Thursday, October 31, 2013

Did You Know???

Did you know that Stack’s Bowers’ holds the three highest auction records for rare coins?
#1 The Cardinal Collection 1794 Flowing Hair silver dollar realized $10,016,875.

#2 The 1933 Saint-Gaudens double eagle realized $7,590,020 when we sold it in cooperation with Sotheby's.


#3 The Childs Collection 1804 Class 1 Bust silver dollar realized $4,410,000

Remember When: George F. Scanlon

By Harvey G. Stack, Senior Numismatic Consultant

While going through the hundreds of catalogs that Stack’s produced from 1935 to the present, I came across names of collectors who built collections for themselves, and as a way of sharing the fun of numismatics with their families.

One such man was George F. Scanlon.  Born and brought up in Norwich, New York, he graduated from the Wharton School of Business at the University of Pennsylvania. After graduating in 1920 he entered into the security business. He was a successful officer or director of Godchaux Sugar, Newberry Lumber and chemical, Hermetite, Vicana Sugar, Kellogg Lumber Co., Comet Rice and other successful companies.

Somewhat late in life his grandchildren asked him questions about certain coins and he "became hooked" on coin collecting. As a great believer in the United States he tried to assemble several collections (to be shared with his grandchildren), and tried to acquire as many different examples to complete certain series. His desire for beauty and quality led him to collect as many different Proof and Uncirculated specimens as he could.

His vast collection was offered and sold by Stack’s in October 1973 and contained nearly 2,800 lots; because of its broad scope, the public auction sale attracted participation from collectors all over the country. Because he had duplicates and partial as well as full sets, the sale offered many the opportunity to find missing links in their collections. Not every series was complete but the quality was impressive.

He possessed a large offering of copper coins -- half cents and large cents -- in choice condition. His small cents included several dated 1856 and a Proof 1864 L from the Charles Jay Collection. He had two, three and five cent pieces in both Proof and Uncirculated. In silver he had half dimes through silver dollars in outstanding grades, acquired from many Stack’s auctions of prior years. He had early Proof sets, starting with 1858 and complete to 1915, many in their original wrappings from the 
Mint.
His gold coins comprised gold dollars to double eagles, with examples pedigreed to famous sales of prior years including that of George Walton, the source of most of his Southern gold. Again, the series were not complete, but included many Mint State and Proof examples.
Mr. Scanlon personally attended auctions and examined all lots he bid on. He liked to sit in the corner of the room, listen to the action, make voluminous notes and bid enthusiastically for the items he wished to add to his holdings. He mostly kept to himself, but was very close and friendly with what he termed " his favorite coin auctioneers," who helped him with guidance and valuations so he could be competitive. He had somewhat of a New England temperament, always wore a suit and a tie to a sale and could become stubborn when he really "wanted or needed something." As a student of coin values, he knew what he was doing and was not afraid to let his competitors know that "he knew" and that he could not be "run up" by others around him.  
However, a flood occurred in a bank vault where he stored his, and while his coins were fortunately not hurt, this led him to decide to make his coins available to the market. He realized that his beloved coins would not have been his if previous collectors had not chosen to stop collecting or if their heirs had not decided to put those collections on the market. As he always told me " a collection is developed to satisfy a want or desire to own, or complete, and since we can no longer, (legally) make more to fill the ever growing demand, we must hold them till we are ready to ‘redistribute’ the coins to the next group, to share with them the pleasure and satisfaction."

Coins acquired from the George F. Scanlon Collection have surely become prizes in many collections today, and we are proud to have helped him build his collection and later to offer it for sale to the next generation of collectors. It remains one of Stack’s "heritage collections" formed in the 20th century.

Answers for the Avid Collector: 17 Stars Reverse

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:  was looking at a Sacagawea “gold” dollar the other day and noticed that there were 17 stars on the reverse. I know that some United States coins have no stars and others have 13, 14, 15 or 16, but I don’t believe I have ever seen or heard of one with 17 stars. Have you ever noticed this and can you explain it? –M. C.

Answer:  The 17 stars found on the Sacagawea dollar does seem to be unprecedented, at least up to its first year of issue in 2000. As you noted there are coins with no stars, including the 1796 quarter or 1837-1838 half dimes and dimes. The 1828 half cent has 12 stars and 1804 dimes and quarter eagles, along with 1798 half eagles, have 14 stars. Various early issues display 15 stars and many early gold coins have 16. The vast majority of U.S. coins have 13 stars, reflecting the number of states in the United States when the country was first formed.


In the early years, stars were added to coins as new states joined the Union, but when the 16-star mark was reached, it was thought that the coins looked too crowded, and as a general rule, the number reverted to 13. The designer of the Sacagawea dollar, Thomas Rogers, chose to include 17 stars on his reverse design to commemorate the number of states in the Union when the Lewis and Clark Expedition began in 1803.

Paper Money of the Week: The Official Currency Auction of the Whitman Coin and Collectibles, November Baltimore Expo.

