More than 5,100 global bidders engaged in eager bidding to drive the total result for the Long Beach Expo US Coins Signature® Auction and US Currency Signature® Auction to $15,787,609 in combined sales.
A historic 1870-CC $20 XF40 PCGS soared to $360,000 to lead the coins event to $8,393,786 in total sales at Heritage Auctions Oct. 7-10, while a Fr. 2231-G $10,000 1934 Federal Reserve Note. PMG About Uncirculated 50 doubled its pre-auction estimate at $240,000 to lead the Expo’s currency event to $7,393,823.
In all, 5,116 bidders — 2,893 for coins and 2,223 for currency — took part in the events, each of which produced exceptional sell-through rates of 100% by value and by lots sold for coins, and 99.8% by value and 99.96% by lots sold for currency.
"The demand for rare and desirable coins and currency continues to grow, which was reflected in the results for both coins and currency in this auction," Heritage Auctions President Greg Rohan said. "People looking for high-end coins and notes came away from this event with exceptional items to bolster their collections.".
U.S. Coins
The 1870-CC double eagle in this auction is a new discovery, an heirloom passed down family lines for several generations. It was completely unknown to the collecting world until recently. Only about 60 survivors from the small 1870 mintage of just 3,789 pieces are known in all grades.
From the first coinage of $50 gold pieces for the Panama-Pacific International Exposition, a 1915-S $50 Panama-Pacific 50 Dollar Round MS65 PCGS rode 68 bids to $180,000. This is a round version of the coin that enjoyed a celebrated release in octagonal form, and the attention showered upon the eight-sided version left its round counterparts largely overlooked; as a result, the round version is the rarer of the variants, and more valuable in high grade.
A 1794 50C O-105, T-3, High R.4, AU58+ PCGS brought a winning bid of $168,000. Because the Mint’s coining press proved inadequate to meet the demand for silver dollars, a small mintage of half dollars was achieved. Only 3-4% of the 23,464 struck — 5,300 of which were delivered in December 1794, the rest in February of the following year — or a total of roughly 800 are believed to have survived in all grades.
A 1932 $20 MS65 PCGS, one of the first late-date Saint-Gaudens Double Eagles to reach auction with regularity, drew more than 50 bids before it reached its final price of $156,000. It is believed that all but 250 1932 double eagles reportedly struck were kept in the Philadelphia Mint vaults before being melted under President Franklin D. Roosevelt’s Gold Recall order of 1933. Another 75 were destroyed in assay tests, and of the 175 that remained available to the public, 113 were sold privately by the Mint Cashier or the Treasurer to specific buyers, including a group of 50 pieces to Spencer S. Marsh of Newark, New Jersey. The offered example is believed to be one of about 95 extant in all grades.
For nearly two centuries, numismatic tradition has had it that 1776 Continental dollars were struck at the behest of the Continental Congress as prototypes for an American dollar coin. The theory was the subject of debate, but an article by in the January 2018 issue of The Numismatist presented strong, if not irrefutable evidence that the Continental dollars were actually struck in Europe circa 1783, not in Revolutionary War-era America. A near-Gem example, 1776 $1 Continental Dollar, CURRENCY, Pewter, EG FECIT, MS64 PCGS. Newman 3-D, W-8460, R.4, drew a winning bid of $150,000.
A 1926 $1 MS67 PCGS from The James E. Blake Collection reached $120,000, a record for the most ever paid for a 1926 Peace Dollar. Production of this coin dipped to just 1.9 million pieces in 1926, and few survivors can match the quality and eye appeal of this Superb Gem example.
Other top lots in the auction included, but were not limited to:
- A 1831 25C Small Letters, B-1, R.8 as a Proof, PR66 NGC. CAC: $144,000
- A 1931-D $20 MS64 PCGS. CAC: $132,000
- A 1878-S 50C WB-101, Die Pair 1, R.5, MS63 PCGS: $117,000
- A 1925-S $20 MS65 NGC: $102,000
- A 1794 H10C V-3, LM-3, R.4, MS66 NGC: $102,000
For complete results, visit HA.com/1334.
U.S. Currency
"The robust markets for collectibles are bringing out some great items, pieces we might only see once in a decade or less," Heritage Auctions Vice President Dustin Johnston said. "The market is responding in kind. We set many new records last week as no one knows when those opportunities will come around again. Astute collectors need to be on their toes right now; this market is moving fast.".
The Fr. 2231-G $10,000 1934 Federal Reserve Note. PMG About Uncirculated 50 is a strong example for the grade among notes of this denomination, which have seen steadily rising prices in the last couple of years. The result exceeds what would be the note’s buying power in the current economy: $10,000 in 1934 equates to roughly 200,000 today.
A high-grade Fr. 2221-E $5,000 1934 Federal Reserve Note. PMG Choice Uncirculated 63 more than doubled its pre-auction estimate when it sold for $204,000. This rare and popular $5,000 Richmond Fed is quite possibly a high denomination replacement note. This offering bears a blue-green seal which is not the correct color for regular issue $5,000 and $10,000 FRNs, which should feature a vivid light green color; replacement notes were often printed at a different time than the regular production runs, and in this case would have required hand setting the serial numbers.
