This is a popular 24 piece gold set, but difficult. PCGS described the set as: In 1908 the transition was made from the long-lived $5 Liberty series (1839-1908) to the radically designed $5 Indian. Both the $5 and $2 1/2 Indian gold pieces were introduced in 1908, and both carried the incuse design, never seen before (or since) on a United States coin. The $5 Indian series is filled with rarities. In fact, 15 of the 24 dates have a population of seven or less in MS65! Two of the 24 dates are unknown in MS65 or better, or at least uncertified. PCGS has graded well over 40,000 $5 Indians in all dates and grades, but barely 300 have qualified as MS65 or better. Key dates of the series in any mint state grade include the 1908-S, 1909-O, 1909-S, 1910-S, 1911-D, 1912-S, 1913-S, 1914-S, 1915-S, and 1929.
There are 42 current registry sets, and more than 50 all-time. As popular as this set is, this is not a set that we have discussed here very often. I cannot remember the last time. Main reason, this is not one of the sets that Mr. Hansen appear to be focused on. Also, it is one of the few sets that he is not on the leader board. Currently the Hansen set is #6 in the All-Time rankings.
Jim O’Neal is the name that comes to mind when you think about Indian Half Eagles. The Collection of Indian Half Eagles that he assembled has never been surpassed. He retired his set about 10 years ago. Sadly for whatever reason, he never obtained the PCGS Hall of Fame. All his coins were PCGS Condition Census Top Five except three. The set had six sole finest, PCGS POP 1/0, and five others tied for finest. I predict this set will remain at the top of the leaderboard for the foreseeable future.
Number two on the board is Dr. Thaine B. Price. His set is described as: He collected coins for over two decades. His goal was to assemble the finest possible set of 20th Century gold series, i.e. the four series minted from 1908 to 1933. Dr. Price had a great eye for quality and he was assisted in his pursuit by one of the top experts/dealers in the field, David Akers. Dr. Price also decided to put together the finest possible set of circulation strike Barber half dollars, and he also built a nearly complete set of Gem proof Barber halves. When David Akers auctioned the Price collection in 1998, it was one of the major events of the year, even though the auction only had 213 coins. The Price collection of $5 Indians was spectacular, perhaps the best ever assembled. The set featured many Gems and Superb Gems, including some "finest known" specimens. The key 1909-O was the Eliasberg coin and it brought a mind-boggling $374,000 at the 1998 Price sale. The rare 1910-S was also the Eliasberg coin. The key 1913-S was a spectacular MS66 and it brought $110,000 at the Price sale. The 1915-S was a gorgeous MS65 and it brought $66,000 at the Price sale.
Number Three is from Dr. and Mrs. Steven L. Duckor Collection. The set is described as: The toughest 20th century gold series to assemble are the $5 Indians. My collection is highlighted by the ultra-rare 1909-0 in 65, 1909-S in 66, 1910-S and 1911-S in 65, finest known 1913-S in 66, and 1929 in 65. This collection was certified by PCGS in 1989, many of the grades would be even higher today. Of the remaining issues most were gems!! Although the complete set was auctioned in the David Akers section of Auction '90, many of the prices achieved have yet to be broken.
Number Four is the Kutasi Collection. The set was retired in 2005 and the reached as high as number three in the registry. The set was described as: After completing this set, it dawned on me how tough and underappreciated this series really is. I would consider the 1914-s to be the rarest of the series in high grade. In MS65 even the common dates at one time sold for double where they are today. The set is highlighted by a superb 1914-s, a near gem 1909-o, and a very pq 1915-s, 1913-s and 1910-s. The rare 1929 is an also a gem. Half of the coins of this set are pop top and 90% have only 1 or two graded higher! Wrapping up the leaderboard is the second registry set of The Jim O'Neal Collection Of Indian Half Eagles. There is one significant set that was on the leaderboard but now is missing.
For the last decade, Bob Simson set has been the top of the current sets. As can be seen, his set received the ten year ribbon last year. Sadly, the set has been desecrated, dropping from #2 All-Time to 30th. We know part of his collection is being sold by Heritage Auction. Why was the set not retired like many of the other great sets? It is not limited to the Indian Half Eagles, but all of his sets are being dishonored. My theory is this. From his recent video, he told us collecting sets were not important to him. That would lead me to believe that he never was a registry person, and probably never added a single coin himself. Then who did it for him and why? Sadly, whoever that was appear not to care anymore, and is allowing his sets to die a cruel death on the vine. This is very sad indeed.
In The Bob R. Simpson Collection, Part I Heritage Auction, there were nine of his Indian Half Eagles circulating strikes that were sold. To my knowledge, Mr. Hansen did not purchase any of them. The next five sales will be offering as follows:
Two in November Sale
Two in January FUN Sale
Five in February Sale
Seven in April Sale
Only one Indian Half Eagle circulating strike specimen will be offered at the last auction in August 2021, and that coin will be a 1911-D MS65. What a way to bring a conclusion to the Indian Half Eagles. Will Mr. Hansen pickup any of these GEMs in the future? This recent purchase may show some interest turning to the Indian Half Eagles. We can watch and see.
1914 Indian Half Eagle, MS66, POP 2/0, CAC Approved
When I first saw this update, the first thing come to my mind was that Mr. Hansen purchased one of the Simpson Indian Half Eagles on a post auction rebound. When I looked it up, it was not the Simpson coin that he purchased but another 1914 Indian Half Eagle, PCGS MS66 Specimen. As I stated earlier, there were nine Indian Half Eagle CS specimens offered in the first sale, with one being the 1914 Five Dollar Indian, MS66 that realized $168,000. PCGS valued the coin at $100,000. The coin is the Jim O'Neal specimen and was marketed as The Sole Finest at PCGS. The population given was: 1 in 66, 0 finer. CAC: 2 in 66, 0 finer (8/20). If I read this correctly, there appear to be one PCGS MS66 CAC specimen and one other, probably NGC MS66 CAC. The NGC report still shows one MS66, but I believe that is now false. In the Heritage Auction description: The 1914 Indian half eagle is scarcer than earlier Philadelphia issues in the series, and the collecting challenge begins to become noticeable in grades above MS63. In MS65, this date is properly scarce, and that grade is the finest that most collectors deem this issue accessible. Just two higher-grade pieces are reported, one at PCGS and one at NGC, both designated MS66. Between those two, only the PCGS coin -- offered here -- has ever appeared at auction. This piece highlighted our 2011 FUN Signature sale as part of the Jim O'Neal Collection and realized a record-setting $126,500. It has not appeared at auction since, and one can only guess the sort of collector demand that it will encounter when it crosses the auction block at the ANA.
The details of the coin are a not complete mystery. NGC published an article on the 1914 MS66 NGC coin. The article was posted 8/28/2020 and titled: High-grade NGC-certified 1914 Half Eagle in GreatCollections Sale. The articled stated: An exceptionally well-preserved 1914 Half Eagle is among the NGC-certified rarities being offered by GreatCollections in sales ending Sunday, August 30, 2020. Graded NGC MS 66, it is the single-highest among nearly 3,000 in the NGC Census. Bidding had already exceeded $63,000 two days before the auction ends. A conditional rarity, the 1914 Half Eagle is relatively easy to find in lower Mint State grades but nearly impossible to find at this grade. The Indian Head series was issued annually from 1908 to 1916, and returned for a last hurrah in 1929. The Hotlisted coin had 42 bids and in the end realized $70,933.88 with buyers fees. Eighteen days later, the O'Neal/ Simpson Specimen brought $168,000, just shy of $100,000 more!
I cannot say for sure if Mr. Hansen or his team purchased the coin in the GreatCollections Sale. It would be very rare that they buy a NGC coin and hope to cross it over. Keep in mind, a PCGS MS 65 coin is valued at $12,000 and a PCGS MS 65+ coin is valued at $20,000. I have heard John Brush say buying NGC coins and crossing them is not a risk they see as necessary. The risk was definitely high, but in this case it certainly paid off for someone. I cannot find the coin ever being marketed in the PCGS holder. I am not able to determine any additional pedigree information on this specimen. If Ron Guth or anyone else can help, it would be appreciated?
Without knowing more, this is a really nice upgrade to the Indian Half Eagle CS set that looks like now is showing some progress. The set now has eight PCGS Condition Census Top Five specimens, including three certified as tied for finest by PCGS. The centerpiece is the 1908 Indian Half Eagle, MS76+, CAC, POP 1/0.
1914 Indian Half Eagle, MS66, CAC Approved Certification #40222594, PCGS #8527, POP 2/0 PCGSGV: $100,000 / Unknown
$5 indians in gem or better with cac approval are difficult to find a trade at a big premium. Nice addition.
@Zoins said:
There could be other reasons. Perhaps it doesn't fit into Hansen's budget earlier?
Ding, ding, ding!
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 am not sure how many proof sets were produced in 1892. The mintage given to individual coins is 1245, and one cent at 2745, so there must have been quite a few sets sold. This set is one of the survivors, at least for the moment. The set was offered a couple months ago by Harlan J. Berk, Ltd. On their website, it indicates: Harlan J. Berk, Ltd. is located in the historic Chicago Temple Building which opened in 1924. Since 1947, this has been one of the premier coin store locations in the country. The description of the store is very interesting: Located in Chicago’s Business District, Our ground-level retail store features 18 windows along Clark Street displaying an array of U.S., world, and ancient coins, currency, antiquities, and historic maps and prints. Enter the storefront and you will find a good, old-fashioned coin store. There are various displays of coins and currency along with a large selection of books and supplies for the collector. If ever in Chicago, it could make an interesting visit.
The set was listed as: $1 1892 USA Morgan Dollar, 1892, $1, PR68 DCAM, PCGS/CAC, Complete Proof Set - All CAC. Naturally the 1892 PR68 DCAM Morgan Dollar is the headliner. The remaining coins are pretty decent as well: Original 1892 Proof Set - sold as a set. All coins in this remarkable set are PCGS graded and CAC verified. Grades are as follows: 1c - Proof 66 Red, 5c - Proof 66 CAM, 10c - Proof 68 CAM, 25c - Proof 67+ DCAM, 50c - Proof 67 DCAM, $1 - Proof 68 DCAM. Along with coins came an interesting story: Without a doubt the finest Proof set we've handled and I believe one of the finest Proof sets obtainable. Harlan J. Berk, Ltd. purchased the set, intact, from a Chicago family who's great, great Grandfather purchased the set from the Mint at the conclusion of the 1892 Columbian Expo held in Chicago. The family indicated he was a collector, a well known physician and worked at the Expo. Research indicates the Mint did in fact have a display of their current coinage at the expo. Absolutely original and quite amazing! The Dollar is the finest known by three grade points, the Half has just one coin graded finer at a 67+ and the Dime has only one coin graded finer as a 68+. The ask price for the set was $152,250.
This is not the first appearance of this set. The set was called the “Columbian Expo Set” in the PCGS registry. The set may have been owned by Patrick J. Mullen. The same account list a couple sets with that name. Also, there is a coin dealer with the same name. I don’t have a firm connection, so take this info with caution. The Columbian Expo registry set was first published in March 2004 and retired December 2006. The set remains number one in registry, but this should change when the Hansen Collection is upgraded.
We do not know the details on the purchase of the set. We do know at least four coins ended up in his collection. The four coins were the perfect compliant to the Hansen set. Being the Hansen registry set is closed for public view, it may be some time before we will see the updates in the set.
1892 1C, RB PR66RB Cert #31487480 replaced with PR66RD Cert #25515012, POP 18/19
1892 10C PR67+ Cert #35320064 replaced with PR68CAM Cert #25515014. POP 1/1
1892 50C, DCAM PR66+ DCAM Cert replaced with PR67DCAM Cert #25515016, POP 1/10
1892 $1, CAM PR67CAM Cert #81331021 replaced with PR68DCAM Cert #25515017, POP 1/0, Sole Finest PCGS certified
1892 5C, CAM PR67CAM Certification #25271397, POP 4/3 remains
1892 25C, DCAM PR68DCAM Certification #06055615, POP 5/2 remains
Also the set contains PCGS Condition Census Top Five coins for three of the four proof gold coins. The only missing coin in the set is the 1892 Eagle.
1892 Morgan, PR68DCAM, CAC Specimen, Ex: Columbian Expo Set
All the coins are great additions, but I will focus on the PCGS Pop 1/0 Specimen. If you like Morgan Dollars, you have to love this coin. The 1892 Morgan Proof Dollar is not rare, but is difficult to find in high grade DCAM. This PR68DCAM does not have a close competitor. The next highest PCGS grade in DCAM is PR65+. This is a pretty nice little gap. Only four 1892 DCAM has been PCGS certified, two PR64DCAMs, the PR65+DCAM and the Hansen PR68DCAM, CAC Approved.
So, rarity is the name of the game for 1892 Morgan DCAMs. In a recent Heritage description for a different coin: The proof 1892 Morgan dollar's high mintage in relation to other proof issues in the series makes it plentiful today. However, quality is lacking on most survivors. Dave Bowers and Wayne Miller have both described the 1892 proof as frequently coming poorly struck, and a glance at auction appearances reveals that the issue is decidedly rare in Superb Gem condition. Cameos are in a minority, and only the most patient and well-heeled collectors can attempt to acquire a rare Ultra Cameo, such as the coin offered here.
The appearance of the coin is stunning, but not colorful. If you love color, this is not the coin for you. The coin is valued by PCGS price guide at $65,000. Naturally, if the coin was purchased in a set, we do not know what the coin actually realized. The D. L. Hansen Proof Collection is really shaping up.
1892 Morgan, PR68DCAM, CAC Specimen Certification #25515017, PCGS #97327, POP 1/0 PCGSGV: $65,000 / Unknown Ex: Columbian Expo Set
As I reported just few weeks ago, the U.S. Coins Complete Basic Set, Proof (1801-1964) has surpassed 75%. PCGS describes the set as: Every basic classic U.S. coin in Proof from 1801 through 1964, this set is one of the greatest challenges in the Registry. A collection of this size could take many years to assemble in high grade. I have not discussed this before, but it appear to me, Mr. Hansen is building his proof set on some of the principles we have seen on the Hall of Fame Mint Strike Collection. Quality, Appearance, and Condition Census. For example, while observing the 1145 pre-1964 Proof Set, there is presently 231 DCAM specimens of the 874 coins currently listed 26.5%. Another 292 specimens are CAMs 33.4%. The means 60% of the proofs are Cameos or better. In last update, there we saw seven upgrades with all being CAMs with one Indian Cent upgraded with a RED. This is becoming a fun set to watch.
If we focus in on the 1871 proof set, we will find an outstanding group of coins (note: this is not the complete 1871 set). As you can easily see, the new 1871 PR64DCAM would probably not be considered as the showcase coin. The coin is tied with other for the finest DCAM, therefore the coin is not a POP 1/0 specimen as six other coins in the date set. This is not uncommon for the other date sets. As you can see, the Three Dollar and Double Eagle are still missing for the date. When all is said and done, the proof collection will be simply amazing.
1871 Eagle PR64DCAM
The 1871 Proof Eagle has a mintage 30. This dated comment was offered by David Akers: The proofs of this date are rarer than the mintage would indicate and thus are among the rarest of the With Motto type. I would estimate that only 7-8 survive, and only the Garrett and Kaufman examples have appeared on the auction market in over 30 years. According to PCGS Auction history, six PR64 specimens have been offered starting with Eliasberg ‘s PR64 coin offered by Bowers & Ruddy in October 1992. The coin realized $33,000. Eight years later, the Harry W. Bass PR64 PCGS specimen was offered by Bowers & Merena in November of 2000. The coin realized $29,900. The Trumpeter PCGS PR64 DCAM was offered at Heritage’s 2002 (FUN) Signature Sale and again eleven years later in Heritage’s 2013 US Coins Signature Auction where coin realized an auction record of $76,375 that still stands today. The two most recently offers have been the new Hansen Specimen that I will discuss a little later.
In the 2013 Trumpeter sale, Heritage offered a Roster of the ten known Proof 1871 Liberty Eagles:
1- Eliasberg Specimen, Choice Brilliant PR65. Possibly Harlan Page Smith Collection (S.H. & H. Chapman, 5/1906), John H. Clapp; Clapp estate, Louis Eliasberg via Stack's in 1942; United States Gold Coin Collection (Bowers and Ruddy, 10/1982), lot 736. 2- Trompeter Specimen, PR64 Deep Cameo PCGS. Ed Trompeter; FUN Signature (Heritage, 1/1999), lot 8233; Long Beach Signature (Heritage, 6/1999), lot 6589; Exclusively Internet Auction (Heritage, 4/2001), lot 2498; Exclusively Internet Auction (Heritage, 11/2001), lot 1585; FUN Signature (Heritage, 1/2002), lot 8320, the present coin. 3- Smithsonian Specimen PR64 Deep Cameo. National Numismatic Collection, Smithsonian Institution, purchased from the Mint on February 10, 1871, grade by Jeff Garrett and Ron Guth. 4- Bass Specimen, PR64 PCGS. Hebbeard Collection (H.P. Smith, 4/1883), lot 382, part of a six-piece gold proof set; T. Harrison Garrett; Robert Garrett; John Work Garrett; Johns Hopkins University; Garrett Collection (Stack's, 3/1976), lot 441; Harry W. Bass, Jr.; Harry Bass Collection, Part II (Bowers and Merena, 10/1999), lot 1522; Harry Bass Collection, Part IV (Bowers and Merena, 11/2000), lot 698. 5- Reed Specimen,Proof, Byron Reed; City of Omaha; Byron Reed Collection (Spink America, 10/1996), lot 163. 6- Kaufman Specimen,Brilliant Proof. N.M. Kaufman Collection (RARCOA, 8/1978), lot 881. 7- PR58 NGC. FUN Signature (Heritage, 1/2012), lot 4985; 8- Norweb Specimen, PR45. Peake Collection (New Netherlands, 6/1955), lot 152; Norweb Collection, Part II (Bowers and Merena, 3/1988), lot 2199. 9- Bass Second Specimen, PR40 ANACS. Gilhousen Sale, Part I (Superior, 2/1973), lot 700; Harry Bass Collection, Part III (Bowers and Merena, 5/2000), lot 671; FUN Signature, 1/2005), lot 9316. 10- ANS Specimen, Proof. A specimen in the collection of the American Numismatic Society, previously from R.C.W. Brock and J.P. Morgan.
I have not been able to link the Hansen Specimen to any of the 10 known coins on the 2013 Heritage list. The coin first appeared in a February 2016 Rarities StacksBowers Auction. Described as: Exceedingly Rare Proof 1871 Liberty Eagle, Only 10 to 12 Known. It was listed as: Top PCGS Grade in 1871 Liberty Eagle. Proof-64 Deep Cameo (PCGS). Secure Holder. The rarity of the coins as described as: The Proof 1871 Liberty eagle entered the annals of numismatic history as a rare issue with just 30 examples originally struck. Only 10 to 12 of those coins are believed extant, two of which are permanently impounded in the collections of the Smithsonian Institution and American Numismatic Society. Of the specimens that are in private hands, at last three are impaired, indicative of the fact that many Proof gold coins from this era were placed into circulation during the late 19th century. The opportunity to acquire a Proof 1871 eagle of even marginal quality is a rare and important event for the advanced specialist, while the acquisition of this exquisite Choice Proof would be a defining moment in any numismatic pursuit.
The coin was offered for the second time in July 2020 in a David Lawrence Rare Coin Auction that closed Sunday, July 26, 2020. The coin was described as: 1871 $10 PCGS Proof 64 DCAM, Finest Known Rarity! DLRC detail description: Tied for the finest example graded with one other piece, this is a stunning example of an extremely rare date. Seldom seen in either business strike or proof format. From a proof mintage of just 30 pieces, 10-12 examples are estimated to have survived. The present example is fully struck and remarkably preserved. The satiny devices contrast starkly against highly reflective mirrors both tinted even yellow-gold. The eye appeal is astonishing! Previously sold in 2016 for $70,500 and in 2013 for over $76k! The coin realized $70,500 and in an interesting fact, this is the exact same amount that was realized in 2016 StacksBowers sale.
It would be nice if we could trace that coin to an early owner. It does not appear to be listed on Heritage’s ten coin list. We know of early appearances of the 1871 Proof Eagle from famous collections of Lorin G. Parmelee, Thomas Cleneay, F.C.C. Boyd, and William Cutler Atwater to name a few. The Atwater coin was described with no picture as “Prefect sharp brilliant proof with wire edge. A perfect gem, and as such, very rare and valuable”. The coin realized $235 in 1946. The Hansen 1971 Proof Eagle coin is still truly amazing coin, if an historic connection is never made. I am not sure that I see why this eye candy is not a GEM, anyone care the elaborate?
Provenance: Rarities Night (StacksBowers 2/2016), lot 226, realized $70,500; (David Lawrence 7/2020) #2102232, realized $70,500, D. L. Hansen Collection.
The 1871 Proof Eagle has a mintage 30. This dated comment was offered by David Akers: The proofs of this date are rarer than the mintage would indicate and thus are among the rarest of the With Motto type. I would estimate that only 7-8 survive, and only the Garrett and Kaufman examples have appeared on the auction market in over 30 years. According to PCGS Auction history, six
Provenance: Rarities Night (StacksBowers 2/2016), lot 226, realized $70,500; (David Lawrence 7/2020) #2102232, realized $70,500, D. L. Hansen Collection.
[...] 1871 Eagle, PR64DCAM PCGS Tied Finest Certified DCAM Proof 1871 Eagle Certification #25223370, PCGS #98811 PCGSGV: $76,000 / realized $70,500
Wow! The photos make that look much nicer than a 64! I wonder what's holding it back.
The 1871 Proof Eagle has a mintage 30. This dated comment was offered by David Akers: The proofs of this date are rarer than the mintage would indicate and thus are among the rarest of the With Motto type. I would estimate that only 7-8 survive, and only the Garrett and Kaufman examples have appeared on the auction market in over 30 years. According to PCGS Auction history, six
Provenance: Rarities Night (StacksBowers 2/2016), lot 226, realized $70,500; (David Lawrence 7/2020) #2102232, realized $70,500, D. L. Hansen Collection.
[...] 1871 Eagle, PR64DCAM PCGS Tied Finest Certified DCAM Proof 1871 Eagle Certification #25223370, PCGS #98811 PCGSGV: $76,000 / realized $70,500
Wow! The photos make that look much nicer than a 64! I wonder what's holding it back.
Agreed, looks near perfect in the photos. My guess - hairlines in the fields that don't show up in the trueview.
Hard to tell from pictures but the fact that it isnt stickered tells me it properly has some hairlines that are hard to see in the picture. CAC is very strict on proof gold and that is probably what is holding it back from a higher grade. Regardless, a spectacular coin.
Great coin! Super rare. It would be one of the few NON-CAC coins I would buy. Yes CAC is tough which why most non CAC are actually one grade lower. Why do people even debate this? it is true in most cases.
I would pay the same price for a CAC 63+DCAM which this coin more than likely is. Wonderful coin! Unlikely to find another.
@neildrobertson said:
This may be a dumb question. How are you learning about his newest acquisitions if his set is closed to the public?
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Not a dumb question. Great question actually. I can confidently say that it’s not because I have psychic abilities.
Last time I looked, Mr. Hansen’s collection had 1696 registered sets. Before he announced closing them, all were open. There are still a few that are open for public viewing, but not many. I watch for updates by using the New and Updated Set in the Set Registry News feature. This will show all sets that are updated (last five days), even the closed one. The trick is finding a set that is not closed to the public. As I said, out of the 1696 sets, there are a very few. Below is a screenshot of what I am saying. As you can see, for the proof updates that I have been showing last couple postings, there are a couple proof sets opened. As you can also see, he updated the Barber sets. I can see how many coins he updated in the sets, but I cannot determine the actually coin(s). So, I do not know all the upgrades that are occurring in all the sets as before.
Just to be transparent. On a few occasions John Brush will give me a tip on special purchases if I ask him. He was gracious enough to reply by giving me information on the five Simpson coins and the three Morelan Dollars a few weeks ago. The updates on the proofs was purely by my watching and searching, as anyone here can do.
I hope that help. In the mean time, I am working on my psychic abilities.
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In my last Liberty Gold Dollar Update, the featured coin was the 1861-D Gold Dollar, MS64+, Duke Creek/Simpson specimen from the Bob Simpson sale offered by Heritage Auctions. This update does not reach that altitude, although it is a great upgrade to the little shiny coins. The D. L. Hansen Collection of One Dollar Gold is probably the best ever assembled, according to the PCGS registry. The circulation strikes have surpassed collections assembled by Harry W. Bass, Louis Eliasberg, Smithsonian, J.S. Morgan, Norweb Family, J.J. Pittman, Steven Duckor, and more. Many of these collections did not even reach 100% complete. If you consider the proof coins, the Collection ranking is also at the top. The Hansen Set tops sets assembled by Ed Trompeter, Garrett Collection, and not mention names like Bass and Eliasberg from the first list.
The PCGS One Dollar Gold Basic, Circulation Strikes (1849-1889) registry set consists of 76 coins. The set is described as: This long-lived series is composed of three different types and includes rarities from such romantic Mints as Dahlonega, Charlotte, and New Orleans as well as San Francisco and Philadelphia. These small coins are rich in history, and many issues were minted in extremely small quantities. Some of the low-mintage dates were hoarded in Gem condition, most notably those of 1879-89, while others are unknown in Mint State 65 or better. This is another series that is filled with rarities, but it makes a magnificent set when completed. The set has 46 coins (60%) PCGS certified MS65 (GEM) or better. There are 23 coins finest certified by PCGS with ten coins graded POP 1/0. The lowest grade in the set is a pair of AU53 Dahlonega gold dollars (1855-D and 1856-D). The new coin is a MS68 specimen. Does it get any better?
1850 Gold One Dollar MS68, CAC Approved, Ex: Eliasberg
I asked does it get any better. Well, the answer is yes, when the coin is a MS68 with an Eliasberg Pedigree. This coin is one of the highlights from the Louis Eliasberg #3 All-Time PCGS Set of One Dollar Gold. The set is described as: The Eliasberg gold dollar collection was complete as a basic set. It did not include the ultra-rare 1849-C Open Wreath variety. Like other Eliasberg sets, his gold dollar set was a mix of proofs and circulation strikes, as was the collecting custom prior to the 1980s. The Eliasberg circulation strike Gold Dollars featured many high quality examples and all the rare branch mints. Highlights include the spectacular 1850 in MS67 which caused quite a stir at the Eliasberg sale when it brought a then eye popping $11,000. As stated here, when the Eliasberg coins were sold in October 1982, the new Hansen specimen was graded MS67 and realized $11,000. The history of the coin according to Eliasberg: He purchased the coin when he acquired the John Clapp collection in 1942, earlier from the George Crawford collection, auctioned by Charles Steigerwalt in 1894. The coin as purchased at the Bowers & Ruddy Oct '82 Eliasberg sale by Fred Weinberg. Legend Auctions commented: In the 1982 Bowers and Ruddy Sale of the United States Gold Coin Collection (Eliasberg), this coin appeared as lot 6, where the cataloger clearly describes this coin as being a possible "presentation striking." Regardless, today, it rates as one of the absolute FINEST Type One gold dollars of any date, and has a look that will delight any serious gold collector.
I am not sure I would describe the coin as a presentation strike, but it does have a unique appearance. Look for yourself. The coin’s appearance was described on May 14th of this year in the Legend - Regency 38 Auction. In the auction, the coin was described as: Virtually perfect in every way, this coin is a delight to behold. The bold, brilliance of the wonderful golden luster booms all over. Both sides offer the sharpest striking definition, the die polish lines clearly visible in the fields. The devices are thickly frosted, while the surfaces have a rich, satiny glow that has touches of Prooflike flash in the obverse fields. Every detail is razor sharp, a masterpiece survivor of this early Type One gold dollar. The coin realized $88,125, an auction record.
According to Legend, In SUPERB grade, the 1850 is virtually unobtainable; indeed the grading service populations combined in MS67 through MS68 represents a total of FOUR COINS, this coin accounts for three of them! The only other example is the Akers/Duckor MS67. There are now two MS68 specimens. Can I safely say the other coin is an upgraded Akers/Duckor specimen? Even If the coin cannot claim to be the finest, as stated just five months ago by legend: This is the SINGLE FINEST 1850 gold dollar that survives, the ultimate in grade, eye appeal, and with the Eliasberg name, the ultimate in pedigree! The coin is without question, tied for the finest!
The coin was offered for the second time in 2020. This time Mr. Hansen did not flinch in pulling the trigger. The coin was offered in GreatCollections Auction last Sunday night, October 25th. The coin had an open bid of $81,500 and Mr. Hansen won the coin on one unchallenged bid. The final cost with buyer’s fee was $91.687.50. This is a new auction record, but I don’t think PCGS will recognize it for setting the new mark. The coin replaces PCGS Condition Census 1850 G$1 MS66+ Certification #39265141, POP 2/3. The new CAC Approved Eliasberg/Hansen coin is a great update. I hope you agree.
Provenance: George Crawford Collection, (Charles Steigerwalt 1894); Matthew A. Stickney Collection, (Henry Chapman, 1907), John H. Clapp Collection; Clapp sold intact in 1942 to Louis E. Eliasberg; Louis E. Eliasberg, Sr. Collection, (Bowers & Ruddy 10/27/1982), Lot 6, realized $11,000, purchased by Fred Weinberg; Fontaine Collection, (Bowers & Merena 8/2010), lot 1430, realized $54,625; Victoria Rose, (Heritage 1/2013), lot 5775, realized $55,812.50; The HFW² Collection, (Heritage 1/2020), lot 4312, realized $88,125; (GreatCollections 10/2020), Item 895332, realized $91,687.50, purchased by D.L. Hansen Collection
In my last Liberty Gold Dollar Update, the featured coin was the 1861-D Gold Dollar, MS64+, Duke Creek/Simpson specimen from the Bob Simpson sale offered by Heritage Auctions. This update does not reach that altitude, although it is a great upgrade to the little shiny coins. The D. L. Hansen Collection of One Dollar Gold is probably the best ever assembled, according to the PCGS registry. The circulation strikes have surpassed collections assembled by Harry W. Bass, Louis Eliasberg, Smithsonian, J.S. Morgan, Norweb Family, J.J. Pittman, Steven Duckor, and more. Many of these collections did not even reach 100% complete. If you consider the proof coins, the Collection ranking is also at the top. The Hansen Set tops sets assembled by Ed Trompeter, Garrett Collection, and not mention names like Bass and Eliasberg from the first list.
The PCGS One Dollar Gold Basic, Circulation Strikes (1849-1889) registry set consists of 76 coins. The set is described as: This long-lived series is composed of three different types and includes rarities from such romantic Mints as Dahlonega, Charlotte, and New Orleans as well as San Francisco and Philadelphia. These small coins are rich in history, and many issues were minted in extremely small quantities. Some of the low-mintage dates were hoarded in Gem condition, most notably those of 1879-89, while others are unknown in Mint State 65 or better. This is another series that is filled with rarities, but it makes a magnificent set when completed. The set has 46 coins (60%) PCGS certified MS65 (GEM) or better. There are 23 coins finest certified by PCGS with ten coins graded POP 1/0. The lowest grade in the set is a pair of AU53 Dahlonega gold dollars (1855-D and 1856-D). The new coin is a MS68 specimen. Does it get any better?
1850 Gold One Dollar MS68, CAC Approved, Ex: Eliasberg
I asked does it get any better. Well, the answer is yes, when the coin is a MS68 with an Eliasberg Pedigree. This coin is one of the highlights from the Louis Eliasberg #3 All-Time PCGS Set of One Dollar Gold. The set is described as: The Eliasberg gold dollar collection was complete as a basic set. It did not include the ultra-rare 1849-C Open Wreath variety. Like other Eliasberg sets, his gold dollar set was a mix of proofs and circulation strikes, as was the collecting custom prior to the 1980s. The Eliasberg circulation strike Gold Dollars featured many high quality examples and all the rare branch mints. Highlights include the spectacular 1850 in MS67 which caused quite a stir at the Eliasberg sale when it brought a then eye popping $11,000. As stated here, when the Eliasberg coins were sold in October 1982, the new Hansen specimen was graded MS67 and realized $11,000. The history of the coin according to Eliasberg: He purchased the coin when he acquired the John Clapp collection in 1942, earlier from the George Crawford collection, auctioned by Charles Steigerwalt in 1894. The coin as purchased at the Bowers & Ruddy Oct '82 Eliasberg sale by Fred Weinberg. Legend Auctions commented: In the 1982 Bowers and Ruddy Sale of the United States Gold Coin Collection (Eliasberg), this coin appeared as lot 6, where the cataloger clearly describes this coin as being a possible "presentation striking." Regardless, today, it rates as one of the absolute FINEST Type One gold dollars of any date, and has a look that will delight any serious gold collector.
I am not sure I would describe the coin as a presentation strike, but it does have a unique appearance. Look for yourself. The coin’s appearance was described on May 14th of this year in the Legend - Regency 38 Auction. In the auction, the coin was described as: Virtually perfect in every way, this coin is a delight to behold. The bold, brilliance of the wonderful golden luster booms all over. Both sides offer the sharpest striking definition, the die polish lines clearly visible in the fields. The devices are thickly frosted, while the surfaces have a rich, satiny glow that has touches of Prooflike flash in the obverse fields. Every detail is razor sharp, a masterpiece survivor of this early Type One gold dollar. The coin realized $88,125, an auction record.
According to Legend, In SUPERB grade, the 1850 is virtually unobtainable; indeed the grading service populations combined in MS67 through MS68 represents a total of FOUR COINS, this coin accounts for three of them! The only other example is the Akers/Duckor MS67. There are now two MS68 specimens. Can I safely say the other coin is an upgraded Akers/Duckor specimen? Even If the coin cannot claim to be the finest, as stated just five months ago by legend: This is the SINGLE FINEST 1850 gold dollar that survives, the ultimate in grade, eye appeal, and with the Eliasberg name, the ultimate in pedigree! The coin is without question, tied for the finest!
The coin was offered for the second time in 2020. This time Mr. Hansen did not flinch in pulling the trigger. The coin was offered in GreatCollections Auction last Sunday night, October 25th. The coin had an open bid of $81,500 and Mr. Hansen won the coin on one unchallenged bid. The final cost with buyer’s fee was $91.687.50. This is a new auction record, but I don’t think PCGS will recognize it for setting the new mark. The coin replaces PCGS Condition Census 1850 G$1 MS66+ Certification #39265141, POP 2/3. The new CAC Approved Eliasberg/Hansen coin is a great update. I hope you agree.
Provenance: George Crawford Collection, (Charles Steigerwalt 1894); Matthew A. Stickney Collection, (Henry Chapman, 1907), John H. Clapp Collection; Clapp sold intact in 1942 to Louis E. Eliasberg; Louis E. Eliasberg, Sr. Collection, (Bowers & Ruddy 10/27/1982), Lot 6, realized $11,000, purchased by Fred Weinberg; Fontaine Collection, (Bowers & Merena 8/2010), lot 1430, realized $54,625; Victoria Rose, (Heritage 1/2013), lot 5775, realized $55,812.50; The HFW² Collection, (Heritage 1/2020), lot 4312, realized $88,125; (GreatCollections 10/2020), Item 895332, realized $91,687.50, purchased by D.L. Hansen Collection
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Hi Clint,
I really like to look of the table, clear and precise. Is there a reason you did not include the seller/consignor? This is important information. I see you have is embedded in venue for Eliasberg.
Side note: I wonder if the coin broke two figures in the George Crawford sale.
I agree - the table I constructed is not complete.
The consignor / collection name can often be interesting for high end coins.
I made the table similar to the ones I make in the LS half dime guide,
where the coins are often not high end, and there is limited page width.
This update is about the little silver pieces. Ron Guth described these little coins as: The United States Three Cents is an unusual denomination that first appeared in 1851, although pattern coins for the denomination were produced in 1849 and 1850. The original purpose of the Three Cents coins to provide an intermediate denomination between the Cent and Half Dime, making it easier to change some of the odd foreign coins that were legal tender in America at that time. In 1851, postal rates were dropped from five to three cents. While three Large Cents could have been used to purchase a postage stamp, the bulky copper coins were expensive to produce. Thus, a coin of three cents value had two purposes, enough to get the denomination started in 1851.
They were produce in proofs, starting with the rare 1851. Mr. Hansen purchased PCGS Hall of Fame Legend Collection Proof Set assembled by Laura Sperber. The Three Cent Silvers with Major Varieties and 1851, Proof (1851-1873) set achieved the Hall of Fame honor in 2016. PCGS describes the set as: The Legend Collection of With Varieties “Trimes” is the finest collection ever assembled and, with the inclusion of the unique Proof 1851, the only set that can ever make that claim. In terms of weighted GPA, the Legend collection is a full 2.5 points ahead of its nearest competitor, an insurmountable obstacle until this collection is ever sold or broken up. There are so many wonderful things going for this set – virtually all of the coins are Top Pops and thirteen of the coins are unique Top Pops. The colorful toning and exceptional eye appeal of so many of the coins is remarkable.
