BCCC BAY CITIES COIN CLUB November 2018 Volume 7 issue 9 - 1 -

The Journal November 2018 – Vol 7 Issue 9

Upcoming Meeting: November 15th & December 12th

Message from the Prez….

Hello everybody. I hope this message finds everyone healthy and in good spirits. Our club remains in good shape. Pretty good considering we are almost 75 years old! Fall is upon us and Halloween is right around the corner. Were you aware of the fact that there are what is called Halloween coins? Go here to see: https://www.google.com/search?q=halloween+coins&client=firefox-b-1&tbm=isch&tbo=u&source=univ&sa=X&ved=2ahUKEwiA8d6JkZveAhXYGTQIHSWUCVwQ7Al6BAgDEA8&biw=1567&bih=1246

And here:

https://www.bing.com/images/search?q=halloween+coins&qs=n&form=QBILPG&sp=-1&pq=halloween+coins&sc=8-15&sk=&cvid=6D8DC511EA5D4FAFAFF73AF877C0CEAE.

I especially like the Morgan with a skeleton face instead of Lady Liberty. They also have a Lincoln with a pumpkin head, and a mercury dime where liberty’s eyes are highly recessed out and her face and neck are in bone structure form. Pretty scary stuff. LOL

On Saturday, Oct. 20th, I was halfway to the Pasadena coin show when the guy I was meeting there called me and told me it was cancelled, due to some filming? I had checked their web site at 1am on the day of the event and there was no mention of a cancellation. This is not right to do to the many people who had cleared their schedules and spent in some cases over an hour driving there just to be told it was cancelled. I was not the only one disappointed that it had been cancelled. I hope that not too many of you drove there for nothing. We ended up meeting at the coin store that I had introduced my new friend to some months ago. During our meeting and lunch, he informed me that he has decided to join our club and gave me a year’s worth of dues. I would like to say welcome aboard Tony Tsuchiya! He has a busy schedule and lives pretty far from us, but will try to come to some of our meetings.

Our next meeting is on Nov. the 15th, the third Thursday due to conflicts with the room at the El Segundo Library. We also had been informed by them that they had the room booked for city meetings for every Thursday in the month of December. With that said, Richard was able to the secure the room on Wednesday, Dec. the 12th for our Dec. meeting. Thank you Richard for all your work. We can’t set up at 6 pm, but we do have the room from 6:30 pm. If you remember and for those new members, this is the meeting where we don’t have a regular meeting with auction, raffle, etc. . Instead we play Coin-O. Normally we play 6 games of Coin-O with silver prizes furnished by the club. Then the last two games we play for the tree and wreath. We may have to somewhat modify how many games we play due to losing the extra half an hour. If we do play less games, we plan on giving out one additional silver prize per each game not played. The basis for the drawings will be our attendance fobs that we normally use for attendance prizes. More on this later.

I hope to see you all at our next meeting. Be safe!

Bernie

O F F I C I A L M A I L I N G A D D R E S S : B A Y C I T I E S C O I N C L U B P . O . B O X 4 5 2 3 3 , L O S A N G E L E S , C A 9 0 0 4 5 M AI LTO : B AYC I T IE S C C @ G M AI L . C O M L I K E / F O L L O W U S O N O U R N E W F A C E B O O K P A G E : H T T P S : / / W W W . F A C E B O O K . C O M / B A Y C I T I E S C O I N C L U B

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BCCC BAY CITIES COIN CLUB November 2018 Volume 7 issue 9 - 2 -

The Journal

Extremely rare "holy grail of paper money" $1,000 note sells for $2.04 million

Wednesday, November 14, 2018

The 1890 $1,000 Treasury Note known as the “Grand Watermelon.” Long recorded as About Uncirculated and confirmed as such by PCGS, this is the finest of the seven Grand Watermelon notes known. Of the seven Grand Watermelon notes known all but three are permanently held in government collections.

BALTIMORE, MD.- Numismatic auction house Stack’s Bowers Galleries sold a very rare and valuable $1,000 bill for $2.04 million during Part III of the Joel R. Anderson Collection sale at the 2018 Winter Whitman Expo in Baltimore. Known as the “Grand Watermelon” Treasury Note, it was the first-ever paper bill to break the $1 million mark when it last sold in 2005. Grand Watermelon notes gained their famous nickname due to the distinctive large green zeros on the back of the note which bear a striking resemblance to the juicy fruit. The face design portrays Union Major General George Meade at left. Meade is best known for being the victorious commander of Union forces at the Battle of Gettysburg. Near center is an ornate 1000 die counter with floral ornaments.

The Joel R. Anderson Collection is the most valuable collection of federally-issued United States paper money to ever cross the

auction block and it is acknowledged by numismatic experts worldwide to be the best collection of its kind EVER put together.

