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IAPN votes in Daniel Frank Sedwick as President

17 May

Daniel Frank Sedwick has been sworn in as president of the International Association of Professional Numismatists (IAPN). His new term began during the annual IAPN congress held May 13-15 in Carefree, Arizona.

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Daniel Frank Sedwick speaking at the IAPN congress.

Sedwick is the owner and founder of Daniel Frank Sedwick, LLC. He has worked as a professional numismatist since 1989 and has been hosting coin auctions since 2007.

He was elected without opposition to a two-year term. Prior to that, Sedwick served two years in the organization’s executive committee. He also chairs the IAPN’s committee on international trade.

“The IAPN embodies the highest standards and ethics among international coin dealers,” said Sedwick. “It is an honor to lead such a venerable organization in the fight for free trade in numismatics.”

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The IAPN’s logo.

The IAPN was founded in 1951 in Geneva, Switzerland. Today, more than 90 numismatic firms are in membership, located all over the world. Every member must agree to a code of ethics the organization developed to provide for the protection and preservation of numismatic heritage. The association pursues projects dedicated to the advancement of numismatics such as anti-counterfeiting, government relations, international numismatic trade, and promoting numismatic research.

The Association is a non-profit making organization established within the terms of points 60 to 72 of the Swiss Civil Code. Its registered office is at IAPN, CH-8000 Zurich (Switzerland).

Sedwick’s May 2-3 Treasure Auction 25 posts $2.05 million

11 May

A shipwreck-recovered early Spanish colonial gold tumbaga bar (lot 194) weighing 1.816 kilograms with a marked fineness of 5.75 karat saw heavy interest during Daniel Frank Sedwick, LLC’s Treasure, World, U.S. Coin & Paper Money Auction 25 conducted online on May 2-3. After the spirited bidding concluded, the bar realized a price of $50,575 on a $35,000 and up estimate. The bar was one of thirteen gold ingots recovered from the “Tumbaga wreck” which sank around 1528 off Grand Bahama Island. The surfaces of the bar bear the tax stamps in the name of Charles V, the Holy Roman Emperor who also ruled over Spain at the time.

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Lot 194 – Large tumbaga gold ingot, 1816 grams, marked with fineness V and three dots (5.75 karat, or 23.96% fine), also marked with R and S and several tax stamps of Charles V, Holy Roman Emperor, ex-“Tumbaga wreck” (ca. 1528), Garcia-Barneche Plate.

For silver shipwreck bars, a high-grade silver bar (lot 208) weighing 92 troy pounds, 3.84 troy ounces that was recovered from the wreck of the Atocha, sunk in 1622 off Key West, Florida sold for $57,715 on a $30,000 and up estimate. The bar was graded Class Factor 1.0, the highest grade given to Atocha silver bars, despite spending 300 years on the ocean floor. Two other Class Factor 1.0 Atocha silver bars in the sale weighing 76 troy pounds, 10.24 troy ounces (lot 209) and 60 troy pounds, 7.68 troy ounces (lot 210) sold for $50,575 (estimate: 25,000 and up) and $47,600 (estimate: $20,000 and up) respectively.

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Lot 208 –

Also from the Atocha shipwreck was a gold “finger” bar weighing 622 grams with a 20.25 karat fineness (lot 196) that went for $47,005 on a $25,000 and up estimate. Likewise, coins from the Atocha attracted heavy interest with a 1617-dated gold cob 2 escudos struck in Seville, Spain (lot 64) bringing $33,320 on an estimate of $7,000 to $10,000. Silver cobs from that wreck also saw very strong bidding; some coins brought over double the high estimate.

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Lot 64 – Seville, Spain, cob 2 escudos, 1617G, rare, ex-Atocha (1622).

A selection of rarities from the wreck of the Santa Margarita, sister ship of the Atocha and lost at the same time, also appeared in the auction. Lot 197, a gold bar weighing 282 grams with a marked fineness of 19.5 karat realized $33,320 on a $15,000 and up estimate. Also from the wreck was a Seville, Spain-struck gold cob 2 escudos (lot 65) from the reign of Philip III graded PCGS MS 61 that brought $17,255 on an estimate of $6,000 to $9,000.

“We are extremely pleased with the sale results,” said president and company founder Daniel Sedwick. “This was our second highest earning May auction since we began hosting auctions in 2007. A combination of motivated bidders and great consignments of fresh and varied material made this sale a success.”

