Abe Kosoff: Dean of Numismatics

Chapter 5

The World's Greatest Collection

One of the highlights of Abe Kosoff's career and that of Abner Kreisberg was Auction Sale No. 29, Jetter known as Part I of the "World's Greatest collection of United States Silver Coins," which crossed the auction block on Saturday, January W, 1945.

Although the owner of the so-called World's greatest Collection was not revealed, those close to the hobby knew that it was the property of F.C.C. ("Fred") Boyd, an executive of the Union News Company, an old-time numismatist whose interest extended back many years earlier. Boyd was also a vest-pocket dealer of sorts and occasionally advertised in The Numismatist and elsewhere.

Boyd, a connoisseur par excellence, was a close friend of Abe Kosoff and was his weekly luncheon partner. It was natural that when time came to sell the coins, Kosoff would be selected. The foreword to the sale noted:

"It is with regret that we must refrain from disclosing the name of the owner of this, the World's Greatest Collection of United States Silver Coins. For, while the name might not be familiar to many from the numismatic standpoint, certainly from the standpoint of its importance and stature in public life it would be familiar to all.

"For over 50 years our anonymous consignor added to the collection and improved on specimens previously acquired. The result is as fine a collection of coins as could be obtained."

In order to maximize the effect of the offering, the World's Greatest Collection was divided into several parts. The first, that offered in January 1945, included silver dollars and trade dollars. In the words of Abe Kosoff, "Outstanding among them are the 1794, which is a superb Uncirculated specimen and as such one of the two known in this condition; the 1870-S which has only been once before offered at auction; the many varieties of the 1794, 1798, 1799, and 1800 dollars; all the Proofs from 1840 to 1904; and the choice mintmark series."

When all was said and done, the first part of the collection fetched $15,112.35. The highest price was $2,000 for the Uncirculated 1794 dollar, a coin which was bought by Abe Kosoff's good friend and neighbor, Adolph Friedman, of Mt. Vernon, New York. Then came 16 varieties of 1795 dollars, 35 varieties of 1798, and other treasures, followed by $1,650 for the 1870-S, which was described as follows:

"1870-S. Only once has this date ever been offered at public auction. About 29 years ago at one of Hesslein's sales, an 1870-S sold for $1,600. Mr. Hesslein announced later that he had a bid of $2,000 limit on the lot. More recently a specimen was sold privately for $1,750. This outstanding rarity is undoubtedly not included in most of our finest cabinets of United States dollar collections. It is generally agreed that only six specimens exist; this would make the 1870-S several times as rare as the 1804 which sold for $4,250 in 1941. This coin is Very Fine; excessively rare."

Proof restrike silver dollars of 1801, 1802, and 1803 sold for $225, $210, and $210 respectively.

The offering of Liberty seated dollars is still remembered in the annals of American numismatic history. Proofs from 1840 onward were presented. The first in this outstanding lineup, the 1840, fetched $115, a generous figure for the time. The description of the 1840 noted parenthetically that: lilt has been a generally accepted fact that Proof coins are not struck at the Philadelphia Mint until 1858 except for particular occasions such as the presentation of specimens to foreign mints and museums. The marketing of the Col. Green collection has uncovered a number of Proof coins dated between 1840 and 1858 in sufficient numbers to warrant cataloguing in the Standard Catalogue. As these coins are absorbed, it is our belief that catalogue values will increase sharply. The fact is that they are quite rare, even today."

A November 1944 announcement appearing in "The Numismatist" (reproduced above) and "The Numismatic Scrapbook Magazine" alerted collectors to an important forthcoming sale, an offering which later was to be designated as "The World's Greatest Collection." The owner was F.C.C. Boyd, but for the time being he remained anonymous.