The E-Sylum:  Volume 10, Number 27, July 8, 2007, Article 11

REVIEW: PRESIDENTIAL COIN & ANTIQUE CO. 77TH AUCTION

Speaking of Joe Levine, Alan V. Weinberg writes: "Joe Levine of
Clifton VA conducted his 77th Presidential Coin & Antique Co. medals
and tokens auction in Baltimore June 30 in connection with the
Baltimore coin show recently acquired by Whitman Publishing Co.
of Atlanta.

"This token, medal and political ephemera auction is now an annual
affair as Joe is now semi-retired. His catalogues, going back to the
early 70's, are notable for not only very rare material but the
historical background emphasized with each lot. Like Q. David Bowers,
Joe has always rightfully felt that an educated and informed client
is a stronger bidder, a long term collector and potential future
consignor.

"While PCAC was unlisted in the show's roster of bourse dealers and
Joe's booth was ignominiously isolated in a dark, extreme rear corner
of the huge convention hall bourse room (while centrally located booths
were unoccupied and unassigned), Joe's booth had a multiple-lamped
exhibition table away from the main bourse floor's maddening crowd
and bourse noise. So there was some benefit to the isolation.

"There was some eye-opening action Saturday night at the PCAC auction
in a quiet room on the 3rd floor of the convention center. The sale
featured a collection of American Agricultural and Mechanical Society
medals. This was the finest and largest collection of these often
aesthetically pleasing award medals ever sold at auction. Thus, the
catalogue will serve as a reference work on the subject until
someone produces a more comprehensive study.

"Aside from a decidedly strong bid book (mail, emailed and telephoned
absentee bids), there were some fierce floor battles between some
determined dealer/collectors and collectors on the floor. No bidder
collusion here although two of the main bidders were close friends
and sat across from each other. New price levels were set as some
medals soared over $1,000 apiece.

"The sale also featured the collection of Henry Clay political and
historical  medals and tokens of the late Pittsburgh coin dealer
and collector Charles Litman, an unrivaled assemblage of over 100
pieces. Several pieces soared over $2,000 each.

"But the highlight of the sale was the finest known Augustus Saint-
Gaudens  1905 Theodore Roosevelt bronze inaugural medal with accompanying
letter that sold for $44,850 to a prominent New York City numismatist,
a world's record price for this official medal, 1 of only 125 struck
by Tiffany & Co.  It might well have gone higher but for the tactical
error of the underbidder admittedly not realizing that his "cut bid"
was his final bid. This was also a new world's record for any non-gold
inaugural medal.

"Shortly afterward, the even rarer but less famous silver Warren Harding
inaugural medal sold for $40,825 to the aforementioned floor bidder who
was so disappointed in losing the Roosevelt medal. This is the 2nd high
world's record price for a non-gold inaugural medal. Inaugural medals
have been a specialty of PCAC for decades and the field is what it is
today largely because of Joe Levine's input.

"Throughout the auction, there was humorous banter both from the auction
podium manned by Joe himself and from the audience members which led to
a relaxed and entertaining three hours."

[I have a copy of the catalog with me here in London.  Of additional
interest to bibliophiles are lots 365 and 367, two different examples
of the 1909 Lincoln Centennial medal and Book.  The book in lot 367
is titled "The Lincoln Tribute Book".  Joe notes that "This is the
second and scarcest of the two books of the period with medals bound
in."  -Editor]

  Wayne Homren, Editor

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