24-05-2016 – 01-01-1970
Pogue IV Auction
Pogue IV Auction sells 61 coins, surpasses $16 million
Part IV of the D. Brent Pogue Collection, offered by Stack’s Bowers Galleries and Sotheby’s at Sotheby’s New York galleries, realized a total of $16,749,038 for 61 lots, with an average lot value of more than $274,000 per coin. The Farouk-Pittman 1833 Proof half eagle led all coins sold at $1,351,250. A famed 1795 Draped Bust silver dollar, last sold in the 1980 Garrett Collection sale, also surpassed the million-dollar mark, realizing $1,057,500.
Brian Kendrella, president, stated: “The room was electric with anticipation as the first lots crossed the block. By the time the last lot hammered, collectors around the globe were thrilled with the superb specimens that would now be landmark pieces in their holdings.”
Statistician for the coin hobby, P. Scott Rubin reported, “At $85,318,218.50 the Pogue Collection is now far and above any other collection ever sold at auction in total proceeds and there is still more to go! The 61 coins that sold brought over the high estimate value for those, setting numerous records along the way. Eleven coins pedigreed to the D. Brent Pogue Collection Part IV will now be included in the Top 250 Auction records.”
“Our sale of the D. Brent Pogue Collection, which is still ongoing, has broken world records left and right. Nothing like it has ever happened before! Considering the rarity and the quality of the coins offered, it will never happen again. As I said before, those participating have had a rendezvous with destiny!” remarked Stack’s Bowers founder Q. David Bowers.
A world record sum of $10,575,000 was bid from the phone for the finest known 1804 dollar, the highest price ever offered for any coin, but it did not surpass the consignor’s reserve price. The previous world record of $10,016,875 was bid in the Stack’s Bowers Galleries January 2013 sale of the finest known 1794 dollar.
The only collectible specimen of the extremely rare 1822 half eagle, or $5 gold piece, received a phone bid of $7,285,000, a bid surpassed among gold coins by only the 1933 double eagle $20 gold piece that brought $7,590,000 in 2002. The 1822 half eagle was retained by the consignor after it did not meet their reserve price. Only two other examples of this rarity exist, both in the Smithsonian Institution.
Eight additional coins sold for more than a half million dollars, led by the finer of two known 1825/4 half eagles which brought $940,000. Three other half eagles realized $822,500 each: the 1829 Small Planchet $5, the 1832 12 Stars $5, and the 1835 Proof $5. A superb 1795 Draped Bust dollar brought $763,750. The same sum, $763,750, purchased the 1829 Large Planchet half eagle. The first half dollar of the New Orleans Mint, the extremely rare 1838-O, brought $493,500. The finest known 1838-C half eagle, struck in the first year of production at the Charlotte (NC) Mint, realized $235,000 against a $60,000-$90,000 estimate. The prices realized for the night totaled $16,749,038.
As details for future sales become available they will be posted on the website along with the results of this sale. Please visit the Stack’s and Bowers website.