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Sale 62
Lot 1413
1796. 16 stars. PCGS graded MS-64. Well struck with gorgeous reflective surfaces throughout. Only 1 finer which is graded MS66 in a Texas collection. The finest example we have ever handled in 50 years. The gorgeous Mint State coin offered in this sale is part of the illustrious, and very rare draped bust, small eagle series of early half dollar. This Type consists of only two dates, 1796 and 1797, each of which is represented by two die varieties. The 1796 issue with 15 obverse stars is Overton 101, that with 16 stars is categorized as Overton 102. The 16 stars coin was said to be made after the admission of Tennessee to the Union on June 1, 1796. Tennessee became the 16th state, hence, 16 stars.
Curiously, all 1796 and 1797 half dollars are thought to have been minted in 1797 as part of three deliveries. Mint records show that the first delivery was made on February 28, 1797 (60 coins), the second delivery on March 21 (874 coins), and the final one on May 26 (2,984 coins). Breen (Complete Encyclopedia of U.S. and Colonial Coins), makes the assumption that the February delivery contained those with 15 stars; while the coins minted in March included some 1796 with 15 stars and others with 16 stars (Later production in May consisted mostly of 1797-dated pieces but may have included the last of the 1796's with 16 stars.)
Fewer than 4,000 small eagle half dollars were struck in 1796 and 1797 combined. Of these, no more than 5% exist in collectors' hands or in museum collection, the vast majority of which show extensive wear, often with retooling or plug-filled holes. This piece compares favorably with the very best survivors, and it is not far removed from the finest 1796 half dollar, the MS-66 graded by PCGS that now resides in a well known collection that may never be sold. A shimmering, pewter-gray to steel toned coin radiating mint prooflike glow on gorgeous almost medallic-gem quality silver surfaces. There are some adjustment marks criss-crossing the eagle's breast. Sharp detail on all devices is typical for this issue; however, with present Mint State 64 we see a wonderful crisp strike found on the stars, hair curls, and Liberty's drapery. The eagle, barring the inconstancies of the adjustment lines, shows great depth of detail, as do the supporting branches of the wreath, with laurel represented at the left, and a palm branch on the right. A marvel of preservation! Pop 1; 1 better in 66. Only 2 Mint State examples graded by PCGS (PCGS # 6058) .
Estimated Value $300,000-UP.
Ex: ANR's 3/2004 Haig Koshkarian Collection.
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Lot 66
1843 N-14 R6+ Proof-Only. PCGS graded Proof 64 Red & Brown. Medium brown with steel brown highpoints and 15% of the mellowed mint red remaining on the obverse, 30% on the reverse. The fields are nicely reflective with moderate to deep mirrors. There is an area of iridescent bluish steel and rose tones around star 11, a question mark-shaped struck through line above star 4, and a tiny planchet fissure on the rim left of that star, as struck. Sharply struck with excellent eye appeal. Called Proof-64 and CC#2 in the Denis Loring census. Our grade is Proof-63, tied for CC#2 in the Grellman census. Either way this example is one of the finest known of this very rare proof-only variety. And it has passed through the hands of several prominent large cent specialists. The attribution and Dan Holmes provenance are noted on the PCGS label. PCGS population 1; the only Proof graded at PCGS for the variety. DWH #1855 (PCGS # 408565) .
Estimated Value $10,000-UP.
Ex Richard Picker 6/1/1955-Willard C. Blaisdell 9/76 (via Del Bland)-R. E. Naftzger, Jr. 3/77-Jerry Bobbe-Richard Burdick 1985-R. E. Naftzger, Jr., 1990 EAC Sale, lot 298-Denis Loring-R. S. Brown, Jr. 4/17/99.
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Lot 1443
1839-O. NGC graded Proof 65 Robison. Needle sharp. Georgeous irridescent hues of violet and blue. Exceedingly rare branch mint Proof. Not listed by PCGS. Rarity-7. One of five or fewer known. A fantastic example of this extraordinarily rare branch mint Proof. The surfaces are, expanding on the above, richly toned in shades of iridescent blue and dark champagne color with traces of delicate green and purple-laden russet all blended together. There is not a thing to report that would tend to limit the technical grade, and, as the photographs clearly show, the coin's overall appeal its tops in its class. For identification, there is a minute nick below Liberty's chin at the upper throat. The coin is encased in NGC holder with certification number 1720540-001. (See the Population statistics below.)
