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About Us The Numismatic Bibliomania Society is a non-profit association devoted to the study and enjoyment of numismatic literature. For more information please see our web site at coinbooks.org Subscriptions Those wishing to become new E-Sylum subscribers (or wishing to Unsubscribe) can go to the following web page link Membership There is a membership application available on the web site Membership Application To join, print the application and return it with your check to the address printed on the application. Print/Digital membership is $40 to addresses in the U.S., and $60 elsewhere. A digital-only membership is available for $25. For those without web access, write to: Jeff Dickerson, Treasurer Numismatic Bibliomania Society P. O. Box 578, Weatherford, TX 76086 Asylum For Asylum mailing address changes and other membership questions, contact Jeff at this email address: treasurer@coinbooks.org Submissions To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com BUY THE BOOK BEFORE THE COIN Sale Calendar Watch here for updates!

 

Content presented in The E-Sylum is not necessarily researched or independently fact-checked, and views expressed do not necessarily represent those of the Numismatic Bibliomania Society.

WAYNE'S WORDS: THE E-SYLUM JUNE 23, 2024

New subscribers this week include: Eric Lindholm, courtesy Daryl Haynor. Welcome aboard! We now have 7,255 subscribers.

Thank you for reading The E-Sylum. If you enjoy it, please send me the email addresses of friends you think may enjoy it as well and I'll send them a subscription. Contact me at whomren@gmail.com anytime regarding your subscription, or questions, comments or suggestions about our content.

This week we open with NBS activities at the upcoming ANA convention, one new book, updates from the Newman Numismatic Portal, notes from readers, and more.

Other topics this week include Morgan dollar varieties, Liberty Seated coinage, sunken die errors, fixed price and auction offerings, the Society of the Cincinnati, early dated coinage, Pegasus on ancient coins, Charleston slave badges, and Farouk paper money.

To learn more about California Pioneer Fractional Gold, Stan Kesselman, the Polish levitating coin, US Mint coin bags, the Alfred Nobel silver medal, the Spingarn medal, the September Pope, and the godfather of Melrose, read on. Have a great week, everyone!

Wayne Homren
Editor, The E-Sylum

 

NBS ACTIVITIES AT THE ANA CONVENTION

NBS Activities at the ANA Convention

Once again, the ANA Convention will feature a full slate of NBS activities. Our club table on the bourse floor is 1321, conveniently located adjacent to book dealers Kolbe & Fanning and Charles Davis. Tom Harrison will be hosting the club table on Tuesday, with Jeff Dickerson taking over on Wednesday. Jeff has been learning the fine arts of bookbinding and will be doing a demo of box building for attendees. Boxes will be suitably sized to contain back issues of the The Asylum. This is your chance to create a one-of-a-kind commemorative of NBS history!

The NBS Symposium annually showcases presentations related to new books. This year's installment features author Robert D. Leonard, speaking on the upcoming third edition of California Pioneer Fractional Gold, while Len Augsburger will discuss the forthcoming bibliography of Eric P. Newman, to be published by Kolbe & Fanning. This event takes place at 1:00 PM in room 10.

The annual Charity Auction will occur during the NBS General Meeting on Friday, 11:30AM in room 12. Auction catalogs will be issued prior to the event so that bidders may plot their strategies accordingly. The Charity Auction provides a good portion of the NBS operating budget, and we thank donors and bidders for their support. In addition, we will present our literary award for 2023.

Finally, on Saturday, we will have a tour of the Dan Hamelberg library in Champaign, IL. Transportation and lunch will be provided but we do ask attendees to RSVP to me at leonard.augsburger@wustl.edu. This will leave from the Hyatt Regency in Rosemont at 9:30AM and return in the evening.

 

NEW BOOK: 1878 P 7 TAIL FEATHER ATTRIBUTION GUIDE

1878 P 7 Tail Feather Morgan Dollar Attribution Guide
by Leroy Van Allen

This is to announce that the 1878 P 7 Tail Feather Morgan Dollar Attribution Guide by Leroy Van Allen is now in digital form on Amazon Kindle for only $9.95. It was edited by Michael S. Fey, Ph.D.

This is yet another definitive reference by Leroy Van Allen showing all the things that can differentiate common 1878 7 TF (Tail Feather) Morgan silver dollars from rare die varieties and errors. Indeed, you will be treated to numerous instances of die varieties features along with copious pictures illustrating the differences between the variety/error and a normal 1878 7TF silver dollar. There were four major hub modifications in the first year of Morgan dollar production: 8 TF, 7/8 TF, 7 TF reverse of 1878 with parallel arrow feathers, and 7TF reverse of 1879 with slanted arrow feathers. This book focuses solely on the 7 TF reverse designs.

Included are descriptions and illustrations of the Top 100, Hot 50, and Hit List 40 Morgan silver dollars. You will learn about dual hub varieties, touched up wing feathers, long and short arrow feather nocks, reed counts, clashed E varieties, die gouges and breaks, denticle impressions and so much more.

Determining whether you have a common 7 TF Morgan silver dollar or a rare die variety worthy of a substantial premium could not be easier. You will never look at an 1878 7 TF Morgan silver dollar the same. Now, you conveniently can have it on your phone in digital form wherever you go from Amazon Kindle.

For more information, or to order, see:
1878 P 7 Tail Feather Morgan Dollar Attribution Guide (https://www.amazon.com/Feather-Morgan-Dollar-Attribution-Guide-ebook/dp/B0D74HHG9C/ref=sr_1_1)

ORIENTAL NUMISMATIC SOCIETY SUMMER 2024

Journal of the Oriental Numismatic Society
Summer 2024

CONTENTS

Two interesting coins of the Agra tribe
Devendra Handa

Why did the Elymaean king Kamnaskires IV strike coins at the Ecbatana mint?
Patrick Pasmans

Unfortunate coins indeed: A reply to Cribb et al. in JONS 249
Nikolaus Schindel

Notes on Aksumite coins in southern India
Wolfgang Hahn

A hoard of base silver srimadadivaraha drammas of Bhoja I from Jhelum, Pakistan Gul
Rahim Khan

Curious Vaishnavite coins from Gandhara
Joe Cribb, Aman ur Rahman and Muhammad Khalid

Experimental pattern coins of India (1956)
Dilip Rajgor

ONS News

Book reviews and notices

For more information, see:
https://www.orientalnumismaticsociety.org/

VIDEO: WESTERN MINT LIBERTY SEATED COINAGE

This features historical aspects of Seated coinage from the Western mints from the 1850's through the 1890's including:

• How Christian Gobrecht (1785-1844) became chief engraver at the Mint
• Use of the screw press to make coins and its limitations
• How dies were produced and why it created varieties
• Examples of "S" mint seated coinage including branch mint proofs
• Discovery of the Comstock Lode in the 1860's and the eventual building of the Carson City mint
• Unusual attributes of CC mint coinage
• How to tell rare CC die varieties
• Story of the 1870 coinage of the San Francisco mint
• Eventual closing of the CC Mint in 1893
• Resources available for collectors

Speaker(s): Darrell Low & Leonard Augsburger. Publication date: August 20, 2005.

To watch the complete video, see:
Liberty Seated Coinage of San Francisco and Carson City (https://youtu.be/tuh7I_0iBVQ)

STAN KESSELMAN INTERVIEW, PART ONE

GREG BENNICK: Hi, everybody. I'm Greg Bennick with the Newman Numismatic Portal, and I am doing an interview today with Stanley Kesselman. I'm excited for this interview. This is going to be absolutely great, and I'm really excited to get started. So, Stan, how are you today?

STANLEY KESSELMAN: I'm very fine. The weather's good, and the country's still here, so I'm happy.

GREG BENNICK: Good. That's a good start. I agree with that. I like the fact that we're all still here, so let's talk about coins. Tell me about your origins in coins. How did you get started in coins?

STANLEY KESSELMAN: I went from eighth grade, and I changed schools, and I went into ninth grade at a school called New Lincoln, which was situated on 110th Street in New York City between 5th and Lenox Avenue. That's where Central Park ends and Harlem begins. So, it was a very progressive school, and in the school, in my class, they had students who were 13 years old, and they collected coins. And I knew nothing about coins. And one of the boys was named Herbie Sondheim. He had a very famous brother named Stephen.

GREG BENNICK: Yeah, he did.

STANLEY KESSELMAN: Yeah, he did. And Herbie collected coins, and they were the Herring brothers. They collected a set of Indian head pennies, which they must be 80 years old, and they still have the original set, they never ever will sell it. And they became art dealers in the ninth grade, and they made fortunes. They collected the Rembrandt etchings, and they never sell. They just kept it. They have things there for sixty years on their walls. They never sell.

So, I got interested in coins, and I got especially interested in gold coins, because gold was better than copper. It still is. And the mintages of gold coins were much less than copper coins. So, like an 1880 quarter eagle, they made like 2,900 pieces. And a 1909 S-VDB penny, I think the mintage is 500 thousand. So, gold coins always interested me. And I bought one, and then I bought another, and then I bought another. And I went to a Lester Merkin auction. Who was a dealer in New York City, and he wouldn't let me bid, because I was under 18. So, I met a man there with a long beard, and he said he would bid for me, and his name was Walter Breen. So, that's when I first met Walter. And I bought an 1849-D quarter eagle in AU condition, like $58.

So, eventually, by doing this, I ran out of money.

GREG BENNICK: (Laughs)

STANLEY KESSELMAN: But I had an advantage over a lot of people, because a lot of people were married. I'm 17 years old, and they had expenses. I lived at home. I had no expenses. So, my availability for coins, money-wise, was probably equal to somebody, you know, 30, 40 years old in a business. He had to send his kids to college. He had to pay rent. I had no expenses at all. My father never charged me for food. So, I ran out of money, and I sold all my coins.

