Sunday, June 14, 2015

JR Newsletter: 14 June 2015 (245)



We have two contributions this week, with the first from Winston Zack:

Dear JR Newsletter readers,

Our great friend Kirk Gorman, noted researcher, author, dedicated contributor to the JRCS, and all around wonderful guy is not well. He was recently diagnosed with a brain tumor. The most recent information from his oncologist is that it is no longer operable, although alternative treatments are being investigated. Rory Rea has been a wonderful friend helping out and looking after Kirk at this time.

In better news, we are happy to announce that Kirk's girlfriend Sophie gave birth to their first child this morning. Henry David Gorman was born early in the morning on June 14, weighing 7 lbs 1 oz, and 19 inches long.

At this point in time, Kirk is spending a lot of time with his family and is very thankful to have the love and support from his numismatic friends.

If you would like to send any "get well" or "congratulations on the birth of your son" messages or cards to Kirk and Sophie please feel free to contact me at my email address: stoneman101(at)gmail.com

Regards,
Winston
------

Alan V. Weinberg wrote about a recently closed eBay auction:

Go to eBay and check item 331568951596, a 1787 contemporary counterfeit half dollar at $1525.

Link to closed eBay auction:  LINK to eBay

Variety 4A (1 previously known), noticeable obverse horizontal die crack; the other in Mark Glazer's collection. This eBay item likely won by "an East Coast dealer" (name omitted by editor).  I was 3rd underbidder. Few people knew about it due to its obscure categorization. Mark Glazer only knew about it as I checked with him days before it sold to guesstimate its value. We both assumed $1500+ would buy it but I lowered my sniper bid to $800+ out of concern over the black residue.

You can read it was found in an old estate house and was sold by a non-numismatist who evidently checked out its value before listing it at $599.

The seller told me that the black encrustation was hard tar-like. Likely the copper leaching to the surface of the German Silver planchet and corroding. Problematic it can be dissolved in acetone.  The so-called test cut is more likely a planchet split as German Silver is a hard brittle metal. One of the other pictured 1787s also has a similar edge split.

Alan


Sunday, June 7, 2015

JR Newsletter: 7 June 2015 (244)

The sole contribution this week is an original work from David Finkelstein:  "The Workflow of the First United States Mint, Part 2."

 The link to the document is here:  http://pdfsr.com/pdf/djf-mint-workflow-part-2.pdf

Sunday, May 31, 2015

JR Newsletter: 31 May 2015 (243)



This week's JR Newsletter starts with a response to Winston Zack's inquiry from last week.

Dick Johnson wrote:

In answer to Winston's inquiry about sinking a design into a die and the kind of press used to do this.

Surprise! The press used to sink a device into a die is the same as one which could be used for striking coins.

The answer is the screw press. A very brief background of the screw press.. The first such press was developed 1st century BC to press grapes into wine. In 1506 an Italian engineer developed a screw press to blank lead sheets to make seals for the pope.

In the mid 1500s screw presses were in use in European mints. In 1652 John Hull obtains a screw press to strike his Pine Tree shillings in America. A collar and ejection mechanism is added to the screw press at the Bologna Mint by Francesco Camrlli in 1786.

Matthew Boulton, father of the private mint, and his partner James Watt add Watt's steam engine to their screw press enabling them to strike coins in quantity (instead of hand feeding).

In 1792 David Rittenhouse obtains a screw press for the Philadelphia Mint, and Adam Eckfelt builds additional screw presses biased on that first one. In 1851 the London Mint adapts a screw press just for their hubbing needs. In America the Philadelphia Mint acquires a screw press specially for hubbing in 1892.

Screw presses can be found in machine shops today for use in moderate pressing work.

I mentioned hubbing. The ancients knew of hubbing for use of copying dies as early as circa 530 BC. Because iron can be treated (by heating and rapid cooling) it can be hardened or softened at will. A hub would be hardened and pressed into a soften die blank by use of a screw press.

Now what the engravers did at the Philadelphia Mint was to engrave the device image only in the correct size. Some engravers like to work in the positive, having the image in front of the constantly, or carve the image negative. Hubbing changes polarity. You need a positive hub to make a negative die.

The device only was in this hub. All lettering, stars and dentiles forming the border were added individually by punches. Tap a punch (of hardened steel) into a soft iron die blank and it forms the image at the end of the punch.

