WAYNE'S WORDS: THE E-SYLUM NOVEMBER 22, 2015

No email delivery issues were reported last week, so we'll revel in a brief respite from Comcast and other ISP problems.

New subscribers this week include: James C Britt, Harry M. Reichenberg, and Sam Winikor. Welcome aboard! We now have 1,896 subscribers.

This week we open with no less than three major announcements about numismatic literature digitization projects, one new online archive, a new book, and two book reviews.

Other topics include the Saratoga Quarter launch ceremony, engraved Confederate treasury coins, the Air-Tite Coin Holder company, coin clipping hoards, the Bamboo dollar, British tokens, Celtic coins, and world paper money.

To learn more about architecture on Roman coinage, the Macedonian kings, the 1844-O Proof Eagle, the 1952 British West Africa Sixpence, Dennis Tucker's visit to the Mint, Lake Empire, an engraved Bryan dollar, the purchasing power of ancient coins, and pieces de merde, read on. Have a great week, everyone!

Wayne Homren
Editor, The E-Sylum

ANS PARTNERS WITH THE NEWMAN NUMISMATIC PORTAL

The Newman Numismatic Portal and the American Numismatic Society (ANS) are pleased to announce a joint project that will greatly increase access to research materials in the field of American numismatics.

The Newman Portal, an online numismatic research resource administered through Washington University in St. Louis, has contracted with Internet Archive to provide scanning services at the ANS Library. Internet Archive, a non-profit organization dedicated to digital preservation of all media, will deliver scanning equipment to ANS and supply operational staff. The digitization effort will add content to both the Newman Portal and the recently announced ANS Digital Library.

Ute Wartenberg Kagan, ANS executive director, commented “We are delighted to collaborate with the Newman Numismatic Portal on this digitization initiative, and the opportunity to scan rare or unique materials completely onsite is especially desirable.”

Chris Freeland, associate university librarian at Washington University, noted “The ANS is a natural partner for the Newman Numismatic Portal, and we are pleased to invest in the digitization of this important collection.” The scanning pipeline will focus primarily on the American portion of the ANS Library, beginning with the series of over 600 bound auction catalogs of the 19th and early 20th centuries.

The ANS, established in New York City in 1858, houses the world’s most comprehensive numismatic library, numbering over 100,000 items. The Newman Numismatic Portal, sponsored by a $2 million dollar grant from the Eric P. Newman Numismatic Education Society, began operations in December 2014. It has digitized over 1,000 documents to date, including a set of unique bid books from the firms of Samuel and Henry Chapman, which were generously loaned by ANS trustee Dan Hamelberg.

To read the complete article, see:
New Effort Provides Access to Numismatic Materials (http://library-prod.wustl.edu/new-effort-provides-access-to-numismatic-materials/)

NEWMAN NUMISMATIC PORTAL SCANS B. G. JOHNSON INVOICES

The invoices of St. Louis dealer Burdette G. Johnson, covering the period from 1940 – 1947, are now available in the Newman Numismatic Portal collection on Internet Archive, at https://archive.org/details/bgj_invoices

The Johnson invoices consist of thousands of typescript pages and have been divided into individual correspondents by year. Represented among the thicker files are dealers such as Tom Elder (167 pages for 1942) and New Netherlands (122 pages for 1940). The files convey a sense of the rare coin trade in the 1940s. The largest dealers engaged substantial typing pools to prepare invoices, constantly shipped material on approval among themselves, and managed an extraordinary amount of manual accounting. The scope of the effort involved is readily apparent upon browsing these invoices.

Before we had even announced the availability of the Johnson invoices on Internet Archive, eagle-eyed researcher Saul Teichman spotted an invoice containing pedigree information on the 1844-O (unique proof) eagle. Johnson offered the coin to F.C.C. Boyd in 1940.

Most of the cataloging in the Johnson invoices is terse, but Johnson could not hold back on this piece. “1844 Perfect brilliant proof. This is not a coin with proof surfaces but an actual proof, as is shown by its entire appearance. I imagine it was struck at Philadelphia before the dies were sent to N.O. It is certainly a great rarity and in all likelihood entirely unique.” Johnson priced the coin at $225, about ten times the price of a “common” eagle.

We find also that in 1941 Johnson offered Hans Schulman a rare broadside copy of the Declaration of Independence, printed by order of the Rhode Island Assembly shortly after July 4th, 1776. Schulman apparently declined the offer, for Newman himself eventually acquired this document, as noted in the Harvard Library Bulletin (Vol. 3, No. 1, Winter 1949).

This broadside copy of the Declaration has recently been donated by the Newman family to Washington University in St. Louis as part of its Olin Library transformation. These are but two remarkable items from this rich archive, and we expect many more will be discovered as researchers become aware of this unique resource.

To read the 1844-O Proof Eagle invoice, see: https://archive.org/stream/fccboydinvoicesf1940john#page/n11/mode/1up

To view the Declaration broadside invoice, see: https://archive.org/stream/hmfschulmaninvoi1941john#page/n44/mode/1up

To read more on the Olin Library transformation, see: Reimagining Olin Library (http://news.wustl.edu/news/Pages/olin-library-transformation.aspx)

To browse the Johnson invoices, see:
Burdette G. Johnson Invoices (https://archive.org/details/bgj_invoices)

Saul Teichman adds:

Roger Burdette writes:

Dave Bowers adds:

ANA ANNOUNCES DIGITAL ARCHIVE OF THE NUMISMATIST

The American Numismatic Association is excited to announce its digital archives of all 127 volumes of its flagship publication, The Numismatist. Beginning December 1, ANA members can access every issue of the magazine, from 1888 to the present.

No matter if you are a coin collector studying a recent purchase, a numismatic auction house researching an upcoming catalog, or a student writing a paper on world currencies and economies, The Numismatist is a trusted repository of classic articles and hidden gems on all things money.

Helpful search features guide you to the information you seek, including relevant links to useful resources, an easily accessible table of contents, and indices with live links.

The online editions look exactly like the printed originals, allowing you to experience The Numismatist in its historical context—something the average website can’t offer. Each archived page can be downloaded and printed, as well as bookmarked, cited and referenced by other registered users.

The ANA’s digital archives of The Numismatist is your one-stop hobby reference, helping you expand your knowledge base as you explore the world of numismatics.

To read the complete article, see:
https://www.money.org/the-numismatist-digital-archives

ANS LAUNCHES GREEK NUMISMATIC RESEARCH TOOL: PELLA

The American Numismatic Society (ANS) is excited to announce the launch of its latest digital platform, PELLA (numismatics.org/pella/), an important new research tool for ancient Greek numismatics that provides a comprehensive, easily accessible online catalogue of the coinage produced by the kings of the Macedonian Argead dynasty (c.700–310 BC). Cataloguing the individual coin types of the kings from Alexander I (ruled 498–454 BC), the first of the Macedonian kings to strike coins, down to Philip III Arrhidaeus (ruled 323–317 BC), PELLA allows users to conduct research on specific types, view examples from multiple collections, conduct statistical analyses of weight and other measurement data, and see maps of where the type was minted and where examples have been found in hoards.

As a linked data project, PELLA connects to the relevant pages within the ANS's collection website, MANTIS (numismatics.org/search/), as well as Inventory of Greek Coin Hoards Online (coinhoards.org), and incorporates material from other public collections. The current version of PELLA provides links to examples of the coinage (in the name) of Alexander the Great and Philip III Arrhidaeus present in the ANS collection, the Münzkabinett of the State Museums of Berlin, and the British Museum totaling nearly 10,000 examples of individual coins. The current version of PELLA uses the numbering system and typology originally created and published by Martin Price in The Coinage in the Name of Alexander the Great and Philip Arhidaeus, London 1991, with the addition of modifications that greatly enhance the volume’s usefulness as an online resource.

PELLA is made possible by stable numismatic identifiers and linked open data methodologies established by the Nomisma.org project. Coin type data are made available with an Open Database License.

