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

 

Content presented in The E-Sylum is not necessarily researched or independently fact-checked, and views expressed do not necessarily represent those of the Numismatic Bibliomania Society.

WAYNE'S WORDS: THE E-SYLUM APRIL 20, 2025

New subscribers this week include: Bill McCloskey and Jeff Peterson, courtesy Wayne Davis. Welcome aboard! We now have 7,257 subscribers.

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

This week we open with one new periodical issue, two obituaries, an update from the Newman Numismatic Portal, notes from readers, a conference announcement, and more.

Other topics this week include the 1870 James B. Longacre sale, Bank of Canada Museum acquisitions, replicas, Charles W. Foster, fixed price and auction items, my numismatic diary, Maundy coinage, casino chips, the Frick medal gallery, and merchant scrip.

To learn more about Kakatiya gold coins, George Marlier, selling Jack Freidberg's Brasher Doubloon, Puerto Rico's provincial pesos, RIO 2025, the Botetourt medal, the Noah's Ark medal, the Rights of Men token, the Duck Room, Admiral George Dewey tokens, Dynamic Regional Sector Agricultural Productivity manhole covers medals, The Connecticut Collection, banknotes of the 1837 Upper Canada Rebellion, and the Money Laundering Lounge, read on. Have a great week, everyone!

Wayne Homren
Editor, The E-Sylum

 

ORIENTAL NUMISMATIC SOCIETY SPRING 2025

Journal of the Oriental Numismatic Society
259 Spring 2025

Editorial
Paula Turner

A new date for an autonomous bronze from Seleukeia on the Tigris
Michael J.

Baijin sanpin: a special set of coins issued by Emperor Wudi of the Han Dynasty
Zhang Ruiqi

Some novel coins from Central Asia
Shinji Hirano

Coins of Jassaka Deva of the Vuppadeva dynasty of Kashmir: an enigma
Gul Rahim Khan and Aman ur Rahman

Kakatiya gold coins
Deme Raja Reddy

A small Samanid dirham hoard from Kaarina, Finland Proper
Jani Oravisjärvi

A fascinating variant of an Almoravid dinar struck in AH 536 in Madinat Fas
Ludovic Liétard

Rama tankas: collecting a coin-shaped Hindu epic
Heinz Bons

Imperial seals at the Punjab Government Archives, Lahore
Jeevandeep Singh

For more information, see:
https://www.orientalnumismaticsociety.org/

RICHARD GAETANO (1936-2025)

Richard Gaetano, 88, passed away on April 13, 2025

Richard is survived by his loving children Lori (Russ) Reich, Rick (the late Lynn) Gaetano, and Rob (Maria) Gaetano. Grandfather of Dominick Gaetano, Marcus Gaetano, Alex Reich, Brian Reich, Max Gaetano. Richard is also survived by extended family and friends.

Richard was a member of numerous organizations through out the area. He was preceded in death by Parents Anthony and Helen Gaetano

 

Malcolm Johnson writes:

Chick Ambrass writes:

American Numismatic Association President Tom Uram writes:

To read the complete obituary, see:
Richard Gaetano Birth date:Jun 1, 1936 - Death date: Apr 13, 2025 (https://www.jeffersonmemorial.com/obituaries/richard-gaetano/obituary)

To read the earlier E-Sylum articles, see:
PAPER BOYS AND NUMISMATICS (https://coinbooks.org/esylum_v09n28a30.html)
WAYNE'S NUMISMATIC DIARY: APRIL 7, 2019 : (https://www.coinbooks.org/v22/esylum_v22n14a21.html)
WAYNE'S NUMISMATIC DIARY: OCTOBER 26, 2014 : Kevin Flynn and Coin Collecting (https://www.coinbooks.org/esylum_v17n44a26.html)
MORE COIN SHOP TALES (https://www.coinbooks.org/esylum_v19n41a13.html)

 

DENNIS JOSEPH FORGUE (1944-2025)

Dennis J. Forgue of Westchester, Illinois, a Chicago suburb, passed away peacefully April 12th after a lengthy illness. He was 80 years of age. He was surrounded by family and was comfortable in his final days. He will be sorely missed by all who knew him.

Mr. Forgue is survived by his brother Robert; his sister Holly (Jim) Cerny; his daughter Melissa Forgue-Heerboth and her three children: Christopher, Daniel and Aidan; and his son Martin (Debby) and their four children: Samantha, Thomas, Ella and Nicolas. Dennis was also a loving uncle to many nieces and nephews. He was preceded in death by his brother Vernon and his beloved wife Marcia Ann.

Mr. Forgue spent his childhood in central Illinois, while his father was working for the State of Illinois in Springfield, before the family moved to the Chicago area. He graduated from Proviso High School in Maywood and then attended Southern Illinois University in Carbondale where he received a B.A. degree in U.S. History in 1966.

He began studies at Northwestern University School of Law and the John Marshall Law School but, after a short time, decided to pursue a career in professional numismatics (the hobby and business of rare coins and currency). An offer was made to him to join the prestigious firm of Rare Coin Company of America (Rarcoa) located in downtown Chicago, and he eventually became an officer of the company. After being employed there for more than a decade, he launched his own business and then worked for Harlan J. Berk, Ltd. at the same Chicago address that was previously occupied by Rarcoa. He held a position with that firm for a quarter century and retired in 2019 after more than 50 years in the profession.

Although he was extremely knowledgeable about United States and Foreign Coins, his specialty was rare United States Currency, a field in which he was recognized as a highly regard-ed and distinguished expert. He was a 50-year member of the Professional Numismatists Guild, receiving their Sol Kaplan Award in 1979 for his consumer protection work in the numismatic marketplace. He was also a charter member and past President of the Professional Currency Dealers Association, a more than 50-year member of the American Numismatic Association, Central States Numismatic Society, American Numismatic Society, Society of Paper Money Collectors, Token and Medals Society, the Manuscript Society, and many others.

Mr. Forgue was a long-time member and supporter of the Chicago Zoological Society and Brookfield Zoo and was particularly fond of their animal care and conservation projects. In the summer of 2018 he accompanied a group, sponsored by the zoo, on a wildlife tour of Kenya and said about that trip that he had "the time of his life!"

