U.S. coin patterns sell for $30M+

LINCROFT, N.J. – A collection comprised of more than 1,000 U.S. coin patterns — coins struck for the purpose of evaluating a design before it enters general circulation — sold for more than $30 million to a collector who is referred to only as Mr. Simpson from somewhere in the West.

The sale set a record for a private-treaty sale, according to Legend Numismatics of Lincroft, the firm that brokered the deal. The seller wishes to remain anonymous.

“That shatters the record for the largest private sale of one person’s collection ever reported in numismatic history,” said Laura Sperber, who is a partner in Legend.
1877 50 J-1549 rev NGC.jpg1877 50 J-1549 obv NGC.jpg
Shown are three of the extraordinary coin patterns brokered in a recent $30M sale. Coin patterns are coins struck for the purpose of evaluting a design before putting a coin into general circulation.

Among the patterns acquired is a unique 1872 Amazonian gold set. This and the other patterns will be merged into what will be called the Simpson Pattern Collection.

Simpson has been acquiring coins through Legend for five years, Sperber said.

1792 disme J-10 rev Heritage.jpg1792 disme J-10 obv Heritage.jpg“Mr. Simpson especially enjoys copper patterns. He already had one of the finest pattern collections even before making this purchase of over 1,000 coins from the seller,” Sperber explained.

Sperber and her partner, George Huang, examined and inventoried all the coins, and then they and Simpson met with the anonymous seller to agree on the purchase.

“Just that fast, the deal was done,” she said.

“The inventory of the purchase is over 70 pages long. Combined with Mr. Simpson’s own pattern collection, he now has several hundred duplicates.
Yet, because of the grandness of this merger the duplicates alone would be a major, satisfying collection for anyone,” Sperber said.

The patterns in the deal have been authenticated and graded by Numismatic Guaranty Corp.

1792 J-1 silver center cent rev NGC.jpg1792 J-1 silver center cent obv NGC.jpg“The pattern collection assembled by Mr. Simpson ranks as one of the most significant in American numismatics today,” said Mark Salzberg, NGC chairman.

Among the patterns acquired is an 1877 $50 half union in copper gilt with Small Head obverse.

A 1792 silver center cent is another of the patterns.

A third is a 1792 disme in copper with reeded edge.

Contact Legend Numismatics, Inc., at P.O. Box 9, Lincroft, NJ 07738 for more information. Phone: (800) 743-2646. E-mail: legend@legendcoin.com. Web site: www.legendcoin.com.