@Clackamas1 said:
The 1868 Mint set in particular. I was #1 for years, got pushed to #2 and then now I am back at #1.
If I looked at the correct one, then it has a coin missing from the set. This could just be a bookkeeping thing. Remember there are thousands of coins and hundreds of set. So having something get missed when updating might be expected to some extent.
Currently his Morgan dollar basic set is missing a coin (1891-O) but the same set with Major varieties (an additional 20 coins) is 100% complete with an 1891-O included.
“The specimen in that 1990 RARCOA sale, as observed by the cataloger, stood at the top of the condition census, thanks to the MS-64 grade PCGS's experts had assigned it. In its very-early-generation PCGS MS-64 slab it realized $26,400. And then it disappeared. Sometime around 2003 an MS-66 submission event suddenly appeared in PCGS's database. It represented this coin from that 1990 RARCOA auction. That was of course a huge leap in condition rating, from MS-64 to MS-66. And it once again moved this piece to the number one position on the condition census." - Rusty Goe, Stack’s Bowers March 2020 Auction - The D. Brent Pogue Collection Part VII: Masterpieces of United States Coinage
Sometimes I miss some really nice updates. The feature coin today is one of those that I somehow overlooked this year. I would love at some point pedigree the core collection. Then, gauge the diverse provenance of the collection, for example, how many Pogue coins? How many Eliasberg coins? How many Bass coins? The list can go on with other great collections as Battle Born, Fairmont Hoard, Link, Morelan, and many others. Maybe at some point this work can be commissioned. That brings us back to the task at hand, the missed upgrade. The coin is from the great Brett Pogue collection, and is a PCGS finest certified, and from the famed Carson City Mint. This coin has all the making for a pretty cool coin.
The coin was updated in the 114-piece Carson City Set months ago, but I missed it until recently. The 1874-CC Half Dollar with Arrows is one of six coins produced at the Carson City mint in 1874. The production consist of three silver coins: dime, half dollar and the trade dollar. The three gold coins were the half eagle, eagle and double eagle.
The feature coin today represents the only sole finest POP 1/0 PCGS coin in the six piece faux set. The coin replaces an extremely nice GEM MS65 PCGS. The now duplicate coin has a very rich history. According to CoinFacts, the coin is from Harlan P. Smith Collection, possibly sold privately, as there is no such lot in the 6/1906 S.H. & H. Chapman sale. It then went from John M. Clapp to John H. Clapp and sold to Louis E. Eliasberg, Sr. as part of a large collection. After leaving the Eliasberg collection, the coin went into the Stellar Collection for some time before going to the Eugene H. Gardner Collection. The coin was sold in a Heritage Auction on 5/2015 realizing $94,000, which still holds the Auction Record. Less than two years later in March 2017, Dell Loy Hansen purchased the coin in a private Transaction from Numismatic Financial Corporation, Inc. This coin is certainly worthy to be in the Hansen Core Collection, but there is one better. According to CoinFacts, the belief is that only two coins survived in GEM condition. Both the MS65 and MS66 specimens are in the D.L. Hansen Collection.
1874-CC Liberty Seated Half Dollar. Arrows, MS-66 PCGS, Ex: Pogue
Finest Known 1874-CC Half Dollar
Coin Expert Ron Guth comments: For collectors of coins from the Carson City Mint, there are two "must-have" Half Dollars: the 1870-CC and the 1874-CC With Arrows. Both have similar mintages, but for some reason, the 1870-CC is considerably rarer in all grades. The 1874-CC With Arrows Half Dollar is more of a condition-rarity -- though low-grade examples are expensive, they are not as costly as the 1870-CC. In Mint State, the 1874-CC With Arrows Half Dollar is represented by a handful of low-end Unc.'s, a couple of MS63's, a few more MS64's, then two MS65's and a single MS66. The PCGS MS66 example remains a mystery as it has not appeared on the market since it was first graded in 2003. The best example that has been available to collectors is the Eliasberg PCGS MS65 that reappeared in 2015, setting a record price of $94,000 for the date. At least three die pairs were used to strike the 59,000 1874-CC With Arrows Half Dollars.
These comments from Ron Guth is a little dated and the mystery on the MS66 PCGS was solved in Stacks Bowers March 2020 Auction of The D. Brent Pogue Collection Part VII. I started this post with a comment from Rusty Goe pertaining to: This extraordinary Gem is the finest certified for the 1874-CC, although its earliest provenance has apparently been lost. The story continues with commentary provided by the Stacks Bowers cataloger: The PCGS CoinFacts website confirms the 2003 grading event referred to by Rusty Goe: "The PCGS MS66 example remains a mystery as it has not appeared on the market since it was first graded in 2003." Rusty Goe further states, "Sometime around October 2012 the owner of this coin put it up for sale through a dealer-broker reportedly at a price in excess of $100,000." The eventual buyer was D. Brent Pogue, and the coin is now making its first auction appearance as a PCGS-certified MS-66. We anticipate a new record price for the issue when this highly significant 1874-CC half dollar crosses the auction block. This is one of the many coins that was not publicly known to be in the Brett Pogue Collection until it was offered for sale.
In the Pogue sale, the coin was described as: This is a simply outstanding example of the key date 1874-CC half dollar, a coin that offers both unrivaled condition rarity and a mystery surrounding its provenance. The surfaces are lovely, both sides dusted with iridescent antique silver, champagne-pink and powder blue over full, softly frosted luster. A touch of softness to the top of Liberty's head and stars 7 to 12 is common for the issue and hardly worthy of mention, especially since the balance of the design elements are sharply to fully rendered. Exceptionally smooth and virtually pristine. Here is a phenomenal condition rarity with superior technical quality and strong eye appeal that will do justice to the finest collection of Liberty Seated or Carson City Mint coinage.
The cataloger added a few comments on rarity and availability: The 1874-CC is one of only two Carson City Mint issues in the Arrows, Motto half dollar type of 1873 to 1874. It is rarer than the 1873-CC Arrows in all grades and, with a mintage of 59,000 pieces, it is one of the key issues among Liberty Seated half dollars. According to Bill Bugert in the 2010 reference A Register of Liberty Seated Half Dollar Varieties, Volume II: Carson City Branch Mint, only 300 to 350 examples of the 1874-CC are extant in all grades. In his forthcoming book The Confident Carson City Coin Collector, Carson City Mint expert Rusty Goe takes a more conservative view with an estimate of just 165 to 220 coins known. Most survivors are of the WB-3 variety, as here, and the vast majority are in low grades with heavily worn or impaired surfaces. Locating a Mint State example is extremely challenging, with Rusty Goe estimating that only 16 to 19 Uncirculated coins are extant. These high grade coins survived almost purely as a matter of chance since there was no known numismatic interest in Carson City Mint coinage during the 1870s.
The D.L. Hansen Collection of Carson City coinage is really coming along and taking shape nicely. There is still work to be done in 2023 and beyond, but the six coins produced at the Carson City mint in 1874 are important for the overall success of this great collection. I would think the trade dollar may be on short leash. The new coin was offered in late summer by Rare Coin Wholesalers. Even though the Hansen core collection had a nice GEM specimen, it appears the Hansen Team could not walk away this time when the sole finest became available. This is a very nice upgrade to a nice collection of coins.
Provenance: Auction '90, (RARCOA August 1990 as MS64 PCGS), lot 729, realized $26,400; The D. Brent Pogue Collection Part VII: Masterpieces of United States Coinage, (Stacks Bowers, March 2020), lot 7293, realized $84,000; Purchase in Private Transaction from Rare Coin Wholesalers (8/2022), D.L. Hansen Collection.
1874-CC Liberty Seated Half Dollar. Arrows, MS-66 PCGS PCGS POP 1/0, Finest Known Certification #38855704, PCGS #6347 PCGS Price Guide $135,000 / Unknown Ex: Pogue
Fourth Upgrade to the Hansen / Morelan Collection of Mint State Seated Liberty Dollars
This is one of the most challenging of all 19th century silver sets. The coins are big and heavy, leading to lots of bagmarks on most surviving mint state examples. In addition, rare dates abound, including the ultra-rare 1870-S, the tough Carson City issues, the rare dates in the early 1850s-the list could continue. Collectors usually choose to buy two examples of this series, one "No Motto" and one "With Motto." A complete set? A great joy and an even greater challenge! - PCGS Registry
This is another miss upgrade that occurred mid-July. Many of you may know the history and the story of the D.L. Hansen purchase of the Bruce Morelan Collection of Mint State Seated Liberty Dollars. The official communications on the DLRC website states: January 2018 - DLRC brokers Legend Collection of Seated Dollars. The coins were updated in the Hansen registry set on December 26-29, 2017. There were two uber sets of coins purchased in the first 18 months of Hansen collecting, the first was the AWA set of Liberty Head Double Eagles and just a few months later, this great set of Silver Dollars. Mr. Morelan wrote a few comments “About This Set” on the PCGS website: The Morelan Collection is the absolute finest ever completed. It's also the ONLY set ever completed in 100% uncirculated condition. It is highlighted by the James A Stack specimen of the 1870-S, the finest of only 9 coins known. In addition, it contains such amazing rarities as the Starr 1844, Norweb 1845, 1850-O and 1851, Garrett 1848, Fairfield 1849, Hayes 1866, Stack 1871-CC, Austin 1872-CC and the Share 1873-CC.
In late 2017 and early 2018, David Lawrence Rare Coins brokered a deal to bring this world class 44-piece Silver Dollar set into the Hansen stable. The almost flawless set did have one flaw, the 1870-CC. The coin that came in the deal was an 1870-CC MS62 PCGS POP 8/8. This was an Ex: Eliasberg Specimen that was described in lot 2242 in the April 1997 sale of the Eliasberg Collection as: "MS-62, prooflike. A splendid specimen, struck from a highly polished obverse die, the reverse die less so, but still prooflike. Delicate golden toning on the obverse and reverse, the latter with a splash of lilac and gray. One of the nicest we have seen of this extremely popular issue. High aesthetic appeal plus a high end Mint State numerical grade combine to make this one of the finest known." At the time of the auction, this wonderful survivor opened for bidding at $4,000 and closed at $22,550 (inclusive of the buyer's fee). The coin was offered in Legend’s Regency Auction XXII on 7/13/2017 and realized $41,125. This coin had a great pedigree, but it is subpar for this world class set. I think there is story to be told and it may be that Bruce sold his 1870-CC prior to the Hansen deal. For whatever reason, the MS62 was the first of four coins that Hansen upgrade in five years.
1870-CC MS62, Cert #83666831 Morelan Specimen (Replaced 7-12/2018) This coin probably should not be referred to as a Morelan Specimen, but it was purchased with the set. Also, it was the first specimen to be replaced in the core collection. The coin is still in the collection, but currently not being used. The Eliasberg MS62 was quickly replaced with 1870-CC MS63 Cert #10789430. The POP 7/1 coin is from the William Porter Collection and currently is in the D. L. Hansen Liberty Seated Dollars (1840-1873) 2nd Set. Both the MS62 and MS63 served only six months in the core set before the final upgrade in July 2018. Hansen purchased from Chris Napolitano the sole finest PCGS certified MS64, Ex: French/ Wong / Battle Born Specimen. The MS64 coin last appeared in Stacks Bowers August 2012 Philadelphia ANA Auction where it realized $129,250 (Auction Record). When offered as lot 1194 in (Stack's) session of Auction 84, the coin was described, in part, as: "Prooflike surfaces and needle-sharp in strike. In the cataloguer's opinion, this is the finest known and more than likely struck for presentation as the first year of issue of the Carson City mint. The coin is really perfect..." per Stacks Bowers cataloger (8/12).
1861 MS65 Cert #81226399 Morelan Specimen (Replaced 12/2018) This GEM has a PCGS POP 3/3 that Morelan described as: Completely original with moderate to thick toning over near perfect surfaces. After a 6-to-12-month stint, the Morelan coin was replaced in the core collection. The coin was sold on Nov. 10, 2019 by David Lawrence Rare Coins in Internet Auction #1090 realizing $61,500. The cataloger described the coin as: An absolutely gorgeous example from the Civil war period. The surfaces are completely original with moderate blue, rose, and green tints. A low mintage of 77,500 coins struck. CAC approved for quality. The Hansen collection houses another MS65 examples as well as the finest graded MS66 example for the date. The other MS65 that is currently in the #2 Hansen set is described as Dazzling Brilliant-White Gem Unc 1861 Seated Dollar (Stacks Bowers 8/2011). The core coin is a PCGS sole finest 1861 MS66 Cert #02070132 purchased in December 2018 from US Coins.
1863 MS66, CAC, Cert #21572855 Morelan Specimen (Replaced 3/2020) This GEM has a PCGS POP 4/1 that Morelan described as: Beautiful velvet mint frost graces the devices. The fields are free of contact marks with only a few scattered lines limiting the grade. Very flashy. In 3/2020, the Morelan coin was replaced when the PCGS sole finest was acquired by David Lawrence Rare Coins for the core collection. The PCGS Cert #38634068 MS67 coin was from the Brett Pogue Collection and described as Stunning Superb Gem 1863 Silver Dollar. The cataloger described the coin as: This richly and originally toned Superb Gem is truly lovely, with warm steel and pewter gray patina and exceptional undertones of vivid cobalt blue and lilac-purple. Fully struck, highly lustrous, and virtually pristine. Mr. Hansen was able to acquire this Pogue Specimen for $108,000. The Morelan specimen is currently in the #2 Hansen set.
1850-O MS63 Cert #21572870 Morelan Specimen (Replaced 7/2022) This choice GEM is the fourth Morelan coin to be replaced. The MS63 has a PCGS POP 4/2 that Morelan described as: The Norweb specimen. An extremely rare date in unc, this coin has abundant luster and eye appeal. In 7/2022, the Morelan coin was replaced in the core collection with one of the two MS64 specimens. The coin was acquired from Rare Coin Wholesalers. The PCGS Cert #42594092 MS64 coin was from the Rod Sweet Collection and described as Incredibly Rare MS64 1850-O Seated Liberty Dollar. The Morelan specimen is currently in the #2 Hansen set.
With four coins replaced in five years, says a great deal about the incredible set of 44 coins that was built by Bruce Morelan over many years. The four replacements coins were three PCGS POP 1/0 Sole Finest Specimens and one POP 2/0 coin. Maybe more importantly, 43 of 44 Morelan coins are still in the D.L. Hansen Collection. Let’s look at this latest replacement.
1850-O Seated Dollar, MS-64 PCGS, Ex: Ex: Rod Sweet
Tied Finest PCGS Certified
Expert Q. David Bowers Comments: This is the second New Orleans issue of Liberty Seated silver dollars. 40,000 were struck (compared to only 14,000 1850-O gold dollars). Circulation was intended to be domestic and probably was primarily in the Mississippi Basin. At the time, river trade was burgeoning, and silver coins of all denominations were in strong demand. Walter H. Breen suggests that bullion dealers may have melted many 1850-O silver dollars. If you want a Mint State 1850-O dollar for your collection, I suggest that you compromise and acquire an EF or AU instead, at least as an interim strategy, for it may be years, if ever, until you can buy a nice Mint State coin. Examples are few and far between.
Of the two PCGS MS64 coins, the other specimen may be considered by many as the finest. The coin is CAC Approved and still in an OGH-First Generation. Before the Hansen coin was crossed over to PCGS, the other coin was cataloged as the finest PCGS certified for many years. It also holds the auction record of $141,000 obtained in Legend’s Regency Auction in July 2022. The Hansen Specimen has not appeared in auction since 2012 as MS64 NGC Cert # 3416412-002. Therefore, it is difficult to compare auction results.
In the 2012 auction, Heritage cataloger described the date and mint as: The New Orleans Mint struck four dates in the Liberty Seated dollar series, all before the addition of the motto IN GOD WE TRUST in 1866. Of those four, the 1859-O and 1860-O are common, by the measure of the series, in Mint State. However, the 1846-O -- and especially the 1850-O -- are seldom encountered in Uncirculated grades. Only 40,000 pieces of the 1850-O were struck. In the March 1979 Gobrecht Journal (as quoted in the Bowers silver dollar reference), Bruce Lorich wrote of his review of 100 years of auction records, concluding that Mint State specimens of the 1850-O appeared less often at auction than any other Seated Liberty dollars except the 1855, 1870-S, 1871-CC, and the "non-existent 1873-S." The Bowers reference also says "... it may be years, if ever, until you can buy a nice Mint State coin. Examples are few and far between."
The coin is described as: The present near-Gem offers light copper-gold and steel-blue toning near the borders. The fields and devices are nearly brilliant, with a slight golden cast. The strike is good if not complete, with slight softness seen only on the eagle's head and a few star centers. Abundant luster emanates from both sides, and there are light signs of die rust noted in the upper left reverse field. As a final note, the CAC POP reports one MS64 (the previous mention OGH specimen) and three MS63. One of the three MS63 CAC coins is the Hansen/Morelan Specimen that is currently in the Hansen #2 set.
Provenance: Rod Sweet Collection (Bowers and Merena, 7/2005), lot 1047, realized $29,900; Long Beach Signature Auction, (Heritage 2/2006), lot 1657; Signature Auction, (Heritage, 7/2006), lot 2653; realized $37,375; Central States Signature, (Heritage, 4/2009), lot 2575, realized $21,850; US Coins Signature Auction, (Heritage, 8/2012), lot 5186, realized $23,500; Internet Coin Auction, (Heritage, 11/2012 as MS64 NGC Cert # 3416412-002), lot 26972, realized $24,675; Purchase in Private Transaction from Rare Coin Wholesalers (7/2022), D.L. Hansen Collection.
1850-O Seated Dollar, MS-64 PCGS PCGS POP 2/0, Tied Finest Certified by PCGS Certification #42594092, PCGS #6938 PCGS Price Guide $125,000 / Unknown Ex: Rod Sweet
The petty 50o $ was an incredible coin and was one of my favorites while lot viewing. I actually sent a video of her to the winning bidder. It went to the right home! 🤫
"Considering how desirable Proof double eagles may appear to a collector today, it is ironic that at one time there was very little interest in them. In 1920, for example, Henry Chapman, the well-known Philadelphia dealer, was retailing brilliant Proof double eagles of the early 20th century for $22 to $24 each, just a nominal amount above face value!" - The cataloger who described the present piece for the second Garrett auction in March 1980.
Before we wrap up and place a bow of 2022, I want to post one more amazing proof issue. This was an addition to the Double Eagle Proof Set. This new coin advances the D.L. Hansen Collection of Collectable Gold Proofs one step closer to completion, so let’s recap the progress the Mr. Hansen has achieved. I have detailed the eleven sets that comprise the complete collection for proof gold from 1859 to 1915 (all collectable). The set consists of 294 coins. As I have stated before, PCGS does not have a set that represents these sets, so this chart provides a fairly accurate representation.
Since the gold proofs from the Heritage’s 2022 US Coins Signature Auction a few months ago, the collection has advance slightly. The collection requires 294 coins with only 61 remaining. Previously, I had determined that Mr. Hansen is on a pace of about 15 new additions per year. At this pace, the collection is about four years away from completion. There will be opportunities in 2023 from both the sale of the Harry Bass and the Tom Bender Collections. Will Mr. Hansen maintained the 15 coin pace, or will 2023 be a banner year for proof additions? Or a decline? Next year at this time, we will know that answer.
1901 Liberty Head Double Eagle, PR66CAM, Ex: Garrett
Exquisite PR66 Cameo 1901 Double Eagle
David Akers wrote a few decades ago: The 1901 is rare in proof, more or less equivalent to the 1896 and 1900. Approximately 30-35 proofs are known.
The 1901 Liberty Head Double Eagle reports a mintage of 96. CoinFacts Rarity and Survival Estimate is 42 for all grades, including twelve that are PR65 GEM or better. Of those twelve, the Bob Simpson PR66+ DCAM specimen is the Single Finest Certified at PCGS. The coin appeared in Heritage’s Central States US Coins Signature Auction on in May of 2022. The cataloger described: In United States Proof Coins, Volume IV: Gold, John Dannreuther notes: "The 96 proofs struck in 1901 are scarce with heavy frost, as the lighter frost found from 1898 onward begins to become even lighter. Only a few coins have received the coveted deep cameo designation. "By 1902 one almost never sees a cameo designation, much less a deep cameo example. In 1903, not a single deep cameo double eagle has been seen by a third-party grading service, with cameo examples scarce." The Simpson specimen realized $288,000 (Auction Record). The second coin on the PCGS roster is a sole PR66DCAM which not much public information is known.
Once you get pass these two DCAMs, the next on the roster is a trio of PR66CAMs with the new Hansen/ Garrett coin as one of them. Of the three, one of them are CAC Approved. None of them have appeared in recent auction, so a pedigree of the #3CC PR66CAM CAC cannot be determined, but we know it is not the Hansen / Garrett specimen which I believe would be tied for #4CC on a PCGS roster. The last appearance of the coin was in a Heritage (CSNS) US Coin Auction in April 2009. The cataloger described the Hansen 1901 coin as: This Premium Gem offers outstanding black-and-gold contrast with potent mirrors. When tilted just so under a light, the fields gleam canary-yellow, though the rims show occasional elements of orange and honey. A handful of lint marks appear on each side, the most noticeable one in the lower left obverse field with a slight overlap on Liberty's neck. The cataloger for the Garrett auction noted that "In terms of overall quality, this 1901 Proof is in the very front ranks of extant specimens." A look at contemporary certified population data bears this out.
The coin was acquired in an early August and included in the Hansen Proof Collection. If you take note of the timing, the Simpson coin was offered in May of 2022. It is very possible that Mr. Hansen was the under bidder on the finest PCGS CC#1 specimen. The collection still needed a 1901 Double Eagle Proof, so it appear the Hansen Team fulfilled the need with a CC#4 specimen a couple months later. Now, there are only 61 coins to go.
Provenance: Garrett Collection Part 2; (Bowers & Ruddy, 3/1980 as uncertified PR65), lot 800, realized $60,000; (CSNS) US Coin Auction, (Heritage, 4/2009 as NGC PF66 CAMEO, Cert #3211844-001), lot 2773, realized $92,000 (Not Sold); Purchased by David Lawrence Rare Coins for The D.L. Hansen Collection.
1901 Liberty Head Double Eagle, PR66CAM PCGS POP 3/2 Certification #45169105, PCGS #89117 PCGS Value Guide: $300,000 / Unknown Ex: Garrett Collection
Liberty Head $2-1/2 Gold with Major Varieties, Circulation Strikes (1840-1907)
"The true scarcity of this and other very rare Philadelphia Mint gold coins is sometimes lost because of the focus most collectors give to the popular branch-mint issues. The 1865 quarter eagle is much rarer than some of the more-sought-after Southern gold rarities." - Jeff Garrett and Ron Guth wrote in their Gold Encyclopedia
PCGS Registry describes the Liberty Head $2-1/2 Gold with Major Varieties set as: This is one of the longest-lived series in all of numismatics, beginning more than two decades before the Civil War and lasting into the 20th century. It is a challenging but not impossible set, with the ultra-rare 1854-S being the number one key. Charlotte and Dahlonega gold coins are sprinkled throughout the set, adding greatly to the appeal. Of course, there are some tough-to-locate pieces from New Orleans, San Francisco and Philadelphia, too. Now, by adding the varieties in this set, it’s even longer (more coins) and tougher to complete. The 1843-C Small Date is always scarce and popular, as are the reverse varieties of 1859, 1860 and 1861 and the ultra-famous and historic 1848 CAL. If you’ve gone far enough to complete the basic set, you'll definitely want to add these significant varieties!
The D.L. Hansen Collection of Half Eagles get a lot of love. In 2022, the quarter eagles did receive a little love too. At the start of 2022, the GPA with bonus of the 147-piece set of Hansen Liberty Head Quarter Eagles was 60.846. By year end, that the grade for the set was 61.602, almost a full point increase. In reviewing the history of the set, 24 coins were upgraded in 2022, representing 16.3% of the set. With all the upgrades, the D. L. Hansen Liberty 2 1/2 Gold (2nd Set) is coming along nicely. It is over 89% complete and rank #4 in that All-Time list behind Harry W. Bass and Louis Eliasberg.
D.L. Hansen started 2022 with a large purchase of nine quarter eagles from Rare Coin Wholesalers. They were all condition census PCGS Top Five coins with the 1842-O the best graded sole finest PCGS POP 1/0. This set up for a good year for the quarter eagle set. Now, let’s look at the details in the 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 1842-C, PCGS MS65, CAC.
27 Coins - PCGS Tied for Finest Certified, highlighting the incredible 1862, MS64+ CAC, POP 2/0.
32 Coins - PCGS Certified One Finer, highlighting the astonishing 1841, AU58, POP 1/1.
46 Coins - PCGS Condition Census Top Five, highlighting the remarkable 1854-S, VF-35 CAC, POP 2/2
This impressive set is 80.95% 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 28 coins that are not condition census which makes prime candidates for upgrading. Let’s review the feature coin for today.
1865 Liberty Head Eagle, PCGS MS61
One of Two Mint State by PCGS, None at NGC
Expert David Akers wrote: Like the 1864, the 1865 is extremely rare as a nonproof. Of the 25 appearances at auction in our 226 catalogue survey, only 10 were busienss strikes. I have never seen a mint state 1865 and, in fact, have seen less than a dozen nonproofs in all. Although its mintage is greater than for either the $3 gold piece or half eagle of the same date, the quarter eagle is significantly more rare than either of those two denominations in nonproof condition. The 1865 and 1864 are two of the rarest dates in the entire series and, disregarding proofs, have actually appeared at auction less often than any other quarter eagle except the 1804 13 Star Reverse and the recently discovered 1862/1.
This coin is not well documented from online sources except for Doug Winter. He penned an article in 2012 titled: Assembling a Year Set of Civil War Gold Coins, Part Four: 1865. For the 1865 Quarter Eagle he wrote: The final quarter eagle of the rare three year run from 1863 to 1865, this issue has an original mintage of only 1,520 plus 25 Proofs. It is not as rare as the 1864 quarter eagle but it is a very difficult coin to find with few than three dozen known in all grades. The 1865 is unique in Uncirculated with a single MS63 graded at PCGS. The next best available coins are a small group of AU58's, which are currently valued in the $20,000-25,000 range depending on quality. This is a nearly impossible coin to find with original color and surfaces and it is actually a bit more difficult to find with good eye appeal than the more acclaimed 1864. For a high quality Civil War set, finding a choice AU55 to AU58 would be an impressive accomplishment.
In 2008, he pinned another related article titled: The Ten Rarest Liberty Head Quarter Eagles. In the article he stated: Due to the fact that it has a mintage of just 1,520, some people have assumed that the 1865 is a rarer date than the 1864. This is not the case as the 1865 appears to have a slightly higher survival rate. My best estimate is that there are 25-35 examples known. According to the PCGS Population Report, there is an example graded MS63. I am not aware of this piece but assuming that it exists, it is by far the finest known and it is the only Uncirculated 1865 quarter eagle that exists. Both PCGS and NGC show an abnormally high number of coins graded AU58 and this is as a result of multiple resubmissions. I believe that there are around six or seven properly graded AU’s known as well as another ten or so in EF. When available, this date tends to have below average eye appeal due to very scuffy surfaces. I haven’t seen more than a handful of 1865 quarter eagles that were totally original and choice. At current price levels, I think this coin is excellent value as it is a major rarity that can be purchased in a Condition Census-level grade for less than $20,000.
A few months ago, an 1865 NGC AU55 CAC was offered on Doug Winter’s website. In this posting, he confirmed the existence of the MS63 PCGS specimen and described the rarity as: The 1865 is the second rarest business strike Philadelphia mint Liberty Head quarter eagle after the 1864. Only 1,520 were made and there are around 30-40 known with most in the EF40 to AU50 range. I sold the only known Uncirculated piece (a PCGS MS63) to a collector many years ago and the 1865 is a strong R-7 issue in AU grades with fewer than 10 properly graded pieces known. This issue has multiple levels of demand as it is sought by Liberty Head quarter eagle specialists, Civil War collectors and individuals who purchase truly rare coins. The Hansen MS61 was known at this writing, but was not mentioned in the Winter description. I would assume that the recent upgrade from a PCGS AU58 to MS61 due to Mr. Winter’s expert eye was not impressed with the upgrade. Also, other than the confirmation of existence, not much else is known about the finest coin. Only additional interesting fact that I can find is that in the 1941 B. Max Mehl sale of the W.F. Dunham Collection, a MS65 specimen described as “Brilliant Uncirculated with Proof surfaces”. The coin realized $42.50. Could it be the MS63 PCGS?
As for the Hansen MS61, the coin is only the second specimen to be certified mint state by PCGS. In Heritage, 2/2020 Long Beach Expo US Coins Signature Auction, the cataloger wrote: A mintage of just 1,520 pieces and the failure of coinage to circulate in the Eastern two-thirds of the country during the Civil War made 1865 quarter eagles rare from outset, and this Philadelphia date remains extremely rare in all grades today. It equals the scarcity of several branch mint gold pieces of the era, although collectors do not always recognize the fact. This is a nearly Mint State example, with sharply struck devices and reddish-gold patina over semireflective fields. Only a few tiny marks and delicate hairlines are seen under a loupe. The eye appeal is exceeded only by its abject rarity, two factors that argue for a perceptively strong bid.
The Hansen MS61 PCGS CC#2 coin replaces the PCGS CC#3 coin in the core collection. The previous coin was AU58+ from the Soluna Collection. I would except for see more upgrades to the set in 2023.
Provenance: Long Beach Expo US Coins Signature Auction, (Heritage, 2/2020 as AU58 PCGS, Cert #38794793), lot 3149, realized $45,600; 4/2022 Purchased by David Lawrence Rare Coins for The D.L. Hansen Collection.
1865 Liberty Head Eagle, PCGS MS61 PCGS POP 1/1 Certification #39155314, PCGS #7801 PCGS Price Guide $125,500.00 / Unknown
The 2022 ANA Auctions – The James R. McGuigan Half Cent Collection (4 of 4)
Half Cents with Major Varieties, Proof (1831-1857)
There were several pronounced auctions in 2022 that produced multiply purchases by the DLRC team. Let’s recap a few of the bigger ones. Also, there were a couple private purchases including the Dr. Charles Link Half Dollars and the Wult Morgan Dollars. Here is a quick recap and the number of coins that I featured in 2022.
The Fairmont Collection-Hendricks Set by Heritage featuring eight coins.
Dr. Charles Link’s Early Half Dollars by private transaction with DLRC featuring eleven coins.
Wurt Collection of Morgan Dollars by private transaction with DLRC featuring four coins.
The 2022 ANA Auctions – Tom Bender Seated Liberty Dimes featuring two coins.
The 2022 ANA Auctions – The James R. McGuigan Half Cents featuring three coins (four including today).
The 2022 ANA Auctions – Tom Bender One Dollar Gold featuring two coins
The 2022 ANA Auctions – Georgia Gold Rush Collection of Dahlonega featuring five coins.
The 2022 ANA Auctions – Daryl J. Haynor’s Virginian Collection of Classic Gold featuring four coins.
The 2022 ANA Auctions – Heritage’s 2022 US Coins Signature Auction featuring four coins.
Historic Harry W. Bass Jr. Core Collection Part I - US Coins Signature Auction featuring eight coins.
Heritage 2022 Long Beach Expo US Coins Signature Auction featuring two coins.
Winter 2022 Auctions - The Harvey B. Jacobson, Jr. Collection / Stacks Bowers featuring three coins.
Winter 2022 Auctions – Fairmont Collection (CBL Set) / Stacks Bowers featuring two coins.
As stated, 2022 produced some great sales as collections were coming out that had been tucked away in some situations for decades. As for 2023, we don’t have a clue what more to see with the Fairmont Collection. Stacks Bowers is holding information close to their chest on that one. We do know there will be more to come from Bender and Bass Collections starting the January FUN show. Also, we know the Stewart Blay Lincolns will be auctioned by Great Collections in January. He has other great series, but no word if they will be auctioned in 2023 as well. There were collections that were unexpected offered in 2022, as with the Georgia Gold Rush Collection of Dahlonega and the Daryl J. Haynor’s Virginian Collection. Well, see more of this type of high-end coins available in 2023?
The most valuable 2022 Hansen purchase was the 1861 DCAM Double Eagle. The coin came from the “Important Selections from The Bob R. Simpson Collection, Part VII”. In the Heritage Auction, January 2022 FUN US Coins Signature Sale in Orlando, this PR66DCAM PCGS coin was headlined as: 1861 Double Eagle, PR66 Deep Cameo, One of the Rarest Dates in the Series, Only Five Examples Traced. The coin is also the finest and with a rich history as stated in the listing: The Bob Simpson example presented here is widely recognized as the sole finest extant. It can be traced back to the collection of another Fort Worth oilman, Amon G. Carter, Sr., where the Stack's cataloger called it "A choice example" of "One of the rarest of all double eagle Proofs... ." Ed Trompeter purchased the coin out of the Carter sale. Heritage Auctions purchased the entirety of that collection in 1998, selling off the individual coins privately of the course of a couple of years. This example found its way into the Franklinton Collection. It made its last public appearance as PR67 Ultra Cameo NGC in the August 2006 American Numismatic Rarities sale of that collection, where it was described as: An intensely beautiful gem Proof, a superb coin by any standards. Heavily frosted motifs, blemish free we might add, sit serenely against deep mirror fields, as though chiseled from living gold. An exquisite coin, and easily among the most beautiful gold coins ever seen by the present writer in nearly 20 years of numismatic cataloguing." It realized $1,800,000 with PCGS Value of $840,000 at the time of the sale. The current PCGS value is $2,150,000 with price history chart:
It is difficult for me to pick one coin in 2022 as adding the most significance to the collection. I tend to lean to coins that are not in the collection which I call expansion coins. I cannot say any one of these that I am mentioning today were more significant than the other because three completed sets and the half eagle is one coin closer. With all the purchases in 2022, the best four coins that come to my mind are:
1797 1/2C C-3c Gripped Edge, AG3BN. This coin is one of the nicer additions acquired in the James R. McGuigan Half Cent Collection / US Coins Signature Auction. The coin is now the lowest PCGS graded specimen in the Hansen’s 4560-piece US Mint Strike Issues (Core Sets). Before this purchase, it was the only coin missing coin in the 54-piece Hansen Collection of Half Cents with Major Varieties, Circulation Strikes (1793-1857). The all-time registry had three collections listed that are 100% completed High Desert, Missouri Cabinet, and Jim McGuigan. With this purchase, D.L. Hansen becomes the 4th completed collector in the registry.
1852 1/2C, Large Berries (Restrike), PR64+ BN. This coin can certainly be referred to as an ultra-rare Major Variety Proof from the James R. McGuigan Half Cent Collection / US Coins Signature Auction. This was the only proof coin missing the Hansen’s Entire EAC Collection of Proofs. The coin was once in another great collection that was assembled by Louis E. Eliasberg, Sr.
1798/7 $10 7X6 Stars, F15. This coin finally ended the hunt for the 1798/7 Capped Bust Right Eagle, Stars 7x6 specimen. 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.
1810 $5 Large Date, Small 5, AU53. Although this coin did not complete the five-dollar set, the significance of acquiring this specimen was of great achievement. Maybe the biggest is 2022. The coin from Historic Harry W. Bass Jr. Core Collection is finest of four confirmed examples. It did complete the Type 1, Capped Bust, Large Bust Half Eagles (1807 – 1812) subset. This is an eleven-coin subset of the Capped Bust Half Eagle set. The entire 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 317-piece entire circulating strike half eagle (1795 – 1929) gold collection. The Hansen Collection ends 2022 with three missing coins in the 317-piece half eagle gold set: 1798 Small Eagle, 1820 Curl Base 2, Small Letters, and the famous 1822.
All four of the coins were significance to reducing the missing coins in the 4560 specimens of US Mint Strike Issues to only 14. This set is slightly different than the Eliasberg quest which has 13 missing. A few coins overlap. It will be interesting to see how aggressive the Hansen Team will be in 2023 and if these numbers can be reduced even more. There will certainly be several once in a lifetime opportunities.
In retrospection, I believe the James R. McGuigan Half Cent Collection offered in US Coins Signature Auction was a little over shallowed by the other sales during the same time. This 1834 Half Cent, PR65 Red was certainly a coin worthy of a feature post which I missed. I will end 2022 with this POP 1/0, only known red specimen.
1834 Half Cent, PR65 Red, PCGS CAC, Ex: McGuigan
The Only Red Proof at PCGS
In a past Heritage Commentary: Walter Breen suggested a proof population of about 18 pieces in 1983, and Ron Manley concurred with that figure, based on a combined NGC and PCGS population of 19 pieces in January 1997. Today, more than 17 years later, the combined population has increased to 30 proofs. While some resubmissions are inevitable, the proof survival is likely closer to two dozen examples.
Whether survival is 30, two dozen, or 18, the fact of the matter, there is only one red in all grades for this proof. Heritage also wrote: The best examples of proof 1834 half cents are this piece that is graded PR65 Red PCGS and the Missouri Cabinet coin graded PR66 Red and Brown PCGS (High Desert Specimen). Five others are graded PR66 Brown or PR65 Red and Brown. Richard T. Coleman, Jr. identified the prior provenance of this example from an Al Overton mail bid auction dating to the late 1950s, the provenance presumably provided by William Weber. Dan Hamelberg provided the specific provenance information where the coin was described as Brilliant Red.
Heritage added: Colorado Springs, Colorado was the home of Albert Charles Overton who was born in Coos Bay, Oregon on May 1, 1906. He entered the coin business in 1940 and conducted more than 40 auctions from then until 1965, including the 1963 and 1965 American Numismatic Association convention sales. He was a past president of the Professional Numismatists Guild. Overton was the author of Early Half Dollar Die Varieties, 1794-1836. He received the ANA Medal of Merit in 1967. Overton died at Colorado Springs on February 11, 1972. Heirs of the Overton estate sold his half dollar reference collection to Sheridan Downey in 1993.
The Hansen Half Cent Proof set is second in ranking to The High Desert by a good amount. The HD set has a dozen PCGS POP 1/0 specimens compared to Hansen’s six. I would rank the 1834 specimen as the second-best coin in Hansen’s half cent proof set behind the previously mentioned 1852 1/2C, Large Berries (Restrike), PR64+ BN.
Provenance: Albert Charles Overton (9/1958), lot 169; William Weber (3/1982); US Coins Signature Auction, (Heritage, 8/2022), lot 3124, realized $96,000, D.L. Hansen Collection
1834 Half Cent, PR65 Red, PCGS CAC PCGS POP 1/0, Only Red Proof at PCGS Certification #30451311, PCGS #1203 PCGS Price Guide: $100,000 / Realized $96,000 Ex: James R. McGuigan Half Cent Collection
@Currin said:
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 above is in reference to completing the U.S. Proof Type set. FWIW, I'm pretty sure that Tyrant has actually completed this set, excepting only the large-planchet capped bust half eagle ... a coin that DLH owns (1829 @ PR64 CAC) ... and the small planchet capped bust quarter eagle (both Tyrant & DLH are missing).
Bass/Simpson sales are featuring:
Large planchet half eagle ... 1825/4 @ PR62 (Tyrant needs)
Jesus H - it is going to cost a Billion dollars and I am not joking. I spent over a million and I don't have jack compared, heck that is a single coin. My lord. He has a bunch of my coins that I made - I hope when he is done he has a party where we all can come check it out.
@Currin said: The 2022 ANA Auctions – The James R. McGuigan Half Cent Collection (4 of 4)
Half Cents with Major Varieties, Proof (1831-1857)
There were several pronounced auctions in 2022 that produced multiply purchases by the DLRC team. Let’s recap a few of the bigger ones. Also, there were a couple private purchases including the Dr. Charles Link Half Dollars and the Wult Morgan Dollars. Here is a quick recap and the number of coins that I featured in 2022.
The Fairmont Collection-Hendricks Set by Heritage featuring eight coins.
Dr. Charles Link’s Early Half Dollars by private transaction with DLRC featuring eleven coins.
Wurt Collection of Morgan Dollars by private transaction with DLRC featuring four coins.
The 2022 ANA Auctions – Tom Bender Seated Liberty Dimes featuring two coins.
The 2022 ANA Auctions – The James R. McGuigan Half Cents featuring three coins (four including today).
The 2022 ANA Auctions – Tom Bender One Dollar Gold featuring two coins
The 2022 ANA Auctions – Georgia Gold Rush Collection of Dahlonega featuring five coins.
The 2022 ANA Auctions – Daryl J. Haynor’s Virginian Collection of Classic Gold featuring four coins.
The 2022 ANA Auctions – Heritage’s 2022 US Coins Signature Auction featuring four coins.
Historic Harry W. Bass Jr. Core Collection Part I - US Coins Signature Auction featuring eight coins.
Heritage 2022 Long Beach Expo US Coins Signature Auction featuring two coins.
Winter 2022 Auctions - The Harvey B. Jacobson, Jr. Collection / Stacks Bowers featuring three coins.
Winter 2022 Auctions – Fairmont Collection (CBL Set) / Stacks Bowers featuring two coins.
As stated, 2022 produced some great sales as collections were coming out that had been tucked away in some situations for decades. As for 2023, we don’t have a clue what more to see with the Fairmont Collection. Stacks Bowers is holding information close to their chest on that one. We do know there will be more to come from Bender and Bass Collections starting the January FUN show. Also, we know the Stewart Blay Lincolns will be auctioned by Great Collections in January. He has other great series, but no word if they will be auctioned in 2023 as well. There were collections that were unexpected offered in 2022, as with the Georgia Gold Rush Collection of Dahlonega and the Daryl J. Haynor’s Virginian Collection. Well, see more of this type of high-end coins available in 2023?
The most valuable 2022 Hansen purchase was the 1861 DCAM Double Eagle. The coin came from the “Important Selections from The Bob R. Simpson Collection, Part VII”. In the Heritage Auction, January 2022 FUN US Coins Signature Sale in Orlando, this PR66DCAM PCGS coin was headlined as: 1861 Double Eagle, PR66 Deep Cameo, One of the Rarest Dates in the Series, Only Five Examples Traced. The coin is also the finest and with a rich history as stated in the listing: The Bob Simpson example presented here is widely recognized as the sole finest extant. It can be traced back to the collection of another Fort Worth oilman, Amon G. Carter, Sr., where the Stack's cataloger called it "A choice example" of "One of the rarest of all double eagle Proofs... ." Ed Trompeter purchased the coin out of the Carter sale. Heritage Auctions purchased the entirety of that collection in 1998, selling off the individual coins privately of the course of a couple of years. This example found its way into the Franklinton Collection. It made its last public appearance as PR67 Ultra Cameo NGC in the August 2006 American Numismatic Rarities sale of that collection, where it was described as: An intensely beautiful gem Proof, a superb coin by any standards. Heavily frosted motifs, blemish free we might add, sit serenely against deep mirror fields, as though chiseled from living gold. An exquisite coin, and easily among the most beautiful gold coins ever seen by the present writer in nearly 20 years of numismatic cataloguing." It realized $1,800,000 with PCGS Value of $840,000 at the time of the sale. The current PCGS value is $2,150,000 with price history chart:
It is difficult for me to pick one coin in 2022 as adding the most significance to the collection. I tend to lean to coins that are not in the collection which I call expansion coins. I cannot say any one of these that I am mentioning today were more significant than the other because three completed sets and the half eagle is one coin closer. With all the purchases in 2022, the best four coins that come to my mind are:
1797 1/2C C-3c Gripped Edge, AG3BN. This coin is one of the nicer additions acquired in the James R. McGuigan Half Cent Collection / US Coins Signature Auction. The coin is now the lowest PCGS graded specimen in the Hansen’s 4560-piece US Mint Strike Issues (Core Sets). Before this purchase, it was the only coin missing coin in the 54-piece Hansen Collection of Half Cents with Major Varieties, Circulation Strikes (1793-1857). The all-time registry had three collections listed that are 100% completed High Desert, Missouri Cabinet, and Jim McGuigan. With this purchase, D.L. Hansen becomes the 4th completed collector in the registry.
1852 1/2C, Large Berries (Restrike), PR64+ BN. This coin can certainly be referred to as an ultra-rare Major Variety Proof from the James R. McGuigan Half Cent Collection / US Coins Signature Auction. This was the only proof coin missing the Hansen’s Entire EAC Collection of Proofs. The coin was once in another great collection that was assembled by Louis E. Eliasberg, Sr.
1798/7 $10 7X6 Stars, F15. This coin finally ended the hunt for the 1798/7 Capped Bust Right Eagle, Stars 7x6 specimen. 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.
1810 $5 Large Date, Small 5, AU53. Although this coin did not complete the five-dollar set, the significance of acquiring this specimen was of great achievement. Maybe the biggest is 2022. The coin from Historic Harry W. Bass Jr. Core Collection is finest of four confirmed examples. It did complete the Type 1, Capped Bust, Large Bust Half Eagles (1807 – 1812) subset. This is an eleven-coin subset of the Capped Bust Half Eagle set. The entire 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 317-piece entire circulating strike half eagle (1795 – 1929) gold collection. The Hansen Collection ends 2022 with three missing coins in the 317-piece half eagle gold set: 1798 Small Eagle, 1820 Curl Base 2, Small Letters, and the famous 1822.
All four of the coins were significance to reducing the missing coins in the 4560 specimens of US Mint Strike Issues to only 14. This set is slightly different than the Eliasberg quest which has 13 missing. A few coins overlap. It will be interesting to see how aggressive the Hansen Team will be in 2023 and if these numbers can be reduced even more. There will certainly be several once in a lifetime opportunities.
In retrospection, I believe the James R. McGuigan Half Cent Collection offered in US Coins Signature Auction was a little over shallowed by the other sales during the same time. This 1834 Half Cent, PR65 Red was certainly a coin worthy of a feature post which I missed. I will end 2022 with this POP 1/0, only known red specimen.
1834 Half Cent, PR65 Red, PCGS CAC, Ex: McGuigan
The Only Red Proof at PCGS
In a past Heritage Commentary: Walter Breen suggested a proof population of about 18 pieces in 1983, and Ron Manley concurred with that figure, based on a combined NGC and PCGS population of 19 pieces in January 1997. Today, more than 17 years later, the combined population has increased to 30 proofs. While some resubmissions are inevitable, the proof survival is likely closer to two dozen examples.
Whether survival is 30, two dozen, or 18, the fact of the matter, there is only one red in all grades for this proof. Heritage also wrote: The best examples of proof 1834 half cents are this piece that is graded PR65 Red PCGS and the Missouri Cabinet coin graded PR66 Red and Brown PCGS (High Desert Specimen). Five others are graded PR66 Brown or PR65 Red and Brown. Richard T. Coleman, Jr. identified the prior provenance of this example from an Al Overton mail bid auction dating to the late 1950s, the provenance presumably provided by William Weber. Dan Hamelberg provided the specific provenance information where the coin was described as Brilliant Red.
Heritage added: Colorado Springs, Colorado was the home of Albert Charles Overton who was born in Coos Bay, Oregon on May 1, 1906. He entered the coin business in 1940 and conducted more than 40 auctions from then until 1965, including the 1963 and 1965 American Numismatic Association convention sales. He was a past president of the Professional Numismatists Guild. Overton was the author of Early Half Dollar Die Varieties, 1794-1836. He received the ANA Medal of Merit in 1967. Overton died at Colorado Springs on February 11, 1972. Heirs of the Overton estate sold his half dollar reference collection to Sheridan Downey in 1993.
The Hansen Half Cent Proof set is second in ranking to The High Desert by a good amount. The HD set has a dozen PCGS POP 1/0 specimens compared to Hansen’s six. I would rank the 1834 specimen as the second-best coin in Hansen’s half cent proof set behind the previously mentioned 1852 1/2C, Large Berries (Restrike), PR64+ BN.
Provenance: Albert Charles Overton (9/1958), lot 169; William Weber (3/1982); US Coins Signature Auction, (Heritage, 8/2022), lot 3124, realized $96,000, D.L. Hansen Collection
1834 Half Cent, PR65 Red, PCGS CAC PCGS POP 1/0, Only Red Proof at PCGS Certification #30451311, PCGS #1203 PCGS Price Guide: $100,000 / Realized $96,000 Ex: James R. McGuigan Half Cent Collection
With last week's FUN show and this week, a series of sales for Heritage’s US Coins Signature Auctions starting tomorrow, the year is starting with a bang. There have already been four coins to top $1 million, and we are just starting 2023. I think this will be a banner year. I have been doing this thread for five years now. I have learned to stay on task and don’t get in back and forth with posters. There are other threads for that. Although, I do want to clarify a previous post.
Below is the paragraph in entirety as appears in original posting in October. My information (factual or not) is based on content provided by a Numismatic Expert. I consider Laura Sperber one of the best and she is very trustworthy. As with all forum posts, not just mine, some content is an opinion and the line between facts and opinions can be blurred. That is not the case here; it is clear. My commentary below I believe to be 100% factually based on an expert’s article.
Mercury Dimes (1916-1945)
The 80-piece Mercury Dime set is a no-win series for D.L. Hansen. In the early days of the collection, this was a series that Mr. Hansen had a desire to build a top set. To build a top set requires about a dozen sole finest specimens. Most of them are locked up in a collection that Laura Sperber, Legend Numismatics, is the agent. The Hansen entire 80-piece set is #2 followed by three famous retired sets: Gerald Forsythe, cmcnutt, and Joshua II Collection. The set is 100% complete with GPA weighted rating of 69.24. The set contains 91.25% PCGS Condition Census Top Five specimens. It has 47.50% finest PCGS certified coins with four-coin sole finest. The Hansen Collection has a second set that is 100% complete and is seventh in the all-time registry. Mr. Hansen has stated that reason he is building sets is because he enjoys it. I think the joy for Mercury Dimes left him for a while. After a year on silence in this series, we saw the first upgrade in July. Now, we have a second in August that will be featured today.
It should be clear that when I started the posting stating “80-piece Mercury Dime set is a no-win series for D.L. Hansen” that I am talking about this set only, period. I don’t have the time or the interest to research all the sets for Mercury Dimes or any minor varieties for that matter. If anyone want to make an augment that “it seems ALL Mercury Dime sets are a no-win for Hansen...not just the 80-coin set”, that seems fair, because I don’t study the ALL sets of anything, just Hansen Core Sets. Is that not fair enough? If I am discussing the National Football Conference and I say, “The Chicago Bears is worst team in NFC”, that is not “lying or... just providing false information due to ignorance”, because I did not say “They are the worst in the NFL”. Both statements are both true, but the first statement is more precise to the topic of the discussion of the NFC, but less broad the NFL as a whole. When I say “80-piece Mercury Dime set”, I am not sure how I can be more precise.
As for "The finest Mercury Dimes are under the control of the Laura Sperber, Legend Numismatics..." Really? Are you sure? Who is providing you with that information?
My whole statement reads: “The finest Mercury Dimes are under the control of the Laura Sperber, Legend Numismatics with most in one of her client’s collection that is called the Mad Hatter. She once stated that this collection had the #1 and #2 All-Time Finest sets in one collection”. The Mad Hatter is the owner's name for Merc Madness set. This is based on her article. So, who is providing the information? Laura Sperber.
She closes by saying “We look forward to working with him for many more years to come!”, so I take that he is her client, but could be wrong. If not, let’s give her or the owner she is speaking on behalf of the opportunity to clarify. She also states that she assisted with placing the #1 Gerald Forsythe with Merc Madness. She also states not only does he have the best top set, but also a second set. Sounds much like having control of the finest Mercury Dimes to me. If anyone want to dispute her writings, take it up with her. These are the words of the owner:
This set contains 70 TOP POP, 24 TOP POP #1, and 67 CAC endorsements. Total coins in set – 80
THE INDISPUTABLE FINEST MERCURY DIME CABINET.
SEPTEMBER 21st, 2022
Last time I checked, there are only about 30-35 PCGS POP 1/0 sole finest in the 80-piece set. My last count, his POP 1/0 was up to 25. “Having control of the finest”, not sure how anyone could argue he does not. Let’s read the Legend article in its entirety.
KABOOM! MERC MADNESS HAS STARTED!
We wish to congratulate the Merc Madness Collector on his achievement of eclipsing the long time #1 sets of Gerald Forsythe. Merc Madness now has the absolute #1 Mercury Dime PCGS sets in ALL Full band categories, and he is so proud he did not have to spend $348,000.00 on a coin to do so!
This accomplishment was made possible by our assisting Merc Madness at the ANA Show in buying Gerald Forsythes #1 set. What Jerry had, Merc Madness did not, and it was a perfect fit. The sale was for several million dollars. Now Merc Madness has the #1 ALL TIME SETS and he will also be #2 shortly as well too with his duplicates-too be listed under the name Jupiter Collection.
Merc Madness is a lifelong collector. Mercs have always been exclusively it for him. We have not been able to confirm the rumor he was born with a Merc in his mouth (vs a silver spoon)! He is a businessman who has finally been able to spend on the joys of his life. He certainly is not a billionaire and every coin he buys he really looks over hard. Mercs certainly rank at the top for him and in a short time he has done what many others could not.
Merc Madness is one of the top collectors we have ever met. His intensity only rivals our partner Bruce Morelan and RDS (our great friend and customer who has the #1 all time MS Barber Quarter set). He can answer ANY question about where ANY GEM Rare Merc is. He knows the mintage’s, the pops, whats out there and what is not. Its actually embarrasing to us that we do not know half as much as he does.
Last, Merc Madness is not done. He wants BOTH his #1 and #2 ranked sets to be 100% the best. he also ONLY accepts PCGS CAC (save for a coin or two). He gets it, he really does. You won’t be reading much more about him, he is also a private collector. He does actually look at his coins on weekends and has no ego whatsoever. We’re rolling this news out as a tribute to him-he did not seek it. We look forward to working with him for many more years to come!
End of article
In closing, I am not one to go back and forth with someone on the forum. My response is very unusual under unusual circumstances. The Hansen watch is one of my threads that I stated almost five years ago. There have been detractors from day one. I stated within days of starting the thread and will say it again. If what I write is not what you want to read, do not open my thread. If I have nothing to say that you want to hear, don’t open my thread. If you don’t think this thread has credibly, has merit or has value, don’t waste your time on opening my thread.
For all the other “watchers” on a positive note, soon we will be starting to see more new Hansen updates in a new year. For the many of you that enjoy the real-time documentation of this historic collection (by the way, that is the real intent), please continue with me in 2023. It has a potential to be a banner year. I know many are you looking forward to significant and important upcoming events in 2023, like the Bass Collection, Bender Collection, and others. Maybe we can put Mercury dimes to rest, at least for a while. I stated (referring to Mr. Hansen) that I think the joy for Mercury Dimes left him for a while. Now, me too.
PS, if you enjoyed my 2022 posts, give me a shout out. I enjoy dedicating my personal time for this endower. So, your support does mean a lot to me. Thanks and Happy New Year!
Historic Harry W. Bass Jr. Core Collection Part 2 - US Coins Signature Auction (9 of 13)
Four coins top $1 million each during Heritage Auctions event; proceeds will benefit Dallas-based nonprofits – Heritage Press Release - January 6, 2023
The auction was enormously successful by any metric: of the 103 offered lots, 30 established new records. The event was the second installment of the collection of Harry W. Bass; proceeds from the auction will benefit the dozens of Dallas-based nonprofits supported by the Harry W. Bass Jr. Foundation, with a particular emphasis on early childhood education and literacy in Dallas. Part I reached $20,459,645 Sept. 29. "Heritage Auctions delivered more than $24 million (Realized $24,322,741) in winning bids for the Bass Foundation tonight, and nearly $44.5 million over the first two parts of this extraordinary auction, and we know the foundation will put these proceeds to great use amongst the charities they support," Heritage Auctions Executive Vice President Todd Imhof said. "Our sale of Part II of the Bass Foundation's rare coins tonight delivered numerous world records and shows this bull market in the rare coin hobby continue." Steve Lansdale, Public Relations Specialist, Heritage Auctions.
Heritage Auction have done a great job with the sale of the Harry Bass Core Collection. As stated by the press release, The Bass Part 2 Sale offered 103 coins, with several rare opportunities. This could be the most significant Bass sale in the four-part dispersion of the Bass Core Collection. As example, this sale offered the 1870-S Three Dollar Gold for the first time in 40 years. Most likely, many of us will be long gone before it comes to market again.
In a closer look at the 66 US issue gold coins in the sale, I looked for any coins that would improve the Hansen Core Collection. In doing so, I identified 30 Bass coins that would either expand or upgrade the collection. There are three coins that would fill empty slots in the PCGS registry set(s). The first two are the 1798 Wide Date, Quarter Eagle and the 1820 Curl Base, Small Letters Half Eagle. The third is in a league of its own, the 1870-S Three Dollar. It appears the Hansen Team acquired first two of the three. I assume he was under bidder in 1870-S Three Dollar lot.
