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Type Live Webcast Auction
Price Realized 282,000.00 USD
Date Sold 5/16/2019


Lot # 493
Estimate 300,000.00 - 350,000.00 USD
Ring # 2
Group - Category Coins & Paper Money - Coins - US
Lead $20 1857-S PCGS MS67 CAC
Description
EX. S.S. CENTRAL AMERICA Legend Rare Coin Auctions is proud to present the most beautifully and amazingly colorful toned gold coin we have ever seen! This is the WORLD FAMOUS, gorgeously toned SUPERNOVA 1857-S double eagle. Used in all the early marketing for the second round of coins recovered from the S.S. Central America treasure, it has received worldwide attention for its truly remarkable beauty! Dubbed Supernova by the partners of the California Gold Marketing Group, who purchased and marketed the recovered treasures from the fabled S.S. Central America shipwreck due to its absolutely stunning toning. Needless to say, this SUPERB GEM is among the absolute FINEST 1857-S double eagles recovered and is truly UNIQUE in terms of its superlative patination. The vivacious brilliance of the original luster glows through and highlights the stunning patination on both sides. Swirling bands of tangerine, crimson, aquamarine, violet, cobalt, peach, and yellow gold blend together and frame Liberty's portrait, accenting her facial details. Similar tones grace the reverse. Rotating this masterpiece in a light will cause the totally original colors to create a vortex that will hypnotize you. We have spent hours staring at it since it arrived in our offices. It is truly remarkable to contemplate how the cold, still waters of the depths of the Atlantic Ocean, off the Carolina coast reacted with the 90% gold alloy, the copper and trace elements that make up the remaining 10% as they took on a supernova of color. Everyone has seen the photos of the piles of double eagles, stacked as they were stored in bags and boxes, sitting on the ocean floor, their brand-new surfaces gleaming from below the natural concretion and encrustation. This coin’s patina stood out from the pack, instantly known to be a truly one of a kind, historic masterpiece of Mother Nature’s palette. The devices are sharply struck up, with full, crisp definition, even in the most minute of details of James Longacre's classic design. All of Liberty’s hair curls, all of the stars, and all of the eagle’s feathers are razor sharp. Close inspection reveals a few trivial ticks, mostly hidden by the richness and boldness of the toning, and none of these can claim any effect to the awe inspiring and seductive visual allure of this SUPERB GEM. The story of the sidewheel steamer Central America is well known among collectors ever since the treasure was discovered on September 11, 1988. After gold was discovered in the America River at Sutter’s Mill, California in 1848, a mass migration of people went west, looking to stake their claims and reap fortunes in the gold fields. Those lucky enough to find gold needed a way to convert the raw gold into currency. The overland journey to the closest federal mint would take months, so enterprising businessmen established local assay offices and coining operations. Some of these were legitimate firms whose coins were widely accepted, while others were downright fraudulent. Something needed to be done, so in 1854, a federal mint was established in San Francisco, tasked with churning out millions of gold coins per year from freshly mined ore, and gold from other sources (such as earlier “territorial” coins that were assayed and converted to federal coinage). Travel was very primitive, with overland treks being taken in Conestoga and other covered wagons and coaches. Taking this route would involve lots of risks, including starvation, disease, and possible attacks from Native American tribes. The trip could take months over uninviting terrain and hostile areas. The other option favored by many was to take a steam ship steamship from San Francisco to Panama. A newly completed rail line crossed the isthmus at its narrowest point, and another ship would take passengers along the eastern route, through the Gulf of Mexico to Cuba, then to the Eastern coast of the United States. One of the ships that made the eastern leg was the side-wheel steamer, the S.S. Central America. The 272-foot ship had made the voyage 43 times before, and its September 1857 trip should have been routine. Carrying a massive cargo of gold, valued at over $1.2 million in 1857 dollars, and 578 passengers and crew members, it was heading to New York City. The gold was to be delivered in an effort to shore up eastern and northern financial institutions that had been caught in a speculative bubble involving railroads and insurance. While sailing up the eastern seaboard from Havana, Cuba, the ship encountered a massive hurricane off the Carolina coast. On September 12, 1857, the ship foundered, taking on too much water that put out the fires in the boilers. The ship went down, taking with it all that gold and 425 souls. The loss caused a massive panic on Wall Street, with a major run on the