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The
Louis Eliasberg, Sr. Sale- A Personal Perspective(con't)
Ten hard, and often frustrating,
days were spent on the phones, trying to convince my customers of the
potential value
in this sale. I must have come across a little like Jerry Lewis at a
Telethon. But, as the zero hour approached my customers began to respond.
Several of them decided that they wanted to participate. When I called
Larry, he confirmed equal success. It was looking like we would go into
the sale well capitalized. And, with a little luck and some aggressive
bidding, we hoped some Eliasberg pedigreed coins would be our just reward.
The glitz and glamour of Mid-town Manhattan served
as an appropriate setting for the sale. I have to admit there was a momentary
sense of disappointment as I pulled up to the front of the Saint Moritz
and quickly realized that this was a far cry from The Plaza 3 doors down.
However, once I made my way up to our room, opened the curtains and took
in the view of the Park Avenue skyline backdropped against Central Park,
all initial regrets were forgotten. Just as I was slipping into a sense
of New York euphoria (that is a momentary lapse where you think you actually
ARE a New Yorker), the phone rang. It was one of Larry's customers, and
I could tell from Larry's end of the conversation that the gentleman
wanted to go after some coins. After some brief dialog, I heard Larry
review some bids with him and wish him good night. As I switched back
into my Maryland coin dealer mode, I observed Larry was a little upset. "I
don't think these people understand," he said. ''They're sincere
and they honestly believe they're being aggressive, but they are going
to get shut out." "What were his bids?" I inquired, referring
back to Larry's caller. "Most of them were 40-50% over grey sheet
levels," replied Larry. I nodded at Larry affirming that I agreed
with him. "No, you're right, they just don't understand," I
added.
Louis
Eliasberg, Sr. was an affluent Baltimore businessman who undertook the
seemingly impossible
task of assembling a complete
collection of United States coins. His adventure involved him with many
legendary names in the hobby. Among them were the likes of Chapman, Mehl,
Kagin, Stack and perhaps most importantly John Clapp. With the acquisition
of the John H. Clapp collection in 1942, Louis's dream neared attainability.
In 1950, approximately 8 years after purchasing the Clapp collection,
Louis acquired the unique 1873-CC No Arrows Liberty Seated Dime, the
final coin needed to complete his collection of United States coins.
The King of Coins, as Louis was affectionately known, had transformed
the unthinkable into a reality.
Mixed emotions best described my feelings as I entered
the auction room on Sunday, April 6th. Excitement and anxiety were playing
an emotional tug-o-war in my mind. Larry and I had spent a combined total
of 5 days in New Hampshire and 7 days in New York viewing this collection.
The coins had become a part of me. I felt like I had been a temporary
custodian of them, and now that was all going to end. To see them separated
and dispersed was almost like saying goodbye to an old friend. However,
the prospect of owning even a little piece of this memorable collection
soon overcame that temporary sense of loss. "Focus, focus," I
kept telling myself. "And, don't lose sight of why you're here." Larry
and I had worked feverishly on our last minute preparations. We checked
and double-checked our bids, as well as making our last minute phone
calls. This was, as Larry put it, a high stakes poker game. Knowledge
and hard work, at this point, needed to be our best allies.
I wished I had more sleep. My eating habits in the
last 4 days had become erratic and suffered. My life had centered around
the coins and compromise simply wasn't an option. There would be no second
chances. I shook my head vigorously hoping to clear the cobwebs. "Focus," I
reminded myself once again. The zero hour had approached and I just hoped
I was physically ready for it.
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