By Matt Quinn, Assistant Director of Currency


The upcoming rare currency auction next Thursday in Baltimore has been attracting considerable attention both online and during lot viewing in our California and New York offices. For those attending the show, lot viewing will start in Baltimore on Monday, November 4th at 2:00 PM in Room 303 of the Baltimore Convention Center. Viewing will continue throughout the week as bidders prepare for the sale. The auction will commence on Thursday night at 5:00 PM, leading with an impressive historical section of Colonial, Obsolete and Private Scrip and then continuing on to federally issued bank notes. Online bidding has been escalating in these days leading up to the sale and we will expect a full room of bidders when the first lot crosses the block. If there are any questions regarding the upcoming currency sale please contact one of us from the currency department for assistance.

Here’s how to contact us. We are looking forward to hearing from you!

Peter Treglia, Director of Currency, call 800-458-4646, extension 250, or email ptreglia@stacksbowers.com

Matt Quinn, Assistant Director of Currency, call 800-458-4646, extension 279 or email mquinn@stacksbowers.com

Bruce Roland Hagen, Senior Numismatist and Consignment Director, call 800-458-4646, extension 5462 or email bhagen@stacksbowers.com

Upcoming Events: The Whitman Coin and Collectibles Expo and Auction

Stack’s Bowers is set to kick off the month of November with our exciting official auction of the Whitman Coin and Collectibles Expo, next week in Baltimore, Maryland. Already many of you have viewed the lots in person, in our California or New York offices. If not, there is still plenty of time to view the sale next week at the Baltimore Convention Center beginning Monday, November 4 at 2:00 pm EST.  There are eight live auction sessions next week and three Internet-only sessions that close the following week.  The red carpet will be rolled out for you if you can join us in Baltimore to participate in what will be a long remembered auction.

While in Baltimore, don’t forget to stop by to see us on the bourse floor at Tables 453-454. We will be featuring upcoming auction highlights and coins available for direct sale. Our February 2014 Americana auction consignment deadline is just around the corner and our consignment directors will be on hand and ready to answer all of your consignment questions. Don’t forget to inquire about two special offers we have for our consignors. The first is our November Grading Event! Bring us your U.S. and world coins and you will get FREE PCGS grading when you consign them to our February Americana auction or April Hong Kong auction. Our second is a special cash advance for new consignors -- you can enjoy up to 80% of your consignment value advanced, up to $10 million, at an unprecedented low 1.9% annual interest rate, if you consign to our February Americana auction.

We hope to see you next week!  

United States Coin of the Week: Superb Gem Proof 1910 Saint-Gaudens Indian Eagle Glitters in Upcoming November Baltimore Auction

By Frank Van Valen, Numismatist and Cataloger, U.S. Coins. Based on the lot description by James Matthews, Senior Numismatist and Consignment Director, U.S. Coins

Ask any collector today about Augustus Saint-Gaudens and they will, more often than not, mention his classic MCMVII High Relief double eagle, recognized as perhaps America’s most beautiful coinage endeavor. While less familiar to some, the Saint-Gaudens Indian eagle design type of 1907 to 1933 is equally as beautiful as the double eagle design in the eyes of many of today’s collectors.

Indeed, one of many highlights in our rapidly approaching November Baltimore auction event is lot 2228, a glittering Gem Proof 1910 Indian eagle, as impressive as the day it first was struck. It is tied with one other Proof example of the date as finest certified by PCGS – you won’t find a finer specimen in a PCGS holder!

A somewhat sizable Proof mintage for the date of 204 Indian eagles was forthcoming from the Mint in 1910, though it is thought not all were sold. Add to that the attrition that naturally occurs over decades and the end result is a population for the date estimated today at just 50 to 75 or so pieces. Struck in what is referred to as a Roman Finish, the surfaces are slightly smoother and more reflective than the Matte Proofs struck for other dates in the series.

Our lead cataloger on the lot, Jim Matthews, noted the coin bears a needle-sharp strike and lively rose-gold toning highlights among its many attributes. As with most Proof Indian eagles we’ve offered over the years, this lot will attract specialists eager to add this prize to their collections. A recent NGC-certified Proof-67 example of the date realized a resounding $149,760 in a competitor’s sale in September 2013. Early bidding activity leads us to believe that interest in this lot will be similar.

Whether you attend our Baltimore auction in person, bid by phone, on your computer, or send us your bid by U.S. Mail, one thing is plain – you won’t be alone when the bidding begins, so plan to bid accordingly. We look forward to seeing you in Baltimore!



World Coin of the Week: Canada Five Cents of Queen Victoria

By Chris Chatigny, Cataloger


A mere week remains before the opening sessions of our Stack’s Bowers and Ponterio official auction of the Whitman Coin and Collectibles Baltimore Expo. Among the exceptional Canadian coins to be offered is a Five Cent piece, 1875-H, from the reign of Queen Victoria. This key date piece is a desirable coin regardless of grade, yet this piece’s grade greatly elevates its value.

Queen Victoria remains to this day the longest reigning British monarch in history, and holds the record for longest reigning female monarch in history. Her reign saw the inclusion of India into the British Empire after the British East India Company dissolved, and she took the title “Empress of India” in 1876. Victoria would have nine children, who would marry into various royal and noble families across Europe, and cause Victoria to be nicknamed “the Grandmother of Europe”.

