The Magnolia Sale

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May 3, 2011

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May 3, 2011 • New York

Coins, Stamps, Banknotes, Medals,Bonds & Shares, Autographs & Books

AUCTION CALENDAR

2011

The above sale dates are subject to change

Spink offers the following servicesValuations for insurance and probate for individual items or whole collections.

Sales on a commission basis either of individual pieces or whole collections.

Stamps24/25 March Philatelic Collector’s Series Sale New York12 April Civil War Sesquicentennial Sale Dallas5 May Spring Collector’s Series Sale London 1101824/25 September Fine Stamps & Covers of South East Asia Singapore 11016

Banknotes12 April The Laurence Pope Collection of World Banknotes London 1101512 April Civil War Sesquicentennial Sale Dallas13 April (am) The Peter Griffiths Collection of World Banknotes London 1101413 (pm)/14 April World Banknotes London 1100420/21 May Texas Numismatic Association Sale Fort Worth24/25 September Banknotes & Bonds of South East Asia Singapore 1101727/28/29 September World Banknotes London 110198 December World Banknotes London 11020

Bonds and Shares12 April Civil War Sesquicentennial Sale Dallas20/21 May Texas Numismatic Association Sale Fort Worth20 May Bonds & Share Certificates of the World London 1100621 October Bonds & Share Certificates of the World London 11022

Medals21 April Orders, Decorations, Campaign Medals & Militaria London 1100721 July Orders, Decorations, Campaign Medals & Militaria London 1101024 November Orders, Decorations, Campaign Medals & Militaria London 11011

Coins24 March Ancient, English & Foreign Coins and Commemorative Medals London 1100812 April Civil War Sesquicentennial Sale Dallas20/21 May Texas Numismatic Association Sale Fort Worth23 June Ancient, English & Foreign Coins and Commemorative Medals London 110096 October Ancient, English & Foreign Coins and Commemorative Medals London 110231 December Ancient, English & Foreign Coins and Commemorative Medals London 11024

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SPINK ASIAGary Tan

SPECIALISTSBanknotes

Barnaby Faull Matthew Orsini Jim Fitzgerald Francesca GirelliStamps

David Parsons Nick Startup Neill Granger Paul Mathews Guy Croton Dominic SavastanoChris Anderson Charles Shreve Tim Hirsch George Eveleth Ed Robinson

CoinsRichard Bishop Paul Dawson John Pett William MacKay Julie-Morgane Lecoindre Jim Fitzgerald

Arthur Bryant Matthew Orsini Thomas Tesoriero Normand PepinBonds & Shares

Mike VeissidAutographs

Robert LitzenbergerOrders, Decorations, Medals & Militaria

Mark Quayle Oliver PepysBooks

Philip Skingley Rebecca Mason

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THE MAGNOLIA COLLECTION

A story of early and continuing commerce…

Browse The Magnolia Collection and you get a wonderful snapshot of United States coinage and its evolutionfrom the ambitious beginnings to that of an established nation. What follows, is its story…

With the minting of the first silver dollars in 1794, the $10 gold piece in 1795 (Lot 1), and the dime in 1796,the new nation fully committed itself to a structure of decimal coinage. While the simplicity therein set the stage for later success, the system did not begin without issue. The Eagle or $10 gold piece, the highest denominated legal tender of the time and a prominent denomination within The Magnolia Collection, struggledto gain acceptance in commerce, as it failed to parallel with other popular circulating coins of the era such as theBritish Guinea or French Louis d’Or. The denomination was also awkward to make change from, as it was toolarge a monetary unit to use for small transactions yet too small as a unit for larger transactions. Even more, thereverse eagle design was met with criticism from the public who considered the eagle too scrawny – as a result,by 1797, a new eagle, one that mimicked that used on the Great Seal of the United States, was adopted for allgold denominations (Lots 2-6). It is worth mentioning however, that while the early Eagle didn’t see much commercial success, the Half and Quarter Eagle, carrying values of $5 and $2½ respectively, did see greater adoption as they blended well with other foreign coins that were still readily accepted by merchants (Lots 7-11).

As the country matured and the need to unify the nation under a single currency as well as perpetuate an identity abroad arose, Christian Gobrecht - the nation’s third Chief Engraver, helped to reverse a previousblunder that would symbolize a sign of things to come for the nation – the re-introduction of the silver dollar.The Gobrecht Dollar (Lots 12-13), as it is affectionately known today, was the first dollar made at the Mint since production of the Bust type was shelved in 1803 by Mint Director Elias Boudinot who preferred denominations with greater domestic utility. Since that reintroduction, the U.S. has never been without a formof popular currency, be it coin or banknote, that carried the $1 denomination.

A reduction in the amount of silver in much of the circulating coinage in 1853 started the ball rolling towardsa much more visible, yet unavoidable transition later that decade. By 1856 a change for the copper large centwas inevitable, as Mint Director Snowden said the cost of production “barely paid expenses”. That year, James

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Longacre was tasked with creating a pattern design for a new cent; that creation became the Flying Eagle Cent(Lot 14). In 1857, the Act of February 21, 1857 was passed and officially put an end to the long reign of thecopper large cent. Under new provisions, the 27.5mm large cent that had been an integral piece of commercefor so long would be phased out in favor of the new small cent – a standard 19mm coin.

For the decade following the change of the cent, relative coining tranquility existed, but by the mid-1860s,major topics that required addressing were again on the rise. The first of these was the Mint’s addressing of God.While big government was careful to avoid endorsement of one religion, one fact remained clear – God was apresent part in the lives of most of its citizens. Beginning in 1864, the two-cent piece debuted the “In God WeTrust” motto. In 1865, legislation was passed to ensure legal usage of the phrase. This legislation resulted insignificant activity at the Mint as a multitude of transitional pattern types were produced to help prepare theMint for its bridge to full scale “with motto” production (Lot 15).

Another notable change that came about was the continued maturation of the country and the realization inWashington that coins should be struck to address burgeoning overseas trade. With the ever-growing need tocompete against other nations in the arena of world trade, so came the need to produce a coin that would beaccepted in the East. During much of the 20th century, the Mexican peso was the chosen coin of the Chineseport merchants. As a result, American traders not carrying pesos often had to pay a hefty premium, thus making trade less profitable. The answer to this was the American Trade Dollar. In concept, the Trade Dollarwould carry more silver (1.8% more in actuality) than the standard silver dollar and was made to match the silver content of the Mexican peso. For the Mint, this again meant a heavy period of pattern production inpreparation for the introduction of the first business strike Trade Dollar in 1873 (Lots 22/23). In its inception,it was to be termed a Commercial Dollar (Lots 21/24). Shortly thereafter, the name changed for good and theTrade Dollar was born (Lot 32).

The same year of the first Trade Dollar marked a particularly pivotal one in numismatics for other reasons aswell. First, the Mint Act, or so-called “Crime of ’73,” eliminated odd denomination coins such as the two centpiece, the three cent silver, and half dime. Second, the Mint Act also converted the weight of U.S. coinage to the metric system, slightly increasing the weight of the dime, quarter, and half dollar. Third, to inform thegeneral public of the increase in weight, arrowheads were added on each side of the date to the dime, quarter,and half. Finally, adjustments to the knobs on the 3 in the date would be made on many of the coins as a resultof their initial confusion for 8s – thus resulting in Closed and Open 3 date variants (Lot 32).

In February 28, 1878 Congress passed the Bland-Allison Act allowing for the reintroduction of a silver dollartailored for domestic circulation. William Barber and George T. Morgan would be responsible for producingpatterns for the type (Lots 25/26) and ultimately George Morgan would design what would become the mostprolific dollar ever and one that came to be known by his name – the Morgan Dollar (Lot 38). While nothingever came of it, 1878 also marked the first year of consideration for a Goloid Dollar type. Late in 1877, Congressasked Mint Director Henry R. Linderman to produce Goloid patterns. As conceived, the mixture was to consist of 90% gold and silver with 10% copper. Patterns were produced for the next several years (Lots 27/28),but due to valid counterfeiting concerns, the Goloid Dollar never came to fruition.

While other major numismatic events certainly occurred during these years, The Magnolia Collectionstunningly illustrates some of the most important events from the earliest days of the U.S. Mint through the latter portion of the 19th century. We have arranged lots in The Magnolia Collection to coincide with this timeline of events - we hope you enjoy the journey.

