A Big One That Got Away!

In September 1994 I received a call from a long time customer and friend with an interesting numismatic opportunity.  This fellow was a well connected business owner in the Spokane area; his coin interest and expertise were common knowledge.

A local bank contacted him for advice dealing with a special coin collection and he referred them to me.  I flew to Spokane to take a look.

What I found was one of the more interesting collections I've had the opportunity to examine during my career -- approximately 50 pieces of Bust Gold before 1840.  Highlights included:

1796 Stars $2.50 Gold
Heritage Auction #1173

1796 Stars - $2.5

1808 - $2.5

Also 1807, 1829, 1830 and 1831 - $2.5

1795 - $5

Several nice $5s between 1800 and 1812, a few in the 1820s, including 1823, 1826 and 1830

1795 - $10

1838 - $10

Also 1798, 1799, 1803 - $10

This was a fabulous collection, worth between $250,000 and $300,000 at the time.  I worked up the details and presented a strong offer.  The bank and heirs both accepted my offer and we prepared to move forward.

When I didn't hear anything more after a few days, I gave the banker a call.  Bad news!   A note had been discovered within papers of the deceased directing heirs to have Stacks auction the collection in the event of his demise. Turned out the collector had purchased virtually all of these pieces from Stacks.  

Some days you win, some days you don’t.