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Twenty years later: revisiting an international event…
November 5, 2009 by TimHughes · 1 Comment
Those of us who may reluctantly fall into the category of the “middle aged” can reflect upon a number of historic events and our thoughts on when they happened. For me John F. Kennedy’s assassination and its announcement when I was in elementary school was the first major historic event I lived through, and experiences relating to it are still etched in my mind.
Some events seem impossible to be reaching notable anniversary status as they seem to have happened in the recent past. Man walking on the moon is one–it recently passed its 40th anniversary–and the Nixon/Watergate mess is now over 35 years in the past.
The fall of the Berlin Wall is now at it’s 20th anniversary. It seems impossible. I clearly recall the considerable news coverage of the event and the following actions that would lead to German unity less than one year after the walls came down. Back then I had a customer from Berlin and was able consummate a purchase of various Berlin newspapers covering those events, knowing that newspapers from where the news was being made would always be the best to have in a collection.
I recently dug out several titles and editions and share with you perhaps the best, being an “Extra” edition of “Der Tages Spiegel” (translates to “The Daily Mirror”) of November 10, 1989. The entire front page of this folio-size newspaper is taken up with a huge photo of people climbing onto, and celebrating, at the Berlin Wall with the Brandenburg Gate in the background. the banner headline–and the only text on the front page–translates: “The Night They Opened The Border In Berlin”. The remaining 3 pages of this four page newspaper are taken up with various articles and many photos of the celebration.
It was a joyous and memorable event for the world, and yes, it really was 20 years ago.
Some more prices, then and now…
October 6, 2009 by TimHughes · 1 Comment
Some months ago I reflected upon the value of newspapers we have sold years ago compared to more current values for the same title and event. Having published catalogs since 1977 it is interesting to pull out some of the early editions and see what we sold newspapers for many years ago.
Although we are careful to never recommend early or historic newspapers as investments, many have done well over the years. Not surprisingly, those which are most historic and less common have appreciated the best, while others—particularly titles which tend to come available from time to time—have appreciated but not at an exceptional pace. A few examples:
Within our catalogs created in 1980, twenty-nine years ago, are several entries which we still are able to keep in inventory such as “Harper’s Weekly” of July 22, 1876 with coverage of the Custer massacre. We sold it then for $32, and offer it today for $112. Using an inflation calculator the $32 would have inflated to $82.57 today. Also in “Harper’s Weekly” we sold Oct. 4, 1862 with a printing of the Emancipation Proclamation for $52 ($134.28 in today’s dollars), while today we sell it for $125. The same title for March 22, 1862 on the Monitor vs. the Merrimack sold then for $38 ($98.05 in today’s dollars) and for $113 today.
Although “Harper’s Weekly” remains a very desirable title and has most certainly become more scarce as the years have gone by, I would not consider it a rare title. Consequently some prices have exceeded inflation while some have not.
But somewhat less common titles, and more significant events, have had more interesting price changes. In 1980 we sold the “New York Tribune” of April 4, 1865 which reported the fall of Richmond and had a huge eagle engraving on the front page, for $48 ($123.85 in today’s dollars). Not long ago we sold the same issue for $477. And in 1980 we sold the “Gazette of the United States” of March 2, 1791 on the creation of the Bank of the United States, for $19 ($49.03 in today’s dollars) and a more recent sale was for $775.
Of courses naivete (or perhaps stupidity) was the reason for many low prices years ago. Back in the “early years” I simply didn’t have the experience of knowing how desirable some events would be for collectors. If I bought an item for $20 and sold it for $30 I was happy.
Pricing has become much more sophisticated the last ten years or so, but I’m sure we still offer some interesting gems of history at relatively low prices which will take on much greater desirability as the years progress. Part of the fun of the hobby is seeking them out.
Wrappers and no wrappers…
October 1, 2009 by TimHughes · 1 Comment
As regular customers have noticed, our only foray into the world of magazines is pretty much limited to 18th century titles. Magazine collecting of the 19th and 20th centuries is a world onto itself and there are many other dealers who make such items their specialty. I never felt a need to venture there.
Occasionally one will see our listings of magazines which note “with original wrappers” and perhaps wondered what this meant. Most magazines which were sold “on the street” came with a wrapper, or front and back cover, which was in addition to the typical title page of the magazine. Typically the wrapper would have a blue or blue-green tint. Some wrappers had a decorative embellishment and some had the table of contents. The reverse side of the front wrapper and both sides of the back wrapper commonly had advertisements, often for books or other publications offered by the printer.
