COIN
COIN NEWS June 2011 RECORD BREAKER AT MORTON & EDEN • ECONOMIC MELTDOWN IN THE 5TH CENTURY BC • FOR THE LOVE OF ALL THINGS MAUNDY
Where
money
B A N K N O T E
N E W S
talks
NEWS
I N C O R P O R A T I N G
JUNE 2011 £3.65
Record breaker at Morton & Eden IN THIS ISSUE
Vol. 48 No. 06
ECONOMIC MELTDOWN IN THE 5TH CENTURY BC How history repeats itself
FOR THE LOVE OF ALL THINGS “MAUNDY” A collector’s passion for a Royal numismatic tradition
What’s it worth? Price guide to 3d, 2d and 12d + National Bank Ltd. and Northern Bank Ltd. notes
:K\ 3D\ DQ $XFWLRQ +RXVH IRU 6HOOLQJ \RXU &ROOHFWLRQ" :KHQ \RX VHOO \RXU FRLQV RU EDQNQRWHV \RX ZDQW WKH EHVW SULFH SRVVLEOH DQG \RX ZDQW D TXLFN DQG HDV\ WUDQVDFWLRQ 7RGD\ PRVW DXFWLRQ KRXVHV FKDUJH WKH VHOOHU DQG WKHUH LV DOVR D EX\HU·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·W VRXQG OLNH WKH EHVW GHDO WR PH« ,I \RX VHOO WR &RLQFUDIW ZKHUH PRVW RI WKH %ULWLVK GHDOHUV VHOO ZH ORRN DW \RXU FRLQV DQG EDQNQRWHV DQG PDNH \RX DQ RIIHU RQ WKH VSRW :KHQ ZH DJUHH WKH SULFH DQG RI RXU RIIHUV DUH DFFHSWHG ZH SD\ \RX RXWULJKW WKHQ DQG WKHUH 1R ZDLWLQJ QR ORVLQJ MXVW D TXLFN HDV\ WUDQVDFWLRQ DQG LPPHGLDWH SD\PHQW ,W LV DV VLPSOH DV WKDW 6HOO ZKHUH WKH GHDOHUV VHOO ,PPHGLDWH SD\PHQW DQG ZH ZLOO EX\ HYHU\WKLQJ \RX KDYH IRU VDOH QR SLFNLQJ DQG FKRRVLQJ ZH ZLOO PDNH \RX DQ RIIHU RQ HYHU\WKLQJ )RU PRUH WKDQ \HDUV &RLQFUDIW KDV EHHQ GHDOLQJ ZLWK FROOHFWRUV DQG PDNLQJ FROOHFWLQJ IXQ DJDLQ :KDW FDQ \RX VHOO WR XV" ,PPHGLDWH SD\PHQW QR KDVVOH DQG QR FKDUJH
In this issue PUBLISHING FOR COLLECTORS SINCE 1983
Incorporating BANKNOTE NEWS
COIN
NEWS ISSN 0958-1391
June 2011 Volume 48 No. 06 Formerly Coin & Medal News incorporating Coins & Medals, Irish Numismatics, and Banknote News Published monthly by Token Publishing Ltd.
Available at your Newsagent, or by Annual Subscription Within UK £34.00 for 12 issues Europe and World surface mail £42.00 World airmail £52.00 Please note that Editorial, orders, subscriptions and general enquiries can ALL be contacted at the following address: Orchard House, Duchy Road, Heathpark, Honiton, Devon EX14 1YD Orders, subscriptions, etc.: Telephone: 01404 44166 Advertising enquiries: Telephone: 01404 44167 General enquiries: Telephone: 01404 46972 Fax: 01404 44788 E-mail: info@tokenpublishing.com Website: www.tokenpublishing.com Managing Editor John W. Mussell Member, British Numismatic Society, Numismatic Literary Guild, American Numismatic Association, International Banknote Society, etc. Advertising Director Carol Hartman Marketing Director Philip Mussell, BA DipM MCIM MIDM Deputy Editor Janet Webber, BA Hons Art Editor Lisa Camm-Keyte Advertising Manager Celia Dunsford Advertising Production Controller Klara Bodfish Book Publishing Coordinator Fiona Pyle Sales and Subscription Manager Alyson Thomas Executive Assistant Janis Thatcher Production Assistant Abbey Becow Accounts Controller Jackie Taylor Editorial Consultant John Pearson Andrew Printed in England by Buxton Press for Smith-Marriott Ltd, Exeter Distributed to the Newstrade by Comag Specialist, Tavistock Works, Tavistock Road, West Drayton, Middlesex, UB7 7QX
For the love of all things “Maundy”
38
Ancients 31 Economic meltdown in the
Back to basics 62 Home Care 101
Spotlight 34 The rise and fall of the Guinea
Paper facts 67 The Walrus scrip of Russian-
5th century BC How history repeats itself
An iconic coin of the Restoration
Collector’s notebook 36 Errors and faults—a study
Putting together a collection of “mistakes”
Insight 38 For the love of all things
“Maundy” A collector’s passion for a Royal numismatic tradition
Background 41 The life and times of Sweden’s
Platemoney—Part II Unravelling the complexities of a country’s coinage.
Professionals’ choice 47 The famous and unique
The gold pattern Triple Unite of Charles I
Out & about 50 La Monnaie de Paris
A fascinating tour of the iconic French Mint museum
Tokens 54 Introducing the token issues of Hungary Early and often rare issues of a trading nation
Front cover: The record-setting Islamic coin sold by Morton & Eden on April 4, 2011.
Correct “housing” for coins and banknotes
America How Alaska joined the “Union”
Banknote feature 70 Scottish forgeries to avoid or collect Examining the sophisticated efforts of the master forgers
REGULARS Editor’s Comment...............................................2 Coin news & views .......................................... 10 View of the Bay ................................................. 18 Around the World ............................................ 20 New issues coin update ................................ 22 Royal Mint Bulletin .......................................... 24 Market Scene .................................................... 27 Price guide to 2 and 3 PENCES .................. 58 Coin of the month ........................................... 60 Banknote news................................................. 65 New issues banknote update...................... 74 Price guide to NATIONAL BANK LTD............... 75 Letters . ............................................................... 83 Dealers’ lists ...................................................... 85 Fair diary ............................................................. 86 Societies diary................................................... 88 Auction diary..................................................... 88 Semi-display adverts ...................................... 89 The Web Page ................................................... 91 Classified advertising ..................................... 93
ADVERTISERS INDEX—SEE PAGE 95
COIN NEWS is © 2011 Token Publishing. All rights reserved. Reproduction in whole or in part without written permission is expressly prohibited. The views expressed by advertiser and contributors in COIN NEWS are not necessarily the opinions of the publishers. Whilst every effort has been made to ensure accuracy, neither Token Publishing nor its contributors can accept liability for errors or omissions.
Printed by the “Environmental Printer of the Year” For every magazine published, we plant a tree . . .
Coin news
1
Editor’s comment
Stretching the limits?
A
T COIN NEWS we pride ourselves on being reasonably broad in our Editorial stance—yes, we have to cover the coins that fetch over £3 million at auction, to ignore them would be silly, but we also try to ensure that we include a range of stories, features and articles on items from across the numismatic spectrum. This month, however, there was one coin-related story that we feel is stretching the bounds a little too far. It seems that a coin has been issued on behalf of the British Virgin Islands, to commemorate the 475th anniversary of the death of Anne Boleyn . . . ! Now the mints have always been known for their diverse offerings and just about every other conceivable theme has been tried and many have proved extremely popular and have become part of numismatic folklore. However, I cannot help but think this is stretching the thematic genre just a tad. Collecting along a theme has always been popular, we know that; people who would never consider themselves “coin collectors” per se would happily buy coins featuring cats, cars, fairies, rabbits, Royals, sports, etc., etc., just because that is what they are “in to”. They are the people who have the flower fairy lampshades or the cat tea towels, the Beswick figures, the commemorative mugs and all the other paraphernalia of their chosen topic and whilst we will never see them at coin shows they are as every bit a legitimate collector as someone collecting a date series of shillings or a collector accumulating as many coins from the reigns of the adoptive Emperors as he can. The “Royalty theme” which this new BVI coin is obviously designed to fit in is, clearly, a popular one too— Royal coins have always sold well and the sight of a million people lining the streets of London to be part of the recent Royal Wedding and the news that nearly two billion watched it on television, shows that the public’s appetite for all things Royal seems undiminished. But I do feel that when 475th anniversaries of deaths are commemorated, then the theme is being stretched a little thin. It isn’t only this issue of course: the Royal Mint celebrated the 100th anniversary of the end of the Victorian era back in 2001, the 450th anniversary of the accession of Elizabeth I in 2008 and in 2009 came the 500th anniversary of the accession of her father Henry VIII! One could argue that perhaps 100, 450 and 500 are more significant milestones than 475, thus giving the Royal Mint coins slightly more weight (after all where do you stop? 455 years since this, 360 years since that, 211 years since the other), but that isn’t really the point. What is important is whether or not this is a road the coin producers should be going down at all. Don’t get me wrong, I really do believe thematics has a genuine place in this hobby and there will always be a steady stream of such coins coming from the mints of the world, but I do think that when the subjects start getting a little obscure, the links to the main theme a little tenuous and the anniversaries a little less obvious, then perhaps it is time to look again at what is being produced. But then what do I know? The good people at the various mints aren’t stupid, they know their market and must believe such coins as these will sell, but I would still like to sound a note of caution. A theme can only be stretched so far. People only have so much money to spend and I do hope that we won’t start going down the route of the car manufacturers who, having run out of niches to fill, have started creating their own, with cars noone ever thought they’d want or need! Every year is an anniversary of something or other and the marketing departments at the mints could, if they so wished, create a hundred coins every year for any theme they wanted: coins commemorating the start of this thing, the death of that person, the invention of that gizmo, the marriage of that couple and so on—and such coins would sell, just as these quirky new cars have. But just because something is possible doesn’t mean it should come to pass and I for one hope that, whilst we will continue to give you as much COIN NEWS as possible from across the spectrum, the spectrum itself doesn’t become too broad. “60th anniversary of the electric toothbrush” piedfort crown anyone? JOHN W. MUSSELL Group Managing Editor
2
Coin news
www.tokenpublishing.com
June 2011
Strap
June 2011
www.tokenpublishing.com
Coin News
3
Strap
4
Coin News
www.tokenpublishing.com
June 2011
Strap
June 2011
www.tokenpublishing.com
Coin News
5
Strap
6
Coin News
www.tokenpublishing.com
June 2011
Strap
June 2011
www.tokenpublishing.com
Coin News
7
Strap
5 ,1*5$0 &2,16 (VW
/VUL`Z\JRSL 9VHK )HZZL[[ :V\[OHTW[VU :6 )< 6\Y JH[HSVN\L JVU[HPUZ [OL TVZ[ L_[LUZP]L SPZ[ VM ,UNSPZO JVPUZ `V\ ^PSS Ä UK HU`^OLYL 0M P[»Z ,UNSPZO WVZ[ (+ HUK H THPUZ[YLHT JVPU [OL JOHUJLZ HYL ^L ^PSS OH]L P[ SPZ[LK PU V\Y JH[HSVN\L >L Z[HY[LK ZLSSPUN ,UNSPZO JVPUZ HZ 9 0UNYHT *VPUZ PU HUK ^L HYL UV^ PU V\Y Ä M[LLU[O `LHY VM I\ZPULZZ >L PZZ\L H WHNL SPZ[ ZP_ [PTLZ H `LHY ,]LY` SPZ[ PZ QHT WHJRLK M\SS VM ,UNSPZO JVPUZ" OHTTLYLK HUK TPSSLK 0M `V\ ^V\SK SPRL [V IL VU V\Y THPSPUN P[»Z MYLL" HSS `V\ ULLK [V KV PZ YPUN ^YP[L VY L THPS \Z HUK `V\ ^PSS NL[ V\Y J\YYLU[ SPZ[ 0M `V\ YLJLP]LK 3PZ[ :WYPUN `V\ ^V\SK OH]L ZLLU SPZ[LK! .\PULHZ HUK -YHJ[PVUHSZ /HSM :V]LYLPNUZ :L]LU[LLU[O *LU[\Y` *YV^UZ =PJ[VYPHU /HSM *YV^UZ WYL =PJ[VYPHU :P_WLUJLZ THU` O\UKYLKZ VM *VWWLY JVPUZ PUJS\KPUN ]PY[\HSS` HSS [OL RL` KH[LZ HUK THU` L_JLZZP]LS` YHYL ]HYPL[PLZ 0U [OL OHTTLYLK ZLJ[PVU `V\ ^V\SK OH]L ZLLU THU` YHYP[PLZ PUJS\KPUN MYVT >PSSPHT Z[ HUK T\JO .VSK ;OPZ IHYLS` ZJYH[JOLZ [OL Z\YMHJL ¶ ^L PZZ\L H ]LY` L_OH\Z[P]L SPZ[" `V\ ^PSS ZLL THU` JVPUZ SPZ[LK I` \Z [OH[ `V\ ^VU»[ L]LY OH]L ZLLU SPZ[LK ILMVYL ,]LY` UL^ SPZ[ PZ WHJRLK M\SS VM UL^ TH[LYPHS >L ZLSS! ,UNSPZO 7SH[PU\T .VSK :PS]LY *VWWLY HUK )YVUaL JVPUZ 4H\UK` ZL[Z HUK VKKZ /HTTLYLK JVPUZ :PS]LY WYVVMZ 7YVVM HUK \UJPYJ\SH[LK ZL[Z +LJPTHSZ 0YPZO :JV[[PZO -VYLPNU .VSK HUK H IPN ZLSLJ[PVU VM SV[Z 8
Coin News
www.tokenpublishing.com
June 2011
Strap
(S[OV\NO HSS VM V\Y Z[VJR JHU IL ]PL^LK VUSPUL ^L KV PZZ\L H WYPU[LK JH[HSVN\L MVY [OVZL ^OV WYLMLY P[ HUK ^L HYL ]LY` OHWW` [V THPS [OPZ [V `V\·\USPRL THU` KLHSLYZ ^L KV UV[ JOHYNL MVY V\Y SPZ[Z [OL` HYL MYLL 0M `V\ JVSSLJ[ ,UNSPZO JVPUZ `V\ ULLK [V IL VU V\Y THPSPUN SPZ[ 0M `V\ KLJPKL [V I\` MYVT \Z `V\ ^PSS IL WSLHZHU[S` Z\YWYPZLK V\Y NYHKPUN PZ JVUZLY]H[P]L HUK OVULZ[ HUK ^L ZLUK V\[ TVZ[ VYKLYZ VU [OL KH` ^L YLJLP]L WH`TLU[
9PUN ^YP[L VY L THPS [V YLJLP]L V\Y J\YYLU[ SPZ[ [VKH` ;LSLWOVUL!
, THPS \Z H[!
PUMV'YPUNYHTJVPUZ JVT >YP[L [V \Z H[! 9 0UNYHT *VPUZ /VUL`Z\JRSL 9VHK :V\[OHTW[VU :6 )<
^^^ YPUNYHTJVPUZ JVT June 2011
www.tokenpublishing.com
Coin News
9
News & views UK record set at M&E
O
NE of the rarest and most highly-prized of all Islamic gold coins, the Umayyad dinar dated 105h (AD 723), struck possibly to coincide with an occasion when the Caliph himself led the Hajj pilgrimage to Mecca, sold for a record £3.7 million in a sale at specialist auctioneers Morton & Eden on April 4. The price makes it the second most expensive coin ever auctioned (the record being the 1933 Double Eagle sold by Sotheby’s in the US in July 2002 for $7,590,020) and breaks the record for the most expensive coin to be sold in the UK. The Umayyad dinar was struck from gold mined at a location owned by the Caliph himself, known on the coins as the “Mine of the Commander of the Faithful”. An additional legend which reads: “bi’lHijaz” (“in the Hejaz”), makes it the earliest Islamic coin to mention a location in the Kingdom of Saudi Arabia. It had been expected to realise £300,000–400,000, but four bidders in the saleroom sent the price spiralling ever higher. It was purchased by the British trade on behalf of a European private collector. Morton & Eden Islamic coins specialist Stephen Lloyd said: “We are absolutely thrilled and delighted with the results from this sale. We had worked very hard to promote these particular coins internationally, but the prices they have achieved have surpassed all expectations. Their success also demonstrates that sales by public auction are the only way to achieve the very highest prices for the very finest pieces”. The sale raised a total of £6,673,560, against estimates of £886,000–1.16 million. For more information on this and the other Islamic items offered in the sale visit www. mortonandeden.com.
Ending in tears
EURO SCAM
G
ERMAN detectives have uncovered a euro coin scam involving reconstituted euro coins that had been sold to China as scrap metal. The “re-assembled” one and two euro coins were then taken back into Germany and traded in at the central bank. The scam is said to have cost Germany’s Central Bank six million euros. Each year tons of damaged euro coins are taken out of circulation and sold as scrap metal. However, one and two euro coins are simply separated into their component parts before being sent to scrap metal merchants in China. Brought into the banks in bags containing up to 1,000 euro worth of damaged coins at a time, these are simply weighed rather than counted and only occasionally spot-checked. Authorities estimate the group was able to exchange 29 tons of reconstituted coins between 2007 and 2010. We would like to thank Eric Elias for bringing this story to our attention.
Flying high in the Far East
T
HERE was cause to celebrate for the Baldwin’s auction team on April 7 when their Hong Kong Coin Auction 50 had lots selling for up to 30 times estimate as prices raced away for the rarities on offer. The Baldwin/Ma Tak Wo collaboration achieved an impressive sale total of US$5,468,403, more than double the pre-sale estimate. The sale was packed full of classic pieces as well as items which far exceeded pre-sale expectations. Lot 479 (pictured), a Hupeh Province silver “Ben Shen” 20 cents, was the star of the show with its modest pre-sale estimate of US$40,000–50,000 smashed as the lot achieved an astounding US$150,000, selling to a Chinese bidder. Ian Goldbart, Managing Director of Baldwin’s commented “I am delighted to report that our April 2011 Hong Kong Coin auction was extremely well attended with over 200 bidders in the room. Live internet bidding also contributed significantly to the atmosphere with record prices being achieved for many Chinese coins. The Asian market is thriving and the Baldwin’s/ Ma Tak Wo collaboration have yet again justified our position at the forefront of Oriental Numismatics”. Prices Realised for the auction can be found online at www.baldwin.co.uk/auction-results. Baldwin’s next Hong Kong Coin Auction (No. 51–52) will be held on August 24–25, 2011.
10
Coin news
W
HEN metal-detectorist Michael Darke unearthed 840 Iron Age gold coins in a field in Dallinghoo, Suffolk, in March 2008 he had found the biggest archaeological find in Britain since 1849. However, any jubilation soon turned sour when his friend, Keith Lewis, whom he had brought in to assist him in digging up the coins, claimed he was also entitled to half of the finder’s share. As the coins were subsequently declared Treasure Trove and valued at £300,000 by the Treasure Valuation Committee the two men’s 15 year friendship came to an end over the dispute. Mr Darke maintains that he found the first nine coins, however, poor weather forced him to abandon his search until the next day. When he returned he brought Mr Lewis in to assist him as he was an experienced metal-detectorist. They took away the hoard and Mr Lewis then handed four of the coins to the Portable Antiquities Scheme without the knowledge of Mr Darke, claiming half of any finder’s reward. The dispute that followed was finally resolved in April with the Valuation Committee ruling that Mr Lewis is entitled to half the finder’s fee of £150,000. The other £150,000 will go to the farmer on whose land the hoard was found. Mr Darke has vowed to appeal against the decision.
www.tokenpublishing.com
June 2011
News & views Bullion to go
Praise for Paris
L
D
AUNCHED in December 2008, BullionSupermarket.com was conceived by founder Jon Hunt as a tool for ďŹ nding low premium bullion coins at auction. The site provides bullion coin and bar collectors with a free and easy to use on-line tool to compare the prices and most importantly, premiums, on thousands of precious metal coins and bars for sale on the world-wide web. These show weight, price and premium in an easy to view format. While precious metal prices have risen, so too have premiums on all minted bullion products, further increasing the need for collectors and investors to seek lower premiums. As well as a price comparison website, BullionSupermarket.com offers daily news features and analysis on the precious metals market. To view for yourself, simply log onto www. bullionsupermarket.com.
EALERS from across the EU took part in the PCGS Grading Week on April 11â&#x20AC;&#x201C;15 which had the added attraction of a visit by Hubert Larivière, the recently retired Chief Mint Engraver for Monnaie de Paris. Larivière served in this important position from 2003 to 2011, placing his General Engraver Masterâ&#x20AC;&#x2122;s Mark on all dies produced from mid-2003 through to 2010. After receiving a tour of the PCGS Paris facilities, he posed for a photograph with the PCGS Paris team. Many rare and intriguing coins were submitted on this occasion including a 1756 Russian 5 roubles graded MS63+ (the highest grade awarded so far given by PCGS) and an 1831 English ÂŁ2 graded PR64. To make an appointment for the next PCGS Paris Grading Week or to obtain more information, contact the Paris ofďŹ ce at info@ PCGSglobal.com or call Muriel Eymery on 33 (0) 1 40 20 09 94. For a list of PCGS Authorised Dealers in the EU, visit www.PCGS.com/dealers and click on the map to locate your country. Pictured above: PCGS Paris, April 2011: Monsieur Hubert Larivière (centre, holding coin), Muriel Eymery (second from right) and the PCGS Paris Operations Team. The 1756 Russian 5 roubles graded MS63+, the highest grade awarded thus far by PCGS.
Championsâ&#x20AC;&#x2122; CHOICE
N
RECORD SETTING RARITIES T
EW ZEALAND will be hosting the Rugby World Cup this year and to mark this exciting event a superb silver coin set has been issued. The centre piece of the set is the Rugby World Cup 2011 Webb Ellis Cup which features a 24-carat trophy in the central design with a one New Zealand dollar denomination and struck by BH Mayer. The second coin also from New Zealand and a one dollar commemorates their victory in the very ďŹ rst game held in 1987, struck by the Perth Mint. Australiaâ&#x20AC;&#x2122;s victories in 1991 and 1999 are commemorated on the third coin with a denomination of one Australian dollar and again struck by the Perth Mint. A double victory for South Africa in 1995 and 2007 is marked with the fourth coin, two rand and struck by the South African Mint. Last and by no means last is the ďŹ ve pound crown, struck by the Royal Mint to mark Englandâ&#x20AC;&#x2122;s win in 2003. Mintage of the set has been limited to 2,011. To ďŹ nd out more about this superb set contact NZ Post Ltd, Private Bag 3001, Whanganui 4540, NZ or simply go to www.nzcoins.co.nz.
HE Chicago International Coin Fair (CICF) at Rosemount, Illinois in April, saw records set by auction giant Heritage Auctions for coins from Hungary, China and Cuba. The scene stealer was a 1928 Chinese â&#x20AC;&#x153;Auto-dollarâ&#x20AC;?, year 17 KM-Y428 which realised $74,750â&#x20AC;&#x201D;a record price for this type. British and Commonwealth coins were also attracting plenty of attention, for example a Victorian Gothic crown dated 1853 exceeded expectations when it was knocked down for $28,750, a South African proof set, one of only 62 issued, made $48,875 and a William IV gold 2 mohurs from the East India Company sold for $18,400. The sale achieved over $9.6 million. Vice President of Numismatics at Heritage, Cristiano Bierrenback, commented â&#x20AC;&#x153;These results point to the continuing overall strength of the world and ancient coin marketâ&#x20AC;?. Full results along with images can be seen at www.ha.com.
&+5,6723+(5 (,0(5 3 2 %R[ /RQGRQ 1: 5) 7HO DUW#FKULVWRSKHUHLPHU FR XN ZZZ FKULVWRSKHUHLPHU FR XN $YDLODEOH GLUHFW IURP WKH DXWKRU
%5,7,6+ &200(025$7,9( 0('$/6 $1' 7+(,5 9$/8(6
%\ &KULVWRSKHU (LPHU QG (GLWLRQ 3ULFH Â&#x2026; HQWULHV LPDJHV LQ FRORXU 8. SRVWDJH SOHDVH DGG Â&#x2026;
June 2011
www.tokenpublishing.com
Coin news
11
News & views IN BRIEF
Lots to choose from
J
UNE is going to be a busy month for Fritz Rudolf Künker of Osnabruck as they have a whole week of auctions which are detailed in no less than five separate catalogues offering some 7,400 lots. Held over the week of June 20–24, the intensive week commences with catalogue no. 188 “Coins and Medals from Medieval to Modern Times” through to catalogue 192 offering “Russian Coins and Medals”. One collection, The Gerhart Rother Collection of Saxony, fills one catalogue to itself (no. 189) and is breathtaking in its presentation. As always with Künker the catalogues they produce are truly superb providing valuable reference works within themselves. For full details of the week’s sale go to www.kuenker.com or telephone 0049 541 962020. From the Gerhart Rother Collection of Saxony, a double Konventions-Taler, 1780, Dresden. Reward of Diligence. Extremely rare, FDC and estimated at 10,000 euros.
Sad loss
T
WO familiar faces have been sadly lost from the coin trade in recent weeks by the deaths of two members of the same family in a very short space of time. Martin Hewitt and his mother were both well known as they stalled out regularly at all the major fairs from London to York. Martin stoically arrived to participate in the Harrogate Spring Fair in March having just lost his mother and while there he was taken ill. He was admitted to hospital but tragically never recovered. Our thoughts go out to his friends and family in having to endure this double blow.
SIX speakers have been booked for the joint meeting of The Royal and British Numismatic Societies summer get together. Held on Saturday July 2 at the National Museum of Wales, this year’s topic is ”The Value of Money”. For further details contact Jenni Adam on 020 7601 5793 or log onto www. numismatics.org.uk. THE British Museum has published a catalogue of its Japanese Coin Collection. With a foreword by Joe Cribb the 224 page publication is available from the BM priced at £40.00. CELTIC coin specialist Chris Rudd is keeping rather busy as List no. 17 is now available. There are 16 illustrated pages of ancient British coins for sale. For your copy go to www.celticcoins. com or telephone 01263 735 007. THE latest list from John Whitmore runs to some 100 pages featuring over 8,000 tokens, medallions and coins. For your free copy contact John on 01684 540651 or email Teynham1@ aol.com. PART II of the Wa She Wong Collection of Chinese and Asian Coins will be offered by Stack’s Bowers and Ponterio on August 23–24. Consignments are still being accepted for this important sale. Go to www.stacksbowers.com or call 001 949 253 0916 for further details.
PAUL DAVIES – WE STILL NEED TO BUY – WORLD GOLD COINS MODERN BRITISH GOLD AND SILVER PROOF COINS WORLD GOLD AND SILVER PROOF SETS PLEASE CONTACT US IF YOU HAVE ANYTHING TO SELL
PAUL DAVIES
PO BOX 17, ILKLEY, WEST YORKSHIRE LS29 8TZ, ENGLAND PHONE: 01943 603116 OUR FAX NUMBER IS: 01943 816326
LIFE MEMBER
12
Coin news
Regular Exhibitor at U.K Coin Fairs www.tokenpublishing.com
June 2011
Strap
June 2011
www.tokenpublishing.com
Coin News
13
News & views 1893 PROOF ÂŁ5 SELLS FOR $11,210
A
SMALL portion of the $2,304,456 realised by ancient and world coins and world paper money at Stackâ&#x20AC;&#x2122;s Bowers and Ponterioâ&#x20AC;&#x2122;s early April Baltimore Expo sale was contributed by a delightful Victorian GB proof ÂŁ5 of 1893, S-3872. The coin had been slabbed and independently graded as Proof-64 NGC. It was a superb example that would grace any collection, which explains why the winning bidder had to pay $11,210 to take it out the door and give it a good home. Nearly 2,600 world and ancient coins and world paper lots were on offer with a ďŹ nal sale total of $13,892,475. A complete list of prices realised and lot details are available at www.stacksbowers.com. Dr Kerry Rodgers
A note from the TOP
W
HEN the New Zealand Mint sent President Barack Obama a complementary set of their Flags of America Commemorative coins, little did they expect a response let alone one direct from the President himself. The personal thank you note was signed by both the President and the First Lady, Michelle Obama. New Zealand Mint Vice President-USA Operations, Chris Kirkness, said the Mint were both delighted and surprised to receive the Presidentâ&#x20AC;&#x2122;s thanks. The three-coin set with an engraved background of the Statue of Liberty and colour illustrations of three historical United States ďŹ&#x201A;ags have a nominal value of US$1 and were produced last year by the NZ Mint in celebration of the 50th Anniversary of the redesign of the US ďŹ&#x201A;ag.
Lunch with Kerry
R
EGULAR readers of COIN NEWS will be aware of the contribution Dr Kerry Rodgers makes to the success of the magazine. He was visiting the UK in early May with partner Rebecca and found time in his busy schedule to meet for lunch with part of the Token editorial team. Kerry (seated far right) had a chance for a good catch up with Editor John Mussell, Deputy Editor Janet Webber and Director Carol Hartman (seated far left). It was certainly a good opportunity to put a face to a name for future correspondence.
5GVVKPI C 2TQHGUUKQPCN 5VCPFCTF *SYRHIH MR +IRIZE MR XLI -%42 MW E KPSFEP XVEHI FSH] JSV TVSJIWWMSREP RYQMWQEXMWXW -X LEW QIQFIVW MR GSYRXVMIW EGVSWW EPP ½ ZI GSRXMRIRXW )ZIV] GSPPIGXSV FIRI½ XW JVSQ XLI [SVO SJ XLI -%42 FIGEYWI MX IRJSVGIW XLI LMKLIWX IXLMGEP WXERHEVHW MRžžYIRGIW YIRGIW EPP XLI] FIPSRK SV RSX EPP HIEPIVW HIEPIVW [LIXLIV
[ IRGSYVEKIW VIWIEVGL VI[EVHW RI[ EYXLSVW GSQFEXW JSVKIV] TVSQSXIW MRXIVREXMSREP JVII XVEHI ERH ½ KLXW VIWXVMGXMZI PIKMWPEXMSR 1IQFIVWLMT SJ XLI -%42 MW F] IPIGXMSR SRP] ERH SRP] XLI [SVPH´W ½ RIWX RYQMWQEXMG ½ VQW KIX IPIGXIH *SV E JVII HMVIGXSV] IQEMP METRWIGVIX$GSQTYWIVZI GSQ ;LIR ]SY FY] JVSQ ER -%42 HIEPIV SV FMH EX ER -%42 EYGXMSR LSYWI ]SY GER FI WYVI SJ XLI FIWX EHZMGI XLI ½ RIWX WIVZMGI ERH ZEPYI JSV QSRI] =SY [MPP FI HIEPMRK [MXL ER I\TIVX [LS LEW E KSSH KIRIVEP ORS[PIHKI SJ RYQMWQEXMGW ERH E [SVPH[MHI VITYXEXMSR JSV MRXIKVMX] 9/ QIQFIVW %, &%0(;-2 7327 08( %HIPTLM 8IVVEGI 0SRHSR ;' 2 &. 8IP ;IF [[[ FEPH[MR GS YO '0%77-'%0 291-71%8-' +6394 9/ 3PH &SRH 7XVIIX 0SRHSR ; 7 44 8IP ;IF [[[ GRKGSMRW GSQ
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
International Association of Professional Numismatists IAPN 14
Coin news
www.tokenpublishing.com
June 2011
June 2011
www.tokenpublishing.com
Coin News
15
News & views
SPOTLIGHT T
HE 2011 Congress of the British Association of Numismatic Societies (BANS) was held at the Ramada Plaza in Southport, March 25–27, with 62 delegates attending. Proceedings began on Friday evening with the first lecture, “Argentius binio: the rise and fall of the antoninianus”, given by Chris Leather. Chris explored the case for the rehabilitation of this “poor relation” of the denarius, citing metallurgical ratios as evidence to doubt the widely-held view of a catastrophic financial crisis in the mid 3rd century. The lecture was followed by dinner and a chance to catch up and chat in the bar afterwards. After a formal welcome by the President of BANS, Dr Kevin Clancy, Saturday’s first speaker was Peter Thompson, on the topic of his recent book: The East India Company and its coins. The paper reminded delegates of the amazing voyages undertaken to open up trade to and from the East, and the difficulties faced in establishing permanent bases. The second lecture was David Holt’s “The life and times of Thomas Bushell”, which outlined the colourful lifestyle of this Stuart “Jack the lad”, who produced several of the coinages of the Civil War. Next up was an entertaining and instructive talk on “The diverse uses of tokens” by Bob Lyall, which set the pieces firmly in their historical and social context, and included a wealth of contemporary illustrations. The final lecture of the morning, the UK Numismatic Trust Lecture, was delivered by Professor David Shotter, on “The Roman conquest of Britain: the numismatic evidence”. Professor Shotter gave a magisterial overview of the history of the invasion and settlement of Britain, pulling together the different strands of literary, archaeological and coin evidence. Saturday closed with the Congress Dinner followed by the traditional auction. Sunday’s lecture programme began with Graham Dyer, on the subject of one of his predecessors at the Royal Mint, “William John Hocking (1864–1953) curator and numismatist”. Hocking, an intensely private and religious man, of great integrity and assiduousness, had not previously received the attention he deserved, and the speaker produced compelling evidence to support his inclusion amongst the great names of Mint personnel. The second paper, “Interpreting Iron Age coin distribution” was given by Ian Leins from the British Museum. He explained how our understanding of the coins, their issuers, and the areas in which they were used, had increased dramatically with the hugely-expanded (and ever-increasing) database of finds now available to researchers, rewriting much of the orthodoxy. The penultimate lecture was by Bob Thomas on “The Brussels hoard of voided cross pennies”, a cache of almost mythical status, as much for the circumstances of its purchase as its size. The speaker is one of the joint authors of a soon-to-be-published catalogue of this enormous hoard of some 145,000 English, Scottish, Irish and continental pennies, hidden c. 1265, and the audience was treated to images of a number of the more spectacular pieces. The final paper of the Congress was the Royal Numismatic Society’s Howard Linecar Memorial Lecture, given by Keith Sugden from Manchester Museum, on the topic of “Myths and monsters on ancient coins”. The speaker moved lightheartedly through a range of mythical monsters and the exploits of the heroes who slew them, copiously illustrated with some splendid specimens of Greek and Roman coins. Organised by the Ormskirk and West Lancashire Numismatic Society, the 2011 BANS Congress was declared a great success by all who attended and plans are already afoot for the 2012 Congress which will be hosted by the Wessex Numismatic Society, at the centrally-located Wessex Hotel in Bournemouth, from April 13–15. Initial details can be found on the BANS website www.coinclubs.freeserve.co.uk; for further information, contact Peter Preston-Morley at ppm@dnw.co.uk or 020 7016 1802.
16
Coin news
www.tokenpublishing.com
June 2011
Strap News & views JOHN ANDREW
RoyalHasMaundy a birthday theme HM Queen Elizabeth II and the Duke of Edinburgh with Church officials, the Yeoman of the Guard and the Maundy Children. Note the nosegays or posies being carried. Traditionally these were used to protect those carrying them from germs and the smell of the unwashed.
T
The Queen’s Bodyguard of the Yeoman of the Guard carrying the alms dishes with the purses containing the distributions past the Tomb of the Unknown Warrior. The Guard’s ceremonial dress is identical to that of the Tower Warders with the exception that the Warders (also known as Beefeaters) do not wear a shoulder belt.
As well as Maundy money, other largesse is distributed in lieu of food and clothing or cloth that historically was given to the recipients. The Maundy coins are distributed first in white leather purses with red strings, while the currency money amounting to £5.50 is distributed in red leather purses with white strings. What is now regarded as a small sum was established many years ago and has not been increased to reflect the ravages of inflation. The birthday theme was continued, as the £5 coin was a commemorative issue to mark the Duke of Edinburgh’s 90th birthday on June 9 while the 50-pence marks the 2012 Olympics to be held in London. In the days of the Queen’s grandfather and father (George V and George VI) the service was always held at Westminster Abbey. The Queen changed this by distributing the Royal Maundy in the Abbey one year and at a provincial cathedral the following one. This two-year cycle continued until 1971 when Her Majesty began to start favouring provincial venues. Indeed in the 42 years from 1971 through to 2010, the service was only held in Westminster Abbey on just five occasions, the last being in 2001. The Queen chose the Abbey for this year’s ceremony at a time when Prince William and Kate Middleton were not even engaged yet alone planning to marry in the Abbey on April 29. Two royal events at Westminster Abbey in consecutive weeks are most unusual. The Maundy service is one of the most colourful annual royal occasions. There is the Queen’s Bodyguard of the Yeoman of the Guard in their magnificent crimson and gold uniforms, the Chapel Royal Choir, the clergy in all their splendour and, of course, the Royal Family, making it a colourful pageant that the British do so well. The Maundy party carry nosegays, which were traditionally carried in days of old for two purposes: the herbs protected the carrier from germs and the sweet flowers gave relief from the proximity of the great unwashed.
The event certainly looks very traditional and indeed, it is centuries old. Its roots go back to the time of Jesus Christ. The word “Maundy” is derived from the Latin “Mandatum,” meaning “commandment”. Immediately after the Last Supper, Jesus washed the feet of his disciples. As recorded in John 13:15, He said to them, “I have set you an example: you are to do as I have done for you.” This act of humility performed by Jesus is still recalled regularly by churches in many lands. In England, the Maundy service can be traced back to the 5th century AD but today the monarch no longer wash the feet. The earliest known English Maundy ceremony at which the monarch distributed money is 1210. In this year King John (1199–1216) presented 13 silver pennies as well as clothes, a belt and a knife, to each of 13 “paupers” at Knaresborough. The first record of an English monarch to perform the pedilavium at the Maundy ceremony was Edward II (1307–27), who washed the feet of 50 poor men on March 21, 1326. In 1698 William III was the last sovereign to perform the pedilavium. For the following 233 years, the British monarchy had no direct involvement with the ceremony. From 1699 the Lord High Almoner or Sub Almoner conducted the proceedings, though periodically the reigning monarch came to observe, until 1932, when Queen Elizabeth II’s grandfather George V, decided to restore the custom of the monarchy’s participation in the ceremony and the then Princess Elizabeth watched him distribute the Royal M*aundy in 1935. Edward VIII, who abdicated before being crowned so that he could marry Wallis Simpson, distributed the Royal Maundy in 1936. King George VI distributed the Royal Maundy on seven occasions from 1937 through to 1951. Since she ascended the throne in 1952, Queen Elizabeth II has distributed the Royal Maundy on 56 occasions. She missed two of the ceremonies because of overseas tours and two because of the births of Princes Andrew and Edward.
Coin News
17
Images © Dean and Chapter of Westminster
his year’s Royal Maundy Service was a special one as it was held on April 21, Her Majesty the Queen’s 85th birthday. As usual, HM Queen Elizabeth II presented as many Maundy coins to as many elderly men and as many elderly women as she has years. This is usually taken to be the age of the monarch at his or her next birthday. Therefore, at last year’s ceremony on April 1 at Derby when the Queen was 83, Her Majesty presented 84 pence to each of 84 male and 84 female recipients. This year she presented 85 pence to the same number of men and women. It is believed this is the first occasion that the Queen has celebrated her birthday on Maundy Thursday.
A VIEW OF THE BAY
Here we take a look at some of the numerous numismatic items offered over the auction website eBay. This is just a small selection which have caught our eye. Read on and see if you agree with our reviewer (comments in italics) . . . Unless stated otherwise the descriptions are as the eBay listing written by the seller. VI British Empire & Commonwealth Games 1958 medal + box. Medal presented for lawn bowls pairs. Bronze competitor’s medal in good condition. The medal is not named. Measures 53mm in diameter. Comes in original box of issue which has the name of W. H. Maton Ltd., Cardiff on the inside. The box is a bit dirty and shows general spotting and foxing—£365. This most unusual eBay offering attracted eight bids from five bidders, if the under bidder had not entered the race with 18 seconds of the auction to run it would have sold for £109.77. An exceptional opportunity to acquire a delightful example of the extremely rare 1869 Queen Victoria bronze “bun head” penny listed in Freeman as 59 (obverse 6, reverse G) and Peck 1685 as VR (very rare), this year has to be the hardest date to find of all in the “Bun Head” series. This example has good original detail and is one of the best we have seen for a while. We would grade this example as GVF to near EF.— £570. The grading was a bit on the optimistic side as it was far from being EF and this was reflected in the price achieved, Coin Yearbook (CYB) values an example at £400 in VF and £1,250 in EF condition. Sestertius Trajan AD 98–117 RRRRRRRR. Coin to be sold as shown i.e. no return, rejection, no certificate. I guarantee the authenticity.—£510. The no return policy did not deter bidders as eight placed 12 bids, the winning bid was placed with five seconds of the auction left. The
18
Coin News
number of Rs used to indicate rarity appears to have no bearing on the actual rarity of a coin offered by this seller but the buyer is happy with the purchase. Genuine 1841 Young Head Victoria Half Crown. Well-worn but no damage and very clear date (the first one I have seen in over 40 years collecting coins).—£675. This coin was well below Fine with no detail remaining on Victoria’s portrait. As CYB values this coin at £700 in Fine condition this was a great result for the seller. It attracted a modest six bids from five bidders from a start of £499.99. Antique James I Coin Weight the Unite Sovereign 1612–19. This item is the full sovereign bearing the image of the King on the one side and the value of 22s in Roman numerals on the other and it is in remarkably good condition with amazing clarity of detail on both sides as shown.—£99. This interesting item attracted 13 bids from nine bidders and must be most desirable to collectors of such items to reach almost £100. The rare uncirculated 1804 Bank of England dollar crown.—£511. This coin which was started at £14.99 attracted an impressive 21 bids from ten bidders, the winning bid was placed with zero time of the auction left. It had been so heavily polished that it had the appearance of being chrome plated, why it was bid up so high is a mystery. For sale, an extremely rare George the V crown. With 932 ever made it is a must have for all collectors. The coin is used but still in a very good condition.—£1,250.
This must be the lowest grade 1934 crown in existence as it was in less than Fine condition. This seller sold the same coin three weeks previously for £2,100, the winner then was a zero feedback eBayer so perhaps they did not pay and it had to be re-listed. Victoria Gothic crown 1847 gVF.—£711. This coin was nowhere near the claimed grade and it was a low grade Fine which will not allow the new owner to fully appreciate the design. George III 1789 Medallion St Paul’s. A very nice medallion in its original shagreen case. I think it is solid silver with George III on one side and St Paul’s Cathedral on the other. The rim legend reads “Struck by order of the patrons of the anniversary meeting was assembled with 5,000 children on the happy event”. The assembly was to celebrate the recovery of George III from his illness. The tiny wording beneath St Paul’s reads “Deo, Opt, Max Rex Pientiss Prosalvte Rest VLM AP23 1789”. Weight 59.80g. Case and medallion in good condition. Ribbon attached slightly frayed. Diameter of medallion 5.5cm.—£216. This attractive medal looked like it had been cleaned but this did not deter four bidders from placing seven bids from a start of £49.99, the seller must have been pleased by the result. Exceptional Gothic crown 1847 in aUNC condition.—£1,917. This coin was started at the strange amount of £4 which attracted an impressive 34 bids from 13 bidders. It had an odd looking rough dusty tone but it did very well despite this.
www.tokenpublishing.com
June 2011
Strap
$XFWLRQ 1R 0D\
DW WKH &DYHQGLVK +RWHO -HUP\Q 6WUHHW 6W -DPHV·V /RQGRQ 6: < -)
:H DUH QRZ WDNLQJ FRQVLJQPHQWV IRU RXU &RLQH[ VDOH $XFWLRQ 1R RQ 2FWREHU )RU HQTXLULHV DQG FDWDORJXHV SOHDVH FRQWDFW 6W -DPHV·V $XFWLRQV .QLJKWVEULGJH &RLQV 6WHSKHQ )HQWRQ
'XNH 6WUHHW 6W -DPHV·V /RQGRQ 6: < '' 7HO )D[ ( PDLO NFRLQV#KRWPDLO FR XN ZZZ VWMDXFWLRQV FRP
June 2011
www.tokenpublishing.com
Coin News
19
Around the World
An English
Rose
IN AN AUSTRALIAN COUNTRY GARDEN DR KERRY RODGERS shows a soft spot for those amateurs on whom professional natural scientists depend . . .
Georgiana Molloy by an anonymous artist and believed painted shortly before she left Cumberland. Image Wikimedia Commons.
