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Smithsonian Endowed Chair in American Numismatics
RogerB
Posts: 8,852 ✭✭✭✭✭
Should collectors and hobby/business organizations Smithsonian endow a Smithsonian "Chair in American Numismatics?"
There are several financially secure collectors who could do this at $200,000 per year and not even notice the 'small change' missing.
Smithsonian and government budgets are thin and have no room for this kind of thing, especially in a low-interest subject.
Anyone want to chime in?
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Given the way the Smithsonian manages its numismatic resources/collection ... a resounding NO.
I have to agreed.
They can't take care of what they have, the funds will wind up in a general fund
BHNC #203
Back in the late 1960's, the museum would get objects, specimens, and material collected from all over the world. On occasion the curator of a department, say "Gems and Minerals," would take out what they wanted and the rest was trashed.
Unfortunately, AFAIK no coins ever met that fate. 
A chair endowment means the money can only be used for the stated purpose - nothing else.
As for "They can't take care of what they have" I agree, however, they do not have the staff to do the job. The situation cannot change unless resources are dedicated to it.
I was terribly disappointed in their numismatic display at the Museum of American History. Poorly planned.
Understood - since they have no real numismatist there, little more would be expected. Imaging what 5 years of having John Kraljevich on site could do!
$200,000 total salary & benefits per annum requires at least $8,000,000 in endowment principal at today's average 10 year USTN yield (which is the kind of fairly safe thing to park a long-term endowment). I realize my thinking regarding how to handle such money is conservative, maybe too conservative.
Nor is $200,000 big money in expensive Washington D.C. and its environs.
Getting this money seems dicey to me.
Not a terrible idea. A bit difficult to establish and there would be some challenge finding the right person. Who would they report to? Even the ANA can’t keep things from wandering off.
A good idea in itself, however, the logistics may well require more funds than that mentioned. Once established, the costs grow - authentication, displays, inventories etc.. $200K would likely be a maintenance figure after initial establishment and operational setup. Cheers, RickO
SI has expert staff to do all the things mentioned and they are part of SI general overhead. I refer only to the annual expense of 1 numismatist paid from outside endowment (or contract) funds.
ANA has no expertise in managing this kind of thing. While Doug Mudd is excellent at the ANA museum, and was formerly Collection Manager at SI, I feel that SI needs someone like JK in this position. That's not a specific recommendation - only a conceptual one.
For anyone interested, here's the Smithsonian named endowments page. It includes information on how to create one as well as a list of the existing ones. Imagine if there was a Newman or Pogue endowment?
https://library.si.edu/donate/endowments
The Alice Eve Kennington Rare Book Endowment
The Alice Eve Kennington Rare Book Endowment was established in 2000 by Dr. Ellinor Michel to honor her mother, Alice Kennington. The endowment funds the acquisition and preservation of Natural History rare books.
The Arts Libraries Endowment for the Smithsonian Libraries
The Arts Libraries endowment was launched in 2009 with the proceeds of the Libraries' 40th Anniversary Ruby Gala. It supports the five art libraries located in the Smithsonian Cooper-Hewitt, National Design Museum in New York, the Smithsonian American Art Museum/National Portrait Gallery, the National Museum of African Art, the Hirshhorn Museum and Sculpture Garden and the Freer and Sackler Galleries.
The Augustus and Deanne Miller Acquisitions Fund
Longstanding friends and supporters of the Smithsonian institution Augustus “Gus” Miller and his wife, Deanne Miller, established the Augustus and Deanne Miller Acquisitions Fund for the American Experience in 2011.
The Bailey Family Endowment
Juliane K. Bailey created The Bailey Family Endowment in 2005 to support the Libraries at the discretion of the Director.
The Brian J. and Darlene Heidtke Preservation Endowment
The Brian J. and Darlene Heidtke Endowment was instituted in 2002 to support our Book Conservation Laboratory and Preservation Services Department.
The Bruce Collette Fishes Acquisitions Endowment
The Bruce Collette Fishes Endowment was established in 2004 to benefit fishes research at the National Museum of Natural History Library.
