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Sale 47
Lot 4488
1930-S $20 St. Gaudens. PCGS graded MS-64 PQ. CAC Approved. In PCGS holder 11617033. Lovely golden toning. A popular key date. Well struck and choice for the grade. The production run was a mere 74,000 pieces, helping to explain the low supply of coins available for collectors to obtain. There do not appear to be many abrasions that would bar this frosty double eagle from its lock-solid MS64 designation by the grading service. Since it is a near-Gem we encourage one and all to formulate a strict market price. There will be no slipping through the cracks when it comes time for bidding. In addition to the coin's smooth features, both sides reveal a precision strike that conforms well with what we know about other 1930-S $20 gold pieces, that this date was more carefully produced than other S-mint twenties in the Saint-Gaudens series and that few escaped into the channels of commerce. Identical to other issues in the late 1920s and early 1930s, this was a heavily melted year. Like the 1929, 1931, 1931-D, and 1932 from the standpoint of total number of coins known, the amount saved was drastically reduced after the great gold seizure by the Federal government in mid-1933 (approximately $2.8 billion in gold valued at the then $20.67 per ounce fixed price). Pop 20; 13 finer; 8 in 65; 5 in 66. (PCGS # 9191) .
Estimated Value $120,000 - 130,000.
Ohringer Family Trust Holdings.
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Lot 4709
1799 $10 Capped Bust. Small obverse stars. . BD-7, Breen-6840, T-19. NGC graded MS-64. Lovely light golden toning on both sides. Frosty and well struck. The fully brilliant lovely gold luster easily approaches Gem level elegance. The surfaces have a few very minor abrasions, strictly speaking this is consistent with or even slightly improving on the numerical grade. Slightly weak on the central hair that resides below the edge of the cap Liberty's head. The reverse, for its part, shows not the least little softening in the major details, with all of the eagle's wing, chest, and tail feathers nicely defined, and the shield stripes, both vertical and horizontal, completely represented. The present specimen is among the top survivors, and certainly qualifies as a "must own" specimen for a collector who is assembling a world-class set of American gold coins. Pop 4; None finer at NGC. (PCGS # 98562) .
Die notes: Star size varies for the obverse and reverse on many 1799 varieties. Eight of the ten 1799 varieties use small obverse stars. The other two 1799 varieties, as well as those of the rest of the series (1800-1804), have large obverse stars.
Estimated Value $120,000 - 130,000.
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Lot 4490
1932 $20 St. Gaudens. NGC graded MS-66. NGC serial #1508325-003. Lovely shades of golden and orange toning. A rare date. What is most noticeable when one first examines this coin is its vibrant mint luster -- it swirls from side-to-side unimpeded by noticeable abrasions and unscathed by even a hint of tarnish. A coin of singular beauty and importance to the collector. We have mentioned the luster. In winding down this description, we point to it being a strongly struck coin, with sharp detail to all the important high points. The 1932 Saint-Gaudens is a modern day rarity whose numbers have not been increased over the years by hoards or European stockpiles as have other dates in the series. There were 1.1 million pieces struck. This is a fair number, given the increased pressure on the banks for gold coins for hoarding as the year 1932 went along and the worldwide bank panic spread throughout America. All the same, only a few score exist today in all grades, mainly bagmarked MS61 to MS63. The 1932 is a member of a very select group, not unique, but certainly exclusive among the 1929-32 club of rare dates, a string of $20 issues whose numbers were nearly all melted down. Most coin collectors and non-specialists have never seen one of these coins. Most would mortgage their mother-in-law to Countrywide Bank if it would provide the funds to bid on it. It goes without saying these only appear for sale in major public auctions. Pop 10; 3 finer in 66 Star. (PCGS # 9194) .
Estimated Value $110,000 - 120,000.
Ohringer Family Trust Holdings.
