Q. David Bowers
"The dealers seek the cooperation of all collectors, part-time dealers etc., although membership will be by invitation only and limited to full-time professional numismatists. Negotiations are being attempted to have Dun & Bradstreet represent the Guild. A. Kosoff is the executive secretary and Aubrey Bebee and Dave Bullowa join on the executive committee."
It was reported that over 100 friends of B. Max Mehl attended the testimonial dinner held in his honor on August 26th at the Schroeder Hotel in Milwaukee. Mehl received an honorary Life Membership in the American Numismatic Association and a beautiful plaque to observe the occasion.
An educational program at the ANA convention was well received, with Abe Kosoff noting that "this is what we've needed all along." Also:
"Never considered myself a big family man, but the Kosoffs took a prize for the most children at the convention-all our two youngsters were there and no one else brought more than one."
Auction Sale No. 67, a mail bid event, comprised the bulk of the Numismatic Gallery Monthly in September. Consignments included United States coins in various series plus a few world issues. It was announced that the Numismatic Gallery would again be open on Monday evenings to accommodate the popular gatherings of collectors and on Saturday the Gallery would be open from 9:30 a.m. to 1:00 p.m.
Auction Sale No. 68, a mail bid sale with a closing date of November 14, 1950, featured half cents, large cents, and other pieces and was presented in a 54-page catalogue without illustrations. The large cents were owned by the Numismatic Gallery and were from the Charles Williams Collection acquired earlier. Over $25,000 was realized.
Lot No.1, a 1793 Chain AMERI. cent, sold to an eastern collector at $1,400. A Crosby 10-1 1793 cent was awarded to a Los Angeles bidder at $1,250 against a high bid of $1,800. Other prices realized included a 1793 C-9H $1,175, a 1793 Strawberry leaf at $1,025; 1794 S-39 for $355, and an 1801 D-156 at $300. The Sheldon numbers were just beginning to be used, and the Numismatic Gallery's report of prices realized interspersed them with other numbers such as those given by Crosby and Doughty.
Heralding the November-December issue of the Numismatic Gallery Monthly was an offering nickel three-cent pieces. Proofs of 1883 and 1884could be had for $3 each while the rare 1877 was offered at $72.50 and the scarce 1878 was featured at a special price of $16.95. An offering of nickel five-cent pieces included numerous Proof Shield issues priced just under $10 each and Proof Liberty nickels priced from about $4 upward. A Pro example of the scarce 1885 Liberty nickel was pegged at $25. Apparently a group of 1861 U circulated Indian cents was on hand, for they were offered at a special price of just $11.75 each. They were the days in which scarce dates sold for considerably more than common dates, so an Uncirculated 1862 cent, a much more plentiful variety, cost just $1.25 while an Uncirculated 1863 cent could be had for 85c.
A collection of $3 gold pieces from 1854 through 1889, lacking only the 1854-D, the unique 1870-, 1875, 1876, and 1877, containing 39 coins in a: including Proof examples of 1858, 1862, 1864, are others, was offered at $2,150. The 1875 rarity described as a perfect Gem Proof, was available separately for $3,000, or it could be purchase with the set for a total price of $5,000.
Publicity concerning the 1822 half eagle acquired with the Williams Collection was milked for all it was worth, and numerous notices concerning the piece were inserted in auction catalogues, price lists, and other published material of the era.
"Gallery Sets Unique Mark" was the title of notice in the Numismatic Gallery Monthly which related:
"As you may know, there are three know specimens of the 1822 half eagle: the Mir specimen, the Brand example and the Dunham coin. Uncle Sam won't sell so that leaves two collectible pieces.
"In 1945 we had the privilege of placing the Brand specimen at the record price of $14,000 Recently we acquired the Dunham coin and have sold it, setting a new record price considerably in excess of the previous mark. To our knowledge no other numismatic establishment can boast of having sold both of these famous rarities."
Closing out the year was Auction No. 59, a mail bid sale featuring foreign gold coins of the world foreign crowns, and numismatic books. The closing date was December 15, 1950.
Abe Kosoff told of an interesting situation involving 1909-S V.D.B. cents which occurred in the early 1950s at the Numismatic Gallery:
"A gentleman came in with a roll of Uncirculated 1909-S V.D.B. cents. We bought it for 250, which was equal to $5 per coin. Shortly thereafter he was in again. This time he had two or three rolls, and again we bought them for $5 per coin. He didn't want the check we wrote, so we cashed it for him. Each time he came in this procedure was standard.
"We had heard of a cache of 800 rolls on the West Coast. Perhaps this was it. But, the seller resisted any inquiries about how many more he ad. He didn't want us to call him or write to him. He would be back every so often. We finally asked him not to sell any coins elsewhere. Our supply was becoming substantial, despite the fact that we would wholesale a part of each acquisition.
"I don't recall how many we bought, but the rice went up to $5.50 each, then to $6. One day we were top-heavy with 1909-S V.D.B. cents, at which time he came in desiring $6.50 per coin. This me we resisted. He left. We constantly expected him back, but he never came. After some time, we decided to call him, only to learn there was so such party at the address given us. Very likely the name was also fictitious. That's life!"
The January 1951 issue of the Numismatic Gallery Monthly announced a move from the Wilshire Boulevard location to 228 North Beverly Drive in Beverly Hills:
"Gallery starts new year at new location-from from new and beautiful street floor location we extend our greetings for the New Year and invite you to pay us a visit. Come ye one and all to our open house on Saturday, February 23rd. Cocktails and hors d'oeuvres from 2 p.m. until? Numismatics at the Gallery will continue in the same grand manner to which you have become accustomed. We solicit your patronage during 1951 as well as thank you for your favors during 1950.
"But-something new has been added-at the same new location we have established the Antique Gallery under the supervision of our own Abner (Antique Konnoisseur) Kreisberg. Now, when you visit the Gallery you see not only old coins and old A.K.s but also old jewelry, bric-airac, silver, etc. Moving has been a bit of a mess. If we have been a bit tardy in filling your orders or responding to your inquiries, we're genuinely sorry... "