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 JANUARY 25, 2026

New subscribers this week include: Richard Jerram, courtesy Fred Liberatore; Ryan Howe and Wayne Prochaska, courtesy of Fred Holabird; Ralph Cole, and Gordy McCarville. Welcome aboard! We now have 6,664 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 book review, a death notice, updates from the Newman Numismatic Portal with four more books, notes from readers, and more.

Other topics this week include the San José and SS Central America shipwrecks, encased coins, the FUN show, the Loye L. Lauder sale, Fulbright scholars in numismatics, fixed price and auction selections, and scientists who turned lead into gold.

To learn more about Roger Dooley, Doc Davis, Dr. Alan Stahl, Haym Salomon, creating the Newman Numismatic Portal, Croatian banknotes, why most coins are round, a REGARD ring, gold nugget stickpins, The Art of Medal Engraving, The Florentine Florin, the RMS Lusitania, the 1802 half dime, and the first Bulgarian banknote, read on. Have a great week, everyone!

Wayne Homren
Editor, The E-Sylum

 

BOOK REVIEW: NEPTUNE'S FORTUNE

Precise amounts of the precious metals brought on board the San José for what turned out to be its final voyage are impossible to ascertain. But as Julian Sancton tells us in his splendid "Neptune's Fortune: The Billion-Dollar Shipwreck and the Ghosts of the Spanish Empire," it is estimated that there was "as much as eight tons' worth of gold on board, more than had ever sailed in a single Spanish ship," and "more than a million silver coins," in addition to precious-metal contraband and—another estimate—600 or so people.

The ship would, over time, attain legendary status and prompt the widespread belief, on at least three continents, that it was, as Mr. Sancton writes, "the most valuable shipwreck in history." But where exactly did the San José sink?

For hundreds of years, interested parties guessed wrong. Then came Roger Dooley. Born in New Jersey in 1944 to a Cuban mother and an American father, Mr. Dooley was 3 when his parents separated. After several years of moving about, he was living in Cuba with his mother and brother when, in 1959, Fidel Castro took control of the island nation. Beguiled by Castro's soldiers, 15-year-old Roger joined the army. But he was also entranced by diving (courtesy of the American television show "Sea Hunt") and would become, Mr. Sancton tells us, a naturally skilled diver. The Caribbean was filled with centuries-old shipwrecks, and Mr. Dooley became enthralled by marine archaeology.

His life as a working archaeologist was either a tribute to his idealism (if you believe Mr. Dooley) or pervaded with hypocrisy and duplicity (if you believe his enemies). He became deft at cultivating businessmen, politicians (including Juan Manuel Santos, the former president of Colombia) and professional treasure hunters. Mr. Dooley defends these relationships as necessary in his pursuit of his scientific goals. One wealthy American entrepreneur, whom Mr. Dooley introduced to top Cuban cabinet officials for a book project on sailing Cuba's shores, helped remove Mr. Dooley from the U.S. sanctions list.

Mr. Dooley is also a discerning and indefatigable researcher. In 1984, while at the General Archive of the Indies in Seville, Spain, he came upon several letters written in 1708 that contained, Mr. Sancton tells us, "critical clues" to the San José's whereabouts. From that moment on, the sunken warship became Mr. Dooley's lodestar, even as he "became ever more cynical" about the Cuban revolution. But it was in 1999, while examining 400 centuries-old Spanish maps in the Library of Congress in Washington, that Mr. Dooley discovered a 1729 map he felt sure would help lead him to the San José.

Mr. Sancton, an editor for the Hollywood Reporter and the author of "Madhouse at the End of the Earth" (2021), is an expert guide through 18th-century European geopolitics, modern Latin American geopolitics, Mr. Dooley's decadeslong pursuit of the San José, and the state-of-the-art technology that makes modern marine archaeology possible.

To read the complete article (subscription required), see:
‘Neptune's Fortune' Review: The Wreckage of Obsession (https://www.wsj.com/arts-culture/books/neptunes-fortune-review-the-wreckage-of-obsession-766c3365)

For more information, or to order, see:
Neptune's Fortune: The Billion-Dollar Shipwreck and the Ghosts of the Spanish Empire (https://www.amazon.com/Neptunes-Fortune-Billion-Dollar-Shipwreck-Spanish/dp/0593594177/ref=sr_1_1)

CLAUDE E. DAVIS (1926-2025)

It is with sadness that I provide this announcement to the Numismatic Community, of the passing of Claude E. Davis, affectionately known as "Doc Davis" to many, on December 26, 2025.

Doc resided in Angola, IN, and was a veteran of WWII, Board Certified Surgeon, Pilot, Deputy of Angola PD, Advanced collector, and Patriarch of the Davis family. He is survived by his wife, Mary (Jeanne) Davis, sister Elizabeth Davis, and many children, grandchildren, and great-grandchildren. Doc was a Life Member of the ANA, LM 1023. In the pursuit of collecting coins, first through trial and error and the help of others, he taught himself, which led eventually to an in-depth study of the pieces he wanted to acquire.

His most notable achievement in numismatics was building the Foxfire Collection, one of the finest cabinets of Early American Silver and Copper type coins ever assembled. Doc was 99 at the time of his death.

For more information on the Foxfire Collection, see:
The Foxfire Collection: Featuring United States Type Coins... 1793 to Date (https://nnp.wustl.edu/library/book/538766)

LAWNICZAK RELEASES REFERENCES ON ENCASED COINS

James Lawniczak Releases References on Encased Coins

An encased coin is a coin – most often a U.S. cent - that has been set into a metal holder, usually aluminum, which was struck around the coin using dies. The holder typically carries advertising, a commemorative message, or a "good luck" slogan, while the coin itself is locked in place as part of the striking process. Encased coins first appeared around 1899 and were commonly used in the early to mid-20th century by merchants, events, and organizations as advertising pieces, souvenirs, or pocket charms. Because the coin was struck in place, an original encased coin will hold the coin tightly, with no gap between the coin and the holder.

The number of such issues in the U.S. is well into the tens of thousands, and the researcher James Lawniczak has put order to the chaos with his release of comprehensive references on encased coins of Michigan, Ohio and New York, numbering over 4,000 issues in total. Authors of similar catalogs are well-aware of the sustained effort needed to compile this data over a long period of time, and thanks are due to Jim for freely sharing this work.

Image: Majestic Saloon (Las Cruces, NM) encased cent, ex. Heritage Auctions, 9/17/2008, lot 28546 (realized $1,150). Images courtesy of Heritage Auctions.

Link to James Lawniczak's references on encased coins:
https://nnp.wustl.edu/library/booksbyauthor/557736

NEW BOOK: MEDALS COMMEMORATING HAYM SALOMON

The Newman Numismatic Portal website (https://nnp.wustl.edu/library/books) contains over 2,300 books. One of the newest works is "Medals, Etc. Commemorating Haym Salomon" by Mel Wacks, celebrating the "Financier to the American Revolution," available exclusively on the NNP.

The Portal describes Wacks' new work as follows:

Above are pictures of the newest tribute to Haym Salomon—a 3 ½ bonded bronze art medal created by Eugene Daub for the Jewish-American Hall of Fame. It is available for $200 by calling 818-225-1348. Mention this publication and take 10% discount.

To read the catalog on NNP, see:
Medals, etc. Commemorating Haym Salomon (https://nnp.wustl.edu/library/book/652188)

VIDEO: NEWMAN NUMISMATIC PORTAL

Leonard Augsburger speaks on the Newman Numismatic Portal at the ANA National Money Show in Dallas (March, 2016).

To watch the complete video, see:
Newman Numismatic Portal (https://youtu.be/-zS0A3EeP3o)
Newman Numismatic Portal (https://nnp.wustl.edu/library/book/554705)

NOTES FROM E-SYLUM READERS: JANUARY 25, 2026

Croatian Banknotes Published in German and Croatian
Dusty Dragicevic writes:

For more information, or to order, see:

• https://www.velered.com/
• https://rbcurrency.com/en/p/kroatische-banknoten-eine-standardreferenz-dusty-dragicevic-1-auflage-2023-deutsche-version
• https://rbcurrency.com/en/p/hrvatske-novcanice-standardni-prirucnik-dusty-dragicevic-auflage-2024-kroatische-version

To read the earlier E-Sylum articles, see:
NEW BOOK: CROATIAN BANKNOTES (https://www.coinbooks.org/v25/esylum_v25n23a06.html)
NEW BOOK: MACEDONIAN BANKNOTES (https://www.coinbooks.org/v29/esylum_v29n02a05.html)

Book: All the Best Rubbish

Dennis wrote:

To read the complete post, see:
https://www.facebook.com/100000768993821/posts/25657694457172836/?rdid=C2f885YOhyAayd5Q#

Subscriber Profile: Richard Jerram
New subscriber Richard Jerram writes:

More on the Semiquincentennial Circulating Coin Designs
Responding to John Ostendorf's comments, Dick Hanscom writes:

To read the earlier E-Sylum article, see:
NOTES FROM E-SYLUM READERS: JANUARY 18, 2026 : Thoughts on the Semiquincentennial Circulating Coin Designs (https://www.coinbooks.org/v29/esylum_v29n03a15.html)

Why Are Most Coins Are Round?

To watch the complete video, see:
Why Most Coins Are Round? A Shape Chosen for a Purpose [ID2104] (https://www.youtube.com/watch?v=U4wtJdEZqB8)

PRINCETON CURATOR DR. ALAN STAHL TO RETIRE

Princeton's Numismatics Collection, the oldest coin collection of any educational institution in the country, will lose its curator this year. Dr. Alan Stahl has held this role since 2004 and will leave in June.

The future of the curatorial position remains uncertain, according to Stephanie Oster, a spokesperson for the Princeton University Library.

"We are still trying to navigate through what the University is expecting, from a hiring perspective. If we're able to, we will post the position," Oster said in an interview with Stahl and The Daily Princetonian.

Numismatics is the study of coins, paper money, tokens, and medals. The University's collection, started in 1849, is housed in the Library's Special Collections. Currently, the collection contains 115,000 items, including two notably extensive holdings of Byzantine coinage and early medieval Persian coins.

Stahl's work was largely focused on the acquisition and online cataloging of these antique items.

"Over the past 20 years that I've been here, we've gotten about 20,000 coins cataloged and online," Stahl said in an interview with the ‘Prince.'

Much of the Collection comes from alumni donations, and Stahl also frequently attends auctions to bid on items of interest. Although he has his own budget for purchases, he occasionally obtains external funding from academic departments, especially for rare and costly items.

Stahl also described the Collection's growth since his arrival in 2004.

"The first big thing we got was the Wu collection of Chinese coins sent our way by an alumnus," he said. "This is a comprehensive [collection] going back from the earliest Chinese coinage up to the 20th century."

He has notably overseen the acquisition of a large array of Crusader coins and two immense assemblages of Byzantine coins.

"We claim to be the largest collection of Byzantine coinage in the world," he said.

Stahl holds a Ph.D. in history from the University of Pennsylvania, with a specialization in archaeology and art history. He began working in numismatics at the American Numismatic Society, a private coin museum in New York City.

"Luckily, from my time at the Numismatic Society, I picked up a certain knowledge of Greek coins, Roman coins, Islamic coins, Chinese coins, and all the major things we deal with in our collection," Stahl said.

In 2010, Stahl received the Royal Numismatic Society medal for his book, "Zecca: The Mint of Venice in the Middle Ages."

As curator, one of Stahl's primary goals was to meet regularly with students. For 22 years, he has met with two dozen different classes and precepts, often focusing on Greek, Roman, East Asian, Near Eastern, and art history.