Leonard Wyon’s engraving of a young Queen Victoria graces the obverse of this coin. She is depicted with a very youthful appearance, bust left, with a laurel wreath crown and her hair tied up in a bun. The inscription enumerates her regnal title: “VICTORIA DEI GRATIA REGINA.” with “CANADA” appearing below the bust. The titles read as Victoria, by the Grace of God, Queen”. The reverse design depicts the value of “5 – Cents” in the center, above the date of 1875, surrounded by a wreath. The wreath consists of two branches joined at the bottom with a bow, with a crown at the top. Below the wreath appears the mintmark “H” which represents the Heaton mint in Birmingham. There are two varieties for this type and date, and this coin is of the Small date variety, evidenced by the smaller upper band on the numeral 5.

The coin has excellent eye appeal, with very nice crisp details visible and subtle gray patina transitioning nicely with the reflective surfaces. This stellar piece received a grade of Mint State 63 from PCGS, and shares this grade with only four other coins, with four coins graded higher. The combination of a key date variety with such a high grade ensures that this coin will command spirited bidding once it reaches the auction block.


Pre-bidding has just begun for this Queen Victoria Five Cents, so be sure to head over to its Auction Lot listing and place your bids! Preview this impressive coin along with the rest of our auction this October 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. While our Stack’s Bowers and Ponterio November Baltimore sale is closed for further consignments, we are currently taking consignments of world and ancient coins for our January New York International, and April 2014 Hong Kong sales. If you are interested in consigning your coins and paper currency (whether a whole collection or a single rarity) be sure to contact one of our consignment directors.

From the Desk of Q. David Bowers: This and That

Written by Q. David Bowers, Chairman Emeritus

Welcome to my latest weekly e-column, a collection of clippings, comments, things that amuse me, numismatic comments, and more. You can contact me at qdbarchive@metrocast.net.

Enjoy your week!
The lower price of gold, good news! As to the price of gold, what happens next month or next year is anybody’s guess. Recent news has it that Russia, a key buyer in the bullion market, has started selling in quantity. Other accounts have it that as the economy appears to be getting better, holding gold as a precaution against financial woes is not as important as it was a year ago. On the other hand, I can’t blame citizens of Greece, Spain, Italy, and other countries with unstable currencies desiring to have a hoard of bullion coins.

The good news for numismatists is that common-date gold coins that are priced in step with bullion—such as Liberty Head and Saint-Gaudens double eagles—are much more affordable to collect now. If you enjoy collecting and also like gold, why not consider collecting as many different $20 coins as you can that are priced in MS-63 grade for only a small advance over the bullion price? This involves dozens of dates and mintmarks. What a nice display this will make!
 Round and around we go. A study by the Department of Transportation, recently reported in The Economist, stated that replacing crossroads with roundabouts (rotaries or traffic circles) leads to a 35% fall in crashes, a 76% fall in injuries, and a 90% fall in deaths.
 Chuck of The Little Mint, a coin dealership in Reedsport, Oregon, sent me the other day notice BM-28 dated April 1963, titled “Cleaning Coins.” It said the following:

“There are many questions regarding the cleaning of coins. There is no way by which the newly-minted luster can be completely restored, once tarnishing has become severe. If the coins are in reasonably good condition, they may be cleaned by rubbing them with cheesecloth or cotton, which has been moistened with a paste consisting of baking soda and a few drops of water.

“Silver coins may also be cleaned with any good commercial silver polish. One-cent and five-cent pieces can be cleaned nicely with any good commercial metal polish. Usually the soda paste cleans the coins well. The use of acids, caustics and harsh abrasives, is not recommended.”
 Civil War tokens are front row center in activity these days, and I like to think that my new Whitman Guide Book of Civil War Tokens is partly responsible. The latest word from the publishers is that it is selling very well. If you’d like a copy check your favorite bookseller or the Whitman website. It has over a thousand color pictures, is several hundred pages in length, is on fine paper, but lists for only $24.95—a low price made possible by a large press run. Otherwise you might expect to pay $50 or more.
 The Whitman Coins & Collectibles Expo is where I will be on November 7 and 8. If you plan to attend, be sure to track me down and say hi. This is always one of the top shows of the year. Our auction is front row center there, what with rarities galore plus many very affordable “collector coins” as some call them.
The Colonial Coin Collectors Club (C4) has its yearly meeting / conference on Friday at the show. That evening our auction will feature many important colonial coins starting off with David M. Sundman’s spectacular collection of New England silver coinage. Some of the coins have pedigrees dating back to the 19th century, and all are among the finest of their kind.
 The new $100 bill, officially released on October 8, attracted a great amount of attention in the media. I was interviewed by several writers who were interested in my reaction, particularly from the aspect of collecting. A common question was and is this:

“With other countries putting out colorful designs, different people, and constantly changing currency, why does the $100 bill stay more or less the same?”

