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The E-Sylum: Volume 17, Number 36, August 31, 2014, Article 5

SHERATON COIN COMPANY FOUNDER ERNEST HENDERSON

Web site visitor Mitzi Perdue submitted the following information about her father, numismatist Ernest Henderson, co-founder of the Sheraton Hotel chain and also co-owner of the Sheraton Coin Company. She also provided two portrait photos of her father. Thank you! -Editor

Sheraton Coin Co. Fixed Price List Winter/Spring 1947 I noticed in your January 9, 2011 issue of The E-Sylum that you have a query, “Can anyone tell us more about Henderson the numismatist?” In that article, you also included the Sheraton Coin Company’s 1947 fixed price list.

I can contribute some knowledge on this since I am one of Henderson’s daughters. My sisters, Augusta Henderson Petrone and Victoria Osborne are his other daughters, and my brother Barclay Henderson is his surviving son. As for myself, I’ve written about my late husband (Frank Perdue) and his role in collecting coins from the Atocha, including becoming one of the financial backers for the recovery of the treasure ship, Atocha.

Ernest Henderson My father Ernest Henderson was an avid collector. He used to talk about the rare coins he had, and how often it would happen that people who knew of his love of coins would send him coins on approval, but alas, they thought that they could improve the value of the coins if they polished them and made them nice and shiny! He carefully taught his children that part of the value of coins resided in their patina and we should never polish a coin. He also talked about the value of getting the best, and then once, when he was feeling philosophical, he told me that when thinking of the investment side of coins, “In general coins appreciate in dollar value at about the same rate as the stock market, but they’re a lot more fun.”

He used to tell us stories, which I wish I could remember better, about the more unusual coins in his collection, including excellent fakes, and even pennies from years when none were actually minted. I think his enjoyment of coins included admiration of the beauty of individual l coins, but he also relished their histories. It also made him exceptionally happy when he could acquire a coin that would fill in a blank in his collection.

I know the entire collection was sold at auction 67 years ago, August 26th, and also 27th, at the American Numismatic Association convention auction sale. I know the date because Greg Rohan from Heritage Auctions was kind enough to send me a copy of the auction catalogue. I have no idea why Father sold the collection, or what was going on in his life in 1947 that may have made this a necessity. For me, it’s a complete puzzle, given how much he loved the collection.

I’ll close with a quick story about my father and coins:

Father was a history buff, as would be predicted from having a father who was a history professor. At one of his dinners, his interest in history and coins enabled him to do something that actually changed history. But alas, almost no one knows about it.

Ah, but in mere moments, you Dear Reader, will know about it. At one of the dinner parties at 8 Louisburg Square he entertained the British ambassador, Baron Caccia of Abernant. At the end of the dinner, instead of serving coffee, as would have been usual, Father served tea.

But the tea was no ordinary tea. Father had once done a favor for a doctor, who in return gave him a small, blue, antique porcelain jar that contained 200-year old tea taken from the Boston Tea Party.

The men who started the American Revolution by dumping tea into the Boston Harbor were also frugal New England Yankees, and although they did dump a bale or two of tea into the harbor, most of the tea ended up in New England kitchens, heartily enjoyed.

But not all of it. Some of the revolutionaries/thieves, recognizing that the tea had historic significance, handed it down to their children, who handed it down to their children and so on until about a quarter of a cup’s worth reached my father.

Ernest Henderson 2 For the occasion of the dinner honoring Ambassador Caccia, my father served tea with a leaf or two of the original Boston Tea Party tea mixed in with regular orange pekoe. However, as he announced to the British ambassador, he didn’t want to embarrass the ambassador by offering him tea for which the duty hadn’t been paid.

I heard my father go on to explain that he had looked up the amount of the tax, and it was actually a small amount. Father had gone to a coin dealer (he collected coins so this was an easy thing for him to do), and bought antique coins that would actually cover the taxes that America owed on the tea that had been dumped.

Father produced an antique-looking leather purse and with a flourish, handed the purse with its coins to the ambassador.

I watched as the ambassador opened the strings of the purse, poured the coins into his palm, and then counted them. “I accept these on behalf of my government and Her Majesty, the Queen,” Baron Caccia intoned in an official-sounding voice, but then added in a graver, and still more official-sounding voice, “However, the interest on the indebtedness means that these coins do not cover the amount owed.”

He paused for drama, and then:

"In my role as ambassador, I am allowed to represent Her Majesty the Queen's government in overseas matters relating to taxes and duties. In that role, I forgive all interest accrued on this debt and pronounce the taxes now paid in full.”

And thus history was made.

I bet it was an evening that everyone present remembered a long time. What a gift for showmanship Father had!

That’s the end of my story about Ernest Henderson.

Sincerely,
Mitzi Henderson Perdue

Great story! In the earlier article, Henderson's first name was given as "Robert". Dave Bowers confirmed that it should have said "Ernest". I'm not sure how that happened, but I'm glad we've set the record straight. Thanks! -Editor

Mitzi Perdue adds:

I keep thinking how pleased I am that I came across your website. My siblings have all written to say how pleased they are that we’re all remembering such an important part of our father’s life.

To read the earlier E-Sylum article, see: ROBERT HENDERSON AND THE SHERATON COIN COMPANY (www.coinbooks.org/esylum_v14n02a18.html)

THE BOOK BAZARRE

UPDATE YOUR PAPER-MONEY COLLECTION! The new 4th edition of the Guide Book of United States Paper Money, by Arthur and Ira Friedberg, is now available for $24.95. Full color, 416 pages. Get your copy at Whitman.com or call 1-800-546-2995.


Wayne Homren, Editor

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The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org.

To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com

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