L
AsT October’s issue of Perth Mint’s Numismatic Post saluted one of Australia’s most dedicated and renowned but all too frequently overlooked botanists: Georgiana Molloy. Fortunately, she was remembered in 1980 when the Mint went seeking a historic figure to symbolize the Western Australian township of Augusta. it was most appropriate that Georgiana got the nod and became immortalised in silver.
received all the credit. Her collections at the Kew Herbarium and the University of Cambridge Herbarium are still attributed to him. But her reputation soon became common knowledge throughout the botanical world and she was subsequently approached to collect for at least two other botanists. However, she proved prone to bouts of ill health following each of her several pregnancies. She failed to recover following the birth of her seventh child, to die in April 1843, at the age of 38. English horticulturist George Hailes The lass was born Georgiana who had most success in growing Kennedy in Cumberland in May 1805. In her seeds, on hearing of her death her youth she became fervently religious wrote, “Not one in ten thousand to the point where she grew estranged from who go out into distant lands her family. In 1829 she married Captain John has done what she did for Molloy before the couple sailed for the Swan the Gardens of her Native River Colony in Western Australia. Here Country, and we have indeed they joined other couples in founding the as regards her specially to sub-colony of Augusta. lament, that ‘From Life’s Georgiana suffered severe culture shock rosy Chaplet, the Gems drop from her new environment. She found it away’.” utterly alien. She became desperate to return Georgiana has received to England and the familiar. She was saved scant recognition for her in December 1836 on receiving a letter from immense contributions to Captain James Mangles asking her to collect Western Australia’s flora. The botanical specimens for him. This letter and books shrub Boronia molloyae is named loaned by Mangles fired Georgiana. She threw all after her, a street bears her name in her leisure energies and time into learning botany. She collected, collated and documented a huge Canberra and there is the Georgiana Perth Mint’s silver medal struck to Molloy Anglican School in Busselton, mass of specimens. celebrate the sesquicentenniary of the Western Australia. It was fortunate For Mangles she was a godsend. Unlike founding of Augusta. (Image courtesy then that Perth Mint aptly chose her other collectors whose help he had sought, Perth Mint.) to grace the medal struck to mark the Georgiana delivered in spades. Her 150th anniversary of the founding of collections arrived, “full of pressed plants mounted and set out with delicacy and precision, and Augusta. Her portrait appears on the obverse of 250 silver carefully numbered . . . showing great evidence of care and and 1,500 bronze 38mm medals struck in 1980 (Carlisle cleanliness in the sorting”. Mangles, of course, took and 1980/14). The reverse shows the Cape Leeuwin light.
20
Coin news
www.tokenpublishing.com
June 2011
June 2011
www.tokenpublishing.com
Coin News
21
Latest issues AUSTRALIA
Theme: Famous Battles—Gallipoli Mint: Perth Mint Metal: Silver Denomination: $1 Diameter: 40.6mm Mintage: 5,000 Contact: Perth Mint, www.perthmint.com.au
CANADA
Theme: The Canadian Tulip Festival Mint: Royal Candian Mint Metal: Cupro-nickel Denomination: 25 cents Diameter: 35mm Mintage: Unlimited Contact: Royal Canadian Mint. www.mint.ca
CZECH REPUBLIC
Theme: 150th anniversary of the birth of Alfons Mucha (Czech born conductor/composer) Mint: Czech Mint Metal: Silver and cupro-nickel Denomination: 200 Crown Diameter: 31mm Mintage: 10,400 Contact: Czech National Bank, www.cnb.cz
NIUE
Theme: Ted Colson—first European to cross the Simpson Desert Mint: Produits Artistiques Metaux Precieux Metal: Cupro-nickel Denomination: $2 Diameter: 38.6mm Mintage: 2,000 Contact: Downies, Shop 5, Town Hall Square, Sydney, NSW, 2000, www.downies.com
SIERRA LEONE
Theme: Endangered primate series—the mountain gorilla Mint: Pobjoy Mint Metal: Cupro-nickel ($1), silver ($10) Denomination: $1, $10 Diameter: 38.6mm Mintage: Unlimited ($1), 10,000 ($10) Contact: Pobjoy Mint Ltd, Millennia House, Kingswood Park, Bonsor Drive, Kingswood, Surrey, KT20 6AY. www.pobjoy.com
SLOVAKIA
Theme: 900th anniversary of the Zobar Deeds (the oldest surviving documents in Slovakia) Mint: Kremnica Mint Metal: Silver and cupro-nickel Denomination: €10 Diameter: 34mm Contact: National Bank of Slovakia, Mintage: 20,000 or your favourite new issue dealer
To have your new coin issues featured on this page, please email the details to abbey@tokenpublishing.com
22
Coin news
www.tokenpublishing.com
June 2011
Strap
June 2011
www.tokenpublishing.com
Coin News
23
News & views
Bulletin
The latest news from The Royal Mint
As well as The Royal Mint’s world-class production facilities, the Llantrisant plant in south Wales also houses The Royal Mint Museum. it represents one of the most impressive numismatic collections in the world, featuring outstanding rarities alongside the currency we use everyday—serving as a true reflection of the history of the coinage in the United Kingdom and of many other countries. COiN NEWs has teamed up with the Museum to bring you an item from the collection every month.
Pattern New Zealand Threepence T
HE introduction of the New Zealand coinage in the 1930s is a tortuous story highlighting the age-old tussle in which politicians, government officials and artists have often engaged when confronted with how a nation should be represented on its coinage. The rare and beautiful pattern threepence of 1933 stands as an unassuming symbol of the struggle to ensure the designs on New Zealand’s first separate coinage appropriately represented the rich history and iconography of the country. The heraldic artist George Kruger Gray had prepared designs of the hei-tiki but use of the device was objected to on the grounds of its supposing to represent a human foetus and its being worn as a native fertility charm. The hei-tiki design was a casualty of the dialogue over the coinage changes in the 1930s but, looked at now from a distance of almost 80 years, it would have made a charming piece, fitting the size and proportions of such a small coin beautifully. A few years later, in 1940, the hei-tiki found its way onto the reverse of New Zealand halfpennies designed by Leonard Mitchell, suggesting a softening of views on the use of the well-known symbol. The Royal Mint offers limited edition, gold, silver and base metal collector coins along with a range of precious art medals and exclusive diamond jewellery. Below are a few carefully selected items from the current range.
An icon with style H
AILED as a “symbol for a nation” the latest design for the Britannia coin fuses the modern with the classic for a contemporary feel. The reverse has been designed by David Mach, RA, who wanted to reinterpret this iconic coin to represent the Britain of today. Struck in gold and silver, the new Britannia is issued in various collector versions from individual items to a four coin set containing the £100, £50, £25 and £10 in Proof quality, 22 carat gold. The obverse depicts the Ian Rank-Broadley portrait of Her Majesty the Queen. For details of the full Britannia range log onto www.royalmint.com/CNMAYB or call 0845 6088555.
London 2012—the final instalment T
HE remaining designs of the new 50p coins issued to celebrate London 2012 are featured in this month’s Bulletin. Struck from designs submitted by the general public, 29 coins have been issued depicting the sports of the Olympic and Paralympic Games. This month we feature the designs for Table Tennis, Taekwando and Volleyball. As we have now featured all of the designs and you have an idea of what to look out for, you can now aim to put together all 29 designs as a memento of this historic event—good luck! For full details of the London 2012 coin programme and their designers write to the Mint at the address below or go to their main website at www.royalmint.com. www.royalmint.com For more information on these, or any other Royal Mint products please, contact The Royal Mint, Freepost NAT23496, PO Box 500, Llantrisant, Pontyclun CF72 8YT, United Kingdom | Telephone: 0845 60 88 300 | www.royalmint.com
24
Coin news
www.tokenpublishing.com
June 2011
Strap
June 2011
www.tokenpublishing.com
Coin News
25
Strap
26
Coin news
www.tokenpublishing.com
June 2011
Market scene
One for the
Record Books
T
HE team at Morton & Eden had every excuse to pop the champagne corks on the evening of April 4, as the 81-lot auction held on that afternoon was quite something. It set so many records for a London sale it should make the Guinness Book of Records. In brief, an extremely rare dinar (left) struck from gold mined at the Caliph’s own mine sold for £3.7 million. Not only is this a record for an Islamic coin, but it is also the second highest auction price for a coin. The market for British coins has not yet reached the situation where coins are selling for seven figure sums, but there have been some very strong prices. JOHN ANDREW looks at the recent auctions.
SPINK—GENERAL SALE—MARCH 23 & 24, 2011 “I have given up being surprised”, remarked auctioneer Richard Bishop. “It’s just that sort of market—there are more buyers than sellers. We expected some coins to do well, but they did very well”, he added. So, what is no longer a surprise for Richard? The first coin he mentioned was a 1705 Queen Anne guinea. The Coin Yearbook lists an EF example at £5,500. However, the example offered at this sale was better than that. The cataloguer’s description reads, “some light flecking on obverse otherwise about as struck, with attractive deep red tone and with underlying brilliance, very rare thus”. It had been estimated at a somewhat conservative £6,000–£8,000. In a market where there are more buyers than sellers and where choice material is in demand, estimates for exceptional pieces are virtually impossible to appraise. Generally auctioneers are conservative as high estimates can put off potential bidders. Would it be reasonable for a coin such as this to sell for double the price of an EF specimen, in other words at £12,500? Some people may think that this was pushing it. The coin actually sold for £20,400 (£17,000 hammer). From the Slaney Collection sold by Spink in May 2003, on that occasion it realised a hammer price of £5,000 (with the Premium £5,750—then it was just 15 per cent). To increase from £5,750 to £20,400 in eight years would take an annual compound rate of just under 16 per cent. This ignores the selling costs of course. Needless to say, few assets have performed as well over the last eight years. Slaney acquired the coin from Baldwin’s in 1948 for £35. Adjusting this sum for inflation up to 2010 using the Retail Price Index, this would be the equivalent of £950 today. To turn £35 into £20,400 over 64 years would take an annual compound rate of return of just under 10 per cent. As has been said, compound interest is the eighth wonder of the world. The figures certainly give food for thought. A George I 1714 guinea, the “Prince Elector” type, was also offered. It is an unusual coin as it was the only denomination issued in the first year of this monarch’s reign (although his predecessor, Queen Anne, issued several denominations in that year); the portrait is unique to that year and finally the legend is also unlike any other of this reign as it includes PR (for “princeps”, from the Latin “first in time”)—its inclusion also means the overall lettering is smaller so as to fit it in. There is no doubting that the examples are sought. The Coin Yearbook lists an EF specimen at £5,500. The piece was given a top estimate of June 2011
www.tokenpublishing.com
£5,000, but it was contested to £14,400. This is a very strong price, but one rarely sees this coin in this grade. In recent sales there have been strong prices for top quality English hammered gold. Choice rarities were thin on the ground at this event, but it was interesting to see an Edward VI second period (1549–50) half sovereign sell for more than four times its low estimate as the piece is only in good fine state. Nevertheless, it is pleasing and it was contested to £4,080. Top price for a piece of hammered gold was £51,600 for an Oxford mint good very fine triple unite of 1642. The sale also included a sprinkling of tempting hammered silver and prices were strong. The first to catch my eye was a Philip and Mary 1554 shilling with absolutely superb portraits of the regal couple. The example offered at this sale was described as “pleasing good very fine, rare variety” (the legend has HIS for HISP). The coin was given a top estimate of £2,500. Such good examples are not easy to find. Lockdales offered an extremely pleasing and well-struck (undated) example in March 2009, so this piece would have fallen in Richard Bishop’s “does very well” category. At the Lockdales event there were five telephone bidders, including one from Spain. At Spink there was even fiercer competition. The hammer fell at £10,000, which is £12,000 with the Premium—an eye-watering price. At more modest levels, I noticed a cracker of a Queen Elizabeth I 1567 sixpence with the coronet mintmark. The cataloguer’s description reads, “dark tone, full flan, an exceptional example, extremely fine”. I saw a comparable 1570 example in 1968 (described as “Choice, good extremely fine” in Spink’s Numismatic Circular) and bought it for £14. The coin at this sale was given a top estimate of £350. It was contested to a hammer price of £750, which is £900 with the Premium. The nearest recent comparison I have found is another 1567 example Spink auctioned in November 2008. That piece was described as having a “full flan, good detail” and in “good very fine” state. It sold for a hammer price of £420. So although £900 for an Elizabethan sixpence may sound high, it is more than likely its correct value. The late Patrick Finn often used to remark, “coins are undervalued”—and he was right. Another hammered coin with a superb portrait came from Scotland. It was a James VI 1582 silver twenty shillings. This features the half-length crowned portrait of the monarch
Spink’s top price for a hammered gold coin was £51,600 paid for this Oxford mint triple unite of 1642.
The 1836 Russian Novodel commemorative “Family” 1½-rouble in extremely fine condition sold for £43,200.
Coin news
27
Market scene
One of only 100 Proof 25 roubles issued by Alexander II in 1876 realised £156,000.
clad in armour holding a sword before him. The cataloguer’s description reads, “fully centred, full flan, superb portrait of young king, a most attractive example, extremely fine”. It sold for £8,640, or nearly three times its top estimate. I feel sure whoever purchased it is well pleased with the acquisition. It is a very majestic coin. Top price in the sale was for a Russian proof 25 roubles issued by Alexander II in 1876. It is generally extremely fine and is extremely rare, only 100 being struck. The piece sold just below mid-estimate at £156,000. A rare “Family Rouble” of Nicholas I was also offered. This is a classic coin of the Russian 19th century series and examples are extremely rare. Technically an
1836 Novodel Commemorative 1½-rouble, it is generally in extremely fine condition. It sold for £43,200, which is 10 per cent below the lower estimate. Nevertheless, it is still a large sum. Finally, there was considerable interest in a very small group of Hungarian 15th century goldgulden and the later 16th/17th century ducats. Prices have risen over the last few years and while prices did remained “sensible” (but buoyant) at this sale, Spink could have sold the pieces 20 times over, such was the demand. Top price for one of the four goldgulden on offer was £864 for a good very fine example of Matthias Corvinus (1458–90), which is just over double the top estimate. The sale totalled £1,174,662.
LOCKDALES—COINS AND COLLECTABLES—MARCH 27, 2011
Despite a few carbon spots this 1687 crown is in EF condition and sold for £1,993.
This Suffolk auction house always seems to have interesting early English hammered and this sale was no exception. A fifth issue penny (798– 805?) of Archbishop Aethelheard struck under Coenwulf was placed on the auction block. At the centre of the obverse there is “EP” as opposed to “ep” as usually seen. This is a full, round, wellcentred coin, but there is a little edge loss from 12 to 1 o’clock on the obverse. This to one side, the piece is otherwise in very fine state. Lockdale’s was hoping for up to £2,500, but the piece sold for £1,993. An Eadmund, King of East Anglia (855– 870) silver penny was sought despite being lightly crinkled and with extreme edge loss on the obverse at 6 o’clock and the reverse being struck off-centre. It sold above estimate at £1,759, no doubt because the piece is otherwise in EF/NEF grade. Although top quality rare hammered gold has soared in value, perfectly good collectable material is still within grasp. Here a Richard II (1377–99) noble with French titles and a mintmark that could be an annulet over a sail was offered. Although lightly crinkled, the piece is well centred and is in nearly very fine/very fine state. It realised £1,876. Much more than one would have paid years back, but the sum is still not a king’s ransom.
The extent of the rise in English hammered silver is well illustrated by a Charles I shilling struck at the Oxford mint in 1642. The obverse die is from the Shrewsbury mint, but the reverse with its “Declaration” type is an Oxford die. This is a rare coin, but while the reverse is well struck, the portrait is very weak. A top estimate of £1,000 looked positively punchy. However, it sold for £1,642 (what are the odds for a coin dated 1642, selling for £1,642?). More interestingly the coin is from the Collection of Dr Burstal, whose collection was sold at Glendining’s in May 1968 when the coin was sold with two other Charles I shillings (all described as “fair”) and sold for a hammer price of £30. So, a coin that was not considered worthy to be sold alone now realises a four-figure sum. How times have changed. The British milled gold was nothing special, but there was some decent English/British silver. Top of the early pieces was a 1687 James II crown. Its flan had a multitude of minute carbon spots, but it is in extremely fine condition. It sold for £1,993, its low estimate. Star of the later milled was an 1821 proof crown. Described as “nFDC, light hairlines”, it sold for £3,518, its top estimate. The total for the sale was £288,980.
DIX NOONAN WEBB—BANKNOTES—MARCH 31, 2011
The very first Treasury £1 note ever issued and originally sold on behalf of the war effort in 1914, sold for £7,200.
28
Coin news
This sale featured the first part of a collection of Treasury Notes issued following the outbreak of World War I through to 1928. The first lot was the first Treasury £1 ever issued. Dated August 1914, it bears the serial number A0000001. It was auctioned twice in 1914 with the proceeds going to the war effort. The note was sold with a receipt dated May 21, 1968 acknowledging that a Martin Shaw had paid a Mr F. Wright £100 for the note. Spink last auctioned it in April 1994 when it sold for a hammer price of £3,100. Considering that it was treated as “special” from the very beginning, it is surprising that when it turned up in 1994 that it was in such a poor state. There are repairs on the back, pinholes on the left side and a tiny piece of the left edge is missing. These defects to one side, the note is otherwise graded as very good. It sold exactly on its lower estimate at £7,200. The joint top price for the sale was also from this collection. This was an extremely rare colour trial for a 1918 halfcrown note. Apart from a small number on the back, it is otherwise about uncirculated to uncirculated. It sold for £8,160. A rare about uncirculated proof 1918 halfcrown Treasury note sold for the same price. The first part of this collection sold for £69,516. The fifth part of the Collection of Irish Banknotes formed by the late Bob Blake was offered. Top price
here was paid for a National Bank £10 issued in March 1915. Apart from numbers and small ink splashes on the back this rarity was otherwise described as a strong good fine. It was contested to £3,120. The portion of the Blake collection sold for a total of £36,582. Top price for an Irish note was in other properties when a Bank of Ireland one guinea issued on March 9, 1803 was offered. Apart from a few tiny holes and thinning in one spot and endorsements on the back, it is otherwise in fine state. The note was contested to £5,520 (£4,600 hammer). It was last auctioned at DNW in September 2006 when it then sold for £2,300 hammer. The first part of the world paper money from the collection of the late Julian da Graca was placed on the block. Of Portuguese descent, he was born in Mozambique, educated in Rhodesia and in his mid40s, emigrated to Durban, South Africa. Both his father and grandfather were serious collectors and from them he inherited both coins and banknotes. Top price here was for an extremely fine Bank of Rhodesia and Nyasaland £5 issued in August 1958. In extremely fine state, it sold for £720. The first portion of the collection realised a total of £10,890. The sale totalled £211,956. There were 621 lots, 111 of which remained unsold, 46 vendors consigned the lots and there were 93 successful bidders. www.tokenpublishing.com
June 2011
Market scene MORTON & EDEN—ISLAMIC COINS—APRIL 4, 2011 “Lot 12 made a good price!” was quite an understatement from auctioneer Tom Eden. This 81-lot sale will be remembered for many years to come as it established new record prices for both a gold and a silver Islamic coin; a new record for a coin selling at auction in the UK; set a new record for a numismatic auction total in London and perhaps many more records as well. Lot 12 did indeed make a good price: £3.72 million to be precise, making it the second most expensive coin ever sold at auction. The record is still held by the 1933 US double eagle sold by Sotheby’s in New York during July 2002 for US$7.59 million (then about £4.8 million). The star of this auction was an Umayyad gold dinar dated 105h (AD 723). What makes this one of the rarest and most highly prized of all Islamic gold coins is that the gold from which it was struck was obtained from a mine owned by the Caliph himself. This is signified from the text in the reverse field that reads “Ma‘din Amir al-Mu ‘minin”. Although the exact significance of this is still debated, the general gist is “a mine belonging to the Caliph”. Such coins are known as “Dinars from the ‘Mine of the Commander of the Faithful’ ”. The additional words, “bi’lHijaz”, which translate as “in the Hejaz”, indicate that the mine was located in a region in the west of present-day Saudi Arabia. This is the first Islamic coin and indeed, probably the first dated object, to mention a location within the present Kingdom of Saudi Arabia. Morton & Eden’s Islamic coin specialist Stephen Lloyd told me: “The site of the mine itself has been identified as Ma`din Bani Sulaim, located northwest of the Holy City of Mecca. Gold has been mined there for thousands of years, and the site is still worked today. Remarkably, mediaeval Arab writers record that the Caliph bought a piece of land in this area, containing at least one gold mine, almost exactly when these coins were made.” But why mention the source of the metal from which it was struck? As our conversation progressed, it was clear that no one had yet come up with a definitive answer, but one could make reasoned suggestions. It could be to distinguish the Caliph’s private resources from the public treasury. But scholars have also noted a connection between the dates of these coins and the years when the Caliph personally led the pilgrimage to Mecca. He would have passed near the mine. Did he have a travelling mint to strike these dinars from the “Mine of the Commander of the Faithful”? Were the coins given as gifts, or were they used as currency on the pilgrimage? The coins are fascinating. We will probably never get the answers to all the questions that they raise. However, one thing is sure—they are extremely rare. Including the coin offered at this sale, there are believed to be 10 or 11 dated 105h, but none has appeared at public auction until this sale. Almost all of these are held in museum or institutional collections and are in good condition. An example dated 106h is rumoured to exist but, to date, it remains unpublished. Morton & Eden estimated the piece at £300,000– 400,000. There was strong interest in the piece with at least four bidders in the room, but the auction house had never dreamed that it might sell for £3.72 million. A member of the London trade purchased this extremely fine piece on June 2011
www.tokenpublishing.com
behalf of a European collection. An earlier gold dinar from the “Mine of the Commander of the Faithful” was also offered. Dated 92h, it does not bear the additional words “bi’lHijaz” (“in the Hejaz”), found on the piece dated 105h. Only one other example has appeared at public auction. That was in 1999 and it sold for £308,000. Described as having “minor marks on obverse, extremely fine”, the cataloguer estimated it at £250,000– 300,000. Including this coin, eight coins dated 91 or 92h are known. There are rumours of a similar coin dated 89h, but this has not been published. A Middle Eastern buyer purchased it for £648,000. However, lot 12 was not the only surprise in the sale as an Umayyad silver dirham struck in Oman in 90h also brought an astonishing price. Umayyad dirhams from Oman are the earliest Islamic coins struck in the Arabian Peninsula, and also the first dated objects to preserve the name Oman. Only two dates are known: 81h and 90h, and just a few specimens are recorded in total. At first sight, the calligraphy on this piece is surprising for a coin struck in Oman. By the time that it was issued, two distinct regional styles of lettering on Umayyad dirhams had developed. Mints in the East (broadly speaking Iran and Iraq) generally used a more angular style, characterised by lamalifs resembling an X with a closed base. The relatively few dirham mints active in the North and West continued the more rounded style established at Damascus, where the bottom loop of the lam-alif is less triangular and the uprights curve up towards the vertical. Interestingly, this dirham is stylistically linked with the Western rather than the Eastern group, in spite of Oman’s geographical proximity to the Iranian coast. The piece was estimated at £20,000–30,000, but sold to the same collection which had purchased the 105h dinar, for £1.08 million. This is a new record for an Islamic silver coin. However, it was not just the great rarities that generated surprises. A revolutionary period silver dirham issued by Abu Muslim at Balkh in 130h was offered. Apart from minor double striking it is otherwise in very fine state. The coin is very rare, but an estimate of £1,800–2,200 was considered reasonable. The piece sold to a private Middle Eastern buyer for £78,000. An Umayyad dirham supposedly issued at Fil in 80h (the conventional reading of this mint name, but the correct interpretation may be different) was offered in good very fine condition. This is an extremely rare coin, which was estimated at £3,500–4,000 and it sold to the same collection which purchased the 105h dinar, for £102,000. The sale totalled £6,685,800 with every lot sold.
A new record was set when this gold dinar realised £3.72 million against an estimate of £300,000– 400,000.
The silver dirham also set a record at £1.08 million.
Coin news
29
Market scene WARWICK & WARWICK—COLLECTABLES—APRIL 13, 2011
Copper penny dated 1860 over 59 realised £2,760.
This event contained 719 coin and 180 banknote lots, which is about 60 per cent of the total lots offered. However, starting in June 2011 this auction house will be offering six dedicated coin, banknote and military medal sales each year. This is an excellent move and illustrates the headway Warwick & Warwick has made as numismatic auctioneers. Congratulations to Richard Beale. Stars of this auction were at different ends of the spectrum: gold and base metal. Surprisingly, the prize for the top price goes to a copper penny. Struck in 1860 (over 59) this of course is Britain’s last copper coinage as bronze was adopted for Britain’s base coinage in that year. Catalogued as extremely fine, it was given an estimate of £1,200.
Not surprisingly, interested parties took no notice of the estimate and the piece was contested to £2,760, almost spot on the Coin Yearbook price. Another good price for a “copper“ was £1,322 paid for an 1837 penny in extremely fine condition. A bronze 1869 halfpenny described as “about uncirculated with some lustre” sold for a very respectable £1.006. Star of the gold was an 1834 half sovereign catalogued as “about uncirculated”. It sold for £1,610, which is very near to the Coin Yearbook’s price for an UNC example. A good extremely fine 1817 sovereign sold for £1,437; an extremely fine 1837 example for £1,265 and an 1835 half sovereign for £1,380. The sale (including toys, etc.) totalled £326,000.
BONHAMS—GENERAL SALE—APRIL 20, 2011
A gold aureus of Domitian showing Germania on the reverse sold for £2,233.
This was a strange sale with many bulk lots. Single coins were offered, but there was little of real interest and there were quite a few unsolds. Top price in the numismatic section of the event (the sale also included military medals and banknotes) was the £6,580 paid for two 22 carat medallions commemorating the 25th anniversary of the Evacuation of Dunkirk and another two commemorating the Landings in Normandy. The lot weighed 256.5 grams. In the ancient section, a gold aureus of Nero in about very fine state failed to find a buyer, but another of Domitian sold for £2,233. Struck at Rome in AD 90–91, it was graded as good very
fine/near extremely fine, but the cataloguer noted that it was possibly from a mount. It features Germania as a mourning captive upon its reverse. There was very little English hammered silver. A couple of the better pieces failed to sell, but a James I third coinage (1619–25) crown did find a new home at £823. It has evidence of creasing on the reverse, but overall it is good fine, possibly better in places. Among the milled coins, a George II 1734 crown in good very fine condition was contested to a very healthy £1,234. Strangely quite a few of the gold pieces failed to find buyers. However, a 2005 UK four coin gold set did sell at £1,998.
IMPORTANT NOTE: Unless otherwise stated, the above prices are inclusive of the Buyer’s Premium. In other words, they are the hammer price plus the Premium. At Dix Noonan Webb, Morton & Eden and Spink this is 20 per cent. At Bonhams it is 17.5 per cent and at Warwick & Warwick it is 15 per cent. Value Added Tax (VAT) is payable on the Premium at 20 per cent. At Lockdales, the Premium is 17.25 per cent inclusive of VAT.
30
Coin news
www.tokenpublishing.com
June 2011
Ancients ED ARCHER
Economic Meltdown in the Fifth Century BC THE RISE AND FALL OF ATHENS S
OME months ago, when the Greek economy started to collapse, I purchased a rather grotty coin which I was told was an Athenian coin of the 5th century BC (figure 1). I could scarcely believe my eyes that Athens, one of the greatest powers in the Mediterranean could have produced such a poor quality coin. Then I thought back to a visit that I had done two years previously to Syracuse in Sicily. There my wife and myself visited a quarry called Euryleus’ Ear, where 7,000 Athenian prisoners had been held after several abortive attacks on Syracuse, then everything began to click into place, as I will explain in this article. So I decided to do some research on the rise and fall of the Athenian tetradrachm. Coins contemporary with the Athenian tetradrachm. The Persians for example minted coins called sigloi in Ionia which is in modern Western Turkey. Examples of the silver sigloi are shown in figures 2 and 3. These are rather unprepossessing coins weighing about 3.50 grams and there were 20 of these to the gold daric. These coins were developed in the western part of the Persian Empire after they had conquered Croesos’s kingdom of Lydia. Lydia was the birthplace of coinage and it is interesting to see that the Persians used the Lydian currency as the inspiration for their coins Other Greek states around the Aegean did issue coins about the same time as the Athenians, principally Corinth and Aegina —examples of coins from these two states are shown in figures 4 and 5. The coins issued both from Corinth and Aegina were based on the silver stater; the Corinthian stater has Pegasus on one side and Athena on the other whereas Aegina is well known for its coins being shaped like a turtle. However, the Aeginan stater was slightly heavier than the Corinthian stater illustrating that as yet there was no attempt to have coins produced to the same standard for trading purposes. Compared with the many different types of coins in circulation at the time the Athenian tetradrachm was in a class of its own, as this article will demonstrate.
Fig. 1.
June 2011
www.tokenpublishing.com
Fig. 2.
The story of the rise of Athens as the most powerful city state in Greece goes back to the war against Persia. It was during this war that the Athenians were to make an amazing discovery that was to have profound implications for the outcome of the two wars against Persia. They discovered a hill of silver—Mount Laurion near Cape Sunion (figure 6) about 60 kilometers to the east of Athens; this fortuitous event was to the Athenians as significant as the victories over the Persians both on land and sea. The mines started to operate in 483 BC after the first Persian War which resulted in the defeat of the Persian King Darius at the battle of Marathon (as commemorated on a frieze in Darius’s palace at Susa—figure 7). Slaves were responsible for mining the silver for independent entrepreneurs who ran the mines for Athens. As the silver began to flow in the direction of Athens it was invested in the construction of a massive fleet of 200 ships. The man behind this plan was Themistocles (figure 8). He was not popular for making this decision but the investment paid off, enabling the Athenians and their allies to soundly defeat the forces of Xerxes at the battle of Salamis. Another piece of good luck for Athens was the formation of the Delian League which was formed after the second war with Persia. A large number of city states joined the League, many of them fairly small. Here Athens saw an opportunity to make money; the Athenians offered to defend the states in return for money as many could not afford ships to defend themselves. The money poured in and as the Persian threat receded, Athens saw an opportunity to benefit itself. In 454 BC the Athenian leader Pericles stole all the money out of the Treasury on the island of Delos. A considerable amount of money had been deposited at the shrine of Apollo on this tiny island in the middle of the Aegean sea. The Delians put up only token resistance to the Athenian forces led by Pericles (figure 9). This influx of silver was rapidly coined into tetradrachms (figure 10) to pay the workmen employed on the construction of Athens’ greatest glory, the Parthenon (figure 11). The tetradrachms that were minted by the Athenians at the time of the second Persian War and after were marvellous examples of the engraver’s art (figure 12). The illustrated
Fig. 3.
Fig. 4.
Fig. 5.
Coin news
31
Ancients
Fig. 6.
Fig. 7.
tetradrachm weighs about 13.4 grams and is made of high quality silver. On the obverse side there are three Greek letters which represent the start of the Greek word for Athens/ Athenai. The significance of the owl is that it is Athene’s bird. It was chosen because it represented wisdom, which was rather ironic as Athene was goddess of both Wisdom and War. War is hardly to be equated with wisdom! The final item on the obverse is an olive sprig in the corner. The olive tree (an example is shown in figure 13) is linked with the story of the struggle between Poseidon and Athene. The people of Athens gave their support to Athene as she is said to have produced an olive tree on the Acropolis. On the reverse side of the tetradrachm shown in figure 12 is a portrait of Pallas Athene. The style of the head is not the Classical style but Archaic. It was not until later in the 5th century BC that the Classical style was developed. Even despite the Archaic rendition of Athene’s portrait, the tetradrachm of Athens was one of the finest coins of its day. The Peloponnesian Wars War broke out between Sparta and Athens as part of a power struggle for the domination of Greece. Both sides had particular strengths which were to prolong the war. Sparta was the dominant military power in that it had the most effective army which had contributed to the defeat of the Persians in the land battles. Athens on the other hand had a very large fleet and it was the possession of this fleet that enabled Athens to become the richest and most powerful Greek city state at the time. The first Peloponnesian War was to last from 460 to 445 BC. In many ways this war was inconclusive as neither Sparta nor Athens was able to land that decisive blow that would settle the question of who was the winner. It was this fact that that would inevitably lead to further war and bloodshed.
Fig. 8.
Fig. 9.
The war that was to have a direct impact on the stability of the Athenian currency was the Archidamian War of 432 BC. The war is named after Archidamus II of Sparta, who decided to mount an invasion of Athenian territory; the Athenians immediately retreated behind their city walls. However, the Athenians still controlled the sea and the Spartans retreated after 40 days. Nevertheless several other factors were to lead to economic problems in this war: one was the plague and the other was Brasidas’s capture of Amphipolis. The plague was probably the worst problem as over 30,000 citizens died, including Pericles, who was an inspirational leader of the Athenians. The capture of Amphipolis was also a serious blow to the Athenians despite the best efforts of the Greek historian Thucydides to recapture it from Sparta and its allies. Amphipolis in northern Greece had two silver mines and silver was to the Ancient world what oil is to the great powers of the 21st century. Silver oiled the wheels of trade and Athens knew that. Thus the loss of Amphipolis in the Archidamian War was a severe blow to Athens though not catastrophic as the silver had not yet run out at Mount Laurion near Athens. The Athenian tetradrachm (figure 15) was still safe though the weight was slightly reduced. Fortunately for Athens the Spartans were unable to take advantage of their successes and were forced to agree to a cessation of hostilities at the peace of Nicias in 421 BC. The final crisis It was the Sicilian expedition that really caused a financial crisis for the Athenians. The Athenians got themselves dragged into a quarrel between Selinus and Syracuse on the island of Sicily. The attraction for the Athenians was that Syracuse was immensely rich and they felt that the expedition was justified
Fig. 11.
Fig. 10.
32
COIN NEWS
Fig. 12. www.tokenpublishing.com
June 2011
Ancients because of Syracuse’s alliance with Sparta. The wealth of Sicily is exemplified in the fantastic 10 drachma pieces that they produced and which are still considered to be among the finest coins ever produced (figure 15). The expedition set off in 415 BC with Alcibiades as leader but he soon deserted as he was recalled to face trial in Athens. Unfortunately the new leader, Nicias, was not up to the task of taking Syracuse, so by the year 412 BC the Athenians were forced to retreat. During the retreat the Athenian army was totally defeated and as prisoners were taken to Syracuse where they were imprisoned in a quarry where they worked as slaves. Part of the quarry is a manmade cave known as Euryleus’ Ear and many of the Greek prisoners slept there (see figure 17). However, it was after the defeat in Sicily that the Athenian financial crisis reached meltdown point. In 412 BC Alcibiades encouraged the Spartans to take the silver mines. Not only did the Spartans cut access to the mines but they also released all the slaves. As a result emergency measures were put in place and silver plated coins were issued with the core of the coin being copper—see Fig. 13. figure 16. Apparently many of these coins only survived a few weeks in circulation before the silver coating wore away. Fortunately for Athens the Spartans and their allies were disunited and unable to take advantage of the situation. The war was to drag on for another for another six years before Athens became the dominant power once more. The effects on the Athenian coinage are recounted in a play called “The Frogs” by the Greek playwright Aristophanes. The chorus in the play makes the following comment in early 405 BC, before the Athenian fleet was wiped out by Sparta and its allies at Aegospotami on September 1 of that year:
Fig. 14.
Fig. 17.
Fig. 15.
Fig. 16.
“ . . . Sparta’s allies advocated the total destruction of Athens but Sparta decided to spare the city. They did this out of recognition of Athens’ contribution during the wars against Persia . . . ” “Often it has crossed my fancy that the city’s apt to deal With the very best and noblest members of the commonweal, Just as with our ancient coinage and the fine new minted gold . These, sir, these our sterling pieces, all of pure Athenian mould, All of perfect die and metal, all the fairest of the fair, All of workmanship unequalled, proved and valued everywhere, In demand amongst Hellenes and Barbarians far away; These we use not. But the worthless pinchbeck coins of yesterday, Vilest die and basest metal, now we always use instead. Sparta’s allies advocated the total destruction of Athens but Sparta decided to spare the city. They did this out of recognition of Athens’ contribution during the wars against Persia. Athens therefore lingered on as a city state but it never regained its economic and military power, though its reputation as the cultural heart of Greece survived. If this was not enough, the silver from Laurion began to dry up. June 2011
www.tokenpublishing.com
So it was inevitable that Athens was to be no match for Philip of Macedon, father of Alexander the Great. He took over Athens after the battle of Chaeronea in 338 BC and from then on Athens lost its political power completely. However, Athens retained its position as the cultural centre of the Greek speaking world, a position that it has held to this day.
Useful Sources of Information SEAR, David, Greek Coins and their Values–Volume 1 and volume II, Seaby, 1978, reprinted 1997. SELTMAN, Charles, Greek Coins, Methuen, 1933, reprinted 1960. Thucydides–History of the Peloponnesian Wars, Folio, 2006, based on a translation by Rex Warner, 1954.
Coin news
33
Spotlight RAYMOND PALERMO
The Rise and Fall of the Guinea I
N 1659, the days of the Commonwealth of England were numbered. Richard Cromwell, the Lord Protector’s third son and successor, abdicated in May of that year. This paved the way for Charles II, the eldest son of Charles I, to land at Dover from Holland on May 25, 1660. Four days later, on his 30th birthday, Charles made a triumphant and jubilant entry into London. The Stuart monarchy had been restored. Along with the restoration of the monarchy, the methods of money manufacture were overhauled. After 1662, the old hammered method of minting money was abandoned for good in favour of the much neater screw presses. These machines enabled the production of exceptionally beautiful coins, perhaps most notably Thomas Simon’s famous Petition Crown. In 1662, the first machine-made denomination of the Restoration minted was the silver crown. Over the next few years, other values, in various metals, were introduced. This included, in 1663, the issue of one of England’s most famous gold denominations, the guinea, originally valued at 20 shillings or one pound. This article will outline the rise and fall of this coin. The initial guinea of Charles II had his laureate portrait, facing right, on the obverse and a set of crowned cruciform shields, with sceptres in the angles, on the reverse. It measured 25mm in diameter and weighed between 8.4 and 8.5 grams or around 131 29/41 grains in the Imperial measurement system. Multiples and fractions of the guinea, with appropriate changes in dimensions and weights but the same basic design, were also introduced over the next few years. These included the five guineas piece, which was first issued in 1668, the two guineas piece (from 1664) and the half guinea (from 1669). The name “guinea” was merely a nickname for the gold 20 shilling piece. It was derived from the fact that much of the gold used to make these coins was mined by the Africa Company in the Guinea region in western Africa. The badge of the Company, an elephant, appeared under the monarch’s bust on coins made from the Guinea gold. A howdah (a carriage for use on the back of an elephant) was added to the elephant badge in 1674. Most references call this symbol a “castle”, a practice that this article will follow. Within a few years of its initial issue, the guinea began to be traded at a premium, due to an increase in the price of gold. In response, the weight of the guinea was reduced to 129 39/89 grains in 1670. Gold, however, continued to rise in value. The situation reached crisis point during the reign of William and Mary (1689–94). At this time, silver coinage was struck at the rate of 5 shillings and 2 pence an ounce. However, English silver coinage was fetching 5 shillings 3½ pence on the Continent. This caused a drain of silver abroad, consequently further driving up the value of the guinea, which peaked at 28 shillings early in William III’s reign alone, following the death of Mary II in December 1694. In 1696, a great recoinage took place. This included setting up branch mints at Bristol, Chester, Exeter, Norwich and York. As well, the Mint, for a limited period, accepted all old worn coins for redemption at face value, regardless of condition. The public thus took the opportunity to clip and file their coins before trading them into the Mint. Over the next two years, the value of the guinea was gradually reduced until it reached 21shillings and 6 pence in 1698. Sir Isaac Newton, as Master of the Mint, fixed the value of the guinea at 21 shillings at which it has remained—albeit now with its decimal equivalent at one pound and five pence—ever since. During the 18th century, while the guinea’s value remained, as stated, at 21 shillings, the price of silver rose dramatically. This was exacerbated when, especially in the second half of the century, there was a shortage of silver coins being issued. These two factors put a strain on England’s
34
Coin news
bimetallic monetary system. Such a system depended on an adjustable ration between the price of gold and silver, allowing the value of a gold coin to be calculated to its equivalent in silver or vice versa. This system finally collapsed under the strain of the Napoleonic Wars, which were partly financed by Britain’s gold supplies. Thus the gold that might have been used in the issue of that metal’s coinage was not put into circulation. The demand for larger sums was relieved by the issue of banknotes instead. King Charles II In 1797 a committee headed by Lord Liverpool began a review into the sad state of monetary affairs. Liverpool recommended that the system should be overhauled. The cornerstone of this reform would be that Britain should adopt the gold standard. This would mean that gold alone would carry its standard of value. Consequently, it meant that silver values would no longer be linked to that of gold. In this way, the seeds of a token monetary system were sown. Liverpool’s recommendations were adopted in 1816 as part of one of the biggest re-coinages in British history. At this time, the gold sovereign, valued at 20 shillings, was issued, in the process superseding the guinea. Thankfully, for today’s collectors, specimens of this interesting denomination are generally available. The guinea is also remembered in the titles of many horse races and at many auctions, the latter of which use it as a value of reckoning at £1.05 pence. Sir Isaac Newton would be proud! Examples of famous guineas will be outlined in a future article. www.tokenpublishing.com
June 2011
Strap
June 2011
www.tokenpublishing.com
Coin News
35
Collector’s notebook JAMES A. WILSON
ERRORS AND FAULTS— A study W
ITH the recent discovery of the English 20 Pence coin struck from mismatched Obverse and Reverse dies, the topic of coin errors and faults comes onto the numismatic scene again. This modern example of a “Mule” may encourage some to assemble a collection based on the theme of faulty coins—an interesting suggestion that could prove enjoyable and not too costly. The photographed examples shown here have been collected over a long period of time and reflect the range of errors and faults that can occur during the various stages of coin production at British and World mints. Many can be regarded as scarce, even rare, having escaped the rigid quality control checks in force at all coin producing establishments. DIE ERROR Reverse of 1983 Peru 50 Centimo (enlarged)
Incorrect (enlarged).
First Issue Incorrect Spelling
Second Issue Correct Spelling
Correct (enlarged).
These two almost identical coins depict the Philippine Eagle with Latin name below. The first issue miss-spelling was discovered shortly after issue, and the die altered to show the correct spelling.
4. Both blanks-cum-coins are ejected together from the coin press. A similar sequence takes place in the case of an obverse brockage. This time, however, the offending blank becomes lodged on the face of the reverse die. FOREIGN OBJECT DAMAGE 1968 English 10 Pence The damage seen on the example coin was caused by a piece of metal swarf being pressed into the blank during striking. The offending item was probably taken into the coin press with the blank and ejected with the struck coin. OFF-CENTRE STRIKE USA One Cent This fault occurs when a coin blank fails to sit centrally on the lower die. As a result that portion extending beyond the edge of the die remains blank after striking, as can be seen on the partially struck example. GHOSTING 1928 English penny and 1982 English 20 pence
CLIPPED FLAN 1957 English Halfpenny The clipped edge seen on this example was once the edge of the sheet of metal from which the coin flan, or blank, was cut. Misalignment of machinery caused the cutters to overlap the edge of the metal sheet. BROCKAGE 1920 English Penny—obverse brockage A brockage is a rare minting fault resulting from a coin blank becoming jammed or wedged on either the obverse or reverse die during operation of the coin press. In the case of a brockage in which the reverse design is struck on both sides of the blank, the following stage-by-stage sequence describes how the fault occurs. 1. A coin blank enters the coin press and is struck in the normal way but becomes wedged on the obverse (usually, and in this case) upper die. 2. A second blank enters the press and rests on the reverse (lower) die. 3. The fouled obverse die now descends to strike the second blank which receives a normal in-relief image of the reverse on its lower face, and on its upper face a back-to-front incuse impression of the reverse from the wedged coin, thereby creating a brockage.
This term refers to a coin which shows the outline of its Obverse or Reverse design on its opposite side. The early issues of the English King George V bronze penny are noted for Ghosting, or outlining the King’s effigy on the Reverse. This phenomenon occurred when the metal molecules of the coin blank were compressed through extreme pressure during striking. Furthermore, the relatively bulky King’s head highrelief engraving also contributed to the flow of metal to form the Ghosting effect. The 20 pence example has also suffered slightly whereby the central rose on the Reverse design has Ghosted around the Queen’s head on the Obverse. Ghosting is not so much a fault as an unfortunate combination of the use of a coin die incorporating over-pronounced detail of high relief, and the malleable qualities of coinage metals.
A final thought—could there be a revival in checking one’s change to look for odd, faulty or even counterfeit coins? Some of us remember those far-off days when we hunted through our loose change in the hope of finding a penny dated 1950 or ’51, or an H or KN variety. Looking for coin faults today can still have its rewards and a similar kind of expectation and excitement about it. Even though some coins from another age have been used as examples in the article, the same type of fault can be found in modern coinage. In addition, the following may also be found: Misaligned Axis; Clashed or Filled Dies; Flaking Surface Metal; Incorrect Flan, or even an Occlusion! Good hunting.
36
Coin news
www.tokenpublishing.com
June 2011
Strap
June 2011
www.tokenpublishing.com
Coin news
37
Insight BILL PUGSLEY
For the Love of all things “Maundy” W
HEN Maundy Thursday is mentioned in print it conjures up different images for each reader; whether it be the Christian significance of the day, the fact that it normally precedes a long bank holiday weekend or for coin collectors the latest release of the four Maundy coins bearing the effigy of Queen Elizabeth II from when she first ascended to the throne on the obverse and the denomination under a crown on the reverse.
