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Rare Money Blog

By Harvey Stack, Co-Founder

​As 1978 began, inflation continued to grow as did interest in numismatics. Similar to 1977, more collectors seemed to be entering the hobby, and we saw this in increased sales of reference materials as well as growth in the number of collecting boards and other accessories being sold. Membership numbers at the American Numismatic Association were also going up. The Mint issued well over three million Proof sets in 1978, items that sold at a premium due to the special striking and packaging. This large quantity was another indication that there were many people out there collecting.

By Harvey Stack, Co-Founder

​In 1976 Stack's had conducted very successful auctions, led by our ANA Convention sale, but also featuring other fine collections. Even with the number and size of the sales in 1976, Stack's was unable to schedule a number of smaller but still outstanding collections. This meant that 1977 would also be packed with public auctions, again seven different sales. In February we offered an extensive collection of U.S. coins formed by T. Henry Allen. The scope of the collection was large, and many attended the sale.

By Harvey Stack, Co-Founder

​After having a very successful year in 1976, the market seemed to want to keep growing, as people saw coin values going up. While 1977 opened with a slow start in January, enthusiasm grew and the hobby became very active. This was helped by prominent cabinets coming on the market, as certain collectors either passed away or decided they were getting too old to continue. This cycle of excellent material coming up for auction and encouraging new collectors to increase their participation, created a market that was dynamic and exciting.

By Harvey Stack, Co-Founder

​After our sale at the 1976 ANA Convention was completed, a group of dealers gathered in the lobby of the Sheraton Hotel to discuss our success selling this massive group of coins in a single sale. Ed Rochette, the executive director of the ANA, asked a group of us if we could have a private talk about future ANA sales. I was exhausted after selling thousands of lots during the past few days, but a meeting was important, so I attended.

By Harvey G. Stack, Co-Founder

​Stack's auction program for 1976 was very exciting, for not only did we have the contract to present the official auction at the ANA’s annual convention in the summer, but we offered seven other major sales as well. Four were before the ANA sale and three came after. In order to get all this work done and continue our normal coin business in the shop and on the road, many evenings and weekends were required of us.

By Harvey Stack, Co-Founder

​As I mentioned at the end of my last article, there was a last-minute glitch when the time came for the Eliasberg Collection to make its way to the Philadelphia Mint. It may sound unreal, but the grand display of the collection for the U.S. Bicentennial nearly didn't happen because of a technicality that affected one of the only people who had the power to put a halt to the plan.

By Harvey Stack, Co-Founder

​What, you may ask, made the year 1976 so important at Stack's? First of all, I (Harvey Stack) was appointed by President Gerald Ford to serve as a governor at the Annual Assay Commission in Philadelphia. This was a great honor as it was our country's bicentennial year, and also turned out to be the last year this commission was to be convened.

By Harvey Stack, Co-Founder

​1975 was a great year for the continued growth of Stack's. In January 1975, I (Harvey G. Stack) was appointed to be a Governor of the United States Assay Commission for 1976 – the year of the Bicentennial of our nation. I was appointed by President Gerald Ford and it was a great honor to be a part of this, a process that had been established for nearly 200 years. It was felt that this might be the last Assay Commission to be convened as there was no longer precious metal in United States coinage.

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