About UsThe 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 SubscriptionsThose wishing to become new E-Sylum subscribers (or wishing to Unsubscribe) can go to the following web page link MembershipThere 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 AsylumFor Asylum mailing address changes and other membership questions, contact Jeff at this email address: treasurer@coinbooks.org SubmissionsTo submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com BUY THE BOOK BEFORE THE COINSale Calendar
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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.
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 two new books, research questions, updates from the Newman Numismatic Portal, the American Numismatic Society, notes from readers, and more.
Other topics this week include coal scrip, Hard Times Tokens, the World Coin Peace Program, Ken Bressett, Dr. Lawrence Lee, auction previews, two numismatic diary installments, phantom ceramic coins, and safe deposit boxes.
To learn more about picking strawberries, string beans, and tomatoes, chopmarks, F. M. Rose, California National Bank Notes, Syd Martin, Richard August, The Gold Frog, the International Primitive Money Society, die trials, Teddy Thrush and Jack Boozer, Milestone Coins, auction previews, the opening of the Suez Canal medal, error coins, slave hire badges, and Finland's setelinleikkaus, read on. Have a great week, everyone!
Wayne Homren
Editor, The E-Sylum
Mary Sears of the Maryland Token and Medal Society passed along information about a new book about the Polish packers in Baltimore. Many of these businesses issued tokens for their workers. Mary also provided the picker token images. Thank you. -Editor
Picking, Packing, & Shucking: The Migrant Experience of Baltimore's Polish Community. Thomas L. Hollowak, 412 pages, illustrated, paper. $30.00 [ISBN 978-1-887124-32-4]
Picking, Packing, & Shucking tells the story of Baltimore's Poles, who, during the spring and summer, worked on farms in Maryland, Delaware, and Pennsylvania, picking strawberries, string beans, and tomatoes. When the season ended, they returned to Baltimore, where they worked in the numerous packinghouses. Beginning in 1890, many traveled South, shucking oysters in the canneries often established by Baltimore packinghouse owners.
While newspaper articles, government records and reports off some insights into the lives of those who toiled on farms, in packinghouse, and canneries, they are often contradictory, fragmented, and disparaging. This book, however, aims to rectify this by bringing together the various components of the migrant existence and allowing their voices to be heard. Thus taking these various strands to weave a tapestry of Baltimore's Polish immigrants and their families migratory experience.
The work is supplemented by photographs at work and relaxing when their days work ceased. Provided by family members and Progressive photographer Lewis W. Hine in his efforts to document child labor. These provide an added dimension to their story.
Historyk Press
7 Dendron Court
Baltimore, MD 21234
For more information, or to order, see:
HP 120. Picking, Packing, & Shucking: The Migrant Experience of Baltimore's Polish Community.
(http://historykpress.com/migrant.htm)
Token and Medal Society Librarian Peter Irion mentioned this new book in his 'From the Bookshelf' column in the November-December 2024 issue of The TAMS Journal. Thanks! -Editor
SCRIP: How the Coal Companies Impoverished Harlan County
by Charles Edward Thomas
Photographs of 800 different pieces of coal scrip, all from Harlan County, Kentucky. In 1910, the L&N pushed its railroad into remote Harlan County, Kentucky, opening up access to billions of tons of coal, the fuel that ran everything during the Industrial Revolution. Coal did it Street lights from coal gas, coke for the steel mills, power for the new national electrical grid. The country's richest men and largest corporation rushed in-Ford Motor Company, U. S. Steel, Chicago Edison, International Harvester, Peabody Energy, the Mellons, the Carnegies, the Delanos, bringing with them a system they had Scrip.
What if you didn't have to pay the workers? Not really, not in cash? What if you could make your own currency and make it worth whatever you wanted to? Scrip was a system designed to pay workers in pinto beans and corn meal from the company store, and make billions in profits for the coal companies. "SCRIP" exposes how wage theft worked and left the coal counties impoverished.
Publisher : County Line Books (January 1, 2024)
Board book : 284 pages
ISBN-13 : 979-8990544802
For more information, or to order, see:
SCRIP: How the Coal Companies Impoverished Harlan County
(https://www.amazon.com/SCRIP-Companies-Impoverished-Harlan-County/dp/B0DDM3MCR7/)
To learn more about the Token and Medal Society, see:
https://www.tokenandmedal.org/
Taylor Leverage submitted these notes on his current research project with a call for reader assistance. Can anyone help? -Editor
Chopmark Research: Seeking Journal of East Asian Numismatics, Vol. 2, No. 1 (Jan./Feb. 1995)
By: Taylor Leverage
Given the historically small collector base, most collections of chopmarked coins have been sold relatively quietly and without fanfare. There are exceptions - the Hal Walls Collection of World Trade Coins received a full catalog from Paul J. Bosco when it was sold in August 1997, and included an exceptional selection of chopmarked coins, such as the finest known 1878-CC Trade Dollar, a rare 1859-S Seated Dollar (one of an estimated five examples), and comprehensive sets of Mexican Pillar and Bust Eight Reales by date. However, the Walls Collection was an exception to the rule, and even that only provided plates for a select few pieces; collectors looking to trace the provenance of chopmarked coins today are often left trying to sift through scattered auction catalogs hoping for the odd reference here and there, such as the 1805-NG Guatemala Eight Reales shown here, which was plated as Lot 264 in Freeman Craig & Co. Mail Bid Auction 12 (November 14, 1984).
Soon after the publication of my reference on chopmarks in 2023 (By Weight, Not By Coyne: An Introduction to Chopmarked Coins), I turned my attention to preparing catalogs that could help collectors overcome the lack of provenance information available in the chopmark space, in collaboration with collector and numismatic photographer Dan Huntsinger. The first subject of this effort was Ed Murphy, today still an active and passionate collector, whose type collection extends to more than 500 pieces; this set was invaluable in acquiring reference images for my first book, and it was only logical to publish his full collection in a collected work. In 2024, a second reference took shape as the collecting space recognized that many pieces entering the market could be tied back to the collection of J.D. Bowman; while the collection had to be pieced back together through inventory lists published decades prior in The Chopmark News, many rare types were recorded that would otherwise have lost their connection to Bowman as they presumably pass from hand to hand.
The intended third subject for the 'catalog treatment' is the most well-known chopmark collection of all - that of F. M. Rose. Rose's set extended to more than 3,000 pieces per Michael Chou, who acquired and retailed the coins from Rose's estate, an effort that took many years and spread across multiple venues (mail bid sales, traditional auctions, early eBay listings, and show appearances, for instance). As a result, few pieces can be definitively traced to Rose's collection today with absolute certainty, apart from the ~175 coins plated in Chopmarks, Rose's seminal 1987 reference; these 'Rose Plate Coins' are highly coveted in the chopmark space today, but even so, the whereabouts of many remain unknown to the collecting community, including an 1892 Korea Five Yang, an 1809 Spain 20 Reales of Joseph Bonaparte, and an 1894 Guatemala Peso C/S on an 1877-So Chile Condor Peso, among many others. The 1896-Mo Mexico Eight Reales, displaying both commercial chopmarks and a large, red paper 'wedding chop' in the form of a double-happiness character, is one such Rose Plate Coin, identified as Fig. 15 in Chopmarks.
While the sheer scale of the Rose Collection and the means by which the coins were sold assures that the full set can never be fully documented, there are several resources available to assist in the research - in addition to the plates included in Rose's Chopmarks, recent research has uncovered a comprehensive 1973 inventory of the Col. Robert F. Kriz Collection of chopmarked coins, which was acquired by Rose c. 1980 and was the apparent source of many key rarities (the unique Hawaiian Dala and a choice 1799 US Bust Dollar, for instance). While no images are included, this inventory includes several hundred coins as well as descriptions of their chopmarks, and will be a key resource going forward. Additionally, the Journal of East Asian Numismatics featured a substantial selection of Rose coins in its first Mail Bid Sale (October 1994), which is believed to have been featured in J.E.A.N. Vol. 2, No. 1 (Jan./Feb. 1995). While this publication still exists and provides many of its more recent issues free of charge, these earlier printings are difficult to come by. If any E-Sylum reader has a copy of this particular issue that they are willing to sell or lend for the purposes of research, please reach out to me at chopmarkedtrades@gmail.com.
Additionally, little personal information is known about either Rose or Kriz, both of whom are significant figures in the chopmark collecting space. If any readers have information about them (specific details or personal anecdotes) or about the whereabouts of coins in their collection(s), please reach out so that information can be recorded in the upcoming catalog. Any images of previously 'lost' Rose Plate Coins or pieces that can be traced to the Kriz Collection (which frequently include his distinctive labels, as shown below) would be a significant find for the chopmark community.
Wonderful project - can anyone help? -Editor
To read the earlier E-Sylum articles, see:
NEW BOOK: BY WEIGHT, NOT BY COYNE
(https://www.coinbooks.org/v26/esylum_v26n24a03.html)
NEW BOOK: ED MURPHY COLLECTION OF CHOPMARKED COINS
(https://www.coinbooks.org/v27/esylum_v27n43a06.html)
NEW BOOK: J.D. BOWMAN COLLECTION OF CHOPMARKED COINS
(https://www.coinbooks.org/v27/esylum_v27n43a05.html)
James Contursi submitted this request for assistance with his research on some rare Taiwan tokens. Can anyone help? -Editor
E-Sylum readership has demonstrated time and again that its expertise extends into nearly every possible numismatic niche. Therefore, I hope I may be able to draw from the well of its collected wisdom. The tokens: RECREATIVE TOKEN / JEL // ???? / ??. One copper, the other nickel, both 20mm.
The tokens pictured are among the most coveted in Taiwan. Of course, they are rare, but part of their desirability rests on the nearly ubiquitous common belief that they were struck at the Central Mint of China (CMC, Taiwan)—I hasten to add, without any supporting documentation.
The late Yuan Ming-teh, dean and author of Taiwan tokens (sic), devoted a full-page to this issue. After stating what he knew, including an auction record, he concluded that he himself was not convinced of a CMC manufacture.
Earlier this year, I contacted the CMC. I drew a polite, but emphatic response from Mr. Wu, a CMC engineer in their Planning Division: these tokens were not CMC products. He did, however, suggest that I contact Ministry of National Defense, R.O.C., which, at the time of presumed token issuance, managed the Joint Foreign Affairs Office (?????). To date, my several attempts to contact the JFAO have gone unanswered.
