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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. 22  No. 9


MEMBERSHIP MEETING SEPT. 2nd: CC HALF EAGLES


THE PROOF IS IN COPPER

    The 2009 proof Lincoln cents are struck in 95% copper. Thai is the same composition they had in 1909 when they were struck to commemorate Lincoln's hundredth birthday. These cents became the first circulating U.S. coins, with a president on the obverse. This year is Lincoln's two hundredth birth day and there are four Lincoln cent designs going into circulation. The four designs represent four major periods of Abe's life from his boyhood log cabin to the young man as a log splitter to the adult statesman to becoming the leader of our country.

 

2009 Proof Lincoln Cents

 

    Since the middle of 1982 circulating Lincoln cents have been struck in copper coated zinc. This is the first time since 1981 that a proof 95% copper cent has been minted. The mint will sell separate sets of the four proof Lincoln cents for $7.95. The U.S. mint started taking orders for these four coin sets August 26th with scheduled delivery in November.

    The Abraham Lincoln Coin & Chronicles Set will go on sale early this winter. It will include a proof Lincoln commemorative silver dollar with the four proof cents, the price will be $55.95 with delivery in late November but has no orders date yet. There were 50,000 proof Lincoln dollars set aside for these sets. The rest of the Lincoln commemorative dollars have already sold out so if you want one of these sets you will have to watch the mint's web site (USMINT.GOV) for their orders date. This is bound to be a popular set - they may even sell out the first day.

*PCGS graded MS-62 brown 1909-S VDB*
*Lincoln cent recently sold for $1581.00*

2009 Lincoln Medal

 

THE IMPORTANCE OF A COIN BOOK LIBRARY

    If you have been a good American coin collector the only coin reference book you ever needed was the venerable "Red Book". An updated issue has come out every year since 1947. It lists all the regular U.S. types as well as commemorative coins, and some important tokens. It shows you where to find mint marks on coins, tells you mintage numbers, and even gives rough value estimates. Recently "The Coin Digest" started publication. It gives you the same information. For the very latest coin values a monthly price guide magazine is available.

    That will give you alt you need to be a basic collector of U.S. coins. However there is a lot more depth to U.S. coin collecting. For example what happened to the D on the 1922 cent and why isn't my double struck penny valuable. These things and much more can be found in the books you should have in your coin book library. You should have a book that tells you what to look for in a full-head standing liberty quarter. You should have a book that tells you why a BU 1939-D Jefferson nickel is so hard to find and a BU 1950-D has lower mintage but is easy to find. And what is the story behind those 24 Barber dimes dated 1894?

    There are books on almost every specially in U.S. coin collecting and if you collect a particular type of coin you should get the book on it. If you want to collect Alaska Tokens get "Alaska Tokens" by Brown. If you want to collect patterns get Judd's "Pattern coins, Experimental And Trial Pieces". If you want details of U.S. and colonial coins get a copy of Breen's encyclopedia and if you just want an overview of U.S. coinage get a copy of the Coin World Almanac. There are also books on Morgan dollars and Washington quarters as well as coin grading and error coins. And that is just books on American coins. Books that can tell you the difference between the coin in your grandfather's accumulation worth a dollar and the one that's worth a thousand dollars. They can also tell you when you are paying too much for a coin and when a coin is a good buy. Never miss a chance to add a coin book to your library.

    These things apply to coins across the world. In the future I will tell you about books that show you how a dot on a Canadian coin makes a $50 difference and how an IV in the legend tells you the date of a 500 year old German coin. There is depth to the American coins we have here and history to the world of coins out there. Books are the keys.... Loren (member #91)

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MISNUMICAT JUMBLE

ANNIDI _______________

Last: TRISKEER - restrike; a coin officially minted with an earlier design.

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THE INDIAN HEAD CENT

 

By the middle of the 19th Century, the U.S. Large Cent was losing popularity with the U.S. Public.

 

1856 Large Cent

 

    The Large Cent was deemed too large and too heavy to carry around in one's pocket. To make matters worst, the metal content of the Large Cent (composed of 100% copper) had reached a point in 1851 where the cost was $1.06 to make $1.00 in pennies. Faced with this situation, the U.S. Mint began experimenting with pattern cents that were of the size of our present small cent.

    Seeing an opportunity, our US Congress was lobbied by the owners of the nickel mines (in the U.S.) to incorporate nickel as one of the metals used in the small cent. So.... in 1856, the U.S. Mint director, James R. Snowden, decided to mint a small cent consisting of 88% copper and 12% nickel. This came to be known as the Flying Eagle Cent. Only 2000 of these cents were minted as pattern coins because Congressional approval was not given to mint the Flying Eagle Cent until 1857. Accordingly, the 1856 Flying Eagle Cent is considered to be a rare date that commands high prices,

    With the introduction of the 1857 Flying Eagle Cent, the Large Cent became history. The Flying Eagle Cent was to be minted up until 1858 and only lasted several years. No one really knows why it was short-lived, but it is believed that it was difficult to fully strike the Flying Eagle design onto the copper-nickel planchet. The tail feathers are typically weak, even on mint state coins.

 

1857 Flying Eagle Cent

 

    The designer of the Flying Eagle Cent, James Longacre, then redesigned the coin in entirety with the Indian Head. Copper nickel Indian Head Cents continued to be minted up through 1864.

    During the U.S. Civil War, U.S. coinage became scarce as people were hoarding nearly all of the gold and silver, and eventually even the copper-nickel cent. It was during the Civil War we see merchants issuing Civil War bronze tokens to fill the void left by the missing cents.