The world coin sections of the auction saw many top rarities end up in new collections. For gold, an Argentina 8 escudos dated 1832/1 (lot 80) graded NGC MS 62 and pedigreed to the George Gund collection earned $26,180 on a $20,000 and up estimate. In silver, a Potosi, Bolivia-minted bust 8 reales dated 1776 (lot 917) and graded NGC MS 64 collected $10,115 on a $2,000 to $3,000 estimate.

Other top lots in the auction include:

  • Lot 8 – Lima, Peru, cob 8 escudos, 1705H, NGC MS 62, ex-1715 Fleet, sold for $30,940
  • Lot 13 – Lima, Peru, cob 8 escudos, 1714/3M, NGC MS 62, ex-1715 Fleet, sold for $29,750.
  • Lot 1535 – Gold chain, 43” long with fineness of 22 karat, ex-1715 Fleet, pedigreed to the Real Eight Company, sold for $23,800.
  • Lot 195 – Cut gold “oro corriente” piece with crowned-CA tax stamp for Charles I of Spain, 42.08 grams, ex-1500s wreck, sold for $20,230.
  • Lot 124 – Guatemala, bust 8 escudos, Ferdinand VI, 1757J, NGC VF 35, sold for $17,969.
  • Lot 201 – Large gold-in-quartz specimen, 323.2 grams, from the Sixteen to One Mine in Alleghany, California, sold for $16,660.
  • Lot 655 – Mexico City, Mexico, 4 reales, Charles-Jaonna, “Early Series,” assayer F/P to right, mintmark M to left, NGC AU 53, ex-Rudman, sold for $13,090.
  • Lot 203 – Silver “tumbaga” bar #M-105, 3,595 grams, assayer B~Vo, sold for $10,710.
  • Lot 510 – USA, gold $20 coronet Liberty “double eagle,” 1857-S variety 20A, PCGS MS 64 / SS Central America, sold for $8,330.
  • Lot 1133 – Lahore, India (British), original proof ½ rupee, 1945-L, George VI, large 5, PCGS PR65, sold for $8,330.
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Lot 1133 – Lahore, India (British), original proof 1/2 rupee, 1945-L, George VI, large 5, PCGS PR65.

  • Lot 826 – Potosi, Bolivia, cob 8 reales Royal (galano), 1749q, sold for $7,735.
  • Lot 1436 – San Jose, Costa Rica, Banco de la Union, 25 pesos specimen, 1889, PMG UNC 63 EPQ, sold for $7,735.
Lot 1436

Lot 1436 – San Jose, Costa Rica, Banco de La Union, 25 pesos specimen, 1-5-1889, series A, PMG Choice UNC 63 EPQ.

  • Lot 238 – Potosi, Bolivia, cob 8 reales, Philip II, assayer M, Grade 1, ex-Atocha, sold for $7,140.
  • Lot 966 – Santiago, Chile, “volcano” peso, 1832I, PCGS AU55, sold for $6,783.

Full prices realized can be viewed at auction.sedwickcoins.com. The company’s next auction will be held Nov. 2-3, 2019 with a consignment deadline of Aug. 17, 2019.

NGC graded coins, PMG graded notes featured in Sedwick’s May 2-3 Treasure Auction 25

22 Apr

A large variety of rare NGC graded coins and PMG graded banknotes are coming up for bid on May 2-3 in Daniel Frank Sedwick, LLC’s Treasure, World, U.S. Coin and Paper Money Auction 25. The floor auction will take place live online at auction.sedwickcoins.com; advance bidder registration is recommended. Here’s a look at some of the top lots appearing in the sale:

NGC-graded coins

PMG-graded notes

To bid on these and other lots in the auction, please visit https://auction.sedwickcoins.com/auctionlist.aspx.

Argentina gold, shipwreck treasure tops Sedwick’s 25th Treasure Auction

18 Mar

A rare, early Argentinean gold coin in a remarkably high grade is coming up for auction May 2-3 as part of Daniel Frank Sedwick, LLC’s Treasure, World, US Coin & Paper Money Auction 25.

Argentina

Argentina (River Plate Provinces), 8 escudos, 1832/1P, La Rioja mint, NGC MS 62. Estimate: $20,000 and up.

The top coin lot is an Argentina gold 8 escudos struck in 1832 at the La Rioja mint. The coin exhibits an overdate of 1832/1 and is graded by NGC as MS 62, a rare grade for the type. It is pedigreed to numismatist George Gund III’s collection. The obverse of the coin depicts a sunface, a common design found in post-colonial Latin American coinage. The coin is estimated at $20,000 and up.

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Large “tumbaga” gold ingot, 1816 grams, marked with fineness V and three dots (5.75 karat, or 23.96% fine), also marked with R and S and several tax stamps of Charles V, Holy Roman Emperor, lot #297 of the Christie’s (London) auction of April 28, 1993, ex-“Tumbaga wreck” (ca. 1528). Estimate: $35,000 to $50,000.

