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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.

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.

Sedwick’s Treasure Auction 23 to feature PCGS-graded coins

10 May

A wide variety of rarities graded by PCGS are set to draw heavy bidding during Daniel Frank Sedwick, LLC’s Treasure, World, U.S. Coin and Paper Money Auction 23 to be held live online on May 15 and 16, 2018.

PCGS-graded coins

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Lot 24: a Lima, Peru, cob 2 escudos, struck during the reign of King Philip V of Spain and lost while en route to Spain while aboard a vessel in the 1715 Fleet.

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

Sedwick’s Auction 23 to feature NGC-graded coins and PMG-graded notes

24 Apr

A wide variety of rarities, both NGC-graded coins and PMG-graded notes, are set to draw heavy bidding during Daniel Frank Sedwick, LLC’s Treasure, World, U.S. Coin and Paper Money Auction 23 to be held live online on May 15 and 16, 2018.

NGC-graded coins

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Lot 2 – Mexico City, Mexico, cob 8 escudos, (17)14J, Royal obverse die, encapsulated NGC MS 61, ex-1715 Fleet.

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).

PMG-graded notes

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Lot 112 – USA, Continental Currency, $35, Jan. 14, 1779, serial 169644, PMG AU 53 EPQ.

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Lot 1561 – Lima, Peru, Banco Central, 100 soles, (1935) overprint on Banco de Reserva, 10 libras, 12-4-1922, series AI, serial 079433, PMG VF 30.

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Lot 1568 – San Juan, Puerto Rico, Banco Espanol, 20 pesos specimen, ND (ca. 1889), series C, PMG Gem UNC 65 EPQ, finest and only known example in PMG census.

Interested bidders can visit auction.sedwickcoins.com to view all the lots in the sale as well as place bids. The online auction will go live at 10 AM EST on May 15, 2018.

Historical regulated $15 gold coin to appear in Sedwick auction

13 Mar

In the early years of the United States of America, a lack of gold coinage forced citizens to utilize an unusual but practical source. Known as regulated gold, these were foreign gold coins adjusted by respected goldsmiths to weights compatible with US dollars. One such piece, an NGC-graded XF 40 Lima, Peru, cob 8 escudos dated 1741 struck during the reign of Philip V of Spain and regulated by Boston goldsmith Joseph Edwards, Jr. (1737-1783) to $15 in circulating value, will cross the auction block in Daniel Frank Sedwick’s Treasure Auction 23. The sale will be held online at auction.sedwickcoins.com on May 15-16, 2018. The auction firm’s estimate for this coin is $100,000 and up.

regulated

An NGC-graded XF 40 $15 regulated gold piece made from a Lima, Peru, cob 8 escudos dated 1741 by Boston goldsmith Joseph Edwards, Jr., ca. late 1700s.

“This is a very important piece for both the Spanish colonial coin collector as well as the US collector,” said company president Daniel Sedwick. “Never before have we offered such a significant gold coin; the dual-nation history it represents goes far beyond a simple countermark.”

The lot represents the only known gold piece regulated by Joseph Edwards, Jr. Edwards was a third-generation goldsmith from a prominent Boston family. He learned his craft from one of his uncles, Thomas or Samuel, and became a prosperous metalworker himself. The coin is also unique with a US dollar-denominated regulation on a Spanish colonial 8 escudos cob. Furthermore, it is pedigreed to the Julius L. Brown collection and was sold in the S.H. Chapman auction of 1911 as lot 343.

Also appearing in Sedwick’s auction is a group of ingots recovered from seven different shipwrecks. The top ingot lots are three large silver bars recovered from the Atocha, sunk in 1622 in the Gulf of Mexico. The finest one is a Class Factor 1.0-graded bar (the highest grade attainable for bars from the wreck) weighing in at 88 troy pounds, 3.84 troy ounces and dated 1621. It has an estimate of $30,000 and up. The other two large bars, with Class Factors 0.7 and 0.9, are estimated at $20,000 to $30,000 each. Another Atocha ingot of note in this auction is a rare cylindrical “piña” weighing 4,312 grams, estimated at $15,000 and up.

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Tax stamps in the name of King Philip III of Spain and fineness markings can be seen on the top of this unique “piña” ingot from the Atocha (1622).

Other top lots include:

  • A Lima, Peru, gold cob 8 escudos dated 1712 recovered from the 1715 Fleet and graded by NGC as MS 62, estimated at $12,500.
  • Half of a gold “finger” bar weighing 439 grams recovered from the “Golden Fleece wreck,” sunk ca. 1550 in the northern Caribbean, estimated at $17,500 and up.
  • A Costa Rica 8 reales 1846JB counterstamp on a Guatemala cob 8 reales dated 1739, estimated at $7,000 to $10,000.
  • An 1856-S Coronet Head Liberty $20 graded by NGC as UNC Details / sea salvaged from the “Fort Capron treasure,” estimated at $3,000 to $4,500.
  • A Puerto Rico 20 pesos specimen bank note circa 1889 graded by PMG as Gem UNC 65 EPQ (the finest and only known example in the PMG census), estimated at $1,500 and up.
  • Selections from the Richard Stuart collection mainly focusing on Honduras and Nicaragua provisional issues.
  • The James Bevill collection of Mexican coins and paper money, including several plated in his Texas history book The Paper Republic.
  • The Ricardo Muñiz collection of Mexico City, Mexico, pillar 1 reales.

