Expectations exceeded at Torex auction

According to the auctioneer, the Canadian Numismatic Company’s first no-reserve auction was a big hit. “The national interest seemed high, and this was reflected especially in the high number of registered Internet and mail bidders,” Marc Verret told Canadian Coin News. “That made for some long and aggressive bidding sessions, which I believe all on hand enjoyed.” Verret said both sessions were a success, with the second session being the strongest of the weekend. “Overall sales exceeded our expectations once again.”

The two-day event was held June 28-29 at Toronto’s Hyatt Regency Hotel, in conjunction with the June Torex show. The first session opened with Canadian paper money. Among the interesting items was lot 4, an 1870 Bank of Commerce $4 note in VG-18 with minor repairs. Despite the impairment, it sold for $767. The session also included a run of Bank of Canada 1935 $20 notes in English and French, which proved popular with bidders. There was a 1954 Proof-Like set, with all but the five-cent piece graded ICCS PL-66, which sold for $767. The session also included modern Royal Canadian Mint coins, and the first part of Canadian decimal coins.

The second session, which included the balance of the Canadian decimal series from five-cent up, was loaded with collector-grade coins, meaning coins with moderate pricing and good quality. A 1915 10-cent piece, PCGS MS-67, also the best known, sold for $7,788, while a 1904 25-cent piece, PCGS MS-66, went for well above $20,000. “We would like to thank all the consigners, as well as all the participants for their trust and loyalty in what they do,” Verret said. “It was a pleasure to offer for the time a fully non-reserved public sale.”

It was the first sale held by the firm since Torex moved to the downtown location. Louis Chevrier was the auctioneer for the spring Torex, held there earlier this year. “Sincere thanks also go to Brian Smith, and the staff of the Hyatt Regency, for putting together a great show and a super auction set-up. “We look forward to seeing everyone at our next sale at the Winnipeg RCNA Convention where we have another fantastic auction lined up,” Verret concluded. For more information go to www.tcnccoins.com.

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