One Hundred Years Ago: What did coin collectors save?
abcde12345
Posts: 3,404 ✭✭✭✭✭
Back in 1918, what did coin collectors collect? Large cents? half dimes? Buffalo nickels?
0
Comments
100 years ago, coin collecting in America had not reached the stage of mass popularity (and it would not do so for at least another fifteen years).
Coin collectors in America were typically well-off and many such persons had much more of a classical, liberal arts education. They wanted the earliest coinage of the USA, US patterns, ancient coins (Greece, Rome) and world coins with clear ties to historic events and historic persons. There was a clear preference for western history and culture, and surprisingly little interest in non-western cultures.
100 years ago, radio had not been popularized yet. People still read books and newspapers and many still played musical instruments. Phonograph was starting to become very strong. Automobiles had not yet eclipsed the railroads. It took five hours to get from Pittsfield to Springfield via automobile. Individuals still communicated over long distances via written personal letters. A different world.
Who were some prominent collectors 100 years ago?
"Coin Collecting is considered the world’s oldest and most rewarding hobby of them all. Coins tell the story of humanity from the beginning of early monetary systems to today’s economic structure. Every coin has a story to tell, where you can hold history in your hands.
Rare coin collecting was originally known as the Hobby of Kings, because many members of Royalty have engaged in this passion, over many continents, spanning many decades. Rare Coins have been collected for centuries. Coin collecting dates to ancient Rome from the 1st Century, and today the hobby has elevated to a science that is enjoyed worldwide. There are many notable American collectors that have built historic U.S. coin collections since the opening of the U.S. Mint in 1792.
While it may have formerly been known as the “hobby of kings,” today it has become the “king of hobbies.” In fact, due to a groundswell of new collectors although those numbers are now waning as other trappings are taking the populists free time.
I think a skilled laborer could pull in a single double eagle per week if he put in overtime.
They weren't making saints in 17, 18 or 19 so I'd probably save up my money and buy a bunch of 20-S & 21
Then I'd give em to my great-grandkids later on so they could finish their damn date sets.
My Saint Set
Gold coins at face.
While a few wealthy individuals collected gold coins a century ago, gold coins didn't become a popular collectable until after FDR issued his gold recall in 1933.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Not quite a century but I've got 2 Max Mehl "The Star" rare coin encyclopedia and premium catalogs dated 1931 and 1934. They are an interesting look back at collecting. Lots of b&w photos and great drawings of his offerings, which were large. No wonder he had his own building back then. Peace Roy
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken oih82w8, DCW
The coin values shown in these books were amazingly low.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Oops, here's an image of the catalogs.
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken oih82w8, DCW
I know, oh to have been a buyer back then!
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken oih82w8, DCW
Average work week was 58 hours at 56 cents an hour.
Less than 5 % made a $1 an hour.
It would have been a killer week to get an extra $20 a week.
It's fun to think of what we would have saved from circulation 100 years ago, but quite frankly a lot of us here wouldn't be able to save much from circulation as there was a lot less disposable income back then.
Disposable income really didn't happen until WWII and the post-war economic boom.
100 years ago. 1918.
Start of the Spanish Flu Pandemic.
I do not think many were thinking about this hobby. Just trying to survive.
Go to the Newman Portal and check out the plated auction sales put out by people like the Chapman Brothers, Elder, etc. Quite a few of the collectors during that era collected ancients on up in fabulous condition as well as extremely rare coins. It is also interesting how simplicit grading was at that time. Quality sold itself.
They obviously bought Proof sets and kept up with them. There were complaints when the mint switched over to the Matte Proofs and sales went down. Ultimately the mint discontinued to sell Proof sets because of a lack of interest.
There was an interest in what are still called the "classic U.S. coins." Articles appeared in The Numismatist. Collecting mint marked coins was probably on the rise, and new pieces, like the 1909-S-VDB were being put away in some quantity.
My guess is though that that "reallly important" collectors were chasing ancient Greek and Roman coins. There was also more interest in medals.
Sort of like buying moderns now.
Do you collect moderns? At the time, the coins would not have nearly the appeal they have now.
Well, exactly 100 years ago as the question was posted, the economy was at the end of an extended wartime boom, as indicated by the high coinage totals in 1915-18. My grandparents built a house in that period. Disposable income was there, but not the idea of collecting coins. That came with the “penny boards” in the 1930’s.
One hundred years ago, coin collecting in the U.S. was not a widespread hobby. However, the collectors likely collected coins from a hundred years before that time... just makes sense...Old coins are collectible.
Cheers, RickO