| Volume 64 No. 4 | April 2018 |
|---|
The 1189th meeting of the Chicago Coin Club was held Wednesday, February 14, 2018 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 25 members.
President Lipman asked for a moment of silence in memory of the passing of member Phil Carrigan, plus the 17 lives lost earlier in day at a Florida school shooting.
The Minutes of January as published in the Chatter were approved. Treasurer Steve Zitowsky reported $411 in January revenue and $478.88 in expenses.
Old Business:
First VP Marc Stackler introduced the featured speaker, Robert Leonard, who gave a program Lesher Referendum Dollars – The Chicago Connection. Following a question and answer period, Marc presented Bob with an ANA Educational Certificate and an engraved Club speaker’smedal.
Second VP John Riley announced the 8 exhibitors. Lyle Daly, Robert Leonard, Mark Wieclaw, Deven Kane, Rich Lipman, Drew Michyeta, Steve Ambos, and Bill Burd. For details see the March Chatter.
Lyle Daly commented on the 1994 video of senior members speaking on collecting and Club history. Lyle complimented the people who put it together, suggested it be submitted to the Newman Numismatic Portal, and put forth the idea that the Club should seriously consider doing another video project of senior members.
The meeting was adjourned at 8:34 PM.
Respectfully Submitted,
Carl F. Wolf,
Secretary
Session I of the 1190th meeting was held March 3, 2018 in conjunction with the PCDA National Currency and Coin Convention, held at the Hilton Rosemont/Chicago O’Hare, 5550 N. River Road, Rosemont, IL. President Richard Lipman called the meeting to order at 1 PM with 19 members and 6 guests: Bill Brandimore, Terence Kafka, Louise Boling, Gene Mitchell, John Vittallo, and Frederick Bart.
Announcements were made on upcoming programs and plans for the Club’s 100th Anniversary celebration.
Second V.P. John Riley introduced featured speaker Dr. Frederick J. Bart, of Roseville, Michigan, who delivered a PowerPoint presentation U.S. Paper Money Errors. Following an extended question-and-answer period, John Riley presented Fred with an ANA Educational Certificate and an engraved speaker’s medal with a neck ribbon.
The meeting was recessed at 2:10 PM, to be reconvened at 6:45 PM, Wednesday, March 14, 2018 at the regular meeting site.
Session II of the 1190th meeting of the Chicago Coin Club was reconvened Wednesday, March 14, 2018 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 19 members.
The Minutes of February were made available to everyone and were approved. Treasurer Steve Zitowsky reported $160 in February revenue and $84.92 in expenses.
It was announced that Steve Ambos is moving to Ohio, and the Board appointed Lyle Daly to fill the vacancy on the Board. Upcoming programs were announced and an example of Fred Bart’s newest book, U.S. Paper Money Errors, was shown along with order forms.
Mark Wieclaw announced an open committee meeting of the 100th Anniversary Committee at 6PM, Wednesday March 21, Connie’s Pizza, 2373 S. Archer Ave., Chicago 60616.
An announcement was made that Don H. Kiick, husband of Kim Kiick, ANA Executive Director, passed away and a sympathy card was made available for everyone to sign.
Jeff Rosinia reported on the recent National Money Show, Irving Texas.
First VP Marc Stackler introduced featured speaker Dale Lukanich who gave a program A Brief History of Cut Coinage. Following a question and answer period, Marc presented Dale with an ANA Educational Certificate and an engraved Club speaker’s medal.
Second VP John Riley announced the 5 exhibitors. Robert Leonard, Deven Kane, Rich Lipman, Lyle Daly and Dale Lukanich.
The meeting was adjourned at 8:16 PM.
Respectfully Submitted,
Carl F. Wolf,
Secretary
a presentation by Frederick J. Bart,
to our March 3, 2018 meeting.
Fred has spent 37 years involved with paper money, and he described the recently released fourth edition of The Comprehensive Catalog of U.S. Paper Money Errors as a labor of love. This presentation took us through the steps in producing paper money, telling us what can go wrong and showing us examples of the results.
