Pedigree Coins: What Are They?

Have you ever noticed a name on a slabbed coin label?  Have you ever read a description of a coin on a site like Heritage Auctions and noticed something that says “Ex. Eliasberg” in the description of the coin?  If so, then you are looking at a pedigree coin.  

A pedigree coin is a coin that can trace ownership back to a famous collector.   What constitutes a famous collector can be debated, but typically these collectors own large, valuable, rare, or high-end collections.  Some well-known collectors whose coins will generate a pedigree designation are Louis Eliasberg, Harry Bass, Bob Simpson, James Stack, etc. There are too many to list but there are many more.  

Seeing the kinds of coins these famous numismatists collected is interesting.   What were they looking for in coins?  Why did they decide on this specific example?  Eliasberg, as most know, wanted a complete collection of United States coins.  Other collectors have different visions of what they should collect.  Another famous collector, Colonel Ned Green, once owned all five 1913 Liberty nickels.  This history is what adds to the mystique of some of these pedigree coins and why the pedigree is important.    

One of the natural questions that arises from pedigree coins is: are they worth more?  There’s no black and white answer to this.  I do know there are collectors who will collect pedigree coins from certain famous collectors.  In a case like this, they will pay more.  However, in general, most pedigrees won’t carry much of a premium over coins of the same exact grade.  Now, most of these collectors were wealthy and only bought the best; so, in that regard, you’ll see many pedigree coins will be out of reach of most collectors.  However, there are many pedigree coins that most collectors will be able to purchase.  Just recently, the Bruce Sherman collection was auctioned off.  In addition to many high-end rare coins, there were many more common coins that Bruce also collected. These coins were well within reach of most collectors.  

Pedigree coins can trace the history of coins.  Sometimes the history of the coin is interesting.   This is why the market for some pedigree coins remains strong.  Not only are you buying a coin, but you are also buying the history that goes along with it.  This is what makes pedigree coins special.