If you are a value buyer, seeking opportunity, there are number of ways to examine the current market to identify opportunities and position your inventory for best potential in the coming year. For starters, December is the ideal contrarian month for buying rare coins as many dealers slow down until the January FUN show and assume their business will be slow as buyers focus on holiday shopping. How does this help you? Shopping in online auctions is a great place to start. Houses from Heritage to Great Collections, David Lawrence Rare Coins regularly hold online sales with fresh material. Legend is holding their Regency Auction XIX on December 15 at the Las Vegas Venetian Hotel. If you are a fan of world coins, Heritage is holding a Signature Sale in Hong Kong on December 8-9.
Another perspective for value-minded buyers is the veritable buffet a opportunities available in the current U.S. rare coin at present. Forget trying to cherry-pick auctions, many dealers are holding end of year inventories with great coins and nothing beats a quick check when negotiating. If you are in the Houston area on December 1-3, you will find a number of national dealers in attendance and looking to free up some inventory if the terms are appealing. Texas dealers are required to pay an annual tax based on the amount of their end-of-year inventory, so many of these folks are net sellers at the Houston show. As a buyer you’re already saving them a few percentage points on anything you buy.
I would also examine specific series and issues for value. The key factor here is to be flexible. It’s never easy to identify a specific coin, or series, to seek out when trying to get a great deal. I have al ready found the best way to find “deals” is to be as flexible as possible and buy what folks have to sell. For example, we may all agree that early Walkers are popular and good value at today’s levels, but if none are around, you’re better off switching over to gem Buffalo nickels, which happen to be very well represented in the coming Legend auction courtesy of the Angel Dee’s Collection.
If I could make one final point of emphasis here, it would also be that quality should remain high on your “value” list. While there are numerous opportunities to obtain coins in this market, one should still strive to buy great coins of the highest quality possible for the grade. A bargain isn’t a bargain if nobody else wants the coin you buy. The Pogue Collection is a great example of wonderful coins that were sold at market levels that may not be seen again. I’ve spoken with numerous buyers in these sales that are thrilled at the profits they’ve either made, or turned down, in the short period of time since the sales.
####THIS WEEK’S MARKET
**Gold Type:** As the gold spot price continues to plummet, bids for generic gold coinage follows, as demand generally slumps when the spot price shows this type of price action. It will be interesting to see if “dip buyers” appear during December, a month in which gold is historically down.
**Proof & Mint Sets:** Updated bids in this category for this week, mostly lower. We always encourage market makers in this series to post their bids on *CDN Exchange*.
**BY JOHN FEIGENBAUM,** PUBLISHER
If you are a value buyer, seeking opportunity, there are number of ways to examine the current market to identify opportunities and position your inventory for best potential in the
As we went about reviewing the activity in the series covered in this Quarterly issue, one trend became quite apparent: the volume of $10 Liberty coins, especially the low mintage
PRESS RELEASE: Sale of Exquisite Japanese Proof Collection Set to Star in Heritage’s NYINC 2017 Signature Auction
**Japanese Meiji Year 13 (1880) proof coins-possibly the most complete set in the world-will be auctioned in Heritage Auctions’ World Coins Signature Auction at the 45th New York International Numismatic Convention, January 8-9, 2017**
**NEW YORK** – Heritage Auctions’ will be offering one of the most coveted Japanese collections at the [2017 New York International Numismatic Convention](https://coins.ha.com/c/auction-home.zx?saleNo=3051&ic=breadcrumb-coins-121913-interior), January 8-9 at the Waldorf-Astoria Hotel. Just a handful of proof coins were produced by the Japan Mint in 1880 for use only in presentation sets.
“Ornate and sharply struck, they are often listed amongst the most beautiful Japanese coins in existence,” said Cristiano Bierrenbach, Executive Vice President of International Numismatics. “Proofs were struck for 13 types, and 11 are present in this collection. It is believed to be the most complete set of Meiji Year 13 proofs outside of the Japanese Mint Museum.”
A [20 Yen Gold PF64 Cameo NGC](https://coins.ha.com/itm/japan/world-coins/coming-soon-/p/3051-13004.s?ic4=GalleryView-Thumbnail-071515) leads the consignment. It is one of the rarest Japanese coins of any era, with less than 10 of the original 103-piece mintage thought to exist. Records indicate an example of this issue has only sold once this century, a PF63 NGC example from the Norman Jacobs Collection realized $230,000 in 2011. The piece features fully mirrored fields and exceptionally crisp details, particularly within the dragon motif and kanji characters.
Only twice in the past two decades have collections of Meiji Year 13 proof coins been offered for public auction. “It’s tremendously exciting to be offering these proofs,” said Cristiano Bierrenbach, Executive Vice President of International Numismatics at Heritage Auctions. “The Pittman sale in 1999 and the Norman Jacobs sale in 2011 attracted bidders from all over the world, and this collection is superior in both quality and completeness.” Between 5 and 15 pieces of each type are thought to exist, as many were destroyed or melted down during the Empire of Japan’s 14 consecutive years of war from 1931 to 1945.
