Legend’s largest auction shatters records in New Orleans

1787 Fugio copper, MS-65 BN. Hover to zoom.

Anchor collections attract largest number of bidders in firm’s history

(Lincroft, NJ—May 18, 2018) Nearly double the number of lots in a typical Regency Auction, Legend’s 26th Regency, held over two days in New Orleans attracted the largest number of viewers, registrants, and bidders in the firm’s history. Directly leading to an explosion of activity prior to and during the live auction sessions. In all, 855 lots crossed the auction block, with 237 silver dollars making up the first ever thematic session dubbed “Dollar Day.” With anchor consignments of Morgan and Peace dollars sold on Wednesday and major collections of Barber dimes and quarters, toned Proof Indian cents, three-cent nickels, toned Walking Liberty half dollars, Carson City half eagles and patterns making up Thursday’s auction session. The firm reports a 20% increase in the number of registered bidders from the previous record achieved at Regency Auction 23. The official auctioneer for the PCGS Member’s Show brings out some of the biggest and best buyers resulting in netting exceptionally strong results for consignors.

Regency Auction 26 began with an explosive start. The first day’s offerings, focused solely on silver dollars, anchored by the P.F.M. Collection of Morgan Dollars, selections from the world-famous Aurora Borealis Collection of Toned Morgan Dollars, and the Crow River Collection of Peace Dollars. In all, the 237-lot auction session saw record-breaking participation from numismatic enthusiasts from all over the world. Amongst the most notable pieces, the highest grossing lot in the session was the 1892-S dollar in MS-65 from the P.F.M. Collection, the current # 6 PCGS Registry Set, realizing $193,875.

Other Dollar Day highlights hailing from the P.F.M Collection of Morgan Dollars, the Crow River Peace Dollar Collection, and other important consignments include:

Lot 8

Lot 8: $1 1865 PR-64+ CAM realized $17,038.

Lot 29: $1 1880-CC MS-67 realized $29,375.

Lot 44: $1 1882 MS-67 realized $28,200.

Lot 77

Lot 77: $1 1889-CC MS-63 realized $42,300.

Lot 78: $1 1889-O MS-66+ realized $43,475.

Lot 89: $1 1891-O MS-65 DMPL realized $58,750.

Lot 116

Lot 116: $1 1899-O Micro O. MS-64+ realized $32,900.

Lot 131: $1 1903-S MS-66 realized $25,850.

Lot 171: $1 1880-S MS-65+ realized $10,281.

Lot 207

Lot 207: $1 1921 Peace MS-66 realized $18,212.

Lot 222: $1 1927-D MS-66 realized $41,125.

Lot 229: $1 1934-S MS-66 realized $32,900.

Lot 232

Lot 232: $1 1925 MS-67+ realized $32,900.

“Silver dollars have always been a major part of our firm’s legacy,” Julie Abrams, president of Legend Rare Coin Auctions said after the conclusion of Dollar Day. “Now the P.F.M. and Crow River Collections are among the great collections of silver dollars we have been privileged to auction over the years, all of which have brought record numbers—we are proud to add these two collections to our list of record-breaking silver dollar auctions.”

“We knew early on that the concept of Dollar Day would attract not just great consignments that came in after the announcement was made, but it would bring out the very best, strongest buyers to the auction. We had so many requests to view lots ahead of time—in our California and New York City official previews, special requests at Central States, and appointments for private viewings in our headquarters that these amazing collections would attract record prices,” added Greg Cohen, senior numismatist for LRCA.


