Arthur B. Stewart, a prominent coin collector from Pennsylvania, left an indelible mark on the world of numismatics. His extensive collection, ranging from U.S. type coins to commemorative issues, reflects his passion for the hobby that began at a young age. A trained lawyer and successful businessman, Stewart’s lifelong dedication to coin collecting continues to be remembered through his legacy, especially after the public auction of his collection in the early 1970s.
Early Life and Introduction to Coin Collecting
Born in Pennsylvania, Arthur B. Stewart was introduced to the world of coin collecting at just 13 years old. His father purchased a small coin collection for him and enrolled him in the American Numismatic Association (ANA). Stewart became a charter member of the ANA, joining during its inaugural period (1891-97). His membership, number 183, made him part of the original 304 members of the association. Stewart’s lifelong passion for coin collecting began at this formative stage, laying the foundation for his impressive future as a numismatist.
Stewart’s Career Beyond Coin Collecting
While coin collecting was a significant part of Stewart’s life, his career also extended far beyond the hobby. A trained lawyer, Stewart practiced law before transitioning into business. He became the President of Davis Coke and Coal Company and served as a director for both a trust company and a savings bank. His professional success allowed him to focus on building a diverse and impressive coin collection.
Focus of Stewart’s Coin Collection
Stewart’s coin collection was diverse, though it centered primarily around United States type coins. He also had smaller sections dedicated to pioneer gold, U.S. paper money, and foreign coins. During the 1920s and ’30s, he became particularly enthusiastic about commemorative half dollars, assembling a relatively comprehensive set. Although Stewart never owned the rare 1928 Hawaii Sesquicentennial Half Dollar (due to its limited distribution), his collection was considered substantial for its time.
Highlights of the Collection
Several coins in Stewart’s collection stand out due to their rarity and historical significance. Among the most notable pieces were:
- 1875 Liberty Head Quarter Eagle Proof: A rare coin with a mintage of only 20 pieces, Stewart’s coin was considered a “splendid blazing gem” and fetched $7,000 at auction—equivalent to $53,060 in today’s dollars.
- 1873-CC Liberty Seated Dollar: This coin sold for $5,500 and remains a key highlight in Stewart’s collection.
- 1795 Flowing Hair Half Dollar: Described as “Brilliant Uncirculated,” this coin sold for $2,900 and remains one of the most iconic pieces of U.S. coinage.
The Auction of the Stewart Collection
After Arthur B. Stewart’s passing on March 17, 1970, his coin collection was appraised and ultimately auctioned off. The family hired Harmer, Rooke Numismatics in New York for the initial appraisal, followed by a second appraisal in 1971 by William Anton, Jr., a respected coin dealer. In May 1972, the collection was sold in a three-day auction held by Stack’s at the New York Sheraton, attracting numismatists from all over the world.
Record-Breaking Results
Stewart’s coins, ranging in grade from heavily circulated to Gem Brilliant Uncirculated, drew significant interest. Some of the top lots from the auction included:
- 1875 Liberty Head Quarter Eagle Proof – $7,000
- 1873-CC Liberty Seated Dollar – $5,500
- 1861-D Gold Dollar – $5,250
- 1795 Flowing Hair Half Dollar – $2,900
Additionally, full sets of Peace Dollars, Washington Quarters, and Proof Sets from 1937-1942 were sold, further adding to the historical value of the collection.
Post-Auction Legacy: Pedigree and Resale of Stewart’s Coins
Stewart’s collection continues to command attention even today. Many coins from the sale have passed through multiple hands, with collectors like Jerome S. Reznick and the Naples Bay Collector playing a significant role in preserving the Stewart pedigree. Thanks to modern auction archives, coins from Stewart’s collection can be traced and are often referenced by their Stewart provenance.
Notable Resales and New Owners
Some coins from Stewart’s collection have reached impressive prices in subsequent auctions. For example:
- 1856 Three-Cent Silver: Originally purchased by Jerome S. Reznick for $85, it was later sold for $2,880 in 2023.
- 1878 Shield Nickel Proof: This coin, once acquired for $225, was resold for $1,200 in 2023, further solidifying its historical significance.
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The Lasting Impact of the Stewart Collection
Arthur B. Stewart’s legacy as a numismatist is firmly entrenched in the history of U.S. coin collecting. His collection was not only diverse but also meticulously curated, focusing on rare and significant pieces from American coinage history. Today, collectors still reference his catalog and the coins from his collection remain prized by numismatists worldwide.
The Arthur B. Stewart Collection serves as a benchmark for high-quality American coins, and its auction in 1972 continues to be regarded as one of the most significant numismatic sales of the 20th century. For collectors and enthusiasts alike, Stewart’s dedication to his craft is an inspiration, and his collection remains an essential part of numismatic history.
Arthur B. Stewart’s contribution to coin collecting is unforgettable. From his early days as a young collector to his successful auction in 1972, his coins continue to captivate collectors, appraisers, and historians. His collection remains a touchstone for understanding the rich history of U.S. coinage, and his legacy continues to influence numismatic circles to this day. Whether you’re a seasoned collector or just starting out, the story of Stewart’s collection is an important chapter in the story of American
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