Since the purchase, Hansen has improved five coins with today’s update. The four previous upgrades are as follows:
1858 3CS PR67 Certification #25254315, POP 3/0, replaces Sperber’s POP 1/5
1870 3CS, CAM PR68CAM Certification #30773746, POP 1/0, replaces Sperber’s POP 1/2
1872 3CS PR68+ Certification #30773748, POP 1/0, replaces Sperber’s POP 2/1
1873 3CS, CAM PR67+ CAM Certification #30773749, POP 1/0, replaces Sperber’s POP 4/2
This is another PCGS POP 1/0 specimen added to the 20 coins set / 23 coin varieties. With this update, the set has 11 PCGS POP 1/0 coins, and six others tied as finest PCGS grade specimens. There are two additional PCGS Condition Census Top Five. One coin is not a Condition Census, 1867 PR66+ Finest graded DCAM. There are 15 proofs, including seven CAM that are graded higher. The basic set is open for viewing, take a look at this set for yourself.
The coin was recently offered by Numismatic Financial Corporation (NFC) Coins. The coin was described as Finest PR CAM of any Date! I believe the coin to be the finest period! According the PCGS POP Report, there is one PR68+ graded coin, the Hansen 1872 PR68+, Certification #30773748 that I mention above in the update list. He now adds the second and only other PR68+ graded Three Cent Silver, the 1864 PR68+ CAM.
The coin was described by NFC Coins as: Magnificent Ultra Gem Proof with amazing technical quality and appeal! Fully impressed, satin-textured devices against pronounced reflectivity in the fields. Intense electric blue and red-violet hues surround the rose-gold toning of the central obverse. The reverse displays a beautiful peacock blue over the denomination with subtle citrus pastels peripherally. Produced during the penultimate year of the Civil War, the 1864 silver three-cent piece emerged during a time when silver coinage was no longer found in circulation in the Eastern and Midwestern United States. Such pieces had disappeared from commercial channels in the spring of 1862. The circulation strike mintage for this issue amounted to a mere 12,000 pieces. Even common date silver three-cent pieces such as the 1851, 1852 and 1853 are notable condition rarities when offered in the finest Mint State grades. To encounter a Superb Gem survivor of a scarce, low mintage issue such as the 1864 is even more remarkable. Deserving of a place in an advanced PCGS Registry Set. PCGS Population: 1; none finer. The sole finest Cameo Proof 3CS certified by PCGS. I guess we can call the Hansen set of Three Cent Silver as an advance set.
I cannot find any additional info on this great coin other than, it was offered around September 25th by NFC Coins with ask of $90,000. The PCGS value for the coin is $75,000. The finest coin sold in auction was an 1864 PCGS PR67+ CAM CAC sold by Legend’s Auctions, May 2018. The coin realized an action record of $31,725. I am not sure what Hansen’s coin would realize in auction, but certainly would set a new record. There is no additional provenance known on this specimen.
1864 Three Cent Silver, PR68+ CAM Sole finest Cameo Proof 3CS certified by PCGS Certification #37372987, PCGS #83714 PCGSGV: $90,000 / Ask $75,000
It's amazing that the four coins you mention are all CAC. Hard to believe there are were four CAC coins better than the examples in the Legend set that DLH purchased. Nice additions! Sadly the 1864 is not CAC making it a probable 67, and the only coin in the set that is not CAC. Amazing looking coin though! Nice set!
The last discussion on proof quarters was the Seated Liberty Proof Quarters set, (1838-1857) back in the July timeframe. The specimen in this update predates that set and is an early proof quarter. The coin does not meet many of my criteria for providing an update. First, the specimen is not a six figure coin. It is not a top pop coin, although it is a condition census. The coin does not have a rich history that I can trace. The coin does not make a significant impact to main set, Early Quarters Basic Set, Proof (1820-1838). According Hansen’s close set, there are three coins listed. The coin was purchased months ago, and the set has not been updated. This is really a hard set and PCGS describes as: No matter how you slice it, this set is tough. No coin in the set is priced below $55,000 in Proof 64. PCGS has graded just 58 coins and several dates have had only 1 or 2 graded. Completion of this set could be a life-long quest.
Well, why I am providing this coin as update? As PCGS describes “no matter how you slice it” an early quarter is tough. Besides that, the coin is eye catching and rare. The mintage for an 1834 Proof Quarter Dollar is 10. I believe the Finest Known coin to be the PR67CAM PCGS graded Green/Pogue specimen that realized auction record of $329,000 in 2015 Stack’s/Bowers & Sotheby’s. I don’t have roster of the known coins. If the finest is the Pogue, the next finest may be the thePR66+ from the Eric P. Newman Collection. There could be a couple more in comparable condition. This new Hansen Pop 2/3 is a nice coin, so let’s take a closer look.
1834 Proof Quarter Dollar PR64+
The known specimens were described in detail in the Pogue sale: Two proof 1834 B-2 quarters are pedigreed to "Col." E.H.R. Green and Eric P. Newman -- the present coin, and another that Newman donated to Washington University in St. Louis (circa 1952-4). The Washington University coin was then sold to New Netherlands Coin Co. in New York, and later into the Norweb Collection. A third example exists in the National Numismatic Collection at the Smithsonian Institution. The fourth example is part of the "King of Siam Set," about which Newman and Kenneth E. Bressett wrote in The Fantastic 1804 Dollar (1962). With one example in the Smithsonian Institution and another part of the King of Siam Set, only two of the four 1834 proof coins known are individually available to collectors -- the present "Col." Green-Newman example and the Green-Newman-Norweb coin, graded PR67 NGC. This Newman Collection coin, graded PR66+ ★ with the added Ultra Cameo designation, is the only proof 1834 B-2 with either the Cameo or Ultra Cameo designation, although it is rated one point behind the PR67 NGC non-Cameo coin cited above. It is our opinion that, because of the Ultra Cameo appearance, this coin has the most eye appeal of the four examples known. This Newman specimen is also the plate coin in Early Quarter Dollars of the United States Mint, page 262. On the facing page a wonderful photo and caption appear, of the coin "resting on the photo box just before turning on any camera lights." Rea added, "Nice Cameo look!"
In addition, this synopsis was provided by StacksBowers: A total of 286,000 quarters were minted for circulation in this calendar year, but only a tiny handful were struck as proofs. Walter Breen's Complete Encyclopedia states that "at least six proofs" exist for the 1834 B-2, B-3, B-4, and B-5 die marriages, adding "2 proofs seen" for the 1834 B-1 quarter. Rory R. Rea, Dr. Glenn Peterson, Bradley S. Karoleff, and John J. Kovach Jr., authors of Early Quarter Dollars of the United States Mint 1796-1838, cite four specimens of the 1834 B-2 in proof, but they enumerate no proof examples for any of the other 1834 varieties.
As for PCGS graded, there is one proof coin graded finer, a PR65. This does not include the two CAM specimens, which brings the POP to 2/3. I don’t know any history on Hansen coin. If someone can trace, that would be great. It was purchased in a David Lawrence Auction. The coin was described as: Rare Issue, Gorgeous Toning In the July 19, 2020 auction, the coin was detailed as: One of less than a dozen known examples! This fully struck near gem proof has stunning eye appeal. Beautiful reflective surfaces, especially on the reverse, and amazing toning presented in a target of gold, blue-green, violet, and rose shades on both sides. A rare and exciting opportunity for the specialist. PCGS+ grade for premium quality at the top of end of the assigned grade. The coin realized $62,000.
It will be interesting to watch and see if Mr. Hansen is starting to focus more on Early Proof Quarter Dollars. This would be a cool set to complete. Dr. Charles Link is well on the way with his set, 11 out of 16 coins (68.75%). Even J.J. Pittman only completed 50% of his collection of Early Proof Quarter Dollars. According to PCGS, Completion of this set could be a life-long quest.
1834 Proof Quarter Dollar PR64+ PCGS POP 2/3 Certification #39328351, PCGS #5382 PCGS Value Guide: $60,000 / realized $62,000
@tradedollarnut said:
That depends on why it didn’t sticker. Doctored? Pass. Fill your collection with doctored 1/0s and you lose all respect
UM, YEP!
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What's this alt talking about? Is that little dot a sign of doctoring?
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I am not sure how this coin relates to the Hansen discussion. I don’t think this coin is in The Collection. Or is it? Please me know the connection and reason for posting.. thanks
This is Hansen’s top coin. The Coin realized $38,525 in a 2005 StacksBowers Auction. The NGC coin realized $164,500.00 in Legend Auction a couple months ago.
1883 Trade Dollar. Proof-67+ Cameo (PCGS). CAC, PCGS POP 2/0
@tradedollarnut said:
That depends on why it didn’t sticker. Doctored? Pass. Fill your collection with doctored 1/0s and you lose all respect
UM, YEP!
.
What's this alt talking about? Is that little dot a sign of doctoring?
.
.
I am not sure how this coin relates to the Hansen discussion. I don’t think this coin is in The Collection. Or is it? Please me know the connection and reason for posting.. thanks
This is Hansen’s top coin. The Coin realized $38,525 in a 2005 StacksBowers Auction. The NGC coin realized $164,500.00 in Legend Auction a couple months ago.
1883 Trade Dollar. Proof-67+ Cameo (PCGS). CAC, PCGS POP 2/0
I started this Countdown in mid-April as the “Season Three Opener” that marked the third anniversary of the Hansen watch tread. The countdown started with 40 coins (last two boxes required for Mayor Varieties CS). After just a little more than six months, the list has dwindled down to 21 left. For the Major Varieties, the final destination will be 2 remaining. There are two uncollectable coins in the National Collection that are not obtainable. To reach this destination of only two left, two or three very difficult roadblocks are still in the way. First being the 1849-C Gold Dollar "Open Wreath", this will not be an easy coin to obtain. There are only two in PCGS holders, an AU58 and the finest known, Richmond PCGS MS62. The 1804 Eagle "Plain 4 Proof" by most accounts, only three are known. One of them is in the Harry W. Bass, Jr. Foundation Collection currently on loan to the Money Museum at the American Numismatic Association. Another one is the strong hands of the Tyrant. The third coin (Simpson Specimen) may be interesting to watch at the FUN Show in a couple months. Will Mr. Hansen pop for a Five Million Dollar coin? If he does, the next biggest roadblock could be the 1861 Double Eagle "Paquet" with two known. The 1861-S “Paquet” is already in The Collection, it sure would be nice to pair that coin up with one of the two 1861 Philadelphia “Paquet” Specimens.
The PCGS Registry Set is a massive 3260 group of coins. To complete, this set would require the 2821 basic coins plus an additional 439 Major Varieties Coins. With this addition, there are 21 remaining coins in this quest. The Top 10 coins are ultra-rarities which the most common #10 coin has a survival est. of 11 coins w/ AU Finest Known. The top two coins are unique for known specimens, and both are permanently in Smithsonian, therefore uncollectable. The other eight is “technically collectable”, but that does not guarantee that Mr. Hansen will have an opportunity purchase all of them. Only time will tell.
PCGS described the set as: Every classic U.S. coin in Circulation Strike from 1792 through 1964, every date, every Mintmark, every major variety, this set is the ultimate challenge. A collection of this size could take decades to assemble in high grade. As we know, Mr. Hansen has been actively assembling his collection for about four years. He has made a lot of progress being he is already half way through the countdown phase of the majority varieties. The 1840-D “Small D” half eagle is coin #3236/3260 and has only three quest and 21 major varieties coins remaining to complete thus tough set.
1840-D Liberty Head Half Eagle “Small D”, AU53
This coin is considered a Major Variety, but it is not all that major in price. There is one low uncirculated grade MS61 NGC that holds the Auction Record realizing $14,100 from a Heritage Auctions’ 2013 US Coins Signature Auction held in Houston, TX. This specimen previously sold in a 2007 Goldberg Auction for $13,800. The Finest PCGS certified coins are a pair of AU55s. NGC POP report does not separate the “Small D” from the basic population. I am not sure we can assume the auction record MS61 from The Ole Miner's Collection is the finest known.
In the PCGS POP report, the new Hansen coin has a POP of 2/2. More importantly, this is next to last Liberty Head Major Varieties specimen need to be acquired. The last one is the 1861 Double Eagle "Paquet" that I mention earlier. What a great accomplishment it would be to complete a Liberty Head Gold set with Major Varieties. Will it be done? The 1840-D Liberty Head Half Eagle “Small D” was required even if the coin is not that significant in the grand scheme of things with the D.L. Hansen Collection.
Expert Doug Winter describes this coin as: In 1840, the design of the half eagle was modified. The new head has a neck that is less curved and positioned slightly differently than the head of 1839. In addition, the mintmark was placed on the reverse, where it would stay on all regular issue United States gold coins struck through 1933. Thus the 1840-D is an important issue as it is the first Dahlonega half eagle with the modified Liberty Head design. The 1840-D half eagle is most often seen in Very Fine to Extremely Fine grades. It is scarce in the lower About Uncirculated grades and rare in the upper range of this grade. It is extremely rare in Uncirculated. This is a difficult issue to find with good eye appeal. Most 1840-D half eagles are heavily marked and most have their original surfaces stripped-off from repeated cleanings. Any example which has good eye appeal routinely sells for a strong premium over a typical coin. To be a AU53, I believe the coin has eye appeal. The coin has appeared twice in Auction and in both sales; the coin was presented as AU55 NGC.
Variety 4-C: Small D. The date is level in the field between the bust and the denticles. The upright of the 4 in the date is centered over a denticle. The first three digits show the remains of previously cut digits at the lower right. Most significant are the remains of an earlier 8 that run through the center of the lower loop of the 8 in the date and out the right side to the crossbar of the 4 in the date. The reverse has a Small D mintmark with a narrow opening that is about the same width as the upright of the mintmark. The upright of the mintmark is positioned over the gap between the inner serifs of the two diagonals of the V in FIVE. A die crack runs from the rim through the right diagonal of the V, through the right side of the mintmark, through the feather and branch stem and on into the shield. This variety appears to be rare. (Doug Winter)
The coin first appeared in Heritage’s 2008 Signature Coin Auction in Houston, TX. It was described as: Important 1840-D Small Mintmark Five, AU55. The coin was in an unattributed AU55 NGC holder and details included: Variety 4-C. Although infrequently discussed in the literature, there are two known mintmark varieties, either Small or Tall, for the 1840-D half eagles. NGC does not recognize the two mintmark sizes. The Small Mintmark variety is normally seen, like this piece, with a vertical die crack through its center. This example only has the crack visible to the lower shield border, although some are known with the same crack continuing to the upper reverse border. Light surface marks are evident on both sides, with attractive green-gold surfaces and traces of lighter yellow toning. The coin realized $6,325.
The next appearance is March 2018 in Kagin's ANA National Money Show Auction. In the same NGC holder from the 2008 sale, the coin was described as: Lustrous AU 1840-D Half Eagle 1840-D Half Eagle Winter 4-C. AU-55 NGC. The warm honey-gold surfaces of this attractive Dahlonega half eagle offer a decided olive glow throughout, while a trip to a light source reveals faint orange iridescence in the fields. Not as heavily abraded as this date is often seen, the present specimen presents no more than a smattering of tiny stray marks, few of which are available to the naked eye. Choice for the grade, and certain to entertain strong activity at bidding time. I think the description is very accurate. For AU53 gold, the coin is lustrous and abrasions are light. You may disagree, and that’s OK. In this offering, the coin realized $4,500.
There are no clues on how that coin was acquired for the Hansen Collection. I guess some resourceful coin dealer saw the coin was needed in that Hansen Collection found a AU55 NGC specimen, crossed it to PCGS and offered to Hansen. According to PCGS Price Guide, the PCGS AU53 specimen is valued as $7500. Even if Hansen paid less, there was still some meat on the bone.
This coin gets The Collection one step closer to completing the Major Varieties. It is a PCGS Condition TOP Five Specimen that I feel to be a nice addition to The Collection.
1840-D Liberty Head Half Eagle “Small D”, AU53 PCGS, POP 2/2 (Die Variety) Certification #40525961, PCGS #8199 PCGSVG: $7500 / unknown
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. The Major Varieties Set is an expansion of the PCGS Basic Set. To complete, this set would require the 2821 basic coins plus an additional 439 Major Varieties Coins. With this addition, there are 21 remaining coins in this quest. The first two coins are not collectable, so the completion of this set would be 99.94%. PCGS describes this set as: Every classic U.S. coin in Circulation Strike from 1792 through 1964, every date, every Mintmark, every major variety, this set is the ultimate challenge. A collection of this size could take decades to assemble in high grade.
Top 10
1797 Half Eagle "Large Eagle, 15 Stars" (1 Known – Permanently in Smithsonian) Uncollectable
1797 Half Eagle "Large Eagle, 16 Stars" (1 Known – Permanently in Smithsonian) Uncollectable
1861 Double Eagle "Paquet" (2 Known)
1804 Eagle "Plain 4 Proof" (3 Known)
1849-C Gold Dollar "Open Wreath" (4 Known w/ one defective)
1958 Small Cent "Doubled Die Obverse” (3 Known)
1795 Large Cent "Jefferson, Lettered Edge" (5 Known w/ VF Finest Known)
1810 Half Eagle "Large Date, Small 5" (5 Known w/ AU Finest Known)
1842 Half Dollar "Small Date, Rev of 1839" (Survival est. 10 w/ 1 Mint State)
1804 Quarter Eagle "13 Star Reverse" (Survival est. 11 w/ AU Finest Known)
Next 10
1797 Half Cent "Gripped Edge" (Survival est. 13 w/ VG Finest Known)
1797 Half Eagle "Small Eagle, 15 Stars" (Survival est. 20 w/ 1 Mint State)
1820 Half Eagle "Curl Base 2, Sm Letters" (Survival est. 14 w/ 8 Mint State)
1800 Dollar "Wide Date, Low 8, AMERICAI" (Survival est. 25 w/ AU Finest Known)
1798/7 Eagle "7X6 Stars" (Survival est. 25 w/ 3 Mint State)
1812/1 Half Dollar "Large 8" (Survival est. 35 w/ AU Finest Known)
1839 Half Dollar "Receeded Edge, Small Letters” (Survival est. 50 w/ 4 Mint State)
1798 Quarter Eagle "Wide Date" (Survival est. 50 w/ 8 Mint State)
1798 Dollar "Large Eagle, Knob 9, 4 Lines" (Survival est. 125 w/ 2 Mint State)
1795 Half Dollar "Small Head" (Survival est. 450 w/ 1 Mint State)
Last 1
1887/6 Three Cent CN (Survival est. 800 w/ 750 Mint State)
This is the second update to the Major Varieties – Countdown this weekend. Friday, I posted the 1840-D Liberty Head Half Eagle “Small D” variety. Today, we see an update to the Half Dollar Major Varieties. A few months ago, the half dollar countdown stalled at four coins remaining:
1795 Half Dollar "Small Head"
1812/1 Half Dollar "Large 8"
1839 Half Dollar "Receeded Edge, Small Letters”
1842 Half Dollar "Small Date, Rev of 1839"
I discussed in detail the ultra-rarities remaining. This is not one of them, but the coin is tough to find. The new update is certified as 1812/1 Overton 101, “Large 8” variety. PCGS placed the survival estimate around 35 coins for all grades. The PCGS POP report indicates 51 coins have been certified. This is conflicting information and more than likely, a few in the POP report have been sent in more than once. The finest certified by PCGS is a pair of AU55 specimens. As for auction appearances, six coins have been auctioned in the past twelve months. The grade range was VG8 to VF30, with one problem coin certified as XF Details. The coins realized $3360 to $10,800. The Hansen upgrade is one of the six coins; a VF30 that appeared in a StacksBowers Auction.
The facts for the 1812/1 Half Dollar "Large 8” variety was well described in a 2010 Heritage Auction: The obverse is the 1812/1 overdate with a large 8 in the date. The reverse has a stray serif at the bottom of the N in UNITED, described as recutting in Overton, but actually from an unidentified punch. Its location is incorrect for a recut N or an inverted N, unless the original punch was drastically out of position. The reverse die was also used for 1812 O-102, the Small Overdate variety. This early die state piece has no evidence of die cracks, clash marks, or other die anomalies on either side. Later states exist, identified as O-101a. The 1812/1 Large 8 ranks among the most important half dollar varieties in the Capped Bust series. In addition to its Low R.5 rating, with only about 60 to 80 examples surviving, it is also an important Guide Book variety that further increases the demand. In the 1970 second edition of Overton, the O-101 and O-101a die states were listed as R.7, meaning four to 12 pieces exist. As of today, PCGS has certified eight coins as 1812/1 “Overton 101 Large 8” variety, and nine coins as 1812/1 “Overton 101a Large 8” variety. With a total POP of 51, then by doing the math, there are 34 to be attributed to one of the two varieties.
1812/1 Capped Bust Half Dollar “Overton 101 Large 8”, VF30
This is not a census condition specimen for this tough variety, but still a very nice addition to the Capped Bust Half Dollar Collection. As stated by one of the Bust Half Dollar experts: Very tough variety to find nice. Looks like “Mr. Hansen” has a superb original example. I agree, it is nice for originality, but not the finest grade by PCGS standards. He added: Nice original examples are tough to come by and as you know they top out in AU55 grade. The finest example of this variety to appear in public, is an AU58 NGC that realized $14,100 in a 2013 StacksBowers Auction. The pair of PCGS AU55 specimens has never appeared in auction, but one did as an AU53. The auction record is for a PCGS AU53 coin that realized $43,125. It was from the Donald R. Frederick Collection that sold in Heritage’s 2010 CSNS US Coin Auction in Milwaukee, WI. I believed this record coin is now one of the two PCGS AU55 coins and is currently in Dr. Charles Link Collection.
The Hansen VF30 coin is from The E. Horatio Morgan Collection of Half Dollars. This collection was recently offered by public sale in StackBower’s September 2020 Collectors Choice Online Auction. The coin was described as: The Overton-101 dies correspond to the Large 8 Guide Book variety of the 1812/1 Capped Bust half dollar. Both the early and late die states are scarce in an absolute sense, the present coin an attractive mid grade example of the early die state O-101 attribution. A significant and desirable coin that is sure to sell for a strong bid. The coin realized $7,200. If you like to read more about the E. Horatio Morgan sale, there was a feature article in CoinWeek. The 1812/1 Capped Bust half dollar was a feature coin.
At this time, there is not much additional information known about this coin. I am not sure if the coin was purchased by Mr. Hansen in September Auction. Due to the two month delay in the update, I have my doubts. I would assume the coin was a post auction offer. With this addition, the Hansen Major Varieties Countdown is now just 20 coins (one blue box remaining). As 2020 is quickly approaching closeout, I am not sure if we will see more. With these to recent additions, it does lead me to believe the Major Varieties are now in focus. There are at least three Simson coins that are on the Hansen countdown lists. One is a six figure coin, and the other two are seven figures! Let’s watch and see what happens.
1812/1 Capped Bust Half Dollar “Overton 101 Large 8”, VF30 PCGS, POP 2/4 (Die Variety), POP 8/23 (Major Variety) Certification #39197111, PCGS #39441 PCGSVG: $12,000 / unknown
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. The Major Varieties Set is an expansion of the PCGS Basic Set. To complete, this set would require the 2821 basic coins plus an additional 439 Major Varieties Coins. With this addition, there are 20 remaining coins in this quest. The first two coins are not collectable, so the completion of this set would be 99.94%. PCGS describes this set as: Every classic U.S. coin in Circulation Strike from 1792 through 1964, every date, every Mintmark, every major variety, this set is the ultimate challenge. A collection of this size could take decades to assemble in high grade.
Top 10
1797 Half Eagle "Large Eagle, 15 Stars" (1 Known – Permanently in Smithsonian) Uncollectable
1797 Half Eagle "Large Eagle, 16 Stars" (1 Known – Permanently in Smithsonian) Uncollectable
1861 Double Eagle "Paquet" (2 Known)
1804 Eagle "Plain 4 Proof" (3 Known)
1849-C Gold Dollar "Open Wreath" (4 Known w/ one defective)
1958 Small Cent "Doubled Die Obverse” (3 Known)
1795 Large Cent "Jefferson, Lettered Edge" (5 Known w/ VF Finest Known)
1810 Half Eagle "Large Date, Small 5" (5 Known w/ AU Finest Known)
1842 Half Dollar "Small Date, Rev of 1839" (Survival est. 10 w/ 1 Mint State)
1804 Quarter Eagle "13 Star Reverse" (Survival est. 11 w/ AU Finest Known)
Next 5
1797 Half Cent "Gripped Edge" (Survival est. 13 w/ VG Finest Known)
1797 Half Eagle "Small Eagle, 15 Stars" (Survival est. 20 w/ 1 Mint State)
1820 Half Eagle "Curl Base 2, Sm Letters" (Survival est. 14 w/ 8 Mint State)
1800 Dollar "Wide Date, Low 8, AMERICAI" (Survival est. 25 w/ AU Finest Known)
1798/7 Eagle "7X6 Stars" (Survival est. 25 w/ 3 Mint State)
Last 5
1839 Half Dollar "Receeded Edge, Small Letters” (Survival est. 50 w/ 4 Mint State)
1798 Quarter Eagle "Wide Date" (Survival est. 50 w/ 8 Mint State)
1798 Dollar "Large Eagle, Knob 9, 4 Lines" (Survival est. 125 w/ 2 Mint State)
1795 Half Dollar "Small Head" (Survival est. 450 w/ 1 Mint State)
1887/6 Three Cent CN (Survival est. 800 w/ 750 Mint State)
Latest Upgrade from the BigMo Civil War Collection
This upgrade is for the year 1862. You may recall that Mr. Hansen purchased four 1862 circulating strike coins from the BigMo sale. All four of them were impressive PCGS POP 1/0 specimens! This coin was not purchased by Mr. Hansen in the sale, and I have concluded the reason because at that time the coin was not a PCGS POP 1/0 specimen. For the 1862 Half Dollar, The Hansen Collection had a very nice specimen. The 1862 MS66, Certification #06504652 specimen is currently a PCGS POP 4/1 CAC Approved specimen. At the time of the sale, the Hansen pedigreed coin was a PCGS POP 5/0 CAC Approved specimen. This is a case where I am not sure the Hansen duplicate is a common duplicate. The coin’s destiny was this collection until a coin was graded better a few months ago. You judge for yourself on the replaced coin. Thoughts?
There has been a lot of work on the 1862 date set. With this upgrade, there are now five PCGS POP 1/0 specimens that have been added to the #1 registry 1862 set from the BigMo Collection. I wonder if this is the greatest set of 1862 ever assembled. The PCGS Registry indicates, yes. PCGS describes the 1862 set as: As the war progressed, mintages and issues declined precipitously. The three Southern mints in Charlotte, Dahlonega and New Orleans were lost to the United States, so only two mints remained in operation – Philadelphia and San Francisco. The toughest coins in the Silver set will be the "S" mint Dime (MS65 POP 1/0 CAC Approved) and Quarter (MS64+ POP 1/0 CAC Approved) in high grade, and of course the Seated Dollar (MS65 POP 3/0 CAC Approved) is costly in top condition. The gold follows a familiar pattern, with all coins but the Gold Dollar (MS67 POP 7/4 CAC Approved) tough in high grade. The Half Eagles (POP 2/0 and POP 1/0) and Eagles (POP 2/0 and POP 2/2) in particular are virtually unknown in Mint State, with only a few pieces known. A small handful of $20s (POP 2/0 and POP 1/0) salvaged from the Brother Jonathan and Republic shipwrecks are known.
In the 20 coin 1862 set, ten are non-gold. These ten are not just good, they are real good. For example with this update, a PCGS Pop 4/1 specimen is replaced, which is just a minor improvement. The grade range is MS64+ to MS68. Five of the coins (50%) are PCGS POP 1/0 specimens! There are two others that are tied for finest certified by PCGS (70%). The final three are Conditional Census TOP Five (100%). The highest POP coin is the 1862 Small Cent MS67, POP 11/4. I would not be surprised at some point to see another upgrade.
There are also ten gold coins in the 1862 set. The grade range is AU58 to MS67. Three of the coins (30%) are PCGS POP 1/0 specimens! There are two others that are tied for finest certified by PCGS (50%). The four of the five final coins are Conditional Census TOP Five (90%). The highest POP coin and only non-condition census specimen is the 1862 $2.50 MS63 POP 13/6. The single FINEST graded by PCGS and tied with just a single MS64+ at NGC is being offered in the BigMo Part 2 sale in a couple weeks. It is very possible this 20 piece set could be all Condition Cenus before the clock strikes midnight on December 3rd. Either way, this is a very nice set of gold.
1862 50C MS66+, CAC Approved, EX: Gardner/BigMo
Our Expert Ron Guth described this coin as: Despite a relatively low mintage, the 1862 Half Dollar can be found in nice condition with relative ease. This is refelcted in the PCGS CoinFacts Condition Census, where the lowest grade among the best Top Ten coins is MS65 and the top examples are four PCGS MS66s. The new Hansen coin is one of the four MS66s and first appeared in The Eugene H. Gardner sale hosted by Heritage. The coin was described as: Satiny surfaces radiate soft mint luster and considerable eye appeal. The toning is rich and comprehensive, with lively amber-gold color intermingled with sky-blue accents and lilac overtones. The strike is full on the figure of Liberty and the surrounding stars, while the reverse is bold except for minor blending on the eagle's left (facing) leg and talons. Few marks are seen anywhere on the smooth and attractive surfaces. In this 2015 sale, the coin realized $18,800. This falls short of the auction record for the date. There are two NGC MS67 specimens. One of the NGC MS67 specimens holds the auction record of $28,200 in a 2013 Heritage sale. PCGS has not placed a value on the newly graded MS66+ coin. With the value for a MS66 given as $17,500, what will the value be for a MS66+, CAC?
As stated before, the coin was offered in the BigMo Civil War Collection, Part 1 Sale hosted by Legends Auctions on 7/16/2020. The coin was listed as a PCGS MS66, CAC with catalog description: This coin was the last 1862 PCGS MS66 CAC piece to sell in any major auction, when it brought $18,800 in May 2015. Let us say that again; $18,800 back in May 2015. It's 2020 now and NONE have sold via auction since. That is a powerful statement as to the rarity of this date and grade. A side note: this coin was sold way back in 2001 to Gene Gardner from our sister company Legend Numismatics; 19 years this coin pretty much has been off the market, impounded in the Gardner then BigMo Collections! Good luck!
I don’t think Mr. Hansen was interested in the coin due to having a MS66, CAC specimen in his collection. There was no hint the coin was an upgrading candidate, and was described by Legend Rare Coin Auctions as: No question this is a delicious VERY HIGH END GEM. 158 years old and it looks as good as ever! Tied for FINEST graded at PCGS, this SUPERB example is a very special Civil War era numismatic relic. Immaculate surfaces have fewer lines and ticks than the old green tag holder in which it resides. There is a generous amount of satiny luster that softly glows under the iridescent toning. Both sides have a thicker, yet even mix of totally original reddish gold, honey gold, forest green, blue, and pale purple colors. Miss Liberty and the details are exceptionally struck. The eye appeal is superb!
Legend RCA estimated the range on to coin from $17,500 to $20,000. It does not appear anyone but the buyer saw the potential in this coin. The coin underachieved realizing only $15,275 in the Legend sale. Someone saw potential in the coin and sent it to PCGS for upgrading. The coin came back with a MS66+, and now in the D.L. Hansen Collection as PCGS POP 1/0 specimen. Very nice upgrade and a nice pedigree.
1862 Half Dollar MS66+, CAC, Ex: Gardner/BigMo PCGS POP 1/0, CAC Approved Certification #07454710, PCGS #6307 PCGS Value Guide: Unknown / realized Unknown Provenance: Purchased directly from Legend Numismatics (1/2001) by Eugene Gardner; The Eugene H. Gardner Collection, (Heritage 5/2015), lot 98479, realized $18,800; The BigMo Civil War Collection, (Legend 7/2020), lot #28, realized $15,275; The D.L. Hansen Collection (11/2020)
With several big auctions coming up quickly, I think we will soon see several big coins. This is a little one that I want to get in before all the action starts. I posted a pretty good write-up for the Proof Silver Three Cent set a few days ago. This is an update to the mint state set. PCGS describe the coin set as: This is our smallest coin. It's also the only one struck in 75% silver (that's the "type one" of 1851-53 only). There are lots of tiny mintages in the series, many condition rarities, three different types and a lot of history. Why does the set stop in 1872? Because the 1873 is a "Proof-only" issue with no circulation strikes being issued. One more bit of trivia: Only one date in the series has a mintmark. Can you name the date and Mint?
The D.L. Hansen Collection of Silver Three Cents ranks #2 in the PCGS registry. The set consist of 23 coins. The overall rating for the set is 66.66 with bonuses. It is trailing the number one set by only 0.05 points. This is not a set like many of Hansen’s sets that are bumping their head on the set grade ceiling. The maximum possible is 69.49, so as you can see, there is plenty of room. With this new upgrade, the set now has five coins tied for finest certified at PCGS. Unusually, there are no POP 1/0 specimens in the set. According to PCGS report, there are 15 POP 1/0 PCGS certified specimens (out of 23). So where are they? They certainly are not in the registry. Is there a super unpublished set? Are they just part of a bank vault high grade collection somewhere? Are they dispersed among 15 collections? The fact that I know for certain, there are none in any of the top registry sets.
The Hansen set is graded from MS64 to MS68. This new upgrade is the second MS68 coin, with none grading higher. There are eight coins that are not PCGS Condition Conus Top Five. This presents a lot of opportunities for upgrading.
1852 Three Cent Silver, MS68, Ex: Simpson
Expert Ron Guth comments: The 1852 Three Cents Silver boasts the highest mintage of the entire series. In fact, its mintage of 18,663,500 coins is more than seven million coins higher than the nearest contenders (1853 and 1865). As might be expected, this is a common coin in just about every grade. To be sure, it has the highest overall certified population of any date in the series (per the PCGS Population Report as of October 2011). The most common Mint State grade is MS-64, followed by MS-63 (with a nearly identical population figure). Above MS-65, the population drops sharply, especially in MS-67. The finest examples certified by PCGS are a pair of MS-68s.
This is a post Simpson sale buy. We see post auction buys frequently for this collection. I think the reason for many coins like this is that Mr. Hansen posts Max Bids. I think this happens for many of the coins that can “improve” his sets and the coins have an equal of better appearance. This may be one of the coins that he placed an early bid, but never went back and adjusted. In Heritage’s 2020 sale of selections from The Bob R. Simpson Collection, Part I, the coin was described as: The Type One three cent silver pieces was only produced from 1851 to 1853. The three Philadelphia issues are generally plentiful in high grade, but they are each individually scarce in MS67. However, the only Type One issue known in MS68 is the 1852. This piece is one of just two MS68 coins listed at PCGS, making it not only a Condition Census 1852, but a Condition Census Type One. NGC list one other piece in this grade. The quality is simply incredible, boasting flawless, frosty mint luster with boldly rendered design elements. Flecks of russet toning grace the borders, leaving the interiors with a delicate champagne tint. Eye appeal is outstanding. This is one of the most important Type One three cent silvers in existence, and it represents an unequaled opportunity for the Registry collector type coin specialist.
In the Heritage Sale, they do not list a pedigree earlier than Bob Simpson. In PCGS Pedigree and History Information, they indicate the Simpson coin is from Knoxville Collection, and one time owned by Jay Parrino (The Mint). The auction record for an 1852 Three Cent Silver is $17,625. This was realized in Heritage’s 2016 FUN US Coins Signature Auction in Tampa. The coin was a MS68 NGC and was not listed with any pedigree.
As I indicated, Mr. Hansen did not purchase the coin in the Bob Simson sale. It was offered for sale in mid-October on Pinnacle Rarities website. It is very interesting there was no mention of Bob Simpson or any pedigree in the description. Is that the choice of some coin dealers? The coin was described as: This piece is one of just two MS68 coins listed at PCGS, and it not only a Condition Census 1852, but a Condition Census Type One, as the 1852 is the only Type One issue known in this exalted grade. (NGC list one other piece in this grade.) Incredibly preserved surfaces display frosty mint luster and crisply executed devices. Hints of russet and a sky blue patina adorn the peripheries of both obverse and reverse while the central elements are a delicate champagne hue. Outstanding quality and eye appeal. An important opportunity for the Trime specialist and the advanced type collector alike. The ask for the coin was $19,500.
