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Ed Reiter article.
cladking
Posts: 28,723 ✭✭✭✭✭
I was actually hoping to find the thread where someone spoke of John J Pittman collecting
clads to use this as support. Ed Reiter wrote another article in 1987 which elaborated a little
on what sort of collecting and setting aside of clad Pittman was doing. This article merely mentions
that he was collecting them all along.
Curiously enough no moderns at all appeared in the three part sale of his coins back in '97. This seems
to suggest that they are still intact as a collection.
Link
<< <i>"Pittman, for one, had been collecting clads from the very start, and buying them in a very economical way: at face value from his friendly neighborhood bank. Year after year, since 1965, he had set aside a hand-picked roll of every clad coin from every different mint.
It may not sound like much of an investment, or even like much of a collection. But, before you scoff at it, shop around and see if you can duplicate such a set. Granted, the price guides list most clads for only a nominal margin over face. Few if any dealers advertise roll sets, though, in mint condition. And the overriding reason isn't a lack of demand: It's lack of supply.
Plenty of wheeler-dealers would love to promote these coins, if only they could get their hands on them -- but most just weren't saved in promotable amounts.
Pittman was bemused by the whole scenario: Buyers, on the one hand, paying fancy prices for old-time silver dollars that were saved in huge numbers in mint condition -- and all but ignoring the scarce modern coins they could have for next to nothing.
"The thing to collect," he told me, "is what other people don't collect. That's the trick to the whole darned thing."
>>
It's an excellent article which I recommend. I don't recommend investing in any coins and this includes clad.
clads to use this as support. Ed Reiter wrote another article in 1987 which elaborated a little
on what sort of collecting and setting aside of clad Pittman was doing. This article merely mentions
that he was collecting them all along.
Curiously enough no moderns at all appeared in the three part sale of his coins back in '97. This seems
to suggest that they are still intact as a collection.
Link
<< <i>"Pittman, for one, had been collecting clads from the very start, and buying them in a very economical way: at face value from his friendly neighborhood bank. Year after year, since 1965, he had set aside a hand-picked roll of every clad coin from every different mint.
It may not sound like much of an investment, or even like much of a collection. But, before you scoff at it, shop around and see if you can duplicate such a set. Granted, the price guides list most clads for only a nominal margin over face. Few if any dealers advertise roll sets, though, in mint condition. And the overriding reason isn't a lack of demand: It's lack of supply.
Plenty of wheeler-dealers would love to promote these coins, if only they could get their hands on them -- but most just weren't saved in promotable amounts.
Pittman was bemused by the whole scenario: Buyers, on the one hand, paying fancy prices for old-time silver dollars that were saved in huge numbers in mint condition -- and all but ignoring the scarce modern coins they could have for next to nothing.
"The thing to collect," he told me, "is what other people don't collect. That's the trick to the whole darned thing."
>>
It's an excellent article which I recommend. I don't recommend investing in any coins and this includes clad.
tempus fugit extra philosophiam.
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Comments
Thanks for bringing it to the surface.
So does anyone on the forums have any firsthand knowledge about, or simply any information about the handpicked rolls of MS clad coins that Pittman collected?
Sure would be interesting to be able to look through these hand picked coins, if and when they surface in the market place.
<< <i>Interesting article Cladking.
Thanks for bringing it to the surface.
So does anyone on the forums have any firsthand knowledge about, or simply any information about the handpicked rolls of MS clad coins that Pittman collected?
Sure would be interesting to be able to look through these hand picked coins, if and when they surface in the market place. >>
I did speak to the principles in the auction and was told that there were no
such "trivial" coins in the collection. This, of course, leads me to believe that
the family was instructed to hang onto them.
I thought it was you interested in this but couldn't find the thread.
It's likely that he didn't put the effort into it to have any significant coins except
that some of these coins will be obviously non-mint set and this will raise their
value significantly especially if they are nice and choice. It should also be remem-
bered that Pittman had a remarkable eye for coins meaning there are likely var-
ities. Most modern varieties are extremely scarce or rare in uncirculated condition
because rolls and bags weren't saved. It is vaguely possible that if he had such a
good relationship with the bank that they might call him when choicer coins came
in.
I doubt anyone would love to look at these coins more than I. Aty the current
time most have little value but there are likely to be some stars among them. In
time there will be more stars but most will probably never be terribly valuable.
<< <i>I did speak to the principles in the auction and was told that there were no
such "trivial" coins in the collection. This, of course, leads me to believe that
the family was instructed to hang onto them.
I thought it was you interested in this but couldn't find the thread.
>>
Hopefully they kept them. But it seems possible the heirs could have been told they were worth only around face value and either cashed them in or sold them off long ago.
Not sure if this could be what you were looking for, but using "Pittman" and "rolls" I found this 2008 thread started by SanctionII. You posted about a Pittman quote regarding clad coins appearing in a May, 1985 Coinage magazine.
Does nayone know what the status is of John J. Pittman's collection of moderns, including clads?
"To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin
A ONE HUNDRED THOUSAND++ PERCENT return on an incredible high grade "clad era" specimen found in a hunt will not be out of the question I believe (and has already happened).
You heard it hear second ... behind Cladking's unspoken point to all this.
As always, just my 2 cents.
Wondercoin