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About Us The Numismatic Bibliomania Society is a non-profit association devoted to the study and enjoyment of numismatic literature. For more information please see our web site at coinbooks.org Subscriptions Those wishing to become new E-Sylum subscribers can go to the following web page Subscribe You may Unsubscribe Here Membership There is a membership application available on the web site Membership Application To join, print the application and return it with your check to the address printed on the application. Print/Digital membership is $40 to addresses in the U.S., and $60 elsewhere. A digital-only membership is available for $25. For those without web access, write to: Jeff Dickerson, Treasurer Numismatic Bibliomania Society P. O. Box 578, Weatherford, TX 76086 Asylum For Asylum mailing address changes and other membership questions, contact Jeff at this email address: treasurer@coinbooks.org Submissions To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com BUY THE BOOK BEFORE THE COIN Sale Calendar Watch here for updates!

 

Content presented in The E-Sylum is not necessarily researched or independently fact-checked, and views expressed do not necessarily represent those of the Numismatic Bibliomania Society.

WAYNE'S WORDS: THE E-SYLUM DECEMBER 28, 2025

New subscribers this week include: Bob Lusk, courtesy Rich Kelly and Nancy Oliver. Welcome aboard! We now have 6,688 subscribers.

Thank you for reading The E-Sylum. If you enjoy it, please send me the email addresses of friends you think may enjoy it as well and I'll send them a subscription. Contact me at whomren@gmail.com anytime regarding your subscription, or questions, comments or suggestions about our content.

This week we open with a numismatic literature sale, new Banknote Book chapters, a periodical, notes from the Newman Numismatic Portal, and more.

Other topics this week include the importance of a numismatic library, notes from readers, seals, ANA badges & ribbons, Hugh Shull, Paul Hollis, Kevin Lipton, Jesus and Santa Claus on coins and paper money, auction previews, Victoria Cross medals, and Gaza banknote repairs.

To learn more about Napoleon and Karl Goetz medals, the Library of the Birmingham Assay Office, Confederate currency, the National Silver Dollar Roundtable, covenant coins, hacksilber, an early Croesus stater, the El Salvador "Zig-zag" countermark, the Menorah Prutah, the 1793 Chain cent, Carson City Coin Press No. 1, and Justinian's nose job, read on. Have a great week, everyone!

Wayne Homren
Editor, The E-Sylum

 

BRYCE BROWN DICK JOHNSON LIBRARY SALE, PART II

Part II of the Dick Johnson library features literature on United States medals, world coins and medals, and ancient coins and medals.

Fittingly, the sale starts with Johnson's annotated working copy of R.W. Julian's Medals of the United States Mint. Other notable titles include:

• Bizot's 1690 work on Dutch medals
• Venuti's 1739 & 1744 works on coins and medals
• Martin-Leake's 1745 Historical Account of English Money
• Snelling's 1776 Thirty-Three plates of English medals
• Mechel's 1776/1778 work on medals
• Edwards' 1837 Medals Struck in France 1789-1830

• Smith's 1842 Dictionary of Greek & Roman Antiquities
• Humphries' 1850 work on ancient coins and medals
• A nice set of Loubat's Medallic History of the United States
• Bramsen's 1904-1913 works on Napoleon medals
• Hocking's 1906 & 1910 Royal Mint Museum catalogs
• 1914 Catalogue of the Library of the Birmingham Assay Office

• A beautifully bound 1923 Hill on Renaissance medals
• Storrer's 1931 Medicina in Nummis
• Eglit's 1965 Columbiana
• Grove's three volumes on Medals of Mexico
• Kienast's 1967 & 1986 works on Karl Goetz medals
• Forrer's (1970) Biographical Dictionary of Medallists

These are now open for bidding on eBay, under seller name dwj-numismatic-library. All lots close the evening of Wednesday, January 7th, 2026. Link:
https://www.ebay.com/sch/i.html?item=317632104582&rt=nc&_trksid=p4429486.m3561.l170197&_ssn=dwj-numismatic-library

Any questions can be asked through eBay, or by contacting me at dwj.library@gmail.com .

To read the complete lot description, see:
The Fantastic 1804 Dollar, rare first printing, inscribed by Bressett & Newman (https://www.ebay.com/itm/317635368149?itmmeta=01KDH8X29ZPG17NJR4M48A1907&hash=item49f48b14d5:g:OjkAAeSwLENpNcai)

To read earlier E-Sylum articles, see:
FANTASTIC 1804 DOLLAR BOUND PAGE PROOFS CENSUS (https://www.coinbooks.org/v20/esylum_v20n04a12.html)
D. WAYNE JOHNSON (1930-2020) (https://www.coinbooks.org/v24/esylum_v24n01a06.html)
A DICK JOHNSON BIOGRAPHY (https://www.coinbooks.org/v27/esylum_v27n13a20.html)
BRYCE BROWN SALE OF DICK JOHNSON LIBRARY (https://www.coinbooks.org/v28/esylum_v28n49a03.html)

NEW BANKNOTE BOOK CHAPTERS PUBLISHED

To read the complete articles, see:
Bavaria chapter now available (https://banknotenews.com/?p=48342)
Reuss-Gera chapter now available (https://banknotenews.com/?p=48246)
Reuss-Greiz chapter now available (https://banknotenews.com/?p=48249)
Schwarzburg-Rudolstadt chapter now available (https://banknotenews.com/?p=48193)
Schwarzburg-Sondershausen chapter now available (https://banknotenews.com/?p=48197)
South Ossetia chapter now available (https://banknotenews.com/?p=48161)
Waldeck and Pyrmont chapter now available (https://banknotenews.com/?p=48219)

 

PERIODICAL: PAPER MONEY NOV-DEC 2025

Table of Contents

• Christmas Postal Note
  by Bob Laub
• Incredible F.U.N. '26 Exhibit
• National Banks that only Issued Aldrich-Vreeland Currency
  by Peter Huntoon
• New Grant-Sherman Specimen Varieties Discovered
  by R. Melamed & R. Kravitz
• Cervanteras
  by Stephen Russell
• The Georgia Weekly Notes
  by Charles Derby
• Alabama Patton Certificates
  by David Hollander
• Good Faith Finance
  by Peter Longini
• Excelsior Bank Note Company
  by Roland Rollins

PLUS

• From Your President
• Editor Sez
• Uncoupled
• Quartermaster Column
• The Cherry Picker's Corner
• The Obsolete Corner
• Small Notes
• Chump Change
• New Members

SPMC members can log in to the Society website now to read this latest issue:
https://www.spmc.org/journals/paper-money-vol-lxiv-no-6-whole-no-360-novdec-2025

For more information on SPMC, or to join, see:
https://www.spmc.org/

THE IMPORTANCE OF A NUMISMATIC LIBRARY

We truly live in a great time. Thanks to technology and the internet, the world's knowledge from ancient times to now is at our fingertips. Using a small device most of us carry in our pockets, we can access information spanning time and continents. Want to know who won the men's marathon at the 1928 Summer Olympics? A quick Google Search reveals within seconds that it was Boughera El Ouafi, born in Algeria but competing for France. Or, if you need to know what the fastest route is from your house to a coin show in a neighboring state, not only will the internet tell you the route, thanks to GPS, your navigation system will guide you from door to door. In today's digital age, it is sometimes easy to forget that only a few decades ago, you probably needed to go to a library to answer the 1928 Olympics question, and had to map out your route using, gasp, an actual map!

In what I consider one of the most underrated and essential books on American numismatics (and one that I learned a great deal from), An Expert's Guide to Collecting & Investing in Rare Coins, Q. David Bowers devotes an entire chapter to numismatic libraries. While written two decades ago, his words continue to be of importance today:

In coin collecting, there is a mantra (it also applies to paper money and many other collectibles): ‘Buy the book, then the coin (or banknote).' The reason is that, as a beginner, you are more likely to make mistakes that could prove costly in the future. This is also one of the reasons why we always recommend buying from trustworthy sources. But even then, knowledge is power, and much of it can be found in numismatic books. Now, you might argue that whatever knowledge you need can be found on the internet. Still, I will explain why I believe that building a physical library, even of sources and books available online, is an important endeavor, and when taken together, they give tremendous power to the collector.

Books provide something tangible, something you can hold, flip through, and make notes in. While digital media has made it possible to do most of that, I am the first to argue that an actual book often is easier to use than a digital product. In addition, I'm a proponent of physical copies, simply because one day, maybe, the digital files could disappear. Of course, this is unlikely, but we've all experienced the internet going out at our house or workplace, so it is perhaps not as unlikely as it sounds.

It is also important to note that even if a book is available digitally (these days, most books are, and various projects are ongoing to digitally scan older publications, with millions of out-of-copyright books already freely available), there is no guarantee that it has been reproduced in sufficient quality. While modern scanning methods can be near-perfect, they come at a price, both in terms of expense and speed. As such, many books have been scanned with less-than-ideal settings, and small details (for example, in the plates, as well as in the text) are not always reproduced accurately. This causes issues in attribution and pedigree research, two areas in which older printed references continue to be important.

Of course, a lot of information is accessible online, and much research can still be done there (especially when it comes to auction catalogs, with most numismatic companies now having digital archives, which is evolving the format of auction catalogs). Still, numismatic references remain vital and important for serious collectors regardless of the format. I want to urge you not to look at books as a relic of the past, but as a valuable tool that still has great benefits. On the other hand, utilizing digital sources provides more opportunities for the collector, as they provide convenience and a wealth of information easily accessible at little to no cost. Taken together, for beginning collectors and advanced numismatists, today is an exciting time for research and collecting.

To read the complete article, see:
The Importance of a Numismatic Library in Today's Day and Age (https://stacksbowers.com/the-importance-of-a-numismatic-library-in-todays-day-and-age/)

COTHRAN "HUGH" SHULL, JR. (1951-2025)

Cothran "Hugh" Shull Jr., 74, of Lexington passed away peacefully surrounded by loving family on December 19th, 2025. He was born November 25th, 1951 to the late Cothran H. Shull, Sr. and Dorothy Evetta Shull.

Hugh was an Air Force veteran who loved his country. He enjoyed his time in Thailand serving as Chief Base Cashier. After leaving the Air Force, he worked under the GI Bill for Mr. Weem's Coin Shop in Gulfport, Mississippi. His love of coin collecting began at the age of seven. Through the coin shop, he learned about obsolete paper money. This became a 45+ year passion as a collector and dealer.

He was very successful and was held in high esteem by his peers. Hugh was a life member of the American Numismatic Association, the Florida United Numismatists, charter member of the Professional Currency Dealers Association, and the South Carolina Numismatic Association, the last two of which he served many years on the governing board, and was a four-time past president in both.

He was also a member of many other numismatic associations. In 1990, he was awarded the SCNA Most Outstanding Numismatist Award. In 1992, he was presented with a Numismatic Ambassador Award for his many contributions to the hobby. In 2007, he was awarded a Numismatic Literary Guild Award of Extraordinary Merit as well a PCDA Literary Award for his book "A Guide Book of Southern States Currency". In 2018, Hugh was inducted into the Society of Paper Money Collectors Hall of Fame. In 2020, he received an ANA Presidential Award for his dedicated service to "our numismatic family". In 2024, he was inducted into the SCNA Hall of Fame.

Hugh loved the outdoors and enjoyed hunting and bass fishing. Later in life, he became an avid Corvette enthusiast, throwing back to having his first corvette at the age of 18. He was a member of the Capitol City Corvette Club where he served on the board and was a past president.

