In the world of coin and currency collecting, significant sales often make headlines, and the recent Heritage Auctions in Long Beach was no exception. During the auction held from September 12-15, 2024, a stunning 1895 Morgan Dollar sold for a record-breaking $324,000, helping the auction total reach an impressive $11.5 million. Additionally, a rare 1928 $5,000 Federal Reserve Note contributed to the total, pushing the combined auction amounts to over $22 million. Let’s explore the details of these remarkable sales and the unique pieces that attracted collectors from around the world.
The Star of the Auction: 1895 Morgan Dollar
One of the highlights of the auction was the 1895 Morgan Dollar, which sold for $324,000. This sale shattered the previous record of $269,500 for the coin. The Morgan Dollar is a popular collectible, and the 1895 edition is particularly rare. According to Todd Imhof, Executive Vice President at Heritage Auctions, only about 880 proof coins were made, making this one of the most sought-after coins.
Details of the Morgan Dollar
| Feature | Description |
|---|---|
| Year | 1895 |
| Type | Morgan Dollar |
| Condition | PR67+ Deep Cameo |
| Sale Price | $324,000 |
| Total Circulation | Approximately 12,000 produced |
Other Notable Sales
The auction also featured several other remarkable items that attracted attention from bidders.
Congressional Gold Medal of Major General Alexander Macomb
Another popular item was the Congressional Gold Medal awarded to Major General Alexander Macomb, which fetched $240,000 after 55 bids. Macomb received this medal directly from former President James Madison for his service in the War of 1812. This specific medal is significant because it is the only one made in gold.
Other High-Value Coins
| Coin | Year | Sale Price | Description |
|---|---|---|---|
| 1909-O Indian Half Eagle | 1909 | $216,000 | Only issue struck at the New Orleans Mint |
| 1907 Rolled Edge Eagle | 1907 | $186,000 | A rare type coin with a unique design |
| 1907 High Relief Double Eagle | 1907 | $168,000 | Known for its exceptional design by Augustus Saint-Gaudens |
| 1796 Capped Bust Right Quarter Eagle | 1796 | $152,400 | Celebrated for its tiny mintage of 963 pieces |
U.S. Currency Auction Highlights
In addition to coins, the auction included significant currency notes. The top lot was the Fr. 2220-E $5,000 1928 Federal Reserve Note, which sold for an incredible price due to its rarity and excellent condition. This note comes from the Ronald R. Gustafson Collection and is considered the finest of its type.
| Currency Note | Year | Sale Price | Description |
|---|---|---|---|
| $5,000 Federal Reserve Note | 1928 | $10,587,005 | The finest known example from any district |
| $10,000 Federal Reserve Note | 1928 | $384,000 | Extremely rare, with only 7 known examples |
| $100 Legal Tender Note | 1863 | $216,800 | Known as the “Spread Eagle” note |
Conclusion
The Heritage Auctions in Long Beach showcased a stunning array of coins and currency that captivated collectors and enthusiasts alike. The sale of the 1895 Morgan Dollar for $324,000 and the $5,000 Federal Reserve Note leading the currency event at over $10 million demonstrate the incredible value and interest in rare collectibles. These auctions not only highlight the historical significance of these items but also reflect the passion of collectors who are willing to invest significant amounts to add unique pieces to their collections. As the market for rare coins and currency continues to grow, events like these play a crucial role in shaping the future of numismatics.
The strong interest in these items signals that both coins and currency notes will continue to be sought after in the years to come. For both seasoned collectors and newcomers, the excitement surrounding these auctions shows how these collectibles can connect us to history and culture in meaningful ways.
FAQ’s
What is the significance of the 1895 Morgan Dollar?
The 1895 Morgan Dollar is rare and highly sought after due to its limited mintage of only 880 proof coins, making it valuable among collectors.
Why did the Congressional Gold Medal for Major General Macomb sell for so much?
This medal is unique because it was the only gold version awarded to Macomb, making it highly collectible and historically significant.
What makes the $5,000 Federal Reserve Note from 1928 so valuable?
This note is the finest known of its type, making it extremely rare, with only 22 graded by PMG.
How do coin and currency auctions work?
Auctions allow collectors to bid on rare coins and currency, with the highest bidder winning the item. They often feature unique and historical pieces.Auctions allow collectors to bid on rare coins and currency, with the highest bidder winning the item. They often feature unique and historical pieces.
Where can I find more results from the Long Beach Auctions?
Complete results can be found on the Heritage Auctions website at HA.com/1377.