Coin News: Heritage Chosen to Auction Newly Discovered 1854-S Half Eagle

Heritage Auctions' Coin Newsletter [Read this newsletter online]( [Heritage Auctions]( [Coin News]( In This Issue: • [Heritage Chosen to Auction Newly Discovered 1854-S Half Eagle](#collector-a) • [Seldom Seen Selections: Gem Chapman Proof 1921 Morgan Dollar](#collector-b) • [Heritage Adds Comprehensive Ancient Coins Data to HA.com](#collector-c) • [This Week's Top Ten](#top10) • [Around Heritage Auctions](#around-1) • [Is It Time To Sell?](#sell) • [Current Auctions](#current) July 10, 2018 []Heritage Chosen to Auction Newly Discovered 1854-S Half Eagle [2018 August 14 - 20 ANA WFOM US Coins Signature Auction - Philadelphia #1278]( Photo Courtesy of NGC A previously unknown 1854-S Liberty Head Half Eagle — considered among the rarest of all U.S. coins — will be offered by Heritage Auctions after the firm was selected to bring the specimen to auction. Initially believed to be counterfeit, the gold coin is just the fourth specimen known to exist and will be the first to appear at auction since the 1982 sale of the Louis Eliasberg Collection. "This discovery rewrites numismatic history," said Jim Halperin, Co-Founder of Heritage Auctions. "We are delighted to have been selected to auction this major find." A New England man discovered the coin and sought the opinion of collectors and dealers who claimed it must assuredly be fake because of the coin's legendary rarity. Records indicate the San Francisco Mint struck just 268 Half Eagles in 1854, an extraordinarily low mintage for a U.S. gold coin produced during the California Gold Rush. Of the three other known surviving examples, one is in the National Numismatic Collection at the Smithsonian Institution in Washington, D.C., and another remains in a private Texas collection. No one has seen the third coin since armed robbers stole it from the wealthy duPont family in 1967. Seeking a final answer, the discoverer submitted his coin to the Numismatic Guaranty Corporation for authentication. After verifying the coin was not the stolen duPont specimen, NGC enlisted the help of the Smithsonian Institution, which provided photographs of its coin. The firm determined coin was authentic and graded the discovery as NGC XF 45, adding the phrase "Discovery of a Lifetime" to the coin's certification label. "It's like finding an original Picasso at a garage sale," NGC Chairman Mark Salzberg said in a statement. "It's the discovery of a lifetime." Heritage Auctions will present the previously unknown 1854-S Liberty Head Half Eagle in its [August 16 Platinum Night Auction]( during the American Numismatic Association's World's Fair of Money in Philadelphia. [Back to Top](#top) []Seldom Seen Selections: Gem Chapman Proof 1921 Morgan Dollar [1921 $1 Chapman PR65 NGC]( [1921 $1 Chapman PR65 NGC]( Business strike 1921 Morgan dollars are common, but proofs are significant rarities. None were officially made for collector sale, but the grading services recognize two varieties: the Chapman proofs and the Zerbe proofs. Certified Zerbe proofs tend to be from VAM-1AG or VAM-47 dies, and do not show all characteristics of proof Morgan dollars of earlier dates in the series. The Chapman proofs are much less controversial, and have the appearance of proof Morgan dollars from the early 20th century. Relative to the 1921 Morgan dollars made for commerce, the wreath is unusually well-struck. The dentils are squared off, and the hair above the ear shows nearly full detail. The surfaces lack the bagmarks characteristic of even the highest-graded business strikes. The fields are nicely mirrored. Leroy Van Allen has not assigned a VAM number to the Chapman proofs, but die markers (as listed at [VAMworld.com]( include a diagonal line above the first T in STATES, and another die line between the wreath and the right-side star. Our [July 12-15 Summer FUN]( Auction features a [Chapman Proof 1921 dollar]( a brilliant and beautiful Gem certified by NGC. Both diagnostic die lines are clearly visible on this coin, No flaws are apparent, and the eye appeal is remarkable. Breen (1988) states that the Zerbe proofs were coined first. When Henry Chapman learned of their existence, he paid a visit to George Morgan, still employed at the Philadelphia Mint 43 years after his namesake design was first issued. Chapman, per Breen, compelled Morgan to strike 10 proofs, "thus creating one of the major rarities of this century with the Morgan dollars' final gasp." Q. David Bowers (1993) called the issue "exceedingly rare. Perhaps only 15 were struck." NGC has certified 23 coins as Chapman proofs, mostly as PR63 and PR64. PCGS