Archive by Author

Sedwick hosts record $3.1 million auction

9 Nov

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.

1915_Cuba_G20P_SP63_4499455-006_lg2

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.

664

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.

206

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.

History and Design Merge with Classic Commemoratives

31 Oct

By Connor Falk

 

The classic commemorative silver half dollar series represents a merger of historical events and people with appealing coin designs. Issued between 1892 and 1954, classic commemorative halves were struck and sold to the growing coin collecting community in the United States. The use of coinage to represent important American events, places, people, and events broadened the appeal of coin collecting. Their designs reflect both the classical themes in use during the late 1800s and early 1900s, the art deco era of the 1920s and 1930s, and the post-World War II modernism during the late 1940s and early 1950s.

 

Due to their low mintages and wide collector market, the series has appreciated substantially from the $1 to $2 the coins were originally sold for. In this article, I’ll highlight three important classic commemorative coins as well as an overview of the other commemoratives in our Nov. 2-3 auction.

 

150th Anniversary of Captain Cook’s Discovery of Hawaii – 1928

31508208_1

1928 Hawaii Half Dollar

Commemorating the sesquicentennial of Captain James Cook’s arrival at the Hawaiian islands on a commemorative half dollar was initially raised in 1927 by the territorial government of Hawaii. The bill easily passed Congress and was signed on March 7, 1928 by President Coolidge. The Philadelphia Mint struck the complete mintage of the type at 10,008 coins. Eight of those struck were used for assay purposes; the other 10,000 were sold by the Bank of Hawaii at $2 a coin. The commemorative proved to be very popular with collectors and quickly sold out. Since then, its low mintage, scarcity, and popularity both in subject matter and design have driven demand and it is now considered a key date in the classic commemorative half dollar series.

 

The obverse of the coin depicts a left facing bust of Captain Cook with the legends UNITED STATES OF AMERICA, IN GOD WE TRUST, and HALF DOLLAR just above, to the right, and below the bust, respectively. To the left of the bust, it reads “CAPT. / JAMES COOK / DISCOVERER OF / HAWAII.” The reverse shows a Hawaiian chieftain in front of a Hawaiian beach, holding a spear and with his right arm outstretched with the legends E PLURIBUS UNUM and 1778 1928 below.

 

The example in our sale, lot 1498, is graded NGC MS 63. The estimate on it is $1,250 to $2,000.

 

400th Anniversary of Álvar Núñez Cabeza de Vaca’s Old Spanish Trail – 1935

31508214_1

1935 Old Spanish Trail Half Dollar

The authorization and design of the 1935 Old Spanish Trail half dollar was a personal project of L.W. Hoffecker, an El Paso coin dealer and ANA official (he would later become the organization’s president from 1939 to 1941). In his position as the chairman of the El Paso Museum Coin Committee, he lobbied the government for a bill to commemorate Spanish explorer Álvar Núñez Cabeza de Vaca’s expedition from Florida to northern Mexico from 1528 to 1536. Once the bill had passed, Hoffecker worked with a sculptor, Edmund J. Senn, to create the coin design in plaster based on Hoffecker’s original sketches.

 

The design takes some artistic liberties with Cabeza de Vaca’s travels: stops in St. Augustine, Jacksonville, Tallahassee, Mobile, New Orleans, Galveston and San Antonio are shown despite Cabeza de Vaca travelling mainly by boat around the Gulf coast. Upon approval of the designs, the US Mint struck the 10,008 coin mintage in September. Hoffecker received 10,000 of the coins to resale for $2 plus postage; another eight were used for the Assay Commissions annual meeting. By most accounts, the coins were well-received by collectors and, though they took time to sell out, are rather scarce and desirable.

 

The obverse of the coin shows a cow head, symbolizing Cabeza de Vaca which literally translates as “head of a cow.” Above, the legends read UNITED STATES OF AMERICA, E PLURIBUS UNUM, and LIBERTY, below the legends read ALVAR NUÑEZ CABEZA DE VACA and HALF DOLLAR. The reverse design consists of a palmetto tree in front of a map depicting Florida, Alabama, Mississippi, Louisiana, and Texas with a line showing Hoffecker’s interpretation of Cabeza de Vaca’s journey. El Paso is marked at the far left. Legends read OLD SPANISH TRAIL above and 1535 – 1935 below.

 

The example in our sale, lot 1504, is graded NGC MS 65. The estimate on it is $800 to $1,200.

