Coin Collectors News

“Dollar Day” Session of Legend’s 26th Regency Auction a Record Breaker!

May 17, 2018 | Auctions, News

In its first ever two-day auction, Legend Rare Coin Auctions’ Regency Auction 26 began with an explosive start. The first day’s offering, focused solely on silver dollars, anchored by the P.F.M. Collection of Morgan Dollars, selections from the world-famous Aurora Borealis Collection of Toned Morgan Dollars, and the Crow River Collection of Peace Dollars. In all, the 237-lot auction session saw record-breaking participation from numismatic enthusiasts from all over the world. There are many highlights, the highest grossing lot in the session was the 1892-S dollar in MS65 PCGS from the P.F.M. Collection, the current # 6 PCGS Registry Set, realizing $193,875.

“We told you so!” exclaimed Laura Sperber, founder of Legend Rare Coin Auctions. “Last night’s sale enjoyed record phone, internet and live bidding in the room. In many cases, there were multiple bidders battling it out to bring home the numismatic prize they desired! The stats don’t just speak for themselves, they scream!”

Lot 8 – $1 1865 PCGS PR64+ CAC $17,037.50
This coin had 14 different bidders, 40 people following it and 1,000 unique page views!

Lot 29 – $1 1880-CC PCGS MS67 CAC $29,375.00
26 people bid, 27 people followed it and there was 435 page views!

Lot 89 – $1 1891-O PCGS MS65 DMPL CAC $58,750.00
15 bidders, 15 people watching, and it had 428 page views!

Lot 171 – $1 1880-S MS65+ CAC $10,281.25
A TONER! It enjoyed 28 bidders and you would be shocked at how many people followed and looked!

Lot 207 – $1 1921 Peace PCGS MS66 CAC $18,212.00
HISTORY WAS MADE HERE! 32 different bidders! A record 55 people followed it and 575 people viewed it online.

Lot 232 – $1 1925 PCGS MS67+ CAC $32,900.00
This is unbelievable! A world record for sure! 31 bidders, 26 watching and almost 400 people checked it out online!

Below are just a few of the other highlights of the first ever “Dollar Day”:

Lot 44 $1 1882 PCGS MS67 CAC realized $28,200
Lot 77 $1 1889-CC PCGS MS63 realized $42,300
Lot 78 $1 1889-O PCGS MS66+ realized $43,475
Lot 116 $1 1899-O Micro O. PCGS MS64+ CAC realized $32,900
Lot 222 $1 1927-D PCGS MS66 CAC realized $41,125
Lot 229 $1 1934-S PCGS MS66 CAC realized $32,900

These are just a few of the many record prices, record followed, and record viewed coins, proving yet again, that Legend’s boutique style auction, held in conjunction with the PCGS Members’ Shows get the best possible prices for consignors! Consignments are still being accepted until June 1 for the Regency Auction 27, being held on July 26 at Caesars in Las Vegas. For more information go to www.legendauctions.com.

Rittenhouse 1792 Half Disme, 1861-P Paquet $20 at 2018 World’s Fair of Money

May 17, 2018 | ANA, Announcements, Shows & Conventions

ANA Governor Brian Hendelson will provide historic
multi-million dollar Philadelphia Mint coins and early United States Mint appointment documents for ANA Museum Showcase exhibit

The finest known 1792 Half Disme, formerly owned by the first United States Mint Director David Rittenhouse, and the finer of the two known 1861 Philadelphia Mint Paquet Reverse Liberty Head Double Eagles, will be featured exhibits in the Museum Showcase at the American Numismatic Association’s 2018 Philadelphia World’s Fair of Money® (www.WorldsFairofMoney.com).

The two historic coins, along with George Washington and/or Thomas Jefferson-signed papers appointing Rittenhouse, Elias Boudinot and Robert Patterson as the first, third and fourth Mint Directors respectively, are being loaned for the exhibit from the personal collection of ANA Governor Brian Hendelson, President of Classic Coin Company of Bridgewater, New Jersey (www.ClassicCoinCo.com).