Therefore, I am appealing to your readers. If anyone has any knowledge of these tokens, possibly a veteran who served on Taiwan in the 1950s or 60s, I would appreciate any assistance in answering some specific questions: 1) where and by whom were these tokens struck; 2) who was the intended target user; 3) where and how were they used; and 4) what is the meaning of JEL?
Author Dennis Hengeveld of Stack's Bowers published a blog post about his new book, Paper Dreams in the Golden State. -Editor
In the last few weeks, you may have seen the announcement and press release for the publication of my new book Paper Dreams in the Golden State: A History of California Through Its Paper Money, published by Stack's Bowers Galleries. This volume, my first full length book, dives into the history of California using notes from the collection of Eric Agnew (which will continue to be sold in 2025 by Stack's Bowers Galleries), along with hundreds of other illustrations, ranging from contemporary postcards, to newspaper articles and even mugshots. This blog post allows me to discuss the book a little bit more and explain why it is not just for collectors of paper money, but also for anyone who is interested in the history of California.
Even though I am a relatively recent transplant to California (having moved to Sacramento in early 2011 from Europe) I have long had an interest in California history. From the Native Americans who first called this land home to the earliest European explorers and all the way to modern times, California's history is full of stories. In this book, I have tried to capture some of those stories and link them to paper money. Paper money was virtually non-existent in the state for the first few decades after the gold rush, thanks to the distrust of the medium many of its early citizens had along with the abundant supply of gold in the state. After the federal government introduced national gold bank notes (which were, uniquely, redeemable for gold) the people of California started to accept paper money in everyday commerce. Over the next six decades over 400 national banks were formed, in communities that range from big cities to small towns. Except for one chapter those national banks are the basis for this book.
As I write in the introduction, this is not a book meant to replace any of the standard references that numismatists are familiar with. Instead, one could even argue that while paper money collectors will certainly enjoy reading the book, the true audience is everyday people interested in local history. These include people who may have grown up in towns like Hardwick, Arcata or Calexico, unaware of there ever having been a national bank in their hometown. Over the past few years I have learned that many people aren't aware of the national banking system, and when explained, they are stunned to discover that in many cases their hometown once issued "its own money." This book aims to capture some of the stories of those towns, going back to when the bank was usually located in the grandest building in town.
The stories in this book are varied, and include topics such as crime, bank robberies and disasters, but also more mundane topics like the introduction of citrus to California and the importance of railroads to the state's development. Using the notes to link it all together, those ties include the man instrumental in the building of the transcontinental railroad, another who was the subject of one of the few duels ever held in California, and one of the first female bank presidents in the country. It goes without saying that there is something for everyone in this book. I hope that this book serves as a template for people interested in the history of other states to create something similar, as paper money is a great way to connect to the past.
Paper Dreams: A History of California Through Its Paper Money is now available on Amazon and eBay, as well as at select upcoming coin shows.
To read the complete article, see:
Paper Dreams: An Author's Perspective
(https://stacksbowers.com/paper-dreams-an-authors-perspective/)
To read the earlier E-Sylum article, see:
NEW BOOK: PAPER DREAMS
(https://www.coinbooks.org/v27/esylum_v27n45a03.html)
Newman Numismatic Portal Project Coordinator Len Augsburger provided the following report on the rare Low-54A "AM I NOT A MAN AND A BROTHER" Hard Times Token. -Editor
The AM I NOT A MAN AND A BROTHER Hard Times Token
The recent sale of the Low-54a Hard Times token, the AM I NOT A MAN AND A BROTHER variant, reminds us once again that "collectors don't buy coins, they rent them." Of the four known pieces, at least seven auction appearances are identified since the Ford IV sale in 2004. Newman, Ford, and Partrick all owned examples (the same could be said of the Confederate half dollar), and these examples appeared on the market as these important collections were dispersed. Both the Newman and Ford pieces have traded hands at least once since their appearance in these respective sales.
Eric P. Newman traced the first appearance in print of the Low-54 and Low-54a tokens to the November 23, 1837 Emancipator, an anti-slavery newspaper. This research was presented at the ANS Coinage of the Americas Conference in 1994 and appeared in the related proceedings. Additionally, Newman presented on the topic at the 1993 ANA convention, video of which is available.
Link to "The Promotion and Suppression of Hard Times Tokens":
https://archive.org/details/TheTokenAmericasOtherMoney1994COAC10
Link to Eric P. Newman video presentation on the Low-54a:
https://youtu.be/muckv5P-Fds
Link to Eric P. Newman research file on Low-54a:
https://nnp.wustl.edu/library/archivedetail/539684
To read the earlier E-Sylum article, see:
HERITAGE SELLS SCHUMAN HARD TIMES TOKENS
(https://www.coinbooks.org/v27/esylum_v27n45a26.html)
The David Lisot Video Library on the Newman Numismatic Portal can be found at:
https://nnp.wustl.edu/library/multimediadetail/522852
We highlight one of his videos each week in The E-Sylum. This one was produced for the American Numismatic Association to promote the World Coin Peace Program discussed in earlier issues. Thanks to Newman Numismatic Portal Project Coordinator Len Augsburger for helping me locate this and related resources. -Editor
The World Peace Coin Program was a 1994 proposal to add the word "peace" to all 2000-dated coins. Ken Bressett acted as program director. Appearing in this video are Robert Hoge, ANA Curator, Robert Leuver, ANA Executive Director, and Barabara McTurk, former Denver Mint Superintendent.
In addition to ANA Curator Robert Hoge and Executive Director Bob Leuver, in the background other ANA staffers can be seen, including Education Director James Taylor and Librarian Lynn Chen. Great time capsule! -Editor
To watch the complete video, see:
World Coin Peace Program
(https://www.youtube.com/watch?v=2cF1vBqEhIE)
To read the original press release and media coverage, see Ken Bressett's file as digitized on the Newman Portal:
Peace 2000 Worldwide Program Articles and Ephemera File
(https://nnp.wustl.edu/library/book/521958)
To read the earlier E-Sylum articles, see:
THE PEACE 2000 COIN PROGRAM
(https://www.coinbooks.org/v27/esylum_v27n44a12.html)
THE PEACE 2000 COIN PROGRAM PROPOSAL
(https://www.coinbooks.org/v27/esylum_v27n44a13.html)
The ANS Executive Director position has been named for Syd Martin. Here's the press release. -Editor
The American Numismatic Society (ANS) is honored to announce the establishment of the Sydney F. Martin Executive Director. This recognition is made possible by a generous leadership gift from the family of Sydney F. Martin, a former ANS President, who passed away in January 2021. This gift celebrates the legacy of an exceptional numismatist whose dedication to the Society spanned many years.
Sydney Martin was a successful entrepreneur and a lifelong learner with an unwavering love for history. In the numismatic community, he was celebrated for his remarkable collection of colonial coins, recently auctioned through Stack's Bowers. An accomplished researcher, Martin authored numerous books and articles on colonial coinages. In recognition of his scholarly achievements, he was awarded the prestigious Archer M. Huntington Medal for Excellence in Numismatic Scholarship.
Beyond numismatics, Martin was committed to a wide range of philanthropic causes. Alongside his wife, Sharon, he supported institutions such as the Michener Museum of Art and contributed to the creation of the Philadelphia Prostate Cancer Biome Project at Jefferson Hospital. He also engaged actively in various numismatic organizations, including the Colonial Coin Collectors Club and the Bibliomania Society.
During his tenure as ANS President from 2013 to 2021, Martin successfully led a major fundraising campaign that facilitated the Society's move to its current headquarters. Later, he championed the endowment campaign for the Executive Director position, to which he and other ANS Trustees and members contributed generously.
"Syd rarely sought recognition; he declined numerous naming opportunities throughout his life," said his daughter, Jessie Thompson. "But we feel like this gift, with his name attached, is a perfect tribute to both his dedication to numismatics and the many meaningful friendships formed throughout the community."
Dr. Ute Wartenberg Kagan expressed her profound gratitude to Sharon Martin, Syd's widow, and the entire Martin Family, saying, "Syd Martin was a pillar of support for our institution, enriching members and staff alike with his wisdom and unwavering dedication to numismatics. Having his name forever linked with the role of Executive Director is a deeply meaningful tribute, and I am immensely honored to be the first to hold this position in his memory."
Syd was a Numismatic Bibliomania Society Governor. We miss him, but his memory lives on. -Editor
For more information about the American Numismatic Society, see:
https://numismatics.org/
To read earlier E-Sylum articles, see:
SYDNEY F. MARTIN (1945-2021)
(https://www.coinbooks.org/v24/esylum_v24n04a02.html)
SYDNEY F. MARTIN COLLECTION PART ONE
(https://www.coinbooks.org/v25/esylum_v25n29a21.html)
SYDNEY F. MARTIN COLLECTION PART TWO
(https://www.coinbooks.org/v25/esylum_v25n38a15.html)
SYDNEY F. MARTIN COLLECTION PART III
(https://www.coinbooks.org/v26/esylum_v26n11a20.html)
SYDNEY F. MARTIN COLLECTION WASHINGTONIA
(https://www.coinbooks.org/v25/esylum_v25n39a17.html)
The American Numismatic Society has been evaluating potential new homes away from its historic (and unfortunately expensive) New York City base. Here's an excerpt of an article about a location under consideration in Fall River, Massachusetts - about an hour south of Boston and 20 minutes from Providence, RI. -Editor
It was learned a few days ago that the City of Fall River may have a taker on the Bank Street Armory.
The City of Fall River initially wanted the armory to be converted into an arts and entertainment venue, but Main Street Property had stated that concept is financially prohibitive and would negatively impact the Narrows Center nearby.
Main Street Property planned to invest $13.6 million into developing the armory and had stated they would be open to designating 20% of the apartments as "affordable". Full details including diagrams can be viewed on the July 18, 2023 Fall River City Council agenda.
Fast forward to August.
Alexander Silva of The Preservation Society of Fall River told Fall River Reporter that his organization and The Historical Commission will make recommendations on how the property should be used, with the decision ultimately coming down to Mayor Coogan and the City Council.
