Sunday, July 31, 2011

JR Newsletter: 31 July 2011 (47)

From the JRCS:

Great news!  The latest issue of the "John Reich Journal" is in the mail!  Current/paid members of the JRCS should be receiving their copy of the JR Journal during the upcoming week.  If you are reading this and are not a member of the JRCS, perhaps now is a good time to consider joining the John Reich Collectors Society.  Membership is just $25 per year and includes three issues annually of the award-winning "John Reich Journal" mailed to your home.  For a membership application, click this link:  http://www.jrcs.org/membershipapplication.html

------

Sheridan Downey wrote:

My catalogue for the Roger Solomon "Selected Rarities Sale" is at the printers and should be available on my web site Sunday afternoon along with a host of new plates.  Hard copies will be mailed later this week.  The sale closes Wednesday Aug. 17 during the ANA Convention.  Lot preview by mail continues through August 12.  The coins will be at my bourse table during the PNG/ANA Pre-Show and, of course, the ANA Convention, Aug. 13 through 17.  Interested readers are welcome to email me at sdowney3 (at) aol.com or visit my web site, www.sheridanscoins.com.  The sale encompasses early half-dimes through dollars, 1795-1837 and should cause a lot of commotion as the sale date approaches.
All the best,
 Sheridan
------

Brad Higgins wrote:

The below chart was inexplicably omitted from my article in the new issue of "John Reich Journal" and is an important accompaniment. The data were copied from the 1st and second volumes of the Bullion Journal at the National Archives in Philadelphia. All data entry errors are my own.




date
quantity
warrant #
8/14/1801
8160
213
12/1/1801
21906
225
12/26/1801
223
230



1/26/1802
7910
231
12/8/1802
19660
262
12/10/1802
2320
263



8/29/1803
21000
282
9/3/1803
9539
283
9/14/1803
1176
285



4/11/1804
7920
301
4/20/1804
2528
302
5/11/1804
2568
304
5/31/1804
6742
306
6/12/1804
2411
307
6/29/1804
8450
309
7/27/1804
12000
312
8/1/1804
9000
313
8/8/1804
11580
314
8/21/1804
10000
316
8/24/1804
11890
317
9/3/1804
10000
318
9/13/1804
14080
319
9/24/1804
15000
320
9/27/1804
9550
321
11/2/1804
14000
323
11/8/1804
8800
324



2/4/1805
30000
330
2/9/1805
4000
331
2/19/1805
5490
332
2/22/1805
5998
333
3/6/1805
5900
334
4/8/1805
7000
339
4/17/1805
1940
340
4/25/1805
4000
344
4/29/1805
7000
345



6/7/1805
4000
347
8/3/1805
14000
353
8/13/1805
20500
354
8/20/1805
16700
355
10/8/1805
12190
359
10/30/1805
7948
360
11/24/1805
24000
361
11/27/1805
10500
362
12/4/1805
11000
363
12/6/1805
2236
364
12/31/1805
17000
370



1/11/1806
15000
371
1/23/1806
24000
372
2/4/1806
8890
373
2/13/1806
12500
376
2/19/1806
19000
377
2/21/1806
1000
378
2/26/1806
14000
379
3/6/1806
27000
380
3/21/1806
6000
381
3/28/1806
4000
382
3/29/1806
7000
383
4/4/1806
14000
384
4/10/1806
12000
385
4/18/1806
5000
387
4/19/1806
5000
388
4/21/1806
7000
389
4/23/1806
10000
390
4/25/1806
18000
391
4/29/1806
20000
392
5/2/1806
16000
393
5/15/1806
28000
394
5/17/1806
8000
395
6/20/1806
8000
398
6/26/1806
18000
399
6/30/1806
21740
400
7/23/1806
12000
405
7/26/1806
14000
407
7/30/1806
20000
408
8/1/1806
13000
409
8/18/1806
32000
412
8/22/1806
5230
413
8/30/1806
44000
414
9/26/1806
96000
416
10/21/1806
46574
420
10/31/1806
50000
421
11/20/1806
55581
423
11/27/1806
30000
424
12/9/1806
68000
425
12/19/1806
24601
427



