NGC Certified Newman Part V Achieves $10.4 Million

The following is a press release from NGC

Highlights from the Heritage Auctions sale include a 1776 Brass "CURENCY" Continental Dollar graded NGC MS 62 and a 1785 Inimica Tyrannis Confederatio Copper graded NGC MS 63 BN.

Numismatic Guaranty Corporation (NGC) has announced that the 965 NGC-certified Colonial, Territorial and Federal issues in Part V of the Eric P. Newman Collection have sold for more than $10 million. This sale brings the total for the first five parts of the Newman Collection, all of which have been certified by NGC, to nearly $55 million.

"The Eric P. Newman Collection has solidified its place as one of the greatest collections ever sold and NGC is honored to have been chosen to grade the first five parts," says Mark Salzberg, NGC Chairman. "Newman Part V featured some truly incredible prices realized for selections from the 103- year-old scholar's extraordinary collection of early American coins."

The most impressive results came from the sale of six varieties of Continental Dollars, which were struck in 1776 to help finance the American Revolution. An NGC MS 62 example, struck in brass with the "CURENCY" misspelling, led the group at $440,625- "a record for the variety. It was closely followed by the finest of only four known pewter Continental Dollars with the "CURRENCEY" spelling. Graded NGC MS 63, it achieved $381,875.

One of the most desirable early American issues in Newman Part V was the 1785 Inimica Tyrannis Confederatio Copper graded NGC MS 63 BN. Struck as a proposed coinage for the newly independent United States, this variety is known by only seven specimens. The Newman piece, which is significantly finer than the rest, sold for $352,500.

Other important pieces from this era in Newman Part V include the unique 1792 Eagles & Stars "Washington President" Cent in NGC XF 40 BN. This coin, which Newman bought for just $250 in May 1956, realized $117,500.

High prices were not limited to Newman's Colonial and Pre-Federal coins. A 1796 Stars Quarter Eagle graded NGC AU 58 sold for $223,250, a record price for the grade. Another quarter eagle, an 1825 in NGC MS 65, set an auction record when it realized $141,000. This sum is $26,000 more than the price achieved for an MS 66 example several years ago.

Rounding out the gold coin highlights is an 1849 Reeded Edge Norris, Gregg and Norris Five Dollar, struck during the first year of the California Gold Rush. This NGC MS 63 example, the finest known of the type, realized a record $99,875.

EPNNES Foundation Statement Items being sold are from the extensive collection of Eric P. Newman Numismatic Education Society (a Missouri not-for-profit corporation) and have been assembled over a period of 90 years. Proceeds of the sale of all items will be used exclusively for supplementing the Society's museum operations and scholarly numismatic research efforts and for the benefit of other not-for-profit institutions selected by Eric P. Newman Numismatic Education Society for public purposes.