They also announced that they began to ship the first coins in the American Women Quarters Program. The first quarter honors Maya Angelou. Angelou was a writer, performer, and social activist who rose to prominence by the publishing of her autobiography I Know Why the Caged Bird Sings in 1969.
These releases are only the beginning. The U.S. Mint will be releasing four additional quarters, American Innovation Dollars, American Eagle coins, the National Purple Heart Hall of Honor Commemorative Coins, and others. Do not forget about the continuing of the Morgan and Peace Dollar programs.
With all of the new releases available, I ask…
Although they were of different ages, Stack and Eymery had similar philosophies. Both wanted to bring advancement to the hobby by expanding what people collected. Stack was one of the people who advocated for the 50 State Quarters program, and Eymery was an advocate for international collecting for collectors from all over the world.
It was not enough for both to look beyond their primary interests. Stack could have made a good living from his New York City store selling rare coins, holding auctions, and serving a high-end community without being involved in areas that would help the average collector. Eymery took her passion and made a career in several countries, including the United States and Hong Kong. She became an ANA Governor overcoming xenophobia because she spoke with an accent even though she was a U.S. citizen.
Both stepped beyond their comfort zone to help the hobby and should be role models for all of us. Stack and Eymery went beyond their self-interests to grow the hobby. They had their business interests, but they could think beyond an alleged correct way to collect for the sake of the hobby.
What will your legacy be? Are you going to leave the hobby static or grow it by creating a legacy that collecting is fun and does not have to be limited by plastic-encased coins or printed albums? Or will you embrace everything that the hobby offers, including areas you do not collect?
For the memory of Harvey Stack and Muriel Eymery, we should commit to leaving a legacy of progress and inclusion in the hobby that all of us want to grow and thrive.
And now the news…
Eymery advocated expanding numismatics worldwide as a member of the Board of Governors and in her career. Eymery worked for Spink and Sons and was Vice President of International Business Development at PCGS. She also worked for the French Mint that taught her the global market dynamics.
While considering running for the Board of Governors in 2021, I spoke with Eymery about our shared ideas about the hobby. We found a common interest in expanding numismatics beyond the basics to include the world community and other collectibles. Eymery was a bright light in the future of the numismatic community.
Stan Chu of Boston Rare Coins and Collectibles wrote on Facebook that Eymery’s sister Carol said that Muriel had battled lung cancer for the last six months. She “passed away peacefully and painlessly in her [sister’s] arms.”
As a memorial to Muriel Eymery, I will make made a donation in her memory to the ANA. Please consider doing the same.
The Royal Canadian Mint has released its precious metals variation on the Maple Leaf but has issued a commemorative Metal and Magnet set promoting Mental Health. Proceeds from the sale of the set will be donated to Kids Health Phone, a 24-hour support service for Canadian children.
The Perth Mint, New Zealand Mint, and the Pobjoy Mint announced several non-circulating legal tender coins that will upset traditionalist collectors.
With the American Women Quarters program, there should be a lot of exciting coins to collect.
And now the news…
My thoughts will be below the announcement.
It is with great sadness we announce the passing of our friend and founder, Harvey G. Stack on January 3, 2022. His leadership over the years spearheaded our operations and his kindness and mentorship to staff, collectors, dealers, numismatic organizations and colleagues will never be forgotten.
Harvey was born in Manhattan on June 3, 1928, the son of Morton M. Stack and Muriel Stack. He grew up in Bronx and Jamaica, New York and attended NYU. His life revolved around his family and around numismatics, as generations of the Stack family built upon the rare coin business founded in 1933 by Harvey’s father, Morton, and his uncle Joseph at 690 Sixth Avenue in Manhattan. Presenting their first public auction in 1935, Stack’s quickly progressed to larger premises and a growing reputation. Although as a youngster Harvey worked after school and during vacations at the firm’s Manhattan coin store, it wasn’t until 1947 that he went to work full time for Stack’s Rare Coins, a career that would last more than 70 years. As one of the second generation of family members to join the firm, Harvey worked alongside his father, uncle, and cousins Norman and Benjamin, supported by a staff of experts that comprised many of the most well-known professional numismatists of the 20th century.