The answer is that ever since they were first issued in 1929, the small-size $100 notes have featured Ben Franklin and have had common characteristics. There have not been many changes except for signatures. Over a long period of time, up to recently, these have been the world standard for easily convertible money. A $100 bill can be spent in Hong Kong, Singapore, Zurich, Buenos Aires or, probably, on Pitcairn Island. Bankers and merchants all over the world have learned to recognize them and, in many instances, to detect counterfeits. If new motifs were regularly issued -- a butterfly, Elvis Presley, John Kennedy, Yellowstone Park, or whatever -- this would be very confusing to users all over the globe who would have no idea whether an unusual appearing bill was the latest issue or whether it was genuine.

That said, the October 8 changes will probably remain in effect for many years. They are strictly based on security, to prevent counterfeiting by use of photographic and computer copies. These will become well known worldwide and will also be a recognizable standard.

See you next week!

Test Your Knowledge: Name That Person!

Put your numismatic knowledge to the test and see if you can name that person! 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!

Friday, October 25, 2013

Special Hardcover Ford Collection Catalogs for Sale!


Stack’s Bowers Galleries
Ford Collection Hardbound Catalogs 
With Prices Realized

Buy Yours Today!
$150 for 3-volume Set or $75 Each



These beautiful red hardbound catalogs include the complete auction listings and prices realized for the three most recent sales of the John J. Ford, Jr. Collection. These sales were part of the Stack’s Bowers Galleries official auctions of the 2013 ANA World’s Fair of Money and 2013 Whitman Coin & Collectibles Philadelphia Expo. They continue the longstanding tradition of hardbound Ford Collection auction catalogs and are important references. Whether you have collected the entire set or you are just starting your collection now, these are essential works for any library of numismatic American history.  

The JOHN J. FORD, Jr. COLLECTION ofCOINS, MEDALS AND CURRENCYAugust and September 2013 PART XXIIAmerican Paper CurrencyColonial and Continental CurrencyObsolete Currency and Proofs
Confederate and Southern States Currency
United States Fractional Currency

PART XXIIITokens of Canada
Medals of Marquis de Lafayette and Benjamin Franklin
Civil War Tokens and Sutler Cards
American Countermarks
Early American, Hard Times, Merchant and Trade Tokens
Indian Trader, Military and Territorial Tokens
Balance Scales

PART XXIVWestern Paper Americana
Private and Territorial Pattern Coins
Medals of Marquis de Lafayette and Benjamin Franklin
American Political Medals
Balance Scales

Quantities are limited – call today to order!

949.253.0916

Thursday, October 24, 2013

Get CASH for Your Consignment!


800.458.4646 West Coast Office • 800.566.2580 East Coast Office

Upcoming Events: Get FREE PCGS Grading When You Consign at Our November Grading Event!


Bring your U.S. and world coins to Stack’s Bowers Galleries’ Irvine, California, corporate headquarters during this PCGS grading event:
  • They will be pre-screened by our numismatic experts to determine grading worthiness.
  • Raw coins and coins submitted for re–grading are all welcome.
  • We will submit qualifying coins to PCGS for expedited grading – 24 to 48–hour turnaround.
  • Consign any of your newly PCGS–graded coins valued at $1,000 or more to our February Americana or April Hong Kong auctions and we’ll pay the grading fees – a potential savings of hundreds of dollars!*

If you can’t make it to Irvine during the grading event, bring your submission to your nearest Stack’s Bowers Galleries location by November 19:
Stack’s Bowers Galleries Irvine | 1063 McGaw Ave, Ste 100, Irvine, CA 92614 | 949.253.0916
Stack’s Bowers Galleries New York | 123 W. 57th St., New York, NY | 212.582.2580
Stack’s Bowers Galleries New Hampshire | 603.569.0823
Stack’s Bowers Galleries Hong Kong | Unit 1702, 17/F, Dina House, Ruttonjee Centre, Central, Hong Kong | +852 2117 1191
Stack’s Bowers Galleries Paris | +33 6 14 32 3177

Or drop by the Stack's Bowers Galleries table at the following coin show:
Whitman Baltimore Expo | Baltimore Convention Center, One West Pratt Street, Baltimore, MD 21201| November 7-10, 2013
We'll bring them back to Irvine for PCGS grading during our event, then consign them to the Stack's Bowers Galleries February Americana or April Hong Kong auctions or return to you, per your preference.

*U.S. & World Coin Grading Charges for the Stack's Bowers Galleries PCGS Grading Event
Estimated Value
Per Individual Coin
Cost When
Consigned
Cost When
Returned

Standard PCGS Rate**
Less than $20,000FREE$30$55 / $65
$20,000 to $100,000FREE$80$110 / $125
Greater than $100,000FREE$150 + 1%$250 + 1%
*If valued at $1,000+**Regular / Secure
Call Today to Schedule Your Appointment
800.458.4646 West Coast
800.566.2580 East Coast
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United States Paper Money of the Week: Rare Nevada Notes to be offered in the November 2013 Official Currency Auction of the Whitman Coin and Collectibles Baltimore Expo

By Matt Quinn, Assistant Director of Currency


The upcoming November Currency auction will include a significant octet of rare Nevada National bank notes. The offering includes coveted towns such as Eureka, Ely and Winnemucca with the later being offered in both large and small size types. National bank notes from the “Battle Born” state are always a rare sight in public auctions, with only limited appearances each year for even the most well represented charters. The quality and scarcity of this fine grouping will certainly not disappoint.

