Mar 30, 2012 | commentary, dollar, policy
During my perusal of the coin and currency related news on the Internet, I came across a story, “Survey shows dislike of Schweikert’s Coins Act” on the website for the East Valley Tribune, a newspaper based on Tempe, Arizona. The story is about alleged opposition to Rep. David Schweikert (R-AZ) sponsored the COINS Act to transition the one-dollar federal reserve note in favor of a one dollar coin. Schweikert represents Arizona’s 5th District that includes Tempe.
NOTE: The rest of this posting will discuss the survey, its backers, and the politics behind the paper currency versus coin debate. If you are not a fan of the discussion of the nexus between numismatics and politics, you should stop reading here.
The article discusses a survey that was “conducted by the independent public opinion research firm Lincoln Park Strategies”that was paid for by an organization named Americans For George. Lincoln Park Strategies (LPS) was founded by Stefan Hankin who has worked on behalf of “numerous Democratic politicians and organizations, including President Barack Obama and the Democratic National Committee.” Although Hankin has tried to position his company to be non-partisan, his LPS’s portfolio boasts of the firm’s association with many Democrats and left-leaning organizations.
Americans for George claims to be a coalition “of like-minded individuals, businesses, and organizations seeking to ensure that the citizens of the United States maintain the ability to choose their preferred currency.” Their coalition members includes bars, restaurants, vending machine companies, companies that supply vending machine parts, armored car services, a few taxi services, Bingo World in Baltimore, and the Alabama Forestry Association an advocacy group for renewable forest resources in Alabama.
Unless you followed the paper, vending machine, and armored service industries, none of the coalition members are a household name outside of their home towns except one: Crane & Company, the Dalton, Massachusetts company who has the exclusive contract to supply currency paper to the Bureau of Engraving and Printing. Also listed as a coalition member is The Crane Family Council, a group of the extended Crane family that still owns and operates the paper company.
In other words, Americans for George is a front for Crane & Company to promote the business agenda of Crane & Company.
From 2005 through 2011, Crane & Company has paid Russell Wapensky, a lobbyist and former State Department employee, to lobby on their behalf. Wapensky was paid $80,000 by Crane & Company for his services in 2011. Wapensky has not filed disclosure paperwork and an office listed in the last discovered address in Washington, D.C. does not list him as a tenant. Disclosure records shows that for the last three years, Crane & Company was his only lobbying client.
In February 2012, Gephardt Government Affairs filed lobby registration forms (PDF) declaring Crane & Company as their client with the lobbying issue of “preservation of the dollar bill currency.” Gephardt Government Affairs was founded and run by former Rep. Dick Gephardt (D-MO) who served in the House of Representatives from 1977 through 2005. No disclosure regarding how much Crane & Company has paid the Gephardt Group is available since the Lobbying Activity Reports for the first quarter of 2012 are due on April 20.
Dick Gephardt was a mainstay in the House for 28 years having climbed the ranks to become House Majority Leader (1989-1995) and Minority Leader (1995-2003). He ran for president in 2004, losing in the primaries to John Kerry and was mentioned as a potential vice presidential candidate in 2004 and 2008. Gephardt remains well respected by many congressional veterans.
House rules allow members to keep their membership pins when their service ends. These pins allow their owners access to the House floor and other areas where the public is not allowed without escort. Gephardt should know his way around the Capital building. Buying this type of access and potential influence to Capital Hill is not cheap and shows that Crane & Company may be afraid that the political will is there to make a change that would cut a significant portion of their business. Currency paper for the one dollar Federal Reserve Note has to be the least expensive of the papers Crane & Company manufactures for the BEP. It is the only note that does not include features like watermarks or embedded security ribbons that has to make the process more expensive.
Without full disclosures from both Crane & Company and the BEP, it is impossible to determine the exact loss of revenue. The BEP is not required to report what they pay individual vendors and Crane is a privately held corporation, they are not required to file financial disclosure reports. However, we can make assumptions based on information provided by the BEP 2010 CFO Annual Report (PDF), the last available, and other public information.