Then I went to another Lester Merkin auction, and he had an 1884 $20 gold piece in proof. And I paid $6,700 for it, and that was my total capital. I had one coin, and I took it home, and then I got very bored.

GREG BENNICK: What year was this?

STANLEY KESSELMAN: I would say 1967, 1968, something like that. Maybe early….no, it was earlier. Maybe 57. I can't remember. I was born in 44, so 17 and 44 is 61. All right. So, I had the one coin, and I'm out of the coin business, because I couldn't buy anything else. So, I went into Stacks. I was friendly with Norman Stacks. I was friendly with Harvey Stacks. I was friendly with Ben Stacks, and I knew their parents, Morton. And I said I had an 1884 $20 gold piece in proof, and Norman takes out his wallet, picks out a card, and he has around 20 coins on his want list, and this was one of them. So, I gave him the coin to sell, and I made $300 on it. So, now, I had $7,000, and I'm back in business. And I just kept on doing that kind of thing.

GREG BENNICK: That's amazing. Now, you never had a store throughout the years that you were dealing. You always worked in private sales. Isn't that right?

STANLEY KESSELMAN: I never had a store because I'm 18 years old and I went to college at Syracuse. I'm up in Syracuse for four years. Then I went to law school at Fordham and then I went to law school at NYU. I was never a full-time coin dealer. But at the time when I was active, there wasn't much competition. There were maybe three people in the country who would buy gold coins for inventory. No one else would. There were Brownlee and Rowe in Dallas, Texas. They had much more capital than I did. And they were competition.

The other competition was collectors themselves would go to auctions and put things together. And that is where you met your future customers who was at auctions because you bid against them and they come over to you. If you won, they say how much you want for the coin. And if they won the coin, you introduce yourself. So that's how I met Harry Bass and a lot of other people.

Ted Naftzger put together a collection of 20s. He had a lot of money and bought a lot of coins from Abe Kosoff. And he ended up with a lot of proof coins. And his family had an oil company in California. And eventually Chevron bought it. And he had a lot of Chevron stock. And he was an amazing person. He flew his own airplane. He raised cattle. And he had his own island off of California that he owned to raise the cattle. Yeah. And his main passion was large cents. He loved large cents, new varieties. And he always improved his large cents and he always improved his $20 gold coins.

And I remember I was at Syracuse. I had an 1863-S $20 in uncirculated condition, which was rare back then because there was no shipwrecks for the coins. And I sold him an 1863-S $20 in uncirculated for maybe, I don't know, $250. And he gave me his EF coin back for maybe $45 and paid the difference back then.

GREG BENNICK: Unbelievable.

STANLEY KESSELMAN: Yeah. So, I had a few, I had the best customers. And they were all much older than I was, much, much richer, you know. And first time I met Harry Bass at the auction, he said he discovered a new coin. And I said, Harry, what did you discover? He discovered an 1846-D with a D over D on the back, like a double mint mark. And I said, everybody knows that exists. It's in the book. And he said, no, I discovered the $5 one. The one in the book is a quarter eagle. And that's what happened. So, I thought he was stupid in the beginning. And then I found out, then I found out he was brilliant.

And he became the father to our whole generation of gold coin dealers. He taught us how to play backgammon, which he was in the Navy. And we played backgammon all night, but he loved to play for money. So, he would play for like $100 a point, which become a fortune.

GREG BENNICK: Yeah.

STANLEY KESSELMAN: So, Mike Brownlee and I would play against him for $50 a point. And we're playing in New York City. And we're losing $3,000, $6,000, $9,000. He's setting it up. He's setting it up. It's about four in the morning. And finally, we win two big hands and we're up $50. So, I get up, put on my coat, and he's setting up the board. And he says, Stanley, what are you doing? I said, I'm going home. And he says, What do you mean you're going home? I said, It took all night for me to get even. Now pay me my $25. I get half of the $50. And I'm going home. He takes the lamp in the room, throws it across the room, and says, I've been New Yorked. Reaches for his $25. And I'm just so happy to get out of there. It was just wonderful to leave. But he had somewhat of a temper.

GREG BENNICK: Wow. So, he got upset. He got genuinely upset.

STANLEY KESSELMAN: Yes, because he was having such fun for five hours. And after five and a half hours, he was losing. And it gave him no time for revenge. I was just happy to get out of there. You know, with $25, it was a miracle.

GREG BENNICK: That's amazing.

About the Interviewer
Greg Bennick (www.gregbennick.com) is a keynote speaker and long time coin collector with a focus on major mint error coins. Have ideas for other interviewees? Contact him anytime on the web or via instagram @minterrors.

To watch the complete video, see:
Stanley Kesselman Interviewed for the NNP by Greg Bennick (https://nnp.wustl.edu/library/book/638521)

To read the complete transcript, see:
Stanley Kesselman Interviewed for the NNP by Greg Bennick (Transcript) (https://nnp.wustl.edu/library/book/638520)

 

SUNKEN DIE ERRORS

My best guess is what I would call a 'Sunken Die' error, sometimes other terms like 'Die Subsidence error' are used.

You can read Dick Johnson's definition of Sunken Die here: https://nnp.wustl.edu/library/dictionarydetail/516860

In short, a sunken die has an area in the striking face of the die that becomes depressed (sunken, not sad) at some point during use. A slight depression may be difficult to detect by a casual observer of the object. More severe examples include die cracks and it is plainly evident something went wrong in manufacturing.

A few websites that discuss and show examples of die errors can be found here:

• https://www.coincommunity.com/forum/topic.asp?TOPIC_ID=306429
• https://www.error-ref.com/die-subsidence/
• https://www.coinworld.com/news/us-coins/unexpected-bumps-on-coins-surfaces-vary.html

Sunken die errors were more common on objects struck prior to the Industrial Revolution which brought better quality tool steel used for stamping dies. When a die did fail, companies would commonly continue to use them with the error instead of making a new die due to the time and costs involved in making a new die. In the case of events like a presidential inauguration the manufacture (Tiffany in this case?) was likely working on short lead times which is another reason they didn't make a new die.

Below is an example of what a sunken die looks like. This die was made by Rudolph Laubenheimer and was used to make a Civil War Token:

In your note you stated, "whether it was a poor minting job, over melted in some way I don't know." Stamping dies (as were used for your medals) are used by forcing solid metal into the design in a die, usually via a press. Not to be confused with a casting process in which molten metal is poured into a mold. Your medals were die struck, not cast.

To read the earlier E-Sylum article, see:
Vocabulary Term Sought : Vocabulary Term Sought (https://www.coinbooks.org/v27/esylum_v27n24a07.html)

NOTES FROM E-SYLUM READERS: JUNE 23, 2024

More on the 1896 Olympics
Steve Feller writes:

 

To read the earlier E-Sylum article, see:
NOTES FROM E-SYLUM READERS: JUNE 16, 2024 : 1896 Olympic Medal Copies (https://www.coinbooks.org/v27/esylum_v27n24a07.html)

More Banknotes in Books
Martin Purdy of Upper Hutt, New Zealand writes:

To read the earlier E-Sylum article, see:
MORE CARELESS CASH STASHES (https://www.coinbooks.org/v27/esylum_v27n24a25.html)

Polish Levitating Coin Update
Joe Boscia writes:

To read the earlier E-Sylum article, see:
In the never-saw-a-coin-do-THAT department, here's a levitating UFO coin from the Mint of Poland. -Edito (https://www.coinbooks.org/v27/esylum_v27n07a27.html)

More on the Mysterious C.W. Franklin Book
David Fanning writes:

To read the earlier E-Sylum articles, see:
WAYNE'S NUMISMATIC LITERATURE JUNE 9, 2024 (https://www.coinbooks.org/v27/esylum_v27n23a19.html)
CALVIN WESLEY FRANKLIN (1855-1911) (https://www.coinbooks.org/v27/esylum_v27n24a09.html)
MORE ON C. W. FRANKLIN (https://www.coinbooks.org/v27/esylum_v27n24a10.html)

Mystery Society of the Cincinnati Token
Bob Fagaly writes:

For more information on the Society of the Cincinnati, see:
https://www.societyofthecincinnati.org/

To read the earlier E-Sylum article, see:
101818 | UNITED STATES & FRANCE. Society of the Cincinnati in Virginia bronze Award Medal. : 101818 | UNITED STATES & FRANCE. Society of the Cincinnati in Virginia bronze Award Medal. (https://www.coinbooks.org/v25/esylum_v25n03a21.html)

Peru Wins Best New Banknote Series

De La Rue is pleased to announce that The Central Reserve Bank of Peru (BCRP) received the award for "Best New Series" 2024 at the High Security Printing Latin America conference in Santiago, Chile this month. Bringing the number of award winning banknotes, designed by De La Rue, up to four so far for 2024.

The BCRP's latest banknote series features emblematic figures of the 20th century such as Chabuca Granda, José María Arguedas, María Rostworowski, Pedro Paulet and Tilsa Tsuchiya; and symbols of Peruvian biodiversity such as the vicuña, condor, jaguar, hummingbird, cock-of-the-rock, and a variety of native flowers.

To read the earlier E-Sylum article, see:
Central Reserve Bank of Peru receives award for "Best New Series" (https://www.delarue.com/media-center/crbpbestnewseries2024)

HIGGINS MUSEUM SALES AND SEMINAR

Curator George Cuhaj writes:

Higgins Museum National Bank Note Seminar
As noted earlier, the Higgins Museum will sponsor a one-day symposium on National Bank Notes on Thursday, August 1st, 2024. Five speakers will be featured, including Joseph Boling, Jesse Kraft, Lee Lofthus, Cody Regennitter and Joe Ridder.

