Bridgeton pioneer., 1903-03-05
THE RARE COINS
ARE VALUABLE.

A good many years ago, how many
1t is not necessary to mention, A. s.
Elwell, the druggist, as boy, worked
for the late Franklin Dare, in the
Commerce street drug store. The
establishment then was under the
management of George H. Whipple.
In those days, every week, drug
or medicine wagon went all through
this county and over in Cape May
county. When it came back, young
Elwell in boyish curiosity sorted over
tie large copper cents, many of which
were collected on the trip, and saved
out one of each. separate date. In
this way he developed coin collect
ing fad, and from that beginning has
developed into a well known rare coin
collector, and is one of the 1000 or
$500 we'll known collectors of the en-
tire United States.
Not day passes but which he is
called upon by one or more persons
with coins to have him tell if they
are rare and many does he pick ND at
prices that amaze the persons holding
them who know nothing of the value
of them from collectors standpoint.
Mr.. Elwell is an authority upon
United States currency. He knows
all of the very many issues, the pro-
duct of the various mints, and has at
the tip of his tongue full information
regarding the rarity of any of these
coins and the value of them in the
coin collectors market.
1t is interesting to hear Mr.. EIwell
give information regarding these mat
ters. He very modestly admits that
he knows something of this fad, and
has for many years given the study
careful and earnest attention.
Mr.. Elwell has in his Office all the
catalogues of the great coin sales for
years. These catalogues not only de-
scribe accurately and fully the coins
sold, but are marked with the price
they bring.
One of the largest firms making
sales of coins is s. Ell. e H. Chap
man. They made their last sale last
month, the 9Th and 9th, and vast
number of coins were sold. These
dealers charge 25 per cent of the
gross price as commission, and if
they handle any mail orders they get
10 per cent from the purchaser. Their
recent sale brought the firm commits
sions amounting to more than four
thousand dollars. This incident
shows something of the interest taken
in coin collections.
Mr.. Elwell says the fad is greatly
on the increase and some rare coins
bring fabulous prices.
While Mr.. Elwell has a personal
collection of rare coins which he
keeps safely in a local bank vault. he
is really a collector as speculator.
That is he buys rare coins that he can
sell them at a profit. To have large
personal collection requires consider
able capital when it is considered that
single gold dollar may be worth to
the coin collector $50 or $50.
Mr.. Elweil showed to "Pioueer"
writer the other day some crisp shin
pastors, the first issue being perforated
edges These paper notes were in
denominations of so, %, 10 and 5
cents, and to attract collector must
be entirely fresh, crisp and un-
wrinkled.
The mints recognize the coin col
lector, and there are several issues
that were for them alone These are
usually known as brilliant proofs,
being highly polished and were not
made for circulation. These speoi-
mems. If perfect, appeal strongly to
the collector. Mr.. Elwell has COM
plete set of the brilliant proof trade
dollars, perfect specimens from 1878
to 1879 inclusive.
To show bit of the value of
money, one can realize that a COL
lector must Garry much information
IN his head, by referring to the single
instance. An 1870 dollar from the
Carson City mint, which since 1898
has been closed, is rare Such a
dollar marked with &c. c." under
the wreath is worth from So to $5 ac-
cording to it's condition.
Gold dollars are the favorites for
coin collectors. Frank E. Riley, of
this CITY, is said to have the finest
collection of them in the State of
New Jersey, and while he closely
watches every rare coin sale, he finds
1t difficult to improve his collection.
An 1875 gold dollar is worth any
where from $5 to $40 according to its
condition. Gold dollars were issued
from 1S4s to 1899 inclusive. The
dollars from 40 to '61 are common,