On June 8-11, 2017, Heritage Auctions U.S. Coin Auction, held in conjunction with the Long Beach Coin and Collectibles Expo, brought in more than $10.7 million for consignors. This auction, which featured a diverse selection of rarities, was 98% sold by lot and by value.
“The market for rare and unusual specimens is still doing very well. We saw robust activity at Long Beach with 13 bidders vying for the top lot,” said Jim Halperin, co-founder of Heritage Auctions.
The biggest highlight of the auction was a 107.76 ounce Kellogg & Humbert gold ingot, which realized $188,000. This “very large” ingot, like many others, was recovered in the S.S. Central America, and has a stamped value of $2,109.31 – in 1857 dollars.
A well-known and highly sought-after coin, the 1893-S Morgan Dollar, was also featured in the auction. The example, graded MS61 by PCGS, toppled expectations to bring in $176,250. The last time a mint state example of the coin was offered at Heritage was July 2015. Despite the popularity of the coin, fewer than 70 examples have been certified in mint state grades by the major grading services.
Also featured was a 1652 Pine Tree Shilling graded MS65 by PCGS, one of the finest examples of the rare Noe-7 variety. Only about 11 examples of the Noe-7 variety are believed to exist, and this coin is believed to be the finest among them. This impressive coin ended at $141,000.
Additional highlights included a 1796 $2 1/2 No Stars on Obverse, BD-2, AU50 PCGS realized for $111,625; a 1921 $20 MS62 PCGS sold for $88,125; an 1808 $2 1/2 BD-1, XF45 PCGS ended at $82,250; an 1820 25C Browning 4, Small 0 PR64 PCGS Secure. CAC realized $76,375; and an 1895 $1 PR64+ Cameo PCGS brought in $76,375.
Other results were an 1872 25C Amazonian Quarter Dollar, Judd-1196, R.7, PR66 Red and Brown PCGS that sold for $70,500; an 1875 T$1 Commercial Dollar, Judd-1425, R.8, PR66 Cameo PCGS ended at $64,625; a 1652 Pine Tree Shilling, Small Planchet, MS64 NGC. Noe-16 brought in $25,850; and a 1907 $10 Wire Rim MS64+ PCGS Secure. CAC realized $58,750.