Undated HOBBIES UNLIMITED mail order catalog

PipestonePete

I recently came across this great old HOBBIES UNLIMITED mail order catalog. It has no printing date on it but I noticed that there is no zip code included with the address so it probably dates from the early 1960's. We can only dream of these prices especially the gold listings.

gonzer

Where's Dr. Emmett Brown when you need him?

MFeld

I learned something new (and shocking) about 1804 dollars, just now 😉 - it says:
“ The 1804 silver dollar (photographed) is worth $2000.* 19,000 were minted…only
13 have shown up … where are the rest?”

gumby1234

Has to be from 1960 .

TomB

@gumby1234 said:
Has to be from 1960 .

Perhaps it is 1961 given they are selling 1960 proof sets and I am not certain how late in the year the 1960 sets were delivered.

gumby1234

Possibly , but no earlier than 1960.

pcgsregistrycollector

I want that 1804 dollar for 2k. Someone willing to send one to me?

BStrauss3

Ford's order reversing Roosevelt's was in 1974, right? Has to date after then because they're openly selling pre33 gold coins.

Alpha2814

@BStrauss3 said:
Ford's order reversing Roosevelt's was in 1974, right? Has to date after then because they're openly selling pre33 gold coins.

Wikipedia: "The order also permitted any person to hold up to $100 in gold coins, a face value equivalent to 5 troy ounces (160 g) of gold valued at approximately $10,000 in 2020. The same paragraph also exempted "gold coins having recognized special value to collectors of rare and unusual coins", which protected recognized gold coin collections from legal seizure." -- https://en.wikipedia.org/wiki/Executive_Order_6102

BStrauss3

Oh, I know what the order said.

It's also common knowledge that very few people took advantage of the exceptions. The Treasury made it quite difficult to be classified as a recognized gold coin collection.

The 1932 Mint Director's report for the year ended June 30th, 1932 and 1931 mining...

https://ia801207.us.archive.org/4/items/annualreportofdi1932unit/annualreportofdi1932unit.pdf

The mint made $111,015,000 in gold coins and acquired $413,057,073.88 in gold during the FY.

Pg 6:

Stock of Coin and Monetary Bullion in the United States
On June 30, 1932, the estimated stock of domestic coin in the United States was $2,765,212,687, of which $1,793,828,454 was gold, $540,007,911 standard silver dollars, $304,882,996 subsidiary silver coin, and $126,493,326 minor coin.
The stock of gold bullion in the mints, assay offices, and Federal reserve banks on the same date was valued at $2,124,767,363, a decrease during the year of $1,132,720,046; the stock of silver bullion was 21,721,223.09 fine ounces, an increase of 5,397,519.59 fine ounces.

In the 1933 report (June 30, 1933 or about 3 months after the executive order),
https://ia601208.us.archive.org/16/items/annualreportofdi1933unit/annualreportofdi1933unit.pdf

Gold acquired by the Government at the several mint-service institutions during the fiscal year 1933 totaled $465,109,665.22; United States gold coin received by the mints for recoinage amounted to $1,637,139.39; transfers of gold between mint offices totaled $10,365,655.35; the aggregate amount of gold received by the several mint service institutions during the fiscal year 1933 was $477,112,459.96, which compares with $427,695,309.11 during the prior year.

Now move to 1934, year ended June 30th, 1934, 15 months after the EO...

https://ia601208.us.archive.org/16/items/annualreportofdi1934unit/annualreportofdi1934unit.pdf

Coinage
Restoration early in 1934 of coinage demand by the public was a factor in the larger output of domestic coin during the fiscal year ended June 30, 1934, than during recent preceding years. Total domestic pieces made in the fiscal year under review were 46,634,250, as compared with 32,154,300 during the prior year. The 1934 value was $3,499,125 as compared with the prior year's value of $27,861,420, the latter made up principally by gold coin having high value per piece.

Gold Operations
Gold acquired by the Government at the several mint-service institutions during the fiscal year ended June 30, 1934, at $20.67+ per fine ounce, amounted to $20,114,858.02; that acquired from the Reconstruction Finance Corporation, at $32.75 per fine ounce, amounted to $27,834,891.57; increment to $35 per fine ounce on these two items amounted to $15,854,442.50; gold acquired at $35 per fine ounce amounted to $845,595,274.32, giving total acquisitions with valuation at $35 per fine ounce $909,399,466.41. Domestic gold coin transferred from other Treasury offices amounted, at $35 per fine ounce, to $10,207,157.47. Intermint-service institution transfers amounted, at $35 per fine ounce, to $70,325,502.80. The above items aggregate $989,932,126.68.

i.e. almost $1B in gold

Stock of Coin and Monetary Bullion in the United States
On June 30, 1934* the estimated stock of domestic coin in the United States was $961,884,257, of which $540,006,894 was standard silver dollars, $294,770,252 subsidiary silver coin, and $127,107,111 minor coin.
The stock of gold bullion, including coin, held in the Treasury on the same date was valued at $7,856,180,556 at $35 per fine ounce; the stock of silver bullion was 59,476,956 fine ounces, an increase of 31,720,059 fine ounces.

Note the $1.7B of gold coin in 1932's report is now carried as bullion.

$7,856,180,556 at $35 vs $2,765,212,687 at $20.67

Or 224,462,301.6 toz vs. 133,779,036.6 toz.

Production in the US did not make up the difference

Domestic gold production during the calendar year 1933 was $52,842,300 (at $20.67+ per ounce), as compared with $50,026,000 in 1932.

That's only 2.5m toz vs the increase of over 90.6m toz...

It's clear that the Treasury had no sight of the huge transfers of gold to Europe (that have continued to return, bringing rare and common coins to market)

Import and Export of Domestic Gold Coin
The net import of domestic gold coin during the fiscal year ended June 30, 1934, according to statistics compiled by the 'Bureau of foreign and Domestic Commerce, was $994,929; during the prior fiscal year there was net import of $1,343,538. During the 20 fiscal years 1915-34, since the opening of the World War, there has been a net export of $773,872,331. Since 1870 the net export of domestic gold com has been $1,651,521,395, as per tabulation by fiscal years, which may be found in another section of this volume

90,683,265 toz at 1.075 toz per Double Eagle is 84,356,525 coins.

yosclimber

I'm not sure I believe their claim that 1856 Flying Eagle cents "can STILL be found in circulation" in 1960.
Seems more like a lie to promote selling coin albums and coin collecting to unknowing but greedy folks.

PipestonePete

@yosclimber said:
I'm not sure I believe their claim that 1856 Flying Eagle cents "can STILL be found in circulation" in 1960.
Seems more like a lie to promote selling coin albums and coin collecting to unknowing but greedy folks.

My wife received an 1857 Flying Eagle cent in change at a local J.C. Penny's store in 1991. I'd been a roll searcher for 20 years at that point and that beat my oldest find by more than 25 years. Of course, the 1856 would be in a totally different realm.

Mr_Spud

Very cool, thanks for posting that 🌞

ElKevvo

Yeah looking at old catalogs is fun and the prices, well fun too. Of course I only made like $2.00 a week from my paper route so between fishing gear, model airplanes, etc. I did not have a lot for coins even at those prices!

K

PipestonePete

What would be a realistic modern day price for that gold 6-coin type set in Choice Brilliant Uncirculated listed here for $246?

TomB

Choice BU back in the 1960s via industry press offer might very well be AU55-AU58 today.

PipestonePete

@TomB said:
Choice BU back in the 1960s via industry press offer might very well be AU55-AU58 today.

Agreed. And, even a very cursory look at Ebay sales for a collection of the six coins (in AU) mentioned in the ad shows a cumulative value of nearly $7500 which would be close to a 30X increase [with the gold spot price today at slightly more than 100X what it was in 1961 ($35.25)].

safari_dude

@pcgsregistrycollector said:
I want that 1804 dollar for 2k. Someone willing to send one to me?

Shoot, there’s a seller on eBay that has them for $28.95, but you’d better hurry because he only has 26 left…..lol

Coins3675

@pcgsregistrycollector said:
I want that 1804 dollar for 2k. Someone willing to send one to me?

I got you bro