1806 Half Dollar Restrike

Zoins · April 5, 2019 9:13PM

Just ran across restrikes of the 1806 half dollar attributed to David Proskey by Abe Kosoff. The die is now in the collection of the American Numismatic Society.

Has there been any recent information to confirm if these were struck by David Proskey, or someone else?

1806 50C Judd-A1806-1, Pollock-6150, R.7, NGC MS65

This one sold in the EPN collection in 2017 for $10,800.00.

It's amazing that Eric Newman purchased this for $20. The envelope from HA is below.

Some of these are struck paired with an embossing die for a 12-cent stamp that features a portrait of Henry Clay such as the following:

1806 50C Judd-A1806-1, Pollock-6150, R.7, PCGS MS64

This sold for $10,350.00 at FUN in 2008.

Zoins · April 5, 2019 9:39PM

Here's some info on David Ulysses Proskey (1853-1928). The photo below is of Proskey in 1926 at his home in North Caldwell, New Jersey, published in The Numismatist, October, 1928, page 617.

http://www.numismaticmall.com/numismaticmall-com/proskey-david

David Proskey is a very interesting personality in American numismatic history. Coming from a large family of industrious businessmen he had his hand in several prospects at any given time. His is a story of a young man whose hobby brought him fame and fortune over time. In the beginning he was probably involved in the Proskey Brothers mainly as an investor when his brother Alexander began a lumber business in Paterson, New Jersey, also the site where they lived. The Proskey Brothers soon became a building company, hoteliers, and then real estate brokers making many transactions over the years and a substantial fortune for the family. But, in the beginning David soon spread out to New York with an office selling stamps, coins, minerals, curios, and other antiquities. Keeping his own office he put his younger brother Samuel there after he had graduated from school during the day when he went off to work for John Walter Scott. In the evenings both would travel back home by train. Proskey probably edited Scott's Coin Collector's Journal from his own business office on many occasions but also appears to have had other duties managing the coin and medal department for Scott requiring his presence there. Scott more and more began to be overwhelmed dealing in stamps. Proskey was also well versed in stamps and was a big help to Scott as his business grew. Undoubtedly, the growth of Scott & Company can to some extent be attributed to the hard work of Proskey, which eventually led to Scott selling out to a syndicate controlled by the Calman Brothers and Henry Collin. It was because of the talent and energy of David Proskey capitalized by Scott that John W. Scott was dubbed the octopod by Frossard since he seems to have had his hands in everything working at ferocious speed dominating the markets of coins and stamps. All the while David Proskey built up his own businesses. He became established as a leading dealer in stamps and coins but more and more over time migrated to coins in the later 1890's due to the synergy of Harlan Page Smith, a financier who may have been involved with the Proskeys in their other business ventures as well.

coinsarefun · April 5, 2019 9:53PM

That is very cool on so many levels! Great research as usual too.

Zoins · April 5, 2019 10:10PM

Thanks @coinsarefun!

I just found out David Ulysses Proskey was inducted into Coin Dealer Hall of Fame in 2017. Here's the announcement and bio.

QDB gives the speech inducting Proskey into the Coin Dealer Hall of Fame in the YouTube video below.

https://www.pcgs.com/pcgscoinfacts/coindealerhof

https://youtu.be/FU_mS_UJCP0

David Proskey (1853-1928) Dealer career 1873-1928, HOF: 2017. David Ulysses Proskey was one of the unsung heroes of numismatics from the late 1800’s through the turn of the century and beyond. He was a coin dealer, stamp expert, minerologist, researcher, and writer who was active from 1873 until the time of his death in 1928. He is less well-known today because his name was often subordinate to the companies for whom he worked or owned, or to the publications for which he wrote and edited. Proskey was born in 1853. When the collecting bug hit him is unknown, but it must have been in his teens because, by the time he was twenty, his parents began complaining that his collections were taking over the house. For most of his career, Proskey operated out of New York City in a number of different locations, sometimes as a sole proprietor and, at other times, with partners or as an employee of a numismatic firm. In 1877, at the ripe old age of 24, Proskey went to work for Scott & Company as head of their coin and medal department and as editor of the Coin Collector’s Journal. At Scott’s, Proskey catalogued both coins and stamps, assisted with the production of the Scott Restrikes of the 1861 Confederate Half Dollar, and developed a numbering scheme for Large Cent varieties. His expertise extended to Civil War Tokens, California Pioneer gold, and U.S. Patterns. In 1887, Proskey struck out on his own but remained as editor of the Coin Collectors Journal through 1888. He partnered with Harlan Page Smith at the New York Coin & Stamp Company, where the two conducted a number of significant auction sales, including that of the Lorin G. Parmelee collection in 1890. In 1901, Proskey and Smith dissolved their partnership. Upon Smith’s death in 1902, Proskey resurrected the New York Coin & Stamp Company as sole owner and continued the business until his death on December 15, 1928. His coin collection was sold in several parts by Stack’s beginning in 1939. Proskey’s name appears in the pedigrees of many important U.S. coins, including scores of high-grade Large Cent varieties (of which he was an avid collector) and the unique 1787 Brasher Half Doubloon (the Lilly specimen now at the Smithsonian Institution).