But magazines with wrappers are rarely found. At least 98% of the 18th century magazines on the market today came from bound volumes. The volumes were created when libraries–whether personal or institutional–had an entire year’s edition of a title bound into book form for efficient storage & display on a bookcase. And many magazine publishers set aside extra copies of each month’s edition for binding and sale to patrons at the conclusion of each year. Since wrappers were considered superfluous they were almost always removed from the issues before being bound. The binding process also involved trimming the three exposed margins for a neater appearance. Consequently when loose issues became available to collectors centuries later through library deaccessionings, they were lacking the wrappers.
Those fortunate enough to find a magazine which survived the last several centuries without being bound may experience the great pleasure of having a magazine “as issued”, or with the wrappers intact and without the margins trimmed. Such find are quite rare.
I have discovered many over the course of the last 33 years, and have even had the pleasure to find an occasional bound volume of an 18th century title with the wrappers bound in, either with each of the monthly issues or grouped collectively at the back of the volume. Such wrappers would have trimmed margins, which is less then ideal, but wrappers with trimmed margins are far better than no wrappers at all. And perhaps in just one or two instances I encountered a volume with wrappers bound in and margins untrimmed.
In any case, magazines with wrappers intact are the goal for serious collectors of 18th century magazines. Not surprisingly such issues command a premium price, but their rarity also creates a high level of desirability.
What’s the best newspaper to have?
August 27, 2009 by TimHughes · 2 Comments
Most collectors of historic newspapers would agree that the best newspaper to have for an historic event is the city where it happened. Among the more notable would be the Boston Gazette reporting the Boston Massacre, the Honolulu issue on the bombing of Pearl Harbor, the Dallas newspapers on JFK’s assassination, and a Chicago newspaper covering the St. Valentine’s Day massacre. Stock market or finance related events are best in the Wall Street Journal, and when events happened in small towns which had no newspapers, the closest major city might be the next best thing.
But some events can’t be had—or can very rarely be had—from the city where “it” happened. What are the best issue in those situations? What’s the best issue for man landing on the moon? Or the atomic bomb dropping on Hiroshima & Nagasaki? Or the first manned flight around the earth? Or the discovery of the North Pole? Or Edison’s invention of the phonograph? What would be the best newspaper for the sinking of the Titanic?
There are many answers; perhaps as many as there are collectors. But I’ll offer a few thoughts. Actually what brought all of this to mind was an issue I recently wrote up for a future catalog. It announced the dropping of the atomic bomb on Hiroshima and was from Knoxville, Tennessee. The headline reads: “Power Of Oak Ridge Atomic Bomb Hits Japs”. Keeping in mind that Oak Ridge, Tenn., the home of the Manhattan Project which developed the bomb, is less than 20 miles from Knoxville, it is not surprising that they localized the headline with mention of the role Oak Ridge played. I suspect no other newspaper in the country mentioned Oak Ridge in their headline on the atomic bomb drop. Outside of finding a Japanese newspaper from the day after, I suspect this Knoxville newspaper could be the best issue on this event.
Any space flight issue might best be from the Cape Canaveral area. Or perhaps the hometown of one of the astronauts involved. We offer a Wapakoneta, Ohio, newspaper on man walking on the moon as it’s Neil Armstrong’s hometown, and their headline is localized by: “NEIL STEPS ON THE MOON” while most newspapers reported “MAN WALKS ON THE MOON”.
The graphic appeal of the front page is a major factor as well and in the eye of many is always the deciding factor in determining the “best” for that event. We price Titanic issues almost entirely on the “wow” effect of the front page, as the larger the headline and more dramatic the look the better, regardless of where the newspaper was printed. This holds true for many 20th century events, such as D-Day, V-E Day, V-J Day and and any other military event. Some might argue that the “Stars And Stripes” would be the best paper for a military event, or perhaps newspaper from Washington D.C., home of the Pentagon.
We’d like to hear what you think on the best issues for historic events which can’t be found from the city involved. I’m sure your thoughts will spark other collectors to refine their holdings with better or more appropriate newspapers for notable events. Let us here from you!
More on the time lag in news reporting…
August 10, 2009 by TimHughes · 2 Comments
Some weeks ago I commented on the time lag between a news event and its appearance in newspapers of the day, focusing on the publication dates of the Declaration of Independence in various newspapers.