After about a year and a half, the coin dealer I was working for had to go out of business due to health reasons. During my time there I had met Mr. Graeme M. Ton Jr., of Gulfport, Mississippi, who was one of the leading small-size U.S. note dealers in the country. Mr. Ton not only quickly befriended me, he also gathered me under his wings and started helping mold me into a paper-money dealer. One day he called to put me in touch with another prominent dealer in U.S. obsolete currency, Mr. Don Fisher, of Decatur, Illinois. Don had a deal of about $1,200 worth of CSA notes he wanted to sell. Mr. Ton told him of me and suggested that I buy them. When Don called me I knew right away it was a great deal for the price. Part of it was 50 consecutive 1861 $50 notes (T-8's) in choice grade. They were in an original envelope from the French consulate in New Orleans—with writings and the seal attached, in French! After agreeing to a deal with Don where I could sell the notes and pay for them over time, I was off and running.

It was that group of CSA notes, a small group of CSA bonds, and a few other miscellaneous notes that served as my first sales offering to collectors in the spring of 1976. It was a simple hand-typed, double-spaced one-page listing on front and back, with one-fourth of it filled with hot air!

During this early period in my career, I met Mr. Austin M. Sheheen Jr., of Camden, South Carolina. He is well known as being the "King of S.C. Paper Money" collectors. He wrote the definitive reference on this subject in 1960 and updated it with his superb 2003 edition. This relationship sparked my interest in collecting South Carolina notes and it has been a very rewarding experience over the years. Austin's friendship and guidance has been a cornerstone in helping me during my years of being in the paper money business and hobby.

Another person that became a very good friend early on was Dr. Douglas B. Ball of New York City. Having Doug as a friend and mentor was very beneficial as his expertise on Southern States currency was always available when I needed it. His untimely passing was a great loss to all in our field.

Shortly after moving back home to South Carolina in 1977, I met paper-money dealer Thomas Denly of Boston, Massachusetts, who had started his business just prior to the start of mine. We became quick friends and for 30 years he has always been there to share his vast knowledge of paper money and help in any way that he can. (If only he were just a better fisherman!)

All of those mentioned played significant roles in the foundation and development of my career. Their contributions greatly enhanced my being able to write this book and I have very deep feelings for all of them.

In addition to being one of the most knowledgeable experts in the field of Southern Currency, Hugh was a true gentleman and a friend to many on these boards. His sales catalogs were the de facto value guides for obsolete currency for a number of years, and many of us hold them in our reference libraries to this day.

Hugh was Life Member #6 of the SPMC. He has been co-author, advisor or contributor to many books on obsolete and confederate currency, including Grover Criswell's Confederate Paper Money published in 1996. He wrote A Guide Book of Southern States Currency; History, Rarity and Values in 2007. He was named a Numismatic Ambassador by Krause Publications in 1992.

I will miss spending time with him at shows and hearing his stories of significant notes and collections. Hugh was always open to sharing his knowledge. His passing is a significant loss for our hobby.

Pierre and Joyce Fricke write:

To read the complete article, see:
Hugh Shull has passed (https://www.papermoneyforum.com/post/hugh-shull-has-passed-13761303)

To read the complete obituary, see:
Cothran "Hugh" Shull, Jr. (https://www.barr-price.com/obituary/Cothran-HughShullJr)

To read earlier E-Sylum articles, see:
NEW BOOK: COLLECTING CONFEDERATE PAPER MONEY - FIELD EDITION 2008 (https://www.coinbooks.org/esylum_v11n33a05.html)
BOOK REVIEW: A GUIDE BOOK OF SOUTHERN STATES CURRENCY BY HUGH SHULL (https://www.coinbooks.org/esylum_v12n07a03.html)
MORE ON A GUIDE BOOK OF SOUTHERN STATES CURRENCY BY HUGH SHULL (https://www.coinbooks.org/esylum_v12n08a10.html)
NEW BOOK: COLLECTING CONFEDERATE PAPER MONEY, 2014 ED. (https://www.coinbooks.org/esylum_v16n51a04.html)
HUGH SHULL AND SOUTHERN STATES CURRENCY (https://www.coinbooks.org/v20/esylum_v20n49a22.html)

WASHINGTON'S CHRISTMAS RESIGNATION

Washington's Christmas Resignation

December 23 marked the 242nd anniversary of the resignation of General George Washington, which occurred in 1783 at the Maryland State House in Annapolis, where the Continental Congress was meeting. The well-known artistic recreation of the event, by the painter John Trumbull, now hangs in the U.S. Capitol Rotunda, along with other Trumbull works – indeed, of the eight Rotunda paintings, Trumbull created four. Equally familiar is the conclusion of Washington's resignation speech: "Having now finished the work assigned me, I retire from the great theatre of action, and bidding an affectionate farewell to this august body, under whose orders I have so long acted, I here offer my commission, and take my leave of all the employments of public life."

Trumbull's Washington Resigning imagery can be found in American numismatics, most notably on a 1918 $5,000 Federal Reserve note proof. This example, unique in private hands and ex. Grinnell, is part of a complete archive of 1914-1918 Federal Reserve face and back proofs and most recently appeared in Heritage Auctions' 2020 ANA sale. The Series of 1875 First Charter $1,000 National Bank note similarly depicts the Trumbull painting on the back.

Link to Heritage Auctions offering of the 1914-1918 Federal Reserve notes archive:
https://currency.ha.com/itm/large-size/federal-reserve-notes/series-1914-1918-5-10-20-50-100-500-1000-5000-10-000-federal-reserve-note-face-and-back-proof-archive-gem-uncirculated/a/3578-20063.s?ic4=ListView-ShortDescription-071515#

Link to "Washington Resigning" search results on Newman Portal:
https://nnp.wustl.edu/library/searchwithterms?searchterm=washington%20resigning

VIDEO: NATIONAL SILVER DOLLAR ROUNDTABLE

Hear the story of the National Silver Dollar Roundtable, how it got started, and who was involved. Master of Ceremonies: Randy Campbell.

To watch the complete video, see:
History of National Silver Dollar Roundtable (https://youtu.be/zB2aPGRK-sM)
History of National Silver Dollar Roundtable (https://nnp.wustl.edu/library/book/549020)

RARER THAN A 1909-S V.D.B. LINCOLN CENT

Robert Van Ryzin writes:

Bill Seldon writes:

To read the eBay description (or add this to your record collection), see:
ROCKWAY'S: wayne's mood / my 1909's v.b.d. is rarer than our love RIVER BEND 7" (https://www.ebay.com/itm/306393863354)

Pete adds:

To read the complete article, see:
NOTES FROM E-SYLUM READERS: DECEMBER 21, 2025 : Wayne's Mood (https://www.coinbooks.org/v28/esylum_v28n51a13.html)

NOTES FROM E-SYLUM READERS: DECEMBER 28, 2025

Number Blunder
Pete Smith writes:

Nick Graver writes:

No More Olive Branch

Phil Barber writes:

To read the earlier E-Sylum article, see:
U.S. MINT SEMIQUINCENTENNIAL COIN LAUNCH (https://www.coinbooks.org/v28/esylum_v28n50a23.html)

Why the "Extra" 13775?

Tom DeLorey writes:

Michael Linsey writes:

Jamie Yakes writes:

To read the earlier E-Sylum article, see:
A VIRGINIA TYPE 2 NATIONAL BANK NOTE RARITY (https://www.coinbooks.org/v28/esylum_v28n50a27.html)
NOTES FROM E-SYLUM READERS: DECEMBER 21, 2025 : Why the "Extra" 13775? (https://www.coinbooks.org/v28/esylum_v28n51a13.html)

On Distinguishing Lab-Based and Other Evidence
A. Ikraam writes:

For more information on IA STUDIO, see:
https://iastudio.org/

What is a "real person"?

B.J. writes:

To read the earlier E-Sylum article, see:
THE PENNY'S FUNERAL (https://www.coinbooks.org/v28/esylum_v28n51a08.html)

Covenant coins

Ted writes:

To read the earlier E-Sylum article, see:
NOTES FROM E-SYLUM READERS: NOVEMBER 30, 2025 : Coins Carried But Not to Be Spent (https://www.coinbooks.org/v28/esylum_v28n48a12.html)

Making Heads or Tails of Ancient Coins
In another delayed response (on my part), Ted Puls writes:

Steve writes:

Mike Markowitz writes:

To read the earlier E-Sylum article, see:
SOVEREIGN RARITIES AUCTION XX (https://www.coinbooks.org/v28/esylum_v28n48a20.html)

Hacksilber References Sought
Ted Puls writes:

VOCABULARY TERM: SEAL

Seal. A metallic bas-relief object, much like a medal, the possession and use of which indicates authority. To provide this authentication the engraved relief seal is used to make a wax impression (later impressed on paper) attached to some letter, contract or document. This may have been in imitation of the Oriental custom of stamping (with ink) a document with a personal seal, often a name only in Oriental letters. This practice still continues. (The use of the notary seal performs this practice today.)

While the seal was in relief, the wax impression would be negative, leading to the use of a negative seal (called the matrix seal) to impress positive wax seals. More important papers or documents were impressed with a seal in metal, called a bulla (particularly in warm climates where wax would be impermanent). The bulla was often attached by a cord to the document, and infrequently, on treaties, or on select important documents, the seal would be impressed in molten precious metal. The impression, wax or metal, could be housed in a metal case called a skippet.

Thus seals can be many things: the metal object (often with a handle) for stamping (the matrix seal), the carved or engraved metal seal alone (similar to a medal mounted in a press), the wax or metal impression from any of these, or, ultimately, the illustration of the impressed design. Transporting the official seal of some great authority was an important activity of some functionary. This evolved to something the authority himself could carry and the development of the signet medal, or the more popular signet ring. This could be impressed into wax or soft metal on documents signed away from home or headquarters.

The designs for seals evolved from simple devices to elaborate creations. These included coats of arms, royal trappings, crowns and symbols to royalty on horseback, seated on a throne, holding a mace or similar scenes. Large round seals for heads of state were called the great seal. Other seals were smaller, and some were not round. Like medals and charms, seals for religious organizations were almond shaped or pointed ovals (mandorla or vesica piscis (with pointed ends at both top and bottom).

The engravers of seals were the same engravers of coins and medals (who better to be sealmakers?). Often the most famous coin or medal engraver also prepared seals. Benvenuto Cellini was one of these, so was Benedetto Pistrucci, Thomas Simon, the Wyons, most every well-known engraver created seals. It is rare to find a seal engraver (seal cutter) who did seals only.

With further evolution seals became trademarks or logos and every institution in the modern world has such a device today. More likely, however, the seal is of two dimensions – for illustration – rather than three dimensions for sealing a document.

Cylinder seals. A special seal was in the shape of a cylinder. It could be rolled across a flat surface and provide a long strip of impressed design. As old as flat seals, cylinder seals required the engraving on a curved matrix. An exhibit of cylinder seals is usually shown with a rolled out impression of their full surface. Engravers early learned it was just as easy to carve a design on the curved surface as a flat surface.

Seals in numismatics. Because they are so much like coins and medals, relief seals are considered numismatic. The Royal Mint, London, has made seals for colonial governments, for many public offices and for numerous British institutions. In the United States much of the design for government seals is performed by the Institute of Heraldry.

Seals and seal impressions are cataloged in much the same manner as coins and medals. The same terminology is used in their description for the most part. They have borders, devices, inscriptions, fields, signatures, portraits. Perhaps the only thing they do not have is edge marking (since only one or two sides can be impressed). When an impressed seal has two sides, they are not called obverse and reverse, but obverse and counter-seal (the back of a seal is made with a counter-die).

Seals lack, greatly, the popularity of coins and medals among collectors, but seals do have an extensive literature. Librarians identify all the above as "seals (numismatic)" as in a library catalog, to differentiate from other seals (particularly the marine animal, container closing device or the institutional logo).

