Held as part of the 38th annual New York International Numismatic Convention (NYINC), A.H. Baldwins & Sons New York Sale proved to be a welcome move away from the subdued bidding of 2009.
The majority of the interesting lots offered during the course of the week were from the Baldwin’s/Dmitry Markov/M&M auction and the high prices achieved reflected the recent trend for buyers paying well above estimate for quality and rarity.
In marked contrast to last year’s event the bidders appeared to be out in force. Seth Freeman of Baldwin’s commented that there was a real buzz around this years event, both the convention and the auction and buyers ‘seemed to be focused on one thing, spending money to secure key items’.
The results from the sale this year reflected the more optimistic view of the financial markets for 2010. Across the board bidders seemed less cautious than last year and prices realised on particular items were substantially higher.
Highlights from the first day of the sale included the catalogue cover piece, lot 128, a Roman Empire Drusus Sestertius which sold for $17,250 USD against a pre-sale estimate of $8,500 USD; and lot 251, a Constantinus II Solidus, Treveri, which achieved $34,500 USD.
As ever the Indian section was strong and attracted a lot of attention, the most interesting lot being 304, a very rare Gupta Dinar, Tiger-slayer type depicting the goddess Ganga standing on an elephant-headed fish, sold for $21,850 USD.
Bidding interest and excitement centered on the Medieval, Portuguese and Russian sections and this is demonstrated by the incredibly strong prices achieved. Highlights of the section incorporate lots 470 and 628, a Carolingian Denarius of Toulouse, and a Portuguese Sancho I Morabitino which sold for $13,800 USD and $25,000 USD respectively.
Lot 1027, a 1707 Shestak Half Tymf, was one of the most unique and interesting pieces in the sale. This coin was first recorded in 1897 where it was the only image available of this very rare coin and soon became the plate coin in all standard references. The groups research produced no other specimen of this particular coin offered at public auction and this was reflected in the realised price of $97,500 USD.
Lot 2002, a complete set of the Order of St. Alexander Nevsky also attracted a great deal of interest and more than doubled its estimate by achieving $184,000 USD and becoming the highest priced lot of the auction.
Held in the Norse Suite of the Waldorf Astoria Hotel in New York, the auction spanned two evenings and the room was packed for both events. Many individuals were bidding on the phone and 91 people registered to bid online over the course of the two days, proving that you no longer have to attend an auction to participate in it.
77% of the 1402 lots offered were sold and a total hammer price of $4,815,136 USD (including premium) achieved. Lots sold online to bidders globally totaled 8.57% of the successful bidders buying 90 lots between them.
Baldwin’s is a long-established company, with a history going back to the 1872. A.H. Baldwin and Sons Ltd offer coins for collectors, including Ancient, Mediaeval, British and Foreign Coins, Commemorative Medals, Tokens and Numismatic Books. Our stock is the largest in the UK. Baldwins also organise Auctions.
We conduct regular auctions of all numismatic material; coins from all areas and historical periods but also Banknotes, Military Medals and Books. The Auctions are run worldwide: London, New York, Singapore and Hong Kong, we have also conducted auctions in the United Arab Emirates.