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<p>[QUOTE="johnmilton, post: 4868001, member: 101855"]WOW! That takes me back.</p><p><br /></p><p>First Coinvestors was run by a guy named Stanley Applebaum. What he sold was anything but "investment grade material." He was noted for selling coins with rhodium plating and other problems created by less than competent coin doctors. Fortunately, even then, when I was high school, I knew better than get involved with him.</p><p><br /></p><p>In the 1970s I taught a coin collecting course at a local junior college. One night, one of my students brought in an “investment portfolio” from First Coinvestors. All of the coins had something wrong with them and had been played with. The sad part was, if the coins had only been left alone, the guy could have sold them for a small profit. But since they were missed with and “problem coins,” he was still stuck.</p><p><br /></p><p>In the mid 1970s, Mr. Applebaum turned over a new leaf. He apologized from his prior behavior. (Excuse me, but it was like an old prostitute trying to get back her virginity.) He hired Walter Breen as a consultant and published Breen’s book, <u>Walter Breen’s Encyclopedia of United States and Colonial Proof Coins 1722 – 1977</u>. The book was quite good for its time and became a collectors’ item that was worth a premium price for a number of years. Personally, I still think that the book is quite useful.</p><p><br /></p><p>A one point, Applebaum also hired Don Taxy who was the other leading numismatic author of the period.</p><p><br /></p><p>First Coinvestors and Mr. Applebaum are now a part of numismatic history.[/QUOTE]</p><p><br /></p>
[QUOTE="johnmilton, post: 4868001, member: 101855"]WOW! That takes me back. First Coinvestors was run by a guy named Stanley Applebaum. What he sold was anything but "investment grade material." He was noted for selling coins with rhodium plating and other problems created by less than competent coin doctors. Fortunately, even then, when I was high school, I knew better than get involved with him. In the 1970s I taught a coin collecting course at a local junior college. One night, one of my students brought in an “investment portfolio” from First Coinvestors. All of the coins had something wrong with them and had been played with. The sad part was, if the coins had only been left alone, the guy could have sold them for a small profit. But since they were missed with and “problem coins,” he was still stuck. In the mid 1970s, Mr. Applebaum turned over a new leaf. He apologized from his prior behavior. (Excuse me, but it was like an old prostitute trying to get back her virginity.) He hired Walter Breen as a consultant and published Breen’s book, [U]Walter Breen’s Encyclopedia of United States and Colonial Proof Coins 1722 – 1977[/U]. The book was quite good for its time and became a collectors’ item that was worth a premium price for a number of years. Personally, I still think that the book is quite useful. A one point, Applebaum also hired Don Taxy who was the other leading numismatic author of the period. First Coinvestors and Mr. Applebaum are now a part of numismatic history.[/QUOTE]
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