – 1839, has been ranked number one in the PCGS Set Registry the past six years. His set with major varieties has been the best the past four years. Both sets have earned the honor of being the number one all-time finest in their category.

“The basic set is 100 percent complete and has a weighted grade point average of 59.831. The early half dollars set with varieties is nearly 90 percent complete and has a weighted GPA of 59.104,” said BJ Searls, PCGS Set Registry Manager.

A total of 101 coins from Friend’s award-winning early half dollars collections will be exhibited at the PCGS booth, #138, at the FUN convention. (more…)