Littleton Coin Company
| Littleton Coin Company logo | |
| Company type | Privately held |
|---|---|
| Founded | 1945 |
| Founder | Maynard & Fannie Sundman |
| Headquarters | Littleton, New Hampshire |
Key people |
|
| Products | Coins, Paper Currency, Numismatic Supplies |
| Revenue | $50 million (2017 est.)[1] |
Number of employees | 315 (2017)[1] |
| Website | www |
Littleton Coin Company is a prominent American mail-order and retail business specializing in numismatic collectibles, operating as an employee-owned private firm based in Littleton, New Hampshire. The company primarily deals with United States and international coins, alongside various types of paper currency and ancient coinage. It conducts much of its business through direct mail campaigns, issuing catalogs multiple times annually and offering a "coins-on-approval" service.
Founder's background
Much like numerous firms in the numismatic field, the origins of Littleton Coin Company are closely linked to the life story of its founder. F. Maynard Sundman was born on October 17, 1915, in New Britain, Connecticut, growing up as the sole child on a 3.5-acre farm situated just northeast of that city.[2] His paternal grandparents immigrated to the United States from Sweden and Norway, respectively.[3] His grandfather was employed as a foreman in a lock manufacturing plant, while his grandmother was a dedicated gardener and homemaker.[4] Both grandparents played a significant role during Sundman’s early years.[5]
Around 1927 or 1928, when he was about twelve years old, Sundman developed an interest in stamp collecting after seeing a friend’s collection.[5] He began assembling his own collection by purchasing stamps via mail order from the Herbert A. Kegwin Company in Middletown, New York—one of approximately fifty philatelic dealers operating in the United States at that time.[6] His enthusiasm expanded as he subscribed to Mekeel's Weekly Stamp News, which gradually introduced him to the concept of mail order "approval sales," where customers received multiple groups of stamps to review and select from.[7] Buyers would keep desired items and return the remainder with payment—a system later adopted by Sundman’s own enterprise.
In 1929, Sundman’s fascination with retail selling deepened upon encountering H.E. Harris & Co., a highly successful mail order stamp business founded by Henry Ellis Harris who himself had started collecting at age fourteen.[8] Inspired by Harris's achievements, Sundman aspired to establish himself as a prosperous entrepreneur within the collectibles market.[9]
After graduating from Bristol High School in 1935, Sundman embarked on entering the mail order stamp industry.[10] Having saved $400—a significant amount during the Great Depression—he contacted H.E. Harris directly to request a wholesale catalog.[11] Additional stock was acquired from Held Brothers in New York City.[12] His first advertisement appeared in the August 17, 1935 edition of Stamps Magazine, operating under his own name as the "Maynard Sundman Stamp Company" rather than an anonymous corporate title.[13]
Sundman's initial attempts at approval selling met with success; by July 1936 he secured a $50 credit line from H.E. Harris & Co., marking the start of a longstanding business relationship that would result in transactions totaling millions over four decades.[14] Supported by this expanding credit facility for wholesale stamp procurement, his business experienced rapid growth. By June 1939, at age twenty-three, Sundman managed a company employing four staff members and engaging with approximately 500 new potential clients weekly.[15] The customer base expanded through continuous advertising campaigns placed in widely read publications such as Boys' Life, Popular Mechanics, Popular Science, and comic books.[16]
In April 1941 Sundman married Felicia Dorothy Kasper—known familiarly as "Fannie."[17] The couple remained married for over fifty years and raised children who later participated in the family business.