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The Magnolia Collection


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Legendary “9 Leave” Ten

1

1 1795 “9 Leaves” 10 Dollars. PCGS MS61. Breen-6831, Taraszka-3, BD-3, R.6. Mintage:5,583. Without employing hyperbole, seldom can the term legendary be used in numismat-ics, however, when speaking of the nations first and highest denominated issue and beyondthat, an extremely rare major variety within that issue, the term legendary seems quite apt.Designed by Robert Scot, a total of 5,583 coins were minted and delivered during the firstyear of Eagle production. The obverse features a capped Liberty facing right with ten stars setto the left and five to the right. The reverse shows an eagle with wings spread and branch inbeak (later to be replaced by Heraldic Eagle type in 1797 because the eagle was consideredinferior). One of the many attributes that sets the current example out from the majority ofthe minted pieces is the branch the eagle perches on - most examples show thirteen distictleaves, while the present only nine. Numismatic historian Walter Breen surmised that it waspossible that the “9 leave” variety was coined on two days with a total original populationaround 326 coins. In their widely referenced book, Early U.S. Gold Coin Varieties, JohnDannreuther and Harry Bass, Jr. believe somewhere between 210-500 examples were struck.While either figure may or may not be accurate, the fact is that the variety is decidedly rare,and examples only appear on the market on average every two years. Third-party certificationfurther confirms this fact as in the near 30 years of grading coins, PCGS and NGC have onlydesignated a maximum of 23 examples (many likely duplicates due to resubmissions) the nineleave variety versus 364 for the thirteen leave variety.The history of the “9 leave” variety is quite a curious one, as it is generally attributed toengraver liberties in an attempt to open the design, but unaware of the symbolic significancethat 13 carried. While it can be presumed that the error was caught fairly early on, one thingis nearly definite - it seemed to evade numismatic distinction until the 20th century. Whenexactly it was first acknowledged is unknown, but 1926 seems a plausible date as famousnumismatist Waldo Newcomer paid multiples of the “going rate” for a VF example then. It isnot until the 1960s however that the rarity and significance behind the variety was fully real-ized. Even so, it’s apparent that even then, the “9 leave” type was at times overlooked as theca. late 1960s cardboard flip that the present coin only until recently resided in made no ref-erence to the variety and was marked $2,700 (a pittance even at the time for the “9 leave”type). Today, the variety, for obvious reasons enjoys a spotlight, as the allure of a variety as rareas the present produced in the first year of minting of the highest denomination is too muchfor the able-pocketed numismatist to pass up.In terms of condition and presentation, the current specimen when compared to the scant listof survivors, is an obvious standout. If it can be agreed upon that around 20 examples of thevariety are extant (generally it is), then about half that population shows some post-strikemalidy - be it cleaning, mounting, or otherwise. Even on the examples that display no post-strike afflictions, many, if not most of the examples, show significant strike-throughs on theobverse surfaces while others reveal abrasive adjustment marks around the edges or throughthe central devices. None of those ailments, be it mint-made or otherwise are present on thecurrent specimen, as the strike is remarkably defined. The color also speaks to the originality,as rich orange-gold color resides throughout with frosted luster on the obverse and a moreproof-like reverse. Minor coppery blushes toward the edges further confirm originality. As canbe seen on all recorded examples, die clash marks of UNI from UNITED on the reverse arebeneath star 10 and above Liberty’s cap on the obverse and a die crack is on the T in UNIT-ED and below leave two on the reverse. In totality, while several examples have been desig-nated in the Mint State category, one would be hard-pressed to find an example that surpassedthe present in terms of originality or eye appeal - a truly once in a generation offering. PCGSPopulation: 3 in 61, 3 finer. (photo)From the Magnolia Collection. Est. 150,000-170,000

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Desired “Long Thin Neck” Heraldic Eagle Type

2

2 1797 Large Eagle 10 Dollars. PCGS AU55. Breen-6834, Taraszka-8, BD-2, R.4+.Mintage Estimate (Large Eagle): 10,940. One of two distinctly different variations issued in1797 - the first being the very rare Small Eagle type that is similar to that used on earlier datesand that is missing from The Magnolia Collection, and the second, the type represented by thepresent lot, being the Large Eagle type inspired by the Great Seal of the United States. Furtherclassifying this example inside the Large Eagle type is the portrayal of the eagle’s neck styles.John Dannreuther, noted expert in early American gold coinage, classifies three different types- the “long thin neck”, the “short thin neck”, and the “short thick neck”. The present speci-men, the “long thin neck” or BD-2 type, comes from a single die pairing and it is estimatedtotal surviving population for the variety sits somewhere in the 80-100 range. While not typ-ically collected as a major variety, the “long thin neck” is notably distinguished and rather awk-ward in appearance. Dannreuther surmises BD-2 was the first of the 1797 Large Eagle revers-es to be used, and given the usage of the “long thin neck” on 1796 Quarter and Half Eagles,this makes logical sense. Other identifying marks for the variety are a large die crack that runsfrom the rim, through the last 7 in the date, and to Liberty’s bust. On the reverse, a die crackextends from the rim at 1 o’clock to the leftward area of cloud 5.The present example maintains a profound originality that is often lacking in early gold - lightbut even circulation is noted atop central devices, but no marks of individual distinction arenoteworthy. Frosty luster clings to much of the legends with an attractive adornment of lightcopper and rose hues. Perhaps as important to the appeal as anything, the strike imparts theintended devices with astounding clarity and without evidence of planchet striations. For thereasons that the early Ten in general fails to exist in plentiful enough supply to satisfy typedemand, as well as the admirable pursuit that many undertake of putting together a problem-free date set, the current specimen carries significance that would be difficult to overstate.PCGS Population (Large Eagle): 33 in 55, 62 finer. (photo)From the Magnolia Collection. Est. 15,000-17,000

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Seldom Seen Bass-Dannreuther 4

3

3 1799 “Small Stars Obverse” 10 Dollars. PCGS Genuine - Surfaces Tooled. Breen-6838,Taraszka-16, BD-4, R.7. Mintage: 37,449. For the type collector looking to fill the often-leftvoid of the early Eagle, the search frequently ends with the purchase of a 1799 Ten.Considered the most available date of the Eagles, examples can usually be obtained withouttoo much searching between the XF and AU grades. Like all of the early Tens, truly Mint Stateexamples are very scarce and quite pricey. The current specimen however happens to be thesecond rarest variety that the date bears and Early U.S. Gold Coin Varieties posits that between8-12 specimens of the die pairing are known. The variety can be identified by star 9 touchingthe Y in Liberty and a close 17 in the date. On the reverse, several die chips are evidentbetween the UN in UNITED and the O in OF is centered to the right of cloud 5.Like many of the early Tens, the current specimen is not without condition issues. The sur-faces, while maintaining a sharp strike and About Uncirculated details have been “worked”and result in a uniform, but flat orange-gold appearance. Upon inspection with a loupe, a mix-ture of cleaning in the form of hairlines and tooling is evident. For the collector, two signifi-cant appeals exist. The early gold variety specialist will certainly realize that with the total pop-ulation estimated at or below a dozen, the opportunity to obtain an example in any grade isan infrequent and important one. Also, for the budgeted type enthusiast, the present Ten willlikely be the most affordable within The Magnolia Collection. PCGS Population (Small Stars):138 in all grades. (photo)From the Magnolia Collection. Est. 3,000-5,000

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Lightly Circulated, Problem-Free 1801 Ten

4

4 1801 10 Dollars. PCGS XF45. Breen-6843, Taraszka-25, BD-2, R.2. Mintage: 44,344. Ofthe two die pairings for the date - the rarer of the two, BD-1, shows star 13 on the obverseaway from Liberty’s bust and the second, BD-2, illustrated by the present coin, differentiatesitself with star 13 showing close to Liberty’s bust. According to Dannreuther, the illustrateddie pairing is the most available Eagle in the entire Draped Bust Ten series with an estimatedsurvival of between 600-800 pieces. As such, compiled population data from third-party ser-vices suggest the 1801 date as the second most prevalent in the series behind 1799.An attractive problem-free example of this often-targeted type date. The surfaces, as the gradewould suggest, show moderate circulation with slight flattening on most of the highpoints.Numerous marks reside in the fields, but all are commensurate with the grade level and blendwell in the overall palate that is the coin. The strike, as is often seen, remains short of full with1 to 2 o’clock on the obverse and the corresponding reverse area holding notable weaknesswith adjustment marks (as-made) remaining on the obverse. Die clashing is prevalent withinLiberty’s cap with a number of striations from the eagle’s shield being easily evident. Giventhe surviving population for the type, the present coin may very well be the ultimate type rep-resentative in the series and for the collector attempting to obtain a problem-free examplewithout spending a fortune, .it deserves as much attention as any. PCGS Population: 41 in 45,398 finer. (photo)From the Magnolia Collection. Est. 7,000-9,000

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Bright “Small Stars Reverse” Eagle

5

5 1803 “Small Stars Reverse” 10 Dollars. PCGS AU55. Breen-6844, Taraszka-26, BD-1,R.5+. Mintage: 15,017. Behind the 1799 and 1801, 1803-dated examples sit as the thirdmost available date in the early Eagle series. Of the six die pairings for the date (4 Small StarsReverse/2 Large Stars Reverse), only the “Small Stars Reverse” or BD-3 is readily availablewith the others classifying as very scarce or rare. The present example, a BD-1, was the firstemission of the year to carry the 1803 date. While all examples use the same obverse die, thereverse is easily identified by a die gouge between the TA in STATES and one of the arrowpoints reaching the I in UNITED. Dannreuther notes that 20 examples of the type weretraced at auction between 1990-2005, and a total of 30-40 are believed known.A stunningly preserved example of the date with faint friction throughtout that is most notice-able on Liberty’s cap. Unlike many of the earlier dates that often show thickly frosted luster,the surfaces of the present example hold semi-prooflike gleaming luster within the protectedsurfaces. The strike is notably sharp with fully intended detail portrayed on both sides with nostriking imperfections apparent in the fields. Moderate bagginess is noted, but none are largeor take the individual attention of the eye. Overall, an attractive bright-yellow example of thetype that will surely carry merit with the date collector by variety or type enthusiast. PCGSPopulation (Small Stars Reverse): 30 in 55, 81 finer. (photo)From the Magnolia Collection. Est. 15,000-17,000

