Historic Harry W. Bass Jr. Core Collection Part I - US Coins Signature Auction (2 of 8)
First Gold Proof Sold from Harry W. Bass Jr. Core Collection
In a post-sale press release by Heritage Auctions, this coin was describes as: Important highlights of the PCGS-graded Harry Bass Core Collection include: 1854 G$1 Type One, JD-1, Unique, PCGS PR65DCAM, Realized $720,000. This coin is unique as a proof - the only one known. The Heritage sale was only the second auction appearance of this piece. The first was in 1985 in Stack's section of Auction '85, where Bass acquired it for $68,750.
This coin becomes an important piece in the D.L. Hansen One Dollar Gold, Proof (1849-1858). This little 8-piece set is not easy. In comparison, the Smithsonian National Numismatic Collection only has five of the eight specimens. Louis Eliasberg and Harry Bass only had four of the eight! With the purchase of the unique coin, The D.L. Hansen Collection now stands at seven.
This Bass Foundation coin claims the title of the centerpiece of the set. The set is described by PCGS Registry as: This is a set of ultra-rarities! It comprises three different types, with the 1858 (Type Three) being the only date that is seen with any frequency (18 examples certified). The Type One Proofs (1849-54) are so rare that PCGS has not certified a single piece of any date as this is being written. The Type Two Proofs are dated 1854 and 1855 and are great rarities as well, with just eight specimens certified for the two dates combined. The Type Three Proofs begin in 1856 and this set includes the first three years of issue. Not only is this a great set, nabbing even a single coin in the series is a numismatic accomplishment. Some of the numbers in this PCGS description has changed over time. The numbers may change, but the overall challenge and difficulty of the set remains unaffected.
In the current PCGS Population Report, it shows only two type one coins certified by PCGS. The D.L. Hansen Set has two Type 1 specimens, but not the same two coins in the report. The Hansen 1849 proof specimen is not listed. Why is PCGS not recognizing the Hansen 1849 G$1 PR62 in the POP report? Maybe more discussion is warranted in the future.
The Hansen / Bass 1854 G$1 Type One, PCGS PR65DCAM, has been added. The other Type one in the report is a questionable specimen from the Park Avenue Collection that last appeared Heritage in a 2013 US Coin FUN Signature Auction. I have discussed this coin a few years ago and will save more discussion for a later time. For the time being, the importance of coin is that it the only coin missing in the set.
The Type II One Dollar gold was produced for only two years. This two-year production has resulted in only a handful of PCGS certified coins. There are eight to be exact! The Hansen set has a pair of DCAMS. We can start with the PCGS sole finest 1854 TYPE II, PR64+ DCAM (unique PCGS certified) from the Parmelee / Pittman Collections. The other coin is the 1855 PR65+ DCAM specimen. This is not finest but is a great specimen from the Boyd / Starr Collection with a host of other famous collectors in the provenance. I wrote in detail about this coin in a July 29, 2020. This would be a nice time to review that post for more information.
Finally, to complete this set from 1849 to 1858, there are three years of Type III. This type was produced to 1889, so a type-coin can easily be found in later years. The 31-piece (1859 – 1889) set are all Type III coins. According to my count, there are 33 PCGS certified Type III specimens from the early years of 1856, 1857, and 1858. The Hansen 1856 specimen is a PR65DCAM PCGS POP 3/1, his 1857 is a sole finest PR66DCAM specimen, and his 1858 is a tied for finest PR66DCAM specimen.
These seven coins sets the stage for a historic story. If the last coin is one day in the cards, it would cap off maybe the only complete set of ultra-rarities One Dollar Gold Proofs ever assembled. As stated earlier, Harry Bass only had four of the eight. In the meantime, let’s enjoy this unique rarity.
This is certainly a unique coin. When there is only one known, then the grade really don’t matter that much. Having the CAC approve striker may even be lesser significance. This coin is a superstar by all accounts. It’s not only unique, but has a PCGS GEM grade of PR65 Deep Cameo, and a CAC sticker to boot! There was no doubt that Mr. Hansen wanted this coin in his collection. The Hansen Team led by John Brush can proudly say, Mission Accomplished. Where does a coin like this come from? The Heritage cataloger tied to shed some light, but it was not much. Only one 1854 Type 1 gold dollar is known in proof format. The early history of this coin has puzzled numismatists for decades and its provenance before 1985 remains one of the most compelling mysteries in American numismatics. Its absolute rarity invites comparison with other, more famous issues, like the unique 1870-S three dollar gold piece (which is also part of the Bass Collection). Heritage Auctions is privileged to offer this landmark rarity from the Harry Bass Core Collection in just its second auction appearance.
Heritage reported on Mr. Bass' acquisition: Harry Bass purchased this coin at Stack's Auction in 1985 for $68,750, a remarkably high price at the time. It has been off the market ever since and has been viewed by millions of collectors while on display at ANA Headquarters in Colorado Springs and at major coin conventions, as part of the Harry Bass Core Collection. I personally have not seen this coin… yet. I am certain, it will be more impressive in hand, but again, why does this coin exist? There are a few possible origins with none I put more credence in than another. The first: Walter Breen reported the existence of one proof 1854 Type 1 gold dollar, from a set the Mint shipped to Bremen, Germany in 1854, in exchange for "cabinet coins." The set was supposedly "liberated" during World War II, and later turned up in Switzerland. Still later, the proof gold dollar was seen at the 1975 ANA Convention. Many numismatists believe this was the source of the present coin, which Harry Bass purchased from Auction '85.
There are other possibilities. This is one of the others: There was a complete 1854 proof set, from half cent through double eagle, offered in the A.C. Kline Sale (Moses Thomas and Sons, 6/1855), just one year after the coins were struck. The coins were offered individually in lots 167-168 for the copper, 249-254 for the gold, and 435-439 for the silver (the half dime and three cent piece were sold in the same lot). Lot 254 included examples of both the Type 1 and Type 2 gold dollars. All the coins were described identically as a "beautiful proof, fresh from the die." The gold coins sold for face value, but the copper and silver pieces sold for more. It should be noted that the cataloger of the Kline Sale called many coins proofs, including some from years in which modern numismatists believe no proofs were struck. It may well be that this 1854 "proof set" was really just a group of nice Uncirculated coins from the previous year. Still, the identical description of all the coins as "beautiful" proofs suggests they might all come from a single set, and the fact that the copper and silver issues sold for more than face value indicates they were proofs. It is unlikely that a collector would pay 15 cents for a half cent that was struck just the year before, with a mintage of 55,358 pieces, unless there was something special about it. It is theoretically possible that the present coin originated with this set.
The mystery continues with: Wayte Raymond told Breen he had seen another proof 1854 Type 1 gold dollar in 1951. That coin could have been either of the two mentioned above, and might have been another appearance of the coin offered here. Ultimately, the history of this coin before the early 1980s remains a mystery. The first verifiable appearance: Prominent numismatist Ken Goldman remembers Lester Merkin handling this coin in the early 1980s:"Merkin had this coin at a NASC Convention in Los Angeles. I saw it there & it was priced at $35,000. It was in the Ambassador Hotel in downtown LA. It was, as I recall, in the early 1980's. Merkin told me the coin came from Europe--which is entirely believable since he got many coins from Europe (some via Ed Shapiro) and I was good friends with him as well. I recall looking at that coin & was quite impressed. It was in a paper envelope laying out in his showcase."
Now, the only verifiable auction appearance before the Bass Sale last month was: The first auction appearance of this piece that can be positively confirmed was in lot 1874 of Auction '85 (Stack's, 7/1985). The lot was described under the heading "UNIQUE 1854 TYPE 1 PROOF GOLD DOLLAR" as: "1854 Type 1. Choice Brilliant Proof. Sharply struck, with glittering surfaces. This is the only known specimen of this variety. "In July of 1854, a Complete Proof Set in Gold, Silver and Copper, was struck for presentation to the City fathers of Bremen, Germany in exchange for a set of coins from Bremen. Several specimens exist of each denomination from the half cent to silver dollar. "The gold coins, however, seem to be limited to the single set given to Bremen, along with a few Type II gold dollars and about a half dozen three dollar gold pieces. The quarter eagle we sold in the 1976 A.N.A. and this gold dollar are UNIQUE. The whereabouts of the half eagle, eagle, and double eagle is unknown. "The 1854 Type 1 Proof Gold Dollar has never before been offered at public auction. Therefore, this is perhaps a once-in-a-lifetime opportunity. A remarkable specimen of the highest rarity.
I started by saying when there is only one known, then the grade really don’t matter that much. That could be said for the appearance too, but in the case of this coin, the appearance is breathtaking. The Heritage cataloger described as: This delightful Gem proof exhibits sharply detailed design elements throughout, with bold dots on Liberty's tiara and fine detail in her hair. Some faint vertical die file marks are evident on the lower left obverse, from the rim into the field, near stars 2 through 4. On the reverse, a slanting die file mark shows above the E in STATES. Evidence of die rust is visible on both sides. The well-preserved yellow-gold surfaces show deep orange highlights around the devices. Overall eye appeal is terrific and the high quality within the grade is confirmed by CAC. This coin is the only known 1854 Type 1 gold dollar in proof format. It has been 37 years since its last public offering, and it may be that long before it becomes available again.
This was Mr. Hansen highlight purchase in the Bass Part 1 sale and will certainly be a highlight in his collection. Who knows, it may one day be on the cover of one of his books. He was the winning bidder with $720,000 and I am certain he was very happy to land this rarity. Will the Hansen Family keep this coin off the market for another 35 years? That is certainly a possibility. It was sold in the Bass Auction with proceeds going to charity. The next sale of this coin, it has been communicated the proceeds also are going to charity.
Provenance: Lester Merkin displayed this coin at a NASC Convention held at the Ambassador Hotel in Los Angeles sometime in the early 1980s, per Ken Goldman; Auction '85 (Stack's, 7/1985), lot 1874, realized $68,750; Harry W. Bass, Jr.; Harry Bass Core Collection #1004; Harry W. Bass, Jr. Core Collection, Part I / US Coins Signature Auction (Heritage, 9/2022), lot 11003, realized $720,000, D.L. Hansen Collection.
Historic Harry W. Bass Jr. Core Collection Part I - US Coins Signature Auction (3 of 8)
Heritage cataloger wrote: Walter Breen declared the present coin was a "prooflike presentation piece," Was he right?
A heritage cataloger wrote in a 2013 sale: What makes a proof?" Perhaps the only universal criterion for "proof" in U.S. numismatics is the intent to make a special coin. While there are varying degrees of quality for regular-issue or business-strike coins, a proof is meant to be set apart from those peers -- apart and above. That said, the difference between a quality "prooflike" business strike and a true proof can be hard to discern, and the farther back in U.S. numismatic history one goes, the hazier the boundary gets. This is especially true in the pre-1858 era, when proof production was irregular and many protocols that apply to later 19th century issues were not in place.
The main take-a-way is the farther back in U.S. numismatic history one goes, the hazier the boundary gets. You cannot go much farther than 1798. Yes, you read that right, we are talking about a 1798 Quarter Eagle, MS64 Prooflike, CAC specimen. The coin has resided for more than a half century in the famous Harry Bass Collection. It now has a new home in the Dell Loy Hansen Collection with primary residence in the 12-piece Draped Bust $2-1/2 Gold (1796-1807) set. The coin has instantly obtained centerpiece status. The collection will need few more great coins as this one to establish control of this registry set.
There is not many swimmers in this pool. The current board leader is the St. Jude set owned by Jay Parrino. It is the only completed set in the all-time registry. The second set is Early Aurum owned Tony, one of our community members. Therefore, The Hansen set wraps up this ranking with the #3 set which is also the last set. The set GPA is 56.21, the lowest of the three sets. As a plus, the new Bass upgrade move the set GPA up from a previous grade of 55.053. The set GPA is affected mostly by the 1796 with Stars, XF45+ specimen. The POP on this coin is 1/25. The Bass specimen is a MS-63+, POP 1/1 that will be offered in a future sale. This may be one of the coins on Mr. Hansen’s radar. It will not be the end of the world if Mr. Hansen does not win this coin because I have counted as many as nine future Bass coins will be offered that will upgrade the Hansen 12-piece set. The opportunities for upgrade is abundant.
Of these nice future upgrades, maybe the most significant in the Bass 1798 Wide Date MS-60, POP 2/7. This is a coin that would expand the Hansen Collection, but the Bass grade and POP is just not that good. We will have to wait and see how much interest Mr. Hansen will have in the coin. By the end of the Bass sales, the Hansen 12-piece Draped Bust quarter eagle set could be significant finer than it is today. Let’s now look at currently the best coin the Mr. Hansen’s set.
Sole Certified Prooflike Example at PCGS
1798 Quarter Eagle, MS64 Prooflike, CAC. Ex: Young / Bass
The Hansen Team came out of the box strong by placing winning bids on three of the first four gold coins sold in the Harry Bass Part I Sale. The first gold coin sold was the 1849, No L, MS67+ Gold Dollar specimen for. $90,000. On the next lot, they obtained the Unique 1854 Gold Dollar, PR65 Deep Cameo, CAC specimen realizing $720,000. Just two lots later, they won the amazing 1798 Quarter Eagle, MS64 Prooflike, CAC specimen for $516,000. They spent $1,326,000 on the first three coins purchased in the sale. Of course, from there, things settled down a little.
Sometimes trying to obtain a top five condition census coin is not an easy task. With research by Heritage Auction, this is a list of the top five. Before the Bass grading event, only three of the top five 1798 Quarter Eagle were graded by PCGS: Black Cat / Jung MS65b Specimen; the Early Aurum AU58 Specimen; and Jay Parrino AU58 Specimen. There is the Chalkley Specimen, a MS64 NGC graded coin. With the Bass grading event, a fourth PCGS coin become available that is now in the D.L. Hansen Collection.
Heritage Auctions Roster of Significant Examples (August 2022)
1. Black Cat / Jung Specimen. MS65 PCGS. Norman Stack Type Set, sold privately 1990; Eric Streiner; Chicago Sale (Superior, 8/1991), lot 664, $291,500; Sotheby's (6/2000), lot 359, $268,500; D. Brent Pogue Collection, Part I (Stack's Bowers / Sotheby's, 5/2015), lot 1119, $763,750; The Type Set Collection (Oliver Jung) (per Joe O'Connor); Black Cat Collection (PCGS Set Registry).
2. Hansen / Bass Specimen, MS64 Prooflike PCGS.,CAC. Leo Young (7/1959), lot 956; RARCOA (1/1963), lot 78; RARCOA (7/1970), lot 1425; Harry W. Bass, Jr. Foundation Collection (HBCC# 3005); Harry W. Bass, Jr.; Harry Bass Core Collection #3005; Harry W. Bass, Jr. Core Collection, Part I / US Coins Signature Auction (Heritage, 9/2022), lot 11005, realized $516,000, D.L. Hansen Collection..
3. Chalkley Specimen, MS64 NGC. Arnold and Romisa Collections (Bowers and Merena, 9/1984), lot 2432; Auction '89 (David Akers, 7/1989), lot 1358; Auction '90 (Superior, 8/1990), lot 1249, $34,100; Chalkley Collection (Superior, 8/1991), lot 665, not sold; US, World and Ancient Coinage (Superior, 5/1993), lot 1377, $38,500; ANA Signature (Heritage, 4/2006), lot 1577, $143,750; Central States Signature (Heritage, 4/2008), lot 2405, $218,500.
4. Early Aurum Specimen, AU58 PCGS, CAC. H. Jeff Browning "Dallas Bank" Collection (Sotheby's/Stack's, 10/2001), lot 298, $29,900; Philadelphia Americana (Stack's Bowers, 9/2011), lot 5833, $48,875; Early Aurum Collection.
5. Jay Parrino Specimen, AU58 PCGS. No provenance recorded.
Walter Breen declared the present coin was a "prooflike presentation piece," Was he right? The Heritage Cataloger describes it best: Only 1,094 quarter eagles were produced in 1798, a mintage that is considerably less than the famous 1796 No Stars and With Stars quarter eagles combined. Even more famously, Walter Breen declared the present coin was a "prooflike presentation piece," and he was half right -- it is unquestionably Prooflike, as certified by PCGS with CAC endorsement. The sharp strike and high-contrast surfaces support Breen's assertion, but apparently Breen's vote did not sway the PCGS graders. With such a small mintage, most 1798 quarter eagle survivors are partially prooflike, although the near-Gem Uncirculated condition is what makes this coin truly impressive. I agree that coin is truly impressive even though the PCGS grader did not see justification to give the coin the “SP’ designation.
In the Heritage description, the accolades were flowing: This coin may the most visually stunning early quarter eagle we have seen in recent memory. Only a small rough patch (as struck) above M in AMERICA needs mention, and the deeply mirrored fields are superlative. Given the date's overall rarity and the challenging 1798 BD-1 die marriage, it is safe to say this opportunity is not likely to come again anytime soon.
The Hansen purchase could have stop with the first three coins, but that was not the case. The team continued with placing winning bids on at least five other coins. I would recommend you keep watching.
Provenance: Leo Young (7/1959), lot 956; RARCOA (1/1963), lot 78; RARCOA (7/1970), lot 1425; Harry W. Bass, Jr.; Harry Bass Core Collection #3005; Harry W. Bass, Jr. Core Collection, Part I / US Coins Signature Auction (Heritage, 9/2022), lot 11005, realized $516,000, D.L. Hansen Collection.
Historic Harry W. Bass Jr. Core Collection Part I - US Coins Signature Auction (4 of 8)
As for the high relief coins, have several hundred struck and allow the collectors of the country to obtain specimens as you suggested, none to be issued until the new issue is out. They should be preserved as the work of a great American artist. - Roosevelt in a July 29, 1907, letter to Treasury Secretary Cortelyou
Sometimes, the Hansen Team will purchase a coin that I did not expect. This was one of them. I did not see purchasing the Bass Indian Eagle coming. It is a nice coin, but it is not PCGS condition census. It was in lot 68 which was near the end of the gold portion of the sale. Did that play a factor, possibility, especially if the team came short of spending its allotted budget? The Hansen Team was not successful in winning one of the three coins that realized million-dollars or more. Also, the Indian Eagle CAC Approved coin went for slightly less than the PCGS Price Guide of $200,000, which is somewhat unheard of in today’s market. With all the great coins in the Bass sale, this coin may have not only been off my radar, but many others too.
The coin is from The Harry Bass Type set. In fact, David Calhoun acquired the coin in 2000 specifically for the Harry W. Bass, Jr. Foundation Collection. This means the coin was not part of the original Harry Bass personal collection. On the foundation website, The Bass U.S. Gold Type Set 1834-1933 is described as: The U.S. produced gold coins from 1795 to 1933, starting with denominations of $2.50, $5, and $10. More denominations were added after the discovery of gold in California – $1 in 1849 and $20 in 1850. Minted in one of the world’s most precious metals, these historic coins were designed by some of the finest artists of the day. With the passing of the Coinage Act of June 28, 1834, the authorized weight of gold coins was reduced. Because early gold pieces minted between 1795 and 1834 contain some of the rarest dates, many collectors choose to start their collections with Classic Head gold pieces of 1834.The Harry Bass Type Set includes examples of these later issue gold coins, 1834-1933, by design types, in all six denominations of the period. The Bass Type set consisted of 45 coins. The first gold coin sold in the Bass sale was from his type set, the 1849 Gold One Dollar, MS67+ specimen. As reported, Mr. Hansen purchased this coin. Also, the new Hansen 1854 Gold Dollar, PR65 Deep Cameo specimen is from the type set. The 1907 Indian Eagle, Wire Edge accounts for the third and final Bass type coin that D.L. Hansen purchased in the first sale.
The D.L. Hansen Indian Head Eagles (1907-1933) set is one of the few sets that has not made the PCGS top five leaderboard, and there is good reason for it. Currently the set is 100% complete with a GPA of 61.90. This is nearly 3.5 points behind the #9 All-Time Finest set, Dr. and Mrs. Steven L. Duckor. The set is severely handicapped by the 1933 Indian Head Eagle that is grade N1 by PCGS. It is a magnificent and appearing coin, but it has been doctored on the cheek. If this one coin was replaced with a straight grade M65 PCGS, the GPA would jump to 65.645. Due to popularly and the cost for condition census coins in this 32-piece set, it going to be an expensive undertaking for Mr. Hansen to improve this set where it becomes consistent with his other sets. Just what is that consistency? For the Hansen 69 sets that makes up his core US Entire Mint State Issues, his All-Time leaderboard average is 3.2. The average for the three eagle sets is 4.7 with clearly the Hansen Indian Head Eagles having a big time drag on the sets. As they say, to eat an elephant, take one bite at a time. Bass 1907 Indian Eagle, Wire Edge specimen is one little bite.
An Enduring Artistic Achievement
1907 Indian Eagle, Wire Edge, MS66, Ex: Bass
Typically, this coin is considered the first coin needed a 32-piece set. It is one of two early minted coins in a new series. In an early writing by expert David Akers: Technically, the 1907 Wire Edge is a pattern (Judd 1774) and not a regular issue, but it has always been considered an integral part of the series. The 500-mintage figure comes from a 1908 letter from dealer Henry Chapman to John Garrett, and this number is probably correct since Chapman had very close Mint connections. It is entirely possible that all 500 are really proofs rather than business strikes but there is no way to know for sure. One thing is certain, however; all of the known examples of this issue are of the same method of manufacture and so any distinction between "Proof" and "business strike" 1907 Wire Edge eagles is incorrect. The typical specimen is fairly well struck on the central devices (Indian and eagle) but very weakly struck at the borders. Lustre is typically good to very good. The surfaces are rather satiny with numerous random die scratches in the fields and the color is almost always light-yellow gold or light greenish gold although some specimens are either orange gold or very coppery in color. The 1907 Wire Edge is one of the highest priced issues of the series, but it is actually in the lower half of the series with respect to both overall rarity and condition rarity. Locating a specimen MS-63 or lower is not particularly difficult and even very choice pieces (MS-64) are seen fairly often. However, true gems are certainly very rare since there is no rim on these coins and so unprotected surfaces are prone to nicks and scratches. A few extraordinary quality examples exist that are very nearly as struck. Dr. John Wilkinson's was perhaps the nicest I have seen, but a handful of others are just about the same.
Over the years, the number of GEMs has increased. PCGS rarity and survival estimate is about 125 MS65 or better. PCGS certified GEMS stand at approx. 100. The sole finest is a MS67+, which is located in the Current Finest #1 Halfdome set. This set belongs to a client of Laura Sperber, Legend Numismatics. A high demanded is created for this coin due to being a one-year type required for high end type sets as well as the 32-piece set.
In the Heritage Bass sale, the cataloger described the design of the coin as: The Wire Rim 1907 Indian eagle represents the first mass-produced coin-form representation of Saint-Gaudens' gold ten-dollar designs and employs the softly detailed but bold, high-relief models used to prepare initial trial strikes that were sent to Mint officials and President Roosevelt for approval. The Wire Rim issue was struck in late August, well after stacking problems were identified with the patterns and a decision was made to reduce the design's relief. Saint-Gaudens' Wire Rim design brought the motifs and legends of the artwork directly to the edge of the planchet, thereby reflecting the practices and appearance of ancient Greek coinage and removing all element of "clutter" in the design. Later variants saw a rim added to the dies, followed by a complete reworking of the motifs into a lower relief that would strike well and stack properly.
The mintage was described as: The coinage of 500 Wire Rim tens in August and another 42 later in the year was not for the purpose of testing the design, as supposed by this coin's classification as a pattern for generations, but was instead apparently in response to a request from Roosevelt in a July 29, 1907 letter to Treasury Secretary Cortelyou: "As for the high relief coins, have several hundred struck and allow the collectors of the country to obtain specimens as you suggested, none to be issued until the new issue is out. They should be preserved as the work of a great American artist." The Wire Rim tens were distributed to favored collectors, dealers, Congressmen, Treasury Department officials, and select museums. Quantities were acquired by prominent dealers Thomas Elder and Henry Chapman, who sold them to their buyers over the course of several years. By 1915, 70 pieces remained in government possession as unsold, and these were melted, leaving a net mintage of 472, coins. The finest surviving of these is among the most sought-after ten-dollar gold coins known today.
This new Bass coins replaces a Hansen choice GEM PCGS MS63. This coin from the Poulos Family Collection was last sold in a Heritage 2019 ANA World's Fair of Money US Coins Signature Auction realizing $39,600. The Bass coin is valued at $200,000, so a significant increase in value. Although, the coin replaces a much lower grade coin, it is not a PCGS condition census Top Five. The coin just misses the top 10 with a POP of 20/10. Heritage describes the coin as: This piece displays a bold strike and luminous, glistening wheat-gold surfaces with exceptional preservation. A loupe fails to reveal notable abrasions, and the coin displays eye appeal that fully upholds its lofty numeric grade. Collectors will be hard-pressed to locate a visually superior coin in MS66, and finer examples of this coveted issue are decidedly rare and inaccessible for most collectors.
Provenance: Acquired for the Bass Core Collection by David Calhoun of the Harry W. Bass, Jr. Foundation (2000; Harry Bass Core Collection #1031; Harry W. Bass, Jr. Core Collection, Part I / US Coins Signature Auction (Heritage, 9/2022), lot 11068, realized $192,000, D.L. Hansen Collection.
Historic Harry W. Bass Jr. Core Collection Part I - US Coins Signature Auction (5 of 8)
The Core Collection consists of a complete run of ($3) proof coins from the first year of issue (1854) to the last (1889), plus circulation strikes of the branch mint issues. - 2022 The Harry W. Bass, Jr. Foundation
Mr. Hansen went fishing and caught a Three Dollar Bass for his gold set. This is an expansion coin. The set is now expanded to 77.78% complete. The Part 1 sale offered five $3 proof coins from the Bass Collection. Of the five coins, only one coin was missing from the Hansen collection, the 1868 proof. The Hansen Team was successful in purchasing the 1868, but did not have the winning bids on the remainder four. There are only two active collectors in this series, one is the Tom Benson and the other is Dell Loy Hansen.
The Bender set is 100% complete, although currently the set registry is showing one is missing. I think that may have to do with the upcoming sale. In its hay day, the set had a GPA rating of 67.385 with bonuses. The set was 52.78% DCAM at its max. These numbers took place in the 2015 timeframe. After years of new proofs being graded by PCGS, this rating has eroded a little over the years. In addition, the Bass grading event took a toll on the Bender Three Dollar Gold Proof set, along with many other gold sets. I know the Hansen sets lost several of their PCGS POP 1/0 specimens and many others took a one-coin drop. That’s not bad, because I would like to see all the top condition census coins graded by PCGS. With the new grading company proposed, I could see it becoming even harder. It just would make things clearer and consistent if all the top coins were in the same holder. If you have been watching the Simpson sales, you would have noticed that many of his top gold coins were still in NGC holders. He did crossover some, but not sure I understand the reason not all were done. I have a guess. Also, the Tyrant Collection has many of his gold eagles certified by NGC. I am sure there are others.
For the Bass grading event, I believe the grades were updated in the PCGS database on 8/5/2022. The Bender set dropped that day from 66.748 to 66.659. Somehow, some way, that I cannot explain, the Hansen Three Dollar proof set escaped the wrath of Bass grading, although, his three dollar mint strikes did not. The Hansen mint strike set dropped on 8/5/2022 from 62.375 to 62.153. This is solely contributed to the branch mint three dollar coins. You may recall me discussing this on a September 20, 2022 in a post featuring the 1854-D Three-Dollar Gold, POP 1/0 from the Georgia Gold Rush. If interested, it may be worth your review.
The Hansen three-dollar proof set is missing eleven coins. The Hansen Team should have double opportunity to purchase ten of the eleven coins in the either the upcoming parts of the Bass sale or the Tom Bender sale. Also, there will be multiple opportunities for upgrades. Do not forget the Bender 1855-S coin, graded PR64CAM PCGS which is one of two minted. The second specimen is lost. Whoever buys this coin will need to dig deep. Harry Bass did not have this coin and I am not sure if he was given the opportunity to acquire. P. Scott Rubin is recorded as saying: Until the time when and if the unique 1870-S three-dollar gold piece is offered for sale it is likely that the unique 1855-S Proof will remain the most expensive coin in the series. Oh boy. Which will be offered first?
Tied for Finest at PCGS
1868 Three Dollar Gold, PR65 Deep Cameo, Ex: Kosoff /Bass
This is the first Three Dollar gold addition to the D.L. Hansen Collection from the Harry Bass Collection. David Akers wrote: As one might surmise from the proof mintage of only 25 pieces, proofs of this date are extremely rare, comparable to those of 1865 and 1869 and only slightly less rare than those of 1861. As is the case with many dates in this series after 1866, deceptive first strikes do exist. However, once again, proofs are easily distinguishable from the business strikes by the position of the date. On proofs, the date is high in the field and slants down slightly to the right. On business strikes, the date is very low in the field and nearly level. Also, proofs that I have seen all had a 180-degree rotated reverse as do the proof gold dollars of the same date.
Just a few months ago, Tom Bender had the sole finest 1868 $3 PR65DCAM. Due to the Bass grading event, his coin became tied for finest at PCGS. Both coins will be offered in auctions. The Hansen Team decided to pop on the first opportunity, the Base example. In the Heritage’s Bass sale, the cataloger mentions the Bender coin: Proofs struck in coin alignment, should they exist, would have been struck at a different time. Either way, survival estimates range from as few as a dozen coins to as many as 20 pieces for the entire issue. The Harry Bass Core Collection proof coin is one of the finest, though all should be considered major rarities. Dannreuther provided an assessment of PR66 before it was recently sent to PCGS, who assigned a grade of PR65 Deep Cameo -- tied for finest at that service with the Tom Bender coin. If the coin had received the Dannreuther graded, it would be the sole finest at PCGS.
The Heritage cataloger described the mintage history as: The official mintage of 1868 three dollar gold pieces comprised 4,850 circulation strikes and 25 proofs, most of which were struck in medal alignment. John Dannreuther provides the following commentary in United States Proof Coins, Volume IV: Gold, Part I: "All the reported gold Proofs were delivered on February 20, 1868, so we may conclude that those with the medal alignment were struck on this date or a day or two before and represent the reported mintage. Of course, A. Loudon Snowden was the Chief Coiner from 1866 to 1876 and struck 'extras' for the 'friends of the Mint' on numerous occasions. Chief Engraver James B. Longacre noted in his journal in 1867 that the new Chief Coiner (Snowden, of course) had struck regular issue coins in copper without his permission!"
This was a very nice coin that expands the Hansen proof collection. According to PCGS current value, the Hansen Team got a deal on the coin. With a winning bid realizing $78,000, PCGS values this coin at $85,000. It is not a CAC Approved, so that hurts a little, with Heritage describing the coins as: Eye appeal is phenomenal. The razor-sharp relief elements exhibit a blanket of yellow-gold frost, and they stand out against the surrounding watery fields. A tiny spot in the obverse field adjacent to the I in AMERICA will identify the Bass coin in future appearances.
There is more that could be said about this coin and series, but I feel we will be talking a lot about Three Dollars Proofs in the future. This was just the first Bass $3 proof purchase with three auctions to go. At some point, the Tom Bender Three Dollars proofs will be offered by Heritage. So, don’t stop watching now because things should heat up a little.
Provenance: Harry Bass purchased from Abe Kosoff (7/23/1973); Harry W. Bass, Jr. Core Collection #4021, Part I / US Coins Signature Auction (Heritage, 9/2022), lot 11020, realized $78,000, D.L. Hansen Collection.
1868 Three Dollar Gold, PR65 Deep Cameo PCGS POP 2/0, Tied for Finest at PCGS Certification #46095409, PCGS #98031 PCGS Price Guide Unknown / Realized $78,000 Ex: Kosoff /Bass Core Collection
Historic Harry W. Bass Jr. Core Collection Part I - US Coins Signature Auction (6 of 8)
Five or six proofs are known or reported, but as auction records indicate, none has appeared on the market for more than two decades. - David Akers (1975/88)
This 1833 coin that Mr. Akers is referencing is a rare proof type, Capped Bust $2 1/2, Sm Dent. (1829-1834). Our friend and expect Ron Guth describe this type: This type is a continuation of the Capped Bust type of 1821-1827 but with one major difference: this type was struck in a close collar with a fixed diameter. The old, tooth-like border was replaced with a beaded border inside a raised rim. Modifications were also made to some of the design elements, mostly the stars and letters (which were made slightly smaller). All examples of this type have very low mintages, none of which exceeded 5,000 pieces. All of the dates in this series seem to be of equal rarity, with the exception of the 1834, which commands a significant premium in higher grades. Collectors will have difficulty finding any examples of this type, especially those with original surfaces and color. Many of the examples seen on the market today have been cleaned, repaired, or otherwise enhanced, so certification is a must. When you add proof coins to this description, the type rarity increase exponentially.
PCGS have certified nine specimens in this this type. Maybe more importantly, six of the nine certified is one date, 1831. Interesting, PCGS has certified six 1831 with only 2-3 known, which leads me to believe there could be some resubmits. This new coin expands D.L. Hansen 100-piece Complete U.S. Type Set, Proof (1801-1964) set. I call this set an All-Star collection because it is not a true set from core set concept. This is a very challenging set that PCGS describes as: This is a very difficult set to complete considering the rarity of some of the coins in proof. Just the gold alone is enough to send chills down your spine. It can be completed, but not without plenty of spare change! Completion in high grade would be worthy of the Hall of Fame.
The Hansen set is 91% complete missing nine coins. There are other collectors that are placing their all-star coins in this set, but none of the others are close to completion. The Black Cat set represented by Laura Sperber, Legend Numismatics is a distant second. Although it is possible to complete this set, I am not sure it can be done due to rarity availability. I would need to study it a little more. There have never been a set completed during the PCGS Registry era, and very possible it has never been achieved. PCGS indicates that it can be completed, so it is worthy to keep an eye on. The nine missing Hansen coins are:
Liberty Seated Quarter, No Drapery (1838-1839) - Two Known, and One PCGS Certified
Capped Bust Half Dollar, "HALF DOL." (1838-1839) - Possibly Fewer Than Ten Examples
Liberty Seated Half Dollar, Arrow & Ray (1853) - Possibly Fewer Than Seven Examples
Capped Bust $2 1/2, Large Dent. (1821-1827) – Possibly Fewer Than Eight Examples
Capped Bust $5, Sm Bust, Small Size (1829-1834) - Possibly Fewer Than Twelve Examples
Classic Head $5 (1834-1838) - Possibly Fewer Than Eight Examples
Draped Bust $10, Large Eagle (1804) - Three Known
Liberty $10, No Mot, Covered Ear (1838-1839) - Possibly Fewer Than Seven Examples
St. Gaudens $20, No Motto (1907) – Possibly Two or Three Known
You cannot miss the 1804 Proof Eagle that is required. Mr. Hansen was not successful in obtaining the Bass specimen. It realized $2,280,000 a few weeks ago. The finest known Simpson specimen from the Sultan of Muscat / 'Colonel' Green Collection realized $5,280,000 in January 2021. The only other known specimen is the King of Siam specimen impounded in the Tyrant Collection of Eagles. Another hard one will be the 1907 St. Gaudens $20, No Motto Proof specimen with only two, maybe three are known. There will be future opportunities for a couple of the other gold rarities in the upcoming Bass sales.
Sole Certified Cameo Proof at PCGS, Second-Rarest Capped Head Issue
This is another Bass proof addition and a very rare one indeed. Thirty to forty years ago, David Akers wrote: Five or six proofs are known or reported, but as auction records indicate, none has appeared on the market for more than two decades. They still have not appeared several additional decades later. The Hansen / Bass specimen that sold in the Heritage September 2022, sale of the Historic Harry W. Bass Jr. Core Collection Part I was the first auction appearance since the Eliasberg specimen sold by Bowers & Ruddy in October 1982. Also, there have not been any certified by PCGS except for the Hansen / Bass coin.
The Heritage description and Harry W. Bass, Jr. Museum states on appearances: The Harry W. Bass, Jr. Museum Sylloge adds clarity to the possible appearances of other 1833 Classic Head proofs, although some of the coins mentioned are actually prooflike circulation strikes and would not be called proofs today. There is likely some duplication within the listing. Notable examples include: the 1890 Parmelee Collection by New York Coin & Stamp Co.; the 1904 John G. Mills Collection specimen sold by the Chapman brothers; a 1914 William F. Gable Collection example sold by S.H. Chapman; the 1944 J.F. Bell Collection coin by Stack's; a 1945 Hall Collection example by Stack's; the 1948 Collection coin by Numismatic Gallery; and the exceptional 1982 Eliasberg Collection by Bowers and Ruddy Galleries. The Eliasberg coin appears on NGC's current population report as PR67 Cameo, and another high-grade proof is the impounded NNC coin in the Smithsonian Institution, from the original Mint collection in 1838. This is quite a number of early appearances with very little to show for today in the certified era. I would not be surprised if many of these early appearances turned out to be prooflike. In fact, it’s possible some of them are in PCGS MS and PL holders in collections presently.
The cataloger provided some mintage and rarity details on the 1833 Proof: By the early 1830s, mintages of Capped Head quarter eagles topped out at about 4,000 pieces. Rising gold prices was the culprit, and the situation did not change until the Coinage Act of 1834 took effect, ending the destruction of gold coins by reducing gold content by 6%. At the same time, the Classic Head design replaced the Capped Head motif, signaling the end of a of low-mintage gold coinage that is eagerly collected today and considered the mark of an advanced collection. Coinage minted prior to the newly enacted legislation was worth more than face value and no longer circulated to any extent, nor were any coins preserved except for a few fortunate exceptions. Among the few old-tenor coins saved was a tiny number recognized today as proofs. The 1833 Capped Head issue is only slightly more available than the rare 1834 With Motto quarter eagles in either circulation strike format or as proofs. Most of the circulation strike mintage was melted, and proofs were made in only small numbers. David Akers estimated five or six 1833 quarter eagle proofs survive. PCGS has certified just this solitary 1833 proof -- the only one at that service in either Cameo or non-Cameo format.
The coin's description highlighted: Rarest Capped Head Issue, Sole Certified Cameo Proof at PCGS. A coin this rare somewhat speaks for itself, but if you are looking for a description, this was provided by Heritage: This Harry Bass Core Collection coin is vibrantly lustrous, with strong contrast between sharply defined, richly frosted motifs and mirrorlike fields. It is second in quarter eagle rarity only to its 1834 Capped Head counterpart. The coin displays the E PLURIBUS UNUM motto above the eagle's head -- a device that was abandoned on the subsequent Classic Head design, not to return until 1908 Indian Head quarter eagles. We expect strong bidding for this outstanding example, renowned for its unimpeachable quality, dramatic mirroring, and spectacular eye appeal.
According to the PCGS Price Guide, the Hansen Team had to pay up for this coin. Well, not really, because a coin this rare and appear in auction so seldom, pre-determining the value is impossible. With a winning bid realizing $408,000 and PCGS values the coin at $250,000, this coin is a prime example of not being able to predict results. We will see this often as we continue to watch the purchases of the ultra-rarities from Harry W. Bass, Jr. Collection.
Provenance: Harry Bass purchased from Stanley Kesselman, November 8, 1978; Harry W. Bass, Jr. Core Collection #3030, Part I / US Coins Signature Auction (Heritage, 9/2022), lot 11011, realized $408,000, D.L. Hansen Collection.
Historic Harry W. Bass Jr. Core Collection Part I - US Coins Signature Auction (7 of 8)
Type 1, Capped Bust, Large Bust Half Eagles (1807 – 1812)
This is an eleven-coin subset of the Capped Bust Half Eagle set. The Capped Bust set requires 46 coins including the unique private owned 1822. This set is a subset of the 77-piece early half eagle gold set. The early set is a subset of the 319-piece half eagle (1795 – 1929) gold collection. As you can see, the subsets are building blocks for the overall collection of 4560 specimens of US Mint Strike Issues.
As for the Type 1, Capped Bust half Eagles, Ron Guth comments: John Reich came out with a completely new design for the $5 gold piece mid-1807. Reich turned Liberty's head 180 degrees so that she faced left and he enlarged the overall size of the head and the bust by lowering the cap Liberty wore on her head. Henceforth, the standard format was to include 13 stars. Reich redesigned the reverse by giving the eagle a more natural pose than on the heraldic eagle design (though eagle's do not normally carry shields on their breasts). The motto "E PLURIBUS UNUM" was added on a scroll hovering in the upper reverse field. The denomination, lacking on previous versions, was now clearly displayed as "5 D." at the bottom of the reverse. The new design was short-lived and ran from 1807 to 1812 before it was revamped again. All of the dates of this type have high mintages for early American gold coins. The 1810 was the first half eagle with a mintage that exceeded 100,000 coins (a number that remained unbeaten until it was crushed in 1820). All dates can be found in a wide range of conditions, up to and including Mint State. As are most early gold coins, these Large, Capped Bust Half Eagles get very pricey as the grade increases. Original, uncleaned examples with fresh, damage-free surfaces are very scarce and extremely desirable. Varieties include the 1808/7 and 1809/8 overdates plus variations in the size of the dates and denominations on 1810, and the denominations in 1811. Six years are represented in the set of eleven coins with the 1810 requiring four varieties.
With the purchase of the 1810 Half Eagle, Large Date, Small 5 half eagle from the Bass Gold Collection, the D.L. Hansen Collection now have a complete Type 1, Capped Bust, Large Bust set. More importantly, this purchase reduces the Hansen countdown to eleven.
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 11 remaining collectable coins in this quest. Two coins in The Major Varieties Set are not collectable, 1797 Half Eagle "Large Eagle, 15 Stars" and 1797 Half Eagle "Large Eagle, 16 Stars", 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 5
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)
Last 6
1842 Half Dollar "Small Date, Rev of 1839" (Survival est. 10 w/ 1 Mint State)
1820 Half Eagle "Curl Base 2, Sm Letters" (Survival est. 14 w/ 8 Mint State)
1798/7 Eagle "7X6 Stars" (Survival est. 25 w/ 3 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)
There are a few additional gold coins on the list that will appear in a future Harry Bass sales. Therefore, Mr. Hansen will have the opportunity to trim this list down a little more. As for rarity, David Akers wrote: Like the 1810 Small date, Small 5, this coin is a major rarity, one of the rarest in the entire Half Eagle series. Only four or five are known, all in the VF to EF range. Just one specimen has appeared on the market in more than 15 years, the EF that sold in Bowers' May 1976 sale and then reappeared at Bowers' October 1977 sale. According to the PCGS Auction website, the coin has appeared in auction only six times since 1999 when the Harry Bass duplicate (EF40) was sold in a Bowers & Merena Auction realizing a whopping $25,300. Of the six sales, the Ex: Brett Pogue (VF25) has appeared three times. The fifth appearance was an Ex: Jewelry specimen with mount removed that is un-certifiable with fine details. The sixth and final appearance was the new Hansen Sole Finest Specimen that appeared in the Bass sale realizing $264,000. Heritage explains this evolution a little better: The Bass duplicate was offered as part of the Bass II sale by Bowers and Merena in October 1999. It later appeared as lot 4667 in our January 2012 FUN Signature sale, where it was net graded VF30 by PCGS with smoothed fields and realized $74,750. Another confirmed example of the 1810 BD-3 half eagle is the D. Brent Pogue coin (also the Akers plate coin) certified VF25 by PCGS. It last appeared for sale in August 2018, realizing $78,000. A recently discovered fourth coin was offered in 2017, graded Fine Details by PCGS.
1810 Half Eagle, Large Date, Small 5, AU53, Ex: Krugjohann /Bass
Finest of Four Confirmed Examples
A count down coin that expands the collection always makes for a good purchase. A PCGS POP 1/0 specimen that expands the collection is very significant. With a PCGS POP 1/0 expansion specimen with a pedigree from the Harry Bass Foundation, can it get any better? Great purchase of a very rare coin.
The Heritage cataloger defines this rarity as: This Bass Core Collection coin is the finest of the four known examples by a wide margin and should command a significant premium as such. Described as "Extremely Fine, lustre surrounding the devices" in 1977, it still features glowing frost around well-struck, minimally worn devices. Yellow-gold surfaces with splashes of coppery color show an expected number of scattered abrasions, and an area of roughness near star 5 aids in pedigree identification. Heavy die cracks around the reverse rim explain why so few of these coins exist; the die must have shattered relatively early on. For all the early gold we have the pleasure of handling, this remarkable rarity still manages to stand out as a highlight for this cataloger, and we are certain it will enjoy a place of significance in its next owner's collection. .
Heritage Auctions’ Roster of 1810 Large Date, Small 5, BD-3 Half Eagles (9/2022)
1 - Hansen / Bass Specimen, AU53 PCGS, Ex: C.W. Krugjohann Collection (Bowers and Ruddy, 5/1976), lot 1326; Fairfield Collection (Arthur Lamborn) (Bowers and Ruddy, 10/1977), lot 1758; Harry Bass Core Collection #3118; Harry W. Bass, Jr. Core Collection, Part I / US Coins Signature Auction (Heritage, 9/2022), lot 11047, realized $264,000, D.L. Hansen Collection.
2 – Nugget / Pogue Specimen, VF25 PCGS, Ex: Americana Sale (Stack's, 1/2006), lot 3020, $46,000; Paul Nugget, sold privately; D. Brent Pogue Collection, Part III (Stack's Bowers / Sotheby's, 2/2016), lot 3139, $56,400; ANA Rarities (Stack's Bowers, 8/2018), lot 1267, $78,000.
3 – Bass (Duplicate) / Jacobson Specimen, VF30, Smoothed Fields PCGS, Ex: George Gozan Collection / Auction '80 (Paramount, 8/1980), lot 923, as part of a complete set of all four 1810 $5 varieties; Harry W. Bass, Jr. Collection, Part II (Bowers and Merena, 10/1999:794), lot $25,300; Harvey B. Jacobson, Jr. Collection (Heritage 1/2012), lot 4667, $74,750. Special Note: The current grade assigned to this example is one of the extremely rare instances where PCGS assigned a net grade to a coin. Earlier "problem" coins were assigned a "Genuine" label with no grade; later versions were given Details grades (i.e. "XF details, environmental damage".
4 – Jewelry Specimen, Fine details PCGS, Ex: Baltimore Sale (Stack's Bowers, 6/2017), lot 11393, $8,813, Note: Mount removed
The cataloger explained the significance of the coin: In a collection replete with high-grade condition rarities, a coin like this in AU53 might have a hard time standing out. It would be a mistake, however, to overlook it. This 1810 Large Date, Small 5 five dollar gold piece is one of the most significant offerings in the Bass Core Collection of early half eagles. Four die varieties exist for the 1810 Draped Bust Left half eagle. They feature varying combinations of Large and Small Dates with either a Tall, Small, or Large 5 in the denomination. The Large Date obverse and Small 5 reverse identify the BD-3 pairing. This is the standout key for the year, and, indeed, for the type. John Dannreuther writes in his fantastic 2006 series reference, Early U.S. Gold Coin Varieties: "This is the rarity for the Type! Estimates by most researchers have all been no more than a half dozen coins. This number might be generous, as the author can only trace four or five examples. Harry Bass owned two of them!"
The PCGS Price Guide did not attempt to provide a price guidance for this coin. It is a very rare, condition finest and has not appeared in public in 45 years. The Hansen Team treaded these unknown waters and was able to place a winning bid that realized $264,000. We are not done with the Type 1, Capped Bust half eagles. We will wrap and place a bow on the Capped Bust half eagles and Harry Bass purchases with the next post. Will see you then.
Provenance: See #1 Above
1810 Half Eagle, Large Date, Small 5, AU53 PCGS POP 1/0, Finest of Four Confirmed Examples Certification #46092676, PCGS #507597 PCGS Price Guide Unknown / Realized $264,000 Ex: Fairfield /Bass Core Collection
Historic Harry W. Bass Jr. Core Collection Part I - US Coins Signature Auction (8 of 8)
1821 Half Eagle Soars to $4.6 Million, Leading First Bass Collection Auction to $20.5 Million at Heritage Auctions - Heritage Press Release (September 30, 2022)
I must repeat this press release from the first post a couple weeks ago: A magnificent 1821 half eagle rode a burst of furiously competitive bidding all the way to $4.62 million, leading one of the finest collections of U.S. gold coins and related patterns ever assembled to $20,459,645 in Heritage Auctions' Harry W. Bass Jr. Core Collection Part I US Coins Signature® Auction - Long Beach Sept. 29. The Hansen Team missed out on purchasing the 1821 Half Eagle, but the sale for the Hansen Team, I would consider a success. They were successful in purchasing eight coins realizing $2,419,200.
The best Hansen purchase was the unique 1854 G$1 Type 1, PR65DCAM, CAC. Heritage highlighted this coin as a new record: An 1854 Gold Dollar, PR65 Deep Cameo: $720,000 (previous record: $68,750) The Hansen runner-up coin also set a record auction price: An 1833 Quarter Eagle, PR63 Cameo: $408,000 (previous record: $50,600)
Heritage has announced: The next installment of the Harry W. Bass Jr. Collection will be offered Jan. 4-9 through Heritage Auctions at the FUN US Coins Signature Auction. This will be Part II of what I understand to be four parts. This auction is planned to offer 111 coins with 20 feature coins. One of the big boys in this sale will be the 1825/4/1 half eagle PCGS PR62 proof valued at more than a couple million dollars. The first sale produced three coins realizing million dollars plus. Anyone want to guess how many will be produced from Part II of the sale? This will be a great sale to start the New Year.
Type 1, Capped Bust, Large Bust Half Eagles (1807 – 1812)
In the last post, we started the discuss on a subset of half eagles with the 1810 Half Eagle, Large Date, Small 5 specimen. Today, we will complete that discussion with a new sole finest 1811 Half Eagle. The 1811 increases the number of sole finest in the eleven coin subset to three with one other as tied for finest.
Also as can be seen, there are three coins outside the PCGS CC Top Five, the 1807 Bust Left, POP 28/8, the 1810 Small Date, Tall 5, POP 17/48, and 1811 Tall 5, and POP 13/8. While there is room for improvement, there is not much. This little subset would make a great little specialty set. I hope at some point in the future, PCGS will budget time to do a facelift to the US Issues Registry sets. The opportunity is abundant to correct errors and add sets that would be appealing to US Issue collectors.
1811 Half Eagle, Small 5, MS65+, Ex: Mitkoff /Bass
Sole Finest 1811 Half Eagle Representative
David Akers made comments this coin: Although just slightly more common overall than the 1811 Tall 5, the auction data clearly shows that the 1811 Small 5 is much more common in uncirculated condition having appeared 36 times in mint state in my 337 catalogue survey compared to only 17 times for the Large 5. Each variety of the 1811 is more rare than the 1807, 1809/8, 1810 Large Date, Large 5 and 1812 and despite being more often available than the Large 5 variety, choice uncirculated examples of the 1811 Small 5 are harder to locate than either the mintage or most cataloguers would lead one to believe.
Basically, Heritage describes the 1811 as a fairly simple coin with this one in high grade. They write: The 1811 half eagle is a fairly straightforward issue as far as die variety attribution is concerned. The two marriages for the year share a single obverse and are readily distinguished by the size of the 5 in the denomination. One has a Tall 5 (BD-1) that brushes the lower denticles, and the other has a Small 5 (BD-2) about evenly centered between the rim and lowest fletching. Both BD-1 and BD-2 are relatively collectible for early half eagles. John Dannreuther estimates in Early U.S. Gold Coin Varieties that 175 to 250 of the former and 225 to 300 of the latter survive, making this BD-2 variety the slightly more accessible of the two.
Although the accessibility to this coin is very good, there are other factors to consider. I think the Heritage cataloger describes it the best: That perceived degree of availability falls by the wayside when one evaluates an example in this unparalleled state of preservation. The Harry W. Bass, Jr. Core Collection representative in MS65+ condition is the sole finest 1811 Small 5 half eagle at PCGS, followed by seven submissions in MS64+. NGC reports four Gem grading events, although they are not differentiated by variety. We offered one of them as part of our January 2021 FUN Signature sale, lot 4090, where it realized $66,000 -- an auction record we suspect will be broken when this finest-certified example cross the block. This new POP 1/0 coins is not replacing a slug. Hansen existing coin and new duplicate is 1811 “Small 5” MS64+, CAC Approved, PCGS POP 7/0. I featured the coin on August 4, 2020. I am guessing the coin will remain as a duplicate in the Hansen second set. From my original notes, I believe Hansen still has his original Hansen pedigreed coin graded MS63+ that dates back to the 2016 timeframe. With the two coins that he had, why did he purchase this coin? Heritage describes an extraordinary opportunity in the following description.
This spectacular survivor presents thick mint frost over smooth medium yellow-gold surfaces. Liberty's curls and the eagle's shield and feathers are sharp, with that sharpness extending out to the peripheral regions. Magnification reveals trivial ticks that are remarkably minor for such an early half eagle. An extraordinary opportunity. This may have been an opportunity that Mr. Hansen could not pass up.
The Bass Part 1 sale updates has come to an end. FOR NOW! Stay turn to your local channel because I have a feeling this may not be the last Bass coin that the Hansen Team will catch. We could see the team heading to Florida in January for another fishing trip.
Provenance: William A. Mitkoff (6/6/1975); Harry Bass Core Collection #3122; Harry W. Bass, Jr. Core Collection, Part I / US Coins Signature Auction (Heritage, 9/2022), lot 11048, realized $151,200, D.L. Hansen Collection.
1811 Half Eagle, Small 5, MS65+ PCGS POP 1/0, Sole Finest BD-2 Certification #46092680, PCGS #507599 PCGS Price Guide Unknown / Realized $151,200 Ex: Mitkoff / Bass Core Collection
I will note here that I believe the 1812 coin has another registry error. The registry indicates there is one finer PCGS coin than the Hansen MS65+. I believe that to be incorrect.
I will note here that I believe the 1812 coin has another registry error. The registry indicates there is one finer PCGS coin than the Hansen MS65+. I believe that to be incorrect.
So I think this means the database error is in the Population Report page, while the Registry is working correctly.
Interesting. When I go to the pcgs# 8112 page for the 1812 $5 it does not show the die variety pcgs# 507601 (1812 $5 BD-1, Wide 5D).
But when I go to the pcgs# 507601 page, then it does show the pcgs# 8112 as the major variety (1812 $5).
Appears like a linking problem.
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https://youtube.com/watch?v=2YNufnS_kf4 - Mama I'm coming home ...................................................................................................................................................................... RLJ 1958 - 2023
So I think this means the database error is in the Population Report page, while the Registry is working correctly.
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Thanks Clint and lilolme.
I agree with you guys. First, let me say I apologized for taking the PCGS POP Report, ConFacts, and Registry as face value without investigation. I knew better, but I have not featured the 1812 Eagle before. This is the actual first time of any research the coin. As an end result, you are both right, but the issue is bigger than either of you have stated. From multiple sources, including reference publications, auction history, online info, PCGS POP Report, CoinFacts, and Registry, I have concluded there is no accurate listing of the top coins for this date, so I created one. I am not convinced my list is 100% correct, because I have a few more questions myself. This is what I know now as of now:
Currin’s Working List of TOP Five 1812 Half Eagles
1 - Hanks / Pogue Specimen – MS66+ PCGS, BD-1 Wide 5D, Cert #31914381, PCGS #507601, (POP 1/0, Overall POP 1/0) Sole Finest. 2 - Bass (HBCC # 3124) Specimen – MS66 PCGS, BD-1 Wide 5D (Double Struck Error), Cert #46092682, PCGS #E507601, (POP 1/0 for Error, Overall POP 1/1). T3 - Hansen Specimen – MS65+ PCGS, Unattributed BD1, Wide 5D, Cert #37292123, PCGS #8112, (POP 1/0 for Base Coin, Overall POP 3/2). T3 - Eliasberg / Pogue Specimen - MS65+ PCGS, BD-2 Closed 5D, Cert #31914382, PCGS #507602, (POP 1/0, Overall POP 3/2) Sole Finest Closed 5D variety. T3 – Unknown MS65+ Specimen - MS65+ PCGS, BD1, Wide 5D, Cert Unknown, #507601. (POP 1/1, Overall POP 3/2) Note: Listed in CoinFacts only
I found four PCGS numbers for the top five 1812 half eagles:
8112 – Base,
507601 – BD-1 (Two specimens on the list)
507602 – BD2
E507601 – BD-1 Error
Unfortunately, they are not properly linked in the PCGS references. At this point, I believe the Hansen 1812 is a PCGS POP 3/2, not the 1/1 as shown in the registry. These PCGS reports are full of errors, so must be careful using them. I was careless. The remaining GEMs are eight MS65 NGC and five MS65 PCGS. Thanks again.
Legend Rare Coin Auctions is proud to officially announce the BIGMO CIVIL WAR COLLECTION, a world-class, PCGS Hall of Fame Registry Set. Featuring many of the FINEST coins issued from 1861-1865 in all denominations from the cent to the double eagle, both Mint State and Proof. Part 1 will be offered in the May 2020 Regency Auction. It is an honor to handle this incredible collection! - Market Report, Legend Numismatics (March 2020)
Monty’s “BigMo Sale” brings back fond memories. Doug Winter (December 10, 2020) wrote: Formed by a Nevada specialized collector over the last decade or so, the Big Mo set of Civil War coinage was likely the single finest set of these issues ever assembled. In 2020, I believe this was a true statement by Mr. Winter, but almost two years later, that statement could be easily challenged. The Civil War Collection was dispense over two public auctions that Mr. Winter describes: The non-gold (and certain gold coins) was sold a few months ago and the remaining coins, all gold, were recently auctioned by Legend in their 12/3 Las Vegas sale. The Hansen Collection acquired a considerable number or both gold and non-gold coins. The gold was a very nicely assemble over a long period of time described as more than a decade. Mr. Winter described his experience with the collections as: I am quite familiar with this collection as I sold the collector a number of the coins and also competed against him in various auctions over the years. There were a number of Condition Census pieces and even a few finest-knowns. Each coin was graded by PCGS and a number were stickered by CAC.
In addition to the coins acquired from Doug Winter, I think BigMo acquired a large number of coins from Legend Numismatics and Legend Rare Coin Auctions. In a Legend March 2, 2020, press release: Company founder Laura Sperber picked up the collection personally and could not be more excited to offer this once in a lifetime collection to the collecting public. She had the following to say: “The BigMo Collection is truly one of the greatest individual collections I have ever seen assembled in my experience in this industry. The set is fully deserving of its Hall of Fame status and is the type of set most collectors could only dream of completing. I cannot wait to start showcasing this collection around the country and am ecstatic that Legend Rare Coin Auctions was offered the opportunity to bring this collection to market.”
In the Press Release for Part 1 Sale, Legend listed Specific Highlights from the BigMo Collection include:
10C 1863-S PCGS MS65+ CAC. Pop 1 (Purchase for Hansen Collection)
10C 1864-S PCGS MS66 CAC. Pop 1
25C 1865 PCGS PR67+ DCAM CAC. Pop 1
50C 1862-S PCGS MS66 CAC. Pop 1 (Purchase for Hansen Collection)
50C 1865 PCGS PR67+ DCAM CAC. Pop 1
$1 1861 PCGS PR66 CAC. Pop 1
$1 1862 PCGS PR66+ CAC. Pop 1 (Purchase for Hansen Collection)
$1 1863 PCGS PR67+ CAM CAC. Pop 1
$1 1864 PCGS MS65+ CAC. Pop 1
G$1 1861 PCGS MS67+ CAC. Pop 1 (Purchase for Hansen Collection)
G$1 1865 PCGS MS68+ CAC. Pop 1 (Purchase for Hansen Collection – 9/30/2022)
The Hansen Collection Improved with the ANA Auctions and now after he has picked up several of the BigMo Civil War highlights, he continuities his quest. As we saw a few weeks ago, The Bender Sale help put the Hansen Collection over the top for Seated Liberty Dimes, but you have to believe the BigMo 1863-S PCGS MS65+ CAC helped too. The Hansen Civil War set is a subset of this core 4560-piece US Mint Strike Issues Collection. The 110-piece set represents only approx. 2.5% of this core collection, although this is an important part. Described by PCGS as: This challenging set represents four years of our country's most trying times, the Civil War. It is a sampling of all denominations including some very tough silver issues: the 1861-S and 1864-S Seated quarters and most all the Seated dollars. Many of the gold issues are downright rare including the 1864-S Liberty Head $10. Completing this set will be an accomplishment as well also an historic representation of a difficult war that took place over 150 years ago.
Civil War Set with Gold, Circulation Strikes (1861-1865)
From a standpoint of popularity, there are not many collectors attempting to assemble this set. The Hansen Sets are #1 and #3 in the All-Time Finest with the BigMo Set sandwich in between. Mr. Hansen as continued to improve his Civil War set with upgrades. According to my count, approx. 50 coins has been upgraded since reaching #1 All-Time on 2/2/2020. If you are doing the numbers, that is about half the set! The key indicators in the 110-piece set are:
33 Coins PCGS POP 1/0, Sole Finest, highlighting the amazing 1863 G$1 PCGS MS68, CAC.
26 Coins PCGS Tied for Finest Certified, highlighting the incredible 1861-D $5, PCGS MS63, POP 4/0.
19 Coins PCGS Certified One Finer, highlighting the astonishing 1863 $3 PCGS MS68, POP 1/1.
21 Coins PCGS Condition Conesus Top Five, highlighting the remarkable 1864-S PCGS AU55, POP 1/2
The impressive set is 90.0% PCGS Condition Census, with 53.6% Finest PCGS. The set still have eleven coins that are not condition census which makes prime candidates for upgrading. The lowest grade coin in the set is the 1864-S $10 PCGS XF45, POP 5/9. To be the biggest drag on the set, the coin still has a PCGS Price Guide Value of $150,000!
With only eleven upgrades to go to achieve 100% PCGS Top Five, the Hansen team continues to work hard on the Civil War Set. Not only did Legend provided the 1865 Gold Dollar, PCGS MS68+ that is featured today, but also two Civil War half eagles were purchased from Legend Auctions Regency 54. Laura Sperber and Legend has been a great source for Civil War coinage for the past couple years. Certainly, Mr. Hansen and his collection has capitalized on that opportunity.
WOW! This 1865 is another MONSTER gold dollar – Legend Auctions cataloger (July 2020)
David Akers made comments this coin: Definitely one of the rarer dates in the series after 1861, although not nearly as scarce as the higher mintage 1863. As one can tell from the average grade of AU-52 and the auction records, the 1865 generally is available in high grade. (The majority of specimens that I have seen have either been Unc. or proof.) The 1865 gold dollar was also restruck, probably sometime after 1872, Like the similar $3 gold piece (J-440), the date slants up to the right whereas on the original 1865, the date is low and level. Supposedly two examples of this restrike are known, although I am unaware of their present location.
PCGS CoinFacts gives the survival estimate to be 80 in all grades. Oddly enough, PCGS has not graded very many specimens below the AU50 grade and 21 GEM MS65 or better. There are only two PCGS coins graded finer than a MS67. They are the MS68 from the Bob R. Simpson Collection and the sole finest MS68+ from the BigMo Collection that is now located in the D.L. Hansen Collection.
The provenance of the coin before the BigMo Collection is not known to me. The Legend cataloger states: This coin has never traded via auction. Assuming this is correct, the coin may not have a history. If it does, please let me know. Legend provides a few interesting facts including some I gave you earlier: This 1865 is another MONSTER gold dollar, entirely equal to the 1864 and is the FINEST KNOWN example of this date; finer than the Bob Simpson coin (PCGS MS68) and the extensively pedigreed Duckor Collection coin (PCGS MS66). Of the original mintage of 3,725, there are perhaps 80 examples that survive, according to PCGS CoinFacts estimates.
As most cases, Legend described the coin as phenomenal: This incredibly preserved SUPERB GEM has an intense mint luster that glows brilliantly from all over, and the fields on the obverse shows light, semi-Prooflike reflection. Both sides show a heart-pounding original blend of reddish orange, flaming gold toning. There are no spots or serious moarks of any kind, indeed, other than a thin line under the first L in DOLLAR, there is nothing but mint created marks on the fields anywhere. This coin is an awesome study in die states. The obverse had been heavily polished prior to use, creating striations in the die. Shortly after, the dies clashed, imposing reverse elements on the obverse, and vice-versa, there is also an internal cud in first L in DOLLAR. Sharply struck up devices, which have a very thick frosty texture, which stand out against the fields, imparting a near-cameo like appearance on the obverse. The eye appeal is phenomenal!
In this sale just over two years ago, Legend placed the value of the coins as: The current Collectors Universe Value is $65,000. Maybe, as in the case of the MS68+ CAC 1864, it had last sold for $70,500 back in 2015. Both coins are more than worthy of strong, six figure prices! The coin was passed. We can assume that either the collector retained the coin, or it has been in Legend’s inventory or someone else’s. I am not 100% sure and I did not ask John Brush to confirm, but it appear the coin can into the Hansen Collection through David Lawrence Rare Coin. The value of this coin has exploded since the auction of 2020. PCGS currently values the coin at $135,000. That is more than 100% price increase in two years. Did he get a good price on the coin? I don’t know. It was certainly not a must have coin, because he passed on the coin in 2020, and he has a very nice MS67 POP 3/2 that will go into his duplicate set. The coin makes for an interesting upgrade.
Provenance: BigMo” Collection; The Regency Auction 39 (Legend, 7/2020), Lot #92, Passed; Purchased by David Lawrence Race Coins in private transaction (9/2022) for The D.L. Hansen Collection.
Heritage 2022 Long Beach Expo US Coins Signature Auction (Part 1 of 2)
The event was part of an extraordinary week of Heritage Long Beach Expo auctions. The Harry W. Bass Jr. Core Collection Part I U.S. Coins Signature Auction reached $20,459,645, then the Long Beach Expo U.S. Currency Signature Auction — Long Beach brought $10,682,19. Last but not least, the second Long Beach Expo U.S. Coins Signature Auction finished at $17,875,326, boosting the three events to $49,017,169, setting a new all-time record for any Long Beach Expo numismatic auction total. - Coin Update (affiliated with Whitman Publishing, LLC.), October 13, 2022
“This event not only featured a wide range of exceptional coins, but also celebrated the collectors themselves, whose knowledge and passion drove their years of assembling these extraordinary collections,” says Todd Imhof, executive vice president at Heritage Auctions. “The fact that the magnificent 1875 $10 Liberty topped $1 million only underscores Heritage’s position as the premier global destination for the most serious numismatic collectors.” The sale may be remembered for another record shattering million-coin sale. An 1875 Liberty Eagle graded AU-53 by Professional Coin Grading Service drew a record winning bid of $1.02 million to lead Heritage Auctions’ Long Beach Expo U.S. Coins Signature Auction to $17,875,326 during October 6-9, 2022. This coin is in an OGH with a seven-digit certification number.
This coin was very much desired by Dell Loy Hansen, but he doesn’t always win. In a recent blog on David Lawrence website, John Brush described this lot as: One of these incredible opportunities came up 2 weeks ago when an 1875 $10 came to auction. It took us 3 years to acquire the AU50 that resides in the collection now! There are only 2 finer examples of this issue, and one of the coins (a PCGS AU53) is the one that came to auction. We saw this as an excellent opportunity for a minor upgrade. We paid $360k for the AU50 (That was a record then for a PCGS coin), so our thought process was that the AU53 might jump to $450k, and if for some reason, it jumped to $550k that would be insane. Well, somehow, we pushed the coin over 7 figures, and we lost. I hope that the winner truly understands what a special coin that was. Unfortunately, we don’t get the opportunity to see what the AU50 is worth now, but I’ll always prefer that coin in the set just because of the story of how long it took us to acquire one. And it occurred at the last major auction at a show before the pandemic left us at home.
This Ex: James Carter AU53 from the Allan H. Goldman Collection is certainly a nice coin, but also is the current Hansen AU50. I personally think the $1M could be well spent in an upcoming Bass or Bender sales. I wonder if the winning bidder was the Tyrant. He too has an AU50 Ex: Simpson/Hall Specimen. We will have to wait and see where the coin turns up, if it does go public. It is currently in a user's private PCGS Set Registry Inventory.
There were other coins in the sale that would improve the Hansen Collection. Including the 1875 Eagle, I had identified 19 coins from the offering of 1523 lots. Of these 19, all were upgrades except for the 1890 Eagle PR64DCAM and a low graded 1863 proof eagle that Hansen passed on. The 1890 Proof Eagle is from the Northern Lights of Vermilion Collection. John Brush appears to have successful bided on three coins from this collection, with the 1890 Proof Eagle leading the way.
In the Coin Update press release, the collection was described as: Another collection with magnificent lots in the auction was the 92-lot Northern Lights of Vermilion Collection, which focused largely on high-grade U.S. gold, including Eagles, Double Eagles, and Half Eagles. Four lots brought six-figure results. Top lots from the collection included, but were not limited to:
A 1931 Saint-Gaudens Double Eagle, PCGS MS-65 — $144,000
A 1931-D Double Eagle, PCGS MS-64 — $126,301.20
A 1915-S Panama-Pacific $50, PCGS MS-64+ — $108,000 An 1890 Eagle, PCGS PR-64DCAM – $108,000 — an auction record for this proof issue An 1867 Liberty Eagle, PCGS MS-62 – $99,000 — an auction record for this date and mintmark
At the end of the day, The Hansen Team purchased both eagles in bold above. I will feature the 1890 Proof today, and the 1867 MS62 in a couple days. You need to wait a little longer to see that coin.
PCGS describes the Liberty Head $10 Gold, Proof (1859-1907) set as: The No Motto $10 gold pieces of 1859-65 and the With Motto pieces of 1866-1907 come together in this incredibly challenging and rewarding set of rarities. The highest mintage of any coin in the set is 120 pieces, so you know that you're in for some work (and some fun!) in the pursuit of completion. The recognized classic is the 1875, but there are other dates that are proving to be just as rare in the Proof format. Let’s start a set! John Brush earlier stated his desire to acquire the 1875 Eagle in this sale but was unsuccessful. As a consolation prize, he was able to acquire the much-needed 1890 Proof Eagle.
The 1890 eagle proof reports a mintage of 63. CoinFacts Rarity and Survival Estimate is 30 for all grades, including five that are PR65 GEM or better. This GEM count may be low due to NGC population report has six graded PR65 and six more graded MS66. The PCGS population report does not come close to that number. The PCGS report has four GEM proofs.
Of those four 1890 PCGS GEM proof eagles, two are graded PCGS PR66DCAM. One of finest known is a PR66DCAM PCGS from the “The World’s Most Valuable Private Coin Collection, the Eagles of the Tyrant”, described as one of one of the finest. The other PCGS PR66DCAM is not known to the public. There is one PCGS PR65DCAM from the Flannagan Collection last appearing in the Long Beach Signature US Coin Auction on Jun 3, 2011. The fourth and last PCGS GEM is a PR65 that is also a mystery. PCGS CC#5 is the Hansen / Northern Lights, PR64DCAM, CAC.
A Stacks Bower catalogers wrote in 2017: This issue commences a run of more available Proof eagles that continues through the end of the Liberty Head series in 1907. However, in an absolute sense, all Proof Liberty Head eagles are rare... One of just 63 Proofs struck, survivors of which number no more than 30 to 35 specimens in all grades. This coin gets the Hansen Collection one step closer to completing a run of “more available Proof Eagles”. The Hansen run is currently from 1886 to 1907 with only one eagle missing, the 1896.
