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ACCent: The Monthly Newsletter of the Anchorage Coin Club

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Volume 11, Number 12

December 1998

December Membership Meeting
Thurs., December 10, 1998 Central Lutheran Church

7:30 PM Meeting


 

FROM YOUR EDITORS

Stella! STELLA! You are more than a passenger on "A Streetcar Named Desire." You are a four dollar gold coin pattern. The YNs knew nothing of Stella but were able to find answers to many other "Jeopardy" questions and earned tidy sums of YN Bucks at the November membership meeting.

The meeting began with Carl winning the door prize, a 1986 Mint set and Bill Hamilton winning the membership prize, an 1853 half dime in Fine condition. We were then reminded of the coin show November 21st and 22nd at the Northway Mall sponsored by Mike McKinnon and Christmas Party on December 10th. If Ann Brown has not called you about what to bring to the potluck - call her at Roy's Coins.

After the announcements the "YN Bucks Jeopardy Contest" began. The YNs split into two groups and flipped a coin to decide which team went first. They picked a category and YN Buck amount and were given 15 seconds to answer the question.

1870 Belgian 20 Franc Gold

1870 Belgian 20 Franc Gold

It was an open book test using the Red Book as a reference. The YNs were holding up well to the pressures of being put on the spot. Meanwhile the gallery in the back was whistling the music to the "Jeopardy Game," "Half Cents and Cents" was probably their best category whereas "Odd Type US Coins" gave them some trouble. The game ended with a Final Jeopardy Question worth 35 YN Bucks for which they were given two minutes. The question: "Which early cent had stars between the denticles on the reverse?" One team got the answer right.

The YN Bucks will be used to buy coins in the auction at our Christmas party. We have over 50 lots in the auction so far and will be accepting more lots up until the start of the auction. We will be setting up for the party downstairs at the Central Lutheran Church about 6 PM and starting dinner about 6:30 PM, The auction will start between 7:30 and 8 PM. Hope to see you there so we can wish you a Merry Christmas!

 

MEMBERSHIP NEWS

Schedule of Events for the Month of December:

1. Monthly Membership Meeting/ YN (Young Numismatists) Meeting: December 10th (Thursday) 6:00 PM at the Central Lutheran Church. This will be our club's Christmas Potluck Party. Members, their families, and general public invited. Following dinner, the featured event will be our coin club's Winter Coin Auction. Members wishing to submit coins for the auction can bring them to the meeting.

2. Anchorage Coin Club Board Meeting: December 16th (Wednesday) at 7:00 PM at the Central Lutheran Church. Club members welcomed.

Minutes of the November 18th Board Meeting:

The meeting was called to order at 7 PM.

First order of business was planning of events and items needed for the December 10th Christmas Party / Club Meeting. Ann Brown is presently contacting all club members at this time on potluck items needed for the party. It is estimated that about 50 people will be attending the event.

Larry Nakata announced that there are 32 door prizes available for the event. There will be some very nice prizes given away that evening.

The Board also selected the recipients of the Bill Oaring Award for "Numismatist of the Year" and "YN Numismatist of the Year". Presentations will be made at the December 10th Christmas Party.

John Larsen recommended purchase of three books for the Loussac Library:

• "Standard Catalog of World Coins 1800-1900"

• "Standard Catalog of World Paper Money, Modem Issues"

• "Standard Catalog of U.S. Paper Money"

The Board subsequently approved this purchase. The books to be donated to the Loussac Library.

Final order of business was a review of bills and correspondence. The sum of $295.85 was paid from the club's gaming account to the YN Education Fund. These moneys are profits derived from our club's raffle ticket proceeds. Such profits are required, by state law, to be applied in this manner.

As there was no further business, the meeting adjourned at 7:45 PM.

