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ACCent: The Monthly Newsletter of the Anchorage Coin Club
|Volume 12, Number 6||
|June Membership Meeting|
|Wed., June 2, 1999||Central Lutheran Church||
7:30 PM Meeting
Most of us started collecting coins as kids. The best way to learn all the knowledge needed to be a good numismatist is to start early. Our YN program is the best source of numismatic knowledge for kids this state has ever had. To support his program coin dealers and collectors from all over the country (as well as some from overseas) have donated numismatic items: books, coins, and collections to be auctioned off in the YN Donation Auction. The auction started at our May membership meeting where, incidentally, we gave Jeffrey Henderson an Alaska Halibut Silver Medallion for the door prize and YN Travis Olsen a book on numismatics for the membership prize. We sold 64 lots and the remaining 58 YN auction lots will be sold at our June membership meeting. All proceeds go to teaching kids (like you once were) about coins. So come to the June meeting and buy something.
Learning about coins never stops. Do you know the latest in counterfeit detection? Can you grade all coin types on sight? Do you remember it all? Even if you did remember everything you were ever taught about coins one should never stop learning and the best place to learn is a the upcoming seminar in September. This will be the first seminar we have had in three years. If we are to stay current with the changes in numismatics we will have to support the club seminars.
New quarter designs, a one dollar coin, platinum and gold bullion coins as well as a drop in gold prices, and a host of euro coins, not to mention the modem commemoratives all have served to renew an interest in numismatics. So, if you are to stay ahead, you will need to not only refresh your knowledge of coins but expand and polish your skills in the vital areas of counterfeit detection and coin grading. The September 10th through 12th Coin Seminar on these very subjects will cost $245 - money easily made up in avoiding counterfeit and overgraded coins and on the plus side finding that undergraded coin. The future of our club's ability to put on seminars depends on your support. Your expertise in numismatics may depend on our ability to put on good seminars.
Massachusetts State Quarter finalist designs
The raffle coin for example: $5 buys you a chance to win an 1847 U.S. Pre-Civil War Gold piece in VF condition. Do you know what elements make this coin a very fine - wear pattern? high points? bag marks? It is a good deal, but how good is it? The drawing for the $5 gold piece will take place at the Summer Picnic at Kincaid Park. If you do not buy enough tickets someone else will get his good deal.
The club will bring the raffle coin to the summer picnic at Kincaid Park on July 11th as well as hamburgers, hot dogs, sodas, and chips. You can bring what ever you would like in the way of hors d'oeuvres, salads, and desserts - check with Ann Brown at Roy's Coins for suggestions. Among other activities we will have a scavenger hunt with coins given out as prizes. Feel free to bring along your favorite summer games and enjoy them with the rest of us.
News from behind the counter:
Mike McKinnon's coins are now being sold from the South Anchorage Excalibur across the parking lot from Walmart next to Blockbusters.
Ben Guild's "Hole in the Wall Coin Shop" is in the wall at Kathy's Klassics in Eagle River at the Old Eagle River Mall.
Roy Brown is now spending more time at his shop on Spenard Road, drop by and say hello.
Bill Hamilton's "Loose Change Coin Shop" and Mike Robuck's "Alaska Mint" will be in the middle of things this summer there will be Wednesday Market on 4th Avenue.
ANCHORAGE COIN CLUB
Where Numismatists Are #1
For The Coin Collecting Crowd
The Club With The Silver Lining
The Club For The Coin Collecting Crowd
Where Numismatists Get The Gist
or something in Latin:
Static Pro Nummum
(anchorage for coins)
If you have a better suggestion for a club slogan and the club thinks it is the best, we will use it on our newsletter and give you a very nice prize for the best slogan. The nature of this prize will not be revealed until the day of the award..... Your Editors.
Schedule of Events for the Month of June:
1. Monthly Membership Meeting: June 2nd (Wednesday) at 7:30 PM at the Central Lutheran Church. The featured event for the evening will be the second half of the "YN Numismatic Donation Auction", See list of donated items in this newsletter.