The registration fee will be $75 for participants, with a discount of $10 for members of Central States or the Iowa Numismatic Association. Registration includes morning coffee and a light lunch. The symposium will be held at the Higgins Museum, 1507 Sanborn Ave, Okoboji, IA 51355.

For additional information contact the museum curator, George Cuhaj at curator@thehigginsmuseum.org."

Jesse Kraft (Resolute Americana Assistant Curator of American Numismatics at the American Numismatic Society) will speak on "The Vigilantes of Iowa: Bringing Bank Robberies to a Halt in the 1920s and 1930s."

For more information, see:
https://thehigginsmuseum.org/

VOCABULARY TERM: PORCELAIN

Porcelain. A clay-based material with a slick slurry giving it a glass-like composition, as a Wedgwood medallion. Porcelain portraits, similar to those in metal, were developed to their pinnacle by Josiah Wedgwood (1730-1795), the famed potter of Staffordshire, England. A contemporary and friend of Matthew Boulton, the two innovators exchanged technical information as Boulton was building his Soho Mint. Wedgwood produced his portrait medallions with small bas- reliefs, either taken from existing medallic art or were created by a famed sculptor of the time, John Flaxman, or by William Hackwood, a staff craftsman of considerable talent.

Wedgwood porcelains were made in queen's ware, a glazed cream-colored earthenware, basalt, a vitreous black ceramic, or his own patented jaspar ware of green or blue colors. His firm's catalog illustrated the many decorative designs the firm offered, but the portraits were of popular interests including most prominent people of England, Europe (and a few Americans). His work was imitated by other ceramic firms but the Wedgwood firm still exists and produces some of these porcelain portraits. See ceramic.

The most familiar and popular numismatic items made of porcelain are the German coins and medals that were made from about 1920 to the present.

Reference:
NE40 {1984} Junge, p 272.

To read the complete entry on the Newman Numismatic Portal, see:
Porcelain (https://nnp.wustl.edu/library/dictionarydetail/516523)

THE COLLECTOR'S DISPOSITION DILEMMA

The recent sale of the Wayne Homren Library included lot 455, a corkscrew promoting the Minneapolis wine business of A. M. Smith. The lot description did not mention that Wayne got the corkscrew from me.

This is not a difficult item to acquire. There are currently four similar items on eBay for $27.50, $27.99, $34.95, and $41.19. Their condition appears to be equal or better than the Homren example.

My interest in A. M. Smith goes back to 1978. A co-worker brought in an A.M. Smith bottle he had dug out of a trash heap. The Minneapolis bottle collecting community was very familiar with Smith as a prolific issuer of bottles and advertising promotional items.

I was casually familiar with A.M. Smith as the author of numismatic books in Philadelphia. With a little research, I was able to determine they were the same person. Then I found he had written an autobiography, The Luck of a Wandering Dane. After reading that, I was hooked on collecting his stuff. This eventually provided material for an award winning exhibit at the 1996 ANA convention.

I believe my collection of A.M. Smith items is the largest such collection ever formed. I suspect I have more than fifty books and more than a hundred bottles and advertising items. A few items are unique and many could not be replaced in ten years of searching. The collection is far from complete, however. I have seen many additional items I have not been able to acquire.

That brings me to my dilemma. What should I do with the collection? I don't see it as a candidate for a numismatic auction. Too many items have a value less than $100. It would be a shame to break up the collection and disperse it among many collectors. I am not aware of any young collector interested in acquiring an extensive collection of A.M. Smith material.

The Hennepin County Museum has some Smith items. They might welcome the donation. Then the material could be packed away in archival boxes and never be seen again.

I learned something while working for a coin dealer. There aren't a lot of coins worth a million dollars. There also are not a lot of collectors who can buy a million-dollar coin. At the top end of the bobby, sometimes the collector is as rare as the coin.

I believe my A.M. Smith collection that I treasured, may not appear to be a treasure to any other collector. So, what is the best way to pass it on to the next generation? Do any E-Sylum readers have a similar experience to share?

To see the full A.M. Smith exhibit webpage:
The Challenging Literature of A. M. Smith (https://www.coinbooks.org/about/exhibit_amsmith.html)

To read the complete lot description, see:
An A.M. Smith Corkscrew (https://bid.numislit.com/lots/view/1-91D1ST/an-am-smith-corkscrew)

To read the earlier E-Sylum article, see:
WAYNE'S NUMISMATIC LITERATURE JUNE 9, 2024 : Lot 455: An A.M. Smith Corkscrew (https://www.coinbooks.org/v27/esylum_v27n23a19.html)

NUMISMAGRAM MEDAL SELECTIONS: JUNE 23, 2024

102765 | SWEDEN. Alfred Nobel silver Medal. Issued 1926. Commemorating the 30th anniversary of his death (45mm, 12h). By E. Lindberg for the Swedish Academy of Sciences. ALFRED NOBEL, bust left in frock coat // Pallas-Athena standing left, spearing tri-headed serpentine Hydra to left; in three lines in exergue, MALA • CORPORIS • ANIMIQVE / SCIENTIA / VINCET (may knowledge conquer the maladies of both mind and body). Edge: SILVER 1926. Ehrensvärd 268. PCGS SP-63. Light graphite gray in hue, with an alluring matte nature. A very rare and desirable issue paralleling the Nobel nominating committee medals, which were also done by Erik Lindberg. From a mintage of just 150 examples. $1,395.

Known for inventing dynamite and bequeathing his fortune in order to fund what would become the Nobel Prizes, Alfred Nobel was a prolific inventor who held over 350 patents. In 1864, he founded the Nitroglycerin Aktiebolaget (Nitroglycerin Corporation), the world's first manufacturer of nitroglycerin (which was vital in his patenting of dynamite a few years later).

As for the artist of this medal, Erik Lindberg was tasked early on with the creation of the Nobel Prize medals in 1901—the Nobel institution for the awarding of these prizes having been newly established. Outside of the Peace Prize (presented instead in Oslo) and the Economics Prize (created much later by the Sveriges Riksbank and not considered part of the Nobel canon), Lindberg's renditions continue to be used for the prize medals to this day, as well as the medals presented to the respective nominating committees. This medal, with its very small mintage of just 150 examples, comes in a larger format of 45mm (rather than 26mm for the nominating committee medals, which continue to be made and awarded). The bust style is also slightly modified from that of the nominating committee medals, and it features a reverse with the same Neoclassical flair as the Nobel Prize medals themselves.

To read the complete item description, see:
102765 | SWEDEN. Alfred Nobel silver Medal. (https://www.numismagram.com/product-page/102765)

102754 | ITALY. Vatican City. Pope Pius XI silver Medal. Issued Year XIV (1935). The canonization of the martyrs Thomas More & John Fisher (44mm, 37.41 g, 12h). By A. Mistruzzi at the Rome mint. PIVS • XI • PONTIFEX • MAXIMVS • ANNO • XIV, bust of Pius left, wearing ornate pallium, stole, and zucchetto // Nimbate, capped, and draped busts of Sts. Thomas More and John Fisher facing slightly right and left, respectively; in four lines in exergue, THOMAS • MORE • IOAN • FISHER / 4 • A • MARTYRIO • SAECVLO / SANCTI • RENVNCIATI / XIV • KAL • IVN. Edge: Plain. Bartolotti E 935; Rinaldi 129. Gem Mint State. Steely gray toning, with some deeper hues providing some highlights and a subtle matte nature throughout. $235.

Serving as the Bishop of Rochester and later as the Chancellor of Cambridge University, John Fisher was executed in 1535 at the order of King Henry VIII for Fisher's refusal to recognize the former as the supreme head of the Church of England. Sir Thomas More served as Lord High Chancellor of England under Henry VIII from 1529 to 1532, though his outspoken views against the reformation and Henry's break from the Catholic Church caused his downfall, with he too being similarly executed just a few weeks after Fisher. On account of their dedication to Rome, both individuals were canonized by Pius XI in 1935, with them sharing a feast day.

To read the complete item description, see:
102754 | ITALY. Vatican City. Pope Pius XI silver Medal. (https://www.numismagram.com/product-page/102754)

102662 | FINLAND. International Women's Year multipiece silver Medal. Issued 1975 (50mm, 248.60 g, 12h). By K. Räsänen for Sporrong. Top piece, obverse: Female head right, wearing earring and with hair strands billowing around her // Top piece, reverse: KAUKO RÄSÄNEN 1975, nude female in incuse, with hands raised, revealing heavily pregnant midsection. /// Middle piece, obverse: Fetus curled within womb // Middle piece, reverse: Exterior of the woman's midsection /// Bottom piece, obverse: Four nude females embracing, their bodies somewhat overlapping in design // Bottom piece, reverse: INTERNATIONAL WOMEN'S YEAR 1975, nude female in relief, with hands raised, revealing heavily pregnant midsection. Edge: 0124•1500. Hackl & Klose 70. Essentially as made. Argent-gray surfaces, with great brilliance and a two-toned nature. A stunningly tactile multi-piece medal that is a hallmark of Räsänen's work for the period. Includes original box of issue. $595.

No stranger to the multi piece medal, Kauko Räsänen designed this maternal-themed medal for the International Women's Year in 1975. The interior "side" of each of the two larger medals features opposing views in relief and in incuse of a pregnant woman, with her midsection detachable as a third, smaller medal that reveals the developing fetus.

To read the complete item description, see:
102662 |FINLAND. International Women's Year multipiece silver Medal. (https://www.numismagram.com/product-page/102662)

102757 | ITALY. Vatican City. Pope Ioannes Paulus I silver Medal. Issued 1978 to commemorate the death of the pope (43mm, 40.45 g, 12h). By C. Giampaoli at the Rome mint. IOANNES PAVLVS I P M, bust left, wearing zucchetto // HVMILITAS / 26-VIII 28-IX / MCMLXXVIII, personal coat-of-arms, surmounted by tiara and over keys crossed in saltire. Edge: Plain. Choice Gem Mint State. Richly toned and brilliant, with just a subtle print upon the zucchetto preventing an otherwise flawless designation. Includes original box of issue. $165.

