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Rare coin rundown: Draped Bust silver dollar sells for $3.8 million
by Blanchard | August 15, 2013

Late Nevada recluse's numismatic hoard sold off in Carson City for $3.2 million
Top-of-the-line rare coins, like fine art, continue to command the highest prices. The latest evidence can be found in suburban Chicago, where the American Numismatic Association's World's Fair of Money is being held this week.

On Aug. 9, an extremely rare Draped Bust Silver Dollar dated 1804 was sold for $3,887,500. Only a handful of these coins exist, and most notably, they weren't minted in 1804 despite carrying that date. They were actually struck between 1834 and 1835, after President Andrew Jackson ordered proof sets to be minted as gifts to foreign heads of state. Coins were given to Rama III, King of Siam, and Said bin Sultan, Sultan of Muscat and Oman. This sale proves yet again that the rarest numismatic coins can increasingly match the seven-figure sums that collectors pay for highly sought-after fine-art pieces.

Late hermit's numismatic hoard sold
The remainder of a massive gold and silver collection belonging to late recluse Walter Samaszko Jr., 69, who died last summer, fetched $3.2 million in an Aug. 6 sale at the Carson City courthouse.

That brings the total raised by selling off the collection to more than $6.7 million. After taxes and expenses, all the money will go to his sole heir, cousin Arlene Magdanz of San Rafael, Calif.

The first sale of Samaszko's coins, in February, comprised his bullion collection and commanded $3.5 million, whereas the Aug. 6 auction featured his numismatic collection, including numerous Saint-Gaudens, Indian Head, and Liberty gold coins. A total of 2,457 gold coins, mostly high-quality U.S. $20 gold pieces from the 1800s, and an unknown number of silver coins were auctioned off.

Carson City coins "hot"
And speaking of Carson City, Numismedia's August 2013 report focuses on price strength in coins from that city's mint. "Not only are the GSA Carson City Dollars hot, so are all of the Carson City denominations. Recently we have noted the strong demand for Twenty Dollar Liberties from the Carson City Mint. Another series that has created quite a stir among collectors is the Seated Half Dollar."

PCGS opens Shanghai office
The Professional Coin Grading Service opened its first on-site certification service in mainland China on July 20in an effort to tap into the powerhouse economy's increasingly affluent population and its affinity for gold and other collectibles. The first two coins graded were a perfect condition one kilo 2013 People's Republic of China proof gold 10,000 Yuan and a rare 1911 long-whiskers dragon gold pattern one Yuan. Modern Chinese coins dated after 1979 and vintage Chinese coins from the late 1700s to the mid-20th century locally available in mainland China can be submitted for grading.



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