Maundy coins have been struck and issued since 1660 (when they were undated). Their size and the reverse has not changed since 1822 (although the composition was changed from Sterling silver to 50 per cent silver from 1921 and Sterling silver was reintroduced again from 1947). Although the coins are considered legal currency (and were ‘decimalised’ in 1971) they attract a premium that far outweighs their nominal value. Certainly until the late 1800s it was possible to find any of the four coins in circulation and thus obtaining early sets in true uncirculated condition can prove very difficult. I became aware of Maundy coins in the early 1960s (when I first started collecting coins) but it was not until I was at a Southern Californian “swap meet” in 1984 that I saw and was able to handle the first set that I subsequently bought. It was a 1901 veiled head Victorian set in a contemporary box. The coins were uncirculated but “black” (I presume from the poor quality air of that part of California at that time). Nevertheless I still treasure them. Since their original release Maundy coins have been issued nearly every year as the gift from the sovereign to a select audience of people. The first sovereign to actually participate in the “giving
ceremony” in the last 200 years was George V in 1932. The number of the coins delivered each year is in direct proportion to the age of the sovereign and they are typically delivered in up to three leather pouches (one white, one red and sometimes one green). Some years, special proof coins are issued, either for special occasions (like the release of the 1937 proof set of George VI) or as a discreet set issued for VIPs. In 2002 a set was issued in 22 carat gold with other “currency coins”, also in 22 carat gold, to mark the Golden Jubilee of Queen Elizabeth II (a maximum of these gold 2002 sets were issued). However, the connoisseur collector is not merely content with “collecting” the best of each year set. Sets in their original (or contemporary) boxes of issue will always attract a premium. There are some collectors whose sole interest is in the boxes that have been produced to hold these delightful little coins. Certainly Victorian, Edwardian and early Georgian (George V) boxes, both from the Royal Mint and specialist companies (such as Seaby’s or Spink) can sometimes attract a significant premium in their own right. Shape, size, materials, number of sets housed, all matter in addition to condition. Some of the more exotic boxes can be worth more than the coins they contain. Some collectors do not stop there. They also seek to acquire all relevant
Illustrated are just some of the collectable items related to the Royal Maundy ceremony.
38
Coin news
www.tokenpublishing.com
June 2011
Insight information and paraphernalia associated with the service. This of course includes the leather purses that contained the coins, but it also extends to original applications for attendance, acceptance letters/confirmation letters, details of attendance, attendance passes (for the Maundy recipient and their guests), and in recent years this has extended to car parking tickets and perhaps as importantly, actual programmes from the service. All of these items with the original issue of the full Maundy coins can attract significant premiums over the actual perceived value of the coins themselves. If one considers the scarcity of the 1953 Maundy set (which were the first UK coins to officially bear the image of Queen Elizabeth II), to certain collectors a programme from the service itself can be worth more than the actual coins as it is reasonable to assume that far fewer examples have survived than the actual coins. The Maundy sets for some years can be worth considerably more than others. This is because a series of different factors apply. For example, in some of the early years of Queen Victoria’s reign when the Maundy threepence was virtually identical to the circulating silver threepence, very few threepences were issued for circulation in specific years, with the result that a number of Maundy threepence coins were removed from sets for the benefit of collectors only interested in that denomination. In other years more sets were issued based upon “demand” from the public rather than the number of planned recipients or the age of the sovereign. Until 2008 for various reasons it was possible to acquire Maundy year sets (except 1953) for
most years of Queen Elizabeth II for well below £200. However, a number of changes in how coins were distributed resulted in a sudden scarcity of the later years. As a consequence it is not unusual to see sets from 2008, 2009, 2010 and probably 2011 selling for in excess of £500. Unless the Royal Mint begins issuing considerably more sets than those issued for the Maundy Service or for VIPs this trend is likely to continue. For myself, I still love my Maundy coins and still vividly remember the first set I bought (it was a warm sunny day in late November). Whether it will be joined by the latest 2011 set remains to be seen. Readers interested in learning more about the Royal Maundy are urged to read the definitive work, Silver Pennies & Linen Towels by Brian Robinson, available from Token Publishing Ltd, price £20, p&p free if ordered by the end of July 2011, quoting this article.
K. B. COINS Dealers in English Coins and Medals Excellent prices paid for single items, collections or accumulations (especially proof sets)
Are you on our Mailing List? We issue regular lists of our extensive and rapidly changing stock. We will also service your “Wants” lists
KB COINS 50 Lingfield Road, Martins Wood Stevenage, Herts SG1 5SL Telephone: 01438 312661 Fax: 01438 311990
• SEND FOR OUR LATEST CATALOGUE OF COINS FOR SALE • June 2011
www.tokenpublishing.com
Coin news
39
Insight
40
Coin News
www.tokenpublishing.com
June 2011
Insight Background
Part II
The Life & Times of
SWEDEN’S
PLATEMONEY
DR KERRY RODGERS continues his battle with 16th, 17th, 18th century Swedish numismatics . . .
I
N the first part of this article that appeared last month, the author explained how and why copper became the preferred medium for currency in Sweden in the early 17th century. This was abruptly changed when the price of copper plummeted and several different monetary systems were introduced. This month he examines the vicissitudes of the coinage and the introduction of paper money.
Third issue Stockholms Banco 50 daler silvermynt dated 26 February 1666. Only five examples are believed extant. (Image courtesy Spink.)
Four carolins of Charles XII dated 1718-LC, KM323. Adolf Frederick 1/2 daler silvermynt plate money of 1752, 100 x 85mm.
Good money, bad money To all intents and purposes, from 1624 to 1776, Sweden-Finland operated six different currencies: three based on silver [daler/riksdaler, mark/carolin, öre], two based on copper [plates, minors], and gold [ducat]. From time to time either copper or silver got the official nod as the principal currency unit. It depended on market values of the metals. Apart from the differences in fineness between the silver currencies, variations existed between the copper minors and copper plates. The 1660 devaluation of the öre had introduced small differences but these were to become significant after 1719. Before 1719 both copper minors and copper plates could be considered to contain their intrinsic metal value. After 1719 this was true only for copper plates. Significantly, Gresham’s law seldom kickedin or, at least, to any great extent. Good money June 2011
www.tokenpublishing.com
drives out bad only where there is a fixed exchange rate between the good and the bad, be that a legally defined rate or purely that of the marketplace. Thus the greenback circulated happily alongside the gold dollar in the USA in the 1860s when neither was exchangeable with the other. Any premium on good money causes it to stay in circulation. For example, in the early 1650s, the Amsterdam copper price fix was very low but the value of copper plate coins in riksdaler did not fall. Hence copper plates were worth more as money than as copper for export. In contrast, during the 18th century there was a negative premium on copper plates because of their high costs of transportation. The plates were effectively undervalued against the price of raw copper with the higher denominated copper plates exported en masse and hence disappearing
Four marks “vitt mynt” of Charles XII 4, KM337, with 1708/7 overdate.
Coin news
41
Background Charles XII holed-up in the Ottoman Empire for five years after surrendering most of his army to the Russians in 1709. When the Turks attempted to evict him in January 1713 he tripped over his spurs while trying to escape. (Image Library of Congress.)
from circulation; one reason they frequently turn up in 18th century wrecks. In 1654 Christina converted to Catholicism and abdicated. Her extravagant life-style plus the Thirty Years’ War of 1618–1648 had left her country with vast debts. The situation was not improved when her successor and cousin, Charles X, promptly declared war on Poland and Denmark. These lasting conflicts posed a serious threat to the economy. One solution was found in depreciating the copper plates. This was achieved simply by increasing the Mint’s premium [seigniorage] to 14%. One immediate consequence was an increase in the exchange rate of the ever-constant riksdaler. And then, along came banknotes.
Two of the Charles XII emergency token dalers, nödmynt, that caused a central banker to lose his head.
42
Coin news
Doing it with paper Stockholms Banco was formed in 1657. Its director, Johan Palmstruch, had once been arrested for insolvency, a matter he vigorously disputed. Large amounts of copper plates, minted under the original lower premium regime, ended up deposited at Johan’s Banco. In 1661–1664 the bank decided to clip these older plates so that the now contained the same copper equivalent as the new higher mint premium plates. In effect the Banco reaped the increased seigniorage resulting from the Mint’s debasement. The profits were enormous with half going to the Crown.
Also in 1661 Stockholm Banco began issuing paper money, backed by the deposited copper plates, in the form of kreditivsedlar [credit notes]. One reason was to resolve the on-going money shortage resulting from the increase in mint premium on plates. These notes were not the first European paper money, but kreditivsedlar are the direct ancestors of modern banknotes: they were on printed paper forms, in round denominations, and they did not specify a depositor, a deposit, nor any interest demand. The notes were payable to bearer with possession of any note sufficient to constitute a claim on the bank. Importantly, the notes were issued by an institution that operated as a central bank. Much of the copper plate money in the bank’s vaults had been deposited by customers in exchange for convenient but interest-free cashier notes and promissory notes issued by the Exchange Department. The kreditivsedlar were issued to bank customers who arrived at the bank wanting their old low premium plates back following Charles X devaluation. A Royal Decree allowed the bank to issue notes in lieu of the copper although only to persons with cash deposits in the bank. The new-fangled notes proved popular with the public. They were far more convenient than metal coins and, particular, the heavy copper plates. To help their acceptance a small premium applied to the notes relative to metal coins. At no time did the notes issued account for more than 10-20% of the total money supply and Palmstruch insisted the total of issued notes never exceeded 2.7 million daler kopparmynt. Nonetheless this amount was excessive. Importantly the rate at which the notes circulated was much greater than that of copper plates, causing speed wobbles in the money market and a dip in the notes’ value. The discounted value was never greater than 8-10%, but when the bank insisted on exchanging notes at their par value, there was a run on the bank by note holders. From 1664 through 1666 the notes became inconvertible and the Swedish Riksdag [Parliament] decided to withdraw them. This was done to their full value. Stockholms Banco was taken over by the Crown and reconstituted as the Riksbank in 1668, the first central bank in history. For the rest of the 17th century no further bank notes were issued. Palmstruch was charged with irresponsible account-keeping and with not having sufficient cash to redeem the issued notes. He was found guilty in 1668 and sentenced to loss of title, loss of banking privilege, and eternal exile or death. The government reprieved his death penalty and tossed him in the slammer instead. He died three years later at age 60. Silver swings and copper roundabouts Officially, from 1664 to 1674 silver was the principle currency, although a dual copper-silver standard persisted. Then, from 1674–1681, it was the turn of copper plates to become the official currency unit although, again, the dual-currency standard was maintained with a premium prevailing on both carolins and öre courant. In 1681 silver was again made top dog and would maintain its dominance until 1709. Copper plates now became undervalued in terms of their exchange rates against both silver and the market fix of raw copper. Consequently copper plates were exported and vanished from circulation. www.tokenpublishing.com
June 2011
Background Throughout these currency swings and roundabouts the exchange rate of the silver riksdaler remained quite stable at around 25 marks kopparmynt. Most riksdalers in circulation in the late 17th and early 18th centuries had been minted during the reign of Queen Christina. The Riksbank’s holdings of riksdaler specie stood at 134,000 in 1696 but dropped to just a few thousand by the late 1710s. From 1709 to 1766 copper again officially ruled the roost in Sweden with copper plates minted in 1710 on such a large scale as to have profound
a special commission, tried without benefit of legal assistance or the use of writing materials, condemned to death, and promptly beheaded. Riksdaler rules, OK? For many years major powers behind the Swedish Crown had been at work to bring about major long-term changes in the country’s money system. The Crown itself had a vested interest in finding a more convenient currency than copper plates and in 1701 the Riksbank had begun issuing transportsedlar [transfer notes] in lieu of plates.
“ . . . The anger grew when a rumour swept Sweden that the daler copper plates issued by the Riksbank during the war were also inferior and would be unacceptable to pay taxes . . . ” effects on the entire Swedish monetary system. One result was to stimulate the rise of fiat money in the same way the introduction of copper plates in the 1640s and 1650s had spawned Europe’s first banknotes in the 1660s. When the copper price increased in the early 1710s copper plates were again exported in bulk and a ban on their export was put in place in 1713–1714. Finally, on May 17, 1715 all copper plates were revalued by 50% and stamped accordingly. This made them more valuable as coin than as metal. “Off with his head!” The Great Nordic War ended in 1716–1719. Before war’s end the monetary system was going from bad to worse aided and abetted by the introduction of emergency token coins, nödmynt. Every token was meant to represent a given value of copper coin having a weight of 756 g but their copper contents were just 0.5-1% of their face values. Their introduction led to a new round of inflation with copper plates commanding a significant premium over tokens. This rose as high as 67% in 1719. To add to the confusion myntsedlar [coin notes or chits] were also circulated. These fell in value even more sharply than the tokens and caused widespread destitution among those at the bottom of the food chain. The tokens had been the brainchild of Georg Heinrich von Görtz, Baron of Schlitz. He was not a Swede but had ingratiated himself with Charles XII and become his Chief Minister. His token issue was comparatively modest but Charles seized upon the coins as a godsend and struck them in quantities too vast for the Riksbank to cope. When they were first issued the Government had guaranteed their value and their redemption after the war. When Charles was killed in 1718 the government did redeem them but at only 50% of their face value. The country was enraged. The anger grew when a rumour swept Sweden that the daler copper plates issued by the Riksbank during the war were also inferior and would be unacceptable to pay taxes. The nation turned its fury upon Görtz. He was hauled before June 2011
www.tokenpublishing.com
The name implied that when the notes were involved in a transaction they must be physically transported upon being assigned from an old owner to a new. This method was timeconsuming and people, many of whom were illiterate, were reluctant to attach their names to any monetary instrument, particularly given the country’s on-going monetary confusion. Although the market value of these notes was directly related to the market value of copper plates, the exchange rate of the riksdaler was now linked to the mark kopparmynt.
Frederick I riksdaler of 1727, with conjoined busts of Frederick and Ulrika Eleonora on the obverse. Christ is now gone from the reverse. (All coin images courtesy Heritage Auction Galleries.)
Georg Heinrich von Görtz, Baron of Schlitz, only central banker executed for his monetary policies. (Image Wikimedia Commons.)
Coin news
43
Background
One of the many 18th century paper issues: 24 daler kopparmynt of 1749, Riksens Standers WexelBanco. (Image courtesy Heritage Auction Galleries.)
Nonetheless the notes proved popular as the public found ways around the regulations. In 1726 the Riksbank agreed to accept them in payment for taxes. Gradually the amount of paper money increased to become the main component of circulating currency in SwedenFinland. In 1722 their amount had totalled 12,219 daler silvermynt, but by 1730 they were one million daler silvermynt, and in 1740 5.3 million daler silvermynt or about 5-6% of GDP.
The on-going major swings in parity between copper and silver and between copper and notes delayed all attempts for a comprehensive revision and simpliďŹ cation of the monetary system. It was not until 1776 that Swedenâ&#x20AC;&#x2122;s Government managed to grasp the nettle and initiate long overdue reforms. A mono-metallic silver specie standard was re-established with the riksdaler made the sole unit of account - apart from the gold ducat. The stability of the riksdaler had long made it the preferred medium of exchange with large numbers minted from 1766 to 1776. The old medieval division into marks, Ăśre and penningar was abolished and one riksdaler divided into 48 skillings, and one skilling into 12 runstycken. With the elimination of the dual coppersilver standard, the associated multi-faceted accounting of kopparmynt, silvermynt, Ăśre courant and carolins were also swept away. All existing copper coins were halved in value and copper plates treated purely as commodities. After 130 years plĂĽtmynt were no more. Further suggested reading EDVINSSON, Rodney, â&#x20AC;&#x153;The multiple currencies of Sweden-Finland 1534â&#x20AC;&#x201C;1803â&#x20AC;?. Stockholm Papers in Economic History No. 7, Department of Economic History, Stockholm University, 2009. WISĂ&#x2030;HN, I., â&#x20AC;&#x153;Swedenâ&#x20AC;&#x2122;s Stockholm Banco and the ďŹ rst European Banknotesâ&#x20AC;?, in Hewitt, V., The Bankerâ&#x20AC;&#x2122;s Art. Studies in Paper Money, London, British Museum Press, 1995.
&DPEULGJH &RLQV
Xe[ A\n\cc\ip
;I LEZI E KVIEX WIPIGXMSR SJ GSMRW QIHEPW ERH XSOIRW EZEMPEFPI
3TIR ;IHRIWHE] XS 7EXYVHE] EQ XS TQ .YWX ZMWMX SYV [IF WMXI [[[ GEQFVMHKIGSMRW GS YO KMZI YW E GEPP Š SV Š (VST YW ER I QEMP Š SV Š :MWMX YW EX XLI ;EOI½ IPH SV &MVQMRKLEQ JEMVW Š SV Š &)78 SJ EPP Š ZMWMX YW EX SYV WLST ,MKL 7XVIIX %LJJOHVZDGH &IHW 7+ 0. 4LSRI 1SFMPI I QEMP WLST$GEQFVMHKIGSMRW GS YO
44
COIN NEWS
www.tokenpublishing.com
June 2011
June 2011
www.tokenpublishing.com
Coin News
45
FOR QUALITY
R O D E R I C K R I C H A R D S ON N U M I S MAT I S T
(Specialist pecialist in Eng English ngli lish sh H Ham Hammered amme mere red d an aand d Early Mille Milled)
WANTED: BRITISH HAMMERED GOLD AND SILVER For Appointments or for my very latest Circular, please contact me at
The Old Granary Antiques Centre, King’s Staithe Lane, King’s Lynn, Norfolk Tel: 01553 670833 Web site: www.roderickrichardson.com E-mail: roderickrichardson@yahoo.co.uk
46
Coin News
www.tokenpublishing.com
June 2011
Professionals’ choice
This article is the first in an occasional series submitted by members of the International Association of Professional Numismatists (IAPN). It is planned to bring a number of numismatic gems to the attention of our readers in future issues.
The famous and unique Gold Pattern Triple Unite of Charles I
A
CQUIRED privately by A. H. Baldwin and Sons Ltd circa 1930, this unique piece was first publicly mentioned in the proceedings of the Royal Numismatic Society in 1932 (Numismatic Chronicle 1932, Volume 12, 5th Series, Proceedings chapter, page 14), when Mr A. H. F. Baldwin brought this coin to the meeting of May 19, 1932. The piece was displayed with a group of coins and medals depicting the work of Thomas Simon and Simon De Passe for further discussion. It was later fully published and illustrated in an article in the British Numismatic Journal, Volume XXIII of 1939, page 363, ”Miscellanea, A Milled Gold-Pattern £3 piece of Charles I” by C. A. Whitton, where Baldwin is acknowledged for the illustration and the opportunity to publish it.
Whitton refers to an article written by Miss Helen Farquhar for the British Numismatic Journal, Volume V, in 1908. In this article she conjectured that such a coin should exist; as she had found documentary evidence dating from 1625 when Abraham Van Der Dort was appointed Medallist to Charles I, planning a set of high relief patterns for the pound, £3 and £5 coins. The mint mark plume dates these pieces to circa 1630 and therefore attributes the high relief engraving to Abraham Van Der Dort, though this was not formalised in writing until the rest of Miss Farquhar’s notes were written up for a detailed article by Derek F. Allen in the Numismatic Chronicle 1941–43, page 54 (Volumes 1–3 of the 6th series). The coin did not appear in print or the public domain again until the production of English Pattern Trial and Proof Coins in Gold 1547–1968 by Alex Wilson and Mark Rasmussen, published in 2000, where it is listed unique as number 20. All associated faults to this coin’s condition occurred as a result of armed robbery at Baldwins in 1974 in which this coin was stolen and later recovered. June 2011
www.tokenpublishing.com
THE COIN Charles I (1625–49), Gold Pattern Triple Unite, undated, struck in high relief by Abraham Van Der Dort, 38.5mm diameter, 27.200g, struck en médaille. Obverse: Crowned, draped and cuirassed bust left with falling lace collar, within wire line and beaded circle, cross on crown breaks circle, double-arched crown with frosted caul, with diamond and pellet band, mint mark plume without bands (1630–31), legend .CAROLVS . D ; G ; MAG ; BRIT ; FR ; ET ; HIB ; REX. (Charles by the Grace of God, King of Great Britain, France and Ireland), die flaw in R of FR, double-struck at D G MAG, F and T of ET double-entered, wire-line circle surrounding, toothed border. Reverse: Crowned oval garnished shield of quartered arms, with quartered English and French arms in first and third quarters, Scottish lion in second quarter, Irish harp in fourth quarter, C in field to left, R in field to right, legend : FLORENT . CONCORDIA . REGNA . (Kingdoms flourish by concord), mint mark plume with bands, toothed border surrounding. Edge: Plain.
Coin news
47
Professionals’ choice The story behind the Engraver Referring to the Numismatic Chronicle article of 1941 (pages 54–75) written by Derek F. Allen based on Helen Farquhar’s notes, a much clearer picture of Abraham Van Der Dort’s life can be ascertained. Abraham Van Der Dort was ultimately Curator of Charles I’s various collections, although he had an earlier career as a medallist, but unfortunately most of his work is unidentified. He was a member of a Dutch family of craftsmen, but it is not known when or where he was born. We first hear of him at the court of Prince Rudolph of Prague (1576–1602) and it is possible that he visited the court of the King of Denmark, because he painted a picture of the King around the turn of the 16th/17th centuries. What we do know is that Abraham Van Der Dort came to England circa 1609 and attracted enough attention at court to rise amongst the ranks and ultimately, in 1625, at the accession of Charles I, he was appointed to provide patterns for the coinage. We are told that at the time of this appointment Charles I had had 16 years experience of his skill, Charles I’s elder brother Prince Henry having first engaged Van Der Dort with a payment of £50 for his services. Prince Henry died in 1612 and left his collection of medals and coins to Prince Charles. This was in fact the first Royal coin collection recorded in British history. The Royal Court employed Van Der Dort occasionally rather than annually: £30 was paid on March 16, 1618 for drawing a picture of His Majesty and another £80 on May 4, 1620 for embossing two portraits of His Majesty and attending him at Newmarket (the first recorded horse race occurred at Newmarket in 1622). On August 8, 1620 he received £420 for 14 portrait boxes and cases—a very large sum indeed. During the lifetime of James I, Prince Charles appointed Van Der Dort as Curator, on a salary of £40 a year, probably quite late in the reign. In addition, on March 24, 1625, an allowance of 5s 6d a day for board and lodging was granted for the rest of Van Der Dort’s life. On April 2, 1625, shortly after his accession, Charles I instructed the Duke of Buckingham to summon Van Der Dort and Sir Edward Villiers, Warden of the Mint. On arrival the King instructed Van Der Dort to make patterns for the new coinage and “give assistance to the engravers according to their abilities”. An annual sum of £40 would be paid for his services as such, and “for a book to be prepared fit for His Majesty’signature”. Official appointments in the court of Charles I are complicated, but it would appear that Van Der Dort held four specific posts connected with the arts: Keeper of the King’s Cabinet of Medals, Overseer of the King’s Pictures, Master Imbosser or Maker of Medals (for life) and Provider of Patterns. A salary of £40 per annum was paid for each post, granted under privy seals. As a foreigner he was not officially recognised and his “assistance to engravers at the Mint” never appears in their accounts. A warrant of July 31 granted Van Der Dort £40 per annum “during pleasure to make stamps for coins and assist engravers at the Mint”—apparently a confirmation of office but with the words “during pleasure” added. By November 26, 1625, Lord Conway wrote to the commissioners instructing them “to make patterns of some new stamps for coin, made by Mr Van Der Dort”. A letter of January 7, 1626, reveals that by December the Mint was at work on these, where they face the curious problem of the high relief of Van Der Dort’s dies and how to make the metal fill the high points of the die for gold £1, £3 and £5 pieces. We are told the problems with this minting would cause a detrimental effect to the output of the Mint should coining in large numbers be requested. But if His Majesty would like a few pieces of these denominations struck for pleasure then this would not hinder Mint activities. Van Der Dort’s total annual income at this stage is £260, nearly as much as the Frenchman Nicholas Briot received later. For the remainder of 1626 the only reference to Van Der Dort is a warrant of December 18 from the Great Wardrobe to receive certain parcels for His Majesty’s use. In 1627–28 his name appears on a list of strangers lodging in Westminster. In 1628 there are more documents relating to Van Der Dort in complaint of his lack of payment of salary. We do not know however if Van Der Dort ever received all that was due to him. Perhaps to appease Van Der Dort, Lord Conway wrote a letter on November 28 to Louysa Cole, the widow of James Cole, recommending Van Der Dort in marriage, but it is uncertain whether Van Der Dort allowed himself to be “disposed of” in such a way. On July 9, 1628 Van Der Dort received a warrant from the Great Wardrobe for the delivery of three “bed ticks”, presumably used for canvases, either for the copying of pictures in the Royal Collection or for painting portraits. Not long after this Van Der Dort was appointed for life as one of the Grooms of the Privy Chamber, a position which is mentioned again in 1636–37 when there is a dispute over his board allowance being reduced to 5 shillings a day. Various other payments are recorded to him in 1635 and a gift of £100 from Charles I in 1637, a period when he was “exceedingly intimate” with the King. It was during these years that Van Der Dort prepared the Catalogue of the Royal Collection at Whitehall in his own hand, which was finished by October 15, 1639 (original copy in the Ashmolean Museum, Oxford—MS1514). It was shortly after the completion of this monumental work that the life of Abraham Van Der Dort came to a melancholy end. As Supervisor of King Charles’ Repository of Rarities, Van Der Dort was taking special care of a “most excellent” portrait miniature. He hid the piece so well and secure that he could not find it himself. The loss of the miniature was too much for Van Der Dort to bear and he hanged himself in despair circa 1640. Ironically after his demise his executors found the item in question. We are left with the legacy of his pattern coins, as very few portraits known to be by his hand survive. A portrait of Abraham Van Der Dort by William Dobson hangs in the Hermitage in St Petersburg, Russia.
48
Coin news
www.tokenpublishing.com
June 2011
GB gold coins M. J. Hughes PO Box 1515 Kingston Upon Thames KT1 9UE Tel: 07917160308 E-mail: mjhughes87@aol.com
520$1 &(/7,& (1*/,6+ +$00(5(' &2,16 $1' WK &(1785< 75$'( 72.(16 :KHWKHU \RXU FROOHFWLQJ LQWHUHVWV LQ FRLQV FRPSULVH UDUH DQG H[SHQVLYH H[DPSOHV RU PRUH FRPPRQ SLHFHV \RX ZLOO Ă&#x20AC; QG RXU FDWDORJXHV ZKLFK ZH KDYH EHHQ SXEOLVKLQJ IRU RYHU WZHQW\ Ă&#x20AC; YH \HDUV QHFHVVDU\ UHDGLQJ 2XU ODWHVW HGLWLRQ LQ ZKLFK WKH PDMRULW\ RI SLHFHV DUH LOOXVWUDWHG FRQWDLQV D VXSHUE VHOHFWLRQ IURP WKH HDUO\ 5RPDQ (PSHURUV WKH %ULWLVK &HOWLF 7ULEHV WKURXJK DOO WKH SHULRGV RI (QJOLVK +DPPHUHG &RLQDJH IURP WKH (DUO\ 6D[RQV WR WKH 6WXDUWV DV ZHOO DV DQ H[FHOOHQW VHOHFWLRQ RI WK FHQWXU\ WUDGH WRNHQV 3OHDVH ZULWH RU WHOHSKRQH IRU D IUHH FRS\ WRGD\
Website: www.GBgoldcoins.co.uk Buyers and sellers of British & World coins. Specialising in Sovereigns and Krugerrands. Always interested in buying any coins Extremely competitive prices paid! Please get in touch for a no obligation quote, or if you need a little advice.
0,&+$(/ 75(1(55< (VWDEOLVKHG
www.GBgoldcoins.co.uk June 2011
www.tokenpublishing.com
3 2 %R[ 7UXUR &RUQZDOO 75 <4 Â&#x152;
7HO ( PDLO YHU\Ă&#x20AC; QHFRLQV#DRO FRP
Coin News
49
Out & about JIM GRANT
La Monnaie DE PARIS (The Paris Mint)
T
HE legal basis for the present Monnaie de Paris (The Paris Mint) were the laws, and decrees, passed by the Revolutionary Government of France on the 22nd and 23rd of Vendemiaire, An IV (1795) of the revolutionary calendar. These were strengthened in 1879 to prevent anyone other than the French Government from striking, and issuing, circulating coins.
In 1973 construction began on a new mint at Pessac which now produces the coins but all the decisions are made, and trial dies cut, in Paris. The first written evidence of a mint in Paris is dated AD 864 and over the centuries the mint has been housed in a number of buildings and the present, Parisian, building was completed in 1775 having been built by Jacques-Denis Antoine for King Louis XV. The Museum of the Monnaie de Paris is housed in a most attractive building at Quai de Conti 11 (go south over the Pont Neuf and turn right), which has served as the Paris Mint for 200 years and was built for the specific purpose of producing coins for the Kings of France. Nowadays it is possible for visitors to take a tour of the “Art Foundry” and see the most modern techniques being employed. Coins have been struck in “France” since the time of the Merovingian kings but before that there were the Greeks, Celtic tribes and Romans who also stuck their own coinage in this region. The Greeks were the first to use coins in Gaul and, in addition to using gold and silver staters in their colony, they used them to pay the mercenaries they recruited from their nearest neighbours. A number of staters, dating from the time of Philip II of Macedonia (359 to 336 BC), are on display. The Gauls initially imitated Philip II’s coins but gradually replaced the Greek symbols with their own until these in turn were replaced by the coins of the Roman Empire. An example of a coin struck by the Parisii is in the collection. There are two large rooms on the ground floor and one on the upper, although I suspect from the occasional glimpse of empty display cases and equipment through partially opened doors that there is room for expansion. The formal collection of coins and equipment began in the 19th century and what you see today is the result of the 1988 reorganisation. There are 30,000 coins, 75,000 medals and tokens in the collection with some 2,000 coins and 400 medals on view. Two of the rooms utilise traditional display techniques, to a very high standard, while the third is innovative with an extensive range of colours and unusually shaped vertical panels which allow both sides of the coins to be seen. They also have a number of massively enlarged reproductions of the best coins in each era.
Every display in the building is devoted to the development of coins, and later paper money, from the time of the Gauls, who were not the barbarians depicted by the Romans, and a surprising number of tribes, from their northern border to the Mediterranean, struck their own identifiable patterns. The most recent coins are, not surprisingly, the multi-national Euro. As you pass through the displays of current world coins, and this is not easy as there are many fine pieces amongst them, you will see coins from European countries (yes there are coins other than Euros still in use). Also represented are Africa, Asia, the Americas and Oceania (Australia, New Zealand and the Pacific Islands) which are intermingled with photographs of the countries represented. It is on returning to the first hall that the heart begins to quicken with some twenty-four cases of the finest coins you could wish to see. Each one tells the story of a particular period of development, particularly important people or coin types. Chronologically cases include coins from the mints in Gaul (well over 60 existed), and from Rome, through to Merovingian. In the Roman collection one of the most interesting coins on display is a sestertius depicting the sanctuary in which the Gauls effectively surrendered themselves, and their lands, to the Romans. With the passing of the Western Roman Empire coins gradually became degraded and it was not until the Carolingian monetary reforms, and the epoch of the Imperial denier, that an improved appearance, and quality control of coins, reappeared. These reforms began in the reign of Pepin the Short (751–768) when he declared that only the monarch had the right to issue coins, although the production of these could be sub-contracted. However it was his son Charlemagne (784– 814) who abandoned the gold standard (sous) and established the livre (pound) worth 20 sous, or 240 silver denier, and these latter coins, with local variations, became the standard coin for much of Europe over the next 400 years. On the obverse of the original Carolingian “deniers” was a cross within a circle with KAROLUS REX around the edge. Gradually the denier ceased to be a pure silver coin and when it finally disappeared from France, in the reign of Louis XVI, it was a very small copper coin of negligible value. By the end of the 10th century powerful barons were striking their own money however Philip Augustus (1180–1223) began
“ . . . the heart begins to quicken with some twenty-four cases of the finest coins you could wish to see ...”
50
Coin news
www.tokenpublishing.com
June 2011
Out & about
Illustrated are just some of the outstanding and exciting items and displays to be seen in the museum.
the process of bringing them under royal control. It was Louis IX (1226–90) who, in response to increasing trade, introduced two larger coins the “gros tournois” of 4 denier and a new gold coin called the “ecu” (shield) as an introduction to a national currency. The “ecu” was the French equivalent of the “scudo” (Italy), “schild” (Holland) and “escudo” (Spain), and was struck for about 250 years, but by the 17th century it had become a large silver coin. During the reign of Louis XI (1436–83) a gold “ecu”, with a sun above the crown, came into use. A new small gold coin, issued in 1290, was called the “petit royale assis” as the king is shown seated on his throne. This was struck by Philip IV. Amongst the coins displayed in this section are the earliest “gros tournois” struck in Tours. The franc, initially called the “franc a cheval” because of the horseman on the obverse, first appeared in 1360 and at the end of the 100 Years War France went back to striking coins whose face value actually reflected the value of the metal they contained. Commercial Silver—1300–1500 records the gradual changeover from the denier to larger value coins more suited to the increasing volume of trade being undertaken. Louis XIII (1589–1610) carried out a complete reform of French currency when he struck gold “louis” and the new silver “ecu” with all the accompanying sub-divisions of these units. The “louis” was discontinued after the French revolution. In the latter half of the 15th century medallions featuring important people and events had become common in Italy and the practice spread to France, which had equally important people and events to commemorate. Much later Louis XIV, the Sun King, made good use of medals as a propaganda tool. In 1468 the Duke of Milan put his own image, a revolutionary move, on the city state’s coins and, while Louis XII (1498–1515) was campaigning in Northern Italy, during the early 1500s, he saw these and thought that this was a good idea and on his return to France he adopted the practice. But prior to this he had coins, with his image on them, struck in Milan. The original images were unsatisfactory and barely recognisable and it was not until the reign of Henry II (1547–59) that it was decided to employ a “master cutter engraver” to ensure that the face on the coin actually looked like the monarch it was meant to portray. The Mechanisation of Production displays cover the new machinery and changing the ways of producing coins and June 2011
www.tokenpublishing.com
A double ducat d’or of Louis XII (1498–1513). This is an example of one of the first portrait coins showing a king of France.
Coin news
51
Out & about includes the ďŹ rst screw presses to come into use. The French are credited with the invention of the milled edge coin. This section also contains coins struck by the new processes. Before going upstairs have a look in the small offshoot gallery devoted to medallions and coins in three main themes; the time of the philosophers, Louis XVâ&#x20AC;&#x2122;s coinage, and money and commerce, all of which highlight the quality of workmanship which was now achievable in this era. The upstairs gallery explains, in nine subdivisions, the changes in French money brought about by the French Revolution in 1789. Beginning with the early revolutionary period this includes the ďŹ nancial issues leading to the coins struck under Directorate, Consulate and Empire. Assignats, vouchers which theoretically could be cashed for their face value, were distrusted by most merchants and were heavily discounted as they passed through peopleâ&#x20AC;&#x2122;s hands, are also exhibited. There is also a most interesting display of original laws and decrees relating to money. The displays of dies, the development of the franc, the Latin Union, French money and the metals used since 1914 are all well covered and bring the history of French money up to date. Until recently France used the monetary system devised in the 19th century but now uses the euro with its own national reverses. Surprisingly all this is free, at least when I was there, all I had to do was give my nationality, which was presumably recorded for future deliberations, perhaps for an advertising campaign in Australia? For enthusiasts of the native coins of Gaul a visit to the Bibliotheque Nationale de Franceâ&#x20AC;&#x2DC;s Cabinette des Medailles in the Rue Richelieu is obligatory. Sources A visit to the museum. Museum web site - www.monnaiedeparis.fr Various brochures and information available at the museum
(All photos courtesy of the author).
ATS Bullion Ltd
Dealers in Bullion & Modern Coins Suppliers of Gold Coins & Bars for Investment 2 Savoy Court, STRAND, London WC2R 0EZ
$Q H[WHQVLYH FDWDORJXH PRVWO\ FRPSULVHG RI (QJOLVK DQG 8QLWHG .LQJGRP PLOOHG LVVXHV SULRU WR DOO LOOXVWUDWHG RQOLQH XVLQJ KLJK TXDOLW\ SKRWRJUDSKV DW
ZZZ SHQQ\FURZQFRLQV FR XN 3HQQ\ &URZQ &RLQV 3 2 %R[ $PHUVKDP +3 *) 7HO 1R ( PDLO LQIR#SHQQ\FURZQFRLQV FR XN
52
Coin news
Tel: 020 7240 4040
Fax: 020 7240 4042
e-mail: bullion@atslimited.fsnet.co.uk Website: www.atsbullion.com Open Mon â&#x20AC;&#x201C; Fri 9.30 â&#x20AC;&#x201C; 4.30pm Contact us for friendly advice whether you are buying or selling.
Website: www.atsbullion.com www.tokenpublishing.com
June 2011
+/ 'SMRW 0XH 'HDOHUV LQ 8. DQG :RUOG 0LOOHG *ROG DQG 6LOYHU
4XHHQ (OL]DEHWK ,, 3URRI 6RYHUHLJQ 2QO\ ± NQRZQ 3&*6 3) Â&#x2026;
3/($6( 9,6,7 86 $7 -81( /21'21 &2,1 )$,5 21 /DQGPDUN +RXVH +DQRYHU 6TXDUH 0D\IDLU /RQGRQ : 6 +8
7HO )D[ (PDLO JHRUJH#JNFRLQV FRP :HEVLWH ZZZ JNFRLQV FRP
253,1*721 &2,16 0('$/6 +,*+ 675((7 253,1*721 .(17 %5 /=
PLGGOH RI +LJK 6WUHHW RSSRVLWH 6DQWDQGHU
&2,16 :( 385&+$6( 6(76 +2$5'6 &2//(&7,216 +2/,'$< 021(< 3/86 2/' Â&#x2026; 6 ' 35( '(&,0$/ 0,17 6($/(' %$*6 0,;(' )25(,*1 &2,16 &+$5,7< &2,16 '$0$*(' &2,16 629(5(,*16 +$/9(6 $/62
0,/,7$5< 0('$/6 %$'*(6 %$1. 127(6 3267&$5'6 %52.(1 :25.,1* :5,67 32&.(7 :$7&+(6 &,*$5(77( &$5'6 2/' -(:(//(5<³,1 $1< &21',7,21³$/62 $1<7+,1* 2/' 25 81868$/ 2SHQ 0RQ ³6DW DP³ SP &/26(' 021'$<6 78(6'$<6
June 2011
www.tokenpublishing.com
Coin news
53
Tokens
MERVYN BROWN
Introducing the token issues of H
Salgotarjan food society token value 1 krajczar, from the 19th century.
1/2 from the Diosgyor Iron Works—both sides of a tea token. Issued 1884–1920, made of bronze.
54
Coin news
HUNGARY
UNGARY is a fascinating country with a long numismatic history which was referred to last year in Coin News1 when Michael Alexander interviewed the current Governor of the Hungarian Mint, Ferenc Gaál. Coins dating from the first Hungarian monarch (St Stephen), who reigned from 1000 to 1038, and issues of the subsequent Arpad Kings are sought after, not only by native Hungarian collectors, but also by many Austrian and German numismatists. During my trips to Hungary over the past five years I have found that numismatics remains a popular hobby there with strong demand for the newer issues and ancients alike. To meet this demand Budapest boasts a number of coin and medal dealers, auction houses and “flea markets”. There are two thriving numismatics clubs one of which is a twice-weekly coin and medal market, and is “open to all”. From the numbers attending there is further proof that our hobby in Hungary is in a healthy state. I asked a collector to estimate the number of coin collectors in Hungary, with its population of 10 million and was told that he believes there are currently around 12,000 although only 4,000 of these could be classed as “active”. Of course there are some current incentives; collecting the current Forint issues makes sense since the government will soon be introducing the Euro. Even in my short time visiting the country I have seen the withdrawal of the 1 and 2 forint coin from circulation and the introduction of the bimetallic 200 forint coin. To conclude this general introduction, there are three main publications for collectors, the bi-monthly Érme Hírlap which broadly covers new issues, Hungarian and world coins, and the more specialised journals, Az Érem, currently issued twice each year, and the bi-monthly Éremtani Lapok. To see a representative collection of the numismatic history of Hungary, visit the MNB (Magyar Nemzeti Bank) in Budapest with its fine displays and well-stocked shop which sells standard and commemorative issues of Hungarian coins and banknotes dating back to the 1990s. So what about tokens? After visiting several museums and coin dealers I realised something was missing— where were the tokens? Were there any issued in Hungary? And if so did anyone bother to collect them? It is only in the past two years that I have been able to find answers to these questions. Yes there is a history of token issues, albeit rather restricted compared to our own rich diversity in the UK, but nevertheless this is an interesting collecting area, particularly since the subject has only been partly researched to date. And yes there are a number of dedicated collectors and researchers in this field, although I have been told that this is an interest shared by a very small number of enthusiasts, maybe less than 50 being active!2 And, of course, this is the both the challenge and the appeal.
By way of illustrating this “Cinderella” situation I undertook a study of the Az Érem magazine referred to earlier. This is a quality A5sized journal which is currently published twice annually and contains, on average 10 articles on numismatic subjects per issue. For the 40year period 1970 to 2009, of the 800 or so articles published a mere 33 were concerned with tokens. To introduce the topic I will briefly describe three periods during which tokens (bárcák ) were issued and give some examples that are generally available. I will also refer to three series of tokens which have particularly interested me. Later articles will cover these in greater detail. Early issues Despite there being a small band of collectors, some of the earliest issues are very difficult to find and command relatively high prices. Such rarities www.tokenpublishing.com
June 2011
Tokens as mining tokens dating from the 17th century fall into this category. A more accessible period comprises the early 19th century up until the end of World War I with the dissolution of the Austro-Hungarian Empire. This is the period of the “Big Hungary”, with its territory extending deep into modern-day Romania, Serbia, Croatia and Slovakia, lands lost following the Trianon treaty of 1918. Hungary at the time was typified by feudal farms with peasants receiving wages from three types of landowner: the King, noblemen and the Church. The earliest examples of tokens were paper tallies received by villains for compulsory work done, a day or a week for example, for his master. Tallies made of more durable materials followed, including metal and glass which could be exchanged for currency. In 1848 the villains were liberated and compulsory work ceased but the practice of issuing tallies for a wide range of activities continued, including corn reaping and grape picking and even such activities as hunting and the collection of branches and twigs from woods and forests. Some of the most frequently encountered types of tally are the 1 and 10 Mérő work tokens but the older issues are extremely rare. Sometimes these early metal tokens are found with corners clipped off their square shape. A complete square, with all four corners complete, indicates one day’s work but each clipped corner reduces the period of work by a quarter of a day.3 Mining tokens form another group which are represented in this period. In view of the size of Hungary at this time, these mines were located not only in Hungary but also in modern day Romania and Slovakia. Like the earlier examples, these tend to be very scarce and command high prices in good condition, certainly several hundred pounds. North of the city of Miskolc at Diósgyőr was a large Iron Works, a co-operative that, during the period 1884 to 1920, issued an extensive range of bronze tokens for use in the company shops and restaurants on site. These were mainly circular pieces and are frequently seen for sale. Not only are there a large number of items that these tokens were exchanged for, but there are different varieties too making this an interesting area of study. Tokens exist for milk (tej), tea (thea), bread (kenyér), oil (olaj) and for meals in a restaurant (vendéglő). Also frequently encountered are the diverse range of Danube bridge (Hídbárcák) and tunnel (alagút) tokens or passes which are not just restricted to those in Budapest but also from other towns along this, and other major rivers, including Esztergom, Győr, Szeged, Tahitótfalu and Ráckeve. The Budapest Lánchid (chain bridge) produced passes between 1849 and 1918. Any tokens featuring the Korona, the currency of the Austro-Hungarian Empire, will obviously fall into this period, for example the bracteate, tinned iron pieces issued by the Civil Service. World War I saw Hungary aligned with the Germans. It was the last period for issues by the “Greater Hungary” and an interesting area of study are issues of emergency money for use in prisoner-of-war camps within the Empire. Although the vast majority of these issues are paper money there was one notable exception, a prison camp near the city of Esztergom. This topic will feature in a later article. June 2011
www.tokenpublishing.com
1919 to 1960 This section covers the post-war period of the “Smaller Hungary” and the Hungarian Communist State up to the late 1960s. Over this period the national currency changed from Korona and Fillér to Pengő in 1919 and then to the Forint and Fillér in 1946 following the unprecedented hyperinflation earlier that year. Tokens can be found for all types of industry during this period. Several series of tokens were issued within the poultry (baromfi) industry (ipar) including an extended series of ten plastic currency-marked tokens with values between 1 fillér and 10 forints which were issued by Baromfi ipar during the 1950s. These, and other tokens issued by the poultry processing industry at this time, were tallies used to measure productivity. The system continued after nationalisation of the industry but became obsolete following investment into mechanisation. Another country-wide poultry company, Barnevál, produced a series of circular aluminium tokens with marked values of 1, 10 and 50 láda (boxes) of eggs (tojas) and 1, 10 and 50 ketrec (cages) of birds, together with other aluminium tokens for other products marked Hollandi or Fórum during the 1940s and 50s. The milk bottle deposit tokens (üvegbetét) of the Budapest Central Creamery are another fascinating group of mainly bronze tokens which were widely used during this period. The basic token had a value of 50 fillér but a version with an over-stamp (átverték) can be found with the lower denomination of 40 fillér. They were issued by over 300 dairy product retail outlets, each having a unique number punched onto the token. This series of tokens will be described in a future article. Budapest transport tokens during this period were issued by a number of bus companies and the light suburban rail network MÁV. The bus company BSZKRT issued bronze tokens with pengő values between 1922 and 1946, followed by several forint values between 1946 and 1949. The latter group exist with a variety of numbers on the reverse and are quite collectable, and frequently offered for sale. Other companies, like BART and FAV produced similar valued metal tickets depicting single deck buses, the latter up to 1968. Other towns produced similar transport tokens, for example those from Miskolc, made of iron were produced between 1953 and 1971 and comprise of at least seven values from 1 to 50 forints. A well designed series of metal tokens of various shapes was produced by the Miénk Kávéház (coffee house) in Budapest between 1930 and 1940. They range from tokens with a monetary value to those naming food and drinks available in the shop. Hungarians still love to spend time in these splendidly decorated cafes (cukrászdák) where rich cakes, tea and good coffee can be consumed. 1970 to date There is little evidence of tokens being issued currently within Hungary but, of course that depends on the definition used. The last 20 years of the socialist republic saw a continuation of tokens being issued by food producers and others and the following examples are typical for this period, yet not all are commonly encountered.