Collectors regard the extreme detail and intricacy of the engraving of these notes as fine art one would admire at the Smithsonian

or Getty museums and, even compare them to the likes of Cezanne and Renoir masterpieces of the 18th and 19th centuries. Many

of the bills were obtained by Anderson at the finest numismatic auctions over the last 15 years as part of past iconic collections that

were the best of their kind at the time.

The Joel R. Anderson collection is also being sold at a total of four planned Stack’s Bowers auctions throughout 2018 and early

2019. Tonight’s event is the third in the series and the collection has thus far garnered $26,184,240 in sales, including $8,619,240

tonight. Stack’s Bowers expects the total Anderson offerings to continue to break record prices for the entire collection and exceed

$30 million in estimated sales for the full series of auctions.

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Joel R. Anderson is the chairman and director of the Anderson Companies, a conglomerate of corporations that includes music

distribution and publishing companies, and a well-known philanthropist. He has always been an avid numismatic collector and

thoroughly enjoyed building collections in several different series of coins and paper money.

His family also shared in “the thrill of the hunt” over the decades while building these remarkable collections. It represents years of

connoisseurship and patience by Mr. Anderson, who focused his energy on acquiring the finest and the rarest examples. Now that

his mission to build the best collection of vintage U.S. paper money has been accomplished, he feels it’s time to allow the next

generation of numismatic collectors to enjoy the rarities in his cabinet. He also wanted to be personally involved in the sale of his

collection and share this aspect of the collection process with his family and will be attending the auctions with them.

Ironically, all of this comes at a time in the history of money when credit cards and alternative crypto-currencies are the rage. And

it’s not just Americans who will bid millions for American money, but also a large following of international buyers who are some of

the wealthiest collectors in the world.

“The Grand Watermelon note is one of the rarest and most sought-after pieces of American paper currency,” said Brian Kendrella,

President, Stack’s Bowers Galleries. “This is one of only three known to exist in private collections and the finest example of its

kind.”

BCCC BAY CITIES COIN CLUB November 2018 Volume 7 issue 9 - 4 -

The Journal

Counterfeit Detection: 1877 Indian Head Cent Posted on 11/13/2018

A difference in facial expression is among the many clues this coin is fake.

Although it had only the second-lowest mintage of the Indian Head Cent series after the 1909-S, the 1877 issue is by far the rarest coin in the series today. The rarity of this issue is even greater than its low mintage suggests, and some researchers have speculated that the published figure is in error.

Reinforcing this notion is the fact that only two obverse dies for the date are known in combination with a single reverse. It would take a greater number of dies than this to produce 852,500 cents under the most ideal circumstances, and it may be that the published figure included some dated 1876 or even some reissued coins.

Due to this rarity, the 1877 Indian Head Cent is a prime target for counterfeiting, and NGC sees numerous examples per week, including the one below, which was recently submitted for grading.

Counterfeit 1877 Indian Head Cent, left, and genuine example, right Click images to enlarge.

As you can see from the photo above, the counterfeit 1877 Indian Head Cent is a poor imitation of the genuine coin. Of particular interest is the odd appearance of the lettering in the words “UNITED STATES OF AMERICA.”

BCCC BAY CITIES COIN CLUB November 2018 Volume 7 issue 9 - 5 -

The Journal

While it is crisp and easy to read on the genuine example, it almost looks as if it were applied with a stencil on the counterfeit. The thinnest parts are simply completely missing from the die. Clearly, there was some issue with the die preparation of the counterfeit that caused this odd defect, which would never be seen on a genuine US Mint product.

Additionally, note the lack of detail in the Indian’s headdress on the fake. Whereas the feathers are well-defined and easy to see on the genuine coin, they are extremely mushy on the fake. Lastly, the Indian on the forgery has an odd look on her face.

Counterfeit 1877 Indian Head Cent, left, and genuine example, right Click images to enlarge.

The reverse of the fake was executed better than the obverse, but is still quite mushy overall. Note the rounded appearance of the letters as opposed to the sharp ones on the genuine coin.

In addition, the counterfeiters left another clue that, by itself, would single this piece out for a close examination. The reverse does not have a shallow “N” in “ONE,” which is apparent on almost all business strike 1877 Indian Head Cents. Note the bottom right corner of the N and how it is not as sharp as the “N” in “CENT.”

This counterfeit 1877 Indian Head Cent might fool some less-experienced collectors. In the last three decades, NGC graders have authenticated and graded over 3,000 examples of the 1877 Indian Cent. If you are unsure of your authentication abilities, it is wise to instead buy one already graded by NGC, as it is guaranteed for both grade and authenticity.

Did you know? NGC has created a comprehensive Counterfeit Detection resource to help collectors and dealers identify counterfeit and altered coins. Visit NGCcoin.com/counterfeit.

