1947 Redbook and R. S. Yeoman (2024)

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WingedLiberty1957 Posts: 2,965 ✭✭✭✭✭

December 18, 2012 12:07PM in U.S. Coin Forum

Richard S. Yeoman or R. S. Yeoman (born Richard S. Yeo on August 15, 1904 in Racine, Wisconsin) was a commercial artist, publicist, avid coin collector, and creative genius who helped to revolutionize and promote the field of numismatics.

During the Depression, Richard S. Yeo - who later used "Yeoman" as a professional and pen name, took a job in the marketing and advertising department of Whitman Publishing Company.
At that time, the hobby attracted only a small number of professionals and academicians, who had no easy way to store or display their coins. Coins often were laid flat in a drawer or dumped into an envelope. Later in 1930's Richard Yeo was asked to promote a large coin board that Whitman had acquired from an inventor.

The boards Whitman produced (and first sold in the Chicago area) were large enough for framing but difficult to store. That prompted Yeoman to work on a new design, and by 1940, had designed a 5.75 by 7.5 inch blue coin folder, which was convenient to use and also protected the coins. In an interview in 1978, Yeoman reminisced, "Our product wasn't an instant success with everyone, some Chicago dealers in the early 1940s would snicker when I came in with the folder, saying people didn't learn anything by using it." But those same dealers soon realized that folder sales helped to pay their rent.

This blue fold-out model (Whitman Folder) continued to catch on during the 1950's and 1960's was sold in many neighborhood drug stores across the U.S. (variations of that folder are still used and sold today.) I believe that these inexpensive Whitman folders provided a launching pad for many young collectors in the 1950's and 1960's.

In late 1946, Yeoman wrote "A Guide Book of United States Coins (1st Edition 1947)" -- also known as the "Red Book" due to it's bright red cover. This book has become the most widely distributed coin book ever published, which has sold over 21 million copies since it was first published in 1946.

Today, many coin historians acknowledge that the Whitman Folder and "Red Book" have done more than almost anything else to make coin collecting one of the country's more popular hobbies.

Yeoman remained active until the end, serving as a consultant to Whitman and visiting selected coin conventions. He won all of the hobby`s highest awards, and was praised for his sincerity, generosity and organizational ability.

R. S. Yeoman retired in 1970, and his assistant, Kenneth Bressett, remains the editor of the Blue Book and Red Book. Yeoman (with Bressett) is still listed as the author of each edition of the books.

R.S Yeoman died while driving a car near his retirement home in Tucson, Ariz on November 9, 1988. He was 84 years old.

Early editions of the "Red Book" are collectible. Original copies of the first edition have commanded $1,500 or more on the open market.

I recently bought a reprint of the original 1947 Redbook on Amazon for $17.95 -- and the first thing I noticed was there are no mintages given for any coin in this first edition, just market prices. It's interesting how we as collectors have come to lean on the mintages and their omission in this first edition seems very strange. The second amazing thing were the prices themselves. I was blown away by the incredibly low market prices of some numismatic rarities in the year 1947. Wow!

Here are a few samples:

