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My Grandfather Just Told Me I've Inherited Some Family Gold...
airplanenut
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My great aunt (grandfather's sister) passed away about two weeks ago from a combination of old age and illness. My grandfather just sent me this email:
Among my sister's possessions were these four coins:
1. What appears to be a British coin. I say appears because it is well-worne. The obverse side has King George V in
profile; on the reverse, I can read "25," the coin's value, and "1912," the year it was struck, but nothing else.
2. An Etat Francais 1 Franc from the year 1942. That's in good condition and I may have given it to her after a voyage to
France in 1945. (My, my, how time flies!, to coin a phrase).
3. A U.S. gold 2.5 dollars from 1911. An Indian head is on the obverse and eagle on the reverse.
4. A U.S. gold coin dated 1880. The obverse side has the head of Liberty in profile; the reverse has an eagle and "Five D."
We, Joe [grandfather's brother] and I, are quite sure that the gold coins were our father's. They and the others are now yours if you, the family
numismatist extraordinaire, want them. We would be interested in learning their monetary value but, obviously, at least the
gold coins, are priceless as family heirlooms.
While I certainly find sentimental value in all four pieces, the gold is very exciting for two reasons:
1- I'm now the fourth generation since these coins were taken out of circulation. I've always thought about coins as historical objects, but never has the history come so close to home as now; it never occurred to me that my grandfather was alive (albeit a toddler) when these pieces were circulating. I know that his father worked long, hard hours to maintain a small grocery store, so I imagine $7.50 was a large amount of money for him. Obviously, these coins are now worth far beyond their numismatic value in my family.
2- Each piece ties well with a story and my collection. First, I've been looking for a $2 1/2 Indian to add to my type set for some time now, but have never found one appealing enough and in my price range. This will join wonderfully with my 1912 $5 Indian. Secondly, on the day I broke $100 on a coin, I actually bought two $100+ coins. First on that day was the coin in my signature line. Second was an 1880 AU $5 Liberty. This was at the Baltimore ANA in 2003, and I went to the show only because my parents went to start looking at houses in the area, with only one rubber stamp still needed before my father would be granted tenure, the condition on which he'd take his professorship.
I've never inherited a coin before, but have always thought that I'd like to pass my coins onto a family member who is a collector many, many years from now. It's exciting to think that not only will I be passing on coins to the second or third generation, but also to the fifth or sixth.
Jeremy
Among my sister's possessions were these four coins:
1. What appears to be a British coin. I say appears because it is well-worne. The obverse side has King George V in
profile; on the reverse, I can read "25," the coin's value, and "1912," the year it was struck, but nothing else.
2. An Etat Francais 1 Franc from the year 1942. That's in good condition and I may have given it to her after a voyage to
France in 1945. (My, my, how time flies!, to coin a phrase).
3. A U.S. gold 2.5 dollars from 1911. An Indian head is on the obverse and eagle on the reverse.
4. A U.S. gold coin dated 1880. The obverse side has the head of Liberty in profile; the reverse has an eagle and "Five D."
We, Joe [grandfather's brother] and I, are quite sure that the gold coins were our father's. They and the others are now yours if you, the family
numismatist extraordinaire, want them. We would be interested in learning their monetary value but, obviously, at least the
gold coins, are priceless as family heirlooms.
While I certainly find sentimental value in all four pieces, the gold is very exciting for two reasons:
1- I'm now the fourth generation since these coins were taken out of circulation. I've always thought about coins as historical objects, but never has the history come so close to home as now; it never occurred to me that my grandfather was alive (albeit a toddler) when these pieces were circulating. I know that his father worked long, hard hours to maintain a small grocery store, so I imagine $7.50 was a large amount of money for him. Obviously, these coins are now worth far beyond their numismatic value in my family.
2- Each piece ties well with a story and my collection. First, I've been looking for a $2 1/2 Indian to add to my type set for some time now, but have never found one appealing enough and in my price range. This will join wonderfully with my 1912 $5 Indian. Secondly, on the day I broke $100 on a coin, I actually bought two $100+ coins. First on that day was the coin in my signature line. Second was an 1880 AU $5 Liberty. This was at the Baltimore ANA in 2003, and I went to the show only because my parents went to start looking at houses in the area, with only one rubber stamp still needed before my father would be granted tenure, the condition on which he'd take his professorship.
I've never inherited a coin before, but have always thought that I'd like to pass my coins onto a family member who is a collector many, many years from now. It's exciting to think that not only will I be passing on coins to the second or third generation, but also to the fifth or sixth.
Jeremy
JK Coin Photography - eBay Consignments | High Quality Photos | LOW Prices | 20% of Consignment Proceeds Go to Pancreatic Cancer Research
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Comments
See what being a good grandson can get you.
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
<< <i>4. A U.S. gold coin dated 1880. The obverse side has the head of Liberty in profile; the reverse has an eagle and "Five D." >>
Maybe there will be a CC under the Eagle !
My #1 Low Ball Peace Dollar Set
That's the kind of Pedigree that money can't buy -- much more interesting than a "Binion Hoard"
I have several pieces of Belgium and French paper money that were brought back from WWII by two of my grandfathers who never knew each other, and are no longer living. They are well crumpled, and of almost zero collector value, but they are priceless treasures in my collection, and definitely part of anything that I will "pass on".
Cheers!
Rex
Self Indulgence | Holey Coins | Flickr Photostream
<< <i>the family numismatist extraordinaire >>
Are wwe talking about the same guy?
<< <i>the gold coins, are priceless as family heirlooms >>
Interpretation: You can not sell them.
Specializing in 1854 and 1855 large FE patterns
<
"La Vostra Nonna Ha Faccia Del Fungo"
<< <i>Interpretation: You can not sell them.
My mom pointed this out to me... my response was that I'd never have dreamed of it (although I did miss the reference, selling never crossed my mind)
Cool story.
J
siliconvalleycoins.com
my buddy at work has a super worn $3 princess, it's worn to heck because his grandfather's brother used it as a pocketpiece (used to love showing it off to people)... THAT's the good stuff !! (I gave him an airtite to further protect it from further damage.. I think it's should be arrested in present condition.. still recognizable !)
<< <i>Check for the D Jeremy!!
Cool story.
J >>
Yeah, it will kill you if there's a "D" on that Indian, not to mention a "CC" too.
Reminded me of my Grandmother (born in 1898) She too ran a small grocery store after her husband died @ 32 y/o.. My Grandmother raised 3 children while running the store + extended 'credit' to familes in the community who couldn't afford food..
No coins were left to the Grandkids, but I do have her .38 caliber Nickel plated "Iver Johnson" with pat.# indicating it was produced in 1899. Was told it was my Great Grandfather's..
so I'm the grandson of a 'pistol packin' granny
Thanks for the great story.
If your children are old enough, or when they get there, passing some coins down while you are still here, may have some benefits.
I have begun that process, starting with the original Whitman folders and my lib nickel collection. Next to go are the Buffalo's.
Also, several lower cost commems. And I always keep them up to date on major purchases and sales. When they come on vacation, they always ask to see anything new.
So far, it has spurred my youngest child to order smaller denominations from the Mint, and to forward any news articles about coins to my attention.
Let's hear from some other forum members about your activities/experiences with your children/relatives.
They are common dates. An 01S & 04S Double Eagle, 2 $10 Indian Head Gold coins & 2 $5 Indian Head Gold Coins (have the dates at home). The 04S might be a low grade Unc., the rest are mostly VF & XF.
She also saved 60 silver dollars, all of which are common dates and a few might be low end Uncs. Fast forward thirty-five years. The silver dollars might go out the door, but I don't think the gold will be going anywhere.
"Seu cabra da peste,
"Sou Mangueira......."
If you don't mind me sharing a bit I would like to chime in.
I first started collecting in 1963 at 9 years of age, with the Whitman books for Lincolns, Jeffersons, and Roosies. My Grandfather and Grandother worked at a bakery, Grandpa getting up at 2 AM to drive the double semi-delivering bread to outlaying areas, and Grandma operating the day old bakery thrift store. They were a wonderful source of coins such and on occassion I got to go through the coins in the register and swap things out.
The first time I went to a coin shop probably when I was 13 or 14 was just before the holidays probably 1968, and I wanted to get a Christmas present for my Grandparents. Since they were born in 1910 and 1914, and I couldn't afford too much I wanted to get the largest silver coin I could for thier birth years. That coincidentally was a Barber Half Dollar, should have been a clue to me.
Anyway, being on the West Coast I found a 1910-S and 1914-S Barber Half since no silver dollars were made in those years. Being a Californian I loved the fact we had a Mint in our state and I always tried to get a coin from San Francisco where I could. I proudly gave them as presents that year. My Grandmother passed January 2, 2000 but my Grandfather who will be 97 in March is still with us and in fact I have moved him and my Aunt who has cared for them for several years up near me in a house I bought almost 2 years ago. Shortly after they got settled in we were sitting around and we pulled some stuff out my Aunt and Grandfather wanted to go over with me. Included in the box were a few coins, among them a 1910-S and 1914-S Barber Half Dollar some 40 years later after I had given them as presents.