The two coins will be insured for a combined $10.5 million for their “homecoming” display, August 14-18.

“Because this year’s ANA World’s Fair of Money is being held in Philadelphia, I thought this would be an excellent opportunity for collectors and the general public to see in person these two important rare coins that were made in Philadelphia,” said Hendelson.

“The Half Disme was the first denomination produced by the young United States for circulation, and this particular superbly struck and preserved coin could be the first one made. It was exhibited at Mount Vernon, Washington’s home, in 2014 and 2015. I’m happy to share it and the Paquet Reverse Double Eagle at the 2018 ANA convention for everyone to enjoy and to learn about the hobby and history,” explained Hendelson.

The finest known 1792 Half Disme, graded PCGS MS-68, returns “home” for display at the ANA 2018 Philadelphia World’s Fair of Money, August 14-18, courtesy of ANA Governor Brian Henelson.
(Photo credit: Professional Coin Grading Service)

The rainbow toned 1792 Half Disme (LM-1, Judd-7, Pollock-7) is graded PCGS MS-68 and the 1861 Paquet Reverse Double Eagle is graded PCGS MS-67.

In the narrative text for the upcoming exhibit, ANA Money Museum Curator Doug Mudd wrote: “On July 13, 1792, the first U.S. Mint coins were struck for distribution at the request of President George Washington in a basement close to the site for the new Mint. Legend has it they were struck from Martha Washington’s silverware, but recent research has shown that Thomas Jefferson provided the $75 of silver required to make 1500 Half Dismes. The coins were distributed by Jefferson to foreign dignitaries, members of the government and others — a calling card for the establishment of the U.S. Mint and an announcement of the new American Republic.”

The coin remained carefully preserved by Rittenhouse and then his descendants from 1792 to 1919. Subsequent owners have included the Knoxville Collection, California coin dealer Steven L. Contursi, and the Cardinal Collection.

The Paquet Reverse Double Eagle is described in the upcoming exhibit as “A Coin Worthy of a King” as one of its previous owners was an Egyptian king.

The finer of the two known 1861-P Paquet Reverse Liberty Head Double Eagles, graded PCGS MS-67 and from the Brian Hendelson Collection, will be among the Museum Showcase highlights at the ANA 2018 Philadelphia World’s Fair of Money, August 14-18.
(Photo credit: Professional Coin Grading Service)

In 1861 nearly three million $20 denomination gold coins were struck at the Philadelphia Mint, but today only two are known with a slightly modified design on the reverse made by Assistant Mint Engraver Anthony Paquet. He made the letters taller and slenderer in appearance compared to the previous design.

Mint Director James Ross Snowden was unhappy with the revision and subsequently recalled the new dies and ordered the melting of all 1861 double eagles struck at the Philadelphia Mint. The entire Philadelphia run was destroyed except for the two known remaining examples.

Among the well-known previous owners of the coin now in Hendelson’s collection were Baltimore banker Waldo Newcomer, Chicago beer baron Virgil M. Brand, eccentric Texas and Massachusetts business executive and investor Col. E.H.R. Green, Egypt’s King Farouk and Ambassador and Mrs. R. Henry Norweb of Ohio.

The Museum Showcase display at the ANA 2018 Philadelphia World’s Fair of Money will be the first time the Rittenhouse, Boudinot and Patterson appointment documents have ever been exhibited together.

Rittenhouse served as the first Mint Director from April 1792 to June 1795 and his appointment paper is signed by both Washington as President and Jefferson as Secretary of State. Boudinot was the third Mint Director from October 1795 to July 1805, and that document is signed by Washington and Secretary of State Timothy Pickering. Patterson’s appointment as the fourth Mint Director from January 1806 to July 1824 is signed by Jefferson as President and Secretary of State James Madison.

