• Contents of this Issue
  • Notes
  • Minutes of the 1218th Meeting
  • Joliet Currency (Hometown Cash)
  • Trip Reports
  • Exhibits
  • Upcoming Meeting
  • Important Dates
  • Chatter Matter
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Chatter

Editor’s Notes

For the best experience with our online meetings, a recent entry level PC should provide acceptable real-time video and audio – just remember, the newer the better. Also, acceptable performance will require a good network connection. Instead of guessing at a minimal data rate, I suggest you verify your device can play some online videos in real time. Our page of instructions, to participate in our online meetings, has links to YouTube videos on using the Webex service we will be using. If you have no problems with those videos, there is a good chance you will have no problems with our meeting.

An email will be sent to all members a day or two before our regular August meeting, containing an invitation (as a link) to participate in our August online meeting. If you received an invitation to a prior online meeting, you should receive an invitation to our August online meeting. If you did not receive an invitation to a prior online meeting, email the club secretary, at secretary.chicagocoinclub@gmail.com and request an invitation.

If you could not connect to a prior online meeting, please email the Club Secretary with as many details as you can remember. A club member will help you resolve the issue.

Paul Hybert, editor

Minutes of the 1218th Meeting

The 1218th meeting of the Chicago Coin Club was called to order by President Richard Lipman at 6:45 PM CDT, Wednesday, July 8, 2020. Due to the pandemic shutdown, the meeting was online with 36 members and guests.

The June minutes were approved as appeared in the July Chatter, as posted on the Club’s website. Elliott Krieter gave the June Treasurer’s Report which showed zero revenue and $104.00 expenses. The report was approved.

Announcements:

• First VP Lyle Daly reported the member survey of featured numismatic topics showed U.S. Colonial Coins and U.S. Large Cents received the most votes, followed by Counterfeit Detection, U.S. Half Dollars, and U.S. Gold.
• John Kent announced the cancellation of the Illinois Numismatic Association Annual Convention, September 10-12, 2020, Tinley Park.
• Scott McGowan reported attending July 7th an excellent virtual seminar, by ANA eLearning Academy, on Morgan Dollars with about 500 attendees. Seminars are free for ANA members but require reservations. Visit https://info.money.org/elearning for seminars on other numismatic topics scheduled through December 2020.
• Upcoming club featured programs include:
  • August 12 – Jeff Rosinia The Polio Pandemic, The March of Dimes, and 1946 Design Change.
  • September 9 – Madeline Rodriguez The Effect World War II Had on U.S. Coinage.
  • October 14 – Lawrence Lee The Crane Collection of Indian Peace Medals (tentative as his book on this is going to press soon).
  • POST MEETING UPDATE: James McMenamin, on Latin Monetary Union of the 19th Century, will be in January 2021.

Lyle Daly introduced Dale Lukanich who gave the featured program, Joliet Currency (Hometown Cash).

Second VP John Riley announced the evening’s 8 exhibitors.

The meeting was adjourned at 8:47 PM CDT.

Respectfully Submitted,
Carl F. Wolf, Secretary

Speaker’s Wor[l]d
Joliet Currency (Hometown Cash)

presented by Dale Lukanich,
to our July 8, 2020 meeting.

This presentation gave a brief history of the commerce and currency of the Joliet area, starting from before the European settlers arrived and ending with the 1930s. It did not cover Bar tokens (good-fors), Merchant advertising tokens, Merchant advertising scrip, or Depression scrip.

Long before Europeans settled in the Joliet area, the area was a commercial hub. Evidence of the indigenous peoples’ using items to buy, sell, or trade has been found. The currency used then is far from the currency used today, consisting of items such as animal hides and even shells from the west coast of Florida. Dale made clear this does not show that people travelled between Joliet and Florida, only that the Joliet area was on a trade route.

Dale showed us part of the 1681 map produced by French explorers Marquette and Jolliet, showing what now is the Joliet area. The Des Plaines river runs through Joliet, and it meets with the Du Page and Kankakee rivers to form the Illinois River. The French government authorized the building of a fort (Fort Le Pouz) in 1729, part of a series of 60 forts to promote the fur trade.

