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ACCent: The Monthly Newsletter of the Anchorage Coin Club
Membership Meeting 1st Wed. each month, 7 PM, Central Lutheran Church, 15th and Cordova
Vol. 24 No. 2
NEXT MEMBERSHIP MEETING FEBRUARY 2nd
THE AMERICAN ONE DOLLAR BILL
In 2010 the U.S. mint started a program selling five ounce copies of the "America The Beautiful" quarters. These were sold to authorized dealers with strict limits on markup for resale. They were called "America the Beautiful Silver Bullion Coins for Investors"
The coins sold out to those authorized dealers almost immediately and somehow they got around those resale rules. At first nobody seem to be selling them. Now the only place you can find them is among third party resellers and they want over $400 a coin. At $30 an ounce that's $150 in silver bullion.
If you like paying inflated prices for oversized coins check out Russia's five ounce silver 25 ruble coins. They are big and beautiful and have designs that celebrate everything from the world war II victory to the Russian ballet to Alexander Pushkin. And they have similar prices.
Our coins are big and celebrate beautiful places in America. But, in the end, when you go to sell these coins you will be reminded that they are just bullion.
We have a three party system in our club: the gold party, the cash party, and the coin party.
The gold party is made up of traditionalists who believe, as in the beginning, money should be based on something rare and substantial like gold or silver. To them modem coins of common metals are mere tokens and promissory notes are just that - a promise that will, in time, not be worth the paper it is printed on. They tend to long for the days when you could carry a significant amount of money with just a gold coin in your pocket and that zinc cents are the most worthless things to have ever come out of an American mint.
The cash party believes in buying power. The more it could buy the better. Now-a-days a man is cash poor if all he has is a pocket full of coins. A hundred dollar bill is the mark of a true man of cash. Of course long ago a couple cents could buy a meal therefore very old cents have value. But big money is where true value lies. An American thousand dollar bill will always be worth more than a copper coin spent by a peasant in the street even if that copper coin is a Roman sestertius.
The coin party cherishes anything that was struck (coined). Besides all the coins that have ever circulated they have been known to collect everything from hammered English pennies to bus tokens. If it was important enough to have a coin struck than it was history and history is worth hanging onto. Particularly if it ever had buying power a coin is valuable. They can see value in a gaming token from the first Chicago world's fair. A medallion coined for an Anchorage Coin Club anniversary is definitely worth collecting.
The club's elections are coming up in March. We do not have run-off elections and we do not ask you to declare your party affiliations. Some of us still lament the loss of members who left because of their outside affiliations with the liberal card party. We remember the night their candidate stormed out of the room during the election. If you want control over where this club is going you need to become part of the board of officers. If you want some say as to presentations given at meetings or coins put in the raffle put your name in as a candidate.
Last:MEMTRICAMOOVE - COMMEMORATIVE: A coin struck to celebrate a person, place, or event.
The reverse of this year's Native American dollar coin has a pipe being passed to a friendly native. The word treaty under the pipe must mean it's a peace pipe and, no doubt, it's loaded with local tobacco. It is a relatively simple design for such a momentous occasion as a peace treaty with friendly American natives.
There should be an Aleut dollar coin. Captain Cook was important for American history and he could not have survived his visit to Alaska without the help of our friendly natives. We need someone in DC to lobby for an Alaska native dollar coin. This is one of those times when we really feel the loss of Steven's presence in DC.
When Alaska weather is FAIR our coin shows are a GOOD opportunity to upgrade your set as well as a VERY GOOD opportunity to promote a coin business. It is a FINE time to visit with other collectors and a VERY FINE time to sell those EXTRA FINE coins. Though word of our shows remains ALMOST UNCIRCULATED, even heard Mike at the Alaska MINT STATE his surprise at medallion hunters, my set of BRILLIANT UNCIRCULATED red cents dating back to 1935 is PROOF that our shows are worth the time.
The time of our next coin show is the start of Fur Rondy; February 26th and 27th. We will be at the University Center during mall hours on 36th and Old Seward Highway.
If you anxiously waited for gold to drop to the next lower tier in the US mint price table before you bought a Mary Todd Lincoln $ 10 gold piece...
You are probably a numismatist...
And you should belong to the Anchorage Coin Club.
We skipped the door prizes and after a short mention of the upcoming coin show we went into a discussion of what members want to see in this year's club meetings.
