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Welcome to The E-Sylum: Volume 9, Number 49, December 3, 2006: an electronic publication of the Numismatic Bibliomania Society. Copyright (c) 2006, The Numismatic Bibliomania Society. WAYNE's WORDS Among our recent subscribers are Dave Baldwin (courtesy of Harold Levi), Michael Doran, Eric Leighton, Chris Freeman and Daniel B. Van Voorhis. Welcome aboard! We now have 1,009 subscribers. This week's issue is another beefy one. Following up on the news of our 1,000th subscriber is news of a new tool we've created for numismatic researchers - a search engine restricted to only web sites of numismatic interest. Former ANA Librarian Nancy Green recommends a fascinating book on the history and philosophy of collecting that should ring true for we inmates of bibliomania-world, and David Sklow, recent holder of that position, speaks out in Coin World about the organization and his dismissal. The most far-reaching news this week is word of a judge's ruling that could lead to the redesign of U.S. paper money to aid the blind. Other important news, of interest to the many fans of minting technology among us, is word about the sale of The Gallery Mint, Inc., with reassurances that the fascinating traveling mint exhibit and Ron Landis' career as an engraver will live on. Dick Johnson and others provide additional background on the late William Louth, former head of Medallic Art Co. Other readers provide details on the Italian Mint Museum. Research queries this week include information on the 1792 Washington cent in gold. Private-issue money seems to be a theme this week, with items on Labor Exchange Notes, Liberty Dollars, and the Linden dollars of the online world Second Life. Katie Jaeger discusses the scientific value of unearthed coins and other ancient artifacts. To learn what several thousand joules of energy and do to a hapless coin, read on. Have a great week, everyone! Wayne Homren Numismatic Bibliomania Society DICK JOHNSON MARKS A MILESTONE - 500 E-SYLUM SUBMISSIONS Although reaching the 1,000 subscriber mark has been grabbing our headlines lately, it's not the only milestone worth noting. Dick Johnson writes: "This is my 500th article for E-Sylum. Thanks to Wayne Homren for creating this Internet venue and for allowing me -- as well as hundreds of other numismatists -- to vent virtually at will and unrestrained on a mélange of numismatic subjects. I write these articles as the mood moves me when some item in the news or in The E-Sylum triggers some thoughts I wish to share with others (my 67 years in numismaticssince February 1939 when I was 9 years oldhas provided me with the wide range of experiences in the field that I feel permits me to express these thoughts). Wayne has added a new dimension to numismatic journalism, a new medium, in creating The E-Sylum. It provides a freshness to the field and a platform for those of us who want to inquire, to advise, to bitch, to gossip, to inform, to report, to discourse. Every reader has expanded his knowledge of numismatics by the weekly review of this Internet newsletter. I know I have learned immensely from just reading this weekly missal. This is shared now by 1,000 kindred readers. The E-Sylum has become a valuable numismatic information resource. But for whatever I write, or others write, it is edited by a super knowledgeable numismatist. What filters through our minds is again filtered through Wayne’s mind (the ideal function of an editor). The E-Sylum reader receives a distillation of valuable numismatic lore unlike anything else and unavailable anywhere else. What you read each week is timely, numismatically appropriate and usually accurate. (If it is not accurate you will certainly learn that it isn’t so the following weekI like that! -- and I have experienced that feedback numerous times.) My only hope is that readers have found interesting whatever I have written. But the praise goes to Wayne for his unrequited effort in editing and publishing this every week, EVERY WEEK! For nearly ten years!! And a "thank you" also to the 119 readers who have responded to something I wrote, or, who wrote something that triggered my response. We shared a numismatic experience 227 times in these columns. (Infrequently I will write something outrageous just to elicit response from our readersa recent example is an intermingling of William and Charles Barber’s biographies! After all, this is an audience participation organ.) Please continue to respond in the future! Good or bad, I welcome learning something new. I welcome criticism. I learn more from that than I do praise. Thank you all! Wayne, stage front and take a bow!" [Thanks, Dick. I'm not one for taking bows, but it is rewarding to know how well this little newsletter has been received across the hobby. It's hard to top, but there's always room for improvement. As we approached the 1,000 subscriber milestone I wondered to myself how make this body of information even more useful. As luck would have it, a new feature rolled out by Google led me to roll up my sleeves and try something new - read all about it in the next item. Please give it a try, everyone! -Editor] NUMISMATIC SEARCH ENGINE DEBUTS Wouldn't it be great if you could do a web search ONLY on sites that relate directly to numismatics? Well, now you can. Using the sites previously discussed in our Featured Web Site section or mentioned in E-Sylum articles, I've created a numismatics-only custom search engine using Google. Here's how I describe it on the new Coin and Paper Money search engine "home page": "Search coin and paper money web sites hand-picked for some of the best numismatic research information available on the web. Many have been highlighted as Featured Web Sites in The E-Sylum, our award- winning weekly email newsletter for researchers, writers and collectors of coins, medals, tokens, banknotes and other paper money. E-Sylum contributors include many of the top numismatic authors and dealers in the U.S. and the world." The URL for the numismatic search engine is: coinbooks.org/search The first web site added? Our own, of course: coinbooks.org. This ensures that the back issues of The E-Sylum are included. Next came many of the top numismatic auction house sites, since there is a great deal of good research information there. After that came many of the "usual suspects" - the major national, state, and specialty organization web sites, numismatic museums, mints, central banks etc. Many of these also include some good research material. Then came the Featured Web Sites. These are the real key to making the customized search engine useful. Many came recommended by our readership and all have been vetted by me. Sites with little original material, scanty content or offerings for sale with little accompanying information are excluded. A number of sites are unfortunately no longer available, and these had to be excluded. The engine description says "hand-picked", and that's very true. Literally true as well - my mouse-operating hand is sore from all the clicking. What's not included? Mainstream publishing sites like the New York Times, sites relating to non-numismatic history, and sites dealing with non-numismatic literature. Including these would dilute the laser-focus on numismatic topics. However, where individual pages on mainstream sites do refer to numismatic topics, these are included. For example, npr.org archives many National Public Radio stories, and if a particular story relates to numismatics, that particular page is included in the index. Many E-Sylum articles refer to individual news articles from publications around the world, and these particular web pages (assuming they still exist) are in the search engine as well. For example, the query "50 states quarter launch ceremony" locates contemporary articles on the launch parties for the Colorado, Illinois, Iowa, Kansas, Maine and Rhode Island coins. By excluding most non-numismatic sites, searches for numismatic connections can be very targeted. For example, simply entering "Zachary Taylor" into the numismatic search engine produces references to Taylor medals in the E-Sylum archive, on the Stack's, Coin World, and the U.S. Mint sites. The same search on the full-blown Google search engine produces little numismatic