Bowers on collecting: Collecting medals in 2018 and in 1789

 

By Q. David Bowers

Today in 2018 the collecting of medals is at an all-time high. This is due to several aspects. First, an extensive collection of medals can be formed for a low cost. One of the most important sets ever produced is the Society of Medalists series issued from 1930 into the 1980s at the rate of two per year. Strikings were made in bronze (the most attractive to my eyes) and silver.

Society of Medalists Issue 31: Flag Raising on Iwo Jima. Image by Heathmacalpine. Hover to zoom.

Well-known American sculptors and artists were invited to produce medals with designs of their choice. This was a remarkable opportunity, as the standard arrangement was for a patron or sponsor to hire a medalist and direct him or her as to what to depict. A full set of Society of Medalist issues, well over 100 specimens, costs less than $10,000. While that amount of money is not trifling, the same amount will not get you very far in building a type set of United States coins or even a collection of American Gold Eagles from 1986 to date.

Three-Inch U.S. Navy Bicentennial Bronze Medal available on the Mint’s website.

Today, medals can be obtained from many sources. The U.S. Mint website has a marvelous selection of medals with historical subjects, all at reasonable prices. Auction companies, the Internet, and other sources beckon.

I recommend that you join the Token and Medal Society (of which I was a founding member in 1960). The cost is nominal, and you will be rewarded with copies of the TAMS Journal as they are issued, each with interesting articles.

Don’t take my word for the pleasure of medals. Here is what John Pinkerton said in 1789 (yes, 1789) about the subject in An Essay on Medals: or an Introduction to the Knowledge of Ancient and Modern Coins and Medals. . .

The Pleasure of Medal Collecting

The amusement arising from medals is so common and universal that we meet with few people who have not formed a little collection of some kind or another. As no axiom is looked upon as more certain than that even the minutest principles of the human mind have been the same in all ages, we must be induced to suppose that the study of medals is almost as ancient as medals themselves. . .

The principal and most common source of pleasure arising from the science of medals is their workmanship. The motives of delight which owe their origin to the other efforts of imitative art will here likewise of course predominate. A philosophic inquiry into the prime causes of our pleasures arising from art, though it would make an admirable subject for a treatise. . .

Not to enter then into that profound subject, this we know, that the most barbarous nations are more pleased with the rudest efforts of art than with the most admirable works of nature; and that, in proportion to the powers of the mind that are large and various, such, likewise, are the pleasures which it receives from those superlative productions of art, which can only be the offspring of vast genius. It follows that the creation of art alike pleases the most uninformed and the most cultivated mind.

The chief and most common amusement, therefore, which attends this study, originates from the strength and spirit, from the finish and beauty, which the engraver has displayed.

But, beside this, there are many other sources of entertainment in the science of medals. Such is the personal acquaintance which, so to speak, it gives us with all the great men of former times. Nothing can be well more amusing than to read history, with contemporary coins before you. It brings the actions, in a manner, before our eyes; and we fit, as in a theatre, with the actors before us. . .

If you wish to reach out to me for commentary, questions, or suggestions, I can be contacted via e-mail at qdbarchive@metrocast.net.

Follow us on Facebook and Twitter!

Facebook Twitter Email

BEFORE YOU COMMENT:

  1. Mint News Blog is not a retail website. If you wish to buy a coin or banknote, you should contact a reputable dealer. One of our sponsors (see ads at left and top of page) may also have what you’re looking for, so be sure to check out their websites.
  2. Per policy, we do not advise on the value, authenticity, or rarity of readers’ coins and banknotes. For this kind of assistance, you should contact a reputable dealer, preferably one who’s certified by the American Numismatic Association and/or the Professional Numismatists Guild.
  3. Vulgar and/or abusive comments will not be tolerated. Nor will trolls.
  4. Allegations of fraudulent or criminal activity against a named party, when said activity has not been proven in a court of law, will be removed.

Comments

  1. KEITHSTER says

    Still prefer the silver medals always have. Used to be able to pick the up cheep at the garage sales. Don’t think it’s as easy these days but sure it is possible and worth a try!!! Well Good Luck All”>”>”><"<"<"<"

  2. So Krates says

    OT – For all you Kruger fanboys out there, my inbox is getting blown up today promoting the 2018 Krugerrand in Ag. Patience was a virtue if you resisted the $75? tag on last years release (I know,I know, it was the super special non-bullion, bullion version) Anyway you’re looking at under $18 each. Somewhere between ASEs and CMLs. Sounds about right…

  3. John Q. Coinage says

    So Krates heading lower I think- Ag is not finding any love…… nice looking but prefer ASE for selling later IF Ag pops……also my Kim Jong Ill Is Making Korea great Again are selling great!!!

