Abe Kosoff: Dean of Numismatics

Collectors of a later era no doubt will shed tears of nostalgia to learn that a 1796 quarter with a superb prooflike surface could be purchased for $200, an 1856 Flying Eagle cent cost all of $180, and Proof double eagles cost as little as $137.50 each!

In the "Money Talks" feature, Abe Kosoff noted that he was also editing a column, "Coin Collector's Corner," in the Beverly Hills Bulletin, a weekly newspaper in the Numismatic Gallery's home town.

According to Abe Kosoff, problems were developing with the American Coin Dealers' Association. Howard MacIntosh had been elected president to replace Charles M. Wormser, who resigned. "Our last reports indicate that this group is looking for a treasurer and a director-with a refusal from those to whom these positions were tendered," he noted. "To our many dealer and collector friends we want to make it known that the Numismatic Gallery has resigned from the ACDA along with other prominent dealers. It's not that we don't believe in an organization for coin dealers-it's just that we would rather see them practice than preach a code of ethics." It was further noted that collectors with problems would be well advised to seek recourse through the American Numismatic Association, which had a committee which resolved disputes. Dealers on the committee represented various sections of the country. Charles M. Wormser, located in New York, Sol Kaplan of Cincinnati, Aubrey Bebee of Chicago, and Abe Kosoff were committee members.

The July 1948 Numismatic Gallery Monthly commenced with large cents, headed by a 1793 Crosby 7-F Wreath cent, Very Fine, at $125. The following year Early American Cents, by Dr. William H. Sheldon, would be published, and from that point forward Sheldon numbers would be employed. However, in 1948 Crosby, Hays, Doughty, and other attributions were the rule.

Later on in the catalogue, an offering of presidential medals consisting of 32 pieces in a leatherette case, at $6, was billed as "educational and interesting-kids like it; mine do!"

The Numismatic Gallery Monthly was becoming popular, if the comments in "Money Talks" are any indication. One client wrote that "It is a barometer of market conditions," while another said "Now we can have up-to-the-minute coin values," and a third said "certainly a handy bulletin-how can you handle it on a free basis?" To the last question, Abe Kosoff replied: "We don't-your orders make it possible."

Other news notes of the time: "Bay Cities Coin Club held its May meeting at the Numismatic Gallery in Beverly Hills. An entertaining quiz program was the feature of the evening with prize: awarded to Jack Barnes and Mr. Howell. Dr. Kaffeseider played June host at his Los Angeles home

"One of our A.K.'s (Kosoff) ran up the traveling expenses by United Airlines-Los Angeles to Omaha for a nice visit with Dr. Judd-and both drove (saving money) to Cedar Rapids for the Iowa Numismatic Association convention... "

"As of July 30th, our New York Gallery bow: out," noted advertisements placed in numismatic journals. "Months ago we realized the inevitabilityof such a move. The trend is toward California The leading coin market now is California. We are prepared to handle it!"

The same notices announced that the West Coast represented over 20 % of all ANA member and that California led all other states in American Numismatic Association membership. A "competition" between the virtues of New York and Los Angeles then ensued, with New York dealer claiming their city to be the best, and Abe Kosoff and Abner Kreisberg extolling the advantages of the Golden State.

The September 1948 Numismatic Gallery Monthly featured numismatic reference books tostart, followed by territorial gold coins (the most expensive item of which was an 1849 Mormon $20 Very Fine, $625), silver dollars, Buffalo nickels and other series.

A brief essay, "Collecting," was presented:

"Collecting is a reflection of a mental attitude which keeps one young. As Chauncey M. Depew at 83, said, 'Have some special interest apart from your business.' Collecting is the interest.

"Collecting keeps one busy at odd moments and the pursuit, study, and research magnifies our imaginative, aesthetic, romantic, and intellectual qualities.

"It gives one a remarkable fund of information a varied experience with interesting objects an interesting people. It teaches us to appreciate art, archeology, and history... Archeology has revealed to us the glories of our ancient cities and has conserved the arts produced by ancient peoples. And history-Carlyle's definition is perhaps the greatest-'history is a mighty drama enacted upon the theatre of time, with suns for lamps, and eternity for a background.'

"Collecting needs no special knowledge no preparation. One just starts to collect. Knowledge of the subject will come naturally with experience through the pursuit of your hobby. Dealers will sometimes be a source of information, but many dealers are not well posted on the items they sell. Dealing is a business, collecting an art.

As of July 30, 1948 the New York division of the Numismatic Gallery was no more, thus ending a long tradition. "The trend is towards California. The leading coin market now is California. We are prepared to handle it!" notes this advertisement from the July 1948 issue of "The Numismatic Scrapbook Magazine."