Eric P. Newman Collection

[Texans Coins]

Could you bear to see your collection be sold off?

 

I think it's an interesting question. When the collection started being sold off, I was surprised that Mr. Newman was still alive. I have put a lot of time, effort and years into my collection and I honestly don't think I could bear to see it sold off. I think it would be like seeing a child leave you.

 

When I pass, if I don't have kids that want to continue the collection, I have left my wife instructions on how and where to sell it off and a reasonable expectation of what the collection would sell for.

 

What are your thoughts? Could you see your collection sold off?

 

Marcus

 

See more journals by Texan's Coins

[RWB]

Mr. Newman's collection was about knowledge and research - not money. In research, you learn from objects, then move on. The proceeds go to a foundation that will continue his legacy - through the Newman Numismatic Portal based at Washington University of St. Louis - for future generations.

[Electric Peak]

Marcus,

 

No, I don't think I would feel very good about selling off my "collections", that is, sets that I have put time and effort into. But individual, "random" coins? No problem. I have sold a number of duplicates over the years, without a tear, and without looking back.

 

In one case, I bought a coin for the purpose of selling it. I was at a Bowers & Merena auction in Baltimore to get my 1820 large cent. Having secured it, I stayed for the rest of the early copper. Up came an 1854 cent, graded MS65BN by NGC. At the time, the gray sheet listed it at $645, I think. The current bid was just $250-ish, so I bid $275 and won! The next morning, I paid for it ($316.25 with buyer's premium) and proceeded to sell it to a dealer at the show for $550.

 

So when I see an opportunity to make some money, I'll sell things that aren't part of the core collection. But that collection isn't going anywhere unless money becomes a problem. I can see myself enjoying it for a good long time, especially since I don't get to see it that often. Also, I am increasingly interested in studying the coins and their associated history. That deepens the bond...

 

Alan

[brg5658]

Mr. Newman turns 104 next week. He has left a legacy for the hobby via his Money Museum, and I think that he is wise in dispersing his collection before his time comes. He has certainly had a life full of numismatics!

[johnny9434]

Mr. Newman turns 104 next week. He has left a legacy for the hobby via his Money Museum, and I think that he is wise in dispersing his collection before his time comes. He has certainly had a life full of numismatics!

well said and some of us might never see that. its good to see that to and that he shared as well

[coinman_23885]

If I was old or terminally ill, then yes, I would liquidate my own stuff so that my heirs would be left with cash and wouldn't need to deal with the headaches of liquidation. I am fond of some of my coins, but coins are material objects that can be dispensed with when needed or expedient.

[Ultra Cameo Collection]

I would literally cry if I had to sell my collection.

 

Being over 100 in America is like being terminally ill, you may die at any moment. You never know what you are going to do when you get old, hopefully your mind will still be intact and you can choose what to do. Mr. Newman has chosen to do something very admirable with his collection.

 

The bigger news should be the D. Brent Pogue collection sale coming up. This is going to be one for the record books when it is all said and done. He ironically is still alive as well. They are starting a new trend.

[brg5658]

I would literally cry if I had to sell my collection.

 

Being over 100 in America is like being terminally ill, you may die at any moment. You never know what you are going to do when you get old, hopefully your mind will still be intact and you can choose what to do. Mr. Newman has chosen to do something very admirable with his collection.

 

The bigger news should be the D. Brent Pogue collection sale coming up. This is going to be one for the record books when it is all said and done. He ironically is still alive as well. They are starting a new trend.

 

No offense meant, but D. Brent Pogue should not even be lumped in the same discussion with Eric Newman. Newman is a scholar and absolute numismatic legend. Pogue is an investor who decided to pump some of his millions upon millions of dollars of wealth into coins as a "hedge fund" (his words, not mine). Sure, his collection is the "best of the best" of many rarities, but he has contributed next to nothing to the hobby besides hype -- and his collection will for the most part be going to other "collectors" (read investors) just like him. I believe Pogue is in his 50's and has likely timed his selling to a time when the market of very high end rarities seems to be pretty hot. He's in it for the money -- not for the hobby.

 

Pogue: Amazing coins, yes. But, I wouldn't even call Pogue a numismatist.

[Ultra Cameo Collection]

I agree that Pogue is not a numismatist. There are few collections that are comparable to either and that is why I compared the two.

[Scott A]

I had to sell off an important part of my collection a few years ago and it broke my heart. These were Colonial American coins and many rare or in high grade for their respective types. I will most likely never get any of them back. Life is tough sometimes.

[Walkerfan]

Newman got to watch his life's work realize a mighty return due to the fruits of his labor, which is a good thing. But at the same time----it must have been EXTREMELY DIFFICULT to watch a lifelong passion be dispersed. It would be like 'giving up the ghost'....very bitter/sweet IMHO.

[Roblou270]

I thank Mr. Newman for all he has given to the hobby. He has been a curator for some of the rarest and best. By offering these rarities out for auction, he gives other "kids," like myself, the opportunity to experience the joy of being a curator. Not all of us are just investors. We do enjoy the thrill and the joy of touching history.

[Roblou270]

I forgot to add to my previous post, please visit The Resolute Continental Currency Dollar Collection under Custom Sets. Several of Mr. Newmans rarities are there and I felt that they should be shared with a wider community. Enjoy!

[Raisethis2]

I think just about the opposite of most observers. I think Newman knew at his advanced age that the collecting "phase" of his life was completed. Knowing that we are but custodians of the coins we collect, indeed his greatest thrill might have come in seeing these great coins redistributed to future generations.

 

He has shown us all what having the means, a great eye and the determination to turn over every rock in pursuit of the best can achieve. The money at this point clearly wouldn't matter.

[Lucky One]

exactly how I see things Alan. I could and have even sold coins from the core set when things got tough, the photographs and memories were the reason I collected them so the eventuality of selling them is just part of the process- afterall, if someone else didn't sell them, we would never have had the opportunity to own them in the first place. To truly enjoy the hobby is to go full cycle. Until that day, Im enjoying my set of half eagles to the max