The 1870-cc quarter in XF-40 in hansen was the undergrade coin that gardner had prior to obtaining the battleborn 55 which then sold prior to his passing along with the 55.(two separate sales of 4 parts) It (the 40) then sold again thru legend auctions, i was underbidder at the time, but it was a little too pricey for me, and now knowing hansen bought it, wouldnt have gotten it anyhow. Any 70-cc quarter decent is great to own, but this coin wont cac, and is a little somewhat cleaned.
I have a pcgs 30 which is fairly nice, but still not quite as nice as the ogh 25 i had several years ago before selling all to open the coin shop I mentioned in an earlier thread. i really liked the 71-cc in 55 cac that sold back there as well, but when it came up, again bad time for me as I was fighting cancer. Im sure hansen will aquire one of the nice 70-cc in au , its just a matter of time.
@Boosibri said: @Currin do you have any thoughts on which of the TDN Early Dollars Hansen will be after?
. Consider this as opinion only,
I would say all but the $10M coin. I don’t think the coin would fit in the collection goals at this time. In this mega-set, Mr. Hansen does not lose his mind over one coin. He may have in the past, but I don’t see that will happen again. This mostly unfortunate for coin owners of high end ultra-rarities.
As for the others coins, I feel the major concern would the source and venue. I am hoping that I am wrong. I would love to see all of them, especially the POP 1/0 specimens. They would work well with his Morelan Seated Dollar collection. Also, this could really kick start the rebuild of the early coinage. But my observations for the past 12 months does not give me a warm feeling. It would not surprise me if he set this one out. Now, with that said, this auction is still a good ways in the future and changes can happen. In the coming months, fences can be mended and new bridges built. Time will tell. (The upcoming Mo Civil War auction could be positive or negative indicator)
Note: This is my personal thoughts being asked for by Boosibri. On this matter, I have not discussed with the Hansen team and have no inside knowledge.
@Boosibri said: @Currin do you have any thoughts on which of the TDN Early Dollars Hansen will be after?
. Consider this as opinion only,
I would say all but the $10M coin. I don’t think the coin would fit in the collection goals at this time. In this mega-set, Mr. Hansen does not lose his mind over one coin. He may have in the past, but I don’t see that will happen again. This mostly unfortunate for coin owners of high end ultra-rarities.
As for the others coins, I feel the major concern would the source and venue. I am hoping that I am wrong. I would love to see all of them, especially the POP 1/0 specimens. They would work well with his Morelan Seated Dollar collection. Also, this could really kick start the rebuild of the early coinage. But my observations for the past 12 months does not give me a warm feeling. It would not surprise me if he set this one out. Now, with that said, this auction is still a good ways in the future and changes can happen. In the coming months, fences can be mended and new bridges built. Time will tell. (The upcoming Mo Civil War auction could be positive or negative indicator)
Note: This is my personal thoughts being asked for by Boosibri. On this matter, I have not discussed with the Hansen team and have no inside knowledge.
@amwldcoin said:
While I didn't comment or vote in @Boosibri 's poll. I don't think it would bring 10 million unreserved.
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It could, but will take two bidders in this type auction. When the coin sold for $10M, there was a increment bid made for about $2-3M. Is that possible in this auction? I don’t understand the auction rules well enough to know. Also, in the last auction the two bidders if I recall was Brett Pogue and Bruce Morelan. We know at least one will not be bidding, and both will not unless Bruce bids up his own coin. Again, I don’t understand the auction rules well enough to know if that is allowed in Legend Auctions. I really don’t have an opinion on my thoughts if the coin will bring $10M? It only takes someone like the Tryrant and one other to push this over the bar. It may or may not be interesting to watch.
Also, who is the new big player called THE JONNY REED COLLECTION BY EZ COLLECTIBLES. It appear the Pogue-Childs 1804 was recently sold in a private transaction. That coin is thought to be a $10M coin. Is this just another BigCoin? Or is this real and this is the player that brings Morelan set out for auction. The pool for this coin is not very big, but it doesn’t have to be. Only need two players.
Good Luck, Bruce. I hope you have it timed right and you have a great sell. I sorry to see the set broken and probably will never be matched again.
I have provided several updates in 2020 on the Barber Dimes. This is mostly due to the sale of the Srotag Collection in GreatCollection Auctions. I reported back on April 12th that I thought the Hansen Collection of Barber Dimes had a good shot at overtaking the #2 All-Time set by Simpson. This may not be a big accomplish in the grand scheme of things, but it is a moral victory over a collection that is portrayed as the measuring point if you desire to achieve greatness. As for Barber Dime greatness, that stills lays in the hands of the Barber Dime Godfather, Stuart Blay. This collector is not a newcomer, rather the Blay Barber registry set of dimes dates back to January 2001. Currently, Blay is in the top spot with 66.78 GPA and 67.62 with bonuses. The set is closed to public viewing, but from bonus points awarded, it appears the set has a majority (>50%) of the PCGS top pops. As I have stated before, this set is evidence that a long sustaining approach to collecting pays off.
With this new upgrade, The Hansen collection surpasses the Simpson Collection. I have been watching for this to happen. I knew that one more POP 1/0 coin would put Hansen in second place due to bonus points. Also, I knew there was a POP 1/0 on the market for several months, but Hansen passed on two earlier opportunities to buy. I had spoken to the owner on several occasions knowing the coin did not sell in public auction. I knew there was a possibility for the coin to be sold privately. In the past couple weeks that opportunity has been finalized by Hansen and the team.
With the Blay set being closed, it is hard to determine if obtaining the #1 spot is possible with available coins. If I were to guess, I would say that probably Mr. Blay has the #1 spot locked. He has 84 bonus points compared to Hansen’s 72. This is quite a bit of a lead because only adding the finest and tied for finest count toward the bonus. How many of those are left, I am not sure but I don’t think there are that many. There is still opportunity for Mr. Hansen to get his GPA up on this set. Below are the top seven coins that are easily upgradable. The 1894-O MS67 POP 3/1 is available in a GreatCollections auction on June 28th. With the coin not CAC Approved, and starting bid of $26,000 plus 12.5%, I am not sure if Mr. Hansen will bid on it. He passed on two opportunities for the 1901-S and that is a POP 1/0 coin.
1899-S 10C MS66 POP 13/18
1899-O 10C MS65+ POP 1/11
1896-S 10C MS65 POP 15/10
1904-S 10C MS65 POP 9/9
1903-O 10C MS65+ POP 1/7
1906-D 10C MS66 POP 13/7
1894-O 10C MS66 POP 7/5
1901-S Barber Dime MS67+, Ex: Srotag- Lily Nicole
The San Francisco minted dime has a small mintage. The mintage is slightly less than 600,000 with a survival estimate around 2500. In GEM condition the estimate is about 60. The PCGS POP reports 4 in MS67 with this Hansen specimen a tick better at MS67+. Also, the coin has a fresh CAC Approved sticker. Here is what Ron Guth wrote about the 1901-S dime and included a comment on the new Hansen coin specifically: The 1901-S Dime is one of the more exciting dates in the series because it has the smallest mintage of any Dime between 1896 and 1913. As such, it is in high demand in vortually every grade. However, the premium for this date begins to fade in Mint State because there are quite a few examples to satisfy collector demand. In fact, there are other dates that are less "famous", which have smaller MS populations, and lower prices. What all this means is that a Mint State 1901-S Dime offers excellent value and still comes with a great, small-mintage story. This date comes very well-struck. Luster ranges from brilliant to frosty and this date often comes with nice eye appeal. The best example seen to date is a PCGS MS67+ (formerly of the Lily Nicole Collection).
During the time (March-April) that Mr. Hansen purchased several coins from the Srotag Collection offered in GreatCollections Auctions, this coin was passed on at least two occasions. In talking with David Wollinka (owner of the Srotag Collection), he felt that Mr. Hansen passed on the opportunities because he had set the starting bid to high at $30,000. After receiving the coin back from GCA, Mr. Wollinka reached out to the Hansen team and negotiated a private sale. The coin has a nice provenance to the Lilly Nicole Collection. The coin appeared in Heritage’s April 2015 CSNS US Coins Signature Auction in Chicago. The coin was described as: The 1901-S claims one of the lowest mintages in the Barber dime series (a little over 593,000 pieces), and is one of the rarest issues in Mint State. In fact, only 86 Uncirculated examples have been graded by PCGS and NGC, mainly through near-Gem. A mere six pieces are MS67 or finer. The coin realized $25,850 which remains an auction record.
It appear to me this coin was auctioned twice as NGC MS68. This is my opinion after looking an auction images, and has not been verified by an expert. If this true and can be proven, then the coin is from The Joseph C. Thomas Collection and appeared in Heritage’s April 2009 April (CSNS) US Coin Auction in Cincinnati, OH. The coin realized $18,400. In addition, the coin’s first traceable appearance is the Heritage’s 2005 (FUN) Signature Sale in Ft. Lauderdale FL. The coin was from John C. Hugon Collection and realized $23,000. Maybe someone can verify this information.
Is this the last PCGS POP 1/0 specimen that Mr. Hansen will be able to acquire for this set? Without knowing what is available, that is hard to say for sure. Time will tell, but at this point, the acquisition of the 1901-S MS67+ Srotag - Lily Nicole Specimen was enough to push Mr. Hansen ahead of Simpson in the ranking for #2 Finest All-Time Barber Dimes.
1901-S 10C MS67+ Barber Dime, CAC Approved Tied for Finest Certified at PCGS, POP 1/0 Certification #19344882, PCGS #4826 PCCS Value Guide: $26,000 / Unknown Negotiated Sale Provenance: Hansen-Srotag- Lily Nicole (possibly Thomas- Hugon)
As been previously reported, there appear to be a rash of Liberty Half Eagle upgrades in 2020. This coin makes the 24th since January. This coin is a little more special because it succeeds the six figure threshold. As you know, one of the 24 coins was a seven figure addition a couple months ago. I wonder if the activity we have seen is strictly due to opportunities, or are the Liberty Half Eagles a focus for Mr. Hansen. We may never know for sure, but we can enjoy all the cool upgrades and the opportunity to view these amazing little gold pieces. I have stated before that I believe Hansen’s Liberty Half Eagle collection is on par in condition as The Harry W. Bass and equal the completeness to Louis Eliasberg. This is an amazing achievement that appears to be getting better almost every week. The 24th upgrade this year, according to my math, that is almost one per week.
In an update a couple weeks ago, I went over stats for the 201 piece basic set. Please review if you missed it. This coin also improves the 220 coin major varieties set. So, instead of discussion the set this week, let’s look at the 1842-C Liberty Half Eagle “Small Date” variety. I can only speak for myself, but I was unaware of the rarity of this coin, especially in higher grade. The Hansen set was giving me a clue, but this is one of those things you overlook in this mega-collection. Hansen already had a nice specimen that maybe would qualify as a condition census coin. His coin was one of the seven PCGS certified AU58 specimens. The coin has PCGS POP 7/2 valued at $50,000. The new coin is one of only two mint state PCGS certified 1842-C Liberty Half Eagle “Small Date” specimens. The other PCGS specimen is a MS62 that sold by Goldbergs Auctions in 2010 for $92,000. There is one NGC MS63 from the Elrod Collection that sold for the auction record in 2012 for $166,750. The fourth and probably last is the MS60 estimated grade coin in National Numismatic Collection at the Smithsonian Institution. Then you get into the seven AU58 specimens.
David Akers contributed this comment on the coin: Without question, the 1842-C Small date Half Eagle is the rarest Half Eagle from the Charlotte Mint. Indeed, with the exception of the 1849-C Open Wreath Gold Dollar it is the rarest Charlotte Mint gold coin of any denomination. It is far more rare than the 1855-C Gold Dollar, the 1843-C Small Date Quarter Eagle, or the 1861-C Half Eagle, its only real competitors. I have seen relatively few specimens, none of which were better than EF. Some specimens I have seen had a prominent die break in the obverse rim at 12 o'clock. This was wrote sometime in the 1975/88 time period, and grading standards have changed. As stated, today there are two PCGS MS graded coins and one NGC. PCGS gives the survival estimate at 110 in all grades and conditions. The MS estimate is three, so maybe the National Numismatic Collection specimen is not counted. PCGS has certified 50 in POP Report.
1842-C “Small Date” Half Eagle PCGS MS63+
Expert Doug Winter offered this information: Two half eagle varieties were produced at the Charlotte Mint in 1842. It is likely the small Date coins were struck first, as they show the same date size as seen on the Charlotte half eagles dated 1841. The 1842-C Small Date is the rarest half eagle from this mint and the rarest collectible coin from Charlotte. It is usually found in grades below Extremely Fine and properly graded EF40 and EF45 pieces are rare. This date is very rare in properly graded AU50 and extremely rare in AU55 to AU58. I have seen only one example that I felt was truly Uncirculated, but there are at least two or three others that have been graded Mint State. The new Hansen coin has the highest grade of any of the specimens from any of the TPG services. Where did Mr. Hansen purchase this coin?
As with some other coins that we have seen lately, the story on this coin is the appearances in the past few months. The coin appeared in a January 2020 Heritage Auction, and we saw that Mr. Hansen did not take the opportunity to buy the coin at that time. So, let’s explore the chronological sequence that I have on this coin.
Pre-2020 Heritages Auctions Appearances
The coin made a first appearance in the Heritage’s 2009 FUN Auction in Orlando, Fl. In this auction, the coin was listed as MS62 PCGS, CAC Approved. The header described the coin as: Gorgeous 1842-C Small Date Half Eagle, MS62, Prized Early Die State. In this first sale, the coin was compared to the Elrod specimen by this description: Like an Olympic athlete chasing gold, the collector who was outbid on the opportunity to own the Elrod specimen of the 1842-C Small Date half eagle, sold by Heritage at the 2005 FUN auction, has had to wait four years for a similar opportunity to come again. This lot, while not the Elrod coin (note the absence of the small abrasion below the chin, visible in the Heritage photography as well as the images in Akers and Winter, for which it served as the plate coin), displays considerable visual and technical appeal, making it a worthy rival to the Elrod example. With the offering of this MS62 1842-C Small Date half eagle, Heritage has had the privilege of handling both pieces at that level certified by PCGS (11/08), with none finer at that service. The coin realized $126,500 in this sale. Just an added note on the Elrod Specimen; the coin has sold in Heritage Auctions three times since 2005 with these results: Heritage 1/2005:30451, $150,001.40 - subsequently graded NGC MS63 - Heritage 1/2012:4879, $166,750 - Heritage 1/2015:4294, $111,625. The Elrod coin lost a lot of value in just three years.
The coin made a second appearance in the Heritage’s 2012 Signature Auction in Philadelphia when auctioneer described as Rarest C-Mint Half Eagle, Tied for Finest Certified. This auction the coin appears as a MS63+, but lost the CAC Approval. The auction stated the coin was tied as finest known with the Elrod coin. The auction description: This lot displays considerable visual and technical appeal, and it is tied as finest known with the Elrod coin. As a Die State I (or Perfect Dies) piece, it has sharper detail than the majority Die State II pieces, with excellent definition on the central hair and without even a trace of the typical striking softness below the lower part of the coronet. The surfaces are minimally abraded, though a handful of the usual wispy marks are present in the yellow-gold to orange-gold fields, and the luster is frosty and delightful with a hint of reflectivity. The eye appeal is, in a word, gorgeous. The dedicated Southern gold specialist will not want to miss this opportunity. As Winter writes in his summation for the issue, "The 1842-C Small Date is the rarest half eagle from this mint and it is the rarest collectible coin from Charlotte." The Charlotte Mint's best date in the best state -- what collector could ask for more? The coin realized $ $141,000 in this sale.
2020 January 8 - 12 FUN US Coins Signature Auction - Orlando #1311
The coin was off the market for maybe eight years before it appeared in Heritage’s January FUN Auction. The coin Provenance was attributed to The HFW² Collection. The sale offered some very nice gold selections from this collector. The auction description was also identical to the 2012 sale. At this auction, the coin realized only $102,000. This may have been a golden opportunity for Mr. Hansen to purchase a nice coin at bargain price.
Park Avenue Numismatics / National Coin Wholesalers Website
The coin first showed up on PAN website about May 15th. The coin was still listed available for sale as just a few days ago. The coin was described only as: 1842-C Small Date PCGS Secure PCGS Plus. The asked price was $129,600. In the June 5th timeframe, the coin appeared for sale on the NCW website, located in Hallandale Beach, FL. The asked price was $130,015. I do not know the results from this either of listings. If I were to make an assumption, I would think the coin was sold by PAN at a negotiated price. The only difference in the coin from the Heritage January Sale was the holder. The coin has a new certification number and is now in a secure slab with “Protected by Gold Shield NFC technology”.
The coin showed up in Mr. Hansen collection few days ago. It appears that someone purchased this coin from Heritage at a very good price. Then marketed the coin on a couple websites and I would think they made a pretty good little return. End result, Mr. Hansen got his 24th Liberty Half Eagle upgrade in 2020.
1842-C Small Date Half Eagle PCGSS MS63+ PCGS POP 1/0 for rare variety Certification #39480770, PCGS #8208 PCGS Value Guide: $160,000 / Ask $129,600 Provenance: The HFW² Collection
We have not seen a lot of activity in 2020 with Hansen Proofs. I am not sure I can explain, except it appears his focus is elsewhere. This is one of the sporadic upgrades for a rare proof Liberty Half Dollar. There are 17 coins required in the Liberty Seated Half Dollars Basic Set, Proof (1839-1857) set. The seventeen coins are far from being easy. PCGS writes: Do you have a million dollars and the patience of Job? If so, you’ll love putting this set together! Actually, you’ll love getting started even if completion isn’t in your plans at this time. The 1839 No Drapery is an extremely important one-year type coin and the same is true for the 1853 Arrows & Rays. There’s one 1840 in Proof 65 (from the Norweb collection) and a couple of other dates in Gem quality, but, basically, any grade is a winner among these rarities. Any grade is not a winner for Mr. Hansen. With this upgrade he moves his Hansen / Eliasberg pedigree PCGS MS64 POP 2/1 condition census specimen to his number two set.
The mintage that is normally referenced for the 1842 Liberty Half Dollar “Small Date” (Proof) is 10. PCGS gives survival estimate at six in all grades. The guide references only one PR65. That coin is the Pittman / Gardner specimen that is presently certified PR66 by NGC. This coin realized the auction record of $77,000 in the sale of the John Jay Pittman Collection by David Akers in 1998. The new Hansen specimen is considered second in the condition census ranking. The Hansen Specimen sold in three Heritage Auctions as a NGC PR65 in 2003, 2006, 2013. In the 2013 Auction, the coin was described as: The obverse is toned in attractive champagne-golden shadings while the reverse is much deeper with mottled blue and gray coloration over that side. A tiny identifying nick is seen in the fields near the drapery; otherwise, the surfaces are exceptionally clean and problem-free. According to Walter Breen, only four proofs exist. However, we have investigated this date and have come to the conclusion that there are seven unquestioned proofs.
