Elgin Coin Club Newsletter April 2017 COLLEGIUM NUMISMA Year 24, Issue 4 April Meeting Meeting: 7:00pm April 5 Trading: 6:30 7:00pm Location: VFW 1307 1601 Weld RD Elgin, IL ECC Meeting 705 Opened: 7:00 Closed 9:00 Members: 19 YNs: 3 Guests: 3 Beginning: $3,814.57 Income: $1,220.00 Expenses: $762.00 Cur. Balance: $4,272.57 Prizes Members: 1945-P 50 cent YN: A bag of mixed Buffalo nickels Raffle: 1940-S cent ICG MS65 1941-P dime MS63 FB 1953-D quarter MS64 1954-P quarter UNC 2003-S quarter ME Silver 1919-D half 1977 Proof set 1985 Mint set 1999-P, D cent, nickel, dime and half BEP Lucky 8888 dollar 2003 $2 Mother Theresa US mint medal Not a member? Come anyway and join the fun! Give your spouse a break and bring your children to the club. April program This month s program will be a White Elephant auction. Bring in an item or two you think the members might desire. Proceeds go to the good of the club. In addition, there will be a silent auction. There will also be the usual show and tells and raffles. March 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 member s coin auction. The meeting adjourned at 9:00. 4/9/17 April 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 March newsletter. Treasurer s report Balance: $3,814.57 The members present approved the Treasurers report as published in the March newsletter. A detailed breakdown of the club income and expenses is available at the meeting. Old Business We discussed the spring show, preparing a members list, invited all interested members to the board meeting. Monthly member prizes are acquired at the board meeting. New Business We wished Char happy birthday. The club approved moving the fall coin show to the Holiday Inn. We will request a refund from the VFW. Tim printed more raffle tickets. Prizes Winners of the monthly raffle are not available. Member: Jim D. YN: Josue, David 50/50: Howard $22.00 Submitted by Jim D. Spot metal Prices 3-29-2017 Gold $1,254.00 Silver $18.25 Platinum $955.00 The Elgin Coin Club needs YOU! Please do not forget to turn in your coin show raffle tickets at the meeting or show. Board Meeting On March 14, Pete, Char, Arthur, Tim, Don, Al, Guy, Howard, and Jim met to discuss club business for the April meeting. There are twelve raffle prizes and one member s prizes. This month five raffle prizes are silver. With all these good prizes the more tickets you buy the better your chances to win. Local coin shows April 2 First Sunday coin show, Holiday Inn Express, 1550 Dundee rd. Palatine, Il April 9 West Suburban Coin & Collectible Expo, Park Place Banquet Hall, 6200 Joliet Rd., Countryside, IL April 16 NOISE Coin Show, Holiday Inn, 860 Irving Park Rd (2 blocks E. of IL 53), Itasca, IL. April 23 D Atri Auctions, Double Tree Guest Suites, 2111 Butterfield Rd., Downers Grove, IL. April 23, 2017--- Elgin coin club Spring coin show. VFW 1307, 1601 Weld Rd., Elgin IL April 26-29, 2017 --- Central States Numismatic Society, Renaissance Hotel & Convention center, 1551 N. Thoreau Dr., Schaumburg, IL Show and Tell Roger spoke of a 1909-S VDB cent selling on EBay for $100, reported on counterfeit $50 and showed a stamp from stamps.com featuring the Pioneer memorial. Dave showed a dime possibly missing a clad layer. Char brought in a large nugget of Iron Pyrite (fools gold). Howard brought in a 1971 cent in a NGC holder which the label says 1970. Tim showed a silver round showing President Trump and spoke of a bad purchase on EBay. In a roll of 1927 dollars all were cleaned. Tim was able to get a refund. Page 2 Award Winning Elgin Coin Club Newsletter April 2017
Harold brought in his collection of Mardi Gras tokens and gave their history. Editorial Central States is back. It s April, what little snow we got is gone and the birds are returning. In Schaumburg, dealers from all over the country will converge to take part in this years CSNS convention. As in past years, the event will take place at the Renaissance Hotel & Convention center near Meacham Rd. and the tollway. The convention will start April 26 and end on the 29 th. Along with the large assortment of dealers, there will be a large exhibit area. At least three of our club members are expected to prepare displays. If that is not enough, several educational seminars are scheduled for Friday