Thursday, May 30, 2013

The Encyclopedia of United States Silver Dollars 1794-1804 by Q. David Bowers

Stack's Bowers - QDB Book
The Encyclopedia of United States
Silver Dollars 1794-1804

By Q. David Bowers

The second edition of the standard work on early dollars, The Encyclopedia of United States Silver Dollars 1794–1804, is now available. The first edition of the book was published 20 years ago in 1993 as part of Silver Dollars and Trade Dollars of the United States: A Complete Encyclopedia by Q. David Bowers. The 1993 edition is long out of print and used copies have sold for $400 and up. The new stand-alone, full-color edition covers early dollars separately on 343 pages of quality paper. The new volume includes:

  • Detailed history of the early Philadelphia Mint by
    R.W. Julian
  • Easy-Finding Guide to die varieties
  • Yearly listings by Bowers Borckardt (BB) numbers as assigned in 1993
  • Updated rarity ratings
  • Revised notable examples lists
  • Modified population data

This single-volume encyclopedia, which includes extensive research by R.W. Julian and Martin Logies, as well as contributions from longtime collector Warren Miller, is affordable, easy to use and essential for any numismatic library and every dealer and collector interested in early American coins.

Price
List Price: $49.95
(Plus $10 shipping and handling.)
Order:
  • Phone: 1.866.811.1804
  • Mail: Stack’s Bowers Galleries
    P.O. Box 1804
    Wolfeboro, NH 03894
  • Fax: 603.569.3875
  • Email: mkarstedt@stacksbowers.com
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Test Your Knowledge: Name That Coin

Put your numismatic knowledge to the test and Name That Coin! Check out next week’s eNewsletter for the answer. Can’t wait until next week? Visit Stack’s Bowers on Facebook or Twitter now for the answer!


Upcoming Events: The June Baltimore Auction

The Official Auction of the Whitman Coin and Collectibles June Baltimore Expo is now online! Our Baltimore sale is anchored by six notable collections: the legendary Ted. L. Craige Collection of colonial and early American coins, Part IV; the Raymond W. Dillard Collection of elongated coins, Part IV; the Linnemann Family Collection; the Edward J. Monaghan Collection; the Richard Moore Collection and the William Porter Collection of Carson City Mint coinage, Part II.

The red carpet will be rolled out for you if you attend the live sale in Baltimore. Alternatively you can participate on the Internet (live or before the sale), on the telephone (by advance arrangement), or by sending us your bids by mail. Catalogs will be in the mail and should arrive at your doorstep around the middle of next week.


Session One will begin on Thursday, June 20th at 1:00pm EDT.  We will continue with Session Two on Thursday, June 20th at 6:00pm EDT.  The last live session will be Session Three, which begins promptly at 6:00pm EDT on Friday, June 21st.  The fun will continue with our Internet only session that closes for bids on Tuesday, June 25th at 3:00pm PDT.

United States Coin of the Week: Near-Gem 1846-O Dollar from the Linnemann Family Collection

By Greg Cohen, Professional Numismatist and Consignment Director, U.S. and World Coins.  Based on the lot description by James Matthews, Senior Numismatist and Consignment Director, U.S. Coins


A couple of weeks ago we presented an overview of the Linnemann Family Collection, one of the anchor consignments to our June Baltimore auction sale (click here to read). Our coin of the week this week is a beautiful 1846-O silver dollar that until recently was “raw,” residing in an old paper envelope and, upon consignment to our sale, submitted to PCGS, where it graded MS-64 -- tied for finest certified at that service. Our description notes: “rich swaths of toning on the obverse and reverse, with a firm foundation of gunmetal-blue which flashes with teal, yellow and lilac when examined under a light. There are deeper charcoal patches as well, mostly near the periphery of the obverse and reverse.” The strong strike adds to the overall high eye appeal of this condition census example.

The 1846-O is the first silver dollar issue from this southern branch mint with a mintage of 59,000 pieces. It is seen with some frequency in VF to AU grades, but in Mint State, it is quite scarce. Liberty Seated dollars have a strong following among collectors, and there are many specialized collections built over the years that lack anything better than an MS-63 piece. We note that aside from the one other PCGS MS-64, there is an NGC MS-65 on their census; neither coin has appeared at public auction in recent times. Indeed, the highest grade offered in recent times was a PCGS MS-63 that realized $17,250 in a January 2010 auction sale. Once the final bid is hammered down for this coin, who knows how long it will be before another comes to the market. This coin had been in a bank vault for the better part of 45 years before being brought to market. For a Liberty Seated dollar collector, this opportunity should not be taken lightly, and we expect many hands in the air when this lot is called to the auction block.


The June sale catalogs will mail shortly. There are many great coins for your bidding pleasure from the Linnemann Family Collection and other important properties. If you are not on our mailing list, be sure to contact one of our auction services associates to add your name. If, like the Linnemann Family, you have a collection that you are now ready to offer at auction, we are accepting consignments of U.S. coins for our upcoming auction sales, including the official auction of the American Numismatic Association’s World’s Fair of Money, to be held in Chicago this August. Do not hesitate to contact a consignment director to discuss your collection. We wish all bidders the best of luck and we hope to see you in Baltimore (or in our Irvine, CA or New York City offices for lot viewing).