The piece is struck with the one die pairing found on the other Proofs as well as most of the circulation 1839-O mint half dollars. In this early Proof state the obverse shows no indications of a later die crack that developed through the stars. The Mintmark is bold, as well as being double-punched along the lower curve. Although apparently both dies cracked very early in the production run of the Branch Mint Proofs, with the 1838-O coins being struck from this same reverse die (prior to the striking of the 1839-O Proofs), this example shows no signs of die deterioration. It may have been one of the first 1839-O Proofs minted.
The Breen Encyclopedia (1988) lists "5 known Proofs." Stack's which offered a "Choice Brilliant Proof" 1839-O in its October 2006 sale, kindly provides the following up-to-date provenance listing of the 4 known specimens as derived from Breen's earlier Proof Encyclopedia (1977):
1) Ex Stack's Sale, September 1992, lot 358; Krouner Collection (Lester Merkin, February 1971, lot 736); Stack's Sale, October 2006.
2) Proof, deeply toned. Planchet defect over eagle's head. F.C.C. Boyd ''World's Greatest Collection'' (Numismatic Gallery, May 1945, lot 411; Allenburger Collection (B. Max Mehl, March 1948); R. E. Cox Collection (Stack's, April 1962, lot 1875).
3) Reported by Breen in Philip G. Straus Collection (1951). Not later sold in New Netherlands #53, June 1959 or Stack's, May 1959. Not seen. Medal turn die alignment.
4) This Specimen. Private collection, possibly #1 or #3 above or another specimen--Robison Collection (Stack's, February 1982, lot 1607).
Pop 1; none finer. Only 4 proofs graded by NGC.
Estimated Value $200,000-UP.
Ex Stack's 2/1982 Robison Collection, Lot 1607.
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Lot 171
1846 N-24 R7+ Tall Date Proof-Only. PCGS graded Proof 65 Red & Brown. Bright blazing mint red just starting to mellow to bluish steel on the highpoints. The only defects are a small, faint spot of slightly lighter toning under star 2 and a microscopic speck between two dentils under star 13. Otherwise the best identifying marks are some mint-made struck-through flaws, including an extremely fine lint line that meanders to the left from star 10, a tiny flake void in the center of the diagonal of the N in ONE, and a tiny planchet chip under the U in UNITED. The planchet is very thick, as always seen on the very few tall date proofs. Finest of only 5 known of the Tall Date proof, and 2 of those are impaired. A fantastic cent in every respect and a highlight of this remarkable collection. Called Proof-68 by Bland and Proof-64 by Loring. Our grade is Proof-66, CC#1 in the Grellman census. And the list of previous owners is one of the most impressive in the Holmes collection, which attests to the desirability of this cent. The attribution and Dan Holmes provenance are noted on the PCGS label. PCGS population 1; the only Proof Red & Brown example graded at PCGS for the variety. DWH #1863 (PCGS # 397612) .
Estimated Value $20,000-UP.
Ex Thomas Cleneay, S. H. & H. Chapman 12/9/1890:839-Peter Mougey, Thomas L. Elder 9/1/1910:1272-Dr. Henry W. Beckwith, S. H. Chapman 4/27/1923:106-William Festus Morgan, J. C. Morgenthau & Co. 6/16/32:352-T. James Clarke 1955 (via Abe Kosoff)-R. E. Naftzger, Jr.-R. S. Brown, Jr. 4/17/99.
