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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 (or wishing to Unsubscribe) can go to the following web page link 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 Watch here for updates!

 

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 AUGUST 25, 2024

New subscribers this week include: Edward Szetela. Welcome aboard! We now have 7,249 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 NBS publication awards and ANA Numismatic Literature exhibit awards, one new book, updates from the Newman Numismatic Portal, notes from readers and more.

Other topics this week include Classic Head Large Cents, DeWitt Smith, error coins, auction previews, a Roman coin hoard, Roman-era silver ingots, tally sticks, checks and instant payments, inflation-indexed bonds, U.S. private gold mints, the coins and banknotes of King Charles III, Mardi Gras doubloons, and the Medal of Honor.

To learn more about the works of David R. Sear, early numismatic photography, archiving numismatic websites, Peale's Toggle Joint Press, multiple talers from the Thirty Years' War, Regina Adams, the Mauritz Hallberg Collection, a necklace of Roman gold coins, the tax system in medieval England, the Carolean definitives, two Union Civil War heroes, and gift card scams, read on. Have a great week, everyone!

Wayne Homren
Editor, The E-Sylum

ANA AWARDS NBS AND LITERATURE EXHIBITORS

ANA Awards NBS and Literature Exhibitors

In conjunction with the World's Fair of Money, the ANA announced club publications awards recognizing NBS. The E-Sylum won second place for best electronic club publication, while the print Asylum won third place for best specialty club publication. Congrats to our editors, Wayne Homren and Maria Fanning.

The ANA further awarded three exhibitors in the Numismatic Literature category, which is acknowledged by the Aaron Feldman award. Erwin Brauer won first place, for "Two Significant Numismatic Entrepreneurs: Their Selected Unique, Rare and Related Literature, while second place went to Michael Shutterly, for "A Library of the Works of David R. Sear." Franklin Noel took third place for "Odyssey of a Half Cent: From Discovery Coin to My Coin." Special mention should also be made of Mark Ferguson's non-competitive exhibit, which presented a series of rare and/or unique documents related to the 1804 dollar.

NEW BOOK: SAMMLUNG FRIEDRICH POPKEN

ZIEGERT, M.

SAMMLUNG FRIEDRICH POPKEN. DIE LÖSER DER BRAUNSCHWEIGISCHEN HERZOGTÜMER 2024

FRIEDRICH POPKEN COLLECTION. THE REDEEMERS OF THE BRUNSWICK DUCHIES 2024

Numismatischer Verlag Fritz Rudolf Künker GmbH & Co. KG: Osnabrück 2024.
176 pages, with numerous color illustrations.
ISBN: 978-3-941357-20-4

Friedrich Popken is well-known far beyond the borders of Germany. In the 1980s, he and his wife Ursula had the idea of creating a company that would produce fashionable clothing for plus-size women. Today, Ulla Popken GmbH is part of the Popken Fashion Group, which sells fashion under four different brands in Europe and the U.S.: Ulla Popken, Gina Laura, JP 1880 and Studio Untold. The origins of the fashion company date back to 1880, when Johann Popken founded his textile company in Hameln. Since 2012, the fourth generation of the Popken family, Astrid Popken and her husband Thomas Schneider, have been carrying on the torch.

You can find out all this on Wikipedia. However, Wikipedia will not tell you that Friedrich Popken is one of Germany's most passionate coin collectors. His interests are not only limited to one field – Friedrich Popken has built up various collections over the years. His spectrum ranges from ancient bronze coins to numismatic rarities from Lower Saxony and Northern Germany, coins and medals of the Welf dynasty, the Archbishopric of Salzburg and much more.

He has always had a particular fondness for lösers. This is why he assembled one of the largest collections in this field to date. It comprises 243 pieces, including 13(!) juliuslösers, 7(!) jakobslösers, 10 unique pieces, 6 coins of a type of which only one other specimen is known of, two unpublished varieties and two lösers of which only these specimens are available on the market.

Such a collection is simply too extensive to auction off at once. That is why Friedrich Popken and Künker decided to separate it into small, manageable parts. Since 2021, five Künker auction have featured several dozen lösers each.

While this makes sense from an economic point of view, it complicates matters for those who want to reference the collection. It was therefore decided to publish the entire collection in one monograph. It includes consecutive numbering, but the exact source in the auction catalog as well as the estimate and the hammer price were also given for each individual piece.

Friedrich Popken and Fritz Rudolf Künker have known each other since the early 1970s. A trusting business relationship developed into a deep numismatic friendship. The catalog presenting all lösers of the Friedrich Popken Collection, published in 2024, is a testimony to this friendship.

To read the complete article, see:
German lösers – For Those who Appreciate Multiple Taler (Page 22) (https://www.kuenker.de/data/mitteilungen/Kuenker_Broschuere
_Jakobsloeser_Final_LowRes.pdf)

For more information, or to order, see:
ZIEGERT, M. COLLECTION FRIEDRICH POPKEN. THE REDEEMERS OF THE BRUNSWICK DUCHIES 2024 (https://www.kuenker.de/de/shop/stueck/416184)

To read the earlier E-Sylum article, see:
FRIEDRICH POPKEN (1940-2024) (https://www.coinbooks.org/v27/esylum_v27n33a08.html)

FANNING ON EARLY NUMISMATIC PHOTOGRAPHY

David Fanning Speaks on Early Numismatic Photography

With many coin clubs moving to virtual meetings during the pandemic, recording and archiving meeting video was a natural step in sharing numismatic knowledge. While most clubs have returned to an in-person format, more than a few have migrated to a both and offering, with live meetings held in conjunction with video streaming. The St. Louis Ancient Coin Study Group is one such group, and their meeting video since 2021 is now archived on Newman Portal.

A recent meeting featured David Fanning speaking on Early Numismatic Photography, 1849-1869. The topic forces the researcher to cast a wide net, as these publications spanned America and Europe. Numismatic illustration has a long tradition, beginning with Fulvio's Illustrium Imagines in 1517. Coins by their nature demand images, and it's not surprising that the subject attracted early photographers. Fanning walks us through the nascent era of coin photography, revealing a series of little-known contributions to the art that appeared in auction sales catalogs and other publications.

Link to David Fanning speaking on early numismatic photography:
https://nnp.wustl.edu/library/book/641021

Link to St. Louis Ancient Coin Study Group meetings on Newman Portal:
https://nnp.wustl.edu/library/multimediadetail/552485

VIDEO: CLASSIC HEAD LARGE CENTS

Pennsylvania numismatist and collector Gerald Kochel analyzes the popular Classic Head Large Cents struck from 1808 to 1814. This short-lived series is a challenge for numismatists and includes some very rare varieties. In this presentation you will see and learn:

• The different die combinations determine those varieties
• How to tell the three varieties of 1808
• Single variety of 1809
• Five varieties of 1810 including the overdate
• Two varieties of 1811
• Different varieties for the 1812
• 1813 and the two varieties
• How to tell the two varieties of 1814
• Books to help you learn more about these coins

From the 2009 FUN convention.

To watch the complete video, see:
Classic Head Large Cents of 1808-14 (https://youtu.be/O3FMJcEHKZA)

 

ARCHIVING NUMISMATIC WEBSITES

Kavan Ratnatunga writes:

Kavan continues:

Here's the NNP entry:
Charles E. Boyle Diary (https://nnp.wustl.edu/library/book/641070)

Gerry writes:

Packrats like us are the fodder for Swedish death cleaning, a decluttering trend based on the idea of thinning your material possessions in life, so you don't burden your survivors in death. But many people now burden their survivors with nonmaterial possessions, too, in the form of countless digital files and online accounts. (Especially those who believe in archiving every email and file.)

That's why you need a digital death cleaning plan—one that gives you the full benefits of retaining your digital history while you're alive but thinks ahead to what your children are going to do with all that when you're gone.

To read the complete article, see:
Why Everyone Needs a ‘Digital Death-Cleaning' Plan (https://www.wsj.com/personal-finance/digital-death-cleaning-plan-f407cf27)

The internet is aging. As soon as the 2060s, there may be more dead than alive users on Facebook. Many of the platforms that are now part of society's basic infrastructure face a similar prospect. What happens to these platforms—and their users—when they die, will become a critical battleground for the internet's future, with major implications for global power relations. Yet we have done virtually zero preparation for it.

We know that everyone using the internet will die, and that hundreds of millions, or even billions, will do so in the next three decades. We also know that this poses a serious threat to an economy based on targeted advertisement (the dead don't click on any ads, but require server space nevertheless). Yet the tech giants appear to have no plan for what to do as their (undeniably material) servers are filled with dead user data. Since dead people generally lack data privacy rights, it may gain a new commercial value as training data for new AI models, or even be sold back to the descendants in a kind of heritage as a service deal. But the ethical aspects are thorny, and the financial bearing shaky.

Experience (and sheer logic) also tells us that the platforms that dominate tech today will sooner or later fail and die. What will happen to the user data? Can it, like other assets, be auctioned to the highest bidder? Will it be used to train new algorithms to trace the users, or their descendants? A hypothetical failure of a DNA testing company that stores our most personal information on their servers is a chilling example. These questions show how the fate of our digital remains is inextricably entangled with the privacy of the living. Yet, as of today, their answers are few and vague, as if the thought of a tech giant dying were beyond our comprehension.