To read the complete article, see:
Dennis Joseph Forgue (https://www.hursen.com/obituary/dennis-forgue)

Julian Leidman writes:

Tom DeLorey writes:

To read the earlier E-Sylum articles, see:
ROYAL MINT COIN SCULPTURES (https://www.coinbooks.org/v23/esylum_v23n20a44.html)
MORE ON WILLIAM A. PETTIT (https://www.coinbooks.org/v21/esylum_v21n51a09.html)
NOTES FROM E-SYLUM READERS: JUNE 18, 2017 : More the Medal of Honor (https://www.coinbooks.org/v20/esylum_v20n25a09.html)
NOTES FROM E-SYLUM READERS: SEPTEMBER 10, 2017 : The Auction '79 Brasher Doubloon Sale (https://coinbooks.org/v20/esylum_v20n37a14.html)
NOTES FROM E-SYLUM READERS: FEBRUARY 18, 2018 : Found in Books (https://www.coinbooks.org/v21/club_nbs_esylum_v21n07.html)

THE 1870 JAMES B. LONGACRE SALE

The 1870 James B. Longacre Sale

Of all the Chief Engravers of the Mint, Longacre was the best archivist, putting aside extensive collections of both papers and coins. The papers are today in the Library Company of Philadelphia and have been explored by Michael Moran and Jeff Garrett (1849: The Philadelphia Mint Strikes Gold) and others. To be sure, work remains, and the Library Company recently offered an internship to improve their catalog descriptions of the Longacre papers. The Library Company also holds an important group of pattern pieces from the Longacre estate, which have been published by John Dannreuther, Saul Teichman, and other writers.

However, the lion's share of the Longacre coins were sold by his estate in 1870. Presented by M. Thomas, the sale included 119 lots of U.S. patterns, in addition to an 1850 double eagle described as proof, and 56 lots of "composition casts, impressions of dies, steel plates, etc." It seems likely that surviving Longacre pieces (such as the 2023 Heritage Auctions example, pictured here) originate from this sale. Had this group survived as a whole, we would likely have greater insight into the evolution of the coinage and Mint medal designs of this period. Still, the Longacre estate is to be credited for preserving the material that today resides in the Library Company, the largest such group associated with a Mint Engraver.

Newman Portal features three copies of the Longacre sale catalog, including one recently discovered in the Newman library remainders. The three copies (two from the American Numismatic Society) are variously annotated with prices and names. The additional copies are accessible via the left column of the catalog landing page ("IAID 1" and "IAID 2").

Image: Longacre wax models featuring the Indian Princess and agricultural wreath designs (Heritage Auctions, February 9, 2023, lot 3669, realized $33,600).

Link to the M. Thomas sale catalog of the Longacre collection, January 21, 1870, on Newman Portal:
https://nnp.wustl.edu/library/auctionlots?AucCoId=511814&AuctionId=515574

NOTES FROM E-SYLUM READERS: APRIL 20, 2025

Lithographic Stones, Artist Joaquín Sorolla
Bill Eckberg writes:

To read the earlier E-Sylum articles, see:
WWII POLAND COUNTERFEITING PLATE FOUND (https://www.coinbooks.org/v28/esylum_v28n15a25.html)
HUNTINGTON COLLECTION TO BE SOLD AGAIN (https://www.coinbooks.org/v28/esylum_v28n15a22.html)

Huntington Collection To Be Sold Again NOT!
Jeff Starck writes:

Ed Hohertz writes:

To read the earlier E-Sylum article, see:
HUNTINGTON COLLECTION TO BE SOLD AGAIN (https://www.coinbooks.org/v28/esylum_v28n15a22.html)

On Tinted Photographs of Coins
Responding to Denis Richard's question, David Fanning writes:

Jim Neiswinter writes:

To read the earlier E-Sylum article, see:
NOTES FROM E-SYLUM READERS: APRIL 13, 2025 : Query: Hand-Coloured Black-and-White Coin Photos (https://www.coinbooks.org/v28/esylum_v28n15a08.html)

Provisional vs. Provincial
Regarding Ángel Navarro's article in the 2024 edition of the Numismatic Chronicle on Puerto Rico's provincial pesos and dollars, Joseph Zaffern writes:

Ángel Navarro writes:

To read the earlier E-Sylum article, see:
NEW ARTICLE: PUERTO RICO'S PROVINCIAL PESOS (https://www.coinbooks.org/v28/esylum_v28n13a03.html)

The Horning Collection
Brad Karoleff writes:

RIO 2025 OPEN FOR REGISTRATION

5th International Convention of Historians and Numismatists to be celebrated in Rio de Janeiro, Brazil, Sept. 2-6, 2025

The hosts and planning committees of the 5th International Convention of Historians and Numismatists—RIO2025—have announced that registration is now open for this year's congress, set to take place Sept. 2-6, in the spectacular historic city of Rio de Janeiro, Brazil.

Widely lauded as the most representative and prestigious gathering of Ibero-American numismatists and historians, the International Conventions of Historians and Numismatists were launched in 2016 in Potosi, Bolivia, and take place every two years. Potosi 2016 was followed by Arequipa 2018, Cartagena MMXXI, and Santo Domingo MMXXIII.

The 5th International Convention of Historians and Numismatists is being hosted by the Brazilian Numismatic Society (SNB), and organized by a committee helmed by the Society's president, Bruno Pellizzari and ICHN co-founder Daniel Oropeza Alba. A century-old non-profit institution founded in 1924, the SNB is dedicated to the promotion and development of numismatics and has a history of collaboration with cultural and academic institutions, organizing events of great relevance both in Brazil and internationally.

RIO2025 is set to bring together premier historians, numismatists, academics, minting companies, and auction companies from more than 30 countries, with the JW Marriott Hotel in Copacabana serving as the main base of events. Featuring a diverse agenda, attendees can attend lectures by national and international specialists, exhibitions, book launches, visits to museums and historical sites, as well as formal and informal social events. In addition, RIO2025 will feature thematic round tables, institutional presentations, specialized workshops and spaces for academic exchange between researchers, collectors and professionals in the sector.

Known as Cidade Maravilhosa, the "Marvelous City," Rio de Janeiro has been recognized as a World Heritage Cultural Site by UNESCO for its rich history and cultural heritage.

Amongst a "Who's Who" of eminent international sponsors, RIO2025 is sponsored in part by U.S. entities Heritage Auctions, Sedwick & Associates, and Stacks Bowers.

To register and stay abreast of event schedules and details, hotel links, and a complete list of sponsors, visit the RIO2025 website at https://www.rio2025.com.br/. Information and updates can also be found on the RIO2025 Facebook page. For people traveling from North America, questions can be emailed to Augi Garcia, RIO2025 Vice President for the United States, at augi@sedwickcoins.com; all others email: rio2025@snb.org.br.

BANK OF CANADA MUSEUM ACQUISITIONS

Each year the Museum receives dozens of offers from the public to donate or sell objects to the National Currency Collection. Add to that the ever-growing list of objects the curators bring to the acquisition committee's attention to develop the collection. Yet beyond the donations and purchases, items that are otherwise restricted from public ownership can be obtained only from the organizations that are responsible for their manufacture or their seizure. Therefore, it is important for the Museum to have relationships with these organizations.

Royal Canadian Mint

As the producer and distributor of Canada's coins, the Royal Canadian Mint maintains a strong relationship with the Museum. Over the years, the Mint has transferred its holdings of production tools to the Museum to preserve the Mint's legacy as a leading organization in coin production. The process of minting coins has evolved. Fortunately, the National Currency Collection includes objects that showcase many of the Mint's important milestones. In 2024, the Mint transferred hundreds of master dies and punches to the Museum for long-term preservation and public appreciation.

