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Rare New 1795 Reeded Edge Cent Discovery
By Bowers and Merena

Official Auction of the Baltimore Coin and Currency Convention Realizes More Than $6.2 Million

Bowers and Merena Auctions, America’s leading rare coin and currency auction house, wraps up 2008 with their final auction of the year, the Official Auction of the Baltimore Coin and Currency Convention held November 18-22, 2008, at the Baltimore Convention Center. The auction realized a total of $6,280,880.

The undisputed highlight of the auction was an exciting new discovery coin, lot 1143, an exceedingly rare 1795 S-79 Reeded Edge Liberty Cap Cent, one of just six pieces known to exist and the only example certified by PCGS or NGC. This 1795 S-79, Rarity-7+, Reeded Edge, graded Good-4 by PCGS and mounted in a special PCGS holder that allows easy viewing of the edge, was the subject of very lively floor bidding that brought it to the impressive realized price of $402,500.

"The sale of this lot was really one of my favorite auction moments of the year," said Steve Deeds, president of Bowers and Merena.

"We opened bidding at $70,000 and the floor just took off. It stalled a bit at about $180,000, and then just kept going, and finished with the room erupting in applause – it really was exciting to be there and watch it happen.

Everyone involved, including the buyer and consignor, are very pleased with the result, and this is a coin that won’t soon be forgotten."

Top honors also go to lot 1704, a 1920-D Buffalo Nickel graded MS-67* by NGC that realized $138,000, from the Yankee Collection of Buffalo Nickels. NGC Census shows a population of just two with none finer either with or without a * designation, and PCGS has yet to certify a single example higher than MS-66.

Also noteworthy is lot 1137, a 1793 Wreath Cent, S-8, Rarity-3- with Vine and Bars Edge graded MS-63 BN by PCGS, and also possessing the CAC designation, which realized an extraordinary $115,000.

Additional coin and currency highlights
Lot 1143 1795 Liberty Cap Cent. S-79. Rarity-7+. Reeded Edge. G-4 (PCGS). $402,500

Lot 1704 1920-D Buffalo Nickel. MS-67 * (NGC). $138,000

Lot 1137 1793 Wreath Cent. S-8. Rarity-3-. Vine and Bars Edge. MS-63 BN (PCGS). CAC. $115,000

Lot 2016 1841 Seated Liberty Quarter. Briggs 4-B. Proof-61 (PCGS). $92,000

Lot 4641 1907 Indian Eagle. Judd-1774/1901, Pollock-1995. Rarity-3. Wire Rim. MS-65 (NGC). $68,005

Lot 2092 1919-D Standing Liberty Quarter. MS-66 FH (PCGS). $57,500

Lot 4234 A Complete Set of 1997-W through 2007-W Platinum Eagles. Proof-70 Deep Cameo (PCGS). $52,325

Lot 2442 1920-S Walking Liberty Half Dollar. MS-66 (PCGS). $50,600

Lot 2441 1920-D Walking Liberty Half Dollar. MS-66 (PCGS). $48,300

Lot 6024 Scotland. George III (1760-1820). Glasgow, Lanarkshire. WG & Co. 4 Shillings, 9 Pence $40,250 Counterstamp on a U.S. 1795 Flowing Hair, Two Leaves Silver Dollar. Counterstamp Undated (1820-1821).

Lot 1167 1856 Braided Hair Cent. N-5. Rarity-5-. Slanted 5. Proof-66 RB (PCGS). CAC. OGH. $37950

Lot 2438 1919 Walking Liberty Half Dollar. MS-67 (PCGS). $32,200

Lot 1717 1924-S Buffalo Nickel. MS-66 * (NGC). $31,050

Lot 3044 1925-S Peace Silver Dollar. MS-65 (PCGS). OGH. $29,900

Lot 5466 Fr. 1199. 1913 $50 Gold Certificate. PCGS Gem New 65PPQ. $28,175

Lot 5976 Japan. Tokugawa Iyemochi Shogunate (1858-1866). Gold and Silver Oban. Undated $26,450 (Manen Era, 1860-1861). Machine-Made Horizontal Crenulations.

Lot 1978 1942/1-D Mercury Dime. FS-101 (FS-010.8). MS-65 FB (PCGS). $25,875

Lot 5666 Tombstone, AZ. $10 1902 Plain Back. Fr. 628. The FNB. Charter #6439. Fine. $25,875

Lot 1711 1923-S Buffalo Nickel. MS-66 * (NGC). $25,300

Lot 1740 1927-D Buffalo Nickel. MS-66 (NGC). $23,000

Lot 2528 1942 Walking Liberty Half Dollar. MS-68 (PCGS). OGH. $23,000

Lot 4314 1827 Capped Head Left Quarter Eagle. BD-1, HBCC-3025, the only known dies. $23,000 Rarity-5. AU-58 (NGC).

Lot 5388 Fr. 824. 1915 $20 Federal Reserve Bank Note. PCGS Gem New 65PPQ. $22,425

Lot 4711 1863 Liberty Double Eagle. MS-61 (NGC). $21,850

Lot 1146 1796 Draped Bust Cent. S-119. Rarity-3. Reverse of 1797. MS-63 BN (PCGS). $21,275

Lot 2444 1921-D Walking Liberty Half Dollar. MS-65 (PCGS). $21,275

Lot 4457 1802/1 Capped Bust Right Half Eagle. BD-4, HBCC-missing, Miller-49. Rarity-7. MS-62 (PCGS). $20,700

Bowers and Merena will continue their longstanding association with the Baltimore Coin and Currency Convention into 2009 and beyond with three more official Baltimore auctions in 2009.

Prices realized for all lots in the Bowers and Merena Official Auction of the Baltimore Coin and Currency Convention are available online at www.bowersandmerena.com.

Bowers and Merena’s next auction will be held January 4, 2009, in Orlando, Fla., prior to the FUN Convention, followed by an online Collector’s Choice Auction based in their Irvine, Calif., headquarters January 26 to February 4. Complete lot viewing and auction schedules are available at www.bowersandmerena.com and catalogs will be available in print and online by early October.

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