Dr. Peter van Alfen, Margaret Thompson Associate Curator of Greek Coins, commented on the announcement. "The Macedonian kings of the Argead dynasty struck arguably the most influential coinages of the ancient Greek world, so it’s appropriate that our first digital project in Greek numismatics focuses on their coinage. We also wanted to provide a specific platform for facilitating research on their coinages, particularly since the ANS holds one of the largest and most important collections of Argead coinage in the world. By being able to link to other important collections, the research potential is significantly enhanced. The ANS is committed to enhancing its online presence and digitizing its collection - PELLA is another example of our progress, and we are proud it well help educate those with general numismatic interest as well as academic researchers.”

The American Numismatic Society, organized in 1858 and incorporated in 1865 in New York State, operates as a research museum under Section 501(c)(3) of the Internal Revenue Code and is recognized as a publicly supported organization under section 170(b)(1)(A)(vi) as confirmed on November 1, 1970.

To read the complete press release, see:
The American Numismatic Society Announces the Launch of PELLA (http://numismatics.org/NewsEvents/PELLA)

NEW BOOK IN THE MONETA SERIES: #192

Moneta # 192, J.-L. Dengis, Les monnaies de la principauté de Liège, I. De Notger à Henri de Gueldre (972-1274), Collection Moneta, 192, Wetteren, 2016, 390 p., 10 pl. dessins, 11 pl. ISBN 978-94-91384-60-8

For more information, or to order, see:
Les monnaies de la Principauté de Liège (www.moneta.be/volumes/moneta_192.htm)

BOOK REVIEW: AMERICAN GOLD AND SILVER

Imagine if a coin collector had visited the Philadelphia Mint in the 1790s and had seen engraver Robert Scot working on dies, had watched copper, silver, and gold coins being struck on presses, had seen newly minted “pennies” packed in wooden casks and shipped by horse wagon, and had taken notes and asked questions. How much more we would know now!

A new Whitman Publishing book, American Gold and Silver, reflects the work of a modern-day equivalent of that fictitious visitor. Author Dennis Tucker, through the office of Mint Director of Corporate Communications Tom Jurkowsky and his staff, has had the opportunity in recent years to visit and go behind the scenes at all four operating mints: Philadelphia, Denver, San Francisco, and West Point.

I had the honor of accompanying him, Tom, and on occasion some other researchers. At the Philadelphia Mint Dennis visited with the artist-sculptors in the Engraving Department, viewed sketches and models, and learned many details of their work. At West Point he saw gold bullion-related coins being struck. Examining coinage dies under microscopes, witnessing a huge Gräbener press stamping out five-ounce silver discs, watching limited-edition collector coins being carefully packaged, observing circulation coins being put in huge sacks and handled by forklifts—Dennis experienced it all.

Dennis Tucker, Q. David Bowers, and Tom Jurkowsky at the Denver Mint (left);
Tucker examining a John F. Kennedy Presidential dollar coinage die at the San Francisco Mint (right).

The result is a numismatic study, a tour de force, and for you the reader an “I was there” experience. Deputy Mint Director Dick Peterson shared information, as did the superintendents (today called plant managers) of Philadelphia, Denver, San Francisco, and West Point, and mint employees involved in all aspects from planchet preparation to coinage to shipping. This level of first-person experience is at once exciting, informative, and in the annals of numismatic research unique.

While we know much about how copper, silver, and gold coins were made at the Philadelphia Mint in the 1790s, much more about that era is still conjecture. There was no Dennis Tucker present. So far as I have been able to determine, no dedicated researcher or journalist ever visited to take detailed notes.

Today the U.S. Mint—the Treasury agency headquartered in Washington, DC—is the center for supervising the nation’s four mint facilities plus the Fort Knox bullion depository, keeping records, implementing coin programs (with themes mandated by Congress), releasing news to keep the public informed, and many other activities. The Mint often has displays at leading coin conventions, where officials and employees are on hand to meet and greet visitors. It is a new era of information and communication.

The above said, American Gold and Silver is the first book in numismatics to have been produced with the collaboration of those actively involved, day to day, in American coinage—artists, assayers, historians, factory workers, technicians, managers, and other Mint staff and workers.

In my own world of research, writing, buying, and selling, I concentrate mainly on older coins (although I do have a collection of modern dollars). As I read the advance proofs of this book I learned many things that for me were new and even amazing. I was quite surprised to learn that one of the First Spouse gold coins, a series honoring presidential wives, depicts and names a lady who, for all I know, was never in the White House! In fact, her cause was anathema to President Woodrow Wilson, who might have had her tossed in jail (as he did with others of her persuasion). Her name is Alice Paul. (If you can’t wait, fast-forward to chapter 6.)

Much other information—some familiar, some new—awaits you, compiled, distilled, and analyzed in American Gold and Silver. Beyond the interesting text the book will serve permanently as the source for facts on the U.S. Mint’s modern gold and silver coins and medals.

Enjoy the experience!

To read the complete article, see:
Behind the Scenes at the U.S. Mint: “You Are There!” (http://news.coinupdate.com/behind-the-scenes-at-the-u-s-mint-you-are-there/)

BOOK REVIEW: MONUMENTS IN MINIATURE

The American Numismatic Society is pleased to announce the publication of Monuments in Miniature: Architecture on Roman Coinage, a new book by Nathan T. Elkins that recasts the scholarship on this popular subject. Rather than focusing on the iconography, Elkins study seeks to contextualize these coins and understand the broader social and cultural context that informed these architectural representations.

Although the emphasis is on Roman coinage, earlier Greek types are also featured for comparative analysis, including this sixth century BC silver stater of Zancle that shows harbor buildings on a sandbar encircling a dolphin.

In the Persian empire, city walls were a traditional symbol of power that were often represented on the coinage produced by the satrapies of Cilicia and Phoenicia. A particularly fine example of this tradition is this mid-fourth century BC tetradrachm of Tarsus, which depicts a lion attacking a bull above two rows of turreted walls.

The volume features over two hundred images and provides a comprehensive catalogue of Roman architectural coin types organized into Early, Late, and Provincial sections. I don’t want to step on Elkins’ detailed analyses here, but I do want to highlight one of the more spectacular coins, a cistophorus of Augustus from the mint at Pergamon that depicts the Temple of Mars Ultor on the Capitoline Hill in Rome.

As Elkins indicates, this particular representation likely bore no resemblance to the actual structure, which some historians argue was never actually built. Still, it is a lovely example of numismatic art!

The regular representation of the built environment on coins was a purely Roman phenomenon among the ancients. In the Greek world, architectural representation on coinage was very uncommon; when it did appear it referred directly to the local identity of the issuing state. Coins of the Persian satrapies only rarely depicted fortifications in conjunction with traditional Persian emblems of royalty, power, and shrines of the chief deities in the minting city. The Roman use of the iconography of building was fundamentally different. From the first occurrence in 135 BC through the late Roman Empire, the architectural images on coins from Rome commemorated or politicized the monument in question. By the mid-first century BC and into the Imperial period, architecture had become commonplace in the repertoire of Roman coin iconography.

The representation of monuments is one of the most beloved (and belabored) topics in studies of Roman coin iconography. It is also a theme in dire need of re-exploration.

Why was Rome the only ancient civilization to depict man-made monuments habitually on its coinage? Why did Greek urban centers with marble-clad monuments and politically charged building programs feature their great monuments on coins only after Roman domination? What social and cultural developments prompted Roman moneyers in the late second and first centuries BC to depict buildings on coins for the first time? What circumstances led to a lower frequency of architectural coin types in the third and fourth centuries AD until they ultimately disappeared from the Roman coinage in the fifth century? And why were these late Roman depictions more symbolic in their lack of reference to specific constructions? These are questions to be explored. This book departs from the treatment of the images as sources for the appearance of ancient monuments. Instead it explores the historical, artistic, social, and cultural contexts of the iconography of building on Roman coins from its emergence in the late second century BC to its disappearance in the fifth century AD.