I used a roster from the 2020 Heritage Sale for the bases for the seven known 1842 Liberty Half Dollar “Small Date” coins. I love posting a coin when the entire known roster can be listed and the list is less than ten. This is one of those occasions. Out of the seven known specimens, Mr. Hansen has two in his collection. Both are amazing specimens that would work well any set.
1 – Pittman / Gardner Specimen : (PCGS PR65 estimated grade) PR66 NGC. R. Green; John Jay Pittman (David Akers, 5/1998), lot 1524; Philip Kaufman Collection (Heritage, 4/2008), lot 2381; Eugene H. Gardner Collection, Part I (Heritage, 6/2014), lot 30527; FUN Signature (Heritage, 1/2015), lot 4142.
2 – Hansen / Norweb Specimen: PR64+ PCGS CAC, Cert # 25654251, Purchased by Albert Fairchild Holden circa 1908; Norweb III (Bowers and Merena, 11/1988), lot 3131, where it realized $14,300; Rarities Sale (Bowers and Merena, 8/1999), lot 201; Central States Signature (Heritage, 5/2003), lot 6776, realized $43,700; FUN Signature (Heritage, 1/2006), lot 3197, where it brought $43,125; The Greensboro Collection (Heritage, 1/2013), lot 5656; The HFW² Collection (Heritage 1/2020), Lot #4210, realized $38,400; The D.L. Hansen Collection.
3 – Hansen / Eliasberg Specimen: PR64 PCGS. Cert # 31436805, Eliasberg Collection (Bowers and Merena, 4/1997), lot 1922; Chicago Signature (Heritage, 8/2011), lot 7173; The D.L. Hansen Collection.
3 - Boyd / Richmond Specimen: PR64 PCGS. F.C.C. Boyd; Worlds Greatest Collection (Numismatic Gallery, 4/1945), lot 255; 1946 ANA (Numismatic Gallery, 8/1946), lot 816; Berbert-Roe Collections (Stack's, 3/1965), lot 443; Richmond Collection (David Lawrence, 3/2005), lot 1787; FUN Signature (Heritage, 1/2012), lot 3246; ANA Auction (Kagin's, 3/2018), lot 1244.
5 – Schilke / Kagin Specimen: PR64 NGC. Oscar Schilke proof set; Paul Kagin; Central States Signature (Heritage, 4/2012), lot 5002.
6 - ANA Specimen: Proof. American Numismatic Society. 7 - National Collection Specimen: Proof. Smithsonian Institution.
1842 Liberty Half Dollar “Small Date” PR64+, CAC Approved
This coin is a proof rarity. In a recent Heritage listing, the coin is described as: Like proof quarters of the same date, proof 1842 halves were struck from Small Date dies. A Large Date variant was reportedly offered in the Brand-Lichtenfels Sale, but that coin remains unverified. Unlike the Small Date quarters, half dollars are also known (rarely) as business strikes -- struck from the small date logotype, but from a different die, with the date in a slightly different position. All proofs show repunching of the date south, especially at the 2, which is boldly repunched. Proof 1842 halves are rare, as one can see from the roster above, and this offering presents an important opportunity for the specialist to acquire one of only five pieces known outside of institutional holdings. The PCGS POP for PR64 is three with one (the Hansen / Norweb Specimen) graded PR64+. There is only one that is CAC approved, and that would be the new Hansen specimen.
The coin has great pedigree that dates back to the purchased by Albert Fairchild Holden circa 1908. According to mineralman.com website, Mr. Holden graduated from Harvard with a degree in Mining Engineering in 1888. After describing his mining successes, the website continues: In addition to being an enthusuastic mineral collector and a botanist, Holden was also a serious coin collector. He obtained the personal 1907 Ultra High Relief double eagle ($20 gold piece) owned by renowned artist Augustus Saint-Gaudens (it would later be the world's first gold coin to sell for more than $1 million) in 1907, directly from the family of sculptor Saint-Gaudens, who had designed the coin. Holden's daughter, Emery May, inherited it, and it became a centerpiece of the legendary coin collection she and her husband, U.S. Ambassador R. Henry Norweb, assembled over the decades.
The coin sold in Heritage’s 2020 FUN US Coins Signature Auction in Orlando. The coin was headlined as Second-Finest Known, Ex: Norweb. It realized $38,400. The coin recently offered on Rare Coin Wholesalers Website. The coin had an ask price of $59,500. This offer was just a couple weeks ago, so we assume the coin was purchased from RCW. We have seen on several updates recently that coins that were purchase at low bids in auctions have made their way into the D. L. Hansen Collection. This coin is one of them.
D.L. Hansen / Norweb #1 Specimen 1842 Liberty Half Dollar “Small Date” PR64+ PCGS POP 1/0, CAC Approved Certification #25654251, PCGS #6386 PCGS Value Guide: $51,000 / Ask $59,500 Provenance: Albert Fairchild Holden circa 1908; Norweb III (Bowers and Merena, 11/1988), lot 3131, where it realized $14,300; Rarities Sale (Bowers and Merena, 8/1999), lot 201; Central States Signature (Heritage, 5/2003), lot 6776, realized $43,700; FUN Signature (Heritage, 1/2006), lot 3197, where it brought $43,125; The Greensboro Collection (Heritage, 1/2013), lot 5656; The HFW² Collection (Heritage 1/2020), Lot #4210, realized $38,400; The D.L. Hansen Collection.
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. D.L. Hansen / Eliasberg #2 Specimen 1842 Liberty Half Dollar “Small Date” PR64 PCGS POP 2/1 Certification #31436805, PCGS #6386 PCGS Value Guide: $45,000 / unknown Provenance: Eliasberg Collection (Bowers and Merena, 4/1997), lot 1922; Chicago Signature (Heritage, 8/2011), lot 7173; The D.L. Hansen Collection.
Currin- You have the correct information regarding the provenance of the 1901 s Barber Dime. It was from the Hugon collection .Earlier from a Heritage auction.
You also need to give a lot of credit to Laura Sperber who put together the Law Collection and then sold it to Simpson and improved the Simpson Collection before she auctioned it. She also put together the finest collection of proof Barber
dimes including the 94s .
I would also like to do a Barber Dime exhibit of the Hansen collection and my set at either FUN
or an ANA
You also need to give a lot of credit to Laura Sperber who put together the Law Collection and then sold it to Simpson and improved the Simpson Collection before she auctioned it. She also put together the finest collection of proof Barber.
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I agree, Sperber needs credit for putting together the Law/Simpson sets, but they are now in the history books. They had a good run for about 10 years, but you was the top dog before them and here after. Staying in ring is the only way to hear the final bell.
It would be interesting to know how many of the Law/Simpson coins are in your and Hansen sets. Do you know how many of your coins are Hugon, Thomas, Lily Nicole, Simpson, Law, Ductor, Eliasberg, etc.? Some people say pedigree don’t mean anything to them. Are you one of them guys?
Currin - there are 6 coins in my set from the Law/Simpson collection.
My set was started in 1996 when I bought about a half dozen Barber dimes out of Eliasberg. Pedigree does mean something as long as the coin is not altered/dipped etc. Many of my best coins are pedigreed. Some pedigrees mean nothing as you well know. But Eliasberg, Norweb
Mean a lot IMO
Do you know if Mr. Hansen has expressed any interest in colonial era coins?
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I will answer your question this way. Mr. Hansen focus (or you could say primary interest) is in the US circulation strike set. This is the Hall of Fame set.
There are only two coins remaining, they are both half eagles,1798 $5 Small Eagle and 1822. The main activity that I see is upgrading several hundred of these coins annually. The byproduct is the creation of #2, #3 sets and many duplicates. He has a nice start on major varieties and proofs, but I don’t see a lot of recent activity. He has a few patterns, colonial, and even world coins. I think he obtain most of them in purchases of large collections and groups. When branching out into these areas, how do you focus on so many specimens that are hard to obtain.
I always thought it would be great if PCGS pull a couple expert teams together and create Top 100 coin sets for patterns and colonials. Mr. Hansen does have interest in PCGS sets like this. If this was done, then in my opinion the #1 coin for the colonial set would be the Brasher Doubloon. What would be the other 99? Not sure.
I can hear what you are saying, Three Cent Copper Nickel Upgrade, really? Yes, for real. I have not talked about this obsolete series very often. Why? Three Cent Copper Nickels are not a limelight series. They do have a rather nice little following of about 35 active sets with about half of them more than 50% completed. PCGS even describes these coins as “overlooked”. This is what is said about the 22 piece set: The three cent nickel is a popular 19th century set, but most sets are put together in proof, with the circulation strikes being somewhat overlooked. This set is a great challenge, as there are numerous problems with poor strikes, subdued luster, heavily clashed dies and other negative characteristics. A complete set of gem quality is a challenge, indeed! An interesting point to this set, there are 12 coins in the 22 coin set that are PCGS Pop 1/0 specimens. More than 50% of the required coins are unique in grade. Is that usual? Let’s just say that is not common.
This leads to the second point why this set is not readily discussed in a forum dedicated to the D.L. Hansen Collection. This is an impossible set for Mr. Hansen to be able advance to first place. Presently, he is in 5th place in the all-time list. The history is a little fuzzy, but it appears the 4th place Lyons Set was pre-registry and retired around 2000-2001. The 3rd place set, Bruce Scher/Legend, was created circa 2002 and retired in 2005. This set received the Hall of Fame honors even though all four of the POP 1/0 specimens were from the Lyons Set. Humm. Next came the Law set in 2006. In the comments field it is stated that 21 of the coins were from the Scher set with only one purchase from Legend. The set retired in 2008, also being awarded PCGS Hall of Fame. Humm. The Top Pop specimens went dark and was off the grid for about six years before reappearing in 2015 in the present top set. The present collector in number one spot is tompet38 and he have all the POP 1/0 specimens from the previous top sets, plus few additions. Now, the top set has eight of the 12 PCGS POP 1/0 specimens. Why has this set not been awarded the Hall of Fame? Humm. With the current rules and the bonus points given, this set is locked in first place, with or without the HOF.
Clearly, Mr. Hansen has no shot in advancing to the top in this set, but he did add a nice new upgrade. This upgrade now gives him two POP 1/0 Specimens (the top set has 8 out of 12). Hansen’s first POP 1/0 specimen is the 1873 Closed 3 in MS67. This is the finest 1873 in both the open and close variety. He has 5 coins tied for finest PCGS certified. One of the other two remaining PCGS POP 1/0 specimens is the 1866 MS67+. This coin is currently featured in one or more PCGS sets, so I would assume that coin is in one of the high end Type Sets, maybe High Desert. The last available Pop 1/0 specimen is the 1884 MS67+. There are no clues on the whereabouts of this coin. Could be a potential for a future Hansen upgrade? The present Hansen 1884 is the lowest graded coin in the set. He could used a upgrade, and what would be better than the POP 1/0 specimen.
1883 Three Cent Copper Nickel MS67+
The main thing that caught my attention on the coin was the mid-five figure asking price. It appears to be within reason, because the five MS67 specimens are valued at $25,000. The mintage was lower on this coin, but does that really matter? Here is what our expert Ron Guth had to say: In 1883, the mintage of the Three-Cent Nickel dropped precipitously to a mere 4,000 pieces. This was the first time in the history of the denomination that the mintage of the circulation strikes was lower than that of the Proofs, a situation that would continue through 1886, after which the mintages returned to their normal relationship. As might be expected, this date is hard to find in any grade, and it is actually easier, and less expensive, to locate a Proof than it is to find a circulated example. Most of the circulated examples have a small die crack at the top of the reverse, connecting the border and the left tip of the wreath, and another at 3:00. This may be a diagnostic for the Mint State versions, but we've seen some certified Proofs with these same cracks. It could be that at least one pair of dies was used to strike Proofs, then followed by some circulation strikes. If that is the case, there will be some coins of questionable intent, including those that are poorly made Proofs and/or Prooflike early strikes.
This coin has not appeared in auction according to PCGS auction report. I tried to see if I could match an image with previous auctions without any success. The toning of Hansen coin is much more appealing than auction images that I saw. If anyone can make a discovery on the provenance, please let me know.
This coin was marketed by Pinnacle Rarities. The description given on the coin: In 1883, the mintage of the Three-Cent Nickel dropped precipitously to a mere 4,000 pieces. This was the first time in the history of the denomination that the mintage of the circulation strikes was lower than that of the Proofs, a situation that would continue through 1886, after which the mintages returned to their normal relationship. As might be expected, this date is hard to find in any grade, particularly gem and higher. The present example is the single finest graded example at PCGS. In an eBay listing, the ask price was $48,760. On the Pinnacle Rarities website, the coin was offered for $46,000. I doubt we will know what the price Hansen paid for the coin, but this is an amazing coin for a Three Cent Copper Nickel. Do you agree?
1883 Three Cent Copper Nickel, MS67+ PCGS POP 1/0, Gold Shield Certification #35750015, PCGS #3751 PCGS Value Guide: Unknown / Ask $46,000 Provenance: Unknown
The 1883 Three Cents has appeared at auction, but it did not sell:
Stack's/Bowers 8/2019:5127 (as PCGS MS67+ 35750015), not sold - D.L. Hansen Collection (as PCGS MS67+ 35750015)
The 1883 Three Cents has appeared at auction, but it did not sell:
Stack's/Bowers 8/2019:5127 (as PCGS MS67+ 35750015), not sold - D.L. Hansen Collection (as PCGS MS67+ 35750015)
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Thanks Ron, great detective work.
A couple of take-a-ways from this new information. It is interesting the coin passed with a reserve of $35,000. Is the demanded higher now than 12 months ago? Has Mr. Hansen changed his focus?
I doubt he was focusing on this coin in the SBG Sale August 2019. If your recall, the night this coin was passed, Mr. Hansen successfully made the winning bid for the 1894-S Dime, realizing $1,320,000. He also purchased the 1964 SMS Kennedy Half Dollar for $156,000. I can see how he was not focused on the 1883 Three Cent Copper Nickel. If that was not enough, then the Anthony Tarkaszka Collection was the previous night.
The Stacks Bowers Auction describes the coin as: Offered is a truly remarkable Superb Gem Mint State example of a circulation strike three-cent nickel that is highly elusive even in worn condition. Otherwise satiny in texture, the surfaces do reveal extremely subtle semi-reflective tendencies in the fields. Lightly toned in iridescent gold and rose with a razor sharp strike. The pedigree is still a mystery. The only provenance in the sale description that was given: The PCGS CoinFacts Plate Coin. What the heck does that mean in significance?
The 1883 Three Cents has appeared at auction, but it did not sell:
Stack's/Bowers 8/2019:5127 (as PCGS MS67+ 35750015), not sold - D.L. Hansen Collection (as PCGS MS67+ 35750015)
.
.
Thanks Ron, great detective work.
A couple of take-a-ways from this new information. It is interesting the coin passed with a reserve of $35,000. Is the demanded higher now than 12 months ago? Has Mr. Hansen changed his focus?
I doubt he was focusing on this coin in the SBG Sale August 2019. If your recall, the night this coin was passed, Mr. Hansen successfully made the winning bid for the 1894-S Dime, realizing $1,320,000. He also purchased the 1964 SMS Kennedy Half Dollar for $156,000. I can see how he was not focused on the 1883 Three Cent Copper Nickel. If that was not enough, then the Anthony Tarkaszka Collection was the previous night.
The Stacks Bowers Auction describes the coin as: Offered is a truly remarkable Superb Gem Mint State example of a circulation strike three-cent nickel that is highly elusive even in worn condition. Otherwise satiny in texture, the surfaces do reveal extremely subtle semi-reflective tendencies in the fields. Lightly toned in iridescent gold and rose with a razor sharp strike. The pedigree is still a mystery. The only provenance in the sale description that was given: The PCGS CoinFacts Plate Coin. What the heck does that mean in significance?
Being a PCGS plate coin basically means that someone has it displayed in their registry if I recall the stipulation on images being shown.
This is another example of a tale of two cities. Over the weekend, I discussed Three Cent Copper Nickels Circulating Strike set. I described in detail how it is an impossible set for Mr. Hansen to be able advance to the top spot. For the proof set, the story is completely different. The Three Cent Nickels Basic, Proof (1865-1889) set requires 25 coins. PCGS describes the set as: Proof three cent nickels seem to enjoy a greater popularity than their mint state counterparts. This series is slightly longer than the business strike one, and, despite significantly lower mintages, there are far more high-quality proofs on the market than business strikes. The earliest dates of the series are the rarest, with the 1865 being significantly more expensive than the other issues.
Currently, the two top collections (Hansen & tompet38) have created a separation from the remainder in the pact. There are 15 current collectors participating in the registry. Six of them are 100% completed. The tompet38 Collection of Three Cent Copper Nickel Proof set was created 6/1/2015. If I may add, just in time to get the 2014 top set award. Before a few days ago, the tompet38 set has been in first place continuously since 2014. On 6/15, the Hansen Collection moved into first place with this upgrade. Can the Hansen Collection remain in first place to the deadline? Time will tell.
1882 Three Cent Copper Nickel PR68+
This is the finest Three Cent Copper Nickel Proof graded by PCGS, PR68+CAM. In other words, this is a #1 type coin. There two other PR68+ non-CAM specimens and the highest DCAM Three Cent Copper Nickel specimens are six PR67+DAM. As for 1882 Specimens, there is one other specimen graded PR68+ Non-CAM. There are seven 1882 PCGS graded PR68CAM specimens. The latest public auction appearance for PR68CAM coin was in a Heritage sale in April 2020. That coin realized $3,600 with a PCGS value of $7,200.
The Hansen PR68+CAM coin has not appeared in auction according to PCGS auction report. I tried to see if I could match an image with previous auctions without any success. High grade proofs appear more difficult to compare images than mint state coins. The story to tell is this is the finest PCGS grade proof Three Cent Copper Nickel. Also, the purchase of this coin placed the D.L Hansen Collection Three Cent Copper Nickel Proofs first placed in the registry.
This coin was marketed by Northern Nevada Coins. A brief basic description was given for the coin: 1882 Three Cent Nickel PCGS PR-68+ CAM designed by James Barton Longacre. On the NNC website, the coin was offered for $16,125. This seems reasonable if the PR68CAM is valued at $7,200. If the coin is only valued as last auction, $3,600, then I would question this ask price. It would be interesting to know what the coin actually sold for, but I doubt we will ever know.
1882 Three cent Copper Nickel, PR68+CAM PCGS POP 1/0, Gold Shield Certification #38676801, PCGS #83778 PCGS Value Guide: Unknown / Ask $16,125 Provenance: Unknown
The provenance on the PCGS PR68+CAM 1882 3CN is:
Legend Rare Coin Auctions 3/2020:190 (as PCGS PR68+CAM 38676801), not sold - D.L. Hansen Collection (as PCGS PR68+CAM 38676801)
I am trying to determine the meaning of this. In my internet lookup, these are some possibilities. I am still not sure of the meaning in this particular posting. If I have to go with one, I would choose 5.
