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Press Release - April 26, 2012

1792 Silver Center Cent Brings $1.15 Million To Lead Heritage Auctions’ $29 Million+ Central States Event

High grade, rare early gold shows considerable strength in Schaumburg, IL auctions

DALLAS, TX – In an auction that made international news, one of the first coins ever struck at the United States Mint – an experimental 1792-dated copper cent with a small silver plug in its center – realized $1,150,000 as the centerpiece of Heritage Auctions’ Central States Numismatic Society (CSNS) Platinum Night Auction, conducted in the Chicago suburb of Schaumburg, IL, Thursday evening, April 19. All prices include 17.5% Buyer’s Premium.

“There are only 14 known surviving silver-center cents, and this is the third finest known,” said Todd Imhof, Executive Vice President of Heritage Auctions. “In 1974, this same coin sold for $105,000 and now it brought $1.15 million.”

The coin was sold to a dealer from Southern California, Mr. Kevin Lipton, who was representing a group of investors.

The Heritage CSNS Auction, altogether, realized more than $29 million, with a sell-through rate by value of 91.66%.

“Collectors went after the offerings in this auction with particular energy, resulting in superb overall prices realized,” said Greg Rohan, President of Heritage Auctions. “While the gold market has been up and down in the last few months, there was no lethargy at CSNS.”

After the 1792 cent, the top lots of the auction were dominated by high-grade, rare late 19th Century American gold, with a superb Gem Proof Cameo 1885 $20 PR67 NGC, CAC leading the way with a price realized of $241,500, followed by an immaculate 1899 $20 PR67 Ultra Cameo NGC CAC , among the finest Proof examples surviving, which brought $207,000. An 1898 $20 PR67 Ultra Cameo NGC CAC, tied with three other coins for Finest Certified – one of just 75 pieces struck, and one of just 35-40 known to still exist – flirting with the $200,000 mark by realizing $195,500 after spirited bidding.

A 1900 $20 PR67 Cameo NGC, CAC, tied for Numerically Finest Graded 1900-dated double eagle, was the subject of intense collector interest, to the tune of $195,500, a price that was matched by an 1887 $20 PR65 Deep Cameo PCGS, CAC, Proof-Only issue, Ex: Dr. Loewinger, sole Finest Certified.

Further highlights include, but certainly are not limited to:

1863 $2 1/2 PR66 Ultra Cameo NGC, CAC: Realized: $195,500.

1836 $2 1/2 PR64 Cameo PCGS Secure, CAC: Realized: $195,500.

1921 $20 MS63 PCGS: Realized: $178,250.

1897 $20 PR67 Cameo NGC: Realized: $161,000.