The sale will also host a number of ingots recovered from famous shipwrecks. One such ingot is a large gold bar from the Tumbaga wreck which sank around 1528 off Grand Bahama Island. The bar weighs 1.816 kilograms and contains 9 karat gold with a balance of silver, copper, and other trace metals. The early Spanish colonial bar also bears the tax stamps of Holy Roman Emperor Charles V. It is estimated at $35,000 to $50,000.

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Gold “finger” bar #33, 622 grams, marked with fineness XX-dot (20-1/4K) three times, foundry / owner SARGOSA / PECARTA and seven tax stamps, ex-Atocha (1622). Estimate: $25,000 to $37,500.

Another gold bar and four silver ingots from the wreck of the Atocha, sunk in 1622 off Key West, Florida, are also available for bidding. The largest silver bar weighs 92 troy pounds, 3.84 troy ounces and features markings from the owner, Arriola, and the assayer, Mexia. The bar is accompanied by the original salvager’s certificate as well as stock certificates originally issued for the salvage company. The estimate on the bar is $30,000 and up.

The gold bar from the Atocha weighs 622 grams and has a gold fineness of 20-1/4 karats. Its long, thin shape led to its modern day nickname of “finger” bar. The surface of the bar shows markings for the fineness, foundry, owner, and seven tax stamps. The lot also includes the original salvager’s certificate. The ingot is estimated by the auction firm at $25,000 to $37,500.

Shipwreck coins will make a big showing in the auction. In a rare occasion, a pair of gold Seville, Spain cob 2 escudos, one each from the Atocha and its sister ship Santa Margarita that sank at the same time, will appear in the sale. The Atocha 2 escudos is dated 1617 and estimated at $7,000 to $10,000. The Santa Margarita 2 escudos bears a partial date from the 1620s and is estimated at $6,000 to $9,000.

Another shipwreck artifact of historical importance is a 22-karat, 42” long gold chain from the “Cabin wreck” site of the 1715 Fleet. The fleet sank on July 31, 1715 off the east coast of Florida during a hurricane while carrying treasure to Spain. On July 21, 1964, the chain was recovered and documented by the salvage company Real Eight Company. Supporting documents attesting to the find and where it was located at the wrecksite are included with the chain. The estimate on the lot is $20,000 and up.

Other top lots in the sale include:

  • Lima, Peru, cob 8 escudos, 1705H, from the 1715 Fleet and graded NGC MS 62 as well as pedigreed to the Real Eight Co. and Pullin collections. Estimate: $15,000 and up.
  • Cut gold bar #22, 282.2 oz troy, marked with fineness XIX: (19.5K) four times, assayer/foundry FERNAND / ALONSO, and tax stamps, from the Santa Margarita. Estimate: $15,000 and up.
  • Lima, Peru, cob 8 escudos, 1714/3M, rare, NGC MS 62, from the 1715 Fleet (designated on label). Estimate: $15,000 to $22,500.
  • Guatemala, gold bust 8 escudos, Ferdinand VII, 1757J, NGC VF 35. Estimate: $15,000 to $22,500.
  • Honduras, gold 10 pesos, 1883, NGC AU 50. Estimate: $15,000 to $22,500.
  • Large gold-in-quartz specimen, 323.2 grams, from the Sixteen to One Mine in California. Estimate: $12,500 to $20,000.
  • Lima, Peru, cob 8 escudos, 1747V, NGC MS 63, finest known in NGC census. Estimate: $10,000 to $15,000.
  • Guadalajara, Mexico, bust 8 escudos, Ferdinand VII, 1821FS, rare, NGC AU 50, ex-Damon (stated on label). Estimate: $10,000 to $15,000.
  • Peru, gold star medal with diamonds, ca. 1853, rare, Salbach Plate. Estimate: $10,000 to $15,000.
  • Popayan, Colombia, 10 pesos, 1870, extremely rare, PCGS AU 58, finest known in PCGS census. Estimate: $7,000 to $10,000.
  • Set of original proof British India silver coins dated 1945 consisting of the one, half, and quarter rupees, all graded by PCGS. Combined estimate: $10,000 to $15,000.

Bidders can register now for the auction at www.auction.sedwickcoins.com. The auction catalog will be available April 8 at www.sedwickcoins.com. For more details, please contact Daniel Frank Sedwick, LLC at office@sedwickcoins.com.

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.

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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.

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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.

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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

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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

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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

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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.

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