In 1953 Stack’s moved to a gallery at 123 West 57th Street, a location that would be home to the firm for more than 60 years and become a popular destination, known as the “clubhouse” for collectors from all over the world. As a family member, Harvey’s responsibilities were wide ranging, assisting clients in the store, traveling to pick up collections and attend conventions and coin shows, cataloging auction lots, auctioneering, and any other work that needed to be done. He became an expert in many areas of numismatics and was able to translate his warm and jovial personality into long-term relationships with the collectors and dealers he worked with over his career.
The decades following World War II were times of great growth for Stack’s. Besides opening a new and improved location, they were tapped to present at auction many important collections including Anderson-Dupont, Davis-Graves, Charles A. Cass (“Empire”), R.L. Miles, Massachusetts Historical Society, Samuel Wolfson, and George Walton, as well as conducting public auctions in conjunction with major numismatic shows including the American Numismatic Association and the Metropolitan New York conventions. In the 1970s, Harvey’s son Larry and daughter Susan joined the firm, bringing in a third generation.
Harvey and the Stack family were instrumental in building some of the greatest collections of their time, including the cabinet of gold coins assembled by Josiah K. Lilly, chairman of the Eli Lilly & Co. pharmaceutical company. After Lilly’s death in 1966, his collection of over 6,000 coins became part of the National Numismatic Collection at the Smithsonian, a process aided by Harvey and other members of the Stack family. Over the decades, Harvey and the Stack family also built a relationship with Louis E. Eliasberg, Sr., who accumulated the only complete collection of United States coins ever formed. In 1976, when the nation was celebrating its Bicentennial, Harvey and the firm helped facilitate the display of Eliasberg’s incomparable collection at the United States Mint in Philadelphia.
Harvey Stack’s role in numismatics was not purely business. He fought for clearer import regulations on coins from overseas and testified before a congressional subcommittee leading up to the Hobby Protection Act of 1973. He worked with the American Numismatic Association and other professionals in the effort to develop a standardized grading system for coins. In 1996 he appeared before the U.S. House Banking Committee to propose the 50 State Quarters Program, which brought countless new collectors into the hobby. Harvey Stack served on the board of the Professional Numismatists Guild for nearly a decade and acted as its president for two years beginning in 1989. In 1993 he received the PNG’s Founder’s Award, their highest honor, for his dedication to the hobby. Over the years, Harvey was a great supporter of the American Numismatic Association, the American Numismatic Society, and the Smithsonian Institution. He was a long-term member of the International Association of Professional Numismatists, as well as numerous other numismatic societies.
As the 20th century turned to the 21st, Harvey Stack and Stack’s were still going strong, as Larry and Harvey brought to auction the incredible John J. Ford, Jr. Collection, and many other famous name cabinets. In addition, they partnered with Sotheby’s in the record-breaking sale of the first 1933 Saint-Gaudens double eagle to cross the auction block. In 2011, Stack’s merged with Bowers and Merena to create Stack’s Bowers Galleries, one of the top numismatic auction firms in the country and a company that continues the Stack family’s legacy of presenting important numismatic cabinets and realizing record-breaking prices. Harvey remained involved in the new business until the very end, telling the company’s history, mentoring staff members, and maintaining his relationships within the hobby. Most recently he and Larry worked with the estate of long-time friends and clients Mark and Lottie Salton to bring their outstanding collection of world and ancient coins to market. It is unfortunate that Harvey will not be there to see the fruits of his labor as this remarkable cabinet crosses the auction block in 2022 and 2023.
Harvey was predeceased by his parents, his uncle Joseph, his cousins Norman and Ben. He is survived by his wife, Harriet, children Larry (Loretta) and Susan (Larry), grandchildren Rebecca (Jimmy) and Matthew (Tanya), and five great-grandchildren: Bryce, Avery, Dylan, Brielle and James.
Services will be private. In lieu of flowers, donations can be made to the Leukemia & Lymphoma Society, the American Numismatic Society or a charity of choice.
