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ACCent: The Monthly Newsletter of the Anchorage Coin Club

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Volume 10, Number 12

December 1997

December Membership Meeting
Thurs., December 4, 1997 Central Lutheran Church

7:30 PM Meeting


 

FROM YOUR EDITORS

In several weeks, we're looking forward to seeing all of our club members al the club's December 4th Christmas Party. We want to remind all of our members that the club's regular membership meeting, YN meeting and Christmas Party will be held on the same day....it's our yearly tradition. Member Ann Brown has already made phone calls to our members on attendance and items for the Potluck Christmas party. For those members who were not home when Ann called, you can get in touch with her at Ph# 563-6708. We need to know how many people will attend in order to figure out the quantity of items needed for the party.

Three Cent Nickel Obverse

Three Cent Nickel Obverse

Figure on coming in to the Central Lutheran Church around 6 PM on Thursday, December 4th We figure that dinner will start around 7 PM that evening. Prior to dinner, we'll do the presentations for the announcement of the winner of the club's 10th Year Commemorative Medallion design, the Bill Caring Award for the Club's Numismatist of the Year, the YN of the Year Award, and the formal raffle prize drawing.

Three Cent Nickel Reverse

Three Cent Nickel Reverse

Thursday evening will be your last chance to buy raffle tickets for the 1925 $20 St. Gaudens Gold Coin graded NGC-63. The Chief Editor of the Tampa Bay Coin Club's newsletter, "News N Notes", put it very well in their club's newsletter when he wrote: "All I can say about the Anchorage Coin Club's RAFFLE is whoever wins that prize - a 1925 $20 St. Gaudens Gold Piece NGC-63 Grade... is going to walk away with GRAND prize for the price of a $5 ticket. I'm going to say good luck to you all... BUT there is only one winner, and let it be »»YOU!"

(Editor's Note: We exchange newsletters between clubs...hence the comment).

Throughout the evening lots of door prizes (some 22 of them) will be given out by Santa Claus.

Following dinner, there will be a number of events scheduled for that evening: Our esteemed club member, Bill Fivaz...from Georgia, submitted 12 coin lots and requested they be used for a small Christmas coin auction. In place of the club's bullet auction, these 12 lots will be auctioned. Members interested in bringing in a couple of extra lots for the auction can do so. The lots provided by Bill Fivaz are:

• 1851 Large Cent AU58 (N-1) R-3 1 MB 125

• 1912-D Liberty Nickel AU (semi-key date) MB 65

• 1938-D Nickel MS-67 MB 35

• 1945-S Jefferson Nickel / 5 steps ANACS64 MB 27.50

• 1963 Roosevelt Dime Pr-65/ Doubled die reverse MB 25

• 1997-P Roosevelt Dime BU Cent Variety B' w/ indent MB 12.50

• 1836 Bust Half O-118 (R-4) F MB 37.50

• 1916-S Walking Half (Key date) AG MB 37.50

• 1946-P Walking Half MS-65 MB 65

• 1946-D Walking Half MS-65 MB 50

• 1946-S Walking Half MS-65 MB 65

• 1915 Pan Pacific Half AU MB 120

The balance of the evening's event will also feature a YN contest to test their knowledge of coin collecting and also earn valuable YN Bucks for the upcoming January 7th Coin Auction.

January 7th Coin Auction: Some 69 lots have been submitted thus far for the coin auction. They are listed in this newsletter. Mail bids will be accepted and can be mailed to the club's post office box. Members wishing to submit coin lots for the auction can do so at our club's Dec 4th Christmas Party or bring them into our club's January 7th meeting / coin auction.

Club's 10th Year Medallions:

Shield Nickel Obverse

Shield Nickel Obverse

We have started to receive orders for our club's 10th year medallion sets. Each set (consisting of a bronze & silver medallion) will be numbered with the club

member's number on the edge of the coins. As a result, only current members will be allowed to ordered numbered sets. Club members wishing to order their personal numbered set can fill out the form and bring them to the club meeting (or mail them in).

