|Volume 63 No. 11||November 2017|
Although we are sending out the dues notice a month earlier than usual, the dues cycle remains on a calendar year basis. Your 2017 dues are good through December, 2017 — please pay your 2018 dues before the start of 2018.
Check the outside of your printed Chatter. A slip of yellow paper stapled outside the cover indicates that, according to our records, you have not paid your dues for 2018. Please mail the dues to the address on that slip, or bring them to our next meeting. For members who are notified by email when a new Chatter issue is available, the email stated if you have not paid your dues for 2018.
Session I (see August 16, 2017 Board Minutes) of the 1186th meeting of the Chicago Coin Club was held Wednesday, October 11, 2017 at the Chicago Bar Association Building, 321 S. Plymouth Court, Downtown Chicago. President Richard Lipman called the meeting to order at 6:45 PM with attendance of 15 members and 1 guest, Brian Schilling.
The Minutes of the September 13, 2017 meeting, as published in the Chatter was approved. Steve Zitowsky delivered the treasurer’s report of September: revenue of $35.00, expenses $252.00, and total assets $25,769.73. A motion was passed approving the report.
It was announced that Lawrence Lee had submitted 2017-18 dues and a motion was passed reinstating his membership.
First VP Mark Stackler introduced the featured speaker, Brett Irick, of Detroit, who delivered a presentation Building a Type Set of Mexican Coins. Following a question and answer period, Marc presented Brett with an engraved Club speaker medal and an ANA Educational Certificate.
Second VP John Riley announced the evening’s twelve exhibitors. Mark Wieclaw: a double sestertius of Roman Emperor Aurelian, 3 custom made coin year (Proof and Mint issues) sets, and a $1.00 note with the serial #F19151973L. Robert Leonard: 4 coins of Julius Caesar and coin of Cleopatra VII. Deven Kane: 3 Islamic coins and 2 coins of Romanov Russia. Rich Lipman: a Barclay’s travelers check, African Banknotes with agricultural theme, and banknotes from regional banks in Portuguese Macau. Dale Lukanich: 5 cut Celtic coins, and 3 Illinois broken banknotes. Bill Burd: 1967 correspondence from Chicago Coin Club (and response), and two Canadian coin sets of 1967. Andrew Michyeta: 1919 silver coins for a club project. Lyle Daly: a 1944 5 Centavos, a 2017 American Liberty $100 coin, and a world’s fair souvenir. Bob Feiler: 10 early Mexican coins of various denominations. Richard Hamilton: examples of new polymer $10 Canadian notes. Steve Zitowsky: a 1904 nickel, and WWI “trench art” on a French coin. Brett Irick: Canadian $10 polymer banknotes, and his membership card in the Polish Numismatic Society.
The meeting was recessed at 9:20 PM.
Carl F. Wolf, Secretary
a presentation by Brett Irick,
to our October 11, 2017 meeting.
Coinage started in Mexico City in 1536, at the first mint in the New World, using the M mint mark. Coins were struck in copper, silver, and gold, with the vast majority struck in silver. The copper coinage was not well liked by the residents as they viewed copper as an undesirable metal. Before the Spanish arrived, the locals wore gold and silver jewelry. Gold coins were not minted heavily due to the smaller supply of it, relative to silver. The silver initially came from the Taxco area about 100 miles southwest of Mexico City. The coin types in this presentation are the types Richard A. Long recommended some years ago to those beginning a type collection of Mexican coins.
A very small number of 8 reales coins were made in the 1530s, with only three examples known today. It was hard to strike well these large coins, about the size of a US silver dollar, with the available equipment. The 4 reales coins issued up to 1571 are affordable and available to collectors, so there is no need to look for a sea salvage coin. Expect to pay a few hundred dollars, or go for a 1 real at just over $100. These coins are relatively round and of good quality. There are no dates on these coins, but the assayer’s initials can be used to put a date range on a specific coin. Brett showed us a coin produced under assayer L. Luis Rodriguez from around 1547 to 1553. The mint mark was changed to Mo to distinguish these coins from those made at the mint in Madrid.
