The E-Sylum:  Volume 8, Number 36, August 21, 2005, Article 8

HIDDEN HAWAIIAN COIN COLLECTION TO BE SOLD

Dick Johnson forwarded a link to the following article about
an obscure old-time collection to be auctioned next year:

"For more than 80 years, a coin collection amassed by
banker and landowner Samuel Mills Damon has been locked
in the vaults of First Hawaiian Bank. Now, the multimillion-
dollar collection has been shipped to New York, where it will
be auctioned off early next year.

Described by a local expert as among the world's top 10,
the collection has more than 6,000 coins from Hawai'i,
Europe and Asia.

"This will probably be one of the greatest collections that will
ever be auctioned off," said Honolulu coin merchant Craig
Watanabe, president of Captain Cook Coin Co. "This Damon
estate collection is probably going to go down on record as
among the top 10 sales in the history of the world."

The collection includes Hawaiian bank notes, highlighted by
an 1880 Kingdom of Hawai'i $10 bill, Serial No. 1, one of
only three uncanceled examples known to exist.

However, it is primarily a collection of American coins, and
features an 1876 proof set of 14 coins from a copper penny
to a $20 gold piece. The proof set is expected to bring in at
least $250,000."

"Damon, a minister of finance under Queen Lili'uokalani who
followed Charles Reed Bishop as head of First Hawaiian Bank's
predecessor, Bishop & Co., collected coins from the late
19th century until his death in 1924. The selling of the collection
was prompted by the dissolution of the land baron's estate.

Watanabe said there are legends about how Damon gathered
his coin collection.

"Supposedly, Mr. Damon, every year from about 1895 to 1924,
got one roll of each denomination of coins from the shipments
that came in from the San Francisco mint."

"Damon also collected 200 medals dating from the 17th
through the 19th centuries representing various Western
European countries, the United States and Hawai'i, including
two 1850 Hawaiian agricultural medals."

"Damon's will stated that the assets of the estate would be
held in trust until the death of his last grandchild. Last
November, the last surviving grandchild, 84-year-old Joan
Damon Haig, died in New Jersey. In December, the trust
began distributing assets to beneficiaries."

To read the complete story, see: Full Story

  Wayne Homren, Editor

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