Almost 100 Years of Coin Collecting Pays Off Big Time
Many people have trouble sticking with hobbies for one year, much less one hundred! Not Eric P. Newman, however. Almost one hundred years ago his grandfather gave him a peculiar penny, and he’s been hooked ever since. And boy, has this hobby paid off!
For the first time in his long and renowned career as a coin collector, Newman is selling pieces from his collection. Last year, Newman sold over $23 million worth of rare coins. And he’s just getting started!
“The scope and rarity of his collection are in a league of their own,” says Beth Deisher, a former editor of the magazine Coin World.
The story of how his collection came to be is a fascinating example of a coin collector’s lifetime journey. After receiving his beloved Indian penny from his grandpa, Newman became fascinated with coins. He would save his allowance for weeks to take a streetcar to a coin store in downtown St. Louis.
The owner of that coin store was Burdette G. Johnson. As Newman tells it, Johnson would sometimes refuse to sell a young Newman coins if he didn’t know their history! Johnson would then lend the young numismatist a book featuring the coin, allowing him to study up before coming back for his next purchase.
Newman’s first substantial investment, aside from the penny from grandpa, was in 1936. Edward H. R. Green, a colonel and famous collector, passed away, leaving an incredible coin collection. Newman convinced the executors of the estate to essentially let him cherry-pick the collection. Among his buys were some of the first-ever American silver coins from the 1790s. These coins were in close-to-perfect condition. Newman later went on to partner with his mentor Burdette Johnson to obtain some incredibly rare paper currency from Green’s collection.
After a lifetime of coin collecting, Newman has acquired a museum’s worth of rare and incredible coins. His knowledge of and dedication to collecting rare coins, along with the fact that he kept the coins in great condition, make his collection something special. All of the proceeds from the sale of his collection are going toward promoting his beloved field of numismatics. It’s no wonder that a successful and passionate collector like Newman would want to inspire other coin enthusiasts.
West Seattle Coins specializes in gold buying and dealing in rare coins. We are a family-owned business that was established in 1979 in the West Seattle Junction. We also buy and sell gold, silver, diamonds, currency and jewelry. Visit us first for a free evaluation.