Coins We Love: A Journey Through Numismatic History!

I was reading a book about a long-ago dealer, Abe Kosoff, who is considered the “Dean of Numismatics.” I'm pleased to have been acquainted with his son-in-law years ago and I wanted to read more of his story, so I picked up a biography from our aged library at DLRC. While I gave up on doing book reports after high school, the enjoyment of reading and learning from history
has never left my interests. Some parts I found interesting when comparing to today’s coin market:

1. The ANA’s major convention was a struggle to put on. In fact, there were many years that the PNG financed and supported it to make sure that the event occurred. If you were a respected dealer, you were a member of the PNG. Outside of the trusted membership there (that held each other accountable), it was like entering into the Wild West.
2. Major shows occurred far less frequently. Travel was far more difficult, of course, but it was not unusual for a company to take a monthlong roadtrip across the country to a major show, with stopovers to visit fellow dealers and conduct business.
3. Coin clubs, shops and galleries were the lifeblood of the hobby. That’s where knowledge was passed, camaraderie blossomed between collectors, and collections were built!
4. Auctions occurred in major cities far more frequently, but were mostly built around collections that were being sold.
5. The ANA’s major convention had auction sponsors, but it was as much of a social event as it was an auction...they didn’t include thousands of coins.
6. Overseas auctions were a totally different animal. In today’s market, you can order coins from European auction houses and, while the logistics might not be simple, you can do everything from your desk at home and the coin will eventually arrive on your doorstep. In most cases, if you wanted to bid, it was far better and easier to do in person (despite the days of travel to get there!).

• As an aside, the section on the Farouk Sale in Cairo was FASCINATING! Government spies, military government, shipping thousands of dollars in an airplane cargo hold, and government regulations. This section would make a great novel on its own!

7. Your news came via newsletters, pamphlets, auction catalogs, and The Numismatist…coin periodicals were sure to come shortly thereafter, but news traveled slowly…and you needed to have contact with a national dealer regularly to find the rare coins that were missing from your collection.

All of these small topics are quite different from today. The internet makes being a collector (or coin dealer) far easier, that’s for sure. I’m thankful for planes, rental cars, and national coin shows. But, there’s certainly something to be said about the simplicity that the past offered as well.

This wasn’t intended to be a book report, but my takeaway is to pick up Abe Kosoff: Dean of Numismatics or borrow a copy from the ANA library…if you like learning about the old times, it’s a treasure!

And speaking of treasures…some great coins are ending tonight, so please enjoy this week’s Coins We Love!

Numismatically Yours,
John Brush

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