A South African bronze coin fetches 184.000¢

The last currency sale, hosted by Heritage Auctions in New York, brought more than 10 million dollars 

New York, 01/17/12

 

Heritage Auctions has gotten off to a good start in the new year. Its two currency sales, the first focused on the currency section managed to attract an astonishing seven million dollars, while the second specialized in American coins achieved bids for 64 million dollars. In total, together with the sale 2-3 january covered in this article, Heritage registered more than 75 million dollars.

Among the highlights from the second and third of January sale, World and Ancient Signature Coins, were two South African coins. The first of which, with a previous estimate of 40.000 dollars, fetched 184.000 dollars. The bronze coin was a soveriegn pattern from 1928. The second coin was a five shilling piece from 1892 and was finally sold after several rounds of bids around the room, for 161.000 dollars. 

Another nation to benefit from the bidding trend was Brazil. A pair of coins of 6400 reas from 1827- one minted in Rio, the other in Bahia- were auctioned off for 143.750 and 126.500 dollars, respectivelly. Australia also shined thanks to a rare example of a George V copper coin from 1919. The rare and extremely unusual piece with scarce presence in the market was finally adjudged for nearly 87.000 dollars.

Cristiano Bierrenbach commented after the sale: "South African numismatics are quite hot and the prices in this auction show that, led by this beautiful pattern sovereign. This coin appealed broadly to collectors worldwide, for a variety of reasons, and ended up more than doubling its pre-auction estimate of 40.000 dollars... The prices reached in this sale were solid, the offerings were top shelf and collector interest was steady."

The new Chinese trend

Besides opening up new horizons for numismatics in the old colonies(South Africa, Brazil, Australia...), the sale also shred light on a harsher reality: the fall in prices of chinese collectible coins. The Chinese art market, although still fetching high end results, begins to land with falls in between 20 and 30% and the numismatic field is no exception. Bierrenbach noted: "Prices, although still stratospheric when compared to three years ago, are falling in respect to a few months ago". Alfonso Carbajo Agrasar