Heritage Auctions

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Press Release - June 15, 2010

Heritage June Long Beach Auction realizes more than $9.88 million

Rare Morgan dollars, gold lead the way with strong prices and competitive bidding

DALLAS, TX – More than 4,250 bidders lined up to take part in the offerings of Heritage’s June 3-6 Long Beach Signature® U.S. Coin Auction, sending a remarkable 1866 $1 Motto PR67 Cameo NGC, CAC to the top of the pile with a $69,000 final price in an auction that saw solid bidding across the board, the continuance of gold as the hottest sector of the market, and a total of more than $9.88 million. All prices include 15% Buyer’s Premium.

“Even without the presence of six and seven figure coins we still saw totals approaching the $10 million mark and a more than 95% sell-through rate by lot totals,” said Greg Rohan, President of Heritage Auctions. “The enthusiasm in the current numismatic marketplace is there at all levels, and it helped make this a strong overall event.”

An important 1944-D Lincoln Cent Error struck on a Steel Planchet, AU55 NGC, 2.8 gm., coming to auction from The Brenda John Collection, caught the attention of collectors of both error rarities and Lincoln cents, and subsequently roared to a $60,375 final price, while an astounding 1891-O Morgan Dollar MS65 Deep Mirror Prooflike, from the PCGS Tour - one of only two MS65 Deep Mirror Prooflike examples known to PCGS, with none finer – was much in demand with collectors before finally coming to a stop at $57,500.

A stunning 1892-O $1 MS65 Deep Mirror Prooflike PCGS, also from the PCGS Tour, continued the stream of superb Morgan Dollars in the auction, as this example proved one of the most popular in the whole of the Long Beach auction with a price realized of $57,500.

“For the knowledgeable Morgan dollar collector, the simple existence of this Deep Mirror Prooflike Gem is astounding,” said Rohan. “The 1892-O is one of the rarest of the Morgan dollars in prooflike condition. The price realized proves how much collectors value that rarity."

The top gold highlight of the auction was an important 1796 $10 AU53 NGC, Breen-6832, Taraszka-6, BD-1, R.4, which realized $57,500. There is no accurate census of 1796 eagles that survive, although it is fair to say that the majority are in grades below AU, making this coin a special specimen indeed.

Further highlights include, but are not limited to:

1860 $2 1/2 Clark, Gruber & Co. Quarter Eagle MS64 PCGS. K-1, R.4: Single Finest Graded at PCGS. Realized: $51,750.

1859 $3 PR65 Ultra Cameo NGC: Realized: $49,450.

1883 $10 PR65 Ultra Cameo NGC: Realized: $48,888.

1803 $10 Small Stars Reverse MS62+ PCGS Secure. Breen-6844, Taraszka-28, BD-3, R.4.: Realized: $48,875.

1916-D 10C MS65 Full Bands PCGS: Realized: $48,875.

Heritage Auctions, founded by Steve Ivy and Jim Halperin, is the world’s third largest auction house, with annual sales more than $600 million, and 500,000+ registered online bidder members. For more information about Heritage Auctions, and to join and gain access to a complete record of prices realized, along with full-color, enlargeable photos of each lot, please visit HA.com.

Want to get the up-to-the-minute updates and breaking news stories about Heritage Auctions? Get them as they happen at: Twitter.com/HeritagePress; Twitter.com/JimHalperin; Facebook: Heritage Auction Galleries. To view a compete archive of Heritage press releases go to: HA.com/PR. To link to this press release on your blog or Website: HA.com/PR-1855.

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