In addition to these two expansion coins, he was successful in acquiring one really nice upgrade to the collection. The coin replaced is a rarity that Mr. Hansen just acquired a few weeks ago. I know replacing the Jacobson F15 1798/7 7X6 Stars Eagle Specimen in a just a few weeks could be hard pill to swallow, but the coin is rare and this Bass offering for a MS62 specimen could not happen again for some time. This one upgrade moves the Hansen set to #1 ahead of the St. Jude Gold in the current registry and into #2 behind the Bass set for all-times for the Early $10 Gold with Major Varieties Set (1795-1804). The coin turned out to be one of the four coins to top $1 million mark. We will see more of this coin in a later posting.
The final two coins were a pair of Three Dollar Proofs. Both coins were currently not in the Hansen Collection. First, the missing 1869 PR65DCAM Three Dollar Proof was offered in the Bass Part II sale as well as another specimen being offered the Bender sale later this week. The Bender coin is a PR65CAM which could sell for a little less. As you will see later, the Bass specimen is a CC#2 and the Bender is a CC#4. The other proof coin that Hansen purchased was an interesting Civil War dated 1865 $3 Restrike Proof. Tom Bender set did not have one. The coin is needed in the PCGS Registry set. David Akers wrote: 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. This is a rare restrike of a rare date. Now, let’s take a detail look at the 1869, and save the 1865 $3 Restrike Proof for my next post.
1869 Three Dollar, PR65 DCAM Proof, CAC, Ex: Harry W. Bass, Jr.
Only 25 Proofs Struck, 10 Traced, Second on the Condition Census
Expert David Akers comment was simply: Proofs of this date are extremely rare, fully equal in rarity to the identical mintage 1867 or 1868. According to recent study by current experts, Heritage cataloger wrote: Only 25 examples of the 1869 three dollar were struck in proof format, with those coins delivered to the coiner on February 19. Of that mintage, John Dannreuther estimates that 12 to 14 pieces survive. However, Ron Guth of Numismatic Detective Agency, who provided the roster below, has only been able to trace 10 distinct representatives.
The Harry Bass 1869 Three-dollar Gold – HBCC #4022 is described on The Harry W. Bass, Jr. Foundation website as: This is another impressive Proof example that ranks among the finest known. In addition to 25 Proof examples, a small total of 2,500 circulation strikes were minted this year. Approximately 12 examples survive including those in the Smithsonian Institution and American Numismatic Society. All Proofs of this issue were struck from a single die pair, with circulation strikes from a different die pair. As with 1868, examples were also struck in aluminum, as well as in copper.
The PCGS POP reports ten grading events starting with one PR64 and one PR64CAM. The remaining eight coins are graded PR65 with two straight PR65 and four PR65 CAM, including the upcoming Bender specimen. This leave two coins that are finest certified PR65DCAM, including the Bass/Hansen CAC approved specimen. As for NGC, the population report has one PF64, one PF64CA, and one PF65UC. Strangely, the PR66★ Cameo NGC mentioned in Ron Guth’s roster does not appear any longer in the NGC report.
Roster of Proof 1869 Three Dollar Gold Pieces by Ron Guth of Numismatic Detective Agency.
1. PR66★ Cameo NGC. Elite Coin Auction (Superior, 7/2003), lot 581, $46,000; FUN Signature (Heritage, 1/2007), lot 3477, $69,000. 2. PR65 Deep Cameo PCGS. Abe Kosoff, sold privately on 7/23/1973; Harry W. Bass, Jr. Foundation Collection (HBCC# 4022). D.L. Hansen PCGS Registry Set 3. PR65 Deep Cameo PCGS.. Heathrow Collection (American Numismatic Rarities, 3/2006), lot 1517, $55,200; Pre-Long Beach (Goldberg Auctions, 2/2007), lot 2223, $74,750; Pre-Long Beach (Goldberg Auctions, 2/2009), lot 1415, $57,500; Pre-Long Beach (Goldberg Auctions, 9/2011), lot 1992, $52,900. 4. PR65 Cameo PCGS. Classics Sale (American Numismatic Rarities, 9/2003), lot 485, $50,600; Tom Bender PCGS Registry Set 5. PR65 PCGS. Orlando Sale (Stack's, 1/2007), lot 1226, $57,500. 6. PR65 PCGS. "Detroit" (Collection or location?), sold privately in 8/1894; John M. Clapp Collection; John H. Clapp Collection, sold intact via Stack's in 1942; Louis E. Eliasberg, Sr. Collection (Bowers and Ruddy, 10/1982), lot 294, $14,300; Ed Trompeter Collection (Superior, 2/1992), lot 111, $20,900; Americana Sale (Stack's, 1/2004), lot 3080, $43,125. 7. PR65 PCGS. Franklinton Collection, Part II (Stack's, 1/2008), lot 876, $63,250. 8. PR65 Cameo PCGS. Grant Pierce & Sons Collection (Stack's, 5/1965), lot 1256; Charles Jay Collection (Stack's, 10/1967), lot 281; FUN Signature (Heritage, 1/1998), lot 7714, $25,300. 9. PR64+ Deep Cameo Uncertified (grade per John Dannreuther). Acquired directly from the Mint on 3/6/1869 as part of a complete proof set of the year; National Numismatic Collection at the Smithsonian Institution. 10. PR64 Cameo PCGS. Hebbeard Collection (Harlan P. Smith / Bangs & Co., 4/1883), lot 381 (part of a complete 1869 gold proof set, gold dollar through double eagle); T. Harrison Garrett Collection; Robert Garrett Collection; John Work Garrett Collection; (Stack's, 3/1976), lot 431; Huberman Collection (Stack's Bowers, 4/2022), lot 3101, $57,600.
The Heritage cataloger described the coin as simply: The Harry W. Bass, Jr. Collection example is the second finest 1869 proof three dollar known. It exhibits spectacular Deep Cameo contrast with warm orange-gold color and thickly frosted relief elements surrounded by mirrorlike fields.
The Hansen Team took advantage of purchasing the best 1869 Three Proof offered in the 2023 FUN Auctions. As we continue the three-dollar discussion at least in the next post, and I feel sure we will see coins associated with this series several more months. We will watch along and see how the D.L. Hansen Collection of Three Dollar Gold will shape up in 2023. Due to not being successful in purchasing the 1870-S, Mr. Hansen will not be able to duplicate achievement of owning "The Complete $3 Gold Collection". The Bass Collection was described as Harry Bass acquired at least one example of each date and mint of $3 gold coin from 1854-1889, and for some, duplicates illustrating different finishes or varieties. The Core Collection consists of a complete run of proof coins from the first year of issue (1854) to the last (1889), plus circulation strikes of the branch mint issues.
Provenance: Abe Kosoff, sold privately on 7/23/1973 to Harry W. Bass, Jr.; The Harry W. Bass, Jr. Core Collection, Part II US Coins Signature Auction / Harry W. Bass, Jr. Foundation Collection HBCC# 4022, (Heritage 1/2023), lot 9015, realized $114,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1869 Three Dollar, PR65 DCAM Proof PCGS POP 2/0, CAC Approved (POP 1/0) Certification #46095410, PCGS #98032 PCGS Price Guide Unknown / Realized $114,000 Ex: Harry W. Bass, Jr.
One of the very few threads I have bookmarked and have read consistently, and have enjoyed for the whole five years. You do a great job @Currin methodically keeping us updated as this great collection continues to grow, and the independent research you do and present is always a must-read.
@Clackamas1 said:
Jesus H - it is going to cost a Billion dollars and I am not joking. I spent over a million and I don't have jack compared, heck that is a single coin. My lord. He has a bunch of my coins that I made - I hope when he is done he has a party where we all can come check it out.
It's great that a number of your coins are in the collection now! That's very impressive!
Historic Harry W. Bass Jr. Core Collection Part 2 (10 of 13)
Rare! That’s a word that describes the $3 gold series in proof. There’s the possibly unique 1855-S that is graded and authenticated by PCGS. There’s the extremely rare 1854, 1855, 1856, 1857 1858...the highest population of any of these coins is four, and that includes all proof grades! The $3 gold series in proof is rarely collected, due to the price. But what a set it is! Even the most common coin in the series (did we say “common?”) has a population of only 48 coins in Proof 65 or better. PCGS Registry of set of 39 coins.
The second three dollar proof coin purchased in the Harry W. Bass Jr. Core Collection Part 2 sale was the 1865 Restrike. The $3 Gold with Major Varieties and 1855-S, Proof (1854-1889) set expands the basic set by three proof coins from 36 coins to 39. The basic set requires one specimen of the 1873 proof. The date has two varieties and the major variety set requires a specimen of both. David Akers wrote: One variety of the 1873 Closed 3 three dollar gold piece is markedly "dished", that is, it has a convex obverse and a concave reverse. This variety is the so-called "dished restrike". However, Harry Bass claims that the dished pieces are, in fact, the true "originals'. I feel that these dished pieces are merely the proofs with the Closed 3, whereas the other Closed 3 pieces are all business strikes.
He continued with this on the other variety: This variety is generally considered to be the only original three dollar gold piece of 1873, but as I indicated in my comments on the 1873 Closed 3 business strike, I feel that this is in error. In his monograph, Walter Breen claims that the 1873 Open 3 in the ANS Collection must be an original since the ANS pieces were donated by J.P. Morgan, who obtained his coins from R. C. Brock, who had acquired them from the Philadelphia Mint in the year of issue. Actually, this would merely prove that the 1873 open 3 was minted in 1873, not necessarily that it was minted prior to the Closed 3 variety, or that the Closed 3 variety was minted after 1873. If this is the case, then technically speaking, there may be no restrikes of the 1873, since in the strictest sense a restrike is a coin that was minted in a year later than its date. It is indeed possible, and in fact it is my opinion, that all 1873 three dollar gold pieces were minted in 1873, and that all the Closed 3 pieces were minted first. Whatever the case, however, it is obvious from the auction data that the 1873 Open 3, three dollar gold piece is a great rarity. In fact, except for the unique 1870-S, it had the fewest number of auction appearances in our 238-catalogue survey of any coin in the series and has appeared at auction only one fourth as often as the highly publicized and high priced 1875. The 1873 $3 Closed 3 is rarer with survival estimate of about six.
Along with both specimens of the 1873, the other two additions for the Major Variety set are the unique 1855-S branch mint proof and 1865 Restrike Proof Three Dollar Gold Piece (JD-2) with only two known specimens. I was not certain that Mr. Hansen was interested in the expanded Three Dollar Proof set, especially the two ultra-rarities. From an interesting perspective, it does not appear the 1855-S branch mint proof and 1865 Restrike Proof have ever been in the same collection. By bringing them together and completing the 39-piece set could be a first and only time for this remarkable accomplishment. If anyone know for certain, please chime in.
With the purchase of the 1865 Restrike Proof and 1869 Proof, the Hansen Collection has only nine coins missing in the 39-coin set (seven missing in the 36-coin set). Dell Loy Hansen is the only active collector in the registry. He is #6 in the PCGS rankings with all other collections retired. The top all-time set is the recent retired set from the Harry W. Bass Jr. Core Collection that is currently in auction. The Bass set of 38 coins has an amazing GPA of 65.86 but missing one coin, the unique 1855-S branch proof. The second ranked set is from the Tom Bender Collection. This set reached 37 of the 39 coins before tapping out, missing the 1865 Restrike and one of the 1873 varieties, the Closed 3 specimen. The Bender set had superior quality with a GPA of 66.30. The PCGS registry describes the set as: The Bender set is both the #1 Current and All-Time Finest $3 Proof set in the PCGS Set Registry TM. According to Laura Sperber, who encouraged Bender to begin the collection in 2005 and helped him obtain most of the coins, "this is the first $3 Proof Gold set certified by PCGS in 25 years of operation. Even compared to famous early collections, this set still ranks as the finest." Mr. Bender's collection contains some of the legendary rarities in Proof gold coinage, such as the 1854, 1855, 1856, 1873 Open 3, 1875 and 1876 issues. He counts his 1856 $3 gold PR65+DC, the finest graded, as his favorite. "The Proof $3 gold is an undervalued series," he says. "This is due in part to the extreme rarity of the coins. For example, many of the dates only have populations of nine or 10. The 1855 and 1856 only have mintages of five each."
With the Bass Set setting on top of the all-time registry due to completeness and the Bender Set on top for finest (66.30 GPA), there are three additional sets rounding out the top five from the Garrett Collection, Louis Eliasberg, and Smithsonian National Numismatic Collection. With opportunities that are offered in the upcoming Bender and Bass sales, D.L. Hansen has a pathway to get in the discussion with these great sets. The choice to be aggressive in the bidding on the ultra-rare 1865 Restrike was a noteworthy decision in the Bass Part II sale. It will be interesting to see how aggressive the Hansen Team will be when the 1855-S branch mint proof hits the auction schedule. The unique 1855-S will demand much more in price with realizing $1,322,500 in a 2011 Heritage sale.
1865 Three Dollar Gold, Restrike, PR66CAM, CAC, Ex: Woodin / Boyd / Bass, Jr.
Rare JD-2 Restrike c. 1869 or 1870
There is not much information on this extreme rarity. GreySheet writes about 1865 Restrike $3 DCAM JD-2 Proof, “once mistakenly thought to be a pattern and formerly listed as Judd-440. (Heritage Auctions)”. The obverse is described as: The head of a Native American princess with a crown of feathers atop her head. The words UNITED STATES OF AMERICAN circle the periphery from 7 o'clock to 5 o'clock.. The reverse as: A traditional wreath of tobacco, corn, wheat and cotton frames the reverse with a large numeral 3 and DOLLARS centered. The date of the issue appears under the denomination and mint-mark (if any) appears centered under the wreath at 6 o'clock.
In the Harry W. Bass Jr. Core Collection Part 2 sale last week, the cataloger added: Once mistakenly thought to be a pattern and formerly listed as Judd-440, this enigmatic Mint restrike has intrigued collectors since the 1870s. The only two known specimens were believed to be included with the fabled 1865 With Motto sets first sold in 1870. Only two examples of the rare JD-2 die marriage are confirmed, and they are clearly restrikes, utilizing an obverse die that matches a three dollar obverse first seen in 1869, with die lines at LIB of LIBERTY and distinctive die polish lines at Liberty's neck. Filled letters at E of UNITED, the first S in STATES, and at the tops of the A's and R confirm the obverse die.
Harry Bass considered this coin important enough to have in his core collection of The Only Complete $3 Gold Collection. If this coin is required for a complete proof collection, the Hansen Collection has the finest specimen of the two known. The Heritage listing continues with: The 1865 restrike JR-2 proofs cannot be confused with the "original" 1865 JR-1 proofs, since the date is far left and angles upward at the right. Original 1865 proofs employ an obverse from 1864. John Dannreuther's 2018 reference, United States Proof Coins Volume IV, Part One, thoroughly discusses the restrike issue, and the present coin in particular. He notes: "The superb gem Restrike Proof in the Harry Bass Core Collection was described as a Restrike by Dr. J. Hewitt Judd. The Bass coin is from the Judd Collection that later became part of the fabulous gold pattern collection of John Wilkison, Sr. that was sold in 1973. William H. Woodin and F.C.C. Boyd previously owned this exact same rarity, which is the plate coin under Judd 440 in that pattern reference."
The Harry Bass 1865 Restrike, Three-dollar Gold – HBCC #4018 is described on The Harry W. Bass, Jr. Foundation website as: This superb gem Proof was described as a restrike by Dr. J. Hewitt Judd and is pedigreed to the Judd Collection, to the Wilkison Collection of pattern gold coinage and previously from the collections of William H. Woodin and F.C.C. Boyd. This is the plate coin in the Judd reference on pattern coinage for his catalogue number 440. More recently, Andrew W. Pollock, III considered this a regular issue and did not include the coin in his 1992 pattern reference.
Roster of 1865 Restrike Proof Three Dollar Gold Pieces (JD-2) – Heritage Auctions (1/2023)
1. PR65 Cameo PCGS. CAC. (See Provenance below) 2. Proof (Likely PCGS PR63 Deep Cameo). King Farouk; Farouk:324; ANA National Money Sale (Heritage, 3/11-12/1999), lot 5701, $14,950; Kagin's.
In closing, the Heritage cataloger references a gold expert: Dannreuther further notes the Woodin and Boyd connection to the Bass Core Collection coin is possibly uncertain, although he confirms each of those two individuals indeed owned an 1865 restrike proof. What is absolutely certain, though, is that Harry Bass had a special interest in this coin -- a pristine Gem proof, with frosted devices surrounded by watery-mirrored fields and exquisite honey-gold coloration. Bass described the strike as sharp, with "ghosting around the head" and the date "markedly canted up to right." The 186 is weaker than 5, with rough surfaces on the numerals 186. Heritage sold the other 1865 three dollar restrike proof (the former Farouk example) in 1999, an event soon to be eclipsed when this exceptional Harry Bass Core Collection coin is called.
The Harry W. Bass Jr. Core Collection Part 2 sale offered only two Three Dollar Proofs. Dell Loy Hansen and the DLRC Team was able to successful acquire both. I think this confirms the commitment to build a world class Three Dollar Collection. He is not done yet!
Provenance: William H. Woodin; F.C.C. Boyd; Dr. Hewitt Judd; Dr. John Wilkison, Sr.; Tennessee Coin Exchange as brokers for Dr. Wilkison; Julian Leidman and Michael Brownlee as part of the purchase of the gold patterns of Dr. Wilkison; sold as a collection to Paramount Coin Company; privately sold on August 3, 1979; Harry W. Bass, Jr.; The Harry W. Bass, Jr. Core Collection, Part II US Coins Signature Auction / Harry W. Bass, Jr. Foundation Collection HBCC# 4018, (Heritage 1/2023), lot 9014, realized $96,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1865 Three Dollar Gold, Restrike, PR66CAM PCGS POP 1/0, CAC Approved Certification #46094733, PCGS #45292 PCGS Price Guide Unknown / Realized $96,000 Ex: Woodin / Boyd / Bass, Jr.
Historic Harry W. Bass Jr. Core Collection Part 2 (11 of 13)
A 1798/7 BD-2 Eagle, MS62 was the fourth lot to reach seven figures when it ended at $1.11 million, surpassing the previous record of $705,000. It is the third-finest known example, and one of the two above it is housed in the Smithsonian Institution. - Heritage Auctions Press Release - January 6, 2023.
In a very unusual fashion, the D.L. Hansen Collection improved the core collection with just one upgrade coin purchased from the Historic Harry W. Bass Jr. Core Collection Part 2 sale. The upgrade was the only coin purchased by Hansen to reach seven figures. This coin improves the Early $10 Gold with Major Varieties, Circulation Strikes (1795-1804) set
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 Registry (2023).
Challenging enough! This is an understatement. The Hansen Collection has an amazing 1795 “9 Leaves”, MS63. The D.L. Hansen Team purchased the coin in August 2019 in the sale of The Anthony J. Taraszka Collection realizing $630,000. Today, PCGS Price Guide values the coin at $1,750,000! The upgrade of the 1798/7 7X6 Stars with the Bass specimen adds the second million dollar coin to this 14-pirce collection.
On November 21, 2022, less than two months ago, I wrote: Finally, the hunt for the 1798/7 Capped Bust Right Eagle, 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. He won the 1798/7 Capped Bust Right Eagle, Stars 7x6 specimen from the Jacobson Collection with a PCGS graded of F15. With the Core Collection that Dell Loy Hansen is building, this coin was not a great fit. For example, the Hansen’s 230-piece 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 1872-CC AU50 that is an Ex: Hall / Simpson. There is a lonely 1864-S XF45 and then comes the 1798/7 Capped Bust Right Eagle, Stars 7x6, PCGS F-15. The fifth coin is the ungraded 1933 that Mr. Hansen purchased in 2019 in The Poulos Family Sale. The coin is tied to the S. Hallock Dupont Collection. With The Harry Bass upgrade, the 1798/7 $10 7X6 Stars is replaced with an amazing MS62 specimen and leaves the 1864-S, XF45 and the 1933, N1 as the only eagles graded below AU50.
.#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, Replaced with Bass MS62, PCGS POP 2/1, realized $1,110,000
.#230) 1933, N1 PCGS, POP 2/11, Purchased in 2019 auction realized $300,000
I did not realized upgrading this one coin would elevate the Hansen set from #3 spot in the All-Time Ranking to the top, but that certainly is what happened. The Harry Bass Set is dropped to second spot with Jay Parrino’s St. Jude Gold as #3 ahead of the Smithsonian National Numismatic Collection set. Rounding out the top five all-time is the Schwenk set owned by one of our regular forum members.
This is an early gold set of eagles, so you may not would expected the score card to be comparable to Hansen’s overall standards, but it’s pretty darn good. Other than being All-Time number #1, these are the other key indicators in the Hansen 14-piece set:
1 Coin -- PCGS POP 1/0, Sole Finest, highlighting the amazing 1804 “Crosslet 4”, PCGS MS64.
3 Coins - PCGS Certified One Finer, highlighting new Bass 1798/7 “Stars 7X6”, PCGS MS62, POP 2/1.
3 Coins - PCGS Condition Census Top Five, highlighting the remarkable 1795 “9 Leaves” MS63, POP 2/2
With this upgrade, the early eagle set is 50% 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 1797 “Small Eagle”, AU53, PCGS POP 9/15. With two more Bass sales scheduled, this may not be the end of the upgrades for this set.
1798/7 Eagle, Stars 7x6, MS62, Ex: Harry W. Bass, Jr.
Elusive 7x6 Stars Variety, Tied for Third Finest Known
Expert David Akers wrote a few decades ago: 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 issue 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 separately in auction catalogs.)
PCGS CoinFacts gives the survival estimate to be 25 in all grades. Oddly enough, PCGS has not graded any specimens with grade of choice MS63 or better. The National Numismatic Collection at the Smithsonian Institution has a specimen with MS63 estimated grade. PCGS shows 12 grading events with three MS62 and one of the three has a plus. There are two MS61 which gives PCGS a total five MS. The finest NGC grade is a sole AU55. Up to this point, there have not been any MS graded coins that have a CAC Approved sticker.
In the January 2023 sale of The Harry W. Bass, Jr. Core Collection, Part II US Coins Signature Auction, the cataloger wrote: The 1798/7 BD-2 eagle that Mr. Bass included in his collection is tied for the third finest known, while the finest known is permanently in the National Numismatic Collection at the Smithsonian Institution. The second finest known is only marginally finer than the Bass coin. While the central details of this example are a trifle weak, the strike is nicely centered with full, even borders. Both sides exhibit brilliant yellow-gold surfaces with full luster and tinges of pale orange toning. Trivial, grade-consistent marks are evident in the fields. This is an exceptional piece that will make a nice addition to the advanced early gold collection.
1798/7 Ten Dollar, 7x6 Stars, BD-2, Taraszka-10, Breen 2-A (the only 7x6 Stars variety)
1. MS63 Uncertified. National Numismatic Collection at the Smithsonian Institution (grade per Jeff Garrett). 2. MS62+ PCGS. Illustrated at PCGS Coin Facts. Ex: William F. Gable Collection (S.H. Chapman, 5/1914), lot 207. Later provenance is unknown. 3. MS62 PCGS. "Colonel" E.H.R. Green Collection; King Farouk Collection (B. Max Mehl, 3/1948), lot 273, $1,050; Grant Pierce & Sons (Stack's, 5/1965), lot 1436; James and Margaret Carter Collection (Stack's, 1/1986), lot 179; Dr. Juan Suros Collection (Superior, 2/1999), lot 251, $189,750; Rarities Sale (Bowers and Merena, 1/2003), lot 709, $178,250; Baltimore ANA (Bowers and Merena, 7/2003), lot 4040, $276,000; FUN Signature (Heritage, 1/2004), lot 3057, $218,500. 4. MS62 PCGS. RARCOA, sold privately on 2/3/1975; Harry W. Bass, Jr. Foundation Collection (HBCC# 3181). D.L. Hansen Core Collection 5. MS61 PCGS. Harold P. Newlin Collection, sold privately on 10/31/1884; T. Harrison Garrett Collection; Robert Garrett Collection; John Work Garrett Collection (Bowers and Ruddy, 10/1980), lot 1660, $120,000; D. Brent Pogue Collection, Part II (Stack's Bowers & Sotheby's, 9/2015), lot 2097, $705,000. 6. MS60 Uncertified. National Numismatic Collection at the Smithsonian Institution (grade per Jeff Garrett). 7. AU58 PCGS. ANA Money Show (Superior, 3/2001), lot 858, not sold. 8. AU58 PCGS. David-Graves Collection (Stack's, 4/1954), lot 910; Norweb Collection, Part II (Bowers and Merena, 3/1988), lot 2138, $55,000; New Orleans Collection (Heritage, 4/2015), lot 5384, $329,000. 9. AU58 PCGS. "Rutherford" in 3/1897; John M. Clapp Collection; John H. Clapp Collection, sold intact via Stack's in 1942; Louis E. Eliasberg, Sr. Collection (Bowers and Ruddy, 10/1982), lot 650, $50,600; Stack's (1/1987), lot 705; Rarities Sale (Stack's Bowers, 8/2016), lot 3281, $352,500. 10. AU58 PCGS. "Colonel" E.H.R. Green Collection; Stack's, sold privately in 1945; James A. Stack, Sr. Collection (Stack's, 3/1995), lot 555, $73,700; Anthony J. Taraszka Collection (Stack's Bowers, 8/2019), lot 4015, $384,000; Tyrant Collection (Coin 10, displayed at the 2/2020 Long Beach Expo). 11. AU55 NGC. Byron Reed Collection (Spink America, 10/1996), lot 152; Long Beach Connoisseur (Bowers and Merena, 8/1999), lot 422; The Cincinnati Collection (FUN Signature, Heritage, 1/2005), lot 8820. 12. AU50 PCGS. Michael Keston Collection (Superior, 1/1996), lot 158; Richmond Collection (David Lawrence Rare Coins, 7/2004), lot 2006; Dr. James A. Ferrendelli Collection (Stack's Bowers, 8/2014), lot 11109. 13. AU50. Amon G. Carter, Jr. Family Collection (Stack's, 1/1984), lot 733. 14. AU. Wolfson Collection (Stack's, 10/1962), lot 622; Dallas Bank Collection (Sotheby's/Stack's, 10/2001), lot 380. 15. AU. Stack's (6/1993), lot 1348. 16. AU Damaged PCGS Genuine. Rare Coin Auction (Superior, 2/1973), lot 616; Bowers and Ruddy (2/1974), lot 774; Fairfield Collection (Bowers and Ruddy, 10/1977), lot 1788; Auction '90 (Superior, 8/1990), lot 1343; Bowers and Merena (5/1993), lot 677; Goldberg Auctions (6/2000), lot 1434; Heritage (8/2009), lot 1287; Heritage (1/2013), lot 5900. 17. Fine 15 PCGS. Bowers and Merena (11/1993), lot 1513; Stack's (8/2007), lot 3296; Harvey B. Jacobson Collection (Stack's Bowers, 11/2022), lot 4012. D.L. Hansen Collection - #2 Set
The Hansen Collection replaces the F15 specimen after being in the core collection for less than two months. We will know in time if the Harvey B. Jacobson F15 specimen remains in the collection or will be offered in a future sale.
Provenance: RARCOA, sold privately on 2/3/1975; Harry W. Bass, Jr. Foundation Collection (HBCC# 3181).; The Harry W. Bass, Jr. Core Collection, Part II US Coins Signature Auction / Harry W. Bass, Jr. Foundation Collection (Heritage 1/2023), lot 9061, realized $1,110,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1798/7 Eagle, Stars 7x6, MS62 PCGS POP 2/1 Certification #46092781, PCGS #45721 PCGS Price Guide $1,000,000 / Realized $1,110,000 Ex: Harry W. Bass, Jr.
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Historic Harry W. Bass Jr. Core Collection Part 2 (12 of 13)
D.L. Hansen Core Collection of Quarter Eagles
Finally, the hunt for the last quarter eagle is over. Harry W. Bass Jr. Core Collection Part 2 provided the coin that Mr. Hansen needed to complete Draped Bust (1796-1807) series which was the last coin missing in the 197-piece entire circulating strike quarter eagle core collection. The coin falls a little short (POP 2/7) of being a PCGS Top Five, but six and half years to reach that accomplishment, who’s complaining. For whatever the reason, this has been a tough coin to acquire. As we have seen before, better coins will now come out of the woodwork, maybe.
As you can see, the quarter eagle collection has 21 PCGS sole finest specimens with 14 specimens from the Liberty Head Set. Another 32 specimens are tied for finest that results in the complete 197-piece set being 26.9% PCGS finest. Maybe more importantly, the Hansen Collection of Eagles are slightly over 76% PCGS Top Five specimens. This is slightly off pace of the entire 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 improve with future upgrades.
If you have been following this real-time documentation of this historic collection, you will know that the DL Hansen Comprehensive Collection of US Coinage is a collection of registry sets. What I call the US Mint Strike Issues is the core of the collection consisting of 69 sets. At the start of this endeavor, I identified the missing coins needed to complete a collection similar to Louis Eliasberg achievement of a Complete US Collection. As Hansen sets grow over time, Mr. Hansen branched out into the Major Variety sets. Therefore, I created a second countdown list to track the missing major varieties. With the purchase of the 1798 quarter eagle, “Wide Date” variety, the missing count is down to nine coins.
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 nine 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 4
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 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)
Spoiler Alert. The last update for the Harry Bass Part 2 sale which will post soon is another count down coin on this list. Watch for the next update. It turned out of be almost a seven-figure coin.
1798 Quarter Eagle, “Wide Date”, MS60, Ex: Harry W. Bass, Jr.
Decades ago, Expert David Akers shared some light on this coin: There are two main varieties for this year. the first has a compact date and 4 berries on the reverse. The other major variety, significantly rarer, has a widely spaced date and 5 berries on the reverse. Both varieties of this year have a unique obverse star configuration; namely 6 stars to the left, and 7 to the right. No other date of this type has a similar arrangement. By far, the finest 1798 quarter eagle that I have seen was a gem owned a few years ago by Stack's.
In a more recent commentary, Gordon Wrubel wrote: There are only two die varieties of 1798 $2 1/2-dollar gold pieces. These are comprised of two distinct obverses and reverses: The Close Date with a 4 Berry reverse, Bass-Dannreuther, BD-1, and the Wide Date with a 5 Berry reverse, BD-2. While both varieties are rare, the Bass-Dannreuther research has shown that the former, BD-1, is about TWICE as rare as the latter, BD-2, in all grades including Mint State.
I think it would be a fair statement to say this has been a difficult coin for Dell Loy Hansen to obtain. From the standpoint of quantity and fineness, the coin is a little short on quality to be in the Bass or Hansen Collections. Although, the coin fills a need in the Hansen Core Collection, but it is inferior to about 80% of the coins in the collection. On the Harry W. Bass, Jr. Foundation website, there was no mention of quality and grade. The description read as: This is the second variety of 1798 quarter eagle coined, featuring a widely spaced date in comparison with the other variety, HBCC-3005, and five berries in the branch on the reverse. This reverse die was also used to produce certain varieties of dimes from the same era. Dimes and quarter eagles were closely similar in diameter-thus single reverse dies could, and did, serve double-duty. For many years, Walter Breen considered this to be the rarer of the two 1798 die varieties. Later research shows that this variety is actually slightly more common. Approximately 80 examples are known.
PCGS CoinFacts gives the survival estimate to be 50 in all grades, with nine that are mint state MS60 or above. PCGS shows 24 grading events with three MS61 and four MS62 which are finest. There are two MS60 specimens which one is the Bass/Hansen specimen. In auctions, there have not been a certified coin graded higher that MS62 in history. The most recent auction for a MS62 dates back to Stacks Bowers February 2016 Rarities sale. There was a reference in the sale that the finest certified MS-64, but it is not really clear if the coin is of this variety.
The Heritage cataloger described the coin as: This rich green-gold example exhibits reflective fields that frame the softly lustrous devices. Scattered marks on each side prevent a higher grade despite exceptional eye appeal at this numerical level. Most of the peripheral design elements are nicely defined while central strike weakness is evident on the obverse.
As with a couple Bass coins that has been purchased by the Hansen Team so far, I am certain that Mr. Hansen would prefer 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 for the Bass MS60 POP 2/7. If the opportunity is right, Mr. Hansen may desire to upgrade the coin at some point in the future. At the end of the day, the Hansen Collection can check off the 197-piece entire circulating strike quarter eagle core collection as being completed.
Provenance: (Stack's 2/1974), lot 496; Gibson and Groves Collections, (Stack's 11/1974), lot 490; Stack's (privately, 12/1974);Harry W. Bass, Jr. Foundation Collection (HBCC# 3006).; The Harry W. Bass, Jr. Core Collection, Part II US Coins Signature Auction / Harry W. Bass, Jr. Foundation Collection, (Heritage 1/2023), lot 9004, realized $84,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1798 Quarter Eagle, “Wide Date”, MS60 PCGS POP 2/7 Certification #46092646, PCGS #45505 PCGS Price Guide $140,000 / Realized $84,000 Ex: Harry W. Bass, Jr.
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I was able to purchase 3 more coins at the fun sale. The collection is now missing 2 coins. I am negotiating to buy a 1798/7 7x6 stars. I have yet to find an 1804 I like in my price range.
@gschwernk said:
I was able to purchase 3 more coins at the fun sale. The collection is now missing 2 coins. I am negotiating to buy a 1798/7 7x6 stars. I have yet to find an 1804 I like in my price range.
Thanks for sharing. Great set of early Eagles. As PCGS describes: you have a magnificent collection, indeed. I sure you know already, Heritage Auction is offering The Riverboat Collection of Early Eagles in the Long Beach Auction next month. The 1804 offered is a MS61 PCGS. The Ex: Norweb 1798/7 Eagle, BD-2, AU58 is going to be very pricey. They could complete your collection! Hope you can find the last two coins! Completing this set would be amazing.
Historic Harry W. Bass Jr. Core Collection Part 2 (13 of 13)
D.L. Hansen Core Collection of Quarter Eagles
This is the final update from Harry W. Bass Jr. Core Collection Part 2 sale. Let’s do a recap of the first two sales. The press release from the first sale: 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)
The Hansen Collection only added five coins from the Part 2 sale. They missed out on purchasing the unique 1870-S Three Dollar Gold, but the Hansen team still made some great purchases. The five coins range in price realized from $84,000 to $1,100,000. All five coins made significant improvements to the core collection. In Sale 2, Heritage press release: The auction was enormously successful by any metric: of the 103 offered lots, 30 established new records. The event was the second installment of the collection of Harry W. Bass; proceeds from the uction will benefit the dozens of Dallas-based nonprofits supported by the Harry W. Bass Jr. Foundation, with a particular emphasis on early childhood education and literacy in Dallas. Part I reached $20,459,645 Sept. 29. "Heritage Auctions delivered more than $24 million (Realized $24,322,741) in winning bids for the Bass Foundation tonight, and nearly $44.5 million over the first two parts of this extraordinary auction, and we know the foundation will put these proceeds to great use amongst the charities they support," Heritage Auctions Executive Vice President Todd Imhof said. "Our sale of Part II of the Bass Foundation's rare coins tonight delivered numerous world records and shows this bull market in the rare coin hobby continues."
In the first two sales, the combine coins offered was 208. Mr. Hansen and the DLRC team purchased 13 coins or 6.25%. The two sales have realized $44,782,286. The Hansen purchases have totaled $4,723,200 or 10.5%. The average Bass coin has realized $215,300. The average coin that the Hansen team purchased realized $363,323. As you can see, the Hansen purchases have been more on the high end of the coins offered. I will concluded today with one of those high end purchases. The last coin is number eight on the countdown.
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 eight 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 3
1842 Half Dollar "Small Date, Rev of 1839" (Survival est. 10 w/ 1 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)
The Bass sale is at the half way point. Will the next two sales top $20M each? We will have to wait and see. There are still some great coins to be offered and the Hansen Core Collection is still missing a few. Bass Part 3 is being held by Heritage’s US Coins Signature Auction in association with the CSNS show in May 2023. We will have to wait and watch to see what happens.
David Akers wrote: As a date, the 1820 is one of the more "common" dates of this type. However, it is much more rare than the 1813, and slightly more rare than the 1814/3 and 1818. The Curved Base 2 and Square Base 2 varieties of 1820 are of comparable rarity but when the Curved Base 2 variety is broken down to Small Letters and Large Letters varieties, each becomes more rare than the Square Base 2 variety which only comes with Large Letters on the reverse. The Large Letters and Small Letters varieties of the 1820 Curved Base 2 are of approximate equal rarity and actually none of the three varieties of 1820 is likely to realize a premium over the other two in similar condition. Most known specimens of the 1820 Curved Base 2, Small Letters are quite high grade, AU or Unc. being the grades typically available. The Small Letters variety is easily distinguishable from the Large Letters variety by examining the word STATES. On both the Small Letters variety all the letters are of equal height while on the Large Letters variety, both ot the T's appear larger than the other letters.
More recently, P. Scott Rubin added: The 1820 Curl Base 2, Small Letter Reverse Half Eagle is one of three varieties of 1820 Half Eagles and appears to be the rarest of the three. The other two are the 1820 Curl Base 2, Large Letter Reverse and the 1820 Square Base 2 Half Eagles. While the 1820 Square Base 2 is the most common of the varieties it has been estimated that both varieties of the 1820 Curl Base 2’s are of equal rarity. However in recent years -- at least during the 21st Century -- more of the 1820 Curl Base 2, Large Letter Reverses have appeared at auction than the 1820 Curl Base 2, Small Letter Reverse variety by more than two to one. In the February 2016 Sotheby’s/Stack’s-Bowers auction of the D. Brent Pogue auction part III, three 1820 Curl Base 2 Half eagles were offered, two were Large Letter Reverse examples and one was a Small Letter Reverse. Both Large Letter coins were graded MS-65+ by PCGS while the Small Letter coin was graded MS-66+ and the Small Letter coin realized $282,000 while each of the Large Letter 1820 coins brought $188,000 also the 1820 Square Base 2 Half Eagle graded MS-65+ by PCGS in the same sale realized $129,250.
PCGS CoinFacts gives the survival estimate to be 14 in all grades, with six that are mint state MS60 or above. PCGS shows only four current grading events with one MS62, one MS63, one MS64 and the sole finest PCGS graded Clapp/Eliasberg/Bass/Hansen MS64+ specimen.
The Heritage cataloger for the Bass sale described the coin as: In a word, this piece is exquisite. Both sides have mostly mirrored fields that show areas of mint frost behind Liberty's head and below the eagle's wings. Those areas of mint frost are virtually identical on the Pogue coin. There is also a minuscule area of mint frost above the upright of the D in the denomination on both coins. The surfaces are brilliant green-gold with a few trivial marks of no consequence, and the strike is full, suggesting that extra care was taken at the time this coin was struck just over 200 years ago. It is the quality that past catalogers might have called "Semi-proof." The present piece is the highest graded example of just four submissions of the Curl Base 2, Small Letters type that currently appears in the PCGS population report (11/22). The finer Pogue coin was graded MS66+ PCGS when it was offered in 2016, but that entry no longer shows in the PCGS data.
When the bidding stopped on the coin, Hansen took it home for $900,000. PCGS Price Guide at the time of the sale was $375,000. What is better way to place a bow on the Bass Part 2 sale than paying 240% for a Bass coin! This is not the end of this story. Keep an eye out because there are two sales yet to come.
Provenance: S.H. and H. Chapman (privately, 12/1893); John M. Clapp Collection; John H. Clapp Collection, sold intact via Stack's in 1942; Louis E. Eliasberg, Sr. Collection (Bowers and Ruddy, 10/1982), lot 376, $26,400; Harry W. Bass, Jr. Foundation Collection (HBCC# 3140); The Harry W. Bass, Jr. Core Collection, Part II US Coins Signature Auction / Harry W. Bass, Jr. Foundation Collection, (Heritage 1/2023), lot 9043, realized $900,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1820 Half Eagle, “Curl Base 2, Small Letters”,MS64+ PCGS POP 1/0, CAC Approved Certification #46092551, PCGS #519925 PCGS Price Guide $375,000 / Realized $900,000 Ex: Harry W. Bass, Jr.
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The 2023 FUN US Coins Signature Auction – Tom Bender Seated Liberty Dimes
Record 10 Lots Exceed $1 Million Each, Leading Heritage FUN Auctions Beyond $88 Million
In a Heritage press release, they describe the sale as: Coupled with the $12,079,520 from Heritage's FUN Currency Signature Auction, the combined total for the events climbed to $63,937,490. Add in The Bass Collection, Part II US Coins Signature® Auction - Orlando FUN that brought $24,322,741 Jan. 5 and Heritage Auctions has sold $88,260,231 in U.S. coins and currency in just the first two weeks of 2023. Although not the most expensive lot, perhaps more impressive was an 1870-S Seated Liberty Half Dime, MS64, (from The Bender Family Collection, Part II) which prompted more than six dozen bids before it closed at $3.12 million, smashing the previous record, set in 2005, of $661,250. This extraordinary coin is from the Bender Family Collection, and its existence was completely unknown for more than a century.
This post will start the updates for the 2023 FUN US Coins Signature Auction. This auction contained Bender Family Collection Part II including the rare 1870S Half Dime and a set of proof 3-dollar gold coins. The auction offered 1944 items totaled. There was a separate sale in an exclusive session for some highlights of Tom Bender coins. In this Bender Family feature sale of 117 lots, the coins offered were 40 Small cents, two half Dimes including the 1870-S, 53 dimes, and 22 three-dollar gold coins.
There were several headliner coins in the 2023 FUN US Coins Signature Auction. There are only three unique Basic US Mint Strike Issue specimens. They are the 1870-S Half Dime, 1870-S Three Dollar, and 1873-CC No Arrows Dime. Amazingly, all three were offered in January FUN Auctions, with the Bass 1870-S $3 and Bender 1870-S Half Dimes in their exclusive sales. The unique dime was in this FUN US Coins Signature Auction.
In an effort to take a quick break from Hansen’s parade of gold, I will sandwich this Bender dime update between the Bass Gold and the Bender Gold. The Tom Bender exclusive sale offered 53 dimes, including three early dimes, nine bust dimes and 41 seated liberty dimes. The Hansen team only purchased a handful of the Seated Liberties. It appear the dimes were not a focus for Mr. Hansen in this sale.
As everyone is certainly aware, the Bender Seated Liberty Dimes were world class. From this world class collection, there 41 seated dimes offered in the exclusive sale. Of those, I have identified 15 that could improve the Hansen Core Collection. The 1844 MS65 Bender coin that replaces a XF45 which would make a great upgrade. The entire group of 15 coins had a PCGS value of $338.250. There are no extremely expensive or great rarities in this sale, but there were two sole finest PCGS Pop 1/0 specimens. The Hansen Team was successful purchasing three coins, including the 1844 and one of the two PCGS POP 1/0 specimens.
I have chosen to feature the POP 1/0 specimen that the Hansen team picked up. It was not the most expensive seated dime purchased, but it did significantly improve the core collection.
1853-O Seated Liberty Dime, with Arrows, MS66, Ex: Carter / Gardner / Bender
Single Finest at PCGS
Our Ron Guth, a Numismatic Detective wrote: In 1853, both the Philadelphia and New Orleans Mints were busy cranking out millions of the new With Arrows Dimes to replace the old, heavier weight Dimes that were in circulation at the time. As a result, the mintage of the 1853-O Dime is nearly triple that of the previous year. Despite the increased mintage, the 1853-O Dime is a true rarity in Mint State, and it is, in fact, the rarest of the six With Arrows Dimes. Less than a dozen Mint State 1853-O Dimes exist, and few are nice. The best example is the PCGS MS66 from the Eugene Gardner Collection This colorful example is two points ahead of its nearest competitor. Researcher Gerry Fortin has identified eight different die varieties for this year. All of the varieties are of roughly the same rarity.
The new Hansen coin from the Tom Bender Collection is the specimen that Mr. Guth describes as the best example is the PCGS MS66. PCGS CoinFacts gives the survival estimate to be 300 in all grades, with 17 that are mint state MS60 or above. The Gardner/Bender/Hansen is the GEM in the report. PCGS shows nine grading events for Choice MS63. The numbers drop quickly after MS63, with only two MS64 and the finest MS66.
In October 2014 sale of the Eugene H. Gardner Collection II in Heritage’s US Coins Signature Auction in New York, the cataloger described the coins as: This satiny Gem displays fully brilliant luster beneath light champagne on both sides, within a frame of peripheral blue and iridescent toning. The strike is exceptional, especially for a New Orleans Mint product. Among the 10 Mint State 1853-O dimes that PCGS has certified is this MS65, the single finest example that they have examined. NGC records a single finer piece in MS66. The reduced weight of the subsidiary silver coins in 1853, denoted by arrowheads at the date, was intended to promote circulation. Apparently, it worked, as New Orleans minted 1.1 million of these dimes in 1853, and only 16 are recorded in Mint State grades by PCGS and NGC. NGC POP Report has the MS66 specimen listed, but it has never appeared in auction. So, it buried somewhere out there, if it exists. Is it the finest?
A past owner Eugene Gardner commented: A remarkable coin in a way sharper than its grade, but the grade is limited by a significant tick on Liberty's right thigh. Otherwise the strike is sharp, all stars show their radials, and the toning even and natural. The coin has to rank high in the Condition Census, if not at the top. In a final word given by the recent cataloger, PCGS Population for the 1853-O shows only a single piece graded finer than MS64: the present lot. Similarly, at NGC, one coin is certified finer than MS64, as MS66. Thus this Premium Gem is tied with the NGC piece for the honor of single finest certified. It benefits from medium golden-brown and lilac toning with deeper peripheral shades of sea-green, blue, and orange. The date and arrows are hubbed on this issue, yet the scarce Fortin-107 is easy to attribute. The drapery west of Liberty's pole is prominently lapped, and the mintmark tilts slightly left. Circular lathe lines (as made) are noted on the drapery near the chest and east of the shield. Clashed near the U in UNITED.
I hope you enjoyed this short break in gold. In my next post, we will start a series updates to what is described by PCGS in just one word: Rare!
Provenance: Jason Carter, sold privately in 11/2004; Eugene H. Gardner Collection, (Heritage 10/2014), lot 98254, realized $10,575, Tom Bender PCGS Registry Collection; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3368, realized $26,400; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1853-O Seated Liberty Dime, with Arrows, MS66 PCGS POP 1/0 Certification #25672455, PCGS #4604 PCGS Price Guide $26,400 / Realized $25,000 Ex: Carter / Gardner / Bender
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The 2023 FUN US Coins Signature Auction – Tom Bender Three Dollar Gold Proof (1 of 7)
The Tom Bender Collection of $3 Proof Gold
In a Heritage November 7, 2011 press release by BJ Searls, she writes: With the completion of his $3 Proof Gold Collection - literally the first complete certified $3 Gold Proof set ever assembled - Tom Bender has joined an exclusive group of collectors. The names Bass, Garrett, and Trompeter are legendary in American numismatics. These, and perhaps only a few others, are the collectors who assembled complete sets of Proof $3 coins. Very few collectors have classical era (1792-1964) proof gold coins among their holdings and even a single proof is highly prized. To complete the 1854-1889 $3 series in proof is a rare occurrence, to say the least. He counts his 1856 $3 gold PR65+DC, the finest graded, as his favorite. "The Proof $3 gold is an undervalued series," he says. "This is due in part to the extreme rarity of the coins. For example, many of the dates only have populations of nine or 10. The 1855 and 1856 only have mintages of five each." The Proof $3 Gold set had its origin at the Heritage Coin Auction at the 2005 FUN show. Legend Numismatics President Laura Sperber recommended that he buy an 1862 $3 gold piece in Proof 65 Deep Cameo, and the rest is history. The final coin, the 1865, came just recently in a private sale, and finally, Tom's $3 Proof Gold set was complete!
In this article published more than a decade ago, Mr. Bender said ”The Proof $3 gold is an undervalued series.” Now in 2023, that statement may not hold as true as it did in 2011. There are two great Three Dollar Gold Proof Collections being offered by Heritage and they are realizing record shattering results. In comparing the Three Dollars Proofs that Mr. Hansen purchased in the two January offerings, he certain received a bigger bang with the Bender proofs. I will dig a little deeper in the Bender proof purchases next posting. From what we are seeing in the 2023 FUN US Coins Signature Sales, Mr. Hansen has a full attention and focus on the Three Dollar Gold Proofs.
I am not sure why the registry set is showing one coin missing from the Bender set. The missing coin is the Bender 1883 Three Dollar Gold, PR67 Deep Cameo. It was lot #3414 in the FUN-Bender sale, and realized $198,000 as the PCGS POP 1/0 specimen. The coin was purchased by our Blue Devil friend and currently being used in his amazing U.S. Proof Type Set collection. It is puzzling why it was dropped from the Bender set. As you can see below, Mr. Bender was awarded the PCGS Hall of Fame for his Proof Three Dollars. In the 2011, PCGS wrote honoring the award: Another new set, taking away both a Gold Star award as well as a Hall of Fame win in its first year! And no wonder…. With a Set Rating of 66.27 and a completion rate of 100%, it’s a mind boggling assemblage of some of the rarest U.S. coins. Containing pieces from such collections as Bass, Garrett, and Trompeter and with no fewer than fifteen absolute finest knowns (pop 1, none higher) this set leaves even the most experienced numismatists speechless. In 2011, Tom added an 1855-S to his Major Variety Set, and so that set is included as a HOFer. Well done Tom! Even with the missing coin, the Bender set remains on top of the PCGS Registry.
There were 22 Three Dollar Proofs from The Bender Family Collection, Part II sale offered in the Heritage January 2023, FUN US Coins Signature Auction. The Hansen team wasted no time and successfully purchased the first lot offered, the 1854 Three Dollar, PR63 Cameo. This is the first coin required in the complete Three Dollar Gold Proof set and will be the first coin that I will feature from this sale.
1854 Three Dollar Gold, PR63CAM, Ex: Tom Bender Collection
Only 10 to 12 Pieces Extant, CAC Approval, Deeply Mirrored With Great Color
Our Numismatic Expert Ron Guth comment: In 1854, the Mint began striking a new gold coin denominated at three dollars. A letter in the Mint records at the National Archives, dated April 28, 1854, records the transmittal of fifteen "specimens" from Mint Director James Ross Snowden to the Secretary of the Treasury. Most researchers assume the fifteen "specimens" were Proofs, though there is no evidence to confirm that assumption except for the existence of an inordinately large number of Proof Three Dollar gold piece relative to the other gold denominations of the year. If the fifteen "specimens" were indeed Proofs, then the total mintage for the 1854 Three Dollar gold piece is at least eighteen, as an additional example resides in the National Numismatic Collection at the Smithsonian Institution and two more pieces appeared in the 1870 sale of Chief Engraver James Barton Longacre's estate. In 1975, David Akers knew of "perhaps 5 or 6" examples. In 1989, Breen listed six different examples from two die pairs, plus five other potential candidates.
So, what do we know today? PCGS CoinFacts gives the survival estimate to be eight in all grades with all PR60 or better (although PCGS has a grading event for a PR58 which is currently a Hansen duplicate), and only three specimens GEM PR65 or better. I am not sure where there are three estimated GEMs? There have only been only one GEM to sell in recent auction. In the September 2022 sale of the Historic Harry W. Bass Jr. Core Collection Part I at the US Coins Signature Auction held by Heritage at Long Beach, the Bass 1854 Three Dollar, PR65 Cameo was showcased as finest known. The National Numismatic Collection specimen at the Smithsonian Institution is grade PR63 Cameo per John Dannreuther. The Ohringer PCGS PR64+ Cameo, CAC specimen appeared in a 2013 sale showcased as one of the Three Finest Certified.
PCGS shows nine grading events with three non-cameo, three PR62 and one PR58 mentioned earlier. There are five cameo grading events, including two PR63 Cameo including the Bender/Hansen. According to the current PCGS POP report, there is only one PR64 Cam and One PR64+ Cam (mentioned earlier). The finest in the report is the Bass PR65 Cam. POP reports and grading events can be misleading and confusing. In the recent Bender sale, the cataloger tried to add some clarity.
The Heritage cataloger wrote: The three dollar gold denomination was introduced in 1854. Circulation strikes were manufactured to the extent of 138,618 coins, and 20 proofs are believed to have been struck for collectors. Both of those mintages were high for the period, making the 1854 a popular choice for type representation. That said, John Dannreuther (2018) estimates that only 10 to 12 examples survive in proof format. Although it has been suggested that two die pairs were used to strike the proofs, recent research indicates that a single die varieties exists, but in two different die states. Some coins are deeply mirrored with frosty devices, as here, while others have "shallow mirrors and only light frost," according to Dannreuther.
A Roster of Significant Examples Provided by Heritage Auction #1356, Lot #3396
1. PR65 Cameo PCGS. Abe Kosoff, sold privately on 8/3/1971; Harry W. Bass, Jr. Foundation Collection (HBCC# 4001); Harry W. Bass, Jr. Collection, Part I (Heritage, 9/2022), lot 11018, $312,000. 2. PR64+ Cameo PCGS. CAC. John Story Jenks Collection (Henry Chapman, 12/1921), lot 5782; John H. Clapp Collection, sold intact via Stack's in 1942; Eliasberg Collection (Bowers and Ruddy, 10/1982), lot 272, $39,600; Ed Trompeter Collection (Superior, 2/1992), lot 96, $44,000; Ohringer Family Trust Holdings, Part II (Goldberg Auctions, 9/2008), lot 1231, $149,500; FUN Signature (Heritage, 1/2012), lot 4815, $138,000; Baltimore Auction (Stack's Bowers, 6/2012), lot 4244, not sold; New York Signature (Heritage, 11/2013), lot 3837, $164,500. 3. PR64 Cameo PCGS. John Work Garrett Collection; Johns Hopkins University Collection, Part I (Bowers and Ruddy, 11/1979), lot 417, $45,000; Wayne S. Rich Collection (Bowers and Merena, 3/2002), lot 192, $73,600. 4. PR63 Cameo PCGS CAC. Tom Bender PCGS Registry Collection; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3396, realized $108,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection. 5. PR63 Cameo PCGS. Baltimore Auction (Bowers and Merena, 3/2005), lot 2279, $89,700. 6. PR63 Cameo PCGS. Chicago 1991 (RARCOA, 8/1991), lot 957, $17,600; Pre-Long Beach (Superior, 5/2003), lot 3628, $51,750; Dr. Robert J. Loewinger Collection (Heritage, 1/2007), lot 3121, $74,750; Pre-Long Beach (Goldberg Auctions, 2/2008), lot 2340, $97,750; Pre-Long Beach Sale (Goldberg Auctions, 9/2009), lot 3346, $66,125; FUN Signature (Heritage, 1/2010), lot 2144, not sold; Boston Signature (Heritage, 8/2010), lot 3461, not sold; Chicago ANA (Stack's Bowers, 8/2011), lot 7634, not sold; Philadelphia Signature (Heritage, 8/2012), lot 5329, $64,625; Summer FUN Signature (Heritage, 7/2013), lot 3340, $58,750; New York Signature (Heritage, 2/2014), lot 5351, $58,750. 7. PR63 Cameo. National Numismatic Collection at the Smithsonian Institution, grade per John Dannreuther. 8. PR62 PCGS. Rich Uhrich Collection (Stack's, 2/2008), lot 2125, $60,000; Kupersmith Once in a Lifetime Collection (Bowers and Merena, 11/2010), lot 4985, $38,614. 9. PR62 NGC. Grand Central (Paramount, 11/1967), lot 796; John Jay Pittman Collection, Part II (David Akers, 5/1998), lot 1886, $33,000; Heathrow Collection (American Numismatic Rarities, 3/2006), lot 1487, $64,400; Dallas Signature (Heritage, 11/2006), lot 2145, $57,500; Long Beach Signature (Heritage, 6/2007), lot 2308, not sold (Central States Signature (Heritage, 4/2021), lot 5110, $56,400. 10. PR61 NGC. FUN Signature (Heritage, 1/2015), lot 4264, $30,550; Chinook Collection (Heritage, 4/2019), lot 3851 (as NGC PR61 1853472001), $38,400.
The existing coin in the Hansen Collection is just off of this list which is a PR58 Cert #40964096 specimen that Mr. Hansen purchased in 2021. This is the only graded proof below PR61.
