A Newman Collection Indian Head cent sold for only $42?
- Published: Nov 24, 2014, 8 AM
The following post is pulled from Coin World editor Steve Roach’s Market Analysis column in the Dec. 8 issue.
A collection as extensive as St. Louis numismatist Eric P. Newman’s has more than its share of top-tier rarities, but it also contains many other coins that are more ordinary. Heritage’s recent Nov. 14 and 15 auctions for the Eric P. Newman Numismatic Educational Society provided collectors a chance to buy a coin with a sensational provenance, at little or no premium to what an unnamed coin might bring.
The coin: 1906 Indian Head cent, Uncirculated Details, Reverse Damage
The price: $42
The story: The Newman Collection with its subsequent auctions has something for absolutely every budget, and like the other Newman auctions, the Nov. 14 and 15 auctions had many affordable coins. This sale had more than 20 coins that sold for less than $100 each. The least expensive was a 1906 Indian Head cent graded Uncirculated Details by Numismatic Guaranty Corp., but with reverse damage. Among Indian Head cents, it’s hard to find one that’s more common than a 1906 piece.
Heritage lavishes the same attention on its description of this relatively humble coin as it would on a more notable coin, writing, “this example was struck from a fresh die pair, as evidenced by the semiprooflike fields and sharp design definition. The obverse is primarily orange-gold, with a few tiny cherry and olive accents,” before noting the few shallow scrapes on the reverse, “though these are well-masked by deep burgundy toning.”
Still, to get a coin from a great collection — certified no less — for around the price of a solid About Uncirculated example is a great opportunity to connect a collection to history.
Read the rest of Steve Roach's market analysis:
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