2nd Place YN Buck Design by Corey Rennell for the Roy Buck

2nd Place YN Buck Design by Corey Rennell for the "Roy Buck"

 

YN CORNER
by Larry Nakata (Member #41)

Editors Note: We got calls from our membership regarding one of the questions used in the YN Bucks Contest. Seems the $6 question in the category of "U.S. Half Cents and Cents" had an incorrect answer. The question: "There were two periods of time when the US half cent was not minted. What were those years when the half cent was not minted?" It was pointed out to us that there were actually more than two periods of time when the half cent was not minted (six times to be exact). Accordingly, the decision has been made to credit both YN teams for the $6 question.

We had a pretty good turnout of YNs for our November 13th meeting. Lots of coins and nice items were given away to the YNs thanks to donations by members Mike Orr and Bill Hamilton.

The YN meeting started with the awards for best design for this year's YN Buck. Congratulations go to YN Nicky Bilak for his YN Buck design, "The Larry Buck" (named after...guess who?!). Second place went to Corey Rennell for his YN Buck design, "The Roy Brown Buck". Third place went to Sarah Bilak for her design of "The Anchorage Coin Club Buck". YNs and adults who attended the meeting voted for the best design.

Mike Orr then gave his presentation "the evolution of the coinage and currency of Israel" The presentation showed how the coinage evolved from the early 20th century (with the establishment of the State of Palestine) until today. Did you know 1998 is the 50th anniversary of the State of Israel?! We can look forward to a follow-up article in next month's newsletter by Mike Orr on this subject.

The YNs also worked on the upcoming display that will be featured at the Loussac Library in January. To those YNs that will be submitting coins and currency for the display, we ask that you bring in those items to the January 8th YN meeting. Member Loren Lucason (who is working with the YNs in putting together this display) wants to put the "wrapping touches" on the project by the January 8th meeting. The goal is to get the display finished and set up at the library's display case by the weekend of January 16-17.

I want to remind all of you YNs that our Christmas Party is coming up on December 10th. To date $219 YN Bucks have been earned by a number of you. I will be mailing your YN Bucks in the coming weeks prior to the Christmas Party. There is still time to earn those "bucks" right up until December 10th. You can still write articles for the club's newsletter on any subject involving coin collecting. Recruiting new members (both adults and YNs) can also earn "bucks".

Keep in mind these YN bucks can only be used to bid on coins at our December 10th Coin Auction. If any of you YNs cannot make the meeting (and have YN bucks), you can do a "mail bid" by contacting me on coin lots of interest. I will place bids for you.

See you at the December 10th Christmas Party/ YN Meeting / Coin Auction........

        Larry Nakata

3rd Place YN Buck Design by Sarah Bilak for the Anchorage Coin Club Buck

3rd Place YN Buck Design by Sarah Bilak for the "Anchorage Coin Club Buck"

 

THE BUFFALO NICKEL MODELS
by Mike Nourse (Life Member #1)

Chief Editor's Note: In last month's newsletter, the main subject covered was US gold coinage. This month's newsletter is a continuation of the subject of gold coins and member Mike Nourse submitted this second article for your enjoyment.....

1882 Italian 20 Lira Gold Obverse

1882 Italian 20 Lira Gold Obverse

SO, now that you have read through last month's newsletter, maybe you wish lo do some more reading on the subject. Luckily there are several good books on this topic. Some of these books are for reference only while others are meant to actually be read from cover to cover.

To start with, there are two basic reference books that have a place in every numismatist's library. First is "A Guide Book to United States Coins" by R. S. Yeoman, also known as the Redbook. In here you will find mintage figures and basic pricing information. The other essential reference book is Walter Breen's "Complete Encyclopedia of United States and Colonial Coins". This large and somewhat expensive book gives mintage information along with comments about rarity and notes significant varieties that are available for each coinage issue.

A fantastic series of books authored by Douglas Winter has aspects of reference works and readable books. This series is divided up by issuing mint with one book dealing with the coinage of each of the mints. Each of the books in the series starts out with historical information about the minting facility and then gives suggestions about the best way to collect the gold coinage of that mint.

