By Charles Morgan and Hubert Walker for CoinWeek Notes …..
Arthur B. Stewart was a coin collector initially from Pennsylvania however who later lived in Baltimore, Maryland. He was launched to coin amassing on the age of 13 when his father purchased him a small coin assortment and enrolled him within the American Numismatic Affiliation (ANA). On the time of his demise, Stewart was the final recognized of the unique 304 members of the ANA (#183), becoming a member of throughout its constitution interval of 1891-97.
A lawyer by coaching, Stewart practiced regulation after which turned a profitable businessman, serving as President of the Davis Coke and Coal Firm and as director of a belief firm and financial savings financial institution.
As a collector, Stewart targeted totally on United States kind cash however did have small sections of pioneer gold, U.S. paper cash, and international cash. In the course of the Nineteen Twenties and ’30s, he was an enthusiastic collector of commemorative half {dollars}. Though he didn’t personal a 1928 Hawaii Sesquicentennial Half Greenback (which was scarce on the time due its distribution to the island), he assembled a reasonably complete set.
Following his passing on March 17, 1970, the Stewart property employed Harmer, Rooke Numismatics, Ltd in New York to appraise the gathering. A second appraisal was performed in February 1971 by coin vendor William Anton, Jr. In the end, the household consigned the gathering to Stack’s, which held a three-day unrestricted public public sale of the gathering on the New York Sheraton Might 4-6, 1972.
Stewart’s 1875 Liberty Head Quarter Eagle Proof in “Sensible Proof” realized $7,000 ($53,060 in 2024 inflation-adjusted {dollars}) and was the sale’s high earner. Stack’s described the coin as being a “splendid blazing gem.” The 1875 Quarter Eagle Proof is a uncommon coin with a mintage of simply 20 items and doubtless not more than 10 recognized survivors. The picture of the coin shows a shadow above the eagle’s head. Sadly, we’re unable to match this picture to any of the recognized survivors.
Different highlights included Bolt’s 1873-CC Liberty Seated Greenback, which offered for $5,500 ($41,690 adjusted), his 1861-D Gold Greenback at $5,250 ($39,795 adjusted), and a “Sensible Uncirculated” 1795 Flowing Hair Half Greenback that offered for $2,900 ($21,982). Additionally offered had been full units of Peace {Dollars}, Washington Quarters via 1966, and a run of Proof Units from 1937 via 1942.
The catalog cowl is printed on heavy paper inventory and options black-and-white pictures of seven highlights from the Stewart Assortment, together with a 1795 Flowing Hair Half Greenback, a 1796 Draped Bust, Small Eagle Greenback, and an 1824 Capped Bust Quarter. Of the Stewart sale, former Stack’s President wrote that it was Harvey Stack one of the crucial vital choices of the yr.
The general format of the catalog is typical for Stack’s throughout this era. For these wishing to evaluation the contents or add to their collections, copies of the Arthur B. Stewart catalog might be acquired on eBay and from numismatic booksellers. Examples in above-average situation with the Costs Realized pamphlet promote for about $15 to $20.
Stewart’s cash ranged in grade from closely circulated to Gem Sensible Uncirculated. Most of the sale’s extra consequential cash are illustrated, however picture high quality from this era is usually too poor to permit for photograph matching of cash and not one of the forex notes or international cash are illustrated.
Choose Cash Retaining the Stewart Assortment Pedigree
Coin public sale gross sales from the Web Age enable for a lot simpler pedigree development. Sadly, many pedigrees from earlier than 2000 have been misplaced.
Of the 1,808 heaps within the Stewart sale, solely 16 might be present in Stack’s Bowers’ online archives, whereas just one is referenced by Heritage.
Three-Cent Silvers
Stewart’s Half Cent part was sparse and his Massive Cent sections had been typical of a non-specializing collector of the interval. Lots of his holdings had been in circulated situation. Stewart did have numerous Indian Head Cent Proofs, in addition to a number of Mint State Pink Lincoln Cents from 1909 via the ’60s. The Stack’s cataloger described his 1914-D Lincoln Cent as being “skillfully cleaned and now beginning to tone.”
Two Three-Cent Silver cash from the Stewart Assortment had been bought by collector Jerome S. Reznick. Reznick and the “Naples Bay Collector“, whom we’ll talk about later, are the first figures chargeable for the retention of the Stewart pedigree on cash from this sale.
