Superior Galleries to Sell Rare Coins Through Overstock.com Auctions.BEVERLY HILLS Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. , Calif. -- Superior Galleries, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SPGR) announced today that it has begun marketing rare coins through Overstock.com(R) Auctions(TM) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :OSTK). Silvano DiGenova, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Superior Galleries, said, "We are excited about our relationship with Overstock and we believe that both our and Overstock Auctions' growing presence in Internet auctions and commerce will assist us in expanding our online revenues." Currently, Superior has over $3 million of rare coin product available through Overstock.com Auctions. Among the rare coins currently up for auction is the famous 1794 Flowing Hair Dollar The Flowing Hair Dollar is a silver dollar coin issued by the United States government, equal to 100 cents. Flowing Hair Dollars were only minted in 1794 and 1795. The coin is named for the incarnation of Liberty on the obverse with free flowing hair. . This coin is the USA's first dollar and a symbol at the time of our viability as a nation. Not only is this one of the finest coins capping any collection for the serious collector, it's also an important piece of American history. Mr. DiGenova further commented that "coins are, as in the quote from the James Earl Jones video, 'like holding history in your hands.'" The 1794 Flowing Hair Dollar can be viewed at the following link: http://www.superiorgalleries.com/images/americasfirstdollar.jpg All known strikes of this romantic issue were made on October 15, 1794. The designs were by Robert Scot, hailing originally from England, who also personally cut the dies. This remarkable specimen is ranked as the 9th Finest Known in existence by Martin A. Logies in his recent book "The Flowing Hair Dollars of 1794, A Historical and Population Census Study," published August 2004. Provenance should also note that the coin was once donated in 1926 by Louis B. Hungerford to the Connecticut Historical Society, where it remained until 1983. This specimen is the finer of only two 1794 dollars in any PCGS PCGS Professional Coin Grading Service PCGS Placer County Genealogical Society (California) About Uncirculated un·cir·cu·lat·ed adj. Not circulated or in circulation; not moving around or flowing freely: uncirculated coins; uncirculated air. grade, the other example (AU-53) traded dealer to dealer within the last year for a reported $350,000. Accordingly, the value for this finer example is estimated at $400,000 - $600,000. "The rare coins category is one of the most popular and successful categories on Overstock Auctions," said Holly MacDonald-Korth, vice president of auctions at Overstock.com. "Superior Galleries is a great addition to Overstock Auctions' community and one of the many fine sellers that are helping Overstock.com Auctions grow into a thriving marketplace for coins and other rare objects. I encourage anyone who collects or is interested in rare coins to take a look at Superior's impressive collection." When buying coins online, Mr. DiGenova advises collectors to ensure the coins have been graded by the Professional Coin Grading Service The Professional Coin Grading Service (PCGS) is a third-party appraisal service for grading rare coins. It determines the condition and authenticity of each coin it grades to provide consumers with an independent knowledgeable rating on which to judge the coin. or the Numismatic nu·mis·mat·ic adj. 1. Of or relating to coins or currency. 2. Of or relating to numismatics. [French numismatique, from Late Latin numisma, numismat-, Guarantee Corporation. He also suggests that collectors buy from dealers that are members of the Professional Numismatic Guild (PNG (Portable Network Graphics) A bitmapped graphics file format endorsed by the World Wide Web Consortium. It is expected to eventually replace the GIF format, because there are lingering legal problems with GIFs. ), an ethics body that accepts only bona fide [Latin, In good faith.] Honest; genuine; actual; authentic; acting without the intention of defrauding. A bona fide purchaser is one who purchases property for a valuable consideration that is inducement for entering into a contract and without suspicion of being coin dealers. About Overstock.com Auctions Overstock.com Auctions is an online community of auction buyers and sellers connected through their personal and business networks. It offers 30% lower fees, volume discounts and a simple listing process for sellers; for buyers, it provides a trusted community of auction users. Overstock.com Auctions can be found at http://auctions.overstock.com. About Overstock.com Inc. Overstock.com, Inc. is an online "closeout closeout, closure the finalization of a feeding program in a feedlot. The cattle are sold and a balance sheet is struck which includes the costs of feeding and housing or confining them. " retailer offering discount, brand-name merchandise for sale over the Internet. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory liquidation distribution channel. Overstock.com, Inc., headquartered in Salt Lake City, is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. listed on the NASDAQ National Market System and can be found online at www.overstock.com. Overstock.com is a registered trademark, and Overstock.com Auctions is a trademark of Overstock.com, Inc. All other trademarks are the property of their respective companies. About Superior Galleries 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, California 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 revenues, income and results of operations. 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. 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. |
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