This diesinking is tricky work as the position of the punch is critical. It must be in line (same base line) with other letters;. the distance from the proceeding letter is critical, as well as the rotation of the punch. Finally how hard the punch is tapped results how deep it sinks into the die (to become a raised letter when struck). This depth must be uniform for all lettering.

This method continued throughout the 19th century, at the Philadelphia Mint even though it had a die-engraving pantograph (the Contimin) in 1836, replaced by the Hill reducer in 1857. They obtained models from sculptors, made patterns from these first in iron, later in copper. The Mint  used these machines for the device image only, preferring to add everything else by punches.

It was not until 1920 and de Francisci's Peace Dollar, did the Mint cut the entire image --  device and all --  on their Janvier pantograph. Victor Janvier developed his machine in France beginning in 1892 and pattend in 1999. Medallic Art Company imported the first Janvier to America in 1902 and sold one to the Philadelphia Mint in 1905.

Were it not for the Janvier die-engraving pantograph we might still be engraving dies by hand.

Winston  can find pictures of screw presses on Google as well as Janvier pantographs.

Dick Johnson
Author, Editor, Senior Consultant
Cofounder - Signature Art Medals
Corporate Historian - Medallic Art Company
------

And speaking of Winston Zack…

Winston wrote:

Congrats Bob Feldman on being the first reported person to reach 123/123 known capped bust dime die marriages. I'm sure there will be many more congrats coming your way. Certainly your accomplishment underscores the difficulty to reach such a goal. On average you added 2.5 new die marriages every month!

We all look forward to seeing you upgrading your set in the future. Not to mention, at the rate you acquired your capped bust set, you should be able to acquire all 30 draped bust dime die marriages by this time next year! And if you can do that primarily from eBay that will be all that more impressive!

Best,
Winston
------

David Quint also wrote with his congratulations for Bob Feldman and other comments:

An excellent JR Newsletter last week IMHO. The Finkelstein article on early mint operations is excellent, I can't wait for the future installments. The best thing I have on early mint operations is the Taxay book on the US Mint and Coinage, which is quite detailed but hasn't been update for 50 years. The book does go into some detail as to how working dies were punched by "gravers" which Winston Zack will find helpful in answering his questions (the letters and stars were punched by hand, not machine).

I am blown away that Bob Feldman has built a complete set of capped bust dimes (including the R-8 1827 JR-14), and that he did it in only 4 years. In the last dime census, we had 8 collections of 122 coins, and there has never been a set of all 123 (Bob's capped dime collection was not even included in the last census due to a communications issue). This is really quite a feat and an event in the world of capped bust dimes. Congratulations to Bob!

I've attached a recent study I did of the 1798 JR-4 obverse die states. This variety exhibits a spectacular series of prominent die cracks that traverse much of the right obverse field (the JR-4 was the only use of this obverse die). I found all of the pics on the Heritage site.

David Quint

Editor:  David's study of 1798 JR-4 obverse die states is linked here:  http://www.docstoc.com/docs/173893104/1798%20JR-4%20Obverse%20Die%20State%20Progression.pdf
------

Finally, Peter Mosiondz, Jr. wrote with some book offerings:

The Early Coins of America, Sylvester Crosby. 1983 Quarterman reprint. HB. DJ protected in Brodart Mylar®. New. $25.00

United States Copper Cents 1816-1857, Howard R. Newcomb. 284 pp. 11 plates. HB. DJ protected in Mylar®. New. $25.00

Illegal Tender: Gold, Greed and the Mystery of the Lost 1933 Double Eagle, David Tripp. SB. New. $15.00

Million Dollar Nickels: Mysteries of the Illicit 1913 Liberty Head Nickels Revealed, Paul Montgomery, Mark Borckardt and Ray Knight. HB. DJ protected in Mylar®. New. $20.00

Add $3.00 Media Mail Postage         

Peter Mosiondz, Jr.     JRCS #867
26 Cameron Circle
Laurel Springs, NJ 08021-4861
856-627-6865
choochoopete(at)comcast.net      

Sunday, May 24, 2015

JR Newsletter: 24 May 2015 (242)

We have three contributions this week, including a new article from David Finkelstein.  First, something from Winston Zack.

Winston wrote:

Thank you, James Higby, for your response on an earlier reference to the term 'Office Boy'. In general, it seems to be a reference to numerous blunders on dies, but not necessarily to an actual 'Mint apprentice'. If anyone has a reference to a possible 'Mint apprentice' in 1794 (for Large Cents), and in 1820 (for Bust Dimes), I would like to know that information as well.

