Coin Collectors News

Top ANA Award Named in Memory of Chester L. Krause

Apr 25, 2022 | ANA, Announcements

The first-ever Chester L. Krause Memorial Distinguished Service Award will be presented at the American Numismatic Association’s 2022 World’s Fair of Money® in Chicago (August 16-20). The ANA Board of Governors made the decision to rename the accolade at its April 12 meeting to honor the memory and contributions of the renowned numismatic publisher.

The founder of Krause Publications, Chester L. Krause (1922-2016) grew from humble beginnings in rural Wisconsin to become one of the Association’s most philanthropic members. His namesake company’s first periodical, Numismatic News, released its first issue in October 1952. Krause funded this endeavor with $1,342 of his own money. He joined the ANA the following year.

As his business grew to include reference books and additional magazines, so did his generosity for the hobby and the ANA. In 1974 he inaugurated the Numismatic Ambassador Award, which recognized individuals who have dedicated themselves to sharing the joys of numismatics with others. Ten recipients were named in the first year, and this time-honored award is bestowed on deserving hobbyists to this day. Along with Clifford Mishler and an anonymous party, Krause supported and funded the naming of the ANA’s Money Museum in honor of former Executive Director Edward C. Rochette. Krause’s likeness appears in the museum’s plaza as a member of the Numismatic Hall of Fame, an honor he received in 1990. The publishing powerhouse received the Burnett Anderson Memorial Award for Excellence in Numismatic Writing, jointly bestowed by the ANA, the American Numismatic Society, and the Numismatic Literary Guild, in 2009. Krause was posthumously recognized with the ANA’s Philanthropy Award in 2019.

Krause has been honored with almost every ANA service award, receiving the Medal of Merit (1967), the Farran Zerbe Memorial Award for Distinguished Service (1977), the Glenn Smedley Memorial Award (1991), the Lifetime Achievement Award (1994), the Numismatist of the Year (1999), and the Exemplary Service Award (2005).

The Distinguished Service Award, established over 70 years ago by Louis S. Werner to memorialize former ANA President Farran Zerbe, was originally an engraved plaque presented “for Distinguished Service and for advancement of the Science of Numismatics rendered to the American Numismatic Association.” Over time, the award expanded to include a gold medal.

In 2021 the ANA Board of Governors voted to vacate the naming of the award to create an opportunity to name it after a contemporary figure in numismatics and to secure funding to produce the medal. When the decision was reported, historical allegations against Zerbe were also published, which some believed was the board’s indictment of Zerbe and the reason for the removal of his name. The Board of Governors clarified that this was not the case and affirms Farran Zerbe’s significance in the Association’s history. (Most notably, Zerbe, alongside George F. Heath, was inducted into the Numismatic Hall of Fame in its inaugural class in 1969.)

Funding for the naming rights for the Chester L. Krause Memorial Distinguished Service Award comes from a groundswell of support from numismatic colleagues and longtime friends and will sustain the award for years to come.

NGC-certified Chinese and British Rarities in Highly Anticipated April Sale

Apr 22, 2022 | Announcements, Auctions

NGC is proud to have certified many of the greatest rarities in Chinese and British numismatics, some of which are being featured in an auction presented by Taisei Coins and The Royal Mint. Bidding is already underway for the sale, which will be held April 29.

The highly valuable Chinese coins include a 1927 Chang Tso Lin Silver Dollar graded NGC MS 62, with an Eduard Kann Collection pedigree that was recently re-established by NGC. Another coin is an 1867 Shanghai Tael — With Rays, graded NGC PF 63+. It’s a rare survivor from a group that was mostly melted after the design was rejected by the Chinese government.

Learn about the sale’s Chinese coins →

Meanwhile, the sale includes an extremely rare Henry VII Sovereign that was hand-struck in gold over 500 years ago. Only two examples of this coin are known to be in private hands, and bidding for this one starts at ¥100,000,000 (about $800,000). The sale also features another great British rarity, an 1817 Three Graces Silver Pattern.

Learn about the sale’s British coins →

The auction, being held amid the Tokyo International Coin Convention, includes exciting NGC-certified coins from many other countries as well. Another spectacular lot is a German New Guinea 1895A 10 Marks graded NGC PF 65 Cameo and pedigreed to the Paramount Collection.

