SOLD
13,000.00USD+ (2,535.00) buyer's premium + applicable fees & taxes.
This item SOLD at 2014 Jan 18 @ 13:02UTC-8 : PST/AKDT
Did you win this lot?
A full invoice should be emailed to the winner by the auctioneer within a day or two.
Pre-sale bidding is available on our website, www.stevealbum.com, and is also available via email. You can find bidding instructions here: http://db.stevealbum.com/php/how-to-bid.php
We reserve the right to adjust the opening bid levels higher (or lower) than they are currently set. If you have any questions, please contact us.
All session and break times are estimated and are subject to fluctuation. Please plan accordingly.
BIAFRA: AR one crown (28.66g), 1969, KM-5, bust of Chukwuemeka Odumegwu Ojukwu, chief of staff during Biafra's brief independence 1967-1970 / coconut palm tree, NGC graded AU58, RRR.
Little is known about this seldom encountered commemorative, probably intended for two years of independence, and inscribed "independence and liberty". No specimen has appeared at auction or for sale in recent years, to the best of our recollection. It is listed as "rare" by Krause, valued €1000 by Schon (Welt Münzkatalog, 20. Jahrhundert, 2008 edition). It has been suggested that it was produced by an Italian operation known as Istituto Numismatico Europeo, but there is no evidence to confirm this assumption. There is no mintmark on the coin -- the alleged letters beneath the trunk of the palm tree are quite illegible and more likely just the tops of the tree roots. In any case, the style & arrangement are totally different from any of the other issues struck for Biafra during its ephemeral existence.
Auction Location:
P.O. Box 7386, Santa Rosa, California, 95407, United States
Previewing Details:
Lot viewing for single lots (not group lots) will be available at the NYINC Coin Show on January 9-12, 2014. Our table number is S-5.
Lots may also be viewed in our office in Santa Rosa, California (by appointment only), subject to our scheduling availability.
California sales tax of 8.75% will apply to all deliveries inside California which total under $1,500 unless a valid resale card is on file before lots are shipped.
Taxes:
| Tax | Rate | Desc. |
| CA |
8.75% |
California Sales Tax |
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
19.5% |
Additional Fees:
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who pick up at this Auction or shipments to Buyers in California
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portion or all of the lots held by Stephen Album Rare Coins Inc., in
a commercially reasonable manner, which may include a public or
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Album Rare Coins Inc. to satisfy the indebtedness, plus all accrued
charges, and Stephen Album Rare Coins Inc. may charge a seller’s
commission that is commercially reasonable. More than one such
sale may take place at the option of Stephen Album Rare Coins
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reasonable cost of such sale, together with any incidental costs of
sale, including reasonable attorney's fees and costs, cataloguing
and any other reasonable charges. Notice of the sale shall be by
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utilized on the Bid Sheet, Auction Consignment and Security
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any damages occasioned by Buyer's breach, then to any other
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without limitation, commissions, handling charges, carrying
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Rare Coins Inc. for any deficiency if the proceeds of such sale or
sales are insufficient to cover such amounts.
Buyer grants to Stephen Album Rare Coins Inc., or assignees, the
right to offset any sums due, or fund to be due to Stephen Album
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future consignment, or purchases that are in the possession or
control of the Auctioneer or from any sums due to Buyer by
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addition, defaulting Buyers will be deemed to have granted to
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in: (x) the purchased lots and their proceeds, and (y) such sums or
other items and their proceeds, in the possession of Stephen
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indebtedness due to Stephen Album Rare Coins Inc., plus all
accrued expenses, carrying charges, attorney fees, and costs, until
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Coins Inc. the right to file a UCC-1 financing statement for such
items, and to assign such interest to any affiliated or related
company or any third party deemed appropriate by Stephen
Album Rare Coins Inc. If the auction invoice is not paid for in full
by the Default Date, a carrying charge of one percent (1%) per
month may be imposed on the unpaid amount until it is paid in
full. In the event this interest rate exceeds the interest permitted
by law, the same shall be adjusted to the maximum rate
permitted by law, and any amount paid in excess thereof shall be
allocated to principal. Buyer agrees to pay all reasonable
attorney's fees, court costs and other collection costs incurred by
Stephen Album Rare Coins Inc. or any affiliated or related
company to collect past due invoices or to interpret or enforce
the terms hereof or in any action or proceeding arising out of or
related to the Auction. Stephen Album Rare Coins Inc. reserves
the right to assign its interest to any third party. To the extent
that the Buyer for any lot consists of more than one person or
entity, each such person or entity is jointly and severally liable for
all obligations of the Buyer, regardless of the title or capacity of
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the rights of a secured party under the California Uniform
Commercial Code and all rights of the consignor to collect
amounts due from the Buyer, whether at law or equity.