Answers for the Avid Collector: The Rarest United States Coin

Answers for the Avid Collector

Do you have a question about anything numismatic? Want to know what’s going on here at Stack’s Bowers Galleries? If so, send your inquiries to AnswersfortheAvidCollector@StacksBowers.com and get a response to your important questions from our team of experts!

Question:  In your opinion, what is the rarest United States coin? My vote is the 1804 silver dollar, but the 1913 Liberty Head nickel is certainly a possibility. -- S.C.


Answer:  You probably mean the most valuable coin and, based on auction records, the incredible 1794 silver dollar from the Cardinal Collection that we sold last January for over $10 million holds that record. Other “most valuable” United States coins would include the 1933 double eagle (which held the record until January at over $7.5 million), the 1804 dollar and the 1913 Liberty Head nickel -- examples of both of these issues have sold for multiple millions of dollars on various occasions. In fact, quite a few different U.S. coins have sold for more than a million dollars over the past decade.

The rarest is a different consideration, as this has to do with the number known to exist. In American numismatics there are dozens of tokens, medals and coin die varieties of which only one exists. An example is the pattern 1849 $20 in the National Coin Collection in the Smithsonian, probably worth many millions. Or, there is a unique brass Breckinridge token muling that I purchased a while ago that cost me around $700.


The value of a coin does depend on its rarity, but it also depends on its popularity, fame, and the demand for it. Thus the 1804 dollar and 1913 nickel you mention are more famous than some rarer coins and appeal to a wider circle of enthusiasts. An obscure political token may be of interest to only a few.

Crossing the Block: Very Rare 1831 Pattern Crown Struck in Gold, from the Thos. H. Law Collection

By Greg Cohen, Professional Numismatist and Consignment Director, U.S. and World Coins

Stack’s Bowers is extremely proud to have been selected to present the Thos. H. Law Collection of British Gold Coins, to be offered in a scholarly researched and illustrated stand-alone catalog during our official ANA auction in Chicago this August. The Law Collection is one of the most extensive collections of British gold ever assembled in the United States.  Over 450 coins, from the 14th century to the late 20th century provide a tangible historic perspective into the 700-year history of British gold coins. Thos. H. Law displayed his collection with pride throughout the United States, especially at the annual ANA convention, where he won numerous awards, including the Howland Wood Award five times. We will be featuring a coin from this award winning collection each week, and the first is a superlative 1831 Pattern Crown, struck in gold. The reign of William IV was a short one, lasting only from 1830 to 1837, but he had many interesting pattern gold coins struck and offered is an ultimate example, the highlight of this ruler’s coinage in the collection

The obverse of this impressive gold coin was designed by William Wyon, and features a bare head of William IV facing right with the legend GULIELMUS IIII D: G: BRITANNIAR: REX F:D:. The reverse was designed by Johann B. Merlen and shows an intricately engraved British Arms within the collar of the Garter supported by a crowned draped mantle. St. George is suspended from the collar, date ANNO 1831 below. Simple designs are elegantly presented by the very talented engravers. Examples of this and all 1831 gold coins are struck in Proof format.

Attributed as Seaby-3833; Friedberg-381; Wilson and Rasmussen-270 (Rarity-5); KM-PnA98, there were no crowns struck for circulation in 1831 and all are considered patterns. The off metal strike in gold has often been described as a Five Pound piece, although no Five Pound coins were struck during William IV’s reign. Wilson and Rasmussen estimate that there are 6 to 10 examples known. Thos. H. Law purchased this example in 1984 from Spink & Son for £39,000. It is currently graded Proof-63 Ultra Cameo by NGC, and is the only example certified by that service. Bold cameo contrast is seen between the fields and the devices; we note some minor handling on the high points of the obverse and a small toning spot on the reverse, which will help identify this piece as the Law coin.


It has been a very long time since a specimen of this rare issue has been offered for sale and we suspect that the bidding activity will be frenzied when it crosses the block during our offering of the Thos. H. Law Collection, part of our official auction for the American Numismatic Association’s World’s Fair of Money. If you are interested in British gold coins, be sure that your name is added to our mailing list for this important numismatic event by contacting one of our auction services associates. For more information on this collection, please contact Bruce Roland Hagen or Lawrence R. Stack.