banks. Without the precious cargo of gold coins, many banks had to close. The Panic of 1857 was one of the worst financial crises in the history of the United States. As the panic deepened, it further drove a wedge between the industrial and commercial interests of the north and the agrarian based economy of the south. Less than four years later, these differences led to the Civil War. In the 1980s, a team of deep-water explorers using state of the art equipment searched for the wreckage of the S.S. Central America, and nearly 130 years to the day, they found the shipwreck. Within a year or two, three tons of gold had been recovered. The find proved to be an excellent time capsule, revealing much about the coins and ingots of gold that were used between banks, as well as what was in people’s personal possessions. Awe inspiring amounts of gold, from sacks of gold dust, individual rare coins from various U.S., Territorial, and even foreign issues, to large quantities of double eagles direct from the mint, to gold bricks assayed by various San Francisco firms that weighed from a few to hundreds of ounces, were discovered. A long legal battle took place. The successor firms of those that insured the ship wanted to recover their payout. Finally, in 1999, the first coins and ingots hit the market in a December auction conducted by Sotheby’s in New York City. A second sale conducted by Christie’s and Spink America took place in December the following year. The remaining coins, mostly 1856 and 1857 double eagles from the San Francisco mint and private issued gold bars or ingots, were sold by a group of major dealers that formed the California Gold Marketing Group. A big splash was made at various numismatic conventions in 2000 with the Ship of Gold display, one of the most popular exhibits at that year’s ANA convention in Philadelphia. After a short while the entire treasure inventory was sold to numismatists and non-collectors alike. In the aftermarket, whenever examples popped up in auction, these historic relics were eagerly bought. Flash forward, another expedition took place in 2014. Again, after much legal drama, additional coins were brought up. These remarkable coins were conserved and graded by the experts at PCGS. This time, only 3,136 gold coins total were recovered. This coin made a huge splash when the reports of what had been recovered began hitting the press. According to the California Gold Marketing Group’s managing partner, Dwight Manley, “This 1857-S $20 has been talked about more than any of the other S.S. Central America coins,” and was the centerpiece of the 2018 edition of the Ship of Gold display on view at the Long Beach Expo. While other coins from this second recovery have been offered on the market, SUPERNOVA is the POSTER COIN for the S.S. Central America coins, and as such, is a true NATIONAL TREASURE! This is the type of coin that attracts attention of numismatists and non-numismatists alike. The history, the amazing coloration, and pristine state of preservation will entice any collector of coins, art, or important pieces of Americana. This remarkable coin will bring a RECORD PRICE for any 1857-S $20 ever sold in auction and will forever be remembered as the most important 57-S recovered from the Ship of Gold. Cert. Number 34533520 PCGS # 670713
Name The Regency Auction 32
Auctioneer Legend Rare Coin Auctions, LLC
Type Live Webcast Auction
Date(s) 5/15/2019 - 5/16/2019
Auction Room: Fulton St. Salon III Wednesday, May 15: Dollar Day | 5:30 PM CT Thursday, May 16: 5:30 PM CT
Preview Date/Time Tuesday, May 14 - 2PM-6PM CT | Appointment Only Location: Vieux Carré Ballroom Wednesday, May 15 - 9AM-4:30PM CT Location: Vieux Carré Ballroom Thursday, May 16 - 9AM-4:30PM CT Location: Vieux Carré Ballroom
Location Harrah's New Orleans 228 Poydras Street
New Orleans, LA 70130
Buyer Premium 17.50% Buyers Premium
Description
Harrah's 228 Poydras St, New Orleans, LA 70130
Auction Terms & Conditions 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. Such determination may be made by Auctioneer in its sole and unlimited discretion, at any time prior to, during, or even after the close of the Auction. To ensure the safety of all our bidders Legend Rare Coin Auctions reserves the right to request a minimum of two industry references and/ or a bank letter of credit for all new bidders. International bidders that are unknown to Legend Rare Coin Auctions will be required to deposit 25% of their anticipated expenditures. Please contact a Legend representative at least 48 hours in advance of bidding for approval and payment instructions for all purchases. Auctioneer reserves the right to exclude any person from the auction. 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, at our discretion please contact our finance department at 732-935-1168 to discuss specific terms that can be offered. Please advise us at least 48 hours before bidding or purchasing the item in question. Pre-approval is required. 