By CoinWeek …..
The American Numismatic Association’s (ANA) World’s Fair of Money remains one of the largest coin conventions in the calendar year. Stack’s Bowers, an Official Auctioneer of the ANA World’s Fair of Money, will conduct a seven-session sale over the course of eight days with sale highlights featured in the Session Four “Rarities Night” on Thursday, August 3 (starting at 6:30pm MT) in Room 303 at the Colorado Convention Center and simulcast online.
CoinWeek’s editors have studied the catalog and prepared a two-part Lots You Need to Know Auction Preview.
Part 1 discusses rare modern coins on offer during Rarities Night, while next week’s Part 2 will focus on five key classic lots from the sale, including the Lord St. Oswald 1794 dollar, the finest-known 1853-O No Arrows half dollar, and more…
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Lots 2031 & 2032: Modern Cent Bronze Planchet Errors – 1982-D Small Date–Struck on a Bronze Planchet & 1983-D Struck on a Bronze Planchet
The November 2016 discovery of the Small Date 1982-D Lincoln Memorial cent sent a Minnesota collector looking for answers.
He turned first to Dave Harper at Numismatic News, and then, at Harper’s direction, to variety expert Ken Potter.
Potter confirmed what the collector and Harper had already suspected: that the lightly circulated but nicked-up one-cent coin was worth many multiples of its face value and spot price.
The coin was pulled from a $50 bag of cents purchased so that the consigner could sort out copper alloy coins from the copper-plated zinc coins, or “Zincolns“, that replaced them starting midway though 1982. That the discovery was made at all defied the odds – like lightning striking the winning powerball ticket out of your hand.
Luckily for the consigner, the discovery of the coin did not lead to such pain, although it pains the pocketbook to consider what this heretofore only-known example cent type will bring when Stack’s Bowers offers it on their August 3 Rarities Night Session. Numismatic Guaranty Corporation (NGC) has graded the coin AU58BN and noted on the insert that this is the Discovery Coin.
- Current Bid: $1,100 USD
The second major Lincoln Memorial cent error immediately follows the ’82-D in year of production and lot number. Lot 2023 is a 1983-D cent struck on a bronze planchet in PCGS AU55. This mint error, likely unintentional as the coin was discovered in circulation, occurred when a copper alloy planchet – used throughout most of 1982 – found its way into production amongst the copper-plated zinc coins that had become the new standard for cent blanks.
To date unique, the 1983-D, like the ’82-D Small Date, will bring considerable attention and significant bids. Time will tell whether these two modern mint errors will be joined by additional pieces. That they remain peerless after more than 30 years of circulation speaks greatly of their rarity. Whether the opportunity to purchase these pieces comes again anytime soon is a matter left to chance. Just like finding a $50,000 Memorial cent in pocket change.
- Current Bid: $11,000 USD
Stack’s Bowers’ Vice President of Numismatics Vicken Yegparian shares his thoughts about these two important modern numismatic rarities in this CoinWeek Exclusive Expert Insight.
Lot 2111: 1950 Franklin Half Dollar. Proof-68 (NGC)
The last regularly circulating half dollar series issued in the United States, the Franklin half dollar has developed a reputation over the years as being one of the most popularly collected coin types of the 20th century. Designed by U.S. Mint Chief Engraver John R. Sinnock, it has a crisp and clean design; a welcome change from the overly ornate Walking Liberty type that came immediately before.
The Franklin half dollar has long captured collector interest, both for its Full Bell Line business strikes and for its Proof versions. But it’s the Proof version that really shines. Yet for the first two years of the Franklin half’s production life, no Proof versions were issued. The United States Mint had ceased Proof coin production in 1942, at the start of World War II.
In 1950, Proofs returned.
Now issued only as sets, the 1950 Franklin Proof was issued alongside the other circulation coins of the year: the Washington quarter, the Roosevelt dime, the Jefferson nickel, and the Lincoln cent.
When considered from a design perspective, the 1950 Proof emission represents the height of Modernism in the U.S. coin series. Every coin in the 1950 Proof Set, save Brenner’s Lincoln, which has always been an oddball, was introduced as a replacement for coin types issued during a Saint-Gaudens era noted for its decorative and Neoclassically inspired designs.
While the 1950 Proof distribution of 51,386 sets broke a sales record at the time of its release, demand for Proofs would exceed this total, sometimes by significant amounts, in subsequent years.
In terms of quality, the issue has not yielded many examples in superior grades.
A study of the condition censuses at both NGC and PCGS reveals that the majority of specimens considered worthy of certification fall between the grades of Proof-64 and -66.
The present example, certified at Proof-68, is one of just four certified at that level (two additional grading events are reported at PF68CAM and one is reported at PF69*).
When Heritage Auctions sold the previous NGC PF68 to appear at auction in 2008 for $10,350, the NGC population at this level stood at one with none finer. The slight increase in population is to be expected after nearly a decade of looking. It’s highly unlikely that this number will increase by much more in the coming years. That being said, demand for high-end Franklin Proofs is not diminishing and will continue to grow in the coming years.