Also starring is a [10 Yen Gold PF64 Cameo NGC](https://coins.ha.com/itm/coming-soon-/p/3051-13003.s?ic3=ViewItem-Auction-Preview-BrowseSearchResults-120115&lotPosition=1). Records indicate this is the finest example ever offered at public auction in the West. Although slightly more were struck than the 20 Yen Proof (136), the 10 Yen piece is generally considered more scarce, with only 5 pieces known. An example also sold from the Norman Jacobs Collection, reaching $253,000.
A [5 Yen Gold PF65 Cameo NGC](https://coins.ha.com/itm/coming-soon-/p/3051-13002.s?ic3=ViewItem-Auction-Preview-BrowseSearchResults-120115&lotPosition=2) is expected to attract considerable interest from collectors. Although the 5 Yen gold coin was a common circulation strike, the 1880 proof strike is easily the rarest of the gold Year 13 set. Just 79 were minted, and an example has not been offered publicly in 17 years. The [2 Yen Gold PF66 Cameo NGC](https://coins.ha.com/itm/coming-soon-/p/3051-13001.s?ic3=ViewItem-Auction-Preview-BrowseSearchResults-120115&lotPosition=3) offered is the finest Meiji Year 13 proof of any denomination or composition known. This example exhibits extraordinarily crisp details and full luster. This is also the rarest pattern offered in the set. Struck periodically between 1876 and 1892, total production of the type was 304. 87 were produced in 1880, and this is believed to be only the third time an example of this rarity has been offered to the public in the West.
Leading the silver offerings is a [1 Yen PF65 NGC](https://coins.ha.com/itm/coming-soon-/p/3051-13005.s?ic3=ViewItem-Auction-Preview-BrowseSearchResults-120115&lotPosition=4). This example is believed to be one of the rarer strikes from this already low-mintage set. During the first years of the Meiji Era, 1 Yen coins were produced in both gold and silver. Gold coins were intended to be used domestically, while the silver issues depicting both the composition (.900) and weight in grains (416) were intended for international trade. While circulation examples of the silver 1 yen pieces are quite common, this is the first time Heritage has offered a proof-struck example.
The sale will give collectors an opportunity to purchase two uncirculated proofs from the set for the first time since 1999. The silver [50 Sen PF63 NGC](https://coins.ha.com/itm/coming-soon-/p/3051-13006.s?ic3=ViewItem-Auction-Preview-BrowseSearchResults-120115&lotPosition=5) offered is one of approximately 5-6 survivors from the original mintage of 179. A silver [5 Sen PF64 NGC](https://coins.ha.com/itm/coming-soon-/p/3051-13010.s?ic3=ViewItem-Auction-Preview-BrowseSearchResults-120115&lotPosition=8) is one of 10-12 thought to exist. A total mintage of 77 not only makes this not only the least-produced coin in the 1880 set, but also the scarcest 5 Sen coin in the denomination’s 76-year history.
*Also featuring in the set:*
Ã· [Silver 20 Sen PF63 NGC](https://coins.ha.com/itm/coming-soon-/p/3051-13007.s?ic3=ViewItem-Auction-Preview-BrowseSearchResults-120115&lotPosition=6). One of 96 struck.
Ã· [Silver 10 Sen PF63 NGC](https://coins.ha.com/itm/coming-soon-/p/3051-13011.s?ic3=ViewItem-Auction-Preview-BrowseSearchResults-120115&lotPosition=7). One of 77 struck.
Ã· [Copper 2 Sen PF63 BN NGC](https://coins.ha.com/itm/coming-soon-/p/3051-13009.s?ic3=ViewItem-Auction-Preview-BrowseSearchResults-120115&lotPosition=9). First proof-strike example to be offered by Heritage.
Ã· [Copper Ã½ Sen PF64 BN NGC](https://coins.ha.com/itm/coming-soon-/p/3051-13008.s?ic3=ViewItem-Auction-Preview-BrowseSearchResults-120115&lotPosition=10). Believed to be the first offered publicly since 1999.
Altogether, the 11-coin collection is expected to realize more than $1 million.
*Heritage Auctions is the largest auction house founded in the United States and the world’s third largest, with annual sales of more than $800 million, and over one million online bidder members. For more information about Heritage Auctions, and to join and receive access to a complete record of prices realized, with full-color, enlargeable photos of each lot, please visit [HA.com](https://www.ha.com/).*
*Want to get the up-to-the-minute updates and breaking news stories about Heritage Auctions? Follow us on [HA.com/Facebook](https://www.facebook.com/HeritageAuctions/) and [HA.com/Twitter](https://twitter.com/heritageauction). To view an archive of Heritage press releases go to: [HA.com/PR](https://www.ha.com/heritage-auctions-press-releases-and-news.s?type=surl-press). To link to this release on your blog or Website: [HA.com/PR-3067](https://www.ha.com/heritage-auctions-press-releases-and-news/sale-of-exquisite-japanese-proof-collection-set-to-star-in-heritage-s-nyinc-2017-signature-auction.s?releaseId=3067).*
Hi-Res images available:
Eric Bradley, Public Relations Director
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This week’s Bluesheet sees updates across most series reflective of sight-unseen exchange bidding from CCE and CDN Exchange. Gold commems are in demand