1 It's entirely a matter of opinion and context. I often send just a single space as a quirky alternative to a question mark (if I'm waiting for someone to text me, and I just want to "nudge" them into getting on with it).
2 In some contexts sending a single period (or something of that ilk) is used to "keep the line open" and indicate that the person is still there on the other end (perhaps awaiting something from your end).
3 On MetaFilter a dot indicates a moment of silence: faq.metafilter.com/#4 This usage has since leaked into other areas, especially the corners of the blogosphere and Twitter that intersect with MeFi's user base. I don't think it (or opportunities for its use) are common enough to be the true answer to the question, though.
4 Among my North American 20-something years old peers, a single dot is usually used to indicate "I read your message, but have nothing to say in reply".
5 Fwiw, I'm a native English speaker, and I would have no clue what this meant. I'd probably assume it was a mistake, and would ask if the person meant to type something but didn't.
A post with just a period ( . ) may mean that a person wrote something more extensive,
but then changed their mind and wanted to delete it.
However, the forum software complains if you try to edit a post to make it "empty".
So leaving a period there will remove almost all of it.
I am not a visitor to the major shows. I am closing fast into retirement, and attending these shows may be an enjoyable retirement activity. Working at the shows would be like icing on a cake. I mention this to say, at some point I would love to see Mr. Hansen showcase selections from his great collection at these major shows. I think an enjoyable number for display (and not over whelm) is somewhere between 200 – 300 coins. This 201 piece basic set of Liberty Half Eagles would make a great display. I think the major varieties could be fantastic addition to make the display 220 coins. I would travel to my first major show to see this set on display with the 1854-S.
It appears the Liberty Half Eagle upgrades just keep coming without checking up. This coin makes the 25th upgrade since January. It is another PCGS Pop 1/0 specimen for a coin that could be called a common date for the mint. Also, this coin has been floating around on the web and offered in a couple auctions over the past few months. Are we seeing these coins showing up in the Hansen Collection because current conditions are favorable for Hansen buying into this set? I know I had discussed and talked about Liberty Half Eagles to a point that you may be sick of hearing about them. I go where that collection takes me, and Liberty Half Eagles have been where a lot of action is. So we will go there again today. If treads continue, maybe again next week!
As we have seen with several of the recent Liberty Half Eagle upgrades, the coin being replaced is not a looser. In this case, the specimen being kicked down to the second string is an 1886-S MS65 Certification #84018519, POP 26/1. There are 26 specimens certified MS65, and none are certified as MS65+. The new Hansen specimen is a full point better that the pack of second best coins. Only expect comment given on this coin is from David Akers. The 1886-S is a very common date in any condition including choice uncirculated.
1886-S Half Eagle PCGS MS66
The 26 coins in MS65 grouping are PCGS valued at $2500. The most recent sale was a non-CAC in Legend’s Regency Auction 32, May 2019. The auctioneer estimated the coin to bring $2,000 - $2,400. In the 2019 description, the coin listed in the PCGS Price Guide at $3,850. The coin realized only $1410. As you can see, the value of this coin has taken a big hit in the past year. The value for the MS66 takes a big jump to $13,500 according to PCGS Price Guide (I am not sure how this price was determined, a MS66 specimen never actually sold for this amount).
The coin has sold twice in recent Heritage Auctions. I would assume in first sale the coin was purchased by an investor or dealer, and not a collector. The first auction, December 2019, the coin realized $10,800. The second auction, June 7th, 2020, the coin sold for less than $10K, realizing $9,900. The coin was described in auction as “Sole-Finest at PCGS”. There is one competitor for the top spot being a coin described as “Spectacular NGC MS66 with Star” that appeared in a 2008 Heritage Auction. The Hansen PCGS MS66 holds the auction record of $10,800 from December 2019 sale. The auctioneer described the coin as: With a large mintage of more than 3.2 million pieces, the 1886-S is readily available in most grades including the lower Mint State ranks. Gem or finer examples are rare, seen less often than surrounding San Francisco dates despite their lower mintages. Premium Gem examples are virtually unknown, with just one example at PCGS and another sole example at NGC. None are finer at either service. This is the solitary PCGS coin certified MS66. Richly frosted, straw-gold surfaces display attractive rose-gold undertones, while cartwheel mint luster radiates from each side. A sharp strike exists throughout. A few light marks flank the eagle, yet the obverse is virtually unmarked and eye appeal is spectacular.”
Between these sales, the coin was offered on Park Avenue Numismatics website. This was early May, prior to the most recent Heritage Sale. The ask price on the coin was $13,570. It appears that Mr. Hansen patiently waited on the coin to go back to auction. I do not know for a fact, but it would not surprise me if Mr. Hansen was the under bidder in the first Heritage Sale. I know for a fact, he is the under bidder on a lot of coins. It appears he may have won the coin in the second auction for around the amount he was willing to pay in the first auction. Whoever it was that out bided him and tried to flip the coin for a profit lost on this one. Note, I am not implying that was Park Avenue Numismatics, I am just saying they were marketing the coin and that could have been for someone else.
Final thoughts. I could not determine the provenance or pedigree for this POP 1/0 Coin. According to my account, there are at least 44 more POP 1/0 Liberty Half Eagles somewhere out there. Some of them could be in your hands as you read this posting. I am confident this will not be the last top pop upgrade in this set. How many more are there that Mr. Hansen has tried to buy or made offers, but the price was a little off? In this case, the auction record price at $10,800 was too much, but Mr. Hansen later acquired the coin for $9,900. Nine hundred dollars was a make or break point on this $10,000 coin. Interesting to set back and watch. I hope you enjoy it as I do.
1888-S Liberty Half Eagle PCGSS MS66 PCGS POP 1/0, Gold Shield Certification #38143411, PCGS #8370 PCGS Value Guide: $13,500 / Realized $9,900 Provenance: Unknown
@skier07 said:
So Hansen pays $2M for the 54-S $5 and he held out on a pop 1 86-S $5 for $800. This doesn’t make a lot of sense to me unless I’m missing something.
Since there are hundreds of potential upgrades, the principle is to buy them if the price is "reasonable".
It is a somewhat fuzzy concept, but he has time and patience, so it seems to work pretty well.
@skier07 said:
So Hansen pays $2M for the 54-S $5 and he held out on a pop 1 86-S $5 for $800. This doesn’t make a lot of sense to me unless I’m missing something.
Since there are hundreds of potential upgrades, the principle is to buy them if the price is "reasonable".
It is a somewhat fuzzy concept, but he has time and patience, so it seems to work pretty well.
.
.
Well, this is not easy to answer in 25 words or less. Although @yosclimber did a pretty good job with about 35 words. In the past 12 months, I do not think the Hansen philosophy to his purchasing has change, but the application has evolved considerably. His philosophy has been provided by John Brush on several occasions, I will provide again as a review. It goes something like this:
If a coin becomes available that will improve the set (he means the HOF set), and is being offered at a fair price, then we are interested in buying.
When referring to the upgrades, I have recently heard JB used the term that an upgrade is insignificant to the collection. What this means, no one coin (like the pop 1 86-S $5) has any real significance, alone. This is especially true if the coin being replaced is tied for second finest known. I don’t think JB and Mr. Hansen are having daily discussions on should they spend an additional $800 to buy any particular upgrade. With John Brush’s experience, he knows the market value and when the bidding exceeds that predetermine fair market value, the bidding ends for the Hansen team. Another way to put it, this bid is just a buying process as any experience dealer would handle a similar situation. This has not always been the case on some early bidding.
June 27th 2019
This is a monumental date for the Hansen Collection. History tells us that June 7th, 1944 was the day that changed the course of World War II. I believe from what I am seeing and have seen the past year, June 27th 2019 was the day that changed the course of the Hansen Collection. Prior to this day, Mr. Hansen would determine certain coins that he desired in his collection and would get into bidding wars to obtain them. Have you witness any bidding wars the past 12 months? I have not.
Prior to June 27th 2019, I believe there were some actors that were bidding up desirable coins. I don’t think that is happening as much today, because there is now a fear that Mr. Hansen may leave other bidder holding the coin. I know of one case that an ultra-rarity was bided up to a high premium, and Hansen dropped out. The coin was offered to him several times but he would not buy. The coin sold in a recent auction and the collector loss was significant. Mr. Hansen could have bought the coin around $100K cheaper in the fire sale auction. He decided he did not want the coin.
As I stated, this new application of Hansen’ philosophy has really change the course of this collection. There are upcoming auctions with probably 20-25 coins that are perfect coins to improve the Hansen Collection. I am not expecting Mr. Hansen to get into any bidding wars over these coins. If he is high bidder for any of them at a predetermine fair market price, we may see him buying a few. The days of overpaying for a coin that only upgrade a collection that is already pretty darn good, I think is over. This is very unfortunate turn of events for the sellers and the auction houses involved.
@skier07 said:
So Hansen pays $2M for the 54-S $5 and he held out on a pop 1 86-S $5 for $800. This doesn’t make a lot of sense to me unless I’m missing something.
Since there are hundreds of potential upgrades, the principle is to buy them if the price is "reasonable".
It is a somewhat fuzzy concept, but he has time and patience, so it seems to work pretty well.
.
.
Well, this is not easy to answer in 25 words or less. Although @yosclimber did a pretty good job with about 35 words. In the past 12 months, I do not think the Hansen philosophy to his purchasing has change, but the application has evolved considerably. His philosophy has been provided by John Brush on several occasions, I will provide again as a review. It goes something like this:
If a coin becomes available that will improve the set (he means the HOF set), and is being offered at a fair price, then we are interested in buying.
When referring to the upgrades, I have recently heard JB used the term that an upgrade is insignificant to the collection. What this means, no one coin (like the pop 1 86-S $5) has any real significance, alone. This is especially true if the coin being replaced is tied for second finest known. I don’t think JB and Mr. Hansen are having daily discussions on should they spend an additional $800 to buy any particular upgrade. With John Brush’s experience, he knows the market value and when the bidding exceeds that predetermine fair market value, the bidding ends for the Hansen team. Another way to put it, this bid is just a buying process as any experience dealer would handle a similar situation. This has not always been the case on some early bidding.
June 27th 2019
This is a monumental date for the Hansen Collection. History tells us that June 7th, 1944 was the day that changed the course of World War II. I believe from what I am seeing and have seen the past year, June 27th 2019 was the day that changed the course of the Hansen Collection. Prior to this day, Mr. Hansen would determine certain coins that he desired in his collection and would get into bidding wars to obtain them. Have you witness any bidding wars the past 12 months? I have not.
Prior to June 27th 2019, I believe there were some actors that were bidding up desirable coins. I don’t think that is happening as much today, because there is now a fear that Mr. Hansen may leave other bidder holding the coin. I know of one case that an ultra-rarity was bided up to a high premium, and Hansen dropped out. The coin was offered to him several times but he would not buy. The coin sold in a recent auction and the collector loss was significant. Mr. Hansen could have bought the coin around $100K cheaper in the fire sale auction. He decided he did not want the coin.
As I stated, this new application of Hansen’ philosophy has really change the course of this collection. There are upcoming auctions with probably 20-25 coins that are perfect coins to improve the Hansen Collection. I am not expecting Mr. Hansen to get into any bidding wars over these coins. If he is high bidder for any of them at a predetermine fair market price, we may see him buying a few. The days of overpaying for a coin that only upgrade a collection that is already pretty darn good, I think is over. This is very unfortunate turn of events for the sellers and the auction houses involved.
You have to wonder whether all of them were real bidders or shills.
“The coin sold in a recent auction and the collector loss was significant.”
I have no idea what coin or auction you are even referring to, but, it might be a stretch to call it a “collector” loss. “Collectors” are typically not buying ultra rarities for their collection and then selling them off months later to begin with - let alone at a six figure loss in a fire sale. Highly unusual, although not impossible. I do know of some “investor/dealers” who might speculate on buying a coin Mr. Hansen needs in the hope he might pay more later, but, again, the idea is not to sell it off in a “fire sale” months later.
Just my two cents.
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
I do know of some “investor/dealers” who might speculate on buying a coin Mr. Hansen needs in the hope he might pay more later......
This sounds pretty risky in my opinion. It is a little bit like investing in oil futures. Then, that’s just me. I would never draw to an inside straight. If I recall the odds, it is about 11 to 1.
I do know of some “investor/dealers” who might speculate on buying a coin Mr. Hansen needs in the hope he might pay more later......
This sounds pretty risky in my opinion. It is a little bit like investing in oil futures. Then, that’s just me. I would never draw to an inside straight. If I recall the odds, it is about 11 to 1.
An expert poker player would draw to an inside straight if the pot odds or implied odds are better than the odds of hitting it, which may well be better than 11:1 in a game with exposed cards. Just as a point of information. Bidding in a coin auction against Hansen is probably more akin to playing chicken than poker, though.
@skier07 said:
So Hansen pays $2M for the 54-S $5 and he held out on a pop 1 86-S $5 for $800. This doesn’t make a lot of sense to me unless I’m missing something.
Since there are hundreds of potential upgrades, the principle is to buy them if the price is "reasonable".
It is a somewhat fuzzy concept, but he has time and patience, so it seems to work pretty well.
.
.
Well, this is not easy to answer in 25 words or less. Although @yosclimber did a pretty good job with about 35 words. In the past 12 months, I do not think the Hansen philosophy to his purchasing has change, but the application has evolved considerably. His philosophy has been provided by John Brush on several occasions, I will provide again as a review. It goes something like this:
If a coin becomes available that will improve the set (he means the HOF set), and is being offered at a fair price, then we are interested in buying.
When referring to the upgrades, I have recently heard JB used the term that an upgrade is insignificant to the collection. What this means, no one coin (like the pop 1 86-S $5) has any real significance, alone. This is especially true if the coin being replaced is tied for second finest known. I don’t think JB and Mr. Hansen are having daily discussions on should they spend an additional $800 to buy any particular upgrade. With John Brush’s experience, he knows the market value and when the bidding exceeds that predetermine fair market value, the bidding ends for the Hansen team. Another way to put it, this bid is just a buying process as any experience dealer would handle a similar situation. This has not always been the case on some early bidding.
June 27th 2019
This is a monumental date for the Hansen Collection. History tells us that June 7th, 1944 was the day that changed the course of World War II. I believe from what I am seeing and have seen the past year, June 27th 2019 was the day that changed the course of the Hansen Collection. Prior to this day, Mr. Hansen would determine certain coins that he desired in his collection and would get into bidding wars to obtain them. Have you witness any bidding wars the past 12 months? I have not.
Prior to June 27th 2019, I believe there were some actors that were bidding up desirable coins. I don’t think that is happening as much today, because there is now a fear that Mr. Hansen may leave other bidder holding the coin. I know of one case that an ultra-rarity was bided up to a high premium, and Hansen dropped out. The coin was offered to him several times but he would not buy. The coin sold in a recent auction and the collector loss was significant. Mr. Hansen could have bought the coin around $100K cheaper in the fire sale auction. He decided he did not want the coin.
As I stated, this new application of Hansen’ philosophy has really change the course of this collection. There are upcoming auctions with probably 20-25 coins that are perfect coins to improve the Hansen Collection. I am not expecting Mr. Hansen to get into any bidding wars over these coins. If he is high bidder for any of them at a predetermine fair market price, we may see him buying a few. The days of overpaying for a coin that only upgrade a collection that is already pretty darn good, I think is over. This is very unfortunate turn of events for the sellers and the auction houses involved.
I think what Hansen is doing is fairly unique so general rules may not make sense for his purchases. Since by definition he needed/needs every coin in the best condition possible, paying whatever it takes in each instance would be counterproductive. I think when people are critical when he passes on coins they believe are "must have" ----they make his point---he is saying nothing is a "must have". Passing on coins routinely may lose the battle but in the end win the war by making coins available at fair market value.
@skier07 said:
So Hansen pays $2M for the 54-S $5 and he held out on a pop 1 86-S $5 for $800. This doesn’t make a lot of sense to me unless I’m missing something.
Since there are hundreds of potential upgrades, the principle is to buy them if the price is "reasonable".
It is a somewhat fuzzy concept, but he has time and patience, so it seems to work pretty well.
.
.
Well, this is not easy to answer in 25 words or less. Although @yosclimber did a pretty good job with about 35 words. In the past 12 months, I do not think the Hansen philosophy to his purchasing has change, but the application has evolved considerably. His philosophy has been provided by John Brush on several occasions, I will provide again as a review. It goes something like this:
If a coin becomes available that will improve the set (he means the HOF set), and is being offered at a fair price, then we are interested in buying.
When referring to the upgrades, I have recently heard JB used the term that an upgrade is insignificant to the collection. What this means, no one coin (like the pop 1 86-S $5) has any real significance, alone. This is especially true if the coin being replaced is tied for second finest known. I don’t think JB and Mr. Hansen are having daily discussions on should they spend an additional $800 to buy any particular upgrade. With John Brush’s experience, he knows the market value and when the bidding exceeds that predetermine fair market value, the bidding ends for the Hansen team. Another way to put it, this bid is just a buying process as any experience dealer would handle a similar situation. This has not always been the case on some early bidding.
June 27th 2019
This is a monumental date for the Hansen Collection. History tells us that June 7th, 1944 was the day that changed the course of World War II. I believe from what I am seeing and have seen the past year, June 27th 2019 was the day that changed the course of the Hansen Collection. Prior to this day, Mr. Hansen would determine certain coins that he desired in his collection and would get into bidding wars to obtain them. Have you witness any bidding wars the past 12 months? I have not.
Prior to June 27th 2019, I believe there were some actors that were bidding up desirable coins. I don’t think that is happening as much today, because there is now a fear that Mr. Hansen may leave other bidder holding the coin. I know of one case that an ultra-rarity was bided up to a high premium, and Hansen dropped out. The coin was offered to him several times but he would not buy. The coin sold in a recent auction and the collector loss was significant. Mr. Hansen could have bought the coin around $100K cheaper in the fire sale auction. He decided he did not want the coin.
As I stated, this new application of Hansen’ philosophy has really change the course of this collection. There are upcoming auctions with probably 20-25 coins that are perfect coins to improve the Hansen Collection. I am not expecting Mr. Hansen to get into any bidding wars over these coins. If he is high bidder for any of them at a predetermine fair market price, we may see him buying a few. The days of overpaying for a coin that only upgrade a collection that is already pretty darn good, I think is over. This is very unfortunate turn of events for the sellers and the auction houses involved.
I think what Hansen is doing is fairly unique so general rules may not make sense for his purchases. Since by definition he needed/needs every coin in the best condition possible, paying whatever it takes in each instance would be counterproductive. I think when people are critical when he passes on coins they believe are "must have" ----they make his point---he is saying nothing is a "must have". Passing on coins routinely may lose the battle but in the end win the war by making coins available at fair market value.
If he was in his 30s or 40s I would agree. He is much older. The coins might not come up for sale again in his life time. He was really lucky with the Pogue 1854-s $5. With that said, I can understand avoiding coin sharks on principle even if it means having an incomplete set.
