This is the second article in the series. To view Part One - Click here

Frank Aleamon Leach was born in Auburn, New York on August 19, 1846. In 1852, when he was not quite five years old, the family arrived in San Francisco. As he became a teenager, Frank tried his hand by working in machine shops but found this work unsatisfactory. In 1863, at the age of 17, he learned about the publication of a newspaper that was about to be started. Frank was offered a job to assist the printer and thus began his newspaper career. Frank Leach always considered himself a “newspaper man” and published his life story under the title of: “Recollections of a Newspaper Man.”

It is important to this story to remember that in the days prior to the mass electronic media such as radios, televisions, internet-websites, portable telephones, etc., the newspaper provided the citizens with the reports of the political, business and other events of the day. As a result, the editors of these newspapers were very influential in shaping public opinion. They were as influential in elections and the shaping of governmental policies as any modern political action networks.

Frank Leach had been interested in political matters for a number of years. In fact, in 1880, he attended the Republican Convention in Chicago as an “alternate” delegate. He was appointed to the 1891 Assay Commission. In May 1897, following the inauguration of President McKinley, Frank Leach was notified he was the choice for the position of Superintendent of the United States Mint at San Francisco. He had wanted to divest himself of the newspaper business and this opportunity seemed to offer a new career. Leach assumed his duties on August 1, 1897. (more…)

My friend, John Jay Pittman, though not a wealthy man to begin with, built a vast and famous coin collection. He accomplished that feat by studying relentlessly, then shrewdly investing a large percentage of his limited income as a middle manager for Eastman Kodak and his wife’s income as a schoolteacher. In 1954, he mortgaged his house to travel to Egypt and bid on coins at the King Farouk Collection auction. John sacrificed his and his family’s lifestyle over the course of many decades. He passed away in 1996, with no apparent regrets, and his long-suffering family justly received the benefit of his efforts when the collection was sold at auction for over $30 million. But why did he do it?

One fervent collector of historical documents refers to his own collecting propensity as “a genetic defect”. More likely, collecting is a basic human instinct; a survival advantage amplified by eons of natural selection. Those of our ancient ancestors who managed to accumulate scarce objects may have been more prone to survive long enough to bear offspring. Even today, wealth correlates to longer life expectancy - and could any form of wealth be more basic than scarce, tangible objects?

But more relevant than the reason you happen to collect Lithuanian first day covers or 1950s romance comic books today, are your long-term goals in seeking them. Understanding your goals may help you achieve them. (more…)

The “New Mint” – The “Granite Lady.”

The early history of Alta California included the establishment of a series of Missions by the Franciscan Monks, accompanied by Spanish soldiers from Mexico and, from the north, the fur trappers, including those from Russia. The population, at fi rst, was sparse. On September 16, 1848, there were only about 15,000 people in Alta California. However, this changed rapidly with the discovery of gold at Sutter’s Mill near Coloma by John Marshall on January 24, 1848. Soon, the “gold rush” began, led by the miners known as the “49ers.” Within two years, California was admitted to the Union as the 31st state in 1850.

A desperate need for financial institutions soon followed. Some twenty private mints of various sizes and efficiency were established. On September 16, 1848, a newspaper, “The Californian” printed a resolution reciting this great need and asking for action.

The “action” was soon forthcoming. President Fillmore, in his first Message to Congress, December 2, 1850, recommended that a U.S. branch mint be established in California to meet the need there. The California State Legislature, meeting in Sacramento on April 9, 1852, approved a resolution asking that a mint be established in San Francisco. Congress authorized a U.S. branch mint in California and passed the Act of July 3, 1852 noting the facility would be located in San Francisco.

The minting of coins soon got underway. The new mint was located in a small, sixty square foot building located on Commercial St. However, it soon became apparent the facility was inadequate, even with modifications. The mint’s director remarked: “It is almost impossible to conceive how so much work can be well done, and so much business transacted safely in so small a space.” (more…)

By Jeff Starck COIN WORLD Staff

In determining whether a given coin has “eye appeal,” it all depends on the person you ask. To some, it’s a simple matter of taste, but to others, it’s so obvious as to have specific requirements and characteristics that a coin must meet.

The fact is, eye appeal is neither that loosely defined nor that strictly determined. The truth lies somewhere in the middle.

A definition

Without getting too far ahead of ourselves, simply put, in determining a coin’s grade, eye appeal is the element that “grabs” the viewer. Eye appeal is the overall look of a coin, according to a “coin lingo” guide at the Professional Coin Grading Service Web site.

Coin World columnist Q. David Bowers wrote in an April 9 column this year that, “eye appeal is a matter of opinion, but if a coin appears to be beautiful to your eyes, chances are good that when your collection is sold someday, buyers will feel likewise.”

In an earlier column, in the Feb. 5 issue, Bowers provides some questions to ask about a coin to determine its eye appeal. “Is the coin richly lustrous, or is it grainy or ‘greasy’ in appearance? Are there stains or spots? Is it dull gray, brown or even black? In a word, is it beautiful? Does it beckon, saying to you, ‘Buy me!’ ” Read Full Article