DALLAS, Texas — One of only two Satin Finish proof examples known of the 1907 Rolled Edge Indian Eagle, JD-1, R.8, PR67 PCGS set an auction record when it sold for $2.4 million on the first day of Heritage’s GACC U.S. Coins Signature® Auction.
This result surpassed the previous record of $2.185 million, which was set when Heritage sold the same coin in 2011. It has been held in private hands ever since.
This coin is one of just two proof specimens and was struck using the same irregular stars edge collar as the patterns in the Smithsonian.
The coin was acquired by Mint Director Frank A. Leach in 1907. After he died in 1929, the coin remained in his family for almost a century and was unknown to the broader numismatic community.
In his book, United States Proof Coins, Volume IV: Gold, John Dannreuther describes the public reaction to the first appearance of the coin in the Heritage 2011 FUN auction:
“The appearance ……of an unknown superb specimen of this issue caused a sensation. Originally obtained by then Mint Director Frank A. Leach in 1907, this coin was previously unreported. Whenever a new example of a rare coin appears for the first time in the numismatic marketplace, the ripple effect is in full force. As it was examined by numismatic luminaries, the buzz increased, indicating to the author that a record price realized for an Indian Head eagle was at hand.”
And in fact, a record price was paid by Laura Sperber, acting as the agent for renowned collector Bob R. Simpson. The record price realized was an amazing $2,185,000
Full desciptions, history of the coin and additional information can be found in the auction listing at Heritage website.
Heritage Auctions is the largest fine art and collectibles auction house founded in the United States, and the world’s largest collectibles auctioneer. Heritage maintains offices in New York, Dallas, Beverly Hills, Chicago, Palm Beach, London, Paris, Geneva, Amsterdam, Brussels and Hong Kong.
The post 1907 Rolled Edge Indian Eagle Brings Auction Record $2.4 Million at Heritage appeared first on CoinWeek: Rare Coin, Currency, and Bullion News for Collectors.
