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Spectacular Results Show Renewed Strength in the Market at Legend’s 28th Regency Auction


Two-Session Auction Brings Record Prices in Bust Halves and High End 20th Century Coins.

(Lincroft, NJ)— Legend Rare Coin Auctions is proud to announce the very strong results of 28th Regency Auction.  After 28 Regency Auctions, held as the official auctioneer of the PCGS Members Only Show, Legend has more than proven that their boutique style auctions bring out the most serious buyers and coins consigned bring in prices that exceed similar coins at other auction companies.  Featuring 665 hand selected, high quality rare coins, this was the second auction in the firm's history that required two sessions to present the wide variety of important, historic, and rare coins.  Like the firm's May Regency Auction, the first day's auction focused on a single denomination, this time being half dollars.  The second day of the Regency Auction featured half cents through patterns.

Half dollar day, as it was dubbed, proved that half dollars, "could bring big dollars," as Laura Sperber put it.  The surprise of the session was when lot 172, a monster toned 1958 Franklin half, arguably one of the finest examples of the entire series rocketed out of the stratosphere with a final bid at $129,500, setting a world record for any Franklin half dollar!  However, the session was anchored by two important collections, of very popular series.  Starting off the Session was the famous Konstantine Collection, the #1 PCGS Registry set of Capped Bust Half Dollars, 1807-1836, featuring the major "Red Book" varieties.  This was the first time that we could ascertain that such a set of the 73 major varieties were sold in a single auction, and the results proved to be very strong, thrilling the consignor and all the successful bidders alike, as they were able to acquire some once in a generation coins.  Coins like lot 1, the beautiful, Bearded Goddess, which was previously in the Norweb Collection, now graded PCGS AU53 CAC and is among the three finest known kicked off the fireworks when several Bust Half Nuts bid it to $58,750 from an opening bid of $33,000.  (Note: all prices realized include the firms 17.5% Buyer’s Premium).

1807 Bearded Goddess, O-111B   1807 O-114   1815/2 O-101A
Lot 1 1807 Bearded Goddess, O-111B. PCGS AU53 CAC realized $58,750
 
Lot 4 1807 O-114. PCGS MS65 CAC, ex Green-Newman realized $188,000
 
Lot 22 1815/2 O-101A. PCGS MS63 realized $55,813

"From the moment the Konstantine Collection was announced back in July, every major collector of Bust halves has been waiting for this auction," said Julie Abrams, President of Legend Auctions.  "We took out all the stops in the marketing efforts, including hosting a small gathering of collectors during the ANA show in Philadelphia, where every coin was on display.  The event was very well attended by the 'who's who' among serious collectors.  These efforts proved to get the strong action going, with a standing room only crowd who came out to the auction to bid in person.  This record attendance was led to the impressive list of prices realized below."

Highlighted results of the Konstantine Collection include:

  • Lot 1 1807 Bearded Goddess, O-111B. PCGS AU53 CAC realized $58,750
  • Lot 4 1807 O-114. PCGS MS65 CAC, ex Green-Newman realized $188,000
  • Lot 14 1812/1 Large 8, O-101. PCGS AU50 realized $31,725
  • Lot 22 1815/2 O-101A. PCGS MS63 realized $55,813
  • Lot 41 1823 Broken 3. O-101. PCGS MS64 CAC Ex Green/Newman realized $38,775
  • Lot 51 1827/6 O-102. PCGS MS66 CAC Ex Pogue realized $36,425

"In all, when the hammer fell on lot 73, over $1.3 million dollars were spent on Capped Bust half dollars," explained Laura Sperber, founder of LRCA.  She noted, "for nearly two months, the entire market has been buzzing with excitement for these coins, so going into the session, I knew the Konstantine Collection was going to bring very strong to beyond strong money.  My expectations were quickly blown away!"

Following the Konstatine Collection was a great offering of Early, Seated, and Barber half dollars.  The selection included the following important highlights that found their way into important collections such great type coins like: Lot 93 1830 Large 0. PCGS MS66 realizing $24,675 and Lot 95 1836 Reeded Edge. PCGS MS64 CAC realized $79,313.

The Sommelier Collection of Early Date Walking Liberty Half Dollars was the second anchor collection, and when the hammer gaveled the last lot, the 25 coins realized over $400,000!  Julie Abrams was sitting in the back of the room when the collector "looked back at me at one point and just smiled and gave a huge 'thumbs up.'"  Clearly, they should be happy, just take a look at these amazing results:

  • Lot 110 1917-D Obverse. PCGS MS65+ CAC realized $21,150
  • Lot 115 1918-D PCGS MS65 CAC realized $27,025
  • Lot 121 1920-D PCGS MS65 CAC realized $27,025
  • Lot 125 1921-S PCGS MS65 CAC realized $117,500
  • Lot 128 1928-S PCGS MS65 CAC realized $15,863

The session ended with additional Walking Liberty, Franklin and Classic Commemorative Half Dollars from various consignors.  Franklin Half Dollars have really become a very popular series recently.  Whether the market for them is maturing and realizing enough time has passed that they can now be considered a classic series in the annals of American Numismatics.  Either way, there are many serious collectors vying for the very finest.  Two such coins were offered in the Half Dollar Day auction session, far surpassing any previous records, and bringing prices that are just way beyond "moon money"!  The first was the aforementioned record shattering realization of $129,500 for the magnificent and wildly toned 1958 and the finest 1949-S half dollar, also graded PCGS MS67+ FBL CAC realized $31,725.

