Over 200 Years of Combined Numismatic Experience at Your Disposal.
|November 2015 Issue|
A Newsletter By:
MY COIN JOURNEY PART V
By Warren Mills
It was a time when I had about two years under my belt of amazing fun and learning about my hobby and new profession. It’s great to truly love what you’re doing for a living. However, I felt that I could not compromise my ethics. The coin market peak of April 1980 was followed by a very prolonged crash and pricing adjustment. It’s hard for a large company with huge expenses to cut those expenses all at once. It’s like a large ocean liner making a turn at sea. It really takes time.
At that time, I was working with some of the greatest numismatists that were ever assembled. Now this great team was asked by their management to sell coins that were way over-graded and a poor value. Were they to do this, this would be a compromising of their integrity. Many couldn’t do it and left or were let go if they complained. The company decided to hire professional salesmen that worked on commission and let the professional numismatists go. Unfortunately, it was too late. The ship was sinking and the new hires just picked at the bones of the carcass to fatten their wallets at the expense of customers and the company that hired them.
In 1978, I obtained my Bachelor of Science degree from Bentley University. Now I had to decide if I should pursue my major or continue to give coins all of my effort. I decided to take courses at Boston University’s Metro College and do coins part time. When I left the company, I had an offer to work for Kagin’s. I didn’t know too much about Kagin’s, so I thanked them and decided to start my own company and called it Mills Numismatics. It was nice to work on my own, but I hadn’t acquired enough knowledge to truly make a living at coins. I really was just dabbling in the field.
A few months after leaving New England, Steve Ivy began calling me. It was an honor to have a prestigious numismatist offering me a job. He informed me that if I accepted, I’d have to move to Dallas, TX. I told him I was not interested in moving, but I appreciated the opportunity. It was a surprise to me that Kagin’s offered me a position and now Steve Ivy was interested. It must have been the hand of God keeping me on the path. So for a year and a half, I declined Steve’s generous offers to give me an opportunity and continued to dabble and go to school. Then I began to realize that at some point the coin market would come into a new upcycle and since I loved it so much, why not get back into it!? And what better way than to get established with another big firm and wait for the new upcycle in coins. So at the end of 1982, off to Dallas I went for a wonderful new numismatic adventure and what an adventure it was!
What happened next was most interesting. I’ll share details in our December newsletter.