A Fr. 1218f $1,000 1882 Gold Certificate PMG Very Fine 25, from the Yuri Solovey High Denomination Collection, brought a winning bid of $192,000. Series 1882 $1,000 Gold Certificates are listed as eight different significant numbers in Paper Money of the United States by Ira and Arthur Friedberg, with each featuring different signature combinations as the offices of Register of the Treasury and Treasurer of the United States turned over. Just 96,000 examples were printed in total, and the high face value, coupled with the Gold Reserve Act of 1934 under Roosevelt, resulted in massive redemption rates. Just 11 examples are listed in the census by serial number, including one piece which is off the market permanently in the holdings of the Federal Reserve Bank of San Francisco.
A Fr. 2220-F $5,000 1928 Federal Reserve Note. PMG Choice Very Fine 35, from a series in which notes were printed for just nine of the 12 Federal Reserve Banks, climbed to $150,000. Also from the Yuri Solovey High Denomination Collection, this Atlanta example is one of only about 20 survivors known from all districts combined. The small total is a result of miniscule print runs compared to most 20th century printing totals, with just 1,440 notes printed and released through the Atlanta District.
Another outstanding piece from the Yuri Solovey High Denomination Collection and the San Francisco District, a Serial Number 1 Fr. 2211-L $1,000 1934 Light Green Seal Federal Reserve Note. PMG Very Fine 25 reached $126,000. This example is the only reported No. 1 $1,000 Federal Reserve Note outside of government hands.
Other top notes in the auction include, but are not limited to:
- A Fr. 203 $50 1863 Interest Bearing Note PMG Very Fine 30: $96,000
- A Fr. 2221-H $5,000 1934 Federal Reserve Note. PMG Very Fine 25: $93,000
- A Fr. 334 $50 1891 Silver Certificate PMG Superb Gem Unc 67 EPQ: $78,000
- A Fr. 2411 $10,000 1928 Gold Certificate. Face Proof. PMG Gem Uncirculated 66 EPQ: $52,800
- A Fr. 2408 $1,000 1928 Gold Certificate. PCGS Banknote Choice Unc 64: $52,800
For complete results, visit HA.com/3585.
About Heritage Auctions.
Heritage Auctions is the largest fine art and collectibles auction house founded in the United States, and the world’s largest collectibles auctioneer. Heritage maintains offices in New York, Dallas, Beverly Hills, Chicago, Palm Beach, London, Paris, Geneva, Amsterdam and Hong Kong.
WooHoo! Two of my Morgan Silver Dollars orders are now in the processing stage! Has anyone else checked their Order History page? The 2 orders are for the D and S minted Morgans.
Congrats I collect all D Mint issues but by the time I got thru the website glitches and my D mint Morgan purchase went thru the S Morgan was sold out 🙁
Senza,
Believe me when I say at the beginning of the year I was wondering if I was going to be able to get one Morgan or Peace Dollar, let alone 5 of the 6 issues. The only one I didn’t procure is the CC privy Morgan and I’ll just look for one next year. With a mintage of 175K the prices should come in with time.
Larry T. And Senza – I will have extra ‘D’ and ‘CC’ Morgans to trade for ‘O’ Morgans, which is the only one I was unable to procure. If you would like to trade even, buzz me at mammothfarm at yahoo.
🙂
Prices are coming down already flippers are trying to unload and dealers with graded MS70’s have dropped as low as the $300.00’s
Your brilliant even when your not trying to be, that’s one of the biggest components of the US Mint and their third party flippers success – getting the ads on ebay and pre-selling these coins on the first day the US Mint lists them for sale.
I seen some of the early CC Privies sell for over $700 each on day-one and today I see some flippers just trying to break even and unload the coins.
Yeah, I did for giggles based on your experience. Mine are in the same stage. However, I didn’t know what the status was b4 I checked, to be fair. I also noticed I still have several orders listed as processing that I have in hand. The reason I gotta be bored to chk status at the mint
Phil,
I thought I was the only one with the strange experience of having orders say “processing” even after I have already received the coins and this started for me before the US Mint allegedly improved their website a few years ago.
My order page does not work, everything I ever bought says Processing, but I do see a pending charge on my cc for an amount equal to 2 coins, so maybe the D & S are shipping soon.
Word. Lol
gmam1964 My sister’s history page does the same thing. You click to see the order and it flashes right back to the same place. She has an order from 2016 showing processing. Sign in and go to history page to get your order numbers and write them down. Sigh out and use the guest check in. Put in your order number and Email and it will show you your real order status. If the order says it’s pending then it should ship in a few days. The O, CC S and D Morgan Dollars have changed their status from backorder… Read more »
Kennygee,
That’s way cool! Thanks for the work around to get your real order status using your order number & email address by signing in as a quest. I am also one of the many here who has a history page showing the status of all my orders as “processing” going back 8 years. I reported the problem to Mint customer service many times over the years, but they can’t fix it (they wouldn’t know how).