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Lot 4476
1899 $20 Liberty. NGC graded Proof 65 Ultra Cameo PQ. CAC Approved. A beautiful gem proof. Mostly untoned. Only 84 Struck. An resplendent "Ultra Cameo" Gem Proof with incomparable contrast between the smooth mirror field and extra frosty, lustrous devices. This piece has rich shades of golden color and is appreciably nicer than most surviving 1899 Proofs. As expected, the coin is fully and boldly detailed. Every individual design feature detailed as intricately as it was on the original die. The stars are needle-sharp. The surfaces pristine and virtually perfect with only here and there a microscopic hairline regulating the grade. There is no evidence of any pedigree markers to help establish the provenance of this coin, but then again, how could there be? So we provide its NGC serial number: 1819891-001.
When the board of directors, or whoever it was at the Mint, was arranging to vote on the use of Longacre's third Type mofits in 1877, they selected a design that has stood the test of time for balance, artistic merit, conservative traditions, and just plain beauty in the eyes of 21st century numismatics. This lovely 1899 Liberty head $20 gold Proof is the shining example of that spark of genius in their systems for choosing a final design. Pop 3; 4 finer; 1 in 66; 3 in 67. (PCGS # 9115) .
Estimated Value $70,000 - 80,000.
Ohringer Family Trust Holdings.
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Lot 4133
1895 Morgan Dollar. NGC graded Proof 66 Cameo. CAC Approved. Only 880 proofs struck. Natural uniform golden sunset toning that delicately deepens about the peripheries. A magnificent specimen this deepens into violet and blue iridescence in margin, all arising from the central brightness. It has been observed by numismatists that out of all Morgan silver dollar dates and major varieties, the 1895 has far and away the most prestige. First, fewer than a thousand Proofs were struck. Then, it seems no circulation strikes were issued at all. Whether or not the often-quoted figure of 12,000 business strikes is applicable has been seriously debated. As such, possibly as few as 600 to 700 Proofs are in collector's hands, the remainder having disappeared. Most, as the population figures given at the end of this description show, are lesser grade specimens. And what is more unfortunate, many have been dipped or subsequently hairlined to make them below "Choice" quality. The present spectacular Cameo Proof 66 coin is pristine and decidedly beautiful. For the money a coin certified as Proof 66 with the eye appeal offered here is the best value around.Pop 13; 18 finer, 11 in 67, 7 in 68 (PCGS # 7330) .
Estimated Value $65,000 - 70,000.
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Lot 4472
1861-S $20 Liberty. Pacquet reverse. PCGS graded AU-53 PQ. CAC Approved. In PCGS holder 10963669. A very rare coin and missing in most collections. Lightly toned. One of the classic rarities of the series, this beautiful About Uncirculated 53 coin will be long remembered by specialists. Smooth, even wear, it has far fewer abrasions than usually encountered for the grade. The fields retain luster, and the strike is complete and balanced. Free of annoying rim marks, too, or other circulation-related problems, this coin will no doubt enthuse the experienced numismatist who appreciates such quality in the early double eagles.
The internal politics within the Philadelphia Mint continued unabated when 1861 rolled around. Mint Director Snowden and others seemed to dislike Chief Engraver Longacre, and actively worked to undermine his authority. One such attempt was this new reverse die engraved by Anthony C. Paquet, the reverse letters were taller and more narrow than on the Longacre design. The new design was briefly accepted, but when a few were coined it was realized that there was insufficient room for the border, thus the design elements would wear quickly, and the Philadelphia Mint stopped production. Mint Director Snowden cabled the San Francisco Mint and asked them to use the old leftover dies rather than the new Paquet reverse, but 19,250 had already been coined. These Paquet reverse double eagles were released into circulation, along with the regular dies coins. In 1937 A. J. Fecht finally noticed the reverse die, and called it a pattern in The Numismatist 3/37 page 199. It wasn't until 1951 that the archives were examined and the story behind this reverse die came to light. Most of the survivors came from Europe and are heavily bagmarked.