To read the complete entry on the Newman Numismatic Portal, see:
Seal (https://nnp.wustl.edu/library/dictionarydetail/516719)

ANA CONVENTION BADGES AND RIBBONS

The American Numismatic Association (ANA) has "Association" as part of the name. Any object produced for the ANA could be considered an "Association Item" and many people, including me, collect them. This is the second in a series of articles about association items that relate to American numismatists. The first image shows ribbons and convention badges for the American Numismatic Association that include the name of an ANA president. There have been articles in The Numismatist about convention badges, but I am not aware of articles about convention ribbons.

If I did not have these, I would not know that at one time the ANA had ribbons with an individual name printed on the ribbon. If I wanted to catalog these, I wouldn't know where to go to get the information.

Convention badges are not numismatic items. They are collected because of their association with the club. While I have a large collection of ANA material, the items that can be associated with an ANA president have a double value.

Loyd B. Gettys was born in Lincoln, Nebraska, and worked in Omaha in the insurance industry. He served as ANA president during 1947-1949. One of these ribbons is older than I am.

George D. Hattie was an attorney, born in Detroit and lived in Grosse Pointe, Michigan. He served as ANA President during 1979-1981. The badge is from 1961 when Dodson was president.

Oscar H. Dodson was born in Houston, Texas, and graduated from the U. S. Naval Academy. He served on the carrier Hornet in World War II and retired as Rear Admiral in 1957. He served as ANA President during 1957-1961. His badge is from 1980 when Hattie was president.

I have a couple of boxes of stuff accumulated from Central States Numismatic Society conventions that I attended. I have two framed Riker Cases with 36 badges including many conventions I did not attend. On two occasions, I was president of the host club.

Several of these badges cross over into the area of association items when the badges are named.

John Gabbaron was born in El Paso, Texas. He served as Sergeant-at-Arms for the ANA in 1969 to 1990. He received the ANA Farran Zerbe Memorial Award in 1979 and a Glenn Smedley Award in 1993. That sequence was unusual. The badge is from 1975.

Glenn Smedley was born in Illinois. He was First Vice President of the ANA in 1957-59 but did not serve as President. He received the ANA Farran Zerbe Memorial Award in 1960 and was inducted into the ANA Hall of Fame in 1982. The badge is from 1978.

George D. Hattie was president of the Central States Numismatic Society in 1970- 1972. The badge is from 1980. I have six other Hattie badges from 1981 to 1988. His ANA and CSNS badges came from two different sources.

Donald Young was born in Mercer, Colorado. He managed production of TAMS medals and may have had the largest collection of ANA Medals. He served on the Central States Board 2008 to 2014. The badge is from 1991.

I have another Smedley named badge from the 1961 CSNS Convention. This was hosted by my local club, the Northwest Coin Club. Thus, it is associated with my local club, with the CSNS and with Smedley as a numismatist. These are all areas I collect. I may have trouble finding things that could be in any of several boxes.

ARTICLE PROFILES PAUL HOLLIS

At every major life event, Paul Hollis carries a coin his grandmother wore around her neck while she was alive.

It's not worth much, said the 53-year-old coin expert, who has handled million-dollar sales of rare coins, but it's his favorite.

The 1925 U.S. Indian Head Quarter Eagle, minted in Denver with a face value of $2.50, is worth about $350 today. The coin was in Hollis' pocket when he graduated LSU in 1994; when he got married in 1996; when his two children were born in 2003 and 2013; when he was elected to the Legislature in 2011; and then in 2023 when he won a position on the Board of Elementary & Secondary Education.

Then he held the coin on Dec. 18, when the U.S. Senate confirmed him as the 41st director of the U.S. Mint, the first from Louisiana.

Hollis, of Mandeville, also will be the first mint director who makes his living buying and selling coins. He wrote a book, published in 2012. "American Numismatist" recounts the history of coins in context with what was happening in the United States at the time of their production.

After resigning from BESE, he will assume federal office in January.

Hollis says this is his dream job. When other young boys saw themselves playing center field in Major League Baseball, Hollis focused on becoming director of the mint.

"I've known what I wanted to do since I was just a little kid," Hollis said.

His interest in coins began at the age of 7 when his grandmother, Betty Beasley of Monroe, gave him a Peace Dollar, engraved with Lady Liberty to remember World War I.

"I thought it was the coolest thing," Hollis recalled. "It started my coin collecting at a very early age."

Big issues at the Mint
Hollis, who will be one of the highest-ranking Louisiana natives in the Trump administration, will be in charge of coins and the nation's gold reserves at Fort Knox, Kentucky. Facilities in Philadelphia, Denver, San Francisco and West Point, New York, press nickels, dimes, quarters and other coins used as currency — but not pennies.

The government minted its last penny on Nov. 12.

"That decision wasn't made on my watch, but I wasn't surprised by it," Hollis said. "I understand it, and I think it's the right decision."

What will be on his watch is the growing embroglio over whether to engrave Trump's likeness on a coin.

The Trump administration in October released draft images of the president on a $1 coin.

The idea ran into headwinds from political opponents, but more so from a complex web of laws and traditions that forbid putting living presidents on currency.

More controversy arose when Trump discarded plans for the commemorative coins to include images of the abolition of slavery and civil rights. One would've shown Ruby Bridges as a 6-year-old girl when she integrated William Frantz Elementary School in New Orleans on Nov. 14, 1960.

Hollis wouldn't comment on these controversies, saying he is not yet in office and hasn't been briefed. But he is looking forward to visiting people around the country and telling them about the 2026 commemorative coins and their link to American history.

A long love of coins
A lifelong Republican, Hollis is the son of one of the state's first elected Republicans in modern times, former state Sen. Ken Hollis, of Metairie. He said his late father's 28 years in public service led him to a similar commitment.

Paul Hollis was born and raised in Metairie, where he graduated in 1990 from Grace King High School.

It was while part of the Louisiana Association of Student Councils that he met Mike Johnson, a student from Captain Shreve High School in Shreveport.

Hollis and Johnson renewed their friendship while both served in the Louisiana House of Representatives. Johnson, R-Benton, went on to become speaker of the U.S. House.

Hollis said he had shared with Johnson his love of coins over the years. After Trump was elected to a second term in November 2024, Hollis mentioned to Johnson, almost in passing, his lifelong interest in being director.

As director, he plans to visit with 1,700 or so employees at operating mints and Fort Knox. He'll also attend numismatic shows to discuss coins and their history as well as the commemorative coins being minted for the nation's 250th birthday.

"I've known what I've wanted to do since I was a little kid. And everything has just been me following the cues," Hollis said. "I'm looking forward to having my office in Washington and hanging a photograph of my dad with (President Ronald) Reagan and a photograph of my grandma when she was young."

He plans to carry his favorite coin.

To read the complete article, see:
This Louisiana native has always loved coins. Now he'll run the U.S. Mint. (https://www.nola.com/news/politics/national_politics/mandevilles-paul-hollis-first-numismatist-to-direct-us-mint/article_af31b424-4b18-4937-bac2-87e90025e6f1.html)

To read the earlier E-Sylum article, see:
PAUL HOLLIS NOMINATED FOR U.S. MINT DIRECTOR (https://www.coinbooks.org/v28/esylum_v28n29a18.html)
MINT'S DIRECTOR NOMINEE PAUL HOLLIS TESTIFIES (https://www.coinbooks.org/v28/esylum_v28n44a14.html)
PAUL HOLLIS CONFIRMED AS MINT DIRECTOR (https://www.coinbooks.org/v28/esylum_v28n51a11.html)

 

HERITAGE: NYINC WORLD AND ANCIENT COINS

A magnificent Lydian "Missing Link" Early Croesus Stater from the Cambridge Collection is among the extraordinary treasures that will find new homes when they are sold Jan. 12 in Heritage's NYINC World & Ancient Coins Platinum Session and Signature® Auction.

"The Cambridge Collection represents an opportunity for advanced collectors to pursue a remarkable array of artistically and numismatically significant early Greek coins," says Kyle Johnson, Managing Director of World and Ancient Coins at Heritage Auctions. "Most importantly, this session offers every denomination of gold and silver coinage from Croesus's lifetime and the light standard coins that were produced in his design after his death, with each selection a veritable highlight to any serious cabinet."

The accession of Croesus to the Lydian throne circa 561 BC ushered in a revolution in the world economy. The most important reform attributed to Croesus was the introduction of a bimetallic coinage in gold and silver, first augmenting and then replacing previous electrum issues. The creation of separate gold and silver denominations ranging from a full stater down to 1/24th of a stater was a visionary move that had a major impact on the ancient economy. Croesus gold staters, which are justifiably billed as the "world's first coinage," were initially issued on a "heavy" standard of about 10.7 grams, the same weight as the new silver stater denomination (although, since silver is a lighter metal, the gold issues were smaller in size and far more valuable). In addition to offering all these standard early gold and silver coinage denominations, the Cambridge Collection touts a Prototype Lydian Croesus AV stater NGC Choice MS 5/5 - 5/5 that mimics the earlier Lydian electrum coinage, with a more dynamic and animated posture of the lion and bull when compared to the stiffer and more detailed style of the regular issue.

Eternal Collection, Part III

The NYINC auction also features a stellar trove of 124 lots from the Eternal Collection, Part III, the concluding chapter in a story that already has enjoyed resounding success. These lots include an exceptional array of trophy coins, with an emphasis on top British, Central European and European Colonial issues.

Part I of the collection included numerous record results among its 157 lots in Heritage's NYINC Platinum Session World & Ancient Coins Signature® Auction in January 2025, while Part II included 120 standout lots in Heritage's ANA World & Ancient Coins Platinum Session and Signature® Auction in August 2025.

Among the top attractions in Part III is a Danish Asiatic Company. Christian VII Piastre 1771-Dated (1774) MS66 NGC referred to as the "Greenland Dollar." It is an incredibly rare, almost mythic Crown-trade issue struck by the Danish Asiatic Company in an effort to establish greater economic influence in Asia, where the preferred trade coinage at the time was milled Spanish silver, most notably the 8 Reales which featured the "Dos Mundos" globes and sometimes is referred to as the "Pillar Dollar." Capitalizing on the success of these Spanish designs, this Piastre clearly imitates the "Pillar Dollar" motifs, one of the reasons this Danish production earned its "Greenland Dollar" moniker. The Greenland moniker comes from the representation of the three island territories of the Danish Empire amid waves below the dual globes: "ISLAND" for Iceland, "FERÖ" for the Faroe Islands and "GRÖNLAN" for Greenland. This type was struck in three separate years: 1771, 1774 and 1777. The original issues from 1771 are practically unobtainable with a current survival estimate of only five. The coin offered in this auction is a 1774 production of the 1771 dated issue — rare, but not quite as rare as the originals, from a current survival pool of approximately 20 pieces. This auction marks just the second time the 1771 emission has been offered at Heritage.

Also from the Eternal Collection comes a stunning Polish gold Specimen Pattern 5 Zlotych 1925-(w) SP63 PCGS, a unique Pattern that once was a part of the King Farouk Collection. This treasure from the Warsaw mint is considered one of the crown jewels of 20th-century Polish numismatics. The standard issue of this type, struck in silver, is rare and widely desirable in its own right, but the few gold Patterns known to have been struck are at a different level in terms of numismatic significance. Parchimowicz has documented no more than four "Constitution" 5 Zlotych struck in gold, comprised of three different varieties: an 81-pearl border, a 100-pearl border and two 100-pearl border pieces with raised initials "SW," "WG" and the date "3/V." The 81-pearl gold specimen, presumed unique in this particular variety, is the coin offered in this auction, and is thought to be the only one of the four gold "Constitution" examples ever offered at auction, leading many to believe it is the only one in private hands.