The C. Michael Gooden and Diane Oksanen-Gooden Endowment
Michael and his wife Diane initiated an unrestricted endowment in 2002 to provide a stable future for the Libraries.
The Cooper-Hewitt National Design Library Endowment
The Cooper Hewitt National Design Library Endowment was created in 2006 with the proceeds of a Libraries’ fundraising event. The event featured a preview of the Art and Antique Dealers League of America’s Connoisseur’s Fair at the Gramercy Armory in New York City.
The Dibner Library of the History of Science and Technology Endowment
The Dibner family has been generously supporting the operations and projects in the Dibner Library of the History of Science and Technology for many years. Dr. Bern Dibner gave the rare book and manuscript collection to the Smithsonian Libraries in 1974 and the Library opened in 1976.
The Frank J. and Betty M. Quirk Endowment
The Frank J. and Betty M. Quirk Endowment began in 2000 to support the technological needs of the Libraries.
The Frederick Bayer Endowment for Natural History Acquisitions
In 2005 Dr. Frederick “Ted” Bayer created the Frederick M. Bayer Endowment for Natural History Acquisitions. Ted Bayer was a Smithsonian curator who published over 130 papers and books on the taxonomy and natural history of soft corals.
The Gwendolen Rochester Leighty Endowment for the Smithsonian Libraries
Through funds generously donated from her friends and family, The Gwendolen Rochester Leighty Endowment was established in 2007 and funds Smithsonian Libraries acquisitions including books, journals, and electronic databases, and also supports staff development.
The John L. and Hope L. Furth Endowment for the Smithsonian Libraries
The John L. and Hope L. Furth Endowment for the Smithsonian Libraries began as an unrestricted fund in 2005 to further the Libraries’ mission. The Endowment has helped to engage the public and research communities to foster diverse learning experiences and has offered opportunities to increase and diffuse knowledge.
The Joseph F. Cullman 3rd Endowment for the Natural History Rare Book Library
Joe Cullman established the Joseph F. Cullman 3rd Library endowment in 2001 to underwrite the operations and programs of the rare book library in the National Museum of Natural History. The Library was named in his honor.
The Joseph F. Cullman 3rd Endowment for the Preservation of Natural History Rare Books
The Joseph F. Cullman 3rd Endowment for the Preservation of Natural History Rare Books was created by Mr. Cullman in 1998.
The Linda R. Gooden Endowment for the Smithsonian Libraries
Smithsonian Libraries Advisory Board Member Linda R. Gooden launched her endowment for the Smithsonian Libraries in 2012. This endowment supports the Libraries efforts in acquisitions, education, digitization, and other programs in aviation, aeronautics, and space exploration.
The Lloyd and Charlotte Wineland Library Endowment for Native American and Western Exploration Literature
In 1997, Nancy Wineland Castle established the Lloyd and Charlotte Wineland Endowment, in honor of her parents, to support the acquisition of Native American and western exploration library materials.
The Margery F. and Edgar M. Masinter Fund for the Acquisition and Preservation of Illustrated Books
The Masinters made a commitment in 2002 to form the Margery F. and Edgar M. Masinter Endowment for Illustrated Books, a fund that enables the Libraries to acquire and preserve illustrated works in all subject areas of the Libraries’ holdings.
The Margery F. Masinter Endowment for the Cooper-Hewitt, National Design Library
Originated in 2003, this endowment has been used to supplement general acquisition funds for the purchase of design and decorative books for the Cooper-Hewitt, National Design library.
The Nancy E. Gwinn and John Y. Cole Endowment
Nancy E. Gwinn, current director of the Smithsonian Libraries, and her husband, John Y. Cole, Director of the Center for the Book at the Library of Congress, created this named endowment in 2003. The Nancy E. Gwinn and John Y. Cole Endowment supports interns undertaking various projects among the many departments at the Smithsonian Libraries.
The National Museum of American History Library Endowment
The National Museum of the American Indian Library Endowment
The Rollyn Osterweis Krichbaum Memorial Program Fund for the Public Understanding of African Art and Culture
In 2012 Ruth Selig, a longtime staff member at the Smithsonian, committed to a permanent endowment in memory of her identical twin sister, dedicated to educational and scholarly programming, scholars’ residencies, and exhibitions organized by the Warren M. Robbins Library in the National Museum of African Art.
