January 13, 2015
Spink Collector's Series Sale (aka sale 321)
Regular bidders probably have received the January 27-28 "Collector's Series" sale by now. For those of you who collect auction catalogs, this is sale 321, continuing the numbering system of R.M. Smythe catalogs.
Unlike most sales in the Collector's Series, this sale is heavy with certificates. No certificates appear on the cover, but 44% of the lots in the sale (~782 lots) involve certificates. Of that number, 635 lots are from the U.S. Certificates from Cuba, particularly banking, are also well represented.
I count 305 lots involving railroad certificates. Quite a few are on the higher end of the rarity/desirability scale. I would include Alaska Central Railway (lot 1051), California Eastern Railway (lot 1075), California Southern Railroad (lot 1076), Covington Street Railway (lots 1110 and 1111) and Enos Electric Railway Supply Co (lots 1126 and 1127) among a whole host of other lots to consider very carefully.
Autographed certificates are well-represented, both in the catalog as a whole and among railroad certificates in general. In fact, one-third of all railroad certificates (108 lots) in this catalog involve some sort of "celebrity" signature. Some autographs are highly important including items with autographs of John D. Rockefeller, Franklin D. Roosevelt, George Eastman, Jay Cooke and James Longstreet.
If there is a downside to this sale, it is the lack of photographs. Only 48 railroad-related lots are illustrated.
Please don't get me wrong. I am wholeheartedly recommending this sale! I am merely pointing out that the lack of images is a really large problem for everyone publishing catalogs – MYSELF INCLUDED. It is a crucial consideration for auction catalogs because illustrations consume so much space and printing is so very expensive.
At the same time, let's accept the evidence. I can't prove it conclusively, but my data strongly suggests that illustrated lots tend to receive better bids. As a benefit to both my readers and to Spink, I suggest you pull up my Coxrail database on your computer while you are browsing the catalog. I cannot show you images of every certificate listed in the Spink catalog, but I have over 13,650 images online.
Spink's sale will take place in New York, January 27-28, 2015. The most important autographed items will go under the gavel on the 27th. This includes three lots of autograph certificates signed by Fillmore, Rockefeller and FDR (lot 812 at left) and great selection of presidential autographs. The remaining 773 lots of certificates will be auctioned on the 28th. You may, of course, bid in person, by mail or online at Spink.com. Everyone is looking for "new material", so please consider contacting Spink today for this catalog. The entire catalog is available in eCatalogue form and PDF form on the Spink site.
December 08, 2014
Another Fabulous Sale from Fred Holabird
The latest sale from Fred Holabird will take place in Reno, Nevada over three days, starting December 9 at 8am. If you collect anything from the U.S., but particularly from the American West, then I guarantee there is something in the sale for you.In fact there is so much in the sale that the only good advice I have is to get a catalog for yourself. Contact Holabird's Western Americana Collections at 775-851-1859 or visit Fred's site at FHWAC.com.
This particular sale is titled, The Art, Brewery, & Collectibles Auction, but I have to tell you, even that title does not do the offering justice! The sale includes 2169 lots. The catalog is entirely in color and illustrates essentially every lot – INCLUDING multi-item lots. (I applaud Fred for showing entire lots; I really don't know why other sellers refuse!)
If you will go to FHWAC.com, you will be able to see large views of all lots. By "large", I mean images many times larger than typical auctions. Fred and I are in full agreement on this. Online illustrations cost nearly nothing. It only makes sense to use the whole screen. In other words, show bidders as much as humanly possible. Thanks, Fred!
(Here is a picture of a multi-item railroad lot from my computer monitor, 11 inches tall.)So what's in the sale?
- Saloon-related artifacts, bottles, artwork, broadsides, bungs, mugs, glassware
- Nevada artwork (prints and oils)
- Historic maps
- Exposition ephemera and souvenirs including badges, postcards, spoons, tickets
- Presidential photos and autographs
- Firearms
- License plates
- Auto stocks
- Air industry stocks
- Books and directories
- Civil War covers and photos
- Alaska photos, brochures, postcards, stock certificates
- Bodie, Tahoe, Donner (Nevada) photographs and ephemera
- Charles M. Russell sketches and photos
- California postcards and ephemera
- Nevada postcards and ephemera
- Green River fish fossil specimens
- Gold balances
- Arizona stock certificates, postcards
- Colorado stock certificates, photos, claim maps, atlases
- Michigan mining stock certificates
- Montana postcards, stock certificates
- Nevada stock certificates, photographs, mine reports, checks
- Oregon stock certificates
- Utah stock certificates
- Oil stock certificates (many locations)
- Coins
- Obsolete currency
- Confederate currency
- Fractional currency
- Colonial currency
- Scrip
- Saloon tokens
- Wells Fargo lanterns, locks, ephemera, bag sealers
- Strong boxes
- Railroad passes (large selection)
- Railroad certificates, artwork, locks, ephemera
- plus gobs of material too diverse for me to list
Again, if you collect anything from the American West, grab a catalog and visit Holabird's Western Americana Collections website as soon as possible.
