SOLD
42,500.00USDto floor+ buyer's premium
This item SOLD at 2005 Aug 19 @ 09:42UTC-08:00 : PST/AKDT
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As with most of the delightful specimens from this consignment, this overdate 1814 shows substantial detail to the highpoints not excluding the important hair curls above Liberty's ear and brow, those cascading along the neck, and other features of the portrait and surrounding stars. The mostly warm honey-gold surfaces display modest, yet pleasing cartwheel luster effects as the coin turns under the light, with a full accompaniment of frost throughout, including the key high points of the design where surface friction first occurs.
The 1813-29 and the following (Kneass's Modified Capped Heads, 1829-34) are by far the most difficult of all half-eagle designs to obtain. The reason is not low mintage, but extensive melting (which was a byproduct of the influx of silver from Mexican and Peruvian mines). This increase in the supply of silver on world markets compared with gold lowered the price of silver calculated in gold, emerging as a relentless rise in the value of gold reckoned in Mexican dollars. According to the Breen reference, "This is the reality behind the numerous statements about the world ratio rising from Alexander Hamilton's original 1791-92 estimate (15 to 1) to nearly 18 to 1. Its major side effects included hoarding and melting of older gold coins when their bullion value exceeded their face value by enough to afford a profit over the cost of melting. In the National Archives is a reference to public assays (Paris, 1831), at one of which some 40,000 U.S. half eagles of "recent mintage" (the elusive 1815-30) were melted and found to be of full weight and fineness. This was doubtless only one among many such holocausts, and more were to come through 1837."
Auction Location:
Studio 360 (Top of Loews), 1224 S. Beverwil Drive, Beverly Hills, California, United States
Previewing Details:
In Beverly Hills at Superior Galleries
(No Appointment Necessary)
Monday, May 23, 2005 through Tuesday, May 31, 2005
9:00 A.M. to 5:00 P.M.
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
20% |
Additional Fees:
Shipping Details:
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Payment Details:
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SUPERIOR GALLERIES TERMS AND CONDITIONS OF SALE TERMS AND CONDITIONS OF SALE -- 1. This is a public auction sale conducted by bonded Auctioneers. The bonded Auctioneer is Superior Galleries, Inc. (hereinafter referred to as "Auctioneer" and at times as "Superior"). 2. Bidding in this sale constitutes acceptance by you of all the Terms and Conditions of Sale stated herein, ("Bidder).
3. All photographs in this catalogue are of the actual items being sold but may not be the actual size or to scale.
4. All persons seeking to bid must have a catalogue and register to bid at the auction by completing a registration card or bid sheet. By submitting a bid, the Bidder acknowledges receipt of the catalogue. The Bidder further acknowledges that Bidder has read the Terms and Conditions of Sale, the descriptions for the lot(s) on which they have bid, and that they agree to adhere to these Terms and Conditions of Sale.
5. All material shall be sold in separate lots to the highest Bidder as determined by the Auctioneer. If any dispute arises, Auctioneer shall have the right to rescind the acceptance of the bid and place the lot(s) for Sale again. Auctioneer's decision shall be final. For the Mail Bidder's protection, no "unlimited" or "buy" bids will be accepted.
When identical bids are received for a lot, preference is given to the first bid received as determined by the Auctioneer. A mail bid will take precedence over an identical floor bid; a Floor Bidder and Telephone Bidder must bid higher than the highest mail bid to be awarded any lot. Auctioneer reserves the right to refuse any bid, to reduce any mail bid received, to open the bidding of a lot at any level deemed appropriate by the Auctioneer and to determine the prevailing bid, at his sole discretion.
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17. Bidder acknowledges as follows: Grading is an art and not a science. The grade and estimated value herein represents the opinion of Superior or its Consignor(s). It is possible that two people will not always grade the same item alike. Also, as market conditions change, grading standards change, and will most likely continue to do so in the future. Each Bidder's own examination of the item(s) is the criterion and not the grade represented by another. Every effort is made by Superior to determine provenance and authenticity. Questions regarding the minting of a coin as a "proof" or as a "business strike" relate to the method of manufacture and not to authenticity. It is the Bidder's responsibility to arrive at a final conclusion prior to bidding. In any purchase or sale, the value of the item(s) is determined by the price. THE BIDDER HEREBY ASSUMES ALL RISKS OF VALUE CONCERNING ANY AND ALL PURCHASES.