information. Other name searches such as "Martin Beistle" are also quite targeted, excluding similar "hits" on most non-numismatic web sites. Personal name searches are also quite informative - a very quick way to get broad background on any numismatic personality. I know you're dying to do it, so go ahead - do a vanity search on your own name. Searching for "Plagiarism" locates articles on numismatic plagiarism as well as sites with information on how to check for it or guard against it. Searching for "Liberty Dollar" locates a large number of articles on NORFED's private coin as well as items on Seated Liberty Dollars. As with any search engine, the more specific your query, the more specific your query, the more targeted the results. Using "seated liberty dollar" as a query, the result is a bullseye - the top links are the CoinFacts page on Seated Liberty dollars and a listing of Seated Liberty dollars lots sold by Bowers and Merena. To make the search engine as complete and current as possible, we rolled up our sleeves and built a tool to help. Many thanks to John Nebel for creating a program to cull all web links from our E-Sylum archive. After reviewing the list John's program generated and trimming it appropriately, I added these links to the search engine, bringing the total number of indexed web sites to well over 3,000. NBS webmaster Bruce Perdue added a new page for the search engine to our web site for easy access. Each week John's program will extract the web links for all web sites mentioned in the latest E-Sylum issue, and I'll add these to the search engine to keep it current. Remember, this is a work in progress. A search engine is like a big hulking machine with lots of knobs and levers to push. We'll continue to fine-tune it based on your feedback. Please give it a try and keep coming back whenever you want a more targeted search for numismatic information. Have a web site that ought to be included? Let us know. Getting funny results? Not seeing the search results you expect? Let us know that, too. Based on your input we'll turn the knobs and levers and see if we can improve the search results for everyone. Write to me anytime at whomren@coinlibrary.com. To use the numismatic search engine, see: coinbooks.org/search/ BOOK: AN INTIMATE HISTORY OF COLLECTORS AND COLLECTING Former ANA Librarian Nancy Green writes: "I thought E-Sylum readers would like to know about an interesting book I have been reading: "To Have and to Hold: An Intimate History of Collectors and Collecting", by Philipp Blom. There is not much mention of numismatic collections but his discussion of the history and philosophy of collecting is fascinating. The book was published in 2002. The philosophy and psychology of collecting anything is one of my special interests. One is either a collector or not. There are degrees of obsession but the basic tendency is like a switch, either on or off. Thanks for all your excellent work in keeping us bibliophiles connected and providing a meeting place for discussions." FORMER ANA LIBRARIAN SKLOW SPEAKS OUT This must be our week for former ANA librarians. David Sklow, former director of the ANA’s Library and Research Center, speaks out in a Guest Commentary in the December 11, 2006 issue of Coin World. It's a lengthy piece and readers should see that publication for the full text. With permission, here are the parts relating to library matters of particular interest to numismatic bibliophiles and researchers: Sklow writes: "My removal from the staff can be directly attributed to my inquiries into budgetary matters. I questioned why funds donated to the library for book purchases are not used for that purpose. I also inquired as to when the funds from the annual Summer Seminar book sale would be available to the library for book purchases and was told these funds would go into the general operating budget. "When I asked the ANA’s fund development manager and the ANA’s controller why a library fund for library donations did not exist (other than the Bass Foundation Fund), why the library budget included retired employees’ dispersals and why the library’s salary line item far exceeded that of the employees in the department, I was given a warning ... that I had angered the executive director and that I was not to discuss financial matters with other staff members. "If you cannot discuss financial matters with the fund development manager and the controller, whom exactly can you ask? Certainly not the Finance Committee. It no longer exists." [Below are links to two previous E-Sylum articles triggered by news of Sklow's dismissal by the ANA's Executive Director. The first article includes the email addresses of ANA Board members for those wishing to contact the organization regarding these matters. -Editor] THE ANA AND THE BROTHERHOOD AND SISTERHOOD OF NUMISMATICS esylum_v09n47a04.html ANA EXECUTIVE DIRECTOR CONTRACT EXTENSION UPDATE esylum_v09n48a11.html Regarding the second article, Bill Rosenblum writes: "In October employees at ANA headquarters were visited by someone who wanted their opinion about the Executive Director for the possibility of extending his contract. They were told that their answers would be confidential although at least some did not feel they would be. The question is, who hired this person? Was it the Board?" EXECUTIVE DIRECTOR RESPONDS REGARDING LIBRARY BUDGET ISSUES In response to a query by E-Sylum reader Nick Graver, American Numismatic Association Executive Director Chris Cipoletti writes: "The funds raised from the library book sale go to support the library. The library is not self sustaining and even with money coming from the library book sale and other small donations, the library does not generate enough income to operate without support from other areas of the ANA. So the book sale funds, even if more than budgeted, help offset library deficits. There is a budget for book purchases that is a part of our annual budget and that allows for purchase of materials for the library regardless of whether revenue projections for the library book sale are met or exceeded. This expense item is approved by the board and is adjusted only by board action. We are also planning a sale of duplicate materials from the library in 2007. The funds raised from that sale are projected to go into the library fund (which is a part of what we call the endowment fund managed by Sanford Bernstein, our investment advisors). Unlike the annual book sale in conjunction with Summer Seminar, which raises funds to assist library operations, the rare book room sale is designed to raise funds to support future purchases (capital for example) and major initiatives of the library, not general operations. I hope this helps explain the issue." JUDGE RULES U.S. PAPER CURRENCY MUST CHANGE TO HELP THE BLIND Stephen Pradier forwarded this November 28 FOX News article about a judge's ruling that could have long-lasting effects on U.S. paper money: "American paper money represents an unfair impediment to the blind, and the Treasury Department must come up with new U.S. currency to help the visually impaired use cash, a federal judge ruled Tuesday. U.S. District Judge James Robertson said keeping all U.S. currency the same size and texture violates the Rehabilitation Act, which prohibits discrimination on the basis of disability in government programs. "Of the more than 180 countries that issue paper currency, only the United States prints bills that are identical in size and color in all their denominations," Robertson wrote in his ruling. "More than 100 of the other issuers vary their bills in size according to denomination, and every other issuer includes at least some features that help the visually impaired." "In the lawsuit, which has been in the court system for four years, government attorneys argued that forcing the Treasury Department to change the size of the bills or add texture would make it harder to prevent counterfeiting. Robertson was not swayed. "The fact that each of these features is currently used in other currencies suggests that, at least on the face of things, such accommodations are reasonable," he wrote." "Robertson wouldn't say how Treasury must do it, but he gave the government agency 10 days to start working on new bills that the blind can tell apart. The