With the bidding that greeted the large cent collection of Walter Husak described by observers as “astronomical,” “incredible,” “feverish” and “stunning,” Heritage conducted the official auction of the Long Beach Coin Expo on February 14‱6. Prices realized from the Husak consignment exceeded $10.7 million, and $4.6 million came from the Southwest collection. These two consignments †out of 220 consignors †accounted for half of the total prices realized, which, with proceeds from the token and medal session and the final session auction, reached almost $25 million.
“In some ways our Long Beach auction proceeded as expected,” commented Heritage President Greg Rohan. “We expected the 1838-O half dollar, one of the classic American rarities, to be the most expensive item sold, which it was; little did we know that two large cents would tie it at $632,500 each.”
It was expected that prices for the Husak collection of early US large cents would be very high, Rohan said, “but we, and most bidders in the room and those bidding through Heritage Live, were shocked at most of the prices realized. The greatest collection of early large cents ever formed †including virtually every Sheldon number in the 1793 to 1814 series †realized the greatest prices ever for these marvelous coins †with many coins realizing multiples of previous records.
“The Southwest collection was also expected to attract wide attention, with its emphasis on gem-quality rarities with eye appeal,” Rohan continued. “Here again, many prices were simply amazing. The Southwest collection was meticulously assembled by a connoisseur of cultural artifacts who sought to procure the best; again, the search for quality was rewarded by the marketplace.”
Highlights from the Husak collection beyond those already mentioned included $488,750 for a 1794 one cent head 1795, red and brown that sold to the phone. A 1793 chain one cent, America, realized $253,000, from a floor bidder. Two coins achieved $253,000: a 1794 one cent head of 1793, brown; and a St Oswald 1794 S-71 cent, head of 1795, red and brown, sold to the phone.
From the Southwest collection came a draped bust small eagle half dollar. Bidders pushed this mint state coin to $373,750. An 1879 gem proof example of the popular $4 “goloid” pattern, more popularly known as the “Stella,” realized $201,250 from a floor bidder.
Also from the Southwest collection, a classic American commemorative coin, the 1915-S Panama-Pacific $50 octagonal, sold to an Internet buyer for $121,325. A buyer on Heritage’s online buying platform, HA.com/live, won a 1795 flowing hair silver dollar, a small eagle design, that was the first struck silver coinage after the opening of the first Philadelphia Mint in 1793 for $149,500. This was the two leaves variety; the design was used on half dimes, half dollars and silver dollars dated 1794 and 1795.
“Of the 20 highest prices in the entire Long Beach auction,” Rohan said, “Husak coins achieved 15 of them. It was an amazing auction overall.”
All prices quoted include the buyer’s premium.
For more information, www.ha.com or 800-872-6467.
