Commems Collection Classic: Collecting Collectors - Eugene Spier

In January 1987, as part of the Florida United Numismatists (FUN) Show, Mid-American Rare Coin Auctions, Inc. conducted an auction that included a top-tier US commemorative coin collection that is often forgotten today - the collection of Eugene Spier. (Spier's top-tier collection of Peace dollars was offered within the same auction.)

Mid-American Auction Catalog - FUN Show 1987 - Front Cover


Note: Mid-American Rare Coin Auctions, Inc. was established in 1984 by Jeff Garrett in Lexington, Kentucky. It was sold to Heritage Auctions in 1993. Garrett continues to be a noted figure within the hobby.

Spier assembled his US Commemorative Coin Type Set (Silver) over a five-year period in the early- to mid-1980s. The collection consisted only of "raw" coins, with nearly all being described as "Gem Uncirculated" or "Superb Uncirculated" (i.e., MS-65 and MS-67, respectively).

Spier preferred coins of outstanding color, which is evident from the lot descriptions in the catalog. Unfortunately, the catalog includes only black-and-white images of the coins - such were the times. There are two exceptions: a 1926 Oregon Trail Memorial Half Dollar and a 1936 Wisconsin Territorial Centennial Half Dollar.

Of the Oregon Trail the catalog effused:

"The color of this coin is absolutely breath-taking. Every color of the rainbow combines on the surfaces of this piece in a swirling, coruscating blend."

1926 Oregon Trail Memorial Half Dollar - Superb Uncirculated


In describing the Wisconsin, the cataloger didn't hold back:

"A dazzling, colorful example, with deep iridescent toning on either side...Without a doubt, this is one of the "Finest Known" examples."

1936 Wisconsin Territorial Centennial Half Dollar - Superb Uncirculated


The Oregon Trail coin had a Hammer Price of $5,100 ($5,610 with 10% Buyer's Premium); the Wisconsin half dollar hammered at $2,100 ($2,310 with 10% Buyer's Premium).

Overall, the Eugene Spier Collection of Classic US Commemorative Coins was an outstanding collection that, had it been PCGS graded, would likely rank among the finest ever assembled still today. (Anecdotally, the Oregon Trail coin was later submitted to PCGS and was graded MS-67! I wonder how many other coins from the collection enjoyed the same fate?)


For more of my stories about commemorative coins and medals, including other Collecting Collectors stories, see: Commems Collection.