Q.David Bowers
On January 26, 1883, Frossard wrote: I fear that if I don't reply to your favor at once some time will elapse before I can do so. Tomorrow I have a sale at Bangs & Co. Then come in quick succession the Britton and Smith sales.
The small package of American coins sent to you on approval was not my property and the prices were not fixed by me. I agree that most of them were too high and some I did not send at all because they were altogether too high.
As regards the Immune Columbia in silver, the only one I believe out of the lot you kept for further examination, I do not think the price is high, as the owner invoiced it to me at less than cost. It is the finest and I believe the only strictly fine impression known and originally came to me from the Legras' cabinet invoiced at 500 francs. But, of course, I did not pay that much for it. If the price pleases you, you may retain it at $60 which is at cost to me, or what I have to pay the owner in case of a sale. The other coins from stock I marked at as low rates as the cost would warrant. If there are any among those returned that you would like at slightly lower rates please specify the numbers and if I can possibly make reductions I will do so, but fine coins have gone up so that I really marked as I stated very close, and the reductions would be slight.
On January 30, 1883 Frossard wrote:
I am glad that you kept the Immune Columbia at $60 and think that you will eventually consider it as one of your cheapest and most desirable acquisitions. To judge from the excessively high prices paid yesterday at Burton's sale the tendency of prices for fine American coins is decidedly upward. Never have I seen such a concourse of buyers and such prices realized. The $50 round California gold will be reserved and sent on approval at first opportunity.
Additional invoices sent to Garrett, included one on February 8th for "Frossard's 27th sale"; and later one with the note "I may be able to offer you very soon a few extremely rare coins (Colonial American). On February 20, 1883, Frossard wrote regarding the next shipment:
I beg to acknowledge receipt of your favor of yesterday with check for $521.55 in full for your account to date, and for which please accept my thanks. On or before Monday next I will send you a package containing the balance of crowns wanted. Also the $50 1850 California round, and a number of rare Colonial coins. Most of these were at the time bought by me for a gentleman who now relinquishes the colonial coinage to perfect his set of United States silver and copper coins. I shall beg you to keep the fact of my sending you these private as I propose to advertise them in the March NUMISMA if you do not purchase them, and I do not want coin dealers to know that prices on them have been fixed or the coins submitted to anyone.
The ROSA AMERI farthing lately sent to you is a good example of these coins, and I was surprised that you did not take it, as in Uncirculated condition it is one of the rarest of American coins. I am glad that you got some of the coins at the Leavitt sale and are pleased with them. They sold generally at very fair rates-our New York friends, interested in their so-called coin boom, do not attend my sales, and in fact do everything to prevent their success, but I am not at all sorry as it brings me directly in correspondence with bona fide buyers, and if the prices are not quite so high they are nevertheless satisfactory.
Frossard's letter of February 27, 1883 discussed the price of the Brasher doubloon, in which T. Harrison Garrett was interested:
Your favor of the 26th with a check for $145.50 in full to date, also coins returned, duly received. Please accept my thanks for your promptness.
When I bought at the Bushnell sale for the present owner of the doubloon I had many other orders from him which remained unfilled, because we thought they sold too high, and I limited my bids to what might be considered as good but not extravagant prices for rarities. There can of course be an honest difference of opinion as regards the value of the doubloon, but I believe with the exception of the 1804 dollar it is the most desirable and valuable of all American coins. Its sale will only be a question of time. The piece will be offered in the March number of Numisma and any offer from you for it (and the others) will be at once communicated to the owner. In the meanwhile I am authorized if I can't get $700 to take $650 which I respectfully communicate to you. In the event of no buyer being found through the ad in Numisma it is barely possible that the piece will be offered at auction in the fall.
On March 10, 1883 Frossard wrote:
In reply to your favor of the 6th I will state that since you returned to me the colonial coins I have not offered them to anyone, hence I can still send you the "New Yorke" in America at $12.50 herewith enclosed, or if we can come to an understanding, the entire lot forwarded to you on approval. I am authorized by the owner to use my judgment in disposing of all these fine coins, and I think that by making slight concessions to each other we can come to an understanding. I am prepared to sell you the entire lot for about what I understand Scott [a reference to Capt. J. W. Scott, leading dealer of the time] has said he could obtain for the doubloon alone if it had been placed in his hands for sale instead of mine.
On March 14, 1883, Frossard sent the following note and invoice:
In reply to your favor of the 12th, I have carefully revised the list of rare colonial coins as follows:
Brasher doubloon $600; NE sixpence $65; Massachusetts cent, arrows left $37.50; Carolina elephant token $80; Fugio cent with names of states $80; Immunis Columbia $50; Pine tree 1650 [sic] $42.50; Vermonts 1785 $8; total $963; the lot $950.
This I think is the very best I am authorized to do.
On March 19, 1883, Garrett countered with an offer which Frossard agreed to pass along: I will communicate your offer to the owner of the coins but scarcely think he will accept, it being considerably under actual cost of the coins ...
On March 31, 1883, Frossard corresponded further on this subject: Your favor of the 30th reached me this evening. I regret that several of the numbers wanted had already been sold, but I shall express to you on Monday the following...