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Unless otherwise posted at the Auction Sale, for Bidders by mail or telefax, who have not had the opportunity to view the lot(s), if there is a material error in the catalogue description, the lot may be returned if written notice is received by Superior within five (5) calendar days of receipt of the lot(s). The lot(s) must be received by Superior no later than twenty-one (21) calendar days after the Auction Sale in the same condition the lot(s) were delivered to the Bidder, in their original containers. Late remittance constitutes just cause for revocation of all return privileges.
19. DISCLAIMERS AND WARRANTIES
ALL ITEMS OFFERED IN THIS CATALOGUE ARE GUARANTEED TO BE AUTHENTIC. THIS IS A LIMITED WARRANTY THAT THE ITEM SOLD IS NOT COUNTERFEIT, THAT ITS DATE OR MINTMARK HAS NOT BEEN ALTERED, AND THE ITEM HAS NOT BEEN "REPAIRED." ANY OTHER WARRANTY IS EXPRESSLY DISCLAIMED; THERE IS NO REPRESENTATION OR WARRANTY THAT A NUMISMATIC ITEM HAS OR HAS NOT BEEN CLEANED; THAT ANY TONING IS NATURAL OR ARTIFICIAL; THAT ANY ITEM WILL MEET THE STANDARDS OR GRADE OF ANY INDEPENDENT GRADING SERVICE; THAT ANY ITEM HAS A PARTICULAR PROVENANCE OR PEDIGREE, OR THAT AN ITEM IS STRUCK OR PRODUCED IN A PARTICULAR STYLE. ANY STATEMENT CONCERNING THIS IS A MATTER OF OPINION ONLY. NO WARRANTY, WHETHER EXPRESSED OR IMPLIED, INCLUDING A WARRANTY OF MERCHANTABILITY IS MADE WITH RESPECT TO ANY GRADE DESCRIPTION OR VALUE, WHICH IS ONLY AN OPINION THAT IS LIKELY TO DIFFER, EVEN AMONG EXPERTS. PURCHASER HEREBY ASSUMES ALL RISKS CONCERNING AND RELATED TO THE GRADING OF A LOT.
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Notwithstanding anything to the contrary in these Terms and Conditions of Sale, and except as otherwise posted at the Auction Sale, COINS LISTED IN THIS CATALOGUE GRADED BY PCGS, NGC OR ANACS CACHET, OR ANY OTHER THIRD PARTY GRANTING SERVICE MAY NOT BE RETURNED FOR ANY REASON WHATSOEVER.
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21. Superior reserves the right to withdraw any lot at any time, even after the hammer has fallen, until the Bidder has taken physical possession of the lot. No Bidder shall have a right to claim any consequential damages if a lot is withdrawn, even after the auction sale. Auctioneer will have the final discretion to determine the successful bidder, cancel the sale, withdraw the item, or to re-offer and re-sell the article during or in a future sale or return it to the consignor. If any dispute arises after the sale, the auctioneer's decision is final and conclusive.
22. Superior will not assume responsibility for the shipping and packaging of certain larger items or items of a more fragile nature sold in this sale, as determined by Superior. It is the Bidder's responsibility to contact Superior after the sale to make shipping and packaging arrangements. Due to the fragile nature of some lots, it may be necessary to charge additional shipping and handling. Lots indicated as being "framed" are shipped at the Bidder's risk.
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24. Bidder grants to Superior or its assigns the right to offset any sums due, or found to be due to Superior, and to make such offset from any past, current, or future consignment; purchases that are in the possession or control of Superior; or from any sums due to Bidder by Superior. Bidder further grants Superior a purchase money security interest in such sums or items to the extent applicable. Bidder agrees that Superior and its assigns shall be a secured party with respect to items bought by Bidder and in the possession of Superior, to the extent of the maximum indebtedness, plus all accrued expenses attorney fees and costs, until the indebtedness is paid. Bidder grants Superior the right to file a UCC on such items without need for Bidders signature, and to assign such interest to any affiliated or related company or any third party deemed appropriate by Superior.
