North York Coin Club Founded 1960 MONTHLY MEETINGS 4TH Tuesday 7:30 P.M. AT Edithvale Community Centre, 7 Edithvale Drive, North York MAIL ADDRESS: NORTH YORK COIN CLUB, P.O.BOX 10005 R.P.O. Yonge & Finch, 5576 Yonge Street, Toronto, Ontario, M2N 0B6

Contact the Club : Executive Committee E-mail: [email protected] President ...... Nick Cowan Director ...... Tony Hine Receptionist ...... Phone: 647-222-9995 1st Vice President ...... Bill O’Brien Director ...... Roger Fox Draw Prizes ...... Bill O’Brien 2nd Vice President...... Shawn Hamilton Director ...... Vince Chiappino Social Convenor ...... Bill O’Brien Member : Secretary ...... Tony Hine Junior Director ...... Librarian...... Robert Wilson Program Planning ...... Canadian Numismatic Assocation Treasurer ...... Len Kuenzig Auctioneer ...... Bob Porter Past President ...... Robert Wilson Auction Manager ...... Mark Argentino Ontario Numismatic Association Co-Editors ...... Paul Petch/Tony Hine THE BULLETIN FOR MAY 2008

PRESIDENT’S MESSAGE NEXT MEETING - TUESDAY, MAY 27 Hi again, fellow members: We start gathering at 7:00 p.m. with meeting start scheduled for 7:30 p.m. Once again, another Ontario Numismatic Association Convention has Marvin Kay will be our speaker at the next meeting. During this past winter he was come and gone. I think this one in Sudbury able to take a month-long trip to and New Zealand. He comments, “As was one of the better ones. The bourse was usual, whenever I am on vacation, I studied the currency of the country I am visit- good and speaking to many dealers, they ing. Since my wife was doing lots of shopping, I had ample opportunity to study the were happily replenishing their inventories coinage and banknotes I received in my change. At the next meeting I will present a as well as doing a brisk sale business. slide show with pictures of the coins, as well as photographs of some of the more Here is a survey question I was asked interesting tourist sites.” to put to our membership from a dealer I was speaking with in Sudbury: Do you Our supply of draw prize material is very low and we appreciate all donations. think there is opportunity for a coin and Also, please bring some items for the auction. paper money dealer with a storefront in Toronto? Toronto, in general, does not Parks and Recreation and the Toronto could be a little bigger and I will speak to have an abundance of dealers, so do you District School Board. News netting out them on this matter or a buffet style. I think a good one could survive? From the our situation will go out with either a spe- would ask that you think about this over conversation I understand this dealer is cial notice e-mail or our regular September the summer and we can discuss it in looking to either relocate or open a new bulletin. September, wherever we may be. premises in Toronto. The C.N.A. Convention is coming I will be asking David Quinlan for an Interestingly enough, most of the deal- upon us quite quickly. I have always update on our Web site proposal. In that we ers that I spoke with were all looking for enjoyed in the summer and having have the whole summer to work on it, I Silver Bars 10, 50, 100 and 1,000 ounces. a coin convention to go to will just make would expect that it can be up and running Any of those that were for sale went for a the trip a whole lot more enjoyable. by our September meeting. At that time, premium of up to $4.00 an ounce . . . kind Myself, I will be at the Convention on we will be continually looking for mem- of tells you where the speculators are Friday and Saturday then on to Montreal bership input. Having a website that never heading. and Quebec City for a few days, stopping changes is no good at all. We need new We have 2 months left in our season on the way back in Kingston to see friends. input and posting weekly. and we are still not fully informed as to (And no, they are not in the Crowbar or Yet again, as I close, please try to think what will happen to our meeting room, if, Queen’s Hotel.) of anyone who may wish to come to a as and when the new building will start. It Before we close the season, we are meeting as a Visitor. We have gained a was supposed to be in June, however, that starting to make our Christmas dinner couple of new attendees / members, so seems to have gone by the wayside. I will arrangements. In that we had a good time let’s keep it up and rebuild for our 50th. be meeting with Councilor Fillion and try last year, I would suggest that we go back Anniversary. Let’s discuss the anniversary to get a firm date to report to you by the to the Legion again. This time, we will at the next meeting. Maybe we should end of June. have someone pick up Bob Porter, so that have a 50th anniversary event or party? If this is not possible, I invite ALL we can have the Bingo game on time and members to keep in touch with me by also to ensure he gets to have dinner. See you in a few days. TELEPHONE, over the summer and I can Again, we have choices: a dinner not Nick keep you updated as to the actions of the unlike last year, although I do agree that it PAGE 2— MAY 2008 — NORTH YORK COIN CLUB BULLETIN

MEETING NEWS OF THE APRIL 2008 MEETING

The 534th meeting of the North York his leadership; rather the club should get a Our program topic was the 1951 Coin Club was held on April 22, 2008 at 7 couple more years seasoning for the executive Commemorative Five Cent Nickel and was Edithvale Blvd. President Nick Cowan called before pursuing such a major project. Carried. presented by Henry Neinhuis. This was a the meeting to order at 7:40 p.m. with eight- Paul Petch enquired whether a NYCC thorough examination of the piece including een members and three guests (one a junior, member was attending the ONA convention the design competition leading up to the strik- one a returning guest) in attendance. Mr. Tom as a club delegate. Tony Hine agreed to report ing, production problems when nickel was in Ivovic, one of the guests, elected to become a convention proceedings back to the club (A short supply due to military needs during the member during the break. written report is provided as a separate article Korean War and the 1951 five-cent market- The On Time Attendance Draw winner in this newsletter.) place including special attention to the scarce high-relief specimens. The Powerpoint pres- was Leonard Guerin, who was not in atten- David Quinlan outlined his report on web entation was supplemented by pictures dance. The May draw will increase to $6.00. hosting and domain name registration. Nick obtained from Library and Archives Canada Minutes of the previous meeting were suggested we consider broadening the clubs during a recent research trip to Ottawa. available in the April bulletin and resulted in name to collectibles before registering a one correction from Norm Belsten regarding domain name with a ten-year life. Some dis- Our auction was called by wireless teleg- woods of Canadian coins which were from cussion ensued. Nick requested that we rapher Robert J. Porter (RCN retd), managed CNS () not VNS (Victoria). The decide on a course by June, so the work can by Mark Argentino and with both ably assist- Minutes were approved as corrected. The be done over the summer to have website up ed by runner Vince Chiappino. Commissions Treasurer presented a financial report. and running for fall. from sales were $12.40. Door prize winners were David Quinlan (2), Vic Shewchuk, Bob Nick Cowan discussed the reasons for his Roger A. Fox displayed three CT coupons Velensky, Franco Farronato, Leon Saraga, withdrawal from leading a bid for NYCC to of $2.00 denomination following up on his Tony Hine (3) and David Meranda. The host the ONA 2011 Convention. Paul Petch, March presentation. amount raised in draw ticket sales is not first vice president of the ONA reflected on A Coffee Break was held at 8:30p.m. with available. the trend for ONA central to manage conven- refreshments generously provided by Bill There being no further business, the meet- tions, but use a host club near the venue to add O’Brien. local colour. Nick moved that the club decide ing adjourned at 9:46 p.m. not to pursue a bid to host ONA 2011 under

