Bureau of Engraving and Printing – The Monthly Production Report for July 2018 Has Been Posted
The Monthly Production Report for July 2018 Has Been Posted.
ANA Submissions of 2018-S Proof Silver Eagles
NGC will offer three special designations — First Day of Issue, First Day – ANA, and Philadelphia ANA Releases — for qualifying 2018-S Proof Silver Eagles submitted to NGC at the American Numismatic Association (ANA) World’s Fair of Money, August 14–18.
NGC, the official grading service of the ANA since 1995, will also offer an exclusive ANA certification label for qualifying coins. The label features the ANA logo and its Lamp of Knowledge member logo.
The NGC ANA label is available for coins that are purchased from the US Mint at the ANA show and submitted with the original US Mint purchase receipt.
Once Obscure, American Civil War Tokens Now Take the Spotlight
by Dennis Tucker, publisher, Whitman Publishing
George J. Fuld in 1966, at that time already well known as a Civil War token expert.
At the time, these tokens were mentioned—but just barely—in the Guide Book of United States Coins, Whitman Publishing’s retail price catalog and numismatic history book. First published in 1946, the Guide Book quickly became the most popular annual reference in the hobby, and its contents carried great weight. Inclusion in the so-called “Red Book” meant a die variety or a series was part of the established numismatic world. Civil War tokens made the grade, but without much fanfare, being tucked into a few sentences on page 250 (of 256).
“During the Civil War small coin was . . . hoarded by the public and millions of privately coined tokens were placed in circulation,” the Red Book informed its readers. “These are . . . either of political or advertising nature. Some 15,000 different varieties have been discovered, all of which are more or less common. A large majority of the Civil War tokens are about the same size as the present day one-cent piece.”
That was the extent of the overview in the earliest editions of the Red Book.
By the 1960s, with a new boom of interest in all things numismatic, that coverage would be expanded with more narrative and a type-table list of values by metallic composition.
In the meantime, in the 1950s, when Q. David Bowers was just getting started as a numismatic force of nature, the hobby’s literature on Civil War tokens was still thinner than Abraham Lincoln, and nowhere near as tall—though just as fascinating. Bowers recalls how his education in the field came from a single volume published more than 30 years earlier (Civil War Tokens and Tradesmen’s Cards, by George Hetrich and Julius Guttag, 1924), plus the occasional article in The Numismatist and other periodicals, auction-lot descriptions, and, importantly, the personal guidance of hobby mentors.
Q. David Bowers, George J. Fuld, and Andrew Bowers, 2005.
Fred Reinfeld’s 93-page The Story of Civil War Money (Sterling Publishing Co., 1959), although not comprehensive, piqued further interest among history buffs. Civil War numismatic historian Fred L. Reed would later credit Reinfeld’s book for capturing his imagination. (Beyond numismatics, Reinfeld was a brilliant chess player who introduced generations of players to the game through his beginner-level instruction books.)
Research into Civil War tokens continued, along with the study of encased postage stamps, Confederate currency, and other aspects of wartime money. Numismatists published articles in Numismatic News, Coin World, and other popular periodicals. Over the years the standard references by the Fulds were updated and revised in various new editions.
Bowers wrote his first book, Coins and Collectors, in 1964. It would be the first of many dozens—most of them best-sellers and standard references.
The Civil War Token Society was chartered in 1967. With it, researchers such as Fred L. Reed gained a new “headquarters” for their work in the field, in particular in the publication of the society’s Journal. Bowers continued to be a major contributor to research and writing, for the Society and in other venues, while building a huge personal collection of Civil War tokens and buying and selling for his coin-dealership retail customers.
A Dynamic New Publishing Era for Civil War Tokens
Fred L. Reed with his first book on Abraham Lincoln in numismatics, Abraham Lincoln: The Image of His Greatness, at the 2010 ANA World’s Fair of Money.
We worked quickly to expand this coverage. By 2006, with the 60th edition (cover date of 2007), we had three pages including nearly a full page of history, some three dozen color photographs, and pricing for types (by metal), plus a sampling of patriotic and store card tokens (the latter priced by state, plus a dozen representative varieties) in four grades from Very Good to Mint State.
In October 2007 we published 100 Greatest American Medals and Tokens (by Bowers and Katherine Jaeger), a book that featured Civil War tokens prominently. And in June 2008 we published the Guide Book of United States Tokens and Medals, by Jaeger, which included an entire chapter on Civil War tokens.
It was in the fall and winter of 2008 that we first started seriously discussing a full-length book devoted entirely to Civil War tokens. We knew this would be a massive undertaking, but we were inspired by exciting developments within the Civil War Token Society.