As mentioned, the finest coin is the Harry W. Bass, Jr. Foundation Collection (HBCC# 4001) specimen that was recent offered by Heritage in the Harry W. Bass, Jr. Collection, Part I sale on 9/2022. D.L. Hansen was the under bidder when the coin realized $312,000 or maybe he waited for the Bender specimen.
The new Hansen coin is described in the auction as: This is clearly one of the heavily frosted and deeply mirrored representatives. Orange-gold surfaces exhibit splashes of coppery color on each side. A few wispy, superficial hairlines are minor for the assigned grade. Eye appeal remains terrific.
Provenance: Tom Bender PCGS Registry Collection; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3396, realized $108,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1854 Three Dollar Gold, PR63CAM PCGS POP 2/3, CAC Approved Certification #25599492, PCGS #88017 PCGS Price Guide $100,000 / Realized $108,000 Ex: Tom Bender Collection
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The 2023 FUN US Coins Signature Auction – Tom Bender Three Dollar Gold Proof (2 of 7)
D.L. Hansen purchased seven Bender Three Dollar Proofs
The Hansen Collection picked up some great Three Dollar Gold Proofs in the Tom Bender Sale. The Showcase coin for the sale was the fabled only known example of 1870-S Seated Liberty Half Dime. The coin realized $3,120,000. After you get past this coin, there were ten other coins that broke the $100k barrier by realizing six figures, as follows:
As you can quickly see, nine of the 10 coins were Three Dollar Gold Proof. There were 22 Three Dollar Proofs from The Bender Family Collection, Part II sale offered in the Heritage January 2023, FUN US Coins Signature Auction. The Hansen Team was successfully in bidding and purchased the first lot offered, the 1854 Three Dollar, PR63 Cameo realizing $108,000. This is the first coin required in the complete Three Dollar Gold Proof set. They did not stop there, they purchased the second Bender Three Dollar Gold lot, 1856 $3 PR65+ Deep Cameo PCGS CAC Realized $408,000. Without bring the paddle down, they purchased the third lot, 1859 $3 PR65 Cameo PCGS CAC realizing $192,000. After the third lot, the Hansen bidder must have left to get a cup of coffee, because the next coin purchase was eight lots later when the successful bid was for an 1870 $3 PR65 Cameo PCGS realizing $216,000. The Hansen team won the next lot, 1872 $3 PR64 Cameo PCGS. CAC realizing $40,800. The lot broke the six-figure sting, ending at four in row. Then five lots later, the team got back into the game by winning the 1880 $3 PR65 Deep Cameo PCGS CAC realizing $84,000. Hansen finished up the sale with winning its fifth six-figure coin, 1881 $3 PR67 Cameo PCGS. CAC realizing $114,000. There were four more coins sold, but after the 1881, Hansen was done. The purchasing was as follows:
LOT #3396 - 1854 $3 PR63 Cameo PCGS Realized $108,000 (Replace PR58)
LOT #3397 - 1856 $3 PR65+ Deep Cameo PCGS CAC Realized $408,000 (Replace PR62CAM)
LOT #3398 - 1859 $3 PR65 Cameo PCGS. CAC Realized $192,000 (New Coin)
LOT #3406 - 1870 $3 PR65 Cameo PCGS Realized $216,000 (Replace PR61CAM)
LOT #3407 - 1872 $3 PR64 Cameo PCGS. CAC. Realized $216,000 (New Coin)
LOT #3412 - 1880 $3 PR65 Deep Cameo PCGS CAC Realized $84,000 (Replace PR64)
LOT #3413 - 1881 $3 PR67 Cameo PCGS. CAC Realized $114,000 (Replace PR62)
As you as see, the Hansen Team had a seven-run inning with the Bender Sale. All seven coins are significant improvements to the core collection. If you were tallying the purchases as you read through, you would know the total spent on the seven Three Dollar Proofs was $1,162,800. As a footnote, 35% of the money spent was on one coin, 1856 $3 PR65+ Deep Cameo PCGS CAC. The sole finest 1856 was known as Tom Bender’s favorite in the collection. I will feature the coin today.
1856 Three Dollar Gold, PR65+ DCAM, Ex: Garrett / Tom Bender Collection
Single Finest Example Known
Expert David Akers comments on coin: A few proofs are known, perhaps as many as five or six. Harry Bass was the first to point out that the word DOLLARS on the reverse of the 1856 proofs is over a small DOLLARS, indicating that possibly a dateless die from 1854 was used to mint the proofs of 1856. The small letters of the original word DOLLARS are clearly visible under the large letters.
PCGS CoinFacts gives the survival estimate to be only five with two GEM PR65 or better. PCGS shows five grading events with lowest grade PR62 and PR64. There is only one CAM coin, the Fenn/Hansen PR62CAM. Lastly, there are two DCAM PCGS events, Harry Bass PR64+ DCAM and the sole finest Bender/Hansen PR65+DACAM. NGC have two grading events. The first is a PF62 and the other is a PF65CA. This would give a PCGS/NGC total event as seven which leads me to believe one of two may be duplicate.
The Heritage cataloger wrote: Offered here is the single finest 1856 three dollar proof known. It is one of an estimated six examples minted, of which five or perhaps all six survive. John Dannreuther writes in United States Proof Coins, Volume IV: Gold, Part I: "Although slightly more available than the 1855 Proof issue, the 1856 Proof is rarer than the 1854 issue." This particular representative can be traced back to the famed 19th century collector T. Harrison Garrett. This is only its first public appearance since 1990 and its fifth since 1888. The following roster is the courtesy of John Dannreuther appearing in Heritage Auctions #1356, Lot #3396.
Roster of Significant Examples Courtesy of John Dannreuther (HA #1356, Lot #3396)
1. PR65+ Deep Cameo PCGS. CAC. T. Harrison Garrett; Robert Garrett (1888); John Work Garrett (1919); Garrett Collection -- Johns Hopkins University Collection (Stack's, 3/1976), lot 394, realized $21,000; Connoisseur's Collection (Superior Galleries, 1/1989), lot 338, realized $39,600; Jascha Heifetz Collection (Superior Galleries, 10/1989), lot 4242, realized $49,500; Boys Town Sale (Superior Galleries, 5/1990), lot 5506, realized $68,750; Tom Bender PCGS Registry Collection; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3397, realized $408,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection. 2. PR64+ Deep Cameo. CAC. F.C.C. Boyd; World's Greatest Collection (Numismatic Gallery, 1/1946), lot 271; Abe Kosoff (8/3/1971); Harry W. Bass, Jr. Foundation Collection (HBCC #4006). 3. PR62 Cameo PCGS. CAC. Ed Trompeter Collection, Part I (Superior Galleries, 2/1992), lot 98, $14,850; ANA National Money Show Signature (Heritage, 3/2011), lot 4729, $28,750; ANA Sale (Stack's, 8/2012), lot 11671, $32,200; Fenn Family Collection, Part III / FUN Signature (Heritage, 1/2017), lot 5832, $41,152; Dell Loy Hansen Collection (Duplicate). 4. PR62 NGC. ANA Signature (Heritage, 8/2017), lot 4117. 5. Proof, Grade Unknown. Auction '81 (RARCOA, 7/1981), lot 391, $20,500; Dennis With (possibly the PR62 Cameo PCGS). 6. PR58. Adolphe Menjou Collection (Numismatic Gallery, 6/1950), lot 1374, $40; John Jay Pittman; Pittman Collection, Part II (David Akers, 5/1998), lot 1890, $16,500; MONEX (Steve Contursi and Todd Griffiths).
With this CC#1 purchase, Dell Loy Hansen has two of the top three 1856 Three Dollar Proofs according to John Dannreuther’s Roster of Significant Examples. The PR62CAM Cert #21882517 specimen was purchased in 2017 from Numismatic Financial Corporation. I cannot see the possibility of Mr. Hansen starting a second set of Three Dollar Gold Proofs, although anything is possible. I would not be surprised to see the PR62CAM offered for sale at some point.
This Bender/Hansen coin pretty much speaks for itself, but I will close by providing a commentary from the recent Heritage cataloger: Each side features profound Deep Cameo contrast between beautifully reflective fields and razor-sharp motifs blanketed in a thick layer of mint frost. Orange-gold color dominates surfaces that show a few areas of planchet roughness and a handful of natural alloy spots.
Provenance: See #1 above
1856 Three Dollar Gold, PR65+ DCAM PCGS POP 1/0, CAC Approved Certification #25599494, PCGS #98019 PCGS Price Guide $190,000 / Realized $408,000 Ex: Garrett / Tom Bender Collection
The 2023 FUN US Coins Signature Auction – Tom Bender Three Dollar Gold Proof (3 of 7)
The year 1859 was the first for which proof gold coins were available to the general public from the Mint - Heritage Cataloger (1/2023)
The year 1859 was marked by significant political turmoil, a booming gold and silver rush, and the looming threat of the American Civil War. It was also the year abolitionist John Brown led a raid on the federal armory at Harpers Ferry, an event that would have significant implications for the future of the United States. This 1859 Proof Gold Coin set reflects an era in American history, as these rare and valuable coins are a testament to this period's historical significance and value. (GlobeNewswire, Hard Asset Management, Inc., Dec 16, 2022)
Ron Guth wrote for CoinFacts: In 1859, collectors in the general public embraced their ability to purchase coins directly from the U.S. Mint. In so doing, they hit every denomination hard, ordering a then-record number of Proof coins of all denominations...even Proof gold. If so, where are they today?
In a past Stacks Bower’s sale for an 1859 quarter eagle, the cataloger wrote: The 1859 is the first Proof Liberty quarter eagle for which the mintage was recorded by Mint personnel. It is also the highest mintage Proof quarter eagle produced up until that time (more on the relevance of this mintage figure below). Both these facts are the result of Mint Director James Ross Snowden's decision to begin marketing Proof sets to the general public on a large scale, a plan put into practice beginning in 1858 (for non-gold coins). The late 1850s saw the first major boom in coin collecting in the United States, and Snowden's efforts were undoubtedly intended to capitalize on that upswing in the hobby. In anticipation of records sales for the era, the Mint struck 80 Proofs of each of the gold denominations current in 1859, from the gold dollar through the double eagle. Such expectations proved wildly optimistic, however, and numismatic scholars agree that only a small percentage of these coins were actually distributed to contemporary collectors. The balance of the mintages was either destroyed through melting or (more likely) released into circulation.
PCGS describes the date set as: The seven piece copper and silver Proof Set for 1859 was the first widely available set, with production of most issues reaching 800, more than double the previous year. It is the last year that the Stars obverse Half Dimes and Dimes were made, and the only year of the "No Shield" Indian cent. The four gold coins this year show a mintage of 80 pieces each, but their limited availability and consequent value suggest that either only a portion were sold, or the reported figure is too high. Regardless, perhaps 8 to 12 of each are known today, with some permanently impounded in institutions. Completing this set will require both money, and patience. The Hansen Core Collection has a complete seven-piece copper and silver Proof Set. What about the gold you may ask?
The complete 1859 Proof Gold Registry Set requires six pieces (seven if you count both varieties of the 1859 Quarter Eagle Proof). Currently, the Hansen core collection has the One Dollar Gold, both Quarter Eagle varieties, and now adds the Three Dollar Gold. There are three missing pieces:
1859 Liberty Head Half Eagle Proof.
With a mintage of 80, CoinFacts estimates 8 to 10 known. Other than the Eliasberg/Trompeter specimen, the last auction appearance was March 2013 for the Morton & Eden Ltd Auction of The Royal Mint Museum. The coin was the finest PCGS certified PR65+CAM specimen (Cert # 17250129). Whereabouts unknown. The Harry Bass specimen sold in auction in November 2000. The Farouk/Norweb specimen sold October 1987. The Louis E. Eliasberg, Sr. Specimen sold October 1982. The Eliasberg specimen made its way into the Ed Trompeter Collection, and Heritage Auctions sold in August 2015. Why such few auction appearances? Maybe Ron Guth can shed some light: Approximately a dozen Proof 1859 Half Eagles are known, suggesting that the reported mintage of 80 examples is far to high (it might be appropriate for silver coins, but certainly not for the gold). Most of the known survivors are Cameo or Deep Cameo; it may be that no non-Cameos exist. Three of the known examples are locked up in institutional collections, including those of the Smithsonian, the American Numismatic Society, and the Royal Mint (London) Collection. The record price for this issue was set in 2015 with the sale of the Eliasberg-Trompeter for $164,500. PCGS records four grading events. One PR58 and three CAM specimens, including PR63CAM, and two GEMS (PR65CAM and a PR65+CAM)
1859 Liberty Head Eagle Proof.
CoinFacts estimates 6 to 9 known out of a mintage of 80. The last auction appearance was March 2013 for the Morton & Eden Ltd Auction of The Royal Mint Museum. The coin was the second finest PCGS certified PCGS PR65CAM specimen (Cert # 17250127). During or after the 2013 sale, the coin found its way into the Eagles of the Tyrant Collection. The coin described on owner’s website as: A towering gem that offers not only gem quality surfaces but also the desirable Cameo contrast! The coin holds the public auction record by realizing $257,341.81 in 2013. The Louis E. Eliasberg, Sr. Specimen sold October 1982. The PCGS Auction data provides only theses three events for the past 40 years. This results in one appearance every 13 years. With the last event 2013, we should see one in the next two to three years. David Akers wrote: Proofs are very rare but less so than preceding dates. As many as nine or ten proofs may exist including two virtually perfect specimens, previously unreported, that are in the Royal London Mint's Collection. PCGS records four grading events, one PR64 and two CAM specimens, including PR64CAM, and the Tyrant GEM PR65CAM. The finest known is the PR65DCAM. If anyone know the whereabouts for the PR65DCAM, please let know. If you want keep private, PM me.
1859 Liberty Head Double Eagle Proof.
CoinFacts estimates five known out of a mintage of 50. PCGS Auction data provides nine events in the past forty years with the last appearance was March 2013 for a NGC PR63 Cameo specimen in a Heritage Sale. The famously pedigreed, George Seavey, Parmelee, Boyd, Menjou, Wolfson specimen realized $223,250. If a specimen hit the market today, I think that record would be shattered quickly. The last PCGS specimen appeared in a Bonham's Auction in June 2014. David Akers wrote: A few proofs of this date are known, perhaps as many as seven or eight. The Royal London Mint's collection contains two 1859 proofs of each of the U.S. gold denominations from $1 to $10. It is probable that at one time the Double Eagles were also in the collection but they are not there now. In closing, 80 Proofs are believed to have been struck. If this is accurate, most were melted. Proof 1859 double eagles are extremely rare, and at least one of the examples known is impaired. Two others are impounded in museum collections. As of the end of 2020, PCGS has graded 1 in PR62 DCAM, 1 in PR62+, 1 in PR63 CAM, and 1 in PR64+DCAM for a total of 4. NGC has 2 in PR63 Cameo, and 1 in PR63 Ultra Cameo, for a total of 3. (www.DoubleEagleBook.com)
It will be interesting to watch to see if the Hansen Collection can complete the 1859 proof set in the near future. There is only one set in the PCGS Registry from the J.J. Pittman Collection. For now, let’s take a look at the new 1859 Three Dollar Gold, PR65CAM added to the collection.
1859 Three Dollar Gold, PR65CAM, Ex: Kosoff / Bass / Bender
Rare JD-2 Die Pair, Three to Five Known
Expert David Akers wrote a few decades ago: Proofs are very rare with no more than ten to twelve pieces known. One previously unaccounted for proof is in the collection of the Royal London Mint. PCGS CoinFacts gives the survival estimate to be 10 in all grades with five graded GEM PR65 or better.
The Heritage cataloger wrote: The year 1859 was the first for which proof gold coins were available to the general public from the Mint. A December 17, 1859 letter from Melter and Refiner James Curtis Booth to Mint Director James Ross Snowden explained: "There is a growing taste for collecting coins, evidenced by the demand this year for 800 sets of silver Master-Coins & 80 sets of the gold & by the demand for specimens of our past coinage whether gold, silver, or copper. The desire for collecting coins, is attended by an indirect improvement in the public taste for the Finest Arts, & by the development of veneration for the past, without being necessarily accompanied by objectionable features."
Heritage explained the differences is the varieties: The 80 three dollar gold proofs struck in 1859 were manufactured from two different sets of dies. They are distinguished by a couple of obverse die lumps, one southwest of Liberty's ear (JD-1) and one left of the L in LIBERTY (JD-2). John Dannreuther suggests that at least some of the original mintage was melted or placed into circulation, leaving 10 to 12 examples of JD-1 extant plus three to five JD-2 representatives.
Revised Roster of 1859 Proof Three Dollar Gold Pieces (2011 HA #1154, Lot #5363)
1. PR67 Cameo NGC. Recorded in the NGC Census Report. Nothing else is known. 2. PR66+ Deep Cameo PCGS. Massachusetts Historical Society Sale (Stack's, 10/1970), lot 782; Harry W. Bass, Jr.; Bass Core Collection (Heritage 5/2023) 3. PR66 Cameo NGC. Jewett Collection (S.H. Chapman, 6/1909), lot 909; John H. Clapp; Clapp Estate (1942); Louis E. Eliasberg, Sr.; Eliasberg Estate (Bowers and Ruddy, 10/1982), lot 283; Ed Trompeter Collection (Superior, 2/1992), lot 101; American Numismatic Rarities (3/2004), lot 1377; Bowers and Merena (2/2007), lot 701; "Kupersmith Once in a Lifetime Collection" (Bowers and Merena, 11/2010), lot 5003. 4. PR66 Cameo NGC. Heritage (3/2006), lot 1832, $57,500. 5. PR65 Ultra Cameo NGC. F.C.C. Boyd (World's Greatest Collection, Numismatic Gallery, 1/1946), lot 274; Memorable Collection (Numismatic Gallery, 3/1948), lot 245; Harold S. Bareford Collection (Stack's, 12/1978), lot 128; Auction '79 (Paramount, 7/1979), lot 265; Auction '81 (RARCOA, 7/1981), lot 398; A Connoisseur's Collection (Superior, 1/1989), lot 111; Goldberg Coins (5/2007), lot 1542; Goldberg Coins (2/2009), lot 1411. 6. PR65 Ultra Cameo NGC. Bowers and Merena (7/2005), lot 2532; Heritage (6/2010), lot 1598; Heritage (9/2010), lot 20543 7. PR65 Cameo PCGS. Purchased from Abe Kosoff (8/1973); Harry W. Bass, Jr.; Bass Collection, Part III (Bowers and Merena, 5/2000), lot 274, realized $29,900; Larry Jackson, Tom Bender PCGS Registry Collection; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3398, realized $192,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection. 8. PR65 PCGS. Wolfson Collection (Stack's, 1962), lot 283; Grant Pierce Collection (Stack's, 1965), lot 1245; Charles Jay Collection (Stack's, 10/1967), lot 277; Ullmer Collection (Stack's, 5/1974), lot 412; Buddy Ebsen Sale (Superior, 5/1987), lot 2399. 9. Choice Proof. John Zug (5/20/1949); John Jay Pittman (David Akers, 10/1997), lot 834. Offered as part of an assembled 1859 proof set in the Pittman sale. 10. PR64. Garrett Collection; Johns Hopkins University (Stack's, 3/1976), lot 397. 11. Proof. GENA Convention (Pine Tree, 9/1974), lot 1868. 12. PR62. Stack's (10/1995), lot 1521. 13. PR61 Cameo NGC. Heritage (11/2003), lot 7435, $8,625. 14. PR58. Bowers and Merena (8/2000), lot 2185.
Museum Specimens 15. PR62 Cameo. U.S. Mint; National Numismatic Collection; Smithsonian Institution. 16. Proof. Brock; J.P. Morgan; ANS. 17. Proof. Royal London Mint (per David Akers).
The new Hansen coin probably falls somewhere between CC#5 and CC#7. The coin is described in the auction as: This Gem Cameo offering last appeared at public auction as part of the Harry W. Bass, Jr. Collection, Part III, where it was described as "A lovely cameo Proof with frosted bright yellow devices surrounded by reflective gold fields." Orange and reddish-gold surfaces exhibit occasional lilac accents.
Provenance: See #7 Above
1859 Three Dollar Gold, PR65CAM PCGS POP 2/2, CAC Approved Certification #25599496, PCGS #88022 PCGS Price Guide $80,000 / Realized $192,000 Ex: Kosoff / Bass / Bender
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The 2023 FUN US Coins Signature Auction – Tom Bender Three Dollar Gold Proof (4 of 7)
What is CAC Coin Grading?
Blanchard Gold calls CAC Coin Grading the “Ultimate Seal of Quality”. On their website, they explain their view of… What is CAC Coin Grading? They describe it as: In every field, a select few represent the very best of the best. Rare coins are no exception, and Certified Acceptance Corporation (CAC) makes it easy to spot them at a glance. You’re probably familiar with coin grading. The higher the better. One MS-64 Saint-Gaudens double eagle equals another, right? Well, not quite. Within each grade of coin, there’s actually variation. Some MS-64s are better than others. Why? Think of it like grades in school. Anything between a 93 and a 97 is an “A.” But a 97 is definitely better than a 93. And the same goes for coins. When you invest in an NGC or PCGS-graded coin, you could be getting a “93” or a “97,” and there’s a real difference between the two. Short of buying a loupe and investing years in becoming a coin grading expert, how are you supposed to tell the difference? That’s where CAC coin grading comes in. The CAC was founded in 2007 by renowned numismatist John Albanese (who himself founded NGC and PCGS). CAC coins are PCGS or NGC coins that have been evaluated against an extremely high quality criteria for a specific grade. If these coins meet CAC’s standards, which are based on the standards of today’s selective and informed buyer, they receive a green CAC sticker. And that green CAC sticker equals much higher premiums on a coin. For example, in January, one MS-61 1805 $2½ gold coin sold for $23,325. Another MS-61 1805 $2½ gold coin sold for $33,600. That’s $10,275 more for the exact same coin of the exact same grade. Imagine being the owner who sold the $33K coin. You’d be feeling pretty good about your investment right about now!
I had reported in an earlier post that in the Bender Family Collection, Part II sale, the offering were 22 Three Dollar Proof Gold lots. Unbelievable, all 22 were CAC Approved. I believe giving credit when credit is due. It seems this insane high percentage of CAC Three Dollars Proofs should be credited to Laura Sperber serving as agent for this collection. She was an early and continued to be a very strong supporter of the CAC concept for valuing coins to buy and even for future sale values. Go back and review the 1/12/2023 post for a more discussion of Ms. Sperber involvement. At first glance, I thought Mr. Hansen and team were targeting CAC coins, but after a more detail review, that was not the case. All the Bender coins were CAC approved.
The seven coins that Mr. Hansen purchased came with PCGS Price Guide Value $700,000. The seven CAC Approved lots realized $1,162,800. The lots realized 166% of the price guide. How much of that premium is associated with the CAC sticker? I doubt all 66% of the premium is correct, but I do think you have to contribute some of the results to being CAC.
We are about halfway through the Bender Three Dollar Proof updates. What we have seen so far has been amazing. This coin that we see today have a PCGS Price Guide value of $65,000. The coin realized an insane amount of $216,000. Ms. Sperber would call this “Moon Money”.
1870 Three Dollar Gold, PR65CAM, Ex: Miller / Bender
Registry-Grade Specimen, Only 35 Examples Struck
Expert David Akers commented: This is another date of which deceptive first strikes exist that can be difficult to distinguish from proofs that have handling marks or light rubbing. However, on the business strikes that I have seen, the small leaf to the left of the date appears as just a tiny detached wisp, whereas on the proofs, the leaf is full. The difference in this leaf is pronounced enough that one can usually distinguish business strikes from proofs even from relatively poor quality photos. Also, the date on proofs is lower in the field than it is on the business strikes, the seven being just barely above the right ribbon of the bow.
PCGS CoinFacts gives the survival estimate to be 25 in all grades with five coins grading GEM PR65 or better. PCGS shows nine grading events with one PR62, three PR64 and one GEM PR65. Specimens with the Cameo designation, PCGS have graded two which are a PR61CAM and the Bender/Hansen PR65 CAM. Lastly, PCGS have two grading events for the Deep Cameo. They are a PR64DCAM and PR65DCAM. The PR65DCAM from the Harry Bass Foundation Collection is the sole finest at both services. The coin will be offered in Heritage’s May 2023 CSNS US Coins Signature Auction.
The Heritage cataloger wrote in the Bender listing: The Philadelphia Mint struck a small production of 35 proof three dollar gold pieces for collectors in 1870, to accompany a meager mintage of 3,500 business-strike examples. The proofs were delivered in two batches: the first, of 25 coins, was delivered on February 3, with the second delivery, of 10 pieces, taking place on June 1. The circulation strikes were all delivered on January 18. A single die pair was used to produce all the proofs. The proof dies are so similar to the business-strike dies that many numismatists have said they were the same, but John Dannreuther used overlays to demonstrate that they are different. The easiest way to distinguish between the formats is to compare the single leaf on the reverse, near the 1 in the date. On the proofs, the leaf is fully attached to the wreath, while it is attenuated and detached on the business strikes. The obverse proof die was used to strike at least some of the proofs every year from 1869 through 1873. This was the only use of the proof reverse die. John Dannreuther estimates no more than 12-14 proofs are extant today.
The strike and appearance of the new Hansen coin is described as: Two die states are known for the proofs, possibly corresponding to the different striking periods. The second die state has diminished detail in the upper wreath, especially on the right side. This coin is from the first die state, with sharply detailed design elements throughout. The richly frosted devices contrast boldly with the deeply mirrored fields and the well-preserved orange-gold surfaces are free of mentionable distractions. Overall eye appeal is terrific. PCGS lists a single coin in PR65 Deep Cameo, the only example that could be considered finer than this piece at either of the leading grading services (11/22). The high quality within the grade is confirmed by CAC. From Tom Bender's #1 All-Time and #1 Current PCGS Registry Sets in the Three Dollar Gold Basic Set, Proof (1854-1889) category. This coin is pictured on PCGS CoinFacts and is the plate coin for John Dannreuther's United States Proof Coins, Volume IV: Gold.
The Hansen Team decided to pay up for Bender coin rather than waiting for the finer PR65DCAM Bass specimen that will appear in an auction later this year. The finest graded coin is not always the best choice. This is a great coin and appear to be a great fit in the set that Mr. Hansen is assembling. There are a few more coins to see in the upcoming days.
Provenance: Henry Miller Collection; FUN Signature (Heritage, 1/2011 as NGC PR65+ Cameo), lot 5067, realized $216,000; Tom Bender PCGS Registry Collection; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3406, realized $216,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1870 Three Dollar Gold, PR65CAM PCGS POP 1/1, CAC Approved Certification #25599460, PCGS #88033 PCGS Price Guide $65,000 / Realized $216,000 Ex: Miller / Bender
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The 2023 FUN US Coins Signature Auction – Tom Bender Three Dollar Gold Proof (5 of 7)
Harry Bass vs. Tom Bender Three Dollar Proof Gold
Today posting is intending to be a fun little exercise. Before anyone get bent out of shape, this is only for fun. If you a player in buying the coins from these two sales, don’t let this feature influence you. Please. There are not many times in my lifetime have I seen two world class collections of the same coins as the Harry Bass and Tom Bender Three Dollar Proof Gold sets to be offered in the same period of time. This presents an amazing opportunity. As for the sales, the Tom Bender sale of the Three Dollar Proof Gold is down to the last auction. The offering from both collections were 73 amazing gold proofs. All the coins were either Cameo or Deep Cameo. More than half were Deep Cameo. The 73 coins are not half sold yet. The Bender Auctions have sold 21 of 37 coins in the collection. The remaining 16 will be offered in a Heritage Auction next week (Feb 2023). In the first two Bass Auctions, the sale of Three Gold Proofs have been light. In Part I and II, there have been only nine of the 36 coins offered. In Bass Part III (May 2023), there will be 15 coins offered and in Bass Part IV (Aug 2023), there will be 12 coins offered.
Heritage Auctions describe the Bender set of 37 out of 39 coins as: the finest complete certified $3 Gold Proof set ever assembled. The 36-piece basic set is complete. According to Laura Sperber, who encouraged Bender to begin the collection in 2005 and helped him obtain most of the coins, "this is the first $3 Proof Gold set certified by PCGS in 25 years of operation. Even compared to famous early collections, this set still ranks as the finest." Mr. Bender's collection contains some of the legendary rarities in Proof gold coinage, such as the 1854, 1855, 1856, 1873 Open 3, 1875 and 1876 issues. He counts his 1856 $3 gold PR65+DC, the finest graded, as his favorite. "The Proof $3 gold is an undervalued series," he says. "This is due in part to the extreme rarity of the coins. For example, many of the dates only have populations of nine or 10. The 1855 and 1856 only have mintages of five each." When the set was elected in the PCGS Hall of Fame in 2011, it was described as: Another new set, taking away both a Gold Star award as well as a Hall of Fame win in its first year! And no wonder…. With a Set Rating of 66.27 and a completion rate of 100%, it’s a mind boggling assemblage of some of the rarest U.S. coins. Containing pieces from such collections as Bass, Garrett, and Trompeter and with no fewer than fifteen absolute finest knowns (pop 1, none higher) this set leaves even the most experienced numismatists speechless. In 2011, Tom added an 1855-S to his Major Variety Set, and so that set is included as a HOFer. Well done Tom! The collection is missing the 1865 “Restrike” and “1873” Closed 3 specimens.
There is much more to the Harry Bass Foundation Collection of Gold than the 36 pieces of Three Proof Gold. His Three-dollar collection had proofs examples for the Philadelphia issues and high-end business strikes for branch mint. The Harry W. Bass, Jr. Foundation website described the collection as: The Only Complete $3 Gold Collection. Harry Bass acquired at least one example of each date and mint of $3 gold coin from 1854-1889, and for some, duplicates illustrating different finishes or varieties. The Core Collection consists of a complete run of proof coins from the first year of issue (1854) to the last (1889), plus circulation strikes of the branch mint issues. This accomplishment is only feasible with the inclusion of the unique 1870-S $3 gold coin, which Harry Bass acquired at the historic Eliasberg Sale in 1982. Today this set stands as the ultimate in existence anywhere. Out of the 39 coins required for a complete PCGS Registry set, the Bass Collection is missing the unique 1855-S Branch Mint Proof, the 1865 due to only having a restrike when both is required, and maybe surprising as well as disappointment, his 1872 Proof was determined to be a MS prooflike. The discussion today, is how the two proof sets compare.
I created a table comparing the two collections side by side. These are my six key take-aways:
Bender Strengths
Base Set Completion (36 coins) – Bender 100% Completed, Bass 97.2%, missing the 1872 Proof
Major Varieties Completion (39 Coins) - Bender 94.9% Completed, Bass 92.3%
CAC Approved for Grade – Bender 100%, Bass 55.5%
I think we would be splitting hair if we try to determine which Three Dollar Proof collection is the best or greatest. The purpose of the exercise was to study and learn. There was a couple surprises from what I discovered. First, I did not expect the Bender set to be 100% CAC. Secondly, the MSPL coin in the Bass set was a shocker. In Heritage’s September 2022 of Historic Harry W. Bass Jr. Core Collection Part I, the cataloger wrote: In United States Proof Coins, Volume IV: Gold, John Dannreuther adds: "The Harry Bass Core Collection has a very deceptive example that has been called a Proof by nearly every numismatist that has examined it. Mr. Bass included it in his complete Proof set and considered it a Proof. However, the author recently realized it was not a Proof, as it has the die pair used for the circulation strikes. It is just as deceptive as an 1870 circulation strike that was called a Proof by several grading services, until the author proved that two different dated dies were used for the two formats." Bass purchased this coin privately from Abe Kosoff in July 1973. Finally, I guess it should not have been a surprised that 72.2% of the Bass set was DCAM Designation.
Up to this point, Dell Loy Hansen has purchased seven of the Bender coins and three from the Bass sales, totaling ten coins. In a 39-piece set, he has improved 25.6% from these two collections. After the next three sales, we will watch to see what number of purchases that he lands on. Just ten more coins will get the Hansen set over the 50% threshold of Bass/Bender specimens. Another interesting point to watch for… can he obtain any of the six key strengths that I have identified. I think the completion of 36-piece basic set may be a given.
1872 Three Dollar Gold, PR64CAM, Ex: Tom Bender
Seldom Seen Finer, CAC Endorsed
D.L. Hansen purchased the Bender 1872 Three Dollar Gold which is definitely not a deceptive example of a mint state prooflike specimen. Expert David Akers wrote about this coin: Only 30 proofs were minted and they are just as rare as the small mintage would indicate. In our 238 catalogue auction survey, 26 proofs of this date were offered. It is my opinion, however, that many of those offered were not really proofs at all but rather were first strike uncs, which can be very deceptive. As is always the case, however, different dies were used for the proofs than were used for the business strikes, and on the 1872, the position of the date is markedly different on proofs than it is on business strikes. Business strikes have the date higher in the field, almost centered between the word DOLLARS and the bow on the wreath. On the other hand, the date on the proofs is lower in the field and also a bit more to the right. The difference in the date location is pronounced enough that one can usually tell if a particular coin offered at auction is a proof or an unc merely by carefully examing the photograph in the catalogue.
PCGS CoinFacts gives the survival estimate to be 22 in all grades with five coins grading GEM PR65 or better. PCGS shows 18 grading events with six specimens having the Cameo designation. PCGS have graded four which are a PR64CAM with includes the Bender/Hansen CAC specimen. The other two is a PR64+CAM and the sole finest PCGS PR65CAM.
The Heritage cataloger added some additional information: The familiar obverse die from 1869 was used until 1873 and makes its penultimate appearance on the 1872 proof three-dollar gold. Reportedly, only 30 proofs were struck. During the years 1866 to 1876, additional proofs may have been struck for some or all of those three-dollar issues, although in small quantities. The small mintage of 1872 circulation strikes may have encouraged additional proofs to be struck, as there would have been collector demand.
In the Heritage listing, the coin was described as: This is a near-Gem, richly contrasted proof with watery, jet-black fields well-frosted devices. Vibrant orange-gold color complements the Choice surfaces. While multiple obverse die uses diminishes isolated high-point detail, the strike is deep and sharp overall. A few wispy hairlines are seen with a loupe, yet the 1872 proofs are seldom seen any finer. PCGS reports a single 64+ and one finer cameo proof.
Prior to the Bender sale, the 1872 three dollar was a missing coin the D.L. Hansen Proof Collection. Being the Bass Sale did not produce an 1872 Proof specimen, this coin was a great opportunity that realized a surprising low result of only $40,800 which is below the PCGS Coin Value Guide of $47,500. Of late, I have not seen many opportunities to obtain a gold CAC coin 20% below PCGS value. This was a much-needed pickup at any price.
Provenance: Tom Bender PCGS Registry Collection; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3407, realized $40,800; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1872 Three Dollar Gold, PR64CAM PCGS POP 4/3, CAC Approved Certification #25599504, PCGS #88035 PCGS Price Guide $47,500 / Realized $40,800` Ex: Tom Bender
The 2023 FUN US Coins Signature Auction – Tom Bender Three Dollar Gold Proof (6 of 7)
PCGS TOP POP Proof 67… Are they rare?
The number is 20. Since the first PCGS coin was certified over 35 years ago, there have been 20 grading events that have produce PR67 Three Dollar Gold Proofs. During this time, PCGS POP reports a total of 1202 Three Dollars Proofs certified. Certainly, this number have duplicates and resubmissions. If we estimate 10% is duplicates, then there is an estimation of 1080 certified coins. This would indicate to us that less than 2% of the Three Dollar Gold Proof population are PR67 specimens.
In looking at what dates they can be found, 18 of the 20 coins are dates that range from 1881 to 1887. Until the very recent Harry Bass grading event, all the certified three-dollar PR67 proofs were in a narrow date range 1881 to 1887. The Bass grading produced two super civil war era coins, the 1862 PR67+DCAM and the 1863 PR67+DCAM CAC. The 1863 is the sole finest PCGS certified DCAM/CAC specimen known. Also, there were two additional Bass coins with one grading PR67DCAM and the last PR67CAM. The Bass grading event increase the population of PR67 Three Dollar Gold Proofs from 16 to 20. This is a detail breakdown of the PCGS PR67 Three Dollar Gold Proofs.
PR67+Deep Cameo (Two Grading Events)
Only the two recently Harry Bass graded 1862 and 1863 coins are in this top rung category. The 1862 is described in an upcoming listing as “The Single Finest Proof Extant”. In a detail description: A 19th century proof gold coin in Superb Gem condition with Plus and Deep Cameo designation suggests a remarkable degree of technical quality and eye appeal. The Bass 1862 three dollar lives up to the billing. It is, for all intents and purposes, a flawless specimen with gorgeous yellow and orange-gold surfaces, spectacular field-device contrast, and a impressive lack of contact. A perfect combination of absolute and conditional rarity. Interesting, the coin did not receive the CAC sticker, but the 1863 did. The 1863 is the second PR67+Deep Cameo and has the CAC sticker. These two civil coins have created a league of their own.
PR67+ Cameo (Two Grading Events)
There are two PR67+ Cameo specimens in the PCGS POP report. The first is an 1884 PR67+ Cameo and the second is dated 1885. The 1884 is the third PR67+ from the Bass Collection. We will learn more on the Bass coins when they are offered by Heritage Auctions later 2023. There is not much information on the 1885 PR67+ Cameo. This is an interesting coin and had a lot to lose in the Bass grading event. Without the Bass event, the coin was the sole finest PR67+. Now, it is just one of four with two better as Deep Cameo specimens. The 1885 has not appeared in auction.
PR67 Deep Cameo (Six Grading Events)
Prior three recent PR67+ grading events, any PR67DCAM could be said to be the second finest PCGS certified. They have dropped to the bottom of top five. There are six coins that have received the PR67DCAM grade. The first PR67 Deep Cameo that shows up in the POP report is the 1883 PR67 Deep Cameo, CAC specimen from the Tom Bender Collection. This coin sold earlier this month (Jan 2023) realizing $198,000. The coin was purchased by the owner of the Duke Collection and currently being used in his amazing U.S. Proof Type Set Collection. Next, there are two 1884 PR67 Deep Cameo specimens. Only one have shown up in auction. A CAC certified specimen was offered by Heritage Auctions in 1/2012. The coin realized $115,000. If the second coin exists, there is no recorded info. The next coin is the single 1886 PR67 Deep Cameo specimen. According to info that I can find, the only appearance of this coin was in a 6/2014 Heritage Auction where it did not sale. The final two coins in this group is a pair of 1887 PR67 Deep Cameo specimens. The Simpson specimen appeared in a 4/2021 Heritage Auction realizing $63,092.40. The coin is currently in the Contursi Family Collection. The second 1887 PR67 Deep Cameo specimen is in the High Desert Collection. Its last appearance was 1/2012 Heritage Auction realizing $115,000. In the ten years since the sale of this coin, the top condition census coins have seen a drastic change in the POP report.
PR67 Cameo (Nine Grading Events)
With nine grading events, this is where almost 50% of the PR67 coins can be found. The grading everts are distributed in five dates: 1881, 1882, 1884, 1885, and 1887. Two dates have multiple grading events with 1884 having two and 1885 the most common with four. Starting with 1881, the D.L. Hansen Collection obtained the sole finest 1881 specimen earlier this month in the Tom Bender sale. I will feature this coin today. The sole finest 1882 specimen is currently being offered by Rare Coin Wholesalers on their website with ask price of $154,000. The 1884 indicates two PR67 Cameo specimens. The D.L. Hansen Collection has one of the two that was acquired in the 2018 timeframe via David Lawrence Rare coins. There was no information of the second piece. As for 1885, PCGS has graded four specimens. The D.L. Hansen Collection has one of the four that was acquired in the 2016 timeframe via Barry Stuppler. As for the other three, the only known information is that one of them sold in a Stacks Bower Winter 2022 Auction. The coin realized $96,000. The fifth and last PR67 Cameo is dated 1887. The 1887 specimen is a sole PCGS PR67CAM specimen, but some of the sting is deadened by the two DCAM specimens. The D.L. Hansen Collection has sole PR67CAM that was also acquired in the 2016 timeframe via Barry Stuppler. As a final note, the Hansen Collection has four of the five PR67CAM dates, excluding the 1882 which is currently being offered by Rare Coin Wholesalers.
PR67 with No Designation (One Grading Event)
As a final conclusion, eight of the 20 PR67 Three Dollar Gold Proof has the designation of Deep Cameo. The number of Cameo is eleven. That leaves one without designation. There is not much known pertaining to this coin.
As you followed though this posting, you saw that the Bender Collection had only two PR67 coins. They were the 1881 Cameo and 1882 Deep Cameo specimens. The Bass Collection had four as result of the recent grading event. They were the two amazing 1862 and 1863 civil war PR67+DCAM specimens. These to coin was followed by a third 1884 PR67+CAM. Completing the Bass PR67 specimens is the 1885 PR67CAM. Finally, the Hansen Collection also have four PR67CAM specimens, but they are not the in the same stratosphere as the Bass Big Four. Let’s take a look at the fourth and newest Hansen PR67CAM specimen.
1881 Three Dollar Gold, PR67CAM, Ex: Tom Bender
Finest-Certified Example at PCGS, CAC-Approved Quality
Expert David Akers comments: A number of deceptive first strike uncs exist that are virtually indistinguishable from actual proofs. Close inspection reveals the differences, however. On the business strikes, the date is level and the numerals are directly between the corresponding letters of the word DOLLARS. On the proofs, however, the date slants slightly up to the right, making the numerals appear more nearly below the corresponding letters. Also, on the proofs, the outside row of dots of the tassel at the right side of the wreath above the 3 appear detached from the rest, whereas on the business strikes they are clearly connected. Although with most dates the tendency is to mistake first strike uncirculated pieces for proofs, I can say that in the case of the 1881, I have seen several proofs called first strike uncs! Actually choice uncs and proofs of this date are about equal in rarity and bring approximately the same price when offered at auction.
PCGS CoinFacts gives the survival estimate to be 50 in all grades with 20 coins grading GEM PR65 or better. PCGS shows 42 grading events with eight specimens having the Cameo designation and seven Deep Cameo. PCGS have graded one coin at PR67. The Bender/Hansen PR67CAM, CAC specimen is the sole finest.
The Heritage cataloger wrote: The Philadelphia Mint struck 54 proofs three dollar gold pieces in 1881, with the coins delivered in three different batches. The first group of 40 pieces, was delivered with the sets on February 9, and another delivery of 10 coins took place on March 26. Then there was a long gap in production, until a final batch of four proofs was delivered in the fourth quarter of the year. One obverse and two reverse dies were used to strike the proofs. This coin was struck from the JD-1 dies, with a centered date on the reverse. John Dannreuther estimates no more than 22-26 examples of JD-1 are extant today in all grades. A minuscule mintage of 500 business-strike coins for commerce were struck on June 4 and many of them show sharp strikes and prooflike surfaces. Many deceptive business strikes have been cataloged as proofs over the years. Fortunately, the reverse of the business-strike die shows the date positioned further to the right than on either of the proof dies, making it possible to distinguish between the formats.
The new Hansen coin is described in the auction as: This magnificent Superb Gem exhibits sharply detailed design elements throughout. The vivid yellow-gold surfaces are impeccably preserved and the deeply mirrored fields contrast boldly with the frosty devices, enhancing the terrific eye appeal. This coin is the single-finest certified example at PCGS, making it a Registry Set essential. The high quality within the grade is confirmed by CAC. From Tom Bender's #1 All-Time and #1 Current PCGS Registry Sets in the Three Dollar Gold Basic Set, Proof (1854-1889) category. This coin is pictured on PCGS CoinFacts and is the plate coin in John Dannreuther's United States Proof Coins, Volume IV: Gold.
The Tom Bender Family Part II sale offered two PR67 Three Dollar Gold Proof specimens. The Hansen team was able to get this 1881 PR67CAM at a reasonably good price. This POP 1/0 specimen replaces an inferior PR62 CAC obtained in 2019 from Douglas Winter. The Bender coin looks good in the Hansen set. In the next post, we will take a detail look at the D.L. Hansen Three Dollar Gold Basic Set, Proof (1854-1889) set.
Provenance: Tom Bender PCGS Registry Collection; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3413, realized $114,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1881 Three Dollar Gold, PR67CAM PCGS POP 1/0, CAC Approved Certification #25599476, PCGS #88045 PCGS Price Guide $130,000 / Realized $114,000 Ex: Tom Bender
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The 2023 FUN US Coins Signature Auction – Tom Bender Three Dollar Gold Proof (7 of 7)
Three Dollar Gold Basic Set, Proof (1854-1889)
In this final posting, this will be a good time to recap the Bender sale and the current status of the Hansen 36-piece Three Dollar Gold Basic Set. In the past series of posts you have watched the showcasing of the Three Dollar Gold coins that D.L. Hansen purchased from The Bender Family Collection, Part II sale offered in the Heritage January 2023, FUN US Coins Signature Auction. There were 22 Three Dollar Proofs offered in the sale and the Hansen team successfully purchased the first lot offered, the 1854 Three Dollar, PR63 Cameo. This is the first coin required in the complete Three Dollar Gold Proof set. As a recap, the Hansen Team was successful in purchasing a total of seven coins from the Bender Sale:
LOT #3396 - 1854 $3 PR63 Cameo PCGS Realized $108,000 (Replace PR58)
LOT #3397 - 1856 $3 PR65+ Deep Cameo PCGS CAC Realized $408,000 (Replace PR62CAM)
LOT #3398 - 1859 $3 PR65 Cameo PCGS. CAC Realized $192,000 (New Coin)
LOT #3406 - 1870 $3 PR65 Cameo PCGS Realized $216,000 (Replace PR61CAM)
LOT #3407 - 1872 $3 PR64 Cameo PCGS. CAC. Realized $216,000 (New Coin)
LOT #3412 - 1880 $3 PR65 Deep Cameo PCGS CAC Realized $84,000 (Replace PR64)
LOT #3413 - 1881 $3 PR67 Cameo PCGS. CAC Realized $114,000 (Replace PR62)
In the 36-piece set, these seven upgrades represented improving 19.4% of the coins in the basic set. The upgrades did not move the needle on the ranking because the leader board sets are 100% complete. The two new coins moves the completion of the Hansen set to 86.11%. The set currently have 31 of the 36 required coins. Also, the upgrade GPA results were positive. GPA with Bonuses moved from 64.69 to 65.78. There was more than a one point improvement in GPA with just seven coins. Lastly, the % DCAM improved from 40.00% to 45.16%. More importantly, there is a key attribute that is not measure. The upgrades replaced three non-CAM/DCAM specimens. Both the Bender and Bass sets were 100% CAM/DCAM. The Bender Part II sale was very impactful in a positive way.
The coin that is being featured today is one that I would consider as a workhorse. The 1880 Three Dollar Gold, PR65DCAM is a solid PCGS POP 3/2, CAC approved specimen.
1880 Three Dollar Gold, PR65DCAM, Ex: Tom Bender
Only 36 Proofs Struck, 18 to 22 Survivors
Expert David Akers describes the 1880 Proof as: The proofs that I have seen all show the same rust spot on the curl of hair below Liberty's ear that is present on the proofs of 1877, 1878, and 1879. I do not know if the rust spot is present on all known proofs, but I can say it has been present on the ones that I have seen. In addition to the rust spot in the hair, there is also one tiny rust spot in the neck, as well as the vein on the nose and the teardrop by the eye. Also, the position of the date is different. On the business strikes, the date is level, whereas on the proofs, the date slants slightly up to the right. The inside left part of the right bow is also completely missing on the proofs, the result of a lapped die; it is present on the uncs. Furthermore, the wreath ends at the top of the reverse are distinctly separated on the proofs, whereas on the business strikes there is a "ghosting" that makes them appear connected.
PCGS CoinFacts gives the survival estimate to be 28 in all grades with 10 coins grading GEM PR65 or better. PCGS shows 27 grading events with five specimens having the Cameo designation and six Deep Cameo. As of today, PCGS have not graded an 1880 Three Dollar Gold Proof at the PR67 level. The finest graded by PCGS is a sole PR66DCAM. Both the Bass and Bender specimens were graded PR65DCAM. The Bender specimen is CAC approved and the Bass is not. Their Hansen team popped of the Bender PR65DCAM CAC.
The Heritage cataloger wrote on the coin mintage: The 1880 was the final year before proof mintages began to increase -- one might say significantly -- with the highpoint in 1888 with 291 proofs struck. John Dannreuther likens this increased mintage to the increase in proof production in the 1880s for gold dollars, but we do not see the increase similarly, especially on a percentage basis. Proof gold dollar production peaked in 1889 with a staggering 1,779 pieces, undoubtedly many of which were used for jewelry purposes. Three dollar proofs were not similarly used in jewelry. Congress abolished both denominations in 1890.
The Heritage cataloger wrote about the concerns with the PR and PL specimens: The 1880 three dollar is an issue that has bewildered the best-intentioned catalogers in the past. The difference in date positions is minute at best. The main identifiers for proofs is a large die lump on the curl, and a meandering die line on the nose (as seen on the present specimen). It may be going out on a limb, but JD goes there anyway in his proof gold reference, to state it is possible that the five proofs struck in the third quarter of 1880 were actually Deep Mirror Prooflikes struck from circulation-strike dies. At least one such coin has been discovered, designated as a proof but struck from business strike dies. In any case, that is not a concern with the present coin.
The new Hansen coin is described in the Heritage sale as: The surfaces exhibit deeply mirrored fields with varying degrees of mint frost over the devices. Since the obverse had been used since 1877 the amount of frost on the devices wanes with successive strikes. This indicates that this piece was struck early in 1880 as there is considerable frost over the devices on each side. The surfaces show even, lightly tinged reddish-gold color. There are no obvious or mentionable contact marks on either side that would serve as useful pedigree identifiers. Exceptional quality overall.
This update completes the posting on the Bender Three Dollar Proofs from the 2023 FUN US Coins Signature Auction. The Bender Family Collection, Part II sale was a great way to start the year. January was a big month for Bender coins. There is potential that February could be a continuation. In the second month of the year, the Hansen Team could pick up some additional great coins. The Long Beach Expo Auction will showcase The Bender Family Collection, Part III, which I believe to be the grand finale. I have identified twelve coins that could improve D.L. Hansen Three Dollar Gold Proof Collection. By time you read this post, the sale will be less than 48 hours from hammer down. I wish I could watch, but sometimes duty calls elsewhere. Maybe, this is not the last post that we will see on the Tom Bender Three Dollar Gold Proofs.
Provenance: The RLS Collection / Chicago ANA, (Stacks Bowers 8/2013), lot 4467, realized $51,112.50; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3412, realized $84,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1880 Three Dollar Gold, PR65DCAM PCGS POP 3/2, CAC Approved Certification #14303162, PCGS #98044 PCGS Price Guide $87,500 / Realized $84,000 Ex: Tom Bender
"In the 36-piece set, these seven upgrades represented improving 19.4% of the coins in the basic set. The upgrades did not move the needle on the ranking because the leader board sets are 100% complete. The two new coins moves the completion of the Hansen set to 86.11%. The set currently have 31 of the 36 required coins."
Looked at the set and the 5 missing appear to be in the HA auction of Bender Part III ending this week (Feb 9). So might be some more updates on this shortly.
The 2023 FUN US Coins Signature Auction – The Final Post
First 2023 Update for the D.L. Hansen Proofs (1859-1915)
I saved a really nice purchase from the 2023 FUN Auction for the last post. It does not get much better than an Indian Head Eagle Proof. All the coins purchased in the FUN sale was from the Tom Bender Collection except for two. This Eagle Proof and a Morgan Mint State DMPL Silver Dollar. The coin was missing from the Hansen Morgan DMPL Silver Dollar set. This set many be worthy of additional focus at some point in the future, Today, we will discuss the Proof Eagle and I will show the two purchases.
This Proof Eagle is a coin of great significance to the D.L. Hansen Collection. It is the last coin that was needed to complete another set. That set was The Indian Head $10 Gold Basic Set, Proof (1908-1915) set and described as: Only eight coins comprise the $10 Indian set in proof, but they’re eight coins filled with challenge and rarity. From the lowest mintage coin (71 for 1913) to the highest mintage coin (204 for 1910) the facts remain the same: these coins are RARE. The $10 Indians proofs are matte or Roman finish, depending on the date, as is true of the other gold coins of this era. Even the most “common” date (the 1908) has seen less than 20 pieces certified in Proof 65 or better. The mintage figures for the 1910 have been brought into question, as its relatively high mintage of 204 isn’t indicative of its rarity. PCGS has graded only 20 pieces in nearly 15 years! It is interesting the last coin the Hansen Team acquired for this set is the 1910. The current PCGS POP report has increase the grading events to 23 which is up from 20 when the PCGS description was wrote. Before we discuss the details of the 1910 Proof Eagle, let’s talk about the significance to the overall proof collection.
The 1910 Proof Eagle is a latest addition to the Double Eagle Proof Set. This new coin advances the D.L. Hansen Collection of Collectable Gold Proofs one step closer to completion, so let’s recap the progress the Mr. Hansen has achieved in the first month of January 2023. I have detailed the eleven sets that comprise the complete collection for proof gold from 1859 to 1915 (all collectable). The set consists of 294 coins. As I have stated several times before, PCGS does not have a set that represents these sets, so this chart provides a fairly accurate representation.
Since start of the New Year, the collection has advanced slightly in number, but significantly in additions. The collection requires 294 coins with only 57 remaining. Last year, I determined that Mr. Hansen was on a pace of about 15 new additions per year. He reduced by four in January by adding the Proof Eagle, one Three Dollar Gold Proof from the Harry Bass sale, and two more from the Bender sale. With three more Bass/Bender sales coming, in fact one took place last night, there is an opportunity for the Hansen Collection to add the three missing Three Dollar Gold Proofs that I show in the abbreviated set. After these last three, I would expect things to slow back down for the remainder of 2023. At the pace of 15 per year, the collection is about four years away from completion. Let’s watch and see what happens after a fast start in 2023.
1910 Indian Head Eagle, PR67
Beautiful Top-Grade Example, Rarely Seen in Any Condition
Former PCGS Founder David Hall once commented: The mintage for this issue is listed as 204, but like the mintage figures for all 1910 gold issues, this figure is suspect. Based on graded populations and auction appearances, the 1910 is certainly rarer than the 1908, and seems to be rarer than several other issues with much lower mintages. Either half of the mintage was melted at the Mint or the reported figure was simply incorrect. Somewhere between 50 and 75 examples are known today and the original number released by the Mint was probably half the 204 reported figure.
PCGS CoinFacts gives the survival estimate to be 75 in all grades with 20 coins grading GEM PR65 or better. PCGS Population report shows 23 grading events with 10 graded PR65 or better. There are three specimens graded PR67 with the sole finest a PR67+ from the Gerald R. Forsythe Collection. One of the PR67 is the new Hansen coin and the second is unknown.
The Heritage cataloger describe the coin as: The 1910 proof Indian eagle is a major rarity in all grades. The Guide Book mintage of 204 pieces likely includes coins melted as unsold at the end of the year. John Dannreuther, in United States Proof Coins, Volume IV: Gold, states a mintage of 167 coins. Out of these, just 50 to 60 pieces are believed extant, and the rate of auction appearances for the issue suggests that even this estimate is optimistic. Since out Auction Archives began in 1993, we have handled a 1910 proof ten on only 18 prior occasions. PCGS and NGC combined report 50 grading events, but this figure likely includes some duplication. The Superb Gem grade level is occupied by 13 coins, according to population charts, mostly in PR67, but over the course of nearly three decades we have only seen such a coin on two prior occasions, both appearances being more than a decade ago. Dannreuther's census of significant examples lists only five pieces in this top grade.
As for the Hansen specimen, the cataloger added: The present coin is without doubt among the finest known. Needle-sharp motifs complement the smooth, satiny surfaces, bathed in rich lemon-orange color. No contact marks or hairlines are seen. It has been suggested that the satiny sheen of the 1910 proof eagles was produced by sandblasting the dies instead of the coins. Although research continues into the die manufacturing process for proof gold of this era, that hypothesis would explain the gradually changing appearance of the surfaces on proofs of this finish. Early strikes from the proof dies are slightly more granular than later strikes, although comparison of individual coins is often required to see the differences. The present coin is finely textured, suggesting an early die state, which is fitting for one of the finest examples known.
It is sad in a way that we are wrapping up the 2023 FUN US Coins Signature Auction. It will be forever remembered for the sale of the three unique coins: Bass 1870-S Three Dollar Gold, Bender 1870-S Half Dime, and the Prestwick 1873-CC No Arrows Seated Dime. This was not all, there were other million dollars coins like the trio from Jim O'Neal Collection of U.S. Early Half Dollars. How can you forget the possibly unique 1907 Arabic Numerals Double Eagle from the Bob Simpson that realized $1,680,000. The Bass Sale was a coin showcase. Beside the 1870-S $3, there were three other Harry Bass coins that realized more than one million dollars, including the elusive 7x6 Stars, 1798/7 Eagle that D.L. Hansen purchased for $1,110,000.
