Heritage Galleries, based in Dallas, Texas, is the biggest gems auction house in the world, and they will be holding the greatest rare coin auction in Fort Lauderdale, Florida, from January 12-15. The auction will feature 15,000 items, including a rare $1 million U.S. dime and three gold coins made by George Washington’s neighbor.
The record-breaking world auction will take place at the Florida United Numismatists (FUN) conference, one of the largest rare coin conventions in the nation, and is believed to generate at least $40 million in winning bids, shattering the past best of $30 million set in January 2003 by Heritage Galleries.
One of the centerpieces of the auction is a dime from 1894 that was minted at the San Francisco Mint and is now worth $1 million. “The San Francisco mint only struck 24 dimes that year, but only 10 are confirmed to be available today. Considered to be the best specimens discovered, “said Heritage Galleries President Greg Rohan.
George Washington’s Cherry Street neighbor and good friend Ephrain Brasher produced three gold coins by hand in New York City in 1787, and you can buy them here. Brasher, a prominent politician and silversmith from New York City, provided these coins as the first money for the new nation.
Three of the 10 remaining “Brasher doubloon” gold pieces are worth at least $5 million, according to Rohan. Three hundred pieces of multicolored paper money dating from the 1860s to the late 1920s were found in the vault of a Yonkers, New York, apartment and are among the sale’s other attractions. The ancient bank notes are worth $1 million today, thanks to a known collector who acquired them in the 1940s and 1950s on the small wage he received as a New York City subway motorman.
Although it may seem absurd to pay a million dollars for a dime, collectors often do so when a scarce coin from the 1800s hits the auction board. Because this dime is one of just nine known today, it is a rarity among rare coins. According to history, the first ever was struck in the San Francisco Mint to get rid of some new silver bullion. Still, with the country during a severe economic slump, the mint could not produce anymore.
At the San Francisco Mint in 1894, just a few Barber dimes were minted, perhaps to settle a bullion account. This coin is the best-verified 1894-S survive, and collectors have seen no more than nine. We estimate that there are at least a handful more of these 1894-S dimes in circulation,” Rohan added. Heritage Auctions has provided a prize for finding an unreported specimen of this coin. We are willing to give $10,000 to anyone who examines and authenticates this coin as a genuine, hitherto undiscovered 1894-S dime.
A Roosevelt dime struck on a zinc-coated sixpenny nail sold for $42,300 at Heritage the day before in a remarkable U.S. Mint mistake sale rated MS65 PCGS. According to estimates, the “coin” was worth more than $10,000. A well-known American collector paid for it. This collector is known for his wide collection of products from many different genres.
According to Rohan, “spirited bidding between collectors over this coin shows that the main problem coins are the most sought for in the hobby.” These flaws are the rarest and most perplexing ever to be auctioned. Nobody knows for sure what made it or how it was hit.
It is believed that the zinc-coated sixpenny nail was released into circulation with the minting of Roosevelt dimes, while the actual date of the specimen is unknown. As unusual as it may seem, this coin is not the first to have its design engraved into a nail. In the 1970s, a few cases of pennies struck onto nails were unearthed. It is estimated that there have been about six such mistakes like this one.