From the Desk of Q. David Bowers: Looking Through the Rarities Night Catalog

By Q. David Bowers, Chairman Emeritus

As I write these words I am looking through the beautiful catalog for Rarities Night, conducted by Stack’s Bowers Galleries on the evening of March 22, in conjunction with the Whitman Coins and Collectibles Baltimore Expo. I am familiar with its contents, of course, as I was part of the team that helped create the catalog. However, it certainly is nice to see the catalog in its finished form – rather than in page proofs.

Containing 379 numbered lots, the presentation emphasizes the rarest of the rare – elusive items in American numismatics including some truly notable rarities.

The first lot out of the starting gate, 4001, is a Sommer Islands twopence, graded Fine by PCGS, but rather rough in appearance -- this being typical of these great rarities. The offered specimen is fresh to the market, having been recently discovered. Then comes a lovely Massachusetts Bay 1652 Pine Tree shilling, always a classic, followed by another of a different die variety. The silver coinage of John Chalmers, Annapolis silversmith, forms an interesting series in early American numismatics. Tradition has it that these pieces were made to help supply a need for small change. The motif on one side is particularly interesting as it shows two birds fighting over a worm. Then comes a particular favorite of mine, lot 4005, a 1776 New Hampshire copper that I had the privilege of cataloging 32 years ago in 1980 when it was part of the Garrett Collection sold through us by The Johns Hopkins University. We haven’t handled another one since, and perhaps once this is gone it will be another 30 years, if ever, until a similar offering takes place. An absolutely lovely Theatre at New York copper token comes next. If you are the successful bidder on this you can spend an hour reading of its history by checking through back issues of publications relating to colonial and early American coins.

Federal issues come next with a lovely 1859 Proof set, cent through dollar, nicely matched and believed to have been kept intact since the very year of issue. The coins are offered individually and will be ideal for specialists in given series or buyers who want to own something truly special. Next come other fantastic Proof sets, including 1888, 1890, 1894, 1900, 1905, and a partial set of 1912. High quality comes to the fore. Each piece is absolutely beautiful, with most having iridescent toning.

Half cents, a popular series, are represented by a selection of scarcities and rarities, after which large copper cents will be found, among which are three of the highly prized 1793 date, the classic and curious 1795 Jefferson Head, and two examples of the key 1799. Perhaps the most famous of all 19^th century rarities is the 1856 Flying Eagle cent, represented by two examples, one a choice Proof-64 and the other a bit more affordable, a very nice Proof-61. Attracting attention no doubt will be lot 4034, a dramatically off-center Flying Eagle cent. You will have to look long and hard to find one this nice. Indian cents follow including a remarkable 1893 with Doubled LIBERTY and two memorable 1877 cents, after which you will find an outstanding pair of 1955 Doubled Die Lincoln cents.

No doubt all bets will be off and the room will be up for grabs when lot 4042 crosses the block – a Gem Proof 1864 Small Motto two-cent piece, one of the very finest in existence. Take my word for it – here indeed is one of the finest opportunities you will ever see. The price paid is a consideration, but often today’s record figure turns out to be tomorrow’s bargain. That is the nice thing about numismatics, carefully formed collections and held over a period of years, often prove to be quite profitable to their owners. In fact, I can’t think of a single old time collection gathered by a connoisseur for which this isn’t true.

Among nickel five-cent pieces there are a number of attractions, with the 1916 Doubled Die Obverse being an attraction, seemingly very conservatively graded, but you can be the judge on that. A great “story coin” is the 1792 half disme, and offered in our Rarities Night sale is one of outstanding quality. Other half dimes range from early to late, ditto for dimes. The last denomination includes the famous 1859 Transitional, a memorable 1871-CC, and others. Quarter dollars are likewise memorable, with the quality being outstanding.

Half dollars begin with 1794, the first year of issue, and continue onward to include a nice selection of early Flowing Hair types, some truly choice Capped Bust pieces, and a remarkable 1839-O in Proof format. Among later issues a superb Gem 1901-S will be long remembered.

Silver dollars range from the Flowing Hair type, through the Draped Bust motif, Gobrecht issues (highlighted by the rare 1838 date), a seldom-seen Proof 1840, and other treasures – among which is a classic Proof-only 1858. For some Liberty Seated dollars high grade Mint State pieces are far rarer than high grade Proofs, and I call your attention to such pieces dated 1864, 1865, and 1867. Morgan silver dollars are the most widely collected 19^th century series, and deservedly so as it is possible to acquire choice Mint State pieces for low prices for the majority of the dates, although rarities cost more. I recently received word from Whitman Publishing Company to commence work on the fourth edition of my Official Red Book of Morgan Silver Dollars, which has been a bestseller. Watch for it! Among the Morgans offered are rare Mint State varieties and a nice selection of Proofs, after which will be found some Proof trade dollars of compelling interest.

