The E-Sylum v7#45, November 7, 2004

[whomren at coinlibrary.com]

Welcome to The E-Sylum: Volume 7, Number 45, November 7, 2004:
an electronic publication of the Numismatic Bibliomania Society.
Copyright (c) 2004, The Numismatic Bibliomania Society.


ISSUE DELAYED DUE TO TECHNICAL DIFFICULTIES

   The current issue was delayed several hours by technical
   difficulties.  Sorry for the inconvenience - we're still here,
   although the computer is known to go into a coma now and
   then.  We'll do our best to keep The E-Sylum coming
   regardless.  -Editor.


SUBSCRIBER UPDATE

   Among recent new subscribers is George Selgin.
   Welcome aboard!  We now have 697 subscribers.


KUDOS FOR THE ANNIVERSARY ISSUE

   Past NBS President Michael J. Sullivan writes: "Hats off!
   The 25th anniversary issue is a fine compilation of content
   both in terms of depth, range and presentation.  This is
   clearly the best issue in years.  I also applaud the NBS for
   using a portion of the organization's financial resources to
   properly pack and mail the issue.  Not to mention - 25
   years is a great achievement."


LAKE LITERATURE SALE #77

   Fred Lake writes: "It is with pleasure that Lake Books
   announces that their 77th mail-bid sale of numismatic
   literature is now available for viewing on its web site at
   http://www.lakebooks.com/current.html

   The 544-lot sale contains selections from the library of
   John M. Ward, Jr. (EAC member #74) and a continuation
   of items from the library of Robert Doyle. Early American
   Copper enthusiasts will find many reference books that
   were kept in beautiful condition by John Ward.  The
   Tokens & Medals area is abundantly covered in Bob
   Doyle's consignment. In addition, you will find books and
   catalogs relating to Ancients, World, United States,
   Paper Money, Numismatic Literature, Banking Histories,
   etc.

   The sale has a closing date of December 7, 2004 at 5:00
   PM (EST) and remember to bid early as ties are won by
   the earliest bid received. You may bid via email, fax,
   telephone or US Mail. Good Luck in your bidding!"


EARLY CHARLESTON CURRENCY PLATES FOUND

   On November 2, 2004, the Charleston, NC Post and
   Courier published an article about some newly-discovered
   printing plates for early Charleston-area paper currency:

   "Charleston was running low on silver money toward the
   end of the War of 1812, so the city ordered $20,000 of
   currency printed in bills worth from 6-1/4 to 50 cents,
   bearing images of farm animals.

   This fall, 190 years after the steel plates used to print the
   bills were created, they turned up in an old safe in City Hall.
   The discovery by Charleston city employees who were
   preparing the building for a major renovation has caused a
   buzz at museums from Columbia to Washington.

   "I can't wait to see them," said Richard Doty, numismatics
   curator at the Smithsonian. "It's quite a find."

   With the printing plates was a treasure trove of financial
   artifacts from some of Charleston's darkest days.

   Another set of richly engraved plates used to make Charleston's
   city-issued currency during the Civil War was found. It bore
   images of City Hall, the Old Citadel and a slave picking cotton."

   "Nancy Phelps, director of Charleston's Record Management
   Division, has been researching the plates. She found a copy of
   the ordinance dated Oct. 3, 1814, ordering the printing of the
   oldest of the notes "to remedy the evil arising from the present
   want of change."

   To read the full article, see:
   http://www.charleston.net/stories/110204/loc_02oldmoney.shtml


MORE STORE COIN LORE

   Tom DeLorey of Harlan J. Berk, Ltd. writes: "There are still
   two leased coin shops operating in downtown Chicago, one
   in the basement of Marshall Fields on State St., and the other
   on the fifth floor of the Carson, Pirie, Scott & Co. store two
   blocks South. Without them we would be lonely, as there
   are no other coin shops in the Loop.  The high rents have
   driven everybody else out."

   Mark Borckardt writes: "As always, another enjoyable issue
   of The E-Sylum!

   I read with interest all the comments about Department Store
   Numismatics, and it seems this might make a wonderful print
   article (with a little editing), for The Numismatist.  Perhaps
   with a reference to E-Sylum in the article to boost membership.
   I am a little surprised that nobody mentioned Howard
   Newcomb and the Newcomb-Endicott Stores in Detroit.
   While not a place that current collectors would remember,
   there is no need to mention how important Newcomb was to
   collecting. I certainly don't know if those stores had a coin
   department, but the connection between this department
   store and numismatics is obvious."