3/2/1807
2000
430
3/10/1807
12040
431
3/16/1807
40000
432
3/23/1807
36000
434
3/26/1807
16000
436
4/14/1807
64000
437
5/4/1807
36000
438
5/13/1807
50000
439
5/19/1807
37036
440
6/12/1807
16000
444
6/22/1807
60000
445
6/30/1807
66000
447
7/14/1807
60000
448
7/21/1807
52000
449
8/3/1807
36000
450
8/18/1807
60000
451
9/1/1807
63000
452
9/14/1807
54000
453
10/21/1807
52000
455
10/31/1807
14500
457
11/5/1807
17000
459
11/25/1807
70000
461
12/8/1807
50000
463
12/23/1807
60000
465
12/30/1807
28000
466

































































































































































































































































































































































Sunday, July 24, 2011

JR Newsletter: 24 July 2011 (46)

Rick Beale wrote:

Re: Jim Matthews' analysis of the 1836 proof lettered edge... thanks for the insights ! I gotta tell ya... the phrase "blizzard of great coins" is a vivid metaphor for us drought-stricken Texans !!!! Bring on the blizzard !!! 103 degrees F again today ! heh
 
The closest we get to a blizzard is at Dairy Queen.
 
My very best to all,
 
Ricky B
------
Harry Cabluck wrote:

Great reading, the latest JR Newsletter.

Thanks, again, and again, for publishing.

Oddly, it arrived while attempting to attribute this 1836 $5 gold for a friend.  Perhaps you'd like to see it.

For now, must use only the Breen Encyclopedia.  Alas, sold all the Akers books years ago.

Harry Cabluck
 
 ------
 editor's note:  Click on any photo posted in order to open the photo as a larger image.

Jason Poe wrote:
Just bought a neat coin I'd like to show off, from the recently concluded Heritage Summer FUN auction. It is an 1834 H10C MS64 Prooflike NGC. V-1, LM-2, R.1. This tiny little coin shines with strongly mirrored surfaces, over which the most attractive blue toning has formed. The reverse is far more reflective than the obverse, but both sides definitely qualify for prooflike. This piece is totally original. The prooflike characteristics seem to have been formed by die polish, as evidenced by die polish lines covering both sides. The strike is quite strong, with all stars fully formed.

I am an avid collector of prooflike coins, currently working on assembling a prooflike type set, which can be viewed on the NGC Registry. If any of y'all have any prooflike coins, I would love to see them. I would also like to hear any information you might have on early prooflikes - observations on availability, theories as to how they were made, etc.

Jason Poe

 ------
Paul Hybert wrote:
The latest newsletter listed the JRCS morning meeting on Wednesday at ANA, where the educational session will be "Half Dime Remarriages and Cuds."

But that is not the only early US coinage presentation on that Wednesday.  At 4PM in the Numismatic Theatre, the scheduled talk is "Reverse T: A Workhorse Die of Bust Half Dime Remarriages."  The title seems to say it all, but maybe the speaker can give us a preview?

Paul Hybert
 
editor's note:  Yes, Paul caught on to what I am doing!  I will be hosting the numismatic theater presentation Paul mentioned.  I intend to use the educational session at the JRCS meeting as sort of a warm-up or "teaser" for the more in-depth presentation on half dime remarriages later that same day.  Some quick background:  We know with certainty that quality die steel was in short supply.  We know that this (and other factors) resulted in the early US Mint's extensive use, and overuse, of dies that were considered "serviceable."  The "forensic numismatic research" completed by some remarkable numismatists has shown us all sorts of die marriages, die remarriages, and die deterioration characteristics that make our hobby even more interesting.  It was quite common with the capped bust half dime series for the early dies, especially the reverse dies, to be used, reused, and used again all the way up until the die suffered some catastrophic failure (which we now call a cud).  So it is my intent to show the paths that some reverse dies followed from their first use until their final use as a way of demonstrating the concepts of die marriage and die remarriage, while also highlighting die deterioration that occurred up to and including final uses of dies giving us the cuds many of us cherish today.
------
Jim Matthews wrote:

Thoughts on numismatics. 

