Meeting 7:30pm, Wednesday, Nov 2
Talk and trading 7:00-7:30pm
VFW, 1601 Weld Road, Elgin, IL
This month's program will be a white elephant auction. Please bring items you think the other members may like. Proceeds go to the club so please be generous.
|ECC Meeting 572|
Doug called the meeting to order at 7:30. The Secretary's and Treasurer's reports were accepted as published. Old and new business was discussed and show and tells were given. The program was a video on the shipwreck and salvage of the S.S. Republic. After the program, tickets were sold and drawings were held. The meeting adjourned about 9:00 PM.
Accepted as printed in October's newsletter.
The Treasurer's report was accepted.
Fantasy coin contest
A motion was made to charge members $5.00 for this years Christmas dinner. A motion was also made to increase the cost of a table at the 2006 coin show to $35.00. Both motions were passed. The date of the 2006 coin show is Oct. 29th.
We had our customary raffle and membership drawings. The winners were:
The meeting closed around 9:00 P.M.
Submitted by Jim D.
On October 12, Doug, Don, Jim and Steve met at Don's house to discuss club business and select prizes for November.
Submitted by Jim D. secretary
Our annual show is on Sunday Oct 30 at the VFW post 1307 in Elgin. The hours of the show are 9 am to 3 pm. The club needs your help to make this years show a success. We need volunteers to help Don set up the tables. We also need people to staff the front table to greet visitors and sell raffle tickets. Steve H. needs donations for our young numismatist auction and to assist him in running the auction.
At the show this year, the VFW will sell breakfast burritos and hamburgers. Finally and most important all members who still have raffle tickets must turn
them in with the money at the show.The mint recently unveiled the new obverse portrait of the Jefferson nickel to begin in 2006. The new design shows a full-face portrait of the third president looking toward the viewer of the coin. The mint has named the portrait Jefferson 1800, referring to the 1800 dated portrait of Jefferson that the coin design is derived from. The mint also calls this a forward facing portrait but from my observation based on the position of the head and shoulders it looks more like a sideways glance to me. The reason Jefferson is still on the nickel is from the 2003 law that started the westward journey series. A condition of that law was once the program ended, Jefferson and Monticello must be returned to the nickel. That part of the law was added by representatives from Virginia who fought to keep Jefferson on the nickel. I have a feeling the same thing will happen again in a few years when they try to alter the Lincoln cent. If there's even a possibility of removing Lincoln from the cent you can bet the Illinois representatives will try everything they can do to stop it.
This month's coin of the month is the key date in the Indian/Buffalo 5 cent series. The 1913-S type II in low grades (good, very good) is the most valuable coin in the series. This doesn't count the double dies, over dates and missing leg varieties. I consider those error coins and not necessary for a complete set.
From 1965 to 1995, the coin showed modest gains based on Red Book values. Suddenly between 1995 and 2005, the coin's value increased sharply. In 1965 the values were in good $27.50, in fine $50.00 and in uncirculated was worth $115.00. In 1975, the coin in the same grades was worth $29.00, $46.00 and $120.00. In 1985, the values became $80.00, $125.00 and $550.00 (ms-63). In 1995, the values rose to $75.00, $130.00 and $425.00 (ms-63). Today the values have shot up to $250.00, $350.00 and $1000.00 (ms-63).
While the coin is number one in value in the low grades in higher grades, it is quite another story. In MS-65, there are 17 different dates that are more valuable. Those dates include 1917-S, 1918-S, 1919-S, 1920-S, 1923-S, 1924-D, 1924-S, 1925-S, 1926-S and 1927-S.
For the bargain hunters out there one way of obtaining a 1913-S type II is by buying an acid date coin. For decades, people have tried to restore the date of a buffalo nickel by using an acid solution. The results of this process vary greatly. Sometimes you can see the date clearly and sometimes you need a magnifying glass to see the results. For many years, most collectors shunned these coins considering them alterations and defects. Recently that thinking is starting to change and these coins are starting to gain acceptance in the collecting community. On ebay, the prices for this coin with a restored date range from $40.00 to $100.00 depending on the quality of the restoration. As for myself, I'm still somewhat a purist but for budget's sake may breakdown and buy a restored date coin.
During most years each branch of the mint strikes several different denominations of coins in a given year. There are several instances of a mint only striking one coin denomination in a given year. After each year and mint given tell which coin was the only one struck at that mint.
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