World Coin of the Week: Russian Coronation Jeton in Gold

By Chris Chatigny, Cataloger

This week Stack’s Bowers and Ponterio is proud to offer another remarkable Imperial Russian piece. The upcoming August ANA World’s Fair of Money auction in Chicago will contain a large number of Russian numismatic rarities. The highlight for this week is a Jeton, or medal, commemorating the coronation of Emperor Nicholas I. Nicholas I was the third son of Emperor Paul I, and as such he likely never expected to become the sole ruler of all Russia. His eldest brother, Emperor Alexander I, died suddenly and childless, and thrust the two remaining brothers into a succession battle. Before blood was spilled, Nicholas’ older brother Constantine Pavlovich yielded the throne to Nicholas, who became Emperor Nicholas I of Russia. Some army officers still supported the elder brother, and revolted against the new emperor in what became known as the “Decembrist’s Revolt.” Emperor Nicholas I quickly crushed the uprising, but the severity of dealing with a revolt on the first day of his reign led him to become an extremely reactionary ruler. His heavy-handed rule was known for a repression of all classes, excessive censorship, and persecution of all non-Russians. Nicholas I’s downfall began when he challenged the Ottoman Empire in order to secure naval passage through the Bosporus. All of Europe feared Russia’s expanding power, and Russia found itself fighting against all of Europe in the Crimean War. The Russian army was unable to defend its position, and during the war Nicholas I caught a cold, refused any treatment, and died shortly after of pneumonia. The new emperor, Alexander II, ended the war with very unfavorable terms for Russia, including the devastating loss of any naval activity in the Black Sea.

This Jeton was struck to commemorate the coronation of Tsar Nicholas I, and is gold, the rarest metal for this medal type. The coronation took place in Moscow, with a massive parade leading up to the Cathedral of the Dormition, in the Kremlin. Inside the Cathedral, an ornate religious ceremony was held which was presided over by the Patriarch of the Russian Orthodox Church. The new Emperor was anointed and adorned with the Imperial regalia, most important of which was the Imperial Crown of Russia. The Jeton displays a design of the Imperial Crown on the obverse, above the royal cipher – or monogram – of Nicholas I. The reverse displays the Imperial Crown in the upper portion as well, above a Cyrillic inscription stating: “Crowned in Moscow – 1826.” This beautifully simple and elegantly styled medal was struck in different metal types, with gold being the rarest. This piece has been specific gravity tested at 16.12 to verify that this piece is .850 fine gold. This gold coronation medal is sure to draw a crowd at the ANA World’s Fair of Money Auction in Chicago, as will the large number of highly collectible Russian coins and medals.


Look for this and other world numismatic pieces in our upcoming August ANA Sale. Preview this impressive coin along with the rest of our auction this August at the Stack’s Bowers and Ponterio office located in Irvine California or New York City. For details please refer to the Auction Schedule/Details link under Current Auctions at www.StacksBowers.com. To schedule an appointment, please call 800.566.2580.

World Coin of the Week: Korean Chatelain

By Chris Chatigny, Cataloger

The Stack’s Bowers and Ponterio August Hong Kong Auction is sure to draw enormous crowds and attention as it will feature the impressive Edgar J. Mandel Collection of Korean charms and amulets. Edgar Mandel was a pioneer in Far Eastern numismatics and his devotion went beyond the realm of hobby. Mandel diligently researched and compiled his information into new publications that serve today as the base for any serious research into these items. The upcoming auction will feature a large portion of Korean charms and amulets from the Mandel Collection, which will surely become a renowned pedigree. Some of the larger pieces from this collection will be featured here in the coming weeks, including this enticing “Chatelain.” These items are believed to be gifts to brides on their wedding day, and comprise a multitude of charms, amulets, and coins to offer protection and good luck. These traditional pieces may have been worn at the waist during the ceremony. After the wedding they were displayed in the woman’s portion of the house to extend the protection and luck. These items were a visual indicator of the wealth and prestige of a family as well -- the larger the central piece and the number of charms and amulets attached directly indicated the stature of the family. Most of these items were created in the 1800s (including this particular piece) and very few have survived intact to the present day. The cloth is prone to rip and tear easily after decades, and they are occasionally dismembered and sold piecemeal.

This particular Chatelain is an Octagonal Openwork type, with the main piece containing an ornate knotted tree design with nine charms arranged in groups of three along the left and right sides and in the upper portion, underneath a “Double Happiness” compound character. A decorated frame surrounds the design, and attached to the top there are two additional charms at either side of an ornamental top loop. Beautiful deep red rope tied in an intricate knot is attached at the pinnacle and may be seen as a metaphor for the union of the bride and groom. This octagonal piece serves as the focal point for the rest of the Chatelain, which contains 12 colorful streams of cloth with a multitude of charms, seed coins, and regular coins woven into each of the 12 stands. The cloth has retained its vibrant hues, predominantly red but also some yellow, cream, and teal colored strands. The smaller pieces attached include a total of 11 charms, 36 “seed coins” (the specially prepared examples which are then used to create molds for the regular issue coinage), and 68 regular issue coins. A number of the coins and charms contain a remnant of colored pigments, which enhances the already vibrant nature of this piece. Overall this piece is attractive and original and, along with the entire Mandel Collection, is certainly expected to attract attention in August.


Look for this and other Asian numismatic rarities from the Edgar Mandel Collection in our upcoming August Hong Kong Sale. Preview this impressive coin along with the rest of our auction this August at the Stack’s Bowers and Ponterio office located in Irvine, California. For details please refer to the Auction Schedule/Details link under Current Auctions at www.StacksBowers.com. To schedule an appointment, please call 800.566.2580.

From the Desk of Q. David Bowers: Exonumia

Written by Q. David Bowers, Chairman Emeritus

Last week I commented on a favorite series and my forthcoming study of it, The Whitman Guide Book of Civil War Tokens. This is now in press as you read these words and is schedule for release some time this summer.

