Pennypacker Sale of Holland Large Cent Collection

Currency:USD Category:Coins & Paper Money Start Price:100.00 USD Estimated At:150.00 - 150.00 USD
Pennypacker Sale of Holland Large Cent Collection
130.00USDto floor+ buyer's premium + applicable fees & taxes.
This item SOLD at 2015 Nov 07 @ 14:01UTC-5 : EST/CDT
A buyer’s premium of 17.5% will be added to the cost of all lots purchased. See shipping info and full terms.
Pennypacker Auction Centre. STAMPS - COINS - BOOKS. PUBLIC AND MAIL BID. THE FAMOUS LEONARD M. HOLLAND LARGE COPPER CENT COLLECTION. MOSTLY IN UNCIRCULATED CONDITION 1793 TO 1857, FEATURING MANY FINEST KNOWN VARIETIES. Reading, Pa.: Kenhorst, May 8-9, 1959. Catalogued by Mason-Dixon Coin Exchange (Thomas Warfield). 8vo, self-covered. 16 pages; (103) lots of large cents; 261 lots of other coins; (11) lots of stamps; 200 lots of books; 10 halftone illustrations of large cents. Fine. The Pennypacker sale was a remarkable event, offering a fine collection of large cents assembled in the late 1940s and 1950s, mostly acquired from Leonard Holland’s good friend Thomas Elder. Holland pledged the collection as collateral for a construction project loan in the late 1950s. He encountered unforeseen difficulties and the bank foreclosed the loan, choosing an obscure country auctioneer to liquidate the collection. Distribution of the catalogue was limited and the coins generally sold for low prices. Some of the important collectors of the day did not learn of the sale and several of the attendees funneled their bids through a single agent. After the sale, it is reported that the coins were again auctioned within the group in a hotel room. Sometimes, the differences were dramatic, with coins subsequently bringing double or triple the original hammer price.