The Regency Auction continued the evening of Thursday, May 17. From the start, bidding was fierce, with drawn-out bidding warfare breaking out on many lots. The Premier Collection featured duplicates from a world-class collection of Proof Barber dimes, Mint State Barber quarters, and Walking Liberty half dollars assembled quietly and patiently by an astute Legend Numismatics client. Following the Premier Collection, many coins realized well in excess of their estimates, in some cases double the estimate or more. Historically important coins experienced extremely strong demand, including the Gem Fugio copper and Confederate cent restrike. Selections from the Aurora Borealis Collection of toned Indian cents drew attention from specialist collectors realizing strong bids across the board. Silver type coins also attracted extremely strong bidding, especially for fresh to the market Gem quality issues. A small, high powered group of Seated half dimes and other 19th-century silver realized well in excess of presale estimates exceeding expectations. Coins with beautiful toning sparked a fire among collectors, with the toned Walking Liberty half dollars featured in the Dale Larsen Collection eliciting exceptional results overall. The small selection of classic commemoratives proved that there is life to this series that has just been battered over the years. Gold coins in all series glittered and glowed. Anchored by the Oak Crest Collection of Carson City Half Eagles, advanced collectors, gold bugs and many other enthusiastic buyers alike duked it out to win the coins of their fancy. Closing out the Regency Auction was Part One of the extensive Steven Cook Collection of Patterns, a large and diverse cabinet of these rare coins.

Among the many highlights, these coins showed amazing prices brought across the board:

Lot 238

Lot 238: 10C 1893 MS-67+ realized $17,625.

Lot 268: 25C 1898-O MS-66+ realized $22,913.

Lot 298: FUGIO 1787 UNITED STATES, 4 CINQ. MS-65 BN realized $20,563.

Lot 299

Lot 299: 1C 1861 C.S.A. Restrike, Copper. PR-64 BN realized $52,875.

Lot 303: 1C 1800 AU-58 realized $17,038.

Lot 356: 1C 1935 MS-68+ RD realized $34,075.

Lot 385

Lot 385: 3CS 1864 PR-67+ CAM realized $31,725.

Lot 387: 3CN 1865 PR-67 DCAM realized $23,500.

Lot 467

Lot 467: H10C 1859 MS-68+ realized $25,850.

Lot 474: 10C 1836 MS-67+ realized $73,438.

Lot 514: 25C 1863 PR-66 CAM realized $18,213.

Lot 583

Lot 583: 50C 1876 PR-66 realized $12,338.

Lot 595: 50C 1941-D MS-67+ realized $11,163.

Lot 640: 50C 1941 PR-68+ realized $18,800.

Lot 656

Lot 656: 50C 1936-D Rhode Island. MS-68 realized $43,475.

Lot 672: G$1 1880 MS-66 GOLD realized $6,463.

Lot 686: $2.50 1905 MS-68 realized $24,675.

Lot 710

Lot 710: $5 1871-CC AU-58 realized $44,650.

Lot 718: $5 1879-CC AU-58 realized $16,450.

Lot 736: $5 1903 MS-67 realized $27,025.

Lot 829

Lot 829: 25C 1871 J-1019. PR-65 realized $7,344.

Lot 834: 20C 1875 J-1414. PR-64 BN realized $10,869.

Lot 836: 10C 1877 J-1498. PR-65 BN realized $10,281.

Lot 851

Lot 851: $1 1872 J-1214. PR-65+ CAM realized $31,725.

“The Regency Auction enjoyed record phone, internet, and live bidding in the room through both nights’ sales. We have never seen such a turnout for our auctions,” Laura Sperber observed. “The lot viewing table in New Orleans was standing room only from open ‘til close. Once bidding began, in many cases there were multiple bidders battling it out to bring home the numismatic prize they desired. The stats don’t just speak for themselves, they scream! There were over 100,000 unique page visits. All the exposure we gave the coins in our worldwide marketing campaign prior to the sale and lot viewing across the country, made sure that every coin was seen by the largest possible group of buyers.”

Julie Abrams added, “Legend’s special brand of boutique auctions, with hand-selected consignments, and expert descriptions have yet again brought out the biggest and best buyers, helping our consignors realize maximum value for their prized rarities. We are always accepting consignments for our upcoming auctions, and the July Regency Auction already has hundreds of great, fresh to the market coins: including a “mini pre-1800 type set,” a world-class Morgan dollar collection from a well-known specialist, the Chester Roche Collection of Gold Coins, and Part Two of the Steven Cook Pattern Collection”

Legend Rare Coin Auctions is a boutique auction firm that handles rare coins. Founded by Laura Sperber, the firm’s Regency Auctions are the official auctions for the PCGS Member’s Only Shows. For more information about consigning to, or bidding in upcoming auctions, visit the website of Legend Rare Coin Auctions.

Press release courtesy of Legend Rare Coin Auctions.

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Comments

  1. earthling says

    I just got a “1918” Peace Dollar from Moonlight Mint. The detail is absolutely stunning . So stunning I had to order 2 more. I may keep reordering until there are no more. In my most humble opinion the Hi Relief Peace Dollar is the most Beautiful US Coin ever produced. To be able to finally get such a wonderfully fully struck representation at such a low price is a true blessing.

    For those that have Millions…. go ahead and spend Millions. For the rest of us…. Moonlight Mint is our best friend.

  2. Larry says

    I love the old proof coins. But even the cheapest is beyond my means. Sigh. The only place I get to see them is coin shows.

  3. Buzz Killington says

    There is a legitimate question whether owning these pieces is superior to seeing high quality digital images like this, which simply weren’t available when I started out in collecting.

  4. MarkInFlorida says

    I would think a couple monster boxes of silver eagles have more upside than an old coin of the same cost.

  5. Erik H says

    MarkInFlorida, a million dollars in silver bullion vs a million dollar coin??? You’re probably right. But there’s bragging rights that comes with owning rare coins and you can’t get that will common ASEs.

    That’s why some collect and some stack (of course some do both).

  6. cagcrisp says

    IF the Fed does what most economists estimate the Fed will do in the next 2 years, then a Silver Low of $16.20 will Not hold.

    A Lot of headwinds for Silver IF the Fed does what is expected.

    The USD is obviously the key as to whether the Raising of interest rates makes the USD Stronger, which Should happen, OR whether the Combined efforts of Trump, Mnuchin, Ross and Navarro will Continue to Weaken the USD.

    Tough call…

  7. cagcrisp says

    Tuesday AM Gold Fix $1,293.90

    Tuesday PM Gold Fix $1,293.05

    While it Appears there will be a Mint Gold Reduction price tomorrow, All it takes is a Wednesday PM Close above $1,300.00 to Stop the Decline…

  8. Sith says

    Really folks we are comparing collecting to seeing images. Next thing you will tell me is that owning the TPG label is the same thing as owning the coin. As far as numismatic vs semi-numismatic vs bullion, that is an old debate, but IMHO it depends on objectives, the economy, and if your collecting, or stacking. Each type has it cons\pros. Me personally, I would take a 1964-D Peace Dollar over a million dollars in anything…

    BTW I also love the the Hi Relief Peace Dollar, but I collect Peace dollars.

  9. Buzz Killington says

    Yes, I really am comparing seeing high quality digital images of coin to owning them.

    Most of my interactions with my collection is from images, while the real things are in a bank vault.

    I do find myself thinking about this: does it matter whether they are in the bank vault? The collecting bug can be hard to kick, so periodically questioning what you are doing with collecting is worthwhile, in my view.

  10. cagcrisp says

    17AJ 2017 ATB SILVER UNC 5 OZ – EFF MNDS 16,790 +11
    17AK 2017 ATB SILVER UNC 5 OZ – DOUGLASS 17,347 +24
    17AL 2017 ATB SILVER UNC 5 OZ – OZARK 17,205 +28
    17AM 2017 ATB SILVER UNC 5 OZ – ELLIS ISLAND 17,616 –
    17AN 2017 ATB SILVER UNC 5 OZ – G R CLARK 14,731 –
    18AJ 2018 ATB SILVER UNC 5 OZ – PIC ROCKS 16,326 + 86
    18AK 2018 ATB SILVER UNC 5 OZ – APOSTLE ISL 14,459 + 205

  11. cagcrisp says

    16EA 2016 AM EAGLE SILVER PROOF 1 OZ 588,517 +171
    16EB 2016 AM EAGLE GOLD PROOF 1 OZ 24,123 +6
    16EC 2016 AM EAGLE GOLD PROOF 1/2 OZ 5,954 +4

  12. cagcrisp says

    17EA 2017 AM EAGLE SILVER PROOF 1 OZ 379,689 +282

    17EB 2017 AM EAGLE GOLD PROOF 1 OZ 8,907 +12
    17EC 2017 AM EAGLE GOLD PROOF 1/2 OZ 2,444 +3
    17ED 2017 AM EAGLE GOLD PROOF 1/4 OZ 4,424 +1
    17EF 2017 AM EAGLE GOLD PROOF 4-COIN SET 9,811 –

    17EG 2017 AM EAGLE SILVER UNC 1 OZ 152,577 5,841

    17EJ 2017 AM EAGLE PLATINUM PROOF 1 OZ 8,890 –

    17EL 2017 AM BUFFALO GOLD PROOF 1 OZ 15,810 –

  13. cagcrisp says

    A Very Strong number for Week #2 of the Buffalo…

    18EA 2018 AM EAGLE SILVER PROOF 1 OZ (W) 270,584 +2,578

    18EB 2018 AM EAGLE GOLD PROOF 1 OZ 3,246 +93
    18EC 2018 AM EAGLE GOLD PROOF 1/2 OZ 1,137 +14
    18ED 2018 AM EAGLE GOLD PROOF 1/4 OZ 1,829 +56
    18EE 2018 AM EAGLE GOLD PROOF 1/10 OZ 7,049 +148
    18EF 2018 AM EAGLE GOLD PROOF 4-COIN SET 4,829 +30

    18EJ 2018 AM EAGLE PLATINUM PROOF 1 OZ 9,702 +27

    18EL 2018 AM BUFFALO GOLD PROOF 1 OZ 8,247 +2,009

  14. cagcrisp says

    Wow Wow Wow…Look at the Returns…(Or cancellations)…

    18CA 2018 WWI CENTENNIAL SILVER PROOF 47,096 + 489
    18CB 2018 WWI CENTENNIAL SILVER UNC 17,968 + 170

    18CC 2018 WWI CENTENNIAL COIN & MEDAL – ARMY 14,599 (452)
    18CD 2018 WWI CENTENNIAL COIN & MEDAL – AIR SERV 11,434 (596)
    18CM 2018 WWI CENTENNIAL COIN & MEDAL – NAVY 11,311 (588)
    18CN 2018 WWI CENTENNIAL COIN & MEDAL – MARINES 11,590 (565)
    18CP 2018 WWI CENTENNIAL COIN & MEDAL – COAST GRD 8,672 (699)

  15. cagcrisp says

    18CE 2018 BREAST CANCER GOLD PROOF 9,019 +26
    18CF 2018 BREAST CANCER GOLD UNC 3,866 (5)
    18CG 2018 BREAST CANCER SILVER PROOF 27,259 +300
    18CH 2018 BREAST CANCER SILVER UNC 10,302 +67
    18CJ 2018 BREAST CANCER CLAD PROOF 15,355 +108
    18CK 2018 BREAST CANCER CLAD UNC 9,234 +57

  16. cagcrisp says

    17XA 2017 AM LIBERTY 24K GOLD 1 OZ 28,482 +37
    17XB 2017 AM LIBERTY SILVER MEDAL (P) 54,912 –
    17XC 2017 225TH ANN ENHANCED UNC SET 210,418 –
    17XD 2017 AM LIBERTY SILVER 4-MEDAL SET 30,720 +47

  17. So Krates says

    Like does it really matter if the gold is in Ft.Knox? As long as you still think your coins are in your box you’re good.

    It’s a good thought experiment but IMO viewing still images (no matter how good) vs.holding a coin is no contest. It’s almost like looking at images of a naked woman and holding her…both are fun but

  18. Sith says

    Buzz Killington – I guess that is one way of putting it. BTW I have a nice picture of a bridge in Brooklyn :-). I don’t have coins that valuable that they need to be locked up, but saying that I buy ATB silver quarters, and have them in a nice album. Its a lot easier than breaking out the actual ATBs 5oz coins. I always said the same thing about diamonds. Why buy them when a cubic zirconia looks the same?

    So Krates – Hear, hear! How about collecting giclées, rather than actual paintings.

  19. So Krates says

    To be fair I think it was Ryan maybe who was big on Rhodium. earthling wrote about it but didn’t seem like he ever pulled the trigger. I was negative just because the market’s so damn thin. Not only is the Kitco spot price bid/ask spread $150, but if one can manage to get a local bid round here it’s $300 under that (bid)! So if one buys a Baird 1 oz Rh bar for spot plus $50, and sells 5 minutes later for $500 less, it’s almost like buying a USM product 🙂 Once in a great while you might make money, but at least the Mint trinkets are fun to look at and hold.

    If anyone knows a cheaper way to buy (and sell) a small amount of Rhodium let us know.

  20. So Krates says

    But giclees of werkz done in my favorite medium, tempera, just don’t cut it 🙁

  21. cagcrisp says

    I see something Odd is the weekly sales report…

    The 2017 Uncirculated 1 oz. Silver (+5,841 to 152,577) for some reason is garnering a great deal of demand.

    The 2018 Uncirculated Silver goes on sale in two days, however, I’ve Not seen this kind of interest on a 1 year old coin in quite some time.

    The last 4 weeks, sales has been quite Strong.

    I just wonder IF the Mint has tipped the Big Boys to ending sales on the 2017

    Much like what happened in 2017 when the 2017 Uncirculated 1 oz. Gold was pulled Early…

  22. Buzz Killington says

    I rarely Laugh out Loud, but I did (a little) when reading the comparison of a naked woman. I could further complicate the analogy by saying there are some women who are better appreciated from imagery than the real thing, but I don’t know how that plays out.

    I like fooling around with gray market items as much as the next guy — buying something obscure, and trying to sell it for more to someone in the know. Which is why, btw, that I was against purchasing Rhodium back in the trough. First, I don’t know enough about what Rhodium looks like to know if what I’m buying is real, and there are not many places to sell. So I don’t regret missing that boat. I still think one could make far more money in the stock market without the hassles.

    This thought experiment goes back to an article I read in some coin publication. The gist of which was, you can get a high quality reproduction of the Mona Lisa anywhere, but the Louvre is still crowded with people trying to get a tiny glimpse of the real thing because of history. I think it is possible to get on the other side of this logic.

    Nevertheless, I do appreciate the feeling a small one ounce gold or platinum round in my hand. I do feel a sense of history, and how our primitive forerunners would conclude there is something special about such a dense metal.

    When it comes to rainbow toned proof seated dollars, I think looking is much better than touching.

    At the present, although I like browsing through pictures of my safe-deposit-box stash, I have not considered assembling a similar collection of interesting coin images that I do NOT own. So, for me, the thought experiment continues, but so does my collecting.

  23. Sith says

    @Buzz Killington

    Food for thought is no substitute for the real thing. – Walt Kelly

    Saying that, if a photo of something was the same as owning it , their would still be a print version of Playboy 🙂

  24. Daveinswfl says

    Good to see y’all came back to post…very enjoyable !
    SoKrates – ya just HAD to go there, eh? Just a great analogy 😁. Didn’t LOL, but sure did smile upon reading that!
    Wish I had the money to buy old proofs because if you’ve ever seen one of the classics in Proof, I think everyone would want them. Just so classy!

