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Sale 7
Lot 1394
1793 S-9 PCGS GRADED MS68 BROWN. PCGS graded MS-68 Brown. Here is one of the very finest known of this popular variety. The monumental grade awarded by PCGS is simply amazing. This isn't some Morgan dollar that somehow survived in pristine condition over decades from a hoard of tens of thousands, this is a 1793 Wreath Cent in absolutely superb condition. Satiny brown luster throughout, the color is a medium chocolate brown, evenly toned on both sides. As to the surfaces, well, the grade says it all, they are virtually perfect. It is a certainty that this coin was carefully preserved from the day it was struck. It is incomprehensible to think that a coin like this could be found today without some signs of handling. One must stand in awe of this piece.
Of course the strike is full and complete, with each tiny stand of hair crisply defined on Liberty, as are the tiny dentils at the edge. Similar on the reverse, the leaf veins pop out from the centers of each leaf, and a fine die crack bisects the reverse. The large and cumbersome bow at the base of the wreath is a diagnostic to the variety. Completely free of spots or other unwanted signs of age.
While many coins may be high up in their own particular condition census, it is rare that we have a chance to offer so many extremely famous rarities in such superlative condition. With the active coin market of the 1990s, a large number of superb collections were finally brought to the market. Some of these coins are still floating around, most of which disappeared again deep into collections, a few were off the market for the last eight years and have now resurfaced. Don't expect these superb gem pieces to be around when you want one in the next few decades, they'll be long gone and may not be seen again in our lifetimes. As more and more collectors specialize in certain areas of collecting, coins like this become impossible to locate as they are needed by date, type and variety collectors alike. There is no large floating supply of 1793 cents, no big hoards were discovered, no kegs lying under some railway station, no hidden boxes of 1793s awaiting discovery, no shipwreck to recover to give collectors a reasonable chance at obtaining one of these numismatic classics. Thus, we must play what we are dealt, and here is one of the foremost opportunities to purchase a superbly preserved 1793 large cent that will ever come to market.
Estimated Value $150,000-UP.
From the collection of Howard R. Newcomb, lot 8; Starr Collection, lot 13; Roy E. Naftzger; Jay Parrino ("The Mint") to our present consigner.
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Lot 1354
A PHENOMENAL PANAMA PACIFIC SET
OFFERED INDIVIDUALLY. NGC graded MS-66. This coin is tied for the finest graded by either service, with only 8 so graded by NGC, with none graded higher than MS-65 by PCGS. In the Goldberg's experience, it is by far the finest round $50 they have ever seen, and expect it to realize a record price for the issue. Full luster on both sides, and nearly free of contact marks, which is nothing short of amazing on a coin of this size. Furthermore, these were sold to attendees of the Panama Pacific Exposition in 1915, not to preservation crazed numismatists that would keep such a purchase and carefully preserve it. Hence very few are known in high grade, and to even locate a gem may take years, if another can be found. Only 483 were sold of the Round $50, most of which were mishandled. The strike is full and complete, with Athena sharp, and her helmet a picture of military dress. On the reverse, the proud owl stands tall on its pine branch, surrounded by a number of pine cones. We can not imagine a finer example.
The Panama Pacific coins are some of the most beautiful and important commemorative issues ever struck. The Panama Canal had just opened on August 15, 1914, which was, of course, an engineering marvel. At last ships no longer had to make the treacherous voyage around the tip of South America, known for violent storms which claimed a great many ships over the centuries. In order to avoid the dangerous southern route, a train was available in Panama for ships to off-load their cargo on from the Pacific side, then the train would carry the cargo the distance over the mountains to the Atlantic side, where the cargo would be reloaded onto a waiting ship to complete its journey. Naturally, this was a long and hazardous process, handling cargo multiple times and exposing it to foul weather sometimes waiting for the other ship to complete the voyage. Once the Panama Canal was opened, ships no longer had to be unloaded and reloaded, coordinating the ships in two oceans was no longer needed. Navies no longer needed as many ships, and shipping prices for commodities plunged.
