"Colorful." "Passionate." "Energetic." These are just a few words to describe collector Stewart Blay. Nearly 20 years, ago Stewart emerged on the coin show circuit and has made many friends along the way, both collectors and dealers alike. "I enjoy the camaraderie in the numismatic community," Stewart told us. You can find Stewart at most major shows and if you spend just a few minutes with him, you are bound to hear a coin-related story. Stewart has an enthusiasm for coin collecting that is unmatched and this passion has resulted in the finest collection of copper cents ever assembled. Sponsored by the PCGS Set RegistrySM, Stewart's presentation of his Red Copper Collection at the ANA show earlier this year caused quite a stir among the collectors in attendance.
Blay first began collecting when he was eight years old. "I had a neighbor whose uncle worked for the transit authority. He used to bring home change and we'd sort through it. I started with Lincoln pennies and began to fill up an old Whitman folder," he said. Later, Stewart traveled to work with his father, a Brooklyn lawyer, who would bring rolls of coins to work and let his son sort out the best coins. Blay's collection expanded to include Jefferson nickels, Mercury dimes and Washington quarters. However, by the time he reached high school his interest had changed. He stopped collecting to pursue sports and girls.
After high school, Stewart attended the Parsons School of Design in New York City. Spending the summers in Italy and working at the Art Students League in the fall in New York, he began to develop his career as an artist specializing in contemporary sculpture. Today he works in Italy, Colorado and Indiana, as well as his home city of New York. His sculptures are in private collections across the country. As an interesting sideline, he also studied acting with Lee Strasberg and did stunt work for television, appearing in commercials and soap operas.
In 1988, after the advent of certified coins, Stewart Blay began collecting again, focusing on Lincoln cents. Many collectors follow the same path by first completing a set, then improving upon the condition, and then branching out to varieties. Two of his favorite coins in his collection right now are his 1958 Doubled Die and his 1969-S Doubled Die.
Blay has a story for almost every coin in his collection. "For me, the hunt is as important as the coin. If the hunt turns out to be sour, then the coin loses appeal for me," he said. "For example, my purchase of the 1958 Doubled Die was written up in Coin World because of the steps I took to track the coin down. In 1996, I had been trying to locate the coin for my collection and hadn't had much luck. One specimen was being advertised for $57,000. In 2005, I was being interviewed for a story by a numismatic author. This author told me that ten years earlier, he had known of a MS64 full Red example that was owned by a man in Philadelphia. He still had the man's phone number but doubted that I would be able to reach him."
"To remind you, I was on the hunt. The phone number was no longer good, but through some detective work I was finally able to track the man down. He was now 80 years old and had given the coin to his son. I offered to pay $70,000. However, after the man discussed it with his son, he politely refused my offer. I went to the ANA in San Francisco and when I returned I called the man again. This time I decided to make him an offer he could not refuse and offered $100,000! This offer was accepted, but only if I saw the coin first. I drove to Philadelphia to meet the man. It turned out he was an ex-cop and was armed with a gun. I was armed with only my loupe. But it ended well. The coin was as I expected and after coming back from PCGS was graded MS65 Red."
Currently, Stewart is collecting half cents, large cents, Flying Eagle cents, Indian cents, Lincoln cents and Canadian copper. Although he does collect proof Lincolns to date, he is not a strong collector of memorial cents in circulation strikes. "I do have a complete set to date, but I really concentrate on the 1909-1958 series," he explained.
At the 2008 Summer ANA, PCGS proudly displayed Stewart's entire collection. Highlights of his incredible collection include the following phenomenal coins:
- 1793 MS65BN half cent
- 1796 MS66RB half cent – the finest known
- 1828 13 stars half cent in MS65RD
- 1856 MS65 flying eagle cent, finest known
- 1860 Pointed Bust cent in PCGS MS67
- 1877 Indian cent MS66RD, aka "the Golden Princess"
- 1882 MS67RD Indian cent
- 1909-S MS66RD Indian cent
- 1911 MS68RD Lincoln cent
- 1911-D MS66RD Lincoln cent
- 1914 MS67RD Lincoln cent
- 1919 MS69RD (the finest graded wheat cent)
- Two of the finest known 1922 No D Lincoln cents in MS64RD and MS65RB
In 2002 Stewart Blay received his first PCGS Set Registry award and has won awards every year since. His collection of Lincoln cents was inducted into the PCGS Set Registry Hall of Fame in 2003. "The PCGS Set Registry has created a whole new world for collecting coins and has been one of the factors in the dramatic rise of coin values," said Blay. "The value of coins has increased more than anything else I've ever collected."
Stewart collects copper because he loves the color. "I think copper toning is just like the sunset – it is incredibly beautiful. It talks to me," he says. He has no plans to sell his collection at any time in the near future and advises other collectors to collect for the long term. Stewart's enthusiasm for coin collecting is unmatched, and his passion has resulted in the finest collection of copper cents ever assembled.
Stewart is single and lives in New York City. In addition to numismatics, he enjoys traveling, collecting gem stones, skiing and music.