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Time Travel: Coin World's Review of Pittman, Part One (1997)
GeorgeKellogg
Posts: 1,251 ✭✭
In the very long thread about the Pogue coins and CAC, I drew some parallels between the John Pittman Auctions -- where the coins were sold uncertified -- and the upcoming Pogue Auction, where the coins were re-holdered by PCGS, without the former CAC stickers. As part of my comments, I offered my recollections of the atmosphere surrounding the first Pittman Auction, which I attended -- as a private collector -- in Baltimore, in October 1997. Probably because the first Pittman Auction was so long ago, there were considerable differences in my memories of the event and those of some other Forum attendees.
To benefit the Forum members who didn't attend the Pittman sales, as well as to provide an independent review that was made just days after the conclusion of the first Pittman sale, I typed and posted two related Coin World articles that I had in my numismatic files. Since the articles are buried deep in the long Pogue thread, I thought some Forum members might not see them. Therefore, I am creating a new thread in which to post the Coin World articles.
After reading the articles, my sense that the Pittman sales were very exciting, extremely competitive, and of special significance in the annals of American Numismatic history was reinforced. John Pittman's return on investment was often incredible, with some coins realizing over a thousand times his original purchase price -- all accomplished on an engineer's salary. To my mind, the Pittman Collection is a case study of what is possible -- if a collector is knowledgeable, makes judicious purchases, and holds the material for the long term. Granted, Mr. Pittman was aided by coming along at the right time in history, when certain rarities could be purchased for very reasonable prices.
I hope that our Forum members enjoy this trip back in time!
Pittman coinage awes bidders as many compete for great rarities
Coins in the first three sessions realize $11.8 million total
By Mark Ferguson
Special to Coin World
Part one of the John Jay Pittman collection auction, conducted in three sessions on Oct. 21-23 by David Akers Numismatics Inc. in Baltimore, realized $11,822,283, astonishing the late Pittman’s family and bidders alike.
The first session realized $1,046,870; the second session, $3,260,246; and the third session, $7,515,167.
The top bid for a single coin in the auction was $467,500 for a Proof 1833 Capped Head, Large Wide Date $5 half eagle. The winning bid, which includes the 10 percent buyer’s fee, is even more astonishing in light of Pittman’s 1954 purchase price for the coin: $635!
The 1833 half eagle is David Akers’ favorite coin of Pittman’s entire collection. Just two of these coins are known; the other one resides in the Smithsonian Institution. When the lot was reached, auctioneer Tom Mulvaney joked, “Whoever buys this lot has to grant visitation rights in perpetuity to David Akers!”
The lot opened at $300,000. Gold coin dealer Al Adams was the winner. He was acting as agent for “The Gold Rush Collection,” which is not only a high-end coin collection, but is comprised of many other historical items related to the Gold Rush days.
The Gold Rush Collection was also the purchaser of Pittman’s gem Proof 1835 Classic Head half eagle. It opened at $120,000 and climbed to settle at $308,000. Just three of these coins are known. One is in the Smithsonian, and in one easy guess we can figure out who owns the third. Yes, John Jay Pittman! (Note: There was no mention of the second example).
Additional coverage of the John Jay Pittman Collection appears on Pages 8, 16, and 30.
Pittman auction wows bidders
Many coins bring thousands of times their purchase price
By Mark Ferguson
Special to Coin World
Approximately 200 people, including a large contingent of family and family friends, looked on Oct. 21 in Baltimore’s Marriott Inner Harbor Hotel as David Akers Numismatics Inc. auctioneer Tom Mulvaney launched the first of a three-session auction by calling for bids on the late John Jay Pittman’s favorite coin: a 1936 Canadian “Dot” cent.
A very small dot appears below the date. The coin is one of three known, all resident in the John Jay Pittman Collection. Catalogued as a “Gem Specimen,” Lot No. 1 opened at $35,000 and after very competitive bidding – including participation from the Bank of Canada – the lot soared to reach a final price of $121,000, including the 10 percent buyer’s fee.
Prices reported throughout include the 10 percent buyer’s fee.