Budai workers’ association 1kr value pre-1919 in brass.
Budapest Civil Service token 1 korona bracteate of tinned iron, pre-1919.
Miskolc bus token 1 forint made of iron between 1953 and 1971, 17mm diameter and 1.8g.
Miskolc catering token from c. 1990, these started in 1968, were made of aluminium—this one is 30mm diameter and 3.4g.
Mienk coffee house token 1930s—this one is for coffee and is made of bronze.
Coin news
55
Tokens
From the poultry industry â&#x20AC;&#x201D;BAROMFIĂ&#x2030;RTĂ&#x2030;KESĂ?TĹ? N.V.â&#x20AC;&#x201D;tallies for boxes of eggs (1948 to 1955) 21mm diameter bronze.
A ticket to cross the Danube in Budapest by the chain bridge (lĂĄnchĂd). This is single-sided, and was issued between 1866 and 1918.
Another chain bridge crossing ticket or pass from the same period, also bronze and bracteate.
The most extensive issues of tokens within the period were the dividend issues made by a number of Ă FĂ&#x2030;SZ stores. These were food and other household needs retailers, sometimes including clothing and general fashion together with services like hairdressing in the larger stores. Each store was part of the Ă FĂ&#x2030;SZ Co-operative organisation, similar to the UK Co-operative Society. Dividend tokens, exchangeable for cash at the end of each year, were issued by a small number of stores during the 1970s and 80s. These issues will be described in detail in a later article. Poultry tokens were issued by a company based in PĂŠcs in the south of the country over four years, 1986 to 1989. These were very different to those mentioned earlier as their function was to provide employees with discount when purchasing products produced within their factory. Starting in 1968, in the city of Miskolc, an enterprising catering company sold tokens to local businesses which could be exchanged for meals at their restaurants. This type of luncheon voucher was launched originally with tokens with a value of 5, 10 and 30 forints. Then in 1988 a 20 forint value token was added and the 5 forint value phased out soon after December 30, 1990. These tokens were made of aluminium, some were circular and others triangular with rounded corners, octagonal or rectangular in shape. Changes in the taxation laws during the 1990s brought an end to this interesting initiative. These tokens, which had mintages varying from 20,000 to 240,000 are frequently offered for sale and are an attractive set to collect. Magyar Posta phone tokens made of bronze and cupro-nickel are frequently seen in markets
and date from this period. Earlier local issues are scarce and quite collectable by numismatists and phone card collectors alike. All now obsolete since the advent of the mobile phone. Odds and ends There are a vast array of metal and plastic, items that loosely fall into the category of jetons and tokens. Some are for advertising, or for use with car park barriers, drinks and other vending or gaming machines. In Budapest there was even a token used to access public WCs. An unusual collecting area in Hungary is metal and plastic dog tags, (KutyabĂĄrcĂĄk), metal discs issued by individual towns throughout Hungary on the payment of a dog licence. These were issued mainly from the 1930s until the 1990s and are classiďŹ ed as bĂĄrcĂĄk in Hungary so are viewed as tokens. References 1 ALEXANDER, M., â&#x20AC;&#x153;Steeped in Traditionâ&#x20AC;?, Coin News, August 2010, pp 42â&#x20AC;&#x201C;44. 2 ZOMBORI L., personal note December 2010. 3 ZOMBORI L., Magyar RobotbĂĄrcĂĄk, Uradalmi PĂŠnzek ĂŠs GazdasĂĄgi NapszĂĄmok, 1996. Acknowledgements Thanks to Tibor MĂŠszĂĄros who has contributed many of the photographs used to illustrate this article and also provided access to some of the less available tokens and to Lajos Zombori, IldikĂł RĂŠkĂĄsi and BĂŠla LĹ&#x2018;vey who assisted and encouraged me to write about the token coinage of Hungary.
&DPEULGJHVKLUH &RLQV :$17(' $// *2/' 6,/9(5 &2,16 3522) 6(76 &2//(&7,216 %(67 35,&(6 3$,' 3$<,1* ; )$&( 9$/8( 21 35( &2,16 )25 6$/( 29(5 &2,16 $&&(6625,(6 21/,1( ² &52:16 72 )$57+,1*6
1HZPDUNHW 5RDG &DPEULGJH &% -*
ZZZ FDPEULGJHVKLUHFRLQV FRP LQIR#FDPEULGJHVKLUHFRLQV FRP
:DQWHG DOO ZRUOG FRLQV WRNHQV DQG FXUUHQF\ FRLQV SOHDVH FDOO GDYLG F SUDWFKHWW WHO HPDLO XFFHGFS#DRO FRP ZHE FRLQVRQOLQH FR XN RU VHQG LWHPV WR 8&&( 32 ER[ PLOO KLOO /RQGRQ QZ IH
56
Coin news
www.tokenpublishing.com
June 2011
MAHOGANY COIN CABINETS Mascle Classic
%8//,21 *2/' &2,16 IURP
-2+1 +$<1(6 -(:(//(56 7+( %,5&+,1 /$1( *2/' &2,1 &2
LQ WKH &LW\ RI /RQGRQ
:H PDQXIDFWXUH D UDQJH RI FRLQ DQG PHGDO FDELQHWV
$OO FDELQHWV DUH FUDIWHG DQG SROLVKHG IURP VHOHFWHG PDKRJDQ\ PRXQWHG DQG Ă&#x20AC; WWHG EUDVV IXUQLWXUH 7UD\V DUH DYDLODEOH ZLWK D IXOO UDQJH RI FRLQV VL]HV IURP FURZQV WR IDUWKLQJV
$V VXSSOLHU WR OHDGLQJ LQWHUQDWLRQDO 0XVHXPV WKH SODQWDWLRQ JURZQ KRQGXUDV PDKRJDQ\ ZH XVH FRQIRUPV WR H[DFW VSHFLĂ&#x20AC; FDWLRQ DQG VROYHV DOO WKH HQYLURQPHQWDO FRQVHUYDWLRQ SUREOHPV
:LWK RYHU \HDUV¡ H[SHULHQFH ZH DUH VXUH WKDW ZH FDQ VXSSO\ D FDELQHW WR VXLWH \RXU UHTXLUHPHQWV For a full descriptive leaflet of our range, please contact:
www.coincabinets.com Email: orders@coincabinets.com
PETER NICHOLS, Cabinet Makers Tel: 01424 436682 Workshop: 0115 9224149
* 2 / '
%X\HUV DQG 6HOOHUV RI .UXJHUUDQGV 6RYHUHLJQV DQG :RUOG *ROG &RLQV
6W 0LFKDHO¡V $OOH\ 2II &RUQKLOO /RQGRQ (& 9 '/ 7HO )D[ (PDLO VDOHV#KD\QHV MHZHOOHUV FR XN
ZZZ KD\QHV MHZHOOHUV FR XN
ABC Coins and Tokens We stock a large selection of Scottish coins, tokens and communion tokens and also offer a wide range of hammered and milled British and World coins, tokens and numismatic books. Alnwick British and Colonial Coins and Tokens P. O. Box 52, Alnwick, Northumberland NE66 1YE, United Kingdom Website: www.abccoinsandtokens.com E-mail: d-stuart@d-stuart.demon.co.uk Telephone David at: 01665 603851
/ Ä&#x201A;Ĺľ Ä&#x201A; Ä?ŽůůÄ&#x17E;Ä?Ć&#x161;Ĺ˝Ć&#x152; Ä&#x201A;ĹśÄ&#x161; / Ä&#x201A;Ĺľ ůŽŽŏĹ?ĹśĹ? ĨŽĆ&#x152; sĹ?Ä?Ć&#x161;Ĺ˝Ć&#x152;Ĺ?Ä&#x201A; Ć&#x2030;Ć&#x152;ŽŽĨĆ? Ĺ?Ĺś &
Ͳ WĆ&#x152;ŽŽĨ Ä?Ć&#x152;Ĺ˝Ç Ĺś ĎĎ´ĎŻĎľ Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC; ÎŹĎĎ°Í&#x2022;ĎŹĎŹĎŹ Ͳ DÄ&#x201A;Ć&#x161;Ä?Ĺ&#x161;Ä&#x17E;Ä&#x161; Ć&#x2030;Ć&#x152;ŽŽĨ Ä?Ć&#x152;Ĺ˝Ç Ĺś Ä&#x201A;ĹśÄ&#x161; Ĺ&#x161;Ä&#x201A;ůĨ Ä?Ć&#x152;Ĺ˝Ç Ĺś ĎĎ´ĎŻĎľ Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC; ÎŹĎĎ´Í&#x2022;ĎŹĎŹĎŹ Ͳ ĎĎ´ĎŻĎľ WĆ&#x152;ŽŽĨ Ć?Ä&#x17E;Ć&#x161; Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC; ÎŹĎ´ĎŹÍ&#x2022;ĎŹĎŹĎŹ Ͳ ĎĎ´Ď´Ďł WĆ&#x152;ŽŽĨ Ć?Ä&#x17E;Ć&#x161; Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC; ÎŹĎĎ´Í&#x2022;ĎŹĎŹĎŹ Ͳ ĎϴϾϯ WĆ&#x152;ŽŽĨ Ć?Ä&#x17E;Ć&#x161; Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC;Í&#x2DC; ÎŹĎŽĎ°Í&#x2022;ĎŹĎŹĎŹ ĹŠÄ&#x17E;Ć&#x161;ĹľÄ&#x201A;ĹŠÎ&#x203A;Ĺ&#x161;Ĺ˝Ć&#x161;ĹľÄ&#x201A;Ĺ?ĹŻÍ&#x2DC;Ä?Žž ϏϏͲϹϴͲώϾϯͲϰϹĎÍ&#x2DC;ĎŽĎ°Í&#x2DC;Ď°ĎŹ Ä&#x201A;Ĺ&#x152; Ä&#x17E;Ć&#x152; ĎŽĆ&#x2030;Ĺľ June 2011
www.tokenpublishing.com
Coin News
57
Coin price guide
Price guide to: Threepences, twopences and three halfpences The Price Guide is intended as a supplement to the highly acclaimed COIN YEARBOOK and we hope the prices quoted will provide a true reflection of the market. The grading used in this price guide is strictly as the recognised English system. In the listing “—” indicates either: Metal or bullion value only; not usually found in this grade; or not collected in this condition.
Date
Mintage
F
VF
EF
UNC
THREEPENCES WILLIAM IV (1830–37)
(Issued for use in the West Indies) 1834.......................................... 1835.......................................... 1836.......................................... 1837..........................................
— — — —
£7 £7 £7 £7
£15 £15 £15 £20
£60 £60 £60 £85
£150 £150 £150 £170
VICTORIA (1837–1901) Young Head issues
1838 BRITANNIAB error ........... 1838.......................................... 1839 ......................................... 18t40 ........................................ 1841.......................................... 1842.......................................... 1843.......................................... 1843/34 43 over 34 .................. 1844.......................................... 1845.......................................... 1846.......................................... 1847.......................................... 1848.......................................... 1849.......................................... 1850.......................................... 1851.......................................... 1851 5 over 8............................ 1852.......................................... 1853.......................................... 1854.......................................... 1855.......................................... 1856.......................................... 1857.......................................... 1858.......................................... 1858 BRITANNIAB error ........... 1858/6 final 8 over 6 ................. 1858/5 final 8 over 5 ................. 1859.......................................... 1860.......................................... 1861.......................................... 1862.......................................... 1863.......................................... 1864 ......................................... 1865.......................................... 1866.......................................... 1867.......................................... 1868.......................................... 1868 RRITANNIAR error ........... 1869.......................................... 1870.......................................... 1871.......................................... 1872.......................................... 1873.......................................... 1874.......................................... 1875.......................................... 1876 ......................................... 1877..........................................
58
Coin news
— — — — — — — — 1,319,208 52,008 4,488 incl. above 131,208 954,888 479,065 incl. above 4,488 36,168 1,467,246 383,350 1,013,760 1,758,240 1,441,440 incl. above incl. above incl. above 3,579,840 3,405,600 3,294,720 1,156,320 950,400 1,330,560 1,742,400 1,900,800 712,800 1,457,280 incl. above — 1,283,218 999,633 1,293,271 4,055,550 4,427,031 3,306,500 1,834,389 2,622,393
£8 £8 £8 £8 £8 £8 £8 £10 £9 £9 £10 £10 £10 £20 £20 £7 £7 £7 £7 £7 £10 £10 £6 £7 £7 £7 £20 £7 £7 £7 £7 £7 £35 £5 £5 £5 £5 £5 £5 £5 £5
Extremely rare £20 £70 £140 £20 £70 £140 £20 £70 £140 £20 £60 £160 £20 £60 £160 £20 £50 £135 £20 £80 £175 £20 £60 £160 £20 £60 £145 £25 £80 £200 Extremely rare Extremely rare £24 £70 £170 £22 £40 £100 £24 £50 £130 £40 £120 — Extremely rare £50 £100 £275 £20 £50 £130 £20 £50 £140 £20 £55 £130 £20 £60 £150 £20 £50 £130 Extremely rare £30 £100 — £30 £100 — £18 £50 £120 £20 £50 £130 £20 £50 £120 £20 £50 £120 £40 £100 £225 £20 £50 £120 £20 £50 £110 £20 £50 £110 £20 £50 £110 £20 £50 £110 Extremely rare £70 £175 £300 £16 £45 £90 £16 £40 £90 £16 £40 £90 £16 £40 £90 £16 £40 £90 £16 £40 £90 £16 £40 £90 £16 £40 £90
Date
2011 EDITION NOW AVAILABLE
Mintage
1878.......................................... 1879.......................................... 1880.......................................... 1881.......................................... 1882.......................................... 1883.......................................... 1884.......................................... 1885.......................................... 1886.......................................... 1887.......................................... Jubilee Head issues
F
2,419,975 3,140,265 1,610,069 3,248,265 472,965 4,369,971 3,322,424 5,183,653 6,152,669 2,780,761
£5 £5 £5 £5 £7 £5 £5 £5 £5 £5
1887 ......................................... incl. above 1887 Proof ................................ incl. above 1888.......................................... 518,199 1889.......................................... 4,587,010 1890.......................................... 4,465,834 1891.......................................... 6,323,027 1892.......................................... 2,578,226 1893.......................................... 3,067,243 Old Head issues
£2 — £2 £2 £2 £2 £2 £10
1893.......................................... incl. above 1893 Proof ................................ incl. above 1894.......................................... 1,608,603 1895 ......................................... 4,788,609 1896.......................................... 4,598,442 1897.......................................... 4,541,294 1898.......................................... 4,567,177 1899.......................................... 6,246,281 1900.......................................... 10,644,480 1901.......................................... 6,098,400
£1 — £2 £1 £1 £1 £1 £1 £1 £1
VF
£16 £16 £16 £16 £22 £10 £10 £10 £10 £10
EF
UNC
£40 £90 £40 £90 £40 £75 £40 £75 £60 £140 £30 £60 £30 £60 £30 £60 £30 £60 £30 £60
£4 £10 £22 — — £60 £5 £20 £40 £5 £20 £40 £5 £20 £40 £5 £20 £40 £5 £20 £45 £30 £110 £240
£4 — £6 £5 £5 £5 £5 £5 £5 £5
£15 — £24 £22 £18 £18 £18 £18 £18 £14
£30 £45 £50 £50 £35 £35 £35 £35 £35 £30
£1 — £1 £3 £1 £1 £1 £1 £1 £1
£2 — £4 £10 £4 £5 £4 £3 £4 £4
£7 — £20 £45 £25 £22 £20 £20 £20 £18
£15 £20 £45 £90 £60 £55 £50 £50 £50 £35
— — —
— — —
£3 — £3
£10 £40 £12
EDWARD VII (1901–10)
1902.......................................... 8,268,480 1902 “Matt Proof” .................... incl. above 1903.......................................... 5,227,200 1904.......................................... 3,627,360 1905.......................................... 3,548,160 1906.......................................... 3,152,160 1907.......................................... 4,831,200 1908.......................................... 8,157,600 1909.......................................... 4,055,040 1910.......................................... 4,563,380 GEORGE V (1910–36) First issue
1911.......................................... 5,841,084 1911 Proof ................................ incl. above 1912 ......................................... 8,932,825
www.tokenpublishing.com
June 2011
Coin price guide Date
Mintage
F
VF
EF
UNC
1913.......................................... 7,143,242 1914.......................................... 6,733,584 1915.......................................... 5,450,617 1916.......................................... 18,555,201 1917.......................................... 21,662,490 1918.......................................... 20,630,909 1919 ......................................... 16,845,687 1920 ......................................... 16,703,597 Second issue—debased silver 1920 ......................................... incl. above 1921.......................................... 8,749,301 1922.......................................... 7,979,998 1925.......................................... 3,731,859 1926 ......................................... 4,107,910 Third issue—Modified bust 1926.......................................... incl. above Fourth issue—new design (oakleaves)
— — — — — — — —
— — — — — — — —
£3 £3 £3 £3 £3 £3 £3 £3
£12 £12 £15 £10 £10 £10 £10 £10
— — — — —
— — — — —
£3 £3 £3 £5 £7
£12 £12 £40 £25 £28
—
—
£8
£22
1927 Proof only ........................ 1928.......................................... 1930.......................................... 1931.......................................... 1932.......................................... 1933.......................................... 1934.......................................... 1935.......................................... 1936..........................................
— £4 £2 — — — — — —
— £9 £4 — — — — — —
— £28 £10 £2 £2 £2 £2 £2 £2
£80 £65 £40 £7 £7 £7 £7 £7 £7
15,022 1,302,106 1,319,412 6,251,936 5,887,325 5,578,541 7,405,954 7,027,654 3,328,670
Date
Mintage
ELIZABETH II (1952–
1953.......................................... 30,618,000 1953 Proof ............................... 40,000 1954.......................................... 41,720,000 1955.......................................... 41,075,200 1956.......................................... 36,801,600 1957.......................................... 24,294,500 1958.......................................... 20,504,000 1959.......................................... 28,499,200 1960.......................................... 83,078,400 1961.......................................... 41,102,400 1962.......................................... 51,545,600 1963.......................................... 39,482,866 1964.......................................... 44,867,200 1965.......................................... 27,160,000 1966.......................................... 53,160,000 1967.......................................... 151,780,800
Silver
VF
EF
UNC
— — — — — — — — — — — — — — — —
£1 £6 £5 £5 £6 £6 £9 £6 £2 £1 £1 £1 — — — —
)
— — — — — — — — — — — — — — — —
— — — — — — — — — — — — — — — —
TWOPENCES It is generally accepted that earlier issues of the small silver twopences were only produced for inclusion with the Maundy sets, q.v., except for those listed below.
1797 “Cartwheel” ..................... 1797 Copper Proofs .................
GEORGE VI (1936–52)
F
— —
£22 £45 £280 £800 Many varieties from £500+
VICTORIA (1837–1901)
1937.......................................... 8,148,156 1937 Proof ................................ 26,402 1938.......................................... 6,402,473 1939.......................................... 1,355,860 1940.......................................... 7,914,401 1941.......................................... 7,979,411 1942.......................................... 4,144,051 1943.......................................... 1,397,220 1944.......................................... 2,005,553 1945.......................................... Brass—larger size, 12 sided, “Thrift” design
1937.......................................... 45,707,957 1937 Proof ................................ 26,402 1938.......................................... 14,532,332 1939.......................................... 5,603,021 1940.......................................... 12,636,018 1941.......................................... 60,239,489 1942.......................................... 103,214,400 1943.......................................... 101,702,400 1944.......................................... 69,760,000 1945.......................................... 33,942,466 1946.......................................... 620,734 1948.......................................... 4,230,400 1949.......................................... 464,000 1950.......................................... 1,600,000 1950 Proof ............................... 17,513 1951.......................................... 1,184,000 1951 Proof ................................ 20,000 1952.......................................... 25,494,400
— — — — — — £2 £2 £5
— — — — — — — — — — £6 — £5 — — — — —
— £1 £4 — — £15 — £1 £4 — £4 £12 — £1 £3 — £1 £3 £5 £12 £35 £5 £12 £35 £12 £35 £80 Only one known
— £1 £4 — — £10 — £1 £18 — £3 £40 — £3 £30 — £1 £8 — £1 £8 — £1 £8 — £1 £8 — £3 £20 £25 £125 £400 — £5 £45 £25 £150 £475 £2 £20 £110 — — £15 £2 £20 £100 — — £15 — — £10
For use in the Colonies 1838 ......................................... 1848..........................................
— —
4 £4
£10 £12
£18 £20
£35 £40
THREE HALFPENCES WILLIAM IV (1830–37)
For use in the Colonies 1834 ......................................... 1835.......................................... 1835 over 4............................... 1836.......................................... 1837..........................................
— — — — —
£6 £9 £6 £8 £15
£16 £24 £16 £18 £35
£35 £80 £70 £200 £40 £90 £40 £95 £110 £300
£15 £15 £20 £15 £18 £15 £20 £20
£35 £75 £35 £75 £60 £125 £35 £80 £40 £90 £30 £70 £70 £140 £70 £140
VICTORIA (1837–1901)
For use in the Colonies 1838 ......................................... 1839 ......................................... 1840.......................................... 1841.......................................... 1842.......................................... 1843.......................................... 1860.......................................... 1862..........................................
— — — — — — — —
£6 £6 £8 £6 £6 £6 £9 £9
Coming next month:
Illustrated price guide to sixpences and fourpences June 2011
www.tokenpublishing.com
Coin news
59
Richard Plant
H T N O M E H COIN OF T
We visit Glastonbury
Obverse A. to be seen by “officials”. Obverse B. As the “sacred thorn”.
Sorry! This month’s “coin” is actually a Token—minted by Henry Gytch, a mercer of Glastonbury. In 1858 Boyne published a book on Somersetshire tokens, describing the design on the obverse of this particular token as “The Glastonbury Thorn”; and everybody was thrilled Reverse. to see numismatic evidence for a tree linking us up with one of the most interesting legends in British history. Everyone accepted (and wanted to accept) Boyne’s description—until 1993, when Robert Thompson pointed out that we had all been looking at it the wrong way round. When we turn the token upside down the thorn bush becomes Glastonbury Tor topped by the tower of St. Michael’s church. It is evident from the way the legend is written that Thompson is right (what a pity!); but at least it still comes from Glastonbury which connects us with our ancient legends. One such legend states that Joseph of Arimathea was an uncle of the Virgin Mary. He worked in the tin trade, and this involved him in making voyages by sea to Cornwall. At some point between Jesus’ known visit to the Temple in Jerusalem when he was 12, and the beginning of His Ministry, when He was around 30, Joseph supposedly took Jesus with him to Britain, giving William Blake (1757–1827) the inspiration to write his verses, “And did those feet in ancient time walk upon England’s mountains green? And was the Holy Lamb of God on England’s pleasant pastures seen?” Legend goes on to tell us that, some time after burying Jesus in the tomb he had prepared for himself, Joseph of Arimathea came with eleven companions to Britain to preach the Gospel here. When, tired from their travelling, they eventually reached the Glastonbury area, they sat down to rest at a hill which was to become known as Wearyall Hill, where Joseph thrust his walking-staff into the ground. The staff took root and grew into the Glastonbury Thorn, which reputedly flowered every year at Christmastime. This bush survived until the Civil War, 1642–45, when the Roundheads cut down what remained of it, as being merely a bit of Popish superstition. People looking at Henry Gytch’s token “the wrong way up” suggested that Gytch had witnessed the final destruction of the supposedly “Sacred Thorn”, and had chosen this as his design for his token (issued in 1653 and 1666) to spite the Roundheads. Might I suggest that Henry Gytch WANTED us to look at it in both ways. If you were a Puritan official, then it was only Glastonbury Tor, with the bottom of the hill rounded to fit the roundness of the coin. If, however, you were NOT a Puritan official, you would see the beloved (locally) Sacred Thorn.
60
Coin news
www.tokenpublishing.com
June 2011
9,.<3(9 ,5.30:/ *605: (5+ 4,+(33065: :(3,: 30:;: %8 d $FW RI 8QLRQ E\ &URNHU $U PP .<05,( 0LOLWDU\ )DLU ([ PW d %8 d 0, ) d %8 d &DSWXUH RI 7RXUQD\ E\ &URNHU 9LUW %8 d $U PP 0, WRQHG $81& d :03=,9 7966- 76<5+ )UHQFK /LQHV 3DVVHG DQG %RXFKDLQ %8 d HD 3LHGIRUW FDVHG )'& d 7DNHQ E\ &URNHU PP $H 0, %8 d () d 9,57 81& d *96>5: %DWWOH RI 6KHULIIPXLU RU 'XQEODLQ $9) d E\ &URNHU $H PP 0, 1() d )9(:: ;/9,,7,5*,: /,; () d %8 d $FW RI *UDFH E\ &URNHU $H PP () d %8 *HP d 0, () d 9LUW %8 3URRIOLNH d *HRUJH ,, &RURQDWLRQ E\ &URNHU %8 d HD /9, $81& d 1() () d $U PP 0, *) d *9) 1() d %8 d 5HEHOV 5HSXOVHG IURP &DUOLVOH E\ .LUN %8 d $H PP 0, 5DUH *9) d () 81& 6SHFLPHQ LQ FDVH RI LVVXH 81& d /XVWURXV REY SDUWLFXODUO\ VR d 3HDFH RI $L[ /D &KDSHOOH $U PP 3URRI )'& d 9LUW %8 d 0, 5DUH WRQHG 81& d %8 d %8 d %DWWOH RI %HOOHLVOH E\ .LUN $H PP 0, 5DUH () d *HRUJH .LQJ 2I *% E\ .LUN %+0 +6<)3, -36905: 4(<5+@ 6++ $U PP 55 81& d ,QY , 81& %8 d G REY K OLQHV $81& d (DUO RI 6SHQFHU E\ :\RQ PP 81& d %+0 :0 () d /(3-*96>5: &DUWZKHHO G *9) 1() d %DWWOH RI 1LOH E\ :\RQ %+0 $H PP WRQHG () d 7 1 LQ %ULWDQQLD SRVV XQUHFRUGHG &DSWXUH RI +HOGHU 3RLQW E\ +DOOLGD\ 7,550,: ) d 3URRI REY GDUN SDWFK R ZLVH OXVWURXV %+0 $H PP *() d -+ 9LUW %8 d 81& d 'HDWK RI (DUO +RZH E\ :\RQ %+0 9LUW %8 d |'((} LQVWHDG RI |'()} SRVV $H PP WRQHG 9LUW 81& d %8 d XQUHFRUGHG $) d 'HDWK RI 3LWW E\ :\RQ %+0 %8 d ) WRQHG 81& d $H PP WRQHG 81& d %8 d HD WRQHG 81& d *HRUJH 3 RI :DOHV $SSQWHG 5HJHQW E\ %8 d HD OXVWURXV 9LUW %8 d :\RQ %+0 :0 PP () d %8 d %8 d 'HDWK RI *HRUJH ,,, %+0 E\ %8 d %8 d :\RQ PP $H () d %8 d %8 d &RURQDWLRQ E\ +DQFRFN %+0 9LUW %8 d PP () d 9LUW %8 d -RKQ +RGJVRQ 03 E\ ,QJUDP -36905: %+0 PP $( 5DUH *() d -+ %8 d %8 d %8 d %8 d &RURQDWLRQ E\ 7% %+0 PP :0 5DUH 9LUW %8 d 3URRI )'& d %8 d %8 d %8 d &RURQDWLRQ E\ +DOOLGD\ %+0 PP :0 $() () d %8 d &RURQDWLRQ E\ :\RQ %+0 /(3-7,550,: %8 d %8 d HD WRQHG 81& d PP $H 9) d %8 d 9LUW %8 d 9LFWRULD 9LVLW WR /RQGRQ E\ %DUEHU %8 d OXVWUH WUDFHV $81& 81& d :0 PP 9LUW %8 d &RURQDWLRQ E\ 3LVWUXFFL %+0 + 81& 9LUW %8 d :/03305.: $H PP 5DUH 1() d 9LUW %8 d %8 d 'HDWK RI 1HOVRQ E\ $GDPV %+0 9LUW %8 d %8 d PP $H WRQHG 81& d %8 d %8 d 6LU -RKQ 9DQEUXJK E\ :\RQ %+0 %8 WRQHG d %8 d $H PP () d %8 d 1DSROHRQ ,,, (XJHQLH DW *XLOGKDOO -(9;/05.: %8 d E\ :\RQ %+0 $H $81& d %8 d HD 3URRI WRQHG 81& d %ODFNIULDUV %ULGJH +ROERUQ 9LDGXFW %U d |9}V IRU |$}V LQ |*UDWLD} SRVV E\ $GDPV %+0 $H PP %8 d XQUHFRUGHG 9) d $81& d ( 6 %8 d HD 9LUW %8 %8 d 5HFRYHU\ RI 3 RI :DOHV E\ :\RQ %8 d HD %+0 $H PP $81& d 9LUW %8 d :0?7,5*,: -XELOHH ([KLE 0DQFKHVWHU E\ +HDWRQ () WRQHG d %+0 :0 PP 1() () d %8 d 4,+(33065: &RURQDWLRQ E\ 'H 6DXOLHV %+0 %8 *HP d z -DPHV , 3U &KDUOHV FRXQWHU $U PP LQ RULJLQDO SDFNHW () d %8 d E\ GH 3DVVH 0, $U PP 1() d &RURQDWLRQ E\ )UD\ %+0 %8 d HD %DWWOH RI 'XQEDU E\ 6LPRQ $H $H PP 7ULDO 3LHFH PRVW XQXVXDO %8 d 0, *9) d *() d %8 d 'HDWK RI 0DUWLQ 7URPS E\ 0XOOHU $FWLRQV RI +HOLJRODQG %LJKW 'RJJHU %8 d $U PP 9) SLHUFHG UDUH d %DQN E\ %RZFKHU %+0 PP %8 d 3UXGHQFH RI -DPHV ,, E\ %RZHU :0 $81& d %8 d $U PP 0, 9) UDUH d %DWWOH RI -XWODQG E\ %RZFKHU %8 d &RURQDWLRQ E\ %RZHU FDVW %+0 PP :0 () d %8 d $U 0, ) *) d (GZDUG 9,,, &RURQDWLRQ E\ +XMHU %8 d &RURQDWLRQ E\ 5RHWWLHU $U PP %+0 $H PP VWUXFN () d %8 d HD 0, *) d (GZDUG 9,,, &RURQDWLRQ E\ 7DXWHQKD\Q 7ROHUDWLRQ $FW E\ 0XOOHU $U PP %+0 $H PP 1() d 0, 5DUH () d *HRUJH &RURQDWLRQ E\ 7XUQHU :03=,9 ;/9,,7,5*,: 6LPSVRQ %+0 $H PP %8 d &RURQDWLRQ E\ &URNHU $5 PP %8 d 0, 1() FOHDQHG d 9) *9) d
GOULBORN COLLECTION Ltd â&#x20AC;¢ PO Box 122, Rhyl LL18 3XR â&#x20AC;¢ Tel: (01745) 338112 eve (01745) 344856 a&RLQ 0HGDOOLRQV /LVWV GD\V DSSURYDO³2UGLQDU\ SRVW S DQG 5HFRUGHG 'HOLYHU\ Â&#x2026; \RXU ULVN 5HJLVWHUHG SRVW Â&#x2026; P\ ULVN a
June 2011
www.tokenpublishing.com
Coin News
61
Home Care 101
DR KERRY RODGERS checks-out some striking quarters for his coins
C
OIN YEARBOOK puts it succinctly: “There is no point in going to a great deal of trouble and expense in selecting the best coins you can afford, only to let them deteriorate in value by neglect or mishandling.” The same comment is equally applicable to banknotes. Housing and handling newly purchased coins and notes in a suitable manner is plain common sense. Unfortunately, like teenagers, coins and banknotes come with the seeds of their destruction in-built. The metal used to strike coins is not only easily damaged physically but is chemically reactive—except in the case of gold. Leaving aside the need to handle each new arrival with care, it must also end up housed in a manner that protects it from physical injury and minimises the possibility of chemical impairment. Yet whatever steps are taken, these need to be balanced against an individual’s desire to display and enjoy their collection. Some coins arrive already seemingly protected, perhaps in a plastic capsule, an old-fashioned 2x2 brown paper envelope, a plastic flipover, or a simple 2x2 card flip with the coin behind a thin transparent film. It is always essential to ensure that this holder will not cause lasting damage if a coin was to remain in it for any length of time. Assume nothing! Serious chemical damage has occurred to coins from both paper and card and plastic holders where these materials have not been chemically inert. PVC was widely used in the 60s and 70s to house coin collections, particularly in albums but also in mint-issued wallets. It caused major problems when it degraded, releasing hydrochloric acid and plasticizers. Coins housed in PVC ended-up covered with a yellow-green slime that could be removed satisfactorily only by expensive professionals. It would be nice to think this is all behind us but it ain’t necessarily so. Collectors must ever be aware and alert. It is not prudent to assume other plastics are inert. Some are, some less so. Those used by slabbing companies are probably the best around. And then there is paper and card. In purchasing pop-in albums and card holders, for example, it is necessary to ensure these are acid- and sulphur-free otherwise your coins will be damaged long term. One popular holder from the 1960s was found to corrode the rims of copper and bronze coins housed in it long term. Always ask your supplier. Shucks, I don’t even trust mints! Is the envelope and card used in the latest PNC or bubble-pack acid-free? How would
62
Coin news
you know? How is the imbedded coin going to look in 10 years time? There are some excellent books on this subject. Dig around. Ask questions. Get an archivist to talk at a future club night. I prefer to house my own coins in either a custom-made cabinet or archival-grade pop-in card albums. These both protect them while allowing me to easily enjoy them. Duplicates and the spill-over from my main collecting areas get housed in 2x2 flips and filed. In handling coins, admirers can pose bigger risks than any holder. The skin of our fingers is about as acid as a tomato—a pH of about 5.5. Finger marks can leave indelible impressions on freshly-struck coins. Breath contains saliva droplets that can generate mini-crop circles on mint surfaces. And tobacco smoke is as lethal to coins as to humans. It is also necessary to recall that pure metals are soft. In the bad old days gold and silver used in coins was blended with another metal such as copper. This yielded an alloy harder than the pure metals and hence was less susceptible to wear. Even so, the coins wear, albeit slowly, and they are still prone to surface damage—as are those minted from base-metal alloys such as cupronickel. All coins need to be handled with respect, particularly modern collectors’ coins struck from pure gold and silver. Both pure metals are extremely soft and their coins easily marred. All that being said, as in other areas of collecting, it is each to their own. I recall one millionaire who delighted in accumulating sets of modern circulating coins from every country on the globe. He employed staff to mount and display them. Each set was expensively framed with each coin glued onto archival card using epoxy resin. Why not? It gave him immense pleasure.
Finger-marked reverse of otherwise UNC Hong Kong 1863 1 cent.
Carbon spots and surface damage mar a choice Newfoundland 1872H cent. Coin images courtesy Heritage Auction Galleries
www.tokenpublishing.com
June 2011
WE ARE ALWAYS KEEN TO PURCHASE CHOICE COINS, ESPECIALLY: British, USA, Australian We will purchase single items or complete collections and can travel anywhere to view at short notice. If you have coins, medallions or banknotes you wish to sell, please contact us at the address below. Knightsbridge Coins (S. Fenton) 43 Duke Street, St Jamesâ&#x20AC;&#x2122;s, London, SW1Y 6DD, UK Telephone: 020 7930 7597/8215/7888 Fax: 020 7930 8214
The only coin dealer with membership of all four Numismatic Organisations June 2011
www.tokenpublishing.com
Coin news
63
&2/,1 1$5%(7+ 621 /7' &(&,/ &2857 /HLFHVWHU 6TXDUH /RQGRQ :& 1 +( 7HO )D[
52%(57 2:(1 +285 127( () Â&#x2026;
%8<,1* 6(//,1* %5,7,6+ ,6/(6 $1' $// :25/'
3$3(5 021(< )25 7+( %(*,11(5 72 7+( $'9$1&(' &2//(&725 2XU QRWH FRQGLWLRQV DUH LQ DFFRUGDQFH ZLWK WKH ,%16 DSSURYHG V\VWHP ,I D QRWH KDV EHHQ FOHDQHG RU ZDVKHG ZH VD\ VR %(51+$5' Â&#x2026; 3(33,$77 9) Â&#x2026; 6&27/$1' Â&#x2026; 5%& 3 ( 9) Â&#x2026; 6&27/$1' &/<'(6'$/( Â&#x2026; 3 81& 12 Â&#x2026; *(50$1< 50 3 /$67 127( 5' 5(,&+ 81& Â&#x2026; % Â&#x2026; +2//20 % < /$67 6(5,(6 $ 81& Â&#x2026; % $ Â&#x2026; +$59(< +8// %5$1&+ 9) Â&#x2026; % Â&#x2026; ))25'( $ 81& Â&#x2026; % $ Â&#x2026; '8 0,66,1* 6,*1$785( *'() Â&#x2026; =,0%$%:( 75,//,21 '2//$5 81& Â&#x2026;
+RPH YLVLWV DYDLODEOH IRU FROOHFWLRQ YDOXDWLRQV
3/($6( 5,1* )25 )5(( /,67 :HE ZZZ FROLQ QDUEHWK FRP (PDLO &ROLQ 1DUEHWK#EWLQWHUQHW FRP
64
Coin news
IAN GRADON WORLD NOTES Quality banknotes bought & sold
P.O. Box 359, Durham, DH7 6WZ Tel: 0191 3719700 Mobile: 07929 602933 E-mail: igradon960@aol.com
Website: www.worldnotes.co.uk IBNS Member 7516 www.tokenpublishing.com
June 2011
BANKNOTE News
THE SPECIALIST BANKNOTE SECTION INCLUDED FREE WITH COIN NEWS
View from Valkenburg T
WENTY FIVE years and still going strong. The Maastricht Paper Money Fair was a resounding success on the warm weekend of April 9 & 10 with dealers and collectors attending from all over the world. Jos Eijsermans and his team are to be congratulated not only on this superbly organised event but also for reaching their silver anniversary. The launch of the Banknote Yearbook 2011 was also a huge success at the show.
Coin News contributors Jonathan Callaway and dealer Trevor Wilkin get down to some serious banknote business.
Banknotes galore
W
ITH prices to suit all pockets, Paul’s Paper Money provides an ideal shopping experience for the banknote collector. Specialising in UK banknotes including Bank of England and Treasury notes, Paul Wilde aims to offer as varied a selection as possible to suit the needs of today’s collector. An IBNS member, Paul is also always looking to purchase UK collections to replenish his extensive stock. To view the full range of current banknotes for sale go to www. paulspapermoney.com.
Polar dollars
T
HE second issue of the privately produced Polar Dollars series offers three notes representing the Arctic region. The animals featured are an Arctic tern, walrus and a Polar bear with cub. The reverse celebrates two important men of the region, Fridtjof Nansen, diplomat and Nobel Prize winner and Norwegian explorer Roald Amundsen, the first man to reach both Poles. Denominated in Polar Dollars these purely commemorative pieces are available from Mynt & Seddel, Lyderhornsveien 291, 5171, Loddefjord, Norway (www.polardolar.com). June 2011
www.tokenpublishing.com
Jos Eijsermans, organiser, celebrated 25 years of running this world-renowned event.
The Brit Notes team fly the flag for the UK—Glen West holds the fort while mum Pam networks the room.
Autumn glory
A
S we go to press, Archives International will be holding Part VIII of the US & worldwide banknotes auction in New York. However, plans are already well underway for further sales to be held in the autumn. A scripophily sale will be held in late September/early October with the second part of the Silver City and Round Mountain Collections on offer late October to early November. Consignments are now being accepted for these late summer dates. For catalogue details or to consign lots contact Dr R. Schwartz, Archives International, PO Box 987, Tenafly, New Jersey 07670, USA or visit www.archivesinternational.com.
BANKNOTES IN BRIEF
WORLD papermoney dealer, Ian Gradon, has a new email address. He can now be contacted on igradon960@aol.com. ENGLISH papermoney features highly in London Coins Auction next sale. Held on June 6 & 7 the auction includes some rare and much sought after material. For a free catalogue call 01474 871464 or go to www.londoncoins.co.uk. LIST no. 348 is now out from Barry Boswell and business partner daughter Kate. The list, now headed Barry Boswell & Kate Bouvier, offers 50 pages of British and Irish notes. To secure your copy telephone 01327 261877 or log onto www. collectpapermoney.co.uk. Welcome Kate to the world of papermoney! SENSIBLY priced world notes are available on Arghans’ latest list, no. 6, including some special offers and bulk discounts. Arghans took over the stock of JAK of Plymouth so a diverse range of papermoney is on offer. For your copy telephone 0579 382405 or email keithp44@waitrose.com.
Coin news
65
3(7(5 0255,6
'HDOHU LQ &RLQV 0HGDOV %8<,1* $1' 6(//,1*
&RLQV 0HGDOV %DQNQRWHV DQG $QWLTXLWLHV )5(( /,676 &2,1 12 0('$/ 12 72.(16 12 $1&,(176 12 %$1.127(6 12 )25(,*1 12 5HWDLO 67$7,21 &21&2856( %520/(< 1257+ %5 67$7,21 .(17 3RVWDO 3 2 %2; %520/(< .(17 %5 (4 6KRS KRXUV 0RQGD\ )ULGD\ DP² SP &ORVHG :HGQHVGD\ 6DWXUGD\V DP² SP
7HO )D[ 9LVLW RXU ZHE ZZZ SHWHUPRUULV FR XN ( PDLO LQIR#SHWHUPRUULV FR XN 66
Coin News
+744-+<7:; ?7:4, 188 Wollaton Road, Wollaton, Nottingham. NG8 1HJ
Coins, Banknotes, Tokens, Medals *Long established retail shop with large stock *Always keen to buy & sell *Get the proper price for your coins and notes Pre â&#x20AC;&#x2DC;47 Silver coins paying 40 x face value (for large quantities, based on silver at ÂŁ28 per oz)
Sovereigns paying ÂŁ200 each
(for 5 or more, against ÂŁ215 spot price)
Bulk copper coins, world coins & currency wanted. Shop open Tuesday to Saturday: 0115 928 0347 email: info@collectorsworld-nottingham.com Website: www.collectorsworld-nottingham.com
TREVOR WILKIN BANKNOTES
Buying & Selling All World Banknotes Tanzania P New.......... 10000 /- Elephant. BoT head office.............................ÂŁ14.00 Tanzani P New............ 5000 /- Rhinoceros. Coal mine......................................ÂŁ8.50 Tanzania P New.......... 5000 /- Lion. Omani Fort ...............................................ÂŁ5.00 Tanzania P New ......... 1000 /- Nyerere. State House .......................................ÂŁ3.00 Tanzania P New ......... 500 /- Karume. University..............................................ÂŁ2.00 Tanzania P 35 ............. 500 /- Cape Buffalo. University 2003 ............................ÂŁ2.50 Tanzania P11 ............. 100 /- Error. No Islands. ND 1985 ...............................ÂŁ15.00 Tanzania P10 .............. 50 /- Error. No islands. ND 1985 ...................................ÂŁ9.00 New Banknote List available - ask for free copy. All notes Unc - air postage - 80p. Registration - Four Pounds.
www.polymernotes.com
PO Box 182 â&#x20AC;˘ Cammeray â&#x20AC;˘ NSW 2062 â&#x20AC;˘ AUSTRALIA Phone/Fax: ++ 61-2-9438-5040 â&#x20AC;˘ Email: trevorsnotes@bigpond.com Payment by MasterCard & VISA only.
www.tokenpublishing.com
June 2011
Paper facts
The Walrus Scrip of Russian-America DR KERRY RODGERS goes exploring Sarah Palin country . . .
B
ACK in the 18th century, when the British were busy establishing—and losing—colonies on the eastern seaboard of North America, the Russians were hard at work building-up a string of settlements along the continent’s Pacific rim. Russian explorers had sighted Alaska in 1732 and made landfall in 1741. By 1816 they had mapped as far south as California.
In 1799 Tsar Paul I gave this company monopolistic control over all trade in the Aleutian Islands and the North America mainland south to 55° N with one third of all profits to go to the Tsar. The company subsequently fell under the direct authority of the Ministry of Commerce of Imperial Russia with the Siberian merchants of Irkutsk, who had formed the initial stockholders replaced, by Russian aristocracy from St Petersburg.
