Meeting 7:30pm, Wednesday, July 5
Talk and trading 7:00-7:30pm
VFW, 1601 Weld Road, Elgin, IL
This month's program will be a video from the ANA on counterfeit coins and currency.
|ECC Meeting 580|
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. We then went into the month's program, which was a coin-grading contest. The meting adjourned about 9:00 pm.
Accepted as printed in the June newsletter.
The report was accepted as published.
Fantasy coin contest:
Raffle tickets are available. See Steve H. to get your tickets.
We had our customary raffle and membership drawings. The winners were:
The meeting closed around 9:00 P.M.
Submitted by Jim D.
On June 14 Don, Doug and Jim met to discuss club business and select prizes for the July meeting.
Jim D. brought in a 1937-P buffalo nickel found in change and an undated liberty nickel also found in change.
Al M. showed a Captain Midnight spinner and a Little Orphan Annie ovaltine collectable.
Steve H. showed a token from Shipper and Block in Peoria, Il saying "merry xmas".
Don D. brought in several copper coins, a siege of grand vardon- Transylvania 1708, a 1700 charity token from the Netherlands, a San Martin medal from 1896 listing Buenos Aires newspapers, a July 3, 1872 stock certificate from Brazil and some coffee shop napkins from Buenos Aires.
Mirror mirror in my pocket. As I was examining a Nebraska quarter, I was struck with a feeling of deja vu. Something about the design seemed very familiar, so I took a Maine quarter and placed them side-by-side. Both quarters have similar design concepts albeit mirror images of each other. Both coins have a tower like object on a raised platform used as a navigational guide. Both coins have a vessel on an open area carrying travelers. So far, this is the only instance where two state quarters so closely mirror each other.
The shop at home coin vault program is cancelled. Last month shop at home a TV marketing channel that sells a wide variety of merchandise cancelled their collectable coin program. I have seen that show many times over the last ten years and have been both amused and dismayed by the way they sell coins and currency. Someone told me if a person did buy coins from that show and held on to them long enough they would show a profit. The thing is if someone pays x amount of dollars for a coin they could buy at a coin show or coin shop or any number of other sources for half price or more does not make sense. Now the only place for people to buy marginal, overpriced collectables is Sunday supplements, credit card bills and other TV coin shows.
Copper in cents. Now that copper is over $3.00 a pound are people rushing out to melt pre 1982 cents for twice face value? Based on what I read in the papers and internet I would say no. What appears to be an opportunity for profit has a few drawbacks. First, the volume of coins needed to make it worthwhile. Massive amounts of cents bring massive amounts of weight so transportation is a factor. Second, sorting the copper cents from the zinc cents can be very time consuming, so unless someone invents a device to quickly separate the two it appears the copper cents are safe for the near future.
This month's column deals with paper money, specifically notes with strings of numbers five or more in a row the same. Like an odometer on a car that tracks the miles traveled, the Bureau of Engraving and Printing uses serial numbers to keep track of money issued. Many collectors collect bills with fancy serial numbers such as radar, repeater, stepladder and swims. I have made a chart showing the relative scarcity of solid number sequences of five or more. In this exercise, I am assuming no note numbered 00000000 and all notes come from the same reserve bank with no star notes.
Solid eight number notes.
11111111 thru 99999999. There are nine possible or one every 11,111,111 notes.
Seven in a row, these can be the first seven or the last seven.
0000000X thru 9999999X
X0000000 thru X9999999
In this case, the X is a variable of nine numbers. The only number it cannot be is the number it is next to. For example X1111111, the X cannot be 1 because that would change the block of seven in a row to eight in a row. In every 99,999,999 notes there ore 180 possible notes with seven consecutive numbers or one out of every 555,555 notes. The number 180 is derived by multiplying the variable X (9) times the 10 seven in a row possibilities (0-9) for each of the first and second seven in a row possibilities. (9 x 10) + (9 x 10) = 180.
Six in a row is a little trickier. The block can be the first, middle or last six in a row.
000000XY thru 999999XY
X000000X thru X999999X
YX000000 thru YX999999
The new variable Y can be any number 0-9 because it is separated from the main block by a non matching number X. Doing the math we find there are 2,610 possible six in a row notes or one every 38,314 notes. (9 x 10 x 10) + (9 x 9 x 10) + (10 x 9 x 10) = 2610.
Finally five in a row is calculated in a similar fashion as six in a row.
00000XYY thru 99999XYY X00000XY thru X99999XY
YX00000X thru YX99999X
YYX00000 thru YYX99999
Doing the math we find there are 34,200 possible five in a row notes or one every 2,923 notes. (9 x 10 x 10 x 10) + (9 x 9 x 10 x 10) + (10 x 9 x 9 x 10) + (10 x 10 x 9 x 10) = 34,200.
Prices for such notes increase with the number of consecutive numbers. For a dollar bill in crisp new condition a five in a row note is worth about $10.00, six in a row is worth about $15.00, seven in a row is worth about $ 25.00 and a solid eight is worth $1,200.00.
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