The obverse displays Athena, in her Athenian helmet, while the reverse shows an owl sitting on a pine branch. Only 483 were sold of the round $50, the balance struck were melted.
This $50 Round is the first coin offered from this phenomenal Panama Pacific Set. Immediately following in the next lot is the $50 Octagonal, then the $2.50 gold, next the $1.00 gold, followed by the half dollar and last but not least the original Copper frame which held these coins for the last 85 years. We stress that this is certainly the finest overall set we have ever seen, and with the $50 Round tied for the finest graded, it is probably one of the finest original sets in existence. We hope that an astute numismatist will purchase all the lots offered to keep this magnificent set intact, including the copper frame.
Estimated Value $100,000-UP.
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Lot 1142
ONE OF THE FINEST KNOWN 1854-O TWENTIES. PCGS graded AU-50. One of the key dates to the double eagle series, this year saw the mintage top out at only 3,250 pieces. Most of those were lost, spent and remelted into later date coinage. No single specimen exists in mint state, although a handful are close, including this coin. The surfaces show moderate handling marks, as expected for the grade. Boldly struck and full hair details are noted on Liberty's upper curls, while the lower ones near her neck are a bit flat. On the reverse, there is no sign of weakness. As so few are known in high grade, it wasn't difficult to track down this coin. It was last sold at auction by Heritage, March 1998, lot 6507, and just prior to that in the Heritage ANA Sale, August 1997, lot 7821, in both of those appearances the coin graded NGC XF-45.
There is a small planchet flaw extending up at a sharp angle from the center of Liberty's neck, and there is a small tick mark below the CA of AMERICA, which serve to hallmark this coin. Estimates range all over the map for the number known, but a guess would be 50. Of those, this is apparently in the top ten, and compares favorably with the recently offered Harry Bass coin, which was PCGS graded AU-55 and sold for $103,500 in May of 2000.
When reviewing recent auction appearances, we note that the coin offered in Heritage's August 1998 sale, although graded AU-50, had been wire brushed so badly, it wasn't even photographed in that sale. The other coins of comparable quality haven't sold recently enough to bother reporting prices.
If you are a date collector of these important gold coins, then waiting for a better example would likely be a fools game, at best, if you wait long enough, an equal coin may be located. History is against it though, and the astute numismatist knows that it is best to purchase the rare ones when they appear, for they may not be available when you really need one. Bid accordingly if you expect to win the exceptional prize. This one is currently in PCGS holder #5781533.
Estimated Value $75,000-UP.
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Lot 1780
THE FINEST KNOWN 1867 PROOF. NGC graded Proof 68 Superb!. The surfaces of this piece, are, shall we say--phenomenal!--virtually untouched since the day this piece was coined. Perfectly struck, perfectly preserved and gloriously toned, that's the package here. As to the other 1867 silver dollars struck in proof, most of the original mintage of 625 were spent, lost or otherwise damaged in the ensuing 133 years. After nearly 14 years of third party grading, the two services have seen most of what's available. Here's how the Population Reports of NGC and PCGS read: Proof 68, only a single specimen, this coin. Proof 67, none. Proof 66, NGC has seen 5, PCGS none. A few more gem 65s are available, with a total of 27 graded between the two. Furthermore, as a type coin, NGC has only graded 2 seated dollars this high, PCGS hasn't graded any in Proof 68, and neither has seen any in higher grades, naturally. Thus, this coin is tied for the finest known of its type with one other specimen.
Another fantastic feature of this coin are the dizzying array of colors that encircle the obverse, the edges are fairly dark in tones and as one moves closer to the bright white center, one passes through areas of color which look more like interstellar nebulas than the usual artists palette of rainbow tones. On the reverse, the color is more mottled, with deep smoky gray at the bottom, areas of brilliant rust hues scattered on the devices and hints of violet combined with dove gray. The ensemble is probably a natural outgrowth of careful storage for decades, and occasionally coins with vivid colors such as this are seen from sources that didn't touch, clean or even examine their coins for decades and more.