To read the complete article, see:
Everyone on the Internet Will Die. We Need a Plan for Their Data (https://time.com/7005363/internet-postmortal-age-data/)

NOTES FROM E-SYLUM READERS: AUGUST 25, 2024

Shout Out to ANS and NNP

Michael Zachary writes:

The Lysander Spooner Award
Frank Robinson writes:

Frank adds:

For more information, see:
Lysander Spooner Award for Advancing the Literature of Liberty Given by Laissez Faire Books (https://www.librarything.com/award/4653/Lysander-Spooner-Award-for-Advancing-the-Literature-of-Liberty)
Lysander Spooner (https://www.lysanderspooner.org/)
Lysander Spooner (https://en.wikipedia.org/wiki/Lysander_Spooner)

To read the earlier E-Sylum article, see:
LYSANDER SPOONER (1808-1887) (https://www.coinbooks.org/v27/esylum_v27n33a18.html)

Paper Currency Presses
Former Bureau of Engraving and Printing Director (and American Numismatic Association Executive Director) Bob Leuver writes:

To read the earlier E-Sylum article, see:
VOCABULARY TERM: PRESSES, PART 1 (https://www.coinbooks.org/v27/esylum_v27n33a17.html)

VOCABULARY TERM: PRESSES, PART 2

Peale's Toggle Joint Press
Roger W. Budette

When Franklin Peale returned to the Philadelphia Mint from a year-long tour of European mints in May 1835, he had a set of plans for a toggle-joint press with him. These were not copies of Uhlhorn or Thonnelier presses, but were Peale's inventive spirit applied to the mechanism of the toggle-joint and the problem of efficient mechanized coinage.

Compared to Thonnelier's or Uhlhorn's presses, Peale's version makes more direct application of force and is clearly built on a more robust, compact and simplified application of the same principles. In most respects, Peale seems to have selected the best from European examples, and discarded all unnecessary complexity and ineffective motion. His coin press is simple, direct, somewhat homely in appearance, but entirely effective in operation.

The basic mechanics of the press are from the same family as Peale's blank cutting and upsetting machines. All used an eccentric to redirect rotational energy to linear force while maintaining simplicity of operation. On a broader scope, all three were components and principles used in locomotives and stationary steam engines, and these connected back to Peale's early years working with Matthias Baldwin.

Using the mental processes of a practical machinist, Peale' press design incorporated features that would make it useful to American mints. Peale's type of toggle-press had fewer moving parts and a smaller number of critical connections than presses used in Europe. It used large, easily cast iron parts; joints, including the all-important toggle-joint, were robust and easily accessible. Several large parts were made from hollow castings rather than solid metal.

The same design was used for multiple sizes of press, and the operation for all was identical. There were no thin parts or fine adjustments; even the mechanism for altering the pressure was nothing more than a wedge with screw thread and locking bolt. All these attributes made Peale's press a reliable, simple to maintain piece of equipment that could operate in the humidity of New Orleans, the cold of Philadelphia, or the isolation of Dahlonega without need for a master mechanic.

But like all equipment they required regular maintenance and replacement of defective parts. Cleaning and lubrication of key parts was needed several times a day as well as at the beginning of the work day. In later improvements, some high friction parts were equipped with automatic oilers that dripped lubricant onto mechanical joints. Internal parts could only be oiled by stopping the press and removing access plates or other parts. Excessive lubrication could also create problems, especially in planchet feeding and coin ejection mechanisms. Too much oil caused planchets to stick together, or stick to a die, or refuse to feed into the collar.

Peale continued to make improvements in the coining press for several years afterward. Their efficiency and simplicity exceeded coining presses of any other country's mints. The improved press ran at eighty-four revolutions per minute and could strike 5,000 pieces per hour or 50,000 per ten-hour work day. It required cleaning, oiling and other maintenance several times per day.

Power for coinage presses came from either a steam engine connected to belts and pulleys, or in the late nineteenth century, a steam engine connected to a generator with electricity sent to a motor on each press. However the power was produced, it was applied to the flywheel and not directly to the striking mechanism of a press. Each rotation of the flywheel represented one complete action of the press. The flywheel, which carried all of the press's kinetic energy, could be connected or disconnected from the press mechanism by moving a lever which engaged a clutch on the press.

There was very little inertia in the press mechanism so it stopped or started the moment the clutch lever was pulled. Speed of the press was controlled by rotation of the flywheel – faster rotation meant more cycles of the press per minute. Mechanically, the toggle press delivered the same force with every actuation of the device, so striking pressure was largely a matter of die area and spacing. Thus, the number of cycles per minute was not directly related to the pressure of each strike.

Medal Presses

The first struck medals were made on screw presses, but the diameter was limited, only medals smaller than 40mm could be struck with this type press. With the development of knuckle-joint presses the size was increased but limited by the pressure of the press, so larger presses were built. A 1000-ton press (pressure per square inch) could strike a medal up to six inches in diameter.

It was the development of the hydraulic press which led to greater versatility in medal striking. The action of a hydraulic press is best described as a squeeze, in contrast to the blow of a knuckle-joint press. Production of both presses must take into consideration work hardening. A knuckle-joint has greater production speeds but requires annealing more often. Hydraulic press production is slower but has greater surface movement. Both presses are in use in modern medal manufacturing.

Powering The Press

The source of power has changed in the last two hundred years. Early screw presses were powered only by man. The power of the blow could be increased by making the balance beam longer, and then by adding lead weights on the end. It was also affected by more men pushing on the beam, up to four on each end.

Horsepower was used where the horses could walk in a circle deriving the power up a capstan. This was ideal for a trip hammer press, but not effective for a screw press. Then water power was employed, with power transferred by belts. This was ideal for the Uhlhorn, Thonnelier and Peale presses because the belts could be connected to the flywheels.

But steam engines, first developed by Boulton & Watt in 1775 and used in their mint in 1788, became the major source of mint power for over ninety years for most mints. It wasn't until 1883 that electricity began replacing steam power, first at the Philadelphia Mint, then elsewhere; belting was eliminated and separate electric motors ran individual coin and medal presses.

Pressman. The operator of any press used to strike coins or medals, as a coining press or any type of medal press. A pressman reports to a pressroom foreman, who is responsible for all activity to produce the coins or medals. Operators of presses have always been called a pressman (since 1819), previously the operator of a screw press who fed blanks and ejected struck pieces manually was called a coin setter. U.S. Mints had a die setter and a press operator. The press operator did not setup the press or adjust the dies.

A pressman's greatest responsibilities with automatic presses are: (1) not to break a die, (2) to use the correct blanks for striking the order at hand, (3) to setup the press properly if not by a special die setter craftsman, (4) to insure the feed mechanism is delivering blanks to the press properly and continuously, and (5) to frequently inspect the struck items during a production run.

The pressman and die setter must have a feeling for die clearance and die alignment during setup and that the dies are seated and locked in correctly. He must know the correct gauge of blanked stock. While presses are running he must have a "sixth" sense of knowing his press is functioning properly and know just about when a die is going to break and retire it before it can jam the press. (While obtaining the maximum use from a die is an admirable goal, it is less important than that of preventing a die from breaking on the press). Also he must maintain the press or presses under his command in working order.

During inspection, a pressman must know what to look for. He must know the concept of highpoints (that the metal flow is filling every cavity in the dies by surface deformation). He must be conscious of all the points of stress in a die (he must carefully examine the areas between lettering and the rim where stress is the greatest). He must also examine the rim/edge juncture in trying to meet (but not exceed!) this point with the most metal mass of the blanks. He should check the axis on both sides of the piece that they are properly aligned. His goal is to produce perfect struck pieces at all times.

To read the complete entry on the Newman Numismatic Portal, see:
Presses and Pressroom Practice (https://nnp.wustl.edu/library/dictionarydetail/516539)

To read the earlier E-Sylum article, see:
VOCABULARY TERM: PRESSES, PART 1 (https://www.coinbooks.org/v27/esylum_v27n33a17.html)

 

DEWITT SHELDON SMITH (1840-1908)

I encourage requests to write an article about someone. When I met with David McCarthy at the ANA convention, he suggested an article on DeWitt Smith. His name variously appears as DeWitt, Dewitt or De Witt.

DeWitt Smith was born in Sandisfield, Massachusetts, on April 4. 1840. Records of his ancestry are a bit muddled. I believe some of the links in the FamilySearch site are incorrect. He was probably the son of Jared Smith (1802-1848). His mother was Caroline Julia Sheldon (1810-1845). Both parents died when he was young. He was raised by his grandmother and uncle Elizur. He attended the Deacon Alexander Hyde school and studied civil engineering.

During the Civil War, he served as a second lieutenant with Company H of the 49th Massachusetts Volunteer Infantry. He served as Captain of the company during the battle of Port Hudson.

After his military service, he returned to Lee, Massachusetts, to join his uncle, Elizur Smith and cousin Wellington Smith with the Smith Paper Company. They had five mills in the area. In 1899 he became president of the company.

He also had interests in the banking business. He was the vice president of the Lee Savings Bank and a director of the Lee National Bank. He was a director of the Berkshire Mutual Fire Insurance Company of Pittsfield. He contributed funds for the Lee marble school and the new public library,

He was married on October 10, 1865, to Jane Elizabeth Jennie Graves (1843-1918). They had five children that survived. His home on Park Street had a two-acre lot with gardens and greenhouses. His collection of orchids was the finest private collection in the country with a value estimated at $30,000. Smith employed a staff or four gardeners to tend to his flowers. He sold his orchids in 1892.

Carl Wurtzbach contributed his recollections to Hobbies Magazine for March 1941.

Smith was a life member of the American Numismatic Society. He joined the American Numismatic Association as member 178 in January 1894. He was followed by Carl Wurtzbach as member 179. In the June 1895 issue of The Numismatist, he reported that he collected United States silver and copper in uncirculated condition, U. S. $1 and $3 gold, U. S. mint marks in silver and in $1 and $3 gold; private issues of gold – California, Salt Lake City, Colorado, etc,; colonials in silver and copper. He had extensive collections of all of these.

He acquired the 1792 Washington President gold eagle from Lorin Parmelee and sold it with his collection to Virgil Brand. This was one of the highlights from the collection of Eric P. Newman, and described as Eric's favorite coin.

He died at home at Noon on June 25, 1908, and was noted as the wealthiest man in Lee. He was buried at Fairmount Cemetery in Lee, Massachusetts. In a tribute, Thomas Elder wrote. It is understood that his collection of American Colonials is unapproached by any other, while his private gold collection may be the finest known.

The New York Times carried a story in their issue of October 19, 1908.

