Fabulous Rarities Bring Fabulous Prices in Fabulous Las Vegas
(Lincroft, NJ March 22, 2019) — 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 the Internet 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 lots of attention and created quite a buzz in the market. This culminated in a highly successful auction event, again proving that the smaller-sized auctions bring out the best buyers. A record number of people viewed the sale 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 MS-64+ 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 MS-66, realizing $108,688; and the tied-for-finest known 1927-D Peace dollar in MS-66+ 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 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.”
“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 MS-66+ 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. MS-66 BN, realized $152,750.
Lot 36: 1C 1911 MS-66 BN gold CAC, realized $3,290 after a short bidding war between online bidders.
Lot 91: 5C 1916 PR-68, from the Grand Prix Collection, realized $30,550.
Lot 113: 5C 1945-P Doubled Die Reverse. MS-66 FS realized $11,750.
Lot 148: 10C 1923 MS-68+ FB CAC, realized $47,000, a world record for the date, and well above the $18,000 estimate.
Lot 159: 10C 1940 MS-68+ FB CAC, realized 35,250, against an estimate of $8,000 — another record shattered.
Lot 186: 50C 1794 AU-53 CAC, realized $129,500.
Lot 217: 50C 1919 MS-65, from the Grand Prix Collection, realized $31,725.
Lot 264: 25C 1909 PR-68+ CAC, from the Young-Dakota Collection, realized $29,375, well above the $18,000 estimate.
Lot 270: $1 1893-CC Branch Mint Proof. PR-65+ 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 PR-67+ DCAM CAC, from the Intense Cameo Collection, realized $27,025.
Lot 284: 20C 1875 PR-66 CAM CAC, from the Intense Cameo Collection, realized $34,075.
Lot 297: T$1 1882 Trade. PR-66+ DCAM, from the Intense Cameo Collection, realized $44,650 on a $25,000 estimate.
Lot 303: $1 1801 MS-63 CAC, realized $96,938.
Lot 350: $1 1891-O MS-66, the single finest of the date, realized $108,688, a record price.
Lot 372: $1 1927-D MS-66+ CAC realized a record $176,250 — over $100,000 above the estimate!
Lot 392: $2.50 1847-O MS-64 CAC, realized $38,775.
Lot 422: $10 1795 13 Leaves. MS-64+ CAC, realized $822,500, a record for the grade, and similar in price to several MS-65s sold in auction.
Lot 476: 25C 1893 Isabella. MS-67+ CAC, realized $16,450.
Lot 484: 50C 1920 Maine. MS-67+ CAC, realized $9,106.
To see complete auction results, visit the website of Legend Rare Coin Auctions.
Legend Rare Coin Auctions is a boutique numismatic auction company specializing in some of the finest and rarest U.S. coins. It was founded in 2012 by Laura Sperber, the owner and president of Legend Numismatics, a premier rare coin retail firm. LRCA was, from the outset, designed to be a different kind of rare coin auction firm. LRCA’s staff of numismatic auction industry veterans includes Julie Abrams, president; Greg Cohen, senior numismatist; and Jessica Berkman, consignment coordinator. The firm’s Regency Auctions serve as the official auction for the PCGS Members’ Shows, which are held six times per year. Since its founding, LRCA has sold many important collections, resulting in world-record prices, including the Coronet Collection of Morgan Dollars (#1 all-time PCGS set); the David Hall—Bob Simpson Collection of Liberty Head Eagles; the Sunnywood-Simpson Collection of Morgan Dollars; the Phil Flannagan Collection of Territorial Gold, Toned Dollars, and 1795 coins; duplicates from the Gerald Forsythe Collections of Buffalo Nickels and Mercury Dimes; the Bob Simpson Collection of Standard Silver Patterns; the Northern Lights Collection of Monster Toned Morgan Dollars; the Crow River Collections of Indian Head $10 and Peace Dollars; the P.F.M Collection (former #6 PCGS Set of Morgan Dollars with varieties); the Oak Crest Collection of Carson City $5 gold; the Konstantine Collection of Capped Bust Half Dollars, the #1 PCGS Set of Red Book varieties, 1807-1836. The firm’s impressive record also includes the second highest APR in 2016 with the sale of Bob Simpson’s duplicate 1879 $20 “Quintuple Stella,” which realized $1,880,000. To consign to an upcoming auction, visit the website of LRCA and contact a consignment specialist today.
Press release courtesy of Legend Rare Coin Auctions.