Superior Galleries Realizes Record Prices in February 5-7, 2006, Beverly Hills Auction.

BEVERLY HILLS, Calif. -- Superior Galleries, Inc. ("Superior") (OTCBB:SPGR) announced today the results of its February 5-7, 2006, Pre-Long Beach Beverly Hills Auction. Anchored by many private collections, including the superlative Allan Mandelstamm Collection, prices realized from this successful auction were $5,115,942, inclusive of the buyer's premium, which was in excess of the pre-sale estimate for the entire sale. The Auction, the inaugural one to be held in Superior Galleries' newly renovated, state-of-the-art auction room and retail galleries in Beverly Hills, held just prior to the 2006 February Long Beach Coin Expo, was a stunning success, with almost 80% sold by lot and dollar.

The unquestioned highlight of session 1 was lot 21, a 1792 Silver Half Disme PCGS AU50 from the Mandelstamm Collection, which soared to $126,500 amid fierce bidding, thereby setting the tone for the entire session. Among copper offerings, lot 103 was notable. The Mandelstamm 1793 S-9 PCGS AU53 Large Cent was hammered down for $23,000 to a private collector. Other notable copper highlights included:

Lot 133, a 1797 S-135 PCGS MS64, sold for $21,562.
Lot 182, an 1809 S-280 PCGS MS62, sold for $17,250.

Small cents through Half Dollars anchored sessions 2 and 3, with numerous notable prices throughout, with many of the highlight coins from the Mandelstamm Collection:

Lot 459, an 1855 NGC PF66 Dime, sold for $17,825.
Lot 466, a 1798 98 over 97 PCGS MS63 Dime, sold for $26,450.
Lot 470, an 1835 PCGS PF64 Dime, sold for $16,675.

Perhaps the most astonishing price, though, in this session was lot 485, a 1929-S PCGS MS66FB Mercury Dime from the Dr. Arnold Bruhn Collection. This lot surpassed its pre-sale estimate and was hammered down for $12,650 to a stunned audience. Lot 497, a 1938 PCGS PR68 Mercury Dime, also ex. Bruhn, sold for $9,200.

Other type coins highlights from the Mandelstamm Collection:

Lot 537, an 1832 NGC MS66 Quarter, sold for $19,550.
Lot 551, a 1913-S PCGS MS64 Quarter, sold for $18,400.
Lot 681, a 1797 PCGS VF30 Half Dollar, ex. Mandelstamm, realized
$75,900.

In the commemorative coin section, there were several standouts:

Lot 1138, a 1922 Grant Star NGC MS67 Half Dollar, sold for $36,800.
Lot 1207 was even more astonishing. A 1900 PCGS MS67 Lafayette Dollar,
deeply and originally toned from the Mandelstamm Collection, sold to a
collector at $66,700.
Lot 1221, a 1776 Continental Currency Dollar, PCGS MS63, quickly
doubled its pre-sale estimate and was sold for $143,750, one of the
highest prices of the evening. Other dollar highlights include lot
1229, a 1798 BB-104 ANACS MS61 Dollar, which brought $21,850; lot
1249, an 1858 PCGS PF64 Dollar, sold for $29,325; lot 1260, an 1865
NGC MS65 Dollar, sold for 25,300; lot 1271, an 1881 PCGS PF67 Trade
Dollar, sold for $39,100. Lot 1268, an 1870-CC NGC MS64 Dollar, the
finest known example graded by NGC, sold for a tremendous premium to a
collector at the price of $98,900.

Session 4 primarily consisted of Morgan Dollars, and among these the most notable prices were:

Lot 1466, an 1884-S NGC MS64 Morgan Dollar, sold for $62,100.
Lot 1534, an 1889-CC PCGS MS63 Morgan Dollar, sold for $36,800.
Lot 1577, an 1894 ANACS MS65 Morgan Dollar, sold for $27,600.
Lot 1589, an 1895 NGC PF67 UCAM Morgan Dollar, sold for $80,500.
Lot 1590, an 1895-O NGC MS64 Morgan Dollar, sold for $50,600.
Lot 1604, an 1896-O PCGS MS64 Morgan Dollar, sold for $36,800.
Lot 1607, an 1897-O PCGS MS65 Morgan Dollar, sold for $48,875.