The Ronald J. and Deborah A. Monark Endowment
In 2011, former Smithsonian Libraries Advisory Board Chair Ron Monark founded the Ronald J. and Deborah A. Monark Endowment Fund. These funds are discretionary funds and support the Libraries in serving the information needs of the Smithsonian and beyond.
The S. Dillon Ripley Library Endowment
In 1993, the Smithsonian Libraries instituted the S. Dillon Ripley Library Endowment to celebrate the 80th birthday of one of the Smithsonian’s greatest leaders.
The Smithsonian Libraries Endowment for Serials Acquisition and Preservation
Dr. F. Christian Thompson, past Smithsonian Libraries Advisory Board member and a research entomologist for the United States Department of Agriculture, established the Smithsonian Libraries Endowment for Serials and Acquisitions in 2000.
The Smithsonian Libraries General Endowment
This general purpose endowment was launched in 1997 with income from sales and licensing of products made using illustrations from the Libraries colorful collections.
The Smithsonian Libraries’ Endowment for Wildlife Conservation
The Smithsonian Libraries’ Endowment for Wildlife Conservation was formed in 2007 from the proceeds of a fundraising dinner at the National Zoological Park (NZP). The dinner, which was called “An Escape to the Wild Side”, was hosted by Animal Planet television host, Jeff Corwin.
The Special Collections Endowment
The Libraries created its first endowment in 1992 with the proceeds of a sale of duplicate rare books. Income from the Special Collections Endowment is used to purchase rare books.
The Warren M. Robbins Library Endowment, National Museum of African Art
The Warren M. Robbins Library Endowment was created in 2006 to promote the resources of the National Museum of African Art’s Library and increase access to the world’s premier resources in African art, history, and culture to scholars, teachers and students across the globe.
The Zug Family Amphibian and Reptile Endowment for the Smithsonian Libraries
The Zug Family Amphibian and Reptile Endowment was established in 2008 by Dr. George Zug, emeritus Research Zoologist with the National Museum of Natural History, Division of Amphibians and Reptiles. With this endowment, the Libraries’ annual subscriptions to periodicals devoted to biology, evolution, and systematics of amphibians and reptiles held generally in the Libraries' zoology branch with be expanded and supported for Smithsonian researchers and visitors.
Our current academic endowments at The University of Texas System consistently return between 4 and 5 percent, so a smaller endowment of $5M, may be sufficient.
Now ... the selection and appointment of such a person to the position will likely be based on more than actual or perceived numismatic knowledge. At an annual salary in the $150K neighborhood ... more than a couple people will apply and/or lobby for the position. That does not even consider the "political pressure" that the ANA and ANS may try to exert if such a position becomes a reality.
Despite all the silliness that may ensue ... I think a "Chief Numismatist" for the Smithsonian collection would be great.
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
What about Numismatist in Chief of the United States National Museum
That older name for the Smithsonian seems more official.
A rose by any other name ...
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
Naming can be a fun exercise.
We have POTUS for the President and SCOTUS for the Supreme Court.
Some how NOTUS for Numismatist doesn't have the same ring. Is there another good option ending in OTUS?
Zoins - Quite an impressive list. I can think of quite a few large collection owners who easily have the means to do this - if they wanted to.
Newman is already funding the NNP 100%, but there are others around.
I would consider committing to donating $200k a year for 10 or 20 years for a named chair, but no way would I ever consider handing over $5-8M lump sum
SI's directors are open to opportunities and suggestions. One does not need to give them a lump sum to draw down, or to use as investment with the proceeds paying the annual stipend.
Part of the preliminary work is to identify the parameters of a SI American Numismatics Chair, basic job/tasks description, proposed duration, compensation, and possible persons to fill the chair. SI could be allowed to select from a per-qualified field of numismatists, but SI should not have any more latitude than that. (Otherwise, SI would hire an academic with little practical of specialist interest in American Numismatics, and that would be a waste of resources.
TDN, or anyone else who might be interested, can PM me and I will obtain SI details. I have several contacts there as well as other avenues.