SUMMER 2013 YOUR NEWSLETTER YOUR NEWSLETTER is an Written for Young Numismatists, by Young Numismatists electronic publication for members of the American Numismatic Association, and focuses on Young Numismatists (YNs). ANA Members can subscribe to this FREE publication by e-mailing [email protected] and asking to be placed on the list. Please Katie and her include your name and father James ANA number. receive their awards June 27 Let us know if you have from ANA an interesting article or President Tom website you would like Hallenbeck. published in YOUR NEWSLETTER ! Just e-mail [email protected]. Congratulations to Katie Reinders, For every article you write that is published 2013 Young Numismatist of the Year! in this newsletter, you can earn 50 YN Auction Katie Reinders received the YN of the Year Award during the ANA’s Summer Semi - Dollars or qualify for nar Graduation Banquet on June 27. Katie is an Oregon native who is an active member steps in the ANciENt of the Pacific Northwest Numismatic Association, the Willamette Coin Club and Women coiN PRoJEct or the In Numismatics (WIN). An accomplished exhibitor, she won the YN Best of Show Award coiN PRoJEct . For at the 2011 World's Fair of Money in Chicago with her exhibit, “Oregon Centennial more information about Tokens and Medals.” She has won several awards in YN- and open-exhibit categories at YN Dollars, click here! various regional and national coin shows. “I’m really happy that I got it, and I’m really thankful, but so many other people helped me earn it. I didn't do it on my own,” Katie said. “Especially my dad, who got me excited about exhibiting and the hobby.” In the coming year, Katie will be a contributor to YOUR NEWSLETTER in its exciting new format. It was a family affair at the banquet as Katie’s father, James Reinders, was honored with the 2013 Lawrence J. Gentile Sr. Memorial Award for Outstanding Adult Advisor.

3 James is an ANA life member who has been active in YN educational efforts through 0 g

9 Boy Scout and Girl Scout coin-collecting workshops, mentoring young exhibitors and r 0 presenting general-interest seminars. James also is a member of the ANA YN Commit - 8

o tee and is the chairman of the ANA Technology Advisory Committee. . ) O 6 . y 4 C e

, e v 6 s 2 A g OUR EWSLETTER ( n This will be the last edition of Y N

IN THIS ISSUE e n

i in its current PDF form. Starting in October, o d N r

I all YN stories will be hosted on the ANA’s blog, Summer Seminar Group Pics! ...... 2 a p c

O THE EXCHANGE . This will allow for more frequent

S The History of the Dong, by Matt Tormey ...... 3 s m

a C . publication of YN-written stories. The YN-Dollar

o Coinage of the Newfoundland Dollar, by Ermin Chow ...... 4 - C d Auction hosted in YOUR NEWSLETTER will now 2

. The ANA’s Early American Copper Coin Project, by Matthew Shaw ...... 6 w a 3 be hosted at Money.org/YNAuction . New items r 6 N Young Numismatist in Action, by Walter J.G. Waholek ...... 8 -

o will be up for bid on the first Monday w l 9 8 Young Numismatist Auction, Deadline Sept. 1 ...... 8

o of each month, starting in October. 1 1 w 7 8 C YN S @ S UMMER SEMINAR ! In 2013, the American Numismatic Association awarded 43 full and partial scholarships to deserving and enthusiastic Young Numismatists for the 45th annual Summer Seminar in Colorado Springs. During the event, YNs worked hard to produce auctions that raised more than $60,000 for more scholarships in the coming years. Thanks to all the YNs who came to Summer Seminar this year. The deadline to apply for a 2014 Summer Seminar scholarships is January 31. See you next year!

