Millon & Associés, F-Paris31. May 2011
PCGS Coins Smash Pre-Sale Estimates at Millon & Associés Auction in Paris
At the first European auction devoted primarily to PCGS-certified coins, the combined prices realized were remarkable 90.5 percent higher than the pre-sale estimates. The auction was conducted by the prominent French antiques and collectibles auction house Millon & Associés at gallery VV, Drouot in Paris on May 31, 2011.
The auction was conducted by the prominent French antiques and collectibles auction house Millon & Associés at gallery VV, Drouot in Paris on May 31, 2011. They will conduct another major auction of PCGS-certified coins in October.
"The exceptional prices realized by the PCGS coins appearing in the Millon & Associés auction in Paris is an overwhelming endorsement of the authentication and grading offered by PCGS. PCGS certification takes the guesswork out of valuing your coins," said Don Willis, President of PCGS, a division of Collectors Universe, Inc. (NASDAQ: CLCT).
The coins in the May 31 auction were consigned by collector Gaëtan Warin, and they were authenticated, graded and encapsulated by Professional Coin Grading Service (PCGS) at its European grading center in Paris. Auction highlights include:
1864-TBN 50 Liras.
• Italy 1864-TBN, 50 Lira, certified PCGS Genuine N92, was purchased by the winning bidder for Euro 101,200, over ten times more than its pre-sale estimate of Euro 10,000. (All prices realized include fees and taxes, and represent the full purchase prices paid by the winning bidders.)
1809-H Napoleon 20 Francs.
France 1809-H, Napoleon, 20 Francs, graded PCGS VF35, with a pre-sale estimate of Euro 2,000 sold for Euro 4,600; 130 percent over estimate.
• India 1841, Mohur, PCGS AU58, with a pre-sale estimate of Euro 1,000 sold for Euro 1,610; 61 percent over estimate.
• Russia 1767, 10 Roubles, PCGS AU58, pre-sale estimate Euro 2,300, sold for Euro 7,820; 340 percent over estimate.
• Norway 1910, 10 Krones, PCGS MS64, pre-sale estimate Euro 350, sold for Euro 943; almost 300 percent over estimate.
Alexandre Millon said: “Millon & Associés is very proud to announce the success of its numismatic auction of May 31st, 2011 where the overall results including PCGS coins was Euro 468,236. We attribute such success for the most part to our collaboration with PCGS which, thanks to its certification system, enables collectors and dealers to make reliable investments. Our auction house plans to renew this experience in the fall of 2011, and we are already starting to gather new coin collections for the upcoming auction.”