The collection also includes a selection of eight Bird of Paradise coins from German New Guinea, a group that includes a gold Proof 20 Mark 1895-A PR67 Ultra Cameo NGC from a mintage of 1,500 for both Proof and Business strikes. It is the largest denomination struck for German New Guinea and one of only two gold issues produced. This is the King of the famed Bird of Paradise series from 1894-95, universally recognized among the most attractive numismatic designs ever created. This coin is the finest Proof specimen ever certified, and the only piece to be graded at the Superb Gem Proof tier in combination with an Ultra Cameo designation, the closest being a PR67 in Cameo also at NGC and the Louis E. Eliasberg, Sr specimen residing in a PR66 Deep Cameo PCGS holder.

Peh Family Collection, Part IV

Another massively significant collection that has enjoyed enormous success at Heritage is the Peh Family Collection, Part IV — an assemblage that reflects the vision and passion of its principal collector, whose fascination with history was constant, inspiring him to pursue numismatics as a means of connecting with the pass.

Among the top offerings in the collection is a breathtaking Victoria gold Proof "Una and the Lion" 5 Pounds 1839 PR63 Ultra Cameo NGC, an iconic treasure in rare Choice condition. Designed by 19th-century Royal Mint Chief Engraver William Wyon, the iconic Una and the Lion is a highly coveted and elusive issue, the awe-inspiring execution of this design offering an unrivaled example of numismatic mastery by Wyon. This particular example boasts conditional scarcity, as Choice examples are difficult to come by even for this more common variety of the type, and the Ultra Cameo designation is highly covetable among collectors.

Also from the Peh Family Collection comes a Charles I gold Triple Unite 1643 MS63 NGC that is the only example of this variety certified by NGC and one of the top five highest-graded across all varieties and dates for a Charles I Triple Unite. As the largest English hammered denomination ever struck, valued at 60 Shillings, this honey-hued specimen is in a remarkable state of preservation, with bold devices cloaked in glistening luster.

Another ancient treasure in the auction comes from the Peh Family Collection: a SICILY. Syracuse. Dionysius I (405-370 BC). AR decadrachm (34mm, 43.12 gm, 2h). NGC Choice XF? 5/5 - 5/5, Fine Style that is widely considered to be the most beautiful coins ever struck. The immense silver decadrachms of Syracuse from the later fifth century BC represent the full flowering of classical Greek sculptural art. The foremost Greek city in Sicily, Syracuse had produced beautiful coins for nearly a century when engravers, led by Kimon and Euainetos, began signing their coin dies.

Naim Margulis Collection of British Coinage

Comprising 202 lots of superior specimens, the Naim Margulis Collection of British Coinage is crowned by a George IV gold Proof 5 Pounds 1826 PR64 Cameo NGC designed by Wyon that was the ultimate chase coin from George IV's decade-long reign and among the most desirable gold pieces in all of British numismatics.

The collections are extraordinary, but to suggest all of the auction's top lots are included in them would be inaccurate.

Among the top individual lots is the famed Zeeland Provincial gold 30 Gulden 1683 MS63 NGC. The coinage of Zeeland in the beginning of the 1680s, until the middle of the following decade, shows an unusual amount and variety of experimentation. The legendary 30 Gulden pieces closely resemble the silver 10 Schelling issue of the same period, which was struck en masse for circulation, but the denomination is deliberately changed into quite possibly the highest denomination of any coin in the Provincial monetary system, indicating that not only were they not just off-metal strikes, but were rather intended to have a place within circulation. Only a handful of 30 Guldens are known to have survived, with the example offered in this auction unquestionably ranking amongst the finest.

Also in play is an exeedingly rare Catherine II Rouble 1775 MM?-CA UNC Details (Obverse Scratched) NGC. This Moscow date is among the rarest circulation Rouble produced under Catherine the Great. The very few that have sold at auction over the past few years have paled in comparison to the offered piece.

Collectors of Canadian coins will want to check out a George V "Dollar" Electrotype Exhibition Token 1911 MS63 PCGS that is an example of perhaps the most coveted Canadian emission: the George V 1911 Canada Dollar. Only three pattern specimens of the 1911 Dollar are known to numismatists, each now residing in the collection of the Bank of Canada Museum.

The Mirabilis Collection in our Platinum Session includes 37 lots of magnificent ancient coins, including:

A Manlia Scantilla (AD 193). AV aureus (19mm, 6.82 gm, 5h). NGC Choice AU 5/5 - 4/5 that is the finest certified specimens extant of a Mania Scantilla Aureus — a beautiful empress that is challenging to find in gold.

The finest certified Aelius Caesar (AD 136-138). AV aureus (19mm, 7.41 gm, 5h). NGC Choice MS? 5/5 - 5/5, Fine Style.

A stellar Commodus, as Augustus (AD 177-192). AE bimetallic medallion (40mm, 56.90 gm, 11h). NGC Choice AU 5/5 - 4/5, Fine Style.

Cryptocurrency

Part of the overall event will be a separate Jan. 19 session, the NYINC Physical Cryptocurrency Featuring the Otoh Collection, Part VI Signature® Auction that includes 74 lots.

Among the highlights: a BTCC titanium Loaded (Unredeemed) 0.5 Bitcoin (BTC) 2016 MS69 PCGS that is among the event's 30 lots from The Otoh Collection of Physical Cryptocurrency, Part VI. This lot, which is struck from pure spacecraft-grade titanium, is from a total issue of just 640, and is a superb example of this remarkable titanium issue from BTCC. The first-in-series serial number further enhances the collectability and significance.

Images and information about all lots in the auction can be found at HA.com/3129, HA.com/3130 and HA.com/3133.

STACK'S BOWERS: NYINC ANCIENT AND WORLD COINS

SICILY. Leontini. AR Tetradrachm (17.30 gms), ca. 425-415 B.C. NGC AU, Strike: 4/5 Surface: 4/5. Fine Style. HGC-2, 671; SNG ANS-256-7. Obverse: Laureate head of Apollo left; Reverse: Head of roaring lion left; leaf to right, three barley grains around. Pleasingly toned and with some alluring brilliance peeking out from below, this well centered and well struck example no doubt stands as a fine style representative of the emission.

Estimate: $4,000 - $6,000.

To read the complete item description, see:
SICILY. Leontini. AR Tetradrachm (17.30 gms), ca. 425-415 B.C. NGC AU, Strike: 4/5 Surface: 4/5. Fine Style. (https://stacksbowers.us19.list-manage.com/track/click?u=de7e191dae0e45977ac89103d&id=5f377cf333&e=2060ac6706)

THRACE. Abdera. AR Stater (12.83 gms), Python, magistrate, ca. 375-345 B.C. NGC VF, Strike: 5/5 Surface: 3/5. Scuff. HGC-3.2, 1194. Obverse: Griffin springing left off base; Reverse: Tripod surmounted by wreath; within incuse square. A RARE type that does not feature with any frequency at public auction, this impressive stater displays a bold strike, with sharp details and a touch of brilliance yet retained. As one of the more elusive issues from classical Greece, we would expect no shortage of excited bidders seeking out this Stater.

Estimate: $4,000 - $6,000.

Provenance: From the Peter Jones M.D. Collection (Greek Coin Art pg. 87; #1345). Ex: George Gund III Collection (Stacks 1/2007) Lot #4183.

To read the complete item description, see:
THRACE. Abdera. AR Stater (12.83 gms), Python, magistrate, ca. 375-345 B.C. NGC VF, Strike: 5/5 Surface: 3/5. Scuff. (https://stacksbowers.us19.list-manage.com/track/click?u=de7e191dae0e45977ac89103d&id=5b6b1c7be7&e=2060ac6706)

Stunning Superb-Gem 8 Reales The Finest Spanish 8 Reales Graded by Either NGC or PCGS SPAIN. 8 Reales, 1711-M J. Madrid Mint. Philip V. NGC MS-67. KM-291; Cal-1338; Cay-9231. Defying belief with its stupefying condition, not only the finest of the date certified by NGC, but the finest of ANY Spanish 8 Reales NGC or PCGS has seen. Words really cannot began to encompass the incorporeal beauty that inheres to this example, with a needle-sharp strike that gives all features of the surface a clarity that is normally reserved for modern issues. The total lack of marks is jarring, as even the best 8 Reales show some chatter, leaving this example as an essentially unique survivor that was likely put away immediately after striking. Given the magnetic draw of the piece, this example expects to draw a plethora of excited bids when it crosses the auction block.

Estimate: $40,000 - $50,000.

To read the complete item description, see:
Stunning Superb-Gem 8 Reales (https://stacksbowers.us19.list-manage.com/track/click?u=de7e191dae0e45977ac89103d&id=19bac30f4c&e=2060ac6706)

Impressive Three Nation Crown GUATEMALA. Guatemala - El Salvador - Peru. 8 Reales, 1839. PCGS MS-62; Countermark: UNC Details. KM-111.5. Type 2 Guatemala sun over mountains countermark and Type 2 El Salvador "Zig-zag" countermark on 1839-LIMA M B 8 Reales. In intriguing specimen bearing not one, but two distinctive countermarks, both Guatemalan and Salvadoran, highlighting rather extensive trading within Latin America, all while not displaying any signs of circulation or drawdown. The countermarks are bold and deep, and the surfaces of the host are sparkling with luster, with a few spots of deeper tone. A piece with a unique story that demands much attention at auction.

Estimate: $7,000 - $10,000.

To read the complete item description, see:
Impressive Three Nation Crown (https://stacksbowers.us19.list-manage.com/track/click?u=de7e191dae0e45977ac89103d&id=ecee6a6a16&e=2060ac6706)

Impressive Large Size Colonial Gold Ingot SPANISH COLONIAL. Gold Oblong Finger Bar, ND (ca. 1622). Philip IV. EXTREMELY FINE. Weight: 1,078 gms. (34.66 oz); Diameter: 245.31 x 28.37 x 12.17 mm.; AGW: 32.13 oz. Rectangular ingot with seven royal tax stamps spaced across face, five purity stamps "XXII" and "o" (representing 22-1/4 Karats), foundry stamp "SARGOSA/PECARTA" to right; Reverse: "A85-27" engraved to left. This wholesome and original looking large-size ingot displays a light attractive golden tone with faint sunset hued patina in the protected areas. Evidence of sea coral is noticed to the right on all sides as well as in several of the crevasses. Close inspection reveals some light scratches, "IIXX", near the cut end. Based on the orientation of the ingot, the scratched numerals are probably inverted and meant to represent the purity of "XXII". Altogether, an impressive relic that represents the awesome creation of wealth that was being mined in Spain's colonial territories for the intended eventual benefit of the motherland.

Estimate: $150,000 - $200,000.

To read the complete item description, see:
Impressive Large Size Colonial Gold Ingot (https://stacksbowers.us19.list-manage.com/track/click?u=de7e191dae0e45977ac89103d&id=9aafca5061&e=2060ac6706)

The Endlessly Sought "Una and the Lion" 5 Pounds GREAT BRITAIN. Gold "Una and the Lion" 5 Pounds Pattern, 1839. London Mint. Victoria. PCGS PROOF-62+ Deep Cameo. S-3851; Fr-386; KM-742; WR-278 (R4). By William Wyon. Wilson and Rasmussen lists a total of eight die varieties for this type, with the present example identified by its "DIRIGE..." reverse legend, small lettered edge, and six full scrolls on the obverse headband. Masterfully produced in medallic high relief, this hefty gold five sovereign issue is often found with thick frost over the devices, rendering the portrait and the figures of Victoria and the Lion in stark, striking detail that accentuates the beauty of Wyon's artistry and serves as a testament to the superior capabilities of the Royal Mint for the period. The present example is no exception, the matte-like texture of the raised portions of the design granting eye-catching contrast to the watery and deeply mirrored yellow-golden fields beneath. A near-Choice representative of one of the most iconic issues in numismatic history.

