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.
