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ACCent: The Monthly Newsletter of the Anchorage Coin Club

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Volume 6, Number 11

November 1993

November Membership Meeting
Wed., November 3, 1993 Central Lutheran Church

7:30 PM Meeting


 

Christmas Potluck Slated For December 9th

Our annual Christmas bash promises to be a busy one. Make a note on your calendars: ACC POTLUCK Dec 9th. This is the second Thursday in December this year. Due to its proximity to the second Friday, Bill D'Atri will hold the YN meeting at the Potluck (I told you it would be busy). Larry Nakata hopes to hold a business meeting (before or after the chow?), and we will hold a one -hundred -lot auction to be conducted by Bill D'Atri (after the chow, I'm sure). Submitters should note only 39 lots have been submitted thus far. We will also raffle off a gold $10 piece, see below for details.

New members are advised that this potluck has been known to be generously appointed so bring a substantial appetite. We collectors like our meals, that's clear enough. Expect a phone call from the organizing committee for a personal invitation (and to determine what to bring).

PRESENTATION PLANNED

Larry Nakata will present a program for the edification of the General Membership at the November Meeting. There's only one catch: Ya gotta attend, else you won't get anything out of it. The topic: Hawaiian Coinage with emphasis on the local/political circumstances surrounding the minting of the coins and later attempts to withdraw them from circulation.

Larry gave me a brief glimpse of the story over lunch a few weeks back and I must say it promises to be a fascinating report. There Larry, the pressure's on now!

YN MEETING CALLED FOR NOV 12

Bill D'Atri reports that the next YN meeting will be held Friday, November 12 at the Church. Show up around 7:00 PM for what Bill says will be a special meeting.

NEW LIFE MEMBER

Carl Mujagic, long-time member and advertiser, and proprietor of Carl's Jewelers has become our 2nd life member. Way to go Carl. We appreciate your support!

NEW MEMBER

Member No. 121 signed up at the last meeting. His name is Jim Hill. If I'd attended the meeting, rather than watch the Braves get beat by the Phillies, I'd have done a short bio. Maybe next time.

WHEELER MAKES BUDGET PRESENTATION

Our club is a healthy one by most measures. We've seen a substantial increase in membership and the club's coffers during the past couple years. Recently, queries have been made as to the amount the coffers contain, and it has been variously asserted that the club may be too rich. Certainly, the richness of the club is a matter of opinion. However, the hard dollar amount taken in and spent by the club is not.

Following is a report compiled by our Treasurer, Paul Wheeler, which projects the club's annual income and expenses:

ANNUAL INCOME

Membership Dues    $1385
Auction Fees    $240
Coin Show Proceeds    $500
Advertising    $240

TOTAL $2365

Dues are based on:

48 Regular Memberships,
14 Associate Memberships, and
9 Junior (YN) Memberships.

Note that 58.56% of the total consists of dues.

One might also note that a modest amount of additional revenue will be taken in by net raffle proceeds, perhaps on the order of $200. A less modest amount might also be expected from future sales of our Commemorative Medallions, although, it has yet to be determined just how liquid (or illiquid) this particular club asset will be. So much for the inflow, now for the outgo:

ANNUAL EXPENSES

Church Rental    $300
Newsletter Publishing    $480
Newsletter Printing    $600
Newsletter Mailing    $522
Subscription to Numismatic News    $26
Mailbox Rental    $93
Contributions to ANA    $50
PNNA Membership    $15
Summer Picnic    $200
Christmas Potluck    $100

TOTAL    $2386

Again, club old-timers will note that other items for which the club has spent money would include the donation of books to the Lousaac Library1, and the subsidizing of YN's education by contributing toward seminars and travel to such.

Paul recommended that the club's fiscal policy be that be one year's operating expenses should maintained in the club account as a buffer. This was moved and approved by the members.

 

1 To my mind, this will be the longest-lived impact our club will make. These books will endure long after the club becomes a memory.

 

Deadbeats Requested to PAY UP

Now that we're on the topic of club income our esteemed Treasurer reports that 18 members are behind in their dues. This notice serves as a KINDLY REMINDER to pay up! That is if you mean to have any involvement at all in the club. I know how it is, ones interest in collecting waxes and wanes. I ought to know, I've collected many things in my short life, some of which my newly wedded sweetheart would just as soon see in the dumpster as in the house. But if continuing membership in one helluva coin club has any interest for you at all, then PAY UP. 'Nuff said.