Stahl himself was a lecturer in the Departments of Art and Archaeology, Classics, and History, and taught courses on medieval history, including Italian city-states, international commerce, and medieval democracy.

After leaving Princeton, Stahl plans to "continue to balance numismatics with history." He recently published a book about the history of a 14th-century family in Venice and hopes to pursue further research on the city.

"We are all deeply grateful for all the many contributions [Stahl] has made to the teaching of numismatics at Princeton over many years. He will be sorely missed," Flower said.

To read the complete article, see:
Numismatics Collection curator to leave in June (https://www.dailyprincetonian.com/article/2026/01/princeton-news-academics-numismatics-collection-curator-leave-june-alan-stahl)

JEFF GARRETT: 2026 FUN SHOW REPORT

By around noon, word started to spread on the bourse floor about the MASSIVE numbers of public participants trying to get into the show. There was a line snaking the length of the convention center, which is huge. I have heard that some members of the public had to wait over an hour and a half for their credentials to get in. Based on the line we saw, this was probably not an exaggeration.

Later that afternoon, the bourse was alive with activity, and the aisles were packed with rare coin buyers. Every table had multiple customers elbowing for attention. It was the most active bourse I have ever witnessed, and I have been to every major coin show for more than 50 years. To say the coin show was amazing would be a huge understatement.

Many observers commented that the 2026 FUN Show seemed more like a sports show or Comic-Con convention. Rare coins were finally having their day in the sun! This activity continued throughout the week, and we were selling coins as they were being taken from the showcase late Saturday afternoon. Luckily, we continued to buy coins during the convention and were able to keep the showcases from being empty.

Over the years, many world and ancient dealers have discovered the FUN Show. In the past, the New York International Numismatic Convention conflicted with the FUN Show, and most of those dealers chose to attend the NYINC event. Now, the NYINC is a week later, and those dealers no longer have to make a choice. This year, the ancient and world section was very large, and they all seemed ecstatic with their sales. We were able to buy some amazing ancient coins from a German dealer.

The Certified Collectibles Group (NGC and PMG) created an impressive display for the FUN Show, with information about all of the collectibles categories they certify. I love the comics and other samples they had at their booth. Maybe that's a category of collectibles our company should explore! The NGC booth was slammed with activity from start to finish.

Other large companies also had impressive booths, including an unlikely new entrant into numismatics: Walmart. They were signing up dealers for their online platform that has hundreds of millions of monthly visitors. It will be interesting to see how dealers fare selling on Walmart's online platform.

[The show] broke all records for FUN show attendance going back more than 70 years. Many dealers told me the show was the BEST show they ever had. Our company also set a new sales record for a single show. The FUN Show has long been considered the bellwether event of the year and a sign of things to come. If that is the case, 2026 will be very, very special!

To read the complete article, see:
Jeff Garrett: 2026 FUN Show Report (https://www.ngccoin.com/news/article/14876/jeff-garrett-fun-show-report/)

2026 FUN SHOW ATTENDANCE EXPLODES

To read the earlier E-Sylum article, see:
(https://www.coinbooks.org/v29/esylum_v29n03a16.html)

VOCABULARY TERM: SELF-PORTRAIT

Self-Portrait. The artist creates his own image for a medallic item, or, in rare instances, includes his image among human figures depicted on a medallic item. As can be expected, the artist will show his own portrait in the best manner, or at least how he wants the world to remember him or her. While these portraits are a form of self-immortalization, they are so important to the art world that many art and academic organizations encourage their creation. The American Academy of Arts and Letters, for example, requires a self-portrait, in any media, as a requirement for all new academicians.

The earliest medallic self-portrait, it is rumored, may have been the inventor of the screw press, Italian Donato Bramante (1444-1514). An architect, he may have been talented enough to design his own image, but he had dies made and he struck lead seals of his image with his new invention.

Other early artists of medallic interest, notably Leonardo da Vinci and Albert Durer, created their own self-portraits as drawings, later reproduced in medallic form by admiring medallists. The first medal in their Vincent van Gogh Medal Series, the Franklin Mint showed the Dutch painter before an easel bearing his self-portrait. No medallist of any nationality, however, has matched Rembrandt who, in his lifetime, painted sixty self-portraits and created an additional twenty engravings of himself.

American artists' self-portraits. There are three candidates for the first American engraver to create his own self-portrait. These are John Stanton on his own Cincinnati Storecard (OH 165FX-11a), Joseph H. Merriam on his Storecard (Storer 574) – both of the Civil War period – or John A. Bolen on his Liberty Cap Storecard (Muscante JAB-9) dated 1864 that was used on three other cards the following year.

Like these three engravers Charles Stubenrauch hand engraved his portrait as medalist in 1876 (Pfefferkorn 13, 20). But the biggest 19th century ego must go to John Sartain (1808-1897), a British-American engraver who created a cottage industry in Philadelphia of creating and selkling engraved prints, for placing his self-portrait on the high-relief three-inch he engraved in1888 for the Monument Cemetery 50th Anniversary Medal.

Two medallic artists created their own self-portrait as members of numismatic organizations. Jonathan M. Swanson was the official medallist for the New York Numismatic Club, but also its president beginning in 1925 thus placing his self-portrait in the club's presidential medal series (MAco 19-5-8). Likewise for the Rochester Numismatic Association Presidential Medal Series, Alphonse A. Kolb had to create his self-portrait medal in 1931.

Some artists recycle their self-portrait in a later medal. Victor David Brenner created his own portrait in 1897 (in easel shape). The following year he made this design into his calling card. For the centennial of Brenner's 1871 birth this self-portrait was reproduced on a centennial plaquette struck by Medallic Art Company (MAco 71-34), it was issued by Presidential Art Medals. Nearly a century after Brenner created his self-portrait, contemporary art medallist E. Bud Wertheim created his self-portrait (1991), but recycled it in Latin motif as the EBvdvsMedalvs Portrait Art Medal for a F.I..D.E.M. exhibition in 1996.

Not many women create their own medallic self-portraits. However Charlotte Dunwiddie, a National Sculpture Society member, created a relief as her self-portrait in 1969. Earlier, Elizabeth S. Leland did a relief of herself in 1964, exhibited it at a NSS exhibition the following year, but not much was heard of her afterwards.

The most dramatic self-portraits are those in which the artist blends their portrait into the subject of the medal. Alex Shagin cast himself as the Ancient Coin Designer in a Tribute Art Medal of 1989. Richard McDermott Miller included his portrait in a medal for the Brookgreen Gardens Membership Series, titled Working On Wind On The Water as the 1999 medal in the series.

Many other 20th century self-portrait medals could be enumerated here. Richard Frazier called himself Artist As A Middleaged Man for his self-portrait medal, 1972. In a rare example of 20th century hand engraving, H. Alvin Sharpe prepared his self-portrait medal in 1979 and bound this in a book of his poetry published that year. But the most charming, perhaps, is not a full fledged portrait at all, but in 1933 Carl Paul Jennewein added a tiny cartoon self-portrait to his signature on his Society of Medalist Issue Number 7.

To read the complete entry on the Newman Numismatic Portal, see:
Self-Portrait (https://nnp.wustl.edu/library/dictionarydetail/516726)

MORE ON LOYE L. LAUDER

Last week Craig Sholley and Wayne Homren remarked that they were not familiar with Loye Lauder. I became aware of her in 1983 when her collection was put up for sale. The auction house, William Doyle Galleries was not known for numismatic auctions. The sale was promoted through Penny-Wise, the journal of the Early American Coppers Club (EAC). The large cents were catalogued by C. Douglas Smith, a well-respected member of EAC.

The 1915 New York Census listed her as Loyetta Lark. Her maternal grandmother was Loyetta Elizabeth Tressler (1848-1928). By the 1920 Census, she was listed as Loye E. Lark and Loyetta was never heard from again.

In the sale, lot 233 sold for $40,000. This was the 1792 silver-center cent, graded AU-55 at the time. This was subsequently owned by Alan Weinberg, and more recently by Robert Rodriguez. The previous sale had been by S. H. and H. Chapman in 1895. It is unknown how Lauder acquired the coin.

There are very few names of women in the pedigrees for 1792 pattern coins. Loye Lauder had a complete five-coin type set of the 1792 patterns including a Birch Cent, silver-center-cent, small cent without silver center, half disme and disme.

Her Birch Cent was only graded Fair 2, the lowest grade among the three varieties of Birch cent. However, it is the only piece to come up for auction during the time she was collecting.

This was reported in a 2018 Heritage auction catalog: "Loye Lauder was a mysterious figure, who shunned publicity and kept her collecting activities very low key."

I would have a different interpretation. She was involved in social service activities as chairman of volunteer workers of the Bergen Chapter of the American Red Cross and official of the Hackensack Hospital Auxiliary.

Let me tell you a story about the mysterious woman. As Loye Lark, she married Allison Laytham in 1941. Laytham had an old 95-foot boat named All Alone. He also had a 60-foot fishing boat kept in Florida. A February 2, 1950, article in The (Passaic) Herald-News shows Mr. & Mrs. Allison Laytham shunning publicity on the yacht All Alone in Palm Beach, Florida.

Perhaps the couple found the quarters too cramped or perhaps the yacht reflected poorly on their status in society. Whatever the reason. Laytham commissioned another ship. He took sixteen trips to Europe to oversee the construction.

The Vedersein was designed by Geerd N. Hendel and built by Abeking & Rasmossen in Germany. It was 110 feet long with a beam of 19 feet. It was described as the largest wood-hull boat built in the past 26 years and was christened in June 1955. The crew, at various times, included five, six, or seven to keep it going. At Fort Meyers, the ship was too long to fit in the marina. She carried a tender for those necessary trips to and from a dock.

The finest of furnishings included a wood-burning fireplace. Every wooden ship should have one, what could possibly go wrong? A photo in the April 14, 1956, issue of The Miami Herald shows Mrs. Allison Laythan sitting in the salon near the fireplace.

The ship may have gotten more publicity than Mrs. Laytham. The ship was mentioned in the papers when it came into port along with frequent photos. Mention of the Laythams as owners may have been incidental.

Allison Laytham was only able to enjoy the ship for a little over a year until his death, without a will, on November 12, 1956. His wife, Loye, then became the owner. There was an interesting item in The Miami Herald on November 19, 1956: "annually they've docked their huge yacht Vedersein, out of Patterson, N.J., at the Flamingo where a friend, George Lauder III of Greenwich, docks his yacht nearby."

There is another story that might be told about Loye. She was remarried to George Lauder III (1910-1986) of Greenwich, Connecticut, on August 10, 1957. He was the treasurer of the Laytham Foundry and a collector of antique boats. He had conveniently been divorced from his first wife in July of 1957. That triggers my imagination for a story I cannot confirm. After the death of Loye in 1964, George Lauder was promoted from treasurer to president of the Laytham Foundry.

Loye Lark Laytham Lauder sold the ship in February 1961 to J. Larry Green who was from Lichtenstein. He took the ship to southern France. In recent years the ship has been named Sans Souci. It has some modern features but has been restored as much as possible to original condition. It was last offered for sale in 2022 with an asking price of $5.6 million. I might like to have this as one of my association items but I don't have room to store it.

Loye L. Lauder began the serious collection of coins after the death of her first husband, Allison Laytham. It certainly was not true that she shunned publicity, It is true that she avoided publicity as she formed her collection. As a wealthy widow, she probably made purchases through a trusted dealer.

An infusion of money into a narrow collecting field can cause prices to rise. For this reason and general security concerns, she may have chosen to be an anonymous collector.

