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Stack’s Bowers Baltimore Sale: Lots You Need to Know: Classic Coins

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Stack's Bowers - October 2018 - Classic Coins

by Charles Morgan for CoinWeek….

Stack’s Bowers’ Baltimore gross sales supply a variety of numismatic gadgets for collectors wanting to add essential new specimens to their collections.

Persevering with a collection of historic paper cash choices, Stack’s Bowers will headline their spectacular 13-session marathon sale with the third providing of the Joel Anderson Assortment of Paper Cash. This session kicks off on October 25 at 6:00 PM (EDT) and will probably be adopted thirty minutes later with a powerful 225-lot Rarities Night time sale.

Stack’s Bowers will then supply three further named gross sales: the Caine Assortment of Federal Essays and Proofs, Half I, on October 25th, the John E. Herzog Assortment of United States Paper Cash, Half II, on October 25th, and the Archangel Assortment of Colonial Coins and 1792 Coinage on October 26th.

I’ve spent a substantial period of time reviewing the contents of every sale and have ready a four-part version of Lots You Need to Know.

This collection of articles can be revealed as follows:

  • Half I: Trendy Coins
  • Half II (October fifth): Classic Coins
  • Half III (October ninth): Joel Anderson Assortment
  • Half IV (October 11th): Caine, Herzon, and Archangel Collections

I’ll recap every little thing we’ve coated in these articles with a particular “Lot Preview” version of the CoinWeek Midnight Stream on Friday, October fifth at 12:00 AM EDT. In case you are not an evening owl, you possibly can take a look at an archived model of this system on our YouTube channel. We may also publish it on CoinWeek. Watching reside is the one method you get to work together with me as I’ll attempt to reply questions associated to the sale as time permits.

With this housekeeping out of the best way, let’s break down 5 of the fashionable tons from Stack’s Bowers October Baltimore Sale that you simply want to find out about.

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Contents

Lot 2082: 1795 Flowing Hair Silver Greenback. BB-27, B-5. Rarity-1. Three Leaves. AU-55 (PCGS).

 

With the 1794 greenback being past the technique of most, the 1795 problem has lengthy been the consultant pattern of the Flowing Hair sort for generations of greenback coin collectors. The coin contains a fabulous and underrated design, the work of Robert Scot, the primary Chief Engraver of the USA Mint.

1795 dollars are scarce in an absolute sense, with most gradable examples encountered in grades under Additional Nice. The current piece is an attractively toned instance that reveals only a trace of wear and tear, incomes PCGS’ AU55 grade.

Different AU55s have traded palms in recent times at costs from $17,00zero to $30,00zero. For problems with this classic, the standard of the person piece trumps the grade said on the label (though it is a vital issue that’s baked into the customer’s calculus, for positive). This specific piece excels when it comes to eye attraction and we might not be stunned if it pushes properly past the $30,00zero when the ultimate hammer rings at Stack’s Bowers October 2018 Rarities Night time Session.

 

Lot 2039: 1916-D Mercury Dime. MS-66+ FB (PCGS). CAC.

 

In January 2018, Heritage Auctions bought a 1916-D Mercury dime graded MS67FB for $96,600. The coin was housed in a PCGS Previous Inexperienced Holder (Cert# 654707) and was one of many centerpieces of the Burgess Lee Berlin, M.D., and J.D. Collections.

That sum, spectacular in its personal proper, is lower than half of the document worth introduced by the difficulty on this grade and attribution at public public sale. The document worth being $195,500 that a fiery toner, maybe the situation census #1 coin introduced in 2010.

The current coin is graded MS66+ by PCGS and is CAC-approved. It has super eye attraction and when it comes to high quality, belongs in the identical dialog as the instance that bought in January and could be only a tick under the instance that bought in 2010.

The worth of the 1916-D is cemented by the truth that it that is the important thing date of one of the crucial iconic coin collection in all of American numismatics. The coin’s design attracts from the French Beaux Arts motion of the late 19th century and pays homage to symbols and figures from Greek and Roman historical past. It’s the final American dime collection to be launched solely in .900 silver and was changed in 1946 by the Roosevelt dime.

