Published: March 11, 2003
Coins in California Exceed $7.1 Million
LONG BEACH, CALIF. – Heritage, auctioneer of the February-March Long Beach Coin Expo, realized $6.7 million with its Signature Sale and an additional $446,648 with its Bullet Auction for total prices realized in excess of $7.1 million.
Conducted in five sessions from February 27 through March 1, the 4,305-lot Signature Sale resulted in a sell through rate of 83.65 percent. The Bullet Auction, with live viewing in Long Beach and Internet-only bidding, did even better, selling 90.34 percent of the 1,974 lots offered.
Heritage president Greg Rohan said, “We are thrilled with the performance of our auctions at this year’s February-March Long Beach Coin Expo.” Rohan noted that there were 2,251 Signature Sale bidders and 1,009 Bullet Auction participants competing for fresh coins from numerous important consignors, such as Lance Burney, Jay Eisenberg, Philip Kaufman, Colonel Carmine Penta, Hans Poetsch, Dennis Ridings and Ira Rosen.
“The BTB Collection of Buffalo Nickels and the New York ‘Eye Appeal’ Collection also tempted bidders with stellar representatives of US coinage,” said Rohan.
“Among the most impressive prices realized was the $18,795 paid for a 1924-S Mercury Dime from the Jay Eisenberg Collection,” noted Rohan. “Certified MS65 Full Bands by PCGS, the coin traded hands for $18,975, or 185 percent of the current CDN [Coin Dealer Newsletter, commonly referred to as the ‘gray sheet’] bid of $10,250. Similarly, a PR64 PCGS representative of the low mintage 1905 Liberty Double Eagle brought more than the CDN bid. In this case, the realized price of $30,188 represents 128 percent of the $23,500 CDN bid. The coin was a highlight of the Lance Burney Collection.”
Among the numismatic rarities represented in the sales was the 1796 No Stars Quarter Eagle. The representative of this one-year type that sold for $65,550 in the Signature Sale was graded AU53 by PCGS, and it was consigned as part of the Dennis Ridings Collection. Also of note is a 1918/7-S Standing Liberty quarter MS64Full Head NGC that went to a new owner for $51,980, as well as an MS64 Deep Mirror Prooflike 1889-CC Morgan dollar that realized $50,600. The latter coin is certified by PCGS.
Prices realized for all lots in the Long Beach Signature Sale and Bullet Auction are posted online at www.HeritageCoin.com.
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