by Greg Reynolds for CoinLink

Superior, Stack’s and B&M are all conducting auctions in the Baltimore area before the ANA Convention starts on July 30th. A staggering assortment of U.S. coins and other numismatic items will be offered. I will discuss some of the coins that are rare, are interesting in other ways and/or are ‘in the news’ for some particular reason, like multiple examples of a scarce issue being offered in more than one pre-Convention auction.

The key Proof in the Shield Nickel series (1866-1883) is the 1867 ‘With Rays.’ The pre-ANA auctions include three of these.

Not long ago, it was thought that there were fewer than twenty-five Proof 1867 ‘With Rays’ nickels. In recent years, it has become apparent that there are more. An estimated mintage of seventy-five is listed on CoinFacts.com, and the April 2008 PCGS Population report lists a mintage of sixty and indicates that fifty have been certified by the PCGS, a number which certainly includes numerous resubmissions of some of the same coins.

My guess is that the PCGS and the NGC have certified about forty-three DIFFERENT Proof 1867 ‘With Rays’ Shield Nickels. If there are another dozen or so that have never been submitted to the PCGS or the NGC, then the total in existence is probably around fifty-five. So, it is still extremely rare in Proof format and is highly demanded as Shield Nickels are a very popular series.

Superior will auction a Proof 1867 ‘With Rays’ that is PCGS certified Proof-64 with ‘Cameo’ contrast. B&M will offer two, both of which are PCGS graded Pr-64. The first, though, is in a holder with a green label, and was thus certified a while ago. Many, though nowhere near all, of the coins that PCGS graded in the 1990s qualify for higher grades now, since the grade-inflation of 2003 to 2007. Although I have not seen this specific nickel, the catalogue image suggests that it may have really neat, natural russet toning.

Flying Eagle Cents are even more popular than Shield Nickels. The 1856 Flying Eagle Cent is a longtime collector favorite. There are six 1856 Flying Eagle Cents in the pre-ANA auctions.

Almost every coin collecting kid has acquired a few Indian Cents and has dreamed of an 1856 Flying Eagle Cent. I will always remember when I first acquired an 1858 Flying Eagle Cent. I was about eight years old, and this 1858 maybe graded AG-03. I was not much older when I first saw an 1856, a Gem Proof Flying Eagle cent that a local coin dealer showed to me. I was enthralled.

Superior is offering a Gem Proof 1856 Flying Eagle Cent. It is NGC graded Proof-66. B&M is offering three, including two NGC graded PF-65 coins of different die varieties, and a PCGS graded Proof-62. Stack’s is offering two 1856 Flying Eagle Cents, an uncertified piece that may have serious problems, and an NGC graded AU-58 coin.

Stack’s is also offering five 1859 Copper-Nickel Indian Cents, all of which are PCGS or NGC graded MS-64. These are a popular one-year type without a shield. In 1860 and afterwards, the reverse (back) design of Indian Cents features a shield at the top. B&M is putting two 1859 Indians on the block, both are NGC certified, MS-65 and MS-64 respectively,

All three firms, as is Heritage in the official ANA auction, are offering runs of Indian Cents, Lincoln Cents, and Two Cent pieces, many of which are certified as possessing original Mint red color. Additionally, Stewart Blay’s incomparable collections of copper coins, including many superb Indian and Lincoln cents will be on display at the ANA convention. Choice, small copper coins seem to be a theme, this summer, in Baltimore.

Traditionally, 1877 is the key date in the Indian Cent series. B&M will sell three. The first is NGC certified Proof-64 with a ‘Red & Brown’ color designation. This coin also has a CAC sticker, which means that it has been verified by the CAC as not having any serious problems and being “solid for the grade.” The two others are business strikes, a PCGS graded AU-53 1877 and an NGC graded EF-45 cent. Stack’s is selling an NGC graded AU-58 1877 cent.

Stack’s is also selling two 1875 Indian cents. While not a rarity, the 1875 is relatively rare in the Indian Cent series. One 1875 cent is NGC certified Proof-66 ‘Red & Brown,’ and the other is PCGS graded MS-65 with a full ‘RED’ designation, which is valued in the PCGS price guide at $4150. The same guide values an 1875 cent in Fine-12 ‘Brown’ at $50.

Additionally, Stack’s is offering several better-date early Indians in MS-64 or -65 grade. Among B&M’s offerings of cents is a run of many Indian Cents dating from 1881 to 1909, including both business strikes and Proofs, in 65 to 67 grade. Several of these have full red designations by PCGS or NGC.