George Lauder III was still living when his wife's collection was consigned for sale. Lot 345 was a 1796 cent, S-104, described as coming from the (Stack's) 1960 Holmes sale. This is the only coin I saw with a source listed. Perhaps other accession records were unavailable.

Next week: who was her dealer?

To read the earlier E-Sylum article, see:
LOYE L. LAUDER (1911-1964) (https://www.coinbooks.org/v29/esylum_v29n03a20.html)

BIDDING AT THE LOYE L. LAUDER SALE

Alan Weinberg writes:

To see the Terranova annotated Loye sale catalog on NNP, see:
A Collection of Early United State and U.S. Colonial Coins, formed by Loye L. Lauder, Greenwich, Connecticut (https://archive.org/details/terranovalauder)
A Collection of Early United State and U.S. Colonial Coins, formed by Loye L. Lauder, Greenwich, Connecticut (https://nnp.wustl.edu/library/auctionlots?AucCoId=513061&AuctionId=529329)

To read the earlier E-Sylum article, see:
LOYE L. LAUDER (1911-1964) (https://www.coinbooks.org/v29/esylum_v29n03a20.html)

 

TREASURE TALK WITH BOB EVANS, EPISODE 11

In addition to their money, there were other signs of the wealthy society that once walked the decks of the Central America. Gold was money, but gold was also adornment, what we in the 21st century would call "bling."

In 1989, when I first settled into the messy process of searching the dredge tailings, collecting the coins and concentrating the gold dust, I also saw evidence of jewelry. It often came as individual links of gold chain, mixed in with the gold dust. Some of these little bits still reside within the various encapsulated "pinches" of gold dust from the SSCA. I see it every now and then when I examine one in detail. Then one night, an astonishingly beautiful and mysterious ring appeared, set with multiple stones, and glimmering in the ship's bright deck lights as I held it up to examine. I recall that my quiet comment was an awestruck, "Wow!"

I wrote a message to our history department, Judy Conrad and our staff back at the home office in Columbus, describing a gold ring set (in succession) with a diamond, a pale ruby (possibly rose quartz,) an amethyst, a garnet, an emerald, and a missing stone. What was this assortment of stones? Was this a mother's ring, with the birthstones of her children? That was my best guess.

I believe we would fax messages to the Home Office once each day. Communications were different back then. Judy wrote back, rather quickly I recall, maybe only a day or two after my discovery of the jewels in the muck. "Could it be a REGARD ring?" she asked. A pre-engagement token of affection, a "friendship" ring if you will, a love charm from the mid-19th century.

Of course! That's what it is! I was elated. The gold always delights, but gold coins are money, historically a medium of exchange. This ring spoke about other cultural practices, men and women and courtship. I often talk and write about how the treasure has stories to tell. Lawyers are familiar with a Latin phrase that scientists should use as well, "Res ipsa loquitur." The thing speaks for itself. Receiving this message from the historians, I felt like the treasure was shouting.

Our prime business objective for finding the shipwreck and the treasure was to recover the commercial shipment. With the amount of money we were spending, there wasn't any wasted time. Almost all our landings on the seabed were adjacent to the big treasure pile. We established a "science station" nearby, which we could visit to tend experiments and observe and collect biology without spending an hour getting there. But, as you can appreciate, our main activity was picking up gold and trying to figure out how to do it most efficiently, balancing that with the care needed to not damage coins potentially worth $20 thousand apiece.

The debris field held many fascinations, some objects we could understand and some we couldn't. Things look different after 13 decades under the sea. We knew there was gold in the debris field, but we didn't explore extensively to locate widely dispersed gold. We continued to work on our prime objective, the multi-ton deposit at the stern of the shipwreck.

There was one concentration of coins sitting in the portside debris field that was clearly visible. It sat in an area that looked to be swept clean of sediment, a bare patch of sediment with a few dozen coins on top. The coins appeared to be the same size; we assumed double eagles. Sitting beside the coins was a chain. Its well-preserved condition suggested that it was gold, undoubtedly more jewelry.

We found this first "coin pile" during early photographic surveys, and we descended for a close look, but never landed to recover anything. All of this we left for a later date, thinking that we could always come back to recover the pile. So, we left it as an "Ace in the hole." It was there if we ever needed it. Meanwhile, we continued working on the much larger commercial shipment, where thousands of coins remained, then hundreds. We knew that at some point the commercial shipment deposit would be depleted, and we would then turn our attention to the passenger gold.

At the end of 1991, we hadn't finished recovering all the commercial gold shipment, and so we had not taken the time to recover the little pile of double eagles out in the debris field either. In 1992, the ruling from Federal District Court in Norfolk granting us ownership based on Finders' Law was overturned on appeal. The Circuit Court ruled (2 to 1) that Salvage Law should apply in our case rather than The Law of Finds, and the case was sent back to District Court and Judge Kellam for a second trial. (See Treasure Talk Episode 4, Parts 1 & 2.) The resulting legal entanglements coupled with other business complexities ushered in over two decades of human and robot inactivity on the S.S Central America shipwreck site.

I didn't get back to the site for 22 ½ years. Many things had changed. Tommy Thompson was out of the picture, except as the subject of a manhunt by U.S. Marshals. The court had appointed a Receiver, Ira Kane, who in turn had hired me to resume my role as the Chief Scientist and Historian of the Project. I went back to the site with a new colleague, Craig Mullen, now serving as the Receiver's Director of Marine Operations, and a new set of crewmates from our contractor, Odyssey Marine Exploration. No one else remained from the early expeditions. I held all the "corporate memory" of the shipwreck site and what we had done there. Ira Kane, referred to me as the "Last Man Standing."

Indeed, I was still standing, and I enjoyed a sudden flood of new information. The passage of two decades had brought wonderful advances in technology, particularly in areas of digital photography, video, navigation, and user comment logging, and the integration of all these systems. As well, whereas 1990 Nemo had the thrusting horsepower of a garden tractor pushing 6 Tons of machinery through water, 2014 Zeus (Odyssey's ROV) had more like the force of a sports car, and it could travel around the shipwreck independent from the motions of the ship it was tethered to by a mile and a half of cable. That's an oversimplification of an enormously complicated subject: simultaneous surface versus deep-sea navigation. The important part here is that there had been huge advances, in the total power of the ROV, and in the world of computer controls and systems integration.

Within two weeks a digital photomosaic survey with excellent spatial control had revealed another couple dozen coin pile locations, both confirmed and probable. The one we knew about from the late 1980s was designated as "Coin Pile #1," and it became convention to call places where we found at least two coins a "coin pile." Once Odyssey had established a convention, it was hard to change, since we were operating 24/7, and it was more important to capture the data than to have it logically named, or to change the classifications. So, many spots within the 5-meter-wide commercial shipment deposit received designations as separate coin piles, although their starting positions before the shipwreck collapse had become difficult to discern, the boxes or bags as originally arranged within the strong room. In my mind, the commercial shipment started out as one deposit, then split into two huge "coin piles" as the shipwreck's stern folded open during collapse.

Once the "coin pile" moniker had been established, Odyssey also designated some "Ingot Piles" and "Nugget Piles." None of these rose to the anthropological significance of the coin piles in the port side debris field. Here we found the money of the wealthy street, in some cases concentrated into a literal pile.

Some of these deposits were coins only, just the money. But, more frequently we found suites with all kinds of valuables. In the final minutes, as the Central America was about to sink, the stern section was swamped first, and the men crowded onto to foredeck with the final possessions they were trying to save, their money, their jewelry, and their photographs. Most cast their heavy bags and gold-stuffed belts on the deck, some pouring out gold dust, as I mentioned in last month's episode. These bags perched on deck as the ship spiraled upright to the bottom during a half-hour descent, impacting the seabed with enough force to explode the decks and boilers up and over to the port side, and propel the passengers' bags into a broad area, now comprising the portside debris field.

So, there are "coin piles" where we found mostly coins, perhaps with one or two pieces of jewelry, like Coin Pile #1 that we first saw in ‘88. There were also coin piles that had flashy numbers of small gold coins, beckoning us into an array of jewelry, large gold nuggets, and photographic cases, as well as the coins. Coin Pile #2 was like that. I'm currently working with a colleague on research about what the constituent coins in these coin piles tell us.

To read the complete article, see:
Treasure Talk: Episode 11 – Chaos and Opulence (https://finestknown.com/treasure-talk-episode-11-chaos-and-opulence/)

For the complete series, see:
Category Archives: Treasure Talk with Bob Evans (https://finestknown.com/treasure-talk-with-bob-evans/)

To read the earlier E-Sylum article, see:
TREASURE TALK WITH BOB EVANS, EPISODE 1 (https://www.coinbooks.org/v28/esylum_v28n12a12.html)
TREASURE TALK WITH BOB EVANS, EPISODE 2.1 (https://www.coinbooks.org/v28/esylum_v28n13a17.html)
TREASURE TALK WITH BOB EVANS, EPISODE 2.2 (https://www.coinbooks.org/v28/esylum_v28n14a15.html)
TREASURE TALK WITH BOB EVANS, EPISODE 3.1 (https://www.coinbooks.org/v28/esylum_v28n15a16.html)
TREASURE TALK WITH BOB EVANS, EPISODE 3.2 (https://www.coinbooks.org/v28/esylum_v28n17a16.html)
TREASURE TALK WITH BOB EVANS, EPISODE 4.1 (https://www.coinbooks.org/v28/esylum_v28n18a13.html)
TREASURE TALK WITH BOB EVANS, EPISODE 4.2 (https://www.coinbooks.org/v28/esylum_v28n19a20.html)
TREASURE TALK WITH BOB EVANS, EPISODE 5.1 (https://www.coinbooks.org/v28/esylum_v28n22a13.html)
TREASURE TALK WITH BOB EVANS, EPISODE 5.2 (https://www.coinbooks.org/v28/esylum_v28n23a16.html)
TREASURE TALK WITH BOB EVANS, EPISODE 6.1 (https://www.coinbooks.org/v28/esylum_v28n27a14.html)
TREASURE TALK WITH BOB EVANS, EPISODE 6.2 (https://www.coinbooks.org/v28/esylum_v28n30a21.html)
TREASURE TALK WITH BOB EVANS, EPISODE 7.1 (https://www.coinbooks.org/v28/esylum_v28n32a16.html)
TREASURE TALK WITH BOB EVANS, EPISODE 7.2 (https://www.coinbooks.org/v28/esylum_v28n40a15.html)
TREASURE TALK WITH BOB EVANS, EPISODE 8 (https://www.coinbooks.org/v28/esylum_v28n42a21.html)
TREASURE TALK WITH BOB EVANS, EPISODE 9 (https://www.coinbooks.org/v28/esylum_v28n49a19.html)
TREASURE TALK WITH BOB EVANS, EPISODE 10.1 (https://www.coinbooks.org/v28/esylum_v28n51a17.html)
TREASURE TALK WITH BOB EVANS, EPISODE 10.2 (https://www.coinbooks.org/v29/esylum_v29n01a09.html)

MORE FULBRIGHT SCHOLARS IN NUMISMATICS

After previously writing about Fulbright scholars with numismatic connections, I decided to conduct a follow-up investigation of two other Fulbrighters suggested by Pete Smith: Donald Erlenkotter and John Photinopoulos. Below, I cover a few highlights from sources about them on the Newman Numismatic Portal (NNP), and in The E-Sylum, Smith's American Numismatic Biographies, the Chicago Coin Club Chatter monthly newsletter, the Civil War Token Society website (www.cwtsociety.com), and several other references.

