Rare Gold Coin found in Kids Treasure Chest

A rare gold coin, Queen Anne 'Vigo' five guinea gold coin worth around £250,000 found in child's pirate treasure chest. The coin has been consigned by a gentleman from Bishop’s Hertfordshire, England to Boningtons auctioneers.

The gold Queen Anne Vigo coin was given to the child by his father who don't know anything about the coin value. His grandfather give it to him for his pirate treasure when he was a child.

The coin is one of only twenty made from the 7.5lbs of gold seized from Spanish treasure ships by the British in Vigo Bay, northern Spain, on 23rd October, 1702 – exactly 314 years ago.

The man had no idea of its value until he recently showed it to Boningtons’ coin specialist, Gregory Tong, who instantly recognised the highly sought after coin of which fewer than 15 examples are known.

“My Grandad had travelled all over the world during his working life and had collected many coins from the various countries he had been”, said the stunned and delighted vendor.

“He gave me bags of coins to play with (I was into pirate treasure) throughout my early years…As time passed these coins went back into bags and boxes and were forgotten about until I re-discovered them after my Grandad passed away. I looked back through the coins – remembering the stories I made up about them when I was small - and then gave them to my own son to play with and put into his own treasure box. My little boy has been playing with this coin as I did all those years ago.”

The series of 'Vigo' coins were made out of treasure captured by the British fleet after they failed to take Cadiz in 1702 but managed to seize gold and silver from Franco-Spanish treasure ships coming back from America. Struck the following year, the coins were made as part of an attempt to detract attention from the British failure at Cadiz, highlighting instead the haul of treasure they seized on their way home. The treasure was delivered with full pageantry through London and received at the Royal Mint by the Master of the Mint, Sir Isaac Newton.

The coin, only the sixth example of its type to be offered for sale in the last 50 years, is expected to break Boningtons’ house record of £200,000 set by the sale of a painting by Sir Winston Churchill earlier this year.

The Queen Anne 'Vigo' five guinea gold coin will be offered for sale at the Essex auctioneer’s Epping saleroom on Wednesday 16th November 2016 with an estimate of £200,000-250,000.

Source: Boningtons Auctions Essex.

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Sultan of Muscat coin failed to reach minimum

A Sultan of Muscat-Childs-Pogue 1804 silver dollar, that were on the auction on 24 May did not sell after bidders failed to reach minimum reserved prices, according to Sotheby's.

The legendary U.S. coin, only get a bid of $10,575,000 was place by phone for an 1804 Draped Bust Silver Dollar, but it failed to reach the consignor’s reserve price, Sotheby's auction house said in a statement.

Another legendary coin, 1822 half eagle only get a phone bid of $7,285,000 but it also failed to reach the consignor’s reserve price.

The pieces were highlights of the fourth coin auction series of the D. Brent Pogue Collection, which is working in collaboration with the auction house and Stack's Bowers Galleries.

Some 61 coins from the Pogue Collection, which in recent years has become the most valuable auction series in history, were sold for more than $16.7 million during the auction at Sotheby's headquarters in New York.

The collection focused on non-machine manufactured currency made from 1793 to the 1830s, said David Tripp, Sotheby's worldwide senior numismatic consultant.

"All the coins in the Pogue collection were struck and produced in these early years when things were really handmade and so there are all sorts of peculiarities," 

The 1804 Silver Dollar, originally owned by the Sultan of Muscat in 1835 and then by the Childs Family Collection for more than 50 years, was purchased by D. Brent Pogue in 1999 for $4 million.

One of the five most valuable coins in the world, the silver dollar features blue and gold tones and a portrait of America's Lady Liberty staring skyward, with stars bordering the coin's edges.

It is in such good condition that it has been given a Proof-68 grade by the Professional Coin Grading Service. That is one of the highest standards on the PCGS grading scale.

The Pogue Collection acquired the 1822 Half Eagle coin in 1982 from the Eliasberg Collection. Before that, the coin was unobtainable for decades.

Tuesday's auction marked only the second time in over a century that collectors have a chance to compete for the rare amber-colored coin, which also features Lady Liberty, this time donning a cape with "LIBERTY" printed on its side.

Source: Reuters

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1792 Silver Disme realized $998,750 in Heritage Auctions

The finest known 1792 Silver Disme AU50 PCGS Secure, Ex: Judd-Donald G. Partrick Collection, a rare second chance for collectors to acquire one of the most important and seminal early U.S. coinage issues, realized an impressive $998,750 final price to take the top spot in Heritage Auctions' $22.7+ million April 27-May 1, 2016 CSNS U.S. Coins Signature® Auction held in conjunction with the annual Central States Numismatic Society Convention at the Renaissance Schaumburg Convention Center Hotel in Schaumburg, IL.