The Rooms

The Museum also maintains relationships with other cultural institutions through long-term loan agreements. Sometimes these loans become permanent. Earlier this year, The Rooms in St. John's officially transferred a sheet of Government of Newfoundland treasury notes from its collection to the Museum. Issued in 1850, the £1 notes were among the first examples of paper money to circulate in Newfoundland. They were printed in sheets of four notes, numbered by hand and signed by two commissioners. Today, early Newfoundland notes are very rare. This sheet had been on loan to the Museum since 1974. Though the exact purpose of the original loan is undocumented, it was likely intended to exhibit this unique item in the new Bank of Canada Currency Museum, which was in planning as part of the expansion of the Bank's head office in the mid-1970s. Sheldon Carroll, a former curator of the National Currency Collection, would likely have negotiated the loan from The Rooms through prominent Newfoundland numismatist C. Francis Rowe, who by profession was a meteorologist at St. John's International Airport. Over time, the terms of the loan expired and were never updated until The Rooms contacted the Museum to inquire about the sheet of notes.

And there's always a steady stream of acquisitions from the public

Beyond the items acquired from our institutional partners, the National Currency Collection continues to grow each year thanks to public donations and private purchases. Here are some more treasures acquired in 2024.

"Everyone is going to have their own interests, but the most interesting things listed in the blog post for me are the hundreds of Royal Canadian Mint master dies," Lipson said. "These dies are used to strike circulation and non-circulating collector coins."

"The transfer that we got from the Royal Canadian Mint was a very important acquisition," Bergeron said. "Because it contains hundreds of working dies and things related to the production of money. The dies themselves are all unique."

To read the complete article, see:
New Acquisitions - 2024 Edition (https://www.bankofcanadamuseum.ca/2025/02/new-acquisitions-2024-edition/)

 

VOCABULARY TERM: REPLICA

Replica. A copy of a numismatic or medallic item, similar to but differing somewhat from the original piece. A replica is a copy and while the terms are not that precise in their difference from each other, a replica is somewhat more liberal in its exact replication; a major portion of the original design must be used for the replica. Most replicas are made after the death of its original artist and the art work is in public domain.

While a copy is generally an exact duplication of the original (often with malicious intent), there exists a large body of replicas, most of which are highly legitimate and issued in good faith. A coin example would be the silver dollar bullion coin of 1986 which replicated Adolph Weinman's Liberty walking design of the 1916 half dollar.

Medal examples are more varied. All six medals made for the fledgling American states, authorized by Congress and struck in France before 1800, were replicated by the Philadelphia Mint and issued anew, even as late as 180 years after their first issue. The United States Diplomatic Medal, originally engraved by Augustin Dupre and struck in 1791, was among this group. It was reissued in 1876 (illustrated under the entry on reissue).

The Botetourt Medal, originally issued in England in 1772, and engraved by John Pingo, was given to students of William and Mary College in Virginia. It was so rare no description could be given by Betts in his work on American Colonial Medals (#528). In 1941 the College of William and Mary (who had one of the medals, of course) asked Medallic Art Company to replicate it. (It is discussed by Brown in his book, British Historical Medals, 1760-1960.)

In 1959, another medal by John Pingo was replicated and reissued. His Gibraltar Siege Medal of 1782 was struck by Medallic Art and issued by Prudential Insurance Company of America.

Other replica examples are illustrated under entries on contraposition (a replication of a Pasteur Medal) and after (a replication of a 200th anniversary medal for a 300th anniversary). Thousands of replica examples exist. See copies and replicas.

To read the complete entry on the Newman Numismatic Portal, see:
Replica (https://nnp.wustl.edu/library/dictionarydetail/516626)

See also:
Botetourt Medal (https://scrc-kb.libraries.wm.edu/botetourt-medal)
Botetourt Medal (https://en.wikipedia.org/wiki/Botetourt_Medal)

CHARLES WORCHESTER FOSTER (1907-1959)

Last week Charles Foster was mentioned in the article about Ray Williamson and M. W. Hanchett. This week Foster gets his turn for an article. In 1949, he made a bold prediction about Sheldon grading.

Foster was born at Monte Vista, Colorado, on May 16, 1907. He was the son of Charles Worchester Foster (1877-1918) and Anna Pearl Rankin Foster (1879-1928).

He was married in Monroe, New York, to Katherine Griswald Wallace (1907-1980). on April 5, 1928. They had a son and a daughter.

Foster joined the American Numismatic Association on June 1, 1930, as member 3723. He submitted a paper at the 1930 ANA Convention which was published in the December 1930 issue of The Numismatist. In 1931, Paul M. Lange of Rochester resigned as ANA Librarian. At the time the ANA cabinets were at the Rochester Museum. Charles W. Foster had been a member for less than a year when he was appointed to take Lange's place and served as Librarian and Curator from 1931 to 1937. He was also the librarian for the Rochester Numismatic Association. In 1947 he converted to ANA life membership as LM-171.

Foster was employed as an electrical engineer with Eastman Kodak Company and Stromberg Carlson. He retired about 1950.

In 1932 he assisted with the formation of the Syracuse Numismatic Association. He was a founder of the Empire State Numismatic Association, club secretary, past president, show promoter and newsletter editor. In 1961, they named their best-in-show exhibit award for Foster.

Foster served as president of the Rochester Numismatic Association in 1934. The RNA honored him with the 23rd in their series of annual medals. He made frequent presentations and exhibits at club meetings. In 1957 the club gave him an honorary life membership.

He was author of A Historical Arrangement of United States Commemorative Coins in 1936. Issue price was $1.00 and 5000 copies were published by the Rochester Museum of Arts and Sciences.

Foster can be added to the list of those who placed exhibits at public places. In 1943 he exhibited colonial paper money at a local bank. He also showed Civil War tokens and Confederate currency at the Brighton branch of the public library.

In 1944 he sent out Christmas cards with an image of an 1833 $5 note of Howard Banking Co, of Boston. It had a picture of Santa and reindeer. (Does any E-Sylum reader have an example to share?)

Foster conducted a mail auction on November 5, 1949. The first 395 lots were presented in traditional format. This was followed by an offering of United States large cents. The introduction included these comments:

Raymond H. Williamson mentioned the Foster sale in an article in Penny-Wise in 1981. He commented, "I am particularly aware of this one inasmuch as I did the cataloguing for Charles Foster." Thus the "prominent young Cent Collector" mentioned by Foster was forty days older than Foster.

During this time, Foster lived in Rushville, New York, (Population 465) and Williamson lived in Syracuse.

Foster suffered a heart attack around 1950 and retired from his regular job to become a coin dealer. He was known as "The Suitcase Dealer." He offered "Suitcase Specials" in his fixed price lists during 1950 to 1956 and ads in The Numismatist and The Numismatic Scrapbook Magazine.

