SAN FRANCSICO, CA. (March 24, 2014) – The legendary 1927-D double eagle led the way with a sale price of $1,292,500, as Heritage’s March 20 auction of Gold Rush-era coins from The Collection of Donald E. Bently in San Francisco raised nearly $8.9 million for Bently Foundation, which launched last week. Proceeds from this auction go directly to the Bently Foundation, established by Christopher Bently, the son of the late Donald Bently, to support the communities served by Christopher’s diverse suite of companies with the belief that with corporate success comes the responsibility to engage with the community and inspire positive change. Bently Foundation is 100% dedicated to fostering support for organizations that cultivate the arts, advance environmental sustainability and aid animal welfare.
“The coin auction exceeded our expectations,” said Christopher Bently, Founder of Bently Foundation. “We were able to raise nearly 9 million that will directly benefit organizations that align with Bently Foundations core values of cultivating the arts, advancing environmental sustainability and aiding animal welfare.”
“We are thrilled with the overall success of the coin auction, which not only raised a significant amount of funding for Bently Foundation, but awareness of the organization and the communities it serves,” stated Camille Crowder, Development Director of Bently Foundation. “Through the launch of Bently Foundation, we’ve received interest from non-profit organizations based in the Bay Area, Nevada and beyond, who are in need of grants to continue the valuable work they do throughout the year.
The 1927-D double eagle is both the rarest regular issue 20th century coin and the rarest coin minted at the Denver Mint. Only seven times has an example crossed Heritage’s auction block, and only seven examples are known to be available to collectors. Given the rarity of the coin and the popularity of the Saint-Gaudens double eagle series, we expected high demand for this coin, and it did not disappoint.
The Bently Foundation’s emphasis on Northern California and Nevada covers an area that encompasses two present and past US mints along with far more than its share of numismatic history. The fabled Carson City Mint has produced more than its share of rarities, such as the 1870-CC double eagle, considered the fifth rarest issue in the Liberty double eagle series behind the ultra-low mintage 1882 and 1886 circulation issues, the 1856-O, and the nearly uncollectible 1861 Paquet reverse coin struck in Philadelphia. No 1870-CC double eagles have ever been certified in Mint State grades by any major grading service, making high quality AU examples that much more desirable, with the Carson City mintmark only adding to the coin’s allure. The Bently specimen is graded AU53 by PCGS, and is likely one of the five finest specimens known. It sold for $411,250. Another 1870-CC issue, an eagle graded AU53 by NGC, realized $135,125.
Christopher Bently, Founder of Bently Foundation, holding the legendary 1927-D double eagle which sold for $1,292,500
San Francisco, the site of the auction, was represented in this collection not only by issues from the San Francisco Mint, but also by gold pieces, technically ingots, struck during the California Gold Rush before the mint was established. Chief among the territorial issues represented in this auction was an octagonal $50 piece with lettered edge struck by US Assayer Augustus Humbert in 1851. Seldom seen in Mint State, the finest example from the Bently Collection was graded MS60 by PCGS and sold for $282,000, while a similar piece graded AU53 by PCGS brought $164,500.
Rarities from the San Francisco Mint were also well-represented in this auction, including a 1930-S double eagle MS65 PCGS which sold for $176,381, an 1854-S quarter eagle Good 6 PCGS selling for $193,875, an 1878-S half dollar MS63 PCGS at $129,250, and an 1864-S eagle AU53 NGC which brought $146,875.
