1913 Walton Nickel
Bobpaulrarecoins
Posts: 1 ✭
Saw this lot in the upcoming Stacks sale and thought it was cool! The proceeds from the auction sale of the 1913 Walton holder will go to the Jewish National Fund and earmarked for the children of the hardest hit communities of the October 7th Massacre.
4
Comments
Neat lot, I am curious to see what it hammers for.
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606
It needs to be slabbed and stickered.
That’s a lot of money for an empty holder!
Buy the holder...not the coin...
USAF (Ret) 1974 - 1994 - The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries. Remembering RickO, a brother in arms.
"When they can't find anything wrong with you, they create it!"
Why wasn't it given back to the family? Maybe it was offered and was declined. But there just might be some micro residue left from the coin or some dead germs or a smidge of a fingerp -.......oh, nevermind!
Leo 😆
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
While a minor point, I wonder if the holder is actually a Berger holder rather than Capital Plastics. Note the holder has rounded corners, a feature I recall on Berger holders. Capital Plastics holders usually had pointed corners. Both Berger and Capital Plastics holders like that were very well made.
Already at $2,200. That's some expensive plastic, boys and girls.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Its part of coin history. if you can't own the coin, then buy the holder?
Proceeds going to a very worthy cause as well.
Buy the holder, not the cricket.
What does the Walton Nickel grade ? No damage from inserting it into this holder and handling it ?
How can you determine authenticity or if it’s not some new Chinese Ripoff?
Perhaps the photo of Walton holding this piece with a 1913 Nickel inside is evidence enough (check Stack's third auction photo). Additionally, read the second to last paragraph of the cataloging. The pedigree of the holder ownership can be traced back to holding the 1913 Nickel itself.
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606
Perhaps a picture of John Boy holding the holder?
USAF (Ret) 1974 - 1994 - The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries. Remembering RickO, a brother in arms.
We could fudge a pic for you 😉
.
.
Turns out you have asked a very interesting question.
I thought it would be easy to match up with the photo of it included in the 2013 Heritage auction sale.
https://coins.ha.com/itm/proof-liberty-nickels/1913-5c-liberty-pr63-pcgs/a/1184-4153.s?hdnJumpToLot=1&x=0&y=0
.
.
But when comparing the two there appear to be some differences.
First the comma after "A.N.A." is a different style. The tail of the 9 in "229" ends level in the most recent offering compared to the 2013 photo where it turns up. Also the "T" in LIBERTY aligns further right under the top hole than in 2013. Just notice in 2023 the I's have bars but not in 2013. There are some further slight differences. These appear to be more than lighting can account for. Compare below.
Was a second holder made to preserve the original and they got mixed up somewhere after 2013?
So what does anyone else think, same or different?
.
.
.
.
.
2013 auction photo:
.
.
.
.
.
2023 auction photo:
.
.
.
.
"To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin
This is definitely not the same plaque. The font and spacing are very different. If you look at the line "ONLY 5 OF THESE KNOWN", you can tell that the spacing is very off. And just compare the position of the letters between the different lines.
Follow me on MyCollect!
And if it's the same one, they should have the PCGS label. There's no reason to remove the PCGS label.
Follow me on MyCollect!
Definitely different. Look at the spelling of the first word on the bottom line of the holder in each photo😉
First photo:”Originaly”
Second photo: “Originally”.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Someone should contact the auction house this is not OK for the buyer and they should keep an image in their data base for the future as well.
NFL: Buffalo Bills & Green Bay Packers
Seems like Stack's didn't do their research on this one at all. It was a simple 5 minute search to see that this is obviously not the same holder. Thanks to @WinLoseWin for checking.
Follow me on MyCollect!
Yeah, I sure missed the spelling error on that one.
That settles that.
Now, where is the original and what will Stack's Bowers do?
They indicate in the lot description the holder is consigned from a past owner of the nickel. Maybe that owner never had the original or they had another made and inadvertantly gave the original holder with the coin when sold in 2022 and mistakenly kept the copy holder. Wonder what the story is.
.
.
.
Lot Description
Consignor has assigned proceeds of the sale to charity for the Jewish National Fund.
6 inches x 3.5 inches. The front of the holder is printed 1913 U.S. LIBERTY HEAD NICKEL / OWNED BY GEORGE WALTON / M.A.N.A. PRESIDENT 1956 A.N.A., L.M. 229 / ONLY 5 OF THESE KNOWN / ORIGINALLY OWNED BY COL. GREEN.
The 1913 Liberty Head nickel is a national treasure. Likely, there is no more famous coin in existence. Perhaps the closest runner up in the famous rarity category is the 1804 silver dollar, of which 15 are known, divided between private collections and museums. While other American coins may be rarer, these two have had the lion's share of publicity over the years, far eclipsing whatever the third candidate for fame might be.
Only five examples of the 1913 Liberty Head nickel are known to exist. While various stories have circulated concerning issuance of these coins, actual proof of the circumstances surrounding their leaving the Mint has never been documented. Theories include:
1 - They were struck to exchange for coins needed for the Mint Collection.
