our first bimetallic commemorative coin rticlesbimetallic $10 coin the coin is available in proof...

Established in 1954

April 2010

IN THIS ISSUE

ARTICLES

Our First Bimetallic Commemorative Coin

A Look at the Treasury Notes of 1890-91: Part II

Consider Exhibiting at the RCC Show

First Issue of America the Beautiful Quarters

Program Set for April

Around the Web

RCC National Coin Week Programs

REGULAR FEATURES

President’s Message

Meeting Minutes

Show Calendar

METALS INDEX

Spot Prices as of 9 April 2010

Platinum: $1721 (+ $116)

Gold: $1161.40 (+ $59.90)

Silver: $18.39 (+ $1.32)

Our First Bimetallic Commemorative Coin

By Dave Provost

Ten years ago this month, the US Mint released a “first ever” coin for the US – the 2000 Library of Congress Bicentennial gold and platinum bimetallic $10 coin. While coins comprised of two separate planchets struck together as one had recently been released by other mints around the world (Italy was the first in the modern era with a 500 Lira coin in 1982), the Library of Congress $10 coin was the first such release by the US Mint -- not counting the experimental silver plug cents of 1792.

The Library of Congress bimetallic commemorative coin features an outer ring of gold and an inner ring of platinum. According to the 14 April 2000 US Mint press release announcing the coin, the “outer ring is stamped from a sheet of gold, and then a solid core of platinum is placed within the ring. The gold ring and platinum core is then simultaneously coined forming an annular bead where the two precious metals meet.”

The authorizing legislation for the coin (PL 105-268) allowed for either a $5.00 gold half-eagle or a $10 gold and platinum bimetallic coin. At the urging of Library of Congress leadership, the Treasury proceeded with the bimetallic coin and made US commemorative coin history. The $10 bimetallic coin was joined by a commemorative silver dollar.

For nearly all of its first century, the LOC was originally housed within the US Capitol. In 1897, however, the Thomas Jefferson Building was opened and the Library had its first standalone location on Capitol Hill. Today, the John Adams Building (opened in 1938) and the James Madison Memorial Building (opened in 1981) join the Jefferson Building on Capitol Hill and form the core facilities of the LOC; the Library of Congress also maintains a number of inter-

Our First Bimetallic Commemorative Coin continued on Page 4

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Raleigh Coin Club Newsletter April 2010

Raleigh Coin Club

PO Box 25817 Raleigh NC 27611-5817

http//www.raleighcoinclub.org

Established 1954

Club Officers President

David Boitnott

Vice President Jim Jones

Secretary Richard Brown

Treasurer Steve Pladna

Sergeant-at-Arms Benji Harrell

Directors (Term Ending)

Kent Woodson (2010) Paul Livingston (2011) Roger Beckner (2012)

Newsletter Editor Dave Provost

[email protected]

Club Affiliations American Numismatic Association

Member #C1079478

Blue Ridge Numismatic Association Member #C3383

Eastern States Numismatic Association Member #0026 (Life)

North Carolina Numismatic Association Member #C14 (Life)

Contents © Copyright Raleigh Coin Club 2010

The RCC grants permission to reprint for non-profit educational purposes only any articles not individually copyrighted by the

author provided the RCC Newsletter is cited as the source.

March Meeting Minutes

The meeting was called to order by David B at 7:38pm. 27 members (including 2 YNs) attended.

Club Business

Steve P reported on the club’s finances; account balances continue to be positive and 2010 bourse table payments are now coming in from dealers.

National Coin Week activities were discussed. Two different activities at local libraries were approved.

Jim J will set up an exhibit case at the Cameron Village Library for display during April. Jim J and Halbert C will be with the exhibit on Sunday, April 25th at 1:30pm to greet library visitors and answer questions about the hobby and the RCC.

Dave P and David B will present a program at the North Raleigh Branch Library. In keeping with the NCW theme, the program will present US natural and man-made landmarks depicted on coins, medals and paper money.

The club voted to donate several numismatic books to the Wake County Library System in conjunction with our programs.