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Fresh AU “Large Stars Reverse” Ten

6

6 1803 “Large Stars Reverse” 10 Dollars. PCGS AU53. Breen-6845, Taraszka-30, BD-5,R.4+. Mintage: 15,017. A second 1803 Ten from The Magnolia Collection, and distinguishedfrom the first by a large set of stars above the eagle on the reverse. Of the six die pairings thatexist for the date, only two show a “Large Stars Reverse” with one example being very rareand excessively difficult to obtain. This particular example, the more frequently encounteredof the two, is peculiar and particularly collectible because of the addition of a small star thatis punched within the last cloud. Adding to the intrigue is the size of star 14, which is small-er than any used during Eagle production. For that reason, experts surmise that its inclusionis the result of the hijinks of a Mint employee. Survival estimates for BD-5 generally sit around100 examples.Set in bright yellow-gold with remnants of luster clinging to the protected areas. The surfaces,unlike most examples within the About Uncirculated grade level are void of large marks fromcontact with other abrasive objects, and only reflect soft marks that suggest delicate circula-tion. While the obverse remains well struck, the reverse does lack full detailing with numer-ous multi-directional adjustment marks (as-struck) remaining in the fields. An attractive prob-lem-free example that is sure to catch the attention of the early gold enthusiast. PCGSPopulation (Large Stars Reverse): 4 in 53, 20 finer. (photo)From the Magnolia Collection. Est. 14,000-16,000

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Low-Mintage Early Quarter Eagle

7

7 1805 2.5 Dollars. PCGS XF45. Breen-6121, BD-1, R.4. Mintage: 1,781. Issued duringeight-years from 1796 through 1807, all Capped Bust Quarter Eagles were minted in rela-tively limited quantities. Because of this, all dates of this Robert Scot designed type are high-ly collectible, and to obtain an example, no matter the condition, is a signal of an accomplishedgold collection. The 1805 issue in particular, recording just short of 1,800 made, sits right inthe middle of the dates with 1796 being the rarest with 859 examples coined in two signifi-cant types (stars and no stars) and the type’s final year, 1807, carrying a mintage of 6,812coins. As is the case with all circulating gold of this era, the attrition rate was particularly highand noted early gold specialist John Dannreuther estimates that a mere 100-150 coins for thedate exist in all conditions. A look at the PCGS and NGC population seems to support thisthought as 102 examples have to date been certified and when factoring resubmissions anduncertified specimens we in all likelihood remain within this range.With regards to the physical preservation, it sits right in the middle of the census as Breennotes that most surviving examples are observed with VF or EF detail. What does make thispresent example special is the wholesomeness retained within. Unlike the striking issues thatplague much of the surviving early gold in all denominations, the present example is admirablystruck with even detail on both sides, full reeding, and only the most trivial appearance ofadjustment marks that blend into Liberty’s portrait. While the highpoints do reveal somewear, it is even and sets the devices in pleasing contrast as the fields are yellow-gold with acontrasting straw-gold where friction is present. No abrasions are of consequence. For theaccomplished collector of early gold, or the determined type enthusiast, the present specimenoffers an opportunity that is truly as infrequently encountered as a coin the caliber of the pre-sent. PCGS Population: 3 in 45, 38 finer. (photo)From the Magnolia Collection. Est. 8,000-10,000

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Pleasing Early Half Eagle Type

8

8 1806 “Round 6, 7 x 6 Stars” 5 Dollars. PCGS AU53. Breen-6448, BD-6, R.2. MintageEstimate: 64,093. While five Bass-Dannreuther (BD) die marriages are known for the date,the majority (est: 35,000-50,000) come from the single “Round 6” marriage that shows arounded rather than pointed top of the six in the date that firmly settles up against Liberty’sdrapery. For this reason, BD-6 is often collected for type with surviving examples in all grades,including superb Mint State. Another major distinction of the type is the difference in starplacement as the “Round 6” type shows a 7x6 split whereas the “Pointed 6” has a 8x5 split.A peculiar diagnostic is also seen on the reverse as the A’s in AMERICA are visibly smallerthan the other letters.The present specimen reveals light evidence of circulation, primarily confined to Liberty’s por-trait on the obverse as well as the eagle’s wings on the reverse. The centers confirm a strongstrike with some reverse peripheral softness between 2 and 5 o’clock where the strike positionsslightly off the flan. One short pinscratch, while fairly trivial, is evident above Liberty’s cap andno other marks are deserving of individual mention. A splendid representative for the earlytype enthusiast. (photo)From the Magnolia Collection. Est. 4,000-6,000

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Choice AU Capped Bust Type

9

9 1807 Bust Left 5 Dollars. PCGS AU58. Breen-6453, BD-8, R.2. Mintage Estimate (BustLeft): 50,597-51,605. A transitional year for the Half Eagle with the year’s early productionfeaturing the Draped Bust of Robert Scot and later emissions reflecting John Reich’s CappedBust style. Of the two die pairings seen for the 1807 Capped Bust type, BD-8 is by far themost prolific die, with an estimated survival rate of 500-750 that places it among the mostavailable of all early gold. The variety is easily distinguishable as the point of the “5” in “5 D.”on the reverse nearly connects with the arrow quill.A gorgeous type representative with bright yellow-gold surfaces that contain the majority oftheir original luster. Besting the majority of its brethren, the surface detail is particularlynotable with complete star formation along the obverse legends with knife-like sharpness leftwithin the central devices. Friction is barely evident, but noted with the aid of magnificationand confirms the grade level. Minor meandering marks are visible and mostly confine them-selves to the left obverse field, but all remain consistent with the grade. Soft orange-gold high-lights round out the appeal. Sure to be hotly pursued by the advanced type collector. PCGSPopulation: 31 in 58, 152 finer. (photo)From the Magnolia Collection. Est. 5,000-7,000

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Exceptional Near-Gem 1809/8 Five

One of the Finest Known

10

10 1809/8 5 Dollars. PCGS MS64+. Breen-6458, BD-1, R.3+. Mintage: 33,875. The over-date was the only die pairing used in 1809, and while metal undoubtedly sits beneath the 9in the date, Dannreuther suggests that it may in fact be remnants of a previous 9 instead ofthe often accepted 8. While not the rarest date in the series, it is presumed that around 350exist in all conditions and because of the popularity of the variety, demand in any grade is sig-nificant. Of benefit to type collectors is a survival estimate in Mint State of around 150 withGem survivors however plummeting to around 10. Combined PCGS and NGC populationreports sit slightly over these amounts with 416 (total), 195 (MS), and 14 (Gem) and withresubmissions, the estimates, while likely conservative, aren’t outside the realm of possibility.While the “+” designation is still in its relative infancy, the present example is the only one toreceive the “+” and given its closeness to the Gem designation, significant merit is worthy.Quality-wise, this Half Eagle is fully Gem in appearance and the epitome of originality as athick orange-gold luster envelopes the surfaces with sunset tinges near the edges. The strikeis notably strong and nearly full with only minor planchet adjustment marks (as-made) alongportions of the rims that prevents completeness. In accord with the Gem level, inspectionreveals no major abrasive contact marks with only minor grazes above the eagle’s head thatmight serve to limit the third-party anointment of the Gem moniker. For the collector of earlygold, the significance of the present offering need not be explained and for the type enthusi-ast, the explanation could be given similar brevity - a monumental, seldom rivaled opportuni-ty. PCGS Population: 1 in 64+, 5 finer. (photo)From the Magnolia Collection. Est. 40,000-50,000

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Nearly Mint State Early Half Eagle

11

11 1810 “Large Date, Large 5” 5 Dollars. PCGS AU58. Breen-6459, BD-4, R.2. Mintage:100,287. The most available of the four die pairings for the date with a “Large Date” on theobverse and “Large 5” in the reverse denomination. According to Early U.S. Gold CoinVarieties by noted researcher John Dannreuther and legendary collector Harry Bass, some-where in the neighborhood of 500-750 examples of this pairing are extant, making it the mostfrequently encountered of the date and thus commonly collected for type.Like many of the examples in The Magnolia Collection, the strike on the present example isexemplary with fully detailed reeding, boldly impressed stars and confidently segmentedeagle’s feathers. While several very light adjustment marks are noted on Liberty’s cheek, theoverall definition is surely enough to qualify for the 90th percentile for the date. As is sug-gested by the grade, significant, nearly full luster remains on both sides with yellow-gold colorin the fields and trace amounts of rose color around the edges. Today, much like the previousRobert Scot designed Draped Bust type, the John Reich designed Capped Bust type is con-sidered a numismatic classic and for those who can afford an example, rarely is the opportu-nity passed up. (photo)From the Magnolia Collection. Est. 5,000-7,000

