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ACCent: The Monthly Newsletter of the Anchorage Coin Club
Volume 26, Number 7
July Membership Meeting
|Tuesday July 2, 2013||
Central Lutheran Church, 15th & Cordova
Seven (7) sets of replica Confederate and Colonial / Revolution currency were given out as door / membership prizes that evening.
ACC 25th Year Anniversary Coin Sets were distributed at meeting. Announcement made by club President Carl that we are taking orders for one final mintage of coin sets. We will be taking orders up to our club meeting on July 2nd with the intent that final coin sets and coins will be ready by our August 3rd club summer picnic event. When final mintage is done, the 25th Anniversary die will be retired. Note: Our coin club possesses the 5th, 10th, 15th, and 20th year dies.
Club's monthly raffle prize: 1885-O and 1886-O Morgan dollars in VG+ condition won by Phillip Ellord. Note: Tickets at our monthly raffles are $5/each or 5 tickets/$20.
Larry Nakata provided the evening's presentation on the subject of "The Euro".
Following the presentation, the club's monthly coin auction was conducted.
Meeting concluded following the auction.
Meeting held at the Yamato Ya Japanese Restaurant. Called to order by club president Carl.
Review of correspondence by Board.
John Larson stated that our July 2nd Raffle Prize will be a pair of coins:
1917-P Liberty Walking 50c in Fine condition,
1943-P Liberty Walking 50c in BU condition.
Larry Nakata: Since our club's June 4th membership meeting... on the matter of final orders for our club's 25th Year Commemorative Sets/Coins..... we have orders for five (5) full sets and one (1) silver commemorative. Larry will continue to accept orders up the cut-off date of our club meeting on July 2nd.
Board then addressed planning of the August 3rd Summer Picnic at the Abbott Community Park on Elmore Road in Anchorage. Plan will be the same as last year's picnic:
Club to provide hamburgers, hotdogs, sodas, chips, dips, paper plates, bowls, plastic forks, spoons, and knives.
Club members asked to bring potluck items such as salads, desserts, and side dishes to augment the hamburgers / hotdogs.
Key event will be the club's yearly donation auction in which club members donate corns and numismatic items. The proceeds from the donation auction goes towards the club programs. Note: Larry Nakata stated that we need more donation lots for the auction. As of this Board meeting, only 10 lots have been donated.
John Larson: We will also have a raffle prize for the August 3rd Summer picnic. Not announced at this time.
For the club's July 2nd membership meeting:
Club to provide pizzas and sodas that evening. Members asked to provide potluck side items (salads / desserts) to augment the pizzas.
Stan Mead to give a presentation on the seminars he gave at the "Girl Scout Biennial Encampment Event" held (June 6th through June 9th) at the Alaska State Fairgrounds in Palmer. Note: The seminars proved very successful in helping the Girl Scouts to earn their merit badges in the field of "Collecting" and in "Coin Collecting (an ANA program)"
As there was no further business to discuss, the Board meeting concluded at 7:30 PM.
Next Board meeting to be held at 6:30 PM July 17th at Tarasco's Mexican Restaurant (located near the University Center - by the Brown Jug)..... Larry Nakata / Secretary
Lots Submitted by Bill Fivaz for July 2nd (Tuesday) Membership Meeting
1. 1909 VDB Lincoln Cent MS-64 Red Minimum Bid (MB) $35
2. 1934-1994-S BU/Proof Lincoln Cent Set Includes Ch BU 1909-VDB, 1960-P SD, and 1970-S SD) MB $250
3. 1864 (LM) Two Cent Long Obverse Rim Cuds from K-9 through K-12 EF MB $27
4. 1917-S Buffalo 5c (2-Feather variety FS 401) Good MB $45
5. 1883-O Morgan Dollar MS-63+ Toned MB $ 50
6. 1883-CC Morgan Dollar MS-63 MB $190
7. 1884-CC Morgan Dollar MS-63 MB $190
8. 1928-P Peace Dollar ICG EF-40 Details Whizzed MB $190
9. 1935-S Peace Dollar MS-62 MB $190
10. 2006 ASE (American Silver Eagle) MS-67 Beautiful toning from 2x2 Brown Kraft envelope. No Minimum
11. Hobo Nickel: "Bert" by Keith Pederson (very nicely carved) MB $75
12. 1958 Canada "Totem Pole" Dollar AU MB $20
13. 1873 Great Britain Farthing EF MB $10
14. Cherrypickers' Guide 5th Edition Vol. 2 (autographed) No Minimum
15. Gold Counterfeit Detection Book (autographed). No Minimum.
16. Donation coin by Bill Fivaz: 1938-D/D (South) Buffalo 5c AU.
The idea of one common currency/coinage in Europe is not new. In the case of the "euro" it's history goes back to 1957 when a number of European countries established the European Common Market under the Treaty of Rome.
