U.S. Coins, Asian Rarities, and Currency All Perform Equally Well at Heritage's June Long Beach Sale

Dallas, Texas: Four days of auctioning at the June 2000 June Beach Coin Expo resulted in a total prices in excess of $4.1 million for Heritage Numismatic Auctions, Inc. In the words of Bob Korver, Heritage's Director of Auctions: "Our status as the official auctioneer of the Long Beach Coin Expo guaranteed that our consignors' material would receive the undivided attention of each and every bidder who made the pilgrimage to southern California. Of course, the diversity of the material offered was also an important ingredient in our success. Whether it was Ancient coins, Asian rarities, or classic U.S. favorites, our two June Long Beach auctions offered the utmost in quality and originality for collectors of all tastes."

Heritage Co-Chairman Jim Halperin added: "I continue to view our Internet presence as the linchpin of our success at auction. Take for example our Long Beach Bullet Auction. Internet customers accounted for 59% of the bids registered and purchased $161,000, or 38% of the sale. These figures bested those of Compu bidders, mail bidders, and even floor bidders. In addition, I cannot help but mention the significance of the Internet to our Long Beach Signature Sale. The world coins in the first and third sessions benefited from our on-line advertising campaign as well as our ability to accept bids from collectors across the globe."

The single-session Bullet Auction kicked off Heritage's auction presence at Long Beach at 7:00 PM on June 7. The sale realized an impressive $424,646.70, with an 1871 Indian cent MS 64 Red and Brown NGC being of particular note. This coin sold for $1,035 even though the Coin Dealer Newsletter (commonly referred to as the "Greysheet") bid is a mere $610 and the issue Trends at $825. Along similar lines, a PR 66 PCGS 1869 three cent silver went to a fortunate bidder for $1,552.50. This is the highest price we have yet to record for this low mintage issue at this desirable level of preservation.

Commencing on Thursday, June 8, Heritage's Long Beach Signature Sale realized $3,712,814 before coming to an end two days later. The Litrenta Collection of Ancients anchored the first session and an Ancient Greek Luciana, Heraklia AR stater struck circa 281-272 BC deserves special attention. Grading superb XF, the coin traded hands for $1,955 despite the estimate of $800-$1,000. Along similar lines, an Ancient Greek Bruttium, Lokroi Epizephyrioi AR stater produced between 332 and 326 BC and grading about XF fetched $2,070. Warren Tucker, Heritage's World Coin Cataloger, placed the upper limit of this coin's estimate at $1,000, or half of its realized price. A lovely XF Ancient Greek Thrace, Maroneia AR stater from the 4th century BC sold for a comfortable $2,300, and a 69-79 BC Roman Imperatorial Vespasian gold aureus surpassed the estimate by driving the bidders to $3,565.

Eagerly anticipated by both Heritage numismatists and specialists in Asian coinage, session three saw the Piedmont Collection and the Colonel DeLong Collection turn in record-breaking performances. Among the impressive results from the latter collection was a Japanese Meiji 3 (1870) gold 2 yen, JNDA-1.4, Fr-48, KM-Y.10 in BU that traded hands for $1,207.50 and a BU Japanese Meiji 4 (1871) gold 5 yen, JNDA-1.3, Fr-47, KM-Y.11 that went for $2,990. The Japanese offerings in the Piedmont Collection included five rare Leprosarium coins. The single highest realized price of this group was the sum of $2,300 paid for an XF Nagashima-Aisei En brass 1 yen struck circa 1931-1948.

"It was truly a delight to be present on the bidding floor when the Korean portion of the Piedmont Collection crossed the auction block," noted Tucker. "The list of memorable prices realized is so long as to defy a complete listing, but a few pieces come readily to mind. Lot 6879 offered a VF Kuang Mu brass 5 fun year 3 (1899) that I estimated at $400-$500. The gavel fell at an amazing $3,680. A Yi Hyong white metal pattern 5 mun CD 1885, SCKC-22.2, KM-Pn6 bested the $5,000 estimate by bringing $12,650, and a Yi Hyong white metal pattern 1 yang CD 1885, SCKC-22.1, KM-Pn7, buried the $10,000 estimate with a realized price of $18,400. Both of these coins were graded Uncirculated and both were the first of their type that I had ever seen."

The darling of the Piedmont Collection's Chinese coinage was, of course, the XF Sinkiang, Sungarei essay (pattern) standard dollar (7 mace 2 candareens) produced circa 1906. Highlighted as lot 6978, this coin was estimated to sell for between $25,000 and $30,000, but the bidders drove the realized price to $43,700.

Perhaps the most interesting coin in session three was the chopmarked 1880-S eagle that came out of China and directly into Heritage's auction. This coin, offered as lot 6628, required the impressive sum of $2,300.

Moving on to session four, Heritage offered certified U.S. rarities of significant proportions. The Dale Krueger Collection of Barber quarters sold a key date 1901-S in an MS 64 NGC holder for a solid $23,000, as well as a PCGS certified 1913-S in MS 64 for $7,762.50. New York attorney Charles O. Blaisdell was undoubtedly excited about the price of $2,415 that a bidder paid for his conditionally rare 1874 Indian cent MS 65 Red NGC. This issue has a Greysheet bid of a mere $550. Among the gold offerings in the Willow Grove Collection were an 1852-C half eagle in an AU 55 NGC holder and an NGC certified AU 58 1855-D half eagle. Both coins realized solid prices, the former at $2,300 and the latter at $4,830.

Among the remaining gold coins in the sale were the four rarities from the Collection of an East Coast Family. The most significant of these was the 1933 eagle whose pedigree included Paramount's 1981 sale of the Kruthoffer Collection. This coin, graded MS 65 PCGS, drove the bidders to an eye catching sum of $207,000.

Session five opened strong with the price of $11,500 that an early dollar specialist paid for lot 7737. This was the 1796 Draped Bust dollar that Heritage's Chief Cataloger Mark Van Winkle recognized as only the third known representative of the B-6 die variety. Finally, the sale ended with some spectacular U.S. currency sales. Most notably, an 1869 $2 Legal Tender Note, FR-42, Choice CU traded hands for $2,386.25, and a popular 1886 $5 Silver Certificate, Fr-236, Choice CU brought $5,060.

More information on consigning to upcoming auctions can be obtained by contacting the Heritage Consignor Hotline at 1-800-US COINS (800-872-6467) Ext. 222.