N e w s l e t t e r Established 1954 May 2013

Transcription

1 Raleigh Coin Club N e w s l e t t e r Established 1954 May 2013 Contents Small Change. Pt 5 Halbert Carmichael Page 1 Information about the Raleigh Coin Club Page 2 Minutes of April RCC Meeting Page 2 June RCC Meeting Notice Page 3 I Think of Them As Medals Page 4 Coin Hawks Page 6 SMALL CHANGE FROM A QUARTER CENTURY OF GREAT CHANGES PART 5: SOUTHERN EUROPE Halbert Carmichael Italy was another country that kept its currency intact by changing sides during the war. The lira already was debased enough that the smallest coin was the one lira. The coinage was in aluminum and had classical figures and scenes of modern workers. Y96 2 Lire. Y98 10 Lire Although still officially a monarchy the post-war coins ignored the king, and the monarchy was abolished in Italy also struck coins in acmonital, an alloy of iron and chromium. This was very hard and did not allow the devices to be struck very deeply. The Vatican struck coins to the Italian standards. The coins tended to show elaborate reverses and a portrait of the Pontiff, Pius XII at this time, on the obverse. ANACS RCC Show Souvenier Sets Page 7 Y35 1 Lira Y37 10 Lire Continued on Page 5 1

2 President: RALEIGH COIN CLUB PO Box Raleigh NC http// David Boitnott Vice President: Dennis Edens Treasurer: Secretary: Sgt-at-Arms: Steve Pladna Ron Turner Benji Harrell Directors (with terms ending): Dave Provost (2013) Ben Parker (2014) Richard Brown (2015) Newsletter Editor: Halbert Carmichael Club Affiliations American Numismatic Association Member #C Blue Ridge Numismatic Association Member #C3383 North Carolina Numismatic Association Member #C14(Life) Contents copyright Raleigh Coin Club 2013 The RCC grants permission to reprint for non-profit educational purposes only any articlesd not individually copyrighted to the author provided that the RCC Newsletter is cited as the source. Minutes for April 2013 RCC Meeting Ron Turner, Secretary Welcome by Club President David 7:36 With 20 members, 3YN s and 3 guests David reminded attendees that dues are over due Treasurers Report: Steve P. provided up to date info Old business: ANA national coin week April 21 27, next Sat. not too late to do something the club will support you. Dave P. will give a presentation at the library on next Sun April 21 about native Americans on coins and currency, Bruce S. will bring coins and currency, Dennis E. will bring some buffalo nickels. Picked up a couple books to donate to the library, this year s books are 100 Greatest American Currency notes, Grading Coins by Photograph, 2013 Almanac Of American Coins. Three months to Club Show for Before the meeting we have had a meeting of all chairs and will continue to do so. So if you are a chair person please be their at 6:45. Have some talks lined up but still looking at schedule and tweak a little. Paul gave an update on tables sold, 5 new dealers, and ahead of last year s pace. Dave P. gave everybody one of the wooden nickels as advertisement for the show. They are already been given out to other clubs and shows to be put out on the literature table instead of a piece of paper. ANACS coin grading service will be excepting coins for grading. Reed Gold Mining Company has agreed to come and set up a gold panning exhibit. The Confederate Mining Company will have dies so you can strike a medal on the show floor. All clubs in North Carolina, South Carolina, and Virginia have got letters about our show. The cases are sitting a David B. work will be transferring in a couple days. New business: Jeff M. has signed up to be a merit badge counselor and will do it for 2 YN s next month. Refreshments for May will be by Gene F. Display Case for May: Dennis E. CoRaleigh Coin Cl Continued Page 4 2