US paper money is produced by the Bureau of Engraving and Printing, at both its traditional location in Washington as well as its facility in Forth Worth, Texas. Notes produced at Fort Worth have an FW on them. The first steps in paper money production are the three printing steps: the back design of the note is printed first, the front design is printed second, and the third printing is the overprinting of the face (with seals, serial numbers, and such).
The first type of error Fred showed us was a Board Break, which results in an area of missing ink on the note. During printing, the sheet of paper is pressed against the printing plate by the Impression Cylinder. A break in the impression cylinder means that part of the paper is not pressed firmly against the printing plate. We saw minor, moderate, and major examples. This error can repeat on multiple notes with the same, or growing, void shape.
The Double Denomination error is the king of error notes, and is easy to understand – each side of the note is perfect, but each side is from a different denomination note. This error type is not new, as it started with Fractionals in the 19th century. We saw a Large Size 1918 Federal Reserve Note (FRN) from Boston with a $2 face and $1 back, and then four Small Size notes: $5 face and $10 back, $10 face and $5 back, a $10 face with a $1 silver certificate back, and the last one made, $20 face with $10 back, released just before the last ANA convention in Houston.
The Faulty Alignment error type results from improper feeding of the paper into the press during one of the passes, so that the face and back designs are not aligned relative to each other. One side is correctly centered, and the other is not; that distinguishes this error type from the cutting error types. This is another of the types having minor, moderate, and major examples.
The most common type of error found is the Ink Smear. This results from the inadequate cleaning of the printing plate, leaving residual ink on the plate, to be deposited on the next sheets. The value of an ink smear depends upon the size of the ink blob, but this is an easy error to fake. Depending upon the era and press, the direction of the smear can be either horizontal or vertical on the note.
When the ink does not completely fill the printing plate, an Insufficient Inking error type results; these are also called Ghosts. This error is not common on notes printed before 1963, and we saw minor, moderate, and major examples.
The Inverted Back error type is a legacy name that Fred tries to live with. Since the back is printed first, Fred feels that the proper name would be Inverted Front. This results when the sheet is rotated 180° before being printed on the front, and the result is a note with the face and back designs being upside down relative to each other. On all such notes before series 1981-A, both the face and back are well centered. A change in the cutting stage for all notes from 1981-A to the present resulted in the backs of inverted-back notes to appear to have faulty alignment in addition to being upside down; the back of each inverted-back note now has parts of two separate notes.
To qualify as a Missing Printing error, a note must not have any part of the design for the skipped printing stage. This error can occur in a number of ways: two stuck-together sheets go into the press, with only the top sheet being printed (this is the most common scenario), a group of sheets skips over a printing stage, the printing press is shut down during a run, or a printing plate retracts during a run. We saw a $10 note missing its first (back) printing, and a $1 missing its second (face design) printing so that the face has only the seals and serial numbers.
In addition to the three complete printings, a Multiple Printing error has a partial or complete extra impression of one of the printings. The most common cause is having a stack of imprinted sheets get passed through the press an extra time, but stopping and starting a press during a run might cause this, as might a loose plate that makes contact twice. We saw a $2 with a second occurrence of the third printing, with the multiple printings shifted vertically, so the the bottom of the 22822652 serial number just touches the top of the 22822648 serial number. We also saw a $50 and $1 notes with an extra face printing just slight off from the original, resulting in a fuzzy image that had me reaching for my reading glasses – they did not help. This type of error is quite rare.
An Obstructed Printing results from stray material coming between the paper sheet and the printing plate. The most common material is scrap paper, but tissue paper, celophane, fiber threads, adhesive bandage backings, masking tape, cloth, and cardboard were also mentioned. The scrap usually falls off before reaching circulation, but we saw three examples of the printed adherence and the note with a corresponding blank spot.
If a sheet of paper is not fed through the press when expected, the impression cylinder will touch the inked printing plate and will pick up the ink. The next sheets through will be an Offset Printing error, with the intended image being printed here on both sides, but the side printed by the impression cylinder will be the mirror image, giving the appearance of having bled through the note from the other side. The first produced error note can be very obvious, but the effect fades out after 8 to 12 sheets are printed. We saw a Back-to-Face (B2F) $1 and a Face-to-Back (F2B) $100, and we saw minor, moderate, and major examples, depending upon the intensity of the extra printing.