Now in November, it has been learned that the American Numismatic Society has been in talks with Mayor Paul Coogan to move its operation from New York City into the Bank Street Armory in Fall River.
Coogan told FRC Media that he spoke with ANS and a gentleman told him some of the challenges they have and that the City could work through them.
"It would be a tremendous asset to downtown Fall River if this company would relocate from New York City."
Coogan went on to say that the cost of ANS doing business in New York City is prohibitive and they want to move here and has been through the building two or three times, and they have an architect reviewing plans.
The mayor believes that it is about a 50/50 chance that they relocate to the Bank Street Armory and Fall River will do anything they can to encourage ANS to relocate here.
To read the complete article, see:
City of Fall River may have found a use for the Bank Street Armory
(https://fallriverreporter.com/city-of-fall-river-may-have-found-a-use-for-the-bank-street-armory/)
Sydney F. Martin Executive Director Dr. Ute Wartenberg Kagan writes:
"The American Numismatic Society continues to explore multiple locations all over the US, where we could eventually find a new home. The extraordinary armory building in Fall River, which is being discussed with the City of Fall River, presents both unique challenges and opportunities. It would allow the ANS to develop a much broader public outreach while continuing its traditional academic and membership programs. As with all such projects, ANS and its partners have to be able to have sufficient funding in place to undertake the necessary renovations and to sustain its operations over the next decades."
Good luck in the search for a new home! -Editor
For more information about the American Numismatic Society, see:
https://numismatics.org/
Thoughts on Jim Barry
Sandy Pearl writes:
"I was sorry to read of Jim Barry's passing. I've known Jim and Helen for years through the many encounters we've had at the FUN Show Original Hobo Nickel Society table and elsewhere. I was always impressed by their numismatic knowledge and their friendliness. Helen is a longtime member of OHNS and Jim always joined her in her hobby pursuits as she did in Jim's collecting adventures. A real nice couple.
"Jim will be missed by many and my condolences to Helen and their family."
To read the earlier E-Sylum article, see:
JAMES RICHARD BARRY (1936-2024)
(https://www.coinbooks.org/v27/esylum_v27n45a05.html)
Haxby Book Obsolete Currency Images Offered
George Cuhaj writes:
"This is my crazy listing for this week: Two box flats of Haxby Obsolete images. 35 pounds of photos. They have basic IDs, and may or may not be images used in the classic four book set."
Interesting research material with a numismatic literature connection. From the Krause Publications library. Haxby books not included - I added those images for context. -Editor
To read the complete lot description, see:
US Obsolete Bank Note Photos Haxby Reference images. 35 pounds. Hundreds.
(https://www.ebay.com/itm/116391970794/)
The Gold Frog
Roger Moore writes:
"The article concerning the gold frog used to produce financial luck reminded me about a relatively rare and definitely odd numismatic oriented book I reviewed for E-Sylum back in 2007. The book called The Gold Frog written by William Veach has as its primary theme a treasure hunt for a rare 1773 Virginia halfpenny. It was distributed by Veach to the coin collectors subscribed to his short-lived Generation Newsletter.
"Though there will be no Pulitzer nominations for this book, it fits into the eclectic, if not eccentric numismatic library for those with an interest in unusual colonial coin literature. It would also be an excellent book to prop between two of the Ribbit statues!"
Indeed. Thanks. -Editor
To read the earlier E-Sylum articles, see:
NUMISMATICS IN FICTION: WILLIAM VEACH AND THE GOLDEN FROG
(https://www.coinbooks.org/esylum_v10n06a04.html)
THE RIBBIT BACKSTORY
(https://www.coinbooks.org/v27/esylum_v27n45a19.html)
International Primitive Money Society
Bob Leonard writes:
"The International Primitive Money Society is an ANA member club which meets annually at the World's Fair of Money, and sometimes at the National Money Show too. We issue a newsletter three times a year, mailed in black and white or sent by email in color. Dues haven't changed for decades and are currently $5 per year, payable as $10 for two years (through 2026)."
For more information, or to join, contact the IPMS Secretary at IPMS.Secretary@Gmail.com . -Editor
To visit the International Primitive Money Society on Facebook, see:
https://www.facebook.com/internationalprimitivemoneysociety/
$1,000 in New $1.00 Bills?
Tom Sheehan of Edmonds, WA writes:
"How can I get $1,000 in new $1.00 bills? My bank is unable to order any. Perhaps a subscriber knows."
Hmmm - I wouldn't think that would be a problem. Is it an individual bank policy issue, or a rule from the Federal Reserve? Any suggestions? -Editor
Here's another entry from Dick Johnson's Encyclopedia of Coin and Medal Terminology. -Editor
Proving. Testing dies before they go into production. No matter whether a die is cut by hand or by machine, it is always useful to examine the die at each stage of production, often before it is cut any further, absolutely necessary before the die is hardened and before any items are struck from it. Thus proving occurs when the die is still capable of being improved – that is, while it is still in a soft state and further cutting can occur.
Proving hand engraved dies. Hand engravers like to examine the state of the die at frequent intervals while they are working on it. This is unnecessary for CAMEO DIES, since the hand engraver is cutting in the positive, but the engraver must frequently examine a negative die. This can be done with a quick impression in very soft material – wax, clay or plasticine – a ball of such plastic material is pushed into the negative relief while the die is still locked in the vise at the engraver's bench.
If the engraver cannot get as sharp of an impression by pressing the wax or clay into the die cavities by hand he would place a block of wood on top of the soft material and direct a hammer blow to the wood block. If he wanted to keep the wax or clay from sticking to the die would dust a little graphite on the steel surface first. If the wax or clay impression is not as detailed as the engraver desires he may opt for an impression in soft metal.
Soft metal proving. In years past engravers would make a SPLASHER or a HOT TIN IMPRESSION, often right at their workbench. The soft metal would be heated, a small amount of melted lead, tin or pewter would be poured onto scrap paper lying on a flat surface (we still observe newspaper stuck to the back of 100-year-old splashers today). The die would be taken from the vise and pressed by hand into the molten and somewhat fluid metal. The impression – sharper than one in wax or clay – would present more distinct detail to the engraver.
Handcut dies could also be proved on a small press – creating a DIE TRIAL. Large firms would have a special press reserved for this purpose – smaller firms would utilize any press not in use at the moment the engraver wanted a struck proof. A hand press could be used or one which could greatly regulate the pressure.
A fairly thick blank of soft metal – always oversize – would be used with a die still in the soft stage. Thick blanks would be used not to damage the die; too much pressure, or too hard a blank, or too thin a blank could cause the die to sink or disfigure. Soft lead or tin blanks struck with low pressure could create a satisfactory die proof image at this stage.
The die proof would be examined and if the die required some further work, it could, of course, still be engraved in the soft state. If the die was cut properly – with all its intended relief and with the high points intact – it would thus be acceptable. The die would then be hardened and could be placed into production.
Proving machined-cut dies. In present day practice, experienced die cutting machine operators examine the die under magnification perhaps as often as hand engravers examined soft metal proofs. Each step of production must be satisfactory before going on to the next step. For machine- cut dies this would occur after each pass or each cut. While the die is locked into position in the diecutting machine a soft material impression could be taken, like the hand engraved die, in wax, clay or plasticine. This impression would be closely examined to see if all the detail was cut properly or whether another cut is required. See PANTOGRAPH.
Customarily a die is removed from the diecutting machine after three separate cuttings and then a lead proof is made on the proof press. Such an impression is also called LEAD IMPRESSION or LEAD CLICHE'. Dies are always proved one at a time. They are locked in the proof press, a thick oversize blank is positioned in the press and the press is set for a very low pressure squeeze. The pressure may be increased until a satisfactory impression results.
Again, the thick planchet of soft lead or tin is used to protect the soft steel die. The thick planchet acts as a cushion for the soft steel. The soft metal proof is examined and if the die is acceptable it is hardened for production.
Proving machined-cut dies. In present day practice, experienced die cutting machine operators examine the die under magnification perhaps as often as hand engravers examined soft metal proofs. Each step of production must be satisfactory before going on to the next step. For machine- cut dies this would occur after each pass or each cut. While the die is locked into position in the diecutting machine a soft material impression could be taken, like the hand engraved die, in wax, clay or plasticine. This impression would be closely examined to see if all the detail was cut properly or whether another cut is required. See pantograph.
Customarily a die is removed from the diecutting machine after three separate cuttings and then a lead proof is made on the proof press. Such an impression is also called lead impression or lead cliché. Dies are always proved one at a time. They are locked in the proof press, a thick oversize blank is positioned in the press and the press is set for a very low pressure squeeze. The pressure may be increased until a satisfactory impression results.
Again, the thick planchet of soft lead or tin is used to protect the soft steel die.
The thick planchet acts as a cushion for the soft steel. The soft metal proof is examined and if the die is acceptable it is hardened for production.
Lead versus tin and virgin versus reused metal. Pure lead or tin makes excellent soft metal proofs, tin being somewhat softer. The choice of lead in modern times is more a matter of lower cost, however. Virgin metal of either lead or tin is employed only if the die proof is to be a permanent record of the first state of the die before any striking or wear occurs, otherwise former lead or tin proofs can be turned over and an impression taken on the flat backside (the old design being mashed flat – but can be seen folded into the flat surface); if a third die trial is taken on the same piece of metal, the under design will be seen on the new relief side. Thus lead and tin proofs are usually discarded after a second impression – these proofs are melted to form new disks or blanks for future proving.
Die trials. Although soft material and soft metal proofs can be made by hand (see above), die trials are soft and made of one side only – one die at a time. If both dies – in a soft state – were locked in a press and an impression made it would be extremely foolhardy as injury to either die may result.
Once the dies are hardened, both dies may be used to make a two-sided die trial, irrespective of the hardness of the blank. If one die is ready and the other is not, the use of a diaper die may be employed – a die with a wavy pattern (diaper) design – this indicates another die is to be used but is not yet ready.
Proofs may be marked in some way, they may be numbered or marked "author's proof," the latter intended for the artist. An author's proof is also called artist's proof or sculptor's copy – they all mean the same.
