By Charles Morgan and Hubert Walker for CoinWeek….
By George! You Look familiar…
As CoinWeek’s editors, we individually review each auction in order to plot out our coverage for the month’s events in numismatics. When looking over the lot offerings in Legend Rare Coin Auctions’ Regency XIII Sale, we could not help but notice a familiar piece: the exquisitely toned 1951-D Quarter (PCGS MS67+) that CoinWeek previewed back in December when Legend offered it in their Regency X sale. It’s the kind of coin you don’t easily forget.
It also has a curious sales history that grows more and more interesting each time we see it offered for sale.
From the December write-up:
This piece is a cut above most 67s we’ve seen and has earned a 67+ from PCGS. The coin has an interesting auction history, despite the fact that it was probably first graded at the end of 2012.
In January 2013, the coin brought $12,337.50 at the US Coin FUN Signature Auction, conducted by Heritage. At the time it was a “Pop 1” coin, with none graded higher. The winner of the coin did not place it in a competitive registry set but instead consigned the coin at the ANA National Money Show US Coins Signature Auction, again by Heritage, where it brought $6,462.50. By this time an MS68 had been made, thereby dethroning the MS67+ from its top pop perch.
The $6,756 price (with buyer’s premium) that the ’51-D brought in December 2014 beat Heritage’s number by a few hundred dollars.
Since that time ANOTHER 1951-D in MS67+ has been made, making this ’51-D a Pop 2 coin with one finer.
PCGS shows the other 1951-D in CoinFacts and by our own judgment, the two coins aren’t even remotely in the same league. The piece being offered in Regency XIII is much, much better. It has better color, better surfaces, and a better strike.
So far, six bidders have pushed the no-reserve lot to $4,100 ($4,875 with BP). Does that mean the hammer price will be close to the $6,000+ prices the quarter brought previously, or will the addition of the second 67+ further erode its market value?
Such are the questions that surround investing and collecting in conditionally rare modern coins. Even ones as beautiful and singular as this 1951-D.