“I talked with Steve Tanenbaum this afternoon,” I emailed to Bowers on December 17, 2008. “He’s one of a 10-person committee, part of the Civil War Token Society, that’s spearheading an encyclopedia of Civil War tokens—an update/combination/expansion of information previously only found in Fuld’s 1970 guide, the 1975 CWTS update, and Kanzinger’s 2001 price guide. They seem to have a very solid and serious committee, headed by a strong organizer (John Ostendorf), everyone is committed to getting it right, they meet regularly online to work and plan, and their academic and genealogical research is diligent.”
Dave saw a Whitman book on Civil War tokens as “a magnificent idea” and he would later recall how he “jumped at the chance” to be its author.
Earnest work on the Whitman book would not begin until June of 2012—but once it began, it barreled ahead in full Bowers style, with the Sage of Wolfeboro pulling together his impressive personal archives, marshalling assistance from across the hobby community, and writing, writing, writing. He delivered the fully written manuscript, with thousands of photographs, before the end of that October—a herculean accomplishment in four months. After editing, layout, and printing, the book debuted at the American Numismatic Association World’s Fair of Money in August 2013. It was an immediate hit.
A Modern-Day Classic in American Numismatics
The praise earned by the Guide Book of Civil War Tokens is well deserved. In the foreword to the first edition, Fred Reed said, “Not only is Bowers’s coverage of this series broader than heretofore undertaken by any other author, it is also deeper in both its historical and economic references.” The venerable Dr. George J. Fuld, too, weighed in, nearly 70 years after he first learned of Civil War tokens: “No book on how to collect Civil War tokens has ever been as thorough. I expect that it will be a standard reference for years to come.”
The first print run of the first edition sold out within four months and was followed by additional printings. We released an expanded and updated second edition in December 2014. Now, in 2018, the book has again been updated and improved, in a third edition that will be available in October.
The words of Susan Trask, longtime treasurer (and current president) of the Civil War Token Society, writing in the foreword of the second edition, still ring true: “Whether you are new to the hobby, a seasoned collector, or someone just looking for a comprehensive reference on Civil War tokens, this book deserves a prominent place on your library shelf.”
Our hope is that it will inspire another generation of collectors and researchers.
The updated and revised third edition of the Guide Book of Civil War Tokens will debut in October 2018.
ICTA Celebrates 35 Years of Business
The Industry Council for Tangible Assets (ICTA) is incredibly proud to have turned 35 in July—but we’re even more proud of how we achieved it. ICTA is governed by a volunteer Board of Directors elected by the membership. The list of the association’s past chairmen reads like a “Who’s Who” of the rare-coin / precious-metals industry: the first chair was Luis Vigdor, followed by ICTA leaders Jesse Cornish and Joseph Povey (co-chairs), Jesse Cornish, Henry Beckler, Bruce L. Kaplan, Stan Medlar and John Norris (co-chairs), John Norris, Mike Clark, Tom Noe, Don Doyle, Terry Hanlon, Mal Varner, Paul Montgomery, Todd Imhof, Steve Ivy, Fred Weinberg, Gary Adkins, Bob Greenstein, Harry Miller, Philip Diehl, and currently John Fisher.
ICTA was created in response to federal legislation, passed in 1981, that removed tangible assets from individual retirement accounts (IRAs). Prior to 1981, investor portfolios could include many tangible assets—artwork, valuable rugs, antiques, rare coins, and precious metals. The federal legislation banning tangibles in investment/retirement accounts sneaked by the rare-coin and precious-metals community, which had no advocacy organization in Washington, D.C. Jim Blanchard and others organized several meetings in New Orleans and Washington to create an industry-advocacy organization. ICTA was incorporated as a 501(c)(6) organization in July 1983, and in 1985 ICTA’s staff and Board of Directors began the work of restoring precious metals and coins as qualified investment products. Bullion products were successfully restored in 1997, and efforts to restore rare coins is ongoing.
For the past 35 years, ICTA has been the voice of rare-coin and precious-metals dealers in Washington and has served and continues to serve on many fronts as an advocate for dealers on the state and local levels. The scope of the association’s activities has increased dramatically since its formation. The following are just a few highlights of ICTA’s accomplishments over the past 35 years:
- Successfully lobbied for American Eagles’ eligibility as IRA investments.
- Initiated state sales-tax exemption efforts.
- Negotiated with IRS to create reasonable broker-reporting regulations.
- Created Broker Reporting and Cash Reporting Information Kits—the first such compilations of compliance information and guidance for coin dealers.
- Invited by the FTC to be one of the very few national participants in the FTC conference to modify the Telemarketing Sales Rule. ICTA successfully negotiated reasonable regulations for the coin industry and established a positive relationship with the FTC.
- Achieved restoration of most bullion products as qualified for inclusion in IRAs and other self-directed retirement plans as part of the Taxpayer Relief Act of 1997.
- Achieved a 15-day safe harbor from California sales-tax nexus for out-of-state dealers attending shows in that state.