2 • Summer 2013 • Your Newsletter The History of the Dong By Matt Tormey he dong is the current unit of currency issued by T the State Bank of Vietnam and circulated by the Socialist Republic of Vietnam. The term dong comes from a cross of tradi - tional and simplified Chinese. Before the institution of the dong, Vietnam was a colony of France, and as such used French currency. In 1858 when the French conquered Vietnam along with Cambodia and Laos, they North Vietnam first issued their nam suffered defeat at the hands named their colony French In - 1 and 2 dong coins on November of the communist North Viet - dochina. Seventeen years later in 3, 1946. The notes issued came namese. While the North still con - 1875 construction started on the in two arrangements, the first tinued their own currency they Bank of Indochina and ten years banknotes in denominations of replaced the South’s with “Liber - later production began of the 1, 5, 20, 50 and 100, and later in - ation Dong.” Bank of Vietnam French Indochinese “piastre.” By cluded the 10 dong in 1948, 500 issued banknotes that were in 1892 three different piastre de - in 1949 and 200 in 1950. The sec - denominations 1, 2, 5, 10 and 50 nominations were offered: one, ond form was as a credit note for Dong. These notes were printed five and twenty. The French In - 1 dong, which later included the in the years 1975-1978 but were dochinese piastre was the first 10 and 20 in 1948, the 5 and 50 in marked 1966. Vietnam currency not minted by 1949 and the 100, 500 and 1000 The date is now May 3, 1978 a domestic, feudal government. dong in 1950. and the Dong is being issued by Later when Vietnam became During this time South Viet - the State Bank of Vietnam, head - two different countries, Viet-Minh nam was minting the 1 dong coin quartered in Hanoi, and used (later North Vietnam) and the in 1960. 10 dong started produc - throughout the Vietnam. This State of Vietnam (later South tion in 1964, followed by 5 dong Dong is still the current mone - Vietnam), both producing their in 1966, after that in 1968 the 20 tary system used in that country. own currencies. From 1946-1978 dong was minted. In 1975 the 50 In 1978 the new Dong dated the two countries produced two dong was minted (in Berlin) but 1976, was starting to be minted different dongs. Communist the fall of the govern - in Berlin. It was made of alu - ment did not allow minum and distributed in the for transport to the amount of one dong. Unfortu - country due to the nately, because of post-war Northern threat. inflation, coins circulating in On September the country were almost non- 22, 1975 South Viet - existent. In more recent history, the State Bank again issued coins in 2001. This time made by the Mint of Finland in the sum of 200, 500, 1000, 2000 and 5000 dong. The Dong has been one of Vietnam’s favorite currencies serving them since the French through a civil war and still to this day. Your Newsletter • Summer 2013 • 3 Coinage of the Newfoundland Dollar