Treasury Department refused to comment on the case, saying that it's still pending. Paré said that his organization wasn't involved in the lawsuit, and he can't speak for the Treasury Department, but he did "get the sense that it was going to be appealed." To read the complete article, see: Full Story Andrew W. Pollock forwarded this article from The Washington Times: Full Story The vending machine industry has already responded in protest of the decision: "If the government is mandated to change U.S. currency, there would be a tremendous financial impact across a number of industries, including the automated vending industry," said Jim Brinton, a director of the National Automatic Merchandising Association (NAMA), a trade association of the food and refreshment vending industry. There are 7 million food and beverage machines in the United States, and 1.5 million of them accept both $1 and $5 bills, according to NAMA. The vending machine industry would have to spend an estimated $200 to $300 to retrofit each machine, Mr. Brinton said." To read the complete article, see: Full Story GALLERY MINT INC. AND THE GALLERY MINT MUSEUM FOUNDATION There is (understandably) a great deal of confusion in the numismatic community between the nonprofit Gallery Mint Museum Foundation (GMMF) and the original for-profit Gallery Mint Inc. As noted previously in The E-Sylum, the nonprofit GMMF recently announced the establishment of its numismatic publications series. This week, the sale of the for-profit Gallery Mint Inc. was announced, ending speculation over its fate and that of Ron Landis. A press release was published on Thursday, and here are some key excerpts: "Gallery Mint Inc., the private mint founded by master engraver Ron Landis and his late partner Joe Rust fifteen years ago, has been sold to a limited partnership that includes former GMI employees. The new company, Striker Token and Medal Inc., will continue operating in the same plant in northwest Arkansas and will continue producing the company’s signature high-quality reproduction coinage. ".. in addition to offering reproduction coins, Striker will also now accept private commissions from individuals, businesses and coin clubs interested in low-volume runs of tokens and medals. "We have totally redesigned the Mini-mint demonstration that was so popular at coin shows for the past decade ... The new exhibits and demonstration is scheduled to debut at the 50th Annual Money Show of the Southwest in Houston in late January, 2007. "Rust and Landis formed Gallery Mint Museum in 1992. In 2005, the company split into two different organizations: Gallery Mint Museum Foundation (GMMF), and Gallery Mint Incorporated (GMI). This sale completes the separation of the business side of GMI from the non-profit GMMF, a 501(c)(3) organization dedicated to the preservation of the art and technology of the minting process. “Now that GMI has been purchased by Striker, there should not be any more confusion over the Gallery Mint name,” said Foster. “The only Gallery Mint is the non-profit museum.” "The sale of GMI includes all of the minting equipment, dies and rights of reproduction to those dies. The company mailing address will remain the same but there is a new telephone system and WATS number. Landis will continue his association with the company he founded as a consultant. "For more information about purchasing reproduction coinage or placing an order for tokens or medals, contact Striker at 1-888-688-3330, email them at info@striker-mfg.com or write Striker Token and Medal, PO Box 706, Eureka Springs, AR 72632. For information about Striker Inc. contact Will Foster at 479-695-6043. The company’s website www.striker-mfg.com, will allow on-line purchasing of the company product line and will be operational shortly." OBITUARY WILLIAM LOUTH OF MEDALLIC ART COMPANY On November 30 the Danbury, CT News-Times published a lengthy obituary of Bill Louth, former head of Medallic Art Company. The reporter interviewed former MACo employees Hugo Greco and Dick Johnson. Here are some excerpts: "William T. Louth, a former Danbury medal manufacturer whose company's customers included U.S. presidents, Pulitzer Prize winners and championship athletes, died Nov. 17 on Cape Cod. He was 80 years old and lived in West Harwich, Mass. "Louth was the president and director of Medallic Art Co. in New York City from 1961 to 1976, having joined the firm, which was owned by his uncle, in 1946 after service in the Navy." "William T. Louth greatly influenced medallic art in America for over two decades," said D. Wayne Johnson, who served as the company's director of research from 1966 to 1977. "He supported the high artistic standards for the firm while introducing medallic innovations. His leadership dominated the field, up to and including the American Bicentennial." "Three of the inaugural medals were created while Louth headed the firm, a task that took him to Washington, D.C., to work with the incoming presidents and their inauguration committees, and ultimately to the White House for the presentation of a special gold version of the medallion to the new president. "He could have gone alone, but he always took the sculptor who designed the medal," Johnson said. "He was always concerned with giving the sculptor credit." "Louth grew up in Kokomo, Ind. At 18, he entered the Navy's V-12 education program, attending Purdue, Notre Dame and DePauw universities. After World War II ended in 1945, he refused an officer's commission, preferring instead to serve as a seaman at Camp Shoemaker in Livermore, Calif., until his discharge in June 1946. "A month later, the 20-year-old Louth joined Medallic Art Co. in New York, run at the time by his uncle Clyde Trees. Trees had worked there since 1919 and shepherded the company through the lean years of the Depression, when commissions were few and far between, and through World War II, when bronze, the primary component of medals, was in short supply because of military needs." To read the complete article, see: Full Story Dick Johnson adds: "The article on was written by E-Sylum subscriber John Perro, a fellow member of the Litchfield Coin Club, after he interviewed both Hugo Greco and myself. The article and picture appeared on page one of the second (B) section with long carry-over to second page." [Many thanks to John and Dick for this great article on an important numismatic figure. -Editor] MEDALLIC ART AT WILLIAM LOUTH MEMORIAL SERVICE Dick Johnson writes: "Good wife Shirley and I drove to Cape Cod Saturday (Dec 2, 2006) to attend the memorial service for William T. Louth who died November 17th. Bill had been a luminary in the numismatic field for two decades spanning the 1960s and 70s. Both Shirley and I had worked for Medallic Art Company under Bill's presidency, culminating in the great outpouring of medals for the American Bicentennial 1976. We knew the Louth family and had visited Bill several times recently, showing up with tape recorders in hand and pestering him with questions, the latest visit was September 25, just 25 days before his death. (Reported here in The E-Sylum (vol 9, no 44, article 4). He was kind in answering all our questions and had sharp recall for these personal memories. The memorial service was religious (as was Bill). Appropriately, near the end of the sermon the pastor held up a gift he had received from Bill. It was a very famous medallic work, the Mark Twain Birth Centenary Plaquette by Laura Gardin Fraser. He read the inscription on this 1935 plaquette and noted how true this was of Bill's life: "Always do right, this will gratify some people and astonish the rest." The large galvano with Bill's portrait by Gilroy Roberts was also on display. One wonders if the service for our life's heritage would be read from a medallic item and what would it say." YES, HOWARD, THERE IS A NUMISMATIC MUSEUM OF THE ITALIAN MINT Responding to Howard Berlin's account of his unfortunate experience in attempting to visit the Italian Mint's museum, Richard Margolis writes: "Some 5-1/2 years ago, on June 11, 2001, to be specific, my wife and I, having attended the IAPN Congress in Rome, and having obtained details of the opening hours (9am-11am) beforehand, from the Internet, went to via XX Septembre 97, where, in an office of the Ministry