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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

January 2012

Vol. 25  No. 1



NEXT MEMBERSHIP MEETING: JANUARY 4th
Early 20th Century U. S. Coinage


The Dime

    The silver dime is the great grandson of the coin that made clean markets (free of pigs and cows) possible in cities two and a half thousand years ago. Called dram in the beginning it was spelled drachm by translators but is still pronounced dram. Drachm (dram) as well as denarius denier and dinero, ancient kindred of the dime, provided power and means for business among civilized people.

 

 

    Ancient Greeks went to the market with this power. We proudly display our collections of Greek tetradrachms but they are big chunks of silver once used like trade dollars. It was the small dram, grandfather of the dime, taken to the market to buy daily goods. The big Roman copper sestertius had a portrait of the Caesar on the obverse and an announcement of victory or a god embodying the state of the empire on the reverse. They were not convenient to carry. It was the silver denarius, grandmother of the dime, spent at the market.

 

 

    As the western world fell into the dark ages eastern markets still thrived. There the silver was diluted. The drachm was rolled out to a large thin coin called dirham.

 

 

It became no longer the convenient silver dime.

    The far east did not use dimes. In Europe the power of the dime had been lost and the few rich people traded in thin, debased gold coins.

    Money for peasants slowly grew with imports through Venice and Norman raids in other countries. Then the silver dime was resurrected as the Christian hammered English penny and its brothers the French denier and Spanish dinero.

 

 

    With the silver found in Joachimsthal the western world dime regained power. It was then that the great silver coin called thaler (taler), father of the dollar, was struck. But the heavy coin was not taken to the market. It was kept as a family treasure to be passed on. Thin dime sized coins were used at the market to buy the necessities of life.

    When riches in America were discovered by Europeans they celebrated with the eight bit reale. People quickly learned to cut the big coin to the size of dimes. We still celebrate our riches. Coins two and a half times the dime are used to commemorate founding of our states and most recently establishment of parks and reservations. We have been so rich as to send men to the moon and commemorate the event with fancy quarters, big halves and giant dollar coins. Nobody uses oversized halves and dollars anymore.

    With age a durable coating forms on the surface of silver coins. Being our smallest coin a dime is convenient to carry. The current value of silver gives the silver dime three dollars of buying power. In the very beginning the purpose of coins was to have a durable, convenient means of taking buying power to the market. If it was not for silver value volatility the silver dime would be the epitome of coinage.

 

 

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If you were happy to pay $152 for a used Barber key that had never opened a lock ...

You are probably a numismatist...

And you should belong to the Anchorage Coin Club.

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December 8th Anchorage Coin Club
Christmas Party

 

Event started at about 6 PM. Potluck dinner shortly after. Good turnout.

Greetings by club President Tim Burke.

Shortly after dinner, door prizes were given away. There were enough door prizes for everyone at the event.

Raffle prizes were then drawn. Winners:

1910-D U.S. $10 Gold (Indian) in MS60 condition won by Larry Nakata.

1934 U.S. $10 Silver Certificate Note in PCGS PQ UNC-64 condition won by Joyce Zorick.

1879-P U.S. Morgan Dollar NGC MS-62 won by Maribel Nakata.

Christmas coin auction rounded out the evening's event.

 

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MISNUMICAT JUMBLE

FUBLOAF__________________

Last: UCCERNRY - Currency, the paper money now in use.

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December 21st Board Meeting

    Meeting called to order at 6:30 PM by club Secretary Larry Nakata at the New Cauldron Restaurant/ University Center.

    Following a review of correspondence, discussion on the 2012 raffle coins chosen and purchased at the Anchorage Coin Club Coin Show on Saturday afternoon (December 17th). About 16 club members voted on the following coins:

For our club's first raffle for 2012, Board decided to move forward with the following items with the drawing to be held at our club's Summer picnic event:

1. First Prize: 1906 $2 1/2 U.S. Gold Liberty ANACS AU 58 certified.

2. Second Prize: 1880 $20 Legal Tender U.S. Note PMG F15 condition certified.

3. Third Prize: 1883 Hawaii (King Kalakaua) Half Dollar in VF+ condition.

    The final coin (a 1926 $2 1/2 U.S. Gold Indian PCGS certified AU 58) will be used for our club's second Raffle Prize drawing to be held at our club's 2012 Christmas party event.