William Wyon (1795-1851) led a long and illustrious career as an engraver of British medals and coinage, hailing from a family of diesinkers in Birmingham and serving as Chief Engraver of the Royal Mint from 1828 until his death in 1851. He was a prolific and highly regarded artist in his lifetime, the creator of such famed pieces as the 1817 "Three Graces" and "Incorrupta" pattern Crowns, the 1847 "Gothic" Crown, and the 1831 coronation medal for William IV, among many others. His work can primarily be classified under Neoclassicism, a popular art movement of the 18th and 19th centuries that drew heavily upon works of the Renaissance and classical antiquity, featuring themes of grandeur in conjunction with a simplicity of style. Wyon's most renowned work may be his 1839 "Una and the Lion" 5 Pounds issue, produced for the delayed coronation of Queen Victoria, who ascended to the throne in 1837. The design, in characteristic Neoclassical fashion, draws direct inspiration from Edmund Spenser's Renaissance-era epic poem, "The Faerie Queen." Book I of the epic follows the adventures of the noble Redcrosse Knight and his lady, Una. In one scene, Una is charged upon by a wild lion after becoming separated from her companion, but in the face of Una's beauty and purity, the lion is instantly tamed, and thereafter accompanies her as a faithful protector.

To read the complete item description, see:
The Endlessly Sought "Una and the Lion" 5 Pounds (https://stacksbowers.us19.list-manage.com/track/click?u=de7e191dae0e45977ac89103d&id=5c43a59528&e=2060ac6706)

Stunning Jubilee 5 Pounds With Incredible Cameo Contrast The Single Finest Example Graded by NGC GREAT BRITAIN. 5 Pounds, 1887. London Mint. Victoria. NGC PROOF-66+ Ultra Cameo. S-3864; Fr-390A; KM-769; W&R-285. Mintage: 797. Variety with initials "B.P." on reverse. Surmounting the NGC Census, with no peers on the same plane of beauty, this simply magnificent Quintuple Sovereign can lay claim to being on of the highest peaks of the entire British Milled series, much less of the 19th Century. The 1887 Jubilee issues are RARE in proof no matter the grade, though to find one in such status so close to perfection truly embodies the height of numismatic beauty and allure. The fields are watery with all the depth of field of a mirror, with snowy frost capped devices. The cameo contrast is exquisite, and it is nearly impossible to find anything negative worth a mention on this example. As stunning as stunning comes is perhaps the best bit of brevity that can accurately describe this example.

Estimate: $125,000 - $175,000.

To read the complete item description, see:
Stunning Jubilee 5 Pounds With Incredible Cameo Contrast (https://stacksbowers.us19.list-manage.com/track/click?u=de7e191dae0e45977ac89103d&id=fb50214271&e=2060ac6706)

Beautifully Preserved Uncirculated Guldengroschen GERMANY. Saxony. Guldengroschen, ND (1512). Hall Mint. Friedrich III The Wise. PCGS MS-63. Dav-9699; Schnee-37. The single finest certified on either the NGC or PCGS population reports, though at one point NGC also had a single example in the same grade. Wholly original looking and very attractive, this lovely early Guldengroschen boasts a bold strike in high-relief with somewhat subdued luster in the fields with plenty remaining flash the in the legends and amongst the devices. Seldom encountered in this elite state of preservation and as such should be considered VERY RARE and highly desirable in such elevated condition.

Estimate: $10,000 - $20,000.

Provenance: From the John P. Burnham Collection.

To read the complete item description, see:
Beautifully Preserved Uncirculated Guldengroschen (https://stacksbowers.us19.list-manage.com/track/click?u=de7e191dae0e45977ac89103d&id=0ecf1d7429&e=2060ac6706)

Stunning Naples & Sicily 30 Ducati with both a "Star" and "Plus" Grade ITALY. Naples & Sicily (as the Two Sicilies). 30 Ducati, 1852. Naples Mint. Ferdinand II. NGC MS-62+?. Fr-866; KM-368. A splendid example bearing both a "star" and "plus" modifier, this alluring and hulking gold issue is sharply detailed, with bounding luster that emanates from the surfaces. Presenting better than even the enhanced grade might suggest, this handsome example certainly does not lack for appeal. A specimen that will doubtlessly command much attention when offered.

Estimate: $10,000 - $15,000.

To read the complete item description, see:
Stunning Naples & Sicily 30 Ducati with both a "Star" and "Plus" Grade (https://stacksbowers.us19.list-manage.com/track/click?u=de7e191dae0e45977ac89103d&id=57227565d4&e=2060ac6706)

Sensational Zog I 100 Frangi Ari in Gem Quality ALBANIA. 100 Franga Ari, 1938-R. Rome Mint. Zog I. PCGS MS-65. Fr-13; KM-23. Mintage: 500. Commemorating the marriage of Zog and Geraldine. A most impressive and desirable hefty 20th Century gold issue, delivering rich lustrous beauty with a Gem allure of sloshing luster that pours forth from the surfaces. A lovely piece that will doubtlessly act as a capstone example to any collection of gold RARITES.

Estimate: $7,000 - $10,000.

To read the complete item description, see:
Sensational Zog I 100 Frangi Ari in Gem Quality (https://stacksbowers.us19.list-manage.com/track/click?u=de7e191dae0e45977ac89103d&id=b64162394c&e=2060ac6706)

Original Striking of the Legendary Ferdinand III City View Issue AUSTRIA. Holy Roman Empire. 2 Ducats, 1642. Hall Mint. Ferdinand III. PCGS AU-58. Fr-247; KM-899. Obverse: Armored figure of Archduke Ferdinand III on horseback riding to right with staff in hand, city view of Innsbruck behind, date below; Reverse: Saint Leopold standing with flag of Old Austria, church in hand, all within circle of fourteen coats of arms. An iconic RARITY as an original striking, the first example we can recall offering as such and far more frequently encountered as a modern restrike. An enviable survivor with flashy problem-free surfaces, plenty of luster abounding in the fields, and little to no evident wear. All in all, a premium piece that would be difficult to improve upon given the infrequency of its appearances in public auctions.

Estimate: $15,000 - $20,000.

To read the complete item description, see:
Original Striking of the Legendary Ferdinand III City View Issue (https://stacksbowers.us19.list-manage.com/track/click?u=de7e191dae0e45977ac89103d&id=41681b1dc3&e=2060ac6706)

Impressive Specimen Victorian Half Dollar CANADA. 50 Cents, 1870-LCW. London Mint. Victoria. PCGS SPECIMEN-63. KM-6.Variety with L.C.W. on neck truncation. A beautiful and EXTREMELY RARE ISSUE in Specimen quality, offering luminous fields and frosty devices providing a crisp nearly-Cameo distinction. Largely unblighted by marking, a small touch of friction likely accounts for the grade, though this minor notation does little to dampen the overall appeal of the representative. Distinguished in nearly every way, this lovely minor is certain to achieve dazzling heights when offered at auction.

Estimate: $10,000 - $15,000.

To read the complete item description, see:
Impressive Specimen Victorian Half Dollar (https://stacksbowers.us19.list-manage.com/track/click?u=de7e191dae0e45977ac89103d&id=be1fc7960f&e=2060ac6706)

The Menorah Prutah -- The First Coin with Purely Jewish Iconography JUDAEA. Mattathias Antigonus, 40-37 B.C.E. AE Prutah (1.45 gms), Jerusalem Mint. NGC EF?, Strike: 3/5 Surface: 3/5. Meshorer-41; Hendin-6203. Obverse: Showbread table; Reverse: Menorah. Struck upon a fairly irregular flan--a typical aspect of the type--this EXCEPTIONALLY RARE and extremely important example represents the pinnacle within Jewish numismatics, as it stands as the first coin to feature definitive Jewish iconography in the form of the showbread table and the menorah--both synonymous with the Temple of Jerusalem. Though the design upon each side is incomplete, as is always the case, given that the flans used were simply too small to contain all design elements, the parts that are present upon this monumental example are rather bold and clear, with parts of the surrounding legends (in Hebrew, around the showbread table, and in Greek, around the menorah) very evident as well. The surfaces are mostly deep green in hue, with some lighter dusty highlights acting as a delightful accent. A tremendously pivotal and consequential offering for an ever-desirable type that has been off the market for nearly three-and-a-half decades.

Estimate: $30,000 - $50,000.

Provenance: From the Rabbi Victor H. Weissberg and Tamar Weissberg Collection. Ex: Numismatic Fine Arts XXVI (8/1991) Lot # 135 @ $12,500 hammer.

To read the complete item description, see:
The Menorah Prutah -- The First Coin with Purely Jewish Iconography (https://stacksbowers.us19.list-manage.com/track/click?u=de7e191dae0e45977ac89103d&id=b452c6fa68&e=2060ac6706)

Exceptional Pedigreed Year 1 Sela JUDAEA. Bar Kochba Revolt, 132-135 C.E. AR Sela (Tetradrachm) (13.96 gms), Jerusalem Mint, Year 1 (132/3 C.E.). NGC Ch EF, Strike: 5/5 Surface: 3/5. Die Shift. Mildenberg-1.4 (O1/R1; this coin cited); Meshorer-218b; Hendin-6402. Obverse: Facade of the Temple of Jerusalem containing showbread table (Ark of the Covenant); Reverse: Lulav; etrog to left. A very well centered example, this EXTREMELY RARE specimen is highly prized and sought after. Though a minor die shift is observed, the coin offers a pleasing overall strike with some darker hints around the Temple's interior, all while some glints of brilliance emerge from the fields. An exceptional representative from the beginning of the series, and one that yields a stellar pedigree as well.

Estimate: $30,000 - $50,000.

Provenance: From the Rabbi Victor H. Weissberg and Tamar Weissberg Collection. Ex: New York Sale LI (1/2021) Lot # 37.

Ex: Josef Samel Collection (Kunker 334, 3/2020) Lot # 2374.

Ex: El Fawar 1978 Hoard.

To read the complete item description, see:
Exceptional Pedigreed Year 1 Sela (https://stacksbowers.us19.list-manage.com/track/click?u=de7e191dae0e45977ac89103d&id=e2f8b77678&e=2060ac6706)

 

KUENKER AUCTION SALE 437, PART TWO

German States

The geographical range of the issues from the German States offered at Künker's Berlin Auction Sale covers everything from Anhalt to Würzburg. Fans of multiple gold coins in perfect condition are spoilt for choice. How about a Hamburg bankportugalöser with a detailed city view? Or a 10-fold ducat from Nuremberg that was intended to be a diplomatic gift? Or rather a piece from Regensburg? Not to forget, there is a magnificent example of one of the first portugalösers minted in Germany – a coin commissioned by Johann Adolf von Holstein-Gottorp. Lovers of yield and mining coins can look forward to an extremely rare 1855 ducat made of gold from Goldkronach. And those looking for Brunswick lösers will find plenty of opportunities.

Be it Saxon coins and medals, "lamb ducats" from Nuremberg, rare talers or ducats – no matter what field of the German States you are interested in, you are sure to find the piece of your dreams!

World Issues

As customers are used to from Künker, the chapter with world issues is rather extensive and features great rarities as well as pieces of great historical importance. A small focus is on issues minted by countries bordering the Baltic Sea such as Denmark, Sweden, Poland and Russia. Numerous numismatic treasures were created during the conflicts over control of the prime areas of this trading region.

