TOP-10 records at auctions for the sale of coins and their samples

News and analytics from the world of rare coins, numismatic market and community of collectors # 150
Last Thursday I attended the 1794 Carter Silver Dollar sale for $ 10,016,875. This was a historic record for the price of a coin sold at an auction.

Since I doubt that this record will be broken in the near future, now is the time to compile the world's top 10 auction results for the sale of coins and their probes.

I am absolutely confident in the quality of my analytical reports on US coins and samples, but I do not have much experience in analyzing the sales of antique or Islamic coins. In truth, I collected information from various sources about the sales of coins minted before the year 1000 and did not study the results of these auctions myself.

I am very familiar with US auctions. Shippers and buyers often give me news of coins sold for millions of dollars. In addition, I know many buyers personally. With regard to the results of European auctions, I hope that the information that comes from the European organizations conducting the auctions is accurate enough, although I have no evidence of its completeness, accuracy and veracity.

Insignia, orders and medals are not included in this top, because it is only about coins and samples of coins. It included those coins that were sold at a prestigious auction for at least $ 2,760,000 or an equivalent amount in another currency. I knew, of course, that the Brasher's Doubloon and the 1804 dollar would be on this list, but I was surprised to include some other coins here. The compilation of this top turned out to be much more entertaining than I expected.

10. High quality 20 dollar gold coin sample

The 1907 Saint Gaudens $ 20 is the most famous and coveted coin sample. Presumably, there are from 19 to 21 copies.

The demand for this sample is very high both among collectors of test coins and among ordinary numismatists. Often this coin was purchased by collectors of gold coins, as well as those who collect coins of Saint Gaudens, intended for ordinary circulation. In the history of US numismatics, there are no other coins with such quality of relief and such a variety of details. In addition, President Theodore Roosevelt was very interested in this coin.

On November 4, 2005, a sample of this coin (Trompeter-Morse) was sold for $ 2.99 million. On Friday, June 29, 2012, the auction house "Stack's-Bowers" put up for sale the same coin for $ 2.76 million, at this price I and added it to this list. To learn more about the special history of this probe and its characteristics, you can read my article on this topic from July 4th, 2012.

9. "Stamp on the chest" Doubloon Brasher

On January 12, 2005, at Fort Lauderdal, the Heritage Auction House sold the Gold Collection containing 2 Brasher doubloons. They were created in New York by a renowned silver master in 1787. The exact origin and purpose of these two gold pieces is a matter of controversy among specialists, but there is no doubt that for more than 150 years they have been considered especially valuable to collectors.

Numismatists know 7 Brasher's doubloons, 6 of which bear the “EB” stamp on the eagle's wing, and the 7th copy has this stamp on the bird's chest. In addition, there is a copy of the half-doubloon kept in the museum of the Smithsonian Institution, as well as two more copies of the Spanish Empire doubloons in the Peruvian style, the creation of which was the handiwork of the same silver master, Ephraim Brasher. The term “doubloon” goes back to the Spanish 8 escudos gold coin. (To learn more about these coins, you can check out my article on the role of gold coins as a currency in different countries of the world).

The condition of the doubloon stamped on the eagle's chest was assessed by NGC in the 1990s as Fine-45, and later by PCGS assessed as almost never in circulation (AU-50). It sold for $ 2.99 million on January 12, 2005. The lucky owner, Steve Contursi, acquired 2 rights to the coin, and Don Kagin acquired the remaining 1, which I wrote about in the Numismatics News article shortly after this sale. In December 2011, as I noted in this column, John Albanese agreed to buy back these coins without publicity.

7. Part 1. Mikli-Havn-Kweller 1804

The 1804 silver 50 US dollars do exist, although none were issued in 1804. 7 of them are in museums.

Joseph Mickley and Matthew Stickney were among the first, if not the very first, to systematically collect US coins of various copper, silver and gold series with the intention of owning a complete collection in one day. They both had 1804 silver dollars, just like Reed Havn, one of the most famous collectors of the late 20th century. These silver dollars were purchased by David Kweller for $ 522,500 at the Stack Auction (New York) in October 1993. Kweller has amassed a huge collection of US coins and samples in over 30 years.