This update on FUN sale wraps up just in time for the 2023 Long Beach Expo Auction. By time you have read this post, the sale will be in at least the second day. Will Hansen have any success in this sale? It hard to say. I don’t think he will set out completely. What I mean by this is seating out the live bidding, but just placing Max Bids. Everyone that have done this know, you could come up empty handed. Although, Hansen quest is still a very fun collection to watch. Just in the first month and half of 2023, I have posted coins realizing more than $4,000,000 and I don’t think it’s over.
Provenance: Tom Bender PCGS Registry Collection; FUN US Coins Signature Auction, (Heritage 1/2023), lot 3889, realized $288,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1910 Indian Head Eagle, PR67 PCGS POP 2/1 Certification #25377068, PCGS #8892 PCGS Value Guide: $290,000 / Realized $288,000
In early 2020, we saw a new addition to this set, the finest 1821 Dime Proof, a PCGS PR66 specimen. At the time I wrote: This new Capped Bust Dime is a PCGS confirmed and certified proof that is added to Capped Bust Dimes, Proof (1820-1837) set. The set includes an 1821, 1827, 1831, and 1835 specimen (25% Complete). Although, this set requires only 16 coins, and Mr. Hansen understands the set may never be completed, but “it’s still fun to add a piece when you can”. How difficult is this set? PCGS describes as: What is the largest mintage of any coin in this set? Believe it or not, it's 20 coins! Some of the dates have never been certified by PCGS in any grade (such as 1820 and 1836) and every date is (obviously!) a great rarity in the Proof format. A few spectacular examples survive, though, such as the 1834 in PR67 from the King of Siam set and a few others. Since the writing of this PCGS introduction to the set, a specimen for the 1820 has been certified by PCSG in a crossover from NGC. Presently, the coin is in the #1 registry Capped Bust Collection.
Since this update in 2020, the 1829 specimen was added bring the count to five. The coin was acquired in a private transaction with David Lawrence Rare Coins in early 2022. The coin last appeared in auction was Stacks Bowers March 2021 Rarities sale. The coin realized $18,000. Prior appearance was from a Bowers and Merena's Rarities Sale of August 2001, lot 101. The PCGS POP 1/2 coin certification #42140672 and was not previously featured in Hansen watch.
Has this 16-piece set ever been completed? Doubtful. In the PCGS registry, there are only three active collectors: Dr. Link, Coinbert, and Mr. Hansen. Naturally, Dr. Link has the most advance Capped Bust set. In addition, he is the most advance collector in the Capped Bust series. His collection has amazing specimens representing both finishes.
I know there are some really good reference books on early proof coinage. For me, I learn better by doing rather than reading about something. It is also more fun. With that in mind, I attempted the see if the 16 coins are really collectible. I think they most are except for the 1837 Capped Bust. I question that coin will ever appear in a PCGS holder. Also, I want to get a feel for how good is the six Hansen coins when you think of PCGS condition census. The six coins has a collective PCGS POP of 10/8 (avg 1.6/1.3). That not really bad. I create table to show some of my findings.
Today, I will feature the latest addition, the 1830 Capped Bust Dime, PR64+ specimen. As the Dell Loy Hansen Set continues to grow and expand, it going to be fun to watch as see how many more early proof dimes can be added. I will close by sharing a brief comment that I wrote about three years ago: Just to give you a taste for the difficulty of the series. A Capped Bust expert shared this information on the pre and post dates for this series. The large size dimes are tough. The Greensboro 1820 NGC PR66 Cam (now PCGS PR66+ CAC) is likely unique. There may be two 1822 proof dimes, the Quint 1822 PR66+ CAM CAC and a PR63. This indicates to me that only one or two (maybe three) collectors can be serious about this series in the same time period. As for the 1821 proof dime, there may be four known specimens, with one locked in a vault at the Smithsonian. This is a very rare set with three accomplished collector’s competing. This could be a fun set to watch for years to come.
1830 Capped Bust Dime, PR64+
In The D. Brent Pogue Collection, Part III sale, the Heritage cataloger stated the 1830 Earle/Eliasberg/Pogue Gem Proof Proof-65 Cameo Dime is the finest of Three Certified by PCGS. Probably the only part of the statement that can disputed is that since 2016 three more specimens have been certified by PCGS bring the POP to six. Including in this total is PR63 and PR64+ non-GEM specimens. The other four are GEM PR65 specimens including two that have cameo designations. This is where the PCGS Population report loses some believability in a small factor for me. As latest as August 2021 Stacks Bowers sale the cataloger states: Exceedingly Rare Proof 1830 Capped Bust Dime with Only Three to Five Known. Later in the same listing, the experts at PCGS CoinFacts suggest that only three to five Proof 1830 dimes are known. The four PCGS GEMs in the populations, I think would be one too many. It is more believable that all four grading events is the same three coins, which is the Earle/Eliasberg/Pogue, the Stacks/Benson, the Pittman/Coinbert Gem Specimens. I think Dr. Charles Link may owned one of these coins but cannot confirm. With him having 8 out of the 16 coins, the 1830 could be one of his missing coins or it is possible he has the Stacks / Benson PR65 Specimen.
With a report mintage of five, PCGS CoinFacts gives the survival estimate to be four in all grades with two coins grading GEM PR65 or better. I believe this estimation is a little low. I have identified five distant coins with pedigrees. As discussed earlier, there are current six PCGS grading events for this coin and NGC has four coins graded 1830 proofs with one each, PR63, PR64, PR65, PR66. This results in ten total grading events. This seems to be high. I believe this to be a pretty good roster of the top five known specimens.
My Roster of Significant 1830 Capped Bust Proof Dimes by Currin
1. Earle/Eliasberg/Pogue Specimen, PR65CAM PCGS Cert #31914913. - George H. Earle, Jr. Collection, (Henry Chapman 6/1912), lot 3186; Louis E. Eliasberg, Sr. Collection (Bowers & Merena 5/1996 as Raw Proof-66), lot 1089, realized $26,400; Benson Collection, Part III / Benson /Robert Blaugrund Sale, (Goldberg Auctioneers 2/2003), lot 3240, realized $27,888; The Orlando Sale, (Stack’s 1/2009), lot 243, realized $80,500; Larry Hanks; The D. Brent Pogue Collection, Part III, (Stack's Bowers 2/2016 as MS65 Cameo PCGS), lot 3037, realized $88,125.
2. Stacks / Benson Specimen, PR65 PCGS Cert #43205260. - James A. Stack, Sr. Collection (Stack's, 1/1990), lot 40; Benson II (Ira & Larry Goldberg, 2/2002), lot 478, realized $24,278; US Coins Signature Auction (Heritage, 1/2021 as PR66 NGC), lot 4007, realized $50,400; Currently in a user's private Set Registry Inventory. (Note: This coin could be in the Link Collection, but I have not been able to confirm.)
3. Pittman/Coinbert Specimen, PR65 PCGS Cert #32736410, - Dr. Christian A. Allenburger Collection, (B. Max Mehl 3/1948), lot 867, realized $8.65; John Jay Pittman Collection; John Jay Pittman I, (David Akers 10/22/1997 as Raw Proof-63), lot 564, realized $18,700; Currently in a Coinbert PCGS Registry Collection
4. Hansen Specimen, PR64+ PCGS Cert #46137763, - Purchased in Private Transaction from David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
5. Wright Family Specimen, PR63 NGC Cert #608612-006 - Charles G. Wright Family Collection, (Heritage 4/2014), lot 4102, realized $18,800; Central States US Coins Signature Auction, (Heritage, 4/2020), lot 3688.realized $18,000; Rarities Night / ANA Auction, (Stacks Bowers, 8/2021), lot 4054, realized $19,200.
The providence is unknown for the Hansen coin. Where does it belong in history? Does it even have a history? More research is needed. I do know, there are a few others that have sold in past auctions that I have not been able to identify or connect to the Hansen coin. The most significant is a PR65 NGC that appeared in a 1996 RARCOA Auction. This coin is a possibility. An unidentified PCGS is PR63 that sold in a 2000 Bowers & Merena Auctions. There is a trio of other third-party certified specimens that have appeared, including a PR63 ICG, PR62 SEGS, and PR60 ANACS. I doubt one of these would be the Hansen coin, and very possible they are prooflike specimens. Of the five other appearances, if the Hansen coin is one of these, I think the most likely possibility would be the RARCOA or the B&M. Or could it be a coin that has never appeared in auction? That is possible too.
Provenance: Unknown; Purchased in Private Transaction by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection
1830 Capped Bust Dime, PR64+ PCGS POP 1/4 Certification #46137763, PCGS #4549 PCGS Value Guide: $55,000 / Cost Unknown
U.S. Coins Complete Basic Set, Circulation Strikes (1792-1964)
This update rekindles some fond memories. In the early days of the Hansen Collection and Hansen watch, there was a lot of focused placed on the U.S. Coins Complete Basic Set, Circulation Strikes (1792-1964). This was the core set of the core collection. The 2821-piece set is complete except for two coins. There has been a realization of late, that this set may never be 100%. The two missing coins are a pair of half eagles. The 1822 dated half eagle is required for this registry set. The only 1822 Half Eagle available to collectors is from the D. Brent Pogue Collection. The coin sold in a Stacks Bowers March 2021 Auction realizing $8,400,000. Dell Loy Hansen was one of the under bidders. This coin will be remembered as the first big missed for the Dell Loy Hansen. Some people do not agree, but I believed that it forever changed the course of this collection.
The other missing coin is the 1798 “Small Eagle” half eagle. The coin is called one of the famed rarities of the series, but it is obtainable with patience. The Harry Bass specimen will appear in auction in a few months. Is this a coin that the Hansen Team will try to acquire? I think so, but over the past few years, I believe the Hansen philosophy has matured. In today’s term, I don’t think he sees any coin as must have. This really makes opportunities and auctions unpredictable. What he is working on, is to make his coins the finest possible. Let’s see how the score card looks for the 2821-piece set.
374 Coins (13.3%) - PCGS POP 1/0, Sole Finest, highlighting the amazing 1854-S $5, PCGS AU58+.
856 Coins (30.3%) - PCGS Tied for Finest Certified, highlighting 1795 $1 Draped Bust, MS66, POP 3/0.
464 Coins (16.4%) - PCGS Certified One Finer, highlighting the1873-CC 25C No Arrows, POP 1/1.
604 Coins (21.4%) - PCGS CC Top Five, highlighting the remarkable 1798/7 $10, 62, POP 3/4
519 Coins (18.4%) – Non PCGS Top Five. Highlighting two coins valued more than one million dollars:
.... 1927-D $20, MS63, PCGS POP 1/9, PCGS Value $1,850,000
.... 1794 $1, AU58+ PCGS POP 1/6, PCGS Value $1,100,000
This is an impressive set to be as large in size and scale as it is. I would value the 2821 piece set somewhere between $125M and $150M. The average coin is a modest $44K to $53K. Keep in my, this is only 2821 coins from a collection that John Brush indicated the size to be 12,000 PCGS pieces. But there more to this collection than price, there is also quality. Let’s take a quality look.
Top Graded Coins
.#1 - 1939-D 10C , MS69FB, PCGS POP 25/0
.#2 - 1849 “Open Wreath” G$1, MS69, PCGS POP 1/0
.#3 - 1858 G$1, MS69, PCGS POP 1/0
.#4 - 1892-S $1, MS68, PCGS POP 1/0
.#5 - 1901-S 25C, MS68+, PCGS POP 1/0
In this 1964 and before set, the finest graded coins in the collection are three MS69. Two are One Dollar Gold pieces and the third is a MS69FB dime. I have listed as #4 and #5 a couple of my favorite MS68 specimens. One that I did not place on the list was the 1938-S MS68+FB Dime that is PCGS valued at $375,000. There are 242 MS68 coins in this set which could be on this top five list. There are some that are graded MS68+, some with FB, with RD, and FS. The set is not top heavy as some large collections are. There are more than 2800 coins between these five top coins and the five below. There is no doubt that there are great coins from top to bottom. Let’s take a look at the bottom five.
Bottom Graded Coins
.#2817 - 1853-O “No Arrows” 50C, VF35, PCGS POP 1/0, (Finest Kown)
.#2818 - 1847-O $5, VF25 CAC, PCGS POP 4/41
.#2819 - 1802/0 1/2C, VF20BN CAC, PCGS POP 9/22
.#2820 - 1823/2 25C, G4, PCGS POP 3/16 , Replaced w/ AU55 PCGS POP 1/2
.#2821 - 1933 $10, N1 (No Grade)
The coin I place at the bottom is a beautiful 1933 eagle. The problem with coin is the lady’s cheek looks too good. Hansen purchased this coin in a 2019 auction at a cost of about $300,000. The 1853-0 is at the bottom of the set, but the VF35 is the finest known specimen. As the set improves, this coin could end up being the lowest graded coin. The 1847-O half eagle and 1802/0 half cent are prime candidates for the next round of upgrades. For now, replacing the 1823/2 25C, G4, was a great accomplishment. Let’s take a look at the coin.
“If a collector were asked to name the four rarest American silver coins, he would, I am sure, naming them in the order of their denominations, say: the 1804 dollar, 1823 quarter, 1827 quarter, and 1802 half dime.” — Harold P. Newlin, 1883
Lots of things have changed in the past 140 years. These four coins are still considered rare today, but a true discussion would have to add the ultra-rare 1870-S half dime and the 1873-CC No Arrows Dime. Denis Loring CoinFacts comments: According to Steve Tompkins' recent reference, 31 examples of this famous rarity are known. I'd guess there are a few low-grade ones yet to be discovered. The finest seen is a gem Proof with a pedigree tracing all the way back to Levick. Two Mint States are next, followed by two AU's (one from Norweb) and four XF's, including Eliasberg. More than half of the known specimen's grade VG or lower. Steve Tompkins specially refers to the Norweb specimen as an AU. The Dr. Charles Link specimen was once MS61 NGC when sold in the Eugene H. Gardner sale. In Dr. Link’s comment on his coin he states: Finest Known and only uncirculated circulation strike of the 31 known specimens.. PCGS has graded the coin AU58+ which cannot get any closer to a mint state. I believe Dr. Link, and I would agree that his borderline MS is the finest mint state and nearest coin that we will find to uncirculated circulation strike.
PCGS CoinFacts gives the survival estimate to be 33 in all grades with two coins grading mint state MS60 or better. There are no present-day mint state certified specimens. PCGS has certified 19 specimens with three graded AU, one AU55, one AU58 and finest known AU58+. NGC total population is only six. Of the six, three are AU certified, two AU50 and one graded AU58. I am able to identify five of the six but was not able to identify the AU58 NGC. Either it is completely off the grid, or it is a duplicate. I created a roster of what I have found to be the top five about uncirculated examples of the 1823/2 Capped Bust Quarters.
My Roster of Significant 1823/2 Capped Bust Quarters (Mint State) by Currin
1. Bland / Gardner / Link Specimen, AU58+, PCGS Cert #25207750. - Harlan Page Smith (S.H. and H. Chapman, 6/1906), lot 775, Realized $360; S.H. & H. Chapman sold privately; Virgil Brand Collection (Journal # 33225); Hollinbeck-Kagin (11/1973), lot 1140; Summit Rare Coins sold privately; Chris Napolitano, sold privately in 7/2005; Eugene H. Gardner Collection, Part II / US Coins Signature Auction, (Heritage 10/2014 as MS61 NGC, CAC), lot 98346, realized $188,000; Dr. Charles Link PCGS Registry Collection
2. Norweb-Pogue Specimen, AU58 PCGS Cert #12136338. - An unknown Massachusetts collection; Charles J. Dupont and Charles Anderson of Worcester, Massachusetts; Anderson-Dupont Collection, (Stacks 11/1954), lot 1798; Mrs. Emery May Norweb Collection; Norweb Collection, Part II, (Bowers & Merena 3/1988 as Raw AU50), lot 1538, realized $28,600; Fred Matthews Collection; The Chris Schenkel Collection, Bowers and Merena, 11/1990), lot 1432; Unknown intermediaries; Charlton “Swampy” Meyers Collection, via Sheridan Downey; D. Brent Pogue Collection, Part I, (Stack’s/Bowers & Sotheby’s 5/2015) lot 1072, realized $246,750.
3. Benson / Elwood / Hansen Specimen, AU55 PCGS Cert #04664906, - Probably B.G. Johnson and Virgil Brand; C. David Pierce Collection / 1947 ANA Convention Auction (Numismatic Galleries, 8/1947), lot 914; Edgar Levy Collection; Edgar Levy Collection, (Abe Kossoff, 5/1955), lot 16; Benson Collection; Benson Collection, Part II, (Ira & Larry Goldberg, 2/2002), lot 694, realized $56,350; ANA auction, (Superior Galleries, 8/2002), lot 860, realized $46,000; Steve Elwood; Jim McGuigan, sold at the 2003 FUN show; Regency Auction 54, (Legend Auctions, 9/2022), lot 93, realized $146,875; Eye Appealing Coins; Eye Appealing Coins; Purchased in Private Transaction by David Lawrence Rare Coins (12/2022) for The D.L. Hansen Collection.
4. Boyd / Eliasberg Specimen, AU50 NGC Cert # 3031943-002. - F.C.C. Boyd; "World's Greatest Collection" (Boyd), (Numismatic Gallery, 3/1945), lot 82; Louis E. Eliasberg, Sr.; The Louis E. Eliasberg, Sr. Collection, Part II, (Bowers and Merena 4/1997 as Raw AU50), lot 1386, realized $27,500; unknown; Denis Loring, August 2007; Rarities Night / ANA Auction, (Heritage , 8/2021), lot 4062, realized $96,000.
5. Allison Park Specimen, AU50 NGC Cert #Unknown - The Allison Park Collection, (American Numismatic, 8/2004), lot 341, realized $69,000.
The Hansen AU55 specimen is squarely in the middle of the condition census top five. The coin can be traced back to the early years in the B.G. Johnson and Virgil Brand Collections. In 2002, Ira & Larry Goldberg Coins & Collectible handled the coin in the sale of the Benson Collection. In Sale 13, Lot 694, the coin was graded PCGS AU-55 and cataloged as: This is certainly one of the very finest known of this supremely rare date, high in the Condition Census of the top six specimens all behind the single Proof example known. The strike is extremely sharp, and this is an early die state before the crack appears right of the date up to the center dot on Liberty, as seen on a few lower grade examples, which no doubt account for the rarity of this date. Perhaps 20 are known in all grades. Breen, in his Encyclopedia, individually lists 13 examples, with just 3 that can be called EF or better. Reviewing the PCGS and NGC Population reports seems to indicate that several are known, PCGS notes 2 in AU-55, and one in AU-58, none in Mint State above while NGC shows 1 as AU-55, 1 as AU-58 and 1 as MS-61, and the sole Proof as PF-64. With the cluster of high grade specimens reported, we suspect that there may be some duplication in the two reports, and a days study with a good coin auction library would certainly nail down the number of high grade examples known once some plate matching is done from prior auction sales. Toned a deep blue gray color, with moderate handling marks on both sides from very brief circulation. Identifiable by a small cluster of microscopic scrapes below Liberty's ear, and a few ticks between stars nine and ten, and some faint parallel scrapes above the Y of LIBERTY in the folds of the cap. On the reverse, we note some tiny marks below the wings of the eagle near the juncture with his body. Currently in PCGS holder #4664906. An extreme rarity in any grade, and especially this nice. Better than the recent sale of the Eliasberg example, this coin should have a higher technical grade, with less wear on the high points. A foremost opportunity for the Bust quarter specialist, and a date which has been offered a couple of times in the past six years.
More than 20 years later, the coin appeared in Legend’s Regency Auction 54 sale. The Legend cataloger called the coin a rarity and explained why: Legend Rare Coin Auctions is honored to offer one of the greatest rarities of the Capped Bust quarter series, the 1823/2 quarter. Depending on which census you consult, this coin is either the 3rd or 4th finest known from an entire known population of 30 or 31 examples. Mint records from the year show 1,800 delivered on February 3, 1823 and an additional 16,000 were delivered on December 31. Scholars in the series believe that the actual mintage of 1823 quarters were those delivered in February, and since no records show a mintage of quarters in 1824, it is thought the 1824 examples were minted late in 1823, and none were struck in 1824. Since the quarter denomination had been sporadically produced, and in smaller numbers than the half dollars, the 1,800 mintage of 1823 quarters went into circulation and remained there for ages. The entire 1823 mintage was produced from a single pair of dies, the obverse left over from 1822 and a 3 was punched over the final 2. The Browning-1 die marriage, with 30-31 known in all, this is an extremely RARE and important Rarity-6+ die marriage, missing from most collections of early quarters. The average survivor is apt to be heavily worn and/or damaged in some way. Coins graded VF or XF are eagerly sought by serious collectors of means, and precious few survive in high grade. Behind the Proof 64, an AU58+, and an AU58, comes the presently offered PCGS AU55, and housed in the same old green tag holder it was in when it made its first modern auction appearance as part of the Benson Collection in February 2002. It has been in the same collection since January 2003, and thus is totally fresh to the numismatic market!
The Legend cataloger continued by describing the appearance of the coin as: The surfaces are distinctly Prooflike, as to be expected of a die pair that was also used to strike a Proof example. Being high grade, the minimal amount of circulation failed to take off that delicate finish from the fields. Both sides are deeply and attractively toned in a deep blue-gray patina with iridescent olive, rose, russet, and dark golden-brown accents that come out when rotated in a light. The details show full and crisp definition, with barely any perceptible wear of any kind. In comparing the photos of the AU58 and AU58+, the reverse definition on this AU55 is fuller and shows more complete detail on the eagle's wing feathers. (Indeed, the cataloger of the 2002 Superior ANA Auction specifically noted that this coin was "finer than the R. Henry Norweb specimen" which ended up in the D. Brent Pogue Collection as PCGS AU58). When you look closely at the surfaces of both sides, you will see some minor traces of contact, which are noted for accuracy and will serve as pedigree markers on this very CHOICE AU example. The eye appeal is incredible for the date, which often times does not "come nice."
As Legend’s described, this is a very nice choice AU example. Replacing the existing PCGS G4 specimen was certainly a nice improvement in the core collection. If Mr. Hansen decides to keep, the G4 will make a nice addition to his #2 Set.
This set is described by PCGS as: The Barber quarter series contains a plethora of rarities, as 28 different dates have a population of ten or less in MS65 or better condition! The set also contains the lowest mintage regular issue silver coin of the 20th century, the 1913-S. The challenge of this series is legendary, but many collectors have chosen to tackle it over the years, with rewarding results. There are no major varieties for this set.
The basic set required 74 coins. The D. L. Hansen Collection started this set on 6/8/2017 with 72 coins originally. The original ranking was #6 all-time with a GPA w/ bonus of 65.262. On 6/23/2017, a coin was added to bring the set up to 98.65% completed and GPA w/ bonuses of 65.278. Less than two months later, on 8/10/2017, the final coin needed was added and four others were upgraded. The first GPA w/ bonus for a complete set was 65.346. Presently, more than five years after completion, the set has gone through countless upgrades and 128 revisions. In late February 2018, there were 28 upgrades. This was closely after the retirement and sale of the Perfection quarters. They were not sold to D.L. Hansen. The current GPA w/ bonus has improved to 67.20.
As reported on Hansen watch in 2018, Mr. Perfection stated: Someone else has the MS quarters. This person had all the top examples CAC that I did not. So he made one set that will never be equaled. It was sad to see them go after so many years. It was very difficult to improve both sets using All CAC coins so I decided to move on. I am still buying gem coins. We now know, the coins were sold to a client of Laura Sperber, Legend Rare Coins. The set is named RSD. In a May 2022 Legend Market Report, Laura provided a very nice tribute to this collector by publishing:
A HEART FELT CONGRATS TO OUR CUSTOMER RSD
Legend Numismatics is proud to announce the creation of the RSD Collection of MS Barber Quarters. This is not just any set-it is by far the FINEST that can EVER be built! The set is now posted on the PCGS Registry (#1 all time of course-a full 1.21 ahead of the #2 set) and it has a 68.30 rating. Of the 74 coins in the set a whopping 58 pieces are the finest graded or are tied for finest graded. Legend lives to build sets like this. We expect this set to be eventually be designated HOF. Our long time friend and customer RSD started collecting coins in earnest when he was in his 20’s and started working his way up the ladder in his families company. In his early 30’s he was able to really dive into coins. He is a very quick study and realized 100% PCGS CAC are the ONLY coins he should buy. Sadly, this was inspired by his late grandfather who also loved coins, but had been ripped of by a few dealers and auction houses back in the 70’s+80’s. RSD fully understands the game and what it takes to create a real #1 set. We’re grateful RSD still had the passion. Everyone asks will there be new blood in coins? RSD defines the new younger breed of super collectors. We worked as a team to build the Quarter set.
Collectors like him allow us to build our numismatic fantasies too. It started slow with the purchase of the Eliasberg 25C 1893O PCGS MS67+ GOLD CAC as a type coin and then when he realized it was a set he wanted to do-he never looked back. If the finest coins were for sale and we liked them our orders were simple-buy them. We proudly bough the 1898O PCGS MS68+ and the 25C 1904O PCGS MS67+ early on. Then he stepped up and bought this favorite coin, the James Stack/Gardner 25C 1901S PCGS MS67+CAC. We got to point where we had stalled out. Luckily Legend had been speaking to Perfection (who is one of the great collectors of today with all his #1 PCGS CAC Sets) and he knew he could not take his MS Barber Quarters any further. Within days, we negotiated the purchase of his set. Adding the remarkable coins RSD had, created what is now by far the BEST EVER MS Barber Quarter set. Congratulations to our good friend RSD! RSD is far from done, he will always be in the hunt to upgrade with PCGS CAC coins. Other sets he has-wild Morgan toners, and he has a complete toned Morgan CC set in MS64+ and better (yes, his 93CC is MS65 and is toned). Time will tell what his next big project will be. Until then, he loves to bring the coins to us, lay them all out on our conference room table and just shake his head and say I can’t believe we did this! That is refreshing to us.
This is a nice testimony to where the coin collection community is today. The #2 All-Time set is the retired Mr. Perfection set. As Laura stated, and I agree, there is no chance on the D.L. Hansen Collection catching the RSD set unless it comes to market. With Laura describing him as a “new younger breed of super collector”, it is doubtful that will be anytime soon. Although, it appears Mr. Hansen may have a shot at tracking down the #2 retired set of Mr. Perfection.
1892-O Barber Quarters, MS67, Ex: Duckor / Pogue
Ron Guth describes this coin as: The 1892-O Barber Quarter Dollar is in the middle of the pack in terms of mintage and overall rarity, and is in the lower half in terms of rarity in Mint State. This means that collectors should be able to obtain a high-grade example of this date with relative ease. Most Mint State 1892-O Barber Quarters cluster around the MS-62 to MS-64 grades, with MS-63 being the most common by a slight edge. MS-65 examples are scarce, but available. MS-66 and better examples are very rare, dropping to a mere three examples graded by PCGS in MS-67. The overall strike is good for a New Orleans Mint product, but still short of the well-made Philadelphia Mint issues. Some collectors pay attention to the placement of the mintmark on the back of Barber Quarters, partly out of interest, and partly as an aid in authentication. In 1892, mint engravers placed the mintmark over the R of QUARTER, unlike the placement on all subsequent years, when the mintmark appears over either the D of DOLLAR or between the R and D (the same is true for the 1892-S Quarter). Why the change was made is unclear, as the placement on the 1892-O and 1892-S Quarters centers the mintmark perfectly beneath the eagle's tail. Since Ron wrote this description, PCGS now show five MS67 in the population report and one MS67+. I cannot verify, but I would assume this sole finest is in the RSD set.
This new Hansen MS67 coin was attributed in The D. Brent Pogue Collection Part VII sale as Type I Reverse. Repunched Mintmark. In a detail Stacks Bowers description, the cataloger wrote: The first New Orleans Mint issue in the Barber quarter series, the 1892-O was saved in significant numbers at the time of delivery and has long been popular for mintmarked type purposes. On the other hand, survivors are far scarcer than those of the 1892, and in the finest Mint State grades the 1892-O is a formidable condition rarity. The Pogue specimen of the Type I Reverse hub is an example of an unlisted RPM variety, the O mintmark lightly repunched along its right side. Close inspection of the obverse reveals a curious peanut-shaped die chip at the lower corner of the neck, as well as an elongated die chip at the top edge of the cap, just below the letter G in GOD. Interestingly, we are aware of several other high grade 1892-O quarters struck from these dies that have been certified by PCGS, including a MS-67+, a second MS-67, and MS-65+. It appears that a mini-hoard from these dies existed at one time, the coins handled with the utmost care by their previous owners.
The coin was described in the Pogue sale: Here is a richly original, extremely appealing 1892-O quarter, displaying warm blend of reddish-russet, antique copper, silver-olive and golden-gray patina on both sides. The luster is full and frosty, and the strike is razor sharp from the rims to the centers. Expertly preserved and bordering on pristine, it is little wonder that this coin ranks among the finest examples of the issue known to PCGS.
More recently, the coin was offered in Legend’s Regency 48 Auction in October 2021. The Legend cataloger described as: One of the greatest 1892-O Barber quarters that survives, with one of the greatest pedigrees of all time, Duckor-Pogue! That this SUPERB GEM graced both those world class cabinets tells you all you need to know about the quality and eye appeal of this beautiful GEM. This coin features the Type 1 Reverse with the repunched mintmark, unlisted in the literature. Both sides are richly toned, exceptionally well preserved, essentially pristine and totally original. A lovely blend of earthy-autumnal hues of olive, russet, orange, gold, and antique silver-gray adorn obverse and reverse, deeper at the rims and lighter in the centers. Sharply struck devices stand out against the satiny brilliant fields. The eye appeal is excellent in every way.
In January 2023, the coin was offered on eBay by JG Numismatics with ask price of $16,500. “This listing was ended by the seller because the item is no longer available”, per eBay information. It was purchased through David Lawrence Rare Coins. The coin replaces 1892-O MS66 Cert #34533562 with PCGS POP 17/13. Therefor, it replaces one of Hansen’s Non-Condition Census specimens in his core collection.
Provenance: The Steven Duckor Collection of Barber Quarters / CA Signature Auction (Heritage 8/2009), lot 1089, realized $12,650; The D. Brent Pogue Collection Part VII, (Stacks Bowers, 3/2020), lot 7068, realized $10,800; The Regency Auction 48, (Legend Auctions 10/2021), lot 365, realized $14,687.50; Purchased in Private Transaction by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
U.S. Coins Complete Basic Set, Circulation Strikes (1792-1964)
This update rekindles some fond memories. In the early days of the Hansen Collection and Hansen watch, there was a lot of focused placed on the U.S. Coins Complete Basic Set, Circulation Strikes (1792-1964). This was the core set of the core collection. The 2821-piece set is complete except for two coins. There has been a realization of late, that this set may never be 100%. The two missing coins are a pair of half eagles. The 1822 dated half eagle is required for this registry set. The only 1822 Half Eagle available to collectors is from the D. Brent Pogue Collection. The coin sold in a Stacks Bowers March 2021 Auction realizing $8,400,000. Dell Loy Hansen was one of the under bidders. This coin will be remembered as the first big missed for the Dell Loy Hansen. Some people do not agree, but I believed that it forever changed the course of this collection.
The other missing coin is the 1798 “Small Eagle” half eagle. The coin is called one of the famed rarities of the series, but it is obtainable with patience. The Harry Bass specimen will appear in auction in a few months. Is this a coin that the Hansen Team will try to acquire? I think so, but over the past few years, I believe the Hansen philosophy has matured. In today’s term, I don’t think he sees any coin as must have. This really makes opportunities and auctions unpredictable. What he is working on, is to make his coins the finest possible. Let’s see how the score card looks for the 2821-piece set.
374 Coins (13.3%) - PCGS POP 1/0, Sole Finest, highlighting the amazing 1854-S $5, PCGS AU58+.
856 Coins (30.3%) - PCGS Tied for Finest Certified, highlighting 1795 $1 Draped Bust, MS66, POP 3/0.
464 Coins (16.4%) - PCGS Certified One Finer, highlighting the1873-CC 25C No Arrows, POP 1/1.
604 Coins (21.4%) - PCGS CC Top Five, highlighting the remarkable 1798/7 $10, 62, POP 3/4
519 Coins (18.4%) – Non PCGS Top Five. Highlighting two coins valued more than one million dollars:
.... 1927-D $20, MS63, PCGS POP 1/9, PCGS Value $1,850,000
.... 1794 $1, AU58+ PCGS POP 1/6, PCGS Value $1,100,000
This is an impressive set to be as large in size and scale as it is. I would value the 2821 piece set somewhere between $125M and $150M. The average coin is a modest $44K to $53K. Keep in my, this is only 2821 coins from a collection that John Brush indicated the size to be 12,000 PCGS pieces. But there more to this collection than price, there is also quality. Let’s take a quality look.
Top Graded Coins
.#1 - 1939-D 10C , MS69FB, PCGS POP 25/0
.#2 - 1849 “Open Wreath” G$1, MS69, PCGS POP 1/0
.#3 - 1858 G$1, MS69, PCGS POP 1/0
.#4 - 1892-S $1, MS68, PCGS POP 1/0
.#5 - 1901-S 25C, MS68+, PCGS POP 1/0
In this 1964 and before set, the finest graded coins in the collection are three MS69. Two are One Dollar Gold pieces and the third is a MS69FB dime. I have listed as #4 and #5 a couple of my favorite MS68 specimens. One that I did not place on the list was the 1938-S MS68+FB Dime that is PCGS valued at $375,000. There are 242 MS68 coins in this set which could be on this top five list. There are some that are graded MS68+, some with FB, with RD, and FS. The set is not top heavy as some large collections are. There are more than 2800 coins between these five top coins and the five below. There is no doubt that there are great coins from top to bottom. Let’s take a look at the bottom five.
Bottom Graded Coins
.#2817 - 1853-O “No Arrows” 50C, VF35, PCGS POP 1/0, (Finest Kown)
.#2818 - 1847-O $5, VF25 CAC, PCGS POP 4/41
.#2819 - 1802/0 1/2C, VF20BN CAC, PCGS POP 9/22
.#2820 - 1823/2 25C, G4, PCGS POP 3/16 , Replaced w/ AU55 PCGS POP 1/2
.#2821 - 1933 $10, N1 (No Grade)
The coin I place at the bottom is a beautiful 1933 eagle. The problem with coin is the lady’s cheek looks too good. Hansen purchased this coin in a 2019 auction at a cost of about $300,000. The 1853-0 is at the bottom of the set, but the VF35 is the finest known specimen. As the set improves, this coin could end up being the lowest graded coin. The 1847-O half eagle and 1802/0 half cent are prime candidates for the next round of upgrades. For now, replacing the 1823/2 25C, G4, was a great accomplishment. Let’s take a look at the coin.
“If a collector were asked to name the four rarest American silver coins, he would, I am sure, naming them in the order of their denominations, say: the 1804 dollar, 1823 quarter, 1827 quarter, and 1802 half dime.” — Harold P. Newlin, 1883
Lots of things have changed in the past 140 years. These four coins are still considered rare today, but a true discussion would have to add the ultra-rare 1870-S half dime and the 1873-CC No Arrows Dime. Denis Loring CoinFacts comments: According to Steve Tompkins' recent reference, 31 examples of this famous rarity are known. I'd guess there are a few low-grade ones yet to be discovered. The finest seen is a gem Proof with a pedigree tracing all the way back to Levick. Two Mint States are next, followed by two AU's (one from Norweb) and four XF's, including Eliasberg. More than half of the known specimen's grade VG or lower. Steve Tompkins specially refers to the Norweb specimen as an AU. The Dr. Charles Link specimen was once MS61 NGC when sold in the Eugene H. Gardner sale. In Dr. Link’s comment on his coin he states: Finest Known and only uncirculated circulation strike of the 31 known specimens.. PCGS has graded the coin AU58+ which cannot get any closer to a mint state. I believe Dr. Link, and I would agree that his borderline MS is the finest mint state and nearest coin that we will find to uncirculated circulation strike.
PCGS CoinFacts gives the survival estimate to be 33 in all grades with two coins grading mint state MS60 or better. There are no present-day mint state certified specimens. PCGS has certified 19 specimens with three graded AU, one AU55, one AU58 and finest known AU58+. NGC total population is only six. Of the six, three are AU certified, two AU50 and one graded AU58. I am able to identify five of the six but was not able to identify the AU58 NGC. Either it is completely off the grid, or it is a duplicate. I created a roster of what I have found to be the top five about uncirculated examples of the 1823/2 Capped Bust Quarters.
My Roster of Significant 1823/2 Capped Bust Quarters (Mint State) by Currin
1. Bland / Gardner / Link Specimen, AU58+, PCGS Cert #25207750. - Harlan Page Smith (S.H. and H. Chapman, 6/1906), lot 775, Realized $360; S.H. & H. Chapman sold privately; Virgil Brand Collection (Journal # 33225); Hollinbeck-Kagin (11/1973), lot 1140; Summit Rare Coins sold privately; Chris Napolitano, sold privately in 7/2005; Eugene H. Gardner Collection, Part II / US Coins Signature Auction, (Heritage 10/2014 as MS61 NGC, CAC), lot 98346, realized $188,000; Dr. Charles Link PCGS Registry Collection
2. Norweb-Pogue Specimen, AU58 PCGS Cert #12136338. - An unknown Massachusetts collection; Charles J. Dupont and Charles Anderson of Worcester, Massachusetts; Anderson-Dupont Collection, (Stacks 11/1954), lot 1798; Mrs. Emery May Norweb Collection; Norweb Collection, Part II, (Bowers & Merena 3/1988 as Raw AU50), lot 1538, realized $28,600; Fred Matthews Collection; The Chris Schenkel Collection, Bowers and Merena, 11/1990), lot 1432; Unknown intermediaries; Charlton “Swampy” Meyers Collection, via Sheridan Downey; D. Brent Pogue Collection, Part I, (Stack’s/Bowers & Sotheby’s 5/2015) lot 1072, realized $246,750.
3. Benson / Elwood / Hansen Specimen, AU55 PCGS Cert #04664906, - Probably B.G. Johnson and Virgil Brand; C. David Pierce Collection / 1947 ANA Convention Auction (Numismatic Galleries, 8/1947), lot 914; Edgar Levy Collection; Edgar Levy Collection, (Abe Kossoff, 5/1955), lot 16; Benson Collection; Benson Collection, Part II, (Ira & Larry Goldberg, 2/2002), lot 694, realized $56,350; ANA auction, (Superior Galleries, 8/2002), lot 860, realized $46,000; Steve Elwood; Jim McGuigan, sold at the 2003 FUN show; Regency Auction 54, (Legend Auctions, 9/2022), lot 93, realized $146,875; Purchased in Private Transaction by David Lawrence Rare Coins (12/2022) for The D.L. Hansen Collection.
4. Boyd / Eliasberg Specimen, AU50 NGC Cert # 3031943-002. - F.C.C. Boyd; "World's Greatest Collection" (Boyd), (Numismatic Gallery, 3/1945), lot 82; Louis E. Eliasberg, Sr.; The Louis E. Eliasberg, Sr. Collection, Part II, (Bowers and Merena 4/1997 as Raw AU50), lot 1386, realized $27,500; unknown; Denis Loring, August 2007; Rarities Night / ANA Auction, (Heritage , 8/2021), lot 4062, realized $96,000.
5. Allison Park Specimen, AU50 NGC Cert #Unknown - The Allison Park Collection, (American Numismatic, 8/2004), lot 341, realized $69,000.
The Hansen AU55 specimen is squarely in the middle of the condition census top five. The coin can be traced back to the early years in the B.G. Johnson and Virgil Brand Collections. In 2002, Ira & Larry Goldberg Coins & Collectible handled the coin in the sale of the Benson Collection. In Sale 13, Lot 694, the coin was graded PCGS AU-55 and cataloged as: This is certainly one of the very finest known of this supremely rare date, high in the Condition Census of the top six specimens all behind the single Proof example known. The strike is extremely sharp, and this is an early die state before the crack appears right of the date up to the center dot on Liberty, as seen on a few lower grade examples, which no doubt account for the rarity of this date. Perhaps 20 are known in all grades. Breen, in his Encyclopedia, individually lists 13 examples, with just 3 that can be called EF or better. Reviewing the PCGS and NGC Population reports seems to indicate that several are known, PCGS notes 2 in AU-55, and one in AU-58, none in Mint State above while NGC shows 1 as AU-55, 1 as AU-58 and 1 as MS-61, and the sole Proof as PF-64. With the cluster of high grade specimens reported, we suspect that there may be some duplication in the two reports, and a days study with a good coin auction library would certainly nail down the number of high grade examples known once some plate matching is done from prior auction sales. Toned a deep blue gray color, with moderate handling marks on both sides from very brief circulation. Identifiable by a small cluster of microscopic scrapes below Liberty's ear, and a few ticks between stars nine and ten, and some faint parallel scrapes above the Y of LIBERTY in the folds of the cap. On the reverse, we note some tiny marks below the wings of the eagle near the juncture with his body. Currently in PCGS holder #4664906. An extreme rarity in any grade, and especially this nice. Better than the recent sale of the Eliasberg example, this coin should have a higher technical grade, with less wear on the high points. A foremost opportunity for the Bust quarter specialist, and a date which has been offered a couple of times in the past six years.
More than 20 years later, the coin appeared in Legend’s Regency Auction 54 sale. The Legend cataloger called the coin a rarity and explained why: Legend Rare Coin Auctions is honored to offer one of the greatest rarities of the Capped Bust quarter series, the 1823/2 quarter. Depending on which census you consult, this coin is either the 3rd or 4th finest known from an entire known population of 30 or 31 examples. Mint records from the year show 1,800 delivered on February 3, 1823 and an additional 16,000 were delivered on December 31. Scholars in the series believe that the actual mintage of 1823 quarters were those delivered in February, and since no records show a mintage of quarters in 1824, it is thought the 1824 examples were minted late in 1823, and none were struck in 1824. Since the quarter denomination had been sporadically produced, and in smaller numbers than the half dollars, the 1,800 mintage of 1823 quarters went into circulation and remained there for ages. The entire 1823 mintage was produced from a single pair of dies, the obverse left over from 1822 and a 3 was punched over the final 2. The Browning-1 die marriage, with 30-31 known in all, this is an extremely RARE and important Rarity-6+ die marriage, missing from most collections of early quarters. The average survivor is apt to be heavily worn and/or damaged in some way. Coins graded VF or XF are eagerly sought by serious collectors of means, and precious few survive in high grade. Behind the Proof 64, an AU58+, and an AU58, comes the presently offered PCGS AU55, and housed in the same old green tag holder it was in when it made its first modern auction appearance as part of the Benson Collection in February 2002. It has been in the same collection since January 2003, and thus is totally fresh to the numismatic market!
The Legend cataloger continued by describing the appearance of the coin as: The surfaces are distinctly Prooflike, as to be expected of a die pair that was also used to strike a Proof example. Being high grade, the minimal amount of circulation failed to take off that delicate finish from the fields. Both sides are deeply and attractively toned in a deep blue-gray patina with iridescent olive, rose, russet, and dark golden-brown accents that come out when rotated in a light. The details show full and crisp definition, with barely any perceptible wear of any kind. In comparing the photos of the AU58 and AU58+, the reverse definition on this AU55 is fuller and shows more complete detail on the eagle's wing feathers. (Indeed, the cataloger of the 2002 Superior ANA Auction specifically noted that this coin was "finer than the R. Henry Norweb specimen" which ended up in the D. Brent Pogue Collection as PCGS AU58). When you look closely at the surfaces of both sides, you will see some minor traces of contact, which are noted for accuracy and will serve as pedigree markers on this very CHOICE AU example. The eye appeal is incredible for the date, which often times does not "come nice."
As Legend’s described, this is a very nice choice AU example. Replacing the existing PCGS G4 specimen was certainly a nice improvement in the core collection. If Mr. Hansen decides to keep, the G4 will make a nice addition to his #2 Set.
This 49-piece set is described by PCGS as: The mintage figures for the $2½ Liberty Proofs jumped dramatically in 1859, with 80 pieces struck (if the Mint records are correct). That doesn’t mean that this date (and many others as well) is lacking in rarity, as just a few examples are known of some of the coins. Key issues include the Proof-only 1863, the classic 1875 and many other dates. Some of the issues come with magnificent cameo contrast and a few have been preserved in superb condition. The D.L. Hansen set has both the key issues listed here. The Proof-only 1863 is the finest PCGS certified PR66+ DCAM. The provenance of the coin is unknown. It appear to me the coin was purchased by Dell Loy Hansen about 4-5 years ago in a private transaction. The only hint that I have was from @earlyAurum (June 21, 2018): I think he also has a $2.5 1863 in PR66+ CAC which is unbelievably gorgeous. It was for sale on DLRC a few months back. The coin has a PCGS value of $350,000.
The second key coin mentioned in the PCGS description is the classic 1875. The Hansen specimen is a PR65+ DCAM PCGS POP 2/2, which is a solid top five in the condition census report. I featured this coin in 2019 and wrote: The coin certainly fulfills its billing of being spectacular. In Heritage 2019 Long Beach Expo Signature Auction, the coin’s header description read: 1875 Liberty Quarter Eagle, PR65+ Deep Cameo Example - Classic Gold Rarity, 20 Examples Struck. The coin last appeared in the Heritage 2011 FUN Signature Auction. The coin was 1875 Quarter Eagle, PR64 Cameo with a CAC sticker that sold for $47,293. The description from last week's auction: The 1875 quarter eagle is a legendary rarity in the 19th century U.S. gold series. Collectors interested in the Coronet series are well aware of this date's rarity, whether as a circulation strike or a proof. Only 400 business strikes were produced plus another 20 proofs. The coin has a PCGS value of $200,000.
These two key date coins are the most valuable pair in the set, although there are four or five other $100K+ coins including the amazing 1901 PR69DCAM, Cert #81345410. The coins was described in a Legend Regency Auction XVIII as: No question this magnificent piece was sent from numismatic heaven to this auction! LRCA is proud to have been consigned one of the greatest Proof $2.5 that exists! Sensational mirrors explode from all over. They possess intense clarity, cleanliness, and have a full booming reflection; we cannot imagine deeper mirrors! Both sides are untoned and have a killer deep cameo look. Miss Liberty and the details are thickly frosted and have full, razor sharp strikes. The eye appeal is mind boggling! It is also mind boggling that a coin struck in soft gold with such a delicate finish can survive 105 years in such an AMAZING state of preservation. In the entire Liberty Head Quarter Eagle proof series, only three coins have been PCGS certified PR69DCAM. There is one 1899 and two 1901. The coin has a PCGS value of $150,000.
These three coins represents the top three in the Hansen 49-piece set. If and when Mr. Hansen completes this set, he will have the all-time PCGS registry set. His current 46 core coins are 67.06 GPA with 71.74% DAM. The set is missing three coins: 1861, 1862 and 1874. The lowest graded coin the Hansen set is the 1867 PR58 which is a prime candidate for an upgrade. This will be a fun set to watch in 2023 to see if the Hansen Team can find the coins to complete the set.
The National Numismatic Collection in the Smithsonian current has the #1 PCGS all-time registry set for Liberty Head $2-1/2 Gold, Proofs. Two other great completed sets were assembled by Harry Bass and Ed Trompeter. According to the set registry, Louis Eliasberg was missing the 1886 proof in his set. The Eliasberg 1886 was a prooflike specimen that was sold by Bowers & Ruddy Oct '82 price realized $1,760. Lot #235.
1893 Liberty Head Quarter Eagle Proof, PR67DCAM, CAC
Among the TOP survivors of the issue, and everything about this impressive SUPERB GEM captivates the viewer, making it near impossible to put down! Legend Rare Coin Auctions (1/25/2018)
In a 2022 Hertiage Central States US Coins Auction, the cataloger described the rarity as: The 1893 quarter eagle proof mintage was 106 pieces, and slightly more than half of the proofs survive today. However, only one Deep Cameo Superb Gem coin exceeds this glittering, deeply contrasted example at PCGS. The present CAC-endorsed example displays essentially flawless orange-gold surfaces, with glittering jet-black fields that backdrop smooth, frost-gold devices for spectacular contrast. In John Dannreuther's United States Proof Coins reference, this coin is ranked third in the list of significant examples (behind the Bob R. Simpson coin and a single PR68 Deep Cameo PCGS example). Only the most subtle differences exist among those top three proofs.
The D.L. Hansen CAC specimen is one of three or four finest certified quarter eagle proofs for the 1893 date. The coin realized $40,800 in a May 2022 Hertiage Auction. The coin is down from the auction record set in a 2018 Legend Rare Coin Auction when the coin realized $47,000. The coin was advertised as: Only a single PCGS PR68 DCAM is finer, and it has NEVER been sold in auction, making this the FINEST 1893 proof quarter eagle available today! If you are building a Proof Gold type set and are looking for a SUPERB GEM Liberty quarter eagle with mind boggling eye appeal, do not overlook the presently offered jewel!
The Legend cataloger described the appearance of the coin as: To start, the fields are very deeply mirrored and the reflection off the gorgeous orange peal surfaces do beam from all over. Rich unmolested orange-gold color is the epitome of originality. Ms. Liberty and the eagle are both fully frosted, and boast full, crisply struck devices that provide awesome contrast against the deeper mirrored fields. Under a strong glass we note ZERO post mintage defects, only a single mint made lint mark on the reverse.
The coin was purchase recently from Rare Coin Wholesalers. By an online search, the coin was offered as “JUST A SINGLE PR68DCAM GRADED HIGHER AT PCGS. CAC” with ask of $56,000. PCGS Price Guide currently values it at $51,000. This coin made for a nice upgrade to the Hansen Core Collection replacing a PR65DCAM Specimen.
Provenance: The Regency Auction XXV (Legend 1/2018), lot 266, realized $47,000 (Auction Record); Central States US Coins Signature Auction (Hertiage 5/2022), lot 3942, realized $40,800; Purchased in Private Transaction from Rare Coin Wholesalers (1/2023) for The D.L. Hansen Core Collection.
1893 Liberty Head Quarter Eagle Proof, PR67DCAM PCGS POP 3/1, CAC Approved Certification #83643518, PCGS #97919 PCGS Value Guide: $51,000 / Ask $56,000
It’s Raining Proof Three Dollar Gold, Part 1: 1854-63
An unprecedented number of Proof Three Dollar gold pieces has provided collectors with a bounty not seen since the late 1990s and early 2000s. By Doug Winter – RareGoldCoins.com, Published in CoinWeek, March 20, 2023
In this recent article, Mr. Winter continues by stating: Four important specialized sets of Proof Threes–owned by Tom Bender, the Harry Bass Foundation, Peter Huberman, and Bob Simpson–have given specialists an opportunity to bid on multiple examples of rare, low-mintage issues that haven’t been available in years. Many of these were of remarkable quality, and a number were the finest known or very close to it.
There is no questioning the fact that Dell Loy Hansen has used this opportunity to build a foundation to a high-quality set that can one day be in the conversation with the four important specialized sets mention by Mr. Winter. With this addition, the set is only four coins short of a full house of Proof Three Dollar Gold. There are still some additional Harry Bass coins to be sold in the next few weeks.
Mr. Winter continued his discussion by referencing several historic collections: Back in the late 1990s and early 2000s, there were a number of wide-ranging specialized Proof gold collections–including Pittman, Bass, and Childs–that hit the market one after the next. Some incredibly rare Proof issues in the half eagle, eagle, and double eagle denominations were suddenly available – some in multiples numbers. An issue like the 1868 eagle (to pick a random date/denomination) was offered twice (an NGC PR64 CAM and a PCGS PR65) in 1999. Since then, exactly two have appeared: one a PCGS PR60, the other a PCGS PR62. Around 2000, the “uncommon” seemed “common” when it came to Proof gold.
He continues by describing the current sales as: In 2023, we are seeing a similar situation on a more series-specific basis: Proof Threes. This “Throwdown of Threes” allows me to make some important observations on this series. In the following two-part article, I’ll discuss some of the coins which have sold thus far (we still have a few coins left from both the Bender and Bass collections) and put them into a context within the framework of this fascinating series. Please note that, due to time constraints, I won’t be discussing the common dates of this series.
This coin that we see today is one of those “Throwdown of Threes” and is mentioned in the article. The Simpson Specimen was sold AUG 22, 2022. At the time, it was described by Heritage Cataloger as: Eight to 10 Coins Extant, Sole Finest at PCGS. Since this sale, there has been the Harry Bass grading event that change the PCGS status of this coin and many others. The four remaining Proof Three Dollar Gold pieces need in the Hansen set is the 1857, 1858, 1871, and 1873.
It appears that Mr. Hansen skipped the last Bender Three Proof Sale that was held by Heritage Auction in February at Long Beach Expo. With missing this sale, can he still complete the Three Dollar Proofs in 2023? Not as confident as I was a few months ago. Even if not this year, then it will be interesting to watch to see if DL Hansen can complete the proof set in the near future. This will place the Hansen name in the record books with the likes of Bass, Bender, Garrett, Trompeter, Eliasberg, Huberman, Simpson and not to forget the Smithsonian National Numismatic Collection.
1861 Three Dollar Gold, PR65CAM, Ex: Rod Sweet / Simpson
Eight to 10 Coins Extant, Sole Finest at PCGS
The year 1861 was an important one in the three-dollar gold series, as Dave Bowers and Doug Winter explain in their 2005 series reference, The United States $3 Gold Pieces, 1854-1889. It was the last for which: " ... gold coins were paid out at face value by the Philadelphia Mint. After this time, $3 coins did not circulate at all in the East and Midwest. Small supplies were held by bullion dealers, banks, and exchange offices, and after December 28, 1861, could be bought by paying a premium in terms of paper money." Heritage Cataloger (8/2023). The Simpson PR65CAM specimen held the honor of "Sole Finest at PCGS" prior to the Bass grading event.
Expert David Akers wrote a few decades ago: The 1861 is possibly the most underrated three dollar gold piece in proof in the entire series. (A similar claim could be made for 1861 proofs of the other gold denominations as well.) The generally accepted proof mintage figure for this date is 113, but it is probable that, if 113 is the correct mintage, most of the pieces were subsequently melted. Probably less than ten proofs are known today, placing proofs of this date in the same rarity class as those of 1857 and 1858. PCGS CoinFacts gives the survival estimate to be 12 in all grades with one PR65 PCGS grade and two GEM CAMs. One is the Hansen/Simpson PR65CAM and the other the Harry Bass PR66CAM.
In Mr. Winter’s recent article, he wrote for the 1861 Three Dollar Proof:
As with the 1860, you can’t judge the rarity of this date by its original mintage. A total of 113 Proofs were struck but fewer than 10 are believed to survive today. The Bass coin is the numerically finest at PCGS, while the Simpson coin which was offered by Heritage in their 2022 ANA auction brought $132,000. It was graded PR65 CAM after having originally been graded PR66 by NGC.
Bass: PCGS PR66 CAM. Will be sold later this year. Should set a record for the date.
Bender: PCGS/CAC PR64+ CAM. While the Heritage images made this coin look very spotty, it was much nicer in person. I liked this coin very much and felt it was totally deserving of its “+” grade. I bid up to $50,000 but was unsuccessful, as the final price was a strong $78,000 including the buyer’s premium.
Huberman: Didn’t own a Proof.
I had thought Mr. Hansen and the DLRC team purchased the Simpson coin in the Heritage 2022 ANA Sale. After more than six months later, the registry was updated this week. What was the cause of the delay? Did someone else purchase the coin and it was purchased privately? Without updates from DLRC, we may never know. At the end of the day, the coin is now in the DL Hansen Collection.
Heritage Cataloger and Mr. Winter is in agreement of only 10 coins survived. David Akers thought it to be less than 10 and PCGS CoinFacts indicates 12. The Heritage Cataloger stated: A total of 5,959 circulation strikes and 113 three dollar gold proofs were manufactured in 1861. John Dannreuther explains that while the 1860 and 1861 claim similar proof mintages, "the number of extant coins is less for the 1861." He pegs the surviving population at just eight to 10 pieces. The reason for the massive discrepancy? Most of the mintage was melted as unsold in January 1862, with the outbreak of the Civil War having put "a damper on collecting" at that time.
