Sunday, February 26, 2012

JR Newsletter: 26 February 2012 (77)


Michael J. Sullivan wrote:

Here is a question for our newsletter members:    Which auction house sold the HIGHLANDER COLLECTION?    What was the date of the sale?

I own a wonderful 1795 dollar BB-52, XF-40 (PCSG) dollar from the sale.  The coin is lustrous and fully original.   It is scare early die state for the variety between the Bowers-Borckardt die states I - II.

Thanks in advance to our members for the answer to the auction sale question.

Michael J. Sullivan
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Brad Karoleff wrote:

Today, I shipped the index to John Reich Journal volumes one through twenty.  If a current, paid member of the JRCS does not receive a copy by March 3rd, please email me at bkaroleff (at) yahoo.com.  The index was not funded by dues payments, instead it was paid for by fundraisers and donations. 

Thanks,
Brad
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Richard Meaney wrote, in response to the inquiry about counterstamped bust quarters:

I am far from expert on bust quarters, but I can recommend two excellent sources of information on the E and L countermarks found on bust quarters.  Here they are:

-"Early United States Quarters 1796-1838" by Steve M. Tompkins.  See especially pages 351-357.

-"Early Quarter Dollars of the United States Mint 1796-1838" by Rory R. Rea, Dr. Glenn Peterson, Bradley S. Karoleff, and John J. Kovach, Jr.  See especially pages 325-330.

I do hope Tom can provide us with a picture or two of his coin once it comes back from PCGS!

Richard

Sunday, February 19, 2012

JR Newsletter: 19 February 2012 (76)


Wes Chormicle wrote about a new website he just put online:

I’ve started a new website dedicated to Capped Bust Half Dimes at the following web address: 


I have quite a ways to go, but thought you might want to take a peek and let me know what you think and what you might add.

Thanks,
Wes Chormicle
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Tom Little wrote about an "L Counterstamped" Bust Quarter:

I have an early Bust Quarter that PCGS has just certified; an 1825/4/(2) with an L counterstamp, graded XF40; Browing 3.  PCGS did not take a photo and I don't have the coin back from PCGS just yet.  The certification number is 24576786
  
Do you have any additional information on this particular variety and counterstamp, its price value, best venue to sell, etc.?  PCGS lists the variety as over $4K in its price guide. There is a thread at Coin Talk on the subject:


I can also be reached at 203-966-2255

Regards,
Tom

Sunday, February 12, 2012

JR Newsletter: 12 February 2012 (75)


(editor's note:  click on any image to open a larger version of that image)

Brad Karoleff wrote:

Please remember that the Bust Quarter census will be included in the Spring issue of The John Reich Journal.  If you have not yet forwarded your census information to Glenn Peterson, please do it NOW to be included in the census.  You can send Glenn your information at gpeters (at) tds.net or hard copies should be sent to Glenn Peterson, 9301 Park West Blvd, Knoxville, TN 37923.

We still need volunteers for manning the tables at the EAC/JRCS convention.  This is a wonderful opportunity to meet fellow collectors and see many neat coins!  Please let me know if you can help at bkaroleff (at) yahoo.com.

The membership will be receiving a copy of the complete index of the John Reich Journal soon.  We are proofing the final copy as you read this and expect it to be in the mail near the end of Feb or the beginning of March.  This will be provided to the membership at no additional cost as many members have donated money or auction lots to raise the money for the issue. 

The Spring issue of the journal will follow soon thereafter.  We can still use a couple of articles or letters to the editor for inclusion in the issue.  We also would like to have some remembrances of David Davis to include in the issue.  Please send them to me at bkaroleff (at) yahoo.com or Brad Karoleff C/O Coins +, 225 E 6th St., suite 1, Cincinnati, OH 45202.  Thank you.

We also need to determine the cover coin for the next volume of the journal.  If anyone has a great photo of a great coin for consideration you can contact me via email for more information.

Remember, EAC/JRCS is sneaking up on us.  Make your plans to attend NOW!

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Winston Zack wrote:

While I sent Van an email of the image of the 1834 JR-4 Capped Bust Dime with a reverse Cud over UN(IT)ED, I think the rest of the JR Newsletter recipients would like to see it so they may be able to come across (cherrypick) one in their future searches.

