Energetic online and floor bidding for stellar coins, including 1913 $20 gold PCG PR66 CAC – top lot at $109,250
Legend-Morphy’s Dec. 13 Regency Auction debut at the PCGS Members Only Coin Show in Las Vegas drew an enthusiastic crowd, very competitive Internet bidding and a final total of $1.54 million, inclusive of 15% buyer’s premium.
From the outset, Legend-Morphy’s goal had been to present a smaller but more-select offering of primarily PCGS-graded US coins. The strategy was embraced by collectors, who bid aggressively on the many rare coins, some having prestigious provenance.
The top lot of the 323-lot auction was a 1913 PCGS PR66 CAC $20 matte proof gold coin from the Far East Eagle Collection. Described in the catalog as “intensely original, one of 58 minted, and one of three PCGS graded,” it exceeded its hefty presale estimate to realize $109,250.
An extremely high-end coin, an 1807 $2.5 PCGS MS63 CAC displayed absolutely original surfaces and beautiful original colors of deep yellow-gold with some orange-gold around the details. A sharply struck Miss Liberty provided the eye appeal that pushed bidding to an above-estimate $74,750. Another gem featuring Lady Liberty in profile was the $1 1894 PCGS MS65 CAC OGH coin in super-clean condition that netted $39,675.
With both sides “semi-prooflike and dripping with luster,” a 25-cent 1821 PCGS MS65 OGH reflected quite an improvement in value over the last publicly auctioned coin of its type, which earned $19,550. The example in Legend-Morphy’s Las Vegas sale garnered a winning bid of $28,750.
A rare and desirable $10 1871-CC PCGS AU58 coin boasted provenance from the fabled Simpson Collection and the David Hall Collection prior to that. It was the only AU58 graded by PCGS in 25+ years, and its auction catalog notation stated: “Even in AU55, NONE have appeared in a major auction in the last 5+ years.” At the Legend-Morphy Regency Auction, it surpassed its high estimate to sell for $28,900.
A totally matched, original 1894 PCGS PR64-65 set had “wow” factor to spare. “Even someone who didn’t know coins could take one look at this set and know it’s a killer. Hopefully the new owner will keep it all intact, because the quality of each coin is amazing,” said Legend-Morphy co-owner Laura Sperber. Topping its estimate range, the set drew eight bids and settle above estimate at $27,600.
Sperber described interest in Legend-Morphy’s first Regency Auction as “very strong…The preview was packed from the minute we opened it, and Internet activity was beyond our expectations, both before and during the sale.”
Sperber’s business partner Dan Morphy added, “I couldn’t have been more pleased with the turnout. The PCGS Members Only Show brought us many quality bidders. Many told us they’re already looking forward to our next sale, which will be held in late February at the Venetian in Las Vegas, during the PCGS Members Only.”
For information about consigning to Legend-Morphy’s February auction, call Julie Abrams at 717-335-3435 or e-mail [email protected] Visit the company online at www.legendmorphy.com.
More Items Sold:
Lot 70 – 25-cent 1821 PCGS MS65 OGH, $28,750. Legend-Morphy Auctions image.
Lot 205 – $1 1894 PCGS MS65 CAC OGH coin in super-clean condition $39,675. Legend Morphy Auctions image.
Lot 226 – Matched, original 1894 PCGS PR64-65 set, $27,600. Legend-Morphy Auctions image.
Lot 233 – 1807 $2.5 PCGS MS63 CAC with original surfaces, beautiful coloration and sharply struck Miss Liberty, $74,750. Legend-Morphy Auctions image.
Lot 267 – $10 1871-CC PCGS AU58 with provenance from Simpson Collection, David Hall Collection, $28,900. Legend-Morphy Auctions image.
Lot 294 – Top lot of the sale: 1913 PCGS PR66 CAC $20 matte proof gold coin from the Far East Eagle Collection, one of 58 minted and one of three PCGS graded, $109,250. Legend-Morphy Auctions image.
The show was unbelievable! Total class! One of the best of 2012. Great selection of unique coins, Great prices and the services for PCGS members was impressive.
Agree with Devans. Show was pretty great, but I had no idea how much some of those coins were worth. 1.5 million? Yikes!