of the Treasury, after showing our passports we were able to purchase tickets admitting us to the Numismatic Museum. It is my vague recollection that the museum had to be opened for us, and I definitely recall that we were the only visitors in the museum. It is a major museum, however, with thousands of Italian and other European coins displayed in vitrines, as well as hundreds of Benedetto Pistrucci's beautiful wax models also on view. A flyer that I picked up that day gives an overview of the collection, which it states consists of over 20,000 pieces, including 10,000 coins from the middle ages to the present, some 6,600 medals, and 404 of Pistrucci's waxes. (Incidentally there isa handsome two-volume boxed set, rather scarce, describing and illustrating all of these Pistrucci works). A few days later, however, in Firenze, we had a more Berlin-like experience. Having acquired all of the specific details beforehand as to hours and days of opening, we took a long, expensive taxi ride to the suburbs in order to visit the Museo Ricardo Ginori of the Doccia Porcelain Factory. (I collect 18th century ceramic portrait medallions from as many different European factories as I can, and knew that Doccia had made some, although I don't have any in my collection). When we arrived and got out of the taxi we found that the entire factory was locked up tighter than a drum. Fortunately the taxi hadn't left, so we were able to take another long ride back to town. A nasty letter which I subsequently sent to Doccia detailing our experience of course received no reply." YOSSI DOTAN's VISIT TO THE ITALIAN STATE MINT MUSEUM Yossi Dotan writes: "It is unfortunate for Dr. Howard Berlin that he was unable to visit the Italian State Mint Museum at Via XX Settembre, Rome. In June 2002 I spent almost three hours in the museum, assisted by Ms. Buccolini (my knowledge of Italian is even less than her knowledge of English so I was unable to find out whether she is the curator). She was so kind to show me her cards pertaining to various coins I was interested in, from which I copied information for my files on modern world coins depicting watercraft. The museum is in the building of the Zecca della Stato, the Italian State Mint. I went there to the security personnel, who phoned Ms. Buccolini to find out whether she could accommodate a visitor. After depositing my passport with them I was taken to the museum. Obviously, the museum has a large collection of Italian coins, including those of its colonies in Africa, but there were also many world coinsand beautiful wax models for coins and medals. Back home I wrote to Ms. Buccolini at SAM@ipzs.it to thank her for her assistance. It may be advisable for Dr. Berlin, or other E-Sylum readers, to write to that address (hoping it is still valid) to find out the opening hours of the museum when they plan a visit to Rome." MONETA WEB SITE UPDATED Georges Depeyrot writes: "The Moneta web site is now updated. It is possible to have a look to one plate or one page of each of the volumes published in 2006. "In 2006, Moneta published 11 numismatic volumes (2.714 pages; 37 plates of drawings; 124 plates of photos). The subjects are various: - Greek coins of Istros, Callatis and Tomis - Quantifications and ancient numismatics - Late roman coin finds in Dobrodja (Romania) - Gold coins from the Institute of archaeology and from the Academy of Romania (2 vol) - Byzantine coin finds in USSR - Coins of Liege (Belgium) (3 vol) - Archaeology and numismatics in Midi-Pyrenees (France) - Russian medals from Le Louvre "A next group of books will be published in spring 07 (Parthian coins from Tbilisi; Third/fifth Roman hoards; etc.)." To visit the Moneta web site, see: cultura-net.com/moneta/ IBSCC BULLETIN ON COINTERFEITS AVAILABLE ONLINE Ed Krivoniak writes: "Here is a web site that deals with counterfeit coins - it has just been updated to 6000 listings." From a December 1 announcement: "We are pleased to announce that the entire series of The IBSCC Bulletin on Counterfeits has been incorporated into Forgerynetwork.com with permission from the copyright holder. Included are all the coins photographed, published and condemned by the IBSCC - the International Bureau of the Suppression of Counterfeit Coins. These all have been classed as "Forgery - Published" as they have been condemned by a recognised institution and will be the first to be displayed in any search. The database now contains almost 6000 records - 3000 of these being published counterfeits. The database is by far the largest public counterfeit coin database in the world and is now an essential tool. All purchases made should be checked against this database to help verify authenticity." To access the web site, see: forgerynetwork.com CLARIFICATION ON HOLT's ARTICLE ON ALEXENDER's ELEPHANT MEDALLIONS Rick Witschonke writes: "A clarification of my clarification: Holt wrote a book about the silver elephant medallions; no one (as far as I know) doubts their authenticity. More recently, a gold coin was published, featuring a head of Alexander in elephant headdress and an elephant. This unique coin was the subject of Holt's ARAMCO article, and is the piece that is condemned by Fischer-Bossert in his ANS Magazine article. Readers may have been confused based on your intro to my clarification." [Thanks for clearing the mud from my introduction. A link to the item is shown below. I had seen the ANS article, but regretfully read neither of the articles in detail. -Editor] HOLT's ARTICLE ON ALEXENDER's ELEPHANT MEDALLIONS QUESTIONED esylum_v09n48a18.html GEORGE FULD ON JULIUS GUTTAG's CIVIL WAR TOKEN COLLECTION George Fuld writes: "As it is well known Dr. George Hetrich and Julius Guttag wrote the first definitive study of Civil War tokens. Both authors had very large collections. The Hetrich collection was auctioned off intact by a small auction house in Pennsylvania (Pennypacker) to Barney Sipos of Washington, Pa. He died a few years later and I have no idea what happened to the collection. The Guttag collection of some 4,500+ pieces went to Max Schwartz of New York. He remounted the collection in large Wayte Raymond coin boards. It was sold to John Zug of Bowie, MD who advertised it for sale in The Numismatist. It did not sell. Upon his death it went to New Netherlands Coin Co. and we acquired it in 1958. It was integrated into our collection and duplicates disposed of." THOUGHTS ON THE 1792 WASHINGTON CENT IN GOLD PEDIGREE GAP Last week George Fuld asked for information on the 1792 Washington cent in gold (see link below). Saul Teichman writes: "Breen, under number 1233 in his Encyclopedia lists it as coming from Colonel Green via Wayte Raymond and also mentions H.P. Smith after Parmelee." [So the Parmelee coin went to H.P. Smith and ultimately found its way to Col. Green. But how? This is the pre-1925 pedigree gap George and Eric Newman are hoping to plug. -Editor] Saul adds: "H.P. Smith was the buyer at the Parmelee sale under the nom de plume of "Clay" or "Celay" (the latter is an error by Don Taxay seeing a very fancy C handwritten with a loop at the end in a named sale catalog)." "I do not know who Smith bought the coin for. Since it was not in his personal collection as later sold by the Chapmans, it must have gone to someone else. "If it was for Dewitt Smith, then the coin would be in the Brand journals as Brand did purchase his colonials among other things, ditto if it was purchased by Dr. Hall. "If it was for Granberg, then it might appear in the Newcomer and/or Col. Green inventories." "Hopefully someone can check the above inventories to see where it came from." 1793 LARGE CENT WEIGHT CHANGE REVISITED Last week Bob Neale wrote: "Congress amended Statute One, the April 1792 basic coinage act, on 14 January 1793 to lower the coin's weight from 208 (Birch cent weight) to 164 grains (chain cent weight)." Bob Julian adds: "The original weight was 264 grains. The weight of the cent from the first regular coinage in 1793 (Chain) to December 1795 was 208 grains. The weight was again lowered in December 1795 to 168 grains, where it stayed until 1857." [These statements largely agree but differ in the ultimate large cent weight: 164 grains vs 168. My handy Red Book gives the weight as 10.89 grams (not grains). So what's that in grains? A