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All Posts Tagged With: "Pedro II"

World Record $138,000 Brazilian 100 Reis leads $5.2 million+ Heritage CICF World Coin auction in Chicago

Revamped CICF auction brings more the 3300 bidders; World Coin market continues to excel, see broad demand

DALLAS, TX – There can be no doubt as to the continuing strength and ever-growing interest in the World Coin market after Heritage Auction Galleries April 21-22 Signature® World Coin Auction at the Chicago International Coin Fair (CICF) brought almost 3350 bidders to the table and realized a stunning total of more than $5.2 million.

“Heritage couldn’t be happier with the move of our spring auction to the CICF,” said Cristiano Bierrenbach, Director of International Sales at Heritage. “Anytime we can reach so many high-end world buyers in one place, and subsequently realize more than 94% by value and 97% by lot on an auction, we know we’re in the right spot.”

The auction also marked the beginning of a new CICF partnership between Heritage and Krause Publications, the producers of World Coin News, Numismatic News and Bank Note Reporter, among its many publications. By all accounts, the new union was an unqualified success.

“The addition of Heritage as official CICF auctioneer gave the show a big lift,” said convention chairman and Krause Group Publisher Scott Tappa. “The depth and breadth of the four-session sale attracted a great array of attendees and added to our growing bourse floor. We look forward to Heritage’s continued partnership with CICF and Krause Publications for years to come.”

“Scott Tappa and his crew put together a world class event and we matched it with more than 4700 lots for the Heritage collecting community worldwide,” said Bierrenbach. “When I think the world coin market can’t surprise us anymore, we have an auction like this with results much stronger than we could’ve predicted. It’s a wonderful thing to be a part of.”

Of all the international numismatic treasure up for grabs at the Heritage CICF event, a Brazilian rarity was to be the most coveted, with a Pedro II 100 Reis 1844, KM452, Russo 525, VF35 NGC breaking its own World Price Record of $84,000, set in May of 2008, when it finished at $138,000, more than doubling its base estimate of $60,000. The coin came to auction via the Paulistana Collection.

“This is the finest specimen of only three known,” said Bierrenbach. “In 1834, Brazil, now an independent empire, attempted a new monetary system nicknamed the Cruzado. While it ultimately failed by 1848, the 1844 100 Reis is without a doubt the jewel of the series.” (more…)