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Treasure, World, U.S. Coin and Paper Money Auction 27 Coming Soon!

16 Feb

(pre-registration now open)

We’re starting off 2020 with something new: our first Live Floor Spring Treasure Auction! We’ve heard from consignors and bidders alike about how much they enjoy our Fall Floor Auctions, both for the lively in-person bidding as well as the chance to look at the lots in person. This year’s Spring Treasure Auction will be held April 29-30 at an historic art-based venue: the Germaine Marvel Building* at the Maitland Art Center, just minutes from Orlando, FL. Whether as a consignor or a bidder (or both), please attend and take part in the outstanding opportunities this event offers:

– Lot viewing for all lots the day before and during the live auction

– Live bidding in our state-of-the-art auction room with our popular auctioneer Sal Guttuso

Image result for at the Maitland Art Center is located at

f you need assistance scheduling your trip, please let us know and we will suggest the best options for your needs. Even if you can’t join us live, there are numerous ways for you to bid and participate remotely. Join phone and Internet bidders who will be given our usual expert attention and guidance by our staff.  Watch live video and audio feeds during the auction so you can see all the bidding action.

Interested in selling your collection or individual pieces? Want to start buying again and receive our announcements and catalogs? Now is a great time to buy or sell thanks to a robust market, our expertise and unwavering integrity in Spanish colonial and shipwreck coinage in over a decade of auctions. Every item in our auction is well researched, cataloged, professionally photographed, and presented in beautiful printed catalogs that become important references. We take auction lots to coin shows around the country for viewing, send out promotional literature, and personally get in touch with important collectors around the world.

Consignment deadline for this auction is February 29.

¡Hablamos su idioma! Our multilingual staff deals with the most important Latin American bidders and buyers in the market. We are able to travel and talk to all our bidders and consignors in Spain and Latin America, which creates a level of comfort that draws even the most cautious participants to our venue.

We offer cash advances for qualified consignments. Many consignors also enjoy being able to trade their proceeds against purchases within the same sale. Our personalized attention makes it possible to accommodate many special needs.

Contact us now to place your items next to these features already consigned to our Auction #27:

The Nueva Granada Collection of Colombian rarities

An extensive date collection of the finest and rarest Lima 8 escudos recovered from the 1715 Fleet

Ingots and artifacts from the Spanish Fleets of 1622 (Atocha and Santa Margarita) and 1715

Large variety of important Spanish colonial cobs and Latin American coins

Come see us at the following shows to consign to this auction or to view auction lots:

– Long Beach Coin & Collectibles Expo in Long Beach, CA, February 20-22: We are walking the show, so please make an appointment to meet with one of us to consign.

     – ANA’s National Money Show in Atlanta, GA, February 27-29: Come see us at our booth #215 to meet a big part of our staff in person to consign.

      – Central States Numismatic Society Show in Schaumburg, IL, April 22-25: Come see us at our booth #1909 to meet a big part of our staff and view lots in person.

Our auctions are known worldwide as the best place to buy and sell the kinds of coins and artifacts you love to collect or sell! We look forward to hearing from you soon to help you with your collecting or selling needs

Daniel Frank Sedwick, LLC | P.O. Box 1964 | Winter Park, FL 32790 | office@sedwickcoins.comPhone: 407.975.3325 / Fax: 407.975.3327 / Whatsapp14079753325

NGC-certified Cuban gold coins far exceed estimates at auction

7 Nov

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.

 

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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.

 

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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:

“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.