Other highlights:

  • Lot 142 1920 PCGS MS66+ CAC realized $31,725
  • Lot 146 1929-D PCGS MS67+ CAC realized $82,250
  • Lot 150 1938-D PCGS MS67+ CAC realized $41,125
  • Lot 156 1943 PCGS MS68 CAC realized $35,250
  • Lot 161 1947-D PCGS MS67+ realized $34,075
  • Lot 188 1935 Hudson. PCGS MS67+ CAC realized $22,913

The second session of the 28th Regency Auction took place on Thursday evening, September 27.  You could sense how active bidding was going to be the moment the sale opened, as many collectors added great coins to their collections.  Twentieth century coins, had great results overall.  The Hallett Collection of Mercury Dimes, the current #5 and all time #9 Registry set brought impressive prices.  "It is not often that a top ten Registry Set comes up for auction, and the prices prove that when a great collection comes up, the buyers run out to buy the coins.  In many cases our estimates proved way too low," Julie Abrams said.  The surprise of the collection was lot 367, the PCGS MS67+ FB CAC 1925 dime that realized $25,850 on an estimate of $3,500 to $4,000.  Other Mercury dimes consigned alongside the Hallett coins fared extremely well, with beyond moon money realized for multiple coins including.  Overall the prices were indicative of the overall market, with great coins selling for great prices.

Highlights of the second day’s session include:

  • Lot 214 1C 1839 Silly Head, N-4. PCGS MS66 BN CAC realized $14,100
  • Lot 225 1C 1877 PCGS PR66 RD CAM realized $29,375
  • Lot 238 1C 1911-D PCGS MS67 RD realized $61,688
  • Lot 291 5C 1926 PCGS MS67+ CAC realized $16,450
  • Lot 312 H10C 1849 PCGS PR66 CAC realized $52,875
  • Lot 322 10C 1845-O PCGS MS63 CAC realized $58,750
  • Lot 340 10C 1911 PCGS PR68 CAM CAC realized $36,425
  • Lot 413 10C 1942/1-D PCGS MS65 FB CAC realized $28,200
  • Lot 421 10C 1945 PCGS MS65 FB realized $15,275
  • Lot 430 10C 1923 PCGS MS68 FB CAC realized $18,800
  • Lot 431 10C 1923-S PCGS MS66 realized $105,750
  • Lot 438 10C 1968 No S. PCGS PR68 CAM realized $39,950
  • Lot 497 $1 1885-O PCGS MS67 CAC realized $11,456
  • Lot 529 $1 1892 PCGS MS66 realized $49,938
  • Lot 538 $1 1903-S PCGS MS66+ CAC realized $25,850
  • Lot 545 $1 1900 PCGS PR67 DCAM CAC realized $52,875
  • Lot 570 $2.50 1866 PCGS PR65 DCAM CAC realized $79,313
  • Lot 572 $2.50 1890 PCGS PR66 DCAM CAC realized $37,600
  • Lot 584 $3 1881 PCGS PR66 CAM CAC realized $73,438
  • Lot 609 $10 1912-S PCGS MS65 realized $36,425
  • Lot 621 $20 1870-S PCGS MS63 CAC realized $76,375
  • Lot 633 $20 1907 High Relief, Wire Rim. PCGS MS64 CAC realized $34,075
  • Lot 646 $20 1915 PCGS MS65+ CAC realized $55,813
  • Lot 658 $1875 J-1426. PCGS PR65 CAC realized $70,500

Laura Sperber noted after the last lot sold on Thursday evening, "The market is continuing to show renewed strength, as new, well-healed collectors are building epic collections.  Whether they are working on one set, or many different projects, if they see a coin they need, they just go after it.

"The market for high quality rare coins is healthy, robust, and we are seeing lots of new names and faces.  The public turnout at the PCGS Members show was very large, larger than normally seen.  We know with so few opportunities going into the last months of 2018, there will be only a few more opportunities to buy great coins.  Legend's 29th Regency Auction, being held on November 15 in San Antonio will be one of the last, and we have lots of great coins consigned to that sale," noted Julie Abrams.  "Consignments are now closed, but we are always taking consignments for upcoming auctions, so give us a call.  Our boutique auction venue gets the best prices for the best coins!"




Article provided by PCGS at www.pcgs.com

 
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