Have a Great Thanksgiving.

        ......Your Editors.

 

LIST OF COINS SUBMITTED THUSFAR FOR THE JANUARY 7TH COIN AUCTION

LOT #

1. 1986 Silver Eagle BU

2. 1886 Morgan Dollar MS-60

3. 1890 O Morgan Dollar MS-60

4. 1891-CC PL Morgan Dollar MS-60 MB 120

5. 1879-S Morgan Dollar MS-63 MB 23

6. 1922-D Peace Dollar MS-60

7. 1886 Morgan Dollar MS-60

8. 1884 Morgan Dollar MS6-0

9. 1964 Proof Wash. Quarter

10. 1982-D George Washington Commemorative Half MS-65

11. 1987 Silver Eagle Proof

12. 1909-S Lincoln cent VG MB 32

13. 1913 Lincoln cent AU-58 MB 13

14. 1802 Large Cent AG MB 10

15. 1862 Indian Cent XF MB 16

16. 1858 Flying Eagle Cent Small Letters VF MB 26

17. 1870 Indian Cent G MB 27

18. 1923 $1 Silver Certificate Ave Cir MB 18

19. 1923 $1 Silver Certificate Ave Cir MB 18

20. 1976 $2 Federal Reserve Star Note MB 3.50

21. 1976 $2 Federal Reserve Star Note MB 3.50

22. 191? Amer. Bank of Alaska - Fairbanks Note BU MB 16

23. 1969 $1 US Military Payment Currency (MPC) BU MB 15

24. 1923 $1 Silver Certificate Speelman / White BU MB 45

25. 1917 $1 US Legal Tender Note Elliott / White F MB 30

26. 1958 5 Pounds South Africa VF MB 16

27. 1956-67 10 Pounds New Zealand VF+ MB 35

28. 1956-67 1 Pound New Zealand BU MB 25

29. 1917 I Pound Great Britain VF MB 65

30. AD 54-68 Greek Imperial Alexandria Billon Tetradram G/F MB 55

31. 1551-53 Shilling / England / Edward VI F MB 85

32. AD 180-192 Roman Denarius Emp. Commodus G / VF MB 55

33. AD 222-235 Roman Denarius Emp. Severus Alexander VF MB 30

34. 1485-1509 1/2 Groat / England / Henry VII G/F MB 45

35. 1327-77 Groat / England / Edward III VF MB 115

36. 1808 Half Cent VG

37. 1853 Half Cent VG

38. 1800 Large Cent AG

39. 1803 Large Cent G

40. 1810 Large Cent AG

41. 1816 Large Cent VG

42. 1826 Large Cent VG

43. 1841 Large Cent G

44. 1851 Large Cent F

45. 1908-S Indian Cent F

46. 1912-S Liberty Nickel F+

47. 1913 T1 Buffalo Nickel BU

48. 1915 Buffalo Nickel AU

49. 1937 Buffalo Nickel F/VF

50. 1937-D Three Legged Buffalo Nickel F/VF

51. 1883 Hawaii Dime VF / Solder Spot Rev.

52. 1917 T1 Liberty Standing Quarter XF+

53. 1943 Washington Quarter AU

54. 1922 Grant Commemorative Half AU

55. 1876 Liberty Seated Half G

56. 1949-S Franklin Half AU

57. 1890-CC Morgan Dollar VF

58. 1980 Proof Set MB 4

59. 1808 Shipwreck Coin from the East India Co. Admiral Gardner wrecked in Jan 1809 MB 7

60. 1964-D Mint Set MB 4

61. 1964 Kennedy Half Pr-48 MB 3

62. 1957 Franklin Half Pr-48 MB 3

63. Five (5) each assorted medals in BU condition. Medals dated between 1939 & 1985. MB 5

64. 1984 Impaired Proof Set MB 6

65. Three (3) each Savings Bank Dime Holders filled with Roosevelt dimes dated 1965-67. Each an original holder from the Salem Five Savings Bank. Each holder carries $3 worth of dimes. MB 10