has certified 42 pieces as Chapman proofs, generally in PR62 through PR64. Although the combined total of 65 pieces is multiples of the estimated mintage, it is likely that several examples have been submitted several times during the past 30-plus years of third-party grading. It is also possible that some of the coins certified as Chapman proofs are actually Zerbe proofs, a separately collected variety. Bowers (2016) wrote that "I have only seen a handful in 65 years that I would call mirrored Chapman proofs." There is no doubt about the Chapman proof status of this prominently mirrored specimen. [Back to Top](#top) []Heritage Adds Comprehensive Ancient Coins Data to HA.com Collectors of ancient coins now have more information at their fingertips with Heritage Auctions' new feature, which serves up comparable auction results and census statistics on coins auctioned through [HA.com](. The auctioneer's [World & Ancient Coins portal]( provides more information available in one convenient search. Below nearly every ancient coin graded by Numismatic Guaranty Corporation (NGC) in a Heritage Auction appears an Auction Comparable Results Grid and a Population Guide. While this information is second nature to many U.S. coin collectors and has been utilized for decades in that segment of the market, Heritage Auctions is the first numismatic firm in the world to present the graded population data and auction comparable results for ancient coins in any sort of systematic and relevant way. The Auction Comparable Results grid takes the results of similar coins from past auctions and presents the information in a clear and concise table. While auction lots still will contain an estimated price determined by Heritage experts, the results for similar coins at auction are infinitely more relevant. Potential bidders now easily can assess the raw data and make their own judgements as to what a particular coin is worth. Population information from NGC now appears below the Auction Comparables Results grid, as well in an easy-to-use dashboard. Highlighting the grade of the specific coin up for auction, potential bidders can see how many examples have been graded at that same level, as well as how many exist at other grades above and below it. "This feature educates buyers about the true market for specific ancient coins," Heritage Auctions Executive Vice President for World & Ancient Coins Cris Bierrenbach said. "The more information is available, the more comfortable and more confident people are when buying anything, regardless of the price. "The additional information this provides will help assure buyers that the value of what is bought reflects the coin's rarity and is in line with past results. Customers who feel comfortable that they got a fair deal are more likely to be repeat customers, and more likely to get real enjoyment out of whatever it is that they purchase." Similar information has been available for years for Heritage clients of U.S. Coins and, and as of last year, world coins. It has been harder to establish such metrics for ancient coins, because there are so many varieties. But the standardization of the market, established in part by the information available in this tool on [HA.com]( could increase the number of clients willing to buy ancient coins. "The hope is that Heritage's commitment to transparency and advances in technology, as evidenced by these latest features, will lower the barrier for entry into the exciting collectible field of ancient coins," Bierrenbach said. "The best customers are informed, educated customers, those who understand the value of something before they buy. This feature will allow more and more of our clients to make educated, informed decisions, thereby increasing confidence and satisfaction from each transaction." [Back to Top](#top) [] This Week's Top Ten [1895-O $1 PR66 Cameo NGC. VAM-3]( [1895-O $1 PR66 Cameo NGC. VAM-3]( The ten highest valued Proof Morgan dollars to sell in Heritage auctions, one per issue: - [1895-O $1 PR66 Cameo NGC. VAM-3]( Sold for: $528,750 - [1883-O $1 Branch Mint PR67 Cameo PCGS. CAC. VAM-11]( Sold for: $270,250 - [1895 $1 PR67 Deep Cameo PCGS Secure]( Sold for: $199,750 - [1893-CC $1 PR64 Cameo PCGS. CAC]( Sold for: $184,000 - [1884-CC $1 Branch Mint PR66 Cameo NGC]( Sold for: $184,000 - [1879-O $1 PR64BM PCGS]( Sold for: $176,250 - [1883-CC $1 PR65 Cameo NGC]( Sold for: $170,375 - [1896 $1 PR69 ⋆ Ultra Cameo NGC]( Sold for: $126,500 - [1899 $1 PR69 NGC]( Sold for: $126,500 - [1885 $1 PR69 ⋆ Cameo NGC]( Sold for: $100,625 Do you have a suggestion for a future top ten list? [Send it to us!](mailto:StewartH@HA.com?subject=Top