With the tremendous amount of silver mined in Mexico by the 1570s, coupled with the need in Spain for coins as quickly as possible, the cob coinage was introduced. This crude method resulted in large amounts of crude looking coins that still had an accurate weight. The planchets were cut from bars or ingots of silver using an axe, resulting in a wide range of odd shapes. The design seldom fit entirely on a planchet, and a cob with a full date is very rare. The common cobs can be bought for a few hundred dollars, but the 1704 (full date!) 8 reales that Brett showed us goes for much more. It was relatively easy to shave a little corner off of a silver cob without it being obvious – eventually, much of the circulating coinage was underweight. Cobs were made until the introduction of milled coins in the 1730s.
These round coins were struck on a human powered screw press; their beaded edge made it difficult to shave off metal without it being noticed. Many denominations, up to 8 reales, were struck from 1731 to 1771. The 8 reales coins were nicknamed “the Spanish milled dollar” and were the circulating coin of choice in what was to become Canada and the United States. In the US, these coins and the later bust design coins were legal tender until 1857. The obverse shows the world as two hemispheres, topped by a crown and flanked by two columns – the Pillars of Hercules – resulting in their “pillar dollar” nickname. The reverse has a crowned Spanish shield flanked by the assayer’s initials and its denomination as a number of reales.
The bust of the current monarch appeared on the obverse starting in 1771, and remained there until 1821 when Mexico gained its independence. The reverse has a crowned shield flanked by two columns. This basic design appeared on all silver denominations, size permitting. A bust 8 reales can be purchased in almoust uncirculated condition for a few hundred dollars.
The Mexican War for Independence lasted from 1810 to 1821. For the first time, mints opened outside of Mexico City. Many emergency coin issues were made with various designs and by both sides. Suggested type coins from this era can be an 8 reales from a Morelos SUD by the revolutionaries to a Royalist mint in Durango (Do), Gudalajara (Ga), or Zacatecas (Zs). This is another area where a collector can easily be distracted into starting a specialized collection.
In 1822, the former royalist officer Augustin Iturbide was crowned Emperor Augustin I. But finances were precarious and Augustin had harsh policies, so he was forced to abdicate in 1823, resulting in the First Republic of Mexico. Augustin’s coins featured his bust on one side and a Mexican eagle atop a cactus on the other side – the eagle was crowned until the Republic started. Suggested type coins are the ½ real and 8 reales which are available for a few hundred dollars.
The Mexican republic started issuing coins in 1823. Much of Mexico was a fairly lawless area from the early republic into the early 20th century. To reduce theft, more mints were authorized in the mining districts, to mint coins for local use and for export. As before, copper, silver, and gold coins were minted, and the copper coins did circulate. Almost all coinage continued to be made on human powered screw presses until the 1880s. The first coinage of the republic, from 1823-1825 is nicknamed Hook Neck because of the shape of the neck of the eagle on the reverse of the coin – the obverse design was Cap and rays. Because of the large amount of metal that had to move around during striking, this design was very hard to fully strike up, resulting in a transition to a facing eagle design in 1824. Good quality examples of the ½, 2, or 8 reales hook neck are available from $200 to $800. If you might specialize in this area, buy the book Hookneck by Clyde Hubbard and David O’Harrow.
With a few exceptions, the facing eagle design was used from 1824 to 1897. Many coins were produced, and nice uncirculated examples of common dates can be purchased for a few hundred dollars. Many collectors specialize in this series, Decimalization was introduced in 1861, just before the French invasion, with 1 peso, containing 100 centavos, replacing the 8 reales. The book Resplandores by Mike Dunigan and J.B. Parker covers all of the hook neck, cap and rays, and facing eagle coins, by date, mint, and assayer from 1823-1897, and should be bought if you might stay in this area.
The Empire of Maximilian, 1863-1867, provided a short break from the coin designs of the republic. A Maximilian 1 peso can be bought for under $100 in Very Fine condition, but beware of fantasy and counterfeit coins!
A balance scale replaced the cap and rays from 1869 to 1873. Its reeded edge made the 1 peso coins 1mm smaller in diameter and slightly thicker, while the weight remained the same as before. Because it was accepted at a lower value that the previous cap and rays coins, the cap and rays design soon returned and remained in use until 1897. A nice uncirculated coin can be bought for a few hundred dollars, while circulated pieces might be acquired for melt plus $30.
