Abe Kosoff: Dean of Numismatics

'We were at an impasse. Johnson had a thought. Perhaps Eliasberg would also be interested in the 1870-S $3 piece. Johnson would take $20,000 for the pair.

"T0 me this seemed to be an even more attractive offering. The $3 piece was unique! I telephoned and relayed the proposal to Eliasberg. No, he wanted only the half eagle. I informed Johnson, and we dropped the subject entirely. We went back to work on the patterns.

'That evening, Molly and I were flying to Mexico, dining with Burdette Johnson just before leaving. Nothing was said until fairly close to our plane time, when Johnson remarked, 'If you want the 1822 at $13,000 I will reduce it to that.' I suggested that I would phone my partner, Abner Kreisberg, and if something could be arranged then the half eagle could be shipped to our offices.

"I suggested to Abner that he phone Eliasberg the next day and take it from there. He did. Kreisberg, who had only met Eliasberg once, said 'Look, what are we fooling around for? Make it $14,000 and I will deliver the coin to you,' or words to that effect. It struck Eliasberg as funny. He laughed and said, 'Okay.' Interestingly enough, some time later he bought the 1870-S $3 gold piece, not for $6,500 but for $16,000."

In October 1982, when Bowers & Ruddy Galleries auctioned the gold coins from the Eliasberg Collection, the 1822 half eagle and the 1870-S $3 piece had fetched $687,500 each, or a total of $1,375,000-this for two coins originally offered to Louis Eliasberg for $20,000 back in 1945!

The Numismatic Gallery auction season for 1946 was heralded by Sale No. 34-35, the World's Greatest Collection of United States Gold Coins, the property of F.C.C. Boyd, although, like the situation with the silver series, the owner's name was not disclosed. The foreword to the sale noted:

"The marked success of our handling of the World's Greatest Collection of United States silver coins has resulted in this new auction sale offering the gold counterpart of the same collection.

"Never before has there been offered so complete a listing of gold coins from the regular United States series. Truly, it is the World's Greatest Collection of United States Gold Coins.

"The series of gold dollars, quarter eagles, and three dollar gold pieces are complete; one eagle is missing as are four double eagles and a few half eagles. Included are such outstanding rarities as the 1841 quarter eagle as well as the 1863. The 1875 $3 gold piece, the 1858 eagle, the 1833 double eagle, and, yes-the 1854-S half eagle-these are all offered."

To fit conveniently into those with tight travel schedules, Abe Kosoff noted that the sale was planned for Friday night and Saturday afternoon as a convenience for out-of-towners. "You can get to New York Friday afternoon and leave on Saturday," he observed.

The first coin in the sale, an 1849 gold dollar with open wreath, described as a Gem Uncirculated example, was estimated at $11 but sold for $16, a portent of the interest in the offering. A Proof 1855 gold dollar, described as cataloguing $75 "but worth considerably more," fetched $155, while a Proof 1856 with slanting 5 went to a new home for $125. A Proof 1857 fetched $70, while an 1858 in the same preservation brought $75, and an 1859 realized $30. A rare 1863 Proof sold for $160, while an 1864 brought $100 and an 1865 brought $160. The rare 1875, a variety distinguished by a Proof mintage of just 20 coins and a business strike mintage of just 400, brought $335.

It was the custom for certain cataloguers, the Numismatic Gallery and B. Max Mehl among them, to list Philadelphia Mint coins first and then list mintmark varieties separately. Accordingly, after the last Philadelphia gold dollar, an 1889 Proof at $14, was sold, then Charlotte Mint pieces were offered. The Lot 46, an 1850-C Uncirculated gold dollar, brought $140, the highest Charlotte realization. Among Dahlonega Mint gold dollars, an 1855-D in Extremely Fine grade brought $250 an 1856-D in AU preservation brought $230, an Uncirculated 1860-D fetched $300, and a Very Fine 1861-D brought $335. Highlighting New Orleans Mint gold dollars was an Uncirculated 1855-O at $22.50. The most expensive San Francisco gold dollar was Lot 78, an Uncirculated 1870-S at $230.