 

100th Anniversary of Missouri’s Admission to the Union – 1921

31508200_1

1921 Missouri Centennial Half Dollar

The authorization for the Missouri Centennial half dollar called for a massive mintage of 250,000 coins, a reduction from the 500,000 called for in a prior draft of the bill. Such a mintage would easily make it one of the most common classic commemoratives, yet only 50,028 coins were struck. Of this, 28 were set aside for the Assay Commission. The 50,000 mintage was then sent to the Sedalia Trust Company for mail orders as well as sales at the Missouri Centennial Exposition at a price tag of $1.

 

Of these 50,000 coins, 5,000 were initially struck with a special notation 2*4 to the left of the bust before having this device ground off the dies. For the 45,000 without the 2*4 notation, 29,600 coins were melted after sales proved sluggish. The final numbers, 5,000 coins with 2*4, 15,400 without 2*4, are suspect as modern market prices suggest the availability for both versions is about the same with a slightly higher premium for the 2*4 versions. Many numismatic experts suggest a roughly even 10,000/10,400 split is more likely.

 

The obverse shows a left-facing bust of Daniel Boone wearing a coonskin cap with the legend UNITED STATES OF AMERICA above, 1821 and 1921 flanking, and HALF DOLLAR below. The notation 2*4 is present to the left of the bust, just above the 1821. The reverse shows a frontiersman holding a rifle and gesturing to the left, directing the attention of a Native American who is holding a peace pipe. A field of stars is set along the background with SEDALIA below and MISSOURI CENTENNIAL above.

 

The example with 2*4 notation in our sale, lot 1490, is graded NGC MS 64. The estimate on it is $800 to $1,200.

 

Other Classic Commemoratives in our auction:

PCGS-graded coins up for bids in Sedwick’s Treasure Auction 24

22 Oct

Heavy bidding is expected for a plethora of rare and historical coins graded by PCGS during Daniel Frank Sedwick, LLC’s Treasure, World, U.S. Coin and Paper Money Auction 24. The lots up for sale run the gamut from rare shipwreck gold to South American coins and medals that are missing in major collections. The floor auction will take place Nov. 2-3, 2018 in Orlando, Florida and online at auction.sedwickcoins.com with an internet-only session to follow on Nov. 5.

PCGS-graded coins

Bidding on the above lots is open from now until the lots hammer down during the Nov. 2-3 sale. Bidders interested in viewing the lots in person can see them Oct. 25-28 at booth #1137 during the Whitman Baltimore coin show. Lots will also be available for viewing at the auction site Nov. 1-3. For more information regarding the auction, please visit www.sedwickcoins.com/ta24/catalog.htm.

NGC and PMG-graded highlights in Sedwick’s Treasure Auction 24

17 Oct

Many rare and, in some cases, unique NGC-graded coins and PMG-graded notes are up for bidding in Daniel Frank Sedwick, LLC’s Treasure, World, U.S. Coin and Paper Money Auction 24 to be held on Nov. 2-3, 2018. The floor auction will take place live in Orlando, Florida and online at auction.sedwickcoins.com with an internet-only session to follow on Nov. 5.

NGC-graded coins

PMG-graded notes

Bidding on the above lots is open from now until the lots hammer down during the Nov. 2-3 sale. Bidders interested in viewing the lots in person can see them Oct. 25-28 at booth #1137 during the Whitman Baltimore coin show. Lots will also be available for viewing at the auction site Nov. 1-3. For more information regarding the auction, please visit www.sedwickcoins.com/ta24/catalog.htm.

Ultra rarities up for bid in Sedwick’s November sale

21 Sep

How do you price ultra rare coins? Bidders will soon find out Nov. 2-3 when a unique set of 1915-dated Cuban specimen gold pesos come up for sale in Daniel Frank Sedwick’s Treasure Auction 24.

The Cuban gold set is made of all six denominations (1, 2, 4, 5, 10 and 20 pesos) struck in 1915 by the Philadelphia mint on behalf of the then fairly new Republic of Cuba. The coins were all designed by U.S. Mint Chief Engraver Charles Barber. What makes the set rare is the fact that five of the six coins are recognized by NGC as specimen strikes. To date, no other specimens for those denominations are known.

Cuba1916_20Pesos

This unique Cuban 1915 gold 20 pesos, estimated at $20,000 and up, is one of six specially struck coins in the set.