Just four days earlier, a local newspaper, The North Adams Transcript, carried a contradictory story in their issue of October 15, 1908.

The buyer did not remain secret for long. The October/November 1908 issue of The Numismatist reported,

The Numismatist went on to repeat the story from the New York Times.

This coin is problematical if it was the same coin stolen from the Mint. Authorities have been known to confiscate stolen coins. The coin cannot be traced through the Brand collection or authenticated after 1908.

HERITAGE SEPTEMBER 2024 ERROR COIN SHOWCASE

(1817) 1C Matron Head Cent, 13 Stars, N-10, R.1 -- Mirror Reverse Brockage on Obverse -- Fine 12 NGC. The reverse is normal, but the obverse displays a first strike brockage of the reverse design. A dentil dots the I in UNITED and the NIT letters step down. Such errors happen when a coin sticks to the obverse die and then acts as a die for the next fed flan. This is a well-circulated deep chocolate-brown example, well centered on both sides.

From The L. William Libbert Collection.

To read the complete item description, see:
(1817) 1C Matron Head Cent, 13 Stars, N-10, R.1 -- Mirror Reverse Brockage on Obverse -- Fine 12 NGC. (https://coins.ha.com/itm/errors/-1817-1c-matron-head-cent-13-stars-n-10-r1-mirror-reverse-brockage-on-obverse-fine-12-ngc-the-reverse-is/a/60398-52011.s)

(1959-1982) 1C Lincoln Memorial Cent -- Crescent Clip, .86 grams -- MS62 Red and Brown PCGS.

To read the complete item description, see:
Lincoln Memorial Cent, Crescent Clip (https://coins.ha.com/itm/errors/-1959-1982-1c-lincoln-memorial-cent-crescent-clip-86-grams-ms62-red-and-brown-pcgs/a/60398-52091.s)

1962 1C Lincoln Cent -- Triple Saddle Strike -- MS63 Red PCGS.

Formerly in the Collection of Fred Weinberg.

To read the complete item description, see:
1962 Cent, Triple Saddle Strike (https://coins.ha.com/itm/errors/1962-1c-lincoln-cent-triple-saddle-strike-ms63-red-pcgs/a/60398-52114.s)

1972-D 1C Lincoln Cent -- on 40 grams Magnetic Washer -- MS64 PCGS.

From The L. William Libbert Collection.

To read the complete item description, see:
1972-D Cent, Struck on Magnetic Washer (https://coins.ha.com/itm/errors/1972-d-1c-lincoln-cent-on-40-grams-magnetic-washer-ms64-pcgs/a/60398-52162.s)

1980 1C Lincoln Cent -- Struck on 10C Double Denomination -- MS64 Red PCGS.

To read the complete item description, see:
1980 Cent, Struck Over A Dime (https://coins.ha.com/itm/errors/1980-1c-lincoln-cent-struck-on-10c-double-denomination-ms64-red-pcgs/a/60398-52179.s)

1976-D 25C Bicentennial Quarter -- Struck on Copper 1C Planchet -- MS63 PCGS.

Ex: Fred Weinberg Collection.

To read the complete item description, see:
Bicentennial Quarter, Struck on Cent Planchet (https://coins.ha.com/itm/errors/1976-d-25c-bicentennial-quarter-struck-on-copper-1c-planchet-ms63-pcgs-ex-fred-weinberg-collection/a/60398-52442.s)

1920 5C Buffalo Nickel -- Struck 35% Off Center, Cleaned -- NGC Details. UNC.

To read the complete item description, see:
1920 Nickel, Struck 35% Off Center (https://coins.ha.com/itm/errors/1920-5c-buffalo-nickel-struck-35-off-center-cleaned-ngc-details-unc/a/60398-52274.s)

1963 10C Roosevelt Dime -- 18% Ragged Clip -- AU55 PCGS.

To read the complete item description, see:
1963 Dime, Ragged Clip (https://coins.ha.com/itm/errors/1963-10c-roosevelt-dime-18-ragged-clip-au55-pcgs/a/60398-52373.s)

2019-P 10C Roosevelt Dime -- 80% Obverse Clad Layer Missing -- MS61 Full Bands PCGS.

To read the complete item description, see:
2019-P Dime, 80% Obverse Clad Layer Missing (https://coins.ha.com/itm/errors/2019-p-10c-roosevelt-dime-80-obverse-clad-layer-missing-ms61-full-bands-pcgs/a/60398-52390.s)

1967 25C Washington Quarter SMS -- 5% Triple Clipped Planchet -- SP65 PCGS.

To read the complete item description, see:
1967 SMS Quarter, 5% Triple Clipped Planchet (https://coins.ha.com/itm/errors/1967-25c-washington-quarter-sms-5-triple-clipped-planchet-sp65-pcgs/a/60398-52464.s)

KUENKER AUCTION SALES 410-411

Künker's Fall Auction Sales will feature several world-class special collections. The topics include the Thirty Years' War, lösers, Württemberg, the German Empire, the Netherlands, Russia, the U.S. and precious individual pieces from the German states and all over the world.

Künker's Fall Auction Sales will take place from Monday 23 to Saturday 28 September 2024. Every single day is bursting with numismatic highlights, as several special collectors have entrusted Künker with the sale of their treasures, allowing their pieces to re-enter the numismatic cycle. Customers will therefore encounter several world-class collections:

• Auction 410 Minted History of the Thirty Years' War and the Peace of Westphalia
• Auction 411 A Monetary History of Württemberg – The Heinz-Falk Gaiser Collection, Part 1
• Auction 412 Gold and Silver Coins from Medieval and Modern Times with the Regina Adams Collection of selected lösers, a special collection focusing on Ivan III and an important collection of U.S. gold coins
• Auction 413 German Empire with an important collection from a Mecklenburg private collector as well as imperial gold coins from the collection of an industrial entrepreneur from western Germany
• Auction 414 The Lodewijk S. Beuth Collection of Dutch Coins

Künker's total estimate for the approximately 3900 lots amounts to 10 million euros. And while we will naturally be highlighting spectacular individual pieces in this preview, no collector should miss out on the opportunity to browse the catalogs carefully. As there are many collections on offer, there are numerous lots with estimates in the two- and low three-digit range.

Künker's auctions are always a social event. So take the time to participate in the sale on site, and enjoy a nice chat with like-minded people during the breaks! Künker's customer service would be delighted to help you find an accommodation in Osnabrück.

There is really only one word to describe this collection – breathtaking. Leafing through the almost 400 pages of the catalog, admiring the countless multiple gold coins and multiple talers from the period of the Thirty Years' War simply takes your breath away. The German manufacturer and history enthusiast who put together this collection over decades did not limit himself to the German players in this war. His focus is on Europe as a whole, which is why his collection paints a dramatic picture of intra-European entanglements.

As a result, all the major and minor protagonists of the Thirty Years' War can be found on the coins: the Emperor as well as the Swedish, Danish, English and French kings; the Spanish Habsburgs as well as Italian princes. And in terms of beauty, the coins and medals of the United Provinces of the Netherlands compete with those of the German territories. Anyone looking at the material will be in awe of the numismatic splendor created at the transition from the late Renaissance to the early Baroque period.

Künker has taken great care to present this unique collection in its historical context. For this reason, numerous comments on the history of the Thirty Years' War and its historical figures can be found throughout the catalog.

Are you interested in Württemberg and its coins? In this case, you will be amazed by the Heinz-Falk Gaiser Collection. The avid collector focused on this field for decades. With much patience, expertise and enthusiasm, he succeeded in putting together a world-class collection of Württemberg issues. The first part including 153 lots will be crossing the auction block on 23 September 2024.

It contains Württemberg coins from the beginnings of the 14th century up to 1693, when Eberhard Ludwig was prematurely proclaimed of age. The coins therefore portray the old state of Württemberg, which got caught up in the conflict over Protestantism and partly came under imperial rule.

Like any truly committed specialist collector, Heinz-Falk Gaiser not only looked for rare and precious denominations, but placed equal importance on adding fractional coins to his ensemble. As a result, he was able to acquire many extremely rare denominations of the highest quality available on the market. Although many of them have estimates in the double and low triple digits, his coins are of a quality that both collectors and curators dream of.

It was only on rare occasions that Heinz-Falk Gaiser allowed himself to get carried away, as he put it. But since he collected coins for decades, these rare occasions were frequent enough to secure some of the great rarities of Württemberg numismatics. Those who are not collectors of Württemberg coinage, but are rather interested in artistic Renaissance pieces will therefore find some numismatic icons of the finest quality. After all, Heinz-Falk Gaiser paid special attention to the quality of his pieces. Therefore, even the ‘only' very fine issues are often the best specimen of the respective type that exist on the market.

To order a catalog contact Künker, Nobbenburger Straße 4a, 49076 Osnabrück; phone: +49 541 / 962020; fax: +49 541 / 9620222; or via e-mail: service@kuenker.de. You can access the auction catalogs online at www.kuenker.de. If you want to submit your bid from your computer at home, please remember to register for this service in good time.

THE LöSER COLLECTION OF REGINA ADAMS

We are very proud to present to you this brochure on a fascinating collecting field of German Numismatics: the lösers. löser is the technical term for a special sort of silver multiples issued in the 16th and 17th century. They were invented and used by the House of Welf whose different lineages reigned the duchy of Brunswick and had at their command the rich silver resources from the Harz area. Why lösers were invented and whether they were meant to pay, to present, or to collect, these are questions still under discussion. Nevertheless, a lot of new evidence has been collected within the last years. We are proud to present to you articles of two scholars who will solve this numismatic enigma for you.

In any case, do not miss the chance to see some of the most spectacular lösers having been minted in Germany here at the ANA 2024 in Rosemont, Illinois!