This medal was issued after the death of John Paul I, as his reign was incredibly brief. Elected pope on 26 August 1978, he died a mere 33 days later on 28 September, garnering him the nickname of the "September Pope." Based upon the brevity of his reign and the time at which his death occurred in the calendar year, it also created the most recent "year of three popes," with the previous such year happening in 1605. His predecessor was Paulus (Paul) VI, and his successor was Ioannes Paulus (John Paul) II.

To read the complete item description, see:
102757 | ITALY. Vatican City. Pope Ioannes Paulus I silver Medal. (https://www.numismagram.com/product-page/102757)

ATLAS NUMISMATICS SELECTIONS: JUNE 23, 2024

1079091 | ROMAN REPUBLICAN. Marc Antony and Octavian. (Imperators and Triumvirs (43-33 BC). Struck circa 41 BC. AR Denarius. NGC AU? (About Uncirculated ?) Strike 5/5 Surface 5/5. Ephesus. 18mm. 4.10gm. M•ANT•IMP•AVG•III•VIR•R•P•C•M•BARBAT•Q•P (MP and AV ligate). Bare head of Marc Antony, right / CAESAR•IMP•PONT•III•VIR•R•P•C•. Bare head of Octavian right with touseled hair and long sideburn. Crawford 517/2; Sydenham 1811; Antonia 51; Barbatia 2; Julia 96.

Beautifully toned and sharply struck; given the star designation by NGC for exceptional eye-appeal.

Ex Numismatica Ars Classica (Zürich), Auction 125 (24 June 2021), lot 479. Ex Bolaffi Sale 34 (Turin) 2019, Lot 389. Includes NGC Photo Cert.

$9,500

To read the complete item description, see:
https://www.atlasnumismatics.com/1079091/

1078206 | FRANCE. Napoleon I. MDCCCX (1810) AR Medal. PCGS SP64. By Andrieu and Denon (Obv.) & Brenet and Denon (Rev.). Edge: Plain. 32mm. Laureated head of Napoleon conjoined with Marie-Louise, right; signed below truncation / The marriage couple standing, hands clasped, in front of a lit altar, decorated with a love bow and arrow over a torch of Hymen. Bramsen 952; cf. Julius 2261; Zeitz 110 (in Bronze); Trésor Tf.-39.2.

To commemorate Napoleon's wedding to Marie-Louise in Paris.

$2,695

To read the complete item description, see:
https://www.atlasnumismatics.com/1078206/

1079267 | GREAT BRITAIN. England. Elizabeth I. (Queen, 1558-1603). (1592-95)-(Tun) AV Half-Pound. NGC MS62. Tower mint. Crowned bust, left / Crowned shield divides E – R to either side. SCBC-2535, North 2009; Fr.-215.

6th issue. Extremely rare type in this quality.

Ex. Christopher Comber Collection, previously purchased from Mark Rasmussen privately in 2001 (St. James's Auctions Ltd. [London], Auction 48, 23 September 2021, Lot 137) .

$62,500

To read the complete item description, see:
https://www.atlasnumismatics.com/1079267/

1078400 | ITALIAN STATES. Livorno. Cosimo III de Medici. (1670-1723). 1713 AR Pezza della Rosa. NGC MS63. Florence. 26gm. COSMVS • IIID • G • M • DVX• ETRVRIAE •. Higher, narrower crown / GRATIA... Rosebush. KM 15.4; Dav.-1501; C.N.I. XI/45/88.

Includes original collector's ticket of Clelio Varesi.

$12,500

To read the complete item description, see:
https://www.atlasnumismatics.com/1078400/

1079290 | JAPAN. Man'en. (1860-1862). (1860-62) AV 10 Ryo Oban. PCGS MS64. Edo (Tokyo). 136mm x 79mm. 112.06gm. Crenulations with vertical calligraphic inscription in ink; four circular flower-stamps (or hanaoshi) composed of 5-3 pattern paulownia seals (????? or Maru ni go-san kiri) / Three stamps running down the middle with three smaller stamps to the lower left, (?) (?) (?). KM C-24a.2; JNDA 09-11; Fr.-7; Munro pl. 13/4.

Hammered Coinage. Machine-made horizontal crenulations. Man'en era.

Includes custom Japanese wooden box and facsimile of JNDA certificate #4882.

$69,500

To read the complete item description, see:
https://www.atlasnumismatics.com/1079290/

1079033 | SPAIN. Pedro I. (King, 1350-1369). (1350-69)-S AV Dobla de 35 Maravedís. NGC MS66. Seville mint. 4.56gm. +P?TRVS: D?I: GRA: R?X CAST?LL?: ? L?G:. Crowned bust of the king left / +P?TRVS: D?I: GRA: R?X: CAST?LL?: ? L:. Quartered arms with turrets in the first and fourth quadrants, and lions in the second and third, S in third quadrant. Fr.-108; Cayon 1282; MEC 532; Burgos/Benedito/Peres 330.

$24,500

To read the complete item description, see:
https://www.atlasnumismatics.com/1079033/

Updates to their online inventory are issued monthly.

For more information and to sign up for the firm's monthly newsletter, visit:
atlasnumismatics.com

SOCIETY OF THE CINCINNATI BADGE OFFERED

(Washington, George) — Society of the Cincinnati
William Floyd's membership certificate and badge, comprising:

a) Eagle badge, Designed by Pierre Charles L'Enfant (1754–1825), attributed to Duval and Francastel and associated firms, Paris, circa 1784.

Gold and enameled eagle with spread wings and legs on green enameled olive branches, head and tail feathers with white and black enamel, red enamel eyes, distinct eyebrows and black beak, head left within green and red enameled laurel wreath of figure-eight design through which a double suspension ring is attached. Oval medallion inset into the eagle's breast, the motto reads (from 7:00), OMNIA·RELINQT·SERVART·REMPB ?, in the center, two Roman senators present a sword to Cincinnatus against blue enamel sky and green enamel grass, rev., the eagle as above, but head right, the motto reads (from 11:00), ·VIRT·PRAEM·SOCI·CIN·RUM ?, INST·AD·1783, within medallion, Cincinnatus stands facing next to his plow, with sun and palisade behind, enameled blue sky and green ground, (40 x 25 mm); obverse chipping to tailfeathers, some minor losses to red and green enamels of the wreath and branch, the ribbon replaced.

The present eagle, of the larger type, corresponds closely in size, chasing, and enameling to the Tench Tilghman example (now in the Society of the Cincinnati Museum at Anderson House, Washington, D.C.). That specimen was one of the eagles ordered by Washington to present to his aides. According to Myers, there were two distinct sorts of eagles. The first group of 40 were somewhat larger than the other group of 140. The first were for those who had given him advance orders, and the best documented example of this variety is the Tench Tilghman eagle. See, Myer Myers, Jr., The Insignia of the Order of the Cincinnati, Washington, D.C., 1998, type 7, p. 20; pp. 46-47; see also General Nathaniel Greene's eagle, sold in these rooms, 20 January 2011, lot 177.

b) Engraved broadside document signed by George Washington ("Go: Washington") as President of the Society of Cincinnati, being the membership certificate for William Floyd, on vellum (478 x 355 mm), accomplished in a neat clerical hand, Mount Vernon, Virginia, 10 December 1785, countersigned by the Secretary of the Society ("HKnox"), engraved vignettes by Auguste L. Belle after Jean-Jacques Andre LeVeau depicting America in knight's armor trampling upon the British standard and the American eagle casting the British lion and Britannia out to sea with thunderbolts, roundel vignettes incorporating depictions of both sides of the eagle badge of the Order of the Cincinnati; some fading to accomplishment, particularly to Washington's signature, trimmed very close, shaving the engraving at sides and top, tack-holes in margins from former framing, some usual, natural wrinkling.

The Order of the Cincinnati was conceived of by Henry Knox, who wished to establish a fraternal organization for all officers who had served in the War for Independence and "any of their eldest male posterity." The Order was founded in early May 1783 at the headquarters of General Friedrich Wilhelm von Steuben at Verplanck House in Fishkill, New York. The three guiding principles of the organization were: First, "An incessant attention to preserve inviolate those exalted rights and liberties of human nature, for which they have fought and bled. …" Second, "An unalterable determination to promote and cherish between the respective States, that union and national honor so essentially necessary to their happiness, and the future dignity of the American empire." Third, "To render permanent the cordial affection subsisting among the officers. This spirit will dictate brotherly kindness in all things, and particularly, extend to the most substantial acts of beneficence, according to the ability of the Society, towards those officers and their families, who unfortunately may be under the necessity of receiving it."

The concept of using Cincinnatus as an emblem of the Order was particularly resonant with Americans since the life of this mid-fifth century Roman nobleman and farmer closely paralleled that of many who had served, with George Washington in the vanguard. Lucius Quinctius Cincinnatus was called upon to repel two hostile tribes that threatened Rome. He issued his orders, which were efficiently carried out, and vanquished the enemy. Although elected a dictator for six months and voted a triumph by the Senate, Cincinnatus stepped down just after fifteen days and returned to private life on his farm. Similarly, at the conclusion of Treaty of Paris, Washington returned to his Mount Vernon home.