Learn about the sale’s other coins →

HOLABIRD WESTERN AMERICANA COLLECTIONS, LLC IS HOLDING A WESTERN AMERICANA AUCTION, LIVE AND ONLINE, THRU APRIL 24th

Apr 22, 2022 | Announcements, Auctions

The auction contains hundreds of lots in a wide array of collecting categories, at price points that will appeal to both novices and veteran collectors alike. Important collections will be sold.

RENO, Nev. – Holabird Western Americana Collections, LLC’s four-day Western Americana Auction begins today, April 21st, and runs through April 24th, with start times each day of 8 am Pacific time. The auction will be held online, via several platforms, as well as live in Holabird’s gallery located at 3555 Airway Drive in Reno. Hundreds of collectible lots will come up for bid.

Today’s offerings – 597 lots in all – will feature three major collecting categories: art, with just under 100 lots set to cross the auction block; Native Americana (a popular staple at Holabird auctions), featuring 65 lots; and the day’s star category – philatelic, with 52 lots of first day covers, 172 lots of postcards and 71 lots of stamps. Nearly 300 lots of philatelic will be sold.

Day 2, Friday, April 22nd, will be super-busy, with categories that include jewelry, attire, bottles, toys, circus, gaming, liquor, tobacciana, menus, the entertainment industry, sports, calendars, advertisement, autographs, photography, maps, transportation, militaria, firearms and weaponry, general Americana (geographically sorted) and miscellaneous collectibles – a total of 637 lots.

A top lot in the firearms and weaponry category is lot #2502, a trapdoor Springfield Model 1870 rifle, a full-length two-band musket of which only 1,000 were made. The model is recognized by the rear sight up against the receiver; the second model has the rear sight about one inch from the receiver. This would be a fine restoration project for a collector. It has an estimate of $300-$500.

Trapdoor Springfield Model 1870 rifle, a full-length two-band musket of which only 1,000 were made. This would be a fine restoration project for a collector (est. $300-$500).

Also offered on Day 2 is a rare, unissued Bodie Bank (Calif.) stock certificate from the 1870s. The Bodie Bank was formed in 1878. It was taken over in 1890 by JS Cain (est. $100-$200). Also, an ADLAKE (short for “Adams and Westlake”) non-sweating red and blue lens lamp, 16 inches tall, should reach $200-$300. ADLAKE did business in Chicago and Elkhart, Indiana.

: Rare, unissued Bodie Bank (Calif.) stock certificate from the 1870s. The Bodie Bank was formed in 1878. It was taken over in 1890 by JS Cain (est. $100-$200).

: ADLAKE (short for “Adams and Westlake”) non-sweating red and blue lens lamp, 16 inches tall. ADLAKE did business in Chicago and Elkhart, Indiana (est. $200-$300).

Day 3, April 23rd, will also see brisk activity. The categories will include mining, fossils, minerals, tokens and numismatics (which will feature bullion, ingots, coins, currency, dies, ephemera, foreign and medals and exonumia (numismatics, but other than coins and paper money; examples are tokens, medals and scrip). All combined, Day 3 will offer 628 lots.

One of the undisputed star lots on Day 3 promises to be the US Mint San Francisco 23.06-ounce silver ingot, 999.75 fine, sizable at 2 ¼ inches by 3 ½ inches, with original Mint patina strong throughout (est. $5,000-$9,000). Also sold will be a 5-cent token for the J. F. Hope saloon in Empire, Nevada, round and made of brass, 25mm in diameter, from circa 1890 (est. $100-$200).

: US Mint San Francisco 23.06-ounce silver ingot, 999.75 fine, sizable at 2 ¼ inches by 3 ½ inches, with original Mint patina strong throughout (est. $5,000-$9,000).

: 5-cent token for the J. F. Hope saloon in Empire, Nevada, round and made of brass, 25mm in diameter, from circa 1890 (est. $100-$200).

Day 3 will also feature numerous lots of Chinese viewing stones. For millennia, Chinese and other Asian cultures have appreciated the exquisite beauty of special stones gathered from nature. They are now widely named viewing stones by connoisseurs, collectors, and hobbyists who enjoy and share their appreciation of their simple aesthetics and sometimes fanciful beauty.

The auction’s final day, Sunday, April 24th, will contain over 600 lots, to include stocks and bonds (mining, railroad, etc.), advertising, advertising, tobacciana, 3D collectibles, toys and model railroading, photography, postcards, more philatelic, stamps, stocks, maps, general Americana and the ever-popular bargains and dealer lots, which account for 388 lots alone).

