• Contents of this Issue
  • Notes
  • Minutes of the 1229th Meeting
  • Counterfeiting Fish Scales: Three-Cent Silver Counterfeiting from 1851 to 1862
  • Exhibits
  • Minutes of the Chicago 2021 ANA Convention Committee
  • Upcoming Meeting
  • Important Dates
  • Chatter Matter
  • Share This Issue!
• Other Chatter Issues
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Chatter

Editor’s Notes

We seem to be adjusting to our online meetings. Members sometimes have connection problems, so it is recommended that you send any images and video to Deven, our meeting moderator, ahead of time, even if you plan to share those items from your PC live during the meeting. When online, do not rely only upon your Plan A!

Covid-19 restrictions are easing. Conditions are improving, and local shows are reopening. Did any member attend the show at the Tinley Park Convention Center on June 24-26? How was it? Please get back in the habit of submitting a short trip/show report for the Chatter. A bit farther afield is the upcoming Cincinnati Numismatic Association show on July 30-31 – details are at http://cincinnaticoinclub.org/. I see club member Joe Boling will speak on The Warrington Faker on Saturday, July 31.

And then we will gather in Rosemont for the annual ANA convention. Take good notes, and submit reports!

Paul Hybert, editor

Minutes of the 1229th Meeting

The 1229th meeting of the Chicago Coin Club was called to order by President Lyle Daly at 6:45 PM CDT, Wednesday, June 9, 2021. Due to the pandemic shutdown, the meeting was online using Webex with 27 members, but rose to 36.

Club Meeting Minutes

The May 12, 2021 meeting minutes were approved.

Guests and New Members

No new membership applications were received. Robert L. Hamilton, invited guest of Kurt Hyde, was introduced but was not at the meeting at the time of his introduction.

Treasurer’s Report

Club President Lyle Daly recommended that we forego the treasurer’s report to later in the meeting due to availability of the club treasurer.

Old Business

1. Club Member Robert Leonard commented about past discussions on the length of Show and Tell, and that the aspects of online meetings probably contributed to longer presentations.
2. Committee reports:
   1. Technology Committee: Carl Wolf reported the Chicago Bar Association recommended the CCC purchase its own equipment to do hybrid meetings. Their cost would be about $200 per meeting, with further details at our next club meeting. Lyle Daly reminded that our intention is a first hybrid meeting in August, during the ANA World’s Fair of Money (WFoM), if possible.
   2. ANA WFoM host committee: Lyle Daly reported approval of the host club stipend from ANA, waiting on parking pass details from ANA, and the page application deadline is July 17, 2021.
   3. Hall of Fame committee: Deven Kane stated they are moving forward with current submission(s) and to send any last-minute nominations.
   4. Banquet Committee: Bob Feiler reported they are looking for a venue for the December banquet, and hope to report more at the July meeting.

Treasurer’s Report

Treasurer Elliott Krieter presented the report for May, 2021, stating revenue of $155.50 with expenses of $223.76, for a net change of -$78.26. Revenue was from memberships and club material sales, expenses were from postage and printing of the Chatter and medal engraving.

New Business

1. Carl Wolf announced CCC member Madeline Rodriguez received an ANA scholarship to attend the university of her choice. She is looking at Aeronautical Engineering at the University of Illinois and has the possibility of a second scholarship in 2022 by maintaining a B average. Congratulations Maddie!
2. Mark Wieclaw reported on a Joint Dinner with the New York Numismatic Club (NYNC) during the 2021 ANA WFoM. NYNC has requested an outdoor venue. Plans are being researched; anyone interested in attending should email secretary.chicagocoinclub@gmail.com
3. Club President Lyle Daly presented the names of CCC members running in the ANA 2021 Election. The Chicago Coin Club, as a club member of the ANA, has one ballot to cast. The CCC traditionally only votes for candidates who are members of CCC. Four candidates were identified: Donald H. Kagin, PhD for President; Joseph E. Boling for Vice President; and Clifford Mishler and Shanna Schmidt for Governors. The club approved the motion and the CCC Board will submit the club ballot. CCC members were reminded that CCC members who are also ANA members are encouraged to cast their ballots as they see fit.

General Announcements

1. John Kent announced two upcoming coin shows:
   1. The Greater Chicago Coin & Currency Show, June 24-26, 2021 at the Tinley Park Convention center. See http://www.chicagocoinshow.com for details. This show will feature exhibits and education programs.
   2. The ILNA Coin and Currency Show, September 9-11, 2021 at the Dupage County Fair Grounds. See http://www.ilnaclub.org for details.