: The April 14, 1792 document signed by President George Washington and Secretary of State Thomas Jefferson appointing David Rittenhouse as the first Director of the United States Mint. (Photo courtesy of Brian Hendelson)

: The October 28, 1795 document signed by President George Washington and Secretary of State Timothy Pickering appointing Elias Boudinot as the third Director of the United (States Mint. Photo courtesy of Brian Hendelson)

: The January 17, 1806 signed by President Thomas Jefferson and Secretary of State James Madison appointing Robert Patterson as the fourth Director of the United States Mint. (Photo courtesy of Brian Hendelson)

A fourth presidential appointment document in the exhibit, for Joseph Richardson as Assayer in 1795, is signed by Washington and Pickering.

The ANA 2018 Philadelphia World’s Fair of Money will be held in the Pennsylvania Convention Center, 1101 Arch St. in Philadelphia, Tuesday-Saturday, August 14-18. For additional information, visit www.WorldsFairOfMoney.com

PCGS Detects Deceptively Altered Colonial Rarity

May 9, 2018 | News

A drastically but deceptively altered 1792 Washington Eagle “cent” submitted to Professional Coin Grading Service (www.PCGS.com) underscores the alarming skills of some so-called “coin doctors” and why it is essential to have rare coins expertly and independently examined.

The Washington Eagle “cent” as it appeared prior to its recent submission to PCGS.
(Photo credit: Professional Coin Grading Service)

Detective work by PCGS experts proved the recently submitted early American coin had been deceivingly repaired since it was offered in auctions between 1966 to 2013 to remove a hole, alter re-engraving and change the coin’s color to give it a radically new appearance. PCGS Co-Founder David Hall described it as “one of the most deceptive and clever alterations I’ve ever seen. The quality of the work was so good, it’s scary!”

The elusive 1792 Washington Eagle cent with a 13 star-reverse and lettered edge (Baker 21) was from the Ted Craige collection and sold at auction by Stack’s Bowers first in January 2013 where it brought $3,055 and then again in August 2013 when it realized $9,988.

The Washington Eagle “cent” as it appeared when it was recently submitted to PCGS.
(Photo credit: Professional Coin Grading Service)

“There was considerable excitement at PCGS when we received what appeared to be a new, previously unknown example of this significant Colonial rarity,” said PCGS President Don Willis.

“While the planchet was rather dark, the coin appeared to be undamaged and certainly worthy of a grade. It was only after some serious detective work that things began to look a bit strange. Some telltale marks began to match up, and despite looking superficially nothing like the holed piece, PCGS was able to conclude that the recently received coin was, indeed, none other than the Ted Craige specimen,” Willis revealed.

The coin traces its pedigree back to Mayflower’s Stern’s Sale in December 1966.

“At its last public auctions, it was a pleasing light brown specimen with Fine sharpness but was unfortunately holed at 12 o’clock on the obverse. There had also been a crude attempt to re-engrave the stripes on the shield on the reverse. Only about half a dozen examples are presently known, with at least half of these damaged in some way,” explained PCGS Content Editor Mike Sherman who wrote about the discovery of the deceptive alternations.

“The quality of the alteration was nothing short of phenomenal. Not only had the surfaces been darkened to a very natural-appearing (though not particularly attractive) color, but also the re-engraving on the shield was gone and the hole had disappeared without a trace. Missing detail from where the hole had once been was flawlessly reconstructed. Even the stars at the top of the reverse seemed to once again be visible,” said Sherman.

“While PCGS is justifiably pleased with the sleuthing effort from the grading room, this coin serves as a powerful reminder that one cannot ever let down their guard and that some truly talented ‘doctors’ are out there and capable of some very deceptive work. Obviously, expert authentication of rarities is a must for all serious coin buyers,” stated Willis.

Since its founding in 1986, PCGS experts have certified over 38 million coins with a total market value of over $33 billion. For information about PCGS products and services, including how to submit your coins for authentication and grading, visit www.PCGS.com or call PCGS Customer Service at (800) 447-8848.