They will be kept always as a fond rememberance of my Grandparents and all the love and support they showed me for years and years, and for something special between us. Even cooler they are in F and VF+ condition, so even then I had a pretty good eye.
Thanks for sharing Jeremy and others and for creating a neat thread to share a memory with my friends here as well.
Glenn
Website-Americana Rare Coin Inc
Ankur
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
I do have two specific comments to comment on:
<< <i>If your children are old enough, or when they get there, passing some coins down while you are still here, may have some benefits. >>
I do plan on starting my kids on collecting... when I have kids
<< <i> I would get them slabbed and keep them in my collection forever, and eventually pass them down. Truly a great story! >>
I'm probably going to put them in my type set--at least the $2 1/2, which is a hole I haven't filled. That said, unless the coins are very high grade (and perhaps even if they are), I'd probably put them in Capital Plastics holders. To me, slabs always have the aspect of being one step closer to being ready for sale than anything else, and these coins don't deserve to have a tie to anything involved with selling.
Save that letter along with the coins! It will mean as much someday to another Katz generation as the coins do.
My grandfather emigrated here from what is now Bosnia in 1906, came through Ellis Island and the whole 9 yards. His pocket piece was an 1882 Morgan Dollar in a keychain, polished and worn down to maybe VG. It was the only coin my granddad ever gave my dad (they're both non-collectors, unless you count lawnmowers). It's also the only Morgan dollar I still own, sitting on red velvet in my coin cabinet, priceless beyond words. I never knew my granddad, and he was a working stiff his whole life (he set dynamite in a quarry), so that dollar had a lot of value to him.
Further, passing these along to your children and their children will take some of sting out when the Jeremy Katz Collection graces a Stack's sale in 2056 and you spend the money on wine and women.
Thanks for the cool post -- by the way, now that you're in MD I'm moving to NYC -- only one numismatic geek named JK per state, please!
Betts medals, colonial coins, US Mint medals, foreign coins found in early America, and other numismatic Americana
My grandfather got me started in coin collecting in 1959 when he handed me a huge 1878 silver dollar that was bigger than my hand. I was enthralled.
Later on, I wore my cowboy boots and uniform (and pistol!) when I was eleven years old in early 1965 and my grandfather gave me a $20 gold coin to hold in my little hand.
He took a picture of me and when he passed away in 1988, I placed that wonderful picture with him. I was not smart enough to have saved a copy of that picture. I should have!
This is too emotional for me to think about my not completing my quest with my grandpa first!
You see, my grandpa was 67 years old in 1965 when taking the picture hence the reason, I wanted to do a gold set in MS-67 in his honor!!
Crazy how a numeric grading system can have an effect on human emotions?
P.S. I have 13 1/2 years to go before I turn 67. That would be in summer 2020.
One more thing.
The $20 coin my grandfather gave me in 1965 for my picture was an AU 1875-P $20 (common date).
That began my love affair with type II's Liberties!
My plan is the following. I am in the process of trying to complete the only known all MS-67 denominational gold type set of the 19th, 20th and 21st century. I already have the Cal fractional fractional set in $1/4 $1/2 in MS-67 and a number of other denominations in MS-67 from the 19th century. It is a project that I expect will take me another 12 years at least.
On my 67th birthday, god willing, I hope to celebrate my 67th birthday by finally selling such set at auction.
I hope it will be a wonderful auction.
Your post was wonderful! I can only imagine how close you were to your grandfather. I started collecting in 1969 while working in bank in Maryland. I told my father about it, and he showed me something I didn't know he owned, about 500 Indian head cents he picked out of change when we worked at his parents' candy store in Brooklyn. He gave them to me, and I would never sell any of them.
Jeremy....the pressure is on you now. In addition to your MIT work, you must find a girlfriend, get engaged, get married, and have some children to inherit your grandfather's gold coins!!! Of course this all doesn't have to happen immediately
Grandpas can be great!
I hope my collection travels that far through the generations to come.
Wonderful family history you have there
Terry
<< <i>Why the resurrection of a 3 year old thread? >>
Agree. Sort of strange.
Worry is the interest you pay on a debt you may not owe.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)