Because time lag is a major factor in looking for news reports prior to the use of the telegraph in the mid-19th century, I thought more discussion should be given to the issue. Again I turn to Brigham’s “Journals and Journeymen” for much valuable information.
Obviously the delay in receiving news of world events was beyond the control of newspaper publishers. The news of the death of Queen Anne on August 1, 1714 arrived in America on September 15. George I died June 14, 1727 but his subjects in America did not learn of it until August 13. George II died October 25, 1760 and it was two months later before the news arrived at Boston. Even the significance of the Treaty of Versailles at Paris which ended the Revolutionary War was first heard of at Boston on October 22 and not published in a newspaper until October 30 despite the event happening on September 3.
Ocean travel was dangerous & speed was dependent on the weather. Foreign wars & privateering also made voyages quite hazardous. The first issue of the “Boston News-Letter” of April 24, 1704 carried London reports of December 20, 1703. It was common for ships to load their passengers & their London newspapers and then wait around in the Channel for up to 3 weeks or more before sailing. During the first two years of newspaper publication there were exceptional voyages of five weeks, but the average was about two months.
After the Revolution & before 1820 merchants began building larger vessels which meant improved speed. In 1820 there were frequent sailings of 28 to 30 days, but there was no dependable time schedule.
Noting the diaries of some famous travelers we gain some insight. In 1722 Samuel Johnson traveled from Boston to England in 39 days. Benjamin Franklin in returning from England to Philadelphia in 1726 did so in 67 days. William Beverley sailed from Virginia to Liverpool in 37 days. Abigail Adams, whose story of a voyage is one of the most detailed on record, sailed from America to England in 30 days in 1784.
Postriders took a week to travel from New York to Boston, and at least two days from Philadelphia to New York. When stagecoaches came into use around 1785, the delivery of letters & newspapers was quicker & more consistent.
But by the establishment of the magnetic telegraph in 1844 and the laying of the Atlantic cable in 1858 (but not perfected until 1866) news was transmitteed from country to country instantaneously.
Rare newspaper prices from 60 years ago…
July 30, 2009 by TimHughes · 2 Comments
While cleaning out some files at home I came across a little catalog of “American Newspapers 1732 – 1890” offered for sale by Stephen Nagy of Philadelphia. The back page has various items noting the date of the catalog as 1948.
The photos show some interesting prices. Some may not be shown in the photos but I noticed a Confederate issue of the “Norfolk Bulletin” of 1864 for $1.25; the “Daily Hawaiian Herald” of 1866 for $3; a colonial issue of the “Pennsylvania Chronicle” of Phila., 1768 for $7.50; a ‘Phila. Inquirer” with a first report of Lincoln’s assassination for $3; the very desirable “Inquirer” of April 25, 1865 with the full pg. illustration of Lincoln’s remains in Independence Hall for $4; and a wide selection of “Dunlap’s American Daily Advertiser“, Phila., from 1796 and 1797 for $1 each.
We’ve never promoted the investment potential of rare newspapers but rather encourage the collecting of historic issues for enjoyment & personal pleasure, but this catalog from the past does give evidence of the considerable variance in prices from 61 years ago. Additional images of this early newspapers catalog may be found at: American Newspapers (1732-1890) Catalog – 1948.
Pricing newspapers over 30 years ago…
May 18, 2009 by TimHughes · 22 Comments
In conversations with people about how I started this business, a common question is, “How did you know how to prices newspapers back then?” Well, the short answer is I didn’t.
This venture started as a hobby with no thought of it turning into a business. But when I started getting too many of a similar title or date, selling off the “unwanteds” became a more common occurrence. My simple thought was, if I had $3 for it, try to sell it for $5. If I did, the price stuck for future issues; if it didn’t, the price dropped to $4.
But this became trickier years later when I was buying for resale but didn’t have enough experience to know what to pay, nor what to price them at. Nor did anyone for that matter, as there were no price guides, nor sufficient auction records to offer a clue.
I was flying by the seat of my pants. If I thought an event was historic, say a major Civil War battle, I would pay the $5 price and increase it by 50% or so. If it sold, then the next time I inched it up a bit more. If it didn’t, I reduced the price a bit. Never knowing how high customers might go for an event, I might have “inched up” the price of an event 15 times over the coarse of 4 or 5 years until there was some resistance. I was careful to keep records of sales through the years–even in the pre-computer days–which was a tremendous assistance in assigning values to the myriad of historical events covering 300 years of history.
