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Piefort

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Journal Entries posted by Piefort

  1. Piefort
    The difficult task of searching for the highest grades
    When NGC awarded my "Gold Colon Coinage, 1897-1928, Circulation Issue" set as one of the Best World Sets for 2015, the judge's comments were that "The grades of this collection are outstanding". By the time of the award, 12 of my 15-coin set were either the highest solitary grade or tied to the highest grade. The difficult task was to work hard to be able to find those 3 missing coins to have a perfect set. One of those coins was an "20 colones 1899" MS 65 in which the NGC census only had one. By coincidence, I saw a friend with 2 spectacular specimens and convince him of sending them to NGC, one came back with the "MS 65" and he sold it to me.
    Last week, during the Heritage auction in Chicago, I was able to find the elusive "20 colones 1900" that has been the only coin ever graded as MS 64. I knew of its existence, since I had been an under bidder in a prior auction, but luck had it that 6 years later I would find this coin again in a public auction that would complete my 15-coin set as having all 15 coins as highest grade for each denomination and each year, including 4 different coins as MS 67. This set spans the years 1897-1928.
    This is a continuing endeavor, since more collectors are sending their coins to be graded and higher grades will keep coming out. Old collections are expected to be sold in the next years that have magnificent specimens that have never been graded. So, there are challenges ahead, that is the beauty of collecting. I do not know if a higher graded coin will come out next week, next month or 3 months from now, but it is just a matter of time. For the time being, I was able to accomplish the higher grades in all the coins of this set and will keep working to improve it.
    I am enclosing a picture of the last coin to be included in this set, the "20 Colones 1900 MS 64".
    Piefort
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=142146


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  2. Piefort
    The full pedigree of the Costa Rica 50 Centavos 1889
    The Long Beach Convention Auction Sale of August 8, 1975 (Paramount International Coin Corporation), sold the collection of the estate of a mintmaster that consisted of 492 specimens from around the world. This mintmaster is considered to have been the one of the Heaton Birmingham Mint in England. The proof specimens sold at this sale, looked like they had been put away the day they had been struck and this is exactly what happened. The catalogue of this sale confirmed this when it said that "The present owners are heirs to the estate of a mintmaster. In the 19th and early 20th centuries it was common practice for mints to strike proofs and specimen coins to exchange with the masters of other mints as samples of their work". Among these specimens was lot 107, "Costa Rica 50 Centavos 1889". This coin was never released for circulation and that offering was important because it documented for the first time the existence of this date.
    This specific coin (lot 107) was purchased for the Norweb Collection. The Honorable and Mrs. Henry Norweb, had a reputation that preceded them. They not only possessed one of the finest cabinets of United States and world coins ever assembled, but equally important, were true connoisseurs and studied and appreciated what they owned. After Mrs. Norweb died in March of 1984, the extensive collection of Latin American coins of the Norweb Collection was auctioned in May of 1985 (Christie's). Among this collection, was lot 522, which was the same "Costa Rica 50 Centavos 1889" from the Paramount sale.
    This specimen (lot 522) was later purchased for the collection of Mr. Frederick R. Mayer, who was widely known as a consummate collector of art, coins, currency and stamps. In each of these collecting disciplines he built collections that are truly remarkable, all considered world class by anyone's standards. After Mr. Mayer passed away in February of 2007, his collection was sold by Spink Smythe on October 23, 2008, in what has been known as the Greatest Collection of Costa Rican coins ever auctioned. One of the coins sold, was lot 1148 "Costa Rica 50 Centavos 1889" that was described as "An outstanding Gem proof with iridescent steel-blue toning and flawless surfaces (Ex Paramount and Ex Norweb)"
    This "Costa Rica 50 Centavos 1889" has its full pedigree accounted for since it was minted over 125 years ago. From its mint date in 1889 through 1975 it was with the estate of the Mintmaster of the Heaton Mint, where it sold in 1975 to the Norweb Collection. Then, during the Norweb auction in 1985, this coin was acquired by Mr. Frederick Mayer. When his collection was finally auctioned in October 2008, I had the privilege of acquiring it for my personal collection. This coin that has been graded SP 67 by NGC in its slab and has its pedigree as being part of both the Norweb and Mayer auctions.
    Piefort


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  3. Piefort
    Some success at this difficult art of improving grades
    Today I added a new MS 67 grade to my Costa Rican Cristobal Colon Gold Set. Even though my set has been completed for several years, I have worked hard to improve all the grades. Unfortunately, the coins of this set are not commonly slabbed and the high grades on auctions are scarce. So, I have had to practice the difficult art of slabbing doubles. Many times, I have purchased raw doubles, which I believe might, just might, improve the grades of my set. On several occasions, what I thought was a "GEM", turned out to be a disappointed lower grade or even graded as details. However, there are some happy days in which I do get improvements to these grades, like the MS 67 given to the "2 Colones 1928", whose picture I am enclosing.
    Just to have an idea of how scarce the slabbing of some of these coins are, for the "2 Colones" of 1915, 1922, 1926 and 1928, just over 50 coins have been slabbed according to the NGC World Coin Census. I believe that for the 4 years mentioned above, at least 10 of these coins have been slabbed by me, most of which I have had to sell after failing to improve grades. My Cristobal Colon Set has all the 4 coins that have been slabbed as MS 67 which belong to these 4 years and are the highest grades slabbed by NGC. Only one of this MS 67 was purchased, being the other 3, a successful result of the difficult art of slabbing doubles.
    This is my Costa Rican Cristobal Colon Set.
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=142146
    Piefort

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