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ACCent: The Monthly Newsletter of the Anchorage Coin Club

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Volume 12, Number 7

July 1999

July Membership Meeting
Sun., July 11, 1999 Central Lutheran Church

7:30 PM Meeting


 

FROM YOUR EDITORS

The June membership meeting started with the president drawing his own name for the door prize. Loren Lucason won a 1987 Proof set. The membership prize, an 1890 Morgan Dollar in AU condition, went to Steve Mead. Then some awards were given out. The ANA president, Anthony Swiatek, had made arrangements for Robert Hall to present Larry Nakata an ANA Presidential Award during the meeting. He had also made arrangements for Larry Nakata to present Robert Hall an ANA Presidential Award. It was a surprise to both of them. It is rare for a single club to have two members receive the ANA Presidential Award in the same year. Editors Note: The only other member of the Anchorage Coin Club to receive the award was former President Roy Brown.

After congratulations were given to Robert and Larry the meeting was dominated by the remainder of the YN Donation Auction. Larry Nakata and Robin Sisler conducted the auction. All total 125 lots were sold and $695.75 was raised for the Young Numismatists Program. Thanks go to all our generous members for donating as well as bidding on these numismatic items.

Reverse Year 2000 US Dollar Coin

Reverse Year 2000 US Dollar Coin

The July membership meeting will be held at the picnic in Kincaid Park on Sunday, July 11th. We will have an expanded bullet auction, the raffle prize drawing for the pre-civil war $5 gold piece, as well as debate and voting on the club motto.

Larry and other volunteers will begin setting up at the Kincaid Park Pavilion around 11 am and the barbecue should be ready around noon. Several events are planned including stunt kite flying, a sack race, and a scavenger hunt. Burgers, hot dogs, hotlinks, chips, sodas, salads, and desserts will be there for your consumption. We hope to see you all there.

The July YN meeting will be the picnic at Kincaid Park on July 11th. There will not be an August YN meeting. Summer is finally here and we want the YNs to enjoy the great outdoors. The September YN meeting will be held at the Westcoast International Inn, McKinley Room, the weekend of September 11th and 12th.... when we hold our club's coin seminar. The YNs can attend free with lunches and refreshments provided. There will be more details in our July and August club newsletters.

We still need a few more people to sign up for the club seminar in September. Those of you thinking of attending.... give it serious thought. A few more would put us over the top of the break-even point. Interested people can sign up with any of our coin dealers or call Larry Nakata in the evenings at 563-1729.

We hope everyone has a wonderful summer and look forward to seeing you at Kincaid Park.... Your Editors.

 

MEMBERSHIP NEWS

Schedule of Events for the Month of July:

1. Monthly Membership Meeting and Summer Picnic: July 11th (Sunday) starting 12 noon and continuing throughout the afternoon at the Kinkaid Park Pavilion. There will be a bullet coin auction. Members wishing to submit coins for the bullet auction can bring them to the picnic. Following lunch, there will be a scavenger hunt planned for our YNs, members, and their families. There will also be other nice events planned for the afternoon. Come enjoy a nice Sunday with us.....

2. YN (Young Numismatists) Meeting: Scheduled for July 11th, the YN meeting will be held at our club's picnic. See you YNs at the Kincaid Park Pavilion.

3. Anchorage Coin Club Board Meeting: July 21st (Wednesday) 7:00 PM at the Central Lutheran Church. Club members welcomed.

Minutes of the June 16th Board Meeting:

The meeting was called to order at 7 PM.

Following a review of correspondence to the club, the Board meeting focused on planning for the July 11th club picnic at the Kincaid Park Pavilion.

Member Ann Brown will be making calls to club members on gelling a headcount of people who will be attending and potluck items mat will be brought to the picnic.

The club will provide the soda pop, chips, hamburger, hotdogs, condiments, cups, plates, and utensils for the event.

Our club president, Loren Lucason, is planning a series of afternoon events for adults and YNs with lots of coins to be given away as prizes. Our raffle prize, an 1847 $5 U.S. gold coin, will be raffled off at the summer picnic. A bullet auction is planned for the picnic. All that is needed is a nice clear, sunny day for all to enjoy that Sunday.

Following the planning session for the picnic, Larry Nakata gave a briefing on the progress of the September seminar. At this time, 22 people have committed to attend the event. We still need one or two more people to sign up in order lo achieve a safety margin on breakeven costs in the event of a cancellation by an attendee. Course books for the seminar have been purchased and shipped to us. All reservations have been made and confirmed. Larry will follow up with letters in August to all attendees on paying up their seminar costs. Overall progress for the seminar is good at this time.

As there was no further business to discuss, the meeting adjourned at 8:15 PM.

 

YN CORNER
by Larry Nakata (Member #41)

It's summertime now and I trust that all of you Young Numismatists (i.e., YNs) are enjoying this time of they year.