It appears the Hansen/Simson coin is a solid condition census top three. It probably falls as CC#2 between the Bass Top Coin and the Bender Specimen with all three in recent grading events. The new Hansen coin is described in the auction as: The Bob R. Simpson specimen in PR65 Cameo certainly ranks among the finest known and may very well stand alone atop the Condition Census. It is the sole finest at PCGS, having been crossed over from a PR66 Cameo NGC holder. There are still two such grading events reported at that service, but they may represent a single coin (this one). Both sides exhibit profound depth of mirroring in the fields and frosty relief elements over light yellow-gold surfaces. A planchet void below the left side of the wreath bow serves as a pedigree marker.
Provenance: Ex: Rod Sweet Collection (Bowers and Merena, 10/2004 as PR66 NGC), lot 559, realized $57,500; Important Selections from The Bob R. Simpson Collection, Part IX / US Coins Signature Auction (Heritage, 8/2022 as PR65CAM PCGS), lot 1348, realized $132,000; D.L. Hansen Collection
1861 Three Dollar Gold, PR65CAM PCGS POP 1/1 Certification #44160843, PCGS #88024 PCGS Price Guide $155,000 / Realized $132,000 (8/2022) Ex: Sweet / Simpson
Historic Harry W. Bass Jr. Core Collection Part 3 (14 of 20)
RISE-LIKE-A-PHOENIX-FROM-THE-ASHES
To rise like a phoenix from the ashes means to emerge from a catastrophe stronger, smarter and more powerful. An example of rising like a phoenix from the ashes is someone who opens a new, successful business after his previous business has failed. - grammarist.com
Is it just me, or does the fiery phoenix resemble a golden eagle? This bird would make a fantastic coin. The reason I introduced the Hansen updates with the phoenix is because there has been a long break in significant purchases for Hansen Collection since the Historic Harry W. Bass Jr. Core Collection Part 2 sale and the Tom Bender Part II sale at the 2023 FUN US Coins Signature Auction in January. The pandemic and the uncertainly in coin prices have resulted in catastrophes from serval fronts. After tracking this Hansen Collection for more than five years, it appears to me it is extremely unusual to go four months without a significant update. In an unusual case, Dell Loy Hansen set out the third Tom Bender in February at Long Beach. I reached out to the collection curator, John Brush from David Lawrence Rare Coins to get some insight.
He was gracious to follow-up with some thoughts into the current conditions of the collection and environment. He wrote: Reason for adding very few coins (outside of a ton of moderns we added) is that we’re still trying to fill holes…and upgrades only when it makes sense. The market is strange right now. When people are offering coins, they are priced to the moon and the marketplace isn't supporting those values. So, we’re trying to be responsible and the upgrade opportunities and holes to fill are very few and far between. So it’s hard to find coins we need. The collection is far from dead right now. It’s just harder to find pieces that make sense!
The next to last sentence is certainly on-point that the collection is far from dead. The Hansen Team had a strong showing in the Harry W. Bass, Jr. Core Collection, Part III sale presented by Heritage Auctions in 2023 CSNS US Coins Signature sale. Before reviewing the Hansen purchases, let’s review the top five Bass Coins in this sale. In this third session of the sale highlighting the Signature Floor Session Platinum Night, The Harry W. Bass, Jr. Core Collection Part III was held featuring 122 coins. Two coins cracked the million-dollar mark with the top seller, the 1829 Capped Head Left Half Eagle, PR66+, Large Diameter, Large Date, BD-1, Only Two Proofs Known, Ex: Virgil Brand. The coin realized $2,880,000. The other million-dollar coin, the 1824/1 Capped Head Left Quarter Eagle, PR67, BD-1, JD-1, Only Dies for the Date, Only Proof in Private Hands, Ex: Seavey-Parmelee realized $1,740,000. There were two other coins that realized between $500K and $1 Million Dollars, the 1908 Ten Dollar Indian, PR65, Satin (Roman) Finish realizing $750,000 and the 1831 BD-1 Quarter Eagle, PR67 Cameo realizing $630,000. The next coin that rounded out the top five coins was the 1854 Quarter Eagle, PR64 Cameo realizing $480,000.
In raising from the ashes, the Hansen Team placed successful bids on seven coins. This purchase brings the total Bass coins acquired in the first three Bass sales to 20 coins realizing about $6.5 Million Dollars. In this sale, the team mostly focus on Bass Proofs by purchasing six coin. There was only one mint strike coin purchased, the 1827 Quarter Eagle, MS65 PCGS. This is one of the few upgrades that the Hansen Collection obtained. Five of the seven coins are gold proofs that fill holes in the collection. 1827 Quarter Eagle coin will be the first coin featured in this series.
1827 Quarter Eagle, BD-1, MS65 PCGS. Ex: Harry W. Bass
Reverse of 1825, Tied for the Finest Known
Expert David Akers wrote a few decades ago: Typically, this date is flatly struck on the head of Liberty, even more so than on the issues of 1824 and 1825. Choice specimens of this date are extremely rare, and are, in my experience, less available than for any other date of this type. The stars on the 1827, like those on the 1826, are much larger than the stars on the first three years of this type.
PCGS CoinFacts gives the survival estimate to be 50 in all grades. Of these coins, the estimate is that 18 can be found graded Mint state MS60 or better with an estimate only two GEM, MS65. This is incorrect (sort of) because in the Heritage Auctions listing for the Harry Bass sale, the cataloger identified three known MS65 specimens (including two PCGS and one NGC). The cataloger stated: Our census includes three pieces that are graded MS65 and tied for the finest known:
1. MS65 PCGS.- Superior Galleries, sold privately on 3/28/1978; Harry W. Bass, Jr. Foundation Collection. D.L. Hansen Core Collection
2. MS65 PCGS. - Hollinbeck Coin Company (Art and Paul Kagin), sold privately in 12/1951; Harold Bareford Collection (Stack's, 3/1985), lot 532; David Akers; D. Brent Pogue Collection, Part II (Stack's Bowers & Sotheby's, 9/2015), lot 2052, realized $152,750; High Desert Collection (PCGS Set Registry).
3. MS65 NGC. - ANA Signature (Heritage, 7/1988), lot 1943; FUN Signature (Heritage, 1/2007), lot 3395, not sold; Brooklyn Sale (Stack's, 3/2007), lot 1442, not sold; J.A. Sherman Collection (Stack's, 8/2007), lot 3080, realized $149,500; Baltimore Auction (Stack's Bowers, 6/2012), lot 4127, realized $94,000; HFW² Collection (Heritage, 1/2020), lot 4332, realized $96,000.
PCGS shows 17 grading events with 1827 Quarter Eagle Mint State Grades with seven lower graded (one MS61 and six MS62). Five coins have been graded choice MS63 and three MS64 (one with plus). The famous McCoy Family Collection and Oliver Jung Collection had MS64 PCGS specimens.
In the May 2023 sale of The Harry W. Bass, Jr. Core Collection, Part III US Coins Signature Auction, the cataloger wrote: In addition to those three Gem 1827 quarter eagles, we have records of 15 other lower Mint State grade coins, and 41 auction appearances of AU-level pieces that likely represent 20 to 30 different coins. The majority of surviving examples grade at least AU. PCGS and NGC have graded 67 examples in all grades including just seven coins that grade below AU50. In Early U.S. Gold Coin Varieties, A Study of Die States, 1795-1834, John W. Dannreuther estimates that 45 to 55 are known in all grades, an accurate survival, in our opinion.
The cataloger added: This 1827 quarter eagle represents one of the rare design types in American numismatics. Examples were struck bearing dates of 1821, 1824 over 1, 1825, 1826, and 1827. Seven die varieties are known including three of 1825 and one each of the other dates. Dannreuther estimates that between 279 and 340 examples survive for all seven varieties. Just two reverse dies were engraved for the total production of 17,042 coins.
In closing, Heritage described the coin as: This amazing Gem displays brilliant yellow-gold surfaces with frosty mint luster. The central design weakness is typical of most or all known examples. Lovely peripheral orange toning is noted in the protected areas of the obverse and adds to the visual appeal of this extraordinary quarter eagle.
The Bass Gem 1827 specimen replaces a PCGS AU55 that was purchased in a Heritage June 2017 Long Beach Expo US Coins Signature Auction. The coin realized $23,500. With the upgrade, the 12 piece Capped Bust $2-1/2 Gold Basic Set, Circulation Strikes (1808-1834) set has only four AU graded coins left. We could see more upgrades, if DLRC can obtain upgrades and still be “responsible” to the Hansen Collection. It appear to me this coin was a “very responsible” upgrade.
Provenance: Superior Galleries, sold privately on 3/28/1978 to Harry W. Bass, Jr.; The Harry W. Bass, Jr. Core Collection, Part III US Coins Signature Auction / Harry W. Bass, Jr. Foundation Collection, (Heritage 5/2023), lot 4509, realized $180,000, Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1827 Quarter Eagle, BD-1, MS65 PCGS PCGS POP 2/0 Certification #46092943, PCGS #45522 PCGS Price Guide $225,000 / Realized $180,000 Ex: Harry W. Bass, Jr.
Comments
If I looked at the correct one, then it has a coin missing from the set. This could just be a bookkeeping thing. Remember there are thousands of coins and hundreds of set. So having something get missed when updating might be expected to some extent.
Currently his Morgan dollar basic set is missing a coin (1891-O) but the same set with Major varieties (an additional 20 coins) is 100% complete with an 1891-O included.
https://www.pcgs.com/setregistry/dollars/morgan-dollars-major-sets/morgan-dollars-major-varieties-circulation-strikes-1878-1921/221
https://www.pcgs.com/setregistry/dollars/morgan-dollars-major-sets/morgan-dollars-basic-set-circulation-strikes-1878-1921/88
https://youtube.com/watch?v=_KWVk0XeB9o - Ruby Starr (from 'Go Jim Dandy') Piece Of My Heart
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https://youtube.com/watch?v=D0FPxuQv2ns - Ruby Starr (from 'Go Jim Dandy') Maybe I'm Amazed
RLJ 1958 - 2023
The 1874 Carson City Mint Set
“The specimen in that 1990 RARCOA sale, as observed by the cataloger, stood at the top of the condition census, thanks to the MS-64 grade PCGS's experts had assigned it. In its very-early-generation PCGS MS-64 slab it realized $26,400. And then it disappeared. Sometime around 2003 an MS-66 submission event suddenly appeared in PCGS's database. It represented this coin from that 1990 RARCOA auction. That was of course a huge leap in condition rating, from MS-64 to MS-66. And it once again moved this piece to the number one position on the condition census." - Rusty Goe, Stack’s Bowers March 2020 Auction - The D. Brent Pogue Collection Part VII: Masterpieces of United States Coinage
Sometimes I miss some really nice updates. The feature coin today is one of those that I somehow overlooked this year. I would love at some point pedigree the core collection. Then, gauge the diverse provenance of the collection, for example, how many Pogue coins? How many Eliasberg coins? How many Bass coins? The list can go on with other great collections as Battle Born, Fairmont Hoard, Link, Morelan, and many others. Maybe at some point this work can be commissioned. That brings us back to the task at hand, the missed upgrade. The coin is from the great Brett Pogue collection, and is a PCGS finest certified, and from the famed Carson City Mint. This coin has all the making for a pretty cool coin.
The coin was updated in the 114-piece Carson City Set months ago, but I missed it until recently. The 1874-CC Half Dollar with Arrows is one of six coins produced at the Carson City mint in 1874. The production consist of three silver coins: dime, half dollar and the trade dollar. The three gold coins were the half eagle, eagle and double eagle.
The feature coin today represents the only sole finest POP 1/0 PCGS coin in the six piece faux set. The coin replaces an extremely nice GEM MS65 PCGS. The now duplicate coin has a very rich history. According to CoinFacts, the coin is from Harlan P. Smith Collection, possibly sold privately, as there is no such lot in the 6/1906 S.H. & H. Chapman sale. It then went from John M. Clapp to John H. Clapp and sold to Louis E. Eliasberg, Sr. as part of a large collection. After leaving the Eliasberg collection, the coin went into the Stellar Collection for some time before going to the Eugene H. Gardner Collection. The coin was sold in a Heritage Auction on 5/2015 realizing $94,000, which still holds the Auction Record. Less than two years later in March 2017, Dell Loy Hansen purchased the coin in a private Transaction from Numismatic Financial Corporation, Inc. This coin is certainly worthy to be in the Hansen Core Collection, but there is one better. According to CoinFacts, the belief is that only two coins survived in GEM condition. Both the MS65 and MS66 specimens are in the D.L. Hansen Collection.
1874-CC Liberty Seated Half Dollar. Arrows, MS-66 PCGS, Ex: Pogue
Finest Known 1874-CC Half Dollar
Coin Expert Ron Guth comments: For collectors of coins from the Carson City Mint, there are two "must-have" Half Dollars: the 1870-CC and the 1874-CC With Arrows. Both have similar mintages, but for some reason, the 1870-CC is considerably rarer in all grades. The 1874-CC With Arrows Half Dollar is more of a condition-rarity -- though low-grade examples are expensive, they are not as costly as the 1870-CC. In Mint State, the 1874-CC With Arrows Half Dollar is represented by a handful of low-end Unc.'s, a couple of MS63's, a few more MS64's, then two MS65's and a single MS66. The PCGS MS66 example remains a mystery as it has not appeared on the market since it was first graded in 2003. The best example that has been available to collectors is the Eliasberg PCGS MS65 that reappeared in 2015, setting a record price of $94,000 for the date. At least three die pairs were used to strike the 59,000 1874-CC With Arrows Half Dollars.
These comments from Ron Guth is a little dated and the mystery on the MS66 PCGS was solved in Stacks Bowers March 2020 Auction of The D. Brent Pogue Collection Part VII. I started this post with a comment from Rusty Goe pertaining to: This extraordinary Gem is the finest certified for the 1874-CC, although its earliest provenance has apparently been lost. The story continues with commentary provided by the Stacks Bowers cataloger: The PCGS CoinFacts website confirms the 2003 grading event referred to by Rusty Goe: "The PCGS MS66 example remains a mystery as it has not appeared on the market since it was first graded in 2003." Rusty Goe further states, "Sometime around October 2012 the owner of this coin put it up for sale through a dealer-broker reportedly at a price in excess of $100,000." The eventual buyer was D. Brent Pogue, and the coin is now making its first auction appearance as a PCGS-certified MS-66. We anticipate a new record price for the issue when this highly significant 1874-CC half dollar crosses the auction block. This is one of the many coins that was not publicly known to be in the Brett Pogue Collection until it was offered for sale.
In the Pogue sale, the coin was described as: This is a simply outstanding example of the key date 1874-CC half dollar, a coin that offers both unrivaled condition rarity and a mystery surrounding its provenance. The surfaces are lovely, both sides dusted with iridescent antique silver, champagne-pink and powder blue over full, softly frosted luster. A touch of softness to the top of Liberty's head and stars 7 to 12 is common for the issue and hardly worthy of mention, especially since the balance of the design elements are sharply to fully rendered. Exceptionally smooth and virtually pristine. Here is a phenomenal condition rarity with superior technical quality and strong eye appeal that will do justice to the finest collection of Liberty Seated or Carson City Mint coinage.
The cataloger added a few comments on rarity and availability: The 1874-CC is one of only two Carson City Mint issues in the Arrows, Motto half dollar type of 1873 to 1874. It is rarer than the 1873-CC Arrows in all grades and, with a mintage of 59,000 pieces, it is one of the key issues among Liberty Seated half dollars. According to Bill Bugert in the 2010 reference A Register of Liberty Seated Half Dollar Varieties, Volume II: Carson City Branch Mint, only 300 to 350 examples of the 1874-CC are extant in all grades. In his forthcoming book The Confident Carson City Coin Collector, Carson City Mint expert Rusty Goe takes a more conservative view with an estimate of just 165 to 220 coins known. Most survivors are of the WB-3 variety, as here, and the vast majority are in low grades with heavily worn or impaired surfaces. Locating a Mint State example is extremely challenging, with Rusty Goe estimating that only 16 to 19 Uncirculated coins are extant. These high grade coins survived almost purely as a matter of chance since there was no known numismatic interest in Carson City Mint coinage during the 1870s.
The D.L. Hansen Collection of Carson City coinage is really coming along and taking shape nicely. There is still work to be done in 2023 and beyond, but the six coins produced at the Carson City mint in 1874 are important for the overall success of this great collection. I would think the trade dollar may be on short leash. The new coin was offered in late summer by Rare Coin Wholesalers. Even though the Hansen core collection had a nice GEM specimen, it appears the Hansen Team could not walk away this time when the sole finest became available. This is a very nice upgrade to a nice collection of coins.
Provenance: Auction '90, (RARCOA August 1990 as MS64 PCGS), lot 729, realized $26,400; The D. Brent Pogue Collection Part VII: Masterpieces of United States Coinage, (Stacks Bowers, March 2020), lot 7293, realized $84,000; Purchase in Private Transaction from Rare Coin Wholesalers (8/2022), D.L. Hansen Collection.
1874-CC Liberty Seated Half Dollar. Arrows, MS-66 PCGS
PCGS POP 1/0, Finest Known
Certification #38855704, PCGS #6347
PCGS Price Guide $135,000 / Unknown
Ex: Pogue
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
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Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Fourth Upgrade to the Hansen / Morelan Collection of Mint State Seated Liberty Dollars
This is one of the most challenging of all 19th century silver sets. The coins are big and heavy, leading to lots of bagmarks on most surviving mint state examples. In addition, rare dates abound, including the ultra-rare 1870-S, the tough Carson City issues, the rare dates in the early 1850s-the list could continue. Collectors usually choose to buy two examples of this series, one "No Motto" and one "With Motto." A complete set? A great joy and an even greater challenge! - PCGS Registry
This is another miss upgrade that occurred mid-July. Many of you may know the history and the story of the D.L. Hansen purchase of the Bruce Morelan Collection of Mint State Seated Liberty Dollars. The official communications on the DLRC website states: January 2018 - DLRC brokers Legend Collection of Seated Dollars. The coins were updated in the Hansen registry set on December 26-29, 2017. There were two uber sets of coins purchased in the first 18 months of Hansen collecting, the first was the AWA set of Liberty Head Double Eagles and just a few months later, this great set of Silver Dollars. Mr. Morelan wrote a few comments “About This Set” on the PCGS website: The Morelan Collection is the absolute finest ever completed. It's also the ONLY set ever completed in 100% uncirculated condition. It is highlighted by the James A Stack specimen of the 1870-S, the finest of only 9 coins known. In addition, it contains such amazing rarities as the Starr 1844, Norweb 1845, 1850-O and 1851, Garrett 1848, Fairfield 1849, Hayes 1866, Stack 1871-CC, Austin 1872-CC and the Share 1873-CC.
In late 2017 and early 2018, David Lawrence Rare Coins brokered a deal to bring this world class 44-piece Silver Dollar set into the Hansen stable. The almost flawless set did have one flaw, the 1870-CC. The coin that came in the deal was an 1870-CC MS62 PCGS POP 8/8. This was an Ex: Eliasberg Specimen that was described in lot 2242 in the April 1997 sale of the Eliasberg Collection as: "MS-62, prooflike. A splendid specimen, struck from a highly polished obverse die, the reverse die less so, but still prooflike. Delicate golden toning on the obverse and reverse, the latter with a splash of lilac and gray. One of the nicest we have seen of this extremely popular issue. High aesthetic appeal plus a high end Mint State numerical grade combine to make this one of the finest known." At the time of the auction, this wonderful survivor opened for bidding at $4,000 and closed at $22,550 (inclusive of the buyer's fee). The coin was offered in Legend’s Regency Auction XXII on 7/13/2017 and realized $41,125. This coin had a great pedigree, but it is subpar for this world class set. I think there is story to be told and it may be that Bruce sold his 1870-CC prior to the Hansen deal. For whatever reason, the MS62 was the first of four coins that Hansen upgrade in five years.
1870-CC MS62, Cert #83666831 Morelan Specimen (Replaced 7-12/2018) This coin probably should not be referred to as a Morelan Specimen, but it was purchased with the set. Also, it was the first specimen to be replaced in the core collection. The coin is still in the collection, but currently not being used. The Eliasberg MS62 was quickly replaced with 1870-CC MS63 Cert #10789430. The POP 7/1 coin is from the William Porter Collection and currently is in the D. L. Hansen Liberty Seated Dollars (1840-1873) 2nd Set. Both the MS62 and MS63 served only six months in the core set before the final upgrade in July 2018. Hansen purchased from Chris Napolitano the sole finest PCGS certified MS64, Ex: French/ Wong / Battle Born Specimen. The MS64 coin last appeared in Stacks Bowers August 2012 Philadelphia ANA Auction where it realized $129,250 (Auction Record). When offered as lot 1194 in (Stack's) session of Auction 84, the coin was described, in part, as: "Prooflike surfaces and needle-sharp in strike. In the cataloguer's opinion, this is the finest known and more than likely struck for presentation as the first year of issue of the Carson City mint. The coin is really perfect..." per Stacks Bowers cataloger (8/12).
1861 MS65 Cert #81226399 Morelan Specimen (Replaced 12/2018) This GEM has a PCGS POP 3/3 that Morelan described as: Completely original with moderate to thick toning over near perfect surfaces. After a 6-to-12-month stint, the Morelan coin was replaced in the core collection. The coin was sold on Nov. 10, 2019 by David Lawrence Rare Coins in Internet Auction #1090 realizing $61,500. The cataloger described the coin as: An absolutely gorgeous example from the Civil war period. The surfaces are completely original with moderate blue, rose, and green tints. A low mintage of 77,500 coins struck. CAC approved for quality. The Hansen collection houses another MS65 examples as well as the finest graded MS66 example for the date. The other MS65 that is currently in the #2 Hansen set is described as Dazzling Brilliant-White Gem Unc 1861 Seated Dollar (Stacks Bowers 8/2011). The core coin is a PCGS sole finest 1861 MS66 Cert #02070132 purchased in December 2018 from US Coins.
1863 MS66, CAC, Cert #21572855 Morelan Specimen (Replaced 3/2020) This GEM has a PCGS POP 4/1 that Morelan described as: Beautiful velvet mint frost graces the devices. The fields are free of contact marks with only a few scattered lines limiting the grade. Very flashy. In 3/2020, the Morelan coin was replaced when the PCGS sole finest was acquired by David Lawrence Rare Coins for the core collection. The PCGS Cert #38634068 MS67 coin was from the Brett Pogue Collection and described as Stunning Superb Gem 1863 Silver Dollar. The cataloger described the coin as: This richly and originally toned Superb Gem is truly lovely, with warm steel and pewter gray patina and exceptional undertones of vivid cobalt blue and lilac-purple. Fully struck, highly lustrous, and virtually pristine. Mr. Hansen was able to acquire this Pogue Specimen for $108,000. The Morelan specimen is currently in the #2 Hansen set.
1850-O MS63 Cert #21572870 Morelan Specimen (Replaced 7/2022) This choice GEM is the fourth Morelan coin to be replaced. The MS63 has a PCGS POP 4/2 that Morelan described as: The Norweb specimen. An extremely rare date in unc, this coin has abundant luster and eye appeal. In 7/2022, the Morelan coin was replaced in the core collection with one of the two MS64 specimens. The coin was acquired from Rare Coin Wholesalers. The PCGS Cert #42594092 MS64 coin was from the Rod Sweet Collection and described as Incredibly Rare MS64 1850-O Seated Liberty Dollar. The Morelan specimen is currently in the #2 Hansen set.
With four coins replaced in five years, says a great deal about the incredible set of 44 coins that was built by Bruce Morelan over many years. The four replacements coins were three PCGS POP 1/0 Sole Finest Specimens and one POP 2/0 coin. Maybe more importantly, 43 of 44 Morelan coins are still in the D.L. Hansen Collection. Let’s look at this latest replacement.
1850-O Seated Dollar, MS-64 PCGS, Ex: Ex: Rod Sweet
Tied Finest PCGS Certified
Expert Q. David Bowers Comments: This is the second New Orleans issue of Liberty Seated silver dollars. 40,000 were struck (compared to only 14,000 1850-O gold dollars). Circulation was intended to be domestic and probably was primarily in the Mississippi Basin. At the time, river trade was burgeoning, and silver coins of all denominations were in strong demand. Walter H. Breen suggests that bullion dealers may have melted many 1850-O silver dollars. If you want a Mint State 1850-O dollar for your collection, I suggest that you compromise and acquire an EF or AU instead, at least as an interim strategy, for it may be years, if ever, until you can buy a nice Mint State coin. Examples are few and far between.
Of the two PCGS MS64 coins, the other specimen may be considered by many as the finest. The coin is CAC Approved and still in an OGH-First Generation. Before the Hansen coin was crossed over to PCGS, the other coin was cataloged as the finest PCGS certified for many years. It also holds the auction record of $141,000 obtained in Legend’s Regency Auction in July 2022. The Hansen Specimen has not appeared in auction since 2012 as MS64 NGC Cert # 3416412-002. Therefore, it is difficult to compare auction results.
In the 2012 auction, Heritage cataloger described the date and mint as: The New Orleans Mint struck four dates in the Liberty Seated dollar series, all before the addition of the motto IN GOD WE TRUST in 1866. Of those four, the 1859-O and 1860-O are common, by the measure of the series, in Mint State. However, the 1846-O -- and especially the 1850-O -- are seldom encountered in Uncirculated grades. Only 40,000 pieces of the 1850-O were struck. In the March 1979 Gobrecht Journal (as quoted in the Bowers silver dollar reference), Bruce Lorich wrote of his review of 100 years of auction records, concluding that Mint State specimens of the 1850-O appeared less often at auction than any other Seated Liberty dollars except the 1855, 1870-S, 1871-CC, and the "non-existent 1873-S." The Bowers reference also says "... it may be years, if ever, until you can buy a nice Mint State coin. Examples are few and far between."
The coin is described as: The present near-Gem offers light copper-gold and steel-blue toning near the borders. The fields and devices are nearly brilliant, with a slight golden cast. The strike is good if not complete, with slight softness seen only on the eagle's head and a few star centers. Abundant luster emanates from both sides, and there are light signs of die rust noted in the upper left reverse field. As a final note, the CAC POP reports one MS64 (the previous mention OGH specimen) and three MS63. One of the three MS63 CAC coins is the Hansen/Morelan Specimen that is currently in the Hansen #2 set.
Provenance: Rod Sweet Collection (Bowers and Merena, 7/2005), lot 1047, realized $29,900; Long Beach Signature Auction, (Heritage 2/2006), lot 1657; Signature Auction, (Heritage, 7/2006), lot 2653; realized $37,375; Central States Signature, (Heritage, 4/2009), lot 2575, realized $21,850; US Coins Signature Auction, (Heritage, 8/2012), lot 5186, realized $23,500; Internet Coin Auction, (Heritage, 11/2012 as MS64 NGC Cert # 3416412-002), lot 26972, realized $24,675; Purchase in Private Transaction from Rare Coin Wholesalers (7/2022), D.L. Hansen Collection.
1850-O Seated Dollar, MS-64 PCGS
PCGS POP 2/0, Tied Finest Certified by PCGS
Certification #42594092, PCGS #6938
PCGS Price Guide $125,000 / Unknown
Ex: Rod Sweet
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Why in the world did Hansen pass on the 1850o $ (ex. Stephen Petty) that Legend sold recently? That coin was stunning and CAC approved too.
It's not my story to tell, rest assured that it went to a very good home.
@Currin Thanks for the PM.
The petty 50o $ was an incredible coin and was one of my favorites while lot viewing. I actually sent a video of her to the winning bidder. It went to the right home! 🤫
Last 2022 Update for the D.L. Hansen Proofs
"Considering how desirable Proof double eagles may appear to a collector today, it is ironic that at one time there was very little interest in them. In 1920, for example, Henry Chapman, the well-known Philadelphia dealer, was retailing brilliant Proof double eagles of the early 20th century for $22 to $24 each, just a nominal amount above face value!" - The cataloger who described the present piece for the second Garrett auction in March 1980.
Before we wrap up and place a bow of 2022, I want to post one more amazing proof issue. This was an addition to the Double Eagle Proof Set. This new coin advances the D.L. Hansen Collection of Collectable Gold Proofs one step closer to completion, so let’s recap the progress the Mr. Hansen has achieved. I have detailed the eleven sets that comprise the complete collection for proof gold from 1859 to 1915 (all collectable). The set consists of 294 coins. As I have stated before, PCGS does not have a set that represents these sets, so this chart provides a fairly accurate representation.
Since the gold proofs from the Heritage’s 2022 US Coins Signature Auction a few months ago, the collection has advance slightly. The collection requires 294 coins with only 61 remaining. Previously, I had determined that Mr. Hansen is on a pace of about 15 new additions per year. At this pace, the collection is about four years away from completion. There will be opportunities in 2023 from both the sale of the Harry Bass and the Tom Bender Collections. Will Mr. Hansen maintained the 15 coin pace, or will 2023 be a banner year for proof additions? Or a decline? Next year at this time, we will know that answer.
1901 Liberty Head Double Eagle, PR66CAM, Ex: Garrett
Exquisite PR66 Cameo 1901 Double Eagle
David Akers wrote a few decades ago: The 1901 is rare in proof, more or less equivalent to the 1896 and 1900. Approximately 30-35 proofs are known.
The 1901 Liberty Head Double Eagle reports a mintage of 96. CoinFacts Rarity and Survival Estimate is 42 for all grades, including twelve that are PR65 GEM or better. Of those twelve, the Bob Simpson PR66+ DCAM specimen is the Single Finest Certified at PCGS. The coin appeared in Heritage’s Central States US Coins Signature Auction on in May of 2022. The cataloger described: In United States Proof Coins, Volume IV: Gold, John Dannreuther notes: "The 96 proofs struck in 1901 are scarce with heavy frost, as the lighter frost found from 1898 onward begins to become even lighter. Only a few coins have received the coveted deep cameo designation. "By 1902 one almost never sees a cameo designation, much less a deep cameo example. In 1903, not a single deep cameo double eagle has been seen by a third-party grading service, with cameo examples scarce." The Simpson specimen realized $288,000 (Auction Record). The second coin on the PCGS roster is a sole PR66DCAM which not much public information is known.
Once you get pass these two DCAMs, the next on the roster is a trio of PR66CAMs with the new Hansen/ Garrett coin as one of them. Of the three, one of them are CAC Approved. None of them have appeared in recent auction, so a pedigree of the #3CC PR66CAM CAC cannot be determined, but we know it is not the Hansen / Garrett specimen which I believe would be tied for #4CC on a PCGS roster. The last appearance of the coin was in a Heritage (CSNS) US Coin Auction in April 2009. The cataloger described the Hansen 1901 coin as: This Premium Gem offers outstanding black-and-gold contrast with potent mirrors. When tilted just so under a light, the fields gleam canary-yellow, though the rims show occasional elements of orange and honey. A handful of lint marks appear on each side, the most noticeable one in the lower left obverse field with a slight overlap on Liberty's neck. The cataloger for the Garrett auction noted that "In terms of overall quality, this 1901 Proof is in the very front ranks of extant specimens." A look at contemporary certified population data bears this out.
The coin was acquired in an early August and included in the Hansen Proof Collection. If you take note of the timing, the Simpson coin was offered in May of 2022. It is very possible that Mr. Hansen was the under bidder on the finest PCGS CC#1 specimen. The collection still needed a 1901 Double Eagle Proof, so it appear the Hansen Team fulfilled the need with a CC#4 specimen a couple months later. Now, there are only 61 coins to go.
Provenance: Garrett Collection Part 2; (Bowers & Ruddy, 3/1980 as uncertified PR65), lot 800, realized $60,000; (CSNS) US Coin Auction, (Heritage, 4/2009 as NGC PF66 CAMEO, Cert #3211844-001), lot 2773, realized $92,000 (Not Sold); Purchased by David Lawrence Rare Coins for The D.L. Hansen Collection.
1901 Liberty Head Double Eagle, PR66CAM
PCGS POP 3/2
Certification #45169105, PCGS #89117
PCGS Value Guide: $300,000 / Unknown
Ex: Garrett Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Liberty Head $2-1/2 Gold with Major Varieties, Circulation Strikes (1840-1907)
"The true scarcity of this and other very rare Philadelphia Mint gold coins is sometimes lost because of the focus most collectors give to the popular branch-mint issues. The 1865 quarter eagle is much rarer than some of the more-sought-after Southern gold rarities." - Jeff Garrett and Ron Guth wrote in their Gold Encyclopedia
PCGS Registry describes the Liberty Head $2-1/2 Gold with Major Varieties set as: This is one of the longest-lived series in all of numismatics, beginning more than two decades before the Civil War and lasting into the 20th century. It is a challenging but not impossible set, with the ultra-rare 1854-S being the number one key. Charlotte and Dahlonega gold coins are sprinkled throughout the set, adding greatly to the appeal. Of course, there are some tough-to-locate pieces from New Orleans, San Francisco and Philadelphia, too. Now, by adding the varieties in this set, it’s even longer (more coins) and tougher to complete. The 1843-C Small Date is always scarce and popular, as are the reverse varieties of 1859, 1860 and 1861 and the ultra-famous and historic 1848 CAL. If you’ve gone far enough to complete the basic set, you'll definitely want to add these significant varieties!
The D.L. Hansen Collection of Half Eagles get a lot of love. In 2022, the quarter eagles did receive a little love too. At the start of 2022, the GPA with bonus of the 147-piece set of Hansen Liberty Head Quarter Eagles was 60.846. By year end, that the grade for the set was 61.602, almost a full point increase. In reviewing the history of the set, 24 coins were upgraded in 2022, representing 16.3% of the set. With all the upgrades, the D. L. Hansen Liberty 2 1/2 Gold (2nd Set) is coming along nicely. It is over 89% complete and rank #4 in that All-Time list behind Harry W. Bass and Louis Eliasberg.
D.L. Hansen started 2022 with a large purchase of nine quarter eagles from Rare Coin Wholesalers. They were all condition census PCGS Top Five coins with the 1842-O the best graded sole finest PCGS POP 1/0. This set up for a good year for the quarter eagle set. Now, let’s look at the details in the 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 1842-C, PCGS MS65, CAC.
27 Coins - PCGS Tied for Finest Certified, highlighting the incredible 1862, MS64+ CAC, POP 2/0.
32 Coins - PCGS Certified One Finer, highlighting the astonishing 1841, AU58, POP 1/1.
46 Coins - PCGS Condition Census Top Five, highlighting the remarkable 1854-S, VF-35 CAC, POP 2/2
This impressive set is 80.95% PCGS condition census top five. Of the non-CC specimens, the bottom five coins with the highest PCGS POP are:
1841-D, VF-35 CAC, PCGS POP: 4/47
1843-C Small Date, XF-45, CAC, PCGS POP: 8/29
1894, MS64, PCGS POP: 28/28
1883, MS60PL CAC, PCGS POP: 1/24
1885, MS62+ CAC, PCGS POP: 1/16
As you can see, the set still has a ways to go and the 28 coins that are not condition census which makes prime candidates for upgrading. Let’s review the feature coin for today.
1865 Liberty Head Eagle, PCGS MS61
One of Two Mint State by PCGS, None at NGC
Expert David Akers wrote: Like the 1864, the 1865 is extremely rare as a nonproof. Of the 25 appearances at auction in our 226 catalogue survey, only 10 were busienss strikes. I have never seen a mint state 1865 and, in fact, have seen less than a dozen nonproofs in all. Although its mintage is greater than for either the $3 gold piece or half eagle of the same date, the quarter eagle is significantly more rare than either of those two denominations in nonproof condition. The 1865 and 1864 are two of the rarest dates in the entire series and, disregarding proofs, have actually appeared at auction less often than any other quarter eagle except the 1804 13 Star Reverse and the recently discovered 1862/1.
This coin is not well documented from online sources except for Doug Winter. He penned an article in 2012 titled: Assembling a Year Set of Civil War Gold Coins, Part Four: 1865. For the 1865 Quarter Eagle he wrote: The final quarter eagle of the rare three year run from 1863 to 1865, this issue has an original mintage of only 1,520 plus 25 Proofs. It is not as rare as the 1864 quarter eagle but it is a very difficult coin to find with few than three dozen known in all grades. The 1865 is unique in Uncirculated with a single MS63 graded at PCGS. The next best available coins are a small group of AU58's, which are currently valued in the $20,000-25,000 range depending on quality. This is a nearly impossible coin to find with original color and surfaces and it is actually a bit more difficult to find with good eye appeal than the more acclaimed 1864. For a high quality Civil War set, finding a choice AU55 to AU58 would be an impressive accomplishment.
In 2008, he pinned another related article titled: The Ten Rarest Liberty Head Quarter Eagles. In the article he stated: Due to the fact that it has a mintage of just 1,520, some people have assumed that the 1865 is a rarer date than the 1864. This is not the case as the 1865 appears to have a slightly higher survival rate. My best estimate is that there are 25-35 examples known. According to the PCGS Population Report, there is an example graded MS63. I am not aware of this piece but assuming that it exists, it is by far the finest known and it is the only Uncirculated 1865 quarter eagle that exists. Both PCGS and NGC show an abnormally high number of coins graded AU58 and this is as a result of multiple resubmissions. I believe that there are around six or seven properly graded AU’s known as well as another ten or so in EF. When available, this date tends to have below average eye appeal due to very scuffy surfaces. I haven’t seen more than a handful of 1865 quarter eagles that were totally original and choice. At current price levels, I think this coin is excellent value as it is a major rarity that can be purchased in a Condition Census-level grade for less than $20,000.
A few months ago, an 1865 NGC AU55 CAC was offered on Doug Winter’s website. In this posting, he confirmed the existence of the MS63 PCGS specimen and described the rarity as: The 1865 is the second rarest business strike Philadelphia mint Liberty Head quarter eagle after the 1864. Only 1,520 were made and there are around 30-40 known with most in the EF40 to AU50 range. I sold the only known Uncirculated piece (a PCGS MS63) to a collector many years ago and the 1865 is a strong R-7 issue in AU grades with fewer than 10 properly graded pieces known. This issue has multiple levels of demand as it is sought by Liberty Head quarter eagle specialists, Civil War collectors and individuals who purchase truly rare coins. The Hansen MS61 was known at this writing, but was not mentioned in the Winter description. I would assume that the recent upgrade from a PCGS AU58 to MS61 due to Mr. Winter’s expert eye was not impressed with the upgrade. Also, other than the confirmation of existence, not much else is known about the finest coin. Only additional interesting fact that I can find is that in the 1941 B. Max Mehl sale of the W.F. Dunham Collection, a MS65 specimen described as “Brilliant Uncirculated with Proof surfaces”. The coin realized $42.50. Could it be the MS63 PCGS?
As for the Hansen MS61, the coin is only the second specimen to be certified mint state by PCGS. In Heritage, 2/2020 Long Beach Expo US Coins Signature Auction, the cataloger wrote: A mintage of just 1,520 pieces and the failure of coinage to circulate in the Eastern two-thirds of the country during the Civil War made 1865 quarter eagles rare from outset, and this Philadelphia date remains extremely rare in all grades today. It equals the scarcity of several branch mint gold pieces of the era, although collectors do not always recognize the fact. This is a nearly Mint State example, with sharply struck devices and reddish-gold patina over semireflective fields. Only a few tiny marks and delicate hairlines are seen under a loupe. The eye appeal is exceeded only by its abject rarity, two factors that argue for a perceptively strong bid.
The Hansen MS61 PCGS CC#2 coin replaces the PCGS CC#3 coin in the core collection. The previous coin was AU58+ from the Soluna Collection. I would except for see more upgrades to the set in 2023.
Provenance: Long Beach Expo US Coins Signature Auction, (Heritage, 2/2020 as AU58 PCGS, Cert #38794793), lot 3149, realized $45,600; 4/2022 Purchased by David Lawrence Rare Coins for The D.L. Hansen Collection.
1865 Liberty Head Eagle, PCGS MS61
PCGS POP 1/1
Certification #39155314, PCGS #7801
PCGS Price Guide $125,500.00 / Unknown
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
The 2022 ANA Auctions – The James R. McGuigan Half Cent Collection (4 of 4)
Half Cents with Major Varieties, Proof (1831-1857)
There were several pronounced auctions in 2022 that produced multiply purchases by the DLRC team. Let’s recap a few of the bigger ones. Also, there were a couple private purchases including the Dr. Charles Link Half Dollars and the Wult Morgan Dollars. Here is a quick recap and the number of coins that I featured in 2022.
The Fairmont Collection-Hendricks Set by Heritage featuring eight coins.
Dr. Charles Link’s Early Half Dollars by private transaction with DLRC featuring eleven coins.
Wurt Collection of Morgan Dollars by private transaction with DLRC featuring four coins.
The 2022 ANA Auctions – Tom Bender Seated Liberty Dimes featuring two coins.
The 2022 ANA Auctions – The James R. McGuigan Half Cents featuring three coins (four including today).
The 2022 ANA Auctions – Tom Bender One Dollar Gold featuring two coins
The 2022 ANA Auctions – Georgia Gold Rush Collection of Dahlonega featuring five coins.
The 2022 ANA Auctions – Daryl J. Haynor’s Virginian Collection of Classic Gold featuring four coins.
The 2022 ANA Auctions – Heritage’s 2022 US Coins Signature Auction featuring four coins.
Historic Harry W. Bass Jr. Core Collection Part I - US Coins Signature Auction featuring eight coins.
Heritage 2022 Long Beach Expo US Coins Signature Auction featuring two coins.
Winter 2022 Auctions - The Harvey B. Jacobson, Jr. Collection / Stacks Bowers featuring three coins.
Winter 2022 Auctions – Fairmont Collection (CBL Set) / Stacks Bowers featuring two coins.
As stated, 2022 produced some great sales as collections were coming out that had been tucked away in some situations for decades. As for 2023, we don’t have a clue what more to see with the Fairmont Collection. Stacks Bowers is holding information close to their chest on that one. We do know there will be more to come from Bender and Bass Collections starting the January FUN show. Also, we know the Stewart Blay Lincolns will be auctioned by Great Collections in January. He has other great series, but no word if they will be auctioned in 2023 as well. There were collections that were unexpected offered in 2022, as with the Georgia Gold Rush Collection of Dahlonega and the Daryl J. Haynor’s Virginian Collection. Well, see more of this type of high-end coins available in 2023?
The most valuable 2022 Hansen purchase was the 1861 DCAM Double Eagle. The coin came from the “Important Selections from The Bob R. Simpson Collection, Part VII”. In the Heritage Auction, January 2022 FUN US Coins Signature Sale in Orlando, this PR66DCAM PCGS coin was headlined as: 1861 Double Eagle, PR66 Deep Cameo, One of the Rarest Dates in the Series, Only Five Examples Traced. The coin is also the finest and with a rich history as stated in the listing: The Bob Simpson example presented here is widely recognized as the sole finest extant. It can be traced back to the collection of another Fort Worth oilman, Amon G. Carter, Sr., where the Stack's cataloger called it "A choice example" of "One of the rarest of all double eagle Proofs... ." Ed Trompeter purchased the coin out of the Carter sale. Heritage Auctions purchased the entirety of that collection in 1998, selling off the individual coins privately of the course of a couple of years. This example found its way into the Franklinton Collection. It made its last public appearance as PR67 Ultra Cameo NGC in the August 2006 American Numismatic Rarities sale of that collection, where it was described as: An intensely beautiful gem Proof, a superb coin by any standards. Heavily frosted motifs, blemish free we might add, sit serenely against deep mirror fields, as though chiseled from living gold. An exquisite coin, and easily among the most beautiful gold coins ever seen by the present writer in nearly 20 years of numismatic cataloguing." It realized $1,800,000 with PCGS Value of $840,000 at the time of the sale. The current PCGS value is $2,150,000 with price history chart:
It is difficult for me to pick one coin in 2022 as adding the most significance to the collection. I tend to lean to coins that are not in the collection which I call expansion coins. I cannot say any one of these that I am mentioning today were more significant than the other because three completed sets and the half eagle is one coin closer. With all the purchases in 2022, the best four coins that come to my mind are:
1797 1/2C C-3c Gripped Edge, AG3BN. This coin is one of the nicer additions acquired in the James R. McGuigan Half Cent Collection / US Coins Signature Auction. The coin is now the lowest PCGS graded specimen in the Hansen’s 4560-piece US Mint Strike Issues (Core Sets). Before this purchase, it was the only coin missing coin in the 54-piece Hansen Collection of Half Cents with Major Varieties, Circulation Strikes (1793-1857). The all-time registry had three collections listed that are 100% completed High Desert, Missouri Cabinet, and Jim McGuigan. With this purchase, D.L. Hansen becomes the 4th completed collector in the registry.
1852 1/2C, Large Berries (Restrike), PR64+ BN. This coin can certainly be referred to as an ultra-rare Major Variety Proof from the James R. McGuigan Half Cent Collection / US Coins Signature Auction. This was the only proof coin missing the Hansen’s Entire EAC Collection of Proofs. The coin was once in another great collection that was assembled by Louis E. Eliasberg, Sr.
1798/7 $10 7X6 Stars, F15. This coin finally ended the hunt for the 1798/7 Capped Bust Right Eagle, Stars 7x6 specimen. 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.
1810 $5 Large Date, Small 5, AU53. Although this coin did not complete the five-dollar set, the significance of acquiring this specimen was of great achievement. Maybe the biggest is 2022. The coin from Historic Harry W. Bass Jr. Core Collection is finest of four confirmed examples. It did complete the Type 1, Capped Bust, Large Bust Half Eagles (1807 – 1812) subset. This is an eleven-coin subset of the Capped Bust Half Eagle set. The entire 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 317-piece entire circulating strike half eagle (1795 – 1929) gold collection. The Hansen Collection ends 2022 with three missing coins in the 317-piece half eagle gold set: 1798 Small Eagle, 1820 Curl Base 2, Small Letters, and the famous 1822.
All four of the coins were significance to reducing the missing coins in the 4560 specimens of US Mint Strike Issues to only 14. This set is slightly different than the Eliasberg quest which has 13 missing. A few coins overlap. It will be interesting to see how aggressive the Hansen Team will be in 2023 and if these numbers can be reduced even more. There will certainly be several once in a lifetime opportunities.
In retrospection, I believe the James R. McGuigan Half Cent Collection offered in US Coins Signature Auction was a little over shallowed by the other sales during the same time. This 1834 Half Cent, PR65 Red was certainly a coin worthy of a feature post which I missed. I will end 2022 with this POP 1/0, only known red specimen.
1834 Half Cent, PR65 Red, PCGS CAC, Ex: McGuigan
The Only Red Proof at PCGS
In a past Heritage Commentary: Walter Breen suggested a proof population of about 18 pieces in 1983, and Ron Manley concurred with that figure, based on a combined NGC and PCGS population of 19 pieces in January 1997. Today, more than 17 years later, the combined population has increased to 30 proofs. While some resubmissions are inevitable, the proof survival is likely closer to two dozen examples.
Whether survival is 30, two dozen, or 18, the fact of the matter, there is only one red in all grades for this proof. Heritage also wrote: The best examples of proof 1834 half cents are this piece that is graded PR65 Red PCGS and the Missouri Cabinet coin graded PR66 Red and Brown PCGS (High Desert Specimen). Five others are graded PR66 Brown or PR65 Red and Brown. Richard T. Coleman, Jr. identified the prior provenance of this example from an Al Overton mail bid auction dating to the late 1950s, the provenance presumably provided by William Weber. Dan Hamelberg provided the specific provenance information where the coin was described as Brilliant Red.
Heritage added: Colorado Springs, Colorado was the home of Albert Charles Overton who was born in Coos Bay, Oregon on May 1, 1906. He entered the coin business in 1940 and conducted more than 40 auctions from then until 1965, including the 1963 and 1965 American Numismatic Association convention sales. He was a past president of the Professional Numismatists Guild. Overton was the author of Early Half Dollar Die Varieties, 1794-1836. He received the ANA Medal of Merit in 1967. Overton died at Colorado Springs on February 11, 1972. Heirs of the Overton estate sold his half dollar reference collection to Sheridan Downey in 1993.
The Hansen Half Cent Proof set is second in ranking to The High Desert by a good amount. The HD set has a dozen PCGS POP 1/0 specimens compared to Hansen’s six. I would rank the 1834 specimen as the second-best coin in Hansen’s half cent proof set behind the previously mentioned 1852 1/2C, Large Berries (Restrike), PR64+ BN.
Provenance: Albert Charles Overton (9/1958), lot 169; William Weber (3/1982); US Coins Signature Auction, (Heritage, 8/2022), lot 3124, realized $96,000, D.L. Hansen Collection
1834 Half Cent, PR65 Red, PCGS CAC
PCGS POP 1/0, Only Red Proof at PCGS
Certification #30451311, PCGS #1203
PCGS Price Guide: $100,000 / Realized $96,000
Ex: James R. McGuigan Half Cent Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
The above is in reference to completing the U.S. Proof Type set. FWIW, I'm pretty sure that Tyrant has actually completed this set, excepting only the large-planchet capped bust half eagle ... a coin that DLH owns (1829 @ PR64 CAC) ... and the small planchet capped bust quarter eagle (both Tyrant & DLH are missing).
Bass/Simpson sales are featuring:
Jesus H - it is going to cost a Billion dollars and I am not joking. I spent over a million and I don't have jack compared, heck that is a single coin. My lord. He has a bunch of my coins that I made - I hope when he is done he has a party where we all can come check it out.
Sweet as! A nice break from the parade of gold.
Smitten with DBLCs.
Happy 2023
With last week's FUN show and this week, a series of sales for Heritage’s US Coins Signature Auctions starting tomorrow, the year is starting with a bang. There have already been four coins to top $1 million, and we are just starting 2023. I think this will be a banner year. I have been doing this thread for five years now. I have learned to stay on task and don’t get in back and forth with posters. There are other threads for that. Although, I do want to clarify a previous post.
Below is the paragraph in entirety as appears in original posting in October. My information (factual or not) is based on content provided by a Numismatic Expert. I consider Laura Sperber one of the best and she is very trustworthy. As with all forum posts, not just mine, some content is an opinion and the line between facts and opinions can be blurred. That is not the case here; it is clear. My commentary below I believe to be 100% factually based on an expert’s article.
Mercury Dimes (1916-1945)
The 80-piece Mercury Dime set is a no-win series for D.L. Hansen. In the early days of the collection, this was a series that Mr. Hansen had a desire to build a top set. To build a top set requires about a dozen sole finest specimens. Most of them are locked up in a collection that Laura Sperber, Legend Numismatics, is the agent. The Hansen entire 80-piece set is #2 followed by three famous retired sets: Gerald Forsythe, cmcnutt, and Joshua II Collection. The set is 100% complete with GPA weighted rating of 69.24. The set contains 91.25% PCGS Condition Census Top Five specimens. It has 47.50% finest PCGS certified coins with four-coin sole finest. The Hansen Collection has a second set that is 100% complete and is seventh in the all-time registry. Mr. Hansen has stated that reason he is building sets is because he enjoys it. I think the joy for Mercury Dimes left him for a while. After a year on silence in this series, we saw the first upgrade in July. Now, we have a second in August that will be featured today.
It should be clear that when I started the posting stating “80-piece Mercury Dime set is a no-win series for D.L. Hansen” that I am talking about this set only, period. I don’t have the time or the interest to research all the sets for Mercury Dimes or any minor varieties for that matter. If anyone want to make an augment that “it seems ALL Mercury Dime sets are a no-win for Hansen...not just the 80-coin set”, that seems fair, because I don’t study the ALL sets of anything, just Hansen Core Sets. Is that not fair enough? If I am discussing the National Football Conference and I say, “The Chicago Bears is worst team in NFC”, that is not “lying or... just providing false information due to ignorance”, because I did not say “They are the worst in the NFL”. Both statements are both true, but the first statement is more precise to the topic of the discussion of the NFC, but less broad the NFL as a whole. When I say “80-piece Mercury Dime set”, I am not sure how I can be more precise.
As for "The finest Mercury Dimes are under the control of the Laura Sperber, Legend Numismatics..." Really? Are you sure? Who is providing you with that information?
My whole statement reads: “The finest Mercury Dimes are under the control of the Laura Sperber, Legend Numismatics with most in one of her client’s collection that is called the Mad Hatter. She once stated that this collection had the #1 and #2 All-Time Finest sets in one collection”. The Mad Hatter is the owner's name for Merc Madness set. This is based on her article. So, who is providing the information? Laura Sperber.
She closes by saying “We look forward to working with him for many more years to come!”, so I take that he is her client, but could be wrong. If not, let’s give her or the owner she is speaking on behalf of the opportunity to clarify. She also states that she assisted with placing the #1 Gerald Forsythe with Merc Madness. She also states not only does he have the best top set, but also a second set. Sounds much like having control of the finest Mercury Dimes to me. If anyone want to dispute her writings, take it up with her. These are the words of the owner:
This set contains 70 TOP POP, 24 TOP POP #1, and 67 CAC endorsements. Total coins in set – 80
THE INDISPUTABLE FINEST MERCURY DIME CABINET.
SEPTEMBER 21st, 2022
Last time I checked, there are only about 30-35 PCGS POP 1/0 sole finest in the 80-piece set. My last count, his POP 1/0 was up to 25. “Having control of the finest”, not sure how anyone could argue he does not. Let’s read the Legend article in its entirety.
KABOOM! MERC MADNESS HAS STARTED!
We wish to congratulate the Merc Madness Collector on his achievement of eclipsing the long time #1 sets of Gerald Forsythe. Merc Madness now has the absolute #1 Mercury Dime PCGS sets in ALL Full band categories, and he is so proud he did not have to spend $348,000.00 on a coin to do so!
This accomplishment was made possible by our assisting Merc Madness at the ANA Show in buying Gerald Forsythes #1 set. What Jerry had, Merc Madness did not, and it was a perfect fit. The sale was for several million dollars. Now Merc Madness has the #1 ALL TIME SETS and he will also be #2 shortly as well too with his duplicates-too be listed under the name Jupiter Collection.
Merc Madness is a lifelong collector. Mercs have always been exclusively it for him. We have not been able to confirm the rumor he was born with a Merc in his mouth (vs a silver spoon)! He is a businessman who has finally been able to spend on the joys of his life. He certainly is not a billionaire and every coin he buys he really looks over hard. Mercs certainly rank at the top for him and in a short time he has done what many others could not.
Merc Madness is one of the top collectors we have ever met. His intensity only rivals our partner Bruce Morelan and RDS (our great friend and customer who has the #1 all time MS Barber Quarter set). He can answer ANY question about where ANY GEM Rare Merc is. He knows the mintage’s, the pops, whats out there and what is not. Its actually embarrasing to us that we do not know half as much as he does.
Last, Merc Madness is not done. He wants BOTH his #1 and #2 ranked sets to be 100% the best. he also ONLY accepts PCGS CAC (save for a coin or two). He gets it, he really does. You won’t be reading much more about him, he is also a private collector. He does actually look at his coins on weekends and has no ego whatsoever. We’re rolling this news out as a tribute to him-he did not seek it. We look forward to working with him for many more years to come!
End of article
In closing, I am not one to go back and forth with someone on the forum. My response is very unusual under unusual circumstances. The Hansen watch is one of my threads that I stated almost five years ago. There have been detractors from day one. I stated within days of starting the thread and will say it again. If what I write is not what you want to read, do not open my thread. If I have nothing to say that you want to hear, don’t open my thread. If you don’t think this thread has credibly, has merit or has value, don’t waste your time on opening my thread.
For all the other “watchers” on a positive note, soon we will be starting to see more new Hansen updates in a new year. For the many of you that enjoy the real-time documentation of this historic collection (by the way, that is the real intent), please continue with me in 2023. It has a potential to be a banner year. I know many are you looking forward to significant and important upcoming events in 2023, like the Bass Collection, Bender Collection, and others. Maybe we can put Mercury dimes to rest, at least for a while. I stated (referring to Mr. Hansen) that I think the joy for Mercury Dimes left him for a while. Now, me too.
PS, if you enjoyed my 2022 posts, give me a shout out. I enjoy dedicating my personal time for this endower. So, your support does mean a lot to me. Thanks and Happy New Year!
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
You are doing a great job Currin!!!
Latin American Collection
Historic Harry W. Bass Jr. Core Collection Part 2 - US Coins Signature Auction (9 of 13)
Four coins top $1 million each during Heritage Auctions event; proceeds will benefit Dallas-based nonprofits – Heritage Press Release - January 6, 2023
The auction was enormously successful by any metric: of the 103 offered lots, 30 established new records. The event was the second installment of the collection of Harry W. Bass; proceeds from the auction will benefit the dozens of Dallas-based nonprofits supported by the Harry W. Bass Jr. Foundation, with a particular emphasis on early childhood education and literacy in Dallas. Part I reached $20,459,645 Sept. 29. "Heritage Auctions delivered more than $24 million (Realized $24,322,741) in winning bids for the Bass Foundation tonight, and nearly $44.5 million over the first two parts of this extraordinary auction, and we know the foundation will put these proceeds to great use amongst the charities they support," Heritage Auctions Executive Vice President Todd Imhof said. "Our sale of Part II of the Bass Foundation's rare coins tonight delivered numerous world records and shows this bull market in the rare coin hobby continue." Steve Lansdale, Public Relations Specialist, Heritage Auctions.
