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Type Live Webcast Auction
Price Realized 193,875.00 USD
Date Sold 7/13/2017

Lot # 43
Estimate 110,000.00 - 125,000.00 USD
Group - Category Coins & Paper Money - Coins - US
Lead $20 1909 PCGS PR66 CAC EX 1994 COLLECTION
Description
Legend Rare Coin Auctions is pleased to present this ultra HIGH END Roman Finish 1909 Proof $20. This is the second lowest mintage regular issue Proof Saint Gaudens double eagle with only 67 pieces originally sold to contemporary collectors, the balance of the 166 examples struck were melted at the mint. This is exactly what a Roman Finish $20 should look like! Light golden-orange color truly shines in the light. The surfaces are moderately granular in texture, a relatively early die state. “Machine” doubling can be seen on the date, stars, and Capital Dome. What look like minor rim bumps are actually imparted from the edge. Both the doubling and the “bleeding” of the edge stars are artifacts from a die that was a touch loose when this coin was struck and is seen on a number of examples. A forceful blow from the powerful hydraulic medal press has rendered every detail to their fullest advantage. The surfaces are highly lustrous and free of any lines or ticks. While under appreciated by collectors in 1909, today these are HIGHLY prized for their beauty and exceptional rarity. The era was a whirlwind of activity at the mint with innovative new designs and new techniques that were inspired by what was being done in various European mints. In 1907, the Liberty series, which had been produced with a polished or brilliant finish came to an end and with it came the masterfully artistic and innovative designs of Augustus St. Gaudens ($10 and $20) and Bela Lion Pratt ($2.50 and $5). Mint officials reported that the new designs would not lend themselves to the traditional Brilliant finish, and a new process, which had been in use at the Paris and Royal mints was employed. The sandblast, or matte proofs were struck for commercial sale in 1908 to collectors. The finish, which was created by blasting the struck coins with sand left something to be desired for contemporary collectors (while today matte proofs with their original olive-gold patina are highly desirable; they were seen as dark and unattractive at the time of issue). A second finish, what we know today as the Roman or Satin finish, have long been subject of debate of how they were produced. There has been much confusion, as unlike the matte process where mint documents state that the coins were subjected to an actual blast of sand, there is no documentary evidence of the process of die and planchet preparation. The cataloger (GC) had an informative conversation with John Dannreuther (who has been studying U.S. Gold Proofs for soon to be published encyclopedia), regarding the process. The original theory was that the dies were treated with an acid solution that would etch the surface. Today experts believe that the Satin Finish dies were produced by sand blasting the dies before striking, and then leaving the finished coins as is, without blasting them again. Due to their somewhat different texture, Wayte Raymond called them “Brilliant Matte Proofs” as the color was a brighter, yellow gold with a satiny lustrous surface, and perhaps his term is a fair assessment of what they are. In our discussion, JD explained that in the past, numismatic experts thought multiple finishes were employed, as individual coins do look different from each other, some being quite grainy in appearance to others that have a more vibrant, nearly prooflike lustrous surface. Today, however, it is believed that only one die finish was employed, with the finish wearing off with each successive coin struck, explaining these differences. While only 166 coins were struck, you can see clearly distinct die states, from those struck early on with highly granular surfaces to those struck later on display a smooth, PL lustrous look. PCGS 4, NGC 9, CAC 3. This coin has been off the market since our sister firm, Legend Numismatics, placed it into this collection in a green tag PCGS holder, graded PR65 (back in 1994). This is the coin that sold in the July 1994 Heritage auction (the most recent PCGS PR65 to sell—HOW RARE IS