Collectors from all over the world descended on New York City Jan. 2-3 to take part in Heritage’s world and ancient coin sale at the Waldorf-Astoria hotel coinciding with the New York International Numismatic Convention, where more than $9.28 million was realized. The total includes a 15 percent buyer’s premium.
“What the overall results of this auction show is the continued steady strength in the world and ancient coin market,” said Cristiano Bierrenbach, vice president of International Numismatics at Heritage.
“Chinese coins continue to perform phenomenally at auction with South American rarities bringing strong prices as well.
We also saw a definite uptick in interest in ancient coins in this auction, likely due to Heritage’s redoubled focus on this area.”
The top lot in the auction was the massive 10-kg (22-pound) Beijing Olympics gold 2008 100,000 yuan, Gem Proof. The coin, struck to commemorate the first Olympic Games in China, brought $575,000.
“The Beijing Olympic 100,000 yuan is one of the world’s largest issued gold coins with 10 kilograms of pure 24K gold,” said Bierrenbach. “That’s 321.17 ounces. Out of the only 29 pieces minted, seven were for export out of China and this piece, number 21, was the only one officially allocated to the U.S. market in 2008.”
Two important South American coins competed for collector attention on their way to realizing the same price of $103,500. The first, a rare early Brazilian gold coin, a Pedro Regent Prince 4,400 reis counterstamped over Portuguese 4 cruzados graded AU-50 by Numismatic Guaranty Corporation, is one of just a handful known and the first of its kind to come up for auction in the U.S. The second is a gold “Sunface” Provincias de Rio de la Plata 1813-J 8 escudos, which is Argentina’s first independent gold issue.
High quality Russian coins are always highly sought-after and a Choice Uncirculated 1720 Peter I rouble graded MS-64 by NGC did not disappoint as it rose amidst steady bidding to finish the auction at $57,500. A 1937-R Vittorio Emanuele III gold 100 lire graded NGC MS-65, one of only 249 such coins minted following the Italian conquest of Ethiopia, depicting a Roman carrying the fasces symbolic of the Italian government, realized $48,875. With the issue of this coin, Vittorio Emanule III added the title of Emperor to his stature as King.
A trio of ancient coins captured serious collector attention as they all exceeded pre-auction estimates: a Gela. (ca. 415-405 B.C.E.) AR tetradrachm (17.22 grams), among the finest known examples of this unique reverse type ancient coin, represented by only a single die; a Ptolemy VI-Ptolemy VIII (145-116 B.C.E.) AV mnaieion or oktadrachm (27.75 grams); and a Carthage, Time of Hannibal Barca (ca. 221-201 B.C.E.) AR shekel (6.07 grams), Second Punic War issue, Carthage or uncertain mint in Sicily, one of five or fewer in existence, all realized $46,000.
Adding credence to the ever-strengthening Chinese coin market was the sale of a 1914 Chinese Republic silver dollar, KM-Y322, L&M-858, graded MS-66 by Professional Coin Grading Service. Coming in with an estimate of $4,000-plus, it ended up selling to a determined bidder for $23,500.
“This is a coin that, five years ago, was selling for $1,500 and up,” said Bierrenbach. “The fact that it went for almost six times pre-auction estimates sends a very clear signal that Chinese coins are very strong in the market right now.”
Rounding out the top offerings of the auction was an Empress Zauditu silver Pattern Birr EE1917 (1925), the last Ethiopian emperor or empress before the controversial and famous Ras Tafari, who later became Emperor Haile Selassie, brought $43,125. A rare 1714 Peru cob gold 8 escudos of Jamaican origin realized $40,250. This coin is one of only two known.
Source: http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=17484
“What the overall results of this auction show is the continued steady strength in the world and ancient coin market,” said Cristiano Bierrenbach, vice president of International Numismatics at Heritage.
“Chinese coins continue to perform phenomenally at auction with South American rarities bringing strong prices as well.
We also saw a definite uptick in interest in ancient coins in this auction, likely due to Heritage’s redoubled focus on this area.”
The top lot in the auction was the massive 10-kg (22-pound) Beijing Olympics gold 2008 100,000 yuan, Gem Proof. The coin, struck to commemorate the first Olympic Games in China, brought $575,000.
“The Beijing Olympic 100,000 yuan is one of the world’s largest issued gold coins with 10 kilograms of pure 24K gold,” said Bierrenbach. “That’s 321.17 ounces. Out of the only 29 pieces minted, seven were for export out of China and this piece, number 21, was the only one officially allocated to the U.S. market in 2008.”
Two important South American coins competed for collector attention on their way to realizing the same price of $103,500. The first, a rare early Brazilian gold coin, a Pedro Regent Prince 4,400 reis counterstamped over Portuguese 4 cruzados graded AU-50 by Numismatic Guaranty Corporation, is one of just a handful known and the first of its kind to come up for auction in the U.S. The second is a gold “Sunface” Provincias de Rio de la Plata 1813-J 8 escudos, which is Argentina’s first independent gold issue.
High quality Russian coins are always highly sought-after and a Choice Uncirculated 1720 Peter I rouble graded MS-64 by NGC did not disappoint as it rose amidst steady bidding to finish the auction at $57,500. A 1937-R Vittorio Emanuele III gold 100 lire graded NGC MS-65, one of only 249 such coins minted following the Italian conquest of Ethiopia, depicting a Roman carrying the fasces symbolic of the Italian government, realized $48,875. With the issue of this coin, Vittorio Emanule III added the title of Emperor to his stature as King.
A trio of ancient coins captured serious collector attention as they all exceeded pre-auction estimates: a Gela. (ca. 415-405 B.C.E.) AR tetradrachm (17.22 grams), among the finest known examples of this unique reverse type ancient coin, represented by only a single die; a Ptolemy VI-Ptolemy VIII (145-116 B.C.E.) AV mnaieion or oktadrachm (27.75 grams); and a Carthage, Time of Hannibal Barca (ca. 221-201 B.C.E.) AR shekel (6.07 grams), Second Punic War issue, Carthage or uncertain mint in Sicily, one of five or fewer in existence, all realized $46,000.
Adding credence to the ever-strengthening Chinese coin market was the sale of a 1914 Chinese Republic silver dollar, KM-Y322, L&M-858, graded MS-66 by Professional Coin Grading Service. Coming in with an estimate of $4,000-plus, it ended up selling to a determined bidder for $23,500.
“This is a coin that, five years ago, was selling for $1,500 and up,” said Bierrenbach. “The fact that it went for almost six times pre-auction estimates sends a very clear signal that Chinese coins are very strong in the market right now.”
Rounding out the top offerings of the auction was an Empress Zauditu silver Pattern Birr EE1917 (1925), the last Ethiopian emperor or empress before the controversial and famous Ras Tafari, who later became Emperor Haile Selassie, brought $43,125. A rare 1714 Peru cob gold 8 escudos of Jamaican origin realized $40,250. This coin is one of only two known.
Source: http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=17484
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