1895 Morgan Dollar Realizes $105,750 at Auction

An 1895 Morgan dollar graded Proof 66 Cameo by the Professional Coin Grading Service sold for $105,750 during Heritage Auction’s public sale, held on November 29th and 30th in Houston.

The sale was a significant auction put forward by Heritage, which worked diligently to offer more than 2,300 United States coins in what they termed a boutique sale. The auction as conducted in conjunction with the Money Show of the Southwest.

Final prices for all coins sold include the 17.5 percent buyer’s fee, which was added to the closing hammer price on all lots.

The public sessions of the auction generated total prices of $7,725,923.58 with 94.2 percent of the offered lots selling, according to Heritage officials.

The auction featured several highlights, including an 1874 Haseltine restrike in copper from the original Robert Lovett dies of the 1861 Confederate States of America cent, which sold for $70,500. The example is graded PCGS Proof 65 red and brown and is stickered by Certified Acceptance Corp.

An 1834 Classic Head, Crosslet 4 gold $5 half eagle, graded PCGS Mint State 62, realized $23,500.

A 1929 Saint-Gaudens gold $20 double eagle, one of the most popular coins in the world, graded at PCGS MS-64, realized $41,125. The Saint-Gaudens was commissioned by President Theodore Roosevelt who sought to make American coinage more beautiful and specifically mentioned the sculptor Augustus Saint-Gaudens.

The price of gold climbed back above $1,700 per troy ounce in early trade on Wednesday as the metals tracked gains in wider markets, particularly European equities. The spot price of gold gained 0.3 percent to $1,701.94 following its dip to $1,690.64 on Tuesday, the weakest prices since November 6. U.S. gold futures for February delivery gained $8.00 to $1,703.80 per troy ounce.

Recent political stalemates over the U.S. fiscal cliff negotiations have bolstered the gold market as investors again look to precious metals as a safe haven. Currently, however, the stalemate is seen as hampering the market as investors choose to sit on the sidelines until more definitive language comes out of Washington regarding policy.

Sales at the U.S. Mint continue a streak, however. With American Silver Eagles showing 700,000 ounces moving on Tuesday over 500,000 ounces moving in all of last week, highlighting the demand for physical bullion coin despite market movements.

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