LAMBERTVILLE, N.J. – Rago Arts and Auction Center’s Coins and Currency Auction on Feb. 24 brought $360,042 in sales, 10 percent above the high estimate. Of the 358 lots of rare and ancient coins and currency, gold and silver coins, primarily those of U.S. origin, sold strongest. Absentee and Internet live bidding was available through LiveAuctioneers.
Rare and ancient coins had spottier sales, but the market for this currently undervalued category is trending upward, signaling a strong investment potential.
The auction’s top lot was a Pan-American Exposition Gold Medal awarded to Eldridge R. Johnson in 1901 for the invention of the Victor Talking Machine. The medal (above) sold for $46,995.
“Thanks to the quantity and quality of numismatics on offer, our February Coins and Currency Auction was a resounding success,” said Chris Wise, director of Rago’s Coins and Currency Department. “I am already fielding inquiries from prospective consignors and repeat consignors for my next auction in June. I hope to hear from many more. There are so many coins stashed in banks and bottom drawers that could be turned into college tuitions, vacations and retirement funds. A free valuation provides the information necessary to owners faced with the choice of selling, keeping or bequeathing.”
Other noteworthy lots included; lot 108, a U.S. 1884-S Morgan Silver Dollar NGC graded at MS 61+ that sold for $31,330 against an estimate of $8,000-$12,000; lot 9, a U.S. 1807 $5 Capped Bust Gold Coin PCGS graded at MS62 that sold for $13,255; and lot 25, a U.S. 1881 $3 Gold Coin NGC graded at MS61 (below) that sold for $12,050.