Did I sell some great material too cheaply in the early years? I sure did. Looking at some of my earlier catalogs I gladly pay five times the selling price of many items I sold. But it was part of the process. I remember nce having a volume of a Las Vegas, New Mexico newspaper from 1881. There must have been 30 or 40 issues with a small “Reward” ad for the capture of Billy the Kid. I think I sold those issues for less than $20 each. If I had 40 of them how rare could they be? Certainly I’ve learned through the years, and became smarter as well.
But we are still challenged today with some items. As we continue to find truly rare, almost unique issues it becomes difficult to assign values with no history or prior sales. But these are the fun challenges. As much as you may enjoy finding interesting items in our catalogs, I enjoy finding the unusual to offer.
Although this is a business, I have always gotten more joy from buying newspapers than selling them.
Obama election victory : a follow-up…
November 10, 2008 by TimHughes · 1 Comment
I commented previously on the most desirable issue or issues to have on the November presidential election. My thought being a newspaper from the victor’s hometown and/or a newspaper from Washington,
D.C. being among the best. Plus, how desirable are presidential election newspapers in the scope of the historical newspaper hobby?
To most collectors, election reports are desired. But this election was different. More than just another presidential election, history was made. The first African-American will be heading to the White House in January and it’s interesting to speculate on how this makes a 2008 election newspaper more desirable than any previous election report.
It has been interesting following the eBay sales over the past six days. Not surprisingly thousands of newspapers have been listed and many have been sold, including at least one lot of over 600 issues of the Chicago Tribune (sold for $1799). The highest sold prices I’ve noticed have been the New York Times, and being one of the 
more famous & prestigious newspapers in the world I’m not surprised it would command some attention among bidders. I saw bona fide sale prices for individual issues of $400, $300, $265, $255 and another dozen sales above the $100 mark. Curiously, the highest Chicago newspaper sale price I noted (Tribune) was for $115. Most of these prices were achieved the day after the election as savvy sellers took advantage of the expected post-election euphoria to achieve what seem to have been the highest prices of the week.
Although I have no statistics upon which to base this thought, I don’t believe past election newspaper sales resulting in so many $100+ final sales. I suspect the added historical appeal this election provided had much to do with both the demand and the prices achieved. We are selling election issues from 2004 for $28 (interesting pair from Florida: see listing) and $50 for the Washington Post.
But how will prices be affected going forward? As is the case with all collectibles, buyer demand will set the
mark. The degree to which collectors recognize or appreciate this election as being different from most, and the shear quantity of issues hoarded last week–and which come on to the market over the next ten years–will determine whether prices will languish in the $10 to $25 range or whether $75 might be a typical sale price. Time will tell.
What’s your thought?
The vast majority of Chicago issues and the New York Times sold the past 4 or 5 days seem to be in the $10 to $25 per issue range although there are exceptions at both ends of this range. Looking forward ten years… will they be considered bargain purchases? Again, time will tell. It’s part of the fun of collecting!
All this being said, please note: When the potential investment value of a newspaper becomes the primary motivation for purchasing historic newspapers rather than the intangible value of holding history in your hands, the joy of the hobby may well be sacrificed. Keeping true to the hobby, we urge “collecting” and not “investing”.
Questions… Questions? Questions!
September 25, 2008 by TimHughes · 23 Comments
Given that collecting early and rare newspapers is a relatively unknown hobby, there is certainly a wealth of questions which continually come our way by those intrigued by what we offer.
“Don’t the old ones just fall apart?” “Are your issues genuine?” “Do you just sell clippings?” “How big are the headlines?” “Why is the newspaper so white–it can’t be genuine!” “Why are the prices so low?” “Where do you get these newspapers?” “What determines a newspaper’s value?”. etc., etc.
A prime purpose of this blog is to create an atmosphere where we can encourage an on-going discourse about the hobby, and allow everyone to pose questions and topics for discussion, which we will be happy to address in future posts.
Do be in touch with your questions, thoughts, or observations on the hobby. We encourage all to participate and to respond to one another’s thoughts to foster an interesting and meaningful exchange on this fascinating hobby. The easiest way to suggest topics and/or offer questions for future discussion is by responding to this post. Thanks in advance for joining the discussion!