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[Music]

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hello and welcome to the antique auction

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forum

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podcast and uh my guest today is steven

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schofield i've known stephen oh my

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goodness

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i'm going to have to ask him how many

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years it's been but uh without

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further ado we're going to be talking

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about coins and i want to bring them

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coins and stamp set is i'm going to

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bring them in right now hey martin how

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are you good how long have we known

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each other i mean summer of 1981

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was when i went to auction school and i

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came back and a day later i was working

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with you and your dad at the seaboard

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auction gallery down in elliott

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as a runner and and uh helping out

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selling

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and i apprenticed with your dad for six

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months and got my auctioneer's license

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boy we had a lot of fun didn't we it was

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great fun

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of course i wouldn't want to move the

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stuff around we were moving then my back

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might not last

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i was just telling a friend uh two days

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ago because i hurt my back actually

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because i had to buy something at an

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auction it went for such a good deal

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so i had to buy it it was uh it was

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just an incredible deal otherwise i'd

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just walk away

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today but anyway i was telling when i

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was 17

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i moved a he i wanted to prove to my

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father i don't know why

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but you know i i wanted to prove to him

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that i could move this piano by myself

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so him and jenny went for uh lunch

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and so i moved the piano it was a play

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not a play i mean not upright piano

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i got it all the way to the porch

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and the trailer was on an angle without

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me thinking about it

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so so i get the

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piano in i made it in like hooray and

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all of a sudden it goes

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boom boom right into the front of the

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trailer and

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nice very nice yeah yeah damage control

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but anyway uh you have uh and i've

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actually helped you i remember helping

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you at an auction

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years ago up in your area where you're

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living up in new hampshire

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and you had a ton of staffordshire

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figurines do you remember that auction

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i certainly do that was a wonderful

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on-site sale

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it was yeah yes yeah yeah just like i

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helped you out when you did the

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zaya bartlett auction i remember that

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yes you're

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you're a great help there great help

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yeah thank you uh

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yeah great memories uh yeah it's always

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fun to work with a

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consummate professional and you and your

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dad are always working

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here well thank you thank you um so i

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want to talk to you about you

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kind of branched off into um coins

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and stamps and uh have become very well

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known for it

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um i i did have myself i did have a a

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passion for collecting when i was very

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young

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unfortunately um my father and

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a whole family went to florida and a

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so-called friend broke into my house

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and stole all my coins and then spent

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them

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at the bowl-a-rama in portsmouth new

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hampshire

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as coin face value and i will tell you

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this

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in that i saved for a whole year doing

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paper route lawns and everything

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to buy an uncirculated vdbs

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and uh it was spent as a penny

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more than a thousand dollars now yeah i

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but anyway so that kind of dampered that

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really

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tamped down my interest in coins i just

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i didn't even want to look at coins

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anymore because

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but how did you get into this whole

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aspect of

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of coins kind of interesting when i was

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seven

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i was now old enough to get my nose

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above the cash register draw

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in my parents and grandparents store and

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so

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saturdays my brother older brother was

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in the boy scouts he was off hiking or

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camping or whatever he

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he did and my mom worked saturdays and

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it was time for daycare and so that was

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me i became the cashier

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so at the time at the time this is the

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mid 50s i'll date myself i'll say it was

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1955.

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everybody on this cast can figure out my

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age

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and i was making 10 cents a week

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allowance well

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10 cents a week you could buy two packs

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of baseball cards and all of a sudden i

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needed

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pennies for my penny collection

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and all of a sudden only five cents for

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one pack of baseball cards so i got

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really good at flipping baseball cards

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with my friends so i could win and get

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more cards

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and and that literally that's how i

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started and stamps were because of

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of the envelopes that my my folks were

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throwing out from the business and i

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said gee i could just

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rip the corner of an envelope off with a

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stamp on it and those days

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of course every stamp you licked wasn't

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the peel and stick like you have today

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oh yeah yeah and and it was a pretty

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simple process you put the

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the corner in a cereal bowl of water the

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glue would dissolve you dry the stamp

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and you could put it in your stamp album

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and that it's the it's that from those

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simple beginnings

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it's become became a passion as a

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collector

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and and now i earn my living doing it

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and

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let me ask you this

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what is it what is do you think it's

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technology or the information age that

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just makes

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someone like you not come along so often

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today you know i'm talking about young

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people's interest

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in in collecting this type of thing

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well with young people with any

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collecting any kind of

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product or whatever it might be it's

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just there's not a lot of interest

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i mean i grew up in a time when we

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didn't have a television in the house

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my my folks would sit my brother and i

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down in front of the big box radio

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to listen to cereals and they would say

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don't beat each other up

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and so it was

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it was a time where you had time

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uh you talk about stamps well the

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collectors of stamps were the greatest

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generation and early baby boomers

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because they had the time to do these

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things it was

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it was quiet you could not bother people

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like your mom and dad and your

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grandparents if you had

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multi-generations at home

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and and you could learn about history

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and you could learn about

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geography and it was really great uh

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with coins you could just learn about

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what was going on with different eras i

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mean

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a simple example is why did they make

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in in a given year so few coins well it

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gets tied back to the economic situation

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if we were in a recession or a

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depression

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the the economy didn't need a lot of

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circulating coins so

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the government would stop making a lot

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or they wouldn't even make a particular

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denomination

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in a given year so all of that kind of

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plays

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into being fascinated with history

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and and the way we work as a as a

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country

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i have a question for you just came to

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mind when you're when you're saying this

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um

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when i was growing up and she said that

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she believed she had

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one of the rarest coins that there was

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and so i remember asking her what it was

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and she said it was a copper 1944 penny

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i think she said 1944 when they were

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zinc

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is that possible yes actually was 1943.

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during world war ii uh

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in the middle of the war in 1943 kappa

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was such an important strategic

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war medal that they made zinc

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coated steel pennies just for that

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particular year

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but when they changed over from 1942 to

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1943

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there was still some old copper blanks

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left in the hoppers

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and they got fed through and got coined

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there are i believe about 14 or

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15 of of the 1943 copper pennies

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just like in 1944 when they went back to

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the copper pennies

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there were still some zinc and steel

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blanks

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left in the hoppers and so there are

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actually some 1944 steel pennies

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and i should make a little bit of a

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comment here in 1944 and 45 most of the

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pennies were actually made out of

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military training as guys were going

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through basic

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you had all of these spent rounds and

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they got

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that that was grass though that wasn't

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brass uh well it sort of was just the

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alloy that was used

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and there was a mixture they weren't

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they weren't pure copper

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it's just an interesting dynamic from

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the war years

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and if she had that coin would it have

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been an extremely valuable coin

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massively i mean you're talking in

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today's market you're talking about a

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quarter of a million dollars or more

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for one of them i'm gonna have to talk

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to my friend he's still in the same

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house he never moved

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yeah but the trick is a lot of people

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would take a 1943

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steel penny and they would copper

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coat it through a plating process which

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when

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if you had a chemistry shed as a kid you

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could do that and so it was always

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fun but the since steel pennies would be

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attracted to a magnet

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that's the first tell yeah yeah okay

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i'll bring my magnet

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when i get it bring a magnet and then

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but if the coin is not attracted to the

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magnet it says 1943

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uh you want to have a new best friend

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that's right we've lost touch a little

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bit so okay

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well interesting yeah so um

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yeah as far as you making the

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the switch over i never really saw that

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you you know you i was out in california

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for a while but

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when did you actually switch over to um

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just opening up centennial coin and by

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the way i'm going to pull up the website

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so people can see it

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okay well centennial which is a

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subsidiary of our

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main or parent corporation uh

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started in the mid 90s and we had a a

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partner

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at the time of right now it's just my

283
00:10:25,990 --> 00:10:23,760
wife and i that that owned the company

284
00:10:28,230 --> 00:10:26,000
we bought out our partner years ago

285
00:10:29,110 --> 00:10:28,240
but it was started specifically to brand

286
00:10:32,630 --> 00:10:29,120
itself

287
00:10:33,670 --> 00:10:32,640
for coins and eventually stamps uh the

288
00:10:36,790 --> 00:10:33,680
parent company

289
00:10:39,750 --> 00:10:36,800
did personal property auctions and

290
00:10:40,150 --> 00:10:39,760
and some real estate and so that's kind

291
00:10:42,230 --> 00:10:40,160
of

292
00:10:44,230 --> 00:10:42,240
what happened we just wanted to have a

293
00:10:46,470 --> 00:10:44,240
separate a separate branch and of course

294
00:10:49,509 --> 00:10:46,480
bringing a partner in we didn't want

295
00:10:51,829 --> 00:10:49,519
that individual tied to the the on-site

296
00:10:52,870 --> 00:10:51,839
estate auctions and and the furniture

297
00:10:54,630 --> 00:10:52,880
and those things

298
00:10:56,230 --> 00:10:54,640
now i see you brought up the website and

299
00:11:00,389 --> 00:10:56,240
you brought up an interesting

300
00:11:01,590 --> 00:11:00,399
uh image that coin is in 1895 morgan

301
00:11:04,630 --> 00:11:01,600
silva dollar

302
00:11:05,030 --> 00:11:04,640
and in that year they only made 880 of

303
00:11:09,430 --> 00:11:05,040
them

304
00:11:11,190 --> 00:11:09,440
condition called proof

305
00:11:13,430 --> 00:11:11,200
a proof coin is something that's

306
00:11:16,550 --> 00:11:13,440
specially made by the mint

307
00:11:18,630 --> 00:11:16,560
the blanks are prepared specially

308
00:11:19,590 --> 00:11:18,640
and then when the coin is actually

309
00:11:23,590 --> 00:11:19,600
stamped

310
00:11:26,870 --> 00:11:23,600
the coin is undergoes a a significantly

311
00:11:30,150 --> 00:11:26,880
more uh pressure on it

312
00:11:33,030 --> 00:11:30,160
so you've got great details on the face

313
00:11:34,870 --> 00:11:33,040
and the head and all the letters and on

314
00:11:35,430 --> 00:11:34,880
the on the back or the reverse on the

315
00:11:37,350 --> 00:11:35,440
eagle

316
00:11:39,190 --> 00:11:37,360
and everything else that you know the

317
00:11:42,230 --> 00:11:39,200
design is very very

318
00:11:43,030 --> 00:11:42,240
uh vibrant in addition those coins are

319
00:11:46,470 --> 00:11:43,040
never

320
00:11:49,030 --> 00:11:46,480
shoot into a hopper and put into a bag

321
00:11:49,509 --> 00:11:49,040
of a thousand that's how how they would

322
00:11:53,670 --> 00:11:49,519
uh

323
00:11:55,110 --> 00:11:53,680
thousand that'd be a counting machine

324
00:11:57,750 --> 00:11:55,120
and put into a canvas

325
00:11:59,269 --> 00:11:57,760
bag they'd uh sew it closed and some guy

326
00:12:01,670 --> 00:11:59,279
would throw it into a horse

327
00:12:03,829 --> 00:12:01,680
drawn cart in 1895 but because we were

328
00:12:06,949 --> 00:12:03,839
in a depression in 1895

329
00:12:07,350 --> 00:12:06,959
it's a small mintage it's a a coin

330
00:12:09,350 --> 00:12:07,360
that's

331
00:12:10,470 --> 00:12:09,360
known as basically the king of silver

332
00:12:13,590 --> 00:12:10,480
dollars

333
00:12:16,389 --> 00:12:13,600
and we actually found one

334
00:12:17,509 --> 00:12:16,399
as part of an entire proof set being a

335
00:12:20,069 --> 00:12:17,519
penny nickel dime

336
00:12:21,190 --> 00:12:20,079
quarter half dollar in this particular

337
00:12:24,230 --> 00:12:21,200
silver dollar

338
00:12:27,269 --> 00:12:24,240
the reason that you have

339
00:12:29,910 --> 00:12:27,279
that interesting toning different on the

340
00:12:30,470 --> 00:12:29,920
eagle on the back of the coin yeah it's

341
00:12:32,550 --> 00:12:30,480
because

342
00:12:33,750 --> 00:12:32,560
there was a quarter that was sitting on

343
00:12:36,629 --> 00:12:33,760
top of that

344
00:12:37,750 --> 00:12:36,639
when i unpacked that from the literally

345
00:12:40,870 --> 00:12:37,760
the original mint

346
00:12:44,230 --> 00:12:40,880
envelope this came out of us

347
00:12:46,230 --> 00:12:44,240
an estate uh the grandpa

348
00:12:48,310 --> 00:12:46,240
had collected this actually he'd gone to

349
00:12:52,069 --> 00:12:48,320
the mint in 1895 and bought it

350
00:12:52,790 --> 00:12:52,079
he died in 1955 his daughter who i'll

351
00:12:56,949 --> 00:12:52,800
just say was

352
00:12:59,430 --> 00:12:56,959
mom passed in uh 2010

353
00:13:00,230 --> 00:12:59,440
and she was a hundred and this was in a

354
00:13:02,710 --> 00:13:00,240
shoe box

355
00:13:03,269 --> 00:13:02,720
underneath her bed at assisted living

356
00:13:05,590 --> 00:13:03,279
yeah

357
00:13:06,949 --> 00:13:05,600
and the living children called me in to

358
00:13:08,550 --> 00:13:06,959
do an appraisal

359
00:13:10,470 --> 00:13:08,560
and it was just it was fascinating

360
00:13:12,069 --> 00:13:10,480
because this was still in the original

361
00:13:15,509 --> 00:13:12,079
sealed mint envelope

362
00:13:17,910 --> 00:13:15,519
because grandpa and mom told the kids

363
00:13:19,590 --> 00:13:17,920
don't open this it's valuable and we

364
00:13:20,790 --> 00:13:19,600
don't want to mess it up and and it's

365
00:13:22,949 --> 00:13:20,800
almost impossible

366
00:13:23,910 --> 00:13:22,959
we call that auction the time capsule

367
00:13:27,350 --> 00:13:23,920
collection

368
00:13:28,389 --> 00:13:27,360
because we had about 25 early proof sets

369
00:13:31,509 --> 00:13:28,399
between the

370
00:13:33,829 --> 00:13:31,519
early 1880s and 1915.

