Gardner Collection of Bust dimes analyzed in Nov. 2 issue of emailed JR Newsletter

Collector believes buyer of 1804 varieties got a deal
By , Coin World
Published : 11/04/14
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Draped and Capped Bust dimes in the Oct. 27 sale by Heritage Auctions of the Eugene Gardner Collection, Part II, are analyzed in the Nov. 2 issue of the digital JR Newsletter.

The weekly emailed newsletter is issued by the John Reich Collectors Society.

According to one collector who attended the sale: "Included in his collection was a group of some of the finest Draped and Capped Bust dimes available. It’s a rare treat to see so many wonderful coins being offered at one time. Overall, I thought that the Draped Bust coins sold for prices at my expectation except for the 1804 dimes that sold for less than I expected and the Capped Bust dimes selling for strong money."

One of the collector's insights concerned the sale of the JR-1 variety of 1804 Draped Bust dime, graded About Uncirculated 53 by Professional Coin Grading Service, and the 1804 JR-2 variety, PCGS AU-50.

"I can’t remember when both 1804 die marriages were offered in auction since the Price auction; and any time one example is offered it's considered special. Over the past year, there have been several JR-2s offered in auction, but Gene’s AU50 was the highest graded offered. Overall, the JR-2 has nice color with great details as its well struck. Both 1804 coins were sold for $125,375 to one collector and in my opinion he got a great deal! My pre-auction estimate had both coins selling for $90K each and I wouldn’t have been surprised if either one sold for as high as $125K."

To learn about the John Reich Collectors Society and its publications, visit the JRCS website. For information about the newsletter, email newsletter editor Richard Meaney.

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