This reminds me to suggest that the entire field of exonumia offers many interesting opportunities. The word exonumia was coined by the late Russell Rulau, meaning “exo” or outside of and “numia” or numismatics, of course. Tokens, medals, scrip notes, and the like are really not out of numismatics, but they are certainly removed from the federal coinage series.

Today in 2013 there are many fields that offer great opportunities. Believe it or not, large sections of exonumia have no reference books written about them or, if a reference book has been written, it is hard to find. As a miscellaneous example, during the Civil War, particularly from 1862 to 1864, hundreds of different merchants in New York State issued paper scrip notes in denominations such as 5¢, 10¢, 25¢ and 50¢, plus some others. These were usually printed on one side, sometimes on two, and gave a denomination and the name and address of the issuer. At a time when no silver coins were in circulation and even one-cent pieces were scarce, these passed readily from hand to hand. Recipients knew that a given hotel, saloon, railroad or other establishment that issued the scrip note would make good for its redemption. In the meantime they were useful in commerce to buy a newspaper, get a haircut, or sip a glass of soda.

As there is no book on this subject, no Internet source, or any other place to tap for comprehensive information, the opportunity affords itself of acquiring rare or even unique pieces for nominal costs. Many such scrip notes sell for between $10 and $30.


The field of American Art medals is similar. Although R.W. Julian has chronicled medals struck at the Philadelphia Mint from the 1790s through 1892, and a few other scattered references exist such as David Alexander’s recent tome on Society of Medalists pieces, by and large American medals of the 19th and 20th centuries are not cataloged. There are stray mentions of them in auction listings, but no single place where someone could turn and find out how many award medals were given by the American Institute in, say, 1856. However, such information does exist for some, such as annual reports of this particular institute. The Internet also beckons. This makes tracking down information much easier than it was a generation ago. Still, many remain elusive, generating quite a bit of pleasure and excitement when, after a long hunt, a particular merchant is identified and details learned.

Did You Know???

Did you know that Stack’s Bowers holds the record for the highest price ever paid for a modern (post-1964) U.S. coin at auction? The 1975 No S. Roosevelt dime, certified Proof-68 by PCGS sold for $349,600 in our August 2011 ANA sale. 

Thursday, May 23, 2013

Did You Know???


Did you know that Stack’s Bowers holds the record for selling the world’s most expensive New England Sixpence? The 1652 New England Sixpence, also known as America’s most valuable “found” coin sold in our November 2012 auction for $431,250.

Test Your Knowledge: Name That Place


Here are the answers to last week’s Test Your Knowledge! Did you pass the test? Check back next week for a new numismatic question.


Upcoming Events: Summer Auction Consignment Deadlines!


Don’t wait until it’s too late! There is still time to consign your United States, medals, and paper money to our official auction of the ANA World’s Fair of Money, which is sure to be one of the biggest auction events of the year. There is also still time to consign to our August 2013 Hong Kong auction! Listed below are the deadlines so call your favorite consignment director today at 800-458-4646 and let Stack’s Bowers Galleries help you realize the best possible price for your collection.

·         Consign your Asian coins and paper money to the August 2013 Hong Kong auction by May 28th, 2013.
·         Consign your United States coins, medals and paper money to the official auction of the August ANA World’s Fair of Money 2013 by June 22rd.

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.

Answers for the Avid Collector: Your First Purchase


Answers for the Avid Collector

Do you have a question about anything numismatic? Want to know what’s going on here at Stack’s Bowers Galleries? If so, send your inquiries to AnswersfortheAvidCollector@StacksBowers.com and get a response to your important questions from our team of experts!

Question:  Mr. Bowers, do you remember the first coin you ever purchased – either for your own collection or for your business? – M. K.
Answer:  Thank you M. K. for your question. When I first became interested in numismatics in 1952 I began filling two Whitman “penny boards” with coins from circulation. The first blue folder had openings for issues from 1909 to 1940 and the second began in 1941, if I remember correctly. During the first month or two I found most of the varieties, but never did come across a 1909-S V.D.B. (a circulated example of which was worth all of about $10 at the time), a 1914-D or a 1931-S. Within a year I began attending the Wilkes-Barre (Pennsylvania) Coin Club, often as the guest of George P. Williams, an insurance agent who lived in Kingston, next to my hometown of Forty-Fort. At the club there were all sorts of items for sale.

Meanwhile, closer to home, I learned of a Forty-Fort collector named Mr. Evans, who also raised tropical fish. He had a number of bright Uncirculated Indian Head cents for sale at $1 each and I bought as many different dates as I could, these being the later dates. From Copley Coin Company I purchased my first mail order coin, which I mentioned in an earlier installment of this column, a Proof 1859 Indian cent for $11.

By 1953 I was what they called a vest-pocket dealer, or a part-time dealer with a stock of coins, but not as a main business. Indeed, I was in junior high school. A particularly expensive buy at the time was from a dealer who had a shop in the Hotel Redington in Wilkes-Barre. He sold stamps, hobby goods, coins and other things. He had a beautiful Gem 1854 $3 piece -- which I had never seen before. It was priced at $35 and before I walked out I was its proud new owner.