371
00:13:35,110 --> 00:13:33,839
wow what did that particular one sell

372
00:13:38,310 --> 00:13:35,120
for do you remember that

373
00:13:39,829 --> 00:13:38,320
that particular set sold for about 265

374
00:13:43,030 --> 00:13:39,839
thousand dollars

375
00:13:46,310 --> 00:13:43,040
oh my goodness isn't that something wow

376
00:13:48,790 --> 00:13:46,320
it was fun yeah oh that's so exciting

377
00:13:50,230 --> 00:13:48,800
and i i want to tell first of first of

378
00:13:51,269 --> 00:13:50,240
all a couple things because there's a

379
00:13:53,990 --> 00:13:51,279
lot of people that

380
00:13:55,269 --> 00:13:54,000
really um you know may consider

381
00:13:57,030 --> 00:13:55,279
collecting coins or

382
00:13:58,389 --> 00:13:57,040
you know think about it or had collected

383
00:14:00,550 --> 00:13:58,399
coins it's

384
00:14:02,069 --> 00:14:00,560
really really rare to find something

385
00:14:02,629 --> 00:14:02,079
rare i want to i want to get that point

386
00:14:05,030 --> 00:14:02,639
across

387
00:14:06,790 --> 00:14:05,040
but it doesn't mean you shouldn't look

388
00:14:07,990 --> 00:14:06,800
um

389
00:14:10,629 --> 00:14:08,000
what do you what do you say to that

390
00:14:13,269 --> 00:14:10,639
comment i'd say you're you're 100

391
00:14:14,790 --> 00:14:13,279
correct the the rare coins that we run

392
00:14:17,829 --> 00:14:14,800
into today

393
00:14:18,470 --> 00:14:17,839
in estates or in houses are things that

394
00:14:21,590 --> 00:14:18,480
just got

395
00:14:23,590 --> 00:14:21,600
stuck in a drawer years ago or for some

396
00:14:26,150 --> 00:14:23,600
reason got pulled out of circle

397
00:14:26,629 --> 00:14:26,160
circulation and put in somebody's pocket

398
00:14:29,189 --> 00:14:26,639
and got

399
00:14:30,389 --> 00:14:29,199
saved and at the time it was just worth

400
00:14:32,389 --> 00:14:30,399
face value

401
00:14:34,389 --> 00:14:32,399
and over the years all of a sudden

402
00:14:35,910 --> 00:14:34,399
things become very valuable

403
00:14:37,750 --> 00:14:35,920
i remember being in a house in

404
00:14:40,069 --> 00:14:37,760
newburyport massachusetts

405
00:14:41,189 --> 00:14:40,079
and and i'm sure you remember when you

406
00:14:43,590 --> 00:14:41,199
were collecting

407
00:14:44,230 --> 00:14:43,600
there were these whitman folders and at

408
00:14:46,629 --> 00:14:44,240
the time

409
00:14:48,230 --> 00:14:46,639
they probably cost you 19 cents oh yes

410
00:14:48,949 --> 00:14:48,240
yeah yeah and you would push the coin

411
00:14:51,189 --> 00:14:48,959
into the

412
00:14:52,790 --> 00:14:51,199
blue things they're blue the blue things

413
00:14:55,269 --> 00:14:52,800
the blue folding things i'm not going to

414
00:14:57,829 --> 00:14:55,279
get up and grab one right now but

415
00:14:58,310 --> 00:14:57,839
but there's plenty around yes there are

416
00:15:02,310 --> 00:14:58,320
uh

417
00:15:03,430 --> 00:15:02,320
gonna find in one of those i'll say blue

418
00:15:05,670 --> 00:15:03,440
foldy things

419
00:15:08,030 --> 00:15:05,680
but we made a particular kind of half a

420
00:15:12,069 --> 00:15:08,040
dollar in the united states from

421
00:15:16,550 --> 00:15:12,079
1916 to 1947 called a walking liberty

422
00:15:19,110 --> 00:15:16,560
uh half dollar and in 1921

423
00:15:20,629 --> 00:15:19,120
the coins from philadelphia denver and

424
00:15:23,110 --> 00:15:20,639
san francisco were pretty

425
00:15:24,470 --> 00:15:23,120
pretty rare especially in in higher

426
00:15:27,750 --> 00:15:24,480
grades because

427
00:15:29,430 --> 00:15:27,760
all the coins from let's say the early

428
00:15:31,590 --> 00:15:29,440
20s and earlier

429
00:15:32,870 --> 00:15:31,600
once you got into the depression in the

430
00:15:35,189 --> 00:15:32,880
mid to late 20s

431
00:15:37,030 --> 00:15:35,199
people didn't save that stuff they

432
00:15:38,790 --> 00:15:37,040
needed to spend it because they needed

433
00:15:41,590 --> 00:15:38,800
to live they needed to eat

434
00:15:43,670 --> 00:15:41,600
so coins that are closer to new would

435
00:15:45,910 --> 00:15:43,680
become much more valuable and i remember

436
00:15:46,710 --> 00:15:45,920
opening up that that liberty half dollar

437
00:15:49,030 --> 00:15:46,720
album

438
00:15:49,910 --> 00:15:49,040
uh sitting in this ladies kitchen and

439
00:15:51,749 --> 00:15:49,920
opening up and

440
00:15:53,110 --> 00:15:51,759
and looking at it and saying oh it's all

441
00:15:55,030 --> 00:15:53,120
stuff and at the time

442
00:15:57,110 --> 00:15:55,040
all the coins more or less worth about a

443
00:15:59,030 --> 00:15:57,120
dollar fifty because of the wear

444
00:16:00,470 --> 00:15:59,040
and then i closed it and i'm thinking

445
00:16:02,069 --> 00:16:00,480
wait a minute there's something wrong

446
00:16:04,710 --> 00:16:02,079
here and i reopened it up

447
00:16:06,230 --> 00:16:04,720
and there was the 1921 s in a very high

448
00:16:09,030 --> 00:16:06,240
grade condition that we sold for three

449
00:16:10,389 --> 00:16:09,040
thousand dollars wow but i could see

450
00:16:13,269 --> 00:16:10,399
somebody else

451
00:16:15,269 --> 00:16:13,279
possibly coming in and not being willing

452
00:16:15,990 --> 00:16:15,279
to disclose that and not getting excited

453
00:16:18,310 --> 00:16:16,000
about that

454
00:16:19,749 --> 00:16:18,320
saying oh it's just worth about 50 and

455
00:16:20,470 --> 00:16:19,759
and make a lot of money so it's very

456
00:16:22,230 --> 00:16:20,480
important

457
00:16:24,710 --> 00:16:22,240
if you have somebody coming in to look

458
00:16:26,870 --> 00:16:24,720
at your coins or you bring

459
00:16:28,389 --> 00:16:26,880
your coins to somebody that you know who

460
00:16:29,990 --> 00:16:28,399
you're dealing with

461
00:16:32,790 --> 00:16:30,000
yeah you know you're reputable and

462
00:16:35,030 --> 00:16:32,800
they're ethical you're right trust is a

463
00:16:35,990 --> 00:16:35,040
trust is a very important thing when it

464
00:16:40,150 --> 00:16:36,000
comes to

465
00:16:41,990 --> 00:16:40,160
something like coins stamps and jewelry

466
00:16:43,670 --> 00:16:42,000
those are the things where you really

467
00:16:44,790 --> 00:16:43,680
have to trust someone if you're out

468
00:16:46,870 --> 00:16:44,800
there and you have something

469
00:16:48,710 --> 00:16:46,880
just to give an example now i know most

470
00:16:49,590 --> 00:16:48,720
people listening to this as an audio

471
00:16:51,430 --> 00:16:49,600
podcast

472
00:16:52,870 --> 00:16:51,440
um i will share some of the pictures

473
00:16:54,150 --> 00:16:52,880
this is just to give you an example of

474
00:16:57,430 --> 00:16:54,160
the walking liberty

475
00:16:59,590 --> 00:16:57,440
uh 50 cent um piece half dollar

476
00:17:02,150 --> 00:16:59,600
correct that yeah that's actually a

477
00:17:04,710 --> 00:17:02,160
proof one so it looks pretty nice

478
00:17:06,230 --> 00:17:04,720
yeah yeah and and i can give you another

479
00:17:08,630 --> 00:17:06,240
example of a rare coin

480
00:17:09,429 --> 00:17:08,640
uh we were in in providence this past

481
00:17:11,750 --> 00:17:09,439
year and

482
00:17:13,510 --> 00:17:11,760
we were looking in in somebody's

483
00:17:15,590 --> 00:17:13,520
collection that they had in a series of

484
00:17:17,829 --> 00:17:15,600
draws and all of a sudden there was a

485
00:17:19,270 --> 00:17:17,839
uh a five dollar gold piece and i'm

486
00:17:20,309 --> 00:17:19,280
going well that's kind of interesting

487
00:17:24,630 --> 00:17:20,319
because it was

488
00:17:26,230 --> 00:17:24,640
from 1829 and i looked at i'm going this

489
00:17:28,630 --> 00:17:26,240
is a pretty rare coin

490
00:17:31,029 --> 00:17:28,640
and it turns out that this coin was

491
00:17:33,350 --> 00:17:31,039
handed down through the family

492
00:17:34,950 --> 00:17:33,360
by who i'll call the patriarch because i

493
00:17:36,070 --> 00:17:34,960
i can't go any for i don't know how to

494
00:17:37,909 --> 00:17:36,080
go further back

495
00:17:39,990 --> 00:17:37,919
this is a gentleman that was appointed

496
00:17:42,390 --> 00:17:40,000
to the senate out of ohio he was a

497
00:17:45,590 --> 00:17:42,400
supreme court justice back then

498
00:17:46,870 --> 00:17:45,600
and and when william henry harrison was

499
00:17:48,950 --> 00:17:46,880
elected president

500
00:17:50,470 --> 00:17:48,960
this guy was appointed to fill his shoes

501
00:17:53,510 --> 00:17:50,480
in the u.s senate

502
00:17:57,029 --> 00:17:53,520
well from the story law

503
00:17:58,630 --> 00:17:57,039
there you just found it um

504
00:18:00,950 --> 00:17:58,640
the long and the shorter was we sold

505
00:18:03,510 --> 00:18:00,960
that uh this summer for

506
00:18:05,430 --> 00:18:03,520
about forty thousand dollars and it was

507
00:18:06,950 --> 00:18:05,440
sitting sitting in a drawer for years

508
00:18:08,549 --> 00:18:06,960
and years and years and the family

509
00:18:10,549 --> 00:18:08,559
really didn't have any idea

510
00:18:11,750 --> 00:18:10,559
they thought it was worth about 15 if

511
00:18:14,070 --> 00:18:11,760
they were lucky

512
00:18:16,789 --> 00:18:14,080
well let's go the other way the more

513
00:18:19,909 --> 00:18:16,799
let's go the more than often way

514
00:18:20,630 --> 00:18:19,919
um and i've actually sent you on a

515
00:18:23,909 --> 00:18:20,640
couple of

516
00:18:26,710 --> 00:18:23,919
at least one goose wild goose chase yes

517
00:18:28,070 --> 00:18:26,720
where uh there's massive amounts of

518
00:18:31,110 --> 00:18:28,080
stamps i remember this place

519
00:18:35,909 --> 00:18:31,120
in maine i got a hold of you there were

520
00:18:39,110 --> 00:18:35,919
buildings the walls and walls of it

521
00:18:42,710 --> 00:18:39,120
and and worth hardly anything

522
00:18:45,270 --> 00:18:42,720
worth face value you know that's well

523
00:18:46,310 --> 00:18:45,280
we have a term for that in the stamp end

524
00:18:49,110 --> 00:18:46,320
of the operation

525
00:18:49,510 --> 00:18:49,120
and we call it wallpaper it's just like

526
00:18:52,710 --> 00:18:49,520
like

527
00:18:53,990 --> 00:18:52,720
what is the highest and best use of a uh

528
00:18:56,950 --> 00:18:54,000
of a picture

529
00:18:58,950 --> 00:18:56,960
or gee you need to cover up an old stove

530
00:19:01,350 --> 00:18:58,960
hole on your living room wall

531
00:19:03,110 --> 00:19:01,360
and and you say well i think this