Let's start with an exceptional piece of utmost rarity. Only very few lösers were struck in gold. The Jakobslöser (= löser of St. James) is considered to be the most important multiple ever struck in Germany. This unique coin belongs to the most important pieces from the period of the Thirty Years' War. This coin of a weight equivalent to 20 goldgulden was produced in 1625, during the reign of Friedrich Ulrich of BrunswickWolfenbüttel. In 2015, this coin set a world record price. It sold for approximately 1.4 Mio. USD (including BP and VAT). This makes it the most expensive German coin ever sold at auction. We are happy that the owner entrusted us to bring this coin to the ANA in Rosemont. He wanted to share his joy with fellow numismatists.

Please make sure to study this special coin you might never see again in a lifetime!

But this is not the only sensation you will see at our table. We are proud to present the löser Collection of Regina Adams to you! Regina Adams is a well-known photojournalist who happens to be the lovely wife of a dear friend: the experienced numismatist and enthusiastic collector John Adams. Regina Adams was born and raised in the city of Celle, where many lösers were struck. She fell in love with this very special sort of coins in December 2000. It all happened at the Künker Booth at the New York International Numismatic Convention. She became fond of the löser at 3 taler struck in 1665 in Zellerfeld featuring the flying Saxon Steed on it. John Adams bought it then, without telling her, and presented her with it 6 month later, when she celebrated her birthday. This was the moment, Regina started to collect lösers. She has added about 30 lösers to her collection over the next two decades. Unlike other famous collectors who managed to gather larger collections of lösers (like Ed Milas, Friedrich Popken and the Preussag AG) Regina focused on Quality instead of Quantity. She has only chosen the best pieces available on the market. She took a lot of effort to win pieces which were struck with fresh dies and which show no use. You will immediately see and appreciate the quality of the Regina Adams Collection. Many of the lösers are best-of-type. We are happy to offer this special collection in our Künker Auction Sale 412 on September 24, 2024.

Do not miss the chance to view this unique ensemble here at the ANA, before it will be spread among collectors from all over the world!

For us at Künker's, it is a pleasant duty to make the best of each and every collection – in economic and in scientific terms. For economic reason, the impressive collection of lösers formed by the well-known German collector Friedrich Popken was sold in various parts. For scientific purposes, it has been recently published in a book. Please find a book review of it as part of this brochure.

If you are interested in more than the price of a coin, Künker is always the best answer.

To read the complete article, see:
German Lösers – For Those who Appreciate Multiple Taler (https://www.kuenker.de/data/mitteilungen/Kuenker_
Broschuere_Jakobsloeser_Final_LowRes.pdf)

 

GADOURY OCTOBER 25-26, 2024 SALE, PART II

On 25 and 26 October 2024, Gadoury will hold two auction sales. The second one contains numerous remarkable individual pieces. You can look forward to rarities from antiquity, China, France, Great Britain and Italy as well as a small run of US coins.

After the auction on 25 October 2024 presenting seven collections, another auction sale will be held by Éditions Victor Gadoury on 26 October 2024 featuring about 870 lots with interesting individual pieces.

Ancient Coins

The auction starts with a small series of Greek coins. Next are interesting pieces of the Roman civil war between Caesar, his successors, and the representatives of the Senate. The highlight is an extremely rare denarius from 42 BC, minted on behalf Brutus in the month prior to the Battle of Philippi.

Those interested in Roman aurei will find a rich selection of above-average quality at Gadoury's. Even if we can only present one example at this point, a closer look is definitely worth it.

Coins of the Holy Roman Empire

A small selection of about 30 lots with coins from Monaco is followed by world coins. Albania is followed by Germany – Allemagne in French – with some interesting gold coins, including a 5-fold ducat with the portrait of the Great Elector. The provenance of this piece issued in 1656 under Frederick William of Brandenburg can be traced back to 1904.

In addition, there is a small interesting series of gold coins form Nuremberg. As an example, we present a triple lamb ducat of 1703.

Two Rarities from China

Gadoury offers as many as two Chinese rarities at once. The first one is a 1912 dollar from the mint of Wuchang, depicting on the obverse the portrait of the Chinese statesman Li Yuanhong. It is the rare variety showing Li with military cap. This precious Chinese coin was graded MS65 by PCGS.

A second piece, graded MS63 by the new French grading firm GENI, depicts the portrait of Duan Qirui, Li Yuanhong's great rival, from the front. The dollar was minted in 1924 in Tientsin, today's Tianjin.

Issues from the Spanish Empire

In 1871, only 25 specimens of this rare gold coin of 100 pesetas were minted. This makes the coin a numismatic treasure. Overall, Gadoury has much on offer for all those who are interested in coins of the Hispanic world. 20 lots are from Spain; 32 lots from Mexico and 28 pieces – including numerous gold coins from the 20th century – from Peru.

France: One of Gadoury's Specialties

Collectors of French coins are well familiar with the Gadoury auction house since it is the publisher of the most important catalogues on French numismatics of the same name. So it is no surprise that Gadoury also specialises in French coins when it comes to selling coins. From the Merovingians up to 2014, from rare fractional pieces to extensive series of gold coins of the Latin Monetary Union, both royal and féodal – there is hardly a field that will not be covered by the 168 lots with French coins in Gadoury's autumn sale.

Special highlights are an undated gold medal of the chamber of commerce of Lyon with the portrait of Louis XIV, an essai for the visit of the First Consul Napoleon to the Paris mint in 1803, and an essai of 100 francs in gold by Domard from 1831, graded PROOF64 TOP POP by PCGS.

A Gold Pattern for William IV

From the same year – 1831 – is a pattern for the British 5-pound piece issued with the portrait of William IV. Only 6 to 10 specimens of this piece are known of!

Another of Gadoury's Specialties: Italy

Those who regularly study Gadoury's catalogues will know that they do not only specialise in France but also in Italy. And, in fact, once again the auction house presents a wealth of rarities from the various states of the Italian Boot.

At this point, we would like to mention the double ducat from Milan with the splendid renaissance portrait of Louis XII of France, the extremely rare gold medal by Pope Pius VIII, the just as rare zecchino by Francesco Contarini, who did not even remained Doge of Venice for three months, and the extremely rare, perfectly preserved and historically important 10-fold scudi d'oro showing Carlo Emanuele II, Duke of Savoy, with his mother Christine of France.

Of course, experts will also find a rich selection of coins from the Casa Savoia. But see for yourself!

Peter III and His Rare 10-Fold Gold Rouble

Among the 68 lots with Russian coins – including numerous gold coins from the 19th century – is one of the great rarities of Russian numismatics: the 10-fold rouble by Peter III, minted in 1762 in Saint Petersburg. Only 25,876 specimens were minted and many of them were probably melted down again. The reverse shows the coats of arms of the various territories ruled by the Tsar, not only Moscow and western Russia, but also Astrakhan, Kazan and Siberia, which offered promising new economic opportunities in the mid-18th century.

Gold Coins from the United States of America

Gold coins from the United States of America are the last large chapter in Gadoury's auction sale. 121 lots, including mostly 20-dollar pieces of the Liberty type, are waiting for new owners. All coins were graded by PCGS, are from various mints and different years and thus present an ideal opportunity for investors who want to put money into US gold objects.

Please also take a look at our first auction preview with coins from seven different collections.

You can order the catalogue at MAISON GADOURY NUMISMATIQUE, 57, rue Grimaldi, 98000 Monaco; phone: +377 93 25 12 96; fax: +377 93 50 13 39; email: contact@gadoury.com.

You can find the catalogue online at auction.gadoury.com, www.sixbid.com and www.numisbids.com. Of course, it is also possible to bid live on your computer at home via www.biddr.ch!

To read the earlier E-Sylum article, see:
GADOURY OCTOBER 25-26, 2024 SALE, PART I (https://www.coinbooks.org/v27/esylum_v27n33a23.html)

TOM KAYS' NUMISMATIC DIARY: AUGUST 25, 2024

Julian served as host for the August Nummis Nova dinner at Jerry's Seafood Restaurant (Home of the ‘Crab Bomb') in Bowie, Maryland. Pictured from the left are Mike Packard, Julian Leidman and his guest Erik Douglas, Tom Kays and Jon Radel. The fact that we met, not in Northern Virginia, but far away across the Potomac River in Maryland, reduced the number of diners in attendance but not the enthusiasm of the group.

The Crab Bomb by the way was ‘da bomb' with no filler, just a softball-sized scoop of fresh crab lightly braised in butter and served no nonsense with two sides such as Old Bay Plank Fries and Vanilla Apple Sauce. Yum!

First off, no, Julian is not retiring, but he is bringing Erik Douglas in to run in person, some of the day-to-day business of the Bonanza Coin Shop (Buyer of Rare Coins and Currency) in Silver Spring, dealing with new acquisitions, while Julian focuses on Julian Coin (his on-line store) and on deaccessions of existing stock. Erik is an IT professional, teacher of Physics, and now heir to one of the last and finest brick-and-mortar coin shops in the Washington D.C. area.

The buzz that night was all about the bestowal of Nobel Prizes in Numismatics to Nummis Nova! Jon Radel, our resident expert in Finnish Medals, journeyed to the former Stock Exchange Building in Stockholm, Sweden to pick up our medals. He distributed them to us at dinner. Here Mike's dental work determines the fineness of his gold medal the old-fashioned way.

Alfred Nobel was a Swedish chemist, inventor, and businessman who discovered how to stabilize nitroglycerin, leading to patents for Nobel's ‘dynamite,' blasting caps, and a total of 355 different patents. Not wanting to be remembered as a ‘merchant of death' due to his arms factories, one of which blew up in 1866, he bequeathed his vast fortune (31 million Swedish Crowns upon his death in 1896), to foster advances in science, literature, and peace among nations. The first prize was awarded in 1901 to Marie Curie.

They say it was Bertha von Suttner who answered an ad of Nobel's for a secretary and supervisor of household, and who worked for Nobel for two years that convinced Nobel that he must work for disarmament or his legacy would be remembered poorly. She would win the Nobel Prize in 1905. Nobel Prize medals are normally awarded in Oslo, Norway with winners having been determined by the Norwegian Parliament, but Jon discovered ours in the gift shop of the Nobel Prize Museum in Stockholm. They don't ship, so you must go there in person to get them. As new Numismatic Nobel Laureates we must not fall victim to the ‘Nobel Disease' where esteemed recipients begin to lecture on topics far beyond their expertise. Let us stick to talking about numismatics.