World Coin of the Week: French Indo-China Complete Proof Set, 1889


By Chris Chatigny, Cataloger

Present day coin expositions, including the upcoming August Hong Kong auction, provide a venue for diverse cultures to come together and for collectors and scholars to discuss a mutual passion in numismatics and acquire more exceptional pieces for their collections. These events evoke the spirit of the old time World’s Fair expositions and this August, Stack’s Bowers and Ponterio is proud to offer a complete Proof Set from a very famous World Fair held in Paris. The 1889 Exposition Universelle was a momentous occasion; first and foremost, the Eiffel Tower (which was not entirely completed but still open to the public) served as the grand entrance arch to the fair. The event was held during the 100th anniversary of the storming of the Bastille, traditionally seen as the beginning of the French Revolution. One of the gathering rooms was a reconstruction of the Bastille and surrounding neighborhood; this room was used as a ballroom as well. Some famous attendees included Thomas Edison, Vincent Van Gogh, and the future King Edward VII. The largest diamond known at that time, the “Imperial Diamond” was on display. One of the major attractions at this World’s Fair was a “human zoo” or ethnological exposition of the French overseas empire.

An integral portion of the French colonial empire was French Indo-China, located in Southeast Asia, and comprising the modern day countries of Vietnam, Laos and Cambodia, French Indo-China remained under French control until the uprising of Vietnamese nationalists, culminating in a French withdrawal in 1954. The Paris Mint commemorated the Exposition Universelle of 1889 by producing a limited six piece Proof coin set to be sold at the fairgrounds. Only 100 sets were produced and it is extremely rare to find a complete intact set such as this, especially with the original box so well preserved. The front cover of the case displays various symbols of the French Republic, including two cornucopias overflowing with coins. The Fasces, a symbol of power and jurisdiction throughout the Roman republic and empire and adopted by many later countries and nations including the U.S., appears in the center of the cover. The interior of the case is deep blue velvet, with a niche for each of the six coins. The denominations include a two sapeque, one-cent, ten-cent, twenty-cent, fifty cent, and the crown sized one piastre. The two sapeque and the one-cent piece are bronze while the other four are silver. The two-sapeque piece bears an interesting design, with a square hole cut out of the center, with the date and “INDO-CHINE FRANCAIS” on the obverse and a Chinese inscription stating the denomination and colonial title. The one cent piece contains an outer legend stating: “REPUBLIQUE FRANCAIS” and the date of 1889, with an inner border dividing it from the main design of Liberty seated, facing left at a quarter turn holding Fasces. The mintmark “A” denoting Paris appears underneath Liberty’s throne. The reverse displays a similar outer legend and inner border type as the obverse, with the central design including a vertical Chinese inscription and the denominational note of “1” and “C” for one cent. The silver pieces follow a similar pattern, which includes Liberty seated with the Fasces. The obverse shows an upper legend of “REPUBLIQUE FRANCAIS” separated by Liberty seated with the Fasces, with the date and the inscriber’s last name of BARRE located beneath. The reverse type showcases “INDO-CHINE FRANCAIS” along the outer border, with a wreath separating it from the denomination placed in the center with the “A” Paris mintmark below.

The fact that this set has remained in such exquisite condition over the past 124 years is remarkable. With a cursory examination it becomes clear that these coins remained undisturbed in their blue velvet case for many years where they attained very natural and extremely pleasing toning. The bronze pieces are a choice red and brown. The reverse of the ten-cent piece and the obverse of the twenty-cent piece are slightly darker than the other pieces. The overall toning is beautiful golden red with the obverse of the fifty-cent piece displaying the most striking and largest area of toning. The entire set is quite attractive and most of the pieces received a Proof 65 grade from NGC, with one NGC Proof 64 and one NGC Proof 63. These six pieces and their original box can remind coin enthusiasts of historic World’s Fairs, and the cultural exchange that they brought. This legacy is continued with our modern international numismatic shows and auctions, including our Stack’s Bowers and Ponterio August Hong Kong auction, which contains an impressive and wonderful variety of numismatic treasures.

Look for this and other Asian numismatic rarities in our upcoming August Hong Kong Sale. Preview these impressive coins along with the rest of our auction this August at the Stack’s Bowers and Ponterio office located in Irvine California. For details please refer to the Auction Schedule/Details link under Current Auctions at www.StacksBowers.com. To schedule an appointment, please call 800.566.2580.

Crossing the Block: Russian Gold 2 Rubles of Catherine I


By Chris Chatigny, Cataloger

Imperial Russia provides this week’s August ANA World’s Fair of Money highlight coin. Stack’s Bowers and Ponterio is proud to showcase a beautiful gold piece from the brief reign of the first Russian Empress, Catherine I. In the brief span of her life she managed to rise from peasant origins to become Empress of Russia. Catherine worked in various households until she worked for Prince Alexander Menshikov, the best friend of Tsar Peter the Great. Peter quickly took her as his mistress, secretly married her, and when she helped save him and his empire through negotiations, he married her publicly. She became the Tsarina and when Peter the Great established the Russian Empire, she rose to Empress. In the year before his death Peter named Catherine his co-ruler, and he died without naming a successor. The “new men” – commoners raised to positions of power based on competency – helped secure Catherine’s succession, and ruled through the Supreme Privy Council. Catherine was more than a mere puppet of this council, and was able to lower taxes by reducing military expenditures, earning popularity among the masses. Catherine’s greatest achievement lay in the precedent she set: that women could rule Imperial Russia. The century that followed would almost entirely be dominated by women as Elizabeth and Catherine the Great each continued Peter the Great’s policies of modernizing Russia.