I also beat my head against the wall trying to talk to the mint customer service, both with chat and on the phone. The problem has something to do with the web page on their end. Maybe when all the craziness dies down and all the Morgan and Peace dollars are delivered, we might have better luck getting someone to fix it but don’t hold your breath.
Thanks KG, that worked great. 4 of the 6 are in processing status, the last two still say backordered.
It is the same for me. The Peace dollar and the 2021 P Morgan are still backordered. They hit my CC for all 4 that our processing and my daughter’s too. As soon as I see shipped on ours, I will give a shout out to everyone.
Well, my Reverse Proof Set FINALLY arrived, 20 days after being shipped. One capsule was loose, as others here have noted. Other than that, the set was well-packed with newsprint wrapped around the mint box to prevent it from sliding around inside the shipping box. Interesting to examine these coins and note the differences. Anybody else notice that Liberty has fuller breasts on the Type One ASE? Also, the lettering is thicker on the Type Two ASE and the mint mark is in a different location. Nice coin set – Definitely a Keeper! Here’s a picture of me admiring the… Read more »
Mammoth,
A while back, the Mint had sent an email that was useful in pointing out the differences on the obverse. Iirc, the nose was tweaked too
I could be confused with new AGE…
Phil, I could google to see what the differences are, but I am too lazy.
Congrats look at the tusks on that thing
Yeah, I like the Type 1 Buxom Lady Liberty.
When the Mint finally begins sending out those 2021 Morgan & Peace Dollars to us Customers, hopefully this website will deem the news worthy of an article so that we’ll know they are on their way.
——————————————
For kicks & giggles, attached is the tracking record for the Reverse Proof Set, which finally arrived on Oct. 18. Note it supposedly took two weeks to get from Nashville to Memphis. Heck – I could have WALKED from Nashville to Memphis in less time!
That’s so typical maybe you checked the snail mail speed by accident lol
Believe that, Mammoth! (You) Woolly mammoths traveled so widely across what is now Alaska that they could have circled Earth almost twice —
That’s how I felt this morning when I checked the shipping progress on 2 of my US Mint orders and found out #1. US Mint shipped with UPS and 2.) UPS reports that a shipping label has been printed and UPS is not yet in possession of the items.
As I once said the whole darn thing has been a shit-show and one of the biggest US Government shams in history as far as I’m concerned…….
I can’t even keep an accurate account of my CC balance because the US Mint has my money going in and out with no rhyme or reason and it’s all so unnecessary when they could just do things right for a change.
Here she is. WB7 just found her working in a coal mine (because it may get cold outside).
Nice picture, Rich. Not my best side, but it looks better than the other end.
As of 9:00 am this morning (10/21) there are 270 American Eagle 2021 One Ounce Silver Reverse Proof Two-Coin Set Designer Edition available on mint site if anybody missed out on this product previously.
gman1964
At 5:00 today, Thursday, 10/21, my Morgan P dollars went to processing from backorder status. hopefully, shipping should start soon.
I received my email from the mint that my “CC” has shipped yesterday.
That is great gman, I hope it ships with UPS because it takes a lot longer with the USPS. Let us know ho they look when you receive them.
gman, Thursday at 8:00 PM the mint shipped my 3 Morgans S dollars. Today at 9:00 AM they shipped my 3 Morgan D dollars. The difference between those two order numbers is 47,700 orders. It looks like the mint processed 47,700 orders in 13 hours. Hope this is helpful to all those anxious collectors out there.
Received notice today that the “O” has shipped, still waiting on the “D” and “S”. Unfortunately, it’s being sent USPS.
gman,
Tracking states that I will receive 3S Morgan and 3D Morgan dollars on Tuesday. Unfortunately, it’s being sent USPS.
gman1964,
I got my 3 Morgan O’s and 3 Morgan S’s today. I put them under the glass and just as I thought, the three S coins are perfect and the three D coins have a few light scratches and small nicks. No MS 70 on the d”. I hope everyone has better luck with the D coins. I guess there is a reason the proofs are made in San Francisco.
I received my “CC” yesterday, looks good under glass, the CC is clearly marked. You said you received O and S but you were talking about D. I have heard that the “O” mark on some is not good, mine comes Friday along with S and D, so we will see.
That is correct. I meant the D Morgan’s. I will receive my O and CC Morgan’s on Thursday. I will look at them under glass and see how they look. My daughter’s Peace dollars have shipped but the P Morgan seems to be delayed for some reason. Let’s hope your D Morgan’s are better then mine. The S Morgan’s are great and you can see that right through the plastic cover.
Received my O today. Under glass the privy looks good, I thought it has a scratch on the obverse, but it was a small crack in the holder. There is a small area in front of her neck that is a little brighter than the surrounding field but otherwise very nice. S and D might come tomorrow of Friday. Last two Saturday or Monday, all USPS.