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Pan-Pac $50s hot in Heritage auction

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A couple of Panama-Pacific $50s and a 1907 no periods Saint-Gaudens $10 gold piece topped Heritage Auction Galleries‘ U.S. coin sales at Long Beach May 31-June 3.

Heritage held several auctions of U.S. and world material at the Long Beach Coin, Stamp & Collectible Expo, altogether earning a total of $19 million.

The U.S. coin auctions alone realized $13,552,202. Heritage’s world coin auctions realized $4.5 million at Long Beach, and a related online session June 5 brought nearly $1 million. After-auction sales continued as this was written.

All prices reported here include buyer?s fees.

The 1915-S Pan-Pac $50s, an octagonal and a round version, both graded MS-65 by Numismatic Guaranty Corp., sold for $115,000 and $109,250, respectively.

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The 1907 no periods $10, graded MS-68 by Professional Coin Grading Service, brought $161,000. As of April, it was the single finest example that had been graded by PCGS, sale catalogers wrote. Last year Heritage sold two examples graded MS-67.

An 1892 $20 Liberty, graded NGC Proof-65 Cameo, realized $97,750. Mintage of 1892 proof double eagles was only 93 pieces.

The only silver coin among this sale?s top 10 price realizations was an 1892-S Morgan dollar, PCGS MS-64, that went for $97,750. The 1892-S is tough in Mint State grades, according to catalogers, despite the 1.2 million piece mintage.

A matte proof 1912 $20, NGC Proof-67, brought $86,250.

Realizing $83,375 was a 1795 $10, 13 leaves variety, graded NGC AU-58. From Carson City, an 1890-CC $10, PCGS MS-64, reached $80,500.

A third Pan-Pac $50, this one an octagonal example graded NGC MS-63, realized $78,200.

$74,750 was paid for a 1908-D $5, PCGS MS-65, concluding the top 10 highlights.

“This is the hottest coin market in decades, with record price after record price being set at auction,” said Greg Rohan, president of Heritage. “Sellers are seeing fabulous returns on their investments, while buyers are being treated to fresh coins entering the marketplace after being held in private collections for decades. It’s a great time to be a numismatist, and the market seems to increase with every successive offering,”

Images, descriptions and prices realized are available in the Permanent Auction Archives section of the Heritage Web site, www.HeritageAuctions.com. Heritage’s next major U.S. coin auction is scheduled for July 17-20 at the company’s headquarters in Dallas, Texas. Its next major world coin offering will be Sept. 13-16, 2006, at Long Beach.

For more information, contact Heritage Auction Galleries, 3500 Maple Avenue, 17th Floor, Dallas, TX 75219; phone (800) 872-6467.

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