The only outlier to the set is the 5 pesos which, while not having the specimen surfaces the other coins possess, was clearly well struck and specially handled. NGC graded the coin MS 66+, the finest known in both the NGC and PCGS censuses. Other NGC grades for the set range from SP 63 (20 pesos), SP 64 (4 and 10 pesos), SP 66 (1 and 2 pesos). Estimates for the coins range from $2,000 and up for the 1 peso up to $20,000 and up for the 20 pesos. The set will appear in the auction as lots 146 to 151. Final bids for the set will hammer down Nov. 2 with bidding available live at auction.sedwickcoins.com.

“Having this set in the auction really speaks to the strong market behind Latin American coins,” said president and company founder Daniel Sedwick. “It’s anyone’s guess as to where the final bids will end up but we’re expecting heavy interest from many experts and collectors.”

Another top lot in the sale is lot 5, a specially struck, 1715-dated Mexico gold cob 8 escudos recovered from the 1715 Fleet and graded NGC MS 64. The coin exhibits an even, round planchet and a clear date, shield and crown. Upon manufacture, it was put aboard a ship in the ill-fated 1715 Fleet, which sank off Florida’s east coast on July 31, 1715. This coin was then lost for almost 250 years before being recovered by the Real Eight Company and featured in the Schulman auction of November 1972. In Sedwick’s auction, the estimate on the coin is $35,000 to $50,000.

17158E

After being carefully prepared by the Mexico City Mint, this 1715 gold cob 8 escudos was lost aboard the 1715 Fleet for almost 250 years.

A much earlier Mexican coin expected to draw much attention is lot 664, a Mexico City-minted Charles-Joanna assayer Rincón silver 3 reales, with waves, graded NGC VF 30. The coin was struck around 1536 to 1538, making it one the earliest coins minted in the Americas. In addition to its history and choice grade, it boasts a pedigree to the Isaac Rudman collection. The estimate on the coin is $35,000 and up.

3R

This choice Mexico City-minted Charles-Joanna 3 reales, struck around 1536-1538, is one of the earliest coins minted in the Americas.

Other top lots include:

  • Lot 206: a Cuzco, Peru, gold 8 escudos, 1837BA, FEDERACION type, graded NGC MS 64+ Prooflike, finest known in both NGC and PCGS censuses, estimated at $35,000 to $50,000.
Cuzco.jpg

NGC graded this Cuzco, Peru, 1837-dated 8 escudos as MS 64+ Prooflike because of its lustrous and reflective surfaces.

  • Lots 256 and 257: two large silver bars (one 83 pounds, 2.3 troy ounces and the other 81 pounds, 6.56 troy ounces) recovered by Mel Fisher from the Atocha, sunk in 1622 off the Florida Keys, estimated at $30,000 to $45,000 each.
  • Lot 20: a Lima, Peru, gold cob 8 escudos dated 1701H, graded PCGS MS62 and recovered from the 1715 Fleet as well as pedigreed to the John Pullin collection, estimated at $20,000 and up.
  • Lot 247: a gold “finger” bar weighing 466 grams from the “Golden Fleece” wreck, sunk ca. 1550, estimated at $20,000 and up.
  • Lot 568: a Mexico City-minted cob 8 reales fully dated 1715(J) recovered from the pirate ship Whydah, sunk in 1717 off Cape Cod, Massachusetts by salvager Barry Clifford, estimated at $10,000 and up. Barry Clifford, who discovered the ship in 1984, will give a talk on his discovery of the Whydah at the auction site on Nov. 1.
whydah

This 1715-dated Mexican cob 8 reales was recovered by Barry Clifford from pirate Captain Sam Bellamy’s Whydah, the only salvaged pirate treasure shipwreck.

  • Lot 638: an 1865-S $20 double eagle recovered from the S. Brother Jonathan, sunk in 1865 off California, and graded PCGS AU58, estimated at $8,000 to $12,000.
  • Lot 1557: a Colombia, Banco de Panama, 5 pesos (ca. 1869), graded PMG Choice VF 35, the finest graded in the PMG census, estimated at $2,000 to $3,000.

Bidders can register now for the auction at www.auction.sedwickcoins.com. The auction catalog will be available Oct. 9 at www.sedwickcoins.com. For more details, please contact Daniel Frank Sedwick, LLC at office@sedwickcoins.com.

¿Águila o Sol? The Mexican 20 centavos of 1943-1974

4 Sep

By Connor Falk

The Mexican bronze 20 centavos of 1943 to 1974 is a beautiful coin with a wealth of history in its design. From the Pyramid of the Sun on the reverse to the National Arms on the obverse, the design is attractive and bold. A lustrous, Gem BU example shines with a bright, copper-red color. Also pleasing is a circulated example with surfaces an earthy-brown tone, having served a long time in Mexican commerce.

