Q. David Bowers
"The successful disposition of this midwestern collection resulted in a fine consignment of patterns from Albany, New York, and 178 lots were offered in our May sale at the Ohio State Numismatic Association convention in Columbus.
"This present unusual offering of over 250 lots includes numerous specimens not previously offered. The spontaneous response to our pattern offerings indicates that this series is on the way up. Wise collectors will buy now before the inevitable rising prices ... "
In an era before the advent of Dr. J. Hewitt Judd's book on the subject, attributions were to Adams-Woodin numbers. Among the items offered, an 1865 silver dollar struck from the regular dies except with the motto IN GOD WE TRUST, AW -490, fetched $101, a modest advance over Abe Kosoff's sale of a similar piece a few months earlier at $98. Most other pattern dollars brought from less than $10 up to $20 to $30. A Barber metric dollar in silver, AW-1636, was bid to $34, while a copper impression of a related coin, AW-1599, fetched $7.75.
A curious catalogue entry is provided by Lot 356, an 1859 pattern half dollar, AW-297, described as hollow and as "probably very scarce." The piece fetched $9. One of the most expensive of the pattern half dollars was the 1863 with IN GOD WE TRUST on the reverse, silver, AW-371, at $38. An 1864 version of the same coin, AW-494, brought even more, $54. The market was edging upward, for similar pieces brought $53 and $52.50 in Abe Kosoff's auctions earlier in the same year. Numerous other pattern half dollars brought in the $6 to $10 range. Many pattern quarters sold for less than $5 each, while pattern 20-cent pieces generally brought in the $10 to $20 range. Pattern dimes sold from $3 to $10 in most instances, with just a few exceptions. A piece described as "1844 $5 gold, made in platinum, has been gold plated to resemble the gold coin, very rare, unlisted" brought $48. Another curious item was a "muling of a large cent reverse die with a $10 gold obverse die, 1863, gold plated," which brought $5.50.
Lot 570, a 1915-S Panama-Pacific octagonal $50, "only 646 pieces struck," further described as "rare and interesting," found a new home at $240.
Large cents, which were to become an Abe Kosoff specialty in later years, were represented in the 1942 sale by an offering of various dates. A 1793 Chain AMERICA with period after date, Doughty 4-B Very Finer brought $26; 1793 Wreath cents with vine and bars edge, two different varieties, fetched $15.50 and $13; a 1799 in Very Good grade, described as "very rare," brought $20; several dates of large cents from the Randall Hoard, 1818, 1819, and 1820, sold for between $1 and $2 each in Uncirculated grade; and an Uncirculated 1857 small date large cent realized $6.50.
Lot 729, a rare Proof example of the 1867 with rays Shield nickel, described as having slight nicks on the edge, brought $44, not much less than the catalogue value of $50 at the time, while a Proof 1877 sold for $26 (as opposed to the catalogue value of $22.50), and the scarce 1878 Proof nickel brought $15.50. A collection of Matte Proof Buffalo nickels consisting of two examples of the 1913 varieties plus one each from 1914 through 1916 listed for a total of $17.50 in the Standard Catalogue of United States Coins, by Wayte Raymond, and fetched $15.50.
A 1937 cent and nickel, "Uncirculated with milled edges-only 100 sets supposed to exist -selling currently at about $30 for the pair," brought $27.50. It is believed that these were made in a machine shop in Philadelphia and were distributed as souvenirs or novelties, but in the early days they were listed as a Mint product.
Lot 738, an Extremely Fine specimen of the scarce and popular 1792 half disme brought $72.50. Proof 20-cent pieces sold for the following prices: 1875 ($5.50), 1876 ($7.00), 1877 ($17.50), 1878 ($15.00).
A set of commemorative half dollars from 1892 through 1939, a complete set at the time, with all date and mintmark varieties, 111 pieces, with the 1892 and 1893 Columbian issues noted as being Proof, found a new owner at $290.
Lot 806, the rare 1836 half dollar with reeded edge, Uncirculated, brought $14.50, or about one one thousandth of what a comparable piece would be worth 40 years later!
A Santa Domingo 4 real piece, Guttag-4627, obverse with lions and castles, described as "Very Fine and excessively rare, if not unique," fetched $115 and was the highlight of the world coins offered toward the end of the convention sale. A 1658 half crown of Oliver Cromwell, Very Fine, fetched $5.50, a British Maundy set from the year 1800 realized $2.25, and a Chilean Coquimbo peso of 1828 brought $32.50.
Civil War tokens from the Julius Guttag Collection were offered in large lots, including 50 different pieces from Michigan, 276 from New York, 157 from Ohio, 54 from Pennsylvania, and 55 from Wisconsin. Among encased postage stamps, one of the higher ticket items was a 10c piece issued by Bailey & Co., the Philadelphia jewelers, Fine condition, at $12. A John Gault 30c encased postage stamp, Fine, fetched $22.50, a Kirkpatrick & Gault 3c issue brought $17.50, and a Weir & Larminie 10c issue sold for $32.50.
In the category of United States paper money, an 1861 demand note payable at Boston, with Dickson and Wilson signatures, Very Good, brought $31, while a related $10 1861 demand note, also payable in Boston but with Tollman and Whilplay signatures, Very Fine but with small patch, sold for $92.50. An Uncirculated 1875 "Lazy 2", Allison-Wyman signatures, on a LaCrosse, Wisconsin bank, New condition, sold for $17. A specimen of the rare 1861 Confederate $1,000 Montgomery note, Very Fine, sold for $57.50.
Page 65 in the 1942 American Numismatic Association convention catalogue was devoted to colonial and related coins. The highest price was $28 realized for Lot 1061, a 1737 Higley threepence, with VALUE ME AS YOU PLEASE and three hammers on the obverse, with the inscription I AM GOOD COPPER. "Type unlisted by Raymond."
In the series of Vermont coppers there were but three pieces offered: a 1785 VERMONTS, Fine, brought $5; a 1795 VERMONTIS, also Fine, $7.75; and a 1786 Bust Left, Very Good $3.75.
The very last offering in the sale, Lot 1190, was an 1882 Proof trade dollar which fetched $4.
The back of the convention catalogue was devoted to an advertisement for the Numismatic Gallery, which billed itself as "Home of America's Finest Coin Sales." The writer invited patrons to visit free exhibitions at the Numismatic Gallery, to inquire concerning reasonable auction terms, to request free catalogues, to submit a want list, to offer coins for sale, and, in general, to "get our square deal treatment."