Ian Russell, president of Great Collections Coin Auctions of Irvine, Calif., bought three of the world's most valuable rare coins in 24 hours at two auctions. The three numismatic treasures were bought for $21.5 million by collectors, and now two of them can be displayed alongside the 1933 double eagle, which a Great Collections client bought for a record $18.9 million earlier this year.
“I bid in person on the 1794 and 1804 dollars, an 1861 Paquet double eagle, and several other key coins at two auctions for $24 million," stated Russell. Even after my California-Texas flight was canceled. Since collecting is my passion, helping collectors is really rewarding."
Russell bid the most for the top three most valuable coins at the American Numismatic Association's 2021 World's Fair of Money® by Stack's Bowers Galleries in Costa Mesa, California, and Heritage Auctions in Dallas, Texas
Best known 1804 Class I Original Draped Bust dollar, PCGS Proof-68, from Stack's Bowers. It was a diplomatic gift from President Andrew Jackson to the Sultan of Muscat in 1835 and was recently in the Pogue family collection. It sold for $7,680,000, making it the fifth most valuable U.S. coin.
Heritage's 1861 Paquet Reverse Double Eagle, PCGS MS-67 with CAC approval, is the finer of two known examples and was previously owned by Virgil Brand, King Farouk of Egypt, and Ambassador & Mrs. R. Henry Norweb. The winning offer was $7,200,000, the sixth-highest U.S. coin price.
1794 Flowing Hair dollar, PCGS MS-66+ with CAC approval, sold by Heritage and previously owned by Lord St. Oswald, Jimmy Hayes, D. Brent Pogue, and Bob R. Simpson. Winner: $6,600,000 is the highest auction price for a Mint State 1794 dollar.
We have negotiated several rareties privately over the years, but it was a coincidence that three of our main targets were auctioned in 24 hours, said Russell. We represented an experienced coin collector for the 1794 dollar. An unfamiliar GreatCollections client contacted us after reading about the 1933 Saint-Gaudens double eagle for the 1804 dollar. We bought two unique gold patterns for a 45-year-old collector who saw them as a "once in a lifetime" opportunity."
Russell showed the 1933 double eagle at the 2021 Chicago Money Fair. That display brought new collectors to GreatCollections during the past month, he said. "We are talking to the new owners of the 1804 and 1794 dollars about displaying them at a coin show for other collectors," he said. "We might even show the 1933 Saint again. Having three of the most renowned U.S. rarities at one event would be a "mic drop."
"Many bidders like to remain anonymous, especially high-profile collectors or celebrities," he said. They trust us to protect ultra-rares. I bid like I'm buying them for my collection. Some want a text message saying, 'We won.' Others want to talk to me about the bidding."
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