RALEIGH COIN CLUB NNeewwsslleetttteerr Established in 1954 March 2003

In This Issue The ANA Comes to Charlotte!

ARTICLES In a just a few short weeks, the American Numismatic Association (ANA) will be coming to Charlotte for its annual The ANA Comes to Charlotte! National Money Show™. The show, with a full schedule of The Quest Continues: educational programs (more than 30 hours worth!) and club Straights and Otherwise meetings, plus a bourse with more than 200 dealers, will Small Change - Part 22: offer something for everyone! Burma & Thailand If you’ve never been to a “big” coin at the ANA show on behalf An 1838-M Eight Reales coin show, this is your chance to of its owners, who wish to Of North Peru attend one of the largest without remain anonymous. the inconvenience of a long trip! Top Ten Reasons to Go to The show will open on Friday, The Charlotte Mint issued its Charlotte for the March 21st at 10:00am and run now rare $1 gold pieces—the ANA National Money Show through Sunday, March 23rd at smallest of American coins—the 2:00pm. first year they were authorized by Congress (1849). However, REGULAR FEATURES Among the special exhibits no records exist that shed any planned for the show is the light on why only four of that Club Business display of the “King of Southern mint’s open-wreath gold dollars Gold Coins.” The “King” is an remain today. “The story about President’s Message 1849-C , Open this coin may be lost to the past, Wreath variety. Produced for but for us it is a wonderful piece regular circulation nearly 155 of history returning home,” says Numismatic Showcase years ago at the United States Jerry Sajbel of Charlotte, who is Mint’s first branch in Charlotte, the general chairman of the Numismatic News from this $500,000 coin has a past ANA National Money Show. Outside the Triangle shrouded in mystery. Only four “This is a once-in-a-lifetime examples of these 1/2-inch gold opportunity to see this and other Show Calendar coins are known to exist, and great rarities that represent the none were discovered until the history of this city and state.” late 1920s or early 30s, the last The “King” will join an assort- in 1978. New Orleans-based ment of other historic Charlotte rare coin dealer Blanchard and Company will exhibit the gold See Charlotte ANA on page 7 Raleigh Coin Club Newsletter March 2003 Club Business Page

The Raleigh Coin Club February Meeting Notes

Editorial Address: PO Box 354 The February RCC meeting was attended by 20 Morrisville, NC 27560 members and two guests. [email protected] Bob Schreiner, Bourse Chairman for our annual Business Address: PO Box 18801 show, stated that twelve dealers have committed to Raleigh, NC 27619 tables thus far. As a reminder, the show is scheduled for June 28th and 29th at the Kerr Scott Building on the NC State Fairgrounds. Club Officers No significant progress was reported regarding working with local radio and TV outlets to promote President Paul Landsberg the club show. Kent Woodson agreed to pursue Vice President Bob Schreiner contacts at WRAL TV and James Hearn agreed to Secretary David Provost talk to Alex Armstrong about past efforts that were Treasurer Kent Woodson successful in yielding coverage by the local media. Sergeant-at-Arms Thomas Powell It was agreed that the design of the mailer used Directors (Term Expiration) to promote the annual club show would be re- Halbert Carmichael (2003) examined to determine if it was possible to put Dot Hendrick (2004) additional club information on it without losing David Boitnott (2005) details about the show. Dave Provost agreed to mock up a few potential designs and to present them at the March meeting.

Club Affiliations An exhibition of the work of Augustus St. Gaudens at the NC Museum of Art was announced. The exhibition runs from February 23rd through American Numismatic Association th Member #C-79478 May 11 .and includes approximately 100 objects that survey St. Gaudens’ entire career. Museum Blue Ridge Numismatic Association press releases indicate that special attention will be BRNA Member #C-3383 paid to the sculptor's public commissions/ Eastern States Numismatic Association celebrated monuments. St. Gaudens’ numismatic ESNA Member #0026 (Life) work will also be represented. North Carolina Numismatic Association NCNA Member #C-14 (Life) The upcoming ANA Show in Charlotte was discussed and members were encouraged to attend. Several RCC members are actively participating in the management of the show — Contents Ó Raleigh Coin Club 2003 Bob Schreiner is the Education Program Chairman The RCC grants permission for the reprinting of any responsible for overseeing the various Numismatic article contained herein (except for those already Theater presentations and Halbert Carmichael is copyrighted by the author) for non-profit educational the local Exhibit Chair for Charlotte. Halbert, David purposes provided that the RCC Newsletter and the Boitnott and Dave Provost will be speaking at the original author are cited as the source for the show (details are elsewhere in the newsletter). material. See Meeting Notes on page 3