Commemorative coins have great appeal as each one has a different story to tell. Our Rarities Night offers some interesting opportunities, including the classic $50 issues for the Panama-Pacific International Exposition in 1915.

Pattern coins, another of my favorites (you may have a copy of United States Pattern Coins, originated by Dr. J. Hewitt Judd, for which I have done much rewriting and have been the editor in recent times), are represented by a truly fantastic collection, including Gems from the collection of Dr. Samuel J. Berngard. The second item offered is an 1852 J-141 dollar struck in gold – a rarity deluxe. One of my favorite coins is the 1863 Transitional Indian cent pattern with L on the ribbon, as offered in lot 4182. Over the years I have only had a few of these. Silver quarters, half dollars, and dollars from 1863 to 1865 with the motto IN GOD WE TRUST on the reverse, transitional issues dated before adoption of the motto, have been popular for a long time, and are usually only seen on rare occasions. In our Rarities Night sale you have a choice to bid on several.

Lot 4190, a $3 piece from regular dies but struck on a nickel alloy planchet, is sufficiently rare that we probably will not offer another for many years. Only a handful of coins of this denomination exist in nickel metal. Among the more curious pattern coins are Proofs from regular dies struck in off metals, hardly ever in nickel as with the $3, but usually in copper, less often in aluminum. Our Rarities Night sale offers many fantastic rarities in this regard, my favorite being lot 4220, an 1875 gold dollar in aluminum. Trade dollar patterns are always interesting to contemplate, especially the earlier issues that were called Commercial dollars before the trade dollar nomenclature became standard. Check out lot 4213 for a nice example. Classics to the left, classics to the right, classics everywhere! How interesting the pattern section is. Another section of the rarest of the rare includes multiple issues of the 1877 pattern half dollar, one of the nicest offerings in recent times.

The scene shifts, and dramatically, to the California Gold Rush where with lot 4236 we see a beautiful 1851 Augustus Humbert $50 Octagonal “slug,” trademark of that famous epoch in California history, followed by some other territorial gold coins of compelling interest. There are not many 1883 Hawaiian eighth dollars around, but one of them can be found in the form of lot 4241 – a superb Gem no less.

Then begins our offering of gold coins in denomination and date order, beginning with gold dollars, including some of the nicest Gem Mint State and Proof pieces you are ever likely to see. Quarter eagles follow and are studded with rarities, as a quick flip through that section will reveal. Certainly there will be fireworks when lot 4266 crosses the block – a simply amazing coin. The 1841 quarter eagle has been the subject of study by David Hall (founder of PCGS) and other numismatists in recent times, and PCGS is issuing a report on the known varieties. In January at the FUN Convention, David Hall and a number of other numismatic scholars gathered on one side of our bourse table to have an hour-long technical conference with a group of 1841 quarter eagles spread out before us. A security guard was nearby. Called the “Little Princess” this has been a classic for a long time. Another classic is found in lot 4269, a coin for which a dozen pages could have been spent in our catalog. Again, if you are the purchaser and want to learn about its history there is a lot of good reading available. Other quarter eagles include Proofs and condition rarities.

Next are $3 pieces with rarities again, including Proofs, the famous 1876, and others.  Following these, a beautiful 1879 Flowing Hair Stella will attract attention, as will a companion piece in lesser grade, after which early half eagles take the stage and include many interesting pieces – desirable as design types or keys for the specialist. Lot 4321 is a famous Proof-only classic, the 1887 Philadelphia half eagle.  Although 87 were minted, we imagine that fewer than half that number exist today, or maybe even fewer than a third. Often a span of years will elapse between offerings. Other Proof half eagles as well as high grade Mint State pieces are important as well.

Eagles begin with 1795, an example of the first die combination of that year, and in wonderful MS-64 grade, no less! I expect that this will attract worldwide attention, as few pieces of comparable quality exist. Other early eagles are important as well, as are later rarities among which will be found a Gem Proof 1862, an 1884 Proof rarity, an elusive 1890 Proof, and several high grade Indian Head issues. Double eagles begin with the first year of issue, 1850, and continue strongly through later designs, including Proofs, Mint State pieces, Carson City issues, and more, going into the 20^th century. Many consider the most beautiful coin design to be the MCMVII (1907) double eagle by Augustus Saint-Gaudens. If you have been hoping to acquire one of these, we offer a nice selection of grades, mostly in the upper categories.

There you go – some thoughts concerning the Rarities Night sale. Check out the lots on the Internet, look at the enlarged illustrations, read the descriptions, and contemplate which pieces might be ideal in your collection.