By Ermin Chow Works was forced to print notes mmediately prior to joining due to the failures of the banks the Canadian Confedera - in 1894. These banknotes came I tion, Newfoundland was a in many denominations, includ - British dominion, having the ing 25¢, 40¢, 50¢, 80¢, $1, $2, same status as , Aus - and $5. tralia, and New Zealand. In 1949, the former colony joined Copper Coinage Canada as part of its eastern - Initially, the one cent coins in most province, Newfoundland Newfoundland were signifi - and Labrador (pictured). Before cantly larger than modern pen - 1865, the Newfoundland pound and 1870, respectively). The one nies; however, they are virtually was its unit of currency, and cent denomination was minted the same size as Canadian large British coinage and privately in copper, while the remaining cents. These large cents were minted tokens were used. Its denominations are sterling sil - made until 1936, when the gov - decimal coinage was issued be - ver (92.5% silver, 7.5% copper), ernment reduced the size of the ginning in 1865 and has been reduced to .800 fine silver in denomination to save on produc - out of circulation since joining 1945. The reduction in silver tion costs. Interestingly, the Canadian Confederation in content occurred a cen - large cent was unpopular with 1949. tury after the ’s the Newfoundlanders because lead in 1920. their provincial flower appeared The Newfoundland Dollar Most of the early coinage of in an unnatural configuration. Similarly to most currencies Newfoundland was minted at Despite the numerous minute worldwide in 1865, the New - the in London, while varieties among these copper foundland dollar was based on coins bearing the “H” mintmark coins, the odd coinage die the gold standard. The dollar (pictured, on 1882 2 dollar gold arrangement of coins dated 1872 was valued slightly higher than piece) were minted at the are to be noted. It is the only its Canadian counterpart in its Heaton Mint. Later issues were one cent piece that does not use early years. Its exchange rate for mostly minted at the Royal the medal die arrangement, the widely used pound sterling Canadian Mint, denoted by a “c” possibly because the Heaton was 4 shillings 2 pence or 50 mintmark. The mintmark is lo - Mint was not told about the die pence, although after the New - cated on the bottom of the re - arrangement. The commonly foundland banking crash in 1894 verses; see illustrations for exact used medal die arrangement is dubbed “Black Monday,” it was location. Newfoundland coins when identified as a coin which devalued by 1.4%. This devalua - were not produced annually, but appears upright when flipped tion meant it traded at par with rather when there was demand over on its vertical axis, while the Canadian dollar, valued at 4 for their production. the coinage arrangement is shillings 1.3 pence. Banknotes of various denomi - identified when it remains The denominations of coinage nations were also issued by upright when flipped on its hori - issued include 1¢, 5¢, 10¢, 20¢, banks, such as the Commercial zontal axis. 25¢, 50¢ coins, and a 2 dollar Bank and the Union Bank of The small cent was first gold piece (the 25¢ and 50¢ Newfoundland. Later, the gov - minted in 1938 and bears an coins were not issued until 1917 ernment’s Department of Public image of the pitcher plant, 4 • Summer 2013 • Your Newsletter which is native Dissimilar to to Newfound - most circulat - land. All of the ing coinage at small cents were the time, this minted in Canada piece is denomi - during World War II nated as “2 dollars,” due to the risks of trans - “200 cents” and “100 port from England. Although ally different on the one cent de - pence.” made in Canada, the “c” mint - nomination. The reverse designs Although worldwide gold was mark is missing on the 1940 and on the Victorian issues are dis - not commonly used as circulat - 1942 dated coins due to an error. tinctly different from the design ing coinage, this piece was used used on the Edward VII, George for everyday cash transactions. Silver Coinage V and George VI issues. Newfoundland was the only Despite the extremely low British colony issuing circulation mintages of fewer than 150,000 gold currency. This piece is ex - for the vast majority of dates, tremely small; it is the same size these pieces are realistic pieces as the Victorian dimes in New - to own because of the relatively foundland. Mintage for this de - small collector base. Unlike nomination is extremely low, Canada and the United States, ranging between 2,500 and Newfoundland used the 20¢ 25,000, but examples can be pur - piece (pictured, dated 1904) for chased for a modest premium many years, due to its immense over its bullion value. popularity with Newfoundlan - ders. Not until 1917 was the Conclusion piece replaced by the 25¢ piece, Newfoundland coinage is a due to pressure from the Royal relatively easy and short series Canadian Mint, which minted to complete due to its few years Newfoundland coinage at that of mintage. It is enjoyable to col - point in history. The rationale lect the coinage of this former behind the preference is to sim - British colony and dominion be - plify the minting process by cause of the island’s historical using the same blanks as the significance and its simple yet Canadian quarter. charming designs. Although only The 50¢ pieces were not a small percentage of numisma - minted until 1870, and are com - tists collect Newfoundland monly available in Canada. All Gold Coinage coinage, it is a nice series for silver denominations use slight The sole denomination struck everyone to start on; it is afford - variations of the same portrait in gold is the 2 dollar piece. The able although it might be for each monarch (Edward VII denomination was chosen since slightly harder to find outside of and the George V are similar to a gold dollar would be tiny and Canada. The relatively few key the portrait used in Canada). easily lost because the bullion dates in Newfoundland coinage However, it is to be noted that value of this coinage had to cor - makes this an attractive series the portrait of Victoria is actu - respond with the denomination. to collect. Your Newsletter • Summer 2013 • 5 The United States Cent Part of the Early American Copper Coin Project