In April 2008, the Heritage Auction House auctioned Kweller's collection of silver dollars. Although most experts rated these coins as no higher than 60, the dollar was officially rated Proof-62. It sold for $ 3,737,500. An east bank collector who hadn't even seen this coin before buying it acquired it online.

7. Part 2. Olsen-Havn Coin "Liberty" from nickel 1913

At the Stack Auction, which featured the 1804 silver dollar, a nickel coin featuring the 1913 Statue of Liberty was sold in October 1993. Dwight Manley, Partner of Spectrum Numismatics Corporation, is the proud owner of this $ 962,500 coin.

On January 6, 2010, Heritage sold a nickel coin for $ 3,737,500, which I already wrote about in my article. In it, I gave my reasoning on the history of this coin and the results of trading. Suffice it to say that there are only 5 of these coins, all with Proof quality. The coin sold at this auction was rated Proof-64 and has a confirmation from CAC.

In April 2013, Heritage auctioned another 1913 nickel coin. The heirs of George Walton decided on this, although before that she had exhibited in the ANA exposition for 9 years. The condition of the coin was assessed by PCGS Corporation as Proof-63.

6. Panticapaeum (about 350-300 BC) Golden stater

On January 4, 2012, in New York, the London firm "Baldwins" with its partners put up for auction an ancient Greek gold coin from the policy of Panticapaeum, on the territory of which an important city and port were located. Today in this place is the city of Kerch.

Most of the articles on the sale of this coin also mention its price. It seems that its real selling price was $ 3,802,500. I believe this coin was in perfect condition (AU) with minimal traces of use. It weighs 9.12 grams, which is about 10% more than the weight of USD 5 gold ("Half Eagle").

The front of the coin is adorned with the face of a bearded satyr who was an inferior creature in ancient Greek mythology. The reverse depicts a griffin - a fictional creature with the body, hind legs and tail of a lion, and the head and wings of an eagle. The ear of grain on the back is a very important detail, as grain was a staple in Panticapaeum. The prosperity of the polis lasted from 300 to 200 BC, when traders from North Africa brought large quantities of grain to what we now know as Ancient Greece.

5.Russia: sample of the silver ruble of 1740

Ivan 6 became emperor in infancy, and his reign lasted only from late October 1740 to early December 1741. Several coins and their samples were issued in his honor. One of the probes is more valuable than the others.This is a sample of the silver ruble minted at the St. Petersburg mint in 1740. It weighs 25.78 grams, which is slightly less than a US silver dollar ("Morgan" or "Peace").

On Tuesday afternoon, October 9, 2012, at a hotel in Zurich, the Swiss firm "Sincona" put up the silver ruble of Ivan 6 for sale at a price equivalent to $ 3,858,850. Obviously, the previous owner engraved or branded several letters on the edge of the coin. The images of the coin show that it has not been repainted and may be in a Fine-40 condition. The Sincona catalog contains information that only 2 of these coins have been put up for auction in the last 100 years.

The sampler of this ruble was part of a complete private collection of silver and copper coins and their samples of the Russian Empire, which was collected throughout the 20th century. The collection contained over 9,000 pieces, most of which have not yet been sold. Sincona will conduct other auctions for coins from this collection in the future.

4.Oman-Childs dollar 1804

On August 30, 1999, in New York, the Bowers and Merena auction house sold a collection of coins of the Childs family that had been kept in Illinois for decades and never came to light. B&M (based in New Hampshire) was then run by C.D. Bowers and Christine Karstedt, who later formed ANR.

Among other rarities in the collection of the Childs family, the 1804 silver dollar of the first category or "class" was found. These dollars were minted in 1834 or 1835 and were intended as a gift to foreign monarchs as part of the "1834" set. Perhaps this dollar was in the collection when it was presented to the Sultan of Oman (“Emir of Muscat and Oman”). Oman is a country at the mouth of the Persian Gulf. It adjoins Saudi Arabia with its borders.