The Denver mint’s output of 264,00zero Mercury dimes in 1916 is dwarfed by the large output of 22,180,080 put out the identical yr by the Philadelphia Mint.

Regardless of the low mintage, a majority of the 1916-D dimes that survive are well-worn items that noticed years of circulation. The coin growth of the 1950s and 1960s noticed most of those examples ferreted out of change and positioned in coin boards and coin albums. Probably fewer than 500 of this scarce challenge survive in Mint State.

Up to now, PCGS has licensed eight examples in MS67 with Full Bands and three within the grade of MS66+ with Full Bands. CAC doesn’t differentiate between cash with or with out the plus grade and has utilized its inexperienced sticker to 9 examples in MS66 with Full Bands and simply three examples within the prime inhabitants grade of MS67FB.

We anticipate robust bidding approaching $90,00zero to $95,00zero for this piece.

 

Lot 2022: 1840 Braided Hair Cent. N-Eight. Rarity-1. Giant Date. MS-65 RD (PCGS).

 

Merely beautiful, that’s what this coin is.

Though the 1840 “Large Date” giant cent is just not a uncommon concern, the variability is extraordinarily uncommon in full purple. This instance earned the grade MS65 in its most up-to-date journey to PCGS and at this grade is a Prime Pop coin with a inhabitants of 4.

The final two occasions this coin has appeared at public sale, it has bought for $12,650 and $14,100 respectively. In each of those situations, the coin was housed in a PCGS Gen four.1 (used from 2002-2004) holder and graded MS64RD. The coin’s eye attraction and shade haven’t diminished one bit within the multiple decade since.

As for the uptick in grade? Eh, that’s how issues go within the numismatic market. Tens of hundreds of cash, if no more, at the moment are housed in holders bearing greater numerical grades. Refined late date copper cent collectors will look previous the quantity on the holder and can decide the coin based mostly on their model of the deserves. Stack’s Bowers of their itemizing of this piece says as a lot once they level out that copper professional Mark Borckardt grades this specimen MS64 by EAC Requirements.

Provenance: From Heritage’s sale of the Burning Tree Assortment, March 2009, lot 154; our sale of the Cardinal Assortment Instructional Basis, January 2013, lot 13060; our sale of the Assortment of Thaddeus A. Tatum III, August 2018 ANA, lot 1058.

 

Lot 2101: 1901 Morgan Silver Greenback. VAM-Three. Prime 100 Selection. Shifted Eagle, Doubled Die Reverse. MS-62 (PCGS).

 

The Philadelphia Mint’s output of Morgan dollars in 1901 would have been adequate to fulfill generations of greenback coin collectors have been it not for the Pittman Act’s name for the culling of over 270 million cash. Whereas these staggering numbers have been recognized to numismatists on the time, it wasn’t till many years later, as soon as all the Treasury’s Morgan greenback holdings have been exhausted, that these concerned within the pastime obtained a real sense of the shortage of this situation and others prefer it.

In Mint State, probably fewer than Three,00zero 1901 Morgan dollars exist, and lots of of those have a tendency to endure tremendously from a scarcity of eye attraction and weak luster. The current piece is, in accordance to Stack’s Bowers, tied for the Situation Census #2 of the favored VAM Three “Shifted Eagle” selection.

The variability will get its identify for the naked-eye seen doubling that’s most seen across the eagle. You can see within the close-up photograph above (courtesy of PCGS), that a second define of the eagle and the arrows and the olive department seems beneath the primary impression, that is the results of a misalignment of the working die early within the manufacturing course of.

A 1901 Morgan greenback of a standard die marriage would deliver between $5,00zero and $6,00zero in MS62 with good eye attraction. This selection instructions a big premium over that. In 2013, Heritage Public sale bought a PCGS MS62+ with subpar firming for $41,125.

This instance is already drawing curiosity from VAM lovers.

 

Lot 2219: 1936 Cleveland Centennial/Nice Lakes Exposition. MS-68+ * (NGC). CAC.

 

The basic commemorative coin collection is a U.S. coin collection that has been maligned and unfairly handled for years.