World War II interrupted Sundman's plans when he was drafted into military service during summer 1941 and required to begin training that September.[18] Faced with this challenge, he made the difficult choice to suspend his stamp business for the war's duration.[19] The valuable customer list was transferred with an agreement entitling Sundman to receive a ten percent commission on sales made to those customers.[19] These commissions helped him pay off much or all of his debt to H.E. Harris & Co.[19]
Establishment
In October 1945, Sundman received an honorable discharge from military service after fulfilling duties as a military policeman stationed in Northern Africa and Italy. Upon returning to New England, he was determined to reestablish himself in the stamp dealing industry. Alongside his wife Fannie, the Sundmans secured a lease for a property in the small community of Littleton, New Hampshire, which became the headquarters for their new enterprise, the Littleton Stamp Company. A key figure in Sundman’s early achievements was H.E. Harris, who granted his 30-year-old protégé unrestricted access to his company’s wholesale stock, initially advancing dealer inventory valued at slightly over $25,000.
The choice of Littleton was influenced partly by its post office, notable for its size and efficiency relative to the town’s population. This infrastructure was deemed crucial by the Sundmans for supporting their planned mail order business. Decades later, the Littleton Stamp and Coin Company would process over two million pieces of mail annually through catalogs, approvals, and customer correspondence.
Operations began in December 1945 with advertising placed in four widely read magazines. The inaugural ad copy was penned by H.E. Harris himself and featured a guarantee promising customers “Double your money back if not delighted!” on a 10-cent packet of airmail stamps. Initial sales in the first month were under $800 but nearly tripled by the third month as the mailing list expanded and repeat customers emerged.
As the Littleton Stamp Company developed, so did the Sundman family with the arrival of three sons: David (born 1948), Frederick "Rick" (born 1950), and Donald "Don" (born 1954). Each son eventually assumed leadership roles within the growing family business; David and Rick focused on numismatics while Don took charge of philatelic operations following the acquisition of Mystic Stamp Company in 1974.
The company’s expansion was supported by the strong personal friendship and business trust between Sundman and H.E. Harris. Harris continued to extend credit even as wholesale inventory balances exceeded $200,000 during the early 1950s. Despite ongoing growth in sales volume and mailing list size, the credit extended by Harris was ultimately repaid in full.
During the initial postwar years when Littleton Stamp was still gaining traction, much of its business centered on sales to children—the so-called "juvenile trade"—a common trend among leading stamp dealers at that time. However, with television’s rise, improved transportation access, and increased participation in team sports, consumer demographics evolved as children found more leisure alternatives.
In response to these changes, Sundman shifted advertising efforts away from magazines targeting young males toward Sunday newspaper supplements with mass circulation. One notably successful promotion offered 10 free Bohemia-Moravia stamps featuring Adolf Hitler; this campaign distributed half a million sets, significantly expanded Littleton’s mailing list, and solidified its status among America’s "Big Five" stamp dealers of that era.
Entry into numismatics
By 1954, the Littleton Stamp Company had expanded to a size employing approximately 60 individuals, with nearly all—about 99%—of its revenue generated from postage stamp sales. Over time, the company recognized the similar interests shared by collectors of coins and banknotes, prompting exploration into the numismatic market. Littleton began cautiously offering coins and currency using the same core approval sales approach that had proven effective in philately, relying on widespread advertising in mass-market publications.
The initial response to these marketing efforts was positive, leading to a strategic decision to broaden numismatic activities. Consequently, later in 1954, the company rebranded as Littleton Stamp & Coin Company to reflect and promote its expanded product range.
Continuing its tradition, Littleton prioritized cultivating new collectors by advertising in a variety of mainstream magazines and newspapers typically overlooked by other collectibles sellers. The company successfully adapted the approval mail-order system—long established in stamp collecting—to coin sales, sending items for customer evaluation with the option to purchase or return them, all without requiring credit card guarantees to secure transactions.
Although this approval method was sometimes met with skepticism by those unfamiliar with it, Littleton reported that the vast majority of recipients honored their agreements, with less than 10% causing difficulties.
Over the years, sales of coins and paper money steadily grew until they matched and eventually surpassed stamp sales by the mid-1970s.
Mystic acquisition
In 1974, Maynard and Fannie Sundman acquired Mystic Stamp Company, a longtime competitor based in Camden, New York. Their youngest son, Don Sundman, was appointed to oversee the newly acquired business. Following this acquisition, all remaining philatelic operations were relocated from Littleton, New Hampshire to New York. Subsequently, the New Hampshire facility concentrated exclusively on coin sales under the new name Littleton Coin Company.
