SEDWICKCOINS BLOG

A variety of rarities and strong turnout by bidders helped propel Daniel Frank Sedwick, LLC’s Treasure Auction 24 results to over $3.1 million, a record-breaking sale for the firm. The sale, held live on Nov. 2-3 in Orlando, Florida and online on Nov. 5, featured over 2,300 lots. All prices cited include a 19 percent buyer’s premium.

Among the top lots in the sale was a set of specially struck 1915-dated Cuban gold pesos (lots 146-151). Five of the six coins, the 1, 2, 4, 10, and 20 pesos, are specimen strikes and certified as such by NGC. They are the only known specimen strikes for the series. The sixth coin, a 5 pesos, was graded NGC MS 66+ for its exceptional surfaces and is the finest graded for the type. All together, the set raised $473,025 on a combined $49,000 low estimate. The six lots were sold individually yet purchased by the same bidder. The top coin for the set was the specimen 20 pesos which took in $130,900 on a $20,000 and up estimate.

Cuba 1915 Specimen 20 Pesos, graded NGC SP 63. Realized: $130,900.

“This was our largest sale yet,” said president and company founder Daniel Sedwick. “This result was helped by having a variety of rare coins that appealed to a wide audience of collectors.”

An example of one of the first coins to be struck in the Americas, a Mexico City-struck Charles-Joanna “Early Series” 3 reales graded NGC VF 30, went up for bid as lot 664. Once bidding had concluded, the coin sold for $83,300 on a $35,000 to $70,000 estimate.

This Charles-Joanna “Early Series” 3 reales (note the denomination as three dots between the pillars) realized $83,300.

Strong bids were placed for two large silver bars, lots 256 and 257, recovered from the shipwreck of the Atocha, sunk in 1622 off Key West, Florida. Both bars came with Mel Fisher photo-certificates, were graded Class Factor 1.0, were of similar weight (83 troy pounds, 2.3 troy ounces and 81 troy pounds, 6.56 troy ounces, respectively), and estimated at $30,000 to $45,000 each. The bars ended up selling for $59,500 and $56,525, respectively.

Latin American world gold coins fared especially well in the sale. Lot 206, a Cuzco, Peru, 8 escudos, 1837BA, FEDERACION type, graded by NGC as MS64+ Prooflike realized $53,550 on a $35,000 to $50,000 estimate.

This Cuzco, Peru, 1837BA 8 escudos graded NGC MS64+ Prooflike is the finest recorded on the NGC census.

Other top lots in the auction include:

• Lot 5 – Mexico City, Mexico, cob 8 escudos, 1715J, special planchet and strike, NGC MS 64, ex-1715 Fleet, sold for $50,575.
• Lot 90 – Seville, Spain, cob 2 escudos, 1619G, ex-Atocha (1622), sold for $38,080.
• Lot 25 – Lima, Peru, cob 8 escudos, 1710H, NGC MS 63, ex-1715 Fleet, sold for $33,320.
• Lot 247 – Gold “finger” bar, 466 grams, marked with fineness XVII (17K), twice cut, encrusted with coral, ex-“Golden Fleece wreck” (ca. 1550), sold for $30,940.
• Lot 32 – Lima, Peru, cob 8 escudos, 1714/3M, very rare, PCGS MS62, ex-Pullin, ex-1715 Fleet, sold for $28,560.
• Lot 1 – Mexico City, Mexico, cob 8 escudos, 1713J, NGC MS 64, ex-1715 Fleet, sold for $16,065.
• Lot 901 – Argentina (River Plate Provinces), 8 reales, 1815F, Potosi mint, PCGS MS64+, sold for $15,470.
• Lot 249 – Small gold ingot, 6.35 oz., dated 1959, New York Assay Office, ex-Bently Collection, sold for $13,090.
• Lot 568 – Mexico City, Mexico, cob 8 reales, (1)715(J), from the pirate ship Whydah (1717), sold for $13,090.
• Lot 1477 – USA (Philadelphia mint), high relief $20 St. Gaudens “double eagle,” 1907, wire rim, sold for $9,520.
• Lot 1557 – Colombia, Banco de Panama, 5 pesos, ND (ca. 1869), serial RP 1715, PMG Choice VF 35, sold for $2,975.