Nonmetal proofs. While it is possible to save wax or clay impressions as a proof of any state of the die, in actual practice, however, few are so saved – they are just too impermanent. Once the die is approved, metal impressions may be made – or pieces struck from such a die – and these are permanent and justify saving (as for archive or other purposes).
On the other hand cardboard proofs do exist. These would only be suitable for dies under 2-inch size and in low relief, as coin dies. High relief or large coins or medals could not be proved in cardboard. Examples of cardboard die impressions are in the Birmingham City Museum and Art Galleries. These are of dies for coins and medals which the Birmingham Mint wanted to donate but perhaps did not have the authority to give away full specimens or other die trials. In America, George Soley, struck cardboard proofs of his small-size dies on the first steam powered press he acquired as scrap from the U.S. Mint.
To read the complete entry on the Newman Numismatic Portal, see:
Proving
(https://nnp.wustl.edu/library/dictionarydetail/520404)
E-Sylum Feature Writer and American Numismatic Biographies author Pete Smith submitted this article on coin dealer Teddy K. Thrush. Thanks! -Editor
It often happens that I come across a story idea while looking for something else. This week I came across coin dealer Teddy K. Thrush. I thought his story had enough unusual elements to be interesting.
Thrush was born in Oklahoma on July 16, 1944, the son of "Teddy" Otho Lamore Thrush (1911- 1964) and Maudie Valeria Voyles Thrush (1910-1997). His father was a farmer and partner in Harris and Thrush Manufacturing Company.
In 1962, Teddy and his cousin, W. H. Voyles (1931-1988), set up the Big 12 Trailer Co. to manufacture cotton trailers. He was getting advice and probably financial support from his father.
Teddy was also a coin dealer by 1963. In the October 1963 issue of The Numismatist, he was listed as a new junior member, J50439. He was not mentioned in The Numismatist again. He also joined the Texas Numismatic Association.
Early in 1964, before he turned twenty, he opened Thrush Coin Exchange in Lubbock, Texas. It featured "one of the largest stocks of rare coins in the southwest," a large bid board and teletype. The timing suggests he was out of high school and not attending college. How did he acquire the large inventory? Family money may have provided the assets, but who provided the coins?
He was married to Sharon on March 19, 1969. They were divorced on September 29, 1971.
Thrush was arrested as a suspect in the December 13, 1971, robbery of Mr. and Mrs. Frank Norris of McAllen, Texas. An estimated $15,000 in cash and coins were taken. Also named as an accomplice was Thomas Haas, suspected in a series of burglaries.
Texas Ranger Jack Dean was credited for the investigation and apprehension of Thrush as he crossed the border returning to El Paso from Juarez, Mexico. Dean was presented with the "Golden Bullet Award" from the Texas Numismatic Association. He also received a $500 award from the Rare Coin Theft Fund of the American Numismatic Association.
In 1973, Thrush was operating an escort service called All American Girl. An employee testified that girls had contracts forbidding sexual relations with clients. This illustrated the high moral standards maintained by Thrush. His girls were paid $50 for a night or $500 for a weekend.
The story line now shifts to Jack Boozer, manager of the Douglas Weaver Rare Coins Shop in Waco, Texas. It was around closing time on March 8, 1972, when two well-dressed armed men entered the store to rob the place. Among the items taken were a $4 gold Stella and a gold bar worth $10,000. Estimated loss was $140,000.
The March 8, 1972, issue of Coin World included a full-page ad for the Douglas Weaver Rare Coins Shop. It listed hundreds of rare coins with their prices. The robbers were looking for specific coins and may have used the ad as a shopping list. Authorities speculated that the robbery was the largest in Waco history.
Shortly after the robbers arrived, Boozer's wife Rita and three young children entered the store. They were taken to a back room, bound with tape and locked in a bathroom.
The robbers loaded six briefcases with rare coins and carried them out to the wife's car, a 1971 Dodge Charger. Boozer was forced to drive to a remote location where he was locked in the trunk. It took him five hours to break open the trunk with a tire tool. He got a ride to a nearby Owens-Illinois glass factory and called police.
By that time, Boozer's son, Brad (age 3) had freed himself and untied his sister, Amanda (age 5). Brad found scissors in a back storeroom and cut his mother free. Rita waited a while before breaking the bathroom door and calling police. When they arrived, they had to break a window to get in as the robbers had locked the door and taken the key.
Thomas Edgar Haas (1941-2011) admitted that he and his brother had robbed the store. He was an ex-convict with a long criminal record. He claimed Teddy Thrush had planned the robbery and promised to split the proceeds three ways. Thrush knew Douglas Weaver through previous business as coin dealers. Thrush drove the two robbers to Waco and provided a typed list of the most valuable coins. Haas delivered the coins to Thrush in Irving, Texas, the night of the robbery.
Thrush claimed he sold the coins to "a man in California" who was not identified. The prosecution believed the coins were sold to Bob Messner who relocated to Mexico City. Haas thought he had been double-crossed when Thrush paid each brother only $3000. He cooperated with the police in exchange for immunity from prosecution.
Thrush was arrested and brought to trial. He testified that he was forced to plan the robbery by Haas who otherwise threatened to kill Thrush and his mother.
During the trial, prosecutors played tape recordings of conversations between Haas and Thrush made without Thrush's knowledge. In one conversation, Thrush told Haas that the loot had only realized about $10,000. If Thrush sold $140,000 in gold coins for $10,000, his competency as a coin dealer might be questioned. Another tape mentioned a previous robbery in Lubbock that yielded very little of value.
After a ninety-minute deliberation, the jury of eleven women and one man found Thrush guilty. The jury recommended a sentence of twenty years in prison. Recent reports have Thrush living in Tucson, Arizona.
In 1982, Jack Boozer and Douglas Weaver (1926-2012) joined to create Boozer-Weaver Jewelers in Valley Mills with twenty-five employees by 1992. Recent reports have Jack Boozer living in Waco, Texas.
Thanks, Pete. Interesting, indeed. Always good to learn of coin dealers with high moral standards. -Editor
Greg Bennick's latest interview for the Newman Numismatic Portal is with museum curator and academic Dr. Lawrence Lee. Here's the first part, where Larry talks about which age group should be most actively targeted to become collectors. -Garrett
GREG BENNICK: Hi, everybody. This is Greg Bennick with the Newman Numismatic Portal, and I am here today to conduct another interview, this time with Dr. Lawrence J. Lee, museum curator, and I will be referring to Dr. Lee today as Larry. This is a casual and fun conversation about his background and connection to the coin hobby. Larry, how are you doing today?
DR. LAWRENCE LEE: Hey, Greg. How are you doing? Thanks for inviting me.
GREG BENNICK: Absolutely. Well, let's start off. Just give me a little backstory about your connection to the coin hobby. Have you always been a collector? Have you always been a researcher? A little bit of both? I'd love to know.
DR. LAWRENCE LEE: Well, on my business card, I claim to be a professional numismatist, as I see there being a gradation between the coin collector, who is a hobbyist, and the numismatist, who is the scholar and who realizes that knowledge is important. The main difference is, to me, hobbyists usually don't buy many books besides The Red Book, whereas the more interested you become in numismatics or a subset thereof, the more numismatic books you have. You start becoming more and more of a numismatist rather than a hobbyist. So, I see it as a gradation, and so that's why I self-proclaim to be a professional numismatist.
GREG BENNICK: That's great. So, you've been a collector historically. How did you get your start in coins?
DR. LAWRENCE LEE: Well, I am the template for the 10 to 13-year-old boy who, just prior to puberty, some way or another becomes interested in coins. In this case, my grandmother's little box of pennies. And there was a 1916-D Lincoln cent in there that was bright and shiny, natural mint luster, I later learned. It was very high grade.
At any rate it was neat and it caught my attention. I wanted to know more and because I lived in Denver: I knew the D on it stood for the Denver mint. But it wasn't just a situation of let me quickly accumulate and fill a blue holder and start pushing these coins in one at a time and get my date run complete. It was more that I was interested in, well, since Denver has a mint here, finding out what minting was about? I became interested, not so much from the investment strategy standpoint, but, as it turned out, interested in it as an academic discipline.
GREG BENNICK: So, your start, right off the bat, was as a researcher, a student of the hobby beyond just the collecting standpoint.
DR. LAWRENCE LEE: Yes. Then interestingly, my father was an artist, a commercial artist, but in his heart, he wanted to be a fine artist. He contracted to do some background work at the Denver Museum of Nature and Science. He was working in the Australian outback section of the diorama, which was about an 80-foot-long section, in front of which they would mount animals.
I can just remember seeing him sitting on a stool, painting shrubbery way in the background of this diorama. It was just really cool to be in a museum after hours and see what was going on. So that museum, the Denver Museum of Nature and Science, which I went to many, many times as a child, ultimately - my most recent publication is a publication of the Indian Peace Medals that are in that very museum. So, I kind of came full circle with that.
GREG BENNICK: Obviously curation, in a sense, is essentially in your blood.
DR. LAWRENCE LEE: Well, I would say to a certain extent, curation is in every collector's blood. To curate means to care for. To be a curator means to be the caretaker for. And so, all collectors, to a certain extent, have their own mini museum where they are the curator and they care for their own collection. They keep track of where they got the item, the extensive records, the provenance, where they got it and how much they paid. They're basically duplicating what museum curators do on a professional level for other people's collections. So being a curator, I do have it in my blood to the extent that I believe collectors are born, not made. Basically, the collecting gene is a part and parcel of who and who collects what.
If you look at any mailing list or membership rolls, they show that 90% of all coin collectors are male. It's not that there's not female collectors. But in general, women, if they collect, don't necessarily collect coins. I'm probably on dangerous ground here.
GREG BENNICK: I mean, realistically, the hobby is replete with men. It is predominantly men and efforts are made continually to change that. I know Women in Numismatics was the name of the group that Charmy Harker was running for a while. Efforts are always being made, but definitely men gravitate toward the hobby more, it seems.
DR. LAWRENCE LEE: What I'm arguing is that it's genetic. Collecting is genetically inherent. Men tend to like coins more for maybe reasons of history, maybe reasons of wealth and accumulation. Consequently, the pattern is generally: they get into it, boys do, and they have it the coin bug until puberty. And then they discover girls and they leave it. They quit doing it. Later in life after the family nest is empty, they're 40, they're 45. They now have discretionary income. Now, those are the guys if the ANA or the ANS or whoever, I think if you're going to target someone, you don't target the 13-year-old kid who's about to lose interest. You target the 45-year-old guy who collected coins way back when and, you go after him.