The collection, which had a fairly disjointed starting that coincided with the World’s Columbian Exposition of 1893, and limped alongside till a slew of releases flooded out of the Mom Mint and its branches in 1930s, on the peak of the Nice Melancholy, solely to meet an ignoble finish within the early 1950s, with a four-year issuance of a glut of half dollars that includes the likeness of African-American icons Booker T. Washington and George Washington Carver, accommodates inside its 144-piece silver set and 13-piece gold set, a few of the best examples of coin artwork in U.S. historical past.

This isn’t simply my opinion; it’s an opinion shared by most coin sellers, lots of whom bemoan the collection’ stagnant efficiency over the course of the previous 20 years.

What are the explanations for this weak displaying?

There are numerous, doubtless causes. The collection was overhyped and overpriced by promoters within the 1980s and early 1990s. The costs for even widespread basic commemoratives attain stratospheric ranges as these lovely cash, then out there in amount, have been encapsulated and bought to keen consumers. Initially, low populations have been reported for every problem within the collection on the two main grading providers.

Regularly, the populations crammed out and it turned evident that anyplace between 50% and 75% of the mintages for every situation survived, with many, as one would anticipate for a non-circulating concern, surviving in Gem or higher grades.

Because of this, fairly a little bit of arbitrage was erased as declining curiosity within the collection as an funding took maintain amongst collectors and the telemarketers that promoted them.

Regardless of all of this, the unvarnished fact is that the basic commemorative coin collection nonetheless provides a viable path for these, who’re curious about phenomenally well-preserved examples with superior eye attraction.

Stack’s Bowers is providing a number of examples like this on this sale, together with a incredible P-D-S set of 1939 Oregon halves in MS68, all with plus firming.

The current piece is a 1936 Cleveland Centennial struck together with the Nice Lakes Exposition of 1936-1937. 50,00zero examples of this coin have been struck and distributed at a price of $1.50 to exposition goers. The survival price of the difficulty possible falls between 50% and 60% of the unique mintage and each main grading providers mix to report a licensed inhabitants of simply over 12,00zero items.

The standard Cleveland half survives in a state of preservation between the grades of MS63 and MS66, with a majority of those cash grading between MS63 and MS65. In MS67, the difficulty is sort of scarce, with fewer than 150 grading occasions recorded.

The current piece is graded MS68+* by NGC. The plus signifies that the coin is on the excessive finish for the grade and the * designates that the coin has distinctive eye attraction. Beforehand, the coin resided in a PCGS MS67+ holder. A picture of the coin continues to be posted on PCGS CoinFacts. PCGS reviews one coin within the grade of MS68. It might take fairly a little bit of convincing for somebody to change my thoughts that the instance within the Stack’s Bowers sale isn’t the higher coin. And it’s not simply me, a CAC sticker confirms that that service agrees with NGC’s appraisal and that is the one Cleveland in MS68 to earn the stated sticker.

So what is going to the ultimate hammer worth be? PCGS CoinFacts posits that an MS68 Cleveland has a worth of $20,00zero. They base this on no public public sale, however as an alternative, I presume, on professional opinion. This opinion could also be 100% right. We’ll see in a couple of weeks when this incredible instance crosses the public sale block.

If I have been constructing the best basic commemorative set, I can consider no the reason why I wouldn’t need this coin. On the idea of shade although, I’d in all probability take the PCGS MS68, too.

 

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Stack’s Bowers’ Official Sale of the Whitman Coin & Collectibles Expo in Baltimore, Maryland

Stack's Bowers The October 2018 Baltimore Auction - Catalog ImageStack’s Bowers The October 2018 Baltimore Public sale – Catalog Picture

Session Itemizing:

October 2018 Baltimore – Session 1 – U.S. Coins Half 1 – Lots 1-560

OCTOBER 24, 2018 • four PM EST • BALTIMORE CONVENTION CENTER • ROOM 308

Session 1 – U.S. Coins Half 1. Exonumia and Half Cents by way of Half Dollars. The stay public sale session begins at four PM EST on Wednesday, October 24 in Room 308.

October 2018 Baltimore – Session 2 – U.S. Coins Half 2 – Lots 1001-1692

OCTOBER 25, 2018 • 10 AM EST • BALTIMORE CONVENTION CENTER • ROOM 308

Session 2 – U.S. Coins Half 2. Silver Dollars by way of the Finish. The reside public sale session begins at 10 AM EST on Thursday, October 25 in Room 308.

