The third installment of Stack’s Bowers Galleries and Sotheby’s auction of rare coins from the collection of Texas businessman D. Brent Pogue is set for Feb. 9 at Sotheby’s headquarters in New York City.
In total the first two sales have brought in excess of $50 million, with the last sale, held on Sept. 30, 2015, realizing an astounding $248,769 per lot for the 105 coins offered.
With 158 coins, the upcoming sale is the largest of the three Pogue sales. Two additional Pogue auctions are scheduled for 2016.
As David Redden, Sotheby’s vice chairman, noted in his catalog welcome, “For both past events the auction room was ‘live,’ the spirit buoyant, the atmosphere electric, punctuated with spontaneous applause many times. To have been there as a bidder, buyer, or observer was an experience that those in the audience will always remember,” adding, “I anticipate that Pogue Part III will continue this enthusiasm.”
Pogue Part III contains half cents, large cents, dimes, half dollars, gold $3 pieces and gold $5 half eagles.
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Precious early copper
The copper coins offered are all from the 18th century and include 11 half cents and five 1793 cents. One of the most handsome is a 1793 Flowing Hair, Wreath cent graded Mint State 67 red and brown by Professional Coin Grading Service.
Designated as Sheldon 9 in the reference to the series, it has the Vine and Bars edge and a surprising amount of rich Mint red color, especially on the obverse. As John Kraljevich wrote in the description, “This piece initially appeared in 1973, first handled by California coin shop proprietor Herman Engelhardt, who handled several important large cents during the era in which he flourished. While coins of this era found in Europe sometimes have no previous provenance within numismatic circles, those found in California have rarely been there since the 1790s, suggesting that this coin has some prior, if unknown, collector provenance.” It has an estimate of $400,000 to $500,000.
While the early ownership of this coin remains a mystery, its quality is undeniable and it is one of only three 1793 Flowing Hair, Wreath cents to have ever received a color designation other than brown by PCGS. A single example of the 1793 Flowing Hair, Wreath type is graded numerically finer: a PCGS MS-69 brown example that realized $481,750 at Stack’s Bowers Galleries’ 2013 American Numismatic Association auction.