From the Desk of Chris Karstedt, Executive Vice President

Dear all,

We've had quite a month of numismatic activity! In fact, in terms of sales volume it is completely unprecedented in the history of our company, going back to Stack’s first sale in 1935. Starting with the PRE-ANA/PNG show, followed by the ANA World's Fair of Money, Hong Kong, Long Beach (where we were represented, but did not have an auction), and now the Whitman Coins & Collectibles Expo in Philadelphia, some of us are feeling a bit road weary. Understandably so! However, we all enjoy what we do, so we are still smiling.

Philadelphia, our most recent stop, was pleasant, but a bit low key after the ANA event. The convention was a very doable three days, dealers loved the surrounding area and the special attention paid them by the Whitman folks who hosted the event. The Whitman crew works very hard in making things just right for all involved....even when it comes to lending some duct tape and power strips for our overflowing lot viewing. Special thanks to Lori Hamrick of Whitman who went beyond the call of duty to assist us in many areas.

Business on the bourse floor was driven by the bullion markets. Rarities, collector coins and dealer inventory still traded but not at the brisk pace of the metal markets. Dealer to dealer sales were good.

Our Americana sale upheld its tradition and brought thousands of numismatic items from all series to bidders all over the world. Internet participation was heavy and in person attendance at the sale was average. This speaks to the ever increasing trend whereby bidders come to view the material in our offices in California, New York City or on site and then participate from the comfort of their homes or offices via our SBG Live connection. Even at the sale venue it is not unusual for someone to spend a day viewing lots and then bid on line from his or her hotel room, while relaxing and perhaps sipping a glass of wine. Participating in a Stack’s Bowers Galleries auction is now easier than ever! When all was said and done over $4.5 million was sold. Prices realized are now posted on our website for your review.

As you read these words we are soliciting final consignments to our November auction, the official auction of the Whitman Coin Expo in Baltimore November 16-19, so call on us before the end of September. The sooner the better! We want to serve you and your consignment in a deluxe manner—and this final call gives you a last minute opportunity. We stand read to assist in bringing your holdings to auction at top market prices.

Part I of The Teich Family Collection will be crossing the block as part of our November auction in Baltimore and it is sure to cause quite a stir. This old-time family cabinet has been in private vaults since the 1950s. I am still enthralled with the simple story of how this collection was started. In 1952, while on a family vacation with his wife and three sons, a single Indian Head penny carried by Dr. Teich fell to the ground in view of the owner of the hotel. The owner happened to be a numismatist, who then spent the next few hours sharing his collection with the family. This inadvertent catalyst awakened the collecting urge as Dr. Samuel and Beatrice Teich then sought to learn as much as possible about numismatics. After making initial purchases they contemplated building parallel collections to maximize their family’s participation. The parents bought four separate coin albums for several series and were joined in the fascination of coin collecting by their sons Morton, Stephen and Howard. I promise you'll be thrilled as this fresh material crosses the auction block providing purchase opportunities for today's collectors. I will have more details to share with you on this remarkable collection  in upcoming days.

Thanks to all who participated as a bidder or consignor to our recent sale. We appreciate your business and friendship!

All the best,

Christine Karstedt

Executive Vice President