Bowers and Merena Realize More Than $9.7 Million in Baltimore

1870-S Seated Liberty Silver Dollar from Farouk Collection Sets Record at More Than $700,000 and “Carl F. Chirico Jr. Collection of World Pattern Coins” Tops $2 Million

IRVINE, Calif. – Bowers and Merena Auctions, America’s leading rare coin auction house, set records once again in Baltimore as Official Auctioneer of the Baltimore Coin and Currency Convention. More than 3,200 lots crossed the block in four sessions February 28 – March 1, 2008, realizing $9,764,934.

Highlights include the record-setting sale of Lot 2035, a very rare 1870-S Seated Liberty Silver Dollar known as “The Farouk-Schultz Specimen,” certified VF 25 by PCGS, which realized $705,698, beating its previous sale price of $552,000 just months earlier in October 2007.

The “Carl F. Chirico Jr. Collection of World Pattern Coins,” 741 lots of worldwide Proofs, Patterns, Essais, Provas, Pieforts, and Trial Strikes, realized $2,028,278.

“I have to say we are ecstatic with the results of this Baltimore auction. Our last Baltimore auction in November 2007 was a record-setter for us and we exceeded its total prices realized by a significant amount,” said Steve Deeds, president of Bowers and Merena.

Deeds attributes the overwhelming success of this auction to a variety of factors. “The convention itself was outstanding as usual thanks to the undying efforts of Mary Counts, David Crenshaw and the Whitman team. The auction room was full and busy for all sessions, we had active phone bidding, plus live online bidding through the Bowers and Merena website, eBay Live Auctions and Proxibid. We did everything we could to make it convenient for our bidders, especially our international customers who couldn’t make it to the auction, and it was without a doubt very successful.”

Deeds also credits the extraordinary list of historic rarities that crossed the block, such as the 1870-S Seated Liberty Silver Dollar, the sixth-finest of only nine known to exist and boasting a prestigious pedigree and auction history that includes the 1935 Norman Schultz Auction and Sotheby’s 1954 sale of the King Farouk collection, “The Palace Collections of Egypt” auction.

“The winning bidder of this coin now owns a piece of history,” Deeds said. “It is an honor to be able to include Bowers and Merena in the life story of this piece.”

The grand finale of the three-day event was the Saturday session of Ancient and World coins that featured the Chirico Collection. Worldwide marketing and advertising efforts helped draw hundreds of new registered bidders to Bowers and Merena and created a buzz throughout the international numismatic community that led to a realization of $2,155,414 for the session.

“The Chirico Collection was the result of a lifetime of collecting efforts and many of these coins had not been available to the collecting community for decades,” Deeds said. “The enthusiasm for this collection was remarkable, starting months ago as we promoted the collection and displayed the highlights at various coin shows. Many lots in the collection realized far more than their printed value estimates in the catalog.”

Notable highlights include Lot 5378, a China, Republic (1911-), Sun Yat-sen Silver Pattern Half Dollar, Year 25 (1936), estimated at $4,000 to $5,000 but realized $46,000, and Lot 5334, a China, Republic (1911-), Yuan Shih-kai Silver Pattern Dollar by L. GIORGI, Year 3 (1914), which was estimated at $8,000 to $10,000 but realized $37,375. Also noteworthy is Lot 5864, a Poland, Republic (1919-39), Silver Pattern Proba 10 Zlotych, 1932 (Warsaw) originallyestimated at $500 to $600 but brought $13,225.

Prices realized for all lots in the Bowers and Merena Official Auction of the Baltimore Coin and Currency Convention are available online at www.bowersandmerena.com. This is the first of three Baltimore auctions by Bowers and Merena in 2008, continuing their longstanding and ongoing association with the convention – the next is scheduled for June 4-8 followed by November 19-23. Bowers and Merena will conduct its Chicago Rarities Sale in Rosemont, Ill., on April 15 prior to the Central States Numismatic Society Convention.

