Bowers and Merenas Baltimore Auction Realizes More Than $9.4 Million

. November 29, 2007

AuctionPublicity.com – Escala Group, Inc. (ESCL.PK) Bowers and Merena Auctions, America’s leading rare coin auction house, was once again the Official Auctioneer of the Baltimore Coin and Currency Convention held on November 14 to 17, 2007, at the Baltimore Convention Center. Offering more than 3,000 coin lots and over 1,000 currency lots, the auction was the largest ever by number of lots for Bowers and Merena and realized a total of $9,465,252, Bowers and Merena’s highest sales record for a Baltimore auction in years. This was Bowers and Merenas third official Baltimore auction for 2007; the March and June Baltimore auctions together realized more than $11.5 million. Bowers and Merena will continue to serve as Official Auctioneer of the Baltimore Coin and Currency Convention in 2008, with the next auction scheduled for February 27 to March 2, 2008.

“I can hardly find words to say how happy we are with the outcome of this auction,” said Steve Deeds, President of Bowers and Merena. “We offered more lots than in any of our previous auctions, each of the four sessions was filled with very active bidding, and we were able to offer some truly amazing coins and currency. It was by far our best Baltimore showing and I am really looking forward to what the 2008 Baltimore auctions will bring. We also especially want to acknowledge and thank Mary Counts, David Crenshaw and the entire Whitman team for their support and production of a first-class convention where Bowers and Merena is proud to be the official auctioneer.”

The crown jewel of this Baltimore auction was Lot 4668, an 1854-O Liberty Double Eagle graded AU-50 by PCGS that realized $368,000. “It is always an honor to auction a coin that is as truly exceptional as this one. A coin of this magnitude does not come around very often, and I am proud to say this is the second example of this rare coin that Bowers and Merena has sold this year,” remarked Deeds. At the Milwaukee Rarities Sale in August, Bowers and Merena auctioned an 1854-O Liberty Double Eagle graded AU-55 by PCGS that realized $494,500.

Another spectacular lot that sold in Baltimore was Lot 683, a 1916 Buffalo Nickel Doubled Die Obverse in PCGS MS-64 that realized $316,250. It is tied with one other MS-64 as the finest of only five Mint State 1916 Doubled Die Obverse Nickels listed on the PCGS Population Report. “This coin possesses uncommonly sharp striking definition, beautiful peripheral toning and the strongest technical quality and eye appeal that we have ever seen in an example of this extremely rare 20th century U.S. Mint error,” Deeds said.

Also among the extensive list of highlights for this auction was Lot 4500, an 1879 Flowing Hair Four-Dollar Gold Stella, Judd-1635, Pollock-1833, Rarity-3 in PCGS Proof-64 DCAM that realized $184,000, along with the noteworthy sale of two complete 1915-S Panama-Pacific Exposition Sets, Lot 4358 with original frame that realized $224,250 and Lot 4351 with original box that realized $187,450.

Impressive currency highlights include Lot 6072, an extremely rare Uncut Sheet of Four Kimball, WV, $5 1902 Plain Back, Fr. 606, The FNB, Charter #(S)11502, Very Fine that realized $16,675, and Lot 5741, an Original Pack of Fr. 1930-B, 2003A $1 Federal Reserve Note Errors, Mismatched Serial Numbers that realized $50,370.

Prices realized for all lots in the Bowers and Merena Official Auction of the Baltimore Coin and Currency Convention can be viewed online at www.bowersandmerena.com, or call 800.458.4646 to request a printed list.

Additional Coin Highlights

Lot 607
1867 Shield Nickel. Rays. Proof-65 (PCGS).
$75,900

Lot 684
1916 Buffalo Nickel. DDO. AU-58 (NGC).
$42,550

Lot 718
1926-D Buffalo Nickel. MS-67 (NGC).
$62,100

Lot 4010
1863 Pattern Cent. Judd-302. Pollock-365. Rarity-7. Proof-65 (PCGS).
$48,300

Lot 4157
1851 Augustus Humbert. $50 Gold. K-6. Rarity-4. Reeded Edge. 887 THOUS. MS-62 (NGC).
$138,000

Lot 4392
1806/5 Capped Bust to Right Quarter Eagle. BD-2, HBCC-3015. Rarity-5+. Stars 7×6. MS-62 (NGC).
$110,400

