Return to Alaska Coin Exchange homepage

Return to ACCent homepage


ACCent: The Monthly Newsletter of the Anchorage Coin Club

ACCent Header


Volume 19, Number 1

January 2006

January Membership Meeting
Wed., January 4th, 2006 Central Lutheran Church

7:15 PM Meeting


A MESSAGE FROM YOUR PRESIDENT

        Another successful numismatic year has come to an end. We are all looking forward to a fun, exciting, and prosperous 2006. I would like to thank everyone for attending the December meeting, Christmas Party, and auction. We had a great turnout with lots of good food and everyone receiving at least one door prize. Many numismatic treasures were given out with special thanks to all that donated. The auction turned out very well and we raised some extra funds for our YN Program.

I would like to thank everybody that donated to the club and participated. It is help like this that will allow the club to continue to thrive and prosper.

Also, a special thanks to our Treasurer, Greg Samorajski, for matching a few of the winning bids during the auction which added some fun and excitement to our holiday event.

For the upcoming year I would like to focus on one of our goals of the club….to increase membership attendance and participation.

Hopefully, we will see as many people as possible at the upcoming January meeting.

Have a Happy New Year. Your friend in numismatics…….Carl.

Anchorage Coin Club Christmas Party / December 8th
Dinner Being Enjoyed by All

ADDITIONAL COMMENTS FROM YOUR EDITORS

The club’s raffle prize, a 1914-D US $2 & ½ dollar gold/ graded MS60/ certified by National Numismatic Certification, was won by Larry Nakata’s wife, Maribel.

Our 2005 Numismatist of the Year was Bill Hamilton. Congratulations go to Bill, who has made it a point to come to our coin club meetings and Board meetings all the way from Ninilchik. That is dedication!!!!

Special thanks really must go to Roy Brown and our president, Carl, for providing the many door prizes that were given out that evening.

Our next club meeting will be on Wednesday, January 4th at the Central Lutheran Church (7:15 PM start).

Your editors also wish all of you a good Holiday season and a great Year 2006……Your Editors.

 

Future YN - Bill Hamilton's Grandson accepting Numismatist of the Year
award for his Grandfather

 
Schedule of Events for the Month of January
  1. Monthly Membership/ YN Meeting:  January 4th (Wednesday evening) at 7:15 PM at the Central Lutheran Church (downstairs meeting area). Larry Nakata will be giving a presentation on “Hawaiian Coinage and Currency”. There will be a bullet auction of no more than 15  numismatic lots. Members, YNs, and general public welcomed. Refreshments provided.
  2. Anchorage Coin Club Board Meeting: January 18th (Wednesday) at 7:00 PM at the New Cauldron Restaurant located at the University Center. Club members welcomed.  

 

Minutes of December 21st Board Meeting

The December 21st Board meeting was a very informal dinner meeting by Board members in attendance.

The only business that was addressed that evening was “cutting of a check” from the club’s gaming account to the Anchorage Coin Club in the amount of $379.85 (moneys from our raffles that goes to the club for it’s various numismatic programs). That check must be deposited in our club’s account by the end of the calendar year.

The remainder of the meeting was enjoyed by all Board members wishing each other a Merry Christmas and good holiday season.

The next Board meeting will be on January 18th, 7 PM, at the New Cauldron Restaurant (located at the University Center). All are welcomed to attend.

Have a great New Year…..Your Board.

 

“UPDATE REPORT- ALASKA COMMEMORATIVE COIN COMMISSION”
from Stan Mead (Member #64)

        The Alaska Commemorative Coin Commission’s website is:

http://www.commerce.state.ak.us/alaska_coin.htm

By the time you get the Anchorage Coin Club’s newsletter in late December or early January (2006), most of you will have already heard the press release for the start of the narrative concepts for the Alaska state quarter.

The discussion of local TV/Radio appearances was discussed. Commissioners and Mrs. Murkowski were all urged to participate in these programs.

The December meeting finalized the dates that the public can start to submit their narrative concepts (January 2nd, 2006 to February 28th, 2006). Those with computers will be able to download the narrative entry forms with the instructions and general information forms from the listed Website. You will be able to fill out the forms on your computers and e-mail them back to the Website. There will be two parts of the narrative entry form: Part “A” is the Design Narrative (what is your design concept) and Part “B” is the Relationship/ Significance of your design in Alaska’s history and cultures (Why). The only change to this section is that both parts are to equal 150 words or less. For example, you can use 71 words in Part “A” and 79 in Part “B” if you so choose.

Those without  computers can call Patricia Swenson at (907)269-8108 or fax her at (907)269-8425 for a copy of the forms which can be mailed or faxed to you. Official entry forms will also be available to be picked up in the offices of the Dept. of Community, Commerce and Economic Development, 550 W. 7th Ave, Suite 1700, Anchorage, AK 99501.

This was short meeting to finalize the last of the few remaining issues. Now the real work begins for the Alaska Commemorative Coin Commissioners. We get to start reviewing the thousands of narrative entry forms that will be sent in….Stan Mead.