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Delicately Circulated “Coin Turn” Gobrecht Dollar

12

12 1836 Gobrecht Dollar. PCGS PR55. J-60 - Original, R.1. Mintage: 1,600 - 1,000 in cointurn. Silver - 27gms. Designer: Christian Gobrecht.Obverse: Liberty seated right with head turned left, cap on staff in left hand, Liberty shieldheld by right; incuse “C. GOBRECHT. F.” on base.Reverse: Die Alignment I (Liberty’s head opposite D in Dollar). Eagle flying left with 26 starssurrounding.Edge: Plain.Rarity: Reports show that by December 31, 1836, the original mintage of 1,000 that makesup the “coin turn” variety were struck. Today, many of these originals show some evidence ofcirculation. While the population reports make it difficult to segment out the “original” - cointurn from “second original” - medal turn, it appears the combined population for J-60 sitsnear 450 with around half showing some form of circulation.Commentary: While recorded in the Judd pattern book and for ages collected alongside pat-terns, the J-60 Gobrecht dollar is technically an issue meant for circulation. For that reason,“original” issues are necessities of by-the-book type collectors and perennially in demand.Diagnostics for determining first “originals” are fairly simple - the alignment is coin turn andfree from die rust. The omission of a die gouge or die clash above the eagle’s wing furtherclassifies the present example as an early December strike. For the collector who has decidedit’s time to take the plunge, the present specimen is ideal with maintained reflectivity in thefields and only minor friction on the devices. The strike is also notably sharp and the toningpleasing with an overall eye appeal that is commensurate with the high end of the grade level.(photo)From the Magnolia Collection. Est. 8,000-10,000

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Choice “Original” Gobrecht Dollar

13

13 1836 Gobrecht Dollar. PCGS PR62+. J-60 - Original, R.1. Mintage: 1,600 - 600 in medalturn. Silver - 26.8gms. Designer: Christian Gobrecht.Obverse: Liberty seated right with head turned left, cap on staff in left hand, Liberty shieldheld by right; incuse “C. GOBRECHT. F.” on base.Reverse: Die Alignment IV (Liberty’s head opposite OF). Eagle flying left with 26 stars sur-rounding.Edge: Plain.Rarity: One of the 600 examples that were struck in medal turn in March of 1837 and whiletechnically a restrike, they are often termed “second original” strikings. To date, PCGS hascertified 40 examples of this “original” type with only 9 qualifying as finer. The present exam-ple stands as the only “plus” graded specimen.Commentary: Carrying the appearance of a fully Select example with significant reflectivity inthe lightly golden fields and a ring of color on the obverse and reverse rims that adds attrac-tive highlights. The strike is fully defined and from crack-free dies. One die gouge (as-made)resides on the eagle’s right wing. While items at the Proof 62 level are often unsightly, the sta-tus quo fails to apply on the present example as hairlines are light and unabrasive where pre-sent and the overall appeal is of that of a much higher graded coin. A wonderful opportunityto obtain a ton of eye appeal at what will likely be a fraction of the cost of higher graded exam-ples. (photo)From the Magnolia Collection. Est. 20,000-25,000

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Popular 1856 Flying Eagle Cent

14

14 1856 Flying Eagle 1 Cent. Proof Details, Whizzed. J-180. Snow-9. Mintage Estimate:2,000.Designer: James B. Longacre.Obverse: Eagle flying left.Reverse: Bow tied wreath with ONE CENT at center.Edge: Plain.Rarity: It is generally thought that from the total mintage of 2,000 around 600-800 speci-mens exist today as many examples found their way into circulation. The present specimen,listed by small cent expert Rick Snow as a Snow-9, makes up the majority of examples fromthe date and is identified by a small die chip below the top left serif on the N in CENT on thereverse. Most Snow-9s are classified as proofs and today, it is hypothesized that examples wereactually struck post-1856 to satisfy growing collector demand for the date.Commentary: Technically a transitional pattern, the 1856 Flying Eagle was the most prolifi-cally produced of all pattern issues and as a result is collected alongside circulating dates. Evenso, because of its relative scarcity when compared to other key date circulating issues such asthe 1877 Indian cent and the 1909-S VDB and 1955/55 Lincoln cents, it is considered at thepinnacle of collectibility. Like most examples of the Snow-9 die pairing, the present is impec-cably struck with full detail down to the veins in the leaves on the reverse wreath. Even red-dish-brown color is spread throughout, and both sides maintain a lustrous shimmer as a resultof the “damage”. While it is indeed unfortunate that the present example has lost its original-ity, it will unquestionably excite the collector that wishes to call a collection completed, yetlacks the funds to purchase a similarly detailed, but decidedly more expensive problem-freeexample. (photo)From the Magnolia Collection. Est. 5,000-7,000

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Choice Copper “With Motto” Seated Dollar

15

15 1865 Seated Dollar. PCGS PR64 Brown. J-435, Low R.7. Copper - 25.3gms.Designer: Christian Gobrecht/Christian Gobrecht adaptation with added motto.Obverse: (Regular Dies) Liberty seated right with head turned left, cap on staff in left hand. Reverse: (Regular Dies for 1866-1873 issue) Shielded eagle at center with talons holdingthree arrows in one and an olive branch in the other; “In God We Trust” motto above.Edge: Reeded.Rarity: Ten example were reportedly struck and Judd confirms this range with the assignmentof a Low R.7 rating (7-12 examples extant). The third-party census data suggests that resub-missions (or possibly an inaccurate mintage reporting) have in fact occurred with PCGS show-ing 7 examples in their report and NGC reflecting the same amount. In recent years, a num-ber of examples have made it to auction with the Lemus Collection specimen (tied for thefinest known) selling for $18,400.Commentary: While inspection would suggest that the present example was made in 1865 asa transitional trial for the “with motto” reverse that was adopted in 1866, research suggeststhat it was in actuality a fantasy piece issued in sets for collectors between 1869 and 1870.According to USPatterns.com “the first definite sales occurence for an 1865 with motto setwas in the October 1870 Mason & Company sale of the Fewsmith Collection.” The presentexample carries with it a unique appearance that mimics that of a brass specimen as the sur-faces have toned an almost uniform mustard-yellow with only traces of copper color and iri-descent shades when turned under a light. The strike is as bold as one might expect from acarefully produced collector proof. An impressively presented pattern issue that would sit per-fectly alongside an accomplished Seated dollar or pattern collection. (photo)From the Magnolia Collection. Est. 3,000-4,000

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Deeply Cameoed Indian Princess Dollar

From the J. Hewitt Judd Collection

16

16 1871 1 Dollar. PCGS PR64+ Deep Cameo. J-1127, R.8. Silver - 25.6gms.Designer: James Barton Longacre/Christian Gobrecht adaptation with added motto.Obverse: Indian princess seated on globe facing left with cap on staff in right hand and armswith 13-starred flag behind; initials J.B.L at lower right base.Reverse: (Regular Dies). Shielded eagle at center with talons holding three arrows in one andan olive branch in the other; “In God We Trust” motto above. Saul Teichman, pattern spe-cialist, notes that “this reverse die is the same as the one used to strike 1866 copper dollarsand at least some of the 1865 In God We Trust dollars.”Edge: Plain.Rarity: While it is presumed that 3-4 examples of the present plain edge pattern exist, only asingle example has appeared since 1990. That appearance, a part of the January 2009 sale ofthe Lemus Collection by Heritage, was graded Proof 63 by NGC. The present example, thefinest graded, is only the second to appear in any grade (the only by PCGS) and the onlyexample graded in Deep Cameo.Commentary: A gorgeously presented specimen that was struck by William Barber as it isunlikely that it was struck with future-dated dies before Longacre’s death in 1869. The appear-ance, although designated by PCGS as otherwise, unquestionably holds a Gem appearancewith deep watery central mirrors that contain numerous obverse die scratches (as-made).Beautiful color-tinged rims are visible on both sides with amber-orange, navy-blue, andmaroon color on the obverse with fairly shallow amber-orange color around the reverse leg-ends. The central cameo contrast is substantial with thick frost being inescapable of the eye’sattention. Several minor toning spots on the globe and the princess’ drapery serve as appro-priate pedigree identifiers. With little question, the finest representative of this rare plain edgepattern known and among the most special items offered as a part of The Magnolia Collection.(photo)Ex. Judd Collection; From the Magnolia Collection Est. 40,000-50,000

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Iconic James Longacre Designed Pattern Silver Dollar

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17 1871 Standard Dollar. PCGS PR62. J-1133, High R.6. Silver - 25.4gms.Designer: James Barton Longacre.Obverse: Indian princess seated on globe facing left with cap on staff in right hand and armswith 13-starred flag behind.Reverse: “1 Dollar” at center surrounded by wreath; “Standard” at top legend.Edge: Reeded.Rarity: Judd estimates the survival of between 13-20 examples for 1133 with USPatterns.comsuggesting an amount over 12. PCGS to date has graded 9 example with 8 having been cer-tified by NGC. An NGC-graded Proof 66 Cameo currently exists as the finest known. Commentary: An iconic pattern design by James Longacre that was executed by WilliamBarber after Longacre’s death. As suggested by the grade, moderate hairlines cross the fieldswith astounding depth still remaining on the contrast-free surfaces. Like many examples in thecollection, long-term storage has resulted in an attractive ring of gold and multicolored pati-na. When inspected with a loupe, double striking is evident and most notable around “STAN-DARD”. A phenomenal and relatively affordable example with a legendary pedigree. (photo)Ex. Farouk Collection; From the Magnolia Collection. Est. 3,000-4,000