Catherine ruled and struck coins with her portraiture for only a brief two years, and as such her coins – and especially the gold pieces – are scarce. The two Rubles was the only denomination of gold coinage struck by Catherine, with this particular coin being the rare first year of issue. The obverse features a cuirassed bust of Catherine facing left, adorned by a crown. The Cyrillic legend states: “Catherine, Empress and Autocrat of all the Russias” with the plural “Russias” having historical significance and usage dating back to 1700 and even earlier. The reverse features an image of the patron saint of Russia, Saint Andrew. He is depicted standing facing on a low base, robed and adorned with a halo. St. Andrew is holding his famous x-shaped cross behind him. The reverse inscription reads: “New Coin weight 2 Rubles 17-26.” This lovely gold coin is a very nice example for the type, lustrous and attractive. The coin is NGC certified AU-58 and is tied for second highest graded by NGC. This scarce gold two Rubles piece is an exceptional piece and a real highlight of our upcoming August ANA auction in Chicago.

Look for this and other world numismatic pieces in our upcoming August ANA Sale. Preview this impressive coin along with the rest of our auction this August at the Stack’s Bowers and Ponterio office located in Irvine California or New York City. For details please refer to the Auction Schedule/Details link under Current Auctions at www.StacksBowers.com. To schedule an appointment, please call 800.566.2580.


United States Coin of the Week: Key Date, Brilliant Gem 1879-CC Morgan Dollar


Based on the lot description by James Matthews, Senior Numismatist and Consignment Director, U.S. Coins


Stack’s Bowers Galleries is proud to present selections from the William Porter Collection, Part II, in our official auction of the Whitman Coin and Collectibles Expo this June in Baltimore, Maryland.  Highlighting the collection is an 1879-CC Morgan dollar graded Mint State 65 by NGC. The 1879-CC dollar is the second rarest of all Carson City issues of the Morgan design and an example in any grade always attracts a lot of attention when offered. The MS-65 level just adds excitement. In comparison to the hundreds of thousands of Morgan dollar enthusiasts, relatively few examples are available with this grade classification.

This beautiful 1879-CC dollar displays mint frost radiating across the fully brilliant surfaces and is well struck and free of the bag marks that are frequently seen on Mint State Morgan dollars from the Carson City Mint. If not for a few trivial nicks and faint luster grazes (located almost entirely on the obverse), it no doubt would have received a higher grade assessment. Here indeed is an important opportunity  and we expect bids to come from all directions!

Carson City Mint expert Rusty Goe estimates that between 17,000 and 19,000 of these 1879-CC Morgan dollars exist today, with perhaps one-third of those in Mint State -- mostly in rather baggy condition. Gems have proven to be rare, with the certification services recording precious few at this coveted level. Furthermore, due to its status as the second rarest CC Morgan dollar, demand has always been strong. In fact, way back in 1974 when the General Services Administration offered 3,633 of this date and mint, they sold out quickly and prices have steadily risen ever since.

View this coin and other selections from the William Porter Collection, Part II along with our entire June 2013 Baltimore auction on our website next week.  Call 800-458-4646 to schedule a private viewing of the entire sale in our California or New York offices.  We hope you plan to join us in person, in Baltimore the week of June 17 through 22 for another exciting auction event.

From the Desk of Q. David Bowers: Civil War Tokens

Written by Q. David Bowers, Chairman Emeritus
As I write these words, my latest production, The Whitman Guide Book of Civil War Tokens, is in press. Release is expected this summer, at which time it will be available nationwide through coin dealers, hobby shops and bookstores. It will comprise nearly 400 pages, with well over 1,000 color illustrations, and will give a detailed discussion of one of the most interesting series in American numismatics.

By definition, Civil War tokens are substitute money, not federal issues, coined privately during the Civil War period from April 1861 to April 1865. Most of them are dated 1863. If you are a student of American monetary history you know that beginning in December 1861, when the outcome of the war was uncertain, gold coins began to be hoarded and were no longer available at face value. By spring 1862 when Legal Tender Notes were not payable in silver or gold coins, concern increased and silver pieces were withdrawn from circulation. The icing on the cake was the second week of July in 1862, when even the copper-nickel Flying Eagle and Indian cents disappeared. For the first time in American history, and without a repetition since then, we had a completely coinless society! It was not possible to buy a glass of soda, have a haircut, get the latest newspaper, take a coach ride, or do much else.

Almost immediately the government jumped into action as did hundreds of private businesses and localities. On July 17 the Treasury Department made ordinary postage stamps legal tender! A flood of paper scrip notes with printed values such as three cents, five cents, 10 cents, 25 cents and 50 cents appeared, issued by hotels, railroads, saloons, and other businesses, and redeemable in such locations. In a given town these notes were interchangeable throughout commerce, so long as they were imprinted with the name of a business that would eventually redeem them. This worked quite well.