The $22.7+ million U.S. Coins auction was the lead event in Heritage's $28 million trio of CSNS events — featuring a sell-through rate by total dollar value of more than 92% — which saw Heritage's CSNS Currency Signature® Auction realize $4.3+ million and Heritage's World Currency Signature® Auction, which rose to more than $900,000.

"Important early U.S. coinage was the main draw in this auction," said Greg Rohan, President of Heritage Auctions, "and elite collectors stepped up to take advantage of offerings that may well not be seen again for another generation or two."

The finest known J-10 1792 Disme SP64 Brown PCGS Secure, Ex: Garrett-Simpson, proved itself as an incredible and desirable artifact of the first days of the United States, nabbing a final price realized of $705,000. The coin's significance as one of the first minted in the newly constructed Philadelphia Mint in the early 1790s, was enhanced by its close association with David Rittenhouse, the first Director of the U.S. Mint.

Rounding out the early U.S. trio atop the auction podium was an impressive 1776 Continental CURRENCY Dollar MS65 PCGS Secure, in pewter, which rose amidst spirited bidding to finish the evening with a $235,000 final price realized. The 1776 Continental dollar is one of the most enigmatic issues in the early federal coinage series, with researchers believing they were struck as a substitute for paper dollars in late 1776.

A stunning octagonal 1915-S Panama-Pacific Fifty Dollar MS65 PCGS Secure CAC, boasting fantastic luster and originality, enticed a collector to take it home with a $205, 625 final price realized, while an 1844 Proof Quarter PR65 PCGS Secure CAC Gold Label, Ex: Pittman-Kaufman — the sole example available — realized $188,000, a solid price and a tribute to its rarity.

Further highlights include, but are not limited to:

• 1864 1 cent L On Ribbon PR65 Red Cameo PCGS Secure, Ex: Norweb: Realized $152,750.
• 1866-S $20 No Motto MS61 PCGS: Realized $152,750.
• 1833 $2-1/2 BD-1, R.5, MS66 PCGS, Ex: D. Brent Pogue: Realized $146,875.
• 1807 50C Draped Bust MS65+ PCGS CAC: Realized $141,000.
• 1652 Willow Tree Shilling XF45 NGC CAC: Realized $141,000.

Heritage next US coin auction is set for June 8-13 in Long Beach, and is scheduled to open for bidding around May 20. World Currency will be featured in one of our Hong Kong auctions scheduled for June 22-24, with bidding opening about June 3. US Currency will be among the featured attractions in Anaheim August 10-16 in conjunction with the ANA World's Fair of Money; you still have the chance to consign to this auction until June 20. Bidding on all of these auctions will take place through www.HA.com!

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Sultan coin expected to fetch millions

On May 24, D. Brent Pogue Collection Part IV sale will take place in Sotheby’s, New York City. A very rare Sultan coin, The Sultan of Muscat-Childs-Pogue 1804 silver dollar, expected to fetch millions in the auction.

The coin was only sold at auction twice, first in a 1917 London sale, then in 1999 when the Pogue family acquired it for $4.14 million.

The diplomatic gift from the United States to Said bin Sultan Al-Said, Sultan of Muscat and Oman is called the king of American coins. It’s considered one of the five rarest coins in the world, according to Stack’s Bowers Galleries.

Although the 1804 silver dollars are dated 1804, such pieces were not minted until 1834. In that year it was desired to create special diplomatic gifts to present on behalf of Andrew Jackson, the president of the United States, to foreign dignitaries.

As might be imagined, for each recipient a fine set of American coinage mounted in an appropriate case. Two sets—one displayed in a red leather case and the other in a case of yellow leather—are known to have been presented: one to the Sultan of Muscat (which included the Pogue Collection coin showcased here), and the other to the King of Siam. Four sets were made, the last two sets were never presented, and what happened to them is not known.

Another highlight from the collection is an 1822 half eagle, the finest of three known, the other two being in the Smithsonian Institution. In the past two centuries the 1822 half eagle has been sold at auction only two times: at the H.P. Smith Sale in 1906 and the Louis E. Eliasberg Gold Coin Collection Sale in 1982. Other transactions have been by private treaty.

The first three Pogue collection auctions netted $68,577,182, the most valuable series of numismatic auctions in history.

For more information on the Pogue Collection, visit stacksbowers.com.

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NGC Certifies Yunnan $10 Gold Coin

An extremely rare Chinese (1917) Yunnan $10 gold coin was recently submitted to NGC.

The first step for a grader is to ascertain the authenticity of the coin in hand. However, when NGC has never seen an authentic example of that coin before, the matter becomes greatly complicated. This was the case with an extremely rare Chinese (1917) Yunnan $10 gold coin that was recently submitted to NGC.