BCCC BAY CITIES COIN CLUB November 2018 Volume 7 issue 9 - 6 -

The Journal

THANK YOU TO OUR SPONSORS

BCCC BAY CITIES COIN CLUB November 2018 Volume 7 issue 9 - 7 -

The Journal

M I N U T E S O C T O B E R 2 0 1 8

Major highlights only

Call to order was at 6:35 pm. A guest was introduced, our pledge of allegiance was performed and we immediately voted on and accepted some minor changes to our By-Laws. Copies of the new By-laws have been sent to each member.

Thanks goes out to Anthony Lynch for offering to obtain and DONATE the food for your enjoyment.

Summer picnic was discussed, Web Site development mentioned, raffle items brought in by all members no longer in effect, and George, our treasurer will bring in all of the items for the raffle for the near future.

Evan and Ann will be coordinating and helping out with our yearly officer induction dinner held in January of each year. Evan missed the last meeting and was supposed to hand out menus. We will try again in November. Please bring in some money (around $26-$28 per meal) to pay for your dinner(s).

Still planning something for our 75th anniversary. Darrin has received some initial quotes on getting some coins made. Initial response looks affordable. Ann is investigation cost of wooden nickels and encased coins.

Change in the Board of Governors meetings to the last Monday of each month with variants depending on holidays.

Volunteers for Officer positions were requested to replace your current Officers. There were no volunteers. This means that we will have the same officers as the last three or four years. If you want a viable club, everyone needs to consider making it remain viable by volunteering to help out. As your President, I am considering on traveling this next year in hopes of finding a new state to live in. That means one of you out there needs to consider replacing me. Email volunteers will be accepted. Lol

With our Secretary being out and a temporary minute taker taking notes, we did not capture who won the 50/50 raffle. We will work on improving this should there be a next time. Personally, I forget myself who won. Whoever you are, congratulations. I think they may have won around $15.

BCCC BAY CITIES COIN CLUB November 2018 Volume 7 issue 9 - 8 -

The Journal

Raffle Results

Ann Nelson – 1931-S BU nickel

Bernie Malis – 1964 BU Kennedy half dollar

Ron Brown (new member) – 1964 BU Kennedy half dollar (Ron just so happens to collect Kennedy halves)

Bill Sudduth – 1938-D Mercury Dime (did not capture grade)

Ann Nelson - !944 Mercury Dime (did not capture grade)

Ann Nelson – 1935 Indian Head or “Buffalo” nickel (did not capture grade)

Ann Nelson – 1960 MS65 (at least) proof quarter

Ann Nelson – 1878 Morgan Dollar (Graded too low at AU 55. May have been as high as Mint State 63 when compared with the next prize)

Ron Brown – 1889 Morgan (Graded by ANACS as Mint State 60)

I think Ann has set the record on most consecutive wins and most wins in one night. These are all rightful wins as she buys more raffle tickets than anyone else. If you want to improve your chances of winning, you need to buy more tickets! lol

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Fun Facts & Photos:

In 2019 the U.S. Bureau of Engraving and Printing (BEP) is scheduled to print the following number of bills:

$1 2.5 billion $2 253.6 million $5 729.6 million $10 339.2 million $20 1.5 billion $50 224 million $100 1.5 billion

Phil I.

Backstage with BigMerc on at the 42nd street play!!!

BCCC BAY CITIES COIN CLUB November 2018 Volume 7 issue 9 - 10 -

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Bernie Malis, President

Richard Navarro, Vice-President

George Gill, Treasurer

Darrin Frankel, Secretary

Steve Berenhaus, Co-Secretary

Art Winter, Membership Chairperson Scott Gobble, Events Chair & SGT of Arms

Ann Nelson, Public Relation Chair

Evan Inamura - Photographer

James Carter – Web Assistance chair

BCCC Board of Governors

Upcoming Coin SHOWS Dec 2nd, 2018

North County Coin Show

Anaheim, CA 92806

Dec 9th, 2018

Van Nuys / Verdugo Coin Show

Van Nuys, CA 91401

Dec 14th - 16th, 2018

CSNA Convention and Coin Show

Arcadia, CA 91007

Jan 6th, 2019

North County Coin Show

Anaheim, CA 92806

Jan 31st - Feb 2nd, 2019

Long Beach Coin Expo

Long Beach, CA 90802

Feb 3rd, 2019

North County Coin Show

Anaheim, CA 92806

Feb 24th, 2019

Van Nuys / Verdugo Coin Show

Van Nuys, CA 91401

Mar 9th - 10th, 2019

Buena Park Coin Show

Buena Park, CA 90620

Apr 7th, 2019

North County Coin Show

Anaheim, CA 92806