The Heritage cataloger description is short for this coin. The one paragraph states: With a stated mintage of just 63 proofs and only 25 to 30 individual coins believed known today, the proof 1890 ten dollar coins are rarities in any condition, much less with the quality and contrast seen on the present specimen. The bright yellow-gold color takes multiple forms, frosted to Deep Cameo standards over the devices and deeply mirrored through the fields; the fields also show a degree of orange-peel texture. A handful of faint hairlines combine to account for the grade, but the all-around visual appeal is impressive, as is only proper for what Walter Breen called "a coiner's caviar."
I will post one more update from the Heritage 2022 Long Beach Expo US Coins Signature Auction. The next feature coin is also an Eagle, but not a proof. As a hint, sometimes this coin is referred to be from the Post Civil War Reconstruction Era. I recently saw a thread by @semikeycollector asking to post one, so I will post Hansen’s recent eagle purchased at Long Beach. No more hints, just watch for the next posting.
Provenance: US Coins & Platinum Night FUN Signature Auction (Heritage, 1/2012 as NGC PR64 Ultra Cameo), lot #4989, realized $29,900; The Northern Lights of Vermilion Collection / Long Beach Expo US Coins Signature Auction (Heritage, 10/2022 as PCGS PR64 Deep Cameo), lot #3279, realized $108,000 (Auction Record), The D.L. Hansen Collection.
Legend Rare Coin Auctions is proud to officially announce the BIGMO CIVIL WAR COLLECTION, a world-class, PCGS Hall of Fame Registry Set. Featuring many of the FINEST coins issued from 1861-1865 in all denominations from the cent to the double eagle, both Mint State and Proof. Part 1 will be offered in the May 2020 Regency Auction. It is an honor to handle this incredible collection! - Market Report, Legend Numismatics (March 2020)
Monty’s “BigMo Sale” brings back fond memories. Doug Winter (December 10, 2020) wrote: Formed by a Nevada specialized collector over the last decade or so, the Big Mo set of Civil War coinage was likely the single finest set of these issues ever assembled. In 2020, I believe this was a true statement by Mr. Winter, but almost two years later, that statement could be easily challenged. The Civil War Collection was dispense over two public auctions that Mr. Winter describes: The non-gold (and certain gold coins) was sold a few months ago and the remaining coins, all gold, were recently auctioned by Legend in their 12/3 Las Vegas sale. The Hansen Collection acquired a considerable number or both gold and non-gold coins. The gold was a very nicely assemble over a long period of time described as more than a decade. Mr. Winter described his experience with the collections as: I am quite familiar with this collection as I sold the collector a number of the coins and also competed against him in various auctions over the years. There were a number of Condition Census pieces and even a few finest-knowns. Each coin was graded by PCGS and a number were stickered by CAC.
In addition to the coins acquired from Doug Winter, I think BigMo acquired a large number of coins from Legend Numismatics and Legend Rare Coin Auctions. In a Legend March 2, 2020, press release: Company founder Laura Sperber picked up the collection personally and could not be more excited to offer this once in a lifetime collection to the collecting public. She had the following to say: “The BigMo Collection is truly one of the greatest individual collections I have ever seen assembled in my experience in this industry. The set is fully deserving of its Hall of Fame status and is the type of set most collectors could only dream of completing. I cannot wait to start showcasing this collection around the country and am ecstatic that Legend Rare Coin Auctions was offered the opportunity to bring this collection to market.”
In the Press Release for Part 1 Sale, Legend listed Specific Highlights from the BigMo Collection include:
10C 1863-S PCGS MS65+ CAC. Pop 1 (Purchase for Hansen Collection)
10C 1864-S PCGS MS66 CAC. Pop 1
25C 1865 PCGS PR67+ DCAM CAC. Pop 1
50C 1862-S PCGS MS66 CAC. Pop 1 (Purchase for Hansen Collection)
50C 1865 PCGS PR67+ DCAM CAC. Pop 1
$1 1861 PCGS PR66 CAC. Pop 1
$1 1862 PCGS PR66+ CAC. Pop 1 (Purchase for Hansen Collection)
$1 1863 PCGS PR67+ CAM CAC. Pop 1
$1 1864 PCGS MS65+ CAC. Pop 1
G$1 1861 PCGS MS67+ CAC. Pop 1 (Purchase for Hansen Collection)
G$1 1865 PCGS MS68+ CAC. Pop 1 (Purchase for Hansen Collection – 9/30/2022)
The Hansen Collection Improved with the ANA Auctions and now after he has picked up several of the BigMo Civil War highlights, he continuities his quest. As we saw a few weeks ago, The Bender Sale help put the Hansen Collection over the top for Seated Liberty Dimes, but you have to believe the BigMo 1863-S PCGS MS65+ CAC helped too. The Hansen Civil War set is a subset of this core 4560-piece US Mint Strike Issues Collection. The 110-piece set represents only approx. 2.5% of this core collection, although this is an important part. Described by PCGS as: This challenging set represents four years of our country's most trying times, the Civil War. It is a sampling of all denominations including some very tough silver issues: the 1861-S and 1864-S Seated quarters and most all the Seated dollars. Many of the gold issues are downright rare including the 1864-S Liberty Head $10. Completing this set will be an accomplishment as well also an historic representation of a difficult war that took place over 150 years ago.
Civil War Set with Gold, Circulation Strikes (1861-1865)
From a standpoint of popularity, there are not many collectors attempting to assemble this set. The Hansen Sets are #1 and #3 in the All-Time Finest with the BigMo Set sandwich in between. Mr. Hansen as continued to improve his Civil War set with upgrades. According to my count, approx. 50 coins has been upgraded since reaching #1 All-Time on 2/2/2020. If you are doing the numbers, that is about half the set! The key indicators in the 110-piece set are:
33 Coins PCGS POP 1/0, Sole Finest, highlighting the amazing 1863 G$1 PCGS MS68, CAC.
26 Coins PCGS Tied for Finest Certified, highlighting the incredible 1861-D $5, PCGS MS63, POP 4/0.
19 Coins PCGS Certified One Finer, highlighting the astonishing 1863 $3 PCGS MS68, POP 1/1.
21 Coins PCGS Condition Conesus Top Five, highlighting the remarkable 1864-S PCGS AU55, POP 1/2
The impressive set is 90.0% PCGS Condition Census, with 53.6% Finest PCGS. The set still have eleven coins that are not condition census which makes prime candidates for upgrading. The lowest grade coin in the set is the 1864-S $10 PCGS XF45, POP 5/9. To be the biggest drag on the set, the coin still has a PCGS Price Guide Value of $150,000!
With only eleven upgrades to go to achieve 100% PCGS Top Five, the Hansen team continues to work hard on the Civil War Set. Not only did Legend provided the 1865 Gold Dollar, PCGS MS68+ that is featured today, but also two Civil War half eagles were purchased from Legend Auctions Regency 54. Laura Sperber and Legend has been a great source for Civil War coinage for the past couple years. Certainly, Mr. Hansen and his collection has capitalized on that opportunity.
WOW! This 1865 is another MONSTER gold dollar – Legend Auctions cataloger (July 2020)
David Akers made comments this coin: Definitely one of the rarer dates in the series after 1861, although not nearly as scarce as the higher mintage 1863. As one can tell from the average grade of AU-52 and the auction records, the 1865 generally is available in high grade. (The majority of specimens that I have seen have either been Unc. or proof.) The 1865 gold dollar was also restruck, probably sometime after 1872, Like the similar $3 gold piece (J-440), the date slants up to the right whereas on the original 1865, the date is low and level. Supposedly two examples of this restrike are known, although I am unaware of their present location.
PCGS CoinFacts gives the survival estimate to be 80 in all grades. Oddly enough, PCGS has not graded very many specimens below the AU50 grade and 21 GEM MS65 or better. There are only two PCGS coins graded finer than a MS67. They are the MS68 from the Bob R. Simpson Collection and the sole finest MS68+ from the BigMo Collection that is now located in the D.L. Hansen Collection.
The provenance of the coin before the BigMo Collection is not known to me. The Legend cataloger states: This coin has never traded via auction. Assuming this is correct, the coin may not have a history. If it does, please let me know. Legend provides a few interesting facts including some I gave you earlier: This 1865 is another MONSTER gold dollar, entirely equal to the 1864 and is the FINEST KNOWN example of this date; finer than the Bob Simpson coin (PCGS MS68) and the extensively pedigreed Duckor Collection coin (PCGS MS66). Of the original mintage of 3,725, there are perhaps 80 examples that survive, according to PCGS CoinFacts estimates.
As most cases, Legend described the coin as phenomenal: This incredibly preserved SUPERB GEM has an intense mint luster that glows brilliantly from all over, and the fields on the obverse shows light, semi-Prooflike reflection. Both sides show a heart-pounding original blend of reddish orange, flaming gold toning. There are no spots or serious moarks of any kind, indeed, other than a thin line under the first L in DOLLAR, there is nothing but mint created marks on the fields anywhere. This coin is an awesome study in die states. The obverse had been heavily polished prior to use, creating striations in the die. Shortly after, the dies clashed, imposing reverse elements on the obverse, and vice-versa, there is also an internal cud in first L in DOLLAR. Sharply struck up devices, which have a very thick frosty texture, which stand out against the fields, imparting a near-cameo like appearance on the obverse. The eye appeal is phenomenal!
In this sale just over two years ago, Legend placed the value of the coins as: The current Collectors Universe Value is $65,000. Maybe, as in the case of the MS68+ CAC 1864, it had last sold for $70,500 back in 2015. Both coins are more than worthy of strong, six figure prices! The coin was passed. We can assume that either the collector retained the coin, or it has been in Legend’s inventory or someone else’s. I am not 100% sure and I did not ask John Brush to confirm, but it appear the coin can into the Hansen Collection through David Lawrence Rare Coin. The value of this coin has exploded since the auction of 2020. PCGS currently values the coin at $135,000. That is more than 100% price increase in two years. Did he get a good price on the coin? I don’t know. It was certainly not a must have coin, because he passed on the coin in 2020, and he has a very nice MS67 POP 3/2 that will go into his duplicate set. The coin makes for an interesting upgrade.
Provenance: BigMo” Collection; The Regency Auction 39 (Legend, 7/2020), Lot #92, Passed; Purchased by David Lawrence Race Coins in private transaction (9/2022) for The D.L. Hansen Collection.
Legend Rare Coin Auctions is proud to officially announce the BIGMO CIVIL WAR COLLECTION, a world-class, PCGS Hall of Fame Registry Set. Featuring many of the FINEST coins issued from 1861-1865 in all denominations from the cent to the double eagle, both Mint State and Proof. Part 1 will be offered in the May 2020 Regency Auction. It is an honor to handle this incredible collection! - Market Report, Legend Numismatics (March 2020)
Monty’s “BigMo Sale” brings back fond memories. Doug Winter (December 10, 2020) wrote: Formed by a Nevada specialized collector over the last decade or so, the Big Mo set of Civil War coinage was likely the single finest set of these issues ever assembled. In 2020, I believe this was a true statement by Mr. Winter, but almost two years later, that statement could be easily challenged. The Civil War Collection was dispense over two public auctions that Mr. Winter describes: The non-gold (and certain gold coins) was sold a few months ago and the remaining coins, all gold, were recently auctioned by Legend in their 12/3 Las Vegas sale. The Hansen Collection acquired a considerable number or both gold and non-gold coins. The gold was a very nicely assemble over a long period of time described as more than a decade. Mr. Winter described his experience with the collections as: I am quite familiar with this collection as I sold the collector a number of the coins and also competed against him in various auctions over the years. There were a number of Condition Census pieces and even a few finest-knowns. Each coin was graded by PCGS and a number were stickered by CAC.
In addition to the coins acquired from Doug Winter, I think BigMo acquired a large number of coins from Legend Numismatics and Legend Rare Coin Auctions. In a Legend March 2, 2020, press release: Company founder Laura Sperber picked up the collection personally and could not be more excited to offer this once in a lifetime collection to the collecting public. She had the following to say: “The BigMo Collection is truly one of the greatest individual collections I have ever seen assembled in my experience in this industry. The set is fully deserving of its Hall of Fame status and is the type of set most collectors could only dream of completing. I cannot wait to start showcasing this collection around the country and am ecstatic that Legend Rare Coin Auctions was offered the opportunity to bring this collection to market.”
In the Press Release for Part 1 Sale, Legend listed Specific Highlights from the BigMo Collection include:
10C 1863-S PCGS MS65+ CAC. Pop 1 (Purchase for Hansen Collection)
10C 1864-S PCGS MS66 CAC. Pop 1
25C 1865 PCGS PR67+ DCAM CAC. Pop 1
50C 1862-S PCGS MS66 CAC. Pop 1 (Purchase for Hansen Collection)
50C 1865 PCGS PR67+ DCAM CAC. Pop 1
$1 1861 PCGS PR66 CAC. Pop 1
$1 1862 PCGS PR66+ CAC. Pop 1 (Purchase for Hansen Collection)
$1 1863 PCGS PR67+ CAM CAC. Pop 1
$1 1864 PCGS MS65+ CAC. Pop 1
G$1 1861 PCGS MS67+ CAC. Pop 1 (Purchase for Hansen Collection)
G$1 1865 PCGS MS68+ CAC. Pop 1 (Purchase for Hansen Collection – 9/30/2022)
The Hansen Collection Improved with the ANA Auctions and now after he has picked up several of the BigMo Civil War highlights, he continuities his quest. As we saw a few weeks ago, The Bender Sale help put the Hansen Collection over the top for Seated Liberty Dimes, but you have to believe the BigMo 1863-S PCGS MS65+ CAC helped too. The Hansen Civil War set is a subset of this core 4560-piece US Mint Strike Issues Collection. The 110-piece set represents only approx. 2.5% of this core collection, although this is an important part. Described by PCGS as: This challenging set represents four years of our country's most trying times, the Civil War. It is a sampling of all denominations including some very tough silver issues: the 1861-S and 1864-S Seated quarters and most all the Seated dollars. Many of the gold issues are downright rare including the 1864-S Liberty Head $10. Completing this set will be an accomplishment as well also an historic representation of a difficult war that took place over 150 years ago.
Civil War Set with Gold, Circulation Strikes (1861-1865)
From a standpoint of popularity, there are not many collectors attempting to assemble this set. The Hansen Sets are #1 and #3 in the All-Time Finest with the BigMo Set sandwich in between. Mr. Hansen as continued to improve his Civil War set with upgrades. According to my count, approx. 50 coins has been upgraded since reaching #1 All-Time on 2/2/2020. If you are doing the numbers, that is about half the set! The key indicators in the 110-piece set are:
33 Coins PCGS POP 1/0, Sole Finest, highlighting the amazing 1863 G$1 PCGS MS68, CAC.
26 Coins PCGS Tied for Finest Certified, highlighting the incredible 1861-D $5, PCGS MS63, POP 4/0.
19 Coins PCGS Certified One Finer, highlighting the astonishing 1863 $3 PCGS MS68, POP 1/1.
21 Coins PCGS Condition Conesus Top Five, highlighting the remarkable 1864-S PCGS AU55, POP 1/2
The impressive set is 90.0% PCGS Condition Census, with 53.6% Finest PCGS. The set still have eleven coins that are not condition census which makes prime candidates for upgrading. The lowest grade coin in the set is the 1864-S $10 PCGS XF45, POP 5/9. To be the biggest drag on the set, the coin still has a PCGS Price Guide Value of $150,000!
With only eleven upgrades to go to achieve 100% PCGS Top Five, the Hansen team continues to work hard on the Civil War Set. Not only did Legend provided the 1865 Gold Dollar, PCGS MS68+ that is featured today, but also two Civil War half eagles were purchased from Legend Auctions Regency 54. Laura Sperber and Legend has been a great source for Civil War coinage for the past couple years. Certainly, Mr. Hansen and his collection has capitalized on that opportunity.
WOW! This 1865 is another MONSTER gold dollar – Legend Auctions cataloger (July 2020)
David Akers made comments this coin: Definitely one of the rarer dates in the series after 1861, although not nearly as scarce as the higher mintage 1863. As one can tell from the average grade of AU-52 and the auction records, the 1865 generally is available in high grade. (The majority of specimens that I have seen have either been Unc. or proof.) The 1865 gold dollar was also restruck, probably sometime after 1872, Like the similar $3 gold piece (J-440), the date slants up to the right whereas on the original 1865, the date is low and level. Supposedly two examples of this restrike are known, although I am unaware of their present location.
PCGS CoinFacts gives the survival estimate to be 80 in all grades. Oddly enough, PCGS has not graded very many specimens below the AU50 grade and 21 GEM MS65 or better. There are only two PCGS coins graded finer than a MS67. They are the MS68 from the Bob R. Simpson Collection and the sole finest MS68+ from the BigMo Collection that is now located in the D.L. Hansen Collection.
The provenance of the coin before the BigMo Collection is not known to me. The Legend cataloger states: This coin has never traded via auction. Assuming this is correct, the coin may not have a history. If it does, please let me know. Legend provides a few interesting facts including some I gave you earlier: This 1865 is another MONSTER gold dollar, entirely equal to the 1864 and is the FINEST KNOWN example of this date; finer than the Bob Simpson coin (PCGS MS68) and the extensively pedigreed Duckor Collection coin (PCGS MS66). Of the original mintage of 3,725, there are perhaps 80 examples that survive, according to PCGS CoinFacts estimates.
As most cases, Legend described the coin as phenomenal: This incredibly preserved SUPERB GEM has an intense mint luster that glows brilliantly from all over, and the fields on the obverse shows light, semi-Prooflike reflection. Both sides show a heart-pounding original blend of reddish orange, flaming gold toning. There are no spots or serious moarks of any kind, indeed, other than a thin line under the first L in DOLLAR, there is nothing but mint created marks on the fields anywhere. This coin is an awesome study in die states. The obverse had been heavily polished prior to use, creating striations in the die. Shortly after, the dies clashed, imposing reverse elements on the obverse, and vice-versa, there is also an internal cud in first L in DOLLAR. Sharply struck up devices, which have a very thick frosty texture, which stand out against the fields, imparting a near-cameo like appearance on the obverse. The eye appeal is phenomenal!
In this sale just over two years ago, Legend placed the value of the coins as: The current Collectors Universe Value is $65,000. Maybe, as in the case of the MS68+ CAC 1864, it had last sold for $70,500 back in 2015. Both coins are more than worthy of strong, six figure prices! The coin was passed. We can assume that either the collector retained the coin, or it has been in Legend’s inventory or someone else’s. I am not 100% sure and I did not ask John Brush to confirm, but it appear the coin can into the Hansen Collection through David Lawrence Rare Coin. The value of this coin has exploded since the auction of 2020. PCGS currently values the coin at $135,000. That is more than 100% price increase in two years. Did he get a good price on the coin? I don’t know. It was certainly not a must have coin, because he passed on the coin in 2020, and he has a very nice MS67 POP 3/2 that will go into his duplicate set. The coin makes for an interesting upgrade.
Provenance: BigMo” Collection; The Regency Auction 39 (Legend, 7/2020), Lot #92, Passed; Purchased by David Lawrence Race Coins in private transaction (9/2022) for The D.L. Hansen Collection.
Heritage 2022 Long Beach Expo US Coins Signature Auction (Part 2 of 2)
This is the final posting on the Long Beach Expo event. A couple days ago, I featured the 1890 Eagle, PCGS PR-64DCAM from The Northern Lights of Vermilion Collection. This coin and the much-discussed 1875 Eagle were not the only highlights. Coin Update website described other specimens as: The event’s top lot (1875 Liberty Eagle) was one of 105 sold from the Allan H. Goldman Collection. A prominent New York real estate investor with a passion for both coins and American currency, Goldman also was a passionate collector. The lots in this auction mark the second installment of his collection offered through Heritage; Part I was presented during Heritage Auctions’ July Long Beach/Summer FUN Signature auction, in which these fresh-to-market coins generated exceptional results.
Also, one of our community members placed a magnificent set of Proof Seated Liberty Dollars in the sale that results in big numbers: Three lots from the Perfection Collection of Proof Seated Liberty dollars drew winning bids of $90,000 or more, including an 1863 Liberty Seated dollar graded PCGS PR-67+CAM and an 1866 With Motto dollar certified PCGS PR-67CAM that each drew a winning bid of $96,000, and an 1860 Liberty Seated dollar graded PCGS PR-67CAM that brought $90,000. The 1860 and 1866 With Motto dollars set new auction records for those issues. As previous reported, I had identified 19 coins from the offering of 1523 lots. Of these 19, John Brush and the Hansen Team was successful in winning four. They are shown in table below.
I believe at this time; Dell Loy Hansen is hooked on gold. Of the 19 coins, six coins were non-gold with none of them purchased. In a recent Legend Market Report, they stated: We normally do not make general public recommendations. BUT we think the timing is right: BUY BETTER GOLD COINS NOW. Yes, gold coins have been strong for the last 2 years. This is certainly what we are seeing as a pattern in Hansen purchases. He is buying “better gold coins”. He has a choice of series to buy, including, G$1, $2.5, $3, $5, $10, and $20 in Basic, Majority Varieties and Proofs. That translates to a wide-open gold market for US issued gold coins. The Hansen Eagle Collection is ripe for the improvement opportunities. We saw an Eagle proof addition in the last posting, today is an upgrade to the mint state eagle set.
The entire mint state Liberty Head Eagle set is 184 coins. The set is described by PCGS as: This long, long series stretches from the time when Abe Lincoln was less than 30 years old to the years when Teddy Roosevelt was in power. The set is filled with rarities, but there are no so-called "impossible" coins as are seen in many other series. The classic rarity is the famed 1875. This set involves three distinct types: the No Motto Covered Ear, the No Motto and the With Motto. The "Varieties Set" of this great series is not that different from the Basic Set. Yes, there are a few goodies to add to the Basic Set, but well over 95% of the work and fun are done before you get to the varieties.
In the PCGS Registry, The D.L. Hansen Collection is #1 All-Time and 100% complete. The last discussion on this set was back in April 2022 during a Fairmont Collection-Hendricks update. The Eagle set is creeping closer and closer to having a MS60 GPA with bonuses. As you can see above, the second set in the registry was part of the once famed Bob Simpson Collection assembled by Laura Sperber, Legend Numismatics which retired in May 2011. There are two other notable sets in the registry: The Ellen D set that also retired in 2011, and the Harry Bass that retired in 1999. These and other great sets provide opportunities for Mr. Hansen to build his collection during the past six years.
There are several masterpieces in Hansen’s set including 15-16 coins that I estimate to be six-figure eagles. I would consider the center-piece eagle as the 1839/8 $10 “Type OF 1838” PCGS MS66, Cert #05368072. This seven-figure coin has been in the Hansen Collection about 5-6 years dating back to an early purchase from Barry Stuppler. I must clear the water by the acknowledgement that the Hansen Collection of Liberty Head Eagles is not the finest set currently assembled. The Eagles of The Tyrant Collection is described as "far and away" the finest US Eagle Collection. In a Doug Winter blog, he indicated the set was assembled around 2003/2004. The set consist of both PCGS and NGC coins, so making a direct comparison with Hansen’s PCGS set is time consuming. It is very safe to say that the Tyrant Set has more specimens of best-known examples of US Eagles. Today’s feature coin is a PCGS MS62 sole finest specimen. In comparison, the Eagles of the Tyrant specimen is a PCGS MS61 specimen from #2 Bob Simpson set. In a Tyrant description, the coin is stated as: has a great pedigree, coming from the Hall and Simpson Collections. Therefore, Tyrant does not have all the top eagles.
This coin was produced two years after the end of the US Civil War. In some circles, the moment in time is referred to as Post Civil War Reconstruction Era. The era was the period after the American Civil War from 1865 to 1877, during which the United States struggled with the challenges of reintegrating the southern states which had seceded. All the southern US mints (Charlotte Mint in North Carolina; Dahlonega Mint in Georgia; New Orleans Mint in Louisiana) were closed in 1861. Two were closed permanently and the New Orleans did not reopen to 1879 after reconstruction. Let’s dig a little deeper in this coin.
1867 Liberty Head Eagle, PCGS MS62, Ex: Northern Lights of Vermilion Collection
Expert David Akers describes the coin as: The 1867 is considerably more rare than the 1866 and the difference in rarity is greater than the small difference in mintages might indicate. Actually, it compares favorably in both overall rarity and condition rarity to the 1864 and 1865. Several AU's are known but only the Wolfson coin was ever catalogued as uncirculated. However, it was described as having rubbing in the fields and so it may not have really been a mint state coin.
Now fast forward in the TPG era, the 1867 eagle reports a mintage of 3090. CoinFacts Rarity and Survival Estimate is 65 for all grades, with no specimens grading Choice GEM MS63 or better. NGC population reports shows only four graded mint state, three graded MS61 and a lone MS62. Similar, PCGS has five graded mint state: two MS60, two MS61, and the sole finest PCGS MS62. Several of these nine minted graded specimens could be resubmission. The top Five PCGS coins are:
1 - Hansen / Northern Lights Specimen, PCGS MS62 Cert #37807949 2 – Simpson / Hall Specimen, PCGS MS61 Cert #29583060 Current in the Tyrant Collection. 3 – 2016 ANA Specimen, PCGS MS61 Cert #25625301 4 - Hansen Duplicate Specimen, PCGS MS60 Cert #35368161 5 - Unknown Specimen, PCGS M60
In the Heritage 2022 Long Beach Expo US Coins Signature Auction, the cataloger adds some additional clarity to my research: In the case of the 1867 ten-dollar gold piece, only 3,090 coins were manufactured in circulation-strike format. That was down nearly 18% from the previous year, which coincided with the introduction of the motto IN GOD WE TRUST on the reverse. The 1867 eagle remains an underappreciated rarity despite its enticingly small mintage. Only 90 to 130 examples are believed to exist in circulated grades according to Dave Bowers' A Guidebook of Gold Eagle Coins (2017). There are another four to six pieces believed extant in Mint State. This is the finest among them. The PCGS Population Report shows two submissions in MS60, two more in MS61, and this sole finest representative in MS62, which, as far as we can tell, has not been offered publicly, at least not in this top-notch grade. NGC lists another single MS62 coin that has not been offered for sale at auction (again, as far as we can tell), and it may represent the same coin.
I mention earlier the period in our country called Post Civil War Reconstruction Era. Heritage expanded a little in the coin description: Despite the resolution of the Civil War in 1865, silver and gold remained unseen in the channels of commerce in the East through 1878. The larger gold denominations like the eagle and double eagle were mainly used for business transactions or for export, not regular day-to-day activity, and they continued to trade at a premium to paper currency, which dominated the economy.
As we walked through the rarity of this coin, I hope you got a feel for difficult of this eagle in mint condition. Also, The Hansen Collection already had a couple nice specimens. Previous to this purchase, the Hansen top coin was a PCGS MS60, POP 2/3. The coin that was in his duplicate set was a very nice AU58, POP 7/5. It appears Mr. Hansen desired a better specimen, and he popped a $100K bid on a coin that Heritage describes as: This top-graded 1867 Liberty eagle displays frosty luster around the borders and relief elements that illuminates practically fully struck devices. Alternating shades of lighter and darker orange-gold color each side. Luster is just a bit subdued in the open fields, where scattered marks are present, holding back the grade. Either way, it would be impossible to upgrade this Registry Set essential.
Provenance: The Northern Lights of Vermilion Collection / Long Beach Expo US Coins Signature Auction (Heritage, 10/2022 as PCGS PR64 Deep Cameo), lot #3253, realized $99,000 (Auction Record), The D.L. Hansen Collection.
1867 Liberty Head Eagle, PCGS MS62 PCGS POP 1/0, Sole Finest at PCGS Certification #37807949, PCGS #8651 PCGS Price Guide $65,000 / $99,000 Ex: Northern Lights of Vermilion Collection
Legend Rare Coin Auctions is proud to officially announce the BIGMO CIVIL WAR COLLECTION, a world-class, PCGS Hall of Fame Registry Set. Featuring many of the FINEST coins issued from 1861-1865 in all denominations from the cent to the double eagle, both Mint State and Proof. Part 1 will be offered in the May 2020 Regency Auction. It is an honor to handle this incredible collection! - Market Report, Legend Numismatics (March 2020)
Monty’s “BigMo Sale” brings back fond memories. Doug Winter (December 10, 2020) wrote: Formed by a Nevada specialized collector over the last decade or so, the Big Mo set of Civil War coinage was likely the single finest set of these issues ever assembled. In 2020, I believe this was a true statement by Mr. Winter, but almost two years later, that statement could be easily challenged. The Civil War Collection was dispense over two public auctions that Mr. Winter describes: The non-gold (and certain gold coins) was sold a few months ago and the remaining coins, all gold, were recently auctioned by Legend in their 12/3 Las Vegas sale. The Hansen Collection acquired a considerable number or both gold and non-gold coins. The gold was a very nicely assemble over a long period of time described as more than a decade. Mr. Winter described his experience with the collections as: I am quite familiar with this collection as I sold the collector a number of the coins and also competed against him in various auctions over the years. There were a number of Condition Census pieces and even a few finest-knowns. Each coin was graded by PCGS and a number were stickered by CAC.
In addition to the coins acquired from Doug Winter, I think BigMo acquired a large number of coins from Legend Numismatics and Legend Rare Coin Auctions. In a Legend March 2, 2020, press release: Company founder Laura Sperber picked up the collection personally and could not be more excited to offer this once in a lifetime collection to the collecting public. She had the following to say: “The BigMo Collection is truly one of the greatest individual collections I have ever seen assembled in my experience in this industry. The set is fully deserving of its Hall of Fame status and is the type of set most collectors could only dream of completing. I cannot wait to start showcasing this collection around the country and am ecstatic that Legend Rare Coin Auctions was offered the opportunity to bring this collection to market.”
In the Press Release for Part 1 Sale, Legend listed Specific Highlights from the BigMo Collection include:
10C 1863-S PCGS MS65+ CAC. Pop 1 (Purchase for Hansen Collection)
10C 1864-S PCGS MS66 CAC. Pop 1
25C 1865 PCGS PR67+ DCAM CAC. Pop 1
50C 1862-S PCGS MS66 CAC. Pop 1 (Purchase for Hansen Collection)
50C 1865 PCGS PR67+ DCAM CAC. Pop 1
$1 1861 PCGS PR66 CAC. Pop 1
$1 1862 PCGS PR66+ CAC. Pop 1 (Purchase for Hansen Collection)
$1 1863 PCGS PR67+ CAM CAC. Pop 1
$1 1864 PCGS MS65+ CAC. Pop 1
G$1 1861 PCGS MS67+ CAC. Pop 1 (Purchase for Hansen Collection)
G$1 1865 PCGS MS68+ CAC. Pop 1 (Purchase for Hansen Collection – 9/30/2022)
The Hansen Collection Improved with the ANA Auctions and now after he has picked up several of the BigMo Civil War highlights, he continuities his quest. As we saw a few weeks ago, The Bender Sale help put the Hansen Collection over the top for Seated Liberty Dimes, but you have to believe the BigMo 1863-S PCGS MS65+ CAC helped too. The Hansen Civil War set is a subset of this core 4560-piece US Mint Strike Issues Collection. The 110-piece set represents only approx. 2.5% of this core collection, although this is an important part. Described by PCGS as: This challenging set represents four years of our country's most trying times, the Civil War. It is a sampling of all denominations including some very tough silver issues: the 1861-S and 1864-S Seated quarters and most all the Seated dollars. Many of the gold issues are downright rare including the 1864-S Liberty Head $10. Completing this set will be an accomplishment as well also an historic representation of a difficult war that took place over 150 years ago.
Civil War Set with Gold, Circulation Strikes (1861-1865)
From a standpoint of popularity, there are not many collectors attempting to assemble this set. The Hansen Sets are #1 and #3 in the All-Time Finest with the BigMo Set sandwich in between. Mr. Hansen as continued to improve his Civil War set with upgrades. According to my count, approx. 50 coins has been upgraded since reaching #1 All-Time on 2/2/2020. If you are doing the numbers, that is about half the set! The key indicators in the 110-piece set are:
33 Coins PCGS POP 1/0, Sole Finest, highlighting the amazing 1863 G$1 PCGS MS68, CAC.
26 Coins PCGS Tied for Finest Certified, highlighting the incredible 1861-D $5, PCGS MS63, POP 4/0.
19 Coins PCGS Certified One Finer, highlighting the astonishing 1863 $3 PCGS MS68, POP 1/1.
21 Coins PCGS Condition Conesus Top Five, highlighting the remarkable 1864-S PCGS AU55, POP 1/2
The impressive set is 90.0% PCGS Condition Census, with 53.6% Finest PCGS. The set still have eleven coins that are not condition census which makes prime candidates for upgrading. The lowest grade coin in the set is the 1864-S $10 PCGS XF45, POP 5/9. To be the biggest drag on the set, the coin still has a PCGS Price Guide Value of $150,000!
With only eleven upgrades to go to achieve 100% PCGS Top Five, the Hansen team continues to work hard on the Civil War Set. Not only did Legend provided the 1865 Gold Dollar, PCGS MS68+ that is featured today, but also two Civil War half eagles were purchased from Legend Auctions Regency 54. Laura Sperber and Legend has been a great source for Civil War coinage for the past couple years. Certainly, Mr. Hansen and his collection has capitalized on that opportunity.
WOW! This 1865 is another MONSTER gold dollar – Legend Auctions cataloger (July 2020)
David Akers made comments this coin: Definitely one of the rarer dates in the series after 1861, although not nearly as scarce as the higher mintage 1863. As one can tell from the average grade of AU-52 and the auction records, the 1865 generally is available in high grade. (The majority of specimens that I have seen have either been Unc. or proof.) The 1865 gold dollar was also restruck, probably sometime after 1872, Like the similar $3 gold piece (J-440), the date slants up to the right whereas on the original 1865, the date is low and level. Supposedly two examples of this restrike are known, although I am unaware of their present location.
PCGS CoinFacts gives the survival estimate to be 80 in all grades. Oddly enough, PCGS has not graded very many specimens below the AU50 grade and 21 GEM MS65 or better. There are only two PCGS coins graded finer than a MS67. They are the MS68 from the Bob R. Simpson Collection and the sole finest MS68+ from the BigMo Collection that is now located in the D.L. Hansen Collection.
The provenance of the coin before the BigMo Collection is not known to me. The Legend cataloger states: This coin has never traded via auction. Assuming this is correct, the coin may not have a history. If it does, please let me know. Legend provides a few interesting facts including some I gave you earlier: This 1865 is another MONSTER gold dollar, entirely equal to the 1864 and is the FINEST KNOWN example of this date; finer than the Bob Simpson coin (PCGS MS68) and the extensively pedigreed Duckor Collection coin (PCGS MS66). Of the original mintage of 3,725, there are perhaps 80 examples that survive, according to PCGS CoinFacts estimates.
As most cases, Legend described the coin as phenomenal: This incredibly preserved SUPERB GEM has an intense mint luster that glows brilliantly from all over, and the fields on the obverse shows light, semi-Prooflike reflection. Both sides show a heart-pounding original blend of reddish orange, flaming gold toning. There are no spots or serious moarks of any kind, indeed, other than a thin line under the first L in DOLLAR, there is nothing but mint created marks on the fields anywhere. This coin is an awesome study in die states. The obverse had been heavily polished prior to use, creating striations in the die. Shortly after, the dies clashed, imposing reverse elements on the obverse, and vice-versa, there is also an internal cud in first L in DOLLAR. Sharply struck up devices, which have a very thick frosty texture, which stand out against the fields, imparting a near-cameo like appearance on the obverse. The eye appeal is phenomenal!
In this sale just over two years ago, Legend placed the value of the coins as: The current Collectors Universe Value is $65,000. Maybe, as in the case of the MS68+ CAC 1864, it had last sold for $70,500 back in 2015. Both coins are more than worthy of strong, six figure prices! The coin was passed. We can assume that either the collector retained the coin, or it has been in Legend’s inventory or someone else’s. I am not 100% sure and I did not ask John Brush to confirm, but it appear the coin can into the Hansen Collection through David Lawrence Rare Coin. The value of this coin has exploded since the auction of 2020. PCGS currently values the coin at $135,000. That is more than 100% price increase in two years. Did he get a good price on the coin? I don’t know. It was certainly not a must have coin, because he passed on the coin in 2020, and he has a very nice MS67 POP 3/2 that will go into his duplicate set. The coin makes for an interesting upgrade.
Provenance: BigMo” Collection; The Regency Auction 39 (Legend, 7/2020), Lot #92, Passed; Purchased by David Lawrence Race Coins in private transaction (9/2022) for The D.L. Hansen Collection.
Legend Rare Coin Auctions is proud to officially announce the BIGMO CIVIL WAR COLLECTION, a world-class, PCGS Hall of Fame Registry Set. Featuring many of the FINEST coins issued from 1861-1865 in all denominations from the cent to the double eagle, both Mint State and Proof. Part 1 will be offered in the May 2020 Regency Auction. It is an honor to handle this incredible collection! - Market Report, Legend Numismatics (March 2020)
Monty’s “BigMo Sale” brings back fond memories. Doug Winter (December 10, 2020) wrote: Formed by a Nevada specialized collector over the last decade or so, the Big Mo set of Civil War coinage was likely the single finest set of these issues ever assembled. In 2020, I believe this was a true statement by Mr. Winter, but almost two years later, that statement could be easily challenged. The Civil War Collection was dispense over two public auctions that Mr. Winter describes: The non-gold (and certain gold coins) was sold a few months ago and the remaining coins, all gold, were recently auctioned by Legend in their 12/3 Las Vegas sale. The Hansen Collection acquired a considerable number or both gold and non-gold coins. The gold was a very nicely assemble over a long period of time described as more than a decade. Mr. Winter described his experience with the collections as: I am quite familiar with this collection as I sold the collector a number of the coins and also competed against him in various auctions over the years. There were a number of Condition Census pieces and even a few finest-knowns. Each coin was graded by PCGS and a number were stickered by CAC.
In addition to the coins acquired from Doug Winter, I think BigMo acquired a large number of coins from Legend Numismatics and Legend Rare Coin Auctions. In a Legend March 2, 2020, press release: Company founder Laura Sperber picked up the collection personally and could not be more excited to offer this once in a lifetime collection to the collecting public. She had the following to say: “The BigMo Collection is truly one of the greatest individual collections I have ever seen assembled in my experience in this industry. The set is fully deserving of its Hall of Fame status and is the type of set most collectors could only dream of completing. I cannot wait to start showcasing this collection around the country and am ecstatic that Legend Rare Coin Auctions was offered the opportunity to bring this collection to market.”
In the Press Release for Part 1 Sale, Legend listed Specific Highlights from the BigMo Collection include:
10C 1863-S PCGS MS65+ CAC. Pop 1 (Purchase for Hansen Collection)
10C 1864-S PCGS MS66 CAC. Pop 1
25C 1865 PCGS PR67+ DCAM CAC. Pop 1
50C 1862-S PCGS MS66 CAC. Pop 1 (Purchase for Hansen Collection)
50C 1865 PCGS PR67+ DCAM CAC. Pop 1
$1 1861 PCGS PR66 CAC. Pop 1
$1 1862 PCGS PR66+ CAC. Pop 1 (Purchase for Hansen Collection)
$1 1863 PCGS PR67+ CAM CAC. Pop 1
$1 1864 PCGS MS65+ CAC. Pop 1
G$1 1861 PCGS MS67+ CAC. Pop 1 (Purchase for Hansen Collection)
G$1 1865 PCGS MS68+ CAC. Pop 1 (Purchase for Hansen Collection – 9/30/2022)
The Hansen Collection Improved with the ANA Auctions and now after he has picked up several of the BigMo Civil War highlights, he continuities his quest. As we saw a few weeks ago, The Bender Sale help put the Hansen Collection over the top for Seated Liberty Dimes, but you have to believe the BigMo 1863-S PCGS MS65+ CAC helped too. The Hansen Civil War set is a subset of this core 4560-piece US Mint Strike Issues Collection. The 110-piece set represents only approx. 2.5% of this core collection, although this is an important part. Described by PCGS as: This challenging set represents four years of our country's most trying times, the Civil War. It is a sampling of all denominations including some very tough silver issues: the 1861-S and 1864-S Seated quarters and most all the Seated dollars. Many of the gold issues are downright rare including the 1864-S Liberty Head $10. Completing this set will be an accomplishment as well also an historic representation of a difficult war that took place over 150 years ago.
Civil War Set with Gold, Circulation Strikes (1861-1865)
From a standpoint of popularity, there are not many collectors attempting to assemble this set. The Hansen Sets are #1 and #3 in the All-Time Finest with the BigMo Set sandwich in between. Mr. Hansen as continued to improve his Civil War set with upgrades. According to my count, approx. 50 coins has been upgraded since reaching #1 All-Time on 2/2/2020. If you are doing the numbers, that is about half the set! The key indicators in the 110-piece set are:
33 Coins PCGS POP 1/0, Sole Finest, highlighting the amazing 1863 G$1 PCGS MS68, CAC.
26 Coins PCGS Tied for Finest Certified, highlighting the incredible 1861-D $5, PCGS MS63, POP 4/0.
19 Coins PCGS Certified One Finer, highlighting the astonishing 1863 $3 PCGS MS68, POP 1/1.
21 Coins PCGS Condition Conesus Top Five, highlighting the remarkable 1864-S PCGS AU55, POP 1/2
The impressive set is 90.0% PCGS Condition Census, with 53.6% Finest PCGS. The set still have eleven coins that are not condition census which makes prime candidates for upgrading. The lowest grade coin in the set is the 1864-S $10 PCGS XF45, POP 5/9. To be the biggest drag on the set, the coin still has a PCGS Price Guide Value of $150,000!
With only eleven upgrades to go to achieve 100% PCGS Top Five, the Hansen team continues to work hard on the Civil War Set. Not only did Legend provided the 1865 Gold Dollar, PCGS MS68+ that is featured today, but also two Civil War half eagles were purchased from Legend Auctions Regency 54. Laura Sperber and Legend has been a great source for Civil War coinage for the past couple years. Certainly, Mr. Hansen and his collection has capitalized on that opportunity.
WOW! This 1865 is another MONSTER gold dollar – Legend Auctions cataloger (July 2020)
David Akers made comments this coin: Definitely one of the rarer dates in the series after 1861, although not nearly as scarce as the higher mintage 1863. As one can tell from the average grade of AU-52 and the auction records, the 1865 generally is available in high grade. (The majority of specimens that I have seen have either been Unc. or proof.) The 1865 gold dollar was also restruck, probably sometime after 1872, Like the similar $3 gold piece (J-440), the date slants up to the right whereas on the original 1865, the date is low and level. Supposedly two examples of this restrike are known, although I am unaware of their present location.
PCGS CoinFacts gives the survival estimate to be 80 in all grades. Oddly enough, PCGS has not graded very many specimens below the AU50 grade and 21 GEM MS65 or better. There are only two PCGS coins graded finer than a MS67. They are the MS68 from the Bob R. Simpson Collection and the sole finest MS68+ from the BigMo Collection that is now located in the D.L. Hansen Collection.
The provenance of the coin before the BigMo Collection is not known to me. The Legend cataloger states: This coin has never traded via auction. Assuming this is correct, the coin may not have a history. If it does, please let me know. Legend provides a few interesting facts including some I gave you earlier: This 1865 is another MONSTER gold dollar, entirely equal to the 1864 and is the FINEST KNOWN example of this date; finer than the Bob Simpson coin (PCGS MS68) and the extensively pedigreed Duckor Collection coin (PCGS MS66). Of the original mintage of 3,725, there are perhaps 80 examples that survive, according to PCGS CoinFacts estimates.
As most cases, Legend described the coin as phenomenal: This incredibly preserved SUPERB GEM has an intense mint luster that glows brilliantly from all over, and the fields on the obverse shows light, semi-Prooflike reflection. Both sides show a heart-pounding original blend of reddish orange, flaming gold toning. There are no spots or serious moarks of any kind, indeed, other than a thin line under the first L in DOLLAR, there is nothing but mint created marks on the fields anywhere. This coin is an awesome study in die states. The obverse had been heavily polished prior to use, creating striations in the die. Shortly after, the dies clashed, imposing reverse elements on the obverse, and vice-versa, there is also an internal cud in first L in DOLLAR. Sharply struck up devices, which have a very thick frosty texture, which stand out against the fields, imparting a near-cameo like appearance on the obverse. The eye appeal is phenomenal!
In this sale just over two years ago, Legend placed the value of the coins as: The current Collectors Universe Value is $65,000. Maybe, as in the case of the MS68+ CAC 1864, it had last sold for $70,500 back in 2015. Both coins are more than worthy of strong, six figure prices! The coin was passed. We can assume that either the collector retained the coin, or it has been in Legend’s inventory or someone else’s. I am not 100% sure and I did not ask John Brush to confirm, but it appear the coin can into the Hansen Collection through David Lawrence Rare Coin. The value of this coin has exploded since the auction of 2020. PCGS currently values the coin at $135,000. That is more than 100% price increase in two years. Did he get a good price on the coin? I don’t know. It was certainly not a must have coin, because he passed on the coin in 2020, and he has a very nice MS67 POP 3/2 that will go into his duplicate set. The coin makes for an interesting upgrade.
Provenance: BigMo” Collection; The Regency Auction 39 (Legend, 7/2020), Lot #92, Passed; Purchased by David Lawrence Race Coins in private transaction (9/2022) for The D.L. Hansen Collection.
I'm sorry but (IMHO) even at 68+ it's just not a good-looking coin.
Beauty is in the eye of the beholder. I bet the coin outstanding in hand!
I was referring to the series. Again, just my opinion but the design is uninspired, the fields are of too much acreage and the strike is typically weak. The Barber dime of gold coins…
Steven L. Contursi - Rare Coin Wholesalers (1 of 4)
Due to our firm’s private placement of billions of dollars of U.S. rare coins, we hold a unique market position as we are a trusted resource for many dealers and high-end collectors who are searching for the ultra-rare U.S. coins. These relationships have been very beneficial to our firm over the years, and we have developed many great friendships. – Our Story, RCW website
Rare Coin Wholesalers has been and still is a major source for the D.L. Hansen Collection of US Coinage. It is common knowledge that Barry Stuppler was Hansen’s original dealer in 2016 which was Hansen’s first year. As business relationships come and go with many dealers, it appears that Rare Coin Wholesalers have been consistent for the entire life of the Hansen collection, so far. There could be many reasons, but in reading the company’s model biography, it very well could be the importance of relationships and friendships. The Hansen and Constursi relationship appear to have started in the summer of 2016 with the sale of the MCMVII (1907) Proof Ultra High Relief double eagle. On their company timeline, they state, “America’s most beautiful coin”, the finest known and highest graded 1907 “Ultra” High Relief Saint Gauden was purchased in 2012. Four years later, Michael Contursi sold the coin to a new collector for reported more than three million dollars. His father, who world renowned numismatist Steven Contursi is the founder and CEO of Rare Coin Wholesalers.
Who would have known that in the summer of 2016 that Dell Loy Hansen, a new collector was on a mission to assemble one of the most amazing collections of all-times? The coin that was purchased in that private transaction in 2016 still remains the center piece of the Hansen Collection. PCGS currently values the coin at $5,000,000. That price should be tested in the upcoming months. D.L. Hansen owns the PR69 Extremely High Relief Lettered Edge. The sister lady is the Extremely High Relief Inverted Edge Letters that was recently graded PR69 by PCGS. This coin will be offered by public auction in August 2023. Will it reach the $5,000,000 mark, or break through and go much higher? Let’s watch and see what happens.
The 2022 ANA Auctions and the Bass Part 1 Sale were big events for Hansen and his team. I have been watching to see if he takes a break before the FUN Sales that will occur in January 2023. Well, it appear he did not take a break. There are hundreds of coins that comes into collection that I don’t mention. If the coin is not six figures or significant in some way, I don’t feature the coin. I have been tracking these private transactions since the Bass Sale. Excluding David Lawrence Rare Coins, the largest source for upgrades may have been Rare Coin Wholesalers. I don’t think this is new, rather it have been consistent since the beginning of the collection in 2016.
Rare Coin Wholesalers seen to be a good fit for providing needed coins to the Hansen Collection. They advertised on their website as: Our firm is a multi-generational family business that handles the most elite and sought-after treasures in the United States rare coin market. We specialize in museum quality trophies and maintain the largest active inventory in the world. They do have one of the best inventory of coins that Hansen could use for upgrades. The statement of being “museum quality trophies” is an interesting comment. If so, then Hansen is acquiring a large number of them. Case in point, the Hansen Team purchased a 1903 Half Eagle PR67+ CAM. The coin is a PCGS POP 2/0, and certainly a great upgrade to the collection. To confirm the “museum quality trophies” specimen, it is from the “Important Selections from The Bob R. Simpson Collection, Part I” sale.
1903 Liberty Half Eagle, PR67+CAM, Ex: Bob Simpson
Elusive Cameo Specimen, Tied for Finest at PCGS
The Heritage cataloger described the US Mint output as: Production of proof Liberty half eagles dropped slightly in 1903, to 154 pieces, but the business-strike mintage was a robust 266,870 specimens, so there was never any date pressure on the issue. The proofs were delivered in the usual quarterly batches of 62, 19, 9, and 64 examples. A single die pair was used to strike all the proofs, with strong die polish in the lower parts of the clear spaces in the shield and a polished area around WE in the scroll. John Dannreuther estimates the surviving population at 90-110 examples in all grades.
This is not particular rare proof. The mintage is given as 154. CoinFacts estimates approx. 110 coins survived with about 20 GEM or better. PCGS has certified 17 GEM in the recent population report, with eight carrying the cameo finish. There are four PCGS PR67 certified, with two carrying the +. One of the finest is now in the Hansen Collection and the other is credited to the Cherry Blossom Collection.
In the Heritage - Simpson sale, the cataloger describe the coin as: This magnificent Plus-graded Superb Gem exhibits razor-sharp definition on all design elements, with intricate detail on Liberty's hair and the star centers. The rich yellow-gold surfaces are impeccably preserved and the deeply mirrored fields contrast boldly with the frosty devices. The field/device contrast is even more noticeable on the reverse. Overall eye appeal is terrific.
There is a good reason for not having any coins graded with a DCAM finish. Heritage offered: The Mint revised its method of proof coin production in 1902, changing from an ideal coinage showing deeply mirrored fields and thickly frosted, contrasting devices to a format with little to no contrast, one that Walter Breen memorably calls "semi-brilliant." Any mint frost remaining on the devices was the result of happenstance rather than planning. Only the first few coins struck with the dies retained any semblance of cameo contrast. PCGS has certified a total of 64 proof 1903 half eagles, but only nine coins have earned a Cameo designation, and no Deep Cameo PCGS specimens have been graded (5/20).
At the end of the day, there are two top coins stands on top of this production. The Hansen coin is one of them and is described as: This magnificent Plus-graded Superb Gem exhibits razor-sharp definition on all design elements, with intricate detail on Liberty's hair and the star centers. The rich yellow-gold surfaces are impeccably preserved and the deeply mirrored fields contrast boldly with the frosty devices. The field/device contrast is even more noticeable on the reverse. Overall eye appeal is terrific.
This magnificent specimen replaces a very nice GEM Proof. The coin that was in the Hansen Collection was a PR65+ PCGS, POP 1/10. The collection should be able to rest easy now with a tied for finest known PCGS Top Five specimen.
Provenance: Ex: US Coins Signature Auction, Long Beach (Heritage, 9/2012 as PR67 Cameo PCGS), lot 4960, realized $70,500; Important Selections from The Bob R. Simpson Collection, Part I (Heritage 9/2020 as PR67+ Cameo PCGS), lot 10141, realized $55,200; Purchase in Private Transaction from Rare Coin Wholesalers (Listed 9/2022), D.L. Hansen Collection.
1903 Liberty Half Eagle, PR67+CAM PCGS POP 2/0 Certification #40542337, PCGS #88498 PCGS Price Guide $105,000 / Ask $109,500 Ex: Bob Simpson
Steven L. Contursi - Rare Coin Wholesalers (2 of 4)
By far the largest sole source for coins coming into the Hansen Collection is David Lawrence Rare Coins. I have not fully analyzed the impact at this time, but it appears with the exception of DLRC, Steven L. Contursi and Rare Coin Wholesalers may be the next largest private supplier. If not by volume, then certainly by value. I shared a couple days ago that RCW sold the multi-million dollar 1907 “Ultra” High Relief Saint Gauden to D.L. Hansen in 2016. It appears his loyalty to this company has continued non-stop to today. Since the ANA Auctions a couple months ago, I have tracked 17 coins purchased from RCW.
Being a seven-year reliable customer that D.L. Hansen has been, I doubt he pays internet ask prices. Which leaves us with the only way we can analyzed these private transactions are with PCGS Price Guide Values. So, looking at 17 coins that I have identified purchased in September and October timeframe, value range is from $8,500 to $210,000. The total PCGS value is $863,500. The result is average per coin of approx. $50,000. Now to be mind-blowing. If you plot this value for 72 months from mid-2016 to end of October 2022, the result is $32,000,000. This is just for fun, because two months is not a large enough sample set. But the point is that adding to a collection over a long period of time (in this case 72 months) can build incredible value. In addition, this is from one sole source. Just think about all the other sources that this collection is buying from on a monthly basis. This was fun exercise with no claim to accuracy, but I think it can be said that D.L. Hansen is a pretty good customer of Steven Contursi and Rare Coin Wholesalers.
I share this little crazy exercise to make point that the large and attention-grabbing auctions are certainly important, but this collection is not just waiting for auctions to buy. It is a daily churn. This daily, weekly, monthly, yearly, and continuing upgrading creates the bulk of this collection. A few years ago, it was publicly communicated the collection comprised 12,000 PCGS certified coins. I think the collection has grown larger since that announcement.
1865 Three Dollar Proof, PR65CAM, CAC, Ex: Chinook Collection
Only 12 to 14 Pieces Known
David Akers writes on this rarity: Proofs are very rare, with perhaps only 10 to 12 out of the original 25 minted still in existence. A very interesting restrike of this date also exists. It is listed in Dr. Judd's book as J-440, and in Adams and Woodin's book as AW-480. It was struck using the obverse die of 1872 and was probably minted sometime in 1873. Only two pieces are known; one of them is in the Wilkinson Collection and the other appeared in the Farouk Sale in 1954. The restrike is easily distinguishable from the regular issue proofs by the fact that the date slants noticeably up to the right and the first three digits of the date are very weak, while the 5 is sharp and bold.
All specimens of 1865 Three Dollar Proofs are rare. The D.L. Hansen Collection already had a low-grade specimen, PCGS PR61. This POP 2/13 coin was purchased in 2018 timeframe. The new PR65CAM specimen last appeared in a 1/2020 Heritage Auction. The rarity was described as: JD-1 represents the original proof dies of 1865, used to strike 25 coins in March of that year. The date is centered below DOLLAR, with the upright of the 1 below the left base of the first L. Two restrikes (circa 1869-1870) exist from different dies, showing the date further left with an upward cant to the right. John Dannreuther estimates that only 12 to 14 original proofs survive. Duplication is likely represented in the 21 coins reported by NGC and PCGS. We have previously handled a proof 1865 three dollar gold piece on only four occasions. Two of those appearances were more than two decades ago. The other two were in the recent FUN Signature (Heritage, 1/2019), lots 4640 and 4641. One of those coins was a JD-1 Original, graded PR60 NGC, the other a JD-2 Restrike, graded PR61 NGC. This Gem Cameo Original surpasses them both by leaps and bounds in terms of quality.
This coin is a very solid PCGS Top Five (6) coin. They coins are:
Heritage (7/2022) describe the coin condition as: Bright yellow-gold surfaces yield sharp, frosty design elements and liquidlike glimmering fields. There is some mint-made planchet roughness near the U in UNITED, but there are no post-mint imperfections. There are a couple of interesting pedigree identifiers, a product of strike-throughs in the mint. One is a sideways S lintmark through the first S in STATES, and the other is a tiny upside-down V strike-through above the first A in AMERICA. Contrast is strong and well-balanced from side to side. This is one of the landmark rarities in this year's FUN Signature Auction, and it represents a seldom-offered opportunity to acquire a high-end example of this rarity.
In an interesting turn of events, the Hansen Team decided not to wait to bid on the Bender or Bass Specimens. Although, the Bass specimen is a restrike example and still may be in play. I am not sure if the restrike coin fits into the Hansen plan for his core collection. It is required in the 39-piece Three Dollar Proof Gold set. We will have to wait and watch.
Provenance: The Chinook Collection / Central States (CSNS) US Coins Signature Auction (Heritage 4/2019 as PR65 Cameo NGC), lot 3853, realized $48,000; FUN US Coins Signature Auction (Heritage 1/2020 as PR65 Cameo PCGS), lot 4384, realized $55,200; Purchase in Private Transaction from Rare Coin Wholesalers (Listed 9/2022), D.L. Hansen Collection.
1865 Three Dollar Proof, PR65CAM PCGS POP 3/2, CAC Approved Certification #43783381, PCGS #88028 PCGS Price Guide $82,500 Ask $98,500 Ex: Chinook Collection
Steven L. Contursi - Rare Coin Wholesalers (3 of 4)
About once per year, The Hansen Collection upgrades a coin in the Capped Bust $2-1/2 Gold Basic, (1808-1834) Circulation Strikes set. Two years ago, we saw D.L. Hansen acquire a spectacular prooflike 1831 from the Bob Simpson Collection. Last year, he upgraded the 1832 Capped Bust Quarter Eagle with a very nice MS65. A complete collection of Early Quarter Eagles from 1796 to 1839 is only 31 coins. I sometimes focus on the heart of this 31-piece Early Quarter Eagles with “Cap Bust Series”. This 12-piece series runs from 1808 to 1834. The run consists of three types, starting with the one year only type, Large Bust. According to John W. Dannreuther: This date/variety/type has been popular for as long as there have been collectors of US coins. The quarter eagles did not reappear until 1821 with a new designed, Large Dentils Type. The mint produced coins for only five years between 1821 -1827. There were no quarter eagles minted with dates 1822 and 1823. After a one-year break in 1828, the third type, Small Dentils was produced from 1829 to 1834. Coins were produced in each of the six years. `
There is a PCGS Registry set that represents this 12-piece gold collection, Capped Bust $2-1/2 Gold Basic Set, Circulation Strikes (1808-1834). Only four sets represent the PCGS All-Time Finest Registry, and two sets are current. The Harry Bass Collection is not represented because a couple of his coins were proofs. Brett Pogue had some great quarter eagles, but I believe his quarter eagle set was incomplete. Per the registry list, it appears, the Pogue group had an amazing GPA of 62.78 with two coins missing, 1832 and 1834 Capped Bust in mint state. I can see why the 1834 was missing, because there are no mint state specimens. That leave these four collectors to represent the series.
The D.L. Hansen Collection leads the way with the top set. I have to say that Tony’s earlyAurum set has started a slow decline since my last update on the series. He has sold off three coins in 2022 and have reduce to only six coins. The set still has an outstanding GPA of 61.61. I had once thought the earlyAurum could one day be the #1 All-Time Registry set. Now, I am not sure what Tony’s goals and plans are for the set.
With this new Hansen upgrade, the strength of the early quarter eagle collection continues to be in the type three, Small Dentils portion of the set. You may recall on April 4, 2019, I reported a new upgraded, 1830 Quarter Eagle MS66, PCGS POP 1/0. The coin was valued at $195,000 and was purchased in a private transaction from David Lawrence Rare Coins. Then last fall, Mr. Hansen purchased a quarter eagle out of the Bob Simpson Collection. The 1831 MS66+ Prooflike PCGS coin was purchased in 2021 for $240,000. Now, we see Mr. Hansen replaces his 1834 XF 45 Capped Bust Quarter Eagle, POP 1/10 with the new AU55 specimen from Rare Coins Wholesalers.
One of the rarest coins in the series ... The present coin appears to either be an impaired Proof or an impaired prooflike Uncirculated example with the overall sharpness an characteristics of the AU grade. Prooflike surface abounds, including in a generous area within the shield stripes. A classic American rarity, the 1834 with-motto is deserving of much more fame than it has received in the past. It is several times rarer than any other quarter eagle of its era - Fairfield Collection presented by Bowers and Ruddy Galleries (10/1997)
Expert David Akers describe the coins as: The mintage for the 1834 With Motto quarter eagle is similar to the mintages for the other five dates of this type. However, the Mint Act of June 28, 1834 significantly reduced the gold content for quarter eagles and half eagles and, therefore, it is probable that the vast majority of the 4,000 minted were melted and never released. This is definitely one of the half dozen or so rarest quarter eagles, and, as is apparent from the auction data, specimens are offered for sale only once every few years. I have never seen a fully mint state piece. The total number known is difficult to say for sure, but I would estimate it to be on the order of 12 to 15 pieces.
Mr. Hansen purchased this coin from Rare Coin Wholesalers to replace his 1834 XF 45 Capped Bust Quarter Eagle, POP 1/10. Purchased in the 2017 timeframe, this coin has played a long-time role in the collection. The Fairfield / Goldman AU55 prooflike specimen is a nice upgrade. Just outside of PCGS Top Five, the coin is not one easily found. Heritage (7/2022) describe the rarity as: The 1834 With Motto is the rarest early quarter eagle in the series. While the issue has often existed somewhat in the shadow of other popular quarter eagles such as the 1796 No Stars, the 1841 Little Princess, the 1848 CAL., the rare 1854-S, and the proof-only 1863, times seem to be changing. In January 2019, an AU53 NGC example brought $138,001 in Heritage's FUN Signature sale as lot 4617, which is by far the current record price for an 1834 Capped Bust quarter eagle. All of which bodes well for the present coin that is one notch better on the grading scale, a Choice About Uncirculated coin certified AU55 PCGS.
The Heritage catalog shared some thoughts behind the rarity: All extant 1834 quarter eagles with the motto "E. PLURIBUS UNUM" above the eagle are standout rarities in the U.S. gold series. They were famously struck just before Congress officially changed the weight and fineness of gold coins in June of that year. Virtually the entire 4,000-piece mintage remained in possession of the Chief Coiner and, with a few exceptions, those coins were never distributed. Rather, nearly all 1834 Capped Bust quarter eagles went straight to the melting pot. Any pieces that escaped into public hands were worth some 6.4% above face value (an immediate profit of about 16 cents per coin) -- reason enough for the Mint to make the Capped Bust type obsolete, replaced by the lighter weight Classic Head series with no reverse motto.
In the 2022 sale, Heritage did not use the word prooflike in their description: The fields are indeed reflective throughout both sides of this Choice AU specimen. The strike is sharp overall, although slightly weak at the centers where a few faint adjustment marks angle across the eagle's shield. Vibrant orange-gold color features lilac highlights on Liberty's portrait. Light field abrasions confirm a short stint in circulation. A pair of tiny digs above the top olive leaves serve as a useful pedigree marker when viewing the coin under magnification. Although, in a historical account, the cataloger writes: Heritage has handled this exact example once before as the finest of three 1834 With Motto quarter eagles consigned by the Diocese of Buffalo -- an amazing accumulation, probably never to be duplicated, from an anonymous benefactor who donated his immense collection to the Diocese. The most recent appearance we can document for this coin was in a 2004 ANR auction, almost 18 years ago. We anticipate a bevy of strong bids when this mostly prooflike, sharp, and attractive 1834 With Motto two-and-a-half dollar gold is called.
At this point in time, it appears that Steven L. Contursi, his son and team at Rare Coin Wholesalers have access to an unlimited number of coins that are great opportunities to improve this D.L. Hansen Collection. We will continue to watch as see if the Mr. Hansen stays on course for using this company as a source for his collection.
Provenance: Arthur Lamborn; The Fairfield Collection (Bowers and Ruddy, 10/1997), lot 1461; Auction '80 (Paramount, 8/1980), lot 242 (color plate); The Dr., Byron C. Pevehouse & Lester Gann Davis Collections (American Numismatic Rarities, 10/2004), lot 698; The Allan H. Goldman Collection / Long Beach Expo/Summer FUN US Coins Signature Auction (Heritage 7/2022 as AU55 PCGS Cert # 06550535), lot 3207, realized $144,000; Purchase in Private Transaction from Rare Coin Wholesalers (Listed 9/2022), D.L. Hansen Collection.
Steven L. Contursi - Rare Coin Wholesalers (4 of 4)
The final Rare Coin update is a true expansion coin in the early Seated Liberty Half Dime Proof set. The early sets are extreme difficult to assemble with proof finish. For example, the Liberty Seated Half Dimes, Proof (1837-1857) set is described as: This extremely challenging 22-coin date set is filled with rarities and distinctive type coins. The 1837 No Stars is a classic that many consider to be an artistic masterpiece as well as a numismatic treasure. Additional types in this series are the With Drapery and Arrows at Date pieces. The Proofs struck in 1854 and later are more readily available but are still considered to be quite rare.
A couple points to make on the D.L. Hansen Collection. First, the 1837 artistic masterpiece is certainly a show coin. The Ex: Pittman / Kaufman specimen is approved for the CAC sticker. PCGS graded PR66 specimen has been described as "a coin with a beautiful blue, red, and gold patina". The Hansen Team purchased the coin in 2017 from The D. Brent Pogue Collection, Part V sale. There is only one coin finer than the Hansen POP 1/1 coin which is the Eugene H. Gardner PR67 specimen. This coin makes for a very nice start to the 22-piece set.
Second, the PCGS proof set required three No Drapery half dime coins. These coins continue with the theme of set difficultly. Starting with the 1840 No Drapery PR65 Proof, the first ND Hansen purchased of this type. The 1840 specimen was acquired in early 2017 in a private transaction from Aspen Park. By a CoinFact image, the coin is also from the Phil Kaufman Collection. It was last sold in a Heritage 2014 Auction from the Greensboro Collection. The Hansen coin is one of two finest specimens, with only five or six examples are known, including three other Gems. The second finest specimen is from the John Jay Pittman Collection. With the recent purchase of the 1839 from Rare Coins Wholesalers, the Hansen set now have two of the three No Drapery proof half dimes.
As can be seen, there is only six PCGS specimens certified for all No Drapery Proofs. The missing No Drapery coin in the Hasen Collection is the 1838. There may be three distinct specimens known. Along with the 1838 No Drapery, the22-piece set is missing three other coins. The four missing coins are listed below:
1838 No Drapery - Three Distinct Specimens Known, Finest Pittman PR67 PCGS
1840 - Possible 4 known, Finest PR65 PCGS
1851 - Possible 2-3 Known, None Currently PCGS Certified
1852 - Est. 5-10 known, Finest Benson Collection PR66 PCGS
The 1851 coin may be the most questionable of the four. I do think obtaining a PCGS gradable specimen is possible. In the 35 years of PCGS grading, there has been one in a PCGS holder. The John Jay Pittman specimen was at one time certified PR64 PCGS. The Louis E. Eliasberg, Sr. PR66 may be a PCGS certifiable candidate, but has not been crossed. We will have to watch and see if the Hansen Team will be able to place a 1851 specimen in this set at some point in the future.
The Hansen early proof sets in both silver and gold are the most interesting to watch as this Collection continues down a path of growth. They are very challenging, but at the same time most awarding. Everyone understands and accepts that completing all these sets are truly impossible. There is a good chance we may see one or two of these difficult sets completed, and the Seated Liberty half dimes may be one of the sets. J.J. Pittman’s half dime proof set was 86.36% (Gardner or Kaufman better??) and the Hansen set is 81.82% with opportunity to get better. It will fun to watch.
1839 No Drapery Half Dimes, PR64
Only Five Proofs Known
Eugene H. Gardner was a Hall of Fame Collector. In a PCGS Bio, his collection was described as: Eugene Gardner was an aggressive collector of U.S. silver coins, with a particular emphasis on the Seated Liberty series. Heritage sold his collection of more than 3,000 coins in four separate auctions in 2014 and 2015, setting many records along the way. The total prices realized for his four auction was an astounding $52.8 million. Most of Gene’s coins were among the finest of their type and many were, indeed, the very best. He was a student of the different series he collected and, in an unusual move, Heritage integrated his personal notes into the catalog description of each coin. Sadly, Gene passed away on July 16, 2016, but not before he was able to oversee the orderly disposal of his beloved coins. He will be long remembered for his eye for quality, his willingness to “stretch” for the right coins, for his accomplishments as a collector, and, of course, for the incredible collection he built.
As mentioned in his bio, the emphases Mr. Gardner’s passion was placed on his Seated Liberty series. Heritage wrote in a 2015 description: An extreme rarity in proof format and among the most important coins in the entire Gardner Collection, this 1839 No Drapery half dime is one of only a handful of survivors
Roster of 1839 No Drapery Half Dimes (Heritage 2015)
1 - Gardner Specimen, PR65 Cameo PCGS. Rarities Night (Stack's Bowers, 11/2012), lot 3068, realized $55,813; The Eugene H. Gardner Collection III US Coins Signature Auction (Heritage 5/2015), lot 98189, realized $39,950.
2 - Kaufman / Greenboro Specimen, PR65 Cameo NGC. The Phil Kaufman coin, which appears different from any others here. It may be the April 1964 Stack's piece, lot 1011, although the quality of the plate precludes a definite match. Phil Kaufman Collection (Heritage, 4/2008), lot 2373; Greensboro Collection Part VI / New York Signature (Heritage, 2/2014), lot 5076, realized $32,900; E.B. Strickland Collection / FUN US Coins Signature Auction (Heritage 1/2018), lot 4798, lot $24,000.
3 - Menjo / Pittman / Richmond Specimen, PR65 NGC. Adolphe Menjou Sale (Numismatic Gallery, 6/1950), lot 108; John Jay Pittman (David Akers, 10/1997), lot 457, realized $12,100; Long Beach Connoisseur Collection (Bowers and Merena, 8/1999), lot 84, realized $29,900; Richmond Collection (David Lawrence, 3/2005), lot 1081, realized $33,500 .
4 - Mory Specimen, PR64 NGC. Paul S. Mory, Sr. Collection (Bowers and Merena, 6/2000), lot 423, realized $24,150; Ira and Larry Goldberg (5/2001), lot 472, realized $24,150. (Note: The Bowers and Merena cataloger states that this specimen resided for over a century in a collection formed by an attorney in Vicksburg, Mississippi, in the late 1800s).
5. - Lohr Specimen, Brilliant Proof. Major Lenox R. Lohr Collection (Stack's, 10/1956), lot 254; Stack's (1/1991), lot 40; Stack's (10/2002), lot 1155.
?? - Hansen Specimen, PR64 PCGS. Purchase in Private Transaction from Rare Coin Wholesalers, D.L. Hansen Collection. (Possible same as #4 or #5 above).