Foster had an extensive collection of American coins, foreign coins and currency. This was included in the Federal Coin Exchange auction October 13, 1956. The second part of the sale, dated October 16 1956, featured the Foster collection. Some of the items I noted were an uncirculated Washington Roman Head cent, a gold Norse-American medal, a high-grade U. S. type set, his reference collection of Lesher dollars, lots 1230 through 1287 and Bryan Money lots 1304 through lot 1378.

Foster died at home on December 26, 1959. He is buried with his wife at Overackers Cemetery in Middlesex, New York.

Charles William Foster, Jr. (1828-1904) was Governor of Ohio 1880 to 1884 and U. S. Secretary of the Treasury 1893 to 1894. He was the great-great grandson of Ebenezer Foster (1710-1769). Charles Worchester Foster (1907-1959), the coin dealer, was the great-great-great-great grandson of Ebenezer Foster (1710-1769). Where else but The E-Sylum could you get that obscure piece of numismatic trivia?

To read the earlier E-Sylum article, see:
MILTON WALDO HANCHETT (1822-1904) (https://www.coinbooks.org/v28/esylum_v28n15a15.html)

 

ATLAS NUMISMATICS SELECTIONS: APRIL 20, 2025

1081581 | ROMAN IMPERIAL. Tiberius. (Emperor, 14-37 AD). Struck 14-37 AD. AV Aureus. NGC AU (About Uncirculated) Strike 5/5 Surface 4/5. Lugdunum. 7.80gm. TI CAESAR DIVI AVG F AVGVSTVS. Head of Tiberius, laureate, right / PONTIF MAXIM. Livia as Pax, draped, right, seated, right holding branch and inverted spear, on chair with ornamented legs; below chair a single line: woman's feet rest on foot-stool left. RIC I, 29; Cohen 15; BMC 46; BMC 39; Calicó 305.

$13,950

To read the complete item description, see:
Attractive Tiberius Aureus (https://atlasnumismatics.com/1081581)

1082219 | COLOMBIA. Charles IV. 1802-NR JJ AV 8 Escudos. NGC MS65. CAROL · IIII · D · G · HISP · ET IND · R ·. Uniformed bust right / IN · UTROQ · FELIX · AUSPICE · DEO ·. Crowned arms within Order chain. KM 62.2; Fr.-51. Currently the finest known at NGC as of March 2025.

$34,500

To read the complete item description, see:
Exceptional Charles IV 8 Escudos (https://atlasnumismatics.com/1082219)

1082167 | GERMANY - EMPIRE. Wilhelm I. 1877-C AR 50 Pfennig. PCGS MS66 Mint Error. Frankfurt am Main. 2.78gm. Denomination / Large eagle with arms on breast. KM 8; Jaeger 8; AKS-4; Schön 8. Reverse die cap mint error.

$2,250

To read the complete item description, see:
Unusual Die Cap Error (https://atlasnumismatics.com/1082167)

1081698 | GREAT BRITAIN. Middlesex, Newgate. 1796 AE Halfpenny Token. NGC MS65BN (Brown). Edge: Plain. NOTED ADVOCATES FOR THE RIGHTS OF MEN. Three men hanging on gibbet / NEWGATE/ 1795. View of prison with square tower (date). D&H 397. Please use this link to verify the NGC certification number 3588787001. Popular type with a connection to the American Revolution with reference to Thomas Paine, enlightenment advocates and author of 'Common Sense" and 'Rights of Man'.

$2,495

To read the complete item description, see:
Gem "The Rights of Men" Token (https://atlasnumismatics.com/1081698)

1081894 | INDIA-BRITISH. Bombay Presidency. East India Company. AH1215//46 (1832-35) AR VIP Proof Rupee. PCGS PR67. Surat. Edge: Plain. "In the name of Shah Alam II". Persian inscription, couplet / Persian-julus (formula). KM 221. Proof; Pridmore 287. PCGS certification number 26375525.

From a complete set offered by Baldwin's Auctions Ltd (Auction 7, 29 September 2011, Lot 1489) where there described as follows: Despite Pridmore's reference to other set(s) being known or reported to him, the cataloguer has no record of another set having been offered. It is safe to presume this flawless set is of great rarity.

$16,950

To read the complete item description, see:
Bombay Presidency Proof Rupee (https://atlasnumismatics.com/1081894)

1081417 | ITALIAN STATES. Livorno. Cosimo III de'Medici. (Grand Duke, 1670-1723).1717 AV Pezza d'Oro della Rosa. PCGS MS63. Florence. 6.93gm. COSMVS · III · D · G · M · DVX.... Crowned arms of Medici / GRATIA · OBVIA · VLTIO.... Rosebush. KM 40; Friedberg 466; CNI 8; Galeotti XXXVI, 2; MIR 69.

$22,500

To read the complete item description, see:
Choice Mint State Pezza d'Oro della Rosa (https://atlasnumismatics.com/1081417)

Updates to their online inventory are issued monthly.

For more information and to sign up for the firm's monthly newsletter, visit:
atlasnumismatics.com.

NUMISMAGRAM MEDAL SELECTIONS: APRIL 20, 2025

103046 | GERMANY. Silesia. Noah's Ark silver Medal. Issued circa 1736. On the desire for an end to famine (33mm, 7.31 g, 12h). By Johann Leonhard Oexlein in Nürnberg. BEFIEHL DEM HERRN DEINE WEGE (surrender yourself to the Lord...), Noah's Ark facing right upon the water; above, dove flying left, with olive branch in beak; in two lines in exergue, UND HOFFE / AUF IHN (...and place your hope in Him...) // ER WIRDS WOHL MACHEN (...for He will do it), seven worshipers on their knees in act of prayer; lighted altar between them; rainbow arcing across the sky above; representation of an ark (alluding to Noah's Ark atop Mt. Ararat) upon hill in background to right. Edge: Plain. F&S 4240; Erlanger 2751; GPH 1189. Almost Uncirculated Details. Darkly toned nearer the peripheries and around the devices, with a good deal of brilliance remaining, though some subtle graffiti is noted upon each side, and accounts for the designation. Nevertheless, a charming religious type, and one that is very rare in this larger format, essentially double the size of those which we have offered in the past. $365.

To read the complete item description, see:
103046 | GERMANY. Silesia. Noah's Ark silver Medal. (https://www.numismagram.com/product-page/103046)

102825 | ITALY & BRITISH EAST INDIES. Pope Leo XIII silver Medal. Issued Year XVII (1894/5). On the founding of the Papal Seminary in British India at Kandy (43mm, 36.38 g, 12h). By Francesco Bianchi at the Rome mint. LEO XIII PONT MAX AN XVII, bust left, wearing zucchetto, mantum, and pallium // FILII TVI INDIA ADMINISTRI TIBI SALVTIS (your own sons, India, will be the heralds of your salvation), female personification of the Catholic Church seated right, holding cross and observing St. Francis Xavier (Francisco de Jasso y Azpilicueta), who instructs two natives; façade of the seminary in background; in two lines in exergue, XAVERIO • AVSPICE / ET • PATRONO. Edge: Plain. Bartolotti E894; Rinaldi 88. PCGS SP-62. Richly lustrous and vibrant, with some iridescence nearer the edges. An interesting papal issue with a strong East Asian connection. $395.

