A $10 1907 Rolled Rim Graded MS-66 by Professional Coin Grading Service (PCGS) sold for $810,000 to lead Heritage Auctions’ Long Beach Expo/Summer FUN US Coins Signature Auction to 17,958 $884 July 14-17.
The auction generated sell-through rates of over 99.9% in both value and lots sold for the event which attracted 3,686 global bidders seeking 1,921 lots.
The top lot, from The Cody Brady Collection Part IV, is exceptionally rare. The specimen is one of only 13 rated 66 (two of which are 66+), and there are only four bearing higher grades.
“This is a beautiful and rare piece, rarer than all Indian Eagle series issues except 1933, and is prized by model collectors and series specialists alike,” said Mark Van Winkle, chief cataloger at Heritage Auctions. “The 1907 Rolled Rim $10 is part of a surviving population estimated by PCGS CoinFacts at only 40-42 coins, but of these, most are in the MS-63 to MS-65 range. Two Rolled Rim examples are included in the National Numismatic Collection of the Smithsonian Institution, and two others are in the collection of the American Numismatic Society.
The $10 Rolled Rim earned the highest rating, but the event saw strong results across the board, with 18 lots bringing in six-figure results, including two – a 1943 cent struck on a bronze blank, AU- 50 PCGS and a 1907 Wire Rim $10 MS-67 PCGS – which each drew a winning bid of $336,000.
The 1943 Lincoln cent has been called the most famous and sought after error coin of all time. Hundreds of millions were struck each year, but when copper was needed for World War II efforts for ammunition casings, 1943 cents were struck in zinc-plated steel. This previously unknown example was one of a few bronze planchettes that got stuck in the bins of the Mint in late 1942, only to be dislodged and fed into the presses, emerging in 1943 in a zinc-plated steel cent bin. Demand has increased, and not just because of scarcity. Rumors – which ultimately proved untrue – surfaced nationwide in the late 1940s that Henry Ford would give a new car to anyone who found a 1943 “copper” penny. not making such a claim was irrelevant as the perceived promise of a free car caused interest to skyrocket.
Like the $10 Rolled Rim at the top of the sale, the $10 Wire Rim is also from The Cody Brady Collection Part IV. Augustus Saint-Gaudens’ first design for the 1907 Indian Eagle featured a metallic border (rather than the traditional border) around the circumference of the coin in a design much admired by President Theodore Roosevelt. Only 500 specimens were minted, and 42 more were produced later. Of these 542 pieces, 70 were subsequently melted down, leaving a total net production of 472 pieces. But the metal rim made it difficult to stack the coins for counting purposes, and it was feared that the rim would wear out quickly, resulting in underweight coins. Chief Engraver Charles Barber modified the design to include a more practical rolled rim in September, and the wire rim design was soon abandoned.
A significant and historic rarity from the Allan H. Goldman collection, an 1854-S Liberty Quarter Eagle rated VF-25 by Numismatic Guaranty Company (NGC) sold for $288,000. It is one of only 246 coins minted, making it one of the rarest gold coins ever issued – so rare that PCGS CoinFacts estimates there are only 11 or 12 left in the world. any rank, and one of them is in the Smithsonian’s National Numismatic Collection, and will never end up in a private collection.
Another offering from the Cody Brady Collection Part IV, a 1930-S eagle MS-66 PCGS/CAC, attracted a winning bid of $264,000. Only one copy, from the Duckor and O’Neal collections, has been rated finer (MS-67) by PCGS. The fact that the $10 Indian Head gold coin claimed one of the lowest mintages of the series – only 96,000 were minted – would be reason enough for the high demand from collectors. But what makes this late key prized by serious collectors is its melted rarity status: it is estimated that up to 95,000 were melted after the 1933 gold recall. 1930-S survive. today in all grades, and of these all but about 10 are in mint condition.
Also from the Allan H. Goldman Collection, an 1841 quarter eagle, PR-50 NGC JD-1 High R.6, one of the rarest issues of any US coin, closed at $228,000. Mint records show that no 1841 “P” quarter eagles were produced as evidence or circulation strikes, but “The Little Princess”, as it is called, does in fact exist. PCGS recognizes both evidence and circulation strikes, while NGC only recognizes 1841 quarter eagles as evidence. Heritage Auctions has only confirmed 16 examples, including one that was reported stolen many years ago and has not been seen since. Three others reside in institutional collections, unavailable for public or private sale.
An 1804 Eagle Crosslet 4, BD-1, High R.4, MS-63 NGC and an 1907 Double Eagle High Relief, Flat Rim, MS-66+ PCGS/CAC each ended at $216,000. The 1804 eagle is one of four MS-63 specimens at NGC (with one thinner) while PCGS has certified one as MS-63+ (with one thinner, at MS-64). This beauty racked up 72 bids before reaching her final result.
Other highlights included:
• A double eagle 1925-S, MS-65 NGC: $180,000
• Flowing hair from 1879 Stella, Judd-1635, Pollock-1833, JD-1, R.3, PR-63 Cameo PCGS/CAC: $162,000
• One 1849 dollar, PR-66 PCGS/CAC, OC-P-1: $156,000
• An 1875 half-eagle, PR-64 PCGS, JD-1, Low R.7: $144,000
• A quarter eagle with capped bust of 1834, BD-1, R.6, AU-55 PCGS: $144,000
• A half-eagle 1851-O MS-64 PCGS/CAC, Variety 2: $144,000
For complete auction results, visit www.HA.com/1347.