Anchorage Coin Club Newsletter November 1994

As usual during the winter months, coin and card shows are topping the news. However, the news in this department is not all rosy. For details, read on!

The bad news is that the Northway mall show scheduled for November 11 through 13 has been canceled due to forces beyond our control. We do not pay the malls a fee to use their facilities; the benefit that we provide to them is a well documented significant increase in traffic. Unfortunately, we can be bumped by other organizations that will pay for the privilege of using their space.

A small show will take place at the Cottonwood Creek Mall in Wasilla (Our new state capital??). This is our smallest show, necessitated by space constraints, with only fourteen tables. The show is already full at this time.

Due to the cancellation of the Northway mall show, we have scheduled a second show at the Valley River Center in Eagle River. Typically we try to visit each mall once in the fall and once in the spring in order to get the maximum possible exposure to the public, but this is not a hard and fast rule.

Skip has also helped us out by providing some extra tables and chairs, as well as helping with setup and breakdown of the show.

The show will have space for 30 tables total. There will be ten coin tables along the window and twenty tables in the mall area for card dealers. At this time, there are about a dozen tables still open, but they will fill very fast when the newsletter is mailed out. Persons interested in setting up at this show should call your editor at 344-9856 to check for table availability.

BONIFACE MALL

This is a new one for us! For our first time ever, we will be having a show at the Boniface mall, on the weekend of December 3 and 4. This is also one of our first December shows, as the malls usually have every scrap of space filled with decorative matter.

We have not yet gone to the mall to take the necessary measurements, so the exact number of tables that will be available is not known at this time. For information and to sign up for tables, call Phil Robertson at 338-7467.

Remaining Fall Shows: Eagle River Nov. 19-20

Wasilla Nov. 18-20

Boniface Mall Dec. 3-4

We will soon be working on the spring show schedule - stay tuned!

The program for November is a video on counterfeit detection. Several of us that attended the seminar this fall have seen portions of the video, but one can never learn too much on this subject.

On the subject of fake coins, several members have submitted altered and otherwise undesirable coins to Larry for a display at the coin shows. Keep an eye out for his display.

REMEMBER: The December meeting will be held on Thursday, December 8th in the large room near the kitchen downstairs. All members will be called to find out if they will be coming and what they plan to bring to the Christmas potluck.

Several people have already volunteered to bring the ham and turkey entrees. Other items that will be needed are side dishes, desserts, etc.

It seems that your editor now has competition from within the club! The YNs of the club have produced their first newsletter issue for distribution to all YNs in the club. This particular publication is five pages in length, and supposedly contains an abundance of artwork.

Club incorporation is complete as far as the state of Alaska is concerned. There are a few more steps to be taken before we have our nonprofit status paperwork completed to the satisfaction of Uncle Sam. The whole thing should be over with in the next few months.

As a service to all club members, It seems that it is necessary to mention the following name at least once, to possibly increase this publication's circulation:

It is likely that sometime in the near future, the club will be required to purchase liability insurance. This insurance will cover club members any time that they get together to conduct activities for the club. In other words, we will be covered at the meetings, E Board meetings, and the shows. The policy will cover us to the tune of $1 million. As of now, we seem to be unable to acquire this policy for any less than $1100 per year. Anybody with information on how we may possibly be able to get such a policy for less than this amount, please contact Robert Hall at the numbers on the front cover.

The following dues report comes to us courtesy of treasurer Paul Wheeler. In this same department, it is here noted that five new members were signed up at the Sears mall show, and several current members brought their dues up to date.

At the October 14th YN meeting, a decision was made to distribute the $100 in ANA grab bag coins amongst all of our YNs. Each of their collections has been enriched a bit by the generous donation made by our Anchorage Coin Club. For those YNs who did not attend the October 14th meeting, please contact Bill McGinnis, Mike Orr, or myself on making arrangements to get your grab bag coins.

The October 14th YN meeting also featured two VHS tapes on the subjects of "Building a Coin Collection From Pocket Change" (as narrated by Scott Travers) and a National Geographic narration on the history of money.

It was good seeing a number of our YNs visit the Sears Mall Coin Show earlier this month. Thanks also go out to YN Joel Yarmon for his assistance in manning the coin club table at the Eagle River Mall Coin Show.