I remember back in 1971 a few years into collecting coins that I always saw far more coins I wanted to buy than I had money for. Back in that period of the prehistoric dawn, lunches at school could be had for 35 cents. I knew that my own starvation was not a particular concern of mine, and could often manage to skip lunch and allow myself more spending money to buy coins. At a more rapid pace I was able to fill my album of Lincoln cents and Franklin half dollars with my skipped lunch money. I had the freedom to ride my bike up to the hobby store and come away with new treasures weekly.

Of course, the era of inflation was underway, when candy bars suddenly jumped from a nickel (a commonly used term to denote our mint's and Coin World's "Five Cent Coin" descriptor) to a dime. Fancy that. Indeed, well, this fit hand in glove with my own recognition that the actual silver coins (dimes, quarters and half dollars) of 1964 and prior were disappearing from circulation. Although I was not driving at the time, it was burned in my memory of the 1960s that a gallon of gas could be had for about 25 cents-- a silver quarter--often with heaps of S&H green stamps or Blue Chip Stamps if one didn't mind going to a particular gas station that was giving away multiples of stamps for each cent of gas purchased. Said stamps could be collected, stuck in books and traded for what was believed to be valuable merchandise! Warren Buffett himself took a minority interest in the Blue Chip Stamps company--feeling it was a sure thing into the future. Some things just don't work out as we would like them to.

In time my numismatic interests stretched into the early Federal coins, usually silver as that was what I could afford. The half cents and large cents were so widely collected that I didn't feel I could discover new things in the same way I could with early silver coins. Gold coins of that era were just too expensive, and still are for my collecting ability. Curiously today, I would still forgo lunch if it would help me buy coins, just as today I often simply forget to stop at the ANA show or a similar event, as seeing the opportunity to hunt for the treasures as far more fun than just another over cooked hot dog or bland sandwich.

I note a silver quarter still buys a gallon of gas today--but not the copper-nickel ones we commonly use today, last time I checked I needed about 14 of those "new" quarters to accomplish the same thing as one of those old silver quarters. Fancy that!

Sunday, July 17, 2011

JR Newsletter: 17 July 2011 (45)

Richard Meaney wrote:

The JRCS will auction one set of John Reich Journals, complete from volume one through volume twenty, at the JRCS annual meeting in Chicago.  The set includes an original volume one/issue one...not a photocopy as is typically found nowadays!  The funds from the auction will go to the JRCS treasury.  The JRCS annual meeting will be on Wednesday, August 17th in room six of the Stephens Convention Center from 8:00 to 9:30 AM.. 

I will present the educational session at the JRCS annual meeting.  The topic will be "Half Dime Remarriages and Cuds."  I will have plenty of full-color photographs, including photos of some of the rarer remarriages and cuds in the capped bust half dime series.

------
Jim Matthews wrote:

In the blizzard of great coins that wended their way to Stack's-Bowers for the ANA Auction one piece really caught my eye. From an old consignment there was an 1836 half dollar with a Lettered Edge in Proof-64 (NGC). After 40 straight days of cataloging and still running late, of course the very last week of writing deadlines, and the most intense pressure to get finished is when all the weird animals appear at the campsite and need immediate attention. Well first off, 1836 Lettered Edge half dollars in Proof are certainly not common—although Steve Herrman reports four different die pairings were used to make these proofs. How bizarre is that? There's probably something like 10-15 proofs known and Engraver William Kneass managed to polish up a whole bunch of dies and strike just one or half a dozen at a time. In passing I asked John Pack which variety the 1836 Proof half dollar was. He said it's an O-106. I stood up, went over to my heavily notated Overton book and went OMG--let me see that coin! Of course, as nature would have things, it was certified in a 15 year old NGC holder with no possibility of seeing the edge. At that point a lot of the finer nuances were not noted on the slab inserts. This one said "1836 Proof, Lettered Edge" I knew that the O-106 reverse die was used to coin ALL the Crushed Lettered Edge Proofs of 1833, 1834, 1835 and 1836! So—here's an 1836 O-106 in Proof, it has to be the long missing Crushed Lettered Edge from the Davis-Graves Auction, Stack's , April 8-9, 1954, Lot 533. No other 1836 O-106 Proof half dollars are reported to exist.

