Rare coin auction banks more than US 'top grossing movie'

paulfrasercollectibles

2015-06-26 11:36:02

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Rare coin auction banks more than US 'top grossing movie'

Coin collectors outshone Hollywood at the weekend when an auction made more than tinseltown's most popular film

A "blockbuster" US Coin auction at Heritage Galleries, Los Angeles, resulted in over $22m in sales, last weekend.

Leading the sales was a very rare Kern-Carter 1880 Coiled Hair Stella, going for $546,250. It is believed that only 20 pieces, designed by George Morgan, were ever coined.

"The more-than half million dollar price tag attests not only to the rarity of this great coin," said Greg Rohan, President of Heritage.

"It also speaks to the undiminished popularity and lasting beauty of Morgan's artistry."

Lot number two was a spectacular MS65 1933 $10, the Morse-O'Neal - one of the most notable rarities of the 20th Century U.S. Mint Gold Series.

The coin survived President Franklin Roosevelt's early 1933 order halting the release of gold coins from the Mint in order to reverse the downward economic spiral of the Great Depression.

Lot number three was one of the finest known examples of an 1856-O $20 AU58 NGC. With only 2,250 pieces ever made, it is easily one of the rarest double eagle from the New Orleans Mint.

Each lot sold for $460,000.

Elsewhere, a super gold rarity, the 1795 $5 Small Eagle S over D MS65 Prooflike NGC, attracted much admiration and fierce floor bidding. Its price soared to $345,000.

"This stunning beauty ranks among the finest Heritage has ever handled," said Mr Rohan.

"In fact, it's the only Gem example of this early issue that has appeared in any of our auctions since 1993... the finest Prooflike example that has ever been certified."

The Los Angeles auction attracted almost 4,000 bidders and sold more than 90% of the lots, with many bidders gaining coin investments with future appreciations over $0.5m.

"We're certainly pleased with the outcome of this auction," said Mr Rohan.

"Our three day event was a blockbuster. It brought in more than the top grossing movie of the weekend, which earned a little more than $22 million total," he added.

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