History of the Bronze 20 Centavos

With the beginning of World War II, Mexico became a primary supplier of silver to the United States of America. Such strong, wartime demand for the metal increased prices and sparked public hoarding and melting of Mexican silver coinage, particularly of the 20 centavos. In addition, the Casa de Moneda (the Mexican Mint in Mexico City) found it difficult to strike enough silver coinage to satisfy public demand.

Even the silver coinage that was issued didn’t circulate well. Reports at the time show many people made do with bronze 1 centavos as well as copper-nickel, then bronze, 5 centavos to replace the 20 centavos. Such a system was cumbersome and could not fully alleviate the 20 centavos shortage. With an economy heavily skewed towards silver coins (upwards of 94% of coins in circulation at the time were silver, the rest being bronze or copper-nickel), an alternative needed to be found to bring back the 20 centavos.

On Aug. 10, 1943, a presidential decree signed by President Manuel Ávila Camacho authorized a new bronze 20 centavos. According to Historia del Banco de México: Volume 3 by Eduardo Díaz (2015), the dies for a bronze, 28.5 mm 20 centavos piece had been made already by engraver Manuel Luna Negrete, assisted by Francisco Rivera Paniagua. Those dies were rapidly put to use. Production began almost immediately on Aug. 19, 1943 using “all the copper they could get.” The Casa de Moneda was soon producing 400,000 20 centavos a day. Total production in 1943 amounted to 46,350,000 bronze 20 centavos compared to a scant 3,955,000 silver 20 centavos.

20centavos1943obv_hires

Reverse of the 1943 20 centavos featuring the Pyramid of the Sun.

The design of the bronze 20 centavos is fully emblematic of Mexico and quite striking. The obverse features the coat of arms of Mexico: an eagle clutching a snake above a cactus, with the legend ESTADOS UNIDOS MEXICANOS above. The reverse features the Pyramid of the Sun at Teotihuacán with the city’s name at the pyramid’s base. Beyond the pyramid are the volcanic mountains Ixtaccíhuatl and Popocatépetl; above, the denominator 20 is divided by a liberty cap and embellished with sun rays with the mintmark oM below. In the foreground, two varieties of cactus flank the denomination CENTAVOS and the date. The depiction of an eagle on one side and the Pyramid of the Sun under a sunburst on the other gave rise to the Mexican phrase “¿águila o sol?” (eagle or sun?) in the same way Americans say “heads or tails?”

Some design elements of the bronze 20 centavos reflect earlier Mexican coinage designs. The Phrygian cap and sun rays are nearly identical to those found on the cap-and-rays 8 reales of the 1800s. Similarly, the two mountains Ixtaccíhuatl and Popocatépetl appear prior on the gold 50 pesos of 1921 to present (struck with a frozen date of 1947 since that year) and the 1921 2 pesos. Finally, the coat of arms of Mexico is present on a number of coin designs though styles vary. The closest early depiction to that of the arms found on the bronze 20 centavos would be the “hook neck eagle” of the 1824 silver reales.

The bronze 20 centavos series is marked by three distinct obverse design changes. Type 1 (KM-439), produced from 1943 to 1955, features a small national emblem. Type 2 (KM-440), which began part way through 1955 and continued to 1971, features a larger national emblem with wider spacing between ESTADOS UNIDOS MEXICANOS. Type 3 (KM-441), minted in mid-1971 to 1974, features a stylized national emblem that is very different from the previous two reverse designs. Although mintages were split between Types 1 and 2 in 1955 and Types 2 and 3 in 1971, there is no noticeable scarcity in those years for any particular type. No bronze 20 centavos were struck from 1947 to 1950 and in 1961, 1962, and 1972.

20centavosreverses_hires

Left to Right: Type 1 (1943-55), Type 2 (1955-71), and Type 3 (1971-74).

The end of the bronze 20 centavos denomination is very similar to how it began. By the early 1970s, the price of copper had risen enough to surpass the face value. In mid-1974, the Casa de Moneda ended production of the bronze 20 centavos in favor of a lighter, smaller copper-nickel version.

The Market Today

The market for the bronze 20 centavos is wide open to collectors. Most dates have high mintages in the tens of millions and can be had in Gem Brilliant Uncirculated grades for a few dollars. At the grading services, the majority of graded examples are from lower mintage dates. Such dates include 1951 (11,385,000 struck), 1952 (6,560,000 struck), and 1959 (6,017,000 struck).