The Liberty Cap peso was introduced in 1898, was used through 1909, and was well accepted. Uncirculated examples sell for over $100, while a circulated coin might cost melt plus $25. Restrikes of the 1898 Mexico City issue were made in 1919, at both the San Francisco and Mexico City mints, at the request of the Republic of China. The San Francisco restrikes were all melted, but the restrikes have a few small known differences from the originals. The Caballito peso of 1910-1914 was designed by the French designer Charles Pillet. This coin design, of Liberty riding a horse, is considered one of the most beautiful in Mexican history. High grade examples cost a few hundred dollars. The new book Un Peso Caballito by Allan Schein is outstanding. This is the last peso coin with this weight of silver – the revolution starting in 1914 caused significant devaluation of the peso, a trend that continues today.
The Mexican Revolution of 1914-1917 required money to pay the forces on both sides. Some coins were produced, with the most common in silver with a denomination of one or two pesos. Some of these coins are very crude, especially the cast ones. Brett showed us an Army of the North peso, a two pesos in gold from Zapata, and one and two centavo coins from the Mexico City mint while Zapata occupied it.
Brett concluded the silver coins with three types: the 1921 Winged Victory two pesos was issued for the centennial of Mexican Independence, the Chief Cuauhtemoc 5 pesos from 1947-1948, and the 1950 Railroad 5 pesos. The rest of the presentation covered the gold coinage of Mexico, which were denominated in escudos for hundred of years, with one escudo valued at 16 reales of silver.
You missed a great program at our October meeting, but this report must end here, without mention of the shown gold coins, so I can work on other parts of this issue.
|CSNS Convention||Chicago Coin Company|
|PCDA Convention||Harlan J. Berk, Ltd.|
Items shown at our October 11, 2017 meeting,
reported by John Riley.
|Date:||December 13, 2017|
|Time:||6:30PM Cocktails (cash bar) and appetizers
7:00PM to 9PM Dinner and Meeting
|Location:||Grand Lux Café, 600 N. Michigan Ave, 2nd Floor (entrance around the corner at 111 E. Ontario St.), Chicago.|
There is a full bar available for early arrivals, before 6:30,
and a private bar from 6:30 to 9:30.
The cost is $50.00 per person, and reservations are required.
Make your reservation either by mail or at our meeting in November.
Make your check payable to Chicago Coin Club,
and either bring it to our November or December meeting,
or mail it to P.O. Box 2301, Chicago, IL 60690.
• Freshly baked bread, freshly brewed coffee, Iced & hot Tea, Signature fresh lemonades, and fountain sodas are included in the pricing. A choice between three appetizers is planned: Beef and Chorizo Empanadas, Bruschetta, or Double Stuffed potato Spring Rolls. A Caesar salad. A choice between three entrees is planned: Miso glazed Salmon with rice and stir fried veggies; Parmesan crusted Pork Chop with mashed potatoes and green beans and carrots; Pasta Milanese (Chicken breast coated with garlic and parmesan bread crumbs) served over spaghettini tossed with tomatoes and lemon butter sauce, garnished with Asparagus and Parmesan.
• Please make reservations as early as you can so we can ensure an appropriate space.
|Parking:||Valet parking at 111 E. Ontario (cash); discounted garage parking at 10 E. Ontario as well as at ROW self parking at 50 E. Ontario.|
|Program:||The speaker will be Stanley Campbell who will speak on numismatics in Cuba. See the December Chatter for details.|
|Date:||November 8, 2017 – Annual Member Auction|
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.
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
Sorry – Due to circumstances beyond our control, there is no list of items in this Chatter.
Unless stated otherwise, our regular monthly CCC Meeting is in downtown Chicago on the second Wednesday of the month; the starting time is 6:45PM.
|November||8||CCC Meeting - Club Auction - no featured speaker|
|December||13||CCC Meeting - Annual Banquet - Featured Speaker - Stanley Campbell on Cuban Numismatics|
|January||10||CCC Meeting - Featured Speaker - to be announced|
|February||14||CCC Meeting - Featured Speaker - to be announced|
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
|Elected positions (two-year terms):|
|Richard Lipman||- President|
|Marc Stackler||- First Vice President|
|John Riley||- Second Vice President|
|William Burd||- Archivist|
|Elliott Krieter||- Immediate Past President|
|Carl Wolf||- Secretary|
|Steve Zitowsky||- Treasurer|
|Paul Hybert||- Chatter Editor, webmaster|
|Jeffrey Rosinia||- ANA Club Representative|
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