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ACCent: The Monthly Newsletter of the Anchorage Coin Club

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Membership Meeting 1st Wed. each month, 7 PM, Central Lutheran Church, 15th and Cordova

Vol. 21  No. 5


MAY 7th, 2008: POTLUCK DINNER DOWNSTAIRS - BRING FOOD
PRESENTATION: "U.S. COMMEMORATIVE COINS"


 

MEDALLION DESIGN CONTEST

WIN $500.00

Do not put aside those creative juices you used in your Alaska state quarter design. The 2009 Official Stale Medallion design contest starts now. The winning medallion will be part of a limited series struck in various sizes and in both silver and gold.

The winning design will be chosen by the State of Alaska Arts Council and become property of the state of Alaska. The contest is open to any Alaskan with one year or more of residency. Enter as many times as you like.

2008 Alaska Medallion

2008 Alaska Medallion

Your original artwork should be submitted in the form of an eight inch diameter black and white drawing on white paper. Shading is encouraged to add depth and detail to your design.

Do not sign the artwork. It might influence the judging. Your signature will be added to the design before the medallion is struck. Your design must accommodate the lettering: "ALASKA 2009". Put your name, address, and phone number on the back of your submission(s). Entries can only be returned if you include a self-addressed, stamped envelope. You may also pick up your artwork at 439 W.4th after the contest.

All entries must be dated no later than JUNE 2nd 2008. The winner will receive $500.00 and have their artwork seen around the world. You will become famous. Send entries to:

The Alaska Mint

429 W.4th Avenue

Anchorage, Alaska 99501

(907) 278-8414 or (800) 770-6468

RECESSION KEYS

A recession seems to be a time when the prices stay about the same but there is less money around to spend. To get a more official definition you had to be at our April membership meeting. With less trade going on there is less of a need for coins to use in trade.

In past recessions the Federal Reserve has identified a denomination (or two) that has enough coins in circulation. So they shut down a mint early to save on the cost of minting. This leaves a coin (or two) with a small mintage thus creating a key coin. For those of us who want to complete a set of coins with all the dates and mint marks that key becomes hard to find.

There were times when the economy recovered quickly and those key coins saved by people who knew they had a low mintage. There were also times when those key corns became too valuable in circulation to put away. Examples of this are the 1950-D nickel and the 1916-D dime.

We discussed this at our last membership meeting as well as other things about recession coins. We also viewed a number of key coins struck during recession times.

"Recession is possible, but recession is a technical term... I'm not ready to say whether or not the U.S. economy will face such a situation," Bernanke told the congressional Joint Economic Committee.

When the head of the Federal Reserve starts talking like this it is time for you to watch for a mint shutting down early.

DO NOT MISS OUT

PRE-ORDER DISCOUNT PRICE

ON ANCHORAGE COIN CLUB

TWENTIETH ANNIVERSARY COINS

Offer expires at the June 2nd meeting Bring money.

 

LETTER FROM THE PRESIDENT

First I would like lo thank everyone who showed up at the meeting & especially the senior club members. Because without you there is no coin club.

Things are looking good & we are going to have fun this year. So call me, talk to me- Let's make money and have fun doing it.

If you need help or want to help let someone know.

        Thank you,
            Jack 338-8350

TO MAKE THIS CLUB EVEN BETTER WOULD YOU LIKE:

Your newsletter e-mailed to you YES / NO

A coin show every 4 months YES / NO

To sponsor a new member at a discount for their first year $15 instead of $25 YES / NO

A newsletter mid month YES/NO

A bulletin board for coins you want to buy or sell YES / NO

Have a public coin auction YES/NO

Have a good old fashioned car bashing - we charge people for 3 bashes YES / NO

WHAT CAN YOU DO TO HELP THE COIN CLUB GROW?

 

NEWS FROM THE MINTS

The Alaska Mint has installed a computer controlled die cutter. It is designed to engrave coins as well as cut dies. They will now be able to cut names and inscriptions into coins with style. They will also be able to cut dies in-house thus reducing the cost of custom dies. The machine is suitable for cutting dies for anything from award medals to coins featuring the company logo to trade tokens.

The U.S. Mint will be issuing four commemorative cents in 2009 to celebrate Abraham Lincoln's 200th birthday. The coins will be issued for circulation. The obverse and the metal content will stay the same. Every three months a new reverse design will be released. Themes for the reverses will represent four major periods of Lincoln's life:

*Lincoln's Birth in Kentucky (1809-1816)
*Formative Years in Indiana (1816-1830)
*Professional Life in Illinois (1830-1861)
*Presidency in Washington, DC (1861-1865)


If you are willing to trade ten bright, shiny Mercury dimes for an old, worn one dated 1921...
You are probably a numismatist.

 

MEMBER SELLS COINS AT MEMBERSHIP MEETING

One of our longtime members brought a lens, a price guide, and small box of coins in 2X2's. He got one of the club's display cases out of storage at the church. He set up at a table against the back wall in the room we have our meetings.

The lights against the back wall are quite bright. It was easy to view coins. The coins were duplicates of coins he had in his collection and coins from sets he had upgraded. Most of the coins sold for what he had paid for them.