Thirteen lots of common Canadian coins were sold as Mulvaney worked hard at keeping up a brisk pace before Lot 15, the 1936 Canadian “Dot” dime, came up for sale. It is known for a tiny dot that appears below the wreath on its reverse. Akers cataloged it as “gem Specimen” with “Matte Proof surfaces.” The Pittman specimen is one of four known. Two are owned by the Bank of Canada, the remaining one by Pittman. No 1936 “Dot” dime had ever been offered at public auction. (Note: No mention was made of the third specimen).
Lot 15 opened at $32,500 and virtually the same group of bidders who vied for Lot 1 were in the chase. At the end of the bidding, the price had risen to an astounding $132,000.
The Dot dime surprised Polly Pittman, John’s daughter. “It went right past $80,000 and sold for more than the Dot cent!” she exclaimed.
Both “Dot” coins were sold to collectors. Their prices greatly exceeded the auction firm’s pre-sale estimates, which were $50,000 to $60,000 for the Dot cent, and $40,000 to $50,000 for the Dot dime.
Other Canadian coins in the sale comprised Uncirculated and Specimen coins, similar to Proof coins of United States issue. Bidding was intense for virtually each coin in the session. Less than 10 percent of the Canadian coins were sold to mail bidders and the vast majority sold for multiples of their opening bids.
U.S. coins brought more bidders into the action. First to cross the auction block were U.S. Colonial coins. The first was Lot 107, a Very Fine 1662 Massachusetts Oak Tree twopence, purchased at auction by Pittman on Dec. 12, 1945, for $14. It sold for $400.
Half cents and large cents followed the Colonials and fierce competition ensued, as it did for the rest of (the) first session. Competition was so tough that just one of a total of 291 lots in the U.S. section went to a mail bidder, and the auction took nearly twice as long as an average auction to sell the lots.
Catalogued as “one of the finest of JJP’s Proof Half Cents,” was a very rare 1847 Coronet half cent, “very choice Proof.” It cost John $73.50 in the B. Max Mehl sale of the Dr. C.A. Allenburger Collection on March 23, 1948. The coin fetched $12,100 in this sale.
In the large cent section a Sheldon 71 variety (Penny Whimsy, by William H. Sheldon) 1794 Liberty Cap cent graded choice Very Fine brought $3,300; an Uncirculated 1795 Liberty Cap, Plain Edge cent which cost $165 on April 23, 1960, brought $5,500.
Lot No. 196 was a “possibly unique Proof 1819/8 large cent.” It opened at $4,700 and sold to dealer Keven Lipton at $19,800 in a heated contest with dealer Anthony Terranova. The catalog states, “JJP purchased this Proof for $70 as Lot 568 of the Anderson DuPont sale of September 24-25, 1954, conducted by Stack’s.”
Lot 227 brought out “all kinds of bidders” as auctioneer Tom Mulvaney remarked during the heat of the bidding action. The coin is an 1837 Coronet, Plan Hair Cord, Medium Letters cent graded gem Uncirculated. Its price climbed from $300 to $4,125. After Lot 235, a choice Proof 1841 Coronet cent, was hammered down to dealer Kevin Lipton for $16,500, an audible whistle came from someone in the crowd who was amazed by the price. Pittman paid $80 for the coin on Aug. 7, 1952.
The Pittman collection wasn’t comprised of just rarities. He collected many coins which are also sought after by today’s collectors of average means. The home stretch (of) the first session of the auction offered a selection of Proof and Mint State Flying Eagle and Indian Head cents, Lincoln cents, 2- and 3-cent coins, and Shield, Liberty, and Indian Head 5-cent coins.
The catalog lists examples of some of the prices Pittman paid that are fun to compare to the prices for which they sold. For example, he purchased an 1877 Indian Head cent cataloged as “Good to Very Good” for $4.40; it sold for $412.50. He paid 65 cents on July 20, 1943, for a choice Uncirculated 1910-S Lincoln cent which sold for $357.50.