532
00:19:04,390 --> 00:19:03,120
picture will fit there and that's a good

533
00:19:05,430 --> 00:19:04,400
thing well it's the same thing with

534
00:19:11,110 --> 00:19:05,440
stamps

535
00:19:12,630 --> 00:19:11,120
less expensive for you to stick all your

536
00:19:15,990 --> 00:19:12,640
stamps on the wall than to actually

537
00:19:19,830 --> 00:19:18,789
if if stamps stamps are stored

538
00:19:21,750 --> 00:19:19,840
improperly

539
00:19:22,950 --> 00:19:21,760
stamps are made out of paper and so if

540
00:19:26,310 --> 00:19:22,960
they get

541
00:19:28,230 --> 00:19:26,320
damp or mildewed there's no recovery

542
00:19:30,549 --> 00:19:28,240
you can have a really valuable stamp but

543
00:19:32,870 --> 00:19:30,559
if it stinks it's not any good

544
00:19:33,750 --> 00:19:32,880
and i and i also caution people again

545
00:19:36,870 --> 00:19:33,760
this has to

546
00:19:38,630 --> 00:19:36,880
this is no reflection on anybody but for

547
00:19:40,470 --> 00:19:38,640
years and years people did an awful lot

548
00:19:41,909 --> 00:19:40,480
of smoking and if if they were heavy

549
00:19:42,789 --> 00:19:41,919
smoker and they were also a stamp

550
00:19:44,710 --> 00:19:42,799
collector

551
00:19:46,710 --> 00:19:44,720
you can go into that person's house you

552
00:19:50,230 --> 00:19:46,720
can open up a stamp album

553
00:19:51,750 --> 00:19:50,240
and and if that person wasn't a smoker

554
00:19:53,669 --> 00:19:51,760
that stamp album could be worth ten

555
00:19:54,870 --> 00:19:53,679
thousand dollars as a smoker it might be

556
00:19:57,350 --> 00:19:54,880
worth two hundred dollars

557
00:19:58,549 --> 00:19:57,360
because nobody wants the stuff they

558
00:20:01,830 --> 00:19:58,559
don't know

559
00:20:05,270 --> 00:20:01,840
can it be put in like an ozone uh

560
00:20:07,430 --> 00:20:05,280
i i i'm sure it can be but if i'm going

561
00:20:10,230 --> 00:20:07,440
in to appraise the material i'm not

562
00:20:10,630 --> 00:20:10,240
i'm not looking to do any extraordinary

563
00:20:13,590 --> 00:20:10,640
things

564
00:20:14,789 --> 00:20:13,600
to try to restore something it's just uh

565
00:20:17,190 --> 00:20:14,799
or people will take

566
00:20:19,110 --> 00:20:17,200
you know grandpa collected stamps and

567
00:20:19,990 --> 00:20:19,120
and they take the box of stamps and they

568
00:20:21,669 --> 00:20:20,000
put them in the basement

569
00:20:23,669 --> 00:20:21,679
the basement is damp and sure and there

570
00:20:26,149 --> 00:20:23,679
are problems

571
00:20:27,830 --> 00:20:26,159
there's a flood well paper and water

572
00:20:31,029 --> 00:20:27,840
don't do very well together

573
00:20:34,149 --> 00:20:31,039
yeah so how many would you say if

574
00:20:34,950 --> 00:20:34,159
i'm sure it it's like uh in the antique

575
00:20:37,750 --> 00:20:34,960
business you know

576
00:20:38,070 --> 00:20:37,760
you say you get the sewing machine call

577
00:20:39,590 --> 00:20:38,080
and

578
00:20:41,430 --> 00:20:39,600
so many people because there were so

579
00:20:44,390 --> 00:20:41,440
many darn sewing machines uh

580
00:20:46,310 --> 00:20:44,400
treadle sewing machines made the

581
00:20:47,669 --> 00:20:46,320
household usually had two they lasted

582
00:20:49,510 --> 00:20:47,679
forever they're still there

583
00:20:50,549 --> 00:20:49,520
so people call you i have this wonderful

584
00:20:51,909 --> 00:20:50,559
sewing machine you have to tell them

585
00:20:53,909 --> 00:20:51,919
it's worth twenty five dollars

586
00:20:55,990 --> 00:20:53,919
that that's how many of the sewing

587
00:20:59,190 --> 00:20:56,000
machines stamp related calls

588
00:21:02,470 --> 00:20:59,200
do you get a year uh

589
00:21:05,669 --> 00:21:02,480
out of probably 99 out of 100

590
00:21:08,630 --> 00:21:05,679
are those kinds of things because people

591
00:21:10,630 --> 00:21:08,640
generally if they were collecting stamps

592
00:21:12,549 --> 00:21:10,640
probably started as a kid like i did

593
00:21:14,710 --> 00:21:12,559
didn't have a whole lot of money so they

594
00:21:17,750 --> 00:21:14,720
were saving you stamps

595
00:21:18,870 --> 00:21:17,760
that have been cancelled to sell mail or

596
00:21:21,029 --> 00:21:18,880
packages

597
00:21:22,310 --> 00:21:21,039
and and that means they're going to be

598
00:21:25,350 --> 00:21:22,320
less valuable

599
00:21:27,590 --> 00:21:25,360
think of the the concept that the

600
00:21:30,789 --> 00:21:27,600
further back you go in time

601
00:21:34,070 --> 00:21:30,799
the the less population there was and

602
00:21:36,750 --> 00:21:34,080
and commerce was significantly less

603
00:21:38,070 --> 00:21:36,760
in the united states it wasn't until

604
00:21:40,789 --> 00:21:38,080
1892

605
00:21:42,870 --> 00:21:40,799
that we made a stamp that had a face

606
00:21:44,149 --> 00:21:42,880
value of over 90 cents

607
00:21:45,669 --> 00:21:44,159
and that was for the colombian

608
00:21:47,350 --> 00:21:45,679
exposition and they made commemorative

609
00:21:48,870 --> 00:21:47,360
stamps and the high values were one two

610
00:21:51,029 --> 00:21:48,880
three four and five dollar stamps

611
00:21:52,310 --> 00:21:51,039
well think about what you would be doing

612
00:21:55,590 --> 00:21:52,320
as just a

613
00:21:56,470 --> 00:21:55,600
a grunt worker in 1892 and how long it

614
00:21:59,029 --> 00:21:56,480
would take you to

615
00:21:59,510 --> 00:21:59,039
make five dollars to buy a stamp and

616
00:22:01,350 --> 00:21:59,520
then

617
00:22:03,190 --> 00:22:01,360
what would you have to send that would

618
00:22:04,950 --> 00:22:03,200
be worth five bucks

619
00:22:06,630 --> 00:22:04,960
when it only cost a penny or two to send

620
00:22:09,669 --> 00:22:06,640
a postcard or a letter

621
00:22:12,230 --> 00:22:09,679
and so so the the

622
00:22:13,190 --> 00:22:12,240
more valuable stamps any from any

623
00:22:14,630 --> 00:22:13,200
country in the world

624
00:22:16,789 --> 00:22:14,640
are going to be number one your higher

625
00:22:17,909 --> 00:22:16,799
values number two the stamps that were

626
00:22:20,470 --> 00:22:17,919
never used

627
00:22:22,310 --> 00:22:20,480
number three stamps that have original

628
00:22:23,270 --> 00:22:22,320
gum on the back and have never had a

629
00:22:25,350 --> 00:22:23,280
hinge

630
00:22:26,630 --> 00:22:25,360
uh placed on it to get stuck into an

631
00:22:29,110 --> 00:22:26,640
album and so

632
00:22:31,190 --> 00:22:29,120
there's a lot of issues is the centering

633
00:22:32,390 --> 00:22:31,200
good what are the perforations look like

634
00:22:34,789 --> 00:22:32,400
because remember stamps

635
00:22:35,669 --> 00:22:34,799
in those days were made in sheets of 50

636
00:22:38,390 --> 00:22:35,679
or 100

637
00:22:39,590 --> 00:22:38,400
and you had to rip them apart but stamps

638
00:22:40,549 --> 00:22:39,600
for example the first stamp in the

639
00:22:44,149 --> 00:22:40,559
united states was

640
00:22:47,669 --> 00:22:44,159
wasn't made until 1847 and we

641
00:22:49,510 --> 00:22:47,679
started making coins in 1793 so before

642
00:22:51,510 --> 00:22:49,520
1847 in the states

643
00:22:53,510 --> 00:22:51,520
you'd go to the post office and you'd

644
00:22:57,110 --> 00:22:53,520
say you want to send a stamp to

645
00:22:58,390 --> 00:22:57,120
seamless cover to florida's florida and

646
00:23:00,470 --> 00:22:58,400
the postmaster would say it was going to

647
00:23:02,070 --> 00:23:00,480
cost you three cents you'd give the guy

648
00:23:03,750 --> 00:23:02,080
three cents and he would write a three

649
00:23:06,789 --> 00:23:03,760
on it and stamp it and it would go off

650
00:23:08,789 --> 00:23:06,799
as you say yes those covers yeah yeah

651
00:23:10,070 --> 00:23:08,799
let me uh let me ask you this that

652
00:23:12,149 --> 00:23:10,080
though uh

653
00:23:13,510 --> 00:23:12,159
is this one of the no that's a five cent

654
00:23:16,549 --> 00:23:13,520
stamp so that's not what no that's

655
00:23:17,590 --> 00:23:16,559
that actually is is a sample of a number

656
00:23:19,430 --> 00:23:17,600
one stamp

657
00:23:21,350 --> 00:23:19,440
the scott stamp company in the late

658
00:23:23,430 --> 00:23:21,360
1800s came up with a

659
00:23:25,029 --> 00:23:23,440
categorizing system and a cataloging

660
00:23:27,110 --> 00:23:25,039
system the first stamp

661
00:23:29,190 --> 00:23:27,120
issued by any country anywhere in the

662
00:23:29,830 --> 00:23:29,200
world is the number one stamp from that

663
00:23:31,750 --> 00:23:29,840
country

664
00:23:33,909 --> 00:23:31,760
and this would be a us number one with

665
00:23:35,029 --> 00:23:33,919
ben franklin and then the number two

666
00:23:37,669 --> 00:23:35,039
stamp that would have

667
00:23:39,350 --> 00:23:37,679
x on it for the roman numeral 10 a 10

668
00:23:42,390 --> 00:23:39,360
cent stamp

669
00:23:46,549 --> 00:23:42,400
has george washington on it oh okay

670
00:23:49,430 --> 00:23:46,559
let's talk about this because

671
00:23:50,950 --> 00:23:49,440
i remember when this i don't know if

672
00:23:52,950 --> 00:23:50,960
it's this exact stamp

673
00:23:54,710 --> 00:23:52,960
but when boy did that ever make waves

674
00:23:55,190 --> 00:23:54,720
and let's talk about this stamp again

675
00:23:57,430 --> 00:23:55,200
now

676
00:23:58,310 --> 00:23:57,440
if you're listening just to the audio uh

677
00:24:01,990 --> 00:23:58,320
this is the

678
00:24:05,990 --> 00:24:02,000
upside down biplane 24 cent stamp

679
00:24:06,310 --> 00:24:06,000
yes the the the uh cataloging number for

680
00:24:10,390 --> 00:24:06,320
this

681
00:24:12,390 --> 00:24:10,400
is a c3 c is the category

682
00:24:14,310 --> 00:24:12,400
that anywhere in the world an airmail

683
00:24:15,590 --> 00:24:14,320
stamp would have the prefix a big

684
00:24:18,710 --> 00:24:15,600
capital letter c

685
00:24:21,510 --> 00:24:18,720
and this 24 cent stamp was the third

686
00:24:22,870 --> 00:24:21,520
stamp issued by the united states as an

687
00:24:25,190 --> 00:24:22,880
airmail stamp

688
00:24:26,630 --> 00:24:25,200
there was one sheet that at the bureau

689
00:24:28,149 --> 00:24:26,640
of engraving and printing that

690
00:24:30,310 --> 00:24:28,159
inadvertently

691
00:24:32,149 --> 00:24:30,320
went through upside down if you'll

692
00:24:33,350 --> 00:24:32,159
notice there's red printing and there's

693
00:24:35,909 --> 00:24:33,360
