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Rare Money Blog

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.

By Harvey Stack, Co-Founder

​Right after the first of the year, the Bank opened its new building with the R.L. Miles Collection on display. It attracted thousands of visitors for the first 30 days it was open. Another highlight of the exhibit was the display of The Mace of Baltimore, the symbolic Mace given to the governor of the Colony, which indicated he had the royal power from the King of England.

By Harvey Stacks, Co-Founder

​R.L. Miles, Jr. (Skinny as I called him)  became a collector when he was employed by his family at the J.H. Miles Oyster Co. in Norfolk, Virginia. The Miles family harvested oysters from Chesapeake Bay for over 150 years. The company had "shuckers" on site, occupying as many as 1,000 sinks, where these workers opened and prepared the oysters for shipping. They were packed in ice to be shipped as far as the available transportation allowed.

By Harvey Stack, Co-Founder

​The year 1968 saw important changes in the entire numismatic world. Attitudes toward precious metals shifted, several important collections entered the market, the extensive J.K. Lilly Collection joined the National Numismatic Collection, and the public’s interest in collecting both domestic and world coins flourished, infusing the coin marketplace with renewed energy.

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