NGC-graded Norwegian Coin Sells for $432,000
Posted on 5/2/2018
A 17th Century Norwegian coin graded by Numismatic Guaranty Corporation (NGC) led the way at the Heritage Auctions' World Coins Signature Auction event in Chicago in April.
The 1666-FG Frederik III 3 Speciedaler, graded NGC VF Details, realized a jaw-dropping $432,000, far surpassing its pre-auction estimate. Bidding was intense because of the extreme rarity of 3 Speciedalers of Frederik III, who ruled Norway and Denmark from 1648 to 1670.
|1666-FG Frederik III 3 Speciedaler, graded NGC VF Details. Realized: $432,000
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Indeed, Heritage Auctions believes the price realized by this coin is the highest attained by any silver coin from Scandinavia. (NGC has graded tens of thousands of coins from Scandinavia, which includes Norway, Sweden, Finland, Denmark and Iceland.)
“NGC’s certification of this ultra-rarity helped to propel it to a record-breaking sum,” says Cristiano Bierrenbach, Executive Vice President of International Numismatics for Heritage Auctions. “The increased confidence that NGC certification gives to our bidders is demonstrated repeatedly in the prices realized by our auctions.”
The NGC Details (non-numeric) grade resulted from graffiti in cursive on the reverse side, which appears to read "Jens" and "Pham." This is the only example of this type offered in nearly 200 years.
The second-highest price realized in the Heritage Chicago sale was an 11-piece 1887 Victoria Proof set, certified by NGC, that realized $156,000, beating its pre-auction estimate. The coins in the set include a 3 pence, 6 pence, shilling, florin, half crown, double florin, crown, half sovereign, sovereign, 2 pounds and 5 pounds, all in high grades.
In a testament to the market's preference for NGC-certified world coins, nine of the top 10 lots in this auction were certified by NGC. Other highlights included: