Summer FUN Auction Results

By Steve Roach
First published in the Aug. 2, 2010 issue of Coin World

The continued drought of major rarities in the auction marketplace was evident at the Florida United Numismatists summer show, held July 8 to 10 in Orlando.

Yet, despite absence of six-figure coins, the sale realized a healthy $7.39 million, although that number is bound to grow as Heritage counts after-auction sales in the total amount realized for an auction.

Eight bidders competed for a 1867 Shield 5-cent coin, graded Proof 65 Cameo by Numismatic Guaranty Corp. It sold for a healthy $57,500, although a similarly graded example crossed the auction block in January 2009 for $63,250.

Among the top lots were the usual pieces: rare early gold coins, 1907 Saint-Gaudens, High Relief double eagles and tough Proof gold.

But interesting collector coins did very well, too.

An About Uncirculated 53 1944-D Lincoln cent struck on a zinc-coated steel planchet realized $37,375, bringing more than the $32,200 realized when the same coin was last sold at the January 2010 FUN show auction.

Interestingly, the same consignor of the cent sold at the summer FUN show also sold an AU-55 example at a June Heritage auction for $60,375.

Some powerful coins went without buyers, including a 1907 Saint-Gaudens, High Relief double eagle in Mint State 67+, a 1930-S double eagle in MS-63 and a rare 1882 Coronet double eagle in AU-53. High consignor expectations that resulted in unmet reserves is the likely culprit, although post-auction buying may find new owners for some pieces.

A few modern issues did great, including a 2000-W Library of Congress ringed-bimetallic $10 coin graded NGC MS-67 that brought $4,887.50.

A Lincoln cent variety also had a big moment.

The finest Professional Coin Grading Service certified 1971 Lincoln, Double Die Obverse 1 cent, MS-66 red, brought $10,350. The price makes one wonder if this variety is destined for broader recognition.

It currently is left out of many major guide books, but its strong doubling and general availability – a PCGS MS-64 red example sold at auction in April 2010 for $862.50 – are both points in favor of moving it to the collecting mainstream.