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Legend acquires type set

This article was originally printed in Numismatic News.
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Legend Numismatics of Lincroft, N.J. announced March 24 that it has purchased a partial type set that has been off the market for many years. The set contains a number of rarities including the famous Mickley 1793 “AMERI.” Chain cent.

Graded Specimen 65 by Professional Coin Grading Service, this example is the finest “AMERI.” Chain cent ever graded by PCGS and is valued at more than $2 million, according to Legend.

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2011 Coin Digest: Cents

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Other highlights are a run of some of the finest-known proof Morgan dollars including a 1893 Morgan dollar in Proof-69 DCAM; an 1836 Gobrecht dollar in PCGS Proof-66, the finest graded at PCGS; an 1856 Flying Eagle cent in Proof 67; and several proof gold pieces.

“The circumstances of this purchase were extraordinary,” said Laura Sperber, Legend Numismatics partner. “The owner of the coins was a neighbor of one of the Legend partners, Bruce Morelan. Bruce discovered the extent of his neighbor’s collection completely by accident. It turned out to be a lucky coincidence for everyone involved.

“Legend has known about most of these coins for years and we have always had an interest in owning them. The negotiations were short and the collection was purchased outright for several million dollars.”

“The pedigree of the Mickley chain cent includes many famous collectors and dealers such as Edward Cogan, W. Elliot Woodward, Lorin Parmelee, Virgil Brand, Harold Bareford, Herman Halperin, R.E. Naftzger and several others,” said Don Willis, president of PCGS. “The superb condition that the coin remains in today is a testament to the great care all of these individuals exercised over the years.”

The coins can be viewed on Legend’s website, www.legendcoins.com.

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