The Skin Trade The area abounded in natural resources ripe for exploitation and a thriving maritime trade quickly arose. The initial and main harvest was sea otter fur. From 1784 on, a string of Russian trading posts became scattered down the length of the coastline. Some grew to become substantial settlements such as Novo-Arkhangelsk established in Alaska in 1804, and known today as Sitka. Others were simply fortified outposts. Most settlements were sited in Alaska but they others were founded in the Aleutian Islands, British Colombia and, eventually, Northern California and Hawaii. The combined population of the Russian settlements finally topped 40,000, most of whom were Native-American Aleuts. Settlement further south was bought to a halt by British treaties and hurriedly-built Spanish forts. Although a number of companies were involved, the principal concern was that of Grigory Shelikhov and Ivan Larionovich Golikov. It was similar in scope to the Hudson’s Bay and the East India Companies and proved highly successful. In time it evolved to become the Russian-American Company (RAC)—Russia’s first joint stock company.
Money from old skins As in all such colonial enterprises well removed from home base, there was a need for currency to oil the wheels of industry, specifically to pay trappers and allow them to purchase goods from the company’s stores. To this end, from 1816 on the RAC produced a number of currency issues. These have become known as walrus or sealskin money. Purists prefer the term parchment scrip. The precious sea-otter skins were shipped home in waterproof bags made from walrus hide. Recycling is not new and the redundant bags were turned into currency scrip that, in Russia, became known as Kozhanye [skins]. Seven different denominations are known: 10, 25, and 50 kopeks and 1, 5, 10, and 25 roubles but with several issues of each being produced between 1816 and c. 1852. This notion of using skin money was not new. To the south China’s Han dynasty had used deer skin/parchment issues hundreds of years earlier. And in 2007 Spink offered a possibly unique example of Siberian (Ussuri) skin money denominated as 50 kopecks and issued c. 1815. Current Russian museum authorities were unaware of this issue and regarded it as a likely pre-cursor to the RAC scrip.
Russian-America Company 10 kopeks skin scrip printed on yellow parchment stock with black ink printing. This example is from the rare second issue of 1822 and is in much nicer shape than many of the other known survivors. It predates the holing of ten kopek notes but the corners have been clipped to assist recognition. On January 2002 it realized $4,887 at auction. (Image www.ha).
June 2011
www.tokenpublishing.com
Coin news
67
Paper facts
Russian-American Company 25 kopek scrip. Zander lists just eighteen 25 kopek examples as known with discernable serial numbers. Of these 7 are in private collections. The note measures 63mm x 55mm with evenly clipped corners, and is printed in black ink on a thick, off-white, textured skin. Despite being heavily soiled the text is clearly visible on both sides as is the company seal. Graded PMG Very Fine 25 it sold for $8,050 in August 2010. (Image www.ha).
The RAC issues were prone to deteriorate. Walrus skins do not provide high grade material suitable for note production. Despite their durability, the scrip quickly became very grubby and greasy with designs —and denominations—growing increasingly illegible. Further, the indigenous population who made up the majority of the fur trappers were illiterate. In his authoritative 1996 study, The Alaskan Parchment Scrip of the Russian American Company 1816-
“ . . .Walrus skins do not provide high grade material suitable for note production . . . ”
1867, Randolph Zander notes that from about 1842-on deliberate changes were made to the physical appearance of the notes to help differentiate the various denominations. The upper corners of 10 kopek notes were holed, all four corners of the 25 kopek pieces were clipped, and the upper two corners of the 50 kopek were clipped. It is estimated that about 150–200 pieces of RAC scrip survive today. Most are housed in museums. Relatively few are available to private collectors.
Circular and possibly unique Siberian Ussuri parchment scrip for 50 kopecks, c.1815, with manuscript serial number 78, black text on yellow, and initials G.T.G. at centre. The Russian text around reads: DUE DATE 1st JANUARY 1816. The reverse is blue and contains a 50 at centre. (Image courtesy Spink).
“ . . . Despite their durability, the scrip quickly became very grubby . . . ”
Exceedingly rare Russian-American Company 1 rouble. Just two out of eighteen known 1 rouble pieces are listed in Zander’s 1996 census with green ink printing on white parchment. The note measures 58 x 40 mm. Graded PMG Choice Very Fine 35 it has been restored and sold for $18,975 in June 2010. (Image www.ha).
68
Coin news
www.tokenpublishing.com
June 2011
Paper facts Selling-out to the USA By the 1820s the profits from the fur trade were in decline. Over-hunting had severely reduced the number of otter and other fur-bearing animals. The Russian government assumed full control of the company with the intent of winding it up. However, it was not long before the Russians were looking at how they might best get shot of their entire American colony. They found it an increasingly expensive and remote liability. But they proved picky as to whom they might sell it to. They last people they wished to acquire it were the British with whom they had just fought an expensive war in the Crimea. In 1859 Russia offered the whole kit and caboodle to the USA. However, no deal had been finalised prior to outbreak of the American Civil War when all bets were off. Following the Union victory the Tsar tried again and a deal was struck at 4.00 am on 30 March 1867. The purchase price negotiated by US Secretary of State William H. Seward was $7,200,000, or 2.3¢ per acre. Effectively, US had increased its territory by 586,412 square miles. The purchase was not universally received in Washington. Political opponents described it as “Seward’s folly” and “Seward’s icebox.” But then in 1896 gold was discovered in the Yukon and, as they say, the rest is history. Contemporary cartoon showing Secretary of Sate William Henry Seward and President Andrew Johnson trucking-in a load of Alaskan ice to cool down Congress following their purchase of Russian-America. (Image Library of Congress).
The purchase price of the 49th state: the $7.2 million check [sic] used by the USA to buy almost 600,000 square miles of Russian-America from the Imperial Russian Government. (Image National Archives, Records of the Accounting Officers of the Department of Treasury).
Coins, Medals, Banknotes Bought, Sold & Exchanged
Clive Dennett Coins Established 1970
www.clivedennettcoins.co.uk 66 St Benedict’s St., Norwich, NR2 4AR Tel/Fax: 01603 624315 Shop closed on Thursdays
WORLD BANKNOTES Dealers write for wholesale list World’s largest stock ★ ★ ★ EDUCATIONAL COIN COMPANY Box 892 HIGHLAND, NEW YORK 12528, USA Tel: 845-691-6100
Fax: 845-691-4974
BUYING—ANY QUANTITY June 2011
www.tokenpublishing.com
A Great Deal for Banknote Collectors • Every month I produce a large list of some 30 pages offering thousands of different, world wide banknotes. • I also issue a quarterly, specialised listing of English, Scottish, Irish, Isle of Man and Channel Island notes. • My price lists, as well as many special offers can now be accessed on the internet.
Visit my website at:
www.collectpapermoney.co.uk I have been buying and selling all types of paper money for over 20 years and I pride myself on offering a first class reliable service. If you have notes to sell, or if you would like to receive some of the best sales lists around, please contact me.
BARRY BOSWELL
24 Townsend Lane, Upper Boddington, Daventry, Northants. NN11 6DR Telephone: 01327 261877 Fax: 01327 261391
e-mail: Barry.Boswell@btinternet.com
Coin news
69
Banknote feature
Some famous
SCOTTISH FORGERIES To avoid—or to collect JONATHAN CALLAWAY
B
ANKNOTE collectors will know that one of the banes of their life is the danger that they unwittingly pay good money for a forged note, sold to them in error (or otherwise) by someone who may (or may not) have been equally unaware. Caveat emptor indeed! But forgeries can themselves be of intrinsic interest and are often considered very collectible. In many cases genuine notes have not survived and collectors have only the forgeries to rely on to see what the issued note would have looked like; even if the forger’s work is amateurish he will certainly be trying to make his notes look as much like the original as possible. However, the market value of a forgery will in most cases be lower than that of the original, though even here there are exceptions.
This article will focus on some of the better known forgeries likely to be encountered by collectors of Scottish banknotes. There are too many to be able to run through them all! Banknote forging started almost as soon as banknote issuance itself and the earliest known effort dates from 1700, just five years after the Bank of Scotland was founded. No surviving examples are known so the first early forgery collectors are likely to come across is that of the Bank’s 1723 note for £12 Scots (equivalent to £1 Sterling: the Scots pound had actually been done away with at the time of the Act of Union in 1707, though it continued to be used in day-to-day transactions for many years). A number of notes dated June 24, 1723, have survived and it is possible they are all forgeries, though the condition and paper quality of some strongly suggest they are genuine. A genuine note will definitely have a clear impression of the Bank’s circular seal and once further research has been undertaken it may be possible to determine the genuine from the forgery by the manuscript serial numbers. The forger was one John Currie, an Edinburgh bookbinder, whose eventual punishment sounded fearsome, if mild by the standards of the day—first his “lug” (ear) was nailed to the door of the Tron Kirk in Edinburgh, then he was whipped and banished from the city. Forgers in the 18th century were
often executed once they had been flogged. The lucky ones were transported to the colonies. The Bank of Scotland continued to be plagued by problems with forgers during the 18th century but a more unusual problem emerged in 1811 during the Napoleonic Wars. Predominantly French prisoners-of-war housed in Edinburgh Castle and in camps at Penicuik, Greenlaw and Valleyfield were involved in large scale organised forgery of the Bank’s £1 and 1 guinea notes (though they forged other notes too). There were about 11,000 such prisoners at the height of the conflict and it seems that some were being organised into counterfeiting gangs by outside agents. Historians point to their guards, poorly paid militiamen, as the culprits, but few prosecutions took place and in fact the prisoners’ efforts are relatively easy to detect, being crudely produced by the time-honoured pen-and-ink method whereas the originals were engraved on copper plates. Even though the original designs were very simple affairs, much detail is lost including crucially the printers’ imprint which is reproduced as just a blur. But some notes show an attempt at imitating both the watermark and the impressed Bank seal—ingeniously done by using carved sheep and rabbit bones. Examples of these can be seen in the Bank of Scotland’s Museum on the Mound.
Below: This Leith Bank forgery is a classic penand-ink job.
Probably a genuine note (Image taken from the James Douglas photo archive).
70
Coin news
Below: One of the better efforts by the French POWs at Penicuik.
This Glasgow Banking Co £1 note (above) and many others of this type would pass as genuine except in this case it is annotated “Forgery”. www.tokenpublishing.com
June 2011
Banknote feature Other banks, too, suffered from forgeries. In fact it seems that nearly every bank operating at the time had its notes forged. Between 1780 and 1830 banks whose notes were forged included the Banking Company in Aberdeen, the Aberdeen Commercial, the Commercial Bank of Scotland, at least three of the banks in Dundee, banks in Paisley, Perth and Renfrew, the Edinburgh private bank Forbes Hunter & Co and the Glasgow-based Thistle Bank. The provincial banks—and the smaller private banks in Glasgow and Edinburgh—seemed so prone to the problem that it has been mooted they were targeted by the forgers precisely because their notes would have been less familiar to many people than, say, those of the Bank of Scotland and the Royal Bank. Some of these forgeries have survived in number and while most are helpfully marked with the word “Forgery” some are not and one has to look for other clues—which include poor detail on the vignettes, lack of a clear printers’ imprint, both printed text and signatures using the same inks, or, for those with the red and black Congreve revenue stamps on the back, a poorly executed version of the stamp (which is printed to quite a high quality on genuine notes). In some cases, an incorrect version of the revenue stamp has been used and in others it appears that the note was printed from a genuine plate but carried false signatures. in a few cases there appear to be examples of forged notes being “legitimised” by virtue of being stamped after the forging had taken place. By the 1820s banks began to turn to engravers who had mastered the art of engraving on hardened steel plate. Leading exponents included Perkins & Heath, W. & A. K. Johnston and W. H. Lizars. Briefly, forgers drew breath but then they had a go at reproducing these much more finely and artistically engraved notes. Pen-and-ink hardly sufficed any more as can clearly be seen by some easily detected and very poor efforts to forge both Perkins & Heath and Lizars notes for the British Linen Company and the Royal Bank of Scotland respectively. A close look at the vignettes is all that is needed. The original engravers must have been horrified! But then technology came to the rescue of the forger in the form of photography and its cousin photo-lithography, prompting issuers to experiment with multiple colours and ever more elaborate designs. Second and even third colours, in addition to the usual black, had first appeared in 1777 when the Royal Bank produced its famous Red Head Issue, but the notion did not catch on until much later. Notes using blue or red ink on a second plate first became widespread in the 1850s, these colours being chosen due to the difficulties photography had in reproducing them accurately. Colours alone did not stop the forgers. An interesting effort, said to have been prepared in France, and discovered after some of the forged notes were passed at Musselburgh races, is of a Bank of Scotland £10 note dated 8th May 1872. The genuine notes had been engraved and printed by Perkins Bacon & Co but these forgeries were good enough to concern the bank even though the red TEN panel across the centre of the note is yellowish on the forgeries. Apart from this, what gives them
away for collector is an unfortunate error made by the forgers: they spelt PERKINS wrong: all the forgeries have the printers’ imprint PERKNIS BACON & CO, a strangely basic mistake to make on what was otherwise a good piece of work. Criminal elements tried a different tack in 1865, this time the victim being the Royal Bank of Scotland. The Royal’s £1 note had been redesigned by W H Lizars in 1832, a note design which continued in use for an unprecedented 135 years until 1967. The original had been a classic “square” design printed in black on watermarked paper which continued in issue with only minor changes until the 1860s. But in 1859 Lizars had died and this evidently left his business in some disarray as he had no family to take over from him. While W. & A. K. Johnston eventually acquired the business the following year, there seems to have been an extended hiatus when there was nobody in effective control. According to a series of letters found in the Royal Bank’s archive it seems that proofs and specimens of the notes of numerous banks went astray, as did an amount of paper from which new notes were to have been printed. There is no record of any printing plates getting into the “wrong” hands but this must have been what happened. During 1865 forgeries of Royal Bank £1 notes started appearing, all produced to an excellent standard. The bank was obviously alarmed and amongst other actions offered a reward of £200 and hired a private investigator, Henry Miller, who operated under the somewhat pompous trading name of the Glasgow and West of Scotland Guardian Society for the Protection of Trade. His efforts failed to uncover the miscreants but their notes appeared regularly, mainly in Glasgow shops, from 1865 until at least 1871. The bank honoured all those presented and retained many of them in their archives. They display a number of common features: unwatermarked paper; printed serial numbers (many examples bearing the same ones); the manuscript date 1st May 1865; and the hand signatures of two officials purporting to be either B. Grahame, J. Robertson, J. Hardie, James Watson, William Templeton, John Heron or D. McCullogh. This would have remained a footnote if a number of these “forged” notes had not appeared on the market in early 1995, having emanated from a Glasgow antique dealer. Some were sold as forgeries, given the compelling evidence of matching serial numbers, but some were offered, and bought, as genuine notes. Were they? Well, no, but they had been produced from a genuine plate so arguably at least one important criteria had been met, and they certainly looked the part. A few did not even achieve this, though, and had probably been produced using a photolithographic process which caused much detail to disappear. A further well-known forgery took place in 1866, this time of £1 notes of the Union Bank of Scotland. The forger was a Glasgow photographer by the name of John Henry Greatrex who joined forces with Sewell and Thomas Grimshaw, the latter an engraver, to produce convincing copies of the notes. Photography was used with the printing done by lithography. The forgers were caught after an alert teller spotted notes with poorer quality paper. The bank’s board responded by commissioning new note designs and issuing
Below: This Dundee Commercial £1 looks genuine enough but it is the Congreve stamp on the reverse which gives it away.
Lizars would have wept if he had seen this poor effort!
June 2011
www.tokenpublishing.com
Not even a genuine Congreve stamp design – the George & The Dragon central motif does not appear on 5 pence stamps.
Coin news
71
Banknote feature This notes was exhibited at the trial of John Henry Greatrex, photographer and forger.
Two RBS £1 notes printed from a genuine plate, but the forgers used the same serial numbers despite using different “signatures”.
The Mitchell forgery— almost indistinguishable in quality from the original, only the paper quality and watermark letting it down.
A genuine Bank of Scotland £1 note of 1885.
Returning to the Bank of Scotland, they suffered perhaps the best known forgery in Scottish banking history in 1888 the usual warning notices to newspapers and other banks. This prompted an equally alert small town shop apprentice to become suspicious when a Union Bank £1 note was offered for a very small purchase. He followed the customer, saw him do the same at another shop and called the police. The man was caught at the station with a bag containing about £1,400-worth of forged £1 notes. Two of the miscreants were caught straight away but Greatrex himself managed to escape and fled to New York. A detective followed him there and he was trapped after he answered a bogus advertisement for a photographer. He was brought back, got 20 years in prison while his partners-incrime got 15 years each. Returning to the Bank of Scotland, they suffered perhaps the best known forgery in Scottish banking history in 1888. Mainly because of the 1872 forgery (though there were others) the Bank had undertaken a project to devise an inimitable note. Eventually, in 1885, new notes had been issued, designed by William S Black, an artist and art teacher reckoned by the then Director of the National Gallery in Edinburgh to have been “probably the finest designer Scotland has produced”. They had been printed by Waterstons using brown, yellow and blue/grey inks devised by Prof. Crum Brown, a Professor of Chemistry at Edinburgh University. The inks were devised from a secret formula chosen as be ing resistant to reproduction by photographic means and the result proclaimed as being—at last—the truly inimitable note. It seems that this statement provoked a 74 year old retired engraver, John Gray Mitchell, into producing forged £1 notes of excellent quality. He had engraved the note on a steel plate with the initial intention of putting just two into circulation, and if undetected as he expected, then proclaiming his achievement to the Bank. Fate intervened in the form of the failure of the company in which he had invested his savings, so he produced more and more and managed to put a total of 56 into circulation before being caught. His house was searched and many more notes were found along with his engraving equipment. All this was retained by the bank after his trial and conviction and can be seen in the Museum on the Mound. Of the 56 put into circulation only 34 were subsequently accounted for but according to the Bank’s now retired archivist, Alan Cameron, just three are known to be in private hands having been sold on to the market with the Bank’s permission by James Douglas. As he stated in an article for the Bank’s in-house magazine “the Mitchell case was to remain a unique example of traditional skills proving better than technology”. It may also be a case where the market value of the
72
Coin news
forgery matches that of an original note. All the forgeries are dated 9th March 1887 and carry the prefix and serial numbers 40/B 8813. The original note with these serials had been retired and destroyed in 1888. The Bank later decided to modify the note designs and in 1893 a medallion background was added to the previously plain central field; otherwise they remained essentially unchanged until the end of the 1960s. This brief survey of some Scottish forgeries is by no means complete although it does illustrate the fact that a variety of methods were used at different times by forgers, whose increasingly sophisticated efforts to defeat the banks caused the banks to work ever harder to counter their efforts. Even today, forgeries still occur although it is less a problem with modern notes because engraving and printing standards have risen so comprehensively over the years, in response of course to the challenges set by years of determined criminal endeavour. The method of choice now seems to be the colour photocopier and scanner (and some models now have built in software to prevent them from copying banknotes). A widelyreported forgery of Bank of Scotland £20 notes in 2005 using this method led to the eventual capture of the mastermind, dubbed “Hologram Tam” by the popular press. He was able to replicate not only the designs of the notes but also the metal thread, although the ultraviolet-sensitive ink and the fine paper quality defeated him. His efforts with other banknotes carrying holograms brought about his nickname, these being yet another anti-forgery device introduced by note issuers. He got six years and four months. And so the battle goes on with no end in sight—until of course paper money itself is superceded. References: DOUGLAS, James, Scottish Banknotes (1975). RAIT, Robert, The History of the Union Bank of Scotland (1930). MALCOLM, Charles A., The Bank of Scotland 1695-1945 (1945). CAMERON, Alan, The Bank of Scotland 1695-1995 (1995). GRAHAM, William, The One Pound Note in the History of Banking in Great Britain (1911). Acknowledgement: The assistance of the staff of the Lloyds Banking Group Archives and the Museum on the Mound, Edinburgh is gratefully acknowledged.
www.tokenpublishing.com
June 2011
$ ' +$0,/721 &2 (VWG
67 9,1&(17 3/$&( */$6*2: * ': 7HOHSKRQH )D[ ²
:(%6,7( 12: 83'$7(' ZZZ DGKDPLOWRQ FR XN ( PDLO DGGUHVV MHIIĂ&#x20AC; QHPDQ#KRWPDLO FRP
%$1.127(6 /,67,1* 83'$7('
%8<,1* %5,7,6+"
:( +$9( $ /$5*( 9$5,(' 6(/(&7,21 2) 48$/,7< %5,7,6+ &2,16 $/:$<6 ,1 672&.
6(//,1* %5,7,6+" :( :,// 3$< 723 35,&(6 )25 *22' 48$/,7< &2,16
23(1 021'$<²6$785'$<
DP² SP
3DXO¡V 3DSHU 0RQH\ Suppliers of high quality UK Banknotes
One of the largest selections on the web Always looking to purchase banknote collections IBNS Member 9627
www.paulspapermoney.com June 2011
www.tokenpublishing.com
Coin News
73
Strap
LATEST ISSUES By our banknote correspondent, TREVOR WILKIN
TANZANIA
Bank of Tanzania (BoT) released its latest series of notes on January 1, 2011 of 500, 1000, 2000, 5000 and 10000 Shillings. Whilst smaller in size than those of the 2003 series they replace, there is a similarity in design and colouring. For the 2000/-, 5000/- and 10000/-, the wild life heritage theme is maintained although because of the reduced size only the heads of the animals are shown instead of the previous full body image. Hence for most denominations, the images used are such that the denominations of the new series are instantly recognisable by those accustomed to handling BoT notes. Colours are broadly consistent for each value across the two series. As more often than not, there is an exception and it is with the green 500/- where the portrait of Sheikh Abeid Amani Karume replaces the Cape Buffalo. Sheikh Karume (1905 to 1972) was of humble beginnings but became a powerful force in Zanzibar politics. Zanzibar and neighbouring islands including Pemba gained independence from Britain in December 1963 as a constitutional monarchy under the Sultan. However African nationalists were dissatisfied with continued Arab rule and within a matter of weeks led a revolution ousting the Sultan and establishing the Peoples’ Republic of Zanzibar and Pemba under the presidency of Sheikh Karume. This state of affairs was not destined to last as Karume, spurred by fears of communist intervention, took Zanzibar and Pemba into a union with mainland Tanganyika which itself was throwing off its British colonial yoke to form the United Republic of Tanzania. Karume was the first Vice President. On the back of the 500/- is the Central Hall of the University of Dar Es Salaam with a group of students and academics in foreground in what could be a graduation ceremony. Julius Kamabarage Nyerere (1922–99) appears on the blue 1000/- as previously; Mount Kilmanjaro is in the background. Trained locally as a teacher Nyerere went on to study as the University of Edinburgh where he became involved in student politics developing his political philosophy. Returning home he formed the Tanganyika African National Union and entered local politics agitating for independence. On self government in 1960 he was appointed prime minister and on independence, president. On the back is the State House, the president’s official residence. It appeared on the 2003 issue although the perspective and other design elements are different. Heads of three of Africa’s “Big Five” animals are on the remaining denominations, a lion on the brown 2000/-, a rhinoceros on the purple 5000/- and an elephant on the rose 10000/-. On the back of the 2000/- is the Omani or Old Fort on Zanzibar. It also appeared on the 2000/- of 2003 however the views are different. It was built between 1698 and 1701 by the Omani Arabs as a defence against rival Arab groups and the Portuguese who the Omanis’ usurped after almost 200 years of occupation. Over the centuries it has had many uses; it is now a theatre and cultural centre. Kiwira coal mine and mine head is on the back of the 5000/as it was for the 2003 variety although the reduced size of this new note means that Zanzibar’s House of Wonder now disappears. The choice of this mine to represent Tanzania’s mineral industry on its note issue is somewhat surprising. Coal is scarcely the most prominent mineral in Tanzania and certainly is not a ranking export. Kiwira has a chequered history being privatised some years back but this did not work out and more recently the government was required to buy it back. BoT’s head office in Dar Es Salaam is on the back of the 10000/-. The same appears on the 2003 issue however in the intervening years a new head office was built and hence a different building is depicted. Signatories are the Minister for Finance and Economic Affairs Mustafa Mkulo and BoT Governor Benno Ndulu. Giescke and Devrient of Germany was the printer of most, if not all the 2003 series notes. However the company blotted its copybook in as big way being implicated in a corruption case in which several senior BoT officials were convicted and jailed. De La Rue prints the 1000/- (possibly at its plant in neighbouring Kenya) and aggressive new entrant Crane prints the other denominations.
Trevor Wilkin can be contacted at: PO Box 182 | Cammeray | NSW 2062 | Australia | Telephone/Fax ++61-2-9438-5040. Email: trevorsnotes@bigpond.com | website www.polymernotes.com
74
Coin news
Please see Trevor Wilkin’s advert on page 66
www.tokenpublishing.com
June 2011
Banknote prices
Price guide to: New 7th Edition now available
National Bank Ltd & Northern Bank Ltd The Price Guide is intended as a supplement to the highly acclaimed BANKNOTE YEARBOOK and we hope the prices quoted will provide a true reflection of the market. The grading used in this price guide is strictly as the recognised English system. In the listing “—” indicates either: not usually found in this grade; or not collected in this condition.
NATIONAL BANK LTD
F
VF
ONE POUND NI.501 Signatory: F. H. Green No prefix letters; dated 6.5.1929, 1.11.1931, 1.1.1932 15.8.1932 and 1.8.1933. ......................................... £350 £800 VF
EF
NI.502 Signatory: F. H. Green Prefix A dated 1.2.1937, 1.9.1937 and 2.10.1939£100 £200 F
VF
FIVE POUNDS NI.503 Signatory: F. H. Green No prefix letters; dated 6.5.1929, 1.8.1933 and 1.10.1934...................... Rare VF
EF
NI.504a Signatory: F. H. Green Prefix A dated 1.2.1937; 1.9.1937 and 2.10.1939£160 £320 NI.504b Signatory: J. J. O’Donnell Prefix A dated 1.8.1942; 1.1.1949 and 2.5.1949 £150 £280 NI.504c Signatory: R. W. Maguire ............................................. Prefix A dated 1.5.1964 – specimens only ................ Rare F
VF
TEN POUNDS NI.505 Signatory: F. H. Green No prefix letters; dated 6.5.1929; 2.10.1931 and 1.8.1933 Rare VF
EF
F
VF
NI.506a Signatory: F. H. Green Prefix A dated 1.2.1937, 1.9.1937 and 2.10.1939£220 £450 NI.506b Signatory: J. J. O’Donnell Prefix A dated 1.8.1942 and 2.5.1949................. £180 £350 NI.506c Signatory: R.H.R. Fry Prefix A dated 1.7.1959 ....................................... £180 £320 TWENTY POUNDS NI.507 Signatory: F. H. Green No prefix letters; dated 6.5.1929 ................................ Rare VF
EF
NI.508a Signatory: F. H. Green Prefix A dated 1.2.1937 and 2.10.1939............... £550 £1200 NI.508b Signatory: J. J. O’Donnell Prefix A dated 1.8.1942 and 1.1.1949................. £480 £850 NI.508c Signatory: R.H.R. Fry Prefix A dated 1.7.1959 ....................................... £500 £950
NORTHERN BANK LTD
F
VF
ONE POUND NI.601a Signatory: S. W. Knox (on prefix N-I/A and N-I/E) — — NI.601b Signatory: H. H. Stewart (on prefix N-I/B and N-I/F) .................................. — — NI.601c Signatory: W. F. Scott (on prefix N-I/C) ................ — — NI.601d Signatory: A. P. Tibbey (on prefix N-I/D) .............. — — Red serial numbers Prefix N-I dated 6.5.1929 A to prefix N-I dated 1.8.1929.................................. £55 £100 F
June 2011
www.tokenpublishing.com
EF UNC
NI.601e Signatory: F. W. White Black serial numbers Prefix N-I dated 1.1.1940 ...................................... £60 H NI.602a Signatory: W. S. Wilson Prefix C dated 1.7.1970 ......................................... £20 NI.602b Signatory: H. M. Gabbey Prefix C dated 1.10.1971 ....................................... £20 NI.602c Signatory: W. Ervin Prefix C dated 1.8.1978 ......................................... £14
F
£90 £35 £35 £25 VF
FIVE POUNDS NI.611 Signatories: Handsigned Prefix B dated 1.9.1927 (but issued on or after 6th May 1929)....................... Rare NI.612a Signatory: S.W.Knox Prefix N-I dated 6.5.1929 ...................................... £80 £180 A NI.612b Signatory: H. H. Stewart Prefix N-I dated 6.5.1929 ...................................... £80 £180 B VF
EF
NI.613a Signatory: F. W. White (on prefix N-I/D, N-I/H, N-I/L, N-I/P) ............. — — NI.613b Signatory: H. J. Craig (on prefix N-I/E, N-I/I, N-I/M, N-I/S)............... — — NI.613c Signatory: W. F. Scott (on prefix N-I/B, N-I/F, N-I/J, N-I/N, N-I/T) .. — — NI.613d Signatory: A. P. Tibbey (on prefix N-I/C, N-I/G, N-I/K, N-I/O) ............ — — NI.613e Signatory: J. E. Forde (on prefix N-I/R) ................. — — Prefix N-I dated 1.9.1937 B to prefix N-I dated 1.11.1943 ....................from £75 £130 T EF UNC
NI.614 Signatory: E. D. Hill Prefix N-I dated 1.10.1968 .................................... £80 U NI.615a Signatory: W. S. Wilson Prefix D dated 1.7.1970 ......................................... £85 NI.615b Signatory: H. M. Gabbey Prefix D dated 1.10.1971 ....................................... £85 NI.615c Signatory: J. B. Newland Prefix D dated 1.7.1974 and 1.1.1976 .................. £40 NI.615d Signatory: W. Ervin Prefix D dated 1.4.1982 ......................................... £35 NI.615e Signatory: J. Roberts Prefix D dated 3.2.1986 ......................................... £35 NI.616 Signatory: S.H.Torrens (Chief Executive) Prefix A dated 24.8.1988 to 24.8.1990 .................. £18 Prefix Z—replacement note ................................. £50 NI.617 Signatory: D. Price (Chief Executive) Prefix MM dated 8.10.1999 .................................. £10 Prefix Y2K dated 1.1.2000, issued in a presentation pack. ............................. £12 Prefix N (replacement notes) ............................... £85
F
£120 £150 £150 £70 £60 £60 £35 £85 £25 £35 £180 VF
TEN POUNDS NI.621 Signatory: handsigned Prefix A dated 1.3.1920 (but issued on or after 6th May 1929)................... — Rare
Coin news
75
Banknote prices F
VF
NI.622 Signatory: handsigned Prefix B dated 10.10.1921 (but issued on or after 6th May 1929)................... — Rare NI.623a Signatory: handsigned Prefix N-I dated 1.1.1930 A to prefix N-I dated 1.1.1940 ........................from £70 £140 E VF
EF
NI.623b Signatory: W. F. Scott (on prefix N-I/F, N-I/J) ..... — — NI.623c Signatory: A. P. Tibbey (on prefix N-I/G, N-I/K) . — — NI.623d Signatory: F. W. White (on prefix N-I/H, N-I/L) . — — NI.623e Signatory: H. J. Craig (on prefix N-I/I, N-I/N) .... — — NI.623f Signatory: J. E. Forde (on prefix N-I/M) ................ — — Prefix N-I dated 1.8.1940 F to prefix N-I dated 1.11.1943 ................................ £95 £160 N NI.623g Signatory: E. D. Hill Prefix N-I dated 1.10.1968 ................................... £85 £150 OO EF UNC
NI.624a Signatory: W. S. Wilson Prefix E dated 1.7.1970........................................ £150 NI.624b Signatory: H. M. Gabbey Prefix E dated 1.10.1971...................................... £150 NI.624c Signatory: J. B. Newland Prefix E dated 1.7.1975 to 1.1.1978 .................... £100 NI.624d Signatory: W. Ervin Prefix E dated 1.3.1981 and 1.4.1982 ................... £75 NI.624e Signatory: J. Roberts Prefix E dated 2.1.1985 to 2.3.1987 ...................... £60 NI.624f Signatory: S. H. Torrens Prefix E dated 15.6.1988........................................ £60 NI.625a Signatory: S.H.Torrens (Chief Executive) Prefix B dated 24.8.1988 to 24.8.1993 .................. £45 Prefix Z—replacement note. ................................ £90 NI.625b Signatory: J.R.Wright (Chief Executive) Prefix B dated 30.8.1996........................................ £40 Prefix Z—replacement note ................................. £90 NI.626a Signatory: G. Savage (Chief Executive) Prefix BA and BB dated 24.2.1997 ....................... £25 Prefix ZZ—replacement note. ............................. £80 NI.626b Signatory: D. Price (Chief Executive) Prefix BC dated 8.10.1999 ..................................... £25 Prefix ZZ—replacement note .............................. £80 NI.627 Signatory: D. Price (Chief Executive) Prefix BD dated 29.4.2004..................................... £45 Prefix ZZ—replacement note. ............................... — NI.628 Signatory: D. Price (Chief Executive) Prefix GE and GF dated 19.1.2005......................... — Prefix YY—replacement note. ............................... — NI.629 Signatory: G. Mallon (Chief Executive) Prefix GG dated 9.11.2008 and ongoing. .............. — Prefix YY—replacement note. ............................. £30
F
£350 £350 £180 £120 £90 £90 £70 £150 £60 £150 £35 £140 £35 £140 £75 Rare £25 £60 £18 £45 VF
TWENTY POUNDS NI.631 Signatory: Handsigned Prefix A dated 20.10.1921 (but issued on or after 6th May 1929)............... £650 £1250 EF UNC
NI.632a Signatory: W. S. Wilson Prefix F dated 1.7.1970 ........................................ £280 NI.632b Signatory: W. Ervin Prefix F dated 1.3.1981 and 1.12.1984 ............... £130 NI.632c Signatory: J. Roberts Prefix F dated 2.3.1987 ....................................... £110 NI632d Signatory: S. H. Torrens Prefix F dated 15.6.1988 ........................................ £80 NI.633a Signatory: S.H.Torrens (Chief Executive) Prefix C dated 24.8.1988 to 24.8.1993 .................. £65 Prefix Z—replacement note ............................... £150
— £220 £190 £150 £100 —
EF UNC
NI.633b Signatory: J.R.Wright (Chief Executive) Prefix C dated 30.8.1996. ...................................... £50 £85 Prefix Z—replacement note ............................... £150 £220 NI.634a Signatory: G. Savage (Chief Executive) Prefix CA and CB dated 24.2.1997 ...................... £40 £55 Prefix ZZ—replacement note ............................ £100 — NI.634b Signatory: D. Price (Chief Executive) Prefix CB to CD dated 8.10.1999 ......................... £35 £50 Prefix ZZ—replacement note ............................ £100 — NI.635 Signatory: D. Price (Chief Executive) Prefix NB dated 1.9.1999 ...................................... £45 £65 NI.636 Signatory: D. Price (Chief Executive) Prefix HE dated 19.1.2005 to prefix HG dated 6.11.2006......................................................... — £40 Prefix YY—replacement note. ............................. £65 £85 F
VF
VF
EF
FIFTY POUNDS NI.641a Signatory: Handsigned (usually S. W. Knox) No prefix letter, red serial numbers— dated 5.8.1914 ........................................................from £750 NI.641b Signatory: Handsigned (usually H. J. Craig) No prefix letter, black serial numbers—dated 25.4.1918 from £700 NI.642a Signatory: Handsigned Prefix N-I dated 1.1.1943 ................................... £650 £1200 A Letters in central panel on the reverse changed to “NBL”.