For more information, or to purchase, see:
http://numismatics.org/Store/Monumentsinminiature

To read the earlier E-Sylum article, see:
NEW BOOKS FROM THE AMERICAN NUMISMATIC SOCIETY (www.coinbooks.org/esylum_v18n42a06.html)

NOTES FROM E-SYLUM READERS: NOVEMBER 22, 2015

On Collectors and Collecting
Martin Kaplan writes:

To read the earlier E-Sylum article, see:
WAYNE'S NUMISMATIC DIARY: NOVEMBER 15, 2015 : What Is a Collector? (www.coinbooks.org/esylum_v18n46a22.html)

The Savings Bank of Louisville, KY
Regarding the obsolete banknote discussed in Caitlyn Trautwein's article, Dennis Schafluetzel writes:

To read the earlier E-Sylum article, see:
SLEUTHING OBSOLETE CURRENCY SECRETS (www.coinbooks.org/esylum_v18n46a15.html)

Query: NASCA Wayte Raymond Part 2 Catalog Sought
Michael Atkins (matkins2@comcast.net) writes:

Another 1952 British West Africa Six Pence
New subscriber Harry M. Reichenberg writes:

To read the earlier E-Sylum article, see:
THE 1952 BRITISH WEST AFRICA SIX PENCE (www.coinbooks.org/esylum_v16n35a19.html)

The Museum of the American Revolution
Kay Olson Freeman writes:

To read the complete article, see:
Forged in Philadelphia

To read the earlier E-Sylum articles, see:
NEW BOOK: FORGED IN PHILADELPHIA (www.coinbooks.org/esylum_v17n12a06.html)
BOOK REVIEW: FORGED IN PHILADELPHIA (www.coinbooks.org/esylum_v17n47a08.html)

THE NATIONAL HISTORICAL PARK SARATOGA QUARTER LAUNCH

U.S. Mint official Ron Harrigal presented Bracewell with a framed set of Saratoga quarters, one each from the Philadelphia and Denver mints. Together, they took part in a commemorative “coin pour,” dumping hundreds of the new quarters into a black metal pot on the high school auditorium’s stage. Free quarters were given to all Schuylerville students 18 and under.

Fox told The Saratogian how the latest coin is one of 17 she has designed for the U.S. Mint, including two more for the America the Beautiful series, which show Glacier and Acadia national parks in Montana and Maine, respectively.

“I wish I’d been chosen for the Hawaii coin,” she told the newspaper. “I’d love to go there.”

Hundreds of schoolchildren were on hand, with several of them participating in the ceremony which was live-streamed to the public. Additional event participants included Mint Artistic Infusion Program artist Barbara Fox, designer of the coin's reverse; Saratoga National Historical Park Superintendent Amy Bracewell; Park Ranger and Historian Eric Schnitzer; and Matt Scollin, regional director for U.S. Representative Elise Stefanik.

Event attendees were among the first in the Nation to get newly minted Saratoga National Historical Park quarters during the coin exchange held after the ceremony. Collectible bags and rolls of circulating quality Saratoga National Historical Park quarters will be available for purchase from the Mint starting on Nov. 30 at noon Eastern Time.

Saratoga quarter launch audience

Saratoga quarter launch stage

Saratoga National Historical Park Superintendent Amy Bracewell
and United States Mint Acting Quality Manager Ron Harrigal

Saratoga quarter coin bucket

To read the complete article, see:
State and Union: Little Valley artist's coin design released this week (www.oleantimesherald.com/news/state-and-union-little-valley-artist-s-coin-design-released/article_18262b0e-8e7c-11e5-aee6-93e3952ba7ca.html)

To read the complete U.S. Mint press release, see: United States Mint Launches Saratoga National Historical Park Quarter (www.usmint.gov/pressroom/?action=press_release&id=1730)

To view the Mint's Saratoga Quarter launch photo archive, see: Saratoga National Historical Park quart... (www.flickr.com/photos/129211989@N07/sets/
72157660587680578/with/22698049748/)

To read the earlier E-Sylum article, see:
ARTICLE FEATURES SARATOGA QUARTER DESIGNER BARBARA FOX (www.coinbooks.org/esylum_v18n45a14.html)

THE EMPIRE COIN COMPANY BUYS A LAKE

American Numismatic Society Francis D. Campbell Librarian David Hill writes:

Dave Bowers writes:

Aerial view of part of Lake Empire owned by Empire Coin Company in the 1960s. (Binghamton Evening Press)

Jim Ruddy (left) and Dave Bowers look over the expanse of water.

Hank Spangenberger as lifeguard with some
Empire staff members on a dock in July 1963,

Dave adds:

LORRAINE PRATT IMMEN (1840-1927)

Lorraine Pratt Immen (1840-1927), a native of Michigan lived there as a lifelong resident. In 1865, she married Frederick Immen (1837-1909) an immigrant from Depstadt, Bavaria, Germany, a wealthy carpet dealer. They lived at 35 West Lafayette Street, Grand Rapids, Michigan and had two children Elmer (1862-) and Arthur B. (1867-). Their home was an elaborate mansion that served for many social gatherings and various women's clubs gathering in the great ballroom.

She was a very active traveler, writer, collector of books, art, curiosities and coins, and was very involved in the arts and society. In 1887, she was the Founder of the Shakespeariana Club of Grand Rapids. She was also a member of the Michigan Historical Society, the Ladies Literary Club, and the vice-president of the Michigan Association of Elocutionists. Her collection of books, art, antiques, documents, photographs, correspondence, clippings, etc. are kept in the Grand Rapids Public Library.

Her curiosity about a Fugio in her possession caused her to contact the Chapmans. She obviously had no knowledge of American Colonial coins and so she wrote to Samuel Hudson and Henry Chapman with a very eager to learn mind. Her drawings of the Fugio are as amusing and entertaining as her descriptions and her letter.

In 1895 she was a charter member of the Michigan State Federation of Women’s Clubs. In 1896 she published a booklet, California, giving details of her travels there and the impressions they gave, which were originally published as Letters of Travel in California that ran in the Grand Rapids Herald.

Her picture appeared on the front page of the Grand Rapids Herald, Sunday, July 23, 1899.

In 1900, she donated fifty books to the new library of the women’s building of the Michigan State Agricultural College.

Her husband died April 9, 1909 at Washington, D.C., and is buried in Oakhill Cemetery, Grand Rapids, Michigan.

She died October 20, 1927 and is buried at Oakhill Cemetery, Grand Rapids, Michigan.

To read the complete article, see:
IMMEN, LORRAINE PRATT (https://sites.google.com/site/numismaticmallcom/encyclopedic-dictionary-of-numismatic-biographies/immen-lorraine-pratt)

WALTER BREEN AND COIN WORLD

Mention of the late Walter Breen can still stir up flaming passions. I recall learning in 1974 that at Coin World, Breen did not exist and would never exist again! I had written a review of a reprint of Dr. Maris' work on New Jersey Coppers, a book made worthwhile mostly by Breen's in-depth introduction to the series. My typed review copy came back to my desk attached to the publisher's son-in-law, who sternly informed me, "Walter Breen does not exist at Coin World!!!"

A few years later the late Dr. Stanley Apfelbaum of First Coinvestors arrived with legal staff to inform the publisher, "I own Breen. I am going to merchandise him to the hilt, and exclusion of his name from our ads will be regarded as an unfriendly act! These are my lawyers!!!" Breen immediately returned from the dead!

This excommunication dated back several years to Breen's former Coin World column "Bristles and Barbs" which examined the controversial origins of many classic U.S. rarities. Breen was fascinated by such old numismatic expressions such as piece de Plaisir and piece de caprice that described many side-door Mint productions. One fine day in silly season when the only CW staffer with language skills was on vacation, Walter described a famous rarity as piece de merde, piece of S--t! This description got through and was duly received by thousands of readers. The merdt hit the fan - no more Breen until Apfelbaum's threats.

To read the earlier E-Sylum articles, see:
CONFRONTING THE LEGACY OF WALTER BREEN (www.coinbooks.org/esylum_v18n45a11.html)
READER COMMENTS ON WALTER BREEN (www.coinbooks.org/esylum_v18n46a10.html)

MORE ON ENGRAVED CONFEDERATE TREASURY SOUVENIR COINS

Kerry Wetterstrom of Classical Numismatic Group, Inc. writes:

Paul Hybert writes:

Michael T. Shutterly writes:

Mark Hotz writes:

Dave Ginsburg offers these thoughts:

To read the earlier E-Sylum article, see:
ENGRAVED CONFEDERATE TREASURY SOUVENIR COINS (www.coinbooks.org/esylum_v18n46a11.html)

BRYAN DOLLAR ENGRAVED FOLLOWING 1896 CONVENTION

I came across a Bryan Dollar labelled as "damaged" because someone had engraved its reverse. True, this particular type of Bryan Dollar is relatively common and is not an expensive piece given its condition. True, it has been engraved. True, it has "bag marks" from silver dollars bouncing against it, but I find that kind of ironic given it is an anti-silver piece.

