Heritage Auctions, USA-Chicago

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24-04-2012 – 30-04-2012

World & Ancient Coins CICF Auction

Brazilian rarities great success at Heritage Auctions’ World Coin Event

Two Brazilian coins – a Pedro I gold 6400 Reis 1822-R Coronation Piece and a Joao VI (as King) gold 6400 Reis 1822-R – took top dollar realizing $138,000 apiece in Heritage Auctions’ $8.8+ Million World & Ancient Coins CICF Auction, which took place in Chicago April 25-May 1. All prices include a 15% Buyer’s Premium.

“Collectors were clearly enamored with the great Brazilian offerings,” said Cristiano Bierrenbach, Vice President of Heritage Auctions, “which fairly dominated the top of the auction. Strong prices were realized throughout the auction, however, with international collectors snapping up a wide variety of world rarities.”

Combined with Heritage’s auctions for US Coins and Currency, which took place in Chicago the previous weekend, the overall total of Heritage’s CSNS and CICF Chicago-area events over the fortnight rose to nearly $38 million.

23733: Pedro I gold 6400 Reis 1822-R, KM361, VF Details NGC (mount removed), Ex-Eliasberg, struck for the coronation of Pedro I. Extremely rare. Estimate: $100,000 – $150,000. Realized: $138,000.

The Pedro I coin, the famed “Coronation Piece”, is undoubtedly the most important and charismatic piece of Brazilian numismatics. This issue, made in a hurry to be presented to guests of honor at Pedro I’s Inauguration Ball on Dec. 1, 1822, consisted on just 64 pieces, of which only 10-12 are known to survive to today, and those mostly in museums. The sale price of $138,000 easily outdistanced the pre-auction estimate of $100,000+. This same piece was sold in auction just 6 years ago for $69,000, showing the strength in this part of the market.

Joao VI (as King) gold 6400 Reis 1822-R, KM328, AU58 NGC, nicely struck with lustrous surfaces. Estimate: $80,000 – $100,000. Realized: $138,000.

The Joao coin, the last issue of colonial Brazil before independence, is so rare that most reference catalogs, rather than giving a value, list it as “Rare” or “RRR.” This near-mint example, a nicely struck coin with lustrous surfaces, also realized $138,000 against a pre-auction estimate of $80,000+.

The Ancients portion of the sale, comprising the first 488 lots, was highlighted by an extensive offering of Roman Republican coins from the Mayflower Collection.
“The Roman Republic is certainly alive and well in the coin collecting world,” said David Michaels, Director of Ancient Coins. “Most of the coins well exceeded their estimates, with the important rarities selling for multiples of the estimate.”

Q. Caecilius Metellus Pius Scipio (47-46 BC). AR denarius (20mm, 3.83 gm, 9h). Crawford 460/4. Toned. Extremely Fine. Estimate: $4,500-5,500. Realized $27,600.

Chief among these was a spectacular denarius of Q. Metellus Scipio, the enemy of Julius Caesar, which realized $27,600 against an estimate of $4,500-5,500.

Just a few of the many other highlights in this auction include:

  • Brazil – Maria I & Pedro III gold 6400 Reis 1777-B, KM199.1, AU53 NGC: Realized $80,500.
  • Great Britain – Charles I gold Triple Unite 1643, S-2727, N-2382, Oxford Mint, Plume initial mark, VF35 NGC: Realized: $69,000.
  • Brazil – Joao V gold 6400 Reis 1734-M, KM135, AU55 NGC: Realized $57,500.
  • Greece – Constantine I silver Essai 2 Drachmai 1915, KM-E35, Divo-P98, Proof 64 NGC: Realized $57,500.
  • Manchurian Provinces – Dollar Year 33 (1907), KM-Y212, L&M-487, MS62 NGC: Realized: $48,875.
  • Brazil – Jose I copper 40 Reis 1752, KM184.1, VF Details NGC: Realized $43,125.
  • Australia – George V Proof Florin 1927 Canberra, KM31, Proof 67 PCGS: Realized $40,250.
  • Australia – George V gold Sovereign 1921M, KM29, MS62 NGC: Realized $34,500.
  • Canada: Victoria 1884 10 Cents, KM3, MS65 PCGS, Ex: Canadiana Collection: Realized $31,050.

For further details about the auction sale, please check out the Heritage auction catalogue.