Ten List Suggestion) [Back to Top](#top) []Around Heritage Auctions [15 Pondview Ln, East Hampton, NY]( 15 Pondview Lane East Hampton, New York ABSOLUTE AUCTION July 24, 2018 [HA.com/East Hampton]( NO RESERVE AUCTION. Embrace all that the Hamptons have to offer this summer. This picturesque East Hampton estate is walkable to the beach and village and feels worlds away from the hustle and bustle of Manhattan. A rare opportunity indeed, this home has never before been available for purchase. Featuring five bedrooms, two formal dining areas and three living areas, there's room for everyone. Enjoy the sunny eat-in kitchen, have morning coffee on the balcony overlooking the pool, entertain with grace all year long on the deck or heated screened patio. Thoughtful details include a bar, a private guest suite over the garage, and plenty of storage space. Built with flexibility in mind, the current sunroom/formal dining wing with oversized storage closet is plumbed and ready to be converted into a gracious downstairs master suite. Ideally situated on an acre near the heart of the village, you can walk to town or beach in minutes. Fetching $160,000 per month as a summer rental, this fine estate presents a fantastic opportunity in the Hamptons. Heritage is honored to present this home to be sold to the highest bidder, regardless of price, at our no reserve auction in July. Hurry! Pre-bids are welcome. Highlights include: - 5000 Square Foot House - 5 bedrooms/6 baths - 4 Fireplaces - Three living areas - Large formal dining, plus breakfast room and eat-in kitchen - Separate guest suite - Backyard living includes pool, deck, screened patio, balcony, expansive grounds - Walkable to village and beach - Previously rented for $160,000 per month To aid buyers in evaluating this property, a comprehensive Due Diligence Package (DDP) has been created. To request a DDP, please call 855-261-0573 or visit [HA.com/EastHampton](. Preview Schedule Friday, July 20 - Tuesday, July 23 | 1 PM - 4 PM Tuesday, July 24 | 11 AM - 1 PM Live Auction on Site Tuesday, July 24 | 2 PM [More information about Real Estate Auctions]( [Back to Top](#top) []Is It Time To Sell? An exciting consignment opportunity presents itself, as Heritage proudly presents auctions of US coins, World Coins, and Currency on September 5-11 in conjunction with the Long Beach Coin & Collectibles Expo. Heritage's Long Beach auctions have been fixtures, in conjunction with Long Beach coin shows, for literally decades. These auctions have a long-established record of attracting eager bidders and producing strong sale results for consignors, and we expect this pattern to continue. You can personally benefit from Heritage's connections to buyers from around the world and sell your coins alongside the millions of dollars of rare, desirable and important offerings that have already been consigned. The [consignment deadlines]( of July 16 (Currency) and July 23 (US Coins) will be here before you know it. Call our Consignment Hotline at 1-800-872-6467 x1000 today! [September 5-11 Long Beach Expo US Currency Signature Auction]( Consignment Deadline: July 16, 2018 [September 5-11 Long Beach Expo World Currency Signature Auction]( Consignment Deadline: July 16, 2018 [September 5-10 Long Beach Expo US Coins Signature Auction]( Consignment Deadline: July 23, 2018 [David Mayfield]( Vice President, Numismatic Auctions [David@HA.com]( 1-800-US-COINS ext. 1000 Interested in Selling? [What's My Coin Worth?]( [Consign to a Heritage Auction]( [Back to Top](#top) [] Current Auctions Coin and Currency Auctions [July 12 - 15 Summer FUN US Coins Signature Auction - Orlando #1277]( [July 12 - 15 Summer FUN US Coins Signature Auction - Orlando #1277]( [View Lots]( [July 29 Selections from the RMV Collection Monthly World and Ancient Coin Auction #271830]( [July 29 Selections from the RMV Collection Monthly World and Ancient Coin Auction #271830]( [View Lots]( [Weekly Internet US Coins]( [Weekly Internet US Coins July 10-11 Live session @ 6PM CT]( [View Lots]( [Tuesday Internet Currency Auction]( [Tuesday Currency July 10 Live session @ 7PM CT]( [View Lots]( [Weekly World Coin Auction]( [Thursday World Coin July 12 Live session @ 8PM CT]( [View Lots]( OTHER SIGNATURE AUCTIONS • [Summer Sports Card Catalog - July 19-20]( • [Entertainment & Music Memorabilia - July 21]( • [East Hampton Estate - July 24]( • [Online Photographs - July 25]( • [Online Prints & Multiples - July 26]( • [Movie Posters - July 28-29]( • [Comics & Comic Art - August 2-4]( • [Applegate Valley Estate - August 21]( OTHER INTERNET AUCTIONS • [Tues. 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