The following post is pulled from Coin World editor Steve
Roach’s Market Analysis column in the Nov. 17 issue.
auction of the Eugene H. Gardner Collection of U.S. Coins took place
in New York City on Oct. 27 and totaled nearly $14 million. The first auction of
his collection earlier this year brought nearly $20 million and there
are two more auctions to go.
Gardner’s goal in pacing
the sales was to allow bidders the chance to buy coins for their
specialty without “breaking the bank” as might happen if a series was
presented in its entirety in a single sale.
Here is one
of three Coin World profiles of Standing Liberty quarter
dollars from Gardner II that found new homes.
coin: 1917 Standing Liberty quarter dollar, Type 1, Uncirculated
details, improperly cleaned
The story: This quarter is fascinating
because it was once thought of as a Proof by Walter Breen, an expert
who dominated numismatic research in the 1970s through early 1990s.
When offered at a March 1996 Stack’s Bowers auction, this coin was
accompanied by a Breen letter authenticating it as a Proof striking.
No Mint records confirm the production of Proof 1917 Standing Liberty,
Bare Breast quarters (Type 1), but Breen noted the raised edges (or
“fins”), sharp details and rich, satiny texture and characterized it
as a Proof.
Both Numismatic Guaranty Corp. and Heritage believed
that the piece is a business strike intended for circulation, and the
unusual quarter, in an NGC Uncirculated Details, Improperly Cleaned,
holder brought $646.25. That price, while a fraction of what it would
bring if an authentic Proof, is still an impressive price considering
that typical examples in this grade sell at the $200 level generally.
Read more of the "Gardner's Standing Liberties" analysis:
1927-S quarter tops $175,000 at auction
example among 'solid' coins, good for its grade
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