At the end Heritage Auction Galleries' Central States Numismatic Society Convention Platinum Night Auction on Thursday, April 30, the Adams-Carter specimen of the Class III AU 58 PCGS 1804 silver dollar lived up to its billing as "The King of Coins" when Bedminister, NJ collector John Albanese topped all others with a $2.3 million bid, including the 15% Buyer's Premium. The total for the Heritage CSNS Auctions is currently at approximately $45 million with post-auction buys continuing at www.HA.com.
"There was never any question of whether it was going to be the top lot in the auction," said Greg Rohan, President of Heritage. "Whenever you have an example of the most famous coin in the world it's going to be a big night. In this case, at $2.3 million, it set a new world record for its class. Thursday night's price made this particular 1804 dollar the seventh most valuable coin ever sold at auction."
The Class III 1804 $1 received widespread coverage in the mainstream media in the days leading up to the auction, and the buzz in auction gallery was equal to the advance publicity. As coin collectors and curious onlookers alike watched the auction live in Cincinnati and on HERITAGE Live!, the company's real-time proprietary online bidding platform, there was a collective hush as the coin climbed past $2,000,000 and spontaneous applause when this most famous of coins finally found its new owner.
While the Adams-Carter 1804 $1 grabbed the headlines, the overall success of both the rare coins and the rare currency auctions is the hidden story in the whole night.
"The total prices realized in these auctions speaks to the continued strength of the rare coin market when there are precious few places with such fortitude," said Rohan. "Even if you take out the $2.3 million on the 1804 $1, you still have an almost $42 million auction; by any standards that's a good return."
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