Q. David Bowers
"Kosoff pointed out that arguments against counterfeits are long and numerous but boil down to one simple matter-should this collector be protected against replica coins being sold to him as genuine? 'Mr. Siegel is not pretending-he admits that the coins are copies,' said Kosoff. 'Will the purchasers do the same, and the third, fourth or fifth purchaser-will he do the same?'
"Kosoff pointed out that if there is nothing done in the United States about foreign coins being fabricated-within its borders-and if Switzerland or Germany or any other country would choose to disregard the fabrication of coins, including United States coins, then, in effect, we are accepting the situation as one which will permit the copying of our coinage. The excuse that we cannot regulate the fabrication of coins in another country is a weak one,' Kosoff declared. 'How far can this matter proceed?' he queried. Think about it-in three minutes you will arrive at frightening possibilities. We cannot permit this matter to progress. We must make every effort to stop the practice. Coin World is to be commended for its initiative and persistence,' Kosoff concluded in his statement.
The article continued:
"James F. Ruddy, secretary of the Professional Numismatists Guild, echoed Kosoff's sentiments today and described the situation as 'dangerous.' 'I'm certain that Mr. Siegel's operations are not solely for the benefit of collectors who can only see certain rare coins in museums. Mr. Siegel is only interested in the immediate profit he can derive from selling his reproductions. I am sure that he has not given thought to the fact that eventually some of these coins will get into the wrong hands and be misrepresented. If he had thought about it, he must not care,' declared Ruddy."
Further articles on the subject of counterfeits contained similar quotations from Abe Kosoff. At his own expense, the California dealer also published advertisements titled "Do not buy false coins." The text noted:
"If you do, you will encourage the fabricators to redouble their efforts. The eventual result must be complete mistrust of many coins and concern over most coins-your present varieties included."
Fortunately, the hobby agreed with Abe Kosoff, James F. Ruddy, John J. Ford, Jr. and many others who spoke out on the subject. One of the results was the Hobby Protection Act, which mandated that copies must be clearly marked as such. Still, the problems persisted, and for many years thereafter Abe Kosoff, the Professional Numismatists Guild, the International Association of Professional Numismatists, and other concerned collectors, dealers and organizations combatted forgeries. It was and is a continuing problem.
Together with Sol Kaplan, Abe Kosoff marketed a quantity of $50 California gold slugs toward the end of 1963. Advertisements titled "A Piece of America" were placed in various publications. The text noted:
'The octagonal $50 gold pieces are famous as the money of the California pioneers. Born of necessity, accepted at par, used extensively, discontinued reluctantly, the affectionately-called 'slug' represents the highest denomination coined in the United States ... The romantic(?) stories about how a couple of 'octagons' knotted in a kerchief 'slugged' successful prospectors into a temporary state of unconsciousness (sufficient to permit him to be relieved of his gold dust) add color to the coin which is spread upon the pages of American history. A fortunate acquisition permits us to offer this octagonal piece of America at varying prices, depending on the condition desired." Specimens were priced at $1,400, $1,800, and $2,200.
The January 1964 issue of the Numismatic Scrapbook Magazine noted that Abe Kosoff's market observations were the same as for the year previous:
"The outlook for 1964 seems to be the same as it appeared for 1963. The base has broadened even further with more collectors, more dealers, and more investors operating and spending more money. Rare coins have settled down and should command consideration. Paper money has started its way up and a few fine offerings will accelerate this market."
Abe Kosoff's travel schedule during spring 1964 included visits to the Central States Numismatic Society convention in Kansas City from April 23rd through the 26th, the Metropolitan Coin Convention in New York City from April 30th through May 3rd, and the Congress of the International Association of Professional Numismatists in London, England from May 15th through the 19th. After that, the next major item on the agenda was the American Numismatic Association convention in Cleveland in August.
At the meeting held by the membership of the Professional Numismatists Guild prior to the American Numismatic Association convention in Cleveland, August 1964, Abe Kosoff, the founding president of the PNG, was elected to serve for the 1964-1965 term, succeeding Arthur Kagin.
Another event on the PNG calendar at the Cleveland convention was the annual banquet. The Lewis M. Reagan Memorial Foundation Award was given to Matt Rothert for his contributions to the field of paper money. Honored guests included J. Oliver Amos, publisher of Coin World, and Margo Russell, executive editor of the same publication, Mr. and Mrs. William Louth of the Medallic Art Company, P.K. Anderson, president of the ANA, and Michael V. DiSalle, a former governor of Ohio.
Abe Kosoff expressed a combined feeling of accomplishment and frustration concerning the relationship between the PNG and the ANA. Earlier, the American Numismatic Association made an arrangement with the PNG whereby the PNG would ''block book" a section of bourse tables, thus guaranteeing the financial success of the annual convention. In an era in which finances were uncertain, this PNG guarantee of support was welcomed. By 1964, the market had risen to such a point that the activity was more intense than years earlier, thousands of new dealers had hung up their signs across the United States, and there was no lack of applicants for ANA bourse tables. Thus, the PNG's help was not needed. Ever the diplomat, Abe Kosoff, speaking in generalities, noted:
"Any convention which has consistently block-booked the PNG and would prefer not to consider such a program need only inform us well in advance. Such a convention group will be encouraged to adopt the new ANA standard for the selection of bourse dealers and, if agreeable, block-booking arrangements will be dropped.
"The PNG will, however, consider it a most unfriendly act if, after agreeing to a block-booking program of the PNG, the convention committee makes a unilateral change violating such an agreement. It is our sincere hope that no such occasions will arise."
At the Disneyland Hotel at Anaheim, California, October 23rd and 24th, 1964, Numismatic Enterprises and A. Kosoff, Inc. jointly conducted an auction with the convention of the California State Numismatic Association. More and more, Abe encouraged his son Steve and Mike Kliman in the field of professional numismatics, helping them in many different ways. Over a period of time, Numismatic Enterprises became well established in its own right and conducted many sales.