Don Kagin asked to address the meeting and applauded the CCC for embracing virtual [online] meetings. Don said that he is looking to promote integration of virtual into in-person meetings, and if elected as ANA President he plans to push forward with education on virtual meetings. Don believes hybrid virtual/live meetings will open a huge opportunity for both attendance and educational presentations. Don also offered information about recent coin auctions including the 1933 Double Eagle that sold for a record $18.9 million, and declared the hobby is alive, well, and looks great.

First V.P. John Riley introduced featured speaker Winston Zack on Counterfeiting Fish Scales: Three-Cent Silver Counterfeiting from 1851 to 1862. Following a question-and-answer period, John announced Winston would receive an ANA Educational Award and engraved Club medal.

Second V.P. Melissa Gumm announced there were five exhibitors for the evening.

The next meeting will be July 14, 2021.

Lyle Daly adjourned the meeting at 8:56pm CDT.

Respectfully Submitted,
Scott A. McGowan, Secretary

Speaker’s Wor[l]d
Counterfeiting Fish Scales: Three-Cent Silver Counterfeiting from 1851 to 1862

presented by Winston Zack,
to our June 9, 2021 meeting.

As with most coin types, the 3¢ silver type did not suddenly spring forth fully formed. Club member Winston, in his first featured presentation to us, started by covering the back-story. The first slide showed Dr. Lewis Feuchtwanger and his 1¢ and 3¢ tokens dated 1837; these pieces were privately produced to interest the government in the use of “Feuchtwanger’s Composition” in the making of coins. (It consists mostly of copper, with zinc and nickel in the mix; it has a silvery appearance. The various combinations of these metals have also been called German silver and nickel silver.)

During this time period, some foreign silver coins were still legal tender because the US Mints could not produce sufficient amounts to meet the demand. The dollar-valued silver 8 reales of Mexico were common in circulation, as were its halves, quarters, and smaller denominations. The Mexican-American War of 1846-1848 interrupted that source of coinage, worsening the coin shortage. The war ended with the signing of the Treaty of Guadalupe-Hidalgo on February 2, 1848 which also added to the US the land that now forms the southwest of the country; just a week prior, and unbeknownst to the Treaty signors, gold had been found at Sutter’s Mill. The California Gold Rush resulted in a flood of gold on the market, rising the value of silver relative to gold. US silver coinage began to be exported, starting with the largest denominations; the smallest denominations and most worn coins (10-15% loss of weight) remained.

We saw a slide of three pattern 3¢ pieces from 1849 and 1850: a contemporary Seated Liberty obverse with a plain III reverse; a 3 on the undated obverse and a III on the reverse, likely not a serious design (appears to be a muling of two reverses; and a Liberty Cap with Rays obverse and UNITED STATES OF AMERICA around a wreath encircling III on the reverse. The cap and rays design is similar to that used on the mint’s 1836 First Steam Coinage medal, as well as on the Mexican Cap and Rays coinage. The postage act of March 3, 1850 introduced a new, lower letter rate of 3¢ for more than a thousand miles, which some feel created further demand for a 3¢ coin – the prior rates had been 5¢ and 10¢.

Having completed the backstory, Winston next showed slides for the issued coins. The final, approved coin was quite small (14 mm in diameter), and was nicknamed ‘trime’ and ‘fish scale’ by the public. The coin was thin, making it prone to bending and damage. This, the smallest silver denomination, had only a 75% silver composition and 25% copper, so it was not exported. The mint made ½¢ seigniorage on each piece. Although they were common in circulation, they became annoying to the public due to their small, thin size, and the public could only redeem these coins for $3.00 maximum.

The silver 3¢ coins were made in three styles: about 36,000,000 were made of Type 1 (1851-1853); less than 6,000,000 were made of Type 2 (1854-1858), which added an outline to the obverse star and an olive sprig above, and bundle of arrows below, the reverse denomination of III; and even fewer were made of Type 3 (1859-1873), which saw a reduced star outline and the silver content rise to 90%. Because of the Civil War, from 1863 few coins were struck – mainly for collectors.

There are admittedly relatively few collectors of 3¢ silver coins. This is due to its being an odd-denomination, its being minted for only 23 years, and it is very small in size. The first (and only) book on 3¢ silver coins was published in 2010, The Authoritative Reference on Three Cent Silver Coins by Kevin Flynn and Winston Zack. It covers many aspects of collecting the series, with Winston focused on the patterns and counterfeits.