MORE ON FRANK VAN ZANDT

   Dave Hirt writes: "I really enjoyed this week's  E-Sylum - I
   thought it was one of the best.    I was sorry to read of the
   death of Frank Van Zandt. I replaced him as Secretary-
   Treasurer of NBS,  and early on called him for some help
   on the new job. As we talked he seemed surprised at my
   numismatic knowledge, and for a while he called quite often.
   We often talked for an hour or more on numismatics, famous
   collectors, history, etc.  It was quite enjoyable to me.

   Some time later I was visited by agents of the Department
   of the Interior.  They were investigating trafficking in illicit
   Indian artifacts.  They had receipts of packages mailed to
   me by Frank. It turned out the receipts were for four large
   boxes of back issues of The Asylum. The last time I spoke
   with Frank was at the 2003 ANA in Baltimore.

   Also I noticed in the Numismatist the death of Charles M.
   Williams. It would seem the ANA could have written an
   obituary for someone who was a 70-year member. At one
   time Williams had a very extensive collection!  Many very
   rare coins can be traced back to his collection.  His Half
   Cents and Large Cents were sold at auction by Numismatic
   Gallery on Nov 14, 1950."


MORE ON THE CHASE MANHATTAN COLLECTION

   Fred Reed writes: "Recently there was a thread in The
   E-Sylum about the history of the Chase Manhattan Bank
   Money Collection.   I recently dug out of my storage facility
   a 36-page booklet put out by the Smithsonian Institution at
   the time it unveiled some of the treasures from that collection.
   The title of the work is "Highlights from the Money
   Collection of the Chase Manhattan Bank" by Elvira E.
   Clain-Stefanelli,  published by the National Museum of
   History and Technology, SI in 1979.

   The work was financed by Stack's and evidently designed
   by Frank Hannah.  It's loaded with photos and has a very
   lucid history of the collection and its artifacts."


NEW BRITISH TOKEN BOOK IN PROGRESS

   George Selgin writes: "I recently came across the very
   interesting NBS website.  In light of the Society's aims,
   I thought it appropriate to bring to its attention a book
   I'm in the process of completing on the subject of British
   tokens.  The (long) working title is: "GOOD MONEY:
   How Some British Button Makers Beat Gresham's Law,
   Solved the Most Urgent Economic Problem of Their Day,
   and Saved the Industrial Revolution."  It is intended to be
   the first comprehensive history of the last two British token
   episodes and their role in the birth of modern coinage.

   I've placed drafts of several chapters on my website, at
   http://www.terry.uga.edu/~selgin/
   under the heading "Private Coinage"), and would be very
   grateful to have your members and e-mail list subscribers
   alerted to them, so that they might provided me with
   feedback."


NATIONAL TREASURE: THE MOVIE

   Recent television ads have been promoting an upcoming
   film which uses a U.S. currency design as a plot device.
   Starring Nicholas Cage, the film "National Treasure" is set
   to open on November 19, 2004.  The action-adventure
   film's plot was summarized as follows on the ComingSoon
   web site:

   "Academy Award winner Nicholas Cage stars as the brilliant
   Benjamin Franklin Gates, third generation treasure hunter.
   All his life, Gates has been searching for a treasure no one
   believed existed: amassed through the ages, moved across
   continents, to become the greatest treasure the world has
   ever known. Hidden by our Founding Fathers, they left
   clues to the Treasure's location right before our eyes...
   from our nation's birthplace, to the nation's capital, to clues
   buried within the symbols on the dollar bill."

   http://www.comingsoon.net/films.php?id=5331

   The film's official web site is:
   http://nationaltreasure.movies.go.com/

   Anything that gets the general public to take a closer
   look at currency is a good thing for numismatics.  Of
   course, the film will likely spawn further cockamamie
   theories about the symbolism on the bill."