The first offered Thursday evening will be lot 1552 from the First National Bank of Elko, a 1929 $20 small size note in a pleasing PMG Very Fine 25 grade. The last to sell publicly was a small $10 note in a 2008 sale that brought $16,100. A significant Ely Nevada 1902 Plain Back follows as the next lot, 1553. This lightly circulated PMG graded About Uncirculated 50 note will certainly impress, as the inks remain vivid and circulation is subtle. It is one of only 13 known large size for the charter. The popular town of Eureka is represented next in the form of a 1929 $10 Small Note in a solid Very Fine grade. This is the finest to be offered in several years from the Farmers and Merchants National Bank.

Lot 1555 will offer the scarcest small size Nevada note in the octet; this charter has not been offered publicly since 2005. The note is from the McGill National Bank and displays a single digit serial number, “A000003.” Large and small size Reno notes from the Farmers and Merchants National Bank and First National Bank respectively, are next to be offered, and these are always in high demand. Lastly two Winnemucca Nationals wrap up the Nevada selection and include a prized large size note in PMG Choice Fine 15. The note is one of only 11 known large notes on the charter and should prove quite popular with bidders; a newly discovered piece of the same type and grade brought $25,200 in an April 2013 public auction. Offered next is a PMG Choice Uncirculated 64 note from Winnemucca that comes from a small group of high grade examples in the serial range of F001214A to F001235A.


Altogether this is one of the more important groupings of National bank notes from Nevada to be offered publicly in several years. The notes from this state are difficult to find and always tightly held by collectors. This selection will certainly be carefully watched by bidders and we anticipate spirited bidding before the hammer falls.

United States Coin of the Week: Stack’s Bowers Galleries is Pleased to Present the George Gardner Collection

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

As part of our official auction of the Whitman Coin & Collectibles Baltimore Expo this November, Stack’s Bowers Galleries will be offering the George D. Gardner Collection of Walking Liberty half dollars. Our sale will be held November 6-8 at the Baltimore Convention Center, located in Baltimore’s Inner Harbor area. The Gardner Collection was formed over many years and includes many high grade examples, the result of ongoing upgrading of the collection by Mr. Gardner.

George D. Gardner was born on February 22, 1936, and was named after the first U.S. president, whose birthday he shares. He passed away in May 2012. He was brought up through tough times just after the Great Depression and inherited a frugal nature. George was well disciplined and motivated, which he attributed to the strict discipline he encountered at Catholic boarding school. At an early age he and his two brothers, Art and Mike, began collecting coins from pocket change. George enlisted in the U.S. Armed Forces in the spring of 1954 and went on to achieve the rank of captain. Though he was due for promotion to major, a jeep accident left him with a broken leg and led to his honorable discharge from the U.S. Army in 1974.  His recovery offered an opportunity to persist in his coin and stamp collecting activities. He also encouraged his sons’ endeavors in collecting coins.

George spent almost 20 years as an accountant, building his CPA firm up to a team of six employees. In 1990, financial and personal hardship struck George, though his coin collection miraculously survived those difficult years. In 1992, he opened an automotive repair shop and grew it into a prosperous business, which provided the capital needed to advance his Walking Liberty half dollar collection. He found pleasure in searching for higher grade coins to improve the set, but never sold any of the coins he acquired; those he replaced simply formed lower grade sub-sets. He was extremely creative when it came to finding hiding places for his coins, including attics, hidden compartments in desks, air conditioning vents, and hand-dug holes in his backyard. His sons now believe that the entire collection has been discovered. After their father’s passing, they even received a request to donate Mr. Gardner’s Walking Liberty half dollar collection to the Smithsonian as some of the pieces in the collection are of higher grade than those on display there!


Highlights of the George Gardner Collection of Walking Liberty half dollars include lot 2077, a 1916-D graded MS-67 by NGC; lot 2081, a 1917-S, Obverse Mintmark, graded MS-66 by NGC; and lot 2085, a 1919-S graded MS-65 by PCGS. Among dates in the 1920s will be found lot 2090, a 1921 graded by PCGS as MS-65; lot 2091, a 1921-D graded by NGC as MS-66; lot 2095, a 1923-S graded by PCGS as MS-66 with a green CAC sticker; and lot 2097, a 1927-S graded by PCGS as MS-66. There are many other incredible half dollars offered as well. Visit our website at www.stacksbowers.com to view the Gardner Collection coins and the rest of our November Baltimore auction. Lot viewing will be available in our New York City offices (by appointment only) beginning October 28, 2013. Please call 800-566-2580 for more information. The entire sale will be available for viewing at the Baltimore Convention Center beginning on November 4.