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Lot 1273
1792 Half Disme in Silver with Reeded Edge Judd-7, Breen-1360. PCGS graded AU-55 PQ. Very attractive glossy light steel and gunmetal gray with lustrous bright silver in the protected areas. Subtle bluish steel overtones enhance the eye appeal of this outstanding piece. The obverse fields display a bit of reflectivity while the reverse fields are frosty. There are no marks on either side, just the barest hint of friction on the highest points of the portrait. The obverse is well centered on the planchet while the reverse is off a bit to the bottom, as usual. Struck in medal turn, head-to-head. While many of the surviving examples of our tiny Half Disme display obvious adjustment marks (where a file was used to remove a tiny amount of metal from an overweight planchet prior to striking), the planchet for this example is nearly flawless. A strong glass reveals a few faint adjustment marks in the center on both sides where there was not enough planchet metal to completely fill the dies. As a result the chest of the eagle is not filled out (which is also typical of these tiny pieces). The Half Disme has the distinction of being the first United States silver coin made for general circulation, although some researchers suggest these pieces may have been patterns for our initial silver coinage (hence the Judd-7 pattern designation). However, President George Washington stated in his fourth Annual Address of 6 November 1792, "There has been a small beginning in the coinage of half dismes, the want of coins in circulation calling the first attention to them." The fact that we encounter so many well-circulated examples today attests to their use in general commerce. George Washington provided the silver for these pieces, about $100 worth, that was used to produce approximately 1500 of these tiny Half Dismes (the remainder of the silver apparently being scrap). The planchets were prepared and delivered to the minting facility by Thomas Jefferson, and the coins were struck in the cellar of saw maker John Harper. Harper's tiny "mint" was located a few blocks from the first US Mint in Philadelphia, which was under construction at the time. It would be difficult to overstate the historic significance of these tiny United States coins, and this lot offers an outstanding opportunity to own a truly beautiful example. (For more details regarding the history and significance of these tiny coins, see the report written by Joel Orosz and Carl Herkowitz in the ANS American Journal of Numismatics #15 in 2003.) PCGS population 7; 21 finer.
Estimated Value $100,000-UP.
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Lot 3442
China. 500 Yuan, 1993. KM-509. Weight 4.9947 ounces. Mintage 99. Great Wall and building. Reverse: Chinese Gods: Fu, Lu and Shu, value below. Choice Brilliant Proof.
Estimated Value $7,000 - 9,000.
The Wayne Fowler Estate.
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Lot 2366
1915-S Panama Pacific $50 Round. NGC graded MS-65. Lovely light golden toning. Only 483 pieces struck. Exceedingly attractive, as one might expect given the Gem MS65 classification; though what really sets this coin apart from others is its powerful satin-smooth luster, the sort of sheen that twinkles over each side unaffected by blemishes or toning spots. We are doubly impressed by the coin's superb, convincing design detail in all areas of this important coin. Not even the slightest amount of flatness occurs on the key features!
Five coins comprise the Panama-Pacific group, in addition, there were complete sets mounted in metal frames or leather cases sold for $200. Many sales were made to banks and private individuals, so one would expect a fair number of high grade examples, especially of the two $50 "prestige" gold denominations. This is not the case. Gems are a challenge to find (see grading census below). The larger the denomination, it seems, the more difficult to locate. Some were presumably carried as pocket-souvenirs. When all was said and done, only 483 Round $50 gold pieces were sold. It can be stated authoritatively (though no separate accounts were kept in this regard) that many landed in the hands of the non-collecting public; others may have been melted after the federal government nationalized America's gold coins in 1933. We estimate there are 200 or so of the round $50 pieces left in existence.
Today the five different commemoratives of the Panama-Pacific International Exposition stand as the high-water mark of early 20th century American coinage. The $50 is unique in the U.S. federal system, both as to denomination at the time ($50) and dimensions (two and one-half ounces of 900 Fine gold). The creative talent goes to Robert Aitken, a noted sculptor and coin designer whose handiwork depicts Minerva, goddess of the harvest, wearing a Corinthian plumed helmet. An owl perched upon a pine branch occupies the reverse. It has been observed that the wisdom of owls is overrated. The specialists who trained Harry Potter's Hedwig and worked the various owls on the movie sets, said owls are little more than flying sharks -- sophisticated eating machines with only enough brains to get along with. But that is neither here nor there, since Minerva's owl on this lovely specimen is a golden and proud creation by the artist, making this one of the all-time favorite U.S. commemorative gold pieces. A resplendent way to memorialize the occasion is with this well struck MS65 Gem $50 Round gold coin. Pop 43; 27 finer.
Estimated Value $90,000 - 100,000.