He was well received and the dealing was done before the meeting and during the breaks. He looks forward to selling coins to friends at future meetings.

 

MISNUMICAT SCRAMBLE

FORNIL ___________

HINT: A medieval coin of this name was made of gold and had a nominal value of three times the twentieth century one. LAST MONTH: TIMGANE - MINTAGE The number of coins minted of that type or date/mintmark.

 

BULLET AUCTION COINS FROM GOOD MEMBER BILL FIVAZ

1) 1943-D 1c PCGS MS-66 (Superb!) $45

2) 1937-D/D 5c RPM #2 NGC MS-66 $95

3) 1831 Bust25cNCSAUCleaned $325

4) 1970-D 25c Struck on 10c stock EF $25

5) 2000-D VA 25c Broadstruck O/C BU $20

6) Set Wartime 5c (11) Some FS BU $75

7) 1882-S $1 PCGS MS-64 $50

8) 1882-CC GSA $1 MS-63 $185

9) 1924 Huguenot 50c NGC MS-64 $165

10) 1963 Red Seal $5.00 CU $10

 

BULLET AUCTION LOT OF THE MONTH

1831 LARGE CENT graded XF

A colorful early American coin from a time when there was a water trough outside for the horse you rode to work. A time when a penny not only weighed something it had buying power.

 

BOARD MINUTES

Minutes of Membership Meeting 4/2/08:

The door prize, an uncirculated Republic of China Coin Set, was won by Jack Vinson. The membership prize, a series 1963 $5 Red Seal United States Note in VG condition, was won by Jim Hill.

The club's raffle coin, an 1857 Seated Liberty Half Dollar in XF condition, was won by Joyce Zorick. The next prize will be raffled off at our club's Summer picnic. The club's summer picnic will be Saturday afternoon, July 12th at the Abbott Loop Community Park on Elmore Road. The key event at the summer picnic will be our YN Donation Numismatic Auction. Donation lots are now being accepted for this auction.

We then discussed the pricing for our club's 20th year commemorative coins. President Jack Vinson recommended the following: Pre-Order Prices:

•Two coin set: (silver and bronze) with display box: $60/set.
•Single silver coin with display box: $40/each.
After the 60 day period has ends (June 2nd):
•Two coin set (silver and bronze) with display box: $75/set.
•Single silver coin with display box: $50/each.

Members can request their member number be put on the edge of their coins. Single nickel coins with a reeded edge in Mylar flips to be available for $10/each. The recommended pricing was approved by members in attendance. Orders can be placed at this time.

Stan Mead gave a briefing on the progress of the ANA contest for National Coin Week, As of our meeting date, our club had not received the contest package from the ANA. Stan hopes to get it shortly in order to effect the contest in time for National Coin Week.

After hearing the news it was decided to send flowers as condolence to the funeral of Branden Samorajski (YN of our Anchorage Coin Club). Branden passed away at the age of 19.

The "Bullet" auction was held. The top coin, an 1801 U.S. Bust Dime in VF condition, sold for $1950. The presentation that followed was on "U.S. Coins of Recession Times". It was an open discussion and there were a number of low mintage "recession times" coins on display.

The meeting ended at 8:45 PM.

Minutes of ACC Board Meeting 4/16/08:

Meeting called to order at 7:22 PM by President Jack Vinson. Location: New Cauldron Restaurant at the University Center. There were no bills or correspondence for review. As of Board meeting, requested (from club members) are:

36 ea. - 2 Coin Sets (Silver/Bronze)
35 ea.- Single Silver coins.
52 ea.- Nickel coins.

Jack Vinson has been calling members on number of sets and coins they wish to order. Members will be required to pay up by no later than June 2nd. After June 2nd, orders will then be placed with The Alaska Mint for mintage of 20th Year club coins and sets. Goal is to get everyone their coins/sets by the time of our club's Summer picnic on July 12th.

Meantime, Carl will look into getting an article posted in "Coin World" and "Numismatic News" about our club's 20th Year Commemorative coins/coin sets.

Newsletter: There will be a questionnaire in the next newsletter for our members to fill out and bring to the next club meeting (or via mail to our club's PO box). Questionnaire centers around things our club members would like to see as future programs for our coin club to address.

Donations for our YN Numismatic Auction are being actively solicited at this time. We have already gotten some donations. Need more. Members can drop off donated lots at Roy's Coins, Carl's, or at our monthly club meetings. Auction to be held on July 12th.... the day of the club's Summer picnic event. Newsletter will ask each club member to sponsor and bring in potential members to our club meetings and events. For a limited time, any new sponsored person who joins the club (as a regular member) will get a special first year rate of $15. Board encourages our club members to help increase the size of our coin club.

Club meeting: May 7th. This will again be a potluck event. Bring a dish. Vice President Ed Vey will be giving a presentation on the subject of "Commemorative Coins".

A number of Board members will be out of town during the last couple of weeks of May. As a result there will be no Board Meeting May 21st

Meeting adjourned at 8:20 PM.