Certainly the most resplendent seated silver dollar in existence, and one that will command a record price to pry this coin away from its current owner. One of the most remarkable coins in this sale because of its fantastic state of preservation.
Estimated Value $50,000-UP.
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Lot 1401
BEAUTIFUL 1803 LARGE CENT. PCGS graded MS-67 Red and Brown. What a fantastic cent! Faded mint red glows up from the fields and produces an enticing cartwheel effect seldom seen on large cents of any date, let alone an 1803. This coin is the finest known of the variety, slightly ahead of a similar coin that passed through Rarcoa. What separates this coin from the few other mint state pieces known are the superb surfaces. A glass fails to locate anything more than microscopic contact, and the only way to identify this piece is by a couple of minute specks, one just above the O in ONE on the reverse. Currently in PCGS holder #3195353.
This coin is rarely offered for sale, it has been tied up in Dr. William Sheldon's collection for years, which was sold en bloc to Roy E. Naftzger some years ago, and finally surfaced (briefly) in a complex transaction. Many of the coins from Dr. Sheldon's collection were the finest known of the variety, and a few of them are being offered in this auction sale.
It is curious to note the die file lines that are visible on most of the obverse devices, apparently from wire brushing the die when it was first engraved or from some other process. The die lines appear as circular raised marks, and are most prominent near Liberty's bust and drapery. Additional lines can be seen on her ribbon, even her nose. These light die lines are seldom seen as they are easily removed by die lapping or wear or even brief circulation once the coin is struck. Hence, this coin must have been an early die state, struck well before the reverse die cracked or the obverse die was lapped to remove clash marks.
Certainly this coin will always stand alone as one of the great highlights of any collection it graces. Be prepared to bid liberally as virtually every collector would love to own this coin, the only deciding factor is price, which is why we have auctions. To find the most determined buyer who won't settle for something less than the absolute best, this 1803 cent.
Estimated Value $40,000-UP.
From the William H. Sheldon Collection, then to Roy E. Naftzger, Jay Parrino ("The Mint") to our present consignor.
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Lot 915
THE FINEST GRADED 1873-CC HALF EAGLE. PCGS graded MS-62 H.W. Bass, Jr. Collection. Lustrous orange-gold in color, with a scattering of shallow tick marks, none deep or noteworthy.
From the October 1999 Harry Bass Sale by Bowers and Merena, this magnificent coin is almost certainly the finest known of the date. The PCGS Population Report notes only one other coin graded as Mint State 61, and below that a pair that rate as AU-55, from there only 7 have been graded in the two grades of EF. Hence, this is a major rarity in grades above Very Fine, with a mintage of 7,416. Conditions in Carson City were pretty wild in the 1870s, numismatists were generally unknown at the time, and coins were collected by date, not by branch mint. The nation's economy took a nose dive in 1873, hence even fewer coins were issued than prior years, and not many people were well enough off to set aside a gold coin as something to save and preserve. The production of coins in 1873 saw rapid entry into circulation, most coins of this date and mint are found in very low grades, frequently with numerous circulation marks well beyond those expected for the wear received.
Here is a remarkable exception, perhaps it was saved to commemorate a birth and passed down from family member to family member. Whatever the case, this is a beautiful coin and one of the rarest Carson City half eagles. Collectors that have years of experience under their belts know that finding a Carson City half eagle of this date in grades of extremely fine is an important opportunity. Experts Douglas Winter and Lawrence Cutler in their book on Carson City coins stated "No Mint State 1873-CC half eagles are known to exist." This coin was purchased by Harry Bass in August 1976, and with todays current grading standards is available to connoisseurs of the series.
