February 10, 2014
February 10, 2014, Irvine, California – GreatCollections set a new company record yesterday with total sales of $1,283,901. The Paterson Collection of U.S. Type coins represented $665,599 of the total, which attracted record bidding and exceeded our pre-auction estimates.
"The coin market is strong, as evidenced by the spirited bidding and final prices realized. The star of the auction was the No Stars 1796 Quarter Eagle, which received 83 bids and finally sold for $112,200" said Ian Russell, President/founder of GreatCollections.
Only 963 coins were minted of the rare No Stars 1796 Quarter Eagle and of that, only about 100 are estimated to exist today. The last example in the same grade sold at public auction for $77,625 in 2009.
Another highlight was the 1799 Capped Bust Gold Eagle, graded PCGS AU53. 62 bids were placed with the final price being $25,025, exceeding the PCGS Price Guide value by over 10%.
Russell continued: "A personal favorite from the collection was the 1836 Gobrecht Dollar, graded PCGS MS62+. While not the highest grade of this issue, the coin was attractive and sold for $32,450."
Dr. Spencer Paterson has had an interest in coins his whole life and has put together a number of collections in different areas of numismatics. This type set was mostly acquired over the past decade.
"As the major consignor to this record-setting auction, Dr. Paterson was attracted by our personal service and extensive marketing plan. He opted for our company because we can focus on coins worth $5,000, $10,000 or $25,000, where at some auction houses they would be lost in a phonebook-sized catalog."
To view the full prices realized and images of the Paterson Collection, please visit www.greatcollections.com or telephone 1-800-44-COINS.
Highlights from the Dr. Spencer Paterson Collection
GreatCollections is an auction and direct sale venue for certified coins. GreatCollections handles each coin transaction from start to finish. For sellers, GreatCollections offers professional imaging for each coin, cash advances as appropriate, and other individualized services generally not available with the large auction houses and other websites, freeing the seller to do nothing except collect the proceeds of the sale. Buyers benefit by entrusting a venue whose principals have years of coin experience and whose reputations in the industry are impeccable.