1916 Doubled Die Obverse 5-cent coin realizes $253,000

Legend-Morphy reports results of July 18 auction in Las Vegas
By , Coin World
Published : 08/11/13
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A 1916 Indian Head, Doubled Die Obverse 5-cent coin was sold July 18 in Las Vegas, Nev., by Legend-Morphy Rare Coin Auctions, for $253,000, the fourth-highest price paid at auction for a Mint State example.

The example was offered during the firm’s Regency Auction IV, which was held in conjunction with the Professional Coin Grading Service’s Members Only Show.

The coin is certified PCGS Secure MS-64, and stickered by Certified Acceptance Corp. with a green sticker.

The price realized includes a 15 percent buyer’s fee and the closing hammer price of the lot.

The highest price paid for a Mint State example of the Doubled Die Obverse variety was $316,250 for a PCGS MS-64 coin sold Nov. 15, 2007, during Bowers & Merena’s Baltimore sale. That record price also includes a 15 percent buyer’s fee.

The doubling on the coin is most apparent at the date, with the top two-thirds of the 16 and top one-third of the 19 the most visibly doubled elements. The bottom portions of the doubled numerals, however, are quite weak or missing.

The Indian’s chin and throat, and the feathers and tie on his braid, also exhibit doubling.

Total auction results

The Regency Auction IV brought total prices realized for the 380-lot sale to $2,987,820.75. Of the total lots offered, 341 lots, or 89.7 percent, were reported sold.

Legend-Morphy partner Dan Morphy said he “was more than pleased with the sale and results. Lot preview was very strong with nothing but positive feedback on the catalog. Laura did a phenomenal job putting together a fresh grouping of exceptionally clean coins. We met a lot of new bidders and buyers, and are already looking forward to putting together a banner sale for December.”

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