The Inverted Overprint error results from the sheet’s being fed into the press 180° from usual for the third printing. The seals and serial numbers will be printed upside down and in the wrong position. On the notes from series 1935 to 1963-A, the signatures of the Treasurer of the United States and the Secretary of the Treasury will also appear incorrectly. On notes printed before 1981, the face design is well centered; because trimming the selvedge was moved to prior to the third printing, notes since 1981 will have a sliver of the face design missing at the bottom of the note (and will have a sliver of design across the top of the note. Although circulated examples are known to VF, many are in uncirculated condition because they often were pulled out by bank tellers.
If a sheet is improperly fed for the third pass, the overprints can appear in the wrong place, known as a Misaligned Overprint. The amount by which the sheet is misfed determines by how much the overprint appears shifted from its intended position. To qualify as this error, Fred believes a portion of the overprint must appear atop a portion of the design that was not intended to be covered.
The Mismatched Serial Number error often results when the operator did not set the two numbering wheels to the same number. It can also occur when one numbering machine gets stuck while the other continues to work properly. Mismatched Block Letters (the prefix and suffix letters of the serial number) result from human error during press setup. The most common cause for a Missing Overprint is having two sheets stick together when fed into the press for the third printing, so only the top sheets is printed; Other causes are a large obstruction or the complete skipping of the third printing for a stack of sheets. The last overprint error that Fred showed us was the Overprint on Back, which results from sheets being fed in with the wrong side facing the printing heads.
The last errors Fred showed us were due to folds in the sheets, which sometimes combined with cutting errors. The discussion after his talk touched on a number of topics, mostly about the very notes and aspects of their production. Infrared ink, the security strip, reflective ink, and other new features can have something wrong. The classic errors shown during the talk are less common with the modern issues because current systems scan each sheet and compare it against a reference image. The fourth edition of Fred’s book, The Comprehensive Catalog of U.S. Paper Money Errors, has been released – refer to it for more details about errors on paper money, and also look at Fred’s commercial website, www.ExecutiveCurrency.com
by Dale Lukanich,
presented to our March 14, 2018 meeting.
The presentation started with a slide titled IN THE BEGINNING! and showing the first cut coin Dale ever bought. This is a Roman bronze coin (maybe low-grade silver) that was used in commerce. Over the years, his collection of cut coins has grown to more than 250 examples.
Dale’s first point for us to consider was to think of
coinage not only as a denomination but also as a commodity.
He cited an early account (circa 2050 BC) from well before
the first coins appeared.
GEN 23:16. Abraham agreed to Ephron’s terms and
weighed out for him the price he had named in the
hearing of the Hittites: four hundred shekels of silver,
according to the weight current among the
merchants.
This was not about money – it was about a commodity.
Local merchants would have a set (or series) of weights
to use against the commodity metal you were using; a balance
scale would be used with the weights on one side and the metal
on the other side.
Dale’s second point considered why the cutting of coins. “Coinage” started around 650 BC as little more than a measured lump of a gold and silver mix known as electrum; these measured lumps came in a small range of weights. When the value of a coin depended upon the metal in it (treating it as a commodity), an easy way to obtain a piece having a non-standard value was to cut a piece from a larger piece.
Dale’s third point asked where this happened. The answer was anywhere in the ancient world and after, where the value of a piece was determined what was in it. In the ancient world, most cities (states) had its own weight standard; when cities formed a “league,” a uniform standard was set for the entire group. In addition to the local need to cut coins, transactions outside of your own area, whether for trade, the hiring of mercenaries, or some other purpose, could require cutting when there was not a simple one-to-one exchange rate between any of the coins. Nobody wanted to overpay and nobody wanted to be underpaid, so the cutting would begin until a mutually agreed amount was reached.
