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1936 Dot cent realizes $350K
By Michael Findlay
Three days into 2010, a 1936 Dot cent sold for $350,000 US in New York, part of a sale of Canadian coins that saw nearly $4 million US realized.
This example of Canada's most famous cent, graded SP-66 Red by PCGS, was part of the Canadiana Collection. The collection was sold Jan. 3 at the Waldorf Astoria Hotel in New York. It was considered by many to be the finest collection of Canadian coins ever assembled.
Heritage Auctions, which conducted the sale, declined to reveal the name of the consignor, who wished to remain anonymous.
In total, 365 coins crossed the auction block, including some of Canada's greatest rarities in the highest possible grades.
An 1859 Narrow 9 cent in PCGS MS-66 Red realized $10,000, while an 1887 cent in PCGS MS-66 Red brought $15,000.
Highlights among the 5-cent coins included an 1884 in PCGS MS-65 that realized $17,000; a 1921 in PCGS MS-67 that brought $100,000 after opening at $45,000; and a 1926 Far 6 in PCGS MS-65 that sold for $16,000.
There were many rare 10-cent pieces. Among them, an 1875H in PCGS MS-64 sold for $20,000 and an 1884 in MS-65 sold for $30,000. One of the outstanding rarities was an 1889 in PCGS MS-66, which realized $75,000, and a 1936 Dot in PCGS SP-68 – the finest of the three examples in private hands – changed hands for $160,000.
In the 25-cent section, an 1874H in PCGS MS-67, arguably the finest Victorian issue of any date, was hammered down for $45,000. An 1875H Blunt 5 in PCGS MS-64 sold for $55,000; an 1880H N0/W0 in PCGS MS-65 sold for $24,000; and a rare 1906 Small Crown in PCGS EF-45 realized $14,000, with lively bidding. The third pillar of the 1936 Dot set, a 25-cent piece in PCGS SP-68 realized $70,000. In Specimen condition, this coin is as rare as the Dot cent or 10 cents. The buyer of this coin also purchased the 10 cents, to complete the only known 1936 Dot Specimen set, which includes the 5 cents, 50 cents and dollar (although these three don't have dots).
The 50-cent section realized many of the sale's highest prices. The finest known 1870 No LCW, graded PCGS MS-64, was hammered for $75,000; the finest known Victorian 50 cents of any date, an 1871H in PCGS MS-67, sold for $105,000; and an 1872H A/V in MS-64 sold for $75,000. Many bidders' favourite was the 1890H 50 cents, a blast white gem graded MS-64, by PCGS. It opened at $90,000 and sold for $130,000.
The king of Canadian coins, the 1921 50 cents, was represented here by a PCGS MS-66 example. It was hammered down for $190,000.
The silver dollar section did not have many coins, but it included a 1935 in PCGS SP-68 that sold for $26,000, and a 1947 Pointed 7 in PCGS SP-67, which realized $14,000.
The sale ended with the Canadian gold coin collection. A 1909C sovereign in PCGS MS-65 sold for $16,000, and the rarest of all sovereigns, a 1916C, this one graded MS-65 by PCGS, sold for $75,000.
In total, the collection realized $3.845 million US.
The above prices do not include the 15 per cent buyer's premium.
February 2 to February 15, 2010 issue of Canadian Coin News
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