Donald Erlenkotter (Nepal 1994-1995)

Donald Erlenkotter earned a Ph.D. in Management Science from Stanford University in 1970. He was a senior Fulbright scholar at Kathmandu University in 1994-1995. His teaching and research centered on how mathematical models can be applied in making managerial decisions. He worked as an associate dean and chairman for academic affairs in the UCLA Anderson School of Management. He held appointments with the European Institute for Advanced Studies in Management and other agencies. ("DONALD ERLENKOTTER (1938-2024)," in The E-Sylum, February 4, 2024, vol. 27, no. 5, article 7; references to a UCLA website).

Erlenkotter served as editor and past president of the Civil War Token Society (CWTS). The winner of six literary awards and two service awards, Donald was a frequent contributor to the CWTS quarterly journal. He became publisher of the CWTS journal in 2010. He was elected to the Civil War Token Society Hall of Fame in 2012. (CWTS Hall of Fame: Donald Erlenkotter (http://cwtsociety.com/hallof fame.shtml); The E-Sylum, February 4, 2024, vol. 27).

Nick John Photinopoulos (Fulbright location: U.S.A. 1964)

Nick John Photinopoulos, M.D., studied at the University of Chicago Dermatology Section of the Department of Medicine on a Fulbright scholarship from Greece. He was also an expert in ancient Greek coins. On March 11, 1964, he gave a presentation at a meeting of the Chicago Coin Club on the "History of the Greek Kingdom of Bactria, Paropemisadia, and India after Alexander the Great." His talk was based on his collection of Greek and bilingual coins. To illustrate his points and engage his audience, Photinopoulos used a slide show. The meeting took place at eight p.m. in the Plaza Room of the Pick Congress Hotel. A five-dollar gold piece was given away as a door prize! (The Chicago Coin Club Chatter, January 8, 1964, vol. 19, no. 7).

Donald's stint in Kathmandu and John's lecture title reminded me of when I spent nine weeks traveling through India with three friends during the summer of 1986. At one point in our journey, we decided to split up and explore different places before meeting back in New Dehli for our return flight to New York. My friends Jim and David flew off to Kathmandu for a few days. Gordon and I took a train to Calcutta. We were young and adventurous!

I read that Erlenkotter had Alzheimer's during the latter part of his life. May this article honor the vibrant life that he lived!

Acknowledgements: Special thanks to Pete Smith, E-Sylum Feature Writer, for suggesting that I include Erlenkotter and Photinopoulos in my research.

To read the earlier E-Sylum articles, see:
DONALD ERLENKOTTER (1938-2024) (https://www.coinbooks.org/v27/esylum_v27n05a07.html)
FULBRIGHT SCHOLARS IN NUMISMATICS (https://www.coinbooks.org/v28/esylum_v28n37a15.html)
MORE FULBRIGHT SCHOLARS IN NUMISMATICS (https://www.coinbooks.org/v28/esylum_v28n38a14.html)

 

WAYNE'S NUMISMATIC DIARY: JANUARY 25, 2026

On Tuesday January 20, 2026 I found myself working at an office here in Northern Virginia. Finishing my meetings a bit early I was able to stop at the post office in McLean to ship a book I sold from my library to a researcher in Oklahoma who'd been looking for a copy and found my earlier E-Sylum post about it.

Next I headed over to the Not Your Average Joe's restaurant in Reston. Lorne Lavertu was our host. Being super early I was the first to arrive for a change, and grabbed a seat at the bar. I ordered a drink and appetizer and was soon joined by Mike Markowitz. We didn't have much time to talk, but I learned about the January meeting of the Ancient Numismatic Society of Washington, DC and a talk by Dr. Jason Forsyth, the Curator of James Madison University's Sawhill Collection of Ancient Greek and Roman Coins and Antiquities. I was unaware of that collection, and so was JMU before it was rediscovered recently. Sawhill had been a heavy purchaser of Roman Republic coins from the John Adams collection.

It wasn't long before we were seated at our table. Many of us kept our coats on because the restaurant's heating system was operating at half capacity. We didn't much care and had a fun time chatting coins and any other topic that came to mind. Here are some photos I took. Mine's the empty chair between Jon and Daryl.

Some handsome bibliophiles catching up on their reading.

Clockwise from left: Erik Douglas, Jon Radel, Julian Leidman, Roger Burdette, Mike Packard, Mike Markowitz, Chris Neuzil, and our host Lorne Lavertu with his back to the camera.

Wayne's Books
Normally we have more coins and other numismatic items circulating around the table, but with this subset of our group it was mostly books and other literature. I brought my copy of Mike Packard's new book on the Massachusetts coppers and he kindly inscribed it to me. I also had a copy of the new edition of Steve Starlust's book on medals, badges and souvenirs of the World's Columbian Exposition. Look for more information in am upcoming issue.

I also brought along a new purchase - Elizabeth Harris' 1991 Bird & Bull Press publication on The Art of Medal Engraving, number 97 of 230 copies.

More Books
Also seen was this nicely organized binder of banknotes nominated for the International Bank Note Society's 2025 awards. More below from Jon Radel. Other publications included The Florentine Florin, the January 2026 issue of Penny-Wise, and the Autumn 2025 issue of The Medal - the latter courtesy of Jon Radel.

Jon writes:

More Cameos

Here Daryl Haynor reads a draft of a new article by Roger Burdette with Julian Leidman in the background. Next, Julian reviews a couple slabbed coins.

Banknote of the Year Candidates for 2025
Jon followed up with these better images of selected binder pages. Thanks. He reported that eBay is a good source for individual notes.

For more information, see:
IBNS Banknote of the Year (https://www.theibns.org/joomla/index.php?option=com_content&view=article&id=138&Itemid=51)

There was a lot of both numismatic and non-numismatic conversation, with some crossover contemporary comments such as "Was Greenland nominated?" and regarding requested secrecy about an unpublished research paper, "Is it Epstein-related?" Topics at my end of the table included research assistance and roadblocks Chris encountered while working on his book on post-Comitia Americana Congressional medals, problems searching the Newman Numismatic Portal, using AI to transcribe handwriting and translate it from French, the FUN Show, and the silver market.

It was a cold but quite enjoyable evening with great company and numismatic fellowship. 'Till next time.

To read the earlier E-Sylum articles, see:
NEW BOOK: REFERENCING COLUMBIANA (https://www.coinbooks.org/v28/esylum_v28n10a04.html)
NEW BOOK: CENTS AND HALF CENTS OF MASSACHUSETTS (https://www.coinbooks.org/v28/esylum_v28n41a04.html)

NUMISMAGRAM MEDAL SELECTIONS: JANUARY 25, 2026

103404 | GREAT BRITAIN. Farnborough Balloon School Royal Engineers silvered copper Medal. Issued circa 1907 (32mm, 11h). By Arthur Fenwick in Birmingham.

• H • M • EDWARD • VII • KING • H • M • ALEXANDRA • QUEEN / PROCLAIMED 1901, crowned and mantled jugate busts of Edward and Alexandra left // BALLOON SCHOOL ROYAL ENGINEERS, dirigible Nulli Secundus (British Army Dirigible No 1) flying left above townscape.

BHM 3697; Eimer –; Joos 1.260; Button –; Fearon 358.4. PCGS MS-62. Lustrous and highly brilliant, with some alluring iridescence spread throughout.

Though the obverse is clearly meant for the proclaiming of Edward VII and Alexandra as the reigning monarchs following the death of Queen Victoria in 1901, the reverse commemorates the Balloon School Royal Engineers, who were not formed until 1907. As such, it would appear that Fenwick paired this reverse with an earlier type with no real connection. Nevertheless, an early and very interesting British aviation-related type that has a tie-in to the coronation of the sovereign.

To read the complete item description, see:
103404 | GREAT BRITAIN. Farnborough Balloon School Royal Engineers silvered copper Medal. (https://www.numismagram.com/product-page/103404)

103333 | BELGIUM & NETHERLANDS. Télégraphie sans fil bronze Plaque. Issued 1912 (52mm x 66mm, 85.62 g, 12h). By Eugène Jean de Bremaecker for the Société hollando-belge des amis de la médaille (Belgo-Dutch Society of the Friends of Medallic Art), and struck by Fisch.

Female figure, wearing sheer drapery, seated right atop telegraph lines and raising both hands to head—one to hear and one to shout; rising sun and smokestacks on the horizon at a distance // Torch garlanded to palm frond and laurel branches; above and around, "A LA GLOIRE / DE LA TELEGRAPHIE SANS FIL / A SES GENIES / CLERK MAXWELL / HERTZ / BRANLY / POPOFF / SIR OLIVER LODGE / MARCONI / BRAUN - A SES HEROS / JACK BINNS / SS. REPUBLIC - 1908 / ECCLES / +SS. OHIO - 1908 / PHILIPS / +SS. TITANIC - 1912 / HAROLD BRIDE / SS. TITANIC - 1912". Edge: Plain.

Médailles Historiques de Belgiques III, p. 226. Mintage: 302. Gem Mint State. Extremely glossy and lustrous.

Following the proof of the existence of electromagnetic waves by German physicist Heinrich Hertz in 1887, a flurry of other scientific minds turned to a new medium for study—the "airwaves." Guglielmo Marconi's invention of the radio, for which he won the 1909 Nobel Prize in Physics, furthered what would become a rapidly growing industry during the first three decades of the 20th century, as communication now need not be reliant upon the connection of wires. Here, de Bremaecker captures this novel technology and pairs it with wondrous Beaux-Arts flair.

That said, reviews of his design were rather mixed locally in Belgium upon its release, with Médailles Historiques de Belgiques III mentioning that "...'La télégraphie sans fil', exécutée par M. DeBremaecker pour la Société hollandaise-belge des Amis de la Médaille d'art, est intéressante; ce qui le plouve, c'est qu'elle a suscité des opinions contradictoires. Chacun a pu se former à son sujet une manière de voir" ('La télégraphie sans fil,' executed by Mr. DeBremaecker for the Dutch-Belgian Society of Friends of the Art Medal, is interesting; proof of this is that it has aroused contradictory opinions. Everyone has been able to form their own opinion about it).

It is difficult to find fault with the obverse iconography, as it is quite sublime and full of action. Traditional attributions describe the obverse figure upon a telegraph line, which would make sense. However, the lines don't exactly have that appearance. Instead, given the presence of water below and the fact that wireless telegraphy had a very important early role in the shipping world, one must ask if, in fact, the figure is seated at the top of a ship's rigging. In that case, the female figure would be a personification of wireless telegraphy itself, shouting information and signals to others, all while also receiving said information and signals. Furthermore, the reverse mentions numerous individuals involved in naval distresses and their subsequent use of wireless telegraphy. However, one fault would be that Bremaecker did get numerous dates and titles incorrect (such as the SS Republic and Titanic, which should have been RMS, the sinking of the SS Ohio as 1908, which should have been 1909, and the naming of [Jack] Philips, which should have been Phillips.

The Société hollando-belge des amis de la médaille d'art, similar to American series such as the Circle of Friends of the Medallion, the Society of Medalists, and even the still-active Brookgreen Gardens issues, was an annual series of medallic art, each featuring different designs and themes by some of the most acclaimed sculptors and engravers in Belgium and the Netherlands. The series produced numerous medals from 1901-1920, eventually becoming Les amis de la médaille d'art, active from 1920-1959.

To read the complete item description, see:
103333 | BELGIUM & NETHERLANDS. Télégraphie sans fil bronze Plaque. (https://www.numismagram.com/product-page/103333)

103345 | UNITED STATES & FRANCE. Sinking of the Lusitania Bronze Medal. Issued circa 1920. The Sinking of the RMS Lusitania (54mm, 12h). By René Baudichon at the Paris mint.

