Press Release April 2005

ELIASBERG PRICES STUN NUMISMATIC WORLD

Sale Totals Over $10 Million; Bidders from 37 Nations; New Records Set

NEW YORK, April 20 - American Numismatic Rarities of Wolfeboro, New Hampshire in association with Spink in London, is proud to announce the results from the sale of the Louis E. Eliasberg, Sr. Collection of World Gold Coins and Medals. The two-day sale, held in New York City on April 18 and 19, realised a spectacular total of $10,118,246 (£5,621,247). Spink in London had a live voice link directly into the saleroom, a first for any London coin auctioneer.

Prior to this historic auction, hundreds of bidders from every inhabited continent registered to bid, each anxious to compete for the thousands of prizes in the Eliasberg collection. The superb attendance and worldwide marketing of the collection yielded fierce bidding, record prices and many surprises.

Hadrien Rambach, Spink Coin specialist commented, “This collection had everything to seduce the collector – diversity, quality, and freshness to the market. The exceptional prices achieved during this marathon auction of more than 2,500 lots, proved once again how healthy the market is for coins with superb provenance.”

“The energy in the auction room was electric, and we are so proud of the way this sale turned out,” said ANR President Christine Karstedt. “Our staff worked very hard, along with the staff at Spink, to bring this collection to market, and we are delighted to have been a part of this historic and memorable event.”

The highest individual price achieved was $379,500 (£210,833), paid by a well-known dealer bidding on behalf of a client for the Venice 50 zecchini of Doge Alvise Mocenigo IV (1763-78). The excitement was palpable leading up to this lot, described as “a centrepiece of the Eliasberg collection and a singularly impressive coin.” The final bid represented a new world record for an Italian coin struck after the Roman Empire.

Most lots surpassed their estimates, some by as much as ten times pre-sale expectations. There was active bidding via the Internet and on the telephones throughout the two-day sale. The atmosphere in the New York saleroom was certainly comparable with other great coin sales of the past, including Pittman in 1999 and Hammel in 1982.

Two of the top four coins were from Korea, with the 1908 5 won bringing $287,500 (£159,722) and the 1906 20 won selling for a strong $184,000 (£102,222). Among the Chinese coins, the leader was a 1906 K’uping tael, selling for $109,250 (£60,694), more than four times the high estimate.

A unique coin found in the Eliasberg collection brought the third highest price in the sale, $218,500 (£121,388) against a pre-sale estimate of $15,000-25,000. Once included in the Clapp and Eliasberg collections under the coinage of Peru, the coin was determined to be a counterfeit produced by famous Baltimore, Maryland silversmith Standish Barry, who is known to have struck silver tokens in 1790.

In total, nine lots sold for more than $100,000 (£55,555). A possibly unique 1756 Guatemala 8 escudos fetched $149,500 (£83,055), and a specimen of the extremely rare 1836 General Rosas portrait 8 escudos of Argentina brought the same sum, each well in excess of pre-sale estimates. The 1915 Cuba Proof set, consisting of six gold coins struck at the Philadelphia Mint, sold for a surprising $126,500 (£70,277). The newly discovered 1755 4 escudos of Colombia, the topic of worldwide press coverage, set its first auction record at $103,500 (£57,500).

Other highlights included the unique Curacao piece with 6 countermarks and the gem 1852 Adelaide pound of Australia, both fetched $97,750 (£54,305). Among the Russian coins, the top lot was the rare 1898 Proof 25 roubles at $86,250 (£47,916). The top piece from Mexico was a rare and historic 1732 8 escudos at $80,500 (£44,722). An impressive 1805 ingot from Sabara, Brazil led all pieces from that nation at $77,625 (£43,125). The top Polish piece, a 1614 5 ducats, sold for $59,800 (£33,222), more than five times its high estimate. All pieces from Honduras, Ecuador, and Guatemala brought remarkable sums as nearly every specialist dealer from Latin America was in attendance or represented at the sale. The top seller in a strong English section was the uniface 1825 5 pounds pattern that sold for $41,400 (£23,000).

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Press Contacts: Emily Johnston
Images & Further Information: Spink Press Office on 020 7563 4009