The Single European Act (1986) and the Treaty on European Union (1992) created the Economic Monetary Union (EMU). The EMU was subsequently tasked with laying the foundation for a single currency / coinage in Europe.
In January, 1999 the EMU officially set the exchange rates for the coins and currencies used by participating European countries based upon a "euro" standard. At that time, 13 countries in Europe agreed to participate. The agreement called for these participating countries to give up their currencies and adopt a new "euro" currency.
Since "euro" bank notes and coinage could not be printed/minted/circulated until 2002, except for small "euro" commemorative issues, these participating countries would retain their existing currencies until 2002.... based upon the "euro" exchange rate standard.
It took from 1999 to 2002 to print 7.4 billion "euro" notes and mint 38.2 billion "euro" coins for these countries. The period from 1999 to 2002 was also used to educate the European public about the "euro" coinage and currency.
During this 1999-2002 period of time... the European banks had the task of technically depositing and loaning moneys as "euros", but using their country's legacy currency (such as the Deutsch mark, Lira, Franc, etc.) at the agreed to exchange rate. This transition period proved to work very well.
By end of February, 2002 all participating European countries were required to move to the new "euro" currency and demonetize their respective legacy currencies.
European countries desiring to move to the "euro" had to meet the requirement of 60% of government debt as a ratio to the Gross Domestic Product (GDP) of that country. The Gross Domestic Product (GDP) is the market value of all goods and services produced within a country over a given period of time.
This would prove problematic as a result of the global financial crisis that began in the late 2000's recession.
While the ratio of debt to the GDP for the "euro" countries started below 60% in 1999, by the end of 2012, the overall "euro" area was at 91%. Meantime, the U.S. debt to the GDP ratio stood at 102% at the end of 2012.
When the "euro" was introduced in 1999, the "euro" was "pegged" in parity (1:1) with the U.S. Dollar. In other words, 1 "euro"= 1 "US. Dollar" in 1999. Since 1999, the exchange rates have increased in favor of the "euro" with a high of 1 "euro= $1.60 US..... to its present value of 1 "euro"= $1.30 US.
The volatility of currency exchange has been in favor of the "euro" since its implementation.
Today there are 17 European countries (out of 27 countries in Europe) that have moved to the "euro".
Now.... for the collector, there are lots of possibilities.
On "euro" coinage, eight denominations of coins are minted each year by each participating country.
The denominations range from 1 "euro" cent to a 2 "euro" coin. Each domination of coin has a special milled edge to make it easier for the sight impaired to recognize the different values.
The 1 "euro" and 2 "euro" coins are bi-metallic, with the 2 "euro" coin having lettering around the edge of the coin to prevent counterfeiting.
Each country is allowed to design and mint the reverse side of the coins.
So... a collector can put together (or buy) "euro" coin sets from each country. Of course, do not forget the older legacy coinage of these countries. Although demonetized, the legacy coinage is collectable as well.
In terms of "euro" currency, seven bank notes are used in denominations ranging from 5 to 500 "euros".
The front of the banknotes feature "windows" and "gateways" symbolizing the European spirit of cooperation. The reverse side of the banknotes feature bridges symbolizing close cooperation and harmony between Europe and rest of the world.
In terms of collecting "euro" banknotes, that can be expensive considering the exchange rate of the US Dollar to the "euro". You might consider putting together a first year set issue of such "banknotes".
Of course, do not forget the legacy banknotes of each country as well. Although no longer legal tender, you might consider putting together each country's final issue of their legacy banknotes.
In conclusion, an observation I've made is that the "euro" has been around 13 years. In spite of the global financial crisis experienced in the late 2000's the "euro" still continues to "hold its own" with other worldwide currencies... such as the US Dollar, the Japanese Yen, and the British Pound. More European countries have continued to move to the "euro" during this period of time.
It may prove to be the model used in other regions of the world. Time will tell........ Larry Nakata.
With over 1,000 Girl Scouts and leaders attending the encampment on June 6-9 at the Palmer State Fair ground, and over 55 presentations by different groups going on at the same time, one would have thought that things would have been chaotic. The Girl Scouts of Alaska Council did an outstanding job of accommodating all parties with the necessary equipment and space to make this biennial event a great success. Over 700 tents and RVs were set up around the fairgrounds and the weather could have not been better. The girls from Barrow and Nome said that they were melting that it was so hot, it was mid 70's.
June 7th and 8th scouts attended the presentation averaging 20 girls per session for the 2 day, 8 session seminars. Wow what a great time! Within 5 minutes after the first presentation was given, the buzz started around the fairground about how fun, hands on, and relaxing this presentation was. Both the wife and I received hundreds of "thank you's" and "what a great time we had" from both the leaders and girls. Their smiles said it all.