 

“CONTEST ENDED”
 by Mike Nourse (Life Member #1)

         The investment contest which started about 20 months ago has now ended and the results are in.

As was announced by Anchorage Coin Club President Carl at the Christmas banquet, the winner of the contest was Larry Nakata.

Larry noticed that key date coinage was on the move and made a big bet that the trend would continue. He focused on some of the most popular key date coins and selected them in very popular and in demand grades ranging from Extra Fine 40 to Mint State 60 condition.

This strategy allowed Larry to pick a portfolio of  seven coins that grew by an amazing 46.2 percent overall. His initial valuation was $9985 in the May 2004 issue of Coin Prices magazine which grew to $14,595 as of the January 2006 issue of the same price guide. Very impressive performance!

 

1937-D Three Legged Buffalo Nickel

Let’s take a look at Larry’s specific coin picks:

1.        Indian Head Cent, 1909-S, in EF-40 condition. A bit of a laggard, only gaining 14 percent during the time period from $500 to $570.

2.        Lincoln Cent, 1909-S VDB in MS-60. Extremely popular but fairly common and readily available. Still it returned a respectable 30 percent, rising from $1150 to $1500.

3.        Another Lincoln Cent, 1955 Doubled Die, in EF-40. About an average performer in the portfolio, rising 43 percent  from an even $1000 to $1425.

4.        Another error, the 1937-D 3 Legged Buffalo Nickel in MS-60. This was a great performer rising 54 percent from $1750 to $2700.

5.        Mercury Dime, the key to the series 1916-D in EF-40. Larry’s biggest winner both in dollar terms and percentage. It rose from $3500 to $6200 in just that short time span for a huge 77 percent increase.

6.        Morgan Dollar, 1881-CC in EF-40. These are more popular in Mint State, hence it only increased by 19 percent from $335to $400.

7.        Peace Dollar, 1934-S in MS-60. The right coin but the wrong series. Peace Dollars are just not popular, making this the only dud in the group with a $50 gain from and initial price of $1750, or just 3 percent.

Well done, Larry! His great investment picks won him a lustrous AU 1951-S Franklin Half Dollar.

 

“R.I.P. SACAGAWEA”
by Mike Nourse (Life Member #1)

         Well, I tried, but now I give up! I went to the bank on a regular basis and bought $100 at a time of Sacagawea dollars and used them instead of dollar bills whenever possible. Over the last few years, I have noticed that the golden dollars I give the clerk at the cash register are the only ones in his or her cash drawer. Looking back 5 years ago or so, there would typically be at least one or two sitting in one corner of the register but that sight is quickly becoming a thing of the past. In all those years, I never received one in change.

Why did the Sacagawea dollar fail? Nobody knows for sure. My guess is that people just are not interested in having any radical changes to our monetary system. It is one of those cases of not wanting to fix something that isn’t broken. I suppose that it does not yet require too many quarters to run a vending machine for people to want an alternative.

Probably part of the reason is also that increasingly money is thought of in terms of flat pieces of plastic with magnetic strips with words like VISA, Master Card, or American Express on them rather than metal discs containing words like Liberty and the cryptic E Pluribus Unum. Even vending machines are taking credit cards now, eliminating one of the great arguments for the need for a new dollar coin. Credit cards offer some pretty enticing rewards for their use, anything from a percentage back to frequent flyer airline mileage. Using cash gives you no reward of any kind.

Should we try again with the dollar coin? Probably not- it has been pretty consistent failure straight on through from the Eisenhower cartwheels of the 1970’s through the Anthony ‘quarters’ and on to the current Sacagawea golden dollars. I kind of think that if the Eisenhower dollar had been issued using the same color and smaller size as the Sacagawea dollar back in 1971, it may have been a success and actually have become an everyday sight in American pockets and purses, but it is too late to change history.

Longer term, I do think that money (coins and currency that is) will become a thing of the past. The transition to plastic cards is well underway and seems to show no signs of slowing down. Keep in mind though that I am thinking this situation will not come to pass for another two to four decades from now, after most of us, myself included, are gone. Even today there are plenty of individuals that I know that rarely use anything other than plastic to pay for almost anything. Credit cards are being issued to younger and younger kids (tied to their parents account of course) so the little darlings don’t think twice about just swiping a card through a reader and the transaction is done.

Will I ever get more Sacagawea dollars from the bank for spending purposes? Maybe, but probably not. I know several Anchorage Coin Club members were also trying to promote their usage in the same way, but I think I am ready to throw in the towel on this one, once I have spent the last few that I have.

However, I am reeeealy looking forward to spending lots of Alaska state quarters in 2008!…..Mike Nourse.

PRICES REALIZED FOR THE FIRST 39 LOTS CHRISTMAS COIN AUCTION

1.       Set of ten (10) Uncirculated Lincoln cents. Various dates 1950-1956. Minimum Bid $1. Price Realized $3.

2.       Set of two (2) Uncirculated rolls of 2005 Oregon state quarters: 2005-P and 2005-D. Donation Item. Price Realized $25.