So, is the engraving damage? No, engraved Bryan Dollars can be more valuable than a plain Bryan Dollar. But, it needs a story.

O.N. Frenzel and his older brother John started as teenage "gofers" in the Merchants' Bank of Indianapolis. Both worked their way up. John eventually became president and Otto became vice-president and cashier. Otto later became president, but that was after 1896.

John and Otto were hard currency Democrats. When Bryan became the party nominee for president, hard money Democrats met in convention in Indianapolis in September 1896 as the National Democratic Party. They nominated their own candidates and John became treasurer of the party. Otto spoke at hard money forums. This piece of Bryan money engraved was issued shortly after the convention, so it is not directly related to the convention activities. But, Otto obviously used the political pieces associated with the Republican Party to promote the message of the National Democratic Party.

Damaged? No. Interesting when associated with its history? Yes.

To read the complete article, see:
DAMAGED BRYAN DOLLARS (www.money.org/collector/bill/blog/damaged-bryan-dollars)

For more information on Bryan dollars, see: BRYAN DOLLARS 1896, 1900 (www.so-calleddollars.com/Events/Bryan_Dollars.html)

ARTICLE HIGHLIGHTS AIR-TITE COIN HOLDER COMPANY

Mark Therrien was the only member of his family that collected coins.

His father, Norman, liked to invent things. One day Mark showed his father his coin collection. His interest piqued, Norman bought a bunch of coin holders to protect them.

When Norman's father, who lived nearby, came for a visit, Norman showed him the coin holders that he had purchased. He wasn't impressed with the quality. Norman thought he could make a better coin holder.

"And his father said, 'Why don't you?' " Mark's brother, Scott Therrien, recalled. "And, basically as far as I know, that's how the idea was born."

That's how the late Norman Therrien, who spent 33 years at GE Ordnance writing technical manuals for submarines, came up with the blueprint for Air-Tite Holders Inc.

Since then, Air-Tite has been living up to its company slogan: "Quality protection for your collection."

Located at the back of the Robert Hardman Industrial Park on Curran Highway, Air-Tite Holders uses injection molding to make the plastic containers for coins and medallions. Norman Therrien's unique design — a system of holders and rings that fit all sizes of coins — has remained the same since the company's inception in 1980.

Norman Therrien died in 1997, but the company is now co-owned by his sons Scott and Glenn, and their stepmother, Ann Tanner. Mark is a company employee.

Air-Tite has been at its current location, which contains 22,000 square feet, since 2004. Before moving to North Adams, Air-Tite spent 10 years at the Wyandotte Mill complex in Pittsfield, after being located at five different spots in Dalton.

None of the owners is exactly sure how Norman came up with the ring system that can hold coins in six standard holders, but it definitely filled a need.

"It's inconceivable to produce molds for every single coin that's been produced, even the U.S. coins from the 1700s and 1800s until now," Scott said. "But my father was able to come up with four sizes of holders. Within these holders, there's a ring that's black or white that has different openings to gauge for coins."

Since the rings can be adjusted to become bigger or smaller, collectors are able to keep several sizes of coins or medallions within the same holder. Air-Tite's smallest model can hold six or seven differently sized coins, Scott said.

And, Air-Tite can produce plastic coin holders to any size, Scott said. "All our holders are basically individuals."

Air-Tite manufactures its holders by molding virgin acrylic plastic that contains a non-yellowing agent, which maintains the clarity of the holders over time.

"A lot of companies make them out of polystyrene, which is a lower grade plastic," Scott said. "It's brittle. It scratches easy, it breaks away, and lots of times it will have a blue or gray hue to the plastic. That's why we wouldn't use polystyrene."

Air-Tite sells mostly to private mints and "fulfillment houses," companies that gather and package products for companies like QVC or the Home Shopping Network.

"If you ever watch coin shows on TV, you'll see a lot of our holders there," Scott said.

The last of the company's original injection molding machines was replaced four years ago. Air-Tite currently has nine state-of-the-art modern machines some of them with robotics capability.

Air-Tite has 14 employees, including the three co-owners. The modern machines have helped the company cut down on costs.

"When we moved into this building, we did two shifts with 26 people," Scott said. "But with the new equipment and the robotics, we're down to what we have now."

Air-Tite also has reduced its energy costs by switching completely to solar power, a project completed a few months ago. The company's 250-kilowatt solar array was installed by U.S. Light and Energy of Latham, N.Y. Last month, Air-Tite paid $28 to the electric company.

To view the complete photo gallery, see:
Photo Gallery | Air-Tite coin holders keep collections secure (http://photos.berkshireeagle.com/2015/11/20/photos-air-tite-coin-holders-keep-collections-secure/)

To read the complete article, see:
Made In The Berkshires | Air-Tite: Keeping coins and medallions safe, secure (www.berkshireeagle.com/business/ci_29145553/made-berkshires-air-tite-keeping-coins-and-medallions)

MORE ON THE 1848 REBUS PUZZLE MEDAL

Regarding the 1848 rebus puzzle medal submitted by Philip Mernick, Francois Velde writes:

To read the complete lot description, see: Lot 1717 - Henri V, médaille rébus -Tous les bras sont ouverts etc-, 1848 Paris (www.inumis.com/vso/henri-v-medaille-rebus-tous-les-bras-sont-ouverts-etc--1848-paris-a42648.html)

Pete Smith writes:

Scott Miller writes:

David T. Alexander writes:

Scott Miller adds:

To view the complete lot description, see: France: Bronze Medals of Pretender Henri V, Comte de Chambord.... (http://coins.ha.com/itm/france/france-bronze-medals-of-pretender-henri-v-comte-de-chambord-total-5-medals-/a/231317-64033.s)

This medal has been minted in 1978 as a REBUS.

This medal has been designed by the French medalist, Marcel JEAN.

av. Rebus; AU SEUILDE L’AN NEUF AGREE (AGREEZ) MES VŒUX, os œeil 2 Laon 9 agres (gree) M’Eve œufs (cinq serres).

rv. Autre rebus; MEILLEURS SOUHAITS, “Mai” HEURES sous Haie.

In exergue; REBUS DE NOËL ET DE NOUVEL AN, raie buse 2 NO-aile e NOU / NOU v’elan.

diameter – 100 mm (3¼“)
weight – 397.50 gr, (14.02 oz)
metal – bronze, GILDED

To read the complete lot description, see:
France, Rebus medal by Marcel Jean, 100mm (www.ebay.com/itm/401014462770)
France, Rebus medal by Marcel Jean, 100mm (www.ebay.co.uk/itm/401014462770)

To read the earlier E-Sylum article, see:
REBUS PUZZLE ON 1848 MEDAL (www.coinbooks.org/esylum_v18n46a17.html)

A HALF CENTURY OF MEDALLIC OBJECTS

Not often is a new class of numismatic items born. We have seen this only twice in the last fifty years. The most recent is the bullion item – coins and medals struck solely for their precious metal content.

December 2015 is the fiftieth anniversary of the other, an entirely new numismatic genre that has swept the world for its popularity among medallic artists. This class of medals is unique to the numismatic field – the medallic object.

Created in the art world, but produced in the medal world, it was a marriage that occurred among three New York City institutions. Not an accident, it was a concept created by an art magazine, an art museum curator, and an art medal manufacturer. For medallic objects are an art creation, the mating of modern art with medallic form.

As a Christmas gift promotion in 1965, Art in America magazine wanted to offer its readers something available nowhere else. Their relationship with the leading artists of the time prompted them to promote a new format bas-relief created by top sculptors, yet in a size suitable for intimate display.

The magazine’s officials commissioned a curator of modern art at New York’s Whitney Museum, Edward Albert Bryant, to manage the project. He contacted the most prominent sculptors in the modern art field. Seven accepted his challenge – to create a modern art work that could be made in a small size.

The variety of their creations expressed their current work. Sculptor Ernest Trova, for example, was at the time creating a series of major sculptures in a series best described as “Falling Man.” How to transfer this concept to a smaller venue?