However, the regions of Flanders and the Netherlands that were already industrialized in the Middle Ages, as well as France and England or rather Great Britain, are also well represented. We present some particularly interesting coins and medals, which offer only a small selection of the wide variety of rarities that await you in auction 437.

Orders and Decorations

Last but not least, Künker's auction 437 in Berlin ends with 14 exquisite objects and object groups from the phaleristic field. The highlight of this small but sweet section is a collar of the highest Russian order, the Imperial Order of Saint Andrew the Apostle the First-Called. The hallmark tells us that the piece was created in 1864 by the court supplier Keibel.

We do not know who used to wear the order, but a quick glance at the 1864 list of recipients gives us an idea of the social class of its wearer. Only 13 people were honored with it that year, including not only Russian celebrities but also the Prussian princes Alexander and George, Archduke Stephen of Austria, Grand Duke Karl August of Saxe-Weimar, Prince August Ernst of Hanover, Crown Prince Wilhelm Christian of Denmark and Duke Napoleon August Lannes de Montebello.

To order a catalog contact Künker, Nobbenburger Straße 4a, 49076 Osnabrück; phone: +49 541 / 962020; fax: +49 541 / 9620222; or via e-mail: service@kuenker.de. You can access the auction catalogs online at www.kuenker.de. If you want to submit your bid from your computer at home, please remember to register for this service in good time.

To read the earlier E-Sylum article, see:
KUENKER AUCTION SALE 437, PART ONE (https://www.coinbooks.org/v28/esylum_v28n51a21.html)

 

JESUS CHRIST ON ANCIENT COINS

Justinian II, Part 1
Justinian II came to the throne in 685 at the age of 16. Heraclius, who ruled 610-41, was his great-great grandfather. Justinian's early coinage was conventional, bearing his portrait (often beautifully executed by a talented master engraver) on the obverse and a cross on steps reverse. But in 692 he introduced an extraordinary innovation: placing a bearded, long-haired portrait of Christ on the obverse of the coin, with the Latin inscription "Jesus Christ, King of Those Who Reign" (IHS CRISTOS REX REGNANTIUM).

This image, often described as Christ Pantocrator ("ruler of all things") ultimately derives from the gold and ivory statue of Zeus in the temple at Olympia, created by the sculptor Phidias circa 435 BCE. The reverse depicts the standing figure of the emperor with the inscription "Justinian Servant of Christ".

This remarkable change in the coinage may have been a gesture of defiance toward the Muslims, who recognized Jesus as a prophet, but rejected His divinity. Examples of this famous coin, even if poorly struck and off-center, are in high demand. High-quality specimens typically bring $5,000 or more at auction. On Harlan Berk's list of the 100 Greatest Ancient Coins, this type is #77 (Berk, 114). Fractional denominations were struck with the same design (the semissis worth half a solidus and the tremissis worth a third) but are quite scarce.

Justinian II, Part 2
Overthrown in a palace coup in 695, Justinian's nose was mutilated and he was exiled to a remote outpost in the Crimea. Mutilation was considered more humane than execution since it supposedly rendered the victim permanently ineligible for the throne.

In exile, Justinian has his nose repaired by an itinerant surgeon, formed an alliance with the pagan Bulgars, married a princess of the pagan Khazars, and plotted his return to power, which he accomplished in 705. Justinian's second reign was a reign of terror, during which he took ferocious vengeance on his opponents.

There was another dramatic change in the coinage, for reasons unknown.

A new portrait of Christ, with short curly hair and a short beard appeared on the obverse. This "Syrian" image was said to derive from a portrait painted from life by the apostle Luke. The reverse bears Justinian's face (with a perfectly normal-looking nose) and a new Latin inscription: "Justinian, Many Years". Shortly afterward, Justinian added the image of his young son Tiberius to the reverse; between them they hold a cross. Both types of Justinian's second reign solidus are scarce, but being in less demand they are somewhat more affordable. On Berk's list of the 100 greatest ancient coins, this is #93 (Berk, 115).

Overthrown by a military coup on November 4, 711, Justinian and his son were executed. The coinage returned to the conventional cross-on-steps reverse for over a century, during the period of the "Iconoclast Controversy".

To read the complete article, see:
Jesus Christ on Ancient Coins (https://coinweek.com/jesus-christ-on-ancient-coins/)

ROMAN ERA HOARD FOUND NEAR BORSUM, GERMANY

In Lower Saxony, officials confirmed a Roman era hoard find that includes 450 silver coins, one gold ring, one gold coin, and several silver bars near Borsum.

The cache comes from the early Roman Imperial period and was recovered during a controlled archaeological sweep after the late report.

Specialists are cleaning the coins and bars so inscriptions and surfaces can be examined for wear, mint marks, and traces of handling.

This step will guide dating to a narrower window inside the early Roman Imperial period, when emperors replaced the older republican system across Europe.

"The discovery is of enormous scientific importance," said Messal. The regional office flagged the scientific value and unusual scale, noting the hoard ranks among Lower Saxony's largest.

Researchers will identify emperors and mints on coins, which offers a terminus for burial and hints about circulation routes over long distances.

If coins cluster by date or type, that pattern might signal a short saving episode, while variety could point to long-term accumulation for trade.

Teams will examine silver content using non-destructive methods that preserve delicate surfaces for later study and museum display.

Small differences in alloy and trace elements can map sources of metal, linking bars and coins to mines that supplied imperial mints over time.

The gold ring and single gold coin may indicate either high-status ownership or mixed savings that combined prestige pieces with everyday tender.

Bars suggest conversion of loose metal into transportable value for payments or purchases, which fits frontier economies shaped by intermittent contact.

Specialists in numismatics, the study of coins and currency, will compare inscriptions, portraits, and wear to regional finds from northern Germany.

Comparisons help test whether this deposit reflects payments to allies, spoils from conflict, or commercial savings that never reached a marketplace.

To read the complete article, see:
One of the greatest Roman treasures found in decades is unearthed with a metal detector (https://www.earth.com/news/great-roman-hoards-found-in-decades-unearthed-metal-detector-near-borsum/)

CELTIC SILVER COINS LEAD TO STONE FORTRESS

When a hoard of looted Celtic silver coins popped up on the black market thanks to some metal detectorists, researchers at the University of Zagreb took notice. The team tracked the site of the coin's discovery to the top of Mount Papuk, roughly 2,000 feet above sea level, and spent two years in search of a reason for why that spot was chosen to stash a hoard of coins. What they found was an astonishing 3,200-year-old stone fortress.

"At this place, we did not expect anything like this," Hrvoje Potrebica, a professor of prehistoric archaeology at the University of Zagreb, said in a translated statement, "and it increases our amazement. In my 25-year career, I have never seen anything like this. Today we hit the jackpot."

The mountaintop excavation first exposed stone ramparts, but further investigation showed that was just the beginning. The Bronze-Age fortress was clearly designed to withstand time and attacks, and it did so remarkably well—several walls still stood over six feet tall and the mountain's natural slope helped provide even taller protection.

Investigating the fortress also revealed a three-layered wall, with a central stone layer sandwiched by layers of compacted earth, and several ramparts. "Usually, [ramparts in the Bronze Age] were built of earth and wood," Potrebica said, "so they fell into disrepair, but here it is different."

Once past the outer walls, the team found yet another stone wall, which was nearly five feet thick and would have served as a second layer of defense for the area.

When the researchers first arrived at the site, they expected to locate the remains of a newer culture—possibly the La Tene culture, which is associated with the Celts—but found evidence of one much older. While the stone fortress with an intense defensive system was surprising enough, continued exploration of the nearly 10-acre fortress comprising the site suggests that the site was more than a stronghold for soldiers. It may have, in fact, housed an entire community.

The coins that launched this whole excavation were a special treasure themselves, linked to the volcanic rocks of the nearby Rupnica and the Tresnjevica quarry. They may have even been minted at the fortress.

Potrebica said that the find forces the research community to rethink the previously accepted social and cultural norms of the Balkans during the Bronze Age—all thanks to some black market Celtic coins.

To read the complete article, see:
Scientists Spotted Rare Coins on the Black Market—And Traced Them to a 3,200-Year-Old Fortress (https://www.popularmechanics.com/science/archaeology/a69440889/black-market-coins/)

SEAL MEDAL OF KING FREDERIK III

In 1660, at the end of the Dano-Swedish War of 1658-1660, King Frederik III of Denmark-Norway had become unusually popular among the citizenry of Copenhagen due to staying in the city during the long siege by the Swedish army. The King took advantage of his popularity and outmanoeuvred the privy council at the Rigsdag, granting him absolute powers. Before then, the king had to answer to the privy council and the nobility, but now all power was in the hands of the king. He was an absolute monarch.

The transferral of all power to the king took place in many European royal houses at that time, but in Denmark, quite unusually, it was written down and made into law. This law, the King's Act, was signed in 1665 and attached to it was the newly made Royal Seal, big and imposing to reflect the new powers of the king.

The seal was engraved by Jeremias Hercules, and the king must have liked it, as he had copies made in silver to give as presents to dignitaries. We don't know how many seal medals were struck and how many reside in museums or royal collections abroad, but they almost never appear for sale. Restrikes were made in the 19th and early 20th century, but these are equally rare. One such restrike can be found in the fabled L. E. Bruun Collection.

Lars Emil Bruun's collection, which Stack's Bowers Galleries has been chosen to sell, holds many amazing medals, but few, if any, are as impressive as this, measuring 92 mm (3.6 inches) and weighing almost 300 grams (10 ounces). The obverse shows the king on his new throne, crowned and holding sceptre and orb, symbols of his divinely given power. Lions adorn the throne, referring to the Throne of Solomon (1 Kings 10). Flanking the king are the arms of Denmark and Norway. The reverse of the seal medal shows the Danish arms again, transposed on a crowned cross, all surrounded by 15 coats of arms of the lands and counties of the realm (even some that were no longer part of it). Both sides are framed by the king's titles in Latin.

Graded MS-62 by NGC, the seal medal, impressive in both condition, size and historical significance, will be offered in the L. E. Bruun Collection Part IV sale, taking place in New York on March 24-25, 2026. It will be joined by a plethora of highly graded Scandinavian coins and medals. For collectors of historical medals, Scandinavian coinage and highly graded (Top Pop) world coins, this sale cannot be missed.

To read the complete article, see:
Absolutely Majestic (https://stacksbowers.com/absolutely-majestic/)

1793 FLOWING HAIR CENT, AMERI. CHAIN REVERSE

With our recent sale of the final circulation strike "pennies" making international headlines for their strong prices realized, it might interest some who participated in the sale to see what started it all 232 years ago! We are also pleased to be offering a very Choice EF example of the first circulating cent in our February 2026 Showcase Auction.

The United States Mint was established by an Act of Congress dated April 12, 1792. The legislation authorized not just the construction of the facility, but also established by law the circulating denominations, which following Thomas Jefferson's suggestion of a decimalized system, a revolutionary idea for the time. The basic unit was the silver dollar, with fractions thereof. The first coins to be struck for circulation under the auspices of this Act were produced in small quantities in John Harper's shop in 1792. In early 1793, with the Mint facilities constructed, the first cents and half cents were struck.

The first cents were of Henry Voigt's design and featured Liberty, represented by a female's head facing right, her flowing locks of hair blowing back. On the reverse, borrowing from the 1787 Fugio cents and Continental Currency notes of the Revolutionary War period, was a circle formed by chain links, to represent unity. The first reverse die was engraved with such wide spacing in the words UNITED STATES OF that AMERICA had to be abbreviated as AMERI., creating a very popular subtype.

