Morgan dollars highlighted Legend Rare Coin Auctions’ Regency Auction XI,
held Feb. 19 in Las Vegas, Nev.
The select auction of 352 lots was held in conjunction with the Professional Coin Grading
Service Members Only Show at The
Laura Sperber, a partner in Legend Auctions, characterized the sale
as spectacular, writing on her blog: “We are officially the
auction firm of gorgeous toned Morgans. No question, between this sale
and the Sunnywood/Simspon sale, we created more huge price records
then anyone ever! This sale brought results for colored Morgans way
beyond our wildest expectations.”
Among the most dramatic coins in the auction were some from David
Hall’s collection of toned Morgan dollars. Hall is the founder and CEO
of Collector’s Universe, parent company to PCGS, and the offering
represented his lifelong collection of Morgan dollars.
The catalog added that as a top buyer of rare coins for decades,
“His resources and access are virtually unequaled, and his inner
collector always emerged whenever he would see a gorgeously toned
Morgan. If the color and quality were there, he paid the price, and
these are anything but marginally toned coins.”
Legend graded each coin’s color on a scale of one to 10.
A “10” was lot 153, an 1880-S Morgan dollar graded PCGS Mint State
65, with a green Certified Acceptance Corp. sticker indicating
quality within the grade, that sold for an astounding $10,868.75,
flying past the estimate of $1,500 to $1,750. The coin was described
as “Incredibly high-end quality and intense, electric gem bag toning!”
For comparison, lot 152, another PCGS MS-65 CAC 1880-S dollar, was
rated “9” and sold for $499.38 against an estimate of $1,000 to
$1,100. It had toning that surrounded Liberty’s profile, creating an
almost cameo type of effect.
Typical untoned, brilliant PCGS MS-65 CAC 1880-S Morgan dollars sell
for $150 to $170, based on recent auction results.
One of the most gorgeous coins was lot 175, an 1882-S Morgan dollar
in PCGS MS-65 CAC that sold for $14,100 against an estimate of $2,500
to $2,750. The coin was rated a 10 and the catalog gushed: “You don’t
get much better than this! This high-end gem is truly out of this
world and has to be seen to be believed!” The image in the catalog
shows a rich blanket of jewel tones on the obverse, with just light
toning on the reverse.
Some of the coins had been purchased by Hall relatively recently,
such as lot 183, an 1884-O dollar in PCGS MS-66 CAC that had sold for
$2,937.50 at Legend’s October 2014 sale of the Sunnywood Simpson
Collection of toned Morgan dollars. With color rated “9” and this time
carrying an estimate of $2,250 to $2,500, it sold for $4,112.50.