This brings me to a second question about the early U.S. mint and its technology (~1792-1837):

Do we know how devices were impressed into dies (excuse my terminology if it is inaccurate)? Specifically, was there a device/machine which applied the pressure necessary to press the design detail (i.e. star, number, etc.) into dies? If there was such a machine, do we know what it looked like/what it probably looked like? And if so, can you provide an image of such the machine?

Thank you very much in advance...

-Winston
------

Bob Feldman wrote:

I just wanted to let everyone know I have just completed my 123 Capped Bust Dime variety set!  I will be submitting my set for the next dime census.  The set will be around fine 12 or 15 grade average.  I bought coin 1 on March 2, 2011 on Ebay.  I bought coin 123 on 5-14-2015 from a fellow JRCS member.  So this set took me four years 2 1/2 months to assemble.  Every dime in my set now I found on Ebay except the last coin to finish my set I bought from a fellow member, the 1829 curl base 2 dime, or JR10.  Coin 123, PCGS G4.
------

Finally, David Finkelstein wrote and contributed an original work, "The Workflow Of The First United States Mint – Part 1." David's article is here:  https://docs.google.com/document/d/1BTAPXlBYifaBQvOflIAtB564XXi-RtxnJYv_DBl_LaY/edit?usp=sharing

Sunday, May 17, 2015

JR Newsletter: 17 May 2015 (241)



We start this week with a response to Winston's Zack's inquiry about the "office boy" reverse.
James Higby wrote:

Winston Zack:  Back in 1949 William Sheldon, in his Early American Cents,  used the term "office boy" to refer to reverse Z of a 1794 large cent, S-56.  The reverse features multiple blunders and anomalies.  I cannot confirm that his was the first use of the term, however.

James Higby
------

Brad Karoleff wrote:

Everyone should have received their latest issue of The John Reich Journal by now.  If your has not arrived please notify me via email at bkaroleff(at)yahoo.com and I will send a replacement as soon as possible.

We are also still looking for submissions for the pre-ANA issue of the journal.  We plan on publishing in early July if all goes well.  If you are working on an article I would love to have it by June 15th. We still need a couple submissions to fill out the issue so please consider sending something to me soon.

Brad
------

Ron Guth wrote:

JR Newsletter readers might be interested to know that we have been working on Condition Census listings for all of the pre-1838 early American coins, all denominations on the PCGS CoinFacts website.  We've integrated most, if not all, of coins that we have graded so far from the Pogue, Link, Friend, Missouri Cabinet, Miller, and the many other collections we've graded in recent years.  This is a beginning and a work-in-progress, so the results will be spotty, but in many instances the results are pretty significant as a tool for collectors.  Whenever possible, auction appearances have been matched or re-united, grades have been updated, and images have been added from our True-View database.  I'm having a great time working on this project.  There are some great coins out there, and because of PCGS's position in the industry, we see a lot of them.

PCGS CoinFacts is available on a subscription basis of $14.99 per month, and we offer a free 10-day trial at https://www.pcgs.com/store/join.aspx

I invite JR Newsletter readers to try it out and let me know what they think.  We're always looking for constructive input.

Thanks and best wishes,

Ron Guth
President
PCGS CoinFacts - the Internet Encyclopedia of U.S. Coins
www.PCGSCoinFacts.com
------

From Peter Mosiondz, Jr:

United States Early Half Dollar Die Varieties 1794-1836 (5th edition Overton - 2014), Don L. Parsley. This new edition is printed on a white-coated paper that will increase the ability to see detail on the coins. In addition, photographs are included for many of the listed die states as well. Rarities are included for every die marriage. The rarity ratings are revised from the fourth edition to reflect new values based upon knowledge gleaned from the past nine years since publication of the fourth edition. Also, the condition census is updated in this new edition. 701 pp. HB. DJ protected in Brodart Mylar®. New. One copy for sale at $55.00 postpaid.

Peter Mosiondz, Jr.
26 Cameron Circle
Laurel Springs, NJ 08021-4861
Phone: 856-627-6865
Email: choochoopete(at)comcast.net
JRCS 867




Sunday, May 10, 2015

JR Newsletter: 10 May 2015 (240)

A final reminder for collectors of half dimes starts us off this week:

Please email your complete inventory listing (including all duplicates and die states) of all your 1792 Half Disme, Draped Bust, Flowing Hair and Capped Bust half dimes to Stephen Crain at: mrhalfdime(at)aol.com

Or mail hard copies to:

Stephen A. Crain
P. O. Box 1680
Windham, ME 04062

Please include all of your cud examples, as well, as we are responding to collector demand to include this information.

