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About Us The Numismatic Bibliomania Society is a non-profit association devoted to the study and enjoyment of numismatic literature. For more information please see our web site at coinbooks.org Subscriptions Those wishing to become new E-Sylum subscribers can go to the following web page Subscribe You may Unsubscribe Here Membership There is a membership application available on the web site Membership Application To join, print the application and return it with your check to the address printed on the application. Print/Digital membership is $40 to addresses in the U.S., and $60 elsewhere. A digital-only membership is available for $25. For those without web access, write to: Jeff Dickerson, Treasurer Numismatic Bibliomania Society P. O. Box 578, Weatherford, TX 76086 Asylum For Asylum mailing address changes and other membership questions, contact Jeff at this email address: treasurer@coinbooks.org Submissions To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com BUY THE BOOK BEFORE THE COIN Sale Calendar 02/28/2026 - Kolbe & Fanning - George F. Kolbe Anniversary Auction 04/25/2026 Workman's Book Sale 8

 

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.

WAYNE'S WORDS: THE E-SYLUM FEBRUARY 15, 2026

New subscribers this week include: Mitchell G. Davis, and Cho Chun Loong. Welcome aboard! We now have 6,682 subscribers.

Thank you for reading The E-Sylum. If you enjoy it, please send me the email addresses of friends you think may enjoy it as well and I'll send them a subscription. Contact me at whomren@gmail.com anytime regarding your subscription, or questions, comments or suggestions about our content.

This week we open with numismatic literature sale highlights, one new book, a periodical, three obituaries, updates from the Newman Numismatic Portal, and more.

Other topics this week include paper currency of Hyderabad and Puerto Rico, the American Tax Token Society, the Trial of the Pyx, Dick Johnson, the ANS move to Ohio, numismatist mirrors, Trade Dollars and the opium trade, the proposed new $2.50 coin, and How to Start a Coin Collection.

To learn more about Numismatic Notes and Monographs, Lorin G. Parmelee's collection, Muhr countermarks, Dr. John Rainey, tax tokens, the first Olympic medal, the Year of the Fire Horse, Karl Bitter's Pomona, auction selections, making change at the Lincoln Presidential Library, and Horticultural Society Award Medals, read on. Have a great week, everyone!

Wayne Homren
Editor, The E-Sylum

 

KOLBE & FANNING SALE 176 HIGHLIGHTS

The 50th anniversary auction of Kolbe & Fanning Numismatic Booksellers is being held on Saturday, February 28, 2026. The sale celebrates the 50th anniversary of the first mail-bid sale held by our founder, George Frederick Kolbe, on February 28, 1976. The sale features a wide array of rare and out-of-print works on ancient, world and U.S. numismatics, including a selection of works from Kolbe's personal library.

Some highlights of the sale include:

Lot 5: a complete set of Numismatic Notes and Monographs, comprising 172 monographs published on a variety of numismatic subjects by the ANS from 1920 to 2020

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NEW BOOK: PAPER CURRENCY OF HYDERABAD

Bengaluru-based numismatist Rezwan Razack's latest book, ‘Paper Money of the Princely State of Hyderabad', was launched last Saturday. It traces the story of Hyderabad's currency from the time of the first Nizam in 1724 to its withdrawal in 1959.

The book is a result of three years of in-depth research and builds on his 25-year study of Indian paper money. With little material available online, he relied on frequent visits to Hyderabad, where he explored archives and interacted with dealers, private collectors, and professionals at auction houses.

The book features over 600 photographs of notes, design patterns, and archival material. It goes beyond simple cataloguing and documents details of design, printing, packaging, circulation, and forgery of notes.

It also recounts the 1920 sinking of the SS Egypt, which was carrying Hyderabad notes printed in England, many of which were later salvaged.

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PERIODICAL: ORIENTAL NUMISMATIC SOCIETY WINTER 2025

Journal of the Oriental Numismatic Society
262 | Winter 2025

Editorial
Paula Turner

XRF and other new evidence on the dating of the boar/lion coins of Bactria
Pankaj Tandon

The Western K?atrapa ruler Visvasi?ha and a (not so) new Brahmi inscription
Shailendra Bhandar

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JOHN R. MELVILLE-JONES (1933–2026)

In Memory of John R. Melville-Jones (1933–2026)

The ANS is deeply saddened to learn of the passing of John R. Melville-Jones AM, ANS Life Fellow, and Emeritus Professor in the Department of History and Classical Studies at the University of Western Australia.