EF UNC
NI.642b Signatory: Handsigned Prefix N-I dated 1.10.1968 .................................. £600 B NI.643a Signatory: W. S. Wilson Prefix G dated 1.7.1970 ....................................... £450 NI.643b Signatory: J. B. Newland Prefix G dated 1.1.1975 (only 4000 issued) ...... £550 NI.643c Signatory: W. Ervin Prefix G dated 1.3.1981 ....................................... £260 NI.644 Signatory: S. H. Torrens (Chief Executive) Prefix D dated 1.11.1990. .................................... £130 NI.645 Signatory: D. Price (Chief Executive) Prefix DA dated 8.10.1999 .................................. £100 Prefix ZZ—replacement note. ........................... £200 NI.646 Signatory: D. Price (Chief Executive) Prefix JB dated 19.1.2005. ....................................... — Prefix YY—replacement note ............................ £150
£1100 — — £450 £180 £140 — £95 £220
F
VF
VF
EF
ONE HUNDRED POUNDS NI.651 Signatory: handsigned No prefix letter—dated 2.6.1919 ....................... £750 £1250
NI.652a Signatory: handsigned Prefix N-I dated 1.1.1943 ................................... £850 £1350 A NI.652b Signatory: handsigned Prefix N-I dated 1.10.1968 ................................. £750 £1250 BB
EF UNC
NI.653a Signatory: W. S. Wilson Prefix H dated 1.7.1970 ....................................... £550 NI.653b Signatory: H. M. Gabbey Prefix H dated 1.10.1971 ..................................... £550 NI.653c Signatory: J. B. Newland Prefix H dated 1.1.1975 to 1.2.1977 ................... £350 NI.653d Signatory: W. Ervin Prefix H dated 1.10.1978 and 1.1.1980 .............. £300 NI.654 Signatory: S. H. Torrens (Chief Executive) Prefix E dated 1.11.1990 ...................................... £250 NI.655 Signatory: D. Price (Chief Executive) Prefix EA dated 8.10.1999 ....................................... — NI.655 Signatory: D. Price (Chief Executive) Prefix KB dated 19.1.2005 ....................................... —
Coming next month: Price guide to Provincial Bank of Ireland Ltd and Ulster Bank Ltd
— — £550 £500 £350 £250 £190
$UJHQWXP DQG &RLQV 6SHFLDOLVLQJ LQ %ULWLVK PLOOHG FRLQV IURP WR GDWH 9DOXDWLRQ VHUYLFH DYDLODEOH IRU LQVXUDQFH RU SUREDWH
-RKQ 6WHSKHQVRQ
5RZ )RRW 6RZHUE\ 5RZ &DUOLVOH &XPEULD &$ 4* 7HO
:HEVLWH ZZZ DUJHQWXPDQGFRLQV FR XN (PDLO MRKQ#VWHSKHQVRQ IVEXVLQHVV FR XN
DORSET COIN CO LTD 193 ASHLEY ROAD PARKSTONE POOLE - DORSET BH14 9DL
Tel: (01202) 739606 Fax: (01202) 739230 Website: www.dorsetcoincompany.co.uk E-Mail: sales@dorsetcoincompany.co.uk
We issue regular sales lists of:
â&#x20AC;¢ British Coins â&#x20AC;¢ Gold Coins â&#x20AC;¢ Foreign Coins â&#x20AC;¢ Banknotes PLEASE TELEPHONE OR WRITE FOR A COPY June 2011
www.tokenpublishing.com
Coin News
77
.0<:,77, 40*,30 *605 (5+ 4,+(3 *,5;9,
)(5;: 3(5, +<:;65 569;/(47;65 55 (/ ;,3,7/65, -(?! ,:;()30:/,+ *605 +,(3,9 :05*, 9,.5 5V /6<9: 6- )<:05,:: (4 74 465 :(; +(@: (7796=(3 *(:/ 69 */,8<, >0;/ 69+,9 73,(:, (336> +(@: */,8<, *3,(9(5*, 7 7 :7,*0(3 +,30=,9@ Â&#x2030; 9,*69+,+ Â&#x2030; @6<9 90:2 *(33,9: >,3*64, )@ (77605;4,5; 653@ 73,(:, >6<3+ (33 *<:;64,9: 7905; ;/,09 5(4, (++9,:: 05 )36*2 *(70;(3: ;6 (=60+ 40:;(2,: 4LTILY 6 4 9 : 5V )5;(
³ $ VHOHFWLRQ RI FRLQV IRU VDOH VXEMHFW WR EHLQJ XQVROG ³
*2/' 3522) &2,16 ,1 25,*,1$/ 50 %2;(6 )'& *2/' 6(76 Â&#x2026; GRZQ Â&#x2026;
WR PDUNHW Ã&#x20AC; XFWXDWLRQV 3OHDVH SKRQH PH WR FKHFN SULFHV DYDLODELOLW\ EHIRUH RUGHULQJ 7KDQN \RX
*2/' Â&#x2026; 3522) Â&#x2026; Â&#x2026;
&52:16 9*) (GJH 6HFXQGR 2EY GLH FUDFN RYHU *,86 VPDOO HN Â&#x2026; ) Â&#x2026; $) ) Â&#x2026; ) /9,, Â&#x2026; *9) Â&#x2026; %8 ER[ Â&#x2026; 81& ER[ Â&#x2026; 81& Â&#x2026; $() Â&#x2026; ) *) Â&#x2026; $() Â&#x2026; ) Â&#x2026; 81& Â&#x2026; 81& Â&#x2026; 3URRI )'& &DVHG FHUW Â&#x2026; 81& Â&#x2026; 3URRI )'& 8QFDVHG 1R FHUW Â&#x2026; 81& Â&#x2026; 3URRI )'& &DVHG &HUW Â&#x2026; 81& Â&#x2026;
3522) 629(5(,*16 )'& Â&#x2026; )'& Â&#x2026; )'& Â&#x2026; )'& Â&#x2026; *2/' 3 3522) /LEUDULHV Â&#x2026; *2/' Â&#x2026; 3,(&(6 ER[ &HUW %8 Â&#x2026; *2/' Â&#x2026; 3,(&(6 ([ PRXQW RQ HGJH REY $OVR REY SROLVKHG RWKHUZLVH 9) Â&#x2026; *8,1($6 : 0 VPDOO (. 6 9*) Â&#x2026; 629(5(,*16 <+ $9) 9) Â&#x2026; 0 <+ *9) Â&#x2026; 0 <+ 9) *9) Â&#x2026; 6 <+ *9) Â&#x2026; 0 <+ *9) $() Â&#x2026; 0 -+ *9) Â&#x2026; -+ VPDOO (. $9) Â&#x2026; 2+ *9) Â&#x2026; 2+ *9) Â&#x2026; 6 2+ $81& Â&#x2026; 2+ *9) Â&#x2026; *9) Â&#x2026; 9) (. Â&#x2026; 0 () *() Â&#x2026; *9) Â&#x2026; 9) Â&#x2026; $() Â&#x2026; () *() Â&#x2026; () *() Â&#x2026; () *() Â&#x2026; () *() Â&#x2026; 6$ () Â&#x2026; 6$ *9) (. Â&#x2026; 81& Â&#x2026; 81& Â&#x2026; +$/) 629(5(,*16 <+ $) ) Â&#x2026; -+ $() () Â&#x2026; -+ *9)[ Â&#x2026; -+ ) $*) Â&#x2026; 2+ 9*) Â&#x2026; 2+ 9*) Â&#x2026; 2+ *9) Â&#x2026; 2+ 9) Â&#x2026; 2+ *) 9*) Â&#x2026; 9) Â&#x2026; 9) Â&#x2026; *9) Â&#x2026; 9) Â&#x2026; *9) Â&#x2026; *9) Â&#x2026; $() () Â&#x2026; *9) Â&#x2026; *9) $() Â&#x2026; $() Â&#x2026; $() () Â&#x2026; 6 81& Â&#x2026; 81& Â&#x2026; 49 2I¿ FLDO &RURQDWLRQ *ROG 0HGDO E\ % 3LVWUXFFL 0LQWDJH RI PP JPV VPDOO (. 1LFH *() RU EHWWHU Â&#x2026; -HUVH\ *ROG 3URRI Â&#x2026; &RLQ FW JPV 7KH 5R\DO %ULWLVK /HJLRQ *ROG 3RSS\ &RLQ WK $QQL RI WKH HQGLQJ RI 7KH VW :RUOG :DU &DVHG ZLWK FHUW (GLWLRQ /LPLW )'& Â&#x2026; 2WKHU *ROG &RLQV $XVWULD &RURQD $() Â&#x2026; ¤ ,WDOLDQ 6WDWHV 9HQLFH =HFFKLQR /XGRY 0DQLQ (N $9) 9) Â&#x2026; 6RXWK $IULFD .UXJHUUDQG 325 R] Â&#x2026; R] Â&#x2026; 2QH 3RQG *() $81& Â&#x2026; 7ZR 5DQG 81& Â&#x2026; 6SDLQ +DOI (VFXGR )HUGLQDQG 9, 0P 0 $9) 9) Â&#x2026; 3OHDVH QRWH WKDW DOO SULFHV DUH VXEMHFW
78
Coin News
+$/)&52:16 )RUJHU\ LQ" 7UDFH RI OXVWUH *9) Â&#x2026; )5 3225 Â&#x2026; $) )5 Â&#x2026; $) ) Â&#x2026; $) ) Â&#x2026; $) ) Â&#x2026; *) (. Â&#x2026; $) ) Â&#x2026; 1LFH ) Â&#x2026; $) )5 Â&#x2026; $81& Â&#x2026; $81& Â&#x2026; 81& Â&#x2026; 2 KDOIFURZQV WR ) WR *) DQG EHWWHU SHU Â&#x2026; )/25,16 () *() Â&#x2026; () *() Â&#x2026; 'LH $) Â&#x2026; 'LH $) )5 Â&#x2026; 1R 'LH 1R ) H[WUHPHO\ UDUH Â&#x2026; $) ) Â&#x2026; -+ ) Â&#x2026; $) ) Â&#x2026; *) WRQHG Â&#x2026; $) Â&#x2026; ) $) Â&#x2026; 'LH FUDFNV RQ UHY DW R¶FORFN R ZLVH () *() Â&#x2026; () *() Â&#x2026; 1LFH *) Â&#x2026; ) )5 Â&#x2026; ) Â&#x2026; *) Â&#x2026; *9) Â&#x2026; 9*) 9) Â&#x2026; *9) Â&#x2026; 3URRI %8 Â&#x2026; 2WKHU )ORULQV ) *9) DQG EHWWHU SHU Â&#x2026; 7HQ 1HZ 3HQFH ) *9) SHU Â&#x2026; 6+,//,1*6 VW EXVW YDULHW\ 6 1LFH 9*) Â&#x2026; () *() Â&#x2026; *() $81& REY GLH Ã&#x20AC; DZ RQ EDFN RI KHDG Â&#x2026; ) $) Â&#x2026; 9*) )RUJHU\ LQ EUDVV Â&#x2026; ) )RUJHU\ LQ EUDVV Â&#x2026; $81& Â&#x2026; UG UHY ) *) Â&#x2026; ) *) Â&#x2026; ) Â&#x2026; 'LH )5 Â&#x2026; 'LH $) Â&#x2026; ) $) Â&#x2026; -+ ) *) Â&#x2026; $) Â&#x2026; $) ) Â&#x2026; ) Â&#x2026; $) Â&#x2026; ) Â&#x2026; 1LFH 9*) Â&#x2026; ) Â&#x2026; ) *) Â&#x2026;
$) )5 Â&#x2026; 9*) $9) (. Â&#x2026; ) *) Â&#x2026; $) ) Â&#x2026; ) $) Â&#x2026; ) Â&#x2026; $9) Â&#x2026; $9) Â&#x2026; 9) *9) Â&#x2026; 0( *9) $() Â&#x2026; QG *) 9) Â&#x2026; *9) Â&#x2026; 0( 9) Â&#x2026; $() () Â&#x2026; 9) Â&#x2026; *9) Â&#x2026; *9) $() Â&#x2026; 6 3U )'& Â&#x2026; 2WKHU 6KLOOLQJV ± ) *9) SHU Â&#x2026; )LYH 1HZ 3HQFH ± ) *9) SHU Â&#x2026; 6,;3(1&(6 *9) Â&#x2026; -+ $() ZLWKGUDZQ Â&#x2026; -+ 9*) ZLWKGUDZQ Â&#x2026; -+ $) ) ZLWK G Â&#x2026; *9) Â&#x2026; $) Â&#x2026; 9*) Â&#x2026; ) $) Â&#x2026; ) Â&#x2026; ) Â&#x2026; *) Â&#x2026; *9) Â&#x2026; *9) $() Â&#x2026; $9) 9) Â&#x2026; 0( *9) Â&#x2026; *9) Â&#x2026; *9) Â&#x2026; ) *) Â&#x2026; 2WKHU 6L[SHQFHV ) *9) SHU Â&#x2026; 0$81'< 021(< G )'& Â&#x2026; G 9) Â&#x2026; G )'& Â&#x2026; G )'& Â&#x2026; G )'& Â&#x2026; 6,/9(5 GV ) Â&#x2026; ) $) Â&#x2026; () Â&#x2026; *) Â&#x2026; () 7RQHG Â&#x2026; *() Â&#x2026; %5$66 GV $81& Â&#x2026; ) *) Â&#x2026; ) *) Â&#x2026; 81& Â&#x2026; 2WKHU EUDVV GV ) *9) SHU Â&#x2026; &$57:+((/ GV *) 5HY 7ZR NQRFNV Â&#x2026; 3(11,(6 $) )5 Â&#x2026; )5 Â&#x2026; ) Â&#x2026; ) $) Â&#x2026; & ' Â&#x2026; ) $) Â&#x2026; ) $) Â&#x2026; ) $) Â&#x2026; $) )5 Â&#x2026; $) Â&#x2026; + ) Â&#x2026; + $) Â&#x2026; ) $) Â&#x2026; ) $) Â&#x2026; ) $) Â&#x2026; $) Â&#x2026; ) Â&#x2026; ) $) Â&#x2026; ) $) Â&#x2026; ) $) Â&#x2026; .1 ) Â&#x2026; 0( (. Â&#x2026; $81& Â&#x2026; 81& Â&#x2026; $) ) (. Â&#x2026; 3U %8 Â&#x2026; ) *) Â&#x2026; 2WKHU 3HQQLHV ) *) SHU
Â&#x2026; 3HQQLHV ) 9) SHU Â&#x2026;
+$/)3(11,(6 9) $9) 'LH FUDFN RQ UHY Â&#x2026; $) )5 Â&#x2026; 'LIIHUHQW REY SUR¿ OH *) 9*) Â&#x2026; 9*9) 7 RI OXVWUH Â&#x2026; 9) Â&#x2026; *) Â&#x2026; $) Â&#x2026; *) Â&#x2026; $) Â&#x2026; $) Â&#x2026; $81& Â&#x2026; $81& Â&#x2026; 81& Â&#x2026; 81& Â&#x2026; R KDOISHQQLHV ) 9) SHU Â&#x2026; +DOI 1HZ 3HQQ\ ) ± () SHU Â&#x2026; )$57+,1*6 RYHU *) Â&#x2026; *() ZLWK VRPH OXVWUH Â&#x2026; *) Â&#x2026; ) Â&#x2026; ) Â&#x2026; ) Â&#x2026; ) *) Â&#x2026; $) ) Â&#x2026; ) Â&#x2026; ) Â&#x2026; ) Â&#x2026; 9*) Â&#x2026; 2 )DUWKLQJV *9 *9, ) *) SHU Â&#x2026; 81& 6(76 (7& ,1 25,* 50 )2/'(5 SODVWLF VHW FRLQV 81& Â&#x2026; LQ ZDOOHW FRLQV 81& Â&#x2026; S WR òS FRLQV LQ IROGHU 81& Â&#x2026; Â&#x2026; WR S FRLQV LQ IROGHU 81& Â&#x2026; %DE\ 6HW Â&#x2026; WR S FRLQV LQ IROGHU %8 Â&#x2026; [ Â&#x2026; 5R\DO $UPV Â&#x2026; WR S FRLQV ZLWK /RQ 2O\PSLF &HQWHQDU\ Â&#x2026; FRLQ 81& Â&#x2026; 3522) 6(76 ,1 25,* 50 &$6(6 2) ,668( )'& Â&#x2026; WRQHG Â&#x2026; Â&#x2026; WRQHG Â&#x2026; WRQHG Â&#x2026; WRQHG Â&#x2026; WRQHG Â&#x2026; WRQHG Â&#x2026; 5HG Â&#x2026; Â&#x2026; Â&#x2026; 81& Â&#x2026; &2,16 40 ,Q EOLVWHU %8 Â&#x2026; 81& Â&#x2026; * : 81& Â&#x2026; 40 81& Â&#x2026; * - 81& Â&#x2026; * - ,Q IROGHU %8 Â&#x2026; 6,/9(5 3522) Â&#x2026; &2,16 40 8QFDVHG 1R FHUW )'& Â&#x2026; 6,/9(5 3522) Â&#x2026; &2,16 ,1 25,* 50 %2;(6 2) ,668( :,7+ &(57 )'& Â&#x2026; 0DUFRQL 3LHGIRUW )'& Â&#x2026; 6,/9(5 3522) Â&#x2026; &2,16 ,1 25,* 50 %2;(6 2) ,668( :,7+ &(57 )'& 5R\DO $UPV 3LHGIRUW Â&#x2026; 5R\DO $UPV Â&#x2026; 1 ,UHODQG Â&#x2026; 1 , 3LHGIRUW Â&#x2026; (QJOLVK 8QFDVHG ZLWK FHUW Â&#x2026; :HOVK 3LHGIRUW Â&#x2026; 1 , 3LHGIRUW Â&#x2026; 6LOYHU 3URRI 6FRWWLVK 3LHG 6LOYHU 3URRI :HOVK 3LHGIRUW ERWK ZLWK FHUW ,Q 5R\DO 0LQW FDVH WR KRXVH 3LHGIRUWV Â&#x2026; &RLQV 7KH SDLU Â&#x2026; 6,/9(5 3522) S &2,1 ,1 25,* 50 %2;(6 2) ,668( : &(57 )'& 3LHGIRUW Â&#x2026; /LEUDULHV 3LHGIRUW Â&#x2026; 6,/9(5 3522) %5,7$11,$ ,1 25,* 50 %2;(6 2) ,668( :,7+ &(57 )'& S FRLQ Â&#x2026;
7KH (1*/$1' 6LOYHU &RLQ &ROOHFWLRQ WK $QQLYHUVDU\ 7KH 6HW RI 6LOYHU 3URRI &RLQ FRQVLVWV RI [ *LEUDOWDU Â&#x2026; &RLQV -HUVH\ Â&#x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¿ FDWH 7RWDO RI JUDPV VLOYHU 6LOYHU JUDPV FDVHG )'& Â&#x2026; )285 3,(&(6 6,/9(5 7($ 6(7 7HDSRW 6XJDU %RZO 0LON -XJ + PDUNHG 6KHI¿ HOG ; %\ 6WHZDUW 'DZVRQ /WG 5HJHQW 6WUHHW : +RW :DWHU -XJ $OVR KDOOPDUNHG 6KHI¿ HOG ; E\ &KDUOHV +DW¿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Â&#x2026; &DPHR EURRFK PRXQWHG LQ XQKDOOPDUNHG JROG Â&#x2026; 6LOYHU 7KLPEOH 6WHUOLQJ 6LOYHU Â&#x2026; 9$5,286 72.(16 (7& 8QGDWHG 1RUWKDPSWRQ :HVWHQG &RRS 6RFLHW\ %UHDG %\ & < ,OLIIH %LUP 2YDO VKDSH VDPH ERWK VLGHV [ PP ,Q FRSSHU $) ) Â&#x2026; 8QGDWHG 1RUWKDPSWRQ &RRSHUDWLYH 6RF\ /WG %UHDG E\ $UGLOO /HHGV SUH ::, 2YDO VKDSH VDPH ERWK VLGHV [ PP ,Q FRSSHU *) 9) Â&#x2026; 8QGDWHG 1RUWKDPSWRQ &R 2S 6RF /WG 6PDOO /RDI 6DPH ERWK VLGHV PP : PHWDO 9) *9) Â&#x2026; 4XHHQ 9LFWRULD -XELOHH &URVV 5G 1R 6KDSH &URVV SDWWHH ,QVFULEHG %RUQ &URZQHG 0DUULHG -XELOHH 5HY 7K\ &KRLFHVW *LIWV ,Q 6WRUH 2Q +HU 3OHDVHG 7R 3RXU /RQJ 0D\ 6KH 5HLJQ 0D\ 6KH 'HIHQG 2XU /DZV HWF HWF ,Q EUDVV [ PP 9) *9) Â&#x2026; 8QGDWHG $OEHUW 3ULQFH (GZDUG RI :DOHV PP ,Q FRSSHU *9) Â&#x2026; +5+ 3ULQFHVV &KDUORWWH 5HY %ULWDQQLD 0RXHQV +HU 3ULQFHVV 'HDG 'LHG 1RY $JHG PP ,Q EUDVV PLQW OXVWUH $() Â&#x2026; 4XHHQ 9LFWRULD 0HGDOHW 7R +DQRYHU PP ,Q EUDVV PLQW OXVWUH () Â&#x2026; 8QGDWHG $OEHUW 0HPRULDO 7RZHU %DUQVWDSOH PP ,Q 6LOYHU *9) Â&#x2026; ² 4XHHQ 9LFWRULD 'LDPRQG -XELOHH 0HGDOOLRQ %\ 7 %URFN PP ,Q VLOYHU 9) Â&#x2026; .LQJ *9 4XHHQ 0DU\ &RURQDWLRQ -XQH 1RUWKDPSWRQ 6 <DUGH 0D\RU PP %UDVV 0,17 Â&#x2026; $ .LQJ *9 4XHHQ 0DU\ &RURQDWLRQ -XQH 1RUWKDPSWRQ 6 <DUGH 0D\RU PP %UDVV 9) Â&#x2026; % .LQJ *9 4XHHQ 0DU\ &2521$7,21 -XQH 1RUWKDPSWRQ 6 <DUGV 0D\RU PP %UDVV ) *) Â&#x2026;
www.tokenpublishing.com
June 2011
*9 4XHHQ 0DU\ VLOYHU -XELOHH 0HGDO $VFHQGHG 7KURQH WK 0D\ +ROHG PP LQ OHDG 9) Â&#x2026; &DQDGLDQ $VVRFLDWLRQ RI .LQVPHQ &OXEV *ROGHQ $QQLYHUVDU\ )HE \HDUV RI 6HUYLQJ &DQDGLDQ &RPPXQLWLHV PP ,Q FRSSHU 0,17 Â&#x2026; 8QGDWHG 6SRUWVFDVWHU 0HGDO &KDPSLRQ 0DGH ,Q 86$ PP ,Q EUDVV *9) () Â&#x2026; 8QGDWHG 6 *HRUJHV (TXLYLXP 3DWURQXV 6DPH ERWK VLGHV PP ,Q FRSSHU *9) Â&#x2026; 0HGDO 7RNHQ [ SDUW RI 6HULHV FDOOHG ³%LUGV RI 'HVWLQ\´ E\ 0LFKDHO $SSOHE\ PP PP LQ FRSSHU [ DV SDLU *() Â&#x2026; 5($'(5¶6 ',*(67 7RNHQV [ SLHFHV [ ,QJRWV PP [ PP 5($'(5¶6 ',*(67 PP [ PP 5' PP 5($'(5¶6 ',*(67 $VVRFLDWLRQ /LPLWHG PP YDOXH Â&#x2026; 7KDQN \RX 7RNHQ PP $OO VDPH ERWK VLGHV () 81& Â&#x2026; 8QGDWHG 2EY 9LFWRULD 5HJLQD 5HY EODQN PP +ROHG LQ EUDVV *) Â&#x2026; 8QGDWHG 4XHHQ 9LFWRULD 0RGHO 3HQQ\ VLOYHU FHQWUH PP *9) Â&#x2026; $ 8QGDWHG 4XHHQ 9LFWRULD 0RGHO 3HQQ\ VLOYHU FHQWUH PP *) $9) Â&#x2026; 4XHHQ (OL]DEHWK ,, &URZQHG -XQH 5HY ,VVXH E\ 7KH 1DWLRQDO 3OD\LQJ )LHOG $VVRFLDWLRQ 3UHVLGHQW 7KH 'XNH RI (GLQEXUJK PP ,Q QLFNHO" 0,17 Â&#x2026; .LQJ *HRUJH 9 4XHHQ 0DU\ 6LOYHU -XELOHH 0HGDO 5HY ZUHDWK ZLWK ULEERQ PP Z PHWDO () Â&#x2026; 1RUWKDPSWRQ (GXFDWLRQ $XWKRULW\ $ZDUG IRU $WWHQGDQFH *RRG &RQGXFW 6DLQW -DPHV 6FKRRO PP :LWK EOXH ULEERQ VXVSHQGHU LQ FDUG ER[ RI LVVXH ,Q Z PHWDO 0,17 Â&#x2026; $ 1RUWKDPSWRQ (GXFDWLRQ a$XWKRULW\ $ZDUGHG IRU $WWHQGDQFH *RRG &RQGXFW .LQJVWKRUSH *UDYH 6FKRRO :LWK EOXH ULEERQ VXVSHQGHU () Â&#x2026; 6RXYHQLU 0HGDO 6LOYHU -XELOHH PP ,Q 1LFNHO FDVHG 81& Â&#x2026; $ 4XHHQ (OL]DEHWK ,, 6LOYHU -XELOHH 0HGDO ,Q VLOYHU PP JPV 81& Â&#x2026; 8QGDWHG 6DIH 'ULYLQJ &RPSHWLWLRQ 7KH 5R\DO 6RFLHW\ IRU WKH SUHYHQWLRQ RI DFFLGHQWV \HDUV GULYHUV DZDUG ZLWK EDU 7ULDQJOH LQ FHQWUH HQDPHO 5HG [ PP ,Q Z PHWDO ZLWK ULEERQ 5HY )DWWRULQL 6RQV /WG %UDGIRUG :RUNV %LUPLQJKDP *9) Â&#x2026; $ 8QGDWHG 7KH 5R\DO 6RFLHW\ IRU WKH 3UHYHQWLRQ RI DFFLGHQWV 6DIH 'ULYLQJ $ZDUG &URVV ZLWK EDU VW <HDU WRS EDU 1R PP :LWK ULEERQ VXVSHQGHU %URQ]H 9) Â&#x2026; 3REMR\ 0LQW /WG 0HGDO 5R\DO 6LOYHU -XELOHH PP 7KH 3ULRULW\ &ROOHFWRUV 5HJ 0,17 Â&#x2026; 8QGDWHG :HOOV &DWKHGUDO 5HY 6HDO RI 7KH 'HDQ &KDSWHU RI :HOOV 8VHG ,Q 7KH WK &HQWXU\ PP ,Q EURQ]H FDVHG 81& Â&#x2026; (XURSHDQ )RRWEDOO &KDPSLRQVKLS 8()$ (852 (QJODQG PP *ROG SODWHG E\ /LEHUW\ 0LQW /LPLWHG (GLWLRQ &DVHG ZLWK FHUW )'& Â&#x2026; 5R\DO 0DLO 1HZ ,GHQWLW\ 0HGDO 5HY WK 0D\ 3RVWDJH 2QH 3HQQ\ WK 0D\ PP ,Q QLFNHO FDVHG 81& Â&#x2026; 8QGDWHG 2EY +5+ 7KH 3ULQFH RI :DOHV +5+ 7KH 3ULQFHVV $OH[DQGUD 5HY 7KH 3ULQFH RI :DOHV %RUQ 1RY 0DUULHG 0DUFK DW 6W *HRUJHV &KDSHO :LQGVRU WR +5+ $OH[DQGUD 3ULQFHVV RI 'HQPDUN %RUQ 'HF PP ,Q OHDG (.6 $) ) Â&#x2026; 2EY /8':,* G ,81*(5 *5$) / '(6 $/7(51 9 =,1=(1'25) 62+1 *(% 0$4< 68&((' 6(,1(0 %5 '(& $%',& 0DUW 5HY 9(56&+,(' 0$< :$+/ 6358&+ +(55 '85&+ '(,1 %/87 9(5*,(66(1 /$66 0,&+ '(,1 (,*(1 6(<6 62 +$% ,&+ $//¶6 $8) (5'(1 %\ 7 (5167 ,Q Z PHWDO" PP 6PDOO (.6 1LFH 9*9) Â&#x2026; &RURQDWLRQ RI .LQJ *HRUJH 9, 4XHHQ (OL]DEHWK 5HY &URZQHG DW :HVWPLQVWHU $EEH\ WK 0D\ PP ,Q Z PHWDO *9) Â&#x2026; 3ULQFH &KDUOHV /DG\ 'LDQD :HGGLQJ 5HY 6W 3DXO¶V &DWKHGUDO WK -XO\ PP ,Q EURQ]H FDVHG 81& Â&#x2026; 'DQLHO 'HIRH :KR )LUVW :URWH RI 7KULIW LQ 5HY 7UXVWHH 6DYLQJV %DQN :HHN PP ,Q EURQ]H 81& Â&#x2026; ² 6$;21< )DPLQH 0HGDO PP ,Q WLQ KROHG ,W JLYHV D IRRG UHFLSH $) *) Â&#x2026; *HRUJH 9 2I¿ FLDO 6LOYHU -XELOHH 0HGDO %\ 3 0HWFDOIH PP ,Q 5HG %R[ RI ,VVXH :LWK FDUG UHDGV WK 0D\ 7KH DFFRPSDQ\LQJ ³)LQH 6LOYHU´ -XELOHH 0HGDO PRGHOOHG IURP OLIH E\ 0U 3HUF\ 0HWFDOIV DQG VWUXFN DW WKH 5R\DO 0LQW /RQGRQ ,W VHQW DV D VRXYHQLU JLIW WR XQQDPHG *() Â&#x2026; 7R &RPPHPRUDWH 7KH -XELOHH 7KH 5HLJQ RI 4XHHQ 9LFWRULD 5HY %RURXJK RI :LJDQ +HQU\ 3DUN 0D\RU PP ,Q : PHWDO 1LFH *9) Â&#x2026; (OL]DEHWK ,, 5HY 7R &RPPHPRUDWH WKH &RURQDWLRQ RI +HU 0DMHVW\ PP : PHWDO *9) Â&#x2026; +0 4XHHQ (OL]DEHWK 7KH 4XHHQ 0RWKHU WK %LUWKGD\ &RPPHPRUDWLYH 0HGDO PP ,Q QLFNHO FDVHG 81& Â&#x2026; 8QGDWHG 2EY *HRUJH ,,, *RG 3URWHFWV 7KH -XVW 5HY )HDU *RG +RQRXU 7KH .LQJ %\ .HWWOH PP ,Q EUDVV ) *) Â&#x2026; 8QGDWHG 2EY 9LFWRULD 5HJLQD 5HY 5HFKHQ 3IHQQLQJ PP ,Q EUDVV *9) Â&#x2026; *HRUJH ,,, 6 7 5HY 0 ) (7 + 5(; ) ' % (7 / ' 6 5 , $7 (7( PP ,Q EUDVV 9) Â&#x2026; 8QGDWHG 6RYHUHLJQ :HLJKW ZLWK &URZQ VWDPSHG 5HY EODQN PP ,Q EUDVV YHUGLJULV *) Â&#x2026; 8QGDWHG +DOI 6RYHUHLJQ :HLJKW ZLWK &URZQ
June 2011
VWDPSHG 5HY EODQN PP %UDVV YHUGLJULV 9) Â&#x2026; 8QGDWHG &RLQ :HLJKW 3 * ZLWK &URZQ VWDPSHG VDPH ERWK VLGHV PP ,Q EUDVV 9) Â&#x2026; 8QGDWHG 3LHFH RI EUDVV UHDGV 6 VDPH ERWK VLGHV PP ,Q EUDVV 9) Â&#x2026; 8QGDWHG &RLQ :HLJKW UHDGV 3 * 6WDPSHG VDPH ERWK VLGHV PP ,Q EUDVV 9) Â&#x2026; 8QGDWHG Â&#x2026; " ( - / % 7ZR 6FUXSOHV VDPH ERWK VLGHV PP ,Q EUDVV ) *) Â&#x2026; 8QGDWHG G 1R /RQGRQ 6RQV 7UDGH 0DUN PP ,Q EUDVV 9) *9) Â&#x2026; 8QGDWHG G PP ,Q EUDVV *9) Â&#x2026; -RKQ 3LQFKHV 0HGDO WR &RPPHPRUDWH WKH HQWU\ RI WKH 8QLWHG .LQJGRP LQWR WKH ((& VL[ EHFRPH PP ,Q EURQ]H :LWK ER[ Q 3LQFKHV OHWWHU 81& Â&#x2026; 8QGDWHG 0HGDO 2EY 7KH $UFKHUV EXVW RI 'DQ 'RULV 5HY %%& 5DGLR 7KH $UFKHUV <HDUV :LWK 7KH $UFKHUV )DPLO\ 7UHHV 7KH $UFKHUV %%& 3XEOLFDWLRQ 0DU\OHERQH +LJK 6WUHHW /RQGRQ PP ,Q EURQ]H ,Q D %%& HQYHORSH 81& Â&#x2026; $ 5R\DO 0HPRUDELOLD $ WLQ ZLWK WKH EXVW RI 4XHHQ $OH[DQGUD +DQGZULWLQJ LQVLGH WKH WLQ ³ZLWK %HVW :LVKHV IURP $OH[DQGUD´ 7UDFHV RI EUDVV SODWHG 7LQ [ PP 1RW WRR EDG FRQGLWLRQ Â&#x2026; $ 6(/(&7,21 2) 72.(16 6+()),(/' 3HQQ\ 5RVFRH 3ODFH $) )5 Â&#x2026; +$/)3(11< 72.(16 %,50,1*+$0 ,QGXVWU\ +DV ,W¶V 6XUH 5HZDUG &XUUHQW (YHU\ ZKHUH $() Â&#x2026; 3UR 0H 6L 0HUHDU ,Q 0H 5HY 7KH /DQG :H /LYH ,Q (GJH LQ 'XOLLQ RU KDIROGV &URVV %XWWRQ HWF *) $9) Â&#x2026; +$036+,5( $ PDS RI )UDQFH 0D\ *UHDW %ULWDLQ (YHU 5HPDLQ 7KH 5HYHUVH HWF HWF $9) 9) Â&#x2026; 8QGDWHG 0,''/(6(; 1DWLRQDO 'XNH RI <RUN *9) Â&#x2026; 8QGDWHG 2EY %UXWXV 5HY %ULWDQQLD OHIW *) Â&#x2026; (*<37 3WROHP\ ,,, RU ,9 %& WR %& 7HWUDGUDFKP JPV EURQ]H PP (DJOH IDFLQJ ULJKW KHDG RI =HXV" *9) Â&#x2026; (1*/,6+ +$00(5(' &2,16 +(15< ,,, /RQJ &URVV 3HQQ\ /RQGRQ 0LQW 5LFDUG RQ /XQG *) Â&#x2026; (':$5' , /RQJ &URVV 3HQQ\ 'XUKDP 0LQW FUHDVHG D SLHFH PLVVLQJ )5 Â&#x2026; (':$5' , /RQJ &URVV 3HQQ\ $ SLHFH PLVVLQJ D VPDOO KROH ) Â&#x2026; +(15< 9, 5HVWRUHG *URDW /RQGRQ 0LQW 6SDGH PDUN RYHU QHFN 6 9) *9) Â&#x2026; (/,=$%(7+ , G WK LVVXH URVH GDWH KROHV RQH LV EURNHQ 2 ZLVH ) Â&#x2026; %$1. 2) (1*/$1' 127(6 / . 2%ULHQ Â&#x2026; 3UH¿ [ $ 81& Â&#x2026; - % 3DJH Â&#x2026; 3UH¿ [ $ 81& Â&#x2026; 3 6 %HDOH 3UH¿ [ < = $9) Â&#x2026; 3 6 %HDOH 3UH¿ [ ; = $9) Â&#x2026; / . 2¶%ULHQ 3UH¿ [ % < () $81& Â&#x2026; - 4 +ROORP 3UH¿ [ / *9) $() Â&#x2026; - 6 )IRUGH 3UH¿ [ 5 $9) Â&#x2026; - 6 )IRUGH 3UH¿ [ = () Â&#x2026; - 6 )IRUGH 3UH¿ [ = () Â&#x2026; - 6 )IRUGH 3UH¿ [ 8 81& Â&#x2026; - 6 )IRUGH 3UH¿ [ 0 $() Â&#x2026; - 6 )IRUGH 3UH¿ [ $ 1 81& Â&#x2026; - 6 )IRUGH 3UH¿ [ $ 1 81& Â&#x2026; - 6 )IRUGH 3UH¿ [ $ 1 81& Â&#x2026; - 6 )IRUGH 3UH¿ [ % 1 81& Â&#x2026; - 6 )IRUGH 3UH¿ [ % 1 81& Â&#x2026; - 6 )IRUGH 3UH¿ [ % 1 81& Â&#x2026; - 6 )IRUGH 3UH¿ [ & 1 81& Â&#x2026; - 6 )IRUGH 3UH¿ [ & 1 81& Â&#x2026; - 6 )IRUGH 3UH¿ [ & 1 81& Â&#x2026; - 6 )IRUGH 3UH¿ [ & 1 81& Â&#x2026; - 6 )IRUGH 3UH¿ [ & 1 81& Â&#x2026; - 6 )IRUGH 3UH¿ [ & 1 81& Â&#x2026; - 6 )IRUGH 3UH¿ [ ' 1 81& Â&#x2026; - 6 )IRUGH 3UH¿ [ ' Q 81& Â&#x2026; 9$5,286 )25(,*1 127(6 3(5 Â&#x2026; )25(,*1 &2,16 9DULRXV )RUHLJQ FRLQV SHU Â&#x2026; SOXV Â&#x2026; 3 3
2UH *) Â&#x2026; 2UH *) Â&#x2026; )5$1&( D 6ROV (.6 $) ) Â&#x2026; %% &HQWV $() Â&#x2026; : &HQWV *9) $() Â&#x2026; $ &HQWV $() ³ )5(1&+ ,1'2&+,1$ )('(5$7(' 67$7(6 ) )5(1&+ 81,21 3LDVWUH *9) Â&#x2026; *(50$1< )('(5$/ 5(38%/,& ) 0DUN *9) Â&#x2026; *(50$1< :(,0$5 5(38%/,& $ 5HLFKVPDUN 9) Â&#x2026; $ 5HLFKVPDUN $9) 9) Â&#x2026; ) 5HLFKV 3IHQQLQJ *9) Â&#x2026; *5((&( $ 'UDFKPD ) $) Â&#x2026; ,21,$1 ,6/$1'6 *5((&( /HSWRQ *) Â&#x2026; ,1',$ %5,7,6+ 5XSHH $9) Â&#x2026; ó 5XSHH *9) Â&#x2026; &DVK *) $9) Â&#x2026; ,5,6+ 6KLOOLQJV 6LOYHU 81& Â&#x2026; òG JUDI¿ WL 2 Z 1) )5 Â&#x2026; òG ) Â&#x2026; òG $) ) Â&#x2026; ,ULVK SHQQLHV ) RU EHWWHU HDFK Â&#x2026; +DOI 3HQQLHV ) RU EHWWHU HDFK Â&#x2026; Â&#x2026; ,7$/< 5 /LUH $9) Â&#x2026; 5 /LUH (.6 $() Â&#x2026; &HQWV 9) Â&#x2026; -(56(< 2) *) Â&#x2026; 2) $81& Â&#x2026; 2) $81& Â&#x2026; 2) *9) Â&#x2026; /$79,$ /DWL 9) Â&#x2026; /DWL 9) Â&#x2026; /DWL () Â&#x2026; 0$85,7,86 &HQWV *) Â&#x2026; 1(7+(5/$1'6 &HQWV UDUH ) *) Â&#x2026; &HQWV $) ) Â&#x2026; &HQWV 9*9) Â&#x2026; &HQW *() Â&#x2026; 1HWKHUODQG *HUGHUODQG 'XLW ) Â&#x2026; 1HWKHUODQG 2YHU\VVHO 'XLW $) )5 Â&#x2026; 1(:)281'/$1' &HQW *) 9) Â&#x2026; 1(: %5816:,&. &HQW ) Â&#x2026; 129$ 6&27,$ &HQW ) Â&#x2026; &HQW ) Â&#x2026; 3$1$0$ &HQWV $() Â&#x2026; 63$,1 0 3 0 3HVHWDV *) $9) Â&#x2026;
$8675$/,$ 6KLOOLQJV *9) $() Â&#x2026; G 81& Â&#x2026;
6:,7=(5/$1' )UDQFV % $() () Â&#x2026; WK $QQL %LUWK RI +HQU\ 'XQDQW 81& Â&#x2026;
$8675,$ P 7KHUHVD 7KDODU 5HVWULNH 3URRI FDVHG )'& Â&#x2026;
81,7(' 67$7(6 'ROODUV *) 9) Â&#x2026; *9) Â&#x2026; 9) Â&#x2026; ' 81& Â&#x2026; 81& Â&#x2026; ' 81& Â&#x2026; 81& Â&#x2026; 3 $81& Â&#x2026; +DOI 'ROODUV 81& FDVHG Â&#x2026; ' $81& Â&#x2026; 81& Â&#x2026; $81& Â&#x2026; ' 81& WRQHG Â&#x2026; 81& Â&#x2026; ' 81& Â&#x2026; 81& Â&#x2026;
%(/*,80 )UDQFV %HOJLH 9) *9) Â&#x2026; &HQWV 'HV %HOJHV *) Â&#x2026; &HQWV 'HU a%HOJHQ *9) Â&#x2026; &$1$'$ + &HQWV OLJKW KDLUOLQHV RWKHUZLVH *() $81& Â&#x2026; &HQW 81& 0LQW OXV Â&#x2026; '$1,6+ :(67 ,1',(6 6NLOOLQJ 2EY HQJUDYHG -DQWH $PDOLH RWKHUZLVH ) Â&#x2026; '(10$5. 2UH ) Â&#x2026;
www.tokenpublishing.com
81& Â&#x2026; ' 81& Â&#x2026; ' 81& Â&#x2026; 4XDUWHU 'ROODUV 2 $) Â&#x2026; 3 () Â&#x2026; 2WKHU ó 'ROODUV ) 9) EHWWHU HD Â&#x2026; ' ' ' 3 ' ' 3 ' 3 ' &HQWV :LWKRXW UD\V ) *) Â&#x2026; :LWK &HQW $() Â&#x2026; &HQW $) Â&#x2026; *) Â&#x2026; *) Â&#x2026; $) ) Â&#x2026; ) Â&#x2026; ) Â&#x2026; ) Â&#x2026; $) Â&#x2026; ) Â&#x2026; *) Â&#x2026; 9 ' % ) *) Â&#x2026; 81,7(' 67$7(6 :DVKLQJWRQ 3LHFHV 2EY :DVKLQJWRQ ,QGHSHQGHQFH 5HY 8QLWHG 6WDWHV +ROHG PP *) $9) Â&#x2026; 81,7(' 67$7(6 5XWKHUIRUG % +D\HV WK 3UHVLGHQW 86$ 5HY +H 6HUYHV +LV 3DUW\ %HVW :KR 6HUYHV +LV &RXQWU\ %HVW $GYDQFHG IURP 0DMRU WR %ULJDGLHU *HQHUDO LQ FLYLO :DU &RQJUHVVPDQ *RYHUQRU RI 2KLR 'HIHDWHG 7LOGHQ IRU WKH 3UHVLGHQF\ E\ RQH HOHFWRUDO YRWH PP ,Q EUDVV :LWK 0LQW OXVWUH () Â&#x2026; 8QGDWHG 81,7(' 67$7(6 /RXLVLDQD 2QH /X[XU\ 7D[ 7RNHQ PP 6DPH ERWK VLGHV ,Q : P 9) Â&#x2026; 6HW 'ROODU WR &HQW FRLQV 0 0 ' ,Q SODVWLF VKHHW 81& Â&#x2026; 6HW 'ROODU WR [ &HQWV FRLQV VW FRLQV 1R 0 0 RI WKH &HQW PLQW PDUN 6 ,Q SODVWLF VKHHW 81& Â&#x2026; /81$5 3/$48( 7KLV LV D UHSOLFD RI WKH SODTXH SODFHG RQ WKH 0RRQ [ PP ,Q EURQ]H 81& Â&#x2026; $ VHOHFWLRQ RI 0RRQ 0HGDOV ,Q FDSVXOHV ,Q EURQ]H PP 81& 0HQ RQ 7KH 0RRQ $32 ;, Â&#x2026; 1RY $32//2 ;,, Â&#x2026; $SULO $32//2 ;,,, Â&#x2026; 7KLUG 0RRQZDON $32//2 Â&#x2026; $SULO $32//2 Â&#x2026; /XQDU 5RYLQJ 9HKLFOH $32//2 Â&#x2026; %$5%$'26 3URRI 6HW 'ROODUV WR &HQW FRLQV FDVHG )'& Â&#x2026; 3URRI 6HW 'ROODUV WR &HQW FRLQV FDVHG )'& Â&#x2026; %(508'$ &URZQ LQ VLOYHU 81& Â&#x2026; 'ROODU 6LOYHU :HGGLQJ FDVHG %8 Â&#x2026; )$/./$1' ,6/$1'6 3HQFH WK $QQL 2I 5HLJQ %8 Â&#x2026; *,%5$/7$5 &URZQ 6LOYHU 3URRI FDVHG )'& Â&#x2026; &URZQ FDVHG 81& Â&#x2026; &URZQ FDVHG 81& Â&#x2026; &URZQ FDVHG 81& Â&#x2026; Â&#x2026; &RLQ ' 'D\ 9LUHQLXP 81& Â&#x2026; Â&#x2026; &RLQ 9LUHQLXP 5HY 0LOOHQQLXP FORFN IDFH %8 Â&#x2026; ,6/( 2) 0$1 6HW S WR òS FRLQV LQ ZDOOHW 81& Â&#x2026; 6HW S WR òS FRLQV FDVHG 81& Â&#x2026; 6HW S WR ò S FRLQV 0LOOHQQLXP RI 7\QZDOG LQ ZDOOHW 81& Â&#x2026; Â&#x2026; &RLQ 3DLU )LUVW 'D\ 0LQWLQJ 0LOOHQQLXP FRLQ 9LUHQLXP 3URRI Â&#x2026; &RLQ ,Q ZDOOHW FHUW %8 Â&#x2026; 3HQFH WK :HGGLQJ $QQL &DVHG 81& Â&#x2026; &URZQ 6LOYHU 3URRI :DVKLQJWRQ FDVHG FHUW )'& Â&#x2026; &URZQ 6LOYHU -XELOHH FDVHG 81& Â&#x2026; &URZQ 40 WK %LUWKGD\ 1LFNHO 'LDPRQG )LQLVK FDVHG FHUW %8 Â&#x2026; &URZQ 5HY 'LDQD WK :HGGLQJ 81& Â&#x2026; ,&(/$1' 6LOYHU 3URRI 6HW .URQXU .URQXU WK $QQLYHUVDU\ RI WKH 6HWWOHPHQW RI ,FHODQG FDVHG FHUW )'& Â&#x2026; -$0$,&$ 3URRI 6HW 'ROODUV WR &HQW FRLQV FDVHG FHUW )'& Â&#x2026; -$3$1 0,17 %85($8 0,1,675< 2) ),1$1&( -$3$1 <HQ 6$33252¶ 2O\PSLF <HQ &KHUU\ EORVVRPV <HQ &KU\VDQWKHPXP EORVVRPV <HQ +RR GR 7HPSOH <HQ (DU RI ULFH *HDU :DWHU <HQ <RXQK WUHH ,Q ZDOOHW FRLQV 81& Â&#x2026; -(56(< )LYH 6KLOOLQJV 81& Â&#x2026; 3HQFH 6LOYHU -XELOHH 81& Â&#x2026; *8(516(< 3URRI 6HW S WR òS FRLQV FDVHG )'& Â&#x2026; 3HQFH WK :HGGLQJ $QQL &DVHG 81& Â&#x2026;
Coin News
79
%X\LQJ RU VHOOLQJ"
7\SH 6HWV 'DWH 5XQV 6FDUFH 7\SHV 2WKHU ,WHPV
,7(06 )25 6$/(
9LFWRULD -XELOHH 6HW WR S &DVHG Ã&#x20AC; QH FRLQV Â&#x2026; 9LFWRULD 9HLOHG %XVW 6HW WR )DUWKLQJ &DVHG 1U Ã&#x20AC; QH FRLQV Â&#x2026; 9LFWRULD -XELOHH %XVW 6HW +DOIFURZQV FRLQV )DLU 1 )LQH Â&#x2026; 9LFWRULD 9HLOHG %XVW 6HW +DOIFURZQV FRLQV )DLU 1 Ã&#x20AC; QH Â&#x2026; 9LFWRULD 9HLOHG %XVW 6HW 6KLOOLQJV FRLQV )DLU 1 Ã&#x20AC; QH Â&#x2026; 9LFWRULD 9HLOHG %XVW 3HQQ\ 6HW 1HDU Ã&#x20AC; QH Â&#x2026; 9LFWRULD FOHDU GDWH %XQ SHQQLHV 3RRU WR IDLU Â&#x2026; (GZDUG 9,, FDVHG VHW +DOIFURZQ WR IDUWKLQJ FRLQV )LQH Â&#x2026; (GZDUG 9,, 3HQQ\ VHW ² FRLQV )LQH Â&#x2026; (GZDUG 9,, )DUWKLQJ VHW ² )LQH WR 9) Â&#x2026; *HRUJH 9 6HW &URZQ WR IDUWKLQJ FDVHG FRLQV )LQH SOXV Â&#x2026; *HRUJH 9 +DOIFURZQ WR IDUWKLQJ FDVHG FRLQV )LQH SOXV Â&#x2026; *HRUJH 9 +DOIFURZQ VHW ² FRLQV )LQH Â&#x2026; *HR 9 +DOIFURZQ VHW ² FRLQV )LQH Â&#x2026; *HR 9 +DOIFURZQ VHW ² FRLQV )LQH Â&#x2026; *HR 9 )ORULQ VHW ² FRLQV )LQH Â&#x2026; *HRUJH 9 )ORULQ VHW ² FRLQV 1HDU Ã&#x20AC; QH WR Ã&#x20AC; QH Â&#x2026; *HRUJH 9 )ORULQ VHW ² FRLQV )LQH Â&#x2026; *HRUJH 9 6KLOOLQJ VHW ² FRLQV )LQH Â&#x2026; *HRUJH 9 6KLOOLQJ VHW ² FRLQV )LQH Â&#x2026; *HRUJH 9 6KLOOLQJ VHW ² FRLQV )LQH Â&#x2026; *HRUJH 9 6L[SHQFH VHW ² )LQH Â&#x2026; *HRUJH 9 6L[SHQFH VHW ² FRLQV )LQH Â&#x2026; *HRUJH 9 6L[SHQFH VHW ² FRLQV )LQH Â&#x2026; *HRUJH 9 GLIIHUHQW GDWH VLOYHU 7KUHHSHQFHV )LQH SOXV Â&#x2026; *HRUJH 9 3HQQ\ VHW ² FRLQV )LQH Â&#x2026; *HRUJH 9 +DOISHQQ\ VHW ² FRLQV )LQH DQG EHWWHU Â&#x2026; *HRUJH 9 +DOISHQQLHV GLIIHUHQW GDWHV )LQH Â&#x2026; *HRUJH 9 )DUWKLQJ VHW ² FRLQV )LQH WR 9) Â&#x2026; . 1 3HQQ\ 1HDU Ã&#x20AC; QH Â&#x2026; + +HDWRQ 3HQQLHV 1HDU Ã&#x20AC; QH &RLQV Â&#x2026; *HRUJH 9, VHW +DOIFURZQ WR )DUWKLQJ &DVHG FRLQV ) WR 9) Â&#x2026; *HRUJH 9, +DOIFURZQ VHW ² FRLQV )LQH WR 9) Â&#x2026; *HRUJH 9, )ORULQ VHW ² FRLQV )LQH WR 9) Â&#x2026; *HRUJH 9, 6KLOOLQJ VHW (QJOLVK FRLQV )LQH WR 9) Â&#x2026; *HRUJH 9, 6KLOOLQJ VHW 6FRWWLVK FRLQV )LQH WR 9) Â&#x2026; *HRUJH 9, 6L[SHQFH VHW ² )LQH WR 9) FRLQV Â&#x2026; *HRUJH 9, 6LOYHU 7KUHHSHQFHV ² FRLQV )LQH WR 9) Â&#x2026;
*HRUJH 9, 1, %5 7KUHHSHQFH VHW ² 1R )LQH Â&#x2026; *HRUJH 9, 3HQQ\ VHW ² FRLQV )LQH Â&#x2026; *HRUJH 9, +DOISHQQ\ VHW ² FRLQV )LQH Â&#x2026; *HRUJH 9, )DUWKLQJ VHW ² FRLQV )LQH Â&#x2026; *HRUJH 9, +DOIFURZQ VHW ² FRLQV )LQH Â&#x2026; *HRUJH 9, )ORULQ VHW ² FRLQV )LQH Â&#x2026; *HRUJH 9, 6KLOOLQJ VHW ² (QJOLVK DQG 6FRWWLVK FRLQV )LQH Â&#x2026; *HRUJH 9, 6L[SHQFH VHW ² FRLQV )LQH Â&#x2026; 6L[SHQFH 6FDUFH )LQH Â&#x2026; 3HQQ\ *9) Â&#x2026; 4(,, VHW &URZQ WR )DUWKLQJ FRLQV &DVHG *RRG () Â&#x2026; 4(,, +DOIFURZQ VHW ² FRLQV )LQH WR 9) Â&#x2026; 4(,, )ORULQ VHW ² FRLQV )LQH SOXV Â&#x2026; 4(,, 6KLOOLQJ VHW ² (QJOLVK )LQH SOXV Â&#x2026; 4(,, 6KLOOLQJ VHW ² 6FRWWLVK )LQH SOXV Â&#x2026; 6FRWWLVK 6KLOOLQJ 6FDUFH )LQH Â&#x2026; 4(,, 6L[SHQFH VHW ² FRLQV )LQH SOXV Â&#x2026; 4(,, 1, %5 7KUHHSHQFH VHW ² FRLQV )LQH Â&#x2026; 4(,, 3HQQ\ VHW ² FRLQV )LQH SOXV Â&#x2026; 4(,, +DOISHQQ\ VHW ² FRLQV )LQH SOXV Â&#x2026; 4(,, )DUWKLQJ VHW FRLQV 9) Â&#x2026; * % &52:16 *RRG 9) Â&#x2026; *RRG 9) Â&#x2026; %R[HG JRRG () Â&#x2026; () (DFK Â&#x2026; () (DFK Â&#x2026;
PLQW VWDWH GLIIHUHQW :RUOG %DQNQRWHV Â&#x2026; PLQW VWDWH GLIIHUHQW :RUOG %DQNQRWHV Â&#x2026; GLIIHUHQW JRRG TXDOLW\ :RUOG VLOYHU FRLQV Â&#x2026; GLIIHUHQW JRRG TXDOLW\ :RUOG VLOYHU FRLQV Â&#x2026;
'XH WR WKH YHU\ KLJK SULFH RI VLOYHU , KDYH KDG WR LQFUHDVH WKH SULFHV RQ PDQ\ RI WKH GDWH UXQV :H FDQ DOVR VXSSO\ IRU VSHFLDO RFFDVLRQV L H ELUWKGD\V DQQLYHUVDULHV HWF FDVHG \HDU VHWV :H FDQ DOVR VXSSO\ \RX ZLWK LQGLYLGXDO GDWHV DQG RWKHU GDWH UXQV HWF SOHDVH SKRQH IRU SULFHV DQG HQTXLULHV
2UGHUV XS WR Â&#x2026; ³DGG Â&#x2026; 5HFRUGHG GHOLYHU\ 2UGHUV Â&#x2026; ²Â&#x2026; DGG Â&#x2026; 6SHFLDO GHOLYHU\ 2UGHUV RYHU Â&#x2026; ³SRVW IUHH
&2//(&7,216 85*(17/< 5(48,5('
:+(1 <28 :$17 72 6(// <285 &2//(&7,21 25 $&&808/$7,21 2) &2,16 25 %$1.127(6 '2 <28 (;3(&7 7KH YHU\ KLJKHVW SRVVLEOH SULFH ZLWK LPPHGLDWH VHWWOHPHQW +HOSIXO IULHQGO\ DQG HIÃ&#x20AC; FLHQW VHUYLFH 2YHU \HDUV· H[SHULHQFH DQG NQRZOHGJH $ YLVLW WR \RXU KRPH DQ\ZKHUH LQ WKH %ULWLVK ,VOHV³DW \RXU FRQYHQLHQFH $ SURIHVVLRQDO DSSURDFK ZLWK QR KHDY\ SUHVVXUH VHOOLQJ $ FRPSOHWH SXUFKDVH RI \RXU FROOHFWLRQ³QRW MXVW SLFN WKH EHVW DQG OHDYH WKH UHVW 7KLV LV WKH PLQLPXP VHUYLFH \RX ZLOO UHFHLYH IURP :HVW (VVH[ &RLQ ,QYHVWPHQWV DQG EHFDXVH ZH DUH D ORQJ HVWDEOLVKHG HIÃ&#x20AC; FLHQWO\ UXQ EXVLQHVV ZH FDQ SD\ \RX PRUH IRU \RXU LQGLYLGXDO FRLQV FROOHFWLRQV RU EDQNQRWHV , DP TXLWH KDSS\ WR ORRN DW DOO FRLQV DQG FROOHFWLRQV³ZKDWHYHU WKH VWDQGDUG
52<6721 $ 125%85< 80
:(67 (66(; &2,1 ,19(670(176 &URIW &RWWDJH 6WDWLRQ 5RDG www.tokenpublishing.com June 2011 $OGHUKROW )RUGLQJEULGJH +DPSVKLUH 63 $= 7HO )D[
Coin News
R I C H A R D W. J E F F E R Y The name in coins and banknotes for over 40 years
~OFFERS FOR SALE~
35,9$7( &2//(&725 5HTXLUHV DQG 3URRI VHWV 81$ DQG 7+( /,21 Â&#x2026;
&217$&7 5RJHU 'XGOH\ 7HO DQ\WLPH
2U
GD\
% 6 $ $8&7,216 every
NEXT AUCTION: 22nd June, 2011 at
weeks
Units 17-18, Station Yard South, Worcester Road, Leominster, HR6 8TN Viewing from midday, sale starts 3pm. Advance viewing by appointment. Postal and internet bidders welcome. Free catalogues. Coin vendors no commission just £2 selling fee per sold lot. (limited time offer) Buyers premium 10% For catalogue and bidding information go to:
www.birmauctions.co.uk email barry@birmauctions.co.uk tel.
