First Coin Shop/Dealer in the US

[gmarguli]

Anyone know when the first coin shop opened in this country?

 

Who was the first coin dealer in this country?

[Hoot]

Great topic for a book Greg - I have no idea!

 

Hoot

[Tradedollarnut]

Memory seems to point me toward Cogin in 1859.

 

Now I'll have to go look it up.

[cladking]

Pittsburg ring any bells? I think it may have been a little before 1859 but the name sounds right.

[Tradedollarnut]

Bowers credits Edward Cogan as being the first professional numismatist in America. He began his business in 1858 and retired in 1879.

 

 

[EVillageProwler]

Excellent question, Greg.

 

Can anyone here speculate on what event caused coin collecting to become popular enough to justify opening a coin dealership?

 

EVP

 

[Nysoto]

There were several coin shops in the Seattle area that opened in the 1960's that are still open, in one form or another. I remember as a 10 year old finding some key date Mercurys in circulation, then riding the bus to Seattle Coin to cash them in. The good old days! Coin prices increased very rapidly through the 50's and 60's, I think it was easier for a dealer to make money in those years. I just spoke to an old timer in Everett, WA, who has had the same coin and antique shop since 1961.

[EVillageProwler]

Nysoto,

 

You do know that we're talking about the late 1850's, right?

 

EVP

 

[johnscoin-migration]

I believe y'all are correct about the Coggin fellow as Bowers described and placed him. As far as the first major coin dealer, that would be B.Max Mehl in the early 1900s, who hit it big with his ad stating he'd pay $50 for a 1913 V-Nickel...

 

[mark]

I also thought it was Cogan, but here's a quote from Bower's "American Numismatics Before the Civil War:"

 

Probably, most leading American cities in the East had one or more dealers offering rare coins for sale in the 1850s. ... In the late 1840s, John Brady owned the Old Maryland Curiosity Shope, 105 East Baltimor Street, Baltimore, which proclaimed itself as: "Oldest established in the city, where may be obtained rare old books, coins, medals, .... Old books and coins bought."

 

(End of Bowers quote)

Also for what it's worth, Bowers reports that "The first American numismatic auction sale of importance featured the cabinet of Dr. Lewis Roper of Philadelphia." which took place in 1851. This was a 24 page catalog featuring 654 coin lots and 45 autograph losts. The total realized bids were $1,172.47. An uncirculated 1793 chain sent went for 10 cents!!

 

Mark

[PQSeated]

I remember reading those quotes. I would love to be able to to back in time. If I'm ever able to, you guys can put in some coin orders. I get all the rare coins, though.