Trova solved this with a brilliant design of seven human figures aligned inside a circle with a bright red enameled arrow pointing with a subtle thrust of a Man in downwards motion — no matter how the piece was rotated. He added a legend in a raised panel circumscribing the rim.

His design met the form of a medal but was unlike anything ever produced before. It was the birth of a new sculptural work in medallic form, embracing modern art in a new class of numismatic items. A class that was to remain unnamed for two decades.

Six other sculptors created models where their imagination and mannerisms ran unfettered. Boston sculptor Harold Tovish interspersed two human heads he called Meshed Faces. His anepigraphic design denoted a dehumanization of our modern culture with mechanical forms.

To read the complete article, see:
Half Century of Medallic Objects (https://medalblog.wordpress.com/2015/11/17/half-century-of-medallic-objects/)

JULIAN'S SATIRICAL DEFENSE MEDAL

Web site visitor Sunny Carrassi writes:

Thanks! In one of our earlier articles the purchase price was listed as $9.95. I reached out to Bob Julian, who writes:

1980 THE DEFENCE MEDAL
RWJ-80 Bronze 63mm Mtg: 1,000 / RWJ-80a
CuNi 63mm Mintage: 50

OBV: “Facing portrait of Gen. Douglas Macarthur with direct quote, ‘There Is No Substitute For Victory’. If the General’s policy had been followed we would not now be facing the problem we do. Loss of will by leaders in the late 1940’s (Dem. Pres. Truman) eroded America’s might and encouraged aggression by Commie Bloc.”

REV: “Uncle Sam, shirtless, blindfolded, armed with antiquated weapon, his power greatly diminished, attempts to defend the nation. The blindfold symbolizes the muzzling of the CIA (Dem. Pres. J. Carter).”

To read the August 2006 MCA Advisory issue, see: www.medalcollectors.org/pdf/the%20mca%20advisory%20august%202006.pdf

To read the earlier E-Sylum articles, see:
JULIAN'S POLITICAL/SATIRICAL MEDALS (www.coinbooks.org/esylum_v07n20a16.html)
THE POLITICAL SATIRE MEDALS OF R.W. JULIAN 1977-1981 (www.coinbooks.org/esylum_v15n40a19.html)
MORE ON R.W. JULIAN AND HIS POLITICAL SATIRE MEDALS (www.coinbooks.org/esylum_v15n41a14.html)

QUERY: JOSEPH WHARTON MEDAL INFORMATION SOUGHT

New subscriber Sam Winikor (swinikor@gmail.com) writes:

'TOENAIL HOARD' OF 500 COIN CLIPPINGS FOUND

Hundreds of 16th Century coin clippings have been discovered in a Gloucestershire field.

The 500 silver clippings, dubbed the Toenail Hoard, were unearthed by Gavin Warren using a metal detector in the Forest of Dean.

Shaved from the edges of coins dating back to 1560, the precious metal would have been melted down and sold.

Finds liaison officer Kurt Adams said: "Forty to 60 clippings is normal - one of this size is very, very rare."

Mr Warren - who unearthed the Yorkley Roman coin hoard in 2012 - said he was testing out a "beginner's metal detector" in a field, when he made the discovery.

"It was about four inches down, all in a big ball - we thought it was pieces of fencing until I spotted the words James I and Elizabeth I," he said.

"There were about 500 clippings - like pig tails - ranging from half crowns right down to pennies, all silver."

With hanging literally too good for those caught clipping the edges off silver coins in the 17th Century, Mr Warren said whoever buried the hoard had been risking their life.

"For women the punishment was being burnt at the stake, for a bloke it was being hung, drawn and quartered," he said.

"It would have been a lot to have been caught with."

Mr Adams, from the Portable Antiquities Scheme, said the hoard, currently being catalogued at the British Museum, was not only "one of the biggest" but a "fantastic bit of social history".

"The earliest clippings date from the reign of Elizabeth I, so 1560s to 1570s, and the latest from 1645," he said.

"It showed people were defrauding the Mint when it was enormously important that coins weren't tampered with in any way - so it's an incredibly rare find."

To read the complete article, see:
'Toenail Hoard' of 500 coin clippings found in Forest of Dean (www.bbc.com/news/uk-england-gloucestershire-34779378)

DNW OFFERS WARD COLLECTION OF BRITISH TOKENS

The second portion of Ron Ward’s British Tokens will be sold in London on December 7, 2015 by Dix Noonan Webb in their catalogue, “Coins, Tokens, Historical Medals & Paper Money”. This catalogue can be viewed online at: www.dnw.co.uk

Ron Ward collected British tokens for over 50 years. Eighteenth and early 19th century copper tokens were sold by Stack’s several years ago. His “Unofficial Farthings” (500+) were sold by DNW in 2014. The remaining tokens, largely Victorian copper tokens, will be auctioned in about 50 lots by DNW next month.

Lot 325

Of particular interest are lots 325—329 with countermarked and engraved issues listed by J. Gavin Scott in his book British Countermarks on Copper & Bronze Coins.

Lot 334

Imitation Spade Guineas are in lots 334-337. Several hundred Merchant Checks are listed (lots 338-348) with a strong emphasis on London. Five lots ( 351-355) of Private tokens as listed by R.C. Bell Tradesmen Tickets and Private Tokens 1785-1819 are of special interest as less than 10 pieces of some are known.

Lot 329

Ron’s favorite token (lot 329) is an engraved George III penny reading: "Fauntleroy the Robber of Widows & Orphans, etc." The catalogue has long write-up about the notorious Fauntleroy. There are illustrations of several hundred tokens which were not shown in many of the standard works on British tokens.

To view the complete catalog, see:
www.dnw.co.uk

CELTIC COINS FROM THE GEOFF COTTAM COLLECTION

Lot 238: Celtic, North Thames, Eastern, uninscribed coinage,

Celtic, North Thames, Eastern, uninscribed coinage, (c.60-20 BC), gold Stater, 5.53g, 'SS' type, two reversed 'S' motifs in field banding beneath, rev. annulate horse right, wing motif above, wheel below, sun before, dispersed symbols in field (ABC 2237; VA 1509-1; S.34), obverse die worn, reverse sharp and well struck, well rounded flan, pleasing, fine/extremely fine, excessively rare

provenance
Bt. Mills, 11 April 1999
Found nr. Norwich, Norfolk

To read the complete lot description, see:
Celtic, North Thames, Eastern, uninscribed coinage, (www.spink.com/lot-description.aspx?id=15049000238)

Lot 318: Celtic, Trinovantes and Catuvellauni, Tasciovanus, gold Stater

Celtic, Trinovantes and Catuvellauni, Tasciovanus, (c.25 BC-AD 10), gold Stater, 5.46g, 'Tasciov Rigon' type, tasciov above rigon in garnished tablet on vertical wreath, rev. warrior in chain mail riding left, spear and sword in hand, sun wheel below and ring-pellet before (ABC 2577; VA 1780-1; S.219), a little scraping to obverse, struck somewhat off-centre, full legends on this, good detail to horseman, very fine/good very fine, excessively rare

provenance
Bt. Paget, 17 March 2000
Found nr. Milton Keynes, Buckinghamshire

To read the complete lot description, see:
Celtic, Trinovantes and Catuvellauni, Tasciovanus, (c.25 BC-AD 10), gold Stater (www.spink.com/lot-description.aspx?id=15049000318)

Lot 357: Celtic, Trinovantes and Catuvellauni, Andoco gold Stater

Celtic, Trinovantes and Catuvellauni, Andoco (c.20-1 BC), gold Stater, 5.43g, 'Bucranium' type, crossed wreaths terminating with ring-pellets, opposing crescents in centre of wreath, various symbols in quarters, rev. horse right with garnished bucranium and pelletal sun above, ando below and before, other dispersed symbols, (ABC 2715; VA 1860-1; S.262), Some contact marks and small scratches, weakness in centres, otherwise pleasing with lustre and smooth fields, nearly extremely fine, very rare

provenance
Bt. Mills, 28 December 1995

To read the complete lot description, see:
Celtic, Trinovantes and Catuvellauni, Andoco (c.20-1 BC), gold Stater (www.spink.com/lot-description.aspx?id=15049000357)

