Rare Gold Coins Drive More Than $13 Million on February 3
Stack’s Bowers Galleries’ Part II offering of the James A. Stack, Sr. Collection, conducted on February 3, 2026, delivered emphatic results that underscored sustained demand for elite numismatic rarities. Despite a recent downturn in both precious metal prices and broader economic sentiment, bidders pursued top-tier gold coins aggressively. The session alone realized more than $13 million, contributing to over $28 million achieved across the December 2025 and February 2026 offerings of the storied collection.
Formed more than 75 years ago and withheld from the market for decades, the James A. Stack, Sr. Collection continues to command attention whenever its coins appear at auction. Federal gold issues, along with exceptional private and territorial gold coins, exceeded expectations throughout the February sale. Several results established new auction records.
1798 Small Eagle Half Eagle Anchors the Sale at $2.82 Million
The highest price realized in the auction was $2,820,000, achieved by the second-finest-known 1798 Small Eagle $5. Widely regarded as one of the most important rarities in the half eagle series, the issue is believed to survive in just seven examples, with only five available to private collectors.
The James A. Stack, Sr. specimen, graded AU-53 by PCGS, is the only CAC-approved example known. Its provenance is equally notable. Acquired for $3,100 in B. Max Mehl’s 1946 William Cutler Atwater sale, the coin generated an annualized return of 8.93% over nearly eight decades. Earlier, the same coin made headlines in Henry Chapman’s 1912 sale of the George H. Earle, Jr. Collection, where it realized $3,000, then the highest price ever paid for a coin.
Indian Head Eagles Deliver Record Results
Strong bidding also defined the Indian Head $10 segment, led by James A. Stack, Sr.’s 1911-D Indian eagle, graded MS-66 (PCGS) CAC, CMQ. The coin sold for $1.8 million, establishing a new auction record for any circulation-strike Indian $10.
Additional highlights reinforced the depth of demand for high-grade examples. The 1907 Rounded Rim, Period $10, graded MS-67 (PCGS) CAC, CMQ, realized $900,000, while a 1933 $10 in MS-66 (PCGS) brought $960,000.
Territorial and Private Gold Coins Exceed Expectations
The February 3 auction also featured standout examples from James A. Stack, Sr.’s private and territorial gold collection, portions of which were previously dispersed in Stack’s sales between 1990 and 1995. The group offered in 2026 ranked among the finest ever assembled.
The legendary 1850 Baldwin “Horseman” or “Vaquero” $10, graded MS-61 (PCGS) CMQ, realized $840,000. Only one example has sold for more: a PCGS MS-63+ specimen that brought a higher price in Stack’s Bowers Galleries’ November 2024 sale.
Several additional records followed. The Templeton Reid $2.50, graded AU-58 (PCGS) CAC, achieved $504,000, setting a new world record for the issue. The 1849 Miners’ Bank $10, graded MS-62 (PCGS) CAC, CMQ, sold for $432,000, narrowly missing a doubling of the prior record of $264,000 set in January 2022.
The 1851 Baldwin $10 in AU-58 (PCGS) CMQ realized $240,000, surpassing the previous record of $172,500 established in 2007. Meanwhile, a choice EF-45 (PCGS) CAC, CMQ Oregon $5 brought a strong $156,000.
Federal Gold Coins Post Remarkable Comparisons
Among Federal issues, a standout result came from the 1827 quarter eagle, graded MS-62+ (PCGS) CAC, CMQ, which sold for $138,000. That figure approached the price paid for the finest known MS-65 (PCGS) Bareford-Pogue example, which realized a similar sum in 2015.
At the time of sale, the PCGS Price Guide listed an MS-62+ example at $77,500, while the CAC Price Guide stood $10,500 lower. For context, Stack’s Bowers Galleries sold a PCGS MS-64+ example for $144,000 in 2024.
Other notable Federal gold highlights included an 1854-S $2.50 graded VG Details (PCGS) at $114,000, an 1879 Flowing Hair $4 Stella in Proof-65 (PCGS) CAC, CMQ at $228,000, and the exceptional 1828/7 $5 graded MS-64+ (PCGS) CAC, CMQ-X, which brought $630,000. A Proof-69 DCAM (PCGS) 1899 $5 realized $228,000.
Provenance Emerges as a Value Multiplier
According to John Kraljevich, Director of Numismatic Americana at Stack’s Bowers Galleries and cataloger of the private gold coins, the sale reinforced a consistent market truth.
“We saw that eye appeal paired with a value-adding provenance sets records,” Kraljevich said.
He pointed to cases where coins of similar quality realized different prices due to documented ownership history. In one instance, a Norris, Gregg, and Norris $5 in AU-50+ sold for $10,000 more than a technically finer AU-58 example. The premium reflected the former’s ownership by pioneer minter John Glover Kellogg, with its last auction appearance dating to 1916.
A similar dynamic played out with an 1849 Moffat $5, graded MS-63 (PCGS) CAC, CMQ, also once owned by Kellogg. That coin realized $114,000, a multiple of the PCGS Price Guide value for the grade.
A Collection Decades in the Making
James A. Stack, Sr. (1887–1951), a New York textile executive with no relation to the Stack’s Rare Coins family, assembled his collection with a discerning eye for quality and rarity. In instructions left at his death, he specified that the coins could not be sold until decades later. Since 1975, offerings from the collection have appeared periodically in Stack’s sales, each becoming a benchmark event for the numismatic community.
Results and Consignment Information
Complete results from the Stack’s Bowers Galleries February 2026 Showcase Auction are available at StacksBowers.com. Collectors seeking additional information about the James A. Stack, Sr. Collection, or interested in consigning to an upcoming auction, may contact the firm at 800-458-4646 or via email at [email protected]
Amazing coins I am actually surprised that went for so low because of their rarity
Just WOW!
All that glitters is gold.
Mr. Stack certainly made some good choices
Good to see folks buying rare coins!