3 Minutes Continued from Page 2 Show and Tell: Ken B. 20 bimetal coins Dave P. Bicentennial Medals from Australia Bob I. 40 th Anniversary Medal of Liberty Seated Collectors Club in satin Roger B. VAM 1 BB 1921-P Morgan Discovery die break reverse over A in America Display Case: A full set of Popular birds of Canada on 25 cent by Halbert PROGRAM ERRORS CLASSIFIED BY THE PDS SYSTEM by Roger Beckner Roger pointed out that errors were not poplar till 1943 copper cent. He then outlined the different types of errors that can occur. He illustrated each type by passing around slabbed examples of major planchetdie-strike mint errors. Planchet errors can occur as curved clips when incorrect advancement of the sheet causes the gang punch to overlap a previously punched out spot. A straight clip occurs whenever an edge or end of stock material reaches the punches. With clad coins, the possibility of the layers of metal separating leads to lamination errors that could look like an open clamshell. An example of a blank half dollar planchet was shown which had been punched and upset but not struck but still got out of the mint. Die errors can occur by dies clashing, obverse and reverse dies striking without a planchet in between. Another type is called a cud where a piece of the die has broken off leaving what looks like a wad of chewing gum or cud on the surface of the coin. Cracked dies leave irregular lines of raised metal across the coin. Striking errors can arise in many ways. One of the dies can get loose in the press, rotate and strike the coin with one side rotated relative to what it should be. A coin can stick to the upper die and then be struck again leaving a bottle cap, a coin with high walled edges shaped like a thimble. Broad strikes are coins that were struck outside the collar with oversized diameter and lack of reeded edge. A misaligned die error can occur when one die strikes the coin at an improper angle. Another striking error is the strike through where the coin was struck with some foreign material on the planchet leaving its image on the finished coin. One Jefferson nickel error identified as a saddle strike appeared to be double struck offcenter with a curious hump in the middle unstruck area. The humped middle was in fact a result from a simultaneous double strike by two dies next to each other. In the discussion that followed Roger pointed out that double die coins don t classify as errors but as varieties. A variety involves a design change on the die. Misalignment during rehubbing a working die resulted in multiple images (2 or more) called hub doubling. Every coin struck by this altered die transfers the same exact image. AKA Double Die On the other hand,most error coins are caused by random mechanical,metallic mishaps. Planchet Die Strike problems produce error coins. Although some error types are somewhat similar, certain specific error combinations can produce a spectacular, unique coin. The opportunity to own a unique coin is truly rare in the hobby of coin collecting!!!! Drawing: Dave P. won $20 Meeting Adjourned REGISTRATION CHAIRMAN BENJI HARREL NEEDS FOR PEOPLE TO PLAN ON HELPING WITH THE REGISTRATION. SEE HIM AT THE NEXT COUPLE MEETINGS TO SIGN UP. THIS IS AN IMPORTANT PART OF OUR SHOW WHERE EVERYBODY CAN HELP. May Meeting Notice Tuesday, May 21, :30 PM Ridge Road Baptist Church Ridge Road Program THE FIRST COINS SHOWING CHRIST Paul Landsberg Refreshments Gene Feierstein Display Case Dennis Edens 3

4 I Think of Them as Medals By Dave Provost Like many collectors, my collection is a mix of classic and modern (post-1970) pieces. I enjoy collecting both, as I believe they each represent a very different area of numismatics. My collecting interests lean heavily toward commemoratives, and so each year I am able to add several new issue pieces to my collection between the releases of the US Mint and the Royal Canadian Mint (RCM). (I also have a look at commemoratives from other countries to determine if any of their releases have a US-related theme or otherwise peak my interest, but with the worldwide release of 100+ commemoratives each year, I must content myself with being a window shopper vs. buyer in almost all cases!) The vast majority of modern commemorative coins are non-circulating legal tender (NCLT) pieces. As such, these NCLT pieces are really coins in name only they are not meant to circulate and be used as money, they often have denominations lower than their intrinsic value (i.e., the value of their metal content) and they are generally sold directly to collectors at a significant premium over their denomination/intrinsic value rather than distributed through standard commercial channels (e.g., banks) at face value. They also typically receive special handling during the minting process and are packaged in plastic cases to protect their perfect surfaces. To call these items coins as we generally think of a coin is certainly a stretch! To me, these pieces are more like medals than coins I can t spend a medal to buy a bottle of Pepsi, nor can I (easily) spend any of these modern commemorative coins to quench my thirst. That s why I think of my collection of modern US and Canadian commemorative coins more so as a medal collection vs. a true coin collection. Yes, the coins are legal tender, but When I add these modern commemoratives to my collection, I don t worry about semantics or legalities, I simply collect them as history-based souvenirs of important people, places and events in our nation s history and as triggers for me to do a bit of research and learn more about the subject featured. I enjoy the high production quality of the pieces it s nice to examine and enjoy the artist s work without distracting scratches, spots, rim bumps, areas of softness in the strike, etc. It s pretty much a guarantee that if you purchase a modern mint issue, you will be getting a high-quality numismatic product. Many collectors who eschew modern NCLT pieces often comment on the general lack of challenge in acquiring new pieces. I agree. If you want (and can afford) a particular modern NCLT coin, you can generally order it directly from the mint producing it (or a coin dealer) with little effort or stress. Some of the classic coin and medal series I collect include pieces of which very few were made or very few remain. In a dozen or more cases, I have been searching 2013 Canada Silver Dollar 250 th Anniversary of the End of the Seven Years War Continued Page 7 4

5 Small Change... Continued from Page 1. Monaco is a city-state on the French Rivera whose monetary system is tied to that of France. The elderly Prince Louis II was depicted on coins of He was succeeded in 1949 by his son, Rainier III. Rainer s chief claim to fame was as the husband of Grace Kelly. There were two types that showed a sly disrespect for the ruling party, the Phalange. The 50 centimo had a bundle of arrows, the symbol of the Phalange. However, the engraver put them on the coin pointing down, a bad omen. The trick was soon discovered and the new design showed the arrows pointing up. Y franc Y8 2 franc Y115 Y116 Portugal s unit of currency was the escudo, represented by a dollar sign. However the practice was for the sign to follow the denomination or the amount. The larger silver denominations had a wonderful depiction of a sailing ship on the reverse. Portugal had what I have since called the Yatchee coat of arms: five dice with five dots. Spanish coinage had one quirk. The large date on the coin was the first date of issue for the type. The date the coin was struck was hidden in small numerals inside the star that was the mintmark of the Madrid mint. Y63 10 escudo Y63 10 escudo Spain in this period was slowly recovering, not from World War II, but from its own destructive civil war five years earlier. Nominally a kingdom, its coinage showed the complex royal arms on one side. However, it showed its real ruler, or caudillo, dictator Francisco Franco on the other. Y pesetas 5

