Insights

One ANA show, two competing auctioneers: Stack's Bowers and Heritage both hosting official auctions

Market Analysis column from July 7, 2014, issue of Coin World
By , Coin World
Published : 06/24/14
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For the first time in many years, the American Numismatic Association has two official auctioneers for its World’s Fair of Money in Rosemont, Ill.: Stack’s Bowers Galleries and Heritage Auctions

The ANA is selling both firms to potential consignors via letters signed by ANA Executive Director Kim Kiick, and both firms are aggressively courting consignors. 

In her letter promoting Heritage, dated May 23, Kiick writes, “One cannot help but be impressed by their long-distinguished and unparalleled record of service (44 prior Official ANA Auctions!) to the ANA.” 

She says, “When I make important selections in my life, I look for quality, service and experience,” adding, “You have probably heard the old axiom about not picking the low bidder for your brain surgeon — well, you definitely want one with fine credentials, great experience, an excellent success rate, and one that uses the latest technologies to provide optimal results.” 

In her letter promoting Stack’s Bowers, received at Coin World’s offices on June 17, Kiick reminds readers that one of the parent companies of Stack’s Bowers Galleries — Stack’s — conducted its first ANA convention auction in 1939. She adds, “Superb personal service combined with the utmost in numismatic expertise is the foundation on which this family business was built in 1933.” She then advised potential consignors, “You can depend on Stack’s Bowers Galleries to provide you with honesty, professionalism, integrity, personal service, scholarly expertise, and financial security.” 

Beyond the breathless praise lavished on both firms are dozens of hardworking consignment directors at Heritage and Stack’s Bowers seeking material in the U.S. coins, world coins and paper money categories to fill multiple major auctions. 

Heritage’s auctions from Aug. 6 to 11 include a group of exceptional gold double eagles from the Charles G. Wright Family Collection led by the Aug. 7 Platinum Night offering of an 1861 Coronet, Paquet Reverse double eagle graded Mint State 61. It is one of just two known and last sold at a 2006 auction for $1.61 million.

Stack’s Bowers’ auctions from Aug. 6 to 10 will be led by the T. Harrison Garrett example of the Class III 1804 Draped Bust silver dollar. It will be offered during the firm’s Aug. 8 Rarities Night sale. It’s graded Proof 55 and is one of 15 1804 dollars known. A different Class III 1804 dollar graded Proof 58, the Adams-Carter example, brought $2.3 million at a 2009 auction. 

Beyond these seven-figure headliner lots will be thousands of more “normal” coins. Between the two firms with their aggressive marketing campaigns, $100 million in auctions is possible. It will be an exciting week!

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