@skier07 said:
So Hansen pays $2M for the 54-S $5 and he held out on a pop 1 86-S $5 for $800. This doesn’t make a lot of sense to me unless I’m missing something.
Since there are hundreds of potential upgrades, the principle is to buy them if the price is "reasonable".
It is a somewhat fuzzy concept, but he has time and patience, so it seems to work pretty well.
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Well, this is not easy to answer in 25 words or less. Although @yosclimber did a pretty good job with about 35 words. In the past 12 months, I do not think the Hansen philosophy to his purchasing has change, but the application has evolved considerably. His philosophy has been provided by John Brush on several occasions, I will provide again as a review. It goes something like this:
If a coin becomes available that will improve the set (he means the HOF set), and is being offered at a fair price, then we are interested in buying.
When referring to the upgrades, I have recently heard JB used the term that an upgrade is insignificant to the collection. What this means, no one coin (like the pop 1 86-S $5) has any real significance, alone. This is especially true if the coin being replaced is tied for second finest known. I don’t think JB and Mr. Hansen are having daily discussions on should they spend an additional $800 to buy any particular upgrade. With John Brush’s experience, he knows the market value and when the bidding exceeds that predetermine fair market value, the bidding ends for the Hansen team. Another way to put it, this bid is just a buying process as any experience dealer would handle a similar situation. This has not always been the case on some early bidding.
June 27th 2019
This is a monumental date for the Hansen Collection. History tells us that June 7th, 1944 was the day that changed the course of World War II. I believe from what I am seeing and have seen the past year, June 27th 2019 was the day that changed the course of the Hansen Collection. Prior to this day, Mr. Hansen would determine certain coins that he desired in his collection and would get into bidding wars to obtain them. Have you witness any bidding wars the past 12 months? I have not.
Prior to June 27th 2019, I believe there were some actors that were bidding up desirable coins. I don’t think that is happening as much today, because there is now a fear that Mr. Hansen may leave other bidder holding the coin. I know of one case that an ultra-rarity was bided up to a high premium, and Hansen dropped out. The coin was offered to him several times but he would not buy. The coin sold in a recent auction and the collector loss was significant. Mr. Hansen could have bought the coin around $100K cheaper in the fire sale auction. He decided he did not want the coin.
As I stated, this new application of Hansen’ philosophy has really change the course of this collection. There are upcoming auctions with probably 20-25 coins that are perfect coins to improve the Hansen Collection. I am not expecting Mr. Hansen to get into any bidding wars over these coins. If he is high bidder for any of them at a predetermine fair market price, we may see him buying a few. The days of overpaying for a coin that only upgrade a collection that is already pretty darn good, I think is over. This is very unfortunate turn of events for the sellers and the auction houses involved.
I think what Hansen is doing is fairly unique so general rules may not make sense for his purchases. Since by definition he needed/needs every coin in the best condition possible, paying whatever it takes in each instance would be counterproductive. I think when people are critical when he passes on coins they believe are "must have" ----they make his point---he is saying nothing is a "must have". Passing on coins routinely may lose the battle but in the end win the war by making coins available at fair market value.
If he was in his 30s or 40s I would agree. He is much older. The coins might not come up for sale again in his life time. He was really lucky with the Pogue 1854-s $5. With that said, I can understand avoiding coin sharks on principle even if it means having an incomplete set.
I understand why you use the term an "incomplete set" but i find it hard to use any fashion with the Hansen collection (im probably reading more into it then you intended). First, im assuming he will have one or two coins that he will simply not acquire. Rather than describe it as an incomplete set i look at his collection as an amazing collection. Further, his collection is chalk full of complete sets of various series. If he does miss out on a coin or two using his strategy (and the jury is out on this), i dont think anyone will view it as an incomplete set.
New Leader in Seated Liberty Proof Quarter Dollars
I have written several times on D.L. Hansen Proof Quarter Dollars. The most attention goes to the pre 1858 proof set. This posting is dedicated to the Seated Liberty Quarters, Proof (1858-1891) set. The set is only 35 coins, but it is not a piece of cake by any means. Well maybe it is. PCCS describes the set as: This set contains the final years of the No Motto quarters, all of the With Motto quarters plus the two With Motto quarters with Arrows at Date. The good news is that every coin is affordable (relatively speaking) and available (at times) for a price. Yes, you have to find 35 different dates, but this set will stop the show when you complete it. From the pre-Civil War days to the final decade of the 19th century this series is filled with history. Not any of the coins are extremely tough to acquire, but the most difficult are the three to four years that are pre-civil war. Theses years are also the first years in the set from 1858 to 1861.
Mr. Hansen recently upgraded four coins in the set and propelled him to the top of the rankings. Forum member @SeatedToners wrote this in another thread a few days ago: Anyone else follow the registry sets for seated quarters? looks like there has been some movement in the rankings. For the past 5 years SImpson has had the #1 set and I just logged in this morning and it looks like Hansen has overtaken. The top 4 sets are all showing as "updated" and it looks like 3 of them list DLH as the user so maybe he bought another set to combine and overtake Simpson. Mr. Simpson created his set on 1/28/2015. His set has been number one since that first day. Mr. Hansen upgraded his set on 6/25/2020 and took the lead. The third coin he upgraded put him in first place, but he upgraded a fourth for good measure.
As you can see, two of the upgrades were PCGS POP 2/0, tied for finest. The 1873 with Arrows specimen has only one coin graded by PCGS finer. The difficult 1858 is a cameo beauty. The coin is not the finest graded, but I wonder where it ranks in appeal. I will wrap up by showing you the D. L. Hansen of Proof Seated Liberty Quarter Dollars are more than one set deep. In fact, Mr. Hansen has three of the top 4 current sets. He holds first and fifth on the all-times list. Let’s not forget, he has a great start on the early Seated Liberty Proof Quarter Dollars (1838-1857). I will plan to give an update on that set in the next couple days.
1858 Seated Liberty Quarter Dollar Proof PR64+ CAM
The Hansen coin is a half of a tick below GEM, dressing out at PR64+ CAM. He has a GEM proof in his #3 tribute set to Diana. There is one other coin that is PCGS graded PR65 CAM. There are handful of non-CAM technically better graded specimens than Hansen’s PR64+ CAM, including Diana’s and the coin that was part of the Eliasberg Collection. This is the comment provided by our expert Ron Guth: Proof 1858 Quarter Dollars are very rare. Estimated mintages range from a low of 80 Proofs to as many as 300. The PCGS Population Report suggests that the mintage of 80 Proofs is far too low and that the correct number is probably somewhere between 200 and 300 Proofs. Cameo Proofs represent approximately 20 percent of the total population; Deep Cameo Proofs are extremely rare. The finest Proof 1858 Quarter Dollar is the Eliasberg example, now in an NGC PR67 holder. This particular coin has appeared on the market at least eight times since the 1997 Eliasberg sale and appears to have finally found a permanent home in 2016 (at a price less than 50% of its former high).
When I did some research and discovered the price this coin was offered, I was very surprised. Another forum member wrote this recently: @rhedden said: People who build proof Seated sets usually have a lot of funds at their disposal, and they want the best of the best coins- PR67 and higher, pretty toning, CAC, the works. Seated coins in grades like PR63 and PR64 have really dropped in price, as they don't appeal to the Registry whales, and they are too expensive for a lot of collectors to put together a set. Plus, they often have hairlines in the fields, so "yuck." Who is going to buy them? If a middle-class collector wants a nice proof type coin, they buy one in PR65 or better, but they don't often put together complete sets of proofs in PR63….. Seated Proofs are now considered junk by some people, even less desirable than Chuck E. Cheese tokens with pizza stains on them.
I could have featured one of the other more expensive upgrades that Mr. Hansen purchased recently. The 1873 with Arrows, PR67, POP 1/1, valued at $24,000. The 1874 with Arrows, CAM PR67+ CAM, POP 2/0, valued at $32,500. Or, the 1889 25C PR68, POP 2/0 CAC Approved, valued at $17,500. Instead, I am featuring an 1858 PR64+ CAM, POP 2/6 valued at only $4,000. I think this coin proves the point being made by @rhedden. Mr. Hansen’s other known 1858 proofs, includes a PR64CAM and the Diana set has a GEM PR65, POP 4/2!
The 1858 Seated Liberty Quarter, PCGS PR64+CAM was offered on Sarasota Numismatics Website. The ask price of only $2,750. This is a pretty fair price in reference to last auction. The coin appeared in Heritage’s August 2017 ANA US Coins Signature Auction in Denver. The coin realized $2,702.50. The auctioneer description: From the first year of the Mint's commercial proof offerings. Despite some vivid highlights of burnt-orange, lavender-gray, and cerulean-blue toning, this Plus-graded Choice specimen displays intense cameo contrast between the deeply mirrored fields and the sharply detailed, frosty design elements. The surfaces are well-preserved, with a couple of tiny lint marks in the lower right obverse field that serve as pedigree markers. No provenance given. I will be interesting in watching to see how long this coin remains as the top 1858 Seated Liberty Proof Quarter Dollar Specimen in the D.L. Hansen Hall of Fame Collection.
1858 Seated Liberty Proof Quarter Dollar, CAM PR64+ PCGS POP 2/1 for CAM, POP 2/6 Certification #84213707, PCGS #85554 PCGS Value Guide: $4,000 / Realized $2,750 Provenance: Heritage’s August 2017 ANA US Coins Signature Auction in Denver
@Gazes said:>
I understand why you use the term an "incomplete set" but i find it hard to use any fashion with the Hansen collection (im probably reading more into it then you intended). First, im assuming he will have one or two coins that he will simply not acquire. Rather than describe it as an incomplete set i look at his collection as an amazing collection. Further, his collection is chalk full of complete sets of various series. If he does miss out on a coin or two using his strategy (and the jury is out on this), i dont think anyone will view it as an incomplete set.
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There are only two coins that I believe Mr. Hansen feels they are very important for him in “completing” his goal. I not going to say which two they are, but if you have been watching the thread you should know. There are some coins that he has no desire to purchase and he feels they are not significant or does not fit his goals. So, I am not sure he would agree to calling this “missing out” if the coin is not what he is personally seeking, i.e., the 1913 Nickel, and the two 1880 Stella’s. He has no need spend 6-8 Million Dollars on coins without a desire to add to his collection. Many of us may disagree, but it is his collection and his money. If he doesn’t desire something, so be it. You can call it missing out or something else.
New Addition - Seated Liberty Proof Quarter Dollar.
When discussing the Seated Liberty Proof Quarters (1838-1857) set, the dialogue leads us in a very different direction than the discussion two days ago with the 1858-1891 set. This is not a set for an average collector of Proof Quarters Dollars. The 1838-1857 set requires only 19 coins. PCGS describes the set as: This set contains a number of rarities. PCGS has certified only one 1838 No Drapery, 1846 and 1850. No 1839 No Drapery, 1840 Drapery, 1842 Large Date, 1842 Small Date, 1843, 1844, and 1852 have been certified! The set also contains the ultra-rare Proof 1853 Arrows & Rays (a one-year type coin) and other major rarities. Well…let’s get started!
You can start this set, but I not sure if anyone can finish it, including Mr. Hansen. John Jay Pittman’s completion was 84.21%. I don’t know how far Phil Kaufman got, but I don’t think he was complete. Anyone know? With the most recent upgrade, Mr. Hansen’s set is 68.42% complete. Before discussing the six missing coins, let’s take a look at the 13 coins in his set now. Of the 13 coins, six are PCGS Pop 1/0 specimens and one is POP 3/0, tied for finest certified by PCGS. All coins are condition census top 5 except for the 1855 25C Arrows PR63 Certification #84984411, POP 4/5. At least six of Hansen coins are Ex: Kaufman Specimens. This should give you a feel for the quality of this set. Before we look at the new addition, let’s see what effort (or luck) will be needed to complete the set.
The difficulty with the last six coins is incredible! As some of you know, proofs of this era come with controversy. Are they proof or proof like? There are some years that PCGS has not certified an example. There is a big risk in purchasing non-PCGS certified proof coins with hopes to cross to PCGS. This certainly is not an automatic process and in some cases, Mr. Hansen is very hesitant in purchasing anything other than PCGS. At this time, he doesn’t feel that he needs to take the risk.
For the six remaining coins, I have given a brief description. A description by Expect Ron Guth is provided when I could find one. For a couple coins, I had to write a brief summary. The 1854 with Arrows (Proof) may be the only coin that Mr. Hansen can find readily. The other five have very low mintage and for a couple may be unique. In a couple cases, PCGS has not certified a specimen. That could lead to concerns of not being able to locate a specimen that will cross to PCGS holder.
1838 25C Seated, No Drapery (Proof) Mintage: 3
Ron Guth: Only one Proof 1838 Seated Liberty Quarter Dollar is known to exist. This unique item first appeared in a 1954 Stack's auction and has appeared on the market only three times since then. Between 1957 and 2013 (over half a century), the coin was sequestered in an unknown collection. For a short time, this coin was one of the highlights of the Gene Gardner collection, who paid a record price for it in 2013.
1839 25C No Drapery (Proof) Mintage: 2
Ron Guth: The 1839 No Drapery Quarter Dollar is one of the greatest Proof rarities of the entire United States series. It is believed to be unique, and it is known by only the Boyd-Pittman-Kaufman-Gardner coin in NGC PR65. According to Akers, Pittman considered this singular coin one of the highlights of his collection. At its peak in the sale of the Kaufmann collection, this coin sold for over half a million dollars. Subsequent sales have seen a downward trend and in the 2014 sale of the Gardner collection, this coin realized just over $270,000, barely more than half its peak price. PCGS has not certified an 1853 25C Arrow & Rays (Proof) according to the PCGS POP Report.
1844 25C (Proof) Mintage: 5
PCGS gives Survival Estimate at four, only one certifiable condition. There may be a second specimen in National Numismatic Collection at the Smithsonian Institution, but I am not sure it has been verified. The third example is a PCGS cert #37806074 that is presently on the market for $82,500. This specimen is PCGS PR Genuine with UNC Details (97 - Environmental Damage). PCGS has certified one GEM, the Pittman – Kaufman PR65 Specimen that holds the auction record of $322,000 realized January 2008.
1852 25C (Proof) Mintage: 2
There were two coins minted in 1852. This is a boom year compared to 1851 that had none minted. PCGS gives Survival Estimate at two with only one is available and been certified. In a 2015 Heritage Auction, it was stated that the Ex: Pittman-Kaufman Specimen is the only proof available to collectors. The coin is an 1844 25C PR66 NGC. This Specimen that holds the auction record of $143,750 realized January 2004. Heritage lists a second specimen in American Numismatic Society, EX: R.C.H. Brock; J.P. Morgan. PCGS has not certified an 1852 25C (Proof) according to the PCGS POP Report.
1853 25C Arrows & Rays (Proof) Mintage: 5
Ron Guth: Proof 1853 Arrows & Rays Quarter Dollars are extremely rare...and confusing. Some are stone-cold, undisputed Proofs, such as the Kaufman NGC PR66CAM that once sold for $276,000. Others, like the Norweb and Eliasberg examples, started out as Prooflike Mint State pieces but have subsequently been called Proofs. Even David Akers had trouble with the Pittman example because it was Proof on the obverse, but not Proof within the shield stripes on the reverse (Akers ended up calling the Pittman coin a Proof; NGC concurred by calling it a PR64). Including the Proof-ish examples, there are approximately seven or eight examples known. One example is held in the National Numismatic Collection at the Smithsonian Institution. The Kaufman and Eliasberg examples are Cameo Proofs.
1854 25C Arrows (Proof) Mintage: 10
Ron Guth: Proof 1854 Quarter Dollars are exceedingly rare. Estimates of ten to fifteen examples have been floated about, which seems to be reasonable (we have images of nine demonstrably different examples, plus there are some examples we have not seen or for which we have not yet obtained images). The quality of the surviving examples is pretty good, usually in the PR64 to PR65 range, indicating that collectors purchased them and protected them well. Most are brilliant Proofs, though there are some Cameo examples. Unlike the Proof 1853 Arrows & Rays Proof Quarters, these are all convincing Proofs. The examples with the highest numerical grades are two NGC PR66's: one from the Pittman Collection and another from the Eliasberg Collection.
1849 Seated Liberty Proof Quarter, PR65+
As fine as this coin, there are two that are graded better. The mintage for the 1849 proof is eight. PCGS Survival Estimate is six. All six can be seen in this roster compiled by Heritage Auctions.
1. Pittman / Gardner Specimen - PR66 PCGS CAC: R. Green (10/11/1949); John Jay Pittman (David Akers, 5/1998), lot 1315, Eugene Gardner Collection (Heritage, 5/2015), lot 98376.
2. Clapp / Eliasberg Specimen - PR66 PCGS: William Dickinson Collection (Chapman Brothers, 3/1894); J.M. Clapp; J.H. Clapp. Clapp estate, 1942; Louis E. Eliasberg, Sr.; Eliasberg Estate (Bowers and Merena, 4/1997), lot 1445; Heritage (2/1999), lot 5915.
3. Hansen Specimen - PR65+ PCGS: From a numismatic holding formed in the 1950s; Long Beach Expo (Heritage, 6/2015), lot 3915; US Coins Signature (Heritage, 12/2019), lot3082.
4. Garrett / Kaufman Specimen - PR65 PCGS CAC: J. Colvin Randall Collection; John Work Garrett Collection, Johns Hopkins University (Stack's, 3/1976), lot 160; Kenneth C. Long Estate (Bowers and Merena, 5/1995), lot 1089; Phil Kaufman Collection, Part Three (Heritage, 4/2008), lot 2390; Greensboro Collection, Part III (Heritage, 4/2013), lot 4221; FUN Signature (Heritage, 1/2014), lot 5219.
5. Holden / Norweb Specimen - PR64: Thomas Elder; Albert Holden; Norweb Collection (Bowers and Merena, 3/1988), lot 1585.
6. Donald H. Carter Specimen - PR63 PCGS: FUN Signature (Heritage, 1/1998), lot 6781.
At the time Ron Guth wrote his comments, I am wondering if the Hansen Specimen is the sixth coin that he was not aware. The Hansen coin appears to be fresh after being in a collection for more than 50 years. This is what Ron wrote on the coin: The Proof 1849 Quarter Dollar is a very rare coin, with only five examples positively known to exist, with perhaps two to four more that may be out in the woodwork. All five of the known examples are well-preserved, starting at PR63 and going to PR66. The top two examples, both PCGS PR66, are from the Pittman and Eliasberg Collections.
