Gold treasure from the 1857 wreck of the S.S. Central America highlighted Legend Rare Coin Auctions’ Regency Auction 29.
A $10 Liberty Head gold piece dated 1857-S and graded MS64 by the Professional Coin Grading Service with a Certified Acceptance Corporation sticker sold for $76,375.
There were many other coins that sold for strong prices. It was clear that the market wants only fresh or super quality pieces and will pay up for them every time, said Laura Sperber, founder of LRCA.
“I was sweating out as to what direction this sale was going take. It wasn’t until the very last minute that collectors began appearing and really putting in strong numbers on the better coins. Right now, it is all about quality,” she explained.
More than 90 percent of the sales were to collectors.
In a choppy market, Sperber analyzed the sale this way:
Marginal, non-CAC coins sold cheap. Coins with the CAC sticker and/or were fresh (like the commemoratives) sold strong. When the right coins were offered that were PCGS CAC and of the highest quality, prices were strong to near record breaking. Overall, the coin market is really two tiered. Anything less than 100 percent and it simply will not bring a full price.
Sperber noted that in many cases there were multiple bidders per lot.
Other gold coins bringing strong prices included:
- $2.50 1909 PCGS PR65 CAC: $88,125
- $3 1888 PCGS PR66+ CAC: $67,563
- $5 1795 PCGS MS62 CAC: $176,250
- $5 1811 PCGS MS64 CAC: $52,875
- $20 1906 PCGS MS66: $64,625
Two silver dollar rarities brought headline-grabbing prices:
- $1 1889-CC PCGS MS63 DMPL CAC: $73,438
- $1 1924-S PCGS MS65 CAC: $17,038
Legend Rare Coin Auctions’ first stand-alone sale will be held Jan. 27, 2019, in Beverly Hills, Calif.
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