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Rare Money Blog

By Harvey Stack, Co-Founder

​The year 1972 continued some of the trends of earlier years in the hobby. Inflation entered our hobby in force and demand for coins exploded. The American Numismatic Association (ANA) got many new members, as did the Professional Numismatic Guild (PNG). Coin newspapers, especially the weekly editions, added many subscribers, and local clubs developed or expanded their membership.

By Harvey G. Stack, Co-Founder

​In 1971, Stack’s continued to offer specialized collections of United States coins, as well as world and Ancient coins. Most were smaller in scope but there were two major ones.

By Harvey Stack, Co-Founder

The year 1971 continued the inflation of 1970, with the value of precious metals advancing each month. The public believed that silver would continue to rise, and the search for earlier silver coins in change grew more intense. Melting of silver coins was allowed and the value of each ounce of silver advanced. Speculators and investors crowded the market and the demand was stimulated further as more people learned of the increasing value of each U.S. silver coin struck before 1965.​

By Harvey Stack, Co-Founder

​From the very beginning of 1970, Stack's was awarded numerous collections for auction, so much so that we were able to have 10 different auctions in the 12-month period. Four of the collections we offered in 1970 were of great importance, as they had rare coins, extremely choice coins and offered the opportunity in each case to find items that were not often available.

By Harvey Stack- Co-Founder

​As the 1960s came to a close, there was a surge in interest in numismatics, with new collectors and the return of many who had collected earlier. Inflation became an economic worry and U.S. currency was losing its value on world markets. People read the signs, and started to search for new ways to retain capital and even increase their holdings.

By Harvey Stack, Co-Founder

​​While the R.L. Miles Collection was a highlight, Stack's was able to present many other fine public auctions in 1969. In May Stack's offered the Illinois Collection, a comprehensive assemblage of ancient, foreign and United States gold coins, consisting of some 1,011 attractive numismatic lots.

By Harvey Stack, Co-Founder

​Stack' s started their 1969 auction season with a January offering of United States, gold, silver and copper coins, perfect for the general collector as there were over 1,100 lots featuring a wide variety of grades and rarity. There were also smaller specialized collections, including one featuring Encased Postage Stamps.

By Harvey Stack, Co-Founder

​First of all, earlier coins found in circulation that were made of silver grew in value as precious metal, so that each coin was worth more than the face value. Simply speaking a silver dime was worth almost $1, a quarter $2.50 and a half dollar about $5. As the press constantly reported that these silver coins had such a premium, the treasure hunt was on in pocket change as well as for old coins in piggy banks or in cookie jars.

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