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Rare “Plain Edge” Pattern Dollar, Ex. Farouk Collection

18

18 1871 Standard Dollar. PCGS PR61. J-1140, R.8. Silver - 25.6gms.Designer: James Barton Longacre. Obverse: Indian princess seated on globe facing left with cap on staff in right hand and armswith 22-starred flag behind.Reverse: “1 Dollar” at center surrounded by wreath; “Standard” at top legend. Edge: Plain.Rarity: According to Judd, no examples of 1140 have appeared at auction since 1990 with apresumed existence of 2 or 3 examples. While one specimen is traced to an 11/73 Kagin’s sale,it is quite likely that example and the present are the same. The population reports confirmextreme rarity as until the present, none had been certified.Commentary: Well struck and boldly mirrored with design elements that show little to nocontrast with the fields. Both sides hold light toning with a well-defined ring on the obversethat clings tightly to denticles and a more wafting, cloudy appearance to the reverse patina.Light diagonal hairlines are evident in the obverse and reverse fields with a pinscratch comingfrom Liberty’s shin as well as one just above her headdress. For the specialist, this withoutquestion marks a “can’t miss” occasion to acquire what is considered to be one of the mostdesirable pattern designs and an example that holds essentially unsurpassable rarity as it is quitepossibly the only example held in private hands. (photo)Ex. Farouk Collection; From the Magnolia Collection. Est. 20,000-25,000

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Near-Select Deep Cameo Indian Princess Pattern

19

19 1871 1 Dollar. PCGS PR62+ Deep Cameo. J-1145, Low R.7. Silver - 25.6gms.Designer: James Barton Longacre/Christian Gobrecht adaptation with added motto.Obverse: Indian princess seated on globe facing left with cap on staff in right hand and armswith 22-starred flag behind.Reverse: (Regular Dies) Shielded eagle at center with talons holding three arrows in one andan olive branch in the other; “In God We Trust” motto above.Edge: Reeded.Rarity: The Judd book notes that a single example has been sold through auction since 1990.Certified examples appear slightly more frequently, with a total of ten (PCGS-7/NGC-3) hav-ing made the censuses. To date, only one other example of the ten has merited the Cameo orDeep Cameo level, with that example being the finest known and grading Proof 67 DeepCameo by NGC.Commentary: Fully struck with watery mirrors and thick frost on exhibition in the centers. Avibrant ring of patina encircles the obverse with stunning pumpkin-orange coloration on thereverse. Hairlines, while present, are very light and do little to diminish the overall appearance.In all, an impressive example that holds a much higher eye appeal than the grade would sug-gest. (photo)Ex. Judd Collection; From the Magnolia Collection Est. 15,000-17,000

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Unsurpassable Aluminum Seated Dollar

20

20 1871 Seated Dollar. PCGS PR67 Cameo. J-1152, R.8. Aluminum - 7.2gms.Designer: Christian Gobrecht/Christian Gobrecht adaptation with added motto.Obverse: (Regular Dies) Seated Liberty with cap on staff in left hand and shield at base; 7 starsat left, 6 at right.Reverse: (Regular Dies) Shielded eagle at center with talons holding three arrows in one andan olive branch in the other; “In God We Trust” motto above.Edge: Reeded.Rarity: General consensus is that 3-4 pieces of the current type exist, but in actuality, thatnumber might be less. The Judd book reports that one example of this aluminum type wassold by Superior in 1989 and was graded by PCGS as proof 65. However, prior to the cur-rent specimen, no examples of Judd-1152 were present in the PCGS population report, sug-gesting a misattribution at time of certification that was later corrected. No examples havebeen certified at NGC, making the present example the lone certified example. Inspection ofauctions confirms extreme rarity, as no examples are traceable through major auctions in thelast 20 years.Commentary: Often termed a die trial, the current piece is actually more-so a presentationpiece as it was included in sets made specifically for collectors. The current specimen repre-sents a pinnacle of appeal in numismatics as the tone-free surfaces showcase absolutely fulldetailing with endless mirrors and even frost on the devices. Only the most trivial grazes pre-clude a finer grade. Given the softness of the medal, and the survival condition of similarissuances, the present example is truly a marvel and one that is all but assured placement in anelite pattern or Seated dollar collection. (photo)From the Magnolia Collection. Est. 25,000-30,000

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Fully Gem Commercial Silver Dollar

21

21 1872 Commercial Dollar. PCGS PR65+ Cameo. J-1219, Low R.7. Silver - 27.2gms.Designer: Christian Gobrecht/James Barton Longacre.Obverse: (Regular Die) Seated Liberty with cap on staff in left hand and shield at base; 7 starsat left, 6 at right.Reverse: “Commercial Dollar” surrounding cornucopia at center with weight and finenessbelow; surrounded by wreath that is tied by “God Our Trust” ribbon.Edge: Reeded.Rarity: According to USPatterns.com “about a dozen are known in silver including examplesin the Smithsonian, ANS, Connecticut State Library and Harry W. Bass, Jr. ResearchFoundation.” Nine examples currently sit within the PCGS and NGC population reports withthe present being the lone cameo-certified example. Of the five now certified at PCGS, thissits as the sole Proof 65 (or +) behind a single Proof 66. NGC shows a single Proof 65 as itsfinest graded example.Commentary: A scintilating example with bold cameo contrast between the jet-black fieldsand the pearl-white devices on the obverse with softer, yet still defined contrast on the reverse.The strike shows impeccible intricacy with needle-sharp detail throughout. Patina only servesto enhance the appeal of this representative with color mostly confined to the rims on theobverse with a delightful blend of antique-gold, maroon, and blue shades that encroach onthe reverse centers. Grade-limiting issues are essentially invisible to the unaided eye and giventhat the current example has gained the “+” as well as the cameo designation, it surely mustbe considered for the most desirable survivor. (photo)From the Magnolia Collection. Est. 15,000-17,000

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Collectible “Sailor Head” Pattern Trade Dollar

22

22 1873 Trade Dollar. PCGS PR63. J-1276, R.5. Silver - 27.2gms.Designer: William Barber.Obverse: Coronet head left; 13 stars around.Reverse: “Trade Dollar” at top center with weight and fineness below; surrounded by wreaththat is tied by “In God We Trust” ribbon.Edge: Reeded.Rarity: Judd states that between 35-75 of 1276 exist. Today, combined third-party census datarecords a total of 60 graded specimens - 6 of which have received the Cameo designation. Thepresent example is one of 11 graded at the Proof 63 level by PCGS and sits in the middle ofthe surviving examples in terms of condition.Commentary: A gorgeously designed Trade dollar pattern that was issued as singles and in setsof six to collectors for the then massive sum of $30. The present silver reeded edge specimenmaintains an attractive appearance with deep mirrors remaining in the fields and a light cameofrost on the obverse. Toning is generally confined to the legends with attractive antique goldthat frames the white centers. All design elements remain sharp and light hairlines that definethe grade. A relatively available type that would make a great introductory example for the col-lector looking to shift collecting direction or learn slowly about the universe of patterns.(photo)From the Magnolia Collection. Est. 2,000-2,500

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Sharply Rendered Pattern Trade Dollar

23

23 1873 Trade Dollar. PCGS PR62. J-1322, R.4. Silver - 27.2gms. Designer: William Barber.Obverse: (Similar to Regular Die) Liberty seated left on beach with olive branch in extendedright hand and sheaf of wheat behind. Reverse: Small eagle perched with ribbon in beak and arrows and branch in talons.Edge: Reeded.Rarity: Judd estimates that between 76-200 specimens of 1322 exist with examples appearingat auction around 3-5 times a year. PCGS has certified 42 with grades ranging from Proof 60-65 and NGC has graded 30 additional.Commentary: Essentially brilliant with light gold tinges around the edges. The strike isnotably sharp and light, but even hairlining defines the grade. Perhaps the most available pat-tern present in The Magnolia Collection and as such, a notable opportunity for the budgetedcollector who desires to own a piece of this impressive assemblage. (photo)From the Magnolia Collection. Est. 1,500-2,000

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Stunning “Liberty at the Seashore” Pattern