To read the complete item description, see:
102825 | ITALY & BRITISH EAST INDIES. Pope Leo XIII silver Medal. (https://www.numismagram.com/product-page/102825)

103069 | GERMANY & UNITED STATES. U-Boats in America cast bronze Medal. Dated 1916. "Ränkeschmiede bei der Arbeit"—on the media controversy surrounding the submarine war and the role of the Reuters news agency (57mm, 63.37 g, 12h). By Karl Goetz in München. RÆNKE–SCHMIEDE BEI DER ARBEIT (provocateurs at work), Frenchman and Brit each with an arm around Uncle Sam (with the features of US president Woodrow Wilson), pointing out a u-boat at a distance to right; American flag in foreground to right // DEUTSCHE U BOOTE IN AMERIKA 7 OKT 1916, telegraph pole surmounted by janiform head with caricatured, antisemitic features, and from which wires curl in stylized letter forms of "D" and "B" (for Deutsche Boote) and "Reuter Gezeter" (for the Reuter clamor). Edge: Plain. Kienast 185. Mint State. Olive-brown surfaces. A rarer type that captures the caricatured and sometimes quite demeaning aspect of those who draw the ire of Goetz. In this instance, the Jewish-founded Reuters new agency for which Goetz feels sensationalized the German u-boat. Compare to a similar example, graded NGC MS-64, which realized a total of $840 in Heritage's showcase auction 61366, lot 23122. $595.

To read the complete item description, see:
103069 | GERMANY & UNITED STATES. U-Boats in America cast bronze Medal. (https://www.numismagram.com/product-page/103069)

103144 | GREAT BRITAIN & SWEDEN. "Save Our Earth Air Water" cast bronze Medal. Issued 1990 (96mm, 592.9 g, 12h). By Berndt Helleberg for the British Art Medal Society. Abstract male figure advancing left, chasing after another; rain pouring down; in two lines below, SAVE OUR / AIR EARTH WATER // Abstract image of sea life. Edge: Plain. Attwood 73 & p. 29; "The Medal"19 (Autumn 1991), p. 116. As Made. Deep brown surfaces, with an intensely tactile nature. An extremely rare and provocative issue, with an output of just 15 pieces. Ex David Nicholas Silich Collection, Part II. $645.

To read the complete item description, see:
103144 | GREAT BRITAIN & SWEDEN. "Save Our Earth Air Water" cast bronze Medal. (https://www.numismagram.com/product-page/103144)

103127 | NETHERLANDS. "Vrouw in Raam" cast bronze Medal. Issued 1991. "Woman in the Window" (76mm, 388.4 g, 12h). By Fons Bemelmans for the Vereniging voor Penningkunst, and cast by the Bruining foundry in Haarlem. Bust of nude woman looking leftward out of open window; dove seated to her left // The same woman, seen from behind, while she looks out from the window. Edge: Plain. De Beeldenaar (1992-1), p. 28. Mint State. Deep brown surfaces, with some lighter, dusty green highlights and immense relief. Ex David B. Simpson Collection. $265.

To read the complete item description, see:
103127 | NETHERLANDS. "Vrouw in Raam" cast bronze Medal. (https://www.numismagram.com/product-page/103127)

STACK'S BOWERS SPRING 2025 MAASTRICHT SALE

Our Maastricht sale is now posted online, and printed catalogs are due to be mailed out shortly. This is a true collectors' sale, featuring an excellent selection of notes from around the world that ranges from modern high denominations to classic types in circulated grades. In this blog, we will take an in-depth look at the notes in the sale, which encompasses a traditional session on Thursday, May 9, and an internet-only session of the Windsor Collection of QE II paper money on Friday, May 10. All lots are available for viewing and presale bidding at StacksBowers.com.

First we will take a look at Bermuda. A popular collecting locale, the section is highlighted by the first offering of a ‘brown' 1941 5 Pounds, Pick-12, graded PMG Choice Uncirculated 63 by PMG, offered in lot 50040. This extremely short-lived issue confused the general public as the 5 Shillings also was brown. After a very limited issuance, it was withdrawn and replaced by an orange-colored version of the same design. Another highlight is lot 50048, the popular 1964 10 Pounds (Pick-22) in top grade, graded Superb Gem UNC 68 OPB by PCGS. This type was the highest denomination issued before the introduction of the Bermuda Dollar and the offered note features a desirable low 3-digit serial number. The final two lots of Bermuda we will take a closer look at are lots 50044 and 50045. Both are 1966 1 Pound notes, Pick-20d, graded Gem Uncirculated 66 EPQ. What makes these notes special are the solid serial numbers (5 and 8). Because of limited quantities printed (and the fact that the prefix changed every 100,000 notes), just 11 different prefixes are possible for this date. Two of them are offered in the sale, a tremendous opportunity for Bermuda or serial number specialists.

Among other highlights from the Americas is one of your author's favorite notes of the sale found in lot 50058. Dated 1928, this 2 Dollars from British Honduras (Pick-15) is graded Choice Very Fine 35 EPQ by PMG. A deceptively difficult type in any grade, finding it awarded with ‘Exceptional Paper Quality' is highly unusual. As one can expect, locating notes such as this in totally original condition is exceptionally challenging, and we expect spirited bidding for this example. Collectors of rarities will take note of lot 50446, a 1908 10 Pesos from Nicaragua, graded Choice Fine 15 by PMG. We have only offered this type once before, in well-circulated grade with myriad problems, but this is an evenly circulated, problem-free example of a type surely missing from even the most advanced collections of the country. Finally, for collectors of iconic world notes, there is a pair of Mona Lisa notes from Costa Rica, offered in lots 50098 and 50099, which are highlights of a robust Costa Rican section. The first is graded Choice Uncirculated 64 by PMG, while the second is graded Choice About Uncirculated 58 EPQ by PMG.

The sale has numerous advanced collections including the Damian Collection of Romania, (discussed in a previous blog). There is also an advanced collection from the Isle of Man, including lot 50328, a rare 1 Pound remainder from the Lancashire & Yorkshire Bank Limited, of which few notes are known to have survived. We also offer a select group of high-grade notes from the Italy Family Collection, including lot 50343, an attractive example of a 1960 Italy 5000 Lire (Pick-85c), graded PMG Gem Uncirculated 66 EPQ, perfect for an advanced type set. A dedicated session will take place the day after our main sale, where we offer the Windsor Collection of QEII Paper Money. Finally, this sale offers another installment of the Al Kugel Collection. Highlights include an advanced collection of Danzig, a small but select group of Russian notes, two more notes of what is arguably the best collection of the Deutsch-Asiatische Bank in China ever assembled, and four unissued notes from Egypt and Sudan printed for the Italian Occupation of those countries, also covered in a previous blog.