How much revenue could Crane & Company lose if the the law was changed to eliminate the dollar note? Let’s assume the BEP produces 405 million $1 Federal Reserve Notes (rounded average of the last five years production). Let’s also assume that it costs the BEP $33.48 per one thousand notes to produce Federal Reserve Notes (the 2009 cost adjusted for inflation) of which 55-percent ($18.41) is the cost of the paper (calculated from 1990s information). In order to produce 405 million Federal Reserve Notes, Crane & Company would be paid about $7.45 million to supply the paper—estimating that the potential revenue loss from eliminating the one dollar Federal Reserve Note would range from $7 million to 10 million.
Crane & Company has over 7 million reasons to hire a powerful lobbyist like Dick Gephardt.
As a citizen, numismatist, and blogger, I have made it clear that I am in favor of transitioning from the paper note to the dollar coin. As the process continues, I will watch the public reports by Gephardt Government Affairs and any other information available on Crane & Company’s manipulation using the patriotic sounding front group, Americans for George.
Mar 23, 2012 | news, personal
Please excuse me while I allow my ego to write this post!
If you are subscriber to Numismatic News and received your copy of the March 27, 2012 edition, there is a story with an interesting by-line featured on front page. Yes, this is the article about the 2012 Star-Spangled Banner Commemorative Coin launch that was written by your favorite blog host!
I had a lot of fun covering the launch event. I will be covering other numismatic-related happenings in the Washington, D.C.-area so that I can report about them here on the blog and, hopefully, in a fine publication like Numismatic News.
Mar 22, 2012 | dollar, US Mint
The U.S. Mint announced that they are creating four new numismatic product options for the Presidential $1 Coin program. For collectors, the U.S. Mint is adding a “Four Coin Set” for $9.95, a 100-coin bag for $111.95, 250-coin box for $275.95, and a 500-coin box for $550.95. The bulk options will cotton unmixed coins of each design.
All previous products will remain including the Presidential $1 Coin & First Spouse Medal Set, First Day Coin Covers, along with the proof and uncirculated sets. Also continuing are the coin rolls of the Presidential and Native American dollars.
The Presidential $1 Program continues on April 5 with the release of the coin honoring Chester A. Arthur, our 21st President.
Arthur’s wife, Ellen Lewis Herndon “Nell” Arthur, died from pneumonia in 1880. When Arthur became president after President James A. Garfield died on September 19, 1881 from the assassination attempt on July 2, 1881.
Although Arthur was a widower during his administration, the U.S. Mint will not be issuing an Arthur “Liberty” coin as part of the First Spouse Gold Coin Series. The Presidential $1 Coin Act of 2005 (Public Law 109-145 [Text] [PDF]) requires the U.S. Mint to issue a coin honoring Alice Paul, a leading suffragist who was born on January 11, 1885, during the Arthur administration.
The U.S. Mint has not announced when the Alice Paul Gold Coin will be available.
The public will not be able to order rolls of 2012 $1 coins from the banks since the Federal Reserve will not be taking delivery of new $1 coins. Orders to banks will be filled from existing storage consisting of $1 coins struck from 2007 through 2011. Since the U.S. Mint will be selling $1 coins for $1.11 as part of their bulk sales (bags and boxes), look for these coins to be priced $1.75 to $2.50 from dealers.
Mar 18, 2012 | coin design, coins
What will they think of today’s coins
The “they” I am talking about are the collectors 50 and 100 years from now.
By that time, those of us who remember non-clad coins will be long gone or elderly. But what would our successors in this hobby say about us?
For the last few years, I have been putting together a set of Barber coinage to cover the 20th century. From the Liberty Head Nickel, to the Barber dimes, quarters, and half-dollars, these coins had an interesting sameness whose aesthetic roots appear to be from Victorian culture. Even the dollar designed by George Morgan had a similar look to those Barber coinage.
While there are fans of Charles Barber’s coin design, we tend to concentrate on Theodore Roosevelt’s “pet crime.” Roosevelt was not fond of Barber’s designs. In fact, he called the “atrociously hideous” and “conspired” with Augusts Saint-Gaudens to design coins that would be considered more artistic.
