Miami Valley Coin Club

The 1895 Morgan Dollar – The King of Morgan’s

The 1895 Morgan Silver Dollar is known as the “King of the Morgan Dollars” because it is the rarest and most valuable of the entire Morgan Dollar series. PF-68 specimens of this rare coin have sold for upwards of $120,000 at auction and today it is estimated that it would sell for well over $200,000.

According to U.S. Mint records, there were 12,000 regular circulation Morgan Silver Dollars struck for 1895, and 880 Proof specimens struck. However, only 75 to 80 of the 1895 Morgan’s have been accounted for, all of them Proofs. Where did 12,000 plus coins go?

Scholars are divided in their opinions as to why the 12,000 business strike specimens of the 1895 Morgan Silver Dollar have vanished into history. Most believe that the coins were never minted in the first place, and that this notation in the Mint accounting ledgers is in error. Many experts believe that the coins were minted, but melted down for various unknown reasons.

2000: The Year of The $1.25 Mule

A mule is the offspring of a donkey and a horse. The term “mule” in numismatics is usually used to describe the mating of two different denominations on a single coin.

In the year 2000, the die for the obverse of a statehood Washington quarter was “mated” to the reverse of a Sacagawea dollar die. The result was a short run of $1.25 mule coins. At the time of their discovery these mules were selling for tens of thousands of dollars.

After an intense investigation, the Secret Service charged two former employees of the Philadelphia Mint with selling these coins to dealers and collectors. One dealer managed to purchase 7 of the 10 coins that were known of at that time, paying a whopping $600,000 for them.

To date, 15 of these mule coins are known and have been certified. A single collector owns 11 of them. The highest, publicly known price that he paid for a single coin was $117,500 at a Stacks Bowers auction in August of 2014.

March 2017 Meeting & Coin Show

We had great attendance at both our monthly meeting. Members displayed some of their recent acquisitions which included a GSA Morgan Dollar in NGC MS-63 grade and an Australian polymer $5 note.

Our coin show had more than 40 tables to view coins. These tables were set up by hobbyists as well as dealers from around the Miami Valley and beyond. There were coins of all grades and price ranges. If you were looking for it, it was there!

2017 Coin Show March 5

In less than one week, the Dayton Kettering Coin Club holds it’s annual coin show.

You don’t want to miss it!

“Wooden” You Know It?

Orville wasn’t exactly the spitting image of a 1920’s gangster. He didn’t own a gun, he didn’t tote around a violin case, and he didn’t wear a pinstriped double-breasted suit. He rarely left his house except to put in his eight hours at work, five days a week. He was happily married and had two children.

What he did have was a limp. A hunting accident when he was young cost him his leg. Ever since he was thirteen he had worn a wooden leg.

He made $4.00 a day along with a $20.00 monthly bonus. Although he had an engineering degree from the Colorado School of Mines, he was a longtime valued and trusted employee at the Denver Mint.

Denver Mint 1920’s

Over a five-month period he managed to steal fifty-three gold bars. He carried them out of the Mint in his hollowed out wooden leg. Adjusted for inflation that would be equivalent to more than $828 million.

He was stopped at the end of his shift one night and confronted about the missing gold. Orville admitted his guilt, saying that he buried the bars in his backyard garden. He was sentenced to ten years in prison. And so the first great Denver Mint robbery was solved.

When Orville’s house was torn down thirty years later so a new highway could be built, many people did a whole lot of metal detecting in his backyard, hoping to find a missed golden bar. None were found!

Identity Unknown?

Collecting Suzie B’s Could Be Golden

There’s good news and bad news about building a collection of Susan B. Anthony dollars. The good news is that there are no rarities. Also it is relatively inexpensive to build a complete set.

The bad news is the series is short, and except for the Wide Rim (Near Date) 1979-P, there are no significant varieties.

But what about that Wide Rim 1979-P?

Did you know that the Wide Rim was a planned coin, not a true variety? After receiving numerous complaints about the dollar coin being easily mistaken for a quarter, the Mint thought that by making the rim wider, it would make the coin more distinguishable from the quarter.

Yeah, that really worked, didn’t it?

P.S.

In 1999, some Anthony dollars were struck on Sacagawea “golden” planchets. Only about a dozen are known to exist. They are valued between $12,000 and $15,000. Makes you want to double-check all those golden Sacagawea dollars you come across, doesn’t it?

February 2017 Meeting

The highlight of our February meeting was a presentation by Bill William. He attended this year’s Florida United Numismatics (FUN) Show in Ft. Lauderdale, Florida. Bill shared a slide show of his journey through the bourse floor and the many hours it took due to the show’s number of dealers and exhibits. He recommended that everyone should attend at least one of these major coin shows.

We also held a members auction. There were many, many coins for sale and several people added a number of wonderful coins to their collections. These meetings and auctions are always open to the public and we encourage anyone interested in coins and collecting to join us.