COMING EVENTS FOR SPRING / SUMMER 2008

MAY 23 - 25, St. Catharines TNS, Quality JULY 17 - 20, Ottawa Canadian SEPT. 6, Guelph, South Wellington Coin Hotel, 327 Ontario St. 10 a.m. to 4 p.m., on Numismatic Association 2008 Convention, Society Fall Show, Colonel John McCrea Saturday and Sunday. Daily admission is $4, Crown Plaza Hotel. More details to follow. Legion, 919 York Rd., Guelph or Hwy 7. Show pass is $20. For more information con- For information contact Serge Pelletier Hours: 9:30 a.m. to 4:30 p.m. One of tact Rick Simpson, Jo-Anne Simpson, [email protected]. Web site: Southwestern Ontario’s biggest shows, 50 [email protected] (905) 643-4988, fax http://canadian-numismatic.org. dealer tables, free parking, fully accessible. (905) 643-6329. AUG. 10, Paris, SWON, Special Events Large display area, hot meals. Admission $2 JUNE 8, Brantford Brantford Numismatic Building 139 Silver St. (Paris Fairgrounds). for age 16 and up. Free gold coin draw. For Society 47th Annual Coin Show, Woodman Hours 9 a.m. to 4:30 p.m. More than 50 more information, contact Lowell Wierstra, 8 Community Centre, 491 Grey St. Hours: 9 tables of coins, papermoney, military and Smart St., Guelph, ON, N1G 4K9. Phone a.m. to 4 p.m. Free admission, free parking, more. Admission $2 includes ticket on a gold (519) 824 6534. 34 dealers at 65 tables. Local police coin draw.Good food and drink available at SEPT. 14, , London Numismatic Protection, member assistance for dealer show. Buy sell and trade For more informa- Society 16th Annual Coin Show, Ramada unloading and parking. For more informa- tion, contact Ted Bailey at 1-866-747-2646 or Inn, 817 Exeter Rd. [off Hwy. 401]. Hours 9 tion, contact Brantford Numismatic Society, E-Mail [email protected]. a.m. to 4 p.m. Draws for prizes with admis- PO Box 28071, North Park Plaza, Brantford, AUG. 24, Woodstock, Woodstock Coin Club sion of $1 - children free. Free parking. ON, N3R 7K5 or Ed Anstett, 519-759-3688, Annual Show, NEW LOCATION. Displays, and dealers for coins, tokens, [email protected]. Woodstock Community Complex, 381 Finkle medals, paper money and more. For more JUNE 28 - 29, Toronto Torex - Canada’s St. Hours: 9 a.m. to 4 p.m. Door prizes and information, contact Len Buth, 519-641- National Coin Show, Hilton Toronto Airport displays. Admission $1, kids free. For more 4353. Email [email protected]. Hotel, 5875 Airport Road. Hours: Sat. 10 a.m. information, contact Woodstock Coin Club, to 5 p.m.; Sun. 10 a.m. to 3 p.m. Admission 41 Masefield Cr., London, ON N5V 1M9, $6. Official Auctioneer: Moore Numisimatic (519) 451-2316. Auctions Inc.The Hilton hotel is located directly across from Toronto’s Pearson International Airport. For more information, please call 416-705-5348. Web site: http://www.torex.net. Listings are courtesy of Canadian Coin News Coming Events NORTH YORK COIN CLUB BULLETIN — MAY 2008 — PAGE 3

