Collecting in the 1960s by Alan V. Weinberg
Zoins
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Alan Weinberg is one of my favorite collectors because of all the collector notes he's taken over the years which get published on Heritage for us to enjoy. I've never seen so many notes on specific coins published by a collector.
I thought this post of his was especially worth reading. Here is a very short excerpt from the beginning and end. If you're interested, read the full post on E-Sylum.
https://www.coinbooks.org/esylum_v13n16a22.html
Having read Bob Rhue's reminiscences of his hobby experience in the 1960's, I thought I'd jump in with a few more general thoughts.
There were a lot fewer collectors and dealers in the early 60's. Most had no real affinity for natural toning and brilliant/bright was "in". "Original skin" by any terms was unimportant.
[...]
Was the hobby more fun then? More enjoyable? More rewarding in every aspect? A resounding "Yes!" Knowledge was King back then - you didn't have the excellent reference books now available so Picker, Anton, Ford and others really prospered. They knew true rarity and they knew their clients. Collectors like me learned at their feet and from attending and watching/listening at the FAR fewer shows than are held today. Life just seemed less intense, more relaxed back then. And the hobby was too.
Comments
Excellent points.... I will read the rest on esylum later......I very well recall the days pre-tarnish... The cleaning that was common was not good, but the focus was on the coin rather than the environmental damage/rainbow colors. Cheers, RickO
I think his comments can be applied to most aspects of society.
"Life just seemed less intense, more relaxed back then."
The internet has certainly changed the rules of the game. Things that are "hard to find" are not necessarily rare. You dont have to leave your house to buy/sell coins. Research is largely available on your computer, including prices realized and high quality photographs of virtually everything out there.
In essence, the future continues to make the world a smaller place.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Brasher Doubloon for $15,000? My ....new....HOUSE cost $17,250 in 1961.
In the early 1960s there were a LOT more collectors, not less. The difference was that many of the collectors of that era were not potential customers of the big name dealers ... they were roll and bag searchers in an era when, until 1963, it was still possible to find something numismatically worthwhile in circulation. Coin clubs were popping up all over and many had very strong attendance complete with some local bourse dealers who set up at the club meetings. I remember well doing business with Chester Powderski at the Club of Illinois Numismatists (COINS) meetings in Homewood, IL when I was in high school. Coin folders and albums were easily available at many, many stores during that era and most major department stores had a coin and stamp department. Stores like Woolworth had inexpensive collector coins for sale. The number of collectors dropped sharply after May of 1964 when the roll and bag market crashed and took much of the rest of the coin market with it. Coin World at the peak of the market of the 60s had a circulation of at least 168,000 ... they used to publish their circulation numbers on the front page of each issue.
It was more enjoyable and fun. Gold way cheaper $35 an ounce no holder or sticker game. Gem BU untoned was in toners shunned as “tarnished” coins. I recall buying Gem 1907 $20 for $68 in 1969. Probably a 67 or 66 by current standards. In 1964 the 1950-D nickel king of coins. People were paying $1000 a roll (similar to today’s sticker craze) Morgan’s could be had for a few bucks. One could pull silver coins from change. No slabbed coins till 1986. When I see somebody posting some darkly tarnished toner they paid thru the nose for I turn up my nose in disbelief. I remember buying a BU roll of halves in 1968 and as a courtesy my dealer without asking took them back to a sink and dipped them.
I was having coffee with an old friend from that era who had been out of coins awhile and I showed him a post here where somebody crossed coins to PCGS taking downgrades and Calc how much he lost in MV and grading fees my friend just laughed and laughed. Then he was in disbelief when I showed him the CAC premium bids in the sheet on certain USGTC and he was in shocked disbelief “ just because of a sticker - who pays that? That would buy more gold or a nice coin!”
Would love go back in time with what I know now as my younger self start dealing coins say 1972 to 89 where no where to go but up.
For perspective. Damn!!!
"Today the crumbs, tomorrow the
loaf. Perhaps someday the whole damn boulangerie." - fictional Jack Rackham
Gold at $305 was seems so long ago now!
Sometime back in the 1960's my best friend and I were busy filling Whitman folders with pennies and nickels. At some point we discovered that we could buy a one ounce gold coin for $35. The problem of course was how could we ever scrape together $35? We did the calculation and concluded that at 25¢ per job we would have to mow 140 lawns in order to earn $35. It was August and it was hot! We decided daydreams are just that.....daydreams. Back to the pennies and nickels we went.
That was a fun read. Before my time.