A “very choice Proof” 1869 2-cent coin brought $2,200. John bought that one for $40 in March 1961.
The top copper-nickel 3-cent coin, a “very choice Proof” 1865, realized $3,850. He paid $225 for the coin.
Two “gem Proof” Liberty 5-cent coins – a 1907 and a 1909 – tied for top spot in that series at $1,320 each. He paid $19 for the 1909 in July 1961.
Three “choice Uncirculated” Indian Head 5-cent coins purchased in April 1952 sold as follows: 1918-D. $1,430, original cost $31; 1919-S, $2,420, original cost $38; 1920-S, $3,300, original cost $36.
The second session of the John Jay Pittman Collection auction Oct. 22 began with a run of silver 3-cent coins forming a complete date set which included Proofs and Mint State examples except the 1859. Prices for these coins were extremely strong.
The very rare 1802 Draped Bust half dime in Extremely Fine condition came up for sale a few lots later. It brought $55,000 for a 1947 investment of $630.
A choice About Uncirculated 1805 Draped Bust half dime described as “possibly the second or third finest known,” was purchased by Pittman on May 24, 1952, for $88. It brought $14,300.
The Seated Liberty half dime offering began with an 1837, No Stars, Large Date in Gem Proof, described as “one of the finest of just 16-20 proofs known.” It opened at $24,000 and climbed to $60,500. Pittman bought the coin for $25 on July 15, 1947.
An 1840 Seated Liberty, No Drapery, choice Proof, (brought) $24,200, cost on Aug. 21, 1947, $20. An 1849 gem Proof, (brought) $38,500, cost, $17.50 on Oct. 25, 1946.
One notable coin for which loud chatter was heard in the crowd after its sale was an 1853 Seated Liberty, Arrows at Date half dime, graded Gem Uncirculated, that opened at $7,500 and soared to $77,000! This coin was described by Walter Breen as a Proof. Cataloger Akers doesn’t agree, calling it “gem Uncirculated,” but states “others may examine it and feel as Breen, Bullowa, Pittman and others did in 1952 that it is a Proof.” The coin was purchased by dealer Julian Liedman, acting as agent for a collector who, Leidman says, is building a complete set of Proofs.
The dimes began with an Uncirculated 1796 Draped Bust, Four Berries dime which brought $20,900, purchased by Pittman for $30 in June 1945.
Next was a 1797 Draped Bust, 16 Stars, Pointed 9 dime, graded very choice Uncirculated. Pittman bought it June 15, 1950, at a cost of $180. It sold for $66,000.
An 1805 Draped Bust, Four Berries dime in gem Uncirculated brought $82,500. Pittman’s cost was $27 in December 1945.
An 1807 Draped Bust dime described as gem Uncirculated that he purchased for $10.75 in February 1946 found a new home for $49,500. As its price escalated the auctioneer exclaimed, “There’s $30,000 everywhere!”
The 1839 half dollar pattern in Gem Proof, which was featured in Coin World’s pre-sale six-part series, fetched $46,750 after opening at $18,000.
The 1877 $50 “Half Union” pattern struck in copper fetched $110,000 in heated bidding. Dealer Kevin Lipton won the lot as agent for the collector he was representing while the two were communicating via cellular phone.
One coin Pittman was reluctant to reveal he owned was his 1916 Walking Liberty half dollar pattern. He believed it might be illegal to own, and therefore subject to confiscation. At auction the pattern brought $35,750.
Attendance at the second session grew from the opening session and bidding competition intensified. Total prices realized during the second session (was) $3,260,246, including the 10 percent buyer’s fee.
The very choice Proof 1854 Indian Head gold dollar featured in the six-part Coin World series sold for $176,000. It is one of four gold coins he won at auction in 1956 when he stood like the Statue of Liberty facing the crowd with his hand held high in the air, daring anyone to bid against him.
A choice Uncirculated 1854 Indian Head gold dollar may have provided the best return on his money. He paid $7 for it in October 1945. Auction attendees watched it bring $55,000 in this sale.
Pittman’s choice Proof 1855 Indian Head gold dollar brought $121,000.