The "Fun with Money" ANA Girl Scout patch has different elements that need to be completed to receive this American Numismatic Association (ANA) patch. Two mandatory items that must be accomplished for the ANA Girl Scout patch are to draw / design a $1 coin and to visit the ANA web site. Pictures of some of the designs will be at the July Anchorage Coin Club meeting, along with other pictures of the activities and group settings. Other requirements within the Fun with Money patch are chosen with age group requirements in mind. The goal was to do the first two mandatory requirements, then onto the discussions, while at the same time working on the "Hobby" patch and the "Collecting" patch depending on the age group of the girts in the sessions.
The "Fun with Money" presentation was all hands on. After passing out the "Cent and Blank" combination sets donated by the United states Mint and the American Numismatic Association, discussions followed on how coins are made, this was made easy by having a form with written and drawing examples showing each step so that the girls could follow along and ask questions as needed. The girls were all surprised that they got to keep these items.
The girls next got to pick out 2-3 foreign coins that they liked as acid free coin envelopes were being passed out by Ruth. The girls could either find the date and country they were from and write the information on the envelope or they could etch with a pencil the design of the coin onto the envelope.
While working between other requirements of the Fun with Money patch, circulated wheat cents and the 2008 Alaska state Quarter were passed out along with the 2"x2" cardboard holders. The Girl Scouts had to look for and write down on the cardboard holders the mint marks and dates, then staple and use needle nose pliers to fold the staple down. Once the requirements were completed for the "Fun with Money" patch, the Uncirculated 2012 Alaska Denali Park Quarters along with the cotton gloves were passed out. Explaining what an uncirculated coin meant was interesting. Ruth told them that they had never been touched by anyone's hands. One girl asked if that meant "human hands", Ruth asked her if there was any other kind of hands. Another Girl said "I have alien hands," at least they were paying attention and interacting. Using the cotton gloves, they had to again find the date and mint mark and write them down on the cardboard holders.
Ruth handed all the Girl Scout troop leaders the requirements that were completed and those that need to be finish for the "Hobby" and "Collecting" patches so that they could finish these up at their own leisure as a troop or individually.
The last item on the agenda was the "Grab Bag". While the grab bag was held high, each girl got to reach in and take a coin. Was it a Silver Mercury of Roosevelt dime, a "V" or Buffalo nickel, or a SBA, Ike, or Presidential dollar? How about an Indian head cent or a barber dime of quarter?
Special thanks are in order to the United States Mint, the American Numismatic Association, and all the Anchorage Coin Club members who donated materials, coins, money and who bought or supplied items for the silent auction to raise funds for the YN Program.
This turned out to be a great event and I expect the Encampment 2015 for the "Fun with Money" will even be bigger with more Girl scouts wanting to attend the seminars.
Annual Summer Picnic
The Annual Summer picnic is scheduled for Aug. 3, 2013 from 11:00 am - 3:00 pm at Abbott Loop Community Park on Elmore Street, it is a very nice covered pavilion and we encourage all members and their families to attend.
The Anchorage Coin Club is seeking donation items to be auctioned off during the picnic. This Auction is the main fund raiser for the club and is the main reason "dues" have never been increased. The money raised also pays for most of the food items, soda and chips throughout the year. Please donate today!
WANTED! COIN CLUB NEWSLETTER ARTICLES
WIN FREE COINS!!!
Anchorage Coin Club needs your articles for its newsletter. Please submit your original numismatic related articles (in Text or Word format) to firstname.lastname@example.org and if your article is chosen to be published you will receive as a prize collector coins from the club. We are looking forward to seeing your articles.
Official Anchorage Coin Club
25th Anniversary Coin Order Form
***LAST CHANCE TO ORDER***
These coins commemorating our club's 25th anniversary are now available for a limited time. Only a very limited number will be made. This is your last opportunity to order (approximately two more weeks) and then the die will be retired. Orders should be ready by the August 3 annual BBQ picnic. Please bring this order form to the July 2 membership meeting or send payment to:
Anchorage Coin Club
P.O. Box 230169
Anchorage, Alaska 99523-0169
|25th Anniversary Coin Type||Price||Quantity||Price X Qty|
|Set of two Silver and Bronze coins in a presentation box. Also includes a nickel coin in mylar flip.||$95|
|Silver coin encapsulated||$75|
|Bronze coin in mylar flip||$15|
|Nickel coin in mylar flip||$15|
CITY:________________________ STATE:_______ ZIP:___________
MY COLLECTING INTERESTS ARE:________________________________
$25 / Year Regular Membership
$10 / Year Youngsters & School Aged Kids up to Grade 12
$10 / Year for Seniors, Handicapped Members,
and Associate Members Living Outside Anchorage
Send application and dues to :
Anchorage Coin Club
ANCHORAGE COIN CLUB MONTHLY RAFFLE
Tickets $5 each, 5 tickets for $20, or 11 tickets for $40. Purchase and Drawing at the July 2 meeting.
1917-P Liberty Walking 50c - Fine
1943-P Liberty Walking 50c - BU
ANCHORAGE COIN CLUB
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Anchorage Coin Club
PO Box 230169
Anchorage, Alaska 99523