25. In the event a successful Bidder fails to make payment when due, Superior reserves the right to resell the lot(s) in a commercially reasonable manner, which may include a private sale. Bidder agrees to pay for the reasonable cost of such a sale, together with any incidental costs of sale, including reasonable attorneys' fees and costs, cataloguing and any other reasonable charges.
26. If the auction invoice is not paid for in full when due per invoice terms, the unpaid balance will earn interest at the rate of one-and-one-half percent (1-1/2%) per month until it is paid in full. In the event this interest rate exceeds the interest permitted by law, the same shall be adjusted to the maximum rate permitted by law. Bidder agrees to pay all reasonable attorneys' fees, court costs and other collection costs incurred by Superior or any affiliated or related company to collect past due invoices. Superior reserves the right to assign its interest to any third party.
27. Title to any lot remains with Consignor, any secured party of the Consignor, or Consignor's assigns, as the case may be, until the lot is paid for in full by Bidder.
28. It is the Bidder's responsibility and obligation to have the lots fully insured while in his or her possession. Bidder assumes any and all RISK OF LOSS while the lot(s) is in Bidder's possession.
29. If a dispute arises concerning ownership of a lot that has been bid upon, Superior reserves the right to commence a statutory interpleader proceeding at the expense of the Consignor and successful Bidder and any other applicable party, and in such event shall be entitled to its reasonable attorneys' fees and costs.
30. Superior reserves the right to postpone the auction sale or any session thereof for a reasonable period of time for any reason whatsoever. No Bidder shall have any claim as a result thereof, including incidental or consequential damages.
31. Neither Superior nor any affiliated or related company shall be responsible for incidental or consequential damages arising out of any failure of the Terms and Conditions of Sale, the auction or the conduct thereof and in no event shall liability for any such failure exceed the purchase price, premium, or fees paid.
32. Rights granted to Bidders under the Terms of Conditions of Sale are personal and apply only to the Bidder who initially purchases the lot(s) from Superior. The rights may not be assigned or transferred to any other person or entity, whether by sale of the lot(s), operation of law or otherwise. Any attempt to assign or transfer any such rights shall be absolutely void and unenforceable. No third party may rely on any benefit or right conferred by these Terms and Conditions of Sale.
33. If the Bidder fails to comply with one or more of these Terms and Conditions of Sale, then, in addition to all other remedies which it may have at law or in equity, Superior may at its sole option, either (a) cancel the sale, retaining all payments made by Bidder as liquidated damages, it being recognized that actual damages may be speculative or difficult to compute, or (b) sell a portion or all of the lot(s) held by Superior, in a quantity sufficient in the opinion of Superior to satisfy the indebtedness, plus all accrued charges. More than one such sale may take place at the option of Superior. Notice of the sale shall be by U.S.P.S. Certified Mail, Return Receipt Requested to the address utilized on the Bid Sheet, Auction Consignment and Security Agreement or other last known address by Superior. Such sale will be at Superior's standard commission rates at public or private sale. The proceeds shall be applied first to the satisfaction of any damages occasioned by Bidder's breach, then to any other indebtedness owed to Superior, including without limitation, commissions, handling charges, the expenses of both sales, reasonable attorneys' fees, costs, collection agency fees and costs and any other costs or expenses incurred. Bidder is also liable to Superior if the proceeds of such sale or sales is insufficient to cover the indebtedness.
34. These Terms and Conditions of Sale and the auction shall be construed and enforced in accordance with, and governed by, the laws of the State of California, regardless of the location of the Auction Sale.
Bidder acknowledges and agrees that the competent courts of the State of California shall have exclusive jurisdiction over any dispute(s) arising hereunder, and Bidder hereby agrees that any dispute arising hereunder shall be litigated exclusively in the courts of the State of California, regardless of any party's current or future residence or domicile. Bidder further agrees that venue shall be in the Superior Court for Los Angeles County, in the State of California.
35. If any section of these Terms and Conditions of Sale or any term or provision of any section is held to be invalid, void, or unenforceable by any court of competent jurisdiction, the remaining sections or terms and provisions of a section shall continue in full force and effect without being impaired or invalidated in any way.