GREG BENNICK: The idea of targeting 40-year-olds with discretionary income is pretty interesting. So, you've written about the, and I'm putting this in air quotes as I say it, "the myth of the young numismatist" and the title is provocative since a lot of emphasis, of course, is placed on young numismatists as the future of the hobby. There are so many young numismatists in the hobby today and its very encouraging. Is that what you're talking about with the myth of the young numismatist, meaning that we should be targeting older individuals in terms of bringing them into the hobby for the importance of the future of the hobby?
DR. LAWRENCE LEE: Yes. I'm saying that if you, take it as a given that there's a genetic component, and the fact that 90% of coin collectors are male, it seems to suggest such. Then there is the fact that most of the males get into it at puberty and get out of it once they discover women and beer and that they don't have discretionary income. Some people come back to it, and those are the ones I think you should target. But the emphasis is on the young collector, the young numismatist. It is misplaced, in that those people who were born to be a collector, the John Kraljevich's and the Dwight Manley's of the world, they're going to collect regardless.
If they find their way to the coins, fine, but they're going to have that gene, and they're going to collect regardless. So, they became interested in coins, and both, to the betterment of the hobby, became successful YNs. But my argument is that not all of them are as noteworthy, whereas if you look at the new people, the interest of people, the people with money spending in the coin shows, it's not 13-year-old boys spending in the coin shows. It's 45-year-old men.
So, there's not a single study anywhere that validates that helping YN people, helping the young numismatists, the young kids, leads to any kind of further growth down the road.
GREG BENNICK: So, you're suggesting that it is essentially as though YN's could theoretically be encouraged as young numismatists and then not really be expected to be seen again for the most part for 30 more years?
DR. LAWRENCE LEE: Yeah, exactly. They'll be self-driven enough. They'll be writing their own books and starting their own companies soon. So, turn them loose. Let nature take its course.
GREG BENNICK: I am sure there will be a lot of opinions on this topic! Especially with the proliferation of YN's recently in the hobby and the professional programs currently working to bring them into the hobby and support them. Now, switching gears a bit: I'm just curious…in terms of a genetic component to collecting, could you speak to that? This genetic idea? I mean, I understand in terms of tradition or standardized societal roles having an influence along the way, especially in regard to you mentioning it could be connected to the acquisition of money. This historically could speak to a sociological component between the role of men in society historically and where our interests are today. Is that what you're talking about? And are there studies that show that?
DR. LAWRENCE LEE: Oh, boy. That gets really tricky because I'm not a geneticist.
GREG BENNICK: Right. Me either!
DR. LAWRENCE LEE: I just know that in autism, there is a total focus on single subjects - and there seems to be a lot of YNs who get into coin collecting because it's a natural outlet for those who have slight autistic tendencies. There's a genetic component. How much it is, I'll leave to other people to say exactly. But at the very least, we should be aware there might be such a thing and we might adjust accordingly, because we teach adults totally differently than we teach young people. And the people we have teaching the Boy Scout badges, and the coins in the classroom are geared towards elementary, non-mature thinking. They don't have the background and experience, not necessarily that it's necessary, but that it helps a lot to imprint it more deeply into the brain, if their interest and background association is there. So that's why there's adult education classes in which you don't do the ABCs because you already expect a certain level of knowledge to have been reached. So that's where we need to put our focus. Teaching at that level and aiming the investment, grading, collecting aspect of the hobby to that age level and degree of maturity.
About the Interviewer
Greg Bennick (www.gregbennick.com) is a keynote speaker and long time coin collector with a focus on major mint error coins. Have ideas for other interviewees? Contact him anytime on the web or via instagram @minterrors.
NOTE: The interview was conducted in parts via phone, so no video exists, and editing together audio would have been choppy sounding at best. This transcript is an accurate representation of the whole interview experience. Thank you for reading! -GB
Republished here with permission is an article from the 75th Anniversary issue of NENA News with a timeline of the numismatic career of its early editor Ken Bressett. Thanks! I've changed the format from a table and added some illustrations. -Editor
5-Oct-28: Ken Bressett born in Keene, NH
1937: Ken first starts to collect coins with coins given to him by his grandmother and a neighbor.
1947: Attended Dresser Business School - later studied Graphic Arts at U. of Wisconsin
1948-1951: Member of the New Hampshire National Guard
1949-1959: Worked for Sentinel Publishing Co. as a printer and compositor.
1950-2012: Married to Bertha Britton - four children
1950: Organized first New Hampshire Coin Club in Keene, the Cheshire County Numismatic Society
1950's (early): Began photographing coins including the Eliasberg collection and Large Cents from William Sheldon.
1950's (early): Discovered 12 new varieties of colonial coins.
1956: "Coined" the term double-die for the 1955 doubled die Lincoln cent.
1956 (starting): Began freelance editorial work on the Red Book.
1959: Moved to Wisconsin and started working for R.S. Yeoman in Racine.
1960: Founded the Rittenhouse Numismatic Society, an ongoing fraternity of well-known numismatic authors.
1962: Publishes The Fantastic 1804 Dollar with Eric P. Newman
1964-1968: Editor and Publisher of the Whitman Numismatic Journal.
1966: Appointed to the U.S. Assay Commission by LBJ.
1971-2018: Became Editor of the Red Book and the Blue Book when Yeoman retired from Whitman Publishing.
1974: Publishes Let's Collect Coins! - An Introduction to a Fascinating Hobby
1975: Publishes A Guide Book of English Coins
1975-Present Day: Teacher at the ANA Summer Seminars (today he is a "Roving Instructor").
1976: Wrote a variety catalog for Vermont Coppers. He introduced a numbering system for these coins which is still in use today.
1977: Publishes 1st ed. of The Official ANA Grading Standards for United States Coins with Abe Kosoff and Q. David Bowers. The book is now in its 7th edition and still edited by Bressett and Bowers.
1978: Awarded the ANA Medal of Merit
1979: Publishes Buying and Selling United States Coins
1980: Started working for A.M. Kagin in Des Moines, Iowa
1982: Publishes Basics of Coin Grading for U.S. Coins
1982: Moved to Colorado Springs, Colorado and began working at the ANA Headquarters.
1982-1988: Worked as the Director of ANACS at the ANA
1983-1988: Worked as Director of Coin Authentication and Educational Programs at the ANA.
: Won the Clemy Award for Numismatic Writing from the Numismatic Literary Guild (NLG).
1986: Dove with Mel Fisher to the Nuestra Senora de Atocha for coins and treasures
1989-1994: Member of the ANA Board of Governors
1990: Publishes United States Coin Trends with Q. David Bowers
1991: Publishes Collectible American Coins
1991: Publishes Collecting U.S. Coins
1993: Publishes First Edition of the Guide Book of United States Currency. Book is now in its eighth edition.
1995-1997: Served as President of the ANA and wrote a monthly column for the Numismatist.
1996: Elected to the National Numismatic Hall of Fame
1996-2003: Ken was a member of the Citizens Commemorative Coin Advisory Commission. Promoted the fifty State Quarters Program.
1997: Awarded the Glenn Smedley Memorial Award
March and July 1998: Won two ANA Presidential Awards
1998: Ken and his wife Bert received the ANA's Farran Zerbe Award
1998: Edits the Handbook of Ancient Greek and Roman Coins written by Zander H. Klawans
2001: Awarded the ANA Lifetime Achievement Award
2004: Awarded the ANA Numismatist of the Year Award
2006: Whitman Publishing created a silver dollar sized medal featuring Bressett and Yeoman to celebrate the 60th anniversary of the Red Book.
2007: Publishes first edition of Money of the Bible - Book is now in 3rd Edition
2007: Publishes Milestone Coins: A Pageant of the World's Most Significant and Popular Money
2010: Ken is awarded the ANA Century Club Award for sponsoring 100 new members.
2010: ANA names a Y/N Literary Award (18-22) after Ken Bressett.
2016: Received the Distinguished Service Award from the American Numismatic Society (ANS).
2017: Awarded the Adna G. Wilde Award for Excellence
2017: Publishes latest edition of the Whitman Guide to Coin Collecting: An Introduction to the World of Coins. First edition published in 1999?
2018: Won Burnett Anderson Award for Numismatic Writing.
2021: Named one of Coin World's Top 10 - from their list of the 60 most influential people in numismatics 1960-2020.
2022: Publishes Bible Lore and the Eternal Flame
2022: Inducted into the Brotherhood of Saint Eligius as a Knight of the patron saint of numismatics.
2023: Received the Presidential Award from the ANA.
2024: Writes Money Musings column for the ANA website.
For more information on the New England Numismatic Association, see:
https://www.nenacoin.org/
To read the earlier E-Sylum article, see:
KEN BRESSETT AND NENA NEWS
(https://www.coinbooks.org/v27/esylum_v27n45a17.html)
Here's a final batch of selections from the upcoming Sovereign Rarities auctions. Some beautiful medals here, of great interest on both sides of the Atlantic. -Editor
On November 19, Sovereign Rarities will hold two sales, Auctions XV & XVI. Auction XV is a short sale of some of the highest quality historical medals to have been offered for some time, The Highcliff Collection, and many of the medals also boast significant provenances like Bute, O'Byrne, or are even Eimer plate medals.
Medals have an advantage over coins in that their size, and the more powerful presses used to strike them, mean engravers could more easily display work of great detail in high relief. For this reason they are often far more accomplished than coins. Portraits and condition were the inspiration for the collection and just some of the highlights include:
Capture of Morro Castle, Havana 1763 silver medal by D. T. F. Prieto, published by the Spanish Academy of Arts, conjoined busts of Ludovico de Velasco and Vincentio Gonzalez right, rev. view of the assault on Morro Castle, its magazine exploding, frigates in the water around, longboats rescuing drowning men, IN MORRO. VIT. GLOR. FVNCT, in exergue, ARTIVM ACADEMIA CAROLO REGE CATHOL ANNVENTE CONS. A. MDCCLXIII, 48mm, 56.40g (Betts 443; Eimer 704; MH 1921). As struck and beautifully toned, a truly exceptional example of this rare medal.