The Hansen coin introduced itself to the public in a Heritage June 2015 Long Beach Expo US Coins Signature Auction in Long Beach, CA. The coin was in a PCGS PR65 holder and the description stated: prior pedigree unknown. The coin realized $28,200. The coin was upgraded to a PCGS PR65+ and made a second auction appearance in Heritage December 2019 US Coins Signature Auction in Dallas, TX. In this appearance, the coin was described as being from a numismatic holding formed in the 1950. Heritage describes the coin as: Our roster of proof 1849 Seated Liberty quarters includes six examples that grade PR63 to PR66. PCGS has graded five pieces including two in PR66 and one each in PR65+, PR65, and PR63. NGC submissions include three coins grades PR66, PR64, and PR63 (10/19). PCGS Coin Facts estimates that just three to five proofs are known. Our own roster, published when we offered the Eugene H. Gardner Collection, enumerated five distinctively different examples. Rich ocean-blue toning dominates this fully struck specimen, although the borders display narrow bands of peach and straw-gold. We know of six examples that grade PR66 to PR63. Just two are marginally finer than the present Gem proof. The coin realized $22,800 in this sale.
It is not known to me how this coin came to be in the Hansen Collection. I could not find any recent web offers. The condition census coin works well in D.L. Hansen’s Seated Liberty Proof Collection. I wish I could share a little more on how Mr. Hansen prioritizes the early (1838-1857) sets. In all the sets (Half Dime to 1885 Trade Dollar), he has approximately 30 coins remaining. Most all of them are very difficult and extremely low mintage. Let’s watch and see if he adds more.
1849 Seated Liberty Proof Quarter, PR65+ PCGS POP 1/2, Gold Shield Certification #39551087, PCGS #5543 PCGS Value Guide: $32,500 / unknown Provenance: From a numismatic holding formed in the 1950s; Long Beach Expo (Heritage, 6/2015), lot 3915; US Coins Signature (Heritage, 12/2019), lot3082.
Truely amazing article! One thing i hope it does is dispel the notion that Hansen is a billionaire who simply throws money at coins with little thought. It shows how he wasnt comfortable with the other 1854-S; the weekly discussions with John Brush about the value, the other bidders, etc; and the decision making of buying this 7 figure rarity during a pandemic and what appeared to be an economic meltdown. Wonderful article!
What is baffling to me about the story is why bid and buy a bunch of upgrades while cutting your max bid By $1.5M for the one coin you actually NEED?
Your question isn't lost on me...it's a very good one. But, it gives you some insight into the mind of Mr. Hansen. He's the consummate collector. It was an opportunity to find a lot of meaningful coins for the collection, but with the placement of the 54-S $5 occurring later in the auction, the unknown about how much it would bring could leave you empty-handed with no purchases at a highlight sale.
As for DLRC, I would have been thrilled if he had left more Barber Quarters for me...
John Brush President of David Lawrence Rare Coins www.davidlawrence.com email: John@davidlawrence.com 2022 ANA Dealer of the Year, Past Chair of NCBA (formerly ICTA), PNG Treasurer, Instructor at Witter Coin University, former Instructor/YN Chaperone ANA Summer Seminar, Coin World Most Influential, Curator of the D.L. Hansen Collection
I especially enjoyed John Brush's recollection of a great auction victory at a time when most collectors were hiding under their beds. And I am very happy for DLH for his acquisition of a very rare coin that is not often seen in the market. But with a mintage of 268 coins he will have to wait for the shoe to drop with the discovery of a hoard, or another shipwreck, that will over populate the market. I do not recall any reasons that the Mint might have been melting gold coins in 1854-1855.
But congratulations are in order for DLH and JB for a great acquisition.
Brent Pogue would roll over in his grave if he knew the price his prized 1854-S $5 ultra rarity would realize, and the whole ordeal does not bode very well for Stacks-Bowers. The pandemic was already severe enough that it scuttled the show and caused the auction venue to change three times. Even then there was uncertainty about whether the auction could legally occur at Stacks-Bowers’s office in California given it was unclear if it could qualify as an essential business. I’m still not sure how Stacks-Bowers could get around the very obvious conclusion that coin auctions are not essential. The auction should not have occurred. Even when it did, there were FOUR people present. It was grossly negligent of them to hold the sale. We now know that economic uncertainty, including the quickly crumbling and unstable equities markets, was a major factor among many of the bidders. It says a lot when a top pop ultra rarity and the only one to sticker (PCGS CAC AU58+) sells for less that an unstickered NGC XF45 that many had speculated (perhaps unfairly) could have been the stolen DuPont coin that sold a little over a year prior. According to DLRC is looks like the XF45 coin was a mediocre example at best. I sure hope Stacks discounted their commission even further and did not bill Pogue’s estate for the charter flight it used to haul two customers (half the auction attendance apparently) for an auction that should never have happened.
Laura always raves about buying every important coin to ever exist and that she only deals with the finest. I’m not sure how she could then pass up on a top pop ultra rarity at a fire sale price in an estate sale. It was the only one that has stickered to boot! I hope Laura is okay.
John has to be a saint to maintain civil discourse with Laura let alone board a private jet with her for several hours after all of the shade, animus, and vitriol directed at him/his firm and D.L. Hansen including several pages of now deleted posts from this thread.
Congratulations to Brush and Hansen! Very well played...
@OldIndianNutKase said:
I especially enjoyed John Brush's recollection of a great auction victory at a time when most collectors were hiding under their beds. And I am very happy for DLH for his acquisition of a very rare coin that is not often seen in the market. But with a mintage of 268 coins he will have to wait for the shoe to drop with the discovery of a hoard, or another shipwreck, that will over populate the market. I do not recall any reasons that the Mint might have been melting gold coins in 1854-1855.
But congratulations are in order for DLH and JB for a great acquisition.
OINK
Thank you!
There's always that risk with any great rarity I believe...even an 84 or 85 Proof Trade Dollar (though if I found a bag of either, I'd think it is suspect). But, I think after 166 years, we feel pretty comfortable that another roll (or bag) won't pop up...
John Brush President of David Lawrence Rare Coins www.davidlawrence.com email: John@davidlawrence.com 2022 ANA Dealer of the Year, Past Chair of NCBA (formerly ICTA), PNG Treasurer, Instructor at Witter Coin University, former Instructor/YN Chaperone ANA Summer Seminar, Coin World Most Influential, Curator of the D.L. Hansen Collection
After reading the article, I think In-N-Out Burger should hire Brush to do a commercial. "Hi, when I had just won a world class coin rarity at a fire sale price of under $2M, where did I go to dinner to celebrate? In-N-Out Burger!" No need to mention that most of the A-list restaurants in LA were closed down at the time.
Joking aside, I really enjoyed the article. It's definitely a rush to win a coin you desperately want for far less than anticipated.
@CoinJunkie said:
After reading the article, I think In-N-Out Burger should hire Brush to do a commercial. "Hi, when I had just won a world class coin rarity at a fire sale price of under $2M, where did I go to dinner to celebrate? In-N-Out Burger!" No need to mention that most of the A-list restaurants in LA were closed down at the time.
Joking aside, I really enjoyed the article. It's definitely a rush to win a coin you desperately want for far less than anticipated.
I'd settle for them just opening one in Virginia Beach...of course, then I'd have to fight a lot of inner turmoil on a daily basis in choosing between Chick-Fil-A and In-N-Out...
John Brush President of David Lawrence Rare Coins www.davidlawrence.com email: John@davidlawrence.com 2022 ANA Dealer of the Year, Past Chair of NCBA (formerly ICTA), PNG Treasurer, Instructor at Witter Coin University, former Instructor/YN Chaperone ANA Summer Seminar, Coin World Most Influential, Curator of the D.L. Hansen Collection
Comments
The 1870-cc quarter in XF-40 in hansen was the undergrade coin that gardner had prior to obtaining the battleborn 55 which then sold prior to his passing along with the 55.(two separate sales of 4 parts) It (the 40) then sold again thru legend auctions, i was underbidder at the time, but it was a little too pricey for me, and now knowing hansen bought it, wouldnt have gotten it anyhow. Any 70-cc quarter decent is great to own, but this coin wont cac, and is a little somewhat cleaned.
I have a pcgs 30 which is fairly nice, but still not quite as nice as the ogh 25 i had several years ago before selling all to open the coin shop I mentioned in an earlier thread. i really liked the 71-cc in 55 cac that sold back there as well, but when it came up, again bad time for me as I was fighting cancer. Im sure hansen will aquire one of the nice 70-cc in au , its just a matter of time.
@Currin do you have any thoughts on which of the TDN Early Dollars Hansen will be after?
Latin American Collection
All of them!
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Consider this as opinion only,
I would say all but the $10M coin. I don’t think the coin would fit in the collection goals at this time. In this mega-set, Mr. Hansen does not lose his mind over one coin. He may have in the past, but I don’t see that will happen again. This mostly unfortunate for coin owners of high end ultra-rarities.
As for the others coins, I feel the major concern would the source and venue. I am hoping that I am wrong. I would love to see all of them, especially the POP 1/0 specimens. They would work well with his Morelan Seated Dollar collection. Also, this could really kick start the rebuild of the early coinage. But my observations for the past 12 months does not give me a warm feeling. It would not surprise me if he set this one out. Now, with that said, this auction is still a good ways in the future and changes can happen. In the coming months, fences can be mended and new bridges built. Time will tell. (The upcoming Mo Civil War auction could be positive or negative indicator)
Note: This is my personal thoughts being asked for by Boosibri. On this matter, I have not discussed with the Hansen team and have no inside knowledge.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
While I didn't comment or vote in @Boosibri 's poll. I don't think it would bring 10 million unreserved.
It seems like Hansen has picked up alot of coins that he passed on the first time around and has picked them up later at a better price.
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It could, but will take two bidders in this type auction. When the coin sold for $10M, there was a increment bid made for about $2-3M. Is that possible in this auction? I don’t understand the auction rules well enough to know. Also, in the last auction the two bidders if I recall was Brett Pogue and Bruce Morelan. We know at least one will not be bidding, and both will not unless Bruce bids up his own coin. Again, I don’t understand the auction rules well enough to know if that is allowed in Legend Auctions. I really don’t have an opinion on my thoughts if the coin will bring $10M? It only takes someone like the Tryrant and one other to push this over the bar. It may or may not be interesting to watch.
Also, who is the new big player called THE JONNY REED COLLECTION BY EZ COLLECTIBLES. It appear the Pogue-Childs 1804 was recently sold in a private transaction. That coin is thought to be a $10M coin. Is this just another BigCoin? Or is this real and this is the player that brings Morelan set out for auction. The pool for this coin is not very big, but it doesn’t have to be. Only need two players.
Good Luck, Bruce. I hope you have it timed right and you have a great sell. I sorry to see the set broken and probably will never be matched again.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Hansen Barber Dimes – Now #2 All-Time
I have provided several updates in 2020 on the Barber Dimes. This is mostly due to the sale of the Srotag Collection in GreatCollection Auctions. I reported back on April 12th that I thought the Hansen Collection of Barber Dimes had a good shot at overtaking the #2 All-Time set by Simpson. This may not be a big accomplish in the grand scheme of things, but it is a moral victory over a collection that is portrayed as the measuring point if you desire to achieve greatness. As for Barber Dime greatness, that stills lays in the hands of the Barber Dime Godfather, Stuart Blay. This collector is not a newcomer, rather the Blay Barber registry set of dimes dates back to January 2001. Currently, Blay is in the top spot with 66.78 GPA and 67.62 with bonuses. The set is closed to public viewing, but from bonus points awarded, it appears the set has a majority (>50%) of the PCGS top pops. As I have stated before, this set is evidence that a long sustaining approach to collecting pays off.
With this new upgrade, The Hansen collection surpasses the Simpson Collection. I have been watching for this to happen. I knew that one more POP 1/0 coin would put Hansen in second place due to bonus points. Also, I knew there was a POP 1/0 on the market for several months, but Hansen passed on two earlier opportunities to buy. I had spoken to the owner on several occasions knowing the coin did not sell in public auction. I knew there was a possibility for the coin to be sold privately. In the past couple weeks that opportunity has been finalized by Hansen and the team.
With the Blay set being closed, it is hard to determine if obtaining the #1 spot is possible with available coins. If I were to guess, I would say that probably Mr. Blay has the #1 spot locked. He has 84 bonus points compared to Hansen’s 72. This is quite a bit of a lead because only adding the finest and tied for finest count toward the bonus. How many of those are left, I am not sure but I don’t think there are that many. There is still opportunity for Mr. Hansen to get his GPA up on this set. Below are the top seven coins that are easily upgradable. The 1894-O MS67 POP 3/1 is available in a GreatCollections auction on June 28th. With the coin not CAC Approved, and starting bid of $26,000 plus 12.5%, I am not sure if Mr. Hansen will bid on it. He passed on two opportunities for the 1901-S and that is a POP 1/0 coin.
1899-S 10C MS66 POP 13/18
1899-O 10C MS65+ POP 1/11
1896-S 10C MS65 POP 15/10
1904-S 10C MS65 POP 9/9
1903-O 10C MS65+ POP 1/7
1906-D 10C MS66 POP 13/7
1894-O 10C MS66 POP 7/5
1901-S Barber Dime MS67+, Ex: Srotag- Lily Nicole
The San Francisco minted dime has a small mintage. The mintage is slightly less than 600,000 with a survival estimate around 2500. In GEM condition the estimate is about 60. The PCGS POP reports 4 in MS67 with this Hansen specimen a tick better at MS67+. Also, the coin has a fresh CAC Approved sticker. Here is what Ron Guth wrote about the 1901-S dime and included a comment on the new Hansen coin specifically: The 1901-S Dime is one of the more exciting dates in the series because it has the smallest mintage of any Dime between 1896 and 1913. As such, it is in high demand in vortually every grade. However, the premium for this date begins to fade in Mint State because there are quite a few examples to satisfy collector demand. In fact, there are other dates that are less "famous", which have smaller MS populations, and lower prices. What all this means is that a Mint State 1901-S Dime offers excellent value and still comes with a great, small-mintage story. This date comes very well-struck. Luster ranges from brilliant to frosty and this date often comes with nice eye appeal. The best example seen to date is a PCGS MS67+ (formerly of the Lily Nicole Collection).
During the time (March-April) that Mr. Hansen purchased several coins from the Srotag Collection offered in GreatCollections Auctions, this coin was passed on at least two occasions. In talking with David Wollinka (owner of the Srotag Collection), he felt that Mr. Hansen passed on the opportunities because he had set the starting bid to high at $30,000. After receiving the coin back from GCA, Mr. Wollinka reached out to the Hansen team and negotiated a private sale. The coin has a nice provenance to the Lilly Nicole Collection. The coin appeared in Heritage’s April 2015 CSNS US Coins Signature Auction in Chicago. The coin was described as: The 1901-S claims one of the lowest mintages in the Barber dime series (a little over 593,000 pieces), and is one of the rarest issues in Mint State. In fact, only 86 Uncirculated examples have been graded by PCGS and NGC, mainly through near-Gem. A mere six pieces are MS67 or finer. The coin realized $25,850 which remains an auction record.
It appear to me this coin was auctioned twice as NGC MS68. This is my opinion after looking an auction images, and has not been verified by an expert. If this true and can be proven, then the coin is from The Joseph C. Thomas Collection and appeared in Heritage’s April 2009 April (CSNS) US Coin Auction in Cincinnati, OH. The coin realized $18,400. In addition, the coin’s first traceable appearance is the Heritage’s 2005 (FUN) Signature Sale in Ft. Lauderdale FL. The coin was from John C. Hugon Collection and realized $23,000. Maybe someone can verify this information.
Is this the last PCGS POP 1/0 specimen that Mr. Hansen will be able to acquire for this set? Without knowing what is available, that is hard to say for sure. Time will tell, but at this point, the acquisition of the 1901-S MS67+ Srotag - Lily Nicole Specimen was enough to push Mr. Hansen ahead of Simpson in the ranking for #2 Finest All-Time Barber Dimes.
1901-S 10C MS67+ Barber Dime, CAC Approved
Tied for Finest Certified at PCGS, POP 1/0
Certification #19344882, PCGS #4826
PCCS Value Guide: $26,000 / Unknown Negotiated Sale
Provenance: Hansen-Srotag- Lily Nicole (possibly Thomas- Hugon)
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Half Eagle Update 4
As been previously reported, there appear to be a rash of Liberty Half Eagle upgrades in 2020. This coin makes the 24th since January. This coin is a little more special because it succeeds the six figure threshold. As you know, one of the 24 coins was a seven figure addition a couple months ago. I wonder if the activity we have seen is strictly due to opportunities, or are the Liberty Half Eagles a focus for Mr. Hansen. We may never know for sure, but we can enjoy all the cool upgrades and the opportunity to view these amazing little gold pieces. I have stated before that I believe Hansen’s Liberty Half Eagle collection is on par in condition as The Harry W. Bass and equal the completeness to Louis Eliasberg. This is an amazing achievement that appears to be getting better almost every week. The 24th upgrade this year, according to my math, that is almost one per week.
In an update a couple weeks ago, I went over stats for the 201 piece basic set. Please review if you missed it. This coin also improves the 220 coin major varieties set. So, instead of discussion the set this week, let’s look at the 1842-C Liberty Half Eagle “Small Date” variety. I can only speak for myself, but I was unaware of the rarity of this coin, especially in higher grade. The Hansen set was giving me a clue, but this is one of those things you overlook in this mega-collection. Hansen already had a nice specimen that maybe would qualify as a condition census coin. His coin was one of the seven PCGS certified AU58 specimens. The coin has PCGS POP 7/2 valued at $50,000. The new coin is one of only two mint state PCGS certified 1842-C Liberty Half Eagle “Small Date” specimens. The other PCGS specimen is a MS62 that sold by Goldbergs Auctions in 2010 for $92,000. There is one NGC MS63 from the Elrod Collection that sold for the auction record in 2012 for $166,750. The fourth and probably last is the MS60 estimated grade coin in National Numismatic Collection at the Smithsonian Institution. Then you get into the seven AU58 specimens.
David Akers contributed this comment on the coin: Without question, the 1842-C Small date Half Eagle is the rarest Half Eagle from the Charlotte Mint. Indeed, with the exception of the 1849-C Open Wreath Gold Dollar it is the rarest Charlotte Mint gold coin of any denomination. It is far more rare than the 1855-C Gold Dollar, the 1843-C Small Date Quarter Eagle, or the 1861-C Half Eagle, its only real competitors. I have seen relatively few specimens, none of which were better than EF. Some specimens I have seen had a prominent die break in the obverse rim at 12 o'clock. This was wrote sometime in the 1975/88 time period, and grading standards have changed. As stated, today there are two PCGS MS graded coins and one NGC. PCGS gives the survival estimate at 110 in all grades and conditions. The MS estimate is three, so maybe the National Numismatic Collection specimen is not counted. PCGS has certified 50 in POP Report.
1842-C “Small Date” Half Eagle PCGS MS63+
Expert Doug Winter offered this information: Two half eagle varieties were produced at the Charlotte Mint in 1842. It is likely the small Date coins were struck first, as they show the same date size as seen on the Charlotte half eagles dated 1841. The 1842-C Small Date is the rarest half eagle from this mint and the rarest collectible coin from Charlotte. It is usually found in grades below Extremely Fine and properly graded EF40 and EF45 pieces are rare. This date is very rare in properly graded AU50 and extremely rare in AU55 to AU58. I have seen only one example that I felt was truly Uncirculated, but there are at least two or three others that have been graded Mint State. The new Hansen coin has the highest grade of any of the specimens from any of the TPG services. Where did Mr. Hansen purchase this coin?