The late 1970s saw a surge in precious metal prices and heightened interest in coins as investment vehicles amid high inflation in the United States. During this period, Littleton Coin Company briefly ventured into the rare coin market to attract investor-collectors through a short-lived division called "Littleton Rare Coins."
However, this move was later viewed as misguided when a downturn in metal prices during the early 1980s caused the coin collecting boom to collapse and many casual investors to exit the market. In response, Littleton refocused on selling affordable collectibles aimed at hobbyists.
David Sundman was appointed President of Littleton Coin Company in 1985.
Current Status of the Company
The company's founder, Maynard Sundman, passed away on October 31, 2007, at the age of 92.
By 2012, Littleton Coin Company had a workforce of around 370 employees based at its Littleton, New Hampshire location. All business activities are conducted within a single facility covering approximately 85,000 square feet.
In 2017, David Sundman, the owner at the time, transferred ownership of the family’s shares to the company’s 315 employees after his children decided not to continue managing the enterprise.
See also
Lua error in mw.title.lua at line 359: bad argument #2 to 'title.new' (unrecognized namespace name 'Portal').
Footnotes
- ↑ 1.0 1.1 Cite error: Invalid
<ref>tag; no text was provided for refs namedSold - ↑ Michael O'Traynor, A Decent Boldness: The Life Achievement of Maynard Sundman at Littleton Stamp and Coin Company. Littleton, NH: Littleton Coin Press. 1995; pg. 15.
- ↑ O'Traynor, A Decent Boldness, pp. 15-16.
- ↑ O'Traynor, A Decent Boldness, pg. 16.
- ↑ 5.0 5.1 O'Traynor, A Decent Boldness, pg. 17.
- ↑ O'Traynor, A Decent Boldness, pp. 17-18.
- ↑ O'Traynor, A Decent Boldness, pg. 18.
- ↑ O'Traynor, A Decent Boldness, pg. 19.
- ↑ O'Traynor, A Decent Boldness, pg. 20.
- ↑ O'Traynor, A Decent Boldness, pg. 24.
- ↑ O'Traynor, A Decent Boldness, pg. 25.
- ↑ O'Traynor, A Decent Boldness, pg. 27.
- ↑ O'Traynor, A Decent Boldness, pp. 28-29.
- ↑ O'Traynor, A Decent Boldness, pg. 31.
- ↑ O'Traynor, A Decent Boldness, pg. 44.
- ↑ O'Traynor, A Decent Boldness, pg. 46.
- ↑ O'Traynor, A Decent Boldness, pg. 57.
- ↑ O'Traynor, A Decent Boldness, pp. 57-58.
- ↑ 19.0 19.1 19.2 O'Traynor, A Decent Boldness, pg. 58.
Further reading
- "Rare Coins Roar Back into Circulation". Daily News (Los Angeles, New York). July 24, 1997. p. N2. (subscription required)
- Tirrell-Wysocki, David. (November 16, 1998). "Littleton Firm Hits Jackpot with Old Coin Cache". Associated Press.
- Franklin, Amy (April 24, 1999). "Old West Coins Emerge from Vault". Wisconsin State Journal. p. 8B. (subscription required)
- Tirrell, David (February 6, 1999). "Hoard of American Coins may bring up to $7 Million". The Buffalo News (Buffalo, NY). Archived from the original on April 9, 2016. Retrieved April 13, 2012. (subscription required)
- Eyle, Alexandra (February 23, 2001). "Childhood hobby now big business". The Business Journal (Central New York). Archived from the original on November 20, 2018. Retrieved April 13, 2012.
- Basch, Marty (November 5, 2006). "The coin is all their realm in Littleton". The Boston Globe. Archived from the original on March 13, 2016. Retrieved April 13, 2012. (subscription required)