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

FUN Wrap Up and Coins Weekly

9 Jan

While the weather gods weren’t smiling upon us benevolently with our famous Florida warm winter weather, the temperature was blistering inside the Florida United Numismatists (aka FUN) 2018 winter show in Tampa. We had brisk sales and collected consignments for our next Sedwick Treasure, World, U.S. Coin and Paper Money Auction #23 on May 15-16, 2018. It looks like buyers and collectors are optimistic. We are too!

2018 FUN Show

Daniel Frank Sedwick, LLC booth at the 2018 FUN show in Tampa 

At the show, I was fortunate enough to renew my acquaintance with Ursula Kampmann, founder of CoinsWeekly, a popular online newsletter for the trade. Aside from that newsletter, she is launching companion newsletter called AuctionsWeekly which will list every Friday ”all auctions that will take place during the following week as well as just published fixed price lists.” What a great way to keep up with all the auctions that take place around the world, especially during very busy auction times! You can subscribe here: https://www.coinsweekly.com/en/Subscribe-to-CoinsWeekly-Newsletter/37. You’ll see us listed as time gets closer to our next auction.

Cori and Uschi at January 2018 FUN Show

Cori Downing, left, with Ursula Kampmann, right

By the way, if you’re in the New York City area, find us at our table at the New York International Numismatic Convention (NYINC) January 11-14 now held in the Empire State Ballroom of the Grand Hyatt, located at 109 East 42nd Street, New York, NY 10022, between Park and Lexington Avenues. We hope to see you there!

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Happy Holidays and New Year’s Resolutions 2017

21 Dec

by Cori Sedwick Downing

With a very successful Sedwick Treasure, World, U.S. Coin and Paper Money Auction #22 in the history books and consignments for #23 starting to trickle in, it seems an appropriate time to reflect on our hobby and tell you trends we see for 2018.

First, let’s start with a homily that was often repeated by my father, Frank Sedwick, during his years as a coin dealer: “If you want to sell, the time to sell is when you have a willing buyer.” That seems like good advice, but more often than not, we twist that tidbit of wisdom to read, “If you want to sell and someone wants to buy, perhaps you’re not asking enough.” Frank would counter with, “There is always a willing buyer when the price is right.” So, what’s the right price? Mostly it’s a matter of demand. The right price depends on who wants/needs something at that moment. The right price could also depend on the price of silver or gold, and we all know how that fluctuates.

As a hobbyist, your New Year’s resolutions should include spending some time with your hard-earned collection to determine which coins you need to upgrade and which you’ve got duplicates of. Consider putting your duplicates at auction or private sale and hope to make enough money to afford any upgrades that might be available.

What does our crystal ball say?

We’ve seen a fair amount of what we call “grade inflation” among encapsulated coins. crystalball_coinThere’s more “mint state” material circulating than we’ve seen in the past. The old AU 58 becomes the new MS 61. This happens in many fields—not just coins—and eventually the market adjusts. The take-home lesson is to look at the COIN and not the SLAB.

Another trend that we’ve noted is that more and more collectors of US coins are transitioning to collecting world coins. By comparison, world coins are a bargain! The material is also fresh to them as opposed to the same old retread US coins. There’s no reason to believe that this influx of buyers won’t continue. This is not only valid for the Latin American market, where we see the trend auction after auction but also for mainland Spanish coins that finally seem to have found their way into the US collectors field.

A continuing trend is that quality trumps rarity. Even when a coin is unique or very rare, if its quality or grading is low, it may fetch less at auction than a coin of lesser rarity but higher quality.

One more comment regarding the market for 2018 (at least in our field): we have noticed a big interest in Latin American military decorations, medals and tokens. They are now eligible for grading and better understood thanks to several works published in recent years. Their price has made them affordable in the past but the feeding frenzy has begun and they may not be so affordable in the future.

In the end, a wise collector learns as much as he or she can and applies good sense to investing. Don’t buy something for the sake of having it; buy it because you like it. That way you can always examine your coin collection with a smile and most likely you will hold it for a longer time increasing the chances of eventually the value also going up.

Happy Holidays to you and your loved ones from the team at Daniel Frank Sedwick, LLC—Daniel, Augi, Cori, Connor, and Michelle.

You can find us in the New Year at these shows:

          (Consignment deadline for Auction 23, February 25 )

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