Prices Realized Tops $4 Million at Long Beach

Given the popularity of the Long Beach Coin Expo, the strong market, and Heritage's growing Internet presence, it is little wonder that Heritage's auction did so well. Heritage Executive Vice President Greg Rohan noted: "Dealers, collectors, and investors from all over the country were out in force on the bourse floor. Coins in all price ranges were trading hands quickly and for solid figures." In the auction room, competition between bidders was no less intense. Bob Korver, Director of Heritage Numismatic Auctions, Inc., observed: "I witnessed some of the most competitive floor bidding of the last several years in Long Beach. Our bidders came to the auction knowing that we were offering the freshest, most important numismatic material available in today's market, and the winning bids reflected that realization." Heritage's introduction of a new photo projection system in the auction room also contributed to the success of the sales. Continued Korver: "At this Long Beach, we introduced a new feature that was incredibly popular with our floor bidders. As each lot is opened to bidding, we project an image of the coin on a large screen - this is the same image that our Internet bidders have viewed. The opening and closing bids, as well as the successful bidder numbers, are also projected, which helps ensure the accuracy of the information we record." When the smoke cleared, floor bidders had purchased $1,852,895, or slightly over half of the total prices realized in the Signature Sale. Astonishingly, Internet bidders spent $920,654 in the Signature sale, outspending mail bidders and Compu-bidders by an unprecedented 4:1 margin. And the Internet sales percentage was even higher in the Bullet sale.

After contributing to the success of Heritage's 2000 FUN Sale, selections from the East Coast Collection of Standing Liberty Quarters returned for a curtain call at the February 2000 Long Beach Sale. The performance this time around was no less impressive with a low mintage 1927-S MS 64 Full Head PCGS example bringing $46,000. While this was the highest individual price realized by the collection, there were numerous other strong performers. For example, a simply gorgeous 1920-D that, at MS 68 Full Head, is the single finest survivor certified by PCGS, traded hands for $29,900. A key date 1919-S MS 66 Full Head PCGS fetched $21,850 and a Condition Census 1920-S graded MS 66 Full Head by PCGS sold for $24,150.

The second part of the Richard Doyle Collection also tantalized bidders in Long Beach. Among the strongest performers was an 1835 Small Date, Small 5C Capped Bust half dime that PCGS graded MS 67. When the gavel fell, the coin sold for $10,637.50. An ever popular 1916 Standing Liberty quarter MS 66 Full Head NGC realized $22,425 and an MS 66 1887 three dollar gold piece, the finest specimen certified by NGC, brought an impressive $19,550.

In addition to representatives from other coin series, the Indiana Collection featured Seated Liberty coinage of exceptional quality and originality. An 1859 PR 65 NGC dime hammered down $2,875, an NGC certified PR 65 1859 quarter fetched $3,910, and a delicately patinated 1877 quarter MS 67 NGC went to its new owner for the sum of $3,105. Finally, an 1860 quarter PR 65 PCGS, attributed by the cataloger as an example of the scarce Type One obverse, Type Two reverse die pairing, realized $5,060. This price is nearly $1,000 more than the issue's bid in the Coin Dealer Newsletter (commonly referred to as the Greysheet).

Additional treasures from the Indiana Collection will be offered in Heritage's upcoming Central States Numismatic Society Sale. Scheduled for May 4-5, Heritage's sale will be the official auction of this CSNS convention.

As always, the combination of Heritage and the Long Beach Coin Expo delivered solid prices for classic numismatic rarities. A legendary 1796 No Pole half cent that PCGS graded Fine 15 spearheaded the copper offerings with a sum of $47,150. A PCGS MS 65 Red 1877 Indian Head cent realized $19,550, an exquisite 1916-D Mercury dime MS 64 Full Bands PCGS brought $14,950, and a highly prized 1893-S Morgan dollar drove the bidders to the level of $52,900. The latter coin had been graded MS 63 by PCGS. Among commemorative silver, a lovely Gem 1922 Grant with Star half dollar certified by PCGS found a new home at $14,950, and a sum of $21,850 was required to secure a historically interesting 1928 Hawaiian PR 64 PCGS with the original letter of presentation.

Gold coins also had their fair share of moments on the auction block at Long Beach. An NGC encapsulated near-Gem 1915-S Panama-Pacific 50 Dollar Round secured a price of $39,100, the single finest certified 1926 Sesquicentennial quarter eagle (MS 67 PCGS) realized the total of $41,400, and an 1861-D gold dollar MS 62 PCGS, a rare survivor of an important Confederate issue, fetched $33,350. The gavel fell at $34,500 for a Condition Census 1838-C quarter eagle MS 64 PCGS and an 1848-C Liberty Head half eagle MS 64 PCGS realized $47,150. Finally, Heritage's awe-inspiring lineup of double eagles included an 1860 PR 64 Cameo NGC from the Trompeter Collection that sold for $71,300, an undeniably rare 1920-S MS 63 PCGS that commanded a price of $33,350, and an NGC MS 64 survivor of the heavily melted 1930-S issue whose realized price rose to $29,900.

Heritage's single session February 2000 Long Beach Bullet Sale was held at the Long Beach Convention Center on Saturday, February 12 and realized $472,589. While the auction floor was a force to be reckoned with, the Internet dominated the sale by accounting for 61% of the total bidders and over 45% of the lots purchased. "Our use of the Internet is helping us achieve a position of dominance in the rare coin market of the 21st century," stated Heritage Co-Chairman Jim Halperin. "We're attracting more and more bidders from all over the world, and the bidder profile in our Long Beach Bullet Sale reflects that trend. What's more, consignors are starting to understand just what that means for their coins. They already know that, because of our long term contracts with Long Beach, FUN, and CSNA, only Heritage can be America's Convention AuctioneerTM. And now they're learning that only Heritage, by drawing on the most extensive mail list and Internet pool in today's market, can ensure that their coins will sell for the highest possible price." Consignments for Heritage's Central States Signature Sale are being accepted through March 23 and for the Central States Bullet Auction through April 24. For more information on consigning, please contact the Heritage Consignor Hotline at 1-800-US COINS (800-872-6467) Ext. 222.