All dates are readily available, both raw and in slabs, even in Mint State grades. According to the NGC census as of Aug. 3, 2018, 77 coins (12.9 percent) of all graded bronze 20 centavos are 1951-dated; at PCGS, 27 coins (8.3 percent) are from 1951. For 1952-dated pieces, NGC has seen 131 examples (21.9 percent); at PCGS, 31 coins (9.5 percent). Another 76 coins (12.7 percent) of NGC-graded pieces are from 1959; PCGS reports 27 coins (8.3 percent) for the same date. For those three years at the two grading companies, all slabbed examples received Mint State grades.

Only business strikes are known for the series; no proof strikes were made. There is, however, an interesting mule error known for the 1973 issue. The error pairs the 20 centavos reverse (the pyramid side) with an obverse meant for the 1973 copper-nickel peso. The error is not readily apparent. The size difference is negligible; the 20 centavos has a diameter of 28.5 mm while the peso has a diameter of 29 mm.

Under examination, a few key diagnostics give the mule error away. Most notably, the “T” in ESTADOS on a normal 1973 20 centavos has a top bar that dips down at the ends; the mule has a T with a straight top bar. The “A” in ESTADOS also varies from thick with legs connected at the bottom on the regular issue versus a thinner, open version on the mule. The “I” in UNIDOS stands straight on a regular strike; the mule has an “I” with its top tilted to the left. Lastly, the “M” in MEXICANOS is wide on a regular example; the M appears narrow and bold on a mule.

1973muleerrorcolorhires

Regular 1973 20 centavos at left, mule peso obverse at right.

It is unknown how many 1973 20 centavos mule errors were made. At this time, NGC has graded two pieces: one MS 66 Red, the other MS 67 Red. A value on a mule 20 centavos is tough to give at this time. No mules have appeared on the market recently and are unlisted in Krause. Given the large mintage for the year, it is reasonable to think that more are out there.

Another collectible in the series are bronze 20 centavos encapsulated by NGC in commemoration of the 2014 U.S. Mexican Numismatic Association Convention. The coins were donated by the Mexican Coin Company (now World Numismatics) and slabbed for free, then handed out to convention attendees. They can be found in NGC sample slabs with the invoice number 2048221. Dates found in the USMEX slabs are 1957, 1960, and 1973. According to NGC records, 150 sample slabs were made.

11902_hires

An example of a USMEX Convention NGC sample slab containing a 1960 bronze 20 centavos.

Conclusion

The Mexican bronze 20 centavos was a workhorse in commerce for many years. It arrived at a pivotal time for the nation’s coinage, as gold and silver gave way to bronze and other base metals. Beyond its history, each piece also represents an example of Mexican craftsmanship with a design that is a well-executed testament to Mexico’s rich history.

Early American regulated $15 gold coin sells for $152,750

18 May

A unique, early American regulated $15 gold coin marked by Boston goldsmith Joseph Edwards, Jr. drew intense bidding during Daniel Frank Sedwick, LLC’s Treasure, World, US Coin & Paper Money Auction 23, held online May 15-16, 2018.

The coin’s rarity stems from a small IE countermark on a plug in what was once a Lima, Peru, cob 8 escudos dated 1741V. The NGC slab label denoted the coin’s grade of XF 40 as well as its unique association with Joseph Edwards, Jr. The coin, accompanied by an article on its history and pedigree to the Julius Brown sale of 1911, sold for $152,750 on a $100,000 and up estimate.

regulated

Lot 83 – USA, regulated $15, Joseph Edwards plug and countermark (Boston, ca. 1780) on a Lima, Peru, cob 8 escudos, 1741V, extremely rare, NGC XF 40, ex-Brown (Chapman, 1911).

Daniel Sedwick, president of Daniel Frank Sedwick, LLC, said the regulated $15 gold coin first appeared on the market in the 1911 sale, where the significance of the regulation mark went unnoticed. The coin sold for just $19 then.

“It was especially rewarding to see an exceptional result on lot 83, the first gold cob 8 escudos known to be regulated to a $15 standard with the mark of Joseph Edwards, Jr,” he said. “A record number of bidders propelled prices to strong levels in many areas, but particularly in gold cobs and shipwreck ingots, our specialties.”