The main section of each of the books by Douglas Winter is the date by date analysis in which the author explores such topics as striking characteristics and scarcity. For each coin produced by a particular mint, he gives an estimate of how many pieces remain in existence in four separate grades as well as an overall total number remaining. This is a real eye opener when you see how many of the US gold coin issues are represented by less than 100 pieces!

1882 Italian 20 Lira Gold Reverse

1882 Italian 20 Lira Gold Reverse

Along the same lines as the books by Douglas Winter is a book by David Akers which details every date and mintmark of the twentieth century Indian Head and Saint Gaudens gold coin sets. Once again rarity estimates are given for each coin in several different grades along with an overall rarity rating.

On the subject of author David Akers, it should be noted that he is famous for a series of books detailing the auction records of all US gold coins. There is one book in this series for each denomination, and within each book one can find out how many times in the past a particular date and mintmark has been offered at one of the major auctions of the past several decades. While this is not a perfect measure of rarity, it can give some idea of relative rarity when comparing one coin to another. Alas, this series has been out of print for many years and is presently very tough to locate, and expensive to purchase when it is located.

If you are just looking for a book to sit down with and read, Q. David Bowers has two titles for you to consider. If you are purchasing or considering purchasing US gold coinage, you may wish to pick up a copy of "Buyers Guide to United States Cold Coins". It is a fairly small book and not too expensive. Within its pages you will get advice on how to choose the best gold coin to purchase. You will discover that one gold coin may be 50 times rarer than another yet cost only two or three times as much.

The other volume by Bowers is "United States Gold Coins: An Illustrated History". This is a much larger book than the Buyers Guide and it will set you back quite a few dollars to purchase, but it is well worth it. In here you will read about the history of the establishment of our minis, learn about the various gold rushes that have occurred in North America, and discover just how difficult it would be to build up complete sets of gold coins even if you could afford it. Of the books that I have discussed in this article, this volume ranks tops in terms of pleasurable reading.

If the gold rush era really interests you....you may want to get a copy of Donald Kagin's "Private Cold Coins and Patterns of the United States".

You will read about the Georgia, California, and Colorado gold rushes of the 1800's and the people who turned that gold into useable coinage.

A Few Suggested Titles:

"A Guidebook of U.S. Coins" by R. S. Yeoman

"Complete Encyclopedia of U.S. and Colonial Coins" by Walter Breen

"Charlotte Mint Gold Coins" by Douglas Winter

"Gold Coins of the Old West, The Carson City Mint" by Douglas Winter

"New Orleans Mint Gold Coins" by Douglas Winter

"A Handbook of 20th Century United States Gold Coins 1907-1933" by David Akers

"Buyer's Guide to United States Gold Coins" by Q. David Bowers

"United States Gold Coins: An Illustrated History" by Q, David Bowers

"Private Gold Coins and Patterns of the United States" by Donald Kagin.

1887 Prussian 20 Mark Gold Obverse

1887 Prussian 20 Mark Gold Obverse

 

 

NUMISMATIC GOLD COINS - THERE ARE GOOD DEALS OUT THERE
by Larry Nakata (Member #41)

With gold continuing to remain at the $300 per ounce level, there has got to be some good deals out there. Considering the recent up and down cycles of the stock market and the uncertainty in the state of the world economy.....our coin collections, silver, and gold coins will very likely appreciate in value.

The way I see it. one could collect gold in the following ways:

• You can collect bullion gold coins like many do today. Books tell me that one buys such coins at SPOT PRICE plus (5 to 15%). When you sell such coins, the dealer buys it back at about SPOT PRICE minus 5%.

• You can collect numismatic gold coins. These are gold coins that were minted years ago....and thus have value in terms of the coin's age, rarity, and history.

If you're a coin collector like me, the preference will be towards collecting these numismatic gold coins.

One can collect either US or foreign numismatic gold coins. Two good references on this subject are Yeoman's "A Guide Book of US Coins- 1999" (otherwise known as the "Redbook") and Krause's "1998 World Coins (1901-Present)". The 1999 version of the Redbook based costs of US gold coins at $300 / oz. while Krause's "1998 World Coins" based (heir cost of world gold coins at $378 / oz.

