Escalas Bowers and Merena Division Auctions $2.42 in Pennies for Nearly $1.1 Million

Total Prices Realized for Milwaukee Rarities Sale Tops $6.5 Million

Escala Group (ESCL.PK), a global collectibles company in stamps, coins, and art and antiques, today announced the aggregate sales results for its most recent auction conducted by Bowers and Merena Auctions of Irvine, California, part of Escala’s Spectrum Numismatics division. The Bowers and Merena Milwaukee Rarities Sale generated a total of $6,532,004 in winning bids during the two-session auction held on August 4.

At the center of the auction was the Dan Close “Close to Perfect” Collection. This set included one representative of each year and mintmark within the Lincoln cent series for 1909 to present, and was graded by Professional Coin Grading Service (PCGS, a division of Collectors Universe, NASDAQ: CLCT) as the best ever complete registry set for the category. Bidding was active on many of the key lots and when it was all done 242 pennies had sold for a total of nearly $1.1 million.

Highlights from the sale of the Dan Close Collection include Lot 63, a 1909 V.D.B. Lincoln Cent (bearing the initials of Victor David Brenner, the coin’s designer) graded Proof-65 Red (out of a possible grade of 70) by PCGS that sold for $46,000, and Lot 99, a 1917 Double Die Obverse Lincoln Cent in PCGS MS-66 Red that realized $48,300.

“There were so many amazing lots in this auction, true rarities, and it really was a thrill to present such a first-rate registry set as the Dan Close collection of Lincoln cents,” said Steve Deeds, Bowers and Merena President. “This sale generated a lot of excitement going in to the auction, and there was great energy and camaraderie on the auction floor – good, friendly competition among bidders.”

Another major event of the auction was the sale of Lot 1906, an 1854-O Liberty Twenty ($20 denomination gold coin) in PCGS About Uncirculated-55, which sold for $494,500. “This is one of the most coveted Liberty Double Eagles, due especially to its limited original production of just 3,250 pieces,” said Deeds, “yet we offered one of the finest examples known to the numismatic community, with only three known at PCGS in the AU-55 grade.” Deeds added that when representatives appear at public auction they bring tremendous prices, as evidenced by this offering which realized nearly a half-million dollars.

Still another important sale was Lot 480, a 1935 Double Die Reverse Buffalo Nickel in PCGS MS-65 that fetched $104,650.

Complete results of the Bowers and Merena August 2007 Milwaukee Rarities Sale are available at by individual lot, including full descriptions, estimates and photographs. A fully illustrated, color printed catalog was produced for the sale; copies are still available for sale upon request.

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 of North America; Corinphila Auktionen of Zurich, Switzerland and the Kohler auction house in Wiesbaden, Germany, in our European division; and John Bull Stamp Auctions, Ltd, the oldest philatelic auction house in Hong Kong, comprising our Asia division. Escala’s Group Companies in the 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.

About Bowers and Merena Auctions

Founded in 1953 and based in Irvine, California, Bowers and Merena Auctions has grown to become one of America’s leading rare coin auctioneers, providing coins to collectors, dealers and museums in all parts of the world. Its famous public sales include the $44.9 million Louis E. Eliasberg Sr. Collection and the Harry W. Bass Jr. Collection which has realized more than $38 million. The company also handled the $25 million Garrett Collection for The Johns Hopkins University, and the $20 million Norweb Collection. In addition, Bowers and Merena holds three of the top seven world record auction prices for U.S. coins. The company’s reference books and catalogues have received more “Publication of the Year” awards and other honors than have those of any other firm. Over the years, The Guinness Book of World Records has devoted more space to the records held by Bowers and Merena Auctions than to all of our competitors combined.


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