1936 Canadian Dot Cent brings $402,500 to lead NYINC World Coin Auction

NEW YORK — Heritage Auctions’ World Coins division kicked off 2010 over the New Year’s weekend at the Waldorf Astoria in Manhattan, setting an in-house record total with its $11 million+ Signature® World Coin Auction, Jan. 3-4, with the most famous Canadian coin in existence, the best of three known George V 1936 Dot Cents, leading all coins with a final price realized of $402,500. All prices include a 15 percent buyer’s premium.

"We don’t see any weakness in the world coin market right now," said Cristiano Bierrenbach, Director of International Sales at Heritage Auctions. "It almost seems strange to say it, but it’s true. Usually one area or another will show some kind of slowdown, but there were a record amount of bidders vying for almost every coin in this auction, especially The Canadiana Collection, as the more than 90 percent sell-through rate indicates."

The Canadiana Collection did indeed top all entries into auction and set coin collectors across Canada, and the world, abuzz with its stunning array of offerings. In the process of realizing $3.85 million total, it made international news with the sale of the 1936 Dot Cent, KM28, Specimen 66 Red PCGS, Ex: Belzberg, the finest of three known, as mentioned above.

Long considered essentially uncollectible since noted numismatist John Jay Pittman had held all three known examples from 1961 until his death, these coins were struck in 1937 prior to the creation of coinage dies for George VI but never released for circulation. Since first re-appearing on the market more than a decade ago, and now well-scattered, the three 1936 Dot Cents create great excitement whenever one appears on the auction block.

While it didn’t garner the same level of media attention as the Dot Cent, a 1934 Australian Proof Set, also featuring George V, KM-PS11, comprising KM22-27, certified and graded by PCGS, generated high interest and spirited bidding from collectors of Australian coins, ultimately bringing more than four times its low estimate of $60,000 to settle at $276,000.

"This is just an absolutely spectacular set, possibly the finest known and certainly the highest certified," said Warren Tucker, Director of World Coins at Heritage Auctions. "It’s certainly very rare and now it’s the centerpiece for a very advanced collection."

Also from The Canadiana Collection, a 1921 Canadian 50 Cents, KM25a, MS66 PCGS, Ex: Bass-Belzberg-Brown, known as the ‘King of Canadian Coins,’ and also featuring England’s King George V, proved very popular with collectors on its way to a final price realized of $218,500, while the much-heralded 1936 Canadian Dot 10 Cents Specimen 68, KM23a, Specimen 68 PCGS, Ex: Pittman, lived up to its billing as the finest known survivor of the issue as collectors bid the coin up to a price of $184,000.

For full auction results on this and other Heritage Auction Galleries auctions, visit www.ha.com.

Photos courtesy Heritage Auction Galleries.


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