THAT?!). No PCGS coin in PR66 has EVER sold in auction (we believe that the $99,875 for the non-CAC coin in the August 2015 ANA auction reported by PCGS CoinFacts represents a buy back price). An NGC PR66 CAC sold for $83,375 over five years ago (2012 FUN auction). A PCGS PR67 (which is not CAC) sold for $184,000 back in the 2006 FUN auction (11 long years ago!). The current PCGS Price Guide value is listed at $190,000. We believe this coin will bring a run away price. This is truly a special rare coin, destined for the finest collections of Proof 20th Century gold or Type coins. We offer, in advance, a hearty congratulations to the successful bidder! It may be many years before another comes up for sale. PCGS # 9206 Cert. Number 84025604 PCGS # 9206
Name The Regency Auction XXII
Auctioneer Legend Rare Coin Auctions, LLC
Type Live Webcast Auction
Date(s) 7/13/2017
Thursday, July 13th AUCTION ROOM | 4:30PM PT-7:30PM ET | Location: Galileo 1002
Preview Date/Time Tuesday, July 11th 3PM-6PM PT | Location: Galileo 1006 - By Appointment Wednesday, July 12th 9AM-6PM PT | Location: Galileo 1006 Thursday, July 13th 9AM-3:30PM PT | Location: Galileo 1006
Checkout Date/Time Lot Pickup & Settlement: Friday, July 14th 9AM-11AM PT | Location: Galileo 1006
Location The Venetian. Room: Galileo 1002 3355 Las Vegas Boulevard S.
Las Vegas, NV 89109
Buyer Premium 17.50% Buyers Premium
Description
Thursday, July 13th AUCTION ROOM | 4:30PM PT-7:30PM ET | Location: Galileo 1002 Tuesday, July 11th 3PM-6PM PT | Location: Galileo 1006 - By Appointment Wednesday, July 12th 9AM-6PM PT | Location: Galileo 1006 Thursday, July 13th 9AM-3:30PM PT | Location: Galileo 1006
This is a public auction, conducted in accordance with these Terms and Conditions of Sale, by Legend Rare Coin Auctions (hereinafter referred to as “LRCA"). By bidding on any lot offered by LRCA, the bidder indicates acceptance of the following Terms and Conditions of Sale. Bidders are to comply with the Terms and Conditions of Sale, posted on LegendAuctions.com, at the time of the auction in which they are participating. BUYER'S PREMIUM A 17.50% buyer’s premium will be added to all successful bids, and is payable by the winning bidder as part of the total purchase cost. SALES TAX All sales are subject to applicable state and local taxes. Any lots that are picked up and/or delivered in the state of Nevada are subject to applicable state and local taxes. BIDDING All Bidders must meet Auctioneer's qualifications to bid. Any Bidder who is not a client in good standing of the Auctioneer may be disqualified at Auctioneer's sole option and will not be awarded lots. 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Invoices and/or balances over $2,500.00 must be paid via personal or certified check, money order, or wired funds. Personal checks, money orders and cashier's checks may be held for up to 10 business days in order to allow time for them to clear appropriate banking channels. Please email info@legendauctions.com for bank-wiring instructions and/or to provide numismatic references. INTERNATIONAL BUYERS Foreign buyers, unknown to us, are required to deposit 25% of their anticipated expenditures before bidding. Please contact us in advance of bidding for bank wiring instructions. EXTENDED PAYMENT TERMS For all items $15,000.00 and over, LRCA is now offering Extended Payment Terms. Please advise us at least 48 hours before bidding or purchasing the item in question. Pre-approval is required. TERMS 30/60/90 " A 1/3 down payment is due within five days of purchase date. " Additional 1/3 payment due within 30 days of purchase date. " Additional 1/3 payment due within 60 days of purchase date. 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Bid Amount Bid Increment
0.00 - 199.00 10.00 USD
199.01 - 999.00 25.00 USD
999.01 - 1,999.00 50.00 USD
1,999.01 - 4,999.00 100.00 USD
4,999.01 - 9,999.00 250.00 USD
9,999.01 - 19,999.00 500.00 USD
19,999.01 - 39,999.00 1,000.00 USD
39,999.01 - 99,999.00 2,500.00 USD
99,999.01 - 199,999.00 5,000.00 USD
199,999.01 - 399,999.00 10,000.00 USD
399,999.01 - 999,999.00 25,000.00 USD
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Buyer Premium 17.50% Buyers Premium
Payment Terms