Session Highlights

Session 1: U.S. Coin Highlights With Prices Realized
Lot 258 1867 Shield Nickel. Rays. Proof-64 (PCGS). $57,500
Lot 352 1937-D Buffalo Nickel. FS-020.2. 3-Legged. MS-66 (NGC). $57,500
Lot 374 1794 Flowing Hair Half Dime. V-3, LM-3. Rarity-4. MS-67 (NGC). $232,501
Lot 608 1806 Draped Bust Half Dollar. O-116. Rarity-3. Pointed 6, Stem. MS-65 * (NGC). $69,000

Session 2: U.S. Currency Highlights With Prices Realized
Lot 1137 Fr. 239*. 1923 $1 Silver Certificate Star Note. Very Fine. $8,913
Lot 1139 Fr. 246. 1891 $2 Silver Certificate. PCGS Superb Gem New 68PPQ. $47,150
Lot 1143 Fr. 248. 1896 $2 Silver Certificate. PCGS Superb Gem New 67PPQ. $25,300
Lot 1169 Fr. 307. 1878 $20 Silver Certificate. PMG Very Fine 20. $54,050
Lot 1171 Fr. 321. 1891 $20 Silver Certificate. PCGS Gem New 65PPQ. $41,400
Lot 1195 Fr. 742. 1918 $1 Federal Reserve Bank Note. PMG Superb Gem Uncirculated 68EPQ. $16,100
Lot 1204 Fr. 817 1915 $10 Federal Reserve Bank Note. PCGS Superb Gem New 67PPQ. $35,650
Lot 1261 Fr. 2091-E. 2004A $20 Federal Reserve Note. Serial #GE00000001B PCGS Very Choice New 64PPQ. $8,050
Lot 1294 Fr. 2306 $1 1935A Silver Certificate. North Africa Uncut Sheet of 12. Gem Crisp Uncirculated. $21,275

Session 3: U.S. Coin Highlights With Prices Realized
Lot 2035 1870-S Seated Liberty Silver Dollar. VF-25 (PCGS). “The Farouk-Schultz Specimen” $705,698
Lot 2110 1884 Morgan Silver Dollar. Proof-68 * Ultra Cameo (NGC). $74,750
Lot 2314 1915-S Panama-Pacific Exposition $50. Round. MS-66 (NGC). $172,500
Lot 2508 1864 Three-Dollar Gold Piece. Proof-66 Cameo (NGC). $80,500
Lot 2517 1879 Four-Dollar Gold Stella. Flowing Hair. Judd-1635, Pollock-1832/1833. Rarity-3. Proof-62 (PCGS). $138,000
Lot 2721 1910-S Indian Eagle. MS-66 (NGC). $77,050
Lot 2860 1908-S Saint-Gaudens Double Eagle. MS-66 (PCGS). $92,000
Lot 2863 1910 Saint-Gaudens Double Eagle. Proof-66 (NGC). $94,300

Session 4: World/Ancient Coin Highlights With Prices Realized
Lot 5213 France. Third Republic (1871-1940). Gold 5 Francs. 1889-A (Paris). $14,950
Lot 5258 Algeria. Provisional Government (1940-44). Aluminum 1 Franc. Trial Strike by Graziani. 1943. $8,740
Lot 5308 Cambodia. Norodom I (1860-1904). Silver Piefort 1 Piastre-1 Peso. 1860. $26,450
Lot 5325 China. Republic (1911-). Li Yuan-hung Silver Dollar. ND (1912). $14,375
Lot 5334 China. Republic (1911-). Yuan Shih-kai Silver Pattern Dollar by L. GIORGI. Year 3 (1914). $37,375
Lot 5360 China. Republic (1911-). Chu Yu-pu Silver Dollar. Year 16 (1927). $29,900
Lot 5362 China. Republic (1911-). Sun Yat-sen Silver Pattern "Junk" Dollar by A. MOTTI INC. Year 18 (1929). $31,050
Lot 5378 China. Republic (1911-). Sun Yat-sen Silver Pattern Half Dollar. Year 25 (1936). $46,000
Lot 5392 China-Taiwan. Republic (1949-). Collection of (38) Coins. 1949-1966. $16,100
Lot 5544 France. Third Republic (1871-1940). Silver Pattern Essai 5 Francs by Roty. 1898. $12,650
Lot 5773 Italy. Vittorio Emanuele III (1900-46). Gilt Silver Prova di stampa 5 Lire. 1914. $12,650
Lot 5864 Poland. Republic (1919-39). Silver Pattern Proba 10 Zlotych. 1932 (Warsaw). $13,225

About Bowers and Merena Auctions

Bowers and Merena Auctions was founded in 1983 and has grown to become the world’s preeminent numismatic auctioneer with more than half a billion dollars in rare coin and currency sales. Bowers and Merena has handled four of the five most valuable United States coin collections ever sold, including the Louis E. Eliasberg Sr. Collection, the Harry W. Bass Jr. Collection, the Garrett Collection for The Johns Hopkins University, and the Norweb Collection.

For more information about Bowers and Merena and the Official Auction of the Baltimore Coin and Currency Convention in February/March, call 800.458.4646. For media inquiries, ask for President Steve Deeds. Complete prices realized for all past auctions are available a www.bowersandmerena.com.

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