The next YN meeting is scheduled for Friday, November 11th at 7:00 PM at the Central Lutheran Church. Arrangements are being made for a YN coin table at upcoming coin shows starting in January. The intent is to give our YNs a chance to participate in our Anchorage Coin Club coin shows. Accordingly, the November 11th YN meeting will focus on a planning session among the YNs on programs for their YN table.

The November 11th YN meeting will also feature a VHS tape presentation with follow-up discussion on a topic of coin collecting. The topic will remain a secret for now.... but should provide an interesting surprise for those YNs attending the November 11th meeting

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- A Common Thread -
By Mike Orr
Anchorage Coin Club Vice President
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Although most of us consider ourselves as independent members of an independent nation, commerce throughout history has proven otherwise. Indeed, as in commerce in general, our coinage history is interlinked with other nations (specifically Britain) which forms this common thread. In an article in Coinage magazine, November 1993, a challenge in the way modern coinage is thought of went out.

They state "The next time you take a coin from your pocket or your purse, take a close look at it, not as a potential collectible, but as an industrial object. Inspect its edge: it will be perfectly vertical, either shiny and smooth or reeded with perfect vertical grooves. Note its size: its diameter will be absolutely identical to that of every other coin of the same denomination, regardless of mint or time of minting. Consider its relief: flat and unadventerous, but long wearing. Finally, look at the details of its design, the placement of its legends and the numerals of its date: they will be absolutely consistent within a given year. This is the modern coin, whose qualities we take for granted."

The point of all of this in the article is that "from economic and technological perspectives... we must accept the modern coin as a success." They go on to say: "We must observe that it had many originators, both heralded and unsung. But it had only one true pioneer, and that was Matthew Boulton, of Soho, near Birmingham, England. Boulton's contributions to the art of moneying arose from the determination to harness the force of steam to the making of coinage."

Yes indeed, we owe a real debt to Boulton as he and his new partner James Watt went about their quiet revolution in the coining art. For those interested this article goes on to explain the history of these men and the dawning of modern coinage in England in the late 18th century.

There is a common thread which flows through the history of the new coinage of America and that of England.

The reason I find this interesting is the common thread which flows through the history of the new coinage of America and that of England. Although Boulton and Watt made discoveries in coining that enabled England to supply an ever expanding need for coinage in the early industrial age, America does not adapt steam power to coinage for several decades. The point is that if it were not for Boulton, Watt, & Company and the steam pumps they supplied to copper mines in Cornwall and other locations in England, mine owners would not have been able to dig deeper and more profitably.

Along with this came an increased supply of copper. An increase for which a use must be found and what better use than that of coinage. At this time (later 18th century) coinage was in chronically short supply not only in England but all over the world in which Britain had influence. Also, the revolution in America had ended, a new nation was being forged, and the need for new coinage was acute.

A companion article in coinage states that "Elias Boudinott replaced DeSaussure as director (of the new U. S. mint) in late October 1795... One of his major problems... was finding a steady supply of copper... in May 1796 and there was none in sight. After an unsatisfactory experience with the Governor & Company of copper miners in England... Boudinott turned to Boulton." Boulton was too busy with contracts elsewhere and put off Boudinott until later. In the mean time the poor quality planchets and sheet copper which came from the Governor & Company was processed and sent to the coining room of the Philadelphia mint. In November and December 1796, the planchets were struck into the newly designed draped bust cents. By February 1797, demand for cents was still high so the sheet copper was scrubbed, scoured, and the 400,000 planchets cut from it were struck into cents by March 15th.

In the fall of 1797, the mint was again closed due to another yellow fever epidemic. "While the doors were closed copper from both Boulton and Governor and Company arrived at the Philadelphia docks..." COINage magazine goes on to point out that "The Boulton planchets proved to be ideal, but those from Governor & Company were just as bad as before; the latter company would sell no more copper to the Philadelphia mint. Boulton, on the other hand, would produce planchets for cents and half cents until 1838, providing more than 40 years of service to U. S. coinage."