You have to understand, the O-106 reverse is the only Capped Bust half dollar die with a sunken lip around the edge engraved by Kneass—all other obverse and reverse dies have long tooth-like dentils that extend to the very edge, on this solitary die, Kneass was bridging the current technology and experimenting with a closed collar, in this case a fixed metal ring in which the planchets would be inserted, then struck, the closed collar would force the metal flow up into the sunken lip on the die to make a solid circular edge to the coin, greatly extending the circulating life of the coin. After striking the coin would be squished into this closed collar and the lower die would rise up slightly, pushing the coin out of the collar and another planchet would be inserted. In the late 1820s Kneass accomplished this same mechanism on the smaller coining press, with raised lips appearing on struck coins of Dimes in 1828, half dimes in 1829, quarters 1831, quarter eagles and half eagles in 1829. The larger coins had to wait.

As a numismatic cataloger, I see a lot of coins. Rarely do I have much of a chance to study these as the looming deadline precludes more than a cursory identification of where any problems are, the strike and surface qualities. But this coin got me going, I had written about the long missing 1836 O-106 half dollar in proof with the Crushed Lettered Edge in the George "Buddy" Byers Collection in 2006. As luck would have it, there is only one recorded appearance of this experimental coin by Kneass, it last knowingly crossed the auction block in 1954. At the time that coin realized $60, an immense sum for a Proof half dollar of that era. The description in the Davis-Graves sale states: "1836 Lettered Edge. Small Stars, the edges are squared and almost obliterate the lettering. Brilliant Proof." Of course this auction was years before the Overton reference came out so no further information was available when the coin was cataloged. Enticingly it was not plated either.

As luck would have it, this all happened on a Friday, a day when we can't ship coins out with  the weekend pending. So it would have to wait until Monday to get back to NGC where Rick Montgomery and David Lange could take it out of their holder and put it in an edgeview holder so edge could be viewed. I was virtually certain this would be the long missing 1836 O-106 Proof with the Crushed Lettered Edge. It had the right dies, exact weak strike of the other Crushed Lettered Edge Proofs of 1833, 34, and 35--and the result had to wait until Tuesday. Finally we talked with Rick Montgomery and after examining the coin they stated it was a normal lettered edge! What--here's yet another bizarre coin animal that makes no sense! Why would Kneass make a specific die to roll out his closed collar and then make a regular LLettered Edge Proof with it? There are all sorts of minute die characteristics noted in the catalog that left for future reference. Under normal circumstances all Capped Bust half dollars had their edges lettered prior to striking, when they were struck their edges were allowed to expand outward between the dies, hence the distended lettering so commonly seen. Employing a closed collar would not allow for any edge lettering device as it would be crushed in a collar when the coin was struck. Only vertical reeding can be imparted by the collar to allow for the coin to be ejected, unless the collar is segmented and can be opened and then closed for striking. The Crushed Lettered Edge proof half dollars were all struck in 1836 using the same reverse die that struck this particular coin. It undoubtedly was the first coin struck with the die, to test new lipped reverse by Kneass, and likely the closed collar was then installed to the old coining press—perhaps even the new steam press, and the Crushed Lettered Edge restrikes (new obverse dies engraved) to coin a handful of 1833, 1834 and 1835 half dollars along with the one missing 1836—struck from these very same dies.

So the mystery 1836 Crushed Lettered Edge coin remains at large, lurking in some advanced collection awaiting discovery.

