Raleigh Coin Club Newsletter

Transcription

1 Established 1954 Raleigh Coin Club Newsletter Feb 2013 Contents Getting to Know the Franklin Half Dollar Dave Provost Page 1 Information about the Raleigh Coin Club Page 2 Minutes of January RCC Meeting Page 2 February RCC Meeting Notice Page 3 President's Message Page 4 Coin Hawks Page 6 RCC Dues for 2013 are now payable Members: $7.00 YN's: $3.00 Getting to Know the Franklin Half-Dollar By Dave Provost Fifty years ago, in 1963, the US Mint struck record numbers of Franklin half-dollar coins (over 92 million of them) in what would turn out to be the last year of issue for the short-lived seventh type of US half-dollar. President John F. Kennedy's assassination on 22 November 1963 hastened the introduction of our country's eighth half-dollar design type in But let's start at the beginning... It could be said that the seed for a US half-dollar featuring Benjamin Franklin was first planted in In that year, the US Mint struck an attractive medal honoring the life of Benjamin Franklin; the medal was designed by US Mint Chief Engraver John Ray Sinnock. It featured a right-facing portrait of Franklin on its obverse (based on a sculpture by Jean-Antoine Houdon), and allegorical figures representing Philosophy, Literature, Science and Patriotism on its reverse. (See Figures 1 and 2.) Also in 1933, Nellie Tayloe Ross became Director of the US Mint, the first woman to hold the post. Ms. Ross served as Director from 1933 until 1952, serving under Franklin Delano Roosevelt and Harry S. Truman. Ms. Ross was impressed with Sinnock's Franklin medal; it was a positive impression she would not forget. When Ross took office, the Walking Liberty design was in use for the US half-dollar. The design was introduced in 1916 and could not be replaced, without an Act of Congress, until at least 1941 due to US coinage regulations which required the designs of regular/circulating US coinage to remain constant for a minimum of 25 years. While Ross contemplated introducing a new half-dollar bearing Franklin's portrait when first able to do so, the urgencies of World War II made the timing poor for such a change. Shortly after the War's conclusion, thoughts in the Director's office turned once again to replacement of the Walking Liberty half-dollar with one featuring a Benjamin Franklin design. Sinnock was called upon to prepare models for the new coin. He did so by making use of designs he had previously produced. For the obverse, he made slight modifications to the Franklin portrait he created for the 1933 medal that so impressed Director Ross, and for the reverse he adapted the Liberty Bell he had modeled for the 1926 Sesquicentennial of American Independence commemorative halfdollar and gold quarter eagle. Chief Engraver Sinnock died, however, before the final coin designs could be completed. Gilroy Roberts, Sinnock's successor as Chief Engraver, was called upon to complete the work. Continued Page 5

2 President: RALEIGH COIN CLUB PO Box Raleigh NC http// David Boitnott Vice President: Dennis Edens Treasurer: Secretary: Sgt-at-Arms: Steve Pladna Ron Turner Benji Harrell Directors (with terms ending): Dave Provost (2013) Ben Parker (2014) Richard Brown (2015) Newsletter Editor: Halbert Carmichael m Club Affiliations American Numismatic Association Member #C Blue Ridge Numismatic Association Member #C3383 North Carolina Numismatic Association Member #C14 (Life) Contents copyright Raleigh Coin Club 2013 The RCC grants permission to reprint for non-profit educational purposes only any articles not individually copyrighted to the author provided that the RCC Newsletter is cited as the source. MINUTES FOR JANUARY 19, 2013 RCC MEETING President David B. welcomed 21 members, 2YN's and 3 guests at 7: 34 PM. Steve P. provided Treasurer's report and reminded members that 2013 dues should be paid now. Business ANA theme for national coin week April celebrates the centennial of the buffalo nickel: "Black Diamond Shines Again." members were urged to think of things that the club can do to participate. Bring ideas next month. With only six months till the 2013 Club Show, Next month all players should gather before the club meeting to coordinate efforts. Dave P. has flyers to send to other clubs and working on getting ads in journals. Dave asked for coin related article and exhibits. Refreshments were provided tonight by Ken B.. Refreshments for February will be by Bob I. Show and Tell Ron T Canada 20 bought at FUN Halbert C showed Canada 2012 quarter from bird series, pointing out that it was different fabric from the circulating quarter and cost $15. Bob I s Philippines One Peso (called US second trade dollar) Dave B. showed an error: a 1968D quarter on a dime planchet Bruce S. 25th anniversary silver eagle set. Continued Page 3 2