Native American Peace Medal, 1814, specimen bronze medal by Thomas Wyon Junior, laureate and draped bust of George III right, wearing the collar of the Great George, GEORGIVS III DEI GRATIA BRITANNIARVM REX. F: D:, rev. royal arms, crest, supporters and motto, 1814 below, 75mm, 183.34g (BHM 844; Eimer 1061; Jamieson fig. 24). Choice extremely fine, rare.
Hudson's Bay Company Native American Peace Medal, restrike bronze medal struck c.1830, obverse by Conrad Heinrich Küchler, bust of George III left, GEORGIUS III. D: G. BRITANNIARUM REX. FID. DEF. &c, rev. arms of the Hudson Bay Company, 48mm, 56.43g (BHM 1062; Eimer 1120; Jamieson p.26 fig. 20). As struck, and with subtle gold and sapphire iridescence, rare.
British Empire Medal, South Africa War, 1901, large silver medal by Frank Bowcher, published by Messrs Spink & Son Ltd., bust of Edward VII left, EDWARD VII. D G REX. ET. I. all within wreath at the centre, around which are Justice, Peace and Industry within the urban landscapes of Britain and South Africa, rev. equestrian figure of Lord Roberts crowned by Fame and Victory, with armies behind, SOVTH AFRICA, VIRTVTE ET DVCTV, PAX QVAERITVR BELLO 1901, edge stamped SILVER, 103mm, 499g, in original case (BHM 3735; Eimer 1859). Choice good extremely fine, spectacular, and very rare.
Edward, Prince of Wales, later Edward VIII, Honourable Company of Master Mariners 1935, silver medal by Thomas Humphrey Paget, head left, H.R.H. THE PRINCE OF WALES. MASTER. rev. arms with supporters, crest and motto, HONOURABLE COMPANY OF MASTER MARINERS, 50mm, 71.89g, with blue leather case of issue (Eimer 2033). Practically as struck, very rare.
The Opening of the Suez Canal, 1869, large silver medal of the Compagnie Universelle du Canal Maritime de Suez, by Louis-Oscar Roty, draped figures of Labour, named, bearing a savings jar, and Peace, seated, identified by her attributes the torch, cornucopia and olive branch, aerial view of the canal and perhaps Mount Sinai beyond, L'EPARGNE FRANÇAISE PREPARE LA PAIX DU MONDE [French savings prepare world peace], rev. COMPAGNIE UNIVERSELLE DU CANAL MARITIME DE SUEZ, LE 17 NOVEMBRE 1869 LE CANAL MARITIME A ETE OUVERT A LA GRANDE NAVIGATION, named cartouche on oak spray: THOMAS SUTHERLAND MP ADMINISTRATEUR, Sphinx and pyramid below, 60mm, 94.72g. Extremely fine with cabinet tone, of the highest historical significance
At their second sale of the day Sovereign will offer The Bernard Workman Collection of Pennies, with some astonishing rarities including the Unique 1954 Penny. It's not just pennies though. The wide-ranging auction also showcases world coins and high-quality modern British including:
Elizabeth II (1952-2022), gold proof Five Hundred Pounds, 2019, Una and the Lion, 5 Ounces of 999.9 fine gold, from the Great Engravers series, commemorating the Una and the Lion design by William Wyon, crowned head right, JC initials below for designer Jody Clark, Latin legend surrounding, ELIZABETH II. D. G. REG. F. D. 500 POUNDS., rev. Queen Victoria as Una leading the British lion left, holding orb and sceptre, thick plain ground line, date in Roman numerals below, MMXIX, W. WYON R.A. below, legend around upper half, DIRIGE DEUS GRESSUS MEOS., milled edge, 156.3g (S.GE4). Lustrous proof state, Graded by NGC as PF70 Ultra Cameo, accompanied by original Royal Mint box and Certificate of Authenticity. First issue from the Royal Mint Great Engravers Series. Issued at a very low mintage hence becoming rare on the market.
For more information, or to bid, see:
http://preview.coinbooks.org/www.sovr.co.uk
To read the earlier E-Sylum articles, see:
SOVEREIGN RARITIES WORKMAN COLLECTION
(https://www.coinbooks.org/v27/esylum_v27n42a21.html)
SOVEREIGN RARITIES WORKMAN COLLECTION, PART 2
(https://www.coinbooks.org/v27/esylum_v27n43a29.html)
SOVEREIGN RARITIES WORKMAN COLLECTION, PART 3
(https://www.coinbooks.org/v27/esylum_v27n44a24.html)
SOVEREIGN RARITIES WORKMAN COLLECTION, PART 4
(https://www.coinbooks.org/v27/esylum_v27n45a20.html)
In July we learned of the passing of colonial coin specialist Dick August. The press release announces upcoming sales of his collection by Stack's Bowers Galleries. -Editor
More than 60 years in the making, the famous collection of Rhode Island numismatist Richard August will be offered by Stack's Bowers Galleries in a series of auctions in 2025 and 2026. Known to his friends as Dick, August was a towering figure within the close-knit community of early American coin and medal enthusiasts. He was a pioneer in the fields of Betts medals and colonial paper money and an exacting builder of variety sets of most major pre-Federal copper series. Beginning decades ago, Dick was an early adopter of collecting colonial-era coins from Europe's New World empires alongside coins more explicitly made for America. He came to focus on these coins with as much vigor as on their Redbook-listed counterparts, amassing important collections of coins from Mexico, Guatemala, Chile, Peru, Bolivia, and the West Indies. Selections from August's incredibly choice collections of coins from England, Ireland, and Scotland will be the first coins from the cabinet to be offered, slated for our January 2025 New York International Numismatic Convention sale.
Richard August was well known as a numismatist and was a fixture at shows all over the country for decades, particularly those in his native New England. Beyond his life in coins (a full-time passion since before he attended the University of Virginia in the late 1950s), Dick was a high-level math teacher and tutor, a distance runner and running coach, and a passionate practitioner of hobbies ranging from gardening to fish husbandry to shooting (he competed on the rifle team at UVa). His remarkable memory and knowledge base, as deep as it was broad, impressed his numismatic colleagues, but the collection his expertise allowed him to amass impressed his friends and rivals as well.
Dick's pre-Federal copper collections are among the finest ever assembled, with unique varieties present in the Connecticut, New Jersey, and Fugio series. Along with his Vermont, Massachusetts, Machin's Mills, and other notable copper subcategories, these collections include classic rarities and Condition Census examples, alongside interesting die states and contemporary counterfeits. These were gathered through savvy cherrypicking and participation at major auctions dating back to the 1960s. His participation in the famous 1966 C.H. Stearns sale resulted in not only the expansion of his Massachusetts silver holdings, but also the acquisition of most or all of Stearns' early American medals in a private transaction. This formed the basis of his highly important collections of Betts medals and Washingtoniana, and both series are replete with notable rarities.
His world coin holdings are extensive, with particularly notable collections from Latin America and the British Isles. Focused on the era of American colonization, roughly 1492 to 1830, Dick's collection comprised impressive date runs of coins in every collectible denomination of copper and silver, with some gold highlights as well. His coins of the British Isles are notable for their quality; selections focused on 17th century coins of England, Ireland, and Scotland will be offered in the January 2025 NYINC sale.
Betts medals, Washingtoniana, and paper money are expected to cross the auction block in March /April 2025, followed by select Latin American, Fugio coppers, and more in Stack's Bowers Galleries' August 2025 Global Showcase auctions. A major offering of colonial coins is scheduled for the firm's November 2025 official Whitman Expo Auction, held in cooperation with the Colonial Coin Collectors Club (C4).
To read the earlier E-Sylum articles, see:
RICHARD AUGUST (1940-2024)
(https://www.coinbooks.org/v27/esylum_v27n28a09.html)
MORE ON RICHARD AUGUST
(https://www.coinbooks.org/v27/esylum_v27n29a13.html)
On Tuesday night I eased into a parking spot at the Vienna (Virginia) Community Center. I'd brought a heavy box of giveaway literature for the Fairfax Coin Club, and a luggage cart would have come in handy. I stopped a couple times to set it down, but I did manage to haul it to the upstairs room where the club was meeting. I spread piles of recent numismatic periodicals and spare books on the freebie table.
I also had a large National album for mint sets and a handful of vintage coin boards. I gave those to Daryl Haynor for the club to auction or raffle off. But not before I showed the group to the evening's speaker, Greg Bennick of Seattle. As noted a couple issues back, Greg was here to speak on his numismatic specialty, error coins. Greg thought the Indian Cent board would be a nice gift for his father, and I gave it to him.
While Greg, Daryl and the club officers got set up for the meeting, I grabbed a couple slices of pizza for a light dinner. I was also texting with my college student daughter, planning some Christmas gifts. Daryl ran an opening segment of coin quizzes, nicely produced with music and video in the style of a TV game show. It was very fun and educational.
Some 50+ members and guests were in attendance, and it was a knowledgeable and appreciative crowd, including a number of young faces. I saw some familiar older faces from my Northern Virginia Numismatic Social group, Nummis Nova; in addition to Daryl, Mike Markowitz, Lorne Lavertu and Tom Kays were there.
Greg's talk was an overview of error coins. I learned some things, and I had thought I was already familiar with the topic. He did a great job of making a complex topic accessible and understandable. He was very engaging and personable - I think everyone came away both entertained and informed. Here are some of my photos.
Greg ended with a discussion of his recent discovery of a rare mated pair of error Shield Nickels.
He had a number of people come up to him afterwards to ask a question, show him a coin, or get his business card. We walked out of the building a little after 9pm, and we soon met up again a mile or so away at the bar in Ristorante Bonaroti, a great restaurant where Nummis Nova has met in the past. We talked about a number of things, from the evening's events to recent and upcoming interviews Greg is doing for NNP and The E-Sylum, and some of my library consignments to the next Kolbe & Fanning sale, such as an archive of material relating to collector John A. Beck.
It was great to see Greg. It was a short meetup, but I would see him again later in the week at the Whitman Baltimore Coin Expo.
