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…)

Gold remains dominant in surging rare coin market; 1921 Saint-Gaudens, Ex: Norweb, leads all lots with $218,500

With the final tallies for Heritage’s April 28 to May 3 Milwaukee Central States Numismatic and Currency auctions in at more than $20 million jointly – $16.9 million in rare U.S. Coins and $3.1 million in rare currency – the totals of the two auctions, in combination with the previous week’s Chicago International Coin Fair World Coin auction – a $5.2 million event – made for a 10 day stretch that totaled more than $25 million in total for the company. All prices include Buyer’s Premium.

“We continue to see great prices across all categories, with gold simply dominating,” said Greg Rohan, President of Heritage. “The economy is definitely improved, so we saw less volume as collectors don’t absolutely need to sell. That said, however, the market continues to climb past the previous record 2007-2008 levels on many coins.”

The rare U.S. coins portion of CSNS saw a superb 89% of lots sold by value and 92% by total number of lots, contested by just more than 7,250 bidders, while the rare currency sessions saw a highly respectable 86% of lots sell by value and 94% by total lots, with 1,915 bidders vying for the offerings.

The top lot in CSNS was the Select 1921 Saint-Gaudens Double Eagle MS63 PCGS, Ex: Norweb, an historic absolute and condition rarity with few peers in the world of numismatics, which brought $218,500

“We continue to see great prices across all categories, with gold simply dominating,” said Greg Rohan, President of Heritage.

“Gold currently rules, and the king is Saint-Gaudens,” said Rohan, “and the 1921 Saint-Gaudens double eagle is a premier rarity in the series, ranking as the third rarest regular issue, behind only the famous and ultra-rare 1933 and 1927-D examples. The price that this very smart collector paid for this amazing and famous coin is money very well spent.” (more…)

A 1921 double eagle, graded MS63 by PCGS and pedigreed to the famous Norweb Collection, is the signature rarity of the upcoming Heritage Auction Galleries U.S. Coin Auction, with floor sessions held April 28 – 30 in conjunction with the Central States Numismatic Society’s annual convention in Milwaukee, WI.

The Norweb 1921 double eagle, is an incredible coin in its own right but greatly aided by its pedigree. In our most recent auction in Fort Worth, the glamorous Norweb pedigree helped propel a 1911-D quarter eagle to the top of the Prices Realized chart, and the Norweb name is sure to aid this double eagle as well.

As with many later dates in the Saint-Gaudens double eagle series, the 1921 was never released to circulation in significant numbers, making it scarce today. The Norweb 1921 double eagle is the most important coin in The Carter Family Collection, which contains a broad range of rarities. Additional highlights include lot 2352, a 1920-S double eagle graded MS64 by PCGS, and lot 2370, a 1932 double eagle graded MS66 by PCGS.

Another marquee coin among the Platinum Night gold is Lot 2234, an 1879 Flowing Hair Stella in gold, graded PR66 by NGC. The unusual denomination of four dollars has made this pattern a longstanding favorite, accorded a place of honor alongside regular-issue coins in many collections and numismatic publications.

In minor coinage, two prominent Featured Collections cater to different tastes: The Boca Collection, Part II is a continuation of the collection first offered in January 2010, containing a wide selection of proof coins to be sold individually. Important selections include Lot 2406, a Snow-9 1856 Flying Eagle cent pattern PR63 NGC, and Lot 2714, an 1895 Morgan dollar PR64 Cameo NGC.

Copper and silver coins offer plenty of choices outside of the Featured Collections as well. Lot 2033, a matte proof 1909 VDB Lincoln cent graded PR64 Red and Brown by PCGS, has great appeal for 20th century copper specialists. (more…)