Paul La gave an update on the upcoming RCC Show, and reported sales of 31 dealer tables.

Jim J has been working with Paul re: the many activities needed to prepare for and run the show. Checklists for the major activities were prepared and Jim and Paul discussed “Chair” positions with various members in attendance.

The postcard mailing to previous show attendees was discussed. David B and Paul La will work together to prepare a “clean” list for mailing. An estimated 1500 cards are to be sent ahead of the show.

Paul Li suggested reproducing an obsolete NC note with a show advertisement on the back. David B asked Paul to develop the plan and report back.

David B reminded everyone that 2010 dues were overdue and needed to be paid in order to continue receiving the Newsletter.

Dave P requested the exhibit case for April.

Will H volunteered to bring the April refreshments.

Show-and-Tell

Paul La:

Talked about his recent trip to the International Coin Fair in Munich and the Tower of London (in London, England) where he saw fake medieval coinage on display. He also shared a German 10,000 Mark embroidered linen note.

Bob S:

Offered a 15 Shilling colonial note from NC which had been backed, sewn and pinned due to heavy circulation during colonial times.

Continued on Page 8

http://www.raleighcoinclub.org


President’s Message By the time you read this, we will be within days

of the start of this year’s National Coin Week (NCW). And, by the time we meet on the 20th, Dave P and I will have already completed the RCC’s first NCW event at the North Raleigh Regional Library -- Dave will be giving a talk titled “Touring America Through Coins, Medals and Paper Money” in the library’s meeting room. (More details about the talk can be found on Page 10.) If you are free Sunday the 18th, come on out and join the fun. I believe refreshments are to be provided!

Also, Jim J will be setting up a static exhibit in an entrance lobby showcase at the Cameron Village Regional Library (located at 1930 Clark Ave., Raleigh, NC 27605); it will be on display during April. Halbert and Jim will also be manning a table in the entrance lobby on Sunday, April 25th to answer questions about coins, paper money and the hobby that library patrons may have. Again, if you are free that Sunday, go on out and join the fun.

The last National Coin Week item concerns our meeting. Last month, I did not announce a theme for Show-n-Tell. I wish I could say this was part of some grand plan -- but I just forgot! Well, resisting the obvious tax implications of April, this month’s theme will be the National Coin Week theme - “Beautiful Places: Landmarks and Mintmarks.” So, bring your interesting Show-n-Tell items that fit the theme for bonus points.

From a business perspective we need to make some hard and quick decisions about budget items related to the show. I don’t want to get bogged down in major debates during the meeting, so I’m asking the officers, directors and show committee members to be on hand 30 minutes early so we can discuss and dispense with much of the work before hand. All that will be needed during the general meeting will be votes on budget changes.

On the show front, Paul La reports that as of April 1st we are on track with table sales compared to last year (actually a couple of tables a head). We have had a number of regular dealers already decline our show in favor of either Baltimore or Memphis. But, so far, there have been no negative surprises – we were expecting some dealers to

April Meeting Notice

DATE

20 April 2010

TIME

7:30pm

WHERE

Ridge Road Baptist Church

PROGRAM

“Remembering the Pony Express”

Dave Provost

decline. In fact, two dealers who I had “going elsewhere” on my scorecard have already submitted their contracts for our show. In fact, one actually doubled his normal table count! We have also had a few new names submit contracts. So, although we’re not out of the woods by any means, I am at least feeling better about our dealer turnout. That light at the end of the tunnel may not be a train after all!

If you have not been asked to do anything specific for the show and want to help out or have an idea on how to improve something, don’t be shy – speak up! There will be plenty of opportunities to help with dealer setup on Friday of the show, registration and club table staffing during the show and dealer pack up at the end. Plan on pitching in when and where you can.

To all our young numismatists – remember the Raleigh CoinHawks will meet at 6:45PM just prior to the regular meeting for about a half hour.

See ya’ at the April meeting on the third Tuesday (April 20th) at the Ridge Road Baptist Church. Remember, promote the hobby and the club – recruit a new member – there’s points in it.