01568 610620 mob. 07941 287692
June 2011
www.tokenpublishing.com
SOVEREIGNS 1817 GEORGE 111 AUNC £1,375.00 1817 GEORGE 111 GVF £975.00 1820 GEORGE 111 RGVF £895.00 1820 GEORGE 111 AVF/VF £585.00 1820 GEORGE 111 AEF £945.00 1821 GEORGE IV AEF £795.00 1821 GEORGE 1V RGVF £825.00 1821 GEORGE 1V GEF £1,295.00 1822 GEORGE IV RGVF £825.00 1822 GEORGE 1V AUNC £1,375.00 1824 GEORGE 1V GVF £625.00 1825 GEORGE 1V UNC £1,575.00 1825 GEORGE 1V AUNC £1,375.00 1826 GEORGE 1V NVF £485.00 1826 GEORGE 1V EF/GEF£1,025.00 1826 GEORGE 1V VF £575.00 1826 GEORGE 1V AUNC £1,375.00 1827 GEORGE 1V GVF £795.00 1827 GEORGE 1V AVF £495.00 1827 GEORGE 1V AUNC £1,375.00 1827 GEORGE 1V GEF £1,175.00 1829 GEORGE 1V GVF £795.00 1829 GEORGE 1V VF £695.00 1829 GEORGE 1V AUNC £1,375.00 1830 GEORGE 1V GVF/VF £694.00 1830 GEORGE 1V RGVF £875.00 1832 WILLIAM 1V GVF/AEF £895.00 1832 WILLIAM 1V RGVF/EF £945.00 1832 SUPERB AUNC £1,675.00 1835 STUNNING AUNC £2,250.00 1836 WILLIAM 1V GVF/AEF £975.00 1842 SHIELD GVF £395.00 1843 SHIELD GVF £395.00 1844 SHIELD GVF £395.00 1845 SHIELD GVF £395.00 1845 SHIELD VF £345.00 1846 SUPERB AUNC £975.00 1846 SHIELD GVF £375.00 1847 SHIELD VF £345.00 1847 SHIELD GVF £385.00 1848 SUPERB A&UNC £925.00 1848 SHIELD GVF £385.00 1848 SHIELD RGVF £425.00 1849 SHIELD GVF £425.00 1850 SHIELD GVF £425.00 1851 SHIELD AUNC £495.00 1852 SHIELD AUNC £475.00 1853 SHIELD AUNC £445.00 1853 5 OVER 3 V-RARE AEF £875.00 1855 SHIELD GEF £445.00 1856 SUPERB AUNC £675.00 1857 SHIELD AUNC £425.00 1857 STUNNING UNC £875.00 1861 SHIELD AUNC £425.00 1862 SHIELD GEF/UNC £425.00 1862 SUPERB UNC £575.00 1863 SHIELD AUNC £475.00 1864 SHIELD AUNC £495.00 1864 SHIELD GEF £425.00 1865 SHIELD EF/UNC £425.00 1865 SHIELD AUNC £495.00 1866 SHIELD AUNC £475.00 1868 SH SUPERB AUNC £575.00 1869 SHIELD AUNC £425.00 1869 SUPERB UNC £575.00 1871 SYD SHIELD EF/GEF £345.00 1871 SYD SHIELD AUNC £545.00 1871 LON SHIELD UNC £475.00 1871 LON ST G UNC £425.00 1872 SYD SHIELD AUNC £575.00 1872 LON SHIELD UNC £425.00 1872 SYD ST G UNC £695.00 1872 SYD SHIELD AUNC £575.00 1872 LON ST G UNC £450.00 1873 M ST G UNC £675.00 1873 SYD ST G UNC £975.00 1873 LON ST G AUNC £345.00 1873 SYD SHIELD AUNC £675.00
1874 1875 1875 1875 1876 1877 1877 1877 1878 1878 1878 1878 1878 1879 1879 1879 1880 1880 1880 1881 1881 1881 1881 1882 1882 1883 1883 1883 1884 1884 1884 1884 1885 1885 1885 1885 1885 1885 1886 1886 1886 1887 1887 1887 1887 1888 1888 1888 1889 1889 1889 1890 1890 1890 1891 1891 1891 1891 1892 1892 1893 1893 1893 1893 1894 1894 1894 1895 1895 1895 1896 1896 1896 1897 1897 1898 1898 1898 1899
MEL STG AUNC £495.00 SYDNEY SH AUNC £595.00 MEL ST G UNC £575.00 MEL ST G AUNC £475.0 MEL ST G UNC £575.00 SYDNEY SH AUNC £565.00 YH MEL ST G UNC £545.00 £595.00 SYDNEY SH UNC LON ST G UNC £425.00 MEL ST G AUNC £425.0 SYD SH AUNC £495.00 MEL ST G UNC £525.00 SYD SH UNC £575.00 MEL ST G AUNC £425.00 SYDNEY SH EF/GEF £445.00 SYD SH UNC £575.00 MEL ST G UNC £495.00 SYD ST G UNC £525.00 SYD SHIELD AUNC £725.00 SY SHIELD AUNC £695.00 SY SH CHOICE AUNC £765.00 MEL ST G UNC £545.00 SYD SHIELD GEF/UNC £645.00 YH MEL ST G UNC £495.00 SYD SHIELD AUNC £695.00 M ST G 3857 C UNC £545.00 SY SH CHOICE AUNC £675.00 MEL ST G NEF/EF £265.00 SYD ST G UNC £475.0 MEL SHIELD AUNC £575.00 SYDNEY SH UNC £575.00 M ST G 3857 B UNC £425.00 MEL ST G UNC £435.00 LON AUNC £295.00 SYD ST G UNC £425.00 SYDNEY SH UNC £595.00 LON AUNC £295.00 M ST G AUNC £375.00 MEL ST G AUNC £375.00 SYD SHIELD AUNC £575.00 SYD ST G UNC £475.00 JH MEL UNC £345.00 LON JH UNC £325.00 SYD YH UNC £545.00 MEL ST G UNC £525.00 MELBOURNE AUNC £265.00 MEL UNC £275.00 SYDNEY UNC £295.00 SYDNEY UNC £295.00 LONDON UNC £295.00 MELBOURNE UNC £325.00 LONDON UNC £325.00 MELBOURNE UNC £295.00 SYD JH UNC £295.00 LON JH UNC £325.00 MELBOURNE UNC £295.00 LON JH AUNC £285.00 SYD JH UNC £345.00 MELBOURNE UNC £295.00 LON JH UNC £325.00 SYD JH UNC £365.00 SYDNEY OH UNC £345.00 LON OH UNC £325.00 MEL OLD HD UNC £325.00 SYDNEY UNC £285.00 MELBOURNE UNC £285.00 LONDON UNC £285.00 LON OH UNC £285.00 MELBOURNE UNC £285.00 SYDNEY UNC £285.00 LONDON UNC £285.00 MELBOURNE UNC £285.00 SYDNEY UNC £335.00 MELBOURNE UNC £295.00 SYDNEY UNC £335.00 LONDON UNC £285.00 MELBOURNE UNC £285.00 SYDNEY UNC £335.00 MELBOURNE UNC £285.00
â&#x20AC;¢ Above prices subject to gold prices change â&#x20AC;¢ TREBEHOR, PORTHCURNO, PENZANCE, CORNWALL TR19 6LX â&#x20AC;¢ Tel: 01736 871263 â&#x20AC;¢
Coins sent on 7-day approval against payment. P&P £1 buyers risk. Reg Post £5.00 ~ Up-to-date computer quotes available for coins and banknotes ~ Please note that all stock is in the bank which may cause a slight delay in sending.
Coin News
81
0$/&2/0 (//,6 &2,16 FOR SALE GOLD COINS AT THE SPOT GOLD PRICE. This list was compiled on 7th April 2011 Gold was trading at $1459 per 1oz and the pound conversion rate was $1.6319 = ÂŁ894.00 per 1oz. The gold price will fluctuate and these prices will be adjusted accordingly but we will keep to these spot & % over prices GOLD COINS FOR SALE at THE SPOT GOLD PRICE 5 oz pure gold The Tudor Age Commemorative 6 gold Ingots total weight 6.15 ozs pure gold 9ct gold chains with extra weight offered for sale at the spot gold price of ÂŁ894 per oz (for example 2.69oz of 9ct gold =1oz of pure gold) =ÂŁ894
ÂŁ4470 ÂŁ5498
Miscellaneous 22ct gold coins and commemorative striking of my choice with extra weight offered for sale at the spot gold price (for example 1.091oz of 22ct gold =1oz of pure gold)= £894 KRUGERRANDS FOR SALE AT ONLY 2 ½% OVER THE SPOT GOLD PRICE £916 GOLD COINS FOR SALE AT ONLY 4% OVER THE SPOT GOLD PRICE King Half Sovereigns Half ounce Krugerrands Quarter ounce Krugerrands One tenth ounce Krugerrands SOVEREIGNS
ÂŁ109 ÂŁ464 ÂŁ232 ÂŁ 92 ÂŁ218
GOLD PROOF COINS FOR SALE AT ONLY 8% OVER THE SPOT GOLD PRICE Proofs perfect FDC condition all cased with certificates ½ Sovereigns £113 Sovereigns £226 Proof £2 pieces 1982, 1988, 1986, 1987, 1988, 2006 £454 each £5 Pieces £1135 1oz Britannias £965 ½ oz £481 Ÿ oz £241 1/10 oz £96 Long Sets £5, £2 £1 and ½ Sovereign £1925 Short Sets £2, £1 and ½ sovereign 1982,84,85,86, 90,91,92,93,94,95,96,97,2000,01,07 £795 each Britannia 4 coins sets £100, £50, £25 and £10 £1786
MISCELLANEOUS SCARCER COINS AND SETS GOLD Proof 50p NHS Public Libraries Suffragette Movement Four Minute mile 1992-1993 EU D Day
1998 2000 2003 2004 1993 1994
ÂŁ495 ÂŁ495 ÂŁ495 ÂŁ495 ÂŁ756 ÂŁ756
Proof Sovereigns 1979 ÂŁ230, 1980 ÂŁ235, 1981 ÂŁ235, 1982 ÂŁ235, 1983 ÂŁ235 1991 ÂŁ350, 1992 ÂŁ350, 1984 ÂŁ350, 1990 ÂŁ350, 1996 ÂŁ350, 1994 ÂŁ350 1993 ÂŁ400, 1997 ÂŁ350, 1998 ÂŁ340, 1999 ÂŁ350, 2002 ÂŁ330, 2005 ÂŁ235, 2007 ÂŁ235, 2009 ÂŁ235 1887 Five pound piece VF 1902 Five pound piece GVF
ÂŁ1150 ÂŁ1200
500th. Anniversary Set 1489 â&#x20AC;&#x201C; 1989 all proof Half Sovereign ÂŁ345 Sovereign ÂŁ800 Sovereign ÂŁ750 Two Pound ÂŁ695 Set Sovereign and half ÂŁ1,000 Set ÂŁ2, ÂŁ1, 1/2 ÂŁ1,600 Set ÂŁ5, ÂŁ2, ÂŁ1, 1/2 ÂŁ2,850 ÂŁ5 unc. ÂŁ1,250
::: 0$/&2/0(//,6&2,16 &2 8. 7HOHSKRQH
Letters to the Editor Write in and tell us your views on numismatically-related topics
Help needed
Dear Editor I wonder if any reader can help identify a 40mm bronze medallion which was sold to me as being from Grimsby. The medal commemorates “Junction Street Sunday School Jubilee 1905” and has a picture of the said school (?church) on one side with a portrait and inscription “R Hilliard, JP, Founder 1855” on the other. Does anyone know just where Junction Road Sunday School was? From research I have undertaken so far I have been unable to trace any connection with Grimsby. John Turner
Bad old days?
Dear Editor I was stunned and baffled to read Dr Kerry Rodgers article (Back to Basics, COIN NEWS, April 2010) in which he states “In the bad old days a bank would receive a series of partly printed note forms from their printer . . .”. Literally, what reason and reasoning exists for such a sweeping piece of unsubstantiated disparagement towards our Nation’s currency—a currency which we collect? Is Dr Rodgers referring to the period 1750 through 1921, 1793 to 1833 or perhaps 1797 to 1866? We read practically nothing negatively judgemental about the “bad old days” of coin issue (clipping, shortages, etc.), yet when we encounter the note issue
Whilst we endeavour to reply as quickly as possible this can take some time. Please send your letters to: Token Publishing Ltd., Orchard House, Duchy Road, Heathpark, Honiton, Devon, EX14 1YD, or to info@tokenpublishing.com If a reply is required, please enclose an SAE. Here we publish a selection from the postbag.
part of the Nation’s currency, suddenly we have “the bad old days”. And what bad old days? Perhaps he refers to the Bank of England suspending payment in 1825, 1836, 1847, 1857 and 1866, or a system (the gold standard) that enabled things to cope with the fluctuations and difficulties that occur periodically (during all the changes that took place in this era). Perhaps he refers to the Provincial note issue of the time? 85 per cent were unaffected by the Napoleonic Wars (the continental blockade was a problem as one might imagine). And, as with the group that disappeared in 1825–26, most paid on their liabilities. Yes, most! Perhaps as many as 80 per cent in full, the rest over half! (bad old days, eh?). Amalgamations and take-overs make up the majority of the note issues that disappeared during the 1830s and the second half of the 19th century, some in favour of using Bank of England Branch or London notes. Throughout the entire period of 1750 towards the 20th century, the Provincial note issue was a central and integral part of the Nation’s currency. The Thrapston and Kettering note issue, for example, was practically unchanged in design from at least 1812 right through to 1887 (not a feature of 20th century currency).
In 1750 there was hardly a single note issue in existence and in use outside of London. By 1921 there were just two note issues in England and by 1928, just one. Go easy Editor, but please no more of this disparagement of a fascinating, moving and extraordinary field for collecting, both local and national. R. Dennett
Readers’ query
Dear Editor I have a halfpenny dated 1958 which appears to be somewhat smaller than normal: it is 24.3mm diameter compared with 25.4mm normal and 1.10mm thick opposed to 1.50mm. The lettering also appears to be thinner than it should be. Is it a rarity? William Gaunt Dr Clancy of the Royal Mint Museum is of the opinion that this coin could have been immersed in acid which has dissolved much of the metal but would need to examine it to be sure.—ED. If you have a coin that is baffling you send us an image and we will do our best to identify it.
Gold Sovereigns
for sale
£228 Tel Paul: 07779 461929 www.buybullioncoins.com
Tel: 01430 879740 / 07905 467650 e-mail: sales@weightoncoin.co.uk We specialise in British & Colonial Gold & Silver coins & sets of the modern age. Sovereigns of different Monarchs, dates & Mint Marks also available. Always in stock are: • Gold Proof Coins & Sets • Silver Proof Coins & Sets • Gold & Silver Bullion Coins • Royal Mint Collectors Pieces • Gold Sovereigns Visit our e-shop and order on line at
www.weightoncoin.co.uk 18 High Street, Market Weighton, York, YO43 3AH We also buy single coins or whole collections.
June 2011
www.tokenpublishing.com
Coin news
83
$06# /'/$'45*+25 +0 %1706; 14&'4
6JQUG OGODGTU YKVJ C TGVCKN RTGOKUGU CTG KPFKECVGF YKVJ CP
.10&10 #4'#
&GCNGTU YJQ FKURNC[ VJKU U[ODQN CTG OGODGTU QH VJG
$4+6+5* 07/+5/#6+% 64#&' #551%+#6+10 6JG RTKOCT[ RWTRQUG QH VJG #UUQEKCVKQP
# * $CNFYKP 5QPU .VF #65 $WNNKQP .VF $GCXGT %QKP 4QQO -GKVJ %JCROCP
%NCUUKECN 0WOKUOCVKE )TQWR +PE 5GCD[ %QKPU
2JKNKR %QJGP 0WOKUOCVKEU #PFTG FG %NGTOQPV /KEJCGN &KEMKPUQP
&KZ 0QQPCP 9GDD %JTKUVQRJGT 'KOGT )NGPFKPKPIxU *CTTQY %QKP 5VCOR %GPVTG
-PKIJVUDTKFIG %QKPU % , /CTVKP %QKPU .VF 0KIGN /KNNU /QTVQP 'FGP .VF /QTW\\K .VF
%QNKP 0CTDGVJ 5QP .VF 0WOKUOCVKEC #TU %NCUUKEC
2CXNQU 5 2CXNQW 2J[UKECN )QNF .VF 2TGFGEKOCN EQO KPEQTRQTCVKPI 4QVQITCRJKE 2WDNKECVKQPU 4QOC 0WOKUOCVKEU .VF 5KOOQPU )CNNGT[
5RKPM 5QP .VF 5WTGPC #PEKGPV #TV 0WOKUOCVKE 6JG .QPFQP %QKP %QORCP[ .VF
$'&(14&5*+4'
5CNVHQTF %QKPU $7%-+0)*#/5*+4' %JCTNGU 4KNG[
%#/$4+&)'5*+4'
&GP QH #PVKSWKV[ +PVGTPCVKQPCN .VF %*'5*+4'
UGPF C UVCORGF CFFTGUUGF GPXGNQRG VQ )GPGTCN 5GETGVCT[ $06# 21 $QZ 4[G 'CUV 5WUUGZ 60 9' 6GN (CZ ' OCKN DPVC"NKPGQPG PGV
84
.#0%#5*+4'
%QNKP FG 4QWHHKIPCE ,COGU /WTRJ[
2GVGT +TGNCPF .VF
/10/176*5*+4'
#PVJQP[ / *CNUG
014(1.-
4QFGTKEM 4KEJCTFUQP %JTKU 4WFF $WEMU%QKPU
0146*#/26105*+4'
)KWUGRRG /KEGNK %QKP /GFCN %GPVTG
0146*7/$'4.#0&
%QTDKVV 5VCORU .VF
0166+0)*#/5*+4' *KUVQT[ KP %QKPU 57((1.-
.QEMFCNG %QKPU .VF /KMG 4 8QURGT %QKPU
5744';
#NNIQNF %QKPU &CPKGN (GCTQP / , *WIJGU -/%% .VF /CTM 4CUOWUUGP 0WOKUOCVKUV 0KIGN 6QQNG[ .VF 6KO 9KNMGU
$KTOKPIJCO %QKPU &CXKF %TCFFQEM 2CWN &CXKU $KTOKPIJCO .VF
(QTOCV QH $KTOKPIJCO .VF /KPV %QKPU .VF
9#49+%-5*+4'
2GVGT 8KQNC
9CTYKEM 9CTYKEM .VF
# ( $41%- %Q .VF
914%'56'45*+4'
4KEJCTF 9 ,GHHGT[
;14-5*+4'
%1409#..
(QT C HTGG /GODGTUJKR &KTGEVQT[ RNGCUG
.QPFQP %QKPU
2GVGT /QTTKU
9'56 /+&.#0&5
$4+561.
KP $TKVCKP
-'06
(TCPM /KNYCTF
UVCPFCTFU QH RTQHGUUKQPCNKUO KP FGCNKPIU
TGRTGUGPVCVKXG QH EQOOGTEKCN PWOKUOCVKEU
&4) %QKPU CPF #PVKSWKVKGU - $ %QKPU &CXKF /KNNGT
5755':
$'4-5*+4'
QHHKEKCN EQPUWNVCVKQPU KV KU VJG TGEQIPKUGF
*'46(14&5*+4'
%CODTKFIG %QKPU CPF ,GYGNNGT[ 5KOQP /QPMU
KU VQ RTQOQVG CPF UCHGIWCTF VJG JKIJGUV DGVYGGP KVU /GODGTU CPF VJG RWDNKE +P
9GUV 'UUGZ %QKP +PXGUVOGPVU
&'810
)NGPP 5 1IFGP
&145'6
&QTUGV %QKP %Q .VF
, 9JKVOQTG #KTGFCNG %QKPU 2CWN %NC[VQP 2CWN &CXKGU .VF 9GKIJVQP %QKP 9QPFGTU
9#.'5 '55': .NQ[F $GPPGVV 6KOG .KPG 1TKIKPCNU '55': *'465 .10&10 $14&'45 %CTFKHH %QKPU /GFCNU &CXKF 5GCOCP
*#/25*+4'
52/ ,GYGNNGTU 5VWFKQ %QKPU
8KEVQT[ %QKPU
0QTVJ 9CNGU %QKPU .VF %QNKP 4WOPG[
+4'.#0&
1TOQPFG %QKPU
YY Y D P VC P G V Coin news
www.tokenpublishing.com
June 2011
DEALERS LISTS AIREDALE COINS, PO Box 7, Bingley, West Yorkshire BD16 1XU. Modern coins. ANCIENT & GOTHIC, PO B ox 5390, Bournemouth, BH7 6XR. List No. 264â&#x20AC;&#x201D;coins and antiquities. A. H. BALDWIN & SONS LTD., 11, Adelphi Terrace, London WC2N 6BJ. Fixed pice coin list. ARGHANS, Unit 9, Callington Business Park, Tinners Way, Moss Side, Callington, Cornwall PL17 7SH. April list of world banknotes. STEPHEN J. BETTS, 4, Victoria Street, Narborough, Leicester LE19 2DP. List T&M 26 world coins. BARRY BOSWELL, 24 Townsend Lane, Upper Boddington, Daventry, Northants NN11 6DR. World Banknotes. JAMES & C. BRETT, 17 Dale Road, Lewes, Sussex BN7 1 LH UK. Yellow list 11â&#x20AC;&#x201D;26pp of world coins. STEVE BURKINSHAW, 19 Oak Lodge Road, High Green, SheďŹ&#x192;eld S35 4QA. Hammered and milled . CAMBRIDGESHIRE COINS, 355 Newmarket Road, Cambridge CB5 8JG. Coins and accessories. NIGEL CLARK, 28 Ulundi Road, Blackheath, London SE3 7UG. List of 17th c. tokens. COINCRAFT, 45 Great Russell Street, London WC1B 3LU. â&#x20AC;&#x153;The Phoenixâ&#x20AC;?. Large newspaperstyle list of coins, banknotes and books, etc. COINS HISTORIC, PO Box 5043, Lower Quinton, Stratford upon Avon CV37 8WH. Email: sales@coinshistoric.co.uk. Catalogue No. 1 of ancient coins. COLIN COOKE, PO Box 602, Altrincham, WA14 5UN. List of hammered and milled coinage. M. COESHAW, PO Box 115, Leicester LE3 8JJ. 14pp list of coins and collectables. CNG, 14 Old Bond Street, London W1S 4PP. 11pp list of numismatic books.
DAVID CRADDOCK, PO Box 3785 Camp Hill, Birmingham B11 2NF. British coins for sale. IAN DAVISON, PO Box 256, Durham DH1 2GW. 18pp list availableâ&#x20AC;&#x201D;hammered and milled coins dating from 1066â&#x20AC;&#x201C;1910. DEI GRATIA, PO Box 3568, Buckingham, Bucks MK18 4ZS. Coins and antiquities. CLIVE DENNETT, 66 Benedicts Street, Norwich NR2 4AR. Shop open 9.30am to 4.30pm. Closed Thurs & Sun. List of banknotes. DORSET COIN CO. LTD, 193 Ashley Road, Parkstone, Dorset BH14 9DL. Lists of British coins, world banknotes and gold coins. JEAN ELSEN, Avenue de Tervueren, 65, Brussels, 1040 Belgium. List 256â&#x20AC;&#x201D;ancient, medieval, modern and oriental coins. GK COINS LTD, 17 Hanover Square, London, W1S 1HU. List No. 5. British and world coins. GALATA, The Old White Lion, Market Street, Llanfyllin, Powys SY22 5BX. 130 pp of books. B. GOULBORN, PO Box 122, Rhyl LL18 3XR. Lists of English coins and notes. IAN GRADON, PO Box 359, Durham DH7 6WZ. Internet listâ&#x20AC;&#x201D;world paper money. ANTHONY HALSE, PO Box 1856, Newport, S. Wales NP18 2WA. Spring Listâ&#x20AC;&#x201D;12pp of English, foreign coins and tokens. MUNTHANDEL.G.HENZEN, Postbus 42, NL3958 ZT Amerongen. Tel: +31 (0) 343-430564. Email: info@henzen.org. List 223, world coins. List 224â&#x20AC;&#x201D;Dutch coins. ALVIN HOUSE, 4 Carpentersâ&#x20AC;&#x2122; Terrace, Martock, Somerset, TA12 6HF. British coins. IRISH BANKNOTES, PO Box 99, Kells, Co. Meath, Ireland. 16 Page list containing Irish banknotes. www.irishpapermoney.com. R. INGRAM, 206 Honeysuckle Road, Bassett SO16 3BU. List 89: Hammered, milled, modern. DMITRI KHARITONOV, Gen. Janouska 900, 19800 Praha 9, Czech Republic. Email: kharitonov@volny.cz. Russian banknotes.
./(()25' &2,1 $8&7,216
5HJXODU PRQWKO\ VDOHV RI &RLQV 0HGDOV 1RWHV HWF
1RZ RQOLQH DW
Strap FRITZ RUDOLF KĂźNKER, MĂźnzenhandlung Gutenbergstrasse 23, 49076 OsnabrĂźck. List No. 195â&#x20AC;&#x201D;world coins, ancient to modern. K & M COINS PO Box 3662, Wolverhampton WV10 6ZW, or 07971 950246. British and World coins and tokens. Please email for details: mickbagguley@hotmail.co.uk. KLEEFORD COINS, 42b Shop Lane, Nether Heage, Belper, Derbyshire DE56 2AR. List available, email: kleeford@btinternet.com. LIGHTHOUSE (Duncannon Partnership), 4 Beaufort Road, Reigate, Surrey RH2 9DJ. 24pp colour catalogue of coin accessories. LINDNER, 3a Hayle Industrial Park, Hayle, TR27 5JR. 60pp. catalogue of accessories. MANNIN COLLECTIONS LIMITED, 5 Castle Street, Peel, Isle of Man IM5 1AN. September colour list of Isle of Man banknotes. GIUSEPPE MICELI, 204 Bants Lane, Duston, Northampton NN5 6AH. British/foreign coins. TIMOTHY MILLETT LTD. PO Box 20851, London SE22 0YN. www.historicmedals. com. Historical medals (ÂŁ10, refundable on purchase). PETER MORRIS, PO Box 223, Bromley BR1 4EQ. List No. 12 Banknotes; No. 8 Foreign coins, world coins, books; No. 56 British coins; No. 39 medals. COLIN NARBETH & SON LTD, 20 Cecil Court, Leicester Square, London, WC2N 4HE. 28pp list of world banknotes available. NOTABILITY BANKNOTES, Email: info@ notability-banknotes.com. Specialising in world notes. GLENN S. OGDEN, 53 Chestnut Cresc, Culver Green, Chudleigh TQ13 0PT. List No. 50. 18pp 19th/20th c. English coins. ROGER OUTING, PO Box 123, Clayton West, Huddersfield HD8 9WY. List 18â&#x20AC;&#x201D;cheques, banknotes , banking memorabilia. PETERCOINS, PO Box 46743, London SW17 0YF. Regular lists of low cost British Coins.
MARK RASMUSSEN, PO Box 42, Betchworth RH3 7YR. List 20â&#x20AC;&#x201D;English/world coins. RODERICK RICHARDSON, The Old Granary Antique Centre, Kingâ&#x20AC;&#x2122;s Staithe Lane, Kingâ&#x20AC;&#x2122;s Lynne PE30 1LZ. 18pp. Hammered & milled. F. J. RIST, PO Box 4, Ibstock, LE67 6ZJ. List of ancient & early English coins. CHRIS RUDD, PO Box 222, Aylsham NR11 6TY. March 2011 list 117 16pp of Celtic coins. Lizâ&#x20AC;&#x2122;s List No. 51â&#x20AC;&#x201D;Celtic coinsâ&#x20AC;&#x201D;all under ÂŁ200. SALTFORD COINS, Harcourt, Bath Road, Saltford BS31 3DQ. Six lists per year of coins, tokens & medallions. Postal only. STUDIO COINS, 16 Kilham Lane, Winchester, Hampshire S022 5PT. Numismatic list no 84. THE COLLECTORâ&#x20AC;&#x2122;S BAY, 18 Ross Road, Wallington, Surrey SM6 8QB Tel: 0775 925 3127. Coin accessories. THE LONDON COIN COMPANY LTD, PO Box 57635, London NW7 0DS. British & world coins. www.thelondoncoincompany.com. MICHAEL TRENERRY, PO Box 55, Truro TR1 2YQ. (March/April) Ancient/hammered. JOHN WELSH, PO Box 150, Burton on Trent, Staffs DE13 7LB. 16pp list of British coins. D. S. WELTON, 13 Monmouth Road, Harlington, Dunstable, Beds LU5 6NE. List 21â&#x20AC;&#x201D;8pp of British Coins. PAM WEST, PO Box 257, Sutton, Surrey SM3 9WW. 20pp list Irish notes. JOHN WHITMORE, PO Box Teynham Lodge, Chase Road, Upper Colwall, Malvern, Worcs WR13 6DJ. May listâ&#x20AC;&#x201D;coins, tokens, and medallions. TIM WILKES, PO Box 150, Battle TN33 0FA. List No. 12â&#x20AC;&#x201D;medieval/Islamic coins. WORLD TREASURE BOOKS, PO Box 5, Newport, IOW PO30 2JG. List 24. D. YAPP, PO Box 4718, Shrewsbury Mail Centre SY1 9EA. 11pp list of banknotes of the world.
COIN FA I R
ZZZ NOHHIRUGFRLQV ZHEV FRP
BLOOMSBURY HOTEL
)RU D IUHH $XFWLRQ &DWDORJXH SOHDVH FDOO RQ RU (PDLO NOHHIRUG#EWLQWHUQHW FRP
16-22 Great Russell Street London WC1 3NN
$OVR DFFHSWLQJ ORWV IRU IXWXUH DXFWLRQV 3OHDVH FDOO IRU GHWDLOV
Paul Davis Birmingham Ltd DEALERS IN OLD GOLD AND SILVER COINAGE
0121 427 7179
P. O. BOX 418 BIRMINGHAM B17 0RZ June 2011
www.tokenpublishing.com
(New Name, Same Location)
Admission ÂŁ2.00 Dealers in English, Foreign, Ancient, Antiquities, Tokens, Medallions and Banknotes
July 2nd 2011 (9.30 am - 2.00 pm)
NEXT FAIR: SEPTEMBER 3RD 2011 Enquiries: Tel: 020 8656 4583
Coin news
85
Diary dates DATE
FAIRS
June 1
EVENT
VENUE
CONTACT
Coins and Collectables
Stowmarket Football Club, Bury Road, Stowmarket
CLICKCOLLECT ( 01485 578118 (David James)
June 4
London Coin Fair
Holiday Inn, Bloomsbury, London WC1
( 01694 731781 (Mike Veissid)
June 5
Wolverhampton Coin Fair
Social Club, Church Road, Bradmoor, Wolverhampton
( 07971 950246
South Coast Coin & Medal Show
( 07890 764452 (Rick Coleman)
June 11
Coins and Collectables
The Pavilion, Southampton University, Wide Lane Sports Grounds, Eastleigh, Hants Large Parish Hall, De La Warr Road, East Grinstead
June 12
Midland Coin Fair
National Motorcycle Museum, Bickenhill, Birmingham
( 01694 731781 (Mike Veissid)
Cheltenham Coin Fair
The Regency Hotel, Gloucester Road, Cheltenham
Coins and Collectables
Stanway Football Club, New Farm Road, Colchester
( 01452 501098 CLICKCOLLECT ( 01485 578118 (David James) : www.rnsnz.org.nz
June 15
June 17â&#x20AC;&#x201C;18 Coins and Collectables
( 01342 326317
Kingsgate Hotel, 24 Hawkestone St, Thorndon, Wellington, New Zealand United Church, 49â&#x20AC;&#x201C;51 Charles Street, Dorchster
June 18
Collectors fair
June 25
Collectors fair
June 26
Wakefield Coin, Medal & Banknote Fair
Victoria Methodist Church Hall, Station Road, Weston Super Mare Cedar Court Hotel, Denby Dale Road, Calder Grove, Wakefield
MICHAEL HALE COLLECTORS FAIRS ( 01761 414304 MICHAEL HALE COLLECTORS FAIRS ( 01761 414304 ( 01522 644681 (Eddie Smith)
FAIR ORGANISERSâ&#x20AC;&#x201D;please send your dates for the diary page to abbey@tokenpublishing.com, giving at least two monthsâ&#x20AC;&#x2122; notice, thank you!
AUCTIONS
DATE
AUCTION
LOCATION
June 1
Collectors sale
Reading
June 2
Sale 74â&#x20AC;&#x201D;Coins of the World and Numismatic Rarities
Queensland, Australia
June 4
Ancient, British and World Coins and Medals
London
June 6â&#x20AC;&#x201C;7
Coins, Tokens and Banknotes
London
June 9
Ancient, Islamic, British and World Coins
London
June 13â&#x20AC;&#x201C;18
World and US Coins and Tokens
Baltimore
June 15
Coins, Banknotes and Medals
Warwick
June 17
Auction 88â&#x20AC;&#x201D;Ancient Coins
London
June 18 June 21 June 20â&#x20AC;&#x201C;24 June 22
Auction 109â&#x20AC;&#x201D;World Coins Ancient British and World Coins and Numismatic Books Auctions 188â&#x20AC;&#x201C;192â&#x20AC;&#x201D;German and World Coins and Medals Coins, Tokens and Banknotes
Brussels London Osnabruck Leominster
June 23
Ancient Coins Ancient, English and Foreign Coins and Medals
London London
CONTACT CAMEO ( 01189 713772 : www.cameo-auctioneers.co.uk INTERNATIONAL AUCTION GALLERIES : www.iagauctions.com BALDWINS (020 7930 9808 :www.baldwin.co.uk LONDON COINS (01474 871464 :www.londoncoins.co.uk MORTON & EDEN (020 7493 5344 :www.mortonandeden.com STACKâ&#x20AC;&#x2122;S, BOWERS & PONTERIO (+ 1 949 253 0916 :www.stacksbowers.com WARWICK & WARWICK (01926 499031 :www.warwickandwarwick.com CNG (020 7495 1888 :www.cngcoins.com JEAN ELSEN (+32 2 734 63 56 :www.elsen.be DNW (020 7016 1700 :www.dnw.co.uk KUENKER (+ 49 541 962020 :www.kuenker.com BSA AUCTIONS ( 01568 6100620 : wwwbirmauctions.co.uk DNW (020 7016 1700 :www.dnw.co.uk SPINK ( 020 7563 4000: www.spink.com
FURTHER INFORMATIONâ&#x20AC;&#x201D;as details can change after we have gone to press, please check times etc. with organisers before setting off on your journey.
2XU $SULO WK DXFWLRQ KDG RYHU SHRSOH LQ WKH URRP ZLWK VWURQJ VXSSRUW IURP WKH SRVWDO ELGGHUV 0RVW KRZHYHU PDQDJHG WR DFTXLUH DW OHDVW VRPH RI WKHLU ´ZDQWV¾ :H ZLVK \RX D JUHDW VXPPHU VHH \RX 6HSWHPEHU WK $ $SSO\ IRU D FDWDORJXH QRZ 3+21( )$; RU YLVLW RXU ZHEVLWH
ZZZ FUR\GRQFRLQDXFWLRQV FR XN
( PDLO JUDHPH#FUR\GRQFRLQDXFWLRQV FR XN 86
Coin News
www.tokenpublishing.com
June 2011
5L^
:V\[O *VHZ[
*VPU 4LKHS :OV^ (YHU\ ¿ UVW 6XQGD\ RI WKH 0RQWK WKURXJK )XWXUH VKRZV -XQH WK -XO\ UG $XJXVW WK Whether you are buying or selling thereâ&#x20AC;&#x2122;ll be something for everyoneâ&#x20AC;&#x201D;from ancient through hammered, milled and modern, from Britain and across the globe; silver, gold, bronzeâ&#x20AC;&#x201D;the lot! As well as British & World banknotes and military medals & militaria.
GHDOHUV LQ *% IRUHLJQ FRLQV $QFLHQW FRLQV DQG DQWLTXLWLHV 0HGDOV WRNHQV DQG QRWHV
DW WKH 3$9,/,21 6RXWKDPSWRQ 8QLYHUVLW\ :LGH /DQH 6SRUWV *URXQGV :LGH /DQH (DVWOHLJK +DPSVKLUH 62 3( 'RRUV RSHQ WR WUDGH DP SXEOLF DP
Any enquiries contact Rick: 07890 764452, r99cc@yahoo.com
WAKEFIELD FAIR COINS, MEDALS, BANKNOTES AND MILITARIA Come and see us at our superb venue, Cedar Court Hotel Denby Dale Road Calder Grove, Wakefield WF4 3QZ At Junction 39 off the M1
3XW WKHVH GDWHV LQ \RXU GLDU\ QRZ
WK -XQH
2SHQ IURP DP WR SP ODVW SDLG DGPLVVLRQV SP
$GPLVVLRQ Â&#x2026; &RQFHVVLRQV Â&#x2026;
-\[\YL +H[LZ! [O 5V]LTILY
6SHQG WKH GD\ RQ \RXU KREE\ %DOGZLQV $UJHQWXP $XFWLRQ SP VWDUW )RU PRUH LQIRUPDWLRQ FRQWDFW 0U 0LNH 9HLVVLG +REVOH\ +RXVH )URGHVOH\ 6KUHZVEXU\ 6< +' (PDLO P YHLVVLG#EWLQWHUQHW FRP 7HO
ZZZ FRLQIDLUV FR XN
&XW RXW WKHVH GDWHV DQG SXW WKHP LQ \RXU GLDU\ TO BE HELD ON THE LAST SUNDAY OF EACH MONTH
June 26th July 31st Approximately 35 dealers Admission: £1 Adults Children under 14 free Free car parking (Park in the main car park at reception) 9.30-14.30
WE ARE NOW IN THE CEDAR SUITE ENQUIRIES: Eddie Smith 01522 684681 June 2011
www.tokenpublishing.com
Coin News
87
Diary dates SOCIETIES
DATE June 2
VENUE
SUBJECT/EVENT
CONTACT
The Eagle & Child, Maltkiln Lane, Bispham Green, Ormskirk
Membersâ&#x20AC;&#x2122; Recent Acquisitions
ORMSKIRK & WEST LANCS NS ( 01704 531266
Wallace Humphrey Room, Shelthorpe Community Centre, Loughborough
Presentation by Wendy Scottâ&#x20AC;&#x201D;Finds Liaison Officer for Leics. and Rutland
LOUGHBOROUGH COIN & SEARCH SOCIETY ( 01509 261352 : www.norwichcoinandmedalsociety.co.uk
June 4
Swarthmore College, Woodhouse Square, Leeds
â&#x20AC;&#x153;Decimal Coinage of the Stirling Weight Standardâ&#x20AC;? by R. Tye
YORKSHIRE NS ( 01977 682263
June 6
Nursery Inn, 258 Green Lane, Heaton Norris, Stockport
â&#x20AC;&#x153;My Other Collectionâ&#x20AC;?â&#x20AC;&#x201D;society talk
South Manchester NS ( 0161 432 2044
St. Martinâ&#x20AC;&#x2122;s Church Hall, Erith Road, Barnehurst, Bexleyheath, Kent
â&#x20AC;&#x153;Rationalisation of Vandalismâ&#x20AC;&#x201D;thework of the Websters on The Royal Mint Collection in the 1870sâ&#x20AC;? by Graham Dyer
BEXLEY COIN CLUB ( 020 8303 0510
The Albert Hotel, Victoria Lane, Huddersfield
Annual General Meeting
Huddersfield NS ( 01484 866814
Abbey Baptist Church, Abbey Square, Reading
Annual General Meeting
Reading Coin Club ( 01753 516390 : www.readingcoinclub.co.uk
Please call for Venue Details
â&#x20AC;?Gwent Metal Detectingâ&#x20AC;? by David Arnold
South Wales & Monmouthshire NS ( 02920 561564
Fairtykes Arts Centre, Billet Lane, Hornchurch
Quiz
HAVERING NS ( 07910 124549
June 7
The Edward Wright Room, Beaufort Community Centre, Summer Auction Beaufort Road, Southbourne, Bournemouth
Wessex NS ( 020 7731 1702
June 8
RAF Assoc., Eric Nelson House, 16 Bewick Road, Gateshead
Society Meeting
Tyneside NS ( 01661 825824 www.tynesidecoinclub.info
June 9
Fry Social Club, Keynsham.
