U.S. & World Coin News and Articles
Vegas bound: Legend-Morphy's Regency Auction III slated for April 11 at PCGS Members Only Show
Headliners: Gerry Forsythe Mercury Dime Duplicate Collection, Marshall CC Morgan Dollar Collection
LAS VEGAS – The Legend-Morphy team is once again off to Las Vegas to conduct a world-class rare coin auction in association with the PCGS Members Only Show. The Thursday, April 11 event at The Bellagio features 315 lots of carefully selected, top-class coins whose rarity and provenance are sure to please even the most discriminating collector.
Legend-Morphy President, Julie Abrams, said the April 11 auction – which will be the company's third Las Vegas sale held under the Regency banner – contains the most exciting lineup of coins they've ever presented.
"Two major consignments lead this sale – the Gerry Forsythe Mercury Dime Duplicate Collection, which is the all-time finest registry set; and the Marshall CC Morgan Dollar Collection. We're honored that we were entrusted with these collections. Both are very highly regarded in the upper echelons of coin collecting," said Abrams.
10c 1920-D PCGS MS67+ FB, THE FORSYTHE MERCURY DIME DUPLICATES, est. $40,000. Legend-Morphy image.
Leading the Forsythe Mercury Dime Duplicates is a 1920-D PCGS MS67+ FB. After more than 25 years of operation, PCGS has only graded two MS67+ dimes. The other 1920-D sold last year for $43,125, which more than justifies the $40,000+ estimate on the example in Legend-Morphy's upcoming sale.
The Marshall Carson City Collection includes exquisite rarities, like the 1879-CC PCGS MS66 Jack Lee 1 / Jack Lee 2 that "simply could not be improved upon, even with the incredible resources and connections Mr. Lee had available to him," Abrams said. Legend sold the coin into the Marshall Collection in 2000 for $100,000, and since that time neither it nor the other example graded by PCGS has ever appeared at auction. Although the current CU price for the coin is $115,000, Legend-Morphy co-owner Laura Sperber notes in the catalog description that the Jack Lee could easily bring "moon money."
A $1 1878-CC PCGS MS67 Jack Lee 2 from the Marshall Collection was carefully stored for more than 135 years, explaining its pristine satiny surfaces that are completely devoid of any imperfections, even when viewed under a strong glass. It is entered in the auction with a $37,500+ estimate and is expected to attract strong bidding. There are 24 other superior-quality CC Morgan Silver Dollars in the sale – a surprisingly high number by anyone's standards.
5c 1916/1916 Doubled Die Obverse PCGS Secure MS63, est. $160,000+. Legend-Morphy image.
Peace Dollar collectors who settle for nothing less than major wow factor will find what they're seeking in the sale's 1934-S PCGS MS66. Its shimmering mirrors and remarkable full strikes render a striking 3-D quality to the coin, which is expected to bring at least $27,500 at auction.
The highest-estimated coin in the sale is a 5C 1916/1916 Doubled Die Obverse PCGS Secure MS63. This super high-end coin has remarkably clean, smooth surfaces with a strong, beaming luster. The doubled date is clearly visible to the naked eye. This highly desirable buffalo nickel last appeared at auction in 2005, when it sold for $161,000. Sperber says it "absolutely rivals any MS64" and is worth $160,000-$180,000.
1/2c 1793 PCGS VF25, est. $12,500+. Legend-Morphy image.
With an estimate of $17,500, a $20 1852-O PCGS AU58 retains its original gold color with light toning. Miss Liberty and the coin's other details are exceptionally well struck and traces of semi-prooflike mirrors can be easily detected around the devices on both sides. There are always more buyers than there are sellers for gold coins of this age and quality, and like a number of other coins in the auction, this one is being offered without reserve, making it all the more appealing.
Coins of unusual or fractional denomination are always in demand. Two examples in the April 11 sale that are worthy of special note are a 1/2C 1793 PCGS VF25, estimate $12,500+; and a 3CS 1857 PCGS Secure MS66 EX Simpson. The latter coin is a marvelous duplicate from the all-time finest MS 3CS set, with absolutely flawless surfaces and a strong luster. "Every detail has a pinpoint sharp strike, and the eye appeal is fabulous," said Sperber. "I cannot stress enough how extremely rare GEM TYII pieces are. There will never be a better opportunity to acquire a coin like this." It is estimated at $7,500+.
3cS 1857 PCGS Secure MS66 EX SIMPSON, est. $7,500+. Legend-Morphy image.
Other auction highlights include:
· 50C 1898 PCGS PR67+ CAMEO, EST: $15,000+
· 25C 1932-D PCGS Secure MS65, EST: $12,000+
· 50C 1795 VF35, EST: $5,500-$6,000
The Thursday, April 11, 2013 Regency Auction III at the PCGS Members Only Show will commence at 6 p.m. Pacific Time in the Donatello Room #2 at The Bellagio, 3600 S. Las Vegas Blvd., Las Vegas, NV 89109. Additional bidding methods include absentee, phone and absentee/live via the Internet through the Legend-Morphy website, www.legendmorphy.com.
The preview will be held in The Bellagio's Raphael Room #2. Table holders may preview all coins on Wednesday, April 10 from 11 a.m.-6 p.m. and Thursday, April 11 from 8 a.m.-5 p.m. Legend-Morphy auction registrants, PCGS authorized dealers and Collector Club members may preview on Wednesday from 1-6 p.m. and on Thursday from 10 a.m.-5 p.m.
Preliminary lot viewing will also be available by appointment only at Legend-Morphy's Denver, PA office (45 minutes from Philadelphia) between March 25 and April 3. Call 717-335-3435 to schedule an appointment.
For more information on any lot in the sale, call Julie Abrams at 717-598-3743, e-mail [email protected], or you can reach Legend-Morphy on Twitter at twitter.com/LegendMorphy and on Facebook at facebook.com/LegendMorphy. View the fully illustrated catalog online at www.legendmorphy.com.
50c 1898 PCGS PR67+ Cameo, est. $15,000+. Legend-Morphy image.
$1 1878-CC PCGS MS67 Jack Lee 2, MARSHALL CC COLLECTION, est. $37,500. Legend-Morphy image.
$1 1879-CC PCGS MS66 Jack Lee 1/Jack Lee 2, MARSHALL CC COLLECTION, est. $100,000+. Legend-Morphy image.
$1 1934-S PCGS MS66, est. $27,500+. Legend-Morphy image.
$20 1852-O PCGS AU58, est. $17,500+. Legend-Morphy image.