24

24 1875 Commercial Dollar. PCGS PR64 Cameo. J-1423, High R.7. Silver - 27.2gms.Designer: William Barber.Obverse: Liberty seated on “Liberty” globe with olive branch in right hand, arms and sheafof wheat behind, and illogical ship to sea at left; “In God We Trust” below in exergue.Reverse: “Commercial Dollar” surrounding cornucopia at center with weight and finenessbelow; surrounded by wreath that is tied by “God Our Trust” ribbon.Edge: Reeded.Rarity: Six examples of this type were originally struck in silver and noted pattern specialistSaul Teichman believes that five of those can be accounted for today. Given that the previousorigins of the present specimen are unknown, we are unsure whether it is the sixth and finalrepresentative to surface, or one counted in the census. The current PCGS population reportshows two examples at the Proof 62 level. NGC has graded four examples with the finest,graded Proof 66, selling as a part of the landmark Lemus Sale. The present example is the onlyone to receive a Cameo designation. Given the total certified population, we presume that atleast one is the result of a resubmission.Commentary: Considered a muling, the present example is the combination of a patternTrade dollar obverse and the Commercial dollar reverse. The surfaces of both sides remainbrilliant in the center with light, mostly amber patination around the rims on the obverse witha thicker and more vibrant ring on the reverse. The cameo contrast is quite pronounced onboth sides and helps to enhance the appeal. Faint hairlines define the grade. Generally con-sidered among the most beautifully designed patterns and given its infrequent appearance andhigh-end appeal, one would expect feverish bidding until the hammer falls. (photo)From the Magnolia Collection. Est. 20,000-25,000

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Seldom Offered William Barber Designed Pattern

25

25 1876 1 Dollar. PCGS PR64 Red Brown. J-1458a, High R.7. Copper - 26gms. Designer: William Barber.Obverse: Liberty head facing left with coronet. Reverse: “ONE DOLLAR” inside bow-tied open laurel wreath.Edge: Reeded.Rarity: Judd estimates that between 4-6 examples of 1458a exist. While likely high as a resultof resubmissions, the PCGS population reflects that six examples have been graded and theNGC report shows two examples. Nonetheless, specimens seldom reach the market with thelast traceable example to sell at auction being in September of 1995 by Heritage. More recent-ly, Stack’s offered an example in the same grade as the present, but it did not sell. Two otherofferings of the design have been offered in recent years with a silver example, listed as R.8,realizing $63,250 and a presumed unique copper example with a plain edge reaching$74,750. Commentary: Delicate red color traverses the majority of both sides with iridescent rainbowpatina becoming apparent when angled against a light. Close inspection reveals heavy die pol-ish on Liberty’s portrait and softer lines (as-made) in the obverse and reverse fields. While nota significant deterrent to the eye appeal, several minor carbon flecks are noted on the obverseand likely prevented the Gem desingation. For the collector attempting to assemble a groupof patterns by design, the present example screams of importance as the other two types forthe design have essentially proved, in a similar fashion to the present example, to be unavail-able and as such uncollectible. (photo)From the Magnolia Collection. Est. 8,000-10,000

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The Only PCGS-Certified Judd – 1465

26

26 1876 1 Dollar. PCGS PR64 Brown. J-1465, High R.7. Copper - 25.7gms. Designer: William Barber.Obverse: Liberty head facing left with beaded coronet; stars 7 x 6. Reverse: “One Dollar” inside bow-tied open laurel wreath.Edge: Reeded.Rarity: The Judd reference suggests that between 7-12 examples of 1465 exist andUSpatterns.com believes this number sits around a half dozen. Looking at both the PCGS andNGC populations reports, and tracing the appearance at auctions, the number is likely closerto the low end of estimates rather than higher. To date, NGC has certified three examples withthe finest being Proof 66 Red Brown. While sales occur infrequently, one of the NGC-grad-ed examples in Proof 65 Red Brown condition was sold in January of 2007 for $46,000.Previous to the present, no example had been certified by PCGS. Commentary: A stunning near-Gem example of William Barber’s eloquently portrayed SailorHead pattern with protected areas that are highlighted by salmon-pink coloration and fieldsthat have toned to an attractive mixture of sky-blue and lilac color. Grade-limiting issues arefew and far between and what appears to be a partial fingerprint fragment around 2 o’clockon the obverse likely precluded the Gem moniker. A considerable opportunity for the expertcollector to add what ranks high among the most desirable pattern issues. (photo)From the Magnolia Collection. Est. 15,000-17,000

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Gem Aluminum Goloid Metric Dollar

Perhaps Unique in Private Hands

27

27 1879 Goloid Metric Dollar. PCGS PR65. J-1620, R.8. Aluminum - 6.4gms. Designer: William Barber.Obverse: Bust of Liberty facing left with “Liberty” on tiara; 7 stars left and 6 at right dividedby date and motto at top and bottom.Reverse: Beaded inner circle with composition and weight measurements; wreath surroundsinner beads with “DEO EST GLORIA” in fancy cartouche above that completes wreath.Edge: Reeded.Rarity: Judd lists 1620 as 2-3 examples extant with no examples being sold at auction since1990. According to Judd, the last appearance was in March of 1981 in a Paramount auction.The present specimen now stands as the only example in either the PCGS or NGC popula-tion reports.Commentary: A breathtaking aluminum pattern with a similar obverse design to the famedHalf Union $50 pattern. The surfaces, as the Gem grade would suggest, are lovingly preservedwith a full strike and gleaming fields. Trivial light haziness, as is common of aluminum pat-terns, is present with a couple dark aging specks on the rims. Also worthy of notation arenumerous laminations on the obverse with one lamination on Liberty’s temple showing metal,while still attached, actually sticking up from the surface. Given previous appearances of thistype on the marketplace, we feel confident in heralding the present opportunity as “once in alifetime” for the determined pattern collector. (photo)From the Magnolia Collection. Est. 20,000-25,000

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Well Preserved George Morgan Designed Pattern Dollar

28

28 1880 Goloid Metric Dollar. PCGS PR65+ Red Brown. J-1649, Low R.7. Copper -20.9gms.Designer: George Morgan.Obverse: Bust of Liberty facing left with “Liberty” on tiara; 7 stars left and 6 at right dividedby date and motto at top and bottom.Reverse: Beaded inner circle with composition and weight measurements; wreath surroundsinner beaded circle with “DEO EST GLORIA” in fancy cartouche above that completeswreath.Edge: Reeded.Rarity: USpatterns.com believes approximately a dozen examples of the 1649 exist in copperwith the Judd reference confirming a believed existence between 7-12. The grading servicepopulation falls within this range as four examples each have been graded by PCGS and NGC.The current specimen is the only “plus” graded specimen in the population reports and sitsjust below three Proof 66s.Commentary: Considered one of the least visually inspired patterns to be produced by theMint with a fairly nondescript Liberty’s portrait highlighting the obverse. Like many of thesurvivors for the date, the present has been impressively preserved with rich blended maroon,red, and violet color in the fields and soft sky-blue color atop much of the devices. A pinpointstrike confirms the distinguished appearance as no distractions are worthy of note. A lovelyexample that is sure to fit ideally into an advanced pattern or dollar collection. (photo)From the Magnolia Collection. Est. 6,000-8,000

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Breathtaking Double-Headed Morgan Dollar Design

29

29 1879 (ca. 1900) Pinches Double-Headed Morgan Dollar. Select Red Brown Proof.Judd-Unlisted. P-5135. R.8. 39mm/19.2gms-Copper. A fascinating emission that featuresslightly varying Morgan dollar dies struck in coin rotation with a plain edge. Attributed toJohn Harvey Pinches, who was a London medalist that worked for the family business thatwent under the same name - Pinches’. According to a 1987-dated Coin World article, this nov-elty creation was made around 1900 to illustrate the possibilities of reverse die engineering.Q. David Bowers in his Silver Dollar Encyclopedia confirms that “Pinches had a very advancedtechnology for making transfer dies from existing coins, for the few known specimens struckfrom these dies are all as fine as the Philadelphia products.” Careful study of the coins them-selves confirms that this is in fact the case, and one has to wonder how this seemingly stillunknown process was executed. What is known, is that examples were created in very limitednumber and today, it is presumed that one example exists in silver, two in copper-nickel, andtwo (the present example) in copper. To the best of our ability, a recreation of the where-abouts of all examples is as follows:1) Silver (P-5125): John Harvey Pinches Estate; Glendining’s sale of the John Harvey PinchesEstate - 7/47; Glendining’s sale of 11/87; Eric Green; Private sale at the 1988 New YorkInternational Numismatic Convention; ANR - 7/05, lot 77.2) Copper-Nickel (P-5130): John Harvey Pinches Estate; Glendining’s sale of the JohnHarvey Pinches Estate - 7/47; Private sale in London in 1972; ANR - 7/05, lot 78.3) Copper-Nickel (P-5130): John Harvey Pinches Estate; Glendining’s sale of the JohnHarvey Pinches Estate - 7/47; Bowers and Ruddy - 11/74; Bowers and Merena - 1/84.4) Copper (P-5135) - the presumed current specimen: John Harvey Pinches Estate;Glendining’s sale of the John Harvey Pinches Estate - 7/47; Bowers and Ruddy - 2/74; ourcurrent consignor.5) Copper (P-5135): John Harvey Pinches Estate; Glendining’s sale of the John HarveyPinches Estate - 7/47; Bowers and Merena - 11/74; Bowers and Ruddy - 6/80; Auction 88.Close inspection of the present specimen reveals swirling die polish on the surfaces of bothsides with peculiar reeding on one side. The fields remain lightly prooflike with multiple strikes(more than two) evident in widely varying placement. An item with multiple appeals, it iswithin reason that this rarity winds up in the collection of a pattern specialist, a Morgan dol-lar collector, or an accumulator of numismatically historic items. (photo)From the Magnolia Collection. Est. 3,000-4,000