October 2018 Baltimore – Session Three – Rarities Night time – Lots 2001-2226

OCTOBER 25, 2018 • 6:30 PM EST • BALTIMORE CONVENTION CENTER • ROOM 308

Session Three – Rarities Night time. The reside public sale session begins at 6:30 PM EDT on Thursday, October 25 in Room 308.

October 2018 Baltimore – Session four – The Joel R. Anderson Assortment of United States Paper Cash Half III – Lots 3001-3054

OCTOBER 25, 2018 • 6 PM EST • BALTIMORE CONVENTION CENTER • ROOM 309

Session four – The Joel R. Anderson Assortment United States Paper Cash Half III. The stay public sale session begins at 6:00 PM EST on Thursday, October 25 in Room 309.

October 2018 Baltimore – Session 5 – The Caine Assortment of Federal Essays and Proofs Half I – Lots 4001-4113

OCTOBER 25, 2018 • 6:30 PM EST • BALTIMORE CONVENTION CENTER • ROOM 309

Session 5 – The Caine Assortment of Federal Essays and Proofs Half I. The reside public sale session begins at instantly following the conclusion of Session four on Thursday, October 25 in Room 309.

October 2018 Baltimore – Session 6 – The John E. Herzog Assortment of United States Paper Cash Half II – Lots 5001-5062

OCTOBER 25, 2018 • 7:00 PM EST • BALTIMORE CONVENTION CENTER • ROOM 309

Session 6 – The John E. Herzog Assortment of United States Paper Cash Half II. The reside public sale session begins instantly following the conclusion of Session 5 on Thursday, October 25 in Room 309.

October 2018 Baltimore – Session 7 – Early American Coins – Lots 6001-6351

OCTOBER 26, 2018 • 11 AM EST • BALTIMORE CONVENTION CENTER • ROOM 308

Session 7 – Early American Coins. The stay public sale session begins at 11:00 AM EST on Friday, October 26 in Room 308.

October 2018 Baltimore – Session Eight – The Archangel Assortment of Colonial Coins and 1792 Coinage – Lots 7001-7155

OCTOBER 26, 2018 • 6:30 PM EST • BALTIMORE CONVENTION CENTER • ROOM 308

Session Eight – The Archangel Assortment of Colonial Coins and 1792 Coinage. The stay public sale session begins at 6:30 PM EST on Friday, October 26 in Room 308.

October 2018 Baltimore – Session 9 – U.S. Foreign money – Lots 8001-8509

OCTOBER 26, 2018 • 5 PM PST • BALTIMORE CONVENTION CENTER • ROOM 309

Session 9 – U.S. Foreign money. The reside public sale session begins at 5:00 PM EST on Friday, October 26 in Room 309.

October 2018 Baltimore – Session 10 – Web Solely – U.S. Foreign money – Lots 9001-9412

OCTOBER 29, 2018 • 9 AM PDT • INTERNET ONLY

Session 10 – Web Solely – U.S. Foreign money. The stay public sale session begins at 9:00 AM PST on Monday, October 29.

October 2018 Baltimore – Session 11 – Web Solely – U.S. Coins Half 1 – Lots 10001-10621

OCTOBER 29, 2018 • 9 AM PDT • INTERNET ONLY

Session 11 – Web Solely – U.S. Coins Half 1. The reside public sale session begins at 9:00 AM PST on Monday, October 29.

October 2018 Baltimore – Session 12 – Web Solely – U.S. Coins Half 2 – Lots 11001-11716

OCTOBER 30, 2018 • 9 AM PDT • INTERNET ONLY

Session 12 – Web Solely – U.S. Coins Half 2. The reside public sale session begins at 9:00 AM PST on Tuesday, October 30.

October 2018 Baltimore – Session 13 – Web Solely – U.S. Coins Half Three – Lots 12001-12788

OCTOBER 30, 2018 • 9 AM PDT • INTERNET ONLY

Session 13 – Web Solely – U.S. Coins Half Three. The stay public sale session begins at 9:00 AM PST on Wednesday, October 31.