The beautiful book Mauritz Hallbergin Kokoelmat (The Mauritz Hallberg Collection) Volume I – Medals, passed around the table. Emil Fredrik Mauritz Hallberg was a Finnish politician. Since 1920 the Society of Swedish Literature in Finland has awarded his medals for special achievement.

Also seen at the table were this pair of French coins, each subject to ‘coin-flation' to keep up with the rising value of silver. On the left is a former Syd Martin coin, a 1555 Billion Douzain (1/12 Ecu) of Henry II re-coined in Paris, circa 1693 as a sol with ‘Eight Ls' for Louis XIIII. Many of these old Henry II host coins were stamped in 1640 with a ‘fleur-di-lis' in beaded circle for export to the Canadian French Colonies. This one was oddly revalidated for continued circulation in France after nearly 140 years. Beside it is a demi-ecu of Louis XIIII of that same eight L's design, newly re-coined in 1693 with the Palms reverse at Montpelier.

Sailing by before Crab Bombs arrived was this case with an arrangement of ‘doubloons' picturing historic ships issued according to Poseidon, Sovereign of the Seas.

As crab bombs pleasantly filled our happy stomachs and the subject of Mardi Gras doubloons started, our host Julian claims to have original die trial pieces from H. Alvin Sharpe, the very first of the Mardi Gras pieces struck. As always, this Nummis Nova dinner was a delight and well worth the terrible Beltway traffic and mystery of navigating on the far side of the Potomac for us Nummis Nova regulars.

2024 ANA NUMISMATIC LITERATURE EXHIBITS

Here are photos of the numismatic literature exhibits at this month's American Numismatic Association summer convention.

First Place: Two Significant Numismatic Entrepreneurs
Exhibitor Erv Brauer kindly forwarded these great photos of his exhibit on Waterman L. Ormsby and Laban Heath. They were taken with the cases open to avoid glare from the glass top. Thank you! Lianna Spurrier filmed Erv speaking about his exhibit for the Newman Numismatic Portal - stay tuned for the video.

Second Place: A Library of the Works of David R. Sear
Michael Shutterly created a nice exhibit of the important Sear catalogs. I took these photos in the exhibit area. Luckily there wasn't too much overhead light glare with these.

Third Place: Odyssey of a Half Cent: From Discovery Coin to My Coin.
Franklin Noel's exhibit highlighted provenance research.

THE COMO, ITALY LATE ROMAN COIN HOARD

Archaeologists are studying a valuable trove of old Roman coins found on the site of a former theater in northern Italy.

The coins, at least 300 of them, date back to the late Roman imperial era and were found in a soapstone jar unearthed in the basement of the Cressoni Theater in Como, north of Milan.

We do not yet know in detail the historical and cultural significance of the find, said Culture Minister Alberto Bonisoli in a press release. But that area is proving to be a real treasure for our archeology. A discovery that fills me with pride.

Whoever placed the jar in that place buried it in such a way that in case of danger they could go and retrieve it, said Maria Grazia Facchinetti, a numismatist – or expert in rare coins – at a Monday press conference.

Archaeologists also uncovered a golden bar inside the jar.

The coins were discovered last week, according to Ministry of Cultural Heritage and Activities, and were transferred to the Mibac restoration laboratory in Milan where archaeologists and restorers are examining them.

To read the complete article, see:
Hundreds of Roman gold coins found in basement of old theater (https://www.cnn.com/style/article/roman-gold-coins-italy-cressoni-theater-trnd/index.html)

The hoard of gold coins from the last days of the Western Roman Empire that was discovered under an old theater in Como in 2018 has proven even more exceptional than it seemed at first glance. And that's saying a lot, because from the lidded soapstone pot to the tidy stacks of mint-condition 5th century gold coins inside of it, this find was immediately recognized as one of unprecedented historical significance.

Well, the painstaking process of removing one coin at a time from its tight, tidy stacks is now complete, and the final tally of gold coins is 1,000. Exactly 1,000. Someone had to have counted this out for professional purposes, like an accountant, government administrator or imperial goldsmith. The vast majority of the coins — 639 of them — were struck by mint in Mediolanum (modern-day Milan) which was then the capital of the Western Empire. They were minted between 395 and 472 A.D. and bear representations of eight emperors and four empresses. The fall of the Western Roman Empire is traditionally dated to the deposition of Emperor Romulus Augustulus in 476 A.D., and 744 of the coins were minted after 455, so literally the last two decades of the empire.

To read the complete article, see:
Como Treasure: 1,000 gold coins in a cooking pot (https://www.thehistoryblog.com/archives/64122)

ROMAN GOLD COIN NECKLACE ON PAWN STARS

A FEW unique aspects of jewelry set with gold coins has made it worth hundreds of thousands of dollars.

The set's owner, Jeff, recently brought it in for evaluation by the Pawn Stars, who quickly discovered its jaw-dropping worth.

Jeff, an avid coin collector who'd brought in several pieces to the shop before, met with Pawn Stars' Corey Harrison in the Season 22 episode.

"I've got something that I think is pretty magnificent," he teased.

The coin collector revealed the piece in a velvet box — two necklaces from the early 1900s with 33 "ancient" gold coins.

Underneath it was even more jewelry featuring the coins.

In total Jeff's box included two necklaces, earrings, hairpins, and a single bracelet made of the gold coins.

The set was crafted by Emile Froment-Meurice, a famous french jeweler and designer from the late 1800s.

It was even shown off at the 1900 Paris World's Fair as one of Froment-Meurice's most adored jewelry.

The 33 gold coins in the set featured legendary Roman leaders like Marcus Aurelius and even Alexander the Great, former King of Macedonia.

Jeff, an expert in his own right, told Corey that the gold coins attached in the set were each worth between $5,000 to $20,000.

He'd purchased it at a charity auction a few years back, and estimated it to be worth around $250,000 today.

Corey told Jeff he was "speechless" at the sight of the set, as it was something that he'd read about before and couldn't believe he was now seeing in real life.

Still, he wasn't quite ready for hand over a quarter of a million dollars to Jeff without a second opinion from ancient coin expert David Vagi.

Vagi immediately noted that he was at the auction where Jeff bought it, and called the set "astonishing" because of two factors — that it remained intact for over 120 years, and that it featured historical figures that everyone knows.

After further evaluation, Vagi also concluded that it was worth about $250,000, just as Jeff predicted.

Corey offered $200,000, a $50,000 deduction from the evaluation, but Jeff wouldn't budge.

To read the complete article, see:
COINING IT My jewelry set has 33 gold coins attached – Pawn Stars expert says two ‘astonishing' factors make it worth $250k (https://www.the-sun.com/money/12264688/jewelry-set-gold-coins-pawn-stars-astonishing-factors/)

The ANS Annual Gala Dinner raised more than $210,000 for its research, publications and various programs. This includes $10,110 raised through its live auction, called by Melissa Karstedt of Stack's Bowers Galleries. The eleven items included coins donated by Heritage Auctions, medals, wine, books, and other items donated by ANS members and Trustees, as well as a signed copy of Early Greek Coins from the Collection of Jonathan P. Rosen donated by Jonathan Rosen.

An unexpected surprise was the auction of a spectacular intricate gold necklace and jewelry ensemble on display from the Stack Family. The ensemble is made of ancient Greek and Roman coins, crafted by the premier 19th century French goldsmith-jeweler dynasty, the family Froment-Meurice. The ensemble has been in the Stack family for many years. Mr. Lawrence Stack promised to give whatever was raised over the reserve amount of $80,000 to the Society's $4 million Campaign to Endow the Chair of the Executive Director. This ensemble was on display at the Gala with the intention of letting people know it would be available through auction at a later date. However, some guests were so enthusiastic about the pieces that they insisted on bidding on it that night. Renowned Sotheby's auctioneer David Redden, who was attending the event, volunteered on the spot to handle the bidding. As a result of his spirited, and greatly appreciated, efforts, the necklace was purchased for $120,000, with $40,000 going to support the ANS campaign.

To read the earlier E-Sylum article, see:
2018 ANS GALA DINNER (https://www.coinbooks.org/v21/esylum_v21n04a07.html)

ROMAN-ERA SILVER INGOTS

Three "truly sensational" Roman-era silver ingots depicting Constantine the Great were nearly sold illegally on the internet, a new investigation finds. An unnamed man alleged that his great-grandmother found the rare artifacts buried in the family's backyard in Transcarpathia (also known as Zakarpattia), a region in western Ukraine. Later, the man reportedly tried to sell one of the silver bars online, according to Public Uzhgorod, Ukraine's public broadcast station.

Each of the metal blocks, which are almost entirely pure silver, weighs more than 12 ounces (342 grams) and contains a coin-shaped impression of Emperor Constantine the Great on each side, according to the statement. Constantine, who ruled from A.D. 306 to 337, is known for ushering Christianity into the Roman Empire and moving his capital to "New Rome," which later became Constantinople (modern-day Istanbul).

The ingots would have been used during the minting process to strike coins known as siliquae. The coins with Constantine's likeness would have been issued between A.D. 310 and 313 in Augusta Treverorum, a Roman city that today is Trier, Germany. At one time, the pieces would have been batched together with a thin, silver ribbon, which has since been lost, according to the statement.

Experts estimate the treasure's value at 3.5 million Ukrainian hryvnia, or about $84,800.

"But what makes them unique is not the cost, but the fact that only a few similar ingots have been found in Europe to date," Andriy Kostin, Ukraine's prosecutor general, said in the statement.

There are about 90 known Roman silver ingots in existence today, with only 11 containing mint stamp impressions, making the three ingots' recovery even rarer, according to the statement.