Following our usual pizza, chips, and soda pop routine...the June 11th meeting covered the subject of "Collecting U.S. Paper Currency for the YN." We concentrated on the types of paper currency that is affordable to the YN. A good recommendation was made to collect examples of U.S. $1 notes by signature and Federal Reserve Bank. With the coming of the $1 coin next year, I believe it's only a matter of time before the $1 note will go away for good. Here's an opportunity for you YNs.

We then covered the history of U.S. paper money from Continental currency up to the Federal Reserve Notes in use today. Displayed at the meeting was my $1 U.S. Paper Currency Exhibit which all of you have seen at one time or another at our club's coin shows. The YNs also had an opportunity to look at all sorts of examples of U.S. paper currency. We then concluded with a discussion on the care and handling of paper currency in one's collection.

Each YN at the meeting was given a nice U.S. Civil War fractional note to take home for their collection. Thanks go to members Roy Brown and Mike McKinnon for providing those fractional notes.

The winner of the door prize, a 1968 Denver Mint Set, was won by YN Corey Rennell.

With Summer now upon us, we want the YNs to enjoy this time. Accordingly, the July meeting will be the picnic at Kincaid Park on July 11th, and there will be no meeting scheduled for August.

Our membership meeting will also be on July 11th (Sunday) when we have our club's Summer Picnic at the Kincaid Park Pavilion. We will have our regular membership meeting on August 4th; at the Central Lutheran Church...the usual time. I encourage al YNs to attend these meetings.... especially our club's July Summer Picnic.

Club president. Loren Lucason, has some great events planned that day for you YNs. Lots of food to eat and coins to be given away that day. It's intended to be a family event for everyone.

As the summer progresses, I will continue to keep all of you YNs informed of events. So be sure to read "The YN Corner" in the coming months.

See you at our July 11th picnic............

        Larry Nakata.

 

COLLECTING LIBERTY NICKELS
by Mike Nourse (Life Member #1)

Liberty nickels rarely appear in the spotlight. If you omit the many articles written about the fantasy 1913 issue there really is very little written about the Liberty nickels. There are several possible reasons for this. The design is decent but certainly not one of the best in U.S. coinage. There are no great rarities although some dates are quite tough. There are no head turning varieties almost all require magnification to be seen. Also, these nickels have been a fairly poor investment over the last several years.

The last reason mentioned above is the main reason I want to draw attention to Liberty nickels. After several years of steadily decreasing values in uncirculated condition they finally appear to be turning around. Liberty nickels in MS-60 Uncirculated condition first went over $100 each in 1979 and peaked out at over $200 in 1986. A few years later they slid back below the $100 mark and continued to soften throughout the next decade. By last year the bid on MS-60's had dropped to $40, the same value that they had during the early to mid 1970's! Since then they have drifted up a bit to a bid of $45. It is hard to compare the value of the higher uncirculated grades because grading standards have changed over the last 20 years.

1906 Liberty Head Nickel

1906 Liberty Head Nickel

Regular readers of my articles know that I am a big fan of Proof type coinage. When it comes to Liberty nickels, there are only 85,000 Proofs minted for the entire series compared to 104 million business strikes. That's right, there were over 1,000 times as many business strikes produced during the 1883 to 1912 era than proofs.

So what is the price performance for Proof Liberty nickels? The current bid for a common date in Proof-60 is $90, the same as it was back in the mid 1970's. The peak price came in the early 1980's at $250.

Now that we have seen that uncirculated and proof Liberty nickels are available for approximately the same prices as 25 years ago, lets see what would be involved in putting a set together. In the case of an uncirculated set, there would be 33 pieces needed for completion. There are two coins tied for the title of key date in this series: the 1885 and the 1912-S. Even these two coins are readily available for under $1000 in BU condition, even in MS-63.

As for the set in Proof, there are only 31 pieces needed to form the full set as no proofs were made of the 1912-D and 1912-S issues. Of course we are ignoring the impossibly rare 1913 Proof. In the grade of Proof-63, 28 of the 31 pieces needed should cost around $200 or less. Two of them will be in the $200 to $300 range, and the key 1885 will be in the $600 area. This seems amazingly affordable for a set of coins that ranges in age from 87 to 116 years old with mintages from 1,400 to 6,800.

If you decided lo build either the BU or Proof set of Liberty nickels, there remains the question of whether or not to purchase slabbed coins. There is no correct answer here as this is strictly a matter of personal preference for each collector. Raw coins can be placed in attractive capital plastic holder that will both protect the coins and make a nice display. However, slabs do a superb job of protecting the coins entombed within, an important consideration with the very fragile and easily scratched Proofs.

Now that we have seen that BU and Proof Liberty nickels have come way down in price from their peaks 15 years ago, lets take a quick check of the coins in circulated condition. Here there is not much price action at all for the last 25 years. The common dates in Extra Fine have been in the $10 to $15 range since the mid 1970's. While an EF set would be a very attractive display, I think that the BU and Proof coins are better value at this time. Back in the early 1980's, BU common dates cost 8 times as much as an EF while Proofs cost 16 times as much! Today the BU's are only 3 times as expensive as the Extra Fines, and the Proofs are selling for only 6 limes as much.