blue printing

694
00:24:37,350 --> 00:24:35,919
so that was not done at the same time

695
00:24:40,149 --> 00:24:37,360
like we could do today

696
00:24:40,870 --> 00:24:40,159
every time you added a color in in the

697
00:24:42,789 --> 00:24:40,880
20s

698
00:24:44,549 --> 00:24:42,799
to a stamp process you had to run it

699
00:24:45,990 --> 00:24:44,559
through the press a second or a third or

700
00:24:49,430 --> 00:24:46,000
a fourth time

701
00:24:51,669 --> 00:24:49,440
so so it ran it ran through with the red

702
00:24:52,549 --> 00:24:51,679
first and then the sheet got turned

703
00:24:59,510 --> 00:24:52,559
upside down

704
00:25:01,430 --> 00:24:59,520
and uh somebody in philadelphia

705
00:25:03,590 --> 00:25:01,440
bought that sheet who happened to be a

706
00:25:04,870 --> 00:25:03,600
stamp dealer and recognized what the

707
00:25:07,669 --> 00:25:04,880
problem was

708
00:25:09,590 --> 00:25:07,679
and what he did was in the upper left

709
00:25:10,950 --> 00:25:09,600
hand corner remember this is a sheet of

710
00:25:13,830 --> 00:25:10,960
100 stamps

711
00:25:15,590 --> 00:25:13,840
he in pencil wrote on each stamp the

712
00:25:19,029 --> 00:25:15,600
number from left to right so

713
00:25:19,669 --> 00:25:19,039
in the in the in the top block of ten

714
00:25:21,669 --> 00:25:19,679
stamps

715
00:25:22,870 --> 00:25:21,679
again being left to right he started

716
00:25:24,310 --> 00:25:22,880
with number one

717
00:25:26,149 --> 00:25:24,320
the far right stamp would have been

718
00:25:27,190 --> 00:25:26,159
number ten and if you went all the way

719
00:25:29,750 --> 00:25:27,200
to the very

720
00:25:31,110 --> 00:25:29,760
bottom on the far right that would be

721
00:25:34,470 --> 00:25:31,120
number 100

722
00:25:38,230 --> 00:25:34,480
and he he he cut that or he

723
00:25:39,350 --> 00:25:38,240
he separated that out into individual

724
00:25:42,870 --> 00:25:39,360
stamps

725
00:25:44,950 --> 00:25:42,880
and into blocks or plate blocks that

726
00:25:46,390 --> 00:25:44,960
have the number in the corner on it and

727
00:25:49,750 --> 00:25:46,400
he sold them

728
00:25:50,549 --> 00:25:49,760
and we had the incredible incredible

729
00:25:53,750 --> 00:25:50,559
luck

730
00:25:54,549 --> 00:25:53,760
to find one of these in an album under a

731
00:25:57,909 --> 00:25:54,559
bed

732
00:25:59,510 --> 00:25:57,919
in concord new hampshire in 1995 and it

733
00:26:01,669 --> 00:25:59,520
actually was one of the lost

734
00:26:03,750 --> 00:26:01,679
lost stamps at that time there was

735
00:26:04,870 --> 00:26:03,760
stamps that were unknown out of the

736
00:26:07,750 --> 00:26:04,880
original hundred

737
00:26:08,950 --> 00:26:07,760
and this was position number 73 so it

738
00:26:11,669 --> 00:26:08,960
had the number on it

739
00:26:14,149 --> 00:26:11,679
it had 73 on it and it was documented

740
00:26:15,830 --> 00:26:14,159
that number 73 had been missing since

741
00:26:17,669 --> 00:26:15,840
the early 1930s

742
00:26:19,269 --> 00:26:17,679
but what happened was the guy that

743
00:26:22,190 --> 00:26:19,279
bought it uh

744
00:26:23,669 --> 00:26:22,200
it was in his estate and he bought it in

745
00:26:26,950 --> 00:26:23,679
1928

746
00:26:28,390 --> 00:26:26,960
from an auction company that went belly

747
00:26:29,909 --> 00:26:28,400
up during the depression

748
00:26:31,510 --> 00:26:29,919
and he just kept it and though so there

749
00:26:32,230 --> 00:26:31,520
was no record as to who bought it and

750
00:26:33,990 --> 00:26:32,240
where it went

751
00:26:35,669 --> 00:26:34,000
he never displayed it he never showed it

752
00:26:38,789 --> 00:26:35,679
he just kept it in his album

753
00:26:41,269 --> 00:26:38,799
wow and so you just never know now it

754
00:26:43,110 --> 00:26:41,279
was a situation where we specifically

755
00:26:44,870 --> 00:26:43,120
didn't sell it we actually placed with a

756
00:26:47,750 --> 00:26:44,880
major international

757
00:26:48,149 --> 00:26:47,760
auction company uh because at the time

758
00:26:51,029 --> 00:26:48,159
you know

759
00:26:51,590 --> 00:26:51,039
we're going back 25 years ago i didn't

760
00:26:53,909 --> 00:26:51,600
feel

761
00:26:54,630 --> 00:26:53,919
that we had the market in new hampshire

762
00:26:56,470 --> 00:26:54,640
then

763
00:26:58,470 --> 00:26:56,480
that we would have now to be able to

764
00:26:59,269 --> 00:26:58,480
sell it yeah and i needed to do my due

765
00:27:02,149 --> 00:26:59,279
diligence and

766
00:27:03,350 --> 00:27:02,159
and recommend uh what was in the best

767
00:27:06,230 --> 00:27:03,360
interest of my clients

768
00:27:08,789 --> 00:27:06,240
it actually sold then for 88 000 it's

769
00:27:12,230 --> 00:27:08,799
worth closer to 200 000 today

770
00:27:13,430 --> 00:27:12,240
wow uh amazing and and i i do want to

771
00:27:17,190 --> 00:27:13,440
commend you for that

772
00:27:20,630 --> 00:27:17,200
um sometimes it's hard to uh

773
00:27:21,669 --> 00:27:20,640
when it comes to ego to do that decision

774
00:27:24,149 --> 00:27:21,679
that you did

775
00:27:25,029 --> 00:27:24,159
but i'm telling you um i've done it a

776
00:27:26,950 --> 00:27:25,039
few times

777
00:27:29,510 --> 00:27:26,960
and i've never regretted it because

778
00:27:31,909 --> 00:27:29,520
you're you're working for the client

779
00:27:32,870 --> 00:27:31,919
um and this is why people can trust you

780
00:27:35,830 --> 00:27:32,880
because you

781
00:27:37,029 --> 00:27:35,840
are there to get them the best money

782
00:27:38,950 --> 00:27:37,039
what we're hired to do

783
00:27:40,630 --> 00:27:38,960
when we go in a situation like that

784
00:27:42,710 --> 00:27:40,640
we're not hired to go in there and say

785
00:27:44,630 --> 00:27:42,720
hey i'll give you 50 bucks for this

786
00:27:47,029 --> 00:27:44,640
we're hired in there to go on a

787
00:27:49,190 --> 00:27:47,039
commission or a fee basis

788
00:27:50,230 --> 00:27:49,200
to try to do the best for the client and

789
00:27:52,870 --> 00:27:50,240
uh

790
00:27:53,909 --> 00:27:52,880
and that's that's a great story i i

791
00:27:55,830 --> 00:27:53,919
thought there was one

792
00:27:57,190 --> 00:27:55,840
wasn't there one that sold for a huge

793
00:27:58,549 --> 00:27:57,200
amount of money am i thinking of a

794
00:28:00,789 --> 00:27:58,559
different stamp

795
00:28:01,990 --> 00:28:00,799
or was that what was it 200 000 was that

796
00:28:05,830 --> 00:28:02,000
the number

797
00:28:07,750 --> 00:28:05,840
i it probably was i think one of the

798
00:28:09,750 --> 00:28:07,760
most recent sales of a jenny was in the

799
00:28:11,750 --> 00:28:09,760
quarter of a million dollar range

800
00:28:12,950 --> 00:28:11,760
okay all right now i want to talk to you

801
00:28:16,149 --> 00:28:12,960
about um

802
00:28:18,389 --> 00:28:16,159
a misconception and uh that is

803
00:28:19,750 --> 00:28:18,399
this i'm pulling this up and it's a

804
00:28:21,830 --> 00:28:19,760
roman coin but

805
00:28:22,950 --> 00:28:21,840
what makes this an exceptional coin is

806
00:28:25,350 --> 00:28:22,960
that it's a roman

807
00:28:27,350 --> 00:28:25,360
gold coin that's correct the what the

808
00:28:30,389 --> 00:28:27,360
misconception i'm i'm

809
00:28:31,350 --> 00:28:30,399
i'm getting at her are talking about is

810
00:28:37,190 --> 00:28:31,360
uh

811
00:28:38,470 --> 00:28:37,200
when someone will i've gotten the phone

812
00:28:39,590 --> 00:28:38,480
call i'm sure you've gotten the phone

813
00:28:42,070 --> 00:28:39,600
call many times

814
00:28:42,630 --> 00:28:42,080
where someone says i have a roman coin

815
00:28:45,909 --> 00:28:42,640
you know it's

816
00:28:47,510 --> 00:28:45,919
2 000 years old or it's 1500 years old

817
00:28:49,669 --> 00:28:47,520
and they're all excited jumping up and

818
00:28:50,870 --> 00:28:49,679
down and then you find out it's worth 40

819
00:28:53,110 --> 00:28:50,880
dollars

820
00:28:54,549 --> 00:28:53,120
if you're lucky if you're lucky if

821
00:28:56,549 --> 00:28:54,559
you're lucky well

822
00:28:57,990 --> 00:28:56,559
what you need to recognize that even

823
00:29:00,230 --> 00:28:58,000
though you know

824
00:29:01,510 --> 00:29:00,240
the greeks and the romans were so long

825
00:29:05,350 --> 00:29:01,520
ago relative to

826
00:29:09,430 --> 00:29:05,360
us uh they were pretty successful

827
00:29:10,710 --> 00:29:09,440
as societies and their economic system

828
00:29:14,230 --> 00:29:10,720
was pretty successful

829
00:29:16,149 --> 00:29:14,240
and they made an awful lot of coins and

830
00:29:17,510 --> 00:29:16,159
i don't think they had banks like we had

831
00:29:19,750 --> 00:29:17,520
them back then

832
00:29:21,190 --> 00:29:19,760
so so people would would store their

833
00:29:23,990 --> 00:29:21,200
coins they'd put them in a

834
00:29:24,230 --> 00:29:24,000
in a jug or some kind of a pottery jar

835
00:29:27,269 --> 00:29:24,240
and

836
00:29:29,669 --> 00:29:27,279
they might bury them in the backyard so

837
00:29:30,710 --> 00:29:29,679
so lots of coins have been dug up over

838
00:29:32,789 --> 00:29:30,720
the years

839
00:29:34,230 --> 00:29:32,799
and things that are dug up especially if

840
00:29:37,269 --> 00:29:34,240
they're not gold if they're

841
00:29:37,669 --> 00:29:37,279
uh bronze coins they don't react well to

842
00:29:39,909 --> 00:29:37,679
dirt

843
00:29:41,830 --> 00:29:39,919
and water and so it's pretty easy to

844
00:29:43,830 --> 00:29:41,840
determine what's a ground recovery

845
00:29:45,110 --> 00:29:43,840
this particular coin is interesting

846
00:29:47,430 --> 00:29:45,120
because uh

847
00:29:49,430 --> 00:29:47,440
if you if you notice from the chin down

848
00:29:52,950 --> 00:29:49,440
to the edge at about

849
00:29:54,789 --> 00:29:52,960
5 30 uh on on the edge of that coin

850
00:29:56,630 --> 00:29:54,799
you will see that this kind of a chunk

851
00:29:58,950 --> 00:29:56,640
that's missing and and

852
00:30:00,870 --> 00:29:58,960
there there are two ways that that chunk

853
00:30:02,070 --> 00:30:00,880
could be missing one is because there

854
00:30:05,430 --> 00:30:02,080
was a problem

855
00:30:08,630 --> 00:30:05,440
in the blank and the the blank wasn't

856
00:30:11,510 --> 00:30:08,640
uh made well and so when the coin was

857
00:30:13,510 --> 00:30:11,520
pressed that piece of metal popped out

858
00:30:16,149 --> 00:30:13,520