October 13, 2014
Archives International Auctions, sale 21
Dr. Robert Schwartz is now presenting his 21st sale since 2007. Like all recent Archives' catalogs, this catalog is in full color and the majority of lots are illustrated.
Gross statistics: This time, there are 1,450 lots offered, of which at least 420 are related to stocks and bonds. Of that number, 178 are related to railroads and all but one are North American companies. About 24 lots are multi-item lots and always represent excellent buying opportunities.
As typical, Schwartz is offering numerous specimens, all of which are rare to highly rare. Collectors beware! Specimens like these often represent the ONLY opportunities to acquire ANYTHING from many of these lines. If anyone is a specialist in a certain family of companies, I warn you to strongly consider looking at Schwartz's offerings.
When we are talking about rarities such as these, it's hard to pick stand-outs. A certificate that is special to one person might have no meaning to someone else. The best thing I can recommend is for everyone to check the online catalog as soon as possible.
A special message to my European readers. Unlike European sales, Archives International does NOT list minimum starting bids. Instead, minimum bids for scripophily are 60% of minimum estimates, and are, therefore, substantially lower than European norms. Buyers' commissions are 18% of the hammer price and there is no Value Added Taxe (VAT).. I strongly recommend European collectors check out this sale.
For those readers who live within easy distance of New York City, be aware that all scripophily-related lots will be sold at the Museum of American Finance at 48 Wall Street starting at 10:30, Saturday October 25. All remaining lots (lots 450 to 1450) will be sold Tuesday, November 4 at the Archives International Auctions office in Fort Lee, New Jersey.
Contact Archives International Auctions by phone at 201-944-4800 or through its website for a copy of the latest catalog.
October 02, 2014
Mario Boone auction 53, November 1
Mario Boone will hold his 53rd auction Saturday November
1, 2014 at the Atomium in Brussels. This sale includes 1,289 lots of which 75%
are European issues. The highlight of the sale is a lot of 560+ certificates
from collector Jacques Simar, all involving the career and businesses of Belgian entrepreneur, Baron
Edouard Empain.
In this sale, only 113 lots involve North American companies and only 18 are railroad-related. Minimum bids for most certificates are strong
by U.S. standards, but well in line with European standards.
If anything seems underpriced, it is an 1871 $1000 bond from
the Mobile & Montgomery Railroad. The scarcest item seems to be an 1834
stock certificate from the Philadelphia Germantown & Norristown Rail Road Company.
An item with unrecognized rarity is an 1851 Carroll County, Ohio aid bond for
the Carroll County Rail Road. The certificate offered is one of only four known
to me and last sold in 2005 for about the same amount as the starting bid.
As usual. essentially all lots are illustrated and the
entire catalog is in color. If interested in this sale, be sure to contact
Mario at Mario.boone@skynet.be as
soon as possible. You may also see all lots in color at http://www.booneshares.com/.
September 23, 2014
HWPH Auction coming up in mid-October
The latest catalogs to arrive come from HWPH (Historisches
Wertpapierhaus AG). Once again, Matthias Schmitt is offering some nice
certificates including a 40-piece collection of American Express certificates, with
about half signed by James Fargo.
The focus of this sale is primarily German material and to a
lesser extent, Russian certificates. However, as usual, Herr Schmidt offers a
substantial number of North American certificates. Of the 1,996 lots in the
sale, 248 are North American (including Central America and Cuba.) Of that
number, 63 lots are single-item railroad certificates plus 6 more multi-item
lots.
As usual, the sale is divided into three catalogs. Auktion
35 and ’50 Highlights’ is the live auction to be held on Saturday, October 18,
2014 in Wiesbaden. The live sale totals 898 lots. Auktion 36 is the online
auction and includes 1,098 lots. You may see the entire sale online at http://www.hwph.de/. Unlike most auctions, HWPH online
images are large enough to see details.
To give you an idea of the selection, I have included names
of all North American railroads involved in the sales.