The next time you admire your collection of early U. S. copper, remember the debt we owe Matthew Boulton and James Watt of England. Indeed these early coins are fine examples of a common thread between the so called dispossessed "Mother Country" and post revolutionary America. Ideology separated us at the time, but the needs of commerce created interdependence.

Editors note: The following was excerpted from a letter received from numismatic researcher and variety expert Bill Fivaz. Mr. Fivaz conducted a seminar here in Anchorage a few years ago, concentrating on his specialties of grading and varieties. Thanks for the additional information, Bill!

As always, I read the latest issue from front to back, and enjoyed all the news and articles. I especially liked Roger Wollam's article "85 Years Of Lincoln Cents", wherein he listed the key coins of the series. However, there was one statement under the "1922-D?" listing that I feel should be addressed to avoid confusion. Roger stated: "It will be weakly struck on the reverse as well as the obverse....".

Members should be aware that the only "1922 'No D'" cent that is generally attributable as such and accepted by the collecting fraternity are those struck from Die #2, the one with the strong reverse. The wheat ears must not be mushy or ill-defined, but strong and clear. Those members who have one of my Counterfeit Detection photo sets may refer to the photos and list of diagnostics on this coin in that series for further information on this coin. This is not meant in any way to "pan" Roger's article - it was an excellent one...I just felt the members should be aware of what was accepted in the industry as a "1922 'No D'" before going out to purchase one for their set.

Three entries were received for the investment contest. To refresh your memories, each contestant starts out with a hypothetical $1000 with which to form a portfolio of coins. The person with the portfolio worth the most at the end of the contest is the winner.

The three entrants were Larry Nakata, Robert Hall, and Mike Nourse. Larry has placed his money into the BU roll market while Robert has gone for the Fine Barber dime series. Increasing bids caused Mike to gamble that MS-64 Morgans will be increasing over the next six months.

Some interesting notes on commemoratives were published in the October 7th Greysheet (Coin Dealer Newsletter). The write-up concerns the small spread in price between the XF/AU grade and the lofty MS-65 condition.

Noted in first place is the York half dollar which has a 12.7% ($18) spread between these grades. It is currently bid at $142 in XF/AU and $160 in MS-65!

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The 1820's: Ten Years In History
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Editor's note: this is the fourth installment in a series of articles started in August 1994.

The depression that had started at the end of the 1810's continued through the early 1820's. Hard times often tend to bring about a sense of every person for themselves - and this was the case here.

The country was divided into different areas (primarily North, South, and West) depending on what there primary industry was. The North and South split was aggravated by the fact that the southern states allowed slavery while the northern states were free.

In 1820, another part of the Louisiana Territory petitioned to become the new state of Missouri. The area met all of the qualifications, but there was a debate about whether or not to make it a slave state or a free state; there were both northerners and southerners populating the area.

Congressman James Tallmadge of New York proposed that no more slaves could be brought into the area after statehood, and that all slaves born after statehood would become free upon their 25th birthday.

This seemed reasonable to most people, but it would upset a very delicate balance that existed in the Senate. There were 22 states at the time, 11 of which were free and 11 slave. The introduction of Missouri as a slave state would upset this balance, hence the 11 free states would never agree to allow the petition to pass.

The final solution was known as the Missouri compromise. Missouri would be admitted as a slave state because there was already a good number of slaves in the area.

To maintain the balance in the Senate, Maine would also be admitted, as a free state. The Senate now had 12 slave states and 12 free states. To prevent such an occurrence in the future, it was decided that no more states formed north of 36.5 degrees north latitude (the southern border of Missouri) would allow slavery. This whole episode showed that the country was becoming severely divided on this one issue.

The country's tenth presidential election occurred in 1824. The best way of going about electing the leaders of the country had not yet been quite nailed down, and there was a small degree of chaos.

The Federalist party had dissolved by this time, leaving just the Republicans. However, there were five of them battling for the big chair. One of the candidates, John C. Calhoun, dropped out of the presidential race to run for the post of vice president.

In order to become president, a candidate must not only beat all competitors, but he must also get a majority of the electoral college votes. When the election was held, Andrew Jackson was on top with 99 electoral votes, and John Quincy Adams was second with 84. The other two candidates, William H. Crawford and Henry Clay, received substantially less.