Society Quiz
Bath and Bristol NS ( 07793 905035
Please call for venue details
Monthly Meeting
Bedfordshire NS ( 01234 870645
June 13
Please Call for venue details
Annual General Meeting
Harrow Coin Club ( 020 8952 8765
June 14
Crewe Memorial Hall, Church Lane, Wistaston, Crewe
Inter-Counties Numismatic Quiz
Crewe & District Coin & Medal Society ( 01270 569836
June 15
The St James Centre, Stadium Way, Pinhoe, Exeter
â&#x20AC;&#x153;Coins of Mexicoâ&#x20AC;? by Jim Strawbridge
Devon & Exeter NS ( 01395 5688830
C. A. B., 19 Tower Street, Ipswich
Memberâ&#x20AC;&#x2122;s Exhibition
Ipswich NS ( 01473 728653
Small Hall, Surbiton Library, Ewell Road, Surbiton
â&#x20AC;&#x153;An Introduction to Viking Coinage of Yorkâ&#x20AC;? by Megan Gooch
Kingston NS ( 020 8397 6944
St Paulâ&#x20AC;&#x2122;s Centre, Chapel Road, Worthing
Membersâ&#x20AC;&#x2122; Exhibition with light refreshments
Worthing & District NS ( 01634 260114
The White Horse, The Street, Trowse, Norwich
â&#x20AC;&#x153;Coins and Medals, Struck and Castâ&#x20AC;&#x201D;a Sculptors Approachâ&#x20AC;? by Ron Dutton
NORWICH COIN & MEDAL SOCIETY ( 01603 408393 www.norwichcoinandmedalsociety.co.uk
The Raven Inn, Poulshot, near Devizes, Wiltshire
Summer Coin Auction
Wiltshire NS ( 01380 828453
The Friends Meeting House, St Helenâ&#x20AC;&#x2122;s Street, Derby
â&#x20AC;&#x153;Heads and Talesâ&#x20AC;?â&#x20AC;&#x201D;stories and anecdotes by members
DERBYSHIRE NS ( 01283 223893
June 16 June 20
Nursery Inn, 258 Green Lane, Heaton Norris, Stockport
Annual General Meeting
South Manchester NS ( 0161 432 2044
June 24
Chelmsford Museum, Moulsham Street, Chelmsford
â&#x20AC;&#x153;Decimalisation of Sterling in the Coloniesâ&#x20AC;? by Richard Fife
Essex NS ( 01277 656627
June 27
Please call for venue details
â&#x20AC;&#x153;History of Farthingsâ&#x20AC;? by Dave Rayment
Harrow Coin Club ( 020 8952 8765
June 28
The Warburg Institute, Woburn Square, London
â&#x20AC;&#x153;News from Wales: Nummi and the Normansâ&#x20AC;? by Edward Besly
British NS ( 020 7563 4045
June 30
Room 301, Sylvia Young Theatre School, 1 Nutford Place, London
â&#x20AC;&#x153;Banknotes Not Printed for Circulationâ&#x20AC;? by Pam West
IBNS (London Branch) ( 020 8641 3224
&2,1 )$,5 7+( *5$1'67$1' <25. 5$&(&2856( )ULGD\ WK -XO\ DP² SP 6DWXUGD\ WK -XO\ DP² SP )HDWXULQJ Â&#x2021; &RLQV Â&#x2021; %DQNQRWHV Â&#x2021; 0HGDOV Â&#x2021; 7RNHQV Â&#x2021; $FFHVVRULHV Â&#x2021; 3XEOLFDWLRQV HWF
Â&#x2021; )UHH $GPLVVLRQ Â&#x2021; Â&#x2021; $$ 6LJQSRVWHG Â&#x2021; %DU %XIIHW
)RU LQIRUPDWLRQ ULQJ RU
ZZZ VWDPSVKRZV QHW 88
Coin News
The Largest Monthly Coin, Medal & Banknote Fair in the Country
The Midland Coin Fair
NATIONAL MOTORCYCLE MUSEUM Bickenhill, Birmingham, B92 0EJ Opposite the NEC on the M42/A45 junction. Free parking. Refreshments Second Sunday of EVERY Month 10.00 am to 3.30 pm Admission ÂŁ2 Running continuously for over 25 years!!
June 12th July 10th
All enquiries to Mike Veissid
Midland Coin Fair Hobsley House, Frodesley Shrewsbury, SY5 7HD Tel: 01694 731781
www.coinfairs.co.uk www.tokenpublishing.com
June 2011
Semi-display advertising Raise the profile of your business with an entry in this section— generous discounts available (see page 95 for details) Coins For Sale Roman, Celtic, English Hammered Coins, 17th Century Trade Tokens Write or telephone for a free copy of our large sales catalogue in which almost every item offered is illustrated.
Michael Trenerry
PO Box 55, Truro, Cornwall TR1 2YQ Tel: 01872 277977
Fax: 01872 225565
COINS
British, Roman and Ancient Greek Coins Bought and Sold
50 LINGFIELD ROAD, MARTINS WOOD, STEVENAGE, HERTS SG1 5SL
COINOTE
K. B. COINS
TEL: 01438 312661
I re l a n d 4 0 Pa g e N e t Pr i ce L i s t N ow Ava i l a b l e Irish Hammered, coinage of the Great Rebellion, Irish coppers, Silver Gun Money, Free State coinage Proofs and Morbiducci Patterns, Irish Art Medals and Irish Paper Money.
Del Parker
Email: irishcoins2000@hotmail.com
1-206-232-2560, PO Box 7568, Dallas TX 75209, USA See us at: Coinex, Dublin Fair & Simmons Fair, Baltimore & NYC Inc
PETER MORRIS 1 STATION CONCOURSE, BROMLEY NORTH BR STATION, KENT Open: Monday to Friday 10am–6pm Closed Wednesday Saturday 9am–2pm and other times by arrangement Write for free copy of latest coin list: FREEPOST (no stamp needed) PO BOX 223, BROMLEY, KENT BR1 4EQ Telephone 020 8313 3410 Visit our web site: www.petermorris.co.uk E-mail: coins @petermorris.co.uk
GLENN S. OGDEN
GLENELY COINS
A Comprehensive selection of British Coins New list available now
PO Box 57635, London, NW7 0DS
FAX: 01438 311990
Specialists in Buying and Selling Modern, Gold and Silver Coins from the UK and Around the World.
UK Freephone: 0800 085 2933/Int Tel: +44 208 343 2231 Email: sales@thelondoncoincompany.com Visit our Secure On-line Shop on www.thelondoncoincompany.com
www.glenelycoins.co.uk Tel: 01793 750307 07739 426194 Email: chris_kellow@hotmail.com
www.coinote.co.uk
Shop @ 74 Elwick Road, Hartlepool TS26 9AP
Open: Sun, Mon, Tues & Thurs
Coins, Banknotes, Stamps & Accessories Also at Stockton Market—Wednesday Chester Le Street Market—Saturday Tel: 01429 890894 • Mob: 07889 119363
MOORE ANTIQUITIES 01243 824232 07850 037091 www.mooreantiquities.com moore.antiquities@virgin.net WANTED AND FOR SALE:
Bronze Age, Celtic, Roman, Saxon, Viking, Medieval & later coins & artefacts up to 18th Century • Whole collections or single items purchased • Unit 12, Ford Lane Industrial Estate, Ford, Nr. Arundel, West Sussex BN18 0AA
English coins, send for a FREE list
53 Chestnut Crescent, Culver Green, Chudleigh TQ13 0PT Tel: 01626 859350 Mobile: 07971 709427 Email: glenn@gillianogden.wanadoo.co.uk www.glennogdencoins.com
– VALDA COINS – Separate lists of English coins for beginners to established collectors. Send for your free copy. EVANS, 80 Aberfan Road, Aberfan, Mid Glam CF48 4QJ Tel: 01443 690452
R.P. COINS
COINS, BOOKS, CATALOGUES & ACCESSORIES Bought & Sold. Please visit our website -
www.rpcoins.co.uk or call Rob Pearce on 07802 713444, fax 0161 798 7428 RP Coins, PO Box 367, Prestwich, Manchester, M25 9ZH
ON SALE NOW
Superb selection of Roman, British, Hammered & Milled coins. Gold, Silver, Copper & Bronze. For your FREE copy of our monthly list, please apply to:-
W. A. Nicholls
01430 879060 / 07905 467650 Specialists in Modern Gold and Silver Proof Coins and Sets Visit our e-shop and order on line at www.weightoncoin.co.uk
FORMAT
Although we specialise in foreign coins, we also buy and sell British
Format
Second Floor, Burlington Court, Lower Temple Street, Birmingham. Tel: 0121 643 2058 Fax: 0121 643 2210
HUGE FREE LISTS
English Hammered and Milled coins
023 - 8032 - 4258
PO Box 44, Bilston, West Midlands WV14 6YX. Tel: 01543 452476
206 Honeysuckle Road, Soton SO16 3BU
BRITISH COINS FOR SALE
www.coinsandtokens.com
Crowns to fractional farthings. Copper and bronze specialist. Some foreign. DAVID CRADDOCK PO Box 3785, Camp Hill, Birmingham B11 2NF Tel/Fax: 0121 773 2259 Send for free list
DORSET COIN COMPANY LTD Dealing in British Coins, Sets, Proofs, Foreign Coins and Banknotes. Send for latest list
193, Ashley Road, Parkstone, Poole, Dorset BH14 9DL. Tel: 01202 739606
ANTHONY HALSE
A large selection of coins from budget priced date fillers to coins for the advanced collector. Send for a free list of English, Foreign and Tokens PO BOX 1856, Newport South Wales, NP18 2WA 01633 413238
Never miss an issue of COIN NEWS— Take out your subscription today and save nearly £10 per year!
Telephone: 01404 44166
Log on to our website at www.tokenpublishing.com for all the latest news, views, events, books, accessories and much more . . . June 2011
www.tokenpublishing.com
Coin news
89
Semi-display advertising MEMORABILIA
We stock all types of Manx memorabilia including banknotes, coins, postcards etc. Shop open 10-4 Mon–Sat 21 ST PAULS SQUARE, RAMSEY, ISLE OF MAN
Email:tonyhar@manx.net Tel: 01624 818303/07624 492484
Buying and selling English hammered coins, British milled coins and British tokens. Meet me at the fairs. Large ebay stock.
20 Cecil Court, London WC2N 4HE Paper Money Dealers Visit our Web site at: http://www.colin-narbeth.com A wide range of notes on offer
MATT HOOD MEMORIAL COIN AUCTION Postal auction with monthly catalogues A Free list of World and British banknotes is available from
D. YAPP PO Box 4718, SHREWSBURY, SY1 9EA Tel: 01743 232557 www.david-yapp.com
Arghans
Tel: 0191 3719 700 email: igradon960@aol.com website: www.worldnotes.co.uk
Roger Outing PO Box 123 Huddersfield HD8 9WY Tel: 01484 860415 rogerandliz@banknotes4u.co.uk www.banknotes4u.co.uk
We stock a huge range of Banknotes and Coins from UK and around the World, also Tokens and Medals, Roman & Celtic and a host of other collectables. View our current catalogue online at
www.oldbanknoteshop.co.uk
Contact email: jim@oldbanknoteshop.co.uk
British Notes Buying/Selling
Quality British Notes
Pam West, PO Box 257, Sutton, Surrey. SM3 9WW Tel/Fax: 0208 641 3224 Email: pamwestbritnotes@aol.com www.britishnotes.co.uk www.cambridgeshirecoins.com
Buying and selling for over 20 years
Coins Wanted. Gold-Silver-Copper-Collections. Over 5,000 Coins for sale on-line. Coin Trays – Capsules – Albums – Books. 01223 503073
90
info@cambridgeshirecoins.com
Coin news
For a free catalogue contact: Tim Barna, PO Box 335, Lyndhurst, Hants SO40 0DA. Tel: 07833-692956 mhmca@hotmail.co.uk
Medallions
TIMOTHY MILLETT LTD
catalogue of historical medals now available
List from Arghans, Unit 9, Callington Business Park, Tinners Way, Moss Side, CALLINGTON PL17 7SH. Tel: 01579-382405 e-mail: keithp44@waitrose.com
Banknotes bought and sold. Bulk lots, collections and single items wanted.
Ye Olde Banknote Shoppe
UK, Foreign & Ancient Coins Tokens, Medals, Banknotes, etc
African banknotes – sensible prices
IAN GRADON WORLD NOTES
Coin Shops
London Meetings now held at:
Room 301 Sylvia Young Theatre School 1 Nutford Place off Edgware Road London W1 5YZ
A list of forthcoming auctions can be found on page 86
For a comprehensive catalogue of Ancient Greek, Roman, Judaean, Parthian, Sasanian, Byzantine, Early British, European and Crusader Coins, please write or telephone for a free copy F. J. Rist, Po Box 4, Ibstock, Leics LE67 6ZJ Tel: 01530 264278
Buying Swiss 80%, Can 80% and Ireland 80% Contact: Universal Currency Coin Exchange, UCCE, PO Box 57648, Mill Hill, NW7 0FE Tel: 07831 662594 E-mail: uccedcp@aol.com. www.coinsonline.co.uk
LONDON COINS
4 - 6 Upper Street South • New Ash Green • Kent • DA3 8JJ Tel: 01474 871464 • Email: info@londoncoins.co.uk • Website:www.londoncoins.co.uk
www.ibnslondon.org.uk Chairperson Pam West Email: pamew39@aol.com
F. J. RIST
UNIVERSAL CURRENCY COIN EXCHANGE
Next Auction: Keep a look out for details! • Viewing arrangements now include Saturday & Sunday • NEW Catalogue format available • Call us or check out our new website for more information
BRITISH BANKNOTES
Probably the biggest selection in the UK, mostly high grades. BRADBURY to LOWTHER Free up to date computer listing. Tel: 01736 871263 Trebehor, Porthcorno, Penzance, Cornwall TR19 6LX
Email: sales@johnnewmancoins.com Tel: 01903 239867. Mobile: 07814 793312 www.johnnewmancoins.com
Coins Wanted
LONDON COINS AUCTION
Colin Narbeth & Son Ltd
To receive your copy please send £15 (Refundable on purchase) to: PO Box 20851, London SE22 OYN Tel: 020 8693 1111 Fax: 020 8299 3733
s lat end est fo lis r t
Email: tim@historicmedals.com NEW WEBSITE: www.historicmedals.com
CHARLES RILEY COINS & MEDALS
Professional Numismatist since 1990 Coins and medallions bought and sold
PO Box 733, Aylesbury HP22 9AX Tel: 01296 747598 email: charles.riley@virgin.net
www.charlesriley.co.uk
Specialising in British banking history: cheques, books, banknotes and all banking memorabilia
Auctions/Fairs/Societies World Paper Money Fair 2011 NEW VENUE Bloomsbury Hotel 16–22 Great Russell Street London WC1B 3NN
Fri Sep 30th 10-6pm Sat October 1st 10-4pm
An invitation to view our website
www.pdmedallions.co.uk • • • •
Buy historical medals on line. British, European, World medals available. Browse through our current stock. Regular up-dating of items for sale.
We buy single or collections of medals.
Accessories
www.wpmf.info email: enquiries@wpmf.info Sponsored by Spink
B. FRANK & SON
Numismatic Auctioneers (Est 1983)
Our next sale (No. 83) will be on 7 August in Wakefield You can bid live on the internet OR we will send you a FREE catalogue, OR watch our website
B. FRANK & SON, 3 South Ave.,Ryton, NE40 3LD 0191 413 8749 Email: bfrankandson@aol.com Website: www.b-frank-and-son.co.uk
www.tokenpublishing.com
June 2011
Web directory Increase the traďŹ&#x192;c to your site with an entry in this section. All entries are hot-linked in the digital issue so new collectors are just a click away! See page 95 for details.
www.HistoryInCoins.com Â&#x160; Hammered to Milled: English, Irish & Scottish Â&#x160; Catering for beginners right through to serious collectors Â&#x160; Established February 2001. Fresh additions EVERY Tuesday Â&#x160; 3,000+ ITEMS FOR SALE (all with obverse & reverse images) $PHULFDQ &RORQ\ 7LQ 3ODQWDWLRQ 7RNHQ 0DGH XQGHU OLFHQFH WR 5LFKDUG +ROW $Q RULJLQDO WRNHQ QRW D UHVWULNH /LVWHG DW Â&#x2026;
Mention this advert and buy this coin for ÂŁ395. Tel: 07944 374600
Coins
www.coincraft.com British coins, World coins, British banknotes, World banknotes, Roman coins, Greek coins, antiquities, medallions, supplies, Edward VIII bought and sold.
www.oldbanknoteshop.co.uk Huge on-line range of coins and banknotes. View our current catalogue on-line at www.oldbanknoteshop.co.uk
www.tokenpublishing.com The one stop shop for all your collecting needs plus latest news and much, much more. Log on now to www.tokenpublishing.com.
www.chards.co.uk
View our stock on-line. Vast selection from Roman to modern. Exclusive gold site and many collector items. Proofs and bullion. Many special offers. Links to all other Chard websites
foreigncoin.com Over 4,000 certiďŹ ed coins
www.coinsofbritain.com
Lloyd Bennett. A good selection of British coins from Saxon times to the present day. English hammered coinage, occasionally Celtic, Roman and Anitquities. All items illustrated and updated weekly.
www.davidseamancoins.co.uk
www.gilliscoins.com Ancient coins, Greek, Celtic, Roman, Byzantine, Saxon, Viking, English, Irish, Scottish, Tokens. Antiques as before including Bronze-age, Iron-age, Dark-age, Medieval pottery, glass etc.
For everything you need to know about Petition Crowns log on to:
www.petitioncrown.com
www.ringramcoins.com
ď łSimple to use. ď łScreen sized photographs of each piece. ď łMainly British milled with a selection of hammered and good selection of maundy sets and odds.
The Biggest selection of English coins on the Web. An extensive selection of Hammered including Gold as well as a vast range of Milled from 1656 to date. 023 80324258
www.saltfordcoins.com
argentumandcoins.co.uk/
Try the rest Then try the best
www.saltfordcoins.com Irish Coins and Notes Ancient Greek & Roman Del Parker
irishcoins.com
Specialising in British milled coinage from 1662 to date ď ˇAll coins pictured on the websiteď ˇ ď ˇSecure on-line paymentď ˇ
www.cngcoins.com Classical Numismatic Group offers continuous on-line auctions of Greek, Celtic, Roman, Byzantine, Medieval British and World coins.
www.pennycrowncoins.co.uk An extensive catalogue mostly comprised of English and United Kingdom milled issues Each coin illustrated using high-quality photographs
June 2011
www.tokenpublishing.com
Coin news
91
Web directory www.tonyharmer.org Coins and banknotes, postcards,stamps and Collectables
www.wrightcoins.com
British, gold, silver and copper coins, many high grade and rare milled coins for sale, hammered also available. 01398 323211
www.denofantiquity.co.uk Buying & Selling Ancient Coins & Antiquities
Tel: 01223 863002 Email: thedenofantiquity@yahoo.co.uk
Coins, postcards, antiques and collectables, all items photographed, updating weekly
www.clickcollect-coins.co.uk
www.scccollectables.com
We buy and sell British and Foreign coins of all ages and reigns in our easy to use website
Visit us and have a look around
www.downies.com
Australia’s largest coin dealer, specialising in Australian coins and banknotes, world coinage, stamps, medals and quality numismatic material. Visit our website for online shopping and free catalogue
www.weightoncoin.co.uk Specialists in Modern Gold and Silver Proof Coins and Sets Sovereigns of different dates and Mint marks always available.
www.yorkcoins.com www.spink.com COINS, BANKNOTES, MEDALS, STAMPS AND BOOKS – THE COMPLETE ONLINE SERVICE FOR THE COLLECTOR.
Roman, Ancient British, English, Scottish & Irish Hammerd Coins ~Professional Numismatist~
Banknotes
www.David-yapp.com British and World Banknotes
www.David-yapp.com Books www.douglassaville.com Out of Print, Secondhand and Rare Books on Coins, Tokens, Medallions, Orders, Decorations and Medals. Easy to use Website listing books for sale. All areas of the subject.
www.galata.co.uk NUMISMATIC BOOKS, COINS AND TOKENS Books for metal detectorists and beginners a speciality. We even write them ourselves. Website updated twice weekly
Auctions
www.warwickandwarwick.com Free valuations without obligation on specialist collections and single coins, old accumulations, dealers’ stock, hoards and even unpopular and obscure material
www.gbgoldcoins.com
Buyers and sellers of World and British Gold Coins—Fair prices paid for Sovereigns and Krugerrands
www.croydoncoinauctions.co.uk Bi-monthly sales of English, Foreign and Ancient Coins, Medallions, Tokens and Banknotes. See our website for free on-line catalogue.
www.cambridgeshirecoins.com
Antiquities
Coins Wanted
www.antiquities.co.uk
Buying and selling for over 20 years Over 5,000 coins online
info@cambridgeshirecoins.com
Quality Ancient Coins and Antiquities
www.celticcoins.com Chris Rudd sells more Celtic than anyone else worldwide. For a free catalogue phone
01263 735 007
www.danielfearon.com
British and World Historical Medals and Medallions, Art Medals and all related pieces. Changing stock listed for sale
To advertise on this page please complete the entry form on page 95
www.johnnewmancoins.com Buying and selling English hammered coins, British milled coins and British tokens.
www.buybullioncoins.com Gold sovereigns—£225 Tel: Paul on 07779 461929
Accessories
www.coincabinets.com Peter Nichols, Cabinet Makers Full range of coin cabinets available. Tel: 01424 436682. Email: orders@coincabinets.com
COIN I N C O R P O R A T I N G
COIN NEWS • ENGLISH CIVIL WAR HOARDS • BRITAIN’S FIFTY
money
APRIL 2011 £3.65
B A N K N O T E
N E W S
talks
Extra special
Gold worthy a King’s speecof h
PENCE PIECE
IN THIS ISSUE
Vol. 48 No. 04
Coin news
THE CEO OF RAM
92
INTERVIEW WITH
Go to tokenpublishing.com for more details
April 2011
Subscribe to COIN NEWS and receive the digital version free of charge.
Where
NEWS
01223 503073
BANK OF SCOTLAND The Sir Walter Scott series 1970–94 What’s it worth?
www.tokenpublishing.com
This month we
focus on halfpennies
MUST BE A HOARD A lucky find while walking the dog! and Belfast Banking
Co. & First Trust
Bank
June 2011
Classifieds Use the classified section to locate a rare coin, sell unwanted items, or simply exchange correspondence with other collectors— Advertising is FREE for non-trade COIN NEWS subscribers, so why not take out your subscription today! Coins for sale US COINS National Park quarters, State quarters, Presidential dollars, NAD dollars, Kennedy halves, Lincoln cents, Proof sets, etc. Contact Mark: 01924 255738. Email: mbrook218@aol.com. (06/11) COLLECTOR SELLING his pre-decimal Australian copper and silver collection (552 coins), possibly one lot. Interested— contact by email: fahrmann@ hotmail.com. (08/11) FREE STAMPS/COINS LIST, shilling 1918 BU, £45.95 (freep&p), florin 1916 BU, £45.95 (free p&p). Contact A. Trivella, 11 Glebe Road, Rugeley, Staffs., WS15 4HD. Tel/fax: 011543 490439, email: aurelio@ntlworld.com (08/11). UNITED STATES MOUNT RUSHMORE proof anniversary coins, 1991 one dollar and half dollar, offers. Tel: 01359 250012. (08/11) IRISH MILLENNIUM £1 coins. Mint, uncirculated in bank sealed bag of 20 coins. Please telephone: 00 35386 2475909 anytime. (06/11/03T) WWWCOINSONABUDGET. CO.UK A great site for new collectors, also for filling in those elusive gaps. Great prices: new items being added all the time. Wants lists welcomed—a fast friendly service. Contact me on the above website. (09/11/03T) ENGLISH AND UK COINS. Please ask for list— G. Ogden, 53 Chestnut Crescent, Culver Green, Chudleigh TQ13 0PT Tel: 01626 859350. (12/11/12A COLLECTOR DISPOSING of remaining collection of Proof sets. Coins of Australia, New Zealand, IOM. Bargains galore. Please contact Dr Haslam on 0151 677 5967. (06/11) HALFCROWN 1930 VG £7; florin 1932 VG £7; Shilling 1959s F £1, VF £2, EF £6. P&P £2. Please contact B. Mitchell, Piedemonte, Tong Lane, Britannia Bacup, Lancs. OL13 9XB. (06/11) BRITISH DATE sets 1962 to 1968. Offers. Please tel: 01359 250012. (07/11) ANCIENT AND HAMMERED COINS PLUS CLASSICAL ANTIQUITIES for sale. Large display at The Ginnel Antiques Centre, Harrogate. Odyssey PO Box 61, Southport, PR9 0PZ. Telephone: 01704 232494. (08/11/06T)
MOUNT RUSHMORE 1991 two coin Proof set, boxed silver dollar and half dollar— £70. Please telephone: 01359 250012. (05/11) ROMAN, CELTIC, ENGLISH HAMMERED AND BRITISH COINS BEFORE 1895 for sale and wanted—ring anytime or write for mail order sales catalogue, or visit our stall at antiques fairs in the South. Ancient & Gothic, PO Box 5390, Bournemouth, BH7 6XR. Tel: 01202 431721. Established 1977. (01/12/12T) FREE ENGLISH—FOREIGN LISTS. Crowns to farthing fractions. Proof—BU sets. Maundy odds. Banknotes. Tel: 01709 526697. (10/12/24T) NEW COIN DEALER IN CHEDDAR. Down to earth coins and notes at down to earth prices. Twentieth century circulated coins bought and sold. CLOUD “9”, 4 Queen’s Row, Cheddar Gorge. 01934 744679. (10/11P) FREE CATALOGUE! FREE COINS! FREE BANKNOTES! Extensive range of coins, ancient to modern, tokens, banknotes, antiquities and related items. Low to medium grades our speciality! (UK only) Contact: Dei Gratia, PO Box 3568, Buckingham, Bucks., MK18 4ZS (stamp appreciated). Telephone: 01280 848000. Email: daves@ dgcoins.freeserve.co.uk. Go to website at: www.dgcoins. freeserve.co.uk. (08/11/06T) ELIZABETH II Royal Mint proof sets 1971–2005. Offers. Te l e p h o n e : 0 1 2 3 4 3 0 6 5 8 0 (Bedford). (12/12) MAUNDY SETS 1904, 1905, 1914, 1915 UNC toned in red dated boxes. Excellent condition. 01473 414646. (04/12) PRESTIGE NUMISMATICS the place for all types of premium World coins. Customer satisfaction is our priority. www. p re s t i g e n u m i s m a t i c s . c o m . (08/11/03T) WORLD COINS: Medieval and modern. Tokens, Countermarks, Jettons, medallions etc. Please send an SAE for latest list to: Stephen Betts, 4 Victoria Street, Narborough, Leicester LE19 2DP. (12/11/06T) 19TH AND 20TH CENTURY world coins including some silver. Superb variety. 1kg £15, 5kg £60 (post paid). Please contact: I. Raja, 65-67 Stamford Street, Bradford, BD4 8SD. (05/11)
MERLINS OF GODALMING, Bridge Street, Godalming, Surrey. Celtic, Roman, hammered, milled. 01483 426155. Sorry no lists. (05/12/12T) US COINS National Park quarters, State quarters, Presidential dollars, NAD dollars, Kennedy halves, Lincoln cents, Proof sets, etc. Mark—01924 255738. Email: mbrook218@aol.com. (05/11) PETERCOINS—your local coin shop on the net! Selling a wide range of British coins. www.petercoins.com. SAE for www.petercoins.com list to: PO Box 46743, London, SW17 0YF. (11/11/12T) SP ASIMI, selling BRITISH MILLED coins 1662–1946. Visit our cabinet at: THE EMPORIUM, 112 High Street, HUNGERFORD, Berkshire RG17 0NB, 01488 686959. (01/12/12T) ANCIENT GREEK AND ROMAN COINS. Free catalogue. Great for beginners and budget minded collectors. For more information contact T. Barna, PO Box 335, Lyndhurst, SO40 0DA. Email: tbarna_ andsonuk@hotmail.com (09/11/06T) BRITISH COINS FREE LIST of inexpensive coins plus details of free gift. Des Welton, 13 Monmouth Road, Harlington, Dunstable, Beds, LU5 6NE, or email: des.welton@ntlworld. com. (06/11/06T) WORLD AND BRITISH COINS. Please send for a free list. James & C. Brett, 17, Dale Road, Lewes, Sussex BN7 1LH. Web list available from jc.brett@ btinternet.com. (06/11/06T) EARLY ENGLISH MILLED: The most extensive date range available anywhere. 1658–1967 Farthings—Gold virtually every date. Free list tel: 023 80324258, write to 206 Honeysuckle Rd, Southampton SO16 3BU, email: info@ringramcoins. com. www.ringramcoins.com www.ringramcoins.com. (10/11/12/A) US COINS National Park quarters, State quarters, Presidential dollars, NAD dollars, Kennedy halves, Lincoln cents, Proof sets, etc. Mark— 01924 255738. Email: mbrook218@aol.com. (00811)
Coins Wanted COLOURED COINS WANTED. Cook Islands$, 1990-99, and or Cuba pirates series. Contact Charles on 01473 682392. (08/11)
SELECTED BRITISH COINS for all tastes. Fast, friendly and efficient service. British coins bought and sold. View coinsonline in the shop. Contact Barry Kemp on 01706 344520. (11/11/06A) PRE-1920 SILVER COINS wanted. 30x face paid. Pre-47 18x face. Please phone 020 8530 4109, or send details to Nick Lyons, 1 Millbrook, 73 Woodford Road, South Woodford, London, E18 2EB. (08/12) 1863 GB FLORIN needed urgently. Minimum fine condition. £500+paid Please send details by email to: wmgg.1923@tiscali.co.uk. (08/11) BUYING PRE-47 SILVER AT 24x face; Call/write for latest price. Buying obsolete but redeemable banknotes/coins of Switzerland, Ireland, Germany & most other countries. Collectable coins/tokens wanted. Please contact: Taylor, 4 Sherwood Avenue, Ruislip, Middlesex HA4 7XL. Telephone: 01895 638885. (06/11/06T) BUYING PRE-47 SILVER 24x FACE, PRE-20 40x FACE. USA Pre-1965 10 cents to 1$ £8 per $. CANADA Pre-1965 £6 per $. Wanted REDEEMABLE NOTES of Cyprus, Greece, Italy, Malta, France, Belgium, Portugal. COINS/NOTES of Spain, Germany, Ireland, Austria, Switzerland. Taylor, 4 Sherwood Avenue, Ruislip, Middx. HA4 7XL. Please telephone 01895 638885. (11/11/06T) BRITANNIA AS OF HADRIAN (BMC 1174) wanted in high grade (GVF or above). Any reasonable price considered. Care of Lawrence Chard 521 Lytham Road Blackpool. 01253 342081. (RTC)
Classified advertising is free for nontrade subscribers, simply complete the form on page 94
Subscribe to COIN NEWS today and receive the digital version free of charge. Simply call 01404 44166 June 2011
www.tokenpublishing.com
Coin news
93
Classifieds Coins Wanted AUSTRALIAN PRE-1966 SILVER AND COPPER COINS WANTED. tel: 0794191 9686, email: mc@guanomondo.com. (09/11/06T) WANTED DONATIONS OF BRITISH or foreign coins, banknotes. Please send to to Dogs for the Disabled, The Frances Hay Centre, Blacklocks Hill, Banbury, Oxen OX17 2BS. Charity No: 1092960 (05/12/12C) £3,000 for the rare Royal Mint error of 2008. The One penny (Royal Shield) with the Queen’s head upside down! Please telephone with details: 07587 103617. (04/12/12T) ILLUSTRATIONS (ONLY) of Turks & Caicos Islands halfcrown 1961, George I, two thirds Thalers. rovenances will be acknowledged. Email: mauricebull@btinternet.com. (07/11) ILLUSTRATIONS (ONLY) WA N T E D o f t w o t h i rd s Thalers—1714–1837, Scottish Two Merks, Half-dollars & 40 shillings—1664–1700 for inclusion in my forthcoming publication. Provenances will be acknowledged. Email: mauricebull@btinternet.com. 08/11) BUYING PRE-47 and pre1920 silver. Also uncirculated pennies and half pennies wanted. Please telephone: 0121 604 1680. (08/11) WE BUY SOVEREIGNS— best prices paid. Telephone Paul on: 07779 461929 (10/11/06A) PRE-47 & PRE-20 silver wanted. Also modern 925 silver crowns or ingots. Top prices paid. Contact: 01935 824878. (12/11/12A)
SPANISH COINS IN GOLD AND SILVER, especially “COBS”. (Portuguese and Dutch coins also wanted). Please contact: Beachcomber Trading Company (BTC) PO Box 8, Newport, Isle of Wight, P030 5JW. Tel: 01983-740712, or fax: 01983 740800. (04/12/12T) WORLD AND BRITISH gold coins wanted. Fair prices paid. 07917 160308. (07/11/06A) SHIPWRECK COINS, any wreck, any quantity. Also shipwreck auction catalogues. BTC, PO Box 8, Newport, Isle of Wight, PO30 5JW. 01983 740712. Fax: 01983 740800. (04/12/12T) BRITISH COINS wanted by collector. Almost anything considered. Phone Chris on 01793 750307/07739 426194. (06/11/12T) REGISTERED CHILDRENS CHARITY 295732. Require donations of coins, tokens, banknotes, anything saleable. Please send to W. E. Cornish, 70 Downham Gardens, Tamerton Folit, Plymouth PL5 4QF. (02/12/12C) IRISH EIRE FARTHINGS 1928 to 1940 £3 each paid for circulated undamaged. Please contact Bill Seawright, 42 Rosscoole Park, Belfast, BT14 8JX, postage refunded. Telphone: 02890710115 or email: e.m-b.sitrac@gmail.com. (06/11) DANZIG WANTED. High grade coins 1923 onwards. Top prices paid. Email: wmg.1923@ tiscali.co.uk. (12/12) SHILLINGS WANTED— Uncirculated 1839 WW ESC1280, 1841, 1848/6 (EF or better) or 1895 small rose. Send details/price required to got.a.bob@gmail.com. (06/11)
GIBRALTAR URGENTLY WANTED. Two crowns BIMETAL COINS from 2003, showing the goddess “EUROPA AND THE BULL”. Any offer welcome by mail, fax or email! Please contact: Christian Hannig, Katenbaeker Berg 56, 27793 Wildeshausen, Germany. Fax: 0049 4431 3524, email: christhannig@gmx.de. (07/11/03P) 2009 MAUNDY SETS OR COINS WANTED. Fair prices paid. 0118 9860906. (06/11) PRE-1947 silver coins wanted. P re - 1 9 2 0 a l s o . T h e re a re probably many adverts in this column wanting these coins so if you phone around PLEASE PHONE US LAST for the best possible offer you will get! Est. 1966. 07879 865 118 or email: info@uk-mint.com Web: www. uk-mint.com. (08/11/12T) ADVERTISE COINS WANTED/FOR SALE— it’s free for non-trade subscibers!
BLACK CAT COINS. Buying English Milled coins. Gold, silver, copper, bronze, proof sets, Maundy money. We are located in the Oxfordshire area and can arrange a home visit to you at your convenience. Tel: 01844 279832 or email: blackcatcoins@ live.co.uk. (12/11/12T)
Banknotes
WORLDWIDE BANKNOTES AND COINS at great prices. Please visit: www. collectorscurrency.com or email: bruce.tupholme@gmail. com. (04/12/12T) QUALITY BANKNOTES from the British Isles & Commonwealth. www. notability-banknotes.com, or email: info@notabilitybanknotes.com. (09/11/06A)
WORLD BANKNOTES— cheapest prices, most under one pound each. SAE to R. C. Holmes, PO Box 326, Bangor, Co.Down, BT20 5PD or email: rc h o l m e s 2 1 @ y a h o o . c o . u k . (07/11) BANKNOTES WANTED— Peppiatt £5, Liverpool, 8 August 1935, O’Brien £5, C34A, 12 March 1956. Please phone Peter: 020 8642 4094. (08/11)
Cheques & Ephemera Are you interested in collecting Old Cheques, other Financial Instruments or Banking Ephemera? Then why not join the British Banking History Society. Telephone: Keith for info: 020 83605665. (11/11)
Miscellaneous
AUCTION CATALOGUES, numismatic groups, June 5, 1991 to December 4, 1996. 26 catalogues in all—£52.00 the lot plus p&p. Mr D. R. Twiddy, tel: 01926 315860. (08/11) NZ AND AUSTRALIAN postcards wanted to buy. Phone: 0794 1919686. (09/11/06T) O LY M P I C GAMES MEMORABILIA WANTED. Medals, diplomas, badges, pins, programmes, tickets, posters, souvenirs etc. Please send details by post to: Strom, Drottninggatan 90 A, 111 36 Stockholm, Sweden. Tel/Fax: +46 8 600 3452 (5/11) EXCHANGE ALL kinds of collectables. References available. Free numismatic literature to numismatic students. Details to Antonis Filippou, 24 Tsalduhidi Str., 54248 Thessaloniki, Greece. (07/11)
CLASSIFIED ADVERTS MUST BE PREPAID—THE NEXT DEADLINES ARE: July issue—May 23, 2011. August issue—June 20 FREE TO NON-TRADE SUBSCRIBERS. TRADE RATES: 30p per word (minimum £3), Bold type 40p per word.
94
Coin News
www.tokenpublishing.com
June 2011
Directory section Advertisers Index ABC Coins and Tokens.................................... 57 Airedale................................................................ 45 Argentum............................................................ 77 ATS Bullion Ltd................................................... 52 Allgold Coins ..................................................... 16 Baldwins Auctions......................................13, 30 R. P. & P. J. Beckett............................................. 56 Birchin Lane Gold Coin Company.............. 57 Yves Blot............................................................... 57 BNTA...................................................................... 84 Bonhams.............................................................IBC Barry Boswell...................................................... 69 B. S. A. Auctions................................................. 81 BullionSupermarket.com.............................. 22 Buy Bullion Coins.............................................. 83 Cambridge Coins & Jewellery......................44 Cambridgeshire Coins.................................... 56 Chards................................................................... 23 CNG........................................................................ 57 Coincraft......................................... IFC, 37, 45, 73 Colin Cooke............................................................5 Collectors World............................................... 66 Croydon Coin Auctions.................................. 86
Paul Davies Ltd...................................................12 Paul Davis Birmingham Ltd........................... 85 Clive Dennett..................................................... 69 Dix Noonan Webb........................................ 7, 35 Dorset Coins....................................................... 77 Roger Dudley..................................................... 81 The Duncannon Partnership........................ 46 Educational Coin Company.......................... 69 Christopher Eimer.............................................11 Malcolm Ellis Coins........................................... 82 Format...................................................................44 GB Gold Coins.................................................... 49 GK Coins............................................................... 53 Goulborn.............................................................. 61 Ian Gradon........................................................... 64 A. D. Hamilton.................................................... 73 History in coins.................................................. 91 IAPN........................................................................ 14 R. Ingram Coins................................................ 8, 9 Richard Jeffery................................................... 81 K. B. Coins............................................................. 39 Kate’s Paper Money......................................... 64 Kleeford Coins.................................................... 85
Knightsbridge Coins........................................ 63 Kuenker....................................................................4 Lindner.................................................................. 60 The London Coin Company................... 18, 91 The London Coin Fair...................................... 87 London Coins..................................................... 53 MA Shops............................................................. 77 Giuseppe Miceli.......................................... 78, 79 Midland Coin Fair.............................................. 88 Monk Fairs........................................................... 85 Morton & Eden................................................... 26 Peter Morris......................................................... 66 Colin Narbeth & Son Ltd................................ 64 New Zealand Post................................................3 NGC.........................................................................15 Peter Nichols Cabinet Makers...................... 57 Notability............................................................. 73 Numismatica Ars Classica.............................. 49 Orpington Coins & Medals............................ 53 Paul’s Paper Money.......................................... 73 Penny Crown Coins.......................................... 52 David Pratchett.................................................. 56 Roderick Richardson....................................... 46
Royal Australian Mint...................................... 21 Royal Mint................................................. 25, OBC Chris Rudd..............................................................2 Douglas Saville ................................................. 83 Silbury Coins....................................................... 48 South Coast Coin & Medal Show................ 87 Stack’s, Bowers & Ponterio............................ 60 Stamp & Coin Mart........................................... 64 St James’s Auctions.......................................... 19 Token Publishing Ltd....................................... 96 Treasure Hunting.............................................. 66 Michael Trenerry Ltd....................................... 49 Wakefield Fair..................................................... 87 Warwick & Warwick......................................6, 40 Weighton Coin Wonders............................... 83 West Essex Coin Investments...................... 80 Tim Wilkes............................................................ 46 Trevor Wilkin....................................................... 66 York Coin Fair...................................................... 88 York Coins............................................................ 77
Online advertisers A F BROCK & CO LTD www.afbrock.co.uk A H BALDWIN & SONS LTD www.baldwin.sh ABC COINS AND TOKENS www.abccoinsandtokens.com ALLGOLD www.allgoldcoins.co.uk AMR COINS www.amrcoins.com ANTIQUE ENGLISH COINS www.ringramcoins.com ANTIQUITIES & COINS - NIGEL MILLS www.nigelmills.net DEN OF ANTIQUITY www.denofantiquity.co.uk B. FRANK & SON www.b-frank-and-son.co.uk
BRITISH COINS www.predecimal.com CELTIC COINS www.celticcoins.com CHARD www.chards.co.uk CHARLES RILEY COIN AND MEDALS www.charlesriley.co.uk COINCRAFT www.coincraft.com COINOTE SERVICES www.coinote.co.uk LANCE CHAPLIN www.shaftesbury.com COINS OF BRITAIN, LLOYD BENNETT www.coinsofbritain.biz
COLLECTORSCURRENCY.COM www.collectorscurrency.com COLONIAL COINS AND MEDALS www.coinmedalshop.com.au CONSTABLE COINS LTD www.constablecoins.com DAVID SEAMAN www.davidseamancoins.co.uk DIX NOONAN WEBB www.dnw.co.uk DOUGLAS SAVILLE www.douglassaville.com F J JEFFERY & SON LTD www.collectable-coins.net GLENN OGDEN www.glennogdencoins.com HADRIAN ROMAN COINS www.hadriancoins.com
J B J COINS www.jbjcoins.dk LIBERALITAS www.liberalitas.co.uk MA SHOPS www.ma-shops.com MARK RASMUSSEN www.rascoins.com MONETARIUM www.monetarium.com.au OLD BANKNOTE SHOP www.oldbanknoteshop.co.uk PRECIOUS METALS AND COINS EXCHANGE www.pmcex.com RODERICK RICHARDSON www.roderickrichardson.com SIMMONS GALLERY www.simmonsgallery.co.uk
STUDIO COINS www.studiocoins.net THE LONDON COIN COMPANY LTD www.thelondoncoincompany.com THE RARE COIN COMPANY www.rarecoin.com.au THE SCOIN SHOP www.scoinshop.com TIM MILLETT www.historicmedals.com TIME LINE ANTIQUITIES www.time-lines.co.uk TIME LINE ORIGINALS www.time-lines.co.uk WARWICK AND WARWICK www.warwickandwarwick.com WEIGHTON COIN WONDERS www.weightoncoin.co.uk
The above advertisers are detailed on our online Dealer Directory—to find out more about them go to www.tokenpublishing.com
The Web Page Entry Form
Semi Display Entry Form
Yes, I would like an entry on The Web Pages, detailing my web address and up to 20 words describing my business. Rates are £20 per insertion plus VAT (mono), £25 per insertion plus VAT (colour) less up to 20% discount for series bookings, invoiced monthly with a complimentary copy of COIN NEWS.
q
Yes, I would like an entry in the Semi Display section, where design and type setting is free of charge! Rates are: £12 per column centimetre plus VAT (mono), £14 per column centimetre plus VAT (colour), less up to 20% discount for series bookings, invoiced monthly with a complimentary copy of COIN NEWS.
q
Your Web Address............................................................................................ Up to 20 words describing your business............................................... ................................................................................................................................ ................................................................................................................................ ................................................................................................................................ ................................................................................................................................ ................................................................................................................................
Your Text.............................................................................................................. ................................................................................................................................ ................................................................................................................................ ................................................................................................................................ ................................................................................................................................ ................................................................................................................................ Size of Advertisement.....................................................................................
Name.................................................................................................................................................................................................................................................................. Address............................................................................................................................................................................................................................................................. ............................................................................................................................................................................................................................................................................. ............................................................................................................................................................................................................................................................................. Number of Issues Booked.......................................................................................................................................................................................................................... Cheque enclosed / Please invoice me................................................................................................................................................................................................... Total Amount..................................................................................................................................................................................................................................................
Please send your completed form to: Celia Dunsford, Token Publishing Ltd, Orchard House, Duchy Road, Heathpark, Honiton EX14 1YD. Alternatively call or e-mail to discuss your personal design requirements! E-mail: celia@tokenpublishing.com Tel: 01404 44167 June 2011
www.tokenpublishing.com
Coin News
95
Available from Token Publishing EW
Krause Standard Catalogs ®
N
The reference books used by collectors and dealers throughout the world
q
q q q q
q
Coin News subscription:
FOR A LARGE SELECTION OF ACCESSORIES, PLEASE SEE OUR WEBSITE:
WWW.TOKENPUBLISHING.COM
Your Personal Details
Name .......................................................... Address ...................................................... .................................................................... .................................................................... Postcode..................................................... Telephone ................................................... Signature ....................................................
Your Payment Details
We accept: Visa • Mastercard • JCB • Switch Card no: Expiry date:____/____Valid from:____/____ Issue no. (Switch) ______ Authorisation Code*______
Total incl p&p______ By cheque: Please make payable to Token Publishing Ltd (*Last 3 digits from signature strip)
Please send to: Token Publishing Ltd, Orchard House, Duchy Road, Heathpark, Honiton, Devon. EX14 1YD Tel: Fax: 01404 44788 www.tokenpublishing.com Coin n44166 ews 96 01404 E-mail: info@tokenpublishing.com www.tokenpublishing.com
June 2011