Having put us in the right frame of mind, Dale proceded to show us examples from his collection, in a roughly chronological order. First was a cut example of a globular lump; weighing at 1.23 grams, it is roughly half of a one-sixth stater (weighing 2.29 grams) from the general Ionia area circa 650-600 BC. Next was a 5-gram piece cut from an Athenian “Owl” silver tetradrachm (17.20 grams) after 449 BC; this piece has all of Athena’s ear as well as part of her neck and hair. As is typical with cut coins, there are no marks to indicate where or when the coin was cut.
Next up was a 7.60-gram piece from a 14.43-gram silver tetradrachm of Phillip II of Macedon (359-336 BC), with the lower part of the head of Zeus present on this piece which weighs about half of the original type. A 3.2-gram piece from Celtic Gaul (100-50 BC) is not a simple fraction of the weight of the original type which weighs in about 3.9 grams; was this made too heavy and then fixed at the mint, or was it altered later in commerce? If you like asking questions about your coins, the area of cut coins is for you – but if you like answers, look somewhere else.
Roman Provincial bronze coins were next, with four examples shown. The host coins for the first two pieces both had two busts arranged back to back, so it is no surprise that these coins were cut between the heads, at the thinnest place of the coin. The 11.6-gram left half of an 18.9-gram coin from 36 BC Vienna (Gaul) has the bust of Julius Caesar – the missing half would have the bust of Octavian. The 6.8-gram right half of a 12.43-gram coin from 16-10 BC Nemausus (Gaul) has the bust of Augustus – the missing half would have the bust of Agrippa, and the reverse design is a crocodile chained to a palm tree. This is Dale’s most common coin, owning about a dozen.
The last two Roman Provincial coins were from Spain. Not all denominations were available in the provinces, so the cutting of coins was more prevalent than in Rome. The piece of a 16.16-gram original coin from Kelse (133-100 BC) is about half of the original and was cut diagonally through the major design elements. The 12.7-gram original coin from Turiaso (14-37 AD) has the bust of Tiberius on one side and a standing bull on the other side, while the shown 3.3-gram pie-shaped piece has a few letters of the legend and about half of the hair of the obverse bust. This piece was bought on eBay Spain for $2-$3 when buying multiple coins, but shipping is extra.
A 1.1-gram rectangular piece was matched to the designs on a 3.89-gram silver denarius of Rome (104 BC). The original coin has a helmeted head of Roma on one side and the other side has Victory driving a biga, while the small piece shows only the nose and eye of Roma near the rim on the left, and ends in the helmet on the right. The 5.6-gram semicircular piece was matched to a 9.7-gram bronze dupondius struck in Rome in 181 AD; the face and hair of the radiate head of Commodius (177-192 AD) barely fit onto this piece. Not just coins were cut – Dale showed us half of a bronze Roman medallion originally weighing 48 grams and coming from Pergamon; one side has a bust of Caracalla (198-217 AD) while the other side shows three temples.
The cutting of coins was not limited to ancient times, as Dale showed with some medieval European coins. From the era of the Normans in Sicily, we saw a 0.4-gram piece from a 1.53-gram gold tari of Roger II (1105-1154). That was followed by a half of a silver penny from Great Britain, issued under Henry III (1216-1272). The original is of the long cross type struck 1251-1272, so named because of the cross on the reverse that divides the design into quarters by reaching from rim to rim. The cross is also called a voided cross because each of the four arms is rendered as two thin parallel lines with a gap (void) between – these voids were handy guidelines for cutting, and halves and quarters of this original coin type are very common.
In the early days of the US, cut pieces of Spanish Colonial silver coins were common. Dale showed us a 6.6-gram piece of an 8 reales of Charles IV (1788-1808) issued in Mexico; this pie-shaped piece has the reverse design from about 4 to 6 o’clock on the original. Even US coins were cut, as Dale showed us with 1.2-gram semicircular piece from a 2.67-gram 1862 dime, cut vertically. The last coin shown to us was a 5.9-gram semicircular piece from an 1848 cent weighing 10.89 grams, to make a half cent.
At a coin show, Dale usually finds examples in the $5-$10 range. These coins typically are listed as “damaged” instead of “cut.” Dale encouraged us to embrace cut coins. When we see one, ask about it, study it, and share the passion.
| CSNS Convention | Chicago Coin Company |
| PCDA Convention | Harlan J. Berk, Ltd. |
Items shown at our March 14, 2018 meeting,
reported by John Riley.