Another 67 gold lots, most realizing several thousand dollars each, were auctioned before cataloger (Note: this is a sentence fragment – with the end of the sentence missing).
Gold coins are the hottest items in the coin market today, and some of the prices realized at the John Jay Pittman sale were extraordinary. Dealer Jay Parrino, who has set many price records in recent years, said he didn’t buy as much as he wanted to at the Pittman sale because prices were just too high.
Following is just a small sampling of the significant pieces: gem Proof 1836 Classic Head, Large 5 half eagle, $198,000, three are known; very choice Uncirculated 1837 Classic Head half eagle, $60,500; choice Uncirculated 1840-C Coronet half eagle, $77,000; choice Uncirculated 1841-C Coronet half eagle, $42,350; 1842 Coronet, Small Date, Small Letters Proof half eagle, $93,500; gem Uncirculated 1847 Coronet half eagle, $110,000; choice Proof 1848 Coronet half eagle, $93,500; gem Proof 1900 Coronet half eagle, $88,000; gem Uncirculated 1910-D Indian Head half eagle, $73,150. When this last lot was sold the auctioneer said, “These numbers are just too big!”
Pittman loved Proof coins, and this run of Proof Coronet $20 gold coins reveals a pricing trend: 1876 Proof, $55,000; 1888 very choice Proof, $63,250; 1889 very choice Proof, $52,800; 1890 choice Proof, $30,800.
When a gem Proof 1891 Coronet (double) eagle came up for sale the auctioneer exclaimed, “One of my favorite coins in the sale!” The coin proceeded to sell for $60,500.
After an 1896 gem Proof (double eagle) sold for $121,000, a few people applauded and an audience member yelled, “Way to go!”
One of Pittman’s favorite coins was his gem Proof 1913 Saint-Gaudens double eagle because 1913 was his birth year. The coin realized $74,250!
To benefit the Forum members who didn't attend the Pittman sales, as well as to provide an independent review that was made just days after the conclusion of the first Pittman sale, I typed and posted two related Coin World articles that I had in my numismatic files. Since the articles are buried deep in the long Pogue thread, I thought some Forum members might not see them. Therefore, I am creating a new thread in which to post the Coin World articles.
After reading the articles, my sense that the Pittman sales were very exciting, extremely competitive, and of special significance in the annals of American Numismatic history was reinforced. John Pittman's return on investment was often incredible, with some coins realizing over a thousand times his original purchase price -- all accomplished on an engineer's salary. To my mind, the Pittman Collection is a case study of what is possible -- if a collector is knowledgeable, makes judicious purchases, and holds the material for the long term. Granted, Mr. Pittman was aided by coming along at the right time in history, when certain rarities could be purchased for very reasonable prices.
I hope that our Forum members enjoy this trip back in time!
Pittman coinage awes bidders as many compete for great rarities
Coins in the first three sessions realize $11.8 million total
By Mark Ferguson
Special to Coin World
Part one of the John Jay Pittman collection auction, conducted in three sessions on Oct. 21-23 by David Akers Numismatics Inc. in Baltimore, realized $11,822,283, astonishing the late Pittman’s family and bidders alike.
The first session realized $1,046,870; the second session, $3,260,246; and the third session, $7,515,167.
The top bid for a single coin in the auction was $467,500 for a Proof 1833 Capped Head, Large Wide Date $5 half eagle. The winning bid, which includes the 10 percent buyer’s fee, is even more astonishing in light of Pittman’s 1954 purchase price for the coin: $635!
The 1833 half eagle is David Akers’ favorite coin of Pittman’s entire collection. Just two of these coins are known; the other one resides in the Smithsonian Institution. When the lot was reached, auctioneer Tom Mulvaney joked, “Whoever buys this lot has to grant visitation rights in perpetuity to David Akers!”
The lot opened at $300,000. Gold coin dealer Al Adams was the winner. He was acting as agent for “The Gold Rush Collection,” which is not only a high-end coin collection, but is comprised of many other historical items related to the Gold Rush days.
