1851-O Coronet $20 double eagle from Newman Collection resurfaces, sells for $17,625: Market Analysis

Coin World's latest Market Analysis is focused on coins that were once part of the Eric P. Newman Collection
By , Coin World
Published : 08/18/15
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The various sales by Heritage Auctions of the collections of St. Louis numismatist Eric P. Newman started in 2013. The auctions are amazing for their breadth across different areas of U.S. numismatics, and their depth within many different series. With the vast number of Newman coins coming to market — especially with their special Numismatic Guaranty Corp. grading inserts — it’s inevitable that they will turn up again.

Here is one of three Coin World is profiling this week that sold at Heritage’s Newman auctions in 2013 and 2014 and that have since returned to market. 

The Coin 

1851-O Coronet $20 double eagle, AU-58 CAC

The Price

$17,625

The Story 

The Eric P. Newman provenance is one that is a double-edged sword in the marketplace. It’s a positive because, obviously, Newman amassed a great collection. But it is also problematic in that it’s easy to track what a Newman coin sold for when offered at Heritage’s various Newman auctions.

This 1851-O Coronet $20 double eagle was purchased by Newman in the mid-20th century from the estate of “Colonel” E.H.R. Green for $75. When offered at Heritage’s Newman V auction on Nov. 15, 2014, it was graded About Uncirculated 58 by Numismatic Guaranty Corp. with a green Certified Acceptance Corp. sticker indicating quality within the grade and sold for $15,275. After that sale it was sent to Professional Coin Grading Service, which noted the provenance Col. Green-Newman on the slab. Now graded PCGS AU-58 CAC it sold for $17,625 at a Feb. 26, 2015, Heritage auction, representing a modest profit for the winning bidder.

As an issue, the 1851-O double eagle is scarce because many coins from the mintage of 315,000 coins were melted, and high-end About Uncirculated examples are rare.

Keep reading this Market Analysis: 

1847 Seated Liberty half dollar from Newman Collection has seen all sorts of price tags

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