World Coin of the Week: Persia’s Achaemenidae Gold Daric

By Chris Chatigny, Cataloger

The mighty Persian Empire, fathered by Cyrus the Great, adversary of the Greek city-states and shattered by Alexander the Great, provides an exceptional gold Daric for our upcoming November Baltimore auction. The royal dynasty that ruled the empire was known as the Achaemenids, derived from their legendary founder Achaemenes. This vast empire would control portions of Thrace and Macedonia to the Indus Valley, and parts of Egypt, Central Asia and the Arabian Peninsula. Some notable achievements of the empire include a postal system, roads, and the use of an official language. Despite these advancements, the central government eventually lost control of the local governments, who openly rebelled on numerous occasions. The empire was in a disorganized state by the time Alexander the Great of Macedon invaded. Alexander attempted to integrate himself as an Achaemenidae ruler, but died just a few years later. Seleucus inherited the Asian portions of Alexander’s realm, with the Seleucid Empire continuing the Achaemenidae Empire.

Coinage created in the Persian Empire was almost exclusively used for trade with the Greeks, and not for inter-imperial trade. The Persians maintained a system of direct exchange or contribution of services and natural goods. As such, coins were scarcely needed as a bartering tool. Most of the Persian Empire’s coinage was produced at Sardes, at the far western edge of the empire, as it was in close proximity to the Greeks. The gold pieces produced at Sardes for the Persians became known as Darics after their “inventor” Dareios. These pieces would be used to pay for Greek mercenaries. The gold Darics depicting the “Great King” of Persia would become nearly as famous throughout the Mediterranean world as the well-known Athenian Tetradrachms.

The coin’s design features the Persian Great King in a kneeling-running stance facing right. The bearded and mural crowned king holds in his right hand a spear with the tip pointed down and in his left hand, a bow. The reverse is an incuse punch design, iconic for the type. The coin is well centered, with the entire obverse design present. This coin was struck sometime during the reigns of Xerxes II, Sogdianus, Darius II, or Artaxerxes II (ca. 420 – 375 B.C.). This gold piece is truly impressive and is one of the many intriguing ancient numismatic pieces in our upcoming November Baltimore auction.

Look for this and other Ancient numismatic rarities in our upcoming November Baltimore Sale. Preview this impressive coin along with the rest of our auction this October. 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. While our Stack’s Bowers and Ponterio November Baltimore sale is closed for further consignments, we are currently taking consignments of world and ancient coins for our January New York International, and April 2014 Hong Kong sales. If you are interested in consigning your coins and paper currency (whether a whole collection or a single rarity) be sure to contact one of our consignment directors.


Remember When: Winner F. Delp

By Harvey G. Stack, Senior Numismatic Consultant

If you ever attended a live public auction then you will understand the excitement that is in the room, the bidding fever, the competition between two or more buyers and the audience response when the unusual occurs. This can be a new record price, the anticipation of an upcoming lot, the calling out of bids to try to discourage opposition, and the loud chatter that builds along with the excitement. It becomes a show with no script and the actors are the auctioneer and the bidders, the people sitting beside you, in front or back of you and those standing in a corner so not to be observed.

One recent weekend I was reviewing a group of Stack’s public auction catalogs from the early 1970s. I came across the name, Winner F. Delp -- Stack's conducted the sale of his collection in November 1972. Winner was a personal friend of the Stack family and I had the privilege of helping him build his noteworthy collection.  He started collecting just before in went into service in World War II in 1942 and returned to numismatics upon his return home in 1947.

Mr. Delp loved well struck specimens, lovely iridescent toning and very attractive examples.  How was he able to acquire so many choice and gem examples?  It is a matter of timing and history. Many early collections were started in the 1920s and suddenly stopped being developed during the four years of World War II.  Major collectors were drafted into service and were busy fighting a war; they had no time for collecting.   However, there were old timers from the 1920s through the early 1940s who unfortunately passed away or lost interest.  For this reason, collectors of the period had an unusual selection to choose from, and they of course collected the best they could find.  The dealers of the period had huge inventories acquired during the 1920s through the end of the War, increasing the choices for collectors.

Some of the great pedigree names we know today came from the inventories assembled and accumulated during this period.  For a dealer to have a dozen or even a roll or two of a given date on hand gave the collector a wide choice. So in collections formed from the 1940s to the mid 1970s one could find outstanding pieces, sometimes in abundance.

As I read the Delp catalog, which was a great collection for the 1970s and an outstanding collection in today’s terms, the list of prior owners was amazing. To give you an idea  of the pedigrees found in this one collection the pedigrees included:  the Randall Hoard, T.K. Harvin, John J. Pittman, Sam Wolfson, Grant Pierce, Charles Jay, Massachusetts Historical Society, Fairbanks, Woodin, F.C.C. Boyd, King Farouk, R.L. Miles , Jr., Maurice Bauman, Calvin Emmons, Alto, Gaston DiBello, Jerome Kern, George Walton, James Dines, and many more. These names became legendary after their collections were sold, and are repeated with pride in the pedigrees listed in many outstanding collections being offered today.

