Wednesday, September 25, 2013

1880 Coiled Hair gold coin sells for $2.5mil

A $4 dollars 1880 Coiled Hair Stella sells for $2.5million US Dollars in the September 23 Coins and Medals auction by Bonhams. The rare 1880 $4 Coiled Hair gold coin sold for $2,574,000, more than doubling the presale estimate between $1,000,000-1,500,000.


Paul Song, Director of the rare Coins and Medals Department at Bonhams, said of the sale: "I am stunned and delighted. Having been entrusted with the opportunity to sell the Tacasyl Collection is personally one of the highlights of my career, and the more I got to work with the collection I realized just how special each and every coin in the collection was. The fact that probably more than 75% of the sale was bought directly by collectors is testament to the phenomenal nature of the collection. The sale proved beyond a shadow of a doubt that superb quality and great rarity are a magical mix."

The Tacasyl Collection of Magnificent United States Proof Gold Coins collection of 27 lots represented a virtually complete collection of every major gold design type issued in proof in the US between 1836 and 1915 and realized $10,778,040 with every lot sold. The astounding $399,186 lot average represents a world record for a rare coin collection on a per lot basis (nearly doubling the previous record).

The 1879 Coiled Hair Stella nearly doubled the previous high for the design and date while realizing a phenomenal $1,041,300. And the 1880 Flowing Hair Stella also doubled the previous record for the type selling for $959,400. The four coin set sold for an aggregate price of an amazing $4,855,500.

Other highlights included the 1891 Proof Double Eagle (NGC Proof 68* Ultra Cameo), which set a new world record as the most valuable Liberty Head Proof Double Eagle ever sold at auction at $655,200. In addition, the Saint-Gaudens high relief double eagle is one of the most coveted coins in the entire US series. The Tacasyl example (NGC Proof 69) one of the very finest in existence set a new world record for a proof high relief (beating its own record set in 2005) at $573,300.

Finally the sale closed with the Double Eagles. The Type one Liberty Double Eagle, 1863 (NGC Proof 65 Cameo) brought $345,150 and set an auction record for the date. The last two lots of the sale the Saint Gaudens design double eagles both easily exceeded their pre-sale high estimates, the 1909 (NGC Proof 68) brought $184,860, and the 1911 (NGC Proof 68) brought $157,950.