Page 2 Raleigh Coin Club Newsletter March 2003

President’s Message Meeting Notes Continued from page 2 Hello and welcome to March! I have to admit that the winter weather in NC has truly baffled me. Several exhibits by RCC members will also be on First we have rain, rain, rain. Then we have some display at the convention. ice, then some rain, a few days clear and then some ice. Living in New York I knew that when The annual numismatic seminar at UNC was there was cold weather, it was gonna be there the discussed. This year’s event will take place on next day, the next week, and the next month! It Saturday, May 3rd and will once again be held at was so warm in Raleigh today some crazy guy had the Wilson Library on the Chapel Hill campus. This his kids running outside without shoes (grin). year’s theme is “First Flight Centennial.” The day- long program will feature talks about the coins and On the numismatic front, my daughter has been currency in circulation in 1903, along with a the unwittingly turned into a young numismatic large variety of tokens and medals related to the ambassador for her first grade class. They have Wright Brothers, Kitty Hawk and the first flight. A weekly “guess the item” games (the child writes 3 commissioner of the NC First Flight Centennial will clues and people must guess based on the clues) be on hand to discuss centennial events being and over this past month I have supplied her with a planned around the state in 2003. He will also piece of leather currency from 1920s Germany and discuss the Wright Brothers commemorative coins a two dollar bill. Hmmm, now that I think about it, due to be released later this year. All RCC’ers I’m not sure if I ever got that two dollar bill back!! I were encouraged to put the seminar on their guess she is not the only one learning a lesson! calendar and to make the short trip to Chapel Hill for the event. The ANA National Coin Week is from April 20th to April 26th this year and the theme for this year is The evening’s program was given by Kent “The Tale of the Coin.” The ANA wants collectors Goddard who discussed the collecting of paper to share stories about coins; the people, places and currency. Kent spent part of his time discussing the objects depicted on money; and the many grading standards used for paper money and collectors, past and present, who collect and study compared and contrasted coin and paper money coins. In past years we have talked about a library collecting. Much interesting discussion took place display or an information booth at the flea market during and after the formal presentation as held weekly at the State Fairgrounds. Although members engaged in a lively Q&A session. Kent both were sound ideas we never seemed to do also passed around a few binders housing parts of either one so I’d like to have a discussion at the his currency collection. Kent received a 2003 silver March meeting on what we can do this year. American Eagle coin for his efforts.

I also hope that Dave P has done some work The Bid Board offered more than a dozen lots and can bring back a sample copy of an updated from four members; more than 50% of the lots sold! RCC postcard that might help point people at the The Bid Board will continue to be a regular part of Raleigh Coin Club. Also, I hope to have an future RCC meetings, so please bring items that updated flier that we distribute to club members you are ready to put back into “circulation!” who will leave them at local shows that have information tables at the front. Due to a logistical mix up, no member door prize was given away nor were any prizes raffled As a final note, we will once again have the Bid off at the February meeting. (We’ll make up for it Board set up during the refreshments break so by giving away two member prizes at the March please bring along a few items that you think might meeting and adding a few extra raffle prizes to the interest other members!! Oh, I hope to see a offerings!) majority of the RCC members at the ANA!

Numismatically Yours, Paul Landsberg

Page 3 Raleigh Coin Club Newsletter March 2003

Straights and Otherwise

By David W. Boitnott

Last time we discussed the process by which Multiple straight clips although theoretically planchets are manufactured for coining and the possible at a corner are practicality unknown on results on the finished coins of one possible break- any coin. Also, one can imagine how circumstances down in that process. This time we will could arise that would result in a straight look at two additional breakdown clip and a curved clip appearing on the possibilities in the process and the neat same coin. These circumstances have error coins that can result from each. such long odds that these are also practically unknown on any coin. First, remember that the coils of clad However, combination errors do exist. material received from outside Due to their odd shape, clipped contractors are about thirteen inches planchets sometimes have trouble wide and have straight edges at both feeding properly into the striking the beginning and end. Well, what chamber resulting in a striking error would happen if at the beginning of the occurring on top of the previous coil or at the end of the coil the punches planchet error. The PCGS certified coin overlapped the edge? Or, what if during in Figure 2 is an example of this. the production run the coil tracked to left Surprisingly, this 15% straight edge or right enough to expose the end clipped planchet that was also punches in the gang punch arrangement broadstruck is one of two seen and to the edge of the coil? The answer is a noted in my census during this quest. tnew error type – the “straight” or “straight edge” clip.