RCM CENTENNIAL - CHAPTER 5: 1965 TO 2008 BY TONY HINE In the previous four installments, we size on the obverse, as well as the rear jewel Churchill shop website: ”The Royal reviewed the history of the Royal Canadian on Elizabeth II’s crown. 1965 was a year Proclamation authorising the design of the Mint from its opening in 1908 as the Ottawa when public interest in Mint products coin was signed by the Queen on 3 August branch of the Royal Mint through its evolu- reached a peak that created a market bubble. 1965. Lady Churchill started the coining tion during two world wars and its renaming On January 2, 1965 the Canadian Post press at the Royal Mint in September and in 1931 as the RCM. Office is reported to have informed the Mint was presented with the first Churchill crown The 1960s saw the centennial of that a mountain of orders for proof-like sets to be struck. Later the Queen visited the Canadian Confederation; a new Prime so that the limit of 2 million sets was reached Royal Mint and struck a further example of Minister; the replacement of silver by nickel on the first day of business. In response to the coin which was also presented to Lady in circulating coinage, and the conversion of political pressure, the Minister of Finance Churchill. Distribution of the coins began on the RCM to a Crown Corporation. A history ordered on January 31, 1965 that all orders 11 October 1965 and production continued of the Mint: ”Heads and Tales,” was pub- received must be filled. This was done, and until the summer of 1966 to satisfy lished on the occasion of the Mint’s sixtieth the result was a glut of PL sets. It is perhaps demand.” birthday. this glut environment that gave collectors Canada’s new flag was commemorated ruing their purchases time to examine their on its 40th anniversary with a 2005 silver dol- Canadian Decimal Key Dates 1965 dollars in greater detail for varieties. lar. The proof set version included selective Beads, Blunt or Pointed 5 determine gold plating on the portions of the flag that five 1965 silver dollar varieties Beads/ Numeral 5 Pointed 5 Blunt 5 are red in the actual flag. The silver dollars of 1965 had five vari- Small Type 1 Type 2 Mrs. Mary Gillick, sculptress and eties. The struck Medium Type 5 Not found engraver of the first Elizabeth II obverse 10,768,569 silver dollars in 1965. Beads Large Type 4 Type 3 design, used in Canada, Great Britain and were found in small, medium and large her dominions from 1953 to 1964, passed sizes, and the numeral five in the date is Table: Charlton catalogue classification of away in 1965. Pierre Trudeau, a former either pointed or blunt at the bottom. 1965 silver dollars University academic and lawyer was elect- The 1965 silver dollar introduced the ed to the house of Commons in the gener- new obverse portrait of Elizabeth II wearing al election of 1965 as the Member from a tiara with a more mature head than the In his biography of James Charlton, H. Mount Royal, a riding he would hold until 1953 obverse. Arnold Machin designed the Don Allen recounts the story of a woman 1984.March 31, 1965 was the closing date of new obverse. After the Confederation con- who approached Charlton at a Saint a public competition announced in 1964 for ference commemorative of 1964, the silver Petersburg, Florida coin show for advice on designs for Canada’s centennial coinage. dollar was to revert to the voyageur reverse 1965 Canada Type 4 silver dollar coins. She Alex Colville of Sackville, New Brunswick, designed by Emmanuel Hahn for the 1935 had purchased rolls for $100.00 each, but designed the winning entries, and his dollar. According to R.C. Willey in the they were now selling for $200.00. Charlton worked was carved into dies by RCM Canadian Numismatic Journal of October advised her to sell. Allen reports: ”She was engraver Myron C. Cook. On May 25, 1965, 1987, he credits both Thomas Shingles and offended. the Royal Canadian Mint opened a new Myron C. Cook with re-engraving the “She wanted to buy more, and to make facility in Hull, Quebec to strike collector reverse for the 1965 dollar. The Charlton more money.” (page 102 Allen, H. Don; coins. On October 26, 1965, Finance catalogue does not contemplate this possibil- Coinman To ) When greed and Minister and Canadian nationalist, The ity. It suggests that the initial coins were fear guide decisions rather than supply and Honourable Walter Gordon announces that a small beads variety, but it produced poor die demand, tears await. The other numismatic centennial coin set will include a gold twen- life. In response to this a medium beads test landmarks of 1965 include the death of Sir ty dollar coin th coin was struck to see if a sloped field Winston Churchill on January 24 and the It is interesting to note that although improved die life. The success of this exper- selection of a new Canadian Flag on trends lists the most valuable dollar as the th iment with medium beads apparently con- February 15 . Type 5 at $750.00 in MS-65 condition in the vinced the mint that large beads would work Churchill, Britain’s popular wartime August 21, 2007 issue of Canadian Coin even better, so new master dies were pre- Prime Minister was commemorated in 1965 News, the 2006 ICCS Population Report pared with large beads. The beads varieties with a Crown from the Royal Mint bearing shows thirty Mint State 1965 silver dollars, on the silver dollar were echoed in the cop- his portrait on the reverse. According to the none of which were type 5. per cent where blunt and pointed five vari- To learn more about collecting Canadian eties are each found in small and large bead numismatic varieties, visit www.cevna.com, versions. Although Willey speaks of re- the website of the Canadian Error and engraving the reverse, all five varieties in the Varieties Numismatic Association. Charlton are distinguished using the beads Continued on page 4 PAGE 4— MAY 2008 — NORTH YORK COIN CLUB BULLETIN