- Immediately following 9/11, contacted the FAA regarding the airlines’ carry-on bag limits to ensure dealers are permitted to carry their inventory on board; and continues to work with the TSA and DHS (Department of Homeland Security) on all issues related to dealers’ air-travel security.
- Invited by the U.S. Treasury to provide input on post-9/11 anti-terrorism regulations. These discussions resulted in less-onerous regulations for coin and precious-metals dealers in Section 352 of the oUSA PATRIOT Act.
- Negotiated a significantly reduced fee agreement with an anti–money laundering (AML) / cash-reporting expert to provide customized AML plans for ICTA dealers as required by Section 352.
- Co-sponsored (along with Whitman Expos and the ANA) a new law in Maryland that allows dealers to attend three shows, plus the ANA, in that state within a 365-day time frame without being required to obtain a Maryland trader’s license.
- Helped defeat the Farm Bill’s Harkin amendment, which would have created precious metals cash-market regulation by the CFTC.
- Assisted and succeeded in passing sales-tax exemption legislation, resulting in 32 states with exemptions and 5 states that have no sales tax for a total of 37 states.
- Defeated numerous legislative attempts to repeal states’ sales-tax exemptions.
- Launched LexisNexis® StateNet®, which monitors legislative and regulatory issues in all 50 states and Congress.
- Established the State Affairs Committee, in which volunteer monitors now watch and report on legislative and regulatory bills in their states.
- Sent out numerous press releases that have appeared in all of the trade magazines in the last five years, increasing our membership as a result.
- In the past five years, assisted Nebraska, Indiana, Virginia, Ohio, Minnesota, North Carolina, and Alabama in passing sales-tax exemptions, expanded exemptions in Oklahoma and Virginia, and reinstated the exemption in Louisiana.
- Defeated legislation to repeal the sales-tax exemptions in Pennsylvania and Maryland.
- Collaborated with the Minnesota Department of Commerce for two years on amending the erroneous coin-and-bullion-dealer law. When passed, it was more favorable to the dealers and collectors.
- Participated in amending the California Collectibles sale of autographed memorabilia legislation.
- Assisted in defeating secondhand-holding laws in numerous states.
- Creating and implemented a long-range and strategic plan.
- Updated ICTA’s 33-year-old bylaws and moved incorporation from the District of Columbia to Delaware.
- Presented seminars on the ICTA/ACTF update at all the major shows and coin clubs around the country.
- Assisted in the passage of HR 2754, the Collectible Coin Protection Act, in the U.S. House and Senate.
- Appointed legislative consultant Jimmy Hayes to monitor legislation that impacts our members, namely the substitute bill for the Marketplace Fairness Act and legislation introduced to curtail Operation Choke Point.
- Launched the Anti-Counterfeiting Task Force (ACTF) to mobilize law-enforcement resources to protect the integrity of U.S. and world coinage by educating officials on the economic impact and growing threat of counterfeit circulating, collectible, and bullion coins. In 18 months, ACTF has become the primary industry liaison with law enforcement and other government agencies and has provided education, expertise, and other resources to law enforcement to curtail the manufacture and distribution of counterfeit coins in the United States. ACTF’s Expert Network has assisted in the investigation of more than two dozen cases involving counterfeiting. The task force is also leading the way in educating dealers, collectors, and the public about how counterfeiting is impacting the numismatic industry.
- Launched the Anti-Counterfeiting Educational Foundation 501(c)(3) to support ACTF in the educational aspects of its work.
- Responded to the South Dakota v. Wayfair Supreme Court decision, which could cripple small businesses in every state. The Court’s decision is that states can now require online retailers to collect sales-tax revenue from consumers beyond their borders.
Considering ICTA’s limited financial means over the years, the progress the association has made is simply amazing. That couldn’t be truer for ICTA today. Historically, the association’s mantra has always been to do more with less. ICTA members are always going the extra mile to take on the monumental challenges faced by every dealer and collector. Terry Hanon (Dillon Gage) recently said, “ICTA has never been in better shape than it is today. ICTA has always had to struggle financially because less than a quarter of the coin and bullion dealers are members. Every dealer and collector that reaps the benefits of all the legislative and regulatory actions in the country and now the anti-counterfeiting efforts should be a member and financially support the association.”
There have been many estimates over the years on how many coin businesses there are in the United States. A reasonable estimate is around 5,000. ICTA’s total membership is less than 600, which includes dealers, collectors, and clubs. More than half of the dealer-members are members at the Basic ($300) level. To maintain our current efforts in passing sales-tax exemption legislation, defeating the repeal of existing sales-tax exemptions, heading off other onerous legislation, and working with regulatory government agencies in all 50 states and Congress—not to mention efforts like the most recent development with South Dakota v. Wayfair and the significant work of the ACTF—we are asking existing members to increase their current membership level, and we are seeking new members.