Straight edge clips, like their cousin the curved clip, are described by the percentage of material clipped or missing and the location of the clip as an hour on the clock face. (Please review last month’s installment on how to calculate these attributes.) While comparing the straight edge clip to its cousin, it is much scarcer than the curved clip. As evidence, my unofficial census of North Carolina errors has only turned up five straight clips during the same period that I encountered 20 single curved clips. Figure 1 shows a straight clipped Figure 2. Combination straight clip North Carolina quarter. at K3 and broad strike. (Shown at 200%.)

The next error type we will look at this month is the elliptical or oval clip planchet. This error type is the result of a combination of breakdowns in the blank punching process. First, the punching process is stopped in mid-punch by either someone stopping the machine or a mechanical jam. The coil under the gang punches is only partially pierced but still intact. Then, when the jam is cleared or the machine is restarted the coil is only Figure 1. Straight clip at K3 advanced a small amount. The next set of

Page 4 Raleigh Coin Club Newsletter March 2003 blanks punched will have an arced cut across them money!” so I went back to get the elliptical clip – it from the first aborted punch. Typically, these was sold! As part of the quest, I search eBay every blanks split apart during handling of the blanks. day and call many major error dealers on a regular The drawing in Figure 3 shows how the blank basis inquiring about North Carolina errors — for would look before and after splitting. sixteen months I thought I had blown it! Then one appeared on eBay! I had to pay over $125 more than what that first one was offered to me for, but, I was happy to win it. Then another appeared the next week! I bought it too for a fellow club member. Since then I have seen three more and the price seems to be slowly creeping up. My unofficial total census is six. And, if there is a moral to this story then it is – when collecting error coins grab them when you can!

Finally, the third error type that can result from the above scenario is the curved clip I alluded to at the end of last month’s installment. Called a clip, which is technically any clip greater than 60%, it is extremely rare outside the Mint as Figure 3. Creating elliptical and crescent clips. they easily fall prey to the Mint’s mechanical quality control measures. In the course of this quest I Three error types can result from the above have yet to see one on a North Carolina quarter scenario. When the blank survives the handling although I seem to recall one on one of the earlier without splitting an error known as an “incomplete statehood issues. punched curved clip” is created. The finished coin looks normal except it has a sweeping depressed Well, it seems we end this month where we did arc across its face. This error type is quite scarce last month talking about curves. I promise next as most often these double punched blanks break time there will be no more curves. But, we might apart during handling. I have not seen this error on split a few hairs or planchets in our continuing any statehood quarter. discussion about incomplete planchets.

Although very scarce in its own right the most frequently seen error resulting from the above scenario is the elliptical clip. The oval or elliptical portion of the now broken apart planchet once Bonus Image struck most closely resembles a round coin and can get through many of the Mint’s quality control Here’s an interesting NC quarter double clip devices and find its way into a coin roll. Both the that wasn’t included with last month’s installment. planchet and resulting coin have been described as It’s a 5% double clip at K-3 and K-8:30 — it looks like the Wright Flyer has had its wings “clipped!” looking like a football or, for those familiar with Norm Abrams on the New Yankee Workshop, a woodworker’s biscuit.

