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Famous & Notable Collections
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Famous Coin Collections
There are certain great collections that carry considerable "cachet" in any collectibles field. Numismatics is no exception. The chief reason to collect coins is for the satisfaction and fascination collecting brings, however, there is no getting around the fact that numerous coin collectors have enjoyed handsome monetary rewards from their collections. Detailed below are some examples of famous collections assembled over the years:
The Eliasberg Collection
Louis Eliasberg was a Baltimore financier who began collecting coins in the 1940s. By the late 1950s he had accumulated the most complete, high quality collection of U.S. coins ever formed. His gold coins were auctioned in 1982 for $12.4 million. Two additional auctions were held in 1996 and 1997 yielding more than $40 million in total.
The Norweb Collection
Like many great collections, the Norweb Collection was formed over a number of generations, spanning from the 1890s to the 1980s. When the collection, which contained 95% of all U.S. regular issue coins, was auctioned, it fetched more than $10 million.
The Garrett Collection
The Garrett Collection was another collection that was the result of the efforts of several generations of the same family. In this case it was begun in the 1870s and continued until the late 1930s, after which it was donated to Johns Hopkins University in Baltimore. The Garrett Collection was auctioned over several sales in the 1970s and 1980s, bringing over $25 million in total, ranking it behind only the Eliasberg Collection in terms of value.
Oliver Jung Collection
A partner in a successful German software company, Mr. Jung started his coin program in 1998. He commenced the assembly of a U.S. Type Set - an example of each different coin design - attempting to acquire the Finest Known (or Condition Census) of each Type. After having spent an estimated $2.7 million on 107 coins, his collection was sold at public auction six years later (July, 2004) for $5.6 million. At present he is assembling yet another world-class collection of U.S. coins.
The Stanley Elrod Collection
For much of the first part of the 20th century, branch mint coinage, like that from the Charlotte, North Carolina Mint, was overlooked by most numismatists. But a little-known collector named Stanley Elrod quietly accumulated the finest set of Charlotte coins ever assembled. Elrod was fortunate in that he had little competition for his passion at the time he was collecting. Today, branch mint coinage is extraordinarily popular.
The Byron Reed Collection
Byron Reed of Omaha, Nebraska began to collect coins relatively late in his life during the 1870s. He continued his purchases until his death in 1891. This collection is truly museum quality. In fact, most of it is still on display in the Western Heritage Museum. Only a portion was auctioned off in 1996 to raise money to renovate the museum, a decision that was not without controversy.
The John Jay Pittman Collection
Unlike almost all other coin collectors, John Jay Pittman did not come from great wealth, nor did he have unlimited funds with which to buy coins. What he did have was an uncanny ability to spot good value. Pittman actually took out a second mortgage on his home to finance his coin acquisitions and, considering that his collection eventually brought over $20 million at auction, his decision was certainly a sound one.
The Harry Bass Collection
Harry Bass was a Dallas collector who specialized in gold coinage. His collection was unique in that it was concerned with die varieties of specific issues. He was a keen student who had more technical knowledge about varieties of U.S. gold coins than anyone else. What made his collection all the more impressive is that most issues were represented not only by multiple examples, but numerous Finest Known examples as well. Eventually, although not sold in its entirety, parts of the Bass Collection fetched over $20 million at auction between 1999 and 2000.
An excerpt written about collector Harry Bass by Martin Logies, who assembled the Cardinal Collection** of early U.S. silver dollars. His collection of 61 coins sold June 30, 2005 in New York City for $5,286,895!
Bass knew exactly what he was looking for when purchasing coins for his collection. He realized that the price listed for a given rarity was, in essence, only someone else's estimate. After doing his own research and coming to his own independent assessment of its value and availability, he bid accordingly, often establishing new market prices for his purchases
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