Abe Kosoff: Dean of Numismatics
Q. David Bowers
A Wass, Molitor $50 in Very Fine grade but with the usual surface nicks was posted at $1,200, while one in just About Fine preservation could be bought for $750.
Several gold ingots were offered, including a $49.50 bar of Kellogg & Hewston, 2.77 ounces in weight, at $8,000, a $16 bar of Moffat at $1,550 and a previously unlisted $14.25 bar of the same issuer at $8,000. $5 and $10 gold coins of Oregon, 1849, in Very Fine grade or close to it, were priced at $275 for the $5 denomination and $3,000 for the $10.
Dealers were invited to submit predictions for the coin market for the coming year. Enthusiasm was rampant, and everyone predicted strength. James Kelly, the Dayton dealer, wrote: "We have inflation and Democrats, whether we want them or not. This combination means less purchasing power for the dollar which means higher prices," while Hans M.F. Schulman offered a specific calendar of change: "With the cost of living rising and money scarce as only a few are making big money, there will be a slump for the first six months after that more people will make money and, by December, business will pick up for a long time to stay."
Charles M. Wormser predicted: "Inflation is going to playa great part in the coin hobby future. On one hand it will make less money available for collectors to spend on their hobby, but on the other it will make coins as 'real' property a better investment. It is very difficult to determine which will be the most important factor." David M. Bullowa gave his opinion: "American numismatics is coming of age. Real appreciation for choice material is being exercised. The market for American coins is stronger now than it has ever been."
ANA politics surfaced again in "Money Talks," with Abe Kosoff writing:
"Speaking of ANA, how long will it stand for the vile invectives being slung its way by ONE expelled member whose record shows him to be an agitator of long standing? Personally, we can disregard him. The ANA cannot. Hitler proved that lies shouted long enough and loud enough will fall on some believing ears. It is time we reckon with the mediocre mind which condemns everything which passes its understanding."
A mail bid sale was the key feature of the Numismatic Gallery Monthly for February-March 1951. Clearly, double issues for the "Month were becoming the rule, not the exception.
Business was increasing at the Gallery, and it was all that Abe Kosoff and Abner Kreisberg could to keep things in order during the 24 hours alloted them each day.
The auction sale in that issue, billed as No.1 started out with United States coins and the featured coins of the world, United States go large cents, and ancient coins, concluding with fractional currency. Offered at fixed prices were numerous other pieces, including an 1865 Pr gold dollar ("has been cleaned") at $110, an extremely Fine 1855-D of the same denomination $225, and an Uncirculated 1895-O dime for $175 Proof sets included a 1915 for $340 and a 1936 $54.
During the late 1940s and early 1950s many mentions of Louis Eliasberg, the famous Baltimore collector, and his achievements appeared Numismatic Gallery publications. The April 1st issue of the Monthly paid another tribute:
"A few years ago we sold a collection at auction which we called The World's Greatest Collection' -well, 'the king is dead, long live the king. Today a new collection has claim to that title, least so far as United States coins are concerned.
"Mr. Louis Eliasberg of Baltimore, Maryland lays justifiable claim for his magnificent numismatic holdings as the World's Greatest Collection of United States Coins. Years of persist: endeavor and no inconsiderable outlay of folding money has resulted in a collection which boat of every date, of every mint, of every metal.
"Generously desiring to share his joy with fellow numismatists, Mr. Eliasberg has consent to put his collection on public display at the Baltimore National Bank in Baltimore from AI 23 to May 3. This is the first time the complete collection of United States coins has been on ex hibit, and we are fortunate indeed to have the opportunity to see it. Fortunately, I expect to be Baltimore and plan to spend no little time greeting many old friends; coins of great rarity which' at the Gallery were able to procure for Mr. Eliasberg. The 1913 Liberty Head nickel will certainly nod in remembrance, the 1853-O half dollars is only recently out of our hands, and there is t 1822 half eagle which we acquired from the Bra Collection at Mr. Eliasberg's request. Perhaps t 1854-S half eagle will acknowledge pleasure at passing from one World's Greatest Collection another.
