Elgin Coin Club Newsletter November 2017 COLLEGIUM NUMISMA Year 24, Issue 11 November Meeting Meeting: 7:00pm November 1 Trading: 6:30 7:00pm Location: Moose Lodge 799 925 S Mclean Blvd. Elgin, IL Please note the change of location. ECC Meeting 712 Opened: 7:00 Closed 9:00 Members: 18 YNs: 0 Guests: 3 Beginning: $3,032.34 Income: $2,924.50 Expenses: $811.61 Cur. Balance: $5,145.23 Prizes Members: 1893 Columbian half YN: 1969-D half dollar, 1968-S nickel, 1970-S nickel Raffle: 1880 cent, 1976-S cent, 1963-D nickel MS64 PCGS, 1978-S dime, 1992-S dime PR69 PCGS, 1976-S quarter, 2016-S IL quarter silver, 1909-P Half dollar, 1981-S half dollar, 1980 Proof set 1981 Proof set 1986 Proof set 1987 Proof set 1993 Proof set Not a member? Come anyway and join the fun! Give your spouse a break and bring your children to the club. November program This month s program will be a club officer nominations and elections. In addition, there will be a silent auction. There will also be the usual show and tells and raffles. October minutes Pete called the meeting to order at 7:00. The Treasurers and Secretaries reports were read and accepted. Old and new businesses were discussed. Show and tells were presented. Raffle prizes were then drawn and the YN and 50/50 prizes were selected. The program was a white elephant auction. The meeting adjourned at 9:00. November 2017 Award winning Elgin Coin Club Newsletter Page 1
Secretary's Report The members in attendance accepted the Secretary s report as published in the October newsletter. Treasurer s report Balance: $3,032.34 The members present approved the Treasurers report as published in the October newsletter. A detailed breakdown of the club income and expenses is available at the meeting. Old Business The show is set and ready to go. New Business The club welcomed guest Jim H. A storage locker was rented for 13 months at a cost of $538.00. There was a call for nominations for club officers. The holiday dinner will be at the December meeting. The club made choices for the CSNS election. Radio station 103.9 FM will play 30 commercials and air 25 announcements. Prizes Winners of the monthly raffle are Nick, Howard, Jim D. (2), John P. (2), Jim M., Tom and Pete. Member: Pete YN: None 50/50: Karl $25.00 Submitted by Jim D. Spot metal Prices 10-25-2017 Gold $1,278.00 Silver $17.03 Platinum $921.00 The Elgin Coin Club needs YOU! Don t forget the change of location. Meetings now at the Moose lodge. Board Meeting On October 17, Pete, Char, Jim D., Guy, Al and Tim met to discuss club business for the November meeting. There are 14 raffle prizes and one member s prizes. This month two raffle prizes are silver. With all these good prizes the more tickets you buy the better your chances to win. Local coin shows November 5 First Sunday coin show, Holiday Inn Express, 1550 Dundee rd. Palatine, Il November 12 West Suburban Coin & Collectible Expo, Park Place Banquet Hall, 6200 Joliet Rd., Countryside, IL November 19 NOISE Coin Show, Holiday Inn, 860 Irving Park Rd (2 blocks E. of IL 53), Itasca, IL. November 19 D Atri Auctions, Double Tree Guest Suites, 2111 Butterfield Rd., Downers Grove, IL. October 29--- Elgin coin club Fall coin show. Holiday Inn, State St. (rte. 31) north of I-90 Elgin IL Show and Tell Jim D. Brought in a handout from the Chicago coin club depicting a $10,000 note. Don D. showed a San Martin medal dated 1890 and a trio of Pius VI Papal states coins. They were a Folingo 1798 2 ½ Baiocchi, Viterbo 1796 2 ½ Baiocchi and a San Severino 1797 2 ½ Baiocchi. Guy played the radio commercial promoting our fall show. Roger showed a picture of a 1949 Cadillac covered with 40,000 cents. John P. brought in a certified 2015-P nickel with an 85-degree rotated reverse. Pete showed a 1928 $1 bill with the funny back design. Page 2 Award Winning Elgin Coin Club Newsletter November 2017
Editorial Club Elections. This month we will be holding our club officer elections. Usually officers are elected every two years with two offices contested in alternate years. This year the club voted to make all offices one-year terms to be decided each November. In this election, both Pete and Char will push for at least two candidates for each post. For too long we have had too many elections where people ran unopposed. Observing the newer members, I see several who can easily step up and fill one of the elected positions. As for me, this year I will not seek re-election as club secretary. For the last 20 years, I have server on the board and it s time for me to step down. If the new secretary wants, I can continue to write a coin of the month column for the newsletter. Got change for a two-carat square cut? Last month, Numismatic news raised the question, should diamonds be used as money? Readers expressed their opinions both pro and con. One comment was that since we can replicate diamonds so well they even fool seasoned gemologists the market could be flooded causing prices to collapse. Another speculated since each gem is unique, a consistent price structure is impractical. I feel the concept cannot work in everyday commerce. If you walked into a store and chose an item and paid with a diamond, how would you receive your change? Do you receive smaller diamonds? Cash? Would the cashier need a scale to weigh the diamond? Knowing some cashiers, you could probably give them a cubic zirconium and they