To read the complete lot description, see:
(Washington, George) — Society of the Cincinnati | William Floyd's membership certificate and badge (https://www.sothebys.com/en/buy/auction/2024/fine-books-and-manuscripts-including-americana/washington-george-society-of-the-cincinnati)

To read earlier E-Sylum articles, see:
LAFAYETTE'S GOLD CINCINNATI SOCIETY MEDAL TO BE SOLD (https://www.coinbooks.org/esylum_v10n49a11.html)
CATALOGUE: SOTHEBY LAFAYETTE GOLD ORDER OF THE SOCIETY OF THE CINCINNATI (https://www.coinbooks.org/esylum_v10n50a07.html)
REVIEW: SOTHEBY LAFAYETTE GOLD ORDER OF THE SOCIETY OF THE CINCINNATI (https://www.coinbooks.org/esylum_v10n51a07.html)
HAMILTON'S SOCIETY OF THE CINCINNATI MEDAL (https://www.coinbooks.org/v21/esylum_v21n46a26.html)

 

DAVISSONS: EARLY DATED COINAGE

E-Auction 49 closes on Wednesday, June 26th 2024! The sale features a fascinating small consignment of early dated coinage, which Allan discusses below, followed by a brief overview of the rest of the Byzantine, medieval, world, and medal sections.

Dates on coins are a really big deal. Add a mintmark on a U.S. coin and it can be even more costly (look up an 1893 Morgan dollar with a small S on the reverse…). Though coins had dates on them prior to the 13th century, coins using the calendar numbering system we use today did not appear until 1234 A.D. Though there were a few rare and seldom seen issues earlier, it was not until the 15th century that coins appeared in quantity with dates referencing the calendar we now use.

The coins were predominantly silver or billon—silver mixed with varying quantities of base metal. The typical denomination was a silver groschen, a thin piece about the diameter of a U.S. quarter (or British shilling). Prior to the 16th century, coins dated in this manner were issued in continental Europe, ranging from Scandinavia in the north to Italy in the south. The most frequent designs were arms and shields or other official symbols or images of saints. (Three of the pieces in this catalog are particularly interesting because they feature a medieval image of Charlemagne seated on a throne.)

The dates themselves refer to the Julian calendar but some are in Roman numerals, some in Arabic numerals, medieval numerals and, accordingly, with varying numbers of numerals.

The calendar that we—and most of the world—now use had its origin in the Julian calendar, a reformed method of dating that Julius Caesar introduced in 46 B.C. A Christian monk in Africa established the starting point for the Julian calendar in the Sixth Century by first rejecting Diocletian as the principal reference point in use at the time, and then counting back using historic resources he had access to in order to determine that the Incarnation of Jesus Christ had occurred 525 years earlier and declaring that the beginning—Year One.

The Julian calendar in use in the 6th century was 11 minutes off the actual solar cycle. By the 16th century the calendar was so out of phase with the actual seasons that calculating the actual date of Easter (the first Sunday after the first full moon on or after the first Sunday after the vernal equinox) was not possible. This led Pope Gregory III in 1582 to add a date to February every four years—and skip the leap year date once every 400 years on the centurial year. This is the calendar most of the world continues to use.

Anno Domini—A.D. –In the Year of Our Lord, appended to a number is familiar in coin catalogs and the dating commonly used by the numismatic press. Now, numismatics is one of the few disciplines where the A.D. designation is generally used. Most other scholarly publications use C.E.—Common Era, and "B.C.E."—Before the Common Era, to designate dates.

Allan Davisson

(The standard reference for this area: Robert A. Levinson. The Early Dated Coins of Europe 1223-1500. New Jersey. The Coin and Currency Institute. 2007)

The sale also includes several interesting Byzantine and Crusader issues, along with a handsome world section of both silver and gold. And at the end, a few select medals - British war medals from 19th and early 20th century conflicts, alongside several other attractive pieces both classic and contemporary.

We will return with surveys of the British token and U.S. sections, and then the close will be just about here!

Thank you for your interest.

Please feel free to contact us with any questions by replying to this email.

You may bid through the website, or via:

• Mail: Davissons • PO Box 323 • Cold Spring MN 56320
• Email: info@davcoin.com
• Phone: (320) 685-3835
• Fax: (320) 685-8636

To view all the lots in this auction, see:
https://davcoin.com/sale/E-Auction%2049

To read the earlier E-Sylum articles, see:
DAVISSONS E-AUCTION 49 (https://www.coinbooks.org/v27/esylum_v27n22a18.html)
DAVISSONS E-AUCTION 49: LELAND SCOTT COLLECTION (https://www.coinbooks.org/v27/esylum_v27n24a15.html)

THE TCNC JULY 2024 RCNA SALE

Featuring in this auction; An elusive Boston Marathon Gold Medal, a splendid Newfoundland $2 Gold Set and an amazing selection of Maritimes coinage. Two Gold $5's & $10's 6-Coin Sets, A stunning 1890H 50 cents PCGS Choice AU-55, A Superb 1921 25 cents in Gem Mint State-66. A 1920 50¢ Narrow O, PCGS Superb Gem Mint State-66, an 1884 10¢ PCGS Choice Mint State-62, a 1982 $1 Nickel - Constitution UPSET Die / Coin alignment PCGS Gem Mint State-65.

A unique 1876 $10 Standard Bank, a lovely 1924 $5 Queen Mary in Choice VF, a 1935 $1000 Choice UNC-64, a 1935 $25 in Gem UNC-65 and a wonderful selection of the 1935 & 1937 series. In addition, a superb selection of very scarce Proof and Specimen banknotes and several others including Rare Serial number issues and error notes. Again, The Brown Family Collection Part III holds a premium selection of rare and carefully chosen banknotes. Two Jewels from The Wildlife Museum Collection is a 1923 $1 banknote set and a 1935 $500 Specimen in Gem UNC-66. Enjoy!

Lot 380: Boston Marathon Gold Medal; Rare US Gold Medal offered to the Winner of the 1937 Boston Marathon, Walter Young - a relatively unknown runner from Verdun Quebec, Canada he defeated the second place runner, John A. Kelley, by over six minutes and is one of only a handful of Canadian to have won this prestigious race. The 1937 Boston Marathon took place during a period of heightened international tension, with the threat of World War II looming large. Despite these uncertain times, Young's victory provided a sense of inspiration and hope to many.

He was born March 14, 1913 in Lime Ridge, Quebec. Medal shows date 1937 enameled, w/1st Prize inscribed on back but no name attribution. That being said all corresponds to Walter Young and his historical win. Young did return to win the Bronze medal in 1939. Included within this lot, is a vintage American Waltham Pocket Watch Openface (movement number 2830921) dating 1934, plated 10kt Gold. Inscribed on back 1936 Yonkers Marathon''.

The typed story pictured/supplied in the lot indicates that this was offered to Young as a prize for a 3rd place finish in the 1936 North Medford Club 20 mile race. A great historical story with both Canadian and American importance. The Medal should hold significant value to collectors due to the prestige and history associated with the race. Weight of medal 38,3 grs.

Lot 360: The Standard Bank of Canada 1876 $10 #12818 CH-695-10-06 LCG Choice Fine-15. This is the first note of its kind that we have had the opportunity to offer through our sales. This note should be considered as a new find, possibly unique and of the highest Rarities. This example should well supersede estimated prices. A solid example. The body of the note is extremely well preserved and visually outstanding.

Off the scale as rarity is considered and should be included in the best of collections. This would be an important addition to a major Canadian Museum, financial institution collection or a major highlight of a personal collection. Among the most impressive and most significant banknotes we have ever sold in our auctions. A ‘tasty' find for any serious collector and will most certainly serve as an absolute treasure in their collection. Once-in-a-lifetime opportunity! Expect strong bidding.

To read the complete .pdf catalog, see:
https://www.canadiancoinsandpapermoney.com/wp-content/uploads/2024/06/TCNC-RCNA-July-2024-LR.pdf

To view lots online, or to bid, see:
https://auctions.canadiancoinsandpapermoney.com/auction/229/2024-rcna-auction-major-sale

 

WAYNE'S NUMISMATIC DIARY: JUNE 23, 2024

First, a little catch-up. Last Friday, June 14 (Flag Day!) I spent the afternoon in Baltimore at the Whitman Summer Expo. This is the smallest and slowest of the three annual shows, but still a good opportunity to catch up with people - at least, if you don't arrive late, which I did following a longer than expected pitstop for routine car maintenance.

I parked at the nearby Sheraton hotel and was amused by this sign. Luckily I didn't need to hoof it up that set of stairs.

Once I registered and got into the bourse around 2pm I scouted the periphery and a number of dealers were closing up shop or already gone for the day. Some E-Sylum supporters were still in attendance - I spoke briefly with Julian Leidman, but Wayne Herndon and Jon Sullivan were busy with customers. I talked a while with Melissa Kahn about Robert Powers' latest variety guide books and some ANA Convention medals I was tracking down for a friend.

Next I met up with Newman Numismatic Portal Project Coordinator Len Augsburger, and we sat on a couple empty chairs to catch up on some new and potential content, including videos, transcripts and archival material. Len is also the President of our sponsor the Numismatic Bibliomania Society, and we switched gears to sync up on advertising and content for The E-Sylum, including the great work Garrett Ziss has been doing to assist me as editor. We wrapped up with activities planned for the ANA World's Fair of Money® convention in August.

It was a short coin show visit. Len had a plane to catch and I was going to meet my family and visiting relatives for dinner back in Virginia. So I headed home, but not before snapping photos of a couple more signs.

On my way out, all of us in the convention center lobby were surprised by the roar of jet engines close overhead. The airport isn't THAT close. It turns out that Flag Day brought "Maryland Fleet Week & Flyover Baltimore presented by Northrop Grumman" to the city with fighter jets rocketing over the harbor and downtown. Some show attendees stood outside taking photos.