Jim Matthews sent me some additional information regarding the rarity of the 1825 JR-4 Retained Cud and it is both of our understandings that the population of this die state is around, if not more than 5 pieces extant.  I further informed him that the die did not fail suddenly without first exhibiting signs of die cracking, which he assumed.  The first 1825 JR-4 I picked up (about 3 years ago) shows early signs of die failure with cracking at stars 8-11. The image I'm providing was taken with my digital-camera-microscope.  I still believe this die state is very rare as well, but I could be wrong.  If anyone else has an example which shows these die cracks, or a die state slightly more advanced than what I am sharing please feel free to share photo's if you have any.  (This die crack specimen is a VG-8 coin).

Images are below:





Keep Hunting,
Winston
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David Quint wrote:

With regard to the EAC/JRCS show, I'd like to put it out there that my guess is that many who want to attend these meetings can not. Perhaps one of the attendees would be willing to bring a laptop and stream the thing live on the internet? Easy for me to say since I'm never there, but perhaps one of those who is planning to be in Buffalo would be willing to do this (that is, if it indeed is the case that there are many more like me who won't be in Buffalo that weekend but would like to participate or listen in on the meeting or presentations)...

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Alan Weinberg wrote in response to an inquiry last week by Dick Kurtz:

The copy of the Birch cent is likely the product of the Gallery Mint. They come full blazing red and prooflike and can be acquired at the ANA or Baltimore bourses from one single dealer who specializes in them and other Gallery mint issues. I have to admit they are very attractive and closely resemble the original. It would be interesting to carry one in pocket change for a year til it is worn to say VF and is brown.

The Birch cent has eluded me for 4 decades. I have all the other "collectible" 1792 patterns in choice condition but the Birch cent. There cannot be but 4 or 5  genuine Birch cents of both types in decent collectible condition (Very Good or better). The best one is the mint red specimen sold in Garrett and going directly into the DGP Long Island collection. The last "decent" one (VF) was in Norweb 1988 and is now in the Smithsonian.

Even superbly made electrotypes are super-rare, the few around have gaping lead exposure on their surfaces. I do own the ex-Maurice Gould Birch cent electrotype which is Uncirculated and exhibits no underlying lead even under a good glass. Guess I'll have to die with that.

Alan V. Weinberg
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Larry Schmidt wrote:

Like Dave Wnuck I too enjoy collecting early US contemporary counterfeits. From experience gained in collecting these types of coins there are a few points to consider in the study of this 1811 Half Eagle counterfeit:

  • Contemporary counterfeiters would have wanted their coins to been accepted into general circulation with as little attention brought to them as possible.  As a comparison this is certainly true for the vast majority of known contemporary counterfeit Capped Bust Halves, a widely counterfeited coin of the same era.  Identified with nearly 350 varieties in Keith Davignon's book Contemporary Counterfeit Capped Bust Halves - Second Edition and a complementing website ccCBHcc.com, these contemporary counterfeits attempted to look like genuine US Mint coinage with appropriately matched obverses and reverses.  (Yes, there are varieties with the wrong number of stars and very crude folk art like images, but these are the exceptions.)  
  • Perhaps this counterfeit was intentionally struck to give the appearance of a worn state as was known to have been intentionally done by 19th century contemporary counterfeiters and continues to today with newly minted supplies of early US coinage fakes.
  • Could this 1811 Half Eagle be a more recent counterfeit?  It is known that quite unbelievable obverse and reverse counterfeit marriages seemed to have proliferated with foreign minted fakes displaying ignorance of early US coinage (e.g. please see examples of an 1807 dime and an 1809 dime in the below images from my own collection).  



Hope these perspectives help in the study of this very interesting specimen!

Larry Schmidt
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Van Walworth wrote:

Hey Bust Dime guys...

I have this 1836 JR-1 Bust Dime that is in decent condition.  Photos are attached.  The interesting thing about this particular example is that when observing the strike on the obverse, it could be considered slightly off-center as many of the coins of the era often are... and the off-center strike is somewhat evident by the missing denticles above Stars S4-S5-S6-S7 while the rest of the denticles are quite well formed.