Finally, a few notes are worth mentioning because of how infrequently they are offered. Lot 50225 is a PCGS Gem Uncirculated 66 PPQ 50 Deutsche Mark from the German Federal Republic issued during currency reform in 1948 (Pick-10a), a key type from post-World War II Germany that is seldom offered in any grade. For collectors of India, lot 50262 presents a 1 Gold Mohur issued by the Bank of Bengal in 1816 (Pick-S24b) graded Very Fine 20 by PMG. While cancelled, it is noteworthy for not being severed and repaired, unlike virtually all examples we have seen. Finally, a mention needs to be made of lot 50612, a 1937 $100 issued by Barclays Bank (D.C.O) in Trinidad & Tobago graded Very Fine 25 by PMG. While this type is sometimes seen, this is the first time we have seen this date, which had a minuscule printing of just 1,500 notes.

With our preparations for the Spring 2025 Maastricht World Paper Money catalog completed, we are accepting consignments for future sales. We have been working hard to make sure that our auctions are the most collector-driven in the marketplace, assuring both stellar results for consignors and opportunities for buyers to acquire the notes they are looking for. Along with an ever-increasing client list and global news coverage attracted by our sales of the L. E. Bruun Collection, now could be the right time to sell your entire collection or duplicate pieces. To start the consignment process, don't hesitate to get in touch with Dennis Hengeveld at Dennis@stacksbowers.com or call 800-458-4646.

To read the complete article, see:
An In-Depth Look at the Upcoming Maastricht Sale (https://stacksbowers.com/an-in-depth-look-at-the-upcoming-maastricht-sale/)

 

WAYNE'S NUMISMATIC DIARY: APRIL 20, 2025

Tuesday, April 15 (Tax Day!) was also the monthly gathering of my Northern Virginia numismatic social group, Nummis Nova. Our host Robert Hoppensteadt chose Clyde's at Mark Center in Alexandria. I arrived a little early and caught up with texts and emails on my phone before heading inside. Our table wasn't ready yet and I joined the other earlybirds in the bar.

Eric Schena, Dave Schenkman, Tom Kays and my guest Kellen Hoard were in deep conversation. Kellen had spent his last semester abroad and will start his summer with a trip to Taiwan, Singapore and elsewhere. Eric recounted his trip that began in the Soviet Union and ended in Russia.

Jon Radel soon arrived and showed me the enormous bronze medal he'd brought. Before long we all moved to our table in a back room. Robert and Chris Neuzil were already there and Mike Packard arrived quickly afterwards. The final attendee was my guest Greg Bennick, who'd flown in from Tennessee, where he'd been visiting fellow counterstamp collector Bill Groom. As Greg entered I loudly whispered - "cover for me. I owe Greg money and I'm going out the kitchen.."

We'd agreed I'd pay him cash for the coin I'd bought from him at the recent Baltimore show. Luckily I'd remembered and handed him an envelope which came in doubly handy as Greg made some purchases from Dave Schenkman. Here's my group shot.

Tom's Take
Here's a report from Tom Kays.

Nestled in the beautiful "Duck Room" at Clyde's of Mark Center, the April 2025 Nummis Nova flock sported Mike Packard, Wayne Homren, Host: Robert Hoppensteadt, Eric Schena, Dave Schenkman, Guest: Greg Bennick, Guest: Kellen Hoard, Jon Radel, Chris Neuzil, and behind these iPhone pics, Tom Kays. Amazing numismatic items were shown and discussed as is the norm for this merry group. Here are samples of some of the delicacies

The finest and most complete collection of Admiral George Dewey (1837 – 1917) tokens including this ‘C. H. Hanson – Engraver and Medalist' Token from Chicago. Admiral Dewey explored a run for the Democratic Presidential Nomination in 1900.

Twenty-Five Cent Check from Kents Store, (1868 – 1947) Fluvanna County, Virginia – Kents Store was a general mercantile establishment catering to tobacco wagon traffic heading for the James River Canal that sold household goods, pharmaceuticals, and fertilizer.

Very large (dinner-plate size) cast-iron medal given for ten years participation in reporting Finnish, Dynamic Regional Sector Agricultural Productivity to help manage efficient choices in aggregate production control

1899 Santa Rita – Twenty-Five Cents Note of J. B. Gilchrist & Dawson Inc. (operated in Grant County, New Mexico Territory from April 1899 – August 1899) in PMG Choice Uncirculated-64 condition, ex: John J. Ford Collection. This may be a unique example.

Also passed around were old and new literature including:

• Various bindings of the new, 2026 The Official Red Book – A Guide Book of United States Coins, 79th Edition, which has a new layout. (Note: several Nummis Nova members are on the 2026 Advisory Panel);
• Imprint – Journal of the American Historical Print Collectors Society, Volume 19, Number 1, Spring 1994 which include the article "The Angel in the Factory: Images of Women Workers Engraved on Ante-bellum Bank Notes" by Francine Tyler;
• The Connecticut Collection February 1975 – A 50th Anniversary Retrospective of EAC 75 by Randall Clark who in 2025, rearranged the original 1975 Pine Tree Auction Company catalog from an ordering by where the coppers were minted, into Miller Variety order.

Many more fascinating items passed by as dinner progressed but were not captured at that time in pictures including:

• A mint error, 1873 with arrows Seated Liberty Dime, struck 5% off-center with struck through reverse;
• A scarce, Fifty-Cent, British Darien Gold Mining Company Limited of Panama (1894 – 1903), octagonal copper token (second series) with English legends on the obverse, showing a miner propping his right foot on his shovel, and Spanish legends on the reverse Para Simplificar Las Cuentas – Cincuenta Centavos – Nada Mas;
• A case of old, mostly thaler-sized coins, dating from 1567 to 1876, along with a double reverse 1749 English Half Pence, cleverly crafted by soldering together two reverses of half pence made in the year of the H.M.S Mermaid delivery, and likely one of the earliest magic coins to be found.

The Connecticut Collection February 1975
Most of the numismatic literature was mine. Mike Packard brought the new Randy Clark book on The Connecticut Collection. Here are some of my photos.

To read the earlier E-Sylum article, see:
NEW BOOK: THE CONNECTICUT COLLECTION (https://www.coinbooks.org/v28/esylum_v28n14a05.html)

More Photos
The off-center 1873 Arrows Dime was what I'd bought from Greg at the Baltimore show. Here's the PCGS photo.

To read the earlier E-Sylum article, see:
WAYNE'S NUMISMATIC DIARY: MARCH 30, 2025 (https://www.coinbooks.org/v28/esylum_v28n13a21.html)

Gilchrist & Dawson Scrip
Dave Schenkman writes:

Admiral Dewey Storecards
Dave Schenkman writes:

Dave adds:

It was great to see everyone, and a pleasure to rummage through some great numismatic material. Conversations I was part of (or in earshot of) included ancient coins depicting architecture, coin auctions, Finnish and Swedish medals, error coin prices, and life advice from one's elders. Another great evening of numismatic fellowship. 'til next month!