Please respond by
May 15, 2015 to ensure inclusion of your collection in this census. This is a hard cut-off date – no exceptions, since the completed census must appear in the pre-ANA John Reich Journal.
Thank you,
Steve
------
John Okerson wrote that he is near completion of his set of JR Journals, but needs some help:
Trying to complete my collection of John Reich Journal issues – I need Volume 4 #3, Volume 5 #3 and Volume 17 #1.
------
David Finkelstein provided the following original article, "David Ott's Account of Gold -- Part 3"
 
David Ott’s Account of Gold – Part 3
By David Finkelstein


The officers that were fiscally and legally responsible for the precious metals and coins within the Mint were the Treasurer of the Mint, the Assayer, the Melter & Refiner and the Chief Coiner.  Since bullion and coins were transferred from the custody of one of these officers to the custody of another of these officers, each of these officers was required to post a surety bond and be bound to the United States of America.  The Director of the Mint, who was the chief executive officer of the Mint, was not required to post a surety bond, as he never took custody of any bullion or coins.

The Workflow While David Ott Was Employed

David Ott was the Mint’s first Melter & Refiner Pro Tem.  He was never nominated by President Washington for the position of Melter & Refiner.  In addition, I have been unable to locate any document or reference indicating that he posted his surety bond.  It is logical to conclude this because no entries were ever made in the Waste Book or Bullion Journal during his tenure that identified him as an officer in a bullion transfer.  Instead, the entries identified that the bullion deposits that he melted and refined were done so while the bullion was in the custody of the Chief Coiner.

Per the Bullion Journal, the first four gold deposits were transferred from the custody of the Treasurer of the Mint to the custody of the Chief Coiner on July 21, 1795.  See Figure 1.  According to David Ott’s Account of Gold, he received the gold bullion from the first four gold bullion deposits on July 21st and July 22nd.  See Figure 2.  He then provided one ingot to the Chief Coiner on July 21st for an experiment, and the remaining 6 ingots to the Chief Coiner on July 23rd (refer to my article titled David Ott’s Account of Gold – Part 1).  See Figure 3.

David Ott wrote in his ledger that the gold bullion was “Received from the Treasury”.  See Figure 2.  Although the bullion may have been physically moved from the Treasurer of the Mint’s vault (that was shared with the Assayer) to the Chief Coiner’s vault (that was shared with the Melter & Refiner), the bullion was legally transferred from the custody of the Treasurer of the Mint to the custody of the Chief Coiner, then provided to the Melter & Refiner Pro Tem by the Chief Coiner.

The Workflow After David Ott Resigned

Per page 23 of “Orders and directions for conducting the Mint of the United States, established by Elias Boudinot, director of said mint. November 2, 1795” the Melter & Refiner:

Is to receive all bullion after it is assayed, with a copy of the assayer’s report, from the Treasurer of the Mint, and cause the same without delay, to be melted and refined according to the standard of the United States, and cast into bars in the order in which it is delivered to him unless otherwise specifically directed.  As soon as this duty is executed he is to return the same to the Treasurer, to remain ready for coinage.

While David Ott was employed as Melter & Refiner Pro Tem, the workflow was adjusted and did not match the Melter & Refiner section of Elias Boudinot’s publication.  David Ott resigned in early November, 1796.  Joseph Cloud was immediately hired as Melter & Refiner Pro Tem and did post his surety bond.  The Mint’s workflow was adjusted again, this time matching the Melter & Refiner section of Elias Boudinot’s publication.  On November 9, 1796, Melter & Refiner warrant 1 was issued to transfer gold bullion deposits 55, 56 and 57 from the custody of the Treasurer of the Mint to the custody of the Melter & Refiner Pro Tem.  See Figure 4.

Joseph Cloud was nominated as the first Melter & Refiner of the Mint by President Washington on December 30, 1796.  His nomination was approved by the Senate on January 2, 1797.  Joseph Cloud served as Melter & Refiner until January 11, 1836.

