Posted on 1/11/2019

The rarity, graded NGC PF 66, was purchased for $3,960,000 on January 10.

On the evening of Thursday, January 10, 2019, at the Heritage Platinum Night Auction hosted by the FUN Show, John Brush, President of David Lawrence Rare Coins (DLRC), and D.L. Hansen, the owner of the Greatest US Coin Collection of All-Time, acquired the famous and rare 1885 Trade Dollar, graded by Numismatic Guaranty Corporation (NGC) as PF 66, for $3,960,000.

Mr. Hansen, assisted by John Brush of DLRC, has been on a mission for the past two years to put together the first privately held coin collection of items from 1792 to Present. The “Eliasberg Quest,” as they call it, has been an incredible challenge for the duo, and this legendary rarity was another stop on the path to completion. According to calculations, the collection put together by Hansen has already surpassed the overall quality of the historic Louis Eliasberg Collection, even while missing a dozen tougher items.

1885 Trade Dollar Proof, graded NGC PF 66. Realized: $3,960,000.

Click images to enlarge.

The coin, which was graded and authenticated by NGC as PF 66, was last offered in a public arena in 1997. With a pedigree of Mehl, Eliasberg, Parrino, Morelan and Albanese, this piece was acquired by the owner of the Greensboro Collection in 2006 in a private transaction. The recent offering was also the first offering of one of the five 1885 Trade Dollars since DLRC sold the Farouk example in the Richmond Sale of 2004. While not as publicized as an 1804 $1 or a 1913 Nickel, this historic rarity is offered far less frequently than the other classic rarities mentioned. With no examples housed in the Smithsonian, ANA, or ANS museums, this incredible opportunity was truly a once-in-a-lifetime event.

Mr. Brush stated, “This opportunity to acquire such a legendary rarity is something that you can only dream about as a child. In fact, we had attempted to purchase this coin several times in the past year but were rebuffed each time. In the end, when we saw that it was being offered in the auction, we knew that it was an opportunity that could not be taken lightly. It’s truly an honor and a dream to work with a collector such as Mr. Hansen, and this purchase is certainly one of the highlights of my career.”

D.L. Hansen, left, and John Brush. Click image to enlarge.

Mr. Hansen, a Utah businessman and partner of DLRC, has been an active collector since childhood, but has only rekindled his passion over the last two years. In that small-time span, he has acquired what is widely considered to be the greatest all-time collection of US coins.

He commented, “This was an opportunity to buy the finest example of a true classic rarity. It will match incredibly with the 1884 Trade Dollar that we acquired a year ago. It also makes a real statement as we now have put together what is the absolute finest collection of Proof Trade Dollars ever assembled. When I viewed the coin in-hand, I was simply mesmerized, and I knew that it would be a perfect addition to the collection.”

This piece was another momentous acquisition by Mr. Hansen as the collection now houses many classic rarities and finest-known items. The 1885 Trade Dollar will join the 1804 $1, the 1907 Ultra High Relief $20, the 1876-CC 20c, the finest 1901-S Barber Quarter, as well as the most complete collection of US coins that has been privately assembled.

David Lawrence Rare Coins was founded in 1979 by David Lawrence Feigenbaum in a spare bedroom. A passionate collector his entire life, Feigenbaum made the jump to dealing when his collecting desires surpassed his limited professor’s budget. After David passed away from a long battle with ALS (Lou Gehrig’s Disease), David’s son John Feigenbaum took the reins and oversaw the company's growth until 2015. In August of 2015, John Feigenbaum became the Publisher of the CDN Publishing and passed operations on to John Brush.

Mr. Brush directs the company with the help of an extremely dedicated staff of 20 employees. The management team has a cumulative total of over 80 years with the company while DLRC’s numismatic team offers 100+ years of experience. They are deeply passionate about all aspects of coin collecting. DLRC holds weekly internet auctions and offers sellers the options of direct sale or consignment to auction. To work with David Lawrence or for any question as to how they can help your collection, please call 1-800-776-0560 or email coins@davidlawrence.com.

This is a guest article. The thoughts and opinions in the piece are those of their author and are not necessarily the thoughts of the Certified Collectibles Group.

Related link

NGC-certified 1885 Trade Dollar Sells for $3.96 Million at Auction