Remember When: The Story of Two Great Large Cent Public Auctions in 1954, Part 2

Part 2

By Harvey G. Stack, Senior Numismatic Consultant

So the two friends struck a deal…

It was the Stack’s plan to offer the Davis Graves Collection in April of 1954 and the Anderson Dupont Collection in September of that year. In the spring of 1954 the King Farouk Collection was scheduled for sale in Cairo and we hoped to put our two great collections on sale before the King Farouk coins created a drain on collector funds. If we could meet our timetable we could beat out any sale that might alter our success. Dr. Sheldon understood and said he could do it. However he said he would need our help and asked to have C. Douglas Smith to help him. Dr. Sheldon stated: “We worked together on my book and he can take great dictation. He types flawlessly. He will speed up the entire process of cataloging and help to meet the dates you set forth.” Morton responded, “We have known Doug for years and he is good, but it will take someone like you to convince him to work on this project.” Dr. Sheldon replied, “Doug will be as excited as I am to do the job.”

My father then laid out the game plan. First of all the coins were to be kept at all times in the vaults in the office, the photography was to be done in the office, and the exhibition would also be held there, in accordance with the rules our insurance company set forth when we took possession of the collections. Morton told Dr. Sheldon: “Since you and Doug work during the day, we will set up office space for you and Doug here in the back office. As you know we are part of the Hotel Salisbury but they do not have a dining room but they do have room service.” My father noted that we had used this room service many times so that we did not have to lock up the premises each time when we worked nights and weekends. As Dr. Sheldon and Doug would be working late afternoons and Saturdays, it was agreed that their dinners would be pre-ordered and, Morton continued, “My son Harvey who is the only younger Stack presently in the office will sit with you, help you when he can, and secure your work after each session. If you and Doug can give us a few days each week, we will get the work done. I will work with you when I can, help with the proofreading and other chores.” So, I had the unique opportunity to learn from Dr. Sheldon and Doug how experts dealt with two collections of this importance. For my father (and for me) this was a Win-Win situation. Both Dr. Sheldon and Doug Smith saw the importance of the opportunity as well and they both agreed to the terms.

And so both large cent collections were cataloged, Davis-Graves first and then Anderson-Dupont, and the schedules were met. Collectors received their catalogs in time to study them, view the coins in our offices, and make up their minds as to which pieces they wanted to acquire.

In upcoming articles I will tell the exciting first-hand account of how collectors traveled from all over the country to bid on these coins and about the appearance of a Mystery Lady who participated in the sale and disrupted the plans of many who attended and expected to capture many of the outstanding pieces.