Like many in-person events at the start of 2022, the Florida United Numismatists (FUN) show had some delays and adjusted dates because of the pandemic. The final schedule for bidding was January 12-16, 2022. Heritage Auctions’ FUN US Coins Signature Auction in Orlando was a celebration of Trophy Coins and there were many $1 million-plus coins that sold.
Most of the $1 million dollar coins sold and commanded strong prices. While some did not sell, Heritage Auctions cited record prices in many coins and a tie for the number of 7-figure lots ever in a Heritage auction. All in all, the three events saw a total of $74.2 million in total sales:
- US Coins auction led the way with $65,422,650.
- The Currency event traded $6,995,178 in total.
- The World Paper Money sale generated $1,857,462 in sales.
Without the schedule changes, there can be some speculation that maybe some coins were either overlooked or that their minimum bids were too high to generate bidding interest. Then again. look at how many record prices Heritage cited in the results.
One thing that looks clear after a strong 2021 is that the numismatics market looks like it is off to a strong start in 2022. These prized trophy coins are getting a lot of buzz. Newcomers are also coming into the coin space as high-end collectibles have attracted investors.
Collectors Dashboard evaluates high-end collectibles as an alternative asset class. This means collectibles are attracting the same capital that could have been invested into stocks or bonds. Many collectibles now cost thousands of dollars (or much more). Collectors with a passion to own a collectible for years frequently have to compete directly against investors whose only desire is to make a profit in the future.
1795 $10 Capped Bust 9 Leaves MS63+ PCGS CAC sold for $3,360,000 on January 13 after 37 bids (Image below by Heritage Auctions). Heritage explained this coin’s scarcity and attraction:
The 1795 eagle, with the 9 Leaves reverse, is the rarest and most popular of all the Capped Bust Right, Small Eagle die varieties. John Dannreuther calls this issue “the king of the Small Eagle type.” Heritage Auctions is privileged to present the finest certified example of this important early gold rarity in this landmark offering… Although the 1795 9 Leaves eagle is a widely popular, sought-after variety today, it was largely unrecognized by students of the series until relatively recent times. John Colvin Randall identified four varieties of 1795-dated eagles by 1885, but he did not mention the 9 Leaves reverse in the catalog of his collection when it was sold by W. Elliot Woodward in June of 1885. Likewise, Silas Wodell exhibited three varieties of the 1795 eagle at the 1914 ANS Exhibition, but the BD-3 variety was not represented.
Also included below are some of the additional high-end sales from the event.
1796 $2 1/2 No Stars on Obverse MS62+ PCGS CAC sold for $2,160,000 on January 13 after 28 bids.
1874 $10 Bickford Ten Dollar PR65+ Cameo PCGS sold for $1,980,000 on January 13 after 35 bids.
1861 $20 PR66 Deep Cameo PCGS sold for $1,800,000 on January 13 after 31 bids.
1796 25C Quarter Dollar MS66 PCGS sold for $1,740,000 on January 13 after 44 bids.
These were the highlights and auction prices as of January 14, 2022, the final realized prices have been updated to each item. In a first from Collectors Dashboard’s experience some coins did not sell. We have not heard back yet over the reasons they did not sell. It would be easy to speculate that last minute changes caused by the pandemic got in the way, but it is also not uncommon that a coin or other high-end collectible just will not bring the price a seller is willing to part with it.
1879 $20 Liberty Head Quintuple Stella, PR63 Cameo PCGS, only four examples exist in private hands and had a reserve amount of $2,000,000. With Buyer’s Premium included the minimum bid was $2,400,000. The coin did not sell.
Justh & Hunter Gold Ingot, 866.19 Ounces. The Largest J&H Ingot Recovered and the Largest S.S. Central America Ingot Ever Offered at Auction. The bid was $1,350,000 after 50 bids placed and sold for $2,160,000 on January 14 after 55 bids. (Image below by Heritage Auctions)
1839/8 $10 Type of 1838 Eagle, PR62. Only three known and likely the only one available according to Heritage Auctions. The reserve amount is $800,000.00. With Buyer’s Premium included the minimum bid is $960,000.00. The coin did not sell according to Heritage Auctions. Here is the disclaimer for this event that they posted:
“This [Not Sold] indicates an item that did not sell at auction either because it did not receive bids equal to or greater than the reserve (minimum bid) amount set by the consignor, or because the sale was canceled.”
1821 $2 PR65 Cameo NGC with only three examples traced according to Heritage Auctions. The reserve amount is $750,000.00. With Buyer’s Premium included the minimum bid is $900,000.00. The coin did not sell according to Heritage Auctions.
1792 Copper Disme SP64 Brown, the finest certified example, had a bid of $625,000.00 after 35 bids and sold for $1,170,000 after 37 bids.
1910 $20 Experimental Finish SP66+ PCGS CAC, Unique had a bid of $587,500.00 after 25 bids and sold for $840,000.00 after 28 bids.
1880 $4 Coiled Hair Stella PR61 NGC rarest $4 issue had a bid of $320,000.00 after 31 bids and sold for $504,000.00 after 35 bids.
1860 $20 Clark, Gruber & Co. Twenty Dollar Pikes Peak Gold, AU55 NGC had a reserve amount of $240,000.00. With Buyer’s Premium included the minimum initial bid was $288,000.00. The coin sold for $600,000.00 after 19 bids.
1830 $2 1/2 Templeton Reid Quarter Eagle AU55 PCGS CAC had a bid of $240,000.00 after 25 bids and sold for $336,000.00 after 26 bids.
1870-CC $20 VF25 PCGS Variety 1-A Rarest Carson City Twenty according to Heritage Auctions. The coin had a bid for $230,000.00 after 21 bids and sold for $324,000.00 after 23 bids.
Categories: Coins & Money