3 RCC Minutes Continued from Page 2 O.T.T. showed a 1964 Mint set Chuck B. 2 ancient Greek Tetradrachms from Syracuse Benji H. showed Standing Liberty Quarters dated 1917D type 1 AU53, 1918D, AU50, 1924 AU50, 1925 MS63, 1926D MS64, 1928 MS 63, 1929 s AU 50. Roger B showed a 2000 p Sacagawea Dollar with Elliptical Strike Clip in ANACS MS 60 Unique. Elliptical clips are rare, and Roger explained how they occur. Dave P. Philippines centavo and a one centavo Program Halbert C presented a program showing the different numeral systems that have been used through the centuries. He then went on to illustrate the several different sets of denominations that have been used: 1. Binary: a unit, its half and quarter, and its double and quadruple. 2. British: a unit, its half and quarter, a twelve fold unit (the shilling) its half and quarter, and the quarter of a still larger unit. 3. Metric: 1, 2, 5, 10, 20, 50 of a smaller unit, and then 1, 2, 5, 10, 20, 50 for a larger unit. 4. US: a hybrid system: 1, 5, 10 of the small unit (cent); the quarter, half and one of the larger unit (dollar). The gold coinage was a binary system based on the 10$ eagle: quarter, half, eagle and double eagle. 5. Slavic: 1, 2, 3, 10, 15, 20 of the smaller unit. February Meeting Notice Tuesday, February 19, :30 PM Ridge Road Baptist Church Ridge Road Program 1926 NORSE MEDALS 0. T. Thompson Richard Jewell Refreshments Bob lzydore Display Case????? DUES PAYMENT Meeting Adjourned 3

4 President's Message Wow, its mid-february already - time flies when you are having fun and are busy as all get out at work. As a collector of space metals and associated memorabilia it is now T- five months to our big show! We had better get to work on all the preparations. I am calling a meeting of the officers, directors, bourse chair and show committee members before the general meeting this month. We need to have a coordinated approach to promoting this year's show in light of the venue change and the only way we can accomplish this is through communications. We need to all be on the same page. I will be at the meeting place in time to open up for the YN Coin Hawks' meeting this month at 6:45, so show committee folks and officers please come early and let s get started. Also on the agenda for this month's meeting is national coin week April The American Numismatic Association has released the theme for this year's national coin week the "Buffalo Nickel Centennial: Black Diamond Shines Again." As I said last month I know we have some Buffalo collectors among the membership so let's start putting some ideas together. The ANA is planning events, activities and educational content that will focus on the Indian Head/Buffalo nickel ( ), including subjects such as Native American history, animals on coins, the "Renaissance of American Coinage" and the famous 1913 Liberty Head nickel. Again this year the ANA will have a club challenge, where member clubs test their numismatic knowledge and compete for prizes. Maybe this is something we can participate in. They will also be making a promotional kit for clubs with educational materials, buttons, bookmarks and more available. Our effort for national coin week the past couple of years has been nonexistent. As making a promotional kit for clubs with educational materials, buttons, bookmarks and more available. If you would like more information on National Coin Week please visit This month we will be having quest speakers up from Wilmington to present on the Norse American Medal. Let's all plan to attend, have a large turnout and give them an enthusiastic and welcoming audience. VP Dennis, I am sure would also welcome volunteers for future presentations. Share your passion and I guarantee you will find it both fun and rewarding. The plea goes for articles for the newsletter and exhibits for the show. Speaking of show exhibits, I believe Pro will begin the recruitment (aka arm twisting) in earnest this month. Until we meet on Tuesday, February 19 at the Ridge Road Baptist Church- enjoy and promote the hobby, David Boitnott President The fifty-fifth image in the Heritage Auction Archives finally shows the obverse of the buffalo nickel. 4