or somebody wanted to

859
00:30:17,990 --> 00:30:16,159
determine what the exact alloy was so

860
00:30:20,630 --> 00:30:18,000
they scraped some of the gold out

861
00:30:23,110 --> 00:30:20,640
and and tested it and of course that

862
00:30:26,710 --> 00:30:23,120
diminishes the value when that happens

863
00:30:28,549 --> 00:30:26,720
now what is up a gold coin like this

864
00:30:30,870 --> 00:30:28,559
because it was gold this is what made

865
00:30:32,470 --> 00:30:30,880
this a valuable coin but

866
00:30:33,909 --> 00:30:32,480
what type of value in this particular

867
00:30:36,310 --> 00:30:33,919
one do you remember

868
00:30:37,269 --> 00:30:36,320
uh yeah around fifteen hundred dollars i

869
00:30:40,549 --> 00:30:37,279
mean not

870
00:30:42,630 --> 00:30:40,559
astronomical there there are ancient

871
00:30:43,669 --> 00:30:42,640
gold coins that have sold for over a

872
00:30:45,750 --> 00:30:43,679
million bucks

873
00:30:47,990 --> 00:30:45,760
but there are only one or two known they

874
00:30:49,830 --> 00:30:48,000
have an unusual design on them

875
00:30:51,029 --> 00:30:49,840
maybe it's an emperor maybe it's it's

876
00:30:54,470 --> 00:30:51,039
just a vignette

877
00:30:55,110 --> 00:30:54,480
whatever it might be um but when you get

878
00:30:57,350 --> 00:30:55,120
into the

879
00:30:59,110 --> 00:30:57,360
populations of a particular coin where

880
00:31:01,269 --> 00:30:59,120
let's say there are five or less

881
00:31:02,310 --> 00:31:01,279
some are going to be you know impounded

882
00:31:04,070 --> 00:31:02,320
in a museum

883
00:31:06,470 --> 00:31:04,080
might be in the british museum might be

884
00:31:08,470 --> 00:31:06,480
in in athens in their museum

885
00:31:09,909 --> 00:31:08,480
i see now let me ask you this i do

886
00:31:11,509 --> 00:31:09,919
remember going back to this coin i do

887
00:31:13,029 --> 00:31:11,519
remember as a kid

888
00:31:14,870 --> 00:31:13,039
um i don't know if it was my father or

889
00:31:16,870 --> 00:31:14,880
my grandfather someone told me that

890
00:31:18,710 --> 00:31:16,880
people used to bite gold coins to make

891
00:31:21,190 --> 00:31:18,720
sure they're gold is that

892
00:31:25,750 --> 00:31:21,200
is that uh something you've heard of oh

893
00:31:32,149 --> 00:31:28,950
yeah because it's it's it's pretty easy

894
00:31:34,549 --> 00:31:32,159
to make a counterfeit

895
00:31:35,669 --> 00:31:34,559
gold coin out of lead and yeah because

896
00:31:37,909 --> 00:31:35,679
it's heavy

897
00:31:40,470 --> 00:31:37,919
it has a heavy specific gravity and then

898
00:31:43,590 --> 00:31:40,480
you can can make it look like gold

899
00:31:46,230 --> 00:31:43,600
and so if if you try uh

900
00:31:47,430 --> 00:31:46,240
biting a a coin that's made out of lead

901
00:31:48,950 --> 00:31:47,440
you're going to make a pretty big

902
00:31:50,870 --> 00:31:48,960
impression pretty quickly now

903
00:31:52,310 --> 00:31:50,880
i don't recommend you do that very

904
00:31:53,269 --> 00:31:52,320
awfully and i certainly don't recommend

905
00:31:56,230 --> 00:31:53,279
you eat lead

906
00:31:57,509 --> 00:31:56,240
but it's it is it's something that

907
00:31:59,830 --> 00:31:57,519
people would do

908
00:32:01,029 --> 00:31:59,840
and do you remember you were talking

909
00:32:03,110 --> 00:32:01,039
earlier about you helped me out at the

910
00:32:05,990 --> 00:32:03,120
josiah bartlett auction oh yes

911
00:32:07,190 --> 00:32:06,000
and in his apothecary case he had lead

912
00:32:09,590 --> 00:32:07,200
pills

913
00:32:11,590 --> 00:32:09,600
yes and uh they thought that was a thing

914
00:32:14,950 --> 00:32:11,600
you take is lead pills and this is

915
00:32:16,789 --> 00:32:14,960
you know an early 18th century idea

916
00:32:18,149 --> 00:32:16,799
i don't know when that changed but oh

917
00:32:19,750 --> 00:32:18,159
boy that's really something

918
00:32:21,350 --> 00:32:19,760
well but that's that's the same as

919
00:32:23,350 --> 00:32:21,360
bloodletting and uh yeah

920
00:32:24,470 --> 00:32:23,360
and they did a lot of that yes yeah the

921
00:32:26,149 --> 00:32:24,480
bloodletting was uh

922
00:32:27,990 --> 00:32:26,159
in his uh journal almost every day

923
00:32:29,990 --> 00:32:28,000
there'd be bloodletting that's correct

924
00:32:31,990 --> 00:32:30,000
as a doctor he was a doctor yeah so let

925
00:32:34,789 --> 00:32:32,000
me let me ask you this what are

926
00:32:35,190 --> 00:32:34,799
um what are people you have told me this

927
00:32:39,830 --> 00:32:35,200
uh

928
00:32:41,830 --> 00:32:39,840
long time a couple years ago maybe

929
00:32:43,190 --> 00:32:41,840
that uh there are people out there

930
00:32:46,230 --> 00:32:43,200
trying to get young people

931
00:32:47,590 --> 00:32:46,240
into say collecting stamps by going to

932
00:32:50,149 --> 00:32:47,600
these stamp collections

933
00:32:50,789 --> 00:32:50,159
that are worthless basically and sharing

934
00:32:53,110 --> 00:32:50,799
them with one

935
00:32:55,110 --> 00:32:53,120
young people can you talk about that

936
00:32:56,630 --> 00:32:55,120
well it's actually the same with coins

937
00:32:58,470 --> 00:32:56,640
and as i mentioned earlier

938
00:33:00,710 --> 00:32:58,480
yes pretty much where where you're

939
00:33:04,870 --> 00:33:00,720
looking at trying to come up with

940
00:33:08,070 --> 00:33:04,880
with history uh with stamps uh

941
00:33:11,110 --> 00:33:08,080
you have stamps that that maybe

942
00:33:13,430 --> 00:33:11,120
of c you know pounds of stamps that that

943
00:33:16,149 --> 00:33:13,440
might not be worth very much money

944
00:33:17,590 --> 00:33:16,159
and and sorting through where are the

945
00:33:19,430 --> 00:33:17,600
different countries

946
00:33:20,950 --> 00:33:19,440
what are the countries that may not

947
00:33:23,990 --> 00:33:20,960
exist anymore

948
00:33:27,029 --> 00:33:24,000
uh trying to figure out what the

949
00:33:28,149 --> 00:33:27,039
various different uh british empire and

950
00:33:30,230 --> 00:33:28,159
commonwealth

951
00:33:31,909 --> 00:33:30,240
countries are and where they are i mean

952
00:33:36,870 --> 00:33:31,919
the example that i like to

953
00:33:37,590 --> 00:33:36,880
use is fdr was a stamp collector as a

954
00:33:40,230 --> 00:33:37,600
kid

955
00:33:41,029 --> 00:33:40,240
and so when we started getting close to

956
00:33:43,990 --> 00:33:41,039
world war

957
00:33:46,630 --> 00:33:44,000
ii he was meeting obviously with people

958
00:33:48,870 --> 00:33:46,640
from the pentagon and the military

959
00:33:50,870 --> 00:33:48,880
and they would say well we can get this

960
00:33:53,909 --> 00:33:50,880
warship from point a

961
00:33:54,789 --> 00:33:53,919
to point b being this country to that

962
00:33:57,190 --> 00:33:54,799
island

963
00:33:58,470 --> 00:33:57,200
and and roosevelt will say that's pretty

964
00:34:00,549 --> 00:33:58,480
good how are you going to do it in a day

965
00:34:02,870 --> 00:34:00,559
when they're 5 000 miles apart

966
00:34:04,549 --> 00:34:02,880
so strategically for us during world war

967
00:34:05,590 --> 00:34:04,559
ii was great that he had an idea about

968
00:34:07,430 --> 00:34:05,600
geography

969
00:34:10,069 --> 00:34:07,440
and and that's one of the things that

970
00:34:12,470 --> 00:34:10,079
can be done as a learning tool

971
00:34:13,990 --> 00:34:12,480
where kids aren't even learning or don't

972
00:34:15,430 --> 00:34:14,000
even know that they're learning about

973
00:34:16,550 --> 00:34:15,440
this kind of stuff and it's the same

974
00:34:20,310 --> 00:34:16,560
with coins

975
00:34:21,270 --> 00:34:20,320
what were the pictures of what did the

976
00:34:23,829 --> 00:34:21,280
presidents do

977
00:34:25,430 --> 00:34:23,839
who and when did they serve and when did

978
00:34:26,230 --> 00:34:25,440
they live and what was going on in the

979
00:34:28,149 --> 00:34:26,240
country

980
00:34:30,069 --> 00:34:28,159
when they were in office and it's pretty

981
00:34:31,430 --> 00:34:30,079
easy you know with lincoln on a penny

982
00:34:32,310 --> 00:34:31,440
and jefferson on the nickel and

983
00:34:35,829 --> 00:34:32,320
roosevelt

984
00:34:38,389 --> 00:34:35,839
on the dime washington on the quarter uh

985
00:34:39,109 --> 00:34:38,399
kennedy on the half dollar and now we've

986
00:34:41,270 --> 00:34:39,119
got uh

987
00:34:42,149 --> 00:34:41,280
dollars where you have native americans

988
00:34:44,230 --> 00:34:42,159
and you have

989
00:34:45,190 --> 00:34:44,240
presidential dollars so there's a lot of

990
00:34:48,230 --> 00:34:45,200
things that could be done

991
00:34:51,349 --> 00:34:48,240
very inexpensively where

992
00:34:53,510 --> 00:34:51,359
you can find things the state quarters

993
00:34:55,349 --> 00:34:53,520
the national parks quarters the

994
00:34:56,890 --> 00:34:55,359
territorial quarters

995
00:34:58,550 --> 00:34:56,900
that started in 19

996
00:35:01,430 --> 00:34:58,560
[Music]

997
00:35:02,069 --> 00:35:01,440
in the 1990s well they're they're just

998
00:35:03,670 --> 00:35:02,079
wonderful

999
00:35:06,710 --> 00:35:03,680
tools to learn things because you'll

1000
00:35:09,510 --> 00:35:06,720
find this stuff in circulation

1001
00:35:10,790 --> 00:35:09,520
that that's that's really great and uh

1002
00:35:13,430 --> 00:35:10,800
you know i never really thought of

1003
00:35:14,710 --> 00:35:13,440
of that of you know you know what uh

1004
00:35:17,190 --> 00:35:14,720
what makes things

1005
00:35:19,430 --> 00:35:17,200
so interesting to me and always has is

1006
00:35:22,069 --> 00:35:19,440
the history and the connections

1007
00:35:22,710 --> 00:35:22,079
that um they make and and you just laid

1008
00:35:26,069 --> 00:35:22,720
that out

1009
00:35:28,150 --> 00:35:26,079
perfectly well i mean um you know

1010
00:35:29,349 --> 00:35:28,160
you get to see it's kind of like a

1011
00:35:32,550 --> 00:35:29,359
window into what's

1012
00:35:34,109 --> 00:35:32,560
what's going on and uh well it is i mean

1013
00:35:36,870 --> 00:35:34,119
the first state quarters came out in

1014
00:35:38,870 --> 00:35:36,880
1999 and the first one was from delaware

1015
00:35:41,349 --> 00:35:38,880
and the second was from pennsylvania

1016
00:35:42,020 --> 00:35:41,359
because they were issuing them in order

1017
00:35:43,190 --> 00:35:42,030
from

1018
00:35:46,630 --> 00:35:43,200
[Music]