As discussed a few weeks ago, The D.L. Hansen Collection of Proof Three Cent Silver is what I think to be the finest graded set to ever be assembled. There is a lot of room for the mint state coins to improve if the high end coins become available and the series becomes more significant on Mr. Hansen priority list. It appear the Hansen set will become top set in the registry shortly, but to dominate with a majority of the fifteen PCGS POP 1/0 specimens shows no signs of happening after four years of building the collection. This was a great belated upgrade, now let’s watch and see what’s happens next.
Provenance: Knoxville Collection; Jay Parrino (The Mint); Bob R. Simpson Collection, (Heritage 9/2020), lot #10017, realized $16,200; Purchased from Pinnacle Rarities, (10/2020), D.L. Hansen Collection
1852 Three Cent Silver, MS68 Tied for Finest Certified, No Type One Coin is Finer Certification #40322945, PCGS #3666 PCGSGV: $25,000 / Ask $19,500 Ex: Knoxville/Simpson
Upgrades from the Larry H. Miller Morgan Dollar Auction – Part 1
This is first of the big November/December 2020 Auctions. Can it start any better than with StacksBowers November 2020 Session of the sale of The Larry H. Miller Collection Morgan Dollars? The Morgan Dollars in this collection were amazing. Just watch for the next few days, and you will agree. It would be very interesting to see how the set would have ranked in the PCGS registry. Being the set was mixed with PCGS and NGC coins, then we will never know. As advertised in the November/December Rare Coin Market Review.
Of the 1600 coins in the collection, there were 107 Morgan Dollars sold. Two of the coins were proofs, the 1895 Proof-67, Cameo (NGC), CAC, realizing $132,000. The other proof was the 1921 Zerbe Special Strike, Proof-65 (NGC), CAC, realizing $15,600. Of the 107 Morgan Dollars sold, 22 lots were NGC certified. The only six figures NGC mint state coin sold was the 1889-CC, MS-65 PL (NGC), realizing $324,000. The bulk of the Morgans sold were PCGS certified (85 coins). The top ten Morgan coins realized $336,000 to $780,000. The first coin that I will discuss is one of the four from November/December Rare Coin Market Review ad. It is described as Amazing Deep Mirror Prooflike Superb Gem 1895-S Dollar
As amazing as the coin is, it rank as #10 price realized on the coins sold. There were nine other Morgans that realized more! This is the coin that Mr. Hansen really went for in the collection. I not sure who he was bidding against, but someone wanted this coin just as bad as Mr. Hansen wanted it. PCGS values the coin at $200,000, and Mr. Hansen won the coin at $336,000. I will say the coin has not sold in 15 years, so obviously the value provided by PCGS was not true. Let’s discuss the 1895-S Dollar.
1895-S Morgan Dollar MS67DMPL, Ex: Jack Lee, CAC Approved
The following is an edited version authored by Q. David Bowers from my "Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia" (Wolfeboro, NH: Bowers and Merena Galleries, Inc., 1993): Examples of 1895-S filtered out of the San Francisco Mint over a long period of years in the normal course of business. Around the year 1900 there was a flurry of interest in 1894-O, 1894-S, 1895-O, and 1895-S silver dollars, and a few specimens were sold for several dollars each. The interest soon faded, and Uncirculated pieces could be obtained for less than $2 apiece. Pieces have always been available at a price. A few bags of 1895-S dollars were released by the San Francisco Mint in 1942, much to the delight of Bay Area numismatists. From that time through the very early 1950s, more bags were paid out, but then the distribution stopped. By 1953-1955, 1895-S dollars were considered to be rare. John Skubis recalled that K.O. Cunningham, of Nevada, offered a bag for $5,000 to $6,000 around this time, but John did not buy it, for he was fearful that a lot more would be released at face value. Indeed, some additional coins were released, but most went to casinos or the public-rather than to dealers.
He described: Prooflike coins are scarce, but among the few top grade Mint State 1895-S dollars, quite a few are prooflike. When seen, they usually are in lower grades, have low contrast, and are not particularly attractive. DMPL coins are about twice as scarce as PL. As of September 1992, NGC and PCGS certified 42 PL (all but one below MS-65) and 21 DMPL (none MS-65 or better). The alleged "Proof' in Mehl's C.W. Cowell sale (Nov. 11, 1911), at $2, was probably a DMPL. On the other hand, one or more of the following may have been the real McCoy: 1) John Zug, advertised in The Numismatist December 1934, at $5, was priced above the 1895 ($4.50) and all other Philadelphia Proofs. 2) William Cutler Atwater (Mehl,June 11,1946), $ 15.75-above all Philadelphia Proofs except 1878 8 Tailfeathers, 1895, and 1903. 3) Bolender's 183rd Sale (Feb. 23, 1952), "extremely rare," $90-above all Philadelphia Proofs except 1895. 4) "Anderson Dupont" (Stack's, Nov. 11-13, 1954), $32.50, exceeded only by 1891 and 1895. As you can see, some of these comments are outdated because this coin a MS67DMPL.
On the most recent POP Report, this coin and one other is graded GEM, a MS66DMPL, Ex: Hansen. Yes, Mr. Hansen now has both coins in The Collections. There are no MS65DMPL Specimens. In the sale of the MS66DMPL in 2015, Legend Rare Coin Auctions attributed the MS67DMPL as: Only a single example is graded at this level with the DMPL contrast, with one more in MS66, and another in MS66 PL. The top coin is likely the Wayne Miller example at MS67 DMPL, which must have upgraded as last time it sold it was MS66 DMPL (1/09) In the StacksBowers sale, they did not contribute the MS67DMPL coin to being the Wayne Miller coin. This leads to me to believe the Legend comment may be incorrect. Does anyone know or can verify the connection? I would like to verify if possible.
StacksBowers described the coin as: A fully struck, intensely lustrous Gem with gorgeous brilliant surfaces. The 1884-CC is the most popular type issue in the Carson City Mint Morgan dollar series. The mintage was 1,136,000 pieces, many of which remained in storage and were released in the 20th century, particularly as part of the GSA offering of CC-Mint Morgan dollars in the 1970s. Offered here is unrivaled technical quality and extraordinary visual appeal for this low mintage, key date Morgan dollar issue. There are just a few wisps and swirls of pale reddish-gold iridescence. The fields are deeply mirrored and the devices are satiny and softly frosted, presenting intense field to device contrast. A touch of softness to the hair curls over Liberty's ear is noted, as are a few light planchet roller marks (as made) in that area. Also as made are several faint die polish lines in the fields, typical of many prooflike examples of this issue. Virtually devoid of handling marks, this is the single finest 1895-S available to Morgan dollar enthusiasts. Also, keep in mind, this is the only 1895-S $1 that is certified as PCGS MS67.
I agree with StacksBowers closing comment: This issue is certainly scarce by Morgan dollar standards in lower Mint State grades, but it is in Gem condition that the 1895-S displays its true rarity. Prooflike and Deep Mirror Prooflike coins are also elusive, while those with superior surface preservation are exceedingly rare. With technical quality and eye appeal that can't be improved upon, the Larry H. Miller specimen of the 1895-S is an amazing coin eagerly awaiting inclusion in another top flight Morgan dollar set. This is a great coin that upgrades a $100K coin with a $336K coin with a one point bump! As stated earlier, this coin is #10, so future Larry Miller updates only gets better from here.
Provenance: Wayne Miller (unverified); Jack Lee I Collection; Jack Lee II Collection; Jack Lee III Collection, (Heritage 11/2005), lot #2326, realized $207,000; Larry H. Miller, (Stacks/Bowers 11/2020), lot #6368, realized $336,000, D.L. Hansen Collection.
1895-S Morgan Dollar MS67DMPL PCGS POP 1/0, CAC Approved Certification #04884182, PCGS #97239 PCGS Value Guide: $200,000 / realized $336,000 Ex: Jack Lee / Larry H. Miller
Upgrades from the Larry H. Miller Morgan Dollar Auction – Part 2
After seeing the very impressive 1895-S Morgan Dollar MS67DMPL update a couple days ago from the Larry H. Miller Morgan Dollar Collection, let’s take a look at the second DMPL that Mr. Hansen was successful in purchasing. The D.L. Hansen Collection of DMPL Morgan Dollars currently ranks at the top of the PCGS registry. The DMPL Morgan specialty set moved into first place in the mid-2019 timeframe. Since that time, about 18 coins have been upgraded moving the set to a solid position in the top spot by about 0.75 points. The prior PCGS HOF set, held the top position for more than 12 years. The HOF fame set is 98.97% DMPL. In comparison to the Hansen set, the 97 piece set is 89.69%. Both sets are amazing. The only coin that is not prooflike in the HOF DT Miller by Ashmore set is the 1893-S MS63 specimen.
PCGS describes this specialty set as: Few Circulation Strike U.S. coins can compare with a deep mirror prooflike Morgan Dollar. The first few hundred coins off a new or newly polished die will often show reflective surfaces, and due to the large size of the Morgan Dollar, the effect is profound. This set allows both prooflike as well as non-prooflike coins, but of course bonuses are given for reflective surfaces. Key dates are similar to the regular sets and include the 1893-S, the 1884-S, the 1889-CC, the 1895 and 1896-O mints, and the 1901-P. Up to this point of time, the specialty DMPL set has been the priority Morgan Dollar set in The Collection. The set is self-described as: The D.L.Hansen DMPL/PL Morgan Dollar Collection is the combination of a number of great historic collections assembled as the TexasCoins Collection by Carl Schwenker of Houston,Texas, (California and Jack Lee)as well as other known collectors. On Carl foundational work the DL Hansen Collection will take it another step forward as a salute to DMPL Morgan Dollars. I am not certain when this statement was written, but the prediction has come true, the set has become a “salute to DMPL Morgan Dollars”. I would add, the journey is not complete yet.
I am starting the first two updates with the two DMPL purchases. As stated a couple days ago, the 1895-S MS67DMPL, POP 1/0, CAC specimen ranked #10 in price realized. The CAC Approved DMPL specimen being featured today is not a PCGS POP 1/0 specimen, but the coin still realized $360,000 in the sale, and was ranked #8 in price. The 1893-O MS65DMPL was the second DMPL specimen from the Larry H. Miller Morgan Dollar Auction and there were no others. Let’s learn more about this coin.
1893-O Morgan Dollar, MS65DMPL, Ex: Young; Bodway; Lee
The following is edited version authored by Q. David Bowers from my "Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia" (Wolfeboro, NH: Bowers and Merena Galleries, Inc., 1993): The 1893-O dollar posted the lowest mintage figure for any New Orleans Mint silver dollar of the Morgan design. The 1893-O dollar is scarce in all Mint State grades and is rare in higher levels. Probably 1,500 to 3,000 MS-60 to 62 coins remain; about 600 to 1,200 MS-63 pieces; only 200 to 300 MS-64s; and a paltry 10 to 20 MS-65 or better examples. Most 1893-O dollars are lightly struck and have fair to average lustre. Some coins are lightly struck on the obverse center but are sharp on the reverse. Many are heavily bagmarked, especially on the obverse. Sharply struck coins exist and are rare in higher grades. Sharply struck MS-65 coins are among the rarest of all Morgan dollars.
He described: Semi-prooflike 1893-O Morgan dollars are sometimes sold as prooflikes and, according to Wayne Miller, are often more attractive than full prooflikes. Prooflike coins are sometimes one-sided and have a mirror surface on the reverse only. Full prooflike coins are extremely rare. DMPL coins seem to be about two or three times rarer than PL, per the certification services. The "Proofs" in the Nygren and Andrus sales (1914, 1915), considering the prices ($1.90, $3.10) were probably DMPLs. That in the "Anderson Dupont" sale (1954), at $26, exceeded the price of most Philadelphia Proofs in that auction; was it something better? The coin is not now traced. To find this coin in GEM DMPL is extremely difficult. There is just this one in MS65DMPL and one finer, MS65+DMPL. I wonder if new Hansen coin is now due for a regrading.
The present finest coin I believe to be the Ralph Stone Collection specimen that was sold by Sotheby's Auctions in 2018 for $325,000. There were comparisons made to the new Hansen coin: An absolutely remarkable coin. With extraordinarily deep, nearly limitless mirrored fields on both the obverse and reverse; all the devices and legends exhibiting rich, cameo frostiness. The strike is sharper than the renowned Young/Goldfreed/Bodway/Lee coin, with which the present coin is tied for finest known; there is greater definition of the hair above Liberty’s ear, and the eagle’s feathers are virtually full. Both examples share the reverse weakness around the bow and ONE of the denomination. Few hairlines to distract, but a small tick or two are noted on Liberty’s nose and near her eye; there is also a small mint-caused inclusion above the 9 in the date. A small reverse mark to the left of the eagle’s wing can serve as an identifier, otherwise few marks of any distraction. There is the faintest hint of gold tone at the peripheries, otherwise essentially white. A splendid example of this significant rarity. I would have to say both coins are great specimens, and if one is better that the other, then it is not by very much.
In the StacksBowers Auction, they too make reference to the other coin: To this description we add simply that delicate peripheral toning in iridescent gold rings both sides and adds to the coin's remarkable appearance. While Wayne Miller commented that the Amon Carter, Jr. specimen was also a "superb 1893-O," in the market of the early 21st century only one other example of this issue rivals the coin offered here. That is the Ralph Stone specimen, also certified MS-65 DMPL by PCGS and verified by CAC, which sold as lot 106 in Sotheby's May 2018 sale of the Ralph and Lois Stone Collection. Prior to that sale, it had been more than a decade since a Deep Mirror Prooflike Gem 1893-O dollar was offered through auction: the present example in Heritage's December 2005 sale of the Jack Lee III Collection. As opportunities to acquire extraordinary condition rarities such as this come along infrequently, we cannot overstate the significance of this offering for advanced Morgan dollar enthusiasts.
There are two great 1893-O Morgan GEM DMPL specimens. The D.L Hansen Collection now has one of them. This is a certainly a great addition to The Collection. We have not seen the best additions yet. As stated earlier, Mr. Hansen purchased eight Morgan Dollars in the sale, paying slightly less than $4,000,000, so hang on because we have more to see.
Provenance: RARCOA's sale of the Leo A. Young Collection of Morgan Silver Dollars, Auction '80, August 1980, lot 1794; RARCOA's sale of the Barbara Goldfreed Collection, Auction '87, July-August 1987, lot 1252; George Bodway; Jack Lee I Collection; Jack Lee II Collection; Jack Lee III pCollection, (Heritage 11/2005), lot 2313, realized $258,750; Larry H. Miller, (Stacks/Bowers 11/2020), lot #6361, realized $360,000, D.L. Hansen Collection.
1893-O Morgan Dollar MS65DMPL PCGS POP 1/1, CAC Approved Certification #04884185, PCGS #97225 PCGS Value Guide: $375,000 / realized $360,000 Ex: Young / Bodway / Jack Lee / Larry H. Miller
The Collection has already upgraded a coin purchased in the second Bob Simpson Mega sale offered by Heritage Auctions. The 2020 November 19, Important Selections from The Bob R. Simpson Collection, Part II was held last night. The pace of this sale seemed very active. I watch up to the start of the patterns, so not sure what happened after that. The coin that was the feature and heavily promoted does not seen to have done well. The 1943-S cent struck on a Bronze Planchet MS63 Brown PCGS, CAC was estimated at $1,000,000. That is also the PCGS value given for the coin. The coin realized only $504,000 and appears available for sale today for $604,000, if there are any takers. Except for the Bronze Cent, there were no other seven figures coins in the sale. Heritage has not issued a press release yet.
It appears the early coinage went strong. The top price realized in the sale was $630,000 for 1807 Quarter Dollar, B-1, R.2, MS67 PCGS, CAC Approved. PCGS valued the coin at $650,000, so no surprise there. The shocker of the sale may be the coin that Mr. Hansen purchased for $528,000. This ended up being the #2 coin and the prized 1943-S Bronzed Cent sold as #3, realizing $504,000. Overall, this sale had 17 coins to realize six figures. The bargain in the sale was a 1915 Buffalo Nickel, MS65 PCGS that realized $660.
The new Hansen coin serves as an addition to the D.L. Hansen Major Varieties Collection. This is one of tough ones. CoinFacts estimates the survival for the variety is approx. 400 coins. The known survival for mint state condition is one! The auctioneer describe the major variety as: Among 1795 Overton varieties, three are of never-ending interest to early half dollar enthusiasts: the O-126, O-127, and O-128 Small Heads. Two of the varieties (O-127 and O-128) are rare, and seldom seen above the VF grade level. The O-126 die marriage is a bit more available, but scarce in circulated grades above VF. Only one Small Head exists in Uncirculated condition, and it is the amazing coin offered now. This coin is believed to have been acquired directly from the Philadelphia Mint in 1795 by William Strickland, before returning with Strickland to England and eventually gracing the Lord St. Oswald Collection by descent. In recent years, the coin has acquired an equally impressive U.S. pedigree that includes the R. Brent Pogue and Bob R. Simpson collections.
I have known the coin was available and needed for the Hansen Collection from the first time it appeared for sale in the Heritage Auction. In the pre-live bidding, the coin ramped up to $228,000. I thought the coin would go between $200K and $250K. Little did I know the live bidding would be so exciting. In post-sale, the Heritage website does not give a bid history. I do remember there were nine bidders in the pre-bidding. The coin is a great addition to The Collection and there is not another one that compares to it.
1795 Flowing Hair Half Dollar “Overton 126a Small Head”, MS63, Ex: Lord St. Oswald
This is definitely a WOW coin from the pedigree, the condition, to the price it realized. In one of Doug Winter’s articles describing gold coins, he said “some coins have what I regard has a strong “Wow Factor.”” Certain issues in the various United States gold types struck between 1795 and 1933 have what might best be called a “Wow Factor.” Something about the issue—be it rarity, design, historic association or low mintage—appeals to a variety of collectors. These coins have strong multiple levels of demand and a “wow” coin might be included in a collection which focuses on trophy coins. This is the one of the kings for the early half dollar guys along with the 1817/4 which is said to be the most famous and valuable of all the Capped Bust Half Dollars. The record for that coin is $356,500, but need to consider there is no mint state. Who knowns, a mint state 1817/4 could break the seven figure mark.
The history of this coin is over two hundred years old. In the Pogue StacksBowers sale, the coin’s history was described as: Few pedigrees leave collectors more breathless than “Lord St. Oswald,” even as the fantastic story of an English peer visiting the first United States Mint in 1795 was found to be based on speculation. The facts are just as evocative as the tall tale, namely that a box of unimportant coins found in the possession of a member of the gentry in the early 1960s included some of the most important early United States coins ever discovered, all dating from 1794 and 1795, clearly kept together since nearly the time of their mintage. Kept loose and unappreciated, totally unstudied, the coins caused a sensation when they appeared at auction in London in 1964. Among their number was a small quantity of cents that maintained vivid mint color, two high grade examples of the famous 1794 dollar (one of which is in the Pogue Collection), and this coin, a 1795 Small Head half dollar, a rarity in any grade but an astounding find in Mint State. While the story may never be known, someone visited Philadelphia in 1795 and brought back coins as souvenirs. Those coins, thought trivial at the time and considered such as late as 1964, are a veritable time capsule that has captured the imagination of collectors ever since. Only one other Lord St. Oswald half dollar has traded hands in the modern era, a 1795 O-112 graded NGC MS-65, once offered in our 1973 Reed Hawn Sale, that brought $92,400 in February 1995.
The coin has a rich history; you may be able to say royalty. In addition, not only can the specimen claim the finest certified, but also the sole mint state. In the Simpson sale, the coin set the half million dollar record for a half dollar. The coin certainly has the WOW factor. It is one of Bob Simpson’s jewels that I guess was placed in his collection by Laura Sperber. It was elegantly described in the Heritage sale as: All of which seems of secondary importance when viewing this remarkable coin. If ever there was an early half dollar with an inarguable claim to full Mint State, this frosted and blatantly original example is it. Exquisitely deep-seated, natural toning radiates shades of tan-gold, lilac, and light-gray that shimmer throughout the lustrous obverse, while lavender and rose hues join the palette on the richly toned reverse. Unblemished rims support full, sharp dentils that surround smooth fields and well-struck devices. The only marks to note are a few brief, faint adjustment marks in the hair above Liberty's ear, barely visible. Their presence contributes to a bit of weakness at the eagle's breast. When all is said and done, this immaculate Small Head is destined for the most advanced collection of early half dollars. Supported by impeccable lore and lineage, the coin speaks for itself in terms of rarity and unsurpassed quality.
Did Mr. Hansen overpay for this coin? A wise member of our community once said: you ALWAYS have to ‘overpay’ and the great coins are never cheap. Well, this is certainly one of the great coins of all times and it was not cheap. I personally think it was an excellent addition even at that the premium price as long as it does not hinder any future purchases. A couple more important Simpson coins will hit the market in 2021. They will no doubt be seven figures and will not fall short of the finish line as the 1943-S Bronze Cent did.
Provenance: William Strickland Collection; Charles Winn (husband of Priscilla Strickland, son-in-law and cousin of William Strickland), Rowland Winn, 1st Baron St. Oswald of Nostell ; Rowland Winn, 2nd Baron St. Oswald of Nostell; Rowland George Winn, 3rd Baron St. Oswald of Nostell ; Rowland Denys Guy Winn, Major the Lord St. Oswald, M.C., (Christie, Manson, and Woods 10/1964) lot #144, realized $840 (300 British Pounds); Spink & Son, Ltd.; Reed Hawn Collection, (Stack’s 8/1973) lot#3; Dr. George F. Oviedo Collection, (Stack’s 9/1983), lot #722; William R. Orwen Collection, (Stack’s 10/1999), lot #341, realized $89,125; D. Brent Pogue Collection, (Stack’s/Bowers & Sotheby’s 5/2015), lot #1099, realized $199,750; The Bob R. Simpson Collection, Part II, (Heritage 11/2020), lot #3051, realized $528,000, D.L. Hansen Collection.
1795 Flowing Hair Half Dollar “Overton 126a Small Head”, MS63 PCGS, POP 1/0 (The only 1795 Small Head graded Mint State by PCGS) Certification #40274316, PCGS #39248 PCGSVG: $235,000 / realized $528,000 Ex: Lord St. Oswald / Pogue-Simpson
.
. The Major Varieties Set is an expansion of the PCGS Basic Set. To complete, this set would require the 2821 basic coins plus an additional 439 Major Varieties Coins. With this addition, there are 19 remaining coins in this quest. The first two coins are not collectable, so the completion of this set would be 99.94%. PCGS describes this set as: Every classic U.S. coin in Circulation Strike from 1792 through 1964, every date, every Mintmark, every major variety, this set is the ultimate challenge. A collection of this size could take decades to assemble in high grade.
Top 10
1797 Half Eagle "Large Eagle, 15 Stars" (1 Known – Permanently in Smithsonian) Uncollectable
1797 Half Eagle "Large Eagle, 16 Stars" (1 Known – Permanently in Smithsonian) Uncollectable
1861 Double Eagle "Paquet" (2 Known)
1804 Eagle "Plain 4 Proof" (3 Known)
1849-C Gold Dollar "Open Wreath" (4 Known w/ one defective)
1958 Small Cent "Doubled Die Obverse” (3 Known)
1795 Large Cent "Jefferson, Lettered Edge" (5 Known w/ VF Finest Known)
1810 Half Eagle "Large Date, Small 5" (5 Known w/ AU Finest Known)
1842 Half Dollar "Small Date, Rev of 1839" (Survival est. 10 w/ 1 Mint State)
1804 Quarter Eagle "13 Star Reverse" (Survival est. 11 w/ AU Finest Known)
Next 5
1797 Half Cent "Gripped Edge" (Survival est. 13 w/ VG Finest Known)
1797 Half Eagle "Small Eagle, 15 Stars" (Survival est. 20 w/ 1 Mint State)
1820 Half Eagle "Curl Base 2, Sm Letters" (Survival est. 14 w/ 8 Mint State)
1800 Dollar "Wide Date, Low 8, AMERICAI" (Survival est. 25 w/ AU Finest Known)
1798/7 Eagle "7X6 Stars" (Survival est. 25 w/ 3 Mint State)
Last 4
1839 Half Dollar "Receeded Edge, Small Letters” (Survival est. 50 w/ 4 Mint State)
1798 Quarter Eagle "Wide Date" (Survival est. 50 w/ 8 Mint State)
1798 Dollar "Large Eagle, Knob 9, 4 Lines" (Survival est. 125 w/ 2 Mint State)
1887/6 Three Cent CN (Survival est. 800 w/ 750 Mint State)
Upgrades from the Larry H. Miller Morgan Dollar Auction – Part 3
The first two updates we saw the two DMPL specimens from the Larry H. Miller Morgan Dollar Collection. We will now move into the other great Morgan Silver Dollars obtained from this collection. John Brush wrote about the purchase on his weekly blog titled, “Coins We Love”. He wrote: Last week was supposed to be the Whitman Baltimore Expo. Honestly, I had forgotten all about the show until I had to participate in the accompanying auction that occurred last week. As usual, we represented Mr. Hansen in bidding in the auction of the Larry H. Miller Collection (another Utah native) and we came home with some amazing finest known Morgan Dollar rarities at some fantastic prices. What’s really fascinating is that these Morgans have been off the market for nearly 20 years and not located in any registry set. Now that they have entered the collecting marketplace, the former #1 rated Morgan sets may have some new competition. While record prices were achieved on several of these pieces, they were still far below what some expected the coins to bring.
I wrote a few days ago that I thought the prices realized were pretty strong. This was especially in reference the 1895-S MS67DMPL that realized $336,000. According to John Brush, they were still far below what some expected the coins to bring. John does not indicate specifically the coins purchased or the number of coins purchased from the collection. As I indicated earlier, according to the updates, I believe Mr. Hansen purchased eight of the coins. The lowest price that he paid was $66,000 for the 1886-S MS67, Certification #06553739, PCGS POP 5/0, CAC Approved. The other seven coins all realized six figures. I will feature today the 1892-S MS68 Morgan Silver Dollars pedigreed to Jack Lee.
Does it get any better than PCGS Hall of Fame Jack Lee? He was award the PCGS Hall of Fame in 2002 for his Morgan Dollars Basic Set, Circulation Strikes (1878-1921). The set requires only 97 coins, but his collection was almost twice that size. The HOF comments: This is the undisputed all-time greatest set of Morgan dollars. In fact, it is one of the finest individual sets of United States coins ever assembled. It contains more than the 97 required coins; in fact, there are 175 coins in the set, not counting the proofs. Of those 175 coins (mint state and proof-like and deep mirror proof-like) there are 172 that qualify as the finest graded or tied for the finest graded. An incredible accomplishment combining unprecedented patience, dedication, and resources. Highlights of the Jack Lee Collection are an 1884-S graded MS68, the famous Wayne Miller 1886-O graded MS67DMPL, the Eliasberg 1889-CC graded MS68, the Norweb 1893-S graded MS67, an 1896-O graded MS66, an 1896-S graded an unbelievable MS69, and literally every other coin in the collection. The 1892-S MS68 Morgan Silver Dollar was not one of the coins mentioned in this summary, but the coin still was one of Mr. Lee’s amazing specimens.
1892-S Morgan Dollar, MS68 Ex: Jack Lee
The following is edited version authored by Q. David Bowers from my "Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia" (Wolfeboro, NH: Bowers and Merena Galleries, Inc., 1993): The 1892-S dollar is one of those United States coins that is very common in worn grades but which is an extreme rarity at the MS-65 level. In 1992, a coin in VG-8 grade was worth about $10, while an MS-65 coin would have brought $50,000 or more at auction. In other words, an MS-65 coin is worth 5,000 times as much as a VG-8! The explanation is that many if not most 1892-S dollars were placed into circulation at or near the time of issue, and few were saved in Mint State. However, in the days of long ago the 1892-S was not recognized as a rarity. No accolades were given to the issue whenever an Uncirculated coin crossed the auction block in the period extending up to 40 years after it was minted. In Ed. Frossard's sale of March 8, 1898, a Mint State 1892-S fetched $1.05; in the U.S. Coin Co. auction of May 19-21,1915, $1.50 was obtained for another; and in Thomas L. Elder's auction of April 13-14, 1917, $1.50 was again achieved. In fact, it was not until comparatively recent years that the rarity of the 1892-S has been recognized; this after the San Francisco Mint dispersals from storage in the 1940s and 1950s apparently yielded no bags of this date, nor were any among the untold millions of Morgan dollars paid out by the Treasury during the 1962-1964 emptying of government vaults. However, it is known that at least one bag of 1892-S dollars was paid out by the San Francisco Mint in 1925-1926. Few coins reached numismatic circles, as there was little collecting interest in Morgan dollar mintmarks at the time. Perhaps, some of the AU coins now known came from that release.
The new Hansen coin sold in auction in 2005 from The Jack Lee Collection, III Sale. The Heritage auctioneer describe the coin as: Finest Certified 1892-S Morgan Silver Dollar. Heritage Auctions described the rarity as: Only 1.2 million Morgan Dollars were coined at the San Francisco Mint in 1892, and many of these immediately went into circulation. The mintage itself makes an intriguing sale, for each and every month of the year saw exactly 100,000 coins struck. This is a remarkable and perhaps unique situation in the history of the United States Mint. Apparently most of these coins were immediately paid out and placed in circulation, for nearly all known examples today are well worn. In grades below XF, the '92-S is a plentiful and inexpensive issue. Those coins that grade XF or AU are scarce and more expensive. Mint State coins, regardless of numerical grade, are all but impossible to locate. In fact, in all Mint State grades, PCGS and NGC have only certified 103 examples of this issue, doubtless with multiple resubmissions. It is possibly the case the nearly the entire mintage entered circulation. Occasional pieces would be found with other dates, but apparently not even a single bag of Mint State examples have been found since the late 1920s, when a bag (or possibly more) was paid out at the San Francisco Mint. This event went more or less unnoticed in numismatic circles.
Wayne Miller provided commentary in his textbook: "The typical mint state 1892-S dollar is well struck, with good luster and fewer than average bagmarks. This date is now known to be not nearly as rare as the 1893-S in fully uncirculated condition; probably two dozen or more have surfaced in the past six years [prior to 1982]. The 1892-S has been denigrated as a poor investment by most advisory letters, to the effect that it is one of the few key date Morgans which is not instantly saleable in fully gem condition. There is not doubt, however, that the 1892-S is still very rare in fully mint state condition. Of the more than one million pieces which were struck, probably fewer than two hundred specimens exist in choice BU or better condition. A few truly superb specimens have appeared in recent years, the finest of which realized $31,000 in Auction '79. It subsequently resold for nearly $40,000. The coin had gorgeous peripheral toning and a glowing golden-yellow center. Because of its rarity in the higher grades, the 1892-S is often counterfeited. Never buy a high-grade 1892-S without proof of authenticity. Further, because grading is so critical, examine such a specimen very carefully. Ignore advertisements of 'typical weak strike BU' 1892-S dollars. Of the twenty or so mint state specimens the author has examined, virtually all were well struck."
As stated by John Brush, the coin has been off the market for a long time, 15 years to be exact. In the StacksBowers sale last week, the rarity of the coin was described as: As one of the leading condition rarities in the Morgan silver dollar series of 1878 to 1921, the appearance of even a low end Mint State 1892-S at auction is a noteworthy event. The Larry H. Miller specimen in PCGS MS-68 is the finest certified 1892-S as well as one of the most famous of all Morgan silver dollars in numismatics. Highly lustrous with a smooth, frosty texture, both sides are brilliant apart from wisps of subtle champagne-gold iridescence. Sharply struck over all design elements, this is an expertly preserved and incredibly beautiful Superb Gem that stands tall among the numerous highlights in the fabulous Miller cabinet.
There are no hints for the pedigree prior to Jack Lee. If the coin could be traced further back would be great to know. The D.L. Hansen Collection of Morgan Dollars now has eight MS68 PCGS certified specimens with four of them with the MS68+ certification. The 1892-S was a nice addition that realized $630,000 in the Larry H. Miller Morgan Dollar Sale. PCGS placed the value of the coin at $600,000. It does not have the CAC Approval sticker. This was the only coin in the eight purchased by Mr. Hansen that did not have the sticker. This is an very nice upgrade to the collection and I will speak more on the D.L. Hansen Morgan Set in the days to come. Wait and Watch!
Provenance: Jack Lee I Collection; Jack Lee II Collection; Jack Lee III Collection, (Heritage 11/2005), lot 2309, realized $322,000; Larry H. Miller, (Stacks/Bowers 11/2020), lot #6358, realized $630,000, D.L. Hansen Collection.
1892-S Morgan Dollar MS68 PCGS POP 1/0, Finest Certified 1892-S Morgan Silver Dollar Certification #07455547, PCGS #7218 PCGS Value Guide: $600,000 / realized $630,000 Ex: Jack Lee / Larry H. Miller
Upgrades from the Larry H. Miller Morgan Dollar Auction – Part 4
Today, we will see the fourth coin updated from the Larry H. Miller Morgan Dollar Collection. I discussed a few days ago the focus set for Morgan Dollars in the D.L. Hansen Collection was a complete specialty set of DMPL specimens. The Hansen Collection currently represents the #1 spot in the registry. Mr. Hansen purchased two coins for the Larry H. Miller Morgan Dollar Collection to improve that set. The new focus being seen is with the basic Morgan Dollars. It appears to me a decision was made to jump in with both feet. He purchased six non-DMPL from the Larry H. Miller Morgan Dollar Collection for a total of eight. All eight coins were magnificent, with seven being in the top ten for prices realized in the sale.
With the purchase of these eight coins, The D.L. Hansen Collection leaped from the 17th spot in the ranking to number six! I was not expecting the focus to shift this quick and intense. The top five sets include the who’s who in Morgan Dollars royalty. There are two PCGS Hall of Fame collections, Jack Lee and the California Collection. There is the current number one registry set, Gold River Collection. Rounding out the top five are the top two sets of all-times, Coronet and Illinois Collection. It appears the Hansen Collection has set sights for starting to break into the leaderboard of the top five. Let’s look at the top key date coins in the 97 coin set and see how well the Hansen Collection is doing.
I will bring in focus the key date top twelve coins based on PCGS weighting (8-10). There is only one coin weighted 10, the 1893-S. There are five weighted as nine, and six weighted at eight. Here are the twelve key date Morgan’s presently in the Hansen Collection.
1893-S (10.00) MS65 POP 5/1
1884-S (9.00) MS68 POP 1/0, Finest certified by PCGS
1889-CC (9.00) MS64+DMPL POP 3/2, Finest PCGS certified DMPL.
1895-O (9.00) MS67 POP 1/0, Finest certified by PCGS
1896-O (9.00) MS64 POP 32/3
1901 (9.00) MS64 POP 33/3
1886-O (8.00) MS64+ POP 27/4
1892-S (8.00) MS68 1/0, Finest certified by PCGS
1893-CC (8.00) MS65 POP 13/2
1893-O (8.00) MS65DMPL POP 7/2
1894 (8.00) MS64 POP 285/65
1895-S (8.00) MS67DMPL 1/0, Finest certified by PCGS
To highlight, four of the twelve key dates are PCGS 1/0, Finest certified by PCGS. All but one, 1894 MS64 are PCGS Condition Census Top Five. This makes up a pretty nice collection of key date Morgan Dollars. Overall the Hansen set has a GPA of 66.12, compared the #5 set at 66.17 and the current top set at 66.15. The grades in the Hansen set range from six MS64 to four MS68+. There are a couple of MS64 coins that really needs replacing, the 1894 and 1894-O.
As mention, the only current top five set is the Gold River Collection. In comparison, that set has four POP 1/0 specimens, but none of them are the key dates. The set grade range is from the 1893-S MS63 to pair of stunning MS69 specimens. The set is mostly PCGS Condition Top Five specimens with just a handful Top Ten. There are only three coins outside the Top Ten, but not by much.
So, what would it take to be the all-time top set for Morgan’s? It will not be an easy task. The last collection to take a shot was The Illinois Collection. The set made a run for the top, but retired February 2020 after reaching the all-time runner-up spot. The set was assembled by Barry Stuppler. He stated that it took 14 years to assemble the Illinois Morgan Dollar Collection, which encompasses five of the All-Time Finest Sets. You may recall that Mr. Stuppler was inspirational in getting Mr. Hansen stated with his St. Gaudens Double Eagle set. Mr. Stuppler marketed the Illinois Set in 2019 for $9.7 Million. His desire was to keep the set together and sell intact. The set contained 12 PCGS POP 1/0 specimens, with all but one being from the Coronet Collection. After an unsuccessful attempt to sell intact, Mr. Stuppler broke the set and stated to sell individually. Two of the PCGS POP 1/0 specimens (1889 and 1899-O) are in the Gold River Collection. I am not sure where all the remaining ten PCGS POP 1/0 specimens are presently located, but there are a few being offered on Mr. Stuppler website (and eBay).
