Bowers on collecting: A really great Whitman Expo!

By Q. David Bowers

Three times a year the Whitman Coin & Collectibles Expo is held at the Baltimore Convention Center. For many years I have attended each and every one, except for March of this year when my flight was canceled due to weather.

Hover to zoom.

The most recent show was last week, opening for dealers on Wednesday afternoon and for the public at noon on Thursday. The bourse was completely sold out. Stack’s Bowers Galleries held multiple auction sessions covering just about every aspect of American coins, tokens, medals, and paper money. The highlight was Joel Anderson’s $1,000 1890 “Grand Watermelon note” which crossed the block at $2.04 million, or about twice what Mr. Anderson paid for it in 2005. At that earlier time, Tom Denly represented him and purchased it for slightly over $1 million, the first note in world numismatic history to cross that mark.

The Colonial Coin Collectors Club, nicknamed C4, held its annual meeting at the Expo, including a fine dinner with presentations by several speakers, and a lot of camaraderie at the C4 booth. Complementing this was the Archangel Collection of early American coins and other related pieces in the Stack’s Bowers auction. The auction sessions also included federal Proof notes from the Caine Collection, fiscal paper from the John Herzog Collection, and federal coins from half cents to double eagles to commemoratives—something for everyone.


Whitman, with its three yearly expos and with the publication of over 300 book titles since 2003, has been one of the most dynamic influences on the rare coin hobby. Today in 2018 the market is very strong with lots of buyers, although many prices are slightly down from the market high in August 2013. Most buyers today are not investors but are serious collectors.

Here is a secret: Over a long period of years serious collectors who carefully acquire and study coins have fared far better in price appreciation than have buyers whose only interest is investment and who have not learned numismatic basics.

Enjoy the week, and Happy Halloween!

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Comments

  1. says

    From a Pat Heller article on the just completed US Mint Numismatic Forum:

    “In all, only 47 dealers account for 97 percent of the Mint’s bulk sales. Fickling also announced that new products may gradually be added to the bulk sales program, and it may soon be possible for bulk program participants to place advance orders for forthcoming products instead of having to wait until the day they are actually released (though products would still not be shipped any earlier).”

    SO…Somebody (Insiders) is going to know Some sales numbers before others know those sales numbers.

    The following products are part of the Numismatic Bulk Purchase Program:

    United States Mint Proof Set®
    United States Mint Silver Proof Set®
    United States Mint Uncirculated Coin Set®
    American Eagle Gold and Silver Proof and Uncirculated Coins
    American Buffalo Gold Proof Coin
    United States Mint America the Beautiful Quarters Proof Set™
    United States Mint America the Beautiful Quarters Silver Proof Set™
    America the Beautiful Five Ounce Silver Uncirculated Coins™

  2. Caliskier says

    Not sure I like the sound of what you desribe above Cag?

    Purchase in bulk/advance orders, insider mintage info…… Actually I’m sure I don’t like the sound of that!

  3. Caliskier says

    A big thanks to Whitman, in addition to Mr Bowers for all you’ve contributed over the many years to the hobby!

  4. Louis says

    I don’t see anything on Pat’s article that suggests they would get advance mintage numbers, which in any event would be impossible because those are not issues with predetermined mintages. They are mint to demand coins. My understanding is that coins with limited mintages and household order limits are not part of bulk sales. For the ATBs there is an overall limit on P and bullion, but everyone knows that.

  5. So Krates says

    @ Caliskier – Which is the lowest mintage date you’re hoping for the 2018 1/2 proof AGE to knock off – and how much is it selling for?

    When asked for a non PO Box address I provide the street address for the post office along with the box number as just a number with no “P.O.” written out. Check with your post office to see if they offer this service.. Fedex and UPS packages can be delivered to your box with this method.

  6. says

    Keep in mind that Bullion Sales for the United States Mint in 2017 was the Worst since 2007…

    …SO…How does the Worst Bullion year since 2007 (CY2017) compare to Bullion CY2018?

    CY2017 Bullion Gold Buffalo first 10 months = 83,500 oz.
    CY2018 Bullion Gold Buffalo first 10 months = 114,500 oz.
    Y/Y Up 37%

    CY2017 Bullion Gold American Eagle first 10 months = 247,500 oz.
    CY2018 Bullion Gold American Eagle first 10 months = 219,500 oz.
    Y/Y Down 11%

    CY2017 Bullion Silver American Eagle first 10 months = 16,938,500 oz.
    CY2018 Bullion Silver American Eagle first 10 months = 13,540,000 oz.
    Y/Y Down 20%

    …SO…CY2018 is Tracking to be the 1st, 2nd or 3rd Lowest for the American Gold Eagle program that started in 1986.

    IF 2018 doesn’t take out the 2007 Low then it should be either the 2nd Lowest (2001) or 3rd Lowest (1996) for Total AGE oz. Sold…

  7. Caliskier says

    So Krates the 2013 PF AGE 1/2 oz series Low with LKS of 12,718 & the 2012 which final audited mintage comes in at 12,809.

    I saw a 2013 on the bay for $709.00 BIN. Yes that is $98.00 less than what the Mint is currently selling its remaining PF 1/2 oz AGE stock on hand based on the Gold Pricing Grid. This is more than likely less than what this coin was purchased for, by the original owner?

    There were, I think only 9 listings, most were graded and one other OGP was being offered for $950.00. One seller is trying to sell a 2013 combo of 1, 1/4 oz & 1, 1/2 oz in a sealed/unopened shipping box for $2,099.99. Lastly a NGC 2013 PF 69 Ultra Cameo is being offered at $719.00. Remaking coins are graded PF69 and PF70 being offered for$926-$1000 +

    BTW THE 2 coins offered in the $700 range are from Big EBay dealers. My guess is they p/u’d these coins from original owners for close to melt and are just wanting a quick and tidy return on investment?

  8. says

    “The United States Mint announces an invitation stakeholder roundtable for the purpose of exchanging facts and information on the circulation of coinage. The Mint seeks information and advice on an individual basis about how coin can better circulate to reduce the commercial demand for newly minted coinage. The Mint intends to issue invitations to up to 35 participants with the objective of creating a diverse cross-section of stakeholder interests including, but not limited to, those associated with armored car carriers, coin processors, national and regional coin aggregators, financial institutions, and large retailers.

    Date: December 5, 2018.

    Time: 8:00 a.m. to 5:00 p.m.”

  9. John Q. Coinage says

    I can see it now, downtown Los Angeles, 2027… “Hey man can I borrow a 1/4 bitcoin?”

  10. Jerry Diekmann says

    Here’s a suggestion for the Mint to cut down on circulating coinage, and I say this only half jokingly: Eliminate the cent, nickel, and dime (all of them worthless or close to being worthles), and round all cash purchases to the nearest quarter, the only coin in circulation which has any value left.

  11. John Q. Coinage says

    Buzz….funny, my grandnpa always sang the song, “I used to own a railroad, it all was mine, now I have NOTHING…Brother can you spare a dime……nee 1/2 bitcoin..” Went down MAN!! only $6.4k……EACH…a deal I’m getting 200!

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