Please contact HWPH online or at +49-81-06-24-61-88 to get
copies of catalogs from the sale.
| Akron Canton & Youngstown Railway Co | New Jersey Junction Railroad Co. |
| Atlantic Mississippi & Ohio Railroad Co | New York Rutland & Montreal Co |
| Bedford & Bridgeport Rail Road Co | New York Susquehanna & Western Railroad Co |
| Bellefonte & Snow Shoe Rail Road Co | New York Westchester & Connecticut Traction Co |
| Bellingham & Northern Railway Co | New York & Ottawa Railroad Co |
| Broad Top Improvement Co | Newfoundland Railway Co |
| Brooklyn Rapid Transit Co | Panama Rail Road Co |
| Chartiers Railway Co | Pecksport Connecting Railway Co |
| Chartiers Railway Co | Penn Van & New York Railway Co |
| Chesapeake Ohio & Southwestern Railroad Co | Peoria & Oquawka Rail Road Co |
| Chicago Brazil & Ohio River RR & Coal Co | Philadelphia & Atlantic City Railroad Co |
| Cleveland Columbus Cincinnati & Indianapolis Railway Co | Pittsburgh Cincinnati & St Louis Railway Co |
| Columbus Piqua & Indiana Railroad Co | Port Reading Railroad Co |
| CompaƱia del Ferro-Carril Cienfuegos Villa Clara | Potosi & Rio Verde Railway Co |
| CompaƱia de Tranvias y Fomento de Ciego de Avila | Pullman Railroad Co |
| Farmingdale & Squan Village Rail Road Co | Reading Co |
| Fitchburg & Worcester Rail Road Co | Schoolcraft & Three Rivers Railroad Co |
| Galveston Houston & Henderson RR Co | South Mountain Rail Road Co |
| Georgia & Florida Railroad | Southern Pennsylvania Iron & Railroad Co |
| Government of Honduras | Syracuse Binghampton & New York Railroad Co |
| Grand Junction Rail Road & Depot Co | Terre Haute & South-Eastern Railroad Co |
| Illinois Iowa & Minnesota Railway Co | Texarkana Shreveport & Natchez Railway Co |
| International Railroad Co | Tivoli Hollow Railroad Co |
| Lackawanna Rail Road Co | Toledo Tiffin & Eastern |
| Louisville New Orleans & Texas Railway Co | Town of Cherry Creek (NY) |
| Memphis & Little Rock Railway Co | Town of Schroeppel |
| Milwaukee Terminal Railway Co | Uniontown & West Virginia Railroad Co |
| Mobile & Alabama Grand Trunk Railroad Co | Virginia & Southeastern Railway Co |
| Mobile & Ohio Car Trust | Wabash St Louis & Pacific Railway |
| Montana Railroad Co | Warren & Ouachita Railway |
| Naugatuck Railroad Co | Winfield Texas & Gulf Railway Co |
| New Haven & West Haven Horse RR Co |
June 17, 2014
Antique Cigar Label Art by David Beach
Here is a book I want all my readers to buy. Not because it has anything to do with collecting stocks and bonds, but rather because it is an incredibly well-done and beautiful book that every paper specialist needs to have on the shelf. You don't need to collect cigar box label art to appreciate the beauty and rarity. But by having the book (and being a collector), I suspect you'll be drawn to more than one piece of this wonderful artwork.
If you've ever looked at boxes of cigars in humidified show cases, you've probably been unknowingly attracted to one box or another. That was no accident. No matter whether you're a cigar smoker or not, even if you hate cigars, you've probably noticed the artwork on the inside lids of cigar boxes.
As collectors, of course, we're not talking about modern artwork. We're talking artwork created from lithograph stones in the 1870s through roughly the 1910s. Like the stocks and bonds we collect, cigar box labels run the gamut from "common" (meaning 500 or more) to unique or nearly so. Unlike our collectibles, cigar box labels appeal to a wider swath of people. With a greater audience, rarities tend to be several times more expensive than we are used to.
If you've been around the stock and bond hobby for awhile, you're already familiar with David Beach. As a major dealer in rare stocks and bonds, David has helped contribute to my project over the years, especially with some of the greater rarities that I would not otherwise know about. However, you may not know that David is also a very "big" collector and dealer of cigar box labels. All types of labels. All rarities. All price ranges.
I am especially recommending this book because I've certainly seen my share of guidebooks over the years, covering a huge range of subjects. From cactuses to currency. From guitars to collectible maps. I don't know of ANY other specialty catalog with such high-quality, full-color printing. The book is hardcover, 8.75" x 11.25" (22.2 x 28.6 cm), 160 pages with color on every page. (The book was designed by Wayne Baxley.) By my count, there are from one to twenty-five illustrations per page, totalling about 1,245 photos.
In general, David covers the types of labels that were used (or meant to be used) on the inner lids and the outer ends of cigar boxes. Although there are fewer of them in existence, he also covers labels used on tobacco crates and on tobacco caddies. He does not cover small cigar bands.