2 - A coiner at the Mint privately struck the pieces which years later found their way onto the numismatic market.
3 - They were struck exclusively for a wealthy collector.
Regardless of the "why" of issue, under standard Mint practices of the period all that was necessary for those who were responsible for their striking was to pay the Proof and Medal Fund eight cents for each coin and walk out of the Mint building with them.
It seems that the person involved was likely Samuel W. Brown, an established coin collector who lived in Philadelphia and worked at the Mint. Or, perhaps someone else was involved. In any event, when the nickels first became known to the collecting community, it was Brown who had them.
It was 1919 before the 1913 Liberty Head nickel first reached print. By that time Brown lived in North Tonawanda, New York, a town near Niagara Falls, where at a later time, he served as mayor. Either he already had all five Liberty Head nickels, or he had heard of them and wanted to acquire them, but whatever the reason, he advertised in the December 1919 issue of The Numismatist to pay $500 each for any such coins. In January 1920, he raised the ante to $600. Dave Bowers believes that the owner, at least in part, was Stephen K. Nagy, Philadelphia dealer and son-in-law of old-time professional numismatist John W. Haseltine. In his career Nagy handled many prime rarities, including all 10 of the known 1884 trade dollars and all five of the 1885 trade dollars. His style was always to work behind the scenes, to be in the background.
The Brown advertisements attracted wide notice. Various people in the Treasury Department, including at the Mint, received The Numismatist and no doubt saw the listings. Perhaps one of them had a group of 1913 nickels and came forth with an offer. Whatever the circumstances, in August 1920 Brown startled the collecting community by displaying five pieces, nicely fitted in a leather case. Not even the most experienced collectors and dealers had ever seen such pieces before.
In 1923 the nickels seem to have been consigned (rather than sold) to August Wagner, a Philadelphia dealer in stamps at 31st and York Streets, an ideal "front man." In The Numismatist, December 1923, Wagner advertised: "For Sale. Five (5)-Cent Liberty Head 1913 Coins. Proof. The only five-cent Liberty Head coins of this design and year in existence." Wagner did not find a buyer, and in 1924 Nagy sold them to New York City dealer Wayte Raymond, who placed them with Col. Edward H.R. Green.
Green was the eccentric son of millionairess Hetty Green, popularly known as the "Witch of Wall Street." After his mother passed away, Col. Green, as he became known, spent vast sums on his hobbies and interests. In time he could proudly point to such "collectibles" as a full-scale operating railroad in Texas, an antique whaling ship at harbor in Massachusetts, his own radio station, and vast collections of coins, stamps and paper money.
After Green's death in 1936 it took eight armored trucks to haul his valuables to safekeeping. His estate was handled by the Chase Bank, New York City. The appraisal of the numismatic portion of his estate was done by F.C.C. Boyd of New York City in 1938 and 1939, and a value of $1,240,299 was assigned.
As circumstances would have it, in St. Louis young Eric P. Newman, a numismatist and up-and-coming lawyer, desired to buy a piece of St. Louis currency from the Green estate, and wrote to inquire. For several years numismatists had been endeavoring to get hold of the treasures in the Green collection, but their approaches must not have been right, or the bank wasn't ready, or there may have been other reasons, for all were rebuffed. Eric P. Newman's inquiry concerning the Green estate arrived at the right time. Over a period of time several shipments of coins and paper money were quietly purchased from the Green estate by Newman and local friend, coin dealer Burdette G. Johnson.
Then the 1913 Liberty Head nickels became available. At first Newman made an offer for just the two coins that he thought were the finest. However, in time a deal was struck whereas $2,000 would be paid for all five examples. As Liberty Head nickels, dated 1913 or otherwise, were not among Newman's specialties, he dispersed them, one by one, with the finest quality piece being sold to Numismatic Gallery, who then sold it to Louis E. Eliasberg, Sr., of Baltimore in 1948. It thus became a showpiece in the greatest collection of United States coins ever formed - a cabinet complete with every date and mintmark from the 1793 half cent to the 1933 double eagle.
The coin later known as the Walton specimen was deaccessioned by Eric P. Newman and was acquired by James F. Kelly, the Dayton jeweler and rare coin dealer. Kelly is thought to have sold it directly to Dr. Conway A. Bolt, Sr., although accounts are mixed. From there it was said by Bolt to have gone to the R.J. Reynolds family, although a spokesperson for that family - the Reynolds clan in the tobacco business - has no record of such a coin.
In actuality, the coin seems to have been traded or sold to George O. Walton, Roanoke, North Carolina, a collector and dealer who often obtained coins on consignment from others and sold them to customers by visiting them in person. Walton did not publicly acknowledge ownership of the nickel, but said that he had "access to the coin whenever he wanted to display it." Walton had a fake made (by altering a 1910 nickel) for casual passing around and a real one which he kept as a personal treasure.
On March 9, 1962, Walton was killed in a head-on car crash while on his way to a coin show. A large number of coins were recovered intact and without damage by local police from the wrecked vehicle, although his watch and ring were nowhere to be found. The rarity-studded Walton estate collection was auctioned the next year by Stack's, but the 1913 nickel was not included as it was believed to be a fake. It was speculated that the real 1913 coin once owned by Walton had been sold by him to a private client, identity unknown, or, alternatively, that Walton never owned an original.
In 2003 Bowers and Merena Galleries offered $1 million sight-unseen to buy the authentic Walton coin if it could be found. The coin had passed to Walton's sister, Melva W. Givens, then to others after she died in 1992. The owners took note of the excitement and brought the coin to Paul Montgomery of Bowers and Merena, assuming it was Walton's altered 1910 nickel. In due course the Walton specimen was re-examined by a group of experienced dealers (Montgomery, John Dannreuther, David Hall, Mark Borckardt, Fred Weinberg, and Jeff Garrett), who pronounced it to be genuine. The newly re-identified nickel was exhibited along with the other four specimens at the 2003 ANA Convention in Baltimore. On loan to the American Numismatic Association for a number of years thereafter, the coin, certified Proof-63 by PCGS, made its first ever auction appearance in Heritage's April 2013 CSNS Signature Auction, where it realized $3,172,500. The Walton specimen was acquired by the Firman family in 2018, and sold to GreatCollections in October 2022 for $4.2 million.
After leaving the possession of Eric P. Newman, the other three 1913 Liberty Head nickels would wind their way through the hands of dealers and collectors that included kings and owners of department stores and professional sports teams. Two would eventually be donated to public institutions, one each to the National Coin Collection at the Smithsonian and to the American Numismatic Association Museum, leaving just three in private hands.
**When he sold the Walton specimen of the 1913 Liberty Head nickel in 2022, Ron Firman retained the custom black plastic holder in which it had been stored prior to encapsulation in a PCGS holder in 2018. Stack's Bowers Galleries is pleased to offer this special holder as a highlight of our December 2023 Collectors Choice Online Auction. Ron Firman has requested that all proceeds from the sale of this holder be paid by Stack's Bowers Galleries to the Jewish National Fund. Contact your accountant or tax professional to determine how much of the purchase price of this lot is tax deductible.
Adding to the rarity of this holder is that the 1913 Walton Nickel is the only coin we have seen that PCGS ever graded in the coin's original Capital Plastics holder.**Please note there are no coins in this lot.
.
.
"To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin
Redacted.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
"Adding to the rarity of this holder is that the 1913 Walton Nickel is the only coin we have seen that PCGS ever graded in the coin's original Capital Plastics holder. "
And this is not true. The 1933 double eagle was graded by PCGS without encapsulation also.
Follow me on MyCollect!
The screw holes are even different. Larger on the auction one. I too noticed the misspelling of Originally. Maybe the holder will be slabbed as an "error" and sold with a fake 1913.
Thank you everyone for bringing these discrepancies to our attention. We are withdrawing the item from auction while we gather more information.
Brian
I stand corrected, these are very different!
Thanks for posting the side by side comparison @WinLoseWin. What a strange but interesting situation.
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606
Would love to know what you find out after doing the research. I'm curious how this holder came to be.
Follow me on MyCollect!
Maybe they had a second one made to correct the typo
Collector, occasional seller
The one that had been up for auction seemed to be missing the clear plexiglass layers (and screws). Maybe it got cracked or scratched up and was replaced.
I appreciate everyone's typographically sharp eyes, noticing the differences on these two.
@JBK The one that is currently at Stack's does come with the two outer clear layers and screws, it just wasn't photographed for some reason.
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606
Interesting.....
I wonder if Walton noticed the misspelling and then had this one made to replace it. I know my OCD would go nuts if I had a million dollar coin in a holder with a missing “l”.
The various permutations of the Stack’s firm have for many decades had a strong and honorable reputation in the numismatic business.
But:
Perhaps going forward they should just avoid the Walton 1913 V nickel like a bad penny.
30+ years coin shop experience (ret.) Coins, bullion, currency, scrap & interesting folks. Loved every minute!
Yea, this coin has been a little bit like a curse on them. First the coin, now perhaps the holder.
Strange..........
Stacks did well as they research - Noted it has been withdrawn
OMG ... My Mother was Right about Everything!
I wake up with a Good Attitude Every Day. Then … Idiots Happen!
This is certainly one of the more interesting threads I have read this year. Thanks for posting.
@StacksBowersGalleries - Thanks so much for looking into this. I would be very interested in the story behind these holders. Please keep us updated.
I am a newer collector (started April 2020), and I primarily focus on U.S. Half Cents and Type Coins. Early copper is my favorite.
Indeed. They thought the coin was fake but didn't think this holder is fake. 😂
Follow me on MyCollect!
Wish I took a better picture of the display at the 2003 ANA show. I am sure someone would have a close up.
Omg! Lol
Originaly
At the time, I owned the Olsen specimen and we loaned it to the display. Later, I owned the Eliasberg specimen.
Time to buy the Walton specimen.
Follow me on MyCollect!