2. YN (Young Numismatists) Meeting: June 11th (Friday) 7:00 PM at the Central Lutheran Church (corner of Cordova St. and 15th Avenue). YNs. club members, and general public welcomed. The session will be on the subject of "Collecting U.S. Paper Currency for the YN".
3. Anchorage Coin Club Board Meeting: June 16th (Wednesday) 7:00 PM at the Central Lutheran Church. Club members welcomed.
Maryland State Quarter finalist designs
Minutes of the May 19th Board meeting:
The Board meeting was called to order at 7:15 PM.
First order of business discussed was the club's July 11th Summer picnic. Larry Nakata stated all arrangements have been made for use of the Kincaid Park Outdoor Pavilion that Sunday afternoon. A large BBQ grill will be provided by the park for our club event. President Loren Lucason is organizing the game events for the summer picnic and needs help from our members in setting up events. Members are asked to get with Loren in helping out. Meantime, Ann Brown will be calling members next month on a headcount for attendance at the Summer picnic and "potluck" items needed. The club will provide the basics: hotdogs. hamburgers, chips, soda pop, plates, and utensils.
Next on the agenda was a progress report on the club's Sept. 10th - 12th seminar. At this time the course books have arrived for the seminar. Thus far, some 20 people have committed to attend this seminar. With the "break even" point at 21 people, the club still needs to have more commitments from our members on attendance. Even though we have not reached the breakeven point, a commitment has been made to proceed. All reservations have been confirmed with the Westcoast International Inn for this seminar.
The club schedules for the months of June, July, and August were then reviewed.
The June 2nd membership meeting will see the 2nd half of our YN Donation Numismatic Auction. The June 11th YN meeting will see a presentation on "Collecting U.S. Paper Currency for the YN".
South Carolina State Quarter finalist designs
The month of July will feature our club's Summer Picnic on Sunday afternoon, July 11th. As in years passed our Membership and YN meetings are combined into one event and held on this day. It's a time for all to enjoy a nice summer afternoon.
Our August 4th membership meeting will feature a slide presentation by member John Larson on "Foreign Paper Money". There will be no YN meeting held in the month of August.
President Loren Lucason then went over the various club slogans that have been submitted thus far by our members. The club's new slogan will be determined at our July 11th summer picnic by members in attendance. The winner will receive a special numismatic prize, which will not be revealed until the day of the award.
Following the Treasurer's report, the Board then reviewed correspondence, paid bills, and approved a patron donation of $50 to the ANA for the upcoming August "World of Money" event in Chicago.
As there was no further business, the Board meeting was adjourned at 8:30 PM.
Virginia State Quarter finalist designs
We had a pretty good session at the May 14th YN meeting. Featured was a presentation on "Collecting U.S. Proof Coins for the YN".
The U.S. Proof Coins display that was shown al last month's Northway Mall Coin Show was brought over for this session. The YNs were able to see a 1950 Proof Set, a 1950-63 Franklin Half Dollar proof set, various U.S. proof sets minted over the years, and proof gold coins.
We went over how proof coins are minted, how easy it is to collect these type coins, how inexpensive they can be, and the difference between cameo and regular proof coins. YNs would be well advised to always be on the lookout for cameo proof coins when making a purchase. Just take a look at the difference in price between a cameo and regular proof Franklin Half Dollar. You'll quickly see what I mean.
Each YN in attendance was given a 1988 U.S. Olympic Proof Silver Dollar to add to their collections. Thanks go to Roy Brown for providing these coins for the session. The balance of the evening was spent viewing a VHS tape: "The Making of Money - The History of U.S. Paper Currency" by the U.S. Bureau of Engraving and Printing. The tape was shown as a prelude to next month's presentation on "Collecting U.S. Paper Currency for the YN".
Hope to see a lot of YNs at our next YN meeting on Friday evening, June 11th.
Also... a reminder that the 2nd half of the YN Donation Numismatic Auction will be featured at our coin club's June 2nd membership meeting. There are still 58 lots that will be auctioned off that evening. Proceeds go to our club's YN Program.
One last item.... Nicky Bilak won the door prize at the YN meeting: a 1967 Canadian Proof-like Set.
See you at our June meetings............