In reviewing both books, I noted that numismatic gold coins fall into the 1/10 oz., 1/4 oz., 1/2 oz., and 1 oz categories. The 19th century gold coins seem to have a higher numismatic value....which is understandable (due to the older age). Where I found good bargains were in the early 20th century gold coins.

The early 20th century US gold coins (1901-1933) tended to command higher prices than their counter-pans in other foreign countries. The Redbook indicates prices for common date gold pieces;

• $2 & 1/2 Liberty or Indian XF $150 Unc $235 - 285 (0.12 oz. gold)

• $5 Liberty or Indian XF $140 - 190 Unc $200 - 325 (0.24 oz. gold)

• $10 Liberty or Indian XF $240 - 375 Unc $300 - 400 (0.48 oz. gold)

• $20 Liberty or St. Gaudens XF $475 Unc $510 - 525 (0.97 oz. gold)

What surprised me was the values of the foreign counterparts.

For example:

Early 20th century Austrian gold coins:

• 10 Corona XF $60 Unc $90 (0.1 oz. gold)

Early 20th century Australian gold coins:

• 1/2 Sovereign XF $70 Unc $100 (O.12oz. gold)

• 1 Sovereign XF $100 Unc $140 (0.24 oz. gold)

Early 20th century French gold coins:

• 10 Francs XF $60 Unc $100 (0.093 oz. gold)

• 20 Francs XF $100 Unc $115 (0.186 oz. gold)

Early 20th century Germany / Prussian gold coins:

• 20 Mark XF $125 Unc $145 (0.23 oz. gold)

Early 20th century British gold coins:

• 1/2 Sovereign XF $70 Unc $100 (0.118oz. gold)

• 1 Sovereign XF Bullion price Unc $130 (0.236 oz. gold)

Early 20th century Dutch gold coins:

• 10 Gulden XF $100 Unc $120 (0.195 oz. gold)

• 1 Ducat (1927-28) Trade coin XF $50 Unc $65 (0.236 oz. gold)

Early 20th century Swiss gold coins:

• 10 Francs XF $75 Unc $100 (0.093 oz. gold)

• 20 Francs XF $80 Unc $95 (0.186 oz. gold)

Early 20th century Mexican gold coins:

• 5 Pesos XF $65 Unc $95 (0.12 oz. gold)

• 10 Pesos XF $130 Unc $160 (0.24 oz. gold)

• 20 Pesos XF $240 Unc $249 (0.48 oz. gold)

• 50 Pesos XF Bullion price Unc $600 (1.21 oz. gold)

Please note that the above values cited by Krause on foreign gold was based upon $378/oz. as the SPOT PRICE. If you factor in a correction factor of 300/378= 0.79, the likely value of these coins should actually be lower. In some instances, such as the early 20th century British sovereign in XF or the Mexican early 20th century 50 pesos in XF....the price will likely be not much different than bullion value.

Also note that the really good values seem to be in the 1/10 oz. to 1/4 oz. categories for foreign numismatic gold coins.

So—there are some good deals out there.

Personally, I like U.S. gold coins and have been trying to put together a nice type set. I'm still working on it.

Others in our coin club prefer foreign coins and should be able to put together some very nice foreign gold type sets thanks to $300 /oz. SPOT PRICES and the low numismatic values of those coins at this time.

1887 Prussian 20 Mark Gold Reverse

1887 Prussian 20 Mark Gold Reverse

Of course there are the modern bullion gold coins and even gold commemorate coins that are minted today by just about every country. I consider these type coins to have little numismatic value.

So, if you are looking for numismatic type gold coins, be sure to use either the Redbook (for US gold coins) or Krause's "World Coins" to help you distinguish between the different types....including those bullion coins.

My prediction is that when gold prices go up, the value of the numismatic gold coins will appreciate much quicker than that of bullion or modem day type commemorative gold coins..........