By Matthew Shaw the doors of homes and barns merica has an eventful and were thought to bring history, full of tragedy good luck. A and victory, peace and The next coin in the time - war, scarcity and wealth. Noth - line of American cents is the ing expresses this story better Flying Eagle small cent. The than the coinage of our coun - Flying Eagle was produced try, and no U.S. coin has re - the chain was replaced with a from 1857 to 1858 with 2,000 mained unchanged since the wreath. Details were added to made in 1856 for Congressional start of our nation in 1776. the coin in an attempt to make approval. The eagle on the coin American coins reflect history it more visually appealing. The was an adaptation of the eagle through the topics they repre - public did not accept the coin on silver dollars from the sent, the symbols they display, however, and it too was soon re - 1820s. The wreath on the re - the technologies used, and the placed. Many more coins were verse was borrowed from the resources available at the time. created, including the “Liberty 1843 one dollar and three dol - They tell our nation’s story. Cap” design, the “Draped lar gold pieces. These new Bust,” and the “Matron Head.” smaller cents weighed less and Each one more lavish and de - were composed of 88% copper tailed then the one it replaced. and 12% . On May 25, The design of the American 1857, when the cents were first large cent ended with the released, over 1,000 people “Braided Hair” large cent. This gathered at the mint to ex - version lasted from 1840 to change their silver Spanish The first American large 1857 and is praised as one of coins with copper cents. The cent, minted in 1793, had a the most advanced American Philadelphia Bulletin depicted very crude and basic design. coins of its time. The large cent the scene: “Every man and boy Lady Liberty appears fright - was still not very practical due in the crowd had his package ened, and her hair is seemingly to its low denomination, its of coin with him.” blown back. The depiction of copper value, and the fact that The Flying Eagle cent is one chains on the reverse side of it was cumbersome to carry. In of the most popular and col - the coin was very unpopular in fact, many people put holes in lectible American coins to this budding nation that had the large cents and wore them date. The mint estimated that just won its independence on chains around their necks it struck 42,050,000 Flying from England. Many merchants as a home remedy for arthritis. Eagles and re-coined about refused to accept these coins, These cents were also nailed to $2 million worth of foreign not wanting them in their silver pieces into American stores. coins. The single downfall of The next minting of a large the coin was its high relief cent, the 1794 Wreath cent, which prevented the Flying portrayed Lady Liberty with Eagle cents from being flowing hair. On the reverse, stacked. Hence, in 1859 the

6 • Summer 2013 • Your Newsletter eagle motif was replaced with materials. The steel cents the head of an American Indian. were very unpopular, however, The was because they were easily con - minted from 1859 to 1909. Its fused with dimes. Also, once original reverse design was the shiny zinc wore off, the changed in 1860 to add a shield steel corroded easily. These to the top of the wreath, now coins were rejected by vending made of oak leaves, and a bun - coin shows Lincoln’s bust, and machines, because the anti- dle of arrows at the crux. The on the back is two sheaves of fraud technology detected cent was cast with the same wheat. In 1909, reports of the them as slugs. materials as the Flying Eagle, new coin came to public atten - Our cent design until 2009 but in 1864 the American cent tion, and the American people started mintage in 1959 and changed composition and was loved their national hero, Abra - was produced until 1982 as the once again made from almost ham Lincoln, honored on a coin copper alloy cent. It was com - pure copper. The coin circu - that included the words “In posed of 95% copper and 5% lated for 50 years before being God We Trust.” Because of the tin and zinc. The bust of Lin - replaced by the Wheat cent. immense popularity, the mint coln on the obverse is the same stuck more than 25 million of as the former Wheat cent, but the cents before releasing the reverse side changed from them on August 2, 1909. the dual wheat sheaves to the Behind the scenes, however, Lincoln memorial. The metal now noting that Victor David composition changed in 1982 Brenner’s initials were carved and is now 97.5% zinc and very prominently on the Wheat 2.5% copper, but the design cent, Mint officials were dis - remains the same. turbed. Even though U.S. Mint Chief Engraver Charles Barber approved the size and place - ment of the initials, many found it arrogant. The letters were soon removed, but many be - believe that Barber wanted lieved that American coins more credit for the making of These coins are America’s were dull and boring, espe - the Wheat cent and became history. They reflect our na - cially when compared to those jealous of Brenner’s fame. tion’s beliefs and struggles, our of European nations. His idea successes and strife. Modifica - of displaying tions to our coins are a re - on a coin came about when he sponse to growth, changing saw the bronze plaque of Lin - technologies, fluctuating coln that Victor David Brenner economies, and international had created. Before this, it was struggles. In order to maintain unheard of for any person, popular interest, the U.S. Mint alive or deceased, to be shown In 1943, with the advent of continues to issue variations on a regular-issue United World War II, pennies were on the iconic as States coin. The only personifi - produced with steel and coated commemorative sets. The cation in the past was Lady in zinc because copper was in United States cent tells our Liberty. The front of this new such high demand for war nation’s story.