VLTRIX AMERICA JVRIS (America, the defender of the just) / 1917 USA 1918, upper part of the Statue of Liberty rising from the Atlantic Ocean, holding sword in place of torch // LVSITANIA MAY 7 1915, stern of the Lusitania above the ocean, in the process of sinking; capsized lifeboat in foreground; above, vignette containing a drowning child.

Jones, The Dance of Death, 27; The Art of Devastation, p. 310, 99. PCGS MS-64. Even red-brown surfaces, with some alluring brilliance spread throughout. A powerful and historically interesting piece relating to America's build up to World War I.

Not long after the German warning against sea travel into her 'war zone' declared upon Great Britain, a popular liner—the RMS Lusitania—was torpedoed 11 miles off the coast of Ireland, where over 60% of her passengers, some of whom were American, were killed. Serving as a rallying cry against the German Empire, this action solidified the U.S. involvement in World War I.

To read the complete item description, see:
103345 | UNITED STATES & FRANCE. Sinking of the Lusitania Bronze Medal. (https://www.numismagram.com/product-page/103345)

103412 | GERMANY. Martin Luther cast bronze Medal. Issued Dated 1924 for the 400th anniversary of the Reformation in Jena (68mm, 131.09 g, 12h). By Karl Goetz at the München mint.

DOKTOR + MARTIN + LVTHER, robed bust facing slightly right, wearing biretta // REFORMATIONS JVBILÄVM JENA, Martin Luther standing right, holding Bible and clasping right hands with Johann Friedrich I of Sachsen (Saxony), holding sword and standing slightly left; in background, Christ crucified upon the cross. Edge: Plain.

Kienast 322; Whiting 875; Opitz 3880; Brozatus 1554; Schnell 383. Choice Mint State. Pleasing brown surfaces, with some lighter hues upon the higher points.

Celebrated each century on the anniversaries of the Protestant Reformation which he helped to bring about, Martin Luther was also celebrated in 1924 on account of the 400th anniversary of the Reformation in Jena.

To read the complete item description, see:
103412 | GERMANY. Martin Luther cast bronze Medal. (https://www.numismagram.com/product-page/103412)

103388 | UNITED STATES & MEXICO. Return of El Chamizal silver Medal. Issued 1963. Commemorating the talks to end the dispute (50mm, 12h). By Baron [Central de Numismática y Medalistica] in Mexico City.

JUSTICIA REVOLUCIONARIA DE PUEBLOS AMIGOS, facing statue of Benito Juárez, seated and with scroll; to left and right, heads of presidents Adolfo López Mateos and John F. Kennedy facing one another // RECUPERACION DEL TERRITORIO DEL CHAMIZAL, Mexican and American flags crossed in saltire; above, stylized outline of the Chamizal territory and compass.

Rice K-63-5A; Grove 828a. PCGS SP-63. Highly brilliant and lustrous, with some deeper amber and cobalt toning nearer the peripheries.

The Treaty of Guadalupe Hidalgo formally ended the Mexican-American War in 1848 and established the border between the two nations. For a portion of this border, the path of the Rio Grande (known as the Río Bravo del Norte in Mexico) served as the point of demarcation. Floods, however, caused the pathway to vary over the years, with a section between El Paso (Texas) and Ciudad Juárez (Chihuahua) shifting south, essentially yielding additional territory to the United States. This area, becoming known as "El Chamizal" on account of the type of saltbush that grew on the plain, was subsequently disputed by both countries, with the U.S. claiming and settling it as an extension of El Paso. A talk was planned in 1909 between then-presidents William Howard Taft and Porfirio Díaz, but the foiling of a would-be assassination attempt on both leaders scuttled the summit. The matter was settled in principal in August 1963 by John F. Kennedy and his counterpart, Adolfo López Mateos, though it was not ultimately formalized until the following year between the latter and Lyndon B. Johnson, Kennedy having been assassinated in Dallas in November 1963.

To read the complete item description, see:
103388 | UNITED STATES & MEXICO. Return of El Chamizal silver Medal. (https://www.numismagram.com/product-page/103388)

STACK'S BOWERS: DEAN OAKES FAMILY COLLECTION

1793 Liberty Cap Half Cent. Head Left. C-2. Rarity-3. EF-40 (PCGS). The 1793 half cent is significant as the first United States half cent, the only issue of the Liberty Cap, Head Left design type and one of just two denominations struck during the Mint's first full year of coinage operations (the other is the large cent). Henry Voigt engraved the dies, and by mid-May the Mint had already prepared more than 30,000 planchets for the half cents, including having their edges lettered. All of the planchets were made from sheet copper. Actual coinage did not commence until July 19, however, with production on that date probably accounting for most or all of the 7,000 examples delivered to the treasurer the following day. The remaining 24,934 half cents were struck from July 23 to 25 and delivered on July 26, for a total mintage of 31,934 pieces for the 1793 Liberty Cap issue. The oft-published mintage of 35,334 pieces for this issue includes an additional 3,400 coins delivered with the Liberty Cap cents on September 18, 1793, that William R. Eckberg (The Half Cent, 1793-1857: The Story of America's Greatest Little Coin, 2019) believes were actually cents based on the records of Mint Treasurer Tristram Dalton. When half cent coinage resumed in 1794, the denomination featured a modified Liberty Cap design by Robert Scot with the portrait facing to the right.

Given its current popularity, it may be surprising that the 1793 half cent seems to have been generally overlooked by contemporary collectors. No notable high grade pieces appeared from English or other European sources in the 20th century, suggesting that few, if any, Mint State examples were set aside by numismatists and others who visited the early United States. It was not until the 1850s that numismatics as a hobby began to gain widespread popularity in the United States, and the earliest known interest in the 1793 half cent as a valuable collectible dates to that decade. In 1855 collector Winslow Howard purchased a lot of two examples in the Pierre Flandin sale, one of the first major numismatic auctions held in the United States. Mr. Howard paid $7 for his two 1793 half cents, a sizable sum, especially since half cents could still be found in commerce during the 1850s, at least in major Eastern cities like Philadelphia and New York. It is almost certainly the retrieval of coins from circulation during the decade preceding the Civil War that accounts for the majority of 1793 half cents known today, a theory that squares nicely with an extant population comprised almost exclusively of worn coins.

The exact number of Mint State 1793 half cents extant is a matter of debate, although it certainly represents an infinitesimal proportion of all survivors. Given their undeniable rarity, the best that most collectors can hope to acquire for this issue is an AU, although the sharp-eyed bidder will recognize this premium EF-40 as conservatively graded and difficult to improve upon in a lightly circulated example.

To read the complete item description, see:
1793 Liberty Cap Half Cent. Head Left. C-2. Rarity-3. EF-40 (PCGS). (https://auctions.stacksbowers.com/lots/view/3-1PHH98/1793-liberty-cap-half-cent-head-left-c-2-rarity-3-ef-40-pcgs)

1796 Liberty Cap Half Cent. C-2. Rarity-4+. With Pole. VF-30 (PCGS). With only 140 or so coins extant in all grades (per Bill Eckberg, 2019), the 1796 is the rarest date in the entire half cent series of 1793 to 1857. Most survivors are from the C-2 dies, as here, examples of which have been honored rarities ever since numismatics became widely popular in the 1850s. Since then the appearance of a 1796 has been a special occasion.

Although not as rare as its C-1 No Pole counterpart, the 1796 C-2 is still very scarce. Perhaps surprisingly for such an elusive variety, there are several Mint State coins known, including at least three Gem Red and Brown coins. Beyond the handful of Mint State coins, however, the census for this variety quickly drops to the lowest circulated grades, and individual coins at those levels are usually dark and porous. Our offering of this well defined and handsome PCGS VF-30 example represents an important bidding opportunity.

To read the complete item description, see:
1796 Liberty Cap Half Cent. C-2. Rarity-4+. With Pole. VF-30 (PCGS). (https://auctions.stacksbowers.com/lots/view/3-1PHHBL/1796-liberty-cap-half-cent-c-2-rarity-4-with-pole-vf-30-pcgs)

1793 Flowing Hair Cent. Chain Reverse. S-1, B-1. Rarity-4. AMERI. EF-40 (PCGS). CAC. OGH. The 1793 Chain cents are numismatic Americana at their finest. After pattern coinage in 1792, the first federal coins made for general circulation at the new Mint building in Philadelphia were struck at the end of February 1793 and delivered by the coiner in early March. These were the first large cents, production of which preceded that of half cents by several months. The pieces were put into circulation, with no known numismatic attention paid to them. Indeed, the number of people seriously interested in numismatics in the United States at that time could be counted on the fingers of one hand, and these gentlemen mainly concerned themselves with earlier and classic issues.

The Chain cents are struck in rather low relief, whereas their successors, the Wreath cents, are in dramatic high relief, more so than any other large copper cent issue.

Over the years the cents of 1793 have had special place in the hearts of numismatists. Indeed, the first photographic plate printed in The American Journal of Numismatics in 1869 was a panel of cents of this year gathered from various collections. Ever since numismatics became a widely popular hobby in the late 1850s, the ownership of a 1793 Chain cent has been a badge of distinction. The Sheldon-1 die pairing, offered here, enjoys particularly strong demand not only as the first variety of large cent produced, but also as the only one of the Chain Reverse design with the AMERI. abbreviation in the legend.

To read the complete item 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)

1802 Draped Bust Half Dime. LM-1, V-1. Rarity-5. VG Details--Damage (PCGS). Second only to the 1870-S half dime in desirability for the denomination, the 1802 half dime has captivated numismatists and scholars since the mid to late 19th century. The story of this legendary rarity goes back to the earliest days of the United States Mint. The half dime denomination has the distinction of being the first coin struck by the fledgling United States Mint, and while this achievement was heralded by George Washington as "a small beginning," the coin struggled to find an audience in commerce. Over 86,000 half dimes were produced from late 1794 through 1795, but this would be by far the largest mintage for the denomination in all its earliest years. Yellow fever was an ongoing concern in Philadelphia at the end of the 18th century and it took a toll on the quantity of coins struck as well as their quality. Focus was placed on cents and half dollars, punctuated by a virtually dollars-only policy from 1795 to 1800 to meets the needs of the financial and mercantile communities, all throughout which the half dime was relegated somewhat as an ancillary denomination.

The 1802 half dimes entered circulation unceremoniously and with few - if any - numismatists around to appreciate the rarity of the issue, there they stayed. Through normal wear and meltings (especially after the 1853 reduction in weight standards for silver coins), the number of survivors in change dropped. By the late 1850s, American numismatics had started to take root and in December 1859, the first recorded appearance of an 1802 half dime at auction was made in an Edward Cogan sale. In December 1863, the William A. Lilliendahl Collection specimen sold for $340, an astonishing price for a coin during the depths of the Civil War. By 1883, this issue's scarcity was readily recognized, so much so that Harold P. Newlin devoted nearly a third of his landmark monograph on the series, A Classification of the Early Half Dimes of the United States, to the 1802 half dime. Of this issue, Newlin wrote that, "Upon these facts I base my opinion, that the half-dime of 1802 is the most desirable of the silver series." The Newlin monograph served as the primary reference for half dime collectors until Dr. Daniel W. Valentine's 1931 work, The United States Half Dimes, where this issue is listed as V.1. In 1998, Russell J. Logan and John W. McCloskey published Federal Half Dimes 1792-1837, regarded as the definitive work on the subject.