Increasing our membership is an effective means of maintaining and expanding our efforts. ICTA’s current members are carrying the load, not only financially, but with many hours of volunteer work on the association’s behalf. Without financial help, ICTA does not have funds to maintain the human resources it takes to sustain the success it has generated over the last 35 years. The need is great for the dealer and collector communities, and for everyone affected by legislative regulations and counterfeits in the marketplace, to pitch in.
About ICTA
ICTA is a 501(c)(6) tax-exempt association that represents the coin, currency, and precious metals industries. ICTA is supported solely by dues and donations. To join and/or learn more about ICTA, please visit our website—ictaonline.org.
ANA Presents Literary Awards to Exceptional Writers
2018 Adult Numismatist Literary Award Winners
The American Numismatic Association’s 2018 literary awards – recognizing articles published in the 2017 volume of its official magazine, The Numismatist – will be presented on August 16 at the ANA World’s Fair of Money in Philadelphia. The Numismatist was launched by ANA founder and first editor Dr. George F. Heath in 1888, and this year marks its 131st volume.
The Heath Literary Award acknowledges outstanding articles published in the preceding 12 months.
First place goes to Pete Smith, Joel J. Orosz and Leonard Augsburger for “A More Accurate History of the 1792 Half Disme” (August 2017), in which they described Thomas Jefferson’s connection with the coin’s production. The authors will receive $250 and engraved nickel-silver medals designed in 2013 by artist and ANA member Jamie Franki.
Roger Burdette earned second place ($100 and an engraved bronze medal) for his feature article, “Rescued Rarities” (June 2017), in which he explained how valuable items were recovered and preserved for posterity following the U.S. government recall of gold coinage in the early 1930s.
Allan Schein received third place (an engraved bronze medal) for “The Identity of Pratt’s Indian” (November 2017), which postulated that a prominent Brulé Sioux chief was the model for the obverse of Bela Lyon Pratt’s early-20th-century gold coins.
The Wayte and Olga Raymond Memorial Literary Award, endowed in 1978 by the late John J. Ford Jr., is presented for articles that display original and comprehensive research in U.S. numismatics.
The August 2017 study by Smith, Orosz and Augsburger received first place ($400), and Burdette’s June 2017 work earned second place ($200). David McCarthy garnered third place for “Nova Constellatio: Identifying the First American Coin” (August 2017), in which he demonstrated how die states and historical documents helped identify a prototypical U.S. issue.
Funded by an anonymous donor, the Catherine Sheehan Literary Award for U.S. Paper Money Studies includes $50 for first place.
David Schenkman took the top prize for “Numismatic Mementos of the Glass Industry” (March 2017), in which he spotlighted firms that manufactured and distributed paper scrip or tokens in the 19th and 20th centuries.
Second place (certificate) goes to Ray Williams for “An Evening with Uncle Ray” (September 2017), in which he shared the history and stories behind Early American notes in his collection.
Introduced this year, the Prue and Arthur Fitts Literary Award for Ancient and Medieval Coinage Studies recognizes literary excellence in those fields.
First place ($250) was presented to John Nebel for “Head-to-Head” (August 2017), which illustrated how politics played a big part in ancient numismatics.
Michael Shutterly received second place (certificate) for “In the Beginning” (December 2017), in which he traced the spread of metallic coins throughout the Mediterranean around 650 B.C.
All feature articles published in The Numismatist automatically are considered for the Heath Literary Award; likewise, all qualifying articles are evaluated for the Raymond, Sheehan and Fitts awards. For information about submitting manuscripts for review and possible publication, email Editor-in-Chief Barbara Gregory at gregory@money.org.
2018 Young Numismatist Literary Award Winners
The ANA also presents annual awards to encourage young writers and ensure a corps of future numismatic authors and researchers. The Young Numismatist Literary Award categories are named in honor of Whitman authors dedicated to educating the next generation of numismatists. YN Literary Awards were announced at the ANA’s Summer Seminar in June.
First place in each category received a $500 cash prize, plus a $500 voucher to help build a personal library of numismatic books produced by Whitman Publishing. Second place received a $200 book voucher and third place received a $100 book voucher. The prizes were provided by Whitman Publishing.
The Bill Fivaz Young Numismatist Literary Award recognizes numismatist writers for ages 8 to 12. First place this year was Caleb Audette for “Confederate Obsolete Banknotes.” Second place was Matthew Daum with “The Buffalo Nickel” and the third place recipient was Nikhil Rath with “American Dollar Coins: 1969, 1976 and 2026.”
The Q. David Bowers Young Numismatist Literary Award honors numismatist writers that are aged 13 to 17. This year’s first place recipient was Paige Price for “Disney Dollars.” Benjamin Mous placed second with “Five Reforms, Eight Years: The Coinage of China’s Emperor Wang,” and Alexander Mous took third with his paper on “The Revival of Local Currency in Japan.”