To congratulate us on making it to the main part of his presentation, Winston showed an image of a PCGS slab with a CAC sticker. The encapsulated 1861 piece is graded XF45, but the slab does not mention the piece is a contemporary counterfeit – it was inadvertently graded by PCGS. That was followed by a series of questions – when?, why?, how many?, and how to collect? – which would be answered in the remainder of the presentation.

People were counterfeiting the 3¢ silver coins from 1851 to 1862, the hey-day of large 3¢ silver mintages. This conclusion is supported by historical documentation, especially local newspaper reports. All documented counterfeit 3¢ silver varieties fit in this date range. Counterfeits of the 3¢ silver coins dated 1863 to 1873 are not known and Winston offered some reasons: very low mintages, the removal of precious metal coinage during the Civil War and Reconstruction, and almost nobody in the eastern half of the U.S. was counterfeiting any coins. The earliest press account found by Winston was in the July 7, 1851 American Telegraph, which briefly stated: “Small Business.—Counterfeiting three-cent pieces.”

Although half-cents, cents, and half-dimes were rarely counterfeited, there were a number of reasons the 3¢ silver coins were counterfeited more often. They were common in circulation, and it is best to counterfeit something which does not elicit a “What is this?” response. Much of the 90% silver coinage was pulled from circulation, so these low-composition pieces might be the only silver pieces available. Few people likely gave it a close look for authenticity due to its small size and denomination. Finally, there were smaller legal consequences (fines and prison sentences) for counterfeiting denominations less than 5¢, compared to counterfeiting the larger denominations.

Although 9 counterfeit 3¢ silver varieties were published in 2010’s Flynn and Zack, 42 varieties are documented within the soon-to-be-published book Bad Metal: Silver; of these, 40 were die struck and two were cast. (Winston told us that the 9 original varieties should be 8, because one is a later die state of another.) Of the 40 die struck pieces, 35 are from hand-made dies while 5 are made from transfer dies; 33 varieties lie among 8 families, with 7 singletons; and all were struck in German silver. Both of the cast pieces were made of white/pot metal. We saw pieces from a hand-made die and a transfer die, as well as a cast piece (we also saw a mold for casting).

Earlier, Winston had mentioned that 33 varieties lie within 8 families. A group of varieties having the same characteristics and look can be grouped into a family – we saw a slide with three varieties placed in the ‘Kindergarten Engraver’ family (giving you an idea of the design’s quality. The shield with the central obverse star was the same mis-shapened thing, while some varieties used stars around the border instead of UNITED STATES OF AMERICA. These were all dated 1855, with the date observed on the obverse, reverse, and even both sides. Two of the reverses show the date sideways, at 3 o’clock, in front of the C’s opening; the third reverse does not have enough details to see a date.

To put counterfeiting into perspective across the nineteenth century, Winston showed his table of the top 5 coin types with known hand-made die-struck counterfeit varieties (to get the per-year values, Winston excludeed the years of limited mintages and circulation). The Capped Bust 50¢ (33 years from 1807-1839) led with 294 varieties at about 8.9 per year. Next was the Shield 5¢ (10 years from 1866 to 1875) with 32 varieties at 3.2 per year. In third was the silver 3¢ (12 years from 1851 to 1862) with 35 varieties at about 2.9 per year. The gold $1 and Seated 10¢ rounded out the top 5.

The above hints at the number of counterfeiters, but the actual number of pieces made involves much guesswork. Ten years ago Winston might have guessed at 10,000 pieces, but a current guess would have to be 100,000 or more of the silver 3¢ pieces. For example, a report in the Poughkeepsie Journal of July 30, 1853 mentions some 20,000 ($600) being made in a grocery store in Rochester, New York; all dated 1853.

The number of surviving counterfeit 3¢ silver coins is much lower. In 2010, Winston estimated about 500, based on limited information and evidence. Today, with improved census data, he estimates 1,000 to 2,000; 50-100 examples show up on eBay each year. The 24 varieties with no readable date or dated 1851 to 1859 account for about 30% of the surviving population, while the 16 varieties dated 1860 to 1862 account for about 70% of the surviving population. One 1861 variety alone accounts for about 14% of the entire surviving population!

Winston estimates 15 to 20 unique 3¢ silver counterfeiting operations, based upon: 8 Families, 7 Singletons, and 2 Casts. Only 7 unique operations are documented from historical research, so additional operations might be identified from further searches of archived newspapers. The first auctions with counterfeit 3¢ silver were in the 1860s and 1870s. The listing for lots 329 and 330 in the Bangs, Merwin & Co. auction of April 17, 1862 was shown – it was terse.

There are many possible collecting strategies, including: type, date, variety, or family. The cost of a piece can be from $5 to $300, but usually is less than $100 per piece. Generally, the cruder the die work the more valuable the variety becomes, but rarity also is an important factor.

