Anchorage Coin Club Newsletter December 1994

REMEMBER!!! The December meeting will not be held on the usual first Wednesday of the month. Instead, it will be held on Thursday, December 8th in order to give us access to the recreation room downstairs from our usual meeting location.

Several members have been making phone calls to determine what each member plans to bring to the potluck and to get an estimate of expected attendance.

The meeting time is also a bit different this time around: we plan to start chowing down at around 7:00 PM, so people should plan on showing up in the 6:30 to 7:00 area. A microwave oven will be at our disposal in case your contribution to the potluck needs some radiation therapy after the trip over in a freezing car.

A proposal was made that we should consider an auction for the December meeting. After a bit of discussion, it was decided that this may prove a bit less than exciting to the non - numismatically inclined guests that will be accompanying some of our members. Hence, we will conduct our regularly scheduled bid board.

The usual bid board rules will apply, and cards for each lot are priced at 50 cents. It is hoped that the bid board will be less obtrusive than the auction because it does not require the participation of everybody in attendance.

SHOW INFORMATION

As the fall shows pass into the history books, we are working on setting up the shows for spring. Hopefully there will be at least five shows in our spring 1995 agenda.

BONIFACE MALL

The Boniface mall show is set for December 3rd and 4th and will have roughly 50 tables. The usual mall hours will be in effect. At this time, the show is full and a wait list has been established. For any information on this show, please contact Phil Robertson at 338-7467.

Upcoming Show Schedule:

Boniface Mall Dec. 3-4

Dimond Mall Jan. 7-8

DIMOND MALL

A show has been set up for the Dimond Mall for early January, presently set for the 7th and 8th. There is a possibility that this show may be extended to a three dayer by adding Friday the 6th. To sign up for this show or for information, call Mike Mckinnon at 248-0955.

This show will likely be about 50 tables in size. Space rental will be around $35 per table if we get the three day show, and about $25 if it is two days. These are only estimates; contact Mike McKinnon for exact amounts.

Robert Hall is presently working on setting up a show in the Northway Mall for early to mid March. This will likely be a three day event, as are all Northway shows. Dates have not been finalized, but we should have them for you in the next newsletter.

There will certainly be a Sears Mall show, probably sometime in February. There will also likely be a return to Eagle River, probably later in the spring when weather is less likely to be a factor for people driving in from Anchorage.

As a public service for anybody involved in long range weather prediction, you may confidently predict a snowstorm on any/all scheduled show dates.

Progress has finally been made concerning insurance for the club. Several malls were starting to require the club to carry a $1 million liability policy in order to set up shows. We put this off for as long as possible to avoid the enormous expense, but too many malls are now requiring it.

After numerous calls, Robert Hall was able to nail down a policy at a cost of $1103 per year for $1 million worth of liability coverage with a $500 deductible. Thanks go out to Robert for taking care of this matter.

To cover this expense, all table rentals at the shows will increase by $5 per table. This decision was made because we were required to get the insurance to be allowed to put on the shows. Still, a cost of $10 to $15 per day for a table at a show is quite inexpensive.

There have been many rumors floating around concerning a new law that may be coming on the books in the Municipality of Anchorage. To summarize, the law would require any second hand dealer who sets up a sale more than three times per year to obtain a license and put up a $5000 bond.

Robert Hall contacted several government and law enforcement officials to try to get to the bottom of it all. Upon speaking to the individual that actually wrote the legislation, he found that we have little to worry about.

A version of this law is already on the books, and it is just being modified to protect the legitimate and established secondhand dealers and pawn shops in town. Apparently some people are driving up from the lower 48 with a semi load of used merchandise and setting up what they are calling a garage sale. These are essentially shops on wheels, run by people trying to avoid getting the license and putting up the bond. These individuals are the ones that the modified law is aimed at. As long as you do not set up semi permanently or create a nuisance, you need not be concerned.

Larry Nakata received a $1 bill from Mr. Anthony Swiatek, hand signed by the persons whose signatures are presently printed on each note. This was a thank you for a large box of fish given to the Swiateks at the conclusion of their seminar here in September.