PNG Day 2018 Plans Announced

May 9, 2018 | Announcements, PNG

(Temecula, California) May 9, 2018 — The Professional Numismatists Guild (www.PNGdealers.org) will conduct a one-day public show, Monday, August 13, 2018, in Philadelphia. The first 50 public attendees at the PNG Day show will each receive a certificate good that day for $100 off any retail purchase of $500 or more from a participating PNG member-dealer.

Representatives of Numismatic Guaranty Corporation (www.NGCcoin.com), the official rare coin authentication and grading service of PNG and the American Numismatic Association, and representatives of Professional Coin Grading Service (www.PCGS.com) will be on-site to accept submissions during the show.

The show will be open to the public from 11 am to 5 pm.

“Our 2018 PNG Day show will be held in Hall D of the Pennsylvania Convention Center, 1101 Arch St., in Philadelphia, the same location as the ANA 2018 World’s Fair of Money, August 14-18,” explained PNG Executive Director Robert Brueggeman. “Come to Philadelphia for PNG Day and stay for the World’s Fair of Money.”

Lot viewing for the Heritage Auctions and Stack’s Bowers Galleries auctions also will be conveniently conducted in the convention center.

“The relaxing environment of a PNG Day show allows time for casual and enjoyable browsing, buying and selling. Any PNG or ANA member dealer can obtain a table, whether or not they have a table at the World’s Fair of Money that week,” said PNG President Barry Stuppler.

“PNG is the world’s largest organization of professional numismatists. PNG Day is a convenient time for collectors to find a great U.S. and worldwide assortment of gold, silver and other coins from ancient to modern, as well as bank notes, tokens and medals offered by dealers at this show,” added Stuppler.

Public admission to PNG Day is $5 at the door, but visitors can get free admission by registering in advance. Click on the pre-registration link at www.pngdealers.org/png-events.

For more information about the 2018 PNG Day show, or to obtain a dealer’s table, contact the Professional Numismatists Guild at 951-587-8300 or info@pngdealers.org.

United States Mint Annual Set of Uncirculated Coins Goes on Sale May 14

May 7, 2018 | Announcements, U.S. Mint

WASHINGTON –Sales will open for the 2018 United States Mint Uncirculated Coin Set® (product code 18RJ) on May 14 at noon Eastern Time (ET).

This set contains two folders with 10 coins each—one with coins from the United States Mint at Philadelphia and the other with coins from the United States Mint at Denver. Each folder includes these 2018-dated coins with uncirculated finishes:

Five quarters from the America the Beautiful Quarters® Program honoring Pictured Rocks National Lakeshore (Michigan), Apostle Islands National Lakeshore (Wisconsin), Voyageurs National Park (Minnesota), Cumberland Island National Seashore (Georgia), and Block Island National Wildlife Refuge (Rhode Island).
One Native American $1 Coin with a theme that commemorates the sports and cultural contributions of Jim Thorpe to the development and history of the United States. The reverse design depicts Jim Thorpe, with the foreground elements highlighting his football and Olympic achievements. Inscriptions are “JIM THORPE,” “WA-THO-HUK” (his native name), “UNITED STATES OF AMERICA,” and “$1.”
One Kennedy half dollar
One Roosevelt dime
One Jefferson nickel
One Lincoln penny

The United States Mint strikes its uncirculated coins on special presses that use greater force than those used to produce circulating coins. This technique results in a sharp, intricately detailed image. A blister secures the coins in a folder.

The Mint accepts orders at catalog.usmint.gov/ and 1-800-USA-MINT (872-6468). Hearing- and speech-impaired customers with TTY equipment may order at 1-888-321-MINT. Visit catalog.usmint.gov/customer-service/shipping.html for information about shipping options.

The United States Mint Uncirculated Coin Set is also available for purchase through the Mint’s Product Enrollment Program. Visit catalog.usmint.gov/customer-service/faqs/ for information about this convenient order option.