The latest Spink Smythe “Collector’s Series” sale catalog is
now available online at http://www.spink.com/.
For a copy of the physical catalog, call 800-556-7826 or email usa@spink.com. The auction will take place in
Spink’s New York offices May 22 and 23.
As with other sales in the “Collector’s Series,” a wide
range of collectibles are being offered. All told, 1277 lots are being offered
with the bulk of the sale represented by 542 lots of coins, particularly stunning
gold coins. Paper money (380 lots) is also well represented. Especially important
is a wonderful collection of U.S Nationals (215 lots.) If there is one
particular highlight, it is the second part of an unbelievable collection of
George Armstrong Custer paper (59 lots.)
Stocks and bonds involve 149 lots, of which 51 are directly
railroad-related. Unlike recent Spink Smythe sales, this sale is light (9 lots)
on multi-item lots which I think should be an overall good move for collectors.
It is hard for stocks and bonds to earn their way in normal sales
heavily populated with more popular collectibles. In this case, though, Spink
is offering several very scarce and rare items that I have either not seen or
have not seen in a long while. As typical of Spink Smythe sales, about a third
of the railroad lots represent items signed by celebrities such as Belmont, Blair,
Fillmore, Gould, Harriman, Huntington, Mellon, John Rockefeller, William
Rockefeller, Ryan, Sage and the Vanderbilts.
Two items of note are rail-related autographs, although not
signed on certificates. One is an 1882 document representing 80 acres of land
sold by the Central Pacific in Yuba County, California. The document is signed
by Leland Stanford whose autograph is nearly unknown on stocks and bonds. In my
opinion, Spink’s estimate on this item is fair and probably on the low side.
(Why the president of the railroad, let alone two corporate trustees, would
have signed a sales document for $120 worth of ordinary farm land near
Smartville, California is unknown.)
There is a similar situation (restrained estimate) with an
1873 proxy form appointing a man named Niven to vote for directors of the
Spuyten Duyvil & Port Morris Railroad Co. The item is a partially printed,
generic form but is signed by Commodore Vanderbilt, William Henry Vanderbilt
and Cornelius Vanderbilt II. All three signatures are clear and bold and the
document fully uncancelled. Considering the prices fetched by “C Van Derbilt”
autographs in the past, the current estimate of only $1000 to $1500 seems very fair
indeed.
I won’t enter information about any of the certificates into
my database until after the sale. However, it looks to me like all of the
non-autographed lots are either scarce or rare, non-typical items or items not
previously recorded. The downside (for Spink) is that there are so few stocks
and bonds that they may not attract much attention in the shadow of more
popular coins and currency. The upside (for collectors) is that prices might
end up being rather reserved. Decide for yourself, but make sure you look over
the sale as soon as possible.