The Paquet pieces are generally referred to as having "taller letters," than the coins struck from Longacre-produced dies. There were more changes than this made by Paquet, with the letter size being relatively minor. The scrolls and eagle are larger, and placed closer to the denomination; the eagle's head has been remodeled, while the ring of stars is widened with the rays removed from within it. In the process of enlarging the shield, Paquet seems to have made an error: he put 17 horizontal lines, thus creating a 16-stripe shield instead of the official United States 13-strike one. Pop 10; 7 finer, 5 in 55, and 2 in 58 (PCGS # 8936) .
Estimated Value $75,000 - 85,000.
Ohringer Family Trust Holdings.
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Lot 4408
1795 $5 Capped Bust. Small eagle. . S over D in STATES. BD-6, Breen-6414. Rarity-5. PCGS graded MS-61. Encased in PCGS holder 50140270. Untoned with semi reflective surfaces. Approximately 60 to 80 examples are known in all grades of the intriguing S over D BD-6 variety half eagle of 1795. Easy identifiers are the flag of the 5 in the date is halfway over the drapery, while the tip of the 1 is free of the curl (only obverse used with this combination). This die pairing is the second, and final, use of the blundered reverse die and is the one most often seen in high grades. However, the shattered state of both dies indicates a single production run for this variety. The damaged dies, according to Dannreuther, account for the retirement, as with all early Mint issues. "This curious reverse die possibly was the result of either alcohol or a late night party, as the die sinker made numerous slips while preparing this reverse," notes Dannreuther, half jokingly. "The spikes from the dentils are also seen on this obverse die, as well as the previous obverse die [BD-5], although they are not as plentiful as seen on the reverse."
What needs to be discussed is the coin's outstanding state of preservation. Well detailed for this more difficult early gold Type, with bright greenish golden color. The color adds considerably to the appeal of the reflective fields and frost-hardened devices. Clockwork precision seen in the detail of the hair and eagle, as well. Full, problem free rims on both sides, no mischief ever occurred to this coin, and even making up for a few slight marks and hairlines, it would be hard to find another similarly-graded example to compete with this coin. Probably the only hope for bidders lies in the fact that courage and determination will see the bidding through to the end. When once we have sold this piece, the sale will verge on history, with limited opportunities to acquire another such specimen. The individual who buys it will give endless enjoyment to his friends by its display and discussion. Pop 18; 47 finer, 29 in 62, 10 in 63, 6 in 64, 2 in 65 (PCGS # 8066) .
Estimated Value $70,000 - 80,000.
Ohringer Family Trust Holdings.
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Lot 4412
1807 $5 Capped Draped Bust. Bust left. . BD-8, Breen-6453, Miller-101 (feather tip points to op of 5). NGC graded MS-65. In NGC holder 1847930-001. BD-8, Rarity 2. Only 32,488 pieces struck. A splendid gem example sharply impressed on a problem-free planchet. Shimmers with undisturbed frosty mint luster. This outstanding Capped Bust Half Eagle glows with light yellow-golden colors. The immensely pleasing color, luster and strike definition combine in this one small gold coin to produce great aesthetic beauty! The average half eagle this year comes to market bearing a world of troubles like dullish luster, hairlines, or too many handling marks. However, the parent of them all has to be the Gem BU example offered here. Everybody wants one. We will say that the most eminent buyer in the room, after the ballet of bidding has ended, will decide the coin's next ownership. Bidding on this coin will require a different sphere for the concentration of the bidder's talents. We expect to see a little drama in the room, in fact, as the bid cards fly and the hands wave. The fine overworked gentleman at the dais will no doubt be left speechless and drained of energy once he calls the final bid to the high bidder. Pop 3; 2 finer in 66 (PCGS # 8101) .
Die notes from the Dannreuther book: "This is by far the most seen variety of the two for this year -- Bass owned four coins of this variety… This is the final use of this obverse, but the reverse die is combined with two overdated and one normal obverse in 1808." (In later years, most dated dies were destroyed after the year ended. By the latter part of the 19th century, this destruction of dated dies was mandated by Mint officials to prevent restriking or overdating of rare issues.).
Estimated Value $80,000 - 90,000.
