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Rarities bring fabulous prices for Legend

Taking top honors in the auction was this 1795 $10 gold piece, graded MS64+ by PCGS. Winning bid was $822,500. (Images courtesy Legend Rare Coin Auctions)

In a fantastic sale featuring 497 hand-selected coins from several amazing cabinets, Legend Rare Coin Auctions’ 32nd Regency Auction set many records, as an extremely active room and internet bidding drove prices up. Held in conjunction with the PCGS Members Show at the Cosmopolitan Hotel in Las Vegas, The Grand Prix, Young-Dakota, Intense Cameo, and Prospect Collections attracted a great deal of attention and created quite a buzz in the market. This culminated in a highly successful auction event, again proving that smaller-sized auctions can bring out the best buyers. A record number of people viewed the auction online and in person at the event.

The highlight of the sale, garnering the highest bid in the auction, was the fresh to market, totally original 1795 $10 gold piece, graded MS64+ by PCGS and endorsed by CAC. Realizing a record for the grade, it took $822,500 to bring this price home. All prices include a 17.5% buyer’s premium.

Silver dollars continued to dominate bidding activity with the Young-Dakota 1893-CC Branch Mint proof Morgan dollar realizing a very strong $305,500; the sole finest 1891-O in PCGS MS66 realizing $108,688; and the tied for finest known 1927-D Peace dollar in PCGS MS66+ CAC bringing a record $176,250 (well in excess of double the original estimate of $75,000)!

“Superb collections of high-end quality coins, presented in our boutique auction venue, have proven time and again to bring incredibly high (often record) prices,” said Julie Abrams, president of Legend Auctions. “Looking at the presale estimates and comparing the overall results show that even if there was some softness in areas, the end result was very successful! The sale shows that the market is finally coming to life, and collectors are becoming more active, bidding aggressively in many cases. There are still some areas that are depressed, but overall, we were surprised in many cases with the runaway prices.”

A Young-Dakota 1893-CC Branch Mint proof Morgan dollar realized $305,500. (Images courtesy Legend Rare Coin Auctions)

“There is such a lack of coins that when great, fresh, coins like these come out, there are no accurate pricing guides. I was stunned at how many coins simply ran away with multiple aggressive bidders participating,” said Laura Sperber. “Demand for the very finest coins is ultra-strong; there were four very active bidders on the 1927-D Peace Dollar in MS66+ over $100,000! In the end, 90% of the coins sold went to collectors.”

“It was not just headline-capturing five- and six-figure coins that caught the eye of collectors,” added Greg Cohen, the firm’s senior numismatist. “Fresh, attractively toned coins far exceeded expectations, realizing record prices as well. No matter what the price point, there is no substitute for quality!”

Julie Abrams continued, “Prices were strong across the board; just take a look at these highlights!”

• Lot 8, 1C 1794 S-32, Head of 1794. PCGS MS66 BN, realized $152,750.
• Lot 36, 1C 1911 PCGS MS66 BN Gold CAC, realized $3,290 after a short bidding war between online bidders.
• Lot 91, 5C 1916 PCGS PR68, from the Grand Prix Collection, realized $30,550.
• Lot 113, 5C 1945-P Doubled Die Reverse, PCGS MS66 FS, realized $11,750.
• Lot 148, 10C 1923 PCGS MS68+ FB CAC, realized $47,000, a world record for the date, and well above the $18,000 estimate.
• Lot 159, 10C 1940 PCGS MS68+ FB CAC, realized $35,250, against an estimate of $8,000 – another record shattered.
• Lot 186, 50C 1794 PCGS AU53 CAC, realized $129,500.
• Lot 217, 50C 1919 PCGS MS65, from the Grand Prix Collection, realized $31,725
• Lot 264, 25C 1909 PCGS PR68+ CAC, from the Young-Dakota Collection, realized $29,375, well above the $18,000 estimate.
• Lot 270, $1 1893-CC Branch Mint proof, PCGS PR65+ CAC, from the Young-Dakota Collection, realized $305,500.
• Lot 273, Original, matched Gem 1859 Proof Set, from the Young-Dakota Collection, realized $70,500.
• Lot 283,. 5C 1910 PCGS PR67+ DCAM CAC, from the Intense Cameo Collection, realized $27,025.
• Lot 284, 20C 1875 PCGS PR66 CAM CAC, from the Intense Cameo Collection, realized $34,075.
• Lot 297, T$1 1882 Trade, PCGS PR66+ DCAM, from the Intense Cameo Collection, realized $44,650 on a $25,000 estimate.
• Lot 303, $1 1801 PCGS MS63 CAC, realized $96,938.
• Lot 350, $1 1891-O PCGS MS66, the single finest of the date, realized $108,688, a record price.
• Lot 372, $1 1927-D PCGS MS66+ CAC, realized a record $176,250 – over $100,000 above the estimate.
• Lot 392, $2.50 1847-O PCGS MS64 CAC, realized $38,775.
• Lot 422, $10 1795 13 Leaves, PCGS MS64+ CAC, realized $822,500, a record for the grade and similar in price to several MS65s sold in auction.
• Lot 476, 25C 1893 Isabella, PCGS MS67+ CAC, realized $16,450,
• Lot 484, 50C 1920 Maine, PCGS MS67+ CAC, realized $9,106.

For complete auction results, visit the Legend Rare Coin Auctions website at www.legendauctions.com.

 

This article was originally printed in Numismatic News. >> Subscribe today.

 


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