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Heritage CSNS Coin and Currency Auctions Tops $25 Million

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.”

Second in the hearts of collectors at CSNS was a sensational 1879 Flowing Hair Stella, Judd-1635, PR66 NGC that soared amidst heated bidding to $184,000, while a phenomenal 1853 Arrows and Rays Quarter, PR67 NGC, the finest certified and likely the finest known, was not far behind with a final price of $166,750. A marvelous Gem 1807 Capped Bust Half Large Stars, O-114, MS65 PCGS, the sole finest at PCGS, continued the run of six-figure coins with a price realized of $149,500 and a superb 1920-S Saint-Gaudens $20, MS64 PCGS, one of the keys to the entire series, brought $126,500.

On the currency side of CSNS, high dollar Federal Reserve notes were the chief objects of collector affection, as a St. Louis Fr. 2221-H $5000 1934 Federal Reserve Note, PMG Choice Extremely Fine 45 Net, only the third example of a 1934 $5000 from this district that Heritage has ever handled, tied for the highest lot in the auction with a final price realized of $69,000.

“There’s always demand for the top Federal Reserve notes that come on the market,” said Allen Mincho, Director of Currency Auctions at Heritage. “Especially one as rare as the St. Louis $5000, coming as it does from a district that produced the fewest notes of any, save the Cleveland district, from which we are still waiting for even a single note to surface.”

The St. Louis $5000 Federal Reserve note was matched, pricewise, by its Midwestern cousin, a Kansas City Light Green Seal $10000 2231-J $10000 1934 Federal Reserve Note, PMG Extremely Fine 40 Net, which also found a final price of $69,000. Just 1,200 Kansas City 1934 $10,000 Federal Reserve Notes were issued, about a tenth of the number of notes that the New York District issued, making this note a significant rarity indeed.

Currency highlights continued with a Serial Number 1 Lead, SD $5 1882 Brown Back Fr. 472, The First NB Ch. # 4631, a true South Dakota wonder note that is one of only six number 1 Brown Backs extant from all banks in the state combined, which finished the day at $37,375, a price matched by a Fr. 161 $50 1880 Legal Tender PMG Superb Gem Unc 67 EPQ. Only this Fr. 161 note and two others have been assigned this 67 EPQ grade by PMG with none graded higher.

Further Rare Coin Highlights include, but are not limited to:

Key 1932 Twenty Dollar, MS66 PCGS, tied for Finest Certified: Realized $126,500.

Original 1837 Half Eagle, MS65 PCGS. CAC. Large Date, Large 5, Breen-6512, McCloskey 2-B, R.3, high in the PCGS Condition Census for the date and type: Realized $100,625.

Magnificent MS64 NGC 1795 Draped Bust Dollar, Centered Bust, B-15, BB-52: Realized $92,000.

Highly sought-after 1931 Saint-Gaudens $20, MS65 PCGS: Realized $92,000.

Extremely rare 1786 Connecticut Copper, AU50, Miller 5.3-B.2, one of four known: Realized $86,250.

Further Currency highlights include, but are not limited to:

Confederate T2 PMG Choice Very Fine 35 $500 1861 PF-1: Realized $34,500.

Gorgeous PMG Graded About Uncirculated 55 Marietta Territorial, IT – $10 1882 Brown Back Fr. 490 The Marietta NB Ch. # (W)5958: Realized: $34,500.

Unique Ouachita National Bank Monroe, LA – $5 1882 Brown Back Fr. 469 The Ouachita NB Ch. # 3692: Realized $26,450.

The Highest Graded Fr. 164 $50 1880 Legal Tender PMG Choice Uncirculated 64, one of only three uncirculated examples known: Realized $23,000.

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