Additional appearances (Heritage 2015):
A. David Bullowa, May 1952.
B. Lester Merkin (4/1966), lot 71.
C. 1971 ANA (Stack's), lot 617.
In summary, there are only two 1839 graded by PCGS, the Gardner PR65 Cameo specimen and Hansen's PR64. On the other side of the fence, NGC have three certified, two PR65 and one PR64. This could lead to a conclusion the Hansen coin is the #4 or #5 coin in the roster. If the conclusion is that there are only five known specimens, then the Lohr coin must be in one of the third-party holders. It could be the Hansen coin, but even with this mathematical conclusion, the theory cannot be with certain without images for comparison. When adding the early appearances, there may be other possibilities for the provenance of the Hansen coin. I am still lending toward the coin is #4 or #5 on the above roster until I can get an image to confirm. I hope at some point in the near future I can get an image from the Hansen Team so this coin can be properly identified.
Provenance: Early Pedigree TBD; Purchase in Private Transaction from Rare Coin Wholesalers, D.L. Hansen Collection.
1839 No Drapery Half Dimes, PR64 PCGS POP 1/1, Only Five Proofs Known Certification #45687875, PCGS #4409 PCGS Price Guide $37,500 / Realized Unknown Ex: TBD
Mr. Brush directs the company with the help of an extremely dedicated staff of 20 employees. The management team has a cumulative total of over 80 years with the company while DLRC’s numismatic team offers 100+ years of experience. They are deeply passionate about all aspects of coin collecting. Whether the coin is $5, $50 or $5 million, they are here to serve the collector with the best quality, service, and price possible. Brush and the DLRC staff are also equally focused on bringing the latest technology advances to the hobby. – About Us, DLRC website
A few days ago, you were able to read a series of posts about Rare Coin Wholesalers and coins purchased for the D.L. Hansen Collection. To be honest, I have never purchased a coin from RCW. I am a modest collector and their coins do not work in my household budget. David Lawrence Rare Coins business model is not the same as RWC. As stated on their website, they offer coins from $5 to $5 Million. A few years ago when I was working on a lower graded mint state 1800 US Type set, DLRC was a great source for me. As you may be aware, the Hansen Collection requires coins from modern issues to multi-million dollar ultra-rarities. This results in a good relationship and perfect fit for both DLH and DLRC.
I do not know the story of John Brush and Dell Loy Hansen. With time, we may learn more about how they first met. We do know the story and timeline as publicly written on the David Lawrence Website. After working for the company for nearly a decade, John Brush became President of DLRC in December 2016. A few months later, John Brush was elected to Board of Governors of Professional Numismatists Guild. This was certainly a busy time for Mr. Brush. At some point, he met Dell Loy Hansen, and within twelve months, they created a partnership. By December 2017, John Brush and DLRC become curators of the D.L. Hansen Collection. As result, 2022 will conclude five years of DLRC involvement in assembling the Hansen Collection. Before this DLRC/DLH relationship, , it appear that Mr. Hansen worked directly with a number of dealers and sources for approximately 18 months for the second half of 2016 and most of 2017.
As for ultra-rarities, we saw the 1907 PR69 “Ultra” High Relief Saint Gauden that Mr. Hansen purchased from RCW in late 2016. By means of the partnership, DLRC and D.L. Hansen have purchased an 1804 Original Proof $1 for $2.64M, the Louis Eliasberg 1885 Proof Trade Dollar for $3.96M, and the Jerry Buss 1894-S 10c for $1.32M, just to name a few highlights. The most recent purchase was the Brett Pogue 1854-S half eagle that John Brush acquired for Mr. Hansen in a March 2020 Stacks Bowers sale. Without doubt, David Lawrence Rare Coins has become the primary source for the D.L. Hansen Collection from $5 to $3.96M.
The recent sale of 1878 Liberty Head Quarter Eagle, PR65DCAM to the collection is an example of the meat and potatoes that DLRC provides.
1878 Liberty Head Quarter Eagle, PR65DCAM, CAC
A Condition Census Rarity, One of Three Finest PCGS Certified
David Akers described the 1878 quarter eagle proof as: Proofs are extremely rare and the 1878 is, in fact, the rarest post-1859 quarter eagle in proof. At least I know of fewer examples of this date than of any other proof after 1859. I would estimate that only half a dozen or so remain in unimpaired condition, most of which are impounded in museums or prominent collections. Note: All 1878 proof gold is extremely rare even though the reported mintage is similar to that for some other years. Perhaps some of the sets were not sold and were subsequently melted.
A Heritage cataloger wrote in 2012: The recorded proof mintage for the 1878 quarter eagle was a tiny 20 coins, making it among the lowest-mintage proof gold coins of the post-1858 era (and tied with the proof 1877 and 1878 three dollar gold pieces). Garrett and Guth commented of the issue several years ago: "The Proof 1878 Liberty Head quarter eagle is another favorite date of the series, with just about 10 examples known today. Two examples are in the museum collections of the Smithsonian and the ANS. The chance to purchase this date in Proof rarely occurs. The last examples offered at auction were from the collections of Byron Reed, John Jay Pittman, and Harry W. Bass. The Pittman coin sold for $29,700 in 1998. Pittman purchased the coin from New Netherlands in 1948 for $55. Pittman was famous for purchasing less-famous, but very rare, coins when others did not appreciate them."
I have reviewed the published auctions and PCGS/NGC POP reports. As result, I offer this CC Top Five list for the 1878 Liberty Head Quarter Eagle Proofs. NGC shows three PR65 Ultra Cameo specimens active with none finer. I cannot confirm any of the NGC specimens and I know the Pittman is a duplicate. It is currently pedigreed in both census reports. Also, PCGS has three certified PR65DCAM with none finer. They could be the total representation of PR65DCAM/UC specimens. In other words, there could be as many as two additional duplicates. With that thought, I am able to confirm as many as three specimens. I ranked CC#1 starting with the PCGS CAC, next the former NGC CAC, etc.
My List of Condition Top Five 1878 Quarter Eagle Proofs are the following:
1 - Hansen Specimen - PR65DCAM PCGS, CAC, Cert #46250376 - Purchase in Private Transaction from David Lawrence Rare Coins, D.L. Hansen Collection.
2 - Pittman Specimen - PR65DCAM PCGS, Cert #27721430 - Ex: New Netherlands Coin Co. (6/8/1948), $55; The John Jay Pittman Collection (David Akers, 5/1998), lot 1839, $29,700; William D. Plumley Collection / US Coins & Platinum Night CSNS Signature Auction (Heritage 4/2012 as PR65 Ultra Cameo NGC, CAC, Cert #211088-00), lot 5224, realized $37,375. (Note: Both PCGS & NGC certification numbers are active for this coin).
3 - Good River Specimen - PR65DCAM PCGS, Cert #50191974 Ex: Good River Collection Part II; Denver Elite Auction, (Superior Galleries, 8/2006), lot 639, realized $32,570; US Coins & Platinum Night/ CSNS Signature Auction, (Heritage, 4/2012), lot 5223, realized $50,313; CSNS US Coins Signature Auction, (Heritage, 4/2018), lot 4321, realized $52,800 (Auction Record)
4 - Unconfirmed Specimen - PR65 Ultra Cameo NGC, Cert #Unknown - Shown in NGC POP Report. (Possible duplicate of one of the PCGS coins)
5 - Unconfirmed Specimen - PR65 Ultra Cameo NGC, Cert #Unknown - Shown in NGC POP Report. (Possible duplicate of one of the PCGS coins)
Note: Thanks to Ron Guth for his research in confirming the pedigree for CC#3 and dbldie55 for providing Cert numbers.
In time, maybe more information will become available and the two NGC Specimens on the list can be cleaned up. Also, it would be great to understand a little more on the origin of the Hansen Specimen. As for now, it does show that the Hansen Collection has picked up a very nice specimen from just a small handful of the top graded coins. We will continue watch the 49-piece Liberty Head $2-1/2 Gold, Proof (1859-1907) set as Hansen picks up his final four coins. In the meantime, I am sure we will see more upgrades with many of them via David Lawrence Rare Coins.
Provenance: Purchase in Private Transaction from David Lawrence Rare Coins, D.L. Hansen Collection.
1878 Liberty Head Quarter Eagle, PR65DCAM PCGS POP 3/0, CAC Approve Certification #46250376, PCGS #97904 PCGS Price Guide $70,000 / Realized Unknown
Without doubt, David Lawrence Rare Coins is the primary source for Dell Loy Hansen Collection. Next month, David Lawrence Rare Coins and Dell Loy Hansen will celebrate the five-year anniversary of their partnership. This includes a business partnership in DLRC and the management of the vast Hansen Core Collection. This partnership has resulted in building one of the finest US Coin Collections to be assembled in the third-party grading era, including the last 35 years.
We have discussed the change in goals that was made by Mr. Hansen a few years ago. Several months ago, I quoted Mr. Hansen from interview from a segment named “A Behind-the-Scenes Look at the Hansen Collection”. The interview was part of the 2022 Newman Numismatic Portal Symposium, and I noted Mr. Hansen statement: Probably in ‘19, I made the hard decision that I am really going to go for best in grade.. really going to start to scrutinize the top coins for each date and grade.. asserted effort to buy those coins and upgrade those coins. Did having a partner like John Brush and the DLRC Team play into that decision. I think they did.
If you follow these updates and postings, you know how good the core collection has become in recent years. The US Entire Mint State Issues 1793 – Present Collection currently is 69 sets requiring 4558 coins. The core collection is 77.2% PCGS Condition Census Top Five. This includes 445 (9.8%) coins that are PCGS sole finest. Including the coins tied for finest at PCGS, the count increases (42.8%) to 1505 coins. The work required to locate, purchase, update, etc. with this number of coins is gigantic. After five years of hard work, it appears the DLRC Team is still up to the task. Since the ANA Auctions a couple months ago, I have tracked eight coins purchased from DLRC. There may be many more, but these are from the core sets.
Being DLRC and D.L. Hansen are partners in a private company, we have no knowledge in the business transactions that take place. As with all private transitions, we are left with the only way we can analyzed the sales are with PCGS Price Guide Values. So, looking at eight coins that I have identified purchased in September and October timeframe, value range is from $17,500 to $90,000. The total PCGS value is $440,000. The result is average per coin of approx. $55,000.
I did not list the modern coins in the table. Many of the modern updates and additions are provided by the DLRC Team. These updates are very time consuming and are not cost efficient. Mr. Hansen has stated on several occasions that his goal is to keep the collection up to date with new releases. This effort goes unnoticed in a collection of this value and size. It requires a lot of work under the surface.
With the DLRC Team working on this collection every day for the past five years, it has resulted in basically building the collection one coin at a time. As stated before, it is a daily churn. I would like to hear the new numbers in the collection. Several years ago, it was public communicated the collection comprised 12,000 coins. My guess would be 15,000 today. Also, keep in mind, David Lawrence Rare Coins have exclusive rights to the sale the Hansen duplicates. That is a whole another topic for another day.
1849-D One Dollar Gold, MS65, Ex: Tom Bender Collection
The Sole Finest 1849-D G$1 at PCGS (8/2021)
In Rarities Night Stacks Bowers, August 2021 ANA Auction, the cataloger characterized the coin as the Sole Finest. A little have changed in the past 15 months. Doug Winter best describes the coin as: The 1849-D is the most common gold dollar struck at the Dahlonega Mint. Like most first-year-of-issue coins, a number were saved as souvenirs. As a result, it is also the most available Dahlonega gold dollar in high grades. The 1849-D gold dollar is most often seen in Extremely Fine and the lower About Uncirculated grades. It becomes moderately scarce in the higher About Uncirculated grades. It is rare in Mint State but it is much more readily available in Uncirculated than any other Dahlonega gold dollar. The 1849-D is very rare in Mint State-62 and it is extremely rare in accurately graded Mint State-63. In 2021, there was only one PCGS graded GEM. The PCGS POP report now show three, but I believe to be incorrect.
By some accounts, there is one extremely high graded 1849-D One Dollar Gold specimen. That coin is best described by David Hall: There is an uncertified monster Gem example that Doug Winter saw years ago. Doug feels the coin would grade an incredible MS67. We should probably put this coin in the condition census as an "Estimate grade" MS67 or MS66. Mr. Winter expands the account by stating: At the 2001 American Numismatic Association convention held in Atlanta, an absolutely remarkable 1849-D was shown to me by an older gentleman. According to him, the coin had been in his family for at least seventy-five years. This coin, which I graded Mint State-66 to Mint State-67, had superb multi-hued coloration and was housed in an old manila envelope on which was hand written “1849-D Dollar, Brilliant Uncirculated Gem, $35.00.” I showed the coin to another dealer who was at my table and he agreed that it was the single most attractive Dahlonega gold coin that either of us had ever seen. I hope PCGS will one day have the opportunity to grade this coin. Until that time, this coin will remain a mystery.
In today’s census reports, there are four GEMs graded between the two major TPG companies. PCGS reports three MS65 and three just short of GEM at MS64. There is only one NGC graded MS65 and nine MS64. Including the monster mystery coin, I can only account for two other GEMs. As recent as last year, Stacks and Bowers described the rarity as: Extremely popular for mintmarked type purposes, the 1849-D is the premier gold dollar from the Dahlonega Mint. Just 21,588 examples were struck during this gold-rush year, and only about 300 of which survive for today's collectors. The vast majority of these show signs of handling and surface impairment, leaving only 35 or so survivors in all Mint State grades, most of which are in grades of MS-63 and lower. A certified MS-65 example like this jewel has never been sold at public auction, emphasizing the true significance of this offering for advanced Registry Set participants.
My List of Condition Top Five 1878 Quarter Eagle Proofs are the following:
1 - Georgia Collection Specimen - MS67 estimated grade -Reportedly seen by Doug Winter at the 2001 Atlanta ANA convention.
2 - Hansen Specimen – MS65 PCGS, Cert #46259614 - Rarities Night / ANA Auction, (Stacks Bowers 8/2021), Lot 4154, realized $78,000; The Tom Bender Collection / US Coins Signature Auction, (Heritage 8/2022 as PCGS Cert #41651797), lot 3808, realized $69,000; Purchase in Private Transaction from David Lawrence Rare Coins, D.L. Hansen Collection. (Note: Coin appears twice in PCGS Conesus as Cert #46259614 and #41651797. Both are active numbers)
4 - Unconfirmed Specimen – MS65 NGC, Cert #Unknown
5 - Twelve MS64 specimens (Three PCGS and Nine NGC)
As stated earlier, Stacks Bowers noted the coin was sole finest in August of 2021: This Gem is a monumental condition rarity from this historic and popular Southern gold issue. Sharply struck throughout, this beautiful example possesses strong luster and a semi-reflective finish. It is bathed in vivid golden-wheat patina with a natural planchet streak behind Liberty's hair that serves as a convenient pedigree marker. This MS-65 (PCGS) is one of the very finest known examples and ranks as the sole finest graded by PCGS. It represents the very pinnacle of preservation and simply cannot be improved upon. By the Bender sale, the coin had become a POP 2/0. Heritage cataloger stated: Lustrous sun-gold surfaces glisten when rotated in hand. The curls, stars, wreath, and legends all show razor-sharp design definition. A small planchet flaw behind Liberty's hair bun has no effect on the technical grade, and there are just a few tiny ticks near the 1 in the denomination. An incredible opportunity to obtain the finest 1849-D gold dollar on the Condition Census. Population: 2 in 65, 0 finer (6/22).
I personally believe the PCGS POP remains two in MS65 and none finer. In the five months since the Bender Sale, the Hansen/Bender coin has been resubmitted and given a new PCGS number. It appears to me, the old PCGS cert #41651797 was not properly retired. The coin replaces in the Hansen set a very nice PCGS MS63 POP 18/6, Cert #38196272 purchased in a private transaction from Rare Coin Wholesalers. When purchased in mid-2020, I would image this coin would have been a PCGS Top Five coin in the PCGS POP report. A two-half year life span in the Hansen Collection is not uncommon.
Provenance: Rarities Night / ANA Auction, (Stacks Bowers 8/2021), Lot 4154, realized $78,000; The Tom Bender Collection / US Coins Signature Auction, (Heritage 8/2022 as PCGS Cert #41651797), lot 3808, realized $69,000; Purchase in Private Transaction from David Lawrence Rare Coins, D.L. Hansen Collection.
1849-D One Dollar Gold, MS65 PCGS POP 3/0 Certification #46259614, PCGS #7507 PCGS Price Guide $90,000 / Realized Unknown Ex: Tom Bender Collection
The final David Lawrence Rare Coins update is very nice early gold issue. Currently, D.L. Hansen’s 12-piece gold collection, Capped Bust $2-1/2 Gold Basic Set, Circulation Strikes (1808-1834) set is on the move. If you recall that just a few days ago with the discussion of purchases from Rare Coin Wholesalers, we saw the 1834 Capped Bust Quarter Eagle, AU55 replacement with PCGS Price Guide Value of $210,000. As recap, you may recall on April 4, 2019, I reported a new upgraded, 1830 Quarter Eagle MS66, PCGS POP 1/0. The coin was valued at $195,000 and was purchased in a private transaction from David Lawrence Rare Coins. Then last fall, Mr. Hansen purchased a quarter eagle out of the Bob Simpson Collection. The 1831 MS66+ Prooflike PCGS coin was purchased in 2021 for $240,000. Today is another private transaction from David Lawrence Rare Coins, the 1829 Capped Bust Half Eagle, MS64 with a modest PCGS Price Guide $85,000.
The Quarter Eagles Capped Bust set by far does not carry the same weight and status that the Half Eagles. The Capped Bust Half Eagles are massive and historic. A complete set would include the exclusive 1822. There is no Capped Bust Quarter Eagle come close to touching that coin. Even the famous 1808 Quarter Eagle don’t come close to several Capped Bust Half Eagles. PCGS Registry describes the quarter eagle set as: The early gold coins of the United States are among the most coveted and rarest items in the numismatic world. This is due both to extremely limited original mintages as well as prolific melting that took place during the late 1820s and early 1830s when the bullion value of the coins exceeded their face value. The Capped Bust Quarter eagles were struck intermittently during this period, with none made between 1809 and 1820. The 1808 is a one-year type coin, and consequently enjoys substantial demand from those seeking a complete US type set. Most of the remaining dates are about equal in rarity, but a nice AU or better example will run into the low five-figure range.
In doing a quick assessment of the twelve Hansen Capped Bust Quarter Eagles, the set have 50% six-figure PCGS Price Guide Value coins. The six coins range from $175,000 to the 1831 MS66+ PL valued at $400,000. The remaining six coins is in the low five-figure range from $30,000 to the 1829 MS64, valued at $85,000 that I am featuring today. I can one day foresee this set to be 100% six-figured specimens.
This is a good opportunity to revisit the score card for this set. As stated, a few days ago, there are only four sets which represents the All-Time Finest PCGS Registry, The two sets that are current are The Hansen and earlyAurum sets. Louis Eliasberg set, and The Norweb Family set are two retired sets listed in the registry. Other than being All-Time number #1, these are the other key indicators in the Hansen 12-piece set:
1 Coin --- PCGS POP 1/0, Sole Finest, highlighting the amazing 1832, PCGS MS65.
1 Coin --- PCGS Tied for Finest Certified, highlighting the incredible 1824/1, MS64, POP 2/0.
2 Coins - PCGS Certified One Finer, highlighting the astonishing 1831 MS66+ PL, POP 1/1.
1 Coin -- PCGS Condition Census Top Five, highlighting the remarkable 1826/'5, AU58, POP 6/4
This impressive set still has a way to go. The set is 41.7% PCGS Condition Census PCGS Top Five. The set still have seven coins that are not condition census which makes prime candidates for upgrading. The lowest graded coin in the set is the key 1808 PCGS AU53+, POP 1/36. The coin still has a PCGS Price Guide Value of $235,000! Let’s see today’s feature coin.
Expert David Akers comment: Although sometimes lumped together with the type issued from 1821 to 1827, the quarter eagles from 1829 to 1834 are a distinctly different type. The diameter is smaller and the thickness has been correspondingly increased. The borders are beaded and the head of Liberty has also been modified. The 1829, despite the fact it has the lowest mintage of the type, is the most common date and the most easily obtainable in gem condition since some were undoubtedly saved as souvenirs of the first year of a new design.
The coin appeared in a recent Legend Rare Coin Auction. In The Regency 49 sale, this coin was offered from Cody's Collection. The LRCA cataloger described the date as: Like all the early quarter eagle dates, the 1829 had a paltry mintage of only 3,403 of which John Dannreuther estimates a survival of 70-90 pieces, all of the BD-1 die marriage. This date marks an important transition in the history of the United States mint. Prior to 1829, coins were struck on an open collar press which did not allow for uniform diameters. In 1829, the mint installed new closed collar presses, and the diameter of the quarter eagle and half eagle became noticeably smaller. To fit these new presses, the design, originally prepared by John Reich in 1821 was slightly modified by William Kneass to fit the new dies.
PCGG POP reports only four GEM graded specimens, including two MS65, the Bass MS65PL and a monster MS67. This coin holds the auction record of $316,250 set during a Heritage’s Denver Platinum Night in August 2006. There is not much information on the coin other than Heritage described it as: Superb Prooflike Gem 1829 Quarter Eagle. The CC#2 specimen is a MS65PL from the Bass Foundation sale that recently realized $144,000. Successful buyer is unknown. Probably CC#3 would be the MS65 specimen from D. Brent Pogue Collection realizing $105,750. As previously stated, there is a second MS65 that is not known. Although, it could be the PCGS MS65 specimen that appeared in a Stack's July 2005 auction realizing $132,250. On the other side of the fence, NGC have two MS65 in their census report. One of them appeared in a September 2020 Heritage Auction where it realized $84,000. With this information, I would place the TPG GEM count between 5-6 specimens.
Although this new Hansen coin is clearly not in the Top Five ranks, Legend’s describes it as: This is a wonderful near-GEM example and a Condition Census piece, among the 10 FINEST graded by PCGS. Bold and brilliant golden luster blooms vividly on both sides. There is a flashy semi-reflective texture on in the fields and the design elements are sharp with a nice frost. Aside from a couple of very widely spaced little ticks and giggles, the surfaces are sleek, smooth, and ultra clean. This is a truly beautiful example of this RARE date and type!
There is still a handful of Bass Foundation quarter eagle coins that will be offered in future sales, including an 1808 MS62 specimen. Let’s watch and see if Mr. Hansen is done with this Capped Bust $2-1/2 Gold Set for now.
Provenance: The Elbert Henry Gary Collection / ANA US Coins Signature Auction, (Heritage 8/26), lot 4258, realized $51,700; Cody’s Collection / Regency Auction 49, (Legend 12/2021), lot 279, realized $76,375; Purchase in Private Transaction from David Lawrence Rare Coins, D.L. Hansen Collection.
Winter 2022 Auctions (1 of 6) – The Harvey B. Jacobson, Jr. Collection / Stacks Bowers (1 of 3)
Stack’s Bowers Galleries is pleased to announce the sale of the Harvey B. Jacobson, Jr. Collection of 1795 to 1804 $10 Gold Eagles. Mr. Jacobson is only the third collector known to have completed this set by die marriage, joining the august company of Anthony J. Taraszka and the owner of the Tyrant Collection. - Whitman Coin & Collectibles
In my first reading this announcement, I thought it to be inaccurate. At first, I thought that I remembered Harry Bass having a complete set. He had 32 coins but was missing one. The complete set is 33, if you include the 1804 Plain, 4 DB-2 Proof. Bass had the 1804 BD-2, but was missing the 1803 Large Reverse Stars, 13 Stars, BD-6 specimen. Therefore, Mr. Taraszka and Mr. Jacobson assembled a complete early eagle variety set without the 1804 BD-2 Proof. This means that the Tyrant stands alone as the only collector to assemble the complete 33-piece die marriage set. Until this sale, Mr. Hansen has shown little to no interest in Early US Gold die varieties. Will that someday change?
This was an interesting sale that Mr. Hansen participated in. In my review of the 32 lots offered in the sale, I could identify only three coins that would improve the Hansen Core Collection. Mr. Hansen and the DLRC Team was successful in obtaining two of the three. The surprise came when I discovered he purchased several more coins, including coins that were not as fine in grade as the coins that he had in his core set. I do not know what this mean. Are these eagles holiday presents? Is he going for the 32 or 33 piece set? Is he setting the table for something else like a second set of Early Eagles? Another possibility is that the Jacobson sale was soft and he could not walk about at the prices. Although, the sale did not appear that soft. Let’s look at what he purchased.
The first coin featured will be the only upgrade to the Hansen Core Collection of Early US Eagles. As I previously stated, there were only two upgradable coins in the 32 lot Jacobson sale. Let’s look at the one of the two purchased.
Expert David Akers describes the coins as: This is one of the rarest of the early Eagles but, despite the similarity in the mintages of this and the 1798/7, 7x6 Stars, the 1798/7, 9x4 Stars is not nearly as rare as the 7x6. In fact, based on the auction appearances, this issue is not really as rare as generally believed and has appeared with the same frequency as the 1804 and less often than the underappreciated 1797 Small Eagle. Most known specimens' grade from VF to AU but several strictly uncirculated examples are also known.
This coin is a PCGS Top Five coin, but in an overall condition census report, the coin is just a solid top ten. The finest coin is the Bass Core Specimen that was recent graded MS63 PCGS. The Bass MS63 coin is from the Garrett Family Collection. It sold in 1980 Bowers & Ruddy sale of the Garrett Collection as an uncertified MS65. I would expect the recent MS63 PCGS grade to be disappointing for this coin. The Tyrant MS62+ specimen is an Ex: Pogue/Eliasberg/Clapp eagle. The PCGS coin is tied for the #2 spot with the other MS62+ specimen from the New Orleans Collection that recently appeared in a Bob Simpson Auction. The next is one is a PCGS MS62 from the Farish Baldenhofer Collection. Then comes the Hansen/Jacobson specimen tied for PCGS #5 with two other coins. NGC census report has four coins graded MS61 with sole finest MS63 from the Ketring Family Collection. The PCGS and NGC combine reports have a total of twelve specimens that are MS61 and better. This count could be inflated by a couple coins if there are resubmits. With this information in handed, I would place the Hansen/Jacobson coin on my condition census list between CC#6 and CC#9.
I created my list above before finding a list that my friend Ron Guth put together a few months ago for the Heritage’s August 2022 US Coins Signature Auction featuring the sale the Bob R. Simpson Specimen. The cataloger wrote: Of course, when one adds in the factor of conditional rarity, the present 1798/7 eagle in MS62+ PCGS is among the few finest survivors of this issue. This coin is the number 3 example in the Numismatic Detective Agency's Top Ten listing, compiled by prominent researcher Ron Guth (see listing below with my slight updating).
1. Bass Specimen MS63 PCGS, Cert #46092780 - Harold P. Newlin Collection, sold privately on 10/31/1884; T. Harrison Garrett Collection; Robert and John Work Garrett, by bequest; John Work Garrett; Johns Hopkins University; Garrett Collection, Part III (Bowers & Ruddy 10/1980), lot 1659 (as a raw MS65), realized $52,500.00; Harry W. Bass, Jr.; Harry W. Bass, Jr. Research Foundation Permanent Collection of U. S. Gold, Patterns and Currency (HBCC #3180); Harry W. Bass, Jr. Core Collection, Part III / CSNS US Coins Signature® Auction, (Heritage 4/2023 as MS63 PCGS), Lot TBD.
2. MS63 Ketring Family Specimen, MS63 NGC, Cert #913021-001 - Collection (Heritage, 7/2003), lot 10412 (as NGC MS63, realized $132,250.00.
3. Simpson Specimen, MS62+ PCGS, Cert #44156469 - New Orleans Collection (Heritage 4/2015), lot 5383, realized $188,000.00; New Orleans Collection, Part II (Heritage 6/2015); lot 4276, realized $199,750.00; Bob R. Simpson Collection / US Coins Signature Auction, (Heritage 8/2022), lot #3387, realized $324,000 (Auction Record).
4. Tyrant Specimen, MS62+ PCGS, Cert #31694558 - John M. Clapp Collection; John H. Clapp Collection, sold intact via Stack's in 1942; Louis E. Eliasberg, Sr.; United States Gold Coin Collection (Bowers & Ruddy, 10/1982), lot 649 (as a raw MS62), realized $33,000.00; D. Brent Pogue Collection, Part II (Stack's Bowers & Sotheby's, 9/2015), lot 2096, realized $258,500.00; Tyrant Collection (Coin 9), displayed at the 2/2020 Long Beach Expo as PCGS MS62+.
5. Baldenhofer Specimen, MS62 PCGS, Cert #10757716 - Farish (William Gustav "Bill") Baldenhofer Collection (Stack's, 11/1955), lot 1439; Rarities Sale (Bowers & Merena, 8/1999), lot 421; Pre-Long Beach Auction (Superior 2/2000), lot 1176; Benson Collection, Part II (Goldberg Auctions; 2/2002), lot 2058 (as PCGS MS61), realized $51,750.00; FUN Signature (Heritage, 1/2004), lot 3056 (as PCGS MS61, realized $80,500.00; Pre-Long Beach Auction (Goldberg Auctions, 2/2007), lot 2387 (as PCGS MS62, cert. #10757716), realized $218,500.00; Pre-Long Beach Auction (Goldberg Auctions, 9/2008), lot 1274, not sold; Pre-Long Beach Auction (Goldberg Auctions, 2/2009), lot 1524, realized $178,250.00; Central States Signature (Heritage, 4/2014), lot 5761, realized $176,250.00.
6. Prooflike Specimen, MS61 PCGS, Cert #28902214 - FUN Signature (Heritage, 1/2015), lot 4324, realized $117,500.00.
7. Hansen/Jacobson Specimen, MS61 PCGS, Cert #40011172 - Major William Boerum Wetmore Collection (S.H. & H. Chapman, 6/1906), lot 32 (as a raw Extremely Fine), realized $77.00; unknown intermediaries; RARCOA, sold privately on 2/1/1975 to Harry W. Bass, Jr.; Bass Collection, Part III (Bowers & Merena, 5/2000), lot 561, realized $75,900.00; Jim McGuigan, 2003; The Harvey B. Jacobson, Jr. Collection / Winter 2022 Auction (Stack’s Bowers, 11/2022), Lot 4011, realized $168,000, D.L. Hansen Collection.
8. Rube Specimen, MS61 PCGS - Rube Collection (Heritage, 8/2018, as NGC MS61, Cert # 3022470-004), lot 5258, realized $96,000.00.
9. Ohringer Specimen, MS61 NGC, Cert # 1785837-008 - Ohringer Family Trust - Holdings, Part II (Goldberg Auctions, 9/2008), lot 1275, realized $138,000.00; Rarities Night (Stack's Bowers, 8/2012), lot 11730, not sold; Pre-Long Beach Auction (Goldberg Auctions, 1/2014), lot 1825, not sold; Rarities Night (Stack's Bowers, 8/2014), lot 13236, not sold.
10. Defect Specimen Genuine - UNC Details (92 - Cleaned) PCGS, Cert #36723335 - FUN Signature (Heritage, 1/2019), lot 4682 (as PCGS AU Details, Cleaned), realized $36,000.00; Central States Signature (Heritage, 4/2019), lot 3895 (as PCGS Unc. Details, Cleaned), realized $33,600.00.
Ron Guth reports the Hansen/Jacobson MS61 coin as a CC#7. I am not a prominent researcher for sure, but my thoughts were CC#6 and CC#9. The ranking given by Ron Guth falls nicely in my range. Very Cool! The Stack’s Bower cataloger added this commentary: Although the rarity of this date has been overstated in the past (Breen, for one, estimated that only 31 to 33 1798/7 eagles of both varieties were extant), this issue still ranks as the second scarcest in the early eagle series after the final year 1804 Crosslet 4. BD-1 is the more readily available of the two varieties of this issue. The 1798 as an issue is significant as the first in the early eagle series to feature overdate dies, both obverses having the digit 8 cut over a 7. It is also significant as the first in its series with 13 stars on the obverse, and clearly both obverse dies were prepared after the Mint abandoned the idea of adding a star for each new state that joined the Union. After Tennessee's admission brought the requisite number of stars under that plan to 16, overcrowding of the design clearly became a problem, leading to the decision to feature only 13 stars in honor of the original 13 states. Mint employees initially experimented with the arrangement of the 13 stars on the obverse dies of the eagle, with the two 1798/7 varieties displaying different arrangements of 9x4 and 7x6, respectively. In the end, neither of those arrangements were accepted for long term use, as the Mint instead decided on the 8x5 arrangement for all remaining Capped Bust Right eagles beginning with the 1799-dated coins. As such, the 1798/7 BD-1, with its 9x4 star arrangement, is unique in the early eagle series and represents a must-have variety for the serious gold type collector. This is one of the finest certified examples of the variety. With an illustrious provenance, as well, this coin is sure to find its way into another world class early gold cabinet.
This MS61 specimen has a lot of appeal. The strike is described as: This is a boldly to sharply struck early eagle with only trivial lack of detail along the lower right obverse border, at star 4 on the same side, and over the highest elements of the design, where slight softness of strike mingles with trivial numismatic handling that helps to explain the MS-61 grade from PCGS. The surface is described as: Both sides exhibit moderately reflective satin luster with a hint of green-gold color. A few minor marks are noted, consistent with the assigned grade, but none are serious. A planchet drift mark (as made) is out of the way at the reverse border between the letters AM in AMERICA - a useful provenance marker. The eye appeal is superior for the assigned grade.
The coin is certainly a very nice upgrade to the previous AU58 Specimen from Taraszka Collection. Although the coin is not a true CC Top Five, a PCGS Top Five coin works well in this 4558-coin core collection registry set. In some recent upgrades, we have seen a large improvement in the Hansen Eagles. This is not the last. The next post is an additional eagle that was not previously in the Hansen Collection.
Provenance: Major William Boerum Wetmore Collection (S.H. & H. Chapman, 6/1906), lot 32 (as a raw Extremely Fine), realized $77.00; unknown intermediaries; RARCOA, sold privately on 2/1/1975 to Harry W. Bass, Jr.; Bass Collection, Part III (Bowers & Merena, 5/2000), lot 561, realized $75,900.00; Jim McGuigan, 2003; The Harvey B. Jacobson, Jr. Collection / Winter 2022 Auction (Stack’s Bowers, 11/2022), Lot 4011, realized $168,000, D.L. Hansen Collection.
The prices for this sale were for the most part very strong. I wanted a 1795 and I thought the bids were too high and I dropped out of the bidding. I believe the Hansen purchases you list were good value.
Winter 2022 Auctions (2 of 6) –The Harvey B. Jacobson, Jr. Collection / Stacks Bowers (2 of 3)
Draped Bust Eagles - Washington, Adams and Jefferson were the Presidents of the United States when these coins were struck, and they are the largest denomination issued until 1850. Both the Small Eagle and the Large Eagle types are part of this historic set. Rarities include all of the Small Eagle issues plus the 1798/7 9X4 Stars. In top condition, of course, all of the coins are classic rarities. Take the basic ten-coin set (challenging enough!) and add five more rarities to the set and you have a magnificent collection, indeed. You'll have a hard time finding the 1795 9 Leaves and the 1798/7 7X6 Stars, but the hunt is half the fun. These coins can get very pricey, but they are solid values that have stood the test of time. Beautiful and incredibly historic coins from the early days of America! – PCGS Set Registry
Finally, the hunt for the 1798/7 Capped Bust Right Eagle. BD-2, Stars 7x6 specimen is over. In fact, this is the last coin needed to complete the 230-piece entire circulating strike eagle core collection. It took Mr. Hansen and his team about six and half years to reach that accomplishment. It may not be the grade he would have desired, but the rarity, the coin speaks for itself. The table represent the complete core collection of eagles.
As you can see, the eagle collection has 15 PCGS sole finest specimens with 14 from the Liberty Head Set. Another 37 specimens are tied for finest that results in the complete 230-piece set being 22.6% PCGS finest. This is a little off pace than most of the other core sets. Maybe more importantly, the Hansen Collection of Eagles are slightly over 70% PCGS Top Five specimens. Still slightly off pace of the core collection which is amazingly a little over 80% PCGS Top Five. As many of you know, just because Hansen completes a set does not slowdown or hinders the upgrading. We can expect to see these numbers improving.
With the purchase of the 1798/7 Capped Bust Right Eagle. BD-2, Stars 7x6 specimen from the Jacobson Collection, the D.L. Hansen Collection now have a complete set of eagles, but just as importantly, this purchase reduces the Hansen countdown to ten. The difficulty is increase with each countdown coin added.
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 10 remaining collectable coins in this quest. Two coins in The Major Varieties Set are not collectable, 1797 Half Eagle "Large Eagle, 15 Stars" and 1797 Half Eagle "Large Eagle, 16 Stars", 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 5
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)
Last 5
1842 Half Dollar "Small Date, Rev of 1839" (Survival est. 10 w/ 1 Mint State)
1820 Half Eagle "Curl Base 2, Sm Letters" (Survival est. 14 w/ 8 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)
A quick plug for the three remaining Bass sales. There are a few additional gold coins on the list that will appear in a future Harry Bass sales. Therefore, Mr. Hansen will have the opportunity to trim this list down a little more.
Unique Obverse Star Arrangement, A Charming Choice Fine Example
What does it mean when something is said to be charming? By some definitions, the term is referenced to as extremely pleasing or delightful. I think for a well circulated fine specimen, I would agree the use of this term is correct. You saw the condition census for the collection is amazingly high with 70% of the coins being PCGS Top Five. The eagle collection has only five coins graded below AU53 starting with the amazing 1875 AU50 eagle from the Harvey B. Jacobson, Jr. Collection purchased by the Hansen Team in 2020. The other coin is the 1872CC AU50 that is an Ex: Hall / Simpson. There is a lonely 1864-S XF45 and then the current coin purchased, the 1798/7 Capped Bust Right Eagle. BD-2, Stars 7x6, PCGS F-15. The fifth coin the ungraded 1933 that Mr. Hansen purchased in 2019 in The Poulos Family Sale. The coin is tied to the S. Hallock Dupont Collection. Most collections are not measured by the coins at the bottom of the sets. If you choose to judge the Hansen eagles by his bottom five, then they would look like this:
#226) 1875, AU50 PCGS, POP 3/3, Purchased in 2020 auction realized $360,000 #227) 1872-CC, AU50 PCGS, POP 10/10, PCCG Price Guide Value = $37,500 #228) 1864-S, XF45 PCGS, POP 5/9, Purchased in 2020 auction realized $126,000 #229) 1798/7 $10 7X6 Stars, F15 PCGS POP 1/11. Purchased in 2022, realized $78,000 #230) 1933, N1 PCGS, POP 2/11, Purchased in 2019 auction realized $300,000
In my collection, these coins would be my Box of Five. In Hansen Core Collection, they are a drag on the set rating. The Hansen Team actively upgrading the remaining coins at the bottom in this core collection. Now, more on the 1798/7 $10 7X6 Stars Eagle.
Expert David Akers comments: With the exception of the extremely rare and unpublicized 1795 Nine Leaves Eagle, the 1798/7, 7x6 Stars Eagle is by far the rarest issue from 1795-1804. It is two to three times as rare as the 1798/7, 9x4 Stars, the 1797 Small Eagle or the 1804, and many more times rare than any of the others. Like most very rare coins, this isue has generally been overgraded and, in my experience, VF-EF is the typically seen grade. There are, however, several uncirculated examples known. It is interesting to note that this is the only early Eagle to rank in the top 50 issues of the series in rarity according to frequency of appearance at auction. (The 1795 Nine Leaves probably would have ranked at the top had it been listed seperately in auction catalogs.)
In an interesting fact, there have been one mint state specimen offered in public auction in the past eighteen years. That coin was offered in The D. Brent Pogue Collection, Part II sale that was held September 2015. The auctioneer was Stacks Bowers and the rare MS61 PCGS coin realized $705,000. It is auction record that still stands today. I don’t expect that auction record will survive the Bass MS62 offering in January 2023. I would predict it to top the million-dollar mark. If the bidding for the coin blows its top, then with this purchase of the Jacobson’s F15, it may relieve some bidding pressure from the shoulders of the Hansen Team.
The Stacks Bower cataloger estimated mintage for the issue as: Walter Breen asserts that 1,742 eagles were struck from 1798-dated dies, composed of the 900 coins delivered on February 17, 1798, and the 842 pieces delivered on February 28 of that year. Based on a more exhaustive study of die states and emission sequences, as well as modern estimates on the number of coins extant, Dannreuther provides a broader range of 1,500 to 2,442 coins struck for the 1798/7 eagle as an issue. As for the variety DB-2, the cataloger estimated mintage: Numismatic tradition accepts a mintage of 842 coins for the 1798/7 Stars 7x6 eagle, based on Breen's assertion that the 842-piece delivery of February 28, 1798 was achieved using only this die pairing. Given the paucity of survivors in numismatic circles, however, Dannreuther provides an estimated mintage of 300 to 842 coins for this variety, many of the coins delivered on February 28 likely from the 1798/7 BD-1 Stars 9x4 dies. With all that, the estimated Surviving Population per Dannreuther for the Variety: Only 20 to 30 coins are believed extant in all grades.
The cataloger added additional commentary: Like its identically dated BD-1 counterpart, the 1798/7 BD-2 eagle is unique for its obverse star arrangement in the Capped Bust Right ten-dollar gold series. Although this obverse die represents the only use of the 7x6 star arrangement, this actually seems like a more appropriate arrangement than the 8x5 style that replaced it beginning with the 1799-dated coins The 7x6 arrangement allows better centering of the word LIBERTY along the upper border, while on all stars 8x5 obverse dies the word LIBERTY begins in front of the cap and continues far to the right to approximately the 2 o'clock position. The scarcity of this variety precludes many numismatists from ever seeing a 1798/7 Stars 7x6 eagle, let alone acquiring an example for their collection. Indeed, after only the 1795 BD-3 9 Leaves, this is the scarcest early eagle die variety produced up to that point in time. The elusiveness of survivors is certainly due to the fact that few coins were struck in the first place. The obverse die failed quickly and developed myriad cracks, as seen on all known examples. It was replaced by the workhorse die of the 1797 Heraldic Eagle issue which, when mated with the same reverse die of both 1798/7 varieties, went on to strike the 1797 BD-3 variety. It was then the turn of the reverse die to yield to a replacement, after which the 1797 BD-4 variety emerged from the press. With the number of coins believed extant suggesting more extensive mintages, both the 1797 BD-3 and BD-4 varieties were likely delivered after February 28, 1798. The 842 eagles delivered on that date probably comprised a small number of 1798/7 BD-2 coins and additional 1798/7 BD-1 examples. As with so many early eagle varieties, the rarity of the 1798/7 Stars 7x6 has been overstated in the past. Breen (1988) asserted that only 13 examples were known. The actual number of survivors is approximately twice that number, which is still small in an absolute sense and confirms this as a very scarce variety. The unique obverse star arrangement places increased variety collector pressure on the few known examples, further highlighting the bidding opportunity represented by the present offering.
I am certain that Mr. Hansen prefers a better specimen. As I stated earlier, it took Mr. Hansen and his team about six and half years to find a specimen to purchase. They elected not to miss the opportunity when the Jacobson Specimen was offered. I am sure in a couple months when the Bass MS62 POP 2/1 specimen is offered, if the team has a good opportunity to upgrade, they will be one of the bidders. As for some of the competition, Jay Parrino currently has the AU58, Cert #37979184 specimen. He may desire to upgrade the PCGS Pop 4/5 specimen. The Schwenk and Madeline registry sets still need a specimen. We will have to watch and see what’s happens when this coin is offered. It going to be fun to watch. In the meantime, the Hansen Collections of Circulating Strike Eagles are complete.
Provenance: Donovan and Hudgens Collections sale, (Bowers and Merena's, 11/1993 as uncertified F12), lot 1513, realized $18,700; J.A. Sherman Collection sale, (Stack's, 8/2007), lot 3296, realized $31,050; The Harvey B. Jacobson, Jr. Collection / Winter 2022 Auction (Stack’s Bowers, 11/2022), Lot 4012, realized $78,000, D.L. Hansen Collection.
Winter 2022 Auctions (3 of 6) –The Harvey B. Jacobson, Jr. Collection / Stacks Bowers (3 of 3)
Exceptional Outcome for Complete Set of Early $10 Gold Coins - by Greg Reynolds, Greysheet Newsletter
I miss Greg Reynolds posting regularly on this site. He was so insightful, and he would really get you thinking about something he was discussing. Sometimes controversial, but just enough to make his reads interesting. With that said, I want to bring everyone attention to an article that was recently penned on The Harvey B. Jacobson, Jr. Eagles. Mr. Reynolds stated his thoughts on Jacobson goals: Jacobson fulfilled a goal that few have even attempted; he acquired representatives of all thirty-two known die pairings of business strike Bust eagles. The Proof ‘1804’ eagles that were minted in 1834 and/or 1835 are a different matter. In my last posting, I stated that I believe the Tyrant is an exclusive in assembling all thirty-three pairing. So far, there has not been anyone to challenge me on that declaration. Mr. Reynolds introduced the Jacobson collection of Eagles as: The Harvey Jacobson set of early U.S. $10 gold coins (Bust eagles) was publicly sold on November 1 as part of an auction extravaganza at the Stack’s Bowers headquarters in Costa Mesa, California. As there has been a raging market for rare U.S. gold coins, especially Bust eagles, since January 2021, prices realized that are much higher than corresponding prices realized before 2021 are not necessarily revealing. The most newsworthy aspects of the Jacobson set are its completeness and prices realized for especially rare Bust eagles.
He described the market for these coins as strong: Bust eagles were minted for circulation from 1795 to 1804. The prices realized for the Jacobson set were more impressive than the coins themselves; the results were clearly strong overall. Many coins brought middle-retail prices or more. The premiums paid for the rarest die pairings of bust eagles, however, were ambiguous. The rage for rare date gold since January 2021 has not been joined by a rage for rare die pairings. In the Reynolds article, he did not state how much the Jacobson coins realized as a total. In another Greysheet article, it was stated: Over $23 Million Sold in the Stack’s Bowers Galleries Winter 2022 Auction. In this article, the price realized for several collections was given, including the Jacobson coins. The article stated: The Harvey B. Jacobson, Jr. Collection presented a complete set of Capped Bust $10 gold eagles, 1795 through 1804, including all known die varieties struck for circulation. This 32-piece set was the third known complete collection of this series and it realized over $2.9 million in the Stack’s Bowers Galleries Winter 2022 sale. Notable results include a MS-62 (PCGS) 1796 BD-1 with provenance to the Byron Reed Collection that realized $300,000, and an AU-58+ (PCGS) CAC 1795 BD-1, 13 Leaves that sold for $288,000.
From what I can piece together, it appears to me that the Hansen Team purchase as many as seven of the 32 lots in the Jacobson sale. As I discussed in an earlier posting, I found it to be a little surprising and at the same time fascinating. In my review of the 32 lots offered in the sale, I could identify only three coins that would improve the Hansen Core Collection. One was the coin that he did not have, the 1798/7 $10 7X6 Stars, BD-2 that was featured in my last post. The second coin was an upgrade. In the first post, I featured the 1798/7 $10 9X4 Stars, BD-1 that is MS61 replacing an AU58. The only other coin that would improve the Hansen Core Collection was the 1796 MS62. Greg Reynolds comments on the coin: The highest price realized in the Jacobson set was for his 1796 eagle, which was PCGS graded MS62. I find the BD estimate of 125 to 175 surviving 1796 eagles to be too high. I estimate that around 120 survive, in all states of preservation, including ungradable coins. For example, the NGC census includes fourteen non-gradable 1796 eagles in “Details” holders. The Hansen Team dropped out of the bidding at some point on this coin.
The surprise came when I discovered he purchased several coins that did not improve the Core Collection. The seven coins purchase includes the two improvements and five other specimens. I do not know what this mean. At this point, I will just share the seven coins that I found purchased from the Jacobson Sale. Note: The two coins highlighted red updated the Core Collection.
I do not think that currently Mr. Hansen is considering building a 32- or 33-piece early eagle set, but I could be wrong. I think more likely, he is eyeing a second set. Greg Reynolds offers a lot of additional information in his article. If you have an interest to learn more on the die pairings of Bust Eagles, I recommend this to be a very good read. I will provide a link in case you want to take a look.
1803 $10 Small Reverse Stars Eagle, BD-3, MS63, Ex: King Farouk / Maurice Storck
Expert David Akers describes the coins as: Eagles were minted in 1802 but all were struck using dies dated 1801. Therefore, the 1803 is the next issue of this type. As a date, the 1803 is perhaps twice as rare as the 1799 or 1801, and it is considerably more difficult to obtain in choice or gem uncirculated condition. Most available specimens are quite high grade, EF-AU being typical. Varieties exist with small reverse stars as on earlier issues and large reverse stars as on the 1804. No difference in value is generally ascribed to these varieties but in my opinion, the large reverse stars variety is decidedly more rare, and should be worth a premium. There is also one interesting variety, discovered by Harry Bass, that has an additional 14th star in the reverse clouds.
As an interesting note, the eagle with the additional star is not a major variety. I could see it to be one at some point, to me the difference in enough to make the coin a major variety. There are six die varieties classified. This would be a great time to see them with Hansen top specimens.
Small Star Varieties
1803 $10 BD-1, Small Reverse Stars
1803 $10 BD-2, Small Reverse Stars
1803 $10 BD-3, Small Reverse Stars – Two MS63 Cert #25250086 / Cert #39426785
1803 $10 BD-4 Small Rev Stars
Small Star Varieties
1803 $10 BD-5, Extra Star – MS62, #36674559
1803 $10 BD-6 13 Lg Rev Stars
As can be seen, the 1803 have multiple die varieties for both major varieties. Ron Guth adds some clarity to Akers writing: 1803 Eagles ($10) are found with either large or small stars on the reverse. In the years following David Akers' writeup in 1980, sufficient interest has developed in the two varieties that they are now recognized by PCGS and NGC, and the respective population reports give us a good estimate as to their relative rarity. Akers called the Large Stars reverse "decidedly more rare" and he was correct -- the Large Stars (according to the PCGS Population Report) is four times as rare as the Small Stars variety. However, both can be found in Mint State with relative ease, though such high-grade pieces are rather expensive. The PCGS CoinFacts Condition Census for the Small Stars variety starts at MS64 and ends at MS65. This is an amazingly high level for any early U.S. coin, especially for a large-size gold coin. This indicates that many were saved by collectors, to whom we give thanks for their prescient thinking. Full struck examples of this variety are non-existent. All come with weak stars, especially on the lower left; the rare example will have strong details on the arrows and the eagle's claw which holds them. The finest 1803 Small Reverse Stars $10's are a single PCGS MS65 (which has been off the market since 2000) and a similar Gem in the National Numismatic Collection at the Smithsonian Institution.
This purchase gives the Hansen Collection at least two MS63 1803 BD-3, Small Stars, Eagle Specimens. I am not sure which one he will consider to remain in his core collection. Of course, the Farouk / Jacobson Specimen has the stronger pedigree of the two. The Stack’s Bowers cataloger describes the coin’s strike as: Central striking detail is razor sharp to full on both sides, allowing ready appreciation of the major design elements. The peripheries are somewhat softer, however, and largely due to myriad adjustment marks (as made) on the obverse, most noticeably at the upper and lower left borders. The appearance is described as: Full mint frost blends with vivid golden-apricot color to deliver strong eye appeal. We note only wispy hairlines and a few minor marks to define the grade, most of which are on the obverse, and none of which are worthy of individual attention.
The coin carries a PCGS Price Guide Value of six figures ($100,000). The Hansen Team had a reason to buy this coin, but I not sure of what that was. We may need to wait a see where it lands. By my count, if Mr. Hansen decided to start a second set for the 14-piece Early Eagles, then it would already be 50% complete. That could be the plan, but for now, only time will tell.
Provenance: King Farouk of Egypt; The Palace Collections of Egypt, (Sotheby's 2/1954), lot 187; The Maurice Storck Collection / Signature Auction, (Heritage 10/2020), lot 18395, realized $49,200; The Harvey B. Jacobson, Jr. Collection / Winter 2022 Auction (Stack’s Bowers, 11/2022), Lot 4011, realized $168,000, D.L. Hansen Collection.
1803 $10 Small Reverse Stars Eagle, BD-3, MS63 PCGS POP 16/12, BD-3, Taraszka-28 Certification #39426785, PCGS 8565 PCGS Price Guide $90,000 / Realized $100,000 Ex: King Farouk / Maurice Storck
Winter 2022 Auctions (4 of 6) – Fairmont Collection (CBL Set) / Stacks Bowers (1 of 2)
Has the Market Begun to Undervalue Fairmont Coins? - Douglas Winter Numismatics Article, November 21, 2022
We have certainly seen the Fairmont hoard being a fuel to supply the heat for many upgrades in the Hansen Core Collection in 2022. A couple days ago, I saw a very interesting article written by gold expect Doug Winter. I will share a couple excerpts but would highly recommend going to his website and read his article in its entirety. He opens with a recap: The dispersal of the Fairmont Hoard began in 2018. It became better organized in 2022 with the offering of the faux sets of half eagles, eagles, and double eagles which were given the names “Hendricks” (Sold in April 2022), “JBR” (Sold in August 2022), and “CBL” (sold in November 2022). It is interesting to note the decreasing prices for many of the issues which were offered in each of these sales in similar or virtually similar grades.
Also, I believe the set decrease in grade stating with the Hendricks set as the best and most complete. Mr. Hansen and Team purchase coins from both of the first two sales in 2022. I thought the Hansen Team would set out of the CBL sale. From an extensive search of the 415 lots offered this sale, I just could not find upgradable coins, except one. The only coin that would upgrade the Hansen Core Collection was the 1884-CC $5 AU58+ with POP 1/ 3. Ironically, Mr. Hansen did not purchase the lonely coin from the lot of 415 coins. The 1884-CC half eagle was purchased by a collector assembling a Carson City set named “LIBERTY OR DEATH”. The coin realized $16,800.
I have been pondering since the CBL sale about three weeks ago the question, why is Mr. Hansen buying coins that do not serve a purpose of upgrading his core collection. The best answer that I can come up with may be from the brilliant mind of Doug Winter. He presented an interesting reflection: It is my observation that the market is suffering from Fairmont Fatigue. This has caused some really nice (and really rare) coins to sell for significant discounts and, in my opinion, the prices realized for some—but not all—of the coins offered by Stack’s Bowers in November 2022 were bargains.
I have seen this shaping up for an awhile, but the Stack’s Bowers Winter 2022 Auctions of The Harvey B. Jacobson, Jr. Collection and the Fairmont CBL Set has really brought it unto the light. What is being brought into light? The fact that when many collectors are seeing the gold market to be a seller market, in some cases, Mr. Hansen and his DLRC Team may be viewing it as a buyer opportunity. As Mr. Winter may be suggesting, seeking out bargains. We may be starting to see another uniqueness in this collector that we don’t see every day.
Is there a risk to what we see happening in the D.L. Hansen Collection? Possible. Mr. Hansen focused his efforts in the Fairmont CBL set of double eagles except for picking up three half eagles. If you have been following the collection the past 3-4 years, you would know the D.L. Hansen has the finest collection of Liberty Head Double Eagles that has ever been assembled. Using the purchase of the AWA Collection as a foundation, the Hansen Team has built a great set of gold double eagles. The Fairmont CBL sale offered 121 double eagles and not one of them would upgrade the Hansen Core Collection.
When the bidding stopped, the Hansen team had won 45 coins. There were 39 Liberty Head Double Eagles, three Saint-Gaudens and three Liberty Head Half Eagles. I sometimes wonder if coins as these are won by minimal fix bidding. Let’s take a close look are one of six Carson City Double Eagles purchased.
1885-CC Liberty Head Double Eagle, MS62 PCGS
Incredible Mint State 1885-CC Double Eagle, Two MS63 Finer
Expert David Akers comment: This date ranks in the top third of all Carson City Mint Double Eagles in terms of overall rarity. It is only a little less rare as a date than the 1878-CC and 1879-CC but it is decidedly more "common" than either in high grade, i.e. AU or Unc. When available, the 1885-CC is typically EF although a number of VF specimens also exist. AU's are also seen from time to time but in full mint state the 1885-CC is definitely rare. I have seen a few Unc-60 specimens as well as a couple of choice Unc. examples but I have never seen or heard of a real gem.
PCGG POP reports fourteen MS62 graded specimens with only two finer. The finer two coins are a pair of MS63. The only PCGS MS 63 specimen to appear in auction was also from the Fairmont Collection. The Hendricks Set specimen was sold earlier this year and realized an auction record of $264,000. The other MS63 has never seen the light of day, yet. Rusty Goe writes about the other specimen: "Before continuing our survey of sales of Mint State specimens, it is important to emphasize that sometime around 2001 to 2003 PCGS began listing an MS-63 submission event in its population census for 1885-CC double eagles. More recently NGC posted an MS-63 submission event in its census. Not one specimen has ever surfaced to corroborate either of these entries. Until one does, there is nothing really to say regarding a specimen of such magnitude other than such a piece would deserve special status in the Carson City double eagle series. If there is indeed a certified MS-63 example, it would shatter the price record by a country mile if it were to appear in an auction. It is unthinkable that two such MS-63 specimens could exist. One can only imagine what an MS-63 1885-CC double eagle would look like. It would likely intoxicate a person to view one -- a breathtaking experience indeed."
Hansen already had an 1885-CC MS62 Double Eagle that he purchased in early 2017 for his #1 Liberty Head set. This early specimen was purchase in a private transaction from Numismatic Financial Corporation. I traced the pedigree to the Renz Family Collection. I guess you cannot have too many 1885-CC MS62 Double Eagles. It going to be a tough decision on which coin will be used in the Core Collection.
This is the third 1885-CC Double Eagle that has been offered by Stacks Bowers in 2022. All three were from the Fairmont hoard. I did find a fourth that was offered in 2018. They appeared as following:
The big question that no one has answered yet… How many more are in the Fairmont hoard? The Stacks Bower cataloger offered no hints in this comment: Only 9,450 double eagles were coined at the Carson City Mint in 1885, by far the smallest production figure of any $20 from this facility during the 1880s. This is the final Carson City Mint double eagle coinage until 1889-CC; the frontier mint struck no coins of any denomination from 1886 to 1888. Writing in the excellent reference The Confident Carson City Coin Collector (2020), Rusty Goe accounts for just 20 to 25 Mint State coins among the 360 to 425 pieces believed extant in all grades. The finest example confirmed by the author is the marvelous Battle Born specimen in PCGS/CAC MS-62 that fetched $57,500 in our August 2012 sale of that collection. Our recent (Spring 2022 Auction) offering of the Fairmont's Collection Hendricks Set introduced an incredible PCGS/CAC MS-63 example to the market, which fetched a stunning $264,000. Its counterpart in the current Fairmont offering is also a newcomer to the market, and also solidly in the Condition Census for the issue. We expect it to see spirited bidding that will result in a strong price at the assigned grade level. We can only watch and see what 2023 and beyond have to offer.
The coin is described as: Simply put, this is one of the most significant Carson City Mint double eagle rarities that we have ever had the privilege of bringing to auction. It is a nearly Choice, visually appealing coin displaying a bold blend of honey-gold color and frosty mint luster. Sharply to fully struck with enhancing blushes of iridescent pinkish-apricot.
Provenance: A numismatic time capsule; plucked from circulation over 100 years ago and frozen in time in overseas bank vaults per Doug Winter; Winter 2022 Auction / Fairmont Collection -CBL Set, (Stacks-Bowers 11/2022), Lot 7378, Realized $72,000; D.L. Hansen Collection.
1885-CC Liberty Head Double Eagle, MS62 PCGS PCGS POP 14/2 Certification #45944750, PCGS #9004 PCGS Price Guide $115,000 / Realized $72,000 Ex: Fairmont Collection - CBL Set
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Winter 2022 Auctions (5 of 6) – Fairmont Collection (CBL Set) / Stacks Bowers (2 of 2)
The CBL Set of gold coins was another standout offering from the Fairmont Collection, comprising mostly complete runs of $5, $10, and $20 coins beginning in 1834. The CBL set realized over $3.7 million and offered such strong results as a PCGS MS60 1872-CC $20 that sold for $102,000 and a PCGS MS60 1878-CC $20 that earned $72,000. - PCGS News Release, November 18, 2022
In this second post highlighting the Fairmont Collection (CBL Set), we will explore the sale a little deeper. The Hansen Team did not purchase the CC Double Eagles mentioned in the PCGS press release. I featured the “Incredible 1885-CC Double Eagle” a couple days ago, but before we see another one, let’s review the sale a little deeper.
Last posting I referenced an article published Doug Winter on his website title: Has the Market Begun to Undervalue Fairmont Coins?. If you did not read my last post, it is recommend to so before continuing with this one. In that post, Mr. Winter commented: It is interesting to note the decreasing prices for many of the issues which were offered in each of these (Fairmont) sales in similar or virtually similar grades. A big uncertainly is what is left and are they mostly better or lower grades. This leads to some risk that Mr. Winter highlights. In doing so, he focused in closing comments on the Carson City Double Eagles.
Given the fact that certain CC double eagles are down at least 10-15% in November 2022 versus their levels earlier this year, I think the prices for the two scarcer dates cited above (1878-CC and 1891-CC) held the line reasonably well. The spectacular prices we saw in the “Hendricks” sale (April 2022) for common date CC double eagles in uncommon grades (MS63) are not likely to be matched any time soon (if ever). Mr. Hansen did not purchase the 1878-CC, nor did he purchase the 1891-CC. Mr. Winter concluded by commenting: I will add, in closing, that if I were a buyer of high-quality CC double eagles I’d would approach a coin like an 1883-CC in PCGS/CAC MS63 (to use a totally random example) with extreme caution as it is possible that others exist in this hoard. But I would have told you the exact same thing even before the Fairmont Hoard hit the market.
In the article, Mr. Winter used the 1869-S Double Eagle as an example of one more stable. Mr. Hansen purchased an 1869-S MS62, CAC, Cert #45944712, realizing $21,600. Mr. Winter wrote: This is a surprise to me. I would have guessed each offering would have seen a decline of at least 20% but the prices were fairly stable. Let’s conclude with a few Carson City double eagle issues. These are not as “hot” now as they were in 2021 and early 2022, but the Fairmont Hoard contained some outstanding examples of dates which are not typically seen in higher grades.
1869-S Double Eagle
April 2022, Lot 5411, PCGS MS62 CAC: $24,000
August 2022, Lot 3441, PCGS MS62 CAC: $22,800
November 2022, Lot 7340, PCGS MS62 CAC: $21,600
Let me conclude by saying in referring to the table of the 45 coins purchased, the total realized was $720,000. The current PCGS Value is $955,250. The result is 24.6% under the published value. Only 12 coins (26.7%) of the coins were CAC Approve. This is a little lower than desirable. Even though for the twelve CAC coins, they realized $195,480 with PCGS Price Guide at $252,750 (22.6%). There was not a significance difference seen between CAC and non-CACs. As for how the coins will be used in the core collection, if at all, we will need to watch and see.
1884-CC Liberty Head Double Eagle, MS63 PCGS
Attractive 1884-CC Double Eagle, Tied for Finest Known
Expert David Akers comment: Along with the 1875-CC and 1890-CC, the 1884-CC is one of the three most common Double Eagles from the Carson City Mint. It can easily be located in any circulated grade up to AU and average quality uncs are only moderately scarce. In addition to this observation, there have been several discoveries that has made the 1884-CC even more readily available, but maybe in in top condition. For example, Ron Guth indicated: The Saddle Ridge Hoard of gold coins, discovered in northern California in 2013, contained only two 1884-CC Double Eagles, a PCGS AU55 and a PCGS MS61. Neither example affected the PCGS CoinFacts Condition Census. The Fairmont hoard adds a slight different twist to the story of this coin. We will explore that a little deeper in this post.
PCGG POP reports ten MS63 graded specimens with none breaking through MS63 barrier. A PCGS MS63 has been in auction eleven times since November 1999. Of those eleven offerings, four have occurred in 2022 alone. Last auction appearance prior to 2022 was back in 2014 when a MS63 PCGS from The Charles G. Wright Family Collection was offered by Heritage. The coin realized $70,500 in 2014. In a Heritage cataloger comment: PCGS and NGC combined have certified only 14 examples in this grade (eight at PCGS and six at NGC), with none finer (6/14), and Garrett and Guth note that many of these still display distracting abrasions. I find this 2014 listing of eight PCGS MS63 interesting, because there is three new MS63 specimens that has shown up in 2022. It appear that one of the previous eight MS63 PCGS coins has been lost from the POP report.
Hansen already had an 1884-CC MS63, CAC Double Eagle that he purchased in the acquisition of the AWA Collection. I think this took place in 2016 or early 2017. The coin was from the Nevada Collection. According to the CAC Population Report, there are currently only four of the ten PCGS MS63 specimens that are carrying the sticker. The Hansen Collection now have two. If I would guess, I think the Ex: Nevada / AWA Collection would remain as the representative in the Core Collection.
This is the third 1884-CC Double Eagle that has been offered by Stacks Bowers in 2022. All three were from the Fairmont hoard. I did find a fourth that was offered in 2018. They appeared as following:
There appear to be a large difference in the price of the Fairmont MS63, CAC sold in April and the same grade and sticker sold in November. Doug Winter called this Fairmont Fatigue. It does create some so-call bargains, but until the hoard is concluded, we may not know for sure. The PCGS grade events are taking place just prior to the sales, so the POP reports do not show or give any clue of what’s coming. For example in the Fairmont - Hendricks sale, the PCGS Population was eight with none finer. Also, MS-63 also finest at NGC and the CAC Population was three. With the recent sale, the PCGS Population was ten with none finer. Also, MS-63 also finest at NGC and the CAC Population was four. Does that make any difference? We can only watch and see what 2023 and beyond. We may not have seen the best coins yet.
The coin is described as: A remarkably well preserved and attractive example of this popular Carson City Mint issue. Undeniably original surfaces are bathed in a blend of softly frosted luster and handsome golden-apricot color. Fully struck, aesthetically pleasing, and sure to sell for an exceptionally strong bid.
Provenance: A numismatic time capsule; plucked from circulation over 100 years ago and frozen in time in overseas bank vaults per Doug Winter; Winter 2022 Auction / Fairmont Collection - CBL Set, (Stacks-Bowers 11/2022), Lot 7376, Realized $55,200; D.L. Hansen Collection.
1884-CC Liberty Head Double Eagle, MS63 PCGS PCGS POP 10/0, CAC Approved Certification 45944748, PCGS #9001 PCGS Price Guide $100,000 / Realized $55,200 Ex: Fairmont Collection -CBL Set
Winter 2022 Auctions (6 of 6) – Rarities Night / Stacks Bowers
Over $23 Million Sold in the Stack’s Bowers Galleries Winter 2022 Auction - PCGS News Release, November 18, 2022
PCGS Post: Over $23 million in United States coins and banknotes was sold in the Stack’s Bowers Galleries Winter 2022 Showcase Auction, marking an incredibly successful close to the firm’s 2022 U.S. Showcase Auction season. Presented was an exciting array of Numismatic Americana, U.S. colonial and federal coinage, and physical Bitcoins and cryptocurrency, including several significant collections that represented the pinnacles of their respective categories.
From the Hansen Core Collection perspective, there were three “pinnacle” US coins events in the Stacks Bowers Winter 2022 Auctions. The Harvey B. Jacobson, Jr. Collection which I posted a three-part update. The Hansen Team purchased seven early eagles in this sale which only two was used in the Core Collection. Next, was Fairmont Collection (CBL Set) auction that the Hansen Team participated in and was successful in purchasing 45 coins, but none were used in the Core Collection. The third auction was Stack’s Bowers Rarities Night. I was only able to find three purchases from the sale and two were used in the Core Collection.
I thought Stacks Bowers - Session 5 - Rarities Night offered a few interesting coins. With only a meek 149 lots in this sale, I looked for any coins that would be additions or upgrades to the core sets and proofs. I found only six circulation strike coins that would improve the Core Collection. The Hansen Team won two of them. The first was the 1852-D MS62, Gold Dollar, PCGS POP 7/2. This coin made for a nice upgrade to Hansen’s MS61, POP 11/9. The second coin purchased was the 1859-D Medium D, MS62, Half Eagle, Pop 6/3. The coin replaces a MS61, Pop 5/9. I will feature the Half Eagle today. Three coins purchased:
I found only six proof coins that would improve the Hansen Collection. There is a large opportunity to expand the Eagle Proof set. The finest known 1861 Eagle was available, and Hansen Collection currently does not have an example. The 1874 Eagle Ex: Norweb was nice offering. There appear that a complete set of 1885 gold proof coins were offered on Rarities Night. The Hansen Proof Sets could use four of them at different levels of significance. The 1885 Eagle is missing in the Hansen Proof set. The set already has the 1885 Quarter Eagle, 1885 Half Eagle and 1885 Double Eagle, but upgrades were offered. In this sale, it appears either the Hansen Team were under-bidders on all the proofs or did not participate. We may never know.
If my count is correct, The Hansen Team purchased a total of about 55 coins in the 2022 winter auctions realizing just short of $1.4 Million. This resulted in about $30K per coin. If you had been keeping track, the most interesting point of this sale is only four coins were used in the Core Collection. In a sale that gave the Hansen Team an excellent opportunity to take a breath and wait on the sidelines for the upcoming FUN Show in January 2023, they selected not to. We will finish up the 2022 Winter Auctions with a half eagle that does improve the Core Collection.
1859-D Liberty Head Half Eagle, Medium D, PCGS MS-62, Ex: Augustana Collection
Boldly Struck Mint State 1859-D Half Eagle
Expert Doug Winter comments: The 1859-D has the second lowest mintage figure in the entire twenty four year history of the Dahlonega half eagle series. It is nearly identical in overall rarity to the 1858-D but it is rarer in high grades. The 1859-D half eagle is usually found in Extremely Fine grades. It becomes rare in About Uncirculated-50 and it is very rare in the higher About Uncirculated grades. In full Mint State, the 1859-D half eagle is extremely rare. The 1859-D half eagle invariably shows weakness at the centers. On the obverse, the curls at the face and below the ear of Liberty are weak, as is the back of the neck which can be so flat that this is confused for wear. The first three or four stars may show weakness but they become stronger towards the final few. The reverse is better struck but it is often somewhat weak on the shield, the eagle’s legs and the top of the claws. The milling on both sides is sharp. Every known example has rounded rims with a beveled appearance.
In other expert comments, David Akers wrote decades ago: The 1859-D has the second lowest mintage of any Dahlonega Mint Half Eagle yet surprisingly, it has appeared at auction more often than some dates with much higher mintages. It is also more often available in AU or Unc grades than many other D Mint issues and I have seen several very choice mint state pieces. However, the 1859-D still must be considered to be rare in all grades and very rare in uncirculated condition. All specimens I have seen are rather weakly struck on the hair curls around the face and on parts of the eagle. The rims are well rounded.
Another researcher, Gordon Wrubel commented in Quickfinder Notes: The easiest way to determine the Medium D is that it appears to be WIDER than it is Tall. It is placed horizontally under the eagle away from the feather and stem. It is spaced well above Five D. The Large D appears TALLER than it is WIDE. The D is tilted up with its left top very close to the arrow feather. The Medium D is far more common with several Mint State examples graded. The Large D is rare. As Doug Winter points out, the Harry Bass II, lot 1117 coin "appears" to be the discovery specimen. Only a few specimens have been graded so far and none in Mint State.