Time to Sell in Sedwick’s next Treasure, World, U.S. Coin & Paper Money Auction

29 Jul

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Looking to consign? Contact us today! Email us at office@sedwickcoins.com or call our office at 407.975.3325 (Consignment deadline August 20, 2018)

Our sixth live floor auction (Treasure, World, U.S. Coins & Paper Money Auction #24) will take place on November 2-3, 2018 at the DoubleTree Suites Hotel at Disney Springs, just minutes from Walt Disney World. We invite you to attend and take part in the outstanding opportunities this event offers, whether as a consignor or a bidder:

  • Educational presentations the day before the auction (November 1) by numismatic and shipwreck experts from around the world, including: Barry Clifford, underwater explorer and discoverer of the pirate treasure ship Whydah (1717); Dr. Kris E. Lane, Tulane University professor of colonial Latin American history and researcher on the colonial history of the Andes, mining, piracy, and global trade; and Emilio M. Ortiz, professional numismatist, researcher and author.
  • Networking with other collectors and dealers at our pre-auction dinner (November 1)
  • Lot viewing for all lots the day before and during the live auction right next to the auction room in the hotel
  • Live bidding in our state-of-the-art auction room

The special room rate will be available until October 9th or until the group block is sold out, whichever comes first. Booking a reservation is simple: Just click here to receive our preferred group rate: “Book a Room

If you prefer to make your reservation by phone, please call 1-800-222-TREE(8733) and specify group code “SED”. Hotel address and details as follows: DoubleTree Suites by Hilton Orlando – Disney Spring Area | 2305 Hotel Plaza | Lake Buena Vista, Orlando, Florida – USA 32830 – Tel: +1-407.934.1000 | Fax: +1-407.934.1015

Interested in selling your collection or individual pieces? Take advantage of this unique opportunity to consign to our Fall Floor Auction. Now is a great time to buy or sell thanks to a robust market, our expertise and integrity in Spanish colonial and shipwreck coinage, and our exhaustive marketing efforts. Every item in our auctions is well researched, cataloged and photographed, and presented in professionally printed catalogs that become important references. We take auction lots to coin shows around the country for viewing, send out promotional literature, and personally get in touch with important collectors around the world.

¡Hablamos su idioma! Our multilingual staff deals with the most important Latin American bidders and buyers on the market. We are able to travel and talk to all our Hispanic bidders and consignors, which creates a level of comfort that draws even the most private participants to our venue.

  Contact us now to place your items in our upcoming sale! Here is what we are seeking:

•  Choice and important Spanish colonial cobs from Mexico, Lima and Potosí
•  Collections of Latin American coins, particularly Costa Rica, Cuba, Mexico, and Peru
•  Gold bars and artifacts from the Spanish Fleets of 1622 (Atocha and Santa Margarita)
•  US coins and world paper money

Please come see us at the following show to consign to our auction:
• August 14-18, 2018: ANA World’s Fair of Money (booth #1333), Philadelphia, PA

And at the following shows to view the auction lots:
•  October 11-13, 2018: U.S. Mexican Numismatic Association Convention, Scottsdale, AZ

•  October 25-27, 2018: Whitman Baltimore Winter Expo, Baltimore, MD

Our auctions are known worldwide as the best place to buy and sell the kinds of coins and artifacts you love to collect or sell! We look forward to hearing from you soon to help you with your collecting or selling needs, and we hope to see you at one of our upcoming shows AND in Orlando in November for our live floor auction.

Sedwick Treasure auction to feature the James Bevill Collection of Mexican Coins & Paper Money

1 May

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The May 15-16, 2018 Treasure, World, U.S. Coin & Paper Money Auction #23 held by Daniel Frank Sedwick, LLC will feature 51 lots from the collection of author and researcher James P. Bevill. Many of these coins are the plate specimens from Bevill’s award winning book, The Paper Republic, the Struggle for Money, Credit and Independence in the Republic of Texas, 2009. Bevill’s pieces are all museum quality, having been exhibited in venues across Texas in Houston, Dallas, Austin, and most recently, the Rosenberg Library Museum in Galveston.