As with some other coins that we have seen lately, the story on this coin is the appearances in the past few months. The coin appeared in a January 2020 Heritage Auction, and we saw that Mr. Hansen did not take the opportunity to buy the coin at that time. So, let’s explore the chronological sequence that I have on this coin.
Pre-2020 Heritages Auctions Appearances
The coin made a first appearance in the Heritage’s 2009 FUN Auction in Orlando, Fl. In this auction, the coin was listed as MS62 PCGS, CAC Approved. The header described the coin as: Gorgeous 1842-C Small Date Half Eagle, MS62, Prized Early Die State. In this first sale, the coin was compared to the Elrod specimen by this description: Like an Olympic athlete chasing gold, the collector who was outbid on the opportunity to own the Elrod specimen of the 1842-C Small Date half eagle, sold by Heritage at the 2005 FUN auction, has had to wait four years for a similar opportunity to come again. This lot, while not the Elrod coin (note the absence of the small abrasion below the chin, visible in the Heritage photography as well as the images in Akers and Winter, for which it served as the plate coin), displays considerable visual and technical appeal, making it a worthy rival to the Elrod example. With the offering of this MS62 1842-C Small Date half eagle, Heritage has had the privilege of handling both pieces at that level certified by PCGS (11/08), with none finer at that service. The coin realized $126,500 in this sale. Just an added note on the Elrod Specimen; the coin has sold in Heritage Auctions three times since 2005 with these results: Heritage 1/2005:30451, $150,001.40 - subsequently graded NGC MS63 - Heritage 1/2012:4879, $166,750 - Heritage 1/2015:4294, $111,625. The Elrod coin lost a lot of value in just three years.
The coin made a second appearance in the Heritage’s 2012 Signature Auction in Philadelphia when auctioneer described as Rarest C-Mint Half Eagle, Tied for Finest Certified. This auction the coin appears as a MS63+, but lost the CAC Approval. The auction stated the coin was tied as finest known with the Elrod coin. The auction description: This lot displays considerable visual and technical appeal, and it is tied as finest known with the Elrod coin. As a Die State I (or Perfect Dies) piece, it has sharper detail than the majority Die State II pieces, with excellent definition on the central hair and without even a trace of the typical striking softness below the lower part of the coronet. The surfaces are minimally abraded, though a handful of the usual wispy marks are present in the yellow-gold to orange-gold fields, and the luster is frosty and delightful with a hint of reflectivity. The eye appeal is, in a word, gorgeous. The dedicated Southern gold specialist will not want to miss this opportunity. As Winter writes in his summation for the issue, "The 1842-C Small Date is the rarest half eagle from this mint and it is the rarest collectible coin from Charlotte." The Charlotte Mint's best date in the best state -- what collector could ask for more? The coin realized $ $141,000 in this sale.
2020 January 8 - 12 FUN US Coins Signature Auction - Orlando #1311
The coin was off the market for maybe eight years before it appeared in Heritage’s January FUN Auction. The coin Provenance was attributed to The HFW² Collection. The sale offered some very nice gold selections from this collector. The auction description was also identical to the 2012 sale. At this auction, the coin realized only $102,000. This may have been a golden opportunity for Mr. Hansen to purchase a nice coin at bargain price.
Park Avenue Numismatics / National Coin Wholesalers Website
The coin first showed up on PAN website about May 15th. The coin was still listed available for sale as just a few days ago. The coin was described only as: 1842-C Small Date PCGS Secure PCGS Plus. The asked price was $129,600. In the June 5th timeframe, the coin appeared for sale on the NCW website, located in Hallandale Beach, FL. The asked price was $130,015. I do not know the results from this either of listings. If I were to make an assumption, I would think the coin was sold by PAN at a negotiated price. The only difference in the coin from the Heritage January Sale was the holder. The coin has a new certification number and is now in a secure slab with “Protected by Gold Shield NFC technology”.
The coin showed up in Mr. Hansen collection few days ago. It appears that someone purchased this coin from Heritage at a very good price. Then marketed the coin on a couple websites and I would think they made a pretty good little return. End result, Mr. Hansen got his 24th Liberty Half Eagle upgrade in 2020.
1842-C Small Date Half Eagle PCGSS MS63+
PCGS POP 1/0 for rare variety
Certification #39480770, PCGS #8208
PCGS Value Guide: $160,000 / Ask $129,600
Provenance: The HFW² Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Proof Half Dollar Upgrade
We have not seen a lot of activity in 2020 with Hansen Proofs. I am not sure I can explain, except it appears his focus is elsewhere. This is one of the sporadic upgrades for a rare proof Liberty Half Dollar. There are 17 coins required in the Liberty Seated Half Dollars Basic Set, Proof (1839-1857) set. The seventeen coins are far from being easy. PCGS writes: Do you have a million dollars and the patience of Job? If so, you’ll love putting this set together! Actually, you’ll love getting started even if completion isn’t in your plans at this time. The 1839 No Drapery is an extremely important one-year type coin and the same is true for the 1853 Arrows & Rays. There’s one 1840 in Proof 65 (from the Norweb collection) and a couple of other dates in Gem quality, but, basically, any grade is a winner among these rarities. Any grade is not a winner for Mr. Hansen. With this upgrade he moves his Hansen / Eliasberg pedigree PCGS MS64 POP 2/1 condition census specimen to his number two set.
The mintage that is normally referenced for the 1842 Liberty Half Dollar “Small Date” (Proof) is 10. PCGS gives survival estimate at six in all grades. The guide references only one PR65. That coin is the Pittman / Gardner specimen that is presently certified PR66 by NGC. This coin realized the auction record of $77,000 in the sale of the John Jay Pittman Collection by David Akers in 1998. The new Hansen specimen is considered second in the condition census ranking. The Hansen Specimen sold in three Heritage Auctions as a NGC PR65 in 2003, 2006, 2013. In the 2013 Auction, the coin was described as: The obverse is toned in attractive champagne-golden shadings while the reverse is much deeper with mottled blue and gray coloration over that side. A tiny identifying nick is seen in the fields near the drapery; otherwise, the surfaces are exceptionally clean and problem-free. According to Walter Breen, only four proofs exist. However, we have investigated this date and have come to the conclusion that there are seven unquestioned proofs.
I used a roster from the 2020 Heritage Sale for the bases for the seven known 1842 Liberty Half Dollar “Small Date” coins. I love posting a coin when the entire known roster can be listed and the list is less than ten. This is one of those occasions. Out of the seven known specimens, Mr. Hansen has two in his collection. Both are amazing specimens that would work well any set.
1 – Pittman / Gardner Specimen : (PCGS PR65 estimated grade) PR66 NGC. R. Green; John Jay Pittman (David Akers, 5/1998), lot 1524; Philip Kaufman Collection (Heritage, 4/2008), lot 2381; Eugene H. Gardner Collection, Part I (Heritage, 6/2014), lot 30527; FUN Signature (Heritage, 1/2015), lot 4142.
2 – Hansen / Norweb Specimen: PR64+ PCGS CAC, Cert # 25654251, Purchased by Albert Fairchild Holden circa 1908; Norweb III (Bowers and Merena, 11/1988), lot 3131, where it realized $14,300; Rarities Sale (Bowers and Merena, 8/1999), lot 201; Central States Signature (Heritage, 5/2003), lot 6776, realized $43,700; FUN Signature (Heritage, 1/2006), lot 3197, where it brought $43,125; The Greensboro Collection (Heritage, 1/2013), lot 5656; The HFW² Collection (Heritage 1/2020), Lot #4210, realized $38,400; The D.L. Hansen Collection.
3 – Hansen / Eliasberg Specimen: PR64 PCGS. Cert # 31436805, Eliasberg Collection (Bowers and Merena, 4/1997), lot 1922; Chicago Signature (Heritage, 8/2011), lot 7173; The D.L. Hansen Collection.
3 - Boyd / Richmond Specimen: PR64 PCGS. F.C.C. Boyd; Worlds Greatest Collection (Numismatic Gallery, 4/1945), lot 255; 1946 ANA (Numismatic Gallery, 8/1946), lot 816; Berbert-Roe Collections (Stack's, 3/1965), lot 443; Richmond Collection (David Lawrence, 3/2005), lot 1787; FUN Signature (Heritage, 1/2012), lot 3246; ANA Auction (Kagin's, 3/2018), lot 1244.
5 – Schilke / Kagin Specimen: PR64 NGC. Oscar Schilke proof set; Paul Kagin; Central States Signature (Heritage, 4/2012), lot 5002.
6 - ANA Specimen: Proof. American Numismatic Society.
7 - National Collection Specimen: Proof. Smithsonian Institution.
1842 Liberty Half Dollar “Small Date” PR64+, CAC Approved
This coin is a proof rarity. In a recent Heritage listing, the coin is described as: Like proof quarters of the same date, proof 1842 halves were struck from Small Date dies. A Large Date variant was reportedly offered in the Brand-Lichtenfels Sale, but that coin remains unverified. Unlike the Small Date quarters, half dollars are also known (rarely) as business strikes -- struck from the small date logotype, but from a different die, with the date in a slightly different position. All proofs show repunching of the date south, especially at the 2, which is boldly repunched. Proof 1842 halves are rare, as one can see from the roster above, and this offering presents an important opportunity for the specialist to acquire one of only five pieces known outside of institutional holdings. The PCGS POP for PR64 is three with one (the Hansen / Norweb Specimen) graded PR64+. There is only one that is CAC approved, and that would be the new Hansen specimen.
The coin has great pedigree that dates back to the purchased by Albert Fairchild Holden circa 1908. According to mineralman.com website, Mr. Holden graduated from Harvard with a degree in Mining Engineering in 1888. After describing his mining successes, the website continues: In addition to being an enthusuastic mineral collector and a botanist, Holden was also a serious coin collector. He obtained the personal 1907 Ultra High Relief double eagle ($20 gold piece) owned by renowned artist Augustus Saint-Gaudens (it would later be the world's first gold coin to sell for more than $1 million) in 1907, directly from the family of sculptor Saint-Gaudens, who had designed the coin. Holden's daughter, Emery May, inherited it, and it became a centerpiece of the legendary coin collection she and her husband, U.S. Ambassador R. Henry Norweb, assembled over the decades.
The coin sold in Heritage’s 2020 FUN US Coins Signature Auction in Orlando. The coin was headlined as Second-Finest Known, Ex: Norweb. It realized $38,400. The coin recently offered on Rare Coin Wholesalers Website. The coin had an ask price of $59,500. This offer was just a couple weeks ago, so we assume the coin was purchased from RCW. We have seen on several updates recently that coins that were purchase at low bids in auctions have made their way into the D. L. Hansen Collection. This coin is one of them.
D.L. Hansen / Norweb #1 Specimen
1842 Liberty Half Dollar “Small Date” PR64+
PCGS POP 1/0, CAC Approved
Certification #25654251, PCGS #6386
PCGS Value Guide: $51,000 / Ask $59,500
Provenance: Albert Fairchild Holden circa 1908; Norweb III (Bowers and Merena, 11/1988), lot 3131, where it realized $14,300; Rarities Sale (Bowers and Merena, 8/1999), lot 201; Central States Signature (Heritage, 5/2003), lot 6776, realized $43,700; FUN Signature (Heritage, 1/2006), lot 3197, where it brought $43,125; The Greensboro Collection (Heritage, 1/2013), lot 5656; The HFW² Collection (Heritage 1/2020), Lot #4210, realized $38,400; The D.L. Hansen Collection.
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D.L. Hansen / Eliasberg #2 Specimen
1842 Liberty Half Dollar “Small Date” PR64
PCGS POP 2/1
Certification #31436805, PCGS #6386
PCGS Value Guide: $45,000 / unknown
Provenance: Eliasberg Collection (Bowers and Merena, 4/1997), lot 1922; Chicago Signature (Heritage, 8/2011), lot 7173; The D.L. Hansen Collection.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Currin- You have the correct information regarding the provenance of the 1901 s Barber Dime. It was from the Hugon collection .Earlier from a Heritage auction.
You also need to give a lot of credit to Laura Sperber who put together the Law Collection and then sold it to Simpson and improved the Simpson Collection before she auctioned it. She also put together the finest collection of proof Barber
dimes including the 94s .
I would also like to do a Barber Dime exhibit of the Hansen collection and my set at either FUN
or an ANA
.
.
I agree, Sperber needs credit for putting together the Law/Simpson sets, but they are now in the history books. They had a good run for about 10 years, but you was the top dog before them and here after. Staying in ring is the only way to hear the final bell.
It would be interesting to know how many of the Law/Simpson coins are in your and Hansen sets. Do you know how many of your coins are Hugon, Thomas, Lily Nicole, Simpson, Law, Ductor, Eliasberg, etc.? Some people say pedigree don’t mean anything to them. Are you one of them guys?
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
@Currin
Do you know if Mr. Hansen has expressed any interest in colonial era coins?
Currin - there are 6 coins in my set from the Law/Simpson collection.
My set was started in 1996 when I bought about a half dozen Barber dimes out of Eliasberg. Pedigree does mean something as long as the coin is not altered/dipped etc. Many of my best coins are pedigreed. Some pedigrees mean nothing as you well know. But Eliasberg, Norweb
Mean a lot IMO
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I will answer your question this way. Mr. Hansen focus (or you could say primary interest) is in the US circulation strike set. This is the Hall of Fame set.
https://www.pcgs.com/setregistry/complete-sets/master-sets/u-s-coins-complete-basic-set-circulation-strikes-1792-present/alltimeset/159714
There are only two coins remaining, they are both half eagles,1798 $5 Small Eagle and 1822. The main activity that I see is upgrading several hundred of these coins annually. The byproduct is the creation of #2, #3 sets and many duplicates. He has a nice start on major varieties and proofs, but I don’t see a lot of recent activity. He has a few patterns, colonial, and even world coins. I think he obtain most of them in purchases of large collections and groups. When branching out into these areas, how do you focus on so many specimens that are hard to obtain.
I always thought it would be great if PCGS pull a couple expert teams together and create Top 100 coin sets for patterns and colonials. Mr. Hansen does have interest in PCGS sets like this. If this was done, then in my opinion the #1 coin for the colonial set would be the Brasher Doubloon. What would be the other 99? Not sure.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
There is a "top 43" for colonials:
https://www.pcgs.com/setregistry/complete-sets-1616-1820/complete-sets-1616-1820/early-american-coins-tokens-basic-design-set-1616-1820/composition/1457
@Currin
Thanks!
Three Cent Copper Nickel Upgrade
I can hear what you are saying, Three Cent Copper Nickel Upgrade, really? Yes, for real. I have not talked about this obsolete series very often. Why? Three Cent Copper Nickels are not a limelight series. They do have a rather nice little following of about 35 active sets with about half of them more than 50% completed. PCGS even describes these coins as “overlooked”. This is what is said about the 22 piece set: The three cent nickel is a popular 19th century set, but most sets are put together in proof, with the circulation strikes being somewhat overlooked. This set is a great challenge, as there are numerous problems with poor strikes, subdued luster, heavily clashed dies and other negative characteristics. A complete set of gem quality is a challenge, indeed! An interesting point to this set, there are 12 coins in the 22 coin set that are PCGS Pop 1/0 specimens. More than 50% of the required coins are unique in grade. Is that usual? Let’s just say that is not common.
This leads to the second point why this set is not readily discussed in a forum dedicated to the D.L. Hansen Collection. This is an impossible set for Mr. Hansen to be able advance to first place. Presently, he is in 5th place in the all-time list. The history is a little fuzzy, but it appears the 4th place Lyons Set was pre-registry and retired around 2000-2001. The 3rd place set, Bruce Scher/Legend, was created circa 2002 and retired in 2005. This set received the Hall of Fame honors even though all four of the POP 1/0 specimens were from the Lyons Set. Humm. Next came the Law set in 2006. In the comments field it is stated that 21 of the coins were from the Scher set with only one purchase from Legend. The set retired in 2008, also being awarded PCGS Hall of Fame. Humm. The Top Pop specimens went dark and was off the grid for about six years before reappearing in 2015 in the present top set. The present collector in number one spot is tompet38 and he have all the POP 1/0 specimens from the previous top sets, plus few additions. Now, the top set has eight of the 12 PCGS POP 1/0 specimens. Why has this set not been awarded the Hall of Fame? Humm. With the current rules and the bonus points given, this set is locked in first place, with or without the HOF.
Clearly, Mr. Hansen has no shot in advancing to the top in this set, but he did add a nice new upgrade. This upgrade now gives him two POP 1/0 Specimens (the top set has 8 out of 12). Hansen’s first POP 1/0 specimen is the 1873 Closed 3 in MS67. This is the finest 1873 in both the open and close variety. He has 5 coins tied for finest PCGS certified. One of the other two remaining PCGS POP 1/0 specimens is the 1866 MS67+. This coin is currently featured in one or more PCGS sets, so I would assume that coin is in one of the high end Type Sets, maybe High Desert. The last available Pop 1/0 specimen is the 1884 MS67+. There are no clues on the whereabouts of this coin. Could be a potential for a future Hansen upgrade? The present Hansen 1884 is the lowest graded coin in the set. He could used a upgrade, and what would be better than the POP 1/0 specimen.
1883 Three Cent Copper Nickel MS67+
The main thing that caught my attention on the coin was the mid-five figure asking price. It appears to be within reason, because the five MS67 specimens are valued at $25,000. The mintage was lower on this coin, but does that really matter? Here is what our expert Ron Guth had to say: In 1883, the mintage of the Three-Cent Nickel dropped precipitously to a mere 4,000 pieces. This was the first time in the history of the denomination that the mintage of the circulation strikes was lower than that of the Proofs, a situation that would continue through 1886, after which the mintages returned to their normal relationship. As might be expected, this date is hard to find in any grade, and it is actually easier, and less expensive, to locate a Proof than it is to find a circulated example. Most of the circulated examples have a small die crack at the top of the reverse, connecting the border and the left tip of the wreath, and another at 3:00. This may be a diagnostic for the Mint State versions, but we've seen some certified Proofs with these same cracks. It could be that at least one pair of dies was used to strike Proofs, then followed by some circulation strikes. If that is the case, there will be some coins of questionable intent, including those that are poorly made Proofs and/or Prooflike early strikes.
This coin has not appeared in auction according to PCGS auction report. I tried to see if I could match an image with previous auctions without any success. The toning of Hansen coin is much more appealing than auction images that I saw. If anyone can make a discovery on the provenance, please let me know.
