PRESS RELEASE: Legend’s 25th Regency Auction Sees Very Strong Bidding, Record Price Realized for 1920 Double Eagle.

(Lincroft, NJ—January 26, 2018)—Legend Rare Coin Auctions’ latest Regency Auction, the 25th sale held as official auctioneer for the PCGS Members Only Shows, took place on the evening of January 25, at the Luxor Hotel in Las Vegas. As per their standards, the firm offered a selection of hand selected, high quality rare coins in the boutique style that is their trademark, and the results were beyond expectations. The 329 lots offered were anchored by the Ipswich Collection of Three Cent Silver pieces, as well as the properties of various consignors, including the Edmund Family Trust. The quality of the offering resulted in a large number of bidders, including our largest number of overseas bidders—collectors in Asia and Australia bid, and won more coins in this sale, than in previous sales, proving yet again that the market for high end U.S. coins is truly global, and Legend Rare Coin Auctions’ clientele is truly worldwide.

The sale began with the Ipswich Collection of Three Cent Silvers, a nearly complete set of the popular “fish scales” series. Every lot was exceptionally high end for the assigned grade, all graded by PCGS and approved by CAC. Put together over the years by a dedicated collector with a sharp eye, the offering brought out many serious collectors of the series, with bidding wars fought out on many lots. This action continued when the three cent silvers from other consignors were offered later on in the evening. Other areas of strong bidding included better and rare date gold, with the top lot in the sale being the GEM 1920 double eagle, one of only two coins graded MS65 at PCGS, as finest known. With an estimate of $100,000+, there were three active bidders at $120,000 and two very serious collector bidders took it to the final price of $188,000 inclusive of the 17.5% buyers premium. The second highest price realized was for lot 209, the finest known Original Proof 1852 dollar, one of perhaps three examples extant, realizing $129,250.

Having become “the auction house” for great toned Morgan and Peace dollars, serious collectors know that LRCA is the place to go to get the Monsters. In Regency Auction 26, two coins brought particularly exemplary prices after collectors fiercely battled out to the end. The first was lot 220, a PCGS MS66 CAC 1881-S dollar that realized $21,150, on a $9,500 presale estimate. The second, lot 236, a dramatically toned 1922 Peace dollar in PCGS MS66 that saw a total of 50 bids from 11 different bidders, before the gavel finally fell at $8,812.50 on a $750 presale estimate!

“We were very pleased with how this sale came together, from beginning to end,” Julie Abrams, Legend Rare Coin Auctions’ president said. “Clearly the market is starved for great coins. There was strong bidding activity from the moment the sale was posted online for bidding, and it continued through the live bidding. A large number of presale bidders and bidders participating on the floor and on the internet and phone during the session, resulting in strong prices across the board, in many cases stronger than we had anticipated. Again, bidders from all over the world were logged into bid during the sale, and the 1920 Double Eagle is now going to an amazing collection of U.S. gold coins overseas.”

“From what we have seen over the last several months, there is a serious drought for great coins in the large auctions and out there on the bourse floor,” Laura Sperber, founder of LRCA noted. “Our model of hand selecting high quality coins for inclusion in our boutique sales ensure that every buyer will be delighted with the coins purchased in our sales. Because there are so few coins out there, the high-end coins are bringing strong prices—we definitely see the coin market in a stronger position than it was at this time last year. With the record stock market, we think more money, from serious buyers looking at undervalued areas, will mean higher prices as we continue over the course of the next year or so.”

Among the highlights are the following lots:

  1. 3CS 1861 PCGS MS67 CAC Ex Ipswich Collection, realized $9,106.25
  2. 3CS 1865 PCGS MS66 CAC Ex Ipswich Collection, realized $7,637.50
  3. 1C 1880 PCGS PR66+ RD CAM CAC, realized $7,343.75
  4. 5C 1915 PCGS PR68 CAC, realized $34,075
  5. H10C 1862 PCGS MS67+ CAC, realized $4,582.50
  6. 50C 1812 PCGS MS65+ CAC, realized $21,150
  7. $1 1852 Original. PCGS PR65 CAC, realized $129,250
  8. $1 1881-S PCGS MS66 CAC, realized $21,125
  9. $1 1922 PCGS MS66, realized $8,812.50
  10. $1 1926-D PCGS MS65+ CAC, realized $5,287.50
  11. $2.50 1893 PCGS PR67 DCAM CAC, realized $47,00
  12. $5 1802/1 PCGS MS64+ CAC, realized $76,375
  13. $5 1907 PCGS MS67+ CAC, realized $43,475
  14. $20 1920 PCGS MS65, realized $188,000
  15. $20 1928 PCGS MS67 CAC, realized $24,675
  16. G$1 1836 J-70. PCGS PR65 BN CAC, realized $16,450.

 

Legend’s next auction, the monthly Premier Session, closes on Sunday, January 28, beginning at 9pm eastern. This internet only auction features 112 lots, including a wonderful 1850-O dollar in PCGS AU58 and an extremely rare 1861 pattern $2.50 struck in silver. Of the 112 lots, 75 are CAC approved.

Legend is now accepting consignments for all remaining 2018 Regency and Premier Sessions auctions, including Regency Auction 26, being held in New Orleans on May 17. Already a number of great consignments are in house, the exciting details of which will be revealed shortly. If you have any coins you are looking to consign, talk to Julie Abrams or Greg Cohen. You can call the office at 732-935-1168, or via email, julie@legendauctions.com, or greg@legendauctions.com.