BLIND NUMISMATISTS

   Len Harsel writes: "Although I can't remember his name,
   the Alexandria, Virginia Coin Club had a blind member for
   several years before he died.  I heard that he was blinded in
   a ski accident; that would account for his knowledge.  In
   the club's auctions, he would only bid on silver dollars (I
   have always wondered if he was concerned about the
   grading since I sometimes disagreed with the grader/
   auctioneer).  So, you can never say never. "

   Tom DeLorey writes: "We do have one blind collector at
   Berk's. He picks through our foreign junk boxes by feel,
   and when he finds one he likes we put it in an envelope
   with a description on it his kids can read back to him later."

   Allan Davisson writes: "When John Barton (Owl) was alive,
   he had as a client a very active collector in the midwest who
   was blind. The man bought important coins. John explained
   that he had an assistant who worked for him but he himself
   enjoyed handling the coins. Apparently his assistant was
   knowledgeable as well--the quality and price level of
   material he purchased was not insubstantial. I recall selling
   him a set of Dalton & Hamer  tokens at one time but he
   was still primarily John's customer.  After John's untimely
   death, I did no more business with the collector."

   Gar Travis writes: "It was my understanding and perhaps
   not unknown to others that the large plaster galvanos that
   were once featured in the opening foyer of the ANA
   museum were offered as a way for those who were sight
   impaired to feel the images of coins.

   I have met several sight impaired / blind collectors - both
   as I recall who had mentioned that the "hooey" about the
   Susan B. Anthony dollar and the Washington quarter
   dollar being confusing to those with sight was surely not
   possible, all they had to do was look; as they could simply
   by feel - tell the difference.

   It's the paper money with which they had the most
   difficulty and suggested that currency perhaps be made in
   varying sizes as in Europe (at the time) and as some with
   braille, though the braille was often inadequate."


UPSETTING MACHINES

   Chris Faulkner Like many other subscribers, I've learned a
   great deal from the continuing discussion of coining technology.
   A couple of weeks ago, in the course of distinguishing between
   roller and rocker presses, Dick Johnson mentioned the
   importance of the upsetting machine in preparing suitable
   blanks for striking. This prompts two questions. I am curious
   to know when the upsetting machine was first introduced.
   Secondly, I would also like to know what other, related kinds
   of manufacturing industries might have made use of such
   technology."


THIN NUMISMATIC BOOKS

   Steve D'Ippolito writes: "I am gratified that the thick book
   /thin book contest still seems to be active.  I have what may
   be the thinnest hard bound book.   It is "Russian Gold Coins"
   by Elivra Eliza Clain-Stefanelli issued by Spink and Sons
   Ltd. in 1962.  The cover is thin cardboard but cardboard
   nonetheless, with glossy red paper as the outer layer, and
   endsheets glued to the inside surface of the cardboard --
   makes it a hardback in my book (pun intended).  The text
   is 40 pages not including the two endsheets (which are really
   part of the binding).  The whole thing seems to be about 4
   millimeters thick (just a shade over 5/32nds of an inch)."


FACTS ON THE BRENNER HANEY MEDAL

   Dick Johnson writes: "The Brenner Haney Medal has gone
   through many varieties over the years. Originally established
   in 1909 the Haney Medal was first struck by Robert Stoll
   of New York City. This was the firm Victor Brenner first
   worked for as a hand engraver when he came to this country
   in 1889 and employed by Stoll by 1892. Whether Brenner
   brought this job to Stoll in 1909 or it came to Stoll who
   commissioned Brenner we do not know. However Brenner
   traveled in the art circles of New York City, so it may have
   come to him direct. Brenner was a modeller by then (having
   learned to make a model oversize prior to 1900 in Paris
   and having the model reduced by pantographic reduction;
   he brought this technology to America that year).

   I remember seeing a six-inch galvano of the obverse of the
   Haney Medal among the works of Medallic Art Co (where
   I was director of research, 1967-1977). So at some point
   in time (prior to 1917 the job came to Medallic Art Co to
   strike the medal. The year was in raised letters (as was the
   rest of the lettering on the reverse) leaving a large reserve
   for the recipient to have his own name engraved (by his
   local jeweler, so if you see several of these named they
   will all be different engraving styles). They were bestowed
   to art students.

   Brenner was proud of this medal and exhibited it at the
   International Exhibition of Contemporary Medals at the
   American Numismatic Society in 1910 (IECM Catalog,
   Brenner number 12, page 26 ).

