Russian Coin sells for 2.64M @ Stacks/Bowers

Discussion in 'World Coins' started by William F, Apr 8, 2021 at 3:35 PM.

  1. William F

    William F Odd Member

    NGC-graded Russian Coin Realizes an Astounding $2.64 Million, Quadruple Its Pre-Auction Estimate
    Posted on 4/7/2021

    With this Stack’s Bowers auction result, six NGC-certified coins have sold for over $1 million this year.

    An incredibly rare Russian pattern coin certified by Numismatic Guaranty Corporation® (NGC®) dazzled the coin collecting world by realizing $2.64 million at a Stack’s Bowers auction on Tuesday. It quadrupled its pre-auction estimate of $400,000 to $600,000 and set the record for most expensive world coin sold in a Stack's Bowers auction.

    The Russia 1825 Constantine – Plain Edge Rouble graded NGC PF 62 proved itself to be the apex of the Pinnacle Collection, which was offered in a 162-lot auction in Hong Kong on April 6, 2021. It shows the bust of a would-be emperor, Constantine, who was expected to become emperor after his brother’s death in 1825 but refused to take the throne.



    [​IMG] [​IMG]
    Russia 1825 Rouble graded NGC PF 62 and pedigreed to Joseph, Richter and the Pinnacle Collection. Realized: $2.64 million.
    Click images to enlarge.


    It becomes the sixth NGC-certified coin to realize a price of over $1 million so far in 2021. The impressive result occurred less than two weeks after an NGC-certified Great Britain 1937 Gold Pattern Edward VIII 5 Sovereign realized $2.28 million, which set a new record price for a British coin. Like Constantine’s, the coinage of Edward VIII exists only in a handful of patterns because the British king also walked away from immense power, in his case to marry an American.

    “These sales demonstrate the trust that collectors have in the power of NGC’s expert certification services,” said Ben Wengel, NGC Senior Grading Finalizer of World Coins. “Whether it’s a British rarity being offered at an American auction or a Russian coin offered at a sale in China, in both cases, NGC certification gave bidders from around the world the confidence to lift these numismatic treasures to new heights.”

    Only eight of the Constantine Rouble Patterns are known, including three that are held by museums in Russia and the United States. Adding to its prestige, the example that just sold is one of only three with a plain edge, and NGC has pedigreed it to the collections of L.K. Joseph and F.F. von Richter.

    “This is one of the most elusive and desirable coins in Russian numismatics,” commented Matt Orsini, Stack's Bowers Director of World & Ancient Numismatics. “We are thrilled that the NGC-certified rarity set a record for the most expensive world coin ever sold in a Stack's Bowers auction and by an American auction house.”

    A second NGC-certified Russian rarity in the sale also impressed. A Russia 1771 Pattern Rouble graded NGC MS 65 realized $156,000, passing its pre-auction estimate of $60,000 to $90,000.
     
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  3. William F

    William F Odd Member

    This is ridiculous, I just... don't understand lol
     
  4. medoraman

    medoraman Supporter! Supporter

    Price of all sorts of assets, like stocks, bitcoins, houses, etc are soaring due to loose money around the world. Money is not worth much in terms of interest, there is too much floating around, so it will bid up assets.
     
  5. J.T. Parker

    J.T. Parker Well-Known Member

    Oligarchs gotta spend all that money somewhere!
    J.T.
     
    William F likes this.
  6. tibor

    tibor Well-Known Member

    A lot newly ultra rich Russians have emerged over the past 2 decades.
    They are repatriating their countries treasures. Same with China.
     
    Gallienus and William F like this.
  7. princeofwaldo

    princeofwaldo Grateful To Be eX-I/T!

  8. Silverpop

    Silverpop Well-Known Member

    people with cash to burn will buy anything they think will become a status symbol in their circle of friends and to show off their wealth
     
  9. mrbadexample

    mrbadexample Well-Known Member

    Who wrote this article? It reads like an advert for NGC - mentioned 14 times. :rolleyes:

    I'd have broken it out of the slab anyway. :happy:
     
    CoinJockey73 likes this.
  10. princeofwaldo

    princeofwaldo Grateful To Be eX-I/T!

    Why stop at breaking it out? Need to head to St. Petersburg and spend it in the subway! It's a neat coin, but there's dozens of other Russian coins I would rather own first. Can you imagine what a collection of Tsar Paul I coinage one could assemble for the same dollars? And in high grade those issues are nearly as rare as this pattern.
     
  11. jaytant

    jaytant Member

    NGC did write it :) It’s from one of their press releases.
     
  12. mrbadexample

    mrbadexample Well-Known Member

    Figures.
     
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