On the reverse is a different story... in this case there are NO denticles and there does not seem to be any off-center strike evidence.  It would appear to me that the forming process of the denticles was "missed" for this coin?  I must admit my lack of knowledge for the actual minting sequence and do not have a very clear understanding of the process flow of the forming of the denticles on the obverse and reverse of the coins.  I am hoping that someone in the group with considerable knowledge can shed some light on this coin as to why it looks like it does.

I look forward to hearing from the sages in the group...

Here are the images:

Van Walworth
JRCS #1300






Sunday, February 5, 2012

JR Newsletter: 5 February 2012 (74)


Dave Wnuck wrote about a Possible Hybrid Between a Half Eagle and a Bust Quarter on an 1811 Contemporary Counterfeit 1811 $5:

Hi JRCS Members:
 
I have an intriguing contemporary counterfeit 1811 $5 gold coin in my collection.  I have had it for a while, but I have never seen another specimen in my 20+ years of collecting contemporary counterfeits. 
 
So – I thought I would ask the question of the membership: Does anyone else have an example of this?
 
The most interesting aspect of this item is: the design seems to be a hybrid between an 1811 $5 and a Bust Quarter of the 1815-28 type.  Most obvious is the eagle on the reverse.  The eagle’s wingtips point downward on both this specimen and on bust quarters, but the wingtips point toward the sky on genuine half eagles of the period.  Yet the denomination of “5 D.” and the gold wash still clinging to the specimen clearly show what denomination the counterfeiter was aiming for.
 
Here are the specs on this coin:
---------
1811 contemporary counterfeit US Half Eagle.
Struck in copper with crude false dies.  Gold washed, with traces of gold still visible.
6.11 grams (compared with 8.75 grams for a genuine specimen)
26.5 mm diameter (compared with 25 mm for a genuine specimen)
Reeded edge.
Rings like a bell.
-----
 
I would be interested to hear any and all thoughts and observations on this “coin”.
 
Sincerely,
Dave Wnuck 

Editor's note:  Click on the image below to view a larger version of Dave's coin:

 
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Dick Kurtz wrote:

I was fortunate to win a copy (so marked on the reverse) of a Birch Cent at the JRCS meeting at the January 2012 FUN show. Does anyone who attended that meeting know who made it? Copy or not, it's a neat piece to own.

Dick Kurtz #049
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Van Walworth wrote:

I read with interest Winston's report of his 1825 JR-4 obverse cud find... and would love to see a photo of the 1834 JR-4 reverse full cud example he discovered... Thx... Van
------

Nathan Markowitz wrote about the upcoming EAC-JRCS meeting in Buffalo, NY:

This is the LAST CALL for anyone who wishes to share their enthusiasm and knowledge about early federal silver with fellow collectors of both the silver and copper type at the May 3-6 EAC/JRCS show.  The talks will be given Friday May 5 and Saturday May 6.  If you plan to attend please consider sharing your passion for early silver with like-minded collectors. I can be reached at cascades1787 (at) yahoo.com

Sunday, January 29, 2012

JR Newsletter: 29 January 2012 (73)


Winston Zack provides our only contribution this week, but it's a great one:


Several of you Bust Dime guys who also collect die states may have noticed that an extremely rare 1825 JR-4 with obverse Retained Cud popped up on eBay in a 5-coin Bust Dime lot this past week.  The seller is notorious for selling groups of primarily lower grade/cull type coins, so it was that much more impressive to notice that the 1825 JR-4 Obverse Cud in this lot appeared to be a respectable example with no immediately discernible damage noticeable from the images.  From the moment I first saw the listing I knew this was one of the rarest cuds in the Capped Bust Dime series; an example still missing from my collection of Capped Bust Dime Retained and Full Cuds; currently there are ~30-32 Capped Bust Dime die marriages exhibiting cuds (refer to the March 2009  Vol. 19, Issue 3 John Reich Journal for an ALMOST complete list of known Capped Bust Dime Cuds with their rarity estimates; the only two I am aware of which are missing from that list are the 1830 JR-2 reverse retained cud and the 1834 JR-4 reverse full cud which I discovered in 2010 and is still unique as far as I know).