According to the Constitution, in a situation such as this, the decision goes to the House of Representatives. Andrew Jackson thought that he should be elected because of his greater number of electoral votes. However, Henry Clay did not want Jackson to win and so gave his support to John Quincy Adams. This was enough to give Adams the presidency.

After Adams was elected, he posted Henry Clay to the best position in the Cabinet, secretary of state. This resulted in all sorts of accusations that a deal had been pre arranged for these two offices; the accusations would continue through their entire term.

Adams was an interesting fellow who would not have a chance of being elected in today's world. He felt that he knew what was best for the country and would never ask for advice on what to do. He never met with the common people, did not care what they thought, and never explained his policies to anybody. All he wanted the people to do is pay their taxes and trust him to take care of running the country.

Adams was overall actually a good president. He was very intelligent, and studied each problem carefully before coming to a decision as to how it should be handled.

The election of 1828 saw John Quincy Adams defeated by Andrew Jackson by a large majority. Jackson was able to appeal to a far greater number of people, and Adams was only able to win support from the New England states. Like his father, John Quincy Adams had lost his bid for a second term as president.

Jackson had formed a new political party known as the Democrats. The Democrats were so popular that they not only won the presidency, they took a majority in both houses of Congress.

Andrew Jackson was an exact opposite of Adams; he believed that the people could think for themselves, and believed in as little government as possible. His election resulted in one of the most famous parties in history! The party was held in the White House on election day and resulted in the building getting severely trashed. Jackson had to sneak out the back door when the crowd got too rowdy. Finally the happy mob was lured outside to the White House lawn by large tubs of fruit punch.

Several new political policies were started under Jackson. When he was elected, he proceeded to fire all top government officials that opposed his election and replaced them with his supporters. This policy continues to this day, although canning 20 percent of the government may have been a bit extreme.

Jackson was also the first to really use the presidential veto power. All past presidents only used the veto on questions concerning the Constitution. Jackson vetoed any bill that he did not like, and he had a very definite opinion on every bill that was sent to him.

Coinage production was up significantly this decade, although it was hardly spectacular. Among coppers, 1,390,000 half cents and 17,142,000 large cents. These coins are readily affordable, starting at under $25 for the half cent and under $15 for a large cent.

Four denominations of silver coinage were produced during the decade. Production figures include:

All silver coins featured the capped bust design by John Reich with modifications by William Kneass. Current values for these coins start at $15 each for a low grade half dime or dime to $25 for a similar quarter or half dollar. Silver dollars would not see regular production again until 1840.

Gold coins of this era are all exceedingly scarce due to very low mintage and large quantities being melted in the 1830's. Production was as follows:

Production of eagles was suspended in 1804 and did not resume until 1838. To acquire any gold coin from the 1820's requires deep pockets. Even damaged specimens command hundreds of dollars and an undamaged piece will cost thousands.

The Anchorage Coin Club

Meetings:       Membership meeting - First Wednesday of the month, 7:30 PM
                        E-Board meeting - Third Wednesday of the month, 7:00 PM
                        Meetings held at the Central Lutheran Church, at the corner of 15th and Cordova

Club Officers

President-                     Mike McKinnon      Days: 786-7490
                                                                        Eves: 248-0955

V. President-                 Mike Orr                 Days: 258-9100

Treasurer-                      Paul Wheeler         Days: 563-3910
                                                                        Eves: 694-0962

Sec./Editor-                   Mike Nourse          Any: 344-9856

Board of Directors

Robert Hall- Days: 265-8782

Roy Brown- Eves: 563-6708

Larry Nakata- Days: 269-5603
Eves: 563-1729

DUES

Life Membership                      $250
Regular Membership               $25/year
Associate Membership           $10/year
Junior Membership                  $5/year

To save cost, members not responding to renewal notices within three months will be considered inactive.

The Anchorage Coin Club is a non-profit organization formed to provide information, education, and a meeting place for individuals having an interest in numismatics.

Volume 7, Number 11		November 1994
	November Membership Meeting
Wed., Nov. 2, 1994	Central Lutheran Church	7:00 Open 7:30 PM Meeting

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