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Lot 1640
1885. NGC graded Proof 69 Cameo. Star. Only 930 struck. Perhaps one of the finest pure white Proofs ever graded. How is it possible for us to impress upon readers the beauty, the serene quality of this most fantastic Cameo Proof Morgan Dollar? Both sides are sharply detailed with even the highest points of the design razor-edged including the hair strands above Liberty's ear. Richly frosted, the devices ascend in stark white prominence above the glassy deep of the fields. A black-on-white Proof is how numismatists would describe this coin's appearance. We can find no spots, nor hairlines, and neither do we see any other post-striking faults or shortcomings whatsoever. No planchet flakes occur; and what appears at first blush to be a sinister dark area on the chin isn't on the coin's surface after all, the coin is pristine. Rest assured: everything is brilliant, from the snow-white appearance of the frost to the way it explodes outward like a solar flare and into your field of vision. Worthy of inclusion in the Top Registry quality Proof Morgan Dollar set or date set. Pop 1; none finer at NGC (PCGS # 7320) .
Several noteworthy events occurred in 1885, the year of this remarkable Proof Silver Dollar. On February 21, 1885, President Chester A. Arthur dedicated the Washington Monument; on June 17, the Statue of Liberty arrived in New York Harbor. For soda drinkers, on December 1, 1885, the U.S. Patent Office acknowledged this date as the day Dr Pepper was served for the very first time (the exact date of Dr Pepper's invention remains unknown). And last but not least, in 1885, the first skyscraper (the Home Insurance Building) was built in Chicago, Illinois, USA (10 floors).
Estimated Value $60,000 - 70,000.
Ex: Divo Collection.
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Lot 2355
1930-S. PCGS graded MS-65. In a new secure plus holder. Well struck and delicately toned. The lovely natural golden toning on both sides improves the already expansive beauty of this Gem quality example. A very rare late date Saint-Gaudens double eagle. The production run was a mere 74,000, serving to give an explanation to the low supply of coins to be had by collectors. Always difficult to obtain. There do not appear to be many abrasions that would bar this frosty double eagle from its lock-solid MS65 designation by the grading service. It is really quite spectacular! Since it is a full-bore Gem we see no need to persuade one and all to prepare a strict market price. There will be no slipping through the cracks with this one when it comes up for bidding. Besides the coin's smooth features, both sides show 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. Identical to other issues in the late 1920s and early 1930s, this year was a heavily melted one. In the vein of the 1929, 1931, 1931-D, and 1932 from the standpoint of total number of coins known, the number saved was severely reduced after the great gold confiscation by the Federal government in 1933 (approximately $2.8 billion in gold valued at the then $20.67 per ounce fixed price).
As an MS65, the 1930-S is an extremely rare coin with very few pieces having been so graded by the major services. Of the highest order of rarity, this piece will be certain to spawn much interest at lot viewing and the price it finally realizes at the sale could be a revelation to many. Pop 7; 6 finer (PCGS # 9191) .
Estimated Value $170,000 - 190,000.
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Lot 4423
China. 200 Yuan, 1992. KM-436. Weight 32.117 ounces. Mintage 185. For the completion of 150 Yuan Lunar - Animal Coin Series. Choice Brilliant Proof.
Estimated Value $1,000 - 1,200.
The Wayne Fowler Estate.
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Lot 2365
1915-S Panama-Pacific $50 Octagonal. PCGS graded MS-64. Rich golden toning. Only 645 pieces struck. Lovely and agreeable color with every detail boldly struck. The Mint Act of January 16, 1915 authorized a fifty dollar gold piece along with a gold $1, gold quarter eagle, and a silver half dollar to commemorate the Panama-Pacific International Exposition scheduled to open in San Francisco that year. Proceeds from sale of these commemorative coins would help defray the cost of exposition. Several events were being commemorated, including the opening of the Panama Canal in 1914.
Both $50 gold designs (round and octagonal) were the achievement of Robert Aitken. Since many of them were purchased by wealthy individuals who were not necessarily coin collectors, it shouldn't surprise anyone to learn that a fair number of them were slightly handled by their owners or heirs. With this in mind, it is pleasing to offer this lovely very choice quality MS64. It is a perfect match any other in the same grade so there is no need to hesitate when bidding. The coin displays beautiful soft golden surfaces and radiates a pure satiny glow. No observable blemishes are noted, making this an impressive specimen for the well-heeled collector; one of the more remarkable issues in the U.S. Commemorative series. Pop 112; 20 finer at PCGS (PCGS # 7452) .