Centennial Twenty Dollar Gold Coin mal coinage in 1966. The Royal Canadian To celebrate Canada’s centennial year, Mint struck New Zealand Coins in1978, the Royal Canadian Mint selected new 1979, 1980, 1981, 1982, 1983, 1984, reverses for Canada’s circulating coinage. 1985,1986, 1987, 1988,1989, 2000 and As the coat of arms on Canada’s silver fifty 2006. cent piece was replaced by a howling wolf, The rising price of silver through the mid the coat of arms was reassigned to a non- 1960s drove first the United States, and later circulating collector coin: a twenty dollar Canada to reduce the silver content of their gold piece. The gold coin received top cen- respective coinages. In the United States, sil- tre position in the leather presentation case ver disappeared from the ten cent and twen- of the RCM’s Centennial Coin Sets. This ty five cent coins in 1965, while the fifty was the first Canadian gold coin minted cent piece went from ninety percent silver to since 1914. The trends value of the cased fifty percent in 1964 when the Kennedy half gold set fluctuates with the Gold bullion was launched. The Roosevelt dime went price, but was $425.00 in the October 3rd, from 90% silver in 1964 to a cladding of 2006 issue of Canadian Coin News. About 75% nickel and 25% copper on a pure cop- one hundred (117) twenty dollar gold pieces per core in 1965. Similarly, the Washington have been certified in mint state and appear quarter went from 90% silver, 10% copper in the 2006 ICCS Population report. in 1964, to a cladding of 75% copper and 1967 was the year General Motors 25% nickel on a pure copper core in 1965. In launched the Chevrolet Camaro, its second Canada, the Minister of Finance announced attempt to produce a poor man’s Corvette. in 1967 plans to reduce the silver content Ralph Nader harshly condemned its first, the from 90% to fifty percent. In September, Corvair, in a 1965 book: “Unsafe At Any 1967, the Mint halted production of silver Speed.” However the success of Ford’s dollars and fifty cent pieces, to devote silver Mustang convinced GM to try again with a exclusively to ten and twenty five cent less expensive muscle car. pieces. Plans to convert to pure nickel were postponed due to pressure from the vending Pierre Berton, Canada’s most popular machine lobby. Finally, the federal govern- history author, described 1967 as The Last ment agreed to compensate the vending Good Year. The Montreal World’s Fair, machine industry for new selector mecha- Expo 67, created a spirit of pride and opti- nisms, which permitted the end of silver cir- mism. Pierre Eliot Trudeau was called to the culating coins in August 1968.The amount Ontario Bar in 1967. He became Minister of of compensation was between $4 and $5 Justice and repeated a paraphrased version million. [Inquiries to the RCM, Ministry of of Martin O’Malley’s famous dictum that Finance and Archives Canada failed to pro- the state has no business in the bedrooms of duce a dollar value for the changeover.] the nation. He also met Margaret Sinclair while vacationing in the South Pacific. 1967 The other numismatic event of 1967 was was the last year the Toronto Maple Leafs the issuance of a Banknote replacing the won the Stanley Cup. French President serial number with 1867–1967. The note is Charles de Gaulle created uproar in highlighted in a story on the Canadian Paper Montreal on July 24, 1967 by shouting: Money Society’s website www.cpmson- “Vive le Quebec libre.” On December 14, line.ca. 1967, Prime Minister Lester B. Pearson The large date variety of 1969 ten cent announced plans to retire and a leadership coins is the first of ten cent nickel varieties contest began. Pierre Eliot Trudeau quickly to become a key date. The tiara portrait emerged as the front-runner. He became obverse designed by Arnold Machin in 1965 Prime Minister on April 20, 1968. continued in use and the reverse matrix Across the world, New Zealand which had been used to strike silver ten cent launched its new decimal coinage into circu- coins since 1937 was modified to attempt to lation on July 10, 1967. The Royal Mint in produce satisfactory strikes bearing the 1969 the U.K struck the coins. New Zealand had date. Relatively few coins were struck passed enabling legislation for decimal before mint officials concluded that the orig- coinage in 1964, but coins did not circulate inal design incorporating the 1969 date had until after the British launch of its new deci- deteriorated badly enough that a new matrix was now needed. The new design required a NORTH YORK COIN CLUB BULLETIN — MAY 2008 — PAGE 5 smaller set of numbers be utilized to create Ono held their “bed-in” for peace in January1, 1969 Oxford Press released Pierre the date. Although a combined 58,833,929 Montreal. Vallierres work ”Negre Blanc D’Amerique” ten cent coins were struck in 1969, as of In 1969, Boeing’s new wide-body air- in paperback English Translation as “White January, 2005, the Charlton catalogue craft the B-747 had its first test flight on Niggers of America. The political manifesto reports only fifteen examples of the large February 9th. At Air Canada, the Official denounced the second-class treatment of date are believed to have survived. However, Languages Act began to apply to the Crown French- Canadiens chez nous. [graphic: in a triumph of marketing over logic, thirty- carrier in 1969. white niggers cover.jpg cutline: Pierre one mint state examples of the large date ten Vallierres 1968 manifesto translated into Perhaps the defining cultural event of cent coin were certified by ICCS as of the English and released in 1969.] 1969 was the Woodstock Music and Art Fair 2006 population report. in Bethel, New York from August 15th to 18th. At the 1969 C.N.A. Convention held at 1969 was the year when the United Most North Americans remember the three- the Royal York Hotel in Toronto, Rochester States Apollo program landed a man on the day festival of rain, mud and not enough toi- collector John J. Pittman was elected moon and brought him home safely. On the lets from the 1970 movie that documented President of the C.N.A. Sam Veffer received night of July 20/1, 1969, astronauts Neil the event. Janis Joplin, Joni Mitchell and The the first J.E. Charlton Trophy for his prize Armstrong and Buzz Aldrin descended from Who all gave memorable performances, winning Junior Exhibit of coins. Always the a lunar orbit in their LEM lunar module although Crosby Stills Nash and Young bridesmaid, this author came second with his named Eagle into their landing site in the Sea made Joni Mitchell’s anthem memorializing exhibit of Canadian nickel five cent coins. of Tranquility. the festival a popular radio hit. In January The first prize winner for Cdn. Historical The Oscars for 1969 honoured John 1969 Grace Slick, lead female vocalist of the Coins or tokens was Norman Williams of Wayne as Best Actor for his performance in band Jefferson Airplane required a second New Westminster, British Columbia who True Grit. Wayne beat out Dustan Hoffman throat surgery on nodes on her vocal chords. was also elected Second Vice President of and Jon Voight (the father of Angelina Jolie), Two band members were busted for marijua- the CNA. Walter Allen of Oakville Ontario both nominated for their performances in na possession in 1969; bass player Jack won first place in the Canadian Paper Money Midnight Cowboy. However, John Casady in May in New Orleans and Rhythm Category. Graham Esler of London, Ontario Schlesinger won the Best Director award for guitar player Paul Kantner in Honolulu in received a third place ribbon for his exhibit Midnight Cowboy, and the film won Best October. in the U. S. Coins or tokens category. The convention auctioneer was Mr. James E. picture. 1969 was a bad year for America’s Royal Charlton who had just sold his interest in However perhaps the two most memo- family, the Kennedys. Senator Ted Canada Coin Exchange to retire from the rable films of 1969 were the transformation- Kennedy’s July automobile mishap at business. al Easy Rider (for which Jack Nicholson Chappaquiddick, Massachusetts resulted in won his first Best Actor nomination) and Z the death of Mary Jo Kopechne. Then in In 1969, the first J. Douglas Ferguson (pronounced Zeta) a political thriller directed November 1969, family patriarch and for- Award was made to Mr. Fred Bowman, as by Costa Gavras and nominated as Best mer U.S. ambassador to Britain Joseph P. specified by Ferguson upon donating the Picture and Best Foreign Language Film. Kennedy died. Staunch Monarchists and his- funds for the gold medal. Retiring President Easy Rider earned Dennis Hopper a Palm tory buffs will remember the 1969 movie E. Victor Snell presented the CNA a gavel D’Or at Cannes. Students of Greek or law Anne of A Thousand Days, in which Genie and holder with room for the names of all will know that Greek juries vote by placing award winning, Montreal born actress Past Presidents to be engraved upon it. one of two tiles in a vase. Theta is a death Genevieve Bujold portrayed Anne Boleyn, sentence, while zeta means ”he lives.” Costa receiving an Oscar nomination as best Gavras, a leftist, wanted to show that politi- actress and winning the Golden Globe in that cal assassins could kill a man, but not an capacity. She received Genies in 1968, 1970, idea. On January 20th, 1969, Richard 1980, 1988, 1994 and 1998 and an Etrog in Milhous Nixon delivered his inaugural each of 1970 and 1973. address at the White House. On December 6, 1969, the Rolling Jim Morrison of The Doors was arrested Stones performed a free concert at the in Miami Florida in March 1969 and charged Altamont Speedway. As the film Gimme with lewd and lascivious behaviors in public Shelter (released in 1970) records, a Hells after a performance that included Morrison Angels member providing security stabbed a exposing himself, simulating sexual acts, fan to death on camera in front of the per- and being “drunk and profane” in public. forming stage. Even Marty Balin a vocalist Later in 1969, Florida authorities charged in backup act: “Jefferson Airplane” was singer Janis Joplin with disorderly conduct attacked. for an enthusiastic post performance verbal In French Canadian literature, 1969 saw John Jay Pittman exchange with Tampa police. the publication of “Jimmy” by Jacques (a former NYCC member) In May 1969 John Lennon and Yoko Poulin, the story of an 11-year-old boy. On Continued on page 6 PAGE 6— MAY 2008 — NORTH YORK COIN CLUB BULLETIN