66. Book "Alaska's Coinage Through the Years" by Kaye Dethridge & Ken Bressett c. 1965

67. Nine (9) each 1980 US Olympics Sterling Silver Postage Stamps in original holder. Set is missing one stamp. From Franklin Mint. MB 35

68. One (1) each 1885 Morgan Dollar BU in Encased Plastic commemorating the 100th Year anniversary (1985) of the Dr. Pepper Co. Very Unique Item MB 10

69. One (1) bag of assorted Capitol Single Coin Holders. At least 10 holders.

 

MEMBERSHIP NEWS

Schedule of Events for the Month of December

1. Christmas Party / Monthly Membership Meeting / YN (Young Numismatist) Meeting: December 4th (Thursday) at 6 PM, Central Lutheran Church, Downstairs Meeting area. Hope to see you all there......

2. Anchorage Coin Club Board Meeting: There will be no Board meeting scheduled for the month of December. We want to enjoy the holidays....

November 5th Membership Meeting

The Nov. 5th membership meeting was called to order at 7:30 PM.

Two door prizes, a 1980 Mint Set and a 1974 Silver Ike Dollar, were won by Scott Hornal and Robert Hall, respectively.

Two membership prizes, a 1934 Lincoln Cent in Ch BU condition and an Alaska Mint / Northern Lights medallion, were won by members Loren Lucason and Robin Sisler, respectively.

President Roy Brown made a number of announcements on:

• Details of the December 4th Christmas Party,

• The club's 10th year commemorative medallion sets (a reminder to all members to submit their designs by the Nov. 19th Board meeting), and

• The club's January 7th Winter Coin Auction (members encouraged to submit coins for the auction).

Shield Nickel Reverse

Shield Nickel Reverse

Member Scott Hornal gave a preliminary report on the Coin Show Committee's efforts to get the club back on the Coin Show track. Ideas being considered for next year is a coin show at a hotel, such as the Holiday Inn. The coin show committee had their first meeting just prior to the club's Nov. 5th membership meeting. Scott and the other coin show committee members (Mike McKinnon & Robert Hall) will be following up with future meetings to move forward towards a plan.

As there was no further announcements from the membership, the bullet coin auction followed. The following 10 lots made the cut:

• Roman Ancient Bronze Constantius II 354-361 AD

• Roman Ancient Bronze Valeminian II 364-375 AD

• Book "The World Paper Money Book".

• One (1) circulated roll of Lincoln wheat cents / assorted dates.

• 1990 Australia Kookaburra $5 Commemorative BU

• 1891-CC PL Morgan Dollar MS-60

• 1849 Liberty Seated Half Dime MS-60

• 1925 Liberty Standing Quarter VG

• 1897 Barber Quarter VG

• 1922-D Peace Dollar XF/AU

Following a ten minute break, a VMS tape was shown: NOVA presentation on how US paper currency is made with an emphasis on how the manufacturing techniques by the BEP had to change because of sophisticated counterfeiting techniques, A very good tape presentation......

The meeting concluded at 9:00 PM.

Minutes of the November 19th Board Meeting

The Board meeting was called to order at 7PM.

Some 10 submissions were reviewed by the Board for the club's 10th Year Commemorative Medallion set. A winner was chosen and will be announced at the club's Dec. 4th Christmas Party /Club meeting.

Also decided were the recipients of the club's Bill Caring Award for Anchorage Coin Club Numismatist of the Year... and the YN of the Year Award. The names of the recipients will be announced and awards presented at the club's Dec. 4th Christmas Party.

The balance of the evening was spent on details for the club's Dec. 4th Christmas party and items needed for the party.

As there was no further business, the Board meeting concluded at 8:15 PM.