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30

30 1841 Seated Dollar. PCGS Genuine. Mintage: 173,000. Graded Genuine by PCGS withthe accompanying “91” code for Questionable Color. An intriguing specimen that was soldto our consignor as a proof with an accompanying flip that reads “1841 Liberty SeatedDollar/ Choice Br. Proof/ Cat. $1000.00.” Upon close inspection, the die lump that is seenon the second A in AMERICA on all known proofs is missing, thus confirming a businessstrike designation. The surfaces are graced with a splotchy deep blue patina and the underly-ing surfaces show confirmed reflectivity. The color, while atypical of business strikes, is verysimilar in appearance to many proof issues of the era as a result of the storage method takento reduce hairlines. Given our knowledge of the storage methods of this particular piece, wemust therefore disagree with PCGS’ Questionable Color assessment. All devices remainsharply detailed throughout with far above-average definition in the stars and within the cen-tral motifs. Perhaps lightly cleaned at one time. For the collector looking to obtain an exam-ple that convincingly mimics one of the excessively rare 1841 proof specimens, the presentcertainly should be targeted. (photo)From the Magnolia Collection. Est. 600-800

31

31 1857 Seated Dollar. Uncirculated Details, Lightly Cleaned. Mintage: 94,000. Like manyof the surviving examples from this date with Uncirculated detail, the present example main-tains fully prooflike fields with light hairlines that are primarily confined to the obverse fields.While the central striking detail is meticulously rendered, some peripheral weakness is notedwith many stars lacking complete definition. Seldom offered without evidence of circulation.(photo)From the Magnolia Collection. Est. 1,000-1,200

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Uncommon Complete 14-Coin Proof Set

32 1873 14-Piece Proof Set. 1873 marked an interesting year for American history, both inside the realm of numismatics and out. Outside of numismatics brought aboutsuch events like the issuance of the first U.S. postcard. The Preakness, the popular annualhorse race that exists to this day, had its first running. Also of popular signifcance was thedebut of showman P.T. Barnum’s “Greatest Show on Earth”. The economic side saw the curi-ousity of women’s suffragette Susan B. Anthony being fined $100 for trying to vote for president. Of greater significance was the Panic of 1873. The panic resulted in a crash ofthe stock market and New York shut down its banks for a period of 10 days due to the bank scandal. Numismatically, 1873 saw the Mint Act or so-called “Crime of ’73,” whichended the circulation of odd-denominated coinage such as the two and three cent piece. Also,significant to this set, it extended the size of the 1873 proof set with the dime, quarter, andhalf dollar carrying arrows to mark a change in size in addition to the early issued sans-arrowtype. In all, given the framework of numismatic significance as well as overall scarcity of complete proof sets of the era, this presents an excellent opportunity to obtain one of themore important proof set dates in numismatics. The set, to be detailed below is well matchedand now resides in a custom Capitol Plastics holder. A true collection centerpiece and one ofthe many delightful gems of the collection.

1) 1873 “Closed 3” 1 Cent. Near-Gem Red Brown Proof. Mintage: 1,100.An attractive, mostly red specimen with significant reflectivity in the fieldsand light reddish-brown freckling that calls out the “Red Brown” moniker.2) 1873 2 Cents. Select Red Proof. Mintage: 600. Essentiallyfully red and seemingly free from mishandling with a cloudyoverlay that slightly mutes the field reflectivity. The final

year of two cent issue.3) 1873 “Closed 3” 3 Cent Silver. Near-Gem Cameo Proof.Mintage: 600. Deep watery mirror are showcased on both sideswith several minor evidences of handling that would prevent theGem designation.4) 1873 “Closed 3” 3 Cent Nickel. Near-Gem Proof. Mintage: 1,100.Mildly reflective in the fields with streaky milky patina over the surfacesas is typical of undipped examples. Several trivial carbon flecks and a

strike-through are noted on Liberty’s cheek, but do not preventthe Gem level.5) 1873 ½ Dime. Gem Proof. Mintage: 600. Orange-copper patina haloes the lightly toned centers with notable diepolish evident when placed under magnification.

6) 1873 5 Cents. Gem Proof. Mintage: 1,100. Available in only the “closed 3”format with soft reflectivity in the fields and wispy silver-tan patina over thesurfaces.

7) 1873 10 Cents. Gem Cameo Proof. Mintage: 600. Deepreflectivity is evident in the fields with speckled copper andpurple color on the obverse with minimal reverse patina.Quite appealing.

8) 1873 Arrows 10 Cents. Select CameoProof. Mintage: 800. Lightly colored along the rims withmostly brilliant centers.

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9) 1873 “Closed 3” 25 Cents. Near-Gem Proof.Mintage: 600. Boldly impressed and patinatedthroughout with watery mirror on both sides.10) 1873 Arrows 25 Cents. SelectProof. Mintage: 540. A desirableand low-mintage transitional

example with arrows at the baseof the date. Light color adorns both

sides with minor handling evident inthe fields.11) 1873 “Closed 3” 50 Cents. Proof.

Mintage: 600. Quite sharp with similar coloration tothe other silver specimens in the set. Soft hairlining isnoted and accounts for the grade.12) 1873 Arrows 50 Cents.

Select Proof. Mintage: 550. A particularly desirable issue marked by arrows at the date that symbolized the change in weight in the half dollar to a metricweight (slightly more than previously) of 12.5 grams. Given thatthe placement of arrows created a short-lived type, the presentexample is particularly desirable to collectors.

13) 1873 Seated Dollar.Gem Cameo Proof. Mintage:600. The final year of Seated dollar productionbefore the country switched the Trade dollar to the primary circulating dollar in the land. The surfaces of the present specimen have beenclearly carefully handled throughout the ages withno flaws evident without the aid of a loupe. Both sides are graced with stunningly attractive

outward-in toning thatshowcases varying

degrees of copper-orange, blue, and maroon patina. The centers show definite cameo devices and while the toning is rich, it failsto diminish mirror depth. Quite likely the finest preserved and presented item in the set.14) 1873 Trade Dollar. Select Proof. Mintage: 865.Beautifully patinated with a streaky presentation in thecenters that flattens out to gold, blue, and maroon colortoward the edges. Meticulously struck with stellar overall appeal. (photo)From the Magnolia Collection. Est. 20,000-25,000

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33 1875-S/CC Trade Dollar. AU Details, Cleaned. FS-501. Mintage: 4,487,000. A popularand scarce over-mintmarked issue with remnants of the iconic Carson City “CC” mintmarkvisible primarily to the right of the S on the reverse. The striking detail is full with a hint offriction atop the highpoint. Cleaning is evident on both sides and notably mutes the luster onthe reverse surfaces. (photo)From the Magnolia Collection. Est. 600-800

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34 1876 Trade Dollar. PCGS PR63+.Mintage: 1,150. Type One Obverse, Type Two Reverse.An interesting variety of this centennial-issued proof Trade dollar that shows the ends of the“Liberty” scroll that she holds in her hand pointing to the left, whereas other examples pointdown. Far above-average for the issue, as few proofs of this era are as nicely preserved. The fields shine with intense, largely unimpeded mirrors, and while not significantly contrasting, hold light frost on the devices. While not uncommon for the date, it is noted thatthe strike is short of full with several stars along the top obverse as well as Liberty’s head showing incomplete detail. Still, sure to be recognized by the astute collector for its state of preservation which easily outdistances the majority of its brethren. PCGS Population (Non-Cameo): 1 in 63+, 71 finer. (photo)From the Magnolia Collection. Est. 1,500-1,700

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35 1877-CC Trade Dollar. PCGS AU58 - Chop Mark. Mintage: 534,000. An impressiveexample of this scarce CC-Mint product. The fields remain boldly lustrous with light grazes.The strike is admirably portrayed with no areas of noted weakness. A single bold punch is pre-sent on the reverse and only slightly bows the corresponding obverse surfaces. Other evidenceof circulation is minimal with the barest trace of flattening evident when closely inspected. Athin ring of antique copper-gold and blue patina surrounds the edges and completes the eyeappeal. For the dollar specialist and more specifically the trade dollar specialist interested in theactual commerce involved with the type, the present example offers a seldom available oppor-tunity. PCGS Population (Chop Marked): 9 in 58, 6 finer. (photo)From the Magnolia Collection. Est. 1,200-1,400

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36 1879 Trade Dollar. PCGS PR64 Cameo. Mintage:1,541. While the Trade dollar ceased tobe legal tender in the United States in 1876, it continued to be struck for trade with Chinauntil 1878 at which time business-strike production was completely ceased and proof-onlyissues were made for collectors until 1885. Given the popularity of the series, and the largenumber of collectors in the dollar-collector universe, the importance of the 1879-1885 proof-only issues is profound - as not nearly enough were coined to satisfy demand with the high-est production date seeing a 1,987 coins and 1884 and 1885 being non-collectible due tomintage of 10 and 5 respectively. The present specimen, the beginning of the proof-only run,is stunningly preserved with limited distractions in the fields or elsewhere, a mild, but appar-ent cameo contrast on both obverse and reverse central designs, as well as reverse legends thatare highlighted by appealing color. A small lintmark running up from Liberty’s right shoulderas a pedigree marker. A wonderful opportunity for the specialist. PCGS Population (Cameo):37 in 64, 22 finer. (photo)From the Magnolia Collection. Est. 3,000-3,500

