The Norweb Collection - An American Legacy

Although B: Max Mehl was active on the collecting scene, and very much in evidence at the annual conventions of the American Numismatic Association, his primary source of revenue was The Star Rare Coin Encyclopedia, which he sold for $1 through magazine and newspaper advertisements, and even radio commercials in later years. By presenting the allure of finding a fortune in one's pocket, Mehl sold millions of these booklets. It is doubtful if anyone ever found a prized 1913 Liberty Head nickel in his change, or an 1804 silver dollar, or any of the other prime rarities which formed the focal point of Mehl's advertising, but there is no doubt that he helped spread the word about coin collecting, and that many people took up the pursuit of numismatics as a result. Indeed, in the 1930s the ANA gave Mehl a special award for his promotion of the hobby.

In New York City, the J.W Scott Company, best known in the field of stamps, maintained an active coin dealership at 37 John Street. The firm published various "standard catalogues" "fully illustrated and quoting prices for thousands of copper, silver and gold coins" and invited readers to send for No.1 which pertained to United States gold coins and silver coins of the world; and No.2, which described copper, nickel, and brass coins of the United States and other countries. At the time there were no yearly price guides to aid collectors in determining coin values, so the Scott catalogues filled a need. The typical hobbyist was apt to derive his information from other sources as well, including scanning the offerings of coins for sale at fixed prices published in The Numismatist and various private catalogues and, especially prices realized in auction sales. By later standards, valuations were low. In February 1908 the Arnold Numismatic Company, of Providence, Rhode Island, offered a 1792 silver United States half disme for sale, described as Fine, very rare and "a very historical piece" for $12.50; a 1652 Massachusetts Pine Tree sixpence, Fine, for $9; an Uncirculated 1809 large cent, with partial original mint color, for $15; a 1794 half dime in nearly Fine preservation for $6; and an 1836 Gobrecht silver dollar, described as "semi-Proof" for $14.50.

Wayte Raymond, whose business was located in South Norwalk, Connecticut, offered a Fine 1793 Wreath cent for $7; a Very Fine 1794 coin of the same denomination for $8; an 1820cent "Uncirculated, bright red" for $1.25; a 1797 half dime, IS-Star variety, nearly Fine for $5; a 1795 half dollar, Fine for $2; and an 1805 half dollar, Fine for $150. Raymond was at the beginning of what would become a brilliant numismatic career. Later, he incorporated the United States Coin Company, which handled many important properties, and still later became affiliated with Scott in New York City, still later engaging in business independently and publishing (beginning in 1934) the Standard Catalogue of United States Coins. Raymond did much for the scholarly aspect of United States numismatics, and in the 1940s was responsible for inspiring Walter Breen and John Jay Ford Jr. to embark on their research activities.

In 1908, as in later years, auctions created much attention. Prominent among those involved in the field were Henry and S.H. Chapman, operating independently in Philadelphia, B. Max Mehl, who was just beginning his series of mail bid sales, Lyman H. Low, and Thomas L. Elder. Other entrants in the field of auction and mail bid sales included the St. Louis Stamp and Coin Company, Ben G. Green, Herbert E. Morey, Charles Steigerwalt, and New York Stamp & Coin Company.

Of these auctioneers, the most vocal were S.H. Chapman, who formally signed his name as Samuel Hudson Chapman, and Thomas L. Elder. Elder in particular was ever willing to voice his opinion on just about anything, from politics within the American Numismatic Association, to current coinage designs, to the American government. Collectors engaged in a wide variety of numismatic pursuits.

In the era of low prices, many collected over a wide range of topics. It was not unusual for a typical holding to consist of series of United States copper, nickel, and silver coins arranged by date sequence, a drawer or two of tokens, some medals, and a few ancient and world coins. In American numismatics, colonial coins and large cents were especially popular, as were early silver pieces. Tokens and medals likewise captured the interest of many. Although Augustus Heaton paved the way for collecting coins from branch mints with his publication of Mint Marks in 1893, interest was still slow in starting, and by the year 1908 the typical numismatist cared less whether Barberstyle dimes were being made at Denver, New Orleans, and San Francisco, in addition to Philadelphia. It was not until the following year, 1909, when the presence of a tiny "S" mintmark on a 1909-S V.D.B. cent caused a sensation with the public, and made branch mint Lincoln cents worth far more than their Philadelphia Mint counterparts, that collecting by mintmark became an integral part of the hobby. The year before, 1908, mintmarks were treated casually.

In 1908 the Philadelphia Mint produced 545 silver Proof sets, which gives an idea of the number of people interested in collecting silver coins by date sequence. As it was the practice to produce more than needed and to store extra coins "on the shelf;' the true demand for such sets probably represented no more than three or four hundred separate individuals, if indeed that many. Minor Proof sets, consisting of the Indian cent and Liberty Headnickel, were made to the extent of 1,620 examples. It is doubtful if more than 1,000 were sold, including bulk sales to Henry Chapman and other dealers, and for years later the Mint still had remainders at hand, many of which were subsequently acquired in bulk by David Proskey.