David Boitnott


Continued from Page 1

national locations. The Library of Congress is the nation’s oldest federal cultural institution and the largest library in the world, with approximately 145 million catalogued items and approximately 745 miles of bookshelves.

The obverse of the bimetallic coin features “the hand of Minerva raising the torch of learning over the dome of the magnificent Jefferson Building.” The coin’s reverse features the logo of the Library of Congress encircled by a laurel wreath. The obverse was designed by US Mint sculptor/ engraver John Mercanti, while the reverse was the work of Mint sculptor/ engraver Thomas D. Rogers. The coins were stuck at the West Point facility.

Obverse of 2000 Library of Congress Bimetallic $10 Coin

Our First Bimetallic Commemorative Coin (cont.)

Reverse of 2000 Library of Congress Bimetallic $10 Coin

The coin is available in proof and uncirculated versions, with the proof coins originally selling for $395 ($425 after the pre-issue discount period) and the uncirculated selling for $380 ($405). The issue was not a sell-out. The authorizing legislation allowed for up to 200,000 bimetallic coins to be struck, but just 7,261 uncirculated and 27,445 proof coins were sold. The combination of limited mintage and advancing prices of precious metals has driven current selling prices of these pieces into the $1,000+ ranges for proofs and $4,000+ for high-grade uncirculated versions.

For more information about the Library of Congress, visit www.loc.gov.

Until next month, Happy Collecting!

All images are courtesy of the US Mint (www.usmint.gov).

Numismatic Trivia Quiz

1. Which view of the White House is featured on the current $20 bill? 2. Which state quarter portrays an image that is totally not within its state boundary? 3. Which presidential inaugural medal was designed by Augustus St. Gaudens?

Submit your answers to Dave P during the April meeting and earn NOTY points! (Only correct answers earn points!)

http://www.usmint.gov


1891 $2.00 Treasury Note - McPherson

1891 $5.00 Treasury Note - Thomas

$10.00 Philip Henry Sheridan (b. March 6, 1831, d. August 5, 1888) was a career United States Army officer and a Union general in the American Civil War. His career was noted for his rapid rise to major general and his close association with Lt. Gen. Ulysses S. Grant, who transferred Sheridan from command of an infantry division in the Western Theater to lead the Cavalry Corps of the Army of the Potomac in the East. In 1864, he defeated Confederate forces in the Shenandoah Valley and his destruction of the economic infrastructure of the Valley, called "The Burning" by residents, was one of the first uses of scorched earth tactics in the war. In 1865, his cavalry pursued Gen. Robert E. Lee and was instrumental in forcing his surrender at Appomattox.

$20.00 John Marshall (b. September 24, 1755, d. July 6, 1835) was an American statesman and jurist who shaped American constitutional law and made the Supreme Court a center of power. Marshall was Chief Justice of the United States, serving from February 4, 1801, until his death in 1835. He served in the United States House of

By Bruce Stewart

Editor’s Note: Last month’s RCC Newsletter featured the first part of Bruce’s interesting look at the Treasury Notes of 1890 and 1891. The first installment focused on the background and history of the notes. This month, Bruce discusses the men featured on each of the notes.

As we discussed last month, the Treasury Notes of 1890 and 1891 were issued in denominations of $1, $2, $5, $10, $20, $50, $100 and $1,000. Each note featured a portrait on its face and an ornately engraved denomination on its back. Following is a brief bio of each of the men portrayed on the notes:

$1.00 Edwin McMasters Stanton (b. December 19, 1814, d. December 24, 1869) was an American lawyer, politician, United States Attorney General in 1860-61 and Secretary of War through most of the American Civil War and Reconstruction era.

1890 $1.00 Treasury Note - Stanton

$2.00 James Birdseye McPherson (b. November 14, 1828, d. July 22, 1864) was a career United States Army officer who served as a General in the Union Army during the American Civil War. He was killed at the Battle of Atlanta and was the highest ranking Union officer killed during the conflict.

