DALLAS, TX.- A Meiji gold Proof 20 Yen Year 3 took top lot honors when it sold for $470,000 in Heritage Auctions' five day numismatic auctions held in conjunction with the American Numismatic Association (ANA) Convention in Denver. The Aug. 2-6 event realized $30,809,780 across U.S. coins, World & Ancient coins and U.S. currency.
“U.S., World & Ancient coins and currency auctions were nearly completely sold-out," said Greg Rohan, President of
Heritage Auctions. “Sell-through rates by value and by lot reached 99 percent and more than $7.1 million in winning bids came from floor bidders at the event."
World & Ancient Coins
Values for World & Ancient coins far exceeded estimates as the Meiji gold Proof 20 Yen Year 3 which was part of an 1870 and 1871 proof set, realized the highest sale price ever paid for a Japanese coin sold in America when it realized $470,00. The set in total realized $793,125.
Two rare coins from Great Britain drew intense bidder interest: an 1826 George IV gold Proof 5 Pounds sold for $305,500 and a 1701 William III gold "Fine Work" 5 Guineas hammered for $188,000. Both of these coins set world records for their respective types.
Bidding for Ancient Coins included big gains as a Croesus Heavy Stater, graded NGC MS ? 5/5 - 5/5 sold for $129,250. The specimen was an outstanding example of what justifiably can be termed the “world's first gold coinage." The example with an elusive “star" designation is among the finest specimens known to exist.
Overall, the category sold 442 lots for a total of $7,115,036, with an average price realized per lot over $16,000; an outstanding feat for any world and ancient coin auction. Successful bidders represented 27 countries and nearly half the lots in the sale were bought by international clients, underscoring Heritage's international presence.
U.S. Coins
Two of the rarest U.S. coins ever discovered combined to sell for nearly $500,000 at a public auction held in conjunction with the world's largest coin show.
A newly-discovered 1943 Lincoln penny shot to $282,000 because it was made of the wrong material, and a 1792 Penny — lost for 130 years — sold for $211,500.
The Lincoln penny is coveted because it was supposed to be made of zinc-coated steel due to copper shortages during World War II, but it was erroneously made of bronze left over from 1942. One of the few 1792 cents known to exist, research by the auction house revealed the cent to be a long-lost Birch Cent not seen since an auction in 1890. Coins like this one are referred to as “Birch cents" because the name of the engraver is struck on the coin. This particular coin, which recently was rediscovered in Europe, once belonged to famed collector Lorin G. Parmelee, who sold it at auction in 1890 for just $75.
“This was the first time these particular coins were ever offered at auction and collectors were not going to let them get away," said Jim Halperin, co-founder of Heritage Auctions, which offered the pennies at its auction held during the World's Fair of Money. “There are each just 10 to 15 of these cents known to exist."
U.S. Currency
In the ANA event's Platinum Currency Auction saw four bidders competed to own an 1882 $1,000 Gold Certificate, PCGS Very Fine 35, which soared to $270,250. An 1869 $50 Legal Tender, PCGS Very Fine 35 — a wide-margined rainbow from the Yuri Solovey Collection — sold for $76,375.
An extraordinary 1863 420 Interest Bearing Note, PCGS Very Fine 35 on offer was tied for the second finest known specimen known to exist. Positively brimming with eye appeal on bright paper and a boldly matching red seal, date and serial number, the note sold for $64,625.