Your Newsletter • Summer 2013 • 7 YN Profile Walter J.G. Waholek ANA member 3166676

Hello! My name is Walter J.G. with the hope that some of the Waholek. I am active in two local older club members will ANA member coin clubs in partner and help me Philadelphia. A member since with my subject of the August 2012, I enjoy learning month. So far each Allies, but what was and doing talks and exhibits. I month, more step to truly liberated by applied for the summer seminar the plate. I have our conquering War - 2013 and was awarded a partial many interests and riors and brought scholarship. The Train Collector’s activities in addition home as souvenirs. Association was impressed to numismatics, and I I also decided to by my presentations partnering believe I can partner enter the U.S. Mint LIONEL Mint cars and coins in these with coins and add Kid’s Baseball Design November, and dedicated two additional interest in my subject Challenge contest. I had two de - pages in their last issue of the of the month. January I did a signs in mind and thought “let Kids Club News “Keeping Track.” presentation on a detectorist the club members choose what I created a monthly talk / ex - friend of mine that lives in they think the best design.” I hibit agenda of subjects for 2013 . He recovered a cast iron must admit, I’m not the best bank full of silver dimes and artist but thought I would give it one quarter. a try. I had attended the 70th In February, the theme was Birthday party of John Mercanti, Indians on coins, which allowed a Chief U.S. Mint designer and preview of National Coin Week. engraver (retired). I am greatly March was Traction focusing on impressed with the work of Mr. tokens and the end of the line for Mercanti. My favorite, and focus them. Philadelphia will phase of my collection, is the obverse them out in 2014, the last major of the Silver Eagle. Go to city where they are still in use. kidsbatterup.challenge.gov and April of course was focused on check out my entry in the 10-13 National coin week. The clubs category, “Baseball lives in the took advantage of the ANA’s gen - hearts of America.” erous offerings. I gave a preview Pictures say a thousand words, on my May presentation which so here are images of some of my will be based on the coinage of projects. My goal is to someday Liberation. This will include not exhibit at an ANA show. Thanks only what was introduced by the for listening and looking.

r LoT #1: 1979 official LoT #2: Mint sealed burlap bag of uncirculated a n

l Israeli Mint Set ohio state quarters from the Denver Mint l o No minimum bid (pictured) 100 quarters total. i o

t Minimum bid: 30 YN Dollars c D

u YNs may bid on one or both items, but only with YN Auction Dollars. Bids must be in by Sept. 1 and can be submitted via

N e-mail to [email protected] . In case of a tie, the first person to submit the winning bid is the winner. (To learn A more about earning YN Dollars, visit the YN section of the ANA website.) Y

8 • Summer 2013 • Your Newsletter