Rising values of counterstamped coins

I just recently bid on three counterstamps in Steve Hayden's latest auction,and after checking the results, found some interesting information in regard to the increasing value of these pieces. I've noticed over the last 2 or 3 years that the price of these coins have gone up dramatically. Something you could get a few years ago for 50-100 dollars is now being bid up to two and three times that price. I'm being constantly outbid on lots I'm interested in. I consider my bids strong ones, and almost always over suggested bids, sometimes by a lot.

The "prices realized" sheet showed 22 lots sold at an average price of $153.00, well over the average suggested bid of $100.00. I thought there was a good mix of attributed pieces as well as mavericks, so the strong prices weren't the result of only well known or popular coins being offered. The highest winning bid was $358.60 for a J.F. Robinson (1840's Wilmington, DE silversmith) stamp, and the lowest $12.00 for a very common Pears' Soap example. I don't know if these rising prices are a result of increasing interest in counterstamps, or because a handfull of strong bidders have come aboard.

Anyway, I did win the coin I really wanted. It's the unlisted counterstamp of a J. Paul of Philadelphia. My research points to Jonathan Paul, an 1840's Philadelphia sawmaker, but I still need to do more work on it before I can be sure.

 

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I, too, have noticed increased interest and prices on counterstamped coins.

I think it's a little of both.

 

I agree Leadfoot, it's a little of each. I've also seen the asking price rise quite a bit on fixed price lists too. They're selling, so somebody's interested and buying.

 

I would think that counterstamped coins would be extremely easy to fake, just grab some "culls" out of your dealers junk bin and stamp or carve them to look like known pieces and put them on Ebay..

 

There are fantasy pieces out there for sure, but many are easy to spot. It's very important to examine a counterstamp closely when you suspect a fake. The style of the punch used, the wording, wear characteristics of the coin and the stamp itself, as well as the general "look" of the piece can tell an experienced collector a lot. Some serious red flags would be counterstamps from "exotic" locations like famous western towns such as Tombstone, Gold Rush pieces, Wells Fargo issues, or anything claiming to have a connection to the Confederate States during the Civil War. As always though, buyer beware, and buy from a reputable dealer if you can.

 

Don't supposed any of you counterstamp collectors care to share a few pictures with us?

 

I haven't posted any pictures on CT yet, but I'll give it a shot.

 

The "J. Paul" counterstamp is the one I just won on Steve Hayden's auction. The top left pic is the "reverse" of the coin.

"J.S.B & Son" is the mark Of John Starr Blackman, a Danbury, CT silversmith and his son Frederick. Frederick succeeded his father in the business in about 1840. This coin was probably stamped about 1835-1840

The "AA / J.A. Needham" piece is a maverick. Brunk lists "J.A. Needham" (without the "AA") as N-56, but has no information in regard to who Needham might be. The chance of finding his identity is slim.

Good grief, these pictures really came out big. Anybody know how I can downsize them a bit?

 

Nice pick up

Here is one of mine, what do you think?



and the reverse:

 

I guess that I have to take some more pictures of the others.

 

Search for "Bowers Counterstamped" to get started... This is an area of collecting that has a book, first and foremost. Literature creates markets.

Sooner or later, everyone has enough Buffalo Nickels. All of the specialties in numismatics have been experiencing rising prices. (Notice, of course, that silver is over $20 and gold over $1300: two years ago, the US Treasury doubled the money supply in the bail-outs. And it takes about 18 months for that to wash through the economy. So, there is that.) Inflation, aside, it only takes a handful of strong buyers to push up a speciality because by definition, the pool of buyers is small: it is, after all, a speciality.

 

As indicated, that is known -- in all areas, and not only numismatics. You can buy a blind horse from an Amish farmer. That said, have you ever tried to work a coin with metalsmith's tools? Getting it right is about like putting together a old pocketwatch or restoring a classic Mustang: it takes some investment in time and skill. Obviously, there are people who it, but it is not "extremely easy."

 

I like it a lot. The style of the letters is very unusual. Normally a counterstamp with just a last name like this is impossible to attribute, but the unusual style at least gives you an outside shot. I can't recall ever seeing another piece with this type of lettering. Brunk lists a "ward" counterstamp as W-156, but I don't know if it's the same one as yours.

 

Thanks for the note, I really have to pick up Bruck.

 

I find this as very good news. I see it as a sign of advancement in US numismatics that these historically interesting coins are getting more attention. I applaud anyone who collects these. Too much of US numismatics to me is, "I want the prettiest coin I can find", whihc is fine, but studying something like this and doing original research is much more hardcore numismatics.

I know I owe someone some pictures of some overstuck large cents, and I will be getting them done.

 

Brunk's last edition was published in 2003, and is very difficult to find. It was published by World Exonumia Press (Rich Hartzog), so you might want to contact him at www.exonumia.com to see if he has any copies left.
The title is Merchant and Privately Countermarked Coins. He did a draft update in June, 2006, but only issued copies to contributors and researchers. It wasn't made available for sale as far as I know.

He's in the process of updating his book, but he doesn't expect to have it to the publisher (probably Hartzog) for a year or two. I've contributed the results of well over 200 research projects to him over the past 6 or 7 years
and correspond with him regularly. Sample pages of the new edition including pics that I've seen look really good.

 

thanks for the note.

 

Thanks for the pictures and the info, very interesting stuff. I always like the possibility of who might have used a worn out coin i own, and these stamps lead in that direction.

 

I feel the same way about the history of a coin, particularly a counterstamp. With them you can often narrow ownership down to a particular peson or event. In my research, I'm always looking for more than just the maker's name or where he was from. I research his family and any other areas that tells me something about his life. It's important for me to know as much as I can, so I can get a "snapshot" in my mind of his place in history. It's often difficult when the coin was stamped 150 or 200 years ago, but to me it's worth the effort.

 

The Token: America's Other Money, Edited by Richard G. Doty, ANS, (c)1995 has an interesting chapter by David Bowers about counterstamped cents.

"Chapter 4 - Two Coins in One: Large Cents with Interesting Counterstamps"
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It was a great read with lots of photos.