The Kenneth E. Bressett Young Numismatist Literary Award is given to writers between the ages of 18 and 22. This year, first place was won by Cole Hendrickson for “Frontier Forts: Sutlers and Their Tokens.” In second place was Jared Lake for his work “Artificial vs. Natural Toning in Silver Coins.” Third place was received by Matt Draiss for “Resorts and Melting Pots: The Men & Women Behind the Formation of the Mountains National Bank of Tannersville.”
The American Numismatic Association is a congressionally chartered, nonprofit educational organization dedicated to encouraging the study and collection of coins and related items. The ANA helps its 25,000 members and the public discover and explore the world of money through its vast array of educational and outreach programs as well as its museum, library, publications, and conventions. For more information, call 719-632-2646 or visit www.money.org.
PCGS authenticates first known specimen 1878-S Morgan dollar
(Santa Ana, California) August 6, 2018 — Professional Coin Grading Service (www.PCGS.com) has authenticated and certified the only known specimen strike 1878 San Francisco Mint Morgan dollar. The VAM 58 variety is graded PCGS SP65.
Submitted by an East Coast collector, this specimen 1878-S silver dollar has been authenticated and certified PCGS SP65 and is the earliest known specially-struck branch mint Morgan dollar. (Photo credit: Professional Coin Grading Service www.PCGS.com)
“I knew it was special the moment I laid eyes on it,” said the coin’s owner, an East Coast collector who wants to remain anonymous. He revealed there are preliminary plans under discussion for a future public exhibit of the coin in California.
The collector purchased the coin at an auction in 2006 and recalled that during the lot viewing “it looked like a zebra among horses. Just too well made, it was struck like a Philadelphia Mint proof, and had obviously been handled with kid gloves.”
PCGS President Don Willis stated: “When this coin was submitted to us at the June Long Beach Expo we instantly knew it was something special. After careful analysis, we are pleased to designate it as a Specimen!”
It is the earliest known specially-struck branch mint Morgan dollar.
The unbroken pedigree of this coin dates back to the 1880s when it was the property of Bishop & Co. Bank in Honolulu, Hawaii and then acquired by Samuel Mills Damon of Honolulu, a partner in Bishop’s Bank.
It remained in the Damon estate for more than 120 years until it was offered at auction by Doyle New York in 2006. It was described by the auction house as “1878-S, Morgan Dollar. Brilliant coin, possibly a presentation piece….”
There are clues about how the coin got to Hawaii in the 1880s. One of the dignitaries attending the April 1878 first striking ceremony for Morgan dollars at the San Francisco Mint was a former California Governor, Frederick Low, who was given the second coin struck. He moved to Hawaii in 1882 and became a banker there.
All-time finest CC dollar collection purchased intact
(Woodland Hills, California) August 1, 2018 – The Ponderosa Collection, the PCGS Set Registry® number one finest-of-all-time set of circulation strike Carson City Morgan dollars, 1878-1893, has been acquired intact by Woodland Hills, California dealer Barry Stuppler (www.MintStateGold.com).
The purchase price for the 13-coin set plus a 14th “top Pop” CC dollar was $1.2 million. Stuppler arranged for the acquisition by emails while on vacation more than 5,000 miles from his office.
The anonymous former owner of the Ponderosa set is identified as a Nevada collector whose interest in coins began at the age of six with the assistance of his mother, a coin and stamp collector. He purchased his first Carson City dollar in 2008.
“Barry (Stuppler) floated the idea to consider building a set of Carson City Morgan dollars; 13 coins that I had years of pleasure — and sometimes anxiety — reading about, studying, telling others about and pursuing. It was great fun, and Barry has been a wonderful mentor and now also a great friend,” the collector stated.
Professional Coin Grading Service President Don Willis described the Ponderosa CC dollar set as “the finest ever graded by PCGS and with several finest known coins. The collection is a wonderful example of the historical Carson City Mint.”
These are the grades of the 13 coins in the set:
- 1878-CC PCGS MS66+
- 1879-CC PCGS MS66+, finest known, none graded higher.
- 1880-CC PCGS MS67
- 1881-CC PCGS MS68, tied for finest known.
- 1882-CC PCGS MS67+
- 1883-CC PCGS MS68, tied for finest known.
- 1884-CC PCGS MS67+
- 1885-CC PCGS MS68+, finest known, formerly in the Jack Lee and Coronet collections.
- 1889-CC PCGS MS64PL
- 1890-CC PCGS MS66
- 1891-CC PCGS MS66+
- 1892-CC PCGS MS67+, finest known.
- 1893-CC PCCGS MS65, formerly in the Eliasberg Collection.