To be continued…





Figure 1 – Bullion Journal Entries Dated 21-Jul-1795
Gold Deposits Transferred From the Treasurer of the Mint
to the Chief Coiner





Figure 2 – David Ott’s Entries For Gold Received on
21-Jul-1795 and 22-Jul-1795






Figure 3 – David Ott’s Entries For Gold Ingots Delivered on
21-Jul-1795 and 23-Jul-1795







Figure 4 – Bullion Journal Entry Dated 9-Nov-1796
 Melter & Refiner Gold Bullion Warrant 1

------

The final contribution comes from Winston Zack:
 
Does anyone know the etymology (origins) of the nickname 'Office-Boy' reverse for the 1820 JR-2 bust dime? Apparently Breen used it in his encyclopedia, but is there an earlier reference?

Do we know if there was, and who the so-called 'apprentice' was who likely made this die!? Are there any mint records of mint employees at this time which could potentially answer this question?

Thanks very much,
Winston

Sunday, May 3, 2015

JR Newsletter: 3 May 2015 (239)



This week, we have two original contributions to the JR Newsletter, plus a reminder about nominations for the JRCS Hall of Fame.

Sheridan Downey wrote:

Last week no one reported on the sale of Robert Hilt, Jr.'s bust halves.  All eyes were on the 1794 O.109 after it was run up to $600,000 by a pair of Internet bidders several days before the auction.  There was, of course, no further bidding.  The hammer price stood, yielding $705,000 with the 17.5% buyer's fee.

Reliable sources at Heritage indicated that the bidders were somewhat unpredictable "trophy hunters," each with a habit of entering back-breaking bids with the expectation of acquiring the trophy and receiving a significant reduction in price.  This time one of them got caught.  Neither bidder is devoted to die variety collecting; so the price must be treated as an aberration that will not influence prices on prices on future offerings of rare die marriages.  The prices for Hilt's 1794 O.108 and 1795 O.101 confirm this thinking.

Best,
Sheridan

------

David Finkelstein wrote an article for us, "David Ott’s Account of Gold – Part 2"

His article is below:
 

David Ott’s Account of Gold – Part 2
By David Finkelstein


David Ott’s Account of Gold identifies when “clippings” were received from the Chief Coiner, melted into new ingots and delivered back to the Chief Coiner.  See Figures 1 and 2.  Clippings were the unused gold from previously made ingots.  They included shavings from the planchets after they were adjusted, and the remainder of the sheet after the planchets were cut out of them.  See Figure 3.

Since the clippings already contained the required gold and silver/copper alloy mix as mandated by the Mint & Coinage Act of April 2, 1792, they simply needed to be melted and poured into ingots.  Per the entries in David Ott’s Account of Gold, the clippings were usually melted into new ingots and delivered back to the Chief Coiner on the same day they were received.  In some cases, the clippings received were not enough for one ingot, and receipt of additional clippings were required before an ingot could be created.


Ingot Weight

Beginning July, 1795, the average weight of a melted and refined gold ingot was approximately 34 +/- 5 Troy ounces.  During September, 1795, the average weight increased to approximately 55 +/- 5 Troy ounces.  Then, in June, 1796, the average weight was reduced back to approximately 34 +/- 5 Troy ounces.  A cursory analysis of David Ott’s ledger has determined that the lighter weight ingots resulted in less unused gold (or clippings) than the heavier ingots.

Not only did the United States Mint experiment with the number of obverse stars to the left and right, the size, pattern type and number of stars above the eagle’s head, and the number of arrows in the eagle’s claw, they also experimented with ingot weight.

To be continued…


 

Figure 1 – David Ott’s Account of Gold: Page 11 – Clippings Received




 Figure 2 – David Ott’s Account of Gold: Page 12 – Ingots Returned




Figure 3 –Unused Part of Punched Out Sheet (Clippings)



------

Finally, a reminder:

Nominations for the JRCS Hall of Fame class of 2015 are now OPEN. However, the nomination period will close this month to allow the Hall of Fame Committee sufficient time to consider each nominee and select this year's honorees.

The membership is encouraged to send nominations for the Hall of Fame. You can nominate candidates for either the veteran (those who contributed before the advent of JRCS) or the modern (those who have been members of JRCS) categories. Please include any pertinent information about the nominee that you feel necessary. Nominees will then be voted on by the HOF committee and the inductees will be announced at the annual meeting at the ANA convention in the summer.

Please forward your nominations to me at jrnewsletter(at)jrcs.org or to Brad Karoleff at bkaroleff(at)yahoo.com

Thank you,
Richard Meaney