Heritage Auction have done a great job with the sale of the Harry Bass Core Collection. As stated by the press release, The Bass Part 2 Sale offered 103 coins, with several rare opportunities. This could be the most significant Bass sale in the four-part dispersion of the Bass Core Collection. As example, this sale offered the 1870-S Three Dollar Gold for the first time in 40 years. Most likely, many of us will be long gone before it comes to market again.
In a closer look at the 66 US issue gold coins in the sale, I looked for any coins that would improve the Hansen Core Collection. In doing so, I identified 30 Bass coins that would either expand or upgrade the collection. There are three coins that would fill empty slots in the PCGS registry set(s). The first two are the 1798 Wide Date, Quarter Eagle and the 1820 Curl Base, Small Letters Half Eagle. The third is in a league of its own, the 1870-S Three Dollar. It appears the Hansen Team acquired first two of the three. I assume he was under bidder in 1870-S Three Dollar lot.
In addition to these two expansion coins, he was successful in acquiring one really nice upgrade to the collection. The coin replaced is a rarity that Mr. Hansen just acquired a few weeks ago. I know replacing the Jacobson F15 1798/7 7X6 Stars Eagle Specimen in a just a few weeks could be hard pill to swallow, but the coin is rare and this Bass offering for a MS62 specimen could not happen again for some time. This one upgrade moves the Hansen set to #1 ahead of the St. Jude Gold in the current registry and into #2 behind the Bass set for all-times for the Early $10 Gold with Major Varieties Set (1795-1804). The coin turned out to be one of the four coins to top $1 million mark. We will see more of this coin in a later posting.
The final two coins were a pair of Three Dollar Proofs. Both coins were currently not in the Hansen Collection. First, the missing 1869 PR65DCAM Three Dollar Proof was offered in the Bass Part II sale as well as another specimen being offered the Bender sale later this week. The Bender coin is a PR65CAM which could sell for a little less. As you will see later, the Bass specimen is a CC#2 and the Bender is a CC#4. The other proof coin that Hansen purchased was an interesting Civil War dated 1865 $3 Restrike Proof. Tom Bender set did not have one. The coin is needed in the PCGS Registry set. David Akers wrote: 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. This is a rare restrike of a rare date. Now, let’s take a detail look at the 1869, and save the 1865 $3 Restrike Proof for my next post.
1869 Three Dollar, PR65 DCAM Proof, CAC, Ex: Harry W. Bass, Jr.
Only 25 Proofs Struck, 10 Traced, Second on the Condition Census
Expert David Akers comment was simply: Proofs of this date are extremely rare, fully equal in rarity to the identical mintage 1867 or 1868. According to recent study by current experts, Heritage cataloger wrote: Only 25 examples of the 1869 three dollar were struck in proof format, with those coins delivered to the coiner on February 19. Of that mintage, John Dannreuther estimates that 12 to 14 pieces survive. However, Ron Guth of Numismatic Detective Agency, who provided the roster below, has only been able to trace 10 distinct representatives.
The Harry Bass 1869 Three-dollar Gold – HBCC #4022 is described on The Harry W. Bass, Jr. Foundation website as: This is another impressive Proof example that ranks among the finest known. In addition to 25 Proof examples, a small total of 2,500 circulation strikes were minted this year. Approximately 12 examples survive including those in the Smithsonian Institution and American Numismatic Society. All Proofs of this issue were struck from a single die pair, with circulation strikes from a different die pair. As with 1868, examples were also struck in aluminum, as well as in copper.
The PCGS POP reports ten grading events starting with one PR64 and one PR64CAM. The remaining eight coins are graded PR65 with two straight PR65 and four PR65 CAM, including the upcoming Bender specimen. This leave two coins that are finest certified PR65DCAM, including the Bass/Hansen CAC approved specimen. As for NGC, the population report has one PF64, one PF64CA, and one PF65UC. Strangely, the PR66★ Cameo NGC mentioned in Ron Guth’s roster does not appear any longer in the NGC report.
Roster of Proof 1869 Three Dollar Gold Pieces by Ron Guth of Numismatic Detective Agency.
1. PR66★ Cameo NGC. Elite Coin Auction (Superior, 7/2003), lot 581, $46,000; FUN Signature (Heritage, 1/2007), lot 3477, $69,000.
2. PR65 Deep Cameo PCGS. Abe Kosoff, sold privately on 7/23/1973; Harry W. Bass, Jr. Foundation Collection (HBCC# 4022). D.L. Hansen PCGS Registry Set
3. PR65 Deep Cameo PCGS.. Heathrow Collection (American Numismatic Rarities, 3/2006), lot 1517, $55,200; Pre-Long Beach (Goldberg Auctions, 2/2007), lot 2223, $74,750; Pre-Long Beach (Goldberg Auctions, 2/2009), lot 1415, $57,500; Pre-Long Beach (Goldberg Auctions, 9/2011), lot 1992, $52,900.
4. PR65 Cameo PCGS. Classics Sale (American Numismatic Rarities, 9/2003), lot 485, $50,600; Tom Bender PCGS Registry Set
5. PR65 PCGS. Orlando Sale (Stack's, 1/2007), lot 1226, $57,500.
6. PR65 PCGS. "Detroit" (Collection or location?), sold privately in 8/1894; John M. Clapp Collection; John H. Clapp Collection, sold intact via Stack's in 1942; Louis E. Eliasberg, Sr. Collection (Bowers and Ruddy, 10/1982), lot 294, $14,300; Ed Trompeter Collection (Superior, 2/1992), lot 111, $20,900; Americana Sale (Stack's, 1/2004), lot 3080, $43,125.
7. PR65 PCGS. Franklinton Collection, Part II (Stack's, 1/2008), lot 876, $63,250.
8. PR65 Cameo PCGS. Grant Pierce & Sons Collection (Stack's, 5/1965), lot 1256; Charles Jay Collection (Stack's, 10/1967), lot 281; FUN Signature (Heritage, 1/1998), lot 7714, $25,300.
9. PR64+ Deep Cameo Uncertified (grade per John Dannreuther). Acquired directly from the Mint on 3/6/1869 as part of a complete proof set of the year; National Numismatic Collection at the Smithsonian Institution.
10. PR64 Cameo PCGS. Hebbeard Collection (Harlan P. Smith / Bangs & Co., 4/1883), lot 381 (part of a complete 1869 gold proof set, gold dollar through double eagle); T. Harrison Garrett Collection; Robert Garrett Collection; John Work Garrett Collection; (Stack's, 3/1976), lot 431; Huberman Collection (Stack's Bowers, 4/2022), lot 3101, $57,600.
The Heritage cataloger described the coin as simply: The Harry W. Bass, Jr. Collection example is the second finest 1869 proof three dollar known. It exhibits spectacular Deep Cameo contrast with warm orange-gold color and thickly frosted relief elements surrounded by mirrorlike fields.
The Hansen Team took advantage of purchasing the best 1869 Three Proof offered in the 2023 FUN Auctions. As we continue the three-dollar discussion at least in the next post, and I feel sure we will see coins associated with this series several more months. We will watch along and see how the D.L. Hansen Collection of Three Dollar Gold will shape up in 2023. Due to not being successful in purchasing the 1870-S, Mr. Hansen will not be able to duplicate achievement of owning "The Complete $3 Gold Collection". The Bass Collection was described as Harry Bass acquired at least one example of each date and mint of $3 gold coin from 1854-1889, and for some, duplicates illustrating different finishes or varieties. The Core Collection consists of a complete run of proof coins from the first year of issue (1854) to the last (1889), plus circulation strikes of the branch mint issues.
Provenance: Abe Kosoff, sold privately on 7/23/1973 to Harry W. Bass, Jr.; The Harry W. Bass, Jr. Core Collection, Part II US Coins Signature Auction / Harry W. Bass, Jr. Foundation Collection HBCC# 4022, (Heritage 1/2023), lot 9015, realized $114,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1869 Three Dollar, PR65 DCAM Proof
PCGS POP 2/0, CAC Approved (POP 1/0)
Certification #46095410, PCGS #98032
PCGS Price Guide Unknown / Realized $114,000
Ex: Harry W. Bass, Jr.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
I agree. Please keep this going Currin.
I enjoy reading this thread and appreciate you taking the time to keep it going!
I also enjoy this thread and always read the updates.
One of the very few threads I have bookmarked and have read consistently, and have enjoyed for the whole five years. You do a great job @Currin methodically keeping us updated as this great collection continues to grow, and the independent research you do and present is always a must-read.
It's great that a number of your coins are in the collection now! That's very impressive!
Did he ever match Eliasberg and obtain a “complete “ (by Eliasberg standards) set?
I enjoy reading your thread and appreciate all your efforts to provide the forum with this information.
End Systemic Elitism - It Takes All Of Us
Historic Harry W. Bass Jr. Core Collection Part 2 (10 of 13)
Rare! That’s a word that describes the $3 gold series in proof. There’s the possibly unique 1855-S that is graded and authenticated by PCGS. There’s the extremely rare 1854, 1855, 1856, 1857 1858...the highest population of any of these coins is four, and that includes all proof grades! The $3 gold series in proof is rarely collected, due to the price. But what a set it is! Even the most common coin in the series (did we say “common?”) has a population of only 48 coins in Proof 65 or better. PCGS Registry of set of 39 coins.
The second three dollar proof coin purchased in the Harry W. Bass Jr. Core Collection Part 2 sale was the 1865 Restrike. The $3 Gold with Major Varieties and 1855-S, Proof (1854-1889) set expands the basic set by three proof coins from 36 coins to 39. The basic set requires one specimen of the 1873 proof. The date has two varieties and the major variety set requires a specimen of both. David Akers wrote: One variety of the 1873 Closed 3 three dollar gold piece is markedly "dished", that is, it has a convex obverse and a concave reverse. This variety is the so-called "dished restrike". However, Harry Bass claims that the dished pieces are, in fact, the true "originals'. I feel that these dished pieces are merely the proofs with the Closed 3, whereas the other Closed 3 pieces are all business strikes.
He continued with this on the other variety: This variety is generally considered to be the only original three dollar gold piece of 1873, but as I indicated in my comments on the 1873 Closed 3 business strike, I feel that this is in error. In his monograph, Walter Breen claims that the 1873 Open 3 in the ANS Collection must be an original since the ANS pieces were donated by J.P. Morgan, who obtained his coins from R. C. Brock, who had acquired them from the Philadelphia Mint in the year of issue. Actually, this would merely prove that the 1873 open 3 was minted in 1873, not necessarily that it was minted prior to the Closed 3 variety, or that the Closed 3 variety was minted after 1873. If this is the case, then technically speaking, there may be no restrikes of the 1873, since in the strictest sense a restrike is a coin that was minted in a year later than its date. It is indeed possible, and in fact it is my opinion, that all 1873 three dollar gold pieces were minted in 1873, and that all the Closed 3 pieces were minted first. Whatever the case, however, it is obvious from the auction data that the 1873 Open 3, three dollar gold piece is a great rarity. In fact, except for the unique 1870-S, it had the fewest number of auction appearances in our 238-catalogue survey of any coin in the series and has appeared at auction only one fourth as often as the highly publicized and high priced 1875. The 1873 $3 Closed 3 is rarer with survival estimate of about six.
Along with both specimens of the 1873, the other two additions for the Major Variety set are the unique 1855-S branch mint proof and 1865 Restrike Proof Three Dollar Gold Piece (JD-2) with only two known specimens. I was not certain that Mr. Hansen was interested in the expanded Three Dollar Proof set, especially the two ultra-rarities. From an interesting perspective, it does not appear the 1855-S branch mint proof and 1865 Restrike Proof have ever been in the same collection. By bringing them together and completing the 39-piece set could be a first and only time for this remarkable accomplishment. If anyone know for certain, please chime in.
With the purchase of the 1865 Restrike Proof and 1869 Proof, the Hansen Collection has only nine coins missing in the 39-coin set (seven missing in the 36-coin set). Dell Loy Hansen is the only active collector in the registry. He is #6 in the PCGS rankings with all other collections retired. The top all-time set is the recent retired set from the Harry W. Bass Jr. Core Collection that is currently in auction. The Bass set of 38 coins has an amazing GPA of 65.86 but missing one coin, the unique 1855-S branch proof. The second ranked set is from the Tom Bender Collection. This set reached 37 of the 39 coins before tapping out, missing the 1865 Restrike and one of the 1873 varieties, the Closed 3 specimen. The Bender set had superior quality with a GPA of 66.30. The PCGS registry describes the set as: The Bender set is both the #1 Current and All-Time Finest $3 Proof set in the PCGS Set Registry TM. According to Laura Sperber, who encouraged Bender to begin the collection in 2005 and helped him obtain most of the coins, "this is the first $3 Proof Gold set certified by PCGS in 25 years of operation. Even compared to famous early collections, this set still ranks as the finest." Mr. Bender's collection contains some of the legendary rarities in Proof gold coinage, such as the 1854, 1855, 1856, 1873 Open 3, 1875 and 1876 issues. He counts his 1856 $3 gold PR65+DC, the finest graded, as his favorite. "The Proof $3 gold is an undervalued series," he says. "This is due in part to the extreme rarity of the coins. For example, many of the dates only have populations of nine or 10. The 1855 and 1856 only have mintages of five each."
With the Bass Set setting on top of the all-time registry due to completeness and the Bender Set on top for finest (66.30 GPA), there are three additional sets rounding out the top five from the Garrett Collection, Louis Eliasberg, and Smithsonian National Numismatic Collection. With opportunities that are offered in the upcoming Bender and Bass sales, D.L. Hansen has a pathway to get in the discussion with these great sets. The choice to be aggressive in the bidding on the ultra-rare 1865 Restrike was a noteworthy decision in the Bass Part II sale. It will be interesting to see how aggressive the Hansen Team will be when the 1855-S branch mint proof hits the auction schedule. The unique 1855-S will demand much more in price with realizing $1,322,500 in a 2011 Heritage sale.
1865 Three Dollar Gold, Restrike, PR66CAM, CAC, Ex: Woodin / Boyd / Bass, Jr.
Rare JD-2 Restrike c. 1869 or 1870
There is not much information on this extreme rarity. GreySheet writes about 1865 Restrike $3 DCAM JD-2 Proof, “once mistakenly thought to be a pattern and formerly listed as Judd-440. (Heritage Auctions)”. The obverse is described as: The head of a Native American princess with a crown of feathers atop her head. The words UNITED STATES OF AMERICAN circle the periphery from 7 o'clock to 5 o'clock.. The reverse as: A traditional wreath of tobacco, corn, wheat and cotton frames the reverse with a large numeral 3 and DOLLARS centered. The date of the issue appears under the denomination and mint-mark (if any) appears centered under the wreath at 6 o'clock.
In the Harry W. Bass Jr. Core Collection Part 2 sale last week, the cataloger added: Once mistakenly thought to be a pattern and formerly listed as Judd-440, this enigmatic Mint restrike has intrigued collectors since the 1870s. The only two known specimens were believed to be included with the fabled 1865 With Motto sets first sold in 1870. Only two examples of the rare JD-2 die marriage are confirmed, and they are clearly restrikes, utilizing an obverse die that matches a three dollar obverse first seen in 1869, with die lines at LIB of LIBERTY and distinctive die polish lines at Liberty's neck. Filled letters at E of UNITED, the first S in STATES, and at the tops of the A's and R confirm the obverse die.
Harry Bass considered this coin important enough to have in his core collection of The Only Complete $3 Gold Collection. If this coin is required for a complete proof collection, the Hansen Collection has the finest specimen of the two known. The Heritage listing continues with: The 1865 restrike JR-2 proofs cannot be confused with the "original" 1865 JR-1 proofs, since the date is far left and angles upward at the right. Original 1865 proofs employ an obverse from 1864. John Dannreuther's 2018 reference, United States Proof Coins Volume IV, Part One, thoroughly discusses the restrike issue, and the present coin in particular. He notes: "The superb gem Restrike Proof in the Harry Bass Core Collection was described as a Restrike by Dr. J. Hewitt Judd. The Bass coin is from the Judd Collection that later became part of the fabulous gold pattern collection of John Wilkison, Sr. that was sold in 1973. William H. Woodin and F.C.C. Boyd previously owned this exact same rarity, which is the plate coin under Judd 440 in that pattern reference."
The Harry Bass 1865 Restrike, Three-dollar Gold – HBCC #4018 is described on The Harry W. Bass, Jr. Foundation website as: This superb gem Proof was described as a restrike by Dr. J. Hewitt Judd and is pedigreed to the Judd Collection, to the Wilkison Collection of pattern gold coinage and previously from the collections of William H. Woodin and F.C.C. Boyd. This is the plate coin in the Judd reference on pattern coinage for his catalogue number 440. More recently, Andrew W. Pollock, III considered this a regular issue and did not include the coin in his 1992 pattern reference.
Roster of 1865 Restrike Proof Three Dollar Gold Pieces (JD-2) – Heritage Auctions (1/2023)
1. PR65 Cameo PCGS. CAC. (See Provenance below)
2. Proof (Likely PCGS PR63 Deep Cameo). King Farouk; Farouk:324; ANA National Money Sale (Heritage, 3/11-12/1999), lot 5701, $14,950; Kagin's.
In closing, the Heritage cataloger references a gold expert: Dannreuther further notes the Woodin and Boyd connection to the Bass Core Collection coin is possibly uncertain, although he confirms each of those two individuals indeed owned an 1865 restrike proof. What is absolutely certain, though, is that Harry Bass had a special interest in this coin -- a pristine Gem proof, with frosted devices surrounded by watery-mirrored fields and exquisite honey-gold coloration. Bass described the strike as sharp, with "ghosting around the head" and the date "markedly canted up to right." The 186 is weaker than 5, with rough surfaces on the numerals 186. Heritage sold the other 1865 three dollar restrike proof (the former Farouk example) in 1999, an event soon to be eclipsed when this exceptional Harry Bass Core Collection coin is called.
The Harry W. Bass Jr. Core Collection Part 2 sale offered only two Three Dollar Proofs. Dell Loy Hansen and the DLRC Team was able to successful acquire both. I think this confirms the commitment to build a world class Three Dollar Collection. He is not done yet!
Provenance: William H. Woodin; F.C.C. Boyd; Dr. Hewitt Judd; Dr. John Wilkison, Sr.; Tennessee Coin Exchange as brokers for Dr. Wilkison; Julian Leidman and Michael Brownlee as part of the purchase of the gold patterns of Dr. Wilkison; sold as a collection to Paramount Coin Company; privately sold on August 3, 1979; Harry W. Bass, Jr.; The Harry W. Bass, Jr. Core Collection, Part II US Coins Signature Auction / Harry W. Bass, Jr. Foundation Collection HBCC# 4018, (Heritage 1/2023), lot 9014, realized $96,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1865 Three Dollar Gold, Restrike, PR66CAM
PCGS POP 1/0, CAC Approved
Certification #46094733, PCGS #45292
PCGS Price Guide Unknown / Realized $96,000
Ex: Woodin / Boyd / Bass, Jr.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Historic Harry W. Bass Jr. Core Collection Part 2 (11 of 13)
A 1798/7 BD-2 Eagle, MS62 was the fourth lot to reach seven figures when it ended at $1.11 million, surpassing the previous record of $705,000. It is the third-finest known example, and one of the two above it is housed in the Smithsonian Institution. - Heritage Auctions Press Release - January 6, 2023.
In a very unusual fashion, the D.L. Hansen Collection improved the core collection with just one upgrade coin purchased from the Historic Harry W. Bass Jr. Core Collection Part 2 sale. The upgrade was the only coin purchased by Hansen to reach seven figures. This coin improves the Early $10 Gold with Major Varieties, Circulation Strikes (1795-1804) set
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 Registry (2023).
Challenging enough! This is an understatement. The Hansen Collection has an amazing 1795 “9 Leaves”, MS63. The D.L. Hansen Team purchased the coin in August 2019 in the sale of The Anthony J. Taraszka Collection realizing $630,000. Today, PCGS Price Guide values the coin at $1,750,000! The upgrade of the 1798/7 7X6 Stars with the Bass specimen adds the second million dollar coin to this 14-pirce collection.
On November 21, 2022, less than two months ago, I wrote: Finally, the hunt for the 1798/7 Capped Bust Right Eagle, 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. He won the 1798/7 Capped Bust Right Eagle, Stars 7x6 specimen from the Jacobson Collection with a PCGS graded of F15. With the Core Collection that Dell Loy Hansen is building, this coin was not a great fit. For example, the Hansen’s 230-piece 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 1872-CC AU50 that is an Ex: Hall / Simpson. There is a lonely 1864-S XF45 and then comes the 1798/7 Capped Bust Right Eagle, Stars 7x6, PCGS F-15. The fifth coin is the ungraded 1933 that Mr. Hansen purchased in 2019 in The Poulos Family Sale. The coin is tied to the S. Hallock Dupont Collection. With The Harry Bass upgrade, the 1798/7 $10 7X6 Stars is replaced with an amazing MS62 specimen and leaves the 1864-S, XF45 and the 1933, N1 as the only eagles graded below AU50.
.#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, Replaced with Bass MS62, PCGS POP 2/1, realized $1,110,000
.#230) 1933, N1 PCGS, POP 2/11, Purchased in 2019 auction realized $300,000
I did not realized upgrading this one coin would elevate the Hansen set from #3 spot in the All-Time Ranking to the top, but that certainly is what happened. The Harry Bass Set is dropped to second spot with Jay Parrino’s St. Jude Gold as #3 ahead of the Smithsonian National Numismatic Collection set. Rounding out the top five all-time is the Schwenk set owned by one of our regular forum members.
This is an early gold set of eagles, so you may not would expected the score card to be comparable to Hansen’s overall standards, but it’s pretty darn good. Other than being All-Time number #1, these are the other key indicators in the Hansen 14-piece set:
1 Coin -- PCGS POP 1/0, Sole Finest, highlighting the amazing 1804 “Crosslet 4”, PCGS MS64.
3 Coins - PCGS Certified One Finer, highlighting new Bass 1798/7 “Stars 7X6”, PCGS MS62, POP 2/1.
3 Coins - PCGS Condition Census Top Five, highlighting the remarkable 1795 “9 Leaves” MS63, POP 2/2
With this upgrade, the early eagle set is 50% 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 1797 “Small Eagle”, AU53, PCGS POP 9/15. With two more Bass sales scheduled, this may not be the end of the upgrades for this set.
1798/7 Eagle, Stars 7x6, MS62, Ex: Harry W. Bass, Jr.
Elusive 7x6 Stars Variety, Tied for Third Finest Known
Expert David Akers wrote a few decades ago: 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 issue 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 separately in auction catalogs.)
PCGS CoinFacts gives the survival estimate to be 25 in all grades. Oddly enough, PCGS has not graded any specimens with grade of choice MS63 or better. The National Numismatic Collection at the Smithsonian Institution has a specimen with MS63 estimated grade. PCGS shows 12 grading events with three MS62 and one of the three has a plus. There are two MS61 which gives PCGS a total five MS. The finest NGC grade is a sole AU55. Up to this point, there have not been any MS graded coins that have a CAC Approved sticker.
In the January 2023 sale of The Harry W. Bass, Jr. Core Collection, Part II US Coins Signature Auction, the cataloger wrote: The 1798/7 BD-2 eagle that Mr. Bass included in his collection is tied for the third finest known, while the finest known is permanently in the National Numismatic Collection at the Smithsonian Institution. The second finest known is only marginally finer than the Bass coin. While the central details of this example are a trifle weak, the strike is nicely centered with full, even borders. Both sides exhibit brilliant yellow-gold surfaces with full luster and tinges of pale orange toning. Trivial, grade-consistent marks are evident in the fields. This is an exceptional piece that will make a nice addition to the advanced early gold collection.
1798/7 Ten Dollar, 7x6 Stars, BD-2, Taraszka-10, Breen 2-A (the only 7x6 Stars variety)
1. MS63 Uncertified. National Numismatic Collection at the Smithsonian Institution (grade per Jeff Garrett).
2. MS62+ PCGS. Illustrated at PCGS Coin Facts. Ex: William F. Gable Collection (S.H. Chapman, 5/1914), lot 207. Later provenance is unknown.
3. MS62 PCGS. "Colonel" E.H.R. Green Collection; King Farouk Collection (B. Max Mehl, 3/1948), lot 273, $1,050; Grant Pierce & Sons (Stack's, 5/1965), lot 1436; James and Margaret Carter Collection (Stack's, 1/1986), lot 179; Dr. Juan Suros Collection (Superior, 2/1999), lot 251, $189,750; Rarities Sale (Bowers and Merena, 1/2003), lot 709, $178,250; Baltimore ANA (Bowers and Merena, 7/2003), lot 4040, $276,000; FUN Signature (Heritage, 1/2004), lot 3057, $218,500.
4. MS62 PCGS. RARCOA, sold privately on 2/3/1975; Harry W. Bass, Jr. Foundation Collection (HBCC# 3181). D.L. Hansen Core Collection
5. MS61 PCGS. Harold P. Newlin Collection, sold privately on 10/31/1884; T. Harrison Garrett Collection; Robert Garrett Collection; John Work Garrett Collection (Bowers and Ruddy, 10/1980), lot 1660, $120,000; D. Brent Pogue Collection, Part II (Stack's Bowers & Sotheby's, 9/2015), lot 2097, $705,000.
6. MS60 Uncertified. National Numismatic Collection at the Smithsonian Institution (grade per Jeff Garrett).
7. AU58 PCGS. ANA Money Show (Superior, 3/2001), lot 858, not sold.
8. AU58 PCGS. David-Graves Collection (Stack's, 4/1954), lot 910; Norweb Collection, Part II (Bowers and Merena, 3/1988), lot 2138, $55,000; New Orleans Collection (Heritage, 4/2015), lot 5384, $329,000.
9. AU58 PCGS. "Rutherford" in 3/1897; John M. Clapp Collection; John H. Clapp Collection, sold intact via Stack's in 1942; Louis E. Eliasberg, Sr. Collection (Bowers and Ruddy, 10/1982), lot 650, $50,600; Stack's (1/1987), lot 705; Rarities Sale (Stack's Bowers, 8/2016), lot 3281, $352,500.
10. AU58 PCGS. "Colonel" E.H.R. Green Collection; Stack's, sold privately in 1945; James A. Stack, Sr. Collection (Stack's, 3/1995), lot 555, $73,700; Anthony J. Taraszka Collection (Stack's Bowers, 8/2019), lot 4015, $384,000; Tyrant Collection (Coin 10, displayed at the 2/2020 Long Beach Expo).
11. AU55 NGC. Byron Reed Collection (Spink America, 10/1996), lot 152; Long Beach Connoisseur (Bowers and Merena, 8/1999), lot 422; The Cincinnati Collection (FUN Signature, Heritage, 1/2005), lot 8820.
12. AU50 PCGS. Michael Keston Collection (Superior, 1/1996), lot 158; Richmond Collection (David Lawrence Rare Coins, 7/2004), lot 2006; Dr. James A. Ferrendelli Collection (Stack's Bowers, 8/2014), lot 11109.
13. AU50. Amon G. Carter, Jr. Family Collection (Stack's, 1/1984), lot 733.
14. AU. Wolfson Collection (Stack's, 10/1962), lot 622; Dallas Bank Collection (Sotheby's/Stack's, 10/2001), lot 380.
15. AU. Stack's (6/1993), lot 1348.
16. AU Damaged PCGS Genuine. Rare Coin Auction (Superior, 2/1973), lot 616; Bowers and Ruddy (2/1974), lot 774; Fairfield Collection (Bowers and Ruddy, 10/1977), lot 1788; Auction '90 (Superior, 8/1990), lot 1343; Bowers and Merena (5/1993), lot 677; Goldberg Auctions (6/2000), lot 1434; Heritage (8/2009), lot 1287; Heritage (1/2013), lot 5900.
17. Fine 15 PCGS. Bowers and Merena (11/1993), lot 1513; Stack's (8/2007), lot 3296; Harvey B. Jacobson Collection (Stack's Bowers, 11/2022), lot 4012. D.L. Hansen Collection - #2 Set
The Hansen Collection replaces the F15 specimen after being in the core collection for less than two months. We will know in time if the Harvey B. Jacobson F15 specimen remains in the collection or will be offered in a future sale.
Provenance: RARCOA, sold privately on 2/3/1975; Harry W. Bass, Jr. Foundation Collection (HBCC# 3181).; The Harry W. Bass, Jr. Core Collection, Part II US Coins Signature Auction / Harry W. Bass, Jr. Foundation Collection (Heritage 1/2023), lot 9061, realized $1,110,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1798/7 Eagle, Stars 7x6, MS62
PCGS POP 2/1
Certification #46092781, PCGS #45721
PCGS Price Guide $1,000,000 / Realized $1,110,000
Ex: Harry W. Bass, Jr.
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My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Major Varieties – Countdown 9
Historic Harry W. Bass Jr. Core Collection Part 2 (12 of 13)
D.L. Hansen Core Collection of Quarter Eagles
Finally, the hunt for the last quarter eagle is over. Harry W. Bass Jr. Core Collection Part 2 provided the coin that Mr. Hansen needed to complete Draped Bust (1796-1807) series which was the last coin missing in the 197-piece entire circulating strike quarter eagle core collection. The coin falls a little short (POP 2/7) of being a PCGS Top Five, but six and half years to reach that accomplishment, who’s complaining. For whatever the reason, this has been a tough coin to acquire. As we have seen before, better coins will now come out of the woodwork, maybe.
As you can see, the quarter eagle collection has 21 PCGS sole finest specimens with 14 specimens from the Liberty Head Set. Another 32 specimens are tied for finest that results in the complete 197-piece set being 26.9% PCGS finest. Maybe more importantly, the Hansen Collection of Eagles are slightly over 76% PCGS Top Five specimens. This is slightly off pace of the entire 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 improve with future upgrades.
If you have been following this real-time documentation of this historic collection, you will know that the DL Hansen Comprehensive Collection of US Coinage is a collection of registry sets. What I call the US Mint Strike Issues is the core of the collection consisting of 69 sets. At the start of this endeavor, I identified the missing coins needed to complete a collection similar to Louis Eliasberg achievement of a Complete US Collection. As Hansen sets grow over time, Mr. Hansen branched out into the Major Variety sets. Therefore, I created a second countdown list to track the missing major varieties. With the purchase of the 1798 quarter eagle, “Wide Date” variety, the missing count is down to nine coins.
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 nine 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 4
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 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)
Spoiler Alert. The last update for the Harry Bass Part 2 sale which will post soon is another count down coin on this list. Watch for the next update. It turned out of be almost a seven-figure coin.
1798 Quarter Eagle, “Wide Date”, MS60, Ex: Harry W. Bass, Jr.
Decades ago, Expert David Akers shared some light on this coin: There are two main varieties for this year. the first has a compact date and 4 berries on the reverse. The other major variety, significantly rarer, has a widely spaced date and 5 berries on the reverse. Both varieties of this year have a unique obverse star configuration; namely 6 stars to the left, and 7 to the right. No other date of this type has a similar arrangement. By far, the finest 1798 quarter eagle that I have seen was a gem owned a few years ago by Stack's.
In a more recent commentary, Gordon Wrubel wrote: There are only two die varieties of 1798 $2 1/2-dollar gold pieces. These are comprised of two distinct obverses and reverses: The Close Date with a 4 Berry reverse, Bass-Dannreuther, BD-1, and the Wide Date with a 5 Berry reverse, BD-2. While both varieties are rare, the Bass-Dannreuther research has shown that the former, BD-1, is about TWICE as rare as the latter, BD-2, in all grades including Mint State.
I think it would be a fair statement to say this has been a difficult coin for Dell Loy Hansen to obtain. From the standpoint of quantity and fineness, the coin is a little short on quality to be in the Bass or Hansen Collections. Although, the coin fills a need in the Hansen Core Collection, but it is inferior to about 80% of the coins in the collection. On the Harry W. Bass, Jr. Foundation website, there was no mention of quality and grade. The description read as: This is the second variety of 1798 quarter eagle coined, featuring a widely spaced date in comparison with the other variety, HBCC-3005, and five berries in the branch on the reverse. This reverse die was also used to produce certain varieties of dimes from the same era. Dimes and quarter eagles were closely similar in diameter-thus single reverse dies could, and did, serve double-duty. For many years, Walter Breen considered this to be the rarer of the two 1798 die varieties. Later research shows that this variety is actually slightly more common. Approximately 80 examples are known.
PCGS CoinFacts gives the survival estimate to be 50 in all grades, with nine that are mint state MS60 or above. PCGS shows 24 grading events with three MS61 and four MS62 which are finest. There are two MS60 specimens which one is the Bass/Hansen specimen. In auctions, there have not been a certified coin graded higher that MS62 in history. The most recent auction for a MS62 dates back to Stacks Bowers February 2016 Rarities sale. There was a reference in the sale that the finest certified MS-64, but it is not really clear if the coin is of this variety.
The Heritage cataloger described the coin as: This rich green-gold example exhibits reflective fields that frame the softly lustrous devices. Scattered marks on each side prevent a higher grade despite exceptional eye appeal at this numerical level. Most of the peripheral design elements are nicely defined while central strike weakness is evident on the obverse.
As with a couple Bass coins that has been purchased by the Hansen Team so far, I am certain that Mr. Hansen would prefer 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 for the Bass MS60 POP 2/7. If the opportunity is right, Mr. Hansen may desire to upgrade the coin at some point in the future. At the end of the day, the Hansen Collection can check off the 197-piece entire circulating strike quarter eagle core collection as being completed.
Provenance: (Stack's 2/1974), lot 496; Gibson and Groves Collections, (Stack's 11/1974), lot 490; Stack's (privately, 12/1974);Harry W. Bass, Jr. Foundation Collection (HBCC# 3006).; The Harry W. Bass, Jr. Core Collection, Part II US Coins Signature Auction / Harry W. Bass, Jr. Foundation Collection, (Heritage 1/2023), lot 9004, realized $84,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1798 Quarter Eagle, “Wide Date”, MS60
PCGS POP 2/7
Certification #46092646, PCGS #45505
PCGS Price Guide $140,000 / Realized $84,000
Ex: Harry W. Bass, Jr.
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My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
I was able to purchase 3 more coins at the fun sale. The collection is now missing 2 coins. I am negotiating to buy a 1798/7 7x6 stars. I have yet to find an 1804 I like in my price range.
Thanks for sharing. Great set of early Eagles. As PCGS describes: you have a magnificent collection, indeed. I sure you know already, Heritage Auction is offering The Riverboat Collection of Early Eagles in the Long Beach Auction next month. The 1804 offered is a MS61 PCGS. The Ex: Norweb 1798/7 Eagle, BD-2, AU58 is going to be very pricey. They could complete your collection! Hope you can find the last two coins! Completing this set would be amazing.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Major Varieties – Countdown 8
Historic Harry W. Bass Jr. Core Collection Part 2 (13 of 13)
D.L. Hansen Core Collection of Quarter Eagles
This is the final update from Harry W. Bass Jr. Core Collection Part 2 sale. Let’s do a recap of the first two sales. The press release from the first sale: 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)
The Hansen Collection only added five coins from the Part 2 sale. They missed out on purchasing the unique 1870-S Three Dollar Gold, but the Hansen team still made some great purchases. The five coins range in price realized from $84,000 to $1,100,000. All five coins made significant improvements to the core collection. In Sale 2, Heritage press release: The auction was enormously successful by any metric: of the 103 offered lots, 30 established new records. The event was the second installment of the collection of Harry W. Bass; proceeds from the uction will benefit the dozens of Dallas-based nonprofits supported by the Harry W. Bass Jr. Foundation, with a particular emphasis on early childhood education and literacy in Dallas. Part I reached $20,459,645 Sept. 29. "Heritage Auctions delivered more than $24 million (Realized $24,322,741) in winning bids for the Bass Foundation tonight, and nearly $44.5 million over the first two parts of this extraordinary auction, and we know the foundation will put these proceeds to great use amongst the charities they support," Heritage Auctions Executive Vice President Todd Imhof said. "Our sale of Part II of the Bass Foundation's rare coins tonight delivered numerous world records and shows this bull market in the rare coin hobby continues."
In the first two sales, the combine coins offered was 208. Mr. Hansen and the DLRC team purchased 13 coins or 6.25%. The two sales have realized $44,782,286. The Hansen purchases have totaled $4,723,200 or 10.5%. The average Bass coin has realized $215,300. The average coin that the Hansen team purchased realized $363,323. As you can see, the Hansen purchases have been more on the high end of the coins offered. I will concluded today with one of those high end purchases. The last coin is number eight on the countdown.
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 eight 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 3
1842 Half Dollar "Small Date, Rev of 1839" (Survival est. 10 w/ 1 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)
The Bass sale is at the half way point. Will the next two sales top $20M each? We will have to wait and see. There are still some great coins to be offered and the Hansen Core Collection is still missing a few. Bass Part 3 is being held by Heritage’s US Coins Signature Auction in association with the CSNS show in May 2023. We will have to wait and watch to see what happens.
1820 Half Eagle, Curved 2, Small Letters, MS64+, CAC, Ex: Clapp/Eliasberg/Bass
The Second Finest of the Variety
David Akers wrote: As a date, the 1820 is one of the more "common" dates of this type. However, it is much more rare than the 1813, and slightly more rare than the 1814/3 and 1818. The Curved Base 2 and Square Base 2 varieties of 1820 are of comparable rarity but when the Curved Base 2 variety is broken down to Small Letters and Large Letters varieties, each becomes more rare than the Square Base 2 variety which only comes with Large Letters on the reverse. The Large Letters and Small Letters varieties of the 1820 Curved Base 2 are of approximate equal rarity and actually none of the three varieties of 1820 is likely to realize a premium over the other two in similar condition. Most known specimens of the 1820 Curved Base 2, Small Letters are quite high grade, AU or Unc. being the grades typically available. The Small Letters variety is easily distinguishable from the Large Letters variety by examining the word STATES. On both the Small Letters variety all the letters are of equal height while on the Large Letters variety, both ot the T's appear larger than the other letters.
More recently, P. Scott Rubin added: The 1820 Curl Base 2, Small Letter Reverse Half Eagle is one of three varieties of 1820 Half Eagles and appears to be the rarest of the three. The other two are the 1820 Curl Base 2, Large Letter Reverse and the 1820 Square Base 2 Half Eagles. While the 1820 Square Base 2 is the most common of the varieties it has been estimated that both varieties of the 1820 Curl Base 2’s are of equal rarity. However in recent years -- at least during the 21st Century -- more of the 1820 Curl Base 2, Large Letter Reverses have appeared at auction than the 1820 Curl Base 2, Small Letter Reverse variety by more than two to one. In the February 2016 Sotheby’s/Stack’s-Bowers auction of the D. Brent Pogue auction part III, three 1820 Curl Base 2 Half eagles were offered, two were Large Letter Reverse examples and one was a Small Letter Reverse. Both Large Letter coins were graded MS-65+ by PCGS while the Small Letter coin was graded MS-66+ and the Small Letter coin realized $282,000 while each of the Large Letter 1820 coins brought $188,000 also the 1820 Square Base 2 Half Eagle graded MS-65+ by PCGS in the same sale realized $129,250.
PCGS CoinFacts gives the survival estimate to be 14 in all grades, with six that are mint state MS60 or above. PCGS shows only four current grading events with one MS62, one MS63, one MS64 and the sole finest PCGS graded Clapp/Eliasberg/Bass/Hansen MS64+ specimen.
The Heritage cataloger for the Bass sale described the coin as: In a word, this piece is exquisite. Both sides have mostly mirrored fields that show areas of mint frost behind Liberty's head and below the eagle's wings. Those areas of mint frost are virtually identical on the Pogue coin. There is also a minuscule area of mint frost above the upright of the D in the denomination on both coins. The surfaces are brilliant green-gold with a few trivial marks of no consequence, and the strike is full, suggesting that extra care was taken at the time this coin was struck just over 200 years ago. It is the quality that past catalogers might have called "Semi-proof." The present piece is the highest graded example of just four submissions of the Curl Base 2, Small Letters type that currently appears in the PCGS population report (11/22). The finer Pogue coin was graded MS66+ PCGS when it was offered in 2016, but that entry no longer shows in the PCGS data.
When the bidding stopped on the coin, Hansen took it home for $900,000. PCGS Price Guide at the time of the sale was $375,000. What is better way to place a bow on the Bass Part 2 sale than paying 240% for a Bass coin! This is not the end of this story. Keep an eye out because there are two sales yet to come.
Provenance: S.H. and H. Chapman (privately, 12/1893); John M. Clapp Collection; John H. Clapp Collection, sold intact via Stack's in 1942; Louis E. Eliasberg, Sr. Collection (Bowers and Ruddy, 10/1982), lot 376, $26,400; Harry W. Bass, Jr. Foundation Collection (HBCC# 3140); The Harry W. Bass, Jr. Core Collection, Part II US Coins Signature Auction / Harry W. Bass, Jr. Foundation Collection, (Heritage 1/2023), lot 9043, realized $900,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1820 Half Eagle, “Curl Base 2, Small Letters”,MS64+
PCGS POP 1/0, CAC Approved
Certification #46092551, PCGS #519925
PCGS Price Guide $375,000 / Realized $900,000
Ex: Harry W. Bass, Jr.
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My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
The 2023 FUN US Coins Signature Auction – Tom Bender Seated Liberty Dimes
Record 10 Lots Exceed $1 Million Each, Leading Heritage FUN Auctions Beyond $88 Million
In a Heritage press release, they describe the sale as: Coupled with the $12,079,520 from Heritage's FUN Currency Signature Auction, the combined total for the events climbed to $63,937,490. Add in The Bass Collection, Part II US Coins Signature® Auction - Orlando FUN that brought $24,322,741 Jan. 5 and Heritage Auctions has sold $88,260,231 in U.S. coins and currency in just the first two weeks of 2023. Although not the most expensive lot, perhaps more impressive was an 1870-S Seated Liberty Half Dime, MS64, (from The Bender Family Collection, Part II) which prompted more than six dozen bids before it closed at $3.12 million, smashing the previous record, set in 2005, of $661,250. This extraordinary coin is from the Bender Family Collection, and its existence was completely unknown for more than a century.
This post will start the updates for the 2023 FUN US Coins Signature Auction. This auction contained Bender Family Collection Part II including the rare 1870S Half Dime and a set of proof 3-dollar gold coins. The auction offered 1944 items totaled. There was a separate sale in an exclusive session for some highlights of Tom Bender coins. In this Bender Family feature sale of 117 lots, the coins offered were 40 Small cents, two half Dimes including the 1870-S, 53 dimes, and 22 three-dollar gold coins.
There were several headliner coins in the 2023 FUN US Coins Signature Auction. There are only three unique Basic US Mint Strike Issue specimens. They are the 1870-S Half Dime, 1870-S Three Dollar, and 1873-CC No Arrows Dime. Amazingly, all three were offered in January FUN Auctions, with the Bass 1870-S $3 and Bender 1870-S Half Dimes in their exclusive sales. The unique dime was in this FUN US Coins Signature Auction.
In an effort to take a quick break from Hansen’s parade of gold, I will sandwich this Bender dime update between the Bass Gold and the Bender Gold. The Tom Bender exclusive sale offered 53 dimes, including three early dimes, nine bust dimes and 41 seated liberty dimes. The Hansen team only purchased a handful of the Seated Liberties. It appear the dimes were not a focus for Mr. Hansen in this sale.
As everyone is certainly aware, the Bender Seated Liberty Dimes were world class. From this world class collection, there 41 seated dimes offered in the exclusive sale. Of those, I have identified 15 that could improve the Hansen Core Collection. The 1844 MS65 Bender coin that replaces a XF45 which would make a great upgrade. The entire group of 15 coins had a PCGS value of $338.250. There are no extremely expensive or great rarities in this sale, but there were two sole finest PCGS Pop 1/0 specimens. The Hansen Team was successful purchasing three coins, including the 1844 and one of the two PCGS POP 1/0 specimens.
I have chosen to feature the POP 1/0 specimen that the Hansen team picked up. It was not the most expensive seated dime purchased, but it did significantly improve the core collection.
1853-O Seated Liberty Dime, with Arrows, MS66, Ex: Carter / Gardner / Bender
Single Finest at PCGS
Our Ron Guth, a Numismatic Detective wrote: In 1853, both the Philadelphia and New Orleans Mints were busy cranking out millions of the new With Arrows Dimes to replace the old, heavier weight Dimes that were in circulation at the time. As a result, the mintage of the 1853-O Dime is nearly triple that of the previous year. Despite the increased mintage, the 1853-O Dime is a true rarity in Mint State, and it is, in fact, the rarest of the six With Arrows Dimes. Less than a dozen Mint State 1853-O Dimes exist, and few are nice. The best example is the PCGS MS66 from the Eugene Gardner Collection This colorful example is two points ahead of its nearest competitor. Researcher Gerry Fortin has identified eight different die varieties for this year. All of the varieties are of roughly the same rarity.
The new Hansen coin from the Tom Bender Collection is the specimen that Mr. Guth describes as the best example is the PCGS MS66. PCGS CoinFacts gives the survival estimate to be 300 in all grades, with 17 that are mint state MS60 or above. The Gardner/Bender/Hansen is the GEM in the report. PCGS shows nine grading events for Choice MS63. The numbers drop quickly after MS63, with only two MS64 and the finest MS66.
In October 2014 sale of the Eugene H. Gardner Collection II in Heritage’s US Coins Signature Auction in New York, the cataloger described the coins as: This satiny Gem displays fully brilliant luster beneath light champagne on both sides, within a frame of peripheral blue and iridescent toning. The strike is exceptional, especially for a New Orleans Mint product. Among the 10 Mint State 1853-O dimes that PCGS has certified is this MS65, the single finest example that they have examined. NGC records a single finer piece in MS66. The reduced weight of the subsidiary silver coins in 1853, denoted by arrowheads at the date, was intended to promote circulation. Apparently, it worked, as New Orleans minted 1.1 million of these dimes in 1853, and only 16 are recorded in Mint State grades by PCGS and NGC. NGC POP Report has the MS66 specimen listed, but it has never appeared in auction. So, it buried somewhere out there, if it exists. Is it the finest?
A past owner Eugene Gardner commented: A remarkable coin in a way sharper than its grade, but the grade is limited by a significant tick on Liberty's right thigh. Otherwise the strike is sharp, all stars show their radials, and the toning even and natural. The coin has to rank high in the Condition Census, if not at the top. In a final word given by the recent cataloger, PCGS Population for the 1853-O shows only a single piece graded finer than MS64: the present lot. Similarly, at NGC, one coin is certified finer than MS64, as MS66. Thus this Premium Gem is tied with the NGC piece for the honor of single finest certified. It benefits from medium golden-brown and lilac toning with deeper peripheral shades of sea-green, blue, and orange. The date and arrows are hubbed on this issue, yet the scarce Fortin-107 is easy to attribute. The drapery west of Liberty's pole is prominently lapped, and the mintmark tilts slightly left. Circular lathe lines (as made) are noted on the drapery near the chest and east of the shield. Clashed near the U in UNITED.
I hope you enjoyed this short break in gold. In my next post, we will start a series updates to what is described by PCGS in just one word: Rare!
Provenance: Jason Carter, sold privately in 11/2004; Eugene H. Gardner Collection, (Heritage 10/2014), lot 98254, realized $10,575, Tom Bender PCGS Registry Collection; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3368, realized $26,400; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1853-O Seated Liberty Dime, with Arrows, MS66
PCGS POP 1/0
Certification #25672455, PCGS #4604
PCGS Price Guide $26,400 / Realized $25,000
Ex: Carter / Gardner / Bender
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My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
The 2023 FUN US Coins Signature Auction – Tom Bender Three Dollar Gold Proof (1 of 7)
The Tom Bender Collection of $3 Proof Gold
In a Heritage November 7, 2011 press release by BJ Searls, she writes: With the completion of his $3 Proof Gold Collection - literally the first complete certified $3 Gold Proof set ever assembled - Tom Bender has joined an exclusive group of collectors. The names Bass, Garrett, and Trompeter are legendary in American numismatics. These, and perhaps only a few others, are the collectors who assembled complete sets of Proof $3 coins. Very few collectors have classical era (1792-1964) proof gold coins among their holdings and even a single proof is highly prized. To complete the 1854-1889 $3 series in proof is a rare occurrence, to say the least. He counts his 1856 $3 gold PR65+DC, the finest graded, as his favorite. "The Proof $3 gold is an undervalued series," he says. "This is due in part to the extreme rarity of the coins. For example, many of the dates only have populations of nine or 10. The 1855 and 1856 only have mintages of five each." The Proof $3 Gold set had its origin at the Heritage Coin Auction at the 2005 FUN show. Legend Numismatics President Laura Sperber recommended that he buy an 1862 $3 gold piece in Proof 65 Deep Cameo, and the rest is history. The final coin, the 1865, came just recently in a private sale, and finally, Tom's $3 Proof Gold set was complete!
In this article published more than a decade ago, Mr. Bender said ”The Proof $3 gold is an undervalued series.” Now in 2023, that statement may not hold as true as it did in 2011. There are two great Three Dollar Gold Proof Collections being offered by Heritage and they are realizing record shattering results. In comparing the Three Dollars Proofs that Mr. Hansen purchased in the two January offerings, he certain received a bigger bang with the Bender proofs. I will dig a little deeper in the Bender proof purchases next posting. From what we are seeing in the 2023 FUN US Coins Signature Sales, Mr. Hansen has a full attention and focus on the Three Dollar Gold Proofs.
I am not sure why the registry set is showing one coin missing from the Bender set. The missing coin is the Bender 1883 Three Dollar Gold, PR67 Deep Cameo. It was lot #3414 in the FUN-Bender sale, and realized $198,000 as the PCGS POP 1/0 specimen. The coin was purchased by our Blue Devil friend and currently being used in his amazing U.S. Proof Type Set collection. It is puzzling why it was dropped from the Bender set. As you can see below, Mr. Bender was awarded the PCGS Hall of Fame for his Proof Three Dollars. In the 2011, PCGS wrote honoring the award: Another new set, taking away both a Gold Star award as well as a Hall of Fame win in its first year! And no wonder…. With a Set Rating of 66.27 and a completion rate of 100%, it’s a mind boggling assemblage of some of the rarest U.S. coins. Containing pieces from such collections as Bass, Garrett, and Trompeter and with no fewer than fifteen absolute finest knowns (pop 1, none higher) this set leaves even the most experienced numismatists speechless. In 2011, Tom added an 1855-S to his Major Variety Set, and so that set is included as a HOFer. Well done Tom! Even with the missing coin, the Bender set remains on top of the PCGS Registry.
There were 22 Three Dollar Proofs from The Bender Family Collection, Part II sale offered in the Heritage January 2023, FUN US Coins Signature Auction. The Hansen team wasted no time and successfully purchased the first lot offered, the 1854 Three Dollar, PR63 Cameo. This is the first coin required in the complete Three Dollar Gold Proof set and will be the first coin that I will feature from this sale.
1854 Three Dollar Gold, PR63CAM, Ex: Tom Bender Collection
Only 10 to 12 Pieces Extant, CAC Approval, Deeply Mirrored With Great Color
Our Numismatic Expert Ron Guth comment: In 1854, the Mint began striking a new gold coin denominated at three dollars. A letter in the Mint records at the National Archives, dated April 28, 1854, records the transmittal of fifteen "specimens" from Mint Director James Ross Snowden to the Secretary of the Treasury. Most researchers assume the fifteen "specimens" were Proofs, though there is no evidence to confirm that assumption except for the existence of an inordinately large number of Proof Three Dollar gold piece relative to the other gold denominations of the year. If the fifteen "specimens" were indeed Proofs, then the total mintage for the 1854 Three Dollar gold piece is at least eighteen, as an additional example resides in the National Numismatic Collection at the Smithsonian Institution and two more pieces appeared in the 1870 sale of Chief Engraver James Barton Longacre's estate. In 1975, David Akers knew of "perhaps 5 or 6" examples. In 1989, Breen listed six different examples from two die pairs, plus five other potential candidates.
So, what do we know today? PCGS CoinFacts gives the survival estimate to be eight in all grades with all PR60 or better (although PCGS has a grading event for a PR58 which is currently a Hansen duplicate), and only three specimens GEM PR65 or better. I am not sure where there are three estimated GEMs? There have only been only one GEM to sell in recent auction. In the September 2022 sale of the Historic Harry W. Bass Jr. Core Collection Part I at the US Coins Signature Auction held by Heritage at Long Beach, the Bass 1854 Three Dollar, PR65 Cameo was showcased as finest known. The National Numismatic Collection specimen at the Smithsonian Institution is grade PR63 Cameo per John Dannreuther. The Ohringer PCGS PR64+ Cameo, CAC specimen appeared in a 2013 sale showcased as one of the Three Finest Certified.
PCGS shows nine grading events with three non-cameo, three PR62 and one PR58 mentioned earlier. There are five cameo grading events, including two PR63 Cameo including the Bender/Hansen. According to the current PCGS POP report, there is only one PR64 Cam and One PR64+ Cam (mentioned earlier). The finest in the report is the Bass PR65 Cam. POP reports and grading events can be misleading and confusing. In the recent Bender sale, the cataloger tried to add some clarity.
The Heritage cataloger wrote: The three dollar gold denomination was introduced in 1854. Circulation strikes were manufactured to the extent of 138,618 coins, and 20 proofs are believed to have been struck for collectors. Both of those mintages were high for the period, making the 1854 a popular choice for type representation. That said, John Dannreuther (2018) estimates that only 10 to 12 examples survive in proof format. Although it has been suggested that two die pairs were used to strike the proofs, recent research indicates that a single die varieties exists, but in two different die states. Some coins are deeply mirrored with frosty devices, as here, while others have "shallow mirrors and only light frost," according to Dannreuther.
A Roster of Significant Examples Provided by Heritage Auction #1356, Lot #3396
1. PR65 Cameo PCGS. Abe Kosoff, sold privately on 8/3/1971; Harry W. Bass, Jr. Foundation Collection (HBCC# 4001); Harry W. Bass, Jr. Collection, Part I (Heritage, 9/2022), lot 11018, $312,000.
2. PR64+ Cameo PCGS. CAC. John Story Jenks Collection (Henry Chapman, 12/1921), lot 5782; John H. Clapp Collection, sold intact via Stack's in 1942; Eliasberg Collection (Bowers and Ruddy, 10/1982), lot 272, $39,600; Ed Trompeter Collection (Superior, 2/1992), lot 96, $44,000; Ohringer Family Trust Holdings, Part II (Goldberg Auctions, 9/2008), lot 1231, $149,500; FUN Signature (Heritage, 1/2012), lot 4815, $138,000; Baltimore Auction (Stack's Bowers, 6/2012), lot 4244, not sold; New York Signature (Heritage, 11/2013), lot 3837, $164,500.
3. PR64 Cameo PCGS. John Work Garrett Collection; Johns Hopkins University Collection, Part I (Bowers and Ruddy, 11/1979), lot 417, $45,000; Wayne S. Rich Collection (Bowers and Merena, 3/2002), lot 192, $73,600.
4. PR63 Cameo PCGS CAC. Tom Bender PCGS Registry Collection; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3396, realized $108,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
5. PR63 Cameo PCGS. Baltimore Auction (Bowers and Merena, 3/2005), lot 2279, $89,700.
6. PR63 Cameo PCGS. Chicago 1991 (RARCOA, 8/1991), lot 957, $17,600; Pre-Long Beach (Superior, 5/2003), lot 3628, $51,750; Dr. Robert J. Loewinger Collection (Heritage, 1/2007), lot 3121, $74,750; Pre-Long Beach (Goldberg Auctions, 2/2008), lot 2340, $97,750; Pre-Long Beach Sale (Goldberg Auctions, 9/2009), lot 3346, $66,125; FUN Signature (Heritage, 1/2010), lot 2144, not sold; Boston Signature (Heritage, 8/2010), lot 3461, not sold; Chicago ANA (Stack's Bowers, 8/2011), lot 7634, not sold; Philadelphia Signature (Heritage, 8/2012), lot 5329, $64,625; Summer FUN Signature (Heritage, 7/2013), lot 3340, $58,750; New York Signature (Heritage, 2/2014), lot 5351, $58,750.