To read the complete article, see:
Rare Roman-era silver ingots depicting Constantine the Great seized from alleged black-market sale (https://www.msn.com/en-us/news/world/rare-roman-era-silver-ingots-depicting-constantine-the-great-seized-from-alleged-black-market-sale/ar-AA1oOteE)

TALLY STICKS FOR MONEY

For millennia, simple forms of record-keeping have been used as ways to keep track of debt, to substitute for the contemporaneous conveyance of specie, or to accommodate the future settlement and netting of debts. In England, tally sticks were regularly used:

A tally is usually a stick, or a bone, or a piece of ivory — some kind of artefact — that is used to record information. Palaeolithic tallies include the Lembombo bone, found in the Lembombo Mountains in southern Africa, reported to date from around 44,000 BC; the Ishango bone, which consists of the fibula of a baboon, from the Democratic Republic of the Congo (the former Belgian Congo), thought to be 20,000 years old; and the so-called Wolf bone, discovered in Czechoslovakia during excavations at Vestonice, Moravia, in the 1930s, and estimated to be around 30,000 years old. Marked with notches and symbols, these tallies are ancient recording devices, means of data storage and communication. Not merely artefacts, they are important historical documents.

In England, from around the twelfth century, and for over 600 years, tallies became important financial instruments, a key part of public finance and an answer to a perennial problem for money-lenders, merchants and those involved in commerce and trade: how to both facilitate and record the exchange of goods, services and commodities. Reading these English tallies, understanding their history and their changing use, provides us with an understanding not only of the nature of individual financial transactions during the late medieval and early modern period, but also of the development of banking practices in England and its relationship to the English state.

Usually made of willow or hazelwood, tallies were used to record the key information of a financial exchange. The name of the parties involved, the specific trade and the date were written on each side of a stick. Notches of different sizes — which stood for pounds, shillings, and pence — were also cut on both sides. Then the stick was split in two along its length, creating a unique jagged edge; only those two pieces could ever fit perfectly together again. When someone presented one side as proof of a transaction, the parties could check for the right fit.

Tallies also enabled the functioning of the tax system in medieval England, which was a rather more complex affair. The process took months to complete. It worked roughly like this. Tax receivers collected revenues from the King's subjects at Easter. They then passed them on to the Exchequer, which completed an audit in late September or early October. At the time, the Exchequer had two branches: the Lower and the Higher. The Lower Exchequer received and disbursed the revenues. The Higher Exchequer audited the process. They used tallies to track who had paid whom. As soon as the Lower Exchequer received the revenues, the tally cutter recorded the payment on the tally and split the stick. The tax receiver — the debtor — got the longer part, called the 'stock'. The Exchequer — the creditor — kept the short end of the stick, called the 'foil'. And once a year, at Michaelmas, the Higher Exchequer audited the whole process by matching stocks and foils. The stock was the proof that the collector had not merely pocketed the tax revenues.

Over time, both the use and appearance of the tallies began to change: in the early years, tallies were 3 to 5 inches long; later, they grew to be 1 to 2 feet long, and sometimes much longer. More money meant more notches; more notches, in turn, required longer sticks. One of the last issues of tallies made by the English Exchequer was in 1729, for £50,000: the tally is a whopping 8 feet, 5 inches long, visible proof of the growth of public spending, taxation and inflation.

To be clear: unlike coins, tallies did not actually settle debt. By accepting a foil, a vendor was effectively agreeing to a delayed payment from the Exchequer; the tally was a kind of guarantee that they would get coins. For the state, meanwhile, the tally was a convenient way to borrow from its suppliers, or a form of what we would now call vendor financing — the citizens and merchants who sold goods and services for tallies were effectively financing the state, in much the same way as those who lent actual coins to the Exchequer.

Pablo adds:

To read the complete article, see:
tally sticks for money--8/13/24 (https://www.delanceyplace.com/view-archives.php?p=5108)

To read earlier E-Sylum articles, see:
FEATURED WEB SITE (https://www.coinbooks.org/esylum_v03n29a13.html)
MEDIEVAL TALLY STICKS AND HOW THEY WORKED (https://www.coinbooks.org/v20/esylum_v20n29a26.html)
THE ORIGINS OF MONEY (https://www.coinbooks.org/v27/esylum_v27n30a30.html)

GOODBYE CHECKS, HELLO INSTANT PAYMENTS

One of the first checks ever recorded was written in the 11th century, in a marketplace in Basra, in present-day Iraq. There, a merchant issued a sakk: written instructions to his bank to make a payment from his account.

A thousand years later, this form of payment is finally disappearing. Target said it would stop accepting checks as of July 15; other retailers, including Whole Foods and Old Navy, have already stopped accepting them. It's just the latest sign that the form of payment is nearing obsolescence: The average American writes just one check a year, down from 3 in 2016, according to a Federal Reserve survey.

I absolutely think that we are moving to a world of ‘check zero,' says Scott Anchin, vice president at the Independent Community Bankers of America. As we see new payment methods come to the fore, we see new opportunities for consumers and businesses to move away from check usage.

Flawed as checks are, though, they haven't gone away entirely because many people still depend on them, especially to pay rent and utility bills. But experts say a new kind of payment may finally change that.

The newest type of payment— the first to be introduced in the U.S. since the ACH network in the 1970s—is called instant payments, in which money moves from your account to another account immediately. You may think you already use instant payments with services like Venmo, but you don't—behind the scenes, the money can take some time to move, and it's not coming directly from your bank account but from a Venmo account, for instance.

Here's how instant payments work: Different types of payments—wire transfers, checks, ACH—all happen over what are called rails. A rail is essentially the system that gets your money from one place to another. Think of a pile of cash in a briefcase. You could move that briefcase from one place to another in a car, or a bus, or a train, or an airplane; those transportation methods are like the rails that move your money. Instant payments are a new kind of payment rail, but there still needs to be a user interface to allow consumers to access them. Some payments on Zelle already happen on an instant payment rail, says Bridget Hall of ACI Worldwide.

One year ago, the Federal Reserve launched FedNow, an instant payment rail that allows for people to send money to each other if they're enrolled in participating institutions. Another payment rail, RTP, short for Real Time Payments, was launched in 2017 by The Clearing House, a private payment-system infrastructure owned by large commercial banks. But it has fewer participants than FedNow, which boasts about 900 participating banks and credit unions.

Instant payments are different from anything that exists now, including wire transfers, ACH payments, and debit cards. Wire transfers can take 24 hours to reach customer accounts, and they're not available 24/7; ACH payments are processed in batches and can only happen during banking hours; debit-card purchases don't settle in accounts immediately. But instant payments happen in real-time, at any hour of any day, and don't cost anything for the sender.

Real-time payments accounted for just 1.5% of total payments in 2023, which is about 3.5 billion transactions, according to ACI Worldwide, which sells software facilitating real-time payments. Experts expect that number to grow to 14 billion real-time transactions by 2028.

Instant payments are already extremely popular in other parts of the world. In India, real-time payments were launched in 2010 and now make up 84% of the share of all electronic payments—that's 129 billion transactions. Brazil had 37 billion real-time payment transactions in 2023, and Thailand had 20 billion, according to ACI Worldwide.

To read the complete article, see:
The Personal Check Is Disappearing. Here's What Comes Next (https://time.com/7005015/check-zero-instant-payments/)

INFLATION-INDEXED BONDS IN EARLY AMERICA

Colonial America was fertile ground for monetary experimentation. Circulating as money would have been precious metal coins, and not only English coins but also others, paper money issuances from the various colonial governments, often circulating in their neighboring colonies as well, and even commodities widely accepted as money. Many colonies over-issued their paper money, including Massachusetts. The result was depreciation of the money and inflation in prices. Because of this, the government of Massachusetts was ultimately pressured to issue an inflation-linked bond, one that would protect its holder from inflation.

Precious metal coins were not the dominant form of money in the American colonies for much of the 17th and 18th centuries. Paper money, and even commodities like tobacco and beads, circulated more widely than metal coins. To fund an unsuccessful 1690 invasion of Quebec during the War of the Grand Alliance, the colony of Massachusetts issued paper money. It promised to redeem these notes at a later date but they began to circulate as money in the colony in the meantime; they could also be used in payment of debts to the state, such as tax obligations.

More notes were issued to fund the colony's expenses during the War of the Spanish Succession between 1702 and 1713. Thereafter, the government continued to issue paper money in peacetime. These included notes issued by the colonial government and notes issued by the colony's land bank in the funding of loans; in either case they were called ‘bills of credit'.

Massachusetts notes were issued in volumes that exceeded the colonial government's ability to redeem them. This was especially true after 1740, when the stock of notes in circulation per capita would grow by 5.6 times over the next decade. However, in a positive development, money was delivered from Britain to compensate the colony for its expenses borne during the War of the Austrian Succession, which ended in 1748. The money was used to redeem notes issued to finance that war. So, just after the midpoint of the century, there was a tight money supply and monetary stability.

According to the future Secretary of the Treasury, Alexander Hamilton, the money supply of the American colonies was approximately three-parts paper money to one-part precious metal specie just before the War of Independence. However, far more paper money was issued during that war. In Massachusetts, this began with a rather modest issuance of 26,000 Massachusetts pounds in May 1775; hundreds of thousands pounds more would soon follow.

Inflation-Linked Notes

Soldiers complained regularly about the lack of pay and, when they were paid, the depreciation of the money they were paid in. In January 1779, four battalions from Massachusetts petitioned for relief claiming that by the effect of depreciation they were losing seven-eighths of their pay. The next month, the government agreed to right this wrong, but only after the war ended. Being an unsatisfactory response, worries existed that if the issue were not addressed, soldiers would decline to renew their enlistments. Some were already taking second jobs in between the fighting.