1856 Three-Cent Silver
Stewart’s 1856 Three-Cent Silver was not illustrated within the catalog, however was described as being “Sensible Uncirculated, absolutely frosty,” with “some peripheral weak spot as common.” As illustrated within the Stack’s Bowers providing of August 18, 2023, we observe darkish mottled firming and silver-gold patina on what the newer cataloger notes are “unique surfaces.” Jerome Reznick paid $85 for the coin. Right this moment this coin is graded PCGS MS64+ CAC.
- PCGS MS64+ CAC #46823373: As “Sensible Uncirculated.” “The Arthur B. Stewart Assortment,” Might 4, 1972, Lot 172 – $85. As PCGS MS64+ CAC #46823373. “The Jerome S. Reznick Assortment,” Stack’s Bowers, August 18, 2023, Lot 6142 – $2,880.
1865 Three-Cent Silver Proof
Reznick additionally bought Stewart’s 1865 Three-Cent Silver Proof. The coin is darkly toned at present, with vintage inexperienced and blue alongside the periphery with apricot facilities. Stack’s described the firming as gentle and iridescent within the 1972 catalog. This was the second-most-expensive Three-Cent Silver within the sale. The most costly was Stewart’s 1858 in “Sensible Proof.” We now have been unable thus far to match that coin with specimens auctioned by at present’s main companies.
- PCGS PR63 #46671959: As “Sensible Proof.” “The Arthur B. Stewart Assortment,” Might 4, 1972, Lot 180 – $250. As PCGS PR63 #46671959. “The Jerome S. Reznick Assortment,” Stack’s Bowers, August 18, 2023, Lot 31027 – $960.
Defend Nickel
1878 Defend Nickel Proof
Stewart’s five-cent nickel assortment largely targeted on Proofs for the Defend and Liberty Head nickel sequence and Mint State cash for the Buffalo Nickels. Solely the 1866 and 1877 Defend Nickel Proofs are illustrated within the catalog, however Stewart’s 1878 Defend Nickel Proof was bought by Reznick and offered by Stack’s Bowers in 2023. Stack’s described the Proof Solely challenge as being a “Sensible Proof” with “pale gold firming.”
- PCGS PR65 CAC #46666962: As “Sensible Proof.” “The Arthur B. Stewart Assortment,” Might 4, 1972, Lot 248 $225. As PCGS PR65 #46666962. “The Jerome S. Reznick Assortment,” Stack’s Bowers, August 18, 2023, Lot 6166 – $1,200.
Liberty Seated Dime
Stewart’s assortment of Half Dimes and Dimes was extra complete than his copper and minor coin holdings and included quite a few early dates and varieties. These sections weren’t complete and included a number of circulated to About Uncirculated items, together with a smattering of Mint State cash from the early 1800s and onward.
5 of Stewart’s Liberty Seated Dimes had been illustrated (1838-O “No Stars”, 1863, 1865, 1873 “With Arrows”, and a beautifully-toned 1889-S). All besides the 1873 had been in Sensible Uncirculated. The 1873 was described as being a “Sensible Proof.”
1889-S Liberty Seated Dime, Small S
The Stewart 1889-S Liberty Seated Dime is the one dime that retains its connection to the sale. The 1889-S is barely higher than a typical date, and this coin–with its vivid blue firming alongside the periphery–caught the eye of Tom Bender, a connoisseur of Nineteenth-century United States cash.
- PCGS MS64 CAC #82124078: “The Arthur B. Stewart Assortment,” Might 5, 1972, Lot 644 – $150. As “Gem Sensible Uncirculated.” Stack’s, October 19, 2005, Lot 715 – $4,312.50. “The Bender Household Assortment,” Heritage Auctions, December 18, 2022, Lot 7093 – $1,080. Darkly toned with cobalt and purple alongside the periphery and reddish facilities.
Twenty-Cent Piece
Stewart assembled an entire run of Twenty-Cent Items by date and mintmark.
1878 Twenty-Cent Piece
His 1878 Twenty-Cent Piece is described as being a “barely impaired Proof” with “even iridescent firming.” When Stack’s provided this coin in its January 2007 public sale, the agency described it as a “Sensible Proof 55.” We now have been unable to find a newer look of the coin.
- “The Arthur B. Stewart Assortment,” Might 5, 1972, Lot 783 – $410. As “Sensible Proof-55.” Stack’s, January 16, 2007, Lot 5779 – $2,875.
Barber Half Greenback
After hanging out in our try to find Stewart’s “Sensible Uncirculated” 1795 Flowing Hair Half Greenback (Lot 968), we had been pleasantly stunned to attach a misplaced pedigree of one in every of Stewart’s Barber Half {Dollars}.