Previously, the only image I had seen of this die state was from Jim Matthews' John Reich Journal article (whole number 49, June 2005).  The example shown in the article appeared comparable to the example from eBay - lower-grade G/VG.  In the Matthews article, he noted that this die state is only known in the Retained Cud form, and no examples were known in the Full Cud; at the very least low-grade examples (pretty much anything VF and lower) are very difficult to attribute as Full Cuds unless other known characteristics are present.  In addition, the only known reference I am aware of citing the rarity of this Cud (and other Capped Bust Dime Cuds) comes from Charles Horning's March 2009 Vol. 19 Issue 3 John Reich Journal, where he cited this Cud as an R7+ (~4-6 known).

What makes this Cud so much more interesting than just its current rarity is the fact that it is an obverse cud ( < 20% of known Capped Bust Dime Cuds are obverse Cuds due to the position of the dies and the differential pressures exerted on each die in the coin operation) and the size of the Cud.  Few Capped Bust Dime Cuds rival the size of this example, and the only example I can think of which is larger is the 1833 JR-4 reverse Cud from E1 to A2, although that Cud forms in 3 stages rather than failing all at once as is assumed on the 1825 JR-4.

After providing that background I am pleased to report I was the winner (barely) of this coin (and the 4 others) last week.  It now proudly rests alongside my other Capped Bust Dime Cuds, of which I now have 16 different die marriages.  In terms of condition, the coin exhibits G+ details with a couple of light rim dings around 9 o'clock.  The Cud appears to be full (or nearly so), but I attribute the filling of the area as wear and consider this a worn retained cud.  I have provided photos of the coin below.

Editor's note:  Click on a photo to view a larger version of the photo.





 In addition, I am selling my 1825 B-3 Capped Bust Quarter with Reverse Cud through UNITED; 1825 must have been a rough year for quality control at the mint!  The coin is Good, light rim wear is creeping into the fields and light circulation chatter noted for accuracy.  I'm looking for $625 shipped and insured (or best offer).  Photo also provided below.  If interested in purchasing the quarter, please contact me via email at stoneman101 (at) gmail.com




Sunday, January 22, 2012

JR Newsletter: 22 January 2012 (72)

Richard Meaney wrote:

Congratulations to Louis Scuderi for his find of an 1832 LM-9.2 half dime (as reported in last week's JR Newsletter)!  I believe the 1832 LM-9.2 is one of the most difficult die remarriages to find in any grade in the entire capped bust half dime series.  I know we can never know with certainty how many examples are extant, but I do believe we are still firmly in the single digits with known examples of this remarriage.

Richard
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Richard Faubion wrote:

That is indeed exciting news about Dick Graham's upcoming treatise on Reeded Edge Halves.  Please do keep us apprised as to the publication details.  Oh, and thanks so much for your efforts in producing the JRCS Newsletter!  

Regards,
Richard Faubion

Sunday, January 15, 2012

JR Newsletter: 15 January 2012 (71)

Louis Scuderi wrote with some big news for half dime collectors:

A recent find - 1832 LM9.2. A straight purchase at type cost off a dealer's web site. Saw the obverse and remembered the sort of mushy strike that I saw on the LM book specimen and thought- please let it be reverse T. Luck was with me.

Examination with a hand lens reveals the slightest die chip in the right upright/diagonal of the N. So it was struck just slightly before the 1833 LM3.2. Although there is no mention of a die chip on the N in the LM book for 1833 LM3.2, the image in the book does show what I believe to be the beginnings of one.

The die swelling above the eagle's head is the most pronounced of any of the reverse T marriages/remarriages that I have seen. Interestingly of the the later remarriages (#'s 7 through 13) only the 1832's (remarriages #8, 10 and 12) show the swelling strongly while the 1833's (remarriages #7, 9, 11 and 13) do not. Just a thought but perhaps in part the weakness in this area has to do with the engraved depth of the 1832 obverse dies #2 and #4? Perhaps it is a bit deeper on these 1832 dies than on the 1833 Obverse 1 and 2 dies that were married to reverse T? The deeper dies for the 1832's would make it difficult to fully strike up the reverse opposite the bust and thus enhance the die swelling above the head and at the scroll?

