Welcome to the latest edition of my Notes. I am writing these words before heading off to the Baltimore Convention. By the time you read them our auction of the Entlich, White Oak, Gross & St. Andre Collections will be history. Advance interest has been very strong, and I expect the event will be memorable.

At Stack's we average more than one sale a month, as you know. Coming up on April 22 and 23 in Rosemont (Chicago), Illinois is our sale of the Saint Ludovico and Firth of Clyde Collections, an impressive offering, joined by selections from the Bruce Antonelli Collection of Roman Republican and Imperatorial coinage, Richard Gross Collection, the Royal Collection of Canadian currency, and selections from the estate of Henry Schlesinger. We also feature an important offering of odd and curious money from the original display collection of Louis E. Eliasberg, Sr., hidden away for over a generation! To the preceding are added medals, world currency, United States colonial and federal coins, American paper money, and other consignments of interest and significance. Most items are fresh to the modern market -adding additional interest.

If you are not a buyer in the current market, perhaps you are thinking of selling. For every numismatist there is a harvest time. We invite you to take advantage of the excitement and enthusiasm and be a part of our dynamic 2009 program! Our sales are so popular that space is often rare! Now is the time to plan ahead to reserve a position. Already, many important consignments have been booked for even into 2010, including our January sales! Openings are available now for selected sales this summer, including our spectacular pre-American Numismatic Association Convention auction in Los Angeles and other shows, plus in our custom gallery here in New York City.

While we have our share of acquiring consignments one week and having them catalogued and prepared for auction a week or two later, it is often a good policy to plan ahead. After all, if you've spent years in building a collection, there is no reason to rush-rush in its sale. Presentation and the correct venue are also important. In the offering of your coins, tokens, medals, or paper money we are on the same side of the table that you are: the better you do, the better we do! This is ideal, as we both have the same goals.

The tradition of Stack's auctions began way back in 1935. Since then, our firm has handled more important collections, more rarities, and more other important numismatic properties than has any other coin auction firm in history, not only in America but in the entire world. Today in 2009, innovations are upon us, and not only do we have our traditional catalogue-presented sales, but the Internet has come to the fore, with our Internet-only E-vents and our recently launched Golden Opportunities. In addition, the catalogue sales bearing the imprint of Stack's and also of Coin Galleries can be accessed on the Internet as well.

April beckons, and springtime is in the air. Buds are on the trees here in New Hampshire. Soon, early traces of summer will be here. Of course, if you live in Arizona, Florida, or some other southern clime, it is already warm, and summer will mean the opposite -you will be seeking shade and coolness.

An interesting thing about numismatics is that it knows no season. Generations ago, the summer was viewed as slow, and many dealers simply closed up shop in July and August, using the opportunity to go on vacation, or to catch up on work. S. Hudson Chapman (whose brilliant career as a professional numismatist and cataloguer extended from the 1870s to the 1920s) often went to Europe -to see the sights and scout for coins. The slow business time of summer was typically punctuated by the summer convention of the American Numismatic Association, but apart from that not much went on. That changed in the 1950s. Improved communications, air conditioned homes and offices, and the dynamics of the coin market all combined to turn numismatics into a truly year-round activity, as it remains today. July and August are every bit as active as, say, January and February.

As you contemplate the coming season, take out a copy of the Guide Book of United States Coins and see what interesting series you might like to collect and find some new avenues of exploration. Or, if you want to go beyond United States coins, check our auction archives for just about any topic under the numismatic sun. Review the pictures, descriptions, and prices, and you might get some good ideas. While "trophy coins" and rarities get a lot of publicity, the fact remains that a very nice collection of coins, tokens, medals, or paper money can be formed for reasonable expense. The pleasure of ownership is unlimited.

See you next week.

Best Wishes,