Lot 4234 is a group of seven prints by the famed Western artist Charles M. Russell (1864-1926), each one rolled up and with metal clasps on the top for wall hanging (est. $300-$400). Russell created over 2,000 paintings of cowboys, Indians and landscapes set in the Western United States and in Alberta, Canada, in addition to bronze sculptures. He was known as “the cowboy artist”.

Lot 4234 is a group of seven prints by the famed Western artist Charles M. Russell (1864-1926), each one rolled up and with metal clasps on the top for wall hanging (est. $300-$400).

Also offered on Day 4 is a group of six vintage Auto Club of Southern California maps, for Bishop, Mina, Mono County, Tonopah and Goldfield (est. $70-$120); as well as a collection of around 350 colorful labels for large cans (jams, cherries, oats, salmon, pumpkin, figs, pears, apples, macaroni, etc.), about 5 inches by 20 inches each and great for framing (est. $250-$400).

: Group of six vintage Auto Club of Southern California maps, for Bishop, Mina, Mono County, Tonopah and Goldfield (est. $70-$120).

: Collection of around 350 colorful labels for large cans (jams, cherries, oats, salmon, pumpkin, figs, pears, apples, macaroni, etc.), about 5 inches by 20 inches each (est. $250-$400).

Color catalogs are available by calling 1-844-492-2766, or 775-851-1859. Also, anyone owning a collection that might fit into an upcoming Holabird Western Americana Collections auction is encouraged to get in touch. The firm travels extensively throughout the U.S., to see and pick up collections. The company has agents all over America and will travel to inspect most collections.

Holabird Western Americana Collections, LLC is always seeking new and major collections to bring to market. It prides itself as being a major source for selling Americana at the best prices obtainable, having sold more than any other similar company in the past decade alone. The firm will have its entire sales database online soon, at no cost – nearly 200,000 lots sold since 2014.

To consign a single piece or a collection, you may call Fred Holabird at 775-851-1859 or 844-492-2766; or, you can send an e-mail to fredholabird@gmail.com. o learn more about Holabird Western Americana Collections and the four-day Western Americana Auction that runs from April 21st thru April 24th, please visit www.holabirdamericana.com. Updates are posted often.

Alabama Bill Amends Bullion Definition, Extends Expiration Date, and Repeals Reporting Requirements

Apr 15, 2022 | ICTA/NCBA, News

In the summer of 2016, Phil Darby (J & P Coins and Currency) and Steve Caiola (Alabama Gold Refinery) started collaborating with the National Coin & Bullion Association on a campaign to obtain a statewide coin, currency, and precious-metals bullion sales-tax exemption. Darby and Caiola hired Graham Champion (Public Strategies, Montgomery, AL) as the campaign’s lobbyist.

Alabama joined the other states with a sales-tax exemption on June 1, 2018. However, the statute had a five-year sunset provision to provide the state’s fiscal agency the opportunity to verify the projected benefits to the state’s revenue promoted by the campaign.

With the deadline on the sunset provision in sight, the coalition prepared to resume the fight. On February 10, 2021, Senator Tim Melson introduced Senate Bill 218: Taxation, Sales and Use Tax Exemptions for Bullion, Bullion Defined Further, Sales and Use Tax Exemption Extended, Reporting Requirements Waived for Certain Recipients of Tax Exemption. This bill would extend the sunset provision for five more years and change the definition of bullion’s purity from 90% to 80%.

Alabama is eligible to host a national coin show, but opportunities to do so had been impacted by the COVID-19 pandemic. Extending the exemption five more years would give show producers more time to bring a show to the state. Reducing the definition of bullion to 80% purity also makes sense, because some very early US silver coins had purity as low as 89.24% and some early US gold coins had a purity of 89.92%. Many European silver coins had purities as low as 83.5%. Changing the definition from 90% to 80% avoids potential technical glitches.

Darby again engaged Champion as a lobbyist. The bill was heard by the Senate Finance and Taxation Education Committee on March 11, 2021, and they unanimously passed the bill to the Senate with a favorable recommendation. After it passed the Senate, it was referred to the House Ways and Means Education Committee. Unfortunately, the legislative session adjourned sine die before there was any further action on the bill, and the bill died in the House.