Born in the United Kingdom, Melville-Jones was a graduate from the University of Cambridge and earned his Ph.D. from the University of Western Australia in 1963. While at the University of Western Australia, he became a junior lecturer, first teaching Ancient Greek history and language. He went on to become a well-known educator in numismatics, particularly ancient Greek and Roman coinage. His seminal book Testimonia Numaria: Greek and Latin Texts Concerning Ancient Greek Coinage (vol. 1, Spink, 1993; vol. 2, Spink, 2007) has become a resource that many researchers keep within arm's reach when studying the nature of ancient money. His other prominent publications include A Dictionary of Ancient Greek Coins (Seaby, 1986), A Dictionary of Ancient Roman Coins (Seaby, 1990), and Testimonia Numaria Romana: Greek and Latin Texts Concerning Roman Coinage (Spink, 2023), which have been used by numerous students and collectors.

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JOSEPH ALI DOW (1940-2026)

Joseph A. Dow, age 85, passed away Thursday, February 5 at Mercy Hospital in Oklahoma City. Joseph was born March 17, 1940 in the city of Latakia, Syria to Ali and Zaynab Dow. He immigrated to the gulf coast of the United States when he was 25, where a few years later he met his wife and lifelong partner, Marjorie Havard Dow.

Joseph graduated from Louisiana State University with a Bachelor of Science in Petroleum Engineering. His true passion was, however, history. He was an accomplished numismatic scholar, lifetime member of the American Numismatic Association, and published author on biblical coins.

He loved his friends and family deeply and cared greatly for his community. He served as treasurer on his neighborhood homeowners association and led a Bible study group at his church. Joseph was a devoted husband and adoring father. His warmth, selflessness, and care left its mark on everyone who knew him.

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DR JOHN RAINEY MBE (1951-2026)

On Tuesday, February 10, 2026, Keith Mawhinney, Secretary of the Numismatic Society of Ireland (Northern Branch) wrote:

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NNP ADDS AMERICAN TAX TOKEN SOCIETY NEWSLETTERS

Newman Portal Adds American Tax Token Society Newsletters

Courtesy of John Ostendorf, NNP has added the American Tax Token Society (ATTS) Newsletters for the years 2011-2025, completing a 50+ year run of the publication that began in 1971. The ATTS concluded its operation at the end of 2025, and the club leaves an extensive legacy of related research.

For those not familiar, tax tokens represent a short-lived fiscal convenience created to handle fractional sales taxes that arose when states and municipalities imposed rates like 1%, 2%, or 3% on low-priced goods. States authorized inexpensive metal or fiber tokens, typically valued at 1 mill (one-tenth of a cent), to make exact change possible. Retailers used these tokens to collect the precise tax due, then returned them in bulk to state tax authorities or wholesalers for redemption. Their use peaked in the late 1940s and early 1950s, and faded as prices rose, rounding rules were adopted, and tax rates were adjusted to avoid fractions. Today, tax tokens hearken to an era when a penny remained substantial enough that splitting it into further parts actually made sense (pardon the pun).

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VIDEO: 2016 EAC BOURSE CHAIRMAN JOHN KRALJEVICH

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2026 TRIAL OF THE PYX HELD AT MANSION HOUSE

The Royal Mint has submitted 7,838 coins for testing at one of the UK's oldest judicial ceremonies, the Trial of the Pyx.

For the first time, this has been held for the first time in its 777-year history at Mansion House in the City of London.

The official residence of the Lord Mayors of the City of London since 1752, in November 2025 Mansion House became home to the first Lady Mayor, Dame Susan Langley, DBE.

A freeman of the Goldsmiths' Company, the Lady Mayor welcomed spectators to the Egyptian Hall, which is based on designs by the classical Roman architect Vitruvius of Roman buildings in Egypt.

