1855-S $3 gold coin brings $1,322,500 as top lot in $31+ million Chicago rare U.S. coin event Strength seen in all areas of the rare coin market in Aug. 11 Platinum Night Auction; 91%+ Sell-Through by Dollar Value
News-Antique.com - Aug 16,2011 - DALLAS, TX – A unique 1855-S $3 PR64 Cameo NGC, CAC, Ex: Golden Gate Collection, a supreme rarity in the world of numismatics, brought $1,322,500 – along with applause in the auction room – as the top lot of Heritage Auctions’ Aug. 11-12 Signature® U.S. Coin & Platinum Night Auction at the Marriott-Chicago O’Hare (all prices include 15% Buyer’s Premium).
Overall the auction realized more than $31.345 million (not including Post Auction sales), as 5,154 bidders vied for 7,370 lots, translating into an impressive sell-through rate of 91% by total lot value and 95% by total lots.
“These are great results with strong showings in every corner of the market,” said Greg Rohan, President of Heritage Auctions. “Collectors are continuing to come to Heritage to pursue the top rarities that we gather for each auction and non-traditional buyers are looking to temper their portfolios against the tumult of world financial markets. The combination resulted in final figures that were nothing short of remarkable.”
Directly illustrating the interest across the spectrum of types, a trio of diverse coins rounded out the top quartet of the auction. An 1893-S Morgan Silver Dollar, MS67 NGC, from the Norweb and Jack Lee Collections, and the highest-graded NGC-Certified specimen, took the second spot in the auction with a $546,250 price realized, giving collectors of the ever-popular Morgan Dollars something to cheer about. An 1863 $10 PR65 Deep Cameo PCGS, CAC, the sole finest at PCGS, charmed collectors into several rounds of intense bidding before finishing the auction $299,000 and an historic 1796 $2 1/2 No Stars MS61 PCGS, CAC, the finest that Heritage has offered in three years, realized $276,000.
An 1855-S 50C Arrows PR65 NGC, WB-1, Ex: Golden Gate Collection, was one of the auction’s most anticipated lots, with the coin being one of just three known Proofs of this noted coin, and the only currently available specimen. The coin did not fail to impress collectors as the price rose quickly amidst spirited bidding to find a final price realized of $276,000.
Further highlights include, but are certainly not limited to:
1855-S 25C Arrows PR64 NGC. CAC. Ex: Golden Gate Collection: Unique Branch Mint Proof, believed to be the first San Francisco Mint Quarter. Realized: $276,000.
Heritage Auctions, headed by Steve Ivy, Jim Halperin and Greg Rohan, is the world’s third largest auction house, with annual sales more than $700 million, and 600,000+ online bidder members. For more information about Heritage Auctions, and to join and gain access to a complete record of prices realized, along with full-color, enlargeable photos of each lot, please visit HA.com.
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