Q. David Bowers
HOFFECKER KEPT SOME FOR HIMSELF: Despite the fact that Hoffecker said he was sold out, when Gerald E. Carhart, a Hudson, New York collector wrote to him on October 19, 1935, offering to exchange a Hudson commemorative half dollar for an Old Spanish Trail half dollar, Hoffecker answered as follows on October 26: "Replying to your letter of the 19th I am sending you one of our Old Spanish Trail coins and you may send me a Hudson coin in return. I would like to get one or two more on the same terms, there are several collectors in El Paso who got left out on the Hudson, and as they have five or six each of our coins they would like to trade for Hudson coins on this basis. If you know of anyone else, please give them my address." This was in contradiction with Hoffecker's statement that local collectors purchased no more than one or two coins each, and that in any event he did not have any.
HOFFECKER HAS COINS IN QUANTITY IN 1953: In a letter to Abe Kosoff, Numismatic Gallery, Beverly Hills, California, February 10, 1953, L.W. Hoffecker revealed, probably unintentionally, that he indeed had a quantity of Old Spanish Trail half dollars on hand: "Received your letter of the 9th and sorry we have a very limited number of the Old Spanish Trail coins, and many collectors seem to like to buy from the designer of the coin, and we have no trouble selling 2 or 3 coins at $15 each every week." This was equal to a quantity of 100 to 150 coins sold per year.
HOFFECKER SAID TO HAVE JUST 12 COINS IN 1954: In a letter to B. Max Mehl, dated February 27, 1954, Mrs. L.W. Hoffecker stated: "In reference to the Old Spanish Trail half dollars, we only had 12 of these coins and Mr. Hoffecker decided to keep them for his grandchildren and great grandchildren, as the coins will mean more to them than the money would mean to him." At the time Hoffecker was very ill and under a doctor's care.
MRS. HOFFECKER'S 1954 STATEMENT WAS FALSE: When coins from L.W. Hoffecker's estate were sold by Superior Galleries, February 1987, the following commentary appeared on p. 372 of the catalogue (emphasis ours): "The following group of SIXTY-THREE Old Spanish Trail half dollars comes from the estate of L.W. Hoffecker ..."
STATED USE OF THE PROFITS: Letter from L.W. Hoffecker to E.M. Williams, January 17, 1936: "The money raised was put in our museum fund to purchase things for the museum."
A COMPLAINT RECEIVED: Harold Birch, a Sacramento, California collector, wrote to Hoffecker on February 10, 1936:"Dear Sir: Up till yesterday, I felt very fortunate in being able to get in on the ground floor and get one of your Old Spanish Trail half dollars for $2. I read your add [sic] in The Numismatist, saying that the issuing price was $2.00 and sent $6.00 plus postage for three coins, one for myself & two for two other collectors. The money was on deposit with you for almost 3 months before the coins were issued. Yesterday I read in The Numismatist where a coin club held a monthly meeting and one of the members distributed Old Spanish Trail half dollars to the other members for $1.10, at slightly above cost, the difference to go into the club kitty. I collected the money $2.00 from the other two fellows and now they read in The Numismatist where it has been possible to get the coins for less, so that puts me on the spot. Possibly a mistake was made somewhere, but for my own information, as well as the others, I would like to know how it is you advertise a coin for a certain price & latter [sic] it is sold for half price. Surely no one is selling them at a loss, so either I got stung or else someone made a mistake and I have some money or more coins due me & the other two collectors. Hoping to hear from you in the near future regarding this matter, Sincerely yours, Harold Birch."
THE COMPLAINT ANSWERED: Hoffecker replied to Birch on February 13, 1936: "I received your letter of February 10 and, to say the least, I do not like the tone of it. Nobody got any of the Old Spanish Trail coins for less than $ 2 each. I am not running a con game, and you did not read in The Numismatist that the Old Spanish Trail coins were distributed at any club at $1.10. I read The Numismatist every month and the only thing said about any commemorative coins being distributed for $1 was when Mr. Guttag distributed the Hudson commemorative half dollar. I tried to give the collectors a square deal, but when I get letters like yours I wish I had sold them to dealers and let them hold you up. Any man that is not satisfied with a coin at $2 when they are selling for $6 cannot be satisfied, and I am not worrying any about you. Next time you had better get someone to read the magazine to you and explain the articles."
Collecting Old Spanish Trail
Half Dollars
The Old Spanish Trail half dollar, sometimes called the El Paso half dollar, and more recently simply called the Spanish Trail (without the "Old") half dollar, was popular with collectors from the very start, and this enthusiasm has carried through to the present day. The relatively low mintage of the issue has put it high on the list of pieces desired for completion of a type set or full set of commemorative half dollars.
The Old Spanish Trail half dollars were sold into the numismatic community with the result that most of the original mintage exists today in collector's hands. Specimens encountered are apt to be in the lower ranges of Mint State from MS-60 to 63. MS-64 and MS-65 coins, although scarce, are far more available than are comparably graded Hawaiian and Hudson Sesquicentennial half dollars. More care was taken in the handling of Old Spanish Trail half dollars than of certain contemporary issues, for survivors are less likely to show significant nicks and bagmarks.
GRADING SUMMARY: Check the top of the cow's head for friction. Although this issue was better handled at the Mint than many, most examples still show at least some scattered contact marks. The fields are usually somewhat satiny and gray, not deeply lustrous and frosty.
Commemorating: 400th (more or less) anniversary of explorer Alvar Nufiez Cabeza de Vaca's travels on the Old Spanish Trail
Obverse motif: Steer head
Reverse motif: Map of Southeastern states
Authorization date: June 5, 1935
Dates on coins: 1935 (also 1535)
Date when coins were actually minted: 1935
Mint used: Philadelphia
Maximum quantity authorized: 10,000
Total quantity minted (including assay coins): 10,008
Assay coins (included in above): 8
Quantity melted: None
Net number distributed (including assay coins): 10,008
Issued by: El Paso Museum Coin Committee, 1514 Montana Street, El Paso, Texas (home address of L.W. Hoffecker, chairman)
Standard original packaging: Plain paper envelope; some mailed in six-coin cardboard insert-type holder with L.W. HOFFECKER and his address stamped on it (same holder used for 1936 Elgin halves)
Official sale price: $ 2 plus 10¢ postage (5¢ postage per coin on orders for larger quantities)
Designers of obverse and reverse: Edmund J. Senn prepared models from designs by L.W. Hoffecker
Interesting facts: This was essentially a private venture of numismatist L.W. Hoffecker, who was also to distribute 1936 Elgin half dollars; unlike the Hudson half dollars of similar mintage and of the same year, the Old Spanish Trail half dollars were widely distributed at the time of issue.
(average market prices)
1935 MS-63 to 64 $5.50
1936 (summer) MS-63 to 64 $7
1940 MS-63 to 64 $4
1945 MS-63 to 64 $12
1950 MS-63 to 64 $14
1955 MS-63 to 64 $38
1960 MS-63 $75
1965 MS-63 $235
1970 MS-63 $220
1975 MS-63 $510
1980 MS-63 $2,150
1985 MS-63 $1,000
1986 MS-60 $775, MS-63 $1,000, MS-64 $1,350, M5-65 $1,900
1990 (spring) MS-60 $750, MS-63 $850, MS-64 $1,200, MS-65 $2,250
1990 (December) MS-60 $700, MS-63 $770, MS-64 $880, MS-65 $1,525