I have researched almost all 1804 dollars that were fairly judged to be above 60, but the Childs collection is of the finest quality I have ever seen on a dollar like this. Before being auctioned in 1999, it was rated 68 by PCGS. David Akers became a happy buyer and Jay Parrino offered the second highest bid after David Akers. Scott Travers also offered a competitive amount. Akers acted on behalf of a collector from the US Southwest.

3. Umayyad Islamic dinar, 105h (about 723 AD)

On April 4, 2011, this gold coin was put up for auction by Morton & Eden with the assistance of Sotheby's in London. It was sold for 3,720,000 pounds, which is equivalent to approximately 6-6.1 million US dollars. I confess, I did not immediately understand what kind of coin it was.

Dinar is a currency that was in circulation in many countries during antiquity and the beginning of the Middle Ages. This gold piece weighs 4.28 grams and contains approximately 0.1376 ounces of gold. Thus, its weight is only slightly higher than that of the US gold dollar ("Quarter Eagle").

Based on the information from the "Morton & Eden" catalog, there are 2 types of dinars, which, apparently, were created from the gold of the Caliph. Dinars of the first type were minted in about 711 AD. It is known about the existence of 8 such coins, one of which was sold at this auction in London for 648,000 pounds, which is approximately equivalent to 1,047,000 US dollars.

There are 10 or 11 coins of the second kind, including our $ 6 million coin. Only some of them are in private collections. This type of coins, based on the information in the catalog, is of particular importance due to the fact that they were the first Muslim coins in the territory where the Kingdom of Saudi Arabia is now located. Some of them bear the Damascus stamp, so there is a discussion about where they were minted after all. They may have been created by itinerant coin makers in various locations.

2. "Double Eagle" Fenton 1933

Although often referred to as Farouk's gold coin, it has not yet been proven that Stephen Fenton's coin is the same coin that King Farouk once owned. Someone in Europe or Asia wanted to sell this coin in a way that would make potential buyers think it was Farouk's. This someone also found a merchant who bought some of the coins that were indeed in Farouk's collection. In the 40s of the 20th century, a permit was issued to export this coin from the United States and deliver it to King Farouk. In the United States during this period, permission was needed to export or import any gold coins.

Fenton and the US Treasury Department in the 90s of the last century came together in a lawsuit that dragged on for several years. Fenton was either unable to financially support the debate, or simply did not want to, so he came to an agreement with the Ministry that it was illegal for him to own the 1933 coin. The case required the sale of the coin at an auction. Fenton, along with the Ministry, divided the proceeds from the sale of the coin. (This case also relates to my articles about a more recent case concerning the same Sweet-Langbord coin. You can see my analysis of the results of the trial in this article).

On July 30, 2002, in New York, the Sotheby’s joint-stock house jointly with Stack’s sold Fenton's coin at an auction for $ 7,590,020. David Redden was a salesperson. Whoever bought the coin was not a numismatist.

1. Sample of a 1794 silver dollar

On Thursday, January 24, 2013, Stack's-Bowers auctioned off the Cardinal's collection of big cents, a 1792 Knoxville-Cardinal half-dissm and a 1794 Carter silver dollar, awarded SP-66 quality by PCGS. (You can read about the importance, rarity and special origin of this dollar in my article).

Laura Sperber won the auction for $ 10,016,875 (= 8.525 million + 17.5%). Legend Numismatics was the real buyer of the dollar, and Sperber and Bruce Morelan were proxies. I don't think any other coin will be auctioned in the near future for more than $ 8 million.

An interesting fact is that the first coin sold for more than $ 1 million was made from nickel (from the Eliasberg collection featuring the Statue of Liberty in 1913) and sold in May 1996. It is also interesting that the only piece sold for more than $ 10 million was a silver coin. Please note that there are as many as 4 silver coins and one nickel in this top. Often, novice collectors and those who do not do it at all, mistakenly believe that gold coins are incomparably more in demand than silver, copper or nickel. My next article will be devoted to just the expensive copper cents from the Cardinal's collection, which were sold at auction that night.