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The Parmelee Collection

I just saw this article of Greg Reynolds and the day before I was reviewing the Parmelee auction catalogue of 1890 myself:
The article:
https://coinweek.com/us-coins/greatest-u-s-coin-collections-ever-auctioned-part-2-parmelee/
The auction catalogue:
https://nnp.wustl.edu/library/auctionlots?AucCoId=26&AuctionId=513828
https://www.archive.org/stream/catalogueoffines00newy#page/62/mode/2up

Besides the 1796 no stars quarter eagle (MS 65) and the 1831 half eagle (MS 67), I also could trace my 1793 Chain Cent (66) and the 1808 quarter eagle to the Parmelee collection.

Amazing how cheap some coins sold back then, and the most expensive coin, the 1822 half eagle, was a fake coin.

Comments

  • ColonelJessupColonelJessup Posts: 6,442 ✭✭✭✭✭

    While I have not confirmed this, I've read several times that Parmelee's price code was "MENDACIOUS"; used as a reference to coin dealers of the time. ;)

    "People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf." - Geo. Orwell
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭

    BEGUILED was used prior

    m

    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • Wabbit2313Wabbit2313 Posts: 7,268 ✭✭✭✭✭

    The 1878-1889 proof sets selling for 3 and 4 bucks! Wow.

    Cool that you can trace your coins back to this auction. That catalog is really cool.

  • OldIndianNutKaseOldIndianNutKase Posts: 2,700 ✭✭✭✭✭
    edited October 19, 2017 3:13PM

    GREAT POST PRCC. Historical importance cannot be overstated in numismatics. And, of course, everyone today would love to have a Parmellee coin intheir collection. But given the extent of his collection, there is the probably we might have one of his coins in our collection.

    But if he assembled this collection baking beans, I would really like one or two of his bean recipes........

    OINK

  • yosclimberyosclimber Posts: 4,572 ✭✭✭✭✭

    @ColonelJessup said:
    In the Stacks 00/10 sale, Don Kagin, @MrEureka and I were lucky enough to buy the Parmelee 1792 Silver Disme (J-9-,R--8) for $103,500 (in the days of 15% juice) with Jim McGuigan as our underbidder. I would describe it, slightly embellishing the catalogue description, as "VF details, with (wholesome original) scratches as pedigree marker from its initial public appearance in the 1890 Parmelee sale. One finer is noted by Breen in a New York collection, and a quite inferior piece alluded to by him has not been heard of for decades" ...



    from the Newman Numismatic Portal:
    https://archive.org/stream/65thanniversarys2000stac#page/48/mode/2up

  • @ColonelJessup said:
    In the Stacks 00/10 sale, Don Kagin, @MrEureka and I were lucky enough to buy the Parmelee 1792 Silver Disme (J-9-,R--8) for $103,500 (in the days of 15% juice) with Jim McGuigan as our underbidder. I would describe it, slightly embellishing the catalogue description, as "VF details, with (wholesome original) scratches as pedigree marker from its initial public appearance in the 1890 Parmelee sale. One finer is noted by Breen in a New York collection, and a quite inferior piece alluded to by him has not been heard of for decades" , While I haven't checked the NNP, Stacks archives are unavailable. The great cataloguing of the Patrick AU by Heritage tells the story with more detail.

    The next day, Stacks customers' man, counterman and cataloguer Tom Panichella, a good friend whom, in this situation, I considered the assigned senior Stacks numismatist not named Stack; ;), surprised me at lot pick-up by soliciting a quote. To which I truthfully, earnestly and (keeping all options open, even those not considered three seconds before) blatantly manipulatively trolling (as Stacks had partially taught me) replied "Your guy would have had to pay a lot more to buy it last night. I couldn't give you a quote without talking to Dr. K., and I think he's got a customer, but we'd listen. I can wait a or two day to ship".

    The next day Susan Stack called and, confirming my negotiating skills, notified me that the coin had been shipped at 2PM the previous day after Don gave her his insurance info. :* It was really hard to make money from the Stacks when you were selling. OTOH, their virtually all-raw auctions were a turkey-shoot-and-a-half back then. B)

    Don sold the coin for $150,000 the next day and we got paid a week after the auction invoice was due. Being jerked around on payment is something dealers have to tolerate when dealing with others. :*:s 90% of it is other dealers anyway. >:)

    Collectors usually are higher-quality folks o:):#:*

    A dozen years ago, I almost peed my pants when, eyes sparkling, prefaced by the statement "And no, I don't know where the $5 is" as he handed it to me, I received the Parmelee 1844-O $10 from Bob Lecce to admire in-hand. Then NGC PF65UCAM, now PCGS SPBM64.

