2016-02-13 Sat

Even though the third Stack's Bowers auction of the D. Brent Pogue Collection which took place on 9th February, did not feature the starry coins like the singular seven-figure rarities of the first and second auctions, it fetched a super-impressive $17,135,612.50.

The total for the three Pogue auctions which started in May 2015, now stands at $68,577,182, with more to come. The next instalment of the Pogue Collection auctions will take place in May 2016.

The finest known 1815 Capped Head $5 gold half eagle hogged the limelight in the third auction. This coin which has been graded MS-65 by Professional Coin Grading Service, was priced at $750,000 to $1 million and ultimately sold for $822,500.

A total of 635 such coins were struck, probably in less than an hour on 3rd November 1815 for Thomas Parker, Charles Kalkman, and the Bank of Pennsylvania, who deposited the gold bullion. After the War of 1812, just four denominations were coined: cents, quarter dollars, half dollars, and half eagles. Though none of the 1815 cents carry the date 1815 and were likely dated 1814 using leftover dies. At the start of the 20th century, just six or so 1815 half eagles were known, and over the next several decades a few more were discovered.

The coin is not just rare, but also extremely beautiful, as described by cataloguer John Kraljevich as follows: “Coppery orange highlights are scattered across the richly original deep yellow surfaces, fairly subtle on the obverse but quite bold on the reverse, where this deeper colour dominates the lower periphery. The lustre is thorough and complete; blanketing both sides with a depth few specimens of any date of this type could match. The strike is complete and the surfaces are free of significant defects.”

Apart from this coin, many other copper and silver coins were sold at the auction. A 1793 Liberty Cap half cent graded Mint State 65 brown by Professional Coin Grading Service was sold for $446,500.

Pogue’s 1793 Flowing Hair, Chain cent, graded MS-65 red and brown by PCGS and featured the AMERICA, No Periods reverse (the Sheldon 3 die variety), was another major attraction at the auction.

The finest certified 1814 Capped Bust, Small Date dime, graded MS-66+ by PCGS was sold for a whopping $94,000.