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MORE ON THE FIRST OLYMPIC MEDAL

As we're still watching our Olympic team compete for gold, I thought I'd follow up to the 1896 Olympic medal portrayed in last week's E-Sylum currently offered for sale by Danish auction house Bruun Rasmussen. The 1896 silver Olympic medals were only awarded to the winners of the 43 events which were held in nine different sports. Engraved by Jules-Clement Chaplain, the Paris Mint's official medalist at the time, the medals were struck, had a dull or brushed finish, and measured 50 millimeters in diameter.

The medal's obverse portrays Zues with beard and curling hair, often remarked for its similarity to the famous mask of Jupiter found at Otricoli, Italy, and now housed in the Vatican Museum. In his right hand Zues holds a globe upon which balances the winged figure of Victory holding a laurel branch. On the left is a perpendicular "Olympia" in Greek. The reverse portrays the Acropolis topped with the ruins of the Parthenon, with the Propylaea to the left. On the far left, barely visible, rises the peak of Corydallus, from which, according to legend, Xerxes viewed the Battle of Salamis and the destruction of his Persian fleet. The Greek legend atop the reverse reads, "International Olympic Games," and in the exergue, in two lines, it reads, "At Athens, 1896."

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NOTES FROM E-SYLUM READERS: FEBRUARY 15, 2026

More on the Keinen Mann, Keinen Pfennig Poster

Regarding the question by Steve Roach about the German Poster "Keinen Mann, Keinen Pfennig", Ron Guth writes:

To read the earlier E-Sylum article, see:
NOTES FROM E-SYLUM READERS: FEBRUARY 8, 2026 : Keinen Mann, Keinen Pfennig Poster (https://www.coinbooks.org/v29/esylum_v29n06a18.html)

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MODEL DORIS BAUM AND KARL BITTER'S POMONA

In Sara Cedar Miller's 2003 book, Central Park, An American Masterpiece, Miller revealed a numismatic tidbit regarding model Doris Discher Baum, who posed for Herman MacNeil's Standing Liberty quarter. While the controversy surrounding the identity of MacNeil's model is well known, Baum apparently kept her involvement with another statue a secret as well.

In 1916, the Pulitzer Fountain was dedicated at Fifth Avenue and 59th Street, along the outskirts of Central Park. The fountain featured a statue of Pomona, the Roman goddess of abundance. While working on the figure, sculptor Karl Bitter was killed in a car accident, and an assistant completed the piece. For whatever reason, Baum chose to keep her identity a secret and later revealed it along with her revelation that she also posed for a piece of American coinage.

Miller's text reads:

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DICK JOHNSON AND NUMISMATIC LITERATURE

Twenty-six years ago Fred Lake said he was going to "sign-me-up" to a new and really helpful online publication, and in the January 23, 2000 E-Sylum you announced that I was one of four new subscribers, bringing the total to 275.

You've done a great job, Wayne, with a lot of dedicated time, and with remarkable consistency as well from week-after-week . . . and I also think you're a great dad to take your daughter to Switzerland for a Taylor Swift concert!

My friend and shoreline neighbor Bryce Brown started to sell Dick Johnson's library in January. You also had a related announcement in a recent E-Sylum. Dick was a prolific E-Sylum contributor. When he died a few years ago at age 90 (D. Wayne Johnson, August 27, 1930 – December 29, 2020) there were many kind tributes to him. However, I don't know if anyone included a photo of Dick on the front page of the March 1960 Volume 1, Whole No. 0 "Sample Edition" of the first issue of Coin World, for which Dick served as Coin World's first editor. The newspaper made its debut with the announcement: "The first weekly newspaper devoted entirely to coins and coin collecting, the Coin World will be published and edited by experienced newspaper people."

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OHIO WELCOMES ANS RELOCATION

In 1858, the American Numismatic Society was founded by a 16-year-old coin enthusiast in his family apartment in Manhattan. It has since transformed from one hobbyist's passion project into an extensive collection of coins and medals, and now attracts scholars from all over the world.

But the rising cost of living and real estate in New York eventually became an unsustainable burden for the group.

Seeking a new home that better suited their financial and spatial needs, the ANS executive director, Ute Wartenberg Kagan, began looking beyond the island of Manhattan. Ultimately, the solution didn't come from a boardroom or a broker — it came from a fifteen-minute phone call with an old friend.

Now, after 168 years in New York, the ANS and its historic collection are moving their headquarters to Toledo.