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. BIDS VIA TELEPHONE An absentee bidder may also participate live, during the auction, via telephone. Requests for phone bidding must be received at least three days prior to the auction date. Please fill out our phone bidding request form online or call 732-935-1168 to request a call from one of our representatives during the live auction. LRCA cannot guarantee phone lines, but will make every effort to accommodate those who wish to participate via this method. RIGHTS AND RESPONSIBILITIES The auctioneer will determine the highest bidder. The auctioneer, alone, has the right to reopen the bidding for an item, if deemed necessary. LRCA and its representatives reserve the right to remove any attendees who impede the preview and/or the auction. Title to all merchandise shall pass to the winning bidder after receipt of good funds by LRCA. Bidders will be held responsible for their bids, including those bids placed incorrectly. PLEASE VERIFY BIDS BEFORE SUBMITTING THEM. In order to have a bid removed or corrected, bidder must contact LRCA prior to start of the auction. Bidder waives auctioneer's responsibility and holds LRCA harmless for failure to recognize, accept, receive or execute any lost or missing bids by internet, telephone, email, floor bid, fax, mail or other means. LRCA reserves the right to postpone or cancel an auction without notice. Lots may be withdrawn at LRCA's discretion, without prior notice. Lots may carry a reserve. A reserve is a price below which the auctioneer will not sell an item, or will re-purchase the item on behalf of the consignor or for LRCA. LRCA permits bids to be placed by the auctioneer, or an employee of the auctioneer, up to the pre-determined reserve set by the consignor. Legend Rare Coin Auctions' partner, Legend Numismatics, reserves the right to bid on items, for its own account and for the accounts of its clients. DISCLAIMER AND WARRANTIES NO WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE IS MADE OR IMPLIED ON ANY LOT. NO WARRANTY, WHETHER EXPRESSED OR IMPLIED, IS MADE WITH RESPECT TO ANY LOT EXCEPT FOR WARRANTY OF TITLE, AND IN THE CASE OF TITLE, AUCTIONEER IS SELLING ONLY THAT RIGHT OR TITLE TO THE LOT THAT THE CONSIGNOR MAY HAVE AS OF THE AUCTION SALE DATE. ALL LOTS ARE SOLD "AS IS" AND WITH ALL FAULTS. PURCHASER HEREBY ASSUMES ALL RISKS CONCERNING AND RELATED TO THE GRADING, QUALITY, DESCRIPTION, CONDITION, AUTHENTICITY, AND PROVENANCE OF A LOT. a. COINS AND CURRENCY LISTED IN THIS CATALOG GRADED BY PCGS, NGC, OR ANY OTHER THIRD PARTY GRADING SERVICE OR EXAMINED BY THE BUYER PRIOR TO THE AUCTION MAY NOT BE RETURNED FOR ANY REASON WHATSOEVER BY ANY BUYER, EXCEPT FOR CLAIMS RELATED TO AUTHENTICITY. b. For non-certified coins that have not been examined by the Buyer prior to the Auction Sale: if it is determined in a review by LRCA that there is a material error in the catalog description of a non-certified coin or the LRCA no later than seventy-two (72) hours of delivery of the lots in question, and such lots are returned and received by LRCA, in their original, sealed containers, no later than fourteen (14) calendar days after delivery, in the same condition the lot(s) were delivered to the Buyer, time being of the essence. c. If an item or items are returned pursuant to the terms herein, they must be housed in their original, sealed and unopened container. d. Late remittance or removal of any item from its original container, or altering a coin constitutes just cause for revocation of all return privileges. e. Grading or condition of rare coins may have a material effect on the value of the item(s) purchased, and the opinion of others (including independent grading services) may differ with the independent grading services opinion or interpretation of LRCA. LRCA shall not be bound by any prior, or subsequent opinion, determination or certification by any independent grading service. f. Questions regarding the minting of a coin as a "proof" or as a "business strike" relate to the method of manufacture and not to authenticity. g. All oral and written statements made by LRCA and its employees or agents (including affiliated and related companies) are statements of opinion only, and are not warranties or representations of any kind, unless stated as a specific written warranty, and no employee or agent of LRCA has authority to vary or alter these Terms and Conditions of Auction Sale. LRCA reserves the right to vary or alter the Terms of Sale, either generally or with respect to specific persons or circumstances, in its sole discretion. Any variation or alteration shall be effective only if in writing and signed by an officer of LRCA authorized to do so. h. LRCA is acting as an auctioneer. Title to the lots purchased passes directly from the Consignor to the Buyer. Accordingly, LRCA is not making, and disclaims, any warranty of title. i. Bidder acknowledges that the numismatic market is speculative, unregulated and volatile, and that coin prices may rise or fall over time. LRCA does not guarantee or represent that any customer buying for investment purposes will be able to sell for a profit in the