The most famous dates in the Lincoln Cent series are the 1914-D and the 1909-S with the designer’s initials, VDB, plainly visible on the reverse (back of the coin). The pre-ANA Stack’s sale contains six 1909-S VDB Lincolns and one 1914-D that is NGC certified MS-65 ‘RB’ (Red & Brown color). Similarly, B&M is offering three 1909-S VDB Lincolns and one 1914-D which is PCGS certified MS-65 ‘RD’ (Full Red) with a sticker of approval from the CAC.

Curiously, the Superior sale contains two 1955/1955 “Doubled Die” Lincolns; the Stack’s sale contains five, and the B&M sale has seven! Perhaps at least one of these fourteen will realize a moderate price. It is not difficult to complete a set of Lincoln Cents and it can bring back memories of childhood collecting adventures.

When I was a kid buying coins from coin dealers, I particularly liked Barber coins. Circulated Barber coins, with natural toning and honest wear, were (and still are) available for low prices. Further, the various mintmarks fascinated me. Barber dimes of the years 1906-09 were struck at four Mints: Philadelphia (no mintmark), Denver, New Orleans, and San Francisco. B&M is offering a 1906-D that is PCGS graded MS-66, and Stack’s will auction a 1908-O that is PCGS graded MS-63.

The design tends to hold up well on Barber coins in the AG-03 to Fine-12 range. A complete date-set of Barber Halves is easy. Plus, it does not require wealth to assemble an almost complete set of Barber dimes and quarters (1892-1916).

It may require a little wealth to buy the 1898-S dime in the Stack’s sale. It is one of just four that the PCGS has certified as MS-66, which may amount to fewer than four different coins. Just one 1898-S dime has been PCGS graded MS-67. This PCGS graded MS-66 dime is valued at $12,500 in the PCGS price guide.

For someone who wishes to get started without spending a large sum on one coin, Stack’s is offering a group of certified MS-63 dimes in one lot. One Liberty Seated Dime, an 1891, accompanies four Barbers, 1892, 1893, 1906 and 1914.

Perhaps the featured selection in B&M’s run of Barber Dimes is an 1893-O dime that is PCGS graded MS-66 and has a CAC sticker. Importantly, B&M, in this one sale, is offering the following other dates in MS-66 grade, all PCGS certified: 1892, 1898, 1902-S, 1906-D, and 1911-S. This 1902-S dime has a CAC sticker, and may be one of the five finest known of this date. Additionally, B&M’s run contains several high-grade NGC certified Barber Dimes.

B&M will also be selling several gem quality Proof Barber Dimes. Likewise, this B&M sale has nine Proof Barber Quarters that range in grade from -65 to -68. Some have ‘Cameo’ designations and five have CAC stickers!

The most curious part of the B&M selection of Barber Quarters is the three 1901-S Quarters. This is the scarcest date in the series and is possibly the most valuable 20th century silver coin issue. Even so, there exist more than twenty uncirculated 1901-S quarters and it is not unusual for an auction to include one that grades VF-20 or higher. In this sale, one 1901-S Quarter is PCGS graded Good-04. Another is PCGS graded AG-03, and a third is NGC graded AG-03. In the Stack’s auction, there is a higher grade ‘01-S. It is PCGS graded Good-06!

It is important for collectors to buy 1901-S quarters that are certified, as a large percentage of uncertified 1901-S quarters are not genuine. Some have an ‘S’ mintmark added to a 1901 Philadelphia Quarter, and others are die-struck forgeries. In many instances, experts are fooled by fakes.

After the 1901-S, the second scarcest Barber Quarter is the 1913-S. Stack’s is offering two, one of which is PCGS graded Good-06. The catalogue images suggest that it is a decent piece. It will be more affordable to some than the 1913-S in the B&M sale that is PCGS graded MS-65. In March 2008, an NGC graded MS-65 1913-S realized $28,750 in a Heritage auction.

Additionally, the B&M sale has several colorfully toned Washington Quarters with very high certified grades. Stack’s is offering key-date 1932-D and ‘32-S quarters and a 1941 that is PCGS graded MS-67.

Of course, there is not space here to mention or even to allude to most of the coins in these auctions. The offerings of bust half dimes, dimes, and quarters, are significant. Indeed, both the B&M and Stack’s auctions feature some scarce and appealing Draped Bust, Heraldic Eagle dimes.

A Proof 1846 Liberty Seated quarter in the B&M sale caught my attention, as did an NGC graded MS-64 1857-S, which is a very rare date. The 1859-S quarter is rarer overall, and much rarer than the ‘57-S in high grades. Stack’s will auction an 1859-S that is PCGS graded AU-50. Logically, it is a far more important coin than most collectors realize. Astute collectors can find many rare and interesting items in major coin auctions.

Please see part 2 tomorrow for a discussion of half dollars in the pre-ANA auctions.