In April of the same year skier Nancy For 1992, in anticipation of the 125th Thorvald launched the Linux operating sys- Greene married coach Al Raine, the program anniversary of Confederation, the Royal tem. Windows renamed OS/2 as Windows director of Canada’s national ski team. Canadian Mint prepared twelve commemo- NT. On August 6, 1991 the World Wide Web As well, in 1969, the National Hockey rative quarter dollar coins to recognize the is launched to the public. League awarded expansion franchises to the ten provinces and two (at that time) territo- Air Canada, while looking for a new Canucks and the Buffalo Sabres. ries. As a result of the Royal Canadian President spent much of 1991 using excess Both teams were to join the league for the Mint’s concentration on preparation for the aircraft capacity to squeeze Canadian 1970–1 season. release of the twelve commemorative quar- Airlines to shrink following its 1989 acquisi- ters, and perhaps because close to one billion Two of Billboard’s top ten songs of 1969 tion of Wardair. In February 1991, Canadian quarters struck during the 1980s remained in dated back to the 1968 Broadway musical Airlines moved its operation into Terminal plentiful circulation, mintage of the 1991 “Hair.” “Age of Aquarius” was number one Three, the Trillium Terminal, at Toronto’s twenty five cent coins was very low at and “Let The Sunshine In” ranked tenth for Pearson International Airport. On September 459,000, the lowest mintage since 1934 and 1969. 11, 1991, Air Canada announced major lay- the lowest mintage of any nickel twenty-five offs ”to avert bankruptcy.” Three major U.S. Also in April 1969, a 4.8-km (3-mile) cent piece series from 1968, when nickel air carriers—Eastern, Pan American, and causeway to the man-made island of Roberts replaced silver, right up to 1999, when the Midway—disappeared during 1991, but Bank, in Delta, opened to provide access to coins switched over to plated steel. It is iron- June 1991 was the high water mark for air- a deep-sea port being developed to ship ic that the Canada 125 Quarter series that craft orders with Airbus, Boeing and and BC coal to . The Roberts ignited an interest in coin collecting amongst McDonnell Douglas reporting a combined Bank facility was sold as an income trust in many young people was also responsible for order backlog over U.S.$110 billion. 1996 as Westshore Terminals. Westshore’s a constricted supply that created this key Bombardier Inc.’s 1990 purchase of Learjet 130-acre terminal is the busiest coal export date in the twenty-five cent series. The pop- paved the way for launch in 1991 of its facility in North America, the largest on the ularity of the Canada 125 coins did not move Canadair Regional Jet. The 50-seat CRJ-100 West Coast of the Americas and easily the the monarch, who described 1992 as her flew its maiden flight on May 10, 1991. biggest shipper among Canada’s five export “annus horribilus” in her Christmas address. coal terminals. Owned by the Westshore The silver dollar for 1991 had a trans- 1990 also saw the introduction of the Terminals Income Trust, Westar portation theme. The 1991 silver dollar com- fourth obverse design of Queen Elizabeth th Management Ltd. operates the terminal, a memorated the 175 anniversary of the first II’s reign. 1991 was the second year of the 100% owned affiliate of The Jim Pattison Canadian built steamship to sail the great new obverse. A crowned portrait by Dora Group. The author was an underwriter in the lakes, the Frontenac. The 1991 date was the dePedery-Hunt shows the monarch in a dia- 1996 transaction. last for .500 silver, .500 copper formulation. mond diadem wearing a diamond necklace. Beginning in 1992, the silver dollar became The design by de Pedery-Hunt is similar to 92.5% silver 7.5% copper. On April 11, 1991 the U.K. portrait by Raphael David Maklouf, a Royal proclamation specifies that the F.R.S.A. introduced in 1985 and described designs of the following coins show the by Spink’s Coins of Catalogue as respective images: $20 silver with Silver the Third Portrait. Hunt’s popular portrait Dart aircraft and cameo of Frederick served 12 years until a new Susanna Blunt Baldwin and John McCurdy; $20 silver with portrait of the uncrowned queen was intro- De Havilland Beaver aircraft and cameo of duced after the diamond jubilee. Ironically, Phillip Garratt; according to Ken Polsson’s the ICCS population report shows over 400 Chronology of NCLT Coins website. Mint state 1991 quarters, compared to 64 for Outside of Canada, the United Nations the 1934 date. set a deadline of January 15, 1991 for Iraq to 1991 is the birthday of Canada’s beloved pull its troops out of Kuwait. When Iraq did Goods and Services Tax, which came into not comply, the United States began effect on January 1, 1991. The architect of Operation Desert Storm on January 16, the tax, Michael Sabia of the Privy Council 1991. Under the leadership of George Bush Office was, until recently, Chief Executive Sr., the U.S. mustered a coalition of 30 Officer of Bell Canada. In 1991, Prime nations. The hidden star of the fight was the Minister Mulroney appointed The Hon. John B-2 stealth bomber. The fighting was over C. Crosbie O.C., P.C., Q.C. as Minister of by February 28th. On March 25, 1991, Fisheries and Oceans. On December 18, Dances with Wolves received the Best 1991, Canada’s last surviving father of Picture award for 1990 at the Academy Confederation, Jo. R. Smallwood, O.C. died Awards in Los Angeles. Director Kevin at his home in Newfoundland. Costner also won the best director award. Striking Impressions: 1983 RCM 75th In the world of technology, Intel Pittsburgh Penguins won their first Stanley anniversary project by Dr. James Haxby launched the 486 SX chip in 1991 and Linus Cup in 1991. On June 28, 1991, former U.K. NORTH YORK COIN CLUB BULLETIN — MAY 2008 — PAGE 7

