Heritage Sells Last of the Fabled Ed Trompeter Estate

Dallas, Texas: Heritage sold the last of the spectacular proof gold coins from the Ed Trompeter Estate through its Philadelphia 2000 Signature Sale. "We have been dispersing the Trompeter coins through direct sales and auctions since the fall of 1998," stated Heritage Executive VP Greg Rohan, "and we're proud to announce that the entire collection sold for approximately $16.5 million. Private collectors, sometimes directly from us and other times acting through intermediary dealers, purchased the complete set of 1858-1907 proof Liberty half eagles, several of the proof Liberty double eagles, the finest known High Relief and Ultra High Relief double eagles (both certified MS 69), the famous and unique Amazonian patterns in gold, and the satin finish proof 1907 Arabic Numerals Saint-Gaudens double eagle (PR 68 NGC), to name just a few of the highlights. Coin and fine arts dealer Silvano DiGenova sold a few of the nicer items, including, most recently, a pair of unique satin and matte proof 1907 No Motto $10 Indians certified by NGC as Proof 62 and Proof 64, respectively. Other legendary rarities in this collection include the complete 1908-1915 matte proof $5, $10, and $20s dispersed through our October 1998 Long Beach auction, and the complete proof Liberty eagle set dated 1858 through 1907, most of which sold in our January 1999 FUN Signature Sale. The $20 Liberty proofs were broken up and sold one-by-one. The final five Trompeter coins were auctioned as part of our Philadelphia 2000 Signature Sale. Among them were an 1867 double eagle PR 65 Cameo NGC that sold for $86,250, and a lovely 1907 Liberty double eagle PR 65 Cameo NGC that brought $34,500."

Heritage Rare Coin Galleries acquired the estate of noted California industrialist Ed Trompeter on August 4, 1998, with Mr. DiGenova's company, Tangible Asset Galleries (OTC BB: TAGZ.OB), sharing in the transaction by taking a 20% participation in profits and expenses. The purchase, for an eye-popping $15,177,500, was the first eight-figure private transaction in numismatic history, and its public announcement at the 1998 Portland ANA Convention stunned the rare coin industry. "Numismatists were not the only people who took note of our purchase," continued Rohan. "In July 1999, Guinness World Records awarded Heritage Rare Coin Galleries a place of honor in their database for the world's largest private transaction for a coin collection."

The acquisition and sale of this fabulous collection was a positive experience for the Dallas firm despite the lengthy dispersal period. According to Heritage Co-Chairman Jim Halperin: "The market turned against us, especially during the twelve months after the initial transaction, when proof gold and gold patterns dropped noticeably in price. Without factoring in the benefit of the publicity, the collection was not a huge moneymaker for us. But the fact that we ultimately sold all of the coins, and realized a respectable profit, shows what a great value the collection represented at the time of purchase."

"The experience gained from handling these incomparable rarities has been priceless," concluded Rohan. "Through the sale of this collection, we were able to cultivate relationships with collectors who specialize in proof gold coins and other gold rarities. By developing into dedicated clients of Heritage Rare Coin Galleries and Heritage Numismatic Auctions, these collectors have broadened their numismatic purchases to include rarities from all denominations and series."