On August 12, the encased postage stamp was patented by John Gault. Over 30 different businesses used these to advertise. These consisted of a brass frame housing a postage stamp visible through clear mica on the face, and with a commercial message on the back. The number of these circulated is not known, but was probably in the millions. Today they are avidly collected.

Returning to the Civil War tokens, most of these were made of bronze and about the size of a federal cent. Bronze was a softer metal and easier to strike, and was less expensive to produce. In 1862, increasing to a flood in 1863, tens of millions of dollars of these tokens were circulated. As my new book explains, these were divided into two categories. Patriotic tokens depicted the American flag, cannon, ships, Indian heads and the like, with inscriptions such as UNION FOREVER, ARMY & NAVY,  and so on. These did not bear the name of any issuer. The second category was that of store cards, which on the obverse had an advertisement for a business, product or service, and on the reverse a design such as a Liberty head, Indian head, eagle or something else. Nearly 1,000 different businesses issued these.

Today Civil War tokens are enthusiastically collected. The Civil War Token Society publishes the Civil War Token Society Journal and is well worth investigating. Check their internet site. The field of such tokens has much potential, as great rarities can be obtained for nominal prices. Beautiful Mint State examples of coins of which fewer than a couple dozen are known can be bought in some instances for less than $100, and in other instances for just slightly more. A modest budget goes a long way. Beyond that, each token has an interesting story to tell.

Creating the Guide Book was a fascinating project and involved many helpers. Watch for announcements as soon as it becomes available!

Friday, May 17, 2013

Crossing the Block: The Linnemann Family Collection


By Greg Cohen, Professional Numismatist and Consignment Director, U.S. and World Coins.


Stack’s Bowers Galleries is very pleased to offer in our June Baltimore auction the Linnemann Family Collection. Assembled from circa 1955 to 1968 by brothers Arthur and George Linnemann, this collection has been stashed away in a Queens, New York, safety deposit box since George’s death in 1968. The brothers worked on collecting type coins and pattern coins. We are proud to have been selected by the family to offer this wonderful collection to the current generation of collectors. There are many great coins in the collection, but the following highlights are particularly noteworthy:

·         1793 Half Cent. EF-45 (PCGS)
·         1800 Silver Dollar. AU-53 (PCGS)
·         1846-O Silver Dollar, MS-64 (PCGS)
·         1875 Pattern Twenty Cents. Judd-1412 Proof-64 RB (PCGS)
·         1876 Pattern Quarter Eagle. Judd-1480 Proof-64+ RB (PCGS)
·         1885 Pattern Quarter Eagle. Judd-1752 Proof-65 Cameo (PCGS)

Below is the biography of the brothers, provided by their family. We would like to thank the Linnemann Family for entrusting us with the sale of their collection. Catalogs will be out shortly, if you are not on our mailing list, please contact one of our auction services associates to add your name. We look forward to seeing you at lot viewing either in our Irvine or New York offices, or at the convention center in Baltimore. If you plan to participate as a bidder, we wish you the best of luck, and if you have any questions regarding coins in the sale, we are happy to assist. If you, like the Linnemann Family, have a collection of coins that you are looking to consign to one of our upcoming sales, contact one of our auction consignment directors today.

Brothers Arthur and George Linnemann were born in the New York City Borough of Queens late in the second decade of the twentieth century and were both educated in local New York City public schools. Arthur left school to assist his grandfather in the operation of his floral business and George furthered his education and was part of the first class of Queens College. He was also a track star and held the Queens College record for the 220-yard dash for over a quarter of a century.

In the spring of 1941 Arthur was conscripted into the military and was selected for Officers Candidate School where he graduated as a second lieutenant. George enlisted in the army on the Monday after the Pearl Harbor attack. Both were artillery officers, with Arthur advancing to a Port Officer in Oran and Naples while George became an Intelligence officer in Europe. They were both honorably discharged from the Army as Captains.

After their departure from the armed services, Arthur joined his father in the floral business (becoming the major grower of chrysanthemums and shamrocks in New York) and George joined the FDNY.

They became fascinated with numismatics after Arthur received a 1955 Double Date cent from a customer. This began an intense interest that lasted for thirteen years. As time went on they became involved in the bulk trade of Lincoln cents and silver dollars. Arthur devoted most of his attention to the business of the bulk trade while George tended to build relationships with collectors and numismatic societies. In short time he became the chairman of the New York Metropolitan Numismatic Society’s coin conventions. It was during this time that the brothers put together a collection of U.S. type coins and select U.S. pattern coins. Certain coins were purchased from well known New York dealers of the day, including Stack’s and Q. David Bowers’ Empire Coin Co.

In early 1968 George was appointed by New York Mayor John Lindsay to write the history of the Brooklyn Fire Department. This never happened as in February 1968 George perished while fighting a fire in Brooklyn. Arthur’s interest in numismatics waned after his brother’s death and he devoted his spare time to collecting fine art, antiques and raising ornamental plants. The coin collection was relegated to a safe deposit box where it remained until April of this year. 

