new auction record has been reported for a Proof 1882 Trade silver dollar.
coin, graded Proof 67 ★ Ultra Cameo by Numismatic Guaranty
Corp., realized $50,400 in a Sept. 11 auction by Fox Valley Coin
Auctions in conjunction with the Illinois Numismatic
Association convention Sept. 11 and 12 in Tinley Park.
price realized in the 770-lot auction includes the 20 percent buyer's
fee added to the final closing hammer price of $42,000.
Sept. 11 auction record eclipses the $46,000 price realized in an
April 6, 2006, sale by Heritage Auctions for an NGC Proof 67 Ultra
Cameo 1882 Trade dollar, as numismatist P. Scott Rubin, who tracks
auction prices, confirmed. The 2006 price realized includes a 15
percent buyer's fee.
1882 Trade dollar was struck that year only in Proof; none were struck
for circulation. The reported production of 1,097 coins was executed
at the Philadelphia Mint.
Connect with Coin World:
to Marlon Mathre, owner of Fox Valley Rare Coins Inc., 26 individual
bidders competed for the 1882 Trade dollar in the firm's auction,
which closed Sept. 11. The coin was offered without a reserve price.
Mathre said via email Sept. 22 that the numismatic staff at Fox Valley
believes the Proof 1882 dollar that sold Sept. 11 "is the finest
known Trade dollar (At date of cataloging)."
added: "The coin was posted on line via Proxibid on June
26th. The opening bid was $1. It wasn't until July 23rd that it
finally reached $1,000. On August 23rd it finally broke the $10,000
mark. At this time the consignor was concerned his great coin wasn't
going to come through like he was hoping for. September 6th the
bidding plateaued at a nice round number of $30,000. The worried
consignor finally breathed a sigh of relief, 'he could tell his wife
it was a good purchase after all.'
day before the auction [closed] the coin was at $31,500, but by the
time the final hammer fell, there was a volley of bids that saw a
final realized price of $50,400 (including buyer's premium)!
we always say, 'It doesn't matter where the bidding starts, it's where
it ends up.'"
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