Overall, the auction featured 2,001 lots and realized $1.65 million. All prices listed include a 17.5 percent buyer’s premium.

Lima

Lot 18, an NGC-graded MS 62 Lima, Peru, cob 8 escudos dated 1712M from the 1715 Fleet which sank off of the east coast of Florida.

The majority of top-selling gold cobs were those recovered from the 1715 Fleet, which sank off the east coast of Florida. Lot 18, an NGC-graded MS 62 Lima, Peru, cob 8 escudos dated 1712M sold for $25,850 on a $12,500 to $20,000 estimate. Another high performer was an NGC-graded MS 61 Mexico City, Mexico, cob 8 escudos dated 1715J (lot 6) that went for $18,800 on a $10,000 to $15,000 estimate.

Shipwreck ingots attracted interest as a trio of Atocha (1622) silver “loaf” bars (lots 243-245) in Class Factors 0.7, 0.9 and 1.0 (the highest quality) sold for $30,000, $32,500, and $48,500 respectively. Another Atocha ingot, a cylindrical “piña” ingot (lot 246), brought in $30,550 while a half-cut gold finger bar (lot 238) from the “Golden Fleece wreck” sold for $31,725.

Atocha

Lot 243, a Class Factor 1.0 silver bar weighing 88 troy pounds, 3.84 troy ounces found in the Atocha shipwreck.

Agustín García-Barneche, vice president of Daniel Frank Sedwick, LLC, was equally enthusiastic for shipwreck coins as well as world gold and silver coins.

“Our spring auction resulted in energetic bidder competition, especially in our Shipwreck and Latin America coin sections,” he said. “We positioned our company in a market that allows us to reach and attract consignors and bidders of Latin American numismatics.”

Latin American coin highlights in the World Gold Coins section included an NGC-graded XF details Costa Rican 8 escudos dated 1828F (lot 152) sold for $10,575 on a $8,000 to $12,000 estimate. In World Silver Coins, a Costa Rican 8 reales with an 1846JB 2-reales counterstamp and a “8” countermark on a Guatemala cob 8 reales (lot 1143) sold for $8,225 on a $7,000 to $10,000 estimate. Another rarity sold was a Mexico City, Mexico, pillar 8 reales dated 1733MF and graded NGC AU 53 (lot 1319) which blazed past its $2,000 to $3,000 estimate to reach $4,406.

Other top lots include:

  • Lot 1, a Mexico City, Mexico cob 8 escudos, undated but with visible assayer’s mark J from the 1715 Fleet graded NGC MS 61 sold for $10,869.
  • Lot 5, a Mexico City, Mexico 1714J cob 8 escudos from the 1715 Fleet graded NGC MS 63 sold for $10,810.
  • Lot 15, a Lima, Peru 1711M cob 8 escudos from the 1715 Fleet sold for $20,562.
  • Lot 194, a Mexico City, Mexico 1823JM Iturbide 8 escudos plated in James Bevill’s book The Paper Republic (2009) sold for $7,050.
  • Lot 242, a silver “tumbaga” bar weighing 2,801 grams from the “Tumbaga” wreck (ca. 1528) sold for $9,400.
  • Lot 466, a large clump of encrusted cob 8 reales weighing 1,266 grams from the 1715 Fleet sold for $6,462.
  • Lot 470, a Mexico City, Mexico cob 4 reales from the Whydah (1717) sold for $13,630.
  • Lot 608, an 1856-S Liberty Head double eagle graded NGC UNC details / sea salvaged from the “Fort Capron treasure” (1857) sold for $3,819.
  • Lot 878, a Potosi, Bolivia 1666E cob 8 reales Royal sold for $10,575.
  • Lot 989, a Santo Domingo, Dominican Republic enriched billon 11 maravedis sold for $8,225.
  • Lot 1568, a San Juan, Puerto Rico, Banco Español 20 pesos specimen (ca. 1889) graded PMG Gem UNC 65 EPQ sold for $1,410.
  • Lot 1599, a small, 7” piece of gold “olive blossom” chain from the 1715 Fleet sold for $4,759.

Full auction results can be viewed online at auction.sedwickcoins.com. Daniel Frank Sedwick, LLC is accepting consignments for their Treasure, World, U.S. Coin and Paper Money Auction 24 through Aug. 20, 2018. The sale will be held at the Disney Springs Doubletree in Orlando, Florida on Nov. 1-3, 2018. For more details, please contact Daniel Frank Sedwick, LLC by email at office@sedwickcoins.com.

%d bloggers like this: