Options
1937 Reeded Edge Lincoln Cent & Buffalo Nickel
MWallace
Posts: 3,864 ✭✭✭✭✭
I haven't seen one of these in a while. Does anyone here have one?
Short story for those not familiar with them: Not mint made. Made for the 1941 ANA convention by dealer Ira Reed. Mintage 100 each 1937 Lincoln Cent & Buffalo Nickel. Originally sold for $4/pair. They caused a sensation and many still believe that they may have actually been reeded in the Philly mint for Mr. Reed due to the quality of the reeding and his connections there.
Short story for those not familiar with them: Not mint made. Made for the 1941 ANA convention by dealer Ira Reed. Mintage 100 each 1937 Lincoln Cent & Buffalo Nickel. Originally sold for $4/pair. They caused a sensation and many still believe that they may have actually been reeded in the Philly mint for Mr. Reed due to the quality of the reeding and his connections there.
0
Comments
I recently bought this 1869 Indian cent with a reeded edge, as well as this 1864-L that I bought off eBay about 10 years ago. Both edges were carved in very different styles.
https://thepennylady.com/
<< <i>I never heard about these before but would like to see what they look like as well. >>
I can't find a good picture on the Internet. I find pics of the obv and rev, but not of the reeding. I've never actually seen one in person. Would love to though.
buffnixx
a.k.a "The BUFFINATOR"
www.brunkauctions.com
Ike Specialist
Finest Toned Ike I've Ever Seen, been looking since 1986
and singles of them over the decades.
About a dozen sets, and maybe a
half dozen singles.......
They seemed to be 'more around' in
the 70's, less so in the 80's, etc.
My guess is that in many cases, those
singles and sets that have come on
the market in the past decade or so
are in strong hands.
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
Just bought my first 2-pc set of these
at the FUN show last week. Choice BU coins.
The first set I've had since 2006, or earlier.
I'm going to check the reeding again, to see
if anything special sticks out about the reeds,
and I might see if PCGS would slab them, but
I doubt it.
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
At one time I had two sets, then a friend wanted one, so I sold it to him.
So now I own one set, when I get to the bank box it is in, I will get some pics and post them.
An authorized PCGS dealer, and a contributor to the Red Book.
I think a few (possibly 2) of Ira's nickels were certified by ANACS in the 70's. I have not seen one in forty years. I will guarantee that some exist that were not contemporary (1940's) and therefore considered altered.
I know, the authentic ones are also "altered."
The two coins are considered "novelty" coins. Ira Reed, a coin dealer from Philadelphia had 104 sets of both the 1937 Lincoln Cent and Buffalo Nickel reeded at a Philadelphia machine shop.
They were made to be distributed at the 1941Philadelphia ANA Convention.
Some were given out as souvenirs, and the rest were sold for 4 or 5 Dollars each.
The "reeding" of the coins was a play on Ira's last name. (Reed)
Authenticity has always been a problem with these coins, as anyone could reed the edges of 1937 coins and pass them off as genuine.
Pete
Altered coins, nothing more. Worth face value IF you can find someone to accept them.
Agreed Roger.....Ira's big moment came when He sold Eliasberg a 1933 Double Eagle in 1944 (and that coin wasn't altered).
Too bad He had to forfeit it to the Secret Service later.
Pete
OK, I am definitely not the sharpest blade in the box.
Some guy takes some coins and has them modified, and they become something special.
I do not get it.
Seems that some later thought or promoted the idea that they may have been reeded at the mint. I recall seeing some in 1980's Coin World ads at insane prices implying, or maybe out right saying they were done by the US mint.
Not sure if Ira Reed made it clear what they were or if others later just mistakenly thought or intentionally pushed them as mint made. Whatever the case, they became collected as possibly real though pretty much discredited as a mint product now. Yet they are still collected for what they are now.
"To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin
@RogerB said: "Altered coins, nothing more. Worth face value IF you can find someone to accept them."
Roger, you need to get out in the world more.
Collectors collect collectibles! If you make one "they" will want it. For example, I collect altered coins and counterfeits. Some that I don't have (1796 FH dollar of the type that passed the TPGS's until they were detected) cost well over $100 if you can get one out of a dealer's hands who paid over a thousand dollars for it! I paid $50 for a VG 1916-D Mercury dime with an added "D" at the FUN Show and I'll guarantee that I could sell every reeded edge nickel and cent I could make for at least $50!