Despite a heavy snowfall on Friday, a couple of truly dedicated YNs showed up for the YN meeting. Two VHS tape presentations were shown that day:

for the meeting. Those lucky YNs who attended hot to keep some of those bank notes and error coins. Among the giveaways were World War II Japanese Occupation notes, a 1921 one hundred thousand Soviet Ruble note, and off center Lincoln cents.

There are a few more giveaway bank notes and error coins left for those YNs who were not able to attend the meeting. Those YNs can see me at the upcoming coin shows at the Eagle River Mall (November 19-20) and at the Boniface Mall (December 3-4). I'll be manning the club table. First come, first serve on those bank notes and error coins! I also have a few grab bag coins left for those YNs who have not yet received their items.

Because of the sparse turnout at our Friday meeting, it was decided to forego discussion on upcoming projects for next year. We would like the YNs to give some thought on projects for next year, especially projects involving the YN table at upcoming coin shows next year.

Our December YN meeting and Anchorage Coin Club meeting will be held concurrently on the same date (Thursday, December 8th). This is our Christmas Potluck Party. Hope to see all of you YNs at the Christmas Party. Lots of food and fun can be expected at that meeting.

Do you dream of the coin prices from years gone by? I have always found it fascinating to look back at the prices of coins in old catalogs or pricing guides, and marvel at how many coins were available at close to face value.

The following are a number of values taken from "A Handbook Of United States Coins" by R. S. Yeoman. Popularly known as the Bluebook, this pricing volume lists approximate dealer buy prices for most United States coins. The copy that I am using is the seventh edition, dated 1949 but issued in 1948.

When no date is listed, the price represents a common date type coin valuation. Remember that these are the wholesale values. Pull out a current price guide and compare!

Very Good                             20.00
Fine                                        50.00
Uncirculated                           100.00
Proof                                      125.00

The following scale was proposed by ACC member Jim Hill for classifying counterfeit or altered coins:

Time once again for the dreaded dues report, courtesy of treasurer Paul Wheeler. Most people seem to be staying current, though a large number come due next month. Remember that you may pay your dues through the mail to the address on the front cover, at any regular or E - Board meetings, or at any coin show.

Four 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 contest runs through next spring, but each contestant's picks are listed below along with the most current trends values available.

At this time, it appears that Larry Nakata and Mike Nourse are falling a bit behind while Robert Hall and Mike McKinnon stay in close to the $1000 mark. There are still a few months left for all of that to change...

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The 1830's: Ten Years In History
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Editor's note: this is the fifth installment in a series of articles started in August 1994.

To start, here are some statistics from the year 1830 to give some idea of how much things have expanded since that time.

By contrast, we now have about 20 times as many people with 100 times as many immigrants, imports and exports are almost 1000 times greater, and the national debt has increased by well over 100,000 times!

In 1830, the big debate going on concerned states rights verses the rights of the country as a whole. Andrew Jackson and his vice president, John Calhoun agreed on most issues, but not this one. Jackson stood in favor of a strong union while Calhoun was more interested in preserving states rights. Jackson and Calhoun made their positions on the subject very clear at a dinner given in honor of Jefferson's birthday on April 15th. Jackson stated "Our Federal Union: It must be preserved" while staring directly at Calhoun.

In other events, Jackson signed the Indian removal act, which forces Indians in the southeast to relocate to reservations west of the Mississippi River. About 100,000 Native Americans were relocated into the Oklahoma Territory. Many of the tribes handled the move well and were pleased with the fertile lands that they were given, but much of their culture was destroyed in the process.

It was not long after this that the Indians were required to move further west as the whites started settling in the Oklahoma Territory. During the 1830's, the most popular western destination was the Pacific northwest which was accessed by way of the Oregon Trail. The trail started in Independence, Missouri, and followed the Platte valley to the Snake valley on to the Columbia river valley.

A silver half dollar was issued to commemorate the trail and the pioneers that traveled along it. Issued at various times in the 1920's and 1930's, a decent example of the Oregon Trail commemorative half may be acquired for around $100.

American ingenuity was alive and well in the 1830's. In 1830, Peter Cooper developed the first commercial steam locomotive. It was essentially several stagecoaches linked together and pulled along a set of rails by a steam engine. Two other inventions of the decade that are still commonly encountered today are the repeating pistol by Samuel Colt and the steel plow by John Deere.