The Gold Rush Collection was also the purchaser of Pittman’s gem Proof 1835 Classic Head half eagle. It opened at $120,000 and climbed to settle at $308,000. Just three of these coins are known. One is in the Smithsonian, and in one easy guess we can figure out who owns the third. Yes, John Jay Pittman! (Note: There was no mention of the second example).
Additional coverage of the John Jay Pittman Collection appears on Pages 8, 16, and 30.
Pittman auction wows bidders
Many coins bring thousands of times their purchase price
By Mark Ferguson
Special to Coin World
Approximately 200 people, including a large contingent of family and family friends, looked on Oct. 21 in Baltimore’s Marriott Inner Harbor Hotel as David Akers Numismatics Inc. auctioneer Tom Mulvaney launched the first of a three-session auction by calling for bids on the late John Jay Pittman’s favorite coin: a 1936 Canadian “Dot” cent.
A very small dot appears below the date. The coin is one of three known, all resident in the John Jay Pittman Collection. Catalogued as a “Gem Specimen,” Lot No. 1 opened at $35,000 and after very competitive bidding – including participation from the Bank of Canada – the lot soared to reach a final price of $121,000, including the 10 percent buyer’s fee.
Prices reported throughout include the 10 percent buyer’s fee.
Thirteen lots of common Canadian coins were sold as Mulvaney worked hard at keeping up a brisk pace before Lot 15, the 1936 Canadian “Dot” dime, came up for sale. It is known for a tiny dot that appears below the wreath on its reverse. Akers cataloged it as “gem Specimen” with “Matte Proof surfaces.” The Pittman specimen is one of four known. Two are owned by the Bank of Canada, the remaining one by Pittman. No 1936 “Dot” dime had ever been offered at public auction. (Note: No mention was made of the third specimen).
Lot 15 opened at $32,500 and virtually the same group of bidders who vied for Lot 1 were in the chase. At the end of the bidding, the price had risen to an astounding $132,000.
The Dot dime surprised Polly Pittman, John’s daughter. “It went right past $80,000 and sold for more than the Dot cent!” she exclaimed.
Both “Dot” coins were sold to collectors. Their prices greatly exceeded the auction firm’s pre-sale estimates, which were $50,000 to $60,000 for the Dot cent, and $40,000 to $50,000 for the Dot dime.
Other Canadian coins in the sale comprised Uncirculated and Specimen coins, similar to Proof coins of United States issue. Bidding was intense for virtually each coin in the session. Less than 10 percent of the Canadian coins were sold to mail bidders and the vast majority sold for multiples of their opening bids.
U.S. coins brought more bidders into the action. First to cross the auction block were U.S. Colonial coins. The first was Lot 107, a Very Fine 1662 Massachusetts Oak Tree twopence, purchased at auction by Pittman on Dec. 12, 1945, for $14. It sold for $400.
Half cents and large cents followed the Colonials and fierce competition ensued, as it did for the rest of (the) first session. Competition was so tough that just one of a total of 291 lots in the U.S. section went to a mail bidder, and the auction took nearly twice as long as an average auction to sell the lots.
Catalogued as “one of the finest of JJP’s Proof Half Cents,” was a very rare 1847 Coronet half cent, “very choice Proof.” It cost John $73.50 in the B. Max Mehl sale of the Dr. C.A. Allenburger Collection on March 23, 1948. The coin fetched $12,100 in this sale.
In the large cent section a Sheldon 71 variety (Penny Whimsy, by William H. Sheldon) 1794 Liberty Cap cent graded choice Very Fine brought $3,300; an Uncirculated 1795 Liberty Cap, Plain Edge cent which cost $165 on April 23, 1960, brought $5,500.
Lot No. 196 was a “possibly unique Proof 1819/8 large cent.” It opened at $4,700 and sold to dealer Keven Lipton at $19,800 in a heated contest with dealer Anthony Terranova. The catalog states, “JJP purchased this Proof for $70 as Lot 568 of the Anderson DuPont sale of September 24-25, 1954, conducted by Stack’s.”