Montpelier Mansion
Moving ahead to this past week, Tuesday June 18th brought the regular dinner meeting of my northern Virginia numismatic social group Nummis Nova. But I had the opportunity to leave work early that day, and with a little time to kill I made a short side trip to an historic site in Laurel, MD.

Montpelier Mansion was built in the early 1780s and was declared a National Historic Landmark in 1970, primarily for its architecture. The home and 70 acres remain of what was once a slave plantation.

This was a real spur-of-the-moment decision, and I arrived to learn that the mansion was closed Tuesdays and Wednesdays. But all was not lost - I was able to tour the grounds under the sweltering hot sunshine. Here are some photos.

I'll have to come back another time to tour the mansion. Check it out if you're ever in the area.

For more information, see:
https://www.google.com/travel/hotels/entity/ChYI-LjOub6e-5xcGgovbS8wMncyenBuEAQ
https://en.wikipedia.org/wiki/Montpelier_Mansion_(Laurel,_Maryland)

Nummis Nova
Traffic was interesting. I was stopped at a traffic light only a couple miles away from the restaurant when two police cars pulled off the shoulder and blocked the road ahead. One officer got out and came over to tell me it was going to be closed a long while and that I "might want to take that ramp..." That ramp put me on a highway in a very different direction, but after going about six miles my GPS directed me to some winding local roads that eventually got me to the destination.

Our host Jon Radel chose the Afghan restaurant Aracosia McLean, where we'd dined a couple times before. The place was busy with a number of parties already seated when I arrived around 6pm. Robert Hoppensteadt and Mike Markowitz came in next. Robert had had traffic issues too, passing a couple accidents and a procession that had all the trappings of a presidential motorcade, which might have been the cause of my detour. Not an uncommon sight here in the Washington area.

Mike and Robert are our ancient coin experts, and we had a good discussion about recent auctions, a new exhibit and friendly curator at Dumbarton Oaks, and Mike's recent trip to Greece, where he visited the Numismatic Museum. Before long we were joined by my guest Jonas Denenberg, Julian Leidman, Jon, Daryl Haynor, Wayne Herndon and his guest Evan Saltis. The last seat was filled by another guest, an old friend who just moved to Alexandria, VA - John Kraljevich, Director of Numismatic Americana at Stack's Bowers Galleries.

To read the earlier E-Sylum article, see:
JOHN KRALJEVICH JOINS STACKS BOWERS (https://www.coinbooks.org/v27/esylum_v27n23a11.html)

Here are some photos.

Robert Hoppensteadt as Mike Markowitz, Jonas Denenberg and Julian Leidman get the conversation started

Group photo by a friendly fellow diner using Daryl's phone. Clockwise from left: Julian, John, Evan, Wayne, Daryl, me, Jon, Robert, Mike and Jonas

Wayne's Numismatic Literature
I brought along some literature to pass around.

These are Robert Powers' new guides to U.S. Coin Die Varieties

To read the earlier E-Sylum article, see:
NEW BOOK: U.S. COIN DIE VARIETIES (https://www.coinbooks.org/v27/esylum_v27n24a02.html)

I also brought along the catalog of the Kolbe & Fanning auction of the second part of my numismatic library. The sale did very well.

The item on the right above was my welcome gift for JK - a program for the 1994 NAACP Spingarn medal award ceremony in Chicago, where author Maya Angelou received the prestigious gold medal from host Oprah Winfree. His face lit up like a kid on Christmas morning. He owns two of the medals, but had never seen one of the programs. I'd purchased it in April on AbeBooks from a dealer in Connecticut.

To the right is another book I'd purchased recently, after a tip from Richard Lobel of Coincraft. The 1974 biography of white collar con man Patsy Lepera spills the beans on dozens of financial scams involving fake stocks, sunken treasure, gold shipments, bankers, stock brokers, and the coin dealer he helped take public in an overpriced stock offering.

Here are some of the numismatic items passed around the table. See below for more details.

First Struck 1909 Indian Cent
Daryl Haynor passed along this info about his first struck 1909 Indian Cent.

The 1909 Indian Head Cent is graded MS64 BN and is accompanied by an original cardboard tag on which is written THE FIRST CENT COINED / AT THE UNITED STATES MINT / AT PHILADELPHIA ON JAN. 2'', / (signed) RHINE R. FREED, COINER. Also included in this lot is the original auction envelope from this coin's sale in Wayte Raymond's auction of April 29, 1941, on which is written 1909 CENT INDIAN HEAD [lot number] 933 / FIRST PIECE COINED AT / PHILA. MINT IN THAT / YEAR. IN CARD SIGNED BY / THE COINER.

LEFT: the "Black Stone of Paphos". RIGHT: Slabbed First Struck 1909 Indian Cent

Robert's Ancients
Robert passed along these photos and descriptions of his ancient coins.

Cyprus, Paphos, Geta Geta Æ32 of Cyprus. AD 198-212. Laureate heroic bust of Geta right in high relief / Temple of Paphian Aphrodite within which cone (a meteorite that can still be seen at the Cypress museum) , crescent and star on top of temple, roofed wing on each side within which candelabrum stands, dove on roof of each wing, paved semicircular court before temple. SNG Copenhagen -; RPC -; BMC -; SNG von Aulock -; SNG Turkey -; SNG Levante -; Cf. SNG Copenhagen 92 var. 16.15g, 31mm, 5h.

Ex Roma

Sold as apparently unique and misidentified as Caracalla. But another (holed) example is illustrated in Daniella Parks The Roman Coinage of Cyprus and a third was sold by Naumann a few years ago.

Second one - Fairly common AE34 from Amasia struck for Severus Alexander. This has a scarcer bust type and one of my favorites from the series that uses the whole flan. Reverse Altar of Zeus Stratios with tree to the left, topped by an eagle and facing quadriga. Very little wear on this example, hair is sharp as are the bricks on the altar. High relief in hand. RPC VI 6475.29 this coin.

Thanks, everyone. It was another wonderful evening of numismatic fellowship.

PEGASUS ON ANCIENT COINS

THE DREAM OF flight has always held a powerful grip on the human imagination. Pegasus, the flying horse of Greek mythology, symbolizes that dream, and this winged white stallion appears on many ancient coins. A recent search for the term Pegasus on the CoinArchivesPro database (which documents over two million auction records during the past two decades) produced 25,155 hits! There are hundreds of different types, extending over eight centuries. In what follows, I describe a selection that I hope will be most interesting to CoinWeek readers.

The first reference to Pegasus in literature is Hesiod's Theogony, dated to the late eighth or early seventh century BCE. The magical flying horse and his brother Chrysaor, a flying boar, were born from the blood of the monster Medusa when the hero Perseus cut off her head:

Pegasus appears at the very dawn of ancient coinage on an electrum trite (one-third stater, 4.75 grams) from an uncertain mint in Ionia on the eastern shore of the Aegean Sea.

One of the largest and heaviest ancient coins depicting Pegasus is a silver dekadrachm (or five-shekel piece) of 38 grams (more than the 31-gram troy ounce!) issued by the Carthaginians in Sicily, probably to pay mercenaries during the First Punic War. The cryptic Punic inscription is b'rst (in the land). This muscular Pegasus may be copied from a stater of Agathocles, King of Syracuse (317-289 BCE).

To read the complete article, see:
When Horses Flew: Pegasus on Ancient Coins (https://coinweek.com/when-horses-flew-pegasus-on-ancient-coins/)

CHARLESTON SLAVE BADGES ONLINE

The Smithsonian's National Museum of African American History and Culture recently acquired what is thought to be the largest and most complete set of historic Charleston Slave Badges. The collection includes 146 rare badges dating as far back as 1804. It also features badges with makers' marks and two with personalized inscriptions. To share the stories of these objects with a worldwide audience, the museum has launched a Searchable Museum feature at SearchableMuseum.com/SlaveBadges, which tells the historical significance of Charleston Slave Badges and the museum's recent exciting acquisition.

We are honored to share the story of enslaved African Americans who contributed to building the nation, said Mary Elliott, NMAAHC museum curator. It is a story that involves the juxtaposition of profit and power versus the human cost. The story sheds light on human suffering and the power of the human spirit of skilled craftspeople who held onto their humanity and survived the system of slavery, leaving their mark on the landscape in more ways than one.

Through this digital offering, visitors can engage with the objects and learn about the legislated system of leased enslaved labor in Charleston, South Carolina, those who profited from the system and how enslaved African Americans navigated the landscape of slavery using their abilities, skills and intellect. In addition to providing the history of Charleston Slave badges, the new Searchable Museum feature will provide insight into collecting, archaeology, the role of vocational training and the meaning of freedom.

The Slave Badge system was initially legally instituted in Charleston in 1783 as a form of control and a source of profit. The badge system required that enslaved African Americans whose labor was leased out by their enslavers wear registered identifying badges. The badges identified the occupation of the enslaved laborer, whether as a skilled craftsperson or a servant. It was a form of control and surveillance over African Americans who had limited autonomy to move about the city conducting work—but today they are reminders that the enslaved were skilled workers who built much of Charleston.

Enslavers paid a registration fee to the city for each enslaved person whose labor they leased out and, in turn, the city provided the badges that registered leased enslaved laborers were required to wear. Enslavers profited from money earned leasing out the labor of skilled African Americans, while the city received profit and gained the benefit of the skilled work of enslaved African Americans who, essentially, built Charleston's urban landscape.

Enslaved African Americans, bearers of the slave badges, served in various capacities as indicated by the badge labels, including skilled mechanics, porters, fishers, fruiterers, carpenters, porters and servants. Although the badges served as a form of control, those who wore them had some degree of autonomy to move about the city while conducting work. This provided greater opportunities for communicating with a wider network of enslaved Black people. In some instances, they were also able to keep some of the money earned from their labor, which helped toward purchasing freedom for themselves and loved ones.

