Coins certified by Numismatic Guaranty Corporation (NGC) stood out in Heritage Auctions’ recent Platinum Night sale, held in conjunction with the American Numismatic Association World’s Fair of Money in Denver.
The sale was headlined by a group of nine NGC-certified Japanese Proof coins from the 1870s that sold for a combined $793,125.
These nine coins – among the first coins minted in modern Japan – had sold at public auction for just $225,000 a year ago. They were subsequently submitted to NGC for certification and more than tripled in value.
The coins include:
A Meiji Year 3 (1870) Gold 20 Yen graded NGC PF 66 Cameo that sold for $470,000
A Meiji Year 4 (1871) Gold 10 Yen graded NGC PF 66 Cameo that sold for $94,000
A Meiji Year 4 (1871) Gold 5 Yen graded NGC PF 67 Cameo that sold for $58,750
A Meiji Year 3 (1870) Gold 2 Yen graded NGC PF 67 Cameo that sold for $35,250
A Meiji Year 4 (1871) "High Dot" Gold Yen graded NGC PF 65 Ultra Cameo that sold for $44,650
A Meiji Year 4 (1871) Silver 50 Sen graded NGC PF 66 that sold for $42,300
A Meiji Year 3 (1870) Silver 20 Sen graded NGC PF 67 that sold for $19,975
A Meiji Year 3 (1870) Silver 10 Sen graded NGC PF 67 that sold for $12,925
A Meiji Year 4 (1871) Silver 5 Sen graded NGC PF 66 that sold for $15,275
From the other side of the globe, two British coins certified by NGC shattered the previous world records for prices achieved by coins of the same type.
An 1826 Great Britain Gold 5 Pounds – graded NGC PF 64 Ultra Cameo – sold for $305,500.
This figure is the highest price ever paid for an example of this issue and a jaw-dropping three times the highest price ever paid for an upgraded example.
It was followed by a 1701 Great Britain "Fine Work" Gold 5 Guineas graded NGC MS 64 that sold for $188,000. This is more than double the previous record for this variety, which was set just last year. The coin features an exquisite portrait of King William III that was likely engraved under the direction of Isaac Newton, who served as Master of the Royal Mint at the time.
Also worthy of mention is a Livonian Gold Double Gulden struck 1547-1561 and graded NGC MS 62, which sold for $64,625. The coin, struck at the Riga Mint, is an excessively rare type that features Duke Gotthard Kettler, the last Master of the Livonian Order.
Heritage Auctions had little doubt that the high prices achieved by many world coins in their sale was due, in large part, to the trust that their bidders have in NGC’s grading and guarantee.
"Our ANA Platinum Night sale reveals the significant value added by NGC certification," said Cris Bierrenbach, Executive Vice President, Heritage Auctions. "Many of the NGC-certified rarities that we sold achieved prices that were considerably higher than recent sales of comparable, ungraded examples. NGC’s certification gives our bidders great comfort to bid sight-unseen."
He added: "This auction makes it quite clear that those who underestimate or ignore third-party grading are choosing to leave quite a bit of money on the table for themselves or their clients.
Coins graded by NGC Ancients were similarly successful in Heritage Auction’s Platinum Night sale. In fact, of the 120 ancient coins in the auction, 115 were certified by NGC Ancients.
These coins were led by a Gold Stater of the famous King Croesus of Lydia (in modern-day Turkey).
Graded NGC MS★ with 5/5 strike and 5/5 surface, it sold for $129,250. Only five months earlier, this same coin had sold – ungraded – for $38,757.
"We are honored that collectors and dealers have recognized our decades-long commitment to accuracy, consistency and integrity with so many phenomenal results for NGC-certified coins," said Mark Salzberg, NGC Chairman and Grading Finalizer. "We look forward to continuing to provide the highest quality services to the numismatic community."
For more information about NGC and their grading services, visit www.ngccoin.com.