This coin was marketed by Pinnacle Rarities. The description given on the coin: In 1883, the mintage of the Three-Cent Nickel dropped precipitously to a mere 4,000 pieces. This was the first time in the history of the denomination that the mintage of the circulation strikes was lower than that of the Proofs, a situation that would continue through 1886, after which the mintages returned to their normal relationship. As might be expected, this date is hard to find in any grade, particularly gem and higher. The present example is the single finest graded example at PCGS. In an eBay listing, the ask price was $48,760. On the Pinnacle Rarities website, the coin was offered for $46,000. I doubt we will know what the price Hansen paid for the coin, but this is an amazing coin for a Three Cent Copper Nickel. Do you agree?
1883 Three Cent Copper Nickel, MS67+
PCGS POP 1/0, Gold Shield
Certification #35750015, PCGS #3751
PCGS Value Guide: Unknown / Ask $46,000
Provenance: Unknown
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Hi Currin,
Stewart already confirmed the pedigree on the 1901-S Dime, but here's a more comprehensive provenance:
Heritage 5/2001:8031 (as PCGS MS67 02808326), $9,660.00 - John C. Hugon Collection - Heritage 1/2005:4029 (as NGC MS68 1802903006), $23,000.00 - Heritage 4/2009:2270 (as NGC MS68 1802903006), $18,400.00 - Lily Nicole Collection - Heritage 4/2015:4997 (as PCGS MS67+ CAC 19344882), $25,850.00 - Srotag Collection (PCGS Set Registry), sold privately (as PCGS MS67+ CAC 19344882) - D.L. Hansen Collection (as PCGS MS67+ CAC 19344882)
Ron Guth, Chief Investigator
The Numismatic Detective Agency
Hi Currin,
The 1883 Three Cents has appeared at auction, but it did not sell:
Stack's/Bowers 8/2019:5127 (as PCGS MS67+ 35750015), not sold - D.L. Hansen Collection (as PCGS MS67+ 35750015)
Ron Guth, Chief Investigator
The Numismatic Detective Agency
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Thanks Ron, great detective work.
A couple of take-a-ways from this new information. It is interesting the coin passed with a reserve of $35,000. Is the demanded higher now than 12 months ago? Has Mr. Hansen changed his focus?
I doubt he was focusing on this coin in the SBG Sale August 2019. If your recall, the night this coin was passed, Mr. Hansen successfully made the winning bid for the 1894-S Dime, realizing $1,320,000. He also purchased the 1964 SMS Kennedy Half Dollar for $156,000. I can see how he was not focused on the 1883 Three Cent Copper Nickel. If that was not enough, then the Anthony Tarkaszka Collection was the previous night.
The Stacks Bowers Auction describes the coin as: Offered is a truly remarkable Superb Gem Mint State example of a circulation strike three-cent nickel that is highly elusive even in worn condition. Otherwise satiny in texture, the surfaces do reveal extremely subtle semi-reflective tendencies in the fields. Lightly toned in iridescent gold and rose with a razor sharp strike. The pedigree is still a mystery. The only provenance in the sale description that was given: The PCGS CoinFacts Plate Coin. What the heck does that mean in significance?
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Being a PCGS plate coin basically means that someone has it displayed in their registry if I recall the stipulation on images being shown.
The lost images from CoinFacts is so regrettable.
Latin American Collection
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Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Three Cent Copper Nickel Proof Upgrade
This is another example of a tale of two cities. Over the weekend, I discussed Three Cent Copper Nickels Circulating Strike set. I described in detail how it is an impossible set for Mr. Hansen to be able advance to the top spot. For the proof set, the story is completely different. The Three Cent Nickels Basic, Proof (1865-1889) set requires 25 coins. PCGS describes the set as: Proof three cent nickels seem to enjoy a greater popularity than their mint state counterparts. This series is slightly longer than the business strike one, and, despite significantly lower mintages, there are far more high-quality proofs on the market than business strikes. The earliest dates of the series are the rarest, with the 1865 being significantly more expensive than the other issues.
Currently, the two top collections (Hansen & tompet38) have created a separation from the remainder in the pact. There are 15 current collectors participating in the registry. Six of them are 100% completed. The tompet38 Collection of Three Cent Copper Nickel Proof set was created 6/1/2015. If I may add, just in time to get the 2014 top set award. Before a few days ago, the tompet38 set has been in first place continuously since 2014. On 6/15, the Hansen Collection moved into first place with this upgrade. Can the Hansen Collection remain in first place to the deadline? Time will tell.
1882 Three Cent Copper Nickel PR68+
This is the finest Three Cent Copper Nickel Proof graded by PCGS, PR68+CAM. In other words, this is a #1 type coin. There two other PR68+ non-CAM specimens and the highest DCAM Three Cent Copper Nickel specimens are six PR67+DAM. As for 1882 Specimens, there is one other specimen graded PR68+ Non-CAM. There are seven 1882 PCGS graded PR68CAM specimens. The latest public auction appearance for PR68CAM coin was in a Heritage sale in April 2020. That coin realized $3,600 with a PCGS value of $7,200.
The Hansen PR68+CAM coin has not appeared in auction according to PCGS auction report. I tried to see if I could match an image with previous auctions without any success. High grade proofs appear more difficult to compare images than mint state coins. The story to tell is this is the finest PCGS grade proof Three Cent Copper Nickel. Also, the purchase of this coin placed the D.L Hansen Collection Three Cent Copper Nickel Proofs first placed in the registry.
This coin was marketed by Northern Nevada Coins. A brief basic description was given for the coin: 1882 Three Cent Nickel PCGS PR-68+ CAM designed by James Barton Longacre. On the NNC website, the coin was offered for $16,125. This seems reasonable if the PR68CAM is valued at $7,200. If the coin is only valued as last auction, $3,600, then I would question this ask price. It would be interesting to know what the coin actually sold for, but I doubt we will ever know.
1882 Three cent Copper Nickel, PR68+CAM
PCGS POP 1/0, Gold Shield
Certification #38676801, PCGS #83778
PCGS Value Guide: Unknown / Ask $16,125
Provenance: Unknown
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Hi Currin,
The provenance on the PCGS PR68+CAM 1882 3CN is:
Legend Rare Coin Auctions 3/2020:190 (as PCGS PR68+CAM 38676801), not sold - D.L. Hansen Collection (as PCGS PR68+CAM 38676801)
Ron Guth, Chief Investigator
The Numismatic Detective Agency
I am trying to determine the meaning of this. In my internet lookup, these are some possibilities. I am still not sure of the meaning in this particular posting. If I have to go with one, I would choose 5.
1
It's entirely a matter of opinion and context. I often send just a single space as a quirky alternative to a question mark (if I'm waiting for someone to text me, and I just want to "nudge" them into getting on with it).
2
In some contexts sending a single period (or something of that ilk) is used to "keep the line open" and indicate that the person is still there on the other end (perhaps awaiting something from your end).
3
On MetaFilter a dot indicates a moment of silence: faq.metafilter.com/#4 This usage has since leaked into other areas, especially the corners of the blogosphere and Twitter that intersect with MeFi's user base. I don't think it (or opportunities for its use) are common enough to be the true answer to the question, though.
4
Among my North American 20-something years old peers, a single dot is usually used to indicate "I read your message, but have nothing to say in reply".
5
Fwiw, I'm a native English speaker, and I would have no clue what this meant. I'd probably assume it was a mistake, and would ask if the person meant to type something but didn't.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
A post with just a period ( . ) may mean that a person wrote something more extensive,
but then changed their mind and wanted to delete it.
However, the forum software complains if you try to edit a post to make it "empty".
So leaving a period there will remove almost all of it.
Half Eagle Update 5
I am not a visitor to the major shows. I am closing fast into retirement, and attending these shows may be an enjoyable retirement activity. Working at the shows would be like icing on a cake. I mention this to say, at some point I would love to see Mr. Hansen showcase selections from his great collection at these major shows. I think an enjoyable number for display (and not over whelm) is somewhere between 200 – 300 coins. This 201 piece basic set of Liberty Half Eagles would make a great display. I think the major varieties could be fantastic addition to make the display 220 coins. I would travel to my first major show to see this set on display with the 1854-S.
It appears the Liberty Half Eagle upgrades just keep coming without checking up. This coin makes the 25th upgrade since January. It is another PCGS Pop 1/0 specimen for a coin that could be called a common date for the mint. Also, this coin has been floating around on the web and offered in a couple auctions over the past few months. Are we seeing these coins showing up in the Hansen Collection because current conditions are favorable for Hansen buying into this set? I know I had discussed and talked about Liberty Half Eagles to a point that you may be sick of hearing about them. I go where that collection takes me, and Liberty Half Eagles have been where a lot of action is. So we will go there again today. If treads continue, maybe again next week!
As we have seen with several of the recent Liberty Half Eagle upgrades, the coin being replaced is not a looser. In this case, the specimen being kicked down to the second string is an 1886-S MS65 Certification #84018519, POP 26/1. There are 26 specimens certified MS65, and none are certified as MS65+. The new Hansen specimen is a full point better that the pack of second best coins. Only expect comment given on this coin is from David Akers. The 1886-S is a very common date in any condition including choice uncirculated.
1886-S Half Eagle PCGS MS66
The 26 coins in MS65 grouping are PCGS valued at $2500. The most recent sale was a non-CAC in Legend’s Regency Auction 32, May 2019. The auctioneer estimated the coin to bring $2,000 - $2,400. In the 2019 description, the coin listed in the PCGS Price Guide at $3,850. The coin realized only $1410. As you can see, the value of this coin has taken a big hit in the past year. The value for the MS66 takes a big jump to $13,500 according to PCGS Price Guide (I am not sure how this price was determined, a MS66 specimen never actually sold for this amount).
The coin has sold twice in recent Heritage Auctions. I would assume in first sale the coin was purchased by an investor or dealer, and not a collector. The first auction, December 2019, the coin realized $10,800. The second auction, June 7th, 2020, the coin sold for less than $10K, realizing $9,900. The coin was described in auction as “Sole-Finest at PCGS”. There is one competitor for the top spot being a coin described as “Spectacular NGC MS66 with Star” that appeared in a 2008 Heritage Auction. The Hansen PCGS MS66 holds the auction record of $10,800 from December 2019 sale. The auctioneer described the coin as: With a large mintage of more than 3.2 million pieces, the 1886-S is readily available in most grades including the lower Mint State ranks. Gem or finer examples are rare, seen less often than surrounding San Francisco dates despite their lower mintages. Premium Gem examples are virtually unknown, with just one example at PCGS and another sole example at NGC. None are finer at either service. This is the solitary PCGS coin certified MS66. Richly frosted, straw-gold surfaces display attractive rose-gold undertones, while cartwheel mint luster radiates from each side. A sharp strike exists throughout. A few light marks flank the eagle, yet the obverse is virtually unmarked and eye appeal is spectacular.”
Between these sales, the coin was offered on Park Avenue Numismatics website. This was early May, prior to the most recent Heritage Sale. The ask price on the coin was $13,570. It appears that Mr. Hansen patiently waited on the coin to go back to auction. I do not know for a fact, but it would not surprise me if Mr. Hansen was the under bidder in the first Heritage Sale. I know for a fact, he is the under bidder on a lot of coins. It appears he may have won the coin in the second auction for around the amount he was willing to pay in the first auction. Whoever it was that out bided him and tried to flip the coin for a profit lost on this one. Note, I am not implying that was Park Avenue Numismatics, I am just saying they were marketing the coin and that could have been for someone else.
Final thoughts. I could not determine the provenance or pedigree for this POP 1/0 Coin. According to my account, there are at least 44 more POP 1/0 Liberty Half Eagles somewhere out there. Some of them could be in your hands as you read this posting. I am confident this will not be the last top pop upgrade in this set. How many more are there that Mr. Hansen has tried to buy or made offers, but the price was a little off? In this case, the auction record price at $10,800 was too much, but Mr. Hansen later acquired the coin for $9,900. Nine hundred dollars was a make or break point on this $10,000 coin. Interesting to set back and watch. I hope you enjoy it as I do.
1888-S Liberty Half Eagle PCGSS MS66
PCGS POP 1/0, Gold Shield
Certification #38143411, PCGS #8370
PCGS Value Guide: $13,500 / Realized $9,900
Provenance: Unknown
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
So Hansen pays $2M for the 54-S $5 and he held out on a pop 1 86-S $5 for $800. This doesn’t make a lot of sense to me unless I’m missing something.
Since there are hundreds of potential upgrades, the principle is to buy them if the price is "reasonable".
It is a somewhat fuzzy concept, but he has time and patience, so it seems to work pretty well.
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Well, this is not easy to answer in 25 words or less. Although @yosclimber did a pretty good job with about 35 words. In the past 12 months, I do not think the Hansen philosophy to his purchasing has change, but the application has evolved considerably. His philosophy has been provided by John Brush on several occasions, I will provide again as a review. It goes something like this:
If a coin becomes available that will improve the set (he means the HOF set), and is being offered at a fair price, then we are interested in buying.
When referring to the upgrades, I have recently heard JB used the term that an upgrade is insignificant to the collection. What this means, no one coin (like the pop 1 86-S $5) has any real significance, alone. This is especially true if the coin being replaced is tied for second finest known. I don’t think JB and Mr. Hansen are having daily discussions on should they spend an additional $800 to buy any particular upgrade. With John Brush’s experience, he knows the market value and when the bidding exceeds that predetermine fair market value, the bidding ends for the Hansen team. Another way to put it, this bid is just a buying process as any experience dealer would handle a similar situation. This has not always been the case on some early bidding.
June 27th 2019
This is a monumental date for the Hansen Collection. History tells us that June 7th, 1944 was the day that changed the course of World War II. I believe from what I am seeing and have seen the past year, June 27th 2019 was the day that changed the course of the Hansen Collection. Prior to this day, Mr. Hansen would determine certain coins that he desired in his collection and would get into bidding wars to obtain them. Have you witness any bidding wars the past 12 months? I have not.
Prior to June 27th 2019, I believe there were some actors that were bidding up desirable coins. I don’t think that is happening as much today, because there is now a fear that Mr. Hansen may leave other bidder holding the coin. I know of one case that an ultra-rarity was bided up to a high premium, and Hansen dropped out. The coin was offered to him several times but he would not buy. The coin sold in a recent auction and the collector loss was significant. Mr. Hansen could have bought the coin around $100K cheaper in the fire sale auction. He decided he did not want the coin.
As I stated, this new application of Hansen’ philosophy has really change the course of this collection. There are upcoming auctions with probably 20-25 coins that are perfect coins to improve the Hansen Collection. I am not expecting Mr. Hansen to get into any bidding wars over these coins. If he is high bidder for any of them at a predetermine fair market price, we may see him buying a few. The days of overpaying for a coin that only upgrade a collection that is already pretty darn good, I think is over. This is very unfortunate turn of events for the sellers and the auction houses involved.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
You have to wonder whether all of them were real bidders or shills.
“The coin sold in a recent auction and the collector loss was significant.”
I have no idea what coin or auction you are even referring to, but, it might be a stretch to call it a “collector” loss. “Collectors” are typically not buying ultra rarities for their collection and then selling them off months later to begin with - let alone at a six figure loss in a fire sale. Highly unusual, although not impossible. I do know of some “investor/dealers” who might speculate on buying a coin Mr. Hansen needs in the hope he might pay more later, but, again, the idea is not to sell it off in a “fire sale” months later.
Just my two cents.
Wondercoin
This sounds pretty risky in my opinion. It is a little bit like investing in oil futures. Then, that’s just me. I would never draw to an inside straight. If I recall the odds, it is about 11 to 1.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
An expert poker player would draw to an inside straight if the pot odds or implied odds are better than the odds of hitting it, which may well be better than 11:1 in a game with exposed cards. Just as a point of information. Bidding in a coin auction against Hansen is probably more akin to playing chicken than poker, though.
I think what Hansen is doing is fairly unique so general rules may not make sense for his purchases. Since by definition he needed/needs every coin in the best condition possible, paying whatever it takes in each instance would be counterproductive. I think when people are critical when he passes on coins they believe are "must have" ----they make his point---he is saying nothing is a "must have". Passing on coins routinely may lose the battle but in the end win the war by making coins available at fair market value.
If he was in his 30s or 40s I would agree. He is much older. The coins might not come up for sale again in his life time. He was really lucky with the Pogue 1854-s $5. With that said, I can understand avoiding coin sharks on principle even if it means having an incomplete set.
I understand why you use the term an "incomplete set" but i find it hard to use any fashion with the Hansen collection (im probably reading more into it then you intended). First, im assuming he will have one or two coins that he will simply not acquire. Rather than describe it as an incomplete set i look at his collection as an amazing collection. Further, his collection is chalk full of complete sets of various series. If he does miss out on a coin or two using his strategy (and the jury is out on this), i dont think anyone will view it as an incomplete set.
New Leader in Seated Liberty Proof Quarter Dollars
I have written several times on D.L. Hansen Proof Quarter Dollars. The most attention goes to the pre 1858 proof set. This posting is dedicated to the Seated Liberty Quarters, Proof (1858-1891) set. The set is only 35 coins, but it is not a piece of cake by any means. Well maybe it is. PCCS describes the set as: This set contains the final years of the No Motto quarters, all of the With Motto quarters plus the two With Motto quarters with Arrows at Date. The good news is that every coin is affordable (relatively speaking) and available (at times) for a price. Yes, you have to find 35 different dates, but this set will stop the show when you complete it. From the pre-Civil War days to the final decade of the 19th century this series is filled with history. Not any of the coins are extremely tough to acquire, but the most difficult are the three to four years that are pre-civil war. Theses years are also the first years in the set from 1858 to 1861.
Mr. Hansen recently upgraded four coins in the set and propelled him to the top of the rankings. Forum member @SeatedToners wrote this in another thread a few days ago: Anyone else follow the registry sets for seated quarters? looks like there has been some movement in the rankings. For the past 5 years SImpson has had the #1 set and I just logged in this morning and it looks like Hansen has overtaken. The top 4 sets are all showing as "updated" and it looks like 3 of them list DLH as the user so maybe he bought another set to combine and overtake Simpson. Mr. Simpson created his set on 1/28/2015. His set has been number one since that first day. Mr. Hansen upgraded his set on 6/25/2020 and took the lead. The third coin he upgraded put him in first place, but he upgraded a fourth for good measure.
As you can see, two of the upgrades were PCGS POP 2/0, tied for finest. The 1873 with Arrows specimen has only one coin graded by PCGS finer. The difficult 1858 is a cameo beauty. The coin is not the finest graded, but I wonder where it ranks in appeal. I will wrap up by showing you the D. L. Hansen of Proof Seated Liberty Quarter Dollars are more than one set deep. In fact, Mr. Hansen has three of the top 4 current sets. He holds first and fifth on the all-times list. Let’s not forget, he has a great start on the early Seated Liberty Proof Quarter Dollars (1838-1857). I will plan to give an update on that set in the next couple days.
