|Archive available at http://www.ChicagoCoinClub.org/
|Volume 57 No. 11
Mark Wieclaw has been appointed the Host Chairman for the ANA’s return to Rosemont in 2013. The announcement was towards the end of an October ANA press release; the headline refers to the ANA’s balanced budget for the next fiscal year, and the release contains many details from the board meeting held at the ANA show in Pittsburgh.
The 1114th meeting of the Chicago Coin Club was held October 12, 2011 in the Chicago Bar Association Building, 321 S. Plymouth Court, Downtown Chicago. President Jeffrey Rosinia called the meeting to order at 6:45 PM with an attendance of 25 members and 2 guests, Charles Knox and Sheila Tucker.
A motion was passed to accept the September Minutes as published in the Chatter. Treasurer Steve Zitowsky reported September income of $1,413.96, expenses of $3,386.37 and total assets of $16,233.81 held in Life Membership $1,910.00 and member equity $14,323.81. A motion was passed to approve the report.
Following the second reading of Ernest Armstrong’s application for membership, a motion was passed to accept him into membership. The application of Charles Knox received first reading.
A letter from the American Numismatic Association was read, thanking the Club for returning $687.59 not spent at the recent convention. A letter from Donald Kagin was read thanking the Club for donating $45.00 to offset the rental of a projection screen for the meeting of the Society of Private and Pioneer Numismatists at the recent ANA Convention.
The November 9 meeting program will be the Annual Auction and members were reminded to submit a list of items for sale and/or get them to Bill Burd at Chicago Coin Company. The Club will hold a meeting 1 PM, Saturday, November 12 at the International Currency and Coin Convention, Rosemont. The speaker will be Pierre Fricke, Sudbury, MA on History of Collecting Confederate Paper Money, 1865 to Date. Members were reminded there will be no Wednesday, December 14 meeting. The Club’s Annual Banquet was moved to Saturday, December 10 at Marcello’s Restaurant, 645 W. North Avenue, Chicago. The featured program will be Michael Gasvoda on The Hunt Brothers’ Incredible Ancient Coin Collection. Reservations of $40 per person are required.
President Rosinia announced with regret Lyle Daly’s resignation as First Vice President. Lyle’s demanding work schedule with frequent travel was making it very difficult to attend meetings. Jeff reported the Club’s Constitution calls for the Board of Governors to fill any vacancy by appointment for the unexpired term of office.
Members were informed that two home robberies took place over the past month. Since burglars are prone to quickly convert stolen goods into cash, everyone was reminded that Club members and Chicago area coin dealers are ready to help spread the word through email so coin dealers can watch for the appearance of the stolen material. Bill Burd also told of a nationwide service www.numismaticcrimes.org that works with the Law Enforcement Community to explain the nuances of collectible coins and paper money.
The meeting’s featured program was given by Dale Lukanich on Obsolete Currency Issued for the Illinois & Michigan Canal, 1836-1844. Following a question and answer period, President Rosinia presented Dale with an engraved Club medal and ANA Educational Certificate.
President Rosinia introduced the ten exhibitors for the evening. BOB WALLACE: ancient Greek coins from Corinth & Ambrakia; RICH LIPMAN: Israeli coins showing different menorahs used to celebrate Hanukkah and U.S. note with “repeater” serial number; MELISSA GUMM: a $10 Illinois & Michigan note from State Bank of Illinois; ROBERT FEILER: 5 different Illinois & Michigan Canal banknotes and a Balbo cut-out coin; DALE LUKANICH: 1849 U.S. Large Cent cut in half, 1837 hard times token, 1901 $10 note Lewis & Clark Centennial Expo, and $10 Bank of Cairo, Illinois note; WILLIAM BURD: 3 gold medals honoring Paul Lauterbur, recipient of Nobel Prize for developing MRI (Magnetic Resonance Imaging); MARK WIECLAW: elongated coins honoring the recent wedding of his daughter and 4 ancient Roman coins; ROBERT WEINSTEIN: 8 silver punched coins from early India; SHEILA TUCKER: restrike of Brasher Half-Doubloon; JEFFREY ROSINA: copper ore samples found at a garage sale.