New Hampshire State Quarter finalist designs
In this article I will depart from my usual venue of discussing Ancient coins, which is my primary focus these days, to address you YN's out there (and some of us old-timers) who may have had your attention drawn to those new fancy quarters being promoted wherever you look. Now before anybody gets the idea that I am going to slam this series, or it's effort to jump-start the coin collecting and YN community, let me just say that I am only going to offer up some common sense advice to be taken or left aside as seen fit regarding this particular series.
Recently, on a fine Saturday morning I stopped at my favorite local coin shop and picked up a copy of Numismatic News and was stunned to see the news that the U.S. Mint's own web server was brought down by a flood of orders it had received upon opening the Delaware first day covers for sale. It seems that the poor machine had received so many hits (over 2000 per minute) that it went into terminal overload and decided to lay down and go to sleep. I'm sure the sound of a cash register shutting down is enough to make a mint employee push every panic button in sight which I'm sure is what happened because they had the poor little electronic workhorse up and running after 5 hours. Be confident in knowing that the U.S. Mint is now up and running and ready to accept your order 24 hours a day once again.
Please pardon my jab at the Mint, but as many old-timers know who have seen how value is affected on the aftermarket of most modern Mint material, it may pay you (especially you YN's) to wait until the hype dies down. I know most of you youngsters who collect coins have something in common with us oldsters; you have a BUDGET. And it seems to me that pitying $19.95 for a quarter in a cardboard holder (proof or not) is a little extreme. But, my hat is off to the Mint for being able to pull it off with a smile and a thank you.
Alright.... I for one happen to like quarters. I do not own or even care to start a set, but I like them. I think this 50 States set is probably the most intelligent effort I have yet seen come down the pike in a long time for us commoners to pursue and certainly it's the only thing out there that you stand a chance of completing from circulation eventually. That's right.... the saving grace is that the business strikes of these 50 issues are SUPPOSED to circulate, assuming that the large mail order dealers don't pilfer all the mint-sewn bags for themselves, you could theoretically build a set from change over the next 10 years. A great idea for the young beginner wanting a challenging hobby.
But Proofs and First Day Covers? Come on..... how many of you collect quarters seriously or even thought about them much before this program got started? I will only put forward some advice I learned the very hard way over many years of both buying and selling (and many other coin experts advise): Buy what you like and are TRULY interested in. Buy with an intention of building a SET of coins (not an accumulation) that has real collector value and interest. And finally, buy the best condition you can afford. In the case of Washington quarters, this is not a big deal until you get back into the silver issues, but since I am directing this to you YNs, I will assume we are talking about fairly meager amounts of money here. If you love quarters and love the looks of the Proofs, by all means buy them, but buy them because you LIKE them, not because you think they might be a great investment someday. The odds are against you.
Now I won't say that there is not a demand for these coins. Currently there is. And a big demand according to what happened to the Mint's own server. But demand does not mean rarity. In the case of the Proof examples of these coins, suffice it to say that the full mintage will be saved and hoarded in encapsulated pristine condition and will be around for a long, long, time before true rarity is ever seen. As is the case with most oilier mint material, it will filter down to the secondary markets eventually and prices will settle to a more fair determination of market value. This has happened to most all other Mint products that I have been involved with.
So what is the lowly collector to do? Avoid Mint products like the plague? Certainly not. What I want to get across to all of you is that we are involved in a hobby first and foremost. The pleasure we receive from our coins would be a hard thing to put a price tag on and I hope that most of you do get out your coins once in a while and get re-acquainted with your collection rather than letting it molder in a box or album under the bed. As far as Washington quarters go, who am I to say what will or will not be? A contrarian may salt away a few rolls of each of the business strike coins for the long haul and may be rewarded with an appreciable gain. Why business strikes? Well, for one, since business strike coinage is intended for circulation, many of these coins may end up being spent and therefore used. Salting away some nice UNC's may not be a bad idea. Also, keep in mind that this is a 10 year series.