For further information and to contact Winston, visit Badmetalcoin.com

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Show and Tell

Items shown at our June 9, 2021 meeting,
reported by Melissa Gumm.

1. Reflecting on the evening’s featured speaker’s topic, John Riley showed two unusual pieces of contemporary nineteenth century “counterfeits.”
   1. The Central Glass Company of Wheeling, West Virginia produced a line of household “pressed glass” tableware around 1892, bearing designs inspired by the circulating coinage of the time. The line of glassware was named “The Silver Age.” The product run was halted by the U.S. Treasury within a few months under threat of prosecution for counterfeiting! There was some debate at the time about the government’s thwarting of the political ambitions of the Republican owner of Central Glass – clearly the glass uniface “coin” designs could hardly be passed as good metal.
   2. The Central Glass Company would go on to produce similar imaged glass for Chicago’s Columbian Exposition. Fostoria Glass of Fostoria, Ohio would produce a prolific and similar multicolored run in the 1960s and 1970s. Exhibited were a cake stand of the original design as well as a later candy jar (1960s) of Fostoria “Coin Glass.” John showed close ups of faithful images of a 1892 Morgan dollar obverse and reverse as well as an 1892 Seated Liberty quarter. The later Fostoria glass features a generic eagle design with an 1886 date and a patriotic torch motif.
2. Mark Wieclaw shared two items of very different periods of history.
   1. First was an item from the April 1995 edition of the Chatter, which referenced the new in-thing, the “Internet.” To think, now we meet via the internet. Oh, how far we have come!
   2. As we have likely learned through show and tell, a brockage can be rare. Mark showed an extremely rare counter brockage of a silver denarius of the Roman Emperor, Severus Alexander, circa 226 AD. A counter brockage occurs when the obverse side is struck not by the obverse die, but the incuse obverse side of a previously struck brockaged coin.
3. Deven Kane showed several large pieces from his primitive money collection, which he would not have shared if we were meeting in person.
   1. First was an Alor Island Gong described as a fine gong from Alor Island. These pieces formed part of the bride price and dowry payments in that area.
   2. Next was a Trombash Currency Knife described as what was once thought to be another variety of throwing knife, the trombash – made by tribes in the Sudan and Upper Nile regions – is an iron knife with a single curved blade. A trombash was sometimes a symbol of rank as well as currency. This antique example shows wear from use, with some loss to the handle.
   3. Lastly, he showed an Alor Island Moko – a huge bronze kettledrum, or gong (mokos), which were the most highly valued money of Alor Island, Indonesia. These drums originated in the Dông So’n culture of North Viet Nam circa 1500-500 BC, but it was only much later on Alor that they turned into money. Mokos were an indispensable component of the bride price. Lending and borrowing mokos kept the men of Alor so busy that they had no time for gardening or physical labor, which was done by women. The Dutch Colonial Government attempted to abolish the moko system in 1914, when it banned their import and had 1,600 that were turned in for tax payments crushed and melted. However, the Alorese held many back. Mokos are used for the purchase of brides even now.
4. Kurt Hyde showed two 1837 Hard Times tokens which he had purchased this spring, and was pleasantly surprised with their prices. Both tokens are examples of HT-71 “I Take the Responsibility” which are listed as R-3 rarities (201-500 known) in A Guide Book of Hard Times Tokens by Q. David Bowers. The token’s obverse features “I Take The Responsibility” encircling Andrew Jackson emerging from a treasure chest, while the reverse has a Donkey, the symbol of the Democratic party, with LLD on its belly, encircled by “The Constitution As I Understand It” with “Roman Firmness” above the donkey and “Veto” below. Both examples were purchased raw and sent for authentication, one to NGC and the other to PCGS. One is slabbed MS64, while the other is in a slab marked Genuine Cleaned, UNC Details.
5. In keeping with the night’s theme, Jeff Amelse showed examples of the other 3¢ coin series, the nickel 3¢ coins, with cracks, cuds, and clashes.

Reminders:

• You can email to Melissa a description of what you will show at a meeting, to give her a start on this write-up.
• Send it to mjg513@yahoo.com.
• After a meeting, all members who viewed the meeting should email her their scoring sheet – a listing of each exhibit number followed by a score is all that is needed.

Minutes of the Chicago 2021 ANA Convention Committee

June 17, 2021

The 2021 ANA convention committee met June 17, 2021, by online virtual meeting. Host chairman Elliott Krieter called the meeting to order at 7:07pm with Elliott Krieter, Steve Zitowsky, Carl Wolf, Mark Wieclaw, Paul Hybert, John Riley, John Kent, Marc Charles Ricard. Jack Smith, Lyle Daly, Rich Lipman, and Scott McGowan in attendance.