To read the earlier E-Sylum articles, see:
ERROR SHIELD NICKEL MATED PAIR DISCOVERED
(https://www.coinbooks.org/v26/esylum_v26n16a25.html)
FAIRFAX CLUB HOSTS ERROR COIN SPEAKER
(https://www.coinbooks.org/v27/esylum_v27n43a16.html)
On Thursday I worked half a day and after lunch headed up to Baltimore for the Whitman Coin Expo. I quickly ran into Greg Bennick near the Stack's Bowers table and the two of us headed over to Gerry Fortin's nearby table to speak with Len Augsburger about Greg's recent interviews for NNP. The one with Larry Lee is a must-read, and it starts in this issue.
I had a present for Len. Some months ago he'd given me his want list of American Journal of Numismatics issues, and on Monday I'd finally found time to rebox and inventory my stock of AJN back issues. I only had a single issue Len needed, but what an issue - these had come from the publisher's backstock, and the issue was clean, pristine and uncut, just as it had left the printer.
I was looking to speak with Chris Karstedt of Stack's Bowers and SBG President Brian Kendrella let me know I could find her at auction lot viewing. On my way I stopped at the food vendor in the lobby and learned that they wouldn't accept cash. When I pushed back on this, I could tell that it wasn't that first time the staff had gotten complaints. A coin show where your cash is no good. I was going to tip them a five dollar gold piece, but kept it in my pocket and gave them a credit card instead. They didn't have a good answer to my question - "So what are you going to do if the power goes out?"
On the way upstairs I ran into a longtime New York dealer and I asked if he was going to auction viewing as well. "No - I'm going to the can."
Once there I learned Chris was busy but could see me in ten minutes or so. So I decided to do something I hadn't done in a long time - look at some lots. I registered, grabbed a catalog, sat down and asked for a few lots. I was at least prepared with a mental list, for earlier in the week I'd read through the hardcopy catalogs SBG had mailed me.
My first request was for a modern piece, the first item in the physical cryptocurrency section - Lot 6001, a loaded Casascius 0.5 Bitcoin. But I was out of luck because the lot was still at the Costa Mesa office. The cryptocurrency lots are too valuable to insure and transport to the show. Lot 6005 is a Casascius 5 Bitcoin or "Bitnickel". At tonight's price of approx. $90,000 per Bitcoin, its' intrinsic value is nearly half a million dollars. I wish I could say I had a mint roll of them around here somewhere.
Here are some of the lots I *was* able to see:
Lot 1093: 1800 Mechanic Slave Hire Badge
Lot 1190: 1783 Chalmer's Shilling, Short Worm Variety
Lot 1311: Bar Copper
I recommend lot viewing to everyone. If you're not a bidder, make way for those who are, but if the staff is open, use the opportunity to learn by seeing rare pieces in person. I'd never held any of these items before, and it was particularly useful to see the slave badge in hand.
Back on the bourse floor I visited some of our E-Sylum advertisers, including Doug Winter, Julian Leidman, Jon Sullivan, Wayne Herndon, Charlie Davis and Tom Caldwell of Northeast Numismatics. I ended up making impulse purchases at the last three tables - more on those in my next Diary article.
At Wayne Herndon's table I found an election-related item. We've discussed some of these products in previous issues. Political item collectors can get bargains in the aftermarket. I didn't ask the price of this set, but it's probably cheaper than it was when first put on the market, even given the outcome of the election.
I did purchase this at Wayne's table. I don't believe I've ever had a piece of numismatic ephemera printed in braille.
I was aware of the Colonial Coin Collectors Club presentations Thursday evening, but I had a long drive home and work in the morning. I grabbed a quick meal around the corner at Kona while waiting out some of the rush hour traffic, then headed south to Virginia.
It was a super short show for me, but fun and productive. Along the way I also got to speak with (or wave to/bump fists with) Hunter Hicks, Mike Packard, John Kraljevich, Tony Terranova, Gerry Fortin, David Fanning, John Feigenbaum, Stu Levine, Chris McDowell and others. I'm very lucky to live near a metro area with a regular large show. It's so great to see and stay in touch with friends from all across the country. A wonderful whirlwind of numismatic fellowship. 'Til next time.
A hoard of WWII-era Japanese ceramic coins has been found in a warehouse in Kyoto. -Garrett
Shofu Inc., a dental equipment manufacturer, found 15 wooden boxes filled with small pottery discs in a warehouse of Kyoto in August 2023, the Japanese outlet The Mainichi reported on Oct. 21.
The Japan Mint identified the unusual discs as a rare type of WWII currency known as "phantom" coins, according to an Oct. 18 Facebook post. Photos show the reddish brown coins.
"Phantom" coins or "phantom" currency are an unusual type of Japanese Yen coin made of ceramic during the metal shortages of WWII, according to an FAQ page from the Japan Mint. Mass production of these coins began in July 1945 but stopped roughly a month later due to the end of the war. The ceramic coins were never issued but were destroyed instead, leading to their ghostly nickname.
In total, about 15 million ceramic coins were made, mint officials said in a news release. The recently rediscovered boxes likely contain over 500,000 of these coins.
Close-up photos show the ceramic coin, adorned with Mount Fuji on one side and a cherry blossom on the other, Asahi Shimbun, another Japanese outlet, reported.
The "phantom" coins were found "on the site of the former Shofu Industries, which was responsible for manufacturing the coins," the Mainichi reported. Mint officials said the manufacturing company dissolved in 1967.
World War II Remembered co-author Joe Boling writes:
"Kazuya Fujita (retired geology prof at Michigan State) had already picked this up on the Japan Mint website and sent it to me.
"That particular clay coin was available in bags full 20-30 years ago. It is by far the most common of them. There are many other patterns in white and chocolate colors (most of the ones in the open box in the article are NOT the bright red-orange that most of them were, and that was seen in the close-up shot in this article). You don't see many of them any more."
Great story. Len Augsburger and Ed Hohertz passed along the Miami Herald article. Frank Draskovic passed along an Archaeology Magazine piece. Len reached out to Joe Boling for his comments. Thanks, everyone! -Editor
To read the complete articles, see:
‘Phantom' coins — believed to be destroyed after WWII — found in warehouse in Japan
(https://www.miamiherald.com/news/nation-world/world/article295377349.html)
500,000 WWII ‘phantom' ceramic coins discovered in Kyoto warehouse
(https://archaeologymag.com/2024/11/wwii-ceramic-coins-discovered-in-kyoto/)
Hidden Treasure from WWII: 500,000 Phantom Ceramic Coins Found
(https://arkeonews.net/hidden-treasure-from-wwii-500000-phantom-ceramic-coins-found/)
In this blog post, economist JP Koning discusses the practice of banknote cutting in Finland, required by the government to avoid rampant inflation. Due to wartime price controls and rationing, Finns had significant forced savings. Production of consumer goods was also low because of militarization and the bombing of factories. The combination of these factors would lead to large-scale inflation once Finns spent this money. -Garrett
On the last day of 1945, with World War II finally behind it, Finland's government announced a new and very strange policy.
All Finns were required to take out a pair of scissors and snip their banknotes in half. This was known in Finland as setelinleikkaus, or banknote cutting. Anyone who owned any of the three largest denomination Finnish banknotes — the 5000 markka note, the 1000, or the 500 — was required to perform this operation immediately. The left side of the note could still be used to buy things, but at only half its value. So if a Finn had a 1000 markka note in their wallet, henceforth he or she could now only buy 500 markka worth of items at stores. As for the right side, it could no longer be spent and effectively became a bond (more on this later).
Setelinleikkaus was Finland's particular response to the post-War European problem of "monetary overhang," described in a 1990 paper by economists Rudi Dornbusch and Holger Wolf. After many years of war production, price controls, and rationing, European citizens had built-up a substantial chest of forced savings, or involuntary postponed consumption, as Dornbusch & Wolf refer to it. With WWII now over, Europeans would soon want to begin living as they had before, spending the balances they had accumulated on goods and services. Alas, with most factories having been configured to military purposes or having been bombed into dust, there wasn't nearly enough consumption items to make everyone happy.
It was plain to governments all across Europe what this sudden making-up of postponed consumption in a war-focused economy would lead to: a big one time jump in prices.
This may sound familiar to the modern day reader, since we just went through our own wartime economy of sorts: the 2020-21 battle against COVID and subsequent return to a peacetime economy. The supply chain problem caused by the COVID shutdowns combined with the big jump in spending as lockdowns expired, spurred on by a big overhang of unspent COVID support cheques, led to the steepest inflation in decades.
According to Dornbusch and Wolf, European authorities fretted that the post-WWII jump in prices could very well spiral into something worse: all-out hyperinflation, as had happened after the first World War. Currencies were no longer linked to gold, after all, having lost that tether when the war started, or earlier, in response to the Great Depression.
To prevent what they saw as imminent hyperinflation, almost all European countries began to enact monetary reforms. Finland's own unique reform — obliging their citizens to cut their stash of banknotes in two — would reduce the economy's stock of banknotes to just "lefts," thereby halving spending power and muting the wave of post-wartime spending. After February 16, 1946 the halves would be demonetized, but until then the Finns could continue to make purchases with them or bring them to the nearest bank to be converted into a new edition of the currency.
As for the right halves, they were to be transformed into a long-term investment. Finns were obligated to bring each right half in to be registered, upon which it would be converted into a Finnish government bond that paid 2% interest per year, to be repaid four years later, in 1949. It was illegal to try and spend right halves or transfer their ownership to anyone else (although it's not apparent how this was enforced).
In theory, turning right halves into bonds would shift a large part of the Finnish public's post-war consumption intentions forward to 1949, when the bonds could finally be cashed. By then, the economy would have fully transitioned back to a civilian one and would be capable of accepting everyone's desired consumption spending without hyperinflation occurring.
To our modern sensibilities, this is a wildly invasive policy. Had setelinleikkaus been proposed in 2022-23 as a way to dampen the inflationary effects of the reopening of COVID-wracked economies, and we all had to cut our dollar bills or yen or euros in half, there probably would have been a revolt.
With the benefit of hindsight, we know that setelinleikkaus didn't work very well. Finland continued to suffer from high inflation in the years after the war, much more so than most European countries did.
Why the failure? As Finish economist Matti Viren has pointed out, the reform only affected banknotes, not bank deposits. This stock of notes only comprised 8% of the total Finnish money supply, (Finns being uncommonly comfortable with banks) so a major chunk of the monetary overhang was left in place.