Ever since Newlin's treatise, the 1802 half dime gained considerable fame. Augustus G. Heaton, one-time president of the American Numismatic Association, referenced the coin as "his 'better half' / The Little 1802" in his 1894 poem, "The Convention of the Thirteen Silver Barons." B. Max Mehl thought so highly of the issue that in his 1947 W.W. Neil sale, he not only allocated a full page for the half dime - something he usually reserved for 1804 dollars - but he also noted that "the 1802 half-dime has always been considered as one of our very rarest of all U.S. silver coins, nearly in the same category as the 1804 dollar." It was not be until the 1978 discovery of an 1870-S half dime that the 1802 faced any competition as the most celebrated issue of the denomination.

Provenance: From the Dean Oakes Family Collection. Earlier from our (Bowers and Merena's) sale of the Walter H. Childs Collection, August 1999, lot 157; our Baltimore Auction of November 2012, lot 3064.

To read the complete item description, see:
1802 Draped Bust Half Dime. LM-1, V-1. Rarity-5. VG Details--Damage (PCGS). (https://auctions.stacksbowers.com/lots/view/3-1PHHST/1802-draped-bust-half-dime-lm-1-v-1-rarity-5-vg-details-damage-pcgs)

1804 Draped Bust Dime. JR-1. Rarity-5. 13 Stars on Reverse. VF-35 (PCGS). The 1804 dime has the lowest mintage for any Draped Bust dime, with 8,625 pieces struck and delivered in June of that year. However, it is widely thought that many of the dimes reported as delivered in September of 1805 were dated 1804. As a result, a more accurate production figure from 1804-dated dies is probably closer to 17,000 pieces as proposed by the authors of the standard work on the subject, Early United States Dimes 1796-1837 (1984). Regardless of the exact mintage for the issue, its rarity is beyond contestation with the authors of the Bust Dime Variety Identification Guide (2015) asserting that only 100 to 125 coins are extant throughout the numismatic grading scale.

Only two die pairings are known, both sharing the same obverse die, with the JR-1 marriage being the slightly more available of the two. In addition to absolute rarity, the 1804 JR-1 is a significant condition rarity that is almost always found in the lowest circulated grades. When one considers that the famed Norweb Collection's example was only VG-F and F.C.C. Boyd never managed to acquire a 13 Stars on Reverse 1804 dime, the acquisition of this Choice Very Fine coin as certified by PCGS would be a signature event for any early dime devotee.

Provenance: From the Dean Oakes Family Collection. Earlier from our (Bowers and Ruddy's) sale of the Garrett Collection for The Johns Hopkins University, Part III, October 1980, lot 1577.

To read the complete item description, see:
1804 Draped Bust Dime. JR-1. Rarity-5. 13 Stars on Reverse. VF-35 (PCGS). (https://auctions.stacksbowers.com/lots/view/3-1PHHUP/1804-draped-bust-dime-jr-1-rarity-5-13-stars-on-reverse-vf-35-pcgs)

1796 Draped Bust Quarter. B-1. Rarity-4+. VF-20 (PCGS). The Draped Bust, Small Eagle design type of 1796 represents the first year of the denomination - the dime of the same general design type also debuted in this year. Only 6,146 examples of this elusive quarter dollar issue were produced. Most of the examples known today are well worn, with many also exhibiting significant impairments such as holes or scratches. Competition is fierce whenever a problem-free and attractive example in a popular collector grade appears at auction, as here.

After this initial coinage of quarter dollars, it wasn't until 1804 that the Mint again received orders for this denomination from contemporary bullion depositors. The Spanish colonial 2 reales remained plentiful in U.S. commerce through at least the end of the 1820s, explaining the limited demand for its U.S. Mint alternative in the quarter dollar. By 1804, when production of this denomination resumed to a limited extent, the Small Eagle reverse had been supplanted by the Heraldic or Large Eagle style. The 1796 quarter is recognized as a rarity, and its status as a one-year design appeals to both early quarter specialists and advanced type collectors.

To read the complete item description, see:
1796 Draped Bust Quarter. B-1. Rarity-4+. VF-20 (PCGS). (https://auctions.stacksbowers.com/lots/view/3-1PHHXN/1796-draped-bust-quarter-b-1-rarity-4-vf-20-pcgs)

1820 Capped Bust Quarter. B-1. Rarity-4. Large 0. MS-64 (PCGS). CAC. The 1820 is the fourth date in the Capped Bust quarter series designed by John Reich. The mintage for that calendar year is 127,444 pieces, although we have no way of knowing whether or not that total corresponds to the mintage from 1820-dated dies. The early United States Mint often used dies randomly and until they broke irretrievably without regard for year of issue, as high quality steel for making dies was in short supply. With five die marriages known and examples among the more available Large Diameter Capped Bust quarters, some 1820-dated examples were likely also included in the reported delivery of 216,851 quarters achieved in 1821.

Provenance: From the Dean Oakes Family Collection. Purchased from A & A Coins, Inc., Iowa City, Iowa, date not recorded.

To read the complete item description, see:
1820 Capped Bust Quarter. B-1. Rarity-4. Large 0. MS-64 (PCGS). CAC. (https://auctions.stacksbowers.com/lots/view/3-1PHHY7/1820-capped-bust-quarter-b-1-rarity-4-large-0-ms-64-pcgs-cac)

1835 Capped Bust Quarter. B-3. Rarity-3. MS-65+ (PCGS). CAC. Although more plentiful than its Large Diameter predecessor of 1815 to 1828, the Reduced Diameter Capped Bust quarter of 1831 to 1838 is still a challenging and underrated design type in the finest Mint State grades The 1835 B-3 die pairing is especially difficult to locate in Uncirculated condition, the 2010 Rea et al. census reporting only two examples at this level graded 60+ and 60 therein. The offered coin from the Dean Oakes Family Collection is a newcomer to the census, and while it may have a rival in the Davis-Graves - Winter coin listed as CC#2 in the Rea et al. census, we believe that it is the finest known example from these dies. It also appears to be the only Mint State 1835 B-3 offered at auction since the aforementioned CC#2 coin sold in our (Stack's) January-February 1974 sale of the Winter Collection; in recent years the best we have handled for this variety is an EF-45. Whether one is a high grade type collector or advanced early quarter variety enthusiast, the significance of this offering can hardly be overstated.

To read the complete item description, see:
1835 Capped Bust Quarter. B-3. Rarity-3. MS-65+ (PCGS). CAC. (https://auctions.stacksbowers.com/lots/view/3-1PHHYO/1835-capped-bust-quarter-b-3-rarity-3-ms-65-pcgs-cac)

1794 Flowing Hair Half Dollar. O-101, T-7. Rarity-3. MS-61 (NGC). While today the half dollar is seldom seen in circulation and offering one up in change will often generate odd looks and questions, it is only relatively recently that this has been the case. Half dollars have traditionally been "workhorse coins intended for use in the channels of commerce," as Q. David Bowers described them. The reduction in the required surety bonds for the chief coiner and the assayer so that production of precious metal coins could commence came late in 1794 and in this first year, 23,464 (or fewer) pieces were made, as opposed to a much larger delivery of 299,680 pieces for calendar year 1795. Mintages plummeted thereafter and remained limited until 1805, as the silver dollar took precedence among bullion depositors in need of a large coin for domestic financial needs and use in the export trade. After the federal government halted production of the latter in 1805, the half dollar quickly established itself as the denomination of choice among silver bullion depositors, a situation that would continue well into the 19th century.

Of the 11 known die marriages of the 1794 half dollar, O-101 is the most frequently encountered. This is not to imply that this is a common variety, for the 1794 as an issue is scarce to rare in all grades, irrespective of die marriage. The first half dollars struck in the United States Mint were 5,300 examples delivered on December 1, 1794. All of these coins are assumed to have been struck from 1794-dated dies. The Guide Book, among other numismatic references, provides a mintage figure of 23,464 pieces for this issue, as above, which assumes that the 18,164 half dollars delivered on February 4, 1795, were also coined from 1794-dated dies. This is conjecture, and we will never know for certain whether the coins delivered on February 4, 1795, were dated 1794, 1795, or both. Based on the number of die marriages known for the 1794-dated issue, as well as the number of coins extant, it is likely that at least some of the coins delivered in early 1795 were from 1794-dated dies. We suspect that the actual mintage for this issue is somewhat less than 23,464 pieces, most of which have long since been lost to commercial use.

Provenance: From the Dean Oakes Family Collection. Earlier ex David Lawrence, October 2003; Eugene H. Gardner; Heritage's sale of the Eugene H. Gardner Collection, June 2014, lot 30463.

To read the complete item description, see:
1794 Flowing Hair Half Dollar. O-101, T-7. Rarity-3. MS-61 (NGC). (https://auctions.stacksbowers.com/lots/view/3-1PHI2B/1794-flowing-hair-half-dollar-o-101-t-7-rarity-3-ms-61-ngc)

1796 Draped Bust Half Dollar. Small Eagle. O-102, T-2. Rarity-5+. 16 Stars. Fine-15 (PCGS). Amato 235. Tompkins Die Stage 3/2. Although composed of coins dated 1796 and 1797, the Draped Bust, Small Eagle half dollar series was issued for just one year. Only 3,918 examples were delivered in four warrants from February 28 to May 26, 1797. Today, probably no more than 300 half dollars of this challenging design type can be accounted for, signifying a survival rate of less than 10%. Subsequent to 1797 no half dollars were minted until 1801, at which time the Heraldic Eagle design was adopted for the reverse. The 1796 O-102 variety is the scarcest in this series with Very Fine representing the median grade among survivors. The present example is included in the extensive census published by Jon P. Amato in his 2012 reference The Draped Bust Half Dollars of 1796-1797, in which it is assigned Coin Serial Number 235. It is a noteworthy rarity that would do equally well in an advanced type collection or specialized early half dollar variety set.

Provenance: From the Dean Oakes Family Collection. Earlier from our (Bowers and Ruddy's) sale of The Garrett Collection for The Johns Hopkins University, Part I, November 1979, lot 275.

To read the complete item description, see:
1796 Draped Bust Half Dollar. Small Eagle. O-102, T-2. Rarity-5+. 16 Stars. Fine-15 (PCGS). (https://auctions.stacksbowers.com/lots/view/3-1PHI3C/1796-draped-bust-half-dollar-small-eagle-o-102-t-2-rarity-5-16-stars-fine-15-pcgs)

1797 Draped Bust Half Dollar. Small Eagle. O-101a, T-1. Rarity-4+. 15 Stars. Fine-15 (PCGS). CAC. Amato 430. Tompkins Die Stage 4/4. The 1797 half dollar is a profoundly enigmatic issue whose intrigue is only overshadowed by its scarcity. Echoing the symbolism portrayed by the flag of the United States, the earliest coins of the United States Mint depicted a star count that tried at best to mirror the number of states belonging to the Union at the time of striking. Fittingly so, the half dollars of 1794 and 1795 display 15 stars on the obverse - a number justified by Kentucky's admission on June 1st 1792. In anticipation of 1796's half dollar mintage, officials prepared a 1796-dated 15-star die for use, though no half dollars were struck in said year. However, by the time mintage resumed in the beginning of 1797, Tennessee had already joined the Union on June 1st of 1796 and a 16-stars motif was appropriate. Never to be wasteful, the Mint employed this wrongly dated and wrongly starred obverse, eventually transitioning to a 1796-dated 16-star obverse by some other combination of misguidance. Then, most curiously, a third die was created to finish out the 1797 half dollar production year; properly dated 1797, though ornamented with just 15 stars on the obverse. Several theories and conjectures have emerged to explain how this blundered regression might have occurred, though whether terribly complex or astoundingly simple, the error in star count for the 1797 Draped Bust half dollar has left numismatic scholars scratching their heads for the past two centuries.