1792 Half Disme (1947 Redbook $100 in Fine) (2012 Redbook $40,000 in Fine)

1793 Chain Cent (1947 Redbook $125 in Fine) (2012 Redbook $28,000 in Fine)

1795 Flowing Hair Silver Dollar (1947 Redbook $35 in Very Fine) (2012 Redbook $5,500 in Very Fine)

1795 Ten Dollar Gold (1947 Redbook $200 in Uncirculated) (2012 Redbook $90,000 in Uncirculated)

1895 Morgan Proof (1947 Redbook $35 in Proof) (2012 Redbook $45,000 in Proof)

1907 Ten Dollar Gold Rolled Edge with Periods (1947 Redbook $100 in Uncirculated) (2012 Redbook $72,500 in Uncirculated)

1909 VDB Matte Proof Lincoln (1947 Redbook $6 in Proof) (2012 Redbook $2,750 in Proof)

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LanceNewmanOCC Posts: 19,999 ✭✭✭✭✭
December 18, 2012 12:13PM
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well done and a great read about the person(s) that got the pricing of numismatics off to a great start
don't know where i'd be w/o having started with the 2009 redbook
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joeykoins Posts: 15,057 ✭✭✭✭✭
December 19, 2012 1:27AM
<< .
well done and a great read about the person(s) that got the pricing of numismatics off to a great start
don't know where i'd be w/o having started with the 2009 redbook
. >>
Your thread would be a stepping stone in coin collecting for a beginner.Great job! Man,those prices.From then and now.WOW!
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Coinsponge Posts: 3,927 ✭✭✭
December 19, 2012 1:50AM
Now, if only I had a time machine and a few dollars.
Gold and silver are valuable but wisdom is priceless.
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sparky64 Posts: 7,031 ✭✭✭✭✭
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December 19, 2012 2:15AM
Great post.
Thanks.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
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Dentuck Posts: 3,814 ✭✭✭
December 19, 2012 4:24AM
Thank you for sharing your thoughts on the Red Book!
One correction: The 1947 and following editions of the
Red Book did in fact include mintages; they just weren’t
typeset in the charts along with dates/mintmarks and
values, as we’re used to today. The mintages were listed
in the back of the book, in tables, under “Quantities of Coins
Struck” (pages 232 through 250 of the 1947 edition).
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johnny9434 Posts: 27,694 ✭✭✭✭✭
December 19, 2012 5:39AM
thats a very good read. thanks for sharing best wishes all
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Shamika Posts: 18,761 ✭✭✭✭
December 19, 2012 6:06AM
<< Later in 1930's Richard Yeo was asked to promote a large coin board that Whitman had acquired from an inventor. The boards Whitman produced (and first sold in the Chicago area) were large enough for framing but difficult to store. That prompted Yeoman to work on a new design, and by 1940, had designed a 5.75 by 7.5 inch blue coin folder... >>
Just wanted to include some additional information:
1. The inventor of the coin board (a man who should not be forgotten) was an engineer named Joseph K. Post who marketed his boards under the name Kent Company Coin Card. The invention was a natural extension of his knowledge of paper products (he worked for Kimberly-Clark) and his interest in coin collecting. Within a year, Post became overwhelmed with orders and contacted Whitman for help. Prior to their serendipitous meeting with Mr.Post, Whitman had no footprint in the coin market.
2. Neither Richard Yeoman nor Whitman invented the coin folder. Earlier versions were manufactured by the Daniel Stamp Company (Dansco) and J.Oberwise & Company. However, Whitman should be commended for the mass promotion of the coin board and coin folder.
Buyer and seller of vintage coin boards!
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DeliaBug Posts: 881 ✭
December 19, 2012 6:27AM
<< 
<< Later in 1930's Richard Yeo was asked to promote a large coin board that Whitman had acquired from an inventor. The boards Whitman produced (and first sold in the Chicago area) were large enough for framing but difficult to store. That prompted Yeoman to work on a new design, and by 1940, had designed a 5.75 by 7.5 inch blue coin folder... >>
Just wanted to include some additional information:
1. The inventor of the coin board (a man who should not be forgotten) was an engineer named Joseph K. Post who marketed his boards under the name Kent Company Coin Card. The invention was a natural extension of his knowledge of paper products (he worked for Kimberly-Clark) and his interest in coin collecting. Within a year, Post became overwhelmed with orders and contacted Whitman for help. Prior to their serendipitous meeting with Mr.Post, Whitman had no footprint in the coin market.
2. Neither Richard Yeoman nor Whitman invented the coin folder. Earlier versions were manufactured by the Daniel Stamp Company (Dansco) and J.Oberwise & Company. However, Whitman should be commended for the mass promotion of the coin board and coin folder. >>
For #2, I thought Wayte Raymond was prior to Whitman in the promotion and use of the boards. But I'm not sure.
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Shamika Posts: 18,761 ✭✭✭✭
December 19, 2012 6:49AM
<< For #2, I thought Wayte Raymond was prior to Whitman in the promotion and use of the boards. But I'm not sure. >>
Wayte Raymond sold coin albums (boards in a ringed binder) and not the coin folders. Furthermore, the ringed binders were invented by the Beistle Company. I believe it was sometime around 1928.
EDIT:
Just to clarify, when I say "boards in a ringed binder", don't confuse these with the 11" x 14" coin boards shown in my signature line and in the OP's opening post. The Wayte Raymond boards (and Beistle boards) are more like cardboard pages in which the coins were stored.
Buyer and seller of vintage coin boards!
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WingedLiberty1957 Posts: 2,965 ✭✭✭✭✭
December 19, 2012 6:54AM
Thanks for adding corrections!!!
