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Numismatic Collectibles Gain Attention
By Fred N. Holabird
The world of numismatics can be as exciting as any treasure discovery. The booty of coins and currency is a treasure-trove for any collector – whether they be a child or adult. The excitement of a discovery of a rare coin, or the ability to find and purchase a great rarity is exhilarating.
Numismatic collectibles are rarer still, with the discoveries no less exciting. The categories are as broad as the coin and currency fields, and each one ties directly and specifically to some area of coins and currency. Let’s look at a few of the most popular collecting fields.
Historical Precious Metal Ingots
Precious metal ingots continue to hit the top of the collectibility chart. Largely driven by the SS Central America treasure Gold ingots (from 1857) with more than 400 in collectors’ hands, these collectors and others are reaching out for more. The Ford sale in 2007 brought out more quality ingots at one time than had been seen previously. Since that time, pushed by the higher Spot metal prices, several dozen previously unknown ingots have surfaced from old collections within both the numismatic and mining fraternities. Original doré bars (an alloy of Gold and Silver as it came from the mine) from assayers and presentation bars handed down in families through the past century have come to light and are fiercely competed for in the national auction setting. The history behind these puts a face and sense of time to each, particularly because most are unique. Prices range from about $2,000 to under $100,000, except for the great SSCA bars, which are more.
Pioneer Minor Coinage
The market for tokens is coming back with the infusion of new collectors seeking numismatic items that don’t cost an arm and a leg. Saloons are by far the most collected, especially those from the American West, but other categories that have surfaced through the auction format have also garnered strong interest. Among these are the Indian Trader tokens, ghost town or mining camps (lately two major collections of Arizona and New Mexico have done very well), and a very rare area of numismatics, the “good-for” pocket mirrors. This was a rare form of money generally only used in saloons, often with a Victorian dance hall girl (saloon gal) in various forms of dress/undress good for “a drink” or for 12½¢ which was the price of a drink at the bar. The mirrors as a form of money are very rare and not usually seen at coin shows. There is still plenty of room for advances in this field, as collectors have not yet started collecting by condition. In fact, most pieces are so rare, you don’t get a chance at a better grade piece. Prices range from $10 to $10,000-$20,000 for the truly great pieces.
Gold Coin & Related Jewelry
This is a fascinating category. Most of the old jewelry that used traditional American Gold coins has already been dismantled and hit the coin market, repaired. But there is still quite a bit of stuff out there with the small denomination Gold coins and Gold tokens. Made and used in the nineteenth century, we are now seeing more collectors for this material who want it intact. An offshoot of this are the Gold Rush era Gold in quartz pieces of the 1850s that were so popular during and after the California Gold Rush. It reminds us that folks collect Gold – in all its forms – not just traditional coins. Prices range from about $300 to $10,000; more for world-class pieces.
Stock Certificates
Antiquarian stock certificates have been a collectible field unto themselves for decades. They also trade frequently among Paper Money dealers because they are, in fact, a form of Paper Money. The field is broad, and collectors are found for virtually every aspect of a stock certificate. Here’s a few of the most common methods of collecting: Subject matter: Mining, Railroads, and famous companies are the three most popular. Subcategories here are controlled by geographic collecting, since folks tend to collect specific geographic regions, such as Nevada or Colorado, or even American West and American East. Autographs: This is another major category. American financiers are the most hotly contested pieces, but this category is wide – it includes railroad, mining and political material. Art: Another popular field, many collect for the vignettes and overall visual appeal of a certificate. They are often quite colorful and beautifully engraved. Some collect by the engraving company, such as American Bank Note Company, a great crossover for currency collectors. Geography: Forget the other categories; these folks want everything in their specific geographic region, from New York to Georgia, or the American West – California to Colorado. They collect rails, mining, commerce, everything. Collectors of this material are also interested in date ranges from their favorite time periods, such as the Gold Rush, 1860s or other periods of discovery or intellectual development. Prices range from $10 to $10,000-$25,000 for the best.
Assay & Bullion Receipts
This area of collecting directly connects the mine to the coin. It is an historic record of a transaction from mine or merchant to an assayer or the Mint, showing the metal produced and the fineness. These also go along well with precious metal ingots. They are so popular that a major archive of Kellogg & Humbert assay receipts that match the Gold ingots from the SS Central America has been completely distributed and is now into the secondary and tertiary market. Prices range from about $100 to $10,000.