As would any proud son, Dale shared with us some of the highlights from his hometown’s history. Joliet was a leader in steel production and other manufacturing; steel production started in the 1860s, and continued strong through the 1920s; a rendition of the Joliet steel works appears on the $10 Federal Reserve Note of 1914 and Federal Reserve Bank notes of 1915. South of Joliet, the Joliet Arrsenal opened in 1940 and started producing munitions July 12, 1941; it later was known as the Joliet Army Ammunition Plant (JAAP); at its peak, the facility covered 23,500 acres; the site has been turned into a number of facilities, including the Abraham Lincoln National Cemetery and the Midewin National Tallgrass Prairie. Joliet currently has three state prisons, with a history of notable real and fictional inmates. Joliet has been a leader in education, with Joliet Junior College, the nation’s first community college, founded in 1901.

Having covered the general history, Dale showed us examples of currency while giving us some background details. The first local paper currency is not from Joliet, but from Juliet. James P. Campbell (treasurer of the I&M Canal commission) purchased land and plotted out a village that he named after his daughter, Juliet; this land was located on the east side of the Des Plaines River. Meanwhile, James McKee had a mill and several acres of land on the west side of the river; it was sometimes referred to as “McKessonville” and later it was called “West Juliet.” The shown 6¼¢ note appears to be dated 1843; the town’s name was changed to Joliet in 1845.

The shown examples of other currency that likely circulated included a $100 note issued in 1839 in Lockport, on the Branch State Bank at Chicago, payable after 90 days to the Treasurer of the Illinois and Michigan Canal. Another example was a pair of 25¢ notes dated mid-1840 of George W. Howe of Rock Run, Will County, Illinois – but Dale has not found any documents identifying that actual location; the note dated June 10 is payable in current Bank Notes, while the note dated July 1 is payable in Canal Scrip.

The shown $2 note of the Oswego & Indiana Plank Road Company is signed by Nelson D. Elwood (President) and Colonel William Smith (Secretary). U.S. Route 30 (the Lincoln Highway) now follows the old plank road, which was a big thing in its day. Dale told us that when a new-fangled railroad tried to obtain land for a route through Oswego, town leaders asked why they needed a railroad when they already had a Plank Road! (Aurora accepted the railroad and became big, while Oswego remained a small town until the 1990s.) Joliet was a major rail hub.

Dale acquired an unissued $10 note of the Chicago, Alton & St. Louis Rail-Road of Bloomington, Illinois after an auction company recommended it based upon his stated interests. Finally, after examining the note multiple times, Dale saw the connection to Joliet – the note promises to pay the bearer at the Merchants and Drovers Bank at Joliet. This was followed by a $1 note of the Merchants and Drovers Bank of Illinois, the first bank in Joliet. This bank lasted maybe 6 years.

Next was an 1862 10¢ note of the Joliet Bank, acquired from the Bowling Green Auction of April 11, 1991 in New York, as lot 4097a. Early Illinois Paper Money by R. Edward Davis lists a 5¢ note only. According to the Chicago Coin Club Bulletin of February, 1938, Mr. Steffen showed a 5¢ Joliet Bank note.

For the remainder of the meeting, Dale showed examples of National Currency from banks in Joliet. The First National Bank of Joliet was organized August 1, 1864 and went into receivership on November 10, 1930. Dale showed us a large-sized $10 note with the bank’s 512 charter number. There are 23 large-sized notes known from this bank.

From The Will County National Bank we saw a $20 Brown Back from the Series of 1882 and a $10 Type 1 small note from the Series of 1929. There are 29 large and 21 small notes known from this bank chartered on September 20, 1871 and entered receivership on July 15, 1931.

The Joliet National Bank was organized on October 29, 1890 and entered receivership on February 10, 1932. We saw a $10 Plain Back Blue Seal and a $20 Type 1 small note of the Series of 1929. The census of this bank’ shows 23 large and 18 small notes.

The Citizens National Bank of Joliet was chartered in September, 1902 and was liquidated on June 26, 1911. We saw two large-sized $10 notes, a 1902 Red Seal and a 1902 Blue Seal, even though the census for this bank lists only a single large note; Dake knows of a collector holding a third large example. On that cautionary note, regarding references, Dale concluded his presentation with the hope that other collectors will research their hometown numismatic history.

Trip Reports

by club members

Paul Hybert reported on planned trips that never happened:

In early March I added, to the club’s website, an 1856 letter regarding the composition of what would become the Flying Eagle Small Cents.

The letter stated that dies for the 1856 Half Cents had struck planchets of a copper/nickel alloy made at an 88-to-12 ratio – 50 examples were sent from Mint Director Snowden to Treasury Secretary Guthrie.

