Eliasberg sale sizzles

Gavel and moneyWhat a combination! A room full of anxious buyers with plenty of money and one of the finest coin collections ever assembled is all it took to send sparks flying and prices soaring! For those of you new to the numismatic scene, the Eliasberg Collection, sold last month in New York City, represented the most complete assortment of United States coins acquired by one man. Ranging from the minor 1/2 cent right through the gold $50 Panama Pacific, Mr Eliasberg finished what no one ever had: a complete collection of every U.S. coin ever made. The gold portion was sold in 1982, with the 1870-S $3.00 bringing $687,000.00! If you think that is excessive, consider that the purchaser of this $3.00 gold piece has turned down $1,500,000.00 for this coin, and now it is $1,875,000.00. Other coins brought similar prices, and if this sale is any indication, the bull market in rare coins has begun! An eye popping $43,890,000.00 was the final hammer price for this astonishing collection! When you consider that Flowers, the famous painting by van Gogh, sold for $55 million, this amount seems too low for the best coin collection ever assembled. If this grand total represents the new “number to beat”, then you can be sure that significantly higher prices are ahead !

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