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A Collection Of What We Love In Numismatic History

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Pillar of the Community
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 Posted 05/12/2022  1:20 pm  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
Indeed it was shocking that he died at only 54 years old. Seems like he made the most of his time on earth.
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 Posted 05/12/2022  9:13 pm  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
Dell Loy Hansen and his incredible U.S. coin collection.

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 Posted 05/17/2022  02:35 am  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
Eric P. Newman on the origins of the dollar sign ($)

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 Posted 05/17/2022  09:12 am  Show Profile   Bookmark this reply Add Raised on rock to your friends list Get a Link to this Reply
The Dell Loy Hansen and Eric Newman videos are very interesting.
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 Posted 05/17/2022  09:47 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Eric P. Newman on the origins of the dollar sign ($)
Fascinating!
Pillar of the Community
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9070 Posts
 Posted 05/21/2022  1:08 pm  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
The late Harvey Stack talks about the Eliasberg coin collection.

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 Posted 05/23/2022  02:11 am  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
Highlights from the February 2022 Long Beach Show.
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 Posted 05/23/2022  10:38 pm  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
The Cardinal collection's large cent date set.
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 Posted 05/23/2022  11:18 pm  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
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
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Edited by numismatic student
05/24/2022 01:21 am
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 Posted 05/27/2022  02:04 am  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
The sale of the $6.6 million 1794 silver dollar.

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 Posted 05/27/2022  7:08 pm  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
Coinage Act of 1792 - An Act establishing a Mint and regulating the Coins of the United States
[Sess. 1, ch 16, 1 Stat. 246-251; April 2, 1792]



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 Posted 05/28/2022  7:02 pm  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
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
Highlights of my coin collection: https://coins.www.collectors-societ...aspx?s=31920
Help me optimize my photo setup: http://goccf.com/t/411871
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 Posted 05/29/2022  09:44 am  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
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
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Edited by numismatic student
05/29/2022 8:53 pm
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 Posted 05/29/2022  9:37 pm  Show Profile   Bookmark this reply Add Spence to your friends list Get a Link to this Reply
That is a really interesting chronology about Thomas Jefferson's coin collection. How cool would it be to have provenance going back to him?

Also, a somewhat random question for you: what is the LCC team?
"If you climb a good tree, you get a push."
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"The danger we all now face is distinguishing between what is authentic and what is performed."
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Pillar of the Community
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 Posted 05/29/2022  9:50 pm  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
That is the Littleton Coin Company research team. They refer to themselves as the LCC team.
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