Interestingly, an elliptical clip was the first major North Carolina error coin offered to me during my quest. But, due to having just been laid-off and having placed a ridiculously high bid on a Clinton first-term inaugural medal process set, I initially passed on the coin. After the auction in which I won the process set, I decided “What the heck, it’s only

Page 5 Raleigh Coin Club Newsletter March 2003

Small Change – Part 22: Burma and Thailand

By Halbert Carmichael

Burma, currently going under the name of He was succeeded by his brother Bhumifhol, and Myanmar, was a British colony between 1886 and similar coins were issued with his young portrait in 1948, but the Brits never struck a specific coinage 1950. The next issue of the coins in 1957 had a for it. In 1949, an independent Burma struck similar portrait, but with two extra medals on his coinage using a system of four pyas to the pe. A chest. Ergo: four more coin types. The coins were four coin set on a binary scale from two pyas to also struck in aluminum-bronze. More types. eight pe showed only a sitting lion on one side and Burmese characters on the other. This lion, of the Beginning in 1957 one bhat coins were issued Chinese style, could only have been designed by first in German silver and then in cupro-nickel with someone who had never seen a real lion. different reverse designs each year.

An 1838-M North Peru Eight Reales

By James Hearn

As a collector of the coinage of Peru, I do not Figure 1. 1949 2 Pe. often get the chance to add to my collection while attending small, local coin shows. Large shows, The coinage was decimalized in 1952: 100 with their far greater selection of foreign coin pyas to the kyat. Four denominations were issued dealers, provide me with a much better chance. fairly regularly until 1966, when a military So, it was with great anticipation over what I might government took over. A set of four coins in the discover that I traveled to Florida for this year’s same denominations with the portrait of a general FUN Show. were issued in 1966 and then nothing further until one coin was issued in 1975. The potential for new discoveries in Latin American numismatics dwarfs the potential of its The twentieth century monetary system of North American counterpart. Why? Generally, it is Thailand is 100 satang to the bhat. Nominally an a matter of far less complete mint records. Much of ally of the Japanese in World War II, Siam, now the recorded operational history of the Lima Mint, known as Thailand, did not suffer during the war. for example, has been destroyed or lost over the The occupation was benign, there was no fighting years. This gap in official history opens the door for in the country, and the existing Thai government collectors to “discover” new types and/or varieties continued in place after the war. A series of holed and to broadcast the news of such discoveries to five, ten, and twenty-five sating coins were issued the general numismatic public. As it stands, in 1945 bearing the Buddhist Era date of 2488. research in this area is just now being developed The designs were ornate, but there was a minimum and coming into its own. of text. The coins were made of tin. While at the FUN Show, I came upon a variety In 1946, coins, including a fifty sating, were of an 1838 Eight Reales of North Peru that I did not issued with the child portrait of the boy king, have in my collection. The obverse of the coin, Ananda. Within the year, the portrait was updated shown in Figure 1, has the Coat-of-Arms of North to that of a young man. King Ananda died under mysterious circumstances before the year was out. See Eight Reales on page 10 Peru as its main design element. The shield Page 6 Raleigh Coin Club Newsletter March 2003

numismatics, from state quarters to world coins, Charlotte ANA and help them complete requirements for their Continued from page 1 respective badges. gold pieces, valued at more than $250,000, Before the show even begins, the ANA will be displayed by Douglas Winter Numismatics of offering its three-day seminar “How to Grade U.S. Dallas, Texas. Author of the reference book Coins” (March 18-20). It provides intensive, hands- Charlotte Mint Gold Coins: 1838-1861, Winter is a on study of more than 1,000 coins under the consultant to the Mint Museum of Art, which once tutelage of expert graders from Numismatic housed the city’s coin production facility. Guaranty Corporation (NGC). Seminar students will learn how U.S. coins should be graded according to More than 40 educational exhibits prepared by the latest ANA and market standards. They also will ANA members will also be on display. The exhibit participate in group discussions and one-on-one area at an ANA show always showcases the instruction. diversity of collecting interests seen in the organization’s members and is well worth the time it The Show’s Numismatic Theatre (NT) schedule takes to review its offerings. Halbert Carmichael is begins at 11:00am on Friday and extends through the local Exhibits Chairman for the show. Several 2:00pm on Sunday. Several RCC members are RCC members will be placing exhibits at the show. featured on the NT schedule: Educational programs at the Show will cover · Dave Provost will present “Collecting North topics from local to international interest for new Carolina History,“ which will offer an overview of and seasoned collectors. “From our Numismatic NC’s colorful history as told by its numismatic Theatre and coin grading seminar to an introduction commemoratives. (Friday -- 2:00pm) of the hobby and an opportunity to meet with the director of the , the informational · Halbert Carmichael will offer “Twelve Centuries of the English Penny,” a look at the evolution of programs in Charlotte are beyond compare,” says the longest-running denomination in history. Gail Baker, ANA director of education. “Bob Schreiner, Charlotte education program chairman, (Friday -- 3:00pm) and I have put together a great lineup of · David Boitnott will discuss the many varieties of Numismatic Theatre presentations that cover mint-struck error coins seen on NC statehood everything from North Carolina gold prospecting quarters in "Collecting Error North Carolina and Confederate coinage to the English penny and Quarters" (Sunday -- 2:00pm) Byzantine coins.” A complete Numismatic Theatre schedule can “And this year, we are launching a class for be found on the ANA’s web site at www.money.org. first-time attendees called “Coin Collecting Basics,” Check with Bob at the March RCC meeting for Baker adds. On Saturday and Sunday, March 22 more details. and 23, ANA Research Librarian Jane Colvard and Museum Collection Manager Christopher Connell The ANA’s National Money Show in Charlotte will acquaint visitors with collecting and the bourse. will definitely be the highlight of the NC numismatic ANA Past President and Executive Director calendar in 2003, so make your plans now to Emeritus Ed Rochette will provide special tours of attend. You’ll be glad you did! the exhibit area as part of this free class.