1019
00:35:47,829 --> 00:35:46,640
what what state or what colony actually

1020
00:35:51,430 --> 00:35:47,839
at that time

1021
00:35:53,670 --> 00:35:51,440
ratified the constitution ah

1022
00:35:55,190 --> 00:35:53,680
here's here's a good example oh that's

1023
00:35:56,950 --> 00:35:55,200
me yes go ahead

1024
00:35:58,550 --> 00:35:56,960
uh yeah here's a good example of a

1025
00:36:00,630 --> 00:35:58,560
native american on

1026
00:36:01,910 --> 00:36:00,640
i don't believe i've ever seen this

1027
00:36:04,310 --> 00:36:01,920
particular bill

1028
00:36:05,030 --> 00:36:04,320
before and that is that is one of the

1029
00:36:07,829 --> 00:36:05,040
two most

1030
00:36:09,990 --> 00:36:07,839
popular large-sized pieces of paper

1031
00:36:12,230 --> 00:36:10,000
money that's an 1899

1032
00:36:13,829 --> 00:36:12,240
five dollar silver certificate and and

1033
00:36:16,230 --> 00:36:13,839
chief any papa

1034
00:36:17,190 --> 00:36:16,240
is the image that's on that silver

1035
00:36:19,270 --> 00:36:17,200
certificate

1036
00:36:20,550 --> 00:36:19,280
and it's just paper money collectors

1037
00:36:24,550 --> 00:36:20,560
just love that

1038
00:36:27,349 --> 00:36:24,560
and people that like americana love that

1039
00:36:29,190 --> 00:36:27,359
uh when i say a large size bill the kind

1040
00:36:32,069 --> 00:36:29,200
of money we keep on our wallets today

1041
00:36:33,349 --> 00:36:32,079
are small notes what was happening

1042
00:36:37,270 --> 00:36:33,359
during the economic

1043
00:36:39,829 --> 00:36:37,280
expansion of the 20s is we were printing

1044
00:36:40,470 --> 00:36:39,839
so many of those bills which have the

1045
00:36:42,069 --> 00:36:40,480
nickname

1046
00:36:44,710 --> 00:36:42,079
horse blanket doesn't matter what the

1047
00:36:48,310 --> 00:36:44,720
denomination they were the large size

1048
00:36:52,069 --> 00:36:48,320
wow and they fit in in large large uh

1049
00:36:53,589 --> 00:36:52,079
wallets and and it was costing too much

1050
00:36:53,990 --> 00:36:53,599
money for the bureau of engraving and

1051
00:36:55,910 --> 00:36:54,000
printing

1052
00:36:57,829 --> 00:36:55,920
to print them so they came up with the

1053
00:37:00,630 --> 00:36:57,839
smaller size design

1054
00:37:01,990 --> 00:37:00,640
and they started working on that in 1927

1055
00:37:04,630 --> 00:37:02,000
in 1928

1056
00:37:06,630 --> 00:37:04,640
so what did the government do in 1929

1057
00:37:08,550 --> 00:37:06,640
they introduced the small size note

1058
00:37:10,310 --> 00:37:08,560
and we go into a depression and we don't

1059
00:37:12,710 --> 00:37:10,320
need any money at all because nobody's

1060
00:37:15,510 --> 00:37:12,720
working

1061
00:37:16,790 --> 00:37:15,520
uh but slowly and there was a there was

1062
00:37:18,150 --> 00:37:16,800
big pushback by the

1063
00:37:20,390 --> 00:37:18,160
by the people in the country because

1064
00:37:23,109 --> 00:37:20,400
they really like the old old

1065
00:37:23,910 --> 00:37:23,119
big notes but eventually the old notes

1066
00:37:25,910 --> 00:37:23,920
like that

1067
00:37:27,829 --> 00:37:25,920
got taken out of circulation and the new

1068
00:37:31,589 --> 00:37:27,839
notes as we know them today

1069
00:37:33,589 --> 00:37:31,599
uh came into being now um let me ask you

1070
00:37:34,790 --> 00:37:33,599
this and i know we're you know we're

1071
00:37:35,750 --> 00:37:34,800
we'll go a little bit longer if it's

1072
00:37:39,510 --> 00:37:35,760
okay with you

1073
00:37:42,790 --> 00:37:39,520
that's fine what is the largest um

1074
00:37:44,310 --> 00:37:42,800
note that was you know was it i i know

1075
00:37:45,829 --> 00:37:44,320
there's thousand dollar bills but

1076
00:37:47,829 --> 00:37:45,839
were there bills that were printed in

1077
00:37:48,950 --> 00:37:47,839
the us that were actually larger than a

1078
00:37:50,470 --> 00:37:48,960
thousand dollar bill

1079
00:37:52,390 --> 00:37:50,480
yeah believe it or not the largest

1080
00:37:53,109 --> 00:37:52,400
denomination bill was a hundred thousand

1081
00:37:55,750 --> 00:37:53,119
dollars

1082
00:37:57,349 --> 00:37:55,760
a hundred thousand yeah but those didn't

1083
00:38:00,470 --> 00:37:57,359
circulate

1084
00:38:02,790 --> 00:38:00,480
i can see why you're not going to go to

1085
00:38:04,790 --> 00:38:02,800
walmart with a you know no those those

1086
00:38:06,390 --> 00:38:04,800
those were used for bank to bank uh

1087
00:38:07,510 --> 00:38:06,400
transfers yeah

1088
00:38:09,030 --> 00:38:07,520
well what about the ones that were

1089
00:38:10,150 --> 00:38:09,040
circulated what's the largest bill that

1090
00:38:12,390 --> 00:38:10,160
was circulated

1091
00:38:14,550 --> 00:38:12,400
generally the largest bill bills were

1092
00:38:14,870 --> 00:38:14,560
the 500 and the thousand dollar bills

1093
00:38:17,510 --> 00:38:14,880
and

1094
00:38:18,150 --> 00:38:17,520
uh richard nixon when he was president

1095
00:38:21,030 --> 00:38:18,160
uh

1096
00:38:22,950 --> 00:38:21,040
stop them from from being printed and

1097
00:38:25,430 --> 00:38:22,960
being used in circulation

1098
00:38:27,510 --> 00:38:25,440
uh because of basically money laundering

1099
00:38:29,829 --> 00:38:27,520
that started back in the 60s

1100
00:38:31,430 --> 00:38:29,839
wow i want to talk about this and and i

1101
00:38:32,550 --> 00:38:31,440
also want to tell people on the audio

1102
00:38:35,750 --> 00:38:32,560
podcast

1103
00:38:38,630 --> 00:38:35,760
that i'm going to link um steven's

1104
00:38:40,150 --> 00:38:38,640
uh website on this podcast you can and

1105
00:38:42,950 --> 00:38:40,160
i'll put some pictures in too

1106
00:38:45,589 --> 00:38:42,960
but right now we're uh planted on this

1107
00:38:48,630 --> 00:38:45,599
amazing condition on this 1915

1108
00:38:49,750 --> 00:38:48,640
um indian head uh buffalo nickel let's

1109
00:38:53,670 --> 00:38:49,760
talk about that was that

1110
00:38:54,870 --> 00:38:53,680
was that a uh it's a 1913 even though if

1111
00:38:57,430 --> 00:38:54,880
you're looking at it

1112
00:38:58,710 --> 00:38:57,440
kind of at a glance it does look like

1113
00:39:00,790 --> 00:38:58,720
1915.

