By Harvey G. Stack, Senior Numismatic
Consultant
Almost from some seven decades
ago until today, I have met many collectors, authors, professionals of all
types, a president of the United States, a secretary of the Treasury, senators
and congressman, entertainers and other famous people who visited Stack’s, at
one time or another (or some as often as once a week).
I began my apprenticeship at
Stack’s while I was still in Public School, and was trained in numismatics by
two great teachers, my father, Morton, and my Uncle Joe. My job included
sweeping the shop, putting coins in envelopes, learning to grade, knowing rare
coins from common ones, cataloging and preparing auction catalogs or price lists,
and serving those who visited and tried to teach me numismatics. I had an
unique opportunity to develop skills, which I am still able to use today.
All the other Stacks -- Ben, Norman and Larry -- at different periods had the
same opportunity to develop and that helped make our entire numismatic business
a leader in the field.
The Stack family devoted their
business strictly to numismatics in 1933, and very quickly developed into an
outstanding rare coin shop. In 1936, during one of the Saturdays I had off
from school, I was working at our shop on 6th Avenue (currently called 'The
Avenue of the Americas”). I was amazed to see a large Rolls Royce, chauffeur
driven, stop in front of our shop. The chauffeur got out and quickly opened the
door where the passenger was sitting. The car had a very high ceiling, (had to
be custom built) and the passenger got out. He was a very tall man, about 6
feet 4 inches tall, and quite large (I learned later that he weighed close to
300 pounds). He was immaculately dressed, with a high hat on his head, and
walked with the help of a cane.
My seniors told me that Col.
E.H.R. Green was coming to visit. Col. Green, born as Edward Howland Robinson
Green, had a full size cork false leg, but walked upright and smartly. I
learned that he had his leg amputated after a severe infection when he was a
young man. He was the son of the famous woman financer, Hetty Green, probably
the richest lady in America (during her lifetime). She was so strict and
demanding that she had the title of “ the Witch of Wall Street.” She dressed in
very provincial black dresses, and frightened all who dealt with her. At the
time of her death in 1916 she was said to be worth well over $100 million and
probably much more -- those millions were like today’s billions.
Her son acquired the title of
Colonel by being on the staff of the governor of Texas in 1910 and kept the
title from that point on. He was a spendthrift, having inherited some 50% of
his mother's estate, and indulged in luxuries, including woman and partying and
various areas of collecting. He had a super world class stamp collection, which
competed in completeness and rarity with the famous royalty collections of the
period. He also loved gold coins, and he accumulated many early American coins,
especially U.S. $5 gold, 1795 - 1834, and $10 gold, 1795 to 1804, as well as
much of several full series of the dates that followed. He had stores of $20
gold, several collections of $1, $2.50 , $3 and $4 gold, besides a very large
holding of foreign gold coins. As the Gold Act of 1933-1934 exempted the rarities
of the gold series from being seized and melted, he was sure to have enough to
prove that his interest and holdings were many, including early dated coins,
and popular collectibles. (I could mention he wasn't the only one who collected
gold systematically to qualify as a holder of "rare and unusual," in
order to retain gold as part of his wealth.)
So this was the man who was
visiting our shop. My father and uncle greeted him, and when he saw me, he
asked "who this may be?" My father responded, "He is my son
Harvey who is here helping us out and trying to learn the numismatic
business." Col. Green shook my hand and said, "My boy, you are lucky
to have two teachers like your father and uncle. " "Now,"
he said, "what do you have for me to look at?" This was his usual
greeting and the family was prepared, as usual to serve him. Since Col. Green
visited our shop about twice a month, my family set aside new acquisitions and had
them displayed in large wooden trays, careful marked and priced to show him
what they had assembled.
Col. Green took out a large
magnifier and carefully examined each coin. He remarked on those that he thought
were beautiful and knew which might be rare and unusual. Whether they were
coins of the United States or the rest of the world, he knew about them and
commented as he examined the trays. That day there were five trays, each
containing 15 or 20 coins. He would count each early $5 and $10 gold, along
with the other coins. When he was through he would look up at my father and
uncle who were nearby and would ask, "How much do you want for all five
trays?" As this wasn't the first time he had visited, the Stack brothers
were prepared to quote a price for the lot. Col. Green, gave the group one more
quick look and said "I will take them all." He then turned to the
door and summoned in his driver, who came over, picked up the five trays,
carried them out of the shop and placed them in the trunk of the waiting Rolls
Royce. Col. Green got up, turned to me, said goodbye, then turned to my uncle
and father and repeated his “thank you and goodbyes,” and went directly to his
car, was helped in by his driver and off he went.
On the following Monday, shortly
after the shop opened for business Col. Green’s chauffeur returned with the
empty trays and a check for the purchase. The Stack brothers started again that
morning to assemble another group for a possible next sale. It was understood
that he visited stamp dealers, antique dealers and jewelers in a similar manner.
If he liked it he bought it. He also had a fetish for cars, all models and
makes, and enjoyed unusual models and designs. He loved to drive them as well,
and had them fitted in a special manner so he could drive using his one good
leg.
Col. Green, in collecting and
hoarding rare gold coins especially early $5 and $10 gold kept many from the
melting pot, for he had the funds to buy and hold them. He died in 1936, and the
Chase Bank in New York was his executor. Because there was a major lawsuit
between his wife (he married late in life) and his sister as to who should
benefit from his treasures, his coin collection and stamp collection were not
dispersed till the 1940s since there wasn't a buyer or group available to buy
the quantities he had assembled. For example, his $5 and $10 gold were first
marketed in 1943 and Stack’s bought them and little else. The cost was high at
the time, the market for buyers was small, and many of the coins had to be held
for years in order to sell them in orderly fashion. How Stack’s did this is
another story which included selling to King Farouk of Egypt, Clifford T.
Weihman, James Stack, Gaston DiBello, and J.J. Pittman to mention a few.
The lessons I learned from
meeting people and seeing how to deal with them guide me to this very day.
Colonel Green was a person one can never forget!
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