 

Membership News (continued)

Now that the browbeating has been administered, on with the news.

AUCTION FORMAT DISCUSSED

Members thrashed out some ideas about possible changes for the Auction. Bottom line: keep it the same with one minor accounting change. Lots bought back will cost the seller $1. The one dollar buy back fee will cover up to five lots.

It was also resolved to add one additional, seventh, auction for 1994 which will be a mail bid only auction. The president will shortly commence twisting arms to get a committee formed to set up the rules for this special additional auction.

DOOR PRIZE

Neal Lydick showed up after an all-too-long absence (Howdy, Neal!). As a reward for not being a stranger Neal won the door prize which was a 1992 Mint Set.

RAFFLE PRIZE HELD OVER

The raffle prize was held over to the November meeting due to too few raffle tickets being sold (only 38). The prize is a set of four Compugrade® slabs2 reported to be in the following conditions (all Morgan dollars):

1885-0    MS-60
1887     MS-61
1898-O    MS-61
1921     MS-61

Compugrade® is famous3 for its computer grading machine which, it is claimed, can consistently assign Mint State grades to Morgan Dollars with at precision of one-hundredth of a Mint State grade (for instance, MS-63.45 or MS-66.66). Slabs so graded bear a grade denominated only in tenths (viz. MS-63.4 or MS-66.6) which reflects, I suppose, the inherent modesty of the developers. No need to brag about those hundredths, you know.

Still, imaging getting a lovely cartwheel back with a grade of MS-66.9! Was it MS-66.99 or just MS-66.90, or somewhere in between? It might have driven you nuts! You may have been tempted to crack it out and try again hoping the machine will boot up on the right side of whatever bed computers get up from.

Imagine the conversation one might have with a dealer over buying such a coin!

Imagine a new version of the Bluesheet, with the potential for ten times as many grades and prices as before!4 Call it the CompuSheet®. Think of the potential for incremental pricing: if an MS-62.0 1904-O Morgan Dollar wholesales for $26 and an MS-63 for $35, then does an MS-62.4 go for 29.95? We may never know.

I think we should all buy lots of raffle tickets for this one, though. Compugrade® slabs may turn out to be rarities one day. They're oddities already.

MEMBERSHIP PRIZE

Billy McGinnis continued the long McGinnis tradition of winning a highly disproportionate share of ACC drawings by winning a 1992 Proof Set. Simply Amazing.

MEMBERSHIP INTEREST PRIZE

Canadian Copper Collector Mike Orr won the Membership "Interest Prize which amounted to $5. This quickly became a raffle ticket for the Christmas Potluck Raffle Prize.

CHRISTMAS POTLUCK RAFFLE PRIZE

This year, we got a good one. The prize is a 1907 Eagle ($10 gold piece) of the "No Periods" variety imprisoned within an ANACS slab and graded MS-60 (.3).

This vintage sports the profile of Liberty with an Indian headdress and a Roman nose on the obverse.

The raffle is strictly limited to 100 $5 tickets. Get 'em while they're hot.

 

2 That is. "certified, encapsulated coins".

3 So famous, in fact, that they're apparently out of business, or at least in hiding. Compugrade® was absent from the two most recent issues of Numismatic News and Coin World. They were missing from the Advertiser's Index, but maybe they're cutting costs by running an ad in the classifieds

4 Bill D'Atri referred to the new plethora of Mint State Grades as "101 Damnations".

 

Northway Show Begins Friday, Nov. 12th

Thirty tables will be on display at the Northway Mall Coin Show this year.

This three-day event will feature the usual assortment of numismatic material and other collectibles. At last report 24 tables have already been reserved.

Interested parties should contact Robert Hall evenings at 561-8343. Table fee is $35/each. THE DEADLINE FOR PAYMENT OF FEES IS WEDNESDAY, NOVEMBER 3rd.

 

A Letter From the "Prez"

The month of October has certainly been a busy one. Our October 2nd and 3rd coin show at the Sears Mall went very well. Yours truly manned the club tables and personally had a great time. It was well attended and it was good seeing many of you at the coin show.

The October club meeting was significant in that the key subjects addressed were the club budget and the club's auction format. Our Secretary-Treasurer, Paul Wheeler, gave a very good presentation showing how the club's operating costs was exceeding the amount derived from our membership dues by about $1,000/year. Paul made a very strong case that monies derived from our club's various programs are needed to fund the difference. After some discussion, the membership voted and approved the budget.