Treasure Coins
The American public continues to be fascinated by the concept of “buried treasure.” With discoveries like the SS Central America and Republic within our own American waters or soil, treasure hunters are finding more around the world. Metal detector enthusiasts are also on the prowl, searching areas for lost treasure and finding it, but not in the quantities of the sunken ships. Some of the land treasures include pioneer minor coinage, the privately made minor coins used by merchants generally from about 1875-1915 in the American West. Detectorists have found small batches or hoards of scarce tokens from ghost towns. Sales of treasure coins from the SS Central America and Republic remain hot as ever, now well into the tertiary market. Prices range from about $200 upwards to the sky for the best material.
Bills Of Exchange
These financial documents are a form of money. Collectors can find them for most major American cities from about 1830 all the way into the late nineteenth century, and beyond if you look carefully. Collected generally by geographic areas, such as the California Gold Rush, many have ornate engraving emblematic of the region or time period. For example, many of the Western pieces from the 1850s have mining vignettes. Currently, this area of numismatics is under-collected, and an opportunity exists for assembling a great collection at little cost. Prices range from about $50 to $1,500.
So-Called Dollars
The sale of the Bill Weber Collection of So-Called Dollars got this segment of the numismatic collectible market off to a screaming start. Since that auction several years ago, the market has been hot, with the addition of many new collectors. Grading of pieces by NGC has enhanced the collecting field. Part of this field is Bryan Money, a field unto itself. With more than two hundred different pieces of Bryan Money known, the field has been gaining in popularity. Prices range from about $25 for Circulated common specimens to hundreds of dollars for Mint State examples. Gold So-Called Dollars remain the hottest sellers, but are incredibly rare. They are priced in the thousands of dollars.
US Mint Ephemera
The collecting of US Mint Ephemera has remained relatively strong. The most accessible forms of this category of collecting are old postcards dating from about 1905-1915 with representations of Branch Mint interiors and exteriors. Assay and bullion receipts for Branch Mints from the Gold Rush period can be found, as well as the popular Carson City Mint assay and bullion receipts from the Comstock period. Letters from Branch Mints are far more scarce. Medals commemorating or relating to the Mints are also scarce. Among the most prized Mint Ephemera are the pre-California Gold Rush documents from the Dahlonega, Charlotte, New Orleans and Philadelphia Mints. Prices range from tens of dollars for the old postcards to thousands of dollars for the best assay reports or letters with outstanding content. Average prices are in the low hundreds.
Private Scrip
Paper Scrip from mining, banking, and railroad enterprises is an up and coming collectible category. As a form of Paper Money, Scrip is generally lesser known because of rarity. Western Scrip someday may join the ranks of pioneer coinage. With so few different western pieces known, it becomes difficult to collect. The possible exception are western post-1900 Scrip Notes, many of which are known from each of the western states. Scrip is much more prevalent from eastern establishments. Prices vary from hundreds to thousands of dollars.
Gold & Silver Specimens
Any collector of Gold or Silver coins is enthralled by specimens of pure Gold or Silver. Rare in nature, these often command multiples of the daily Spot price. Collectors go after examples from favorite localities, collect for eye appeal, or simply because they enjoy the field. Native Gold, Silver and their associated ores are also very collectible, particularly to those who collect coins of a specific Mint and want specimens related to the coins produced from that Mint, such as Dahlonega, Charlotte or Carson City. Prices vary depending on quality of the specimen and the Gold or Silver content.
Hunting Licenses
Metal hunting licenses are another of the up and coming areas of numismatics. Die struck licenses from western states have become very collectible. Few survive in the private sector, as most are found by metal detectorists. These generally date from about 1900-1920, when most states switched to paper licenses. Other forms of metallic licenses are also popular, including dog tags (especially those that are pre-1900), and auto licenses (the early ones were attached to the dashboards).
Precious Metal Medals
Always popular with coin collectors are the medals given as awards at exhibitions, fairs and special presentations. These are often engraved with a person’s name. Among some of the best to surface recently was a Silver medal related to the SS Central America.
Other Metallic Collectibles
Die-struck metallic pieces are all collectible. Many of the most popular categories have all been mentioned, but auction catalogs offer a glimpse of the variety: slave tags, stage coach licenses, and more.
Collecting Groups & Organizations
If a piece fascinates you, it will also fascinate others. Thus there will be a collecting group for the area you are interested in. Look the field up on the internet, and you’ll find your category
Fred N. Holabird, President
Holabird-Kagin Americana
Reno, Nevada
775-852-8822
fred@holabird.org
Reprinted from the NOVEMBER 2011 issue #11 of the CDN Monthly Supplement
This
article is copyrighted and may not be reproduced without express permission from
CDN publications. ©2012 CDN Inc.
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©2012
CDN Inc.