Lot 368: Celtic, Trinovantes and Catuvellauni, Cunobelin gold Stater

Celtic, Trinovantes and Catuvellauni, Cunobelin, (c.10-40 AD), gold Stater, 5.51g, 'Biga' type, camvl in garnished tablet on vertical wreath, heart-shaped symbols in quarters, rev. biga left, leaf above, wheel and [cvnobelin] below (ABC 2771; Kretz B1, var. 1; VA 1910-2; S.280), struck off-centre, very light wear in remote parts, mostly lustrous with superb fields, essentially extremely fine, very rare

provenance
Bt. Vosper, 30 June 2000
Recorded with the Ashmolean Museum, Oxford, ref. CCI 00.1112

To read the complete lot description, see:
Celtic, Trinovantes and Catuvellauni, Cunobelin, (c.10-40 AD), gold Stater (/www.spink.com/lot-description.aspx?id=15049000368)

Lot 373: Celtic, Trinovantes and Catuvellauni, Cunobelin gold Stater

Celtic, Trinovantes and Catuvellauni, Cunobelin, (c.10-40 AD), gold Stater, 5.39g, 'Classic' type, garnished corn ear with central stalk flanked by ca mv, rev. Romanized horse right, crescent moon above, cvno on groundline and dotted 'earth' effect below (ABC 2801 - this coin; VA-; S.-), flan slightly irrregularl, small scrape on horse's rump, generally remarkably well presented, good centring both sides, the Romanized horse particularly appealing, nearly extremely fine, an excessively rare piece

provenance
Bt. Dix Noonan Webb, 5 October 2009, lot 5148
Recorded with the Ashmolean Museum, Oxford, ref. CCI 04. 2177
Found nr. Slough, Berkshire

To read the complete lot description, see:
Celtic, Trinovantes and Catuvellauni, Cunobelin, (c.10-40 AD), gold Stater (www.spink.com/lot-description.aspx?id=15049000373)

SELECTIONS FROM THE SPINK ORDERS & DECORATIONS SALE

Lot 116: Army Large Gold Medal to Lieutenant General Sir George Prevost

The Historically Important Army Large Gold Medal to Lieutenant General Sir George Prevost, Bt., 'The Defender of Canada' - The Governor General and Commander in Chief of British North America, 1811-1815, Who Was Inextricably Linked to Almost Every Major Action of the War of 1812, And Who 'Arguably, After the Duke of Wellington... Held One of the Most Important Commands in the British Empire During the Napoleonic Period... Sir George Prevost Became Responsible For Defending a Group of North American Colonies that Stretched as Far as Paris Did From Moscow, And He Eventually Commanded One of the Largest Overseas Forces Employed By the British During the Napoleonic Wars' General Officer's Large Army Gold Medal for Martinique (Lieut. Genl. Sir George Prevost.), extremely fine, with all the proper gold suspension fittings and full neck cravat

To read the complete lot description, see:
Army Large Gold Medal to Lieutenant General Sir George Prevost (www.spink.com/lot-description.aspx?id=15003000116)

Lot 131: East India Company's Medal for Egypt 1801

Honourable East India Company's Medal for Egypt 1801, 48mm, silver, a fine quality later striking with die cracks to obverse, nearly extremely fine, with contemporary pillar suspension

Provenance: Spink, April 2009

To read the complete lot description, see:
Honourable East India Company's Medal for Egypt 1801 (www.spink.com/lot-description.aspx?id=15003000131)

Lot 170: Kabul to Kandahar Star 1880
Kabul to Kandahar Star 1880 (Rifleman Chundree Groon 2nd Goorkha Regt.), very fine

To read the complete lot description, see:
Kabul to Kandahar Star 1880 (www.spink.com/lot-description.aspx?id=15003000170)

SELECTIONS FROM THE HERITAGE WORLD CURRENCY SALE

Lot 26137: China Russo-Chinese Bank - Tientsin 50 Taels

China Russo-Chinese Bank - Tientsin 50 Taels ND (1907) Pick S552s Specimen

The original name for the Russian interest bank appears on this example, with the denomination in taels. This bank later operated as the Russo-Chinese Bank, which used old remainders of this design to print an updated location of issue and denomination in dollars. This update obliterated many features, which can only be seen on a note such as this. The classical design with dragons and the more complex designs in the underprint is a trademark of Bradbury Wilkinson notes only for a few years around the turn of the century.

To read the complete lot description, see:
China Russo-Chinese Bank - Tientsin 50 Taels ND (1907) Pick S552s Specimen. (http://currency.ha.com/itm/world-currency/china-russo-chinese-bank-tientsin-50-taels-nd-1907-pick-s552s-specimen/a/3540-26137.s)

Lot 26086: China People's Republic 10 Yuan 1953 Pi

China People's Republic 10 Yuan 1953 Pick 870

The 1953 10 Yuan note is among the most coveted of modern Chinese notes. Attrition was high because of the economic turmoil in the decades after it was issued. As a high denomination, it was far out of the reach of much of the public, amounting to as much as three months worth of labor.

To read the complete lot description, see:
China People's Republic 10 Yuan 1953 Pick 870. (http://currency.ha.com/itm/world-currency/china-people-s-republic-10-yuan-1953-pick-870/a/3540-26086.s)

Lot 26221: Macau Banco Nacional Ultramarino 100 Patacas

Macau Banco Nacional Ultramarino 100 Patacas 22.7.1919 Pick 9

The crown jewel of Macau banknotes. This was the first 100 Patacas note issued by the BNU and was the highest denomination in circulation until the emergency issues in 1944. The first Patacas were introduced by the Portuguese Colonial government to simplify the multitude of currencies in circulation at that time, from Mexican Pesos to British Trade dollars (Macau was a major trading port). However, circulation of Patacas was not wide, as traders preferred specie or the more recognized and equally valued Hong Kong Dollar. Like early Hong Kong notes, large banknotes were often redeemed at the banks, leading to the scarcity of these notes today.

This stunning example is highlighted by its stainless paper and multicolor underprint as prepared by Bradbury Wilkinson and Company.

To read the complete lot description, see:
Macau Banco Nacional Ultramarino 100 Patacas 22.7.1919 Pick 9. (http://currency.ha.com/itm/world-currency/macau-banco-nacional-ultramarino-100-patacas-2271919-pick-9/a/3540-26221.s)

Lot 26029: China Bank of China - Shanghai 10 Yuan 1924

China Bank of China - Shanghai 10 Yuan 1924 Pick 62

An excellent issued version of this design which has only seen the lightest touches of circulation. The complex patterns and colors on the underprint are well preserved on this PMG About Uncirculated 55 example.

To read the complete lot description, see:
China Bank of China - Shanghai 10 Yuan 1924 Pick 62. (http://currency.ha.com/itm/world-currency/china-bank-of-china-shanghai-10-yuan-1924-pick-62/a/3540-26029.s)

Lot 26214: Japan US Occupation Kume-jima 50 Sen

Japan US Occupation World War II - Kume-jima 50 Sen ND (1945) Schwan-Boling 902

A chit printed by the hectograph method and having the facsimile signature of Economics Officer Wm. C. Lassiter. The small island of Kume-jima is in the western part of the Ryukyus, and United States personnel landed there on June 26, 1945. A need to pay local workers quickly developed, and scrip was the answer. Much more detail on this issue can be found on pages 312-13 of World War II Remembered by C. Frederick Schwan and Joseph E. Boling.

To read the complete lot description, see:
Japan US Occupation World War II - Kume-jima 50 Sen ND (1945) Schwan-Boling 902. (http://currency.ha.com/itm/world-currency/japan-us-occupation-world-war-ii-kume-jima-50-sen-nd-1945-schwan-boling-902/a/3540-26214.s)

THE KWEICHOW BAMBOO DOLLAR

According to Kann, the famous “Bamboo Dollar” from Kweichow province resulted from rampant inflation in the 1940s that devalued paper currency in China leading some provinces to begin minting their own metallic money. Minted in the “38th year of the Republic” (1949) this beautifully designed coin shows an incredible level of artistry and very little circulation.

