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The E-Sylum: Volume 23, Number 24, June 14, 2020, Article 39

LOOSE CHANGE: JUNE 14, 2020

Here are some additional items in the media this week that may be of interest. -Editor

A Muled 1840-(O) Half Dollar

Steve Roach highlighted a VERY interesting U.S. coin sold in April by Heritage in a June 8, 2020 Coin World article. Congratulations to the buyer. -Editor

Muled 1840-(O) Half Dollar

"At one time thought to be a Philadelphia Mint issue, the 1840-(O) is essentially a muling of two half dollar series — pairing a Seated half obverse with an 1839 Capped Bust half reverse (type of 1838 with Medium Letters and a larger eagle)."

The 1839-O Capped Bust half dollars featured an obverse Mint mark, so reverse dies for half dollars that year show no Mint mark. Seated Liberty half dollars had the Mint mark on the reverse.

To read the complete article, see:
Market Analysis: Where's the New Orleans ‘O' Mint mark on this half dollar? (https://www.coinworld.com/news/us-coins/market-analysis-where-s-the-new-orleans-o-mint-mark-on-this-half-dollar)

Bolen's Springfield Pioneer Baseball Club Medal

Over on the Coin Talk discussion board, John Milton published a nicely researched and illustrated article on Bolen's Springfield, MA Pioneer Baseball Club Medal -Editor

Bolen Springfield Pioneer Baseball Club Medal

As the Major League Baseball owners and players debate whether or not there will be a season, I thought it would be appropriate to look and one of baseball's earliest collectables, the Springfield, Massachusetts baseball medal. This piece, which was issued in 1861 at the dawn of the Civil War, provides us with a glimpse of mid 19th century American life. In those days, baseball was not just a game that children and adult professional baseball players played that a much larger number of fans only watched. It was a sport that provided the nucleus for social clubs that gathered for recreational activities the year round. In fact some clubs spent so much time having parties, dances and dinners that they almost forgot about the games on the field!

To read the complete article, see:
The Springfield, Massachusetts Pioneer Baseball Club Medal (https://www.cointalk.com/threads/the-springfield-massachusetts-pioneer-baseball-club-medal.361425/)

2021-dated Morgan and Peace Silver Dollars

The U.S. Congress has been distracted by current events, but don't forget there are coinage bills working their way through the system, too. CoinWeek published another article about the legislation for 2021-dated Morgan and Peace silver dollars. -Editor

2021 fantasy morgan dollar Last year the 1921 Silver Dollar Commemorative Coin Act, which proposed issuing 2021-dated Morgan silver dollars and Peace dollars, was introduced. Though the proposed program remains popular with collectors, the bill never gained much support in Congress. Just before the year ended, the Congress passed the Law Enforcement Commemorative Coin Act and earlier in the year it had passed the Christa McAuliffe Commemorative Coin Act. Since only two commemorative programs can be issued per year, this appeared to mean there would be no 2021 Morgan and Peace dollars.

But on March 11 a new approach to doing this was proposed by Rep. Andy Barr (R-KY06), the 1921 Silver Dollar Coin Anniversary Act (H.R. 6192), which if enacted would result in the issuance of 2021-dated Morgan and Peace silver dollars to mark the centennial of the transition in 1921 from the Morgan dollar to the Peace dollar series. Those coins would not be commemoratives but would be legal tender silver coins issued beginning January 1, 2021, that contain at least 90% silver.

If you as a collector support the issuance of 2021 Morgan and Peace dollars, be sure to contact your congressional representative and ask them to support the bill.

To read the complete CoinWeek articles, see:
New Plan for 2021-Dated Morgan and Peace Silver Dollars (https://coinweek.com/us-coins/new-plan-for-2021-dated-morgan-and-peace-silver-dollars/)
A Coin Analyst Exclusive: Morgan and Peace Silver Dollars Proposed as Ongoing Program (https://coinweek.com/modern-coins/a-coin-analyst-exclusive-morgan-and-peace-silver-dollars-proposed-as-ongoing-program/)

To read the earlier E-Sylum article, see:
1921 SILVER COIN ANNIVERSARY ACT SUPPORT SOUGHT (https://www.coinbooks.org/v23/esylum_v23n12a17.html)

How the Fed Makes Money

Here's a good explainer article on how the U.S. Federal Reserve literally makes money. -Editor

It is common to hear people say the Fed prints money.

That's not technically correct. The Bureau of Engraving and Printing, an agency of the U.S. Treasury, does the printing. The Fed, for its part, purchases cash from the bureau at cost and then puts it in circulation.

Although you may have heard some economists talk about the Fed figuratively dropping cash from helicopters, its method of distribution isn't quite as colorful.

To read the complete article, see:
How the Federal Reserve literally makes money (https://theconversation.com/how-the-federal-reserve-literally-makes-money-140305)



Wayne Homren, Editor

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