Soldiers' mutinies occurred in the colonies during the late years of the War of Independence. Thus, an accelerated resolution was called for. Massachusetts established a committee in November 1779 to address the issue of soldier pay. The solution devised was a new instrument that would be linked to the price of various goods and legislation was passed in January 1780 to issue these new notes. Massachusetts issued a rather new kind of obligation, an inflation-linked note, that year. They were used to pay the soldiers and were known as ‘depreciation notes' or ‘soldiers depreciation notes'. They accrued interest at 6% per year and were more akin to a bond than a banknote; as such, they did not circulate as money.

This was arguably the first inflation-linked bond, at least insofar as it was linked to a well-defined price index, rather than a single commodity. Each note was indexed to the price of five bushels of corn, sixty-eight and four-sevenths pounds of beef, ten pounds of wool, and sixteen pounds of leather. The seemingly strange proportion of these commodities was set so that each was equally weighted according to their value in the index. From then on, a committee comprised of men from a few different counties of Massachusetts would track prices and report these to the state.

Taken together, this basket of commodities was worth about one hundred and thirty Massachusetts pounds as of January 1, 1780, or just over thirty-two times more than they would have cost under the price-fixing law from three years earlier. The price of each of the four components of the index was about one Massachusetts pound back in 1777 revealing just how much the local pound had lost value. The inflation-linked notes were issued with maturity dates ranging from 1781 to 1788; those soldiers who committed to serve through the end of the war received the notes maturing sooner, between 1781 and 1784. Those who declined received the later-dated notes.

Roger adds:

To read the complete article, see:
Massachusetts, Money, and Inflation-Linked Notes (https://tontinecoffeehouse.com/2024/08/19/massachusetts-money-and-inflation-linked-notes/)

To read the earlier E-Sylum article, see:
THURSDAY LUNCH CLUB REPORT JULY, 2023 (https://www.coinbooks.org/v26/esylum_v26n32a28.html)

19TH CENTURY U.S. PRIVATE GOLD MINTS

There were three distinct regional gold rushes with private mints: the southern Appalachians, 1830-51, California between 1849-54, and Colorado during 1860-62.

A visitor to the Bechtler mint in North Carolina in 1827 described how ‘country people' brought in ‘rough gold' that the mintmaster weighed and recorded in his book, while ‘to others he delivered the coin he had struck', net of fees, from the gold that they had previously brought. The mint's operations were like ‘those at a country grist mill, where the miller deducts the toll for the grist he has manufactured'. A mint's revenue likewise consisted of fees deducted from the metal it ‘fluxed' (cleaned), assayed to determine fineness, and stamped into coins. The Bechtler mint charged 2.5 percent for assaying and coining. Thus, a miner who brought sufficient gold dust to make $102.50 would receive $100 in new coins.

A private gold mint accordingly did not need to produce substandard coins to make a profit. Deliberately issuing substandard coins would earn a greater profit per coin, as theoretical sceptics noted, but only until the ruse was discovered. Evidence from contemporary newspapers and numismatic historians indicates that while fraud and incompetence by some private mints was initially a problem, the publication of independent assay results in local newspapers meant honesty eventually dominated as a profit-maximization strategy.

Templeton Reid of Georgia opened the first private gold mint in the United States. Reid over-estimated the purity of his gold, produced coins soon found to contain too little gold, and shut down within three months. The Bechtler mint, by contrast, gained a reputation for competence and honesty that kept it in business for twenty years, between 1831 and 1851. It produced more than $3 million in gold coins, in denominations of $1, $2.5, and $5; these coins were also marked also with weight in grains and fineness in carats, until the local mines began to play out.

In California, private mints produced an estimated $36 million of gold coins between 1849 and 1854. Four of the six prominent private mints established in 1849 produced substandard coins. Once newspapers reported assay results, merchants refused or heavily discounted the underweight coins, forcing their holders to have them melted and recoined elsewhere. Bad mints did not survive into 1850, unlike the two good mints (Moffat & Co., which likely outproduced all the others combined, and the Oregon Exchange Company). Of the five major private mints established in 1850, and later, only one (Baldwin & Co.) produced underweight coins and quickly exited. The other four were competent and honest, and three of them minted large quantities — Dubosq & Co., Wass, Molitor, & Co., and Kellogg & Co.

In Colorado, Clark, Gruber & Co., minted about $3 million of coins dated 1860 and 1861. Their coins were quite popular because they were known to contain a quantity of gold slightly above the US Mint's standard.

To read the complete article, see:
How private gold mints in 19th century America overcame the market-failure problems imagined by some economists (https://ehs.org.uk/how-private-gold-mints-in-19th-century-america-overcame-the-market-failure-problems-imagined-by-some-economists/)

HOW KING CHARLES HELPED CRAFT HIS COINS

For many, the death of Elizabeth II almost two years ago was a moment for sombre reflection. For the 1,000 or so staff at the Royal Mint in the Ely Valley near Cardiff, it was also a call to action.

It was very emotional for us, says Paul Morgan, the head of coin design, when we meet at the Royal Mint production facility and visitor centre on Thursday. Everything we produced here had Her Majesty's effigy on it. But the next morning, I remember looking in the mirror and being hit by the realisation. We've got a job to do. And we've got to do it well.

Almost two years on, the results of his labour are glinting before us in a back office at the south Wales site — which combines the dark grandeur of JRR Tolkien's Mordor with a certain keep-calm-and-carry-on cheer.

This is the full set of Carolean definitives: eight shiny new coins to define the reign of Charles III: from the humble penny to the mighty £2. Small sets of commemorative coins were issued for the coronation and then His Majesty's 75th birthday, but this is the first official set for general circulation.

As we speak, three million pound coins, bearing a new bee design, are jangling their way through post offices and banks and then, if you're lucky, into your change. The 50p entered circulation last year but everyone agrees, the pound is a landmark moment. The pound is the iconic coin, says Gordon Summers, the chief engraver. In my lifetime, we've only ever had one monarch in circulation. So the fact we've got the King's coinage in circulation is pretty important. It's a whole new era, really.

Each new coin has the effigy of the King on the obverse (the technical term for the heads side). The image was modelled in plaster by the sculptor Martin Jennings, 3D-scanned and then inverted into the master tools used to make the steel dies that strike each coin. Charles is looking left. His mother looked right. Monarchs traditionally alternate left and right with the exception of Edward VIII who didn't like his right side. But none of his coins made it into circulation after his abdication.

On the reverse of the coin (tails) is a conservation theme — a representation of the interior of Charles's head, you might say. Each piece displays a distinctive British animal or plant: a hazel dormouse on the 1p, a red squirrel on the 2p, an oak leaf on the 5p, a capercaillie grouse on the 10p, a puffin on the 20p, a leaping Atlantic salmon on the 50p, two bees on the £1 and a combined rose, daffodil, thistle and shamrock motif on the £2. The conservation theme replaces the fragmented shield design seen on Elizabeth II's last set of definitives in 2008.

There's a motif of three interlocking Cs (take that, Coco Chanel), inspired by Charles II, who had a double-C design on his coinage. The Cs stand for crown, community and conservation, the unifying themes of Charles's coronation speech.

The King was heavily involved in the design, Summers recalls. The Cs were originally facing down. Charles felt that the C at the bottom looked like an upside-down horseshoe and looked a bit unlucky. The Cs were duly flipped. That's the level of detail he looked at, says Summers.

To read the complete article, see:
Birds, bees and Cs: how King Charles helped to craft his new coins (https://www.thetimes.com/uk/society/article/birds-bees-and-cs-how-king-charles-helped-to-craft-his-new-coins-bxbtn3km5)

KING CHARLES BANKNOTES CHARITY AUCTION

A special auction of some of the first banknotes to roll off the presses bearing King Charles III's face have raised more than £900,000 for charity, more than 11 times their monetary value.

Over the summer, Spink & Sons held four specialist auctions of the new £5, £10, £20 and £50 notes, with the proceeds destined for 10 selected charities.

Collectors are keen to grab the latest banknotes with the lowest possible serial numbers, with the prices paid reflecting interest in the notes that went into circulation in June.

A single £10 note with the serial number HBO1 00002 sold for £17,000, while a £50 sheet sold for £26,000 and broke the record for the highest lot sold in a Bank of England auction.

They were among the earliest notes featuring King Charles's face that were released with low serial numbers. Ahead of the notes going into circulation, King Charles was presented with a set featuring 00001 serial numbers.

The King Charles banknotes mark the first time the Bank of England has changed a monarch on its notes. The late Queen Elizabeth II was the first monarch to appear on banknotes, beginning with £1 notes in 1960.

People queued outside the Bank in the early hours on the launch day in June eager to grab the new notes. By midday, listings of authentic King Charles banknotes started appearing on eBay, for double or in some cases triple their value.

To read the complete article, see:
Auction of first King Charles banknotes raises nearly £1m for charity (https://www.theguardian.com/business/article/2024/aug/13/auction-first-king-charles-banknotes-raises-1m-pounds-charity)

ADVENTURES IN COLLECTING DOUBLOONS

Folks lining parade routes in the Crescent City of New Orleans often call out Throw me something mister to the marchers and float riders in the Mardi Gras parade on ‘Fat Tuesday,' the last day before Lent, when pious folks may give up luxuries (such as foods with meat and sugar) until Easter. As they celebrate, they seek ‘Carnival throws' of doubloons, strings of beads, medallions, and even larger prizes like plastic cups, and carved Zulu coconuts that are carefully handed down. The Mardi Gras ‘doubloon' was introduced by H. Alvin Sharpe and became a popular ‘throw' by Rex (King of Carnival) in the 1960s. These are big coins, the size of pieces-of-eight of old. Hundreds of ‘Krewes,' private Louisiana and Mississippi social clubs, and Carnival sponsors issue doubloons with mystical designs and group heraldry on one side, and the annual theme of the float, parade marcher's costumes, or group's message on the other. Some groups issue multiple designs each year for officers, attendants, and the general public. Aluminum tokens of the same design may be anodized into many rainbow colors. Many have two dates, one for when the group formed, and another for what year Carnival was this design issued.

