This is the second installment of our interview series "Minds of Numismatists." To view the first interview with error coin expert Fred Weinberg, please click the link:
http://www.numismatichub.com/2010/12/interview-with-famed-error-coin-expert.html
Mark Feld is the owner of Mark Feld Rare Coins (http://www.markfeldcoins.com/) Mr. Feld has been involved in the rare coin industry since 1979 and worked as a grader for the Numismatic Guarantee Corporation from 1991-1998. Today, Mr. Feld is a full time dealer, specializing in high quality, rare coins. You can contact Mark Feld at coinguy1@earthlink.net.
Numismatic Hub: Famed numismatist B. Max Mehl was a relative of yours, what kind of impact did this relationship have on your career?
Mark Feld: B. Max Mehl was my grandmother's uncle. Very unfortunately and sadly for me, however, he died when I was only two or three years old. So, I didn't know him. Still, I don't doubt that hearing about him, as I grew up, might have somehow impacted me and my enjoyment in collecting coins.
NH: What is your favorite coin/series?
MF: Those are TOUGH questions! If forced to choose a single, favorite coin, I believe I would select Judd 1776, the unique pattern Double Eagle designed by Augustus St. Gaudens. I think its design is exquisite, and I have had the pleasure of seeing it in person, more than once, over the years. Although you didn't ask, number two on my list would probably be the 1907 Ultra High Relief Double Eagle.
As far as my favorite series, I'll go with classic silver commemoratives. I like the diversity of the designs, the way many of them have toned in beautiful and distinct colors and patterns and the fact that most of them are quite affordable, even in relatively high grade, uncirculated condition. But I like a LOT of series, and if I were to answer that question on a different day, it might be different.
NH: What was it like being a professional coin grader for NGC?
MF: Overall, I greatly enjoyed my work at NGC (where I was a grader from 1991-1998). Some days were exciting, and others, boring, like most other types of jobs. As graders, each of us took our responsibilities very seriously. At times, that caused us to disagree and argue heatedly over what grades to assign to $100 coins, just as we did over $100,000 ones.
I got to see many amazing and incredibly rare coins, many of which, I would never have seen, otherwise. I spent roughly two thirds of my days grading coins and the other third on quality control - checking coins that had been graded and encapsulated, before they got shipped out. I looked for errors on the grading labels, pertaining to dates, mint-marks, designations, denominations, etc. I also looked at each coin to see if it appeared to be graded accurately. If/when I thought coins were graded too low or too high, I would make note of it by putting a sticker on the holder and set it aside. Later, other graders would review them with me or among themselves, in order to decide whether or not to change the grade.
NH: You are one of the most respected dealers in the industry, what's your favorite aspect of the profession?
MF: Thank you for that very kind remark. My favorite part of my profession is finding the right/special coin for a collector-client and hearing and/or seeing how happy he is with it. Although I am a dealer, I was a collector for many years and am still a collector, at heart. I understand and appreciate the many frustrations and joys of collecting. And I love being able to share the latter with coin collectors.
Another aspect of my profession that I greatly enjoy is imparting knowledge to collectors. I like answering questions, reviewing coins, face to face and discussing them with collectors. I taught the advanced grading class at the A.N.A. in Colorado Springs (I think two different times, many years ago), and it was a blast. The students were extremely enthusiastic, eager to learn, asked lots of questions, and even listened to the instructors - very different from many other types of classes!
And of course, I always love looking at great coins.
NH: Can you tell us what you consider to be your most momentous moment in your numismatic career?
MF: I hope this is an acceptable answer, but the big moment for me was before my numismatic career as a dealer even started. Although there were a few pauses and interruptions along the way, I had been a collector from the time that I was about eight years old. I had never given any real thought to become a dealer until one day, during my third year of law school, at which time I was twenty four. I was on the phone with my favorite dealer, and seemingly, out of the blue, he said to me "You know, you should think about getting into the coin business. You'd like it and you'd be good at it.”
When I heard those words, it was as if bells went off in my head. I didn't know if I wanted to practice law or not, anyway. I started thinking about those words from the dealer, kept thinking about them and decided to give the coin business a try. I interviewed with two of the larger, more active and innovative rare coin dealerships - Steve Ivy Rare Coins and New England Rare Coin Galleries (where the dealer I had been on the phone with worked) and each of them made offers to me. I proceeded to finish law school, took and (without studying much, since I knew I wouldn't be practicing law, somehow) passed my bar exam, and just a few days later, started work at Steve Ivy Rare Coins. Steve Ivy later merged with Jim Halperin's New England Rare Coin Galleries, to form Heritage.
NH: Where do you see the future of the numismatic industry heading?
MF: The first thing that comes to mind is the terrible problem with counterfeit coins and counterfeit holders from China. And many of them have made their way to the United States, where they can be seen on EBay, Craig's list, coin shops and coin shows, etc. Many unknowledgeable buyers have spent large amounts of money on coins that are counterfeit, and they don't even know it. And the counterfeiters are getting better. Some of their work can fool those other than beginners in the hobby or business. This problem is only going to get (much, much) worse.
So, as part of the future of the hobby, I see many buyers getting badly “burned.” Along with that, I expect that there will be an eventual, gradual trend towards collectors buying more from well known, expert dealers/sellers, and less from unknown, anonymous sellers over the internet. This should lead to a number of (as some like to call them) "wannabe dealers" exiting the business. I also see buyers becoming more demanding about the quality and originality of the coins they acquire.
NH: What advice do you have for young numismatists looking to enter the coin dealer profession?
MF: My advice would be to think long and hard about that, and strongly consider not doing it. Enjoy your coins and collecting, instead. But, if you are determined to become a dealer, I think the most important thing for you to do is find a mentor who has the expertise, time and willingness to help teach you, and expose you to all types and qualities of coins. Many would-be mentors have one of those attributes but not all of them. But, all of them are necessary.
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