Thursday, May 16, 2013

Meet With Ron Gillio in Paris in June


Did You Know???


Did you know that Stack’s Bowers partnered with Sotheby’s to sell the only 1933 dated $20 Saint-Gaudens double eagle every to be auctioned? The coin is the second most expensive coin sold at auction and realized $7.59 million.

Test Your Knowledge: Name That Place


Put your numismatic knowledge to the test and Name That Place! Check out next week’s eNewsletter for the answer. Can’t wait until next week? Visit Stack’s Bowers on Facebook or Twitter now for the answer!


From the Desk of Q. David Bowers: Enjoying Coins


Written by Q. David Bowers, Chairman Emeritus

In 1977 Q. David Bowers wrote these words in an article in the Rare Coin Review. He revised the article in a later issue. We offer it here (edited for length) as his words ring true today, over 35 years later.

There are several ways to enjoy a numismatic item. First of all, there is the coin itself, the touch or feel of it, the sensation of holding history in your hand, so to speak. Its absolutely fascinating to think that an ancient copper coin might have been held in Julius Caesar’s hand 2,000 years ago, or that a worn 1859 Indian cent could have been in the pocket of one of the combatants at the battle of Gettysburg in the Civil War. The possibilities are endless.

Perhaps the design of a coin might be interesting to you and spark enjoyable fantasies or recollections. For example, often when I see a Standing Liberty quarter dollar of the 1916-1930 era, the Roaring Twenties and all of the nostalgia associated with it come to mind. While I wasn’t living in the Roaring Twenties and, in fact, hadn’t even been thought of then, I’ve read enough history on the era to appreciate it, at least vicariously. How romantic seem the flapper girls, colorful nickelodeon pianos with illuminated art glass fronts, Laurel and Hardy movies, fancy Duesenberg cars which had STOP brilliantly illuminated in red on the back of the car each time the brake pedal was depressed, Henry Ford’s omnipresent Tin Lizzies, the great Florida land boom, all of the excitement about the stock market, and how fortunes were made by newsboys on the street corner, and maybe even F. Scott Fitzgerald’s Great Gatsby.

A coin bearing a tiny S mintmark denoting that it was made in San Francisco in the 1850s, makes one think of the Gold Rush. Those were wild and wooly days in San Francisco and in other parts of California. I also think of novelist Bret Harte’s engaging stories and remember that he was an employee in the late 1850s at the San Francisco Mint, before he achieved writing fame. Coming to mind also are the romantic towns, still intact in many instances, in the Mother Lode country in California’s Mokelumne Hill, Jackson, Sutter Creek, Angels Camp, Placerville (formerly called Hangtown from the method of fast justice there), and so on.

A coin from Carson City evokes thoughts of this mint high in the Comstock Lode country with rip-roaring Virginia City and all of its Victorian buildings nearby. All the reckless and courageous events of the Wild West once occurred there and a visitor to Carson City and Virginia City today can almost relive them.

A coin of the New Orleans Mint reminds us that this mint was established in 1838 during a time when the course of the nation was going westward, and New Orleans was a gateway to the vast areas opened up by the earlier Louisiana Purchase. In 1861 this southern mint was captured by Confederate forces. In later years it returned to U.S. government control, and produced coins through 1909.

A second aspect of enjoyment is what the coin can do for you. Mainly this is an area concerned with investment performance. With investment, however, some patience is needed. Buy coins today and sell them tomorrow and you are making profit only for the dealer. Yet, historically, if you have purchased coins carefully and held them for five to 10 years, or more, then you have done very well. Spectacular performances are the rule, not the exception! In over 20 years in the rare coin business, I have helped build fortunes for many collectors and investors. Few experiences are as rewarding as helping to make someone else rich, and this has been my pleasure time and time again.

Coins can be enjoyed for their relaxation value as well. I have spent many nights curled up on the overstuffed brown sofa in the library of my home, with an interesting numismatic book or publication in my hands. It is amazing how many fascinating tales can be found in numismatic books and in back issues of numismatic periodicals. Once I spent nearly a year of my spare time reading back issues of the American Journal of Numismatics from 1865 up through the early 20th century and back issues of The Numismatist from the early 1890s up to the present time.

An album full of coins and a shelf full of coin books can combine to take you far, far away from the cares and concerns of your office, factory, or store. It is a well-known fact that youngsters with strong interests and hobbies such as coin collecting stay out of trouble much more than their non-hobbyist counterparts. The other day in Antiquarian Bookman, the weekly journal of the out of print book trade, I saw mention of a study that dedicated book collectors and dealers apparently have a sharply lower suicide rate than the general public. I suspect that the same is true of dedicated coin collectors. The relaxation value of a coin collection can be very therapeutic.

Take the time to enjoy your collection, to become aware of its history, and to reflect on its investment potential with age. And take time to emphasize the positive aspects of coins and numismatics. We have a really great hobby, filled with interesting publications, people, organizations and possibilities. As a numismatist you are a part of numismatics, so spread your enthusiasm and let others join in this pleasurable pastime.