5 Getting to Know the Franklin Half, Continued from Page 1 Figure 1. Obverse of 1933 US Mint Benjamin Franklin Medal Figure 2. Reverse of 1933 US Mint Benjamin Franklin Medal One of the primary tasks for Roberts was to add an eagle to the design. The Coinage Act of 1873 (and previous US coinage laws dating back to 1792) required that all silver coins larger than a dime bear the image of an eagle. As there was not much room left within Sinnock s obverse or reverse designs to incorporate an eagle, Roberts was definitely faced with a challenge. He solved the dilemma by adding a small eagle on the reverse to the right of the Liberty Bell; it is the smallest eagle on any regular issue US silver coin. It does have a smallest eagle challenger within the classic commemorative series, however. The 1936 Albany Charter half-dollar has a very small eagle included on its reverse. (See Figure 3.) The coin was released to the general public on 30 April The coin debuted, however, the night before during a special reception at The Franklin Institute in Philadelphia. A select group of about 200 invited guests each received a coin as part of the evening's celebration; the event was hosted by Mint Director Ross. Figure 3. Obverse (left) and Reverse of 1963 Benjamin Franklin Half-Dollar [Franklin half-dollar images courtesy of The Coin Page, page.com] 5

6 Franklin half-dollars were struck from 1948 through 1963, with coins struck at Philadelphia, Denver and San Francisco (though not all Mints were used each year). It offers 35 date and mintmarks combinations among the business strike issues, plus 14 different years of proof coins that were struck at Philadelphia. Though its time as a circulating US coin was relatively short-lived, it has proven to be an enduring favorite among collectors. Like any series, assembling a set of Franklins in the highest mint state or proof grades can be an economic challenge, but very attractive mint state sets can be assembled within the budgets of almost every collector. Happy Collecting! COIN HAWKS Young Numismatist Program At the January program David and Kyle attended. We discussed and viewed obsolete coins such as the half cent, the two and three cent coins, and the twenty cent coin. We also discussed why they were needed and what led to their demise. At the February meeting we will discuss grading of coins. This is a huge topic so we will only be able to hit the highlights. Please bring a coin to grade. Also, bring your penny books to pick out pennies to fill holes in your book from our supply. The store will also be open to allow you to use any club bucks you have earned. The YN program starts promptly at 6:45 and all are welcome to stay for the regular club meeting at 7:30. Also, remember that you can use up to 1 of you club bucks for the regular meeting raffle. The schedule for the next three months is: February - Coin Grading March - Paper money or bullion April - whichever topic we don't cover in March 1. What does a "split" grade on a coin mean? 2. True or False - "Doctoring" a coin is a deceptive practice used to make a coin look better than it is. 3. True or False - Cleaning a coin to remove dirt or stains will make it more valuable 4. Who was the person that invented the grading system of 1-70? 5. Would you sooner have a Mint State (MS) coin or an Uncirculated (UNG) coin? 6. What tool can be used to see more detail of a coin than the naked eye can see? 7. True/False - The Type 1 gold dollar has an Indian Head on the obverse. 8. Is the melt value of a silver coin the same as the face value? Why or why not. 9. If I offered you an 1882 Twenty Cent piece for 80% or market value would that be a good deal? Why or why not. 10. True or False - In the grading level known as EF the "E" stands for Extra. Other ways to get more club bucks: 1. Bring a friend to a coin hawk meeting 2. Do a presentation at the Coin Hawk meeting on a numismatic topic. HELP NEEDED FROM ADULT MEMBERS 1. Items in the store to let YNs' use their club bucks are getting low. If you would like to donate something to "sell" to the kids it would be appreciated. 2. I am looking for someone to talk about paper money and bullion in March and April. 3. We have a bag of wheat cents, Jefferson nickels, and foreign coins the kids can look thru. Always looking for new material though. Thank you Jeff M Following are the questions for the monthly quiz for which you can earn club dollars which will allow you to purchase items the club has made available. If you can't attend the meeting but still want to earn RCC bucks please your answers to jjjsmac@gmail.com. 6