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Pillar of the Community
United States
9792 Posts |
Since it's one of the rarest coins one could ever hope to have, (not unique) but the only one available to collectors. It has a long pedigree history, most recently coming out of the incredible D. Brent Pogue Cabinet, Eliasberg and Brand before that. While not the best in condition, rating only a honest but fair, AU50 by PCGS. The coin is so famous, Q. David Bowers penned a book about it. Prior to the May, 2016 Pogue Cabinet sale (where it passed) this 1822 Capped Left Half Eagle has only sold twice at auction, in the previous 115 years. In fact I think it best to let the Pogue Catalog's first paragraph speak on it: Quote:
One of America's most noteworthy historic collectibles in any form, the only 1822 half eagle in private hands is an unassuming physical presence. Its surfaces are toned to a deep, elegant shade of amber and maize, highlighted with subtle hints of pale green and ruddy violet. Coronas of luster shine outside all design elements, bright and reflective, framing Liberty's portrait, the date, each star, along with the eagle and peripheral legends on the reverse. Its aesthetics are positive, but not in a showy way. This is not a gem, nor does it glitter like a jewel. This piece displays antiquity. It shows wear and use. Its surfaces suggest its life before collectors and cabinets and fame. Within the shadows of contrast between a coin worth $5 and a coin worth millions, this coin hides a story whose earliest details will forever remain unknown. Here is the Lot at Stack's/Bowers: https://auctions.stacksbowers.com/l...8-au-50-PCGSHere is the PCGS link: https://www.PCGS.com/coinfacts/coin...-1/519931/50And finally the link to the May, 2016 Pogue Cabinet Sale Catalog (PDF) https://media.stacksbowers.com/Virt...talog_LR.pdfIt last brought a winning bid of $687,500 from Louis E. Eliasberg, Sr. "The United States Gold Coin Collection" sale by Bowers & Ruddy Galleries, on October 29, 1982. David Akers' purchased the coin and eventually sold it to D. Brent Pogue in a private sale. In 2016 at the Pogue Cabinet sale, it failed to meet the reserve of $6,500,000 despite it being bid up to $100,000 short of that price. The same sale and collection also had another major pass. The finest known 1804 Dollar also failed to meet it's reserve with a bid of $9,200,000. Maybe the market was not as stable at the time? We know prices have been exceptionally strong lately at coin auctions, evidenced by the Heritage sales of Donald G. Partrick and Bob Simpson collection's setting record prices, with coins eclipsing the $6 million dollar mark. Current bid on the 1822 Half Eagle as of writing this post is $3,400,000 with "NO RESERVE" showing on the lot, other lots do show reserves, so this is an interesting turn of events, Will it actually sell this time around? I believe this time around the coin will sell and should bring a strong bid, will there be more than one interested party though? That is the key, DL Hansen could easily afford it, and if he intends to surpass the Eliasberg Collection, then he also must acquire it. If he does go for the coin and nobody else is after it then it will be his for $6,500,000 however add in any other wealthy collector or investor then it's game on. I predict a price of $7,250,000 this time around, and a sale. But only if more than one other interested party gets involved in the auction.  What say you? "Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440Edited by westcoin
03/21/2021 01:57 am
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Pillar of the Community
 United States
8938 Posts |
The 1822 Half Eagle is the rarest coin you've never heard of. For a coin as rare, important, and attractive as it is, it seems 99% of the collecting populous has never even heard of it. I actually discussed this coin with a group of friends who are also collectors at lunch a few weeks ago, and they'd never heard of it. They've no novices mind you.
I hope this coin can perform well, if it does it should tell the story for how the market will react to "unappreciated rarities" that come up for sale.
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Pillar of the Community
United States
4469 Posts |
$10,100,000 I believe there are some deep pocket collectors that are going to make Hanson pay for the coin, or sell it to Hanson after auction for a nice profit if it becomes the key to the Hanson collection.
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Pillar of the Community
United States
3343 Posts |
It doesn't tickle my fancy.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Pillar of the Community
United States
4233 Posts |
"When Stack's Bowers Galleries offered this legendary rarity in 2016 with other items from the Pogue Collection, the family decided they were not yet ready to part with such a treasure. "
I wonder if that will happen again. Otherwise even $6.5 million seems a bit much to me. It's not very "famous".
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Pillar of the Community
United States
1613 Posts |
Most certainly it will sell, north of a million I would guess. The thing is, in the realm of rare and unique coinage grading is somewhat irrelevant. Especially those with less than ten. The reality becomes how often they enter the market place which is what sets the final price. PCGS lists one for this particular Half-Eagle and we likely won't see it up for sale anytime soon after the auction.
ANA member - PAN Member - BCCS Member There are no problems only solutions - the late, great John Lennon
Edited by Ballyhoo
03/21/2021 8:18 pm
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Pillar of the Community
United States
1801 Posts |
The 1822 half eagle coin needs to hire a better public relations firm.
When I was at the Smithsonian around 1987, the "gold coin room" was still on display highlighting the Lily Collection of US Gold coins that had been donated to the National Numismatic Collection in 1968 in exchange for a 5.5 million dollar tax deduction. It was an almost complete collection of US gold coins and for an avid numismatist like myself it was breathtaking. In a free standing little display case in the room were several gold coins including a Brashear Doubloon and an 1822 half eagle. No information, no commentary as to what they were and most people just walked by, glanced at the coins and then went on and stared at the big gold coins in the wall displays. I did have a few people ask me why those coins were in their own case since I was intently staring at them and I told them they were 2 of the rarest of all US gold coins. Unfortunately that display was removed and put into storage in 2004. In 2018 the museum began digitizing the Lily collection, not sure if the task was ever completed. They also began removing the museum wax that had been applied to many of the coins to mount them in display cases.
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Pillar of the Community
 United States
9792 Posts |
Yep I was off by over $1,000,000.00 still a fantastic price in an uncertain cash market, though coins and other high dollar items seem to have no trouble selling or finding new record highs either. (Supercars are sold out in pre-production, as are mega yachts, high end private jet planes, even real estate is going like gang busters).
I agree the coin isn't as well known as many rarities in the US coin series. I also wasn't really that aware of it until I got into collecting early auction catalogs, then seeing them appear in several big sales from B. Max Mehl, Dunham, Virgil Brand, Parmelee, Bushnell, Kosoff and the Lily Gold collection, etc. It was a coin that sold fairly often (pre Smithsonian lock up) when there were more in the market (3) and they sold for more than 1804 dollars did.
Now I wonder who it went to? Some lucky and wealthy collector!
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440 |
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Posted 03/21/2021 01:54 am