1114
00:39:03,430 --> 00:39:00,800
it turns out that came out of that time

1115
00:39:06,950 --> 00:39:03,440
capsule collection from the 1913

1116
00:39:09,349 --> 00:39:06,960
proof set and you'll

1117
00:39:11,750 --> 00:39:09,359
see if you're looking at this visually

1118
00:39:14,230 --> 00:39:11,760
you will see the plastic prongs

1119
00:39:15,910 --> 00:39:14,240
we had all of those proof sets

1120
00:39:18,550 --> 00:39:15,920
professionally graded

1121
00:39:19,030 --> 00:39:18,560
by one of the major grading services and

1122
00:39:20,630 --> 00:39:19,040
and

1123
00:39:22,470 --> 00:39:20,640
because we needed to protect them we

1124
00:39:24,550 --> 00:39:22,480
didn't want to take a chance of people

1125
00:39:26,630 --> 00:39:24,560
putting getting fingerprints on them or

1126
00:39:27,750 --> 00:39:26,640
or damaging them or dropping them on the

1127
00:39:30,710 --> 00:39:27,760
floor so they're

1128
00:39:31,910 --> 00:39:30,720
in those holders it turns out that that

1129
00:39:36,069 --> 00:39:31,920
is the finest

1130
00:39:37,430 --> 00:39:36,079
known 1913 liberty nickel and we ended

1131
00:39:38,470 --> 00:39:37,440
up getting close to a hundred thousand

1132
00:39:40,829 --> 00:39:38,480
dollars for that one

1133
00:39:42,069 --> 00:39:40,839
you mean buffalo nickel i'm sorry yes i

1134
00:39:43,750 --> 00:39:42,079
apologize

1135
00:39:45,109 --> 00:39:43,760
yeah so let me let me ask you this i

1136
00:39:48,230 --> 00:39:45,119
think this is a very good

1137
00:39:49,829 --> 00:39:48,240
uh point to bring up um you may say it's

1138
00:39:52,870 --> 00:39:49,839
not but i think it is

1139
00:39:54,630 --> 00:39:52,880
uh i noticed when you uh let's see when

1140
00:39:57,270 --> 00:39:54,640
we brought up this coin

1141
00:39:58,150 --> 00:39:57,280
uh i just had it up there before the

1142
00:40:00,230 --> 00:39:58,160
condition

1143
00:40:02,069 --> 00:40:00,240
of the coin you showed where there was a

1144
00:40:02,710 --> 00:40:02,079
shadow where the quarter was on top of

1145
00:40:10,069 --> 00:40:02,720
it

1146
00:40:13,190 --> 00:40:10,079
rare

1147
00:40:15,510 --> 00:40:13,200
it's just like uh i guess the the the

1148
00:40:18,710 --> 00:40:15,520
analysis or analogy that i would use

1149
00:40:20,550 --> 00:40:18,720
is you if you saw a piece of dust on the

1150
00:40:22,230 --> 00:40:20,560
mona lisa in the louvre you wouldn't

1151
00:40:24,069 --> 00:40:22,240
walk up with a bottle of windex and a

1152
00:40:26,309 --> 00:40:24,079
rag and tried to take it off

1153
00:40:27,990 --> 00:40:26,319
it's just it's just you want to keep

1154
00:40:30,630 --> 00:40:28,000
things original

1155
00:40:32,390 --> 00:40:30,640
and with coins it's paramount that

1156
00:40:35,589 --> 00:40:32,400
toning that you saw was

1157
00:40:38,870 --> 00:40:35,599
from 125 years

1158
00:40:39,589 --> 00:40:38,880
of sitting in an envelope not going

1159
00:40:42,710 --> 00:40:39,599
anywhere

1160
00:40:43,990 --> 00:40:42,720
and because we didn't have acid free

1161
00:40:45,990 --> 00:40:44,000
archival

1162
00:40:47,270 --> 00:40:46,000
paper back then and who cared it was

1163
00:40:49,270 --> 00:40:47,280
worth it cost

1164
00:40:51,109 --> 00:40:49,280
like a dollar and five cents in those

1165
00:40:52,630 --> 00:40:51,119
days to buy that coin from the mint in

1166
00:40:56,309 --> 00:40:52,640
1895

1167
00:40:59,589 --> 00:40:56,319
uh so the acid that was in the paper

1168
00:41:02,630 --> 00:40:59,599
caused the toning from direct contact

1169
00:41:05,190 --> 00:41:02,640
yeah and wow so yeah i mean

1170
00:41:05,990 --> 00:41:05,200
i i remember uh when i first started

1171
00:41:07,270 --> 00:41:06,000
collecting coins

1172
00:41:09,109 --> 00:41:07,280
and and we're talking about i had a

1173
00:41:09,829 --> 00:41:09,119
paper route very young like nine years

1174
00:41:12,550 --> 00:41:09,839
old

1175
00:41:14,069 --> 00:41:12,560
and um there was uh you know you always

1176
00:41:14,870 --> 00:41:14,079
wonder what how people get into

1177
00:41:17,990 --> 00:41:14,880
collecting

1178
00:41:19,910 --> 00:41:18,000
yes in this particular case um

1179
00:41:21,430 --> 00:41:19,920
there was this elderly couple with no

1180
00:41:23,510 --> 00:41:21,440
children and

1181
00:41:25,030 --> 00:41:23,520
they used to pay it was 50 cents a week

1182
00:41:25,990 --> 00:41:25,040
for the newspaper the portsmouth herald

1183
00:41:27,270 --> 00:41:26,000
newspaper

1184
00:41:29,270 --> 00:41:27,280
i think if that's what it was something

1185
00:41:32,870 --> 00:41:29,280
like that but they always paid me

1186
00:41:35,510 --> 00:41:32,880
in their coin collection and old coins

1187
00:41:37,510 --> 00:41:35,520
and that started me collecting i mean i

1188
00:41:38,950 --> 00:41:37,520
just fell in love with it you know

1189
00:41:41,030 --> 00:41:38,960
every single week i look forward to

1190
00:41:43,910 --> 00:41:41,040
going to their house um yeah

1191
00:41:44,710 --> 00:41:43,920
but i i also would like to add martin

1192
00:41:47,349 --> 00:41:44,720
that

1193
00:41:48,069 --> 00:41:47,359
under no circumstances for any reason

1194
00:41:50,710 --> 00:41:48,079
whatsoever

1195
00:41:51,990 --> 00:41:50,720
should you attempt to clean a coin yeah

1196
00:41:54,069 --> 00:41:52,000
if you can't read a date

1197
00:41:56,230 --> 00:41:54,079
you don't take a pencil eraser you don't

1198
00:41:59,190 --> 00:41:56,240
take silver or copper polish

1199
00:42:01,030 --> 00:41:59,200
i have seen too many i was doing it at

1200
00:42:03,349 --> 00:42:01,040
first i was going to mention that

1201
00:42:04,630 --> 00:42:03,359
okay until i learned when i was like 9

1202
00:42:07,190 --> 00:42:04,640
or 10 years old i went to

1203
00:42:08,870 --> 00:42:07,200
the the kitchen cabinet and found some

1204
00:42:10,550 --> 00:42:08,880
you know silver polish and started

1205
00:42:12,150 --> 00:42:10,560
cleaning the coins before i knew any

1206
00:42:12,630 --> 00:42:12,160
better i remember the way it smelled

1207
00:42:16,150 --> 00:42:12,640
alright

1208
00:42:18,069 --> 00:42:16,160
i can still remember um

1209
00:42:19,990 --> 00:42:18,079
but getting it you know taking that

1210
00:42:21,589 --> 00:42:20,000
tarnish off of whatever and it's not a

1211
00:42:23,750 --> 00:42:21,599
good idea it's every time you clean

1212
00:42:27,589 --> 00:42:23,760
something you're removing something

1213
00:42:31,190 --> 00:42:27,599
yes uh i have seen i've seen 25 000

1214
00:42:34,150 --> 00:42:31,200
coins told turned into

1215
00:42:35,510 --> 00:42:34,160
two and three thousand dollar coins wow

1216
00:42:38,390 --> 00:42:35,520
because people have met

1217
00:42:39,270 --> 00:42:38,400
people have messed with them yeah yeah

1218
00:42:42,390 --> 00:42:39,280
and

1219
00:42:44,950 --> 00:42:42,400
say someone has um

1220
00:42:45,990 --> 00:42:44,960
you know like you get the 99 calls and

1221
00:42:48,069 --> 00:42:46,000
one good call

1222
00:42:49,589 --> 00:42:48,079
when it comes to stamps um is there

1223
00:42:51,030 --> 00:42:49,599
anything in particular you could tell

1224
00:42:53,270 --> 00:42:51,040
someone if they're just curious

1225
00:42:54,309 --> 00:42:53,280
hey maybe dad's stamps are worth

1226
00:42:56,470 --> 00:42:54,319
something or

1227
00:42:57,670 --> 00:42:56,480
uh i think it's much easier with coins

1228
00:42:59,190 --> 00:42:57,680
for someone to figure out if they have

1229
00:43:01,589 --> 00:42:59,200
something of value

1230
00:43:02,390 --> 00:43:01,599
um maybe i'm wrong with that but no

1231
00:43:06,390 --> 00:43:02,400
you're not

1232
00:43:07,030 --> 00:43:06,400
how have they been preserved over the

1233
00:43:09,910 --> 00:43:07,040
years

1234
00:43:10,710 --> 00:43:09,920
if they're in albums what kind of album

1235
00:43:12,710 --> 00:43:10,720
are they

1236
00:43:13,910 --> 00:43:12,720
uh albums that were designed for

1237
00:43:16,390 --> 00:43:13,920
children and

1238
00:43:17,190 --> 00:43:16,400
collectors that did not have a whole lot

1239
00:43:19,670 --> 00:43:17,200
of money

1240
00:43:21,430 --> 00:43:19,680
don't have spaces for high value stamps

1241
00:43:22,470 --> 00:43:21,440
because it would be very frustrating for

1242
00:43:24,710 --> 00:43:22,480
a kid they couldn't

1243
00:43:25,990 --> 00:43:24,720
they couldn't partially fill up a page

1244
00:43:27,430 --> 00:43:26,000
because the page

1245
00:43:29,910 --> 00:43:27,440
didn't have any stamps that they could

1246
00:43:33,030 --> 00:43:29,920
afford or that they could find

1247
00:43:33,750 --> 00:43:33,040
and so the title of the album what it

1248
00:43:35,990 --> 00:43:33,760
looks like

1249
00:43:37,990 --> 00:43:36,000
when it was printed all would tell me

1250
00:43:39,990 --> 00:43:38,000
and i do this kind of forensic

1251
00:43:41,829 --> 00:43:40,000
stuff over the phone with people that

1252
00:43:44,309 --> 00:43:41,839
say well i've got this big collection

1253
00:43:45,910 --> 00:43:44,319
and before i want to go to the house i

1254
00:43:47,750 --> 00:43:45,920
want to know what they have so they'll

1255
00:43:49,910 --> 00:43:47,760
tell me well the album is red

1256
00:43:51,349 --> 00:43:49,920
or the album is green what and i will

1257
00:43:52,630 --> 00:43:51,359
ask what does it say on front of it what

1258
00:43:54,550 --> 00:43:52,640
does it say on the side of it

1259
00:43:56,710 --> 00:43:54,560
when you open it up what does the front

1260
00:43:58,470 --> 00:43:56,720
page say what's the date on it

1261
00:43:59,750 --> 00:43:58,480
you know who who printed it who's the

1262
00:44:01,349 --> 00:43:59,760
manufacturer

1263
00:44:03,430 --> 00:44:01,359
and if you've been around this long

1264
00:44:04,950 --> 00:44:03,440
enough you know what the albums that

1265
00:44:07,030 --> 00:44:04,960
should have good stamps in and don't

1266
00:44:10,230 --> 00:44:07,040
have good stamps then what you do

1267
00:44:12,230 --> 00:44:10,240
is is you go to the pages where where

1268
00:44:12,790 --> 00:44:12,240
there should be valuable stamps and if

1269
00:44:15,030 --> 00:44:12,800
the

1270
00:44:16,950 --> 00:44:15,040
if a page is full and i remember one

1271
00:44:17,589 --> 00:44:16,960
time you sent me somewhere that had a

1272
00:44:20,390 --> 00:44:17,599
very nice

1273
00:44:21,910 --> 00:44:20,400
canadian collection and i opened it up

1274
00:44:23,030 --> 00:44:21,920
and all the good stamps were in there

1275
00:44:26,150 --> 00:44:23,040
that was pretty neat

1276
00:44:28,790 --> 00:44:26,160
because you don't see that a lot

1277
00:44:30,230 --> 00:44:28,800
and but if you have a bunch of stamps

1278
00:44:32,470 --> 00:44:30,240
that have been ripped off the corner of

1279
00:44:34,150 --> 00:44:32,480
an envelope and thrown into an old cigar

1280
00:44:36,630 --> 00:44:34,160
box or a shoebox

1281
00:44:37,190 --> 00:44:36,640
you don't have very much there that's

1282
00:44:43,510 --> 00:44:37,200
probably

1283
00:44:44,470 --> 00:44:43,520
uh the wallpaper again uh let's uh yeah

1284
00:44:46,069 --> 00:44:44,480
let

1285
00:44:47,910 --> 00:44:46,079
just one the last thing i'd like to talk

1286
00:44:51,430 --> 00:44:47,920
to you about is okay

1287
00:44:53,589 --> 00:44:51,440
so now you're in a house and people

1288
00:44:55,349 --> 00:44:53,599
want to sell their things can you walk

1289
00:44:57,510 --> 00:44:55,359
the listening audience how

1290
00:44:59,109 --> 00:44:57,520
you go through the whole process and it

1291
00:45:00,069 --> 00:44:59,119
goes to auction what you do to put it in

1292
00:45:02,069 --> 00:45:00,079
your auction

1293
00:45:03,750 --> 00:45:02,079
and uh because i think it's a lot of

1294
00:45:05,510 --> 00:45:03,760
people just don't know

1295
00:45:07,750 --> 00:45:05,520
how that process works i have to explain

1296
00:45:09,430 --> 00:45:07,760
it to people i'm sure you do too

1297
00:45:10,950 --> 00:45:09,440
all the time but the first thing that i

1298
00:45:12,950 --> 00:45:10,960
will do is i will make sure that any

1299
00:45:14,790 --> 00:45:12,960
coins that need to be protective go in

1300
00:45:17,109 --> 00:45:14,800
the proper holders before they

1301
00:45:18,309 --> 00:45:17,119
get moved anywhere because most of the

1302
00:45:20,150 --> 00:45:18,319
time i'll go in

1303
00:45:22,390 --> 00:45:20,160
to a house and they will have laid out

1304
00:45:25,430 --> 00:45:22,400
