Eliasberg 1927-D 'Saint' Sold for Record Price by North American Certified Trading

IRVINE, Calif., Jan. 19 /PRNewswire-FirstCall/ -- North American Certified Trading (N.A.C.T), a division of Spectrum Numismatics, an Escala Group Company (NASDAQ: ESCL) is pleased to announce that the Eliasberg specimen 1927-D Saint-Gaudens Double Eagle has been sold for over $1.9 million.

The buyer of the coin is described as "an anonymous East Coast collector," according to Andrew Glassman, President of N.A.C.T. "Time and again over my 15 years in the numismatic marketplace I've seen how the true rarities continue to gain value over the years. Numismatic history has been made; this is the highest price ever paid for a 1927-D Saint, in excess of $1.9 million," Glassman said.

The Eliasberg specimen 1927-D coin is graded PCGS MS-66, and in addition to its pedigree from the legendary collection of Baltimore banker, Louis E. Eliasberg Sr., the coin also was previously owned by another prominent collector, F.C.C. Boyd.

"The 1927-D 'Saint' was very exciting for us to place in the collection of one of our customers. This is one of the all-time rare coins of the Saint- Gaudens Double Eagle series, and the buyer is delighted to now own this historic gold piece," said Gene Nesheim, N.A.C.T Sales Manager.

In his reference book, "A Handbook of 20th Century United States Gold Coins, 1907 - 1933," author David Akers states: "It is difficult to pick out one piece as the 'finest;' but that accolade most likely should go to the Eliasberg specimen."

The 1927-D Saint-Gaudens Double Eagle is widely regarded as the rarest regular-issue 20th century United States gold coin that can be owned legally. Federal records indicate the Denver Mint struck 180,000 Double Eagles in 1927, but the Great Depression resulted in most of those being melted.

In order to help alleviate the effects of this financial crisis in American history, President Franklin D. Roosevelt issued the Gold Recall Act in March of 1933. By the terms of this act, the President banned all further gold releases by the United States Mint. Those coins that were still on hand at that time, including almost the entire mintage of the 1927-D Double Eagle, were destroyed.

"In the middle of the 20th century, numismatic researchers recognized the rarity of the 1927-D, but did not rate it as highly in this regard as such other issues in the Saint-Gaudens Double Eagle series as the 1924-D and 1926- D. Beginning in the 1950s and 1960s, small quantities of '24-D and '26-D Double Eagles have been repatriated from European or Central American banks," explained Glassman.

"While this has happened with several other issues in this series, the 1927-D has never been represented in any overseas holdings of U.S. gold. The result is that the '27-D is now recognized as the rarest regular-issue 20th century U.S. gold coin that can be owned legally."

Writing in 1988, Akers estimates just 12 to 15 surviving pieces, and in 2004 Q. David Bowers estimated approximately 15 survivors. Two of the coins are held by The Smithsonian Institution.

PCGS and NGC have certified a combined total of ten 1927-D Double Eagles, but that figure may include resubmissions.

The Eliasberg specimen was sold at auction for $176,000 in 1982. It subsequently changed hands privately several times and was acquired by N.A.C.T. in 2006.

For additional information, contact North American Certified Trading, 18022 Cowan, Suite 107, Irvine, California 92614. Phone: 800-359-4255. E-mail: info@natcoin.com Online: http://www.natcoin.com/.

ABOUT ESCALA GROUP

Escala Group (NASDAQ: ESCL) is a global federation of leading companies in the collectibles market with operations in North America, Europe and Asia as well as on the Internet. The company operates through a number of subsidiaries that specialize in various sectors of the collectibles markets, and is comprised of three business areas: auctions, merchant/dealer operations and trading.

Escala Group's North American operations include Greg Manning Auctions division, Ivy & Manning Philatelic Auctions, Greg Manning Galleries, Greg Martin Auctions, Spectrum Numismatics, Teletrade, Nutmeg Stamp Sales, Superior Sports Auctions, Bowers and Merena Auctions, and Kingswood Coin Auctions, and H.R. Harmer. In Europe, the leading auction houses affiliated with the network are Auctentia Subastas (Afinsa Auctions) of Madrid, Spain, Corinphila Auktionen of Zurich, Switzerland, and the Koehler group of auction companies of Berlin and Wiesbaden, Germany. In Asia, Escala's auctions operations are conducted through John Bull Stamp Auctions, Ltd, the oldest philatelic auction house in Hong Kong.

Merchant/dealer activities are conducted through Greg Manning Auctions and GMAI-Auctentia Central de Compras of Madrid, which act as exclusive suppliers of collectibles -- primarily stamps and coins -- on a worldwide basis to Afinsa Bienes Tangibles, S.A. of Madrid, Spain, and through Spectrum Numismatics International, one of the largest wholesalers of rare coins in the U.S. Afinsa is Escala Group's majority shareholder.

The trading activities of Escala Group are conducted through A-Mark Precious Metals, one of the largest private sellers of bullion coins and bullion gold, silver and platinum to the wholesale marketplace.

Statements in this press release that relate to future plans, objectives, expectations, performance, events and the like are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these statements. Factors that may cause such differences include changes in market conditions, changes in economic environment, competitive factors and the other factors discussed in the "forward-looking information" or "risk factors" sections included in Escala Group's filings with the Securities and Exchange Commission, including Escala Group's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, prospectuses and other documents that Escala Group has filed with the Commission. In particular, any statement related to Escala Group's expected revenues or earnings or Escala Group's being well positioned for future profitability and growth are forward-looking statements.

The words "should," "believe," "estimate," "expect," "intend," "anticipate," "foresee," "plan" and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. Additionally, any statements related to future improved performance and estimates of revenues and earnings per share are forward-looking statements. Escala Group undertakes no obligation to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.