The set that enjoys the top spot in the registry is the Coronet Collection. (Note: By GPA, The Jack Lee Set is still #1) This set retired in 2015 and the coins was auctioned by Legend Rare Coin Auctions. This set consisted of an unprecedented 17 POP 1/0 specimens. The two currently in the Gold River Collection are the only two that I can account for. It will be interesting to see if Mr. Hansen motivation turns to making a run in the basic Morgan Dollar set. If he do, the TOP POPs will need to come out of hiding.
1897-O Morgan Dollar, MS67 Ex: Jack Lee
Described as “Exceedingly Rare Superb Gem 1897-O Dollar”, this is another specimen from the famous Jack Lee Collection. The following is edited version authored by Q. David Bowers from my "Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia" (Wolfeboro, NH: Bowers and Merena Galleries, Inc., 1993): A few bags of 1897-O dollars came on the market in the East, in the greater area comprising New Jersey, eastern Pennsylvania, and southern New York, in the late 1940s and again in the early 1950s. These were from storage in the Treasury Building in Washington, D.C. There was little investor interest at the time. It has been said that a few bags of 1897-O dollars were part of the Treasury release of 1962-1964, from storage in a sealed vault at the Philadelphia Mint, but I have found no specific record of them. Harry J. Forman, who never handled a bag of 1897-O dollars, reported that New York dealer Joel Coen is said to have had 10 rolls, perhaps from the 1962-1964 distribution. Other 1897-O dollars turned up in quantity through the branch of the Federal Reserve Bank in Helena, Montana, but these were lightly circulated coins mixed in with "slider" 1894-O, 1895-O, and 1896-O pieces. A bag of 1897-O dollars was reportedly stolen from LaVere Redfield in 1963 (Miller, p. 6). The 1897-O issue is not one to have attracted much attention, for the typical piece is lightly struck and unattractive. Once again, the New Orleans Mint workers were just doing their job: turning out massive quantities of dollars, without regard to quality.
The new Hansen 1897-O Morgan Dollar sold in a 2005 auction was from The Jack Lee Collection, III Sale. The Heritage auctioneer described the coin as: One of scarcer dates that is extremely difficult to locate in grades of MS63 or finer. This stunning coin is one of the very Finest Known of this date, with a combined NGC and PCGS Population of a mere 3 coins, with none seen finer. The surfaces are pristine and show virtually no signs of handling although we will note a tiny nick near the center of Liberty's broad cheek as a pedigree marker. On the reverse there is a minute planchet crack on the edge below the D of DOLLAR. Bright and lustrous, with an attractive layer of light gold toning over the entire coin. Simply stated, this is one of the absolutely Finest Known examples of this date, and it is worthy of a runaway price. Rarity and quality of this magnitude can not be duplicated at any price, and if this opportunity passes, a similar coin may not be offered again in decades. The other PCGS MS67 specimen is from Gregg Bingham NFL Collection that sold in an Heritage 2001 auction for $109,250. At the time, the coin was described as: Possibly the Finest Known 1897-O Morgan Dollar, MS 67 PCGS. The Jack Lee / Larry H. Miller / D.L. Hansen specimen has a CAC Population of only one.
In the StacksBowers sale last week, the rarity and condition of the coin was described as: The Miller 1897-O is a phenomenal strike and condition rarity that well represents this challenging New Orleans Mint Morgan dollar. The strike is as full as we have ever seen for the issue, and rivals that seen even on the best struck San Francisco Mint Morgan dollars. The luster is equally impressive, with both sides displaying smooth mint frost over virtually pristine surfaces. Enhanced by blushes of champagne-pink and pale silver iridescence, this is a gorgeous coin that is unsurpassed in either quality or eye appeal by any other 1897-O dollar that your cataloger (JLA) has handled for auction over the last 20 years.
As with many of the Jack Lee Morgans, there are no additional hints for an earlier pedigree. I wonder if this and several other coins have ties to the Wayne Miller Collection (1/86). This was the tenth highest purchase realized in the Larry H. Miller Morgan Dollar Sale. The coin realized a new auction record at $348,000. PCGS Price Guide was pretty close in valuing the coin at $350,000. To me, the PCGS POP 2/0 specimen was well worth the price realized. For those in the community that values the sticker, the coins is CAC Approved. There are still three more Larry H. Miller upgrades to go. Wait and Watch!
Provenance: Jack Lee II Collection; Jack Lee III Collection, (Heritage 11/2005), lot 2329, realized $126,500; Larry H. Miller, (Stacks/Bowers 11/2020), lot #6373 realized $348,000, D.L. Hansen Collection.
1897-O Morgan Dollar MS67 PCGS POP 2/0, Tied Finest PCGS Certified Certification #05700150, PCGS #7248 PCGS Value Guide: $350,000 / realized $348,000 Ex: Jack Lee / Larry H. Miller
Upgrades from the Larry H. Miller Morgan Dollar Auction – Part 5
Today, we will see the fifth coin updated from the Larry H. Miller Morgan Dollar Collection. There have been several blogs and news releases on the sale. I reported on John Brush and his thoughts. His most memorable comment was they were still far below what some expected the coins to bring. Some other comments was from the Legend’s Market Reports Blog authored by Laura Sperber or one of her protégés. The title: “YES YOU CAN MAKE MONEY IN RARE COINS”. It started with the opinion on how smart Larry Miller was. The premise as stated: “He hired a veteran dealer and tasked him to buy great coins”. Probably not a bad idea. The other premise is to “by (sp.) the best quality and hold, you WILL enjoy a significant return”. She went on to say: You can NOT go and build a collection of any kind today and expect to sell it for great profits within a year or two. No matter who was your agent. While you may have coins that will net some profits, the majority probably won’t. The definition of holding long term is 10+ years. Plus, the greatest collections all had great dealers working with them. Collectors just do not get access to coins like these. Plus, using a dealer you won’t buy any dogs. We know the Miller Collection is 15-20 years old. There may be some wisdom here.
As for coins themselves, two are specifically mentioned in the Legend blog. Many of these coins probably fell back in the deep black hole of mystery buyers. Coins like these are so powerful, the buyer of the 1886-O PCGS MS67DMPL called it his “all time favorite Morgan” while he had dreamed owning it ever since he saw it 20 years ago. The buyer is a major dealer who has handled some of the greatest coins ever! I am not sure who the major dealer that purchased the 1886-O PCGS MS67DMPL. The coin realized an auction record of $780,000. In my research, I believe this to be the second most expensive Morgan coin that has been realized in public auctions. It is second only to the Eliasberg-Lee 1889-CC MS68 specimen that realized $882,250 in a 2013 StatcksBowers Auction. The 1886-O PCGS MS67DMPL is probably a coin the Mr. Hansen bided on, but it got away. Prior to this sale, the most a 1886-O MS65+ PCGS specimen realized was $235,000 in Legend’s June 2015 Regency XII Auction. The 1886-O PCGS MS67DMPL would be a nice improvement to The Hansen DMPL set replacing a MS62DMPL POP 6/5 specimen.
The second Miller coin mentioned in the Legend’s Market Report, Mr. Hansen was successful in obtaining. Our all time favorite coin the sale-$1 1895-O PCGS MS67 CAC. We think its an easy + candidate. Never saw another 95-O even close to it in quality and eye appeal. This was not the most expensive coin from the sale. In fact, the coin realized $528,000 with PCGS price guided valued at $575,000. I wonder how Legend let this one get away being they liked it so much. With the knowledge of an easy + candidate, I would have thought they would be all over it. This may be an example were John Brush referenced they were still far below what some expected the coins to bring.
1895-O Morgan Dollar, MS67 Ex: Wayne Miller / Jack Lee
Our Community Expert Ron Guth commented: The 1895-O Silver Dollars is one of the most difficult of the series to find in nice condition. The quantity of truly Mint State 1895-O Dollars is very low. This statement becomes clear on examining the PCGS Population Report. As of October 2012, PCGS had certified approximately equal quantities of 1894-S, 1895-O, and 1896-O Dollars -- between 4,000 and 5,000 each. Any suggestions of similarities between these dates is demolished when one examines the Mint State columns, where PCGS shows the following -- for the 1894-S, PCGS shows nearly 3,000 MS examples; for the 1896-O, nearly 1,300; for the 1895-O, a mere 143 examples. Prooflike and Deep Mirror Prooflike 1895-O Dollars are very rare. The finest 1895-O Dollar is a single PCGS MS-67, the phenomenal coin once owned by Silver Dollar specialists Wayne Miller and Jack Lee, and which realized $575,000 way back in 2005. The Hansen coin is the MS67 specimen that is referenced by Mr. Guth.
The coin sold in a Heritage 2005 Sale of The Jack Lee III Collection for $575,000. This may be one of a handful Morgans that dropped in value since 2005. The coin was marketed as Wayne MIller's Own 1895-O Morgan Dollar. Offered by Superior Galleries in January 1986, with the following commentary: "A 'wonder' coin! Excellent luster with virtually no bag marks. Unequivocally the Finest Known specimen. Miller states that the only other specimen near to this one was the piece he purchased in 1970 from the Hardenburg Collection which was Prooflike but did not have the overall 'pizzazz' this coin possesses. Wayne Miller turned down $100,000 for this coin a few years ago. The 1895-O Dollar is one of the most amazing coins in this fabulous collection and is certainly worthy of a new record price." Today, these comments seem equally applicable. Current certification service data suggests just how elusive these coins are in Gem condition. PCGS and NGC have graded a total of 10 examples in all grades of MS65 or finer, including one MS66 example at each service as well as this solitary MS67 grade Superb Gem dollar. This is the only coin to receive the MS67 grade to date.
If history is an indicator, this coin will be in the D.L. Hansen Collection for a very long time. I don’t think there is a better example. It puzzles me why this coin did not realized somewhere between $600,000 and $650,000. The coin is that good. In the Larry Miller Auction, Heritage described the coin as: Finest Known 1895-O Morgan Silver Dollar. In the Heritage commentary, they state the coin may be the most desirable. In a collection replete with absolute and condition rarities -- among which are some of the most famous individual coins in all of U.S. numismatics -- it would be nearly impossible for anyone to pick one single coin that stands out as the most significant, most desirable, or even simply their favorite. Among the Morgan dollars in the Larry H. Miller Collection, however, the 1895-O is a strong contender for this honor. It is the finest certified and, in many opinions, the finest known example of this conditionally challenging issue. It is a beautiful Superb Gem that really needs to be seen to be fully appreciated. The striking detail is razor sharp to full over virtually all design elements, certainly far superior to the typical survivor of this overall poorly produced issue. Brilliant with full mint luster, the frosty design elements are equally as appealing as the satiny fields. There is even a trace of semi-prooflike reflectivity on the reverse. We have never seen this coin's equal in an 1895-O dollar, and doubt that such an example exists. Extraordinary!
Again, I am not sure how this rare MS67 CAC Approved specimen ended up in the Hansen Collection at what I believe to be a bargain. This is a POP 1/0 specimen for one of the Key Dated Morgan Dollars. I feel certain Mr. Hansen is very pleased with purchase. As we get closer to the finish, there are two even better Morgans to see. Wait and Watch!
Provenance: Wayne Miller, acquired January 1975 for $5,500; Wayne Miller Morgan and Peace Dollar Collection, (Superior 1/1986), Lot #1310; George Bodway; Jack Lee I Collection; Jack Lee II Collection;
Jack Lee III Collection, (Heritage's 11/2005), Lot #2324, realized $575,000;Larry H. Miller, (Stacks/Bowers 11/2020), lot #6367 realized $528,000, D.L. Hansen Collection.
1895-O Morgan Dollar MS67 PCGS POP 1/0, Finest PCGS Certified Certification #07455561, PCGS #7236 PCGS Value Guide: $575,000 / realized $528,000 Ex: Wayne Miller/ Jack Lee / Larry H. Miller
Upgrades from the Larry H. Miller Morgan Dollar Auction – Part 6
Today, we will see the sixth coin updated from the Larry H. Miller Morgan Dollar Collection. Also, I think this would be a good time to share StacksBowers press release. It started by saying: Part One of the Larry H. Miller Collection was a much anticipated highlight of the Stack's Bowers Galleries November 2020 Showcase Auction, held at the Balboa Bay Resort in Newport Beach, California. Acquiring coins discretely and off the radar of the collecting community, the late Larry H. Miller assembled a world-class cabinet that spanned nearly the entire Guide Book of United States Coins. Part One, sold on November 12th, encompassed the most emblematic issues of the late 19th and early 20th centuries and realized more than $9.05 million across 436 lots. Part One of the sale had 436 lots, but the bulk of the value was in the Morgan Dollars. To be more precise, the top ten Morgan Dollars in the sale was significant. The top 10 Morgan coins realized $5,580,000. That accounts for more than 61% of the sale. I have not seen the value of the Larry Miller Morgan Collection, but that would be good to know. As I reported before, Mr. Hansen only purchased eight Morgan Dollars, with seven was in the top ten of prices realized. His spend for Miller Morgans account for approx. $3.6 Million.
This presentation was highlighted by a world-class set of Morgan dollars that featured some of the very finest known of their issues. Among the top highlights was the incredible MS-67 DMPL (PCGS) CAC 1886-O that specialist Wayne Miller called "the most spectacular Morgan dollar known;" it sold for $780,000. The famous MS-68 (PCGS) CAC 1884-S from the Miller Collection is the sole finest known and traces its provenance back to such acclaimed numismatists as David Hall, George Bodway and Jack Lee. That astounding piece commanded a price of $750,000. The MS-68 (PCGS) Jack Lee 1892-S dollar also ranks as the finest certified and was bid to $630,000. The MS-69 (PCGS) CAC 1896-S offered virtual perfection and earned $720,000. This piece is ranked not only as the sole finest for the date but is also tied with the finest graded across the entire range of Morgan dollars. Two the mentioned coins went into the D.L. Hansen Collection. I reported a few days ago on the 1892-S MS68. The coin ranks #6 all-time in price realized. The other coin, MS-68 (PCGS) CAC 1884-S, now in the D.L. Hansen Collection ranks #3 all-time in price realized. I will focus more on the 1884-S in today’s feature, first let’s look at the all-time list of Morgan Dollars. These are the top ten specimens. One interesting point, there are three diffident specimens for the 1893-S Morgan on this list.
The 1884-S is the top realized coin in the lots that Mr. Hansen purchased. The winning bid on the coin was $750,000. Only two coins have realized more, the 1886-O Larry Miller specimen in this sale. For the top Morgan of all times, you will have to go back seven years to a StacksBowers Sale where the Eliasberg/Lee 1889-CC MS68 specimen realized $881,250. Let’s study the 1884-S a little more in detail to determine why it is the #3 all-time coin.
1884-S Morgan Dollar, MS68 Ex: George Bodway /Jack Lee
Comments from Expert David Hall: The incredible MS68 coin surfaced at a Mid-West coin show in the 1980's. Dealer Chuck Walanka asked me if I wanted to see two special coins and then he proceeded to show me the 1884-S later graded by PCGS MS68 and the 1896-S later graded by PCGS MS69!!!!! Needless to say, I was virtually speechless. I bought the coins for what was a big price at the time...I think I paid him $40,000 for the pair. I sold both coins to collector George Bodway. Later, Jack Lee bought the Bodway collection intact, combining the two best Morgan dollar collections of the time into one. Jack continued to upgrade his set, building the greatest Morgan dollar set of all-time.
The #2 1884-S Morgan Dollar on Condition Census list is the Kenny Duncan, Jack Lee 1, Ralph Stone specimen that sold by Sotheby's on May 2018 realizing $735,000. Sotheby’s wrote this about the coin: Although the 1884-S had a healthy mint run and 3,200,000 were produced, most appear to have found their way into circulation and the survival of mint state examples is low. Wayne Miller ranked the date as rarity 10 (of 12) in grades of MS 60, and at rarity 11 in MS 65. The most famous 1884-S is that which graced the George Bodway collection and was part of the PCGS Tour (see Highfill, 2017, p. 1233 for an illustration). In 1994, along with the entire Bodway collection, it was sold to Jack Lee, who amassed what is universally acknowledged as the finest collection of Morgan silver dollars ever assembled. The present coin has only recently been published in the new edition of Highfill (2017) as having been Jack Lee's finest example prior to his acquisition of the Bodway specimen. According to Lee's own listing (p. 482) it was the finest known example. Mr. Lee acknowledged the Miller Specimen was the finest known. It is still impressive two specimens of the 1884-S Morgan Dollar holds #3 and #4 spots on the all-time price realized for Morgen Dollars.
With only three 1884-S certified GEM by PCGS, the Larry Miller MS68, the Larry Stone MS67, and there is one MS65, which is an unknown coin. Just to add another level of just how tough this coin is, Mr. Hansen’s previous coin was a MS63+, CAC, POP 6/15. This choice graded coin has current PCGS value of $80,000. The StacksBowers commentary states: The finest certified -- and undoubtedly the finest known -- 1884-S Morgan silver dollar, this famous condition rarity is at the threshold of numismatic perfection. The surfaces are highly lustrous with a beautiful softly frosted mint finish. Wisps of iridescent gold toning enhance both sides, appearing to drift toward the borders of the largely brilliant coin. The striking detail is razor sharp to full throughout the design, and the eye appeal is extraordinary, especially given that the 1884-S is one of the most challenging Morgan dollars to find in attractive Gem MS-65 preservation. This coin is one of the new POP 1/0 Key Dates for the Hansen Collection. This is one of the five coins with a PCGS weight grade of nine. The coin only trails the 1893-S in weighted average.
The provenance of the 1884-S MS68 is commonly traced back to Tom Tkacz, circa 1980. Thanks to our community member ColonelJessup, he provided some information on where Tom Tkacz obtained the coin. Rick commented that both the 1884-S and the 1896-S MS69 indeed have a provenance going back to Tom Tkacz of Glen Rock. Rick knew him prior 1979. He recalls Mr. Tkacz purchasing the two pieces together in late 1979 to early 1980 from Art Leister of PA for the combined sum of $20,000. Rick indicated this is verifiable from a Coin World article at that time. Unfortunately, Mr. Hansen came up short on the bidding for the 1896-S MS69. A pair of coins sold for $10,000 each, and 40 years later, $750,000 and $720,000. Thanks Rick for the cool story.
This gets us down to only one coin left. I save the 1893-S for last. It was not the most expensive Morgan that Mr. Hansen purchased, but it really does not get better for the Morgans than the 1893-S. Wait and Watch for one more!
Provenance: Tom Tkacz, 1980; Chuck Walanka, sold to David Hall; George Bodway; Jack Lee Collection; Larry H. Miller, (Stacks/Bowers 11/2020), lot #63627, realized $750,000, D.L. Hansen Collection.
1884-S Morgan Dollar MS68 PCGS POP 1/0, Finest PCGS Certified Certification #07455496, PCGS #7156 PCGS Value Guide: $900,000 / realized $750,000 Ex: Chuck Walanka / Jack Lee / Larry H. Miller
Upgrades from the Larry H. Miller Morgan Dollar Auction – Part 7
The True King of the Morgan dollar (David Hall)
Rarest Circulation Strike Issue in the Morgan Series (StakesBowers)
The 1893-S is the true "King" of the Morgan dollar series. The PCGS CoinFacts Board of experts estimated survival number for all grades is 9948. Dave Bowers has estimated that 6000 to 12,000 survive and I think those numbers are probably accurate. There are probably as many as 10,000 1893-S dollars in all grades. In Mint State condition, the 1893-S is absolutely the rarest Morgan dollar. And in Gem MS65 or better it's a super rare coin. CoinFacts survival estimate is 123 Mint State survivors and 18 MS65 or better survivors. I believe that MS65ob number is way too high. I think there may very well be 100 or so MS60ob survivors, but no way is there 18 Gems. I believe the true number of MS65 or better examples is probably 6 to 7 coins. The finest known example is the fabulous Jack Lee MS67, recently sold for over a million dollars. There are 5 or 6 others that have or would grade MS65 at PCGS. Over the years I have handled several Gems, but if there were truly more than 10 MS65ob coins then they would appear much more often than they do. These are comments from David Hall. The 1895 Proof Only is commonly considered the King of Morgan Dollars, but Mr. Hall makes a valid argument why the 1893-S is the Ture King. There has not been a Morgan sold in public auction for seven figures. Although, Legend Numismatics sold privately the fabulous Jack Lee 1893-S MS67 for a price reported to be in excess of one million dollars.
Ron Guth also writes about the million dollars sale: The Eliasberg 1893-S $1 in PCGS MS65 sold in a Legend Rare Coin Auction in October 2014 for a new record price of $646,250, surpassing the previous record held by the Norweb NGC MS67. The big question is how this new record price will affect the value of the spectacularly toned PCGS MS67 Vermeule/Lee/Coronet Collection example, which was acquired by the owner of the Coronet Collection in October 2008 for a price reported to be in excess of $1 million. We know now, the Norweb NGC MS67 has taken a turn for the worst. I would not think it is even considered the second finest presently (seen number seven below). The Elliot Goldman / Mark Yaffe / Ralph Stone holds the auction record for the 1793-S realizing $735,000 in 2018 Sotheby's Auction.
John Love commented: Many of the mint state examples that survive today come from a group of about 28 originals uncs that were found in an original mint bag of 1894-Ss that came into a bank in Great Falls, Montana in the early 1960's. I ended up acquiring about five pieces from the owner. The first one I paid $2800 for in about 1965 or 1966. The quality of the coins was approximately what we'd now call MS63 or MS64. This was the only find of this extremely important date that I know of. You would have thought that LaVere Redfield would have had some, but he didn't. Finding specimens in GEM condition was very rare. This is the list of seven to nine known 1793-S GEMs provided by StacksBowers Auctions. The ranking for #2 thru #6 on the list represents a tie between five coins in PCGS MS-65. (StacksBowers 11/2020):
1 : Vermeule- Lee Specimen, MS67: Today, the finest known 1893-S is widely regarded as the Cornelius Vermeule-Jack Lee specimen currently certified MS-67 by PCGS. Legend Numismatics, sold privately for a price reported to be in excess of one million dollars to Coronet Collection.
2 : Goldman - Stone Specimen, MS65: Ex Elliot Goldman Collection; Antelope Valley Silver Dollar Collection, consigned to the following via Barry Stuppler; our (Bowers and Merena's) sale of the Antelope Valley Silver Dollar Collection, January 1993, lot 128; Mark Yaffe; Jefferson Coin and Bullion; Ralph Stone Collection; Sotheby's sale of the Ralph and Lois Stone Collection, May 2018, lot 107, realized $735,000 (Auction Record).
3 : Eliasberg - Simpson Specimen, MS65: Ex J. Colvin Randall, March 1894, likely obtained from the Assay Commission; J.M. Clapp; John H. Clapp; Clapp estate, 1942; Louis E. Eliasberg, Sr.; our (Bowers and Merena's) sale of the Louis E. Eliasberg, Sr. Collection, April 1997, lot 2294; Stellar Collection; Sunnywood Collection; Bob R. Simpson Collection; Legend Rare Coin Auctions' sale of October 2014, lot 190, realized $646,25; Wizard of Oz Collection
4 : Larry Miller - Hansen Specimen, MS65: Ex Larry H. Miller Collection (Stacks/Bowers 11/2020), lot #6362, realized $600,000.
5 : Carter - Wayne Miler Specimen, MS65: Ex B. Max Mehl's Golden Jubilee Sale, May 1950, lot 958; Amon G. Carter, Sr.; Amon G. Carter, Jr.; our (Stack's) sale of the Amon G. Carter, Jr. Family Collection, January 1984, lot 364; Wayne Miller; Superior's sale of the Wayne Miler Collection Morgan and Peace Dollar Collection, January 1986, lot 1306; Heritage's Early Spring ANA Sale of March 1995, lot 5688, realized $154,000.
6 : Unconfirmed Specimen, MS65: The current PCGS Population Report includes a fifth entry for the 1893-S dollar in MS-65, but we have been unable to determine if that entry represents a fifth coin or is a resubmission of one of the examples listed above.
NGC Certified GEMS:
7 : Norweb Specimen, MS66: The coin that was once regarded as the finest known 1893-S Morgan dollar, and previously certified MS-67 by NGC, that coin has since been "conserved" and now displays subdued surfaces. It has most recently been certified MS-66 by NGC. Currently on PCGS Condition Census Report as MS65 estimated grade (tied for #2).
8 : Sanderson Family Specimen, MS65: Ex Family Collection / FUN Signature (Heritage, 1/2009), lot 5025, which realized $299,000; (Heritage, 4/2013), lot 4378, realizing $258,500; M L Moser Collection, #1 NGC Morgan Dollar Registry Set (Heritage, 4/2014), lot 5310, realizing $329,000.
9 : Unconfirmed Specimen, MS65: The current NGC Population Report includes a second entry for the 1893-S dollar in MS-65, but have been unable to determine if that entry represents a different coin.
I think the StacksBowers Auction summed it up pretty well: Needing no introduction, even among more casual collectors, the 1893-S is the lowest mintage and, in terms of total number of coins extant, also the rarest circulation strike Morgan silver dollar. A number of factors explain the sharp reduction in silver dollar production at all U.S. coinage facilities in 1893. The most significant is the onset of a serious economic depression that would eventually be known as the Panic of 1893. This downturn would help keep yearly silver dollar mintages depressed through 1895. In 1893 the San Francisco Mint struck only 100,000 circulation strike Morgan silver dollars.
1893-S Morgan Dollar, MS65 Ex: Larry Miller
The coin was described as: Offered here is a phenomenal high Condition Census Gem Mint State example of this legendary key date Morgan dollar issue. Richly and attractively toned, both sides display blended antique gold, blue-gray and pale rose patina. Splashes of even more vivid reddish-russet toning are evident along Liberty's profile and in isolated areas around the peripheries on both sides. Razor sharp striking detail is noted, even on the hair curls over Liberty's ear on the obverse and the eagle's breast features on the reverse. The luster is full and frosty and the surfaces are remarkably nice for an issue that is rare even at the lowest uncirculated grade levels. One of our most important offerings ever for the issue, and a leading highlight of the fabulous Larry H. Miller cabinet, this lovely and exceedingly rare 1893-S will surely find its way into another world class Morgan dollar set. The history of the coin prior the Larry Miller Collection is not given.
1893-S Morgan Dollar is seventh and last coin updated from the Larry H. Miller Morgan Dollar Collection. The last few weeks have been educational in the study of the Morgan Dollars. I hope you have learned something, I know I did. I have shared seven of the eight Morgan Dollars that Mr. Hansen purchased in the Larry Miller sale. The coin that I did not share was the 1886-S Morgan Silver Dollar, MS-67 (PCGS), CAC Approved. This PCGS POP 5/0 coin realized $66,000. The certification number is 06553739. This Morgan Dollar series continues to fascinate hundreds and hundreds of collectors. The registry is approaching a thousand entries for the basic set. I do not believe any other series even comes close. For the Lincoln Cent Basic sets, the total is just over 400. I would expect to see more Hansen Morgan Dollar Updates in the future, but we will end the Morgans for now with this 1893-S MS65, CAC Approved, POP 5/1 PCGS specimen. Thanks for watching the past couple weeks. Any comments or suggestions would be more than welcome.
Provenance: Ex Larry H. Miller Collection (Stacks/Bowers 11/2020), lot #6362, realized $600,000.
1893-S Morgan Dollar MS65 PCGS POP 5/1, CAC Approved Certification #03134219, PCGS #7226 PCGS Value Guide: $735,000 / realized $600,000 Ex: Larry H. Miller Collection
After spending a couple weeks on Morgans, lets down shift and circle back to the Early Dollars. It appears that Mr. Hansen has his eyes on dollars throughout the different series. This update does not exactly make any improvement to the basic Hall of Fame set. Although, it does improve the Major Varieties Early Dollar set. If you missed the updates from the three purchases from Bruce Morelan’s Early Dollars Collection that was hosted by Legend Rare Coin Auctions back in October, this would be a good time to look back and refresh. Mr. Hansen was successful in buying three of them. For a quick recap, the first one was the 1795 2 Leaves, PCGS MS64+ CAC Approved, Ex: Lee/Morelan. The coin has a PCGS POP of 1/1 for the variety. The second was 1801 Draped Bust Dollar, MS65, Ex: Col." E.H.R. Green/Newman/Morelan (POP 2/0) and the third was the 1802 Draped Bust Dollar, Narrow Date, MS65, CAC Approved, Ex: Stickney/Eliasberg/Pogue/Morelan (POP 4/1). You may be asking why we are looking at these coins again. This new addition complements these purchases from a couple months ago.
There are five overdate die marriages for 1802 dollars. Each of these utilized obverse dies that were unique to those marriages, but some of the reverse dies were shared with other marriages dated 1801, 1802 and 1803. Die state studies reveal that the later dates were sometimes coined before the earlier dates, making the published mintages for each calendar year a bit misleading. BB-235 is rare, while the other four are relatively common. Mint State coins are scarce but available at a high price. Most survivors fall into the mid-grades of VG to VF, a typical situation for silver dollars of this period. The dollars of 1801-03 were well made in relation to earlier issues, with strong strikes from fresh or just moderately worn dies being the norm. (NGC). This new Hansen coin is a BB-234 and is the sole finest known certified MS64 by PCGS. There is a pair of 1802/1 “Wide Date” MS64 specimens. The other is a BB-233 that sold a couple months ago in the Bruce Morelan’s Early Dollars sale. The coin realized $193,875. Due to the CAC sticker on the Morelan coin (and lack of on the Pogue), that coin claims the title of “ABSOLUTE FINEST KNOWN 1802/1 dollar of ANY variety!”, according to Legend Race Coin Auctions.
The new Hansen coin was last publicly sold in The D. Brent Pogue Collection, Part V Sale hosted by StacksBowers on March 2017. The coin was described as Deeply Toned 1802/1 Overdate BB-234 Dollar, Tied for Finest Certified by PCGS. As stated before, this coin is tied with the Moreland B-233 Specimen. The details of the coin is described as: Lightly reflective and highly lustrous surfaces show a remarkable breadth of autumnal toning, encompassing amber, olive, rose and slate, against a backdrop of deep gray. Peeks of brilliance cling near some obverse design elements. Design elements are well defined overall, though the right obverse stars and some more localized areas show softness. Aside from two parallel marks right of star 2, contact marks tend to be scattered and very minor. The hairlines present are not easily seen. An area of shallow granularity appears as minor discoloration behind Liberty's head, far below LI of LIBERTY. Another is seen below reverse star 13, visible behind the eagle's neck but mostly struck out on his chest and the upper tip of the shield. The toning lends a look of old-time originality, an appealing contrast to most high grade examples of this date.
The coin can be traced to the Buddy Ebsen Catalog of coins sold by Superior Galleries' in June 1987. StacksBowers described the ownership as: Its known provenance begins with the 1987 Buddy Ebsen sale, featuring coins collected by the beloved television and stage actor. While Ebsen was an avid and knowledgeable collector of gold coins from the United States and abroad, he does not appear to have pursued silver coins with similar vigor. Its early provenance has not yet been traced. The coin was later offered in the Hain Family sale by Stack’s in 2002. The coin was recently offered for sale by Rare Coin Wholesalers. The sale of this coin was mentioned by Legend RCA in their October sale: the Buddy Ebsen-Andy Hain-Brent Pogue MS64 is NOT CAC, and is currently being offered at $160,000 by a well-known dealer. The $160,000 figure sounds about right to me. The coin and one other dollar coin, 1800 MS63, Cert #40542340 was purchased. The ask price on the 1800 specimen was $62,500. The ask price for the 1802/1 was $183,800. Maybe, Mr. Hansen got a bundle deal on the pair!
The 1802/1 Wide Date is a nice upgrade for the collection. It appears the purchase of the three Morelan Early Dollars have motivated Mr. Hansen to seek out more. I have found this to be a common pattern. Great coins in a series drive the need for even more great coins. The 1802/1 Wide Date coin makes a nice pair with the 1802 B-41 Narrow Date MS65 purchased in the Morelan sale. I am guessing that Mr. Hansen is not done with the Early Dollars. Let’s watch and see.
Provenance: Buddy Ebsen Catalog (not his coin), (Superior 6/1987), Lot #1922; Andrew Hain Collection, (Stack's 1/2002), Lot #1527, realized $132,250; D. Brent Pogue Collection, (StacksBowers 3/2016), Lot # 5040, realized $82,500; D.L. Hansen Collection (purchased from Rare Coin Wholesalers, 11/2020).
This is a great community of numismatic professionals and experts. Then you have someone like ColonelJessup. Rick has the memory of an elephant. I don’t know how he does it. Yesterday, I pulled this from an old StacksBowers sale.
The coin can be traced to the Buddy Ebsen Collection that was sold by Superior Galleries' in June 1987. StacksBowers described the ownership as: Its known provenance begins with the 1987 Buddy Ebsen sale, featuring coins collected by the beloved television and stage actor. While Ebsen was an avid and knowledgeable collector of gold coins from the United States and abroad, he does not appear to have pursued silver coins with similar vigor. Its early provenance has not yet been traced.
Rick provided and verified the real story. All the silver and some gold coins in the sale of Buddy Ebsen Collection were not actually from the actor’s collection. Again, this was not a Buddy Ebsen coin nor were the vast majority of the sale. The coins were the remaining inventory of New Netherlands Coins (Moritz, then Charles Wormser). Kevin Lipton bought the entire group and consigned them en masse to the Goldbergs Auction of the Buddy Ebsen Collection. According to Rick, this is common knowledge to many veterans, and now to all of us. Rick indicated that all the coins in the Ebsen sale up through and including the $3 gold was from inventory of New Netherlands. Thanks Rick for the clarity.
@LanceNewmanOCC said:
i just love visiting this thread from time-to-time and walking away with nothing but a big grin on my face from viewing all those ravishing coins!
It is not that surprising to me that we are back on the Morgan Dollars this soon. With the coins that Mr. Hansen purchased in the sale of Larry H. Miller Morgan Dollar Collection, he is fired up on Morgans. I thought I saw this coming after I talked a little about the Illinois Collection of Morgan Dollars a couple weeks ago. I indicated the set made a run for the top, but retiring in 2/12/2020 after reaching the runner-up spot all-time. I reported the set was assembled by Barry Stuppler and it took him 14 years, which encompasses five of the All-Time Finest Sets. Mr. Stuppler marketed the Illinois Set for $9.7 Million around the middle of 2019. I remember discussing the set with Mr. Hansen and John Brush late last year. The set was offered to Mr. Hansen, but I recall him saying at the time he was very happy with his #1 Prooflike Set of Morgans. Who would not be?
As stated before, Barry Stuppler ‘s desire was to keep the set together and sell intact. The set contained 12 PCGS POP 1/0 specimens; with most all the sole finest Illinois coins are from the Coronet Collection. After an unsuccessful attempt to sell intact, Mr. Stuppler broke the set and stated to sell individually. Well, now Mr. Hansen has decided to dip into the well, and it is a vast well of PCGS POP 1/0 specimens. The purchase made by The D.L. Hansen was for four PCGS sole finest specimens:
1881 MS67+ PCGS POP 1/0
1883-S MS67+PL PCGS POP 1/0
1898-O MS68DMPL PCGS POP 1/0
1903-S MS67+ PCGS POP 1/0
These four upgrades provided enough of a bump, that now the Hansen Collection is #4 in the all-time ranking. This is a move up from #6 and the first time ever on the all-time leader board for the Basic Morgan Dollars. It also represents a move into first place in the current rankings.
Of the four coins purchased, I believe two would be considered mid to high five figures and the other two low to mid six figures. For the biggie, the PCGS value on the 1883-S MS67+PL PCGS POP 1/0 specimen is $450,000. I will feature two of the coins starting with the 1903-S MS67+ PCGS POP 1/0 today. With the purchase of the eight Miller coins and now the four additional Illinois Top POP coins, The D.L. Hansen collection leaped from the 17th spot in the ranking just a few weeks ago to number four! I was expecting the focus to shift, but maybe not this quickly and intense.
1903-S Morgan Dollar, MS67+, Ex: Eliasberg/Lee/Simpson
The following is edited version authored by Q. David Bowers from my "Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia" (Wolfeboro, NH: Bowers and Merena Galleries, Inc., 1993): Quantities of 1903-S dollars were stored at the San Francisco Mint and paid out in small numbers over a long period of years, until November 1953, when several bags were released, followed by other dispersals during the next several years. At one time John Skubis owned a bag of this date. By the late 1950s, apparently most were gone from government storage. The issue was not represented to any extent in the 1962-1964 Treasury release. Most 1903-S dollars are well struck, very lustrous, and quite beautiful. The main problem is that there are not enough coins to satisfy the demand, and the issue has become high priced. This is an important, key issue. I have never handled a quantity of them, and few other dealers have either. In grades from MS-60 to 63, the 1903-S is one of the rarest of all Morgan dollars. In higher grades it is rare as well, but not in the top half dozen or so issues. I suggest that 1,000 to 2,000 survive in MS-60 to 62 grade, followed by an increase to 1,500 to 3,000 in MS-63, then back to 1,000 to 2,000 in MS-64, and, finally, just 400 to 800 in MS-65 or better preservation.