Our next meeting will be held March 2, 2017 at 7:00pm at St. Mark’s Church located at 456 Woodman Dr. Dayton, Ohio. We look forward to seeing you there.

U.S. Mint Surprise

Due to the 225^th anniversary of the U.S. Mint, the 2017 Lincoln Cent will have a “P” mint mark. This will be a one-year only type and it was kept a secret by the mint. The 2017-cent will be struck for circulation quality and Uncirculated finish versions.

Never before in U.S. history has a cent carried the “P” mintmark. The only other times the Philadelphia mint issued a mint mark was in 1942 – 1945 when it was placed on the war-time silver Jefferson nickels and in 1979 on the Susan B. Anthony dollars. In 1980 the mintmark was extended to all circulating from Philadelphia except the cent.

The coins were released to Federal Reserve Banks in early January. On a recent trip to my local bank, no 2017 cents had arrived yet. So be on the lookout, they may not be rare but the cents will be a one-year type.

2017 Lions Clubs Centennial Silver Dollars Launch

by DARRIN LEE UNSER on JANUARY 18, 2017

from CoinNews.net

Coins commemorating 100 years of the world’s largest service club organization, Lions Clubs International, are now available from the United States Mint.

The Lions Clubs International Century of Service Commemorative Coin Program was authorized under Public Law 112-181, enacted on Oct. 5, 2012, to celebrate the centennial of the establishment of Lions Clubs International.

2017 Lions Club Centennial Silver Dollars in collectible proof and uncirculated finishes and at introductory, discounted prices launched today at noon Eastern Time. Each one sold will benefit the Lions Club International Foundation.

LCI (www.LionsClubs.org) was founded in 1917 by Melvin Jones. Today, the organization has a memberships of over 1.4 million and operates from 46,000-plus clubs throughout the world. Humanitarian projects served by the organization include SightFirst, disability and youth programs.

Silver Dollar Designs

For the silver dollar’s obverse or heads side design, 14 candidates competed against each other. Each of them depicted Lions Club Founder Melvin Jones in varying perspectives. The winning design, created by Joel Iskowitz and sculpted by Joseph Menna, shows Jones along with the club’s logo.

2017-P Proof Lions Clubs Commemorative Silver Dollar – Obverse (heads side). Obverse inscriptions read LIBERTY, IN GOD WE TRUST, 2017 and MELVIN JONES FOUNDER. The artist’s and sculptor’s initials are also shown.

 Twenty-one different candidates were presented as possible options for the coin’s reverse or tails side. The selected design depicts a male and female lion with a lion cub superimposed over a globe. Patricia Lucas-Morris created the artwork and Don Everhart sculpted it.

2017-P Proof Lions Clubs Commemorative Silver Dollar – Reverse (tails side). Reverse inscriptions include $1, E PLURIBUS UNUM, UNITED STATES OF AMERICA, CELEBRATING 100 YEARS OF SERVICE, and the artist’s and sculptor’s initials.

 Both coins are produced at the U.S. Mint facility in Philadelphia to a composition of 90% silver and 10% copper, with each having a reeded edge, a diameter of 1.500 inches, and weight of 26.730 grams.

Introductory and Regular Prices

Introductory coin prices of $46.95 for the uncirculated and $47.95 for the proof are available until Feb. 15 when regular pricing begins at $51.95 and $52.95.

The $1 Dollar Bill and The Number 13

There are:

13 different representations of the number 13 on the bill

13 stars above the eagle

13 steps on the pyramid

13 vertical bars on the shield

13 horizontal stripes on the top of the shield

13 leaves and 13 berries on the olive branch in one of the eagle’s talons

13 arrows in the other eagle talon

13 characters in “1776” and its Roman Numeral equivalent “MDCCLXXVI”

13 letters in “ANNUIT COEPTIS”

13 letters in “E PLURIBUS UNUM”

13 segments to the worm-looking things that come off the sides of either circle on the back of the bill.

And 13 stars above the key on the Department of Treasury seal on the front of the bill.

2017 Dayton-Kettering Coin Show

Weird Money Facts

1. The Bureau of Engraving and Printing uses 9.7 tons of ink each day. It has two active facilities from which it prints money today.

2. Gambling generates more revenue each year than movies, spectator sports, theme parks, cruise ships and recorded music combined. Gambling is a $34.6 billion per year industry.

3. 94% of all bills are contaminated with bacteria. Although only about 7% of these germs may be hazardous to your health, they do include pathogens that can cause pneumonia, staph infections, and the flu. (The flu virus can survive on a dollar bill for more than 10 days.)

4. It takes, on average, 8000 folds before a bill will tear. A $1 bill has a life expectancy of 5.9 years while a $100 bill has a life expectancy of up to 15 years.

5. There is more Monopoly money printed every year than actual cash. The game prints about $50 billion of its currency each year.