Judging the aesthetics of any coin design is subjective, but a closer and more objective look at Barber’s designs do have a lot of character for the time they were produced at the height of the Victorian era. When TR took office in October 1901, Queen Victoria had passed 9 months earlier and Roosevelt, whose was not a fan of Victorian Era designs, wanted something different.
Barber’s designs appear to be a victim of Roosevelt’s efforts rather than being a sign of its times. It has produced a general opinion that Barber was not a good artist or that his designs were lacking without considering the times in which he worked.
So how will today’s coins be thought of in the future?
The “modern era” of U.S. coinage started with the introduction of clad coins. This marked the end of silver circulating coinage with the exception of the half-dollar, which was silver-clad until 1970. Forty-eight years later, modern coinage does not have the same appeal to many collectors as its silver predecessors mainly because of the impression from older numismatist that these coins are not silver or copper. Some believe that the only excitement generated by clad-coinage in the last half of the 20th century were the bicentennial designs of 1975-1976.
Even though the 50 State Quarter program started in 1999, the 21st century has been the century of the circulating commemoratives. The introduction of the Sacagawea Dollar introduced a new dollar coin in an attempt to “fix” the problems caused by the Susan B. Anthony dollars (too much look a quarter) while new designs representing four states were issued each year. During that program, we were treated to the 2004-2006 Westwood Journey Nickel Program honoring the “Corps of Discovery Expedition” lead by Meriwether Lewis and William Clark to the far reaches of the Louisiana Purchase. There was also the Abraham Lincoln Bicentennial Cent Program honoring the 200th birthday of our 16th president. All have been seen as positive programs.
Then there are what some consider failures, such as the Presidential Dollar and Native American programs. These failures are not because of their designs but because they are based on the one dollar coin that does not circulate in the United States. In fact, most of the presidential portraits are well executed and the reverse designs of the Native American dollars are inspiring. But numismatists, collectors, and the public are more focused on the politics surrounding the use of dollar coins rather than the designs.
Similarly, the National Parks Quarters have not lived up the expectations that it would be as popular as the 50 State Quarters program. Some have even seen the program as jumping the shark on circulating commemoratives, but the designs have been very interesting and even well representative of the site which is being commemorated.
Again, how will today’s coins be thought of in the future?
As new, younger collectors enter the hobby, the stigma of clad versus silver coinage has waned since clad coinage is all these collectors know. They have seen world coins made of base metals dating back to times earlier than the United States change to clad coinage and do not wax nostalgic for “simpler times.” These are their simpler times!
While speaking with some younger collectors, many of whom started collecting state quarters, they like the new programs. State quarters have helped them learn about the states and some have said it helped them learn the history of the United States and its geography. Some like the Presidential Dollars not as circulating coins but as a collectible representing the democratic succession of peaceful leadership represented by the office. And they wish that the National Parks Quarters would see better circulation to add to the history behind the United States coins.
Looking at the short history of 21st century coinage, some might not believe it will be well thought of but the future numismatic leaders are more accepting of these coins meaning the future is bright. Older numismatists may not like what has been happening to U.S. coinage, but years down the road the future for their popularity seems bright, albeit without the values of pre-modern coinage because of the differences in metals used and their ample supply.
Mar 14, 2012 | coins, pocket change
It was just an ordinary trip to run some errands. It was not a special shopping sprees except that it included essentials to get through the next week. After all, it was the weekend and I really wanted a little rest. I was not expecting to find anything remarkable.
In the first store, I was handed three very brilliant Lincoln Cents. I looked at the one on top and it was dated “2011.” Thinking that the establishment must have received a roll of 2011 cents from the bank, I dropped the coins in my pocket and went to my next stop.
After paying for my items at my second stop, I did not look at the coins as I dropped them into my pocket so I can get this trip over with.
One more stop before going to the grocery store. Grab some essentials, something nice for dinner, and then pay for my purchase so I can hurry home to put the perishables away. As I am handed the change, I noticed a very shiny Jefferson nickel. Since it was tails-up, I did not see the date.
That evening, I empty my pocket and place the coins on the top of my dresser. There they stayed until last night when I started to sift through my finds. When I looked at the three brilliant cents, I found the 2011 but the other two were dated 2012, making it the first 2012 coins found in 2012. This is the earliest I have found 2012 coins this early since the start of the current recession.
