Rare New Discovery 1795 Reeded Edge Cent Realizes $402,500 for Bowers and Merena in Baltimore

December 12, 2008

Official Auction of the Baltimore Coin and Currency Convention Realizes More Than $6.2 Million

IRVINE, Calif. – Bowers and Merena Auctions, America’s leading rare coin and currency auction house, wraps up 2008 with their final auction of the year, the Official Auction of the Baltimore Coin and Currency Convention held November 18-22, 2008, at the Baltimore Convention Center. The auction realized a total of $6,280,880.

1795 S-79 Reeded Edge Liberty Cap Cent

The undisputed highlight of the auction was an exciting new discovery coin, lot 1143, an exceedingly rare 1795 S-79 Reeded Edge Liberty Cap Cent, one of just six pieces known to exist and the only example certified by PCGS or NGC. This 1795 S-79, Rarity-7+, Reeded Edge, graded Good-4 by PCGS and mounted in a special PCGS holder that allows easy viewing of the edge, was the subject of very lively floor bidding that brought it to the impressive realized price of $402,500.

 

"The sale of this lot was really one of my favorite auction moments of the year," said Steve Deeds, president of Bowers and Merena.

"We opened bidding at $70,000 and the floor just took off. It stalled a bit at about $180,000, and then just kept going, and finished with the room erupting in applause – it really was exciting to be there and watch it happen.

Everyone involved, including the buyer and consignor, are very pleased with the result, and this is a coin that won’t soon be forgotten."