conversion calculator I found on the Internet says 168 grains. See grams-to-grains.htm -Editor] 1786 CONTINENTAL CONGRESS MINT ORDINANCE On a related note, while looking for other things I came across this page on the Library of Congress web site containing the text of the ordinance passed Oct. 16, 1786 by the Continental Congress for the establishment of a mint. "AN ORDINANCE for the ESTABLISHMENT of the MINT of the UNITED STATES of AMERICA; and for REGULATING the VALUE and ALLOY of COIN. "IT IS HEREBY ORDAINED by the United States in Congress assembled, that a mint be established for the coinage of gold, silver and copper money, agreeably to the resolves of Congress of the 8th August last, under the direction of the following officers, viz. "An Assay Master, whose duty it shall be to receive gold and silver in bullion, or foreign coin, to assay the same, and to give his certificates for the value thereof at the following rates: "For every pound troy, weight of uncoined gold or foreign gold coin, eleven parts fine and one part alloy, two hundred and nine dollars., seven dimes and seven cents, money of the United States, as established by the resolves of Congress of the 8th of August last, and so in proportion to the fine gold contained in any coined or uncoined gold whatsoever. "For every pound troy weight of uncoined silver, or foreign silver coin, eleven parts fine and one part alloy, thirteen dollars, seven dimes, seven cents and seven mills, money of the United States, established as aforesaid; and so in proportion to the fine silver contained in any coined or uncoined silver whatsoever." To read the complete text, see: Full Story LABOR EXCHANGE NOTES Part 9 of the Herb & Martha Schingoethe Obsolete Currency collection (Smythe sale #268, New York, December 12-13, 2006) offers a large number of Labor Exchange notes, an alternate currency developed in the latter part of the 18th century used in numerous regions around the United States (see lots 2661-2688). An Internet search turned up some additional information: "Beginning with severe agricultural reversals on the Great Plains and throughout the South during the late 1880's, a business panic in 1893 turned what bad been a "traditional" economic downswing into the nation's first full-fledged industrial depression. Hard times produced armies of unemployed workers, crippling strikes, and the shrill demands of the Farmers' Alliance, the Knights of Labor, and the People's party for relief and reform. One response to depression was the sudden expansion of a cooperative organization, the Labor Exchange. "The founder of the Labor Exchange was a sensitive, articulate Italian immigrant, G. B. De Bernardi, who farmed near Kansas City, Mo." "Exchange Number One" tangibly expressed his plan for uplifting the downtrodden. The experiment's operation revolved around De Bernardi's pet monetary scheme, the use of a unique form of circulating medium known as "labor checks." According to the De Bernardi formula, members deposited products of their labor (clothes, shoes, food stuffs, etc.) in the exchange warehouse or "depository" and in return they received certificates (labor checks) which equaled the wholesale value of the goods. These certificates, issued in various denominations, circulated among the local membership and the community as well. Holders of labor checks, whether members or non-members, could present them at the warehouse for any desired commodities." Full Story To view an image of one of the Labor Notes see: Labor Notes [De Bernardi's system wasn't the first Labor Exchange - a similar note-issuing organization was the brainchild of Robert Owen in England in 1825. -Editor] "Labor notes, a unique monetary experiment in early nineteenth-century England, bore a face value equivalent to a certain number of hours of work. The notes were the brainchild of (17711858), a successful textile manufacturer in England who rose to fame as a utopian socialist reformer at the beginning of the Industrial Age. He is famous in the United States for involvement with New Harmony, Indiana. In 1825 Owen purchased 30,000 acres of land in Indiana and launched New Harmony as a cooperative society, a project that would cost him 80 percent of his fortune before he abandoned it. In 1832 Owen was publishing a penny journal, The Crisis, in which he publicized his plan to form an association for the exchange of all commodities upon the principle of the numbers of hours of labor embodied in each commodity All commodities that required the same amount of labor to produce were to be traded evenly, and other commodities were to be exchanged at ratios ruled by the number of hours of labor required to produce each one..." "Exchanges opened in different regions, and one of the largest was in Birmingham, where two series of labor notes were issued in denominations of 1, 2, 5, 10, 50, and 80 labor-hours." Full Story JOESPH MENNA: DESIGNER OF WASHINGTON AND JEFFERSON DOLLAR COIN PORTRAITS On November 29th Philadelphia Inquirer published an interview with Joseph Menna, designer of the portraits of George Washington and Thomas Jefferson on the new dollar coins. "When studying sculpture in Russia 10 years ago, Joseph Menna found his muse in a George Washington quarter. The bond came from his longing for home and a pursuit of the perfect relief sculpture. Now, his portrait of Washington is set to grace the front of the first in a series of presidential dollar coins. "It's a head trip," said the soft-spoken South Jersey native, now an employee of the U.S. Mint in Philadelphia. "Designing Washington, that's the signature for me." "Menna, 36, is not worried about the coins' performance - even against the still-popular paper bills. "For him, his designs symbolize arrival at a destination he began as a child in Blackwood. He always wanted to be an artist, he said, and started honing his interest and skills after a stint at a summer arts program during high school." "When the agency announced the presidential dollar program, Menna was assigned to draw James Madison - but he worked on the Washington and Jefferson coins on the side. Ironically, his Madison design never made the cut. But he does not mourn it. "It's such a great honor to design the first presidential coin," he said. "I still can't get my mind around it." To read the complete article, see: Full Story AN ONLINE NEWSPAPER ARCHIVE Rod Charleton writes: "In reference to what Fred Reed wrote about the Brooklyn Daily Eagle and searching newspaper microfiche... I'm not sure if you or your readers are aware, there's a great online reference site for newspapers. The web address is www.newspaperarchive.com. I've been a member for quite some time and it's a very quick and valuable tool for looking up newspaper articles. It's no way near as complete as I would like to see from a research point of view. But it does give you the ability to search thousands of newspapers without ever putting any gas in the car and driving to those local libraries in their respective states. There is so much information in this database that I almost always find myself sidetracked looking at things other than numismatic interests. Of course, for someone like me that loves history, it's easy to get sidetracked." To visit the Newspaper Archive, see: newspaperarchive.com [The site bills itself as the largest newspaper archive online: Search 52.1 Million Pages • 648 Cities • 238 Years • 2,385 Titles. A subscription costs $7.95/month; a seven-day free trial is available. >From the web site: "NewspaperARCHIVE.com, the largest historical newspaper database online, contains tens of millions of newspaper pages from 1759 to present. Every newspaper in the archive is fully searchable by keyword and date, making it easy for you to quickly explore historical content." -Editor] RED BOOK AND BLUE BOOK HOARD OFFERED We don't usually reference eBay offerings, but Len Augsberger writes: "This seems worthy of a mention in The E-Sylum." It's a hoard of over 11,000 Red Books and Blue Books from 1949 to 2005, an inventory accumulated over the year by Les Roosmalen. To view the lot listing, see: Full Story QUIZ ANSWER: THE ORIGINAL ANA HEADQUARTERS BUILDING DESIGN The answer to last week's quiz question comes from Ed Rochette's article in the November 21 issue of Numismatic News (page 38): "Quite fortunately, the original plans for the design of the ANA headquarters building had been scrapped in the name of good taste! The original architectural renderings proposed a round building with concrete reeded edges circumscribing the building, as if it were a giant coin laying flat." "By the way, if you want to see a round building that was designed to look like a stack of coins, visit Iola, Wis., where Numismatic News is located. It was built as a restaurant in 1980 by Cliff Mishler and is currently a Subway, where hungry staff can still get something to eat." NUMISMATIST TO HIT THE NEWSSTANDS According to a November 28 press release, "NUMISMATIST, the official publication of the American Numismatic Association, will be available at a limited number of independently owned newsstands and Kroger® supermarkets in 23 states beginning with the December issue. The ANA has partnered with Anderson News Company of Atlanta, Georgia, to test the market for NUMISMATIST magazine at public news outlets. Approximately 4,300 copies will hit the stands in early December. The magazine’s cover will differ slightly from the version received By members and will include a UPC code in the lower left corner. “As the premiere magazine for collectors of coins, tokens, medals and paper money, NUMISMATIST has a loyal and very enthusiastic following in the hobby community” says Editor-in-Chief Barbara J. Gregory. “We’re extremely proud of our publication and excited about sharing it with the public.” [This would be a great way to both promote numismatics and raise awareness of the organization. The competition will be tough, though, with several monthly numismatic magazines such as COINage already on the shelves. -Editor] TORONTO TRANSIT INTRODUCES NEW TOKEN The Toronto Transit Commission (TTC) recently announced a new token, bucking (at least temporarily) the inexorable worldwide trend toward electronic fare payment systems. The story was discussed by editor John Regitko in the November 26th issue of the C.N.A. E-Bulletin (v2n34) published by the Canadian Numismatic Association. With permission, we're reprinting much of the article here: "A total of 24 million tokens were previously in use. With the change in the tokens today, the old ones will no longer work in the turnstiles. Twenty million of the new tokens were manufactured by Osborne Coinage of Cincinnati, Ohio (www.osbornecoin.com) at a cost of $1.7 million, or 8.5 cents per token. Explaining the TTC’s sole-source contract, a spokesperson stated that the firm offered unique security features that have made it a well-regarded supplier of casino slot tokens. One TTC manager estimated it will cost the TTC no more than several thousand dollars to modify each token receptacle to accept the new tokens. On average, the TTC estimates that it loses about $7 million a year through fraud, including gate jumping and the use of fake tokens and Metropasses. That loss represents just under 1 per cent of the system’s total revenue. Members of a cross-border counterfeit ring that cost the TTC about $10 million were arrested earlier this year, prompting the token redesign. “(It is a) much more complex token. There are edge markers. It’s textured,” said TTC spokesperson Marilyn Bolton. “We’re not announcing what the metals are.” The new tokens are the size of a dime but vaguely resemble the gold- and silver-colored Canadian toonie. It incorporates design features intended to thwart would-be counterfeiters. The swirl pattern on the face of the coin and ridged edges will make the new token expensive to fake, TTC officials say. Asked why the TTC doesn’t move away from the old coin and paper ticket fare formats and towards something like the bar-coded MetroCard commuters swipe at turnstiles in Manhattan, TTC Chair Howard Moscoe said it costs too much to build a whole new fare payment system. “It will take time and it is a huge cost, and now the province is making sounds about paying for a region wide fare card. I’d rather spend on new buses. Smart cards are coming.” Although the new token was available for sale and use earlier today, you can still use the old tokens on the TTC transit system right up until January 31, 2007. After January 31, 2007, the old token can no longer be used as TTC fare. Starting January 2, 2007, an old token can be exchanged for a new token at selected locations. Or you can simply hang onto them as traders with other vecturists." For an illustration of the new token and further details, go to new_token.htm VIRTUAL WORLD GENERATES FIRST REAL-WORLD MILLIONAIRE Len Augsburger forwarded an article about the money used in Second Life, a web site/game/virtual world that has attracted a loyal user base and lately, plenty of publicity. He writes: "This article starts to change the whole notion of what money really is......." Here are a few excerpts: "Anshe Chung, a real-estate tycoon in the digitally simulated world known as Second Life, has apparently become the first virtual millionaire--i.e., someone whose holdings in a make-believe world are legally convertible into genuine U.S. currency worth more than $1 million." "Second Life's creators and denizens do not like it to be called a game --you don't shoot at monsters while you're there, for instance--but it might be categorized nonetheless as a special variety of so-called massively multiplayer online role-playing game (or MMORPG for relatively short), albeit one that is more akin to SimCity than to World of Warcraft. In Second Life, subscribers get a tool kit that enables them to build and create an avatar (a character in the world). They also get a small quantity of Linden dollars to start out with, enabling the participant to buy additional tools and objects within the world itself. Linden Lab converts currency at a floating rate that, at the moment, is about 257 Linden dollars per U.S. dollar. Though you can buy additional Linden dollars from Linden Lab by paying U.S. currency, Chung says she has made all her additional Linden dollars via in-world buying, building, trading, and selling. The lion's share of it, she says, has been made by buying, developing, and then renting or reselling "land"--i.e., control over the virtual real estate simulated by Linden's servers." To read the complete article, see: Full Story The reader comments following the article are plentiful and come at the issues from all sides. They make great reading as well - here are a few: "This is nothing more than a pyramid scheme. For a few to get rich, many more will have to give up their real money. No real wealth can be created in a virtual world." "This is the future of the Internet and world wide economy. Everyone wondered why you would buy virtual real estate during the birth of the Internet. Now the domain name market has made many millionaires. All businesses who rely on web pages have the same risk if ever the servers were to shut down. There will be many more millionaires made in Second Life and other virtual worlds. Virtual World Real People." "All value is virtual. A piece of land, a book, a car, a stock, a painting, any good or service you can name - it doesn't matter whether it actually exists or not. What does matter is if people want it, and what they will pay for it. Where there is any demand and finite supply, there is value." "Second Life is rife with casinos where one may bet, win or lose, Linden Dollars. Since these are, as mentioned in this article, convertible to US Dollars, does Second World not run afoul of the new US prohibition against online gambling?" "I actually do think the time is coming when "virtual" property is given a legal value and therefore, a true physical presence. Remember, our technological laws are based mostly on telephone and telegraphs, radios and TV's. The time is now to re-write the law of the virtual world as it becomes more a part of our daily world..." "Actually, the US Congress is in the preliminary stages of probing virtual economies. That should be considered a good indicator of how lucrative this virtual "waste of time" (as some have deemed it) can be." Full Story [Put me in the "money is what people agree it is" camp. As I've often noted when discussing private currencies such as Labor Exchange Notes or Liberty Dollars or Boggs bills, the "real" value of any currency