The E-Sylum:  Volume 9, Number 53, December 31, 2006, Article 2

LAKE BOOKS NUMISMATIC LITERATURE SALE #87

Fred Lake writes: "The 87th mail-bid sale of numismatic literature
by Lake Books is now available for viewing at
lakebooks.com/current.html

Selections from the library of Lawrence C. Korchnak are featured
in the 476-lot sale. Reference material is listed in areas of interest
such as United States Auction Catalogs and Books, World Coinage,
Ancient Coins, Paper Money, Tokens and Medals, Guidebooks, and an
interesting selection of miscellaneous items.

The sale has a closing date of Tuesday, February 6, 2007 at 5:00 PM(EST)
and bids may be placed via US Mail, telephone, email or FAX.

My duties as a member of the Board of Florida United Numismatists will
require that I be in Orlando, Florida for the annual FUN convention
until January 8, 2007, so I will not be available on the telephone
until then. Of course, your bids will be taken in order of receipt
during that time remembering that tie bids are won by the earliest
bid received.

For those of you who will be able to visit the FUN convention,
the latest information is shown on their website at
lakebooks.com/current.html.
Good Luck with your bidding."

[Larry Korchnak's an old pal of mine from the Western Pennsylvania
Numismatic Society.  His specialty is siege coinage and he has been
a contributor to the Standard Catalog of World Coins for many years.
His numismatic interests are wide-ranging, and he speaks to the club
on various topics yearly.

He had a bit of collecting advice that I took to heart early on, and
it paid off well.  I've long forgotten how he phrased it, but he
recommended saving up to collect a smaller number of really nice
pieces rather than assembling a large group of much lesser pieces.
Most of us are guilty of accumulating a lot of stuff that interests
us at the time, and there's nothing wrong with that as long as you
realize what you may be missing out on as a result.

I was convinced after looking up prices of a few selected pieces in
older editions of the Red Book.  To use just one example from the
1947 and 2007 editions, for the price of ten fine 1844 dimes at $10
each ($100 total) one could have purchased two uncirculated 1798 dimes
at $50 each.  The 1844 dimes list at $450 in 2007 ($4,500 total) and
the 1798s in MS-60 are $6,500 apiece ($13,000 total).  For a more
dramatic example, consider that the same $100 could have purchased
one uncirculated 1787 Fugio Cent (UNITED above, STATES below),
valued in 2007 at $15,000 in AU (not listed in Unc).

While Larry had settled on Siege coins as his specialty, I sought out
U.S. encased postage stamps and other rare Civil War era items.  To
acquire the better pieces in my collection I saved up, and to get the
most expensive ones I made arrangements with the dealers to make a
downpayment and send checks monthly.  I've never regretted these
investments, which have paid off well.  Thanks, Larry!]

  Wayne Homren, Editor

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