Jim Bisognani: Getting into the Spirit of Collecting

Quite frequently, especially around this time of year, I will get emails or calls from collector friends with an obligatory holiday greeting and a question: “What is the best way to get my kids interested in coins?”

That is a very broad question, especially since I don’t know their kids or their ages. Additionally, most of the younger generation is bent on spending money, not saving or collecting it. 

For collectors such as myself, I was introduced to the fabulous world of coins at an early age and simply found the subject fascinating. My exposure to various obsolete coinage — Large Cents and Three Cent pieces, courtesy of my grandparents — were true eye-openers for this seven-year-old. Mom and Dad probably sensed my fascination, because they instructed Saint Nick to place a Red Book in my 1964 Christmas stocking. Talk about excitement! Over the next few months, I scoured that book from cover to cover. I studied pictures, mintages and historical data. I think by the summer of 1965, I had memorized every series, sub series, designers and more.

What ultimately cemented my fate as a numismatist? It was the hunt orchestrated by my mom for a “blurry” 1955 Lincoln Cent during the summer of 1966. As my brothers and I sweltered on that hot humid day, searching through thousands of Lincoln Cents on the staircase, the die was cast — so to speak.

For the new collector — especially the youngsters — it is truly a different time. Although coins are still in circulation, modern options offer the intrepid hunter of 2022 very little in the hopes of finding a truly valuable coin, let alone a rarity.

The odds of possibly pulling the aforementioned 1955 Double Die or another rarity — such as a 1914-D Lincoln Cent or the iconic 1909-S V.D.B. Lincoln Cent — from circulation are longer than winning the lottery on successive weeks.

So what to do?

Personally, I believe that if you are trying to nudge a special boy or girl down the numismatic path, then obsolete US coins are a very good initiation.

Perhaps a Braided Hair Large Cent from the 1840s will entice youngsters with a fondness of history. Holding that nearly half-dollar-sized piece of copper that could have secured supplies on a wagon train heading west could foster curiosity. A Three Cent piece (once used to facilitate the purchase of postage stamps of like value) is more than a diminutive curiosity. A copper-nickel Indian Head Cent minted in Philadelphia during the Civil War — now in your hand — is a tangible storyteller that circulated among Union and Confederate soldiers.

Of course, a large silver coin like the Morgan Dollar is a great collection starter. If you are on the East Coast, an ‘S’ mint (San Francisco) coin would be alluring. Conversely, if you are on the West Coast, perhaps a Philadelphia issue would pique your young numismatist’s curiosity, or an example from the historic and southernmost mint: New Orleans!

The best part about this group of coins I mentioned is that all can be bought for under $40 each. Once you purchase one, the key to the gift or collection starter is in your own personal narrative. History in your hands had always been an exciting revelation for me as a youth and still is to this day. I can’t think of anyone who doesn’t enjoy a good story.

Whether it’s presented as a holiday gift or merely a collection starter, once that door is open, there are untold opportunities for the young or young at heart.

The NGC website offers a bounty of pricing data, informative articles, and timely auction previews and results for both US and world coins. What an inspiration!

For others looking to kickstart a budding numismatist this time of year, I can think of a big winner: Santa Claus, who is not only timely but also such a universally popular figure.

There are numerous silver bars, silver rounds and artwork portraying varying images of the greatest elf of them all. Yet for me, the ultimate tribute and prime time collection starter is currency with Santa and his team.

“What?” you say. “No such thing…” It is time to believe!

For the well-established numismatists looking for an adventure or something to satisfy the persnickety, obsolete state-chartered banknotes featuring Santa Claus are wildly popular and always in demand. They’re also enormously collectable and quite rare. If I could either have a crisp 1899 $5 Chief Onepapa or a near-new State Charted currency featuring the jolly old resident of the North Pole, I would have to go for Mr. Claus!

One of my favorite examples is from New Hampshire’s Lancaster White Mountain Bank. This popular, themed $2 note from my home state features a Revolutionary War-era George Washington-esque Santa with a pipe, donning what appears to be a tri-corner hat and glancing over his shoulder while guiding his reindeer above the snowy housetops.

All original notes of this type are extremely rare. A fine example realized nearly $9,000 a decade ago.

This well-traveled and mended PMG 6 Good example was offered on eBay, where it realized $1,355 on December 6. Argh! Someone beat me to it!

Other ways to collect this immensely popular Lancaster, New Hampshire White Mountain banknote are through Proprietary Proofs. Those printed with the original plates by the ABNCo (the American Bank Note Company) offer a glorious “new note” featuring Santa.

This PMG 66 Gem Uncirculated EPQ Proprietary Proof realized $492 a few years ago.

For those on a lighter budget, there is this very inexpensive way to acquire a fine rendering for around $15! I know — it’s hard to believe, as we all have preached that “there is no Santa Claus in numismatics.”

Souvenir cards printed by the American Bank Note Company specifically for the Summer 1983 International Paper Money Convention in Memphis, Tennessee, are available from several sellers on eBay. Some sellers are offering the souvenir cards with the special show cancellation or without. The choice is yours.

There are several other notes issued by state banks — predominantly in New York and New England — that feature Mr. Claus. These notes are so highly regarded that the Santa Claus notes rank #23 in the 100 Greatest American Currency Notes by Sundman and Bowers.

Another St. Nick-themed piece of currency is from my neighboring Pine Tree State of Maine: an 1854 $50 note issued by the Bucksport Bank. The Santa Claus depicted on this note, recognized as “Santa Type III,” was created by noted engraver George D. Baldwin. This truly exceptional rendering is visually more in character with the Dickens/Clement Moore-style holiday aberration we often think of — a jolly, whimsical St. Nick, joyfully guiding his obedient team of reindeer over the town’s snow-covered rooftops.

This PMG 65 Gem Uncirculated EPQ Proof realized $2,700 a few years ago. Still immensely popular, this example was one of the numerous of its type that were part of the 1990 American Bank Note Company archive sale.

So, my friends, whether you are merely waxing nostalgic during the holidays or trying to extend your collecting legacy to your family, enjoy the season and our great hobby!

Until next time, be safe and happy collecting!

Jim Bisognani is an NGC Price Guide Analyst. He has written extensively on US coin market trends and values.

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