US Coins

1851-O Coronet $20 double eagle from Newman Collection resurfaces

An 1851-O Coronet $20 double eagle switched from an NGC holder to a PCGS holder between its offering in Newman V and a subsequent 2015 Heritage auction.

Courtesy of Heritage Auctions

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


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: 

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