Sure you have some hype now, but what happens after 5 or 6 years when public apathy appears and people are no longer eager to be the first in line to buy them? And don't talk to me about the Bicentennial quarters, that was a one-year issue. We're talking 10 years here. In the early Commemorative series, many of the later coins suffered low mintage because of a lack of customer demand among other reasons and today some of these coins far exceed what would have originally been paid. This is not an investment column so I will get off that soapbox. But I would like you YN's (and some of us parents) to consider what you are buying before laying your hard earned money on the counter. Do you like what you see? Will you continue and pursue the set? Will you learn something by buying it? These are questions I hope you all ask yourselves when building your collections. As for me, I plan on buying a few business strikes because I like the way the reverses look. To me, the ideals they bring out regarding each State's part in building our great Country is reason enough for me to own a few and maybe learn a fact or two about the 50 great States in our Union. I will never consider them to be anything more than $12.50 in change, but maybe one day they will surprise me. Until that day I will take them out once in a while and admire them as momentos of our country's history. THAT is what my money is paying for........
Editors Note: The various designs under consideration for next year's quarters are shown in this newsletter.
Editor's Note: Our club President, Loren Lucason has wanted to see a bit of Alaskan flavor in our club's newsletter. Since your editors are always on the lookout for new ideas, we decided to do a series on Alaska Tokens.
The Alaska Rural Rehabilitation Corporation (ARRC) "Alaska Bingles" / Matanuska, Alaska
In 1934. during "The Great Depression", President Franklin D. Roosevelt's "New Deal" - FRA - Federal Relief Administration's plan, decided to move 200 farm families "roughly 1000 people" from the "Mid-West Dust Bowl". Minnesota, Wisconsin, & Michigan to form a colony in the Matanuska Valley, which is located 50 miles north of Anchorage.
The gold strikes had petered out. The polar bears were in command. And who cared if the Eskimos shot up a few walruses - or a few wolves. A few ex-sourdoughs however, remembered that when the brutal Yukon winters passed and spring approached, there were rich farmlands in abundance. There was land that hungered for the plow.
When the settlers sailed from Seattle, on the army transport "St. Mihiel", they had hopefully left behind the memories of drought, dust storms, foreclosures. & financial ruin. Bands played, crowds waved as they sailed north. Little did they realize that their fellow passengers were the workers who were going to build the shelters expected to be waiting for them when they arrived, & little did the workers realize that all the materials to build the shelters were in the hold of the ship, but no tools were included.
Despite this, the majority stuck with the experiment. Forty acre lots were assigned by the luck of the draw. There were 8,000 acres for homesteading and 18,000 acres for grazing land.
The majority of the farmers were from Scandinavian stock, as they figured they could stand the rigorous weather the best. Each farmer was allotted 40 acres, which cost $3,500.00 at 3% interest. Although the amortization period was 30 years, no payments were to be made on Principle or interest until the 5th year, to give the settlers time to become self- sufficient.
Alaska Rural Rehabilitation Corporation ARRC Bingles
Upon arrival at the project, they were temporarily housed either in railroad cars at Matanuska or the tent city at Palmer. After they completed the drawing of their lots of land, they were moved to one of the ten tent camps, located close to each section of land.
Subsistence allotments were made, varying from forty five dollars for a family of two, to eighty five dollars for a family of five per month, and could be drawn on at the ARRC store in Palmer. There was plenty of work to be done checking, storing & transporting freight, assistance on civic projects involving building, road clearing, construction, and maintenance... for which they were paid fifty cents per hour.
All the wages and allotments were totaled and subtracted in a book at the ARRC store, but after several months of this, there were a lot of complaints about the prices and accounting. A federal investigator was sent up to check it out, and saw how exorbitant the prices were, and that some of them were being charged for items they did not receive... because nobody received receipts. He then replaced the commissary manager, started to work on some form of circulating exchange, and came up with the idea of tokens to he issued and only used at the commissary store.
The idea was implemented and some one came up with the idea of calling them Singles "a nickname for poker chips". The tokens were to have the initials of the name of community on them. They issued - one cent - five cent - ten cent - twenty five cent - fifty cent - one dollar - five dollar - ten dollar pieces. The cent thru dollar tokens were the same size as our regular circulating coins, "except the one cent which is octagonal", and made of aluminum. The five & ten dollar pieces were made of brass.
