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Chicago Coin Club
Volume 47 No. 4 April 2001

Minutes of the 986th Meeting

The 986th meeting of the Chicago Coin Club was called to order on March 3, 2001 at 1:04PM by President Carl Wolf at the Chicago Paper Money Exposition at the Ramada Hotel, 6600 N Mannheim, in Rosemont.

First Vice President Robert Feiler introduced feature speaker Chester Krause who discussed Mining Scrip of Michigan's Upper Peninsula. The talk illustrated how the economic isolation of Michigan's Upper Peninsula and a flourishing local economy created the need for scrip.

First Vice President Robert Feiler thanked Mr. Krause and presented to him the Chicago Coin Club's (CCC) featured speaker Medal and an ANA educational certificate.

President Carl Wolf explained to the audience the process for membership in the CCC and encouraged all that were interested to consider membership. At this time we had the first reading of the application for membership for Gary E. Lewis.

President Carl Wolf explained to the audience the CCC tradition of distributing numbered souvenir cards at the CPMX show. This year's card was a numbered reproduction of a $1 note issued by The City Bank (of Chicago). As is customary, the first of the series is given to the club Archivist (Phil Carrigan), the second was given to the featured speaker (Mr. Krause) and the third to the preparer of the card, Mike Metras. All attendees then received a copy of the card.

The meeting was recessed at 2:03PM.

The 986th meeting of the Chicago Coin Club reconvened on March 14, 2001 at 7:01PM and called to order by President Carl Wolf.

A motion was made, seconded and passed to approve the minutes of February 14, 2001.

Secretary/Treasurer Lyle Daly gave a treasury report as follows:

TCF Checking Account $2566.40
Dreyfus Money Market 1768.71
Bank One CD 1357.09 due 9/01
Bank One CD 1355.17 due 7/01
TOTAL $7047.37

President Carl Wolf introduced Harlan Berk as the featured speaker. Harlan spoke on the ancient coinage of Croesus. The gold and silver pieces composed what could loosely be described as a type set. The iconography of a three quarter rampant lion opposing the head of a bull was the common theme, representing military might and fertility.

After the presentation, Carl Wolf thanked Harlan and awarded to him the CCC's featured speaker Medal.

Second Vice President Don Dool introduced the following individuals, who presented material during the meeting's Show and Tell:

Old Business:

All were reminded that the 987th meeting will be held Wednesday April 11th at 7pm downtown. We will recess and reconvene at the Chicago International Coin Fair at the Ramada Hotel, 6600 N Mannheim, in Rosemont on April 28th at 1 PM. The speaker will be David Hendin who will discuss Coins of the Bible.

A motion was made, seconded and passed to send a $25 dollar memorial, for each member who passed away in 1999-2000, to the ANA library to purchase books in their memory.

New Business:

Carl Wolf stated that the board recommended a committee be formed to begin planning for the 1000th meeting of the CCC. Jeff Rosinia, Mark Wieclaw, Dick Hamilton, Sharon Blocker and Mike Metras volunteered to be part of that committee.

A motion was made, seconded and passed, to adjourn the meeting at 8:56 PM.

Respectfully submitted by Lyle Daly

Minutes of the Board Meeting of February 21, 2001

The 1st board meeting of 2001 for the Chicago Coin Club, held at Connie's Pizza, was called to order on February 21, 2001 at 6:35PM by President Carl Wolf.

Those in attendance were President Carl Wolf, Second Vice President Don Dool, Phil Carrigan, Mark Weiclaw, Lyle Daly and Paul Hybert. Members William Burd, Robert Leonard and Steve Zitowsky were present in an advisory capacity.

A motion was made by Mark Wieclaw to accept Bill Bierly's resignation as Secretary Treasurer and nominate Lyle Daly to the vacated position. The motion was seconded and passed.

A motion was made by Lyle Daly to approve the pre-printed material allowing signatories to be changed on the two Bank One certificates of deposit and the Dreyfus Money Market fund. Signatures will be obtained at the Chicago Paper Money Exposition. The motion was seconded and passed.

A motion was made to change the signatories to the Bank One safe deposit box to Carl Wolf, Lyle Daly and Jeff Rosinia. These individuals are regularly in the downtown area and can conveniently access the box for the club. The motion was seconded and passed.

The floor was opened for discussion.

  1. Celebration of the Club's 1000th meeting.
    The 1000th meeting will be in April of 2002. Suggested venues of celebrating are as follows: It was discussed and agreed that a committee be formed to develop the program for the 1000th meeting. The board will make recommendations for membership to the general membership for ratification.
  2. Illinois Numismatic Association Educational Service
    The Illinois Numismatic Association has asked the Club to organize an educational activity and/or program for their fall show scheduled for September 7-9 and held at 6200 Joilet Rd, Countryside, IL. Carl Wolf stated his belief that members of the club could add value to the show. The collectors in attendance have historically been interested in recent US series. General membership will be advised of this opportunity.