In the early coinage, one highlight is Lot# 689, a Mexico City 4 reales Charles-Joanna, Early Series, assayer P to right, mintmark M to left, described as “deep rainbow toning, full details (legend and interiors), AU or better but with areas of light surface pitting, as from the ‘Golden Fleece Wreck,’ ca. 1550, HISPANIE variety, with unusual stops between words in the legends on both sides, and a die match to the only other example known (Banco de Mexico collection).” There are a dozen Mexican 8 reales cobs represented from the Bevill collection in the sale, including ten with full four-digit dates, two of which are overdates: Lot #721, a 1652/49; and Lot #735, a 1659/8, described as “rare,” a “richly toned” VF with bold full date.

Mexican silver coins by type are well represented in the sale, including Lot #1379, a War of Independence, Monclova, 1811 countermark on cast Mexico City bust 8 reales 1809 HJ, graded VF30, c/s XF strong. It is one of just two graded in NGC census, both in VF. There are five Mexican pillar 8 reales, also known as Pillar Dollars, including Lot #1325, a rare Charles III, 1761MM, cross below ‘I” variety (rare). There are three silver 8 reales coins with the bust of Mexican Emperor Augustin Iturbide in the sale. Lot #1383 features an 1823 JM Iturbide, Mexico City, 8 reales, JM below eagle, NGC MS 62+. This coin is described as “Reverse with beautiful rainbow toning on lustrous surface, the obverse somewhat frosty and matte but also toning at rim, ties with two others for finest known in NGC census.”

The gold selections include a type set of doubloons by Spanish Kings, including: Lot #170, a 1744 MF Philip V, NGC MS61; Lot #131, a 1751 J Ferdinand VI from Santiago, Chile, NGC MS62; Lot #171, a 1760 MM Charles III (young bust), NGC AU53; Lot #172, a 1772 FM, Charles III, MGC AU53; and Lot #178, 1820 JJ Ferdinand VII, graded NGC AU55. Not to be outdone by the Spanish Kings, Lot #194 features an 1823 JM Iturbide 8 escudos, a desirable example of an important one-year type, with large bust and eagle inside shield, graded NGC AU58, featured on the cover of the catalogue and plated as Fig. 3.8 on page 61 of The Paper Republic.

Bevill remarked that this sale constitutes the “end of an area of collecting that I have enjoyed for almost two decades.” The collection was painstakingly acquired to illustrate the evolution of the Spanish monetary system in colonial Texas, both in his book and in a broader context: alongside other Texas treasures as part of several museum exhibitions which were viewed by over 287,000 visitors from 2011-2016. Through this auction, resourceful bidders have the opportunity to take home some of these pieces, forever enshrined in an important work in numismatic literature.

For a complete listing of Bevill’s Collection follow this LINK

Direct Link to The Auction

 The “Mesuno Hoard” Revisited 

19 Nov
(First Published April 7, 2009) by Daniel Frank Sedwick, LLC.

Shipwreck gold cobs are valuable and exciting items today, but in 1959 you could not give them away for much more than melt value. They had very little public interest until massive quantities of them from the 1715 Fleet off the east coast of Florida started to hit the market in the 1960s. But there was a small warm-up act before that big show, and its name was the “Mesuno Hoard” of 1636.

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Aerial view of the Magdalena River, taken during a flight to Medellin n 2014. (source: AGB)

The first Mesuno coin to hit the market was in 1939, offered by Spink of London as a Bogotá two escudos cob “found at the shores of the Magdalena river” (for the whopping price of about £15), but sales of these coins did not begin in earnest until 20 years later, with public offerings by Schulman and Stack’s Coin Galleries in New York (for about $50 to $75 each), backed up by hundreds of specimens that went directly into jewelry. These were all Bogotá two escudos cobs of 1628-35* (mostly 1635, but usually without the date visible), with mintmark NR (for Nuevo Reino) and assayer A (for Alonso de Anuncibay) or P (for Miguel Pinto Camargo) when visible, and usually in choice UNC grade (what we would call Mint State today) as from a hoard originating in Colombia. It was known that the hoard was found in 1936 at a bend known as “El Mesuno” in the Magdalena River near the town of Honda in Colombia. Also called the Yuma River, the Magdalena is the longest river in Colombia, flowing northward about 950 miles through the western half of the country, navigable by ship through much of its lower reaches but plagued by shifting sand bars at the mouth of its delta. There was a short article about the “Mesuno Hoard” by C.S. Wilcox in 1943 in Stack’s Numismatic Review, republished by that firm in 1959, but little else was said about the hoard, and still in 1959 no one but hardcore numismatists cared about these lumpy cob coins.