    Cumulatively, after 40 years as a dealer, fondling this kind of stuff is cooler than owning it. :D

    Auction lot viewing has taught me more than anything else in my career. o:)

    Thanks to @Analyst for the article and @OJ for re-publishing :)

    What an amazing story, thanks for sharing !

  • The 1890 Parmelee sale was a great one for sure. @privaterarecoincollector, it is amazing that you have four great coins from this sale!
    --> @WDP: it might be even more, its annoying a bit that we cant trace the coins really, the pictures are not good enough and the descriptions (very fine means MS 67 sometimes) not very helpful.

  • amwldcoinamwldcoin Posts: 11,269 ✭✭✭✭✭
    edited October 19, 2017 4:03AM

    I believe this is the 1st post you have written I have read that was in pure layman's speak! B)

    @ColonelJessup said:
    In the Stacks 00/10 sale, Don Kagin, @MrEureka and I were lucky enough to buy the Parmelee 1792 Silver Disme (J-9-,R--8) for $103,500 (in the days of 15% juice) with Jim McGuigan as our underbidder. I would describe it, slightly embellishing the catalogue description, as "VF details, with (wholesome original) scratches as pedigree marker from its initial public appearance in the 1890 Parmelee sale. One finer is noted by Breen in a New York collection, and a quite inferior piece alluded to by him has not been heard of for decades" , While I haven't checked the NNP, Stacks archives are unavailable. The great cataloguing of the Patrick AU by Heritage tells the story with more detail.

    The next day, Stacks customers' man, counterman and cataloguer Tom Panichella, a good friend whom, in this situation, I considered the assigned senior Stacks numismatist not named Stack; ;), surprised me at lot pick-up by soliciting a quote. To which I truthfully, earnestly and (keeping all options open, even those not considered three seconds before) blatantly manipulatively trolling (as Stacks had partially taught me) replied "Your guy would have had to pay a lot more to buy it last night. I couldn't give you a quote without talking to Dr. K., and I think he's got a customer, but we'd listen. I can wait a or two day to ship".

    The next day Susan Stack called and, confirming my negotiating skills, notified me that the coin had been shipped at 2PM the previous day after Don gave her his insurance info. :* It was really hard to make money from the Stacks when you were selling. OTOH, their virtually all-raw auctions were a turkey-shoot-and-a-half back then. B)

    Don sold the coin for $150,000 the next day and we got paid a week after the auction invoice was due. Being jerked around on payment is something dealers have to tolerate when dealing with others. :*:s 90% of it is other dealers anyway. >:)

    Collectors usually are higher-quality folks o:):#:*

    A dozen years ago, I almost peed my pants when, eyes sparkling, prefaced by the statement "And no, I don't know where the $5 is" as he handed it to me, I received the Parmelee 1844-O $10 from Bob Lecce to admire in-hand. Then NGC PF65UCAM, now PCGS SPBM64.

    Cumulatively, after 40 years as a dealer, fondling this kind of stuff is cooler than owning it. :D

    Auction lot viewing has taught me more than anything else in my career. o:)

    Thanks to @Analyst for the article and @OJ for re-publishing :)

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Very interesting thread.... although not personally a fan of coin provenance, being able to trace the history of individual coins for well over a hundred years is certainly intriguing. One wishes that could be done with a lot of coins... not through catalogs, but through personal possession.....unfortunately, that cannot be done. However, the imagination allows for what is likely a more colorful history of most coins... ;) Cheers, RickO

  • MrEurekaMrEureka Posts: 23,892 ✭✭✭✭✭

    @ColonelJessup said:
    While I have not confirmed this, I've read several times that Parmelee's price code was "MENDACIOUS"; used as a reference to coin dealers of the time. ;)

    Actually, I think it was George Clapp, not Parmelee.

    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • ColonelJessupColonelJessup Posts: 6,442 ✭✭✭✭✭
    edited October 19, 2017 10:22AM

    The guy who nailed this one on "Wheel of Fortune" is my reference.
    Your alternative fact? Other than those noted in the three embarrassing PM's I've received in the last hour...... ? :*
    One of them neglected to tell me I also misspelled "Partrick" :o

    "People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf." - Geo. Orwell
  • WDPWDP Posts: 517 ✭✭✭✭✭

    At least everyone has Parmelee spelled correctly here. It is one of the most misspelled names in Numismatics, often spelled as Parmalee vs. the correct Parmelee.

    W. David Perkins Numismatics - http://www.davidperkinsrarecoins.com/ - 25+ Years ANA, ANS, NLG, NBS, LM JRCS, LSCC, EAC, TAMS, LM CWTS, CSNS, FUN

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