Provenance: From the Dean Oakes Family Collection. Earlier from S.H. Chapman's sale of the Major Richard Lambert Collection, October 1910, lot 269; our (Stack's) sale of the Robison Collection, February 1982, lot 1526; our (Stack's) sale of the Dr. Alfred R. Globus Collection, December 1999, lot 1696.

To read the complete item description, see:
1797 Draped Bust Half Dollar. Small Eagle. O-101a, T-1. Rarity-4+. 15 Stars. Fine-15 (PCGS). CAC. (https://auctions.stacksbowers.com/lots/view/3-1PHI3Q/1797-draped-bust-half-dollar-small-eagle-o-101a-t-1-rarity-4-15-stars-fine-15-pcgs-cac)

1794 Flowing Hair Silver Dollar. BB-1, B-1. Rarity-4. VF-35 (PCGS). BB Die State III. On October 15, 1794, Chief Coiner Henry Voigt delivered 1,758 silver dollars to David Rittenhouse, representing the entire mintage for the year. The Mint's workmen could have struck all of these coins in a single afternoon, using a press ill-suited for the rigors of striking the large diameter dies. Rittenhouse later received $242.50 in half dollars, plus six half dimes, to complete the total initial deposit, but according to traditional numismatic wisdom the original mintage of 1794 dollars amounted to 2,000 coins. Proponents of this theory believe that the remaining 242 examples were judged to be underweight and/or too poorly struck to be released, the coins either remelted or used as planchets for 1795-dated silver dollars. At least one poorly struck 1794 dollar was used as a planchet for a 1795 dollar, but since that coin's discovery in the 1960s, no other examples have come to light. If the original mintage of the 1794 dollar was 2,000 pieces, the remaining 242 or so coins were almost certainly melted. Alternatively, the total mintage might be just 1,758 pieces, the failure of the press under the rigors of striking these large coins ending the day's work prematurely and prompting the chief coiner to make up the balance of Rittenhouse's bullion deposits in half dollars and half dimes, as related above. We will never know for sure because no details were recorded and no ceremony was held, despite the historical significance of the event.

Indeed, even those 1794 dollars that were deemed acceptable for distribution exhibit many of the coining difficulties suffered by the early United States Mint. Virtually all of the known examples are softly struck to one degree or another at the left obverse and reverse borders. This is due not only to the Mint's use of a press that was intended for smaller-size coins, but also because the dies eventually "slipped" and became misaligned in the press. On some 1794 dollars the misalignment is so pronounced that the date can be difficult to discern. Additionally, many examples display adjustment marks that represent the Mint's filing down of overweight planchets to make them conform to the legally specified weight range for this issue. While these adjustment marks are often innocuous, they are sometimes so numerous as to severely compromise one or more elements of a coin's design.

Provenance: From the Dean Oakes Family Collection. Earlier from S.H. and H. Chapman's sale of the Charles Ira Bushnell Collection, June 1882, lot 2434; Lorin G. Parmelee; Byron Reed; Spink America's sale of the Byron Reed Collection for the City of Omaha to Benefit the Western Heritage Museum, October 1996, lot 312; our sale of the Freedom Collection, August 2013 Chicago ANA Auction, lot 4305.

To read the complete item description, see:
1794 Flowing Hair Silver Dollar. BB-1, B-1. Rarity-4. VF-35 (PCGS). (https://auctions.stacksbowers.com/lots/view/3-1PHI60/1794-flowing-hair-silver-dollar-bb-1-b-1-rarity-4-vf-35-pcgs)

1797 Draped Bust Silver Dollar. BB-73, B-1a. Rarity-3. Stars 9x7, Large Letters. AU-55 (PCGS). BB Die State III, Salyards Die State II-III/I. Bowers-Borckardt 73 is the sole die marriage associated with the Stars 9x7, Large Letters Guide Book variety of the 1797 silver dollar, and it is the median scarcity among the three known die pairings of the issue. Plentiful in an absolute sense, at least by early dollar standards, Harry E. Salyards (2022) estimates that 500 to 850 BB-73 dollars are extant in all grades. With most survivors of this die pairing as a whole grading no finer than VF, the conditionally challenging nature of the BB-73 dollar comes to the fore at the EF level. The present example in PCGS AU-55 is a noteworthy condition rarity and among the finest certified available to today's numismatists.

To read the complete item description, see:
1797 Draped Bust Silver Dollar. BB-73, B-1a. Rarity-3. Stars 9x7, Large Letters. AU-55 (PCGS). (https://auctions.stacksbowers.com/lots/view/3-1PHI6T/1797-draped-bust-silver-dollar-bb-73-b-1a-rarity-3-stars-9x7-large-letters-au-55-pcgs)

NOONANS TO SELL THE LITTLEBROOK HOARD

It was 22 years ago when Peter Gray was called by the builders who were working on a new extension to his house, Littlebrook Farm in Belchalwell Street, near Blandford Forum in Dorset, to say that they had discovered a pottery vessel containing 213 coins!

200 of the coins, the majority dating from the reign of Henry VII (1485-1509) will be offered in an auction at Noonans Mayfair (16 Bolton Street) on Tuesday, February 10, 2026. The coins will be sold individually and are expected to fetch in the region of £30,000.

Peter, who is now 79-years old, and a retired international bank inspector is selling the coins because he and his wife Jackie are moving house. He recalled: "The builders were removing the parking area with a mechanical digger when they discovered some terracotta tiles, and when they removed them, they unearthed the pottery vessel. The cottage dates from the 1500/ 1600s and it was a wonderful surprise when I was told about them – you never expect to find a hoard of coins! Who they belonged to, we don't know, but the cottage isn't too far from the Dorset Gap which was a route that linked the South Coast to Dorchester and Salisbury, so it is possible that they were hidden by a smuggler!"

Mr Gray went through the Treasure Trove process, and 13 coins were bought by Dorset Museum. He also bought out the builders, who were eligible to half the proceeds.

As Jim Brown, Coin Specialist at Noonans explains: "The Littlebrook Hoard was originally called the Okeford Fitzpaine Hoard, when it was discovered in May 2004 at the grade 2 listed dwelling. The hoard comprises 213 silver coins, consisting of 176 groats and 37 half groats in varying condition with the bulk dating from the reign of Henry VII (1485-1509). The coins are all English silver issues and of the official sterling silver standard. The fact that the coins were discovered in a container is clear evidence that they were deposited on a single occasion and they represent a selected body of higher value silver coins from the currency of the early sixteenth century, before the new weight standard of 1526 was introduced. The earliest coin recorded was a half groat from the reign of Edward III, dated c. 1351-2, and the latest a half groat issued from York after Wolsey was appointed bishop in 1514. The coins are thought to have been deposited probably c. 1514-1520."

He added: "The pottery jug, which sadly was broken during the lifting, is of simple design with a crimped edge and was confirmed by the British Museum as dating from the late fifteenth century and originating from the Ruhr area of Germany – this is also at the Dorset Museum."

Highlights include five rare coins that all date from the reign of Henry VII:

NEW TRUMP COIN DESIGNS ANNOUNCED

The special President Donald Trump $1 coin - which is being minted to mark the country's 250th birthday - appears to be getting a more classic design, as opposed to the 'fight, fight, fight' imagery originally shared by the Treasury Department.

Several new designs of the controversial Trump coin, which Democrats are pushing to get blocked, were submitted to the Commission of Fine Art, the independent agency that advises the federal government on design aesthetics.

The trio of coin designs are all close-ups of Trump's face - with the word 'Liberty' over his head and the years 1776 to 2026 listed below.

Each one has the president looking in a different direction.

Commission members voted at a meeting Thursday morning to recommend the version that's a side-profile of Trump, as long as it's to the president's liking.

They were concerned about the look of Trump's hair in the other proposed designs.

'The plate of hair up there is not accurate,' said commission member, James C. McCrery, of the design where Trump is looking forward.

McCrery was the original pick to design Trump's ballroom, but was replaced by Shalom Baranes, who has more experience handling major federal construction projects.

McCrery was among five new appointees to the Commission of Fine Arts, which is also reviewing the ballroom design, that Trump selected earlier this month after firing the former members in October.

The Citizens Coinage Advisory Committee (CCAC) does not have a dedicated "comment page" with a direct submission form on its website. Instead, public input is facilitated through specific email and phone channels, typically announced alongside public meetings.

Here are the ways to submit comments or contact the CCAC:

Email for Comments/Matters: You may submit matters for the CCAC's consideration by email to info@ccac.gov .

CCAC Hotline: For information on meetings and to submit inquiries, call the CCAC hotline at (202) 354-7502.

Mail: Correspondence can be sent to:
United States Mint
ATTN: Citizens Coinage Advisory Committee
801 9th Street NW
Washington, DC 20220-0012

Fax: Ideas for the CCAC's consideration can be faxed to (202) 756-6525.

To read the complete article, see:
Trump's new $1 coin designs revealed after iconic 'fight' version axed as Dems battle vanity project (https://www.msn.com/en-ie/news/world/trump-s-new-1-coin-designs-revealed-after-iconic-fight-version-axed-as-dems-battle-vanity-project/ar-AA1UQI2m)

CONTINENTAL DOLLAR TRIBUTE

A timely tribute to one of the most iconic and symbolic coins of the early United States, the legendary 1776-dated Continental Currency dollar, is now available exclusively from Rare Collectibles TV (www.RareCollectiblesTV.com).

The new, limited-edition Mint State silver and gold semiquincentennial commemoratives, featuring the dual date 1776-2026, honor the legacy of Founding Father Benjamin Franklin and the 250th anniversary of the signing of the Declaration of Independence on July 4, 1776 that gave America freedom.

"The Continental Dollar was the coin of revolution, a great emblem of a new nation! When it comes to early American history and the symbols that defined our nation's fight for liberty, the 1776 Continental Dollar has stood as a cornerstone for over two centuries," stated Jack McNamara, Co-Founder of Rare Collectibles TV.

"This remarkable coin was the first great emblem of a new nation, a masterpiece of historic freedom forged during the dawn of the United States of America itself," explained McNamara.

"Founding Father Benjamin Franklin's unmistakable Fugio design of a sundial showcasing the motto ‘Mind Your Business' on the obverse, as well as his 13 linking rings reverse design with the motto, ‘We Are One,' represent the work ethic and bond of the original 13 colonies," he explained.

With just 499 one-ounce gold examples and only 999 five-ounce silver specimens struck, RCTV's 1776 – 2026 250th Anniversary Continental Dollars rival even the low mintage of the originals.

"These limited-edition commemoratives capture a patriotic masterpiece that symbolizes the revolutionary fight for American freedom; an icon that speaks to the courage, determination, and unity that continues to make America the greatest country on Earth. Once they're gone, they will never be struck again," advised McNamara.

Each example is certified and encapsulated by the Numismatic Guaranty Company (www.NGCcoin.com) and graded a perfect Mint State 70 with RCTV's exclusive 100 Greatest U.S. Coins label honoring the most historic coins in U.S. history.

The first-ever one-ounce gold examples of this American icon are available exclusively from RCTV for $7,995 each or three payments of $2,665. The five-ounce 1776-2026 silver Continental Dollars are $995 each.

For additional information and to place an order, visit online at www.RareCollectiblesTV.com or call RCTV at 800-233-4145.

THE FIRST BULGARIAN BANKNOTE

In the days when Bulgaria has officially adopted the euro and the lev is becoming part of history, we take a look at the first Bulgarian banknote, issued on 1 August 1885.

It is preserved at the Regional History Museum in the city of Gabrovo.

Its denomination is 20 leva and it was printed 140 years ago at the State Printing House in Saint Petersburg.

