Friday, March 20, 2015

1875 $20 Liberty gold coin sold for $38,940

U.S. 1875 $20 MS64 Liberty Head gold coin sold for $38,940 in Michaan’s Auctions Rare U.S. Coins from the Estate of Barbara Hussey Riggins on March 6. The gold coin selling price more than 3 times the high price estimate of $10,000-12,000.

Liberty Head gold

Michaan’s coin and stamp specialist, Michael Rosenberg, recognized the piece as a star lot. Presale, he had made note of select U.S. Liberty coins in the auction, commenting, “The grading on these coins is very rare; their condition is exceptional, pristine. To find low mint pieces such as these in this condition is undoubtedly a collector’s treasure.”

The 325-lot sale virtually sold out, with a mere five lots remaining unsold and coin auction breaks $600,000 mark.

A succession of U.S. gold coins were top achievers at auction, with opening Indian Head lots starting the auction with a bang. In their order of performance was a 1909 $5 piece that sold for over 12 fold the high estimate for $15,340 (lot 1002, $1,000-1,200), a 1914 $5 coin that exceeded the high estimation over nine times at $11,210 (lot 1003, $1,000-1,200) and the auction’s two opening lots that each sold for over seven times the given high projection (lot 1000, $1,000-1,200, sold for $9,440 and lot 1001, $1,000-1,200, sold for $8,850).

The “gold rush” continued with lot 1156, a 1902 S $20 piece that achieved a price realized of $17,700 ($5,000-6,000), as well as two additional gold coins shy of doubling estimates at handsome figures of $11,210 each (lot 1147, $5,000-6,000 and lot 1148, $5,000-6,000).

Many coins at conservative price points in the sale also did quite well, most obviously evidenced in lots of Morgan dollars. Of particular note was lot 1314 at over five times the high estimate ($250-350, sold for $2,006). More than tripling estimations were 1878 groupings of Morgan dollars (lots 1296 and 1297, each $400-500, each sold for $1,534). Rounding out the Morgan offerings was also a lengthy list of lots that more than doubled projections, listed as numbers 1057, 1285, 1292, 1293 and 1294.

For general information please visit Michaan’s Auctions website