The finest known 1879-CC Morgan dollar, graded PCGS MS66+, is one of the highlights of the Ponderosa Collection of Carson City dollars purchased by Barry Stuppler.
Graded PCGS MS67+, this finest known 1892-CC Morgan dollar is part of the Ponderosa Collection of Carson City dollars purchased intact by Barry Stuppler for $1.2 million.
(Photo courtesy of Professional Coin Grading Service www.PCGS.com)
The 14th coin in the purchase is an 1879-CC graded PCGS MS65+PL.
“My favorite Morgan dollar in the set is the 1889-CC (PCGS MS64PL),” said the Ponderosa Collection seller. “I can still remember the day I purchased a PCGS MS-63 example. The price I paid made me aware that I was committed fully to building the finest Carson City set that I could possibly afford. I regret that I was never able to obtain the single MS-65 1899-CC Morgan that is still a part of the California Collection.”
What will happen now to the Ponderosa CC Morgan dollars set?
“As part of our company policy, we are going to give our current clients on the PCGS Carson City Morgan dollar registries the first chance to acquire these coins to improve their collections. Whatever coins may remain will be offered on our website, www.MintStateGold.com,” said Stuppler, President of the Professional Numismatists Guild and a former President of the American Numismatic Association.
The seller plans to divide his proceeds between assisting his family, acquiring more coins and fulfilling a long-time desire to be in the entertainment industry.
“Building the Carson City collection was great fun and an exciting numismatic learning experience. One of my primary goals when I started was to make this collection the all-time finest pedigree collection on the PCGS Set Registry. With the help of Barry, I was able to achieve this goal, and you can’t get much better. So, now I’m looking at other areas of numismatics that I can achieve the same goal.”
He added: “I do have a few other interests that are still hanging around at the bottom of my bucket list. I studied movie production during my college years and beyond. Recently I formed a production company with two fantastic friends in the industry and am looking forward to producing one or more full length theatrical release movies.”
For additional information about the Ponderosa Collection, contact Barry Stuppler at 818-592-2800.
Legend Rare Coin Auctions Shatters Records Yet Again in Las Vegas
Firm’s 27th Regency Auction sees fierce bidding throughout 604 lot auction
(Lincroft, NJ—July 27, 2018)—Legend Rare Coin Auctions presented a powerful auction in conjunction with the July PCGS Members Only Show on Thursday, July 26, 2018. With a crowd of bidders in the room, large numbers of bidders online and on the phone, many records fell. With 604 lots, the Regency Auction 27 was the largest single-day auction in the firm’s history and featured several important named collections but kept its boutique appeal. While the summer used to be considered a slower-paced time of year, as the firm’s president, Julie Abrams, explained this year, the market really seems to have heated up in July:
“Despite the blistering 113 degrees heat outside – or perhaps to some extent because of it – the auction room filled up with so many bidders that auction staff had to scramble to find more chairs before the auction started.
The RanJack Collection.
Like the May Regency Auction, the July Regency Auction was anchored by a world-class collection of Morgan Dollars. The RanJack Collection began the auction with a very strong start. The premium quality of the coins in the collection, a nearly complete set of Morgan dollars, attracted fierce bidding from the moment the sale was posted online nearly at the end of June. As soon as bidding began on Lot 1, an 1878 7 Tail Feather, Reverse of 1878 in PCGS MS66+ CAC, the action was intense! After a bidding war that included no fewer than seven bidders, it ended up realizing a record-shattering price of $43,475, nearly triple the previous record for the issue! This was not the only coin to bring strong to record prices during the RanJack Collection portion of the evening. Please note all prices reported include the 17.5% buyer’s premium.
“Leading off the sale was the RanJack collection of Morgan Dollars, which was extremely well received by enthusiastic bidders. As has become the norm at Legend, the collection proved that a masterfully assembled collection will attract all of the right bidders, especially when presented in a small, focused, high-quality sale. Buyers love not having to sort through thousands of second rate coins, and sellers love to see their collections given a well-deserved spotlight.” said Julie Abrams. “We are just ecstatic with the results of the RanJack Collection! The action started off with a real bang, and the momentum continued through the rest of the RanJack Collection with 95% of the coins selling to COLLECTORS! After the dust settled, the RanJack Collection surpassed our presale hammer expectations by nearly $100,000! Just take a look at these results”:
Lot 10. 1881 PCGS MS66+ CAC realized $4,700
Lot 14. 1882-S PCGS MS68 CAC realized $9,988
Lot 21. 1885 PCGS MS67+ CAC realized $5,875
Lot 29. 1887-S PCGS MS66+ CAC Ex Jack Lee II, realized $44,650
Lot 43. 1893 PCGS MS65+ CAC realized $9,988
Lot 44. 1893-O PCGS MS64 CAC Ex NFL Set, realized $35,250
Lot 56. 1898-O PCGS MS67+ CAC realized $12,338
Lot 68. 1902-S PCGS MS66+ CAC realized $22,325.
