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NumisMedia Weekly Market Report
With Some Limitations, Top Rarities Still Breaking Records
October 19, 2020
Legend Rare Coin Auctions recently hosted their Regency Auction 41 in conjunction with the PCGS Members' Only Show in Las Vegas, and there were some interesting results. Featured was the Bruce Morelan Collection of Early Dollars which included the 1794 Flowing Hair Dollar in PCGS SP66 and the 1804 Draped Bust Dollar in PCGS PR65. Neither of these coins met the reserve at this sale which could be an indication that there are some limits in today's market. Further, Mr. Morelan is a renowned collector and one of the top buyer of rarities, and when you remove an important bidder from the buying equation, the competition is somewhat reduced. Despite this market correction, there were many other rarities that brought record prices.
1795 Draped Bust Dollar Off-Center Bust certified by PCGS MS66 and CAC
This coin was certified by NGC as MS67 at one point, but is now in a PCGS MS66 holder and includes CAC approval; it brought $705,000. This is the finest of the variety that is certified by PCGS with the CAC sticker. There are only 8 other Mint State coins certified by PCGS and NGC combined. This coin has a long provenance including Chapman, Clapp, Eliasberg, Pogue, Morelan and now the new owner.
1795 Draped Bust Dollar Off-Center Bust PCGS MS66 CAC sold for $705,000 at the Legend Rare Coin Auctions Regency 41 Auction in Las Vegas, Nevada, October 8, 2020
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1796 Draped Bust Dollar Small Letters certified by PCGS MS65 and CAC
Like the example above, this coin brought $705,000 and is also the highest certified coin graded for the variety, although there is an NGC coin listed as well in the MS65 grade, but not with the CAC sticker. This coin is "stunning and totally original" as described by Bruce Morelan and Legend owner Laura Sperber.
1796 Draped Bust Dollar Small Letters PCGS MS65 CAC sold for $705,000 at the Legend Rare Coin Auctions Regency 41 Auction in Las Vegas, Nevada, October 8, 2020
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Below are some other highlights from the Bruce Morelan Collection, and a few other notable lots from the Legend Regency 41 Sale. Please contact Legend Rare Coin Auctions for a complete list of prices realized.
| Date/Denomination | Grade | Price Realized |
| 1797 Half Cent 1 Above 1 | PCGS MS66 BN CAC | $176,250 |
| 1793 Wreath Cent Vine & Bars | PCGS MS66 RB CAC | $305,500 |
| 1794 Large Cent Head of 1794 | PCGS MS67 BN CAC | $258,500 |
| 1795 Half Dime Flowing Hair | PCGS MS66+ CAC | $96,938 |
| 1926 D Buffalo Nickel | PCGS MS67 | $70,500 |
| 1796 Dime Draped Bust | PCGS MS66+ CAC | $293,750 |
| 1796 Draped Bust Quarter | PCGS AU50 CAC | $90,475 |
| 1905 O Barber Half Dollar | PCGS MS68 CAC | $52,875 |
| 1795 Flowing Hair Dollar 2 Leaves | PCGS MS64+ CAC | $293,750 |
| 1801 Draped Bust Dollar | PCGS MS65 | $246,750 |
| 1803 Draped Bust Dollar Large 3 | PCGS MS65 CAC | $528,750 |
| 1895 Morgan Dollar | PCGS PR67+ CAM CAC | $158,625 |
| 1854 $1 Gold TII | PCGS MS66 CAC | $64,625 |
| 1863 $3 Gold | PCGS MS66+ CAC | $64,625 |
| 1795 $5 Gold Small Eagle | PCGS AU58+ CAC | $91,063 |
| 1795 $5 Gold Small Eagle | PCGS MS64 CAC | $317,250 |
| 1840 C $5 Gold | PCGS MS64 | $64,625 |
| 1799 $10 Gold Heraldic Eagle | PCGS MS63 CAC | $82,250 |
| 1799 $10 Gold Heraldic Eagle | PCGS MS65 | $188,000 |
| 1880 S $20 Gold | PCGS MS65+ CAC | $129,250 |
| 1915 S $50 Gold Pan-Pac Round | NGC MS63 | $70,500 |
| 1915 S $50 Gold Pan-Pac Octagonal | PCGS MS63 CAC | $70,500 |
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