and Saturday. The Elongated collectors will be there to roll out souvenirs of the convention and many local and national organizations will have booths to promote their services. If you have coins you want graded by a third party service, they will also be there. This will save you some money on shipping and insurance. Lastly, the best thing about this convention is admission is free and there is plenty of free parking. The great gold robbery. Recently at the Bode museum in Berlin, thieves broke in and stole a gold coin. Ordinarily this would be of marginal interest but this coin makes the theft special. The coin was one of six Canadian million dollar gold coins. The coin is 100 kilograms and is.99999 pure. The coin was displayed in a case of bulletproof glass and probably required two or three people to carry the 220 pound item. When it was made in 2007, the coin was worth about 2 million but today based on current spot prices is now worth over 4 million. Lets hope German authorities can recover the item soon. With it s huge size and notoriety it would be hard to fence. This would leave the thieves no option but to melt the item down into small ingots and that would be a loss to numismatics. Baseball is back. Right now the White Sox and World Champion Chicago Cubs (I still can t believe I m saying that) are preparing for the 2017 season. The Sox made some aggressive moves trading some veteran players for young prospects. I don t expect much from them this year but in a few years they should be vying for the pennant. On the north side, despite the loss of Fowler and Chapman, the cubs are favored to repeat as NL champions. Will the Cubs front office be like the Bulls and Blackhawks and bring Chicago multiple championships or will they be like the Bears and Sox who stopped at one? Coins of the month Coins of 1932 This month s coins of the month are all the coins struck by the US mint in 1932. The great depression was in full force in 1932 and the mint had to cut back on production due to lack of demand for new coins. The cutbacks were so severe that several denominations were not struck all year. This is why there are no 1932 nickels, dimes, halves, silver dollars, gold quarter and half eagles. In this article, I will list all seven coins that were struck for circulation. Cents. Lincoln cents were struck at both Philadelphia and Denver. Mintages were a bit lower than recent years at 9 and 10.5 million. Still today you may find one in circulation. Collectors can expect to pay a dollar or two for a nice high grade circulated piece up to $15 to $30 for choicer mint state examples. Quarters. Washington quarters were struck for the first time in 1932. All three mints produced examples of this coin that was intended to be a one year only issue. The coin became popular and by 1934 replaced the Standing Liberty quarter. Philadelphia struck 5.4 million and Denver and San Francisco made about 400 thousand each. It is unlikely April 2017 Award Winning Elgin Coin Club Newsletter Page 3
to find these coins in circulation. The Philadelphia issue will cost from $8 for a circulated piece to about $50 in ms 63. The branch mint issues are more expensive. Prices for these start at over $150 and rise to almost $2,000 in choice condition. The other two coins made this year are gold coins and both only struck in Philadelphia. The $10 gold is the most common of its type with a mintage off over 4.4 million. Examples of this coin will set you back between $800 and $1,500 in grades up to ms63. On the other end of the spectrum is the $20 gold. Even with a mintage over a million, it is one of the keys of the series. Examples are highlights of major auctions and depending on the grade can sell between $25,000 and $75,000. If someone got one of each of these coins at face value in 1932 for $30.77 they would have a set worth over $50,000 today. Your business card can also appear here for just $12 per annum. Other 1932 coins Page 4 Award Winning Elgin Coin Club Newsletter April 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 S. Treasurer Charlene Beal Secretary Jim Davis Regular Meeting: First Wednesday 7:00pm VFW 1307 1601 weld Rd. 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. April 2017 Award Winning Elgin Coin Club Newsletter Page 5