The meeting was adjourned at 8:45 PM and with the next meeting to be the Annual Auction, November 9, 2011 at the Chicago Bar Association Building.
Carl Wolf, Secretary
presented by Dale Lukanich
to our October 12, 2011 meeting
This 96-mile long canal between the Chicago and Illinois Rivers connected Lake Michigan and the Mississippi basin, becoming an important commercial link just before the railroads became prominent. Here in northeast Illinois, the remnants of the I&M Canal are our main link to early state history. Dale is from Will County, and he used slides to share his interest in canal history with us. After reviewing some historical details, he showed examples of notes from his collection.
There is a long pre-canal history, starting about 1670 when the French sought a fur trade route from the Great Lakes. Accounts differed, but the most optimistic view was that only the 20-foot Chicago ridge had to be overcome. Maybe that was the case in spring, when the Chicago canoe portage was shortened by high water. Digging a canal six feet deep, and long enough to reach navigable rivers, was the reality. The area was sparsely settled and little visited, so who could argue with claims that the canal would be ice free?
A canal was too large of an undertaking by the federal government, so nothing was done before Illinois statehood in 1818. The big question was how to pay for it. Probably state-issued bonds, but would they be backed by the state, by canal tolls, by land sales, or some combination? In 1822, Congress offered 90 feet of land on each side of the canal to the canal authority; but that would not have raised much money. The five received proposed routes, all following the same general route, had estimates of about $700,000. Nothing happened. In 1827, Congress offered alternate sections within five miles on each side of a canal, but still, no action. The main issue in the 1834 state election was the canal versus railroad. In 1835, the third canal commission started doing things; among the effects, the population of Chicago increased from 1,200 in 1836 to 74,000 in 1842.
Politics was involved during the construction. And money, when it was available. With one season of construction completed in 1836, the 1837 season was complicated by the nation-wide Panic of 1837. Construction usually halted when the money ran out, the state would devise a new source of money, and construction would resume for awhile. Repeated until completed in 1848. There are a number of different series of paper money available to today’s collector; Dale showed us examples from his collection.
The printer of the 1839 series is unknown; the notes are uniface, as typical for the era. The serial number was entered twice by hand: correct on the left, and with the digits in reversed order on the right. At least, that was the plan. Dale estimates that about 10% of the notes do not follow that pattern. He showed us issued and cancelled $1, $5, $10, $50, and $100 notes, and unissued remainders of the $2 and $100. The text includes Branch State Bank at Chicago.
The series for 1840 and 1841 identifies the printer, and, while still uniface, the designs consist of multiple small vignettes. The text identifies them as from the Illinois and Michigan Canal Fund. The shown issued and remainder examples included a $2.50 note with a cross eyed buffalo, and a note with the unusual denomination of $120.50.
Conditions were worse by 1842 — the canal had run out of money. So they created an Indebtedness series of notes. The primitive looking notes, still uniface, were printed on the back of uncut sheets of the earlier series; the new design is typically found printed perpendicular to the original printing. The notes are smaller than the earlier series, being about three-eighths of an inch shorter. When an individual unissued earlier note was available, they cut three-eighths of an inch off of the bottom before printing an indebtedness note on the back.
After showing us the above types of commonly found notes, Dale showed us the good stuff, including a small privately issued note for 6¼¢ as well as a bond coupon in pounds sterling. Within Chicago, the route has been filled in or otherwise obliterated, but away from Chicago, some original canal buildings can be found; some are privately owned, some are businesses, and some are visitor centers. Also, the tow paths have been turned into hiking trails. Much of the old route has been turned into a National Park.
|International Currency and Coin Convention
|Chicago Coin Company
|Harlan J. Berk, Ltd.
Items shown at our October 12, 2011 meeting.
Here are the lots known to us by October 25, 2011. The auction will be held near the start of the meeting, after a short time for lot examination; consignments are accepted until the auction starts.