Silver dollars from other consignments continued after the RanJack Collection. The real star of was the record shattering realization of lot 95, the superb 1892-O PCGS MS66+ CAC that realized $79,313 after a heated round of bidding. Toned dollars, both Morgan and Peace issues continued to bring strong prices, especially lot 160, a 1927-S in PCGS MS65 CAC from the Liberty Sunrise Collection, brought $12,925.
The Balance of the Sale.
Type coins began at lot 171 with the South Texas Collection. The highest grossing lot in the sale was from this group of 18th century type coins when lot 174 the superb 1794 large cent, Ex. Lord St. Oswald, in PCGS MS66+ BN CAC realized $246,750. Also from that group was the GEM AU58+ 1796 dime that realized $29,375.
“Early U.S. type coins, especially high grade and premium quality coins always bring strong bidding from collectors. There are never enough to satisfy demand,” explained Greg Cohen, the senior numismatist for the firm. “When a small but powerful group comes out into the market, expect there to be strong prices. With every coin in the South Texas Collection PCGS/CAC, they attracted a lot of attention from bidders. It doesn’t hurt that every coin was hand selected by our founder, Laura Sperber, for their inclusion in the set.”
Following the South Texas coins was another select grouping of type coins from the Pharma Collection. Featuring some high end 19th and 20th century types, all hand selected again for this collection by Laura Sperber, the quality was exceptional, and the prices reflect that.
Lot 190. $1 1897 PCGS PR68 CAM CAC realized $58,750
Lot 191. $2.50 1871 PCGS MS65 CAC realized $43,475
Lot 193. $5 1904 PCGS MS67 CAC realized $34,075
The rest of the sale remained extremely strong. The Chester Roche Collection, an estate holding of gold coins put away 20-25 years ago, saw intense bidding, especially for PCGS-graded, CAC-approved specimens, a pattern that continued with the gold coins from other important consignments. Like Regency Auction 26, the sale closed with an extensive offering of patterns from the Stephen Cook Collection, that again saw intense bidding.
“Collectors really came out for the patterns,” Laura Sperber said. “We saw a record number of bidders for patterns come out for this selection, including a bidder who was ‘a blast from the past,’ someone we have not seen in some 20 years! Collectors are finally realizing what a great value they are at today’s levels. Like the dollars, 95% of the lots went right into collections! Who knows if they will ever come out again.”
Further highlights of Regency Auction 27 are:
Lot 218. 1C 1914 PCGS PR67+ RB CAC realized $14,100
Lot 233 3CS 1857 PCGS MS66 CAC realized $10,281
Lot 239. 3CS 1863/2 PCGS PR67 CAM realized $64,625
Lot 272. 10C 1860-S PCGS MS65 CAC realized $42,300
Lot 289. 25C 1847 PCGS PR66 CAC realized $64,625
Lot 320. 50C 1845-O PCGS MS64 CAC realized $8,519
Lot 345. 50C 1937-D PCGS MS67+ CAC realized $19,975
Lot 362. 50C 1959 PCGS MS66+ FBL CAC realized $14,688
Lot 375. T$1 1881 PCGS PR65 DCAM CAC realized $19,388
Lot 399. G$1 1922 Grant, Star. PCGS MS68 realized $11,163
Lot 419. G$1 1870-S PCGS MS64 CAC from the Chester Roche Collection, realized $11,750
Lot 430. $2.50 1835 PCGS MS63 CAC from the Chester Roche Collection, realized $17,625
Lot 437. $2.50 1876-S PCGS MS63 CAC from the Chester Roche Collection, realized $21,738
Lot 454. G$1 1854 Type 2. PCGS MS65 CAC realized $29,375
Lot 465. $3 1887 PCGS PR65+ DCAM CAC realized $44,650
Lot 473. $5 1854-C PCGS MS62 CAC realized $34,075
Lot 499. $20 1910 NGC MS65 CAC realized $9,400
Lot 505. 50C 1838 J-77. NGC PR65 BN CAC from the Stephen Cook Collection, realized $12,338
Lot 519. $5 1860 J-272. PCGS PR65 BN CAC from the Stephen Cook Collection, realized $9,988
Lot 532. 5C 1866 J-461. PCGS PR66 CAM CAC from the Stephen Cook Collection, realized $5,522
Lot 554. $2.50 1869 J-770. PCGS PR64+ CAM CAC from the Stephen Cook Collection, realized $8,813
Lot 573. 50C 1870 J-937. PCGS PR65 CAM CAC from the Stephen Cook Collection, realized $9,694
Lot 585. $1 1879 J-1616. PCGS PR66 RB from the Stephen Cook Collection realized $11,750
Lot 602. $10 1875 J-1444. PCGS PR63 RB realized $15,863.