Louis

Editor's note: An image of the 1832 LM-9.2 is below.  Click on the image to enlarge it.



------
Rich Uhrich wrote a follow up to his contribution on the 1827 JR-14 dime:

I received the coin back from PCGS today, it is graded PCGS VG-8 and it is labeled JR-14.

I read with interest the note from Louis Scuderi in the JR Newsletter, and in fact both the owner and I noticed the same thing.  In the excellent book on 1827 JR-2 dimes by Jim Koenings, the flags of the number "1" in "10 C." differ in shape also.  For example, coins #2, 9, 17, 18, 24, 25, and 28 have somewhat triangular flags very similar to the flag on the JR-14, while coins 5, 8, 11, 14, 26, 27, and 30 have very flat flags and do not look like the flag on the JR-14.  So the flag on the JR-14 matches some of the JR-2 dimes in Jim Koenings' book, but doesn't match others.  I have no idea why this is.  But Louis has raised a good point, and it seems to apply to the JR-2 reverse, not just the JR-14 reverse.

All of the other attribution points match up, and many Bust Dimes experts examined the coin at the FUN show with no disagreement on its variety attribution, plus PCGS also agrees it is definitely a JR-14.

Hope this helps.
Rich Uhrich
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David Quint wrote:

Kudos to Louis for noticing the difference between the flat vs. sloped-top 1 on the new 1827 JR-14 example.  The punches used for the 1 in the denomination included both the flat and sloped-top versions, with the flat version losing its right foot along the way.  The punch with the flat top and the broken right foot can be seen on not only the 1827 JR-2 but (I believe) on the 21 JR-10, the 23 JR-2, and the 24 JR-1. To my eye it looks remarkably similar to the 1 found on the 1814 small date (both obverse and reverse), but on the 1814 the right foot is intact and the stem is a bit thicker. Observing the different examples of the broken-foot 1, it appears to me that the "flatness" of the top of the 1 differs slightly between different examples, possibly due to strike and/or polish in the die at the highest recesses of the 1. Thankfully, there is a book full of pictures of the 1827 JR-2 (by Jim Koenings) and one can detect slight differences in the slopes of the top of the 1 on these examples (for instance, the Rank 1 and 9 coins seem to have an upward slope while the Rank 5 almost seems to have a downward slope).  If you go through his book comparing nothing but the tops of these 1's, it is quite striking just how different one flat-top is from another flat-top. Putting some of these side-by-side one can almost think that these 1's are distinct, or at least repunched versions of one another. But my guess is that what we're seeing is the simple result of a 19th C manufacturing process that produced coins with tiny inconsistencies. I hope others take a look at Jim's book and let us know if they see the same thing.

David Quint

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Van Walworth wrote:

Continuing the thread of comments related to the 1821 JR-1 Bust Dimes... In Jim Koenings' booklet covering the the 1824 JR-2 Bust Dimes, he does an excellent job with a census and details concerning this rare variety.  As he was preparing his manuscript some obvious counterfeits samples of 1824 dimes made the circuit and at least one "not-so-obvious" counterfeit sample.  I purchased the not-so-obvious dime to get a better look at it in person.  Jim includes my write up and report at the back of his booklet.  I bring this particular dime up related to the 1821 JR-1 conversation because this dime seems to have all the markings and features consistent with the obverse of 1821 JR-1 EXCEPT the date is 1824 and not 1821.  The reverse is also consistent with the reverse of 1821 JR-1.  The 1824 date on the coin does not have the characteristic over date marks of the "4/2".  In addition, there is no visible crack between S1 & S2.  My question is related to "where did the pattern for this coin come from?" If it is counterfeit, the pattern with appropriate details from an 1821 JR-1 specimen apparently was in pristine enough condition for the forger to mimic its details down to fine points... leaving out any visible reference of a crack between S1 & S2.  If there had been such an S1-S2 die crack on the pattern coin, why leave that one little detail out?  I look forward to some comments from some of you bust dime specialist who have much more wisdom and insight into this kind of thing than I.
 ------