The sale of many of the Harry Bass coins provides an opportunity for gold collectors that will probably never be repeated, important rarities, sometimes in small quantities, are available and many of these coins have been offered in subsequent auctions a time or two. Soon they will all be tucked away in collections, scattered to the winds, and may not be available again for decades. Here is yet another opportunity to purchase this famous rarity, the finest graded 1873-CC half eagle.
Estimated Value $50,000 - 65,000.
From Stack's ANA sale, August 1976, lot 2998; then from Bowers and Merena's Harry Bass Part II sale, October 1999, lot 1188 where it realized $66,125.
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Lot 839
THE FINEST KNOWN 1863 $3 GOLD PIECE. NGC graded MS-68 Phenominal! Wow, what a coin! If you have ever wondered what a nearly perfect coin looked like, then take a look. PCGS and NGC have only graded 3 coins this high for the entire series. Curiously, the NGC Population Report shows 2 graded this high of this date, which may be someone attempting to get an even higher grade on this same coin, but we can't be sure.
The surfaces defy description, they approach perfection in every way. One notes the faint roller lines from the planchet preparation process, but Liberty's full cheek is as pristine as the day it was struck. There is a tiny hidden tick mark on Liberty's eyebrow, while the reverse is virtually perfect. The strike is sharp, with minor weakness noted on the lower portion of the wreath, and curious clash marks (at least two sets) are visible on both the obverse and reverse dies in the fields. Clash marks are caused when the dies strike each other without a planchet between them, leaving part of the image from the dies on the highest point of the opposing die, the fields.
Only 5000 were struck in 1863 as the nation focused on the disastrous battles in the south and east. Few of these were saved, today most are found in circulated grades, and precious few are known in Uncirculated condition. If you want the best of the best, the best of the series, then here is the coin for you.
Estimated Value $40,000 - 50,000.
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Lot 1906
WONDERFUL 144 PIECE COMMEMORATIVE SET. PCGS graded MS-64. An amazing set, many of the coins are in old style small PCGS holders, and we note many possible upgrades are included, some maybe more than a single mint state point! The coins are mostly untoned, but some have light peripheral toning. These were obviously hand picked by a fastidious collector who demanded top quality from this near-gem grade and no doubt many pieces were rejected to find coins of this quality for the assigned grade. Obviously, this set would save a collector untold hours of time by having a well matched set already assembled.
Estimated Value $30,000-UP.
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Lot 1355
1915-S Panama-Pacific Gold $50 Octagonal. NGC graded MS-64. An exceptional coin for the grade, this one came to us from an estate that was put away in the early 1970s. At that time, the collector found and purchased a superb original set of these Panama Pacific coins in the original copper frame. They have only been submitted to the services once. We note the usual swirl lines from die polishing in the fields, and the surfaces are well preserved. Full luster throughout, and this is certainly one of the better examples of the Octagonal $50 we have seen. NGC notes in their Population Report that 109 have been so graded, with just 17 graded higher. Light golden toning on both sides, and one that any collector will long cherish.
Estimated Value $35,000-UP.
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Lot 1060
THE FINEST GRADED PROOF 1887. NGC graded Proof 66 Cameo. This is the finest graded 1887 Proof eagle by either NGC or PCGS. A glance will confirm the pristine nature of this exceptional coin. Magnificent surfaces scroll by when examined with a glass, the familiar "orange-peel" texture in the fields remains just as imparted by the dies, perfectly preserved through the decades. Identifiable by a minute planchet flake below Liberty's hair bun in the field, the surfaces otherwise are perfectly preserved. Deeply frosted devices seem to float on the glassy sea fields.
We are uncertain of the provenance of this coin, but it may be from the Trompeter Collection, it is not from the recent Bass Sale, or from Bowers and Merena's Rarity Sale of August, 1999. Only 80 were struck, and this is apparently the best to have come down to us. A foremost opportunity for the advanced numismatist.
Estimated Value $30,000 - 40,000.
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