1907-D Barber Half Greenback
Probably one of many 10-finest recognized, the Stewart 1907-D Barber Half Greenback is just not illustrated within the catalog and is described merely as being a “stunning frosty specimen” in “Sensible Uncirculated Situation.” Stack’s provided the coin with its Stewart pedigree intact in October 2006, however by the point the coin was positioned within the Eugene H. Gardner Assortment by Joe O’Connor, the pedigree was misplaced. Now it’s regained.
- PCGS MS66+ CAC #16509910: “The Arthur B. Stewart Assortment,” Might 5, 1972, Lot 1100 – $190. As “Gem Sensible Uncirculated.” Stack’s, October 18, 2006, Lot 1365 – $10,925. Joe O’Connor to Eugene H. Gardner through sale, Might 2012. As PCGS MS66+ CAC #16509910. “The Eugene H. Gardner Assortment, Half IV,” Heritage Auctions, October 28, 2015, Lot 98758 – $9,400.
Silver {Dollars}
Greater than 200 numerous silver {dollars} made up a big portion of the sale’s third session, which was held on Might 6, 1972.
Lots of Stewart’s early {dollars} had been pretty worn. He didn’t personal a 1794 in any grade, and his 1795 was described as being “Wonderful… bordering on Very Wonderful.”
1799 Draped Bust Greenback with Houck’s Panacea Counterstamp
One in every of his most attention-grabbing early {dollars} was a well-worn 1799 Draped Bust Greenback that encompasses a counterstamp for Houck’s Panacea. Houck’s Panacea was an alcoholic elixir marketed within the 1830s by Baltimore businessman Jacob Houck. Promised as a remedy for over 30 frequent maladies, these consuming the potion had been merely consuming their issues away because the Panacea’s main ingredient was rye whiskey. Houck doubtless disrespected a whole lot of cash together with his counterstamp, most had been dated from the 1820s. Americana specialist John F. Ford bought this uncommon early date for his assortment.
- NGC F15 #2602537-017: As “Wonderful.” “The Arthur B. Stewart Assortment,” Might 6, 1972, Lot 1294 – $230. As NGC F15 #2602537-017. John F. Ford; Stack’s Bowers, August 14, 2013, Lot 21746 – $7,050.
1866 Liberty Seated Greenback Proof
Liberty Seated {Dollars} had been primarily produced for export and had been discontinued in favor of a real export silver greenback in 1873. Discovering Mint State examples of those points was an extremely tough activity for collectors, even throughout Stewart’s period. In consequence, almost all of his Liberty Seated {Dollars} had been well-worn. An exception was his 1842 Liberty Seated Greenback, which displays two areas of darkish firming encroaching upon the fields from the decrease rim of the obverse. We now have not been capable of match this coin, however the “Naples Bay Collector” was the excessive bidder on two of Stewart’s Proof points.
- PCGS PR64CAM #40385433: As “Sensible Proof.” “The Arthur B. Stewart Assortment,” Might 6, 1972, Lot 1336 – $290. As PCGS PR64CAM #40385433. “The Naples Bay Assortment,” Stack’s Bowers, November 13, 2020, Lot 8033 – $5,040.
1869 Liberty Seated Greenback Proof
- PCGS PR66+CAM #40385434: As “Sensible Proof.” “The Arthur B. Stewart Assortment,” Might 6, 1972, Lot 1341 – $460. As PCGS PR66+CAM #40385434. “The Naples Bay Assortment,” Stack’s Bowers, November 13, 2020, Lot 9137 – $22,800.
1870-CC Liberty Seated Greenback
The 1870-CC Liberty Seated Greenback is a troublesome Carson Metropolis challenge that’s overshadowed by the 1873-CC. The cataloguers felt that Stewart’s examples certified as “Sensible Uncirculated.” The Naples Bay collector was the successful bidder of the 1870-CC, paying $575.
The Naples Bay Collector was a Stack’s common, fairly energetic within the George F. Scanlon sale of 1973.
Sadly, this didn’t qualify as Mint State when reviewed by PCGS and CAC, however is as an alternative what one would possibly name a “tremendous slider”.
- PCGS AU58 CAC #40385435: As “Sensible Uncirculated.” “The Arthur B. Stewart Assortment,” Might 6, 1972, Lot 1346 – $575. As PCGS AU58 CAC #40385435. “The Naples Bay Assortment,” Stack’s Bowers, November 13, 2020, Lot 9138 – $24,000.
