Two coins representing different ends of the condition spectrum
topped Heritage’s nearly $10 million Nov. 2 to 4 U.S. Coins auction in
Dallas. Representing the upper range, the top lot was a 1900 Coronet
gold $20 double eagle graded Proof 66+ Ultra Cameo by Numismatic
Guaranty Corp., selling for $156,000. Near the bottom of the spectrum
was a 1792 Silver Center cent pattern, with its silver plug somewhat
crudely replaced with a plug made of iron at some time during its
history. The unusual pattern, among the earliest products of the U.S.
Mint and graded NGC Very Good Details, Plug Replaced, Repaired,
Scratched, sold for a still impressive $78,000.
Here is one of three Liberty Head 5-cent pieces that impressed
bidders in Dallas:
1912-S Liberty Head 5-cent piece
The 1912-S Liberty Head 5-cent coin got some bad publicity last year
when several original Mint State rolls entered the market, and
populations at PCGS shot up, seemingly overnight. When it was
suggested that grading services were artificially increasing
populations by overgrading, PCGS President Don Willis wrote,
“populations rarely go down. There are always hidden collections,
accumulations or hoards that come out,” before explaining that in
“2016 PCGS handled at least 2 fresh rolls of gem 1912-S 5c. These
rolls were handled by some of the most knowledgeable dealers in the business.”
Connect with Coin World:
Sign up for our free eNewsletter
Follow us on Twitter
The issue has a series low mintage of 238,000, and 1912 was the only
year that saw production of the coin at the San Francisco and Denver Mints.
Some ‘mule’ coins may not be mules at all
Also this week, although its low price makes counterfeit sales
less profitable, the American Eagle silver bullion coin's popularity
makes it a target.
The offered coin is one of just 36 graded MS-66 by PCGS, who has
graded only two MS-66+ and none finer. Many of the 1912-S “V nickels”
are relatively weakly struck and this one — while not fully defined —
is stronger than most. It sold for $3,600.