Q. David Bowers
A 1796 half dollar with 16 stars, Extremely Fine, sold for $590. Lot 944, a 1797 half dollar in Very Fine grade, fetched $275.
Highlighting the half dollar series was the 1838-O, described as "excessively rare," which sold for $1,650.
Lot 1158, one of the 12 original 1861 Confederate States of America copper nickel cents, sold for $85 against a $100 estimate.
Lot 1189, the 1841 quarter eagle, was described as a Proof. The full-page presentation of the 1841 quarter eagle contained a description of the sale of the World's Greatest Collection example in 1946. In 1950, the Menjou piece, a different coin, fetched $5,100.
Among other quarter eagles, Lot 1213, a Brilliant Proof 1863, fetched $975, Lot 1226, an 1875 in Proof grade but with rubbing in the fields, fetched $105, and Lot 1326, a Very Fine 1854-S, sold for $725.
The offering of $3 pieces was complete except for the 1870-S. Lot 1396, the rare 1875, sold for $2,675 and was described as follows:
"1875. A magnificent Brilliant Proof specimen of this rarest of the $3 pieces and one of the rarest of all United States coins. Only 20 coins were minted and all are beautiful. The World's Greatest Collection and Atwater specimens sold for $3,000 and $3,050 respectively. A few months ago we- advertised an 1875 $3 piece in our Numismatic Gallery Monthly at $3,000. It was one of the first coins sold, we had three other collectors inquire about it."
Lot 1397, an 1876 $3 described as a beautiful Brilliant Proof, fetched $475.
The offering of half eagles in the Adolphe Menjou catalogue was outstanding. Representative prices included: Lot 1460, 1815 half eagle in Uncirculated grade, "perhaps the finest in existence, at $3,000; Lot 1463, 1819 Extremely Fine, $1,100; Lot 1466, 1821, Uncirculated, $600; Lot 1468, 1824 Superb Uncirculated Gem, $450; Lot 1471, 1827 Uncirculated, $1,525; Lot 1472, 1828 Uncirculated, $1,402; Lot 1473, 1829 small date Uncirculated with some hairlines, $1,402; Lot 1474, 1832 13 stars, Uncirculated, $130; and Lot 1475, 1834 with motto, Fine to Very Fine with some edge damage, $105.
Lot 1599, an 1858 eagle, furnished the opportunity for some discussion:
"1858 eagle. The rarest of all $10 gold pieces and one of the outstanding rarities in United States coinage. It is indeed a thrill to be able to offer this coin-especially since it is the second one to pass through our hands, the other being a Proof sole in the World's Greatest Collection to Dr. Green Now, I don't err very often in making estimates but when I do it's a humdinger! I stated that it was my 'considered opinion that the coin will easily sell for more than $1,000.' Well, it sure did!-but I didn't think it would go for $3,750. The Atwater specimen, catalogued as Extremely Fine, was sole soon afterwards for $3,675. When the Green Collection was sold recently the 1858 went for $4,250
"It is interesting to note that Dr. Green, realizing the extreme rarity of the 1858 eagle, came to me in New York after the first session of the sale of the World's Greatest Collection and remarked that if the 1841 quarter eagle is worth $6,000 (it had just been sold that day), then the 1858 eagle was certainly worth at least that price. Green indicated that, if necessary, he would go that high
"While one would naturally prefer a Proof to a Very Fine coin, where the 1858 eagle is concerned one does not have much choice and we may 1001 forward to spirited bidding for this Very Fine coin." The piece sold for $1,750.
The offering of double eagles was billed as a complete set. Highlights: Lot 1797, Brilliant Proof 1859, $410; Lot 1818, 1879 pattern quintuple stell: or $20 metric piece, condition not stated, but undoubtedly Proof, $3,400; Lot 1822, 1883 Gem Proof $1,200; Lot 1823, 1884 Brilliant Proof $1,125; Lot 1824, 1885 Brilliant Proof, $450; Lot 1825, 1886 Superb Brilliant Proof, $510; Lot 1860 1921 Very Fine, $575; and Lot 1996, 1931, Brilliant Uncirculated, $1,325.
In the double eagle series, Lot 1846 was featured as follows:
"Rare Saint-Gaudens Proof double eagle. Acknowledged as the United States' most beautiful coin, this represents one of the most sincere at-tempts to inject beauty into our coinage. President Theodore Roosevelt commissioned the distinguished designer and sculptor Augustus Saint-Gaudens to redesign our coinage. The Saint-Gaudens High Relief double eagle was outstanding among the various designs and was enthusiastically received by the president.
"In Criticism centered around the omission of the motto IN GOD WE TRUST and also on the high relief that would not lend itself to stacking by commercial houses. The result-a new low relief coir was made from the same design. Still a pretty coin, it lost a bit of its attractiveness.
"Mr. Menjou made a particular point to acquire A number of the High Relief coins and still owns a. number of them. Aware of his keen interest in this artistic item, we offered this Proof lot to him a few years ago, together with a brief history of the piece which accompanied the coin.
"It had come from the widow of a gentleman associated with the Mint in 1907. She had two Proof double eagles in high relief and the $10 rolled edge with periods. A letter accompanied the latter coin stating that 42 of the rolled edge pieces had been minted.
"The coin now offered is one of two we acquired at that time. There are only two Proof specimens which have come to our attention. From the standpoint of rarity, it is much rarer than the Saint Gaudens' $20 coin in Very High Relief of which several specimens are known to exist and which today is valued at $3,000, and while this Proof may someday exceed that price in value, we do not expect to bring that figure today." The coin sold for $825.
Lot 1948, a 1924-5 double eagle, was described as follows:
"1924-S. The rarest of all double eagles. There are perhaps fewer than five specimens extant. The recent Dr. Green, sale offered a specimen which we sold to him. It showed evidence of having been handled. The cataloguer indicated that it was the first specimen to be offered at auction, and he certainly was close but not quite accurate. In 1947 at the Buffalo convention we sold an Uncirculated specimen from the C. David Pierce Collection. It was in neither the Bell or the Atwater sales. I consider this Brilliant Uncirculated Gem to be the best of all I have seen, including the Berenstein, Green, and Pierce pieces. It is a prize which will certainly give pride of ownership to its buyer and should prove to be an excellent investment. The Pierce coin brought $2,250!" The Menjou piece subsequently fetched $2,000.
In 1950, the 1924-S was indeed recognized as a major rarity in the series. A few years later, it was realized that vast quantities of American double eagles had been secreted in Swiss vaults and had escaped the 1933-1934 melting which took place in America. Numismatically knowledgeable bankers scanned these coins, and many additional pieces were found of double eagles earlier believed to be rarities, especially certain issues of the Saint-Gaudens series. By a decade or two later, the 1924-S double eagle was recognized as being scarce, but not the rarity it had been in 1950.
The opposite happened with the 1854-O double eagle and the 1856-O. In 1950 Abe Kosoff recognized them as being scarce, but their true rarity had not been appreciated. Years later they were to be among the most valuable of all issues in the double eagle series. In the Menjou sale, Lot 1955, an 1854-O, fetched $177.50 and was described as "Very Fine with nice lustre; very rare and seldom offered," while Lot 1957, an 1856-O, was described as: "Very Fine and very rare. Several splendid collections, including the World's Greatest Collection, did not have this date; has records to $300." The piece sold for $280.