Sunday, July 10, 2011

JR Newsletter: 10 July 2011 (44)

In response to Pete Smith, Ken Potter wrote:

The Hobby Protection Act does not apply to the seller, but it is illegal to sell copies in Canada.
Good Luck!
Ken
------
Robert Stark wrote:
I'm interested to learn more about 1950's era collector/dealer James Blanchard.
I believe he started the New Orleans bullion firm bearing his name. I'm at rstark (at) udel.edu      
Thanks!               

Bob 
------

Richard Meaney wrote:

I wanted to share with readers some images of a newly-acquired half dime.  It is an example of the 1832 LM-10.4 die marriage.  Clicking on the image will open the image in a much larger size for you. 


Sunday, July 3, 2011

JR Newsletter: 3 July 2011 (43)

Pete Smith wrote:


Attached are images of an item that sold on eBay on June 28, 2011.  It realized $710 Canadian dollars with four bidders and twelve bids.
 
The image quality is poor, but it is an obvious copy to me. There was a question and answer posted before bidding closed.
 
Q:  The 1792 half disme, is it a restrike?
A:  I don't know sorry thank you for interest.
 
The seller has a Canadian address. I suppose this makes him less liable for prosecution under the "Hobby Protection Act" or laws against passing counterfeit U. S. coins. Other lots on his sales were mosly low value coins. There were other low quality images of U. S. coins offered including a couple of other half dimes.
 
Pete Smith
 

 ------
 
Paul Hybert wrote:
2011 Summer ANA, Final Call for Exhibits

Although the ANA's 2011 Anniversary convention is still six weeks
away, completed exhibit applications must be received at ANA
headquarters by July 20; if you were working on an exhibit,
please do not miss this deadline.  Send any questions to
the local exhibits committee at
    ANA2011Exhibits@ChicagoCoinClub.org

Suggestions on forming an exhibit can be found on the main ANA
exhibiting page at

http://www.money.org/Content/NavigationMenu/NumismaticEvents/ConventionExhibits/default.htm
and the http://www.worldsfairofmoney.com/index.php?id=255 page
has links to everything for exhibitors: rules, application,
and more.

Remember, the exhibits must be in place by the early Tuesday morning
opening of the convention, and the exhibits cannot be removed until
very late on Saturday afternoon (when the convention closes).

Collector exhibits will not be the only attraction during
August 16-20, Tuesday through Saturday.  The ANA web site has
a schedule of events, including club meetings, featured speakers,
and other activities.  A link to the schedule is at
    http://www.worldsfairofmoney.com/index.php?id=52

Sunday, June 26, 2011

JR Newsletter: 26 June 2011 (42)

Sheridan Downey wrote:

Our little collecting community lost a great friend this past April with the passing of Roger Solomon. Roger succumbed to a rare form of skin cancer that was diagnosed just a few weeks earlier. He is survived by his lovely wife Jeri, an avid collector of U.S. Commemorative Half-Dollars. Roger was hoping to arrange and participate in the sale of his collection this August, during the ANA’s World’s Fair of Money in Rosemont, IL, not far from his home. Sadly, he was not allowed enough time to share and enjoy the event.

Early this month Jeri Solomon asked me to showcase Roger’s collection during the upcoming ANA Convention. It is with bittersweet pleasure that I have the honor of overseeing the sale of Roger’s remarkable coins to a new generation of numismatic stewards.

You can read more about Roger and his collection here:  http://www.sheridanscoins.com/
This link will take you to an inventory of Roger's collection:  http://www.sheridanscoins.com/solomon_list.html

Sheridan also added the following note: I am on my way to Africa as you read this but will be back to field questions the 3rd of July.  Maybe before - if I find a wi-fi hotspot in the Serengeti!