On January 11, 2022, Senator Melson again introduced and championed Senate Bill 13, which amends the definition of bullion (as in the previous bill), extends the expiration date for the sales- and use-tax exemption another five years, and repeals reporting requirements for dealers. SB 13 was unanimously passed out of the Senate Finance and Taxation Education Committee on February 23, 2022, and transferred to the House, where it was read for the first time and referred to the House Ways and Means Education Committee. On March 17, the bill was read for the second time and placed on the calendar. The House Ways and Means Education Committee reported the bill favorably, and its third reading occurred on April 6, 2022, when unanimously passed. The bill was delivered to Governor Kay Ivey the following day and was signed into law on April 14, 2022. The bill is effective immediately, with a new expiration date of June 1, 2028.

“This has been a long fight. We are so grateful for the encouragement of NCBA and for Senator Melson’s advocacy of the exemption these last two sessions,” Darby said. “We know the numismatic community in Alabama will have a chance to grow in the coming years and that Alabama’s economy will be the better for it.”

Harry W. Bass, Jr. Gold Coin Exhibit Departs ANA Money Museum

Apr 13, 2022 | ANA, Announcements

The American Numismatic Association (ANA) and the Harry W. Bass, Jr. Foundation announced today that the Harry W. Bass, Jr. collection of U.S. gold coins and patterns on display at the Edward C. Rochette Money Museum in Colorado Springs, Colo., will be returned to the Foundation and sold at auction. The Money Museum has been this collection’s temporary home since October 2000.

According to F. David Calhoun, executive director and a trustee of the Harry W. Bass, Jr. Foundation, the Foundation’s board of directors recently made the decision to deaccession the Harry Bass Core Collection (HBCC) – the celebrated coin collection that Harry W. Bass, Jr. assembled – in order to concentrate on funding Dallas-area nonprofit organizations, with specific emphasis on early childhood education and literacy programs.

“The decision was bittersweet,” Calhoun said. “I’ve been associated with Harry’s collection since the 1970s. But this move will allow us to more than double our annual philanthropy budget. For a lot of nonprofits we’ve had to say “no” to previously, we’ll now be able to say “yes”. Every cent that the core collection brings at auction will go to philanthropy.”

According to Calhoun, the Harry Bass Core Collection is valued at a minimum of $50 million.

A businessman, coin collector and philanthropist, Dallas resident Harry W. Bass, Jr. (1927-1998) created one of the most complete U.S. gold coin collections ever assembled, including many one-of-a-kind specimens. Of paramount importance is a set of virtually all known die varieties of early (1795-1834) U.S. gold coin denominations ($2.5, $5, and $10) in the finest condition. The exhibit also features the only complete collection of $3 gold pieces, including the unique 1870-S; a complete type set of U.S. gold coin designs from 1834 to 1933; and a spectacular grouping of rare U.S. pattern coins.

“We have had the privilege and honor of providing a numismatic home for the Harry Bass Core Collection for nearly 22 years,” said ANA Executive Director Kim Kiick. “We are beyond thankful to the Foundation for allowing the ANA and the Money Museum to showcase this outstanding assemblage in a magnificent gallery these many years.”

The Harry Bass Core Collection will remain on exhibit at the Money Museum through June 2022. According to Kiick, the Foundation has expressed interest in assisting the museum’s efforts to retrofit and redesign the current Bass Gallery for a new exhibit by way of a grant.

The Bass family, led by Harry Bass, Sr., created and developed numerous oil and gas interests spread across five states, and the proceeds from these investments have funded many philanthropic ventures. For a number of years prior to his death in April 1998, Harry W. Bass, Jr. administered two nonprofit foundations. The first, the Harry Bass Foundation, established in 1945, was created by his father to provide support to a number of Dallas charitable and religious institutions, as well as hospitals and museums. A second foundation, the Harry W. Bass, Jr. Research Foundation, was created in 1991 as an extension of the younger Mr. Bass’s great interest in numismatics and his desire to engage in significant philanthropic endeavors in different areas. Following the death of Harry W. Bass, Jr., the two independent foundations merged to form the Harry W. Bass, Jr. Foundation to enrich the lives of citizens of Texas by providing support to qualified organizations in the areas of education, human services, civic and community, science and research, and arts and culture.

The Harry W. Bass, Jr. Foundation has selected John Dannreuther to be the representative managing the deaccession of the collection. Dannreuther will handle review and selection of an auction house and third-party grading service, along with other ancillary issues.