        Larry Nakata

 

 

December 10th Christmas Auction Lots

Mail bids will be accepted for the December 10th Christmas Auction. MB= Minimum Bid

LOT#

1. 1828 Half Cent EF-40

2. 1883 Shield Nickel MS-63

3. 1906 Liberty V Nickel MS-63

4. 1912-D Liberty V Nickel MS-63 ANACS

5. 1942-D Jefferson Nickel MS-65 Full Steps

6. 1927 Mercury Dime MS-63 Full Bands

7. 1917-D Type 2 Liberty Standing Quarter MS-63 ANACS

8. Indian Cent Coin Board

9. 1931-S Lincoln Cent AU-53 ANACS

10. $5 State Bank Note. The Washington Bank/ Washington DC. H# DC-390-G6 / July, 1853- Good condition. This is the only note issued by this bank,

11. 1834 Half Cent VF

12. 1821 Large Cent G

13. 1857 Flying Eagle Cent F

14. 1910 Lincoln Cent AU

15. 1934-D Lincoln Cent BU

16. Ancient Greek Silver Drachm, Apollonia. 450-400 BC, VF

17. 1875 France /5 franc coin/XF

18. 1917-S Lincoln Cent Fine

19. 1968 Egypt 1 pound / Aswan Dam/AU

20. Small Fortune In a Bottle / Paper/ Some assembly required.

21. 1894 Peru/Un Sot coin/XF

22. Nickel Type Set: Shield Nickel- VF / Liberty Nickel- AU / Buffalo Nickel- BU / Jefferson Nickel- Proof

23. 1857 Flying Eagle Cent Good MB 13

24. 1875 Indian Cent XF MB 60

25. 1909-S Lincoln Cent VG MB 30

26. 1921-S Lincoln Cent XF MB 9

27. 1926-S Lincoln Cent XF MB 6

28. 1939-S Jefferson Nickel MS63 MB 17

29. 1882 Morgan $1 O/S Variety XF MB 16

30. 1902-S Morgan $l XF MB 40

31. 1927-D Peace $1 AU-50/55 ANACS Certificate MB 50

32. $1 Silver Certificate Series I957/Star Note/CU MB 5

33. Partial Set Roosevelt Dimes / BU and Proof Condition/ In Holder MB 47

34. Partial Set Lincoln Cents/ BU and Proof Condition/ 1909-41/ In Holder MB 30

35. Partial Set Washington Quarters/ BU and Proof Condition/ In Holder MB 300

36. Set of Ike Dollars/BU and Proof Condition/Only missing the 1972-S / In Holder MB 130

37. Partial Set of Franklin Halves/BU Condition/In Holder MB210

38. Set of Kennedy Halves/BU and Proof Condition / Complete / In Holder MB 330

39. Partial Set of Jefferson Nickels/ BU and Proof Condition / In Holder MB 60

40. Partial Set of Lincoln Cents/BU and Proof Condition/ 1941-present / MB 130

41. Five (5) Presidential medals: 4 Bronze / 1 Silver from the Medallic Art Company

42 Twenty eight (28) Lincoln cents MS63-MS65 dates from 1941-1950-S. Set is missing the 1944-D and 1946-S Lincolns. MB 25

43. 1964-P Kennedy Half Dollar BU

44. 1964 Kennedy Half Dollar Proof 45 195! Franklin Half Dollar MS-60

46. 1952 Franklin Half Dollar MS-60

47. 1963 Franklin Half Dollar MS-60

48 1892-O Morgan Dollar AU-55

49. 1 roll circulated Indian Cents Good or better

50. 1 roll circulated Buffalo Nickels Good or better

51. 1 roll circulated Liberty Nickels Good or better

52. 1 roll circulated Barber Dimes Good or belter

53. 1 roll circulated Standing Liberty Quarters Good or better

 

 


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-                John Larson       Eves: 276-3292
Treasurer-                      Robert Hall        Eves: 561-8343
Secretary-                   Larry Nakata        Days: 269-5603
                                                                    Eves: 563-1729

Editors -                     Loren Lucason
                                    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

Mike Orr-                         Eves: 522-3679

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