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VOCABULARY TERM: SHAPE

Shape. The outer configuration of a numismatic or medallic piece. Most struck numismatic pieces are, of course, round (see circular form) and are formed by blanking or turning off. While most medallic items are also round, some are noncircular and are formed by trimming, jigsawing or silhouetting (see unusual shape). Shape has considerable impact on the meaning of the item; round items are traditional, sensuous and utilitarian. Unusual shapes are symbolic, assertive, and beauteous. Shape not only adds to the symbolic nature of these medallic items, but also adds to their charm, and in the case of a talisman or amulet, to their mysticism. Product shape adds to their commercial appeal, often a token of the product indicated; map shape emphasizes a geographical outline.

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NUMISMATIST MIRRORS

This week I return to my occasional articles on numismatic association items. I suspect that most E-Sylum readers are not familiar with the extent of numismatist mirrors. All items illustrated are from my collection.

Typical numismatist mirrors are round and 2.25 to 2.5 inches in diameter. One side has a glass mirror with the other side a steel shell, a printed image and a plastic cover. The machine to make them is also used to make pinback buttons. The machine to make them is sold by Badge-a- Minute Company to individuals who want to make up a small quantity.

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HERITAGE: ITALY WORLD COINS SHOWCASE

Republic gold Prova 20 Lire 1925-R MS62 NGC, Rome mint, Pag-565. "PROVA DI STAMPA" on reverse. Mintage: 75. The accompanying Prova 10 Lire we have in this sale. Very rare.

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ARCHIVES INTERNATIONAL SALE 111 SELECTIONS

Ethiopia…., 1932. 50 Thalers, P-9, Issued Banknote, Blue-green on m/c underprint, Lion at center with bank building at upper left and arms at right, Back is m/c, S/N C/1 08066, PMG graded Choice Very Fine 35 with comment "Minor Rust," BWC. This is the highest graded example to be offered at auction since 2022, where 2 different examples sold for over $2000 each, one graded a PMG 20 and the second graded PMG 45. A lovely note that is sure to attract attention.

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KUENKER AUCTION SALES 438-441, PART ONE

Künker is the place to go when it comes to selling large and important collections. Many collectors know this, as is demonstrated once again by Künker's upcoming Spring Auction Sales. They will be held from 16 to 20 March 2026 and contain numerous important and extensive collections.

Coins from the Ancient World

Auction 438 with coins from the ancient world is dominated by three large collections. On offer are the Topp / Dormagen Collection, the Jürgen and Erika Schmidt / Bovenden Collection as well as the Everglades Collection. Anyone who loves ancient coins will find carefully selected specimens from all areas that will make a collector's heart beat faster.

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THE TRADE DOLLAR'S LINK TO OPIUM TRAFFICKING

In 2020, I was researching an article for The Numismatist debunking the tired myth that the U.S. Trade dollar was an overall failure; it was a success in the Orient for its intended purpose as an instrument of international trade. Nonetheless, while working on that article I discovered two sources that grabbed my interest. They were both from the American Journal of Numismatics, which was published from 1866-1924. I consider the Journal to be among the best published numismatic source material available. Those two sources were the spark for my researching and writing a different article: "Blood Money: America's Role in the Opium Trade" (The Numismatist, May 2023).

I am including the first two paragraphs of "Blood Money" below. Material from the two sources are incorporated into these paragraphs.

It was in late 1875 that a report in a San Francisco newspaper discussed the U.S. Trade dollar's link to opium trafficking. Devised to compete with the Mexican dollar for trade in China, once the coinage arrives there, "it encounters an ignominious fate. The Chinese send it to India for the purchase of opium. They go into the Calcutta Mint and come out as rupees," according to the article.

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MAKING CHANGE AT THE LINCOLN PRESIDENTIAL LIBRARY

At the Abraham Lincoln Presidential Library and Museum in Springfield, visitors can shop for sweatshirts, pillows, jewelry and chocolates using coins bearing the face of perhaps the most-famous Illinoisian, Abraham Lincoln.

But even here, pennies are growing scarce at the cash register.

The museum gift shop, like the rest of the country, is grappling with a penny shortage after the United States Mint halted production of the coin in November, citing the rising cost of producing them.