So I decided my project for 2020 was to look for an example of this alloy trial strike at regional and specialized shows. But, with all the shutdowns, I have not attended any coin show in 2020!

I did attend our club meeting in March, and talked with three members about this, but it was new to them. Large Cent collector Dave has only 20 half cents in his collection, and does not consider himself an expert on them. Club member Bob has many specialized interests, but not half cents – he mentioned that Winston’s book on counterfeit coins does not have any struck half cents, and then we wondered if Judd listed it among the off-metal strikes. Coin dealer Bill did not know about these pieces, but we had a good discussion about how he might react when seeing a half cent with the coloring of a Flying Eagle Cent instead of the usual coloring.

Early the next morning, Bob emailed me the Judd numbers (and A&W numbers); then I checked my Breen Half Cent Encyclopedia, where he mentions Snowden’s letter and shows examples of these off-metal pieces. Bill sent me the result of a search of the Heritage Auctions website: 10 examples over 15 years, half slabbed as proofs and half as business strikes.

With this piece apparently now known mainly to specialists, maybe pieces are waiting to be cherry-picked. Be sure to check junk boxes, in case a dealer makes the wrong conclusion for this light-weight and off-color piece.

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Show and Tell

Items shown at our July 8, 2020 meeting,
reported by John Riley.

1. Bob Feiler showed some recent acquisitions from a February, 2020 coin show in Sarasota, Florida:
   1. A 1965 encased Lincoln cent obtained from CCC member Joel Reznick. Some research led to a COINS Magazine article from November 30, 2019, entitled “Would You Encase a Lincoln or an Almond?” The encasement is a political campaign advertisement for Republican Almond Lincoln from Rhode Island – after several failed bids, Lincoln finally reached success in 1994 and was elected Governor. Bob noted as a good thing he campaigned on his first name!
   2. A 1937 C.D. Peacock Jewelry Co. Chicago Fire Relic Token. Recognizing the firm’s 100th anniversary, a tiny shard from the company’s safe (destroyed in the Great Fire of 1871) is struck into the 32 mm brass token. Bob noted it is unusual to see this popular token in gem condition.
   3. Two types of the 1893 Columbian Exposition So-Called dollar, HK-154 and HK-155, struck in gilt brass, and in high grade; the difference is in the size of the lettering. Produced at the Mint Exhibit on the grounds of the Chicago Columbian Worlds Fair.
2. Befitting the many challenges of this modern time, Robert Leonard showed examples on the theme of Harmony and Cooperation. Each coin prominently features a handshake:
   1. A bronze As of Nerva, from 97 AD. The coin celebrated Harmony between Nerva and the Roman Army.
   2. A bronze As of Lucias Verus, from 161/2 AD. This commemorates harmony between the joint emperors Marcus Aurelius and Lucius Verus.
   3. A 1 Penny dated 1791 (struck 1972-93) of the Sierra Leone Company, Craig 2. The interracial handshake shows harmony between British colonists and Africans.
   4. Also from Sierra Leone, a copper Penny token issued by Macaulay & Babrington in 1814, commemorating the abolition of the slave trade by Great Britain in 1807; the reverse inscription in Arabic is similar.
   5. From the United States, a 2004 D (Denver Mint) Jefferson 5¢, commemorating the bicentennial of the Louisiana Purchase (1803-2003) and Westward Journey of Lewis and Clark. This design was copied from an Indian Peace Medal showing an American soldier and Native American shaking hands.
3. Brett Irick showed items from Fremont, Ohio, an early and important Ohio trading center located between Toledo and Sandusky, Ohio:
   1. A newspaper ad from mid-1863 noting receipt of the Charter for the First National Bank of Fremont, Ohio. This was only the fifth National Bank in the United States.
   2. A postcard image, from the early 1900s, showing the bank.
   3. An original series $1 “Ace” note and a $2 “Lazy Deuce” National Bank note issued by the bank. The $2 note derives its nickname from the large numeral “2” displayed horizontally on the front of the note. The first president of the National Bank of Fremont, and signee of the notes, was Sardis Birchard, the uncle and stepfather of 19th U.S. President Rutherford B. Hayes.
4. Adding futher to the evening’s main presentation, Dale Lukanich showed four private advertising currency issues of Hyram Norton & Co., a Lockport, Illinois grain mill and drygoods retailer. The notes, in two different series, were “payable at the Bank of Illinois.” The earlier note is denominated 6¼ cents, and three notes dated 1862 are for 5, 10 and 25 cents. An historical marker now marks the former location of Norton & Co. between 10th and 11th Streets in Lockport.
