Heritage Auctions recently held a big event in Long Beach, California, where they sold US coins and currency. This auction raised a whopping $22 million, with many rare items being sold at impressive prices. From special Federal Reserve notes to unique coins, this event attracted collectors and bidders from all over. In this article, we’ll look at some highlights from the auction, the most expensive items sold, and what makes them so valuable.
Auction Highlights
Total Sales and Key Items
The total amount raised during the auctions reached $22,131,446. This included more than $10 million from the US Currency Signature® Auction, led by a rare $5,000 1928 Federal Reserve Note. This note was graded as PMG Gem Uncirculated 65 EPQ, making it one of the finest examples of its kind.
Notable Coins Sold
Among the notable coins sold, the 1895 Morgan dollar broke records by selling for $269,500. Todd Imhof, Executive Vice President at Heritage Auctions, mentioned that while around 12,000 Morgan dollars were made, very few are still available today. This specific coin is one of just 880 Proofs ever struck, making it extremely rare.
Major General Alexander Macomb’s Gold Medal
Another exciting item was Major General Alexander Macomb’s Congressional Gold Medal, which sold for $240,000. This medal was awarded to Macomb for his service during the War of 1812 and is a unique piece of American history. Only a few of these medals were ever made, and Macomb’s was specially struck in gold.
Rare Half Eagles
One of the more unusual items was the 1909-O Indian Half Eagle, which sold for $216,000. This coin was made in very limited quantities, with only 34,200 struck. Collectors find this design fascinating because it is the only Indian half eagle made at the New Orleans Mint.
Noteworthy Sales
Here’s a look at some other impressive sales from the auction:
| Item | Year | Sale Price |
|---|---|---|
| 1907 Rolled Edge Eagle | 1907 | $186,000 |
| 1907 High Relief Double Eagle | 1907 | $168,000 |
| 1796 Capped Bust Right Quarter Eagle | 1796 | $152,400 |
| 1793 S-3 Cent | 1793 | $150,000 |
| 1797 Small Eagle Half Dollar | 1797 | $144,000 |
Currency Highlights
Rare Federal Reserve Notes
The auction featured a significant number of rare Federal Reserve notes. The $5,000 1928 Federal Reserve Note led the currency section, fetching an impressive $1,000,000. This note is particularly notable because only 22 of these notes are graded across all districts, making it one of the rarest.
Other Significant Currency Sales
| Note | Sale Price |
|---|---|
| $10,000 1928 Federal Reserve Note | $384,000 |
| $100 1863 Legal Tender Note | $216,800 |
| $5,000 1934 Federal Reserve Note | $192,000 |
Conclusion
The Heritage Auctions event in Long Beach showcased the incredible world of rare coins and currency, raising over $22 million in total sales. The auction featured not just high-value coins and notes but also pieces with deep historical significance. Items like the 1895 Morgan dollar and Major General Alexander Macomb’s gold medal highlight the connection between currency and American history. Collectors are always on the lookout for unique pieces, and events like this demonstrate just how valuable these items can be. With such high demand and limited supply, the world of numismatics (the study or collection of currency) continues to grow and attract new enthusiasts.
FAQ’s
What is Heritage Auctions?
Heritage Auctions is the largest fine art and collectibles auction house in the United States. They specialize in rare coins, currency, and other collectibles, hosting auctions around the world.
Why are some coins and currency so valuable?
The value of coins and currency is determined by factors such as rarity, condition, historical significance, and demand among collectors. Coins that are in mint condition and have limited production runs tend to fetch higher prices.
What was the highest sale at the Long Beach auction?
The highest sale at the Long Beach auction was the $10,000 1928 Federal Reserve Note, which sold for $384,000. This note is extremely rare, with only a few known to exist in the collector market.
How do I start collecting coins or currency?
To start collecting, begin by researching the types of coins or currency that interest you. Join collector groups, attend auctions, and purchase items from reputable dealers. It’s also helpful to read books or online resources about numismatics.
What is the significance of low serial number notes?
Low serial number notes are highly sought after by collectors because they are considered rare and unique. A serial number of 1 or other low numbers can significantly increase a note’s value due to their collectible nature.