  25. Jerry Diekmann says

    cagcrisp – With all these negatives for the WWI coin and medal sets, I think it is sfe to say that the Mint’s decision to force collectors to buy the fugly looking coin in order to buy a mediocre looking medal was one of the worst of several bad decisios the Mint has made over the last several years. For me, I usually try to buy the commemorative coins but I balked at this purchase because the coin itself is so ugly, so I didn’t add this coin to my collection and so it will be forever “incomplete”. And that’s OK – I never bought the 1991 Korea coin (38th anniversary?!?!?!) or the Special Olympics 1995 dollar, or going back to the “classics” the horrible Wahington-Carver half dollar from 1951-54, which convinced the U.S. Treaszury to stop minting commemorative coins.

  26. cagcrisp says

    @Jerry Diekmann, At the time of Issue I commented how I thought it was a Brilliant Idea for the Mint to make a bundle of the WWI coin and the medal sets.

    I still Think the same way

    The WWI Proof coin sold Originally for $51.95 so you were paying a net of $48.00 for the medal

    Total Mintage Limit of 100,000 (across All options) for the Medals x $48.00 = $4,800,000

    The Mint would have Never Sold 100,000 under any circumstance

    As of today Total revenue for the medal bundles is $ $5,757,719.70

    …SO…By forcing the “bundle” the Mint managed to bring in ~ $ 1 Million More in Revenue

    …AND…The Mint limited the mintage to more Secondary market friendly number for the Medals than Would have been Sold @ $48.00 or $51.00 or whatever…

    …SO…For me, it was a Win Win for the “collector” and the Mint

    The Mintage on the WWI was destined to be too High to ever have a Secondary Market worth mentioning…

  27. So Krates says

    Was at a show a few days ago and prices were SOFT.

    Multiple dealers offering:

    – BU St. Gs for melt.
    – Proof Buffs for spot plus $20
    – 90% for melt

  28. earthling says

    Đarn I want a Coin from 1795 or maybe even a 1793 or 1794 , really bad. But seeing how the Market is so soft I got to hold off. Paying X today and ending up with a big decline in value over a few years just isnt for me. But in a Depression where do you go to pick up Coins in trade for a Can of Beans?

    Maybe I better just collect freeze dried foods and barrels of Water.

  29. Buzz Killington says

    Based on @cag’s analysis, I think money is moving out of the bullion market, so I’m not surprised prices are soft.

    I think they are likely to stay soft for awhile.

    At the very highest end of any kind of collectible, I think prices are stable, because the market, thin as it is, because this kind of piece attracts unusual (ultra-rich) buyers.

    I think the next couple years may present some good opportunities to pick up the Fractional Buffalos and the 2009 UHR for closer to spot than they’ve ever been. Those Fractional Buffalo mintages seemed tiny in 2008. Not anymore!

  30. cagcrisp says

    When looking at the Current Strength of the USD, remember that the USD Index is Heavily weighted against the EURO and in this case I Think it’s more about a Weak EURO vs. a Strong USD.

    I expect the USD to continue to Weaken When/If Italy gets it’s act together…

  31. cagcrisp says

    Wednesday AM Gold Fix $1,294.00

    Wednesday PM Gold Fix $1,289.00

    There WILL be a Mint Gold Reduction in Price this Afternoon…

  32. cagcrisp says

    Gold pricing has been Completed…

    Now…IF there was just something worth buying…

  33. Jerry Diekmann says

    cagcrisp – “…SO…For me, it was a Win Win for the “collector” and the Mint”. I just don’t see how this coin could ever be considered a win for the collector – it is just so ugly, and it should have been, and could have been, designed much better, especially since it commemorates a very important event in our country’s history. But I will never own the coin – the “eye appeal” to me is simply repulsive, like the Eunice kennedy 1995 dollar.

    And as a matter of principle I won’t buy an ugly coin in order to get a medal or coin that is not all that much better. With the declining interest in commemorative coins, plus the large premiums the Mint charges, I would think that the Mint might want to reconsider its marketing policies, which I think turn off more people than they would ever attract.

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