Full prices realized can be viewed at auction.sedwickcoins.com. The company’s next auction will be held February 20, 2019 with a consignment deadline of March 3, 2019.

Special article contributed by Numismatic Guaranty Corporation

Six NGC-certified gold Cuban coins struck in Philadelphia, including two that realized six figures, were among the highlights of an auction held Nov. 2-5 in Orlando, Florida. All far exceeded their pre-auction estimates at the sale by Daniel Frank Sedwick, LLC.

Cuba 1915 Specimen 20 Pesos, graded NGC SP 63. Realized: $130,900.

The two top lots in the entire auction were a 1915 Cuba Specimen 20 Pesos, graded NGC SP 63, and a 1915 Cuba Specimen 10 Pesos, graded NGC SP 64. Realizing $130,900 and $107,100, respectively, the coins represent an interesting time in Cuban history.

After a brief time as a US protectorate, Cuba became independent in 1902. Still, the US maintained considerable influence in the island republic for decades, as evidenced by the designer and mint of these gold coins, the first issued by Cuba.

Struck at the Philadelphia Mint, they were designed by US Mint Chief Engraver Charles Barber (famous for the US Barber Dime, Quarter and Half Dollar). The Cuban coins were issued in denominations of 1, 2, 4, 5, 10 and 20 Pesos, and a small number of Proofs were made. It is believed some 24 to 36 of the 10 and 20 Peso issues were struck in Proof, along with 100 each of the 2, 4, and 5 Peso coins. The most common is the 1 Peso issue, with some 140 Proof coins struck.

The 1, 2, 4, 10, and 20 peso coins from this set were clearly something different. They were not exactly Proofs, but also clearly not Mint State coins. It is apparent that these coins were struck with extra pressure in order to bring up the rims, and it is likely that the planchets were also specially prepared. This gave the coin a semi-matte appearance, in comparison to the mirrored fields of the Proof issues.

The top lot in the auction was the Cuba 1915 Specimen 20 Pesos, from this special, unique striking. This coin was from a set of six coins, which included five Specimens and one exceptionally nice Mint State example. While the 20 Pesos was only estimated at $20,000 to $40,000, it sold for an astounding $130,900.

Cuba 1915 Specimen 10 Pesos, graded NGC SP 64. Realized: $107,100.

Also breaking the six-figure mark was the 10 Peso issue. It is also believed to be unique, and brought $107,100, far higher than its $10,000 to $20,000 estimate. The same collector who purchased the 20 Peso coin bought this one, as well as the other four coins in the set.

In all, the six coins realized $473,025, more than four times their cumulative estimates. Compare this amount with the result of a similarly graded 1915 gold Cuban Proof set (as opposed to specimens) that was sold as a single lot in January 2018 by Heritage Auctions for $180,000, and you can see that the set in the Sedwick sale is in a league of its own.

The remaining four Cuban coins were among the other NGC-graded highlights from the sale:

• A Cuba 1915 5 Pesos, graded NGC MS 66+, realized $77,350;
• A Cuba 1915 Specimen 4 Pesos, graded NGC SP 64, realized $53,550;
• A Cuba 1915 Specimen 2 Pesos, graded NGC SP 66, realized $65,450;
• A Cuba 1915 Specimen 1 Peso, graded NGC SP 66, realized $38,675;
• A Mexico 1536R 3 Reales, 3 Dots, with Waterline Below, graded NGC VF 30, realized $83,300;
• A South Peru – Republic 1837Cuzco 8 Escudos, graded NGC MS 64+ PL, realized $53,550;
• A Mexico 1715MO 8 Escudos, pedigreed to the 1715 Fleet, graded NGC MS 64, realized $50,575.

“We were very pleased with the results on NGC-certified coins, which are becoming a bigger part of our offerings with every auction,” said Daniel Sedwick, president and founder of Daniel Frank Sedwick, LLC.