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ACCent: The Monthly Newsletter of the Anchorage Coin Club
Membership Meeting 1st Wed. each month, 7 PM, Central Lutheran Church, 15th and Cordova
Vol. 22 No. 6
MARK YOUR CALENDARS
YOU'RE INVITED TO ATTEND
ANCHORAGE COIN CLUB ANNUAL
SUMMER PICNIC AND AUCTION
JULY 4th NOON
Lots of fun, food, prizes, and a huge auction of
great numismatic items.
Last year over one hundred fantastic numismatic
items auctioned off.
BRING THE FAMILY
AND A SIDE DISH SUCH AS A SALAD OR DESERT.
DONATION COINS ARE NEEDED
AND WILL BE PUT IN THE AUCTION.
ANCHORAGE COIN CLUB
WINNING TICKET TO BE DRAWN
AT SUMMER PICNIC
TICKETS $5 each
FOR THE FIRST TIME THIS YEAR:
27 TICKETS FOR $100
SECOND AND THIRD PRIZE TO BE GIVEN OUT
Tickets available for purchase
up to the time of the drawing
June 3rd: Short Snorters
In its time the bust half dollar was king of American coinage. The mint started with individual hand cut dies striking coins with an old screw press. A few dollar coins were struck but the the dies would break and there was not enough power to strike up a good image. The half dollar was a good compromise. Half a dollar was a significant amount of money and the machinery could handle the pressure. In the 1790's there was a severe shortage of coin silver and the mint could not keep up with the need for coins in an economy that was more than doubling every two decades. Foreign coins were familiar to people and widely circulated.
However Spanish-American coins were made of slightly finer silver but traded at par with the dollar in the West Indies so dollars were being sent south and the silver that came back was coined into dollars at a net profit. To stop this the minting of dollars was discontinued in 1803. This must have been, to some extent, a relief to the mint director because he had fewer denominations to worry about. This also made the half dollar the largest diameter coin struck in the United States.
The first half dollar was coined in 1794. It had the bust of a young Liberty with flowing hair on the obverse and a skinny eagle (small eagle) on the reverse. It was silver but had no denomination on it.
In 1796 the simple bust design was replaced by the draped bust that was copied on other silver denominations. After a couple years of no silver half dollars the heraldic eagle (large eagle) were coined. Every die was still hand cut and there was still a problem with the dies cracking. If a die from the previous year was still good a new date was carved over the last one. Along with everything else the supply of silver was still spotty causing me mintage numbers to fluctuate. Supposedly there were no half dollars coined in 1804 but, strangely, there is an 1805/4 half.
Then in in 1807 the capped bust half was put into circulation. The mint was still new at the coining business and they still did not have a steady source of silver - the war of 1812 did not help. But they had a basic design that everybody liked and they stuck with it until 1839. During that time the mint went through tremendous changes and the capped bust design was adjusted, added to, subtracted from, and refined. There were also recut dies, recut dates, and errors. Altogether there are more than 450 varieties of bust halves - more than any other series of American coins.
Overton did an exhaustive study and assigned numbers to most of them. At our last membership meeting Stan Mead told us about the reasons for these varieties. We were also shown a comprehensive set of bust half dollars.
MISNUMICAT JUMBLE PADDER__________________
Last: NEPYN-penny: The name affectionately used for the American cent. Actually it is the name of a small denomination copper British coin.
With summer obviously setting in we had a very low key gathering. It was announced that we did get the park on Elmore road July 4th and that we will not only have picnic the same place as last year we will be there the Fourth of July.
Stan gave a presentation that shed light on why there are so many early half dollar varieties. He pointed out that fact that the mint started old equipment (old even for that day) and that metal hardening wasn't what it is today. He also gave us some very informative handouts. There was also a warning in his talk that there are some very sophisticated counterfeiters out there.
We then went into the bullet auction. A record was set for the most expensive lot sold at a bullet auction. It was a type set of half dollars featuring a 1795 flowing hair half dollar as well as the five other major types.
Next membership meeting June 3rd.
If you not only know that an Overton 104 is a rare bust half dollar variety but what unique die characteristics it has...
You are probably a numismatist
An 1825 capped bust half dollar in VF. We do not know what Overton number it is. It could be one of the rare ones. It will be up to the winner of the lot to find out. The minimum bid is $60.
Meeting called to order at 7:15 PM by club secretary Larry Nakata. Following a review of correspondence the board discussed the ticket sales for the $500 bill raffle prize and noted that they are going well. Larry stated we need more coin donations for the summer picnic donation auction. He pointed out that several books and other numismatic reference items have been donated. We just need more coins.
Carl has talked to the University Center Management about having a coin show. OK has been given. Carl is presently arranging a date with the management. More to follow. Carl will also be giving a presentation on Short Snorters at our June meeting. The June membership meeting will be potluck night. We ask that members bring a dish to the meeting. Good member Bill Fivaz sent us a number of coins for the June bullet auction. The lots were reviewed and one was picked for the lot of the month. Final preparations for the summer picnic were discussed. We will need volunteers to setup and to cook the hamburgers and hotdogs. A signup sheet will be put out at our June 3rd meeting. We were then reminded that the summer July 4th picnic will be the formal membership meeting for July and that there will not be a meeting July 1st. As there was no further club business to discuss there meeting adjourned at 8:20 PM. Next board meeting June 17th.
Boundering Numismatics LLC
Helping RV'ers with their numismatic needs
Timothy Burke and Amy Burke
(702)431-4041(C) or (907)24 8-0443(H)
P.O. Box 220671
Anchorage, AK 99522-0671
COME TO THE NEXT MEMBERSHIP MEETING
BRING A POTLUCK DISH
BRING A COIN TO DONATE TO THE SUMMER AUCTION
FIND OUT THE HISTORY AND VALUE OF A
ANCHORAGE COIN CLUB
$500 NOTE FINE to VERY FINE
Come see this note.
It could become the biggest denomination in your collection.
tickets: $5/each, 5 tickets/$20
WINNING TICKET TO BE DRAWN AT OUR SUMMER PICNIC IN JULY
President: Jack Vinson
Vice President: Ed Vey
Secretary: Larry Nakata
Treasurer: Stan Mead
Board Member: John Larson
Board Member: Bill Hamilton
ACCent Editor: Loren Lucason
#91 Mike Orr: themoneymerchant.com
#110 Bill Fivaz: e-mail firstname.lastname@example.org
#210 Tom Cederlind: tomcederlind.com