Back to politics. Andrew Jackson easily won reelection in 1832 (219 electoral votes) with Martin Van Buren (189 electoral votes) as his Vice president. They had been running against Henry Clay and John Sergeant, members of a new political party called the Whigs.

As mentioned last time, Andrew Jackson thought highly of the common person. As such, he opposed the Bank of the United States which gave special treatment to rich and important people, helping to keep them seperate from the commoners. To show his distaste for this institution, he vetoed the bill to re-charter the bank. In addition, he withdrew the government's funds from the bank and moved them to several smaller state banks.

With all of these new deposits, these smaller state banks went on a lending spree that eventually got out of hand. The chaos eventually led to the banks calling in these loans which caused the panic of 1837.

Out west, trouble was brewing south of the border. In 1834, General Antonio Lopez de Santa Anna declared himself president of Mexico and put the country under military rule. At this time, most of Texas was still part of Mexico.

Tensions rose in this area, as the white settlers wanted the freedom that they had come to expect, but it was not allowed to them in this disputed territory. American settlers from the north came south to assist the Texans, while Santa Anna sent 6000 troops north to kick some butt.

On March 2, 1836, the white settlers in Texas declared their independence from Mexico, with Sam Houston as their leader. The next day, Santa Anna's troops marched into San Antonio, Texas. There, his troops found a group of 187 Americans defending a Spanish mission called the Alamo.

Sam Houston and his troops were too far north to get to San Antonio in time to save the Alamo. All 187 people were killed, with no prisoners taken, on March 6, 1836. Persons killed included the famous Indian fighter Davy Crockett and the inventor of the Bowie knife, Jim Bowie.

The killing of the settlers at the Alamo, who were outnumbered 5000 to 187, outraged many Americans and even a number of Mexican soldiers who thought that Santa Anna had gone too far. The Texans voted to be annexed to the United States a few weeks later.

It would be nine years before the Republic of Texas would be officially admitted, as no president wished to risk war with Mexico.

This whole episode was commemorated in the 1930's by a commemorative half dollar, issued each year from 1934 to 1938. The reverse displays a picture of the Alamo along with the battle cry "Remember the Alamo". Sam Houston and Stephen Austin are also pictured (although they appear identical except for the hairdoo!). A nice mint state example of this coin can be acquired for around $100, while a circulated specimen will cost only a few dollars less.

The country's finances had improved during the decade and by 1836, the United States had no debt, and $36 million in the bank! The surplus revenue act provided the means to distribute these funds among the states, the last time that this would ever happen.

That same year, presidential elections were held. Andrew Jackson was due to retire as required after his second term. His chosen successor, Martin Van Buren, won easily, with R. M. Johnson in tow as his vice president. The Whigs never managed to decide on a candidate for this election, but they would get their act together in time for the election of 1840.

The previously mentioned panic of 1837 was caused by reckless loans made by the banks holding the deposits of the federal government. In what sounds like the 1830's version of the 1980's savings and loan crisis, numerous banks failed during the rush by depositors to withdraw funds.

The government took action to prevent the crisis from getting out of hand. The fourth and final installment of the payments from the surplus revenue act was suspended so that there would be funds available to cover the bank failures. This proved inadequate, and the government had to issue $10 million worth of bonds and go into debt again. This time, the debt would never go away, and exists today to the incredible extent of $5 trillion.

Coinage production saw the innovation of steam powered equipment which allowed mintages to increase and coins to become more uniform in size and appearance.

All coins from half cents through half dollars saw at least some level of production during the 1830's, although often not enough to satisfy public demand.

With the ratio of the value of silver and gold in constant change, there were sporadic episodes of hoarding and melting during this period, most notably the pre 1834 gold coins.

Large cents and half dollars of this era still exist in huge quantities, and may be purchased easily at virtually any coin show for a minimal expense. As mentioned above, gold coins of the mid 1830's are the earliest specimens that can be purchased without breaking the bank.

It was during the late 1830's that Christian Gobrecht produced his famous Seated Liberty silver dollar patterns. These would serve as the prototypes of the design that would grace our coins for most of the 19th century.

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 12		December 1994
	December Membership Meeting
Wed., Dec 8, 1994	Central Lutheran Church	7:00 Open 7:30 PM Meeting

MEMBERSHIP NEWS