SALES TAX All sales are subject to applicable state and local taxes. Any lots that are picked up and/or delivered in the state of New Jersey are subject to applicable state and local taxes. PAYMENT All merchandise must be paid for within TEN (10) days of the date of sale. We reserve the right to cancel any unpaid order after that time and to ban the bidder from future sales. Credit cards (Visa, MasterCard and Discover) are accepted for auction payments up to $2,500.00 per invoice. Invoices and/or balances over $2,500.00 must be paid via personal or certified check, money order, or wired funds. Personal checks, money orders and cashier's checks may be held for up to 10 business days in order to allow time for them to clear appropriate banking channels. Please email info@legendauctions.com for bank-wiring instructions and/or to provide numismatic references. INTERNATIONAL BUYERS Foreign buyers, unknown to us, are required to deposit 25% of their anticipated expenditures before bidding. Please contact us in advance of bidding for bank wiring instructions. Extended Payment Terms For all items $15,000.00 and over, LRCA is now offering Extended Payment Terms. Please advise us at least 48 hours before bidding or purchasing the item in question. Pre-approval is required. TERMS 30/60/90 " A 1/3 down payment is due within five days of purchase date. " Additional 1/3 payment due within 30 days of purchase date. " Additional 1/3 payment due within 60 days of purchase date. Interest is due on the outstanding balance after 30 days, at the rate of .83% per month (10% annually). No interest is calculated for the first 30 days and there is no penalty for paying off early. LRCA will maintain possession of item(s) until paid in full. Additional terms and conditions for Extended Payment Terms by Legend Rare Coin Auctions: All sales are final. No returns will be accepted for any items using Extended Payment Terms. In the event that the buyer defaults, LRCA reserves the right to cancel the sale, re-offer the item(s) at a future LRCA sale under the buyer's name, with a minimum bid of 50% of sale price. Any down payments or subsequent installments will be applied to the balance due, together with any deficit relating to the resale of the items. If there is any balance owed to the buyer, LRCA will remit this to buyer within 30 days of sale date. In addition to these terms, all of our standard Terms and Conditions shall govern the sale and use of Extended Payment Terms. RETURN POLICY All lots are sold “as is.” Lots graded by PCGS, NGC or other third-party grading services, or any lot viewed by the buyer or anyone on buyer’s behalf prior to the auction, may not be returned. This is not an approval sale. All sales of lots to the highest bidder are final. Bidders are strongly advised and encouraged to research any lots upon which they plan to bid, and to determine bids, based upon their own evaluation. Bidders assume all risks concerning and related to the grade, quality, appearance, condition, history and origin of any lot. Bidders acknowledge that coin grading is not an exact science, that it can be subjective and inconsistent and that it is possible that two parties might assess or grade the same coin differently. LRCA makes every effort to accurately describe all items offered in its sales. All items will be available for preview prior to the auction.
SHIPPING Shipping costs will be billed separately and are non-refundable. Items will usually ship within 5-10 business days after payment has been received and/or funds have cleared. Coins will be shipped via Fed Ex or USPS or transported via armored carrier. The shipping charge includes fees for our third-party insurance coverage, as well as any costs incurred through the USPS or Federal Express. Any shipments made via armored carrier (Brinks, Dunbar, etc.) will be calculated and assessed at the time of shipment. INTERNATIONAL SHIPPING It is not possible for LRCA to ship to some countries. Please email questions to info@legendauctions.com. Payment for all international orders is required in US funds. Please contact julie@legendauctions.com for bank wiring instructions. Customs requirements for each country are the responsibility of the buyer. All packages shipped outside of the United States will include the required customs declaration and full value of the invoice.