exists only because the parties to a transaction agree on that value. The Linden dollars may be convertible to U.S. Dollars, but those dollars are just as "virtual" - they only have a value because my fellow citizens agree to accept them in turn for the "real" things I want - food, clothing, shelter, entertainment, Internet access or ... a piece of virtual real estate. -Editor] LIBERTY DOLLAR FIGHTING FOR EXISTENCE Speaking of the Liberty Dollar, its creator Bernard von NotHaus has published the November 2006 issue of his commentary, and the recent U.S. Mint position is having many repercussions. In an opening segment headlined "Liberty Dollar Faces Extinction", von NotHaus writes: "The Liberty Dollar is now under attack from…our bank. On Monday, November 20, the Evansville office received a certified letter from our bank, Old National Bank, which said: "Please be advised that if you do not close the Account within 15 days of the date of this letter (11.16.06), Old National Bank will exercise its right to close the Account." Had we bounced checks? Nope, not a one. Were we a difficult customer? Definitely not. Had we done anything to warrant the bank to close our account? No, but obviously something upset the banking powers to be. The VP for Bank Security, who ordered the letter, told us that they had investigated our business and said that the "nature of our business" was too risky for them..." "The Liberty Dollar is clearly under siege. Quite simply, without a bank account and merchant card services, it is all but impossible to do business in this day and age. We face the real possibility that the Liberty Dollar could die... and put all the ideals it stands for at risk! A very sobering thought I dare say." [The newsletter goes on to say that the organization's recently hired Executive Director, Mike Johnson, has resigned. It also has an account of a proponent's recent Wal-Mart visit, where $60 worth of Liberty "coins" and certificates were "spent". -Editor] To read the complete newsletter, see: Full Story HAWAIIAN LIBERTY DOLLAR LAUNCHED Also in Bernard von NotHaus' November 2006 newsletter is announcement of a new version the Liberty Dollar. He writes: "So what do I do in my spare time? Recently when I had a couple of days, I went to Hawaii for the weekend and launched a Hawaiian version of the Liberty Dollar. Announcing the new 2007 Hawaii Dala featuring King Kamehameha on the obverse with a Face Value of $20 so if you are inclined, you can actually use it as voluntary kala because one Hawaiian Dala is equal to one US dollar. Check out the photos: image image What is to come? A lot! The six historic mega designs I did for the 30th anniversary for the old Royal Hawaiian Mint in 2004 will be issued in three sizes for a total of 18 issues. One design per size per month. The six designs are: Kamehameha, Liliuokalani, Kalakaua, Kaiulani, Warrior, and Discovers. The three sizes at the current $20 Silver Base will be: one ounce $20 Hawaii Dala, a half ounce $10 Hapalua Dala, and a quarter ounce $5 Hapaha Dala. All in .999 fine silver. In addition to each of these 18 silver Dala issues, a minimum of 100 of each issue will be hallmarked with a micro hand stamp with the outline of the Hawaiian Island to denote First Day of Issue. And an additional minimum of 100 will also be hand numbered 001 to 100 with the FDI hallmark. Both of these Limited Issues will be available at a premium to Face Value and market priced." To read the complete newsletter, see: Full Story [The designs seem very nicely done; the images provided appear to be of proof examples. -Editor] WESTCHESTER COUNTY COIN CLUB MEMORIES Rick Witschonke writes: "The item on the Westchester County Coin Club brought back fond memories. In the early 60s, I became interested in coins, and the fellow who was the counselor for the Boy Scout coin collecting merit badge was a member of the club. He started taking me to the meetings, which opened a whole new world for a 15 year old. The club met at the New Rochelle YMCA, and the cigar smoke was so thick you couldn't see across the room. I remember in particular Ernest Wiedhaus, who looked like he had stepped out of the 19th century, and Ed Janis, with his wonderful large cents. Everyone was very kind and helpful." DEAD MAN's PENNY ALSO ISSUED FOR WOMEN Regarding the British World War I Memorial Plaque (also called the Dead Man's Penny), Philip Mernick writes: "As already mentioned these are (unfortunately) still very common in the UK and frequently seen at antiques centres and militaria shows. I understand, however, that there were a small number made to commemorate the deaths of women. In those days women were not enrolled as soldiers but many served in medical positions close to the front. I believe that most or perhaps all of the plaques were awarded to nurses, but do not know how many were issued. Having never seen one illustrated, I do not know if they had the same design or even if they were the same size. I have, however, heard that they have been faked due to their rarity and consequent value." TASMANIAN HERO's VICTORIA CROSS SOLD On November 29 the Australian Broadcasting Corporation aired a story about the recent Bonhams & Goodman sale of the Bernard Gordon Victoria Cross medal. A transcript of the piece is posted on the web. "Like so many other young Australians, Tasmanian-born, Lance Corporal Bernard Gordon found himself on the other side of the world in 1918. And it was there, in France, that he fought his way into history, awarded the Victoria Cross for his bravery. His medal, the rare and highest military honour for a Commonwealth soldier was sold at auction in Sydney last night for almost half a million dollars." To read the complete transcript, see: Full Story ON THE SCIENTIFIC VALUE OF UNEARTHED ARTIFACTS Katie Jaeger writes: "Reading last week's item entitled "TEMPLE TROVE DISCOVERY BARES THE POLITICS OF ARCHEOLOGY IN ISRAEL" brought back a load of memories, especially the following: "...the Waqf dug a large pit, removed tons of earth and rubble that had been used as landfill and dumped much of it in the nearby Kidron Valley....Though Israel's archaeological establishment had shown no interest in the rubble, Zweig was sure it was important..." Why would archaeologists have no interest in rubble removed from a Biblical-era archaeological site? Because it is unstratified. That is, artifacts which are no longer in situ cannot be reliably used to tell you much about the site from which they came. Between 1976 and 1981, I spent five summers on digs in Israel. It was where I first heard the word "numismatist," because the first dig I participated in at Tel Aphek (site of Herod's mercantile capital, Antipatris) had a numismatist on staff, and I had to ask, "what's that?". It was there that I learned the importance (and drawbacks) of using coins as tools for dating the structures amidst which they are found. I have two Herodian and one Byzantine coin sitting in my jewelry box today, that I brought home with me in 1976. Rules for removal of artifacts from Israel were just as tight then as they are now, but I had permission to take these, because I found them in Aphek's dirt dump. Moshe Kochavi, who is now head of Israel's Department of Antiquities, was our dig director in 1976. At that time, Tel Aviv University was conducting excavations all over the country and had limited funds, so he ordered the opening of some sites with a bulldozer, before the expensive-to-maintain hordes of American and European university volunteeers arrived. American archaeologists found this shocking, but it was only practical...the upper layers of soil above a site have been disturbed by wind, water, insects and worms anyway and any artifacts on the immediate surface are considered unstratified, and therefore scientifically useless. And of course, many probes had been conducted prior to bringing in the heavy equipment, so they had a pretty good idea at which point to bring in the diggers with our little picks and brushes. On lazy afternoons, when it was too hot for sane people to be out in the field and when the rest of the crew were napping, I and a few others would go to the dirt dumps with metal detectors, because we were allowed to keep whatever we found. Aphek was one of the most fascinating sites in