February 21, 2018
The Chicago Coin Club Board met February 21, 2018 at Connie’s Pizza, 2373 S. Archer Ave., Chicago. John Riley, 2nd V.P., called the meeting to order at 6 PM with the following members present: Bill Burd, Paul Hybert, Mark Wieclaw, Steve Zitowsky, Elliott Krieter, Melissa Gumm, Jeff Rosinia, and Carl Wolf. Absent were Richard Lipman and Marc Stackler.
The following points of business were discussed:
The meeting was adjourned at 8:00 PM.
Respectfully Submitted,
Carl F. Wolf,
Secretary
March 21, 2018
Attendance: Mark Wieclaw, Dale Lukanich, Dale Carlson, Steve Zitowsky, Melissa Gumm, Elliott Krieter, Jeff Rosinia, Sharon Blocker, Richard Hamilton, and Bill Burd.
The meeting started at 6 PM at Connie’s Pizza. A motion was passed for $388.05 to cover payment of 100 Century Club pins for 100th Anniversary. These pins would be given to all who donated $100.00 or more towards anniversary meeting. Also, ribbons are to be given out for different levels of patronage: platinum 500, gold 250, century club 100, silver 50, and bronze 25. The date for the banquet has been set for August 6, 2019. Possible banquet locations are Gibsons, Hyatt, and the Convention Center. Price to be determined.
The Anniversary booklet is currently not to have any advertising. Concerning 100th Anniversary medal, several ideas were suggested. A medal showing an older hand to a younger hand or generation. Another was for coins going into Buckingham Fountain. Jeff Rosinia proposed an interesting “shield-shaped” medal modeled after Chicago Marathon Medal. Richard Hamilton volunteered to photograph Chicago Landmarks for an idea. We are looking for ideas either in photo or art with a deadline of June 1st.
The banquet medal for those attending the banquet would be bronze, while the official medal (paid by subscription) will be gold and silver, with bronze a possibility. Committee suggested a limit on number minted because of large number of past medals accumulated. A process set is possible.
Concerning promotions, a Save the Date postcard was suggested as was a coaster, showing coins minted in 1919, by Carl Wolf. Coasters would need to be ready for Phily show in August. Cost for coasters $411.34 for 2500 and $537.92 for 5000, plus cost of freight and artwork. Price difference between coaster shown to committee and a thinner version to be explored.
A special edition Red Book was suggested. For 264 books, cost would be $11.00 each to club. Sale price to be determined as would number made.
Possible speakers could be President of ANA or other luminaries in numismatics. Celebrations during 2019 could be dinner and a speakeasy or educational seminars and classes. Jan 2019 is CCC 1200th meeting and the kickoff of our anniversary year. A BEP souvenir card was suggested and would need a contact person to contact BEP.
Next meeting date is May 23, 2018 subject to change. Meeting ended about 7:30 PM.