United States Mint Director Henrietta Holsman Did you know… Fore will hold a “Mint Business Forum” at 9 a.m. on Saturday, March 22, where collectors, dealers and That 2003 is actually the second time that the public can comment and ask questions about Charlotte has hosted an ANA convention? the Mint’s programs and other related issues. Charlotte also hosted the ANA Mid-Winter At 2:00pm on Saturday, a Boy and Girl Scout Convention in 1987. collecting clinic will introduce scouts to

Page 7 Raleigh Coin Club Newsletter March 2003

North Carolina Numismatic Showcase

By Dave Provost The ANA National Money Show Commemorative Medal

In a break from the norm, a medal has been produced to commemorate this year’s ANA National Money Show in Charlotte. "This convention medal is indeed special for the ANA's National Money Show," says ANA Convention Manager Brenda Bishop. "Usually, there is no medal issued for our spring convention, but the Obverse of the Charlotte ANA local committee worked to get this very nice piece Commemorative Medal produced.”

The medal, designed by Tom Skinner of Charlotte, features the modern skyline of Charlotte on the obverse and the Charlotte Mint building on the reverse. Today, the 19th century Mint building houses the Mint Museum of Art.

The museum, opened in 1936, is the oldest art museum in North Carolina. While the original Mint building forms the core of the current museum facility, it is not located on its original site. In 1933, with urban development threatening its existence, the Mint building was purchased by a group of preservationists for $950 and moved from its location to its current site on Randolph Road. Reverse of the Charlotte ANA The 0.999 silver medals have been struck by Commemorative Medal SilverTowne of Winchester, Indiana; they are 1-1/4- inches in diameter. Word from representatives of the Charlotte Coin Club is that the medals are RCC Membership Dues for selling well. Medals are expected to be available at the ANA show for $25 with a limit of two per 2003 are now due! person. Proceeds from the sale of the medals will Please see Kent Woodson at the March benefit the Charlotte Coin Club, one of the co-hosts meeting or mail your dues check to the of the show (the North Carolina Numismatic club’s Post Office box. (See page 2 for Association is the other co-host). address information.)

Adult membership is $7.00 YN membership is $3.00 Family membership is $10.00

Page 8 Raleigh Coin Club Newsletter March 2003

A Numismatic Diversion

Currency Denominations From Around the World

F E S C U P K L I G F R A N C T S O S E P E E N R U O P C O U M A F B A O L L O A T H A B T L A C U W S U C R E N O Y T K N A R O N R H N E N I D P A R T F E K L E U I D A R I A Y D I N A R K O E A L O K W A K W O M E T S A N P K L P O R S A M L I R N I F R U Y I P I F H O L L Y E U R O U R A N L O C L I N A T O P E D P O U G F A M H C A R D Q Y Y U E E J I W U D O L M P A S E O C A L S K R O N A S T E R N I T S H B A H D K T A R I P M E L I E G U L D E N K R O J E R D A T S T R A F G P A N D B O L I V A R

There are at least 26 different currency denominations hidden in the letter jumble above. Here is a list containing 25 of them. Can you find the 26th?