According to PCGS Rarity and Survival Estimates, they estimate 665 specimens in GEM condition. This sounds like a lot, but not really for Morgan Dollars with their popularity. For a very nice CAC Approved GEM, I would imagine you would be hard press to find one less than $10,000. Ruth Guth wrote: The 1903-S Morgan Dollar is a scarcer date and one which is tough to locate in all but the lowest grades. Uncirculated examples are scarce but not rare (the PCGS Population Report showed over 600 Mint State examples in November 2011), and the most frequently seen grade is MS-64. The finest 1903-S Silver Dollars certified by PCGS are a trio of MS-67's. Prooflike 1903-S Dollars are rare and Deep Mirror Prooflike examples are either exceedingly rare or may not even exist. Even as common as this coin seems, the 1903-S Morgan Dollar is considered a semi-key and carries a PCGS weight of seven.
This coin has a great pedigree and has been in many of the greatest collections of all-times. It is easy to understand why Mr. Hansen wanted this coin in his collection. The coin last appearance in a public sale was the 2014 Regency IX Auction in Las Vegas, NV. At that time, the coin was in a PCGS MS67 holder with CAC sticker. The coin was described by Legend as: This piece is tied for the finest known with the piece in the Coronet Collection. Besides killer, original toning, this coin is the epitome of perfection! It’s not often you can buy a coin, especially a Morgan, with a lineage that can be traced all the way back to the Mint. In addition, this was the last PCGS piece to sell at auction, when it was purchased by Sunnywood for $86,250.00 (Heritage 1/09). Since this sale, the coin has met the PCGS “plus” standard and is current the sole finest certified by PCGS. The coin realized $73,437.50 in October 2014.
Additional, Legend provides a fairly nice detail legacy of the coin: The better half of a match-toned pair of original superb gem Eliasberg Morgans (along with the 1902-S in this set), this is just a spectacular representative of this extremely tough late date in the series, and it is considered the finest known survivor. A lovely light gold and blue toned specimen with outstanding underlying luster; it is almost impossible to find this quality and originality in a 1903-S. Fortunately, the Clapp-Eliasberg collection included many such coins carefully preserved at or near the time of original issue. If anything, the best of the Eliasberg Morgans are still underrated! Purchased directly from the San Francisco Mint by J.M. Clapp, October 1902; to his son J.H. Clapp (1906); Clapp estate to Louis E. Eliasberg, Sr. (1942); to his son Richard A. Eliasberg (1976); Bowers & Merena, Eliasberg Sale (4/8/97:2321); Gary Wolkwitz; Heritage, Long Beach Signature Sale (6/1/01:6656); Jack Lee 2, Heritage 2009. Maybe the coin in 2014 was underrated, but not anymore.
The coin holds the auction record for 1903-S Morgan Dollar. In The Arno Collection which was auctioned by Heritage in January, 2009, it set an auction record of $86,250. In the auction, the coin was described as: The present coin is a magnificent specimen. The surfaces exude satiny luster underneath hints of heather, gold, and blue toning. The fields are well preserved, and the finely detailed devices show no distractions. The eye appeal is spectacular. This coin is simply one of the finest known specimens of this key date, and it boasts an illustrious pedigree. The sale included a fascinating story of the original owner: John M. Clapp was the patriarch of a family of distinguished numismatists. He was one of the first collectors to systematically order coins from the branch Mints every year. When he died, his collection passed to his son, John H. Clapp. In much the same way that T. Harrison Garrett's sons became the custodians of his collection after his death, the younger Clapp picked up where his father left off. John H. Clapp purchased coins at some of the most important auction sales of all time, including the George Earle Sale (Henry Chapman, 6/1912), where he acquired the finest known specimen of the ultra-rare 1825/4 half eagle. After Clapp's death, his collection (including the present coin) was purchased intact by Louis Eliasberg, and became the foundation for one of the greatest collections of all time. Eliasberg is the only collector to ever complete a collection of U.S. federal coinage by date, mintmark, and major variety.
Great coins have a way in making their way into great collection. Without the motivation gained by the Larry H. Miller Morgan Dollars, this coin may not have ever made its way into the D.L. Hansen Collection. It is really interesting how these things work themselves out. Mr. Stuppler listed the coin on his Mint State Gold website for $210,000. The coin has just set there for several months. He described the coin as: This FINEST KNOWN Morgan has toned surfaces. The majority of the surfaces have a light earthy tone with mauve undertones but hues of blues, purples, and burnt orange can also be found. Bold devices are strikingly articulated against predominantly clear fields. Beaming with original mint luster and coming to life in intricate details, this numismatic treasure is sure to elevate any collection or portfolio. He gave credit as being from the Eliasberg Collection: Here is a 1903 San Francisco $1 Silver Morgan Dollar, which has graded MS67+ by PCGS and has been holdered with the prestigious Illinois Set label. This Morgan is perfect for PCGS registry set collectors. Prior to the Illinois Set, this Morgan belonged to the also well-renowned Eliasberg set. Interesting, no mention of the other great collections this coin was in, Jack Lee, Bob Simpson, John H. Clapp, etc. The coin label pedigrees Eliasberg/Illinois Collection only. I hope Mr. Hansen at some point in the future; have all his top coins completely pedigreed as they rightfully should be. I will show you the top Stuppler purchase in a couple days, the 1883-S MS767+PL. Please wait and watch.
Provenance: John M. Clapp Collection, purchased from the San Francisco Mint in 10/1903; John H. Clapp Collection, sold intact in 1942 to Louis E. Eliasberg; Louis E. Eliasberg, Sr. Collection, (Bowers & Merena 4/1997), Lot #2321, realized $30,800; Gary Wolkwitz Collection, (Heritage 5/2001), Lot #6656, realized $40,250; Arno Collection, (Heritage 1/2009) Lot #5067, realized $86,250; Jack Lee Collection; Sunnywood Collection; Bob R. Simpson Collection, (Legend Auctions 10/2014) lot #220, realized $74,438; Illinois Set Collection (PCGS Set Registry), offered by Barry Stuppler (Mint State Gold), D.L. Hansen Collection.
1903-S Morgan Dollar MS67+ PCGS POP 1/0, CAC Approved Certification #37728328, PCGS #7288 PCGS Value Guide: $175,000 / Asked $210,000 From Illinois Collection, Ex: Eliasberg/Lee/Simpson
Comments
$5 indians in gem or better with cac approval are difficult to find a trade at a big premium. Nice addition.
I show that the 1914 MS66 CAC $5 sold in the Simpson sale for $168,000. It originally comes from the O’Neal collection.
Ding, ding, ding!
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
Currin, I show the provenance for Mr. Hansen's new PCGS MS66 CAC 1914 Half Eagle as:
Stack's/Bowers 8/2011:7700 (as NGC MS66 CAC), not sold - Great Collections 8/2020:873875 (as NGC MS66 CAC 1711199006), $70,936.88
Ron Guth, Chief Investigator
The Numismatic Detective Agency
1892 Proof Set
I am not sure how many proof sets were produced in 1892. The mintage given to individual coins is 1245, and one cent at 2745, so there must have been quite a few sets sold. This set is one of the survivors, at least for the moment. The set was offered a couple months ago by Harlan J. Berk, Ltd. On their website, it indicates: Harlan J. Berk, Ltd. is located in the historic Chicago Temple Building which opened in 1924. Since 1947, this has been one of the premier coin store locations in the country. The description of the store is very interesting: Located in Chicago’s Business District, Our ground-level retail store features 18 windows along Clark Street displaying an array of U.S., world, and ancient coins, currency, antiquities, and historic maps and prints. Enter the storefront and you will find a good, old-fashioned coin store. There are various displays of coins and currency along with a large selection of books and supplies for the collector. If ever in Chicago, it could make an interesting visit.
The set was listed as: $1 1892 USA Morgan Dollar, 1892, $1, PR68 DCAM, PCGS/CAC, Complete Proof Set - All CAC. Naturally the 1892 PR68 DCAM Morgan Dollar is the headliner. The remaining coins are pretty decent as well: Original 1892 Proof Set - sold as a set. All coins in this remarkable set are PCGS graded and CAC verified. Grades are as follows: 1c - Proof 66 Red, 5c - Proof 66 CAM, 10c - Proof 68 CAM, 25c - Proof 67+ DCAM, 50c - Proof 67 DCAM, $1 - Proof 68 DCAM. Along with coins came an interesting story: Without a doubt the finest Proof set we've handled and I believe one of the finest Proof sets obtainable. Harlan J. Berk, Ltd. purchased the set, intact, from a Chicago family who's great, great Grandfather purchased the set from the Mint at the conclusion of the 1892 Columbian Expo held in Chicago. The family indicated he was a collector, a well known physician and worked at the Expo. Research indicates the Mint did in fact have a display of their current coinage at the expo. Absolutely original and quite amazing! The Dollar is the finest known by three grade points, the Half has just one coin graded finer at a 67+ and the Dime has only one coin graded finer as a 68+. The ask price for the set was $152,250.
This is not the first appearance of this set. The set was called the “Columbian Expo Set” in the PCGS registry. The set may have been owned by Patrick J. Mullen. The same account list a couple sets with that name. Also, there is a coin dealer with the same name. I don’t have a firm connection, so take this info with caution. The Columbian Expo registry set was first published in March 2004 and retired December 2006. The set remains number one in registry, but this should change when the Hansen Collection is upgraded.
We do not know the details on the purchase of the set. We do know at least four coins ended up in his collection. The four coins were the perfect compliant to the Hansen set. Being the Hansen registry set is closed for public view, it may be some time before we will see the updates in the set.
1892 1C, RB PR66RB Cert #31487480 replaced with PR66RD Cert #25515012, POP 18/19
1892 10C PR67+ Cert #35320064 replaced with PR68CAM Cert #25515014. POP 1/1
1892 50C, DCAM PR66+ DCAM Cert replaced with PR67DCAM Cert #25515016, POP 1/10
1892 $1, CAM PR67CAM Cert #81331021 replaced with PR68DCAM Cert #25515017, POP 1/0, Sole Finest PCGS certified
1892 5C, CAM PR67CAM Certification #25271397, POP 4/3 remains
1892 25C, DCAM PR68DCAM Certification #06055615, POP 5/2 remains
Also the set contains PCGS Condition Census Top Five coins for three of the four proof gold coins. The only missing coin in the set is the 1892 Eagle.
1892 Morgan, PR68DCAM, CAC Specimen, Ex: Columbian Expo Set
All the coins are great additions, but I will focus on the PCGS Pop 1/0 Specimen. If you like Morgan Dollars, you have to love this coin. The 1892 Morgan Proof Dollar is not rare, but is difficult to find in high grade DCAM. This PR68DCAM does not have a close competitor. The next highest PCGS grade in DCAM is PR65+. This is a pretty nice little gap. Only four 1892 DCAM has been PCGS certified, two PR64DCAMs, the PR65+DCAM and the Hansen PR68DCAM, CAC Approved.
So, rarity is the name of the game for 1892 Morgan DCAMs. In a recent Heritage description for a different coin: The proof 1892 Morgan dollar's high mintage in relation to other proof issues in the series makes it plentiful today. However, quality is lacking on most survivors. Dave Bowers and Wayne Miller have both described the 1892 proof as frequently coming poorly struck, and a glance at auction appearances reveals that the issue is decidedly rare in Superb Gem condition. Cameos are in a minority, and only the most patient and well-heeled collectors can attempt to acquire a rare Ultra Cameo, such as the coin offered here.
The appearance of the coin is stunning, but not colorful. If you love color, this is not the coin for you. The coin is valued by PCGS price guide at $65,000. Naturally, if the coin was purchased in a set, we do not know what the coin actually realized. The D. L. Hansen Proof Collection is really shaping up.
1892 Morgan, PR68DCAM, CAC Specimen
Certification #25515017, PCGS #97327, POP 1/0
PCGSGV: $65,000 / Unknown
Ex: Columbian Expo Set
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Proof Upgrade
As I reported just few weeks ago, the U.S. Coins Complete Basic Set, Proof (1801-1964) has surpassed 75%. PCGS describes the set as: Every basic classic U.S. coin in Proof from 1801 through 1964, this set is one of the greatest challenges in the Registry. A collection of this size could take many years to assemble in high grade. I have not discussed this before, but it appear to me, Mr. Hansen is building his proof set on some of the principles we have seen on the Hall of Fame Mint Strike Collection. Quality, Appearance, and Condition Census. For example, while observing the 1145 pre-1964 Proof Set, there is presently 231 DCAM specimens of the 874 coins currently listed 26.5%. Another 292 specimens are CAMs 33.4%. The means 60% of the proofs are Cameos or better. In last update, there we saw seven upgrades with all being CAMs with one Indian Cent upgraded with a RED. This is becoming a fun set to watch.
If we focus in on the 1871 proof set, we will find an outstanding group of coins (note: this is not the complete 1871 set). As you can easily see, the new 1871 PR64DCAM would probably not be considered as the showcase coin. The coin is tied with other for the finest DCAM, therefore the coin is not a POP 1/0 specimen as six other coins in the date set. This is not uncommon for the other date sets. As you can see, the Three Dollar and Double Eagle are still missing for the date. When all is said and done, the proof collection will be simply amazing.
1871 Eagle PR64DCAM
The 1871 Proof Eagle has a mintage 30. This dated comment was offered by David Akers: The proofs of this date are rarer than the mintage would indicate and thus are among the rarest of the With Motto type. I would estimate that only 7-8 survive, and only the Garrett and Kaufman examples have appeared on the auction market in over 30 years. According to PCGS Auction history, six PR64 specimens have been offered starting with Eliasberg ‘s PR64 coin offered by Bowers & Ruddy in October 1992. The coin realized $33,000. Eight years later, the Harry W. Bass PR64 PCGS specimen was offered by Bowers & Merena in November of 2000. The coin realized $29,900. The Trumpeter PCGS PR64 DCAM was offered at Heritage’s 2002 (FUN) Signature Sale and again eleven years later in Heritage’s 2013 US Coins Signature Auction where coin realized an auction record of $76,375 that still stands today. The two most recently offers have been the new Hansen Specimen that I will discuss a little later.
In the 2013 Trumpeter sale, Heritage offered a Roster of the ten known Proof 1871 Liberty Eagles:
1- Eliasberg Specimen, Choice Brilliant PR65. Possibly Harlan Page Smith Collection (S.H. & H. Chapman, 5/1906), John H. Clapp; Clapp estate, Louis Eliasberg via Stack's in 1942; United States Gold Coin Collection (Bowers and Ruddy, 10/1982), lot 736.
2- Trompeter Specimen, PR64 Deep Cameo PCGS. Ed Trompeter; FUN Signature (Heritage, 1/1999), lot 8233; Long Beach Signature (Heritage, 6/1999), lot 6589; Exclusively Internet Auction (Heritage, 4/2001), lot 2498; Exclusively Internet Auction (Heritage, 11/2001), lot 1585; FUN Signature (Heritage, 1/2002), lot 8320, the present coin.
3- Smithsonian Specimen PR64 Deep Cameo. National Numismatic Collection, Smithsonian Institution, purchased from the Mint on February 10, 1871, grade by Jeff Garrett and Ron Guth.
4- Bass Specimen, PR64 PCGS. Hebbeard Collection (H.P. Smith, 4/1883), lot 382, part of a six-piece gold proof set; T. Harrison Garrett; Robert Garrett; John Work Garrett; Johns Hopkins University; Garrett Collection (Stack's, 3/1976), lot 441; Harry W. Bass, Jr.; Harry Bass Collection, Part II (Bowers and Merena, 10/1999), lot 1522; Harry Bass Collection, Part IV (Bowers and Merena, 11/2000), lot 698.
5- Reed Specimen,Proof, Byron Reed; City of Omaha; Byron Reed Collection (Spink America, 10/1996), lot 163.
6- Kaufman Specimen,Brilliant Proof. N.M. Kaufman Collection (RARCOA, 8/1978), lot 881.
7- PR58 NGC. FUN Signature (Heritage, 1/2012), lot 4985;
8- Norweb Specimen, PR45. Peake Collection (New Netherlands, 6/1955), lot 152; Norweb Collection, Part II (Bowers and Merena, 3/1988), lot 2199.
9- Bass Second Specimen, PR40 ANACS. Gilhousen Sale, Part I (Superior, 2/1973), lot 700; Harry Bass Collection, Part III (Bowers and Merena, 5/2000), lot 671; FUN Signature, 1/2005), lot 9316.
10- ANS Specimen, Proof. A specimen in the collection of the American Numismatic Society, previously from R.C.W. Brock and J.P. Morgan.
I have not been able to link the Hansen Specimen to any of the 10 known coins on the 2013 Heritage list. The coin first appeared in a February 2016 Rarities StacksBowers Auction. Described as: Exceedingly Rare Proof 1871 Liberty Eagle, Only 10 to 12 Known. It was listed as: Top PCGS Grade in 1871 Liberty Eagle. Proof-64 Deep Cameo (PCGS). Secure Holder. The rarity of the coins as described as: The Proof 1871 Liberty eagle entered the annals of numismatic history as a rare issue with just 30 examples originally struck. Only 10 to 12 of those coins are believed extant, two of which are permanently impounded in the collections of the Smithsonian Institution and American Numismatic Society. Of the specimens that are in private hands, at last three are impaired, indicative of the fact that many Proof gold coins from this era were placed into circulation during the late 19th century. The opportunity to acquire a Proof 1871 eagle of even marginal quality is a rare and important event for the advanced specialist, while the acquisition of this exquisite Choice Proof would be a defining moment in any numismatic pursuit.
The coin was offered for the second time in July 2020 in a David Lawrence Rare Coin Auction that closed Sunday, July 26, 2020. The coin was described as: 1871 $10 PCGS Proof 64 DCAM, Finest Known Rarity! DLRC detail description: Tied for the finest example graded with one other piece, this is a stunning example of an extremely rare date. Seldom seen in either business strike or proof format. From a proof mintage of just 30 pieces, 10-12 examples are estimated to have survived. The present example is fully struck and remarkably preserved. The satiny devices contrast starkly against highly reflective mirrors both tinted even yellow-gold. The eye appeal is astonishing! Previously sold in 2016 for $70,500 and in 2013 for over $76k! The coin realized $70,500 and in an interesting fact, this is the exact same amount that was realized in 2016 StacksBowers sale.
It would be nice if we could trace that coin to an early owner. It does not appear to be listed on Heritage’s ten coin list. We know of early appearances of the 1871 Proof Eagle from famous collections of Lorin G. Parmelee, Thomas Cleneay, F.C.C. Boyd, and William Cutler Atwater to name a few. The Atwater coin was described with no picture as “Prefect sharp brilliant proof with wire edge. A perfect gem, and as such, very rare and valuable”. The coin realized $235 in 1946. The Hansen 1971 Proof Eagle coin is still truly amazing coin, if an historic connection is never made. I am not sure that I see why this eye candy is not a GEM, anyone care the elaborate?
Provenance: Rarities Night (StacksBowers 2/2016), lot 226, realized $70,500; (David Lawrence 7/2020) #2102232, realized $70,500, D. L. Hansen Collection.
1871 Eagle, PR64DCAM PCGS
Tied Finest Certified DCAM Proof 1871 Eagle
Certification #25223370, PCGS #98811
PCGSGV: $76,000 / realized $70,500
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
This may be a dumb question. How are you learning about his newest acquisitions if his set is closed to the public?
IG: DeCourcyCoinsEbay: neilrobertson
"Numismatic categorizations, if left unconstrained, will increase spontaneously over time." -me
Wow! The photos make that look much nicer than a 64! I wonder what's holding it back.
Agreed, looks near perfect in the photos. My guess - hairlines in the fields that don't show up in the trueview.
Hard to tell from pictures but the fact that it isnt stickered tells me it properly has some hairlines that are hard to see in the picture. CAC is very strict on proof gold and that is probably what is holding it back from a higher grade. Regardless, a spectacular coin.
Great coin! Super rare. It would be one of the few NON-CAC coins I would buy. Yes CAC is tough which why most non CAC are actually one grade lower. Why do people even debate this? it is true in most cases.
I would pay the same price for a CAC 63+DCAM which this coin more than likely is. Wonderful coin! Unlikely to find another.
Maybe next time offer a layaway plan?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Not that it's necessarily worth any more today, but that seems like a great value.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I see many sets not closed.
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Not a dumb question. Great question actually. I can confidently say that it’s not because I have psychic abilities.
Last time I looked, Mr. Hansen’s collection had 1696 registered sets. Before he announced closing them, all were open. There are still a few that are open for public viewing, but not many. I watch for updates by using the New and Updated Set in the Set Registry News feature. This will show all sets that are updated (last five days), even the closed one. The trick is finding a set that is not closed to the public. As I said, out of the 1696 sets, there are a very few. Below is a screenshot of what I am saying. As you can see, for the proof updates that I have been showing last couple postings, there are a couple proof sets opened. As you can also see, he updated the Barber sets. I can see how many coins he updated in the sets, but I cannot determine the actually coin(s). So, I do not know all the upgrades that are occurring in all the sets as before.
Just to be transparent. On a few occasions John Brush will give me a tip on special purchases if I ask him. He was gracious enough to reply by giving me information on the five Simpson coins and the three Morelan Dollars a few weeks ago. The updates on the proofs was purely by my watching and searching, as anyone here can do.
I hope that help. In the mean time, I am working on my psychic abilities.
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My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
It's an amazingly beautiful, top pop, ultra low mintage coin. What's not to like?
Liberty Gold Dollar Update
In my last Liberty Gold Dollar Update, the featured coin was the 1861-D Gold Dollar, MS64+, Duke Creek/Simpson specimen from the Bob Simpson sale offered by Heritage Auctions. This update does not reach that altitude, although it is a great upgrade to the little shiny coins. The D. L. Hansen Collection of One Dollar Gold is probably the best ever assembled, according to the PCGS registry. The circulation strikes have surpassed collections assembled by Harry W. Bass, Louis Eliasberg, Smithsonian, J.S. Morgan, Norweb Family, J.J. Pittman, Steven Duckor, and more. Many of these collections did not even reach 100% complete. If you consider the proof coins, the Collection ranking is also at the top. The Hansen Set tops sets assembled by Ed Trompeter, Garrett Collection, and not mention names like Bass and Eliasberg from the first list.
The PCGS One Dollar Gold Basic, Circulation Strikes (1849-1889) registry set consists of 76 coins. The set is described as: This long-lived series is composed of three different types and includes rarities from such romantic Mints as Dahlonega, Charlotte, and New Orleans as well as San Francisco and Philadelphia. These small coins are rich in history, and many issues were minted in extremely small quantities. Some of the low-mintage dates were hoarded in Gem condition, most notably those of 1879-89, while others are unknown in Mint State 65 or better. This is another series that is filled with rarities, but it makes a magnificent set when completed. The set has 46 coins (60%) PCGS certified MS65 (GEM) or better. There are 23 coins finest certified by PCGS with ten coins graded POP 1/0. The lowest grade in the set is a pair of AU53 Dahlonega gold dollars (1855-D and 1856-D). The new coin is a MS68 specimen. Does it get any better?
1850 Gold One Dollar MS68, CAC Approved, Ex: Eliasberg
I asked does it get any better. Well, the answer is yes, when the coin is a MS68 with an Eliasberg Pedigree. This coin is one of the highlights from the Louis Eliasberg #3 All-Time PCGS Set of One Dollar Gold. The set is described as: The Eliasberg gold dollar collection was complete as a basic set. It did not include the ultra-rare 1849-C Open Wreath variety. Like other Eliasberg sets, his gold dollar set was a mix of proofs and circulation strikes, as was the collecting custom prior to the 1980s. The Eliasberg circulation strike Gold Dollars featured many high quality examples and all the rare branch mints. Highlights include the spectacular 1850 in MS67 which caused quite a stir at the Eliasberg sale when it brought a then eye popping $11,000. As stated here, when the Eliasberg coins were sold in October 1982, the new Hansen specimen was graded MS67 and realized $11,000. The history of the coin according to Eliasberg: He purchased the coin when he acquired the John Clapp collection in 1942, earlier from the George Crawford collection, auctioned by Charles Steigerwalt in 1894. The coin as purchased at the Bowers & Ruddy Oct '82 Eliasberg sale by Fred Weinberg. Legend Auctions commented: In the 1982 Bowers and Ruddy Sale of the United States Gold Coin Collection (Eliasberg), this coin appeared as lot 6, where the cataloger clearly describes this coin as being a possible "presentation striking." Regardless, today, it rates as one of the absolute FINEST Type One gold dollars of any date, and has a look that will delight any serious gold collector.
I am not sure I would describe the coin as a presentation strike, but it does have a unique appearance. Look for yourself. The coin’s appearance was described on May 14th of this year in the Legend - Regency 38 Auction. In the auction, the coin was described as: Virtually perfect in every way, this coin is a delight to behold. The bold, brilliance of the wonderful golden luster booms all over. Both sides offer the sharpest striking definition, the die polish lines clearly visible in the fields. The devices are thickly frosted, while the surfaces have a rich, satiny glow that has touches of Prooflike flash in the obverse fields. Every detail is razor sharp, a masterpiece survivor of this early Type One gold dollar. The coin realized $88,125, an auction record.
According to Legend, In SUPERB grade, the 1850 is virtually unobtainable; indeed the grading service populations combined in MS67 through MS68 represents a total of FOUR COINS, this coin accounts for three of them! The only other example is the Akers/Duckor MS67. There are now two MS68 specimens. Can I safely say the other coin is an upgraded Akers/Duckor specimen? Even If the coin cannot claim to be the finest, as stated just five months ago by legend: This is the SINGLE FINEST 1850 gold dollar that survives, the ultimate in grade, eye appeal, and with the Eliasberg name, the ultimate in pedigree! The coin is without question, tied for the finest!
The coin was offered for the second time in 2020. This time Mr. Hansen did not flinch in pulling the trigger. The coin was offered in GreatCollections Auction last Sunday night, October 25th. The coin had an open bid of $81,500 and Mr. Hansen won the coin on one unchallenged bid. The final cost with buyer’s fee was $91.687.50. This is a new auction record, but I don’t think PCGS will recognize it for setting the new mark. The coin replaces PCGS Condition Census 1850 G$1 MS66+ Certification #39265141, POP 2/3. The new CAC Approved Eliasberg/Hansen coin is a great update. I hope you agree.
Provenance: George Crawford Collection, (Charles Steigerwalt 1894); Matthew A. Stickney Collection, (Henry Chapman, 1907), John H. Clapp Collection; Clapp sold intact in 1942 to Louis E. Eliasberg; Louis E. Eliasberg, Sr. Collection, (Bowers & Ruddy 10/27/1982), Lot 6, realized $11,000, purchased by Fred Weinberg; Fontaine Collection, (Bowers & Merena 8/2010), lot 1430, realized $54,625; Victoria Rose, (Heritage 1/2013), lot 5775, realized $55,812.50; The HFW² Collection, (Heritage 1/2020), lot 4312, realized $88,125; (GreatCollections 10/2020), Item 895332, realized $91,687.50, purchased by D.L. Hansen Collection
1850 Gold Dollar, MS68, CAC approved
Certification #38999517, PCGS #7509, PCGS POP 2/0
PCGSGV: $90,000 / realized $91,687.50
Ex: Stickney/Eliasberg
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Formatted version of recent sales of this coin (added grade column):
The Dukor/Akers example last sold in 2015-3 for $32,900 as PCGS MS-67 CAC.
https://www.pcgs.com/auctionprices/details/1850-ms/7509
Then sort by grade.
I used Markdown table syntax to format the above table, if anyone is curious:
https://www.markdownguide.org/extended-syntax/#tables
My YouTube Channel
I just need to say that this coin is INSANE!
Great pickup!
Do we know who is behind the Columbian Expo Set?
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Hi Clint,
I really like to look of the table, clear and precise. Is there a reason you did not include the seller/consignor? This is important information. I see you have is embedded in venue for Eliasberg.
Side note: I wonder if the coin broke two figures in the George Crawford sale.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
I agree - the table I constructed is not complete.
The consignor / collection name can often be interesting for high end coins.
I made the table similar to the ones I make in the LS half dime guide,
where the coins are often not high end, and there is limited page width.
Proof Silver Three Cent Upgrade
This update is about the little silver pieces. Ron Guth described these little coins as: The United States Three Cents is an unusual denomination that first appeared in 1851, although pattern coins for the denomination were produced in 1849 and 1850. The original purpose of the Three Cents coins to provide an intermediate denomination between the Cent and Half Dime, making it easier to change some of the odd foreign coins that were legal tender in America at that time. In 1851, postal rates were dropped from five to three cents. While three Large Cents could have been used to purchase a postage stamp, the bulky copper coins were expensive to produce. Thus, a coin of three cents value had two purposes, enough to get the denomination started in 1851.
They were produce in proofs, starting with the rare 1851. Mr. Hansen purchased PCGS Hall of Fame Legend Collection Proof Set assembled by Laura Sperber. The Three Cent Silvers with Major Varieties and 1851, Proof (1851-1873) set achieved the Hall of Fame honor in 2016. PCGS describes the set as: The Legend Collection of With Varieties “Trimes” is the finest collection ever assembled and, with the inclusion of the unique Proof 1851, the only set that can ever make that claim. In terms of weighted GPA, the Legend collection is a full 2.5 points ahead of its nearest competitor, an insurmountable obstacle until this collection is ever sold or broken up. There are so many wonderful things going for this set – virtually all of the coins are Top Pops and thirteen of the coins are unique Top Pops. The colorful toning and exceptional eye appeal of so many of the coins is remarkable.
Since the purchase, Hansen has improved five coins with today’s update. The four previous upgrades are as follows:
1858 3CS PR67 Certification #25254315, POP 3/0, replaces Sperber’s POP 1/5
1870 3CS, CAM PR68CAM Certification #30773746, POP 1/0, replaces Sperber’s POP 1/2
1872 3CS PR68+ Certification #30773748, POP 1/0, replaces Sperber’s POP 2/1
1873 3CS, CAM PR67+ CAM Certification #30773749, POP 1/0, replaces Sperber’s POP 4/2
This is another PCGS POP 1/0 specimen added to the 20 coins set / 23 coin varieties. With this update, the set has 11 PCGS POP 1/0 coins, and six others tied as finest PCGS grade specimens. There are two additional PCGS Condition Census Top Five. One coin is not a Condition Census, 1867 PR66+ Finest graded DCAM. There are 15 proofs, including seven CAM that are graded higher. The basic set is open for viewing, take a look at this set for yourself.
https://www.pcgs.com/setregistry/two-three-cents/three-cent-silvers-major-sets/three-cent-silvers-basic-set-proof-1854-1873/alltimeset/159002
1864 Three Cent Silver, PR68+ CAM
The coin was recently offered by Numismatic Financial Corporation (NFC) Coins. The coin was described as Finest PR CAM of any Date! I believe the coin to be the finest period! According the PCGS POP Report, there is one PR68+ graded coin, the Hansen 1872 PR68+, Certification #30773748 that I mention above in the update list. He now adds the second and only other PR68+ graded Three Cent Silver, the 1864 PR68+ CAM.
The coin was described by NFC Coins as: Magnificent Ultra Gem Proof with amazing technical quality and appeal! Fully impressed, satin-textured devices against pronounced reflectivity in the fields. Intense electric blue and red-violet hues surround the rose-gold toning of the central obverse. The reverse displays a beautiful peacock blue over the denomination with subtle citrus pastels peripherally. Produced during the penultimate year of the Civil War, the 1864 silver three-cent piece emerged during a time when silver coinage was no longer found in circulation in the Eastern and Midwestern United States. Such pieces had disappeared from commercial channels in the spring of 1862. The circulation strike mintage for this issue amounted to a mere 12,000 pieces. Even common date silver three-cent pieces such as the 1851, 1852 and 1853 are notable condition rarities when offered in the finest Mint State grades. To encounter a Superb Gem survivor of a scarce, low mintage issue such as the 1864 is even more remarkable. Deserving of a place in an advanced PCGS Registry Set. PCGS Population: 1; none finer. The sole finest Cameo Proof 3CS certified by PCGS. I guess we can call the Hansen set of Three Cent Silver as an advance set.
I cannot find any additional info on this great coin other than, it was offered around September 25th by NFC Coins with ask of $90,000. The PCGS value for the coin is $75,000. The finest coin sold in auction was an 1864 PCGS PR67+ CAM CAC sold by Legend’s Auctions, May 2018. The coin realized an action record of $31,725. I am not sure what Hansen’s coin would realize in auction, but certainly would set a new record. There is no additional provenance known on this specimen.
1864 Three Cent Silver, PR68+ CAM
Sole finest Cameo Proof 3CS certified by PCGS
Certification #37372987, PCGS #83714
PCGSGV: $90,000 / Ask $75,000
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
It's amazing that the four coins you mention are all CAC. Hard to believe there are were four CAC coins better than the examples in the Legend set that DLH purchased. Nice additions! Sadly the 1864 is not CAC making it a probable 67, and the only coin in the set that is not CAC. Amazing looking coin though! Nice set!
Proof Quarter Dollars New Addition
The last discussion on proof quarters was the Seated Liberty Proof Quarters set, (1838-1857) back in the July timeframe. The specimen in this update predates that set and is an early proof quarter. The coin does not meet many of my criteria for providing an update. First, the specimen is not a six figure coin. It is not a top pop coin, although it is a condition census. The coin does not have a rich history that I can trace. The coin does not make a significant impact to main set, Early Quarters Basic Set, Proof (1820-1838). According Hansen’s close set, there are three coins listed. The coin was purchased months ago, and the set has not been updated. This is really a hard set and PCGS describes as: No matter how you slice it, this set is tough. No coin in the set is priced below $55,000 in Proof 64. PCGS has graded just 58 coins and several dates have had only 1 or 2 graded. Completion of this set could be a life-long quest.
Well, why I am providing this coin as update? As PCGS describes “no matter how you slice it” an early quarter is tough. Besides that, the coin is eye catching and rare. The mintage for an 1834 Proof Quarter Dollar is 10. I believe the Finest Known coin to be the PR67CAM PCGS graded Green/Pogue specimen that realized auction record of $329,000 in 2015 Stack’s/Bowers & Sotheby’s. I don’t have roster of the known coins. If the finest is the Pogue, the next finest may be the thePR66+ from the Eric P. Newman Collection. There could be a couple more in comparable condition. This new Hansen Pop 2/3 is a nice coin, so let’s take a closer look.
1834 Proof Quarter Dollar PR64+
The known specimens were described in detail in the Pogue sale: Two proof 1834 B-2 quarters are pedigreed to "Col." E.H.R. Green and Eric P. Newman -- the present coin, and another that Newman donated to Washington University in St. Louis (circa 1952-4). The Washington University coin was then sold to New Netherlands Coin Co. in New York, and later into the Norweb Collection. A third example exists in the National Numismatic Collection at the Smithsonian Institution. The fourth example is part of the "King of Siam Set," about which Newman and Kenneth E. Bressett wrote in The Fantastic 1804 Dollar (1962). With one example in the Smithsonian Institution and another part of the King of Siam Set, only two of the four 1834 proof coins known are individually available to collectors -- the present "Col." Green-Newman example and the Green-Newman-Norweb coin, graded PR67 NGC. This Newman Collection coin, graded PR66+ ★ with the added Ultra Cameo designation, is the only proof 1834 B-2 with either the Cameo or Ultra Cameo designation, although it is rated one point behind the PR67 NGC non-Cameo coin cited above. It is our opinion that, because of the Ultra Cameo appearance, this coin has the most eye appeal of the four examples known. This Newman specimen is also the plate coin in Early Quarter Dollars of the United States Mint, page 262. On the facing page a wonderful photo and caption appear, of the coin "resting on the photo box just before turning on any camera lights." Rea added, "Nice Cameo look!"
In addition, this synopsis was provided by StacksBowers: A total of 286,000 quarters were minted for circulation in this calendar year, but only a tiny handful were struck as proofs. Walter Breen's Complete Encyclopedia states that "at least six proofs" exist for the 1834 B-2, B-3, B-4, and B-5 die marriages, adding "2 proofs seen" for the 1834 B-1 quarter. Rory R. Rea, Dr. Glenn Peterson, Bradley S. Karoleff, and John J. Kovach Jr., authors of Early Quarter Dollars of the United States Mint 1796-1838, cite four specimens of the 1834 B-2 in proof, but they enumerate no proof examples for any of the other 1834 varieties.
