report Newman Colonial Auction&EAC Convention with Football great Michael Irvin

[michael]

eNewsletter - Making the Grade #7: The Down-Low on the Newman Colonial Coin Auction & the EAC Annual Convention

 

from dave wnucks newsletter www.davewcoins.com

 

 

 

 

Read on to hear about an auction of amazing colonial coins, a mile-high specialty coin convention, an awkward encounter with a Hall of Fame Football player, and why talking like a pirate might once again be coming into fashion.

 

Results of The Eric Newman Sale of Colonial Coins

 

The coins were nice. Well, to be more precise -- some of the coins were spectacular and of the highest rarity. Some were quite common and ordinary (by colonial coin standards). All were sold in about a day, without reserves, and with 100% of the net proceeds donated to charity.

 

$11 million dollars later all 752 lots found new homes. Some of those coins had not been sold at auction for over 100 years. That, my friends, is the very definition of a Fresh Deal.

 

And that $11 million figure becomes all the more astonishing when you remember that he held back several of his really cool colonials, presumably to be used in telling the story of America at his very own museum in St. Louis.

 

Numismatic luminaries – both dealer and collector – descended upon the Fletcher-Sinclair Mansion located right on Central Park in New York City. These men & women were serious folks, and very knowledgeable numismatists.

 

What was absent from this crowd were most of the “big name” dealers – many of whom cannot tell a good coin from a “trap coin” (to use a coin insiders' term) unless it is housed in a PCGS holder and displays a CAC sticker on the front. You would be shocked how many of the biggest dealers in the coin business fall into that category these days.

 

Most all the coins sold for strong – but not crazy – money. The two stars of the auction sold quite reasonably though, considering their importance.

 

The silver 1776 Continental Dollar is one of the all-time great coins in US numismatics. Remember that just a short time ago there was an argument as to whether that magnificent 1794 Silver Dollar in the PCGS Specimen-66 slab (which incidentally sold for $10 million last year) was the very first US silver dollar struck.

 

Um, hello! The coin in the Newman sale is dollar sized, made of silver, made in America, and struck in 1776. I think we have our winner right here. (There are 4 known in silver in all, of which this is by far the finest) The coin went to a serious collector of federal coinage and presumably won’t be on the market again for a very long time. An argument could be made that this $1.4 million dollar coin could easily be a $5 million coin in the not-too-distant future.

 

The other highlight was the silver center cent. It was housed in an NGC MS63+ holder, and was actually a very nice coin. It also sold for $1.4 million. I wouldn’t have been surprised if it surpassed the $2 million mark in this sale. It did not, so kudos to the buyer! And no – sadly, that buyer was not named Dave Wnuck.

 

 

The Results of the American Coppers (EAC) Convention in Colorado Springs, and a Brush with Football Greatness

 

If you haven’t been to one of these annual events, I heartily recommend you attend one if it is at all convenient for you to do so. You need not be a member or EAC or JRCS (a club for collectors of early silver & gold coins that co-hosts these shows), and there are plenty of coins there that are neither early coppers nor early silver/gold coins.

 

There are a number of larger coin shows in the country, but there are none that have this particular laid back, collector-focused vibe. It is quite refreshing.

 

I was surprised at the number of people who came to this show, and I was also surprised by the large number of dealers who set up there. Colorado is not an easy place to get to for folks on both coasts, though there appears to be an enthusiastic core of avid collectors in the immediate vicinity. Plenty of folks from both coasts showed up though, as did the locals. Better yet, I understand that next year’s show (to be held in Dallas) is on track to be quite a bit larger than this one was.

 

The bourse floor activity was thin but steady. Unlike most shows, there was no mad dash to each table to see what everyone is offering. Most attendees at this show come here for several days, so they take their sweet time getting around to view everything on offer. The 60 or so tables at this show provide a good variety of coins to view, but slow and steady is the pace around here. Most of the dealers I spoke with were at least marginally satisfied with the business they did while here, but dealer expectations at an EAC convention are often quite modest.

 

That characterized my show as well. I did slow but steady business. I picked up a few really cool coins, and enjoyed my time there immensely.

 

 

My Brush With Greatness (No Foolin’!)

 

If you are not a football fan, you can safely skip this part of this e-newsletter. You won’t miss any juicy coin stuff; I promise.

 

So anyway - I was bracing for a long slog home after the show. Going from one small airport in Colorado to another small airport in Connecticut is not meant to be easy, and it wasn’t.

 

The second leg of my flight home was pretty full. I sat in my assigned seat, and a well dressed, very well groomed gentleman sat down next to me.

 

I thought to myself: Man – this guy looks an awful lot like a famous football player. In fact, he looks a little bit like the all-time great wide receiver, 3 time super bowl champ with the Dallas Cowboys and now NFL Network sportscaster Michael Irvin. Only this guy is a bit smaller.

 

Since I was sitting right next to him, I eyeballed his height and his hands and compared them to my own proportions. It seems that I am a little taller and I have somewhat larger hands. Oh well; so it couldn’t be him.

 

But still….

 

I better not mention to this guy that he looks just like Michael Irvin, because I’ll bet people say that to him all the time. He’s probably sick of hearing it. Yeah, that’s the ticket.

 

I happened to be reading a magazine devoted to the NFL Draft on the plane. Just before takeoff he said to me, “I should probably read that magazine too.”

 

I’m thinking to myself – “Awesome! He’s another fan. I can talk football with him during the flight!”

 

I asked him if he had played football in school. He said, “Um, yeah.”

 

I asked what position. He said, “Wide receiver.”

 

I said to him – “Oh cool. My son plays wide receiver as well!”

 

I asked him what team he rooted for. He deadpanned: “The Cowboys.”

 

I am not making the above conversation up. A football fan of even below average intelligence would have instantly fit the pieces of this two-piece jigsaw puzzle together.

 

I swear it still didn’t dawn on me yet that it really was Michael Irvin. My wife is right; heaven help me, I'm just not that bright.

 

Frankly, I guess my mind was still occupied with thoughts of the two pieces of Massachusetts silver I picked up recently (see below). It wasn’t on my radar to think about bumping into anyone famous and outside of our little coin world.

 

20 minutes into the flight it finally clicks with me. I said, “Pardon me once again. May I ask: are you Michael Irvin?” He simply said – “Yes.”

 

Must…fight…urge…to…ask…10…million…questions...of...my ...football...hero.

 

I didn’t want to be ‘one of those guys’ who gushes over his sports idol like a little schoolgirl. Even though I really am one of those guys.

 

I decided to have mercy on him. I told him, “I will respect your privacy.” He nodded in my direction, put his ear buds in and chilled out for most of the 2 hour flight.

 

As we were landing, I said to him, “My son has pictures of you on his wall. He wore your number (#88) when he played in the All-American Bowl, playing the very same position that you played. Would you mind if I asked you to write a short note to him on my magazine?” He graciously agreed to do so, right on the NFL draft magazine I finished reading during the flight.

 

 

 

 

 

 

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Caption: Football great Michael Irvin, and the other #88, my son. My son is the one on the right. I would likely have identified Mr. Irvin sooner if he was wearing his jersey. Alas – he was not.

 

 

 

 

Arrgh. Shiver me timbers. And so on and so forth.

 

No – this isn’t “National ‘Talk Like a Pirate’ Day”. [That’s a real thing by the way, even though it sounds like something I made up]. It’s just my clever way of introducing a brand new aspect of my business.

[michael]

eNewsletter - Making the Grade #7: The Down-Low on the Newman Colonial Coin Auction & the EAC Annual Convention

 

the above post is from dave wnucks newsletter which i loved