6 COIN HAWKS Young Numismatist Program At the April program we had 3 YNs who are brothers attend the meeting. Steve P did a presentation on Paper money showing various kinds of paper money and describing what all the letters and numbers on a dollar mean. Also this month I started the coin collecting merit badge with 6 scouts, one of whom has been a fairly regular attendee of the YN meetings. This month we will be discussing coins used during the Civil War including tokens. Also, bring your Lincoln and Indian Head penny books to pick out pennies to fill holes in your book from items that have been donated to us. The store will also be open to allow you to use any club bucks you have earned. The YN program starts promptly at 6:45 and all are welcome to stay for the regular club meeting at 7:30. Also, remember that you can use up to 1 of you club bucks for the regular meeting raffle. The schedule for the next two months is: June - How to deal with a dealer July - Exonumia Following are the questions for the monthly quiz for which you can earn club dollars which will allow you to purchase items the club has made available. If you can t attend the meeting but still want to earn RCC bucks please your answers to jjjsmac@gmail.com. 7. How many coin denominations used in the 1800 s are no longer made? 8. What is the weight of a 1981 cent? 9. What is the weight of a 1985 cent? 10. Why the difference in weight between the two cents? Other ways to get more club bucks: 1. Bring a friend to a coin hawk meeting 2. Do a presentation at the Coin Hawk meeting on a numismatic topic. HELP NEEDED FROM ADULT MEMBERS 1. Items in the store to let YNs use their club bucks are getting low. If you would like to donate something to sell to the kids it would be appreciated. 2. We have a bag of wheat cents, Jefferson nickels, and foreign coins the kids can look thru. Always looking for new material though. 3. Looking for a couple people to become coin collecting merit badge counselors for Boy Scouts and possibly put on a program at the club show in July. Thank you Jeff M 1. How many different places mint US coins? 2. How many different types of nickels have been made? 3. Can the terms Proof and Uncirculated be used interchangeably? 4. What are the smallest types and value of currency called? 5. Explain the term Legal Tender 6. Whose picture is on the 50 dollar bill? 6

7 I Think of Them as Medals Continued from Page 4 for years to find a nice example of a piece to add to my collection and I acknowledge that it s always a thrill to finally locate such a piece and make it mine! That said, I still look forward to each new commemorative release from the US Mint and new commemorative silver dollar from the RCM. The lack of a need to search for these coins doesn t lessen the enjoyment of collecting them for me. I enjoy their beauty, their history and the story of a nation that they tell expending little effort to obtain them is a bonus! (Hobbies aren t meant to be stressful!) I ve included an image of a recent release from the RCM. It is an example of a Canadian commemorative coin that pays tribute an event that is central to the history of Canada as well as the US the Seven Years War or, as we call it here in the US, the French and Indian War. Had things turned out differently in this war, our national language might be French rather than English! In today s era of graded /certified/slabbed coins and medals, knowledgeable collectors and many dealers often opine buy the coin, not the holder. I promote a similar recommendation when it comes to modern coins. Don t worry about whether a piece is a real coin or concern yourself about its potential resale value. Add them to your collection because you like their design, are interested in the subject they celebrate or any other reason you that enables you to enjoy it! There are no absolute rules to coin collecting, why create them unnecessarily to limit your enjoyment of the hobby? ANACS RCC Show Souvenir Sets Available ANACS will be attending our July show to accept submissions for grading. As part of its attendance, ANACS agreed to encapsulate some 2001 NC Statehood Quarters (at cost) and label them with a special RCC show insert. (See below for an image of the special RCC ANACS slab.) The coins submitted to ANACS came from uncirculated rolls, but were encapsulated without being graded. Two-coin sets (one quarter each from Philadelphia and Denver) will be available for purchase by RCC members at a price that covers the club s costs. Sets will be available for $5.00 prior to our show; remaining sets will be sold to the public at the show for $6.00. Please see Dave P at either the May or June meetings if you are interested in purchasing a set for your collection. They are the perfect RCC Show souvenir! Also, all club members are encouraged to submit coins to ANACS at the show; they will be offering special show pricing for their fullservice authentication and grading. Until next time, Happy Collecting! Plan now to show off your goodies. EXHIBIT AT THE 2013 RALEIGH COIN CLUB SHOW The club can provide cases. Several members are available for advice. See: Dave Provost for application 7