$5.00 George Henry Thomas (b. July 31, 1816, d. March 28, 1870) was a career United States Army officer and a Union General during the American Civil War, one of the principal commanders in the Western Theater.

Treasury Notes of 1890 and 1891: Part I I


Treasury Notes of 1890

and 1891: Part I I

(cont.)

Representatives from March 4, 1799, to June 7, 1800, and, under President John Adams, was Secretary of State from June 6, 1800, to March 4, 1801. Marshall was a Virginian and a leader of the Federalist Party. He was the longest serving Chief Justice in Supreme Court history.

1891 $10.00 Treasury Note - Sheridan

1890 $20.00 Treasury Note - Marshall

$50.00 William Henry Seward, Sr. (b. May 16, 1801, d. October 10, 1872) was the 12th Governor of New York, a U. S. Senator and the Secretary of State under Abraham Lincoln and Andrew Johnson. He was an outspoken opponent of the spread of slavery in the years before the Civil War. He was a dominant figure in the Republican party in its formative years, and was widely regarded as the leading contender for the party's presidential nomination in 1860 – yet his very outspokenness may have cost him the nomination. Despite the loss, he became a loyal member of Lincoln's wartime cabinet, and played a role in preventing foreign intervention early in the war. As Johnson's Secretary of State, he engineered the purchase of Alaska from Russia in an act that was ridiculed at the time as "Seward's Folly," but exemplified his character.

1891 $50.00 Treasury Note - Seward

$100.00 David Glasgow Farragut (b. July 5, 1801, d. August 14, 1870) was a flag officer of the United States Navy during the American Civil War. He was the first rear admiral, vice admiral, and full admiral of the Navy. He is remembered in popular culture for his order at the Battle of Mobile Bay, usually paraphrased as: "Damn the torpedoes, full speed ahead!" to U.S. Navy tradition.

1890 $100.00 Treasury Note - Farragut

$1000.00 George Gordon Meade (b. December 31, 1815, d. November 6, 1872) was a career United States Army officer and civil engineer involved in coastal construction, including several lighthouses. He fought with distinction in the Seminole War and Mexican-American War. During the American Civil War he served as a Union general, rising from command of a brigade to the Army of the Potomac. He is best known for defeating Confederate General Robert E. Lee at the Battle of Gettysburg in 1863.

In 1864–65, Meade continued to command the Army of the Potomac through the Overland Campaign, the Richmond-Petersburg Campaign, and the Appomattox Campaign, but he was overshadowed by the direct supervision of the general in chief, Lt. Gen. Ulysses S. Grant.


Consider Exhibiting at the RCC Show

By Dave Provost

One aspect of our annual show that I

especially enjoy is the opportunity to learn more about the collecting interests of our members through their presentation of a portion of their collection in our Educational Exhibits area. Over the years, we’ve featured an incredibly wide range of numismatic items in our exhibit area – from “pennies” to gold coins, from common coins to unqualified rarities! Some exhibits have represented years of collecting effort by their owner, others have simply showcased a few recent acquisitions. The beauty has always been in the variety!

So, whether you collect coins or paper money, medals or tokens, errors or commemoratives (or anything else with a numismatic connection!) please consider preparing an exhibit for our show. You’ll likely

learn more about your collection as you prepare

your exhibit and you’ll definitely experience “pride of ownership” as your fellow collectors view your presentation and applaud your efforts.

With just over two months remaining before our 2010 show, now’s the time to start preparing your exhibit. The RCC is fortunate to include several ANA award-winning exhibitors within its membership – David B, Dave P and Halbert C. Each would be happy to answer questions about exhibiting and share a few tips. Please check with them at the April meeting.

I’ll have Exhibit Applications available at our monthly meetings from April through June, please see me if you’re interested or have any questions before deciding.

Continued from Page 6.