 

COINS REVEAL ROLE IN SWAHILI TRADE HISTORY

A recent study by Dr. Ignacio Montero-Ruiz and his colleagues examined the provenance of ancient copper artifacts discovered on the Island of Ibo off Mozambique's coast. The study, published in Azania: Archaeological Research in Africa, provides new insights into the role small coastal villages played in the early development of the Indian Ocean trade.

For much of the Swahili trade history, the role of northern Mozambique has been considered marginal.

However, in 2016, a test pit dug on the island of Ibo revealed various artifacts linking the area to the wider Swahili trade, including Persian Gulf or Iranian glazed ceramics, a fragment of a soft-stone ware possibly from Iran or Oman, and glass beads traded from India and Central Asia.

Among the finds were also three bronze coins, a chain, and metal fragments. The metal objects were subject to elemental analysis by X-ray fluorescence (XRF) and lead isotope analysis.

The elemental analysis revealed that the coins had a unique elemental composition unlike any other known Swahili coins.

The Ibo coins were made up of an unusually high tin-lead ratio and, unlike Swahili coins, contained no arsenic. The researchers proposed that this may indicate a shift in the source of copper (needed to make bronze) for Swahili coins during the 11th and 12th centuries.

Lead isotope analysis was conducted on two of the coins and a fragment of the coin to determine the geological origin of the copper.

Using a specialized mass spectrometer, the researchers compared the isotope signatures with sources across Africa and Eurasia.

The results showed that none of the metals had originated in the Islamic world, as their alloy composition did not match. Neither were they recycled metal.

To read the complete article, see:
12th-century bronze coins reveal role of Northern Mozambique in Swahili trade history (https://phys.org/news/2025-04-12th-century-bronze-coins-reveal.html#google_vignette)

2025 ROYAL MAUNDY COINAGE CEREMONY

This year taking place at Durham Cathedral, The King and Queen have attended the annual Maundy Service, during which His Majesty presented Maundy recipients – 76 men and 76 women – with two purses: one red and one white, containing Maundy Money.

The Royal Maundy gifts are given in recognition of recipients' outstanding Christian service and for making a difference to the lives of people in their local communities.

Recipients are selected from Church of England dioceses across the country, and Anglican and Ecumenical partners across the UK. This year, the Recipients have been chosen from the Dioceses of the Northern Province of England and Scotland.

The white purse contains a set of specially minted silver Maundy coins, while this year the Red Purse contains a £5 coin commemorating The Queen Mother, and a 50p coin which features stories of WWII.

Maundy Thursday is the Christian holy day falling on the Thursday before Easter. It commemorates the Maundy and Last Supper of Jesus Christ with the Apostles.

Royal Maundy can be traced back in England to the 13th century, with the first recorded Royal Distribution at Knaresborough by King John in 1210. From the 15th Century, the number of recipients has been related to the years of the Sovereign's life.

Following the Service, The King and Queen spent time meeting members of the public outside the Cathedral.

To read the complete articles, see:
Royal Maundy 2025 (https://www.royal.uk/news-and-activity/2025-04-17/royal-maundy-2025)
Ultra-rare coins with royal connection could be worth small fortune (https://www.manchestereveningnews.co.uk/news/money-saving/ultra-rare-coins-royal-connection-31445647)

To read an earlier E-Sylum article, see:
COINS OF THE ROYAL MAUNDY (https://www.coinbooks.org/esylum_v19n13a21.html)

PLAYBOY CHIPS WILL NOT BE REDEEMED

Keith Hawkins thought he'd hit the jackpot. Nearly three years ago, he bought almost $60,000 worth of decades-old poker chips from the short-lived, long-shuttered Playboy Hotel and Casino in Atlantic City, planning to trade them in with New Jersey officials for cash.

But a state appellate court ruled last week that his bet won't pay off. The two-judge panel of the New Jersey Superior Court's Appellate Division decided that, since the poker chips were supposed to have been destroyed after the casino closed in the mid-1980s, officials don't have to pay him from the fund set up to compensate gamblers with outstanding poker chips.

The ruling stymies Hawkins, 36, of Mooresboro, North Carolina, who for more than two years has been trying to get a five-figure payout from state officials. But state officials said that, since the casino had never put the chips worth $59,500 into circulation, they were not obligated to pay Hawkins's claim. A contractor improperly kept the poker chips decades ago instead of destroying them.

Hawkins's journey started in November 2022, when he paid $16,050 to an online seller for 389 poker chips with a face value of $59,500. On May 5, 2023, he tried to redeem them with the state's Unclaimed Property Administration. As part of its closure, the Playboy Hotel and Casino seeded a UPA fund to cover the cost of its chips still in circulation.

The poker chips offer a glimpse into Playboy's high-rolling ambitions nearly a half-century ago. In 1981, Playboy Enterprises opened a 500-room hotel casino as Atlantic City aimed to transform itself into a gambling hub rivaling Las Vegas, the New York Times reported at the time.

For three years, the casino, which cost $135 million (or $485 million when adjusted for inflation), was an embodiment of the Playboy aura. Gamblers had their pick of 121 table games and nearly 1,300 slot machines spread over 52,600 square feet and three floors, all with a view of the ocean. Cocktail waitresses dressed in bunny costumes bounced around the casino floor. The iconic Playboy bunny logo was splashed everywhere, most prominently atop the gleaming, 20-plus-story high rise shooting up from the Jersey Shore like a giant mirror.

Playboy's big bet on Atlantic City went bust in 1984.

Nearly 40 years later, Hawkins filed his claim to cash in the casino's chips, sparking an investigation by New Jersey State Police.

To read the complete article, see:
A man sought $60K for old poker chips. A court said he's out of luck. (https://www.washingtonpost.com/nation/2025/04/10/playboy-poker-chips-new-jersey/)

FRICK COLLECTION MEDAL GALLERY

Over the course of six decades, Stephen K. Scher—a collector, scholar, and curator—has assembled the most comprehensive and significant private collection of portrait medals in the world, part of which he and his wife, Janie Woo Scher, gave to The Frick Collection last year. To celebrate the Schers' generous gift of what is the largest acquisition in the museum's history, the Frick presents more than one hundred of the finest examples from their collection in The Pursuit of Immortality, on view from May 9 through September 10, 2017. The exhibition is organized by Aimee Ng, Associate Curator, The Frick Collection, and Stephen K. Scher.

Comments Director Ian Wardropper, "Henry Clay Frick had an abiding interest in portraiture as expressed in the paintings, sculpture, enamels, and works on paper he acquired. The Scher medals will coalesce beautifully with these holdings, being understood in our galleries within the broader contexts of European art and culture. At the same time, the intimate scale of the institution will offer a superb platform for the medals to be appreciated as an independent art form, one long overdue for fresh attention and public appreciation." The exhibition, to take place in the lower-level galleries, showcases superlative examples from Italy, Germany, France, the Netherlands, England, and other regions together with related sculptures and works on paper from the Frick's permanent collection, helping to illuminate the place of medals in a larger history of art and their centrality in the history of portraiture in Western art. A short film will demonstrate one method by which medals were made, and visitors will have the opportunity to handle a reproduction of one of the most famous medals of the Renaissance.

