Extremely Rare 1907 $20 Gold Coin Soars to Over $2.7 Million in a Stack’s …
IRVINE, Calif. –The finest-graded citation of America’s “most beautiful coin,” the MCMVII (1907) Proof Ultra High Relief double eagle graded Proof-69 by PCGS, crossed the auction retard on the dusk of Friday, Jun 29, 2012, and with the tumble of the produce a cost of $2,760,000 had been won at the Stack’s Bowers Galleries Official Auction of the Whitman Coin and Collectibles Expo in Baltimore, Md. Stack’s Bowers Galleries is a auxiliary of Spectrum Group International, Inc. (SPGZ.PK) (“SGI”).
The coin, minted in 1907, has the date voiced in Roman numerals as MCMVII. It is one of about 20 coins with Ultra High Relief or sculptured detail. The story goes behind to President Theodore Roosevelt in 1905 when he employed Augustus Saint-Gaudens, America’s most famous sculptor, to redesign the coinage. The artist, operative in his studio in Cornish, N.H. (now a National Historic Site), began with the $20 bullion double eagle, the largest description bullion coin.
For the obverse he created a confidant picture of Miss Liberty in the figure of Victory, striding brazen holding a flame and palm bend with the U.S. Capitol in the distance. For the reverse, an eagle in moody was sculpted. In early 1907 about 20 coins were struck at the Philadelphia Mint and given to the boss and dignitaries. Later in the year the same pattern was mutated to reduce service and 12,367 were struck.
Today, several of the MCMVII Ultra High Relief coins are in museums including one on display at the Smithsonian, and time and again surveys among numismatists have rated this as America’s most beautiful silver design. Only frequency is one accessible at auction. The silver auctioned now non-stop at $2,125,000 and the room enjoyed vehement behest competition. This silver is deliberate one of the great icons of American numismatics, the instance is the excellent graded citation known.
Steve Contursi, boss of Rare Coin Wholesalers from Irvine, Calif., purchased the silver around phone participation. He is in 50/50 percent partnership on the silver with Don Kagin, boss and owners of Kagin’s Inc. Contursi and Kagin are no strangers to purchasing the finest, rarest and most profitable coins in the world. Seven years ago they partnered on the singular 1787 Brasher Doubloon, America’s initial bullion coin, which was sole Dec 2012 for $7.4 million.
“This silver now ranks as No. 7 in the tip 10 prices satisfied at auction,” said Chris Napolitano, boss of Stack’s Bowers Galleries. “The all-time record for a silver sole at auction is $7.59 million when we partnered with Sotheby’s to sell the only 1933-dated $20 Saint-Gaudens double eagle ever to be auctioned.”
“We are intensely vehement about owning this excellent graded citation of one of America’s most fascinating coins,” settled the new owners. “It combines all the elements of rarity, desirability, artistic pattern and chronological importance. President Theodore Roosevelt wanted to obey the beautiful high service of the ancient Greek coiners by bringing in the universe eminent sculptor Augustus Saint-Gaudens and he achieved just that.”
The subsequent auction for Stack’s Bowers Galleries is now estimated at $40 million and as the Official Auctioneer of the American Numismatic Association World’s Fair of Money in Philadelphia from Aug 2 by Aug 12. Highlights from this eventuality will be exhibited to the open at the Stack’s Bowers gallery in Manhattan and in the Irvine, Calif., corporate domicile during the final weeks of July. For some-more information on this and previews of arriving auctions, greatfully revisit www.stacksbowers.com.
About Stack’s Bowers Galleries
Stack’s Bowers Galleries, a multiplication of Fortune 500 Company Spectrum Group International Inc. (SPGZ.PK), was launched in Jan 2011, mixing the unusual histories of Stack’s, the oldest singular silver auction and sell association in America, with Bowers and Merena Auctions, one of the world’s earlier auctioneers of singular coins and paper money. The dual companies combine to share a total bequest that spans some-more than 100 years, and includes the cataloging and sale of many of the most profitable collections to ever cranky an auction retard – the John. J. Ford, Jr. and Louis E. Eliasberg, Sr., collections, the Harry W. Bass, Jr., Collection, and the Norweb Collection, to name just a few. Topping off this amazing numismatic story is the inclusion of the universe record for the top cost ever satisfied at auction for a singular coin, the mythological 1933 Saint-Gaudens Double Eagle that satisfied an strange $7.59 million (sold in partnership with Sotheby’s). The association is headquartered in Irvine, California, with offices in New York, New Hampshire and Hong Kong. Stack’s Bowers Galleries is the Official Auctioneer for several important numismatic conventions, including the ANA World’s Fair of Money and ANA/PNG Pre-Show auctions, and the Whitman Coin and Collectibles Expos in Baltimore, 3 times yearly, and also Philadelphia.
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