Crossing the Block: Concluding our Second Annual Auction of Early American Coins in Cooperation with the Colonial Coin Collectors Club

Written by Vicken Yegparian, Vice President of Numismatics

Stack’s Bowers Galleries hosted its second annual auction of early American coins in cooperation with the Colonial Coin Collectors Club (C4) on the evening of Friday, November 8 in Baltimore. This sale continues a long tradition of auctions held by C4, starting at its First Annual Convention in 1995. The C4 auctions have historically featured specialized, named collections of colonial coins in addition to a smorgasbord of colonial type coins. This year’s auction was no different -- the session was composed of over 300 lots gathered from C4 members and Stack’s Bowers clients, highlighted by noteworthy specialized offerings such as the David M. Sundman Collection of the Silver Coinage of Massachusetts and the Richard Moore Collection of Fugio Coppers.

There was a standing room only crowd when the first lot of the evening fell under the auctioneer’s hammer, David Sundman’s beautiful NewEngland Shilling graded AU-55 by PCGS and boasting a pedigree that stretched back to before 1908. When the dust settled, this coin had brought an incredible $440,625 (all prices quoted here include the 17.5% Buyer’s Premium). Each and every one of Mr. Sundman’s hand-selected pieces of Massachusetts silver sold to its potential. The gorgeously toned and iconic Noe-1 Large Planchet Pine TreeShilling in MS-62 (PCGS) received a boost by a short speech by Q. David Bowers detailing how the Noe-1 Pine Tree Shilling is his and other hobby luminaries’ favorite variety of Massachusetts silver. With bidding having slowed in the mid $30,000 range, Dave’s impromptu, mid-lot speech blew wind in the sails of this Noe-1, which sold for nearly $50,000 amid much applause and a roar of laughter!

After the Sundman Collection’s 18 incredible lots, the crowd did not thin in the least, with collectors, dealers and consignors eagerly awaiting the rest of the evening’s lots. Interesting type coins and varieties found welcome homes, such as the extremely rare 1724 Wood’s Hibernia Halfpenny with DEI above George’s head; graded EF-45 by PCGS, this coin settled at $3,818.75 even though it is unpriced in the Guide Book. One of the most anticipated lots of the evening was the newly discovered Lilly J Collection specimen of the RR-35 variety of 1788 Vermont copper. Just over a dozen specimens of this variety are thought to exist, and many collectors of the compact Vermont coppers series still need one. It is no surprise that the bidding started low and climbed quickly to $20,000, when two serious bidders battled it out until it sold for $30,550, many multiples of the last example of this variety Stack’s Bowers sold at auction in 2010.

Among Connecticut Coppers was a high condition census example of 1787 Miller 33.2-Z.17 graded AU-53 by PCGS; it sold for $2232.50. Desirable varieties continued with the 1784 Vlack 14-84A Machin’s Mills Halfpenny graded VF-25 by PCGS that sold for $3,525, one of many halfpence from the Machin’s Mills series pedigreed to the Richard Moore Collection.

Appearing toward the end of the C4 Auction Session and providing a bookend to the David Sundman Collection, the Richard Moore Collection of 1787 Fugio coppers sold to fierce floor, Internet and phone bidding. The Moore Collection is the fourth major specialized collection of Fugio coppers that Stack’s Bowers has offered since our first auction held in cooperation with C4 last November in Baltimore. Despite the greatly expanded supply of Fugio copper varieties brought to market through these great collections, the demand for both rare and common Fugios has not wavered. Moore’s collection was a “collector’s collection,” featuring as many varieties in as high grade his budget would allow. Along the way, he purchased some great pieces, such as the rare Newman 2-C or “FUCIO” variety, graded VF Details by PCGS, which sold for $5,581.25. The unique UNITED over STATES type, also known as Newman 11-A, was represented by a beautiful AU-50 (PCGS) specimen that sold for $16,450. Selling for nearly $10,000 was Moore’s Fine Details (PCGS) example of Newman 13-KK, felt to be Rarity-7 (3 to 12 known), a rarity confirmed by its astounding price. Strength in Fugios also came from outside of the Moore lots, with a $9,400 sale price for a 1787 Newman 8-B “UNITED STATES” variety graded MS-65 BN (PCGS) and pedigreed to our (Bowers & Merena’s) November 1979 sale of the Bartlett Collection.

Stack’s Bowers was initially chosen by the Colonial Coin Collectors Club to hold its auctions through 2014, and we are delighted that we have been able to extend our auction contract with this robust collecting organization through 2017. The joint Stack’s Bowers-C4 Auction has proven to be a fantastic venue to offer individual significant colonial coins or entire collections. It is never too early to start planning an auction consignment—call us today and speak to your favorite Consignment Director to explore a consignment to next year’s C4 Convention Auction!