Collectors learned that the Mint was still producing over three million Proof sets each year and that sales were not keeping up. Large stores werebuilding up in the Mint's vaults. Rolls and bags of current issues of U.S. coins in Mint State lost much of their premium, and collectorsreturned to building collections of more classical coins. This revival led some old time collectors to decide to sell their collections, as it was anopportunity to get a more favorable price. These collections could be quite comprehensive, even including more modern pieces. These became available,sometimes intact, and could be sold to beginner collectors who appreciated having some of the initial work done for them.

Collectors who had basic "short sets" could advance by expanding them into full runs or by specializing in a series that had moreinterest for them. It could put them on the path to investigating die varieties as well as earlier issues. Many moved on from Proof sets and moderncoins to half cents, large cents, half dimes, and early dimes, quarters, half dollars and silver dollars. The additional challenge of completingcollections piece by piece, either of a series or of varieties, was very enjoyable and brought casual collectors deeper into the hobby. Old timecollections coming on the market resulted in more fresh coins, increasing interest in numismatics by making things more exciting.

Stack's continued to be a leading public auctioneer, providing specialized catalogs for the sale of the most desirable collections. In 1962 wewere fortunate to start the spring season with a few smaller collections. We then were the official auctioneer for the Greater New York NumismaticConvention where we were privileged to offer The R.E. Cox Collection of Half Dollars, 1794 to date: a date, die variety and mintmark collection withover 500 different coins. Though not complete with every known variety, it was complete as to all varieties then listed in the Guide Book. It alsocontained rarities that were rarely seen in the market place. It was one of the most outstanding collections of half dollars and collectors were veryenthusiastic.

At the sale we had one of the largest audiences to participate in a specialized collection we had every experienced. The collection containedoutstanding half dollars of 1794, 1795 3 Leaf, both l796 varieties as well as 1797. The extremely rare 1838-O was offered as was the 1847/6, 1853-ONo Arrows, 1866-S No Motto, 1870-CC, 1878-S, and the 1892-O with Microscopic O. The R.E. Cox Collection was known nationwide, as Mr. Cox had showedthe coins at many exhibits, coin shows and schools. He was dedicated to displaying his collection, and prepared for each coin a cardboard holder, 2 X3 inches. In the center of each holder he placed a coin and hand-labeled each with pertinent information about the coin. These blocks were placed inframes measuring 2-1/2 by 3-1/2 feet in size, in perfect order by date and mint, with the great rarities highlighted in the frames. It was a greatway to show the coins for a public exhibition.

At the Stack's auction, each coin was offered still in its individual holder, which were delivered to the buyers along with the coins as proofof pedigree. Many were retained in their original holders until more recent times as collectors found other ways of showing and keeping their coins.However, to this day many of the Cox Collection coins still remain as they were sold in 1962, preserved as they were housed originally.

At the same time that we sold the Cox Collection, in the same catalog we offered other collections, collectively making the sale have well over3,000 lots. This sale was a highlight of the year. Other fine auction offerings would follow in 1962, as I will describe in my next article.

To read the complete article, see:
Harvey Stack Remembers: Growing up in a Numismatic Family, Part 31November 13, 2018 (https://www.stacksbowers.com/News/Pages/Blogs.aspx?ArticleID=3173)

To read the earlier E-Sylum article, see:
HARVEY STACK'S NUMISMATIC FAMILY, PART30(http://www.coinbooks.org/v21/esylum_v21n44a18.html)