5. Deven Kane showed on a new theme: a “Giant Schnoz” group!
   1. A 1544 teston of Nancy issued by Anthony, Duke of Lorraine (1508-1544),in very fine condition and ex G.Mihailuk Collection. Antoine (4 June 1489 - 14 June 1544), known as the Good, was Duke of Lorraine from 1508 until his death in 1544. Raised at the French court of King Louis XII together with his brother Claude, Antoine became friends with the Duke of Angoulême, the future King Francis I and holder of one of the most magnificent schnozzes of the Renaissance.
   2. An 1847 one cent coin of Hawaii’s King Kamehameha III (March 17, 1814 – December 15, 1854). From 1825 to 1854 he was was the third king of the Kingdom of Hawaii. Deven told us the king’s original long Hawaiian name, and then the lengthened version when he ascended to the throne. Under his reign, Hawaii evolved from an absolute monarchy to a constitutional monarchy with the signing of both the 1840 Constitution (the first Hawaiian Language Constitution) and the 1852 Constitution.
   3. An undated medal with portraits of Napoleon and his son of mature age; its roughly circular shape arises from the use of an eagle’s head and wings arounf the perimeter. Napoléon François Joseph Charles Bonaparte (20 March 1811 – 22 July 1832) was known in the Austrian court as Franz from 1814 onward, and as Duke of Reichstadt from 1818. At the time of his birth he was Prince Imperial, but he was also known from birth as the King of Rome, which Napoleon I declared was the courtesy title of the heir apparent. His nickname of L’Aiglon (“the Eaglet”) was awarded posthumously and was popularized by the Edmond Rostand play, L’Aiglon.
6. In another nod to local numismatic history, Lyle Daly showed hometown pieces:
   1. A $5 National Currency note from the First National Bank of Oak Park, Illinois. Benjamin Harrison appears at the left on the front, while a Pilgrims Landing scene is on back. Lyle dates the note to late in the third charter period (1916-22) based on the signatures of the Bank President and Cashier.
   2. A photo of the bank building as it exists today – a cafe at the corner of Lake and Austin Streets.
   3. A news article from the September 5, 1920 issue of the Oak Leaves local newspaper, announcing the handsome stone bank’s opening at the Lake/Austin corner.
7. Mark Wieclaw showed two silver U.S. coins with designs and symbolism that appealed to Mark.
   1. A 2016 Proof National Parks commemorative half dollar featuring the National Parks logo. Mark explained the Sequoia tree and bison represent vegetation and wildlife, the mountains and water represent scenic and recreational values, and the arrowhead represents history and archaeological wonders.
   2. A 1921 Peace dollar in high relief. This first-year type coin has a last moment reverse redesign due to the symbology of a broken sword – some in Congress interpreted this WWI termination celebration design as a symbol of national weakness. This recently acquired NCC MS64 example is noteworthy for its unusually strong strike – typically the surface of the one-year high relief piece is quite dull, but this example shows strong detail even in the high points of the hair around Liberty’s ear. Then Mark showed other slabbed 1921 Peace dollars with nigher grades but with flat hair or date.
8. Rich Lipman showed three examples of world currency.
   1. A 500 Latu bill of Latvia from 1929, showing tools of industry and an agricultural scene on the back of the banknote. (Questions about the female figure in native dress on the bill’s front prompted post-meeting research which identified the woman as Zelma Brauere. Her youth, beauty, and warmth attacted Richard Zarins, and her image is seen on several Latvian coins and notes of the period.)
   2. A Yugoslavian 1000 dinera issue of 1935 in classic baroque style with heroic founding figures on horseback as taken from the country’s coat of arms. The reverse design shows an idealized native laborer and fisherman.
   3. A 1946 hyperinflation issue of Hungary denominated as Egymilliard Milpengo. That is 10 to the 15th power pengo, or one billion million pengo. Postwar Hungary suffered the worst case of inflation in history, with a daily inflation rate at over 200%.

Reminder: You can email to John a description of what you will show at a meeting, to give him a start on this write-up. Send it to johnrriley@yahoo.com.

Our 1219th Meeting

Important Dates

Unless stated otherwise, our regular monthly CCC Meeting is online during the Covid-19 isolation era on the second Wednesday of the month; the starting time is 6:45PM CT.

Chatter Matter

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