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37 1880 Trade Dollar. PCGS PR63+ Cameo.Mintage: 1,987. The most abundantly producedof the proof-only issues with a pleasant cameo contrast on the devices, a strike that is just shortof full, and mirror depth that is watery and seemingly unending. Amber-copper patina high-lights the peripheries with flares that reach for the centers on the reverse. An immensely attrac-tive example and for the type or date collector, an ideal candidate. PCGS Population (Cameo):1 in 63+, 78 finer. (photo)From the Magnolia Collection. Est. 1,700-2,000

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38 1880 Morgan Dollar. PCGS PR62. Mintage: 1,355. An attractive proof issue with theknife-like striking details that one would expect from a proof and essentially brilliant centersthat give way to a shallow ring of gold and multicolored patina at the edges. Light cameo con-trast is visible on the obverse with little of the same effect on the reverse. Field hairlines limitthe grade. PCGS Population (Non-Cameo): 56 in 62, 265 finer. (photo)From the Magnolia Collection. Est. 1,000-1,200

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Spink Smythe is pleased to announce that we will be accepting credit cards as payment

for purchases up to $20,000.00 with no administrative fees, if paid within 7 days after

the close of the auction. For assistance with this type of payment, please contact

Patricia Gardner or Sam Qureshi. 972-788-2100


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39 1881 Trade Dollar. PCGS PR63.Mintage: 960. The 1881-dated proof Trade dollar standsout as carrying the lowest mintage, outside of the non-collectible 1884 and 1885 dates, of allthe proof-only issued Trade dollars. The present specimen, with a decided cameo contrast onboth sides, is sure to competently fill the dates often-seen hole in a collector’s set as the fieldsshow little mishandling. Fiery copper-gold and cobalt tinges that cling to the edges on thereverse complete the appeal and solidify the desirability of the offering. PCGS Population(Non-Cameo): 96 in 63, 146 finer. (photo)From the Magnolia Collection. Est. 2,000-2,500

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40 1882 Trade Dollar. PCGS PR63+ Cameo.Mintage: 1,092. A proof-only date for the Tradedollar and as such, a necessary example for collectors by date. The current specimen, in themiddle of the condition census maintains remarkable depth in the mirror and is most notablefor its far above-average frost on the obverse and reverse devices. Needle-sharp detail is appar-ent throughout and the rims are nicely squared. As with numerous examples in this collection,the centers remain largely tone-free with fiery multicolored patina that clings primarily to therims. A delightful specimen that is sure to attract much attention. PCGS Population (Cameo):1 in 63+, 47 finer. (photo)From the Magnolia Collection. Est. 2,000-2,500

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41 1883 Gold Dollar. PCGS MS66.Mintage: 10,800. A soft honey-gold specimen with flashyluster in the abrasion-free fields and intricately detailed devices. (photo - enlarged)From the Magnolia Collection. Est. 1,200-1,400

42 1883 Gold Dollar. PCGS MS66.Mintage: 10,800. A fabulous, seldom-rivaled example withthick frost on the devices and only the most trivial fleck on the obverse portrait that precludesthe Superb level. (photo - enlarged)From the Magnolia Collection. Est. 1,200-1,400

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43 1908 No Motto 20 Dollars. PCGS MS65+. Mintage: 4,271,551. Exceptionally preservedand boldly detailed with even honey-gold color in the mark-free fields. While the date isunquestionably a common one, it is avidly pursued for type, and the current specimen is sureto admirably fill that void. (photo)From the Magnolia Collection. Est. 1,400-1,600

44 Remainder of U.S. Coinage. A desirable group that contains, but is not limited to a proofIndian cent, a proof 1937 Walking Liberty half dollar, a half dollar type set, an 1850 gold dol-lar, and an 1834 five dollar gold piece. Certain to attract significant collector attention. [17]From the Magnolia Collection. Est. 1,000-1,200

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45 Byzantine Empire. Constantine X. Ducas. 1059 - 1067 A.D. AV HistamenonNomisma. VF. DOC 1a. SB 1847. 4.3gms. Constantinople Mint. Obv: Radiant Christenthroned facing. Rev: Constantine standing facing, holding labarum in right hand, globuscruciger in left. Double struck on the obverse upon a nicely rounded flan. Typical scratchesappear along the upper reverse borders. (photo)From the Magnolia Collection. Est. 200-400

46 Byzantine Empire`. Alexius L. Comnenus. 1081-1118 A.D. AV Hyperpyron. VF. Sear-1912, Ratto-2057. 4.4gms. Constantinople Mint (post-reform coinage). Obv: Radiant Christenthroned facing, right hand raised, gospels in left hand. Rev: Crowned emperor stands fac-ing with globus cruciger in left hand, labarum in right hand. Several flan cracks show near 6o’clock with a sliding strike on the right reverse surfaces that distorts the design. Void of theoften-seen flan scratches. (photo)From the Magnolia Collection. Est. 200-400

B I D D I N G A S S I S T A N C E

A number of our most successful bidders telephone us prior to our auctions to ask for bidding advice, opening bids and for pre-sale estimates on selected lots. We welcome your call to answer any

questions you have or to help you in preparing your bids. Please ask for Jim Fitzgerald for currency; Matt Orsini for coins;

and Robert Litzenberger for autographs and stocks & bonds. 972-788-2100 or 800-556-7826.


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47 Cuba. 1915-1916 6-Piece Gold Type Set.1) 1916 1 Peso. Uncirculated. KM-16.2) 1916 2 Pesos. AU. KM-17.3) 1916 4 Pesos. AU. KM-18.4) 1916 5 Pesos. AU. KM-19.5) 1916 10 Pesos. Choice AU. KM-20.6) 1915 20 Pesos. Uncirculated. [6] (photo)From the Magnolia Collection. Est. 2,000-2,500

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48 Hawaii. 1883 Denomination Set.1) 10 Cents. VF. KM-3.2) 25 Cents. AU Details, Cleaned. KM-5.3) 50 Cents. AU Details, Cleaned. KM-6.4) 1 Dollar. AU Details, Cleaned. KM-7. [4] (photo)From the Magnolia Collection. Est. 400-600

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49 Mexico. 1917-1959 6-Piece Gold Type Set.1) 1945 2 Pesos. Uncirculated. KM-461.2) 1945 2.5 Pesos. Uncirculated. KM-463.3) 1955-M 5 Pesos. Uncirculated. KM-464.4) 1959-M 10 Pesos. Uncirculated. KM-473.5) 1917 20 Pesos. AU. KM-478.6) 1947 50 Pesos. Uncirculated. KM-481. [6] (photo)From the Magnolia Collection. Est. 2,000-2,500

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S P I N K L I V E — N E V E R M I S S A B I D

London, New York, Singapore and Hong Kong are just a mouse click away

with the Spink Live auction bidding platform. This easy to use auction bidding

system can be used anywhere you have internet accesss. To learn more visit

www.spinksmythe.com and follow the Spink Live Link or call Emily Cowin

at 972-788-2100 to learn more about Spink Live.


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50 Mexico. 1907-1959 6-Piece Gold Type Set.1) 1945 2 Pesos. Uncirculated. KM-461.2) 1945 2.5 Pesos. Uncirculated. KM-463.3) 1907-M 5 Pesos. XF. KM-464.4) 1959-M 10 Pesos. Uncirculated. KM-473.5) 1915 20 Pesos. Uncirculated. KM-478.6) 1947 50 Pesos. Uncirculated. KM-481. [6] (photo)From the Magnolia Collection. Est. 2,000-2,500

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T E L E P H O N E B I D D I N G

As an added convenience to our bidders in the sale, we offer telephone bidding

during the auction which gives buyers the flexibility they may need to increase

their bids as the auction proceeds. Please call our offices (800-556-7826 or

972-788-2100) to arrange for telephone bidding prior to the sale and

ask for Patricia Gardner or Emily Cowin.


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51 Monaco. 1884-A 100 Francs, Charles III. Uncirculated. KM-99. .9335oz AGW. Mintage:15,000. Set in orange gold with radiant luster in the fields. Central device definition is justshort of full, but fails to detract from the appeal. (photo)From the Magnolia Collection. Est. 1,000-1,200

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52 Monaco. 1896-A 100 Francs, Albert I. AU. KM-105. .9335oz AGW. Mintage: 20,000.Lightly circulated with semi-prooflike luster in the fields. A delightful large gold coin. (photo)From the Magnolia Collection. Est. 1,000-1,200

53 Remainder of World Coinage. Valuable primarily for its gold content, with eight world goldcoins containing 1.4 ounces of gold as well as numerous other silver and base metal types. [15] From the Magnolia Collection. Est. 1,400-1,600

End of SaleThank You!

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