------

Alan V. Weinberg wrote:

A brief review of the Whitman Baltimore show  relating to John Reich coins and medals:
An unlisted 1824 bust quarter with a silversmith counterstamp on obverse of W. GIBNEY (raised letters)  in a thin recessed cartouche was discovered and changed hands to a serious Bust quarter collector on the bourse floor.
Joe Levine of Presidential Coins and Medals (PCAC) auctioned on Sat night at the Balto show an unlisted 1805 bust  quarter with prominent serrated border cartouche on obv bearing the raised letter silversmith counterstamp JUSTICE (Joseph J. Justice Phila 1844-48), ex Arlie Slabaugh 2001 PCAC sale in 2001 where it then  brought $391. June's hammer price was $1,100, even though it was estimated at $400-600.
Pook and Pook antique auction house in Downington Pa auctioned on June 16th Thursday a large group of US coins and a  U.S. Mint-struck medal Julian  CM 5,  Betts 617,  Baker 58 1783 Treaty of Peace Geo Wash / Benj Franklin conjoined busts / 1783 descending American Eagle over hemispheric globe medal, a silver proof in the original round engraved pillbox case engraved Medallic History of the American Revolution. Part of the Sansom series of medals struck in 1805 and engraved by John Reich. Estimated at $8,000- $10,000 so the auction house knew what they had. Several years previously Pook and Pook  auctioned a silver proof 1797 Geo Wash Presidency Relinquished Reich-engraved  silver original in an identical Amer Revol silver pill box, both lots consigned to P & P by the same old family.
The medal was auctioned precisely at 2:15 PM during opening day of  the Baltimore coin show and this writer bid on his cell phone from the Balto bourse floor , capturing it at an ultra-reasonable $18,000 plus buyer's fee of 18.5%. Ironically the 2 immediate underbidders, collector Syd Martin and dealer Ron Karp, were also Balto bourse floor cell phone bidders,  followed by dealer Joe Levine at mail bid of $13,000. So all the top action on the medal came from the Baltimore bourse floor. Had the medal been auctioned by a prominent coin auction house at a time not conflicting with Balto bourse opening day, it would likely have surpassed $30,000 hammer.
This writer also viewed briefly on the bourse floor  an old time Whitman blue folder album for bust dimes with approx a dozen well-worn unattributed and toned bust dimes inserted in the holes.

One more observation:
I tried to buy a copy of Rory Rea's  Early Quarter Dollars of the U.S. Mint book for a friend on Sat at noon at the Balto show and could not. Rich Uhrich, prominent dealer,  was apparently the only one who had any for sale there and had brought a full case (guessing, 25 books). He sold out by Sat noon but for one single remaining unwrapped, damaged edge copy which I rejected. All the others sold out. So, apparently, this book is moving rapidly (at a firm non-discounted $100)  even though this show was much smaller and moderately attended compared to the other two Whitman Balto shows.
Alan V. Weinberg
------

Robert Stark wrote:
Bob Hammond’s comments on attendance at last week’s Baltimore Show are about the same as mine for the first half of last Thursday afternoon. However, the auction viewing room was filled from the get go; hardly an empty seat. The table end where I was seated was pressed into service—and who should pop down but Brad Karoleff! I put that useful surprise to work as we had a good chat.
       My interest is the Early Dollars! The ’95 B-12, #4004, shows a clashed die much as my coin. The ’95 B-14 NGC 58, #4009, had less hair detail than I expected for a 58 coin.
The ’99 B-9 PCGS 53, #4037, showed a dark spot at Liberty’s throat. Next visit to the bank vault  I check my two B-9s, They seem to have a light spot in Liberty’s throat. So, perhaps the variety has a small pocket at Liberty’s throat.
       Lacking a ’00 B-10, the NGC 58, #4036, was of especial interest. Again, I thought that hair lines ought be bolder on a 58 coin. An ’01 B-3 PCGS 55, #4043, is a very nice coin—even a bit nicer, I thought, than the ’02 B-6 NGC 55 (#4046) with a CAC sticker.
       I returned to the bourse floor pondering a bid the ’00 B-3. It had a high reserve that also gave pause. At Harry Laibstain’s table I saw a lovely’03 B-4 PCGS 55 CAC. It became my acquisition of the afternoon. The next day I learned that the ’00 B-10 had  received no bids and, again, was offered for a bid over the reserve.  

Bob Stark