    Our U.S. Congress subsequently passed the Coinage Act of April 22, 1864 authorizing the metallic content be changed to a bronze coin (95% copper, 5% tin and zinc). The Bronze Indian Head Cents were introduced in 1864 and continued to be minted in this way until the end of the Indian Head Cent series in 1909. It is my view that the U.S. Mint preferred the Bronze metallic coins as they were easier on the dies. The copper-nickel cents were a harder metal.

 

1903 Indian Cent

 

    1909 would be the last year that the Indian Head Cent would be minted. It would give way to the Lincoln Cent which was introduced in 1909 to commemorate the 100th Anniversary of Lincoln's birth.

    During the 53 years that the Flying Eagle and Indian Head Cents were minted, there are some key dates of interest:

At the top of the list is the 1856 Flying Eagle Cent of which only 2000 were minted. In good condition, this coin commands about $6500 (value based upon my browsing of the Internet on current pricing for the lower grades).

The 1864-L which features James Longacre's last name initial. The "L" is located on the ribbon behind the Indian's head. The "L" is also turned sideways.... so one has to turn the coin sideways (90 degrees counter-clockwise) to view the "L". In good condition, this coin commands about $60.

The 1877 Indian Cent. Mintage was 852,500 and commands about $1100 in Good condition.

The 1908-S Indian Cent. Mintage was 1,115,000 and commands about $75 in Good condition.

The 1909-S Indian Cent. Mintage was 309,000 and commands about $650 in Good condition.

    One final fact, all of the Flying Eagle and Indian Head Cents were minted at the Philadelphia Mint from 1856-1907. In 1908 and 1909, Indian Head Cents were also minted in San Francisco..... but were of small mintages, resulting in the 1908-S and 1909-S being key date coins............. Larry Nakata (Life Member #3)

 

MEMBERSHIP MEETING AUG. 5th

    We gave Howard Wright a set of Australian and New Zealand coins for the door prize and John Larson won the brand new 2009 Official Blackbook Price Guide to World Coins for the membership prize.

    Congratulations go to club member Clifford Mishler on becoming ANA president. Stan Mead announced that he will be stepping up to ANA State Representative. John Larson has agreed to serve as our ANA club representative.

    Carl announced that our club's next coin show will be at die University Center October 17th (Saturday) and 18th (Sunday). The use of the University Center will be free to the club. Club will need to supply its own tables for the coin show. Board to discuss details.

We have one more raffle for the year. This raffle will feature two prizes with two chances to win:

Prize #1- 1917 $1 US Note in AU condition.

Prize #2- 1877-S US Trade Dollar in XF40+ condition.

Drawing will be held at our club's Christmas Party event in December. Raffle tickets will be available at our September 2nd club meeting.

First drawing- If the first drawing winner is present at the December Christmas Party... first drawing winner will have choice of prize.

Second drawing- Remaining prize will then go to the winner. Otherwise, the 2nd winner (if present) gets to choose prize.

If neither winner is present at Club's Christmas Party, prizes will be awarded in the order drawn.

Presentation by Larry Nakata on the subject of "Indian Cents".

Bullet coin auction followed. Meeting ended following auction

Next membership meeting September 2nd.

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If you sold your 1967 mustang, the one you spent all summer restoring, because you found a great deal on an 1856 Flying Eagle Cent...

You are probably a numismatist.

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BOARD MEETING JULY 15th

    7:05 PM. Meeting called to order by club president Jack Vinson at New Cauldron Restaurant at the University Center.

    No correspondence to review.

    Board used the meeting to plan the October 17th/18th Coin Show at the University Center. Club presently has 10 tables (8' sized) for the show with 13 cases. Interested members who want tables and cases will be charge $10 / table if they only setup on Saturday (October 17th). If the member stays both days (Sat/Sun).... the table is free. Members can arrange for tables by contacting President Jack Vinson (#338-8350) or Carl (#561-2275). First come, first served.

    Board then discussed the club's Christmas party. Larry Nakata will check availability of the church for the 2nd Thursday in December (December 10th). We're going to go for a Potluck Christinas Party this year. Featured events will be our club's raffle drawing and our Christmas Coin Auction.

    For our September 2nd meeting, Tim Burke will be giving a presentation on "Carson City Mint Gold Half Eagles". For our September 2nd membership meeting, we are asking members to bring potluck dishes for a spaghetti dinner: spaghetti, French bread, salad, and dessert items..... as our evening's refreshment.

As there was no further business to discuss, meeting was adjourned at 7:50 PM... .Larry Nakata/Secretary.

 

COME TO THE NEXT

MEETING AND BRING

POTLUCK FOOD FOR A

SPAGHETTI FEED:

PASTA

PASTA SAUCE GARLIC BREAD

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WE NEED STORAGE SPACE

    The club has ten tables measuring 8' x 10' for members to use at coin shows. We need to store them for now. If they are stood on end they would only take up about six feet by six feet. They are sturdy tables and would need to be secured in place.

    The club is building the set of equipment needed to host coin shows on a regular basis. Carl has made room for the stack of the coin clubs display cases. Loren is working on battery powered LED based lamps for use at shows. We need your help to store these tables.



 

ANCHORAGE COIN CLUB
RAFFLE PRIZE

 

$500 NOTE

WAS WON AT THE PICNIC

Come see the next prizes.
 

tickets: $5/each, 5 tickets/$20, 27 tickets/$100

WINNING TICKET TO BE DRAWN
AT OUR CHRISTMAS DINNER IN DECEMBER


BOARD:

President: Jack Vinson

Vice President: Ed Vey

Secretary: Larry Nakata

Treasurer: Stan Mead

Board Member: John Larson

Board Member: Bill Hamilton

ACCent Editor: Loren Lucason

#91 Mike Orr: themoneymerchant.com

#110 Bill Fivaz: e-mail feev@webtv.net

#210 Tom Cederlind: tomcederlind.com