As for PCGS graded, there is one proof coin graded finer, a PR65. This does not include the two CAM specimens, which brings the POP to 2/3. I don’t know any history on Hansen coin. If someone can trace, that would be great. It was purchased in a David Lawrence Auction. The coin was described as: Rare Issue, Gorgeous Toning In the July 19, 2020 auction, the coin was detailed as: One of less than a dozen known examples! This fully struck near gem proof has stunning eye appeal. Beautiful reflective surfaces, especially on the reverse, and amazing toning presented in a target of gold, blue-green, violet, and rose shades on both sides. A rare and exciting opportunity for the specialist. PCGS+ grade for premium quality at the top of end of the assigned grade. The coin realized $62,000.
It will be interesting to watch and see if Mr. Hansen is starting to focus more on Early Proof Quarter Dollars. This would be a cool set to complete. Dr. Charles Link is well on the way with his set, 11 out of 16 coins (68.75%). Even J.J. Pittman only completed 50% of his collection of Early Proof Quarter Dollars. According to PCGS, Completion of this set could be a life-long quest.
1834 Proof Quarter Dollar PR64+
PCGS POP 2/3
Certification #39328351, PCGS #5382
PCGS Value Guide: $60,000 / realized $62,000
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
What's this alt talking about? Is that little dot a sign of doctoring?
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I am not sure how this coin relates to the Hansen discussion. I don’t think this coin is in The Collection. Or is it? Please me know the connection and reason for posting.. thanks
This is Hansen’s top coin. The Coin realized $38,525 in a 2005 StacksBowers Auction. The NGC coin realized $164,500.00 in Legend Auction a couple months ago.
1883 Trade Dollar. Proof-67+ Cameo (PCGS). CAC, PCGS POP 2/0
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
-> @Currin said:
That looks like it was just minted.
www.paradimecoins.com - Specializing in Top Pop Type PCGS CAC coins. Subscribe To Our NEWPs Mailing List
Major Varieties – Countdown 21
I started this Countdown in mid-April as the “Season Three Opener” that marked the third anniversary of the Hansen watch tread. The countdown started with 40 coins (last two boxes required for Mayor Varieties CS). After just a little more than six months, the list has dwindled down to 21 left. For the Major Varieties, the final destination will be 2 remaining. There are two uncollectable coins in the National Collection that are not obtainable. To reach this destination of only two left, two or three very difficult roadblocks are still in the way. First being the 1849-C Gold Dollar "Open Wreath", this will not be an easy coin to obtain. There are only two in PCGS holders, an AU58 and the finest known, Richmond PCGS MS62. The 1804 Eagle "Plain 4 Proof" by most accounts, only three are known. One of them is in the Harry W. Bass, Jr. Foundation Collection currently on loan to the Money Museum at the American Numismatic Association. Another one is the strong hands of the Tyrant. The third coin (Simpson Specimen) may be interesting to watch at the FUN Show in a couple months. Will Mr. Hansen pop for a Five Million Dollar coin? If he does, the next biggest roadblock could be the 1861 Double Eagle "Paquet" with two known. The 1861-S “Paquet” is already in The Collection, it sure would be nice to pair that coin up with one of the two 1861 Philadelphia “Paquet” Specimens.
The PCGS Registry Set is a massive 3260 group of coins. To complete, this set would require the 2821 basic coins plus an additional 439 Major Varieties Coins. With this addition, there are 21 remaining coins in this quest. The Top 10 coins are ultra-rarities which the most common #10 coin has a survival est. of 11 coins w/ AU Finest Known. The top two coins are unique for known specimens, and both are permanently in Smithsonian, therefore uncollectable. The other eight is “technically collectable”, but that does not guarantee that Mr. Hansen will have an opportunity purchase all of them. Only time will tell.
PCGS described the set as: Every classic U.S. coin in Circulation Strike from 1792 through 1964, every date, every Mintmark, every major variety, this set is the ultimate challenge. A collection of this size could take decades to assemble in high grade. As we know, Mr. Hansen has been actively assembling his collection for about four years. He has made a lot of progress being he is already half way through the countdown phase of the majority varieties. The 1840-D “Small D” half eagle is coin #3236/3260 and has only three quest and 21 major varieties coins remaining to complete thus tough set.
1840-D Liberty Head Half Eagle “Small D”, AU53
This coin is considered a Major Variety, but it is not all that major in price. There is one low uncirculated grade MS61 NGC that holds the Auction Record realizing $14,100 from a Heritage Auctions’ 2013 US Coins Signature Auction held in Houston, TX. This specimen previously sold in a 2007 Goldberg Auction for $13,800. The Finest PCGS certified coins are a pair of AU55s. NGC POP report does not separate the “Small D” from the basic population. I am not sure we can assume the auction record MS61 from The Ole Miner's Collection is the finest known.
In the PCGS POP report, the new Hansen coin has a POP of 2/2. More importantly, this is next to last Liberty Head Major Varieties specimen need to be acquired. The last one is the 1861 Double Eagle "Paquet" that I mention earlier. What a great accomplishment it would be to complete a Liberty Head Gold set with Major Varieties. Will it be done? The 1840-D Liberty Head Half Eagle “Small D” was required even if the coin is not that significant in the grand scheme of things with the D.L. Hansen Collection.
Expert Doug Winter describes this coin as: In 1840, the design of the half eagle was modified. The new head has a neck that is less curved and positioned slightly differently than the head of 1839. In addition, the mintmark was placed on the reverse, where it would stay on all regular issue United States gold coins struck through 1933. Thus the 1840-D is an important issue as it is the first Dahlonega half eagle with the modified Liberty Head design. The 1840-D half eagle is most often seen in Very Fine to Extremely Fine grades. It is scarce in the lower About Uncirculated grades and rare in the upper range of this grade. It is extremely rare in Uncirculated. This is a difficult issue to find with good eye appeal. Most 1840-D half eagles are heavily marked and most have their original surfaces stripped-off from repeated cleanings. Any example which has good eye appeal routinely sells for a strong premium over a typical coin. To be a AU53, I believe the coin has eye appeal. The coin has appeared twice in Auction and in both sales; the coin was presented as AU55 NGC.
Variety 4-C: Small D. The date is level in the field between the bust and the denticles. The upright of the 4 in the date is centered over a denticle. The first three digits show the remains of previously cut digits at the lower right. Most significant are the remains of an earlier 8 that run through the center of the lower loop of the 8 in the date and out the right side to the crossbar of the 4 in the date. The reverse has a Small D mintmark with a narrow opening that is about the same width as the upright of the mintmark. The upright of the mintmark is positioned over the gap between the inner serifs of the two diagonals of the V in FIVE. A die crack runs from the rim through the right diagonal of the V, through the right side of the mintmark, through the feather and branch stem and on into the shield. This variety appears to be rare. (Doug Winter)
The coin first appeared in Heritage’s 2008 Signature Coin Auction in Houston, TX. It was described as: Important 1840-D Small Mintmark Five, AU55. The coin was in an unattributed AU55 NGC holder and details included: Variety 4-C. Although infrequently discussed in the literature, there are two known mintmark varieties, either Small or Tall, for the 1840-D half eagles. NGC does not recognize the two mintmark sizes. The Small Mintmark variety is normally seen, like this piece, with a vertical die crack through its center. This example only has the crack visible to the lower shield border, although some are known with the same crack continuing to the upper reverse border. Light surface marks are evident on both sides, with attractive green-gold surfaces and traces of lighter yellow toning. The coin realized $6,325.
The next appearance is March 2018 in Kagin's ANA National Money Show Auction. In the same NGC holder from the 2008 sale, the coin was described as: Lustrous AU 1840-D Half Eagle 1840-D Half Eagle Winter 4-C. AU-55 NGC. The warm honey-gold surfaces of this attractive Dahlonega half eagle offer a decided olive glow throughout, while a trip to a light source reveals faint orange iridescence in the fields. Not as heavily abraded as this date is often seen, the present specimen presents no more than a smattering of tiny stray marks, few of which are available to the naked eye. Choice for the grade, and certain to entertain strong activity at bidding time. I think the description is very accurate. For AU53 gold, the coin is lustrous and abrasions are light. You may disagree, and that’s OK. In this offering, the coin realized $4,500.
There are no clues on how that coin was acquired for the Hansen Collection. I guess some resourceful coin dealer saw the coin was needed in that Hansen Collection found a AU55 NGC specimen, crossed it to PCGS and offered to Hansen. According to PCGS Price Guide, the PCGS AU53 specimen is valued as $7500. Even if Hansen paid less, there was still some meat on the bone.
This coin gets The Collection one step closer to completing the Major Varieties. It is a PCGS Condition TOP Five Specimen that I feel to be a nice addition to The Collection.
1840-D Liberty Head Half Eagle “Small D”, AU53
PCGS, POP 2/2 (Die Variety)
Certification #40525961, PCGS #8199
PCGSVG: $7500 / unknown
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The Major Varieties Set is an expansion of the PCGS Basic Set. To complete, this set would require the 2821 basic coins plus an additional 439 Major Varieties Coins. With this addition, there are 21 remaining coins in this quest. The first two coins are not collectable, so the completion of this set would be 99.94%. PCGS describes this set as: Every classic U.S. coin in Circulation Strike from 1792 through 1964, every date, every Mintmark, every major variety, this set is the ultimate challenge. A collection of this size could take decades to assemble in high grade.
Top 10
1797 Half Eagle "Large Eagle, 15 Stars" (1 Known – Permanently in Smithsonian) Uncollectable
1797 Half Eagle "Large Eagle, 16 Stars" (1 Known – Permanently in Smithsonian) Uncollectable
1861 Double Eagle "Paquet" (2 Known)
1804 Eagle "Plain 4 Proof" (3 Known)
1849-C Gold Dollar "Open Wreath" (4 Known w/ one defective)
1958 Small Cent "Doubled Die Obverse” (3 Known)
1795 Large Cent "Jefferson, Lettered Edge" (5 Known w/ VF Finest Known)
1810 Half Eagle "Large Date, Small 5" (5 Known w/ AU Finest Known)
1842 Half Dollar "Small Date, Rev of 1839" (Survival est. 10 w/ 1 Mint State)
1804 Quarter Eagle "13 Star Reverse" (Survival est. 11 w/ AU Finest Known)
Next 10
1797 Half Cent "Gripped Edge" (Survival est. 13 w/ VG Finest Known)
1797 Half Eagle "Small Eagle, 15 Stars" (Survival est. 20 w/ 1 Mint State)
1820 Half Eagle "Curl Base 2, Sm Letters" (Survival est. 14 w/ 8 Mint State)
1800 Dollar "Wide Date, Low 8, AMERICAI" (Survival est. 25 w/ AU Finest Known)
1798/7 Eagle "7X6 Stars" (Survival est. 25 w/ 3 Mint State)
1812/1 Half Dollar "Large 8" (Survival est. 35 w/ AU Finest Known)
1839 Half Dollar "Receeded Edge, Small Letters” (Survival est. 50 w/ 4 Mint State)
1798 Quarter Eagle "Wide Date" (Survival est. 50 w/ 8 Mint State)
1798 Dollar "Large Eagle, Knob 9, 4 Lines" (Survival est. 125 w/ 2 Mint State)
1795 Half Dollar "Small Head" (Survival est. 450 w/ 1 Mint State)
Last 1
1887/6 Three Cent CN (Survival est. 800 w/ 750 Mint State)
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Major Varieties – Countdown 20
This is the second update to the Major Varieties – Countdown this weekend. Friday, I posted the 1840-D Liberty Head Half Eagle “Small D” variety. Today, we see an update to the Half Dollar Major Varieties. A few months ago, the half dollar countdown stalled at four coins remaining:
1795 Half Dollar "Small Head"
1812/1 Half Dollar "Large 8"
1839 Half Dollar "Receeded Edge, Small Letters”
1842 Half Dollar "Small Date, Rev of 1839"
I discussed in detail the ultra-rarities remaining. This is not one of them, but the coin is tough to find. The new update is certified as 1812/1 Overton 101, “Large 8” variety. PCGS placed the survival estimate around 35 coins for all grades. The PCGS POP report indicates 51 coins have been certified. This is conflicting information and more than likely, a few in the POP report have been sent in more than once. The finest certified by PCGS is a pair of AU55 specimens. As for auction appearances, six coins have been auctioned in the past twelve months. The grade range was VG8 to VF30, with one problem coin certified as XF Details. The coins realized $3360 to $10,800. The Hansen upgrade is one of the six coins; a VF30 that appeared in a StacksBowers Auction.
The facts for the 1812/1 Half Dollar "Large 8” variety was well described in a 2010 Heritage Auction: The obverse is the 1812/1 overdate with a large 8 in the date. The reverse has a stray serif at the bottom of the N in UNITED, described as recutting in Overton, but actually from an unidentified punch. Its location is incorrect for a recut N or an inverted N, unless the original punch was drastically out of position. The reverse die was also used for 1812 O-102, the Small Overdate variety. This early die state piece has no evidence of die cracks, clash marks, or other die anomalies on either side. Later states exist, identified as O-101a. The 1812/1 Large 8 ranks among the most important half dollar varieties in the Capped Bust series. In addition to its Low R.5 rating, with only about 60 to 80 examples surviving, it is also an important Guide Book variety that further increases the demand. In the 1970 second edition of Overton, the O-101 and O-101a die states were listed as R.7, meaning four to 12 pieces exist. As of today, PCGS has certified eight coins as 1812/1 “Overton 101 Large 8” variety, and nine coins as 1812/1 “Overton 101a Large 8” variety. With a total POP of 51, then by doing the math, there are 34 to be attributed to one of the two varieties.
1812/1 Capped Bust Half Dollar “Overton 101 Large 8”, VF30
This is not a census condition specimen for this tough variety, but still a very nice addition to the Capped Bust Half Dollar Collection. As stated by one of the Bust Half Dollar experts: Very tough variety to find nice. Looks like “Mr. Hansen” has a superb original example. I agree, it is nice for originality, but not the finest grade by PCGS standards. He added: Nice original examples are tough to come by and as you know they top out in AU55 grade. The finest example of this variety to appear in public, is an AU58 NGC that realized $14,100 in a 2013 StacksBowers Auction. The pair of PCGS AU55 specimens has never appeared in auction, but one did as an AU53. The auction record is for a PCGS AU53 coin that realized $43,125. It was from the Donald R. Frederick Collection that sold in Heritage’s 2010 CSNS US Coin Auction in Milwaukee, WI. I believed this record coin is now one of the two PCGS AU55 coins and is currently in Dr. Charles Link Collection.
The Hansen VF30 coin is from The E. Horatio Morgan Collection of Half Dollars. This collection was recently offered by public sale in StackBower’s September 2020 Collectors Choice Online Auction. The coin was described as: The Overton-101 dies correspond to the Large 8 Guide Book variety of the 1812/1 Capped Bust half dollar. Both the early and late die states are scarce in an absolute sense, the present coin an attractive mid grade example of the early die state O-101 attribution. A significant and desirable coin that is sure to sell for a strong bid. The coin realized $7,200. If you like to read more about the E. Horatio Morgan sale, there was a feature article in CoinWeek. The 1812/1 Capped Bust half dollar was a feature coin.
https://coinweek.com/auctions-news/e-horatio-morgan-collection-half-dollars-in-stacks-bowers-sept-2020-online-auction/
At this time, there is not much additional information known about this coin. I am not sure if the coin was purchased by Mr. Hansen in September Auction. Due to the two month delay in the update, I have my doubts. I would assume the coin was a post auction offer. With this addition, the Hansen Major Varieties Countdown is now just 20 coins (one blue box remaining). As 2020 is quickly approaching closeout, I am not sure if we will see more. With these to recent additions, it does lead me to believe the Major Varieties are now in focus. There are at least three Simson coins that are on the Hansen countdown lists. One is a six figure coin, and the other two are seven figures! Let’s watch and see what happens.
1812/1 Capped Bust Half Dollar “Overton 101 Large 8”, VF30
PCGS, POP 2/4 (Die Variety), POP 8/23 (Major Variety)
Certification #39197111, PCGS #39441
PCGSVG: $12,000 / unknown
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The Major Varieties Set is an expansion of the PCGS Basic Set. To complete, this set would require the 2821 basic coins plus an additional 439 Major Varieties Coins. With this addition, there are 20 remaining coins in this quest. The first two coins are not collectable, so the completion of this set would be 99.94%. PCGS describes this set as: Every classic U.S. coin in Circulation Strike from 1792 through 1964, every date, every Mintmark, every major variety, this set is the ultimate challenge. A collection of this size could take decades to assemble in high grade.
Top 10
1797 Half Eagle "Large Eagle, 15 Stars" (1 Known – Permanently in Smithsonian) Uncollectable
1797 Half Eagle "Large Eagle, 16 Stars" (1 Known – Permanently in Smithsonian) Uncollectable
1861 Double Eagle "Paquet" (2 Known)
1804 Eagle "Plain 4 Proof" (3 Known)
1849-C Gold Dollar "Open Wreath" (4 Known w/ one defective)
1958 Small Cent "Doubled Die Obverse” (3 Known)
1795 Large Cent "Jefferson, Lettered Edge" (5 Known w/ VF Finest Known)
1810 Half Eagle "Large Date, Small 5" (5 Known w/ AU Finest Known)
1842 Half Dollar "Small Date, Rev of 1839" (Survival est. 10 w/ 1 Mint State)
1804 Quarter Eagle "13 Star Reverse" (Survival est. 11 w/ AU Finest Known)
Next 5
1797 Half Cent "Gripped Edge" (Survival est. 13 w/ VG Finest Known)
1797 Half Eagle "Small Eagle, 15 Stars" (Survival est. 20 w/ 1 Mint State)
1820 Half Eagle "Curl Base 2, Sm Letters" (Survival est. 14 w/ 8 Mint State)
1800 Dollar "Wide Date, Low 8, AMERICAI" (Survival est. 25 w/ AU Finest Known)
1798/7 Eagle "7X6 Stars" (Survival est. 25 w/ 3 Mint State)
Last 5
1839 Half Dollar "Receeded Edge, Small Letters” (Survival est. 50 w/ 4 Mint State)
1798 Quarter Eagle "Wide Date" (Survival est. 50 w/ 8 Mint State)
1798 Dollar "Large Eagle, Knob 9, 4 Lines" (Survival est. 125 w/ 2 Mint State)
1795 Half Dollar "Small Head" (Survival est. 450 w/ 1 Mint State)
1887/6 Three Cent CN (Survival est. 800 w/ 750 Mint State)
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
I really like that 1840-D $5 Small D
Latin American Collection
Latest Upgrade from the BigMo Civil War Collection
This upgrade is for the year 1862. You may recall that Mr. Hansen purchased four 1862 circulating strike coins from the BigMo sale. All four of them were impressive PCGS POP 1/0 specimens! This coin was not purchased by Mr. Hansen in the sale, and I have concluded the reason because at that time the coin was not a PCGS POP 1/0 specimen. For the 1862 Half Dollar, The Hansen Collection had a very nice specimen. The 1862 MS66, Certification #06504652 specimen is currently a PCGS POP 4/1 CAC Approved specimen. At the time of the sale, the Hansen pedigreed coin was a PCGS POP 5/0 CAC Approved specimen. This is a case where I am not sure the Hansen duplicate is a common duplicate. The coin’s destiny was this collection until a coin was graded better a few months ago. You judge for yourself on the replaced coin. Thoughts?
There has been a lot of work on the 1862 date set. With this upgrade, there are now five PCGS POP 1/0 specimens that have been added to the #1 registry 1862 set from the BigMo Collection. I wonder if this is the greatest set of 1862 ever assembled. The PCGS Registry indicates, yes. PCGS describes the 1862 set as: As the war progressed, mintages and issues declined precipitously. The three Southern mints in Charlotte, Dahlonega and New Orleans were lost to the United States, so only two mints remained in operation – Philadelphia and San Francisco. The toughest coins in the Silver set will be the "S" mint Dime (MS65 POP 1/0 CAC Approved) and Quarter (MS64+ POP 1/0 CAC Approved) in high grade, and of course the Seated Dollar (MS65 POP 3/0 CAC Approved) is costly in top condition. The gold follows a familiar pattern, with all coins but the Gold Dollar (MS67 POP 7/4 CAC Approved) tough in high grade. The Half Eagles (POP 2/0 and POP 1/0) and Eagles (POP 2/0 and POP 2/2) in particular are virtually unknown in Mint State, with only a few pieces known. A small handful of $20s (POP 2/0 and POP 1/0) salvaged from the Brother Jonathan and Republic shipwrecks are known.
In the 20 coin 1862 set, ten are non-gold. These ten are not just good, they are real good. For example with this update, a PCGS Pop 4/1 specimen is replaced, which is just a minor improvement. The grade range is MS64+ to MS68. Five of the coins (50%) are PCGS POP 1/0 specimens! There are two others that are tied for finest certified by PCGS (70%). The final three are Conditional Census TOP Five (100%). The highest POP coin is the 1862 Small Cent MS67, POP 11/4. I would not be surprised at some point to see another upgrade.
There are also ten gold coins in the 1862 set. The grade range is AU58 to MS67. Three of the coins (30%) are PCGS POP 1/0 specimens! There are two others that are tied for finest certified by PCGS (50%). The four of the five final coins are Conditional Census TOP Five (90%). The highest POP coin and only non-condition census specimen is the 1862 $2.50 MS63 POP 13/6. The single FINEST graded by PCGS and tied with just a single MS64+ at NGC is being offered in the BigMo Part 2 sale in a couple weeks. It is very possible this 20 piece set could be all Condition Cenus before the clock strikes midnight on December 3rd. Either way, this is a very nice set of gold.
1862 50C MS66+, CAC Approved, EX: Gardner/BigMo
Our Expert Ron Guth described this coin as: Despite a relatively low mintage, the 1862 Half Dollar can be found in nice condition with relative ease. This is refelcted in the PCGS CoinFacts Condition Census, where the lowest grade among the best Top Ten coins is MS65 and the top examples are four PCGS MS66s. The new Hansen coin is one of the four MS66s and first appeared in The Eugene H. Gardner sale hosted by Heritage. The coin was described as: Satiny surfaces radiate soft mint luster and considerable eye appeal. The toning is rich and comprehensive, with lively amber-gold color intermingled with sky-blue accents and lilac overtones. The strike is full on the figure of Liberty and the surrounding stars, while the reverse is bold except for minor blending on the eagle's left (facing) leg and talons. Few marks are seen anywhere on the smooth and attractive surfaces. In this 2015 sale, the coin realized $18,800. This falls short of the auction record for the date. There are two NGC MS67 specimens. One of the NGC MS67 specimens holds the auction record of $28,200 in a 2013 Heritage sale. PCGS has not placed a value on the newly graded MS66+ coin. With the value for a MS66 given as $17,500, what will the value be for a MS66+, CAC?
As stated before, the coin was offered in the BigMo Civil War Collection, Part 1 Sale hosted by Legends Auctions on 7/16/2020. The coin was listed as a PCGS MS66, CAC with catalog description: This coin was the last 1862 PCGS MS66 CAC piece to sell in any major auction, when it brought $18,800 in May 2015. Let us say that again; $18,800 back in May 2015. It's 2020 now and NONE have sold via auction since. That is a powerful statement as to the rarity of this date and grade. A side note: this coin was sold way back in 2001 to Gene Gardner from our sister company Legend Numismatics; 19 years this coin pretty much has been off the market, impounded in the Gardner then BigMo Collections! Good luck!
I don’t think Mr. Hansen was interested in the coin due to having a MS66, CAC specimen in his collection. There was no hint the coin was an upgrading candidate, and was described by Legend Rare Coin Auctions as: No question this is a delicious VERY HIGH END GEM. 158 years old and it looks as good as ever! Tied for FINEST graded at PCGS, this SUPERB example is a very special Civil War era numismatic relic. Immaculate surfaces have fewer lines and ticks than the old green tag holder in which it resides. There is a generous amount of satiny luster that softly glows under the iridescent toning. Both sides have a thicker, yet even mix of totally original reddish gold, honey gold, forest green, blue, and pale purple colors. Miss Liberty and the details are exceptionally struck. The eye appeal is superb!
Legend RCA estimated the range on to coin from $17,500 to $20,000. It does not appear anyone but the buyer saw the potential in this coin. The coin underachieved realizing only $15,275 in the Legend sale. Someone saw potential in the coin and sent it to PCGS for upgrading. The coin came back with a MS66+, and now in the D.L. Hansen Collection as PCGS POP 1/0 specimen. Very nice upgrade and a nice pedigree.
1862 Half Dollar MS66+, CAC, Ex: Gardner/BigMo
PCGS POP 1/0, CAC Approved
Certification #07454710, PCGS #6307
PCGS Value Guide: Unknown / realized Unknown
Provenance: Purchased directly from Legend Numismatics (1/2001) by Eugene Gardner; The Eugene H. Gardner Collection, (Heritage 5/2015), lot 98479, realized $18,800; The BigMo Civil War Collection, (Legend 7/2020), lot #28, realized $15,275; The D.L. Hansen Collection (11/2020)
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Silver Three Cent Upgrade
With several big auctions coming up quickly, I think we will soon see several big coins. This is a little one that I want to get in before all the action starts. I posted a pretty good write-up for the Proof Silver Three Cent set a few days ago. This is an update to the mint state set. PCGS describe the coin set as: This is our smallest coin. It's also the only one struck in 75% silver (that's the "type one" of 1851-53 only). There are lots of tiny mintages in the series, many condition rarities, three different types and a lot of history. Why does the set stop in 1872? Because the 1873 is a "Proof-only" issue with no circulation strikes being issued. One more bit of trivia: Only one date in the series has a mintmark. Can you name the date and Mint?
The D.L. Hansen Collection of Silver Three Cents ranks #2 in the PCGS registry. The set consist of 23 coins. The overall rating for the set is 66.66 with bonuses. It is trailing the number one set by only 0.05 points. This is not a set like many of Hansen’s sets that are bumping their head on the set grade ceiling. The maximum possible is 69.49, so as you can see, there is plenty of room. With this new upgrade, the set now has five coins tied for finest certified at PCGS. Unusually, there are no POP 1/0 specimens in the set. According to PCGS report, there are 15 POP 1/0 PCGS certified specimens (out of 23). So where are they? They certainly are not in the registry. Is there a super unpublished set? Are they just part of a bank vault high grade collection somewhere? Are they dispersed among 15 collections? The fact that I know for certain, there are none in any of the top registry sets.
The Hansen set is graded from MS64 to MS68. This new upgrade is the second MS68 coin, with none grading higher. There are eight coins that are not PCGS Condition Conus Top Five. This presents a lot of opportunities for upgrading.
1852 Three Cent Silver, MS68, Ex: Simpson
Expert Ron Guth comments: The 1852 Three Cents Silver boasts the highest mintage of the entire series. In fact, its mintage of 18,663,500 coins is more than seven million coins higher than the nearest contenders (1853 and 1865). As might be expected, this is a common coin in just about every grade. To be sure, it has the highest overall certified population of any date in the series (per the PCGS Population Report as of October 2011). The most common Mint State grade is MS-64, followed by MS-63 (with a nearly identical population figure). Above MS-65, the population drops sharply, especially in MS-67. The finest examples certified by PCGS are a pair of MS-68s.
This is a post Simpson sale buy. We see post auction buys frequently for this collection. I think the reason for many coins like this is that Mr. Hansen posts Max Bids. I think this happens for many of the coins that can “improve” his sets and the coins have an equal of better appearance. This may be one of the coins that he placed an early bid, but never went back and adjusted. In Heritage’s 2020 sale of selections from The Bob R. Simpson Collection, Part I, the coin was described as: The Type One three cent silver pieces was only produced from 1851 to 1853. The three Philadelphia issues are generally plentiful in high grade, but they are each individually scarce in MS67. However, the only Type One issue known in MS68 is the 1852. This piece is one of just two MS68 coins listed at PCGS, making it not only a Condition Census 1852, but a Condition Census Type One. NGC list one other piece in this grade. The quality is simply incredible, boasting flawless, frosty mint luster with boldly rendered design elements. Flecks of russet toning grace the borders, leaving the interiors with a delicate champagne tint. Eye appeal is outstanding. This is one of the most important Type One three cent silvers in existence, and it represents an unequaled opportunity for the Registry collector type coin specialist.
In the Heritage Sale, they do not list a pedigree earlier than Bob Simpson. In PCGS Pedigree and History Information, they indicate the Simpson coin is from Knoxville Collection, and one time owned by Jay Parrino (The Mint). The auction record for an 1852 Three Cent Silver is $17,625. This was realized in Heritage’s 2016 FUN US Coins Signature Auction in Tampa. The coin was a MS68 NGC and was not listed with any pedigree.
As I indicated, Mr. Hansen did not purchase the coin in the Bob Simson sale. It was offered for sale in mid-October on Pinnacle Rarities website. It is very interesting there was no mention of Bob Simpson or any pedigree in the description. Is that the choice of some coin dealers? The coin was described as: This piece is one of just two MS68 coins listed at PCGS, and it not only a Condition Census 1852, but a Condition Census Type One, as the 1852 is the only Type One issue known in this exalted grade. (NGC list one other piece in this grade.) Incredibly preserved surfaces display frosty mint luster and crisply executed devices. Hints of russet and a sky blue patina adorn the peripheries of both obverse and reverse while the central elements are a delicate champagne hue. Outstanding quality and eye appeal. An important opportunity for the Trime specialist and the advanced type collector alike. The ask for the coin was $19,500.
As discussed a few weeks ago, The D.L. Hansen Collection of Proof Three Cent Silver is what I think to be the finest graded set to ever be assembled. There is a lot of room for the mint state coins to improve if the high end coins become available and the series becomes more significant on Mr. Hansen priority list. It appear the Hansen set will become top set in the registry shortly, but to dominate with a majority of the fifteen PCGS POP 1/0 specimens shows no signs of happening after four years of building the collection. This was a great belated upgrade, now let’s watch and see what’s happens next.
Provenance: Knoxville Collection; Jay Parrino (The Mint); Bob R. Simpson Collection, (Heritage 9/2020), lot #10017, realized $16,200; Purchased from Pinnacle Rarities, (10/2020), D.L. Hansen Collection
1852 Three Cent Silver, MS68
Tied for Finest Certified, No Type One Coin is Finer
Certification #40322945, PCGS #3666
PCGSGV: $25,000 / Ask $19,500
Ex: Knoxville/Simpson
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Looks like he picked up 8 Morgans from the Larry H. Miller set (including the 84-S in 68 and 93-S in 65) as well as some other coins.
Upgrades from the Larry H. Miller Morgan Dollar Auction – Part 1
This is first of the big November/December 2020 Auctions. Can it start any better than with StacksBowers November 2020 Session of the sale of The Larry H. Miller Collection Morgan Dollars? The Morgan Dollars in this collection were amazing. Just watch for the next few days, and you will agree. It would be very interesting to see how the set would have ranked in the PCGS registry. Being the set was mixed with PCGS and NGC coins, then we will never know. As advertised in the November/December Rare Coin Market Review.
Of the 1600 coins in the collection, there were 107 Morgan Dollars sold. Two of the coins were proofs, the 1895 Proof-67, Cameo (NGC), CAC, realizing $132,000. The other proof was the 1921 Zerbe Special Strike, Proof-65 (NGC), CAC, realizing $15,600. Of the 107 Morgan Dollars sold, 22 lots were NGC certified. The only six figures NGC mint state coin sold was the 1889-CC, MS-65 PL (NGC), realizing $324,000. The bulk of the Morgans sold were PCGS certified (85 coins). The top ten Morgan coins realized $336,000 to $780,000. The first coin that I will discuss is one of the four from November/December Rare Coin Market Review ad. It is described as Amazing Deep Mirror Prooflike Superb Gem 1895-S Dollar
As amazing as the coin is, it rank as #10 price realized on the coins sold. There were nine other Morgans that realized more! This is the coin that Mr. Hansen really went for in the collection. I not sure who he was bidding against, but someone wanted this coin just as bad as Mr. Hansen wanted it. PCGS values the coin at $200,000, and Mr. Hansen won the coin at $336,000. I will say the coin has not sold in 15 years, so obviously the value provided by PCGS was not true. Let’s discuss the 1895-S Dollar.
1895-S Morgan Dollar MS67DMPL, Ex: Jack Lee, CAC Approved
The following is an edited version authored by Q. David Bowers from my "Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia" (Wolfeboro, NH: Bowers and Merena Galleries, Inc., 1993): Examples of 1895-S filtered out of the San Francisco Mint over a long period of years in the normal course of business. Around the year 1900 there was a flurry of interest in 1894-O, 1894-S, 1895-O, and 1895-S silver dollars, and a few specimens were sold for several dollars each. The interest soon faded, and Uncirculated pieces could be obtained for less than $2 apiece. Pieces have always been available at a price. A few bags of 1895-S dollars were released by the San Francisco Mint in 1942, much to the delight of Bay Area numismatists. From that time through the very early 1950s, more bags were paid out, but then the distribution stopped. By 1953-1955, 1895-S dollars were considered to be rare. John Skubis recalled that K.O. Cunningham, of Nevada, offered a bag for $5,000 to $6,000 around this time, but John did not buy it, for he was fearful that a lot more would be released at face value. Indeed, some additional coins were released, but most went to casinos or the public-rather than to dealers.
He described: Prooflike coins are scarce, but among the few top grade Mint State 1895-S dollars, quite a few are prooflike. When seen, they usually are in lower grades, have low contrast, and are not particularly attractive. DMPL coins are about twice as scarce as PL. As of September 1992, NGC and PCGS certified 42 PL (all but one below MS-65) and 21 DMPL (none MS-65 or better). The alleged "Proof' in Mehl's C.W. Cowell sale (Nov. 11, 1911), at $2, was probably a DMPL. On the other hand, one or more of the following may have been the real McCoy: 1) John Zug, advertised in The Numismatist December 1934, at $5, was priced above the 1895 ($4.50) and all other Philadelphia Proofs. 2) William Cutler Atwater (Mehl,June 11,1946), $ 15.75-above all Philadelphia Proofs except 1878 8 Tailfeathers, 1895, and 1903. 3) Bolender's 183rd Sale (Feb. 23, 1952), "extremely rare," $90-above all Philadelphia Proofs except 1895. 4) "Anderson Dupont" (Stack's, Nov. 11-13, 1954), $32.50, exceeded only by 1891 and 1895. As you can see, some of these comments are outdated because this coin a MS67DMPL.
On the most recent POP Report, this coin and one other is graded GEM, a MS66DMPL, Ex: Hansen. Yes, Mr. Hansen now has both coins in The Collections. There are no MS65DMPL Specimens. In the sale of the MS66DMPL in 2015, Legend Rare Coin Auctions attributed the MS67DMPL as: Only a single example is graded at this level with the DMPL contrast, with one more in MS66, and another in MS66 PL. The top coin is likely the Wayne Miller example at MS67 DMPL, which must have upgraded as last time it sold it was MS66 DMPL (1/09) In the StacksBowers sale, they did not contribute the MS67DMPL coin to being the Wayne Miller coin. This leads to me to believe the Legend comment may be incorrect. Does anyone know or can verify the connection? I would like to verify if possible.
StacksBowers described the coin as: A fully struck, intensely lustrous Gem with gorgeous brilliant surfaces. The 1884-CC is the most popular type issue in the Carson City Mint Morgan dollar series. The mintage was 1,136,000 pieces, many of which remained in storage and were released in the 20th century, particularly as part of the GSA offering of CC-Mint Morgan dollars in the 1970s. Offered here is unrivaled technical quality and extraordinary visual appeal for this low mintage, key date Morgan dollar issue. There are just a few wisps and swirls of pale reddish-gold iridescence. The fields are deeply mirrored and the devices are satiny and softly frosted, presenting intense field to device contrast. A touch of softness to the hair curls over Liberty's ear is noted, as are a few light planchet roller marks (as made) in that area. Also as made are several faint die polish lines in the fields, typical of many prooflike examples of this issue. Virtually devoid of handling marks, this is the single finest 1895-S available to Morgan dollar enthusiasts. Also, keep in mind, this is the only 1895-S $1 that is certified as PCGS MS67.
I agree with StacksBowers closing comment: This issue is certainly scarce by Morgan dollar standards in lower Mint State grades, but it is in Gem condition that the 1895-S displays its true rarity. Prooflike and Deep Mirror Prooflike coins are also elusive, while those with superior surface preservation are exceedingly rare. With technical quality and eye appeal that can't be improved upon, the Larry H. Miller specimen of the 1895-S is an amazing coin eagerly awaiting inclusion in another top flight Morgan dollar set. This is a great coin that upgrades a $100K coin with a $336K coin with a one point bump! As stated earlier, this coin is #10, so future Larry Miller updates only gets better from here.
Provenance: Wayne Miller (unverified); Jack Lee I Collection; Jack Lee II Collection; Jack Lee III Collection, (Heritage 11/2005), lot #2326, realized $207,000; Larry H. Miller, (Stacks/Bowers 11/2020), lot #6368, realized $336,000, D.L. Hansen Collection.