After 35+ years of third-party grading, with a little grade-inflation, plus new discoveries, the numbers for mint state specimens in now better known. Currently, CoinFacts rarity and survival estimate is 165 in all grades with only nine MS60 or Better. CoinFacts does not believe any mint state GEM MS65, or better specimens survived. How does the estimate and POP reports compare?
PCGS POP reports fourteen mint state graded specimens, including five MS61 and six MS62. There are three choice uncirculated including two MS63 and the sole finest MS64. The John Jay Pittman coin hold the auction record of $60,500 set during a David Akers Auction dating back to October 1997. The uncertified coin was given a MS63 grade. The coin is an Ex. Melish; Kosoff (1956) specimen that is currently consider the finest known and presently resides in the sole finest PCGS holder, MS64. Then comes the pair on PCGS MS63. The first is the PCGS MS63 Chestatee specimen was offered as lot 7700 and it realized $17,250 in a Heritage 1999 sale. The other MS63 is the Duke's Creek Specimen was offered as lot 1062 and it realized $27,600 in Heritage 2004 sale. Then comes a group of six PCGS MS62 including two coins sold in 2022 including Fairmont specimen and the Augustana specimen purchased in the Winter 2022 Auction by D.L. Hansen.
According to the most recent CAC report, the John Jay Pittman is not CAC approved. One of the MS63 coins is approved, but I am not sure if it is the Chestatee or Duke's Creek specimen. There is only one of the six MS62 coins that have been CAC approved and that honor goes to The Fairmont Collection - Hendricks Set specimen that sold 4/2022 realizing $50,400. I believe this leave the new Hansen/Augustana MS62 specimen tied for fifth with several other PCGS and NGC certified specimens.
Unbelievably, there have been five 1859-D Liberty Head Half Eagle, Medium D PCGS Specimens graded AU55 or better have been sold by Stack’s Bowers Galleries in 2022. There was one AU58 NGC sold in 2022 by Heritage. In the five years prior (2017-2021) only seven AU55 or better was sold by all auction companies. Let’s take a closer look at the 2022 Stacks Bowers sales.
These are the five 1859-D Liberty Head, Medium D, Half Eagles that have been offered by Stacks Bowers in 2022. There were three from the Fairmont hoard.
1859-D Med D, MS62 PCGS, CAC, Ex: Fairmont - Hendrick (Stack's Bowers 4/2022), Realized $50,400.
1859-D Med D, AU55+ PCGS, Ex: Fairmont - JBR Set (Stack's Bowers 8/2022), Realized $7,800.
1859-D Med D, MS61 PCGS, Ex: Blue Moon (Stack's Bowers 8/2022), Realized $22,800.
1859-D Med D, AU55 PCGS, Ex: Fairmont - CBL Set (Stack's Bowers 11/2022), Realized $6,600.
1859-D Med D, MS62 PCGS, Ex: Augustana (Stack's Bowers 11/2022), Realized $38,400.
This is the second 1859-D Med D, Half Eagle that Mr. Hansen have purchased in 2022. The first purchase was the MS61 PCGS from the 8/2022 Stack's Bowers sale of the Blue Moon Collection. The Hansen Team continues its quest to make the Liberty Head Quarter Eagles as good as possible and is not shy to replace coins from recent purchases. When you have the 1854-S AU58+, Ex: Pogue / Boyd / Eliasberg specimen as center piece of a 220-piece set, the other 219 coins should be great supporting casts. Currently, 185 of 220 (84%) coins are PCGS POP Top Five.
Provenance: November 2015 Baltimore (Stacks Bowers 11/2015), lot 20116, realized $15,275; Augustana Collection / The Winter 2022 Auction - Rarities Night (Stacks Bowers 11/2022), lot 5089, realized $38,400; D.L. Hansen Collection.
1859-D Liberty Head Half Eagle, Medium D, PCGS MS-62 PCGS POP 6/3 Certification # #25683903, PCGS #8282 PCGS Price Guide $50,000 / Realized $38,400 Ex: Augustana Collection
It may have been over a year since I last mentioned Paradime Coins. Recently, I posted a series of feature postings on David Lawrence Rare Coins and Rare Coin Wholesalers, but a point to be made, Mr. Hansen don’t just buy from the big boys. He is looking for coins that are available to buy, that will improve his collection, and that are being offered at fair prices. We have heard this stated from John Brush more than once. As I have wrote before, it is nice to see a small coin company, i.e., Paradime Coins that can acquire nice coins. It is not easy to find coins that will improve the Hansen Core Collection at a fair price. It is major achievement when small company can offer a coin to the collection. I think Shannon at Paradime Coins have found that niche. They have done it more than once.
As stated earlier, it has been a more than a year since we saw our last upgrade from Paradime Coins, let me give a quick recap of who they are: Paradime Coins is an online company located in Las Vegas, NV. The company is owned and operated by Shannon Rajkitkul, aka @SSR, one of our community members. The company website describes the company as: Top Coin Dealer ecommerce store that sells certified Rare U.S coins for sale. We specialize in the finest PCGS, CAC certified Numismatic coins including gold and silver and are members of PCGS, CAC, NGC, LSCC, EAC, ANA & ICTA. The site goes on to say their specialty is: We specialize in top pops, finest known, low survival rate U.S coins, conditional rarities, low cac pops, key dates and coins that have high eye appeal, whilst being certified by PCGS with CAC approval. This is not the first coin that I posted from this company. I wrote this in 2021.
Without researching, I believe Shannon has been successful in placing about a half dozen high grade, low pop PCGS specimens in the Hansen Core Collection. I am not sure how the dynamics work in the transaction between Paradime Coins and The Hansen Team. Does Shannon find a coin and makes an offer to the Hansen Team or do the Hansen Team find the coin listed on one of the online sites that Paradime Coins post their available coins? In this particular case, I found the coin offered on the Paradime Coins company website as well as eBay. Who found who I guess in not important. What matters the most, is this coin is now an important piece in the D.L. Hansen Core Collection of US Issues.
1876 Liberty Head Quarter Eagle, PCGS MS-64, Ex: Harwell / Buxton Specimen
Low Mintage of Only 4,176 Business Strikes
Expert David Akers comment: A look at the auction data from our 226 catalogue auction survey may surprise some people. There is only one auction record for this date in uncirculated condition, making the 1876 one of the rarest dates in the entire series in mint state. I have seen only one strictly uncirculated 1876, and that piece was softly struck, both on the obverse and reverse, much like many of the early S Mint quarter eagles. Most other business strikes I've seen, however, have been fairly well struck.
The 1876 Liberty Quarter Eagle reports a mintage of 4,170. CoinFacts Rarity and Survival Estimate is 300 for all grades, including 14 believed to be MS60 or better. There are no solid recognizable GEMs at this time. The Garrett Specimen once sold as a MS65 uncertified and there a MS65 NGC that has not sold as MS65 to date. The PCGS reports 16 coins graded from MS60 to MS62+. It is difficult for me to believe that to be true. Also, PCGS currently has four examples graded choice of better, 1-63 and 3-MS64. The NGC reports 19 coins graded from MS60 to MS62+. Again, that seems very high to me. NGC currently has three examples graded choice of better, 2-MS64 and 1-MS65. With CoinFacts placing the Rarity and Survival Estimate at 14 MS60 or better, the two leading grading companies have 42 in their combine POP reports. Someone has their numbers wrong.
As stated, there are three PCGS MS64 PCGS specimens listed in the population report with only one appearing in auction. Legend’s cataloger wrote in the Regency Auction 46 (7/2021) in the sale of a PCGS MS63 specimen: PCGS has graded two finer, the last one to sell was in the October 1999 Bass Part II sale. These are RARE and RARELY encountered. In 2021, the Hansen Specimen was still residing in an NGC holder.
Assuming Garrett / Bass Specimen is the top MS64 PCGS due to fact that the coin sold as a GEM uncertified MS65 in 1980, the other two MS64 specimens in the PCGS Pop Report are the Neebee and Hansen Specimens with both currently in PCGS Registry Sets. For the Neebee MS64 PCGS, CAC Specimen, I would rank CC#2 on my list due to the CAC Approval sticker. This would place the Hansen MS64 that was recently crossed from a MS64 NGC holder as CC#3. I am dropping the NGC MS65 Specimen (assuming is still active) to CC#4 due to the coin did not sell as a NGC MS65 and has not resurfaced after more than 11 years. The last PCGS choice BU coin would be the Twelve Oaks MS63 Specimen that reappeared in a 2021 Legend Auction that I would rank as CC#5.
The three NGC coins is a different story that is hidden in mystery. In the census report, there are two MS64 and a MS65. I cannot verify any of them at this time, although I placed the MS65 specimen as CC#4 on my list. If the two MS64 do exist, I would place them #6 and #7. The only other coin that has appeared is the so-called Farrington Collection Specimen. This MS63 PCGS specimen is another mystery. With the aid of Ron Guth at the Numismatic Detective Agency, I developed a roster of 1876 Liberty Quarter Eagles. Thanks Ron, you are the best of the best.
1876 Liberty Quarter Eagle Condition Census Roster
1) Garrett / Bass Specimen, MS64 PCGS - William F. Dunham Collection; (B. Max Mehl 6/1941), lot 1975, realized $11; Garrett Collection Part 2 (Bowers & Ruddy 3/1980 as MS65 Uncertified), lot 770, realized $18,000 (Auction Record). Harry W. Bass, Jr. II (Bowers & Merena 10/1999) lot 589, realized $10,925.
2) Nerbee Specimen, MS64 PCGS, CAC, Cert #40193308 - Ex: Pedigree Unknown, currently in Neebee PCGS Registry Set.
4) NGC MS65 Specimen - Chicago ANA (Stack's Bowers 8/2011), lot 7618 not sold
5) Twelve Oaks Specimen, MS63, PCGS Cert #04716055 - The Twelve Oaks Collection / Signature Auction (Heritage 9/2016), lot 13982, realized $8,812.50; The Regency Auction 46 (Legend 7/2021) lot 239, $10,868.75.
Additional Specimen
Farrington Collection Specimen, MS63 PCGS - sold in Superior Galleries Auction 5/1995. The coin is not currently in PCGS POP Report. This coin remains a mystery at this time. With Ron Guth assistance, he stated: I don’t have any further information except to say that it is not from the Farrington Collection. The Farrington Collection was the Half Dollars that were a part of the same sale. I don’t believe the coin is currently in the a PCGS holder. The PCGS POP reports do not have room for it. I think it is most likely same coin as one of the above coins, but I am just not able to confirm a link.
Heritage cataloger commentary from the 1/2022 sale of the Hansen coin: Just 4,176 business strikes were minted, and that production ranks as the fifth-lowest mintage of any quarter eagle struck in the 1870s. Although often overshadowed by the 1875 rarity, the 1876 is an important date and, when found at all, is found in lower grades. It is hard to emphasize clearly enough the importance of this issue. This near-Gem is fully brilliant with intense orange-gold luster and satiny surfaces. Only a few trivial marks on the obverse prevent an even higher grade.
From Paradime Coins Website: Tied For Finest. PCGS 3/0. Uber low mintage rarity of just 4,170 pieces struck. Today there are 300 in all grades, which is high considering PCGS has graded about 100 and NGC about half that. Regardless of the number of survivors this date is rare in all grades and this coin is the finest. PCGS plate coin with only one auction comp 23 years ago from the Harry W Bass sale where one sold for $10,925. With a PCGS Price Guide today of $17,500 and demand for the finest being high, coupled with attractive Honey-Comb patina with hints of fiery red between devices, this original coin should be considered. No PCGS has sold in recent years except for a lower graded MS63 that sold for $10,869. You might have to wait for another 23 years to acquire the finest 1876 $2.5.
The coin replaces Hansen’s MS62+ CAC, POP 1/ 4 purchased in a 2017 Heritage Auction. The team continues its quest to make the Liberty Head Quarter Eagles as good as possible. Maybe one day, the Liberty Head Quarter Eagles will be as good as big sister Hansen/AWA Double Eagles. The big difference is that the quarter eagles are being built one coin at a time.
Provenance: Pre-Long Beach (Superior Galleries 9/2003) lot 2886, realized $10,925; Horseshoe Collection / Boston Rarities, (Bowers & Merena 8/2010 as MS64 NGC Cert # 1657540-007), lot 1568, realized $9,775; Stamford Coinfest Signature US Coin Auction (Heritage 10/2010), lot 4644, realized $10,925; The Reverend Paul L. Harwell Collection / Baltimore Auction (Stacks Bowers 6/2012), lot 4195, realized $9,987.50; US Coins Signature Auction (Heritage 9/2012), Lot 4796, realized $9,400; The Buxton Collection / FUN U.S. Coins Signature Auction (Heritage 1/2022), lot 3915, realized $12,000; Purchase in Private Transaction from Paradime Coins as MS64 PCGS Cert# 43830130, D.L. Hansen Collection.
1876 Liberty Head Quarter Eagle, PCGS MS-64 PCGS POP 3/0 Certification #43830130, PCGS #7824 PCGS Price Guide $17,500.00 / Ask $24,000 (eBay listings) Ex: Harwell / Buxton Specimen
Dahlonega Gold Set with Major Varieties, Circulation Strikes (1838-1861)
This is one of the most historic of all coin sets, covering the Trail of Tears through the early days of the Civil War when Rebel forces captured the Dahlonega Mint. The gold dollar set features the 1861-D, a rarity with an unknown mintage that was struck after the Confederacy took charge of the Mint. The quarter eagles include the ultra-rare 1856-D, with only 874 pieces struck. The $3 gold piece of 1854-D is the only Dahlonega Mint $3 issued. The $5 pieces are rounded out by the classic 1861-D. Everything is here to remind us of an era that is gone forever. Magnificent rarities and a huge and passionate collector base add up to a great set. - PCGS Set Registry
Living in the south all my life, the southern mints always had a special meaning, especially the two gold only mints. The Charlotte, NC mint which is much closer and in my home state, and the Dahlonega, Ga mint which is a couple states way were both closed in 1861 due the Civil War. They were never to be reopen. I don’t know how many times that I have posted or mentioned the Dahlonega mint, but I would guess 50 to 60 times. The last posting was very recently, September 18, 2022, with a series of Georgia Gold Rush Collection of Dahlonega Coins updates. Hansen purchased several very nice and key Dahlonega Mint coins in Gold Rush sale.
The small set required only 70 coins when including the expanded Dahlonega Major Varieties Gold. In the Hansen Collection, this is a faux set. The Dahlonega coins are sprinkled in several of the Hansen Core Sets, starting with 13 coins in the Gold One Dollar set. The top one-dollar coin is the 1861-D MS64+ PCGS POP 1/0 with a PCGS Price Guide Value of $250,000.
There was only one Classic Head quarter eagle struck at the Dahlonega Mint dated 1839-D. The Hansen Specimen is a MS64 PCGS, CAC specimen POP 3/0 valued at $175,000. The Liberty Quarter Eagle set started with the 1840-D and ending with 1859-D. This run consisted with 23 coins with no substantial highlights.
Next comes the only three-dollar gold piece struck at the Dahlonega mint dated 1854-D. The Hansen specimen is the MS62 PCGS, CAC, sole finest POP 1/0. This Ex: Milas / Pogue Specimen was purchased by the Hansen Team in the Stacks Bowers, 8/2022 sale of the Georgia Gold Rush Collection. The coin realized $528,000.
The first half eagle coin struck at the Dahlonega Mint and the only Classic Head half eagle produced was the 1838-D. The Hansen Specimen is MS63 PCGS, CAC with POP of 2/0. This is another Brett Pogue specimen that Mr. Hansen purchased from the amazing Georgia Gold Rush sale. The coin realized $228,000. The coin has provenance to the Duke's Creek Collection.
The first Liberty Head half eagle produced at the Dahlonega Mint was the 1839-D. The Hansen Specimen is MS62 PCGS, CAC with POP of 2/0. The coin is from the Chestatee Collection which is the duplicate coin from the Duke's Creek Collection. The coin also was in the Green Pond Collection before ending as a highlight in the Georgia Gold Rush sale. The coin realized $252,000.
The bulk of the Dahlonega Mint 70-piece set is the 34-coin run of Liberty Head half eagles. The half eagles run is bookend with two great coins, starting with the previously mentioned 1839-D MS62 PCGS, CAC with POP of 2/0 specimen. At the end of the run, you will find a truly amazing 1861-D MS63 POP 4/0. This coin is a third amazing coin from the Georgia Gold Rush Collections that traced to Farouk / Norweb / Bass / Green Pond Collections. This coin realized $336,000.
The small set is full of highlights including seven six-figure coins. Currently, this difficult set contains only two coins that are graded below AU. They are 1842-D Half Eagle, “Large Date”, XF40 PCGS and the 1841-D Half Eagle, “Tall D”, XF40 PCGS. The Hansen Team is working hard to get the faux set as good as possible. In recent upgrades, six coins have been replaced. I would say, keep watching because I am sure there is a little room for more upgrades. Here is a look at the half dozen of recent purchased coins:
1850-D Liberty Head Half Eagle, PCGS MS60, Ex: Chesatee Collection (The Duke’s Creek Collection Duplicate)
Expert David Akers: As was the case with the 1850-C, the mintmark on the 1850-D is quite often so weak as to be visible only on close inspection. This date is a major rarity in grades above EF and it is actually quite rare just as a date. I have never seen a specimen that graded full AU. The 1850-D, along with the 1849-D, is quite possibly the most underrated D Mint Half Eagle in high grade after the 1842-D Large Date, Large Letters.
In a more recent commentary, expert Doug Winter wrote on the PCGS CoinFacts website: Although most people are not aware of this, the 1850-D is among the rarest Dahlonega half eagles in terms of its overall and high-grade rarity levels. The 1850-D is a scarce date in all grades. It is most often seen in Very Fine and Extremely Fine. It is rare in accurately graded About Uncirculated-50 and it becomes very rare in any level of About Uncirculated higher than this. The 1850-D half eagle is exceedingly rare in Mint State with just one to three coins currently known to exist. The date shows a below average strike, especially in comparison to some of the preceding Dahlonega half eagles. The obverse has a soft appearance. This lack of detail is most noticeable on the hair below BERT in LIBERTY, the hair at the top of Liberty’s head and at the first four or five stars. The reverse has a sharper strike but it is always weak on the neck of the eagle, both legs and the arrow feathers. Most examples have a weak mintmark and on some it is so weak that it is nearly invisible. Pieces which show a well-defined mintmark are very rare and much more desirable than those with a weak “D.”
PCGS CoinFacts gives the survival estimate to be 175 coins in all grades with estimated survive in mint state of only one. We know this is probably not correct. PCGS has graded one MS60 and four MS61 with no mint state PCGS being CAC Approved. The top CAC PCGS coins are a graded pair of AU58 specimens. NGC has graded only four mint state specimens with all four certified as MS61. With the total mint state population from PCGS and NGC combined as nine specimens, I suspect this to be a little high.
In Stacks Bowers March 2018 sale of the Vanderbilt Collection, the cataloger offered a very short list of only three MS61 specimens graded by PCGS. The cataloger wrote: Although not widely recognized as such, the 1850-D is one of the rarest Dahlongea Mint fives. Survivors from a mintage of 43,984 pieces are scarce even in circulated grades, while in Mint State this issue is exceedingly rare and seldom offered. The three finest examples cataloged by Stacks Bowers and have been certified MS-61 by PCGS are the first three on my list:
1) A.J. Vanderbilt Specimen, MS61 PCGS, Cert # 34205676 - Edward Milas Collection of Liberty Head No Motto Half Eagles, (Stack's, 5/1995, lot 480; realized $29,150 (Auction Record). A.J. Vanderbilt Collection, (Stacks Bowers, 3/2018), lot 10340, realized $22,800.
2) Bass Specimen, MS61 PCGS - N.K.S., July 26, 1967; Harry Bass Collection (Bowers and Merena, 10/99), lot 1017, realized $13,800; Robert Hughes; Steve Contursi; Hancock and Harwell; Green Pond Collection; (FUN) Signature Sale (Heritage, 1/2004), lot #1053, realized $20,700.
3) Duke's Creek Specimen, MS61 PCGS - Pre-Long Beach, (Superior, 9/1998), lot 2043, realized $21,850; Hancock and Harwell; Duke's Creek Collection.
4) Hansen Specimen, MS60 PCGS - See Provenance below.
5) NGS Specimen, MS61 NGC, Cert 3172516-002 - Sunday Internet Coin Auction, (Heritage 3/2009), lot 62474, realized $18,400.
On the online listing for the coin, Doug Winter website described the coin as: RARE PCGS MS60 1850-D $5.00, ex Chesatee Collection. The listing does a great job of adding some commentary content: The 1850-D is a much scarcer Dahlonega half eagle which is especially difficult to locate in higher grades. Properly graded AU55 and AU58 examples are very scarce, and in Uncirculated this is a genuinely rare coin with just three to five currently known. I am aware of this one coin graded MS60 by PCGS as well as two distinct coins in PCGS MS61. The Duke’s Creek coin grades MS61 according to NGC and it was earlier graded the same at PCGS. I don’t consider any of these coins to be “choice” and probably the most aesthetically pleasing example I can recall seeing is the nice PCGS/CAC AU58 which brought a strong $21,600 as Fairmont/”Hendricks:” 5057 in April of this year. For some reason, Mr. Winter makes no mention of the third or fourth MS61 specimens, with first being the Bass Specimen / Green Pond specimen. Is it the same as the Duke's Creek?
He describes the coin as: The present example is a legitimately “new” coin which lacks any obvious wear or friction, but which has busy fields, as is seen on virtually every 1850-D $5; even the higher-grade ones. The strike is as sharp as on any 1850-D half eagle that I have seen with a fully impressed mintmark (on most 1850-D half eagles the mintmark is weak and there are even examples on which the D is virtually illegible). Both sides show orange-gold color which is most notable at the obverse border from 2:00 to around 7:00. The overall eye appeal is better than expected for the grade and as I mentioned above, none of the coins graded MS61 for this date are especially nice. This exact coin is the sole 1850-D half eagle graded MS60 to ever sell at auction and this occurred over 20 years ago. In March 2018, Stack’s Bowers sold a PCGS MS61 for $22,800 which was a touch nicer than the Auraria coin.
By PCGS POP Report, the PCGS CC#6 coin is the AU58+, with a PCGS POP of 1/5. Mr. Hansen owns this coin from a Heritage 10/2022 sale of the Northern Lights of Vermilion Collection, but I not sure when he acquired the coin. This MS60 purchase from Doug Winter resulted in a nice upgrade of this coin, bring it into the Top Five status with a good look. Due to fact, this could be one of those coins where the best coin may not be the most appealing specimen.
Provenance: Auraria Collection via DWN; ANA Auction (Heritage 8/1999), lot 7687, realized $23,000; Chesatee Collection (i.e., the Duke’s Creek Collection duplicates); Purchase in Private Transaction from Douglas Winter Numismatics, D.L. Hansen Collection.
1850-D Liberty Head Half Eagle, PCGS MS60 PCGS POP 1/4 Certification #45543988, PCGS 8245 PCGS Price Guide $35,000 / Ask $32,500 Chesatee Collection (The Duke’s Creek Collection Duplicate)
Simply put, we are the major player in the industry. - About Us, mintstategold.com
I wrote a few weeks ago on Barry Stuppler. As a recap, I wrote: It is common knowledge that Barry Stuppler was Hansen’s original dealer in 2016 which was Hansen’s first year. I would consider the center-piece eagle as the 1839/8 $10 “Type OF 1838” PCGS MS66, Cert #05368072. This seven-figure coin has been in the Hansen Collection about 5-6 years dating back to an early purchase from Barry Stuppler.
There are other important pieces in the Hansen Core Collection that was purchased from this dealer. Some prime examples would be a pair of Eliasberg Dollars including the 1883-S MS67+PL and the 1903-S MS67+ that was purchased in late 2020 with the partial sale of the Illinois Set. Hansen acquired his 1927-D Saint-Gaudens double eagle for Barry Stuppler back in the very early days of Mr. Hansen collecting in the mid-2016 timeframe. This MS63 PCGS specimen remains today as the only 1927-D Saint-Gaudens double eagle in The Collection. I am sure there are more remarkable coins that I am not recalling at this time.
In a brief bio from Mint State Gold Website, The Stuppler & Company Inc. is described as: The founders of Mint State Gold have been a part of this elite industry since 1960. Many of our clients are among the top tier collectors in the world of investment, numismatic, rare, and ultra-rare coins. Mint State Gold has helped assemble some of the world’s top-ranked collections and we’ve sold some of the most prized coins known – in both cases at values in the billions of dollars. Mint State Gold’s clients benefit from our expertise, vast experience, and long history of success. We’re supported by a network of the top clients, dealers, organizations, and resources in the industry. In the field, Mint State Gold by Stuppler is second to no one. What does this mean to the average investor and collector? Mint State Gold’s clients have the opportunity to be informed by the best. Whatever your investment level or experience, you will learn. For us, communication is key and symbiotic: It advantages both dealer and client. We’re able to advise clients with strategies to best serve their budget and investment goals for the medium and long term. Mint State Gold will also make recommendations of what to buy and – importantly – what not to buy. Our mission is to strengthen and maximize their investments.
Certainly, this business model was a good fit of Mr. Hansen back in the early days of his collection. As time evolved, he built his own team of advisors and expects through his partnership with John Brush and David Lawrence Rare Coins. He still uses Mint State as a desirable source in the purchasing strategy. I do not know how many different dealers that Mr. Hansen and the Team have acquired coins from actively and inactively, but I am confident it is several hundred. Of all the dealers, Barry Stuppler - Mint State Gold will be remembered as one of the first, if not the very first dealer.
1901-S Liberty Head Eagle, PCGS MS67, Ex: Soluna Collection
Exceptional Type Coin
This exceptional type coin is not Mr. Hansen’s first MS67 for the Liberty $10, With Motto (1866-1907) type. In fact, this is his third. He is currently using a 1903-S MS67 in his type set. This new 1901-S MS67 is a great match for his third Liberty Head Eagle, which is the 1901. In a Heritage 2017 sale of the Hansen coin, the cataloger stated: This San Francisco Liberty ten is a stalwart choice for type collectors based on its high-quality production and lustrous, attractive color. With a mintage of more than 2.8 million pieces, it is one of the most available issues in the series. The present coin provides ample evidence of the popularity, with gleaming and frosty rich-gold color plus a sharp strike.
In the PCGS Auctions data, the first sale of a US $10 Liberty 1901-S MS67 coin was the uncertified example from the Eliasberg Gold Collection that was offered by Bowers & Ruddy in October,1982. The Eliasberg specimen realized $7,150. By auction data, the first certified MS67 specimen sold in August 1990 in a Stack' Auction. The coin was graded MS67 by Numismatic Certification Institute Coin Grading Service (NCI) and realized $11,000. The notes indicated the coin was graded MS67/67. They graded both sides if I recall. The first MS67 PCGS coin sold in a Heritage Auctions (Long Beach) in October 1995 and realized $18,700. There have not been a PCGS 1901-S MS67 specimen sold since this first and last in 1995 which is more than 27 years ago. The first MS67 NCG coin sold in a June 2000 Superior Galleries during a Pre-Long Beach Auction. The coin realized $10,350. In the period of the time between this sale in 2000 and today, NGC 1901-S MS67 specimens have been offered another 23 times, which is slightly more than once a year on average. A 1901-S Ten Dollar, MS67 ★ NGC holds the auction record from a 2017 Heritage sale. PCGS currently values the five PCGS specimens at $32,500.
Ron Gillio added: I believe there are as many as 200,000 1901-S $10 Liberties. I encountered this date on my first trip to Europe to buy coins in 1970. I went to Zurich with fellow coin dealers Mark Teller and Larry Hanks. The first coins we were shown at the bullion department of Credit Suisse was two 500 coin bags of brilliant uncirculated 1901-S $10 Liberties. That's all they were in those days...bullion coins. We told them we were looking for different dates and were then shown mixed date bags from which we picked Carson City mint coins and other rare dates. Unfortunately, the coins in Swiss banks are long gone and the coin departments are closed. But there were a lot of coins and we could have bought as many 1901-S $10 liberties as we could carry.
In addition to Ron Gillio comments, PCGS Founder and Coin Expert David Hall added a little more: The 1901-S is the most common $10 Liberty. Some experts feel as many as 200,000 still exist...and I agree with that estimate. Interestingly, about 90% of the survivors are uncirculated. These coins apparently didn't circulate much and were probably used for international banking and trade transactions as most of the survivors came from Swiss banks in the 1960s and 1970s when Swiss banks were the bullion traders and market-makers for the world. And that's what this coin was considered to be at the time...a bullion coin. Remember, at the time there were no American Gold Eagles, Canadian Maple Leafs, Chinese gold Pandas, or any of the other contemporary World bullion coin issues. And prior to 1975, the only "bullion" coins that were legal for American citizens to own were the Mexican 50 Pesos dated 1947 or prior, and the U.S. $20 and $10 gold pieces.
The US $10 Liberty 1901-S PCGS MS67 market has been dominated by NGC coins. NGC Census Detail indicates 24 graded MS67 including the sole finest MS67 ★ which hold the auction record. I know this number is high at least by one coin, because the Hansen PCGS specimen is still shown active as Cert #297695-011 in the report. The PCGS report has only five and the only one that I can confirm is the Hansen specimen.
As a NGC MS67, the Hansen coin appeared in two Heritage Auctions in 2017. The first was the sale of the Soluna Collection. The coin was recently offered on the Mint State Gold website by Barry Stuppler. The site described the coin offer as: Presenting a RARE 1901-S $10 Liberty Head that has graded an impressive MS67 by PCGS. A classic Gold Eagle for the true connoisseur, this Liberty is blazing with original mint luster across its golden surfaces. The devices are sharply defined and well contrasted with significant high-point detail throughout. The fields are satin-smooth and beam with glossy luster. This Gold Liberty is truly captivating with excellent.
The coin replaces a really nice 1901-S $10 MS66+ Cert #81338607. The core collection now has a solid PCGS Top Five specimen which continues to improve the Liberty Eagles in the core collection.
Provenance: The Soluna Collection / US Coins Signature Auction, (Heritage 1/2017 as NGC MS67, Cert #297695-011), January 4 - 9 FUN - Fort Lauderdale #1251 lot 5954, realized $22,325; CSNS US Coins Signature Auction, (Heritage 4/2017), lot 5444, realized $21,150; Purchase in Private Transaction from Mint State Gold as MS67 PCGS Cert #45691327, D.L. Hansen Collection.
1901-S Liberty Head Quarter Eagle, PCGS MS67 PCGS POP 5/0 Certification 45691327, PCGS #8749 PCGS Price Guide $32,500.00 / Unknown Ex: Soluna Collection
This is always an entertaining and educational thread. Some fantastic coins are the topic of this thread with lots of information about their attributes and history.
What would be interesting to learn is what level of involvement Mr. Hansen personally has in the search for and the acquisition of coins that become part of his collection.
I assume that for some areas of U.S. Coinage Mr. Hansen is very involved; and that for other areas (i.e. post 1933 US Coinage) Mr. Hansen is not very involved.
For example, for Jefferson nickels, both circulation strikes and proofs, does the Hansen search for these coins consist of Mr. Hansen delegating the search to others working with/for him with instructions to:
Find and acquire Top Pop coins that have positive eye appeal and minimal flaws; and
Do not spend more than X dollars on a purchase without obtaining advance approval to pay higher than X dollars.
I'm always agog when I see the condition rarities posted on this forum. Collectors like myself would likely never see many or perhaps any of these coins without travelling to a show or an auction preview, and even then would see comparatively few.
Thanks to all who take the trouble to post all the beautiful coins we enjoy vicariously on this forum.
Thank you again for this amazing thread. I'd be curious to know (this may have been covered already), as to why, for example, Dell Loy purchased 45 coins from the Fairmont Collection, using none for the core collection. How is he using these coins? Just to supplement his 2nd and 3rd sets? Also, when he upgrades his core collection, does he liquidate the replaced coin, relegate it to a lower set, or is it situational?
Lastly, and again, maybe this was covered recently, but how many openings does he have left in his core collection, and are there any upcoming auctions that have options to fill those holes.
Liberty Seated Dollars with Major Varieties, Proof (1836-1873)
Every numismatist in the world will get excited over this set! The Gobrecht dollars of 1836-39 begin the set, followed by the extremely rare early No Motto issues. It's not until 1858 that any date is seen with regularity. The "With Motto" issues begin in 1866 and they are much more collectible, but still a fun challenge. Oh, yes, don't forget the 1866 No Motto silver dollar, which is one of the rarest coins in the world! – PCGS Registry
I had thought Mr. Hansen and Team had forgotten about this set. The last update was 7/13/2022 when one coin was replaced. There have been some recently opportunities, including the October Heritage offering of The Perfection Collection of Proof Seated Liberty Dollars. Of the 22 lots offered in the sale, I think I remember finding seven that would upgrade the Hansen core collection. I am not sure if the Hansen Team bided on any of the lots, but if so, they were shut out.
The Hansen Collection does not have a bad set of Seated Liberty Proofs, but they are subpar in comparison to the Hansen collection other dollar sets. The chart below tells the story. In looking at percentage in PCGS Top Five, the Seated Liberty Proofs is a full 15% below the average for the proof dollars. When set is updated, this coin will help slightly. The set does have a strong showing of sole finest PCGS POP 1/0 specimens with six coin out of a set of 39. There are 15% sole finest specimens which compares real consistent with the overall collection.
The overall Silver Dollar Proof Collection is missing eight coins starting with the first coin required in the proof collection. The 1801 is needed in a four coin set of early proof dollars. It is tougher to acquire than the 1804 specimen. Scott Rubin wrote: Of the two (1801) coins known the estimated grades are Proof 63 and 64, yet only one is in true high grade collectible condition, since one of the two is struck on a planchet that has cracked almost in half. The Amon Carter specimen shows what appears to be a die break on the obverse central area of the bust up thru the B of Liberty to the rim, like wise what appears to be a break on the reverse from the central area of the shield down thru the Eagle's right leg (viewers left leg) to the rim is really a planchet break that is almost halfway thru the coin. This was discovered by Carl Carlson when he catalogued the coin for the Stack’s L.R. French, Jr. family collection. It is very rare this coin appears in auction. The last appearance was almost 40 years ago (1984) with the Amon G. Carter Jr. specimen that was offered by Stack’s. The prior auction would be almost 40 years earlier (1945) when Numismatic Gallery offered the World's Greatest Collection I (Boyd Specimen). If history repeats, one of the specimens would be due to reappear in 2024 -2025.
The Liberty set required 39 coins making for the largest proof silver dollar set. The Hansen set is missing four with three being key date coins. They are the 1839 Original, 1841 and 1848. The Hansen Collection currently have an 1839 restrike but is not allowed to use the coin in the PCGS Registry Proof set. I would think these coins are a goal for the Hansen Collection. The fourth is a unique for private collector’s major variety; the 1866 No Motto which by a PCGS quote is one of the rarest coins in the world. There are two known. The Willis DuPont PR65 Deep Cameo PCGS specimen was donated to the National Numismatic Collection at the Smithsonian Institution and forever off the market. The only example available to collectors is the Bob R. Simpson PR63+ PCGS, CAC specimen that was offered is auction in 4/2021. The coin realized $1,050,000. Many expects in the community view this coin as pattern rather that a US Mint Issue. I think this pattern controversy may have played into Mr. Hansen interest in the coin.
The Proof Trade Dollars is one of Dell Loy Hansen’s show sets. He built this set early and quickly especially after acquiring the Perfection Collection of Proof Trade Dollars. This 11 piece PCGS Hall of Fame set provided a foundation for a great registry set. With the help of John Brush (DLRC), he acquired the Dunham/Starr/Parinno 1884 PR67, CAC specimen. This was in early 2018 timeframe. The set was completed in January 2019 when purchasing the Eliasberg PR65+ Specimen in the Heritage FUN auction. The coin realized $3,960,000 which I think still stands today as the most Mr. Hansen paid in auction for one coin.
The Morgan Dollars in the proof collection is certainly a set under construction. Although cannot be used in the proof set, the work was started with the purchase of the Prooflike Basic set, Circulation Strikes that was assembled by Texascoins. The set was retired Jan 2017 and I believe Mr. Hansen purchased the set in mid-2018. The D. L. Hansen set is currently 2nd All Time Finest. This may have hindered priority on his proof Morgans. Now back to the proof set, the set has the GPA numbers to be #1 All –Time Finest, but is still missing one coin, 1878 7TF Reverse of 1879. The coin is the most difficult coin in the set to obtain and have not appeared in auction in the past 18 years. This is one to watch.
The two Peace Dollar proofs does not have a PCGS set. In my opinion, the pair is required in a complete collection of US Dollar Proofs. The D.L. Hansen Collection has the 1922 “Matte Finish - High Relief” graded PR66 PCGS, Cert #25229755. This is a beautiful coin. The collection does not have 1921 exceedingly rare matte proof with only five known. Of the five, two are out of private hands with one at the American Numismatic Society and the other at the Smithsonian. The Col. Green specimen which cannot be located, last appeared when B. Max Mehl offered in February 1947. Another possibility is the 1921 Satin. I will save the satin proof discussion for another day, other than to add, currently only PCGS certified 1921 Satin Finish Peace Proof is available on Rare Coin Wholesalers website.
I have included the Eisenhower Dollars being they are the last of the large diameter coins. Thirteen coins are required in the total set and the Hansen Collection has twelve. In 2018, Mr. Hansen purchased the 1971 Type 1 Reverse Silver, PR69DCAM, POP 3/0 from Justin Spivack, owner of Monster Coin. This purchased positioned the Hansen set tied for All-Time Registry Top spot with Mitch Spivack. The set contains all finest coins and at this time cannot improve more than it is today. The set can be tied for All-Finest but cannot lose its number one spot unless someone finds 1971 Type 1 Reverse Silver that will grade PR70DCAM. The thirteenth coin is not required in the registry set. The unique 1976 No S Type 2 - Silver Eisenhower Dollar is owned by Justin Spivack by gift from his father Mitch Spivack. Will Justin ever sale? There is an old saying: everything is for sale at the right price.
This is the complete rundown of the D.L. Hansen Collection of Silver Dollars Proofs. With 2022 coming to a conclusion, I doubt we will see one of the eight missing coins obtained in 2022. Anything is possible, especially with one setting on the self at Rare Coin Wholesalers. It only requires a $329,500 check and the collection would be down to seven remaining.
1867 Seated Liberty Dollar, PR66DCAM
Coin Expert Ron Guth Comments: The Proof 1867 Seated Liberty Silver Dollar is a scarce coin with a total mintage of only 625 Proofs. It's not the lowest figure for the With Motto series (that distinction belongs to the 1868, 1869, and 1873 -- all with 600 Proofs each). Nor does the 1867 have the highest Proof mintage (that honor is reserved for the 1870 with 1,000 Proofs). All of the dates in this series are priced similarly despite the differences in mintages, perhaps because the surviving populations of each date are nearly identical according to the PCGS Population Report. Thus, the 1867 Seated Dollar is considered a type coin in Proof condition, though the buyer gets a slightly better mintage. Over 10% of the Proofs certified by PCGS thus far (July 2012) are Cameo Proofs. Deep Cameo versions are rare, and they are usually impaired by hairlines from old cleanings. The best Proof 1867 Seated Dollars certified by PCGS include a single PR66+, four PR65CAMS, and a single PR66DCAM. When selecting a Proof 1867 Silver Dollar, look for a strong strike, surfaces that are as free as possible of hairlines and/or contact marks, strong cameo contrast (if it exists), and appealing, natural color.
The 1867 PR66DCAM specimen replaces the existing Hansen PR64CAM, POP 24/13. The coin that grades finer than the Hansen PR66DCAM, POP 3/3 is the PR66+ from the Perfection 11 Collection. Also, there is the Ex Simpson PR66+CAM in the Clay and Linda registry set. The finest graded is a sole finest PR67CAM that I was not able to quickly trace. The Hansen specimen is tied with two other coins as the finest PCGS graded DCAM. One being a specimen from the Warren Collection that sold in Heritage 5/2022 Central States US Coins Signature Auction realizing $38,400. The auction record for a DCAM is $43,700 realized in a 9/2003 Goldberg Auction for a PCGS PR66DCAM.
Provenance: Purchase in Private Transaction from Tangible Investments, D.L. Hansen Collection.
1867 Seated Liberty Dollar, PR66DCAM PCGS POP 3/3, Tied for Finest DCAM Certification #45314397, PCGS #97015 PCGS Price Guide $47,500 / Ask $52,500
Morgan Dollars with Major Varieties, Circulation Strikes (1878-1921)
What is it about Morgan silver dollars that brings out the demand for the best? Is it the romance of the Old West? Is it the memory of going to the bank to get a silver dollar to rattle around in your pocket? Is it the challenge of finding big, heavy coins that aren't peppered with marks and abrasions? Whatever the reasons, there have been some fantastic sets of Morgan dollars assembled in recent years, filled with coins of amazing quality and rarity. The rarest dates of the series in top condition include the 1884-S, 1886-O, 1889-CC, 1892-S, 1893-S, 1894-O, 1895-O, and 1896-O.– PCGS Registry
In the last posting, the discussion was on Proof Seated Liberty Dollars. This posting will be the Morgan Dollars with Major Varieties, Circulation Strikes (1878-1921). The Morgan Circulating Strike Dollars have really been a set in the core collection that have receive a lot of attention from Mr. Hansen and the Team. The work they have put into this set has continually moved it up in the PCGS set rankings. As seen on the screenshot below, the set is currently ranked #2 on the All-Time PCGS Finest Registry trailing only the Illinois Set. The Hansen and Illinois sets are tied in the PCGS Grade Point Average (GPA) raking at 66.02. The Hansen Set is trailing on overall ranking due to +13 bonus points for the Illinois set. This means the Hansen set need to upgrade seven coins to sole finest PCGS, or fourteen tied for finest, or a combination in between. The lead of +13 bonus points is fairly significant.
In November 2019, the Hansen core set had an ATF ranking of seven with GPA with bonus of 65.198. The set was a nice solid top ten registry set of Morgan Dollars. The work required to make any improvement is very hard. For Morgan Dollar collectors, you know collecting the condition census coins required in this set is very competitive. If you desire to be at the top in the pool, then you have to overcome great sets such as Jack Lee, Illinois, California, Coronet, Gold River and many others. This is not for the faint of heart. Now, fast forward three years and currently, the set has an ATF ranking of two with GPA with bonus of 66.46.
When retelling this story again, it really starts with the Stacks Bowers November 2020 Auction of The Larry H. Miller Collection of Morgan Dollars. Mr. Hansen purchased eight magnificent Morgan Dollars in the sale, paying approx. $3.6 Million with all coins going into the core collection. The lowest price that he paid was $66,000 for the 1886-S MS67, PCGS POP 5/0, CAC. The other seven coins all realized six figures, as shown below:
1895-S, MS67DMPL, POP 1/0, CAC, Cert #04884182, Realized $336,000, Ex: Jack Lee
1893-O, MS65DMPL, POP 1/1, CAC, Cert #04884185, Realized $360,000, Ex: Jack Lee
1892-S, MS68, POP 1/0, Cert #07455547, Realized $630,000, Ex: Jack Lee
1897-O, MS67, POP 2/0, Cert #05700150, Realized $348,000, Ex: Jack Lee
1895-O, MS67, POP 1/0, Cert #07455561, Realized $528,000, Ex: Wayne Miller/ Jack Lee
1884-S, MS68, POP 1/0, Cert #07455496, Realized $750,000, Ex: Chuck Walanka / Jack Lee
1893-S, MS65, POP 5/1, CAC, Cert #03134219, Realized $600,000, Ex: Larry H. Miller Collection
As we sometimes see, Mr. Hansen will follow-up a great purchase with a second punch. That is exactly what happened in late November 2020. The Illinois Morgan Collection was on the market. 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 them individually. Well, now Mr. Hansen’s second punch was the purchase of four of the PCGS POP 1/0 specimens.
1881 (4) MS67+, POP 1/0, Finest certified by PCGS
1883-S (7) MS67+PL, POP 1/0, Finest certified by PCGS
1898-O (1) MS68DMPL, POP 1/0, Finest certified by PCGS
1903-S (7) MS67+, POP 1/0, Finest certified by PCGS
These four upgrades provided enough of a bump, that the Hansen Collection hit #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 Morgan Dollars. It also represents a move to first place in the current rankings.
The second punch was really a combination, because he delivered another quick purchase of four additional Morgan Dollars a couple months later in January 2021. Three of the four coins were purchased from Barry Stuppler, (Illinois Collection). The other coin is from another source that Mr. Hansen frequently turns to, GreatCollections Auction. Here are the four 2021 upgrades and approximately when purchased.
GreatCollections Auction (1/24/2021)
1903-O, MS67+, CAC, POP 10/0, Tied Finest certified by PCGS
Barry Stuppler – Mint State Gold – Late January 2021
1878 7TF (Rev 79), MS67, POP 1/0, Finest certified by PCGS
1901 DDR, PCGS MS62, POP 3/1
1904-S, MS67 CAC, POP 2/0, Finest certified by PCGS
Mr. Hansen delivered couple addition punches in late May 2021. He picked a Morgan Dollar from Larry Shapiro Rare Coin. The 1883-O MS67+ CAC Approved (PCGS POP 20/1) coin is not that rare and expensive. The asked price on the website was $7,495. The coin sold in Heritage Central States US Coins Signature Auction in April 2021. Then, DLH purchased one additional coin from Barry Stuppler at Mint State Gold (MSG). The coin purchase was the 1894, MS65+ CAC (PCGS POP 6/6). The ask for the coin was $46,000. The coin replaced a MS64 with POP of 288/67. Then, a long wait before seeing any more action.
Fifteen months later and prior to the American Numismatic Association's World's Fair of Money in August 2022, John Brush on the behalf of the D.L. Hansen Collection purchased a large selection of Morgan Dollars from the Wurt Registry Set being offered by Shaun Bobb of Mike's Coin Chest. I am not certain the total that the Hansen team acquired, but it seems in the 23-24 piece range. I found a couple coins upgraded in #2 set, but the bulk were core set upgrades. Along with the five highlights below, there were 16 additional upgrades totaling 21 coins.
1880-O MS66 CAC, POP 2/0, “pop 1 CAC”, Obtained by D.L. Hansen, PCGS: $200,000
1886-O MS65 CAC, POP 6/2, Obtained by D.L. Hansen, PCGS: $285,000
1887-O MS66+PL CAC POP 2/0, Obtained by D.L. Hansen, PCGS: $100,000
1894 MS66+ “Pop 1/0”, Obtained by D.L. Hansen, PCGS: $200,000
1899-O (Micro O) MS66 CAC “Pop 1/0,” Obtained by D.L. Hansen, PCGS: $92,500
With these upgrades, the 117-piece Hansen Morgan set landed in the #2 All-Time spot behind Illinois Set. The most recent coin to be upgraded is also from the Wurt Collection. It may have been acquired in the August 2022 purchase or recently. It is the coin that enables the set to reach a tie in GPA with the top set.
1892 Morgan Dollar, MS66, CAC, Ex: Coronet / Wurt Collection
Premium Gem 1892 Morgan Dollar, MS66 PCGS
PCGS provides edited comments from Q. David Bowers which is from his "Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia": From the time of mintage through the early decades of the twentieth century, the 1892 was a major rarity. Very few had been released into circulation. However, Proofs were available readily enough, and they took care of the need to acquire a circulation strike of the date. This situation was true of such other Philadelphia Morgan dollar dates as 1894, 1897, and 1899, among others. The relatively few transactions involving Mint State 1892 dollars sold prior to 1940 did not take place at high prices. Accordingly, the erstwhile rarity of this date was not recognized until I researched the matter in connection with the present text. Large quantities of Mint State 1892 dollars were released by the Treasury in the late 1950s and early 1960s, before which time they were rare, as noted. By the late 1950s, they were very common. Harry J. Forman reported that Uncirculated 1892 dollars were second only to 1891 dollars from the standpoint of availability through Philadelphia banks at the time. However, by the time that the Treasury began emptying its vaults in earnest, circa 1962-1964, most 1892 dollars had already been paid out. The date was not well represented among later Treasury hoard coins.
PCGS CoinFacts gives the survival estimate at more than 100K in all grades and 88 survived in GEM MS65 or better. Oddly enough, PCGS has not graded specimens greater than MS66. The demand for Morgan Dollars are high. There are 359 PCGS MS65 GEM specimens and they have a PCGS Price Guide Value of $3,600. There are 82 PCGS MS65+ with value of $6,000. There are thirteen coins graded PCGS MS66 with none fine. There are only two of them that also carries the CAC sticker. The Hansen coin in one and I am not sure the collection the second CAC is located. The current auction record is $49,938. The record was achieved in a Legend Rare Coin Auction dated back in 2018 for a non-CAC.
Heritage Auction 8/2006 cataloger description for the Hansen MS66: Not only is this example tied for the finest certified, but it exhibits exceptional aesthetic appeal. Both sides are fully brilliant and highly lustrous with radiant mint frost. Although the hair above Liberty's ear is a trifle soft, it can be considered a full strike for the issue. Aside from a few scattered surface ticks on each side, the obverse and reverse are pristine.
I feel confident this coin was part of the original John Brush purchase from Mike's Coin Chest, although the coin is just making into the collection in the past few days. I am not sure why the delay. Was it out for reassessment? Was it lost or misplaced? For whatever the reason was, the MS66, CAC coin does make an excellent upgrade to the previous MS65DMPL. We will continue to watch and see if the set can overcome the top ranking Illinois Set. Could it be in 2023?
Provenance: Denver Platinum Night / Signature Auction (Heritage 8/2006 as MS66 PCGS Cert #06139833 ), Lot 5361, realized $24,150; PN Silver Dollar Session / FUN Auction (Heritage 1/2009), Lot 5007, realized $43,125; Coronet Collection / Regency XII Auction (Legend 6/2015 as MS66 PCGS Cert #28286112), Lot 58, realized $47,000; Wurt Collection (PCGS Set Registry); Prior American Numismatic Association's World's Fair of Money, David Lawrence acquired in offering by Mike's Coin Chest; D.L. Hansen Collection.
1892 Morgan Dollar, MS66, CAC Certification #25635871, PCGS #7212 PCGS POP 13/0, CAC POP 2/0 PCGS Price Guide $55,000.00 / CAC Price Guide $60,000 Ex: Coronet / Wurt Collection
I'd be curious to know - Hansen watch, PCGS U.S. Coin Forum, by Jersey Cat
I always appreciate questions and comments. This is one that got me not only thinking but also digging a little deeper for some clarity. I do not have very much inside information, I would say that 90-95% of what I write is based on my four and half years of observation and study of the collection. You could say that I have completed my ungraduated degree and working on my masters. Many times, over the years I have asked the question.. why. Sometimes I find will information that will satisfy my curiosity and sometimes not. Let’s look at the post.
@jerseycat101 said:
Thank you again for this amazing thread. I'd be curious to know (this may have been covered already), as to why, for example, Dell Loy purchased 45 coins from the Fairmont Collection, using none for the core collection. How is he using these coins? Just to supplement his 2nd and 3rd sets? Also, when he upgrades his core collection, does he liquidate the replaced coin, relegate it to a lower set, or is it situational?
. why, for example, Dell Loy purchased 45 coins from the Fairmont Collection, using none for the core collection.
The Liberty Head Double Eagles is a very interesting set from the standpoint that it has produced very few duplicates as compared to the most of sets on the core collection. In the future, finding a Hansen Double Eagle will be a rare find. The way I understand the Hansen story has been told, he started with “Building” a set of St. Gaudens Double Eagles. After or near completion, he started thinking about what would come next. It is my understanding, the AWA Liberty Head Double Eagles came on the market about that time, and he bought it. The story as told by Mr. Hansen himself.
“After I finished my Saint-Gaudens collection, I decided to expand into $20 Liberty pieces,” he says. “One of my larger purchases was the AWA Collection of $20 Liberty gold coins which was put together over a lifetime of collecting. Once that transaction was completed, I looked to see what else could I do.” After that, he set his sights on the one collector whose name has loomed large in numismatics for generations. “At that point, I kind of got a bug to pursue the PCGS Registry’s idea of the Eliasberg collection. But, instead of stopping at 1964 and simply competing with him, why not expand on it another 55 years and do something no one else has done?” Hansen wanted to push the envelope. “In my career, I enjoy doing things that no one else has considered doing and what some consider ‘impossible’. The paragraph is from Rare Coin Market Report (November-December 2019).
It appears early on (2016-2018), Mr. Hansen focus on was a collection a nice example of every US issue coin which is similar to Louis Eliasberg. That changed. Several months ago, I quoted Mr. Hansen from interview from a segment named “A Behind-the-Scenes Look at the Hansen Collection”. The interview was part of the 2022 Newman Numismatic Portal Symposium, and I noted Mr. Hansen statement: Probably in ‘19, I made the hard decision that I am really going to go for best in grade.. really going to start to scrutinize the top coins for each date and grade.. asserted effort to buy those coins and upgrade those coins. Did having a partner like John Brush and the DLRC Team play into that decision. I think they did.” This change in 2019 started to create massive duplicates and many of them he did not sell. The Hansen Team started #2 sets just to help keep track of the second-best coins.
How is he using these coins? Just to supplement his 2nd and 3rd sets?
I think – Yes. Over the past year or so, this second set has become more that just for keeping track of his coins. In other words, we are seeing coins purchased just to build and expand a second set. The recent Fairmont sale, I think what we saw helps prove that theory. By my account, the Hansen second set of US Mint Strike Issues (1892-Present) requires 4552 coins. The second set is now 75% complete. More amazingly, 540 of the coins missing are post 1965 which is about 50% of the missing coins, making his pre 1964 coins 80-85% complete.
When he upgrades his core collection, does he liquidate the replaced coin, relegate it to a lower set, or is it situational?
All of the above and more. You will see in the feature coin today, he liquidated the coin, and then purchased it back and placed the coin in the #2 set. It appear the decision to start a second set of Liberty Head Double Eagles has been only recently. With the purchased of the 39 Liberty Head Double Eagles from the recent Fairmont sale, you can see below a second set was published 11/12/2022 and nearly 50% complete. Three days later, he followed up by purchasing back one of the coins he sold a few years ago, and that coin will be featured today.
Several years ago, Expert David Akers wrote: Several substantial quantities of mint state 1867 Double Eagles were discovered in Europe in the 1960's and so the 1867 is relatively common in Unc. and is certainly one of the dates prior to 1873 most likely to be available in choice condition. These mint state "hoard" coins are characterized by attractive color (pink, green and copper) and excellent lustre. As many as several hundred uncs exist and although most are the typical bagmarked 60 quality, a number of them are choice or gem quality.
Years later, Ron Guth discovered: Though the 1867 $20 is available by the hundreds in Mint State, it rarely comes as nice as Akers suggested years ago. He wrote that a number of "choice or gem quality" examples existed, but they simply have not shown up yet -- certainly not at auction or in the population reports at PCGS or NGC. In fact, the best certified examples are a few pieces of MS63 quality. Thus, this date should now be considered under-rated in top condition.
It appears when Ron Guth wrote these comments, he may not be aware of the coin that David Lawrence Rare Coins describes as: The extraordinary MS66 piece. Also, the coin described by Heritage as: Unbelievable Condition, Finest Certified by Three Points. The coin is the Ex: Eric P. Newman Numismatic Education Society specimen that sold in an Eric P. Newman Collection Part V - US Coins Signature Auction held by Heritage Auctions, Nov 14, 2014. The amazing coin realized $258,500. This coin replaced a Hansen pedigree MS63 PCGS and certainly it was an incredible addition to the set. As great as the coin is, I have not featured it. At this point, I have not gone back and done any retro features. If I ever do, this coin would be a prime candidate.
PCGS CoinFacts gives the survival estimate to be 3212 coins in all grades with estimated survive in mint state as many as 312 coins. In grades MS choice or better, PCGS has certified five MS63 and no others except the Hansen/ Newman MS66. NGC has two MS63 and none finer except for the Hansen/ Newman MS66. The NGC MS66 should be removed for the POP report due to duplication. A total of seven MS63 specimens for both grading services could also have duplications. Amazingly, none of the MS63 specimens are CAC Approved. The only choice and better coin with the CAC Approval sticker is the Hansen/ Newman MS66.
The cataloger’s comments from The Northern Lights of Vermilion sale: The 1867 trades at only a small premium above melt in most circulated grades, but AU examples are scarce and Mint State pieces are predominantly in MS60 to MS62 grades. At the MS63 level, the issue emerges as a major conditional rarity, since the issue was struck too late to be included in the S.S. Republic, S.S. Brother Jonathan, or S.S. Central America. This lustrous and well-struck sun-gold specimen has a tick on the cheekbone, a slender line near obverse star 6, and a scuff on the field above the arrowheads. No other marks are worthy of comment.
“But there's always a first time for everything” - Blue Bloods by Melissa de la Cruz
I try to point out when I see something for the first time. This may not be the very first time it has happened, but it is the first time where I saw a Hansen pedigree coin sold from the core collection is later purchased to be placed back in the #2 set. I cannot discover any original sale information when David Lawrence sold the coin, but I do know the current coin in the core collection is a sole finest PCGS MS66 POP 1/0 purchased from Stuppler in late 2016.
This is what I do know from online data on the Hansen 1867 Double Eagles. In the lifetime of the collection, I believe there have been three of these coins. The first is the PCGS MS61 ex: Bass/AWA specimen that was included in the purchase of the AWA set. The coin was described as Beautiful prooflike surfaces with amazing eye appeal. It was sold in David Lawrence’s Internet Auction #1006 on Sunday, April 1, 2018, realizing $5,950. The certification number for this coin was 81722159 when in the Hansen Collection. Unfortunately, the coin has be recertified and has currently lost its provenance to Bass, AWA, and Hansen.
The coin that very briefly replaced the MS61 coin described as gorgeous MS63. The MS63 was purchased from one of Mr. Hansen’s early sources, Numismatic Financial Corporation, Inc. This coin appear to have been in the collection only a few months in late 2016. As stated, we do know the sole finest PCGS MS66 POP 1/0 was purchased in October 2016 and the MS63 was sold at some time after. I cannot find a record of the coin selling in auction, so we can assume it was sold in a private transaction by DLRC. The coin is pedigreed in the one of Hansen’s early Old Blue Holders (OBH). Recently, the coin was purchased in Heritage’s October 2022 Long Beach Expo US Coins Signature Auction of The Northern Lights of Vermilion Collection. It was purchased by David Lawrence Rare coins. The coin briefly appeared Oct 10, 2022 on DLRC website for sell. The Item Description: The primary collection holds the finest graded for the date, an extraordinary MS66 piece. The message currently is: This item is no longer available. After making a full circle, we now know that Mr. Hansen decided he wanted to bring this coin back home and found a place for it in his #2 set. As stated, this is the first coin that I have seen to have a second pedigree to the Hansen Collection.
Provenance: Purchase by D.L. Hansen in private transaction from Numismatic Financial Corporation, Inc.; D.L. Hansen Core Collection; presumably sold by David Lawrence Rare Coins; The Northern Lights of Vermilion Collection / Long Beach Expo US Coins Signature Auction of, (Heritage 10/2022), lot 3310, realized $27,600; Purchase by D.L. Hansen in private transaction from David Lawrence Rare Coins; D.L. Hansen #2 Set of Liberty Head Double Eagles.
@Currin your previous post (2nd above) stated:
In the last posting, the discussion was on Proof Seated Liberty Dollars. This posting will be the Morgan Dollars with Major Varieties, Circulation Strikes (1878-1921). The Morgan Circulating Strike Dollars have really been a set in the core collection that have receive a lot of attention from Mr. Hansen and the Team. The work they have put into this set has continually moved it up in the PCGS set rankings. As seen on the screenshot below, the set is currently ranked #2 on the All-Time PCGS Finest Registry trailing only the Illinois Set. The Hansen and Illinois sets are tied in the PCGS Grade Point Average (GPA) raking at 66.02. The Hansen Set is trailing on overall ranking due to +13 bonus points for the Illinois set. This means the Hansen set need to upgrade seven coins to sole finest PCGS, or fourteen tied for finest, or a combination in between. The lead of +13 bonus points is fairly significant. https://us.v-cdn.net/6027503/uploads/editor/2v/lmqj1g99qupm.png
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The part about the bonus points and +13 is not correct. I will try to explain briefly (but it won't be) how this works but not sure I can or that it will come across clearly.
For each set there is a divisor. This can be found by clicking the 'Set Composition' button at the top of the main page of each set. The divisor is at the bottom. For this set the divisor is 540.
On this 'set composition' page it also shows the 'Weight' of each coin in the set on the far right. The divisor is the sum of all the individual coin 'Weight'.
The coin 'Weight' indicates how many times the individual coin counts in determining the set rating. A coin with a 'Weight' of 5 would be counted 5 times, a common coin with a 'Weight' of one only once and up to a 'Weight' of 10 where the coin would be counted 10 times.
Example with the above - Coin 1 MS64 weight 5 gets 320 points - Coin 2 MS68 weight 1 gets 68 points - Coin 3 MS62 weight 10 gets 620 points. Total set points 320 + 68 + 620 = 1008.
The divisor would be the sum of the Weights 5 + 1 + 10 = 16.
The set rating would be 1008 / 16 = 63.000
When Bonus points are added for Top Pop (+2) or Tied (+1), then that gets include into the coin grade and also multiplied by the Weight.
Example Coin 1 is tied for top pop and gets +1 additional grade points. Therefore 1 X 5 = 5 more points Or can do it from the grade and MS64 +1 = MS65 and weight 5 gets 325 points total for the coin.
This would bump the set with bonus points to 1008 + 5 = 1013 Or 325 + 68 + 620 = 1013.
The set rating with bonus points would be 1013 / 16 = 63.3125
Now to get back to the Hansen to Illinois set. Using the numbers quoted above of 66.59 and 66.46, what does the difference of 0.13 indicate?
First is the divisor for this set of 540. That means that a one (1) Weight coin with a grade increase of +1 (say 64 to 65) would increase the set rating by 1 / 540 = 0.001852 (rounded). This is because it would increase the total set points by 1 and then to get the set rating one would divide by the divisor of 540.
So to determine how many grade points 0.13 is for this set would need to divide by (1 / 540) or 0.001852 which is the amount 1 grade point is worth for a set rating or 0.13 / 0.001852 = 70 grade points (rounded). Grade points are the grade or the bonus points.
Example for the Hansen set. If the first coin 1878 8tf was upgraded from the MS66+ (66.5) to the Top Pop MS68, then the Hansen set would increase by +1.5 for the grade times the Weight of 5 = 7.5 grade points times the 0.001852 = 0.01389. So 66.02 + 0.01389 = 66.03389.
The set rating with bonus points would include both the grade increase and the +2 for Top Pop. So the +2 for top pop times the Weight of 5 times the 0.001852 = 0.01852. The set rating with bonus points would go up to 66..46 + 0.01389 + 0.01852 = 66.4924.
Note: if you click on the blue set rating it will list the set rating time line. Or if you hover the mouse over the blue it will show the current rating. Some sets (and as far as I have seen they are retired sets) don't agree with the set rating shown on the first page top 5 sets. The Illinois set is one. It is indicated to be 66.533 in both but the first page has the 66.59?
On this page for the Basic Morgan set this is true (bad) for both the Illinois set and the Coronet set. If you click on the blue number for the set rating it indicates they are number 3 and 2 for ATF because their set rating is lower than that of Jack Lee which on the first page is number 3 but a higher set rating. Don't know why these set rating numbers sometimes disagree with the first page.
‘’I have included the Eisenhower Dollars being they are the last of the large diameter coins. Thirteen coins are required in the total set and the Hansen Collection has twelve. In 2018, Mr. Hansen purchased the 1971 Type 1 Reverse Silver, PR69DCAM, POP 3/0 from Justin Spivack, owner of Monster Coin. This purchased positioned the Hansen set tied for All-Time Registry Top spot with Mitch Spivack. The set contains all finest coins and at this time cannot improve more than it is today. The set can be tied for All-Finest but cannot lose its number one spot unless someone finds 1971 Type 1 Reverse Silver that will grade PR70DCAM. The thirteenth coin is not required in the registry set. The unique 1976 No S Type 2 - Silver Eisenhower Dollar is owned by Justin Spivack by gift from his father Mitch Spivack. Will Justin ever sale? There is an old saying: everything is for sale at the right price.’’
Currin: Thank you for your continued enlightening discussion of all the various coin series tied to Mr. Hansen’s landmark collection. With respect to the Ike dollars - yes, we had no problem helping Mr. Hansen add the 1971 Type 1 Reverse Silver Finest known to his collection. We had 2 coins and we were fine letting one go at a very fair price. It wouldn’t surprise me if the 1971 Ty 1 coin (at the price we charged him) outperformed 90%+ of every coin ever purchased by Mr. Hansen for his great set. Mark my words on that. Also, I have not requested that the (currently) Unique Proof Ike Dollar be added to all the various Registry sets it can rightfully be added to. This is intended so collectors like Mr. Hansen and hundreds and hundreds of other collectors do not go from a 100% complete set to a set that can never be completed without the Unique Silver Ike. To date, the Unique Ike has only been included in the Top 100 Modern Coin set and a single set of Ikes; namely the Complete MS & Proof Ike set with major varieties (both of which I am personally ranked #1 in). Mr. Hansen will never possess a complete set of Proof Ike dollars including major varieties without this Unique Ike (the only Proof Silver Ty 2 Ike known that is dated for the Bi-Centennial year of our country). But, there are obviously other great coins he will never own as well. No one can own everything.
To correct your statement- the No S Ike is not owned by Justin and never has been. I had originally planned to gift it to Justin in my Trust with my daughter getting an equal value to the Ike from other sources. That became nearly impossible to do with the skyrocketing value of the Ike over the past roughly 20 years, and Justin was given a very special different coin as a gift a few years back. So, G-d willing, the No S Ike will be sold publicly in my lifetime and the proceeds received from the sale will benefit me, my wife, both children and whatever charity we donate some of the proceeds to.
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
Shield Two Cents with Major Varieties, Circulation Strikes (1864-1872)
PCGS Registry describes this set as: Here's a set that's short but filled with challenges. You'll be able to build more than half of the set in short order, but then comes the 1864 Small Motto, the 1872 and perhaps another date or two that's truly elusive. The Major Variety set adds two more coins to the Classic set: the 1867 Doubled Die Obverse and both the plain, and fancy "5" variety of the 1865. It's a unique denomination, a one-time design (although similar to the Shield nickel) and a beauty of a set when it's completed.
This is a series where the 10 coins that make up the D.L Hansen basic set. This core set is cooking. All the coins are at least PCGS condition census top five specimens. There are four of the ten that are PCGS sole finest POP 1/0 specimens. There are another four that are tied for finest PCGS certified. The other two coins: one is the 1865 MS66+ RD that has a condition census POP 22/4 and the second is 1866 MS66RD with POP 14/4.
The D.L. Hansen Collection has a solid representation on the PCGS Registry Shield Two Cents All-Time leaderboard with two sets, first as #1 and the second set as #5. It is unusual that all top five sets are current. You have to go down to number six spot to find the first retired set. Also, the Hansen Basic set is 100% Red. I would consider nice PCGS top five coins are suitable for the Hansen core sets, therefor there is not a weakness in the basic ten coins. The two major varieties are the weakest in the Hansen Collection of Shield Two Cents.
Fancy "5" variety of the 1865
Ron Guth describes how to identify this variety: Here's how to tell the difference between the Plain 5 and Fancy 5 1865 Two Cent pieces: Plain 5: the top edge of the 5 appears flat or slightly curved; Fancy 5: the right half of the top edge of the 5 dips dramatically, creating a distinctive "flip" to the point of the 5. In a 2014 Heritage sale, the one of the two finest specimen was described as: Similarly, PCGS historically has been slow to recognize the Plain and Fancy 5 variants, but that has changed, as this Red Superb Gem coin's insert proves. Any MS67 Red two cent coin is a great rarity; as of (11/13), the PCGS Population Report lists one 1864 Large Motto, one 1865 without 5 specified, and this coin. Currently, this MS67 Red PCGS coin from The Wineguy Collection holds the auction record reached in January 2014 by realizing $25,850. The coin is currently in HighDesert registry collection.
The other of the two finest (MS67 Red) was offered in Legend’s Regency 55 Auction on 10/20/2022. The auctioneer estimated the coin would bring $24,000 to $28,000. The coin was described as: This SUPERB GEM example is mint fresh! Shimmering RED surfaces are aflame with a bold, radiant, and stunningly brilliant mint luster. Sharply struck devices stand out for their crispness. This coin boasts nothing but exquisite eye appeal! In disappointing results, the coin realized $17,625 assuming it sold. It interesting in seeing that Mr. Hansen and his DLRC Team elected not to be aggressive with this coin at this price. For now, the 1865 MS66RD POP 18/17 will remain in the D.L. Hansen Core Collection.
1867 Doubled Die Obverse
Ron Guth comments on this coin: The 1867 Doubled Die Obverse Two Cent Piece is a dramatic and fairly obvious error. The most obvious doubling can be seen on the motto, where most of the letters (especially those in GOD) are widely doubled, with the first impression too far to the left. The arrows and the leaves on the left side of the wreath show clear doubling. Unfortunately, the date is not affected. This is a very desirable variety, but it is relatively easy to find in circulated grades and can still be cherrypicked on occasion. In Mint State, the population is low, especially with full Red color. As of September 2011, PCGS reported 26 Mint State examples out of a total population of 94 pieces. Of the Mint State examples, 10 were Brown, 14 were Red-Brown, and only 2 were Red. The finest examples certified by PCGS were 3 MS64 BNs, 3 MS65RBs, and 1 MS65RD.
The auction record for this coin was also achieved in a 2014 Heritage’s January FUN US Coin Signature Auction. The cataloger description of the 1867 Doubled Die Two Cent, MS65 Red coin: The classic Guide Book-listed variety shows clearly under magnification. Lemon, apricot, and peach surfaces show a single sizable spot at the M of AMERICA on the reverse. As an ordinary Red Gem 1867 two cent piece, this coin would be a condition rarity; as a Doubled Die, it is the sole finest Red example certified by PCGS. The current PCGS report have four MS65RD specimens. Are there any duplicates? Not sure.
Very similar to the Fancy 5, one of the four top (MS65 Red) specimens was offered in Legend’s Regency 55 Auction on 10/20/2022. The auctioneer estimated the coin would bring $22,000 - 25,000. The coin was described as: This is a warm, red GEM. Brilliant mint color dominates both sides, though it has mellowed somewhat, with some delicate iridescent peripheral overtones. This is light enough that it did not lead to an RB designation. The devices show complete definition, sharply impressed by an exacting blow from the dies. A couple of ancient flecks and a small planchet flake identify this GEM and have minimal impact on the overall eye appeal! In another disappointing result, the coin realized $15,862.50. This would have been a great opportunity for Mr. Hansen to replace his MS63BN, the POP 10/42.