7. PR63 Cameo. National Numismatic Collection at the Smithsonian Institution, grade per John Dannreuther.
8. PR62 PCGS. Rich Uhrich Collection (Stack's, 2/2008), lot 2125, $60,000; Kupersmith Once in a Lifetime Collection (Bowers and Merena, 11/2010), lot 4985, $38,614.
9. PR62 NGC. Grand Central (Paramount, 11/1967), lot 796; John Jay Pittman Collection, Part II (David Akers, 5/1998), lot 1886, $33,000; Heathrow Collection (American Numismatic Rarities, 3/2006), lot 1487, $64,400; Dallas Signature (Heritage, 11/2006), lot 2145, $57,500; Long Beach Signature (Heritage, 6/2007), lot 2308, not sold (Central States Signature (Heritage, 4/2021), lot 5110, $56,400.
10. PR61 NGC. FUN Signature (Heritage, 1/2015), lot 4264, $30,550; Chinook Collection (Heritage, 4/2019), lot 3851 (as NGC PR61 1853472001), $38,400.
The existing coin in the Hansen Collection is just off of this list which is a PR58 Cert #40964096 specimen that Mr. Hansen purchased in 2021. This is the only graded proof below PR61.
As mentioned, the finest coin is the Harry W. Bass, Jr. Foundation Collection (HBCC# 4001) specimen that was recent offered by Heritage in the Harry W. Bass, Jr. Collection, Part I sale on 9/2022. D.L. Hansen was the under bidder when the coin realized $312,000 or maybe he waited for the Bender specimen.
The new Hansen coin is described in the auction as: This is clearly one of the heavily frosted and deeply mirrored representatives. Orange-gold surfaces exhibit splashes of coppery color on each side. A few wispy, superficial hairlines are minor for the assigned grade. Eye appeal remains terrific.
Provenance: Tom Bender PCGS Registry Collection; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3396, realized $108,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1854 Three Dollar Gold, PR63CAM
PCGS POP 2/3, CAC Approved
Certification #25599492, PCGS #88017
PCGS Price Guide $100,000 / Realized $108,000
Ex: Tom Bender Collection
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My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
The 2023 FUN US Coins Signature Auction – Tom Bender Three Dollar Gold Proof (2 of 7)
D.L. Hansen purchased seven Bender Three Dollar Proofs
The Hansen Collection picked up some great Three Dollar Gold Proofs in the Tom Bender Sale. The Showcase coin for the sale was the fabled only known example of 1870-S Seated Liberty Half Dime. The coin realized $3,120,000. After you get past this coin, there were ten other coins that broke the $100k barrier by realizing six figures, as follows:
1875 $3 PR65 Deep Cameo PCGS CAC Realized $456,000
1856 $3 PR65+ Deep Cameo PCGS CAC Realized $408,000
1796 10C JR-4, R.4, MS66+ PCGS CAC Realized $372,000
1870 $3 PR65 Cameo PCGS realized $216,000
1883 $3 PR67 Deep Cameo PCGS CAC realized $198,000
1859 $3 PR65 Cameo PCGS. CAC Realized $192,000
1881 $3 PR67 Cameo PCGS. CAC Realized $114,000
1854 $3 PR63 Cameo PCGS Realized $108,000
1868 $3 PR65 Deep Cameo PCGS Realized $102,000
1877 $3 PR65 Deep Cameo PCGS Realized $102,000
As you can quickly see, nine of the 10 coins were Three Dollar Gold Proof. There were 22 Three Dollar Proofs from The Bender Family Collection, Part II sale offered in the Heritage January 2023, FUN US Coins Signature Auction. The Hansen Team was successfully in bidding and purchased the first lot offered, the 1854 Three Dollar, PR63 Cameo realizing $108,000. This is the first coin required in the complete Three Dollar Gold Proof set. They did not stop there, they purchased the second Bender Three Dollar Gold lot, 1856 $3 PR65+ Deep Cameo PCGS CAC Realized $408,000. Without bring the paddle down, they purchased the third lot, 1859 $3 PR65 Cameo PCGS CAC realizing $192,000. After the third lot, the Hansen bidder must have left to get a cup of coffee, because the next coin purchase was eight lots later when the successful bid was for an 1870 $3 PR65 Cameo PCGS realizing $216,000. The Hansen team won the next lot, 1872 $3 PR64 Cameo PCGS. CAC realizing $40,800. The lot broke the six-figure sting, ending at four in row. Then five lots later, the team got back into the game by winning the 1880 $3 PR65 Deep Cameo PCGS CAC realizing $84,000. Hansen finished up the sale with winning its fifth six-figure coin, 1881 $3 PR67 Cameo PCGS. CAC realizing $114,000. There were four more coins sold, but after the 1881, Hansen was done. The purchasing was as follows:
LOT #3396 - 1854 $3 PR63 Cameo PCGS Realized $108,000 (Replace PR58)
LOT #3397 - 1856 $3 PR65+ Deep Cameo PCGS CAC Realized $408,000 (Replace PR62CAM)
LOT #3398 - 1859 $3 PR65 Cameo PCGS. CAC Realized $192,000 (New Coin)
LOT #3406 - 1870 $3 PR65 Cameo PCGS Realized $216,000 (Replace PR61CAM)
LOT #3407 - 1872 $3 PR64 Cameo PCGS. CAC. Realized $216,000 (New Coin)
LOT #3412 - 1880 $3 PR65 Deep Cameo PCGS CAC Realized $84,000 (Replace PR64)
LOT #3413 - 1881 $3 PR67 Cameo PCGS. CAC Realized $114,000 (Replace PR62)
As you as see, the Hansen Team had a seven-run inning with the Bender Sale. All seven coins are significant improvements to the core collection. If you were tallying the purchases as you read through, you would know the total spent on the seven Three Dollar Proofs was $1,162,800. As a footnote, 35% of the money spent was on one coin, 1856 $3 PR65+ Deep Cameo PCGS CAC. The sole finest 1856 was known as Tom Bender’s favorite in the collection. I will feature the coin today.
1856 Three Dollar Gold, PR65+ DCAM, Ex: Garrett / Tom Bender Collection
Single Finest Example Known
Expert David Akers comments on coin: A few proofs are known, perhaps as many as five or six. Harry Bass was the first to point out that the word DOLLARS on the reverse of the 1856 proofs is over a small DOLLARS, indicating that possibly a dateless die from 1854 was used to mint the proofs of 1856. The small letters of the original word DOLLARS are clearly visible under the large letters.
PCGS CoinFacts gives the survival estimate to be only five with two GEM PR65 or better. PCGS shows five grading events with lowest grade PR62 and PR64. There is only one CAM coin, the Fenn/Hansen PR62CAM. Lastly, there are two DCAM PCGS events, Harry Bass PR64+ DCAM and the sole finest Bender/Hansen PR65+DACAM. NGC have two grading events. The first is a PF62 and the other is a PF65CA. This would give a PCGS/NGC total event as seven which leads me to believe one of two may be duplicate.
The Heritage cataloger wrote: Offered here is the single finest 1856 three dollar proof known. It is one of an estimated six examples minted, of which five or perhaps all six survive. John Dannreuther writes in United States Proof Coins, Volume IV: Gold, Part I: "Although slightly more available than the 1855 Proof issue, the 1856 Proof is rarer than the 1854 issue." This particular representative can be traced back to the famed 19th century collector T. Harrison Garrett. This is only its first public appearance since 1990 and its fifth since 1888. The following roster is the courtesy of John Dannreuther appearing in Heritage Auctions #1356, Lot #3396.
Roster of Significant Examples Courtesy of John Dannreuther (HA #1356, Lot #3396)
1. PR65+ Deep Cameo PCGS. CAC. T. Harrison Garrett; Robert Garrett (1888); John Work Garrett (1919); Garrett Collection -- Johns Hopkins University Collection (Stack's, 3/1976), lot 394, realized $21,000; Connoisseur's Collection (Superior Galleries, 1/1989), lot 338, realized $39,600; Jascha Heifetz Collection (Superior Galleries, 10/1989), lot 4242, realized $49,500; Boys Town Sale (Superior Galleries, 5/1990), lot 5506, realized $68,750; Tom Bender PCGS Registry Collection; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3397, realized $408,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
2. PR64+ Deep Cameo. CAC. F.C.C. Boyd; World's Greatest Collection (Numismatic Gallery, 1/1946), lot 271; Abe Kosoff (8/3/1971); Harry W. Bass, Jr. Foundation Collection (HBCC #4006).
3. PR62 Cameo PCGS. CAC. Ed Trompeter Collection, Part I (Superior Galleries, 2/1992), lot 98, $14,850; ANA National Money Show Signature (Heritage, 3/2011), lot 4729, $28,750; ANA Sale (Stack's, 8/2012), lot 11671, $32,200; Fenn Family Collection, Part III / FUN Signature (Heritage, 1/2017), lot 5832, $41,152; Dell Loy Hansen Collection (Duplicate).
4. PR62 NGC. ANA Signature (Heritage, 8/2017), lot 4117.
5. Proof, Grade Unknown. Auction '81 (RARCOA, 7/1981), lot 391, $20,500; Dennis With (possibly the PR62 Cameo PCGS).
6. PR58. Adolphe Menjou Collection (Numismatic Gallery, 6/1950), lot 1374, $40; John Jay Pittman; Pittman Collection, Part II (David Akers, 5/1998), lot 1890, $16,500; MONEX (Steve Contursi and Todd Griffiths).
With this CC#1 purchase, Dell Loy Hansen has two of the top three 1856 Three Dollar Proofs according to John Dannreuther’s Roster of Significant Examples. The PR62CAM Cert #21882517 specimen was purchased in 2017 from Numismatic Financial Corporation. I cannot see the possibility of Mr. Hansen starting a second set of Three Dollar Gold Proofs, although anything is possible. I would not be surprised to see the PR62CAM offered for sale at some point.
This Bender/Hansen coin pretty much speaks for itself, but I will close by providing a commentary from the recent Heritage cataloger: Each side features profound Deep Cameo contrast between beautifully reflective fields and razor-sharp motifs blanketed in a thick layer of mint frost. Orange-gold color dominates surfaces that show a few areas of planchet roughness and a handful of natural alloy spots.
Provenance: See #1 above
1856 Three Dollar Gold, PR65+ DCAM
PCGS POP 1/0, CAC Approved
Certification #25599494, PCGS #98019
PCGS Price Guide $190,000 / Realized $408,000
Ex: Garrett / Tom Bender Collection
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Unbelievable dedication to this thread @Currin !
This should all be put into a book one day that similar to Eliasberg's "King of Coins."
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
The 2023 FUN US Coins Signature Auction – Tom Bender Three Dollar Gold Proof (3 of 7)
The year 1859 was the first for which proof gold coins were available to the general public from the Mint - Heritage Cataloger (1/2023)
The year 1859 was marked by significant political turmoil, a booming gold and silver rush, and the looming threat of the American Civil War. It was also the year abolitionist John Brown led a raid on the federal armory at Harpers Ferry, an event that would have significant implications for the future of the United States. This 1859 Proof Gold Coin set reflects an era in American history, as these rare and valuable coins are a testament to this period's historical significance and value. (GlobeNewswire, Hard Asset Management, Inc., Dec 16, 2022)
Ron Guth wrote for CoinFacts: In 1859, collectors in the general public embraced their ability to purchase coins directly from the U.S. Mint. In so doing, they hit every denomination hard, ordering a then-record number of Proof coins of all denominations...even Proof gold. If so, where are they today?
In a past Stacks Bower’s sale for an 1859 quarter eagle, the cataloger wrote: The 1859 is the first Proof Liberty quarter eagle for which the mintage was recorded by Mint personnel. It is also the highest mintage Proof quarter eagle produced up until that time (more on the relevance of this mintage figure below). Both these facts are the result of Mint Director James Ross Snowden's decision to begin marketing Proof sets to the general public on a large scale, a plan put into practice beginning in 1858 (for non-gold coins). The late 1850s saw the first major boom in coin collecting in the United States, and Snowden's efforts were undoubtedly intended to capitalize on that upswing in the hobby. In anticipation of records sales for the era, the Mint struck 80 Proofs of each of the gold denominations current in 1859, from the gold dollar through the double eagle. Such expectations proved wildly optimistic, however, and numismatic scholars agree that only a small percentage of these coins were actually distributed to contemporary collectors. The balance of the mintages was either destroyed through melting or (more likely) released into circulation.
PCGS describes the date set as: The seven piece copper and silver Proof Set for 1859 was the first widely available set, with production of most issues reaching 800, more than double the previous year. It is the last year that the Stars obverse Half Dimes and Dimes were made, and the only year of the "No Shield" Indian cent. The four gold coins this year show a mintage of 80 pieces each, but their limited availability and consequent value suggest that either only a portion were sold, or the reported figure is too high. Regardless, perhaps 8 to 12 of each are known today, with some permanently impounded in institutions. Completing this set will require both money, and patience. The Hansen Core Collection has a complete seven-piece copper and silver Proof Set. What about the gold you may ask?
The complete 1859 Proof Gold Registry Set requires six pieces (seven if you count both varieties of the 1859 Quarter Eagle Proof). Currently, the Hansen core collection has the One Dollar Gold, both Quarter Eagle varieties, and now adds the Three Dollar Gold. There are three missing pieces:
1859 Liberty Head Half Eagle Proof.
With a mintage of 80, CoinFacts estimates 8 to 10 known. Other than the Eliasberg/Trompeter specimen, the last auction appearance was March 2013 for the Morton & Eden Ltd Auction of The Royal Mint Museum. The coin was the finest PCGS certified PR65+CAM specimen (Cert # 17250129). Whereabouts unknown. The Harry Bass specimen sold in auction in November 2000. The Farouk/Norweb specimen sold October 1987. The Louis E. Eliasberg, Sr. Specimen sold October 1982. The Eliasberg specimen made its way into the Ed Trompeter Collection, and Heritage Auctions sold in August 2015. Why such few auction appearances? Maybe Ron Guth can shed some light: Approximately a dozen Proof 1859 Half Eagles are known, suggesting that the reported mintage of 80 examples is far to high (it might be appropriate for silver coins, but certainly not for the gold). Most of the known survivors are Cameo or Deep Cameo; it may be that no non-Cameos exist. Three of the known examples are locked up in institutional collections, including those of the Smithsonian, the American Numismatic Society, and the Royal Mint (London) Collection. The record price for this issue was set in 2015 with the sale of the Eliasberg-Trompeter for $164,500. PCGS records four grading events. One PR58 and three CAM specimens, including PR63CAM, and two GEMS (PR65CAM and a PR65+CAM)
1859 Liberty Head Eagle Proof.
CoinFacts estimates 6 to 9 known out of a mintage of 80. The last auction appearance was March 2013 for the Morton & Eden Ltd Auction of The Royal Mint Museum. The coin was the second finest PCGS certified PCGS PR65CAM specimen (Cert # 17250127). During or after the 2013 sale, the coin found its way into the Eagles of the Tyrant Collection. The coin described on owner’s website as: A towering gem that offers not only gem quality surfaces but also the desirable Cameo contrast! The coin holds the public auction record by realizing $257,341.81 in 2013. The Louis E. Eliasberg, Sr. Specimen sold October 1982. The PCGS Auction data provides only theses three events for the past 40 years. This results in one appearance every 13 years. With the last event 2013, we should see one in the next two to three years. David Akers wrote: Proofs are very rare but less so than preceding dates. As many as nine or ten proofs may exist including two virtually perfect specimens, previously unreported, that are in the Royal London Mint's Collection. PCGS records four grading events, one PR64 and two CAM specimens, including PR64CAM, and the Tyrant GEM PR65CAM. The finest known is the PR65DCAM. If anyone know the whereabouts for the PR65DCAM, please let know. If you want keep private, PM me.
1859 Liberty Head Double Eagle Proof.
CoinFacts estimates five known out of a mintage of 50. PCGS Auction data provides nine events in the past forty years with the last appearance was March 2013 for a NGC PR63 Cameo specimen in a Heritage Sale. The famously pedigreed, George Seavey, Parmelee, Boyd, Menjou, Wolfson specimen realized $223,250. If a specimen hit the market today, I think that record would be shattered quickly. The last PCGS specimen appeared in a Bonham's Auction in June 2014. David Akers wrote: A few proofs of this date are known, perhaps as many as seven or eight. The Royal London Mint's collection contains two 1859 proofs of each of the U.S. gold denominations from $1 to $10. It is probable that at one time the Double Eagles were also in the collection but they are not there now. In closing, 80 Proofs are believed to have been struck. If this is accurate, most were melted. Proof 1859 double eagles are extremely rare, and at least one of the examples known is impaired. Two others are impounded in museum collections. As of the end of 2020, PCGS has graded 1 in PR62 DCAM, 1 in PR62+, 1 in PR63 CAM, and 1 in PR64+DCAM for a total of 4. NGC has 2 in PR63 Cameo, and 1 in PR63 Ultra Cameo, for a total of 3. (www.DoubleEagleBook.com)
It will be interesting to watch to see if the Hansen Collection can complete the 1859 proof set in the near future. There is only one set in the PCGS Registry from the J.J. Pittman Collection. For now, let’s take a look at the new 1859 Three Dollar Gold, PR65CAM added to the collection.
1859 Three Dollar Gold, PR65CAM, Ex: Kosoff / Bass / Bender
Rare JD-2 Die Pair, Three to Five Known
Expert David Akers wrote a few decades ago: Proofs are very rare with no more than ten to twelve pieces known. One previously unaccounted for proof is in the collection of the Royal London Mint. PCGS CoinFacts gives the survival estimate to be 10 in all grades with five graded GEM PR65 or better.
The Heritage cataloger wrote: The year 1859 was the first for which proof gold coins were available to the general public from the Mint. A December 17, 1859 letter from Melter and Refiner James Curtis Booth to Mint Director James Ross Snowden explained: "There is a growing taste for collecting coins, evidenced by the demand this year for 800 sets of silver Master-Coins & 80 sets of the gold & by the demand for specimens of our past coinage whether gold, silver, or copper. The desire for collecting coins, is attended by an indirect improvement in the public taste for the Finest Arts, & by the development of veneration for the past, without being necessarily accompanied by objectionable features."
Heritage explained the differences is the varieties: The 80 three dollar gold proofs struck in 1859 were manufactured from two different sets of dies. They are distinguished by a couple of obverse die lumps, one southwest of Liberty's ear (JD-1) and one left of the L in LIBERTY (JD-2). John Dannreuther suggests that at least some of the original mintage was melted or placed into circulation, leaving 10 to 12 examples of JD-1 extant plus three to five JD-2 representatives.
Revised Roster of 1859 Proof Three Dollar Gold Pieces (2011 HA #1154, Lot #5363)
1. PR67 Cameo NGC. Recorded in the NGC Census Report. Nothing else is known.
2. PR66+ Deep Cameo PCGS. Massachusetts Historical Society Sale (Stack's, 10/1970), lot 782; Harry W. Bass, Jr.; Bass Core Collection (Heritage 5/2023)
3. PR66 Cameo NGC. Jewett Collection (S.H. Chapman, 6/1909), lot 909; John H. Clapp; Clapp Estate (1942); Louis E. Eliasberg, Sr.; Eliasberg Estate (Bowers and Ruddy, 10/1982), lot 283; Ed Trompeter Collection (Superior, 2/1992), lot 101; American Numismatic Rarities (3/2004), lot 1377; Bowers and Merena (2/2007), lot 701; "Kupersmith Once in a Lifetime Collection" (Bowers and Merena, 11/2010), lot 5003.
4. PR66 Cameo NGC. Heritage (3/2006), lot 1832, $57,500.
5. PR65 Ultra Cameo NGC. F.C.C. Boyd (World's Greatest Collection, Numismatic Gallery, 1/1946), lot 274; Memorable Collection (Numismatic Gallery, 3/1948), lot 245; Harold S. Bareford Collection (Stack's, 12/1978), lot 128; Auction '79 (Paramount, 7/1979), lot 265; Auction '81 (RARCOA, 7/1981), lot 398; A Connoisseur's Collection (Superior, 1/1989), lot 111; Goldberg Coins (5/2007), lot 1542; Goldberg Coins (2/2009), lot 1411.
6. PR65 Ultra Cameo NGC. Bowers and Merena (7/2005), lot 2532; Heritage (6/2010), lot 1598; Heritage (9/2010), lot 20543
7. PR65 Cameo PCGS. Purchased from Abe Kosoff (8/1973); Harry W. Bass, Jr.; Bass Collection, Part III (Bowers and Merena, 5/2000), lot 274, realized $29,900; Larry Jackson, Tom Bender PCGS Registry Collection; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3398, realized $192,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
8. PR65 PCGS. Wolfson Collection (Stack's, 1962), lot 283; Grant Pierce Collection (Stack's, 1965), lot 1245; Charles Jay Collection (Stack's, 10/1967), lot 277; Ullmer Collection (Stack's, 5/1974), lot 412; Buddy Ebsen Sale (Superior, 5/1987), lot 2399.
9. Choice Proof. John Zug (5/20/1949); John Jay Pittman (David Akers, 10/1997), lot 834. Offered as part of an assembled 1859 proof set in the Pittman sale.
10. PR64. Garrett Collection; Johns Hopkins University (Stack's, 3/1976), lot 397.
11. Proof. GENA Convention (Pine Tree, 9/1974), lot 1868.
12. PR62. Stack's (10/1995), lot 1521.
13. PR61 Cameo NGC. Heritage (11/2003), lot 7435, $8,625.
14. PR58. Bowers and Merena (8/2000), lot 2185.
Museum Specimens
15. PR62 Cameo. U.S. Mint; National Numismatic Collection; Smithsonian Institution.
16. Proof. Brock; J.P. Morgan; ANS.
17. Proof. Royal London Mint (per David Akers).
The new Hansen coin probably falls somewhere between CC#5 and CC#7. The coin is described in the auction as: This Gem Cameo offering last appeared at public auction as part of the Harry W. Bass, Jr. Collection, Part III, where it was described as "A lovely cameo Proof with frosted bright yellow devices surrounded by reflective gold fields." Orange and reddish-gold surfaces exhibit occasional lilac accents.
Provenance: See #7 Above
1859 Three Dollar Gold, PR65CAM
PCGS POP 2/2, CAC Approved
Certification #25599496, PCGS #88022
PCGS Price Guide $80,000 / Realized $192,000
Ex: Kosoff / Bass / Bender
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My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
The 2023 FUN US Coins Signature Auction – Tom Bender Three Dollar Gold Proof (4 of 7)
What is CAC Coin Grading?
Blanchard Gold calls CAC Coin Grading the “Ultimate Seal of Quality”. On their website, they explain their view of… What is CAC Coin Grading? They describe it as: In every field, a select few represent the very best of the best. Rare coins are no exception, and Certified Acceptance Corporation (CAC) makes it easy to spot them at a glance. You’re probably familiar with coin grading. The higher the better. One MS-64 Saint-Gaudens double eagle equals another, right? Well, not quite. Within each grade of coin, there’s actually variation. Some MS-64s are better than others. Why? Think of it like grades in school. Anything between a 93 and a 97 is an “A.” But a 97 is definitely better than a 93. And the same goes for coins. When you invest in an NGC or PCGS-graded coin, you could be getting a “93” or a “97,” and there’s a real difference between the two. Short of buying a loupe and investing years in becoming a coin grading expert, how are you supposed to tell the difference? That’s where CAC coin grading comes in. The CAC was founded in 2007 by renowned numismatist John Albanese (who himself founded NGC and PCGS). CAC coins are PCGS or NGC coins that have been evaluated against an extremely high quality criteria for a specific grade. If these coins meet CAC’s standards, which are based on the standards of today’s selective and informed buyer, they receive a green CAC sticker. And that green CAC sticker equals much higher premiums on a coin. For example, in January, one MS-61 1805 $2½ gold coin sold for $23,325. Another MS-61 1805 $2½ gold coin sold for $33,600. That’s $10,275 more for the exact same coin of the exact same grade. Imagine being the owner who sold the $33K coin. You’d be feeling pretty good about your investment right about now!
I had reported in an earlier post that in the Bender Family Collection, Part II sale, the offering were 22 Three Dollar Proof Gold lots. Unbelievable, all 22 were CAC Approved. I believe giving credit when credit is due. It seems this insane high percentage of CAC Three Dollars Proofs should be credited to Laura Sperber serving as agent for this collection. She was an early and continued to be a very strong supporter of the CAC concept for valuing coins to buy and even for future sale values. Go back and review the 1/12/2023 post for a more discussion of Ms. Sperber involvement. At first glance, I thought Mr. Hansen and team were targeting CAC coins, but after a more detail review, that was not the case. All the Bender coins were CAC approved.
The seven coins that Mr. Hansen purchased came with PCGS Price Guide Value $700,000. The seven CAC Approved lots realized $1,162,800. The lots realized 166% of the price guide. How much of that premium is associated with the CAC sticker? I doubt all 66% of the premium is correct, but I do think you have to contribute some of the results to being CAC.
We are about halfway through the Bender Three Dollar Proof updates. What we have seen so far has been amazing. This coin that we see today have a PCGS Price Guide value of $65,000. The coin realized an insane amount of $216,000. Ms. Sperber would call this “Moon Money”.
1870 Three Dollar Gold, PR65CAM, Ex: Miller / Bender
Registry-Grade Specimen, Only 35 Examples Struck
Expert David Akers commented: This is another date of which deceptive first strikes exist that can be difficult to distinguish from proofs that have handling marks or light rubbing. However, on the business strikes that I have seen, the small leaf to the left of the date appears as just a tiny detached wisp, whereas on the proofs, the leaf is full. The difference in this leaf is pronounced enough that one can usually distinguish business strikes from proofs even from relatively poor quality photos. Also, the date on proofs is lower in the field than it is on the business strikes, the seven being just barely above the right ribbon of the bow.
PCGS CoinFacts gives the survival estimate to be 25 in all grades with five coins grading GEM PR65 or better. PCGS shows nine grading events with one PR62, three PR64 and one GEM PR65. Specimens with the Cameo designation, PCGS have graded two which are a PR61CAM and the Bender/Hansen PR65 CAM. Lastly, PCGS have two grading events for the Deep Cameo. They are a PR64DCAM and PR65DCAM. The PR65DCAM from the Harry Bass Foundation Collection is the sole finest at both services. The coin will be offered in Heritage’s May 2023 CSNS US Coins Signature Auction.
The Heritage cataloger wrote in the Bender listing: The Philadelphia Mint struck a small production of 35 proof three dollar gold pieces for collectors in 1870, to accompany a meager mintage of 3,500 business-strike examples. The proofs were delivered in two batches: the first, of 25 coins, was delivered on February 3, with the second delivery, of 10 pieces, taking place on June 1. The circulation strikes were all delivered on January 18. A single die pair was used to produce all the proofs. The proof dies are so similar to the business-strike dies that many numismatists have said they were the same, but John Dannreuther used overlays to demonstrate that they are different. The easiest way to distinguish between the formats is to compare the single leaf on the reverse, near the 1 in the date. On the proofs, the leaf is fully attached to the wreath, while it is attenuated and detached on the business strikes. The obverse proof die was used to strike at least some of the proofs every year from 1869 through 1873. This was the only use of the proof reverse die. John Dannreuther estimates no more than 12-14 proofs are extant today.
The strike and appearance of the new Hansen coin is described as: Two die states are known for the proofs, possibly corresponding to the different striking periods. The second die state has diminished detail in the upper wreath, especially on the right side. This coin is from the first die state, with sharply detailed design elements throughout. The richly frosted devices contrast boldly with the deeply mirrored fields and the well-preserved orange-gold surfaces are free of mentionable distractions. Overall eye appeal is terrific. PCGS lists a single coin in PR65 Deep Cameo, the only example that could be considered finer than this piece at either of the leading grading services (11/22). The high quality within the grade is confirmed by CAC. From Tom Bender's #1 All-Time and #1 Current PCGS Registry Sets in the Three Dollar Gold Basic Set, Proof (1854-1889) category. This coin is pictured on PCGS CoinFacts and is the plate coin for John Dannreuther's United States Proof Coins, Volume IV: Gold.
The Hansen Team decided to pay up for Bender coin rather than waiting for the finer PR65DCAM Bass specimen that will appear in an auction later this year. The finest graded coin is not always the best choice. This is a great coin and appear to be a great fit in the set that Mr. Hansen is assembling. There are a few more coins to see in the upcoming days.
Provenance: Henry Miller Collection; FUN Signature (Heritage, 1/2011 as NGC PR65+ Cameo), lot 5067, realized $216,000; Tom Bender PCGS Registry Collection; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3406, realized $216,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1870 Three Dollar Gold, PR65CAM
PCGS POP 1/1, CAC Approved
Certification #25599460, PCGS #88033
PCGS Price Guide $65,000 / Realized $216,000
Ex: Miller / Bender
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My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
The 2023 FUN US Coins Signature Auction – Tom Bender Three Dollar Gold Proof (5 of 7)
Harry Bass vs. Tom Bender Three Dollar Proof Gold
Today posting is intending to be a fun little exercise. Before anyone get bent out of shape, this is only for fun. If you a player in buying the coins from these two sales, don’t let this feature influence you. Please. There are not many times in my lifetime have I seen two world class collections of the same coins as the Harry Bass and Tom Bender Three Dollar Proof Gold sets to be offered in the same period of time. This presents an amazing opportunity. As for the sales, the Tom Bender sale of the Three Dollar Proof Gold is down to the last auction. The offering from both collections were 73 amazing gold proofs. All the coins were either Cameo or Deep Cameo. More than half were Deep Cameo. The 73 coins are not half sold yet. The Bender Auctions have sold 21 of 37 coins in the collection. The remaining 16 will be offered in a Heritage Auction next week (Feb 2023). In the first two Bass Auctions, the sale of Three Gold Proofs have been light. In Part I and II, there have been only nine of the 36 coins offered. In Bass Part III (May 2023), there will be 15 coins offered and in Bass Part IV (Aug 2023), there will be 12 coins offered.
Heritage Auctions describe the Bender set of 37 out of 39 coins as: the finest complete certified $3 Gold Proof set ever assembled. The 36-piece basic set is complete. According to Laura Sperber, who encouraged Bender to begin the collection in 2005 and helped him obtain most of the coins, "this is the first $3 Proof Gold set certified by PCGS in 25 years of operation. Even compared to famous early collections, this set still ranks as the finest." Mr. Bender's collection contains some of the legendary rarities in Proof gold coinage, such as the 1854, 1855, 1856, 1873 Open 3, 1875 and 1876 issues. He counts his 1856 $3 gold PR65+DC, the finest graded, as his favorite. "The Proof $3 gold is an undervalued series," he says. "This is due in part to the extreme rarity of the coins. For example, many of the dates only have populations of nine or 10. The 1855 and 1856 only have mintages of five each." When the set was elected in the PCGS Hall of Fame in 2011, it was described as: Another new set, taking away both a Gold Star award as well as a Hall of Fame win in its first year! And no wonder…. With a Set Rating of 66.27 and a completion rate of 100%, it’s a mind boggling assemblage of some of the rarest U.S. coins. Containing pieces from such collections as Bass, Garrett, and Trompeter and with no fewer than fifteen absolute finest knowns (pop 1, none higher) this set leaves even the most experienced numismatists speechless. In 2011, Tom added an 1855-S to his Major Variety Set, and so that set is included as a HOFer. Well done Tom! The collection is missing the 1865 “Restrike” and “1873” Closed 3 specimens.
There is much more to the Harry Bass Foundation Collection of Gold than the 36 pieces of Three Proof Gold. His Three-dollar collection had proofs examples for the Philadelphia issues and high-end business strikes for branch mint. The Harry W. Bass, Jr. Foundation website described the collection as: The Only Complete $3 Gold Collection. Harry Bass acquired at least one example of each date and mint of $3 gold coin from 1854-1889, and for some, duplicates illustrating different finishes or varieties. The Core Collection consists of a complete run of proof coins from the first year of issue (1854) to the last (1889), plus circulation strikes of the branch mint issues. This accomplishment is only feasible with the inclusion of the unique 1870-S $3 gold coin, which Harry Bass acquired at the historic Eliasberg Sale in 1982. Today this set stands as the ultimate in existence anywhere. Out of the 39 coins required for a complete PCGS Registry set, the Bass Collection is missing the unique 1855-S Branch Mint Proof, the 1865 due to only having a restrike when both is required, and maybe surprising as well as disappointment, his 1872 Proof was determined to be a MS prooflike. The discussion today, is how the two proof sets compare.
I created a table comparing the two collections side by side. These are my six key take-aways:
Bender Strengths
Base Set Completion (36 coins) – Bender 100% Completed, Bass 97.2%, missing the 1872 Proof
Major Varieties Completion (39 Coins) - Bender 94.9% Completed, Bass 92.3%
CAC Approved for Grade – Bender 100%, Bass 55.5%
Bass Strengths
GPA – Bass 65.39 grade, Bender 65.07 grade
Grade Min/Max – Bass 63.5 to 67.5, Bender 63 to 67
DCAM Designation – Bass 72.2%, Bender 51.3%
I think we would be splitting hair if we try to determine which Three Dollar Proof collection is the best or greatest. The purpose of the exercise was to study and learn. There was a couple surprises from what I discovered. First, I did not expect the Bender set to be 100% CAC. Secondly, the MSPL coin in the Bass set was a shocker. In Heritage’s September 2022 of Historic Harry W. Bass Jr. Core Collection Part I, the cataloger wrote: In United States Proof Coins, Volume IV: Gold, John Dannreuther adds: "The Harry Bass Core Collection has a very deceptive example that has been called a Proof by nearly every numismatist that has examined it. Mr. Bass included it in his complete Proof set and considered it a Proof. However, the author recently realized it was not a Proof, as it has the die pair used for the circulation strikes. It is just as deceptive as an 1870 circulation strike that was called a Proof by several grading services, until the author proved that two different dated dies were used for the two formats." Bass purchased this coin privately from Abe Kosoff in July 1973. Finally, I guess it should not have been a surprised that 72.2% of the Bass set was DCAM Designation.
Up to this point, Dell Loy Hansen has purchased seven of the Bender coins and three from the Bass sales, totaling ten coins. In a 39-piece set, he has improved 25.6% from these two collections. After the next three sales, we will watch to see what number of purchases that he lands on. Just ten more coins will get the Hansen set over the 50% threshold of Bass/Bender specimens. Another interesting point to watch for… can he obtain any of the six key strengths that I have identified. I think the completion of 36-piece basic set may be a given.
1872 Three Dollar Gold, PR64CAM, Ex: Tom Bender
Seldom Seen Finer, CAC Endorsed
D.L. Hansen purchased the Bender 1872 Three Dollar Gold which is definitely not a deceptive example of a mint state prooflike specimen. Expert David Akers wrote about this coin: Only 30 proofs were minted and they are just as rare as the small mintage would indicate. In our 238 catalogue auction survey, 26 proofs of this date were offered. It is my opinion, however, that many of those offered were not really proofs at all but rather were first strike uncs, which can be very deceptive. As is always the case, however, different dies were used for the proofs than were used for the business strikes, and on the 1872, the position of the date is markedly different on proofs than it is on business strikes. Business strikes have the date higher in the field, almost centered between the word DOLLARS and the bow on the wreath. On the other hand, the date on the proofs is lower in the field and also a bit more to the right. The difference in the date location is pronounced enough that one can usually tell if a particular coin offered at auction is a proof or an unc merely by carefully examing the photograph in the catalogue.
PCGS CoinFacts gives the survival estimate to be 22 in all grades with five coins grading GEM PR65 or better. PCGS shows 18 grading events with six specimens having the Cameo designation. PCGS have graded four which are a PR64CAM with includes the Bender/Hansen CAC specimen. The other two is a PR64+CAM and the sole finest PCGS PR65CAM.
The Heritage cataloger added some additional information: The familiar obverse die from 1869 was used until 1873 and makes its penultimate appearance on the 1872 proof three-dollar gold. Reportedly, only 30 proofs were struck. During the years 1866 to 1876, additional proofs may have been struck for some or all of those three-dollar issues, although in small quantities. The small mintage of 1872 circulation strikes may have encouraged additional proofs to be struck, as there would have been collector demand.
In the Heritage listing, the coin was described as: This is a near-Gem, richly contrasted proof with watery, jet-black fields well-frosted devices. Vibrant orange-gold color complements the Choice surfaces. While multiple obverse die uses diminishes isolated high-point detail, the strike is deep and sharp overall. A few wispy hairlines are seen with a loupe, yet the 1872 proofs are seldom seen any finer. PCGS reports a single 64+ and one finer cameo proof.
Prior to the Bender sale, the 1872 three dollar was a missing coin the D.L. Hansen Proof Collection. Being the Bass Sale did not produce an 1872 Proof specimen, this coin was a great opportunity that realized a surprising low result of only $40,800 which is below the PCGS Coin Value Guide of $47,500. Of late, I have not seen many opportunities to obtain a gold CAC coin 20% below PCGS value. This was a much-needed pickup at any price.
Provenance: Tom Bender PCGS Registry Collection; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3407, realized $40,800; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1872 Three Dollar Gold, PR64CAM
PCGS POP 4/3, CAC Approved
Certification #25599504, PCGS #88035
PCGS Price Guide $47,500 / Realized $40,800`
Ex: Tom Bender
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
The 2023 FUN US Coins Signature Auction – Tom Bender Three Dollar Gold Proof (6 of 7)
PCGS TOP POP Proof 67… Are they rare?
The number is 20. Since the first PCGS coin was certified over 35 years ago, there have been 20 grading events that have produce PR67 Three Dollar Gold Proofs. During this time, PCGS POP reports a total of 1202 Three Dollars Proofs certified. Certainly, this number have duplicates and resubmissions. If we estimate 10% is duplicates, then there is an estimation of 1080 certified coins. This would indicate to us that less than 2% of the Three Dollar Gold Proof population are PR67 specimens.
In looking at what dates they can be found, 18 of the 20 coins are dates that range from 1881 to 1887. Until the very recent Harry Bass grading event, all the certified three-dollar PR67 proofs were in a narrow date range 1881 to 1887. The Bass grading produced two super civil war era coins, the 1862 PR67+DCAM and the 1863 PR67+DCAM CAC. The 1863 is the sole finest PCGS certified DCAM/CAC specimen known. Also, there were two additional Bass coins with one grading PR67DCAM and the last PR67CAM. The Bass grading event increase the population of PR67 Three Dollar Gold Proofs from 16 to 20. This is a detail breakdown of the PCGS PR67 Three Dollar Gold Proofs.
PR67+Deep Cameo (Two Grading Events)
Only the two recently Harry Bass graded 1862 and 1863 coins are in this top rung category. The 1862 is described in an upcoming listing as “The Single Finest Proof Extant”. In a detail description: A 19th century proof gold coin in Superb Gem condition with Plus and Deep Cameo designation suggests a remarkable degree of technical quality and eye appeal. The Bass 1862 three dollar lives up to the billing. It is, for all intents and purposes, a flawless specimen with gorgeous yellow and orange-gold surfaces, spectacular field-device contrast, and a impressive lack of contact. A perfect combination of absolute and conditional rarity. Interesting, the coin did not receive the CAC sticker, but the 1863 did. The 1863 is the second PR67+Deep Cameo and has the CAC sticker. These two civil coins have created a league of their own.
PR67+ Cameo (Two Grading Events)
There are two PR67+ Cameo specimens in the PCGS POP report. The first is an 1884 PR67+ Cameo and the second is dated 1885. The 1884 is the third PR67+ from the Bass Collection. We will learn more on the Bass coins when they are offered by Heritage Auctions later 2023. There is not much information on the 1885 PR67+ Cameo. This is an interesting coin and had a lot to lose in the Bass grading event. Without the Bass event, the coin was the sole finest PR67+. Now, it is just one of four with two better as Deep Cameo specimens. The 1885 has not appeared in auction.
PR67 Deep Cameo (Six Grading Events)
Prior three recent PR67+ grading events, any PR67DCAM could be said to be the second finest PCGS certified. They have dropped to the bottom of top five. There are six coins that have received the PR67DCAM grade. The first PR67 Deep Cameo that shows up in the POP report is the 1883 PR67 Deep Cameo, CAC specimen from the Tom Bender Collection. This coin sold earlier this month (Jan 2023) realizing $198,000. The coin was purchased by the owner of the Duke Collection and currently being used in his amazing U.S. Proof Type Set Collection. Next, there are two 1884 PR67 Deep Cameo specimens. Only one have shown up in auction. A CAC certified specimen was offered by Heritage Auctions in 1/2012. The coin realized $115,000. If the second coin exists, there is no recorded info. The next coin is the single 1886 PR67 Deep Cameo specimen. According to info that I can find, the only appearance of this coin was in a 6/2014 Heritage Auction where it did not sale. The final two coins in this group is a pair of 1887 PR67 Deep Cameo specimens. The Simpson specimen appeared in a 4/2021 Heritage Auction realizing $63,092.40. The coin is currently in the Contursi Family Collection. The second 1887 PR67 Deep Cameo specimen is in the High Desert Collection. Its last appearance was 1/2012 Heritage Auction realizing $115,000. In the ten years since the sale of this coin, the top condition census coins have seen a drastic change in the POP report.
PR67 Cameo (Nine Grading Events)
With nine grading events, this is where almost 50% of the PR67 coins can be found. The grading everts are distributed in five dates: 1881, 1882, 1884, 1885, and 1887. Two dates have multiple grading events with 1884 having two and 1885 the most common with four. Starting with 1881, the D.L. Hansen Collection obtained the sole finest 1881 specimen earlier this month in the Tom Bender sale. I will feature this coin today. The sole finest 1882 specimen is currently being offered by Rare Coin Wholesalers on their website with ask price of $154,000. The 1884 indicates two PR67 Cameo specimens. The D.L. Hansen Collection has one of the two that was acquired in the 2018 timeframe via David Lawrence Rare coins. There was no information of the second piece. As for 1885, PCGS has graded four specimens. The D.L. Hansen Collection has one of the four that was acquired in the 2016 timeframe via Barry Stuppler. As for the other three, the only known information is that one of them sold in a Stacks Bower Winter 2022 Auction. The coin realized $96,000. The fifth and last PR67 Cameo is dated 1887. The 1887 specimen is a sole PCGS PR67CAM specimen, but some of the sting is deadened by the two DCAM specimens. The D.L. Hansen Collection has sole PR67CAM that was also acquired in the 2016 timeframe via Barry Stuppler. As a final note, the Hansen Collection has four of the five PR67CAM dates, excluding the 1882 which is currently being offered by Rare Coin Wholesalers.
PR67 with No Designation (One Grading Event)
As a final conclusion, eight of the 20 PR67 Three Dollar Gold Proof has the designation of Deep Cameo. The number of Cameo is eleven. That leaves one without designation. There is not much known pertaining to this coin.
As you followed though this posting, you saw that the Bender Collection had only two PR67 coins. They were the 1881 Cameo and 1882 Deep Cameo specimens. The Bass Collection had four as result of the recent grading event. They were the two amazing 1862 and 1863 civil war PR67+DCAM specimens. These to coin was followed by a third 1884 PR67+CAM. Completing the Bass PR67 specimens is the 1885 PR67CAM. Finally, the Hansen Collection also have four PR67CAM specimens, but they are not the in the same stratosphere as the Bass Big Four. Let’s take a look at the fourth and newest Hansen PR67CAM specimen.
1881 Three Dollar Gold, PR67CAM, Ex: Tom Bender
Finest-Certified Example at PCGS, CAC-Approved Quality
Expert David Akers comments: A number of deceptive first strike uncs exist that are virtually indistinguishable from actual proofs. Close inspection reveals the differences, however. On the business strikes, the date is level and the numerals are directly between the corresponding letters of the word DOLLARS. On the proofs, however, the date slants slightly up to the right, making the numerals appear more nearly below the corresponding letters. Also, on the proofs, the outside row of dots of the tassel at the right side of the wreath above the 3 appear detached from the rest, whereas on the business strikes they are clearly connected. Although with most dates the tendency is to mistake first strike uncirculated pieces for proofs, I can say that in the case of the 1881, I have seen several proofs called first strike uncs! Actually choice uncs and proofs of this date are about equal in rarity and bring approximately the same price when offered at auction.
PCGS CoinFacts gives the survival estimate to be 50 in all grades with 20 coins grading GEM PR65 or better. PCGS shows 42 grading events with eight specimens having the Cameo designation and seven Deep Cameo. PCGS have graded one coin at PR67. The Bender/Hansen PR67CAM, CAC specimen is the sole finest.
The Heritage cataloger wrote: The Philadelphia Mint struck 54 proofs three dollar gold pieces in 1881, with the coins delivered in three different batches. The first group of 40 pieces, was delivered with the sets on February 9, and another delivery of 10 coins took place on March 26. Then there was a long gap in production, until a final batch of four proofs was delivered in the fourth quarter of the year. One obverse and two reverse dies were used to strike the proofs. This coin was struck from the JD-1 dies, with a centered date on the reverse. John Dannreuther estimates no more than 22-26 examples of JD-1 are extant today in all grades. A minuscule mintage of 500 business-strike coins for commerce were struck on June 4 and many of them show sharp strikes and prooflike surfaces. Many deceptive business strikes have been cataloged as proofs over the years. Fortunately, the reverse of the business-strike die shows the date positioned further to the right than on either of the proof dies, making it possible to distinguish between the formats.
The new Hansen coin is described in the auction as: This magnificent Superb Gem exhibits sharply detailed design elements throughout. The vivid yellow-gold surfaces are impeccably preserved and the deeply mirrored fields contrast boldly with the frosty devices, enhancing the terrific eye appeal. This coin is the single-finest certified example at PCGS, making it a Registry Set essential. The high quality within the grade is confirmed by CAC. From Tom Bender's #1 All-Time and #1 Current PCGS Registry Sets in the Three Dollar Gold Basic Set, Proof (1854-1889) category. This coin is pictured on PCGS CoinFacts and is the plate coin in John Dannreuther's United States Proof Coins, Volume IV: Gold.
The Tom Bender Family Part II sale offered two PR67 Three Dollar Gold Proof specimens. The Hansen team was able to get this 1881 PR67CAM at a reasonably good price. This POP 1/0 specimen replaces an inferior PR62 CAC obtained in 2019 from Douglas Winter. The Bender coin looks good in the Hansen set. In the next post, we will take a detail look at the D.L. Hansen Three Dollar Gold Basic Set, Proof (1854-1889) set.
Provenance: Tom Bender PCGS Registry Collection; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3413, realized $114,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1881 Three Dollar Gold, PR67CAM
PCGS POP 1/0, CAC Approved
Certification #25599476, PCGS #88045
PCGS Price Guide $130,000 / Realized $114,000
Ex: Tom Bender
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My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
I keep squinting looking for the S
Beautiful looking coin!
The 2023 FUN US Coins Signature Auction – Tom Bender Three Dollar Gold Proof (7 of 7)
Three Dollar Gold Basic Set, Proof (1854-1889)
In this final posting, this will be a good time to recap the Bender sale and the current status of the Hansen 36-piece Three Dollar Gold Basic Set. In the past series of posts you have watched the showcasing of the Three Dollar Gold coins that D.L. Hansen purchased from The Bender Family Collection, Part II sale offered in the Heritage January 2023, FUN US Coins Signature Auction. There were 22 Three Dollar Proofs offered in the sale and the Hansen team successfully purchased the first lot offered, the 1854 Three Dollar, PR63 Cameo. This is the first coin required in the complete Three Dollar Gold Proof set. As a recap, the Hansen Team was successful in purchasing a total of seven coins from the Bender Sale:
LOT #3396 - 1854 $3 PR63 Cameo PCGS Realized $108,000 (Replace PR58)
LOT #3397 - 1856 $3 PR65+ Deep Cameo PCGS CAC Realized $408,000 (Replace PR62CAM)
LOT #3398 - 1859 $3 PR65 Cameo PCGS. CAC Realized $192,000 (New Coin)
LOT #3406 - 1870 $3 PR65 Cameo PCGS Realized $216,000 (Replace PR61CAM)
LOT #3407 - 1872 $3 PR64 Cameo PCGS. CAC. Realized $216,000 (New Coin)
LOT #3412 - 1880 $3 PR65 Deep Cameo PCGS CAC Realized $84,000 (Replace PR64)
LOT #3413 - 1881 $3 PR67 Cameo PCGS. CAC Realized $114,000 (Replace PR62)
In the 36-piece set, these seven upgrades represented improving 19.4% of the coins in the basic set. The upgrades did not move the needle on the ranking because the leader board sets are 100% complete. The two new coins moves the completion of the Hansen set to 86.11%. The set currently have 31 of the 36 required coins. Also, the upgrade GPA results were positive. GPA with Bonuses moved from 64.69 to 65.78. There was more than a one point improvement in GPA with just seven coins. Lastly, the % DCAM improved from 40.00% to 45.16%. More importantly, there is a key attribute that is not measure. The upgrades replaced three non-CAM/DCAM specimens. Both the Bender and Bass sets were 100% CAM/DCAM. The Bender Part II sale was very impactful in a positive way.
The coin that is being featured today is one that I would consider as a workhorse. The 1880 Three Dollar Gold, PR65DCAM is a solid PCGS POP 3/2, CAC approved specimen.
1880 Three Dollar Gold, PR65DCAM, Ex: Tom Bender
Only 36 Proofs Struck, 18 to 22 Survivors
Expert David Akers describes the 1880 Proof as: The proofs that I have seen all show the same rust spot on the curl of hair below Liberty's ear that is present on the proofs of 1877, 1878, and 1879. I do not know if the rust spot is present on all known proofs, but I can say it has been present on the ones that I have seen. In addition to the rust spot in the hair, there is also one tiny rust spot in the neck, as well as the vein on the nose and the teardrop by the eye. Also, the position of the date is different. On the business strikes, the date is level, whereas on the proofs, the date slants slightly up to the right. The inside left part of the right bow is also completely missing on the proofs, the result of a lapped die; it is present on the uncs. Furthermore, the wreath ends at the top of the reverse are distinctly separated on the proofs, whereas on the business strikes there is a "ghosting" that makes them appear connected.
PCGS CoinFacts gives the survival estimate to be 28 in all grades with 10 coins grading GEM PR65 or better. PCGS shows 27 grading events with five specimens having the Cameo designation and six Deep Cameo. As of today, PCGS have not graded an 1880 Three Dollar Gold Proof at the PR67 level. The finest graded by PCGS is a sole PR66DCAM. Both the Bass and Bender specimens were graded PR65DCAM. The Bender specimen is CAC approved and the Bass is not. Their Hansen team popped of the Bender PR65DCAM CAC.
The Heritage cataloger wrote on the coin mintage: The 1880 was the final year before proof mintages began to increase -- one might say significantly -- with the highpoint in 1888 with 291 proofs struck. John Dannreuther likens this increased mintage to the increase in proof production in the 1880s for gold dollars, but we do not see the increase similarly, especially on a percentage basis. Proof gold dollar production peaked in 1889 with a staggering 1,779 pieces, undoubtedly many of which were used for jewelry purposes. Three dollar proofs were not similarly used in jewelry. Congress abolished both denominations in 1890.
The Heritage cataloger wrote about the concerns with the PR and PL specimens: The 1880 three dollar is an issue that has bewildered the best-intentioned catalogers in the past. The difference in date positions is minute at best. The main identifiers for proofs is a large die lump on the curl, and a meandering die line on the nose (as seen on the present specimen). It may be going out on a limb, but JD goes there anyway in his proof gold reference, to state it is possible that the five proofs struck in the third quarter of 1880 were actually Deep Mirror Prooflikes struck from circulation-strike dies. At least one such coin has been discovered, designated as a proof but struck from business strike dies. In any case, that is not a concern with the present coin.
The new Hansen coin is described in the Heritage sale as: The surfaces exhibit deeply mirrored fields with varying degrees of mint frost over the devices. Since the obverse had been used since 1877 the amount of frost on the devices wanes with successive strikes. This indicates that this piece was struck early in 1880 as there is considerable frost over the devices on each side. The surfaces show even, lightly tinged reddish-gold color. There are no obvious or mentionable contact marks on either side that would serve as useful pedigree identifiers. Exceptional quality overall.
This update completes the posting on the Bender Three Dollar Proofs from the 2023 FUN US Coins Signature Auction. The Bender Family Collection, Part II sale was a great way to start the year. January was a big month for Bender coins. There is potential that February could be a continuation. In the second month of the year, the Hansen Team could pick up some additional great coins. The Long Beach Expo Auction will showcase The Bender Family Collection, Part III, which I believe to be the grand finale. I have identified twelve coins that could improve D.L. Hansen Three Dollar Gold Proof Collection. By time you read this post, the sale will be less than 48 hours from hammer down. I wish I could watch, but sometimes duty calls elsewhere. Maybe, this is not the last post that we will see on the Tom Bender Three Dollar Gold Proofs.
Provenance: The RLS Collection / Chicago ANA, (Stacks Bowers 8/2013), lot 4467, realized $51,112.50; The Bender Family Collection, Part II / FUN US Coins Signature Auction, (Heritage 1/2023), lot 3412, realized $84,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1880 Three Dollar Gold, PR65DCAM
PCGS POP 3/2, CAC Approved
Certification #14303162, PCGS #98044
PCGS Price Guide $87,500 / Realized $84,000
Ex: Tom Bender
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
"In the 36-piece set, these seven upgrades represented improving 19.4% of the coins in the basic set. The upgrades did not move the needle on the ranking because the leader board sets are 100% complete. The two new coins moves the completion of the Hansen set to 86.11%. The set currently have 31 of the 36 required coins."
Looked at the set and the 5 missing appear to be in the HA auction of Bender Part III ending this week (Feb 9). So might be some more updates on this shortly.
https://youtube.com/watch?v=_KWVk0XeB9o - Ruby Starr (from 'Go Jim Dandy') Piece Of My Heart
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https://youtube.com/watch?v=D0FPxuQv2ns - Ruby Starr (from 'Go Jim Dandy') Maybe I'm Amazed
RLJ 1958 - 2023
The 2023 FUN US Coins Signature Auction – The Final Post
First 2023 Update for the D.L. Hansen Proofs (1859-1915)
I saved a really nice purchase from the 2023 FUN Auction for the last post. It does not get much better than an Indian Head Eagle Proof. All the coins purchased in the FUN sale was from the Tom Bender Collection except for two. This Eagle Proof and a Morgan Mint State DMPL Silver Dollar. The coin was missing from the Hansen Morgan DMPL Silver Dollar set. This set many be worthy of additional focus at some point in the future, Today, we will discuss the Proof Eagle and I will show the two purchases.
This Proof Eagle is a coin of great significance to the D.L. Hansen Collection. It is the last coin that was needed to complete another set. That set was The Indian Head $10 Gold Basic Set, Proof (1908-1915) set and described as: Only eight coins comprise the $10 Indian set in proof, but they’re eight coins filled with challenge and rarity. From the lowest mintage coin (71 for 1913) to the highest mintage coin (204 for 1910) the facts remain the same: these coins are RARE. The $10 Indians proofs are matte or Roman finish, depending on the date, as is true of the other gold coins of this era. Even the most “common” date (the 1908) has seen less than 20 pieces certified in Proof 65 or better. The mintage figures for the 1910 have been brought into question, as its relatively high mintage of 204 isn’t indicative of its rarity. PCGS has graded only 20 pieces in nearly 15 years! It is interesting the last coin the Hansen Team acquired for this set is the 1910. The current PCGS POP report has increase the grading events to 23 which is up from 20 when the PCGS description was wrote. Before we discuss the details of the 1910 Proof Eagle, let’s talk about the significance to the overall proof collection.
The 1910 Proof Eagle is a latest addition to the Double Eagle Proof Set. This new coin advances the D.L. Hansen Collection of Collectable Gold Proofs one step closer to completion, so let’s recap the progress the Mr. Hansen has achieved in the first month of January 2023. I have detailed the eleven sets that comprise the complete collection for proof gold from 1859 to 1915 (all collectable). The set consists of 294 coins. As I have stated several times before, PCGS does not have a set that represents these sets, so this chart provides a fairly accurate representation.
Since start of the New Year, the collection has advanced slightly in number, but significantly in additions. The collection requires 294 coins with only 57 remaining. Last year, I determined that Mr. Hansen was on a pace of about 15 new additions per year. He reduced by four in January by adding the Proof Eagle, one Three Dollar Gold Proof from the Harry Bass sale, and two more from the Bender sale. With three more Bass/Bender sales coming, in fact one took place last night, there is an opportunity for the Hansen Collection to add the three missing Three Dollar Gold Proofs that I show in the abbreviated set. After these last three, I would expect things to slow back down for the remainder of 2023. At the pace of 15 per year, the collection is about four years away from completion. Let’s watch and see what happens after a fast start in 2023.