Prime minister Margaret Thatcher wound up The controversial decision rocked Canada’s thesis is further fleshed out in Arrows To The 32 years of a legislative career by announc- aerospace community, and in some ways the Moon, a 2001 book from Apogee Books of ing she would not seek to retain her seat in industry has never fully recovered. Burlington Ontario. the House of Commons at the next election While historians continue to debate the Born in Kamloops, B.C. in 1915, (which was called in July 1992). She had merits of fighters as tools against manned Chamberlin began his education in B.C., but been MP for Barnet, Finchley, two suburbs bombers in the age of ICBMs, aviation buffs had most of his schooling in Toronto. He northwest of London. In October 1991, the and numismatists collecting commemorative studied mechanical engineering at the Minnesota Twins defeated the Atlanta coins have retained a soft spot for the Arrow. University of Toronto and earned a diploma Braves in Game 7 to win the World Series. The Toronto Aerospace Museum fea- at the Imperial College of Science and Buyers on eBay in early June, 2007 had tures a full size model or replica of the pho- Technology in London England. In England a wide range of Canadian twenty-five coin togenic aircraft. While it has wings and he worked briefly for Martin-Baker, the ejec- offerings ranging from a BU offered for wheels, the replica is definitely grounded, tion seat manufacturers. Back in Canada dur- U.S.$0.99 for a BU specimen in a cardboard although Arrow buffs regularly migrate to ing the war, he worked for Clark Ruse 2x2 holder, a “Proof “ specimen for C$53.00 the museum’s Downsview location to see the Aircraft in Dartmouth, N.S. and Norduuyn [U.S. $49.99], another BU at C$7.37an Museum’s pride and joy. Aircraft in Montreal. In 1946, he joined Avro ICCS MS-63 for C$5.00and as ICCS MS-67 Canada and was the chief aerodynamicist on While Canadian Nationalists and AVRO at C$52.74,an uncertified MS-66–67 for the CF-100 Canuck and the C-102 Jetliner. aficionados claim Diefenbaker killed a great C$1.05, an ICCS MS-65 for C$80.58. During the development of the CF-105 plane and a Canadian success, story, the cho- Arrow, he was chief of technical design. He Readers of these pages will have detect- rus is far from unanimous. Larry Milberry, became head of engineering for Project ed some skepticism on the part of the writer the publisher of Canav Books and a respect- Mercury, where he acted as project manager about the wisdom of the marketing gnomes ed air force observer has a website feature and played a key role in the success of over at the circle M ranch (more widely which, he argues, debunks the Arrow myth. Mercury. Then as first project manager for known as the Royal Canadian Mint). (http://www.canavbooks.com/Editorial/Th Gemini, he designed the spacecraft. However, we are the first to recognize eGreatArrowDebate.phpm). The editorial Chamberlin played a key role in NASA’s that, at its best, the Mint can produce some argues that the Arrow remains a cash cow for decision to use a lunar orbit rendezvous to go beautiful products that commemorate some revisionist historians trying to prove to the moon and when he left Gemini in important history and which become very Diefenbaker wrong about an airplane that 1963, he became a technical advisor to salable, collectible and worthwhile. The never achieved the glory that the purveyors Manned Spacecraft Center director Bob Aviation series coins produced from 1990 to of the legend proclaim. Milberry points that Gilruth, and troubleshooter on Apollo. He 1999 definitely produced some winning the Avro CF-100 is credited with rising worked on concepts for the space shuttle at coins. Two aviation series offered twenty above 60,000 feet, even although its opera- NASA and later at McDonnell-Douglas, dollar commemorative sterling silver coins tional ceiling was, in fact, 45,000 feet. which joined in 1970. He worked for the depicting aircraft of historical significance Dr. James A. Chamberlin is the aviation contractor for four years in St. Louis and with an oval cameo portrait of an “aviation hero recognized on the 1996 Arrow coin. then in Houston helping direct development hero” inset in 24k gold plate at about ten In a June 2001 article published in Quest: of the shuttle until his death in 1981. Gainor o’clock position in the reverse design. Coin The History of Spaceflight, University of argues that the team of engineers that NASA 4 in series two, struck in 1996, honoured the Alberta graduate student Christopher Gainor recruited from the Avro layoff pool was an Avro Arrow aircraft and featured a cameo described Chamberlin as “A Forgotten essential core of the team that delivered the portrait of aviation hero James Arthur Leader of the U.S. Space Program.” This Apollo XI astronauts to the moon on July 11, Chamberlin. 1969. The Arrow was developed by Avro Both trends and Charlton catalogue list Arrow as a Canadian built fighter to protect the Arrow coin at twice the price of the northern sovereignty at the peak of the other coins in the series. But Willard Burton Cold War. The Arrow was to be the back- of B &W Coin and Token, says he cannot bone of an air defense shield of interceptor/ keep them in stock. He credits walk-in traf- fighters that would turn back or shoot down fic from aviation enthusiasts who regularly squadrons of Soviet bombers armed with pass his Brampton/Norval location. nuclear weapons targeted at United States cities and bases. The Royal Canadian Mint has not yet launched all its centennial product line for The aircraft was rolled out on October 2008, but the Victoria Numismatic Society 4, 1957, but had to share the newspaper has struck a 1908–2008 one cent bronze front page with the Soviet Union’s launch medal to commemorate the anniversary. of Sputnik the same day. In February 1959, Artist Susanna Blunt at the unveiling of her Prime Minister John G. Diefenbaker can- design of the new effigy of Queen Elizabeth II celled the contract to produce the Arrow. adopted for Canadian coinage in 2003 PAGE 8— MAY 2008 — NORTH YORK COIN CLUB BULLETIN