These first cents were issued into circulation, and the response in the press was not great. Critics called the coin a bad omen for Liberty, citing the portrait as showing her "as if in a fright." Rather than understanding the chain as a representative of strength in unity, it was called out as symbolizing slavery. Quickly, the design was changed to the Flowing Hair, Wreath type.

In our February 2026 offering of the Dean Oakes Family Collection is a very choice EF-45 (PCGS) example of the famed AMERI. Chain cent.

To read the complete article, see:
Historic 1793 AMERI Chain Cent the First Circulating Cent Struck by the United States Mint (https://stacksbowers.com/historic-1793-ameri-chain-cent-the-first-circulating-cent-struck-by-the-united-states-mint/)

To read the complete lot description, see:
1793 Flowing Hair Cent. Chain Reverse. S-1, B-1. Rarity-4. AMERI. EF-40 (PCGS). CAC. OGH. (https://auctions.stacksbowers.com/lots/view/3-1PHHJM/1793-flowing-hair-cent-chain-reverse-s-1-b-1-rarity-4-ameri-ef-40-pcgs-cac-ogh)

THE ABOLITION OF COINS

What appears on circulating coinage is not just a visual choice. It is a statement about whose stories are considered foundational enough to be woven into the ordinary rituals of national life. It signals which histories we believe belong not only to museums or commemorations, but also to the nation's shared civic identity.

As the United States approaches its 250th anniversary in 2026, those design choices carry extraordinary weight.

Anniversaries are never neutral. They are acts of storytelling. They reveal not only what a nation honors, but what it chooses to leave out. At moments like this, remembrance becomes a test of conscience. It asks whether we are willing to tell the full story of who we are, or only the parts that make us comfortable.

A nation that claims to uphold its principles must decide where those ideals are made visible. That history of struggle and expansion of freedom was supposed to be reflected in the United States Mint's 2026 Semiquincentennial Quarters Program, the original circulating-coin series planned to mark the nation's 250th anniversary.

I know this to be true, not from the sidelines, but as someone brought into the process while it was still underway. In late May 2024, I was invited to work with the United States Mint as designs for the Frederick Douglass Abolitionism Quarter were being developed.

I met with Mint officials, reviewed evolving portfolios, and participated in formal discussions about how my great-great-great-grandfather, Frederick Douglass, would be represented. I also addressed the Citizens Coinage Advisory Committee virtually during its public review, offering input before a final design was selected. This was not an abstract policy debate unfolding at a distance. It was a real, deliberative process, one in which I was intimately involved.

The coin concepts under consideration were not random. They were intentional. Among them were a quarter honoring abolition through Frederick Douglass, a coin recognizing the women who fought for the vote, and a quarter commemorating Ruby Bridges, the six-year-old child who desegregated an all-white school in New Orleans, exposing the lie that freedom, once declared, had been fully delivered.

These were not decorative choices. They were moral ones.

Had the recognition moved forward, the Frederick Douglass Abolitionism Quarter would have marked the first time an African American appeared on United States currency in general circulation, not as a commemorative issue, but as part of the nation's everyday economic life.

As a Douglass descendant, I know how significant that moment would have been, not only for our family, but for Black Americans who have long waited for the nation's civic symbols to reflect the reality that we have always been part of its story.

As I worked with the United States Mint on the Frederick Douglass Abolitionism Quarter, I returned again and again to a simple yet historically grounded truth. Frederick Douglass was not only an abolitionist. He was a founding father of the Second American Republic that emerged from the Civil War.

The nation that came into being through the Reconstruction Amendments, the country that abolished slavery, redefined citizenship, and attempted, however imperfectly, to make equality enforceable under law, was shaped profoundly by my great ancestor's moral vision. He did not merely critique the founding; he helped redefine the nation through a broader, more honest understanding of freedom.

As his descendant, this distinction is not abstract to me. It shaped how I approached the design discussions themselves. Some of the concepts depicted him mid-oration, hands raised, speaking from behind a podium. That imagery reinforced a familiar frame of protest and persuasion—powerful, but incomplete. It was not how he needed to be presented here.

We ultimately landed on a dignified profile portrait, one that deliberately echoed the visual language long reserved for presidents and founding fathers. The message was deliberate. Not Frederick Douglass speaking truth to power, but Frederick Douglass recognized as a statesman of conscience whose ideas helped shape the nation's moral and constitutional architecture.

The casting aside of the original semiquincentennial coin program belongs squarely in that same lineage. It is not merely a retreat from diversity, but an assertion of power over memory, a deliberate narrowing of who is permitted to define the nation and whose struggles are deemed expendable.

What makes this erasure especially jarring is what it reveals about white supremacy and the machinery of exclusion. The figures removed from the coin program, Frederick Douglass, the suffragists, and Ruby Bridges, are not marginal characters in the American story. They are among the people who made the country better, who pressed and agitated for it to live up to its own ideals when those ideals were denied in practice.

To remove them from the nation's 250th anniversary is not an act of historical neutrality. It is a choice about whose contributions count, and whose struggles are deemed too unsettling to commemorate.

To read the complete article, see:
The Abolition of Coins (https://blackvoicenews.com/2025/12/27/douglass-coin-design-debate/)

To read the earlier E-Sylum articles, see:
U.S. MINT SEMIQUINCENTENNIAL COIN LAUNCH (https://www.coinbooks.org/v28/esylum_v28n50a23.html)
UNCHOSEN SEMIQUINCENTENNIAL COIN DESIGNS (https://www.coinbooks.org/v28/esylum_v28n50a24.html)

ASH­CROFT DECRIES GAL­LERY REPLACEMENT

THE Imper­ial War Museum has been accused of neg­lect­ing Vic­toria Cross her­oes in favour of trans­gender his­tory.

The upper floor of the museum once housed the world's largest collec­tion of the medals, which are Bri­tain's highest mil­it­ary honour.

However, the museum announced earlier this year that the exhib­i­tion would be closed, and cur­at­ors have been accused of pivot­ing to focus on LGBT his­tory. A vir­tual tour titled Refrac­ted His­tor­ies: Explor­ing LGBTQ+ Stor­ies in Times of Con­flict has been launched, allow­ing vis­it­ors to learn about the "LGBTQ+ com­munity" that has "always been present dur­ing times of con­flict".

Sub­jects in the new self-guided LGBT tour include "drag shows" in POW camps,

Lord Ash­croft, who owns the Vic­toria Cross col­lec­tion, was aghast at the decision to remove the on-loan medals, and has now accused the museum of being "bey­ond par­ody".

The Tory peer claimed in a mes­sage on X that the new LGBT tour was "part of the reason" the Imper­ial War Museum "kicked out over 200 Vic­toria Crosses telling the incred­ible stor­ies of the bravest of the brave". The Lord Ash­croft gal­lery was opened in 2010 fol­low­ing a £5 mil­lion dona­tion from the life peer, and it was used to house his £70m col­lec­tion of medals, which were to be loaned for 15 years.

The gal­lery per­man­ently closed in June and the col­lec­tion was returned to Lord Ash­croft, who claimed that he had no prior knowledge of the plans to shut down the space.

The Imper­ial War Museum said it plans to expand its mater­ial relating to con­flict post-Second World War, mak­ing use of what was the Lord Ash­croft Gal­lery.

To read the complete article, see:
Museum ‘replaces Ash­croft medal gal­lery with trans his­tory tour' (https://www.pressreader.com/uk/the-daily-telegraph-saturday/20251227/281711211005928)
Imperial War Museum accused of removing medals to promote LGBTQ history (https://www.telegraph.co.uk/news/2025/12/26/imperial-war-museum-accused-remove-medals-promote-trans/)

To read the earlier E-Sylum article, see:
MUSEUM TO CLOSE VICTORIA CROSS EXHIBIT (https://www.coinbooks.org/v28/esylum_v28n09a27.html)

TYPES OF SANTA CLAUS VIGNETTES

Happy Holidays! One of the most surprising aspects of collecting currency is that Santa Claus was quite a popular subject of private banknote companies during the 1850s and 1860s. These depictions are very popular with collectors and can be next to impossible to find on certain issued notes. A breakdown of the various Santa Claus vignettes may be found below in detail:

Type I: A favorite of banks like the White Mountain Bank of Lancaster in New Hampshire. This vignette depicts a rotund Santa Claus seated in his sleigh attempting to takeoff from a snowy roof while his reindeer collectively struggle to gain altitude in the process. This vignette is by far the most common of the Santa Claus vignettes and can readily be had thanks to the aforementioned bank in New Hampshire or the well-made Contemporary Counterfeits that imitate the notes issued by the Howard Banking Company of Boston such as the example we sold in our November 2024 Showcase Auction (lot 7035) for $1,620.

Type II: The Type II vignette was a mainstay of the Obsolete notes issued by the Saint Nicholas Bank before it became the Saint Nicholas National Bank of New York (Charter# 972) in 1865. This vignette notably departs from more traditional depictions of Santa Claus. Here he's depicted as an elf-like creature seen emerging from a fireplace with a sack of gifts upon his back attempting to evade detection from a house cat (and likely children) before hastily departing for the next house before the night is out. We previously sold an $1 Obsolete from Saint Nicholas Bank with the Type II vignette as part of the Hararn Family Collection in our Spring 2025 Showcase Auction (lot 20189) for $2,640.

Type III: Roger Durand writes in Interesting Notes About Christmas that the Type III vignette accounts for the most frequently used Santa Claus vignette when looking at the number of banks that used this design. However, the Type III vignette is almost exclusively encountered on Proofs making it a major rarity when encountered on an issued note like the $1 Obsolete issued by the Iron Bank of Plattsburgh that sold in November 2024 Showcase Auction (lot 7044) for $7,500. This vignette depicts Santa Claus and his reindeer in flight attempting to land on a snowy rooftop with a chimney in the background.

Type IV: This vignette is recognized as one of the rarest Santa Claus vignettes. Here Saint Nicholas can be seen entering a room undetected with a bag of toys upon his back while holding a small doll in his left hand. Two children can be seen asleep in the background unaware of his presence which seems to please the bearded Saint Nick who appears fairly petite compared to most depictions of Santa Claus. This particular vignette is believed to be unique in issued form. A $5 Obsolete issued by the Bank of Milwaukee which features this vignette at left; it sold for $22,200 in our November 2024 Showcase Auction (lot 7048).

Type V: The Type V Santa Claus vignettes are exceedingly rare in issued form as only the Saint Nicholas Bank of New York used this arrangement for their $5 and $10 notes. Here Santa Claus is depicted in his sleigh traveling through the street with his reindeer while a frozen water pump may be seen in the background. Roughly 14 years ago we sold a stock certificate from the Edison Phonograph Toy Manufacturing Company that used this vignette above the title block as part of the 52 Collection Part II (lot 3638) for $3,737.50.

Type VI: This vignette is exceedingly rare having been used by two banks based out of Massachusetts and New York. We previously sold an example of this vignette back encountered on a $2 Obsolete issued by the Knickerbocker Bank of New York in our August 2011 Chicago ANA auction (lot 5252) for $40,250 once bidding had ended. Here an elf-like Santa Claus is sitting at the fireside with a toy in his right hand.

Type VII: The Type VII is by far the most enigmatic Santa Claus vignette and appeared on the $20 and $50 Obsoletes issued by the Saint Nicholas Bank. No issued or Proof examples are known to have survived. It is believed to be visually similar to the Type IV vignette save for the addition of a fireplace and chimney in the background.

To read the complete article, see:
The Many Faces of Santa Claus (https://stacksbowers.com/the-many-faces-of-santa-claus/)

ANOTHER GAZA BANKNOTE REPAIRMAN

In a bustling Gaza City market, a money repairer expertly inspects a worn, yellow 100 shekel ($30.50; £23.10) note. He straightens it out and enhances its faded colour with careful strokes of a pencil.