The recently acquired historic collection was compiled by renowned collector Harry S. Hutchins Jr., who, along with co-authors Brian E. Hutchins and historian Harlan Greene, wrote and published the book Slave Badges and the Slave Hire System in Charleston, South Carolina, 1783–1865 , which is highly regarded among collectors.

For more information, see:
https://www.searchablemuseum.com/the-charleston-slave-badges

To read the complete article, see:
National Museum of African American History and Culture Acquires Largest Collection of Charleston Slave Badges (https://www.si.edu/newsdesk/releases/national-museum-african-american-history-and-culture-acquires-largest-collection)

To read an earlier E-Sylum article, see:
SLAVE HIRE BADGES OF CHARLESTON, SOUTH CAROLINA (https://www.coinbooks.org/esylum_v18n19a14.html)

1864 MASONIC ENGRAVED HALF DOLLAR OFFERED

On April 5, 1864, a fire destroyed the Boston Masonic Lodge known as Winthrop House, causing significant loss, including a number of silver ceremonial implements. The silver from these implements was recovered in the days after the fire and sent to the Philadelphia Mint to be coined into half dollars, which were in turn sold for $1 each to raise funds for the temple's reconstruction. Each of the handful of known pieces is engraved to an individual person.

Stack's Bowers Galleries is excited to offer one of these unique pieces of Boston Masonic history, a coin with an improbable, charming story, in its August 2024 Showcase Auction.

At the time we last auctioned an 1864 Boston Masonic Lodge half dollar, in spring 2022, roughly eight were known. Some experts on Masonic history think there are likely more, but at time of writing, nine are known, including this one. Expert consensus holds that the engraving was done outside of the Mint, likely by a silversmith or jeweler in the city.

The coin was engraved to William Bogle, a Brother at the Masonic Temple that provided the silver. He emigrated to the United States from Scotland in 1840, settling in Boston, later North Malden, and establishing a hairdressing and wig making business on Washington Street in downtown Boston. He made his fortune selling hair care products of different kinds. He joined the Freemasons at the Lodge of St. Andrew in Boston in 1849 and was a charter member of the Wyoming Lodge, which was established in Melrose, Massachusetts in 1856.

Bogle was a member of other Boston fraternal organizations, including the Scots Charitable Society and the Ancient and Honorable Artillery Company of Massachusetts. Some historical sources credit him with suggesting the name of Melrose, Massachusetts (formerly North Malden).

He died in 1891. The Boston Post ran an obituary that described him as godfather of Melrose and offered this: In his early years he took quite a lively interest in local affairs of the town and was prominent in its town meetings but alwa[y]s declined any public office.

The consignor reports that they received this coin in change at a fast food restaurant decades ago. Owing to its unusual design, they kept it and presented it to a numismatist last year.

Our cataloger's assessment of the coin's appearance: Beautifully and naturally retoned surfaces are dressed in warm dove and pewter gray shades. Hand-engraved with great skill in the left obverse field to WM. BOGLE, and with BOSTON / ENCAMPMENT in the right field. The reverse is similarly engraved around the central device, TAKEN FROM THE RUINS OF MASONIC TEMPLE / APRIL 6, 1864.

To read the complete article, see:
STACK'S BOWERS GALLERIES TO OFFER RARE 1864 BOSTON MASONIC LODGE SEATED LIBERTY HALF DOLLAR (https://stacksbowers.com/stacks-bowers-galleries-to-offer-rare-1864-boston-masonic-lodge-seated-liberty-half-dollar/)

To read the earlier E-Sylum articles, see:
1864 MASONIC ENGRAVED HALF DOLLAR (https://www.coinbooks.org/esylum_v17n23a19.html)
MORE ON THE 1864 BOSTON MASONIC TEMPLE HALF DOLLAR (https://www.coinbooks.org/esylum_v18n03a21.html)
BOSTON MASONIC TEMPLE ENGRAVED HALF DOLLARS (https://www.coinbooks.org/v22/esylum_v22n04a12.html)

BRITISH ARMY DROPS CHINESE-MADE BADGES

Because of concerns that Beijing might have inserted eavesdropping devices into Chinese-made insignia, British Army officials have postponed releasing new military badges that were intended for the King's coronation.

All British Army regiments having a Royal crest on their caps or berets will receive the new emblems because King Charles's preferred Tudor design is taking the place of the St. Edward's crown, which was the favorite of the late Queen Elizabeth.

However, according to the Financial Times, the British business in charge of designing the badges will produce a batch in facilities in China, which has caused a delay in their creation.

Chiefs of the Ministry of Defence are worried Beijing would put tracking devices in the insignia so they could snoop on British soldiers and officers.

Leidos, an American company, has been awarded a £3.9 million contract by the Ministry of Defence to redesign badges, medals, and ribbons.

In turn, the American company subcontracted Wyedean Weaving, a company situated in Yorkshire, to make the badges.

To read the complete article, see:
https://www.firstpost.com/world/british-army-wary-of-chinese-spying-delays-inducting-new-badges-13783301.htm (https://www.firstpost.com/world/british-army-wary-of-chinese-spying-delays-inducting-new-badges-13783301.htm)

ON FAROUK COLLECTION PAPER MONEY

One of the most famous coin collectors in history, King Farouk I of Egypt (1920-1965) was a very active numismatist who amassed perhaps the greatest coin collection ever assembled. His collection contained many rarities, highlighted by an extensive United States collection, which included the only 1933 double eagle in private hands. When the Egyptian monarchy was overthrown in July 1952, King Farouk went into exile and the Egyptian government took possession of the collection. Less than two years later, in early 1954, the British auction firm Sotheby's sold 2,798 lots in Cairo over the span of 11 days. Known as the Palace Collection of Egypt, to this day the auction is regarded as one of the ultimate events in numismatic history.

The sale was painstakingly put together by Sotheby's employee John Synge, who spent 11 months preparing the auction catalog. Only a fraction of the items were photographed; most lots offered more than a single item with little regard for rarity. For example, the now famous 1933 double eagle was presented in a mixed lot of 17 $20 gold pieces, including other great rarities. While the lot was the highest grossing in the sale (hammering at 2,800 Egyptian Pounds, or about $8100 at the time) this price represents a fraction of the many millions of dollars the same coins would bring at auction today.

While collectors may know that King Farouk collected paper money, less well known is that this auction offered paper currency as well. During the last session, on March 6, 1954, the final lots of the sale (2501 – 2798) were presented. At the tail end of the day, even after the miscellaneous items were sold, the collection of bank notes (lots 2743 to 2798) crossed the auction block. The notes were grouped primarily by country or region, with certain lots featuring a large number of notes from a specific region. The notes were not described very well, and unfortunately no serial numbers were recorded. A typical description of paper money in the sale is lot 2752, which offered paper money from Estonia, Lithuania, Latvia and Finland:

This blog post would end there as this catalog did not include enough information to identify individual notes. However, there is one more source. Most notes in lot 2768, which offered South and Central America, Mexico, Etc. were auctioned again in the August 21-23, 1972 Almanzar's sale, held in San Antonio, TX. That auction, which featured the King Farouk Collection of Latin American Banknotes is much better cataloged, even including serial numbers of most notes. The introduction of the catalog explains the path the notes took after the Farouk sale:

Lot 2768 in the Farouk sale included 857 notes (in a single lot), while 1,062 lots comprised the world paper money section of the Almanzar's sale. Unfortunately, the catalog does not specify exactly which lots came from the Farouk sale. We can (obviously) exclude the notes printed after 1954, which lowers the number a bit. We can also exclude the non-Latin American notes (although not with 100% certainty). After that, however, it gets murky. Sixteen notes of Venezuela were included, for example, and sixteen lots of Venezuela are in the Almanzar's catalog, but that includes a note dated 1955 (which couldn't have been in the Farouk sale) and a lot which offered three notes.

At Stack's Bowers Galleries we are no stranger to offering coins pedigreed back to the Farouk Collection. Likewise, sometimes we come across notes that are pedigreed to the Almanzar's sale (for example in the upcoming ANA auction, where we offer a Colombia note sold in the 1972 sale). It is difficult not to wonder if such a note was at one point part of the King Farouk collection. Chances are fairly good that it was, but that's as sure as we are going to get, until someone finds the original auction contracts from 1972 (the last Almanzar's sale took place in 1984) or a scratch book from 1954 where someone painstakingly took down the serial numbers of the notes in the Palace Collection sale. Unfortunately, at this point, both are unlikely, but one can always hope.

Note: Both catalogs of the Palace Collections of Egypt from 1954 and the 1972 Almanzar's sale can be found on the Newman Numismatic Portal.

To read the 1972 Almanzar's sale catalog on NNP, see:
Select paper currency & coins of the world : featuring the King Farouk collection of Latin American banknote's ... [08/21-23/1972] (https://nnp.wustl.edu/library/auctionlots?AucCoId=510226&AuctionId=518417)

To read the complete article, see:
A PEDIGREE LOST? THE KING FAROUK COLLECTION OF WORLD PAPER MONEY (https://stacksbowers.com/a-pedigree-lost-the-king-farouk-collection-of-world-paper-money/)

LAWSUIT: DENVER MINT OFFICER ASSAULTED NURSE

A woman is suing the U.S. Government and a Denver Mint police officer on allegations that the officer sexually assaulted her in 2022 at the Denver Mint.

According to the complaint, the woman was an independent contractor working at the Denver Mint in 2022. She was reportedly a registered nurse and provided health services.

The woman alleges that on Nov. 9, 2022, she was stocking shelves at the Denver Mint in the nurse's offices, where she said the officer used security cameras to track her whereabouts and follow her.

