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March, 2006
Year 13, Issue 3

Award Winning Newsletter

Meeting 7:30pm, Wednesday, March 1
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.

March Program

This month's program is a member's auction. Please bring in some items you wish to sell. There is no buyers or sellers fee for this auction.

Prizes


February Minutes

ECC Meeting 576
Opened:   7:30     Closed:   8:35
Members:   19     YNs:   0
Guests:   2         
Beginning balance:   $242.83     Income:   $116
Expenses:   $70     Current balance:   $288.83

Steve 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 a slide show from the ANA on colonial coinage. The meeting adjourned about 9:00 PM.

Secretary's Report

Accepted as printed in February's newsletter.

Treasurer's Report

Balance:   $242.83.
The report was accepted as published.

Old Business

Fantasy coin contest This years contest is just starting. The first leader board will be published in the next newsletter.

New Business

None.

Prizes

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

The meeting closed around 8:35 P.M.

Submitted by Jim D.


Show and Tell

Lucky brought in some foreign banknotes. They were from Israel featuring a portrait of Albert Einstein, and two notes from Bulgaria in denominations of 50 and 200 Lepta.

Steve H. brought in some coins found in change, a 1952 Canadian cent and a 1 and 2 Mexican Peso bi-metallic.

Don D. showed some of his recent early copper purchases. They were a Bouillon 1587 tournois, a Bouillon & Sedan 1632 double tournois, a Cheleau 1613 2 liards, a Cugnon 1634 double tournois, a Dombeq 1623 double tournois, a Lorraine 1728 liard, a Montbelliard 1715 liard, a Nevers & Rethel 1609 2 liards, an Orange 1641 double tournais, a Phalzburg & Lixheim 1633 tournais and a Boisbelle & Henrichemont 1636 double tournois.

Don C. showed a 1941 Canadian 5c with machine doubling, a wooden nickel from Wauconda, IL and some 1953 trading stamps.

Jim D. showed his latest set of state quarter notes and a pcgs graded MS65 Bicentennial quarter.


Editorial

PCGS runs a fantasy coin contest. Starting this month the Professional coin grading service is running a fantasy coin contest. The rules of their contest are similar to the contest I have been running in the club for the last four years. The only differences are they allow a larger starting budget, in the words of Dr. Evil, ONE MILLION DOLLARS. The other major difference is each player can only buy coins up to the total shown in the current PCGS population report. So if a certain coin has a population of one and someone else beats you to it you are out of luck and have to find something else to purchase. Also you have to use the PCGS price guide to calculate the value of your portfolio. This does not affect the contest I am still running and if you want to participate select $25,000 worth of coins from the March 2006 coin world monthly price guide. Who knows you may win a prize at the December meeting.

Special mint marks requested for state quarters. With the release of the Nevada quarter, some collectors have asked the mint to strike some with a cc mintmark for the former mint at Carson City. This request was quickly rejected as not being authorized by the law pertaining to the state quarter program. I know the cc mintmark is popular with collectors, but why just that mint? To change the law to benefit one mint would not be fair to the other mints. There was no call for an O mintmark on the Louisiana quarter that I can recall. The same goes for mintmarks on the North Carolina, Georgia and New York quarters honoring the Charlotte, Dahlonega and West point mints. Still this may provide an opportunity for either the Gallery mint or Royal Oak mint to make special replicas featuring obsolete mintmarks. These will need the word copy stamped in them to comply with the hobby protection act, but if done well can be a nice compliment to a regular state quarter set.

Membership Dues. As of this letter, many members still have not paid their 2006 membership dues. If you have not paid by the May meeting, your name will be dropped from the mailing list. If you are not sure if you owe this years dues or not see Don C. at the meeting.


Coin of the Month

1900 Lafayette Dollar

This month's coin of the month is the 1900 Lafayette dollar. This coin the nation's first commemorative dollar was struck to raise funds to erect a statue of General Lafayette at the Paris exposition of 1900. Charles Barber designed the coin that features on the obverse the images of General Washington in the foreground and General Lafayette behind. Circling the portraits are the words United States of America and Lafayette dollar. Although the coin says dollar it is assumed to be one dollar. This is reinforced by the fact the coin is struck to the same specifications as the Morgan dollar. The reverse features an artist depiction of the statue and the inscription "erected by the youth of the united states in honor of general Lafayette" and "Paris 1900". The two mottos missing on this coin that appear on almost all other US coins are liberty and in god we trust.

The law authorizing this coin was signed on March 3, 1899 and the coins were struck on Dec 14, 1899. From an original mintage of 50,000 only about 36,000 were sold with the remaining coin melted later. There is a single proof known to exist at this time. The image of Washington is the first time a president has appeared on a legal tender US coin. Three years later President Jefferson will be featured on a US coin honoring the Louisiana Purchase. The current values of the Lafayette dollar are AU $650., MS60 $925., MS 63 $2,100. and MS65 $10,500.


Coin Quiz

Identify the following foreign countries by the way the countries name is spelled on their coins.

  1. Helvetia
  2. Magyar Koztarsasag
  3. Sverige
  4. Suomen or Soumi
  5. Nihon
  6. Bundesrepublik Deustchland
  7. Liban

Answers


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Answers

  1. Switzerland
  2. Hungary
  3. Sweden
  4. Finland
  5. Japan
  6. Germany
  7. Lebanon