  4. KEITHSTER says

    Well it’s out there 1,590.00 for the AGE unc. at noon on Thursday. Got the survey today on site and had asked about it even though sorta new it would be today after the fix was in. Ya all in Ya right!! Good Luck All”>

  5. CaliSkier says

    From above Pinkerton essay 1789, “the most barbarous nations are more pleased with the rudest efforts of art than with the most admirable works of nature; ” This was true before then and even now! Interesting that as smart as we are , as a species, how we continue to be ignorant to the fact that we are rapidly destroying that which gives us life. We had better figure out quickly how to live on other planets as w/o the beauty and wonders of nature, our species is doomed! Sorry…. regardless of our admiration for art! Unless of course we learn how to convert art, into wine or water…. don’t get me wrong as I love a great work of art!

  6. CaliSkier says

    Now I’ll try to lighten up with a quote from an art medium known as film. Agent Smith from the Matrix says to Morpheus:
    “I’d like to share a revelation that I’ve had during my time here. It came to me when I tried to classify your species. I’ve realized that you are not actually mammals. Every mammal on this planet instinctively develops a natural equilibrium with the surrounding environment. But you humans do not. You move to an area and you multiply until every natural resource is consumed and the only way you can survive is to spread to another area. There is another organism on this planet that follows the same pattern. Do you know what it is? A virus. Human beings are a disease, a cancer on this planet. You are a plague. And we are…the cure.” And Now back to are regularly scheduled programming! Coins!!!

  7. CaliSkier says

    From past experience and following this blog for 10 years now I thought perhaps, to see if those here, are still only interested in US Mint coins primarily? Since comments have seem to have dwindled since Michael Z moved on, do some or any of you follow the link to World Mint news blog? I haven’t posted nor had many US Mint purchases since they jerked me around on a 5 oz ATB coin a few years back and locked out my ability to purchase. They made my mind up for me ,where as from what I’m reading, many of you have been talking about getting out of collecting and or liquidating!

  8. Erik H says

    CaliSkier,

    I do read World Mint News Blog and if you’ve truly have been keeping up then you know I like buying foreign silver coins as close to melt as possible. I also buy foreign silver bullion too if I like the design. As for this year’s silver Kruggarand, I wonder if they will sell more than a million or not. If they sell less than a million it will really hurt the over priced 2017 silver Kruggarands. I did buy a few 2017’s after the price drop but now I really feel ripped off. I guess I could buy a few 2018 and ” dollar cost average”

  9. CaliSkier says

    Eric H, the reason I asked, is that in the past, the mere mention of foreign coins here, would generate many negative comments. Perhaps since there seems to be less people commenting, those reading are more tolerant and just glad to read some other comments? Then again maybe not…… I’ve purchased a few Canadian coins from Gatewest, even though I do feel Canadian coins are considerably over priced! I buy what I like and have avoided the painted/circus coins…. Today I ordered up 2 of the 25th Ann 5oz Kangaroo coins from the Royal Australian Mint. One for me and the the other for my brother from the same mother! Haha….. Hopefully he’ll appreciate the gift as well as the design.

  10. CaliSkier says

    Eric H: Do you buy you Krugerrand’s direct or from dealers, such as APMEX, Kitco, EBay or ?

  11. cagcrisp says

    Looking at the pricing of the Silver Krugerrand and Considering where the USD is, the Silver Krugerrand is a buy for those looking for Silver Bullion…

  12. Throckmorton says

    2018 AGE-W almost $350 over spot. I picked up a small quantity of NGC 70s for earlier years at roughly $100 over spot.

    I collect the series because I like the burnished W but I am soooo not feeling this.

    What are your thoughts?

  13. cagcrisp says

    MOST years I buy Rolls of Bullion ASE’s. I don’t buy Unless I Think Spot is correct.

    I bought some of the Silver Krugerrand’s because I have some of the Gold Krugerrand’s and I thought the price was Correct considering where we are with the USD.

    I remember last year when I posted on here to NOT buy the 2017 Silver Krugerrand because the premium was too High and mintage was too High and that South Africa would make the Silver Krugerrand an Annual offering.

    I remember I got chastised on here for saying this would be an Annual offering because there was NO information to that effect that was printed Anywhere.

