With the uncertainty and chaos that the current COVID-19 global pandemic is bringing to the markets and people’s everyday lives, numismatics seems to be providing a safe haven and comfort to collectors all over.
Legend Rare Coin Auctions’ 37th Regency Auction, which closed on March 26, was scheduled to take place at Le Meridien in Philadelphia. Two weeks prior to the sale, with various orders from different entities, federal, state and local, Legend made the decision to hold the auction in the firm’s New Jersey offices, as a live, webcast-only auction, with no floor bidders. Unsure how the situation would play out, email reminders were sent out daily to bidders. Every effort was made to ensure that people who could not come to the office to view the coins were able to see them as close to in-hand as possible. Thanks to modern technology, text messaging, videos or utilizing Facetime, this is easier now than ever before.
In the end, these efforts paid off, as a record number of online bidders registered to participate in the auction. This proved, yet again, that the demand for rare coins from collectors is deep, and despite the uncertain times, this demand can be insatiable when the coins are fresh and high quality.
Anchoring the auction was the extensive Seattle Collection. Assembled by a dedicated collector over the course of the last two decades, the collection featured complete sets of Mint State 2-cent, 3-cent silvers, 3-cent nickels, Liberty and Shield nickels, and related patterns. From the outset, bidding for these coins was intense, actively bid on by hundreds of different bidders from across the country. Strong prices were realized across the board, with the 1884 3-cent nickel graded PCGS MS-66 CAC (Lot 58) realizing a world record price of $42,300 and the 1870 Shield nickel, also graded PCGS MS-66 CAC (Lot 69), realizing a world record price of $10,281. All told, the Seattle Collection realized over $504,000.
“Numismatics is the world’s greatest hobby!” exclaimed Laura Sperber, founder of Legend Rare Coin Auctions, after the auction. “Even in times of global crisis, collectors find comfort in collecting. Paper assets, are just that,” she continued, “but tangible assets offer something more than just a store of value. From collector oriented series like the Seattle Collection to Pan-Pac $50 slugs, every area saw quite a bit of action.”
“Tonight was a great night for Legend Auctions, not just because we had another successful sale,” echoed Matthew Bell, CEO of LRCA, “but also because it showed what this community is capable of. We have always prided ourselves on having the best customer and consignor relationships in all of numismatics, and we proved that with this auction. We want to thank everyone who participated in Regency 37 for helping make tonight a success.”
While the entire sale displayed strength given the current situation, there are a number of lots that really do stand out and include the following highlights and their prices realized:
Lot 1: 2 cents, 1864 Large Motto, PCGS MS-65 RD CAC: $2,291.25
Lot 36: 3 cents, 1872, PCGS MS-66+ CAC: $19,975
Lot 57: 3 cents, 1883, PCGS MS-65 CAC: $12,337.50
Lot 58: 3 cents, 1884, PCGS MS-66 CAC: $42,300
Lot 69: 5 cents, 1870, PCGS MS-66 CAC: $10,281.25
Lot 235: 5 cents, 1914, PCGS PR-68: $17,625
Lot 319: 50 cents, 1942, PCGS MS-68: $18,800
Lot 321: 50 cents, 1942-D, PCGS MS-68: $21,737.50
Lot 372: $1, 1935-S, PCGS MS-66+ CAC: $9,693.75
Lot 386: $50, 1915-S Panama-Pacific Round, PCGS MS-64 CAC: $114,562.50
Lot 391: gold $1, 1889, PCGS MS-68+ CAC: $24,675
Lot 398: $5, 1834 Classic, Plain “4,” PCGS MS-64+ CAC: $37,600
Lot 422: 50 cents, 1921 Pilgrim, PCGS MS-67+ CAC: $7,050
Legend Auctions’ Regency Auction 38 will be anchored by the Blue Hill New Orleans Silver Dollar and Twenty Collections, the BigMo Civil War Set, Part I and the Ogden Avenue Ladies collection of Proof Liberty Nickels.
For full auction results, visit the Legend Rare Coins website. For information on consigning to future auctions, email firstname.lastname@example.org, or call (732) 935-1168.