A motion was made, seconded and passed, to adjourn the meeting at 8:05 PM.

Respectfully submitted by Lyle Daly

In Memory
Richard W. DeRobertis

Richard DeRobertis passed away Saturday, March 10, 2001. He was 73 years of age.

Richard joined the Chicago Coin Club in April 1995 becoming member number 1045. He had wide numismatic interests, but specialized in U.S. paper money. He ran his own insurance agency for forty-seven years before retiring and becoming a part-time dealer at local coin shows. He specialized in international paper money.

He was a veteran of the U.S. Navy, a member of the American Numismatic Association, Society of Paper Money Collectors, International Bank Note Society, Calumet Stamp Club, South Holland Business Association, Lion's Club, Knights of Columbus, Dolton Elks and others.

A memorial service was held March 14th at St. Jude the Apostle Church in South Holland. He is survived by his wife Patricia, eight children, eleven grandchildren and one great-grandchild.

Carl Wolf

Speaker's Wor[l]d
Mining Scrip of Michigan's Upper Peninsula

Presented by Chet Krause to our March 4 meeting at the CPMX.

The program consisted of a little history, some geography, and a show and tell session. Although visited by French traders, the first commercial expeditions to the southern shore of Lake Superior started around 1820. In 1836, that area was made part of the state of Michigan in a land swap that gave the Toledo area to Ohio. The first commercial ties were to Detroit, because lake shipping provided easy access, and because the first investors in the area were Detroit merchants.

This talk concentrated on the experience of the Keweenau peninsula, which forms a small part of Lake Superior's southern shore. Although iron was present in the area, the copper deposits were developed first, starting in 1840. The copper mines were developed by Eastern investors, and the soft copper found a ready market, in the production of US minor coinage and other uses. This area was the main source of copper until late in the nineteenth century, when the advancing western railroads made the copper in Montana and Arizona more attractive.

The most difficult part of travel to the east was the six mile portage at Sault St. Marie. The 1855 opening of the canal and locks allowed iron to be transported. It also brought coal onto Lake Superior, which allowed steamers to start replacing schooners.

The remaining difficulty in lake travel was the winter freeze of the lake; no shipping during the winter. Most business was conducted using sight drafts given by the mines. But those were payable at some eastern bank, because most heavy industry was financed by easterners. A number of sight drafts from different mines were shown, all payable somewhere east (New York, and such). A $5 draft from The Central Mining Company, Eagle Harbor, dated 1863; a $20 draft from the Quincy Mine of Hancock, dated 1869 with a 2-cent revenue stamp; and a $100 check from the Quincy Mining Company of Hancock, dated 1889, were some of the items shown. Area bank notes were neither mentioned nor shown.

The picture that emerged of the local economy was of sight drafts circulating during the winter isolation, but the drafts would disappear after the spring thaw, shipped east to pay for supplies and material. One hundred different pieces of mining scrip are known for the area.

A few of the area's mining stocks were shown, and mention was made of some of the more remembered of the underwriters (again from the east, mostly Boston and New York). The presentation concluded with samples of the various types of copper ores from the area; the first miners picked up much copper from the surface. Mention was made of the traces of pre-historic mining activity, and how fire and water were used to separate ore from rock.

Speaker's Wor[l]d
Early Coins of Croesus, and
Signed Ancient Coins

Presented by Harlan Berk to our March 14 meeting.

Harlan has long studied the coins of Croesus, and the first part of the evening's talk was spent mentioning certain characteristics of the issues while the actual coins were displayed.

Pieces were issued in denominations of siglos and stater, but only for their clients (those they had conquered). A thirteen to one value ratio was used for gold and silver, and fractional denominations are very rare. The existence of gold and silver coins from the same die indicates that this was a small, local issue.

The main design elements are the lion and the bull, the lion representing strength and the bull representing fertility. The idea that the coinage shows Croesus, represented by the lion, vanquishing an opponent, represented by the bull, was downplayed. Once that general point was made, the design elements were analyzed both as to details and the changing style. The wart on the lion was first, followed by the position of the legs; a leaping lion early, but standing with straight parallel legs later. A high grade piece appears to show a bridle on the bull.

A short discussion of a hoard of these pieces concluded the Croesus coinage part. The second part was spent reviewing signed ancient coins. At one time, all coins of Syracuse were signed. But other areas would issue signed coins sporadically, rarely.

