Q. David Bowers
Cover of Sale No. 3 conducted by Numismatic Enterprises-Mike Kliman and Steve Kosoff-Encino, California, February 2, 1967. Numismatic Enterprises worked closely with Abe Kosoff, and vice versa, over a period of years.
Years later, in the twilight time of Abe Kosoff's life, speculators were not only a part of the market, they became the dominant force. Still later, in early 1985, various numismatic editors and writers penned their views on the subject. David Harper, editor of Numismatic News, explained that common coins often sold for more than rare ones, for those who marketed coins in quantity desired to buy pieces in large lots, and only common coins were available in large lots so it was common coins that received the most attention in the market! Michael Fuljenz noted that telemarketing, whereby banks of telephone operators called lists of prospects to sell them coins, was resulting in changes in the coin market and driving up the prices on series which were available in quantities, such as Morgan silver dollars. Back in 1967, when Abe Kosoff voiced his concern about roll and Proof set hoarding, the gentle coin market of personal transactions, camaraderie, and friendship, was already a thing of the past, but Abe hoped that it would return.
Abe Kosoff announced that he would attend the Metropolitan New York Convention in New York City on April 27-30, 1967 followed by the International Association of Professional Numismatists in Stockholm, Sweden, May 12-16.
On his way to the annual meeting of the International Association of Professional Numismatists, held that year in Stockholm, Sweden, Abe Kosoff stopped over in New York City. While there, he participated in the educational forum held as part of the Metropolitan New York Convention. On Saturday morning, April 29th, he joined Robert A. Wallace, assistant secretary of the Treasury, and Dr. Vladimir Clain-Stefanelli, numismatic curator of the Smithsonian Institution. Abe Kosoff's talk was titled "The Romance of Ancient and Modern Coinage." The presentation was well received.
Staying at the Hampshire House on Central Park South, Abe and Molly had the chance to visit with many family and business friends in New York City. The itinerary included greetings exchanged with Lester Merkin, Charles Wormser, members of the Stack family, Dick Picker, John Ford, and Max Kaplan. Amidst the New York City activity, Abe Kosoff took a quick overnight trip to Pittsburgh, where Dr. James Sloss met his plane and then drove him to the Carnegie Institute for a meeting of the Western Reserve Coin Club, where W.W. Woodside, long-term curator of the Carnegie exhibit, gave a talk.
On May 9th, Abe and Molly left New York City on a flight to Copenhagen, Denmark. They stayed at the Royal Hotel, near the famed Tivoli Gardens, the Danish combined equivalent Disneyland and a national institution. Several days later it was on to Stockholm, site of the International Association of Professional Numismatists meeting. Among those attending from the United States were Cathy Bullowa, Henry Chris tense John Jay Ford, Jr., Abner Kreisberg, Norm. Stack, Leo Young, Wayne Pratali, and the spouses, as well as Richard Margolis, Richa Picker, and Hans Schulman.
Much of the ensuing week was spent on IAPN affairs, transacting some business with other members, and visiting the Royal Collection at other Swedish numismatic attractions. Evening were often spent at local night spots, with a dinner at the famous Riche restaurant being especial memorable. "Our European friends, with a little American assistance, went through 11 bottles wine with a sumptuous dinner-so you know we had a grand time!" Abe Kosoff later reported his diary of the trip.
After Stockholm, the itinerary progressed to Zurich, Switzerland, where several days were spent at the Dolder Grand Hotel, which served as point of embarkation to the many numismatic attractions of that city. Then it was on to Dubrovnik, Yugoslavia, a city on the Adriatic Sea. Abe and Molly Kosoff stayed at the Argentine Hotel where a room plus all meals came to $24 per day. They soon discovered that the Excelsior Hotel nearby, was an even finer place and had the amazing low rate of $17 for the same comprehensive service!
Toward the end of May, the Kosoffs returns to California, bringing with them many memories of a wonderful trip.
At the ANA's annual convention in 1967, held that year in Miami Beach, excitement centers about the auction conducted by Paramount International Coin Company. Catalogued by Jim Kelly, the sale was highlighted by the J.V. McDermott specimen of the 1913 Liberty Head nickel.
For many years McDermott had displayed the 1913 nickel at conventions and other gathering of collectors, at first simply keeping it loose, change in his pocket(!) but later housing it in small green plastic holder. He was quite casual, about the piece and often let collectors borrow for a few minutes or a few hours at coin show Of course, this was a time in which the piece was, valued at just a tiny fraction of its later worth.