Saturday, March 14, 2015

The Pogue Collection to sell for $220 million

One of the world's greatest private collection of coins, The D. Brent Pogue Collection of Early United States Coins are expected to sell for $220million in a record-breaking series of seven auctions at Sotheby's and Stack's Bowers Galleries.

Brent Pogue coin

Sotheby's and Stack's Bowers Galleries will start the first auction on 19 May this year and there will be another six auctions until May 2017. Most of the coins date from 1792 to the 1830s.

The collection is composed of over 650 gold, silver, and copper coins was collected for over 35 years by A. Mack Pogue and his son, D. Brent Pogue.

On Friday, Sotheby's present some of the Pogue Collection best coins at its saleroom in New Bond Street, London.

1804 dollar

The most valuable coins in the collection, valued at $9.8million is the coveted 1804 silver dollar which is known as 'the pinnacle of coin collecting'. Notably, it was presented to the Sultan of Muscat in 1835.

1822 Gold

Another highlight of the collection is a $5 1822 Gold Eagle piece, one of three in existence, and the only one in private hands. The most desirable US gold coin outside of public collections is expected to sell for around $8.8million.

1797 Half Dollar is considered the most beautiful and the most valuable half dollar. The coin is expected to sell for around $1.5million.

A coin previously owned by the Maryland banker Louis E. Eliasberg, Sr, and the early 20th Century beer magnate Virgil M. Brand, the 1808 Quarter Eagle is also expected to sell for around $1.5million.

David Redden, Sotheby's vice chairman, said, "To have the world's most valuable private coin collection available for viewing and sale in our galleries is a huge privilege and a great responsibility. Sotheby's and Stacks Bowers have worked fruitfully together in the past, notably on the sales of the 1933 Gold Double Eagle for $7.6 million and the Dallas Bank Collection. The D. Brent Pogue Collection will be a thrilling addition to that auction history."

D. Brent Pogue said, "I feel now is the time to pass the torch to a new generation of custodians, who can appreciate the legacy of these great American coins. These coins conjure up many fond memories, and I hope the new owners will enjoy them as much as I have."

Brian Kendrella, Stack's Bowers Galleries president, said investors and collectors are also lured by the rarity, uniqueness, condition and historical significance of coins.
"They are artefacts that speak to what was going on in the United States at the time these coins were made," he said.