HomeAuctionsLegend-Morphy auction premiere scores big with $143K price on $20 gold coin

Legend-Morphy auction premiere scores big with $143K price on $20 gold coin

A 1911 $20 PCGS proof 66+ CAC – one of only 100 coins of its type ever minted – topped Legend-Morphy’s Oct. 10 premiere auction event with an above-estimate price of $143,750. An especially fine example, the coin offered by Legend-Morphy is the only 1911 $20 gold piece ever to be graded proof 66+ by either PCGS or NGC. With that distinction, it was entered in the sale with confident expectations of realizing $100,000-$110,000. Collectors felt it was worth every penny of that and more, adding another 30% to the high estimate by the time bidding had concluded.

“I knew that many coins would bring strong prices, but the sale far surpassed my expectations,” said Laura Sperber, noted coin expert and partner in the new Legend-Morphy venture. The 220-lot auction had a sell-through rate exceeding 80 percent.

Other coins that Sperber described as having achieved “super-strong” prices included a 1783 threepence Chalmers PCGS AU53+ CAC, which made $37,375; an 1863 proof set PCGS PR64-PR66, which sold for $32,200; and an 1862 $3 PCGS PR63 CAC, which took in $23,000. All prices quoted are inclusive of 15% buyer’s premium.

Aside from coins, another collecting category that sparked bidder interest was gold nuggets. Several fine examples were auctioned, including a Peruvian nugget that sold to a US private collector for $86,250. The specimen weighed 49.8 troy ounces and came with 35-year provenance from a Texas numismatic company

Another gold nugget sold to a bidder in China for $29,900.

“It had a unique look – it was shaped like a dragon,” said company partner Dan Morphy in describing the natural treasure. “All of the nuggets in the sale did well. Internet bidders seemed to go after them more than any other category. They were very competitive.”

Consignors seemed just as pleased as the buyers. Two sisters who had consigned the abovementioned Chalmers threepence – a privately minted coin made from Spanish silver coins seven years after the Declaration of Independence was signed – were present in the gallery to witness its sale.

“They were beside themselves with the result,” said Morphy. “They even brought along some other early coins to consign with us. We’ll be offering them in future auctions.”

Morphy said gallery attendance was sparse, but there was a good reason for that.

“I’d say 95 percent of the bids were left with us prior to the auction,” Morphy said. “There was a lot of excitement because the coins were fresh to the market. Those who had an interest didn’t wait to place their bids.”

Julie Abrams, president of Legend-Morphy, remarked: “This was a boutique sale of very choice coins. To generate so much interest with our first auction and to achieve such a high sell-through rate was very exciting for all of us at Legend-Morphy. This sale introduced our name to the hobby.’

Abrams said that there are already more than 200 coins and other numismatic items consigned to Legend-Morphy’s Dec. 13 sale in Las Vegas, with a total estimated value of over $2 million. Additional consignments are currently being accepted for this PCGS-authorized auction, which will be held during the PCGS Members Only show.

For consignment information or for any other queries, contact Legend-Morphy Rare Coin Auctions by calling 717-335-3435 or e-mailing [email protected]. Visit the company online at www.legendmorphy.com.

Legend Rare Coin Auctions
Legend Rare Coin Auctions
Founded in 2012 by Laura Sperber, Owner and President of Legend Numismatics, Legend Rare Coin Auctions (LRCA) was a boutique numismatic auction company specializing in the finest and rarest U.S. coins. LRCA’s staff of numismatic auction industry veterans included Julie Abrams, President; Greg Cohen, Senior Numismatist; and Jessica Berkman, Consignment Coordinator. The firm’s Regency Auctions served as the official auction for the PCGS Members’ Shows, held six times per year. LRCA sold many important collections for world-record prices, including the Coronet Collection of Morgan Dollars (#1 all-time PCGS set); the David Hall—Bob Simpson Collection of Liberty Head Eagles; the Sunnywood-Simpson Collection of Morgan Dollars; the Phil Flannagan Collection of Territorial Gold, Toned Dollars and 1795 coins; duplicates from the Gerald Forsythe Collections of Buffalo Nickels and Mercury Dimes; the Bob Simpson Collection of Standard Silver Patterns; the Northern Lights Collection of Monster Toned Morgan Dollars; the Crow River Collections of Indian Head $10s and Peace Dollars; the P.F.M Collection (former #6 PCGS Set of Morgan Dollars with varieties); the Oak Crest Collection of Carson City $5 gold; and the Konstantine Collection of Capped Bust Half Dollars, the #1 PCGS Set of Red Book varieties, 1807-1836. The firm recorded the second-highest APR in 2016 with the sale of Bob Simpson’s duplicate 1879 $20 “Quintuple Stella”, which realized $1,880,000.

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