3.       Complete set of Jefferson Nickels 1938-1964. Circulated to Uncirculated condition. Minimum Bid $75. Pass.

4.        Ancient coin. Roman- Constans/ 337-350 AD/ Siscia Mint. Graded ICG VF25. Minimum Bid $40. Price Realized $40.

5.        U.S. Mint set of 11 medals “Commemorating Battles of the American Revolution”. Minted in 1973 in Original Mint book holder.  Minimum Bid $60. Price Realized $60.

6.       Complete set of Gem BU Lincoln Cents in Dansco Holder 1959-2001. Minimum Bid $40.  Price Realized $60.

7.        Custom framed $1 note. Donation Item. Price Realized $11.

8.        Roll of circulated Lincoln cents. Various dates in the 1940s and 1950s. Donation Item. Price Realized $2.

9.        1943 Silver War Nickel Blank Planchet. Originally purchased in 1991 from J.T. Stanton for $75. Donation Item. Price Realized $30.

10.     1961 Roosevelt Dime. Graded PCGS Pr65. Donation Item. Price Realized $10.

11.     Original U.S. Mint bag of fifteen (15) 1973 P, D, S Lincoln cents. Donation Item. Note: Club member Greg Samorajski will match the winning bid as a further donation to the YN Program. Price Realized $20.

12.     1981 “Redbook”- “A Guide Book of United States Coins- 34th Edition” by R. S.  Yeoman. Donation Item. Price Realized $1.

13.     Set of five (5) Auction Catalogs. Four of the catalogs are from Australia. The last auction catalog from Mexico. Donation Item. Pass.

14.    Set of six (6) Auction Catalogs. Five of the catalogs are from Smythe. The last auction catalog from Ponterio and Associates. Donation Item. Price Realized $1.

15.     Italy, silver, Pope John Paul II, Madonna and child reverse (est. $10). Price Realized $12.

16.     Pope Paul VI, Michelangelo’s LaPieta reverse (est. $6). Price Realized $6.

17.     Proof Washington Quarter 1955 (est. $10). Price Realized $6.

18.     Proof Washington Quarter 1950 (est. $40). Price Realized $26.

19.     Proof Washington Quarter 1940 (est. $140). Price Realized $80.

20.     Peru, 1 Dinero, 1907 FG, silver, Lima mint, Uncirculated (est. $8). Price Realized $8.

21.     Hungary, 1732, Tyrol mint, ¼ Thaler, earliest quarter (est. $50). Price Realized $20.

22.     Sassanian Empire, 591-628 AD, ANACS certified (est. $40). Price Realized $25.

23.     Roman Sestertius, Titus, 80 AD, nice patina, PAX reverse, Sear 851 (est. $30). Price Realized $34.

24.     Store Card Token (R-4) AU.  Minimum Bid $15.  Price Realized $20.

25.     1945-P Mercury Dime (50% bands) BU condition.  Minimum Bid $65. Pass.

26.     1937-D Buffalo Nickel MS-65 condition. Minimum Bid $25. Price Realized $30.

27.     1953 Proof Washington Quarter (DDO) Frosted PF-66 condition.  Minimum Bid $25. Price Realized $40.

28.     1918-D Walking Liberty Half Dollar Fine condition. Minimum Bid $12. Price Realized $12.

29.     1919-P Walking Liberty Half Dollar Good condition. Minimum Bid $10. Price Realized $10.

30.     1942-P Walking Liberty Half Dollar MS-65 condition (Nice!). Minimum Bid $90.  Pass.

31.     1915 $2- ½ Gold AU-55 condition. Minimum Bid $175.  Price Realized $175.

32.     Twenty five (25) New Old 1c postcards (Green Jefferson 1c) NEW. No Minimum Bid. Price Realized $6.

33.    Sherritt Mint “The Nickel Story” with blank, 1972 BU Canadian 5c, piece of webbing and Sherrit Token. All in BU condition.  Minimum Bid $18. Price Realized $38.

34.    Set of four (4) auction catalogs (Year 2005)- Smythe (U.S paper currency), Stack’s (US Gold, Silver, and Copper coins), Smythe (stock and bonds), LaBarre Galleries (stock and bonds). Consolidated with Lot #13. Price Realized $1.

35.     Set of four (4) Year 2006 Blackbooks. Price Realized $25.
·         Official Blackbook Price Guide to US Paper Money
·         Official Blackbook Price Guide to US Coins
·         Official Blackbook Price Guide to World Coins
·         Official Blackbook Price Guide to US Postage Stamps

36.     1885 Morgan Dollar in BU condition.  Minimum Bid $22. Price Realized $24.

37.     1888 Morgan Dollar in BU condition.  Minimum Bid $22. Price Realized $34.

38.     1941 Walking Liberty Half Dollar in BU condition. Minimum Bid $20. Price Realized $20.

39.     1942 Walking Liberty Half Dollar in BU condition. Minimum Bid $20. Price Realized $20.

 Editors Note:  We were unable to get a listing of the final 26 lots that were turned in that evening for the auction.

 


The Anchorage Coin Club

Club Officers

Board of Directors

Editors

Club Archivist/ Photographer

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

Email is coinclub@pobox.alaska.net