The tokens were only to be used at the ARRC store for food, clothing, and other merchandise much like "modern day food stamps". However, after a while all the local Bars, Taverns, and other businesses (even some "over the tracks") caught on to what was happening... and started to accept them. After all, they could use them at the store too. So after six months these bingles were discontinued.
Full sets of ARRC tokens are pretty scarce today. The U.S. government demonetized them for redemption.... with all redeemed tokens destroyed. There were 250 surviving uncirculated sets. Commemorative 50th anniversary ARRC coins were minted in 1985. These were designed like the original, except the reverse showing a "50th Anniversary" designation. Today a nice set of "Bingles" sell for $500... with the 50th year set selling for $30.....
Donated by Bill Fivaz (Life Member #7)
66. 1947- S/S Lincoln Cent BU RPM #2.
67. 1947-S/S Lincoln Cent BU RPM #3.
68. 1953- S/S Lincoln Cent BU RPM #2.
69. 1961-D/Horizontal D Lincoln Cent BU RPM #1.
70. 1942- P/P Jefferson 5c MS-65 with reverse die break RPM #3.
71. 1944-D/D Jefferson 5c MS-65 RPM #3.
72. 1936P Buffalo 5c in AU-58 condition.
73. 1937P Buffalo 5c in AU-58 condition.
74. 1946 Roosevelt 10c in BU condition.
75. 1947-D Roosevelt 10c in BU condition.
76. 1955-S Roosevelt 10c in BU condition.
77. 1955-D Roosevelt 10c in BU condition.
78. Royal Arsenal Cooperative Society Ltd 5 pound doubled die.
79. Auctioned off at the May Membership meeting.
80. 1916 Liberty Head 10c / Flattened down "punched out" Liberty image on 10c.
81. Genuine 1943 Copper cent / Authenticated by Bill Fivaz and Anchorage Coin Club Board.
Donated by Robin Sisler (Member #117)
82. Two (2) Error / Variety coins: 1950 S/D Washington 25c VG Breen #4351 OMM #1 1949 S/S Franklin Half Dollar VG.
83. Three (3) Error / Variety coins: 1864L Indian Cent Good, repunched date, Snow 4 variety, 1867 Indian Cent VG, repunched date 67/67, Snow 1 variety, FS# 1-008 1903 Indian Cent AU, "3 North" variety.
Donated by Bill Hamilton (Member #108)
84. Four (4) Proof Lincoln Cents: 1969-S, 1970-S, 1971-S, 1974-S.
85. Set of (20) Lincoln Cents: Various dates 1943-S to 1973. Each cent in an individual plastic holder.
86. Auctioned off at the May Membership meeting.
87. 1965 Lyndon B. Johnson Presidential Inaugural Medal.
88. 1965 Henry H. Fowler / Secretary of Treasury Medallion.
89. Set of three (3) American Revolution Bicentennial Commemorative Medals: 1972, 1974, 1976.
90. Capital Type Plastic Holder: U.S. Nickel Type Set.
91. Set of four (4) Whitman folders; Lincoln Cent 1909-1940, Indian Head Cent, Roosevelt Dime, One-A-Year Dime Collection folder.
92. Set of three (3) Whitman folders: Lincoln Cent 1909-40, Buffalo Nickel, 20th Century Type U.S. Coins. One (1) each Treat Hobby Coin folder, 1 Cent to 1 Dollar.
93. Set of three (3) Whitman folders: Lincoln Cent 1909-40 / Buffalo Nickel / Franklin Half Dollar. One (1) each Treat Hobby Coin folder, Kennedy Half Dollar.
94. Set of three (3) Whitman folders: Lincoln Cent 1909-40 / Indian Head Cent / Buffalo Nickel.
95. Set of four (4) Whitman folders: Lincoln Cent 1909-40 / Indian Head Cent/ Buffalo Nickel / Roosevelt Dime.
96. Set of four (4) Whitman folders: Indian Head Cent / Kennedy Half Dollar / U.S. Silver Dollars / 20th Century U.S. Type Coins.
97. Set of four (4) Whitman folders: Washington Quarters 1932-45 / Washington Quarters 1946-59 / Washington Quarters 1960- / Washington Quarters 1965- Present.