1864 “Large Motto”, MS67RD PCGS
Expert Comments from Ron Guth: In 1864, the Philadelphia Mint produced two versions of the Two Cent piece, both relating to the size of the letters in the motto IN GOD WE TRUST. The Large Motto replaced the Small Motto and became the model for the remaining years of the Two Cent type. The Large Motto variety is the more common of the two.
The auction record specimen for this coin currently resides in the GoodTrimes Registry Set. The coin from the College Collection was offered in the Heritage’s August 2015, ANA U.S. Coins Signature Auction. The coin is one of four PCGS certified specimens. The cataloger described the 1864 “Large Motto” as: “This remarkable Superb Gem is tied with one other for the finest 1864 Large Motto at PCGS, but its importance transcends this one issue. In the entire two cent series, PCGS has certified only four coins as MS67, including this piece and its numerically equal Red counterpart, a single MS67 Brown representative of this same date, and an MS67 Red 1865 coin (6/15).” The coin realized $19,975. There are now two addition specimens graded MS67 Red since 2015 increasing the PCGS POP to 4/0. CAC has not approved a MS67RD for a sticker.
The new Hansen coin appeared in Heritage’s June 2020 Long Beach Expo US Coins Signature Auction. The coin was graded MS66+ Red PCGS with CAC Approval. The coin was described by cataloger as: This is the usually seen Large Motto style of 1864 two cent pieces, but it is a quality that is far from usual. This Premium Gem has brilliant and frosty orange mint luster with a few splashes of deeper orange, and wisp blue overtones that add to the eye appeal. The sharply repunched 1 in the date may be a key to variety attribution. The coin realized $9,000 for a MS66+RD. Currently, the coin is graded MS67RD PCGS but as stated, is not CAC Approved.
The 1864 “Large Motto”, MS67RD PCGS coin makes a nice improvement to already a great set of Shield Two Cents. It will be interesting to watch and see if the two non-condition census varieties are upgraded in upcoming opportunities.
Provenance: Long Beach Expo US Coins Signature Auction in Dallas, (Heritage 6/2020 as PCGS MS66+RD, CAC, Cert #34000488), lot 3375, realized $9,000; Purchase by D.L. Hansen in private transaction from David Lawrence Rare Coins; D.L. Hansen Collection.
Liberty Head $10 Gold with Major Varieties, Circulation Strikes (1838-1907)
As we are seeing 2022 winding down, the flow of updates into D.L. Hansen Collection has begun to dwindle. That can be expected during this holiday season with all the activities that are going on. Also, we may be seeing a breather before the January fireworks show at the FUN events. Those sales including, Bass, Bender, O’Neal, etc. should be cool to watch from the sideline. I thought we could have seen a few upgrades posted from the Heritage US Coins Signature Auction held December 15 – 18. I am not sure if there were no purchases by the Hansen Team, or they could be slow to post in the registry. I did find a recent Seated Liberty Eagle purchase in a late October from a Great Collections Auction. I think that at the end of the year would be another great time to do a quick recap of the Hansen Liberty Head Eagles.
The entire mint state Liberty Head Eagle set is 184 coins. The set is described by PCGS as: This long, long series stretches from the time when Abe Lincoln was less than 30 years old to the years when Teddy Roosevelt was in power. The set is filled with rarities, but there are no so-called "impossible" coins as are seen in many other series. The classic rarity is the famed 1875. This set involves three distinct types: the No Motto Covered Ear, the No Motto and the With Motto. The "Varieties Set" of this great series is not that different from the Basic Set. Yes, there are a few goodies to add to the Basic Set, but well over 95% of the work and fun are done before you get to the varieties.
Mr. Hansen completed the set in February 2020. With completion, the Hansen set became the #1 All-Time PCGS Registry 184-piece set. The set has remained in the top spot ever since. The set has received annual “Best of the Registry” for the last five years straight, with Gold Award Winner in 2019. During this time, the set has been constantly improved. In February 2020, the GPA with bonus points for the Hansen #1 set was 58.898. After about 48 Upgrades in the past 2.5 years, the set now has a GPA with bonus of 59.680 which is approaching a full one point improvement.
My last discussion on this set was a recent post November 3rd. The Hansen Team upgrade the set with a purchase from the Heritage 2022 Long Beach Expo US Coins Signature Auction. The coin was a sole finest specimen, 1867 Liberty Head Eagle, PCGS MS62 from Northern Lights of Vermilion Collection. In that posting, I described the top five sets in the PCGS Registry. In this post, let’s look at the details in the top set. Other than being All-Time number #1, these are the other key indicators in the Hansen 184-piece set:
14 Coins - PCGS POP 1/0, Sole Finest, highlighting the amazing 1839/8 Type of 1838, PCGS MS66, CAC.
35 Coins - PCGS Tied for Finest Certified, highlighting the incredible 1870-CC, AU55, POP 3/0.
31 Coins - PCGS Certified One Finer, highlighting the astonishing 1884-CC, MS62+, POP 1/1.
64 Coins - PCGS Condition Census Top Five, highlighting the remarkable 1875, AU50, POP 3/3
This impressive set is 78.26% PCGS condition census top five. Of the non-CC specimens, the bottom five coins with the highest PCGS POP are:
As you can see, the set still has a ways to go and the 40 coins that are not condition census which makes prime candidates for upgrading. Before featuring the coin, let's look how it fits in a 11-coin run.
1895-O Liberty Head Eagle, PCGS MS-63+
Just Two Coins Finer at PCGS (HA 5/2022)
This PCGS Condition Census coin may be the last eagle upgrade in 2022. In fact, this could be the last upgrade period. If it turns out that way, it is a nice way to finish the year. Gold expert Doug Winter describes the date as: The 1895-O is similar in overall and high grade rarity to the 1892-O and the 1893-O eagles. It is another issue that has become far more available in the past decade due to the discovery of a group of hoards. The 1895-O is almost never seen below AU55 and most of the surviving examples grade AU58 to MS61. It is scarce in properly graded MS62 and rare in MS63. I have never seen or heard of a piece that graded higher than MS63. Currently, there are eight PCGS specimens graded MS63+, and only three MS64. It appear the PCGS MS64 has gone from just two to currently three since May 2022. In the NGC POP report, there is one MS63+ and one MS64. Two of the three PCGS MS64 specimens are CAC Approved. There are 10 MS63 CAC approved, but I cannot confirm any are MS63+.
The three MS64 specimens have never appeared in auction with that grade. The limited appearances of the high end coins is puzzling. With the three MS64 having no appearances, the Hansen coin is the only MS63+ that has been offered in auction. The coined appeared twice in 2022, once in a May Heritage Auction and later in a October Great Collections. The only NGC MS63+ appeared in the Heritage 2017 ANA US Coins Signature Auction. The coin was cataloged as: The 1895-O ten comes from a mintage of only 98,000 coins and is rare in MS63. Only a single numerically finer coin is known. This Plus-graded Select example displays sharp motifs and satiny straw-gold mint luster. A few light, scattered abrasions are consistent with the grade. This New Orleans issue is underappreciated in this condition. Census: 11 in 63 (1 in 63+), 1 finer (6/17). The NGC POP has not changed from 2017, and the NGC MS64 has never appeared in auction. The Fairmont hoard placed three new MS63 PCGS specimens in 2022 Stacks Bowers Auctions. So far, the Fairmont ceiling has been MS63 for this coin.
I found four auction appearances for the Hansen MS63+ specimen. There was brief mention of the coin in a 1/2007 Stack’s Auction called the Orlando Sale. The coin was in lot 1388. Then the coin was part of the M.B. Tucker Collection of U.S. Gold Coins before being offered in a Stacks Bowers, 11/2011 sale. In this sale, the cataloger described the coin as: A frosty and lustrous specimen with warm orange highlights on honey gold surfaces. Choice and appealing for the grade, and among the finest examples of the date certified by NGC. The coin was graded MS63 and sold for $5,175.
After eleven years in dark places unknown, the coin appear again in a May 2022 Central States US Coins Signature Auction. This time in a PCGS MS63+ holder. The coin was described as: Prominent die lines appear near the Y in LIBERTY, confirming the attribution. This is a marvelous high-end New Orleans eagle from a mintage of 98,000 coins. Design definition is strong throughout. Warm, satiny luster glows from minimally marked orange-gold surfaces. The coin realized $7,800 and still have an active Cert #43978204. The coin was purchased in the Great Collection Auction for the Hansen Collection. It had a new certification for the May Heritage sale. The coin replaces a MS63 Hansen pedigreed coin that dates back to 2016.
Provenance: The Orlando Sale, (Stack’s 1/2007), lot 1388; The M.B. Tucker Collection of U.S. Gold Coins / November 2011 Baltimore, (Stacks Bowers 11/2011 as NGC MS-63), Lot 9746, realized $5,175; Central States US Coins Signature Auction (Heritage 5/2022 as PCGS MS63+, Cert #43978204), lot 4860, realized $7,800; Great Collections Auction, (10/2022), Item ID: #1225487, realized $10,273.95, D.L. Hansen Core Collection
1895-O Liberty Head Eagle, PCGS MS-63+ PCGS POP 8/3 Certification #45818790, PCGS #8733 PCGS Price Guide $10,000.00 / Realized $10,273.95
@Clackamas1 said:
I don't know what shuffling they are doing but some of his date sets have fallen in rank.
Interesting, I have not noticed. I don’t pay much attention to the date or basic sets. They are subsets of the major variety sets. I review and look for upgrades in the 69 MV core sets and 67 proof sets. There are currently almost 2000 Hansen registry sets. I am not sure how often they are updated. I focus on less than 100 sets and the large complete sets. All my upgrades are found in those sets which covers all the core coins. Although, what you are saying is interesting. If you post a couple sets as examples, it could be interesting to dig into. Lastly, I don't think Mr. Hansen goal is to have the finest coin in every slot. It appears the core collection of approx. 6500 coins (if you count proof in the core collection) is tracking toward 100% PCGS Top Five. This is not something that I heard him declare as goal, but it is what I see in tracking. He is not there yet, but this is what I see his updates are tracking to:
15% PCGS POP 1/0, finest certified by PCGS.
Another 35% tied, which results in 50% of the core collection will be PCGS finest.
The number of specimens that is second finest with only one PCGS graded finer is 15-20%.
The remainder is tracking toward PCGS Top Five which means only four coins can be graded finer.
Currently,
The mint strikes (4558 total) core coins are 42% Finest and 77% Top Five
The proof (1916 total) coins are 51% Finest and 72% Top Five.
-- Note that he still has 230 proof coins missing that negatively impact this percent.
Again, I am not implying these are Hansen's goals, only that is the way I see this large core collection tracking. What I don't see as much, is him focusing on the smaller date and basic sets and making them number. If you are competing in the entire sets, i.e. Major Variety, then look out.
@Currin said: Liberty Head $10 Gold with Major Varieties, Circulation Strikes (1838-1907)
As we are seeing 2022 winding down, the flow of updates into D.L. Hansen Collection has begun to dwindle. That can be expected during this holiday season with all the activities that are going on. Also, we may be seeing a breather before the January fireworks show at the FUN events. Those sales including, Bass, Bender, O’Neal, etc. should be cool to watch from the sideline. I thought we could have seen a few upgrades posted from the Heritage US Coins Signature Auction held December 15 – 18. I am not sure if there were no purchases by the Hansen Team, or they could be slow to post in the registry. I did find a recent Seated Liberty Eagle purchase in a late October from a Great Collections Auction. I think that at the end of the year would be another great time to do a quick recap of the Hansen Liberty Head Eagles.
The entire mint state Liberty Head Eagle set is 184 coins. The set is described by PCGS as: This long, long series stretches from the time when Abe Lincoln was less than 30 years old to the years when Teddy Roosevelt was in power. The set is filled with rarities, but there are no so-called "impossible" coins as are seen in many other series. The classic rarity is the famed 1875. This set involves three distinct types: the No Motto Covered Ear, the No Motto and the With Motto. The "Varieties Set" of this great series is not that different from the Basic Set. Yes, there are a few goodies to add to the Basic Set, but well over 95% of the work and fun are done before you get to the varieties.
Mr. Hansen completed the set in February 2020. With completion, the Hansen set became the #1 All-Time PCGS Registry 184-piece set. The set has remained in the top spot ever since. The set has received annual “Best of the Registry” for the last five years straight, with Gold Award Winner in 2019. During this time, the set has been constantly improved. In February 2020, the GPA with bonus points for the Hansen #1 set was 58.898. After about 48 Upgrades in the past 2.5 years, the set now has a GPA with bonus of 59.680 which is approaching a full one point improvement.
My last discussion on this set was a recent post November 3rd. The Hansen Team upgrade the set with a purchase from the Heritage 2022 Long Beach Expo US Coins Signature Auction. The coin was a sole finest specimen, 1867 Liberty Head Eagle, PCGS MS62 from Northern Lights of Vermilion Collection. In that posting, I described the top five sets in the PCGS Registry. In this post, let’s look at the details in the top set. Other than being All-Time number #1, these are the other key indicators in the Hansen 184-piece set:
14 Coins - PCGS POP 1/0, Sole Finest, highlighting the amazing 1839/8 Type of 1838, PCGS MS66, CAC.
35 Coins - PCGS Tied for Finest Certified, highlighting the incredible 1870-CC, AU55, POP 3/0.
31 Coins - PCGS Certified One Finer, highlighting the astonishing 1884-CC, MS62+, POP 1/1.
64 Coins - PCGS Condition Census Top Five, highlighting the remarkable 1875, AU50, POP 3/3
This impressive set is 78.26% PCGS condition census top five. Of the non-CC specimens, the bottom five coins with the highest PCGS POP are:
As you can see, the set still has a ways to go and the 40 coins that are not condition census which makes prime candidates for upgrading. Before featuring the coin, let's look how it fits in a 11-coin run.
1895-O Liberty Head Eagle, PCGS MS-63+
Just Two Coins Finer at PCGS (HA 5/2022)
This PCGS Condition Census coin may be the last eagle upgrade in 2022. In fact, this could be the last upgrade period. If it turns out that way, it is a nice way to finish the year. Gold expert Doug Winter describes the date as: The 1895-O is similar in overall and high grade rarity to the 1892-O and the 1893-O eagles. It is another issue that has become far more available in the past decade due to the discovery of a group of hoards. The 1895-O is almost never seen below AU55 and most of the surviving examples grade AU58 to MS61. It is scarce in properly graded MS62 and rare in MS63. I have never seen or heard of a piece that graded higher than MS63. Currently, there are eight PCGS specimens graded MS63+, and only three MS64. It appear the PCGS MS64 has gone from just two to currently three since May 2022. In the NGC POP report, there is one MS63+ and one MS64. Two of the three PCGS MS64 specimens are CAC Approved. There are 10 MS63 CAC approved, but I cannot confirm any are MS63+.
The three MS64 specimens have never appeared in auction with that grade. The limited appearances of the high end coins is puzzling. With the three MS64 having no appearances, the Hansen coin is the only MS63+ that has been offered in auction. The coined appeared twice in 2022, once in a May Heritage Auction and later in a October Great Collections. The only NGC MS63+ appeared in the Heritage 2017 ANA US Coins Signature Auction. The coin was cataloged as: The 1895-O ten comes from a mintage of only 98,000 coins and is rare in MS63. Only a single numerically finer coin is known. This Plus-graded Select example displays sharp motifs and satiny straw-gold mint luster. A few light, scattered abrasions are consistent with the grade. This New Orleans issue is underappreciated in this condition. Census: 11 in 63 (1 in 63+), 1 finer (6/17). The NGC POP has not changed from 2017, and the NGC MS64 has never appeared in auction. The Fairmont hoard placed three new MS63 PCGS specimens in 2022 Stacks Bowers Auctions. So far, the Fairmont ceiling has been MS63 for this coin.
I found four auction appearances for the Hansen MS63+ specimen. There was brief mention of the coin in a 1/2007 Stack’s Auction called the Orlando Sale. The coin was in lot 1388. Then the coin was part of the M.B. Tucker Collection of U.S. Gold Coins before being offered in a Stacks Bowers, 11/2011 sale. In this sale, the cataloger described the coin as: A frosty and lustrous specimen with warm orange highlights on honey gold surfaces. Choice and appealing for the grade, and among the finest examples of the date certified by NGC. The coin was graded MS63 and sold for $5,175.
After eleven years in dark places unknown, the coin appear again in a May 2022 Central States US Coins Signature Auction. This time in a PCGS MS63+ holder. The coin was described as: Prominent die lines appear near the Y in LIBERTY, confirming the attribution. This is a marvelous high-end New Orleans eagle from a mintage of 98,000 coins. Design definition is strong throughout. Warm, satiny luster glows from minimally marked orange-gold surfaces. The coin realized $7,800 and still have an active Cert #43978204. The coin was purchased in the Great Collection Auction for the Hansen Collection. It had a new certification for the May Heritage sale. The coin replaces a MS63 Hansen pedigreed coin that dates back to 2016.
Provenance: The Orlando Sale, (Stack’s 1/2007), lot 1388; The M.B. Tucker Collection of U.S. Gold Coins / November 2011 Baltimore, (Stacks Bowers 11/2011 as NGC MS-63), Lot 9746, realized $5,175; Central States US Coins Signature Auction (Heritage 5/2022 as PCGS MS63+, Cert #43978204), lot 4860, realized $7,800; Great Collections Auction, (10/2022), Item ID: #1225487, realized $10,273.95, D.L. Hansen Core Collection
1895-O Liberty Head Eagle, PCGS MS-63+ PCGS POP 8/3 Certification #45818790, PCGS #8733 PCGS Price Guide $10,000.00 / Realized $10,273.95
That sure is a clean 63+ must be pretty muted luster in person which I imagine is common for the issue.
Comments
Historic Harry W. Bass Jr. Core Collection Part I - US Coins Signature Auction (2 of 8)
First Gold Proof Sold from Harry W. Bass Jr. Core Collection
In a post-sale press release by Heritage Auctions, this coin was describes as: Important highlights of the PCGS-graded Harry Bass Core Collection include: 1854 G$1 Type One, JD-1, Unique, PCGS PR65DCAM, Realized $720,000. This coin is unique as a proof - the only one known. The Heritage sale was only the second auction appearance of this piece. The first was in 1985 in Stack's section of Auction '85, where Bass acquired it for $68,750.
This coin becomes an important piece in the D.L. Hansen One Dollar Gold, Proof (1849-1858). This little 8-piece set is not easy. In comparison, the Smithsonian National Numismatic Collection only has five of the eight specimens. Louis Eliasberg and Harry Bass only had four of the eight! With the purchase of the unique coin, The D.L. Hansen Collection now stands at seven.
This Bass Foundation coin claims the title of the centerpiece of the set. The set is described by PCGS Registry as: This is a set of ultra-rarities! It comprises three different types, with the 1858 (Type Three) being the only date that is seen with any frequency (18 examples certified). The Type One Proofs (1849-54) are so rare that PCGS has not certified a single piece of any date as this is being written. The Type Two Proofs are dated 1854 and 1855 and are great rarities as well, with just eight specimens certified for the two dates combined. The Type Three Proofs begin in 1856 and this set includes the first three years of issue. Not only is this a great set, nabbing even a single coin in the series is a numismatic accomplishment. Some of the numbers in this PCGS description has changed over time. The numbers may change, but the overall challenge and difficulty of the set remains unaffected.
In the current PCGS Population Report, it shows only two type one coins certified by PCGS. The D.L. Hansen Set has two Type 1 specimens, but not the same two coins in the report. The Hansen 1849 proof specimen is not listed. Why is PCGS not recognizing the Hansen 1849 G$1 PR62 in the POP report? Maybe more discussion is warranted in the future.
The Hansen / Bass 1854 G$1 Type One, PCGS PR65DCAM, has been added. The other Type one in the report is a questionable specimen from the Park Avenue Collection that last appeared Heritage in a 2013 US Coin FUN Signature Auction. I have discussed this coin a few years ago and will save more discussion for a later time. For the time being, the importance of coin is that it the only coin missing in the set.
The Type II One Dollar gold was produced for only two years. This two-year production has resulted in only a handful of PCGS certified coins. There are eight to be exact! The Hansen set has a pair of DCAMS. We can start with the PCGS sole finest 1854 TYPE II, PR64+ DCAM (unique PCGS certified) from the Parmelee / Pittman Collections. The other coin is the 1855 PR65+ DCAM specimen. This is not finest but is a great specimen from the Boyd / Starr Collection with a host of other famous collectors in the provenance. I wrote in detail about this coin in a July 29, 2020. This would be a nice time to review that post for more information.
Finally, to complete this set from 1849 to 1858, there are three years of Type III. This type was produced to 1889, so a type-coin can easily be found in later years. The 31-piece (1859 – 1889) set are all Type III coins. According to my count, there are 33 PCGS certified Type III specimens from the early years of 1856, 1857, and 1858. The Hansen 1856 specimen is a PR65DCAM PCGS POP 3/1, his 1857 is a sole finest PR66DCAM specimen, and his 1858 is a tied for finest PR66DCAM specimen.
These seven coins sets the stage for a historic story. If the last coin is one day in the cards, it would cap off maybe the only complete set of ultra-rarities One Dollar Gold Proofs ever assembled. As stated earlier, Harry Bass only had four of the eight. In the meantime, let’s enjoy this unique rarity.
Only Type One Proof Example Traced
1854 Gold Dollar, PR65 Deep Cameo, CAC. Ex: Merkin / Bass
This is certainly a unique coin. When there is only one known, then the grade really don’t matter that much. Having the CAC approve striker may even be lesser significance. This coin is a superstar by all accounts. It’s not only unique, but has a PCGS GEM grade of PR65 Deep Cameo, and a CAC sticker to boot! There was no doubt that Mr. Hansen wanted this coin in his collection. The Hansen Team led by John Brush can proudly say, Mission Accomplished. Where does a coin like this come from? The Heritage cataloger tied to shed some light, but it was not much. Only one 1854 Type 1 gold dollar is known in proof format. The early history of this coin has puzzled numismatists for decades and its provenance before 1985 remains one of the most compelling mysteries in American numismatics. Its absolute rarity invites comparison with other, more famous issues, like the unique 1870-S three dollar gold piece (which is also part of the Bass Collection). Heritage Auctions is privileged to offer this landmark rarity from the Harry Bass Core Collection in just its second auction appearance.
Heritage reported on Mr. Bass' acquisition: Harry Bass purchased this coin at Stack's Auction in 1985 for $68,750, a remarkably high price at the time. It has been off the market ever since and has been viewed by millions of collectors while on display at ANA Headquarters in Colorado Springs and at major coin conventions, as part of the Harry Bass Core Collection. I personally have not seen this coin… yet. I am certain, it will be more impressive in hand, but again, why does this coin exist? There are a few possible origins with none I put more credence in than another. The first: Walter Breen reported the existence of one proof 1854 Type 1 gold dollar, from a set the Mint shipped to Bremen, Germany in 1854, in exchange for "cabinet coins." The set was supposedly "liberated" during World War II, and later turned up in Switzerland. Still later, the proof gold dollar was seen at the 1975 ANA Convention. Many numismatists believe this was the source of the present coin, which Harry Bass purchased from Auction '85.
There are other possibilities. This is one of the others: There was a complete 1854 proof set, from half cent through double eagle, offered in the A.C. Kline Sale (Moses Thomas and Sons, 6/1855), just one year after the coins were struck. The coins were offered individually in lots 167-168 for the copper, 249-254 for the gold, and 435-439 for the silver (the half dime and three cent piece were sold in the same lot). Lot 254 included examples of both the Type 1 and Type 2 gold dollars. All the coins were described identically as a "beautiful proof, fresh from the die." The gold coins sold for face value, but the copper and silver pieces sold for more. It should be noted that the cataloger of the Kline Sale called many coins proofs, including some from years in which modern numismatists believe no proofs were struck. It may well be that this 1854 "proof set" was really just a group of nice Uncirculated coins from the previous year. Still, the identical description of all the coins as "beautiful" proofs suggests they might all come from a single set, and the fact that the copper and silver issues sold for more than face value indicates they were proofs. It is unlikely that a collector would pay 15 cents for a half cent that was struck just the year before, with a mintage of 55,358 pieces, unless there was something special about it. It is theoretically possible that the present coin originated with this set.
The mystery continues with: Wayte Raymond told Breen he had seen another proof 1854 Type 1 gold dollar in 1951. That coin could have been either of the two mentioned above, and might have been another appearance of the coin offered here. Ultimately, the history of this coin before the early 1980s remains a mystery. The first verifiable appearance: Prominent numismatist Ken Goldman remembers Lester Merkin handling this coin in the early 1980s:"Merkin had this coin at a NASC Convention in Los Angeles. I saw it there & it was priced at $35,000. It was in the Ambassador Hotel in downtown LA. It was, as I recall, in the early 1980's. Merkin told me the coin came from Europe--which is entirely believable since he got many coins from Europe (some via Ed Shapiro) and I was good friends with him as well. I recall looking at that coin & was quite impressed. It was in a paper envelope laying out in his showcase."
Now, the only verifiable auction appearance before the Bass Sale last month was: The first auction appearance of this piece that can be positively confirmed was in lot 1874 of Auction '85 (Stack's, 7/1985). The lot was described under the heading "UNIQUE 1854 TYPE 1 PROOF GOLD DOLLAR" as: "1854 Type 1. Choice Brilliant Proof. Sharply struck, with glittering surfaces. This is the only known specimen of this variety. "In July of 1854, a Complete Proof Set in Gold, Silver and Copper, was struck for presentation to the City fathers of Bremen, Germany in exchange for a set of coins from Bremen. Several specimens exist of each denomination from the half cent to silver dollar. "The gold coins, however, seem to be limited to the single set given to Bremen, along with a few Type II gold dollars and about a half dozen three dollar gold pieces. The quarter eagle we sold in the 1976 A.N.A. and this gold dollar are UNIQUE. The whereabouts of the half eagle, eagle, and double eagle is unknown. "The 1854 Type 1 Proof Gold Dollar has never before been offered at public auction. Therefore, this is perhaps a once-in-a-lifetime opportunity. A remarkable specimen of the highest rarity.
I started by saying when there is only one known, then the grade really don’t matter that much. That could be said for the appearance too, but in the case of this coin, the appearance is breathtaking. The Heritage cataloger described as: This delightful Gem proof exhibits sharply detailed design elements throughout, with bold dots on Liberty's tiara and fine detail in her hair. Some faint vertical die file marks are evident on the lower left obverse, from the rim into the field, near stars 2 through 4. On the reverse, a slanting die file mark shows above the E in STATES. Evidence of die rust is visible on both sides. The well-preserved yellow-gold surfaces show deep orange highlights around the devices. Overall eye appeal is terrific and the high quality within the grade is confirmed by CAC. This coin is the only known 1854 Type 1 gold dollar in proof format. It has been 37 years since its last public offering, and it may be that long before it becomes available again.
This was Mr. Hansen highlight purchase in the Bass Part 1 sale and will certainly be a highlight in his collection. Who knows, it may one day be on the cover of one of his books. He was the winning bidder with $720,000 and I am certain he was very happy to land this rarity. Will the Hansen Family keep this coin off the market for another 35 years? That is certainly a possibility. It was sold in the Bass Auction with proceeds going to charity. The next sale of this coin, it has been communicated the proceeds also are going to charity.
Provenance: Lester Merkin displayed this coin at a NASC Convention held at the Ambassador Hotel in Los Angeles sometime in the early 1980s, per Ken Goldman; Auction '85 (Stack's, 7/1985), lot 1874, realized $68,750; Harry W. Bass, Jr.; Harry Bass Core Collection #1004; Harry W. Bass, Jr. Core Collection, Part I / US Coins Signature Auction (Heritage, 9/2022), lot 11003, realized $720,000, D.L. Hansen Collection.
1854 Gold Dollar, PR65 Deep Cameo, CAC
PCGS POP 1/0, Unique
Certification #46092964, PCGS #97597
PCGS Price Guide $650,000 / Realized $720,000
Ex: Merkin / Bass Core Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Historic Harry W. Bass Jr. Core Collection Part I - US Coins Signature Auction (3 of 8)
Heritage cataloger wrote: Walter Breen declared the present coin was a "prooflike presentation piece," Was he right?
A heritage cataloger wrote in a 2013 sale: What makes a proof?" Perhaps the only universal criterion for "proof" in U.S. numismatics is the intent to make a special coin. While there are varying degrees of quality for regular-issue or business-strike coins, a proof is meant to be set apart from those peers -- apart and above. That said, the difference between a quality "prooflike" business strike and a true proof can be hard to discern, and the farther back in U.S. numismatic history one goes, the hazier the boundary gets. This is especially true in the pre-1858 era, when proof production was irregular and many protocols that apply to later 19th century issues were not in place.
The main take-a-way is the farther back in U.S. numismatic history one goes, the hazier the boundary gets. You cannot go much farther than 1798. Yes, you read that right, we are talking about a 1798 Quarter Eagle, MS64 Prooflike, CAC specimen. The coin has resided for more than a half century in the famous Harry Bass Collection. It now has a new home in the Dell Loy Hansen Collection with primary residence in the 12-piece Draped Bust $2-1/2 Gold (1796-1807) set. The coin has instantly obtained centerpiece status. The collection will need few more great coins as this one to establish control of this registry set.
There is not many swimmers in this pool. The current board leader is the St. Jude set owned by Jay Parrino. It is the only completed set in the all-time registry. The second set is Early Aurum owned Tony, one of our community members. Therefore, The Hansen set wraps up this ranking with the #3 set which is also the last set. The set GPA is 56.21, the lowest of the three sets. As a plus, the new Bass upgrade move the set GPA up from a previous grade of 55.053. The set GPA is affected mostly by the 1796 with Stars, XF45+ specimen. The POP on this coin is 1/25. The Bass specimen is a MS-63+, POP 1/1 that will be offered in a future sale. This may be one of the coins on Mr. Hansen’s radar. It will not be the end of the world if Mr. Hansen does not win this coin because I have counted as many as nine future Bass coins will be offered that will upgrade the Hansen 12-piece set. The opportunities for upgrade is abundant.
Of these nice future upgrades, maybe the most significant in the Bass 1798 Wide Date MS-60, POP 2/7. This is a coin that would expand the Hansen Collection, but the Bass grade and POP is just not that good. We will have to wait and see how much interest Mr. Hansen will have in the coin. By the end of the Bass sales, the Hansen 12-piece Draped Bust quarter eagle set could be significant finer than it is today. Let’s now look at currently the best coin the Mr. Hansen’s set.
Sole Certified Prooflike Example at PCGS
1798 Quarter Eagle, MS64 Prooflike, CAC. Ex: Young / Bass
The Hansen Team came out of the box strong by placing winning bids on three of the first four gold coins sold in the Harry Bass Part I Sale. The first gold coin sold was the 1849, No L, MS67+ Gold Dollar specimen for. $90,000. On the next lot, they obtained the Unique 1854 Gold Dollar, PR65 Deep Cameo, CAC specimen realizing $720,000. Just two lots later, they won the amazing 1798 Quarter Eagle, MS64 Prooflike, CAC specimen for $516,000. They spent $1,326,000 on the first three coins purchased in the sale. Of course, from there, things settled down a little.
Sometimes trying to obtain a top five condition census coin is not an easy task. With research by Heritage Auction, this is a list of the top five. Before the Bass grading event, only three of the top five 1798 Quarter Eagle were graded by PCGS: Black Cat / Jung MS65b Specimen; the Early Aurum AU58 Specimen; and Jay Parrino AU58 Specimen. There is the Chalkley Specimen, a MS64 NGC graded coin. With the Bass grading event, a fourth PCGS coin become available that is now in the D.L. Hansen Collection.
Heritage Auctions Roster of Significant Examples (August 2022)
1. Black Cat / Jung Specimen. MS65 PCGS. Norman Stack Type Set, sold privately 1990; Eric Streiner; Chicago Sale (Superior, 8/1991), lot 664, $291,500; Sotheby's (6/2000), lot 359, $268,500; D. Brent Pogue Collection, Part I (Stack's Bowers / Sotheby's, 5/2015), lot 1119, $763,750; The Type Set Collection (Oliver Jung) (per Joe O'Connor); Black Cat Collection (PCGS Set Registry).
2. Hansen / Bass Specimen, MS64 Prooflike PCGS.,CAC. Leo Young (7/1959), lot 956; RARCOA (1/1963), lot 78; RARCOA (7/1970), lot 1425; Harry W. Bass, Jr. Foundation Collection (HBCC# 3005); Harry W. Bass, Jr.; Harry Bass Core Collection #3005; Harry W. Bass, Jr. Core Collection, Part I / US Coins Signature Auction (Heritage, 9/2022), lot 11005, realized $516,000, D.L. Hansen Collection..
3. Chalkley Specimen, MS64 NGC. Arnold and Romisa Collections (Bowers and Merena, 9/1984), lot 2432; Auction '89 (David Akers, 7/1989), lot 1358; Auction '90 (Superior, 8/1990), lot 1249, $34,100; Chalkley Collection (Superior, 8/1991), lot 665, not sold; US, World and Ancient Coinage (Superior, 5/1993), lot 1377, $38,500; ANA Signature (Heritage, 4/2006), lot 1577, $143,750; Central States Signature (Heritage, 4/2008), lot 2405, $218,500.
4. Early Aurum Specimen, AU58 PCGS, CAC. H. Jeff Browning "Dallas Bank" Collection (Sotheby's/Stack's, 10/2001), lot 298, $29,900; Philadelphia Americana (Stack's Bowers, 9/2011), lot 5833, $48,875; Early Aurum Collection.
5. Jay Parrino Specimen, AU58 PCGS. No provenance recorded.
Walter Breen declared the present coin was a "prooflike presentation piece," Was he right? The Heritage Cataloger describes it best: Only 1,094 quarter eagles were produced in 1798, a mintage that is considerably less than the famous 1796 No Stars and With Stars quarter eagles combined. Even more famously, Walter Breen declared the present coin was a "prooflike presentation piece," and he was half right -- it is unquestionably Prooflike, as certified by PCGS with CAC endorsement. The sharp strike and high-contrast surfaces support Breen's assertion, but apparently Breen's vote did not sway the PCGS graders. With such a small mintage, most 1798 quarter eagle survivors are partially prooflike, although the near-Gem Uncirculated condition is what makes this coin truly impressive. I agree that coin is truly impressive even though the PCGS grader did not see justification to give the coin the “SP’ designation.
In the Heritage description, the accolades were flowing: This coin may the most visually stunning early quarter eagle we have seen in recent memory. Only a small rough patch (as struck) above M in AMERICA needs mention, and the deeply mirrored fields are superlative. Given the date's overall rarity and the challenging 1798 BD-1 die marriage, it is safe to say this opportunity is not likely to come again anytime soon.
The Hansen purchase could have stop with the first three coins, but that was not the case. The team continued with placing winning bids on at least five other coins. I would recommend you keep watching.
Provenance: Leo Young (7/1959), lot 956; RARCOA (1/1963), lot 78; RARCOA (7/1970), lot 1425; Harry W. Bass, Jr.; Harry Bass Core Collection #3005; Harry W. Bass, Jr. Core Collection, Part I / US Coins Signature Auction (Heritage, 9/2022), lot 11005, realized $516,000, D.L. Hansen Collection.
1798 Quarter Eagle, MS64 Prooflike, CAC`
PCGS POP 1/1, PCGS POP 1/0 - PL
Certification #46092645, PCGS #908556
PCGS Price Guide Unknown / Realized $516,000
Ex: Young / Bass Core Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Damn. Just wow on those latest additions.
My YouTube Channel
Historic Harry W. Bass Jr. Core Collection Part I - US Coins Signature Auction (4 of 8)
As for the high relief coins, have several hundred struck and allow the collectors of the country to obtain specimens as you suggested, none to be issued until the new issue is out. They should be preserved as the work of a great American artist. - Roosevelt in a July 29, 1907, letter to Treasury Secretary Cortelyou
Sometimes, the Hansen Team will purchase a coin that I did not expect. This was one of them. I did not see purchasing the Bass Indian Eagle coming. It is a nice coin, but it is not PCGS condition census. It was in lot 68 which was near the end of the gold portion of the sale. Did that play a factor, possibility, especially if the team came short of spending its allotted budget? The Hansen Team was not successful in winning one of the three coins that realized million-dollars or more. Also, the Indian Eagle CAC Approved coin went for slightly less than the PCGS Price Guide of $200,000, which is somewhat unheard of in today’s market. With all the great coins in the Bass sale, this coin may have not only been off my radar, but many others too.
The coin is from The Harry Bass Type set. In fact, David Calhoun acquired the coin in 2000 specifically for the Harry W. Bass, Jr. Foundation Collection. This means the coin was not part of the original Harry Bass personal collection. On the foundation website, The Bass U.S. Gold Type Set 1834-1933 is described as: The U.S. produced gold coins from 1795 to 1933, starting with denominations of $2.50, $5, and $10. More denominations were added after the discovery of gold in California – $1 in 1849 and $20 in 1850. Minted in one of the world’s most precious metals, these historic coins were designed by some of the finest artists of the day. With the passing of the Coinage Act of June 28, 1834, the authorized weight of gold coins was reduced. Because early gold pieces minted between 1795 and 1834 contain some of the rarest dates, many collectors choose to start their collections with Classic Head gold pieces of 1834.The Harry Bass Type Set includes examples of these later issue gold coins, 1834-1933, by design types, in all six denominations of the period. The Bass Type set consisted of 45 coins. The first gold coin sold in the Bass sale was from his type set, the 1849 Gold One Dollar, MS67+ specimen. As reported, Mr. Hansen purchased this coin. Also, the new Hansen 1854 Gold Dollar, PR65 Deep Cameo specimen is from the type set. The 1907 Indian Eagle, Wire Edge accounts for the third and final Bass type coin that D.L. Hansen purchased in the first sale.
The D.L. Hansen Indian Head Eagles (1907-1933) set is one of the few sets that has not made the PCGS top five leaderboard, and there is good reason for it. Currently the set is 100% complete with a GPA of 61.90. This is nearly 3.5 points behind the #9 All-Time Finest set, Dr. and Mrs. Steven L. Duckor. The set is severely handicapped by the 1933 Indian Head Eagle that is grade N1 by PCGS. It is a magnificent and appearing coin, but it has been doctored on the cheek. If this one coin was replaced with a straight grade M65 PCGS, the GPA would jump to 65.645. Due to popularly and the cost for condition census coins in this 32-piece set, it going to be an expensive undertaking for Mr. Hansen to improve this set where it becomes consistent with his other sets. Just what is that consistency? For the Hansen 69 sets that makes up his core US Entire Mint State Issues, his All-Time leaderboard average is 3.2. The average for the three eagle sets is 4.7 with clearly the Hansen Indian Head Eagles having a big time drag on the sets. As they say, to eat an elephant, take one bite at a time. Bass 1907 Indian Eagle, Wire Edge specimen is one little bite.
An Enduring Artistic Achievement
1907 Indian Eagle, Wire Edge, MS66, Ex: Bass
Typically, this coin is considered the first coin needed a 32-piece set. It is one of two early minted coins in a new series. In an early writing by expert David Akers: Technically, the 1907 Wire Edge is a pattern (Judd 1774) and not a regular issue, but it has always been considered an integral part of the series. The 500-mintage figure comes from a 1908 letter from dealer Henry Chapman to John Garrett, and this number is probably correct since Chapman had very close Mint connections. It is entirely possible that all 500 are really proofs rather than business strikes but there is no way to know for sure. One thing is certain, however; all of the known examples of this issue are of the same method of manufacture and so any distinction between "Proof" and "business strike" 1907 Wire Edge eagles is incorrect. The typical specimen is fairly well struck on the central devices (Indian and eagle) but very weakly struck at the borders. Lustre is typically good to very good. The surfaces are rather satiny with numerous random die scratches in the fields and the color is almost always light-yellow gold or light greenish gold although some specimens are either orange gold or very coppery in color. The 1907 Wire Edge is one of the highest priced issues of the series, but it is actually in the lower half of the series with respect to both overall rarity and condition rarity. Locating a specimen MS-63 or lower is not particularly difficult and even very choice pieces (MS-64) are seen fairly often. However, true gems are certainly very rare since there is no rim on these coins and so unprotected surfaces are prone to nicks and scratches. A few extraordinary quality examples exist that are very nearly as struck. Dr. John Wilkinson's was perhaps the nicest I have seen, but a handful of others are just about the same.
Over the years, the number of GEMs has increased. PCGS rarity and survival estimate is about 125 MS65 or better. PCGS certified GEMS stand at approx. 100. The sole finest is a MS67+, which is located in the Current Finest #1 Halfdome set. This set belongs to a client of Laura Sperber, Legend Numismatics. A high demanded is created for this coin due to being a one-year type required for high end type sets as well as the 32-piece set.
In the Heritage Bass sale, the cataloger described the design of the coin as: The Wire Rim 1907 Indian eagle represents the first mass-produced coin-form representation of Saint-Gaudens' gold ten-dollar designs and employs the softly detailed but bold, high-relief models used to prepare initial trial strikes that were sent to Mint officials and President Roosevelt for approval. The Wire Rim issue was struck in late August, well after stacking problems were identified with the patterns and a decision was made to reduce the design's relief. Saint-Gaudens' Wire Rim design brought the motifs and legends of the artwork directly to the edge of the planchet, thereby reflecting the practices and appearance of ancient Greek coinage and removing all element of "clutter" in the design. Later variants saw a rim added to the dies, followed by a complete reworking of the motifs into a lower relief that would strike well and stack properly.
The mintage was described as: The coinage of 500 Wire Rim tens in August and another 42 later in the year was not for the purpose of testing the design, as supposed by this coin's classification as a pattern for generations, but was instead apparently in response to a request from Roosevelt in a July 29, 1907 letter to Treasury Secretary Cortelyou: "As for the high relief coins, have several hundred struck and allow the collectors of the country to obtain specimens as you suggested, none to be issued until the new issue is out. They should be preserved as the work of a great American artist." The Wire Rim tens were distributed to favored collectors, dealers, Congressmen, Treasury Department officials, and select museums. Quantities were acquired by prominent dealers Thomas Elder and Henry Chapman, who sold them to their buyers over the course of several years. By 1915, 70 pieces remained in government possession as unsold, and these were melted, leaving a net mintage of 472, coins. The finest surviving of these is among the most sought-after ten-dollar gold coins known today.
This new Bass coins replaces a Hansen choice GEM PCGS MS63. This coin from the Poulos Family Collection was last sold in a Heritage 2019 ANA World's Fair of Money US Coins Signature Auction realizing $39,600. The Bass coin is valued at $200,000, so a significant increase in value. Although, the coin replaces a much lower grade coin, it is not a PCGS condition census Top Five. The coin just misses the top 10 with a POP of 20/10. Heritage describes the coin as: This piece displays a bold strike and luminous, glistening wheat-gold surfaces with exceptional preservation. A loupe fails to reveal notable abrasions, and the coin displays eye appeal that fully upholds its lofty numeric grade. Collectors will be hard-pressed to locate a visually superior coin in MS66, and finer examples of this coveted issue are decidedly rare and inaccessible for most collectors.
Provenance: Acquired for the Bass Core Collection by David Calhoun of the Harry W. Bass, Jr. Foundation (2000; Harry Bass Core Collection #1031; Harry W. Bass, Jr. Core Collection, Part I / US Coins Signature Auction (Heritage, 9/2022), lot 11068, realized $192,000, D.L. Hansen Collection.
1907 Indian Eagle, MS66, Wire Edge
PCGS POP 20/10, CAC Approved
Certification #46093099, PCGS #8850
PCGS Price Guide $200,000 / Realized $192,000
Ex: Bass Core Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Historic Harry W. Bass Jr. Core Collection Part I - US Coins Signature Auction (5 of 8)
The Core Collection consists of a complete run of ($3) proof coins from the first year of issue (1854) to the last (1889), plus circulation strikes of the branch mint issues. - 2022 The Harry W. Bass, Jr. Foundation
Mr. Hansen went fishing and caught a Three Dollar Bass for his gold set. This is an expansion coin. The set is now expanded to 77.78% complete. The Part 1 sale offered five $3 proof coins from the Bass Collection. Of the five coins, only one coin was missing from the Hansen collection, the 1868 proof. The Hansen Team was successful in purchasing the 1868, but did not have the winning bids on the remainder four. There are only two active collectors in this series, one is the Tom Benson and the other is Dell Loy Hansen.
The Bender set is 100% complete, although currently the set registry is showing one is missing. I think that may have to do with the upcoming sale. In its hay day, the set had a GPA rating of 67.385 with bonuses. The set was 52.78% DCAM at its max. These numbers took place in the 2015 timeframe. After years of new proofs being graded by PCGS, this rating has eroded a little over the years. In addition, the Bass grading event took a toll on the Bender Three Dollar Gold Proof set, along with many other gold sets. I know the Hansen sets lost several of their PCGS POP 1/0 specimens and many others took a one-coin drop. That’s not bad, because I would like to see all the top condition census coins graded by PCGS. With the new grading company proposed, I could see it becoming even harder. It just would make things clearer and consistent if all the top coins were in the same holder. If you have been watching the Simpson sales, you would have noticed that many of his top gold coins were still in NGC holders. He did crossover some, but not sure I understand the reason not all were done. I have a guess. Also, the Tyrant Collection has many of his gold eagles certified by NGC. I am sure there are others.
For the Bass grading event, I believe the grades were updated in the PCGS database on 8/5/2022. The Bender set dropped that day from 66.748 to 66.659. Somehow, some way, that I cannot explain, the Hansen Three Dollar proof set escaped the wrath of Bass grading, although, his three dollar mint strikes did not. The Hansen mint strike set dropped on 8/5/2022 from 62.375 to 62.153. This is solely contributed to the branch mint three dollar coins. You may recall me discussing this on a September 20, 2022 in a post featuring the 1854-D Three-Dollar Gold, POP 1/0 from the Georgia Gold Rush. If interested, it may be worth your review.
The Hansen three-dollar proof set is missing eleven coins. The Hansen Team should have double opportunity to purchase ten of the eleven coins in the either the upcoming parts of the Bass sale or the Tom Bender sale. Also, there will be multiple opportunities for upgrades. Do not forget the Bender 1855-S coin, graded PR64CAM PCGS which is one of two minted. The second specimen is lost. Whoever buys this coin will need to dig deep. Harry Bass did not have this coin and I am not sure if he was given the opportunity to acquire. P. Scott Rubin is recorded as saying: Until the time when and if the unique 1870-S three-dollar gold piece is offered for sale it is likely that the unique 1855-S Proof will remain the most expensive coin in the series. Oh boy. Which will be offered first?
Tied for Finest at PCGS
1868 Three Dollar Gold, PR65 Deep Cameo, Ex: Kosoff /Bass
This is the first Three Dollar gold addition to the D.L. Hansen Collection from the Harry Bass Collection. David Akers wrote: As one might surmise from the proof mintage of only 25 pieces, proofs of this date are extremely rare, comparable to those of 1865 and 1869 and only slightly less rare than those of 1861. As is the case with many dates in this series after 1866, deceptive first strikes do exist. However, once again, proofs are easily distinguishable from the business strikes by the position of the date. On proofs, the date is high in the field and slants down slightly to the right. On business strikes, the date is very low in the field and nearly level. Also, proofs that I have seen all had a 180-degree rotated reverse as do the proof gold dollars of the same date.
Just a few months ago, Tom Bender had the sole finest 1868 $3 PR65DCAM. Due to the Bass grading event, his coin became tied for finest at PCGS. Both coins will be offered in auctions. The Hansen Team decided to pop on the first opportunity, the Base example. In the Heritage’s Bass sale, the cataloger mentions the Bender coin: Proofs struck in coin alignment, should they exist, would have been struck at a different time. Either way, survival estimates range from as few as a dozen coins to as many as 20 pieces for the entire issue. The Harry Bass Core Collection proof coin is one of the finest, though all should be considered major rarities. Dannreuther provided an assessment of PR66 before it was recently sent to PCGS, who assigned a grade of PR65 Deep Cameo -- tied for finest at that service with the Tom Bender coin. If the coin had received the Dannreuther graded, it would be the sole finest at PCGS.
The Heritage cataloger described the mintage history as: The official mintage of 1868 three dollar gold pieces comprised 4,850 circulation strikes and 25 proofs, most of which were struck in medal alignment. John Dannreuther provides the following commentary in United States Proof Coins, Volume IV: Gold, Part I: "All the reported gold Proofs were delivered on February 20, 1868, so we may conclude that those with the medal alignment were struck on this date or a day or two before and represent the reported mintage. Of course, A. Loudon Snowden was the Chief Coiner from 1866 to 1876 and struck 'extras' for the 'friends of the Mint' on numerous occasions. Chief Engraver James B. Longacre noted in his journal in 1867 that the new Chief Coiner (Snowden, of course) had struck regular issue coins in copper without his permission!"
This was a very nice coin that expands the Hansen proof collection. According to PCGS current value, the Hansen Team got a deal on the coin. With a winning bid realizing $78,000, PCGS values this coin at $85,000. It is not a CAC Approved, so that hurts a little, with Heritage describing the coins as: Eye appeal is phenomenal. The razor-sharp relief elements exhibit a blanket of yellow-gold frost, and they stand out against the surrounding watery fields. A tiny spot in the obverse field adjacent to the I in AMERICA will identify the Bass coin in future appearances.
There is more that could be said about this coin and series, but I feel we will be talking a lot about Three Dollars Proofs in the future. This was just the first Bass $3 proof purchase with three auctions to go. At some point, the Tom Bender Three Dollars proofs will be offered by Heritage. So, don’t stop watching now because things should heat up a little.
Provenance: Harry Bass purchased from Abe Kosoff (7/23/1973); Harry W. Bass, Jr. Core Collection #4021, Part I / US Coins Signature Auction (Heritage, 9/2022), lot 11020, realized $78,000, D.L. Hansen Collection.
1868 Three Dollar Gold, PR65 Deep Cameo
PCGS POP 2/0, Tied for Finest at PCGS
Certification #46095409, PCGS #98031
PCGS Price Guide Unknown / Realized $78,000
Ex: Kosoff /Bass Core Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Historic Harry W. Bass Jr. Core Collection Part I - US Coins Signature Auction (6 of 8)
Five or six proofs are known or reported, but as auction records indicate, none has appeared on the market for more than two decades. - David Akers (1975/88)
This 1833 coin that Mr. Akers is referencing is a rare proof type, Capped Bust $2 1/2, Sm Dent. (1829-1834). Our friend and expect Ron Guth describe this type: This type is a continuation of the Capped Bust type of 1821-1827 but with one major difference: this type was struck in a close collar with a fixed diameter. The old, tooth-like border was replaced with a beaded border inside a raised rim. Modifications were also made to some of the design elements, mostly the stars and letters (which were made slightly smaller). All examples of this type have very low mintages, none of which exceeded 5,000 pieces. All of the dates in this series seem to be of equal rarity, with the exception of the 1834, which commands a significant premium in higher grades. Collectors will have difficulty finding any examples of this type, especially those with original surfaces and color. Many of the examples seen on the market today have been cleaned, repaired, or otherwise enhanced, so certification is a must. When you add proof coins to this description, the type rarity increase exponentially.
PCGS have certified nine specimens in this this type. Maybe more importantly, six of the nine certified is one date, 1831. Interesting, PCGS has certified six 1831 with only 2-3 known, which leads me to believe there could be some resubmits. This new coin expands D.L. Hansen 100-piece Complete U.S. Type Set, Proof (1801-1964) set. I call this set an All-Star collection because it is not a true set from core set concept. This is a very challenging set that PCGS describes as: This is a very difficult set to complete considering the rarity of some of the coins in proof. Just the gold alone is enough to send chills down your spine. It can be completed, but not without plenty of spare change! Completion in high grade would be worthy of the Hall of Fame.
The Hansen set is 91% complete missing nine coins. There are other collectors that are placing their all-star coins in this set, but none of the others are close to completion. The Black Cat set represented by Laura Sperber, Legend Numismatics is a distant second. Although it is possible to complete this set, I am not sure it can be done due to rarity availability. I would need to study it a little more. There have never been a set completed during the PCGS Registry era, and very possible it has never been achieved. PCGS indicates that it can be completed, so it is worthy to keep an eye on. The nine missing Hansen coins are:
Liberty Seated Quarter, No Drapery (1838-1839) - Two Known, and One PCGS Certified
Capped Bust Half Dollar, "HALF DOL." (1838-1839) - Possibly Fewer Than Ten Examples
Liberty Seated Half Dollar, Arrow & Ray (1853) - Possibly Fewer Than Seven Examples
Capped Bust $2 1/2, Large Dent. (1821-1827) – Possibly Fewer Than Eight Examples
Capped Bust $5, Sm Bust, Small Size (1829-1834) - Possibly Fewer Than Twelve Examples
Classic Head $5 (1834-1838) - Possibly Fewer Than Eight Examples
Draped Bust $10, Large Eagle (1804) - Three Known
Liberty $10, No Mot, Covered Ear (1838-1839) - Possibly Fewer Than Seven Examples
St. Gaudens $20, No Motto (1907) – Possibly Two or Three Known
You cannot miss the 1804 Proof Eagle that is required. Mr. Hansen was not successful in obtaining the Bass specimen. It realized $2,280,000 a few weeks ago. The finest known Simpson specimen from the Sultan of Muscat / 'Colonel' Green Collection realized $5,280,000 in January 2021. The only other known specimen is the King of Siam specimen impounded in the Tyrant Collection of Eagles. Another hard one will be the 1907 St. Gaudens $20, No Motto Proof specimen with only two, maybe three are known. There will be future opportunities for a couple of the other gold rarities in the upcoming Bass sales.
1833 Quarter Eagle, PR63 Cameo, Ex: Kesselman / Bass
Sole Certified Cameo Proof at PCGS, Second-Rarest Capped Head Issue
This is another Bass proof addition and a very rare one indeed. Thirty to forty years ago, David Akers wrote: Five or six proofs are known or reported, but as auction records indicate, none has appeared on the market for more than two decades. They still have not appeared several additional decades later. The Hansen / Bass specimen that sold in the Heritage September 2022, sale of the Historic Harry W. Bass Jr. Core Collection Part I was the first auction appearance since the Eliasberg specimen sold by Bowers & Ruddy in October 1982. Also, there have not been any certified by PCGS except for the Hansen / Bass coin.
The Heritage description and Harry W. Bass, Jr. Museum states on appearances: The Harry W. Bass, Jr. Museum Sylloge adds clarity to the possible appearances of other 1833 Classic Head proofs, although some of the coins mentioned are actually prooflike circulation strikes and would not be called proofs today. There is likely some duplication within the listing. Notable examples include: the 1890 Parmelee Collection by New York Coin & Stamp Co.; the 1904 John G. Mills Collection specimen sold by the Chapman brothers; a 1914 William F. Gable Collection example sold by S.H. Chapman; the 1944 J.F. Bell Collection coin by Stack's; a 1945 Hall Collection example by Stack's; the 1948 Collection coin by Numismatic Gallery; and the exceptional 1982 Eliasberg Collection by Bowers and Ruddy Galleries. The Eliasberg coin appears on NGC's current population report as PR67 Cameo, and another high-grade proof is the impounded NNC coin in the Smithsonian Institution, from the original Mint collection in 1838. This is quite a number of early appearances with very little to show for today in the certified era. I would not be surprised if many of these early appearances turned out to be prooflike. In fact, it’s possible some of them are in PCGS MS and PL holders in collections presently.
The cataloger provided some mintage and rarity details on the 1833 Proof: By the early 1830s, mintages of Capped Head quarter eagles topped out at about 4,000 pieces. Rising gold prices was the culprit, and the situation did not change until the Coinage Act of 1834 took effect, ending the destruction of gold coins by reducing gold content by 6%. At the same time, the Classic Head design replaced the Capped Head motif, signaling the end of a of low-mintage gold coinage that is eagerly collected today and considered the mark of an advanced collection. Coinage minted prior to the newly enacted legislation was worth more than face value and no longer circulated to any extent, nor were any coins preserved except for a few fortunate exceptions. Among the few old-tenor coins saved was a tiny number recognized today as proofs. The 1833 Capped Head issue is only slightly more available than the rare 1834 With Motto quarter eagles in either circulation strike format or as proofs. Most of the circulation strike mintage was melted, and proofs were made in only small numbers. David Akers estimated five or six 1833 quarter eagle proofs survive. PCGS has certified just this solitary 1833 proof -- the only one at that service in either Cameo or non-Cameo format.
The coin's description highlighted: Rarest Capped Head Issue, Sole Certified Cameo Proof at PCGS. A coin this rare somewhat speaks for itself, but if you are looking for a description, this was provided by Heritage: This Harry Bass Core Collection coin is vibrantly lustrous, with strong contrast between sharply defined, richly frosted motifs and mirrorlike fields. It is second in quarter eagle rarity only to its 1834 Capped Head counterpart. The coin displays the E PLURIBUS UNUM motto above the eagle's head -- a device that was abandoned on the subsequent Classic Head design, not to return until 1908 Indian Head quarter eagles. We expect strong bidding for this outstanding example, renowned for its unimpeachable quality, dramatic mirroring, and spectacular eye appeal.
According to the PCGS Price Guide, the Hansen Team had to pay up for this coin. Well, not really, because a coin this rare and appear in auction so seldom, pre-determining the value is impossible. With a winning bid realizing $408,000 and PCGS values the coin at $250,000, this coin is a prime example of not being able to predict results. We will see this often as we continue to watch the purchases of the ultra-rarities from Harry W. Bass, Jr. Collection.
Provenance: Harry Bass purchased from Stanley Kesselman, November 8, 1978; Harry W. Bass, Jr. Core Collection #3030, Part I / US Coins Signature Auction (Heritage, 9/2022), lot 11011, realized $408,000, D.L. Hansen Collection.
1833 Quarter Eagle, PR63 Cameo
PCGS POP 1/0, Second-Rarest Capped Head
Certification #46092948, PCGS #87688
PCGS Price Guide $250,000 / Realized $408,000
Ex: Kesselman /Bass Core Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Historic Harry W. Bass Jr. Core Collection Part I - US Coins Signature Auction (7 of 8)
Type 1, Capped Bust, Large Bust Half Eagles (1807 – 1812)
This is an eleven-coin subset of the Capped Bust Half Eagle set. The Capped Bust set requires 46 coins including the unique private owned 1822. This set is a subset of the 77-piece early half eagle gold set. The early set is a subset of the 319-piece half eagle (1795 – 1929) gold collection. As you can see, the subsets are building blocks for the overall collection of 4560 specimens of US Mint Strike Issues.
As for the Type 1, Capped Bust half Eagles, Ron Guth comments: John Reich came out with a completely new design for the $5 gold piece mid-1807. Reich turned Liberty's head 180 degrees so that she faced left and he enlarged the overall size of the head and the bust by lowering the cap Liberty wore on her head. Henceforth, the standard format was to include 13 stars. Reich redesigned the reverse by giving the eagle a more natural pose than on the heraldic eagle design (though eagle's do not normally carry shields on their breasts). The motto "E PLURIBUS UNUM" was added on a scroll hovering in the upper reverse field. The denomination, lacking on previous versions, was now clearly displayed as "5 D." at the bottom of the reverse. The new design was short-lived and ran from 1807 to 1812 before it was revamped again. All of the dates of this type have high mintages for early American gold coins. The 1810 was the first half eagle with a mintage that exceeded 100,000 coins (a number that remained unbeaten until it was crushed in 1820). All dates can be found in a wide range of conditions, up to and including Mint State. As are most early gold coins, these Large, Capped Bust Half Eagles get very pricey as the grade increases. Original, uncleaned examples with fresh, damage-free surfaces are very scarce and extremely desirable. Varieties include the 1808/7 and 1809/8 overdates plus variations in the size of the dates and denominations on 1810, and the denominations in 1811. Six years are represented in the set of eleven coins with the 1810 requiring four varieties.
With the purchase of the 1810 Half Eagle, Large Date, Small 5 half eagle from the Bass Gold Collection, the D.L. Hansen Collection now have a complete Type 1, Capped Bust, Large Bust set. More importantly, this purchase reduces the Hansen countdown to eleven.
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 11 remaining collectable coins in this quest. Two coins in The Major Varieties Set are not collectable, 1797 Half Eagle "Large Eagle, 15 Stars" and 1797 Half Eagle "Large Eagle, 16 Stars", 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 5
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)
Last 6
1842 Half Dollar "Small Date, Rev of 1839" (Survival est. 10 w/ 1 Mint State)
1820 Half Eagle "Curl Base 2, Sm Letters" (Survival est. 14 w/ 8 Mint State)
1798/7 Eagle "7X6 Stars" (Survival est. 25 w/ 3 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)
There are a few additional gold coins on the list that will appear in a future Harry Bass sales. Therefore, Mr. Hansen will have the opportunity to trim this list down a little more. As for rarity, David Akers wrote: Like the 1810 Small date, Small 5, this coin is a major rarity, one of the rarest in the entire Half Eagle series. Only four or five are known, all in the VF to EF range. Just one specimen has appeared on the market in more than 15 years, the EF that sold in Bowers' May 1976 sale and then reappeared at Bowers' October 1977 sale. According to the PCGS Auction website, the coin has appeared in auction only six times since 1999 when the Harry Bass duplicate (EF40) was sold in a Bowers & Merena Auction realizing a whopping $25,300. Of the six sales, the Ex: Brett Pogue (VF25) has appeared three times. The fifth appearance was an Ex: Jewelry specimen with mount removed that is un-certifiable with fine details. The sixth and final appearance was the new Hansen Sole Finest Specimen that appeared in the Bass sale realizing $264,000. Heritage explains this evolution a little better: The Bass duplicate was offered as part of the Bass II sale by Bowers and Merena in October 1999. It later appeared as lot 4667 in our January 2012 FUN Signature sale, where it was net graded VF30 by PCGS with smoothed fields and realized $74,750. Another confirmed example of the 1810 BD-3 half eagle is the D. Brent Pogue coin (also the Akers plate coin) certified VF25 by PCGS. It last appeared for sale in August 2018, realizing $78,000. A recently discovered fourth coin was offered in 2017, graded Fine Details by PCGS.
1810 Half Eagle, Large Date, Small 5, AU53, Ex: Krugjohann /Bass
Finest of Four Confirmed Examples
A count down coin that expands the collection always makes for a good purchase. A PCGS POP 1/0 specimen that expands the collection is very significant. With a PCGS POP 1/0 expansion specimen with a pedigree from the Harry Bass Foundation, can it get any better? Great purchase of a very rare coin.
The Heritage cataloger defines this rarity as: This Bass Core Collection coin is the finest of the four known examples by a wide margin and should command a significant premium as such. Described as "Extremely Fine, lustre surrounding the devices" in 1977, it still features glowing frost around well-struck, minimally worn devices. Yellow-gold surfaces with splashes of coppery color show an expected number of scattered abrasions, and an area of roughness near star 5 aids in pedigree identification. Heavy die cracks around the reverse rim explain why so few of these coins exist; the die must have shattered relatively early on. For all the early gold we have the pleasure of handling, this remarkable rarity still manages to stand out as a highlight for this cataloger, and we are certain it will enjoy a place of significance in its next owner's collection. .
Heritage Auctions’ Roster of 1810 Large Date, Small 5, BD-3 Half Eagles (9/2022)
1 - Hansen / Bass Specimen, AU53 PCGS, Ex: C.W. Krugjohann Collection (Bowers and Ruddy, 5/1976), lot 1326; Fairfield Collection (Arthur Lamborn) (Bowers and Ruddy, 10/1977), lot 1758; Harry Bass Core Collection #3118; Harry W. Bass, Jr. Core Collection, Part I / US Coins Signature Auction (Heritage, 9/2022), lot 11047, realized $264,000, D.L. Hansen Collection.
2 – Nugget / Pogue Specimen, VF25 PCGS, Ex: Americana Sale (Stack's, 1/2006), lot 3020, $46,000; Paul Nugget, sold privately; D. Brent Pogue Collection, Part III (Stack's Bowers / Sotheby's, 2/2016), lot 3139, $56,400; ANA Rarities (Stack's Bowers, 8/2018), lot 1267, $78,000.
3 – Bass (Duplicate) / Jacobson Specimen, VF30, Smoothed Fields PCGS, Ex: George Gozan Collection / Auction '80 (Paramount, 8/1980), lot 923, as part of a complete set of all four 1810 $5 varieties; Harry W. Bass, Jr. Collection, Part II (Bowers and Merena, 10/1999:794), lot $25,300; Harvey B. Jacobson, Jr. Collection (Heritage 1/2012), lot 4667, $74,750. Special Note: The current grade assigned to this example is one of the extremely rare instances where PCGS assigned a net grade to a coin. Earlier "problem" coins were assigned a "Genuine" label with no grade; later versions were given Details grades (i.e. "XF details, environmental damage".
4 – Jewelry Specimen, Fine details PCGS, Ex: Baltimore Sale (Stack's Bowers, 6/2017), lot 11393, $8,813, Note: Mount removed
The cataloger explained the significance of the coin: In a collection replete with high-grade condition rarities, a coin like this in AU53 might have a hard time standing out. It would be a mistake, however, to overlook it. This 1810 Large Date, Small 5 five dollar gold piece is one of the most significant offerings in the Bass Core Collection of early half eagles. Four die varieties exist for the 1810 Draped Bust Left half eagle. They feature varying combinations of Large and Small Dates with either a Tall, Small, or Large 5 in the denomination. The Large Date obverse and Small 5 reverse identify the BD-3 pairing. This is the standout key for the year, and, indeed, for the type. John Dannreuther writes in his fantastic 2006 series reference, Early U.S. Gold Coin Varieties: "This is the rarity for the Type! Estimates by most researchers have all been no more than a half dozen coins. This number might be generous, as the author can only trace four or five examples. Harry Bass owned two of them!"
The PCGS Price Guide did not attempt to provide a price guidance for this coin. It is a very rare, condition finest and has not appeared in public in 45 years. The Hansen Team treaded these unknown waters and was able to place a winning bid that realized $264,000. We are not done with the Type 1, Capped Bust half eagles. We will wrap and place a bow on the Capped Bust half eagles and Harry Bass purchases with the next post. Will see you then.
Provenance: See #1 Above
1810 Half Eagle, Large Date, Small 5, AU53
PCGS POP 1/0, Finest of Four Confirmed Examples
Certification #46092676, PCGS #507597
PCGS Price Guide Unknown / Realized $264,000
Ex: Fairfield /Bass Core Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Historic Harry W. Bass Jr. Core Collection Part I - US Coins Signature Auction (8 of 8)
1821 Half Eagle Soars to $4.6 Million, Leading First Bass Collection Auction to $20.5 Million at Heritage Auctions - Heritage Press Release (September 30, 2022)
I must repeat this press release from the first post a couple weeks ago: A magnificent 1821 half eagle rode a burst of furiously competitive bidding all the way to $4.62 million, leading one of the finest collections of U.S. gold coins and related patterns ever assembled to $20,459,645 in Heritage Auctions' Harry W. Bass Jr. Core Collection Part I US Coins Signature® Auction - Long Beach Sept. 29. The Hansen Team missed out on purchasing the 1821 Half Eagle, but the sale for the Hansen Team, I would consider a success. They were successful in purchasing eight coins realizing $2,419,200.
The best Hansen purchase was the unique 1854 G$1 Type 1, PR65DCAM, CAC. Heritage highlighted this coin as a new record: An 1854 Gold Dollar, PR65 Deep Cameo: $720,000 (previous record: $68,750) The Hansen runner-up coin also set a record auction price: An 1833 Quarter Eagle, PR63 Cameo: $408,000 (previous record: $50,600)
Heritage has announced: The next installment of the Harry W. Bass Jr. Collection will be offered Jan. 4-9 through Heritage Auctions at the FUN US Coins Signature Auction. This will be Part II of what I understand to be four parts. This auction is planned to offer 111 coins with 20 feature coins. One of the big boys in this sale will be the 1825/4/1 half eagle PCGS PR62 proof valued at more than a couple million dollars. The first sale produced three coins realizing million dollars plus. Anyone want to guess how many will be produced from Part II of the sale? This will be a great sale to start the New Year.
Type 1, Capped Bust, Large Bust Half Eagles (1807 – 1812)
In the last post, we started the discuss on a subset of half eagles with the 1810 Half Eagle, Large Date, Small 5 specimen. Today, we will complete that discussion with a new sole finest 1811 Half Eagle. The 1811 increases the number of sole finest in the eleven coin subset to three with one other as tied for finest.
Also as can be seen, there are three coins outside the PCGS CC Top Five, the 1807 Bust Left, POP 28/8, the 1810 Small Date, Tall 5, POP 17/48, and 1811 Tall 5, and POP 13/8. While there is room for improvement, there is not much. This little subset would make a great little specialty set. I hope at some point in the future, PCGS will budget time to do a facelift to the US Issues Registry sets. The opportunity is abundant to correct errors and add sets that would be appealing to US Issue collectors.
1811 Half Eagle, Small 5, MS65+, Ex: Mitkoff /Bass
Sole Finest 1811 Half Eagle Representative
David Akers made comments this coin: Although just slightly more common overall than the 1811 Tall 5, the auction data clearly shows that the 1811 Small 5 is much more common in uncirculated condition having appeared 36 times in mint state in my 337 catalogue survey compared to only 17 times for the Large 5. Each variety of the 1811 is more rare than the 1807, 1809/8, 1810 Large Date, Large 5 and 1812 and despite being more often available than the Large 5 variety, choice uncirculated examples of the 1811 Small 5 are harder to locate than either the mintage or most cataloguers would lead one to believe.
Basically, Heritage describes the 1811 as a fairly simple coin with this one in high grade. They write: The 1811 half eagle is a fairly straightforward issue as far as die variety attribution is concerned. The two marriages for the year share a single obverse and are readily distinguished by the size of the 5 in the denomination. One has a Tall 5 (BD-1) that brushes the lower denticles, and the other has a Small 5 (BD-2) about evenly centered between the rim and lowest fletching. Both BD-1 and BD-2 are relatively collectible for early half eagles. John Dannreuther estimates in Early U.S. Gold Coin Varieties that 175 to 250 of the former and 225 to 300 of the latter survive, making this BD-2 variety the slightly more accessible of the two.
Although the accessibility to this coin is very good, there are other factors to consider. I think the Heritage cataloger describes it the best: That perceived degree of availability falls by the wayside when one evaluates an example in this unparalleled state of preservation. The Harry W. Bass, Jr. Core Collection representative in MS65+ condition is the sole finest 1811 Small 5 half eagle at PCGS, followed by seven submissions in MS64+. NGC reports four Gem grading events, although they are not differentiated by variety. We offered one of them as part of our January 2021 FUN Signature sale, lot 4090, where it realized $66,000 -- an auction record we suspect will be broken when this finest-certified example cross the block. This new POP 1/0 coins is not replacing a slug. Hansen existing coin and new duplicate is 1811 “Small 5” MS64+, CAC Approved, PCGS POP 7/0. I featured the coin on August 4, 2020. I am guessing the coin will remain as a duplicate in the Hansen second set. From my original notes, I believe Hansen still has his original Hansen pedigreed coin graded MS63+ that dates back to the 2016 timeframe. With the two coins that he had, why did he purchase this coin? Heritage describes an extraordinary opportunity in the following description.