Lots of interesting things were suggested. Some wanted to get better at grading, some wanted to be able to spot counterfeits. Errors would be good to learn more about so we could do more cherrypicking. VAMs could be an entire presentation.
Someone wanted to know how to track down the history of a token or a store card. What references were available? Where did a particular civil war token come from, what happened to the store that issued that store card, and is the bus line that issued that token still running?
There were questions about banks that issued broken bank notes and the value of their notes. Alaska tokens also seamed like something we Alaskans should know about.
We promised to look into finding people to give presentations on these subjects and went into the bullet auction. There were 22 lots from local members in the auction. After the auction it was suggested that we might organize a barter night where members could bring in a couple coins, give a short presentation on them, then sell or trade them.
The meeting wrapped up with a reminder that elections are coming up.
Next meeting: February 2nd 7 pm.
Meeting was called to order at 6:35 PM at the New Cauldron Restaurant / University Center.
First order of business was discussion of possible presentations for this year. This matter was brought up at our January 5th membership meeting. Topics of interest brought up were:
• Coin grading- Each Series.
• Civil War and Store tokens.
• Currency grading.
• Counterfeit detection.
Board will look at presentations in these areas in the coming months.
No other old business.
• Treasurer Stan Mead and Secretary Larry Nakata to visit Wells Fargo and make some changes on our coin club's account to save approximately $200/year in banking charges.
• Stan Mead then went over our club's expenditures for Year 2010. Club financial picture good.
• Larry Nakata confirmed club able to get a free listing (for our coin show) as an event in the Fur Rondy booklet that will be coming out. Club able to save $300 since the Anchorage Coin Club is non-profit. Event will be scheduled for Saturday, February 26th and Sunday, February 27th at the University Center. Table fees will be $25/table to pay for cost of additional advertising to promote show.
Club elections coming up at our March 2nd membership meeting. Announced in last month's newsletter. Thus far, the following candidates have agreed to run:
• Tim Burke for club president,
• Larry Nakata for club secretary,
• Stan Mead for club treasurer,
• Robert Hughes for Board member.
Members desiring to serve on the Board should make their intentions known at our club's February 2nd meeting....or contact one of the Board officers. Nominations will be accepted right up to the day of election (March 2nd).
For February 2nd membership meeting, Stan Mead will give a presentation on our U.S. $1 Bill and the significance of the designs on that currency. Everyone is asked to bring a "potluck dish " to this meeting.
John Larson will be bringing our club raffle prizes to the meeting:
• 1886 $1 Silver Certificate- Martha Washington in About Very Fine condition.
• 1892 Liberty Nickel Certified SEGS Pr63.
• 1883-O Morgan Dollar in MS 62/63.
Tickets will be sold at $5/ticket, 5 tickets/$20, 11 tickets/$40. Drawing to be held at our club's summer picnic in July.
As there was no further business to discuss, meeting was adjourned at 7:15 PM....Larry Nakata/ Secretary.
Next meeting February 16th 6:30 pm
POTLUCK BRING FOOD
TO THE NEXT MEETING
THERE WILL BE CORNED BEEF
CITY:________________________ STATE:_______ ZIP:___________
DUES: Regular; Full membership for those living in Anchorage $25
Sponsored membership - first year $15
Senior, Handicap, & Associates outside Anchorage area $10
Junior; those under the age of 17 $5
Life membership $250
Send application and dues to :
Anchorage Coin Club
P.O. Box 230169
Anchorage, Alaska 99523
E-mail Address: email@example.com
ANCHORAGE COIN CLUB
WINNING TICKETS TO BE DRAWN AT OUR
A PROOF LIBERTY NICKEL,
A MARTHA NOTE,
& A SILVER DOLLAR MS 62/63
TICKETS: $5 each or 5 for $20
SECOND AND THIRD PRIZE SAME TICKET
ANCHORAGE COIN CLUB OFFICERS:
President: Tim Burke
Vice President: Carl
Secretary: Larry Nakata
Treasurer: Stan Mead
Board Member: John Larson
Board Member: Robert
ACCent Editor: Loren Lucason
#1 Robert Hall: 479-715-6841
#91 Mike Orr: themoneymerchant.com
#110 Bill Fivaz: e-mail firstname.lastname@example.org
#210 Tom Cederlind: tomcederlind.com