Goldberg’s May Sales Total over $34 Million
On Monday, May 26th 2008, Ira and Larry Goldberg auctioned the Millennia Collection for a staggering $23,024,765. It was most likely the highest-realized auction of a single world collection in a single day. Many new records were set, with prices realized often tripling the estimate. There were over 1600 registered bidders, and the auction floor was standing-room only.
“It was an absolute event,” said Ira Goldberg. “This auction was the most important sale we have ever seen or held in our over fifty years of experience. It will surely rank among the most memorable of sales in the annals of numismatic history.”
Following the auction, the Goldberg firm traveled to the Long Beach Coin Show, where they interviewed many top bidders about the sale.
Rob Freeman, of Freeman & Sear, was a top bidder in the ancient session of the sale. “I’ve never seen such an auction that was so strong all across the board. These were coins of exceptional quality and rarity, the prices of which far exceeded anyone’s expectations.” He noted that the market was exceptionally good for ancient coins. Lot 19, an Alexander The Great Gold Distater in AU, realized $200,000, nearly four times the record price. Freeman had purchased it in 1995 for $20,000. “We were definitely caught up in the bidding, but my collector is very happy to have the coin.”
The highlight of the session was Lot 126, the finest of two known Severus Alexander Gold Aureus, with the Coliseum reverse, which set a new record when the hammer fell at $800,000. This is the most ever paid at auction for an ancient Roman gold coin. Other records were set, such as lot 90, realizing $390,000, a record for a Galba, Lot 96,which realized $180,000 the most paid for a Judea Capta coin, and Lot 55, a Bar Kokhba bronze EF, the most paid for a bronze coin at $115,000. Lot 75, a Gold Aureus of Brutus, realized an astounding $575,000.
“It was the holy grail of world coin auctions,” said Lance Tchor of Federal Coin and Bullion, a major bidder in the European and Latin American sessions. Though Tchor was approached several times to profit off of the lots he won, he states that he will keep the majority of his purchases for his personal collection. “It was the most fantastic sale I’ve ever been to. It had a lot more buzz and electricity than the Eliasberg Collection, by far. I was at both sales, and this was a higher echelon altogether. If Eliasberg was Macy’s, Millennia was Tiffany’s.”
Lot 306, a 1643 Charles I Triple Unite in Certified MS-62 realized an even $100,000. Lot 307, a 1644 Triple Unite in MS-61, realized $155,000. Lot 354, the 1703 “Vigo” Anne 5 Guinea, set a record price paid for a Guinea coin, when it realized $360,000. Lot 475 set a new record for the Una & Lion 5 Pound, realizing $77,500. Virtually all other European coins, including British hammered gold and the proofs, realized well over estimate. Lot 477, an Austrian Gold 7 Ducats, realized $550,000. Lot 710, a 100 Drachma of Greece, hammered at $190,000.
Bidders on the floor, phones, and internet competed heavily for Russian coins. Of special note were the record-breaking prices for Lots 802, a Peter I Novodel Ruble ($340,000), 808, a 1757 Silver Dassier Ruble ($170,000), 813, a gem proof 1835 Platinum 12 Rubles ($115,000), and Lot 815, an 1895 Pattern Gold 5 Rubles ($220,000).
Paul Karin stated, “As a Latin American specialist, I would have to go to over a hundred auctions over a twenty year period of time to hope to see a comparable number of high-quality, rare numismatic specimens.”
Coins of the New World closed the Millennia sale, beginning with coins of Africa, Asia, and Oceana.
Lot 878, the 1813 “Holey Dollar”, set a new record when it sold for $120,000. Lot 898, a 1771 Greenland Pillar Dollar, set a record for the highest price paid for not only a Pillar Dollar, but also for a milled coin, when it realized $155,000. Lot 887, a Kuping Gold Tael of 1906, brought $125,000, over twice estimate. Lot 909, the first round dollar of the orient, realized $115,000. Lot 918, an 1813 8 Escudos, brought $140,000, and lot 1058, an 1824 of Guatemala brought $145,000. Lot 940, a 1727 “Royal” 8 Reales of Bolivia, hammered at $105,000, and lot 1083, one from Mexico, 1714, realized $270,000. Lot 1073, the Discovery Dollar, realized $270,000, and lot 1125, an 1824 Mexico 8 Reales brought $105,000. Lot 1150, the Philip II 8 Reales and the first crown-size coin of South America, realized $240,000.
Noted collector Dr. Robert Hesselgesser, whose recent primary focus has been U.S. coins said, “I thought it was the most spectacular group of coins that I’ve seen… the quality was exceptional. I ended up buying a substantial number of the New World coins, and I think I will continue to collect them.”
The anonymous consignor of the Millennia collection said, “I couldn’t be more pleased with the results of the Millennia Sale. It was an event I was pleased to be associated with, and the Goldbergs can and should be proud of their results. Ira and Larry Goldberg are, if not the best, then certainly among the best auction firms in the world.”
A complete list of prices realized, as well as more details about the sale, can be found on www.goldbergcoins.com.
The Pre-Long Beach Sale was held on May 25 and 27-28 and featured The Ohringer Family Trust collection of U.S. Gold coins. The total price realized of the U.S. and World Sessions of this sale was $11,013,585.
Charlie Brown, of Certified Assets Management, and the top bidder in many U.S. Gold lots, had this to say. “We had an opportunity to look at and see very, very rare gold pieces that don’t come up in auction all of the time. We bought a lot and spent a lot of money, and were very enthusiastic about the quality of the coins. If we had to pay a little bit more, so be it – the coins were worth it!”
Brown states that he will be holding onto the coins for awhile and possibly be prepared to present them again at the World’s Fair of Money.
The World sessions of the Pre-Long Beach sale contained a large collection of coins and decorations from Mexico, German Hesse-Cassel Talers, European coins, and World Currency. Don Bailey, whose collection of medals did very well, said he was “very happy with the results.”
David Cassel said of his collection of Hesse-Cassel talers, “Virtually all of my auction lots sold. That was fantastic! The Goldbergs run a first-class business!”
Lot 1484, an 1845 Certified AU-58 Ecuador 8 Escudos, hammered at $62,500. Russian coins did very well. Lot 3082 , a1796 Albertus Ruble AU realized $46,000, and lot 3085, a Novodel Pattern Ruble of 1801 in EF went for $30,000, both roughly twice estimate. Bidders on the floor, phones, and internet competed for Philippines proof Pesos and sets. Lots 3014 ($11,500), 3018 ($24,000 ), and 3008 ($9,500) attracted roughly twenty bidders per lot.
World Currency was fairly strong, particularly China and Russian notes. In spite of the late hour, the session had nearly 50 bidders online, with another 20 on the floor. Lots 3293, 4, and 5 all realized well over estimate.
A complete list of prices realized, as well as more details about the sale, can be found on www.goldbergcoins.com.