future. j. Bidder acknowledges and agrees that neither LRCA, nor its employees, affiliates, agents, third-party providers or consignors warrant that auctions will be unimpaired, uninterrupted or error free and accordingly shall not be liable for such events. Waiver and Release Bidder, for himself, his heirs, agents, successors and assignees, generally and specifically waives and releases, and forever discharges LRCA, and its respective affiliates, parents, officers, directors, shareholders, agents, subsidiaries, employees, managers and members and each of them, and their respective successors and assignees from any and all claims, rights, demands and causes of actions and suits, of whatever kind or nature, including but not limited to claims based upon Auctioneer's negligence, whether in law or equity, tort or otherwise, whether known or unknown, suspected or unsuspected (a "Claim"), which Bidder may assert with respect to and/or arising out of, or in connection with any challenge to the title to or authenticity of any goods purchased, the sale itself, any lot bid upon or consigned, and/or the auction, except where such Claim is otherwise expressly authorized in these Terms of Sale. It is the intention of Bidder that this waiver and release shall be effective as a bar to each and every Claim that may arise hereunder or be related to the Auction Sale. Disputes If a dispute arises concerning ownership of a lot or concerning proceeds of any sale, LRCA reserves the right to commence a statutory inter-pleader proceeding at the expense of the Consignor and Buyer and any other applicable party, and in such event shall be entitled to its reasonable attorneys' fees and costs. LRCA reserves the right to cancel or postpone the Auction Sale or any session thereof for any reason whatsoever. No Bidder shall have any claim as a result thereof, including for incidental or consequential damages. Neither LRCA nor any affiliated or related company shall be responsible for incidental or consequential damages arising out of any failure of the Terms of Sale, the auction or the conduct thereof and in no event shall such liability exceed the purchase price, premium, or fees paid. Rights granted to Bidders under the within Terms and Conditions of Auction Sale are personal and apply only to the Bidder who initially purchases the lot(s) from LRCA. The rights may not be assigned or transferred to any other person or entity, whether by sale of the lot(s), operation of law or otherwise. Any attempt to assign or transfer any such rights shall be absolutely void and unenforceable. No third party may rely on any benefit or right conferred by these Terms and Conditions of Auction Sale. Any dispute arising out of or related to these Terms of Sale, the Auction Sale or any lot, with the sole exception of actions by Legend Rare Coin Auctions to collect amounts owed to it and other damages, shall be submitted to binding arbitration pursuant to the commercial arbitration rules of the American Arbitration Association, with any arbitration hearing to occur in Monmouth County, New Jersey. Absent an agreement of the parties, the arbitrator shall limit discovery to that which is necessary to enable the hearing to proceed efficiently. The arbitrator shall not have the power to award punitive or consequential damages, nor alter, amend modify any of the terms of this Agreement. The award by the arbitrator, if any, may be entered in any court having jurisdiction thereof. Each party shall pay one-half the costs of the arbitration. Bidder acknowledges and agrees that the competent courts of the State of New Jersey shall have exclusive in personam jurisdiction, subject to the requirement to arbitrate, over any dispute(s) arising hereunder, regardless of any party's current or future residence or domicile. Bidder further agrees that venue of the arbitration proceeding shall be in Monmouth County, New Jersey; and any court proceeding shall be in the Monmouth County Superior Court, in the State of New Jersey, and in each case waive any claim of Forum Non Conveniens. Bidder agrees that any arbitration or legal action with respect to this Auction Sale is barred unless commenced within one (1) year of the date of this Auction Sale. AUCTION PARTICIPANTS EXPRESSLY WAIVE ANY RIGHT TO TRIAL BY JURY. --------------------------------------------- ------------------------------------------ Terms Of Use

Seller User Terms

Bidder User Terms
Your bid must adhere to the bid increment schedule.
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
999,999.01 - 1,999,999.00 50,000.00 USD
1,999,999.01 - 9,999,999.99 100,000.00 USD
Currency USD
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 EXTENDED PAYMENT TERMS For all items $15,000.00 and over, LRCA is now offering Extended Payment Terms, at our discretion please contact our finance department at 732-935-1168 to discuss specific terms that can be offered. Please advise us at least 48 hours before bidding or purchasing the item in question. Pre-approval is required. 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.