This spectacular survivor presents thick mint frost over smooth medium yellow-gold surfaces. Liberty's curls and the eagle's shield and feathers are sharp, with that sharpness extending out to the peripheral regions. Magnification reveals trivial ticks that are remarkably minor for such an early half eagle. An extraordinary opportunity. This may have been an opportunity that Mr. Hansen could not pass up.
The Bass Part 1 sale updates has come to an end. FOR NOW! Stay turn to your local channel because I have a feeling this may not be the last Bass coin that the Hansen Team will catch. We could see the team heading to Florida in January for another fishing trip.
Provenance: William A. Mitkoff (6/6/1975); Harry Bass Core Collection #3122; Harry W. Bass, Jr. Core Collection, Part I / US Coins Signature Auction (Heritage, 9/2022), lot 11048, realized $151,200, D.L. Hansen Collection.
1811 Half Eagle, Small 5, MS65+
PCGS POP 1/0, Sole Finest BD-2
Certification #46092680, PCGS #507599
PCGS Price Guide Unknown / Realized $151,200
Ex: Mitkoff / Bass Core Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
The Population Report shows MS-65+ as the top for G$5 1812,
https://www.pcgs.com/pop/detail/capped-bust-5-1807-1834/59
but the CoinFacts page shows a MS-66+.
The Cert Verification shows the MS-66+ comes from the Pogue sale in 2016:
https://www.pcgs.com/cert/31914381
So I think this means the database error is in the Population Report page, while the Registry is working correctly.
Interesting. When I go to the pcgs# 8112 page for the 1812 $5 it does not show the die variety pcgs# 507601 (1812 $5 BD-1, Wide 5D).
But when I go to the pcgs# 507601 page, then it does show the pcgs# 8112 as the major variety (1812 $5).
Appears like a linking problem.
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https://youtube.com/watch?v=2YNufnS_kf4 - Mama I'm coming home ...................................................................................................................................................................... RLJ 1958 - 2023
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Thanks Clint and lilolme.
I agree with you guys. First, let me say I apologized for taking the PCGS POP Report, ConFacts, and Registry as face value without investigation. I knew better, but I have not featured the 1812 Eagle before. This is the actual first time of any research the coin. As an end result, you are both right, but the issue is bigger than either of you have stated. From multiple sources, including reference publications, auction history, online info, PCGS POP Report, CoinFacts, and Registry, I have concluded there is no accurate listing of the top coins for this date, so I created one. I am not convinced my list is 100% correct, because I have a few more questions myself. This is what I know now as of now:
Currin’s Working List of TOP Five 1812 Half Eagles
1 - Hanks / Pogue Specimen – MS66+ PCGS, BD-1 Wide 5D, Cert #31914381, PCGS #507601, (POP 1/0, Overall POP 1/0) Sole Finest.
2 - Bass (HBCC # 3124) Specimen – MS66 PCGS, BD-1 Wide 5D (Double Struck Error), Cert #46092682, PCGS #E507601, (POP 1/0 for Error, Overall POP 1/1).
T3 - Hansen Specimen – MS65+ PCGS, Unattributed BD1, Wide 5D, Cert #37292123, PCGS #8112, (POP 1/0 for Base Coin, Overall POP 3/2).
T3 - Eliasberg / Pogue Specimen - MS65+ PCGS, BD-2 Closed 5D, Cert #31914382, PCGS #507602, (POP 1/0, Overall POP 3/2) Sole Finest Closed 5D variety.
T3 – Unknown MS65+ Specimen - MS65+ PCGS, BD1, Wide 5D, Cert Unknown, #507601. (POP 1/1, Overall POP 3/2) Note: Listed in CoinFacts only
I found four PCGS numbers for the top five 1812 half eagles:
8112 – Base,
507601 – BD-1 (Two specimens on the list)
507602 – BD2
E507601 – BD-1 Error
Unfortunately, they are not properly linked in the PCGS references. At this point, I believe the Hansen 1812 is a PCGS POP 3/2, not the 1/1 as shown in the registry. These PCGS reports are full of errors, so must be careful using them. I was careless. The remaining GEMs are eight MS65 NGC and five MS65 PCGS. Thanks again.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
@Currin
I will try a notification to the PC mod and see if they can pass it along to the appropriate person/group.
@PCGS_Moderator Could you pass the information in the prior 3 posts to whom it may concern. Thanks
https://youtube.com/watch?v=2YNufnS_kf4 - Mama I'm coming home ...................................................................................................................................................................... RLJ 1958 - 2023
THE BIGMO CIVIL WAR COLLECTION
Legend Rare Coin Auctions is proud to officially announce the BIGMO CIVIL WAR COLLECTION, a world-class, PCGS Hall of Fame Registry Set. Featuring many of the FINEST coins issued from 1861-1865 in all denominations from the cent to the double eagle, both Mint State and Proof. Part 1 will be offered in the May 2020 Regency Auction. It is an honor to handle this incredible collection! - Market Report, Legend Numismatics (March 2020)
Monty’s “BigMo Sale” brings back fond memories. Doug Winter (December 10, 2020) wrote: Formed by a Nevada specialized collector over the last decade or so, the Big Mo set of Civil War coinage was likely the single finest set of these issues ever assembled. In 2020, I believe this was a true statement by Mr. Winter, but almost two years later, that statement could be easily challenged. The Civil War Collection was dispense over two public auctions that Mr. Winter describes: The non-gold (and certain gold coins) was sold a few months ago and the remaining coins, all gold, were recently auctioned by Legend in their 12/3 Las Vegas sale. The Hansen Collection acquired a considerable number or both gold and non-gold coins. The gold was a very nicely assemble over a long period of time described as more than a decade. Mr. Winter described his experience with the collections as: I am quite familiar with this collection as I sold the collector a number of the coins and also competed against him in various auctions over the years. There were a number of Condition Census pieces and even a few finest-knowns. Each coin was graded by PCGS and a number were stickered by CAC.
In addition to the coins acquired from Doug Winter, I think BigMo acquired a large number of coins from Legend Numismatics and Legend Rare Coin Auctions. In a Legend March 2, 2020, press release: Company founder Laura Sperber picked up the collection personally and could not be more excited to offer this once in a lifetime collection to the collecting public. She had the following to say: “The BigMo Collection is truly one of the greatest individual collections I have ever seen assembled in my experience in this industry. The set is fully deserving of its Hall of Fame status and is the type of set most collectors could only dream of completing. I cannot wait to start showcasing this collection around the country and am ecstatic that Legend Rare Coin Auctions was offered the opportunity to bring this collection to market.”
In the Press Release for Part 1 Sale, Legend listed Specific Highlights from the BigMo Collection include:
10C 1863-S PCGS MS65+ CAC. Pop 1 (Purchase for Hansen Collection)
10C 1864-S PCGS MS66 CAC. Pop 1
25C 1865 PCGS PR67+ DCAM CAC. Pop 1
50C 1862-S PCGS MS66 CAC. Pop 1 (Purchase for Hansen Collection)
50C 1865 PCGS PR67+ DCAM CAC. Pop 1
$1 1861 PCGS PR66 CAC. Pop 1
$1 1862 PCGS PR66+ CAC. Pop 1 (Purchase for Hansen Collection)
$1 1863 PCGS PR67+ CAM CAC. Pop 1
$1 1864 PCGS MS65+ CAC. Pop 1
G$1 1861 PCGS MS67+ CAC. Pop 1 (Purchase for Hansen Collection)
G$1 1865 PCGS MS68+ CAC. Pop 1 (Purchase for Hansen Collection – 9/30/2022)
The Hansen Collection Improved with the ANA Auctions and now after he has picked up several of the BigMo Civil War highlights, he continuities his quest. As we saw a few weeks ago, The Bender Sale help put the Hansen Collection over the top for Seated Liberty Dimes, but you have to believe the BigMo 1863-S PCGS MS65+ CAC helped too. The Hansen Civil War set is a subset of this core 4560-piece US Mint Strike Issues Collection. The 110-piece set represents only approx. 2.5% of this core collection, although this is an important part. Described by PCGS as: This challenging set represents four years of our country's most trying times, the Civil War. It is a sampling of all denominations including some very tough silver issues: the 1861-S and 1864-S Seated quarters and most all the Seated dollars. Many of the gold issues are downright rare including the 1864-S Liberty Head $10. Completing this set will be an accomplishment as well also an historic representation of a difficult war that took place over 150 years ago.
Civil War Set with Gold, Circulation Strikes (1861-1865)
From a standpoint of popularity, there are not many collectors attempting to assemble this set. The Hansen Sets are #1 and #3 in the All-Time Finest with the BigMo Set sandwich in between. Mr. Hansen as continued to improve his Civil War set with upgrades. According to my count, approx. 50 coins has been upgraded since reaching #1 All-Time on 2/2/2020. If you are doing the numbers, that is about half the set! The key indicators in the 110-piece set are:
33 Coins PCGS POP 1/0, Sole Finest, highlighting the amazing 1863 G$1 PCGS MS68, CAC.
26 Coins PCGS Tied for Finest Certified, highlighting the incredible 1861-D $5, PCGS MS63, POP 4/0.
19 Coins PCGS Certified One Finer, highlighting the astonishing 1863 $3 PCGS MS68, POP 1/1.
21 Coins PCGS Condition Conesus Top Five, highlighting the remarkable 1864-S PCGS AU55, POP 1/2
The impressive set is 90.0% PCGS Condition Census, with 53.6% Finest PCGS. The set still have eleven coins that are not condition census which makes prime candidates for upgrading. The lowest grade coin in the set is the 1864-S $10 PCGS XF45, POP 5/9. To be the biggest drag on the set, the coin still has a PCGS Price Guide Value of $150,000!
With only eleven upgrades to go to achieve 100% PCGS Top Five, the Hansen team continues to work hard on the Civil War Set. Not only did Legend provided the 1865 Gold Dollar, PCGS MS68+ that is featured today, but also two Civil War half eagles were purchased from Legend Auctions Regency 54. Laura Sperber and Legend has been a great source for Civil War coinage for the past couple years. Certainly, Mr. Hansen and his collection has capitalized on that opportunity.
1865 Gold Dollar, PCGS MS68+, CAC, Ex: BigMo” Collection (PCGS Set Registry)
WOW! This 1865 is another MONSTER gold dollar – Legend Auctions cataloger (July 2020)
David Akers made comments this coin: Definitely one of the rarer dates in the series after 1861, although not nearly as scarce as the higher mintage 1863. As one can tell from the average grade of AU-52 and the auction records, the 1865 generally is available in high grade. (The majority of specimens that I have seen have either been Unc. or proof.) The 1865 gold dollar was also restruck, probably sometime after 1872, Like the similar $3 gold piece (J-440), the date slants up to the right whereas on the original 1865, the date is low and level. Supposedly two examples of this restrike are known, although I am unaware of their present location.
PCGS CoinFacts gives the survival estimate to be 80 in all grades. Oddly enough, PCGS has not graded very many specimens below the AU50 grade and 21 GEM MS65 or better. There are only two PCGS coins graded finer than a MS67. They are the MS68 from the Bob R. Simpson Collection and the sole finest MS68+ from the BigMo Collection that is now located in the D.L. Hansen Collection.
The provenance of the coin before the BigMo Collection is not known to me. The Legend cataloger states: This coin has never traded via auction. Assuming this is correct, the coin may not have a history. If it does, please let me know. Legend provides a few interesting facts including some I gave you earlier: This 1865 is another MONSTER gold dollar, entirely equal to the 1864 and is the FINEST KNOWN example of this date; finer than the Bob Simpson coin (PCGS MS68) and the extensively pedigreed Duckor Collection coin (PCGS MS66). Of the original mintage of 3,725, there are perhaps 80 examples that survive, according to PCGS CoinFacts estimates.
As most cases, Legend described the coin as phenomenal: This incredibly preserved SUPERB GEM has an intense mint luster that glows brilliantly from all over, and the fields on the obverse shows light, semi-Prooflike reflection. Both sides show a heart-pounding original blend of reddish orange, flaming gold toning. There are no spots or serious moarks of any kind, indeed, other than a thin line under the first L in DOLLAR, there is nothing but mint created marks on the fields anywhere. This coin is an awesome study in die states. The obverse had been heavily polished prior to use, creating striations in the die. Shortly after, the dies clashed, imposing reverse elements on the obverse, and vice-versa, there is also an internal cud in first L in DOLLAR. Sharply struck up devices, which have a very thick frosty texture, which stand out against the fields, imparting a near-cameo like appearance on the obverse. The eye appeal is phenomenal!
In this sale just over two years ago, Legend placed the value of the coins as: The current Collectors Universe Value is $65,000. Maybe, as in the case of the MS68+ CAC 1864, it had last sold for $70,500 back in 2015. Both coins are more than worthy of strong, six figure prices! The coin was passed. We can assume that either the collector retained the coin, or it has been in Legend’s inventory or someone else’s. I am not 100% sure and I did not ask John Brush to confirm, but it appear the coin can into the Hansen Collection through David Lawrence Rare Coin. The value of this coin has exploded since the auction of 2020. PCGS currently values the coin at $135,000. That is more than 100% price increase in two years. Did he get a good price on the coin? I don’t know. It was certainly not a must have coin, because he passed on the coin in 2020, and he has a very nice MS67 POP 3/2 that will go into his duplicate set. The coin makes for an interesting upgrade.
Provenance: BigMo” Collection; The Regency Auction 39 (Legend, 7/2020), Lot #92, Passed; Purchased by David Lawrence Race Coins in private transaction (9/2022) for The D.L. Hansen Collection.
1865 Gold Dollar, PCGS MS68+
PCGS POP 1/0, CAC Approved
Certification #81299919, PCGS #7564
PCGS Price Guide $135,000 / Realized Unknown
Ex: BigMo” Collection (PCGS Set Registry)
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Heritage 2022 Long Beach Expo US Coins Signature Auction (Part 1 of 2)
The event was part of an extraordinary week of Heritage Long Beach Expo auctions. The Harry W. Bass Jr. Core Collection Part I U.S. Coins Signature Auction reached $20,459,645, then the Long Beach Expo U.S. Currency Signature Auction — Long Beach brought $10,682,19. Last but not least, the second Long Beach Expo U.S. Coins Signature Auction finished at $17,875,326, boosting the three events to $49,017,169, setting a new all-time record for any Long Beach Expo numismatic auction total. - Coin Update (affiliated with Whitman Publishing, LLC.), October 13, 2022
“This event not only featured a wide range of exceptional coins, but also celebrated the collectors themselves, whose knowledge and passion drove their years of assembling these extraordinary collections,” says Todd Imhof, executive vice president at Heritage Auctions. “The fact that the magnificent 1875 $10 Liberty topped $1 million only underscores Heritage’s position as the premier global destination for the most serious numismatic collectors.” The sale may be remembered for another record shattering million-coin sale. An 1875 Liberty Eagle graded AU-53 by Professional Coin Grading Service drew a record winning bid of $1.02 million to lead Heritage Auctions’ Long Beach Expo U.S. Coins Signature Auction to $17,875,326 during October 6-9, 2022. This coin is in an OGH with a seven-digit certification number.
This coin was very much desired by Dell Loy Hansen, but he doesn’t always win. In a recent blog on David Lawrence website, John Brush described this lot as: One of these incredible opportunities came up 2 weeks ago when an 1875 $10 came to auction. It took us 3 years to acquire the AU50 that resides in the collection now! There are only 2 finer examples of this issue, and one of the coins (a PCGS AU53) is the one that came to auction. We saw this as an excellent opportunity for a minor upgrade. We paid $360k for the AU50 (That was a record then for a PCGS coin), so our thought process was that the AU53 might jump to $450k, and if for some reason, it jumped to $550k that would be insane. Well, somehow, we pushed the coin over 7 figures, and we lost. I hope that the winner truly understands what a special coin that was. Unfortunately, we don’t get the opportunity to see what the AU50 is worth now, but I’ll always prefer that coin in the set just because of the story of how long it took us to acquire one. And it occurred at the last major auction at a show before the pandemic left us at home.
This Ex: James Carter AU53 from the Allan H. Goldman Collection is certainly a nice coin, but also is the current Hansen AU50. I personally think the $1M could be well spent in an upcoming Bass or Bender sales. I wonder if the winning bidder was the Tyrant. He too has an AU50 Ex: Simpson/Hall Specimen. We will have to wait and see where the coin turns up, if it does go public. It is currently in a user's private PCGS Set Registry Inventory.
There were other coins in the sale that would improve the Hansen Collection. Including the 1875 Eagle, I had identified 19 coins from the offering of 1523 lots. Of these 19, all were upgrades except for the 1890 Eagle PR64DCAM and a low graded 1863 proof eagle that Hansen passed on. The 1890 Proof Eagle is from the Northern Lights of Vermilion Collection. John Brush appears to have successful bided on three coins from this collection, with the 1890 Proof Eagle leading the way.
In the Coin Update press release, the collection was described as: Another collection with magnificent lots in the auction was the 92-lot Northern Lights of Vermilion Collection, which focused largely on high-grade U.S. gold, including Eagles, Double Eagles, and Half Eagles. Four lots brought six-figure results. Top lots from the collection included, but were not limited to:
A 1931 Saint-Gaudens Double Eagle, PCGS MS-65 — $144,000
A 1931-D Double Eagle, PCGS MS-64 — $126,301.20
A 1915-S Panama-Pacific $50, PCGS MS-64+ — $108,000
An 1890 Eagle, PCGS PR-64DCAM – $108,000 — an auction record for this proof issue
An 1867 Liberty Eagle, PCGS MS-62 – $99,000 — an auction record for this date and mintmark
At the end of the day, The Hansen Team purchased both eagles in bold above. I will feature the 1890 Proof today, and the 1867 MS62 in a couple days. You need to wait a little longer to see that coin.
1890 Eagle, PCGS PR-64DCAM, CAC, Ex: Northern Lights of Vermilion Collection
PCGS describes the Liberty Head $10 Gold, Proof (1859-1907) set as: The No Motto $10 gold pieces of 1859-65 and the With Motto pieces of 1866-1907 come together in this incredibly challenging and rewarding set of rarities. The highest mintage of any coin in the set is 120 pieces, so you know that you're in for some work (and some fun!) in the pursuit of completion. The recognized classic is the 1875, but there are other dates that are proving to be just as rare in the Proof format. Let’s start a set! John Brush earlier stated his desire to acquire the 1875 Eagle in this sale but was unsuccessful. As a consolation prize, he was able to acquire the much-needed 1890 Proof Eagle.
The 1890 eagle proof reports a mintage of 63. CoinFacts Rarity and Survival Estimate is 30 for all grades, including five that are PR65 GEM or better. This GEM count may be low due to NGC population report has six graded PR65 and six more graded MS66. The PCGS population report does not come close to that number. The PCGS report has four GEM proofs.
Of those four 1890 PCGS GEM proof eagles, two are graded PCGS PR66DCAM. One of finest known is a PR66DCAM PCGS from the “The World’s Most Valuable Private Coin Collection, the Eagles of the Tyrant”, described as one of one of the finest. The other PCGS PR66DCAM is not known to the public. There is one PCGS PR65DCAM from the Flannagan Collection last appearing in the Long Beach Signature US Coin Auction on Jun 3, 2011. The fourth and last PCGS GEM is a PR65 that is also a mystery. PCGS CC#5 is the Hansen / Northern Lights, PR64DCAM, CAC.
A Stacks Bower catalogers wrote in 2017: This issue commences a run of more available Proof eagles that continues through the end of the Liberty Head series in 1907. However, in an absolute sense, all Proof Liberty Head eagles are rare... One of just 63 Proofs struck, survivors of which number no more than 30 to 35 specimens in all grades. This coin gets the Hansen Collection one step closer to completing a run of “more available Proof Eagles”. The Hansen run is currently from 1886 to 1907 with only one eagle missing, the 1896.
The Heritage cataloger description is short for this coin. The one paragraph states: With a stated mintage of just 63 proofs and only 25 to 30 individual coins believed known today, the proof 1890 ten dollar coins are rarities in any condition, much less with the quality and contrast seen on the present specimen. The bright yellow-gold color takes multiple forms, frosted to Deep Cameo standards over the devices and deeply mirrored through the fields; the fields also show a degree of orange-peel texture. A handful of faint hairlines combine to account for the grade, but the all-around visual appeal is impressive, as is only proper for what Walter Breen called "a coiner's caviar."
I will post one more update from the Heritage 2022 Long Beach Expo US Coins Signature Auction. The next feature coin is also an Eagle, but not a proof. As a hint, sometimes this coin is referred to be from the Post Civil War Reconstruction Era. I recently saw a thread by @semikeycollector asking to post one, so I will post Hansen’s recent eagle purchased at Long Beach. No more hints, just watch for the next posting.
Provenance: US Coins & Platinum Night FUN Signature Auction (Heritage, 1/2012 as NGC PR64 Ultra Cameo), lot #4989, realized $29,900; The Northern Lights of Vermilion Collection / Long Beach Expo US Coins Signature Auction (Heritage, 10/2022 as PCGS PR64 Deep Cameo), lot #3279, realized $108,000 (Auction Record), The D.L. Hansen Collection.
1890 Eagle, PCGS PR-64DCAM
PCGS POP 1/4, CAC Approved
Certification #38460695, PCGS #98830
PCGS Price Guide $50,000 / $108,000
Ex: Northern Lights of Vermilion Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
I'm sorry but (IMHO) even at 68+ it's just not a good-looking coin.
Smitten with DBLCs.
I wouldn't kick her out of bed
Heritage 2022 Long Beach Expo US Coins Signature Auction (Part 2 of 2)
This is the final posting on the Long Beach Expo event. A couple days ago, I featured the 1890 Eagle, PCGS PR-64DCAM from The Northern Lights of Vermilion Collection. This coin and the much-discussed 1875 Eagle were not the only highlights. Coin Update website described other specimens as: The event’s top lot (1875 Liberty Eagle) was one of 105 sold from the Allan H. Goldman Collection. A prominent New York real estate investor with a passion for both coins and American currency, Goldman also was a passionate collector. The lots in this auction mark the second installment of his collection offered through Heritage; Part I was presented during Heritage Auctions’ July Long Beach/Summer FUN Signature auction, in which these fresh-to-market coins generated exceptional results.
Also, one of our community members placed a magnificent set of Proof Seated Liberty Dollars in the sale that results in big numbers: Three lots from the Perfection Collection of Proof Seated Liberty dollars drew winning bids of $90,000 or more, including an 1863 Liberty Seated dollar graded PCGS PR-67+CAM and an 1866 With Motto dollar certified PCGS PR-67CAM that each drew a winning bid of $96,000, and an 1860 Liberty Seated dollar graded PCGS PR-67CAM that brought $90,000. The 1860 and 1866 With Motto dollars set new auction records for those issues. As previous reported, I had identified 19 coins from the offering of 1523 lots. Of these 19, John Brush and the Hansen Team was successful in winning four. They are shown in table below.
I believe at this time; Dell Loy Hansen is hooked on gold. Of the 19 coins, six coins were non-gold with none of them purchased. In a recent Legend Market Report, they stated: We normally do not make general public recommendations. BUT we think the timing is right: BUY BETTER GOLD COINS NOW. Yes, gold coins have been strong for the last 2 years. This is certainly what we are seeing as a pattern in Hansen purchases. He is buying “better gold coins”. He has a choice of series to buy, including, G$1, $2.5, $3, $5, $10, and $20 in Basic, Majority Varieties and Proofs. That translates to a wide-open gold market for US issued gold coins. The Hansen Eagle Collection is ripe for the improvement opportunities. We saw an Eagle proof addition in the last posting, today is an upgrade to the mint state eagle set.
The entire mint state Liberty Head Eagle set is 184 coins. The set is described by PCGS as: This long, long series stretches from the time when Abe Lincoln was less than 30 years old to the years when Teddy Roosevelt was in power. The set is filled with rarities, but there are no so-called "impossible" coins as are seen in many other series. The classic rarity is the famed 1875. This set involves three distinct types: the No Motto Covered Ear, the No Motto and the With Motto. The "Varieties Set" of this great series is not that different from the Basic Set. Yes, there are a few goodies to add to the Basic Set, but well over 95% of the work and fun are done before you get to the varieties.
In the PCGS Registry, The D.L. Hansen Collection is #1 All-Time and 100% complete. The last discussion on this set was back in April 2022 during a Fairmont Collection-Hendricks update. The Eagle set is creeping closer and closer to having a MS60 GPA with bonuses. As you can see above, the second set in the registry was part of the once famed Bob Simpson Collection assembled by Laura Sperber, Legend Numismatics which retired in May 2011. There are two other notable sets in the registry: The Ellen D set that also retired in 2011, and the Harry Bass that retired in 1999. These and other great sets provide opportunities for Mr. Hansen to build his collection during the past six years.
There are several masterpieces in Hansen’s set including 15-16 coins that I estimate to be six-figure eagles. I would consider the center-piece eagle as the 1839/8 $10 “Type OF 1838” PCGS MS66, Cert #05368072. This seven-figure coin has been in the Hansen Collection about 5-6 years dating back to an early purchase from Barry Stuppler. I must clear the water by the acknowledgement that the Hansen Collection of Liberty Head Eagles is not the finest set currently assembled. The Eagles of The Tyrant Collection is described as "far and away" the finest US Eagle Collection. In a Doug Winter blog, he indicated the set was assembled around 2003/2004. The set consist of both PCGS and NGC coins, so making a direct comparison with Hansen’s PCGS set is time consuming. It is very safe to say that the Tyrant Set has more specimens of best-known examples of US Eagles. Today’s feature coin is a PCGS MS62 sole finest specimen. In comparison, the Eagles of the Tyrant specimen is a PCGS MS61 specimen from #2 Bob Simpson set. In a Tyrant description, the coin is stated as: has a great pedigree, coming from the Hall and Simpson Collections. Therefore, Tyrant does not have all the top eagles.
This coin was produced two years after the end of the US Civil War. In some circles, the moment in time is referred to as Post Civil War Reconstruction Era. The era was the period after the American Civil War from 1865 to 1877, during which the United States struggled with the challenges of reintegrating the southern states which had seceded. All the southern US mints (Charlotte Mint in North Carolina; Dahlonega Mint in Georgia; New Orleans Mint in Louisiana) were closed in 1861. Two were closed permanently and the New Orleans did not reopen to 1879 after reconstruction. Let’s dig a little deeper in this coin.
1867 Liberty Head Eagle, PCGS MS62, Ex: Northern Lights of Vermilion Collection
Expert David Akers describes the coin as: The 1867 is considerably more rare than the 1866 and the difference in rarity is greater than the small difference in mintages might indicate. Actually, it compares favorably in both overall rarity and condition rarity to the 1864 and 1865. Several AU's are known but only the Wolfson coin was ever catalogued as uncirculated. However, it was described as having rubbing in the fields and so it may not have really been a mint state coin.
Now fast forward in the TPG era, the 1867 eagle reports a mintage of 3090. CoinFacts Rarity and Survival Estimate is 65 for all grades, with no specimens grading Choice GEM MS63 or better. NGC population reports shows only four graded mint state, three graded MS61 and a lone MS62. Similar, PCGS has five graded mint state: two MS60, two MS61, and the sole finest PCGS MS62. Several of these nine minted graded specimens could be resubmission. The top Five PCGS coins are:
1 - Hansen / Northern Lights Specimen, PCGS MS62 Cert #37807949
2 – Simpson / Hall Specimen, PCGS MS61 Cert #29583060 Current in the Tyrant Collection.
3 – 2016 ANA Specimen, PCGS MS61 Cert #25625301
4 - Hansen Duplicate Specimen, PCGS MS60 Cert #35368161
5 - Unknown Specimen, PCGS M60
In the Heritage 2022 Long Beach Expo US Coins Signature Auction, the cataloger adds some additional clarity to my research: In the case of the 1867 ten-dollar gold piece, only 3,090 coins were manufactured in circulation-strike format. That was down nearly 18% from the previous year, which coincided with the introduction of the motto IN GOD WE TRUST on the reverse. The 1867 eagle remains an underappreciated rarity despite its enticingly small mintage. Only 90 to 130 examples are believed to exist in circulated grades according to Dave Bowers' A Guidebook of Gold Eagle Coins (2017). There are another four to six pieces believed extant in Mint State. This is the finest among them. The PCGS Population Report shows two submissions in MS60, two more in MS61, and this sole finest representative in MS62, which, as far as we can tell, has not been offered publicly, at least not in this top-notch grade. NGC lists another single MS62 coin that has not been offered for sale at auction (again, as far as we can tell), and it may represent the same coin.
I mention earlier the period in our country called Post Civil War Reconstruction Era. Heritage expanded a little in the coin description: Despite the resolution of the Civil War in 1865, silver and gold remained unseen in the channels of commerce in the East through 1878. The larger gold denominations like the eagle and double eagle were mainly used for business transactions or for export, not regular day-to-day activity, and they continued to trade at a premium to paper currency, which dominated the economy.
As we walked through the rarity of this coin, I hope you got a feel for difficult of this eagle in mint condition. Also, The Hansen Collection already had a couple nice specimens. Previous to this purchase, the Hansen top coin was a PCGS MS60, POP 2/3. The coin that was in his duplicate set was a very nice AU58, POP 7/5. It appears Mr. Hansen desired a better specimen, and he popped a $100K bid on a coin that Heritage describes as: This top-graded 1867 Liberty eagle displays frosty luster around the borders and relief elements that illuminates practically fully struck devices. Alternating shades of lighter and darker orange-gold color each side. Luster is just a bit subdued in the open fields, where scattered marks are present, holding back the grade. Either way, it would be impossible to upgrade this Registry Set essential.
Provenance: The Northern Lights of Vermilion Collection / Long Beach Expo US Coins Signature Auction (Heritage, 10/2022 as PCGS PR64 Deep Cameo), lot #3253, realized $99,000 (Auction Record), The D.L. Hansen Collection.
1867 Liberty Head Eagle, PCGS MS62
PCGS POP 1/0, Sole Finest at PCGS
Certification #37807949, PCGS #8651
PCGS Price Guide $65,000 / $99,000
Ex: Northern Lights of Vermilion Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Beauty is in the eye of the beholder. I bet the coin outstanding in hand!
I was referring to the series. Again, just my opinion but the design is uninspired, the fields are of too much acreage and the strike is typically weak. The Barber dime of gold coins…
Smitten with DBLCs.
Steven L. Contursi - Rare Coin Wholesalers (1 of 4)
Due to our firm’s private placement of billions of dollars of U.S. rare coins, we hold a unique market position as we are a trusted resource for many dealers and high-end collectors who are searching for the ultra-rare U.S. coins. These relationships have been very beneficial to our firm over the years, and we have developed many great friendships. – Our Story, RCW website
Rare Coin Wholesalers has been and still is a major source for the D.L. Hansen Collection of US Coinage. It is common knowledge that Barry Stuppler was Hansen’s original dealer in 2016 which was Hansen’s first year. As business relationships come and go with many dealers, it appears that Rare Coin Wholesalers have been consistent for the entire life of the Hansen collection, so far. There could be many reasons, but in reading the company’s model biography, it very well could be the importance of relationships and friendships. The Hansen and Constursi relationship appear to have started in the summer of 2016 with the sale of the MCMVII (1907) Proof Ultra High Relief double eagle. On their company timeline, they state, “America’s most beautiful coin”, the finest known and highest graded 1907 “Ultra” High Relief Saint Gauden was purchased in 2012. Four years later, Michael Contursi sold the coin to a new collector for reported more than three million dollars. His father, who world renowned numismatist Steven Contursi is the founder and CEO of Rare Coin Wholesalers.
Who would have known that in the summer of 2016 that Dell Loy Hansen, a new collector was on a mission to assemble one of the most amazing collections of all-times? The coin that was purchased in that private transaction in 2016 still remains the center piece of the Hansen Collection. PCGS currently values the coin at $5,000,000. That price should be tested in the upcoming months. D.L. Hansen owns the PR69 Extremely High Relief Lettered Edge. The sister lady is the Extremely High Relief Inverted Edge Letters that was recently graded PR69 by PCGS. This coin will be offered by public auction in August 2023. Will it reach the $5,000,000 mark, or break through and go much higher? Let’s watch and see what happens.
The 2022 ANA Auctions and the Bass Part 1 Sale were big events for Hansen and his team. I have been watching to see if he takes a break before the FUN Sales that will occur in January 2023. Well, it appear he did not take a break. There are hundreds of coins that comes into collection that I don’t mention. If the coin is not six figures or significant in some way, I don’t feature the coin. I have been tracking these private transactions since the Bass Sale. Excluding David Lawrence Rare Coins, the largest source for upgrades may have been Rare Coin Wholesalers. I don’t think this is new, rather it have been consistent since the beginning of the collection in 2016.
Rare Coin Wholesalers seen to be a good fit for providing needed coins to the Hansen Collection. They advertised on their website as: Our firm is a multi-generational family business that handles the most elite and sought-after treasures in the United States rare coin market. We specialize in museum quality trophies and maintain the largest active inventory in the world. They do have one of the best inventory of coins that Hansen could use for upgrades. The statement of being “museum quality trophies” is an interesting comment. If so, then Hansen is acquiring a large number of them. Case in point, the Hansen Team purchased a 1903 Half Eagle PR67+ CAM. The coin is a PCGS POP 2/0, and certainly a great upgrade to the collection. To confirm the “museum quality trophies” specimen, it is from the “Important Selections from The Bob R. Simpson Collection, Part I” sale.
1903 Liberty Half Eagle, PR67+CAM, Ex: Bob Simpson
Elusive Cameo Specimen, Tied for Finest at PCGS
The Heritage cataloger described the US Mint output as: Production of proof Liberty half eagles dropped slightly in 1903, to 154 pieces, but the business-strike mintage was a robust 266,870 specimens, so there was never any date pressure on the issue. The proofs were delivered in the usual quarterly batches of 62, 19, 9, and 64 examples. A single die pair was used to strike all the proofs, with strong die polish in the lower parts of the clear spaces in the shield and a polished area around WE in the scroll. John Dannreuther estimates the surviving population at 90-110 examples in all grades.
This is not particular rare proof. The mintage is given as 154. CoinFacts estimates approx. 110 coins survived with about 20 GEM or better. PCGS has certified 17 GEM in the recent population report, with eight carrying the cameo finish. There are four PCGS PR67 certified, with two carrying the +. One of the finest is now in the Hansen Collection and the other is credited to the Cherry Blossom Collection.
In the Heritage - Simpson sale, the cataloger describe the coin as: This magnificent Plus-graded Superb Gem exhibits razor-sharp definition on all design elements, with intricate detail on Liberty's hair and the star centers. The rich yellow-gold surfaces are impeccably preserved and the deeply mirrored fields contrast boldly with the frosty devices. The field/device contrast is even more noticeable on the reverse. Overall eye appeal is terrific.
There is a good reason for not having any coins graded with a DCAM finish. Heritage offered: The Mint revised its method of proof coin production in 1902, changing from an ideal coinage showing deeply mirrored fields and thickly frosted, contrasting devices to a format with little to no contrast, one that Walter Breen memorably calls "semi-brilliant." Any mint frost remaining on the devices was the result of happenstance rather than planning. Only the first few coins struck with the dies retained any semblance of cameo contrast. PCGS has certified a total of 64 proof 1903 half eagles, but only nine coins have earned a Cameo designation, and no Deep Cameo PCGS specimens have been graded (5/20).
At the end of the day, there are two top coins stands on top of this production. The Hansen coin is one of them and is described as: This magnificent Plus-graded Superb Gem exhibits razor-sharp definition on all design elements, with intricate detail on Liberty's hair and the star centers. The rich yellow-gold surfaces are impeccably preserved and the deeply mirrored fields contrast boldly with the frosty devices. The field/device contrast is even more noticeable on the reverse. Overall eye appeal is terrific.
This magnificent specimen replaces a very nice GEM Proof. The coin that was in the Hansen Collection was a PR65+ PCGS, POP 1/10. The collection should be able to rest easy now with a tied for finest known PCGS Top Five specimen.
Provenance: Ex: US Coins Signature Auction, Long Beach (Heritage, 9/2012 as PR67 Cameo PCGS), lot 4960, realized $70,500; Important Selections from The Bob R. Simpson Collection, Part I (Heritage 9/2020 as PR67+ Cameo PCGS), lot 10141, realized $55,200; Purchase in Private Transaction from Rare Coin Wholesalers (Listed 9/2022), D.L. Hansen Collection.
1903 Liberty Half Eagle, PR67+CAM
PCGS POP 2/0
Certification #40542337, PCGS #88498
PCGS Price Guide $105,000 / Ask $109,500
Ex: Bob Simpson
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Steven L. Contursi - Rare Coin Wholesalers (2 of 4)
By far the largest sole source for coins coming into the Hansen Collection is David Lawrence Rare Coins. I have not fully analyzed the impact at this time, but it appears with the exception of DLRC, Steven L. Contursi and Rare Coin Wholesalers may be the next largest private supplier. If not by volume, then certainly by value. I shared a couple days ago that RCW sold the multi-million dollar 1907 “Ultra” High Relief Saint Gauden to D.L. Hansen in 2016. It appears his loyalty to this company has continued non-stop to today. Since the ANA Auctions a couple months ago, I have tracked 17 coins purchased from RCW.
Being a seven-year reliable customer that D.L. Hansen has been, I doubt he pays internet ask prices. Which leaves us with the only way we can analyzed these private transactions are with PCGS Price Guide Values. So, looking at 17 coins that I have identified purchased in September and October timeframe, value range is from $8,500 to $210,000. The total PCGS value is $863,500. The result is average per coin of approx. $50,000. Now to be mind-blowing. If you plot this value for 72 months from mid-2016 to end of October 2022, the result is $32,000,000. This is just for fun, because two months is not a large enough sample set. But the point is that adding to a collection over a long period of time (in this case 72 months) can build incredible value. In addition, this is from one sole source. Just think about all the other sources that this collection is buying from on a monthly basis. This was fun exercise with no claim to accuracy, but I think it can be said that D.L. Hansen is a pretty good customer of Steven Contursi and Rare Coin Wholesalers.
I share this little crazy exercise to make point that the large and attention-grabbing auctions are certainly important, but this collection is not just waiting for auctions to buy. It is a daily churn. This daily, weekly, monthly, yearly, and continuing upgrading creates the bulk of this collection. A few years ago, it was publicly communicated the collection comprised 12,000 PCGS certified coins. I think the collection has grown larger since that announcement.
1865 Three Dollar Proof, PR65CAM, CAC, Ex: Chinook Collection
Only 12 to 14 Pieces Known
David Akers writes on this rarity: Proofs are very rare, with perhaps only 10 to 12 out of the original 25 minted still in existence. A very interesting restrike of this date also exists. It is listed in Dr. Judd's book as J-440, and in Adams and Woodin's book as AW-480. It was struck using the obverse die of 1872 and was probably minted sometime in 1873. Only two pieces are known; one of them is in the Wilkinson Collection and the other appeared in the Farouk Sale in 1954. The restrike is easily distinguishable from the regular issue proofs by the fact that the date slants noticeably up to the right and the first three digits of the date are very weak, while the 5 is sharp and bold.
All specimens of 1865 Three Dollar Proofs are rare. The D.L. Hansen Collection already had a low-grade specimen, PCGS PR61. This POP 2/13 coin was purchased in 2018 timeframe. The new PR65CAM specimen last appeared in a 1/2020 Heritage Auction. The rarity was described as: JD-1 represents the original proof dies of 1865, used to strike 25 coins in March of that year. The date is centered below DOLLAR, with the upright of the 1 below the left base of the first L. Two restrikes (circa 1869-1870) exist from different dies, showing the date further left with an upward cant to the right. John Dannreuther estimates that only 12 to 14 original proofs survive. Duplication is likely represented in the 21 coins reported by NGC and PCGS. We have previously handled a proof 1865 three dollar gold piece on only four occasions. Two of those appearances were more than two decades ago. The other two were in the recent FUN Signature (Heritage, 1/2019), lots 4640 and 4641. One of those coins was a JD-1 Original, graded PR60 NGC, the other a JD-2 Restrike, graded PR61 NGC. This Gem Cameo Original surpasses them both by leaps and bounds in terms of quality.
This coin is a very solid PCGS Top Five (6) coin. They coins are:
1 - Simpson Specimen, PR66 Cameo PCGS, Cert #44160846
2 - B Henry Specimen (Registry Set), PR66 Cameo PCGS, Cert #25004330
3 - Hansen Specimen (Registry Set), PR65 Cameo PCGS, Cert #43783381
4 - Bender Specimen (Registry Set), PR65 Cameo PCGS, Cert #25599500
5 - Trompeter Specimen (Registry Set), PR65 Cameo PCGS, Cert Unknown
6 - Bass “Restrike” Specimen, PR65 Cameo PCGS, Cert #46094733
Heritage (7/2022) describe the coin condition as: Bright yellow-gold surfaces yield sharp, frosty design elements and liquidlike glimmering fields. There is some mint-made planchet roughness near the U in UNITED, but there are no post-mint imperfections. There are a couple of interesting pedigree identifiers, a product of strike-throughs in the mint. One is a sideways S lintmark through the first S in STATES, and the other is a tiny upside-down V strike-through above the first A in AMERICA. Contrast is strong and well-balanced from side to side. This is one of the landmark rarities in this year's FUN Signature Auction, and it represents a seldom-offered opportunity to acquire a high-end example of this rarity.
In an interesting turn of events, the Hansen Team decided not to wait to bid on the Bender or Bass Specimens. Although, the Bass specimen is a restrike example and still may be in play. I am not sure if the restrike coin fits into the Hansen plan for his core collection. It is required in the 39-piece Three Dollar Proof Gold set. We will have to wait and watch.
Provenance: The Chinook Collection / Central States (CSNS) US Coins Signature Auction (Heritage 4/2019 as PR65 Cameo NGC), lot 3853, realized $48,000; FUN US Coins Signature Auction (Heritage 1/2020 as PR65 Cameo PCGS), lot 4384, realized $55,200; Purchase in Private Transaction from Rare Coin Wholesalers (Listed 9/2022), D.L. Hansen Collection.
1865 Three Dollar Proof, PR65CAM
PCGS POP 3/2, CAC Approved
Certification #43783381, PCGS #88028
PCGS Price Guide $82,500 Ask $98,500
Ex: Chinook Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Steven L. Contursi - Rare Coin Wholesalers (3 of 4)
About once per year, The Hansen Collection upgrades a coin in the Capped Bust $2-1/2 Gold Basic, (1808-1834) Circulation Strikes set. Two years ago, we saw D.L. Hansen acquire a spectacular prooflike 1831 from the Bob Simpson Collection. Last year, he upgraded the 1832 Capped Bust Quarter Eagle with a very nice MS65. A complete collection of Early Quarter Eagles from 1796 to 1839 is only 31 coins. I sometimes focus on the heart of this 31-piece Early Quarter Eagles with “Cap Bust Series”. This 12-piece series runs from 1808 to 1834. The run consists of three types, starting with the one year only type, Large Bust. According to John W. Dannreuther: This date/variety/type has been popular for as long as there have been collectors of US coins. The quarter eagles did not reappear until 1821 with a new designed, Large Dentils Type. The mint produced coins for only five years between 1821 -1827. There were no quarter eagles minted with dates 1822 and 1823. After a one-year break in 1828, the third type, Small Dentils was produced from 1829 to 1834. Coins were produced in each of the six years. `
There is a PCGS Registry set that represents this 12-piece gold collection, Capped Bust $2-1/2 Gold Basic Set, Circulation Strikes (1808-1834). Only four sets represent the PCGS All-Time Finest Registry, and two sets are current. The Harry Bass Collection is not represented because a couple of his coins were proofs. Brett Pogue had some great quarter eagles, but I believe his quarter eagle set was incomplete. Per the registry list, it appears, the Pogue group had an amazing GPA of 62.78 with two coins missing, 1832 and 1834 Capped Bust in mint state. I can see why the 1834 was missing, because there are no mint state specimens. That leave these four collectors to represent the series.
The D.L. Hansen Collection leads the way with the top set. I have to say that Tony’s earlyAurum set has started a slow decline since my last update on the series. He has sold off three coins in 2022 and have reduce to only six coins. The set still has an outstanding GPA of 61.61. I had once thought the earlyAurum could one day be the #1 All-Time Registry set. Now, I am not sure what Tony’s goals and plans are for the set.
With this new Hansen upgrade, the strength of the early quarter eagle collection continues to be in the type three, Small Dentils portion of the set. You may recall on April 4, 2019, I reported a new upgraded, 1830 Quarter Eagle MS66, PCGS POP 1/0. The coin was valued at $195,000 and was purchased in a private transaction from David Lawrence Rare Coins. Then last fall, Mr. Hansen purchased a quarter eagle out of the Bob Simpson Collection. The 1831 MS66+ Prooflike PCGS coin was purchased in 2021 for $240,000. Now, we see Mr. Hansen replaces his 1834 XF 45 Capped Bust Quarter Eagle, POP 1/10 with the new AU55 specimen from Rare Coins Wholesalers.
1834 Capped Bust Quarter Eagle, AU55, Ex: Fairfield / Goldman Collection
One of the rarest coins in the series ... The present coin appears to either be an impaired Proof or an impaired prooflike Uncirculated example with the overall sharpness an characteristics of the AU grade. Prooflike surface abounds, including in a generous area within the shield stripes. A classic American rarity, the 1834 with-motto is deserving of much more fame than it has received in the past. It is several times rarer than any other quarter eagle of its era - Fairfield Collection presented by Bowers and Ruddy Galleries (10/1997)
Expert David Akers describe the coins as: The mintage for the 1834 With Motto quarter eagle is similar to the mintages for the other five dates of this type. However, the Mint Act of June 28, 1834 significantly reduced the gold content for quarter eagles and half eagles and, therefore, it is probable that the vast majority of the 4,000 minted were melted and never released. This is definitely one of the half dozen or so rarest quarter eagles, and, as is apparent from the auction data, specimens are offered for sale only once every few years. I have never seen a fully mint state piece. The total number known is difficult to say for sure, but I would estimate it to be on the order of 12 to 15 pieces.
Mr. Hansen purchased this coin from Rare Coin Wholesalers to replace his 1834 XF 45 Capped Bust Quarter Eagle, POP 1/10. Purchased in the 2017 timeframe, this coin has played a long-time role in the collection. The Fairfield / Goldman AU55 prooflike specimen is a nice upgrade. Just outside of PCGS Top Five, the coin is not one easily found. Heritage (7/2022) describe the rarity as: The 1834 With Motto is the rarest early quarter eagle in the series. While the issue has often existed somewhat in the shadow of other popular quarter eagles such as the 1796 No Stars, the 1841 Little Princess, the 1848 CAL., the rare 1854-S, and the proof-only 1863, times seem to be changing. In January 2019, an AU53 NGC example brought $138,001 in Heritage's FUN Signature sale as lot 4617, which is by far the current record price for an 1834 Capped Bust quarter eagle. All of which bodes well for the present coin that is one notch better on the grading scale, a Choice About Uncirculated coin certified AU55 PCGS.
The Heritage catalog shared some thoughts behind the rarity: All extant 1834 quarter eagles with the motto "E. PLURIBUS UNUM" above the eagle are standout rarities in the U.S. gold series. They were famously struck just before Congress officially changed the weight and fineness of gold coins in June of that year. Virtually the entire 4,000-piece mintage remained in possession of the Chief Coiner and, with a few exceptions, those coins were never distributed. Rather, nearly all 1834 Capped Bust quarter eagles went straight to the melting pot. Any pieces that escaped into public hands were worth some 6.4% above face value (an immediate profit of about 16 cents per coin) -- reason enough for the Mint to make the Capped Bust type obsolete, replaced by the lighter weight Classic Head series with no reverse motto.
In the 2022 sale, Heritage did not use the word prooflike in their description: The fields are indeed reflective throughout both sides of this Choice AU specimen. The strike is sharp overall, although slightly weak at the centers where a few faint adjustment marks angle across the eagle's shield. Vibrant orange-gold color features lilac highlights on Liberty's portrait. Light field abrasions confirm a short stint in circulation. A pair of tiny digs above the top olive leaves serve as a useful pedigree marker when viewing the coin under magnification. Although, in a historical account, the cataloger writes: Heritage has handled this exact example once before as the finest of three 1834 With Motto quarter eagles consigned by the Diocese of Buffalo -- an amazing accumulation, probably never to be duplicated, from an anonymous benefactor who donated his immense collection to the Diocese. The most recent appearance we can document for this coin was in a 2004 ANR auction, almost 18 years ago. We anticipate a bevy of strong bids when this mostly prooflike, sharp, and attractive 1834 With Motto two-and-a-half dollar gold is called.
At this point in time, it appears that Steven L. Contursi, his son and team at Rare Coin Wholesalers have access to an unlimited number of coins that are great opportunities to improve this D.L. Hansen Collection. We will continue to watch as see if the Mr. Hansen stays on course for using this company as a source for his collection.
Provenance: Arthur Lamborn; The Fairfield Collection (Bowers and Ruddy, 10/1997), lot 1461; Auction '80 (Paramount, 8/1980), lot 242 (color plate); The Dr., Byron C. Pevehouse & Lester Gann Davis Collections (American Numismatic Rarities, 10/2004), lot 698; The Allan H. Goldman Collection / Long Beach Expo/Summer FUN US Coins Signature Auction (Heritage 7/2022 as AU55 PCGS Cert # 06550535), lot 3207, realized $144,000; Purchase in Private Transaction from Rare Coin Wholesalers (Listed 9/2022), D.L. Hansen Collection.
1834 Capped Bust Quarter Eagle, AU55
PCGS POP 3/6, Fewer Than Two Dozen Examples Survive
Certification #46295780, PCGS #7674
PCGS Price Guide $210,000 / Realized Unknown
Ex: Fairfield / Goldman Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Steven L. Contursi - Rare Coin Wholesalers (4 of 4)
The final Rare Coin update is a true expansion coin in the early Seated Liberty Half Dime Proof set. The early sets are extreme difficult to assemble with proof finish. For example, the Liberty Seated Half Dimes, Proof (1837-1857) set is described as: This extremely challenging 22-coin date set is filled with rarities and distinctive type coins. The 1837 No Stars is a classic that many consider to be an artistic masterpiece as well as a numismatic treasure. Additional types in this series are the With Drapery and Arrows at Date pieces. The Proofs struck in 1854 and later are more readily available but are still considered to be quite rare.
A couple points to make on the D.L. Hansen Collection. First, the 1837 artistic masterpiece is certainly a show coin. The Ex: Pittman / Kaufman specimen is approved for the CAC sticker. PCGS graded PR66 specimen has been described as "a coin with a beautiful blue, red, and gold patina". The Hansen Team purchased the coin in 2017 from The D. Brent Pogue Collection, Part V sale. There is only one coin finer than the Hansen POP 1/1 coin which is the Eugene H. Gardner PR67 specimen. This coin makes for a very nice start to the 22-piece set.
Second, the PCGS proof set required three No Drapery half dime coins. These coins continue with the theme of set difficultly. Starting with the 1840 No Drapery PR65 Proof, the first ND Hansen purchased of this type. The 1840 specimen was acquired in early 2017 in a private transaction from Aspen Park. By a CoinFact image, the coin is also from the Phil Kaufman Collection. It was last sold in a Heritage 2014 Auction from the Greensboro Collection. The Hansen coin is one of two finest specimens, with only five or six examples are known, including three other Gems. The second finest specimen is from the John Jay Pittman Collection. With the recent purchase of the 1839 from Rare Coins Wholesalers, the Hansen set now have two of the three No Drapery proof half dimes.
As can be seen, there is only six PCGS specimens certified for all No Drapery Proofs. The missing No Drapery coin in the Hasen Collection is the 1838. There may be three distinct specimens known. Along with the 1838 No Drapery, the22-piece set is missing three other coins. The four missing coins are listed below:
1838 No Drapery - Three Distinct Specimens Known, Finest Pittman PR67 PCGS
1840 - Possible 4 known, Finest PR65 PCGS
1851 - Possible 2-3 Known, None Currently PCGS Certified
1852 - Est. 5-10 known, Finest Benson Collection PR66 PCGS
The 1851 coin may be the most questionable of the four. I do think obtaining a PCGS gradable specimen is possible. In the 35 years of PCGS grading, there has been one in a PCGS holder. The John Jay Pittman specimen was at one time certified PR64 PCGS. The Louis E. Eliasberg, Sr. PR66 may be a PCGS certifiable candidate, but has not been crossed. We will have to watch and see if the Hansen Team will be able to place a 1851 specimen in this set at some point in the future.
The Hansen early proof sets in both silver and gold are the most interesting to watch as this Collection continues down a path of growth. They are very challenging, but at the same time most awarding. Everyone understands and accepts that completing all these sets are truly impossible. There is a good chance we may see one or two of these difficult sets completed, and the Seated Liberty half dimes may be one of the sets. J.J. Pittman’s half dime proof set was 86.36% (Gardner or Kaufman better??) and the Hansen set is 81.82% with opportunity to get better. It will fun to watch.
1839 No Drapery Half Dimes, PR64
Only Five Proofs Known
Eugene H. Gardner was a Hall of Fame Collector. In a PCGS Bio, his collection was described as: Eugene Gardner was an aggressive collector of U.S. silver coins, with a particular emphasis on the Seated Liberty series. Heritage sold his collection of more than 3,000 coins in four separate auctions in 2014 and 2015, setting many records along the way. The total prices realized for his four auction was an astounding $52.8 million. Most of Gene’s coins were among the finest of their type and many were, indeed, the very best. He was a student of the different series he collected and, in an unusual move, Heritage integrated his personal notes into the catalog description of each coin. Sadly, Gene passed away on July 16, 2016, but not before he was able to oversee the orderly disposal of his beloved coins. He will be long remembered for his eye for quality, his willingness to “stretch” for the right coins, for his accomplishments as a collector, and, of course, for the incredible collection he built.
As mentioned in his bio, the emphases Mr. Gardner’s passion was placed on his Seated Liberty series. Heritage wrote in a 2015 description: An extreme rarity in proof format and among the most important coins in the entire Gardner Collection, this 1839 No Drapery half dime is one of only a handful of survivors
Roster of 1839 No Drapery Half Dimes (Heritage 2015)
1 - Gardner Specimen, PR65 Cameo PCGS. Rarities Night (Stack's Bowers, 11/2012), lot 3068, realized $55,813; The Eugene H. Gardner Collection III US Coins Signature Auction (Heritage 5/2015), lot 98189, realized $39,950.
2 - Kaufman / Greenboro Specimen, PR65 Cameo NGC. The Phil Kaufman coin, which appears different from any others here. It may be the April 1964 Stack's piece, lot 1011, although the quality of the plate precludes a definite match. Phil Kaufman Collection (Heritage, 4/2008), lot 2373; Greensboro Collection Part VI / New York Signature (Heritage, 2/2014), lot 5076, realized $32,900; E.B. Strickland Collection / FUN US Coins Signature Auction (Heritage 1/2018), lot 4798, lot $24,000.
3 - Menjo / Pittman / Richmond Specimen, PR65 NGC. Adolphe Menjou Sale (Numismatic Gallery, 6/1950), lot 108; John Jay Pittman (David Akers, 10/1997), lot 457, realized $12,100; Long Beach Connoisseur Collection (Bowers and Merena, 8/1999), lot 84, realized $29,900; Richmond Collection (David Lawrence, 3/2005), lot 1081, realized $33,500 .
4 - Mory Specimen, PR64 NGC. Paul S. Mory, Sr. Collection (Bowers and Merena, 6/2000), lot 423, realized $24,150; Ira and Larry Goldberg (5/2001), lot 472, realized $24,150. (Note: The Bowers and Merena cataloger states that this specimen resided for over a century in a collection formed by an attorney in Vicksburg, Mississippi, in the late 1800s).
5. - Lohr Specimen, Brilliant Proof. Major Lenox R. Lohr Collection (Stack's, 10/1956), lot 254; Stack's (1/1991), lot 40; Stack's (10/2002), lot 1155.
?? - Hansen Specimen, PR64 PCGS. Purchase in Private Transaction from Rare Coin Wholesalers, D.L. Hansen Collection. (Possible same as #4 or #5 above).
Additional appearances (Heritage 2015):
A. David Bullowa, May 1952.
B. Lester Merkin (4/1966), lot 71.
C. 1971 ANA (Stack's), lot 617.
In summary, there are only two 1839 graded by PCGS, the Gardner PR65 Cameo specimen and Hansen's PR64. On the other side of the fence, NGC have three certified, two PR65 and one PR64. This could lead to a conclusion the Hansen coin is the #4 or #5 coin in the roster. If the conclusion is that there are only five known specimens, then the Lohr coin must be in one of the third-party holders. It could be the Hansen coin, but even with this mathematical conclusion, the theory cannot be with certain without images for comparison. When adding the early appearances, there may be other possibilities for the provenance of the Hansen coin. I am still lending toward the coin is #4 or #5 on the above roster until I can get an image to confirm. I hope at some point in the near future I can get an image from the Hansen Team so this coin can be properly identified.
Provenance: Early Pedigree TBD; Purchase in Private Transaction from Rare Coin Wholesalers, D.L. Hansen Collection.
1839 No Drapery Half Dimes, PR64
PCGS POP 1/1, Only Five Proofs Known
Certification #45687875, PCGS #4409
PCGS Price Guide $37,500 / Realized Unknown
Ex: TBD
NO IMAGE AVAILABLE
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
John Brush – David Lawrence Rare Coins (1 of 3)
Mr. Brush directs the company with the help of an extremely dedicated staff of 20 employees. The management team has a cumulative total of over 80 years with the company while DLRC’s numismatic team offers 100+ years of experience. They are deeply passionate about all aspects of coin collecting. Whether the coin is $5, $50 or $5 million, they are here to serve the collector with the best quality, service, and price possible. Brush and the DLRC staff are also equally focused on bringing the latest technology advances to the hobby. – About Us, DLRC website
A few days ago, you were able to read a series of posts about Rare Coin Wholesalers and coins purchased for the D.L. Hansen Collection. To be honest, I have never purchased a coin from RCW. I am a modest collector and their coins do not work in my household budget. David Lawrence Rare Coins business model is not the same as RWC. As stated on their website, they offer coins from $5 to $5 Million. A few years ago when I was working on a lower graded mint state 1800 US Type set, DLRC was a great source for me. As you may be aware, the Hansen Collection requires coins from modern issues to multi-million dollar ultra-rarities. This results in a good relationship and perfect fit for both DLH and DLRC.
I do not know the story of John Brush and Dell Loy Hansen. With time, we may learn more about how they first met. We do know the story and timeline as publicly written on the David Lawrence Website. After working for the company for nearly a decade, John Brush became President of DLRC in December 2016. A few months later, John Brush was elected to Board of Governors of Professional Numismatists Guild. This was certainly a busy time for Mr. Brush. At some point, he met Dell Loy Hansen, and within twelve months, they created a partnership. By December 2017, John Brush and DLRC become curators of the D.L. Hansen Collection. As result, 2022 will conclude five years of DLRC involvement in assembling the Hansen Collection. Before this DLRC/DLH relationship, , it appear that Mr. Hansen worked directly with a number of dealers and sources for approximately 18 months for the second half of 2016 and most of 2017.
As for ultra-rarities, we saw the 1907 PR69 “Ultra” High Relief Saint Gauden that Mr. Hansen purchased from RCW in late 2016. By means of the partnership, DLRC and D.L. Hansen have purchased an 1804 Original Proof $1 for $2.64M, the Louis Eliasberg 1885 Proof Trade Dollar for $3.96M, and the Jerry Buss 1894-S 10c for $1.32M, just to name a few highlights. The most recent purchase was the Brett Pogue 1854-S half eagle that John Brush acquired for Mr. Hansen in a March 2020 Stacks Bowers sale. Without doubt, David Lawrence Rare Coins has become the primary source for the D.L. Hansen Collection from $5 to $3.96M.
The recent sale of 1878 Liberty Head Quarter Eagle, PR65DCAM to the collection is an example of the meat and potatoes that DLRC provides.
1878 Liberty Head Quarter Eagle, PR65DCAM, CAC
A Condition Census Rarity, One of Three Finest PCGS Certified
David Akers described the 1878 quarter eagle proof as: Proofs are extremely rare and the 1878 is, in fact, the rarest post-1859 quarter eagle in proof. At least I know of fewer examples of this date than of any other proof after 1859. I would estimate that only half a dozen or so remain in unimpaired condition, most of which are impounded in museums or prominent collections. Note: All 1878 proof gold is extremely rare even though the reported mintage is similar to that for some other years. Perhaps some of the sets were not sold and were subsequently melted.
A Heritage cataloger wrote in 2012: The recorded proof mintage for the 1878 quarter eagle was a tiny 20 coins, making it among the lowest-mintage proof gold coins of the post-1858 era (and tied with the proof 1877 and 1878 three dollar gold pieces). Garrett and Guth commented of the issue several years ago: "The Proof 1878 Liberty Head quarter eagle is another favorite date of the series, with just about 10 examples known today. Two examples are in the museum collections of the Smithsonian and the ANS. The chance to purchase this date in Proof rarely occurs. The last examples offered at auction were from the collections of Byron Reed, John Jay Pittman, and Harry W. Bass. The Pittman coin sold for $29,700 in 1998. Pittman purchased the coin from New Netherlands in 1948 for $55. Pittman was famous for purchasing less-famous, but very rare, coins when others did not appreciate them."
I have reviewed the published auctions and PCGS/NGC POP reports. As result, I offer this CC Top Five list for the 1878 Liberty Head Quarter Eagle Proofs. NGC shows three PR65 Ultra Cameo specimens active with none finer. I cannot confirm any of the NGC specimens and I know the Pittman is a duplicate. It is currently pedigreed in both census reports. Also, PCGS has three certified PR65DCAM with none finer. They could be the total representation of PR65DCAM/UC specimens. In other words, there could be as many as two additional duplicates. With that thought, I am able to confirm as many as three specimens. I ranked CC#1 starting with the PCGS CAC, next the former NGC CAC, etc.
My List of Condition Top Five 1878 Quarter Eagle Proofs are the following:
1 - Hansen Specimen - PR65DCAM PCGS, CAC, Cert #46250376 - Purchase in Private Transaction from David Lawrence Rare Coins, D.L. Hansen Collection.
2 - Pittman Specimen - PR65DCAM PCGS, Cert #27721430 - Ex: New Netherlands Coin Co. (6/8/1948), $55; The John Jay Pittman Collection (David Akers, 5/1998), lot 1839, $29,700; William D. Plumley Collection / US Coins & Platinum Night CSNS Signature Auction (Heritage 4/2012 as PR65 Ultra Cameo NGC, CAC, Cert #211088-00), lot 5224, realized $37,375. (Note: Both PCGS & NGC certification numbers are active for this coin).
3 - Good River Specimen - PR65DCAM PCGS, Cert #50191974 Ex: Good River Collection Part II; Denver Elite Auction, (Superior Galleries, 8/2006), lot 639, realized $32,570; US Coins & Platinum Night/ CSNS Signature Auction, (Heritage, 4/2012), lot 5223, realized $50,313; CSNS US Coins Signature Auction, (Heritage, 4/2018), lot 4321, realized $52,800 (Auction Record)
4 - Unconfirmed Specimen - PR65 Ultra Cameo NGC, Cert #Unknown - Shown in NGC POP Report. (Possible duplicate of one of the PCGS coins)
5 - Unconfirmed Specimen - PR65 Ultra Cameo NGC, Cert #Unknown - Shown in NGC POP Report. (Possible duplicate of one of the PCGS coins)
Note: Thanks to Ron Guth for his research in confirming the pedigree for CC#3 and dbldie55 for providing Cert numbers.
In time, maybe more information will become available and the two NGC Specimens on the list can be cleaned up. Also, it would be great to understand a little more on the origin of the Hansen Specimen. As for now, it does show that the Hansen Collection has picked up a very nice specimen from just a small handful of the top graded coins. We will continue watch the 49-piece Liberty Head $2-1/2 Gold, Proof (1859-1907) set as Hansen picks up his final four coins. In the meantime, I am sure we will see more upgrades with many of them via David Lawrence Rare Coins.
Provenance: Purchase in Private Transaction from David Lawrence Rare Coins, D.L. Hansen Collection.
1878 Liberty Head Quarter Eagle, PR65DCAM
PCGS POP 3/0, CAC Approve
Certification #46250376, PCGS #97904
PCGS Price Guide $70,000 / Realized Unknown
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
John Brush – David Lawrence Rare Coins (2 of 3)
Without doubt, David Lawrence Rare Coins is the primary source for Dell Loy Hansen Collection. Next month, David Lawrence Rare Coins and Dell Loy Hansen will celebrate the five-year anniversary of their partnership. This includes a business partnership in DLRC and the management of the vast Hansen Core Collection. This partnership has resulted in building one of the finest US Coin Collections to be assembled in the third-party grading era, including the last 35 years.
We have discussed the change in goals that was made by Mr. Hansen a few years ago. Several months ago, I quoted Mr. Hansen from interview from a segment named “A Behind-the-Scenes Look at the Hansen Collection”. The interview was part of the 2022 Newman Numismatic Portal Symposium, and I noted Mr. Hansen statement: Probably in ‘19, I made the hard decision that I am really going to go for best in grade.. really going to start to scrutinize the top coins for each date and grade.. asserted effort to buy those coins and upgrade those coins. Did having a partner like John Brush and the DLRC Team play into that decision. I think they did.
If you follow these updates and postings, you know how good the core collection has become in recent years. The US Entire Mint State Issues 1793 – Present Collection currently is 69 sets requiring 4558 coins. The core collection is 77.2% PCGS Condition Census Top Five. This includes 445 (9.8%) coins that are PCGS sole finest. Including the coins tied for finest at PCGS, the count increases (42.8%) to 1505 coins. The work required to locate, purchase, update, etc. with this number of coins is gigantic. After five years of hard work, it appears the DLRC Team is still up to the task. Since the ANA Auctions a couple months ago, I have tracked eight coins purchased from DLRC. There may be many more, but these are from the core sets.
Being DLRC and D.L. Hansen are partners in a private company, we have no knowledge in the business transactions that take place. As with all private transitions, we are left with the only way we can analyzed the sales are with PCGS Price Guide Values. So, looking at eight coins that I have identified purchased in September and October timeframe, value range is from $17,500 to $90,000. The total PCGS value is $440,000. The result is average per coin of approx. $55,000.
I did not list the modern coins in the table. Many of the modern updates and additions are provided by the DLRC Team. These updates are very time consuming and are not cost efficient. Mr. Hansen has stated on several occasions that his goal is to keep the collection up to date with new releases. This effort goes unnoticed in a collection of this value and size. It requires a lot of work under the surface.
With the DLRC Team working on this collection every day for the past five years, it has resulted in basically building the collection one coin at a time. As stated before, it is a daily churn. I would like to hear the new numbers in the collection. Several years ago, it was public communicated the collection comprised 12,000 coins. My guess would be 15,000 today. Also, keep in mind, David Lawrence Rare Coins have exclusive rights to the sale the Hansen duplicates. That is a whole another topic for another day.
1849-D One Dollar Gold, MS65, Ex: Tom Bender Collection
The Sole Finest 1849-D G$1 at PCGS (8/2021)
In Rarities Night Stacks Bowers, August 2021 ANA Auction, the cataloger characterized the coin as the Sole Finest. A little have changed in the past 15 months. Doug Winter best describes the coin as: The 1849-D is the most common gold dollar struck at the Dahlonega Mint. Like most first-year-of-issue coins, a number were saved as souvenirs. As a result, it is also the most available Dahlonega gold dollar in high grades. The 1849-D gold dollar is most often seen in Extremely Fine and the lower About Uncirculated grades. It becomes moderately scarce in the higher About Uncirculated grades. It is rare in Mint State but it is much more readily available in Uncirculated than any other Dahlonega gold dollar. The 1849-D is very rare in Mint State-62 and it is extremely rare in accurately graded Mint State-63. In 2021, there was only one PCGS graded GEM. The PCGS POP report now show three, but I believe to be incorrect.
By some accounts, there is one extremely high graded 1849-D One Dollar Gold specimen. That coin is best described by David Hall: There is an uncertified monster Gem example that Doug Winter saw years ago. Doug feels the coin would grade an incredible MS67. We should probably put this coin in the condition census as an "Estimate grade" MS67 or MS66. Mr. Winter expands the account by stating: At the 2001 American Numismatic Association convention held in Atlanta, an absolutely remarkable 1849-D was shown to me by an older gentleman. According to him, the coin had been in his family for at least seventy-five years. This coin, which I graded Mint State-66 to Mint State-67, had superb multi-hued coloration and was housed in an old manila envelope on which was hand written “1849-D Dollar, Brilliant Uncirculated Gem, $35.00.” I showed the coin to another dealer who was at my table and he agreed that it was the single most attractive Dahlonega gold coin that either of us had ever seen. I hope PCGS will one day have the opportunity to grade this coin. Until that time, this coin will remain a mystery.
In today’s census reports, there are four GEMs graded between the two major TPG companies. PCGS reports three MS65 and three just short of GEM at MS64. There is only one NGC graded MS65 and nine MS64. Including the monster mystery coin, I can only account for two other GEMs. As recent as last year, Stacks and Bowers described the rarity as: Extremely popular for mintmarked type purposes, the 1849-D is the premier gold dollar from the Dahlonega Mint. Just 21,588 examples were struck during this gold-rush year, and only about 300 of which survive for today's collectors. The vast majority of these show signs of handling and surface impairment, leaving only 35 or so survivors in all Mint State grades, most of which are in grades of MS-63 and lower. A certified MS-65 example like this jewel has never been sold at public auction, emphasizing the true significance of this offering for advanced Registry Set participants.
My List of Condition Top Five 1878 Quarter Eagle Proofs are the following:
1 - Georgia Collection Specimen - MS67 estimated grade -Reportedly seen by Doug Winter at the 2001 Atlanta ANA convention.
2 - Hansen Specimen – MS65 PCGS, Cert #46259614 - Rarities Night / ANA Auction, (Stacks Bowers 8/2021), Lot 4154, realized $78,000; The Tom Bender Collection / US Coins Signature Auction, (Heritage 8/2022 as PCGS Cert #41651797), lot 3808, realized $69,000; Purchase in Private Transaction from David Lawrence Rare Coins, D.L. Hansen Collection. (Note: Coin appears twice in PCGS Conesus as Cert #46259614 and #41651797. Both are active numbers)
3 - PCGS Private Set Registry Specimen – MS65 PCGS, Cert 04181163
4 - Unconfirmed Specimen – MS65 NGC, Cert #Unknown
5 - Twelve MS64 specimens (Three PCGS and Nine NGC)
As stated earlier, Stacks Bowers noted the coin was sole finest in August of 2021: This Gem is a monumental condition rarity from this historic and popular Southern gold issue. Sharply struck throughout, this beautiful example possesses strong luster and a semi-reflective finish. It is bathed in vivid golden-wheat patina with a natural planchet streak behind Liberty's hair that serves as a convenient pedigree marker. This MS-65 (PCGS) is one of the very finest known examples and ranks as the sole finest graded by PCGS. It represents the very pinnacle of preservation and simply cannot be improved upon. By the Bender sale, the coin had become a POP 2/0. Heritage cataloger stated: Lustrous sun-gold surfaces glisten when rotated in hand. The curls, stars, wreath, and legends all show razor-sharp design definition. A small planchet flaw behind Liberty's hair bun has no effect on the technical grade, and there are just a few tiny ticks near the 1 in the denomination. An incredible opportunity to obtain the finest 1849-D gold dollar on the Condition Census. Population: 2 in 65, 0 finer (6/22).
