OTHER NEWS

A VERY SPECIAL auction will be held on April 18, 2005 at the Helmsley Park Lane Hotel in New York City.

Cuban Gold Peso collectors have an opportunity to obtain some of the most sought after gold proofs in existence. Needless to say, the prices will be very, very high.

American Numismatic Rarities, LLC, will be auctioning the following:

Lot 1712 – 1915 Cuban Proof set, c/o 1P NGC PR66, 2P NGC PR65, 4P NGC PR64,

                   5P NGC PR65, 10P NGC PR63, and 20P NGC PR64. $15,000 starting bid.  

                   The last recorded sale of a 1915 20P Proof was a Pittman sale of $11,500 in

                   1999. The Krause book value is about $30,000 for the set of six.

Lot 1713 – 1916 10P NGC PR62. $4500 starting bid, but may realize over $10,000

                   since it is extremely rare.

Lot 1714 – 1916 5P NGC PR65. $1500 starting bid. Considered Rare.

These rare proofs are part of the Louis E. Eliasberg Sr. collection, initially collected by John H. Clapp, who passed away in 1942. It is reported that Mr. Eliasberg purchased Mr. Clapp’s entire collection for $100,000 at an estate auction. These coins are a very small piece of the Clapp collection. Although they have been certified by NGC, they are not in the NGC slab. However, NGC guarantees the grade and will place any of the purchased coins in a NGC slab for $10 each.

Although these coins exceed the budget of the majority of Cuban coin collectors, it will be very interesting to track the prices (plus 15% commission) that they will command at the auction.

Further information of the auction can be obtained at www.anrcoins.com

CNA member Greg Robinson, Toronto, Canada, reports that a new series of Cuban convertible pesos, dated 2004, are in circulation. Convertible pesos are now required as payment in Cuban establishments operating in foreign exchange. The previous series, dated 1994, included raised Braille dots for the blind. The 2004 dots are present, but not raised. Is this progress?

Greg also reports that heightened airport security is attempting to curb “privately purchased” philatelic and numismatic items. On leaving Cuba, these items may be seized in the name of national “patrimony”.