Evidence of this can be seen in the $22,325 hammer price the sole PCGS PR68 brought in January of this year at the Heritage Auctions’ US Coins Signature Auction held at the Florida United Numismatists (FUN) Convention.
The present coin grades on par with that example and should entice spirited bidding from those who wish to assemble a sophisticated set of this iconic coin.
- From the High Rise Collection
Lot 2148: 2000-P Sacagawea Dollar, FS-902, Boldly Detailed Tail Feathers, “Cheerios” Variety, Mint State (Uncertified), in original Certificate of Authenticity packaging with accompanying 2000 “Cheerios” Lincoln Cent
Of the $53 million dollars that Director Philip Diehl’s United States Mint spent to market the new golden dollar, few of the dollars spent were more effective and long lasting as the $105,500+ that it spent to introduce the coin to millions of Americans through General Mills’ flagship serial brand Cheerios.
Finding a Sacagawea dollar in a box of Cheerios at the time of the promotion was like finding a needly in a haystack. Most cereal eaters never would find one as the odds of pulling the new golden dollar out of a box was one in 1,800. If you were incredibly fortunate, you might pull a voucher good for 100 Sacagawea dollars. These were inserted in one out of every 4,400 boxes.
For everybody else, there was the possibility of pulling a Y2K Lincoln cent – not as cool, but probably still somewhat cool as it was very likely the public’s first spotting of a coin dated 2000.
It would take six years before the Cheerios dollar would enter the annals of numismatic history as the modern rarity that it is.
While all were struck in late 1999, an indeterminate number featured finer detail on the eagle’s tail and wing feathers. The Mint in two separate statements claimed that all of the Cheerios coins were struck with pattern dies, but there have been verified instances of “Reverse of 2000” coins turning up in Cheerios packages.
Whether the U.S. Mint intended for the pattern reverse to be discovered by numismatists is unclear. Numismatic author Tom DeLorey is credited with discovering the variety. The discovery coin was certified by PCI. Later NGC and PCGS certified additional examples. The first “non-pattern” examples in Cheerios packaging turned up at the PCGS offices in 2008.
The Mint did send 12 specimens of the Reverse of 1999 prototypes into orbit on January 27, 2000, to commemorate Eileen Collins’ flight as the first female to command a U.S. spaceflight. Those coins would be significantly more valuable if legal to own. They were struck at the West Point Mint and bear the W mintmark. They are also composed of 22-karat gold. Current status? In storage at Fort Knox (although Diehl used to display them in his office).
As for the present lot, Stack’s Bowers is offering an uncertified Cheerios dollar in its original blister pack, accompanied with a 2000 Lincoln cent. The back of the card is unmarked. A light crease runs across the the card at the bottom.
Both coins are oriented obverse up, making it impossible to determine whether the the prototype reverse is present without destroying the original packaging. Based on certified population reports at NGC and PCGS, the odds are probably in the winning bidder’s favor. Considering the profit motive for removing Cheerios coins from the original packaging, it would be nice to see the two major grading services offer an archival quality holder for this as-issued “government” packaging.
Odds are that these already hard-to-come-by coins will become even more so in this state as the years go by.
- Current Bid: $650
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Stack’s Bowers’ The High Rise and Magnolia Collections and Other Important Properties: An Official Auction of the American Numismatic Association’s World’s Fair of Money
Session 1: U.S. Coins Part I – Lots 1-575
AUGUST 1, 2017 • 5 PM MT • COLORADO CONVENTION CENTER • ROOM 303
Session 1 – Numismatic Americana, Colonial Coins and Related, Half Cents through Quarters. The live auction session begins at 5:00PM MT on Tuesday, August 1.
Session 2: U.S. Currency – Lots 10001-10551
AUGUST 2, 2017 • 6:30 PM MT • COLORADO CONVENTION CENTER • ROOM 303
Session 2 – The live auction session begins at 6:30PM MT on Wednesday, August 2.
Session 3: U.S. Coins Par II – Lots 1001-1536
AUGUST 3, 2017 • 11:00 AM MT • COLORADO CONVENTION CENTER • ROOM 303
Session 3 – Half Dollars through Misc. U.S., Private and Territorial Gold, Hawaiian Coins and Related. The live auction session begins at 11:00AM MT on Thursday, August 3.
Session 4: Rarities Night – Lots 2001-2256
AUGUST 3, 2017 • 6:30 AM MT • COLORADO CONVENTION CENTER • ROOM 303
Session 4 – The live auction session begins at 6:30PM MT on Thursday, August 3.
Session 5: Internet Only – U.S. Coins Part I – Lots 3001-3754
AUGUST 7, 2017 • 9:00 AM MT
Session 5 – The live auction session begins at 9:00AM MT on Monday, August 7.
Session 6: Internet Only – U.S. Coins Part II – Lots 4001-4633
AUGUST 8, 2017 • 9:00 AM MT
Session 6 – The live auction session begins at 9:00AM MT on Tuesday, August 8.
Session 6: Internet Only – U.S. Currency – Lots 11001-11286
AUGUST 8, 2017 • 9:00 AM MT
Session 7 – The live auction session begins at 9:00AM MT on Tuesday, August 8.