Israel...talk about strata! Due to the presence of an artesian spring there, it was continuously occupied from the Early Bronze age to the present. In one summer, in five different areas, we were excavating Early Bronze dwellings of mud brick, Iron Age four-room houses of limestone, the main street of Herod's Antipatris (complete with paving stones, curbed sidewalks and shops), and a Byzantine-era patrician villa floored with mosaics. A ca. 1400 AD Turkish fort stood complete on the site, and the dig team of about 150 people from all over the world lived in pre-1948 British Army barracks. A sift through the dirt dumps produced potsherds, coins, glass fragments, mosaic tesserae, and what have you, from all these periods. Anywhere you go in the ancient world, Jordan, Iraq, Syria...artifacts like potsherds, coins, even the occasional scarab (in Egypt) can be found lying on the ground. Natural geological and biological processes sift them gradually toward the surface. On the Mediterranean beach at Caesarea, I found hundreds of pottery artifacts...worn by wind and water to be sure, but clearly recognizable to the trained eye, as to what era produced them. Because it is unstratified, it is generally OK to keep anything you find on the surface as long as you are not on an active dig site, national historic site, or shrine. (The same is not true in the U.S.) Anyway, those truckloads of Jerusalem rubble are interesting, and should be investigated, but their scientific value is limited." MANLEY GOLD BAR THIEF SENTENCED On November 29th the Associated Press reported that "A house painter was sentenced Tuesday to six months in jail for stealing a 4-pound gold bar from NBA agent Dwight Manley's home and selling it to a coin dealer. An Orange County Superior Court judge also sentenced Lawrence Wach to three years probation after he pleaded guilty to burglary, grand theft and petty theft of a pawn broker. Wach was also ordered to have no contact with Manley nor the dealer who bought the bar in exchange for $9,500 and 40 ounces of gold." "The bar, made during the California Gold Rush, was valued at about $500,000 and was stolen from Manley's home nearly a year ago while Wach was working there, police said." To read the entire article, see: Full Story [The article notes that the painter is repaying the dealer he sold the bar to. Word around the hobby is that the dealer was in negotiations to resell it for a six-figure markup to another dealer who was expecting to add his own six-figure markup before placing the bar with a client. By "six-figure" we're not including the numbers to the right of the decimal point. If such a deal had come to pass, but one can't help but wonder who would be seen as the biggest thief. Everyone has to make a living and in a free society there's no law against profiting to the greatest extent the market will bear. Numismatic ethics isn't our purview here, but four-pound gold bars don't just haul themselves up from the bottom of the ocean and land in a painter's lunchbucket every day. Didn't the deal smell just a teensy bit from the get-go? -Editor] WASHINGTON POST ARTICLE PONDERS "STATEHOOD" QUARTER FOR D.C. "Lincoln and his memorial are taken by the penny. And E Pluribus Unum is already standard on U.S. coins. But with a host of new Democrats in Congress, the District might finally get a chance to ponder those numismatic issues via the D.C. Coin Bill, which Del. Eleanor Holmes Norton (D-D.C.) has been trying to get passed for years. The bill would allow the District to participate in the U.S. Mint's 50 State Quarters Program and come up with a unique design for the reverse of a special-issue quarter." "The design would have to be "emblematic," according to the law that authorized the program, and it could not be "frivolous or inappropriate." "Bill Krawczewicz, who designed the Maryland quarter, says you don't have a lot of space, so you need something iconic. "And for a motto, how about: Potius sero quam numquam (Better late then never)?" To read the complete article, see: Full Story QUICK QUIZ: WHAT's MISSING FROM THE PRESIDENTIAL DOLLARS? Relating to the new U.S. Presidential dollars discussed last week, which required-by-law features are nowhere to be found on the obverse or reverse of the coins? ANTHONY DOLLARS ARE FOREIGN IN COLORADO Bill Rosenblum writes: "The following was in the Rocky Mountain News gossip column this morning, (Nov. 30)" "EAVESDROPPING on a man talking about a store in the Aurora Town Center: "I was trying to buy a watch battery with Susan B. Anthony dollars. The clerk said, 'No, we only take American money.' " To read the complete article, see: Full Story DANIEL CARR's ALTERNATIVE NEW YORK QUARTER Perhaps many of you have seen this already, but it was new to me this week. Coin designer Daniel Carr offers examples of an alternative design for the New York statehood quarter called the "Defiant Finger Tower" On the not-for-family-usage design, a new building sends a not-so-subtle message to would-be terrorists. To view an image of the coin, see: image MAKING SMALL CHANGE SMALLER: HOW TO SHINK COINS FOR FUN David Fanning writes: "Check this out: it hardly qualifies as numismatic research or of bibliomaniac note, but those E-Sylum subscribers who (like me) grew up trying to use their chemistry sets to blow stuff up will likely enjoy it." [David forwarded a link to a Popular Science article titled "Making Small Change Smaller" -Editor] "Take, for example, my friend Bert Hickman, a retired electrical engineer living outside Chicago: He rather enjoys using magnetic force to smash coins to roughly half their normal size. (He then sells them on eBay, of course.) "Bert begins the coin-shrinking process by wrapping a quarter in copper wire and bolting the leads to copper bus bars, which are connected, by way of a triggered spark gap, to a 600-pound bank of 12,000-volt capacitors. A bulletproof blast shield encloses the coin and coil, and a high-voltage power supply charges up the capacitors. The only thing holding back the several thousand joules of energy stored in the capacitors is the tiny space between the spark gap's two brass discs. "Pressing a switch triggers the spark gap, which releases the entire charge through the coil in 25 millionths of a second. This creates a huge magnetic field, which induces a current and then a magnetic field inside the coin, which in turn pushes back against the field outside. The repulsion force between these two fields crushes the metal, instantly taking a quarter down to the size of a dime. "Bert happily takes custom orders by mail... "Clad" U.S. coins, such as quarters, work best-they contain a conductive copper core sandwiched between a nickel-copper alloy-but most metal currencies will do the trick." To read the complete article, see: Full Story To visit the coin-shrinker's web site, see: teslamania.com For some great images of shrunken coins, see: shrinkergallery.html FEATURED WEB SITE: WWII GUERILLA MONEY OF THE PHILIPPINES This week's featured web site is on the WWII emergency and guerrilla paper money issues of the Philippines. "The purpose of this site is to illustrate the indomitable will of the human spirit, and to show the many sides of conflict. This will be accomplished through the use of the currency which was made for use during, and immediately following, WWII in the Philippines. The Guerrilla money, which is the main focus of this web site, was accepted out of both national pride as much as necessity. To be caught by the Japanese with this money was often punishable by public execution." Featured Web Site Wayne Homren Numismatic Bibliomania Society Content presented in The E-Sylum is not necessarily researched or independently fact-checked, and views expressed do not necessarily represent those of the Numismatic Bibliomania Society. The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. For more information please see our web site at http://www.coinbooks.org/ There is a membership application available on the web site. To join, print the application and return it with your check to the address printed on the application. Visit the Membership page. Those wishing to become new E-Sylum subscribers (or wishing to Unsubscribe) can go to the following web page link. |
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