Coins We Love: The Hansen Update
A few weeks ago, Julia, Mike and I had the pleasure of spending a week in Salt Lake City, working with the Hansen Collection. One of our main goals and tasks with the collection as it has grown into thousands of coins, was to organize the collection further and to get each of the coins in the set re-holdered (or branded as Mr. Hansen prefers to call it) with a special label so that we would be able to display some of the coins in the near future. In addition, we were having each of the coins imaged professionally so that we would have a photographic record of each of the coins as well. While this task doesn’t seem as formidable as one may expect, when you realize that you have to organize, describe, and write-up over 8,000 coins in a week, it gets a little nerve-wracking. In hindsight, this Herculean task has to be one of the most difficult weeks professionally that I’ve ever had. Now you might think, you’re playing with the Greatest Collection of U.S. Coins ever assembled, what could possibly be hard about this? Well, you’d have a point. It was an absolutely incredible time, getting to hold some of the rarest and highest quality U.S. coins, but the sheer volume and complexity of the project was daunting.
While working in the coin business, you don’t necessarily have typical “bank hours”. In fact, as a business owner, the hours are sometimes 24/7, but for this project, our days started around 7:30am and concluded somewhere between 8:30-9:30pm. Thankfully it didn’t feel like work, but I will admit that separating statehood quarters at 8:30pm, I started confusing all of my National Parks and there’s a strong possibility that I had NEVER seen several of these issues in-hand before. And, I’m ashamed to admit that I didn’t fully understand the difference between Satin Finish coins and the regular mint-issued pieces for circulation. However, now I’m a much more well-rounded numismatist as I not only separated a set of Proof Bust Dollars, but also a set of modern Statehood Quarters.
When viewing the collection at the 10,000 feet level, you think it’s rather awe-inspiring. Then you realize that completing a set of coins from 1792-Present isn’t just amazing classic coins. That’s the romantic and interesting part for many, but once you add the modern issues on top of this (let’s say post-1964 is modern), that’s when the project becomes nearly impossible. Knowing Mr. Hansen well enough now, I realize that’s why he did this. While he is my business partner at DLRC, he’s an adviser and a friend, and when I get the opportunity to interact with his other associates, I’ve learned that the word “impossible” is not one that he would ever use. As a real estate developer, philanthropist, sports owner, and solar energy advocate, he has his hands involved in many different places, and while those are his businesses, coins are his passion. When you combine his personality with his passion, you get someone that wants to accomplish the impossible. And he’s just about done it.
After a week of these long days and intense studying of the coins, we walked away with a real feeling of pride and accomplishment. The majority of the collection is now presented in a much higher quality holder and label, and now we can view each of the coins through images when not physically able to hold the coins. One of our long-term goals is to work on a virtual museum of the collection, but that’ll take a few more steps before we are ready to proceed with that. There are still some coins that we want and there are still opportunities to upgrade other items that will eventually fit into the collection. While we continue to work towards these goals, we’re privileged to be able to offer selections from the Hansen Collection in our upcoming auctions starting this week. We hope that you’ll find something of interest in this week’s sale, but don’t be shy about coming back as DLRC is the exclusive home of first shot at coins from the D.L. Hansen Collection!
Sincerely,
John Brush and Your Friends at DLRC
Why we love it: This piece is a truly amazing survivor that has not been on the auction block as a graded coin ever. It was last seen in 1996 as part of the Eliasberg auction when the coin was uncertified. In fact, on the PCGS CoinFacts, the grade of the coin is estimated as an MS65 RB. Regardless of the grade, the coin is indeed a special offering, and while there is plenty of reddish-rose tint remaining, the smooth, chocolate surfaces are pristine and lustrous.
Value: This coin, having never been auctioned while certified, on top of being CAC approved and having the coveted Eliasberg pedigree, defines the phrase “one of a kind” and is incomparable to any price guide. However, our starting bid of $150,000 for this CAC’d near-gem Eliasberg Large Cent is in our opinion a fair starting point.
Why we love it: Civil War Date Double Eagle recovered from the famous SS Republic shipwreck from 1865 off the coast of Savannah, Georgia. This historic numismatic treasure comes with both its Certificate of Authenticity and well-deserved CAC approval. Choice uncirculated with incredible luster, color and so few marks compared to what would be expected from this grade.
Value: The PCGS Price Guide has this coin valued at $7,500 in MS62 and jumps to $19,500 in MS63. The PCGS Price Guide also does not factor in any premium for CAC approval and pedigrees which this stunner possesses. Our best price via the Make Offer function on the DLRC website is $10,250.
Why we love it: Gorgeous red gem with a light golden tint and a low mintage of just 1,725 coins struck in proof format. Absolutely perfect for the grade with astounding mirrors that appear to be of Deep Cameo quality, though none have been graded by either service with the Deep Cameo designation. Just three examples are graded finer at PCGS.
Value: The most recent sale of a comparable piece sold in May and it brought $6,170. The coin also comes with a PCGS Price Guide value as high as $10,500. With these numbers, we feel a starting bid of $6,500 is fair for our gorgeous example.
Why we love it: The 1936 is a key proof issue that is scarce in gem grades and higher. From a tiny original mintage of just 5,569 coins. Beautiful satiny surfaces with no noticeable marks creating nearly perfect eye appeal. Only a single Proof 67 is graded finer by PCGS, and it resides in the Hansen Collection.