REPORT ON THE ONA 2008 CONVENTION by Tony Hine

I was pleased to attend the ONA 2008 another town in Ontario was noted Convention in Sudbury hosted by the (Dundas is an example). th Nickel Belt Coin Club from April 25 to The club delegates meeting did not th 27 . include reports from the audio-visual The show was well attended with over librarian as VHS material is being convert- 85 delegates pre-registered and over 50 ed to DVD or PowerPoint. As well, the bourse tables doing a brisk business as club services chairman was not present, so rainy weather on Friday and Saturday gave club services were not discussed. Paul collectors a good reason to be indoors. Petch, first vice-president spoke about the At the Saturday evening banquet, Len lack of convention sponsors for 2010 and Buth received the ONA Award of Merit 2011. He pointed out that ONA presidents and Joe Ash, treasurer of the Nickel Belt like to have conventions close to where Coin Club, received the Fellow of the they live, hinting that if Tom Rogers steps ONA Award. down in 2009, conventions in northwest Toronto become more likely. At the bourse floor, visitors to the CNA table expressed enthusiasm for the 2008 Sales and prices at the Wendy Hoare The writer was privileged to sit beside Convention’s VIP tour of the RCM. The auction held Friday and Saturday were ONA Numismatist editor Richard Johnston bourse was well attended and the dealers reportedly robust, with many lots selling for the Saturday banquet dinner. Arising present offered a wide variety of material well beyond estimates. from that meeting, the May/June issue of the Ontario Numismatist includes an arti- for collectors of many numismatic The meeting of the Canadian cle on the RCM Centennial reprinted from specialities. Association of Token collectors was abbre- the North York bulletin. Collector Lorne Barne’s exhibit of viated when the scheduled program speak- HBC tokens won first prize in the compet- er was unavailable and President Harry The Saturday banquet speaker was Dr. itive exhibit category, while his James led an informal discussion about David Pearson, a professor of earth sci- Newfoundland tokens placed third. Bill historical Ontario tokens. The need for an ences at Laurentian University, who spoke Kamb from Ohio received a second place annotated map to correctly locate tokens on the geology and natural history of the ribbon. from Ontario towns that share a name with Sudbury Basin. He was responsible for the vision from which Science North grew as well as the INCO exhibition Dynamic Earth and was a familiar face to many, being a TVO personality. Tom and Lois Rogers, as well as Gerry and Roland Albert of Nickel Belt Coin Club deserve a hearty congratulation for another most successful event.

Len Buth (right) receives the 2008 ONA Award of Merit from Awards Chairman Paul Petch (Our thanks to Rick Craig for this photo.) NORTH YORK COIN CLUB BULLETIN — MAY 2008 — PAGE 9

THE CASE AGAINST THE PENNY by Andrew Duffy Canada’s Currency Museum stages a Canadian coins were minted in Britain.) At predominantly steel (94 per cent). The travelling exhibit, Count Your Pennies, in the time, Canada’s currency system was a changes reflect the skyrocketing cost of which would-be shoppers are invited to hodgepodge. Each of the country’s 33 most metals. Canadian pennies minted explore grocery stores of the 1900s, 1930s chartered banks printed their own notes before 1980 contain more than two-and-a- and 1950s. The exhibit allows shoppers to and many individual merchants issued half cents’ worth of copper at today’s compare prices between decades: a box of tokens that were redeemable only in their prices. (Nickels of the same vintage hold soap goes from four to eight to 12 cents; a stores. more than 14 cents’ worth of metal.) dozen eggs climbs from 22 to 31 to 57 The penny began the currency’s march Herein lies one defining problem with cents; one pound of sausages costs 12, 15, to standardization. The new pennies were the penny: it is more expensive to produce then 45 cents. Today, a box of laundry soap welcomed by Canadians, who had long than it is worth. At least two studies have can cost $5.99, a dozen eggs $2.29, one been frustrated both by coin shortages and found that the face value of the penny can- pound of sausages $3.99. Although not its counterfeit notes. (The Bank of Canada not cover the cost of its manufacture and stated intention, the museum exhibit high- took over the job of issuing paper notes in transport. A 2003 study by two Wilfrid lights the radical decline in the value of the 1935.) But the penny itself proved far from Laurier University economists used the Canadian penny, which was first minted a immutable. It went through the first of Royal Canadian Mint’s own figures to con- century ago. “It certainly used to mean many makeovers in 1920, when it was clude that each one cent coin costs four more than it does today: it had a value,” reduced in size and weight because of a cents to produce and distribute, a condition says Caroline Roberts, exhibition and pro- spike in metal prices after the First World known as negative seigniorage. A 2007 gram planner at the Currency Museum. War. The coin would continue to shed study by the Desjardins Group of Quebec “Even when I was a child, it meant more.” weight for the rest of the century: today’s estimated the average cost of issuing a one- A penny today is a shadow of its former version weighs less than half as much as cent coin at 1.5 cents. Last month, U.S. self. The penny retains only 5 per cent of the original. Mint Director Ed Moy told a congression- the purchasing power it commanded in The most dramatic change in the penny al committee that coin-manufacturing costs 1908, which means it can buy 1/20th as has been in its mineral composition. What are rising sharply. It now costs almost 1.7 much today. (By extension, today’s dime began as a coin made largely of copper cents, he said, to mint a penny, up from holds 60 per cent less purchasing power (95.5 per cent) became mostly zinc (98.4 1.23 cents just two years earlier. In than the first Canadian-made penny.) The per cent) in 1997; since 2000, it has been response, U.S. Treasury Secretary Henry penny holds so little value that consumers Continued on page 10 regularly stockpile them in Mason jars and beer mugs, along with mismatched buttons and orphaned keys. Billions of pennies now moulder – removed from circulation – in dark corners of Canadian homes. For many, the penny has become the cockroach of the currency system. Reviled, ubiqui- tous and damn near indestructible, pennies have survived 20 years of concentrated government scrutiny. New Democratic MP Pat Martin, how- ever, recently announced his intention to exterminate them once and for all through his private members’ bill. But can anyone really kill the penny? “The business case for abolishing the penny is overwhelming now,” says Mr. Martin, whose proposed legislation would stop production in 2009. “This idea has reached critical mass. Any fiscally responsible government can’t ignore the facts.” The first penny produced End of in Canada was struck on Jan. 2, 1908, by Lady Grey, the wife of governor general the line? Earl Grey, at the opening of the Ottawa branch of the Royal Mint. (Before then, all PAGE 10 — MAY 2008 — NORTH YORK COIN CLUB BULLETIN

