At the Long Beach Coin & Collectibles Expo, held Sept. 22-26, we interviewed well-known numismatists John Dannreuther and Kevin Lipton about why people collect pattern coins - those protoypes for coins which, for one reason or another, never made it into circulation.

John Dannreuther: To begin with, they're very interesting. The designs are unusual, and the fact that some of them were never issued is also attractive.
Collectors Universe: Kevin, what do you think?
Kevin Lipton: They're beautiful, certainly unique, and extremely rare.

CU: Do people collect pattern coins by denomination? What are some themes people use when collecting them?
KL: My theme would be designs; I like collecting many beautiful designs.
CU: How about most people you know who collect them?
KL: Most people collect by design.
CU: JD, how do people collect pattern coins - by date, design, type, metal?
JD: Most people do collect by different design, though there have been some who collected certain series like 1877 half-dollars.

CU:Let's talk about metals. Gold is worth the most, then silver; what about copper and aluminum? Which, in general, is worth more?
JD: The number one trait for patterns that makes them more valuable is that they are struck in a metal that they would have been struck in, if they'd been made into coins. For example, a silver dollar pattern in silver would be worth more than one struck in copper. A gold pattern struck in gold is certainly worth more than that pattern struck in copper - but, then, gold patterns are worth so much more because there were so few of them struck.
CU: What about aluminum vs. copper?
KL: Aluminum is better than copper. (John Dannreuther nods his agreement.)

CU: Are patterns as popular now as ever, or was there a time when they were more popular?
JD: I think there was a time in the early 1980s when they peaked in popularity...but they've come back very strongly in the past few years.
KL: Patterns are a perfect microcosm of the coin business. They're a finite supply, and when just a few serious collectors with a lot of money enter the market, prices escalate dramatically because the availability is so small.
CU: Are pattern coins hot market coins?
KL: Absolutely!
JD: Yes, no question.

CU: What was the greatest pattern coin auction you ever attended?
JD: The Rudy Sieck sale in 1983; also, the Garrett sales contained some rare and beautiful patterns (1980).
KL: For me, the sexiest auction was the recent Bass sale that was so prolific with 1877 half-dollars.
CU: There's really something magical about the 1877 halves, isn't there, because there were so many of them made and they're so beautiful.
KL: You have it right there. They're gorgeous, and there are so many different designs to collect.

CU: If you could have one pattern coin and one only, what would you have?
JD: Teddy's Coin!
CU: Judd 1776, the 1907 $20 Indian Head gold piece.
KL: I'd rather have the other one - the miniature ultra-high relief.
JD: Either the two miniature ultra-high reliefs or two half-Unions --
CU: --that are in the Smithsonian, yes.
KL: (enthusiastically) Double thick, ultra-high relief...
CU:Double thick ultra-high relief for Kevin! I'd rather have Teddy's Coin - Judd 1776.

CU: If a person is interested in collecting patterns, how should they get started?
KL: Buy a Pollock book; buy a Judd book. Read them both. Follow trends in auctions.
JD: Study the old auction catalogs, buy the Judd book and the Pollock book, talk to dealers that specialize in patterns to learn about them.
CU: Should a person buy patterns at auction or from dealers?
JD: If they feel comfortable with a certain dealer, then they should probably work with that person. But auctions generally provide the best prices.