Michael Hodder and Q. David Bowers
July 4, 1956
Dear Art:
My powers of persuasion must be waning, or perhaps it is that: you have built up a measure of immunity against the mathematical approach. Then too, in this case, as it was not possible to establish the "want value" in advance because of the importance of the surprise element, I found myself somewhat boxed by the inescapable fact that demand is all of 80% and supply only 20% when it comes to setting prices. So I will concede the point as graciously as possible and will send you a check, determined however when it comes to future presents to go about it in a little more practical way.
Sincerely yours,
Hon. R. Henry Norweb
June 7, 1956
Dear Art:
I have arranged with the Cleveland bank to send a check for the amount due on the recent purchase of the Birch Cent plus $510 for the coins Mrs. Norweb kept from an earlier consignment ....
Looking forward to seeing you at the next convention.
Sincerely yours,
Hon. R. Henry Norweb
The following accompanied a 1904 gold dollar, Lewis & Clark, Proof at $750:
October 21, 1957
Mr. R. Henry Norweb:
This is a true Proof, as you can readily see by comparing it to the regular strikes. I don't think I need to point out the rarity of this. Since the Standard Catalogue finally lists it in Proof I feel this rarity will be appreciated.
Paul Kagin
July 10, 1958
Dear Art:
I am indeed sorry about the circumstances which prevented our getting together over the past weekend, but the pressure of social amenities and house guests had priority over everything else. Also it is the season of the year when numismatic activities are generally superceded by vacation plans and the urge to spend as much time as possible out of doors.
We leave for Maine very shortly, but I know my wife plans to find time to check the remainder of the box of interesting items
[early American and related coins, including Wood's pieces] you sent some time ago.
With personal regards to you both,
Very sincerely yours,
Hon. R. Henry Norweb
May 26, 1959
Dear Friends:
It is nice hearing from you again. This will acknowledge re-ceipt of the four returned coins. In regard to the 1811 half cent, both Paul and I would like to participate in the occasion of you presenting it to Mrs. Norweb. I will revise my price from $750 to $700 but cannot take any less for it.
From what information I could obtain about this coin, only six specimens were originally issued, and of them this is only the third specimen known. I have traced the other two and do not believe they will be available for a number of years as they are in "real" collectors' "hands"
As for the market value, I was just comparing present day prices with those that prevailed at the Dupont Sale nearly five years ago. I bought the Extremely Fine 1796 half cent With Pole out of Mike Kolman's recent sale in Cleveland. I paid $2,750 for this coin. The 1864-L Proof cent at the same sale was bid in by the Empire Coin Company at $2,350, no sooner did he leave the room then Jerry Cohen offered him $2,500 for this coin. I know that Jerry Cohen will certainly price it at more than what it cost, so what present values are today, I don't actually know. It seems there is no end in sight.
I bought the 1867 With Rays nickel in Proof out of Mike's sale in November at $1,750, then the one in Stack's sale of a month ago brought $2,500. I bought the 1876-CC 20-cent coin in Stack's sale of November 1957 at $3,800. Now another specimen in Stack's sale of a month ago brought $6,300. I only quote these prices to show what has taken place in regard to values today. If the 1811 half cent were to come up at auction, properly described, I believe that its estimated value would be at a minimum of $1,000, and would probably bring fairly close to that in keeping with the context of prices today. I thought my price of $750 was quite fair or else I would not have set it at that.
It is sometimes difficult for us who have been in this game a while to adjust to the fast changing ideas of value prevailing in the market today, but if we don't, we will soon run out of choice material.
Personal regards,
Art Kagin
June 22, 1959
Dear Art or Paul:
Mrs. Norweb has asked me to say that she has thought over the offer of the 1811 Mickley [restrike] half cent and has decided against it at the quoted price. It is returned herewith. Sorry we couldn't get together.
Very sincerely,
Hon. R. Henry Norweb, Jr.
James, Inc.
The Norweb correspondence files contain several invoices for minor purchases from the company known as James, Inc. The firm was located at 300 West Main Street, Louisville, Kentucky, and was operated by the Karp brothers. Correspondence was engaged with Richard D. Kenney, who during the time indicated worked for the firm.
June 16, 1954
Dear Dick:
It is almost a month since your letter offering some Proof half dollars, but the pressure of events of late has gotten into our numismatic activities. However, I would like to know the price of 1811, 1822, 1830, and 1831.
Yours very truly,
R. Henry Norweb
June 18, 1954
Dear Mr. Norweb:
Thank you for your note of June 16th. Following are the prices on the Proof half dollars: 1822 $175; 1830 $150; 1831 $150.
I note you made a reference to 1811, which we do not have.
Perhaps you meant 1818 in which case the price is $175. There is no need, I am certain, of emphasizing the rarity of these early Proofs.
In any event, I trust that we will see you both in your home town this August [at the ANA Convention in Cleveland]. Sincerely,
Richard D. Kenney