HomeAuctionsDavid Lawrence Rare Coins Auction Highlights for August 16, 2015

David Lawrence Rare Coins Auction Highlights for August 16, 2015


David Lawrence Rare Coins, a numismatic firm in Virginia Beach, Virginia, offers weekly online coin auctions that provide customers with a diverse array of circulated, uncirculated, and proof classic and modern coins from the United States, as well as foreign coins. Most David Lawrence coin auctions offer between 150 and 300 coins. This wide selection of gold, silver, copper, and nickel coinage includes common and rare coins that are priced for buyers on nearly any budget.

One of the significant advantages of buying coinage from David Lawrence Rare Coins is that they don’t charge buyer’s premiums, which most other auction companies impose on their customers. Typically, buyer’s fees will increase the final price by 8 to 15 percent. So, David Lawrence rare coin lots are therefore relatively more affordable than coins offered by other auction firms.

Auction #868 Wrap Up

David Lawrence Rare Coins Auction #868, which closed on August 9, 2015, featured nearly 200 lots and a variety of coins ranging from U.S. type coins to classic commemoratives and American Silver Eagle bullion coinage to an Italian gold coin that is more than 100 years old.

Here are just five highlights from Auction #868:

#1 – 1983 Lincoln Memorial cent PCGS MS-67+ Red – $48.00

Zinc-based Lincoln cents are notorious for plating problems and other surface issues, making it extraordinarily difficult to find high-quality specimens. However, this MS-67+ 1983 Lincoln cent somehow survived more than 30 years with gorgeous red color and crisp, clean surfaces. According to the Professional Coin Grading Service, just three 1983 Lincoln cents grade MS-67+ with red surfaces, and there are only 27 in MS-68 with none higher.

#2 – 1796 Draped Bust Dime PCGS AU-53 “LIKERTY” – $14,755.00

The 1796 Draped Bust dime is a very important piece for coin collectors as it represents the first year of production for the denomination. With just 22,135 pieces originally made, it remains rare today across all grades, though there are a few high-grade survivors such as this AU-53 piece. PCGS lists 11 in a grade of AU-53; remarkably, at least one piece grades as high as MS-68, suggesting that, possibly, several 1796 dimes may have been struck for high-profile individuals who preserved the quality of these first-year dimes.

#3 – 1953 Franklin Half Dollar PCGS Proof 67 Deep Cameo CAC Designated – $10,250.00

With its black fields and frosty white devices, this 1953 proof Franklin half dollar is a stunning specimen from the earlier days of United States proof coinage. While technically considered a “modern” proof by most every measure, cameo proofs did not become the norm at the U.S. Mint until the mid-1970s. For that reason, earlier cameo proof coins command substantial premiums. The cameo effect is close to, but not quite, 100 percent in terms of its device coverage; a small part of the eagle’s left wing on the reverse is missing the cameo frost, as are the letters “A” and “R” in the word “DOLLAR.” Still, this coin has tremendous eye appeal.

#4 – 1800 PCGS Fair-2 Draped Bust Dollar – $600.00

There is widespread appeal for Draped Bust coinage. It seems to be the case most particularly for Draped Bust dollars, which are early representatives of the nation’s unitary denomination. Early silver dollars in general are scarce, with some estimates suggesting that as few as 3 percent of the original production may still exist. Of course, not all of these coins, which are now more than two centuries old, remain in the best condition. So is the case with this 1800 Draped Bust dollar, which grades Fair-2. While it has excellent, original color, it’s best chances of finding a numismatic home are either in a low-ball grade type set or perhaps as an acquisition for a budget-minded coin collector.

#5 – 1806 Draped Bust $5 Gold Half Eagle NGC AU-53 (Knobbed 6) – $8,900.00

Early gold coins are often a top-pick among coin collectors who have a bit of extra cash to spend on their hobby. Compared to their original mintages, early 19th-century U.S. gold coins are exceptionally scarce and therefore demand high prices. The Numismatic Guaranty Corporation list 14 examples grading AU-53 and just 174 pieces across all grades, which is a very small fraction of an already low mintage of 54,417 pieces.

Auction #869 Preview

Perhaps you did not have the opportunity to buy any of the coins listed above, but there are more lots open for bids in David Lawrence Auction #869. Here’s a look at five coins buyers can choose from this week:

#1 – 1857 Flying Eagle One Cent “OGH” PCGS MS-64

This 1857 Flying Eagle cent is housed in a PCGS slab widely referred to as an “Original Green Holder” or OGH – the early style PCGS slab. Why is a premium placed on OGH holders? The thinking among many numismatists is that PCGS had a relatively strict grading policy in their early years, leading some of these OGH coins to be cracked out of their original holders and reslabbed one or two grade points higher. Sometimes, this crackout philosophy has lead to some steady profits for buyers of OGH coins, though not all of these OGH slabs yield coins that would qualify for higher grades today. The old adage of buy the coin, not the holder applies for any and all slabbed coins.

#2 – 1860 Seated Liberty Quarter NGC Proof-66

This pre-Civil War Seated Liberty quarter boasts some brilliant surfaces and incredible eye appeal. Early proof coins are fantastic pieces to own, though sometimes they are disregarded by coin collectors, and even by series enthusiasts. While it’s a shame that 19th-century proof coins don’t have more followers, that’s good news for those who do buy these coins – these extremely scarce treasures are still relatively affordable as compared to their marketplace availability. NGC lists just eight survivors in this proof grade.

#3 – 1795 Flowing Hair Half Dollar NGC VG-8

This two-year type coin is popular with collectors who enjoy 18th-century U.S. coinage. Boasting dark gray surfaces and clean surfaces, this coin exudes handsome originality and is a nice representative of early U.S. half dollars. While 299,680 were minted, it’s important not to read too much into mintage figures, especially coins of this age. A tiny fraction of that figure survives today, meaning this coin is much scarcer than what published production numbers would suggest.

#4 – 1876-CC Trade Dollar NGC AU-53

All coins from the Carson City Mint are desirable acquisitions for collectors who enjoy rare coins. For those numismatists, this 1876 Trade dollar represents a great buy, as Trade dollars themselves are also comparatively scarce; many were melted down or lost overseas in the foreign marketplace. For the record, 509,000 1876-CC Trade dollars were minted, and NGC has, as of this writing, graded 172 across all grades.

#5 – 1937 Roanoke Half Dollar NCG MS-67+ CAC Designated

This 1937 half dollar honors the 350th anniversary of Sir Walton Raleigh’s “Lost Colony” and the birth of Virginia Dare, the first European-American child born in British North America. Only 29,030 pieces were minted for this half dollar, one of several commemorative coins struck in the mid 1930s, which is a period usually referred to as the height of U.S. commemorative half dollar production.

Whether or not you decide to pursue any of these David Lawrence coins, chances are there is something in the marketplace right now that tickles your numismatic fancy. Buying new coins for your collection is an enjoyable way to enjoy your hobby and help further your knowledge of the incredible pastime we call numismatics.

Happy collecting!

Coinweek is the top independent online media source for rare coin and currency news, with analysis and information contributed by leading experts across the numismatic spectrum.

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