That's is how the value of pedigree grows. Old name collections of yesteryear, known for the quality of the items, become well known as they are noted in the catalogs later offering the pieces for sale.  As collections were sold and the coins moved to later collections, the pedigrees are expanded to reflect the collectors who have appreciated the pieces in the past.

If you are a student and understand the value of pedigree, you appreciate the ownership of a "known coin of the past" and cherish it because it did survive. That was the approach of Winner F. Delp -- to gather together specimens that were cherished by others before him and add them to his.  He did what every noteworthy collector did: he found a coin, examined it, studied it, developed a liking for it, and with pride added it to his collection.

It might have been easier in the mid 20th century to find such examples but the prize is always worth the chase.  Today, it is harder to accomplish what earlier collectors were able to do in the mid 20th century, but the reward for finding and owning these pedigreed coins is the pride of possession!

Over eight decades Stack’s and Stack’s Bowers have dedicated themselves to working with the collector, learning what his goals are, helping him find and acquire the famous “coins of the past” and form an outstanding collection. Often we are then honored and privileged to present the collections formed in a specialized catalog to permanently commemorate the endeavors of the collector.

I hope you have enjoyed reading this,

Harvey G. Stack


From the Desk of Q. David Bowers: Idea of the Week!

Written by Q. David Bowers, Chairman Emeritus

Over a given week or two I get many emails regarding numismatic history, research, and the like. Increasingly, more clients as well as others are going beyond looking at the date, grade and price of a coin and are seeking to learn more about it. To me, this is great news, as nearly all United States coins have a story to tell. One of my favorite suggestions for anyone starting is to spend a couple hundred dollars or so for a Carson City Morgan dollar of the early 1880s. These have low mintages, are beautiful to behold and the story of the Carson City Mint -- easily enough found on the Internet or by looking through some of our old catalogs -- is absolutely fascinating. As has been said, such a coin is like holding history in your hands.

Back to my idea of the week: If history interests you, a good place to start is to take a recent copy of A Guide Book of United States Coins and read the introductory material, the narrative preceding the colonial series. Probably nowhere else in numismatics has so much information been packed into such a small space!

I do not expect you to remember it all, but reading from end to end will give you a nice narrative on a time line. Later, you can check back and reread any items of interest.

A number of years ago I proposed to Whitman that a Specialized Catalog of United States Coins be created. Ken Bressett, editor of the Guide Book and I discussed this. To me there would be room for such a book, following the success of Walter Breen’s Complete Encyclopedia of U.S. and Colonial Coins published by Doubleday in 1988. We sold 10,000 copies of this book in the first year it was released! Times have changed since then, and with a lot of free information on the Internet I am not sure if this many would be sold of a new book. However, I certainly can envision a fine reception.


In the meantime, check out the early pages in the Guide Book and enjoy what you read. 

See you next week,

Q. David Bowers

Test Your Knowledge: Name That Coin!

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.

Did You Know???

Did you know that Stack’s Bowers is offering new consignors cash advances up to 80% of your consignment value and up to $10 million at an unprecedented lot 1.9% annual interest rate when you consign to our February New York auction? Call 800-458-4646 for details! 

Thursday, October 17, 2013

Upcoming Events: Stack’s Bowers Galleries Welcomes You to Our Auction of the David M. Sundman Collection and Other Important Properties With the Whitman Coin & Collectibles Expo

Written by Brian Kendrella, President and Q. David Bowers, Chairman Emeritus


A Great Convention

The entire Stack’s Bowers Galleries staff invites you to be a part of one of the most dynamic conventions of the year, and to participate in what will be a long-remembered auction.

The venue is the Whitman Coin & Collectibles Expo at the Baltimore Convention Center. Year in and year out, this has been a favorite show for collectors and dealers alike. Draw a 400-mile circle around Baltimore and you include, perhaps, 60 percent of the active numismatists in America. As such, it is a pleasant drive or a scenic ride on Amtrak. The Baltimore-Washington International Airport beckons if you are coming from a longer distance — a modern facility with a minimum of delays and red tape.

