Press Release - October 7, 2013

Heritage Holds Greatest Long Beach Expo Numismatic Auction Ever, Selling $36 Million Of U.S., World And Ancient Coins And U.S. Currency

Original 1912 Gold Proof Set brings $358,375 to lead $17.5+ million worth of U.S. Coins

DALLAS — A stunning complete 1912 gold proof set originally acquired directly from the U.S. Mint, brought a combined $358,375 to lead Heritage's Sept. 25-29 U.S. Coins Signature® Auction at the Long Beach Numismatic Expo. The top coin of the set, each of which was sold individually, was a 1912 $20 PR66+ PCGS Secure, CAC, which realized $164,500. Each of the coins in this set graded Proof-66 or Proof-66+.

All prices realized include Buyer's Premium.

The $17.5+ million total, when combined with the more than $10.6 million realized in Heritage's World and Ancient Coins Signature Auction and the $7.6+ million realized in its U.S. Currency Signature Auction, both also held as part of the Long Beach Expo, adds up to a $36+ million dollar week for the company. That total represents the highest total the combined Long Beach events have ever realized.

"Results from all three auctions absolutely exceeded our expectations, which were already significant," said Greg Rohan, President of Heritage Auctions. "Collectors recognized the depth of quality across the board in the more than 7,000 lots in the U.S. Coins auction and they went after them accordingly. This auction was not about a single coin bringing a massive price; it was about thousands of coins bringing top prices for their type, top to bottom, throughout the catalog."

Further Long Beach U.S. coin offerings included an 1879 $4 Flowing Hair, Judd-1635, Pollock-1832, PR65 Cameo PCGS Secure, which proved popular at $193,875.

Three examples representing the three distinct varieties of the extremely rare proof 1864 cent with "L" on the ribbon were offered in this auction, and all three sold for six-figure prices. Only 20 examples of this issue, in any variety, are traced today. An example of the Snow-PR2 variety graded Proof-65 Red by NGC sold for $141,000, while a Snow-PR1 example graded Proof-66 Brown by PCGS sold for $129,250. The unique Snow-PR3 coin, graded Proof-64 Red by PCGS realized $123,375.

In addition, a pattern example of this coin struck in aluminum, graded Proof-65 Cameo by PCGS, sold for $88,125.

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I believe Heritage did a very good job of the cataloging. I am very pleased overall!
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