1873-CC No Arrows dime tops $1 million

Unique coin star of Battle Born Collection auction
By , Coin World
Published : 08/14/12
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The 1873-CC Seated Liberty, No Arrows dime broached the $1 million level for the first time when it was sold during Stack’s Bowers Galleries’ auction of the Battle Born Collection Aug. 9.

The unique dime realized $1.84 million with the 15 percent buyer’s fee during the official auction of the American Numismatic Association World’s Fair of Money in Philadelphia.

The coin sold to an anonymous buyer who wished not to disclose any details of his collecting habits, according to Brian Kendrella, director of operations for Spectrum Group, parent company to Stack’s Bowers Galleries. Kendrella placed the winning bid on behalf of the buyer, who placed his bid through Kendrella by telephone.

Bidding had opened three to four weeks previously at $1 with no reserve on the lot, reaching $950,000 by the time live bidding on the floor was opened.

The first bid on the floor, for $1 million, was placed by Nevada dealer Rusty Goe, who in July 2004 purchased the coin for $891,250. Goe also sold the coin to the anonymous owner of the Battle Born Collection.

During the Aug. 9 auction, bids then were placed, back and forth, at $100,000 increments, with Kendrella and another Stack’s Bowers representative handling phone bids. Goe dropped out after his $1.2 million bid was eclipsed. Also bidding on the floor was California dealer Kevin Lipton.

The bidding closed at $1.6 million.

Kendrella said the buyer was an “important client” of Stack’s Bowers buying “an important coin.”

The winning bidder was among several collectors who expressed interest in the unique coin in the days leading up to the Aug. 9 auction after seeing how high the pre-bidding had gone, according to Kendrella.

The coin is graded Mint State 65 Secure by Professional Coin Grading Service.

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