NGC-certified Eric P. Newman Part III Realizes $6.1 Million
Posted on 1/22/2014
More than 1,900 NGC-certified world coin selections from the Eric P. Newman Collection, Part III, were sold by Heritage Auctions January 14-16 for an impressive $6,089,175—easily exceeding the presale high estimate of $3.7 million. NGC was chosen by Eric P. Newman Numismatic Education Society to certify the first three parts of the collection, which have achieved total results of nearly $34 million at auction.
Eric P. Newman, who turns 103 in May, is considered one of the greatest numismatic researchers and writers of all time. While best known for his works on US coins, Newman was keenly interested in coins from around world, a passion that was driven by his love of travel. Together with his wife Evelyn, Newman has visited more than 150 countries, an accomplishment that is reflected in the remarkable diversity of his world coin selections.
Several extraordinary rarities topped the Newman Part III results. The highest price was realized by the likely unique Austria 1612 Salzburg 14 Ducats, graded NGC AU 58, which sold for $211,500.
Another significant rarity in the sale was the NGC MS 66 Germany 1674 Emden City Leopold I Two Taler. The only known example of its type, it realized $111,625. Also from Germany was the 1672 Saxe-Altenburg Gold 10 Ducats in NGC AU 58. It sold for $105,750, or nearly double its presale estimate.
The elusive Russia 1729 Peter II Gold Ducat brought one of the sale’s most significant results. Graded NGC AU 50, it realized $205,625 on a presale estimate of $45,000 to $65,000.
“The importance of the Eric P. Newman Collection cannot be overstated,” said Mark Salzberg, chairman of NGC. “Records continue to be smashed as collectors and dealers recognize that the sale of these selections is a once-in-a-lifetime numismatic event.”
Newman Part III boasted a number of other pieces that sold for multiples of their presale estimates. Additional highlights include: a Norway (1670-99) Two Ducats graded NGC VF Details that sold for $70,500 on an estimate of $15,000 to $20,000, a Canada 1884 Cent in NGC SP 65 RB that realized $55,812 on an estimate of $8,000 to $10,000 and an Italy 1796P Pattern 10 Tornesi that sold for $52,875 on an estimate of $2,000 to $2,500.
EPNNES Foundation Statement Items being sold are from the extensive collection of Eric P. Newman Numismatic Education Society (a Missouri not-for-profit corporation) and have been assembled over a period of 90 years. Proceeds of the sale of all items will be used exclusively for supplementing the Society’s museum operations and scholarly numismatic research efforts and for the benefit of other not-for-profit institutions selected by Eric P. Newman Numismatic Education Society for public purposes.