1959 - over 60 years ago...wow! Here are some coins for sale, but I really don't think they're available by now.
@DonnaML I remember you talking about buying coins from Gimbels. EDIT: Per https://www.usinflationcalculator.com/, That $17.50 Alexander The Great Tet for $17.50 is equal to $159.19 in 2020 dollars. Just thought I'd add that.
Ah, yes, those were the days! I wasn’t buying many Ancient coins by mail then - I bought them mostly at the coin department of Joske’s of Texas in San Antonio. I could take a ten dollar bill (no credit cards in those days) buy a couple of Julio-Claudian asses and have enough money left to buy a cup of coffee (10 cents) and a bus ride.
Just based on the coin photos, as grainy as they are, the grading seems quite conservative by today's standards. I assume that the Greek coins listed on the back cover are the actual coins offered, but probably not for the Roman; those prices seem to be for a type coin from their stock. I'd love to find out, but they don't have an 800 number or email address! Shoot!
I know you cannot base an assumption on one, single example. But this is interesting: That Tyrian shekel would have considerably outpaced inflation.
And that's really a fraction of what a comparable coin would fetch on today's market. Here are a few listings of this coin picked randomly online: https://www.vcoins.com/en/stores/se...0_pieces_silver_ngc_ch_vf/821432/Default.aspx https://www.vcoins.com/en/stores/zu...vfavf_rare_year_1110_bce/1145297/Default.aspx https://www.coinarchives.com/a/lotv...&Lot=600&Val=c775d9ecff5610d3725dc8670e43e8fe
Look at the photos and look at the grades. This was before grades were inflated and dealers actually were willing to admit that some coins were not EF. However some of the illustrations strike me as too conservative even for back then making me wonder if the coins being offered were not the ones shown in the photo. Yes, you could get a 'F' Shekel of Tyre for $30 but the one in the image was to illustrate the type and was not the only one they had. I first (and last!) visited Gimbels coin department in NYC in 1968. I recall thinking that they were asking too much for what they had. I bought nothing there but there were better stores downtown. The coins I bought there were sold in 1974 and I don't recall details. I went to NYC several times while stationed at Ft. Monmouth NJ. The bus was $6 round trip and I ate at places recommended in a book which is still available: https://www.amazon.com/New-York-5-10-day/dp/B0007DZKX2
Wow! That’s some really cool stuff right there! Love the design of the catalogues. It’s just so crazy to think about a time where you’d buy coins without the ability to zoom in on a screen to identify every little microscopic detail of the surface for examination!
We do look at 1959 prices through the lens of 2020, and it is easy to equate a $30 coin in today's dollars. Back in 1959 that was a lot of money to spend on a coin. But inflation over the decades, plus increased collector interest have contributed to the very high prices for some coins that we see today. Still, everything is relative.
It's ok...I'm almost finished with my time machine. When I go back and buy everything, I will be sure to give you a few when I get back to 2020
Been to the Valley Stream location when I was quite young, late 50's (before discovering coins as collectables)...had to be dragged there, if you know what I mean.......did not know until just now that they sold coins (wouldn't have made a difference at the time). Great info., thanks @robinjojo !
Given that they list five different store locations, I think that all the illustrations were of representative types rather than of the actual coins you could expect to be able to buy.