The membership also voted to keep the existing bi-monthly auction format intact. The auction format vote also resulted in a decision to expand into a separate Mail Bid Only Auction. In accordance with the wishes of our membership, I will appoint a committee to put together the rules for this mail bid auction. This is something we can look forward to as part of our club's 1994 program.

Our club's Christmas 'Pot-luck" Party has been scheduled for Thursday evening (6:30 p.m.), December 9th at the Central Lutheran Church.

This party is the highlight event of the year for our club. In keeping with our club's tradition, the Christmas Party on December 9th will also be the date of our December club meeting as well as the YN meeting. The party will culminate with our Christmas raffle drawing and Christmas coin auction. Being it's a "Pot-Luck" party, expect a call in November or early December from some of our club members on what you will bring. I will be bringing a nice big ham.

Our October 20th E-board meeting agenda covered the upcoming YN programs over the next few months. Bill D'Atri has quite a November program planned for the YNs. For you YNs out there, the meeting on November 12th (Friday evening) will have some surprises.

The E-board also graded 39 lots of coins for the upcoming December 9th Christmas Auction. There still is plenty of time for club members to submit coins for the December auction. Members interested in submitting coins can do so at our November 3rd club meeting, at the Northway Mall Coin Show (Nov 12-14), and at the November 18th E-board meeting.

Finally, I'll see you at our November 3rd club meeting. I will be giving a talk on the history behind the 1883 Hawaiian coinage. The meeting will also have a short VMS presentation on the ANA 1993 Baltimore Convention highlights. I will also be displaying the coins that will be auctioned at our December Christmas Pot-Luck party.

 

 

Nuthin' To Do with Numismatics
(a.k.a. "Levi's Lode")

IT IS SAID that laughter is good for the spirit (health, soul, etc.) If so, your editor is enjoying spiritous good health lately reading through the Lode. A couple hours good reading, editing and half-dozen-odd belly laughs yielded the fallowing which, as the title suggests, has nothing at all to do with Numismatics. Suffer through it like I did.

"MOOSEMEAT" LOADS FOR BEAR

Homesteader and pig rancher Clifford "Moosemeat" Johnson was known as an eccentric around Anchorage in the 1940s. One day he decided to add a bit of color to his life so he painted his outdoor table with stripes of red, yellow, green and blue. The table did not last long for a marauding bear tore it apart before the paint was dry.

Johnson's luck didn't seem to be getting much better any faster either. The next day he spotted a bear on his property. The bear had one of Johnson's pigs in its mouth and was about to make good its escape. Johnson shot the bear, saved the pig and, on examining the bear, discovered that its paws had residue of red, yellow, green and blue paint.

BANK SITS ON RICH SOIL

On September 15, 1902, a masked bandit entered the Skagway Branch of the Canadian Bank of Commerce and demanded $20,000. To show that he meant business he had a bundle of dynamite sticks in one hand and a revolver in the other. Just as the "transaction" was about to take place, John G. Price, a Skagway attorney, came though the door with $350 to deposit. The bandit became nervous and fired. Whether the shot was intended for a bank employee or Price is not known. The slug hit the dynamite which immediately exploded. The bank employee was blown out the back door and Price was pelted with glass fragments, his $350 blowing all aver the street.

The bandit died in the hospital several hours later.

The bank was wrecked and some $2,800 in gold dust was scattered. The military cordoned off the area and used hoses to wash everything down. Then the top six inches of soil from the area was shoveled up and put in barrels. The barrels were then dragged to a creek where they were sluiced. The panning efforts resulted in the recovery of more than was believed on hand in the bank at the time. John Price recovered all of his bills, not losing a single one.

(As a macabre historical tidbit, the severed head of the bandit was a popular town exhibit for years.)

LEGAL FRAUD

In January of 1990, the Anchorage Police were called to a Laundromat. A customer complained that a slot machine had not paid her any winnings. Since gambling was illegal in Anchorage, the police were very interested.

But the police were in for a surprise. Although the Laundromat advertised that the machine DID pay off, the slot machine was rigged so it would NEVER hit a winning combination. Thus, as the police decided, it was legal to advertise that a machine COULD pay off and then rig the gambling device so that it would NOT pay off.

ANIMAL "RIGHTS" FEEDING FRENZY

In October of 1990, Stolt's Electric in Anchorage sponsored a half-hour program of ALASKA'S FUNNIEST HOME VIDEOS. The second place winner was a clip of two men on snow machines who found a beaver on the top

of a frozen lake. As the beaver tried to dive into its air hole in the ice, one of the men grabbed the beaver by the tail and held it up so that his buddy could video the animal.