Value: The only two recorded auction sales comparable to this piece brought $12,925 in 2014 and $13,513 in 2019. The PCGS Price Guide Value falls right between those two numbers at $13,500. All that being said, we feel a starting bid of $12,000 is overly reasonable for our lovely satin proof example.
Why we love it: A scarce issue from the Carson City Mint with a mintage of just 20,770 pieces in which far fewer survived. Just nine examples have been graded finer by PCGS. Clear, lustrous surfaces with almost no visible signs of wear combined with perfect original coloring make for ideal eye appeal.
Value: The PCGS Price Guide Value for this coin is set at $22,500. Our best price via our Make Offer function on the DLRC website is $21,500. That is a solid one-thousand-dollar discount off the price guide.
Why we love it: A key Indian Gold Eagle issue from the Denver Mint with a mintage of just 30,100 pieces. This stunning slider exudes luster and eye appeal. It looks nearly uncirculated as any wear barely can be seen by the naked eye making the CAC approval unsurprising.
Value: The PCGS Price Guide Value for this coin is set at $6,500. This coin is available on our website via our Make Offer function for $5,750. That is a fair $750 discount off the price guide.
Why we love it: A scarce Half Eagle issue from the incredibly popular Charlotte Mint with a low mintage of 28,457 coins struck. Light wear is noticeable on the curl of the hair and on the eagle's wing on the reverse but is otherwise an attractive, lustrous piece with nice overall eye appeal. Just 14 examples have been graded finer by NGC.
Value: The PCGS Price Guide and CPG Value are far apart with their estimates at a respective $7,500 and $6,000. We gladly offer a starting bid below even the CPG Value at just $5,600.
Why we love it: The 1920-S Walker is a much scarcer and desirable issue in its series and this coin is a lustrous, high grade example of this key date with pale greenish-gold toning. This near-gem is out-graded by just 62 finer examples at PCGS out of the six-figure survival estimate.
Value: Since the summer of 2018, five comparable pieces have sold in auction with the lowest of the bunch bringing $4,935. The PCGS Price Guide Value for this coin is much higher at $7,500. With these numbers, we feel a starting bid in this week’s auction of $4,950 is fair.
Why we love it: A gorgeous gem example of this slightly better date Saint Gaudens Double Eagle that becomes even more difficult in high grades. Beautiful luster and minimal number of blemishes give this high-end Saint type coin premium eye appeal. There are just 19 examples graded finer at PCGS.
Value: The PCGS Price Guide and CPG Value are far apart with their estimates at a respective $5,000 and $6,000. We gladly offer this coin below even the PCGS Price Guide at just $4,850 via Make Offer.
Why we love it: A popular Small Eagle Draped Bust Dollar type coin with the 13 Stars Obverse. This choice VF example provides unique, exceptional eye appeal highlighted by its rainbow toning around the rim and some of the devices. This example boasts light, even wear with no detracting marks or discoloring, making this piece the ultimate type coin.
Value: With the PCGS Price Guide at $7,000 and the CPG Value sitting at $7,750, the two are quite comparable. We gladly offer a best price below both price guides at just $6,500.
Why we love it: A gorgeous superb gem example of this popular type coin that becomes difficult in high grades. In fact, only a pair of MS67+ examples are graded finer by PCGS. The beautiful toning consists of gorgeous rose and gold obverse rim tints, converting to blue on the reverse.
Value: The PCGS Price Guide has this coin valued at $22,000, although a premium for the CAC approval is not factored into that estimate. This beautifully toned CAC’d Barber Half Dollar is available via Make Offer at the reasonable price of $23,500.
Why we love it: Key Carson City Morgans are as desirable as anything in Numismatics. With an allure spanning the generations, these scarce CC-Mint silver dollars are always in demand. This piece, boasting the Capped Die over-mintmark variety, offers exquisite golden surfaces with flashy luster. It even has a CAC seal of quality approval, placing it among the best of the best for its grade.
Value: The PCGS Price Guide has this coin valued at $13,000, although a premium for the CAC approval is not factored into that estimate. The best price via Make Offer for this golden, lustrous, CAC’d key CC Dollar is set low at just $10,750.
Why we love it: The 1856 Slanted 5 Large Cent is the perfect type coin for its series, especially in this lovely near-gem condition. Silky smooth chocolate brown surfaces with stunning luster and some gorgeous red shining through. Surprisingly just 49 examples of this Braided Hair type coin are graded finer by PCGS with the brown color designation.
Value: Our best price via the Make Offer function on our website is set at $435. The PCGS Price Guide has this near-gem Large Cent valued at $450 leaving a potential buyer with a fair $15 discount.
Why we love it: The 1937-D 3-Legged Buffalo is a scarce and popular variety, highly sought after by even non-Buffalo Nickel collectors. There is a total survival estimate by PCGS of just 10,000 coins. Light even wear and coloring make it a nice representation of the grade. This choice VF example is a perfect opportunity to acquire this incredible coin for a relatively affordable price.
Value: Our best price via our Make Offer function is set at $600. The PCGS Price Guide has this incredible Buffalo Nickel variety valued at $650 leaving a potential buyer with a fair $50 discount.
Why we love it: The start to one of the most popular and collectable series and mints. This first year of issue Morgan hails from the Carson City Mint and is an affordable option for quite an important issue. This pretty AU shows faint signs of remaining luster and has a light coating of natural and original toning.
Value: Our best price via our Make Offer function on the DLRC website is set at $225. The PCGS Price Guide has this first year CC-Mint Morgan valued at $200 leaving a potential buyer reasonable value.
Check out all of the available "Coins We Love" from past newsletters