Donation from Carl Wolf:
Donation from Warren Schultz:
Donation from the New Zealand Mint at ANA:
Consignment from Richard Hamilton:
Donation from Richard East:
Donation from Richard Dolnick:
Consignment from Richard Lipman:
Consignment from Phil Carrigan:
|December 10, 2010 (This is on a Saturday!)
|6PM to 7PM Cocktails and Hors d’oeuvres
7PM to 9 PM+ Dinner and Meeting
|Marcello’s Restaurant, 645 West North Avenue, Chicago, IL 312-654-2560. Ample free parking is available in their parking lot. If public transportation is taken, it’s just east of the North Avenue subway stop on the CTA Red Line.
The evening’s hors d’oeuvres and dinner menu will be detailed in the December Chatter.
The cost is $40.00 per person and reservations are required. Make your check payable to Chicago Coin Club, P.O. Box 2301, Chicago, IL 60690. If time is short, e-mail your reservation to email@example.com, or call 773-878-8979 during workdays and make arrangements to pay at the door.
Please make reservations as early as you can so we can plan for an appropriate room size.
Michael Gasvoda on The Hunt Brothers’ Incredible Ancient Coin Collection
|November 9, 2011, First session
At the Chicago Bar Association, 321 S. Plymouth Court, 3rd floor meeting room. Please remember the security measures at our meeting building: everyone must show their photo-ID and register at the guard’s desk. Nearby parking: South Loop Self Parking Ramp at Van Buren & Federal Streets; that is two short blocks west of our meeting site. Note: Their typical rate of $29 is reduced to $6 if you eat at the Plymouth Restaurant, 327 S. Plymouth Court (next to our meeting site at the CBA), show them your parking ticket, and ask the restaurant for a parking voucher. The restaurant offers standard sandwiches, burgers, and salads for members who want to meet for dinner.
Although the deadline for listing lots in the Chatter is past, you can still bring your lots with you to the November meeting. In the past few years, club related material (and Chicago area numismatic items) have realized the best results. Please consider using the club auction to dispose of the numismatic items you no longer need.
You can place a reserve on each lot, and there is no commission charged to either the buyer or seller. Auction lot viewing will be held before the meeting starts, and again briefly before the auction starts.
Please find elsewhere in this issue of the Chatter a listing of all auction lots that were known to us by Tuesday, October 25.
. . . . . .
|November 12, 2011, Second session
|At the International Currency and Coin Convention, which is held at the Crown Plaza Chicago O’Hare, 5440 North River Road, Rosemont, IL. No admission charge for our meeting.
|Pierre Fricke - History of Collecting Confederate Paper Money, 1865 to Date
Pierre Fricke authored the award-winning book Collecting Confederate Paper Money, which some call the most important Confederate paper money book published in the last 90 years. Fricke received input from over 150 collectors in putting together this book that systematically covers side-by-side comparisons of genuine versus counterfeits, grading and rarity. Respected numismatists claim collectors who read the first 100 pages will know more than the average casual collector or paper money dealer. Do not miss this meeting — it is an absolute must for every member even if you have no Confederate paper money in your collection. Fricke will sign books brought to our meeting.
|CCC Meeting - Club Auction - no featured speaker
|International Currency and Coin Convention at the Crown Plaza Chicago O’Hare, 5440 North River Road, Rosemont, IL. Admission is $5 for Friday through Sunday. Details at http://www.pcdaonline.com
|CCC Meeting - 1pm at the International Currency and Coin Convention,
which is held at the Crown Plaza Chicago O’Hare, 5440 North River Road, Rosemont, IL.
No admission charge for our meeting.
Featured Speaker - Pierre Fricke on History of Collecting Confederate Paper Money, 1865 to Date
|CCC Meeting on Saturday - Annual Banquet - Featured Speaker - Michael Gasvoda on The Hunt Brothers’ Incredible Ancient Coin Collection
All correspondence pertaining to Club matters
should be addressed to the Secretary and mailed to:
CHICAGO COIN CLUB
P.O. Box 2301
CHICAGO, IL 60690
|- First Vice President
|- Second Vice President
|Other positions held are:
|- Chatter Editor
The print version of the Chatter is simply a printout of the Chatter web page,
with a little cutting and pasting to fill out each print page.
The web page is available before the Chatter is mailed.
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