The day after ALASKA'S FUNNIEST HOME VIDEO aired, animal rights activists demanded that the man holding the beaver by the tail be prosecuted for harassing a wild animal. Alaska Fish and Game officials complied and a subpoenaed was issued for the video tape as evidence of the crime.

The irony, as it turned out, was that both men had trapping licenses. Had they killed the beaver, they could not have been prosecuted. But because they let it live, they were liable for criminal action.

LIE DOWN AND BE COUNTED

In 1940, Jens Forshaug was responsible for taking the census from Barrow east to Canada. He left by dogsled in March and in April he came upon an unusual circumstance. On the banks of the Sagavanirktok River, near the present site of Prudhoe Bay, he came across John Seiguard.

Unfortunately Seiguard was no longer among the living. He was in his tent, under a sheet of ice. He had either died and then been covered by the rising waters of the river or had drowned in his tent when the river rose. In either case, the waters had frozen solid entombing the man until the next spring.

Forshaug found a calendar in the tent which showed that Seiguard had been alive at least through November. This made him eligible for inclusion as a living resident of the Territory of Alaska for the 1940 census.

 

 

Anchorage Coin Club
MAIL BID AUCTION
to be held
DECEMBER 9, 1993

Disclosures and disclaimers:

Grades are determined at the E-Board meeting: the coins are passed around, the attenders grade them, and when all have been examined the cataloger calls out each coin and the attenders call out their opinion of the grade. Grades are an average of the opinions called. Bidders are reminded that errors do occur and that you own any coin you buy "seen" as is.

Lots purchased through the mail may be returned within seven days of receipt. Comments on condition and appearance are solely those of the Cataloger. Consignors may submit descriptions along with coins which will be published if the Grading Committee agrees the coin merits the description and that it is accurate. Decisions regarding questions and disputes will be made by a three-member Auction Committee whose decisions will be FINAL. Notes: DDO=Double Die Obverse. TDR=Triple Die Reverse. RPD = Repunched Date. FE SL = Flying Eagle Small Letters.

 

Lot Date Denomination Grade
1 Various Semi-Key Lincoln Cents Circulated, 9 pieces
2 1963 Washington Quarter DDO MS-63
3 1941 Washington Quarter TDR AU
4 1939 Walking Liberty Half DDO AU
5 1835 Bust Dime EF
6 1868 Shield Nickel DDO F
7 1868 Shield Nickel RPD F, Corroded
8 1983 Canada Dollar Proof
9 1973 RCMP Canada Dollar Spotted Proof, Toned
10 1974 Canada Dollar Proof
11 1972 Canada Dollar Rainbow Proof, Toned
12 1985 Canada Dollar Proof
13 1987 Canada Dollar Proof
14 1958 Canada Dollar MS-63
15 1877 Trade Dollar F
16 1917 Standing Liberty Quarter, Variety 1 F
17 1888 Seated Liberty Dime F
18 1869 Two Cent Piece VF
19 1858 Flying Eagle Cent Small Letters G
20 1903 Barber Dime VF
21 1906 Liberty Nickel F
22 1911 Liberty Nickel AU
23 Various Medallions BU
24 1960-1964 Washington Quarters Proof
25 1982 George Washington Commemorative Half Dollar Proof
26 1879-S Morgan Dollar EF
27 1880-O Morgan Dollar VF, Polished
28 1882 Morgan Dollar VG
29 1883 Morgan Dollar F
30 1884-O Morgan Dollar VF
31 1889 Morgan Dollar Rainbow XF, Toned
32 1889-O Morgan Dollar VG
33 1890-O Morgan Dollar G
34 1858 Flying Eagle Cent Small Letters G
35 1879-S Morgan Dollar G
36 1913 Barber Dime AU
37 1924 Peace Dollar XF
38 1824 Large Cent G
39 1864 Kennedy Half Dollar BU

 


The Anchorage Coin Club

Club Officers

Board of Directors

Editor

DUES

To save costs, members not responding to renewal notices within 3 months will be considered inactive.

The Anchorage Coin Club is a non-profit organization formed to provide information, education, and a meeting place for individuals having an interest in numismatics.

Correspondence Address: Anchorage Coin Club, P.O. Box 230169, Anchorage, Alaska 99523