Top News - Florida coin auction could net $50 million

[Arizona Coin Collector]

FROM:
http://www.upi.com/Top_News/2009/01/05/Florida_coin_auction_could_net_50_million/UPI-50641231179843/

UPI.com

Top News - Florida coin auction could net $50 million

Published: Jan. 5, 2009 at 1:24 PM

ORLANDO, Fla., Jan. 5 (UPI) -- An auction in Orlando, Fla., that
will include the sale of five U.S. coins minted in 1915 should
result in at least $50 million in sales, the auctioneer says.

Heritage Auction Galleries President Gregory J. Rohan said the
upcoming auction will include five gold and silver. coins once
owned by Egyptian King Farouk.

"If coins could talk, this widely traveled set would have quite
the story to tell. They were part of the famous coin collection
of King Farouk that the Egyptian government sold at the palace
in Cairo in 1954 after he was exiled," Rohan said in a Heritage
release.

The coin set, up for bid in an auction Thursday, was first sold
for $200 in 1915. It could be sold this week for more than
$150,000. The set, along with other rare coins and paper money
up for auction, could result in $50 million in sales during the
five-day public event.

"The five coins have a combined face value of $104 and were made
at the San Francisco Mint to commemorate the 1915 Panama-Pacific
International Exposition (Pan-Pac) held in that city that year,"
Rohan said.

..

[Lorrie S.]

these auction houses are just making up ultra high "total sales realized"
dollar amounts in order to make collectors think the market is still strong
and trick idiots into making foolishly high bids.

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