The late Harvey Stack talks about the Eliasberg coin collection.
Tnhsdk7B7e8
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com
Highlights from the February 2022 Long Beach Show.
F_Wo7Jxmm-U
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com
It is interesting that Martin Logies is a tax attorney in Silicon Valley. I wouldn't be surprised if he made his money by working with tech startups, asking to be paid in stock and then hitting the jackpot maybe multiple times.
Another interesting fact is that he seems to hold his coin collection within a non-profit educational foundation. Every time he contributes money into the foundation, his contribution is tax deductible likely offsetting his high income. He likely uses that money in the foundation to buy coins. According to public records, that foundation had close to $23 million in assets as of 2018. Another benefit is that he pays no taxes within the foundation if he sells his coin collection. So we see that he has sold parts of his collection several times and likely avoided hefty tax bills when he felt it was the right time to sell. So his hobby gives him a hefty tax write-off and he can buy and sell without tax consequences.
In California he probably has a marginal tax rate on income that exceeds 50% on ordinary income, maybe 25-30% all in on cap gains. So when he goes to an auction, he is paying 30-50+% less on his bid than everyone who is not employing a tax-advantaged strategy. Apparently he's no dummy.
By holding his collection within a charity he's probably saved over $10 million in taxes. It's not unlike the reason for spending in high end art, rare cars, antique furniture and more recently sports memorabilia. The tax code supports the astronomical prices paid at the top end of the collectibles markets.
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com
Thomas Jefferson's Coin Collection An article courtesy of the Thomas Jefferson Encyclopedia. The following paragraphs, compiled by Monticello researchers, offer a chronology of Thomas Jefferson's coin-collecting activities:
1784-1789. During the 1780s, Jefferson assembled European coins of silver, copper, and bullion as possible "subjects for consideration" by the American mint. His travels took him to France, Italy, Germany, Holland, and England. Twenty years later, Jefferson recalled his efforts in a letter to Caspar Wistar: "While visiting some parts of Europe, I thought it might be useful to bring home some specimens of the different coins I met with, some of copper, some of silver, & others of a mixture of both called billon. having then a mint to [be] established I supposed they might furnish subjects for consideration, & sometimes imitation."1
1786. In December 1786, Jefferson received some "Moorish coins" from David Salisbury Franks, who had recently returned to Paris from Morocco, where he was secretary to an American mission.2 Probably during that same month, Jefferson saw the coining methods of Jean Pierre Droz at the Paris mint and forwarded two of Droz's sample ecus to John Jay.3 It is possible he might have procured and retained other samples of Droz's coins, which he called as "beautiful as a medal."4
1792. Jefferson had a "set of copper promisory notes, and coins" made at Matthew Boulton's Birmingham works. He submitted them for George Washington's inspection, noting their superiority "... over any thing we can do here."5 In July, Jefferson received from the U.S. mint 1,500 half-dimes "of the new coinage."6
1793. In March, Jefferson received "a Book of medals and Coins (as numberd and markd)" made at Boulton's mint, as well as "some of the trash of half pence" of the English towns. They were sent by Thomas Digges, an American then in Birmingham. Also included were two of "the American Cents" made in 1791 at Obadiah Westwood's, on speculation for W. & A. Walker (images of George Washington and of an eagle, with motto.)7
1797. In June, Jefferson received from the U.S. Mint dimes and half-dimes to the value of $300.00. A half-dime of 1797 was uncovered in archaeological excavations at Monticello.8
1798. Jefferson transmitted to the American Philosophical Society "a large square plate of a Swedish Copper Coin," the gift of Thaddeus Kosciuszko.9
1805. In April, Jefferson received from Nicolai Henrick Weinwich of Copenhagen "a box containing 150. pieces of Roman coin in bronze of different sizes from the reign of Augustus to that of Theodosius." Two weeks later he forwarded them to the American Philosophical Society, where they might be "of more extensive use."10
1806. In June, Jefferson sent the coins and medals he had assembled over the previous twenty years to the American Philosophical Society, which recorded the donation as "a Collection of Coins and Medals." Jefferson's accompanying letter to Wistar described the beginning of the collection, as he traveled through Europe. He had subsequently added "some other coins & some medals which have occasionally come to my hands." He believed his coins would "probably become useful" to the American Philosophical Society, "by being open to examination." Also, they might "form part of a series which future acquisitions may enlarge."11
- Lucia Stanton, 1994
Footnotes
1. Jefferson to Wistar, June 20, 1806, Thomas Jefferson Papers, Library of Congress. Transcription available at Founders Online. 2. See Franks to Jefferson, [December 1786], in PTJ, 10:651. Transcription available at Founders Online. See also MB, 1:xxx, 1:xxxn90. Transcription available at Founders Online. 3. Jefferson to Jay, January 9, 1787, in PTJ, 11:29-33. Transcription available at Founders Online. 4. Jefferson to Francis Hopkinson, December 23, 1786, in PTJ, 10:625-26. Transcription available at Founders Online. 5. Jefferson to Washington, November 16, 1792, in PTJ, 24:626. Transcription available at Founders Online. 6. MB, 2:xxx. Transcription available at Founders Online. 7. Digges to Jefferson, March 10, 1793, in PTJ, 25:347-51. Transcription available at Founders Online. 8. MB, 2:xxxx. Transcription available at Founders Online. 9. American Philosophical Society, Proceedings, 22, pt. 3 (Philadelphia: American Philosophical Society, 1885), 266. 10. Jefferson to Wistar, April 30, 1805, American Philosophical Society. Transcription available at Founders Online. See also Jefferson to Nicolai Henrick Weinwich, April 30, 1805, Thomas Jefferson Papers, Library of Congress. Transcription available at Founders Online. 11. Jefferson to Wistar, June 20, 1806, Thomas Jefferson Papers, Library of Congress. Transcription available at Founders Online.
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com
Over the course of two decades, Thomas Jefferson assembled a collection of some 300 coins and medals. But he had collected them for the benefit of the American people. Jefferson had already donated some of the more interesting pieces to the American Philosophical Society. And in June of 1806, he gave them the remainder of his collection. However, you won't find it on display in their museum.
Jefferson's coin collection remained with the American Philosophical Society for over 160 years. Then, in 1967, the APS combined it with other numismatic items - and sold them all for just $1,650.
The buyer, a Philadelphia antiquities dealer named Seymour Moss, apparently sold the coins before his death. But today their whereabouts remains a mystery. We can only hope the Jefferson coin collection will resurface someday and be made available to the public.
LCC team
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com
That is the Littleton Coin Company research team. They refer to themselves as the LCC team.
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com
Thanks Spence and jbuck. Here is an interview with John Albanese, the founder of CAC, where he goes over why nine toned coins did not receive the CAC designation.
OwXJf_NjJ38
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: "It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website:https://fairfaxcoins.com
Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited. Contact Us | Advertise Here | Privacy Policy / Terms of Use
First Page
Previous Page
Posted 05/21/2022 1:08 pm