Saving the best for last, the evening session 5 began with pattern coinage and ended with territorial gold coins. The Mandelstamm Gobrecht Dollars from 1836, 1838, and 1839, lots 1732 through 1734, brought $55,200, $57,500, and $54,050, respectively. The Mandelstamm Proof sets were arguably the highlights of the entire auction. These included:

The 1857 Proof Set, Large Cent through Seated Dollar, lots 1741
through 1749, sold separately but aggregately realized $67,015.
The 1899 Gold Proof Set, Quarter Eagle through Double Eagle, lots 1750
through 1753, aggregately realized $151,225.
The 1911 Proof Set, Cent through $20, lots 1754 through 1762,
aggregately realized $194,521.
The Panama-Pacific Set, lots 1765 through 1769, aggregately realized
$152,260.

Other highlights in the Gold section include:

Lot 1783, an 1854 type 2 NGC MS64 Gold Dollar, sold for $25,300.
Lot 1796, an 1808 AU Quarter Eagle, sold for $55,200.
Lot 1833, a 1911-D PCGS MS63 Quarter Eagle, sold for $27,312.
Lot 1848, an 1854-D ANACS AU53 $3 Gold, sold for $22,425.
Lot 1854, an 1876 PCGS PF65 $3 Gold, sold for $80,500.
Lot 1859, the Mandelstamm specimen of the ever-popular 1879 NGC PF64
Flowing Hair Stella, sold for $172,500.
Lot 1863, a 1796 6 over 5, PCGS AU53 Bust Half Eagle, sold for
$44,850.
Lot 1895, a 1906 NGC PF65 Half Eagle, sold for $26,450.
Lot 1898, a 1909-D PCGS MS65 Half Eagle, sold for $27,025.
Lot 1908, a 1796 PCGS AU50 Eagle, sold for $64,400.
Lot 1924, an 1893 NGC PF64 Eagle, sold for $29,325.
Lot 2026, a 1907 PCGS MS64 High Relief Double Eagle, sold for $49,450,
well above market value!
Lot 2116, a Justh and Hunter SS Central America Gold Assay Bar, sold
for $36,800.
Lot 2117, an 1851 US Assay Office 887 THOUS NGC AU55 $50, sold for a
hefty $44,850.
Lot 2120, an 1852 US Assay Office 887 THOUS PCGS EF45, sold for
$29,900.

Commenting on the Superior February Elite Auction, Executive Vice President and COO Larry Abbott commented: "We are delighted to have built off of the momentum of our strong January 2006 Orlando Elite Auction with an even more successful February Beverly Hills Elite Auction barely a month later. We attribute the unqualified success of this auction to the large number of fresh, private collections that we were privileged to offer, especially the Allan Mandelstamm Collection, which exceeded our pre-sale estimates by almost $1 million, and with all lots selling. Also, Superior Galleries has been holding Beverly Hills Pre-Long Beach Elite Auctions for decades, and we were pleased to continue this tradition in our newly renovated, state-of-the-art auction and retail gallery in Beverly Hills, which enabled us to conduct this auction with the added benefit of increased comfort, convenience, and service to our clientele."

For further information about this Beverly Hills Elite Auction or to consign to Superior's future Elite Auctions, please contact Paul Song, Vice President of Auctions, at 310-203-9855 or [e-mail].

Superior Galleries, Inc. is a publicly traded company acting as a dealer and auctioneer in rare coins and other fine collectibles. The firm markets its products through its prestigious location in Beverly Hills and the company's web site at www.sgbh.com.

Included in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including express and implied statements concerning future growth potential, future revenues, income, results of operations, expansion plans, and expectations. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that the expectations reflected in such forward-looking statements will prove to have been correct. These forward-looking statements are subject to certain risks and uncertainties, including market and other conditions that may affect our ability to expand our auction and dealer activities and control our operating costs and risks identified in our SEC filings. The company's actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors, including sales levels, operating costs, distribution and competition trends, consumer preferences, and other market factors. Past sales performance may not be indicative of future results. No assurances are given that sales trends or sales performance on behalf of consignors or customers will continue.