won t know the difference. Bottom line, using diamonds as money except under highly regulated circumstances is a bad idea.. Don t forget to turn in your raffle tickets at either the October meeting or at the coin show! Coin of the month Canadian Toonies This month s coin of the month is the Canadian $2 coin commonly known as the toonie. This coin first appeared in 1996 as a replacement for the $2 bill. Even though a single $2 bill cost less to make than a $2 coin, the coin has an expectant useful life of 29 years as opposed to 2 years for the bill. When first issued, several nicknames were suggested for the coin. Among those were bearie for the animal on the reverse, bearly and doubloonie for double loonie. My favorite was moonie because it depicts the Queen with a bear behind. The most obvious feature of the coin is that its bimetallic. The original coin issued in 1996 was 28 mm and weighed 7.3 grams. The outer ring was pure nickel and the core was aluminum bronze. The core planchet was slightly smaller than the hole for easy assembly. When struck, the core spread out creating a tight fit. There were early reports of the pieces separating but the Canadian mint claims it occurs only once every 60 million coins. Also, it s illegal in Canada to try to separate the pieces. In 2012 the alloy of both the outer ring and core were changed. The new outer ring is steel with multiply-plated nickel. The core was changed to aluminum bronze with a plating of brass. The weight shrank to 6.92 grams and the thickness from 1.8 mm to 1.75 mm. The Canadian mint claims the now composition has a magnetic signature that is difficult to copy. The obverse features the current effigy of Queen Elizabeth II created by Susanna Blunt. On the outer ring are the words Elizabeth II, the date and D. G. Regina. At the bottom of the ring is the mint logo. The toonie is the only Canadian coin to November 2017 Award Winning Elgin Coin Club Newsletter Page 3
consistently show the date on the obverse. The reverse of most circulation strikes show a polar bear standing on Ice. Brent Townsend is the artist who created this design. In the ring is written Canada and 2Dollars. After the 2012 alloy change the wording was altered. At the top of the ring is a lenticular showing two maple leaves. The words were repositioned lower and two circles with maple leaves flank the number 2. There are many ways to collect this coin. Basic circulation strikes are very inexpensive. With the favorable exchange rate with the US dollar, some can be bought for under $2. Nicer specimens may cost a bit more. The next level are specimen and proof coins. Many of these coins run in the $10 to $20 range. Because the Canadian mint never met a commemorative they didn t like there are many special issues. Some are in the standard alloy while others are struck in various combinations of silver and gold. The most expensive ones have a ring of solid silver and a core of solid gold. These coins usually sell in the range of $500 to $600. Lastly, this year they even issued a coin showing the northern lights that glows in the dark. Your business card can also appear here for just $12 per annum. Page 4 Award Winning Elgin Coin Club Newsletter November 2017
Coin Club A.N.A. 1028457 P.O. Box 561 I.N.A. 1299 C.S.N.S. R6906 South Elgin, IL 60177 ecc@worksandwords.com elgincoinclub@gmail.com President Pete McCoy Vice President- Arthur Schatke Treasurer Charlene Beal Secretary Jim Davis Regular Meeting: First Wednesday 7:00pm Moose Lodge 799 925 S. Mclean Blvd. Elgin, IL Visitors are always welcome Board Meeting: We have a board meeting about two weeks after the regular meeting. We get together at one of the officer or board member's houses or at a location otherwise determined by the officers. This is an open meeting. Members are welcome to all board meetings. If you want to attend, contact an officer for the time of and directions to the meeting place. Internet: The club has a home page on the internet at www.worksandwords.com. You can view the monthly newsletter there about three or four days after it is sent out to the members. Club Dues: Membership dues in the Elgin Coin Club, payable by the end of February each year, are: $5 junior member (YNs) under 18 $20 family membership (all adults and children in the family) Newsletter editor: Jim Davis. Contact me at P.O. Box561, South Elgin. IL 60177 or at the above email address. Submit all items for publication to the editor or any officer at any club meeting or send them to the above address. If you compose on a computer, please include an electronic copy of the item. That really helps. This Newsletter is the informal mouthpiece of the Elgin Coin Club. This Newsletter and its contents are copyrighted but you may use anything herein (accept as noted below) for non-commercial use as long as you give credit to the Elgin Coin Club Newsletter. This blanket permission does not extend to articles specifically marked as copyrighted by the author of the article. In the latter case, you must get explicit written permission from the author either directly or through the Newsletter to use that material. To get back copies of the Elgin Coin Club Newsletter ask the secretary at the meeting, send a letter to the club post office box, or send an email. You can also print them from the Internet. November 2017 Award Winning Elgin Coin Club Newsletter Page 5