The following is a release from Heritage Auctions:
Celebrating a 20-year tradition, Heritage Auctions has awarded a Mint State 1907
High Relief double eagle to Ken Conaway, of Ohio, as the Grand Prize
in its annual numismatic survey. The classic American numismatic
rarity was certified by Numismatic Guaranty Corp. as MS-60 Wire Rim,
estimated to be valued at about $12,500.
Conaway is a longtime Heritage Auctions member who started his
serious numismatic collecting with certified Morgan Silver Dollars.
Some seven years ago, he moved to collecting U.S. Government silver
ingots. Today Conaway’s U.S. Government ingot collection rivals any
ever assembled privately, and he attributes much of his collection
success as well as research results to Heritage Auctions.
Working with Mark Van Winkle, Heritage Auction’s Chief Cataloger,
Conaway has validated ingots as well as provided description details
for auction listings. His research of U.S. Government silver ingots
relies heavily on the Heritage Auction archives available on HA.com,
calling it a vital tool in his research. "Being able to look back
to the early 2000s and study each of the ingots sold by Heritage
Auctions in the last great collection – that of Alan Bingel – is
absolutely priceless," Conaway said.
The prize in Conaway’s collection is an 1892 U.S. Assay Office New
York silver ingot, the oldest dated government ingot known in
existence which he won, bidding in person, at Heritage’s ANA Signature
Auction in Chicago last year.
Additional prizes awarded in the annual numismatic survey include:
- First place, five winners may auction up to $100,000 at 0%
- Second place, 10 winners may auction up
to $50,000 at 0% sellers commission.
- Third place, 10
winners may have a Heritage Auctions representative review their
collection, give professional current market evaluation and have up
to 30 coins certified by PCGS or NGC at Heritage’s expense.
The Grand Prize 1907 High Relief Double Eagle is considered by many
collectors as the most beautiful American coin ever minted. President
Theodore Roosevelt, sharing his desire to improve the aesthetic
qualities of America’s coinage, personally selected sculptor Augustus
Saint-Gaudens to create a new coin that would reflect American ideals.
However, as collectors quickly learned, production problems (multiple
blows were needed for full striking) and stacking problems in banks
limited the commercial use of the High Relief design, and only 12,367
Reduced-relief versions of Saint-Gaudens’ basic design, with the
date changed to the Arabic numerals “1907”, were produced for the
remainder of the year. The High Relief rarity is on most collectors’
want list, and examples are avidly pursued wherever they appear.
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