 

YN CORNER
by Larry Nakata (Member #41)

We sure had a great turnout for the Nov. 4th YN meeting. In fact, so many YNs and adults showed up for that event that we had to move the meeting into the church's community meeting hall (where we typically hold our club's regular membership meeting).

The meeting saw YNs earning YN Bucks (for the upcoming January Coin Auction) for two events that were held at the YN meeting:

• Displays of coins (from their collections) and a presentation by the YN on their display, and

• Picking a winner for the design of the YN Buck.

Liberty Head Nickel Obverse

Liberty Head Nickel Obverse

A distinguished panel of three Board members (Robert Hall, Larry Nakata, and Mike Orr) were the judges for the best display/presentation by a YN. All YNs who submitted a display / presentation were awarded YN Bucks based upon the quality of their display & presentation. The top winner of this event was YN Sarah Bilak, who had a great display on 20th Century Type coins from her collection. Other winners were Kento Azegami (for his display on his favorite coins), Nicholas Bilak (for his display on foreign world currency), Cory Rennell (for his display of his favorite coins), Amanda Lenhardt (for her display on US coins from her collection), and Zach Green (for his display on his favorite coins and currency). All the displays showed great effort by all the YNs and they should be commended for the quality of their presentations and displays.

Designs were submitted by five of the YNs for the YN Buck. YN members Corey, Sarah, Amanda, Zach, and Nicky had their designs judged by the YNs in attendance at that meeting. The winner of the YN Buck design was Corey Rennell for his design of a YN Buck patterned after the $1 bill. Corey had an innovative design that used our club's president (Roy Brown) as the figure for the YN Buck. Corey also gave an excellent presentation on how he came to the decisions made on the design of the YN Buck. (Editor's Note: Next month's newsletter should have a pretty good article on the YN Buck design... I think you members will like next month's edition).

To date, some $75 YN Bucks have been awarded to a number of the YNs. There are still more dollars to be awarded. Final YN Bucks will be awarded at the club's December 4th Christmas Party. There are still a number of ways that YNs can earn YN Bucks between now and then.

Liberty Head Nickel Reverse

Liberty Head Nickel Reverse

YN Bucks (between $5 to $10) will be awarded for those YNs who write articles for the club's newsletter. You can write articles on your favorite coins or any subject on coins. YN Bucks are also being awarded for attendance at the meetings (the next one being on Dec. 4th), helping out at the meetings, raffle tickets, recruiting of new club members......and most important, the YN Bucks contest event at our Dec. 4th Christmas Party. Lots of YN Bucks will be given out at that contest event.

I would recommend that you YNs brush up on your "Red Book". Your knowledge of coin collecting will be tested at this contest event. The contest will be patterned similar to Double Jeopardy.

So good luck and we'll see you at the December 4th Christmas Party......

P.S. Remember: Our YN meeting for the month of December will be held on the same day as the December 4th Christmas Party.

 

 

NICKELS / ARE THEY REALLY?
from South Park Coins

FROM YOUR CHIEF EDITOR:

I decided to give our contributing editors a break this month on articles for the club's newsletter. This month's articles come from a variety of other sources (including the Internet) with the theme being "The Nickel". Enjoy......

From South Park Coins October newsletter came this lead in article:

The US five cent coin, most commonly referred to as a "nickel", is a surprising and historically interesting coin. It's origin was the result of s strong lobbying effort by a special interest group. It's use was expected to be temporary, but it still is in use today. It's been associated with scandals and con games. Most interesting, it's primary metal content is not even nickel.

Buffalo Nickel Obverse

Buffalo Nickel Obverse

Well connected nickel mine owner Joseph Wharton had been proposing the use of nickel in coins since 1853. The Civil War led to a severe shortage of small-denomination coins caused largely by the public's hoarding of the silver coins then in circulation. Encouraged by their success in introducing the three-cent nickel coin, Wharton pressured Congress and the Mint. As a result, President Andrew Johnson signed a bill authorizing a five-cent coin to be made of 75% copper and 25% nickel.