On the octagonal issue and only on this issue, there appear dolphins around the inner border at the 8 corners on either side. The artist, Robert Aitken, noted sculptor and coin designer, presents Minerva, goddess of the harvest, wearing a Corinthian plumed helmet. Aitken used a more thematic device for his reverse, an owl perched upon a pine branch.
Estimated Value $70,000 - 75,000.
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Lot 3126
The Jewish War, 66-70 CE. AR Shekel (14.00 g) dated Year 5 (April-August 70 CE). Temple vessel (omer cup?) with rim decorated with nine pearls; above, date and surrounding Palaeo-Hebrew inscription "Shekel of Israel". Reverse: Stem with three budding pomegranates; around, Palaeo-Hebrew inscription "Jerusalem the Holy". TJC 215a; H-1370a. Class II. As struck. Extremely Fine.
There are two distinct varieties, or classes, as they have been termed, of this most desirable shekel. Class I issues are those of traditional style and production found in extremely small numbers within hoards such as the Mount of Olives (1961) and those unearthed while excavations occurred at Masada (1963-1965). Probably the most famous of these is the Hunt specimen, found at Masada. This example is published in The Numismatic Legacy of the Jews (coin 94) and Wealth of the Ancient World. Another specimen (ex Reifenberg/Bromberg) was sold by Ira and Larry Goldberg at the Bromberg sale, Part II (10 XII 92), lot 389. There are very few of these class I shekels available, as most are impounded in public collections. Fewer than 15 exist of class I.
Differing in style, fabric, epigraphy, metallurgic analysis and unaligned dies are the 15 examples found within trays of the well-respected London dealers, A.H. Baldwin and Sons Ltd. These were brought to the U.S. to be sold by Numismatic Fine Arts of Beverly Hills. These class II types went through extensive SEM analysis (see the article by Herbert Kreindler in INJ 9). All class II pieces were produced by the same pair of dies.
Estimated Value $50,000-UP.
Harold Chopp Collection.
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Lot 3440
China. Platinum 100 Yuan, 1992. KM-411. Weight 0.9995 ounce. Mintage 100. Great Wall. Reverse: First seismograph. With certificate of Authenticity number 000027. Choice Brilliant Proof.
Estimated Value $1,400 - 1,600.
The Wayne Fowler Estate.
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Lot 3459
Costa Rica. 8 Escudos, 1828-CR-F. Fr-1; KM-17 (Cen.A.Rep). Radiant sun face over row of volcanos. Reverse: Tree on foliate ground, value on either side. Well struck with plenty of mint luster still intact. A lovely example that should stir considerable bidder interest.
This is a classic rarity in the Latin American series and is historically important as the first gold coin of an independent Costa Rica. NGC graded AU-55.
Estimated Value $40,000 - 50,000.
The Tico Collection.
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Lot 771
1794 S-20 R5 Head of 1793 with Straight Date. PCGS graded AU-50. Glossy chocolate and steel brown with darker steel brown toning on the highpoints and frosty lighter brown toning covering the protected areas on both sides. There is a tiny spot of darker reddish olive brown toning on the nose before the eye plus larger but more subtle splashes of similar reddish chocolate brown toning at TED, STA, OF, and in the dentils at RI in AMERICA. The surfaces are smooth and very attractive, virtually void of contact marks. The only notable sign of contact is a tiny rim bruise left of the bottom of the cap. Late die state, Breen state II, with a faint wave in the field from the chin to the rim at right. This is an outstanding example of a rare and very popular die variety, and it is arguably the finest example known outside the American Numismatic Society (ANS) collection. Bill Noyes calls this piece VF30 (Noyes photo #22590) and has it tied for CC#2 honors with one other piece behind the ANS example. Bland says VF25 and tied for CC#4 in his census, but a comparison of photos clearly supports the Noyes arrangement. Our grade is VF30. This cent was called EF45 by PCGS in an earlier assessment, but upon further review they have justifiably raised their grade to the currently assigned AU50. Noyes plated this example in his 2006 book on the series and Samuel Hudson Chapman used this piece to illustrate the obverse die in his 1923 monograph "The United States Cents of the Year 1794." And this cent comes with a long, very impressive provenance that includes many of the "heavyweights" of 1794 cent collectors. PCGS population 1 with none finer for the variety.