Besides colorful aluminum doubloons some may be made with dual color aluminum, bronze, nickel, pewter, wood, cloisonné, and silver. A few special, one-ounce, fine silver tokens may be awarded or sold to the groups officers for their dedication to making Carnival memorable each year. These are never thrown.

Some doubloons have damage from hitting the street, getting strategically stepped on, and carefully pried up from under foot by observant parade goers, fighting for them among the crowd. Yet, perfect and proof-like examples caught by hand can also be found. It is difficult to estimate how many of the older tokens exist as local doubloon collections and collector interest were swept away in Hurricane Katrina. One of the larger krewes ‘Bacchus' issued a special series of red ‘celebrity tokens' for the many Grand Marshals each year since 1970. The Gladiators issued a gold series with football stars from each Superbowl. The Elks issued a series with landmarks of New Orleans. Poseidon issued a series of historic ships.

In general, aluminum doubloons don't go for much. They can be purchased by the pound, or in economic lots of five hundred, or a thousand from Louisiana merchants. Buying smaller lots from different merchants helps insure a wide mix. The Crescent City Doubloon Traders Club is a non-profit club that promotes the collecting of Mardi Gras tokens by sponsoring about eight doubloon swap meets each year in and around New Orleans, Gretna, Metairie, and Terrytown. They publish a newsletter and have updated annual price guides for the past twenty-five years. Annual dues are just $10.00.

I conducted an informal survey by purchasing from three different, on-line vendors, buying a total of two thousand doubloons to see what an exciting or boring mix might be sent. I am happy to say that in these lots I discovered a very wide variety of doubloons from the 1960s to 2024, from an astonishing number of issuers, some having dozens of designs over the years.

I'll list the different issuers to give you a sense of how broad a collection can be easily acquired today. I found doubloons from Alla's Golden Gryphon Society, American Carnival Association, Anheuser-Busch (Clydesdales), Argus of Jefferson Parish, Atlas, Baccus, Bal Masque, Centurions, Cleopatra, Cloud Nyne, Comus (Golden Cup), Daughters of Eve, Delachase Carnival Club, Elenians, Elks – Orleanians, Elks Krewe of Gretna, Elks Krewe of Jeffersonians, Elks Krewe of New Orleans (Lodge 30), Endymion (Token of Youth), Farhad Grotto – Motorcycles, Golden Rule Carnival Club (Jefferson Parish), ‘assorted' Grand Marshals, Hermes – Olympus, Hestia, Hestia/Mecca (Dinar), Irish Channel Corner Club, Italian American Marching Club, Jefferson City Buzzards, Jefferson Indians, Jefferson Marine Towing (Harvey, LA), Jefferson Parrish, Jerusalem Temple (Houma) – Scooters, Jerusalem Temple Clown Unit, Jet Set Carnival Club (Metairie), Jolly Funsters Carnival Club, Jolly Rogers Carnival Club, Jugs Social Club (King Nomtoc), Juno, Kings Club (SUNEV), Knights of Alla, Knights of Babylon, Knights of Chaos, Knights of Columbus (K of C), Knights of Jason, Knights of King Arthur, Knights of Momus, Krewe of Adonis, Krewe of Alpheus, Krewe of Alpheus Swanola Club, Krewe of Amle, Krewe of Amor, Krewe of Aquila (Metairie), Krewe of Arabi (Louisiana), Krewe of Caesar, Krewe of Carrollton, Krewe of Christopher, Krewe of Chronos, Krewe of Cleophas, Krewe of Crescent City, Krewe of Diana, Krewe of Freret, Krewe of Ghana (Thibodaux), Krewe of Grela, Krewe of Helios, Krewe of Hercules, Krewe of Hesper, Krewe of Houma, LA, Krewe of Icarus, Krewe of Iris, Krewe of Isis, Krewe of Jefferson, Krewe of Jupiter, Krewe of Mardi Gras, Krewe of Mid-City New Orleans, Krewe of Mokana, Krewe of Naiads, Krewe of Nereids (Waveland, Mississippi), Krewe of Pandora, Krewe of Pegasus, Krewe of Pontchartrain, Krewe of Rex (King of Carnival), Krewe of Rhea, Krewe of Rosethorne (Crown Point), Krewe of Sparta, Krewe of Sprites, Krewe of Terreanians (Houma), Krewe of Thalia, Krewe of Thoth, Krewe of Tucks, Krewe of Venus, Krewe of Zeus, La Societe Francaise de la Louisiane, Le Krewe de Etat, Little Wrecks Carnival Club, Loveland Carnival Social Club (Metairie), Lyon's Carnival Club, M K Druids, MacDonalds, Marrero Carnival Club, Mecca – Dinar, Merry Maskers Carnival Club, Metairie (Discount Doubloon), Minerva, Nefertari, Neophermenos, New Orleans Carnival Club, New Orleans Fabulous, Octavia, Okeanos, Old Reliable Pleasure Club (Chief Choctaw), Pan (St Bernard Parish), Pete Fountain's Half/Fast Walking Club, Poseidon, Proteus, Saint Bernard Sheriff's Posse, Saint Bernard Truck Parade, Saint Patrick, Schlitz (Beer), Selena, Shalimar, Shangri-La (MKS), Stardusters Drum & Bugle Corps, Strange and Wonderful Carnival Club, Ten Plus Club, Terrace Corner Marching Club, The Gladiators, The Lamplighter Club, Thor, Tri-Parrish Carnival Club, Triton (Bay - Waveland Mississippi), Turnbull's Social Carnival Club, U. S. Army (Uncle Sam), United States Coast Guard, Wannano - State Representative, and the West Jefferson Mardi Gras.

I want to know more about these mysterious Carnival groups as many have adopted amazing club designs, akin to the best iconography on ancient coins. So now I've started a somewhat reluctant collection, but I must say it is joyful to go through big bags of doubloons seeking out all the mysterious issuers, varieties, colors, shapes, and specials without knowing what in the world may come next. Frankly this may give you as much fun as going through heaps of pocket change looking for and finding semi-key wheat cents as a child. If you want to try a new numismatic adventure, make a deal with a New Orleans Mardi Gras doubloon purveyor. I'm boxing up my duplicates and will pass them on in treasure chests for kids to dig up or win as prizes, and to wonder about just how rich they just became, holding fistfuls of big shiny doubloons. Let that magic happen.

UNION SOLDIERS AWARDED MEDAL OF HONOR

Two Union soldiers who 162 years ago took part in one of America's first special operations were posthumously awarded the Medal of Honor on Wednesday.

"Today we right that wrong. Today they finally receive the recognition they deserve," President Joe Biden said at a White House ceremony.

Descendants of Pvt. George Wilson and Pvt. Shadrach had received a long-awaited call from the White House telling them the Civil War heroes would be awarded the nation's highest military honor for "gallantry and intrepidity" in defense of the Union.

The Union soldiers -- acting as spies in civilian clothing -- managed to penetrate 200 miles into Confederate territory, where they commandeered a train -- "The General" -- and drove it 87 miles from Georgia to Tennessee.

In what became known as "The Great Locomotive Chase," on April 12, 1862, the Union raiders destroyed Confederate railroad tracks and telegraph lines -- earned 19 of the men Medals of Honor, becoming the first group of Army soldiers to receive it.

The ambitious plot, despite wreaking havoc, failed. The soldiers were captured. Some escaped and received their medals after the war, while a group of eight of the raiders -- including Wilson and Shadrach -- were tried and hanged by the Confederacy.

Because of what historians attribute to an oversight, Wilson and Shadrach never received the award posthumously.

To read the complete article, see:
Biden awards Medal of Honor to Civil War heroes, 162 years later (https://abcnews.go.com/Politics/biden-award-medal-honor-civil-war-heroes-162/story?id=111621246)

LOOSE CHANGE: AUGUST 25, 2024

Gift Card Scams

In gift card fraud, everybody but the victim makes money: fraudsters, gift card companies and retailers. The criminals exploit a rapidly evolving payments industry that's shrouded in secrecy, designed to ensure easy transactions and lacking in consumer protections.

The technology companies that provide the infrastructure that enables the gift card economy are privately held and release little information publicly. They facilitate payments behind the scenes, out of the view of consumers who see only the brand name of the card and the drugstore or supermarket where they buy it. While retailers who sell gift cards could do more to thwart fraud, the secretive technology companies that set up and manage gift cards are best positioned to stop rampant criminality, but they don't. There's no legal requirement to do so, and they make money off the crime.

When consumers put money on a compromised card, the criminals are alerted because they are monitoring the barcodes using automated online account balance inquiries. They can repeatedly check the balances on thousands of barcodes at a time. As soon as money hits a card, the criminals use the account number to purchase items online or in stores, using runners or mules to physically go into stores.

To read the complete article, see:
Gift card scams generate billions for fraudsters and industry as regulators fail to protect consumers - and how one 83-year-old fell into the ‘fear bubble' (https://theconversation.com/gift-card-scams-generate-billions-for-fraudsters-and-industry-as-regulators-fail-to-protect-consumers-and-how-one-83-year-old-fell-into-the-fear-bubble-236439/)

Massive Diamond Found in Botswana

Paul writes:

The largest diamond found in more than a century has been unearthed at a mine in Botswana, and the country's president showed off the fist-sized stone to the world at a viewing ceremony Thursday.

The Botswana government says the huge 2,492-carat diamond is the second-biggest ever discovered in a mine. It's the biggest diamond found since 1905.

The as-yet-unnamed diamond was presented to the world at the office of Botswana President Mokgweetsi Masisi.

Officials said it was too early to value the stone or decide how it would be sold. Another smaller diamond from the same mine in Botswana was sold for $63 million in 2016, a record for a rough gem.

This is history in the making, said Naseem Lahri, Botswana managing director for Lucara Diamond Corp., the Canadian mining company that found the diamond. I am very proud. It is a product of Botswana.

To read the complete article, see:
The biggest diamond in over a century is found in Botswana — a whopping 2,492 carats (https://www.yahoo.com/news/botswana-says-huge-2-492-091905191.html)