Michaan’s First Stand-Alone Coin Auction Breaks $600,000 Mark

Alameda, California (EastBayDaily) — Rare coins from the estate of Barbara Riggins were a resounding success at Michaan’s on March 6. The 325-lot sale virtually sold out, with a mere total of five lots remaining unsold.

The auction proved to be the most fruitful coin offering at Michaan’s, lead by the sale of lot 1012, a U.S. 1875 $20.00 MS64 Liberty Head gold coin at an estimate of $10,000-12,000. The coin realized a price over three times the high estimation, selling for $38,940 to a coin dealer who attended live.

Michaan’s Coin and Stamp Specialist, Michael Rosenberg, recognized the piece as a star lot. Pre-sale, he had made note of select U.S. Liberty coins in the auction, commenting, “The grading on these coins is very rare. Their condition is exceptional, pristine. To find low mint pieces such as these in this condition is undoubtedly a collector’s treasure.”

A succession of U.S. gold coins were top achievers at auction, with opening Indian Head lots starting the auction with a bang. In their order of performance was a 1909 $5 piece that sold for over 12-fold the high estimate for $15,340 (lot 1002, $1,000-1,200), a 1914 $5 coin that exceeded the high estimation over nine times at $11,210 (lot 1003, $1,000-1,200) and the auction’s two opening lots that each sold for over seven times the given high projection (lot 1000, $1,000-1,200, sold for $9,440 and lot 1001, $1,000-1,200, sold for $8,850). The “gold rush” continued with lot 1156, a 1902 (S) $20 piece that achieved a price realized of $17,700 ($5,000-6,000), as well as two additional gold coins shy of doubling estimates at handsome figures of $11,210 each (lot 1147, $5,000-6,000 and lot 1148, $5,000-6,000).

Many coins at conservative price points in the sale also did quite well, most obviously evidenced in lots of Morgan dollars. Of particular note was lot 1314 at over five times the high estimate ($250-350, sold for $2,006). More than tripling estimations were 1878 groupings of Morgan dollars (lots 1296 and 1297, each $400-500, each sold for $1,534). Rounding out the Morgan offerings was a lengthy list of lots that more than doubled projections, listed as numbers 1057, 1285, 1292, 1293 and 1294.

Complete results for Michaan’s rare U.S. coins from the Estate of Barbara Hussey Riggins auction as well as future sale information and bid submission is available online at http://www.michaans.com. For general information, please call Michaan’s Auctions at (510) 740-0220 ext. 0 or e-mail info(at)michaans(dot)com. Michaan’s Auctions is located at 2751 Todd St., Alameda, CA 94501.

About the company: Michaan’s Auctions is a leading full-service auction house on the West Coast. Specializing in the appraisals and sale of antiques and fine art, Michaan’s has specialists in the fields of furniture and decorative arts, modern, contemporary art, European and American paintings and prints, jewelry and Asian works of art.

Established in 2002, Michaan’s Auctions holds up to 30 sales each year attracting a broad base of buyers and consignors from all over the world. With one of the largest facilities in Northern California and the Bay Area’s lowest buyers premium, Michaan’s offers buyers and sellers the opportunity to preview and bid on many unique and desirable properties. Some of these pieces realized world record prices. In 2005, A.D.M. Cooper’s oil painting, Three Graces 1915, sold for a record $21,060 and an Eduard Gaertner oil, German City Street Scene 1831 sold for $266,000.

Michaan’s has built its reputation on its ability to accept single items, groups or entire estates with its “no risk consignment policy” free of hidden fees and charges. Michaan’s specialists are dedicated to staying current on the latest issues and developments in the market and are committed to providing personalized and professional attention throughout the entire auction process.

For a full listing of upcoming auctions or to view a complete catalog, please visit http://www.michaans.com.

Contacts

Talesa Eugenio

510-740-0220