   In 1923 Haney’s name was added to the reverse,
   previously it was called the "School Art League of New
   York City Craftsmanship Medal" – a mouthful! After
   1923 everyone called it simply the "Haney Medal."
   Thank goodness! Wayne Homren had the correct Haney
   it was named after in last week’s E-Sylum.  It was still
   being issued when I was at Medallic Art Co in the 1970s.

   I cataloged this medal for MAco archives and gave it
   number "09-11" (for the year it was founded) although it
   was first struck by MAco between 1909 and 1917. Later
   to cut the cost of retooling the reverse die every year the
   year was simply left off the die creating the final variety.

   The description at the website quoted last week,
   contained several errors. (why amateurs should not describe
   medals – take note eBay sellers). They called it a plaque.
   No, it is smaller than eight inches -- it is a plaquette.  It
   also said the "Fabricator" was Medallic Art Co. No, no,
   no!  A fabricated medal has two parts that are soldered
   together. Call MAco the maker, manufacturer, medallist
   or "struck by," but not the fabricator for this medal.

   It is strange ANS asked to have the medal donated. They
   have one in their collections, their accession number
   1987.147.5. I sold two Haney medals in my Johnson &
   Jensen auctions, and Joe Levine has sold two as well in
   his Presidential Coin & Antique auctions, the last June 16,
   2001 (sale #69, lot 1713, where it brought $110).  Joe
   implied its rarity, stating "It could not have been awarded
   for any length of time!" It has been awarded for a long
   period of time, what is strange is that more of them have
   not come on the numismatic market.

   Perhaps it is an ideal flea market find. In worn condition
   it is a $25 medal. In better condition it can range from
   $40 to $100."


WHY COLLECT NUMISMATIC LITERATURE?

   Steve D'Ippolito writes: "I second Dick Johnson--the main
   reason to collect numismatic literature is in essence the
   content of the literature.  I have in my possession a CD-ROM
   of the Corpus of the Grand Duke Georgii Mikhailovich.  An
   original copy of this multi-volume work, which came out
   over a period of decades just before the 1917 revolution,
   will set you back at least $10K.  The subsequent French
   reprint is still well into four figures; the abbreviated French
   reprint (without the invaluable reference material--hundreds
   of pages for each reign of Emperor or Empress) set me back
   $200 when I bought it--years before the CD-ROM came out.
    I now have access to all that reference material in JPEG format
   and I now doubt I would buy the original even if I had the
   money.  Without the CD ROM, I don't think I could make that
   statement.  (I have been known to drop $500 on a single book
   when I had to, more in line with my budget, and establishing the
   principle that I will pay big bucks (by my standards) for the
   information if I have to.)  Now if only I were fluent enough in
   Russian to read the reference material...."


ANA SUMMER SEMINAR TENTATIVE SCHEDULE

   American Numismatic Association Education Director Gail
   Baker has published a tentative list of 2005 ANA Summer
   Seminar classes.  The December issue of Numismatist will
   have the registration form.

   Session I
   1) Grading United States Coins
   2) Advanced Coin Grading
   3) Intaglio Engraving
   4) Adventures in Numismatics and the Sights of
        Colorado Springs
   5) Spanish Colonial Mexican Coinage
   6) Ancient Roman Coinage
   7) The Compleat Numismatist
   8) Numismatics for the Museum Professional
   9) Numismatics of the American Revolutionary Period
   10) Women in Power
   11) Collecting U.S. Type Coins
   12) Preparing a Winning Exhibit
   13) United States National Bank Notes
   14) The Ultimate Mint Error Course
   15) Digital Photography
   16) World Paper Money

   Session I Mini-Seminars
   A) Wonderful World of MPC's 6/25-26
   B) Introduction to Crowns & Thalers 6/25-26
   C) Creating a PowerPoint Program 6/25-26
   D) Counterfeit Detection of World Paper Money 6/25-26
   E) Biblical and Judean Coins 6/25-28
   F) Judges' Certification 6/26 (AM) & 6/28 (PM)
   G) Detection of Counterfeit Gold Coins 6/27-28
   H) Collecting Broken Bank Notes and Other Obsolete
        Paper Money 6/27-28
   I) Don’t Fear the Fourth Graders 6/27-28


JAPAN'S NEW CURRENCY

   On Friday, October 29 Reuters published an article about
   new currency being released in Japan.

   "Holograms and kaleidoscopes of shimmering colors will
   be part of Japan's latest hi-tech response to the growing
   number of banknote counterfeiting cases troubling authorities.

