My Dad was from Russia and lost his family to the Nazi's and spent time in Nazi camps. Fled Europe as a young boy and made his way to the US in the mid 50's. This coin had a lot meaning to him when he finally got to own one.
yeah it was! And who it their right mind would pay $55 for a $20 coin!!! that's crazy.
In 1964 that coin had approx $34 in pure gold. Since bullion was off limits to US citizens, buying pre-1933 classic golds was one of the few ways to own gold other than jewelry. And the markup on jewelry was probably a lot more than 60%. The OPs $20 looks hand picked for condition. I would bet that with the shop providing a BU coin to you, the price might have been more in the $42-$50 range. Still, getting a 41 year old gem gold coin in 1964 for 60% over its melt value seems somewhat reasonable. When that $20 Saint was made in 1923 it did have a $20 gold content.
i was joking. many times i have heard people who don't collect coins say, "why would you pay more than [face value] for that?"
...so i was trying to be facetious with my comment. that's what the wink is for.
i guess when you have to explain a laugh, that means it wasn't that good to begin with, right?
@bkzoopapa said:
Interesting. I started there in 1968. The salesman was O. Douglas Mitsven. The coin is most likely from the J.F. Bell inventory that made up the vast majority of the original inventory in. 1962. To give you an idea of how vast it was, there were over 1000 $3 gold pieces, and type three gold dollars were kept banded in groups of 10 gem BU coins to the tune of 's50 to 100 PER DATE! The unattained goal of having all date and mint mark gold in stock was very extensive toward that end. We always tried to keep a Pan Pac set and a Stella in stock at all times, along with several High Relief $20's. Ah the good old days.
But where did Bell get his coins? He might have bought one of the felt pad hoards, or Rarcoa might have. You were the biggest game in town for a long time.
All I know for sure was that I saw several very nice 1923-D Saints in my times working in Chicago for Wally and Harlan.
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
Bell bought from a lot of dealers. Ray Yablun in Chicago supplied at lot. He loved buying groups of coins,especially fresh lots. Gold dollars and Threes were like candy to him. I had his pocket record book for years that showed where he bought and how much he paid, David Shapiro gave it to me, but I parted with years ago. His large inventory record book was at Rarcoa, but I don't know what happened to it in recent years. He died from a heart attack waiting for coins being delivered to him at Midway Airport. As far as $20 's he had them all, even telling David he owned a1933, although it was not listed in either record book. It wasn't until the book on the 1933 Twentys came out that we found out he had purchased one in NY but never got home with it as the Feds grabbed it. The story about the 1933's was on David's reading stand when he died.
@bkzoopapa said:
Bell bought from a lot of dealers. Ray Yablun in Chicago supplied at lot. He loved buying groups of coins,especially fresh lots. Gold dollars and Threes were like candy to him. I had his pocket record book for years that showed where he bought and how much he paid, David Shapiro gave it to me, but I parted with years ago. His large inventory record book was at Rarcoa, but I don't know what happened to it in recent years. He died from a heart attack waiting for coins being delivered to him at Midway Airport. As far as $20 's he had them all, even telling David he owned a1933, although it was not listed in either record book. It wasn't until the book on the 1933 Twentys came out that we found out he had purchased one in NY but never got home with it as the Feds grabbed it. The story about the 1933's was on David's reading stand when he died.
Between Capt Henway and bkzoopapa, there's nothing that will get you closer to "being there." Thanks for sharing the stories.
Comments
My Dad was from Russia and lost his family to the Nazi's and spent time in Nazi camps. Fled Europe as a young boy and made his way to the US in the mid 50's. This coin had a lot meaning to him when he finally got to own one.
i was joking. many times i have heard people who don't collect coins say, "why would you pay more than [face value] for that?"
...so i was trying to be facetious with my comment. that's what the wink is for.
i guess when you have to explain a laugh, that means it wasn't that good to begin with, right?
anyway, thanks for the analysis. it's spot on.
do you see what i there?
But where did Bell get his coins? He might have bought one of the felt pad hoards, or Rarcoa might have. You were the biggest game in town for a long time.
All I know for sure was that I saw several very nice 1923-D Saints in my times working in Chicago for Wally and Harlan.
Another 1964 purchase, I bought this one via mail order for $50 in 1964 from a Coin World dealer.
United States $20 1927
I was 16 at the time.
I still have the coin but do not have the receipt.
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Bell bought from a lot of dealers. Ray Yablun in Chicago supplied at lot. He loved buying groups of coins,especially fresh lots. Gold dollars and Threes were like candy to him. I had his pocket record book for years that showed where he bought and how much he paid, David Shapiro gave it to me, but I parted with years ago. His large inventory record book was at Rarcoa, but I don't know what happened to it in recent years. He died from a heart attack waiting for coins being delivered to him at Midway Airport. As far as $20 's he had them all, even telling David he owned a1933, although it was not listed in either record book. It wasn't until the book on the 1933 Twentys came out that we found out he had purchased one in NY but never got home with it as the Feds grabbed it. The story about the 1933's was on David's reading stand when he died.
She's a beauty. Never tire of seeing the $20 Saint G.
Between Capt Henway and bkzoopapa, there's nothing that will get you closer to "being there." Thanks for sharing the stories.
a wonderful story and i love the looks of that coin. way cool
Honestly the story about your uncle stealing isn't cool at all.
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Some how I missed this thread.
Great coin and story behind it.
Put me down for leaving it all intact, just as it is.
Thanks.
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