1884-CC Morgan Greenback
The 1884-CC Morgan Greenback is taken into account a ho-hum coin due to the distribution of a lot of its mintage within the GSA gross sales. Arthur B. Stewart acquired his earlier than this distribution, as he had handed away earlier than the primary GSA choices. His 1884-CC is typical with gentle tarnish. Its connection to the Stewart is owed to the Naples Bay collector’s fastidious document protecting.
- PCGS MS63 #40385438: As “Sensible Uncirculated.” “The Arthur B. Stewart Assortment,” Might 1972, Lot 1436 – $42.50. As PCGS MS63 #40385438. “The Naples Bay Assortment,” November 17, 2020, Lot 11637 – $240.
Commerce Greenback
Stewart’s “Sensible Uncirculated” 1878-CC Commerce Greenback was a High 20 coin that featured “frosty mint luster, with satin-like surfaces.” The picture represented the coin as having darkish firming alongside the underside of the reverse, with much less intense firming above and to the left of the eagle’s proper wing. We didn’t discover a coin with this firming sample amongst any of the Mint State or AU cash listed at Stack’s Bowers or Heritage.
We’re, nevertheless, capable of monitor Stewarts’s 1874-S Commerce Greenback, which isn’t illustrated within the catalog however is described as “Sensible Uncirculated” with “Full shimmering mint lustre.” This coin was bought on the sale by A.J. Vanderbilt for $150 and offered on March 22, 2018, for $2,040.
1874-S Commerce Greenback
- PCGS MS63 CAC #14618510: As “Sensible Uncirculated”. “The Arthur B. Stewart Assortment,” Might 6, 1972, Lot 1452 – $150. As PCGS MS63 CAC #14618510. “The A.J. Vanderbilt Assortment,” Stack’s Bowers, March 22, 2018, Lot 10288 – $2,040.
Quarter Eagle
1880 Liberty Head Quarter Eagle
Reznick bought this 1880 Liberty Head Quarter Eagle, described appropriately as being in About Uncirculated Situation, however with frosty surfaces and a robust strike.
- PCGS AU58 #46672618: As “About Uncirculated.” “The Arthur B. Stewart Assortment,” Might 6, 1972, Lot 1683 – $210. As PCGS AU58 #46672618. “The Jerome S. Reznick Assortment,” Stack’s Bowers, August 23, 2023, Lot 31656 – $1,500.
Half Eagle
Accumulating gold cash earlier than President Richard Nixon ended the Authorities’s prohibition on personal possession of gold bullion was a bureaucratic headache. Because of this and the prices related to gold cash, many collectors’ holdings of the period weren’t as sturdy as they may have been in any other case. Stewart’s 1800 Capped Bust Half Eagle is without doubt one of the seven cash featured on the catalog’s cowl illustration.
1800 Capped Bust Half Eagle, BD-2
Described as “Sensible Uncirculated.” The coin was bought by gold coin specialist Harry W. Bass, Jr. and retained in his core assortment, which was on long-term mortgage to the American Numismatic Affiliation, the place it served because the centerpiece of the ANA Cash Museum on the affiliation’s Colorado Springs headquarters. When the Bass Basis determined to disperse the gathering in 2022, the coin was graded MS62 by PCGS.
- PCGS MS62 #46092619: As “Sensible Uncirculated.” “The Arthur B. Stewart Assortment,” Might 6, 1972, Lot 1743 – $950. As PCGS MS62 #46092619. “The Harry W. Bass, Jr. Core Assortment, Half I,” Heritage Auctions, September 29, 2022, Lot 11035 – $22,800.
Fractional Gold
Three California Fractional Gold Cash rounded out the Stewart catalog. Collector Dr. Dexter Seymour acquired two of them.
1871-G Spherical Twenty-5 Cents, BG-838
- PCGS AU58 #27236725: As “Uncirculated.”The Arthur B. Stewart Assortment,” Might 6, 1972, Lot 1807 – $32.50. As PCGS AU53 #27236725. “The Dr. Dexter Seymour Assortment,” Stack’s Bowers, Might 9, 2013, Lot 1239 – $346.63.
1870-G Spherical Fifty Cents. BG-1022
- PCGS AU53 #27236726: As “Extraordinarily Wonderful.” The Arthur B. Stewart Assortment,” Might 6, 1972, Lot 1808 – $37.50. As PCGS AU53 #27236726. “The Dr. Dexter Seymour Assortment,” Stack’s Bowers, Might 9, 2013, Lot 1241 – $411.25.
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