1910 Indian Head Eagle, PR67
Beautiful Top-Grade Example, Rarely Seen in Any Condition
Former PCGS Founder David Hall once commented: The mintage for this issue is listed as 204, but like the mintage figures for all 1910 gold issues, this figure is suspect. Based on graded populations and auction appearances, the 1910 is certainly rarer than the 1908, and seems to be rarer than several other issues with much lower mintages. Either half of the mintage was melted at the Mint or the reported figure was simply incorrect. Somewhere between 50 and 75 examples are known today and the original number released by the Mint was probably half the 204 reported figure.
PCGS CoinFacts gives the survival estimate to be 75 in all grades with 20 coins grading GEM PR65 or better. PCGS Population report shows 23 grading events with 10 graded PR65 or better. There are three specimens graded PR67 with the sole finest a PR67+ from the Gerald R. Forsythe Collection. One of the PR67 is the new Hansen coin and the second is unknown.
The Heritage cataloger describe the coin as: The 1910 proof Indian eagle is a major rarity in all grades. The Guide Book mintage of 204 pieces likely includes coins melted as unsold at the end of the year. John Dannreuther, in United States Proof Coins, Volume IV: Gold, states a mintage of 167 coins. Out of these, just 50 to 60 pieces are believed extant, and the rate of auction appearances for the issue suggests that even this estimate is optimistic. Since out Auction Archives began in 1993, we have handled a 1910 proof ten on only 18 prior occasions. PCGS and NGC combined report 50 grading events, but this figure likely includes some duplication. The Superb Gem grade level is occupied by 13 coins, according to population charts, mostly in PR67, but over the course of nearly three decades we have only seen such a coin on two prior occasions, both appearances being more than a decade ago. Dannreuther's census of significant examples lists only five pieces in this top grade.
As for the Hansen specimen, the cataloger added: The present coin is without doubt among the finest known. Needle-sharp motifs complement the smooth, satiny surfaces, bathed in rich lemon-orange color. No contact marks or hairlines are seen. It has been suggested that the satiny sheen of the 1910 proof eagles was produced by sandblasting the dies instead of the coins. Although research continues into the die manufacturing process for proof gold of this era, that hypothesis would explain the gradually changing appearance of the surfaces on proofs of this finish. Early strikes from the proof dies are slightly more granular than later strikes, although comparison of individual coins is often required to see the differences. The present coin is finely textured, suggesting an early die state, which is fitting for one of the finest examples known.
It is sad in a way that we are wrapping up the 2023 FUN US Coins Signature Auction. It will be forever remembered for the sale of the three unique coins: Bass 1870-S Three Dollar Gold, Bender 1870-S Half Dime, and the Prestwick 1873-CC No Arrows Seated Dime. This was not all, there were other million dollars coins like the trio from Jim O'Neal Collection of U.S. Early Half Dollars. How can you forget the possibly unique 1907 Arabic Numerals Double Eagle from the Bob Simpson that realized $1,680,000. The Bass Sale was a coin showcase. Beside the 1870-S $3, there were three other Harry Bass coins that realized more than one million dollars, including the elusive 7x6 Stars, 1798/7 Eagle that D.L. Hansen purchased for $1,110,000.
This update on FUN sale wraps up just in time for the 2023 Long Beach Expo Auction. By time you have read this post, the sale will be in at least the second day. Will Hansen have any success in this sale? It hard to say. I don’t think he will set out completely. What I mean by this is seating out the live bidding, but just placing Max Bids. Everyone that have done this know, you could come up empty handed. Although, Hansen quest is still a very fun collection to watch. Just in the first month and half of 2023, I have posted coins realizing more than $4,000,000 and I don’t think it’s over.
Provenance: Tom Bender PCGS Registry Collection; FUN US Coins Signature Auction, (Heritage 1/2023), lot 3889, realized $288,000; Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1910 Indian Head Eagle, PR67
PCGS POP 2/1
Certification #25377068, PCGS #8892
PCGS Value Guide: $290,000 / Realized $288,000
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
That 1910 proof $10. Wow!
My YouTube Channel
New Capped Bust Dime Addition
Capped Bust Dimes, Proof (1820-1837)
In early 2020, we saw a new addition to this set, the finest 1821 Dime Proof, a PCGS PR66 specimen. At the time I wrote: This new Capped Bust Dime is a PCGS confirmed and certified proof that is added to Capped Bust Dimes, Proof (1820-1837) set. The set includes an 1821, 1827, 1831, and 1835 specimen (25% Complete). Although, this set requires only 16 coins, and Mr. Hansen understands the set may never be completed, but “it’s still fun to add a piece when you can”. How difficult is this set? PCGS describes as: What is the largest mintage of any coin in this set? Believe it or not, it's 20 coins! Some of the dates have never been certified by PCGS in any grade (such as 1820 and 1836) and every date is (obviously!) a great rarity in the Proof format. A few spectacular examples survive, though, such as the 1834 in PR67 from the King of Siam set and a few others. Since the writing of this PCGS introduction to the set, a specimen for the 1820 has been certified by PCSG in a crossover from NGC. Presently, the coin is in the #1 registry Capped Bust Collection.
Since this update in 2020, the 1829 specimen was added bring the count to five. The coin was acquired in a private transaction with David Lawrence Rare Coins in early 2022. The coin last appeared in auction was Stacks Bowers March 2021 Rarities sale. The coin realized $18,000. Prior appearance was from a Bowers and Merena's Rarities Sale of August 2001, lot 101. The PCGS POP 1/2 coin certification #42140672 and was not previously featured in Hansen watch.
Has this 16-piece set ever been completed? Doubtful. In the PCGS registry, there are only three active collectors: Dr. Link, Coinbert, and Mr. Hansen. Naturally, Dr. Link has the most advance Capped Bust set. In addition, he is the most advance collector in the Capped Bust series. His collection has amazing specimens representing both finishes.
I know there are some really good reference books on early proof coinage. For me, I learn better by doing rather than reading about something. It is also more fun. With that in mind, I attempted the see if the 16 coins are really collectible. I think they most are except for the 1837 Capped Bust. I question that coin will ever appear in a PCGS holder. Also, I want to get a feel for how good is the six Hansen coins when you think of PCGS condition census. The six coins has a collective PCGS POP of 10/8 (avg 1.6/1.3). That not really bad. I create table to show some of my findings.
Today, I will feature the latest addition, the 1830 Capped Bust Dime, PR64+ specimen. As the Dell Loy Hansen Set continues to grow and expand, it going to be fun to watch as see how many more early proof dimes can be added. I will close by sharing a brief comment that I wrote about three years ago: Just to give you a taste for the difficulty of the series. A Capped Bust expert shared this information on the pre and post dates for this series. The large size dimes are tough. The Greensboro 1820 NGC PR66 Cam (now PCGS PR66+ CAC) is likely unique. There may be two 1822 proof dimes, the Quint 1822 PR66+ CAM CAC and a PR63. This indicates to me that only one or two (maybe three) collectors can be serious about this series in the same time period. As for the 1821 proof dime, there may be four known specimens, with one locked in a vault at the Smithsonian. This is a very rare set with three accomplished collector’s competing. This could be a fun set to watch for years to come.
1830 Capped Bust Dime, PR64+
In The D. Brent Pogue Collection, Part III sale, the Heritage cataloger stated the 1830 Earle/Eliasberg/Pogue Gem Proof Proof-65 Cameo Dime is the finest of Three Certified by PCGS. Probably the only part of the statement that can disputed is that since 2016 three more specimens have been certified by PCGS bring the POP to six. Including in this total is PR63 and PR64+ non-GEM specimens. The other four are GEM PR65 specimens including two that have cameo designations. This is where the PCGS Population report loses some believability in a small factor for me. As latest as August 2021 Stacks Bowers sale the cataloger states: Exceedingly Rare Proof 1830 Capped Bust Dime with Only Three to Five Known. Later in the same listing, the experts at PCGS CoinFacts suggest that only three to five Proof 1830 dimes are known. The four PCGS GEMs in the populations, I think would be one too many. It is more believable that all four grading events is the same three coins, which is the Earle/Eliasberg/Pogue, the Stacks/Benson, the Pittman/Coinbert Gem Specimens. I think Dr. Charles Link may owned one of these coins but cannot confirm. With him having 8 out of the 16 coins, the 1830 could be one of his missing coins or it is possible he has the Stacks / Benson PR65 Specimen.
With a report mintage of five, PCGS CoinFacts gives the survival estimate to be four in all grades with two coins grading GEM PR65 or better. I believe this estimation is a little low. I have identified five distant coins with pedigrees. As discussed earlier, there are current six PCGS grading events for this coin and NGC has four coins graded 1830 proofs with one each, PR63, PR64, PR65, PR66. This results in ten total grading events. This seems to be high. I believe this to be a pretty good roster of the top five known specimens.
My Roster of Significant 1830 Capped Bust Proof Dimes by Currin
1. Earle/Eliasberg/Pogue Specimen, PR65CAM PCGS Cert #31914913. - George H. Earle, Jr. Collection, (Henry Chapman 6/1912), lot 3186; Louis E. Eliasberg, Sr. Collection (Bowers & Merena 5/1996 as Raw Proof-66), lot 1089, realized $26,400; Benson Collection, Part III / Benson /Robert Blaugrund Sale, (Goldberg Auctioneers 2/2003), lot 3240, realized $27,888; The Orlando Sale, (Stack’s 1/2009), lot 243, realized $80,500; Larry Hanks; The D. Brent Pogue Collection, Part III, (Stack's Bowers 2/2016 as MS65 Cameo PCGS), lot 3037, realized $88,125.
2. Stacks / Benson Specimen, PR65 PCGS Cert #43205260. - James A. Stack, Sr. Collection (Stack's, 1/1990), lot 40; Benson II (Ira & Larry Goldberg, 2/2002), lot 478, realized $24,278; US Coins Signature Auction (Heritage, 1/2021 as PR66 NGC), lot 4007, realized $50,400; Currently in a user's private Set Registry Inventory. (Note: This coin could be in the Link Collection, but I have not been able to confirm.)
3. Pittman/Coinbert Specimen, PR65 PCGS Cert #32736410, - Dr. Christian A. Allenburger Collection, (B. Max Mehl 3/1948), lot 867, realized $8.65; John Jay Pittman Collection; John Jay Pittman I, (David Akers 10/22/1997 as Raw Proof-63), lot 564, realized $18,700; Currently in a Coinbert PCGS Registry Collection
4. Hansen Specimen, PR64+ PCGS Cert #46137763, - Purchased in Private Transaction from David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
5. Wright Family Specimen, PR63 NGC Cert #608612-006 - Charles G. Wright Family Collection, (Heritage 4/2014), lot 4102, realized $18,800; Central States US Coins Signature Auction, (Heritage, 4/2020), lot 3688.realized $18,000; Rarities Night / ANA Auction, (Stacks Bowers, 8/2021), lot 4054, realized $19,200.
The providence is unknown for the Hansen coin. Where does it belong in history? Does it even have a history? More research is needed. I do know, there are a few others that have sold in past auctions that I have not been able to identify or connect to the Hansen coin. The most significant is a PR65 NGC that appeared in a 1996 RARCOA Auction. This coin is a possibility. An unidentified PCGS is PR63 that sold in a 2000 Bowers & Merena Auctions. There is a trio of other third-party certified specimens that have appeared, including a PR63 ICG, PR62 SEGS, and PR60 ANACS. I doubt one of these would be the Hansen coin, and very possible they are prooflike specimens. Of the five other appearances, if the Hansen coin is one of these, I think the most likely possibility would be the RARCOA or the B&M. Or could it be a coin that has never appeared in auction? That is possible too.
Provenance: Unknown; Purchased in Private Transaction by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection
1830 Capped Bust Dime, PR64+
PCGS POP 1/4
Certification #46137763, PCGS #4549
PCGS Value Guide: $55,000 / Cost Unknown
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Bottom of the Barrel Upgrade
U.S. Coins Complete Basic Set, Circulation Strikes (1792-1964)
This update rekindles some fond memories. In the early days of the Hansen Collection and Hansen watch, there was a lot of focused placed on the U.S. Coins Complete Basic Set, Circulation Strikes (1792-1964). This was the core set of the core collection. The 2821-piece set is complete except for two coins. There has been a realization of late, that this set may never be 100%. The two missing coins are a pair of half eagles. The 1822 dated half eagle is required for this registry set. The only 1822 Half Eagle available to collectors is from the D. Brent Pogue Collection. The coin sold in a Stacks Bowers March 2021 Auction realizing $8,400,000. Dell Loy Hansen was one of the under bidders. This coin will be remembered as the first big missed for the Dell Loy Hansen. Some people do not agree, but I believed that it forever changed the course of this collection.
The other missing coin is the 1798 “Small Eagle” half eagle. The coin is called one of the famed rarities of the series, but it is obtainable with patience. The Harry Bass specimen will appear in auction in a few months. Is this a coin that the Hansen Team will try to acquire? I think so, but over the past few years, I believe the Hansen philosophy has matured. In today’s term, I don’t think he sees any coin as must have. This really makes opportunities and auctions unpredictable. What he is working on, is to make his coins the finest possible. Let’s see how the score card looks for the 2821-piece set.
374 Coins (13.3%) - PCGS POP 1/0, Sole Finest, highlighting the amazing 1854-S $5, PCGS AU58+.
856 Coins (30.3%) - PCGS Tied for Finest Certified, highlighting 1795 $1 Draped Bust, MS66, POP 3/0.
464 Coins (16.4%) - PCGS Certified One Finer, highlighting the1873-CC 25C No Arrows, POP 1/1.
604 Coins (21.4%) - PCGS CC Top Five, highlighting the remarkable 1798/7 $10, 62, POP 3/4
519 Coins (18.4%) – Non PCGS Top Five. Highlighting two coins valued more than one million dollars:
.... 1927-D $20, MS63, PCGS POP 1/9, PCGS Value $1,850,000
.... 1794 $1, AU58+ PCGS POP 1/6, PCGS Value $1,100,000
This is an impressive set to be as large in size and scale as it is. I would value the 2821 piece set somewhere between $125M and $150M. The average coin is a modest $44K to $53K. Keep in my, this is only 2821 coins from a collection that John Brush indicated the size to be 12,000 PCGS pieces. But there more to this collection than price, there is also quality. Let’s take a quality look.
Top Graded Coins
.#1 - 1939-D 10C , MS69FB, PCGS POP 25/0
.#2 - 1849 “Open Wreath” G$1, MS69, PCGS POP 1/0
.#3 - 1858 G$1, MS69, PCGS POP 1/0
.#4 - 1892-S $1, MS68, PCGS POP 1/0
.#5 - 1901-S 25C, MS68+, PCGS POP 1/0
In this 1964 and before set, the finest graded coins in the collection are three MS69. Two are One Dollar Gold pieces and the third is a MS69FB dime. I have listed as #4 and #5 a couple of my favorite MS68 specimens. One that I did not place on the list was the 1938-S MS68+FB Dime that is PCGS valued at $375,000. There are 242 MS68 coins in this set which could be on this top five list. There are some that are graded MS68+, some with FB, with RD, and FS. The set is not top heavy as some large collections are. There are more than 2800 coins between these five top coins and the five below. There is no doubt that there are great coins from top to bottom. Let’s take a look at the bottom five.
Bottom Graded Coins
.#2817 - 1853-O “No Arrows” 50C, VF35, PCGS POP 1/0, (Finest Kown)
.#2818 - 1847-O $5, VF25 CAC, PCGS POP 4/41
.#2819 - 1802/0 1/2C, VF20BN CAC, PCGS POP 9/22
.#2820 - 1823/2 25C, G4, PCGS POP 3/16 , Replaced w/ AU55 PCGS POP 1/2
.#2821 - 1933 $10, N1 (No Grade)
The coin I place at the bottom is a beautiful 1933 eagle. The problem with coin is the lady’s cheek looks too good. Hansen purchased this coin in a 2019 auction at a cost of about $300,000. The 1853-0 is at the bottom of the set, but the VF35 is the finest known specimen. As the set improves, this coin could end up being the lowest graded coin. The 1847-O half eagle and 1802/0 half cent are prime candidates for the next round of upgrades. For now, replacing the 1823/2 25C, G4, was a great accomplishment. Let’s take a look at the coin.
1823/2 Capped Bust Quarter, AU55, Ex: Benson / Elwood
“If a collector were asked to name the four rarest American silver coins, he would, I am sure, naming them in the order of their denominations, say: the 1804 dollar, 1823 quarter, 1827 quarter, and 1802 half dime.” — Harold P. Newlin, 1883
Lots of things have changed in the past 140 years. These four coins are still considered rare today, but a true discussion would have to add the ultra-rare 1870-S half dime and the 1873-CC No Arrows Dime. Denis Loring CoinFacts comments: According to Steve Tompkins' recent reference, 31 examples of this famous rarity are known. I'd guess there are a few low-grade ones yet to be discovered. The finest seen is a gem Proof with a pedigree tracing all the way back to Levick. Two Mint States are next, followed by two AU's (one from Norweb) and four XF's, including Eliasberg. More than half of the known specimen's grade VG or lower. Steve Tompkins specially refers to the Norweb specimen as an AU. The Dr. Charles Link specimen was once MS61 NGC when sold in the Eugene H. Gardner sale. In Dr. Link’s comment on his coin he states: Finest Known and only uncirculated circulation strike of the 31 known specimens.. PCGS has graded the coin AU58+ which cannot get any closer to a mint state. I believe Dr. Link, and I would agree that his borderline MS is the finest mint state and nearest coin that we will find to uncirculated circulation strike.
PCGS CoinFacts gives the survival estimate to be 33 in all grades with two coins grading mint state MS60 or better. There are no present-day mint state certified specimens. PCGS has certified 19 specimens with three graded AU, one AU55, one AU58 and finest known AU58+. NGC total population is only six. Of the six, three are AU certified, two AU50 and one graded AU58. I am able to identify five of the six but was not able to identify the AU58 NGC. Either it is completely off the grid, or it is a duplicate. I created a roster of what I have found to be the top five about uncirculated examples of the 1823/2 Capped Bust Quarters.
My Roster of Significant 1823/2 Capped Bust Quarters (Mint State) by Currin
1. Bland / Gardner / Link Specimen, AU58+, PCGS Cert #25207750. - Harlan Page Smith (S.H. and H. Chapman, 6/1906), lot 775, Realized $360; S.H. & H. Chapman sold privately; Virgil Brand Collection (Journal # 33225); Hollinbeck-Kagin (11/1973), lot 1140; Summit Rare Coins sold privately; Chris Napolitano, sold privately in 7/2005; Eugene H. Gardner Collection, Part II / US Coins Signature Auction, (Heritage 10/2014 as MS61 NGC, CAC), lot 98346, realized $188,000; Dr. Charles Link PCGS Registry Collection
2. Norweb-Pogue Specimen, AU58 PCGS Cert #12136338. - An unknown Massachusetts collection; Charles J. Dupont and Charles Anderson of Worcester, Massachusetts; Anderson-Dupont Collection, (Stacks 11/1954), lot 1798; Mrs. Emery May Norweb Collection; Norweb Collection, Part II, (Bowers & Merena 3/1988 as Raw AU50), lot 1538, realized $28,600; Fred Matthews Collection; The Chris Schenkel Collection, Bowers and Merena, 11/1990), lot 1432; Unknown intermediaries; Charlton “Swampy” Meyers Collection, via Sheridan Downey; D. Brent Pogue Collection, Part I, (Stack’s/Bowers & Sotheby’s 5/2015) lot 1072, realized $246,750.
3. Benson / Elwood / Hansen Specimen, AU55 PCGS Cert #04664906, - Probably B.G. Johnson and Virgil Brand; C. David Pierce Collection / 1947 ANA Convention Auction (Numismatic Galleries, 8/1947), lot 914; Edgar Levy Collection; Edgar Levy Collection, (Abe Kossoff, 5/1955), lot 16; Benson Collection; Benson Collection, Part II, (Ira & Larry Goldberg, 2/2002), lot 694, realized $56,350; ANA auction, (Superior Galleries, 8/2002), lot 860, realized $46,000; Steve Elwood; Jim McGuigan, sold at the 2003 FUN show; Regency Auction 54, (Legend Auctions, 9/2022), lot 93, realized $146,875; Eye Appealing Coins; Eye Appealing Coins; Purchased in Private Transaction by David Lawrence Rare Coins (12/2022) for The D.L. Hansen Collection.
4. Boyd / Eliasberg Specimen, AU50 NGC Cert # 3031943-002. - F.C.C. Boyd; "World's Greatest Collection" (Boyd), (Numismatic Gallery, 3/1945), lot 82; Louis E. Eliasberg, Sr.; The Louis E. Eliasberg, Sr. Collection, Part II, (Bowers and Merena 4/1997 as Raw AU50), lot 1386, realized $27,500; unknown; Denis Loring, August 2007; Rarities Night / ANA Auction, (Heritage , 8/2021), lot 4062, realized $96,000.
5. Allison Park Specimen, AU50 NGC Cert #Unknown - The Allison Park Collection, (American Numismatic, 8/2004), lot 341, realized $69,000.
The Hansen AU55 specimen is squarely in the middle of the condition census top five. The coin can be traced back to the early years in the B.G. Johnson and Virgil Brand Collections. In 2002, Ira & Larry Goldberg Coins & Collectible handled the coin in the sale of the Benson Collection. In Sale 13, Lot 694, the coin was graded PCGS AU-55 and cataloged as: This is certainly one of the very finest known of this supremely rare date, high in the Condition Census of the top six specimens all behind the single Proof example known. The strike is extremely sharp, and this is an early die state before the crack appears right of the date up to the center dot on Liberty, as seen on a few lower grade examples, which no doubt account for the rarity of this date. Perhaps 20 are known in all grades. Breen, in his Encyclopedia, individually lists 13 examples, with just 3 that can be called EF or better. Reviewing the PCGS and NGC Population reports seems to indicate that several are known, PCGS notes 2 in AU-55, and one in AU-58, none in Mint State above while NGC shows 1 as AU-55, 1 as AU-58 and 1 as MS-61, and the sole Proof as PF-64. With the cluster of high grade specimens reported, we suspect that there may be some duplication in the two reports, and a days study with a good coin auction library would certainly nail down the number of high grade examples known once some plate matching is done from prior auction sales. Toned a deep blue gray color, with moderate handling marks on both sides from very brief circulation. Identifiable by a small cluster of microscopic scrapes below Liberty's ear, and a few ticks between stars nine and ten, and some faint parallel scrapes above the Y of LIBERTY in the folds of the cap. On the reverse, we note some tiny marks below the wings of the eagle near the juncture with his body. Currently in PCGS holder #4664906. An extreme rarity in any grade, and especially this nice. Better than the recent sale of the Eliasberg example, this coin should have a higher technical grade, with less wear on the high points. A foremost opportunity for the Bust quarter specialist, and a date which has been offered a couple of times in the past six years.
More than 20 years later, the coin appeared in Legend’s Regency Auction 54 sale. The Legend cataloger called the coin a rarity and explained why: Legend Rare Coin Auctions is honored to offer one of the greatest rarities of the Capped Bust quarter series, the 1823/2 quarter. Depending on which census you consult, this coin is either the 3rd or 4th finest known from an entire known population of 30 or 31 examples. Mint records from the year show 1,800 delivered on February 3, 1823 and an additional 16,000 were delivered on December 31. Scholars in the series believe that the actual mintage of 1823 quarters were those delivered in February, and since no records show a mintage of quarters in 1824, it is thought the 1824 examples were minted late in 1823, and none were struck in 1824. Since the quarter denomination had been sporadically produced, and in smaller numbers than the half dollars, the 1,800 mintage of 1823 quarters went into circulation and remained there for ages. The entire 1823 mintage was produced from a single pair of dies, the obverse left over from 1822 and a 3 was punched over the final 2. The Browning-1 die marriage, with 30-31 known in all, this is an extremely RARE and important Rarity-6+ die marriage, missing from most collections of early quarters. The average survivor is apt to be heavily worn and/or damaged in some way. Coins graded VF or XF are eagerly sought by serious collectors of means, and precious few survive in high grade. Behind the Proof 64, an AU58+, and an AU58, comes the presently offered PCGS AU55, and housed in the same old green tag holder it was in when it made its first modern auction appearance as part of the Benson Collection in February 2002. It has been in the same collection since January 2003, and thus is totally fresh to the numismatic market!
The Legend cataloger continued by describing the appearance of the coin as: The surfaces are distinctly Prooflike, as to be expected of a die pair that was also used to strike a Proof example. Being high grade, the minimal amount of circulation failed to take off that delicate finish from the fields. Both sides are deeply and attractively toned in a deep blue-gray patina with iridescent olive, rose, russet, and dark golden-brown accents that come out when rotated in a light. The details show full and crisp definition, with barely any perceptible wear of any kind. In comparing the photos of the AU58 and AU58+, the reverse definition on this AU55 is fuller and shows more complete detail on the eagle's wing feathers. (Indeed, the cataloger of the 2002 Superior ANA Auction specifically noted that this coin was "finer than the R. Henry Norweb specimen" which ended up in the D. Brent Pogue Collection as PCGS AU58). When you look closely at the surfaces of both sides, you will see some minor traces of contact, which are noted for accuracy and will serve as pedigree markers on this very CHOICE AU example. The eye appeal is incredible for the date, which often times does not "come nice."
As Legend’s described, this is a very nice choice AU example. Replacing the existing PCGS G4 specimen was certainly a nice improvement in the core collection. If Mr. Hansen decides to keep, the G4 will make a nice addition to his #2 Set.
Provenance: See #3 Above
1823/2 Capped Bust Quarter, AU55
PCGS POP 1/2
Certification #4664906, PCGS #5334
PCGS Value Guide: $175,000 / Cost Unknown
Ex: Benson / Elwood
Image appreciative of Legend Auctions - Regency 54, Lot 93 (9/8/2022)
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
Barber Quarter Dollar Upgrade
Barber Quarters Basic Set, Circulation Strikes (1892-1916)
This set is described by PCGS as: The Barber quarter series contains a plethora of rarities, as 28 different dates have a population of ten or less in MS65 or better condition! The set also contains the lowest mintage regular issue silver coin of the 20th century, the 1913-S. The challenge of this series is legendary, but many collectors have chosen to tackle it over the years, with rewarding results. There are no major varieties for this set.
The basic set required 74 coins. The D. L. Hansen Collection started this set on 6/8/2017 with 72 coins originally. The original ranking was #6 all-time with a GPA w/ bonus of 65.262. On 6/23/2017, a coin was added to bring the set up to 98.65% completed and GPA w/ bonuses of 65.278. Less than two months later, on 8/10/2017, the final coin needed was added and four others were upgraded. The first GPA w/ bonus for a complete set was 65.346. Presently, more than five years after completion, the set has gone through countless upgrades and 128 revisions. In late February 2018, there were 28 upgrades. This was closely after the retirement and sale of the Perfection quarters. They were not sold to D.L. Hansen. The current GPA w/ bonus has improved to 67.20.
As reported on Hansen watch in 2018, Mr. Perfection stated: Someone else has the MS quarters. This person had all the top examples CAC that I did not. So he made one set that will never be equaled. It was sad to see them go after so many years. It was very difficult to improve both sets using All CAC coins so I decided to move on. I am still buying gem coins. We now know, the coins were sold to a client of Laura Sperber, Legend Rare Coins. The set is named RSD. In a May 2022 Legend Market Report, Laura provided a very nice tribute to this collector by publishing:
A HEART FELT CONGRATS TO OUR CUSTOMER RSD
Legend Numismatics is proud to announce the creation of the RSD Collection of MS Barber Quarters. This is not just any set-it is by far the FINEST that can EVER be built! The set is now posted on the PCGS Registry (#1 all time of course-a full 1.21 ahead of the #2 set) and it has a 68.30 rating. Of the 74 coins in the set a whopping 58 pieces are the finest graded or are tied for finest graded. Legend lives to build sets like this. We expect this set to be eventually be designated HOF. Our long time friend and customer RSD started collecting coins in earnest when he was in his 20’s and started working his way up the ladder in his families company. In his early 30’s he was able to really dive into coins. He is a very quick study and realized 100% PCGS CAC are the ONLY coins he should buy. Sadly, this was inspired by his late grandfather who also loved coins, but had been ripped of by a few dealers and auction houses back in the 70’s+80’s. RSD fully understands the game and what it takes to create a real #1 set. We’re grateful RSD still had the passion. Everyone asks will there be new blood in coins? RSD defines the new younger breed of super collectors. We worked as a team to build the Quarter set.
Collectors like him allow us to build our numismatic fantasies too. It started slow with the purchase of the Eliasberg 25C 1893O PCGS MS67+ GOLD CAC as a type coin and then when he realized it was a set he wanted to do-he never looked back. If the finest coins were for sale and we liked them our orders were simple-buy them. We proudly bough the 1898O PCGS MS68+ and the 25C 1904O PCGS MS67+ early on. Then he stepped up and bought this favorite coin, the James Stack/Gardner 25C 1901S PCGS MS67+CAC. We got to point where we had stalled out. Luckily Legend had been speaking to Perfection (who is one of the great collectors of today with all his #1 PCGS CAC Sets) and he knew he could not take his MS Barber Quarters any further. Within days, we negotiated the purchase of his set. Adding the remarkable coins RSD had, created what is now by far the BEST EVER MS Barber Quarter set. Congratulations to our good friend RSD! RSD is far from done, he will always be in the hunt to upgrade with PCGS CAC coins. Other sets he has-wild Morgan toners, and he has a complete toned Morgan CC set in MS64+ and better (yes, his 93CC is MS65 and is toned). Time will tell what his next big project will be. Until then, he loves to bring the coins to us, lay them all out on our conference room table and just shake his head and say I can’t believe we did this! That is refreshing to us.
This is a nice testimony to where the coin collection community is today. The #2 All-Time set is the retired Mr. Perfection set. As Laura stated, and I agree, there is no chance on the D.L. Hansen Collection catching the RSD set unless it comes to market. With Laura describing him as a “new younger breed of super collector”, it is doubtful that will be anytime soon. Although, it appears Mr. Hansen may have a shot at tracking down the #2 retired set of Mr. Perfection.
1892-O Barber Quarters, MS67, Ex: Duckor / Pogue
Ron Guth describes this coin as: The 1892-O Barber Quarter Dollar is in the middle of the pack in terms of mintage and overall rarity, and is in the lower half in terms of rarity in Mint State. This means that collectors should be able to obtain a high-grade example of this date with relative ease. Most Mint State 1892-O Barber Quarters cluster around the MS-62 to MS-64 grades, with MS-63 being the most common by a slight edge. MS-65 examples are scarce, but available. MS-66 and better examples are very rare, dropping to a mere three examples graded by PCGS in MS-67. The overall strike is good for a New Orleans Mint product, but still short of the well-made Philadelphia Mint issues. Some collectors pay attention to the placement of the mintmark on the back of Barber Quarters, partly out of interest, and partly as an aid in authentication. In 1892, mint engravers placed the mintmark over the R of QUARTER, unlike the placement on all subsequent years, when the mintmark appears over either the D of DOLLAR or between the R and D (the same is true for the 1892-S Quarter). Why the change was made is unclear, as the placement on the 1892-O and 1892-S Quarters centers the mintmark perfectly beneath the eagle's tail. Since Ron wrote this description, PCGS now show five MS67 in the population report and one MS67+. I cannot verify, but I would assume this sole finest is in the RSD set.
This new Hansen MS67 coin was attributed in The D. Brent Pogue Collection Part VII sale as Type I Reverse. Repunched Mintmark. In a detail Stacks Bowers description, the cataloger wrote: The first New Orleans Mint issue in the Barber quarter series, the 1892-O was saved in significant numbers at the time of delivery and has long been popular for mintmarked type purposes. On the other hand, survivors are far scarcer than those of the 1892, and in the finest Mint State grades the 1892-O is a formidable condition rarity. The Pogue specimen of the Type I Reverse hub is an example of an unlisted RPM variety, the O mintmark lightly repunched along its right side. Close inspection of the obverse reveals a curious peanut-shaped die chip at the lower corner of the neck, as well as an elongated die chip at the top edge of the cap, just below the letter G in GOD. Interestingly, we are aware of several other high grade 1892-O quarters struck from these dies that have been certified by PCGS, including a MS-67+, a second MS-67, and MS-65+. It appears that a mini-hoard from these dies existed at one time, the coins handled with the utmost care by their previous owners.
The coin was described in the Pogue sale: Here is a richly original, extremely appealing 1892-O quarter, displaying warm blend of reddish-russet, antique copper, silver-olive and golden-gray patina on both sides. The luster is full and frosty, and the strike is razor sharp from the rims to the centers. Expertly preserved and bordering on pristine, it is little wonder that this coin ranks among the finest examples of the issue known to PCGS.
More recently, the coin was offered in Legend’s Regency 48 Auction in October 2021. The Legend cataloger described as: One of the greatest 1892-O Barber quarters that survives, with one of the greatest pedigrees of all time, Duckor-Pogue! That this SUPERB GEM graced both those world class cabinets tells you all you need to know about the quality and eye appeal of this beautiful GEM. This coin features the Type 1 Reverse with the repunched mintmark, unlisted in the literature. Both sides are richly toned, exceptionally well preserved, essentially pristine and totally original. A lovely blend of earthy-autumnal hues of olive, russet, orange, gold, and antique silver-gray adorn obverse and reverse, deeper at the rims and lighter in the centers. Sharply struck devices stand out against the satiny brilliant fields. The eye appeal is excellent in every way.
In January 2023, the coin was offered on eBay by JG Numismatics with ask price of $16,500. “This listing was ended by the seller because the item is no longer available”, per eBay information. It was purchased through David Lawrence Rare Coins. The coin replaces 1892-O MS66 Cert #34533562 with PCGS POP 17/13. Therefor, it replaces one of Hansen’s Non-Condition Census specimens in his core collection.
Provenance: The Steven Duckor Collection of Barber Quarters / CA Signature Auction (Heritage 8/2009), lot 1089, realized $12,650; The D. Brent Pogue Collection Part VII, (Stacks Bowers, 3/2020), lot 7068, realized $10,800; The Regency Auction 48, (Legend Auctions 10/2021), lot 365, realized $14,687.50; Purchased in Private Transaction by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1892-O Barber Quarters, MS67
PCGS POP 5/1, CAC Approved
Certification #44147146, PCGS #5602
PCGS Value Guide: $17,500 / Ask $16,500
Ex: Duckor / Pogue
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
The #3 specimen of the 1823/2 quarter I believe came from Eye Appealing Coins, who purchased it in the previously mentioned Legend sale.
An authorized PCGS dealer, and a contributor to the Red Book.
Liberty Head Quarter Eagle Proof Upgrade
Liberty Head $2-1/2 Gold, Proof (1859-1907)
This 49-piece set is described by PCGS as: The mintage figures for the $2½ Liberty Proofs jumped dramatically in 1859, with 80 pieces struck (if the Mint records are correct). That doesn’t mean that this date (and many others as well) is lacking in rarity, as just a few examples are known of some of the coins. Key issues include the Proof-only 1863, the classic 1875 and many other dates. Some of the issues come with magnificent cameo contrast and a few have been preserved in superb condition. The D.L. Hansen set has both the key issues listed here. The Proof-only 1863 is the finest PCGS certified PR66+ DCAM. The provenance of the coin is unknown. It appear to me the coin was purchased by Dell Loy Hansen about 4-5 years ago in a private transaction. The only hint that I have was from @earlyAurum (June 21, 2018): I think he also has a $2.5 1863 in PR66+ CAC which is unbelievably gorgeous. It was for sale on DLRC a few months back. The coin has a PCGS value of $350,000.
The second key coin mentioned in the PCGS description is the classic 1875. The Hansen specimen is a PR65+ DCAM PCGS POP 2/2, which is a solid top five in the condition census report. I featured this coin in 2019 and wrote: The coin certainly fulfills its billing of being spectacular. In Heritage 2019 Long Beach Expo Signature Auction, the coin’s header description read: 1875 Liberty Quarter Eagle, PR65+ Deep Cameo Example - Classic Gold Rarity, 20 Examples Struck. The coin last appeared in the Heritage 2011 FUN Signature Auction. The coin was 1875 Quarter Eagle, PR64 Cameo with a CAC sticker that sold for $47,293. The description from last week's auction: The 1875 quarter eagle is a legendary rarity in the 19th century U.S. gold series. Collectors interested in the Coronet series are well aware of this date's rarity, whether as a circulation strike or a proof. Only 400 business strikes were produced plus another 20 proofs. The coin has a PCGS value of $200,000.
These two key date coins are the most valuable pair in the set, although there are four or five other $100K+ coins including the amazing 1901 PR69DCAM, Cert #81345410. The coins was described in a Legend Regency Auction XVIII as: No question this magnificent piece was sent from numismatic heaven to this auction! LRCA is proud to have been consigned one of the greatest Proof $2.5 that exists! Sensational mirrors explode from all over. They possess intense clarity, cleanliness, and have a full booming reflection; we cannot imagine deeper mirrors! Both sides are untoned and have a killer deep cameo look. Miss Liberty and the details are thickly frosted and have full, razor sharp strikes. The eye appeal is mind boggling! It is also mind boggling that a coin struck in soft gold with such a delicate finish can survive 105 years in such an AMAZING state of preservation. In the entire Liberty Head Quarter Eagle proof series, only three coins have been PCGS certified PR69DCAM. There is one 1899 and two 1901. The coin has a PCGS value of $150,000.
These three coins represents the top three in the Hansen 49-piece set. If and when Mr. Hansen completes this set, he will have the all-time PCGS registry set. His current 46 core coins are 67.06 GPA with 71.74% DAM. The set is missing three coins: 1861, 1862 and 1874. The lowest graded coin the Hansen set is the 1867 PR58 which is a prime candidate for an upgrade. This will be a fun set to watch in 2023 to see if the Hansen Team can find the coins to complete the set.
The National Numismatic Collection in the Smithsonian current has the #1 PCGS all-time registry set for Liberty Head $2-1/2 Gold, Proofs. Two other great completed sets were assembled by Harry Bass and Ed Trompeter. According to the set registry, Louis Eliasberg was missing the 1886 proof in his set. The Eliasberg 1886 was a prooflike specimen that was sold by Bowers & Ruddy Oct '82 price realized $1,760. Lot #235.
1893 Liberty Head Quarter Eagle Proof, PR67DCAM, CAC
Among the TOP survivors of the issue, and everything about this impressive SUPERB GEM captivates the viewer, making it near impossible to put down! Legend Rare Coin Auctions (1/25/2018)
In a 2022 Hertiage Central States US Coins Auction, the cataloger described the rarity as: The 1893 quarter eagle proof mintage was 106 pieces, and slightly more than half of the proofs survive today. However, only one Deep Cameo Superb Gem coin exceeds this glittering, deeply contrasted example at PCGS. The present CAC-endorsed example displays essentially flawless orange-gold surfaces, with glittering jet-black fields that backdrop smooth, frost-gold devices for spectacular contrast. In John Dannreuther's United States Proof Coins reference, this coin is ranked third in the list of significant examples (behind the Bob R. Simpson coin and a single PR68 Deep Cameo PCGS example). Only the most subtle differences exist among those top three proofs.
The D.L. Hansen CAC specimen is one of three or four finest certified quarter eagle proofs for the 1893 date. The coin realized $40,800 in a May 2022 Hertiage Auction. The coin is down from the auction record set in a 2018 Legend Rare Coin Auction when the coin realized $47,000. The coin was advertised as: Only a single PCGS PR68 DCAM is finer, and it has NEVER been sold in auction, making this the FINEST 1893 proof quarter eagle available today! If you are building a Proof Gold type set and are looking for a SUPERB GEM Liberty quarter eagle with mind boggling eye appeal, do not overlook the presently offered jewel!
The Legend cataloger described the appearance of the coin as: To start, the fields are very deeply mirrored and the reflection off the gorgeous orange peal surfaces do beam from all over. Rich unmolested orange-gold color is the epitome of originality. Ms. Liberty and the eagle are both fully frosted, and boast full, crisply struck devices that provide awesome contrast against the deeper mirrored fields. Under a strong glass we note ZERO post mintage defects, only a single mint made lint mark on the reverse.
The coin was purchase recently from Rare Coin Wholesalers. By an online search, the coin was offered as “JUST A SINGLE PR68DCAM GRADED HIGHER AT PCGS. CAC” with ask of $56,000. PCGS Price Guide currently values it at $51,000. This coin made for a nice upgrade to the Hansen Core Collection replacing a PR65DCAM Specimen.
Provenance: The Regency Auction XXV (Legend 1/2018), lot 266, realized $47,000 (Auction Record); Central States US Coins Signature Auction (Hertiage 5/2022), lot 3942, realized $40,800; Purchased in Private Transaction from Rare Coin Wholesalers (1/2023) for The D.L. Hansen Core Collection.
1893 Liberty Head Quarter Eagle Proof, PR67DCAM
PCGS POP 3/1, CAC Approved
Certification #83643518, PCGS #97919
PCGS Value Guide: $51,000 / Ask $56,000
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
It’s Raining Proof Three Dollar Gold, Part 1: 1854-63
An unprecedented number of Proof Three Dollar gold pieces has provided collectors with a bounty not seen since the late 1990s and early 2000s. By Doug Winter – RareGoldCoins.com, Published in CoinWeek, March 20, 2023
In this recent article, Mr. Winter continues by stating: Four important specialized sets of Proof Threes–owned by Tom Bender, the Harry Bass Foundation, Peter Huberman, and Bob Simpson–have given specialists an opportunity to bid on multiple examples of rare, low-mintage issues that haven’t been available in years. Many of these were of remarkable quality, and a number were the finest known or very close to it.
There is no questioning the fact that Dell Loy Hansen has used this opportunity to build a foundation to a high-quality set that can one day be in the conversation with the four important specialized sets mention by Mr. Winter. With this addition, the set is only four coins short of a full house of Proof Three Dollar Gold. There are still some additional Harry Bass coins to be sold in the next few weeks.
Mr. Winter continued his discussion by referencing several historic collections: Back in the late 1990s and early 2000s, there were a number of wide-ranging specialized Proof gold collections–including Pittman, Bass, and Childs–that hit the market one after the next. Some incredibly rare Proof issues in the half eagle, eagle, and double eagle denominations were suddenly available – some in multiples numbers. An issue like the 1868 eagle (to pick a random date/denomination) was offered twice (an NGC PR64 CAM and a PCGS PR65) in 1999. Since then, exactly two have appeared: one a PCGS PR60, the other a PCGS PR62. Around 2000, the “uncommon” seemed “common” when it came to Proof gold.
He continues by describing the current sales as: In 2023, we are seeing a similar situation on a more series-specific basis: Proof Threes. This “Throwdown of Threes” allows me to make some important observations on this series. In the following two-part article, I’ll discuss some of the coins which have sold thus far (we still have a few coins left from both the Bender and Bass collections) and put them into a context within the framework of this fascinating series. Please note that, due to time constraints, I won’t be discussing the common dates of this series.
This coin that we see today is one of those “Throwdown of Threes” and is mentioned in the article. The Simpson Specimen was sold AUG 22, 2022. At the time, it was described by Heritage Cataloger as: Eight to 10 Coins Extant, Sole Finest at PCGS. Since this sale, there has been the Harry Bass grading event that change the PCGS status of this coin and many others. The four remaining Proof Three Dollar Gold pieces need in the Hansen set is the 1857, 1858, 1871, and 1873.
It appears that Mr. Hansen skipped the last Bender Three Proof Sale that was held by Heritage Auction in February at Long Beach Expo. With missing this sale, can he still complete the Three Dollar Proofs in 2023? Not as confident as I was a few months ago. Even if not this year, then it will be interesting to watch to see if DL Hansen can complete the proof set in the near future. This will place the Hansen name in the record books with the likes of Bass, Bender, Garrett, Trompeter, Eliasberg, Huberman, Simpson and not to forget the Smithsonian National Numismatic Collection.
1861 Three Dollar Gold, PR65CAM, Ex: Rod Sweet / Simpson
Eight to 10 Coins Extant, Sole Finest at PCGS
The year 1861 was an important one in the three-dollar gold series, as Dave Bowers and Doug Winter explain in their 2005 series reference, The United States $3 Gold Pieces, 1854-1889. It was the last for which: " ... gold coins were paid out at face value by the Philadelphia Mint. After this time, $3 coins did not circulate at all in the East and Midwest. Small supplies were held by bullion dealers, banks, and exchange offices, and after December 28, 1861, could be bought by paying a premium in terms of paper money." Heritage Cataloger (8/2023). The Simpson PR65CAM specimen held the honor of "Sole Finest at PCGS" prior to the Bass grading event.
Expert David Akers wrote a few decades ago: The 1861 is possibly the most underrated three dollar gold piece in proof in the entire series. (A similar claim could be made for 1861 proofs of the other gold denominations as well.) The generally accepted proof mintage figure for this date is 113, but it is probable that, if 113 is the correct mintage, most of the pieces were subsequently melted. Probably less than ten proofs are known today, placing proofs of this date in the same rarity class as those of 1857 and 1858. PCGS CoinFacts gives the survival estimate to be 12 in all grades with one PR65 PCGS grade and two GEM CAMs. One is the Hansen/Simpson PR65CAM and the other the Harry Bass PR66CAM.
In Mr. Winter’s recent article, he wrote for the 1861 Three Dollar Proof:
As with the 1860, you can’t judge the rarity of this date by its original mintage. A total of 113 Proofs were struck but fewer than 10 are believed to survive today. The Bass coin is the numerically finest at PCGS, while the Simpson coin which was offered by Heritage in their 2022 ANA auction brought $132,000. It was graded PR65 CAM after having originally been graded PR66 by NGC.
Bass: PCGS PR66 CAM. Will be sold later this year. Should set a record for the date.
Bender: PCGS/CAC PR64+ CAM. While the Heritage images made this coin look very spotty, it was much nicer in person. I liked this coin very much and felt it was totally deserving of its “+” grade. I bid up to $50,000 but was unsuccessful, as the final price was a strong $78,000 including the buyer’s premium.
Huberman: Didn’t own a Proof.
I had thought Mr. Hansen and the DLRC team purchased the Simpson coin in the Heritage 2022 ANA Sale. After more than six months later, the registry was updated this week. What was the cause of the delay? Did someone else purchase the coin and it was purchased privately? Without updates from DLRC, we may never know. At the end of the day, the coin is now in the DL Hansen Collection.
Heritage Cataloger and Mr. Winter is in agreement of only 10 coins survived. David Akers thought it to be less than 10 and PCGS CoinFacts indicates 12. The Heritage Cataloger stated: A total of 5,959 circulation strikes and 113 three dollar gold proofs were manufactured in 1861. John Dannreuther explains that while the 1860 and 1861 claim similar proof mintages, "the number of extant coins is less for the 1861." He pegs the surviving population at just eight to 10 pieces. The reason for the massive discrepancy? Most of the mintage was melted as unsold in January 1862, with the outbreak of the Civil War having put "a damper on collecting" at that time.
It appears the Hansen/Simson coin is a solid condition census top three. It probably falls as CC#2 between the Bass Top Coin and the Bender Specimen with all three in recent grading events. The new Hansen coin is described in the auction as: The Bob R. Simpson specimen in PR65 Cameo certainly ranks among the finest known and may very well stand alone atop the Condition Census. It is the sole finest at PCGS, having been crossed over from a PR66 Cameo NGC holder. There are still two such grading events reported at that service, but they may represent a single coin (this one). Both sides exhibit profound depth of mirroring in the fields and frosty relief elements over light yellow-gold surfaces. A planchet void below the left side of the wreath bow serves as a pedigree marker.
Provenance: Ex: Rod Sweet Collection (Bowers and Merena, 10/2004 as PR66 NGC), lot 559, realized $57,500; Important Selections from The Bob R. Simpson Collection, Part IX / US Coins Signature Auction (Heritage, 8/2022 as PR65CAM PCGS), lot 1348, realized $132,000; D.L. Hansen Collection
1861 Three Dollar Gold, PR65CAM
PCGS POP 1/1
Certification #44160843, PCGS #88024
PCGS Price Guide $155,000 / Realized $132,000 (8/2022)
Ex: Sweet / Simpson
Link to It’s Raining Proof Three Dollar Gold
https://coinweek.com/us-coins/its-raining-proof-three-dollar-gold-part-1-1854-63/
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004
43% of the U.S. circulation strike set is finest or tied for finest. That is staggering.
Don't forget the J.P. Morgan collection of proof gold coinage at the ANS.
Historic Harry W. Bass Jr. Core Collection Part 3 (14 of 20)
RISE-LIKE-A-PHOENIX-FROM-THE-ASHES
To rise like a phoenix from the ashes means to emerge from a catastrophe stronger, smarter and more powerful. An example of rising like a phoenix from the ashes is someone who opens a new, successful business after his previous business has failed. - grammarist.com
Is it just me, or does the fiery phoenix resemble a golden eagle? This bird would make a fantastic coin. The reason I introduced the Hansen updates with the phoenix is because there has been a long break in significant purchases for Hansen Collection since the Historic Harry W. Bass Jr. Core Collection Part 2 sale and the Tom Bender Part II sale at the 2023 FUN US Coins Signature Auction in January. The pandemic and the uncertainly in coin prices have resulted in catastrophes from serval fronts. After tracking this Hansen Collection for more than five years, it appears to me it is extremely unusual to go four months without a significant update. In an unusual case, Dell Loy Hansen set out the third Tom Bender in February at Long Beach. I reached out to the collection curator, John Brush from David Lawrence Rare Coins to get some insight.
He was gracious to follow-up with some thoughts into the current conditions of the collection and environment. He wrote: Reason for adding very few coins (outside of a ton of moderns we added) is that we’re still trying to fill holes…and upgrades only when it makes sense. The market is strange right now. When people are offering coins, they are priced to the moon and the marketplace isn't supporting those values. So, we’re trying to be responsible and the upgrade opportunities and holes to fill are very few and far between. So it’s hard to find coins we need. The collection is far from dead right now. It’s just harder to find pieces that make sense!
The next to last sentence is certainly on-point that the collection is far from dead. The Hansen Team had a strong showing in the Harry W. Bass, Jr. Core Collection, Part III sale presented by Heritage Auctions in 2023 CSNS US Coins Signature sale. Before reviewing the Hansen purchases, let’s review the top five Bass Coins in this sale. In this third session of the sale highlighting the Signature Floor Session Platinum Night, The Harry W. Bass, Jr. Core Collection Part III was held featuring 122 coins. Two coins cracked the million-dollar mark with the top seller, the 1829 Capped Head Left Half Eagle, PR66+, Large Diameter, Large Date, BD-1, Only Two Proofs Known, Ex: Virgil Brand. The coin realized $2,880,000. The other million-dollar coin, the 1824/1 Capped Head Left Quarter Eagle, PR67, BD-1, JD-1, Only Dies for the Date, Only Proof in Private Hands, Ex: Seavey-Parmelee realized $1,740,000. There were two other coins that realized between $500K and $1 Million Dollars, the 1908 Ten Dollar Indian, PR65, Satin (Roman) Finish realizing $750,000 and the 1831 BD-1 Quarter Eagle, PR67 Cameo realizing $630,000. The next coin that rounded out the top five coins was the 1854 Quarter Eagle, PR64 Cameo realizing $480,000.
In raising from the ashes, the Hansen Team placed successful bids on seven coins. This purchase brings the total Bass coins acquired in the first three Bass sales to 20 coins realizing about $6.5 Million Dollars. In this sale, the team mostly focus on Bass Proofs by purchasing six coin. There was only one mint strike coin purchased, the 1827 Quarter Eagle, MS65 PCGS. This is one of the few upgrades that the Hansen Collection obtained. Five of the seven coins are gold proofs that fill holes in the collection. 1827 Quarter Eagle coin will be the first coin featured in this series.
1827 Quarter Eagle, BD-1, MS65 PCGS. Ex: Harry W. Bass
Reverse of 1825, Tied for the Finest Known
Expert David Akers wrote a few decades ago: Typically, this date is flatly struck on the head of Liberty, even more so than on the issues of 1824 and 1825. Choice specimens of this date are extremely rare, and are, in my experience, less available than for any other date of this type. The stars on the 1827, like those on the 1826, are much larger than the stars on the first three years of this type.
PCGS CoinFacts gives the survival estimate to be 50 in all grades. Of these coins, the estimate is that 18 can be found graded Mint state MS60 or better with an estimate only two GEM, MS65. This is incorrect (sort of) because in the Heritage Auctions listing for the Harry Bass sale, the cataloger identified three known MS65 specimens (including two PCGS and one NGC). The cataloger stated: Our census includes three pieces that are graded MS65 and tied for the finest known:
1. MS65 PCGS.- Superior Galleries, sold privately on 3/28/1978; Harry W. Bass, Jr. Foundation Collection. D.L. Hansen Core Collection
2. MS65 PCGS. - Hollinbeck Coin Company (Art and Paul Kagin), sold privately in 12/1951; Harold Bareford Collection (Stack's, 3/1985), lot 532; David Akers; D. Brent Pogue Collection, Part II (Stack's Bowers & Sotheby's, 9/2015), lot 2052, realized $152,750; High Desert Collection (PCGS Set Registry).
3. MS65 NGC. - ANA Signature (Heritage, 7/1988), lot 1943; FUN Signature (Heritage, 1/2007), lot 3395, not sold; Brooklyn Sale (Stack's, 3/2007), lot 1442, not sold; J.A. Sherman Collection (Stack's, 8/2007), lot 3080, realized $149,500; Baltimore Auction (Stack's Bowers, 6/2012), lot 4127, realized $94,000; HFW² Collection (Heritage, 1/2020), lot 4332, realized $96,000.
PCGS shows 17 grading events with 1827 Quarter Eagle Mint State Grades with seven lower graded (one MS61 and six MS62). Five coins have been graded choice MS63 and three MS64 (one with plus). The famous McCoy Family Collection and Oliver Jung Collection had MS64 PCGS specimens.
In the May 2023 sale of The Harry W. Bass, Jr. Core Collection, Part III US Coins Signature Auction, the cataloger wrote: In addition to those three Gem 1827 quarter eagles, we have records of 15 other lower Mint State grade coins, and 41 auction appearances of AU-level pieces that likely represent 20 to 30 different coins. The majority of surviving examples grade at least AU. PCGS and NGC have graded 67 examples in all grades including just seven coins that grade below AU50. In Early U.S. Gold Coin Varieties, A Study of Die States, 1795-1834, John W. Dannreuther estimates that 45 to 55 are known in all grades, an accurate survival, in our opinion.
The cataloger added: This 1827 quarter eagle represents one of the rare design types in American numismatics. Examples were struck bearing dates of 1821, 1824 over 1, 1825, 1826, and 1827. Seven die varieties are known including three of 1825 and one each of the other dates. Dannreuther estimates that between 279 and 340 examples survive for all seven varieties. Just two reverse dies were engraved for the total production of 17,042 coins.
In closing, Heritage described the coin as: This amazing Gem displays brilliant yellow-gold surfaces with frosty mint luster. The central design weakness is typical of most or all known examples. Lovely peripheral orange toning is noted in the protected areas of the obverse and adds to the visual appeal of this extraordinary quarter eagle.
The Bass Gem 1827 specimen replaces a PCGS AU55 that was purchased in a Heritage June 2017 Long Beach Expo US Coins Signature Auction. The coin realized $23,500. With the upgrade, the 12 piece Capped Bust $2-1/2 Gold Basic Set, Circulation Strikes (1808-1834) set has only four AU graded coins left. We could see more upgrades, if DLRC can obtain upgrades and still be “responsible” to the Hansen Collection. It appear to me this coin was a “very responsible” upgrade.
Provenance: Superior Galleries, sold privately on 3/28/1978 to Harry W. Bass, Jr.; The Harry W. Bass, Jr. Core Collection, Part III US Coins Signature Auction / Harry W. Bass, Jr. Foundation Collection, (Heritage 5/2023), lot 4509, realized $180,000, Purchased by David Lawrence Rare Coins (1/2023) for The D.L. Hansen Collection.
1827 Quarter Eagle, BD-1, MS65 PCGS
PCGS POP 2/0
Certification #46092943, PCGS #45522
PCGS Price Guide $225,000 / Realized $180,000
Ex: Harry W. Bass, Jr.
My 20th Century Gold Major Design Type Set ---started : 11/17/1997 ---- completed : 1/21/2004