Ohringer Family Trust Holdings.
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Lot 4421
1820 $5 Capped Head. Square base 2. . BD-3, Breen-6476, Miller-129. NGC graded MS-65. In NGC holder 1634525-001. J.D. notes 50-65 examples known in all grades. Boldly struck throughout. A splendid frosty mint gem. Light yellow golden color that deepens slightly about the devices. Incredibly lustrous gem fields with uniform satin frost and the bare minimum of surface marks. Under close inspection, the fields and devices reveal the texture of smooth frosted glass, but of a brilliant golden color, finely granular, pretty as anything imaginable. This specimen is free of toning. It is free of toning spots as well, that bane of all rare high-grade 19th century gold rarities. Identifiers are few and insignificant: a tiny mark in the reverse field below R of PLURIBUS; a small shallow dot below M of AMERICA and a little curled lint mark depression below M of UNUM. As far as the key striking sharpness is concerned, the central devices are finely detailed on both sides, with Liberty's hair curls complete, and crisp details throughout the eagle's feathers, the stripes of the shield, legends, arrow points, and feathers, dentils, etc.
Large letters reverse style with defective Ts, each having a small notch at the right juncture of the foot and stand. An interesting characteristic shared with other reverse dies for this and other years through 1826. No die cracks are seen. Pop 5; 2 finer, 1 in 65 star, 1 in 66 (PCGS # 8125) .
Die notes: on BD-3, star 1 is distant from Liberty's bust, while star 13 is near (but not touching) the curl; an arrow points to the right foot of R on the reverse. A scarce variety, it is the most available Square Base 2 die pairing and for the entire year, as the five varieties of curved base 2 are all rare to exceedingly rare. It is estimated that 50 to 65 are known in various grades, mainly circulated to low-end Mint State. According to Dannreuther, "The reverse die must have suffered a fatal injury, as this was the only appearance. The obverse die remained intact and was used for the next variety (BD-4)."
Estimated Value $80,000 - 85,000.
Ohringer Family Trust Holdings.
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Lot 4437
1870 $5 Liberty. NGC graded Proof 66 Cameo. Housed in NGC holder 1551341-004. Brilliant untoned golden surfaces. A very rare date in the long Liberty Coronet half eagle series that spans the years 1839 to 1907. The 1870 issue had for decades certainly been overlooked by specialized collectors (although a few wise "name" collectors from the last century saw its potential). Today, the 1870 Proof is widely recognized for what it is, an opportunity that should not be ignored! Only 35 Proofs were originally sold to collectors, and while Akers and others fail to give indication for the numbers of survivors, Breen estimates that perhaps a dozen survive today. We believe there may be even fewer than a dozen, and we quote Akers concluding comment about this date, "…very rare and for some unknown reason [1870 Proofs] have appeared at auction less often than similar or lower mintage Proofs of many other dates." When one turns to the certification services, their data further reinforces this belief as most have been certified no higher than Proof 63 or Proof 64 by PCGS or NGC.
Included in the short roster are: (1) Scanlon:2334 (Stack's 10/73), described as "flawless," and bringing $4,400. Later this piece appeared in Bowers' 11/2000 Bass IV:504 where it was graded PCGS Proof 64 (2) Garrett 3/76:430, realized $5,000, possibly reappearing in Bowers 9/95:1418, again as PCGS Proof 64 (3) Carter:683, $13,200 (4) Clapp, Eliasberg, Trompeter (5) Heritage 8/95:7818, PCGS Proof 63 with several lint marks in lower left of reverse, $17,600. The Trompeter coin, not auctioned at the time (only the gold dollars through $4 gold pieces were sold in 1992) later was placed by private treaty. This gorgeous Gem Proof 66 Cameo specimen may even be the Clapp, Eliasberg, Trompeter piece reappearing after many years. A candidate for "Finest Known". Pop 1; none finer In fact NGC reports the second finest graded as Proof 64 (PCGS # 8465) .
Estimated Value $65,000 - 75,000.
Ohringer Family Trust Holdings.
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