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July, 2005
Year 12, Issue 7

Award Winning Newsletter

Meeting 7:30pm, Wednesday, July 6
Talk and trading 7:00-7:30pm
VFW, 1601 Weld Road, Elgin, IL
815-786-6779

Not a member? Come and join us anyway!
Give your spouse a break and bring your children to the club.

July Program

This month's program will be a general trading session. So bring in coins you wish to trade or sell.


June Minutes

ECC Meeting 568
Opened:   7:30     Closed:   8:35
Members:   23     YNs:   1
Guests:   0         
Beginning balance:   $220.23     Income:   $83.00
Expenses:   $87.00     Current balance:   $216.23

Doug called the meeting to order at 7:30. The Secretaries and Treasurers reports were accepted as published. Old and new business was discussed and show and tells were given. The scheduled program was cancelled at the last minute so we held a general discussion session. After the program, we took a break to sell raffle tickets and the drawings were held. The meeting adjourned about 9:00 PM.

Secretary's Report

Accepted as printed in June's newsletter.

Treasurer's Report

Balance:   $220.23.
The report was accepted.

Old Business

Fantasy coin contest

  1. Jim D. 29,500
  2. Debra 28,825
  3. Bob 28,600
  4. Marty 26,000

Anyone wishing to join the game see Jim D. at the meeting.

New Business

Fliers for this years coin show are being prepared and will be available soon.

Prizes

We had our customary raffle and membership drawings. The winners were:

The meeting closed around 8:35 P.M.

Submitted by Jim D.


Board Meeting

On June 8, Doug, Don, Jim and Steve met at Don's house to discuss club business and select prizes for July.

Submitted by Jim D. secretary


Shows


Show and Tell


Editorial

2001-S Sacagawea dollar. Over the last couple of years I have been following the rise in price of the 2001-S Sacagawea dollar. Currently the price for a raw coin as advertised by several dealers in the trade papers is about $95.00. I don't know if it is the demand for this coin that has pushed the price for 2001 proof sets, both clad and silver, to between $125 and $175 or demand for the sets that has caused the price for the dollar coin to rise. Either way these are not rare coins in any sense. The dollar is available in both the clad and silver set and according to the red book has a net mintage of over 3 million. Compare this mintage to a much scarcer recent coin, the 1998-S matte finish Kennedy half dollar. The Kennedy half has a mintage of 25,000 and a value of about $350.This leads me to believe the sacagawea dollar is a bit overpriced, but that's just my opinion, I could be wrong.

Going to an auction. On june 12 I attended an auction presented by D'Atri auctions in Downers Grove. If you know what to look for an auction can be a good source of coins for your collection. As a collector the key to finding good bargains is to follow a few common sense guidelines as follows.First check out the auction catalog to determine if there are coins you wish to bid on. Second set a maximum budget you are willing to spend and stick to it. Once you have done this go through the lots you want and set your maximum bids accordingly. I like to set three levels of bidding, a high, a medium and a low depending how accurately a coin is graded. If a coin is worse than what the catalog says I bid lower if it is better than described I may go higher. Remember if a coin goes for more than you are willing to bid, let it go there will always be another chance to get that coin. At this particular auction there were several interesting lots. All prices listed include the buyers fee yet another factor to take into consideration when making your bids.

The highlight of the sale was a copper bar with the impressions from the original Confederate cent dies produced in 1960. This historic piece number 91 of 250 sold for $473.00. As for me I only purchased two lots of the half dozen I wanted. I purchased a BU morgan Dollar and a Colorized silver eagle.

Dating Thailand coins. Last month during show and tell a member had a set of coins from Thailand. This brought on a discussion on how to tell when these coins were minted. Thailand is unusual in that it has used as many as three calendars and two during the 20th. Century. The first is the Ratanakosindsok (R.S.) era which is convertible to A.D. dating by adding 1781 to the R.S. date. For example RS 127 is the same as 1908 AD. The most common calendar and the one currently in use is the Buddhist era (B.E.). To convert this date to A.D. you take the BE date and subtract 543. For example BE 2516 is the same as 1973 AD.


Coin of the Month

Coins of many nations

This month's coin of the month is not a single coin but a collection of coins of the world. The goal of this project is to get a single coin from as many nations as possible. This can be both an easy project for beginning collectors of a challenging project for more experienced collectors. If you choose to pursue this project there are a few guidelines to follow. First there are no rules in a collection like this. What one considers to be a complete set may be very different from another's vision of the same. Even the question on how to organize and display said collection will vary from person to person.

When I began my collection the first thing I did was purchase the supplies needed to display my collection.Since most coins in the set are going to be very inexpensive I decided to go the cheap route. First I purchased a three ring binder at a garage sale for a dime, then I went to a photo supply store and bought some plastic pages used to display photo slides. I was able to purchase a package of 25 for about $5.00. Finally I obtained several sizes of 2x2 flips at a coin show for $3.00 per hundred. My next move was to decide how many coins to include in my set. At my local library I used the Krause catalog and wrote down all the countries I wanted to collect on little slips of paper. To keep things manageable I limited myself to coins of the 20th. Century. When I was done with that I took those slips of paper and arranged them alphabetically in the album. With that task finished then I went to the coins I already had and started sorting. My first time through the world coins I had I found I had a little over 100 different. This was a little over a third of the way to my goal of 269 different. Subsequent trips to various coin shows, the most recent the Mid-America coin expo my collection has grown to 220 out of 269. Over the next few months I look forward to adding to this collection. Embarking on a project like this may not appeal to all collectors but it reminds me why I started collecting in the first place. That is to set a goal, make a plan complete the plan and learn something in the process.


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