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POGUE IV AUCTION SELLS 61 COINS, SURPASSES $16 MILLION, 1795 $1 and Proof 1833 $5 Both Sell For Over $1 Million

- June 1, 2016

(NEW YORK -- May 25) Part IV of the D. Brent Pogue Collection, offered by Stack's Bowers Galleries and Sotheby's at Sotheby's New York galleries, realized a total of $16,749,038 for 61 lots, with an average lot value of more than $274,000 per coin.  The Farouk-Pittman 1833 Proof half eagle led all coins sold at $1,351,250.  A famed 1795 Draped Bust silver dollar, last sold in the 1980 Garrett Collection sale, also surpassed the million-dollar mark, realizing $1,057,500.

Brian Kendrella, president, stated: "The room was electric with anticipation as the first lots crossed the block.  By the time the last lot hammered, collectors around the globe were thrilled with the superb specimens that would now be landmark pieces in their holdings."

Statistician for the coin hobby, P. Scott Rubin reported, "At $85,318,218.50 the Pogue Collection is now far and above any other collection ever sold at auction in total proceeds and there is still more to go!  The 61 coins that sold brought over the high estimate value for those, setting numerous records along the way.  Eleven coins pedigreed to the D. Brent Pogue Collection Part IV will now be included in the Top 250 Auction records."

"Our sale of the D. Brent Pogue Collection, which is still ongoing, has broken world records left and right.  Nothing like it has ever happened before!  Considering the rarity and the quality of the coins offered, it will never happen again.  As I said before, those participating have had a rendezvous with destiny!" remarked Stack's Bowers founder Q. David Bowers.

A world record sum of $10,575,000 was bid from the phone for the finest known 1804 dollar, the highest price ever offered for any coin, but it did not surpass the consignor's reserve price.  The previous world record of $10,016,875 was bid in the Stack's Bowers Galleries January 2013 sale of the finest known 1794 dollar.

The only collectible specimen of the extremely rare 1822 half eagle, or $5 gold piece, received a phone bid of $7,285,000, a bid surpassed among gold coins by only the 1933 double eagle $20 gold piece that brought $7,590,000 in 2002.  The 1822 half eagle was retained by the consignor after it did not meet their reserve price.  Only two other examples of this rarity exist, both in the Smithsonian Institution.

Eight additional coins sold for more than a half million dollars, led by the finer of two known 1825/4 half eagles which brought $940,000.  Three other half eagles realized $822,500 each: the 1829 Small Planchet $5, the 1832 12 Stars $5, and the 1835 Proof $5.  A superb 1795 Draped Bust dollar brought $763,750.  The same sum, $763,750, purchased the 1829 Large Planchet half eagle.  The first half dollar of the New Orleans Mint, the extremely rare 1838-O, brought $493,500.  The finest known 1838-C half eagle, struck in the first year of production at the Charlotte (NC) Mint, realized $235,000 against a $60,000-$90,000 estimate.  The prices realized for the night totaled $16,749,038.

As the details for future sales become available they will be posted on our website along with the results of this sale.  Please visit http://www.stacksbowers.com/.

About Stack's Bowers Galleries

Stack's Bowers Galleries conducts live, Internet and specialized auctions of rare U.S. and world coins and currency and ancient coins, as well as direct sales through retail and wholesale channels.  The company's 80-year legacy includes the cataloging and sale of many of the most valuable United States coin and currency collections to ever cross an auction block -The D. Brent Pogue Collection, The John J. Ford, Jr. Collection, The Louis E. Eliasberg, Sr. Collection, The Harry W. Bass, Jr. Collection, The Norweb Collection, The Cardinal Collection and The Battle Born Collection - to name just a few.  World coin and currency collections include The Louis E. Eliasberg, Sr. Collection of World Gold Coins, The Kroisos Collection, The Alicia and Sidney Belzberg Collection, The Wa She Wong Collection, The Guia Collection, The Thos. H. Law Collection, and The Robert O. Ebert Collection.

Topping off this amazing numismatic history is the inclusion of the world record for the highest price ever realized at auction for a rare coin, the 1794 Flowing Hair Silver Dollar graded Specimen-66 (PCGS) that realized over $10 million, part of their sale of the famed Cardinal Collection.  The company is headquartered in Santa Ana, California, with offices in New York, Wolfeboro, Hong Kong, and Paris.  Stack's Bowers Galleries is an Official Auctioneer for several important numismatic conventions, including American Numismatic Association events, the New York International Numismatic Convention, the Professional Numismatists Guild New York Invitational, the Whitman Coin & Collectibles Spring, Summer and Winter Expos, and its April, August and December Hong Kong Auctions.




Article provided by PCGS at www.pcgs.com

 
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