How did it end up in Gabrovo and what is the story of Bulgaria's first banknotes?

More than a century ago, Bulgaria took its first step towards financial independence. By law, the state granted the Bulgarian National Bank the right to issue paper money.

Thus, the first Bulgarian banknote came into existence.

The first series was printed in an extremely small circulation – just 213,000 leva.

Its story is almost like a novel.

Discovered and preserved by a merchant from Gabrovo, it passed through several generations before finally reaching the museum.

From a gold-backed lev to the common European currency – history comes full circle while also opening a new chapter. And the first Bulgarian banknote remains here to remind us where we began, and why money always tells a story that goes far beyond mere numbers.

To read the complete article, see:
‘Preserved Like a Treasure': The First Bulgarian Banknote, a Story Almost Like a Novel (https://bntnews.bg/news/%E2%80%98preserved-like-a-treasure%E2%80%99-the-first-bulgarian-banknote-a-story-almost-like-a-novel-see-pics-1374825news.html)

MCKEESPORT BANKNOTES

In our January Collectors Choice Online currency auction next week we feature a couple of lots from McKeesport, Pennsylvania. Lot 98096 offers a colorful pair of early Obsoletes from the Monongahela Valley Bank with the spelling of the town as Mckee's Port, while lot 98431 offers an 1882 $10 Brown Back with the city shown as McKeesport.

The city was founded by David Mckee who settled in the area around 1755. In 1769, he established a river port at the confluence of the Monongahela and Youghiogheny rivers and was given exclusive rights for ferriage by Queen Alliquippa, a Seneca ruler who was friends with George Washington. In the 18th and early 19th centuries spelling and punctuation were not standardized in deeds, maps, newspapers and currency such as these Obsoletes. It was called McKee's Port which literally translates to the port belonging to McKee. Variants of the name include McKee's Port, McKees Port, and the more familiar McKeesport.

During the 19th century, as the town grew and became more industrialized, governments and mapmakers pushed for more simplified and standardized town names. Once the city was incorporated the official name became McKeesport as it appears on the National Banknote in lot 98431.

The historical significance of issued currency once used in commerce is quite interesting and provides a window into the past. There are likely countless other towns in the United States with similar stories of name changes such as this and banknotes that reflect them.

To read the complete article, see:
Early PA Town Names – McKee's Port vs. McKeesport (https://stacksbowers.com/early-pa-town-names-mckees-port-vs-mckeesport/)

To read the complete lot description, see:
Lot of (2) McKee's Port, Pennsylvania. Monongahela Valley Bank. 1858-59 $5 & $10. About Uncirculated to Choice Uncirculated. (https://auctions.stacksbowers.com/lots/view/3-1PYL22/lot-of-2-mckees-port-pennsylvania-monongahela-valley-bank-1858-59-5-10-about-uncirculated-to-choice-uncirculated)

To read the complete lot description, see:
McKeesport, Pennsylvania. $10 1882 Brown Back. Fr. 487. First NB. Charter #2222. Choice Fine. (https://auctions.stacksbowers.com/lots/view/3-1PYN7L/mckeesport-pennsylvania-10-1882-brown-back-fr-487-first-nb-charter-2222-choice-fine)

U.S. FUND SUES RUSSIA OVER 1916 DEBT

A U.S. fund just dragged 1916-era Russian debt into a 2026 courtroom, with billions and geopolitical consequences on the line.

A dormant chapter of European financial history has reemerged in a contemporary legal arena, drawing direct lines between pre-revolutionary debt instruments and current geopolitical disputes. In January 2026, Noble Capital RSD, a U.S.-based investment fund, filed a claim in the U.S. District Court for the District of Columbia seeking over $225 billion in compensation from the Russian Federation, asserting that it remains liable for unpaid sovereign bonds issued under the Russian Empire in 1916.

The case focuses on bonds originally issued through a syndicate led by Citibank, carrying a 5.5 percent interest rate and a 1921 maturity. These securities were effectively repudiated by the Bolshevik government following the 1917 Revolution and have not been honored by any subsequent Russian administration. Noble Capital claims to hold $25 million in face value of the bonds and has calculated the claim amount by applying compounded interest over 109 years.

Moscow has rejected the legal basis of the claim and signaled its intent to challenge the case under the Foreign Sovereign Immunities Act (FSIA), a U.S. statute that protects foreign states from being sued in U.S. courts under most circumstances. The Russian government has until January 30, 2026, to file a motion to dismiss.

The lawsuit's central legal argument invokes the doctrine of state succession, which holds that sovereign obligations persist through changes in government. At stake is not just the bond value but a broader legal precedent for the potential seizure of frozen Russian sovereign assets in the United States and other Western jurisdictions.

The timing coincides with ongoing Western debates over how to leverage Russia's frozen central bank reserves, estimated at over $300 billion globally, as part of Ukraine war reparations and reconstruction efforts.

To read the complete article, see:
Noble Capital Sues Russia for $200B Over Century-Old Unpaid Tsarist Bonds in U.S. Federal Court (https://indiandefencereview.com/russia-sued-over-tsarist-bonds-noble-capital-claims-200b/)

SCIENTISTS ACCIDENTALLY TURN LEAD INTO GOLD

Medieval alchemists dreamed of transmuting lead into gold.

Today, we know that lead and gold are different elements, and no amount of chemistry can turn one into the other.

But our modern knowledge tells us the basic difference between an atom of lead and an atom of gold: the lead atom contains exactly three more protons. So can we create a gold atom by simply pulling three protons out of a lead atom?

As it turns out, we can. But it's not easy.

While smashing lead atoms into each other at extremely high speeds in an effort to mimic the state of the universe just after the Big Bang, physicists working on the ALICE experiment at the Large Hadron Collider in Switzerland incidentally produced small amounts of gold.

Extremely small amounts, in fact: a total of some 29 trillionths of a gram.

The ALICE scientists calculate that, while they are colliding beams of lead nuclei, they produce about 89,000 gold nuclei per second. They also observed the production of other elements: thallium, which is what you get when you take one proton from lead, as well as mercury (two protons).

Once a lead nucleus has transformed by losing protons, it is no longer on the perfect orbit that keeps it circulating inside the vacuum beam pipe of the Large Hadron Collider. In a matter of microseconds it will collide with the walls.

This effect makes the beam less intense over time. So for scientists, the production of gold at the collider is in fact more of a nuisance than a blessing.

To read the complete article, see:
Scientists mimicking the Big Bang accidentally turn lead into gold (https://www.independent.co.uk/news/science/big-bang-large-hadron-collider-gold-b2903961.html)

LOOSE CHANGE: JANUARY 25, 2026

CoinWeek Guide to the 2026 Semiquincentennial Circulating Coins

In 2026, the United States marks a defining milestone: 250 years since the Declaration of Independence. To commemorate that anniversary, the United States Mint has undertaken the most ambitious and philosophically unified redesign of circulating U.S. coinage since the Bicentennial of 1976.

For one year only, America's everyday coins tell a deliberate story. Each denomination contributes a chapter. Each design communicates a specific idea. Taken together, they form a coherent narrative about how liberty begins, how it survives, and how it must be sustained.

This article presents CoinWeek's fully expanded guide to the 2026 Semiquincentennial circulating coins. It integrates all known U.S. Mint background information, expands on the historical and symbolic meaning of every design, documents what comes next in the broader numismatic program, and concludes with CoinWeek's editorial perspective.

To read the complete article, see:
The Definitive CoinWeek Guide to the 2026 Semiquincentennial Circulating Coins (https://coinweek.com/the-definitive-coinweek-guide-to-the-2026-semiquincentennial-circulating-coins/)

Syria Unveils New Currency

Syria's central bank plans to begin swapping in a newly issued national currency on January 1, 2026, describing the step as a key move to stabilize the battered economy and rebuild public confidence in the Syrian pound.

Announcing the change on Thursday, Governor of the Central Bank of Syria Abdulkader Husrieh presented the new notes as a marker of financial sovereignty and the beginning of a new economic phase after years of conflict, sanctions, and political transition.

The move comes after more than a decade of war and sanctions that have slashed Syria's output and driven many citizens into poverty, while the pound has collapsed from pre-war stability to levels that force people to carry thick bundles of cash for everyday transactions. The government portrayed the new currency as part of a broader reconstruction push amid hopes that improved monetary management will help attract investment.

To read the complete article, see:
Syria Unveils New Currency for January 2026 in Bid To Support War-battered Economy (https://themedialine.org/headlines/syria-unveils-new-currency-for-january-2026-in-bid-to-support-war-battered-economy/)

Bulgaria Adopts the Euro

Bulgaria is set to adopt the euro on January 1, 2026, making it the 21st member state of the eurozone.

Joining the currency club marks a major milestone for the Eastern European country, which entered the European Union in 2007.

Bulgaria's accession leaves only six of the 27 EU nations outside the currency union: Sweden, Poland, the Czech Republic, Hungary, Romania and Denmark.

To read the complete article, see:
Bulgaria joining eurozone is big deal (https://www.dw.com/en/bulgaria-joining-eurozone-is-big-deal-euro-sofia/a-75125642)

Library Book Returns After 36-Year World Tour

Dimitris Economou was visiting his parents in Greece and looking for a book to read to his 7-year-old son when he found a copy of the children's book "Harry the Dirty Dog" on his dad's bookshelf. He remembered the story from his own childhood.

"As we finished, I got to the back where I saw the library card," Economou said of his visit last summer.

He realized two things — that this was a library book from the Fairfax County Public Library and that it was very overdue. It was due on Nov. 6, 1989.

After the family's time in Virginia, they moved back to Greece, and his father went on to live in Syria, Japan and the Netherlands, the library book relocating with him without anyone realizing it.

To read the complete article, see:
A Virginia library book found its way home after 36 years and a world tour (https://www.washingtonpost.com/lifestyle/2026/01/13/virginia-library-book-return-greece/)

COLLECTIBLE CERTIFICATION SLABS

Accugrade
In 1984, Accugrade became the first company to seal graded coins in hard plastic holders, two years before the debut of PCGS. Early Accugrade holders are "photoslabs", meaning each contains both a coin and a black-and-white photo of the coin.

Slab collectors value these early examples at about $30 over the value of the enclosed coin. Later Accugrade holders, which do not have photos, earn a premium of around $15.

 

ANACS Blue Text
ANACS originally stood for "American Numismatic Association Certification Service". Some people feel that this grader held higher standards when it was still part of the American Numismatic Association (ANA), before its sale to Amos Press in 1990.

ANACS used small white holders from 1988 through 2003, but only the pre-1990 labels have blue text in the background reading "OFFICIAL ANA GRADE".

There is no specific dollar premium on ANACS blue text holders. Much like PCGS rattlers, check these slabs for premium-quality coins to keep as they are or to re-submit in hopes of a higher grade.

 

Compugrade
Opened in New Orleans in 1991, Compugrade intended to grade coins using computerized equipment instead of skilled graders. Although they graded coins for a few months, the company closed in the same year. They made one of the most attractive holders of any grading service. The plastic has a clear crystalline quality.

Most holders from services other than the top four of ANACS, ICG, NGC, and PCGS have minimal value to slab enthusiasts. Like Accugrade, Compugrade is one of the few exceptions, and a slab collector will pay about $40 over the value of the enclosed coin.

If you are lucky enough to find a Compugrade labeled "sample", you have a scarce sample slab worth $250.

To read the complete article, see:
Buy the Holder, Not the Coin – 10 Certification Slabs to Look For (https://coinweek.com/buy-the-holder-not-the-coin-10-slabs-to-look-for/)

ABOUT THIS ISSUE: JANUARY 25, 2026

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.