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MORE ON THE THE IRA REED COINS

1630Boston1630Boston Posts: 13,772 ✭✭✭✭✭

This topic came up in another thread and I did not want to derail the OP's topic - I never heard of these but thought it might be worth a thread topic of its own :)

The E-Sylum (2/24/2019)
The Ira Reed Coins
by Dr. Sol Taylor

At the ANA convention in New York in 1976, dealer Abe Kosoff showed me a very unusual item. It was a small thick card about 25% smaller than a business card and there were two coins in the card visible from either side. One was a BU 1937 cent and the other a BU 1937 buffalo nickel What made this pair unusual was that they were both reeded! I examined the coins closely with my 10x loupe and sure enough the reeding was exactly what I'd expect on US minted coins- except the US Mint never reeded cents or nickels. In fact the reeding was much more like that of a half dollar-much larger than one would expect on these sized coins.

Kosoff explained that a fellow dealer named Ira Reed from Philadelphia had made a small number of these special "business cards" perhaps as few as 40 and probably less than 100. The date 1937 was probably chosen as the year Reed opened his coin business. They were available at the 1941 ANA convention and were given free to selected dealers and $4-$5 each to the public.

The name Ira Reed appeared at the top and Philadelphia below. I don't recall anything imprinted on the back of the card. The next time I saw such a two- coin card was at the 1995 Long Beach coin show and the dealer was asking $1,200. The dealer was unclear as to whether this was a US Mint product. I told him what I knew about this odd "business card".


I mentioned this to the late buffalo nickel expert Len Ratzman and he never heard of it (i.e. a US minted reeded 1937 buffalo nickel). Where are they now? At least one set has been slabbed by SEGS. And there are occasional mentions on the Internet about folks buying or selling a set here or there.

Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

Bad transactions with : nobody to date

Comments

  • 1630Boston1630Boston Posts: 13,772 ✭✭✭✭✭

    Thanks @TomB and @BuffaloIronTail for the info you provided that enlightened me about these rare coins :)
    boston

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

  • JBKJBK Posts: 14,643 ✭✭✭✭✭

    @1630Boston sai :D d:
    Thanks @TomB and @BuffaloIronTail for the info you provided that enlightened me about these rare coins :)
    boston

    What about that @JBK who raised the issue to begin with? :D

  • TomBTomB Posts: 20,697 ✭✭✭✭✭

    Great post!

    Thomas Bush Numismatics & Numismatic Photography

    In honor of the memory of Cpl. Michael E. Thompson

    image
  • WAYNEASWAYNEAS Posts: 6,315 ✭✭✭✭✭

    What a story.
    Thanks all for your input(s).
    Wayne

    Kennedys are my quest...

  • 1630Boston1630Boston Posts: 13,772 ✭✭✭✭✭

    My appologies @JBK :#

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

  • 1630Boston1630Boston Posts: 13,772 ✭✭✭✭✭

    Thanks @JBK :D

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

  • goldengolden Posts: 9,018 ✭✭✭✭✭

    I can remember dealers trying to sell these at shows in the 1970's. They are not believed to be a Mint product.

  • RichieURichRichieURich Posts: 8,359 ✭✭✭✭✭

    Had two pair of these. Sold them, probably too cheaply.

    An authorized PCGS dealer, and a contributor to the Red Book.

  • 1630Boston1630Boston Posts: 13,772 ✭✭✭✭✭

    @golden said:
    I can remember dealers trying to sell these at shows in the 1970's. They are not believed to be a Mint product.

    Perhaps they are a "doublemint" product ? :)
    .

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

  • BuffaloIronTailBuffaloIronTail Posts: 7,401 ✭✭✭✭✭

    This is all news to me, as I thought the "Reeded" coins was mostly common knowledge.

    My Buffalo Nickel preference probably made me aware of them, as I've known of them for a long time.

    Pete

    "I tell them there's no problems.....only solutions" - John Lennon
  • FredWeinbergFredWeinberg Posts: 5,714 ✭✭✭✭✭

    I’ve handled at least 10 sets in the past 50 years, and only once bought singles of each .

    Retired Collector & Dealer in Major Mint Error Coins & Currency since the 1960's.Co-Author of Whitman's "100 Greatest U.S. Mint Error Coins", and the Error Coin Encyclopedia, Vols., III & IV. Retired Authenticator for Major Mint Errors
    for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
  • rickoricko Posts: 98,724 ✭✭✭✭✭

    I have not seen these reeded cent/nickle coins.... Has it ever been conclusively determined how/who reeded them?? Cheers, RickO

  • 1630Boston1630Boston Posts: 13,772 ✭✭✭✭✭

    I believe he only Mint-struck reeded edge 5-cent coins are silver half dimes.

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

  • 1630Boston1630Boston Posts: 13,772 ✭✭✭✭✭

    1937 Buffalo Nickel With Privately Reeded Edge PCGS Genuine Unc Details
    An artifact of from the 1941 Philadelphia ANA Convention where dealer Ira Reed gave out pairs of privately reeded 1937 Lincoln Cents and Buffalo Nickels as promotional items (Reed...reeding, get it?).... [full]

    Bid history: 19 bids (view)
    Time left: Ended
    (Sun, Jul 25, 2021 04:38:56 PM Pacific Time)
    Winning bidder: bidder 7
    Winning bid: $247.50 with Buyer's Fee)

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

  • fathomfathom Posts: 1,513 ✭✭✭✭✭

    I recall a cent and nickel sold as a set in a Heritage auction about 7-8 years ago for more than $1K.

  • 1630Boston1630Boston Posts: 13,772 ✭✭✭✭✭

    Housed in a customer Capital Plastics holder. Heritage auctioned one of these 2 coin sets for $1997.50 in June of 2016. This pair in a custom holder is just $1350.

    From the E-Sylim - This is also from Dave Wnuck's email newsletter Making the Grade #41, published February 13, 2019, and republished here with permission. Thanks! -Editor

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb

    Bad transactions with : nobody to date

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