Nobody knows where the prices are headed from here but it really seems like the Uncirculated and Proof coins are an excellent value today at the same prices they had in the mid 1970's.

Good luck in building a set!.........

                    Mike Nourse.

 

A TIDBIT OF INFORMATION

 

1999 Delaware Quarter Reverse

1999 Delaware Quarter Reverse

That is NOT Paul Revere on the reverse of the first 1999 quarter -the one celebrating Delaware. It is Caesar Rodney, one of three Delaware delegates to the Continental Congress in Philadelphia. When the vote came up to separate from England, Caesar was away tending to his land. The two other delegates were there but one was for independence and one against. Caesar Rodney had to ride hard to get to Philadelphia in time to vote for independence. Delaware became the first state in the union. Caesar Rodney later became the president of the local government of Delaware.........

        Loren Lucason.

 

A PLACE IN HISTORY
by Michael Paoletti (Member #43)

It was sometime in the early 1790's that a girl was born. Born an Indian woman of the Shoshone Tribe, the fate of this woman would shape history in her time and for generations to come. For in this time, she is chosen to be honored by our country... selected by the Secretary of Treasury, its nine member committee and the public, as the figure on the design of the new US one dollar coin. This person is named Sacagawea.

This young lady, who in that era as an Indian and as a woman, could not have an imprint on history or the people who influenced it. Yet historical events brought into her life the opportunity to meet and join a group of explorers mapping an overland route across the Rocky Mountains to the Pacific Coast.

Obverse: Year 2000 US Dollar Coin

Obverse: Year 2000 US Dollar Coin

Early in Sacagawea's life, hardships made their presence. At around the age of 11 or 12, the attacking Mandans Indians carried her away from her Shoshone tribe; a common practice for raiding parties to take the women and children into their tribe. Enslaved for the next few years.

Sacagawea was later sold to a local French-Canadian fur trader, Toussaint Charbonneau. In the winter of 1804-1805 the Lewis and Clark Expedition stayed at Fort Manuel on the Missouri River in the Dakota Territories. Captain Meriweather Lewis and Captain William Clark met the Canadian fur trader and his Indian wife. It was here that Charbonneau was hired as an interpreter on the expedition. Sacagawea, only a teenager at about 15 or 16 years old, gave birth to her first child that February in 1805. The boy, Jean-Baptiste, was only two months old before he and his mother embarked with the Expedition up the Missouri River.

Sacagawea's aid to the expedition was recorded in the writings of the Lewis and Clark journals. She recovered the journals from being lost forever by snatching up the book, as well as saving herself and her child, from the turbulent Missouri River when their raft was overturned. She introduced, unknown to the group, edible plants that provided them a source of continued food on their journey.

With her insight of the land, she pointed the group into the mountain passes and vast unfamiliar landscapes aiding to their success. She guided the expedition to the Shoshone tribe, where she was reunited with her family and people who she has not seen for many years. It was here that she acted as an interpreter and negotiator in gaining a trust between the Lewis and Clark group and the Shoshone tribe... a trust that enabled them to trade and acquire horses for the crossing of the Rocky Mountains just ahead of them. Despite Sacagawea being reunited with her tribe, she chose to continue with the expedition bringing along her child.... guiding them into the area know as the Bitterroots.

In the company of Sacagawea, the Lewis and Clark Expedition suffered no loss of life. L.M. Clark wrote "Sacagawea 'who accompanied you that long dangerous and fatigueing rout to the Pacific Ocean and back disened a greater reward for her attention and services on that rout than we had in our powers to give her [sic].'"

Clark in gratitude took it upon himself to raise and educate her two children, prior to her death at the early age of 25.

It seems only fining that after 200 years we do Sacagawea the honor of displaying her figure and contribution to history with the new one dollar coin......

        Michael Paoletti.

 

 

ALASKAN TOKEN OF THE MONTH
by Roy Brown

Polet stores Nome Alaska Tokens obverse

POLET STORES - Nome, Alaska, Obverses

It was located in Nome, Alaska, a small town in northwest Alaska, with population of 2 or 3 thousand people. When they discovered gold there in 1898, the population jumped to 20 or 30 thousand. Antonio Polet came to Alaska in 1900. About a year later, he entered into a partnership with Frank Aquino. They opened a grocery store on First Street called "Snake River Grocery". The name of "Polet Stores" first appeared around 1915, and was still running thru "Statehood". They used tokens of value - .05 - .10 - .25 - - .50 - 1.00 made of aluminum & fiber. The five cent fiber tokens are Red - ten cent fiber tokens are Green - twenty five cents fiber tokens are Grey - fifty cent tokens were made in aluminum only - one dollar fiber tokens are Green. "Antonio Polet retired in 1946".

Polet stores Nome Alaska Tokens reverse

POLET STORES - Nome, Alaska, Reverses

 

 


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-                    Loren Lucason    Eves: 272-3700
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

Roy Brown-                      Days: 563-6708

Don Thurber-                  Eves: 338-7488

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