1907 Rolled Edge Eagle Brings $2.185 Million in Heritage $53 Million FUN Auctions

Posted on 1/18/2011

Part of $62 million+ Heritage "First Week" Auctions, including $7.74+ million FUN Currency Auction and $9.28 million NYINC World & Ancient Coin Auction.

[TAMPA, FL] — Collectors at Heritage’s $46 million+ Tampa, Fla., FUN US Coin Auction, Jan. 5-9, kept their focus on rare gold over the course of the four days – especially during the Thursday, Jan. 6, Platinum Night offerings – a sector led by the $2.185 million sale of the Frank A. Leach Specimen of the 1907 Rolled Edge eagle, Satin PR 67 NGC, from the Colonel George M. Monroe Collection. All prices include 15% Buyer’s Premium.

The $46 million total of the auction was the lion’s share of Heritage’s $62+ million January numismatic auctions, combined with the $7.74+ million US Currency Auction, also at FUN, and the $9.28 million Heritage World & Ancient Coin auction, Jan. 3 in New York. More than 6,700 collectors vied for the 6,701 lots in the US Coin Auction’s Signature® and Platinum Night sessions, translating into almost 1900 successful bidders, or a 95% sell-through rate by both value and lot total.

“Very solid results, across the board,” said Greg Rohan, president of Heritage Auctions. “Rare and singular gold, both of which were in abundance in this auction, continue to dictate pace and price of the market. We put together a superb auction and collectors responded with exuberance.”

The 1907 Rolled Edge eagle, PR 67, the Frank A. Leach Specimen, which descended in the family of the former Mint Director’s second wife, proved itself when it sold for $2.185 million to applause in the packed auction room. The example was one of five gold coins in the auction that once belonged to Leach, and it quickly established itself as a monumental coin ranking among the most important individual specimens in 20th-century American numismatics.

“It’s hard to say, unequivocally, that this coin is a pattern,” said Rohan, “but the price would seem to indicate that several top collectors in the world believe it is. This is only the ninth US coin ever to sell for more than $2 million at public auction.”

The famous 1795 S-79 Reeded Edge cent, Fine Details NGC, the Newcomb-Hines-Sheldon Specimen, was the top non-gold coin in the auction, realizing $431,250. Last publicly offered in 1977, it is one of just eight known examples and is among the most coveted coins in American numismatic collecting circles.

“While recent years have seen a relative flurry of 1795 S-79 cents, with four showing up at auction since 2008,” said Rohan, “prior to that, one of these had shown up at auction only 21 times in the past 146 years, or once every seven years, making this a rare opportunity indeed.”

An incredible 1887 Liberty double eagle, PR67+ Cameo NGC, the finest certified example of the issue and one of the finest proof Liberty double eagles regardless of date, rounded out the top five offerings in the Platinum Night auction. An impressive $402,500 final price sent the coin, part of the Henry Miller Collection, home with an advanced collector.

Further highlights include, but are certainly not limited to:

1864 double eagle, PR 65 Ultra Cameo NGC: Perhaps fewer than 10 proofs of this ultra rare gold denomination are available. Realized: $359,375.

1933 eagle, MS 65 NGC: A world-class rarity. Realized: $359,375.

1795 Small Eagle half eagle MS 65 Prooflike NGC. Breen-6414, BD-6, R.5: An amazing Gem Prooflike coin among the early Mint’s most interesting products. Realized: $345,000.

1804 quarter MS 65 NGC. B-1, R.3. Ex: Colonel Green: The single finest certified 1804 Bust quarter. Realized : $325,000.

1795 13 Leaves eagle MS 64 NGC. Breen-6830, Taraszka-1, BD-1, High R.3: A monumentally important coin in both aesthetic and historic terms. Realized: $322,000.

Heritage Auctions, headed by Steve Ivy, Jim Halperin and Greg Rohan, is the world’s third largest auction house, with annual sales more than $600 million, and 500,000+ online bidder members. For more information about Heritage Auctions, and to join and gain access to a complete record of prices realized, along with full-color, enlargeable photos of each lot, please visit www.HA.com

The thoughts and opinions in the piece are those of their author and are not necessarily the thoughts of the Certified Collectibles Group.

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