That shiny Jefferson nickel was dated 2012-D. Not only was it the first 2012 nickel of the year, but it is from Denver. Since the Washington, D.C. area receives its primary deliveries from the Philadelphia Mint, finding a D mintmark was an unexpected pleasure.
Recently, I have been finding quite a few quarters from the 1970s, but this time I found something different: an El Yunque National Forest quarter! While I have been finding quite a few 2010 quarters in change, I cannot recall finding any 2011 quarters and definitely not the latest release.
Also found in the change was a 1995 Canadian Cent, which at the current exchange rate is on par with the U.S. one cent coin.
There are still interesting finds in pocket change!
Mar 9, 2012 | commemorative, news, US Mint
The following is the full version of the article that appeared in Numismatic News.
Eighty-one years (and two days) after President Herbert Hoover signed he law that make “The Star-Spangled Banner” the United State’s official national anthem, the U.S. Mint and Maryland dignitaries came to Fort McHenry to launch the 2012 Star-Spangled Banner Commemorative Coin Program. The commemorative coins are designed to honor the role of the fort in the Battle of Baltimore and Francis Scott Key’s composing the poem after seeing the 15-star and 15-stripe flag still flying after an evening of bombardment by the British Royal Navy.
During the march to Baltimore after the British attack on Washington, D.C., the British took Dr. William Beanes as a prisoner for his role in capturing British stragglers and deserters. Beanes was imprisoned in Baltimore as the Royal Navy gathered forces for their attack on Fort McHenry in Baltimore Harbor.
Word of Beanes’s capture reached Francis Scott Key, an accomplished lawyer, prosecutor, poet, and friend of Dr. Beanes. Key, who was known as a skilled negotiator and a very temperate man, was asked by the Army to accompany prisoner exchange agent Colonel John Stuart Skinner to Baltimore to secure the release of Dr. Beanes. On September 7, 1814, Key and COL Skinner dined with British officers abroad the HMS Tonnant to negotiate the release of prisoners. Although Beanes was released, the British would not let the men leave the ship because they had heard about the British plans to attack Fort McHenry.
That night, Key, Skinner, and Beanes watched as the Royal Navy bombarded the fort and surrounding areas of Baltimore. As the smoke cleared on the morning of September 14, 1814, after 25-hours of bombardment, Key was able to see the U.S. flag still flying over Fort McHenry. Key was so moved by the sight that after returning home, he wrote the poem “The Defence of Fort McHenry.” The poem was published in the Baltimore Patriot on September 20, 1814.
When the poem was published, it was noted that it could be sung to the music of The Anacreontic Song, the official song of the Anacreontic Society. Shortly after publication, the music and words were published together by Thomas Carr and renamed the Star-Spangled Banner.
Tina Orcutt, Superintendent of the Fort McHenry National Memorial & Historic Shrine, led the attendees in the Pledge of Allegiance to open the launch ceremony. After her welcome message, Baltimore’s WBAL reporter Sarah Caldwell took over as master of ceremonies to introduce the dignitaries. Senator Ben Cardin spoke on how he helped push the bill through the senate with the chiding from Rep. C.A. “ Dutch” Ruppersberger who sponsored the original bill. Rep. John Sarbanes, whose district includes Fort McHenry, spoke next and Maryland Governor Martin O’Malley followed. The program concluded with a few words from U.S. Mint Chief Counsel Daniel Shaver to open the sale of the coins.
Waiting in line to purchase the silver proof coin following the ceremony was Melissa, a paramedic from Orlando who was in Baltimore for training. She was with her family visiting Fort McHenry not knowing about the launch ceremony. When asked about the ceremony, she said, “I thought it was very professional. It was awesome. It was moving very moving.” After purchasing the coin Melissa and her family toured the new Visitor Center before visiting the fort.
Richard Hughes came to the ceremony from Annapolis, the state capital for the launch. He was asked about the silver coin he was about to purchase and said, “I like it. It’s provocative. I think they did a good job.” Several people standing nearby in the line agreed.