Estimated Value $40,000-UP.
Ex George Morris-Charles Steigerwalt 6/1891:897-Charles Steigerwalt FPL 1891-W. B. Guy, Henry Chapman 11/3/1911:351-Dr. George P. French-Henry C. Miller, Thomas L. Elder 4/13/1917:653-S. H. Chapman-J. P. Hale Jenkins, Henry Chapman 7/25/1922:1472-S. H. Chapman 4/1923, Addenda A-Henry Chapman-Dr. George P. French, B. Max Mehl FPL 1929:19-T. James Clarke 1944-B. Max Mehl 1944-Dr. William H. Sheldon-C. Douglas Smith 1965-Alfred Bonard, Numismatic Enterprises 2/68:23-R. E. Naftzger, Jr. 3/7/73-John W. Adams, Bowers & Ruddy FPL 1982:7-Denis W. Loring 5/7/83-Jack H. Robinson-Dr. Allen Bennett 1/20/98-Walter Husak, Heritage 2/15/08:2022.
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Lot 2179
1861. PCGS graded MS-64+. Well struck with nice golden toning. Based on the following PCGS Census Data, we feel confident in describing this gorgeous near-Gem as the second finest known 1862 Eagle available in today's PCGS-certified market. Both sides are satin-frosted in finish with glowing fields that support extra sharp devices. The color is a vibrant, full-gold hue with perhaps a tinge of reddish-gold shading evident at certain angles. There are only a few minute abrasions scattered over the surfaces; nothing obvious or distracting. In addition to historical significance (it was issued the year the North and the South began the engagement that became the Civil War, this gorgeous Liberty Eagle offers unparalleled quality for a challenging issue among early No Motto Liberty $10 gold. Pop 1; 1 finer in 66.
1860-61 was a difficult transition period in America. The "wedges of separation" caused by slavery, and more importantly, the passage of the punitive Morrill Tariff act, split the nation. The crucial point was reached in the presidential election of 1860, in which the Republican candidate, Abraham Lincoln, defeated three opponents, Stephen A. Douglas (Northern Democrat), John C. Breckinridge (Southern Democrat), and John Bell of the Constitutional Union party. Lincoln pledged to support the Morrill Tariff, at gunpoint if necessary, which, as events unfolded, did become necessary. Lincoln's victory was the signal for the secession of South Carolina (Dec. 20, 1860), and that state was followed out of the Union by six other states, Mississippi, Florida, Alabama, Georgia, Louisiana, and Texas.
Estimated Value $25,000 - 30,000.
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Lot 3503
Costa Rica. 20 Pesos, 1873-GW. Fr-17; KM-119. Arms of the Republic above sprays. Reverse: Value expressed in numerals. One year type. Extremely Rare. This is only the second time in our entire career that we have handled this important rarity and it t could be a lifetime before another example appears on the market. NGC graded EF-40.
Estimated Value $40,000 - 50,000.
The Tico Collection.
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Lot 2408
1849 Oregon Exchange Co. (Oregon) $5 Gold "Beaver". NGC graded AU-55. A decent strike for this great rarity with faded rose color overtones. During the generations before the California Gold Rush, the inhabitants of the Willamette Valley, Oregon, like those of the entire Pacific Northwest, managed to survive on a barter economy. The primary media of exchange, in addition to a meager supply of foreign silver and gold coins, were beaver pelts and wheat; the latter became legal tender by act of the Provisional Government of 1843. By the spring of 1848, the area's population had grown to 13,000, its largest settlement being Oregon City, population 800. On Aug. 9, 1848, gold dust from California arrived aboard the brig Henry, and within two months an estimated two-thirds of the Territory's male population had left for the California mining district, where they founded Hangtown (later called Placerville). By mid-January 1849, some $400,000 in gold dust reached Oregon, with the usual results: perpetual disputes over its weight and fineness, the necessity of weighing and testing, and petitions by the residents for a local mint. The Oregon Exchange Company stepped up to the plate as the first private mint producer in the region; the mint's output comprised 6,000 $5 pieces, along with 2,850 of the $10 gold.
The present example shows light rub and strike softness on the beaver and log, along with assorted small scuffs and surface nicks characteristic of the soft, unalloyed gold. A bit of softness is also visible around OREGON and the N of NATIVE. Much luster remains, we might add, and the surfaces tend to be otherwise very appealing.
