The latest Coin World weekly issue, dated Oct. 23, 2017, is
out the door, and we present exclusive previews of a few articles, to
be found also in your latest digital edition of
Taking a ‘worthless’ note and making it worth something
It was not uncommon for 19th century banks to make it difficult for
a holder of one of their notes to redeem them in coinage, including
making the notes payable only at a distant location. In his
“Collecting Paper” column, Wendell Wolka writes how one person took
advantage of that practice while committing a crime.
Wolka writes about a note of the Jersey Bank of Jersey City, New
Jersey, that was payable only in a far-off city in New York. When the
bank failed soon after it opened, someone obtained the bank’s
now-worthless notes at a discount and through some careful erasure of
selected inscriptions in ink, made the notes look like they were
issued by a bank that was still in business.
What should be done with deliberate ‘errors’?
Some “error” coins of the U.S. Mint were not produced by mistake but
were instead created deliberately, though without official sanction
and then smuggled out of the Mint. Some of these pieces enter the coin
collecting marketplace, where they are avidly collected by some collectors.
Recently, several 1970s Proof coins have been revealed to have been
struck on aluminum tokens issued by the Shell Oil company, something
that is unlikely to have occurred accidentally. This week’s Editorial
asks whether pieces of this nature should "be considered
legitimate and collectible, or should be subject to confiscation? Tell
us what you think.”
Weapons are common design elements on early notes
John Kraljevich Jr. writes in his “Colonial America” column,
firearms played a significant role in that era and, “As might be
expected, the common weapons of the era nearly all make an appearance
or two on 18th century American paper money. But despite their
omnipresence in rural and small time life, firearms are fairly unusual.”
So what weapons are often found on Colonial notes? Think of weapons
that are pointy and have sharp edges, rather than those throwing balls
The search begins, as hopeful callers say, ‘I’ve got one’
A search got underway in 1993 for the missing example of the 1913
Liberty Head 5-cent coin, a piece that had not been seen by collectors
or dealers for decades. As news spread, spurred by a $10,000 reward
for discovery of the coin, hundreds came forward to say they had it,
or knew where it had once been.
As Beth Deisher writes in her “From the Memory Bank” column, the
search brought forth a number of altered-date pieces of varying
quality, with many of their owners contacting Coin World. “A
curiosity relating to the altered dates we saw was that they appeared
to have been made many years prior to 1993,” most likely in response
to an earlier “search.”
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