The 1960s changed everything, however, with the introduction of thousands of 1715-Fleet coins to the general public and the publication of important studies by X.F. Calicó and A.M. Barriga-Villalba finally establishing a knowledge base about the early Colombian cob coinage. It soon became clear that the 1636 “Mesuno Hoard” had compelling numismatic significance, since it had provided virtually the only known specimens from the first decade of production at the Bogotá mint. When properly researched by Leopoldo Cancio starting in 1959 (culminating in a series of articles in the 1970s), the discovery of the hoard was shown to have been sloppily reported in the 1930s, mostly due to intentional obfuscation by the finders. In addition to studying hundreds of the coins from the hoard personally at the Banco de La República in Bogotá, Cancio conducted some general interest research and ferreted out the names of the finders and distributors of the coins in Colombia, among other things. But as we shall see, there was much more to the story.

In November of 2007 the Colombian newspaper El Nuevo Día published an article about the “Mesuno Hoard” with some interesting and rather dramatic revelations, which we summarize here. Entitled “Así se despilfarró el tesoro de El Mesuno,” meaning “This is how the Mesuno treasure was squandered,” the article tells how three fishermen brothers by the name of Guzmán found the hoard and rapidly depleted their profits from sales of the coins. It is basically an interview with 89-year-old Don Alfredo Gutiérrez, who in the 1930s was the best friend of the youngest of the three brothers, and it reads like a Latin American novela.

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“Tesoro del Mesuno” exhibit: Casa de Moneda – Coleccion Numismatica del Banco de la Republica. Bogota, Colombia. 2014. (source: AGB)

Gutiérrez relates that on August 22, 1936, at about noon, his friend Domingo Guzmán went down to the river to check on fishing lines. While there, he noticed something bright in the water, like the sun reflecting off a metallic surface, and jumped into the river to investigate. There he found the remains of a small iron box, inside which were more than 1600 gold cobs as well as gold chains and diadems (ornamental headbands). Domingo immediately grabbed some of the coins and then buried the treasure box on land and placed a rock to mark the location (hence the enduring myth that this was a “land hoard”). Screaming something like “We are saved! God sent us these coins!,” Domingo ran to inform his two older brothers (identified by Cancio as Aristóbulo and Jorge), who apparently thought he had been eaten by a caimán (big alligator), since he had taken so long to return from the river.

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Bogota, Colombia, cob 2 escudos, (16)28 assayerA, from the “Mesuno Hoard”

The three brothers then rushed down to the river to the place where Domingo had buried the treasure. They divided the coins into three even parts and put them into metal cans of a type used for butter. Then they also divided the chains and diadems three ways. Gutiérrez made a comment that back then greed and jealousy were not an issue; nevertheless, before telling the news to his brothers, Domingo had secretly set aside a few cobs that he later gave to their mother.

 The first thing the Guzmán brothers did with their new-found wealth was to start frequenting a casa de citas, literally translated as a “dating house,” a euphemism for brothel. One of the most famous brothels in an area of Honda known as the zona tolerancia (“tolerance zone”) was located on Quebrada Seca street and was owned by Tulia Manzanares (the “madam”). Every time the brothers visited the brothel, the madam called out something like: “Girls, the coin doctors are here!” As the girls sat with the brothers drinking and dancing, the brothers paid for the favors with their gold cobs, up to five per girl—about a $10,000 value to collectors today!

