An auction that was supposed to take place at Harrah’s in New Orleans, as part of the PCGS Members Only Show, was forced to become a webcast event held at Legend’s central New Jersey offices due to the ongoing Coronavirus global pandemic of 2020. Despite this change, results for quality coins, especially those graded by PCGS and accompanied by a CAC sticker, remained strong, showing continued resilience in the coin market. From the start of the sale, which began with the Blue Hill Collection of New Orleans Silver Dollars and Double Eagles, activity was strong.
Even before the sale opened for live bidding on the evening of Thursday, May 14, there was a record number of registrants for a sale of this size, (it was a smaller sale featuring just over 300 lots). Those that registered were intent on winning the coins they desired. The New Orleans silver dollars had such strength that it seems the dollar market might be recovering from the downturn in prices over the last six months, but only time will tell.
From the first lot, bidding was quite active. Though the 1854-O and 1856-O did not make their reserves, the other coins saw active bidding – including the 1879-O in particular – bringing a very strong bid from a very happy collector (it realized $82,250). Walking Liberty half dollars have again proven to be one of the strongest series right now, with high-grade examples and esoteric varieties seeing a large number of bidders vying to add coins to their sets. The top price realized for the sale, a wonderful 1909-O half eagle, PCGS MS63 with CAC sticker realized a very strong $114,563. Note: all prices reported include the 17.5% buyer’s premium.
“Interest in this sale started strong and remained that way throughout the close of the sale, as registrations and activity were high throughout the entire presale bidding and live bidding process,” said Matthew Bell, CEO of Legend Auctions. “We actually noticed a marked increase in people planning to follow the sale live, as we fielded seemingly non-stop phone calls throughout this past week from customers eagerly anticipating the live auction Thursday night.”
“The sale started off extremely strong,” echoed Laura Sperber, Founder of LRCA. “The Blue Hill silver dollars were already realizing strong prices after pre-bidding, and many saw those prices increase further during the live auction. We could not be happier with those results, and hope that they foreshadow renewed strength in the dollar market overall. Congratulations to the Blue Hill collector and all the new owners on an amazing night!”
Other highlights of the Blue Hill Collection include:
- Lot 2. $1 1850-O PCGS MS63 accompanied by CAC sticker, realized $30,550
- Lot 40. $20 1855-O PCGS XF45+ accompanied by CAC sticker, realized $42,300
- Lot 43. $20 1858-O PCGS AU55 Ex Eliasberg, realized $29,375
- Lot 47 $20 1879-O PCGS AU53 accompanied by CAC sticker, realized $82,250
The other anchor collection offered in Regency Auction 38 was the Ogden Avenue Ladies Collection of Proof Liberty Nickels, which ranked #3 on the PCGS Set Registry. The high-grade and carefully selected pieces saw very active bidding. The third major collection of Proof Liberty nickels LRCA has sold in the last 12 months, the market warmly welcomed the coins, and they brought generally healthy prices across the board.
Highlights of the Ogden Avenue Ladies Collection, include:
- Lot 70. 5C 1883 With Cents. PCGS PR67+CAM accompanied by CAC sticker, realized $9,988
- Lot 88. 5C 1901 PCGS PR67+CAM accompanied by CAC sticker, realized $4,700
- Lot 93. 5C 1906 PCGS PR67CAM accompanied by CAC sticker, realized $4,348
- Lot 99. 5C 1912 PCGS PR67CAM accompanied by CAC sticker, realized $8,519
Other highlights include:
- Lot 51. 1C 1865 Fancy 5. PCGS MS66+RD accompanied by CAC sticker, realized $17,038
- Lot 109. 5C 1918/7-D PCGS MS64+ accompanied by CAC sticker, realized $99,875
- Lot 113. 5C 1925-D PCGS MS66+ accompanied by CAC sticker, realized $34,075
- Lot 136. 20C 1875-CC PCGS MS65+ accompanied by CAC sticker, realized $21,738
- Lot 169. 50C 1859-S PCGS MS65 accompanied by CAC sticker, realized $8,813
- Lot 178. 50C 1918-S PCGS MS65 accompanied by CAC sticker, realized $30,550
- Lot 185. 50C 1929-D PCGS MS67 accompanied by CAC sticker, realized $64,625
- Lot 222. $1 1871-CC PCGS XF45, realized $17,038
- Lot 240. $1 1881-S PCGS MS65 accompanied by CAC sticker, realized $6,756
- Lot 251. $1 1887 PCGS MS65DMPL accompanied by CAC sticker, realized $2,468
- Lot 286. $5 1909-O PCGS MS63 accompanied by CAC sticker, realized $114,563
Legend Rare Coin Auctions’ next auction is being held on Thursday, July 16, 2020, in a sale slated to be held in Las Vegas as the official auction of the PCGS Members Only Show. Featuring the BigMo Civil War Collection, the Incline Collection of Jefferson Nickels, and the Roadrunner Collection of Toned Dollars, Part 1, Regency Auction 39 is open for consignments until June 1. For more information about consigning, call 732-935-1168 or email [email protected]
Legend Rare Coin Auctions is a boutique numismatic auction company specializing in the finest and rarest U.S. coins. Founded in 2012 by Laura Sperber, the owner and president of Legend Numismatics, the premier rare coin retail firm. LRCA was, from the outset designed to be a different kind of rare coin auction firm. LRCA’s staff of numismatic auction industry veterans includes Julie Abrams, president; Greg Cohen, senior numismatist; and Jessica Berkman, consignment coordinator. The firm’s Regency Auctions serve as the official auction for the PCGS Members’ Shows, held six times per year. Since its founding, LRCA has sold many important collections, resulting in world-record prices, including the Coronet Collection of Morgan Dollars (#1 all-time PCGS set); the David Hall—Bob Simpson Collection of Liberty Head Eagles; the Sunnywood-Simpson Collection of Morgan Dollars; the Phil Flannagan Collection of Territorial Gold, Toned Dollars, and 1795 coins; duplicates from the Gerald Forsythe Collections of Buffalo Nickels and Mercury Dimes; the Bob Simpson Collection of Standard Silver Patterns; the Northern Lights Collection of Monster Toned Morgan Dollars; the Crow River Collections of Indian Head $10s and Peace Dollars; the P.F.M Collection (former #6 PCGS Set of Morgan Dollars with varieties); the Oak Crest Collection of Carson City $5 gold; the Konstantine Collection of Capped Bust Half Dollars, the #1 PCGS Set of Red Book varieties, 1807-1836. The firm’s impressive record also includes setting over 120 world record prices in 2019. The firm also had the second-highest realizing auction lot of 2016 with the sale of Bob Simpson’s duplicate 1879 $20 “Quintuple Stella,” which realized $1,880,000. To consign to an upcoming auction, visit www.legendauctions.com and contact a consignment specialist today.