    The Fur Rondy Coin Show was then addressed by the Board: Larry Nakata has already put in paperwork for a club coin show listing in the 2012 Fur Rondy Guide that will come out in February. Club was able to qualify for a free listing because of the club's nonprofit status. This saved the club a $300 listing fee. Board will then use the $300 to place an ad in the 2012

    Fur Rondy Guide. Larry Nakata is awaiting word from the Fur Rondy person responsible for the guide as to how big an ad can be placed and what is needed to place that ad. Event will be advertised to be held on the two weekends of the Fur Rondy Event (Sat Feb 26th 10am - 6pm / Sun Feb 27th 11am - 5pm and Sat March 3rd 10am - 6pm / Sun March 4th 11am - 5pm) at the University Center. Cost of a table was decided at $10/ table per weekend.

    March club officer elections are coming up. President Tim Burke is coming to the end of his second consecutive term as club president. Under club's bylaws, Tim can not serve a 3rd consecutive term as president. Club will accordingly be looking for a new president. Announcement of the upcoming March elections to be posted in the club newsletter.

Discussion by Board on Roy Brown Memorial Fund.

    At the November meeting, President Tim Burke brought up the need for the club to find best use of the fund to promote Numismatics in Alaska. Only idea brought forward to date is from Larry Nakata- Idea being to use the moneys to bring more YNs (Young Numismatists) into the club. We need to boost up the YN Program at the Anchorage Coin Club. Matter to be brought up at our club's January 4th membership meeting.

January 4th membership meeting:

Stan Mead will give a presentation on "Early 20th Century U.S. Coinage".

Larry Nakata will bring the food.

    Final item brought up by Board member Stan Mead. In a discussion with Ann Brown, Stan was informed that Ann planned to close down "Roy's Coins" effective end of this calendar year (2011).

.......Larry Nakata/Secretary.

Next board meeting January 18th.

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January 4th Auction Lots Submitted by Bill Fivaz:

1. 1934-P Lincoln Cent MS-64 Red No Minimum.

2. 1868 Shield Nickel Rev '68 (No Broken Letters on Rev.- FS-905- Pg 216 in Cherry Picker's Guide). Very Rare. PCGS AU-55 Minimum Bid $245

3. 1954-D Franklin Half "Bugs Bunny" Cherry Picker's Guide Pg. 282 (FS-401) PCGS MS-63 Minimum Bid $45

4. 1946-D Booker T. Washington Half NGC MS-65 No Minimum.

5. 1921 -P Morgan $1 VAM-41A Pitted Reverse (Top 100) NGC MS-63 Minimum Bid $59

6. 1971-S Brown Ike Proof (Fading Peg Leg) No minimum.

7. 1955 U.S. Proof Set (5c has Tripled Die Reverse). (FS-801) Pg 316 in Cherry Picker's Guide. Minimum Bid $195.

8. 1956 U.S. Proof Set (T-1 Rev. 50c) FS-901. Page 292 in Cherry Picker's Guide. Minimum Bid $55.

9. BU/Proof set JFK 50c (1964-1983-S in album) Minimum Bid $75

10. Complete Set of Eisenhower $1 (BU/Proof) in album. Minimum Bid $135.

11. 1934 $5 Silver Certificate Blue Seal Crisp Uncirculated Minimum Bid $65.

12. 1928 $10 Gold Certificate Fine condition. Minimum Bid $65.

13. 1978 France 9-coin Type Set Proof-like BU. No Minimum.

14. 1967 Great Britain 12 coin Type Set BU. No Minimum.

15. New (5th Edition/ Volume 2) Cherrypicker' s Guide (autographed). No Minimum.

16. Donation Lot: 1924 Peace Dollar $1 Money Clip.

 

CONSIDER YOUR

CANDIDACY FOR

LEADER OF THE

ANCHORAGE

COIN CLUB

 

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MEMBERSHIP APPLICATION

NAME:_____________________________________________________

ADDRESS :_________________________________________________

CITY:________________________ STATE:_______ ZIP:___________

TELEPHONE (HOME):________________________________

                (BUSINESS):________________________________

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: coinclub@pobox.alaska.net

 


ANCHORAGE COIN CLUB
RAFFLE PRIZE

 

WINNING TICKETS WERE DRAWN
 AT THE CHRISTMAS PARTY

COME SEE THE NEXT PRIZES

TICKETS:

$5 each
or 5 for $20.00

 


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