By CoinWeek …..
Handpicked high-eye-appeal U.S. coins are the hallmark of Legend Rare Coin Auctions (LRCA) and on Thursday, May, 18, 2017 at Harrah’s in New Orleans, the New Jersey-based firm will offer 521 PCGS- and NGC-certified coins at their Regency XXI Sale. Many are either conditionally rare or rare in an absolute sense, and the vast majority are CAC-certified. Here are the lots and groupings that you need to know about.
The Simpson Collection of Standard Silver Patterns, Part II
Legend Rare Coin Auctions offered Part I of mega-collector Bob R. Simpson’s collection of Standard Silver Patterns. No collector has ever acquired a complete set – there are several unique pieces, and a quite few more that are exceedingly rare. Simpson came closer than any before, and his set is a testament not only that effort, but also to the additional mandate to pick the best possible specimens.
Lots 1-80 offer a cavalcade of attractive Standard Silver Pattern dimes, quarters, and half dollars. While we expect many of these pieces to exceed their pre-sale estimates, the fact is, this segment of the pattern series is quite affordable, with many pieces in the $1,000 to $2,500 range.
Our favorites? Lot 18, Lot 31, Lot 42, Lot 47, and Lot 48.
Lot 81: 1853 J-154 PCGS PR64+ RB CAC
Simpson upgraded his J-154 to PR65 and no longer has a need for this attractively toned copper pattern striking of an 1853 dollar. Both are plate coins at PCGS Coinfacts, so you can see for yourself just how narrow the difference in quality is between the two pieces. This particular specimen traces its pedigree back to another famous collection, the Louis Eliasberg, Sr. collection. Stack’s Bowers sold the coin in a PR64 OGH CAC for $19,975 USD in Winter 2014.
- Pre-Sale Estimate: $20,000+
Lot 85: 1870 Set of William Barber Seated Liberty Patterns Struck in Copper
A complete matched set of William Barber Seated Liberty Patterns comes with a copper striking of the trime, half dime, dime, quarter, half dollar, and dollar. One of only a handful of possible complete sets in grade, judging by the NGC and PCGS populations reported.
- Pre-Sale Estimate: $45,000+
Large & Small Cents
Lot 95: 1793 Wreath Cent. Lettered Edge. PCGS MS64 BN CAC
Collector James Root once paid a handsome sum of $67.50 for this coin at auction. That was 146 years ago. Today, this coin is expected to bring more than a quarter million dollars. Actually, with one $260,000 bid already registered according to LRCA’s auction website, it will be interesting to see if this coin makes any appreciable movement on the $276,000 it brought in 2008 when Heritage Auctions offered it.
Tied for the finest-known of the Single Leaf (S-11c) Lettered Edge variety and graded MS64BN by PCGS and MS60 according to Early American Copper (EAC) grading standards applied by Del Bland and Bill Noyes.
Lot 127: 1912 Lincoln Cent. PCGS PR67 BN
Early Lincoln Cent Proofs are criminally underrated. The BN designation applied by PCGS is a misnomer; this coin is awash in Aegean blue toning. The finest-graded 1912 Lincoln Proof at PCGS of any designation. Based solely on eye appeal, this piece rivals or bests any RB or RD examples currently plated on PCGS.com. Bidders are advised to view the TrueView of this example before bidding. Be sure not to tell your competitors about the image, it will only drive the price up!
- Pre-Sale Estimate: $8,500 (but $10,000 to $12,000 is not out of the question).
Lot 203: 1868 Seated Liberty Quarter. PCGS MS66+ CAC
In 1868 quarters were struck at two mint facilities, 29,400 at the Mother Mint in Philadelphia and 96,000 at the State of the Art San Francisco branch. The Philly mintage seems low–and it is, by modern standards–but it’s typical for the period.
In Proof, the issue had a 600-piece mintage. By the “numbers”, one would expect the Proof to be rarest of the three, but this isn’t so. Collectors of the period were satisfied with the inclusion of a Proof example of the latest U.S. Mint (modern) coin issues of the time and did not begin to collect issues by mintmark until the early 20th century. As a result both the S-Mint and P-Mint issues are scarce in Mint State and bring $20,000 or more in gem grades. The example being offered by LRCA is the PCGS CoinFacts plate coin for the date and is the single finest coin at MS66+. Beautiful rainbow toning adds to the appeal.
- Pre-Sale Estimate: $44,000+
The Linda Collection of Mint State Trade Dollars
Legend Numismatics’ reputation with the U.S. Trade dollar is well-documented. The Linda Collection of Mint State Trade Dollars was assembled over many years by Legend in a nod to the fantastic set belonging to Bruce Morelan. This eighteen coin run of choice to gem PQ Trade dollars was put together with eye appeal in mind, something that is desperately lacking with most of the surviving specimens of the series.
The Linda 1877-S is a fully lustrous PCGS MS65+. The 1876-S in PCGS MS64 has been besmirched by PCGS as it has gem surfaces and pleasing peripheral green toning. The 1875 boasts an even greater degree of eye appeal, being bathed in swirling hues of lavender and blue. Extraordinary!
- Also consider: 1873-CC PCGS MS63 (Lot 316), 1875-S PCGS MS63 – perfect for Type collectors and a bargain even if bidding hits $1,000 to $1,200.
Lot 335-358: The Northern Lights Toned Morgan Dollars Collection, Part IV
Hand-picked for their vivid toning and spectacular eye appeal, the coins of the Northern Lights Collection rank as some of the finest-certified monster toners in the popular Morgan dollar series. Featured in the past three Regency sales, the Northern Lights Morgan dollars have exceeded all expectations as each piece shattered pre-sale estimates and beat the “market” with record prices. Coming off the heels of the David Hall Toned Morgan Dollar Collection, it is clear that Legend has positioned itself as a strong venue for toned material.
- Highlights from Part IV: 1879 PCGS MS67+ CAC (Lot 338), 1881-S PCGS MS66 CAC (Lot 343), 1882-S PCGS MS67+ CAC (Lot 348)
Lot 490: Saint Gaudens Indian $10 Motto, Matte Proof. PCGS PR67 CAC
Matte Proofs were hated by collectors upon their release and the declining interest in Proof issues in the early 20th century reflect that opinion. When one sees a high-end example of a matte Proof in person, you can’t help but question why. Matte Proofs are distinctive and beautiful, especially when designs as elegant as Saint-Gaudens’ $10 Indian are concerned.
On offer is the PCGS CoinFacts plate coin for the issue, one of three graded PF67 by the service. The total mintage of the issue is a paltry 116 pieces, so as potentially the finest known, it will be interesting to see where the price for this specimen ends up. With 10 bids, the coin currently sits at $115,000. A number beyond the pre-sale estimate of $125,000 seems within reach. In 2016, a CAC-approved PCGS PR66 example brought $79,312 at a Stack’s Bowers auction.
[In the print version of the Regency XXI catalog, this lot is incorrectly identified as Lot 290. Online, the lot number is listed correctly. —CoinWeek]
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Legend Rare Coin Auctions (LRCA), founded in 2012 by Laura Sperber is a boutique auction firm that handles the finest in U.S. rare coins. Every coin offered is vetted by two world-class numismatists. As the official auctioneer of the PCGS Members Show, Regency Auctions are conducted four or five times a year and are limited to roughly 500 lots. A Premier Session Internet Only Auction is held monthly, featuring 150-200 hand selected lots. For more information, or to consign, contact Greg Cohen or Julie Abrams.
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