Design of the dies for the shield nickel fell to James B. Longacre, and by the end of 1869, the demand for a five-cent denomination was largely fulfilled. The mintages fell from over 16 million in 1869 to less than 5 million in 1870. In 1871 the mintage was even lower at only 561,000 coins.

In 1881, the Director of the Mint asked Charles Barber to make dies for 3 cent and 5 cent coins, to be made from nickel, with a common theme. The denominations were to follow Roman numbering styles, with III representing three, and the letter "V" for five. The obverse was to feature a Liberty Head design.

The first "V" nickel coins did not have the word "cents" in the design, leading to hoarding of the "error" coins. Unscrupulous people also exploited some unsuspecting people by gold plating the "centless" nickels and claiming they were the new $5 gold coins. These new coins were soon called "Racketeer Nickels". At the direction of Mint Superintendent Snow den, new dies were immediately prepared clearly showing the word "Cents".

Today, collectors refer to the two varieties as the With Cents (WC) and No Cents (NC) nickels.

Buffalo Nickel Reverse

Buffalo Nickel Reverse

James Earle Fraser designed the Buffalo or Indian Head nickel, although the reverse actually features an American Bison. The Obverse depicts a realistic composite of three Native-American chiefs. Because the dates on the first coins quickly wore away, Charles Barber modified the design by placing the buffalo on raised ground and later flattened many of the coin's features. This led to 1913 having varieties 1 and 2. In 1916 he once again made design changes, but they did not help much as these coins were often weakly struck. The famous Three-legged Buffalo resulted from excessive grinding of the dies to remove traces of clashed dies.

The Coinage Act of Sept. 21. 1890 permitted design changes only every 25 years. In 1938, a competition was announced to produce designs for the Jefferson Nickel. Felix Schlag was the winner, although his original design was often modified. In 1966 his initials were added below the bust. The strategic importance of nickel during World War II led to the use of silver, copper, and manganese alloy for the nickel. This mixture accommodated the electrical resistance counterfeit-detecting methods used by vending machine companies at the time.......

 

 

SURFING THE INTERNET

The remainder of the articles on the "Nickel" comes from the Internet. ...specifically from a series of "Money Talk" transcripts that your Chief Editor browsed.

From the ANA's WEB page: http://www.money.org

 

THREE CENT PIECES
by Thomas LaMarre

What on earth is a "trime"? Maybe it's "trime" to find out!

A trime is a three cent coin that resembles a dime.

In 1851, Congress reduced...that's right, reduced...the postage rate from five cents to three cents. To make it easier to buy stamps on at time—a common practice back then—Congress authorized production of a silver 3c piece. People who bought entire sheets of 100 stamps could pay for them with ...what else?...a $3 gold piece.

The 3c piece was smaller and thinner than a dime, and was known, unofficially, as the "trime". The head's side of the coin featured a six-pointed star. The tails side had the Roman number for "three", and the letter "C"—for "three cents."

They were supposed to make things convenient, but trimes were easily lost, and were legal tender only in amounts up to 30 cents. During the Civil War. they were hoarded for their silver content, and disappeared from circulation entirely. A copper-nickel 3c piece was released in 1865. The new coin had Miss Liberty on one side, and a wreath and the denomination on the other side.

Production surged at first, then declined sharply—and the last 3c pieces were issued in 1889. Bin the unusual denomination almost made a comeback during the second World War. With demand for pennies at a record high, Congress again authorized production of 3c pieces, to do the work of three pennies.

The authorization to make 3c pieces stayed in effect until after the war, but none were actually produced. Instead, the Mint was able to meet the wartime demand for coins without resorting to production of the odd, but interesting, 3c piece....

        Transcript No. 1119 / Jan. 16, 1997.

 

THE "V" NICKEL
by Gerald Tebben

Was it fraud or an honest mistake? One man who knew for sure wasn't talking.