Baht Drachma Krona Markka Real Bolivar Escudo Kwacha Peso Ruble Colon Euro Kyat Pound Rupee Dinar Franc Lempira Punt Shilling Dollar Gulden Lira Rand Sucre

Show Calendar

March 14-16 Baltimore, MD Baltimore Coin & Currency Convetion Baltimore Convention Center, 1 West Pratt Street

March 21-23 Charlotte, NC ANA National Money Show Charlotte Convention Center, 501 South College Street

April 5-6 Wilmington, NC Azalea Festival Coin Show American Legion Hall, 702 Pine Grove Drive

April 5-6 Greensboro, NC Triad Regional Coin & Stamp Show Oriental Shriner’s Club, 5010 High Point Road

Page 9 Raleigh Coin Club Newsletter March 2003

Eight Reales Top Ten Reasons to Go to Continued from Page 6 Charlotte for the ANA National Money Show

By Paul Landsberg

10. Drive 3 hours, find football fields of coin dealers!!! 9. It ain’t getting much closer to Raleigh! 8. Get to see Halbert’s bright red jacket moving at supersonic speeds! 7. 3 days, hundreds of thousands of coins! 6. Numismatic Theater – no Shakespeare but tremendous fun. 5. Over 200 dealers and every one of them cutting massive deals! 4. Tons of educational exhibits covering anything and everything Figure 1. Obverse of 1838-M Eight Reales 3. Get to see more ancient coins! of North Peru. 2. Find out what Provost’s exhibits look like when truly finished Two other assayer’s marks can be found on North Peru 8 Reales struck from 1836 to 1839 — AND TM and MB. From the research I have conducted via auction catalogs, dealer price lists and other 1. Charlotte is extremely close considering that similar means, the M variety appears to be the the ANA National Money Show is literally a scarcest of the three. national event. Anyone who enjoys coins, paper money and medals would be foolhardy I was happy to purchase the piece and look to not take advantage. Lodging is inexpensive forward to the next big show and the “discoveries” around Charlotte. You can do the drive on a that await me! tank of gas. Folks, GO!!

Write for the RCC Newsletter!

Your newsletter editor is ALWAYS seeking articles, anecdotes, tall tales, tidbits and other sequences of words (or pictures) related to numismatics for publication on these pages!

Please see me with your ideas at a Figure 2. Reverse design featuring a standing club meeting or send them to me at figure of Lady Liberty. the editorial address on page 2.

Page 10 Raleigh Coin Club Newsletter March 2003 NUMISMATIC NEWS FROM OUTSIDE THE TRIANGLE

2003 £2 Silver Britannia Now Available

The British Royal Mint has announced the availability of its 2003 Silver Bullion Britannia £2 Coin. The 40mm coin is struck in 0.958 silver and contains one ounce of pure silver. The coin has the distinction of being Britain’s largest legal tender coin as well as its purest silver coin (UK silver coins are typically struck to a fineness of 0.925, otherwise known as “sterling.”)

The reverse of the coin features a design by award-winning sculptor Philip Nathan. It depicts Britannia wearing a helmet in her brave defense of British shores. Britannia's image is steeped in history, having been featured on a coin of every British monarch since the reign of Charles II. Britain’s proud naval history — from Alfred the Great to the present day — is symbolizes by the rolling wave is integrated into the design.

The obverse of the coin features a portrait of Queen Elizabeth II. The current portrait, introduced in 1998, is the work of Ian Rank-Broadley FRBS, FSNAD. This rendition is the fourth to be used on the coins of United Kingdom. The Queen, depicted wearing a tiara, continues to be shown facing right, in accordance with a tradition dating back to the seventeenth century, where successive monarchs face in alternative directions on the coinage.

The coins are struck to a brilliant uncirculated finish with a total mintage of 100,000. The coins are available directly from the British Royal Mint for $19.95. Check out www.royalmint.com for more information.

Numismatic Trivia

Can you name each of the US coins that depict two different US Presidents?

(The answer will be available at the March meeting and will be published in next month’s RCC Newsletter.)

Page 11 March Meeting Notice

Thursday, March 13, 2003 7:30 PM

Program Collecting North Carolina History

Presented by Dave Provost