1858 Seated Liberty Quarter Dollar Proof PR64+ CAM
The Hansen coin is a half of a tick below GEM, dressing out at PR64+ CAM. He has a GEM proof in his #3 tribute set to Diana. There is one other coin that is PCGS graded PR65 CAM. There are handful of non-CAM technically better graded specimens than Hansen’s PR64+ CAM, including Diana’s and the coin that was part of the Eliasberg Collection. This is the comment provided by our expert Ron Guth: Proof 1858 Quarter Dollars are very rare. Estimated mintages range from a low of 80 Proofs to as many as 300. The PCGS Population Report suggests that the mintage of 80 Proofs is far too low and that the correct number is probably somewhere between 200 and 300 Proofs. Cameo Proofs represent approximately 20 percent of the total population; Deep Cameo Proofs are extremely rare. The finest Proof 1858 Quarter Dollar is the Eliasberg example, now in an NGC PR67 holder. This particular coin has appeared on the market at least eight times since the 1997 Eliasberg sale and appears to have finally found a permanent home in 2016 (at a price less than 50% of its former high).
When I did some research and discovered the price this coin was offered, I was very surprised. Another forum member wrote this recently: @rhedden said: People who build proof Seated sets usually have a lot of funds at their disposal, and they want the best of the best coins- PR67 and higher, pretty toning, CAC, the works. Seated coins in grades like PR63 and PR64 have really dropped in price, as they don't appeal to the Registry whales, and they are too expensive for a lot of collectors to put together a set. Plus, they often have hairlines in the fields, so "yuck." Who is going to buy them? If a middle-class collector wants a nice proof type coin, they buy one in PR65 or better, but they don't often put together complete sets of proofs in PR63….. Seated Proofs are now considered junk by some people, even less desirable than Chuck E. Cheese tokens with pizza stains on them.
I could have featured one of the other more expensive upgrades that Mr. Hansen purchased recently. The 1873 with Arrows, PR67, POP 1/1, valued at $24,000. The 1874 with Arrows, CAM PR67+ CAM, POP 2/0, valued at $32,500. Or, the 1889 25C PR68, POP 2/0 CAC Approved, valued at $17,500. Instead, I am featuring an 1858 PR64+ CAM, POP 2/6 valued at only $4,000. I think this coin proves the point being made by @rhedden. Mr. Hansen’s other known 1858 proofs, includes a PR64CAM and the Diana set has a GEM PR65, POP 4/2!
The 1858 Seated Liberty Quarter, PCGS PR64+CAM was offered on Sarasota Numismatics Website. The ask price of only $2,750. This is a pretty fair price in reference to last auction. The coin appeared in Heritage’s August 2017 ANA US Coins Signature Auction in Denver. The coin realized $2,702.50. The auctioneer description: From the first year of the Mint's commercial proof offerings. Despite some vivid highlights of burnt-orange, lavender-gray, and cerulean-blue toning, this Plus-graded Choice specimen displays intense cameo contrast between the deeply mirrored fields and the sharply detailed, frosty design elements. The surfaces are well-preserved, with a couple of tiny lint marks in the lower right obverse field that serve as pedigree markers. No provenance given. I will be interesting in watching to see how long this coin remains as the top 1858 Seated Liberty Proof Quarter Dollar Specimen in the D.L. Hansen Hall of Fame Collection.
1858 Seated Liberty Proof Quarter Dollar, CAM PR64+
PCGS POP 2/1 for CAM, POP 2/6
Certification #84213707, PCGS #85554
PCGS Value Guide: $4,000 / Realized $2,750
Provenance: Heritage’s August 2017 ANA US Coins Signature Auction in Denver
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
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There are only two coins that I believe Mr. Hansen feels they are very important for him in “completing” his goal. I not going to say which two they are, but if you have been watching the thread you should know. There are some coins that he has no desire to purchase and he feels they are not significant or does not fit his goals. So, I am not sure he would agree to calling this “missing out” if the coin is not what he is personally seeking, i.e., the 1913 Nickel, and the two 1880 Stella’s. He has no need spend 6-8 Million Dollars on coins without a desire to add to his collection. Many of us may disagree, but it is his collection and his money. If he doesn’t desire something, so be it. You can call it missing out or something else.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
New Addition - Seated Liberty Proof Quarter Dollar.
When discussing the Seated Liberty Proof Quarters (1838-1857) set, the dialogue leads us in a very different direction than the discussion two days ago with the 1858-1891 set. This is not a set for an average collector of Proof Quarters Dollars. The 1838-1857 set requires only 19 coins. PCGS describes the set as: This set contains a number of rarities. PCGS has certified only one 1838 No Drapery, 1846 and 1850. No 1839 No Drapery, 1840 Drapery, 1842 Large Date, 1842 Small Date, 1843, 1844, and 1852 have been certified! The set also contains the ultra-rare Proof 1853 Arrows & Rays (a one-year type coin) and other major rarities. Well…let’s get started!
You can start this set, but I not sure if anyone can finish it, including Mr. Hansen. John Jay Pittman’s completion was 84.21%. I don’t know how far Phil Kaufman got, but I don’t think he was complete. Anyone know? With the most recent upgrade, Mr. Hansen’s set is 68.42% complete. Before discussing the six missing coins, let’s take a look at the 13 coins in his set now. Of the 13 coins, six are PCGS Pop 1/0 specimens and one is POP 3/0, tied for finest certified by PCGS. All coins are condition census top 5 except for the 1855 25C Arrows PR63 Certification #84984411, POP 4/5. At least six of Hansen coins are Ex: Kaufman Specimens. This should give you a feel for the quality of this set. Before we look at the new addition, let’s see what effort (or luck) will be needed to complete the set.
The difficulty with the last six coins is incredible! As some of you know, proofs of this era come with controversy. Are they proof or proof like? There are some years that PCGS has not certified an example. There is a big risk in purchasing non-PCGS certified proof coins with hopes to cross to PCGS. This certainly is not an automatic process and in some cases, Mr. Hansen is very hesitant in purchasing anything other than PCGS. At this time, he doesn’t feel that he needs to take the risk.
For the six remaining coins, I have given a brief description. A description by Expect Ron Guth is provided when I could find one. For a couple coins, I had to write a brief summary. The 1854 with Arrows (Proof) may be the only coin that Mr. Hansen can find readily. The other five have very low mintage and for a couple may be unique. In a couple cases, PCGS has not certified a specimen. That could lead to concerns of not being able to locate a specimen that will cross to PCGS holder.
1838 25C Seated, No Drapery (Proof) Mintage: 3
Ron Guth: Only one Proof 1838 Seated Liberty Quarter Dollar is known to exist. This unique item first appeared in a 1954 Stack's auction and has appeared on the market only three times since then. Between 1957 and 2013 (over half a century), the coin was sequestered in an unknown collection. For a short time, this coin was one of the highlights of the Gene Gardner collection, who paid a record price for it in 2013.
1839 25C No Drapery (Proof) Mintage: 2
Ron Guth: The 1839 No Drapery Quarter Dollar is one of the greatest Proof rarities of the entire United States series. It is believed to be unique, and it is known by only the Boyd-Pittman-Kaufman-Gardner coin in NGC PR65. According to Akers, Pittman considered this singular coin one of the highlights of his collection. At its peak in the sale of the Kaufmann collection, this coin sold for over half a million dollars. Subsequent sales have seen a downward trend and in the 2014 sale of the Gardner collection, this coin realized just over $270,000, barely more than half its peak price. PCGS has not certified an 1853 25C Arrow & Rays (Proof) according to the PCGS POP Report.
1844 25C (Proof) Mintage: 5
PCGS gives Survival Estimate at four, only one certifiable condition. There may be a second specimen in National Numismatic Collection at the Smithsonian Institution, but I am not sure it has been verified. The third example is a PCGS cert #37806074 that is presently on the market for $82,500. This specimen is PCGS PR Genuine with UNC Details (97 - Environmental Damage). PCGS has certified one GEM, the Pittman – Kaufman PR65 Specimen that holds the auction record of $322,000 realized January 2008.
1852 25C (Proof) Mintage: 2
There were two coins minted in 1852. This is a boom year compared to 1851 that had none minted. PCGS gives Survival Estimate at two with only one is available and been certified. In a 2015 Heritage Auction, it was stated that the Ex: Pittman-Kaufman Specimen is the only proof available to collectors. The coin is an 1844 25C PR66 NGC. This Specimen that holds the auction record of $143,750 realized January 2004. Heritage lists a second specimen in American Numismatic Society, EX: R.C.H. Brock; J.P. Morgan. PCGS has not certified an 1852 25C (Proof) according to the PCGS POP Report.
1853 25C Arrows & Rays (Proof) Mintage: 5
Ron Guth: Proof 1853 Arrows & Rays Quarter Dollars are extremely rare...and confusing. Some are stone-cold, undisputed Proofs, such as the Kaufman NGC PR66CAM that once sold for $276,000. Others, like the Norweb and Eliasberg examples, started out as Prooflike Mint State pieces but have subsequently been called Proofs. Even David Akers had trouble with the Pittman example because it was Proof on the obverse, but not Proof within the shield stripes on the reverse (Akers ended up calling the Pittman coin a Proof; NGC concurred by calling it a PR64). Including the Proof-ish examples, there are approximately seven or eight examples known. One example is held in the National Numismatic Collection at the Smithsonian Institution. The Kaufman and Eliasberg examples are Cameo Proofs.
1854 25C Arrows (Proof) Mintage: 10
Ron Guth: Proof 1854 Quarter Dollars are exceedingly rare. Estimates of ten to fifteen examples have been floated about, which seems to be reasonable (we have images of nine demonstrably different examples, plus there are some examples we have not seen or for which we have not yet obtained images). The quality of the surviving examples is pretty good, usually in the PR64 to PR65 range, indicating that collectors purchased them and protected them well. Most are brilliant Proofs, though there are some Cameo examples. Unlike the Proof 1853 Arrows & Rays Proof Quarters, these are all convincing Proofs. The examples with the highest numerical grades are two NGC PR66's: one from the Pittman Collection and another from the Eliasberg Collection.
1849 Seated Liberty Proof Quarter, PR65+
As fine as this coin, there are two that are graded better. The mintage for the 1849 proof is eight. PCGS Survival Estimate is six. All six can be seen in this roster compiled by Heritage Auctions.
1. Pittman / Gardner Specimen - PR66 PCGS CAC: R. Green (10/11/1949); John Jay Pittman (David Akers, 5/1998), lot 1315, Eugene Gardner Collection (Heritage, 5/2015), lot 98376.
2. Clapp / Eliasberg Specimen - PR66 PCGS: William Dickinson Collection (Chapman Brothers, 3/1894); J.M. Clapp; J.H. Clapp. Clapp estate, 1942; Louis E. Eliasberg, Sr.; Eliasberg Estate (Bowers and Merena, 4/1997), lot 1445; Heritage (2/1999), lot 5915.
3. Hansen Specimen - PR65+ PCGS: From a numismatic holding formed in the 1950s; Long Beach Expo (Heritage, 6/2015), lot 3915; US Coins Signature (Heritage, 12/2019), lot3082.
4. Garrett / Kaufman Specimen - PR65 PCGS CAC: J. Colvin Randall Collection; John Work Garrett Collection, Johns Hopkins University (Stack's, 3/1976), lot 160; Kenneth C. Long Estate (Bowers and Merena, 5/1995), lot 1089; Phil Kaufman Collection, Part Three (Heritage, 4/2008), lot 2390; Greensboro Collection, Part III (Heritage, 4/2013), lot 4221; FUN Signature (Heritage, 1/2014), lot 5219.
5. Holden / Norweb Specimen - PR64: Thomas Elder; Albert Holden; Norweb Collection (Bowers and Merena, 3/1988), lot 1585.
6. Donald H. Carter Specimen - PR63 PCGS: FUN Signature (Heritage, 1/1998), lot 6781.
At the time Ron Guth wrote his comments, I am wondering if the Hansen Specimen is the sixth coin that he was not aware. The Hansen coin appears to be fresh after being in a collection for more than 50 years. This is what Ron wrote on the coin: The Proof 1849 Quarter Dollar is a very rare coin, with only five examples positively known to exist, with perhaps two to four more that may be out in the woodwork. All five of the known examples are well-preserved, starting at PR63 and going to PR66. The top two examples, both PCGS PR66, are from the Pittman and Eliasberg Collections.
The Hansen coin introduced itself to the public in a Heritage June 2015 Long Beach Expo US Coins Signature Auction in Long Beach, CA. The coin was in a PCGS PR65 holder and the description stated: prior pedigree unknown. The coin realized $28,200. The coin was upgraded to a PCGS PR65+ and made a second auction appearance in Heritage December 2019 US Coins Signature Auction in Dallas, TX. In this appearance, the coin was described as being from a numismatic holding formed in the 1950. Heritage describes the coin as: Our roster of proof 1849 Seated Liberty quarters includes six examples that grade PR63 to PR66. PCGS has graded five pieces including two in PR66 and one each in PR65+, PR65, and PR63. NGC submissions include three coins grades PR66, PR64, and PR63 (10/19). PCGS Coin Facts estimates that just three to five proofs are known. Our own roster, published when we offered the Eugene H. Gardner Collection, enumerated five distinctively different examples. Rich ocean-blue toning dominates this fully struck specimen, although the borders display narrow bands of peach and straw-gold. We know of six examples that grade PR66 to PR63. Just two are marginally finer than the present Gem proof. The coin realized $22,800 in this sale.
It is not known to me how this coin came to be in the Hansen Collection. I could not find any recent web offers. The condition census coin works well in D.L. Hansen’s Seated Liberty Proof Collection. I wish I could share a little more on how Mr. Hansen prioritizes the early (1838-1857) sets. In all the sets (Half Dime to 1885 Trade Dollar), he has approximately 30 coins remaining. Most all of them are very difficult and extremely low mintage. Let’s watch and see if he adds more.
1849 Seated Liberty Proof Quarter, PR65+
PCGS POP 1/2, Gold Shield
Certification #39551087, PCGS #5543
PCGS Value Guide: $32,500 / unknown
Provenance: From a numismatic holding formed in the 1950s; Long Beach Expo (Heritage, 6/2015), lot 3915; US Coins Signature (Heritage, 12/2019), lot3082.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Wonderful narrative of events.
What is baffling to me about the story is why bid and buy a bunch of upgrades while cutting your max bid By $1.5M for the one coin you actually NEED?
Latin American Collection
Truely amazing article! One thing i hope it does is dispel the notion that Hansen is a billionaire who simply throws money at coins with little thought. It shows how he wasnt comfortable with the other 1854-S; the weekly discussions with John Brush about the value, the other bidders, etc; and the decision making of buying this 7 figure rarity during a pandemic and what appeared to be an economic meltdown. Wonderful article!
Your question isn't lost on me...it's a very good one. But, it gives you some insight into the mind of Mr. Hansen. He's the consummate collector. It was an opportunity to find a lot of meaningful coins for the collection, but with the placement of the 54-S $5 occurring later in the auction, the unknown about how much it would bring could leave you empty-handed with no purchases at a highlight sale.
As for DLRC, I would have been thrilled if he had left more Barber Quarters for me...
President of David Lawrence Rare Coins www.davidlawrence.com
email: John@davidlawrence.com
2022 ANA Dealer of the Year, Past Chair of NCBA (formerly ICTA), PNG Treasurer, Instructor at Witter Coin University, former Instructor/YN Chaperone ANA Summer Seminar, Coin World Most Influential, Curator of the D.L. Hansen Collection
I especially enjoyed John Brush's recollection of a great auction victory at a time when most collectors were hiding under their beds. And I am very happy for DLH for his acquisition of a very rare coin that is not often seen in the market. But with a mintage of 268 coins he will have to wait for the shoe to drop with the discovery of a hoard, or another shipwreck, that will over populate the market. I do not recall any reasons that the Mint might have been melting gold coins in 1854-1855.
But congratulations are in order for DLH and JB for a great acquisition.
OINK
My take aways:
Brent Pogue would roll over in his grave if he knew the price his prized 1854-S $5 ultra rarity would realize, and the whole ordeal does not bode very well for Stacks-Bowers. The pandemic was already severe enough that it scuttled the show and caused the auction venue to change three times. Even then there was uncertainty about whether the auction could legally occur at Stacks-Bowers’s office in California given it was unclear if it could qualify as an essential business. I’m still not sure how Stacks-Bowers could get around the very obvious conclusion that coin auctions are not essential. The auction should not have occurred. Even when it did, there were FOUR people present. It was grossly negligent of them to hold the sale. We now know that economic uncertainty, including the quickly crumbling and unstable equities markets, was a major factor among many of the bidders. It says a lot when a top pop ultra rarity and the only one to sticker (PCGS CAC AU58+) sells for less that an unstickered NGC XF45 that many had speculated (perhaps unfairly) could have been the stolen DuPont coin that sold a little over a year prior. According to DLRC is looks like the XF45 coin was a mediocre example at best. I sure hope Stacks discounted their commission even further and did not bill Pogue’s estate for the charter flight it used to haul two customers (half the auction attendance apparently) for an auction that should never have happened.
Laura always raves about buying every important coin to ever exist and that she only deals with the finest. I’m not sure how she could then pass up on a top pop ultra rarity at a fire sale price in an estate sale. It was the only one that has stickered to boot! I hope Laura is okay.
John has to be a saint to maintain civil discourse with Laura let alone board a private jet with her for several hours after all of the shade, animus, and vitriol directed at him/his firm and D.L. Hansen including several pages of now deleted posts from this thread.
Congratulations to Brush and Hansen! Very well played...
What a super story!
Thank you!
There's always that risk with any great rarity I believe...even an 84 or 85 Proof Trade Dollar (though if I found a bag of either, I'd think it is suspect). But, I think after 166 years, we feel pretty comfortable that another roll (or bag) won't pop up...
President of David Lawrence Rare Coins www.davidlawrence.com
email: John@davidlawrence.com
2022 ANA Dealer of the Year, Past Chair of NCBA (formerly ICTA), PNG Treasurer, Instructor at Witter Coin University, former Instructor/YN Chaperone ANA Summer Seminar, Coin World Most Influential, Curator of the D.L. Hansen Collection
After reading the article, I think In-N-Out Burger should hire Brush to do a commercial. "Hi, when I had just won a world class coin rarity at a fire sale price of under $2M, where did I go to dinner to celebrate? In-N-Out Burger!" No need to mention that most of the A-list restaurants in LA were closed down at the time.
Joking aside, I really enjoyed the article. It's definitely a rush to win a coin you desperately want for far less than anticipated.
I'd settle for them just opening one in Virginia Beach...of course, then I'd have to fight a lot of inner turmoil on a daily basis in choosing between Chick-Fil-A and In-N-Out...
President of David Lawrence Rare Coins www.davidlawrence.com
email: John@davidlawrence.com
2022 ANA Dealer of the Year, Past Chair of NCBA (formerly ICTA), PNG Treasurer, Instructor at Witter Coin University, former Instructor/YN Chaperone ANA Summer Seminar, Coin World Most Influential, Curator of the D.L. Hansen Collection