All Entries in the "Park Ave News" Category

Park Avenue Numismatics Handles Astonishing Unique Proof 1907-D Double Eagle

by Greg Reynolds for CoinLink

I. The Sale of this 1907-D $20 Gold Coin

During the course of the January 2010 FUN Convention in Orlando, arrangements were finalized for the sale of a 1907-Denver Mint Double Eagle that is possibly unique in Proof format. It is NGC certified as “Proof-62″ with a “Farouk” pedigree noted. It is thus indicated that it was formerly in the epic collection of King Farouk.

In November 2009, Carlos Cabrera, Executive Vice President of Park Avenue Numismatics, acquired it from a collector. This coin became the star of the FUN bourse floor. Cabrera then finalized the sale and handed it to a buyer of rare and important coins. Cabrera reports that the price “was well above a half million dollars.”

There is no evidence of another specially struck 1907-D Double Eagle ($20 gold) existing. It has been suggested that Proof 1906-D Double Eagles exist. I have seen the 1906-D that the PCGS has certified as “Specimen-66.” While that 1906-D Double Eagle is a wonderful coin with a very distinctive appearance, I find that this 1907-D Double Eagle fulfills the criteria for a Proof and that 1906-D does not.

Park Avenue Numismatics Sells Finest Known 1907 $20 St. Gaudens High Relief

(Miami Beach, FL)- November 18 2009, Park Avenue Numismatics has sold the Finest Known example of the 1907 $20 St. Gaudens High Relief Wire Rim graded MS69 PCGS with CAC (Certified Acceptance Corporation) approval for more that $600,000.

“Arguably the most desired of all $20 US gold coins, this Gem was the most incredible High Relief I’ve ever seen in my 25 years as a rare coin dealer ” said Bob Green, President of Park Avenue Numismatics.” It holds a place in numismatic history with a Pedigree to the famous Ed Trompeter collection. We are pleased to have been part of that history” stated Green.

Park Avenue Numismatics has bought and sold many of the rarest $20 St. Gaudens Double Eagles over the last two decades and was awarded recognition by PCGS (Professional Coin Grading Service) for assembling the Finest Know complete set of St. Gaudens, including the scarce 1927-D in 2005.

1907 $20 High Relief, Wire Rim MS69 PCGS. This issue was a revision of Saint-Gaudens’ Ultra High Relief double eagle, as the latter proved impractical for circulation strikes because it required seven blows from a 150-ton medal press to fully articulate the design. The “High Relief” could be struck after just three blows of the medal press. Over 12,000 High Relief twenties were struck by the end of December, 1907.

A so called “Wire Rim” protruded around the outer extremity in the coins, which resulted from excessive metal flow between the die face and collar during the striking process. Unlike today’s collectors who consider the Wire Rim to be a highly collectible variety, Mint officials considered it to be a striking deficiency. This “flaw” in the striking process was corrected around mid-December, and subsequent High Relief double eagles possessed what became known as a “Flat Rim.”

Park Avenue Numismatics Acquires Rare Date 1870-CC $20 Liberty Type 2 AU55 NGC FINEST KNOWN

April 1, 2009 - Park Avenue Numismatics is pleased to announce the acquisition of the Finest Known example of the rare and elusive 1870-CC $20 Liberty Type 2 Double Eagle graded AU55 by NGC worth an estimated $550,000. “We are fortunate to handle major rarities such as this and our clients’ rely upon us to continue to aggressively pursue and locate key date gold coins to assist them in completing sets and series, stated Bob Green, President of Park Avenue Numismatics. I’ve been trying to buy this particular coin for years and when it finally surfaced I went after the coin without hesitation,” Green continued.

Park Avenue Numismatics, a Miami based rare coin firm has handled this date before including a VF30 NGC example valued at $235,000*, two XF45 certified examples worth and estimated $370,000* each, two examples in AU50 PCGS conservatively valued at $425,000* and two example in AU53 NGC currently worth $475,000* each in the past several years. “Collectors contact us regularly with Key Date gold coins because of our stellar reputation in this specialized area of the market,” Green continued. Other numismatic rarities acquired recently include a 1933 $10 Indian MS65 NGC, 1907 Rolled Edge $10 Indian MS65 PCGS.

Interested sellers of rare date gold can contact Park Avenue Numismatics buying department Monday through Friday 9am-5pm EST via toll free 800-992-9881.

Inventory Updated

This has been a very active week for numismatic gold - as spot bullion continues to rise collectors are anxious to own rare date material before prices rise again. We’ve added hundreds of great new PCGS and NGC rarities to our on-line inventory. We invite you to browse among your favorite series using the links to the right, or view some of our Inventory Highlights. Please contact us if you require more details on any items listed.

As always, if you have coins for sale please give us a call at 800-992-9881. We are interested in buying quantity deals of U.S. Gold coins. Immediate funds are available.

We look forward to seeing many of you this Summer as we make our way across the country for some of the best shows around!! Stop by our tables for a visit.

Park Avenue Numismatics Acquires Key Date 1870-CC $20 Liberty

Miami Beach, FL - Park Avenue Numismatics has acquired an rare key date 1870-CC $20 Liberty Type 2 Double Eagle graded XF45 by NGC.

“As one of the top dealers of Carson Gold coinage we are fortunate to handle major rarities such as this. Our client’s rely upon us to continue to aggressively pursue and locate key date gold coins to assist them in completing sets and series, stated Bob Green, President of Park Avenue Numismatics.

Given the recent auction price realized of $299,000 for an XF40 example at Stack’s in June 2008, this XF45 coin would a make an outstanding acquisition for any collection of Double Eagle or Carson City Set!” The company currently has an asking price of $375,000