Lot 4412
1848 Liberty Quarter Eagle. CAL. Above Eagle. AU-53 (NGC).
$55,200

Lot 4444
1911 Indian Quarter Eagle. Proof-68 (NGC).
$49,450

Lot 4645
1910-S Indian Eagle. MS-66 (NGC).
$82,800

Lot 4675
1861-S Liberty Double Eagle. Paquet Reverse. AU-50 (PCGS).
$83,950

Lot 4761
1900 Liberty Double Eagle. Proof-64 DCAM (PCGS).
$57,500

Lot 4770
1903 Liberty Double Eagle. Proof-65 Cameo (NGC).
$74,750

Lot 4832
1908-S Saint-Gaudens Double Eagle. MS-65 (PCGS).
$45,425

Lot 4845
1912 Saint-Gaudens Double Eagle. Proof-67 (NGC).
$87,400

Lot 4846
1913 Saint-Gaudens Double Eagle. Proof-66 (NGC).
$64,400

Additional Currency Highlights

Lot 5335
Fr. 310. 1880 $20 Silver Certificate. PMG About Uncirculated 50.
$28,750

Lot 5557
Fr. 1173a. 1922 $10 Gold Certificate. Mule. PMG Choice About Uncirculated 58.
$10,925

Lot 5756
Flagstaff, AZ. $10 1929 Ty. 1. The FNB. Charter #11120. Very Fine.
$19,550

Lot 5861
Boston, MA. $5 1902 Red Seal. Fr. 587. The Boylston NB. Charter #(N)545. Choice Crisp Uncirculated.
$18,975

Lot 6044
Uncut Sheet of Four. Jackson, TN. $10-$10-$10-$20 1882 Date Back. Fr. 642/552. The FNB. Charter #(S)2168. PMG About Uncirculated 55.
$20,700
Bowers and Merena’s next auction is the Orlando Rarities Sale held prior to the Orlando F.U.N. Show on January 8, 2008. That will be followed by the Bowers and Merena Collector’s Choice Auction, February 4 to 13, 2008, in Irvine, Calif., and the next Official Auction of the Baltimore Coin and Currency Convention, February 27 to March 2, 2008. The complete auction schedule with consignment deadlines is available at www.bowersandmerena.com.

For more information about Bowers and Merena and the Official Auction of the Baltimore Coin and Currency Convention in November, call 800.458.4646. For media inquiries, ask for President Steve Deeds. Complete prices realized for all past auctions are available at www.bowersandmerena.com.

ABOUT BOWERS AND MERENA

Bowers and Merena Auctions was founded in 1983 and has grown to become the world’s preeminent numismatic auctioneer with more than half a billion dollars in rare coin and currency sales. Bowers and Merena has handled four of the five most valuable United States coin collections ever sold, including the Louis E. Eliasberg Sr. Collection, the Harry W. Bass Jr. Collection, the Garrett Collection for The Johns Hopkins University, and the Norweb Collection.

ABOUT ESCALA GROUP, INC.

Escala Group is a consolidated global collectibles network. The Company is a leading auctioneer of stamps, coins, arms, armor and militaria, and other memorabilia, targeting both collectors and dealers. Escala is also a merchant/dealer of certain collectibles and trader of precious metals. The Company’s collectibles offerings span the modest to ultra high-end price spectrum. Escala conducts its operations in two business segments: collectibles and trading.

Escala’s Group companies focused on philately are H.R. Harmer and Nutmeg Stamp Sales, both in North America; Corinphila Auktionen of Zurich, Switzerland and the Kohler group of auction companies of Berlin and Wiesbaden, Germany from our European division; and John Bull Stamp Auctions, Ltd, the oldest philatelic auction house in Hong Kong in our Asia division. Escala’s Group companies in its numismatics division include Teletrade, Bowers and Merena Auctions, North American Certified Trading, and Spectrum Numismatics International, one of the largest wholesalers of rare coins in the U.S. Greg Martin Auctions is in the Company’s art and antiques division.

The trading activities of Escala Group are conducted through A-Mark Precious Metals, one of the largest private sellers of bullion coins and bullion gold, silver and platinum to the wholesale marketplace.

SAFE HARBOR STATEMENT

Statements in this press release that relate to future plans, objectives, expectations, performance, events and the like are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these statements. Factors that may cause such differences include changes in market conditions, changes in economic environment, competitive factors and the other factors discussed in the “forward-looking information” or “risk factors” sections included in Escala Group’s filings with the Securities and Exchange Commission, including Escala Group’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, prospectuses and other documents that Escala Group has filed with the Commission. In particular, any statement related to Escala Group’s expected revenues or earnings or Escala Group’s being well positioned for future profitability and growth are forward-looking statements.

The words “should,” “believe,” “estimate,” “expect,” “intend,” “anticipate,” “foresee,” “plan” and similar expressions and variations thereof identify certain of such forward- looking statements, which speak only as of the dates on which they were made. Additionally, any statements related to future improved performance and estimates of revenues and earnings per share are forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.

Category: Auction News

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