98. Set of three (3) Coinmaster Albums: Canadian Large Cents 1858-1920 / Canadian Halves 1870- / Franklin Half Dollars. One (1) each Silver Dollar Display Folder, U.S. Silver Dollar Society.
99. One (1) each Dansco Deluxe Album; U.S. Dimes 1892-Present.
100.One (1 ) book "1991 Standard Catalog of World Coins, 1801-1991, 18th Edition", Krause Publications.
Donated by John Larson (Member #18)
101. Set of seventeen (17) Auction Catalogs and Magazines focused on International Paper Currency and Banknotes: R. M. Smythe / International Bank Note Society Journals / MRI's Bankers Guide to Foreign Currency.
Donated by Robert Hall (Member #1)
102. Book: "Confessions of a Numismatic Fanatic: How to Get the Most Out of Coin Collecting" c. 1992 by Prank. S. Robinson.
Donated by Bill Hamilton (Member #108)
103. Partial set of circulated Lincoln cents in Whitman folder (1941-1974).
Donated by Anthony Swiatek (Member # 242)
104. One (1) each ANA Centennial Coin "1991 Isle of Man Crown", signed by ANA President Swiatek. One (1) each "1976 Bicentennial Commemorative Medal" commemorating the Declaration of Independence.
105. Same as Lot # 104.
106. Thirty two (32) assorted circulated Lincoln cents consisting of: One (1) ea 1907 Indian Cent / Two (2) ea 1928 Lincoln cents / Four (4) ea 1943 Lincoln cents / Four (4) ea 1960 large date Lincoln cents / Two (2) ea 1960 sm. date Lincoln cents/ One (1) ea 1960-D large Date Lincoln cent / Eighteen (18) ea 1960-D sm. date Lincoln cents.
Donated by Jim Hill (Member # 121)
107. Two (2) each Lincoln cents: 1955/5-D Poor Man's doubled die cent / 1971-S Proof cent.
108. 1995-D Kennedy Half Dollar MS-64.
Donated by Mike Orr (Member # 91)
109. 1966 Australian Silver 50 cent in BU condition.
110. 1937-F Germany Silver 2 Reichmark in XF condition.
111. 1953 Panama Silver 1/2 Balboa in BU condition.
112. 1934 New Zealand Silver Florin in VF condition.
113. 1964 Canada Silver Proof-like 50 cent.
114. 1964 Canada Silver Proof-like Dollar.
115. 1966 Canada Silver Proof-like Dollar.
Donated by Frank Jasper (Member # 249)
116. 1960 Small dale Lincoln Cent in BU condition.
117. 1937-S Lincoln Cent in BU condition.
118. 1903 Morgan Dollar in BU condition.
119. 1898 Morgan Dollar in AU-58 condition.
120. 1988 Silver Eagle in BU condition.
Donated by John Larson (Member # 18)
121. Fourteen (14) unattributed Roman Bronze ancient coins.
122. Ancient: Roman Bronze/Constantine.
123. Various Lincoln Cents: Thirteen (13) with dates from 1917 to 1930, Good or better condition. One (1) each 1939-S Lincoln Cent in VF condition.
124. 1923 Standing Liberty Quarter in Good condition.
Donated by Mike McKinnon (Member # 26)
125 One (1) book "The Comprehensive U.S. Silver Dollar Encyclopedia" c. 1992 by John W. Highfill.
Thanks go to all of the people and organizations who donated numismatic materials for this year's YN Donation Numismatic Auction. Members or interested parties wishing to place a mail bid can do so by corresponding to our coin club's address: Anchorage Coin Club/ P.O. Box 230169/ Anchorage, AK 99523.
Lucason Eves: 272-3700
V. President- John Larson Eves: 276-3292
Treasurer- Robert Hall Eves: 561-8343
Secretary- Larry Nakata Days: 269-5603
Club Archivist / Photographer - Robin Sisler
Board of Directors
Roy Brown- Days:
Eves: 3 38-7488
Mike Orr- Eves: 522-3679
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.
Correspondence Address: Anchorage Coin Club, P.O. Box 230169, Anchorage,