In 1883, the government introduced a new five-cent piece. The coins had a portrait of Miss Liberty on the front and a big "V", the Roman numeral five, on the back. Beyond (he "V", there was no statement of value. The 5 cent coin was roughly the same size as the $5 gold piece. It didn't say "V Cents" or even "Cents"...it just said "V".

At a time when $5 was a week's wage for a working man, sharpies quickly exploited the opportunity for profit. They gold plated nickels - turning them into ersatz, but believable, $5 gold pieces. The altered coins were used in payment for penny or two-penny purchases. Clerks were fooled by the coin's color, and often gave change for a $5 coin, instead of a 5 cent coin.

Was it fraud...or was it simply a clerk's mistake at making change? At least one racketeer went so far as to employ a deaf-mute named Josh Tatum to pass his booty—so that his victims couldn't testify that he ever "called" them gold coins.

Jefferson Nickel Obverse

Jefferson Nickel Obverse

The practice of gold plating nickels became so common that the government was forced by mid-year to change the coin's design. The words "five cents" were added to the back, below the big Roman numeral five. The government moved quickly, but not before some 5 & 1/2 million "no cents" nickels had been produced.

Americans who believed the error coins would be withdrawn from circulation hoarded the "no cent" nickels. The withdrawal never happened, though—and today, 1883 "No Cent" nickels are among the most common 19th century coins in existence...Transcript No. 1253/ July 23,1997.

 

 

THE 1913 LIBERTY HEAD NICKEL
by Thomas LaMarre

Good news. Somewhere out there a 1913 nickel just may be waiting to be discovered. Not just any 1913 nickel, but a 1913 Liberty Head nickel, worth a million dollars or more.

Strangely enough, there shouldn't even have been a 1913 Liberty Head nickel. The superintendent of the Philadelphia Mint reported that production of Liberty Head nickels ended in 1912 and there's no record of any having been made in 1913.

But at least five of the coins were struck, probably in December of 1912, from dies that were made in case the new Buffalo nickel design wasn't approved in time. And it all happened despite the Mint

Director's instructions to "do nothing about five-cent coinage" until the new design was ready.

Jefferson Nickel Reverse

Jefferson Nickel Reverse

Who disobeyed the order? Circumstantial evidence points to Sam Brown, a clerk at the Philadelphia Mint. Brown exhibited one of the 1913 Liberty Head nickels at a coin show in 1920, and later sold all five. A rich playboy, Colonel Edward Green, eventually bought them... and offered to pay $10,000 for any more that turned up. Texas coin dealer Max Mehl wasn't so generous - in the 1930s he offered $50 apiece for any new 1913 Liberty Head nickels that people could find. Mehl, who fully knew there was no more coins anywhere, claimed that his million-dollar advertising campaign made him, and the coins, world famous.

The nickels went their separate ways after Green's death. One of them may have been last seen with coin dealer George Walton, who was murdered in the 1960s. A few years ago, a $10,000 reward was offered to anyone who found the nickel. But its whereabouts remain a mystery...

        Transcript No. 1335 / Nov. 14, 1997.

 

 


The Anchorage Coin Club
 

Meetings:       Membership meeting - First Wednesday of the month, 7:30 PM
                        E-Board meeting - Third Wednesday of the month, 7:00 PM
                        Meetings held at the Central Lutheran Church, at the corner of 15th and Cordova

 

Club Officers

President-                    Roy Brown          Days: 563-6708
                                                                    Eves: 243-5732
V. President-                Mike Orr            Eves: 522-3679
Treasurer-                      Robert Hall        Eves: 561-8343
Secretary-                   Larry Nakata        Days: 269-5603
                                                                    Eves: 563-1729

Editors -                     Loren Lucason    Eves: 272-3700
                                    Larry Nakata
                                    Robin Sisler
                                    Mike Nourse
                                    Jim Susky
Club Archivist / Photographer - Robin Sisler

Board of Directors

Ann Brown-                      Days: 563-6708

Bruce Gamble-               Eves: 345-6273

John Larson-                    Eves: 276-3292

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