J & L Commemoratives
BOONE 1935/1934-D


Obverse
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Reverse
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Coin Details

  

Set Details
Origin/Country: United States
Design Description: SILVER COMMEMORATIVES
Item Description: 50C 1935/1934 D BOONE
Grade: PCGS MS 68
Owner: Z Willie
 
Winning Set: J & L Commemoratives
Date Added: 9/26/2005
Research: See NGC's Census Report for this Coin

Owner's Description

1935-D Boone. Small 1934. MS-68 (PCGS). ANR Baltimore Mar/06<br /><br />A coin of commanding importance, the present piece is one of the two lowest mintage pieces in the series, with just 2,000 distributed. From what remains of that supply, PCGS has graded a fair number, but none finer than the Jewell Collection specimen, and only five at this particular level.<br /> <br />Both obverse and reverse have splendid iridescent toning revealing shades of blue, gold, and magenta, among others. Earlier this piece was in the remarkable commemorative collection formed by Larry Shepherd, giving the buyer two remarkable pedigrees at the same time.<br /><br />PCGS Population: 5; none finer.<br /> <br />The 1935 Denver and San Francisco Boone issues with small "1934" were the catalyst for the great commemorative boom of 1935-1936. After sales of the regular 1935 Philadelphia, Denver, and San Francisco coins had been well underway, Frank Dunn, in charge of the distribution, ordered from the Mint some special varieties of the same three issues, but with the small date "1934" on the reverse. For the Philadelphia issue he had 10,000 made, but for Denver and San Francisco just 2,000. These were advertised for sale in the autumn, with publicity in New York City through the newspapers. Later, advertisements appeared in The Numismatist and elsewhere. According to Dunn, the excitement was so great in New York City that he was completely sold out. By the time that collectors had a chance to order, no more were available. The price for the two Boone issues went from $3.70, the issue price (high enough, by the way), to about $50 per set, then even higher. There were cries of anguish among collectors who had been left out.<br /> <br />Marvelously, Dunn just happened to have a few more sets for sale later, at the advance prices, claiming that he had bought some back from those who were lucky enough to buy in the first place. However, investigation of the matter, played out over a long period of time, revealed that Dunn sold relatively few sets at his original price, keeping the profits for himself when the market advanced. A fake account of the situation was provided by Dunn to The Numismatist and other pronouncements were given, also false. Things went from bad to worse for Dunn, deservedly so, to the extent in which he had certain properties transferred over to his wife's name, in view of threatened law suits. However, Dunn carried on until 1938 as the distributor.<br /> <br />Today of the 2,000 each distributed of the Denver and San Francisco varieties with small "1934," probably 1,500 or more exist in collectors' hands. If any were sold to the general public through New York City newspaper publicity, the number must have been very few, for we cannot recall ever seeing a mishandled or circulated example!<br /><br />From the Richard Jewell Collection. Previously from the Larry Shepherd Collection; the Bruce Scher Collection.

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