Also attending was Shaun Butcher who came from Frederick, Maryland “to be one of the first to buy [the coin] when it was released,” noting Frederick was Francis Scott Key’s hometown. “I think the design is unique in terms of highlighting the War of 1812 and the Star Spangled Banner,” Butcher said. “We should be proud a Marylander wrote the National Anthem.”
Butcher is a member of the Frederick Arts Council and is an elected board member of the Frederick Tourism Council. He boasted how Frederick is part of the War of 1812 Bicentennial celebration organized by the state and that Frederick is planning an additional celebration to honor Key’s writing of the poem to take place in September 2014.
The 2012 Star-Spangled Banner Commemorative Coins are available as $5 gold coins and $1 silver. Both can be purchased as uncirculated or proof coins from the U.S. Mint. Surcharges collected from sales of these coins, $35 for the gold coin and $10 for the silver coin, will be paid to the Maryland War of 1812 Bicentennial Commission to support the celebration that will last through 2014.
Image of original manuscript of “The Defence of Fort McHenry” courtesy of Wikimedia.
Mar 8, 2012 | tokens
While watching the Super Tuesday results, numismatists were treated to a new potential collectible: the Idaho Caucus Coin.
The Idaho Caucus Coin, part of a new process this year, was used during the caucus in Boise, Idaho. Caucus goers were given a specially made coin to drop it in a closed canister for the candidate of their choosing. When the voting ended, the coins were “counted” by weighing them. If the caucus judges felt that the weight was wrong, they could request the coins be counted. First they would be counted by machine and, if that was not satisfactory, the coins would be counted by hand. There have been no reports that counting was requested.
During the caucus, if no candidate received more than 50-percent of the coins, those receiving less than 10-percent were dropped from the next round or the candidate with the lowest total would be dropped. This process would continue until one candidate received more 50-percent of the coins.
During a live report on CNN, the reporter showed a specially made coin for the event that was copper in color. Although CNN did not focus on the coin, it looked similar in size to the U.S. One Cent coin. CNN did not comment on the composition or the design of the coin used.
A query has been sent to the Canyon County Republican Party asking about purchasing the coin. This post will be updated when someone provides information.
Image courtesy of Boise State Public Radio.
Mar 5, 2012 | Baltimore, celebration, commemorative, news, US Mint
Today, March 5, 2012, the 2012 Star-Spangled Banner Commemorative Coins will go on sale with a launch ceremony at the the Fort McHenry National Monument and Historic Shrine. Program is scheduled to begin at 11:00 A.M. at the Visitor Center and sales to begin at 11:30 A.M.
According to the media release from Maryland War of 1812 Bicentennial Commission, the group organizing the bicentennial of what historians consider America’s second revolutionary war against the British, “Those who purchase a coin that day will receive a Certificate of Authenticity from the United States Mint and a special acknowledgement from the Maryland War of 1812 Bicentennial Commission.”
In addition to the coin sales, specially made chocolate versions of the coins will be offered by Kirchmayr Chocolatiers, a Baltimore company specializing in fine European chocolate.
If you cannot make it to Baltimore for the launch, fear not! Your intrepid blogger will be making the trip, camera and iPhone in hand. As part of the trip, I will be live tweeting on Twitter from Baltimore. Follow me @coinsblog to read about the ceremony and see some the pictures I take. I plan to shoot video of the ceremony and will post an edited version later this week.
Did You Know?
Fort McHenry was built prior to the War of 1812. The fort is named for
James McHenry, Secretary of War, 1796-1800.
Fort McHenry aerial image and nugget courtesy of the National Park Service.
Mar 4, 2012 | coins, education
Coin collectors love a good story, even if it is not true. New research substantiates some myths and refutes others. Many myths and popular stories include some elements of the truth or historical events. Some are simple historical events, others concoctions to make the inventor seem more important, or to pump up the value of a coin or collection.
This essay will relate a few well known numismatic myths stories and then tell you what really happened. The reality comes from new research in the national archives, museum collections, university archives, Library of Congress and the personal papers of many of the participants. Whether you prefer the “myth” or the “reality,” it is hoped that you will find them both a good story.
