Q.David Bowers
A postage stamp sold recently for about $35,000 in comparison to which, from every viewpoint, this coin should be worth $100,000. Of course, we do not expect to obtain a price anything like the price of the stamp referred to, but we feel sure that at some future date this piece will bring more than the rarest postage stamp. Please do not take my word for this-ask any numismatist. Not more than one dealer ever owned this rare United States coin or sold it at auction.
We are going to give everyone in the United States the same chance to buy this rarity, and therefore, we will not sell it until May 23, three weeks from above date. If you are interested we should be pleased to hear from you before that date, thus giving everyone interested a chance to communicate with us and get our price.
The first coin minted for the government of the United States; the first coin to bear the letters "U.S."
On December 22, 1923, Julius 'Guttag wrote to John Work Garrett:
We have the following Higley threepence pieces on hand at this time: Crosby plate VIII, numbers 21, 24, 25, 26. If you wish to inspect any of these we shall be glad to forward same to you on approval. What pieces are you extremely anxious to obtain at this time?
On December 28, 1925, Garrett wrote and ordered an item from a price list:
I should be much obliged if you will send me on approval the 1861 $3 gold piece, brilliant Proof, mentioned in your bulletin Series 3, No.7 page 5. As I am to be in New York for several days it would perhaps be more convenient if you sent it to me at my address there-950 Park Avenue.
Julius Guttag wrote Garrett of a recent acquisition on February 2, 1927:
We have recently obtained the Willow Tree threepence. As you know this piece is exceedingly rare. We do not know whether you already have it in your collection, but if not we would be glad to send it to you for your inspection.
Julius Guttag sent the piece to Garrett for his inspection on February 4, 1927: Replying to your letter of February 3, it would be very difficult to describe the condition of the Willow Tree threepence. For that reason we are sending it to you for your inspection. The price of the coin is $2,250; you will note from the February issue of The Numismatist this piece cost us 305 pounds plus other charges. It would be useless for us to go into the rarity of this coin as you probably know more about it than we do.
Garrett decided against purchasing the piece and replied on February 5, 1927: I am obliged to you for letting me see the Willow Tree threepence which I am however returning to you today. I do not care to pay so enormous a price for it.
On January 9, 1928, John Work Garrett wrote: I should be much obliged if you would send me on approval the Grant Indian peace medal as quoted in your bulletin series No.5, No.7.
This was duly sent, and on January 16, 1928 Garrett forwarded his check in payment for it.
Correspondence with William Hesslein
From 1919 through the late 1920s John Work Garrett made numerous purchases, mostly of small items, from William Hesslein, a dealer located at 101 Tremont Street, Boston, Massachusetts. During this time Hesslein offered in fixed price lists and in auction sales a wide variety of issues.
On October 16, 1919, Hesslein wrote to Garrett: In offering this lot of territorial gold, probably the finest I have offered in a good many years, I wish. to especially advise that if you hope to accumulate a collection of these pieces, to purchase as liberally as possible as an opportunity like this is rarely offered.
Appended to the foregoing was a list of over two dozen territorial issues. The letter was not directed specifically to Mr. Garrett but, like much of Hesslein's correspondence, was one of several carbon copies which apparently Mr. Hesslein sent to important prospects on his mailing lists.
On November 25, 1919, John Work Garrett purchased a number of pieces from Hesslein, including these quarter eagles: 1846 $4.25, 1854 $3.65, 1858 $3.75, 1848 CAL. $85; an 1854-D $3 gold at $47.50; and an 1825/1 $5 gold at $95. Hesslein sent Garrett another offering of gold dollars on December 2, 1919:
On December 2, 1919, Hesslein wrote: In offering you the collection of gold dollars as below given you will find almost a complete set of these pieces, some of which are very rare. I would also call your attention to the collection of California minor gold coins which certainly should interest you.
Offered were such items as a $4 gold stella (presumably of 1879) and two gold pattern dollars, the group at $95; an 1852 Proof gold dollar described as "no record of this piece in this condition, of excessive rarity in this state," and other issues.
Over the next several years numerous invoices were sent from Hesslein to Garrett. On September 2, 1921, William Hesslein sent a listing which included:
Joseph Lesher's Referendum Souvenir $1, one ounce of coin silver, price $1.25 mfgd. Victor, Colorado, 1900 ... of excessive rarity, only a few known to exist. All pieces are octagonal, Fine. $55; Joseph Lesher's Referendum silver Souvenir $1 mfg. Victor, Colorado, 1901. Reverse "IN THE PEOPLE WE TRUST," a commodity, will give in exchange merchandise at ]. M. Slusher, Cripple Creek, Colorado ... Very Fine, excessively rare, first I have had bearing this date. $45.; Joseph Lesher's Referendum Souvenir Dollar, one ounce coin silver, price $1.25 mfg.
Victor, Colorado ... a commodity, will give in exchange merchandise at A. B. Bumstead ... Very Rare, Extremely Fine. $20; same as above only without scroll at coat of arms, in like condition, Extremely Rare, first offered. $25. Send your order at once if you wish to secure these ...
Garrett requested that pieces be sent to him for inspection. He wrote to Hesslein on March 15, 1922: I shall be very glad if you will send me on approval the pieces mentioned in the enclosed list from your catalog No. 29, part 1. Please take particular pains to pick perfect examples of the Peace dollar.
On April 10, 1922, Garrett wrote again: I am returning the two Grant coins in the hope you will be able to pick out for me somewhat better specimens than these two. Even if it takes a little waiting I should prefer that to putting in my collection two specimens which are really not very good ...