6. Only 8% of the world’s currency is actual physical money. The rest is digital money that exists only on computers.

Great Coin Stories: The Communist Dime

The communists have infiltrated U.S. Mint! That’s what much of the country thought when the Mint first introduced the Roosevelt dime in 1946. Although the coin clearly honored President Roosevelt, many citizens also felt that it secretly paid tribute to communist leader Joseph Stalin.

Roosevelt had just begun serving his 4th term as President when he died in Warm Springs, Georgia in 1945. He had served as President through most of the Great Depression and World War II. Many younger Americans had known no other President.

It was no surprise when the decision was made to honor President Roosevelt on a coin. That the dime was chosen was also no surprise as President Roosevelt had been a victim of polio and was a founder of the March of Dimes.

So what made the public think that a coin honoring President Roosevelt was really a secret tribute to communist leader Joseph Stalin? When released on what would have been Roosevelt’s 64th birthday, people quickly noticed a set of initials on the obverse of the new coin just below Roosevelt’s portrait. The initials were “JS.”

The rumor spread that the initials stood for Joseph Stalin and that communists had infiltrated our government. The U.S. Mint took this rumor seriously enough and responded by informing the public that the initials were in fact those of the coin’s designer, John Sinnock, and not those of communist dictator Joseph Stalin.

Christmas Celebration

On December 1st the Dayton-Kettering Coin Club enjoyed our annual Christmas dinner. This year we met at O’Charley’s near the Dayton Mall. A good time was had by all who attended. After a great meal and lots of conversation, door prizes were awarded. We look forward to a new year with exciting coin discoveries and collecting opportunities.

Great Coin Stories: The Story Makes The Coin

The 1792 half disme (pronounced as “deem”) is widely considered to be the first U.S. coin struck under the authority of the Mint Act of 1792. President George Washington referred to the half disme as “a small beginning”. And small it was indeed: diameter 17.5 millimeters, weight 1.35 grams.

Folklore suggests that the obverse portrait is that of Martha Washington. The same folklore claims that the silver used to strike the first half dismes came from Mrs. Washington’s personal silverware. There is, however, no supporting evidence of the silver’s true origin nor of use of a likeness of Martha.

It is believed that between 1,500 and 2,500 specimens were struck by the Mint. Of that number, it is believed that about 10% survive today. A specimen strike from the Starr collection, graded MS67 by PCGS sold for $1,322,500 on April 26, 2006. The highest numerically graded piece, an NGC MS68, sold for $1,500,000 by private treaty transaction in 2007.

November Meeting Recap

At this month’s meeting we reviewed the overall state of the collectibles market. It was felt that the market is becoming saturated due to lack of interest by our younger generations who don’t share the passion of collecting. We need to seek new ways to re-energize our children and grandchildren. A committee was formed to investigate possibilities to do this.

Members shared several different coins with the club members, including a type set of Lincoln cents (always a popular starting point with younger children),

a mint state 20-Cent piece, and several U.S. Mint medals.

Our member auction was larger than usual and several members added coins to their collections at fabulous prices.

Next month we will be having our annual Christmas dinner, to be held at O’Charley’s on Route 725 (Miamisburg-Centerville Rd.) near the Dayton Mall at 6:00pm. Come, bring a guest, and help celebrate the end of another great coin collecting year!

November 2016 Club Meeting

This Month’s Meeting Will Be Thursday November 3rd 7:00PM

Highlight: Member’s Coin Auction

Guests Welcome To Attend & Participate

Lost: $61.8 Million In Coins Each Year

According to a recent report from Bloomberg, we lose $61.8 million worth of coins each year. Coins get sucked into vacuums, lost in the grass, fall out of pockets while fumbling for car keys, or are sometimes purposely thrown away because they are dirty or just stuck together.

There is a company just outside of Philadelphia, Covanta Holding Corp., that operates an incinerator that burns garbage to generate electricity. Last year the company recovered about $360,000 in nickels, dimes, and quarters. The company uses powerful magnets to collect scrap metal after burning trash and have developed a technique to separate the change from other burnt metal.

The coins are sooty when collected and in the past have been sold back to the U.S. Mint. I’m not saying we should all head for the nearest landfill but then again…

October 2016 Meeting Highlights

At this month’s meeting, we took an in depth look at the 1840-O Liberty Seated Quarter. Variations in mintmark sizes and locations were pointed out and examples were on site for club members to view.

1840-O With Drapery, Large O Mintmark

Also members brought in examples of the new gold Standing Liberty Quarter just released by the U.S. Mint. The gold SLQ commemorates the 1916 design by Hermon MacNeil. MacNeil submitted a militaristic design that showed Liberty on guard against attacks, a design influenced by WWI which was going on in Europe at that time.

Our upcoming November 3rd meeting will include an auction of coins from our member’s collections. It’s a great opportunity for collectors to add to their collections! All of our club’s meetings are open to guests. If coin collecting is in your blood, come join us. Yearly memberships are only $8