The nurse alleges that the officer had made repeated unwanted advances and a series of sexual assaults on her in the medical offices of Denver's U.S. Mint. The lawsuit asserts that the officer went further on Nov. 9, 2022, than he had previously, approaching her from behind and forcibly restraining her during the reported rape.

The lawsuit additionally alleges that the officer was known to have acted inappropriately on several prior occasions. The nurse also claimed that the allegations against the officer resulted in a settlement of about $100,000 to a minor female victim, along with an offer to pay her college tuition.

The nurse is alleging that the government knew or should have known its employees … had created a dangerous condition on its property. She also says the government has a duty to keep employees and contracted employees at the U.S. Mint safe.

To read the complete articles, see:
Lawsuit: Woman claims Denver Mint police officer sexually assaulted her in 2022 (https://kdvr.com/news/local/lawsuit-woman-claims-denver-mint-police-officer-sexually-assaulted-her-in-2022/)
Federal security officer restrained and raped nurse at Denver Mint, lawsuit claims: "It was atrocious" (https://www.cbsnews.com/colorado/news/federal-security-officer-restrained-raped-nurse-denver-mint-lawsuit-claims/)

To read earlier E-Sylum articles, see:
DENVER MINT HARASSMENT COMPLAINT FILED (https://www.coinbooks.org/esylum_v06n24a08.html)
MINT WORKER MADE NOOSE FROM COIN BAG ROPE (https://www.coinbooks.org/v20/esylum_v20n28a20.html)

LOOSE CHANGE: JUNE 23, 2024

The Cope Collection of British Rarities

The Cope Collection will be remembered for fantastic British rarities. Geoffrey Cope (1942-2017) was a widely recognized and zealous collector in Europe. The Classical Numismatic Group (CNG) along with two European firms, NAC and NGSA, jointly presented the auction of a large part of the Cope Collection at a hotel in Zurich, Switzerland on May 8, 2024.

By the time Cope was in his twenties, he was buying rare coins from major coin companies. Before he was forty, he became very interested in ancient coins, especially Roman bronzes. He personally attended auctions, and was widely known to numismatists in Europe.

Geoffrey Cope emphasized originality, striking detail and eye appeal and would not have been impressed by the attributes of many coins that merit Choice (MS63) to Gem (65 or higher) grades by U.S. standards. Among vintage British coins, he would have preferred an AU55 grade silver coin, by U.S. standards, with deep natural toning and sharp detail, to a technically outstanding MS66 grade coin that was not sharply detailed or became bright white via dipping.

To read the complete article, see:
Excellent British Rarities In First Sale Of The Geoffrey Cope Collection (https://www.greysheet.com/news/story/excellent-british-rarities-in-first-sale-of-the-geoffrey-cope-collection)

Biden-Trump Debate Format Settled by Coin Flip

Former President Donald Trump will get the final word when he debates President Joe Biden on CNN next week, after a coin flip to determine podium placement and the order of closing statements.

The coin landed on the Biden campaign's pick — tails — which meant his campaign got to choose whether it wanted to select the president's podium position or the order of closing statements.

Biden's campaign chose to select the right podium position, which means the Democratic president will be on the right side of television viewers' screens and his Republican rival will be on viewers' left.

Biden and Trump are set to make history on June 27 in the first presidential debate between an incumbent and a former president. It will also be the first debate since 2020 featuring either Biden, who did not face a serious challenge for the Democratic nomination, or Trump, who skipped those held during the Republican primary race.

To read earlier E-Sylum articles, see:
COIN TOSS ELECTS DEAD WOMAN TO OFFICE (https://www.coinbooks.org/esylum_v09n45a24.html)
INDECISION 2016: A FLIPPING COIN FROM LONG-STANTON (https://www.coinbooks.org/esylum_v19n32a36.html)
MORE ON ELECTION COIN-FLIPPING (https://www.coinbooks.org/esylum_v19n33a06.html)

To read the complete article, see:
Trump gets the final word at CNN debate after coin flip (https://www.cnn.com/2024/06/20/politics/cnn-debate-closing-statements-podiums/index.html)

The Last Barf Bag

I collect barf bags is not a complete sentence. The grammar is there, but it demands further explanation. To make sense of this singular hobby, a because or a charitable and is needed to steer listeners through the bewilderment of hearing that set of words, arranged in that way, for the very first time.

I collect barf bags because they're pretty neat.

I collect barf bags, and I'm not the only one.

Of the eight billion people on the planet, the number of serious barf bag collectors is just north of 100, according to notable members of their ranks. Not statistically significant, but significantly more than one might guess.

A handful of these collectors are taking part in The Last Barf Bag, a new campaign by Dramamine — yes, the nausea relief medicine — to celebrate this most necessary of inventions with a 13-minute documentary and a barf bag exhibit in New York City. There, hundreds of specimens chart the evolution of the aviation industry.

To read the complete article, see:
Meet the hobbyists who collect barf bags (https://www.cnn.com/2024/06/19/travel/barf-bag-collectors-hobby-cec/index.html)

To read the earlier E-Sylum article, see:
COLLECTING BARF BAGS (https://www.coinbooks.org/v25/esylum_v25n40a32.html)

Bank Branch Forgets to Lock the Door

Saturday evening, Wells Fargo Bank alarm monitoring service notified MCSO of a bank robbery in progress at the branch on US1 in Hobe Sound. It was around 7pm.

The suspect ... was caught on gas station video purchasing a mask. He then went across the street to the Wells Fargo bank where he walked through the unlocked doors of the closed bank. The suspect began opening drawers and cabinets but they were empty, so he left.

... He was charged with burglary despite the fact that the only thing he walked with was the mask that set him back five bucks.

To read the complete article, see:
SUSPECT WHO WAS ON VIDEO BUYING A MASK TO BURGLARIZE AN UNLOCKED BANK AFTER HOURS ARRESTED (https://www.facebook.com/MartinCountySheriffsOffice/
posts/pfbid02FkvqcXkJD1DmqVmLM35PeAdM4m2Pq5DacsEK86G5bz
CTNUGqiamT6GbRQ5hnqBbCl)

FANATICS LAWSUIT ALLEGES MONOPOLY

This story is part of a Prospect series called Rollups, looking at obscure markets that have been rolled up by under-the-radar monopolies.

Fanatics has been dubbed the Amazon of sports because of its CEO Michael Rubin's ambitions to become the central e-commerce platform for all corners of the sports entertainment market. Its success can be seen not only in its aspirations for a $100 billion market capitalization, but in the fact that Fanatics' main competitor for control of apparel sales is now indeed Amazon. It has secured the financial interests of large institutional investors like SoftBank and celebrities like Jay-Z.

But it's through a network of exclusive arrangements that Fanatics has asserted its dominance across the sports industry.

By 2022, Fanatics managed to get exclusive licensing arrangements with the NFL, NHL, NBA, MLB, and college sports programs, guaranteeing control over the official merchandise of professional sports.

Memorabilia arm Fanatics Authentic has locked up superstar player rights to autographs and other items by striking deals with Tom Brady, Jayson Tatum, Auston Matthews, Shohei Ohtani, and many others.

But what's really gotten sports fans and collectors enraged recently is Fanatics' tactics to acquire exclusive rights to a monopoly over most major sports leagues' trading cards.

TRADING CARDS, AN ICONIC CULTURAL ARTIFACT of the 20th century with a large subculture of collectors, hold a particular sentimental value for many Americans. Many sports fans share the uncanny, near-universal experience of their mothers at one point throwing out their valuable stash and something close to a mortgage down payment along with it, or at least so they claim.

Leagues are incentivized to partner with outside firms on trading card memorabilia because they get a sizable cut of the profits. But the relevant question is how they structure the licensing agreements, and whether they're giving too much power to one company ultimately at the expense of fans.

The trading card arm of the Fanatics empire is the defining example.

Trading cards underwent a resurgence during the pandemic and saw a boom in value that drew speculators and investment from non-fungible token (NFT) startups and other online trading platforms. Trading cards became the perfect vector for this niche endeavor of financialization.

During this period, Fanatics invested heavily in capturing the new value of this burgeoning growth market. They now not only produce the cards, but also control the resale market and the platforms where most of the action takes place, for new cards as well as old rare collectibles.

Summarizing the lawsuit, antitrust scholars Marc Edelman, Nathaniel Grow, and John Holden write in a forthcoming law review article: The sports trading card market—driven by group licensing, long-term exclusive contracts, and industry mergers—has become uniquely consolidated, with one company, Fanatics, emerging as the industry's dominant player.

Leagues have the legal right to sign to certain forms of exclusive licensing without anti-competitive effects, but the lawsuit focuses specifically on the longevity of these deals that Fanatics has locked in, spanning well over a decade. The deals ensure Fanatics will benefit from an extended period of monopoly profits without competition.

One key indication of higher prices for collectors are the terms and conditions that Fanatics is forcing third-party card vendors to sign in order to sell any of their products. With the acquisition of Topps, these terms can apply to old collectibles too, where third-party vendors and brick-and-mortar retailers play the largest role.

To sell Fanatics cards, sellers have to agree to a provision ensuring Fanatics' ability to make suggestions for minimum prices for future card sales, according to a review by Nathaniel Otto, an associate attorney at Burr & Forman LLP. The contract also threatens that Fanatics can potentially punish any seller that does not comply with the terms by revoking their access to all Fanatics-affiliated products.

To read the complete article, see:
Big Business Has Come for Your Baseball Cards (https://prospect.org/power/2024-06-20-rollups-big-business-baseball-cards-fanatics/)

To read the earlier E-Sylum article, see:
FANATICS SHAKES THE SPORTS CARD INDUSTRY (https://www.coinbooks.org/v24/esylum_v24n40a26.html)