LITTLETON PURCHASES EISENHOWER DOLLAR HOARD

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V14 2011 INDEX E-SYLUM ARCHIVE

The E-Sylum: Volume 14, Number 51, December 11, 2011, Article 18

Here's an article about Littleton's recent purchase of a huge hoard of Eisenhower dollars. There are a number of minting varieties and errors known today, and that will make sorting through the hoard a fun challenge. It will be interesting to see what turns up, and in what quantities. Why didn't I think about putting a bunch of these away when I was a kid? Oh, yeah, I didn't have $223,000... -Editor

A local coin company has just struck a bonanza in the collecting world, acquiring more than 220,000 Eisenhower one-dollar coins that had been stashed away in a Montana bank's basement for more than three decades.

A Littleton Coin Co. senior buyer flew to Montana to make the purchase from a private owner who kept them stored at the bank. The 223 Denver Mint bags - sewn shut in the 1970s with the brand new, never-circulated Dwight D. Eisenhower coins packed inside - then traveled across country to Littleton in an armored truck. The coins weighed 5.6 tons.

In a special staging area of the coin company, as many as 10 employees have been examining and grading the coins in preparation for putting them up for sale on Jan. 9, according to John Hennessey, the company's vice president of marketing.

"This is exciting. We're being careful not to disturb them," said Hennessey, who said experienced personnel skilled at handling valuable coins are performing the work. He said Littleton Coin is one of the nation's go-to companies for such a large transaction, and its purchase, worth "well over $1 million" is one of "a couple of major hoards" the company has acquired and offered for sale during his five years on the job.

They were shipped from the Denver Mint during the '70s to a Federal Reserve bank, and were then purchased by the Helena, Mont., seller who does not want his identity or specific location disclosed, according to the company's buyer, Ken Westover, who completed the purchase in one day in Montana after opening several of the canvas bags and determining the value of what he called the "hoard purchase."

"We've had several Midwest mega-hoards, but this certainly is a remarkable find," said Westover, who has been a buyer for the Littleton company since 1995.

"It's safe to say there is not a large quantity of Eisenhower dollars available. I'm not sure it was thought that a group like this would exist out there."

Asked if he knew why the seller bought so many of the coins, or sat on them for so long, Westover said, "No, he made no comment about that, unfortunately. But fortunately they did (buy and preserve the coins.)"

To read the complete article, see: Eisenhowers by the tons in Littleton (www.unionleader.com/article/20111207/NEWS02/712079971)

Wayne Homren, Editor