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June 2015

D. Brent Pogue Sale Part I Brings Over $25 Million

     For over four decades we have been witness to countless incredible record-setting auctions; and now many of the finest coins from former sales are once again hitting the auction blocks. Most recently, we have had the privilege of reporting on the first three sessions of the Eugene H. Gardner Collection hosted by Heritage Auctions, which have accumulated over $47 million in prices realized. Now, the beginning of the D. Brent Pogue Collection, with its multiple sessions, has the numismatic world a buzz once again. The first session is now history as Stack’s Bowers Galleries and Sotheby’s, in conjunction, set several records as the total prices realized were over $25 million for the 128 coins. That is an average of over $195,000 per lot. Yet, this number is meaningless without knowing the quality and rarity of the coins sold. We cannot do this sale justice without listing all of the great rarities but we have selected a few nonetheless.

     As was generally expected, one of the top highlights of this sale was the 1808 $2 ˝ Gold, which historically can be traced back to Parmelee, Jenks, Green, Judd, and everybody’s favorite Congressman Jimmy Hayes, who last sold the coin in 1984. This MS65 PCGS certified coin is the highest grade for the date; there are only 25 other Mint State coins certified with just one in MS64. This coin did not disappoint as it realized $2,350,000.

     If it had not been for the 1808 $2 ˝ Gold, the 1797 Draped Bust 15 Stars would have been the star of the sale. This coin is certified by PCGS as MS66 and is the finest and only coin in this grade. With a selling price of $1,527,500, it could well be the most expensive early Bust Half Dollar currently known.

     The always popular 1796 Draped Bust Small Eagle Quarter, graded MS66 by PCGS, was just one of many history making Quarters sold. This is a one year type coin and with an original mintage of just 6,146 with a survival rate that is quite small. In fact, there are only 320 coins certified by both PCGS and NGC combined in all grades VF35 and below. From XF40 through AU58 there are another 117 coins certified and only 65 coins in all mint state grades with just five coins in MS66. There is just one coin grading higher in MS67. This MS66 brought an incredible $1,527,500. Along with this Quarter there were a very special group of Proof Bust Quarters, listed below, that are seldom seen in any auction.

DateGradePrice Realized
1820 Bust Quarter Large 0PCGS PR66$188,000
1821 Bust QuarterPCGS PR67$235,000
1822 Bust QuarterPCGS PR67$246,750
1822 Bust Quarter 25over 50CPCGS PR65$223,250
1827/3/2 Bust Quarter OriginalPCGS PR66+ Cameo$705,000

     The five coins listed above are so rare that there are only a total of 20 coins certified among them; the lowest grade is a PR63 for the 1822, which also has the highest grade at PR68. The 1822 25 over 50C and the 1827/3/2 each have only two coins certified; both of the highest grades are from this sale.

     A lovely 1794 led off the Half Dollar portion of the sale. This PCGS MS64 is the finest known and is just one of the eight coins certified in all Mint State grades. There are five coins in MS61 and two in MS62. This is such a tough date in all grades that there are only 19 coins total in AU50 through AU58. This MS64 realized a final price of $763,750.

     When it comes to rarities there are not many Bust Halves that can compare to the 1796 16 Stars, especially in an uncirculated condition. There are only five Mint State coins for this specific variety and this coin auctioned is the finest known at PCGS MS66. It sold for $822,500 and it can be traced back to the Virgil Brand Collection. It will no doubt be the center piece of another famous collection.

     Also included in Part I of this sale was a small group of Quarter Eagles definitely showing a lot of star power. The first lot was the 1796 No Stars in PCGS MS62. There are only two finer at PCGS, one being MS65 and the other MS62+. This MS62 brought $822,500 which was well over its pre-auction estimate. This is one of those rarities that comes along so infrequently that the competition was bound to be fierce. There are only six Mint State coins certified by PCGS and twelve listed between MS60 to MS65 by NGC. Some of these are likely the result of multiple submissions, thus lowering the overall number of Mint State coins actually available.

     Another highlighted rarity was the 1798 $2 ˝ Gold with Close Date and Four Berries. This coin is the highest graded for the date at MS65 by PCGS and the pre-sale estimate was between $200,000 and $325,000; it did much better than that selling for $763,750. With only 1,094 coins originally minted, this is certainly a rarity by all standards. There are only 39 coins certified in all grades, which includes 13 in Mint State, both varieties.

     Listed below are a few more of the many important coins sold from Part I of the D. Brent Pogue Collection Sale. Many of these coins are pedigreed and/or the finest known. Please contact Stack’s Bowers Galleries for a complete list of prices realized and for catalogues of future Pogue sales.

 
Date/Denomination
 
Grade
Price
Realized
1792 Half DismePCGS MS64$440,625
1796 Draped Bust Half Dime LIKERTYPCGS MS67+$411,250
1796 Draped Bust DimePCGS MS66+$235,000
1803 Bust DimePCGS MS64$211,500
1804 Bust Dime 14 StarPCGS AU58$329,000
1823/2 Capped Bust QuarterPCGS AU58$246,750
1795 Flowing Hair Half Dollar Two LeavesPCGS MS65$411,250
1796 Draped Bust Half 15 StarsPCGS SP63$587,500
1796 $2 ˝ Gold with StarsPCGS MS62$440,625
1804 $2 ˝ Gold 13 Star ReversePCGS AU53$499,375









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