(8) Disclaimer and Warranties.
a) Coins listed in this catalog graded by PCGS, NGC or ANACS
cachet or any other third party grading service or examined
by the buyer prior to the auction sale may not be returned
for any reason whatsoever by any Buyer, except for claims
related to authenticity.
b) For non-certified coins that have not been examined by the
Buyer prior to the Auction: if it is determined in a review by
the Auctioneer that there is a material error in the catalog
description of a non-certified coin or the coin is not
authentic, such lot may be returned, provided written notice
is received by the Auctioneer no later than seventy-two (72)
hours of delivery of the lots in question, and such lots are
returned and received by Stephen Album Rare Coins Inc., in
their original, containers, no later than fourteen (14)
calendar days after delivery, in the same condition the lot(s)
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c) If an item or items are returned pursuant to the terms
herein, they must be housed in their original container. Late
remittance or removal of any item from its original
container, or altering a coin constitutes just cause for
revocation of all return privileges.
d) Grading or condition of rare coins may have a material effect
on the value of the item(s) purchased, and the opinion of
others (including independent grading services) may differ
with the independent grading services opinion or
interpretation of the Auctioneer. Auctioneer shall not be
bound by any prior, or subsequent opinion, determination
or certification by any independent grading service.
e) All oral and written statements made by Stephen Album
Rare Coins Inc. and its employees (including affiliated and
related companies) are statements of opinion only, and are
not warranties or representations of any kind, unless stated
as a specific written warranty, and no employee or agent of
Stephen Album Rare Coins Inc. has authority to vary or alter
these Terms and Conditions of Auction. Any alteration shall
be effective only if in writing and signed by an officer of
Stephen Album Rare Coins Inc. authorized to do so. Stephen
Album Rare Coins Inc. reserves the right to vary or alter the
Terms of Sale, either generally or with respect to specific
persons or circumstances, in its sole discretion. Any variation
or alteration shall be effective only if in writing and signed
by an officer of Stephen Album Rare Coins Inc. authorized to
do so.
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reason whatsoever.
g) Bidder acknowledges that the coin market is speculative,
unregulated and volatile, and that coin prices may rise or fall
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purposes will be able to sell for a profit in the future.
h) Bidder acknowledges and agrees that neither Stephen
Album Rare Coins Inc., nor its employees, affiliates, agents,
third-party providers or consignors warrant that auctions
will be unimpaired, uninterrupted or error free and
accordingly shall not be held liable for such events.
(9) Waiver and Release. Bidder, for himself, his heirs, agents,
successors and assignees, generally and specifically waives and
releases, and forever discharges Stephen Album Rare Coins Inc.,
and its respective affiliates, parents, shareholders, agents,
subsidiaries, employees, members of their respective boards of
directors, and each of them, and their respective successors and
assignees from any and all claims, rights, demands and causes of
actions and suits, of whatever kind or nature, including but not
limited to claims based upon Auctioneer’s negligence, whether in
law or equity, whether known or unknown, suspected or
unsuspected (a "Claim"), which Bidder may assert with respect to
and/or arising out of, or in connection with any challenge to the
title to or authenticity of any goods purchased, the sale itself, any
lot bid upon or consigned, and/or the auction, except where such
Claim is otherwise expressly authorized in these Terms of Sale. It
is the intention of Bidder that this waiver and release shall be
effective as a bar to each and every Claim that may arise
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knowingly and voluntarily waives any and all rights and benefits
otherwise conferred upon him by the provisions of Section 1542
of the California Civil Code, which reads in full as follows:
"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE
CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER
FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF
KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS
OR HER SETTLEMENT WITH THE DEBTOR."