The $1000 “Grand Watermelon” on which he is featured is, as of this date, the most expensive US banknote ever sold. A world’s record price of $2,255,000 was paid for this note, more than double

the previous record. Heritage Auction Galleries of Dallas, Texas brokered the private transaction between two collectors. The only other known red seal Grand Watermelon is in the museum at the Federal Reserve Bank of San Francisco.

All images are courtesy of

Heritage Auctions (www.ha.com).

Treasury Notes of 1890 and 1891: Part I I

(cont.)

http://www.ha.com


Meeting Minutes (cont.)

Continued from Page 2

Halbert C:

A brochure on the upcoming America the

Beautiful Quarters™ Program.

Roger B:

Presented a 1999 Nickel (NGC MS-66)

featuring a reverse capped die multi-struck.

Gene F:

An 1813 50-cent Capped Bust error; “50 C” over inverted “UNI” on reverse.

Andy K:

(YN) Showed a medal featuring Mt. Rushmore and the Indian Chief Black Elk.

Charles T:

An 1887 Morgan Dollar VAM 12 Alligator Eye and a 2008 P Jefferson Nickel with an "Eye" clash.

Bob I:

Offered a German 1935A 5 Mark coin (w/o Swastika) in PCGS 63 and a 1939A 2 Mark coin (w/ Swastika) in PCGS 63. He noted Hitler’s rise to prominence during the period between the issues.

Bruce S:

1891 $10 Silver Certificate – nicknamed the “Tombstone” note due to the shape of the frame around the portrait of VP Thomas A. Hendricks.

Will H: A 2004-D “Low Leaf” Wisconsin quarter.

Dave P:

A 180° rotated reverse 1989-D Congress Bicentennial Commemorative silver dollar and a 1972 Philippines Piso with a 30% curved clip.

David B:

Offered several very nice certified error coins, including a 1976 Washington quarter with clad layer missing, Die Capped tokens, 1968-S Jefferson Nickel struck on a cent planchet, and 1959-D cent 35% off center with obverse indent. He also displayed his love token carved on a $5 gold coin from the Charlotte Mint that he couldn’t find in time for last month’s show-and-tell theme!

Paul Li:

Offered a set of various error coins from 1995; 1, 5, 10 and 35-cent pieces were included.

Jim J:

Brought a 2009 Early American Coppers auction catalog and a copy of the C4 Newsletter.

Continued on Page 9

The first issue of the 10-year Am erica the Beautiful Q uarters™ Program will be released into circulation on 19 April with the official launch cerem ony to take place on 20 April in H ot Springs, Arkansas. H ot Springs N ational Park is our nation’s first federally protected area, being set aside and protected on 20 April 1832 by President Andrew Jackson. More information about the park can be found at www.nps.gov/hosp.

The image on the reverse of the Hot Springs National Park quarter depicts the façade of the Hot Springs National Park headquarters building with a fountain in the foreground. The headquarters was built in the Spanish colonial revival style and completed in 1936. The National Park Service emblem is featured to the right of the door.

Reverse of 2010 Hot Springs Quarter

Additional information about ordering America the Beautiful Quarter Program products can be found at www.usmint.gov.

First I ssue of America the Beautiful Quarters Program Set for April

April Show-and-Tell Theme

The Show-and-Tell theme for April is “Landmarks.”

To support National Coin Week, this month’s theme invites you to bring in a numismatic item that features a natural or man-made

landmark from anywhere in the world!

http://www.nps.gov/hosp

http://www.usmint.gov


Around the Web: www.smalldollars.com

Collect the small dollar coins of the US?

There’s a website devoted to your collecting interest!

www.smalldollars.com

is dedicated to Susan B. Anthony, Sacagawea, Native American and Presidential dollar coins. The site asserts that it offers “a comprehensive study of United States small size dollar coins…” From my time on the site, I certainly agree! But I’m not alone – the site has won recognition from About.com:Coins, Collector’s Weekly and CoinNews.net.

In addition to offering a fact-filled look at each series, the site also presents a look at special collectibles for each series for the collector who must “have it all!”

Even if you don’t collect the US small size dollar coins, a visit to www.smalldollars.com

is a worthwhile trip!

