Watch List notes:

Newcomer, Waldo. NEWCOMER COLLECTION: U.S., COLONIAL & PIONEER COINS. Spine title cited. No place or date of issue [Baltimore: c. 1930]. Two hundred twenty-five 8.5 by 11 inch sheets ruled in red, featuring 3680 detailed descriptions in original typescript, arranged in columns headed No. / Date / Description / Condition / Cost, with occasional annotations, mostly in pencil. Oblong 4to, modern black cloth; spine lettered in gilt. Typewritten index on cardstock, outlining the 18 sections into which the inventory is divided, followed by additional cardstock leaf; 18 cardstock sheets with typewritten tabs along the top edge organizing the text. Generally fine. An exceptionally important document, being the closest approximation to a proper catalogue written for this extraordinary collection. During the first three decades of the 20th century, Waldo C. Newcomer (1867–1934) was one of the most active and important numismatists in the United States. A prominent Baltimore banker, Newcomer's financial empire apparently crumbled during the Depression and in January 1933 he resigned as chairman of the executive committee of the Baltimore Trust Company. According to his obituary in the September 1934 issue of The Numismatist, he "died suddenly in Honolulu on July 29 of heart disease" (though others suggested that he committed suicide). In headier days, he assembled one of the largest collections of coins ever formed in the United States. The same issue of The Numismatist relates that "With possibly one or two exceptions his series of U.S. coins was complete. His collection of territorial or private gold and pattern coins was also remarkably complete." Duplicates from the collection were consigned to Texas coin dealer B. Max Mehl in both 1914 and 1919, but the core of the collection remained intact until the early 1930s. At that time, a few years before his death, Newcomer sold most of his collection to Mehl. The acquisition of "approximately four thousand different coins" was trumpeted in a four-page advertisement appearing in the March 1932 issue of The Numismatist, where Mehl promised that a "Catalog is now in preparation, and when completed will serve as a real reference work on the entire American coinage." Sadly, Mehl never followed through with this promise-as a result of which, there is today no readily available record of Newcomer's vast holdings. Fortunately, Mehl did have a few sets of photographs made of some of the United States gold and silver issues, along with pioneer and commemorative gold coins. Likewise, at least two copies of the typescript at hand appear to have been made at the time, one of which was included in our 2004 sale of the John J. Ford, Jr. Library (as lot 697), where it sold for $19,550.

The present inventory was written by Newcomer himself, as his use of the first person throughout makes clear. Thus, the inventory not only provides a listing of numismatic items, but includes occasional commentary that would otherwise have been lost. The inventory focuses solely on Newcomer's U.S. collection-his extensive collection of world coins was featured in half a dozen Wayte Raymond sales conducted under the J.C. Morgenthau banner between 1932 and 1935 and in a 1935 sale held by the Amsterdam firm of J. Schulman. The inventory begins with an index featuring the following main headings: 1) U.S. Half Eagles; 2) U.S. Eagles; 3) U.S. Quarter Eagles; 4) U.S. Double Eagles; 5) U.S. Three Dollar Gold Pieces; 6) U.S. Gold Dollars; 7) U.S. Silver Dollars & Trade Dollars; 8) U.S. Half & Commemorative Half Dollars; 9) U.S. Silver & Nickel Coins...; 10) U.S. Pioneer & Territorial Gold Coins; 11) Continental Dollars; 12) Washington Half Dollars and Cents; 13) Other Cents, Half Pennies...; 14) State Coins...; 15) Woods Coinage, etc....; 16) U.S. Large Cents, Half Cents, Small Cents & Two Cent Pieces; 17) U.S. Commemorative Gold Coins; 18) U.S. Hard Times Tokens, Freaks, etc.

Newcomer's 434 half eagles are described in considerable detail, with many of the earlier descriptions being over fifty words long. A number of these entries bear annotations in the hand of Walter Breen, who presumably consulted this copy while conducting his die study on the series in the 1960s. Interesting commentary is often incorporated into the descriptions by Newcomer. Of his "1826 Close date," to which he assigns a cost of $1500, Newcomer notes: "Adams priced this at $2,000.00 as being the only known specimen of this die. I secured a reduction in the lot of coins and arbitrary (sic) took $500.00 off this." Of his 1854-S (cost $400) he writes: "Believed unique. Elder writes later that dealers consider it worth $2,000.00." A listing for his 1862-S $5 with IN GOD WE TRUST on the reverse states, "This piece is either a great rarity or a fake. Pending a decision on this I have placed no value upon it and have not recorded it in my totals." Eagles comprise listings 435–671. After his 1860-O, Newcomer writes: "None coined in 1861–1878. Heaton says that 1861 exists but I cannot confirm. John B. Boss, Philadelphia, says he cannot find evidence of its existence." Quarter eagles number 672–867. A handwritten note, not in Breen's hand, appended to the listing of an 1827 quarter eagle that allegedly had a diagonal fraction bar instead of a horizontal one (for which Newcomer paid $600 as the only known specimen) reads, "This was a plugged coin, the "2 1/2" re-engraved-worth about $25." Newcomer paid $1200 for his "1841 Regular dies, Excessivley (sic) rare. Came from England. 2 other specimens known. One in mint collection at Philadelphia and on[e] in Mitchelson Collection, now belonging to city of Hartford." Items 868–1043 comprise Newcomer's double eagles, which are followed by his collection of $3 gold pieces (entries 1044–1087). Headlined "The Only Complete Collection of United States Three Dollar Gold Pieces," it is of course highlighted by his 1870-S, costing $2000 and termed "Practically unique. Said to have been only two struck and one placed in corner stone of U.S. mint at San Francisco." Gold dollars follow, items 1088–1166.