In a survey taken of dealers a few years ago, Baltimore was overwhelmingly picked as the most popular convention city. If you and your family want to spend a very nice several days, we’ll see you there! Alternatively, you can “attend” in real time on your computer if you live in Zurich, Boise, Dallas, or wherever. There are multiple elements to our auction, including U.S. coins and related numismatics as featured in this catalog, as well as additional catalogs that feature U.S. currency as well as ancient and world coins and paper money.
A Great Sale
Highlighted by The David M. Sundman Collection of Massachusetts Silver Coins, our sale will be one of the finest of our era. The Sundman Collection features prime rarities, some pedigreed back to the 19th century, in the NE (New England), Willow Tree, Oak Tree, and Pine Tree series. It was a pleasure working with the other numismatic experts at Stack's Bowers Galleries and with Dave Sundman to present these — including some commentary you may find interesting about the numismatic tradition of that series.
Session 1 begins at 6 p.m. on Wednesday, November 6. Food and beverages will be served to registered bidders. Varied numismatic Americana start the sale, followed by denominations in order from half cents to half dollars, 719 lots in all. Included will be coins in all grades and price ranges, from popular and affordable, to scarce and rare.
Session 2, United States currency, commences on Thursday, November 7, at 5 p.m., and is featured in a separate catalog.
Session 3, Rarities Night, starts on Thursday at 6 p.m. The Just Having Fun Collection of Shield Nickels is complete from 1866 to 1883, with ultra-grade Proofs (including the legendary 1867 With Rays) plus, remarkably, Gem Mint State coins, some of which are far rarer than Proofs. The George Gardner Collection of Walking Liberty Half Dollars offers exceptional specimens in this beautiful series. All eyes will be facing forward when a spectacular Gem Proof 1893-CC Morgan silver dollar is offered. It may be years, if ever, before an equivalent coin is available. Early silver coins of various denominations, including notable silver dollars, are of commanding importance and are followed by Capped Bust, Liberty Seated, and later series. Quarter eagles include three of the most famous rarities of the denomination — one of the finest of the 1854-S and marvelous Gem Proofs of 1863 and 1875. An 1881 Proof set complete from the Indian cent to the double eagle, 14 pieces, will long be remembered. An 1895 Proof set of minor and silver coins includes the highly important Proof-only Morgan dollar. Panama-Pacific $50 gold coins in octagonal and round formats will draw wide attention as well.
Session 4, continuing American coins from silver dollars to gold plus commemoratives, patterns, and other series, begins at 10 a.m. on Friday, November 8. Morgan silver dollars, for example, include most of the varieties needed to complete a collection. Building a type set of United States gold? You’ve come to the right place. Commemoratives of the classic era from 1892 to 1954 also include many Choice and Gem varieties.
C4 and Session 5
Session 5 at 6 p.m. on Friday showcases The Sundman Collection, The Moore Collection and other important properties, and is dedicated to The Colonial Coin Collectors Club (C4). Founded in 1993, the club comprises collectors, dealers, and scholars in this field. The annual convention of C4 is earlier in the day, and you are cordially invited to attend. This is one of the finest specialties in numismatics and is very enjoyable to pursue. We suggest you visit the C4 website, colonialcoins.org, and do some exploring. You will find an overview of colonial coins, ideas on how to collect them, resources you can tap, and more. This is a very dynamic group and well worth joining. The C4 Newsletter, edited by Syd Martin, is one of the finest publications in numismatics.
Our post-Expo Internet offerings will be of interest also, and will include many worthwhile coins.
How to Be a Winning Bidder!
There are several easy ways to bid in our Baltimore sale. First, the red carpet will be out for you if you come to the Whitman Coin & Collectibles Expo. Attending our sale should be your first priority of course, but you will enjoy a bourse with hundreds of dealers and the opportunity to meet and greet other collectors and dealers.
Alternatively, you can participate on the Internet, on the telephone (by advance arrangement), or by sending your bids by mail. The secret that is quickly spreading to common knowledge is that our cutting-edge live auction software enables you to attend our sale, in a way, from the comfort of your favorite chair in your living room, or from your office. On your screen you will see our auctioneer in action, hear every word of commentary, and watch the progression of bids. See something you like? Just click “Bid” on your screen, and you are competing live in the auction gallery. The experience is exciting!
Today, most of our buyers bid this way! Countless thousands of clients follow the action via the Internet in this manner.
Study our lot descriptions carefully and view the professionally photographed images. Contemplate the coins in your specialties, then consider some new areas. Collecting is a dynamic, ever-changing adventure, and discovering new things to collect is part of the enjoyment.
Thinking of Selling?
We invite you to take advantage of the excitement and enthusiasm and be a part of our dynamic 2014 auction schedule! Upcoming sales include our January New York International Numismatic Convention (NYINC) auction — a prestigious event dedicated to the needs of world and ancient collectors — held at the historical Waldorf Astoria Hotel. Following NYINC is our February 2014 Americana Sale, which has already garnered several important consignments. The sale will be held in our own New York auction gallery at 110 West 57th Street, with a special Rarities Night Auction held in the penthouse of the Le Parker Méridian Hotel. You may also want to consider participating in our spring, summer and winter Whitman Coin & Collectibles Baltimore Expos, where we will serve as official auctioneer of all three coin and currency shows. World and Asian numismatic collectors will not want to miss our April and August 2014 Hong Kong Auctions, which draw leading specialists and collectors from around the globe.
Consignors have numerous options when selling coins and paper money in the New Year, but only one choice when it comes to having your consignments handled by a firm with the longest standing record of success in numismatics, Stack’s Bowers Galleries. Contact us today at 800-458-4646 (West Coast) or 800-566-2580 (East Coast) to ensure your rarities are part of our prosperous 2014 auctions.
On behalf of all of us at Stack’s Bowers Galleries, we appreciate your review of our November 2013 Official Auction of the Whitman Coin & Collectibles Baltimore Expo. It promises to be a grand event, and we look forward to you being a part of it.
Sincerely,
Brian Kendrella
President

Q. David Bowers

Chairman Emeritus