While cigar boxes from that period DO survive, many are in distressed condition as are many of the labels they carried. The labels that survive in good condition tend to be labels that were unused. Some were no doubt remainders, but the bulk of the super-rarities tend to be examples rescued from sample books. Like our collectible stocks and bonds, some also originated as printers' proofs.
David indicates the apparent rarity of every label. He uses an 8-point scale ranging from R1 as the rarest to R8 as the most common. He also offers price estimates, which as I have warned time and time and time again, is one of the most thankless endeavors any cataloger can possibly attempt. As David told me, the prices in his book were meant to reflect price predictions based on prices that existed at the time. Since then, however, prices have collapsed in most collecting fields including stocks and bonds and cigar box labels. I just checked several prices in David's 2009 book against prices he currently offers on his web site. In general, David's current prices are about 50% to 70% of his published catalog prices. That is pretty much the difference between prices in the second edition of my catalog and my current estimates.Collectors of cigar box labels tend to specialize by themes and there are many to choose from. Some of the more popular themes include sports, patriotic, romance, fantasy, travel, music, police, firemen, military, ethnic, naughty women, risque, men's club, humor and famous people. Practically any subject you might think of. I'm, of course, drawn to train themes but there are definitely many other industries to focus on. .
I've shown the cover of Beach's book at the top, but if you want to see more, David has images of all pages in the book on his web site. Start here: http://cigarboxlabels.com/gallery2/main.php?g2_itemId=40703. He also has posted an index of all labels in his catalog on his web site.
You may acquire Antique Cigar Label Art from eBay (search for "Antique Cigar Label Art" in Books > Antiquarian Collectible), Amazon, AbeBooks or Alibris. (ISBN 978-0-615-33036-5). The book is usually priced in the 25 to $40 range. Personally, I recommend buying the book directly from David. All authors like us appreciate hearing from our readers and, Lord knows, we're never going to get rich writing catalogs and specialty books!
Finally, be sure to check out David Beach's website at cigarboxlabels.com. Click on "Cigar Box Labels" at the top right to see galleries of some of his fantastic items.
June 03, 2014
Spink Smythe Auction 320, June 17
You may view the catalog online, of course, or purchase a copy directly from Spink.
The downside is that stock and bond lots in The Collector's Series are limited in number – only 174 lots this time. The upside is that because the lots are hidden inside a predominately coin and currency-related auction, competition for lots might be greatly diminished.
41 of the 174 scripophily lots are related to North American railroad. 15 of the 41 lots are multi-item lots. I always like multi-item lots because of the opportunity to acquire certificates for excellent prices.
As expected, there are several serious rarities, but because so few North American railroads are illustrated in the catalog (only four!), I suspect they will go largely unnoticed by all except the obsessed. Standouts include Waverly & New York Bay RR (lot 1608) with only four examples known to me. The Liberty & Vienna RR certificate (lot 1602) is almost equally scarce, but a more attractive piece. An issued version of a stock certificate from the East Line & Red River Railroad Co. (lot 1595) is probably three to four times more common than the other two, but tends to sell for about the same or more because of its coloration and its origin from Texas.
Lot 1597 offers two certificates (#2 and #3) from the Engleside Railroad. Okay, the certificates are not terribly attractive (vignettes of Washington and Franklin), but these two items represent one-eighth of all the certificates likely issued for this company. Scarcer still is a stock certificate from the Grassy Island Coal & Rail Road Company (lot 15980. This is one of only three certificates known to me. I like this item because of the vignette of a mine shaft at left that takes up 60% of the height of the certificate.
Lot 1604 is a certificate from the New Jersey Junction Railroad Company, signed by John Pierpont Morgan as trustee. These certificates are relatively common, but because of Morgan's signature, these certificates have been selling for roughly $400 in the last couple years. Having said that, though, let me remark the two highest prices I have ever recorded have occurred in the last two years. ($1,200 in June, 2012 and $1,300 in January, 2014.) Amazingly, both bonds were sold on eBay!!! I mention those prices not to entice you to bid more, but to indicate that Spink's estimate of $300 to $500 is spot-on.
Let me digress for a moment and tell you about a stunning mining-related certificate (lot 1582) from The Gold Mining Company. I can't remember encountering a less informative corporate name. The company was incorporated in West Virginia and issued a certificate for its gold mines in northwestern Arizona in 1895. What makes the certificate special is its size (14.25" x 7.25") and a detailed map in brown underprint covering the entire width. The mining area sits in Mohave County, about halfway between Kingman and the Grand Canyon. The map covers an area from the Music Mountains west to Mineral Park, replete with wagon roads and rail lines. This is a stunning certificate and appears on the back cover of the catalog.
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