Richard Hamilton,
Acting Secretary
| Date: | April 11, 2018, First session |
| Time: | 6:45 PM |
| Location: | Downtown Chicago
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. |
| Featured Program: | Warren Schultz
— Using Coins to Date The Thousand and One Nights
Whether called The Thousand and One Nights or The Arabian Nights Entertainments, or some other title, many people are familiar with the story collection known in Arabic as Alf Layla wa-Layla. The frame-story of princess Scheherazade telling stories every night to prolong her life was first introduced to the wider world in 1704 CE, when Antoine Galland published the initial volume of his French translation and adaptation of the Nights. These tales are quite old and emerge from several traditions, and the earliest surviving manuscript fragment of what is recognizably part of the Nights dates from the 9th century CE. It consists of a single page, and is found here in Chicago at the Oriental Institute Museum. The next oldest surviving manuscript is much longer, containing 35 stories. This manuscript was used by Galland, and is preserved in the French National Library in Paris. A case could be made, not entirely tongue-in-cheek, for calling it the holy grail of Arabian Nights studies. The date of this second manuscript, however, has been the subject of an intense debate amongst scholars of Arabic literary and folkloric traditions. The scholar who prepared a critical edition of this manuscript argued that it was a 14th-century copy of a now-lost version written down in the 13th century. This date, however, has been challenged on the basis of numismatic terminology found within the manuscript itself. It turns out that two of the stories in the manuscript refer to a gold coin called an Ashrafi dinar. This talk will walk you through the textual evidence in the manuscript and mesh that with the numismatic data of medieval Egypt and Syria – including examples of actual Ashrafi dinars – to illustrate how the later date is the only conclusion that stands up to scrutiny. |
| Date: | April 28, 2018, Second Session |
| Time: | 1:00 PM |
| Location: | At the Central States Numismatic Society (CSNS) Convention, which is held at the Renaissance Hotel & Convention Center, 1551 N. Thoreau Drive, Schaumburg, IL. |
| Featured Program: | Beth Deisher
— The Ongoing War Against Counterfeit Circulating Coins, Collector Coins, and Bullion Coins
The United States is experiencing a pervasive invasion of counterfeit coinage at every level, including: circulating coins, collector coins, and bullion coins. As a Director of Anti-Counterfeiting at ICTA, Beth Deisher is on the forefront of educating agents within Department of Homeland Security, U.S. Customs and Border Protection, and the Secret Service to better enable them to bring counterfeiters and those who traffic in counterfeits to justice. Be sure to make time to attend this program and hear Beth give a behind-the-scenes look at how the U.S. Government is dealing with these criminal cases, how they are investigated, how ICTA assists, and how the collecting community can also help. Learn how the flood of counterfeiting flows with whatever collecting coins are popular at the moment. They also counterfeit the packaging, including plastic encapsulation, labels, mint holders, etc. Beth will explain the motive behind counterfeiting with ties to money laundering, illegal drug trade, terrorism, and human trafficking. With the turmoil in today’s world, almost certainly this problem will increase. We asked Beth to give a current up-to-date report, which means there will not be a handout. Be sure to bring a notebook and plan to come away with an eye-opening understanding of the forces at work against our community. Attendees will leave with an awareness that might very well save them from making mistakes costing thousands and thousands of dollars. |
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.
| April | 11 | CCC Meeting - Featured Speaker - Warren Schultz on Using Coins to Date The Thousand and One Nights |
| April | 19-21 | Chicago Coin Expo which is held at the Palmer House Hotel in downtown Chicago. There is a $10 admission charge. For details, refer to their website, http://www.coinexpo.org. |
| April | 26-28 | 79th Anniversary Convention of the Central States Numismatic Society at the Schaumburg Renaissance Hotel & Convention Center, 1551 North Thoreau Drive, Schaumburg, IL. There is a $5 per day admission charge, but admission is free for CSNS Life Members. For details, refer to their website, http://www.centralstates.info/conv.html. |
| April | 28 | CCC Meeting - 1pm at the CSNS Convention,
which is held at the Schaumburg Convention Center.
No admission charge for our meeting.
Featured Speaker - Beth Deisher on The Ongoing War Against Counterfeit Circulating Coins, Collector Coins, and Bullion Coins |
| May | 9 | CCC Meeting - Featured Speaker - Mark Wieclaw on Collecting Ancient Coins 101 |
| June | 13 | CCC Meeting - Featured Speaker - to be announced |
| July | 11 | CCC Meeting - Featured Speaker - to be announced |
http://www.ChicagoCoinClub.org/
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 |
| Directors: | Lyle Daly
Melissa Gumm Dale Lukanich Mark Wieclaw |
| Appointed positions: | |
| Elliott Krieter | - Immediate Past President |
| Carl Wolf | - Secretary |
| Steve Zitowsky | - Treasurer |
| Paul Hybert | - Chatter Editor, webmaster |
| Jeffrey Rosinia | - ANA Club Representative |
chatter_editor@yahoo.com
The print version of the Chatter is simply a printout of the Chatter webpage,
with a little cutting and pasting to fill out each print page.
The webpage is available before the Chatter is mailed.
If you would like to receive an email link to the latest issue instead of a mailed print copy,
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