Paulson said the penny should be eliminat- the case, lost, or simply thrown away.” country’s heritage. (Curiously, the mint’s ed, but added he didn’t think it possible About two-thirds of Canadians don’t use survey shows that younger Canadians are given the other economic challenges facing pennies anymore, according to the more attached to the one-cent coin than the country. Costs in Canada remain lower Desjardins study. It means that millions of older ones.) Mr. Aubry, a former Bank of because our penny is made from steel, dollars in pennies have been effectively Canada economist who helped author the which is more inexpensive than the zinc sequestered by consumers who regard the Desjardins study, argues that more damage used to produce U.S. pennies. (Congress is coins as more trouble than they’re worth. will be done by allowing the penny to now considering a proposal to make U.S. “If a coin has such low purchasing power linger. “What we see now is a disrespect coins out of cheaper metals.) Alex Reeves, that consumers refuse it, throw it away or for the penny: some throw them away as communications manager for the Royal hoard it without worrying about putting it garbage,” he says. “In the long run, this is Canadian Mint, says each penny contains back into the distribution system,” the bad because it generates disrespect for the raw materials worth 0.8 cents. The mint, Desjardins study concludes, “it would currency and currency is supposed to be however, will not reveal other costs associ- seem logical to stop producing it.” something important in society.” While the ated with penny production, such as labour Most Canadians understand that logic. penny’s fate is still being debated in the and transportation, because it is considered The Future of the Penny in Canada was a court of public opinion, another coin is “commercially sensitive information.” study prepared last year for the Royal already in the dock. (The Canadian mint competes with other Canadian Mint and the Department of The nickel faces some of the same national mints to produce foreign coins.) Finance. It contains a survey that shows a charges as its copper-coated cousin: that its Pennies impose costs on everyone who majority (63 per cent) of small retailers and diminishing purchasing power can’t justify must handle them. Banks, grocery stores a plurality (42 per cent) of consumers its cost and nuisance. New Zealand elimi- and consumers spend time and money to favour the elimination of the penny. The nated its five-cent coin in 2006. The sort, count, roll and move pennies. study found that the major banks are also Desjardins study released this week calls Economists have pegged those costs at in favour of elimination. Logistical prob- for the immediate elimination of the penny, more than $100 million a year. “It is just a lems present the biggest impediment to the followed years later by the removal of the waste of resources,” says economist Jean- penny’s removal, according to the study. five-cent coin. But not everyone dismisses Pierre Aubry. But the actual cost of the The key question for retailers is how they pennies and nickels as worthless. A compa- penny is only one plank in the case against should price items without the penny. ny in Ohio, Jackson Metals, melts pre- the coin. More fundamental is the utility of Should the actual price be rounded to the 1981 Canadian nickels for their mineral the penny itself: Does it serve a meaning- nearest nickel? Or should the customer’s content. (Canada’s Currency Act prohibits ful purpose in today’s economy? A bill, after tax, be rounded to the nearest the melting of coins by private firms, but September 2007 study, prepared for the nickel? How will electronic cash registers there’s no prohibition against the export of Royal Canadian Mint, found that 93 per manage the results? There are also ques- Canadian coins for that purpose.) Another cent of retailers will sometimes complete tions about the mechanics of the proce- business, Coinstar, has also found gold in transactions even if a customer is one or dure. It is generally understood, the study mining the rich deposit of coins stored in two pennies short. About 64 per cent of says, that the mint would “shut off the tap” North American basements. In Canada, Canadians said they wouldn’t bother to of pennies by eliminating their production. Coinstar kiosks – there are 300 in Ontario fish out a penny if it dropped between the But would pennies be legal tender forever? and Quebec – charge a 9.8-per-cent pro- sofa cushions. More than half (52 per cent) Would the mint buy back everyone’s stock cessing fee to count and collect loose agreed with the statement, “A penny isn’t of pennies? Proponents of elimination con- change. Coinstar has turned over 1.3 bil- really worth anything anymore.” The atti- tend that the problems are all surmount- lion coins worth $72 million to the Royal tudes captured by the survey help to able. Australia, New Zealand, Britain, Canadian Mint since launching its services explain why so many pennies disappear and Norway have all managed the in 1998. Mr. Aubry says the fee imposes from the retail distribution system. More elimination of their low-value coins with- yet another unnecessary cost on con- than 31 billion have been minted in Canada out cost inflation. What’s more, they say, sumers, who wouldn’t have to resort to since 1908 and yet, every year since 2000, rounding to the nearest five cents will only such machines if their currency was more an average of 800 million new one-cent apply to final cash transactions. All other rational. “It is another symptom of the coins have rolled off the presses. In 2006, payments, whether by cheque, credit card penny problem,” he says. MP Pat Martin penny production surged: 1.2 billion pen- or debit card, will still be settled to the says the penny has enjoyed 100 good nies were produced in Canada – enough to nearest cent. years, but is now a too-costly anachronism. cross the country three times when laid The verdict on the future of the penny “This isn’t about eliminating the penny,” flat. Why so many coins? “These astro- ultimately rests with Finance Minister Jim he says. “This is about eliminating waste- nomical figures,” a Desjardins Group Flaherty, who said earlier this month that ful spending, and that’s why (Finance study concluded this week, “show that he’s not interested now in eliminating the Minister) Jim Flaherty can’t ignore it.” many pennies don’t find their way back one-cent coin. There’s little political into the retail distribution system either advantage to the move, particularly since The Ottawa Citizen, April 12, 2008 because they are hoarded, which is usually some Canadians consider it part of the