While looking through my coin stuff today, I came across an issue of Coinage magazine that I got as a kid back in August 1969. It's pretty fascinating reading. The cover (which is long gone) featured a portable coin melting pot-- the melting of silver coins had just been legalized on May 14 of that year. The articles feature a discussion of the new coin melting law, the proposed Eisenhower dollar-- the first US dollar coin to be issued since 1935-- and the new Mint facilities that had just opened in Philadelphia. There are also lots of coin ads. As you would expect, some of the prices are incredible by today's standards. For example, one advertiser was offering BU Australian-minted gold sovereigns for $21.00 and Mexican 50 pesos gold coins for $77.50 (the same price as a VF $20 gold piece). Those coins were a bit out of my league in those days, so I ended up buying a gold 2 pesos coin from him for $3.95. Another dealer was offering 10 different large cents for $32.50, and 7 different Bust half dollars, VF or better, for $77.95. A circulated roll of Liberty nickels was going for $9.95. Another advertiser was offering BU 1950-D nickels for $11.50. Many advertisers were offering 100 BU silver dollars for $300 or less. There were also ads for metal detectors and coin chemicals, including Nic-A-Lene products that I was discussing in another thread. It is quite fascinating to take a look back and get a glimpse of coin collecting 40 years ago.
I really enjoy reading those old issues. That is one reason that I started collecting the old Red Books.
The first Redbook I ever owned was the 1967 edition that I got for Christmas 1966. It might still be around somewhere, along with my '68. I have my '69 Redbook with me, although it's not in the best condition. They are still fascinating to look through.
I well know what you mean. I have all the Red Books from 47 to present. Every once in a while I look up a coin in one of them from a long time ago. Scarry how things change. Also, I found a catalog for Whitman products dated 1963. Example: Whitman Albums were sold for 2 pages $2, 3 pages $2.75 and a 4 page Album $3.50. The folders were all $0.35 each. AND the latest edition of the Red Book was $1.75
I started out with the '67, and got the next 4 or 5 editions from my Grandmother as Christmas presents. The annual Redbook was always something to look forward to. Sometimes, it's incredible to see how little some coins were worth back then. I have a dealer's buying list from 1970 which values common date silver dimes at only 10 1/2 cents each! Even at only 6 cents per ounce for postage, you'd have to sell 12 dimes-- approximately 1 ounce-- just to make the 6 cents to cover the postage!
I distinctly remember ads in Coinage magazines circa 1969 - 1970 offering "BU" Liberty Double Eagles for $60. I kick myself for not buying a few. I still don't own one (except for a contemporary counterfeit).
I attended my first coin club meeting/bourse in 1967, when I was invited by a customer on my paper route who wanted to help me work on my Cub Scout merit badge for coin collecting. That is where I saw my first US gold coin, a $20 Liberty that someone was offering for $60. At the time, I had been led to believe that it was illegal to hold gold coins, and I was shocked to see someone openly displaying one! And a little worried, too. But my paper route customer told me that there was no legal problem with holding US gold coins. But I still couldn't have bought it, because $60 was a king's ransom for me in those days. I ended up buying a near dateless 3-cent silver piece with a hole in it for 50 cents.