On some pieces only initials were present, on other pieces names. But usually we are not certain as to whether they indicate the die cutter or the magistrate. There is no such question about the coin bearing the legend "Theodosius made it," however.

Considering all of the coins from Sicily and Magna Graeca, very few are signed. After showing a few from here and there, much time was spent on coins from Laryssa. A hoard provides useful data as to die linkages, occurrence of signed dies, and such.

The coins of Laryssa are of a standardized design; a horse on the reverse. either initials or a monogramed bull were used to sign the coins. Out of 83 identified dies, only 15 were signed. Since some dies are known only from specimens with a head struck high off of the planchet, the numbers are not exact as sometimes initials are located above the head.

The talk concluded with a brief discussion of mintage technique. Planchets might have been close to a ball in shape, in order to get the high relief without producing many edge fractures. An informative evening with these excellent pieces was over much too soon.

Show and Tell

Each image has a scale in the lower-left corner, with the tics spaced 1 mm apart. Because the brightness and contrast were manipulated on a computer, the coloring of a coin's image differs from the coin's actual coloring.

  1. Drew Michyeta led off with a dekadrachm made by the Gallery Mint in Arkansas. It bears the owl of Athens and the head of Athena, with COPY in the ribbon on the helmet.
  2. Last year's CICF was the source of Mike Metras' two Roman denarii:
  3. Richard Hamilton showed acquisitions from the recent CPMX:
  4. Notgeld and ancients were shown by Mark Wieclaw:
  5. Chet Poderski showed some local pieces found while house cleaning:
  6. Sharon Blocker showed a lot won on eBay. A set of four .999 fine silver one ounce ingots of Cuba, each denominated 10 Pesos. While the design on each piece stands alone, the rectangular pieces go together (2x2) to form an image of Havana and its harbor with sailing ships.
  7. The theme "Two Imitations of a Copy" was presented by Bob Leonard; consisting of four ducats from the Chios Hoard (concealed circa 1435, appeared on market 1990): The two imitations were each found as die duplicates in the hoard and must be late issues. At this time the economy of Chios was based on alum, essential for dying cloth. The Genoese had a virtual monopoly on the importation of alum into Europe, transhipping it from the alum mines on the Turkish mainland and loading it on bulk freighters at Chios. About 25 years after these coins were minted, the Genoese were paying over 300,000 ducats every year just as tribute to the Turks for the alum concession. At this time, their profits would have been much higher.
  8. Themes from past meetings were continued by Carl Wolf.
  9. Bill Burd showed part of a small hoard of serial numbered silver art bars picturing landmarks:
  10. Having returned that morning from a trip to Argentine, Don Dool used San Martin as his theme.

Important Dates

The April meeting will consist of two sessions; the first session will end with a recess (instead of an adjournment), and we will reconvene for the second session at the CICF.
Apr11 CCC Meeting (session #1) - Featured Speaker - Louis Jordan on Recent Discoveries on John Hull and the Massachusetts Mint
7:00pm, in downtown Chicago.
Apr28 CCC Meeting (session #2) - 1pm at the annual Chicago International Coin Fair held at the Ramada O'Hare Hotel.
Featured Speaker - David Hendin on Biblical Coins: 1st Century BC - 2nd Century AD.
Apr27-29 26th Annual Chicago International Coin Fair (CICF) at the Ramada O'Hare Hotel, 6600 N. Manheim Road, Rosemont, IL. Admission is $5.
May9 CCC Meeting - Featured Speaker - Steve Feller on Bank Notes from the Vault
June13 CCC Meeting - Featured Speaker - Tom DeLorey on 1943 Bronze Cents and 1944 Steel Cents

Birthday and Year Joined

May 2 Donn Pearlmann 1979
May 3 Roy R. Grundy 1981
May 5 Dennis Fuller 1997
May 8 Sharon Blocker 2000
May 10 Marty Vink 1952
May 11 William A. Burd 1993
May 11 Jeffrey Rosinia 1995
May 15 Jay M. Galst 1991
May 17 Shirley Valenziano 1984
May 17 Paul R. Hybert 1994
May 23 Robert J. Weinstein 1991
May 25 John G. Ross

Chatter Matter

All correspondence pertaining to Club matters should be addressed to the Secretary and mailed to:

P.O. Box 2301

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Contacting Your Editor

Paul Hybert
3301 S. Dearborn
Chicago, IL 60616

Club Officers

Carl Wolf- President
Robert Feiler- First Vice President
Donald Dool- Second Vice President
Directors:Lyle Daley
William Burd
Jeff Rosinia
Mark Wieclaw
Other positions held are:
Lyle Daley- Secretary Treasurer
Paul Hybert- Chatter Editor
Phil Carrigan- Archivist