1895-S Morgan Dollar MS67DMPL
PCGS POP 1/0, CAC Approved
Certification #04884182, PCGS #97239
PCGS Value Guide: $200,000 / realized $336,000
Ex: Jack Lee / Larry H. Miller
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Amazing coin DLH! Congratulations! Well done!
Perfection 14 was a great set of DMPL Morgan’s. Where are they now?
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Upgrades from the Larry H. Miller Morgan Dollar Auction – Part 2
After seeing the very impressive 1895-S Morgan Dollar MS67DMPL update a couple days ago from the Larry H. Miller Morgan Dollar Collection, let’s take a look at the second DMPL that Mr. Hansen was successful in purchasing. The D.L. Hansen Collection of DMPL Morgan Dollars currently ranks at the top of the PCGS registry. The DMPL Morgan specialty set moved into first place in the mid-2019 timeframe. Since that time, about 18 coins have been upgraded moving the set to a solid position in the top spot by about 0.75 points. The prior PCGS HOF set, held the top position for more than 12 years. The HOF fame set is 98.97% DMPL. In comparison to the Hansen set, the 97 piece set is 89.69%. Both sets are amazing. The only coin that is not prooflike in the HOF DT Miller by Ashmore set is the 1893-S MS63 specimen.
PCGS describes this specialty set as: Few Circulation Strike U.S. coins can compare with a deep mirror prooflike Morgan Dollar. The first few hundred coins off a new or newly polished die will often show reflective surfaces, and due to the large size of the Morgan Dollar, the effect is profound. This set allows both prooflike as well as non-prooflike coins, but of course bonuses are given for reflective surfaces. Key dates are similar to the regular sets and include the 1893-S, the 1884-S, the 1889-CC, the 1895 and 1896-O mints, and the 1901-P. Up to this point of time, the specialty DMPL set has been the priority Morgan Dollar set in The Collection. The set is self-described as: The D.L.Hansen DMPL/PL Morgan Dollar Collection is the combination of a number of great historic collections assembled as the TexasCoins Collection by Carl Schwenker of Houston,Texas, (California and Jack Lee)as well as other known collectors. On Carl foundational work the DL Hansen Collection will take it another step forward as a salute to DMPL Morgan Dollars. I am not certain when this statement was written, but the prediction has come true, the set has become a “salute to DMPL Morgan Dollars”. I would add, the journey is not complete yet.
I am starting the first two updates with the two DMPL purchases. As stated a couple days ago, the 1895-S MS67DMPL, POP 1/0, CAC specimen ranked #10 in price realized. The CAC Approved DMPL specimen being featured today is not a PCGS POP 1/0 specimen, but the coin still realized $360,000 in the sale, and was ranked #8 in price. The 1893-O MS65DMPL was the second DMPL specimen from the Larry H. Miller Morgan Dollar Auction and there were no others. Let’s learn more about this coin.
1893-O Morgan Dollar, MS65DMPL, Ex: Young; Bodway; Lee
The following is edited version authored by Q. David Bowers from my "Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia" (Wolfeboro, NH: Bowers and Merena Galleries, Inc., 1993): The 1893-O dollar posted the lowest mintage figure for any New Orleans Mint silver dollar of the Morgan design. The 1893-O dollar is scarce in all Mint State grades and is rare in higher levels. Probably 1,500 to 3,000 MS-60 to 62 coins remain; about 600 to 1,200 MS-63 pieces; only 200 to 300 MS-64s; and a paltry 10 to 20 MS-65 or better examples. Most 1893-O dollars are lightly struck and have fair to average lustre. Some coins are lightly struck on the obverse center but are sharp on the reverse. Many are heavily bagmarked, especially on the obverse. Sharply struck coins exist and are rare in higher grades. Sharply struck MS-65 coins are among the rarest of all Morgan dollars.
He described: Semi-prooflike 1893-O Morgan dollars are sometimes sold as prooflikes and, according to Wayne Miller, are often more attractive than full prooflikes. Prooflike coins are sometimes one-sided and have a mirror surface on the reverse only. Full prooflike coins are extremely rare. DMPL coins seem to be about two or three times rarer than PL, per the certification services. The "Proofs" in the Nygren and Andrus sales (1914, 1915), considering the prices ($1.90, $3.10) were probably DMPLs. That in the "Anderson Dupont" sale (1954), at $26, exceeded the price of most Philadelphia Proofs in that auction; was it something better? The coin is not now traced. To find this coin in GEM DMPL is extremely difficult. There is just this one in MS65DMPL and one finer, MS65+DMPL. I wonder if new Hansen coin is now due for a regrading.
The present finest coin I believe to be the Ralph Stone Collection specimen that was sold by Sotheby's Auctions in 2018 for $325,000. There were comparisons made to the new Hansen coin: An absolutely remarkable coin. With extraordinarily deep, nearly limitless mirrored fields on both the obverse and reverse; all the devices and legends exhibiting rich, cameo frostiness. The strike is sharper than the renowned Young/Goldfreed/Bodway/Lee coin, with which the present coin is tied for finest known; there is greater definition of the hair above Liberty’s ear, and the eagle’s feathers are virtually full. Both examples share the reverse weakness around the bow and ONE of the denomination. Few hairlines to distract, but a small tick or two are noted on Liberty’s nose and near her eye; there is also a small mint-caused inclusion above the 9 in the date. A small reverse mark to the left of the eagle’s wing can serve as an identifier, otherwise few marks of any distraction. There is the faintest hint of gold tone at the peripheries, otherwise essentially white. A splendid example of this significant rarity. I would have to say both coins are great specimens, and if one is better that the other, then it is not by very much.
In the StacksBowers Auction, they too make reference to the other coin: To this description we add simply that delicate peripheral toning in iridescent gold rings both sides and adds to the coin's remarkable appearance. While Wayne Miller commented that the Amon Carter, Jr. specimen was also a "superb 1893-O," in the market of the early 21st century only one other example of this issue rivals the coin offered here. That is the Ralph Stone specimen, also certified MS-65 DMPL by PCGS and verified by CAC, which sold as lot 106 in Sotheby's May 2018 sale of the Ralph and Lois Stone Collection. Prior to that sale, it had been more than a decade since a Deep Mirror Prooflike Gem 1893-O dollar was offered through auction: the present example in Heritage's December 2005 sale of the Jack Lee III Collection. As opportunities to acquire extraordinary condition rarities such as this come along infrequently, we cannot overstate the significance of this offering for advanced Morgan dollar enthusiasts.
There are two great 1893-O Morgan GEM DMPL specimens. The D.L Hansen Collection now has one of them. This is a certainly a great addition to The Collection. We have not seen the best additions yet. As stated earlier, Mr. Hansen purchased eight Morgan Dollars in the sale, paying slightly less than $4,000,000, so hang on because we have more to see.
Provenance: RARCOA's sale of the Leo A. Young Collection of Morgan Silver Dollars, Auction '80, August 1980, lot 1794; RARCOA's sale of the Barbara Goldfreed Collection, Auction '87, July-August 1987, lot 1252; George Bodway; Jack Lee I Collection; Jack Lee II Collection; Jack Lee III pCollection, (Heritage 11/2005), lot 2313, realized $258,750; Larry H. Miller, (Stacks/Bowers 11/2020), lot #6361, realized $360,000, D.L. Hansen Collection.
1893-O Morgan Dollar MS65DMPL
PCGS POP 1/1, CAC Approved
Certification #04884185, PCGS #97225
PCGS Value Guide: $375,000 / realized $360,000
Ex: Young / Bodway / Jack Lee / Larry H. Miller
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Major Varieties – Countdown 19
The Collection has already upgraded a coin purchased in the second Bob Simpson Mega sale offered by Heritage Auctions. The 2020 November 19, Important Selections from The Bob R. Simpson Collection, Part II was held last night. The pace of this sale seemed very active. I watch up to the start of the patterns, so not sure what happened after that. The coin that was the feature and heavily promoted does not seen to have done well. The 1943-S cent struck on a Bronze Planchet MS63 Brown PCGS, CAC was estimated at $1,000,000. That is also the PCGS value given for the coin. The coin realized only $504,000 and appears available for sale today for $604,000, if there are any takers. Except for the Bronze Cent, there were no other seven figures coins in the sale. Heritage has not issued a press release yet.
It appears the early coinage went strong. The top price realized in the sale was $630,000 for 1807 Quarter Dollar, B-1, R.2, MS67 PCGS, CAC Approved. PCGS valued the coin at $650,000, so no surprise there. The shocker of the sale may be the coin that Mr. Hansen purchased for $528,000. This ended up being the #2 coin and the prized 1943-S Bronzed Cent sold as #3, realizing $504,000. Overall, this sale had 17 coins to realize six figures. The bargain in the sale was a 1915 Buffalo Nickel, MS65 PCGS that realized $660.
The new Hansen coin serves as an addition to the D.L. Hansen Major Varieties Collection. This is one of tough ones. CoinFacts estimates the survival for the variety is approx. 400 coins. The known survival for mint state condition is one! The auctioneer describe the major variety as: Among 1795 Overton varieties, three are of never-ending interest to early half dollar enthusiasts: the O-126, O-127, and O-128 Small Heads. Two of the varieties (O-127 and O-128) are rare, and seldom seen above the VF grade level. The O-126 die marriage is a bit more available, but scarce in circulated grades above VF. Only one Small Head exists in Uncirculated condition, and it is the amazing coin offered now. This coin is believed to have been acquired directly from the Philadelphia Mint in 1795 by William Strickland, before returning with Strickland to England and eventually gracing the Lord St. Oswald Collection by descent. In recent years, the coin has acquired an equally impressive U.S. pedigree that includes the R. Brent Pogue and Bob R. Simpson collections.
I have known the coin was available and needed for the Hansen Collection from the first time it appeared for sale in the Heritage Auction. In the pre-live bidding, the coin ramped up to $228,000. I thought the coin would go between $200K and $250K. Little did I know the live bidding would be so exciting. In post-sale, the Heritage website does not give a bid history. I do remember there were nine bidders in the pre-bidding. The coin is a great addition to The Collection and there is not another one that compares to it.
1795 Flowing Hair Half Dollar “Overton 126a Small Head”, MS63, Ex: Lord St. Oswald
This is definitely a WOW coin from the pedigree, the condition, to the price it realized. In one of Doug Winter’s articles describing gold coins, he said “some coins have what I regard has a strong “Wow Factor.”” Certain issues in the various United States gold types struck between 1795 and 1933 have what might best be called a “Wow Factor.” Something about the issue—be it rarity, design, historic association or low mintage—appeals to a variety of collectors. These coins have strong multiple levels of demand and a “wow” coin might be included in a collection which focuses on trophy coins. This is the one of the kings for the early half dollar guys along with the 1817/4 which is said to be the most famous and valuable of all the Capped Bust Half Dollars. The record for that coin is $356,500, but need to consider there is no mint state. Who knowns, a mint state 1817/4 could break the seven figure mark.
The history of this coin is over two hundred years old. In the Pogue StacksBowers sale, the coin’s history was described as: Few pedigrees leave collectors more breathless than “Lord St. Oswald,” even as the fantastic story of an English peer visiting the first United States Mint in 1795 was found to be based on speculation. The facts are just as evocative as the tall tale, namely that a box of unimportant coins found in the possession of a member of the gentry in the early 1960s included some of the most important early United States coins ever discovered, all dating from 1794 and 1795, clearly kept together since nearly the time of their mintage. Kept loose and unappreciated, totally unstudied, the coins caused a sensation when they appeared at auction in London in 1964. Among their number was a small quantity of cents that maintained vivid mint color, two high grade examples of the famous 1794 dollar (one of which is in the Pogue Collection), and this coin, a 1795 Small Head half dollar, a rarity in any grade but an astounding find in Mint State. While the story may never be known, someone visited Philadelphia in 1795 and brought back coins as souvenirs. Those coins, thought trivial at the time and considered such as late as 1964, are a veritable time capsule that has captured the imagination of collectors ever since. Only one other Lord St. Oswald half dollar has traded hands in the modern era, a 1795 O-112 graded NGC MS-65, once offered in our 1973 Reed Hawn Sale, that brought $92,400 in February 1995.
The coin has a rich history; you may be able to say royalty. In addition, not only can the specimen claim the finest certified, but also the sole mint state. In the Simpson sale, the coin set the half million dollar record for a half dollar. The coin certainly has the WOW factor. It is one of Bob Simpson’s jewels that I guess was placed in his collection by Laura Sperber. It was elegantly described in the Heritage sale as: All of which seems of secondary importance when viewing this remarkable coin. If ever there was an early half dollar with an inarguable claim to full Mint State, this frosted and blatantly original example is it. Exquisitely deep-seated, natural toning radiates shades of tan-gold, lilac, and light-gray that shimmer throughout the lustrous obverse, while lavender and rose hues join the palette on the richly toned reverse. Unblemished rims support full, sharp dentils that surround smooth fields and well-struck devices. The only marks to note are a few brief, faint adjustment marks in the hair above Liberty's ear, barely visible. Their presence contributes to a bit of weakness at the eagle's breast. When all is said and done, this immaculate Small Head is destined for the most advanced collection of early half dollars. Supported by impeccable lore and lineage, the coin speaks for itself in terms of rarity and unsurpassed quality.
Did Mr. Hansen overpay for this coin? A wise member of our community once said: you ALWAYS have to ‘overpay’ and the great coins are never cheap. Well, this is certainly one of the great coins of all times and it was not cheap. I personally think it was an excellent addition even at that the premium price as long as it does not hinder any future purchases. A couple more important Simpson coins will hit the market in 2021. They will no doubt be seven figures and will not fall short of the finish line as the 1943-S Bronze Cent did.
Provenance: William Strickland Collection; Charles Winn (husband of Priscilla Strickland, son-in-law and cousin of William Strickland), Rowland Winn, 1st Baron St. Oswald of Nostell ; Rowland Winn, 2nd Baron St. Oswald of Nostell; Rowland George Winn, 3rd Baron St. Oswald of Nostell ; Rowland Denys Guy Winn, Major the Lord St. Oswald, M.C., (Christie, Manson, and Woods 10/1964) lot #144, realized $840 (300 British Pounds); Spink & Son, Ltd.; Reed Hawn Collection, (Stack’s 8/1973) lot#3; Dr. George F. Oviedo Collection, (Stack’s 9/1983), lot #722; William R. Orwen Collection, (Stack’s 10/1999), lot #341, realized $89,125; D. Brent Pogue Collection, (Stack’s/Bowers & Sotheby’s 5/2015), lot #1099, realized $199,750; The Bob R. Simpson Collection, Part II, (Heritage 11/2020), lot #3051, realized $528,000, D.L. Hansen Collection.
1795 Flowing Hair Half Dollar “Overton 126a Small Head”, MS63
PCGS, POP 1/0 (The only 1795 Small Head graded Mint State by PCGS)
Certification #40274316, PCGS #39248
PCGSVG: $235,000 / realized $528,000
Ex: Lord St. Oswald / Pogue-Simpson
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The Major Varieties Set is an expansion of the PCGS Basic Set. To complete, this set would require the 2821 basic coins plus an additional 439 Major Varieties Coins. With this addition, there are 19 remaining coins in this quest. The first two coins are not collectable, so the completion of this set would be 99.94%. PCGS describes this set as: Every classic U.S. coin in Circulation Strike from 1792 through 1964, every date, every Mintmark, every major variety, this set is the ultimate challenge. A collection of this size could take decades to assemble in high grade.
Top 10
1797 Half Eagle "Large Eagle, 15 Stars" (1 Known – Permanently in Smithsonian) Uncollectable
1797 Half Eagle "Large Eagle, 16 Stars" (1 Known – Permanently in Smithsonian) Uncollectable
1861 Double Eagle "Paquet" (2 Known)
1804 Eagle "Plain 4 Proof" (3 Known)
1849-C Gold Dollar "Open Wreath" (4 Known w/ one defective)
1958 Small Cent "Doubled Die Obverse” (3 Known)
1795 Large Cent "Jefferson, Lettered Edge" (5 Known w/ VF Finest Known)
1810 Half Eagle "Large Date, Small 5" (5 Known w/ AU Finest Known)
1842 Half Dollar "Small Date, Rev of 1839" (Survival est. 10 w/ 1 Mint State)
1804 Quarter Eagle "13 Star Reverse" (Survival est. 11 w/ AU Finest Known)
Next 5
1797 Half Cent "Gripped Edge" (Survival est. 13 w/ VG Finest Known)
1797 Half Eagle "Small Eagle, 15 Stars" (Survival est. 20 w/ 1 Mint State)
1820 Half Eagle "Curl Base 2, Sm Letters" (Survival est. 14 w/ 8 Mint State)
1800 Dollar "Wide Date, Low 8, AMERICAI" (Survival est. 25 w/ AU Finest Known)
1798/7 Eagle "7X6 Stars" (Survival est. 25 w/ 3 Mint State)
Last 4
1839 Half Dollar "Receeded Edge, Small Letters” (Survival est. 50 w/ 4 Mint State)
1798 Quarter Eagle "Wide Date" (Survival est. 50 w/ 8 Mint State)
1798 Dollar "Large Eagle, Knob 9, 4 Lines" (Survival est. 125 w/ 2 Mint State)
1887/6 Three Cent CN (Survival est. 800 w/ 750 Mint State)
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Upgrades from the Larry H. Miller Morgan Dollar Auction – Part 3
The first two updates we saw the two DMPL specimens from the Larry H. Miller Morgan Dollar Collection. We will now move into the other great Morgan Silver Dollars obtained from this collection. John Brush wrote about the purchase on his weekly blog titled, “Coins We Love”. He wrote: Last week was supposed to be the Whitman Baltimore Expo. Honestly, I had forgotten all about the show until I had to participate in the accompanying auction that occurred last week. As usual, we represented Mr. Hansen in bidding in the auction of the Larry H. Miller Collection (another Utah native) and we came home with some amazing finest known Morgan Dollar rarities at some fantastic prices. What’s really fascinating is that these Morgans have been off the market for nearly 20 years and not located in any registry set. Now that they have entered the collecting marketplace, the former #1 rated Morgan sets may have some new competition. While record prices were achieved on several of these pieces, they were still far below what some expected the coins to bring.
I wrote a few days ago that I thought the prices realized were pretty strong. This was especially in reference the 1895-S MS67DMPL that realized $336,000. According to John Brush, they were still far below what some expected the coins to bring. John does not indicate specifically the coins purchased or the number of coins purchased from the collection. As I indicated earlier, according to the updates, I believe Mr. Hansen purchased eight of the coins. The lowest price that he paid was $66,000 for the 1886-S MS67, Certification #06553739, PCGS POP 5/0, CAC Approved. The other seven coins all realized six figures. I will feature today the 1892-S MS68 Morgan Silver Dollars pedigreed to Jack Lee.
Does it get any better than PCGS Hall of Fame Jack Lee? He was award the PCGS Hall of Fame in 2002 for his Morgan Dollars Basic Set, Circulation Strikes (1878-1921). The set requires only 97 coins, but his collection was almost twice that size. The HOF comments: This is the undisputed all-time greatest set of Morgan dollars. In fact, it is one of the finest individual sets of United States coins ever assembled. It contains more than the 97 required coins; in fact, there are 175 coins in the set, not counting the proofs. Of those 175 coins (mint state and proof-like and deep mirror proof-like) there are 172 that qualify as the finest graded or tied for the finest graded. An incredible accomplishment combining unprecedented patience, dedication, and resources. Highlights of the Jack Lee Collection are an 1884-S graded MS68, the famous Wayne Miller 1886-O graded MS67DMPL, the Eliasberg 1889-CC graded MS68, the Norweb 1893-S graded MS67, an 1896-O graded MS66, an 1896-S graded an unbelievable MS69, and literally every other coin in the collection. The 1892-S MS68 Morgan Silver Dollar was not one of the coins mentioned in this summary, but the coin still was one of Mr. Lee’s amazing specimens.
1892-S Morgan Dollar, MS68 Ex: Jack Lee
The following is edited version authored by Q. David Bowers from my "Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia" (Wolfeboro, NH: Bowers and Merena Galleries, Inc., 1993): The 1892-S dollar is one of those United States coins that is very common in worn grades but which is an extreme rarity at the MS-65 level. In 1992, a coin in VG-8 grade was worth about $10, while an MS-65 coin would have brought $50,000 or more at auction. In other words, an MS-65 coin is worth 5,000 times as much as a VG-8! The explanation is that many if not most 1892-S dollars were placed into circulation at or near the time of issue, and few were saved in Mint State. However, in the days of long ago the 1892-S was not recognized as a rarity. No accolades were given to the issue whenever an Uncirculated coin crossed the auction block in the period extending up to 40 years after it was minted. In Ed. Frossard's sale of March 8, 1898, a Mint State 1892-S fetched $1.05; in the U.S. Coin Co. auction of May 19-21,1915, $1.50 was obtained for another; and in Thomas L. Elder's auction of April 13-14, 1917, $1.50 was again achieved. In fact, it was not until comparatively recent years that the rarity of the 1892-S has been recognized; this after the San Francisco Mint dispersals from storage in the 1940s and 1950s apparently yielded no bags of this date, nor were any among the untold millions of Morgan dollars paid out by the Treasury during the 1962-1964 emptying of government vaults. However, it is known that at least one bag of 1892-S dollars was paid out by the San Francisco Mint in 1925-1926. Few coins reached numismatic circles, as there was little collecting interest in Morgan dollar mintmarks at the time. Perhaps, some of the AU coins now known came from that release.
The new Hansen coin sold in auction in 2005 from The Jack Lee Collection, III Sale. The Heritage auctioneer describe the coin as: Finest Certified 1892-S Morgan Silver Dollar. Heritage Auctions described the rarity as: Only 1.2 million Morgan Dollars were coined at the San Francisco Mint in 1892, and many of these immediately went into circulation. The mintage itself makes an intriguing sale, for each and every month of the year saw exactly 100,000 coins struck. This is a remarkable and perhaps unique situation in the history of the United States Mint. Apparently most of these coins were immediately paid out and placed in circulation, for nearly all known examples today are well worn. In grades below XF, the '92-S is a plentiful and inexpensive issue. Those coins that grade XF or AU are scarce and more expensive. Mint State coins, regardless of numerical grade, are all but impossible to locate. In fact, in all Mint State grades, PCGS and NGC have only certified 103 examples of this issue, doubtless with multiple resubmissions. It is possibly the case the nearly the entire mintage entered circulation. Occasional pieces would be found with other dates, but apparently not even a single bag of Mint State examples have been found since the late 1920s, when a bag (or possibly more) was paid out at the San Francisco Mint. This event went more or less unnoticed in numismatic circles.
Wayne Miller provided commentary in his textbook: "The typical mint state 1892-S dollar is well struck, with good luster and fewer than average bagmarks. This date is now known to be not nearly as rare as the 1893-S in fully uncirculated condition; probably two dozen or more have surfaced in the past six years [prior to 1982]. The 1892-S has been denigrated as a poor investment by most advisory letters, to the effect that it is one of the few key date Morgans which is not instantly saleable in fully gem condition. There is not doubt, however, that the 1892-S is still very rare in fully mint state condition. Of the more than one million pieces which were struck, probably fewer than two hundred specimens exist in choice BU or better condition. A few truly superb specimens have appeared in recent years, the finest of which realized $31,000 in Auction '79. It subsequently resold for nearly $40,000. The coin had gorgeous peripheral toning and a glowing golden-yellow center. Because of its rarity in the higher grades, the 1892-S is often counterfeited. Never buy a high-grade 1892-S without proof of authenticity. Further, because grading is so critical, examine such a specimen very carefully. Ignore advertisements of 'typical weak strike BU' 1892-S dollars. Of the twenty or so mint state specimens the author has examined, virtually all were well struck."
As stated by John Brush, the coin has been off the market for a long time, 15 years to be exact. In the StacksBowers sale last week, the rarity of the coin was described as: As one of the leading condition rarities in the Morgan silver dollar series of 1878 to 1921, the appearance of even a low end Mint State 1892-S at auction is a noteworthy event. The Larry H. Miller specimen in PCGS MS-68 is the finest certified 1892-S as well as one of the most famous of all Morgan silver dollars in numismatics. Highly lustrous with a smooth, frosty texture, both sides are brilliant apart from wisps of subtle champagne-gold iridescence. Sharply struck over all design elements, this is an expertly preserved and incredibly beautiful Superb Gem that stands tall among the numerous highlights in the fabulous Miller cabinet.
There are no hints for the pedigree prior to Jack Lee. If the coin could be traced further back would be great to know. The D.L. Hansen Collection of Morgan Dollars now has eight MS68 PCGS certified specimens with four of them with the MS68+ certification. The 1892-S was a nice addition that realized $630,000 in the Larry H. Miller Morgan Dollar Sale. PCGS placed the value of the coin at $600,000. It does not have the CAC Approval sticker. This was the only coin in the eight purchased by Mr. Hansen that did not have the sticker. This is an very nice upgrade to the collection and I will speak more on the D.L. Hansen Morgan Set in the days to come. Wait and Watch!
Provenance: Jack Lee I Collection; Jack Lee II Collection; Jack Lee III Collection, (Heritage 11/2005), lot 2309, realized $322,000; Larry H. Miller, (Stacks/Bowers 11/2020), lot #6358, realized $630,000, D.L. Hansen Collection.
1892-S Morgan Dollar MS68
PCGS POP 1/0, Finest Certified 1892-S Morgan Silver Dollar
Certification #07455547, PCGS #7218
PCGS Value Guide: $600,000 / realized $630,000
Ex: Jack Lee / Larry H. Miller
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Upgrades from the Larry H. Miller Morgan Dollar Auction – Part 4
Today, we will see the fourth coin updated from the Larry H. Miller Morgan Dollar Collection. I discussed a few days ago the focus set for Morgan Dollars in the D.L. Hansen Collection was a complete specialty set of DMPL specimens. The Hansen Collection currently represents the #1 spot in the registry. Mr. Hansen purchased two coins for the Larry H. Miller Morgan Dollar Collection to improve that set. The new focus being seen is with the basic Morgan Dollars. It appears to me a decision was made to jump in with both feet. He purchased six non-DMPL from the Larry H. Miller Morgan Dollar Collection for a total of eight. All eight coins were magnificent, with seven being in the top ten for prices realized in the sale.
With the purchase of these eight coins, The D.L. Hansen Collection leaped from the 17th spot in the ranking to number six! I was not expecting the focus to shift this quick and intense. The top five sets include the who’s who in Morgan Dollars royalty. There are two PCGS Hall of Fame collections, Jack Lee and the California Collection. There is the current number one registry set, Gold River Collection. Rounding out the top five are the top two sets of all-times, Coronet and Illinois Collection. It appears the Hansen Collection has set sights for starting to break into the leaderboard of the top five. Let’s look at the top key date coins in the 97 coin set and see how well the Hansen Collection is doing.
I will bring in focus the key date top twelve coins based on PCGS weighting (8-10). There is only one coin weighted 10, the 1893-S. There are five weighted as nine, and six weighted at eight. Here are the twelve key date Morgan’s presently in the Hansen Collection.
1893-S (10.00) MS65 POP 5/1
1884-S (9.00) MS68 POP 1/0, Finest certified by PCGS
1889-CC (9.00) MS64+DMPL POP 3/2, Finest PCGS certified DMPL.
1895-O (9.00) MS67 POP 1/0, Finest certified by PCGS
1896-O (9.00) MS64 POP 32/3
1901 (9.00) MS64 POP 33/3
1886-O (8.00) MS64+ POP 27/4
1892-S (8.00) MS68 1/0, Finest certified by PCGS
1893-CC (8.00) MS65 POP 13/2
1893-O (8.00) MS65DMPL POP 7/2
1894 (8.00) MS64 POP 285/65
1895-S (8.00) MS67DMPL 1/0, Finest certified by PCGS
To highlight, four of the twelve key dates are PCGS 1/0, Finest certified by PCGS. All but one, 1894 MS64 are PCGS Condition Census Top Five. This makes up a pretty nice collection of key date Morgan Dollars. Overall the Hansen set has a GPA of 66.12, compared the #5 set at 66.17 and the current top set at 66.15. The grades in the Hansen set range from six MS64 to four MS68+. There are a couple of MS64 coins that really needs replacing, the 1894 and 1894-O.
As mention, the only current top five set is the Gold River Collection. In comparison, that set has four POP 1/0 specimens, but none of them are the key dates. The set grade range is from the 1893-S MS63 to pair of stunning MS69 specimens. The set is mostly PCGS Condition Top Five specimens with just a handful Top Ten. There are only three coins outside the Top Ten, but not by much.
So, what would it take to be the all-time top set for Morgan’s? It will not be an easy task. The last collection to take a shot was The Illinois Collection. The set made a run for the top, but retired February 2020 after reaching the all-time runner-up spot. The set was assembled by Barry Stuppler. He stated that it took 14 years to assemble the Illinois Morgan Dollar Collection, which encompasses five of the All-Time Finest Sets. You may recall that Mr. Stuppler was inspirational in getting Mr. Hansen stated with his St. Gaudens Double Eagle set. Mr. Stuppler marketed the Illinois Set in 2019 for $9.7 Million. His desire was to keep the set together and sell intact. The set contained 12 PCGS POP 1/0 specimens, with all but one being from the Coronet Collection. After an unsuccessful attempt to sell intact, Mr. Stuppler broke the set and stated to sell individually. Two of the PCGS POP 1/0 specimens (1889 and 1899-O) are in the Gold River Collection. I am not sure where all the remaining ten PCGS POP 1/0 specimens are presently located, but there are a few being offered on Mr. Stuppler website (and eBay).
The set that enjoys the top spot in the registry is the Coronet Collection. (Note: By GPA, The Jack Lee Set is still #1) This set retired in 2015 and the coins was auctioned by Legend Rare Coin Auctions. This set consisted of an unprecedented 17 POP 1/0 specimens. The two currently in the Gold River Collection are the only two that I can account for. It will be interesting to see if Mr. Hansen motivation turns to making a run in the basic Morgan Dollar set. If he do, the TOP POPs will need to come out of hiding.
1897-O Morgan Dollar, MS67 Ex: Jack Lee
Described as “Exceedingly Rare Superb Gem 1897-O Dollar”, this is another specimen from the famous Jack Lee Collection. The following is edited version authored by Q. David Bowers from my "Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia" (Wolfeboro, NH: Bowers and Merena Galleries, Inc., 1993): A few bags of 1897-O dollars came on the market in the East, in the greater area comprising New Jersey, eastern Pennsylvania, and southern New York, in the late 1940s and again in the early 1950s. These were from storage in the Treasury Building in Washington, D.C. There was little investor interest at the time. It has been said that a few bags of 1897-O dollars were part of the Treasury release of 1962-1964, from storage in a sealed vault at the Philadelphia Mint, but I have found no specific record of them. Harry J. Forman, who never handled a bag of 1897-O dollars, reported that New York dealer Joel Coen is said to have had 10 rolls, perhaps from the 1962-1964 distribution. Other 1897-O dollars turned up in quantity through the branch of the Federal Reserve Bank in Helena, Montana, but these were lightly circulated coins mixed in with "slider" 1894-O, 1895-O, and 1896-O pieces. A bag of 1897-O dollars was reportedly stolen from LaVere Redfield in 1963 (Miller, p. 6). The 1897-O issue is not one to have attracted much attention, for the typical piece is lightly struck and unattractive. Once again, the New Orleans Mint workers were just doing their job: turning out massive quantities of dollars, without regard to quality.
The new Hansen 1897-O Morgan Dollar sold in a 2005 auction was from The Jack Lee Collection, III Sale. The Heritage auctioneer described the coin as: One of scarcer dates that is extremely difficult to locate in grades of MS63 or finer. This stunning coin is one of the very Finest Known of this date, with a combined NGC and PCGS Population of a mere 3 coins, with none seen finer. The surfaces are pristine and show virtually no signs of handling although we will note a tiny nick near the center of Liberty's broad cheek as a pedigree marker. On the reverse there is a minute planchet crack on the edge below the D of DOLLAR. Bright and lustrous, with an attractive layer of light gold toning over the entire coin. Simply stated, this is one of the absolutely Finest Known examples of this date, and it is worthy of a runaway price. Rarity and quality of this magnitude can not be duplicated at any price, and if this opportunity passes, a similar coin may not be offered again in decades. The other PCGS MS67 specimen is from Gregg Bingham NFL Collection that sold in an Heritage 2001 auction for $109,250. At the time, the coin was described as: Possibly the Finest Known 1897-O Morgan Dollar, MS 67 PCGS. The Jack Lee / Larry H. Miller / D.L. Hansen specimen has a CAC Population of only one.
In the StacksBowers sale last week, the rarity and condition of the coin was described as: The Miller 1897-O is a phenomenal strike and condition rarity that well represents this challenging New Orleans Mint Morgan dollar. The strike is as full as we have ever seen for the issue, and rivals that seen even on the best struck San Francisco Mint Morgan dollars. The luster is equally impressive, with both sides displaying smooth mint frost over virtually pristine surfaces. Enhanced by blushes of champagne-pink and pale silver iridescence, this is a gorgeous coin that is unsurpassed in either quality or eye appeal by any other 1897-O dollar that your cataloger (JLA) has handled for auction over the last 20 years.
As with many of the Jack Lee Morgans, there are no additional hints for an earlier pedigree. I wonder if this and several other coins have ties to the Wayne Miller Collection (1/86). This was the tenth highest purchase realized in the Larry H. Miller Morgan Dollar Sale. The coin realized a new auction record at $348,000. PCGS Price Guide was pretty close in valuing the coin at $350,000. To me, the PCGS POP 2/0 specimen was well worth the price realized. For those in the community that values the sticker, the coins is CAC Approved. There are still three more Larry H. Miller upgrades to go. Wait and Watch!
Provenance: Jack Lee II Collection; Jack Lee III Collection, (Heritage 11/2005), lot 2329, realized $126,500; Larry H. Miller, (Stacks/Bowers 11/2020), lot #6373 realized $348,000, D.L. Hansen Collection.
1897-O Morgan Dollar MS67
PCGS POP 2/0, Tied Finest PCGS Certified
Certification #05700150, PCGS #7248
PCGS Value Guide: $350,000 / realized $348,000
Ex: Jack Lee / Larry H. Miller
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Upgrades from the Larry H. Miller Morgan Dollar Auction – Part 5
Today, we will see the fifth coin updated from the Larry H. Miller Morgan Dollar Collection. There have been several blogs and news releases on the sale. I reported on John Brush and his thoughts. His most memorable comment was they were still far below what some expected the coins to bring. Some other comments was from the Legend’s Market Reports Blog authored by Laura Sperber or one of her protégés. The title: “YES YOU CAN MAKE MONEY IN RARE COINS”. It started with the opinion on how smart Larry Miller was. The premise as stated: “He hired a veteran dealer and tasked him to buy great coins”. Probably not a bad idea. The other premise is to “by (sp.) the best quality and hold, you WILL enjoy a significant return”. She went on to say: You can NOT go and build a collection of any kind today and expect to sell it for great profits within a year or two. No matter who was your agent. While you may have coins that will net some profits, the majority probably won’t. The definition of holding long term is 10+ years. Plus, the greatest collections all had great dealers working with them. Collectors just do not get access to coins like these. Plus, using a dealer you won’t buy any dogs. We know the Miller Collection is 15-20 years old. There may be some wisdom here.
As for coins themselves, two are specifically mentioned in the Legend blog. Many of these coins probably fell back in the deep black hole of mystery buyers. Coins like these are so powerful, the buyer of the 1886-O PCGS MS67DMPL called it his “all time favorite Morgan” while he had dreamed owning it ever since he saw it 20 years ago. The buyer is a major dealer who has handled some of the greatest coins ever! I am not sure who the major dealer that purchased the 1886-O PCGS MS67DMPL. The coin realized an auction record of $780,000. In my research, I believe this to be the second most expensive Morgan coin that has been realized in public auctions. It is second only to the Eliasberg-Lee 1889-CC MS68 specimen that realized $882,250 in a 2013 StatcksBowers Auction. The 1886-O PCGS MS67DMPL is probably a coin the Mr. Hansen bided on, but it got away. Prior to this sale, the most a 1886-O MS65+ PCGS specimen realized was $235,000 in Legend’s June 2015 Regency XII Auction. The 1886-O PCGS MS67DMPL would be a nice improvement to The Hansen DMPL set replacing a MS62DMPL POP 6/5 specimen.
The second Miller coin mentioned in the Legend’s Market Report, Mr. Hansen was successful in obtaining. Our all time favorite coin the sale-$1 1895-O PCGS MS67 CAC. We think its an easy + candidate. Never saw another 95-O even close to it in quality and eye appeal. This was not the most expensive coin from the sale. In fact, the coin realized $528,000 with PCGS price guided valued at $575,000. I wonder how Legend let this one get away being they liked it so much. With the knowledge of an easy + candidate, I would have thought they would be all over it. This may be an example were John Brush referenced they were still far below what some expected the coins to bring.