(10) Disputes. If a dispute arises concerning ownership of a lot or
concerning proceeds of any sale, Stephen Album Rare Coins Inc.
reserves the right to commence a statutory inter-pleader
proceeding at the expense of the Consignor and Buyer and any
other applicable party, and in such event shall be entitled to its
reasonable attorneys' fees and costs. Stephen Album Rare Coins
Inc. reserves the right to cancel or postpone the Auction or any
session thereof for any reason whatsoever. No Bidder shall have
any claim as a result thereof, including for incidental or
consequential damages. Neither Stephen Album Rare Coins Inc.
nor any affiliated or related company shall be responsible for
incidental or consequential damages arising out of any failure of
the Terms of Sale, the auction or the conduct thereof and in no
event shall such liability exceed the purchase price, premium, or
fees paid. Rights granted to Bidders under the within Terms and
Conditions of Auction are personal and apply only to the Bidder
who initially purchases the lot(s) from Stephen Album Rare Coins
Inc.. The rights may not be assigned or transferred to any other
person or entity, whether by sale of the lot(s), operation of law or
otherwise. Any attempt to assign or transfer any such rights shall
be absolutely void and unenforceable. No third party may rely on
any benefit or right conferred by these Terms and Conditions of
Auction.
(11) General Terms. These Terms and Conditions of Auction and
the auction shall be construed and enforced in accordance with,
and governed by, the laws of the State of California, regardless of
the location of the Auction. Any dispute arising out of or related
to these Terms of Sale, the Auction or any lot, with the sole
exception of actions by Stephen Album Rare Coins Inc. to collect
amounts owed to it and other damages, shall be submitted to
binding arbitration pursuant to the rules of the International
Association of Professional Numismatists (I.A.P.N.). Bidder
acknowledges and agrees that the competent courts of the State
of California shall have exclusive jurisdiction, subject to the
requirement to arbitrate, over any dispute(s) arising hereunder,
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Bidder further agrees that venue of the arbitration proceeding
shall be in Sonoma County, California; and any court proceeding
shall be in the Sonoma County Superior Court, in the State of
California. Bidder agrees that any arbitration or legal action with
respect to this Auction is barred unless commenced within one (1)
year of the date of this Auction. These Terms of Sale and the
information on our website constitute the entire agreement
between the parties hereto on the subject matter hereof and
supersede all other agreements, understandings, warranties and
representations concerning the subject matter hereof. If any
section of these Terms of Auction or any term or provision of any
section is held to be invalid, void, or unenforceable by any court
of competent jurisdiction, the remaining sections or terms and
provisions of a section shall continue in full force and effect
without being impaired or invalidated in any way. Stephen Album
Rare Coins Inc. may at its sole and absolute discretion, make loans
or advances to Consignors and/or Bidders.
(12) Special Services. If you wish to limit your total expenditures,
please fill in the maximum amount you wish to spend on your bid
sheet. This is a personal service and a Stephen Album Rare Coins
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in your behalf, due to the speed of the auction sale and the
sometimes crowded conditions, we cannot be responsible for
failure to execute such a bid properly.
We invite you to take advantage of the optional 10% to 30%
increase to help your chance of being a successful bidder. Check
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Stephen Album Rare Coins Inc. auctions are not approval sales.
Bidding in this auction sale constitutes unconditional acceptance
by the Bidder of the foregoing terms of sale.