Rare Gold Coin Sells For $1,322,500 At Heritage Auctions Event

A rare gold coin that featured in the top lot of the August 11-12 Signature(r) U.S. Coin & Platinum Night Auction organized by Heritage Auctions fetched $1,322,500 when it went under the hammer at the Marriott-Chicago O’Hare. The coin in question was the one-of-a-kind 1855-S $3 PR64 Cameo NGC, CAC, from the Golden Gate Collection.

The auction that took place on Thursday and Friday last week, proved quite successful. The event raised over $31.345 million through 7,340 lots that brought in bids from 5,154 people. The sales volumes do not include post auction sales. 95 percent of the total lots were sold at a rate that covered 91 percent of the total lot value.

Greg Rohan, President of Heritage Auctions, said that every corner of the auction market is experiencing strong showings. He added that collectors continue to attend the auctions organized by Heritage to pick rare items. But he also said that even non-traditional buyers have begun to enter the arena in a bid to build investments that remain unaffected by the volatility in the financial markets. He added that the combination of attendance fro traditional and non-traditional collectors led to the high sales figures at the recent Signature(r) U.S. Coin & Platinum Night Auction.

Other high-profile lots at the auction included an 1893-S Morgan Silver Dollar, MS67 NGC, from the Norweb and Jack Lee Collections, which fetched $546,250 (the second highest sum at the auction) as well as an 1893-S Morgan Silver Dollar, MS67 NGC, also from the Norweb and Jack Lee Collections, which sold for $299,000. A fourth star at the show was the historic 1796 $2 1/2 No Stars MS61 PCGS, CAC, which fetched $276,000.

Via: Art Daily

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