Well, I got $700 for the set I sold, but you are certainly entitled to believe whatever you want to believe.
An authorized PCGS dealer, and a contributor to the Red Book.
Anyone, anywhere can cut coin-like reeding on plain edge coins. They are nothing more than altered coins and, at best, described as worthless novelties similar to Lincoln smoking a pipe or state outlines stamped on coins.
The reference to "that old Brasher fool" seems a little confused. Brasher was engaged in the common practice of "regulating" circulating gold pieces. His counterstamp helped ensure an accepted value for the gold piece. Ira Reed did nothing except alter some pocket change.
Glad you made money off a buyer. That does not change anything except reinforcing your exceptional salesmanship.
I was not familiar with these.... and if I had 'found' one, I would have considered it to be an altered coin - though I would certainly have kept it as a curiosity. @Charmy... those are great IHC's and certainly professionally done...Cheers, RickO
Roger,
Anyone, anywhere CANNOT put "acceptable" edge reeding on a coin. It takes a certain amount of skill and the "right" tools. These items are collected by folks and they do bring strong prices as part of numismatic history. Many of them in collections MAY NOT be "originals." And yes, the coins have been altered.
Morning' guys -
I'm waiting for my Loomis shipment back from the FUN
show, and I'll take a close look at the 2-pc set in a day or two.
I can say that the sets and singles I've handled over the decades
did not have 'hand-made' reeding - it was done by some type of
machinery.
They're collectable as ANA or numismatic exonumia, and there
is decent demand for them, even though they are novelty items.
I don't believe the story that they might have been made at the
Phily Mint - but just like many numismatic items have been
'customized' (Mel Wacks's overstrikes, and many more examples)
they are collectable.
Just one of a long chain or list of numismatic items that have a
story that's appealing to some collectors.
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
My friend sold them at the FUN show
Interesting.
RE: "Anyone, anywhere CANNOT put "acceptable" edge reeding on a coin. It takes a certain amount of skill and the "right" tools."
Find anyone with a home shop or after hours in a business machine shop, motor repair, car repair and so forth. They can put together something very quickly using a cheap knurling tool. Back in the 1930s, home machine shops were a common hobby and part-time business.
My non-buyer/seller opinion - obviously not embraced by many here - is that they are worthless novelty items made by altering coins. Why don't Lincoln-smoking-a-pipe novelties sell for the same - they are no different?
Don't hate on what others "accumulate."
For whom the shoe fits, Dale Carnegie taught these "Fundamental Techniques in Handling People:"
1.Don't criticize, condemn, or complain. When people are criticized or humiliated, they rarely respond well and will often become defensive and resent their critic. To handle people well, we must never criticize, condemn or complain because it will never result in the behavior we desire.
2.Give honest and sincere appreciation. Appreciation is one of the most powerful tools in the world. Honest appreciation brings out the best in others.
3.Arouse in the other person an eager want. To get what we want from another person, we must forget our own perspective and begin to see things from the point of view of others.
So ... there is no reason to criticize what other people collect. We collect what makes us happy. To each their own without pretentious judgement -- please!
ANA LM
USAF Retired — 34 years of active military service! 🇺🇸
Ira's coins have a "story" behind them. It attracts collectors who want to own them because of that.
If I want to collect rocks off the street.........those rocks mean something to ME. They're just worthless to everyone else.
Unless, of course, I become real real famous.
Collectors would by buying "Pete Rocks" (of course, only certified examples)
Pete
And yes..............I do have "rocks" in my head!
We are not in the 30's, 50's, or 70's anymore. Today, most have a hard time turning on a faucet much less replacing one as DIY'er did in the past. BTW, I was going to mention these novelties and rolled out cents but they are different.
I read his book three times. Unfortunately, I have not been able to follow his advice.
Can't wait to see these, if they are as well done as claimed. I've never heard of them before this thread.
Collector, occasional seller
Neither can Roger.
ANA LM
USAF Retired — 34 years of active military service! 🇺🇸
This one hits close to home for me. When I lived in Germany some years ago, my friends wondered why I had an old mossy brick in my apartment. Ugly, dirty, valueless.
It was a keepsake from a visit to the ruins of a certain dictator's mountain home in the Bavarian Alps near the Austrian border. The brick was not meant to memorialize the bad things that originated there but rather to celebrate the defeat of those ideas. I loved the history behind it but I never tried to explain it to others.
As for reeded coins, THOSE reeded coins have the backstory that sparks an interest and a value. If you make some in your garage they are just an odd curiosity.
