Today I received the newest Spink Smythe Bond, Share & Americana Auction. This sale closes on September 9, 2008, so if you want to get a copy of the 116-page catalog, contact Spink Smythe soon.

I counted approximately 579 lots directly related to stocks and bonds. There are another 30 lots of books, newspapers, pamphlets, and peripheral items related to the hobby in greater or lesser degrees.

Of this number, 163 lots are related to railroading. Over half of the rail-related listings are multi-item lots.

As some of you have complained, the paucity of images remains disappointing. Whereas catalogs for Spink's London sales are well-illustrated with photos of many individual certificates, this New York sale catalog has stayed with the practice of illustrating stocks and bonds with overlapping images. While not trying to defend the practice, this might reflect market reality. The cold, hard truth is that prices for collectible stocks and bonds are currently at ten-year (and in many cases 20-year!) lows. Individual illustrations may not be cost-effective. Still, even resorting to partial, overlapped images, there are only 99 photos of certificates.

Hopefully, full images of all lots will be shown when the online catalog becomes available. (The sale is not yet online as of this date.)