Elliott opened the meeting with announcements:

1. The Chicago Coin Club stipend was approved by the ANA.
2. Parking Passes will be 100 Daily passes and 10 Weekly passes. Lyle Daly asked how the passed are handled. Scott McGowan indicated that in the past the Volunteer, now Ambassador, Chair kept them and distributed them upon request.

Elliott opened discussion about doing something for the Ambassadors during the convention. Suggestions were coffee, donuts, bottled water, gift card for Starbucks. Carl Wolf indicated that past Ambassadors have not asked for or expected this. Rich Lipman recommended holding extra funds in reserve for unexpected expenses.

Hotel reservations are to be arranged by the individual Host Committee members. Elliott, the Host Committee Chair, has received, and approved, requests for 31 hotel nights. Reimbursements will be made only for requests approved by Elliott. Based on the hotel costs, individuals will be responsible for room taxes.

There will be a Stamp show at the same time as the ANA convention, so the convention center and hotels are expected to be very busy.

Mark Wieclaw asked if the convention center has Valet parking, citing the need for individuals with disabilities. The belief is there is no valet parking at the convention center, so prior planning for transportation needs would need to be arranged by individuals.

Ambassador report by Scott McGowan:

• 22 Ambassadors have submitted forms so far. Committee members should submit forms as soon as possible because we will need sizes for shirts.
• Request for Ambassadors will be sent to Elgin, Hillside, Will County, and Oak Forest Coin Clubs.
• Elliott added that shirts will be sponsored by Kedzie Koins.

Money Talks report by Mark Wieclaw:

• There will be 16 speakers, No Panels. Schedule is Thursday and Friday, August 12-13, starting on the hour 9am-4:45pm.
• Three Speakers are from the Chicago Coin Club.

Page Committee report by John Riley:

• A few page applications have been received.
• There will be a back-up plan for pages, and younger pages will be paired with older pages.
• Adults should not assist pages – let them hustle and work and make as much tips as they can.
• Pages need to be ANA members. ANA has a program, Coins for ‘A’s, in which students can get free ANA membership for good report cards.
• Page application deadline is July 16, 2021.
• If kids are seen freelancing and not as official pages, inform Jennifer with the ANA.

Exhibit Committee report by Marc Charles Ricard:

• No change to details from previous meeting.
• Both Marc Ricard and Paul Hybert will be there all week.

YN Workshop Committee report by Jim Ray:

• No report on this currently.

Additional Committee discussions:

The VIP form from the ANA for banquet reservations, Medal orders, and other signup opportunities was requested to be resent to the committee. The Chicago Coin Club meeting during the show will be on Saturday, August 14, 2021, at Noon in Room 6 with space for 100. The speaker will be Mark Wieclaw.

Mark Wieclaw asked if there will be food services in the exhibition hall. It was not known at this time. Club Table will be staffed by Carl Wolf. Donations of coins or tokens, to be given to kids who stop by the booth, would be appreciated.

Meeting was adjourned at 7:45pm CDT.

Next Meeting is scheduled for July 15, 2021, at 7:00pm. A Webex link to be sent.

Respectfully Submitted,
Scott A. McGowan
Secretary, Chicago Coin Club

Our 1230th 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

http://www.ChicagoCoinClub.org/

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Club Officers

Correspondence

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
Payments to the Club, including membership dues, can be addressed to the Treasurer and mailed to the above address.

Payments

Renewing Members Annual dues are $20 a year ($10 for Junior, under 18). Annual Membership expires December 31 of the year through which paid. Cash, check, or money order are acceptable (USD only please). We do not accept PayPal. Email your questions to Treasurer.ChicagoCoinClub@GMail.com Members can pay the Club electronically with Zelle™ using their Android or Apple smart phone. JP Morgan Chase customers can send payments to the Club via Quick Pay. To see if your Bank or Credit Union is part of the Zelle™ Payments Network, go to https://www.zellepay.com Please read all rules and requirements carefully.

• The Club has registered the Treasurer.ChicagoCoinClub@GMail.com address with Zelle™ to receive payments.
• When you send a payment via Zelle™, we will receive a notification.
• Be sure to fill out the “What’s this for?” field – e.g., “Dues 2020 & 2021”
• Once the transaction completes, the Club will receive your payment typically within minutes, and you will know that the payment was received.
• Be sure to have your Location enabled on your phone for the transaction.

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