“After our huge auction in May, we were blown away by the number of consignments that came in for the July Auction,” Laura Sperber continued. “We do not want to ever lose the boutique feel of our auctions, so we worked very hard vetting consignments. In the end we had to pass on close to 150 coins that just would not fit our auction, either in terms of value or quality. Having proven that Legend’s quality over quantity, boutique approach results is very strong prices for our consignors. Know that we will never stray from that. We set a very high bar.”
Legend Rare Coin Auctions’ next Regency Auction is going to be a two-day event on September 26 and 27 at the Cosmo in Las Vegas, as always as the official auctioneer for the PCGS Members Only Show. Two major collections have already been consigned to Regency Auction 28. Consignments are now being accepted for that important event and will be accepted until the end of the 2018 ANA World’s Fair of Money, August 13-18. Whether you have a single rarity, a few duplicates, or an entire collection, Legend Rare Coin Auctions will present your coins to their finest advantage, resulting in the highest possible prices. For more information about consigning, contact one of the firm’s consignment specialists: Julie Abrams (845-430-4378 or julie@legendauctions.com); Greg Cohen (732-935-1168 or greg@legendauctions.com); or Jessica Berkman (214-909-7732 or jessica@legendauctions.com).
Legend Rare Coin Auctions is a boutique auction company specializing in the finest and rarest U.S. coins. Founded in 2012 by Laura Sperber, the owner and president of Legend Numismatics, the premier rare coin retail firm, LRCA was, from the outset designed to be a different kind of rare coin auction firm. LRCA’s staff of numismatic auction industry veterans includes Julie Abrams, president; Greg Cohen, senior numismatist; and Jessica Berkman, consignment coordinator. The firm’s Regency Auctions serve as the official auction for the PCGS Members’ Shows, held 4-5 times per year; the firm also conducts monthly Premier Sessions auctions. Since its founding, LRCA has sold many important collections, resulting in world-record prices, including the Coronet Collection of Morgan Dollars (#1 all time PCGS set); the David Hall—Bob Simpson Collection of Liberty Head Eagles; the Sunnywood-Simpson Collection of Morgan Dollars; the Phil Flannagan Collection of Territorial Gold, Toned Dollars, and 1795 coins; duplicates from the Gerald Forsythe Collections of Buffalo Nickels and Mercury Dimes; the Bob Simpson Collection of Standard Silver Patterns; the Northern Lights Collection of Monster Toned Morgan Dollars; the Crow River Collections of Indian Head $10s and Peace Dollars; the P.F.M Collection (former #6 PCGS Set of Morgan Dollars with varieties); and the Oak Crest Collection of Carson City $5 gold. The firm also set the record for #2 highest APR in 2016 with the sale of Bob Simpson’s duplicate 1879 $20 “Quintuple Stella” which realized $1,880,000.
To consign to an upcoming auction, contact Julie Abrams (julie@legendauctions.com), Greg Cohen (greg@legendauctions.com), or Jessica Berkman (jessica@legendauctions.com).
Vehicle Burglary-Dealer Inventory Stolen-Houston, Texas
The Houston police department is investigating the vehicle burglary of the owner of Collectors Coin Shop Bellaire,Texas while loading up at the Houston Summer Coin Show.
The following is a list of stolen coins:
- 1-Box 1/2 cents 75pcs
- 1 Box Type coins 75pcs
- 1 Box 3 cent silvers 75pcs
- 1 Box Lincolns 1909-1930 300pcs
- 1 Box Lincolns 1951-1975 300pcs
- 1 Box Lincolns 2005- date 300 pcs
- 1 Box V-Nickels 1883-1912 150pcs
- 1 Box Jefferson Nickels 1938-1950 300pcs
- 1 Box Jefferson Nickels 1951-1970 300pcs
- 1 Box Jefferson Nickels 1970-1982 300pcs
- 1 Box Barber Dimes 1892-1916 300pcs
- 1 Box Mercury dimes 1916-1935 300pcs
- 1 Box Franklins 48-63 300PCS
- 1 Box Morgan VAMS $1 150pcs
- 1 Box Peace $1 125pcs
- 1 Box Eisenhower dollars 150pcs
- 1 Box SBA $1 90pcs
- 1 Box Sac 150pcs
The majority of coins were less than a hundred dollars.
The coins were housed in flips or cardboard 2×2’s. On the front of each USA on upper left hand,denom top center and mm upper right, Bottom left MD orCCS and grade, price on bottom right(written in black ink).
Anyone with information contact:
Doug Davis
817-723-7231
Doug@numismaticcrimes.org
Bureau of Engraving and Printing – The Monthly Production Report for June 2018 Has Been Posted
The Monthly Production Report for June 2018 Has Been Posted.
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