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Record-Setting Chinese Rarities Top $9.6 Million Heritage CICF Auction

Records also set for coins from Hungary, Cuba; Auction totals doubled from 2010 prices realized

DALLAS, Tex. (April 28, 2011) — A 1928 Chinese “Auto Dollar” Year 17 KM-Y428, L&M-609, AU58 PCGS brought $74,750 — a record price for the type — as the top lot in Heritage Auctions‘ $9.6+ million April 14-18 Rosemont, IL Signature® World & Ancient Coins Auction, held in conjunction with the Chicago International Coin Fair, an auction dominated by record prices on Chinese rarities. All prices include 15% Buyer’s Premium.

[description]The total prices realized are nearly double the total realized at CICF 2010, and translate into an overall sell-through rate of 94% by value and 97% by lot totals.

“These results point to the continuing overall strength of the world and ancient coin market,” said Cristiano Bierrenbach, Vice President of International Numismatics at Heritage. “We worked closely with Gemini auctions on the very successful, $3.3 million dollar ancient coin session on Thursday, April 14, and the World Coin session on Friday and Saturday, April 15-16, were both a huge success with prices realized 30% higher than our most optimistic pre-auction estimates.”

The auction was staged in conjunction with Krause Publications, the producers of CICF, and publisher of World Coin News and Numismatic News, among other hobby publications.

“It was also a pleasure to work with Publisher Scott Tappa and the rest of the Krause crew,” said Bierrenbach. “Our partnership since 2010 has turned the CICF show around and put Chicago back on the map for world and ancient coins. We at Heritage look forward to many more years and auctions at the CICF.”

Besides the record price realized on the 1928 Chinese “Auto Dollar,” record prices were also realized on two more Chinese rarities: a 1914 Chinese Republic Dollar KM-Y322, L&M-858, MS67 NGC, a spectacular example of a very common coin, brought $51,750 amidst spirited bidding, while a 1922 Hunan Dollar Year 11 KM-Y404, L&M-867, MS65 NGC, a superb example of this Provincial Constitution commemorative, matched that same $51,750.

[description] Further world record prices were realized on a 1907 Hungarian Franz Joseph II gold 100 Korona, KM490, Proof 65, with provenance from the Eliasberg Collection NGC – one of the nicest examples of this impressive gold commemorative marking the 40th anniversary of the coronation of Franz Joseph II that Heritage has seen – which brought $25,300, while a 1915 Cuban Republic Peso, KM15.2, MS63 PCGS, went home with an advanced collector to the tune of $20,700.

A 1931 South Africa Proof Set of George V silver & bronze coins, 8 pieces, KM-PS6 , from a mintage of 62 sets, each coin certified by PCGS, brought $48,875 from a determined bidder, while a Brazil Joao V gold 3200 Reis 1749R, KM155, Fr-47, MS65 NGC, the highest condition specimen of all 3200 Reis in existence, settled at $46,000 and a Spanish Joseph Napoleon gold 320 Reales 1810-RS, Cay-14730, KM545, AU55 NGC, ex-Millennia Collection, displaying a rare portrait of Joseph, Napoleon’s older brother, which realized $33,350.

Further highlights include, but a certainly not limited to:

Dominican Republic, Republic silver-plated Copper Pattern 10 Reales 1855, KM-Pn1 (silver), Proof 63 NGC : Realized: $29,900.

Great Britain, Victoria Gothic Crown 1853, S3884, KM744, Septimo edge, PR63 Cameo PCGS : Realized: $28,750.

Russia, Catherine I Novodel copper Grivennik 1726, Crowned Imperial eagle/Crowned monogram, Brekke 33, Diakov N2, IT 25 Rubles, edge lettering incuse, MS63 Brown NGC : Realized: $23,000.

India, William IIII gold 2 Mohurs 1835(C), KM452.1, PL65 PCGS : Realized: $18,400.

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