Baraa Abu al-Aoun should have been studying at university - but instead he ekes out a living from a table he has set up at the roadside, taking a small sum to help keep cash in circulation.

Fixing banknotes is a thriving new business in Gaza.

Ever since the deadly Hamas-led attack on Israel in 2023 and the devastating war that ensued, Israel stopped transfers of banknotes, along with most other supplies.

Most banks were destroyed in Israeli strikes, and many were looted. While some branches have reopened since a ceasefire took effect seven weeks ago, there are still no working ATMs.

But people need cash to buy food and essentials. That has forced them to turn to informal money merchants who charge enormous commissions to turn digital transfers into cash. It has also sparked a huge increase in the use of e-wallets and money transfer apps.

And it means that every existing banknote matters more than ever - no matter how tattered. That's where Baraa comes in. "My tools are simple: a ruler, pencils, coloured pencils and glue," he says.

The lack of cash circulating has "caused problems for both sellers and buyers", says Zakaria Ajour, a stall-holder at another market in Gaza City. People don't want to accept worn and delicate notes at face value any more, "if there are even small scratches or pieces of tape on a note.

"Some customers come to me just because they want small change for transport, but I don't have change," Mr Ajour goes on. "Ten-shekel coins are barely found, and even when they are, they have virtually no value because of inflation due to the cash crisis."

Back in Gaza City, Baraa Abu al-Aoun holds the banknote he has been working on up to the light. expertly. He has more customers waiting, attracted by his sign promising repairs "with high professionalism and without adhesive tape".

To read the complete article, see:
Why I spend hours painstakingly repairing banknotes (https://www.bbc.com/news/articles/c5yq6g1gv4jo)

To read the earlier E-Sylum article, see:
REPAIRING GAZA'S TATTERED BANKNOTES (https://www.coinbooks.org/v28/esylum_v28n48a26.html)

PREVIOUSLY UNKNOWN HONUS WAGNER CARD

Chris writes:

An example of the iconic and rare T206 Honus Wagner baseball card is going to auction next month after being held by the same family for 116 years.

According to Goldin Auctions founder and CEO Ken Goldin, whose company is handling the sale, "this is the biggest discovery in the hobby in the past 50 years" because of how extraordinary it is for a publicly unaccounted T206 Wagner card to come to light.

The card was consigned by the Shields family, descendants of Morton Bernstein, who owned a silver manufacturing plant and started collecting trading cards in the early 1900s. Bernstein pulled the Wagner card from an original cigarette pack around that time. It was kept as part of a framed collection, passed down through the family and preserved by Bernstein's grandsons, Dennis and Douglas Shields.

"I've never been able to trace a Wagner that has stayed in only one family since the day the card came out," Goldin said. "The Shields' care and respect for their grandfather's collection — carefully looked after behind closed doors for 116 years — has preserved one of the hobby's true grails, and the importance of this cannot be overstated."

"It's a momentous day when Honus Wagner walks through the door as a century-old family heirloom; one that PSA graders dream about, and a first for my tenure," said Ryan Hoge, president of Professional Sports Authenticator (PSA). "We're honored to assess and preserve a card that encapsulates the rich history of collecting like no other."

The Shields' Wagner auction has a starting bid of $1 million and will open on Jan. 21. Some of the proceeds from the sale will be donated to Happy Trails for Kids, a nonprofit that provides transformative outdoor experiences for children in foster care, according to Goldin.

To read the complete article, see:
Newly graded T206 Honus Wagner card going to auction after 116 years with same family (https://www.nytimes.com/athletic/6911059/2025/12/22/t206-honus-wagner-auction-goldin/)

LOOSE CHANGE: DECEMBER 28, 2025

ANS Headquarters History

To read the complete article, see:
ANS relocates to Ohio (https://www.sixbid.com/en/blog/the-end-of-an-era-ans-relocates-to-ohio/)

Silver Outshines Oil

In a year in which precious metals shined, silver stole the show.

Silver's price blew through a 45-year-old record and has more than doubled in 2025. At $76.486, a troy ounce of silver is worth more than a barrel of oil in futures markets, where U.S. crude ended Friday at $56.74.

Aside from two brief stretches in the chaos of 2020's Covid crash, that hasn't happened since West Texas Intermediate oil futures began trading in 1983. Neither investors nor industry can get enough of the precious metal, while a glut of oil has swamped energy markets and depressed fuel prices.

As with gold, which is up 72% this year and trading at its own record, silver is hoarded physically and on paper by investors hoping to store wealth and hedge against risks to the U.S. dollar and other currencies.

To read the complete article (subscription required), see:
An Ounce of Silver Is Now Worth More Than a Barrel of Oil (https://www.wsj.com/finance/commodities-futures/an-ounce-of-silver-is-now-worth-more-than-a-barrel-of-oil-196e149e)

NGC Year In Review

Without a doubt, there has been a tremendous boost of activity and excitement in all numismatic circles during 2025. Rare coins in high grades and problem-free circulated collector coins are being scarfed up by scores of eager collectors. Auction houses are very, very busy — it seems like every hour my iPhone alerts me that another auction is about to start. Will this juggernaut continue in 2026 and beyond? Who knows? Maybe consulting with some numismatic notables and fellow coindexters would help answer that.

To read the complete article, see:
Jim Bisognani: My 15th Annual NGC Year in Review – Part 1 (https://www.ngccoin.com/news/article/14760/)

GOVMINT Partners with Nevada State Museum

GOVMINT has announced an exclusive partnership with the Nevada State Museum to release limited-edition Carson City Mint 155th Anniversary Commemoratives in gold and silver. These dual-dated 1870-2025 pieces replicate the original designs of the first coins struck at the Carson City Mint in 1870 and feature a special anniversary privy mark. Some were even struck on the historic Coin Press No. 1-the same press that powered the Mint's earliest coinage.

The official release reception took place November 13 at the Nevada State Museum's Numismatic Exhibit, with Nevada Governor Joe Lombardo in attendance. He praised the partnership for honoring an important chapter in Nevada's history.

The collection includes designs from the original 1870 Seated Liberty Silver Dollar, $10 Gold Liberty Eagle, and $20 Gold Liberty Double Eagle-coins that marked the Mint's opening. Each piece bears the Carson City mintmark and a 155th Anniversary privy mark depicting the Mint building with "CC" and "155."

• Gold Options: Half-ounce and one-ounce pieces in 99.99% pure gold
• Silver Option: One-ounce piece in 99.9% pure silver
• Historic Touch: The half-ounce gold piece was struck on Coin Press No. 1, built in 1869 and used for the Mint's first coinage.

To order a one-ounce silver example, see:
1870–2025 Carson City Mint 155th Anniversary 1-oz Silver Commemorative BU (https://www.govmint.com/1870-2025-1oz-silver-liberty-155th-anniversary-of-carson-city-mint-bu)

To read the complete articles, see:
GOVMINT Announces Exclusive Partnership With Nevada State Museum for Carson City Mint 155th Anniversary Gold & Silver Commemoratives (https://www.bignewsnetwork.com/news/278734069/govmint-announces-exclusive-partnership-with-nevada-state-museum-for-carson-city-mint-155th-anniversary-gold-silver-commemoratives)
GOVMINT Announces Exclusive Partnership With Nevada State Museum for Carson City Mint 155th Anniversary Gold & Silver Commemoratives (https://www.accessnewswire.com/newsroom/en/consumer-and-retail-products/govmint-announces-exclusive-partnership-with-nevada-state-museum-for-c-1112537)

Wisconsin Man Spends $100 bill with Trump's Portrait

A 75-year-old man was arrested on Wednesday for allegedly attempting to pay with a fraudulent $100 bill featuring President Donald Trump's face.

The Mount Horeb Police Department was dispatched to Kwik Trip, where they found probable cause to arrest the man for forgery-uttering.

Officials said the bill was realistic in appearance including design, size and even the 3D blue security ribbon. The fraudulent bill was not alone; it was mixed among several U.S. currency bills.

To read the complete article, see:
Man arrested for using fraudulent $100 bill with Trump's face in Mount Horeb (https://www.channel3000.com/news/man-arrested-for-using-fraudulent-100-bill-with-trumps-face-in-mount-horeb/article_201e90cc-519b-4063-b182-0d3f8950213f.html)

John Feigenbaum Interviews Kevin Lipton

Today we meet Kevin Lipton -- quite possibly the most famous coin dealer you've never heard of. Of course, IYKYK. Kevin has been a major behind-the-scenes player in the business since his teenage years in the 1970s. And boy does he have stories to tell.

In this video, John dives deep and yet still only scratches the surface of the Lipton's story. From humble New Jersey beginnings to numismatic icon, you'll learn how he helped turn coin collecting from an elite pastime into a hobby accessible to everyone. Whether you're a seasoned collector or just curious about rare coins, this story will surprise and inspire you.

Timestamp:

• 00:00 — Intro: Why this dealer matters
• 00:45 — Early life and start in the business
• 02:10 — First major sale & rise to prominence
• 04:30 — How they changed coin collecting for everyone
• 06:15 — Most famous deals and legendary sales
• 08:40 — What made them iconic — marketing, personality & coin knowledge
• 10:05 — Legacy: Influence on modern coin collecting
• 12:00 — Conclusion: Why he remains "the most famous coin dealer"

To watch the complete video, see:
The Most Famous Coin Dealer You Never Heard Of! (https://www.youtube.com/watch?v=xUdPxXwQZmo)

ABOUT THIS ISSUE: DECEMBER 28, 2025

Wayne Homren
Wayne Homren is the founding editor of The E-Sylum and a consultant for the Newman Numismatic Portal. His collecting interests at various times included U.S. Encased Postage Stamps, merchant counterstamps, Pittsburgh Obsolete paper money, Civil War tokens and scrip, Carnegie Hero Medals, charge coins and numismatic literature. He also collects and has given presentations on the work of Money Artist J.S.G. Boggs. In the non-numismatic world he's worked in artificial intelligence, data science, and as a Program Manager for the U.S. Department of Defense.

Garrett Ziss
Garrett Ziss is a numismatic collector and researcher, with a focus on American paper money and early U.S. silver and copper coins. He is also a part-time U.S. coin cataloger for Heritage Auctions. Garrett assists Editor Wayne Homren by editing and formatting a selection of articles and images each week. When he's not engaged in numismatics, Garrett is pursuing a Master's Degree in Quantitative Economics at the University of Pittsburgh.

Pete Smith
Numismatic researcher and author Pete Smith of Minnesota has written about early American coppers, Vermont coinage, numismatic literature, tokens and medals, the history of the U.S. Mint and much more. Author of American Numismatic Biographies, he contributes original articles to The E-Sylum often highlighting interesting figures in American numismatic history.

Greg Bennick
Greg Bennick (www.gregbennick.com) is a keynote speaker and long time coin collector with a focus on major mint error coins and US counterstamps. He is on the board of both CONECA and TAMS and enjoys having in-depth conversations with prominent numismatists from all areas of the hobby. Have ideas for other interviewees? Contact him anytime on the web or via instagram @minterrors.

John Nebel
Numismatist, photographer, and ANS Board member and Fellow John Nebel of Boulder, CO helped the ANA and other clubs like NBS get online in the early days of the internet, hosting websites gratis through his Computer Systems Design Co. To this day he hosts some 50 ANA member club sites along with our coinbooks.org site, making the club and our E-Sylum archive available to collectors and researchers worldwide.

Bruce Perdue
Encased coinage collector (encasedcoins.info) Bruce Perdue of Aurora, Illinois has been the volunteer NBS webmaster from its early days and works each week to add the latest E-Sylum issue to our archive and send out the email announcement.