The Raleigh CoinHawks

– the RCC’s club for

young collectors and their parents – will be meeting once again in April at 6:45pm (prior to April’s regular RCC meeting.)

All young collectors are encouraged to attend and to bring an item or two from their collection to talk about with their fellow collectors. CoinHawk Bucks will be earned for attending the meeting and for bringing show-and-tell items.

The April meeting will feature an interactive program titled “Knowing Your Coins.” The program will help new collectors properly identify all of the various elements of a coin, as well as teach them how to properly handle the coins and paper money in their collection.

April Raleigh CoinHawks Meeting

I nformation

Meeting Minutes (cont.)

Show-and-Tell Case

Bruce S presented multiple examples of WWII-related paper money, including Yellow Seal North Africa notes, Brown Seal Hawaii notes and the Series 1935A silver certificate experimental paper notes showing a red "S" for Special paper and red "R" for regular paper. Bruce also displayed a few US-Philippines “Victory” notes.

Educational Program

Roger B presented the 1906-D Barber Dime with OverMintMark (OMM) that he discovered; the coin was featured in the Nov/ Dec 2009 issue of Hub (the publication of the National Collectors Association of Die Doubling). Roger discussed how OMMs can occur and the rarity of his “D Over O” OMM; he also offered his thoughts on how his find was created. An interesting talk!

Our monthly prize drawings followed the program and the meeting was adjourned at 9:30pm.

http://www.smalldollars.com

http://www.smalldollars.com


RCC National Coin Week

Programs at Local Raleigh Libraries

The Raleigh Coin Club will be sponsoring two area library programs in April to help support National Coin Week (April 18th – 24th).

The first program will be held on Sunday, April 18th at the North Regional Library (7009 Harps Mill Road, off Falls of Neuse Road) beginning at 2:00pm. Dave P will present “Touring America Through Coins, Medals and Paper Money.” The 45-minute talk will offer a virtual tour of some of America’s most famous natural and man-made landmarks through their illustration on US coins, medals and paper money. Items presented in the program will also be on display in the meeting room.

All RCC members and their families are invited to attend; refreshments will be available.

The RCC will also be mounting a cased exhibit at the Cameron Village Regional Library in Cameron Village. The case, near the Library’s entrance, will be set up for the month of April and will feature a number of numismatic books as well as information about the RCC.

On Saturday, April 25th, Halbert C and Jim J will attend the exhibit at the Library and will be available to answer visitors’ questions and promote the hobby.

Stop by and say “Hello!” to Halbert and Jim – they’ll be glad that you did!

Are you doing anything individually for National Coin Week? Send Dave P a note describing your activities and we’ll list your contribution to promoting the hobby in the May RCC Newsletter! -- You might even earn some NOTY points!

Show Calendar May 1-2 Southern Pines, NC

Coin & Currency Show

National Guard Armory 500 E. Morganton Road

Hours: Sat 10:00am to 6:00pm Sun 10:00am to 4:00pm

Tables: ~30. Free

Additional local show information can be found at: www.coinworld.com

1.

In keeping with the theme for National Coin Week, the Show-and-Tell theme for April is “Landmarks.” Search your collection for US or World coins, medals or bank notes featuring a natural or man-made landmark -- bring in one or more items related to the theme and earn bonus points in the 2010 Numismatist of the Year (NOTY) program!

2. As always, all Show-and-Tell items are welcome! If you don’t have something that fits the theme, bring something else! We’re always ready to see what you’ve got!

3. Dave P has reserved the monthly exhibit case for April.

4. Will H will be bringing the April meeting refreshments.

5. The Raleigh CoinHawks will be meeting at 6:45pm ahead of the regular RCC meeting.

6. Paul La and Jim J are still looking for volunteers to help with some of the activities of our annual club show. Please check with either during the April meeting to volunteer some time.

7. 2010 dues are past due! See Steve P.

Club Notes

http://www.coinworld.com

our first bimetallic commemorative coin rticlesbimetallic $10 coin the coin is available in proof...

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