I met Harvey Stack for the first time in 1971 at their 57th Street store in Manhattan. There was no formal “take your child to work” program in those days. My father would take me into the city with him one day a year, and they would give me busy work to do when I was not doing my homework. But the fun was around lunchtime.
After grabbing a sandwich, we would walk over to Stack’s to look at the coins and buy a few. It did not matter if you were coming with your father, an experienced collector, or even if you were a change picker. Everyone was welcome at Stack’s.
The first time I visited the store, there was a lot of activity. A lot of people were talking about and looking at coins. I remember that Harvey Stack was presiding over the gaggle. When he saw my father and me, he came over to help us. Aside from helping me pick out two Roosevelt Dimes for my collection, he taught me what to look for in a good dime. It was the first time I saw a Buffalo nickel.
We left that day with the dimes, a few Buffalo nickels, a Whitman Classic Album for the nickels, and a new Red Book. It was more than my father wanted to pay, but he knew it would keep me occupied all afternoon.
We lived in New York for two more years before moving. I continued to visit Stack’s when I was in the area. The store always had a lot of activity, but Harvey Stack had slowed down in the last few years.
Stack’s was the first dealer I visited, and I will never forget Harvey Stack for helping me get started.
We like to speculate on many things that will happen in the future. Sports bettors have been watching the bowl games to see how their prognostications will make money, and market prognosticators bet the winners and losers of companies.
Prognostication is not something that is pulled out of a hat. Past performance and the environment are some of the information used to make the decisions.
At the end of August, the Accredited Precious Metals Dealers (APMD) predicted that at year-end, gold would close at $1,897, silver $28, and platinum $1,153. The APMD is a professional organization of precious metals dealers with a mission to educate and promote market integrity. These are the people within the market and have the background to understand the nuances.
On the other end of the weekend’s prognostication were the oddsmakers who earn their living predicting the outcome of football games. For the Alabama vs. Cincinnatti Cotton Bowl game, the oddsmakers made Alabama a -13.5 point favorite. For those not aware of sports betting, that means the oddsmakers believe that Alabama would win by 13.5 or more points. If Alabama loses or wins by 13-points or less, you lose the bet.
The Cotton Bowl’s over-under was 57.5 points. If the gambler believes that the game’s combined score would be more than 57.5 points, you will bet the over.
For the Orange Bowl, Georgia was a -7.5 favorite over Michigan with an over-under of 46 points.
Who did better?
In the Cotton Bowl, Alabama beat Cincinnatti 27-6. Although Alabama beat the spread, only those who bet the under won money. The story was similar in the Orange Bowl where Georgia blasted Michigan 34-11, beating the spread and going under the predicted 46 point total.
How did the APMD do? As we check their results, the comparison also includes the London Bullion Market Association (LBMA) consensus prediction is included to compare results. The LBMA is the operator of the London markets that set the worldwide price of precious metals. Using the prices at the close in the New York Metals Market on Friday as reported by Kitco:
|Medal||August 31 Prediction||December 31 Close||Difference (Pct)||LBMA Consensus|
The difference between the markets is that the gambling bookmakers make their living on being right about the odds, and precious metals dealers make money on their premiums on selling coins and bullion.
Bookmakers have to make the correct predictions daily. An incorrect prediction on a big game will cost the bookmakers millions of dollars, and too many bad odds predictions could bankrupt a sportsbook.
Bullion dealers can adjust the premiums as the metals rise and fall, and they have to promote their product and let the buyers come. Bullion inventory usually turns over faster than the changes in the market, limiting the price risks. As long as the dealer is selling within the spread of the spot price and the premium, their incentive to be correct in their metals predictions is reduced.
All investments are a gamble, and the difference amongst the markets is what stake the prognosticators have on the outcome. You would have made more money by betting on Alabama and Georgia to win their games than most precious metals predictions.
Georgia opens as a -2.5 favorite over Alabama for the National Championship in Indianapolis on January 10, 2022. The over/under is 51.5, according to Draftkings, and Sports Illustrated published a trends analysis for the betting line.
It’s your money. Bet wisely.
And now the news…