Especially about the the mintage's not being included. I just checked my book and you are 100% correct, they are listed at the very end of the book. It was such an odd place to post them, that it never occurred to me to look there. Although his mintage's are incomplete. He doesn't list any proof mintage's. I was curious to see what his Matte Proof Lincoln mintage's were (always controversial) but alas they were omitted.
I am glad they moved them to be listed on the same page as the prices as it's awful flipping back and forth.
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Shamika Posts: 18,761 ✭✭✭✭
December 19, 2012 7:02AM
If anyone is interested in learning more about coin boards, you should buy David Lange's book on the subject "Coin Collecting Boards of the 1930's & 1940's". It's a fantastic book and gives the reader insight on the hobby prior to WW2.
Buyer and seller of vintage coin boards!
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WingedLiberty1957 Posts: 2,965 ✭✭✭✭✭
December 19, 2012 7:14AM
<< Just wanted to include some additional information:
2. Neither Richard Yeoman nor Whitman invented the coin folder. Earlier versions were manufactured by the Daniel Stamp Company (Dansco) and J.Oberwise & Company. However, Whitman should be commended for the mass promotion of the coin board and coin folder.
- Shamika
>>
Hello Shamika,
According to the book "The Complete Guide to Lincoln Cents" by David W. Lange, Richard S. Yeo did invent the Whitman Coin Folder. Here is the excerpt ...
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Shamika Posts: 18,761 ✭✭✭✭
December 19, 2012 7:27AM
I have coin folders from Oberwise with copyright dates 1938 and Dansco with copyright dates 1939. These were bifold (2-page) coin folders. Whitman developed a trifold (3-page) coin folders which indeed were slightly more compact than the bifold folders offered by Oberwise and Dansco. Otherwise the idea was the same.
Buyer and seller of vintage coin boards!
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WingedLiberty1957 Posts: 2,965 ✭✭✭✭✭
December 19, 2012 7:41AM
Got it now. Thanks Shamika!
I guess "invent" is kind of a loaded word
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Shamika Posts: 18,761 ✭✭✭✭
December 19, 2012 7:45AM
<< Hello Shamika,
According to the book "The Complete Guide to Lincoln Cents" by David W. Lange, Richard S. Yeo did invent the Whitman Coin Folder. Here is the excerpt ...
>>
This quote dates from 1996. Lange (and others) have researched the topic since and have discovered that many long held beliefs where untrue. Dave (Lange) and I have discussed this topic on many occasions. Whitman and Richard Yeoman are to be commended for all that they have done for the hobby. However, the ideas for coin boards and coin folders were developed by earlier persons/companies.
Buyer and seller of vintage coin boards!
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DeliaBug Posts: 881 ✭
December 19, 2012 7:50AM
<< Early editions of the "Red Book" are collectible. Original copies of the first edition have commanded $1,500 or more on the open market. >>
I would like to add some additional information to this statement in case anyone decides to head off and buy one because there is potential to make a big mistake.
There are two printings of the first edition, and the first printing is the (more) valuable one and there is no indication of which is which. They way to tell the difference is on page 135. The first printing has 'the scarcity of this date' whereas the second printing has 'the scarcity of the 1903 O'. There are also interleaved editions and those have completely blank covers and are twice as thick as the regular edition. Those are very valuable.
And you all thought coins were tough.
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DeliaBug Posts: 881 ✭
December 19, 2012 10:01AM
For a lot of info:
NBS Guide Book page
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MidLifeCrisis Posts: 10,533 ✭✭✭✭✭
December 19, 2012 10:08AM
Interesting and informative thread!
And DeliaBug's post above about first printings, etc., illustrates one of the big reasons why I stopped collecting books years ago.
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bolivarshagnasty Posts: 7,350 ✭✭✭✭✭
December 19, 2012 10:18AM
1909 VDB Matte Proof Lincoln (1947 Redbook $6 in Proof) (2012 Redbook $2,750 in Proof)
>>
Would LOVE to buy the VDB proof for 2750! In fact, I'll take two!!!
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WingedLiberty1957 Posts: 2,965 ✭✭✭✭✭
December 19, 2012 11:22AM
<< 1909 VDB Matte Proof Lincoln (1947 Redbook $6 in Proof) (2012 Redbook $2,750 in Proof)
>>
Would LOVE to buy the VDB proof for 2750! In fact, I'll take two!!! >>
I totally hear you! And feel the exact same way.
I think the Redbook must be talking about PR60 level raw coins
As when you get up to PCGS PR64 stuff you are talking about tens of thousands.
In any case, for my OP, I wanted to compare Redbook market prices to Redbook market prices
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Treashunt Posts: 6,747 ✭✭✭✭✭
September 4, 2018 5:30PM
I don't know how this popped up in my window, but a fun thread
Frank
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dbldie55 Posts: 7,719 ✭✭✭✭✭
September 4, 2018 5:52PM
may be six years late, but still a good read.
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Timbuk3 Posts: 11,658 ✭✭✭✭✭
September 4, 2018 10:08PM
Great historical narrative, thanks for sharing !!!
Timbuk3
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ricko Posts: 98,724 ✭✭✭✭✭
September 5, 2018 6:43AM
This is a good resurrection thread... Neat information on the Redbook, a publication most of us have used for 'most' of our collecting years - up to, and including, the MegaRed...Which I use all the time. Neat history and good for those who would also collect early editions of the Redbook. I keep hoping to find a first edition at a yard or estate sale. Cheers, RickO

1947 Redbook and R. S. Yeoman (2024)

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