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CHARTERS OF FREEDOM DECLARATION COIN

The United States Mint announced today that it is releasing the first coin in the three-year Charters of Freedom Platinum Proof Coin Series on Friday, February 6, 2026, at noon EST. The first coin in the series is the 2026 Charters of Freedom Platinum Proof Coin – Declaration of Independence (product code 26EJ. Each coin is encapsulated and then placed in a stylish clamshell and presentation box. It is accompanied by a certificate of authenticity bearing an image of the obverse. Orders are limited to one coin per household for the first 24 hours of sales. The mintage is limited to 15,000 units.

American Eagle Gold, Platinum, and Palladium Coins are priced according to the United States Mint's Pricing Policy.

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$2.50 SEMIQUINCENTENNIAL COIN PROPOSAL

In honor of the signing of the Declaration of Independence 250 years ago, the U.S. House unanimously approved legislation Monday to make $2.50 coins to commemorate the anniversary.

The bicameral, bipartisan $2.50 for America's 250th Act would authorize the U.S. Treasury to mint a collectible $2.50 commemorative coin this year. Rep. Robert Aderholt, R-Haleville, sponsored the bill.

"This coin will memorialize and celebrate our moment in American history," Aderholt said on the House floor.

The legislation also calls for a viability study on a potential circulating $2.50 coin for everyday use. The coins would feature the historical design originally issued for America's 150th anniversary coins.

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HERITAGE: MASSACHUSETTS HORTICULTURAL SOCIETY

The Massachusetts Horticultural Society was founded in 1829, and from the beginning some of its primary objectives were "recognition and reward for accomplishments in horticulture." Initially, awards were generally cash prizes given to individuals who were recognized as advancing the Society's objectives. However, in 1845, award medals began to be issued.

The Society's medals and awards went through numerous changes over the course of the ensuing century, not only in design and purpose, but in how liberally they were handed out. By the early 20th century, cash prizes were entirely replaced, and the medal system was redefined.

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1978 CAMP DAVID ACCORDS PEACE MEMORIAL

This is a photo of the Peace Memorial medal modeled by sculptor/artist Domenico Mazzone in 1978 to commemorate the Camp David Accords. On the obverse of the 1¼" bronze medallion are three bas-relief portraits of Prime Minister Menachem Begin of Israel, President Jimmy Carter and Egyptian President Anwar Sadat and the word peace in Hebrew, Egyptian and English. On the reverse is seen a stylized Pyramid on which appears the word Peace in both Hebrew and Egyptian along with a rendering of the stone tablets on which are inscribed the Ten Commandments. The branches and tree leaves are symbolic of the Nile River, the life-source of Egypt and the pharaohs. I do not know the number of copies that were made, but how one came into my possession a quarter century ago has a backstory.

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PUERTO RICAN PAPER MONEY

Puerto Rico has a rich paper money history. They were the first jurisdiction in the New World to issue local paper money because of a shortage of silver currency that was largely due to piracy. This was the beginning of Puerto Rico's lengthy history of lacking resources due to outside forces.

Provisional paper money known as tengos or papeletas as well as loans from merchants were adopted to confront this emergency. These items were prone to counterfeiting due to their simplicity, which prompted an official issuance of paper money for Puerto Rico in 1766. (Pedro Tomás de Córdova in 1832)

While there are records of the money from 1766, there are no surviving examples known. The earliest discovered example of this type of currency is a 1781 issue of the 8 Reales which would be a second issue in 1769 under Governor Muesas.

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HOW TO START A COIN COLLECTION

This year, the Federal Reserve will begin officially "phasing out" the penny. The plucky little copper-colored coin used to be able to fetch you a piece of candy from the corner store. Then it was found mostly tucked into loafers and floating at the bottom of wishing wells and fountains. As much as we hate to see them go, you have to admit you haven't had an actual use for a penny in years…unless you found one on the street (face up, of course) and picked it up hoping for a good luck boost.

But the idea that a coin could do its duty and then be retired might spark something else in you–maybe a desire to find more out-of-date and discontinued coins. Maybe this leads you to dig into the history of coin production, and the hidden secrets and details that distinguish one from another. Before you know it, you might want to become a full-fledged coin collector. A numismatist, if you want to use the proper term.

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ABOUT THIS ISSUE: FEBRUARY 15, 2026

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