Another glitch appears to have been the public's anticipation of setelinleikkaus. According to former central banker Antti Heinonen, who wrote an entire book on the subject, banks began to advertise their services as a way to avoid the dangers of the upcoming monetary reform (see images below). So Finns deposited their cash prior to the final date, the monetary overhang to some degree evading the blockade.
In the rest of the blog post, Koning discusses the more successful policies of other countries. In particular, Belgium contracted its entire money supply by two thirds in October, 1944, and the Netherlands followed a similar policy the following year. This is in stark contrast to our current means of dealing with inflation by increasing interest rates, which is a relatively new phenomenon. Belgium's policy, called Operation Gutt, did not cause an immediate fall in prices, but in the long run, it made Belgian inflation much lower than that of Finland, whose central bank barely mentions banknote cutting on their website. -Garrett
To read the complete article, see:
Setelinleikkaus: When Finns snipped their cash in half to curb inflation
(https://jpkoning.blogspot.com/2024/11/setelinleikkaus-when-finns-snipped.html)
Here are some additional items in the media this week that may be of interest. -Editor
With the connection of numismatics to money, commerce, manufacturing, art, politics and more, it's not surprising (to a well-read numismatist, anyway) that numismatic connections can appear almost anywhere. How about it the common phrase "Costs an Arm and a Leg"? -Editor
When you say something "costs an arm and a leg," you're implying that the item is prohibitively expensive. But why do we reference those body parts instead of, say, "an ear and an eye" or "a toe and a tongue"? The idiom's origins are somewhat murky, and one of the earliest uses comes without much context. In 1576, an English translation of a Philippe de Mornay work about life and death made mention of how long and tedious actions may come "at the cost of an arme or a leg." The topic of the work implies the initial definition was more literal, and it had less to do with finances.
Another, albeit possibly apocryphal, theory dates back to 1680, when England's Charles II asked Sir Thomas Armstrong and Colonel George Legge to manufacture regal coinage for use in the Irish colony. This aspect of the story is historical fact, but it's an unconfirmed rumor that people would colloquially say that an item with a purchase price of a halfpenny "cost an Arm and a Legge," referring to the surnames of the two men who produced the coins. This is in no way verified, though it's one of the more widely professed origin stories behind the idiom.
To read the complete article, see:
Why Do We Say "Costs an Arm and a Leg"?
(https://wordsmarts.com/costs-arm-leg/)
This PCGS article by Joshua McMorrow-Hernandez discusses the 1925 Canadian cent. I've always liked this design. -Editor
Canadian small cent production in the mid-1920s was anything but prolific, thanks to economic malaise and the plentiful supply of earlier cents on hand already. This led to the run of Canada small cents from 1922 through 1927 seeing mintages of well under four million, and several of these dates recorded fewer than two million strikes. The lowest-mintage of the six dates here is the 1925, which saw just barely over one million coins – 1,000,652, to be precise. While most collectors may stop short of calling the 1925 Canada cent a "rarity" in the absolute sense, it is by every measure no less a semi-key coin. That's certainly so when looking at that coin among the whole of the Canada small cent series, which ran from 1920 through 2012.
The 1920s Canadian cents on the whole look like a numismatic relic from another era, with their stately bust portrait of early 20th-century British monarch King George V. The reverse offers a rather simple device with the denomination "ONE CENT" and legend "CANADA" nestled in the center of the canvas amid two small maple leaves.
To read the complete article, see:
The Scarce 1925 Canada Cent
(https://www.pcgs.com/news/the-scarce-1925-canada-cent)
Leon Saryan passed along this History Facts piece about the origins of money. Thanks. -Editor
We often take for granted the process of shelling out cash for food at the grocery store, setting aside regular amounts for the mortgage or rent, or spending a few extra bucks on a new shirt or shoes. These are the hallmarks of modern living — but they haven't always been.
Humans have been around for about 300,000 years, began banding together in settlements some 12,000 years ago, and set the foundations of major civilizations 5,500 years ago. So when did the all-encompassing presence of money enter the equation?
However it was introduced, ancient money generally fulfilled a few major guidelines: It served as a unit of exchange, represented a measure of value, enabled the payment of debts, and could be accumulated as a wealth reserve. Prior to the existence of metallic coins and (far later) paper cash, this meant the use of a wide array of items that fulfilled some combination of practical and ornamental function.
To read the complete article, see:
When Did People Start Using Money?
(https://historyfacts.com/science-industry/article/when-did-people-start-using-money/)
Police departments have issued warnings about finding cash, urging people to just keep walking and not to touch it.
The Lane County Sheriff's Office in Kansas was one that sent out a warning to residents after an incident there. They posted on Facebook, "In recent years, there have been numerous reports of people discovering folded one dollar bills that contain illegal and potentially dangerous drugs. While using folded money or paper to transport drugs has long been a common practice, the emergence of substances like Fentanyl has made it exceptionally hazardous." The post continued, "Earlier this afternoon, a citizen contacted the on-duty Deputy to report that they had found a folded one dollar bill in their yard. Upon unfolding it, a white substance spilled out. The bill was confiscated and field tested positive for Methamphetamine. Further field tests for Opiates and Fentanyl were negative."
The post concluded, "It is important to remain vigilant about potential hazards in your surroundings."
To read the complete article, see:
If You See A Folded Dollar Bill On The Ground, Do Not Pick It Up
(https://www.iheart.com/content/2024-11-13-if-you-see-a-folded-dollar-bill-on-the-ground-do-not-pick-it-up/)
This report was from Kansas. We discussed a similar report from Tennessee in 2022. -Editor
To read the earlier E-Sylum article, see:
LOOSE CHANGE: JUNE 19, 2022 : Folded $1 Bill Danger
(https://www.coinbooks.org/v25/esylum_v25n25a34.html)
We've discussed this topic before, and the situation continues to worsen. What are readers experiencing? -Editor
Good luck getting a safe-deposit box.
Longtime deposit-box renters are getting kicked out of their boxes by banks that are shutting down or scaling back the service. Customers say they have been struggling to find the small boxes traditionally kept inside vaults to store family heirlooms and other valuables.
Kris Wall called 13 branches around the San Francisco Bay Area over the past 18 months, and visited another six or seven, in her unsuccessful search for new boxes. The 49-year-old gemologist and jeweler uses them to store her work, but was told to vacate her extra-large box at a First Republic branch last year.
A decade ago, she got on a wait list at one bank that said it expected an opening in nine years. It never called. She recently learned the bank got rid of deposit boxes completely.
"It's literally going the way of landlines," Wall said.
To some banks, the boxes are becoming more trouble than they are worth. Banks say the service is an anachronism in a time when people increasingly manage their checking accounts and investments on apps and websites.
Yet safe-deposit box customers—who tend to be affluent and middle-aged or older—see them as a bread-and-butter bank service. They stash important paper documents in them, such as the title to a house or car, as well as family heirlooms like jewelry and coin collections.
There is no official tally of boxes, and estimates vary. Jerry Pluard, co-founder of Safe Deposit Box Insurance Coverage, said there are about 20% fewer than the 40 million safe-deposit boxes that existed six years ago.
As banks get out of this business, some independent companies sense an opportunity. BlueVault operates two private vaults in California with safe-deposit boxes. It is planning to open locations in Texas and Arizona. Jon Sandhaus, who runs the company, said that about a quarter of the people who open boxes do it because their banks don't have any available. "We get calls daily: ‘They're shutting down my branch,'" he said.
To read the complete article, see:
No One Can Find Safe-Deposit Boxes Anymore
(https://www.wsj.com/personal-finance/savings/no-one-can-find-safe-deposit-boxes-anymore-0bfccf88)
To read the earlier E-Sylum article, see:
NON-BANK FIRMS OFFER SAFE DEPOSIT SERVICES
(https://www.coinbooks.org/v22/esylum_v22n47a26.html)
The E-Sylum is brought to you by a happy bunch of energetic gnumismatic gnomes working 364 days a year, taking Christmas off to help Santa. Here's the merry band.
Pete Smith interjects:
"Correction: Since this is a leap year, the gnumismatic gnomes get to work 365 days."
Leap Day is a holiday. Slackers.... -Editor
Wayne Homren
Wayne Homren is the founding editor of The E-Sylum and a consultant for the Newman Numismatic Portal. His collecting interests at various times included U.S. Encased Postage Stamps, merchant counterstamps, Pittsburgh Obsolete paper money, Civil War tokens and scrip, Carnegie Hero Medals, charge coins and numismatic literature. He also collects and has given presentations on the work of Money Artist J.S.G. Boggs. In the non-numismatic world he's worked in artificial intelligence, data science, and as a Program Manager for the U.S. Department of Defense.
Garrett Ziss
Garrett Ziss is a numismatic collector and researcher, with a focus on American paper money and early U.S. silver and copper coins. He is also a part-time U.S. coin cataloger for Heritage Auctions. Garrett assists Editor Wayne Homren by editing and formatting a selection of articles and images each week. When he's not engaged in numismatics, Garrett is a Senior Honors student at the University of Pittsburgh.
Pete Smith
Numismatic researcher and author Pete Smith of Minnesota has written about early American coppers, Vermont coinage, numismatic literature, tokens and medals, the history of the U.S. Mint and much more. Author of American Numismatic Biographies, he contributes original articles to The E-Sylum often highlighting interesting figures in American numismatic history.
Greg Bennick
Greg Bennick (www.gregbennick.com) is a keynote speaker and long time coin collector with a focus on major mint error coins. Have ideas for other interviewees? Contact him anytime on the web or via instagram
@minterrors.
John Nebel
Numismatist, photographer, and ANS Board member and Fellow John Nebel of Boulder, CO helped the ANA and other clubs like NBS get online in the early days of the internet, hosting websites gratis through his Computer Systems Design Co. To this day he hosts some 50 ANA member club sites along with our
coinbooks.org site, making the club and our E-Sylum archive available to collectors and researchers worldwide.
Bruce Perdue
Encased coinage collector (encasedcoins.info) Bruce Perdue of Aurora, Illinois has been the volunteer NBS webmaster from its early days and works each week to add the latest E-Sylum issue to our archive and send out the email announcement.