Rare Coin Investor

Strength seen in all areas of the rare coin market in Aug. 11 Platinum Night Auction

DALLAS, TX – A unique 1855-S $3 PR64 Cameo NGC, CAC, Ex: Golden Gate Collection, a supreme rarity in the world of numismatics, brought $1,322,500 – along with applause in the auction room – as the top lot of Heritage Auctions’ Aug. 11-12 Signature® U.S. Coin & Platinum Night Auction at the Marriott-Chicago O’Hare (all prices include 15% Buyer’s Premium).

Overall the auction realized more than $31.345 million (not including Post Auction sales), as 5,154 bidders vied for 7,370 lots, translating into an impressive sell-through rate of 91% by total lot value and 95% by total lots.

“These are great results with strong showings in every corner of the market,” said Greg Rohan, President of Auctions. “Collectors are continuing to pursue the top rarities that we gather for each auction and non-traditional buyers are looking to temper their portfolios against the tumult of world financial markets. The combination resulted in final figures that were nothing short of remarkable.”

Directly illustrating the interest across the spectrum of types, a trio of diverse coins rounded out the top quartet of the auction. An 1893-S Morgan Silver Dollar, MS67 NGC, from the Norweb and Jack Lee Collections, and the highest-graded NGC-Certified specimen, took the second spot in the auction with a $546,250 price realized, giving collectors of the ever-popular Morgan Dollars something to cheer about. An 1863 $10 PR65 Deep Cameo PCGS, CAC, the sole finest at PCGS, charmed collectors into several rounds of intense bidding before finishing the auction $299,000 and an historic 1796 $2 1/2 No Stars MS61 PCGS, CAC, the finest that Heritage has offered in three years, realized $276,000.

Posted on August 24, 2011 at 1:50 pm in Uncategorized   |  RSS feed |   Reply   |   Trackback URL