Heritage Galleries & Auctioneers (HG&A) is proud to offer the Jules Reiver Collection of U.S. Coinage at auction on January 24-28, 2006 in our Dallas, Texas headquarters.

Jules Reiver was passionate about everything he did in his storied life, from his early days in Wilmington, Delaware where he worked in his parent's flooring store, to his service in World War II for which he was awarded the Bronze Star for his part in the Battle of the Bulge, to his life in numismatics.

That passion is reflected in the Jules Reiver Collection of U.S. Coinage. Ranked among the greatest numismatists of the Twentieth Century, Mr. Reiver established a hobby-wide reputation for his discerning eye, inquisitive mind, and generosity with his knowledge over five decades of dedicated collecting. His collection evolved to focus on die varieties and die states of all U.S. silver and copper coinage from 1793 through 1839, which, over the ensuing 40 years, would become the most complete collection of its kind. Before his final purchases, he had amassed more than 5,000 significant issues, representing a landmark achievement in the history of American numismatics.

The Reiver Collection includes items from most 19^th and early 20^th century copper, nickel, and silver series, but is nearly complete in the 18th and early 19th century copper and silver issues. Concentrating on the earliest United States coinage issues from 1793 to 1838, from Half Cents through Bust Dollars, there are only a few varieties that are missing. Mr. Reiver had nearly complete die variety collections of United States half cents, large cents, early half dimes, early dimes, early quarters, early half dollars, and early silver dollars. His collection was possibly the most complete of any collector to date. He also collected Liberty Seated coinage, as well as other 19th and 20th century issues."

Not only was Mr. Reiver a collector and student of numismatics, whose most active period of collecting was from the mid-1960s through the early 1990s, but he was also an author who wrote several publications focused on the early copper and silver series. His Variety Identification Manuals brought a scientific approach to die variety attribution, while his attribution guide to the Braided Hair Large Cents formed the basis for the current standard reference to that series. Mr. Reiver was also a pioneer in the collecting of Reeded Edge Capped Bust Half Dollars, and those who pursue this series could not do so without his Variety Identification Manual for United States Reeded Edge Half Dollars.

Highlights of the Jules Reiver Collection include:

• 1841 1/2 C Original. PO-2, B-1, R.6. PR63 Brown NGC. PR60 EAC.
• 1794 1C Head of 1794. S-42, B-29, Low R.4. AU58 NGC. AU50 EAC.
• 1797 1C Reverse of 1797, Stems. NC-7, B-30, R.8. VF Details NCS. VG8 EAC.
• 1821 1C N-1, R.1 Unc Details NCS. AU55 EAC.
• 1888-S 25C MS67 NGC.
• 1878-S 50C AU Details NCS.
• 1859-S $1 MS62 NGC.
• 1796 25C B-1, R.5. AU53 NGC.
• 1796 50C 15 Stars VF Details NCS.
• 1796 50C 16 Stars VG8 NGC.
• 1797 50C. O-101. XF Details NCS.
• 1797 50C. O-102. VG10 NGC.
• 1794 $1 VF25 NGC.
• 1795 $1 Flowing Hair, Three Leaves. B-22, BB-29, R.8—Double Struck— VF Details NCS.
• 1798 $1 10 Arrows. B-21, BB-107, R.4. MS61 NGC.
• 1800 $1 Normal Dies. B-20, BB-185, R.6. XF45 NGC.

This auction is open for bidding now at www.HeritageGalleries.com/Coins.

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Heritage Galleries & Auctioneers (HG&A) reported $477,802,341 in net sales for 2005, by far the best overall year in HG&A's history. This figure represents results from all of HG&A's departments, and includes $304,058,341 in auction sales and $173,744,000 in private treaty sales. Compared to 2004, which reported total sales (auction and private treaty) of $321,481,822, 2005 saw an overall increase of approximately 48.6%. Total auction sales in 2005 (excluding private treaty sales) were $304,058,341, a 66.3% increase over 2004's $182,790,132.

This was an exceptional year, right from the very beginning. We started the year with a record-breaking auction at the Florida United Numismatists convention - over $61 million, making it the biggest coin and currency auction ever held - and went on to break record after record as the year progressed. February saw Heritage set a new record for currency auctions - better than $12 million in an auction held in our Dallas, TX headquarters - and by December, Heritage had sold six of the top 11 coins of 2005, including all of the top four!

Our World Coin department turned in some exceptional results this year, including a record price of $431,250 for a 1643 Charles I Gold Triple Unite, making it the second most expensive British coin ever sold.

Currency was a hot area in 2005, with Heritage claiming the record for the largest currency auction ever, the $12 million Dallas event held in February, and a new record set for small size US notes - a 1928 Federal Reserve note with a face value of $10,000 that brought $241,500 in the same auction. This contributed to a record year for this department, which demonstrated a 106% increase over 2004, bringing their total to $36,049,300.

One of the most exciting events of 2005 was the addition of Dr. Edmund P. Pillsbury to the HG&A staff. As Managing Director - Fine and Decorative Arts, Dr. Pillsbury is positioned to establish HG&A as a major player in this fascinating field. Already, HG&A is gaining a reputation as a serious voice in Fine Arts, especially after our November auction, in which Norman Rockwell's stunning painting, The Song of Bernadette, realized $478,000. Overall, our Fine Arts department demonstrated a significant increase over last year. In 2004, Fine Arts posted overall results of $1,135,934. This year that number increased by over 450%, to $6,271,131.

Heritage Comics had a great year in 2005, with a new record set for the sale of a single page of original comic art - $195,500 paid for the Batman #11 original cover from 1942. Movie Poster results were equally impressive, as evidenced by the fact that Heritage now holds the world-record for the largest Vintage Movie Poster auction ever held, at $1.56 million for our November auction. Reporting a respectable 2004 total of $2,122,505, those results more than doubled in 2005, with total earnings from Movie Poster sales at $4,348,659.

2005 was also a strong year for our Sports department. May saw the sale of a 1954 game worn Mickey Mantle jersey for $119,500, while in November, a 1911 Addie Joss Day panoramic photo sold for $89,625, a record for an unsigned sports photo. With a 146% increase in earnings over 2004 - $4,636,463 in 2005 as opposed to $1,877,886 in 2004 - our Sports department is poised to dominate the field in the coming years.

Of all the HG&A Departments, none garnered more publicity than our Music & Entertainment division. In April, the eyes of the world were on Heritage, as Johnny Carson's Tonight Show microphone hit the auction block and sold for a staggering $50,787 to a private collector. The October auction was equally exciting, as Johnny's Tonight Show desk was offered, realizing $38,837.

It was very exciting to watch the growth of our Political Memorabilia & Americana department in 2005. A significant letter hand-written by the important Romantic poet John Keats sold for $126,500 in April, and subsequent auctions offered rare and personal items from such intriguing historical figures as Howard Hughes and Amelia Earhart. In 2004, this department was responsible for $364,666 in total sale. In 2005, that number rocketed to $3,047,267! Without a doubt, this was the year that rocketed HG&A to the top of the Political Memorabilia & Americana field.

All figures include HG&A's Buyers Premium. These auction figures only include those items that actually met reserve and do not include consignor buy-backs.

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