Q. David Bowers
The same subject surfaced in the January 1949 issue of Numismatic Gallery Monthly under the title of "Silly Symphony":
"Once upon a time collectors considered a certain city the Coin Capital and no one had to tell them; nor did anyone take the trouble to deny it.
"Came the dawn of a new day and the eye followed the sun and in the heavens Horace Greeley smiled and said, 'I told you so' -and collectors sought out the new horizon despite the sound and fury ... Yea, it is proved that the Golden State has more coin collectors than the Empire State.
"Well, facts are stubborn things. They do not cease to exist because they are ignored. No, you cannot alter them by filming them over with dead romances ... "
The January 1949 edition offered predictions for the future from some of Abe Kosoff's colleagues:
Aubrey E. Bebee noted: "If the recent upswing in business can be used as a criterion, and I'm sure it can, the coming year will be the best we will have enjoyed since the end of World War II," while Barney Bluestone, the Syracuse dealer, said: "I do not intend to be overly optimistic on the future coin market, however, I'm looking forward to an upward glorious trend in 1949."
M.H. Bolender observed that: "The market in the autumn of 1948 shows improvement over 1947 and the early part of 1948, and we may expect a strong market for 1949. Mr. Raymond has done a good job of price adjustments in the new Standard Catalogue of 1949."
David M. Bullowa: "Values will not change appreciably for some time to come. Prices of early American silver (except dollars) will increase and dollars and cents will continue steady." Ben Dreiske, the well-known Chicago dealer, observed: "Choice U.S. minor coins are harder to get and higher in price. But United States gold and rare items will remain about the same. Foreign coins, except crowns, may be off in demand and price."
Robert Friedberg noted: "After election day I hesitate-but feel optimistic about a favorable coin market," while Edward Gans wrote: "Growing interest for ancient and foreign coins, first quality in good demand. Hitherto neglected Roman bronzes and Byzantine will come to the foreground."
Horace M. Grant, Providence, Rhode Island, observed that: "With no change in the political regime for 1949 I believe we can look forward t a successful year with a slight advance in prices, while Toivo Johnson, a Maine specialist in commemorative half dollars, believed that: "Prosperous years ahead mean great numbers of net collectors. This new interest will maintain and increase the value of available coins."
Sol Kaplan, the Cincinnati dealer and a elm friend of Abe Kosoff and Abner Kreisberg, gave the terse comment, "Demand will be better and prices slightly better," while Frank J. Katen observed that: "Firmer prices were the result of the impetus given by the American Numismatic Association convention auction, Toledo auction and other sales. More emphasis on better grad material, not necessarily Uncirculated or Proof.
Kenneth Lee, a fellow Southern Californian noted: "Really nice material will keep in decent demand. Rising wages and prices seek a fairly steady market. Trend is toward acceptance of Very Fine and Extremely Fine coins perhaps due to high prices of mint specimens," a sentiment which would be echoed again and again in years to come.
Howard E. Macintosh of Springfield, Massachusetts, wrote: "We anticipate a steady demand during 1949 based on a well-stabilized market wit possible rising prices as we enter a new inflational spiral," while Texas dealer B. Max Mehl wrote the "The trend for 1949 should be and probably will be as in 1948 and perhaps a bit better."
Wayte Raymond observed that: "A steady advance is bound to take place in the values of the commoner coins and minor rarities. The marks is on a sound basis except in the case of some rarities," the latter a reflection of reduced price for important gold coins and other series which had been so popular toward the end of and immediately after World War II.
Hans M.F. Schulman believed that: "There will be more collectors daily for medium price coins which will increase in value. Some rarities should become cheaper. Roman coins are regain in popularity." Norman Shultz, who had been in the coin field since before 1920, observed that: "The coin market has leveled off. Commemoratives and Morgan dollars are in demand. With the 37-cent dollar, coins can sell at three times the former price and still be no higher than they were. Business is better, and more collectors are seeking earl:
United States coins. The market will stay well up.
Joseph B. Stack felt that: "The coin market is strong. Prices are holding up fairly well; in ourrecent auction sale prices were from 10% to 35% higher than they were in the spring and summer, while Charles M. Wormser wrote: "I believe that the coin market will stabilize at about the present level, and that activity will also be about the same s at the present time."
Abe Kosoff was on another cross-country jaunt via the Super Chief train to Chicago, directly he taught, but he ran into a snowstorm in Kansas and was stranded for 16 hours. Reaching Chicago, he attended the Chicago Coin Club anniversary banquet along with Jim Kelly of Dayton, Richard. Yeoman, Lee Hewitt, Aubrey and Adeline Bebee, and many others-"quite an enjoyable me, truly one your editor has enjoyed. The pre-banquet cocktails at Merrill and Marcella Sheldon's didn't hurt any. Lunch with the C.E. Greens... "
His trip continued to New York City, where "it took eight days before I saw the sunshine-no kidding!" Then he returned via Sol Kaplan in Cincinnati then a few other stops, a visit with Lew Reagan in Wichita, and back to Los Angeles, where "83 degrees greeted us-I know you'll feel sorry for us-all this heat. I guess we'll have to put up with it, thank goodness!"
In other news it was observed that a recent Sam Spade radio mystery centered around an 1841 quarter eagle, resulting in many telephone calls to he Numismatic Gallery, for the coin in question lad been sold by them earlier.
In 1949 Abe Kosoff was named chairman of National Coin Week. Sponsored by the American Numismatic Association, this yearly event saw coin displays set up in store windows and other public places. The objective was to increase the popularity of numismatics in the eyes of those who lad not yet been bitten by the bug. Abe Kosoff felt that young people were prime candidates:
"If you can induce youngsters to spend their time collecting coins and studying numismatics, you will be serving the citizenry by forming fine citizens, for a time spent with coins might otherwise be spent less profitably."