Silver dollars are next, numbers 1167–1357, including of course "The Lyman specimen" of the 1804 for which Newcomer paid $340. He reviews the three 1870-S pieces known to him, noting that "Hesslein offered me his in April 1928 for $1300.00," and that his "Extremely fine" specimen cost $800. Trade dollars, numbers 1356–1384, include both 1884 and 1885 proofs. Newcomer's extensive holdings of half dollars, from item 1385 to 1718, include two uncirculated 1796s and a 1797, with one of the 1796s being termed the "Finest known specimen." Quarter dollars comprise numbers 1719–1960. Newcomer lists his uncirculated 1916 at face value, though his "Finest known specimen" of "1823 over '22" cost $950, and his 1827 $400. Twenty cent pieces, numbers 1961–1967, include his uncirculated "1876 CC mint. Extremely rare. Only four specimens known" at $250. Dimes, items 1968–2229, feature Newcomer's "Only known specimen" of the "1873 CC below wreath. No arrows" at $170, and his uncirculated 1894-S, purchased for $550. Half dimes (2230–2335), "Trimes" (2336–2359), five-cent nickels (2360–2448) and three-cent nickels (2449–2474) follow.

Newcomer's magnificent collection of "United States Pioneer and Territorial Gold Coins" are described in considerable detail. The roster of rarities is hardly believable. A listing of all the pieces with costs in four figures (within parentheses) follows: 1851 Baldwin $20 ($1000); 1851 Baldwin $10, "A. #44" ($1275); 1856 Blake & Co. $20, copper ($1250); 1849 Cincinnati Mining and Trading Co. reeded and plain edge $10s ($5100 & $3500, respectively), and 1849 $20 in copper ($1250); Conway & Co. $5, ornamental 5 ($2750); 1850 Dubosq $10 ($2500); 1855 Kellogg $50, brilliant proof ($1250); $49.50 "Kellogg-Heuston Bar" ($1750); 1850 Kohler $50 ($5000); 1849 Massachusetts & California Co. $5 ($5000); 1849 Mormon $10 ($1150); 1849 Oregon Exchange Co. $10, "Probably finest known specimen" ($2000); 1849 Ormsby $5 ($3500); 1849 Pacific Co. $10 & $5 ($8000 & $6500, respectively); Parsons $5 & $2.50 ($4200 & $1325, respectively); Templeton Reid $10 & $5 ($2500 & $2000, respectively); 1851 Schultz $5 ($2000); 1851 "dies of Shultz (sic) & Co. $5. Counterstamped on Mexican 8 Reals (sic) of 1847" ($1600); and 1855 Wass, Molitor & Co. $20, large head ($2000). A long description of a $16.80 Wiegand bar transcribes much of a March 10, 1927 letter from S.H. Chapman to Newcomer, concerning a conversation Chapman had with J.R. Eckfeldt, who "knew all about C. Wiegand." Within the preceding section, Newcomer's Lesher Dollars comprise items 2664–2675.

The extensive collection of American colonial coins, featuring many detailed and interesting descriptions, numbering from 2751 to 3277, is arranged in twenty-six categories, and features a panoply of rarities, including Jackman's Brasher doubloon (which cost Newcomer $3900). His silver Continental Currency "dollar" is listed as having cost $2200. The large eagle Getz "half dollar" was $1500, while the "Washington Born Virginia" copper with stars and eagle reverse was $1600. A 1785 Inimica Tyrannis Americana with Confederatio reverse cost Newcomer $1250, while the "finest known" Higley piece (a 1737 Value of Three Pence) was $1600. It is interesting to note that here, as in many of his descriptions of his early U.S. gold coins, Newcomer went to pains to describe die varieties before most other collectors were even noticing them. Generally speaking, all of Newcomer's colonials are identified by die variety when possible. The listing is indispensable is establishing the provenances of a number of important pieces, many of which were acquired by Colonel E.H.R. Green, with a few highlights going to John Work Garrett.

Newcomer's large cents, items 3278–3393, includes, under 1794, a "Set of 70 varieties comprising all the Hays numbers except 38 and 53. Neither of these is known and probably do not exist." Also included were many "additional slight varieties." Newcomer considered it to be "probably the most complete collection of 1794 cents in existence and is said to have taken Dr. Wilharm twenty years to acquire." Half cents, 3394–3463, small cents, 3464–3582 (even including a "1922. Scarce. I can see no mint mark on this specimen but clipping from Numismatist 5/1928 says none coined at Philadelphia mint. Extremely fine"), and two cent pieces, 3583–3594, follow. Listings 3595–3627 of United States Commemorative Gold coins ensue (silver commemorative coins are appended to the half dollar section), including oddities. Hard Times tokens (entries 3628–3654) and "Freaks" (3655–3680) close the inventory. The Ford copy of the inventory included short sections on medals (3681–3768) and encased postage stamps (3769–3803) that are not present in this copy.

In addition to the Ford example of Newcomer's original inventory, B. Max Mehl produced an inventory of the private and territorial gold coins based on Newcomer's listing but with an added dash of Mehl hype. Further, B.G. Johnson produced similar inventories of the colonial and early American portions of the collection, four copies of which were found in the Eric P. Newman Library. Both the Mehl and Johnson inventories are based closely on Newcomer's original text, but, while informative, lack the charm of the first-person original. It is unusual to find such an extensive collection inventory compiled by the collector himself. Should it be true that economic difficulties brought about Newcomer's death, one cannot help but wonder if the presumably necessary dispersal of his coin collection, so lovingly described and recorded herein, played a part. If so, intermixed with awe, a certain pathos surrounds this remarkable numismatic record. Ex Louis E. Eliasberg, Sr. Library; ex Richard A. Eliasberg Library.