Lot 227 brought out “all kinds of bidders” as auctioneer Tom Mulvaney remarked during the heat of the bidding action. The coin is an 1837 Coronet, Plan Hair Cord, Medium Letters cent graded gem Uncirculated. Its price climbed from $300 to $4,125. After Lot 235, a choice Proof 1841 Coronet cent, was hammered down to dealer Kevin Lipton for $16,500, an audible whistle came from someone in the crowd who was amazed by the price. Pittman paid $80 for the coin on Aug. 7, 1952.
The Pittman collection wasn’t comprised of just rarities. He collected many coins which are also sought after by today’s collectors of average means. The home stretch (of) the first session of the auction offered a selection of Proof and Mint State Flying Eagle and Indian Head cents, Lincoln cents, 2- and 3-cent coins, and Shield, Liberty, and Indian Head 5-cent coins.
The catalog lists examples of some of the prices Pittman paid that are fun to compare to the prices for which they sold. For example, he purchased an 1877 Indian Head cent cataloged as “Good to Very Good” for $4.40; it sold for $412.50. He paid 65 cents on July 20, 1943, for a choice Uncirculated 1910-S Lincoln cent which sold for $357.50.
A “very choice Proof” 1869 2-cent coin brought $2,200. John bought that one for $40 in March 1961.
The top copper-nickel 3-cent coin, a “very choice Proof” 1865, realized $3,850. He paid $225 for the coin.
Two “gem Proof” Liberty 5-cent coins – a 1907 and a 1909 – tied for top spot in that series at $1,320 each. He paid $19 for the 1909 in July 1961.
Three “choice Uncirculated” Indian Head 5-cent coins purchased in April 1952 sold as follows: 1918-D. $1,430, original cost $31; 1919-S, $2,420, original cost $38; 1920-S, $3,300, original cost $36.
The second session of the John Jay Pittman Collection auction Oct. 22 began with a run of silver 3-cent coins forming a complete date set which included Proofs and Mint State examples except the 1859. Prices for these coins were extremely strong.
The very rare 1802 Draped Bust half dime in Extremely Fine condition came up for sale a few lots later. It brought $55,000 for a 1947 investment of $630.
A choice About Uncirculated 1805 Draped Bust half dime described as “possibly the second or third finest known,” was purchased by Pittman on May 24, 1952, for $88. It brought $14,300.
The Seated Liberty half dime offering began with an 1837, No Stars, Large Date in Gem Proof, described as “one of the finest of just 16-20 proofs known.” It opened at $24,000 and climbed to $60,500. Pittman bought the coin for $25 on July 15, 1947.
An 1840 Seated Liberty, No Drapery, choice Proof, (brought) $24,200, cost on Aug. 21, 1947, $20. An 1849 gem Proof, (brought) $38,500, cost, $17.50 on Oct. 25, 1946.
One notable coin for which loud chatter was heard in the crowd after its sale was an 1853 Seated Liberty, Arrows at Date half dime, graded Gem Uncirculated, that opened at $7,500 and soared to $77,000! This coin was described by Walter Breen as a Proof. Cataloger Akers doesn’t agree, calling it “gem Uncirculated,” but states “others may examine it and feel as Breen, Bullowa, Pittman and others did in 1952 that it is a Proof.” The coin was purchased by dealer Julian Liedman, acting as agent for a collector who, Leidman says, is building a complete set of Proofs.
The dimes began with an Uncirculated 1796 Draped Bust, Four Berries dime which brought $20,900, purchased by Pittman for $30 in June 1945.
Next was a 1797 Draped Bust, 16 Stars, Pointed 9 dime, graded very choice Uncirculated. Pittman bought it June 15, 1950, at a cost of $180. It sold for $66,000.
An 1805 Draped Bust, Four Berries dime in gem Uncirculated brought $82,500. Pittman’s cost was $27 in December 1945.
An 1807 Draped Bust dime described as gem Uncirculated that he purchased for $10.75 in February 1946 found a new home for $49,500. As its price escalated the auctioneer exclaimed, “There’s $30,000 everywhere!”