the collection on the dining room table

1305
00:45:26,309 --> 00:45:25,440
and and you you want to make sure that

1306
00:45:29,190 --> 00:45:26,319
the

1307
00:45:29,990 --> 00:45:29,200
500 and thousand dollar coin aren't

1308
00:45:31,750 --> 00:45:30,000
sitting around

1309
00:45:33,750 --> 00:45:31,760
and going back into a box where they can

1310
00:45:35,190 --> 00:45:33,760
get jiggled around and scratched or

1311
00:45:37,030 --> 00:45:35,200
anything like that

1312
00:45:38,630 --> 00:45:37,040
and it really is a matter of just

1313
00:45:41,270 --> 00:45:38,640
evaluating what's there

1314
00:45:43,349 --> 00:45:41,280
figuring out uh what the what the good

1315
00:45:44,470 --> 00:45:43,359
things are and pointing them out to the

1316
00:45:47,109 --> 00:45:44,480
people and telling them

1317
00:45:47,589 --> 00:45:47,119
what the wholesale value of things are

1318
00:45:51,510 --> 00:45:47,599
and

1319
00:45:54,870 --> 00:45:51,520
are whether they want to sell it

1320
00:45:57,829 --> 00:45:54,880
right away for a cash offer whether they

1321
00:45:59,589 --> 00:45:57,839
want to go to auction where you'll have

1322
00:46:01,910 --> 00:45:59,599
a combination of collectors

1323
00:46:03,670 --> 00:46:01,920
investors and dealers that will be

1324
00:46:04,790 --> 00:46:03,680
significantly competing for their

1325
00:46:08,950 --> 00:46:04,800
material

1326
00:46:12,069 --> 00:46:08,960
and in most cases after the commission

1327
00:46:13,510 --> 00:46:12,079
is taken away from from whatever they

1328
00:46:16,150 --> 00:46:13,520
have

1329
00:46:17,190 --> 00:46:16,160
gotten let's say something sells for a

1330
00:46:19,750 --> 00:46:17,200
hundred dollars

1331
00:46:21,670 --> 00:46:19,760
and and the commission is ten percent so

1332
00:46:24,069 --> 00:46:21,680
they would get ninety dollars

1333
00:46:24,710 --> 00:46:24,079
uh will that ninety dollars be actually

1334
00:46:27,990 --> 00:46:24,720
more

1335
00:46:30,950 --> 00:46:28,000
than somebody giving them a cash offer

1336
00:46:31,589 --> 00:46:30,960
is it worth hiring somebody to sell it

1337
00:46:33,829 --> 00:46:31,599
for them

1338
00:46:34,630 --> 00:46:33,839
as opposed to taking the money and run

1339
00:46:37,190 --> 00:46:34,640
now with

1340
00:46:39,430 --> 00:46:37,200
precious metals for example gold and

1341
00:46:41,109 --> 00:46:39,440
silver if the coins are very common

1342
00:46:43,430 --> 00:46:41,119
and they're tied to the gold and silver

1343
00:46:45,030 --> 00:46:43,440
price and somebody's not doing an

1344
00:46:48,150 --> 00:46:45,040
auction for a month or two

1345
00:46:49,670 --> 00:46:48,160
you may be worried that that those

1346
00:46:50,790 --> 00:46:49,680
prices are going to go down so you might

1347
00:46:53,430 --> 00:46:50,800
want to lock in

1348
00:46:55,030 --> 00:46:53,440
today's price i mean two months ago gold

1349
00:46:56,230 --> 00:46:55,040
for example was over two thousand

1350
00:46:57,829 --> 00:46:56,240
dollars an ounce

1351
00:46:59,349 --> 00:46:57,839
this morning when i looked it was about

1352
00:47:00,230 --> 00:46:59,359
eighteen hundred and fifty dollars an

1353
00:47:03,510 --> 00:47:00,240
ounce

1354
00:47:06,790 --> 00:47:03,520
so you've had a little bit of a drop but

1355
00:47:08,630 --> 00:47:06,800
but that stuff trades based upon what's

1356
00:47:09,990 --> 00:47:08,640
happening on the international monetary

1357
00:47:12,550 --> 00:47:10,000
markets and economies

1358
00:47:14,069 --> 00:47:12,560
and and you know it ran up with covid

1359
00:47:16,390 --> 00:47:14,079
it's backed off

1360
00:47:17,910 --> 00:47:16,400
with the stronger dollar tomorrow it

1361
00:47:18,390 --> 00:47:17,920
could go up a hundred dollars because

1362
00:47:22,150 --> 00:47:18,400
something

1363
00:47:25,510 --> 00:47:24,470
right and if it goes to auction you go

1364
00:47:29,510 --> 00:47:25,520
you go through the

1365
00:47:32,549 --> 00:47:29,520
the very um rigorous cataloging of it

1366
00:47:33,829 --> 00:47:32,559
and as we saw earlier photography really

1367
00:47:36,630 --> 00:47:33,839
nice photography

1368
00:47:37,349 --> 00:47:36,640
of of your pieces that uh that come up

1369
00:47:41,990 --> 00:47:37,359
and

1370
00:47:45,270 --> 00:47:42,000
people from anywhere in the world can

1371
00:47:47,430 --> 00:47:45,280
bid basically in an online platform

1372
00:47:48,549 --> 00:47:47,440
that's correct and it depends upon what

1373
00:47:52,309 --> 00:47:48,559
each auction company

1374
00:47:52,870 --> 00:47:52,319
likes to do most of your major auction

1375
00:47:55,990 --> 00:47:52,880
houses

1376
00:47:56,950 --> 00:47:56,000
will be a combination of online and in

1377
00:47:59,270 --> 00:47:56,960
person

1378
00:48:00,870 --> 00:47:59,280
where you actually have people bidding

1379
00:48:04,069 --> 00:48:00,880
from the floor

1380
00:48:07,030 --> 00:48:04,079
and and people take bids that way yeah

1381
00:48:07,670 --> 00:48:07,040
and uh one last thing uh you mentioned

1382
00:48:09,750 --> 00:48:07,680
covet

1383
00:48:11,430 --> 00:48:09,760
um i hate even bringing that topic up

1384
00:48:14,470 --> 00:48:11,440
but i understand

1385
00:48:17,109 --> 00:48:14,480
but that uh to me what i've

1386
00:48:19,109 --> 00:48:17,119
witnessed at other auctions is it seems

1387
00:48:20,870 --> 00:48:19,119
like things are doing pretty darn well

1388
00:48:22,549 --> 00:48:20,880
what's the coin and stamp auction

1389
00:48:25,589 --> 00:48:22,559
business like

1390
00:48:26,549 --> 00:48:25,599
well we had uh three auctions scheduled

1391
00:48:28,950 --> 00:48:26,559
in mid april

1392
00:48:29,829 --> 00:48:28,960
and i can tell you that on monday

1393
00:48:32,710 --> 00:48:29,839
morning

1394
00:48:35,030 --> 00:48:32,720
march 16th we were scheduled to go to

1395
00:48:36,549 --> 00:48:35,040
the printer and this there was something

1396
00:48:38,870 --> 00:48:36,559
that was a little funky over that

1397
00:48:41,190 --> 00:48:38,880
weekend going into saint patty's day

1398
00:48:42,950 --> 00:48:41,200
and on monday morning i just said i said

1399
00:48:46,069 --> 00:48:42,960
we're going to hold off one more day

1400
00:48:47,990 --> 00:48:46,079
and of course by tuesday the 17th pardon

1401
00:48:49,910 --> 00:48:48,000
the expression it hit the fan

1402
00:48:51,030 --> 00:48:49,920
and we were shut down so we would have

1403
00:48:51,910 --> 00:48:51,040
had a catalog that would have been

1404
00:48:53,750 --> 00:48:51,920
useless

1405
00:48:55,589 --> 00:48:53,760
wow and we had to wait because we

1406
00:48:56,790 --> 00:48:55,599
operate in new hampshire we had to wait

1407
00:49:00,790 --> 00:48:56,800
until

1408
00:49:03,750 --> 00:49:00,800
we have permission from the governor to

1409
00:49:05,030 --> 00:49:03,760
have indoor gatherings uh and he when he

1410
00:49:07,829 --> 00:49:05,040
opened up new hampshire

1411
00:49:09,670 --> 00:49:07,839
he opened it up so that you could have

1412
00:49:13,510 --> 00:49:09,680
up to 50 percent

1413
00:49:15,750 --> 00:49:13,520
maximum capacity so if a a function room

1414
00:49:18,470 --> 00:49:15,760
held 200 people you could put 100 people

1415
00:49:19,910 --> 00:49:18,480
in well of course the hotel that we use

1416
00:49:21,990 --> 00:49:19,920
also wanted to make sure there was

1417
00:49:24,309 --> 00:49:22,000
proper social distancing so it took us

1418
00:49:25,430 --> 00:49:24,319
a week once we were allowed to reopen to

1419
00:49:27,510 --> 00:49:25,440
negotiate with them

1420
00:49:29,030 --> 00:49:27,520
coming up with different floor plans

1421
00:49:30,790 --> 00:49:29,040
where we would have the merchandise

1422
00:49:33,030 --> 00:49:30,800
displayed how we would put

1423
00:49:35,750 --> 00:49:33,040
our customers in the room and what would

1424
00:49:38,950 --> 00:49:35,760
happen if too many customers showed up

1425
00:49:39,750 --> 00:49:38,960
so we literally put our auctions

1426
00:49:42,870 --> 00:49:39,760
together

1427
00:49:46,150 --> 00:49:42,880
for july late in july and

1428
00:49:48,470 --> 00:49:46,160
we did no marketing whatsoever other

1429
00:49:50,630 --> 00:49:48,480
than mailing catalogs to our

1430
00:49:52,390 --> 00:49:50,640
current customer base and posting our

1431
00:49:54,230 --> 00:49:52,400
auctions online

1432
00:49:56,150 --> 00:49:54,240
and we pretty much close to fill the

1433
00:49:57,109 --> 00:49:56,160
room for both our stamp and two coin

1434
00:50:00,950 --> 00:49:57,119
auctions

1435
00:50:03,030 --> 00:50:00,960
and the net result of that auction was

1436
00:50:03,990 --> 00:50:03,040
it came in at 50 percent above our

1437
00:50:05,990 --> 00:50:04,000
estimates

1438
00:50:07,670 --> 00:50:06,000
because what had happened was that's

1439
00:50:10,150 --> 00:50:07,680
amazing

1440
00:50:12,790 --> 00:50:10,160
it was to us we didn't expect that but

1441
00:50:14,069 --> 00:50:12,800
what literally happened was when you had

1442
00:50:16,470 --> 00:50:14,079
the shutdown

1443
00:50:18,630 --> 00:50:16,480
there were no longer any weekly or

1444
00:50:22,630 --> 00:50:18,640
monthly coin or stamp shows

1445
00:50:25,270 --> 00:50:22,640
both locally nationally or regionally

1446
00:50:26,870 --> 00:50:25,280
and so all of a sudden dealers are

1447
00:50:29,109 --> 00:50:26,880
selling product

1448
00:50:29,910 --> 00:50:29,119
to their client base but they're not

1449
00:50:32,870 --> 00:50:29,920
having a

1450
00:50:35,030 --> 00:50:32,880
simple and easy way of replenishing

1451
00:50:37,829 --> 00:50:35,040
their stock and inventory

1452
00:50:38,790 --> 00:50:37,839
so we had a state material it was fresh

1453
00:50:39,910 --> 00:50:38,800
to the market

1454
00:50:42,390 --> 00:50:39,920
and they literally were beating

1455
00:50:44,309 --> 00:50:42,400
themselves up to to buy the stuff

1456
00:50:45,589 --> 00:50:44,319
and then we did an auction three weeks

1457
00:50:48,230 --> 00:50:45,599
ago and it was

1458
00:50:48,950 --> 00:50:48,240
the same massively successful came in at

1459
00:50:51,510 --> 00:50:48,960
50

1460
00:50:52,870 --> 00:50:51,520
over what we had estimated in catalog

1461
00:50:55,510 --> 00:50:52,880
because

1462
00:50:56,790 --> 00:50:55,520
people really wanted to do that now will

1463
00:50:58,630 --> 00:50:56,800
that happen

1464
00:51:01,829 --> 00:50:58,640
uh next time i don't know we have not

1465
00:51:03,349 --> 00:51:01,839
scheduled any dates for 2021 and it's

1466
00:51:05,430 --> 00:51:03,359
the first time in 20 years

1467
00:51:06,950 --> 00:51:05,440
we've not scheduled a year in advance

1468
00:51:07,910 --> 00:51:06,960
because we don't do our auctions in the

1469
00:51:09,750 --> 00:51:07,920
winter

1470
00:51:11,270 --> 00:51:09,760
we start in april and i just want to

1471
00:51:12,950 --> 00:51:11,280
wait another couple of months to see

1472
00:51:15,349 --> 00:51:12,960
what we can and can't do

1473
00:51:16,150 --> 00:51:15,359
that's uh i think that's a wise decision

1474
00:51:18,950 --> 00:51:16,160
decision

1475
00:51:20,549 --> 00:51:18,960
and uh like wes cowan said on this show

1476
00:51:22,549 --> 00:51:20,559
in particular

1477
00:51:24,549 --> 00:51:22,559
when the when the pandemic started he

1478
00:51:27,670 --> 00:51:24,559
said collectors have to collect

1479
00:51:30,230 --> 00:51:27,680
yes it's it's a drive so anyway steve

1480
00:51:32,230 --> 00:51:30,240
um as if you're i consider you a good

1481
00:51:33,829 --> 00:51:32,240
friend and as always it was uh really

1482
00:51:34,390 --> 00:51:33,839
interesting talking to you thank you so

1483
00:51:36,230 --> 00:51:34,400
much

1484
00:51:37,990 --> 00:51:36,240
well thank you for asking me martin i

1485
00:51:39,270 --> 00:51:38,000
had a wonderful time and i hope i've

1486
00:51:40,950 --> 00:51:39,280
helped a few people out in their

1487
00:51:43,549 --> 00:51:40,960
decision making down the road

1488
00:51:45,109 --> 00:51:43,559
i hope so too and that's centennial

1489
00:51:48,150 --> 00:51:45,119
auctions.com

1490
00:51:50,870 --> 00:51:48,160
it's pretty simple yes yep and again uh

1491
00:51:51,670 --> 00:51:50,880
everyone i will have information up in

1492
00:51:54,950 --> 00:51:51,680
the show notes

1493
00:51:56,790 --> 00:51:54,960
thanks again steve thank you all right

1494
00:51:59,349 --> 00:51:56,800
all right everyone so that's it for the

1495
00:52:06,570 --> 00:51:59,359
show today uh thank you for listening