1895-O Morgan Dollar, MS67 Ex: Wayne Miller / Jack Lee
Our Community Expert Ron Guth commented: The 1895-O Silver Dollars is one of the most difficult of the series to find in nice condition. The quantity of truly Mint State 1895-O Dollars is very low. This statement becomes clear on examining the PCGS Population Report. As of October 2012, PCGS had certified approximately equal quantities of 1894-S, 1895-O, and 1896-O Dollars -- between 4,000 and 5,000 each. Any suggestions of similarities between these dates is demolished when one examines the Mint State columns, where PCGS shows the following -- for the 1894-S, PCGS shows nearly 3,000 MS examples; for the 1896-O, nearly 1,300; for the 1895-O, a mere 143 examples. Prooflike and Deep Mirror Prooflike 1895-O Dollars are very rare. The finest 1895-O Dollar is a single PCGS MS-67, the phenomenal coin once owned by Silver Dollar specialists Wayne Miller and Jack Lee, and which realized $575,000 way back in 2005. The Hansen coin is the MS67 specimen that is referenced by Mr. Guth.
The coin sold in a Heritage 2005 Sale of The Jack Lee III Collection for $575,000. This may be one of a handful Morgans that dropped in value since 2005. The coin was marketed as Wayne MIller's Own 1895-O Morgan Dollar. Offered by Superior Galleries in January 1986, with the following commentary: "A 'wonder' coin! Excellent luster with virtually no bag marks. Unequivocally the Finest Known specimen. Miller states that the only other specimen near to this one was the piece he purchased in 1970 from the Hardenburg Collection which was Prooflike but did not have the overall 'pizzazz' this coin possesses. Wayne Miller turned down $100,000 for this coin a few years ago. The 1895-O Dollar is one of the most amazing coins in this fabulous collection and is certainly worthy of a new record price." Today, these comments seem equally applicable. Current certification service data suggests just how elusive these coins are in Gem condition. PCGS and NGC have graded a total of 10 examples in all grades of MS65 or finer, including one MS66 example at each service as well as this solitary MS67 grade Superb Gem dollar. This is the only coin to receive the MS67 grade to date.
If history is an indicator, this coin will be in the D.L. Hansen Collection for a very long time. I don’t think there is a better example. It puzzles me why this coin did not realized somewhere between $600,000 and $650,000. The coin is that good. In the Larry Miller Auction, Heritage described the coin as: Finest Known 1895-O Morgan Silver Dollar. In the Heritage commentary, they state the coin may be the most desirable. In a collection replete with absolute and condition rarities -- among which are some of the most famous individual coins in all of U.S. numismatics -- it would be nearly impossible for anyone to pick one single coin that stands out as the most significant, most desirable, or even simply their favorite. Among the Morgan dollars in the Larry H. Miller Collection, however, the 1895-O is a strong contender for this honor. It is the finest certified and, in many opinions, the finest known example of this conditionally challenging issue. It is a beautiful Superb Gem that really needs to be seen to be fully appreciated. The striking detail is razor sharp to full over virtually all design elements, certainly far superior to the typical survivor of this overall poorly produced issue. Brilliant with full mint luster, the frosty design elements are equally as appealing as the satiny fields. There is even a trace of semi-prooflike reflectivity on the reverse. We have never seen this coin's equal in an 1895-O dollar, and doubt that such an example exists. Extraordinary!
Again, I am not sure how this rare MS67 CAC Approved specimen ended up in the Hansen Collection at what I believe to be a bargain. This is a POP 1/0 specimen for one of the Key Dated Morgan Dollars. I feel certain Mr. Hansen is very pleased with purchase. As we get closer to the finish, there are two even better Morgans to see. Wait and Watch!
Provenance: Wayne Miller, acquired January 1975 for $5,500; Wayne Miller Morgan and Peace Dollar Collection, (Superior 1/1986), Lot #1310; George Bodway; Jack Lee I Collection; Jack Lee II Collection;
Jack Lee III Collection, (Heritage's 11/2005), Lot #2324, realized $575,000;Larry H. Miller, (Stacks/Bowers 11/2020), lot #6367 realized $528,000, D.L. Hansen Collection.
1895-O Morgan Dollar MS67
PCGS POP 1/0, Finest PCGS Certified
Certification #07455561, PCGS #7236
PCGS Value Guide: $575,000 / realized $528,000
Ex: Wayne Miller/ Jack Lee / Larry H. Miller
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Upgrades from the Larry H. Miller Morgan Dollar Auction – Part 6
Today, we will see the sixth coin updated from the Larry H. Miller Morgan Dollar Collection. Also, I think this would be a good time to share StacksBowers press release. It started by saying: Part One of the Larry H. Miller Collection was a much anticipated highlight of the Stack's Bowers Galleries November 2020 Showcase Auction, held at the Balboa Bay Resort in Newport Beach, California. Acquiring coins discretely and off the radar of the collecting community, the late Larry H. Miller assembled a world-class cabinet that spanned nearly the entire Guide Book of United States Coins. Part One, sold on November 12th, encompassed the most emblematic issues of the late 19th and early 20th centuries and realized more than $9.05 million across 436 lots. Part One of the sale had 436 lots, but the bulk of the value was in the Morgan Dollars. To be more precise, the top ten Morgan Dollars in the sale was significant. The top 10 Morgan coins realized $5,580,000. That accounts for more than 61% of the sale. I have not seen the value of the Larry Miller Morgan Collection, but that would be good to know. As I reported before, Mr. Hansen only purchased eight Morgan Dollars, with seven was in the top ten of prices realized. His spend for Miller Morgans account for approx. $3.6 Million.
This presentation was highlighted by a world-class set of Morgan dollars that featured some of the very finest known of their issues. Among the top highlights was the incredible MS-67 DMPL (PCGS) CAC 1886-O that specialist Wayne Miller called "the most spectacular Morgan dollar known;" it sold for $780,000. The famous MS-68 (PCGS) CAC 1884-S from the Miller Collection is the sole finest known and traces its provenance back to such acclaimed numismatists as David Hall, George Bodway and Jack Lee. That astounding piece commanded a price of $750,000. The MS-68 (PCGS) Jack Lee 1892-S dollar also ranks as the finest certified and was bid to $630,000. The MS-69 (PCGS) CAC 1896-S offered virtual perfection and earned $720,000. This piece is ranked not only as the sole finest for the date but is also tied with the finest graded across the entire range of Morgan dollars. Two the mentioned coins went into the D.L. Hansen Collection. I reported a few days ago on the 1892-S MS68. The coin ranks #6 all-time in price realized. The other coin, MS-68 (PCGS) CAC 1884-S, now in the D.L. Hansen Collection ranks #3 all-time in price realized. I will focus more on the 1884-S in today’s feature, first let’s look at the all-time list of Morgan Dollars. These are the top ten specimens. One interesting point, there are three diffident specimens for the 1893-S Morgan on this list.
The 1884-S is the top realized coin in the lots that Mr. Hansen purchased. The winning bid on the coin was $750,000. Only two coins have realized more, the 1886-O Larry Miller specimen in this sale. For the top Morgan of all times, you will have to go back seven years to a StacksBowers Sale where the Eliasberg/Lee 1889-CC MS68 specimen realized $881,250. Let’s study the 1884-S a little more in detail to determine why it is the #3 all-time coin.
1884-S Morgan Dollar, MS68 Ex: George Bodway /Jack Lee
Comments from Expert David Hall: The incredible MS68 coin surfaced at a Mid-West coin show in the 1980's. Dealer Chuck Walanka asked me if I wanted to see two special coins and then he proceeded to show me the 1884-S later graded by PCGS MS68 and the 1896-S later graded by PCGS MS69!!!!! Needless to say, I was virtually speechless. I bought the coins for what was a big price at the time...I think I paid him $40,000 for the pair. I sold both coins to collector George Bodway. Later, Jack Lee bought the Bodway collection intact, combining the two best Morgan dollar collections of the time into one. Jack continued to upgrade his set, building the greatest Morgan dollar set of all-time.
The #2 1884-S Morgan Dollar on Condition Census list is the Kenny Duncan, Jack Lee 1, Ralph Stone specimen that sold by Sotheby's on May 2018 realizing $735,000. Sotheby’s wrote this about the coin: Although the 1884-S had a healthy mint run and 3,200,000 were produced, most appear to have found their way into circulation and the survival of mint state examples is low. Wayne Miller ranked the date as rarity 10 (of 12) in grades of MS 60, and at rarity 11 in MS 65. The most famous 1884-S is that which graced the George Bodway collection and was part of the PCGS Tour (see Highfill, 2017, p. 1233 for an illustration). In 1994, along with the entire Bodway collection, it was sold to Jack Lee, who amassed what is universally acknowledged as the finest collection of Morgan silver dollars ever assembled. The present coin has only recently been published in the new edition of Highfill (2017) as having been Jack Lee's finest example prior to his acquisition of the Bodway specimen. According to Lee's own listing (p. 482) it was the finest known example. Mr. Lee acknowledged the Miller Specimen was the finest known. It is still impressive two specimens of the 1884-S Morgan Dollar holds #3 and #4 spots on the all-time price realized for Morgen Dollars.
With only three 1884-S certified GEM by PCGS, the Larry Miller MS68, the Larry Stone MS67, and there is one MS65, which is an unknown coin. Just to add another level of just how tough this coin is, Mr. Hansen’s previous coin was a MS63+, CAC, POP 6/15. This choice graded coin has current PCGS value of $80,000. The StacksBowers commentary states: The finest certified -- and undoubtedly the finest known -- 1884-S Morgan silver dollar, this famous condition rarity is at the threshold of numismatic perfection. The surfaces are highly lustrous with a beautiful softly frosted mint finish. Wisps of iridescent gold toning enhance both sides, appearing to drift toward the borders of the largely brilliant coin. The striking detail is razor sharp to full throughout the design, and the eye appeal is extraordinary, especially given that the 1884-S is one of the most challenging Morgan dollars to find in attractive Gem MS-65 preservation. This coin is one of the new POP 1/0 Key Dates for the Hansen Collection. This is one of the five coins with a PCGS weight grade of nine. The coin only trails the 1893-S in weighted average.
The provenance of the 1884-S MS68 is commonly traced back to Tom Tkacz, circa 1980. Thanks to our community member ColonelJessup, he provided some information on where Tom Tkacz obtained the coin. Rick commented that both the 1884-S and the 1896-S MS69 indeed have a provenance going back to Tom Tkacz of Glen Rock. Rick knew him prior 1979. He recalls Mr. Tkacz purchasing the two pieces together in late 1979 to early 1980 from Art Leister of PA for the combined sum of $20,000. Rick indicated this is verifiable from a Coin World article at that time. Unfortunately, Mr. Hansen came up short on the bidding for the 1896-S MS69. A pair of coins sold for $10,000 each, and 40 years later, $750,000 and $720,000. Thanks Rick for the cool story.
This gets us down to only one coin left. I save the 1893-S for last. It was not the most expensive Morgan that Mr. Hansen purchased, but it really does not get better for the Morgans than the 1893-S. Wait and Watch for one more!
Provenance: Tom Tkacz, 1980; Chuck Walanka, sold to David Hall; George Bodway; Jack Lee Collection; Larry H. Miller, (Stacks/Bowers 11/2020), lot #63627, realized $750,000, D.L. Hansen Collection.
1884-S Morgan Dollar MS68
PCGS POP 1/0, Finest PCGS Certified
Certification #07455496, PCGS #7156
PCGS Value Guide: $900,000 / realized $750,000
Ex: Chuck Walanka / Jack Lee / Larry H. Miller
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Upgrades from the Larry H. Miller Morgan Dollar Auction – Part 7
The True King of the Morgan dollar (David Hall)
Rarest Circulation Strike Issue in the Morgan Series (StakesBowers)
The 1893-S is the true "King" of the Morgan dollar series. The PCGS CoinFacts Board of experts estimated survival number for all grades is 9948. Dave Bowers has estimated that 6000 to 12,000 survive and I think those numbers are probably accurate. There are probably as many as 10,000 1893-S dollars in all grades. In Mint State condition, the 1893-S is absolutely the rarest Morgan dollar. And in Gem MS65 or better it's a super rare coin. CoinFacts survival estimate is 123 Mint State survivors and 18 MS65 or better survivors. I believe that MS65ob number is way too high. I think there may very well be 100 or so MS60ob survivors, but no way is there 18 Gems. I believe the true number of MS65 or better examples is probably 6 to 7 coins. The finest known example is the fabulous Jack Lee MS67, recently sold for over a million dollars. There are 5 or 6 others that have or would grade MS65 at PCGS. Over the years I have handled several Gems, but if there were truly more than 10 MS65ob coins then they would appear much more often than they do. These are comments from David Hall. The 1895 Proof Only is commonly considered the King of Morgan Dollars, but Mr. Hall makes a valid argument why the 1893-S is the Ture King. There has not been a Morgan sold in public auction for seven figures. Although, Legend Numismatics sold privately the fabulous Jack Lee 1893-S MS67 for a price reported to be in excess of one million dollars.
Ron Guth also writes about the million dollars sale: The Eliasberg 1893-S $1 in PCGS MS65 sold in a Legend Rare Coin Auction in October 2014 for a new record price of $646,250, surpassing the previous record held by the Norweb NGC MS67. The big question is how this new record price will affect the value of the spectacularly toned PCGS MS67 Vermeule/Lee/Coronet Collection example, which was acquired by the owner of the Coronet Collection in October 2008 for a price reported to be in excess of $1 million. We know now, the Norweb NGC MS67 has taken a turn for the worst. I would not think it is even considered the second finest presently (seen number seven below). The Elliot Goldman / Mark Yaffe / Ralph Stone holds the auction record for the 1793-S realizing $735,000 in 2018 Sotheby's Auction.
John Love commented: Many of the mint state examples that survive today come from a group of about 28 originals uncs that were found in an original mint bag of 1894-Ss that came into a bank in Great Falls, Montana in the early 1960's. I ended up acquiring about five pieces from the owner. The first one I paid $2800 for in about 1965 or 1966. The quality of the coins was approximately what we'd now call MS63 or MS64. This was the only find of this extremely important date that I know of. You would have thought that LaVere Redfield would have had some, but he didn't. Finding specimens in GEM condition was very rare. This is the list of seven to nine known 1793-S GEMs provided by StacksBowers Auctions. The ranking for #2 thru #6 on the list represents a tie between five coins in PCGS MS-65. (StacksBowers 11/2020):
1 : Vermeule- Lee Specimen, MS67: Today, the finest known 1893-S is widely regarded as the Cornelius Vermeule-Jack Lee specimen currently certified MS-67 by PCGS. Legend Numismatics, sold privately for a price reported to be in excess of one million dollars to Coronet Collection.
2 : Goldman - Stone Specimen, MS65: Ex Elliot Goldman Collection; Antelope Valley Silver Dollar Collection, consigned to the following via Barry Stuppler; our (Bowers and Merena's) sale of the Antelope Valley Silver Dollar Collection, January 1993, lot 128; Mark Yaffe; Jefferson Coin and Bullion; Ralph Stone Collection; Sotheby's sale of the Ralph and Lois Stone Collection, May 2018, lot 107, realized $735,000 (Auction Record).
3 : Eliasberg - Simpson Specimen, MS65: Ex J. Colvin Randall, March 1894, likely obtained from the Assay Commission; J.M. Clapp; John H. Clapp; Clapp estate, 1942; Louis E. Eliasberg, Sr.; our (Bowers and Merena's) sale of the Louis E. Eliasberg, Sr. Collection, April 1997, lot 2294; Stellar Collection; Sunnywood Collection; Bob R. Simpson Collection; Legend Rare Coin Auctions' sale of October 2014, lot 190, realized $646,25; Wizard of Oz Collection
4 : Larry Miller - Hansen Specimen, MS65: Ex Larry H. Miller Collection (Stacks/Bowers 11/2020), lot #6362, realized $600,000.
5 : Carter - Wayne Miler Specimen, MS65: Ex B. Max Mehl's Golden Jubilee Sale, May 1950, lot 958; Amon G. Carter, Sr.; Amon G. Carter, Jr.; our (Stack's) sale of the Amon G. Carter, Jr. Family Collection, January 1984, lot 364; Wayne Miller; Superior's sale of the Wayne Miler Collection Morgan and Peace Dollar Collection, January 1986, lot 1306; Heritage's Early Spring ANA Sale of March 1995, lot 5688, realized $154,000.
6 : Unconfirmed Specimen, MS65: The current PCGS Population Report includes a fifth entry for the 1893-S dollar in MS-65, but we have been unable to determine if that entry represents a fifth coin or is a resubmission of one of the examples listed above.
NGC Certified GEMS:
7 : Norweb Specimen, MS66: The coin that was once regarded as the finest known 1893-S Morgan dollar, and previously certified MS-67 by NGC, that coin has since been "conserved" and now displays subdued surfaces. It has most recently been certified MS-66 by NGC. Currently on PCGS Condition Census Report as MS65 estimated grade (tied for #2).
8 : Sanderson Family Specimen, MS65: Ex Family Collection / FUN Signature (Heritage, 1/2009), lot 5025, which realized $299,000; (Heritage, 4/2013), lot 4378, realizing $258,500; M L Moser Collection, #1 NGC Morgan Dollar Registry Set (Heritage, 4/2014), lot 5310, realizing $329,000.
9 : Unconfirmed Specimen, MS65: The current NGC Population Report includes a second entry for the 1893-S dollar in MS-65, but have been unable to determine if that entry represents a different coin.
I think the StacksBowers Auction summed it up pretty well: Needing no introduction, even among more casual collectors, the 1893-S is the lowest mintage and, in terms of total number of coins extant, also the rarest circulation strike Morgan silver dollar. A number of factors explain the sharp reduction in silver dollar production at all U.S. coinage facilities in 1893. The most significant is the onset of a serious economic depression that would eventually be known as the Panic of 1893. This downturn would help keep yearly silver dollar mintages depressed through 1895. In 1893 the San Francisco Mint struck only 100,000 circulation strike Morgan silver dollars.
1893-S Morgan Dollar, MS65 Ex: Larry Miller
The coin was described as: Offered here is a phenomenal high Condition Census Gem Mint State example of this legendary key date Morgan dollar issue. Richly and attractively toned, both sides display blended antique gold, blue-gray and pale rose patina. Splashes of even more vivid reddish-russet toning are evident along Liberty's profile and in isolated areas around the peripheries on both sides. Razor sharp striking detail is noted, even on the hair curls over Liberty's ear on the obverse and the eagle's breast features on the reverse. The luster is full and frosty and the surfaces are remarkably nice for an issue that is rare even at the lowest uncirculated grade levels. One of our most important offerings ever for the issue, and a leading highlight of the fabulous Larry H. Miller cabinet, this lovely and exceedingly rare 1893-S will surely find its way into another world class Morgan dollar set. The history of the coin prior the Larry Miller Collection is not given.
1893-S Morgan Dollar is seventh and last coin updated from the Larry H. Miller Morgan Dollar Collection. The last few weeks have been educational in the study of the Morgan Dollars. I hope you have learned something, I know I did. I have shared seven of the eight Morgan Dollars that Mr. Hansen purchased in the Larry Miller sale. The coin that I did not share was the 1886-S Morgan Silver Dollar, MS-67 (PCGS), CAC Approved. This PCGS POP 5/0 coin realized $66,000. The certification number is 06553739. This Morgan Dollar series continues to fascinate hundreds and hundreds of collectors. The registry is approaching a thousand entries for the basic set. I do not believe any other series even comes close. For the Lincoln Cent Basic sets, the total is just over 400. I would expect to see more Hansen Morgan Dollar Updates in the future, but we will end the Morgans for now with this 1893-S MS65, CAC Approved, POP 5/1 PCGS specimen. Thanks for watching the past couple weeks. Any comments or suggestions would be more than welcome.
Provenance: Ex Larry H. Miller Collection (Stacks/Bowers 11/2020), lot #6362, realized $600,000.
1893-S Morgan Dollar MS65
PCGS POP 5/1, CAC Approved
Certification #03134219, PCGS #7226
PCGS Value Guide: $735,000 / realized $600,000
Ex: Larry H. Miller Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Draped Bust Dollar Upgrade
After spending a couple weeks on Morgans, lets down shift and circle back to the Early Dollars. It appears that Mr. Hansen has his eyes on dollars throughout the different series. This update does not exactly make any improvement to the basic Hall of Fame set. Although, it does improve the Major Varieties Early Dollar set. If you missed the updates from the three purchases from Bruce Morelan’s Early Dollars Collection that was hosted by Legend Rare Coin Auctions back in October, this would be a good time to look back and refresh. Mr. Hansen was successful in buying three of them. For a quick recap, the first one was the 1795 2 Leaves, PCGS MS64+ CAC Approved, Ex: Lee/Morelan. The coin has a PCGS POP of 1/1 for the variety. The second was 1801 Draped Bust Dollar, MS65, Ex: Col." E.H.R. Green/Newman/Morelan (POP 2/0) and the third was the 1802 Draped Bust Dollar, Narrow Date, MS65, CAC Approved, Ex: Stickney/Eliasberg/Pogue/Morelan (POP 4/1). You may be asking why we are looking at these coins again. This new addition complements these purchases from a couple months ago.
There are five overdate die marriages for 1802 dollars. Each of these utilized obverse dies that were unique to those marriages, but some of the reverse dies were shared with other marriages dated 1801, 1802 and 1803. Die state studies reveal that the later dates were sometimes coined before the earlier dates, making the published mintages for each calendar year a bit misleading. BB-235 is rare, while the other four are relatively common. Mint State coins are scarce but available at a high price. Most survivors fall into the mid-grades of VG to VF, a typical situation for silver dollars of this period. The dollars of 1801-03 were well made in relation to earlier issues, with strong strikes from fresh or just moderately worn dies being the norm. (NGC). This new Hansen coin is a BB-234 and is the sole finest known certified MS64 by PCGS. There is a pair of 1802/1 “Wide Date” MS64 specimens. The other is a BB-233 that sold a couple months ago in the Bruce Morelan’s Early Dollars sale. The coin realized $193,875. Due to the CAC sticker on the Morelan coin (and lack of on the Pogue), that coin claims the title of “ABSOLUTE FINEST KNOWN 1802/1 dollar of ANY variety!”, according to Legend Race Coin Auctions.
1802/1 Bust Dollar, “B-3, BB-234, Wide Date” MS64 PCGS, Ex: Hain, Pogue
The new Hansen coin was last publicly sold in The D. Brent Pogue Collection, Part V Sale hosted by StacksBowers on March 2017. The coin was described as Deeply Toned 1802/1 Overdate BB-234 Dollar, Tied for Finest Certified by PCGS. As stated before, this coin is tied with the Moreland B-233 Specimen. The details of the coin is described as: Lightly reflective and highly lustrous surfaces show a remarkable breadth of autumnal toning, encompassing amber, olive, rose and slate, against a backdrop of deep gray. Peeks of brilliance cling near some obverse design elements. Design elements are well defined overall, though the right obverse stars and some more localized areas show softness. Aside from two parallel marks right of star 2, contact marks tend to be scattered and very minor. The hairlines present are not easily seen. An area of shallow granularity appears as minor discoloration behind Liberty's head, far below LI of LIBERTY. Another is seen below reverse star 13, visible behind the eagle's neck but mostly struck out on his chest and the upper tip of the shield. The toning lends a look of old-time originality, an appealing contrast to most high grade examples of this date.
The coin can be traced to the Buddy Ebsen Catalog of coins sold by Superior Galleries' in June 1987. StacksBowers described the ownership as: Its known provenance begins with the 1987 Buddy Ebsen sale, featuring coins collected by the beloved television and stage actor. While Ebsen was an avid and knowledgeable collector of gold coins from the United States and abroad, he does not appear to have pursued silver coins with similar vigor. Its early provenance has not yet been traced. The coin was later offered in the Hain Family sale by Stack’s in 2002. The coin was recently offered for sale by Rare Coin Wholesalers. The sale of this coin was mentioned by Legend RCA in their October sale: the Buddy Ebsen-Andy Hain-Brent Pogue MS64 is NOT CAC, and is currently being offered at $160,000 by a well-known dealer. The $160,000 figure sounds about right to me. The coin and one other dollar coin, 1800 MS63, Cert #40542340 was purchased. The ask price on the 1800 specimen was $62,500. The ask price for the 1802/1 was $183,800. Maybe, Mr. Hansen got a bundle deal on the pair!
The 1802/1 Wide Date is a nice upgrade for the collection. It appears the purchase of the three Morelan Early Dollars have motivated Mr. Hansen to seek out more. I have found this to be a common pattern. Great coins in a series drive the need for even more great coins. The 1802/1 Wide Date coin makes a nice pair with the 1802 B-41 Narrow Date MS65 purchased in the Morelan sale. I am guessing that Mr. Hansen is not done with the Early Dollars. Let’s watch and see.
Provenance: Buddy Ebsen Catalog (not his coin), (Superior 6/1987), Lot #1922; Andrew Hain Collection, (Stack's 1/2002), Lot #1527, realized $132,250; D. Brent Pogue Collection, (StacksBowers 3/2016), Lot # 5040, realized $82,500; D.L. Hansen Collection (purchased from Rare Coin Wholesalers, 11/2020).
1802/1 Bust Dollar, “B-3, BB-234, Wide Date” MS64 PCGS
Tied for Finest Coin at PCGS
Certification #40265595, PCGS #40094
PCGSGV: $175,000 asked $183,800
Ex: Hain, Pogue
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Correction on the 1802/1 Bust Dollar pedigree
This is a great community of numismatic professionals and experts. Then you have someone like ColonelJessup. Rick has the memory of an elephant. I don’t know how he does it. Yesterday, I pulled this from an old StacksBowers sale.
The coin can be traced to the Buddy Ebsen Collection that was sold by Superior Galleries' in June 1987. StacksBowers described the ownership as: Its known provenance begins with the 1987 Buddy Ebsen sale, featuring coins collected by the beloved television and stage actor. While Ebsen was an avid and knowledgeable collector of gold coins from the United States and abroad, he does not appear to have pursued silver coins with similar vigor. Its early provenance has not yet been traced.
Rick provided and verified the real story. All the silver and some gold coins in the sale of Buddy Ebsen Collection were not actually from the actor’s collection. Again, this was not a Buddy Ebsen coin nor were the vast majority of the sale. The coins were the remaining inventory of New Netherlands Coins (Moritz, then Charles Wormser). Kevin Lipton bought the entire group and consigned them en masse to the Goldbergs Auction of the Buddy Ebsen Collection. According to Rick, this is common knowledge to many veterans, and now to all of us. Rick indicated that all the coins in the Ebsen sale up through and including the $3 gold was from inventory of New Netherlands. Thanks Rick for the clarity.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Yes, I recall learning that on some past forum threads. Here is one of them:
https://forums.collectors.com/discussion/122367/buddy-ebsen-collection
i just love visiting this thread from time-to-time and walking away with nothing but a big grin on my face from viewing all those ravishing coins!
We can't see your grin!
Upgrades from the Illinois Collection – Part 1
It is not that surprising to me that we are back on the Morgan Dollars this soon. With the coins that Mr. Hansen purchased in the sale of Larry H. Miller Morgan Dollar Collection, he is fired up on Morgans. I thought I saw this coming after I talked a little about the Illinois Collection of Morgan Dollars a couple weeks ago. I indicated the set made a run for the top, but retiring in 2/12/2020 after reaching the runner-up spot all-time. I reported the set was assembled by Barry Stuppler and it took him 14 years, which encompasses five of the All-Time Finest Sets. Mr. Stuppler marketed the Illinois Set for $9.7 Million around the middle of 2019. I remember discussing the set with Mr. Hansen and John Brush late last year. The set was offered to Mr. Hansen, but I recall him saying at the time he was very happy with his #1 Prooflike Set of Morgans. Who would not be?
As stated before, Barry Stuppler ‘s desire was to keep the set together and sell intact. The set contained 12 PCGS POP 1/0 specimens; with most all the sole finest Illinois coins are from the Coronet Collection. After an unsuccessful attempt to sell intact, Mr. Stuppler broke the set and stated to sell individually. Well, now Mr. Hansen has decided to dip into the well, and it is a vast well of PCGS POP 1/0 specimens. The purchase made by The D.L. Hansen was for four PCGS sole finest specimens:
1881 MS67+ PCGS POP 1/0
1883-S MS67+PL PCGS POP 1/0
1898-O MS68DMPL PCGS POP 1/0
1903-S MS67+ PCGS POP 1/0
These four upgrades provided enough of a bump, that now the Hansen Collection is #4 in the all-time ranking. This is a move up from #6 and the first time ever on the all-time leader board for the Basic Morgan Dollars. It also represents a move into first place in the current rankings.
Of the four coins purchased, I believe two would be considered mid to high five figures and the other two low to mid six figures. For the biggie, the PCGS value on the 1883-S MS67+PL PCGS POP 1/0 specimen is $450,000. I will feature two of the coins starting with the 1903-S MS67+ PCGS POP 1/0 today. With the purchase of the eight Miller coins and now the four additional Illinois Top POP coins, The D.L. Hansen collection leaped from the 17th spot in the ranking just a few weeks ago to number four! I was expecting the focus to shift, but maybe not this quickly and intense.
1903-S Morgan Dollar, MS67+, Ex: Eliasberg/Lee/Simpson
The following is edited version authored by Q. David Bowers from my "Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia" (Wolfeboro, NH: Bowers and Merena Galleries, Inc., 1993): Quantities of 1903-S dollars were stored at the San Francisco Mint and paid out in small numbers over a long period of years, until November 1953, when several bags were released, followed by other dispersals during the next several years. At one time John Skubis owned a bag of this date. By the late 1950s, apparently most were gone from government storage. The issue was not represented to any extent in the 1962-1964 Treasury release. Most 1903-S dollars are well struck, very lustrous, and quite beautiful. The main problem is that there are not enough coins to satisfy the demand, and the issue has become high priced. This is an important, key issue. I have never handled a quantity of them, and few other dealers have either. In grades from MS-60 to 63, the 1903-S is one of the rarest of all Morgan dollars. In higher grades it is rare as well, but not in the top half dozen or so issues. I suggest that 1,000 to 2,000 survive in MS-60 to 62 grade, followed by an increase to 1,500 to 3,000 in MS-63, then back to 1,000 to 2,000 in MS-64, and, finally, just 400 to 800 in MS-65 or better preservation.
According to PCGS Rarity and Survival Estimates, they estimate 665 specimens in GEM condition. This sounds like a lot, but not really for Morgan Dollars with their popularity. For a very nice CAC Approved GEM, I would imagine you would be hard press to find one less than $10,000. Ruth Guth wrote: The 1903-S Morgan Dollar is a scarcer date and one which is tough to locate in all but the lowest grades. Uncirculated examples are scarce but not rare (the PCGS Population Report showed over 600 Mint State examples in November 2011), and the most frequently seen grade is MS-64. The finest 1903-S Silver Dollars certified by PCGS are a trio of MS-67's. Prooflike 1903-S Dollars are rare and Deep Mirror Prooflike examples are either exceedingly rare or may not even exist. Even as common as this coin seems, the 1903-S Morgan Dollar is considered a semi-key and carries a PCGS weight of seven.
This coin has a great pedigree and has been in many of the greatest collections of all-times. It is easy to understand why Mr. Hansen wanted this coin in his collection. The coin last appearance in a public sale was the 2014 Regency IX Auction in Las Vegas, NV. At that time, the coin was in a PCGS MS67 holder with CAC sticker. The coin was described by Legend as: This piece is tied for the finest known with the piece in the Coronet Collection. Besides killer, original toning, this coin is the epitome of perfection! It’s not often you can buy a coin, especially a Morgan, with a lineage that can be traced all the way back to the Mint. In addition, this was the last PCGS piece to sell at auction, when it was purchased by Sunnywood for $86,250.00 (Heritage 1/09). Since this sale, the coin has met the PCGS “plus” standard and is current the sole finest certified by PCGS. The coin realized $73,437.50 in October 2014.
Additional, Legend provides a fairly nice detail legacy of the coin: The better half of a match-toned pair of original superb gem Eliasberg Morgans (along with the 1902-S in this set), this is just a spectacular representative of this extremely tough late date in the series, and it is considered the finest known survivor. A lovely light gold and blue toned specimen with outstanding underlying luster; it is almost impossible to find this quality and originality in a 1903-S. Fortunately, the Clapp-Eliasberg collection included many such coins carefully preserved at or near the time of original issue. If anything, the best of the Eliasberg Morgans are still underrated! Purchased directly from the San Francisco Mint by J.M. Clapp, October 1902; to his son J.H. Clapp (1906); Clapp estate to Louis E. Eliasberg, Sr. (1942); to his son Richard A. Eliasberg (1976); Bowers & Merena, Eliasberg Sale (4/8/97:2321); Gary Wolkwitz; Heritage, Long Beach Signature Sale (6/1/01:6656); Jack Lee 2, Heritage 2009. Maybe the coin in 2014 was underrated, but not anymore.
The coin holds the auction record for 1903-S Morgan Dollar. In The Arno Collection which was auctioned by Heritage in January, 2009, it set an auction record of $86,250. In the auction, the coin was described as: The present coin is a magnificent specimen. The surfaces exude satiny luster underneath hints of heather, gold, and blue toning. The fields are well preserved, and the finely detailed devices show no distractions. The eye appeal is spectacular. This coin is simply one of the finest known specimens of this key date, and it boasts an illustrious pedigree. The sale included a fascinating story of the original owner: John M. Clapp was the patriarch of a family of distinguished numismatists. He was one of the first collectors to systematically order coins from the branch Mints every year. When he died, his collection passed to his son, John H. Clapp. In much the same way that T. Harrison Garrett's sons became the custodians of his collection after his death, the younger Clapp picked up where his father left off. John H. Clapp purchased coins at some of the most important auction sales of all time, including the George Earle Sale (Henry Chapman, 6/1912), where he acquired the finest known specimen of the ultra-rare 1825/4 half eagle. After Clapp's death, his collection (including the present coin) was purchased intact by Louis Eliasberg, and became the foundation for one of the greatest collections of all time. Eliasberg is the only collector to ever complete a collection of U.S. federal coinage by date, mintmark, and major variety.
Great coins have a way in making their way into great collection. Without the motivation gained by the Larry H. Miller Morgan Dollars, this coin may not have ever made its way into the D.L. Hansen Collection. It is really interesting how these things work themselves out. Mr. Stuppler listed the coin on his Mint State Gold website for $210,000. The coin has just set there for several months. He described the coin as: This FINEST KNOWN Morgan has toned surfaces. The majority of the surfaces have a light earthy tone with mauve undertones but hues of blues, purples, and burnt orange can also be found. Bold devices are strikingly articulated against predominantly clear fields. Beaming with original mint luster and coming to life in intricate details, this numismatic treasure is sure to elevate any collection or portfolio. He gave credit as being from the Eliasberg Collection: Here is a 1903 San Francisco $1 Silver Morgan Dollar, which has graded MS67+ by PCGS and has been holdered with the prestigious Illinois Set label. This Morgan is perfect for PCGS registry set collectors. Prior to the Illinois Set, this Morgan belonged to the also well-renowned Eliasberg set. Interesting, no mention of the other great collections this coin was in, Jack Lee, Bob Simpson, John H. Clapp, etc. The coin label pedigrees Eliasberg/Illinois Collection only. I hope Mr. Hansen at some point in the future; have all his top coins completely pedigreed as they rightfully should be. I will show you the top Stuppler purchase in a couple days, the 1883-S MS767+PL. Please wait and watch.
Provenance: John M. Clapp Collection, purchased from the San Francisco Mint in 10/1903; John H. Clapp Collection, sold intact in 1942 to Louis E. Eliasberg; Louis E. Eliasberg, Sr. Collection, (Bowers & Merena 4/1997), Lot #2321, realized $30,800; Gary Wolkwitz Collection, (Heritage 5/2001), Lot #6656, realized $40,250; Arno Collection, (Heritage 1/2009) Lot #5067, realized $86,250; Jack Lee Collection; Sunnywood Collection; Bob R. Simpson Collection, (Legend Auctions 10/2014) lot #220, realized $74,438; Illinois Set Collection (PCGS Set Registry), offered by Barry Stuppler (Mint State Gold), D.L. Hansen Collection.
1903-S Morgan Dollar MS67+
PCGS POP 1/0, CAC Approved
Certification #37728328, PCGS #7288
PCGS Value Guide: $175,000 / Asked $210,000
From Illinois Collection, Ex: Eliasberg/Lee/Simpson
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004