HUNTINGTON COLLECTION TO BE SOLD AGAIN

Ed Hohertz writes:

The Hispanic Society's former coin collection, auctioned by Sotheby's a few months ago, will be sold in lots in Europe. Three of them, auctioned individually in an open bidding process, will be available for purchase in Madrid.

"Spain has never had a goodwill ambassador in North America—or anywhere else—who did so much to foster the study and love of all things Hispanic." ABC dedicated these words to Archer M. Huntington , a millionaire philanthropist from the late 19th century, in 1953.

Huntington dedicated his life to the study of Spanish culture, and in 1904 founded the Hispanic Society of America (HSA) , a public institution that houses all kinds of Spanish treasures. These include fourteen commissioned Sorolla canvases , works by Goya, medieval textiles, Roman pieces... and, until three months ago, the largest collection of coins from the Hispanic world outside of Spain. A catalog of 38,000 pieces that he assembled through purchases from individuals in Europe and Latin America.

In 2011, the HSA decided to put its numismatic collection up for sale to raise money to acquire new works of art. It offered the collection, valued at between $25 and $35 million, to the Ministry of Culture and the Bank of Spain. The government rejected the offer. "In the current situation, it would have been difficult to justify a purchase of this amount," explains José María de Francisco, dean of the Faculty of Documentation at the Complutense University of Madrid.

The institution also approached various museums in Europe and the United States, but no one was willing to acquire the entire lot. Faced with the institution's refusal, last March, Sotheby's auction house awarded it to the highest bidder in a sealed bid. For a time, the identity of the buyer remained unknown. We now know that it was a consortium of European professionals who created a Temporary Joint Venture (UTE) with the sole purpose of acquiring the collection and then breaking it up and putting it on the market. The price they paid for it remains a mystery.

One of the consortium members is Jesús Vico, owner of the Madrid auction house that bears his name. On June 26 , Vico will hold a public sale of 1,000 coins from the Huntington collection. The businessman explains that the lot was selected based on "geographical" criteria: only coins minted in the Iberian Peninsula are included. Huntington also collected coins from Spain's European and overseas colonies.

The first coin dates from the 4th century BC (a drachma, the first "unit" minted by the Greeks in Hispania) to the reign of Alfonso XIII, contemporary with the collector's death. "It's the best numismatic auction ever held in Spain," notes the dean of the UCM (University of Madrid), who catalogued the lot. The historian emphasizes that the coins are a "complete document," "an inexhaustible source of information on the art, economics, and politics of each era," he believes.

The American Numismatic Society warned in 2011 of the risk that the collection could disintegrate upon its departure from the Hispanic Society. That is exactly what has happened.

To read the complete article, see:
Adiós al tesoro de Huntington. La antigua colección de monedas de la Hispanic Society, subastada por Sotheby's hace unos meses, será vendida por lotes en Europa. Tres de ellos, subastados por piezas en una puja abierta, se podrán adquirir en Madrid (https://www.abc.es/cultura/arte/abci-subasta-monedas-huntington-201206100000_noticia.html)

To read the earlier E-Sylum articles, see:
HISPANIC SOCIETY SUES ANS OVER CONTROL OF COLLECTION (https://www.coinbooks.org/esylum_v11n13a14.html)
JUDGE RULES ANS MUST RETURN COLLECTION TO HISPANIC SOCIETY (https://www.coinbooks.org/esylum_v11n20a12.html)
THIS IS TO CRY: ARTICLE DETAILS HISPANIC SOCIETY OF AMERICA'S PLANS (https://www.coinbooks.org/esylum_v11n32a13.html)
ANS RETRIEVES ANOTHER 7,291 HUNTINGTON COINS (https://www.coinbooks.org/esylum_v16n05a20.html)

	NBS (coinbooks.org) Web