   New banknotes will go into circulation on Monday with
   sophisticated security features and new designs as the
   central bank hopes to reverse a 25-fold rise in the number
   of forged notes discovered in the country in the past five
   years.

   "We have made these banknotes hoping they will be
   foolproof," Bank of Japan Governor Toshihiko Fukui said
   in August. Some 30,000 forged banknotes are expected
   to be found by the end of this year alone, almost double
   the 16,910 in 2003.

   The new notes -- the first major overhaul in 20 years --
   will feature holograms, watermarks and latent images,
   where the word "Nippon" (Japan) can be seen on the
   reverse when the notes are slanted at a specific angle.

   Iridescent pink ink will be used on the borders of the
   bills, and the Chinese characters for "1,000 yen" will
   appear in pink when the bill of that value is tilted a
   certain way."

   "While the Bank of Japan may have hoped the notes were
   foolproof as well as in tune with the times, however, officials
   were left red-faced earlier this month when a stolen test print
   of the new 1,000 yen bill came up for auction on an Internet
   site.

   The bill attracted a nominal bid of around $89 million before
   the auction was canceled."

   To read the full story, see:
   http://www.reuters.com/newsArticle.jhtml?storyID=6661858

   On November 2, The New York Times published an article
   on the topic.

   "For the first time in 20 years, Japan has redesigned its bank
   notes, issuing a pretty new series of bills on Monday that feature
   rabbit-ear irises, the first formal portrait of a woman on a
   Japanese bank note, and, of course, the requisite image of a
   snow-capped Mount Fuji, framed in cherry blossoms.

   Unlike the currency changes once common in South America's
   inflationary economies, no zeros were lopped off the notes of
   deflationary Japan.  With one United States dollar now worth
   106 yen, the new 1,000-yen note is worth $9.45, the new
   5,000-yen bill is worth $47.27, and the new 10,000-yen note
   is worth $94.50."

   The high cost suggests another agenda, which appears to be
   flushing out hidden money. The currency shift is an attempt to
   bring into the economy trillions of yen that Japan's elderly
   keep stashed at home.

   "The trick in Japan is to unlock the mattress money, the futon
   money," Jesper Koll, chief economist for Merrill Lynch Japan,
   said. "In Japan, coins and notes account for about 15 percent
   of national income, which compares to 6 percent in Germany
   and 3 to 3.5 percent in America."

   Until Japan's banking crisis hit a decade ago, 7 percent of the
   national income was held in cash. Now, with the banks
   increasingly stable, the government hopes to lure some of the
   $700 billion in mattress money into banks, or better yet into
   consumer spending and investments."

   "Although the old notes are to be withdrawn from circulation
   two years from now, there is no fixed date for their sunset as
   legal tender.

   Even so, Japanese authorities evidently hope that the prime
   minister's visit to the Bank of Japan will send a signal to
   people hoarding cash that they should turn in their money.
   About two-thirds of cash in Japan is held by people over 65
   years old. The act of bringing cash to a bank may prompt
   some to spend it."

   To read the full story, see:
   http://www.nytimes.com/2004/11/02/business/worldbusiness/02notes.html



FEATURED WEB SITE

   This week's featured web site is suggested by Sebastian
   Heath of the American Numismatic Society, who noted
   on the AMNUMSOC-L mailing list: "I thought readers might
   find the following site useful: http://www.coinarchives.com/ .
   It has a growing list of auction catalogs available."


  Wayne Homren
  Numismatic Bibliomania Society


  The Numismatic Bibliomania Society is a
  non-profit organization promoting numismatic
  literature.   For more information please see
  our web site at http://www.coinbooks.org/
  There is a membership application available on
  the web site.  To join, print the application and
  return it with your check to the address printed
  on the application. Membership is only $15 to
  addresses in North America, $20 elsewhere.
  For those without web access, write to W. David
  Perkins, NBS Secretary-Treasurer,
  P.O. Box 3888, Littleton, CO  80161-3888.

  For Asylum mailing address changes and other
  membership questions, contact David at this email
  address: wdperki at attglobal.net

  To submit items for publication in The E-Sylum,
  just Reply to this message, or write to the Editor
  at this address: whomren at coinlibrary.com

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   send an email message with the word "Unsubscribe"
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