Part of the reasoning behind the scarcity of this piece is the historical events unfolding around the time period. In late 1945 the Chinese Civil War resumed, with the communist forces controlling Beijing and other major Kuomintang cities passing to Communist control. As these were minted during this tumultuous period (under the Republican government) these coins were often buried (leading to often seen corrosion on this issue), hidden away in stashes (providing excellent collectible examples) or simply destroyed by the communist government and repurposed. As such, this coinage type from the twilight of the mainland Republic of China is exceedingly scarce and stands among classic Chinese numismatic treasures.

The obverse design features a stunning image of an iconic three story Chinese pavilion known by the name Jiaxiu Tower (First Scholar’s Tower). The name Jiaxiu hails from the Ming dynasty era when the tower was built and means “getting the very best in Imperial examinations.” The building was provided as a place to live study for these “number one scholars,” and records indicate that three such officials have honored the city by residing there. Standing at 66 feet high the tower is adorned with green tiles, red pillars, artistically engraved windows and stunning white stone parapets.

The initials “TLK” appear just below the door of the pavilion and are speculated to refer to the engraver of the coin. Two varieties exist for this “Bamboo Dollar,” identified by the window in the top story, with this being the “round window” variety. A wonderfully ornate border surrounds the Jiaxiu Tower on bridge design, with descriptive legends around. The upper legend states: “38th Year of the Republic of China” which means the year 1949. Beautiful rosettes separate the upper legend from the lower legend: “Made in Kweichow Province.”

The reverse design offers this coin its informal title of “Bamboo Dollar”; three stems of bamboo with leaves are encompassed by a saw-tooth border, followed by a beaded border and finally a crenulated outer border. The Chinese characters for “One Dollar” appear at either side of the Bamboo image. This example is tied with two other examples at this grade level with only three pieces certified finer by either PCGS or NGC.

Look for this and other world numismatic rarities in our upcoming December Hong Kong Showcase Auction.

To read the complete lot description, see:
CHINA. Kweichow. Dollar, ND (1949). PCGS AU-50 Secure Holder. (www.stacksbowers.com/BrowseAuctions/LotDetail/tabid/
227/Lot/60176/AuctionID/6115/Default.aspx)

To read the complete article, see:
Exceptional High Grade Kweichow Bamboo Dollar (www.stacksbowers.com/NewsMedia/Blogs/TabId/780/ArtMID/
2678/ArticleID/65465/Exceptional-High-Grade-Kweichow-Bamboo-Dollar.aspx)

THE LATVIA FIVE CATS FIVE EURO COIN

Pabitra Saha writes:

THE SESTERTIUS OF AGRIPPINA SENIOR

This Sestertius coin was a lone piece amongst 200 of the world’s finest Greek & Roman in an Auction at Sotheby’s in the 1995; time has made me forget the full story of who told me about the item. I do remember visiting London and meeting Tom Eden specially to see it; if one can ‘love’ a coin at first site then I was bewitched by the brass Sestertius. I was to have it at any price, the ageless portrait smiled at me from the coin, she was beautiful and dignified and I had not realized that such a piece existed with such beauty.

An embarrassing story of total irresponsible action of any human being to mortgage to acquire a coin. Prior to the sale I deposited the deeds of our house to get a loan. We acquired the coin for which I had a large pictures on the wall in my study for many years, she is as beautiful as the day I met her. The donkeys with such minute details.

There are coins that I enjoy for the perfect quality and those that are a “work of art”; a few are ‘masterpieces’. I am asked what you mean by a ‘masterpiece’, ask ten people and get ten answers; everybody has his own opinion of what is a ‘masterpiece’. I am spending a lot of time considering this point. Is it were the artist has detached himself to create a piece of art that will last for time memoriam.

To read the complete article, see:
Roman Coin Profile – Sestertius of Agrippina Senior (www.coinweek.com/ancient-coins/roman-coin-profile-sestertius-of-agrippina-senior/)

ROMAN COIN HOARD FOUND IN SWITZERLAND

The stash of more than 4,000 bronze and silver coins is believed to have been buried some 1,700 years ago.

Weighing around 15kg (33lb), he discovered the coins after spotting something shimmering in a molehill.

The regional archaeological service said the coin trove was one of the biggest such finds in Swiss history.

The trove was unearthed in July in Ueken in the northern canton of Aargau.

Since a Roman settlement was discovered in the nearby town of Frick, just a few months before, he suspected the coins might be of Roman origin.

The farmer contacted the regional archaeological service who, after months of careful excavation, announced on Thursday that 4,166 coins had been found in excellent condition.

Some of the coins date from AD 274 and the rule of Emperor Aurelian. The find also included coins from the time of Emperor Maximian in 294.

Swiss archaeologist Georg Matter, who worked on the excavation, said what they found within the first three days "exceeded all expectations by far".

To read the complete BBC article, see:
Trove of ancient Roman coins found in Switzerland (www.bbc.com/news/world-europe-34872657)

To read the complete article in German, see:
Spektakulärer Fund: Aargauer Bauer stösst auf römischen Münzschatz (www.aargauerzeitung.ch/aargau/fricktal/spektakulaerer-fund-aargauer-bauer-stoesst-auf-roemischen-muenzschatz-129745544)

To read the complete article, see:
In the money! Massive hoard of 4,000 Roman coins unearthed in Switzerland after lying undisturbed under a cherry tree for 1,700 years (www.dailymail.co.uk/sciencetech/article-3326915/Hoard-4-000-Roman-coins-unearthed-Money-laid-undisturbed-beneath-Swiss-cherry-tree-1-700-years.html)

THE PURCHASING POWER OF ANCIENT COINS

ONE OF THE MOST frequently asked questions that classical numismatists encounter is “What was this ancient coin worth back then?”

A meaningful answer must usually begin: “It’s complicated.” A more complete answer might include “It depends…”

In our global economy, where almost everything is instantly convertible into cash, we can state precise exchange rates: one US dollar is worth 0.87 euro or 0.95 Swiss francs, or 0.65 British pounds. But what is today’s value of a US dollar in terms of ancient Athenian drachmai, or ancient Roman sestertii? When an ancient Roman had a silver denarius in his purse, what could he buy with it? Ancient economies did not work like modern ones, and ancient writers, almost all slave-owning aristocrats who belonged to privileged elites, rarely wrote about the vulgar topic of money.

Bullion Equivalent Value
Ancient coins, like medals in the modern Olympic games, come in gold, silver and bronze. Can’t we simply express equivalent ancient and modern values in terms of precious metal? Gold closed this week at US$1,142 per Troy ounce[4], so a 7.0-gram ancient Greek gold stater from the time of Alexander the Great (died 323 BCE) represents a bullion value of $262.87. An 8.18-gram Roman gold aureus from the time of Julius Caesar (died 44 BCE) would contain gold worth $307.18.

But “bullion equivalent value” is a very shaky basis for comparing buying power across the centuries. We are comparing gold that was mined with slave labor and refined in charcoal-fired furnaces to gold that is mined with huge diesel-powered shovels and refined with modern physical and chemical methods. In the ancient world, copper alloys (bronze and brass) formed tools, weapons, statues, cooking vessels and countless other non-coinage uses. In our world, copper is a commodity used mainly for electric wiring.

Labor Equivalent Value
We know from many sources that a silver drachma or denarius was a typical day’s minimum wage for a manual worker. Taking today’s US$7.25 minimum hourly wage for comparison, a day’s labor would be worth $58. Keep in mind that when we compare labor equivalent values across the centuries, we are comparing an ancient world where muscle power was a primary energy source, to a modern world largely powered by engines, motors and data networks. In our world a small and diminishing number of farmers can each feed themselves and over 50 others. In the ancient world, most workers were farmers and they struggled to feed themselves and a few others.

Soldier’s Pay
Another way of thinking about labor equivalent is soldier’s pay – one of the most important items in the budget of ancient empires. In the fourth century BCE, Greek hoplites (armored infantry) typically received a drachma per day (sometimes supplemented by another drachma to pay for a servant while on campaign). Computed as an annual salary, this represents about 1,540 grams of silver or, converted into gold at the typical ancient 15:1 rate, 103 g of gold (about three-and-a-third troy ounces).