It is true that any skilled machinist could put a decent looking reeded edge on a plain edge coin.
However, it would be very difficult to duplicate the style of the ones accepted as originals, correctly matching the width, shape and spacing of each reed.
The real hard part is in deciding which ones are the accepted ones to compare a piece to. I do not have any photos or other information.
Fun thread from 2-11-2012 Mike Wallace !!!
About ten years ago I ebay'd up a reeded 1937 1c arriving in new as the day it was struck BU with a sellers reference to "Ira Reed, ANA Show" in the listing.
Over the years I spent a few hours looking at it under awesome magnification, via my collection of old 16mm movie projector lenses, and I came to the conclusion my Bad Penny was struck in a reeded collar, and not a smooth collar.
I collect errors, actually specialize in collecting errors since 1979. I like to dig into the how and whys certain things exist.
I know, I hear you all, "no way it was struck with a reeded collar", but I think it was.
For what that's worth, my little reeded 37 cent is pretty darn interesting.
;^)
Lindy
Here is a link to a set that Heritage auctioned in June 2016 for $1,997.50. Had no idea they were bringing that kind of money. But it does not include any good photos of the edges. So how to tell the original alteration from a later alteration?
.
.
https://coins.ha.com/itm/lincoln-cents/1937-1c-lincoln-cent-and-buffalo-nickel-reeded-edge-set-uncirculated-uncertified-total-2-coins-/a/1236-3160.s
.
.
.
Here is a link to some photos on Worthpoint.com. One shows the edge of the nickel fairly well.
It includes the following in the description: "Ira S. Reed offered 104 sets of 1937 Cent and Five cents with specially reeded edges. He implied that they were made at the mint and sold the two-coin sets for $4 each. These were later proven to have NOT been made at the mint and that Ira Reed had them done outside the mint."
.
.
https://worthpoint.com/worthopedia/6140-1937-s-cent-nickel-reeded-edge-132131691
"To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin
There's a lot of talk about telling the difference
between the 'originals' and any counterfeit reeded
edge 1937 Cents and Nickels.
Although that possibility certainly exists, I can state
that in my opinion, I've never seen an altered set
of reeded edge coins. They all have the same type
of reeding, imo, including the set I bought last week
at FUN.
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
Which begs the question:
Was the term the "reeded" edge named after Ira Reed?
Interesting posts.
Those are neat........just how much are these coins worth?
The term was a play on words because of Ira's last name (Reed) as far as the reeded coins He made for the ANA convention.
Pete
Thanks a lot, JBK
Pete
What do they go for today?
BHNC #203
See six posts above -
the latest sale, apparently,
was Heritage, June 2016,
for$1,997. I wasn't aware of
this till that post.
I've looked closely at the reeded
edges of the set I just bought,
and as will be no surprise to
anyone, they're not reeded at
the Phily Mint.
I could see, back in the '40's, where
some collectors could have thought,
or believed when told, that they were
done at the Mint, but given today's
knowledge of coins (and US Mint
reeding) - but the reeding is pretty
darn good, uniform, and didn't
damage the rims of either coin.
The weights are normal and within
tolerance too.
for PCGS. A 49+-Year PNG Member...A full numismatist since 1972, retired in 2022
Thank you
BHNC #203
I got a call today from J&M Machine shop looking for a couple rolls of 1937 cents and buff's. Hmm, wondering if they have read this thread.
On the subject of worthless collected junk, I finally moved this to the safety deposit box, and put it in an envelope with a note, a nasty jagged chunk of steel, a little larger than a quarter and 3x the thickness. It only has meaning to me (and I guess my kids) as it is a piece of a mortar shell that went through the top front of my helmet, through the liner, through the top of my head but not deeply and lodged in the back of my helmet.
VERY significant to me.
Thanks for link to the Heritage auction, I wish HA had included some pictures of the reeding.
Yikes!
I gave your post a "like" but I didn't mean that I liked the little journey that piece of scrap took across your head, but rather that I liked the fact that you preserved it. I hope you have an adequate written history (may even consider a notarized explanation?). That is a relic that deserves to be preserved for history. That sort of personal artifact on display in a museum helps bring history alive.
Glad you made it. And thank you for your service!
Amen to that. That's more than I would need to feel alive every day.
"A dog breaks your heart only one time and that is when they pass on". Unknown
wonder if the grading services will slab these?
a.k.a "The BUFFINATOR"