Yunnan Province was under the rule of military governor Tang Jiyao from 1913 until 1927. After Yuan Shi-kai proclaimed himself emperor of China in December 1915, Tang announced independence for Yunnan. This led to military confrontation with Yuan Shi-kai during the National Protection War. It is believed that around 1917, gold coins were struck to pay the military troops in Yunnan. Two denominations were struck: a $5 (5 Yuan) and a $10 (10 Yuan). 

These coins were blank on one side and feature a simple design of Chinese characters that translate to “equivalent of silver dollars 10” or “equivalent of silver dollars 5,” depending on the denomination. It is not known how many of these pieces were struck and how many survived.

NGC recently certified and graded an example of the $5, which had been part of the Dr. Lawrence A. Adams collection and previously sold by the Money Company Hong Kong at auction on September 6, 1986. While the $10 that was subsequently submitted is similar to the $5, NGC requires concrete proof of authenticity before it will grade and encapsulate a coin.

The first step for NGC graders was to locate known genuine examples for comparison. None could be located, and none of NGC’s consultants had ever handled an authentic specimen.

NGC graders next sought to examine plate photos from a major reference. These, however, also presented issues. The plates in the L&M reference came from Coins In The Collection of The Shanghai Museum, which was printed in 1995 and the quality of the images were too poor to confirm a die match. Another reference is currently believed to have used a counterfeit piece for its plates.

Although NGC graders could not use the L&M plate, these images led us to contact the Shanghai Museum since it had one of the few examples known to be authentic. With the help of NGC’s Shanghai office staff, images were taken of the piece in the Shanghai Museum. These images were compared to the example submitted to NGC’s headquarters and it was confirmed—the submitted coin was authentic. The coin was then assigned a grade of MS 61 by NGC.

While the majority of coins submitted to NGC are straightforward to authenticate, there are occasionally some extraordinary rarities that require extensive research. Every coin that NGC grades is guaranteed to be authentic and accurately graded so it is extremely important that every step is taken to ensure accuracy. This gives collectors the peace of mind knowing that when they buy a coin that is certified by NGC they are getting a coin that is authentic.

Source: NGC

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US Mint gain Possession of 1974-D aluminum Cent

The United States Mint announced on 17 March 2016, that it has recovered a 1974-D aluminum experimental one-cent specimen that was neither authorized to be struck nor authorized to leave the Mint. The Mint's recovery follows an agreement to resolve a lawsuit over the ownership of the piece.

The lawsuit in question involved an aluminum one-cent specimen that had once been in the apparent possession of a former assistant superintendent at the United States Mint in Denver, Colo. The two plaintiffs, an heir of the former assistant superintendent and a California coin dealer, filed suit in federal District Court in San Diego, California, seeking a declaratory judgment that the piece was legal to own.

Over 1.4 million of the experimental pieces were struck at the Mint in Philadelphia in 1974 as part of a test program to possibly replace copper one-cent coins. However, Congress never enacted legislation authorizing the Mint to issue one-cent coins composed of aluminum, and the test pieces were to all be melted. The specimen piece in question bears a "D" mark, signifying production in Denver, along with the date "1974," and appears to have been struck with a die intended for the Mint's Denver facility. However, authority was never granted for production of the experimental test pieces at Denver.

An heir of the now-deceased former assistant superintendent contended that his father was given the aluminum one-cent specimen as a gift upon his retirement. The heir provided the piece to an auction firm and hoped to sell it. In February 2014, the United States Mint became aware of plans to offer this particular piece for auction, and immediately reached out to the plaintiffs, notifying both that the United States Mint never issued, nor otherwise transferred title to any aluminum one-cent piece, and that indeed, lawful authority to issue them was never granted. Congress never divested the Government's interest in the subject aluminum one-cent piece, and accordingly, it remained the rightful property of the Federal government.

The Mint, upon authorization of the Secretary of the Treasury and as delegated by Congress, has the exclusive authority to mint and issue U.S. coins and other numismatic items. Items made at United States Mint facilities but not lawfully issued--or otherwise lawfully disposed of--remain government property and are not souvenirs that Mint officials can remove and pass down to their heirs.

The agreement directs that title to the piece rests with the United States Mint and that it be transferred to its custody and control. Mint Police have secured the piece. The Mint considers the specimen to be a valuable historic heritage asset. Accordingly, it intends to display the specimen publicly so that this heritage asset can be properly showcased and enjoyed by numismatists, coin collectors and the general public. The display forum has not yet been decided, but the Mint will make an announcement when a decision has been made.

"The Mint is very pleased with the agreement, and we are very grateful to the U.S. Attorney's Office in San Diego for its work and efforts in reaching this resolution. We look forward to displaying the coin appropriately as an important Mint heritage asset," said Rhett Jeppson, United States Mint Principal Deputy Director. "This agreement is not only good for the integrity of the coin collecting hobby but for the integrity of the government property and rule of law."

Source: US Mint

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