Rarity purchased in 1960s for just $225
June 28, 2011, Irvine, Calif. – GreatCollections successfully auctioned the 1842-O $10 Liberty Eagle PCGS MS-60 CAC, after spirited online bidding took the final winning bid to $57,970.
The winning bidder was a private East Coast collector, who has a history of buying premium quality U.S. rarities with pedigree information.
The consignor inherited the coin from a family member who purchased it in the 1960s for $225 from Woodward and Lathrop, a Washington, D.C. department store. The original coin envelope remains intact.
Ian Russell, president of GreatCollections said, “Quality original coins like this rarely come on the market, and when they do, the excitement over the discovery attracts bidders from all over. This sale not only sets a record for an individual coin sale by GreatCollections, but also reflects the growing trend for premium coins to be sold in online venues.”
The coin is listed in the PCGS Price Guide at $40,000 and sold for over double the minimum bid set by GreatCollections. A total of twenty-five bids were received for the item, all placed online at the GreatCollections website.
GreatCollections is also pleased to announce the consignment of the Anacapa Collection of U.S. rarities, which will be offered by auction on August 21, 2011. The collection comprises a number of U.S. gold rarities, including an 1876-CC Double Eagle PCGS MS-61 CAC and a 1905 Quarter Eagle NGC Proof-65 Cameo CAC.
GreatCollections is an auction and direct sale venue for PCGS, NGC and ANACS certified coins,
as well as coins approved by CAC. GreatCollections handles each coin transaction from
start to finish. For sellers, GreatCollections offers professional imaging for each coin, cash
advances as appropriate, and other individualized services generally not available with the
large auction houses and other websites, freeing the seller to do nothing except collect the
proceeds of the sale. Buyers benefit by entrusting a venue whose principals have years of
coin experience and whose reputations in the industry are impeccable.