The 1839 half dollar pattern in Gem Proof, which was featured in Coin World’s pre-sale six-part series, fetched $46,750 after opening at $18,000.
The 1877 $50 “Half Union” pattern struck in copper fetched $110,000 in heated bidding. Dealer Kevin Lipton won the lot as agent for the collector he was representing while the two were communicating via cellular phone.
One coin Pittman was reluctant to reveal he owned was his 1916 Walking Liberty half dollar pattern. He believed it might be illegal to own, and therefore subject to confiscation. At auction the pattern brought $35,750.
Attendance at the second session grew from the opening session and bidding competition intensified. Total prices realized during the second session (was) $3,260,246, including the 10 percent buyer’s fee.
The very choice Proof 1854 Indian Head gold dollar featured in the six-part Coin World series sold for $176,000. It is one of four gold coins he won at auction in 1956 when he stood like the Statue of Liberty facing the crowd with his hand held high in the air, daring anyone to bid against him.
A choice Uncirculated 1854 Indian Head gold dollar may have provided the best return on his money. He paid $7 for it in October 1945. Auction attendees watched it bring $55,000 in this sale.
Pittman’s choice Proof 1855 Indian Head gold dollar brought $121,000.
Another 67 gold lots, most realizing several thousand dollars each, were auctioned before cataloger (Note: this is a sentence fragment – with the end of the sentence missing).
Gold coins are the hottest items in the coin market today, and some of the prices realized at the John Jay Pittman sale were extraordinary. Dealer Jay Parrino, who has set many price records in recent years, said he didn’t buy as much as he wanted to at the Pittman sale because prices were just too high.
Following is just a small sampling of the significant pieces: gem Proof 1836 Classic Head, Large 5 half eagle, $198,000, three are known; very choice Uncirculated 1837 Classic Head half eagle, $60,500; choice Uncirculated 1840-C Coronet half eagle, $77,000; choice Uncirculated 1841-C Coronet half eagle, $42,350; 1842 Coronet, Small Date, Small Letters Proof half eagle, $93,500; gem Uncirculated 1847 Coronet half eagle, $110,000; choice Proof 1848 Coronet half eagle, $93,500; gem Proof 1900 Coronet half eagle, $88,000; gem Uncirculated 1910-D Indian Head half eagle, $73,150. When this last lot was sold the auctioneer said, “These numbers are just too big!”
Pittman loved Proof coins, and this run of Proof Coronet $20 gold coins reveals a pricing trend: 1876 Proof, $55,000; 1888 very choice Proof, $63,250; 1889 very choice Proof, $52,800; 1890 choice Proof, $30,800.
When a gem Proof 1891 Coronet (double) eagle came up for sale the auctioneer exclaimed, “One of my favorite coins in the sale!” The coin proceeded to sell for $60,500.
After an 1896 gem Proof (double eagle) sold for $121,000, a few people applauded and an audience member yelled, “Way to go!”
One of Pittman’s favorite coins was his gem Proof 1913 Saint-Gaudens double eagle because 1913 was his birth year. The coin realized $74,250!
"Clamorous for Coin"
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Comments
Not really looking for much these days but if I were, it might be a toner.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
OINK
<< <i> . . . . . But back in 1997 I was into fast cars and fast women. In retrospect I would have been better off financially with the coins, but the memories are "special".
OINK >>
Somehow this resonates with W.C. Fields response when asked "Where did all the money go?"
"I spent half on women and gambling. The rest I wasted"
The PCGS Auction Prices Realized database lists the 1802 Half Dime in the 1997 Pittman sale as EF45 PCGS.
However, your recollection is that the coins were uncertified.
Is there a way to resolve this conflict?
http://www.pcgs.com/auctionprices/details.aspx?r=4268&v=&dv=1802&pf=ms&c=92&g=0
The Pittman coins were all raw.
Maybe it holdered later as a 45 and they use it in CoinFacts, but it was raw in Pittman, as were all the others. If it's listed in auction results as TPG-graded in that auction, they are wrong.