I personally believe the PCGS POP remains two in MS65 and none finer. In the five months since the Bender Sale, the Hansen/Bender coin has been resubmitted and given a new PCGS number. It appears to me, the old PCGS cert #41651797 was not properly retired. The coin replaces in the Hansen set a very nice PCGS MS63 POP 18/6, Cert #38196272 purchased in a private transaction from Rare Coin Wholesalers. When purchased in mid-2020, I would image this coin would have been a PCGS Top Five coin in the PCGS POP report. A two-half year life span in the Hansen Collection is not uncommon.
Provenance: Rarities Night / ANA Auction, (Stacks Bowers 8/2021), Lot 4154, realized $78,000; The Tom Bender Collection / US Coins Signature Auction, (Heritage 8/2022 as PCGS Cert #41651797), lot 3808, realized $69,000; Purchase in Private Transaction from David Lawrence Rare Coins, D.L. Hansen Collection.
1849-D One Dollar Gold, MS65
PCGS POP 3/0
Certification #46259614, PCGS #7507
PCGS Price Guide $90,000 / Realized Unknown
Ex: Tom Bender Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
John Brush – David Lawrence Rare Coins (3 of 3)
The final David Lawrence Rare Coins update is very nice early gold issue. Currently, D.L. Hansen’s 12-piece gold collection, Capped Bust $2-1/2 Gold Basic Set, Circulation Strikes (1808-1834) set is on the move. If you recall that just a few days ago with the discussion of purchases from Rare Coin Wholesalers, we saw the 1834 Capped Bust Quarter Eagle, AU55 replacement with PCGS Price Guide Value of $210,000. As recap, you may recall on April 4, 2019, I reported a new upgraded, 1830 Quarter Eagle MS66, PCGS POP 1/0. The coin was valued at $195,000 and was purchased in a private transaction from David Lawrence Rare Coins. Then last fall, Mr. Hansen purchased a quarter eagle out of the Bob Simpson Collection. The 1831 MS66+ Prooflike PCGS coin was purchased in 2021 for $240,000. Today is another private transaction from David Lawrence Rare Coins, the 1829 Capped Bust Half Eagle, MS64 with a modest PCGS Price Guide $85,000.
The Quarter Eagles Capped Bust set by far does not carry the same weight and status that the Half Eagles. The Capped Bust Half Eagles are massive and historic. A complete set would include the exclusive 1822. There is no Capped Bust Quarter Eagle come close to touching that coin. Even the famous 1808 Quarter Eagle don’t come close to several Capped Bust Half Eagles. PCGS Registry describes the quarter eagle set as: The early gold coins of the United States are among the most coveted and rarest items in the numismatic world. This is due both to extremely limited original mintages as well as prolific melting that took place during the late 1820s and early 1830s when the bullion value of the coins exceeded their face value. The Capped Bust Quarter eagles were struck intermittently during this period, with none made between 1809 and 1820. The 1808 is a one-year type coin, and consequently enjoys substantial demand from those seeking a complete US type set. Most of the remaining dates are about equal in rarity, but a nice AU or better example will run into the low five-figure range.
In doing a quick assessment of the twelve Hansen Capped Bust Quarter Eagles, the set have 50% six-figure PCGS Price Guide Value coins. The six coins range from $175,000 to the 1831 MS66+ PL valued at $400,000. The remaining six coins is in the low five-figure range from $30,000 to the 1829 MS64, valued at $85,000 that I am featuring today. I can one day foresee this set to be 100% six-figured specimens.
This is a good opportunity to revisit the score card for this set. As stated, a few days ago, there are only four sets which represents the All-Time Finest PCGS Registry, The two sets that are current are The Hansen and earlyAurum sets. Louis Eliasberg set, and The Norweb Family set are two retired sets listed in the registry. Other than being All-Time number #1, these are the other key indicators in the Hansen 12-piece set:
1 Coin --- PCGS POP 1/0, Sole Finest, highlighting the amazing 1832, PCGS MS65.
1 Coin --- PCGS Tied for Finest Certified, highlighting the incredible 1824/1, MS64, POP 2/0.
2 Coins - PCGS Certified One Finer, highlighting the astonishing 1831 MS66+ PL, POP 1/1.
1 Coin -- PCGS Condition Census Top Five, highlighting the remarkable 1826/'5, AU58, POP 6/4
This impressive set still has a way to go. The set is 41.7% PCGS Condition Census PCGS Top Five. The set still have seven coins that are not condition census which makes prime candidates for upgrading. The lowest graded coin in the set is the key 1808 PCGS AU53+, POP 1/36. The coin still has a PCGS Price Guide Value of $235,000! Let’s see today’s feature coin.
1829 Capped Bust Half Eagle, MS64, Ex: Cody’s Collection
Scarce, Low-Mintage Date
Expert David Akers comment: Although sometimes lumped together with the type issued from 1821 to 1827, the quarter eagles from 1829 to 1834 are a distinctly different type. The diameter is smaller and the thickness has been correspondingly increased. The borders are beaded and the head of Liberty has also been modified. The 1829, despite the fact it has the lowest mintage of the type, is the most common date and the most easily obtainable in gem condition since some were undoubtedly saved as souvenirs of the first year of a new design.
The coin appeared in a recent Legend Rare Coin Auction. In The Regency 49 sale, this coin was offered from Cody's Collection. The LRCA cataloger described the date as: Like all the early quarter eagle dates, the 1829 had a paltry mintage of only 3,403 of which John Dannreuther estimates a survival of 70-90 pieces, all of the BD-1 die marriage. This date marks an important transition in the history of the United States mint. Prior to 1829, coins were struck on an open collar press which did not allow for uniform diameters. In 1829, the mint installed new closed collar presses, and the diameter of the quarter eagle and half eagle became noticeably smaller. To fit these new presses, the design, originally prepared by John Reich in 1821 was slightly modified by William Kneass to fit the new dies.
PCGG POP reports only four GEM graded specimens, including two MS65, the Bass MS65PL and a monster MS67. This coin holds the auction record of $316,250 set during a Heritage’s Denver Platinum Night in August 2006. There is not much information on the coin other than Heritage described it as: Superb Prooflike Gem 1829 Quarter Eagle. The CC#2 specimen is a MS65PL from the Bass Foundation sale that recently realized $144,000. Successful buyer is unknown. Probably CC#3 would be the MS65 specimen from D. Brent Pogue Collection realizing $105,750. As previously stated, there is a second MS65 that is not known. Although, it could be the PCGS MS65 specimen that appeared in a Stack's July 2005 auction realizing $132,250. On the other side of the fence, NGC have two MS65 in their census report. One of them appeared in a September 2020 Heritage Auction where it realized $84,000. With this information, I would place the TPG GEM count between 5-6 specimens.
Although this new Hansen coin is clearly not in the Top Five ranks, Legend’s describes it as: This is a wonderful near-GEM example and a Condition Census piece, among the 10 FINEST graded by PCGS. Bold and brilliant golden luster blooms vividly on both sides. There is a flashy semi-reflective texture on in the fields and the design elements are sharp with a nice frost. Aside from a couple of very widely spaced little ticks and giggles, the surfaces are sleek, smooth, and ultra clean. This is a truly beautiful example of this RARE date and type!
There is still a handful of Bass Foundation quarter eagle coins that will be offered in future sales, including an 1808 MS62 specimen. Let’s watch and see if Mr. Hansen is done with this Capped Bust $2-1/2 Gold Set for now.
Provenance: The Elbert Henry Gary Collection / ANA US Coins Signature Auction, (Heritage 8/26), lot 4258, realized $51,700; Cody’s Collection / Regency Auction 49, (Legend 12/2021), lot 279, realized $76,375; Purchase in Private Transaction from David Lawrence Rare Coins, D.L. Hansen Collection.
1829 Capped Bust Half Eagle, MS64
PCGS POP 5/5, CAC Approved
Certification #80502152, PCGS #7669
PCGS Price Guide $85,000 / Realized Unknown
Ex: EH Gary / Cody’s Collection
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My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Winter 2022 Auctions (1 of 6) – The Harvey B. Jacobson, Jr. Collection / Stacks Bowers (1 of 3)
Stack’s Bowers Galleries is pleased to announce the sale of the Harvey B. Jacobson, Jr. Collection of 1795 to 1804 $10 Gold Eagles. Mr. Jacobson is only the third collector known to have completed this set by die marriage, joining the august company of Anthony J. Taraszka and the owner of the Tyrant Collection. - Whitman Coin & Collectibles
In my first reading this announcement, I thought it to be inaccurate. At first, I thought that I remembered Harry Bass having a complete set. He had 32 coins but was missing one. The complete set is 33, if you include the 1804 Plain, 4 DB-2 Proof. Bass had the 1804 BD-2, but was missing the 1803 Large Reverse Stars, 13 Stars, BD-6 specimen. Therefore, Mr. Taraszka and Mr. Jacobson assembled a complete early eagle variety set without the 1804 BD-2 Proof. This means that the Tyrant stands alone as the only collector to assemble the complete 33-piece die marriage set. Until this sale, Mr. Hansen has shown little to no interest in Early US Gold die varieties. Will that someday change?
This was an interesting sale that Mr. Hansen participated in. In my review of the 32 lots offered in the sale, I could identify only three coins that would improve the Hansen Core Collection. Mr. Hansen and the DLRC Team was successful in obtaining two of the three. The surprise came when I discovered he purchased several more coins, including coins that were not as fine in grade as the coins that he had in his core set. I do not know what this mean. Are these eagles holiday presents? Is he going for the 32 or 33 piece set? Is he setting the table for something else like a second set of Early Eagles? Another possibility is that the Jacobson sale was soft and he could not walk about at the prices. Although, the sale did not appear that soft. Let’s look at what he purchased.
The first coin featured will be the only upgrade to the Hansen Core Collection of Early US Eagles. As I previously stated, there were only two upgradable coins in the 32 lot Jacobson sale. Let’s look at the one of the two purchased.
1798/7 Capped Bust Right Eagle. BD-1, Stars 9x4, PCGS MS-61, Ex: Bass / McGuigan
Unique Style Stars 9x4 Obverse
Expert David Akers describes the coins as: This is one of the rarest of the early Eagles but, despite the similarity in the mintages of this and the 1798/7, 7x6 Stars, the 1798/7, 9x4 Stars is not nearly as rare as the 7x6. In fact, based on the auction appearances, this issue is not really as rare as generally believed and has appeared with the same frequency as the 1804 and less often than the underappreciated 1797 Small Eagle. Most known specimens' grade from VF to AU but several strictly uncirculated examples are also known.
This coin is a PCGS Top Five coin, but in an overall condition census report, the coin is just a solid top ten. The finest coin is the Bass Core Specimen that was recent graded MS63 PCGS. The Bass MS63 coin is from the Garrett Family Collection. It sold in 1980 Bowers & Ruddy sale of the Garrett Collection as an uncertified MS65. I would expect the recent MS63 PCGS grade to be disappointing for this coin. The Tyrant MS62+ specimen is an Ex: Pogue/Eliasberg/Clapp eagle. The PCGS coin is tied for the #2 spot with the other MS62+ specimen from the New Orleans Collection that recently appeared in a Bob Simpson Auction. The next is one is a PCGS MS62 from the Farish Baldenhofer Collection. Then comes the Hansen/Jacobson specimen tied for PCGS #5 with two other coins. NGC census report has four coins graded MS61 with sole finest MS63 from the Ketring Family Collection. The PCGS and NGC combine reports have a total of twelve specimens that are MS61 and better. This count could be inflated by a couple coins if there are resubmits. With this information in handed, I would place the Hansen/Jacobson coin on my condition census list between CC#6 and CC#9.
I created my list above before finding a list that my friend Ron Guth put together a few months ago for the Heritage’s August 2022 US Coins Signature Auction featuring the sale the Bob R. Simpson Specimen. The cataloger wrote: Of course, when one adds in the factor of conditional rarity, the present 1798/7 eagle in MS62+ PCGS is among the few finest survivors of this issue. This coin is the number 3 example in the Numismatic Detective Agency's Top Ten listing, compiled by prominent researcher Ron Guth (see listing below with my slight updating).
1. Bass Specimen MS63 PCGS, Cert #46092780 - Harold P. Newlin Collection, sold privately on 10/31/1884; T. Harrison Garrett Collection; Robert and John Work Garrett, by bequest; John Work Garrett; Johns Hopkins University; Garrett Collection, Part III (Bowers & Ruddy 10/1980), lot 1659 (as a raw MS65), realized $52,500.00; Harry W. Bass, Jr.; Harry W. Bass, Jr. Research Foundation Permanent Collection of U. S. Gold, Patterns and Currency (HBCC #3180); Harry W. Bass, Jr. Core Collection, Part III / CSNS US Coins Signature® Auction, (Heritage 4/2023 as MS63 PCGS), Lot TBD.
2. MS63 Ketring Family Specimen, MS63 NGC, Cert #913021-001 - Collection (Heritage, 7/2003), lot 10412 (as NGC MS63, realized $132,250.00.
3. Simpson Specimen, MS62+ PCGS, Cert #44156469 - New Orleans Collection (Heritage 4/2015), lot 5383, realized $188,000.00; New Orleans Collection, Part II (Heritage 6/2015); lot 4276, realized $199,750.00; Bob R. Simpson Collection / US Coins Signature Auction, (Heritage 8/2022), lot #3387, realized $324,000 (Auction Record).
4. Tyrant Specimen, MS62+ PCGS, Cert #31694558 - John M. Clapp Collection; John H. Clapp Collection, sold intact via Stack's in 1942; Louis E. Eliasberg, Sr.; United States Gold Coin Collection (Bowers & Ruddy, 10/1982), lot 649 (as a raw MS62), realized $33,000.00; D. Brent Pogue Collection, Part II (Stack's Bowers & Sotheby's, 9/2015), lot 2096, realized $258,500.00; Tyrant Collection (Coin 9), displayed at the 2/2020 Long Beach Expo as PCGS MS62+.
5. Baldenhofer Specimen, MS62 PCGS, Cert #10757716 - Farish (William Gustav "Bill") Baldenhofer Collection (Stack's, 11/1955), lot 1439; Rarities Sale (Bowers & Merena, 8/1999), lot 421; Pre-Long Beach Auction (Superior 2/2000), lot 1176; Benson Collection, Part II (Goldberg Auctions; 2/2002), lot 2058 (as PCGS MS61), realized $51,750.00; FUN Signature (Heritage, 1/2004), lot 3056 (as PCGS MS61, realized $80,500.00; Pre-Long Beach Auction (Goldberg Auctions, 2/2007), lot 2387 (as PCGS MS62, cert. #10757716), realized $218,500.00; Pre-Long Beach Auction (Goldberg Auctions, 9/2008), lot 1274, not sold; Pre-Long Beach Auction (Goldberg Auctions, 2/2009), lot 1524, realized $178,250.00; Central States Signature (Heritage, 4/2014), lot 5761, realized $176,250.00.
6. Prooflike Specimen, MS61 PCGS, Cert #28902214 - FUN Signature (Heritage, 1/2015), lot 4324, realized $117,500.00.
7. Hansen/Jacobson Specimen, MS61 PCGS, Cert #40011172 - Major William Boerum Wetmore Collection (S.H. & H. Chapman, 6/1906), lot 32 (as a raw Extremely Fine), realized $77.00; unknown intermediaries; RARCOA, sold privately on 2/1/1975 to Harry W. Bass, Jr.; Bass Collection, Part III (Bowers & Merena, 5/2000), lot 561, realized $75,900.00; Jim McGuigan, 2003; The Harvey B. Jacobson, Jr. Collection / Winter 2022 Auction (Stack’s Bowers, 11/2022), Lot 4011, realized $168,000, D.L. Hansen Collection.
8. Rube Specimen, MS61 PCGS - Rube Collection (Heritage, 8/2018, as NGC MS61, Cert # 3022470-004), lot 5258, realized $96,000.00.
9. Ohringer Specimen, MS61 NGC, Cert # 1785837-008 - Ohringer Family Trust - Holdings, Part II (Goldberg Auctions, 9/2008), lot 1275, realized $138,000.00; Rarities Night (Stack's Bowers, 8/2012), lot 11730, not sold; Pre-Long Beach Auction (Goldberg Auctions, 1/2014), lot 1825, not sold; Rarities Night (Stack's Bowers, 8/2014), lot 13236, not sold.
10. Defect Specimen Genuine - UNC Details (92 - Cleaned) PCGS, Cert #36723335 - FUN Signature (Heritage, 1/2019), lot 4682 (as PCGS AU Details, Cleaned), realized $36,000.00; Central States Signature (Heritage, 4/2019), lot 3895 (as PCGS Unc. Details, Cleaned), realized $33,600.00.
Ron Guth reports the Hansen/Jacobson MS61 coin as a CC#7. I am not a prominent researcher for sure, but my thoughts were CC#6 and CC#9. The ranking given by Ron Guth falls nicely in my range. Very Cool! The Stack’s Bower cataloger added this commentary: Although the rarity of this date has been overstated in the past (Breen, for one, estimated that only 31 to 33 1798/7 eagles of both varieties were extant), this issue still ranks as the second scarcest in the early eagle series after the final year 1804 Crosslet 4. BD-1 is the more readily available of the two varieties of this issue. The 1798 as an issue is significant as the first in the early eagle series to feature overdate dies, both obverses having the digit 8 cut over a 7. It is also significant as the first in its series with 13 stars on the obverse, and clearly both obverse dies were prepared after the Mint abandoned the idea of adding a star for each new state that joined the Union. After Tennessee's admission brought the requisite number of stars under that plan to 16, overcrowding of the design clearly became a problem, leading to the decision to feature only 13 stars in honor of the original 13 states. Mint employees initially experimented with the arrangement of the 13 stars on the obverse dies of the eagle, with the two 1798/7 varieties displaying different arrangements of 9x4 and 7x6, respectively. In the end, neither of those arrangements were accepted for long term use, as the Mint instead decided on the 8x5 arrangement for all remaining Capped Bust Right eagles beginning with the 1799-dated coins. As such, the 1798/7 BD-1, with its 9x4 star arrangement, is unique in the early eagle series and represents a must-have variety for the serious gold type collector. This is one of the finest certified examples of the variety. With an illustrious provenance, as well, this coin is sure to find its way into another world class early gold cabinet.
This MS61 specimen has a lot of appeal. The strike is described as: This is a boldly to sharply struck early eagle with only trivial lack of detail along the lower right obverse border, at star 4 on the same side, and over the highest elements of the design, where slight softness of strike mingles with trivial numismatic handling that helps to explain the MS-61 grade from PCGS. The surface is described as: Both sides exhibit moderately reflective satin luster with a hint of green-gold color. A few minor marks are noted, consistent with the assigned grade, but none are serious. A planchet drift mark (as made) is out of the way at the reverse border between the letters AM in AMERICA - a useful provenance marker. The eye appeal is superior for the assigned grade.
The coin is certainly a very nice upgrade to the previous AU58 Specimen from Taraszka Collection. Although the coin is not a true CC Top Five, a PCGS Top Five coin works well in this 4558-coin core collection registry set. In some recent upgrades, we have seen a large improvement in the Hansen Eagles. This is not the last. The next post is an additional eagle that was not previously in the Hansen Collection.
Provenance: Major William Boerum Wetmore Collection (S.H. & H. Chapman, 6/1906), lot 32 (as a raw Extremely Fine), realized $77.00; unknown intermediaries; RARCOA, sold privately on 2/1/1975 to Harry W. Bass, Jr.; Bass Collection, Part III (Bowers & Merena, 5/2000), lot 561, realized $75,900.00; Jim McGuigan, 2003; The Harvey B. Jacobson, Jr. Collection / Winter 2022 Auction (Stack’s Bowers, 11/2022), Lot 4011, realized $168,000, D.L. Hansen Collection.
1798/7 Capped Bust Right Eagle. BD-1, Stars 9x4, PCGS MS-61
PCGS POP 3/4, BD-1, Taraszka-9
Certification #40011172, PCGS #8560
PCGS Price Guide $200,000 / Realized $168,000
Ex: Bass / McGuigan
Note: Thanks Stack’s Bowers for the usage of image.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
The prices for this sale were for the most part very strong. I wanted a 1795 and I thought the bids were too high and I dropped out of the bidding. I believe the Hansen purchases you list were good value.
Winter 2022 Auctions (2 of 6) –The Harvey B. Jacobson, Jr. Collection / Stacks Bowers (2 of 3)
Draped Bust Eagles - Washington, Adams and Jefferson were the Presidents of the United States when these coins were struck, and they are the largest denomination issued until 1850. Both the Small Eagle and the Large Eagle types are part of this historic set. Rarities include all of the Small Eagle issues plus the 1798/7 9X4 Stars. In top condition, of course, all of the coins are classic rarities. Take the basic ten-coin set (challenging enough!) and add five more rarities to the set and you have a magnificent collection, indeed. You'll have a hard time finding the 1795 9 Leaves and the 1798/7 7X6 Stars, but the hunt is half the fun. These coins can get very pricey, but they are solid values that have stood the test of time. Beautiful and incredibly historic coins from the early days of America! – PCGS Set Registry
Finally, the hunt for the 1798/7 Capped Bust Right Eagle. BD-2, Stars 7x6 specimen is over. In fact, this is the last coin needed to complete the 230-piece entire circulating strike eagle core collection. It took Mr. Hansen and his team about six and half years to reach that accomplishment. It may not be the grade he would have desired, but the rarity, the coin speaks for itself. The table represent the complete core collection of eagles.
As you can see, the eagle collection has 15 PCGS sole finest specimens with 14 from the Liberty Head Set. Another 37 specimens are tied for finest that results in the complete 230-piece set being 22.6% PCGS finest. This is a little off pace than most of the other core sets. Maybe more importantly, the Hansen Collection of Eagles are slightly over 70% PCGS Top Five specimens. Still slightly off pace of the core collection which is amazingly a little over 80% PCGS Top Five. As many of you know, just because Hansen completes a set does not slowdown or hinders the upgrading. We can expect to see these numbers improving.
With the purchase of the 1798/7 Capped Bust Right Eagle. BD-2, Stars 7x6 specimen from the Jacobson Collection, the D.L. Hansen Collection now have a complete set of eagles, but just as importantly, this purchase reduces the Hansen countdown to ten. The difficulty is increase with each countdown coin added.
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 10 remaining collectable coins in this quest. Two coins in The Major Varieties Set are not collectable, 1797 Half Eagle "Large Eagle, 15 Stars" and 1797 Half Eagle "Large Eagle, 16 Stars", 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 5
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)
Last 5
1842 Half Dollar "Small Date, Rev of 1839" (Survival est. 10 w/ 1 Mint State)
1820 Half Eagle "Curl Base 2, Sm Letters" (Survival est. 14 w/ 8 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)
A quick plug for the three remaining Bass sales. There are a few additional gold coins on the list that will appear in a future Harry Bass sales. Therefore, Mr. Hansen will have the opportunity to trim this list down a little more.
1798/7 Capped Bust Right Eagle. BD-2, Stars 7x6, PCGS F-15, Ex: Sherman Specimen
Unique Obverse Star Arrangement, A Charming Choice Fine Example
What does it mean when something is said to be charming? By some definitions, the term is referenced to as extremely pleasing or delightful. I think for a well circulated fine specimen, I would agree the use of this term is correct. You saw the condition census for the collection is amazingly high with 70% of the coins being PCGS Top Five. The eagle collection has only five coins graded below AU53 starting with the amazing 1875 AU50 eagle from the Harvey B. Jacobson, Jr. Collection purchased by the Hansen Team in 2020. The other coin is the 1872CC AU50 that is an Ex: Hall / Simpson. There is a lonely 1864-S XF45 and then the current coin purchased, the 1798/7 Capped Bust Right Eagle. BD-2, Stars 7x6, PCGS F-15. The fifth coin the ungraded 1933 that Mr. Hansen purchased in 2019 in The Poulos Family Sale. The coin is tied to the S. Hallock Dupont Collection. Most collections are not measured by the coins at the bottom of the sets. If you choose to judge the Hansen eagles by his bottom five, then they would look like this:
#226) 1875, AU50 PCGS, POP 3/3, Purchased in 2020 auction realized $360,000
#227) 1872-CC, AU50 PCGS, POP 10/10, PCCG Price Guide Value = $37,500
#228) 1864-S, XF45 PCGS, POP 5/9, Purchased in 2020 auction realized $126,000
#229) 1798/7 $10 7X6 Stars, F15 PCGS POP 1/11. Purchased in 2022, realized $78,000
#230) 1933, N1 PCGS, POP 2/11, Purchased in 2019 auction realized $300,000
In my collection, these coins would be my Box of Five. In Hansen Core Collection, they are a drag on the set rating. The Hansen Team actively upgrading the remaining coins at the bottom in this core collection. Now, more on the 1798/7 $10 7X6 Stars Eagle.
Expert David Akers comments: With the exception of the extremely rare and unpublicized 1795 Nine Leaves Eagle, the 1798/7, 7x6 Stars Eagle is by far the rarest issue from 1795-1804. It is two to three times as rare as the 1798/7, 9x4 Stars, the 1797 Small Eagle or the 1804, and many more times rare than any of the others. Like most very rare coins, this isue has generally been overgraded and, in my experience, VF-EF is the typically seen grade. There are, however, several uncirculated examples known. It is interesting to note that this is the only early Eagle to rank in the top 50 issues of the series in rarity according to frequency of appearance at auction. (The 1795 Nine Leaves probably would have ranked at the top had it been listed seperately in auction catalogs.)
In an interesting fact, there have been one mint state specimen offered in public auction in the past eighteen years. That coin was offered in The D. Brent Pogue Collection, Part II sale that was held September 2015. The auctioneer was Stacks Bowers and the rare MS61 PCGS coin realized $705,000. It is auction record that still stands today. I don’t expect that auction record will survive the Bass MS62 offering in January 2023. I would predict it to top the million-dollar mark. If the bidding for the coin blows its top, then with this purchase of the Jacobson’s F15, it may relieve some bidding pressure from the shoulders of the Hansen Team.
The Stacks Bower cataloger estimated mintage for the issue as: Walter Breen asserts that 1,742 eagles were struck from 1798-dated dies, composed of the 900 coins delivered on February 17, 1798, and the 842 pieces delivered on February 28 of that year. Based on a more exhaustive study of die states and emission sequences, as well as modern estimates on the number of coins extant, Dannreuther provides a broader range of 1,500 to 2,442 coins struck for the 1798/7 eagle as an issue. As for the variety DB-2, the cataloger estimated mintage: Numismatic tradition accepts a mintage of 842 coins for the 1798/7 Stars 7x6 eagle, based on Breen's assertion that the 842-piece delivery of February 28, 1798 was achieved using only this die pairing. Given the paucity of survivors in numismatic circles, however, Dannreuther provides an estimated mintage of 300 to 842 coins for this variety, many of the coins delivered on February 28 likely from the 1798/7 BD-1 Stars 9x4 dies. With all that, the estimated Surviving Population per Dannreuther for the Variety: Only 20 to 30 coins are believed extant in all grades.
The cataloger added additional commentary: Like its identically dated BD-1 counterpart, the 1798/7 BD-2 eagle is unique for its obverse star arrangement in the Capped Bust Right ten-dollar gold series. Although this obverse die represents the only use of the 7x6 star arrangement, this actually seems like a more appropriate arrangement than the 8x5 style that replaced it beginning with the 1799-dated coins The 7x6 arrangement allows better centering of the word LIBERTY along the upper border, while on all stars 8x5 obverse dies the word LIBERTY begins in front of the cap and continues far to the right to approximately the 2 o'clock position. The scarcity of this variety precludes many numismatists from ever seeing a 1798/7 Stars 7x6 eagle, let alone acquiring an example for their collection. Indeed, after only the 1795 BD-3 9 Leaves, this is the scarcest early eagle die variety produced up to that point in time. The elusiveness of survivors is certainly due to the fact that few coins were struck in the first place. The obverse die failed quickly and developed myriad cracks, as seen on all known examples. It was replaced by the workhorse die of the 1797 Heraldic Eagle issue which, when mated with the same reverse die of both 1798/7 varieties, went on to strike the 1797 BD-3 variety. It was then the turn of the reverse die to yield to a replacement, after which the 1797 BD-4 variety emerged from the press. With the number of coins believed extant suggesting more extensive mintages, both the 1797 BD-3 and BD-4 varieties were likely delivered after February 28, 1798. The 842 eagles delivered on that date probably comprised a small number of 1798/7 BD-2 coins and additional 1798/7 BD-1 examples. As with so many early eagle varieties, the rarity of the 1798/7 Stars 7x6 has been overstated in the past. Breen (1988) asserted that only 13 examples were known. The actual number of survivors is approximately twice that number, which is still small in an absolute sense and confirms this as a very scarce variety. The unique obverse star arrangement places increased variety collector pressure on the few known examples, further highlighting the bidding opportunity represented by the present offering.
I am certain that Mr. Hansen prefers a better specimen. As I stated earlier, it took Mr. Hansen and his team about six and half years to find a specimen to purchase. They elected not to miss the opportunity when the Jacobson Specimen was offered. I am sure in a couple months when the Bass MS62 POP 2/1 specimen is offered, if the team has a good opportunity to upgrade, they will be one of the bidders. As for some of the competition, Jay Parrino currently has the AU58, Cert #37979184 specimen. He may desire to upgrade the PCGS Pop 4/5 specimen. The Schwenk and Madeline registry sets still need a specimen. We will have to watch and see what’s happens when this coin is offered. It going to be fun to watch. In the meantime, the Hansen Collections of Circulating Strike Eagles are complete.
Provenance: Donovan and Hudgens Collections sale, (Bowers and Merena's, 11/1993 as uncertified F12), lot 1513, realized $18,700; J.A. Sherman Collection sale, (Stack's, 8/2007), lot 3296, realized $31,050; The Harvey B. Jacobson, Jr. Collection / Winter 2022 Auction (Stack’s Bowers, 11/2022), Lot 4012, realized $78,000, D.L. Hansen Collection.
1798/7 Capped Bust Right Eagle. BD-2, Stars 7x6, PCGS F-15
PCGS POP 1/11, BD-2, Taraszka-10
Certification #06908454, PCGS #8561
PCGS Price Guide $70,000 / Realized $78,000
Ex: Sherman Specimen
Note: Thanks Stack’s Bowers for the usage of image.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Winter 2022 Auctions (3 of 6) –The Harvey B. Jacobson, Jr. Collection / Stacks Bowers (3 of 3)
Exceptional Outcome for Complete Set of Early $10 Gold Coins - by Greg Reynolds, Greysheet Newsletter
I miss Greg Reynolds posting regularly on this site. He was so insightful, and he would really get you thinking about something he was discussing. Sometimes controversial, but just enough to make his reads interesting. With that said, I want to bring everyone attention to an article that was recently penned on The Harvey B. Jacobson, Jr. Eagles. Mr. Reynolds stated his thoughts on Jacobson goals: Jacobson fulfilled a goal that few have even attempted; he acquired representatives of all thirty-two known die pairings of business strike Bust eagles. The Proof ‘1804’ eagles that were minted in 1834 and/or 1835 are a different matter. In my last posting, I stated that I believe the Tyrant is an exclusive in assembling all thirty-three pairing. So far, there has not been anyone to challenge me on that declaration. Mr. Reynolds introduced the Jacobson collection of Eagles as: The Harvey Jacobson set of early U.S. $10 gold coins (Bust eagles) was publicly sold on November 1 as part of an auction extravaganza at the Stack’s Bowers headquarters in Costa Mesa, California. As there has been a raging market for rare U.S. gold coins, especially Bust eagles, since January 2021, prices realized that are much higher than corresponding prices realized before 2021 are not necessarily revealing. The most newsworthy aspects of the Jacobson set are its completeness and prices realized for especially rare Bust eagles.
He described the market for these coins as strong: Bust eagles were minted for circulation from 1795 to 1804. The prices realized for the Jacobson set were more impressive than the coins themselves; the results were clearly strong overall. Many coins brought middle-retail prices or more. The premiums paid for the rarest die pairings of bust eagles, however, were ambiguous. The rage for rare date gold since January 2021 has not been joined by a rage for rare die pairings. In the Reynolds article, he did not state how much the Jacobson coins realized as a total. In another Greysheet article, it was stated: Over $23 Million Sold in the Stack’s Bowers Galleries Winter 2022 Auction. In this article, the price realized for several collections was given, including the Jacobson coins. The article stated: The Harvey B. Jacobson, Jr. Collection presented a complete set of Capped Bust $10 gold eagles, 1795 through 1804, including all known die varieties struck for circulation. This 32-piece set was the third known complete collection of this series and it realized over $2.9 million in the Stack’s Bowers Galleries Winter 2022 sale. Notable results include a MS-62 (PCGS) 1796 BD-1 with provenance to the Byron Reed Collection that realized $300,000, and an AU-58+ (PCGS) CAC 1795 BD-1, 13 Leaves that sold for $288,000.
From what I can piece together, it appears to me that the Hansen Team purchase as many as seven of the 32 lots in the Jacobson sale. As I discussed in an earlier posting, I found it to be a little surprising and at the same time fascinating. In my review of the 32 lots offered in the sale, I could identify only three coins that would improve the Hansen Core Collection. One was the coin that he did not have, the 1798/7 $10 7X6 Stars, BD-2 that was featured in my last post. The second coin was an upgrade. In the first post, I featured the 1798/7 $10 9X4 Stars, BD-1 that is MS61 replacing an AU58. The only other coin that would improve the Hansen Core Collection was the 1796 MS62. Greg Reynolds comments on the coin: The highest price realized in the Jacobson set was for his 1796 eagle, which was PCGS graded MS62. I find the BD estimate of 125 to 175 surviving 1796 eagles to be too high. I estimate that around 120 survive, in all states of preservation, including ungradable coins. For example, the NGC census includes fourteen non-gradable 1796 eagles in “Details” holders. The Hansen Team dropped out of the bidding at some point on this coin.
The surprise came when I discovered he purchased several coins that did not improve the Core Collection. The seven coins purchase includes the two improvements and five other specimens. I do not know what this mean. At this point, I will just share the seven coins that I found purchased from the Jacobson Sale. Note: The two coins highlighted red updated the Core Collection.
I do not think that currently Mr. Hansen is considering building a 32- or 33-piece early eagle set, but I could be wrong. I think more likely, he is eyeing a second set. Greg Reynolds offers a lot of additional information in his article. If you have an interest to learn more on the die pairings of Bust Eagles, I recommend this to be a very good read. I will provide a link in case you want to take a look.
https://www.greysheet.com/news/story/exceptional-outcome-for-complete-set-of-early-10-gold-coins
1803 $10 Small Reverse Stars Eagle, BD-3, MS63, Ex: King Farouk / Maurice Storck
Expert David Akers describes the coins as: Eagles were minted in 1802 but all were struck using dies dated 1801. Therefore, the 1803 is the next issue of this type. As a date, the 1803 is perhaps twice as rare as the 1799 or 1801, and it is considerably more difficult to obtain in choice or gem uncirculated condition. Most available specimens are quite high grade, EF-AU being typical. Varieties exist with small reverse stars as on earlier issues and large reverse stars as on the 1804. No difference in value is generally ascribed to these varieties but in my opinion, the large reverse stars variety is decidedly more rare, and should be worth a premium. There is also one interesting variety, discovered by Harry Bass, that has an additional 14th star in the reverse clouds.
As an interesting note, the eagle with the additional star is not a major variety. I could see it to be one at some point, to me the difference in enough to make the coin a major variety. There are six die varieties classified. This would be a great time to see them with Hansen top specimens.
Small Star Varieties
1803 $10 BD-1, Small Reverse Stars
1803 $10 BD-2, Small Reverse Stars
1803 $10 BD-3, Small Reverse Stars – Two MS63 Cert #25250086 / Cert #39426785
1803 $10 BD-4 Small Rev Stars
Small Star Varieties
1803 $10 BD-5, Extra Star – MS62, #36674559
1803 $10 BD-6 13 Lg Rev Stars
As can be seen, the 1803 have multiple die varieties for both major varieties. Ron Guth adds some clarity to Akers writing: 1803 Eagles ($10) are found with either large or small stars on the reverse. In the years following David Akers' writeup in 1980, sufficient interest has developed in the two varieties that they are now recognized by PCGS and NGC, and the respective population reports give us a good estimate as to their relative rarity. Akers called the Large Stars reverse "decidedly more rare" and he was correct -- the Large Stars (according to the PCGS Population Report) is four times as rare as the Small Stars variety. However, both can be found in Mint State with relative ease, though such high-grade pieces are rather expensive. The PCGS CoinFacts Condition Census for the Small Stars variety starts at MS64 and ends at MS65. This is an amazingly high level for any early U.S. coin, especially for a large-size gold coin. This indicates that many were saved by collectors, to whom we give thanks for their prescient thinking. Full struck examples of this variety are non-existent. All come with weak stars, especially on the lower left; the rare example will have strong details on the arrows and the eagle's claw which holds them. The finest 1803 Small Reverse Stars $10's are a single PCGS MS65 (which has been off the market since 2000) and a similar Gem in the National Numismatic Collection at the Smithsonian Institution.
This purchase gives the Hansen Collection at least two MS63 1803 BD-3, Small Stars, Eagle Specimens. I am not sure which one he will consider to remain in his core collection. Of course, the Farouk / Jacobson Specimen has the stronger pedigree of the two. The Stack’s Bowers cataloger describes the coin’s strike as: Central striking detail is razor sharp to full on both sides, allowing ready appreciation of the major design elements. The peripheries are somewhat softer, however, and largely due to myriad adjustment marks (as made) on the obverse, most noticeably at the upper and lower left borders. The appearance is described as: Full mint frost blends with vivid golden-apricot color to deliver strong eye appeal. We note only wispy hairlines and a few minor marks to define the grade, most of which are on the obverse, and none of which are worthy of individual attention.
The coin carries a PCGS Price Guide Value of six figures ($100,000). The Hansen Team had a reason to buy this coin, but I not sure of what that was. We may need to wait a see where it lands. By my count, if Mr. Hansen decided to start a second set for the 14-piece Early Eagles, then it would already be 50% complete. That could be the plan, but for now, only time will tell.
Provenance: King Farouk of Egypt; The Palace Collections of Egypt, (Sotheby's 2/1954), lot 187; The Maurice Storck Collection / Signature Auction, (Heritage 10/2020), lot 18395, realized $49,200; The Harvey B. Jacobson, Jr. Collection / Winter 2022 Auction (Stack’s Bowers, 11/2022), Lot 4011, realized $168,000, D.L. Hansen Collection.
1803 $10 Small Reverse Stars Eagle, BD-3, MS63
PCGS POP 16/12, BD-3, Taraszka-28
Certification #39426785, PCGS 8565
PCGS Price Guide $90,000 / Realized $100,000
Ex: King Farouk / Maurice Storck
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Winter 2022 Auctions (4 of 6) – Fairmont Collection (CBL Set) / Stacks Bowers (1 of 2)
Has the Market Begun to Undervalue Fairmont Coins? - Douglas Winter Numismatics Article, November 21, 2022
We have certainly seen the Fairmont hoard being a fuel to supply the heat for many upgrades in the Hansen Core Collection in 2022. A couple days ago, I saw a very interesting article written by gold expect Doug Winter. I will share a couple excerpts but would highly recommend going to his website and read his article in its entirety. He opens with a recap: The dispersal of the Fairmont Hoard began in 2018. It became better organized in 2022 with the offering of the faux sets of half eagles, eagles, and double eagles which were given the names “Hendricks” (Sold in April 2022), “JBR” (Sold in August 2022), and “CBL” (sold in November 2022). It is interesting to note the decreasing prices for many of the issues which were offered in each of these sales in similar or virtually similar grades.
Also, I believe the set decrease in grade stating with the Hendricks set as the best and most complete. Mr. Hansen and Team purchase coins from both of the first two sales in 2022. I thought the Hansen Team would set out of the CBL sale. From an extensive search of the 415 lots offered this sale, I just could not find upgradable coins, except one. The only coin that would upgrade the Hansen Core Collection was the 1884-CC $5 AU58+ with POP 1/ 3. Ironically, Mr. Hansen did not purchase the lonely coin from the lot of 415 coins. The 1884-CC half eagle was purchased by a collector assembling a Carson City set named “LIBERTY OR DEATH”. The coin realized $16,800.
I have been pondering since the CBL sale about three weeks ago the question, why is Mr. Hansen buying coins that do not serve a purpose of upgrading his core collection. The best answer that I can come up with may be from the brilliant mind of Doug Winter. He presented an interesting reflection: It is my observation that the market is suffering from Fairmont Fatigue. This has caused some really nice (and really rare) coins to sell for significant discounts and, in my opinion, the prices realized for some—but not all—of the coins offered by Stack’s Bowers in November 2022 were bargains.
I have seen this shaping up for an awhile, but the Stack’s Bowers Winter 2022 Auctions of The Harvey B. Jacobson, Jr. Collection and the Fairmont CBL Set has really brought it unto the light. What is being brought into light? The fact that when many collectors are seeing the gold market to be a seller market, in some cases, Mr. Hansen and his DLRC Team may be viewing it as a buyer opportunity. As Mr. Winter may be suggesting, seeking out bargains. We may be starting to see another uniqueness in this collector that we don’t see every day.
Is there a risk to what we see happening in the D.L. Hansen Collection? Possible. Mr. Hansen focused his efforts in the Fairmont CBL set of double eagles except for picking up three half eagles. If you have been following the collection the past 3-4 years, you would know the D.L. Hansen has the finest collection of Liberty Head Double Eagles that has ever been assembled. Using the purchase of the AWA Collection as a foundation, the Hansen Team has built a great set of gold double eagles. The Fairmont CBL sale offered 121 double eagles and not one of them would upgrade the Hansen Core Collection.
When the bidding stopped, the Hansen team had won 45 coins. There were 39 Liberty Head Double Eagles, three Saint-Gaudens and three Liberty Head Half Eagles. I sometimes wonder if coins as these are won by minimal fix bidding. Let’s take a close look are one of six Carson City Double Eagles purchased.
1885-CC Liberty Head Double Eagle, MS62 PCGS
Incredible Mint State 1885-CC Double Eagle, Two MS63 Finer
Expert David Akers comment: This date ranks in the top third of all Carson City Mint Double Eagles in terms of overall rarity. It is only a little less rare as a date than the 1878-CC and 1879-CC but it is decidedly more "common" than either in high grade, i.e. AU or Unc. When available, the 1885-CC is typically EF although a number of VF specimens also exist. AU's are also seen from time to time but in full mint state the 1885-CC is definitely rare. I have seen a few Unc-60 specimens as well as a couple of choice Unc. examples but I have never seen or heard of a real gem.
PCGG POP reports fourteen MS62 graded specimens with only two finer. The finer two coins are a pair of MS63. The only PCGS MS 63 specimen to appear in auction was also from the Fairmont Collection. The Hendricks Set specimen was sold earlier this year and realized an auction record of $264,000. The other MS63 has never seen the light of day, yet. Rusty Goe writes about the other specimen: "Before continuing our survey of sales of Mint State specimens, it is important to emphasize that sometime around 2001 to 2003 PCGS began listing an MS-63 submission event in its population census for 1885-CC double eagles. More recently NGC posted an MS-63 submission event in its census. Not one specimen has ever surfaced to corroborate either of these entries. Until one does, there is nothing really to say regarding a specimen of such magnitude other than such a piece would deserve special status in the Carson City double eagle series. If there is indeed a certified MS-63 example, it would shatter the price record by a country mile if it were to appear in an auction. It is unthinkable that two such MS-63 specimens could exist. One can only imagine what an MS-63 1885-CC double eagle would look like. It would likely intoxicate a person to view one -- a breathtaking experience indeed."
Hansen already had an 1885-CC MS62 Double Eagle that he purchased in early 2017 for his #1 Liberty Head set. This early specimen was purchase in a private transaction from Numismatic Financial Corporation. I traced the pedigree to the Renz Family Collection. I guess you cannot have too many 1885-CC MS62 Double Eagles. It going to be a tough decision on which coin will be used in the Core Collection.
This is the third 1885-CC Double Eagle that has been offered by Stacks Bowers in 2022. All three were from the Fairmont hoard. I did find a fourth that was offered in 2018. They appeared as following:
1885-CC AU58 PCGS, CAC, Ex: Fairmont Collection (Stack's Bowers 4/2018), Realized $36,000
1885-CC MS63 PCGS, CAC, Ex: Fairmont - Hendricks Set (Stack's Bowers 4/2022), Realized $264,000.
1885-CC MS62 PCGS, CAC, Ex: Fairmont - JBR Set (Stack's Bowers 8/2022), Realized $84,000.
1885-CC MS62 PCGS, Ex: Fairmont - CBL Set (Stack's Bowers 11/2022), Realized $72,000.
The big question that no one has answered yet… How many more are in the Fairmont hoard? The Stacks Bower cataloger offered no hints in this comment: Only 9,450 double eagles were coined at the Carson City Mint in 1885, by far the smallest production figure of any $20 from this facility during the 1880s. This is the final Carson City Mint double eagle coinage until 1889-CC; the frontier mint struck no coins of any denomination from 1886 to 1888. Writing in the excellent reference The Confident Carson City Coin Collector (2020), Rusty Goe accounts for just 20 to 25 Mint State coins among the 360 to 425 pieces believed extant in all grades. The finest example confirmed by the author is the marvelous Battle Born specimen in PCGS/CAC MS-62 that fetched $57,500 in our August 2012 sale of that collection. Our recent (Spring 2022 Auction) offering of the Fairmont's Collection Hendricks Set introduced an incredible PCGS/CAC MS-63 example to the market, which fetched a stunning $264,000. Its counterpart in the current Fairmont offering is also a newcomer to the market, and also solidly in the Condition Census for the issue. We expect it to see spirited bidding that will result in a strong price at the assigned grade level. We can only watch and see what 2023 and beyond have to offer.
The coin is described as: Simply put, this is one of the most significant Carson City Mint double eagle rarities that we have ever had the privilege of bringing to auction. It is a nearly Choice, visually appealing coin displaying a bold blend of honey-gold color and frosty mint luster. Sharply to fully struck with enhancing blushes of iridescent pinkish-apricot.
Provenance: A numismatic time capsule; plucked from circulation over 100 years ago and frozen in time in overseas bank vaults per Doug Winter; Winter 2022 Auction / Fairmont Collection -CBL Set, (Stacks-Bowers 11/2022), Lot 7378, Realized $72,000; D.L. Hansen Collection.
1885-CC Liberty Head Double Eagle, MS62 PCGS
PCGS POP 14/2
Certification #45944750, PCGS #9004
PCGS Price Guide $115,000 / Realized $72,000
Ex: Fairmont Collection - CBL Set
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My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Winter 2022 Auctions (5 of 6) – Fairmont Collection (CBL Set) / Stacks Bowers (2 of 2)
The CBL Set of gold coins was another standout offering from the Fairmont Collection, comprising mostly complete runs of $5, $10, and $20 coins beginning in 1834. The CBL set realized over $3.7 million and offered such strong results as a PCGS MS60 1872-CC $20 that sold for $102,000 and a PCGS MS60 1878-CC $20 that earned $72,000. - PCGS News Release, November 18, 2022
In this second post highlighting the Fairmont Collection (CBL Set), we will explore the sale a little deeper. The Hansen Team did not purchase the CC Double Eagles mentioned in the PCGS press release. I featured the “Incredible 1885-CC Double Eagle” a couple days ago, but before we see another one, let’s review the sale a little deeper.
Last posting I referenced an article published Doug Winter on his website title: Has the Market Begun to Undervalue Fairmont Coins?. If you did not read my last post, it is recommend to so before continuing with this one. In that post, Mr. Winter commented: It is interesting to note the decreasing prices for many of the issues which were offered in each of these (Fairmont) sales in similar or virtually similar grades. A big uncertainly is what is left and are they mostly better or lower grades. This leads to some risk that Mr. Winter highlights. In doing so, he focused in closing comments on the Carson City Double Eagles.
Given the fact that certain CC double eagles are down at least 10-15% in November 2022 versus their levels earlier this year, I think the prices for the two scarcer dates cited above (1878-CC and 1891-CC) held the line reasonably well. The spectacular prices we saw in the “Hendricks” sale (April 2022) for common date CC double eagles in uncommon grades (MS63) are not likely to be matched any time soon (if ever). Mr. Hansen did not purchase the 1878-CC, nor did he purchase the 1891-CC. Mr. Winter concluded by commenting: I will add, in closing, that if I were a buyer of high-quality CC double eagles I’d would approach a coin like an 1883-CC in PCGS/CAC MS63 (to use a totally random example) with extreme caution as it is possible that others exist in this hoard. But I would have told you the exact same thing even before the Fairmont Hoard hit the market.
In the article, Mr. Winter used the 1869-S Double Eagle as an example of one more stable. Mr. Hansen purchased an 1869-S MS62, CAC, Cert #45944712, realizing $21,600. Mr. Winter wrote: This is a surprise to me. I would have guessed each offering would have seen a decline of at least 20% but the prices were fairly stable. Let’s conclude with a few Carson City double eagle issues. These are not as “hot” now as they were in 2021 and early 2022, but the Fairmont Hoard contained some outstanding examples of dates which are not typically seen in higher grades.
1869-S Double Eagle
April 2022, Lot 5411, PCGS MS62 CAC: $24,000
August 2022, Lot 3441, PCGS MS62 CAC: $22,800
November 2022, Lot 7340, PCGS MS62 CAC: $21,600
Let me conclude by saying in referring to the table of the 45 coins purchased, the total realized was $720,000. The current PCGS Value is $955,250. The result is 24.6% under the published value. Only 12 coins (26.7%) of the coins were CAC Approve. This is a little lower than desirable. Even though for the twelve CAC coins, they realized $195,480 with PCGS Price Guide at $252,750 (22.6%). There was not a significance difference seen between CAC and non-CACs. As for how the coins will be used in the core collection, if at all, we will need to watch and see.
1884-CC Liberty Head Double Eagle, MS63 PCGS
Attractive 1884-CC Double Eagle, Tied for Finest Known
Expert David Akers comment: Along with the 1875-CC and 1890-CC, the 1884-CC is one of the three most common Double Eagles from the Carson City Mint. It can easily be located in any circulated grade up to AU and average quality uncs are only moderately scarce. In addition to this observation, there have been several discoveries that has made the 1884-CC even more readily available, but maybe in in top condition. For example, Ron Guth indicated: The Saddle Ridge Hoard of gold coins, discovered in northern California in 2013, contained only two 1884-CC Double Eagles, a PCGS AU55 and a PCGS MS61. Neither example affected the PCGS CoinFacts Condition Census. The Fairmont hoard adds a slight different twist to the story of this coin. We will explore that a little deeper in this post.
PCGG POP reports ten MS63 graded specimens with none breaking through MS63 barrier. A PCGS MS63 has been in auction eleven times since November 1999. Of those eleven offerings, four have occurred in 2022 alone. Last auction appearance prior to 2022 was back in 2014 when a MS63 PCGS from The Charles G. Wright Family Collection was offered by Heritage. The coin realized $70,500 in 2014. In a Heritage cataloger comment: PCGS and NGC combined have certified only 14 examples in this grade (eight at PCGS and six at NGC), with none finer (6/14), and Garrett and Guth note that many of these still display distracting abrasions. I find this 2014 listing of eight PCGS MS63 interesting, because there is three new MS63 specimens that has shown up in 2022. It appear that one of the previous eight MS63 PCGS coins has been lost from the POP report.
Hansen already had an 1884-CC MS63, CAC Double Eagle that he purchased in the acquisition of the AWA Collection. I think this took place in 2016 or early 2017. The coin was from the Nevada Collection. According to the CAC Population Report, there are currently only four of the ten PCGS MS63 specimens that are carrying the sticker. The Hansen Collection now have two. If I would guess, I think the Ex: Nevada / AWA Collection would remain as the representative in the Core Collection.
This is the third 1884-CC Double Eagle that has been offered by Stacks Bowers in 2022. All three were from the Fairmont hoard. I did find a fourth that was offered in 2018. They appeared as following:
1884-CC MS-62+ PCGS, Ex: Fairmont Collection (Stack's Bowers 6/2018), Realized $18,000
1884-CC MS63 PCGS, CAC, Ex: Fairmont - Hendricks Set (Stack's Bowers 4/2022), Realized $120,000.
1884-CC MS63 PCGS, Ex: Fairmont - JBR Set (Stack's Bowers 8/2022), Realized $81,000.
1884-CC MS63 PCGS, CAC, Ex: Fairmont - CBL Set (Stack's Bowers 11/2022), Realized $55,200.
There appear to be a large difference in the price of the Fairmont MS63, CAC sold in April and the same grade and sticker sold in November. Doug Winter called this Fairmont Fatigue. It does create some so-call bargains, but until the hoard is concluded, we may not know for sure. The PCGS grade events are taking place just prior to the sales, so the POP reports do not show or give any clue of what’s coming. For example in the Fairmont - Hendricks sale, the PCGS Population was eight with none finer. Also, MS-63 also finest at NGC and the CAC Population was three. With the recent sale, the PCGS Population was ten with none finer. Also, MS-63 also finest at NGC and the CAC Population was four. Does that make any difference? We can only watch and see what 2023 and beyond. We may not have seen the best coins yet.
The coin is described as: A remarkably well preserved and attractive example of this popular Carson City Mint issue. Undeniably original surfaces are bathed in a blend of softly frosted luster and handsome golden-apricot color. Fully struck, aesthetically pleasing, and sure to sell for an exceptionally strong bid.
Provenance: A numismatic time capsule; plucked from circulation over 100 years ago and frozen in time in overseas bank vaults per Doug Winter; Winter 2022 Auction / Fairmont Collection - CBL Set, (Stacks-Bowers 11/2022), Lot 7376, Realized $55,200; D.L. Hansen Collection.
1884-CC Liberty Head Double Eagle, MS63 PCGS
PCGS POP 10/0, CAC Approved
Certification 45944748, PCGS #9001
PCGS Price Guide $100,000 / Realized $55,200
Ex: Fairmont Collection -CBL Set
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Winter 2022 Auctions (6 of 6) – Rarities Night / Stacks Bowers
Over $23 Million Sold in the Stack’s Bowers Galleries Winter 2022 Auction - PCGS News Release, November 18, 2022
PCGS Post: Over $23 million in United States coins and banknotes was sold in the Stack’s Bowers Galleries Winter 2022 Showcase Auction, marking an incredibly successful close to the firm’s 2022 U.S. Showcase Auction season. Presented was an exciting array of Numismatic Americana, U.S. colonial and federal coinage, and physical Bitcoins and cryptocurrency, including several significant collections that represented the pinnacles of their respective categories.
From the Hansen Core Collection perspective, there were three “pinnacle” US coins events in the Stacks Bowers Winter 2022 Auctions. The Harvey B. Jacobson, Jr. Collection which I posted a three-part update. The Hansen Team purchased seven early eagles in this sale which only two was used in the Core Collection. Next, was Fairmont Collection (CBL Set) auction that the Hansen Team participated in and was successful in purchasing 45 coins, but none were used in the Core Collection. The third auction was Stack’s Bowers Rarities Night. I was only able to find three purchases from the sale and two were used in the Core Collection.
I thought Stacks Bowers - Session 5 - Rarities Night offered a few interesting coins. With only a meek 149 lots in this sale, I looked for any coins that would be additions or upgrades to the core sets and proofs. I found only six circulation strike coins that would improve the Core Collection. The Hansen Team won two of them. The first was the 1852-D MS62, Gold Dollar, PCGS POP 7/2. This coin made for a nice upgrade to Hansen’s MS61, POP 11/9. The second coin purchased was the 1859-D Medium D, MS62, Half Eagle, Pop 6/3. The coin replaces a MS61, Pop 5/9. I will feature the Half Eagle today. Three coins purchased:
I found only six proof coins that would improve the Hansen Collection. There is a large opportunity to expand the Eagle Proof set. The finest known 1861 Eagle was available, and Hansen Collection currently does not have an example. The 1874 Eagle Ex: Norweb was nice offering. There appear that a complete set of 1885 gold proof coins were offered on Rarities Night. The Hansen Proof Sets could use four of them at different levels of significance. The 1885 Eagle is missing in the Hansen Proof set. The set already has the 1885 Quarter Eagle, 1885 Half Eagle and 1885 Double Eagle, but upgrades were offered. In this sale, it appears either the Hansen Team were under-bidders on all the proofs or did not participate. We may never know.
If my count is correct, The Hansen Team purchased a total of about 55 coins in the 2022 winter auctions realizing just short of $1.4 Million. This resulted in about $30K per coin. If you had been keeping track, the most interesting point of this sale is only four coins were used in the Core Collection. In a sale that gave the Hansen Team an excellent opportunity to take a breath and wait on the sidelines for the upcoming FUN Show in January 2023, they selected not to. We will finish up the 2022 Winter Auctions with a half eagle that does improve the Core Collection.
1859-D Liberty Head Half Eagle, Medium D, PCGS MS-62, Ex: Augustana Collection
Boldly Struck Mint State 1859-D Half Eagle
Expert Doug Winter comments: The 1859-D has the second lowest mintage figure in the entire twenty four year history of the Dahlonega half eagle series. It is nearly identical in overall rarity to the 1858-D but it is rarer in high grades. The 1859-D half eagle is usually found in Extremely Fine grades. It becomes rare in About Uncirculated-50 and it is very rare in the higher About Uncirculated grades. In full Mint State, the 1859-D half eagle is extremely rare. The 1859-D half eagle invariably shows weakness at the centers. On the obverse, the curls at the face and below the ear of Liberty are weak, as is the back of the neck which can be so flat that this is confused for wear. The first three or four stars may show weakness but they become stronger towards the final few. The reverse is better struck but it is often somewhat weak on the shield, the eagle’s legs and the top of the claws. The milling on both sides is sharp. Every known example has rounded rims with a beveled appearance.
In other expert comments, David Akers wrote decades ago: The 1859-D has the second lowest mintage of any Dahlonega Mint Half Eagle yet surprisingly, it has appeared at auction more often than some dates with much higher mintages. It is also more often available in AU or Unc grades than many other D Mint issues and I have seen several very choice mint state pieces. However, the 1859-D still must be considered to be rare in all grades and very rare in uncirculated condition. All specimens I have seen are rather weakly struck on the hair curls around the face and on parts of the eagle. The rims are well rounded.
Another researcher, Gordon Wrubel commented in Quickfinder Notes: The easiest way to determine the Medium D is that it appears to be WIDER than it is Tall. It is placed horizontally under the eagle away from the feather and stem. It is spaced well above Five D. The Large D appears TALLER than it is WIDE. The D is tilted up with its left top very close to the arrow feather. The Medium D is far more common with several Mint State examples graded. The Large D is rare. As Doug Winter points out, the Harry Bass II, lot 1117 coin "appears" to be the discovery specimen. Only a few specimens have been graded so far and none in Mint State.
After 35+ years of third-party grading, with a little grade-inflation, plus new discoveries, the numbers for mint state specimens in now better known. Currently, CoinFacts rarity and survival estimate is 165 in all grades with only nine MS60 or Better. CoinFacts does not believe any mint state GEM MS65, or better specimens survived. How does the estimate and POP reports compare?
PCGS POP reports fourteen mint state graded specimens, including five MS61 and six MS62. There are three choice uncirculated including two MS63 and the sole finest MS64. The John Jay Pittman coin hold the auction record of $60,500 set during a David Akers Auction dating back to October 1997. The uncertified coin was given a MS63 grade. The coin is an Ex. Melish; Kosoff (1956) specimen that is currently consider the finest known and presently resides in the sole finest PCGS holder, MS64. Then comes the pair on PCGS MS63. The first is the PCGS MS63 Chestatee specimen was offered as lot 7700 and it realized $17,250 in a Heritage 1999 sale. The other MS63 is the Duke's Creek Specimen was offered as lot 1062 and it realized $27,600 in Heritage 2004 sale. Then comes a group of six PCGS MS62 including two coins sold in 2022 including Fairmont specimen and the Augustana specimen purchased in the Winter 2022 Auction by D.L. Hansen.
According to the most recent CAC report, the John Jay Pittman is not CAC approved. One of the MS63 coins is approved, but I am not sure if it is the Chestatee or Duke's Creek specimen. There is only one of the six MS62 coins that have been CAC approved and that honor goes to The Fairmont Collection - Hendricks Set specimen that sold 4/2022 realizing $50,400. I believe this leave the new Hansen/Augustana MS62 specimen tied for fifth with several other PCGS and NGC certified specimens.
Unbelievably, there have been five 1859-D Liberty Head Half Eagle, Medium D PCGS Specimens graded AU55 or better have been sold by Stack’s Bowers Galleries in 2022. There was one AU58 NGC sold in 2022 by Heritage. In the five years prior (2017-2021) only seven AU55 or better was sold by all auction companies. Let’s take a closer look at the 2022 Stacks Bowers sales.
These are the five 1859-D Liberty Head, Medium D, Half Eagles that have been offered by Stacks Bowers in 2022. There were three from the Fairmont hoard.
1859-D Med D, MS62 PCGS, CAC, Ex: Fairmont - Hendrick (Stack's Bowers 4/2022), Realized $50,400.
1859-D Med D, AU55+ PCGS, Ex: Fairmont - JBR Set (Stack's Bowers 8/2022), Realized $7,800.
1859-D Med D, MS61 PCGS, Ex: Blue Moon (Stack's Bowers 8/2022), Realized $22,800.
1859-D Med D, AU55 PCGS, Ex: Fairmont - CBL Set (Stack's Bowers 11/2022), Realized $6,600.
1859-D Med D, MS62 PCGS, Ex: Augustana (Stack's Bowers 11/2022), Realized $38,400.
This is the second 1859-D Med D, Half Eagle that Mr. Hansen have purchased in 2022. The first purchase was the MS61 PCGS from the 8/2022 Stack's Bowers sale of the Blue Moon Collection. The Hansen Team continues its quest to make the Liberty Head Quarter Eagles as good as possible and is not shy to replace coins from recent purchases. When you have the 1854-S AU58+, Ex: Pogue / Boyd / Eliasberg specimen as center piece of a 220-piece set, the other 219 coins should be great supporting casts. Currently, 185 of 220 (84%) coins are PCGS POP Top Five.
Provenance: November 2015 Baltimore (Stacks Bowers 11/2015), lot 20116, realized $15,275; Augustana Collection / The Winter 2022 Auction - Rarities Night (Stacks Bowers 11/2022), lot 5089, realized $38,400; D.L. Hansen Collection.
1859-D Liberty Head Half Eagle, Medium D, PCGS MS-62
PCGS POP 6/3
Certification # #25683903, PCGS #8282
PCGS Price Guide $50,000 / Realized $38,400
Ex: Augustana Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Shannon Rajkitkul - Paradime Coins
It may have been over a year since I last mentioned Paradime Coins. Recently, I posted a series of feature postings on David Lawrence Rare Coins and Rare Coin Wholesalers, but a point to be made, Mr. Hansen don’t just buy from the big boys. He is looking for coins that are available to buy, that will improve his collection, and that are being offered at fair prices. We have heard this stated from John Brush more than once. As I have wrote before, it is nice to see a small coin company, i.e., Paradime Coins that can acquire nice coins. It is not easy to find coins that will improve the Hansen Core Collection at a fair price. It is major achievement when small company can offer a coin to the collection. I think Shannon at Paradime Coins have found that niche. They have done it more than once.
As stated earlier, it has been a more than a year since we saw our last upgrade from Paradime Coins, let me give a quick recap of who they are: Paradime Coins is an online company located in Las Vegas, NV. The company is owned and operated by Shannon Rajkitkul, aka @SSR, one of our community members. The company website describes the company as: Top Coin Dealer ecommerce store that sells certified Rare U.S coins for sale. We specialize in the finest PCGS, CAC certified Numismatic coins including gold and silver and are members of PCGS, CAC, NGC, LSCC, EAC, ANA & ICTA. The site goes on to say their specialty is: We specialize in top pops, finest known, low survival rate U.S coins, conditional rarities, low cac pops, key dates and coins that have high eye appeal, whilst being certified by PCGS with CAC approval. This is not the first coin that I posted from this company. I wrote this in 2021.
Without researching, I believe Shannon has been successful in placing about a half dozen high grade, low pop PCGS specimens in the Hansen Core Collection. I am not sure how the dynamics work in the transaction between Paradime Coins and The Hansen Team. Does Shannon find a coin and makes an offer to the Hansen Team or do the Hansen Team find the coin listed on one of the online sites that Paradime Coins post their available coins? In this particular case, I found the coin offered on the Paradime Coins company website as well as eBay. Who found who I guess in not important. What matters the most, is this coin is now an important piece in the D.L. Hansen Core Collection of US Issues.
1876 Liberty Head Quarter Eagle, PCGS MS-64, Ex: Harwell / Buxton Specimen
Low Mintage of Only 4,176 Business Strikes
Expert David Akers comment: A look at the auction data from our 226 catalogue auction survey may surprise some people. There is only one auction record for this date in uncirculated condition, making the 1876 one of the rarest dates in the entire series in mint state. I have seen only one strictly uncirculated 1876, and that piece was softly struck, both on the obverse and reverse, much like many of the early S Mint quarter eagles. Most other business strikes I've seen, however, have been fairly well struck.
The 1876 Liberty Quarter Eagle reports a mintage of 4,170. CoinFacts Rarity and Survival Estimate is 300 for all grades, including 14 believed to be MS60 or better. There are no solid recognizable GEMs at this time. The Garrett Specimen once sold as a MS65 uncertified and there a MS65 NGC that has not sold as MS65 to date. The PCGS reports 16 coins graded from MS60 to MS62+. It is difficult for me to believe that to be true. Also, PCGS currently has four examples graded choice of better, 1-63 and 3-MS64. The NGC reports 19 coins graded from MS60 to MS62+. Again, that seems very high to me. NGC currently has three examples graded choice of better, 2-MS64 and 1-MS65. With CoinFacts placing the Rarity and Survival Estimate at 14 MS60 or better, the two leading grading companies have 42 in their combine POP reports. Someone has their numbers wrong.
As stated, there are three PCGS MS64 PCGS specimens listed in the population report with only one appearing in auction. Legend’s cataloger wrote in the Regency Auction 46 (7/2021) in the sale of a PCGS MS63 specimen: PCGS has graded two finer, the last one to sell was in the October 1999 Bass Part II sale. These are RARE and RARELY encountered. In 2021, the Hansen Specimen was still residing in an NGC holder.
Assuming Garrett / Bass Specimen is the top MS64 PCGS due to fact that the coin sold as a GEM uncertified MS65 in 1980, the other two MS64 specimens in the PCGS Pop Report are the Neebee and Hansen Specimens with both currently in PCGS Registry Sets. For the Neebee MS64 PCGS, CAC Specimen, I would rank CC#2 on my list due to the CAC Approval sticker. This would place the Hansen MS64 that was recently crossed from a MS64 NGC holder as CC#3. I am dropping the NGC MS65 Specimen (assuming is still active) to CC#4 due to the coin did not sell as a NGC MS65 and has not resurfaced after more than 11 years. The last PCGS choice BU coin would be the Twelve Oaks MS63 Specimen that reappeared in a 2021 Legend Auction that I would rank as CC#5.
The three NGC coins is a different story that is hidden in mystery. In the census report, there are two MS64 and a MS65. I cannot verify any of them at this time, although I placed the MS65 specimen as CC#4 on my list. If the two MS64 do exist, I would place them #6 and #7. The only other coin that has appeared is the so-called Farrington Collection Specimen. This MS63 PCGS specimen is another mystery. With the aid of Ron Guth at the Numismatic Detective Agency, I developed a roster of 1876 Liberty Quarter Eagles. Thanks Ron, you are the best of the best.
1876 Liberty Quarter Eagle Condition Census Roster
1) Garrett / Bass Specimen, MS64 PCGS - William F. Dunham Collection; (B. Max Mehl 6/1941), lot 1975, realized $11; Garrett Collection Part 2 (Bowers & Ruddy 3/1980 as MS65 Uncertified), lot 770, realized $18,000 (Auction Record). Harry W. Bass, Jr. II (Bowers & Merena 10/1999) lot 589, realized $10,925.
2) Nerbee Specimen, MS64 PCGS, CAC, Cert #40193308 - Ex: Pedigree Unknown, currently in Neebee PCGS Registry Set.
3) Hansen Specimen, MS64 PCGS, Cert #43830130 - D.L. Hansen Collection (See provenance below)
4) NGC MS65 Specimen - Chicago ANA (Stack's Bowers 8/2011), lot 7618 not sold
5) Twelve Oaks Specimen, MS63, PCGS Cert #04716055 - The Twelve Oaks Collection / Signature Auction (Heritage 9/2016), lot 13982, realized $8,812.50; The Regency Auction 46 (Legend 7/2021) lot 239, $10,868.75.
Additional Specimen
Farrington Collection Specimen, MS63 PCGS - sold in Superior Galleries Auction 5/1995. The coin is not currently in PCGS POP Report. This coin remains a mystery at this time. With Ron Guth assistance, he stated: I don’t have any further information except to say that it is not from the Farrington Collection. The Farrington Collection was the Half Dollars that were a part of the same sale. I don’t believe the coin is currently in the a PCGS holder. The PCGS POP reports do not have room for it. I think it is most likely same coin as one of the above coins, but I am just not able to confirm a link.
Heritage cataloger commentary from the 1/2022 sale of the Hansen coin: Just 4,176 business strikes were minted, and that production ranks as the fifth-lowest mintage of any quarter eagle struck in the 1870s. Although often overshadowed by the 1875 rarity, the 1876 is an important date and, when found at all, is found in lower grades. It is hard to emphasize clearly enough the importance of this issue. This near-Gem is fully brilliant with intense orange-gold luster and satiny surfaces. Only a few trivial marks on the obverse prevent an even higher grade.
From Paradime Coins Website: Tied For Finest. PCGS 3/0. Uber low mintage rarity of just 4,170 pieces struck. Today there are 300 in all grades, which is high considering PCGS has graded about 100 and NGC about half that. Regardless of the number of survivors this date is rare in all grades and this coin is the finest. PCGS plate coin with only one auction comp 23 years ago from the Harry W Bass sale where one sold for $10,925. With a PCGS Price Guide today of $17,500 and demand for the finest being high, coupled with attractive Honey-Comb patina with hints of fiery red between devices, this original coin should be considered. No PCGS has sold in recent years except for a lower graded MS63 that sold for $10,869. You might have to wait for another 23 years to acquire the finest 1876 $2.5.