Now consider a modern soldier’s pay. A US Army E-2 with less than two years service earns a base pay of $20,808. That would buy over 40 kilograms of silver, or about 555 grams (18.2 troy ounces) of gold at current rates. So in terms of the gold standard, Americans value a foot soldier more than five times as highly as ancient Greeks, and more than eight times as much as ancient Romans did.

Summary
Ancient economies were largely “bimetallic.” Elites used gold coin, for purchases of luxury goods, property, and slaves. Silver coin typically circulated for the payment of wages, and bronze token coinage circulated for the purchase of daily necessities. At the risk of oversimplification, we can think of a small copper as the price of a loaf of bread, a pure silver coins as a worker’s daily wage, and a gold coin as the price of a good horse.

Modern currency is primarily “fiat money”, with a value determined by government, while ancient money was largely “commodity money”, with values determined by the supply and demand of precious metals.

To read the complete article, see:
What Were They Worth? The Purchasing Power of Ancient Coins (www.coinweek.com/education/worth-purchasing-power-ancient-coins/)

SOUTH FLORIDA ARTIST CONVICTED OF COUNTERFEITING

United States Attorney A. Lee Bentley, III announces that a federal jury has found Jean Phineas Losier (41, Wellington) guilty of conspiracy to deal in counterfeit Federal Reserve notes. He faces up to five years in federal prison. A sentencing date has not yet been set.

According to the trial testimony and court documents, Losier began manufacturing a specific United States counterfeit note (designated by the United States Secret Service as D23548 and D23548A) in 2008. Over the ensuing years, he engaged in a substantial counterfeit relationship with co-defendant Mercury Thompson, and others, to sell and pass the counterfeit $100 and $50 notes. Losier operated alone in the manufacturing process. Using laser printer and toner technology, and an elaborate bleaching and re-printing process, he stripped the ink from genuine $1 bills and then manufactured counterfeit $100 and $50 bills on the remaining paper.

On January 14, 2014, Secret Service agents executed search warrants at a Wellington apartment where Losier had manufactured the notes. The agents seized manufacturing devices and also located bleached genuine $1 Federal Reserve notes, chemicals and chemical residue, as well as other indicators of high volume bleaching. Detailed molds and templates, reflecting the image of genuine United States security watermarks, were located inside the residence. Losier, an artist, had etched the watermark molds.

Forensic analyses of the seized electronic media and counterfeit notes revealed Losier’s detailed manufacturing process, including images of the notes at virtually every stage of the manufacturing process. Investigators were able to forensically match the electronic devices to counterfeit $100 bills seized at various stores in the Jacksonville area during April and May 2010, including bills seized from the St. Johns Towns Center. The forensic comparison of the images also matched $4,200 of counterfeit $100 notes seized from a rental vehicle in which Thompson was present on July 12, 2012, and $10,000 in $100 counterfeit notes that another individual purchased from Losier on January 10, 2014.

According to Secret Service forensic examiners, the value of the known counterfeit notes (D23548 and D23548A) passed in the Southern and Middle Districts of Florida since late 2008 is more than $3.5 million. The known amount passed worldwide exceeds $4.3 million. After Losier’s arrest on January 14, 2014, the passing of these designated counterfeit notes ceased almost entirely.

To read the complete article, see:
Jury Convicts South Florida Artist In $4 Million Counterfeit Currency Conspiracy (www.justice.gov/usao-mdfl/pr/jury-convicts-south-florida-artist-4-million-counterfeit-currency-conspiracy)

When Jean Losier wasn't creating paintings and sculptures for clients at his South Florida studio, prosecutors say he was churning out more than $US4.5 million ($6 million) worth of counterfeit $50 and $100 bills at his home.

Demand was so great for his fake currency that the ink on some of the notes seized by federal agents was still damp and some of the notes were stuck together.

His website describes him as a mega-artist born in 1974; "in the illustrious country of Port Au Prince, Haiti" who "migrated to the promise land of the United States of America as a youth".

It says he is a prolific artist of elite drawings, paintings and sculptures, whose work has been exhibited widely and featured in the movie My Best Friend's Wedding in partnership with another Florida artist.

Losier was born in Haiti but moved to the US when he was three; it is likely he will be deported after he serves his prison sentence.

To read the complete article, see:
Florida artist who produced more than $US4.5 million in counterfeit money pleads guilty (www.smh.com.au/world/florida-artist-who-produced-more-than-us45-million-in-counterfeit-money-pleads-guilty-20151106-gksiwq.html)

MOY: BITCOIN ALLOWS MONEY TO BE PRIVATIZED

Former Director of the United States Mint Edmund C. Moy was featured on a panel during the recent Bitcoin Investor Conference in Las Vegas, and he shared an unique perspective on bitcoin for someone who was once a government official under the Bush and Obama administrations. Unlike most individuals involved in government who focus on monetary policy, economics, or the creation of fiat currency, Ed Moy enjoys the privatized nature of bitcoin as a potential currency. Moy sees Bitcoin as a technology that could bring back the days of a democratized money that is held in the hands of the people.

Money Used to Be in Private Hands
During Ed Moy’s comments at the Bitcoin Investor Conference, it became clear that he’s a fan of privately-held money. At one point, he described the democratized nature of money thousands of years ago:

Old Money Had Its Problems
Of course, there are a few issues with using chunks of electrum as money. Moy explained some of these problems during his remarks on privately held money:

Governments Tried to Solve Those Issues
Due to the fungibility issues related to old forms of money, governments stepped in to create common currencies that were easily recognizable. Moy briefly mentioned the positive effect this had on trade:

When you have something like a coin made up of a single precious metal, it becomes easier to verify the authenticity of the money and understand its value.

Bitcoin Can Privatize Money Again
Of course, with bitcoin, there is no need to create a uniform coin that is easily recognizable to the general public. A bitcoin is a bitcoin, and there are no standard measurements to worry about. There is no need to weigh it every time it is used in a transaction or store large amounts of it in a vault owned by a third party. Edmund Moy explained that bitcoin could allow money to become privatized once again:

Moy’s comments during this panel discussion fly in the face of JPMorgan Chase CEO Jamie Dimon’s recent comments on bitcoin. While Dimon could never see governments allowing an uncontrolled currency like bitcoin to prosper, Moy believes it could be the financial technology that brings money back to the private sector.

To read the complete article, see:
Former Director of US Mint: Bitcoin Allows Money to Be Privatized Again (http://insidebitcoins.com/news/former-director-of-us-mint-bitcoin-allows-money-to-be-privatized-again/35866)

To read the complete articles, see:
ED MOY'S THOUGHTS ON BITCOIN (www.coinbooks.org/esylum_v17n22a30.html)
FORMER MINT DIRECTOR MOY AT BITCOIN EXPO (www.coinbooks.org/esylum_v17n27a27.html)
ED MOY ON SAVING BITCOIN FROM THE REGULATORS (www.coinbooks.org/esylum_v17n29a17.html)

BITWALKING DOLLARS: GET PAID TO WALK

A digital crypto-currency has launched that is generated by human movement.

Bitwalking dollars will be earned by walking, unlike other digital currencies such as Bitcoins that are "mined" by computers.

A phone application counts and verifies users' steps, with walkers earning approximately 1 BW$ for about 10,000 steps (about five miles).

Initially, users will be given the chance to spend what they earn in an online store, or trade them for cash.

Japanese electronics giant Murata is working on a wearable wristband that will provide an alternative to carrying a smartphone and show how many BW$ the wearer has earned.

Shoe manufacturers are poised to accept the currency, and a UK high street bank is in talks to partner with the project at one of the UK's biggest music festivals next year.

The founders have a track record in disruptive technology that could help developing nations as much as richer ones.

Last year they launched Keepod, a $7 USB stick that acts like a computer in Nairobi, Kenya.

The idea of Bitwalking is to take advantage of the trend for fitness trackers by offering an additional incentive to keep fit.

The global scheme plans to partner with sportswear brands, health services, health insurance firms, environmental groups, and potentially advertisers who could be offered unique insights into the audiences they are targeting.

In the future, employers may be invited to take part in a scheme that would be offered to their employees to encourage them to stay fitter, with the currency they earn converted and then paid alongside their salaries.

To read the complete article, see:
Bitwalking dollars: Digital currency pays people to walk (www.bbc.com/news/technology-34872563)

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