Charlie Horning wrote about the FUN Show:

The show was pretty lackluster for several reasons, I think.  First, the dealers are flush due to the rise of gold and beyond belief bullion prices/sales. They, therefore, are in no rush to move numismatic merchandise. Secondly, it looked to me the average age of the collectors present on Thursday and Friday was about 56.  That probably means that the vast majority of collectors are "mature" in their collecting and therefore much more selective. The days of filling holes are over -- quality and originality reign supreme.  Lastly, the economy is still in the crapper -- numismatics is a hobby dependent upon after-tax disposable income -- perhaps not too many collectors feel comfortable stepping up under present conditions...

Charlie
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Alan V. Weinberg also wrote about the FUN Show:

My impressions and experiences at the Jan FUN show:

A superb show, not reflecting any of the impressions I've received at other recent shows where things were largely "downbeat" due to mediocre attendance and the economy. FUN attendance was huge, there was a buzz in the air. Roaming the bourse floor constantly from setup day, I did not overhear one single mediocre or negative comment from dealers or collectors. The FUN people, as always, were fully prepared and had every conceivable demand under control including daily morning breakfast setups for the dealers and sandwich wraps for the dealers set-up day.

The bourse had approx 575 bourse tables, considerably more than last year I'm told and this year for the 1st time in many years the convention facility faced International Drive and the hotels. Complimentary bus service to and from those hotels was excellent throughout the day and early evening. The prevalence of law enforcement was evident throughout the show. Upon arrival in Orlando early Wed morning (34 degrees!) , my driver said the city was "dead"- quiet. And the amazing fact, unprecedented, was that NO other convention was being held at the Orange County Convention Center massive facility- FUN was the only convention. The exact opposite has been true for decades to the degree that last year FUN was forced to move to Tampa due to the Orlando Convention Center being fully taken up.

I acquired some truly great treasures and sold almost everything I brought. In summary, the entire show was exciting, even exhilarating and the hobby was once again tremendous fun- which is in fact what keeps most dealers and collectors active and interested. 

Alan V. Weinberg
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Nathan Markowitz wrote about the upcoming EAC-JRCS meeting:

Call for speakers for Buffalo.  Please consider sharing your expertise and enthusiasm with a 45-minute presentation at the Buffalo convention if you are able to attend.  We have a group of committed numismatists eager to learn new areas and virtually any early silver topic would be great given that this is a relatively new venture.  In particular, it would be terrific to have an introduction to a series and I am especially committed to offering new speakers a chance to present...so don't be shy.  I am charged with organizing speakers for Friday May 4 and Saturday May 5. 

If you wish to attend, the real excitement begins Thursday evening with the Happenings (coin displays), and the educational program concludes Saturday afternoon. Saturday night is "just" a copper auction and prolonged bull sessions at the bar and Sunday is the EAC meeting so for JRCS folks Thursday at 5PM until Saturday would be a full dose of numismatics.  Feel free to contact me if you have any interest in speaking or any questions about the event at cascades1787 (at) yahoo.com

By the way, the early quarter selected to display this year is 1818 Browning 6...so bring your cracked B6s to study and show off to the copper folks...

Nathan Markowitz
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Brad Karoleff wrote about a JRCS meeting at the upcoming Baltimore show:

We have scheduled the JRCS regional meeting for Friday, March 23 at 4:00 PM.  The complete schedule of meetings can be accessed through the Whitman website for the show:  http://whitman.com/expos  If anyone is interested in speaking at the meeting please contact Brad at jrcs19 (at) roadrunner.com.  Thank you.

Brad
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And finally, a note from the editor about an exciting topic for the JRCS meeting at the Summer ANA show in Philadelphia:

Dick Graham has agreed to be the featured educational speaker at the JRCS meeting in Philadelphia and will give a presentation on the Reeded Edge Half Dollar series and varieties.  Dick has been collecting and studying Reeded Edge Halves for fifteen years and is preparing a book for publication on this under-served area of numismatics.  Dick can't promise that the book will be completed prior to the Summer ANA, but he is working diligently on the project (I got to see a bound draft at the FUN Show!).