The coin replaces Hansen’s MS62+ CAC, POP 1/ 4 purchased in a 2017 Heritage Auction. The team continues its quest to make the Liberty Head Quarter Eagles as good as possible. Maybe one day, the Liberty Head Quarter Eagles will be as good as big sister Hansen/AWA Double Eagles. The big difference is that the quarter eagles are being built one coin at a time.
Provenance: Pre-Long Beach (Superior Galleries 9/2003) lot 2886, realized $10,925; Horseshoe Collection / Boston Rarities, (Bowers & Merena 8/2010 as MS64 NGC Cert # 1657540-007), lot 1568, realized $9,775; Stamford Coinfest Signature US Coin Auction (Heritage 10/2010), lot 4644, realized $10,925; The Reverend Paul L. Harwell Collection / Baltimore Auction (Stacks Bowers 6/2012), lot 4195, realized $9,987.50; US Coins Signature Auction (Heritage 9/2012), Lot 4796, realized $9,400; The Buxton Collection / FUN U.S. Coins Signature Auction (Heritage 1/2022), lot 3915, realized $12,000; Purchase in Private Transaction from Paradime Coins as MS64 PCGS Cert# 43830130, D.L. Hansen Collection.
1876 Liberty Head Quarter Eagle, PCGS MS-64
PCGS POP 3/0
Certification #43830130, PCGS #7824
PCGS Price Guide $17,500.00 / Ask $24,000 (eBay listings)
Ex: Harwell / Buxton Specimen
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Dahlonega Gold Set with Major Varieties, Circulation Strikes (1838-1861)
This is one of the most historic of all coin sets, covering the Trail of Tears through the early days of the Civil War when Rebel forces captured the Dahlonega Mint. The gold dollar set features the 1861-D, a rarity with an unknown mintage that was struck after the Confederacy took charge of the Mint. The quarter eagles include the ultra-rare 1856-D, with only 874 pieces struck. The $3 gold piece of 1854-D is the only Dahlonega Mint $3 issued. The $5 pieces are rounded out by the classic 1861-D. Everything is here to remind us of an era that is gone forever. Magnificent rarities and a huge and passionate collector base add up to a great set. - PCGS Set Registry
Living in the south all my life, the southern mints always had a special meaning, especially the two gold only mints. The Charlotte, NC mint which is much closer and in my home state, and the Dahlonega, Ga mint which is a couple states way were both closed in 1861 due the Civil War. They were never to be reopen. I don’t know how many times that I have posted or mentioned the Dahlonega mint, but I would guess 50 to 60 times. The last posting was very recently, September 18, 2022, with a series of Georgia Gold Rush Collection of Dahlonega Coins updates. Hansen purchased several very nice and key Dahlonega Mint coins in Gold Rush sale.
The small set required only 70 coins when including the expanded Dahlonega Major Varieties Gold. In the Hansen Collection, this is a faux set. The Dahlonega coins are sprinkled in several of the Hansen Core Sets, starting with 13 coins in the Gold One Dollar set. The top one-dollar coin is the 1861-D MS64+ PCGS POP 1/0 with a PCGS Price Guide Value of $250,000.
There was only one Classic Head quarter eagle struck at the Dahlonega Mint dated 1839-D. The Hansen Specimen is a MS64 PCGS, CAC specimen POP 3/0 valued at $175,000. The Liberty Quarter Eagle set started with the 1840-D and ending with 1859-D. This run consisted with 23 coins with no substantial highlights.
Next comes the only three-dollar gold piece struck at the Dahlonega mint dated 1854-D. The Hansen specimen is the MS62 PCGS, CAC, sole finest POP 1/0. This Ex: Milas / Pogue Specimen was purchased by the Hansen Team in the Stacks Bowers, 8/2022 sale of the Georgia Gold Rush Collection. The coin realized $528,000.
The first half eagle coin struck at the Dahlonega Mint and the only Classic Head half eagle produced was the 1838-D. The Hansen Specimen is MS63 PCGS, CAC with POP of 2/0. This is another Brett Pogue specimen that Mr. Hansen purchased from the amazing Georgia Gold Rush sale. The coin realized $228,000. The coin has provenance to the Duke's Creek Collection.
The first Liberty Head half eagle produced at the Dahlonega Mint was the 1839-D. The Hansen Specimen is MS62 PCGS, CAC with POP of 2/0. The coin is from the Chestatee Collection which is the duplicate coin from the Duke's Creek Collection. The coin also was in the Green Pond Collection before ending as a highlight in the Georgia Gold Rush sale. The coin realized $252,000.
The bulk of the Dahlonega Mint 70-piece set is the 34-coin run of Liberty Head half eagles. The half eagles run is bookend with two great coins, starting with the previously mentioned 1839-D MS62 PCGS, CAC with POP of 2/0 specimen. At the end of the run, you will find a truly amazing 1861-D MS63 POP 4/0. This coin is a third amazing coin from the Georgia Gold Rush Collections that traced to Farouk / Norweb / Bass / Green Pond Collections. This coin realized $336,000.
The small set is full of highlights including seven six-figure coins. Currently, this difficult set contains only two coins that are graded below AU. They are 1842-D Half Eagle, “Large Date”, XF40 PCGS and the 1841-D Half Eagle, “Tall D”, XF40 PCGS. The Hansen Team is working hard to get the faux set as good as possible. In recent upgrades, six coins have been replaced. I would say, keep watching because I am sure there is a little room for more upgrades. Here is a look at the half dozen of recent purchased coins:
1850-D Liberty Head Half Eagle, PCGS MS60, Ex: Chesatee Collection (The Duke’s Creek Collection Duplicate)
Expert David Akers: As was the case with the 1850-C, the mintmark on the 1850-D is quite often so weak as to be visible only on close inspection. This date is a major rarity in grades above EF and it is actually quite rare just as a date. I have never seen a specimen that graded full AU. The 1850-D, along with the 1849-D, is quite possibly the most underrated D Mint Half Eagle in high grade after the 1842-D Large Date, Large Letters.
In a more recent commentary, expert Doug Winter wrote on the PCGS CoinFacts website: Although most people are not aware of this, the 1850-D is among the rarest Dahlonega half eagles in terms of its overall and high-grade rarity levels. The 1850-D is a scarce date in all grades. It is most often seen in Very Fine and Extremely Fine. It is rare in accurately graded About Uncirculated-50 and it becomes very rare in any level of About Uncirculated higher than this. The 1850-D half eagle is exceedingly rare in Mint State with just one to three coins currently known to exist. The date shows a below average strike, especially in comparison to some of the preceding Dahlonega half eagles. The obverse has a soft appearance. This lack of detail is most noticeable on the hair below BERT in LIBERTY, the hair at the top of Liberty’s head and at the first four or five stars. The reverse has a sharper strike but it is always weak on the neck of the eagle, both legs and the arrow feathers. Most examples have a weak mintmark and on some it is so weak that it is nearly invisible. Pieces which show a well-defined mintmark are very rare and much more desirable than those with a weak “D.”
PCGS CoinFacts gives the survival estimate to be 175 coins in all grades with estimated survive in mint state of only one. We know this is probably not correct. PCGS has graded one MS60 and four MS61 with no mint state PCGS being CAC Approved. The top CAC PCGS coins are a graded pair of AU58 specimens. NGC has graded only four mint state specimens with all four certified as MS61. With the total mint state population from PCGS and NGC combined as nine specimens, I suspect this to be a little high.
In Stacks Bowers March 2018 sale of the Vanderbilt Collection, the cataloger offered a very short list of only three MS61 specimens graded by PCGS. The cataloger wrote: Although not widely recognized as such, the 1850-D is one of the rarest Dahlongea Mint fives. Survivors from a mintage of 43,984 pieces are scarce even in circulated grades, while in Mint State this issue is exceedingly rare and seldom offered. The three finest examples cataloged by Stacks Bowers and have been certified MS-61 by PCGS are the first three on my list:
1) A.J. Vanderbilt Specimen, MS61 PCGS, Cert # 34205676 - Edward Milas Collection of Liberty Head No Motto Half Eagles, (Stack's, 5/1995, lot 480; realized $29,150 (Auction Record). A.J. Vanderbilt Collection, (Stacks Bowers, 3/2018), lot 10340, realized $22,800.
2) Bass Specimen, MS61 PCGS - N.K.S., July 26, 1967; Harry Bass Collection (Bowers and Merena, 10/99), lot 1017, realized $13,800; Robert Hughes; Steve Contursi; Hancock and Harwell; Green Pond Collection; (FUN) Signature Sale (Heritage, 1/2004), lot #1053, realized $20,700.
3) Duke's Creek Specimen, MS61 PCGS - Pre-Long Beach, (Superior, 9/1998), lot 2043, realized $21,850; Hancock and Harwell; Duke's Creek Collection.
4) Hansen Specimen, MS60 PCGS - See Provenance below.
5) NGS Specimen, MS61 NGC, Cert 3172516-002 - Sunday Internet Coin Auction, (Heritage 3/2009), lot 62474, realized $18,400.
On the online listing for the coin, Doug Winter website described the coin as: RARE PCGS MS60 1850-D $5.00, ex Chesatee Collection. The listing does a great job of adding some commentary content: The 1850-D is a much scarcer Dahlonega half eagle which is especially difficult to locate in higher grades. Properly graded AU55 and AU58 examples are very scarce, and in Uncirculated this is a genuinely rare coin with just three to five currently known. I am aware of this one coin graded MS60 by PCGS as well as two distinct coins in PCGS MS61. The Duke’s Creek coin grades MS61 according to NGC and it was earlier graded the same at PCGS. I don’t consider any of these coins to be “choice” and probably the most aesthetically pleasing example I can recall seeing is the nice PCGS/CAC AU58 which brought a strong $21,600 as Fairmont/”Hendricks:” 5057 in April of this year. For some reason, Mr. Winter makes no mention of the third or fourth MS61 specimens, with first being the Bass Specimen / Green Pond specimen. Is it the same as the Duke's Creek?
He describes the coin as: The present example is a legitimately “new” coin which lacks any obvious wear or friction, but which has busy fields, as is seen on virtually every 1850-D $5; even the higher-grade ones. The strike is as sharp as on any 1850-D half eagle that I have seen with a fully impressed mintmark (on most 1850-D half eagles the mintmark is weak and there are even examples on which the D is virtually illegible). Both sides show orange-gold color which is most notable at the obverse border from 2:00 to around 7:00. The overall eye appeal is better than expected for the grade and as I mentioned above, none of the coins graded MS61 for this date are especially nice. This exact coin is the sole 1850-D half eagle graded MS60 to ever sell at auction and this occurred over 20 years ago. In March 2018, Stack’s Bowers sold a PCGS MS61 for $22,800 which was a touch nicer than the Auraria coin.
By PCGS POP Report, the PCGS CC#6 coin is the AU58+, with a PCGS POP of 1/5. Mr. Hansen owns this coin from a Heritage 10/2022 sale of the Northern Lights of Vermilion Collection, but I not sure when he acquired the coin. This MS60 purchase from Doug Winter resulted in a nice upgrade of this coin, bring it into the Top Five status with a good look. Due to fact, this could be one of those coins where the best coin may not be the most appealing specimen.
Provenance: Auraria Collection via DWN; ANA Auction (Heritage 8/1999), lot 7687, realized $23,000; Chesatee Collection (i.e., the Duke’s Creek Collection duplicates); Purchase in Private Transaction from Douglas Winter Numismatics, D.L. Hansen Collection.
1850-D Liberty Head Half Eagle, PCGS MS60
PCGS POP 1/4
Certification #45543988, PCGS 8245
PCGS Price Guide $35,000 / Ask $32,500
Chesatee Collection (The Duke’s Creek Collection Duplicate)
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Barry Stuppler - Mint State Gold
Simply put, we are the major player in the industry. - About Us, mintstategold.com
I wrote a few weeks ago on Barry Stuppler. As a recap, I wrote: It is common knowledge that Barry Stuppler was Hansen’s original dealer in 2016 which was Hansen’s first year. I would consider the center-piece eagle as the 1839/8 $10 “Type OF 1838” PCGS MS66, Cert #05368072. This seven-figure coin has been in the Hansen Collection about 5-6 years dating back to an early purchase from Barry Stuppler.
There are other important pieces in the Hansen Core Collection that was purchased from this dealer. Some prime examples would be a pair of Eliasberg Dollars including the 1883-S MS67+PL and the 1903-S MS67+ that was purchased in late 2020 with the partial sale of the Illinois Set. Hansen acquired his 1927-D Saint-Gaudens double eagle for Barry Stuppler back in the very early days of Mr. Hansen collecting in the mid-2016 timeframe. This MS63 PCGS specimen remains today as the only 1927-D Saint-Gaudens double eagle in The Collection. I am sure there are more remarkable coins that I am not recalling at this time.
In a brief bio from Mint State Gold Website, The Stuppler & Company Inc. is described as: The founders of Mint State Gold have been a part of this elite industry since 1960. Many of our clients are among the top tier collectors in the world of investment, numismatic, rare, and ultra-rare coins. Mint State Gold has helped assemble some of the world’s top-ranked collections and we’ve sold some of the most prized coins known – in both cases at values in the billions of dollars. Mint State Gold’s clients benefit from our expertise, vast experience, and long history of success. We’re supported by a network of the top clients, dealers, organizations, and resources in the industry. In the field, Mint State Gold by Stuppler is second to no one. What does this mean to the average investor and collector? Mint State Gold’s clients have the opportunity to be informed by the best. Whatever your investment level or experience, you will learn. For us, communication is key and symbiotic: It advantages both dealer and client. We’re able to advise clients with strategies to best serve their budget and investment goals for the medium and long term. Mint State Gold will also make recommendations of what to buy and – importantly – what not to buy. Our mission is to strengthen and maximize their investments.
Certainly, this business model was a good fit of Mr. Hansen back in the early days of his collection. As time evolved, he built his own team of advisors and expects through his partnership with John Brush and David Lawrence Rare Coins. He still uses Mint State as a desirable source in the purchasing strategy. I do not know how many different dealers that Mr. Hansen and the Team have acquired coins from actively and inactively, but I am confident it is several hundred. Of all the dealers, Barry Stuppler - Mint State Gold will be remembered as one of the first, if not the very first dealer.
1901-S Liberty Head Eagle, PCGS MS67, Ex: Soluna Collection
Exceptional Type Coin
This exceptional type coin is not Mr. Hansen’s first MS67 for the Liberty $10, With Motto (1866-1907) type. In fact, this is his third. He is currently using a 1903-S MS67 in his type set. This new 1901-S MS67 is a great match for his third Liberty Head Eagle, which is the 1901. In a Heritage 2017 sale of the Hansen coin, the cataloger stated: This San Francisco Liberty ten is a stalwart choice for type collectors based on its high-quality production and lustrous, attractive color. With a mintage of more than 2.8 million pieces, it is one of the most available issues in the series. The present coin provides ample evidence of the popularity, with gleaming and frosty rich-gold color plus a sharp strike.
In the PCGS Auctions data, the first sale of a US $10 Liberty 1901-S MS67 coin was the uncertified example from the Eliasberg Gold Collection that was offered by Bowers & Ruddy in October,1982. The Eliasberg specimen realized $7,150. By auction data, the first certified MS67 specimen sold in August 1990 in a Stack' Auction. The coin was graded MS67 by Numismatic Certification Institute Coin Grading Service (NCI) and realized $11,000. The notes indicated the coin was graded MS67/67. They graded both sides if I recall. The first MS67 PCGS coin sold in a Heritage Auctions (Long Beach) in October 1995 and realized $18,700. There have not been a PCGS 1901-S MS67 specimen sold since this first and last in 1995 which is more than 27 years ago. The first MS67 NCG coin sold in a June 2000 Superior Galleries during a Pre-Long Beach Auction. The coin realized $10,350. In the period of the time between this sale in 2000 and today, NGC 1901-S MS67 specimens have been offered another 23 times, which is slightly more than once a year on average. A 1901-S Ten Dollar, MS67 ★ NGC holds the auction record from a 2017 Heritage sale. PCGS currently values the five PCGS specimens at $32,500.
Ron Gillio added: I believe there are as many as 200,000 1901-S $10 Liberties. I encountered this date on my first trip to Europe to buy coins in 1970. I went to Zurich with fellow coin dealers Mark Teller and Larry Hanks. The first coins we were shown at the bullion department of Credit Suisse was two 500 coin bags of brilliant uncirculated 1901-S $10 Liberties. That's all they were in those days...bullion coins. We told them we were looking for different dates and were then shown mixed date bags from which we picked Carson City mint coins and other rare dates. Unfortunately, the coins in Swiss banks are long gone and the coin departments are closed. But there were a lot of coins and we could have bought as many 1901-S $10 liberties as we could carry.
In addition to Ron Gillio comments, PCGS Founder and Coin Expert David Hall added a little more: The 1901-S is the most common $10 Liberty. Some experts feel as many as 200,000 still exist...and I agree with that estimate. Interestingly, about 90% of the survivors are uncirculated. These coins apparently didn't circulate much and were probably used for international banking and trade transactions as most of the survivors came from Swiss banks in the 1960s and 1970s when Swiss banks were the bullion traders and market-makers for the world. And that's what this coin was considered to be at the time...a bullion coin. Remember, at the time there were no American Gold Eagles, Canadian Maple Leafs, Chinese gold Pandas, or any of the other contemporary World bullion coin issues. And prior to 1975, the only "bullion" coins that were legal for American citizens to own were the Mexican 50 Pesos dated 1947 or prior, and the U.S. $20 and $10 gold pieces.
The US $10 Liberty 1901-S PCGS MS67 market has been dominated by NGC coins. NGC Census Detail indicates 24 graded MS67 including the sole finest MS67 ★ which hold the auction record. I know this number is high at least by one coin, because the Hansen PCGS specimen is still shown active as Cert #297695-011 in the report. The PCGS report has only five and the only one that I can confirm is the Hansen specimen.
As a NGC MS67, the Hansen coin appeared in two Heritage Auctions in 2017. The first was the sale of the Soluna Collection. The coin was recently offered on the Mint State Gold website by Barry Stuppler. The site described the coin offer as: Presenting a RARE 1901-S $10 Liberty Head that has graded an impressive MS67 by PCGS. A classic Gold Eagle for the true connoisseur, this Liberty is blazing with original mint luster across its golden surfaces. The devices are sharply defined and well contrasted with significant high-point detail throughout. The fields are satin-smooth and beam with glossy luster. This Gold Liberty is truly captivating with excellent.
The coin replaces a really nice 1901-S $10 MS66+ Cert #81338607. The core collection now has a solid PCGS Top Five specimen which continues to improve the Liberty Eagles in the core collection.
Provenance: The Soluna Collection / US Coins Signature Auction, (Heritage 1/2017 as NGC MS67, Cert #297695-011), January 4 - 9 FUN - Fort Lauderdale #1251 lot 5954, realized $22,325; CSNS US Coins Signature Auction, (Heritage 4/2017), lot 5444, realized $21,150; Purchase in Private Transaction from Mint State Gold as MS67 PCGS Cert #45691327, D.L. Hansen Collection.
1901-S Liberty Head Quarter Eagle, PCGS MS67
PCGS POP 5/0
Certification 45691327, PCGS #8749
PCGS Price Guide $32,500.00 / Unknown
Ex: Soluna Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
This is always an entertaining and educational thread. Some fantastic coins are the topic of this thread with lots of information about their attributes and history.
What would be interesting to learn is what level of involvement Mr. Hansen personally has in the search for and the acquisition of coins that become part of his collection.
I assume that for some areas of U.S. Coinage Mr. Hansen is very involved; and that for other areas (i.e. post 1933 US Coinage) Mr. Hansen is not very involved.
For example, for Jefferson nickels, both circulation strikes and proofs, does the Hansen search for these coins consist of Mr. Hansen delegating the search to others working with/for him with instructions to:
Find and acquire Top Pop coins that have positive eye appeal and minimal flaws; and
Do not spend more than X dollars on a purchase without obtaining advance approval to pay higher than X dollars.
I'm always agog when I see the condition rarities posted on this forum. Collectors like myself would likely never see many or perhaps any of these coins without travelling to a show or an auction preview, and even then would see comparatively few.
Thanks to all who take the trouble to post all the beautiful coins we enjoy vicariously on this forum.
Thank you again for this amazing thread. I'd be curious to know (this may have been covered already), as to why, for example, Dell Loy purchased 45 coins from the Fairmont Collection, using none for the core collection. How is he using these coins? Just to supplement his 2nd and 3rd sets? Also, when he upgrades his core collection, does he liquidate the replaced coin, relegate it to a lower set, or is it situational?
Lastly, and again, maybe this was covered recently, but how many openings does he have left in his core collection, and are there any upcoming auctions that have options to fill those holes.
Thanks Currin!
Liberty Seated Dollars with Major Varieties, Proof (1836-1873)
Every numismatist in the world will get excited over this set! The Gobrecht dollars of 1836-39 begin the set, followed by the extremely rare early No Motto issues. It's not until 1858 that any date is seen with regularity. The "With Motto" issues begin in 1866 and they are much more collectible, but still a fun challenge. Oh, yes, don't forget the 1866 No Motto silver dollar, which is one of the rarest coins in the world! – PCGS Registry
I had thought Mr. Hansen and Team had forgotten about this set. The last update was 7/13/2022 when one coin was replaced. There have been some recently opportunities, including the October Heritage offering of The Perfection Collection of Proof Seated Liberty Dollars. Of the 22 lots offered in the sale, I think I remember finding seven that would upgrade the Hansen core collection. I am not sure if the Hansen Team bided on any of the lots, but if so, they were shut out.
The Hansen Collection does not have a bad set of Seated Liberty Proofs, but they are subpar in comparison to the Hansen collection other dollar sets. The chart below tells the story. In looking at percentage in PCGS Top Five, the Seated Liberty Proofs is a full 15% below the average for the proof dollars. When set is updated, this coin will help slightly. The set does have a strong showing of sole finest PCGS POP 1/0 specimens with six coin out of a set of 39. There are 15% sole finest specimens which compares real consistent with the overall collection.
The overall Silver Dollar Proof Collection is missing eight coins starting with the first coin required in the proof collection. The 1801 is needed in a four coin set of early proof dollars. It is tougher to acquire than the 1804 specimen. Scott Rubin wrote: Of the two (1801) coins known the estimated grades are Proof 63 and 64, yet only one is in true high grade collectible condition, since one of the two is struck on a planchet that has cracked almost in half. The Amon Carter specimen shows what appears to be a die break on the obverse central area of the bust up thru the B of Liberty to the rim, like wise what appears to be a break on the reverse from the central area of the shield down thru the Eagle's right leg (viewers left leg) to the rim is really a planchet break that is almost halfway thru the coin. This was discovered by Carl Carlson when he catalogued the coin for the Stack’s L.R. French, Jr. family collection. It is very rare this coin appears in auction. The last appearance was almost 40 years ago (1984) with the Amon G. Carter Jr. specimen that was offered by Stack’s. The prior auction would be almost 40 years earlier (1945) when Numismatic Gallery offered the World's Greatest Collection I (Boyd Specimen). If history repeats, one of the specimens would be due to reappear in 2024 -2025.
The Liberty set required 39 coins making for the largest proof silver dollar set. The Hansen set is missing four with three being key date coins. They are the 1839 Original, 1841 and 1848. The Hansen Collection currently have an 1839 restrike but is not allowed to use the coin in the PCGS Registry Proof set. I would think these coins are a goal for the Hansen Collection. The fourth is a unique for private collector’s major variety; the 1866 No Motto which by a PCGS quote is one of the rarest coins in the world. There are two known. The Willis DuPont PR65 Deep Cameo PCGS specimen was donated to the National Numismatic Collection at the Smithsonian Institution and forever off the market. The only example available to collectors is the Bob R. Simpson PR63+ PCGS, CAC specimen that was offered is auction in 4/2021. The coin realized $1,050,000. Many expects in the community view this coin as pattern rather that a US Mint Issue. I think this pattern controversy may have played into Mr. Hansen interest in the coin.
The Proof Trade Dollars is one of Dell Loy Hansen’s show sets. He built this set early and quickly especially after acquiring the Perfection Collection of Proof Trade Dollars. This 11 piece PCGS Hall of Fame set provided a foundation for a great registry set. With the help of John Brush (DLRC), he acquired the Dunham/Starr/Parinno 1884 PR67, CAC specimen. This was in early 2018 timeframe. The set was completed in January 2019 when purchasing the Eliasberg PR65+ Specimen in the Heritage FUN auction. The coin realized $3,960,000 which I think still stands today as the most Mr. Hansen paid in auction for one coin.
The Morgan Dollars in the proof collection is certainly a set under construction. Although cannot be used in the proof set, the work was started with the purchase of the Prooflike Basic set, Circulation Strikes that was assembled by Texascoins. The set was retired Jan 2017 and I believe Mr. Hansen purchased the set in mid-2018. The D. L. Hansen set is currently 2nd All Time Finest. This may have hindered priority on his proof Morgans. Now back to the proof set, the set has the GPA numbers to be #1 All –Time Finest, but is still missing one coin, 1878 7TF Reverse of 1879. The coin is the most difficult coin in the set to obtain and have not appeared in auction in the past 18 years. This is one to watch.
The two Peace Dollar proofs does not have a PCGS set. In my opinion, the pair is required in a complete collection of US Dollar Proofs. The D.L. Hansen Collection has the 1922 “Matte Finish - High Relief” graded PR66 PCGS, Cert #25229755. This is a beautiful coin. The collection does not have 1921 exceedingly rare matte proof with only five known. Of the five, two are out of private hands with one at the American Numismatic Society and the other at the Smithsonian. The Col. Green specimen which cannot be located, last appeared when B. Max Mehl offered in February 1947. Another possibility is the 1921 Satin. I will save the satin proof discussion for another day, other than to add, currently only PCGS certified 1921 Satin Finish Peace Proof is available on Rare Coin Wholesalers website.
I have included the Eisenhower Dollars being they are the last of the large diameter coins. Thirteen coins are required in the total set and the Hansen Collection has twelve. In 2018, Mr. Hansen purchased the 1971 Type 1 Reverse Silver, PR69DCAM, POP 3/0 from Justin Spivack, owner of Monster Coin. This purchased positioned the Hansen set tied for All-Time Registry Top spot with Mitch Spivack. The set contains all finest coins and at this time cannot improve more than it is today. The set can be tied for All-Finest but cannot lose its number one spot unless someone finds 1971 Type 1 Reverse Silver that will grade PR70DCAM. The thirteenth coin is not required in the registry set. The unique 1976 No S Type 2 - Silver Eisenhower Dollar is owned by Justin Spivack by gift from his father Mitch Spivack. Will Justin ever sale? There is an old saying: everything is for sale at the right price.
This is the complete rundown of the D.L. Hansen Collection of Silver Dollars Proofs. With 2022 coming to a conclusion, I doubt we will see one of the eight missing coins obtained in 2022. Anything is possible, especially with one setting on the self at Rare Coin Wholesalers. It only requires a $329,500 check and the collection would be down to seven remaining.
1867 Seated Liberty Dollar, PR66DCAM
Coin Expert Ron Guth Comments: The Proof 1867 Seated Liberty Silver Dollar is a scarce coin with a total mintage of only 625 Proofs. It's not the lowest figure for the With Motto series (that distinction belongs to the 1868, 1869, and 1873 -- all with 600 Proofs each). Nor does the 1867 have the highest Proof mintage (that honor is reserved for the 1870 with 1,000 Proofs). All of the dates in this series are priced similarly despite the differences in mintages, perhaps because the surviving populations of each date are nearly identical according to the PCGS Population Report. Thus, the 1867 Seated Dollar is considered a type coin in Proof condition, though the buyer gets a slightly better mintage. Over 10% of the Proofs certified by PCGS thus far (July 2012) are Cameo Proofs. Deep Cameo versions are rare, and they are usually impaired by hairlines from old cleanings. The best Proof 1867 Seated Dollars certified by PCGS include a single PR66+, four PR65CAMS, and a single PR66DCAM. When selecting a Proof 1867 Silver Dollar, look for a strong strike, surfaces that are as free as possible of hairlines and/or contact marks, strong cameo contrast (if it exists), and appealing, natural color.
The 1867 PR66DCAM specimen replaces the existing Hansen PR64CAM, POP 24/13. The coin that grades finer than the Hansen PR66DCAM, POP 3/3 is the PR66+ from the Perfection 11 Collection. Also, there is the Ex Simpson PR66+CAM in the Clay and Linda registry set. The finest graded is a sole finest PR67CAM that I was not able to quickly trace. The Hansen specimen is tied with two other coins as the finest PCGS graded DCAM. One being a specimen from the Warren Collection that sold in Heritage 5/2022 Central States US Coins Signature Auction realizing $38,400. The auction record for a DCAM is $43,700 realized in a 9/2003 Goldberg Auction for a PCGS PR66DCAM.
Provenance: Purchase in Private Transaction from Tangible Investments, D.L. Hansen Collection.
1867 Seated Liberty Dollar, PR66DCAM
PCGS POP 3/3, Tied for Finest DCAM
Certification #45314397, PCGS #97015
PCGS Price Guide $47,500 / Ask $52,500
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Morgan Dollars with Major Varieties, Circulation Strikes (1878-1921)
What is it about Morgan silver dollars that brings out the demand for the best? Is it the romance of the Old West? Is it the memory of going to the bank to get a silver dollar to rattle around in your pocket? Is it the challenge of finding big, heavy coins that aren't peppered with marks and abrasions? Whatever the reasons, there have been some fantastic sets of Morgan dollars assembled in recent years, filled with coins of amazing quality and rarity. The rarest dates of the series in top condition include the 1884-S, 1886-O, 1889-CC, 1892-S, 1893-S, 1894-O, 1895-O, and 1896-O.– PCGS Registry
In the last posting, the discussion was on Proof Seated Liberty Dollars. This posting will be the Morgan Dollars with Major Varieties, Circulation Strikes (1878-1921). The Morgan Circulating Strike Dollars have really been a set in the core collection that have receive a lot of attention from Mr. Hansen and the Team. The work they have put into this set has continually moved it up in the PCGS set rankings. As seen on the screenshot below, the set is currently ranked #2 on the All-Time PCGS Finest Registry trailing only the Illinois Set. The Hansen and Illinois sets are tied in the PCGS Grade Point Average (GPA) raking at 66.02. The Hansen Set is trailing on overall ranking due to +13 bonus points for the Illinois set. This means the Hansen set need to upgrade seven coins to sole finest PCGS, or fourteen tied for finest, or a combination in between. The lead of +13 bonus points is fairly significant.
In November 2019, the Hansen core set had an ATF ranking of seven with GPA with bonus of 65.198. The set was a nice solid top ten registry set of Morgan Dollars. The work required to make any improvement is very hard. For Morgan Dollar collectors, you know collecting the condition census coins required in this set is very competitive. If you desire to be at the top in the pool, then you have to overcome great sets such as Jack Lee, Illinois, California, Coronet, Gold River and many others. This is not for the faint of heart. Now, fast forward three years and currently, the set has an ATF ranking of two with GPA with bonus of 66.46.
When retelling this story again, it really starts with the Stacks Bowers November 2020 Auction of The Larry H. Miller Collection of Morgan Dollars. Mr. Hansen purchased eight magnificent Morgan Dollars in the sale, paying approx. $3.6 Million with all coins going into the core collection. The lowest price that he paid was $66,000 for the 1886-S MS67, PCGS POP 5/0, CAC. The other seven coins all realized six figures, as shown below:
1895-S, MS67DMPL, POP 1/0, CAC, Cert #04884182, Realized $336,000, Ex: Jack Lee
1893-O, MS65DMPL, POP 1/1, CAC, Cert #04884185, Realized $360,000, Ex: Jack Lee
1892-S, MS68, POP 1/0, Cert #07455547, Realized $630,000, Ex: Jack Lee
1897-O, MS67, POP 2/0, Cert #05700150, Realized $348,000, Ex: Jack Lee
1895-O, MS67, POP 1/0, Cert #07455561, Realized $528,000, Ex: Wayne Miller/ Jack Lee
1884-S, MS68, POP 1/0, Cert #07455496, Realized $750,000, Ex: Chuck Walanka / Jack Lee
1893-S, MS65, POP 5/1, CAC, Cert #03134219, Realized $600,000, Ex: Larry H. Miller Collection
As we sometimes see, Mr. Hansen will follow-up a great purchase with a second punch. That is exactly what happened in late November 2020. The Illinois Morgan Collection was on the market. 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 them individually. Well, now Mr. Hansen’s second punch was the purchase of four of the PCGS POP 1/0 specimens.
1881 (4) MS67+, POP 1/0, Finest certified by PCGS
1883-S (7) MS67+PL, POP 1/0, Finest certified by PCGS
1898-O (1) MS68DMPL, POP 1/0, Finest certified by PCGS
1903-S (7) MS67+, POP 1/0, Finest certified by PCGS
These four upgrades provided enough of a bump, that the Hansen Collection hit #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 Morgan Dollars. It also represents a move to first place in the current rankings.
The second punch was really a combination, because he delivered another quick purchase of four additional Morgan Dollars a couple months later in January 2021. Three of the four coins were purchased from Barry Stuppler, (Illinois Collection). The other coin is from another source that Mr. Hansen frequently turns to, GreatCollections Auction. Here are the four 2021 upgrades and approximately when purchased.
GreatCollections Auction (1/24/2021)
1903-O, MS67+, CAC, POP 10/0, Tied Finest certified by PCGS
Barry Stuppler – Mint State Gold – Late January 2021
1878 7TF (Rev 79), MS67, POP 1/0, Finest certified by PCGS
1901 DDR, PCGS MS62, POP 3/1
1904-S, MS67 CAC, POP 2/0, Finest certified by PCGS
Mr. Hansen delivered couple addition punches in late May 2021. He picked a Morgan Dollar from Larry Shapiro Rare Coin. The 1883-O MS67+ CAC Approved (PCGS POP 20/1) coin is not that rare and expensive. The asked price on the website was $7,495. The coin sold in Heritage Central States US Coins Signature Auction in April 2021. Then, DLH purchased one additional coin from Barry Stuppler at Mint State Gold (MSG). The coin purchase was the 1894, MS65+ CAC (PCGS POP 6/6). The ask for the coin was $46,000. The coin replaced a MS64 with POP of 288/67. Then, a long wait before seeing any more action.
Fifteen months later and prior to the American Numismatic Association's World's Fair of Money in August 2022, John Brush on the behalf of the D.L. Hansen Collection purchased a large selection of Morgan Dollars from the Wurt Registry Set being offered by Shaun Bobb of Mike's Coin Chest. I am not certain the total that the Hansen team acquired, but it seems in the 23-24 piece range. I found a couple coins upgraded in #2 set, but the bulk were core set upgrades. Along with the five highlights below, there were 16 additional upgrades totaling 21 coins.
1880-O MS66 CAC, POP 2/0, “pop 1 CAC”, Obtained by D.L. Hansen, PCGS: $200,000
1886-O MS65 CAC, POP 6/2, Obtained by D.L. Hansen, PCGS: $285,000
1887-O MS66+PL CAC POP 2/0, Obtained by D.L. Hansen, PCGS: $100,000
1894 MS66+ “Pop 1/0”, Obtained by D.L. Hansen, PCGS: $200,000
1899-O (Micro O) MS66 CAC “Pop 1/0,” Obtained by D.L. Hansen, PCGS: $92,500
With these upgrades, the 117-piece Hansen Morgan set landed in the #2 All-Time spot behind Illinois Set. The most recent coin to be upgraded is also from the Wurt Collection. It may have been acquired in the August 2022 purchase or recently. It is the coin that enables the set to reach a tie in GPA with the top set.
1892 Morgan Dollar, MS66, CAC, Ex: Coronet / Wurt Collection
Premium Gem 1892 Morgan Dollar, MS66 PCGS
PCGS provides edited comments from Q. David Bowers which is from his "Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia": From the time of mintage through the early decades of the twentieth century, the 1892 was a major rarity. Very few had been released into circulation. However, Proofs were available readily enough, and they took care of the need to acquire a circulation strike of the date. This situation was true of such other Philadelphia Morgan dollar dates as 1894, 1897, and 1899, among others. The relatively few transactions involving Mint State 1892 dollars sold prior to 1940 did not take place at high prices. Accordingly, the erstwhile rarity of this date was not recognized until I researched the matter in connection with the present text. Large quantities of Mint State 1892 dollars were released by the Treasury in the late 1950s and early 1960s, before which time they were rare, as noted. By the late 1950s, they were very common. Harry J. Forman reported that Uncirculated 1892 dollars were second only to 1891 dollars from the standpoint of availability through Philadelphia banks at the time. However, by the time that the Treasury began emptying its vaults in earnest, circa 1962-1964, most 1892 dollars had already been paid out. The date was not well represented among later Treasury hoard coins.
PCGS CoinFacts gives the survival estimate at more than 100K in all grades and 88 survived in GEM MS65 or better. Oddly enough, PCGS has not graded specimens greater than MS66. The demand for Morgan Dollars are high. There are 359 PCGS MS65 GEM specimens and they have a PCGS Price Guide Value of $3,600. There are 82 PCGS MS65+ with value of $6,000. There are thirteen coins graded PCGS MS66 with none fine. There are only two of them that also carries the CAC sticker. The Hansen coin in one and I am not sure the collection the second CAC is located. The current auction record is $49,938. The record was achieved in a Legend Rare Coin Auction dated back in 2018 for a non-CAC.
Heritage Auction 8/2006 cataloger description for the Hansen MS66: Not only is this example tied for the finest certified, but it exhibits exceptional aesthetic appeal. Both sides are fully brilliant and highly lustrous with radiant mint frost. Although the hair above Liberty's ear is a trifle soft, it can be considered a full strike for the issue. Aside from a few scattered surface ticks on each side, the obverse and reverse are pristine.
I feel confident this coin was part of the original John Brush purchase from Mike's Coin Chest, although the coin is just making into the collection in the past few days. I am not sure why the delay. Was it out for reassessment? Was it lost or misplaced? For whatever the reason was, the MS66, CAC coin does make an excellent upgrade to the previous MS65DMPL. We will continue to watch and see if the set can overcome the top ranking Illinois Set. Could it be in 2023?
Provenance: Denver Platinum Night / Signature Auction (Heritage 8/2006 as MS66 PCGS Cert #06139833 ), Lot 5361, realized $24,150; PN Silver Dollar Session / FUN Auction (Heritage 1/2009), Lot 5007, realized $43,125; Coronet Collection / Regency XII Auction (Legend 6/2015 as MS66 PCGS Cert #28286112), Lot 58, realized $47,000; Wurt Collection (PCGS Set Registry); Prior American Numismatic Association's World's Fair of Money, David Lawrence acquired in offering by Mike's Coin Chest; D.L. Hansen Collection.
1892 Morgan Dollar, MS66, CAC
Certification #25635871, PCGS #7212
PCGS POP 13/0, CAC POP 2/0
PCGS Price Guide $55,000.00 / CAC Price Guide $60,000
Ex: Coronet / Wurt Collection
Thanks Heritage Auctions for 2009 Image
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
I'd be curious to know - Hansen watch, PCGS U.S. Coin Forum, by Jersey Cat
I always appreciate questions and comments. This is one that got me not only thinking but also digging a little deeper for some clarity. I do not have very much inside information, I would say that 90-95% of what I write is based on my four and half years of observation and study of the collection. You could say that I have completed my ungraduated degree and working on my masters. Many times, over the years I have asked the question.. why. Sometimes I find will information that will satisfy my curiosity and sometimes not. Let’s look at the post.
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why, for example, Dell Loy purchased 45 coins from the Fairmont Collection, using none for the core collection.
The Liberty Head Double Eagles is a very interesting set from the standpoint that it has produced very few duplicates as compared to the most of sets on the core collection. In the future, finding a Hansen Double Eagle will be a rare find. The way I understand the Hansen story has been told, he started with “Building” a set of St. Gaudens Double Eagles. After or near completion, he started thinking about what would come next. It is my understanding, the AWA Liberty Head Double Eagles came on the market about that time, and he bought it. The story as told by Mr. Hansen himself.
“After I finished my Saint-Gaudens collection, I decided to expand into $20 Liberty pieces,” he says. “One of my larger purchases was the AWA Collection of $20 Liberty gold coins which was put together over a lifetime of collecting. Once that transaction was completed, I looked to see what else could I do.” After that, he set his sights on the one collector whose name has loomed large in numismatics for generations. “At that point, I kind of got a bug to pursue the PCGS Registry’s idea of the Eliasberg collection. But, instead of stopping at 1964 and simply competing with him, why not expand on it another 55 years and do something no one else has done?” Hansen wanted to push the envelope. “In my career, I enjoy doing things that no one else has considered doing and what some consider ‘impossible’. The paragraph is from Rare Coin Market Report (November-December 2019).
It appears early on (2016-2018), Mr. Hansen focus on was a collection a nice example of every US issue coin which is similar to Louis Eliasberg. That changed. Several months ago, I quoted Mr. Hansen from interview from a segment named “A Behind-the-Scenes Look at the Hansen Collection”. The interview was part of the 2022 Newman Numismatic Portal Symposium, and I noted Mr. Hansen statement: Probably in ‘19, I made the hard decision that I am really going to go for best in grade.. really going to start to scrutinize the top coins for each date and grade.. asserted effort to buy those coins and upgrade those coins. Did having a partner like John Brush and the DLRC Team play into that decision. I think they did.” This change in 2019 started to create massive duplicates and many of them he did not sell. The Hansen Team started #2 sets just to help keep track of the second-best coins.
How is he using these coins? Just to supplement his 2nd and 3rd sets?
I think – Yes. Over the past year or so, this second set has become more that just for keeping track of his coins. In other words, we are seeing coins purchased just to build and expand a second set. The recent Fairmont sale, I think what we saw helps prove that theory. By my account, the Hansen second set of US Mint Strike Issues (1892-Present) requires 4552 coins. The second set is now 75% complete. More amazingly, 540 of the coins missing are post 1965 which is about 50% of the missing coins, making his pre 1964 coins 80-85% complete.
When he upgrades his core collection, does he liquidate the replaced coin, relegate it to a lower set, or is it situational?
All of the above and more. You will see in the feature coin today, he liquidated the coin, and then purchased it back and placed the coin in the #2 set. It appear the decision to start a second set of Liberty Head Double Eagles has been only recently. With the purchased of the 39 Liberty Head Double Eagles from the recent Fairmont sale, you can see below a second set was published 11/12/2022 and nearly 50% complete. Three days later, he followed up by purchasing back one of the coins he sold a few years ago, and that coin will be featured today.
1867 Double Eagle, MS63 PCGS, Ex: D.L. Hansen / Northern Lights of Vermilion
Several years ago, Expert David Akers wrote: Several substantial quantities of mint state 1867 Double Eagles were discovered in Europe in the 1960's and so the 1867 is relatively common in Unc. and is certainly one of the dates prior to 1873 most likely to be available in choice condition. These mint state "hoard" coins are characterized by attractive color (pink, green and copper) and excellent lustre. As many as several hundred uncs exist and although most are the typical bagmarked 60 quality, a number of them are choice or gem quality.
Years later, Ron Guth discovered: Though the 1867 $20 is available by the hundreds in Mint State, it rarely comes as nice as Akers suggested years ago. He wrote that a number of "choice or gem quality" examples existed, but they simply have not shown up yet -- certainly not at auction or in the population reports at PCGS or NGC. In fact, the best certified examples are a few pieces of MS63 quality. Thus, this date should now be considered under-rated in top condition.
It appears when Ron Guth wrote these comments, he may not be aware of the coin that David Lawrence Rare Coins describes as: The extraordinary MS66 piece. Also, the coin described by Heritage as: Unbelievable Condition, Finest Certified by Three Points. The coin is the Ex: Eric P. Newman Numismatic Education Society specimen that sold in an Eric P. Newman Collection Part V - US Coins Signature Auction held by Heritage Auctions, Nov 14, 2014. The amazing coin realized $258,500. This coin replaced a Hansen pedigree MS63 PCGS and certainly it was an incredible addition to the set. As great as the coin is, I have not featured it. At this point, I have not gone back and done any retro features. If I ever do, this coin would be a prime candidate.
PCGS CoinFacts gives the survival estimate to be 3212 coins in all grades with estimated survive in mint state as many as 312 coins. In grades MS choice or better, PCGS has certified five MS63 and no others except the Hansen/ Newman MS66. NGC has two MS63 and none finer except for the Hansen/ Newman MS66. The NGC MS66 should be removed for the POP report due to duplication. A total of seven MS63 specimens for both grading services could also have duplications. Amazingly, none of the MS63 specimens are CAC Approved. The only choice and better coin with the CAC Approval sticker is the Hansen/ Newman MS66.
The cataloger’s comments from The Northern Lights of Vermilion sale: The 1867 trades at only a small premium above melt in most circulated grades, but AU examples are scarce and Mint State pieces are predominantly in MS60 to MS62 grades. At the MS63 level, the issue emerges as a major conditional rarity, since the issue was struck too late to be included in the S.S. Republic, S.S. Brother Jonathan, or S.S. Central America. This lustrous and well-struck sun-gold specimen has a tick on the cheekbone, a slender line near obverse star 6, and a scuff on the field above the arrowheads. No other marks are worthy of comment.
“But there's always a first time for everything” - Blue Bloods by Melissa de la Cruz
I try to point out when I see something for the first time. This may not be the very first time it has happened, but it is the first time where I saw a Hansen pedigree coin sold from the core collection is later purchased to be placed back in the #2 set. I cannot discover any original sale information when David Lawrence sold the coin, but I do know the current coin in the core collection is a sole finest PCGS MS66 POP 1/0 purchased from Stuppler in late 2016.
This is what I do know from online data on the Hansen 1867 Double Eagles. In the lifetime of the collection, I believe there have been three of these coins. The first is the PCGS MS61 ex: Bass/AWA specimen that was included in the purchase of the AWA set. The coin was described as Beautiful prooflike surfaces with amazing eye appeal. It was sold in David Lawrence’s Internet Auction #1006 on Sunday, April 1, 2018, realizing $5,950. The certification number for this coin was 81722159 when in the Hansen Collection. Unfortunately, the coin has be recertified and has currently lost its provenance to Bass, AWA, and Hansen.
The coin that very briefly replaced the MS61 coin described as gorgeous MS63. The MS63 was purchased from one of Mr. Hansen’s early sources, Numismatic Financial Corporation, Inc. This coin appear to have been in the collection only a few months in late 2016. As stated, we do know the sole finest PCGS MS66 POP 1/0 was purchased in October 2016 and the MS63 was sold at some time after. I cannot find a record of the coin selling in auction, so we can assume it was sold in a private transaction by DLRC. The coin is pedigreed in the one of Hansen’s early Old Blue Holders (OBH). Recently, the coin was purchased in Heritage’s October 2022 Long Beach Expo US Coins Signature Auction of The Northern Lights of Vermilion Collection. It was purchased by David Lawrence Rare coins. The coin briefly appeared Oct 10, 2022 on DLRC website for sell. The Item Description: The primary collection holds the finest graded for the date, an extraordinary MS66 piece. The message currently is: This item is no longer available. After making a full circle, we now know that Mr. Hansen decided he wanted to bring this coin back home and found a place for it in his #2 set. As stated, this is the first coin that I have seen to have a second pedigree to the Hansen Collection.
Provenance: Purchase by D.L. Hansen in private transaction from Numismatic Financial Corporation, Inc.; D.L. Hansen Core Collection; presumably sold by David Lawrence Rare Coins; The Northern Lights of Vermilion Collection / Long Beach Expo US Coins Signature Auction of, (Heritage 10/2022), lot 3310, realized $27,600; Purchase by D.L. Hansen in private transaction from David Lawrence Rare Coins; D.L. Hansen #2 Set of Liberty Head Double Eagles.
1867 Double Eagle, MS63
Certification #81896655, PCGS #8951
PCGS POP 5/1
PCGS Price Guide $35,000.00 / Unknown
Ex: D.L. Hansen Core / Northern Lights of Vermilion
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
@Currin your previous post (2nd above) stated:
In the last posting, the discussion was on Proof Seated Liberty Dollars. This posting will be the Morgan Dollars with Major Varieties, Circulation Strikes (1878-1921). The Morgan Circulating Strike Dollars have really been a set in the core collection that have receive a lot of attention from Mr. Hansen and the Team. The work they have put into this set has continually moved it up in the PCGS set rankings. As seen on the screenshot below, the set is currently ranked #2 on the All-Time PCGS Finest Registry trailing only the Illinois Set. The Hansen and Illinois sets are tied in the PCGS Grade Point Average (GPA) raking at 66.02. The Hansen Set is trailing on overall ranking due to +13 bonus points for the Illinois set. This means the Hansen set need to upgrade seven coins to sole finest PCGS, or fourteen tied for finest, or a combination in between. The lead of +13 bonus points is fairly significant.
https://us.v-cdn.net/6027503/uploads/editor/2v/lmqj1g99qupm.png
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The part about the bonus points and +13 is not correct. I will try to explain briefly (but it won't be) how this works but not sure I can or that it will come across clearly.
For each set there is a divisor. This can be found by clicking the 'Set Composition' button at the top of the main page of each set. The divisor is at the bottom. For this set the divisor is 540.
On this 'set composition' page it also shows the 'Weight' of each coin in the set on the far right. The divisor is the sum of all the individual coin 'Weight'.
The coin 'Weight' indicates how many times the individual coin counts in determining the set rating. A coin with a 'Weight' of 5 would be counted 5 times, a common coin with a 'Weight' of one only once and up to a 'Weight' of 10 where the coin would be counted 10 times.
Example with the above - Coin 1 MS64 weight 5 gets 320 points - Coin 2 MS68 weight 1 gets 68 points - Coin 3 MS62 weight 10 gets 620 points. Total set points 320 + 68 + 620 = 1008.
The divisor would be the sum of the Weights 5 + 1 + 10 = 16.
The set rating would be 1008 / 16 = 63.000
When Bonus points are added for Top Pop (+2) or Tied (+1), then that gets include into the coin grade and also multiplied by the Weight.
Example Coin 1 is tied for top pop and gets +1 additional grade points. Therefore 1 X 5 = 5 more points Or can do it from the grade and MS64 +1 = MS65 and weight 5 gets 325 points total for the coin.
This would bump the set with bonus points to 1008 + 5 = 1013 Or 325 + 68 + 620 = 1013.
The set rating with bonus points would be 1013 / 16 = 63.3125
Now to get back to the Hansen to Illinois set. Using the numbers quoted above of 66.59 and 66.46, what does the difference of 0.13 indicate?
First is the divisor for this set of 540. That means that a one (1) Weight coin with a grade increase of +1 (say 64 to 65) would increase the set rating by 1 / 540 = 0.001852 (rounded). This is because it would increase the total set points by 1 and then to get the set rating one would divide by the divisor of 540.
So to determine how many grade points 0.13 is for this set would need to divide by (1 / 540) or 0.001852 which is the amount 1 grade point is worth for a set rating or 0.13 / 0.001852 = 70 grade points (rounded). Grade points are the grade or the bonus points.
Example for the Hansen set. If the first coin 1878 8tf was upgraded from the MS66+ (66.5) to the Top Pop MS68, then the Hansen set would increase by +1.5 for the grade times the Weight of 5 = 7.5 grade points times the 0.001852 = 0.01389. So 66.02 + 0.01389 = 66.03389.
The set rating with bonus points would include both the grade increase and the +2 for Top Pop. So the +2 for top pop times the Weight of 5 times the 0.001852 = 0.01852. The set rating with bonus points would go up to 66..46 + 0.01389 + 0.01852 = 66.4924.
Note: if you click on the blue set rating it will list the set rating time line. Or if you hover the mouse over the blue it will show the current rating. Some sets (and as far as I have seen they are retired sets) don't agree with the set rating shown on the first page top 5 sets. The Illinois set is one. It is indicated to be 66.533 in both but the first page has the 66.59?
On this page for the Basic Morgan set this is true (bad) for both the Illinois set and the Coronet set. If you click on the blue number for the set rating it indicates they are number 3 and 2 for ATF because their set rating is lower than that of Jack Lee which on the first page is number 3 but a higher set rating. Don't know why these set rating numbers sometimes disagree with the first page.
https://www.pcgs.com/setregistry/dollars/morgan-dollars-major-sets/morgan-dollars-basic-set-circulation-strikes-1878-1921/88
I did Not double check these numbers so hope not to many typos.
https://youtube.com/watch?v=2YNufnS_kf4 - Mama I'm coming home ...................................................................................................................................................................... RLJ 1958 - 2023
‘’I have included the Eisenhower Dollars being they are the last of the large diameter coins. Thirteen coins are required in the total set and the Hansen Collection has twelve. In 2018, Mr. Hansen purchased the 1971 Type 1 Reverse Silver, PR69DCAM, POP 3/0 from Justin Spivack, owner of Monster Coin. This purchased positioned the Hansen set tied for All-Time Registry Top spot with Mitch Spivack. The set contains all finest coins and at this time cannot improve more than it is today. The set can be tied for All-Finest but cannot lose its number one spot unless someone finds 1971 Type 1 Reverse Silver that will grade PR70DCAM. The thirteenth coin is not required in the registry set. The unique 1976 No S Type 2 - Silver Eisenhower Dollar is owned by Justin Spivack by gift from his father Mitch Spivack. Will Justin ever sale? There is an old saying: everything is for sale at the right price.’’
Currin: Thank you for your continued enlightening discussion of all the various coin series tied to Mr. Hansen’s landmark collection. With respect to the Ike dollars - yes, we had no problem helping Mr. Hansen add the 1971 Type 1 Reverse Silver Finest known to his collection. We had 2 coins and we were fine letting one go at a very fair price. It wouldn’t surprise me if the 1971 Ty 1 coin (at the price we charged him) outperformed 90%+ of every coin ever purchased by Mr. Hansen for his great set. Mark my words on that. Also, I have not requested that the (currently) Unique Proof Ike Dollar be added to all the various Registry sets it can rightfully be added to. This is intended so collectors like Mr. Hansen and hundreds and hundreds of other collectors do not go from a 100% complete set to a set that can never be completed without the Unique Silver Ike. To date, the Unique Ike has only been included in the Top 100 Modern Coin set and a single set of Ikes; namely the Complete MS & Proof Ike set with major varieties (both of which I am personally ranked #1 in). Mr. Hansen will never possess a complete set of Proof Ike dollars including major varieties without this Unique Ike (the only Proof Silver Ty 2 Ike known that is dated for the Bi-Centennial year of our country). But, there are obviously other great coins he will never own as well. No one can own everything.
To correct your statement- the No S Ike is not owned by Justin and never has been. I had originally planned to gift it to Justin in my Trust with my daughter getting an equal value to the Ike from other sources. That became nearly impossible to do with the skyrocketing value of the Ike over the past roughly 20 years, and Justin was given a very special different coin as a gift a few years back. So, G-d willing, the No S Ike will be sold publicly in my lifetime and the proceeds received from the sale will benefit me, my wife, both children and whatever charity we donate some of the proceeds to.
Wondercoin
Shield Two Cents with Major Varieties, Circulation Strikes (1864-1872)
PCGS Registry describes this set as: Here's a set that's short but filled with challenges. You'll be able to build more than half of the set in short order, but then comes the 1864 Small Motto, the 1872 and perhaps another date or two that's truly elusive. The Major Variety set adds two more coins to the Classic set: the 1867 Doubled Die Obverse and both the plain, and fancy "5" variety of the 1865. It's a unique denomination, a one-time design (although similar to the Shield nickel) and a beauty of a set when it's completed.
This is a series where the 10 coins that make up the D.L Hansen basic set. This core set is cooking. All the coins are at least PCGS condition census top five specimens. There are four of the ten that are PCGS sole finest POP 1/0 specimens. There are another four that are tied for finest PCGS certified. The other two coins: one is the 1865 MS66+ RD that has a condition census POP 22/4 and the second is 1866 MS66RD with POP 14/4.
The D.L. Hansen Collection has a solid representation on the PCGS Registry Shield Two Cents All-Time leaderboard with two sets, first as #1 and the second set as #5. It is unusual that all top five sets are current. You have to go down to number six spot to find the first retired set. Also, the Hansen Basic set is 100% Red. I would consider nice PCGS top five coins are suitable for the Hansen core sets, therefor there is not a weakness in the basic ten coins. The two major varieties are the weakest in the Hansen Collection of Shield Two Cents.
Fancy "5" variety of the 1865
Ron Guth describes how to identify this variety: Here's how to tell the difference between the Plain 5 and Fancy 5 1865 Two Cent pieces: Plain 5: the top edge of the 5 appears flat or slightly curved; Fancy 5: the right half of the top edge of the 5 dips dramatically, creating a distinctive "flip" to the point of the 5. In a 2014 Heritage sale, the one of the two finest specimen was described as: Similarly, PCGS historically has been slow to recognize the Plain and Fancy 5 variants, but that has changed, as this Red Superb Gem coin's insert proves. Any MS67 Red two cent coin is a great rarity; as of (11/13), the PCGS Population Report lists one 1864 Large Motto, one 1865 without 5 specified, and this coin. Currently, this MS67 Red PCGS coin from The Wineguy Collection holds the auction record reached in January 2014 by realizing $25,850. The coin is currently in HighDesert registry collection.
The other of the two finest (MS67 Red) was offered in Legend’s Regency 55 Auction on 10/20/2022. The auctioneer estimated the coin would bring $24,000 to $28,000. The coin was described as: This SUPERB GEM example is mint fresh! Shimmering RED surfaces are aflame with a bold, radiant, and stunningly brilliant mint luster. Sharply struck devices stand out for their crispness. This coin boasts nothing but exquisite eye appeal! In disappointing results, the coin realized $17,625 assuming it sold. It interesting in seeing that Mr. Hansen and his DLRC Team elected not to be aggressive with this coin at this price. For now, the 1865 MS66RD POP 18/17 will remain in the D.L. Hansen Core Collection.
1867 Doubled Die Obverse
Ron Guth comments on this coin: The 1867 Doubled Die Obverse Two Cent Piece is a dramatic and fairly obvious error. The most obvious doubling can be seen on the motto, where most of the letters (especially those in GOD) are widely doubled, with the first impression too far to the left. The arrows and the leaves on the left side of the wreath show clear doubling. Unfortunately, the date is not affected. This is a very desirable variety, but it is relatively easy to find in circulated grades and can still be cherrypicked on occasion. In Mint State, the population is low, especially with full Red color. As of September 2011, PCGS reported 26 Mint State examples out of a total population of 94 pieces. Of the Mint State examples, 10 were Brown, 14 were Red-Brown, and only 2 were Red. The finest examples certified by PCGS were 3 MS64 BNs, 3 MS65RBs, and 1 MS65RD.
The auction record for this coin was also achieved in a 2014 Heritage’s January FUN US Coin Signature Auction. The cataloger description of the 1867 Doubled Die Two Cent, MS65 Red coin: The classic Guide Book-listed variety shows clearly under magnification. Lemon, apricot, and peach surfaces show a single sizable spot at the M of AMERICA on the reverse. As an ordinary Red Gem 1867 two cent piece, this coin would be a condition rarity; as a Doubled Die, it is the sole finest Red example certified by PCGS. The current PCGS report have four MS65RD specimens. Are there any duplicates? Not sure.
Very similar to the Fancy 5, one of the four top (MS65 Red) specimens was offered in Legend’s Regency 55 Auction on 10/20/2022. The auctioneer estimated the coin would bring $22,000 - 25,000. The coin was described as: This is a warm, red GEM. Brilliant mint color dominates both sides, though it has mellowed somewhat, with some delicate iridescent peripheral overtones. This is light enough that it did not lead to an RB designation. The devices show complete definition, sharply impressed by an exacting blow from the dies. A couple of ancient flecks and a small planchet flake identify this GEM and have minimal impact on the overall eye appeal! In another disappointing result, the coin realized $15,862.50. This would have been a great opportunity for Mr. Hansen to replace his MS63BN, the POP 10/42.
1864 “Large Motto”, MS67RD PCGS
Expert Comments from Ron Guth: In 1864, the Philadelphia Mint produced two versions of the Two Cent piece, both relating to the size of the letters in the motto IN GOD WE TRUST. The Large Motto replaced the Small Motto and became the model for the remaining years of the Two Cent type. The Large Motto variety is the more common of the two.
The auction record specimen for this coin currently resides in the GoodTrimes Registry Set. The coin from the College Collection was offered in the Heritage’s August 2015, ANA U.S. Coins Signature Auction. The coin is one of four PCGS certified specimens. The cataloger described the 1864 “Large Motto” as: “This remarkable Superb Gem is tied with one other for the finest 1864 Large Motto at PCGS, but its importance transcends this one issue. In the entire two cent series, PCGS has certified only four coins as MS67, including this piece and its numerically equal Red counterpart, a single MS67 Brown representative of this same date, and an MS67 Red 1865 coin (6/15).” The coin realized $19,975. There are now two addition specimens graded MS67 Red since 2015 increasing the PCGS POP to 4/0. CAC has not approved a MS67RD for a sticker.
The new Hansen coin appeared in Heritage’s June 2020 Long Beach Expo US Coins Signature Auction. The coin was graded MS66+ Red PCGS with CAC Approval. The coin was described by cataloger as: This is the usually seen Large Motto style of 1864 two cent pieces, but it is a quality that is far from usual. This Premium Gem has brilliant and frosty orange mint luster with a few splashes of deeper orange, and wisp blue overtones that add to the eye appeal. The sharply repunched 1 in the date may be a key to variety attribution. The coin realized $9,000 for a MS66+RD. Currently, the coin is graded MS67RD PCGS but as stated, is not CAC Approved.
The 1864 “Large Motto”, MS67RD PCGS coin makes a nice improvement to already a great set of Shield Two Cents. It will be interesting to watch and see if the two non-condition census varieties are upgraded in upcoming opportunities.
Provenance: Long Beach Expo US Coins Signature Auction in Dallas, (Heritage 6/2020 as PCGS MS66+RD, CAC, Cert #34000488), lot 3375, realized $9,000; Purchase by D.L. Hansen in private transaction from David Lawrence Rare Coins; D.L. Hansen Collection.
1864 “Large Motto”, MS67RD PCGS
Certification #40881995, PCGS #3578
PCGS POP 4/0
PCGS Price Guide $27,500 / Unknown
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Liberty Head $10 Gold with Major Varieties, Circulation Strikes (1838-1907)
As we are seeing 2022 winding down, the flow of updates into D.L. Hansen Collection has begun to dwindle. That can be expected during this holiday season with all the activities that are going on. Also, we may be seeing a breather before the January fireworks show at the FUN events. Those sales including, Bass, Bender, O’Neal, etc. should be cool to watch from the sideline. I thought we could have seen a few upgrades posted from the Heritage US Coins Signature Auction held December 15 – 18. I am not sure if there were no purchases by the Hansen Team, or they could be slow to post in the registry. I did find a recent Seated Liberty Eagle purchase in a late October from a Great Collections Auction. I think that at the end of the year would be another great time to do a quick recap of the Hansen Liberty Head Eagles.
The entire mint state Liberty Head Eagle set is 184 coins. The set is described by PCGS as: This long, long series stretches from the time when Abe Lincoln was less than 30 years old to the years when Teddy Roosevelt was in power. The set is filled with rarities, but there are no so-called "impossible" coins as are seen in many other series. The classic rarity is the famed 1875. This set involves three distinct types: the No Motto Covered Ear, the No Motto and the With Motto. The "Varieties Set" of this great series is not that different from the Basic Set. Yes, there are a few goodies to add to the Basic Set, but well over 95% of the work and fun are done before you get to the varieties.
Mr. Hansen completed the set in February 2020. With completion, the Hansen set became the #1 All-Time PCGS Registry 184-piece set. The set has remained in the top spot ever since. The set has received annual “Best of the Registry” for the last five years straight, with Gold Award Winner in 2019. During this time, the set has been constantly improved. In February 2020, the GPA with bonus points for the Hansen #1 set was 58.898. After about 48 Upgrades in the past 2.5 years, the set now has a GPA with bonus of 59.680 which is approaching a full one point improvement.
My last discussion on this set was a recent post November 3rd. The Hansen Team upgrade the set with a purchase from the Heritage 2022 Long Beach Expo US Coins Signature Auction. The coin was a sole finest specimen, 1867 Liberty Head Eagle, PCGS MS62 from Northern Lights of Vermilion Collection. In that posting, I described the top five sets in the PCGS Registry. In this post, let’s look at the details in the top set. Other than being All-Time number #1, these are the other key indicators in the Hansen 184-piece set:
14 Coins - PCGS POP 1/0, Sole Finest, highlighting the amazing 1839/8 Type of 1838, PCGS MS66, CAC.
35 Coins - PCGS Tied for Finest Certified, highlighting the incredible 1870-CC, AU55, POP 3/0.
31 Coins - PCGS Certified One Finer, highlighting the astonishing 1884-CC, MS62+, POP 1/1.
64 Coins - PCGS Condition Census Top Five, highlighting the remarkable 1875, AU50, POP 3/3
This impressive set is 78.26% PCGS condition census top five. Of the non-CC specimens, the bottom five coins with the highest PCGS POP are:
1842 Small Date, AU53, PCGS POP: 8/21
1882-S, MS62, CAC, PCGS POP: 111/21
1892-O, MS62, PCGS POP: 192/15
1855-O, AU53, CAC, PCGS POP: 10/12
1850 Large Date, MS61, PCGS POP: 8/11
As you can see, the set still has a ways to go and the 40 coins that are not condition census which makes prime candidates for upgrading. Before featuring the coin, let's look how it fits in a 11-coin run.
1895-O Liberty Head Eagle, PCGS MS-63+
Just Two Coins Finer at PCGS (HA 5/2022)
This PCGS Condition Census coin may be the last eagle upgrade in 2022. In fact, this could be the last upgrade period. If it turns out that way, it is a nice way to finish the year. Gold expert Doug Winter describes the date as: The 1895-O is similar in overall and high grade rarity to the 1892-O and the 1893-O eagles. It is another issue that has become far more available in the past decade due to the discovery of a group of hoards. The 1895-O is almost never seen below AU55 and most of the surviving examples grade AU58 to MS61. It is scarce in properly graded MS62 and rare in MS63. I have never seen or heard of a piece that graded higher than MS63. Currently, there are eight PCGS specimens graded MS63+, and only three MS64. It appear the PCGS MS64 has gone from just two to currently three since May 2022. In the NGC POP report, there is one MS63+ and one MS64. Two of the three PCGS MS64 specimens are CAC Approved. There are 10 MS63 CAC approved, but I cannot confirm any are MS63+.
The three MS64 specimens have never appeared in auction with that grade. The limited appearances of the high end coins is puzzling. With the three MS64 having no appearances, the Hansen coin is the only MS63+ that has been offered in auction. The coined appeared twice in 2022, once in a May Heritage Auction and later in a October Great Collections. The only NGC MS63+ appeared in the Heritage 2017 ANA US Coins Signature Auction. The coin was cataloged as: The 1895-O ten comes from a mintage of only 98,000 coins and is rare in MS63. Only a single numerically finer coin is known. This Plus-graded Select example displays sharp motifs and satiny straw-gold mint luster. A few light, scattered abrasions are consistent with the grade. This New Orleans issue is underappreciated in this condition. Census: 11 in 63 (1 in 63+), 1 finer (6/17). The NGC POP has not changed from 2017, and the NGC MS64 has never appeared in auction. The Fairmont hoard placed three new MS63 PCGS specimens in 2022 Stacks Bowers Auctions. So far, the Fairmont ceiling has been MS63 for this coin.
I found four auction appearances for the Hansen MS63+ specimen. There was brief mention of the coin in a 1/2007 Stack’s Auction called the Orlando Sale. The coin was in lot 1388. Then the coin was part of the M.B. Tucker Collection of U.S. Gold Coins before being offered in a Stacks Bowers, 11/2011 sale. In this sale, the cataloger described the coin as: A frosty and lustrous specimen with warm orange highlights on honey gold surfaces. Choice and appealing for the grade, and among the finest examples of the date certified by NGC. The coin was graded MS63 and sold for $5,175.
After eleven years in dark places unknown, the coin appear again in a May 2022 Central States US Coins Signature Auction. This time in a PCGS MS63+ holder. The coin was described as: Prominent die lines appear near the Y in LIBERTY, confirming the attribution. This is a marvelous high-end New Orleans eagle from a mintage of 98,000 coins. Design definition is strong throughout. Warm, satiny luster glows from minimally marked orange-gold surfaces. The coin realized $7,800 and still have an active Cert #43978204. The coin was purchased in the Great Collection Auction for the Hansen Collection. It had a new certification for the May Heritage sale. The coin replaces a MS63 Hansen pedigreed coin that dates back to 2016.
Provenance: The Orlando Sale, (Stack’s 1/2007), lot 1388; The M.B. Tucker Collection of U.S. Gold Coins / November 2011 Baltimore, (Stacks Bowers 11/2011 as NGC MS-63), Lot 9746, realized $5,175; Central States US Coins Signature Auction (Heritage 5/2022 as PCGS MS63+, Cert #43978204), lot 4860, realized $7,800; Great Collections Auction, (10/2022), Item ID: #1225487, realized $10,273.95, D.L. Hansen Core Collection
1895-O Liberty Head Eagle, PCGS MS-63+
PCGS POP 8/3
Certification #45818790, PCGS #8733
PCGS Price Guide $10,000.00 / Realized $10,273.95
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
I don't know what shuffling they are doing but some of his date sets have fallen in rank.
Interesting, I have not noticed. I don’t pay much attention to the date or basic sets. They are subsets of the major variety sets. I review and look for upgrades in the 69 MV core sets and 67 proof sets. There are currently almost 2000 Hansen registry sets. I am not sure how often they are updated. I focus on less than 100 sets and the large complete sets. All my upgrades are found in those sets which covers all the core coins. Although, what you are saying is interesting. If you post a couple sets as examples, it could be interesting to dig into. Lastly, I don't think Mr. Hansen goal is to have the finest coin in every slot. It appears the core collection of approx. 6500 coins (if you count proof in the core collection) is tracking toward 100% PCGS Top Five. This is not something that I heard him declare as goal, but it is what I see in tracking. He is not there yet, but this is what I see his updates are tracking to:
15% PCGS POP 1/0, finest certified by PCGS.
Another 35% tied, which results in 50% of the core collection will be PCGS finest.
The number of specimens that is second finest with only one PCGS graded finer is 15-20%.
The remainder is tracking toward PCGS Top Five which means only four coins can be graded finer.
Currently,
The mint strikes (4558 total) core coins are 42% Finest and 77% Top Five
The proof (1916 total) coins are 51% Finest and 72% Top Five.
-- Note that he still has 230 proof coins missing that negatively impact this percent.
Again, I am not implying these are Hansen's goals, only that is the way I see this large core collection tracking. What I don't see as much, is him focusing on the smaller date and basic sets and making them number. If you are competing in the entire sets, i.e. Major Variety, then look out.
This is only my observations, nothing more
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
That sure is a clean 63+ must be pretty muted luster in person which I imagine is common for the issue.
The 1868 Mint set in particular. I was #1 for years, got pushed to #2 and then now I am back at #1.