    On a worldwide basis a Silver Krugerrand should come in second place behind the ASE IF they continue the same introductory premium that is out there Currently…

  14. cagcrisp says

    For those Thinking about buying the Burnished 2018 AGE Today

    AM Gold Fix $1,244.85
    PM Gold Fix $1,245.90

    …SO… Unless Gold goes Up $5 between now and Wednesday, Instead of paying $1,590.00 you will Save $50 and pay $1,540.00 next Wednesday afternoon.

    Why Today vs. the Possibility of a Drop in price?

    Downside is that ALL 10,000 mintage limit will sell (Not likely since the last time the Burnished sold 10k+ was 2008)

    Upside is that you can save $50 (IF not next week then you still have several months before they are pulled)

    Keep in mind that the Mint did NOT mint all 10,000…

    ..SO…Even if a Big Boy was to Try to corner the market it wouldn’t happen, because not all 10,000 have been minted

    Risk / Reward Analysis…

  15. cagcrisp says

    Quit Chasing Prices…

    …Let them come to you…

    Launch week for the 2018 Platinum Proof saw sales of 7,530 @ $1,420.00

    Through w/e 07/01/2018 2018 Platinum Proof sales were 10,157 and prices were anywhere from Launch week of $1,420.00 to $1,370.00 to $1,320.00 to $1,270.00 to Current pricing of $1,220.00

    With Current pricing of $1,220.00 sales last week were 66

    …SO…Fully 99.35% of All 2018 Platinum Proofs Sold have been sold at a Higher price than Currently offered…

  16. Erik H says

    CaliSkier, I actually did a trade for my 2017 Kruggarand. The price the dealer was asking was $49 or $59 if I remember correctly. I knew the price would drop because 1 million is way too many to be considered anything but bullion. However since I could examine the coin in person vs. buying sight unseen I did the trade.

  17. Buzz Killington says

    What if they minted under 3,000 of these, and it takes a long time to sell, and then they don’t make any more? I don’t think we will see 3,000 sold at this price in the first week. I am usually a buyer on the first day, but this high premium and low demand is a very bad combination.

    I like this Burnished gold series MUCH better than the proofs, but this is the point where I am seriously considering whether it is worth it to keep this series (and others!) going. I have to stop buying some year, why not this year?

  18. Buzz Killington says

    If you go to the product page of the 2018-W AGE, it says this product is on back order.

    Could this be a stealth mint-to-demand scheme?

    Was it on back order immediately?

  19. John Q. Coinage says

    Burnished ASE are ok, but for almost $300 OVER $pot…nahhhh I have gone cold turkey the Mint has such junk these days anyway. I hate to say such, but sorry too many marginal issues, sales for YEARS (my nice low mintage 1/2 AG ASE still being sold from 2017……. 2016….. why would I buy a 2o18!? You will make a profit when AU returns to $1,6oo. Cah I agree on the AG Kruger it looks good & long history in mktplace…..but selling in the USA can result in a 1099… not where I’d want to be IF I had a stack as high as Donnie’s ego

  20. Qui Transtulit Sustinet says

    WARNING—ON-TOPIC COMMENT

    My collection includes the Society of Medalists ‘American Folklore’ May, 1969 issue (SOM 079), featuring Johnny Appleseed and Paul Bunyan.

    MACO struck 803 of this bronze 73 mm Bruno Mankowski design.

    It is a joy to behold.

    I have several of the bronze 44 mm NYU Hall of Fame Series—my two favorites are the 1963 John James Audubon (1785-1851)medal which features the Barn Owl on the reverse, and the 1974 Don De Lue designed Mathew Maury medal which includes a sperm whale.

    I also have a few Inaugural medals, including the 70 mm Paul Manship (chosen by Jacqueline Kennedy) 1961 design for JFK.

    Appreciation of the artistry and historic content of well designed bronze medals, including both past and recent U. S. Mint issues, should not be so rare on this blog.

    The overwhelmingly mercenary nature of the discussion here is disheartening.

  21. Michael says

    Also, trying to get back on topic…

    I have been focusing on French Art Nouveau and Art Deco medals as of late. Many are relatively inexpensive. Until I started that collection, I was more focussed on history, location or topical rather than just on the art itself. Which is great but a bit limiting in scope. $ is a limiting factor, but beauty can be had for fairly modest amounts of it. Here is a gallery.

    https://www.flickr.com/photos/21959223@N02/12659341265/in/album-72157641271636203/

Leave a Reply

Your email address will not be published. Required fields are marked *