As the main river port in its time, and the only means of transportation between the Caribbean coast and the inland capital city of Bogotá, Honda was very prosperous and was an obligatory stop for merchants distributing goods. Englishmen, for example, could always be found there trying to negotiate the price of tobacco that was cultivated in the Department (State) of Tolima (which contained the town and municipality of Honda). The substantial foreign presence there attracted the most beautiful prostitutes from all over Colombia and around the world (particularly Italy and Cuba) to work in Honda.

 So it seems most of the gold-cob fortune was wasted on luxuries, girls and liquor. But the article also relates a couple more subtle tales about the brothers and their gold. For one, in the middle of town the Guzmáns opened a puesto de carne (butcher shop), which at first sounds like a legitimate and prudent use of the money; but the truth was that, according to Gutiérrez, they sold libra y media por el precio de una libra, meaning 1½ pounds of meat for the price of one pound, with the presumed intention of attracting their female friends. The second “new rich” tale involved the requisition of a dozen custom-made suits for each of them to use on—wink wink—special occasions.

 Of course not everything was drunken, carnal fun for the Guzmán brothers. The last story we hear is that they bought a car, probably with their final few Mint State “bogeys,” and drove to Medellín for more fun. Domingo eventually returned to Honda penniless and so desperate that he stole some chickens, got caught, and landed in jail for a few weeks. Still despondent after his release in the first week of February 1937, Domingo Guzmán committed suicide in dramatic fashion during the celebration of Santa Lucía by blowing himself up with a stick of dynamite in the center of town. Nobody seems to know whatever happened to his older brothers.

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Bogota, Colombia, cob 2 escudos, 1635 assayer A, from the “Mesuno hoard”

For this article the newspaper also contacted the Banco de La República in Bogotá, which had eventually acquired most of the gold cobs, presumably from the people who had been paid with them by the Guzmán brothers, but also from other lucky fishermen who had found some loose coins that had spilled from the original chest. (The ones found by the Guzmáns, it should be noted, were in choice condition compared to some of the loose coins.) Cancio identified two of the fisherman as José Ardila and Manuel Valdés, who sold hundreds of coins to wealthy locals Victor Guillén and David Londoño, with the bank’s permission, as it was not otherwise legal to sell the coins within the country. The Bank confirmed that today its numismatic collection still publicly displays some 500 of these gold cobs. The other 1100 or so cobs went out of the country, with the majority of the coins ending up in New York, as we have seen.

 As for why the hoard was in the river in the first place, Angélica Araújo, vice director of the numismatic collection of the Banco de la República, commented that archives mention the loss of a champán (a large boat used in river navigation) in the Magdalena River at the time, and she believes these coins may have been a shipment to Cartagena to finance the construction of the castle of San Felipe. Since that would mean a whole ship, and not just one chest of coins, it is believed that the bulk of the treasure is still in the river, yet to be found. Perhaps of more importance to collectors now is that we can and should refer to the coins as true “shipwreck treasure,” in the sense of Spanish doubloons from a Spanish ship, and not just a “hoard” with no specific record of loss or intent. Even if we do not have a name for the ship that yielded these coins, the “Mesuno hoard” will always be important as one of the world’s largest single sources of gold cobs, and practically the only source for early Bogota two escudos.

 ———-

* The dates 1627 and 1636 are also possible from this hoard. Prior to the revelation of stylistic differences (particularly the size of the fleurs in the quadrants of the cross) between the early 1630s and the mid-1630s, it is likely that coins formerly attributed to 1630 were actually 1636, as in so many cases just the bottoms of the digits of the date are visible. And while no 1627 specimens are officially recorded for this hoard (or known so far),[2009] that date is clearly possible, as there is record of the Bogotá mint having received enough gold in December of that inaugural year to make about 750 two escudos, and also Calicó mentions the existence of an assayer-P specimen with overdate 1628/7.

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