The portrait medal is one of the most important artistic inventions of the Renaissance and an essential part of the history of portraiture in Western art. This art form flourished across Europe from the fifteenth through nineteenth centuries, during which time the making, form, and function of medals varied widely. As tokens of identity, medals evoke an individual's characteristics. The likeness of the subject is displayed on the front (the obverse) of the medal, and associated imagery and text, such as a heraldic device, personal allegory, emblem, or narrative scene, can typically be found on the back (the reverse).

The Stephen K. and Janie Woo Scher Center for the Study of Commemorative Medals

Established in 2024, The Stephen K. and Janie Woo Scher Center for the Study of Commemorative Medals at The Frick Collection serves as an institutional platform dedicated to the study and advancement of medal studies. It prioritizes an interdisciplinary approach, incorporating perspectives from art history, history, conservation, iconography, sociology, heraldry, the history of collecting, and propaganda studies.

Moving beyond a strictly numismatic focus, the center emphasizes the study of medals as sculptural objects, exploring their artistic, historical, and cultural significance. Through training in connoisseurship, scientific analysis, and conservation techniques, the center aims to equip the next generation of scholars with the tools necessary to advance research and preserve these artifacts for future study.

The Scher Collection is the most significant collection of medals in private hands, and a large portion of it has been generously donated to the Frick by Stephen K. and Janie Woo Scher. Rotated selections of masterpieces from their collection are displayed in a room on the second floor of the Frick mansion, which celebrates their gift.

For more on the Frick renovation, see:
After 5 Years and $220 Million, the Renovated Frick Feels Familiar. That's the Point (https://news.artnet.com/art-world/frick-reopening-april-2025-2631844)
Change Is Good (https://www.archpaper.com/2025/04/the-frick-reopens-selldorf-architects/)
Is the New Frick Collection Just the Same Old Thing? (https://hyperallergic.com/1003333/is-the-new-frick-collection-just-the-same-old-thing/)

For more on the Frick's medal collection, see:
The Pursuit of Immortality: Masterpieces from the Scher Collection of Portrait Medals (https://www.frick.org/press/pursuit_immortality_masterpieces_scher
_collection_portrait_medals)
Medals (https://www.frick.org/art/medals)

To read earlier E-Sylum articles, see:
NEW BOOK: SCHER COLLECTION OF PORTRAIT MEDALS (https://www.coinbooks.org/v20/esylum_v20n30a06.html)
NEW BOOK: THE SCHER COLLECTION (https://www.coinbooks.org/v22/esylum_v22n46a03.html)

WHY DID MERCHANT SCRIP EXIST?

Before banks were established in remote regions of Canada, paying employees involved shipping currency long distances into wild and often lawless regions. The alternative to this risky enterprise was for the company to issue its own money. Called scrip, this private merchant currency was redeemable for products at the company store and even frequently in the local economy.

Following the collapse of the 1837 Rebellion in Upper Canada, its leader, William Lyon Mackenzie, fled with some of his supporters to New York State. He then set up a "provisional government" on Navy Island, a small island in the Niagara River. Mackenzie issued scrip when all other means of acquiring supplies failed. The notes were allegedly payable four months after date at City Hall, Toronto, and were based on nothing more substantial than the dream of a successful invasion of Upper Canada.

In a desperate bid to make his scrip more appealing to the business community of Buffalo, Mackenzie had the signature of David Gibson forged on the notes. Gibson, a prominent and wealthy man, had been one of Mackenzie's supporters, but at the time the scrip bearing his name was issued, he was a hunted fugitive with a £500 bounty on his head. The forgery was in vain, for the notes never circulated to a significant extent. In fact, the scrip was ridiculed on both sides of the border.

To read the complete article, see page 83:
https://www.torontocoinexpo.ca/documents/
GB%20Auctions%20T.O.%20Coin%20Expo%20May%202025.pdf

MORE ON BOSTON MUSEUM OF AMERICAN FINANCE

Come July 1, 2026, Boston's Seaport will welcome a new kind of tourist attraction, one that will be near and dear to the hearts of the PYMNTS audience: the Museum of American Finance. An affiliate of the Smithsonian Institution, this venerable institution is finally planting its flag in Boston after decades of wandering the country's financial landscape, with its first permanent exhibit space outside of New York since 2018.

The museum will occupy approximately 5,400 square feet at Commonwealth Pier, a waterfront hub that's transforming into Boston's latest hotspot for dining, shopping and year-round programming. Founded in 1989, the museum has long been a custodian of the nation's financial history, housing an impressive archive of documents, including some from the Founding Father himself, Alexander Hamilton. Its collection of 18th-century U.S. financial documents, letters, and records is a treasure trove for anyone who appreciates the gritty origins of American capitalism.

Since its move from Wall Street in 2018, the museum has been touring exhibits nationwide. Now, with a decade-long lease secured at Commonwealth Pier, the museum is set to become a permanent fixture in Boston's cultural landscape. Its exhibits will be free to the public, reflecting its core mission to democratize financial education. While the museum's existing collection is impressive, one can't help but imagine some exhibits that would truly make it a must-visit for finance professionals — and perhaps give a cheeky nod to the darker corners of American finance history. To that end, here are seven exhibits we think the Museum of American Finance should consider:

• The Dark Side of the American Dream
• Wall Street's Villains and Vigilantes
• The Money Laundering Lounge
• The Great Financial Panic of 1907
• The Rise and Fall of the Bubble
• The Art of the Financial Scam
• The Ethical Dilemmas of Finance

In a way, these proposed exhibits could serve as a mirror — reflecting both the ingenuity and the pitfalls of American capitalism. It's a chance to celebrate the pioneers like Hamilton while also acknowledging the con artists and fraudsters who remind us that finance, like all human endeavors, is imperfect. Whether you're a banker, a regulator, or just a curious onlooker, this museum will be a must-visit with perhaps a few cautionary tales along the way. And who knows? Maybe it'll even inspire a new generation of finance professionals to keep the dark side of the American dream in check.

To read the complete article, see:
BOSTON MUSEUM OF AMERICAN FINANCE OPENS (https://www.coinbooks.org/v28/esylum_v28n15a11.html)

To read the earlier E-Sylum article, see:
Money Talks, and Now It Also Has a Museum in Boston's Seaport (https://www.pymnts.com/the-weekender/2025/money-talks-and-now-it-also-has-a-museum-in-bostons-seaport/)

ABOUT THIS ISSUE: APRIL 20, 2025

To read the complete article, see:
Drawing Conclusions (https://www.bizarro.com/blog/2025/4/20/drawn-conclusions)

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 and US counterstamps. He is on the board of both CONECA and TAMS and enjoys having in-depth conversations with prominent numismatists from all areas of the hobby. 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.