Heritage's First CurrencyAuction.com™ Sale Results in Numerous Satisfied Bidders

Dallas, Texas: The first CurrencyAuction.com™ sale closed on February 29 amid considerable excitement at Heritage's world headquarters. In the two weeks that the sale was online, 231 bidders placed more than 1,400 bids. Of the 278 lots in the sale, 94 successful bidders purchased 231 lots, for a sale rate of 83%. "Words can hardly describe our excitement over the first CurrencyAuction.com™ sale," noted Consignment Coordinator Holli Hughes. "By the end of the first week we began to anticipate impressive results for this sale, and we drew the first winner of a Crisp Uncirculated 1899 Silver Certificate by the name of Robert Palsha. But none of us at Heritage were prepared for how successfully the sale ended. In the last week alone we counted almost 100 new bidders. And the number of lots that sold speaks volumes for the ease with which our new customers registered, bid, and won on our Interactive Website™. We received numerous compliments from bidders and consignors for how well the software worked in our very first sale."

In celebration of CurrencyAuction.com's™ first major achievement, Heritage held a drawing for a second Crisp Uncirculated 1899 silver certificate. The lucky winner, 50-year-old Ronald Schwartz of northeast Pennsylvania, started collecting coins in the third grade. Although the collector used to pluck valuable items from pocket change in those bygone days of the hobby, recent years found Mr. Schwartz trading more and more coins at local flea markets. It was at these venues about two years ago that Mr. Schwartz acquired the bug for currency collecting. "Since then, I have started to form a meaningful collection of currency," noted Mr. Schwartz. "Kevin, the second of my three sons, is also starting to collect, and my youngest boy Steven has shown a keen interest in the hobby. He is a constant companion on my outings to flea markets and shows in the area."

The first CurrencyAuction.com™ sale set a precedent for diversity that rivals Heritage's equally prestigious Exclusively Internet™ sales. Among the more impressive prices realized was the total of $3,700 required to purchase a scarce 1882 $10 Second Charter Brown Back, Fr-490, VG from the San Miguel National Bank of Las Vegas, New Mexico, Charter #2454. A 1901 $10 Legal Tender Note, Fr-117, VF sold for $420 and a 1918 $2 Federal Reserve Bank Note (Richmond), Fr-761, XF traded hands for $875. In addition, a 1929 $20 Type One, Fr-1802-1 in VF-XF from the First National Bank of Edgerton, Wisconsin, Charter #7040 went to an enthusiastic bidder for $200.

The real pride of the sale was, of course, the sheet of 1974 Federal Gas Ration Coupons. The coupons were featured in an article on page 25A of the of the Dallas Morning News on Friday, February 25. The publicity generated by this article, as well as others in national numismatic and currency publications, apparently caught the eye of a Texas businessman who purchased the 12-coupon sheet in Crisp Uncirculated for the handsome sum of $3,100. In addition, the same bidder purchased one of the single coupons, also graded CU, for $1,350.

The second Crisp Uncirculated single coupon went to Victor Annaloro, a retired New York police officer, for the sum of $1,100. "I had heard about the coupons in the 1980s," stated the 56-year-old Mr. Annaloro, "but they seemed to disappear until I saw them on Heritage's Website. I remember the round-the-block gas lines of the 1970s, a fact that allows me to appreciate the rich history of the coupon that I just purchased. It was a wonderful feeling to get in on the action that surrounded Heritage's offering of these coupons."

"The first CurrencyAuction.com™ sale was an unqualified success in all regards," concluded Bob Korver, Director of Heritage Numismatic Auctions, Inc. "The intense bidder activity and the number of lots sold were both equally impressive. I was also happy to hear Mr. Annaloro's thoughts concerning his newly acquired gas ration coupon. He has been an avid collector of world's fair tickets and scrip for some time, and it's obvious that historical and artistic appreciation forms the foundation of his hobby. It is a source of pride for us when customers such as Mr. Annaloro and Mr. Schwartz win lots that they will cherish for a long time. After all, customer satisfaction has, and always will be, Heritage's primary goal."

A new CurrencyAuction.com™ sale opens on the 1st and 16th of every month and closes on the 15th and 30th, respectively. Bidders can register and participate with ease on http://www.CurrencyAuction.com. For more information, contact Consignment Coordinator Holli Hughes at holli@currencyauction.com, or 800-872-6467 Ext. 283 (24-hour voice mail).