Bowers and Merena's Baltimore Auction Realizes More Than $9.4 Million

Business Wire, Nov 29, 2007

Over 4,000 Lots Crossed the Block to Realize Bowers and Merena's Highest Baltimore Sales Record in Years

IRVINE, Calif. -- Escala Group, Inc.'s (ESCL.PK) Bowers and Merena Auctions, America's leading rare coin auction house, was once again the Official Auctioneer of the Baltimore Coin and Currency Convention held on November 14 to 17, 2007, at the Baltimore Convention Center. Offering more than 3,000 coin lots and over 1,000 currency lots, the auction was the largest ever by number of lots for Bowers and Merena and realized a total of $9,465,252, Bowers and Merena's highest sales record for a Baltimore auction in years. This was Bowers and Merena's third official Baltimore auction for 2007; the March and June Baltimore auctions together realized more than $11.5 million. Bowers and Merena will continue to serve as Official Auctioneer of the Baltimore Coin and Currency Convention in 2008, with the next auction scheduled for February 27 to March 2, 2008.

"I can hardly find words to say how happy we are with the outcome of this auction," said Steve Deeds, President of Bowers and Merena. "We offered more lots than in any of our previous auctions, each of the four sessions was filled with very active bidding, and we were able to offer some truly amazing coins and currency. It was by far our best Baltimore showing and I am really looking forward to what the 2008 Baltimore auctions will bring. We also especially want to acknowledge and thank Mary Counts, David Crenshaw and the entire Whitman team for their support and production of a first-class convention where Bowers and Merena is proud to be the official auctioneer."

The crown jewel of this Baltimore auction was Lot 4668, an 1854-O Liberty Double Eagle graded AU-50 by PCGS that realized $368,000. "It is always an honor to auction a coin that is as truly exceptional as this one. A coin of this magnitude does not come around very often, and I am proud to say this is the second example of this rare coin that Bowers and Merena has sold this year," remarked Deeds. At the Milwaukee Rarities Sale in August, Bowers and Merena auctioned an 1854-O Liberty Double Eagle graded AU-55 by PCGS that realized $494,500.

Another spectacular lot that sold in Baltimore was Lot 683, a 1916 Buffalo Nickel Doubled Die Obverse in PCGS MS-64 that realized $316,250. It is tied with one other MS-64 as the finest of only five Mint State 1916 Doubled Die Obverse Nickels listed on the PCGS Population Report. "This coin possesses uncommonly sharp striking definition, beautiful peripheral toning and the strongest technical quality and eye appeal that we have ever seen in an example of this extremely rare 20th century U.S. Mint error," Deeds said.

Also among the extensive list of highlights for this auction was Lot 4500, an 1879 Flowing Hair Four-Dollar Gold Stella, Judd-1635, Pollock-1833, Rarity-3 in PCGS Proof-64 DCAM that realized $184,000, along with the noteworthy sale of two complete 1915-S Panama-Pacific Exposition Sets, Lot 4358 with original frame that realized $224,250 and Lot 4351 with original box that realized $187,450.

Impressive currency highlights include Lot 6072, an extremely rare Uncut Sheet of Four Kimball, WV, $5 1902 Plain Back, Fr. 606, The FNB, Charter #(S)11502, Very Fine that realized $16,675, and Lot 5741, an Original Pack of Fr. 1930-B, 2003A $1 Federal Reserve Note Errors, Mismatched Serial Numbers that realized $50,370.

Prices realized for all lots in the Bowers and Merena Official Auction of the Baltimore Coin and Currency Convention can be viewed online at www.bowersandmerena.com, or call 800.458.4646 to request a printed list.

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Bowers and Merena's next auction is the Orlando Rarities Sale held prior to the Orlando F.U.N. Show on January 8, 2008. That will be followed by the Bowers and Merena Collector's Choice Auction, February 4 to 13, 2008, in Irvine, Calif., and the next Official Auction of the Baltimore Coin and Currency Convention, February 27 to March 2, 2008. The complete auction schedule with consignment deadlines is available at www.bowersandmerena.com.

For more information about Bowers and Merena and the Official Auction of the Baltimore Coin and Currency Convention in November, call 800.458.4646. For media inquiries, ask for President Steve Deeds. Complete prices realized for all past auctions are available at www.bowersandmerena.com.

ABOUT BOWERS AND MERENA

Bowers and Merena Auctions was founded in 1983 and has grown to become the world's preeminent numismatic auctioneer with more than half a billion dollars in rare coin and currency sales. Bowers and Merena has handled four of the five most valuable United States coin collections ever sold, including the Louis E. Eliasberg Sr. Collection, the Harry W. Bass Jr. Collection, the Garrett Collection for The Johns Hopkins University, and the Norweb Collection.

ABOUT ESCALA GROUP, INC.

Escala Group is a consolidated global collectibles network. The Company is a leading auctioneer of stamps, coins, arms, armor and militaria, and other memorabilia, targeting both collectors and dealers. Escala is also a merchant/dealer of certain collectibles and trader of precious metals. The Company's collectibles offerings span the modest to ultra high-end price spectrum. Escala conducts its operations in two business segments: collectibles and trading.