Concerning the unusual lettering along the obverse rim, the Oregon Exchange Company consisted of several prominent residents of the area: Kilborn, Magruder, Taylor, Abernethy, Willson, Rector (Gill) Campbell, and Smith. Their initials K. M. T. A. W. R. G. S. on the five dollar gold pieces, which also depict a beaver on a log with two laurel sprigs (bordering the date). The initials T.O. (rather than O.T., for Oregon Territory) are above the date. The five dollar contains the reverse legend OREGON EXCHANGE COMPANY around the periphery, with 130 G. / NATIVE GOLD. / 5 D. in the center. Pop 2; 1 in AU-58; 1 in MS-61; 1 in MS-62.
Historic note: All the "Beaver Money" coins were made from unalloyed California gold without attempt at assay or standardization, explains the Breen encyclopedia. "To make up for any possible deficiencies in fineness, the partners set the coins' weight at well above federal standards. Philadelphia Mint assays valued them at $5.50 and $11; California bankers, at $4 and $8, doubtless to make profit on melting, and contributing to their rarity. Coinage operations ended about Sept. 1, 1849, when both crucibles broke, following less than six months' use. By 1850, California gold coins were becoming available to supplement the Beavers, and the emergency which had led to the latter was over.
"Both denominations are unusually soft, commonly with nicks, dents, scratches, and planchet chips or flakes; they also vary greatly in color."
Estimated Value $65,000 - 75,000.
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Lot 3635
Great Britain. Sovereign, ND. S.2529; Fr-209. Elizabeth I, 1558-1603. Sixth Issue. Mint mark, Tun (1592-5). Obverse: Crowned queen holding orb and scepter. Reverse: Shield on large Tudor rose. Lightly cleaned long ago, otherwise this magnificent specimen struck on a full round planchet enhanced with superb detail. Virtually as struck and thus very rare. About Uncirculated.
Estimated Value $35,000 - 45,000.
The Lieber Collection.
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Lot 2294
1908. No Motto Wells Fargo. PCGS graded MS-69. Lovely original orange toning. Tied for the Finest Known. This is one of 10 pieces certified MS69 by PCGS, and is clearly among the finest double eagles ever seen at the time when the grading service examined it. It is truly a wonderful coin, and at the MS69 level one of the finest Saint-Gaudens $20 gold pieces certified of any date. That said, it is also a two-year Type due to lacking the motto IN GOD WE TRUST. The surfaces expected to be pristine and yes, they are, nearly flawless. The overall texture has a fine velvety look that this date is known for, with a thick cover of mint frost. Sharply, and definitely well struck up, the mint frost is thickest around the outer margin of the obverse, while the reverse has thick, coruscating luster throughout. Orange-gold color predominates with very little variation in hue on either side. Simply terrific quality! A coin destined for a type set of Saint-Gaudens twenties. Pop 10; none finer at PCGS (PCGS # 99142) .
Regarding the Wells Fargo Hoard of 1908s: Of all the different hoards bought in Europe, Asia, America, and elsewhere, this group of 1908 twenties is perhaps the most interesting and it certainly ranks among the highest quality group ever sold. Approximately 19,000 coins were in the hoard, all of them the same No Motto issue of 1908. Many earned a Mint State 66, 67 or higher level grade, with over 200 pieces in MS68 according to the distributor of the hoard. The group had been in storage since 1917 (the dates printed on the original bank bags in which they were stored)! Because they were uncleaned and fresh, they are today popular extras when collecting the double eagle series of gold coins. The name "Wells Fargo" on the holders, for those who want to know, is merely a marketing play. They were stored for a time in a Wells Fargo Bank in Nevada, that is all.
Estimated Value $90,000 - 100,000.
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Lot 4272
Canada, BC-19 1935A $1,000. PCGS Choice New 63PPQ. This spectacular example of the scarce 1935 $1,000 English issue is fully original, problem-free, and is kept from a higher grade only by very slightly imperfect margins. Just 66,500 examples were printed, and high grade survivors are rare indeed. With rare Canadian notes now appreciated on both sides of the border, expect spirited bidding for this rarity before the hammer falls.
Estimated Value $9,000 - 12,000.
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