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WAYTE RAYMOND (1886-1956)

The E-Sylum (3/26/2017)

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John Lupia submitted the following information from his   Encyclopedic Dictionary of Numismatic Biographies for this week's installment of his series. Thanks! As always, this is an excerpt with the full article and bibliography available online. This week's subject is New York dealer and publisher Wayte Raymond. -Editor

RAYMOND, WAYTE Wayte Raymond (1886-1956), was born at Norwalk, Fairfield County, Connecticut on November 9, 1886, son of Wayte A. Raymond (1852-1934), a brush manufacturer, traveling salesman, and a native of Battle Creek, Michigan, and Harriet W. Raymond (1849-), a native of Connecticut. His Prescott ancestry served in the Revolutionary War.

Wayte Raymond, the gentle giant of American Numismatics on whose broad shoulders we are borne aloft.

Wayte Raymond was a prolific writer and publisher, one of the great innovators in American numismatic history introducing Beistle's patented new coin storage boards with their clear transparent protective viewing windows he began manufacturing them under his own brand name : National Coin Albums, and also introduced photographically illustrated standard coin catalogues, a wide variety of numismatic literature on American and foreign coins, tokens, and medals, and sixty-nine coin auction sales under the name Wayte Raymond, forty-three coin auction sales under the name United States Coin Company, and fifty-four coin auction sales under the name J. C. Morgenthau, totaling 166 known coin auction sales. Among his innovations was streamlining or so-called modernizing of American numismatics making it exclusive to coins, medals, tokens, paper money, and its storage materials and literature. In 1957, John J. Ford dubbed him "The Dean of American Numismatists".

From 1901 to 1912, he worked as a teller at the City National Bank, South Norwalk, Connecticut, and while handling old coins and paper money he became interested in them. In May 1902, at the age of 15 1/2 he applied to the ANA.

On June 1, 1902, he became ANA Member No. 396. He also became a member of the ANS.

He began selling English silver pennies of Edward I and II, London and Canterbury Mints, at 50 Cents apiece, in The Numismatist, August 1902 issue on page 250.

In the May 1903 issue of The Numismatist, he solicited buying U. S. Half Cents and Hard Times Tokens. In the June issue he expanded his want list to include pre-1820 EAC, English copper from James I - William IV, and British colonials.

In 1904, he began to publish his Fixed Price Lists and solicited customers in the May issue of The Numismatist.

During the period from 1904 to 1908 he began amassing coins from collectors and over the counter at the bank organizing them and selling them through lists now lost.

In 1908, he was a charter member of the New York Numismatic Club.

On his 22nd birthday, November 9, 1908, he held his first mail bid coin auction sale.

Wayte Raymond Numismatist ad Feb 1908 p. 63 Wayte Raymond Numismatist ad 1911 Feb, 77

United States Coin Company
In September 1912, he quit working as a teller at the City National Bank, South Norwalk, Connecticut, established the United States Coin Company, becoming a full-time coin dealer at 200m Fifth Avenue, New York, with partner Elmer Sears of Swansea as the treasurer. From 1912 to 1918 they held 43 coin auction sales.

In May 1915, he sold the Granberg/Woodin Collection.

In July 1915, Edgar Holmes Adams appears to have assisted Raymond publishing the United States Coin Company Bulletin.

From 1916 to 1933, he published the Coin and Medal Bulletin. (Clain Stefanelli 473) From April 1916 to March 1917 Edgar Holmes Adams co-edited Coin and Medal Bulletin with Wayte Raymond. Raymond revived the publication in a new series from 1924-1933.

When the new Mercury Head dime made its first appearance Wayte Raymond remarks were published in the December issue of The Numismatist,

"I think very favorably of the new dimes. The head of Liberty has considerable resemblance to some coins of the Roman Republic, and is very artistic. The only criticism I have to make is the fact that the words "In God We Trust" and the date seem to be placed on the die as an afterthought, as there is really no place for them on the obverse."

In 1917, he was made a Fellow of the American Numismatic Society.

On April 25, 1917, he married Olga Eleanor Louise Osterholm (1887-1976), of Brooklyn, New York.

On May 1, 1918 the United States Coin Company was liquidated.

United States Coin Co Numismatist ad Jan 1915, 35 United States Coin Company liquidated Numismatit Apr 1918, p. 187

Anderson Studios / Scott Stamp & Coin Company Wayte Raymond's public announcement of the dissolution of the United States Coin Company published in the April 1918 issue of The Numismatist, page 137. He moved to the Anderson Studios, Park Avenue and 59th Street,

In 1920, he published with Edgar Holmes Adams a book on the history of American merchant’s store cards and checks entitled : United States Store Cards: A List of Merchants’ Advertising, Checks, Restaurant Checks and Kindred Pieces Issued from 1789 up to Recent Years (New York : E. H. Adams & W. Raymond, 1920).

On July 15, 1922, he and his wife Olga sailed aboard the S. S. Olympic to the British Isles and to France.

In March 1923, he handled the purchase of the Col. James W. Ellsworth 2,000 specimen collection for $100,000, the largest amount ever paid in the annals of American numismatic history at that time. He already was friends with Col. Green who became his most important client until Green's demise in 1936.

In 1931, he published Private Gold Coins Struck in the United States, 1830-1861; and United States Copper Coins.

In 1932, he began to publish his annual series : Standard Catalogue of United States Silver and Copper Coins.

From 1932 to 1945 he catalogued together with Philadelphia coin dealer James MacAllister and conducted auction sales for J. C. Morgenthau Galleries, known as the Raymond-MacAllister, Morgenthau Sales.

In 1933, he published United States Notes 1861-1923; and Silver Coins of the United States Mints; and Premium Values of Rare United States Coins ; and Standard Catalogue of Early American Coins 1652-1796.

From 1934 to 1946 he managed the coin department for Scott Stamp & Coin Company, ending his term he handed the baton to his former employee John J. Ford and his company, New Netherlands Coin Company.

Whew. Raymond's story is far from over, but I'm going to stop here for now. See the complete article online for the rest, although I may pick up where we left off next week. Thanks again to John Lupia for sharing his prolific biographical work. -Editor

To read the complete article, see:

U.S. Rare Coin Investments
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