Timbuk3 · April 5, 2019 11:06PM

Great write-up on all levels. Thanks for sharing !!!

Hemispherical · April 6, 2019 4:30AM

@Zoins

Love the numismatic history lesson.

RogerB · April 6, 2019 8:03AM

Interesting !

johnny9434 · April 6, 2019 9:14AM

a good read and educational. wtg

Nysoto · April 6, 2019 9:30AM

@Zoins: > Has there been any recent information to confirm if these were struck by David Proskey, or someone else?

Tompkins adds some information: The obverse die was donated to the ANS in 1949, and no examples can be traced back further than the mid-1940's. Tompkins describes a notation from Kosoff "alleging" they were struck by Proskey.

The referenced auction and NNP descriptions are incorrect, as they state this obverse die was used to strike 1806 O.123 and O.124. This obverse working die ("Obverse 11" both Overton and Tompkins) also struck 1806 T-18 (O.130) and T-19 (O-128). Both T-18 and T-19 are unique die marriages with one known.

All four 1806 half dollar die marriages have very weakly struck centers, and the most probable reason T-18 and T-19 are unique is the dies created extremely poor strikes, and the dies were pulled. The surviving 1806 Obverse 11 working die is intriguing, as it has no cracks and could have struck many more coins. Most 1806 half dollars dies were used until they shattered. Mark Borckardt discovered 1806 T-18 in 2007, and he requested my opinion on attribution which was printed in the April 2007 JRJ article "Announcing the 1806 Overton-130 Half Dollar."

Zoins · April 6, 2019 9:48AM

Tompkins adds some information: The obverse die was donated to the ANS in 1949, and no examples can be traced back further than the mid-1940's. Tompkins describes a notation from Kosoff "alleging" they were struck by Proskey.

Good info @Nysoto.

Do we know who donated the die in 1949 or Kosoff’s reasoning for attributing these to Proskey?

Also, the Newman specimen is from the Colonel Green collection. Green passed away in 1936 and Eric P. Newman and Burdette G. Johnson began the acquisition process in 1939. Their typed inventory acquisition records were recently sold. Perhaps there’s a record of this there?

https://coinweek.com/auctions-news/the-colonel-green-collection-archives-as-purchased-by-eric-p-newman/

Here’s an example page:

Nysoto · April 6, 2019 10:10AM

Tompkins does not list who donated the 1806 working die. The ANS probably has a record of the donation. This die has been pictured in many publications, but I can't recall if the history of the die after it left the Mint was traced.

The earliest auction record mentioned by Tompkins of a restrike from the 1806 working die is B. Max Mehl - Fred Olsen sale 11/1944 Lot 88. Tompkins speculated this is perhaps the example donated to the ANS in 1949 along with the die.

Zoins · April 6, 2019 12:44PM

@Nysoto said:
Tompkins does not list who donated the 1806 working die. The ANS probably has a record of the donation. This die has been pictured in many publications, but I can't recall if the history of the die after it left the Mint was traced.

The earliest auction record mentioned by Tompkins of a restrike from the 1806 working die is B. Max Mehl - Fred Olsen sale 11/1944 Lot 88. Tompkins speculated this is perhaps the example donated to the ANS in 1949 along with the die.

Good notes from Steve Tompkins. I agree the ANS likely has a record of the donation. They seem to have for many of their items going back further than this.

It seems like the Newman specimen would indicate these existed prior to Green's passing in 1936.

I hope someone can dive into Newmans purchase records to see if this is mentioned.

https://coins.ha.com/itm/books/-green-colonel-edward-hr-archives-relating-to-the-purchase-of-items-from-the-estate-of-edward-hr-green-by-eric-p-new/a/1283-15106.s

1806 Half Dollar Restrike

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