Peace Dollar High Relief Story
According to numismatic researcher Walter Breen, writing in his Encyclopedia of U.S. and Colonial Coins, the 1921 high relief design was too high to strike properly. So mint engraver George Morgan took a board and whacked the galvano until it was flatter and lower in relief. Morgan then cut new hubs for the 1922 and subsequent issues. Did this really happen?
Research shows that there was no flattening of the galvano as claimed by Breen because there never was a galvano. Designer Anthony de Francisci supplied his own bronze casts. Two other intermediate relief versions were made in January, 1922. Both were failures. Finally, de Francisci made new, low-relief models for 1922 and trial strikes were made and approved on February 14, 1922.
Peace Dollar Replacement Reverse Story
Another popular story says that in December 1921, just before the first coins were to be struck, Congress objected to a broken sword shown on the reverse. Since there was no time for the designer, Anthony de Francisci, to make new models, Mint engraver George Morgan quickly created a new reverse and used it in place of the original. This saved the project from failure. Did this really happen?
The design competition called for one obverse design and two reverse design. De Francisci submitted two reverse designs to the Commission of Fine arts on December 10, 1921. One design resembled the eventual design. De Francisci modified this reverse design using suggestions from James Fraser. This included a broken sword held by the eagle. The design was approved by the Mint director, Assistant Treasury Secretary, the Secretary of the Treasury, and President Warren G. Harding. A bronze cast was made of this design and sent to the Philadelphia Mint where engraver George Morgan cut a hub in preparation for striking coins.
In announcing the new coin, a Treasury Department press release mentioned a “broken sword” was part of the design on the reverse of the new coin. This was noted by the New York Herald in a scathing editorial. Subsequently, cards, letters, telegrams, and phone calls objecting to the broken sword swamped the Mint, Treasury, congress, and White House. Fraser and CFA chairman Moore suggested that the sword be cut out of the steel hub. Mint director Baker was on his way to San Francisco, so assistant secretary Malburn and acting director O’Reilley gave instructions for Morgan to do the work.
Beginning early on December 23, Morgan, accompanied by de Francisci, began removing the sword from the hub. He also had to work on the master die to compete the removal. Morgan added an olive branch and made other changes. No public mention was made of Morgan’s work. Treasury simply told the public that the sword was in one version but not the version that was used. Morgan saved the Peace dollar from failure.
Buffalo Nickel
A persistent Buffalo tale is that in preparing the hubs and dies, engraver Charles Barber eliminated most of the field texture contrary to designer James Fraser’s wishes. Another is that Barber also made the bison on plain version without the sculptor’s approval. Fraser was very upset about the way his design had been treated. Is this true?
According to Fraser’s written comments:
I find the engraving which was necessary to make the two sides of the coin fit exactly, the reduction of the edge and the simplifying of the background under the Buffalo’s head is beautifully done, showing no difference between the surface which I put on the models and the one they have made. I am delighted with their work at the Mint.
(Fraser—January 26, 1913)
Your letter of April 22nd last [sic—April 23rd] together with enclosure reached me in due course, and it seems to me that the nickel enclosed with the “Five Cents” made clearer is good and does not at all interfere with general design.
(Fraser—April 23, 1913)
Saint-Gaudens Double Eagle
One of the most popular and attractive coins ever issued by any country. As would be expected from a coin created through the cooperation of President Teddy Roosevelt and sculptor Augustus Saints-Gaudens, there are many interesting stories about the people involved. One story goes that Mint engraver Charles Barber, who harbored an intense dislike for Saint-Gaudens, was unable to make low relief dies from Saint-Gaudens’ models in late 1907. In another story, to get the coins into normal production Barber made new models copying Saint-Gaudens’ design but introducing his own variations, including changing the date to European digits, that damaged the artistic quality of the coin.
Saint-Gaudens provided the first two plaster models. The first model was delivered in December 1906. The second was the Very High Relief model that was used to make the high relief MCMVII pieces. Henry Hering submitted a third, lower relief model with European date as agreed in May. The relief on the third model was too high to coin with the Mint’s production equipment. Using the Janvier lathe caused too much detail to be lost in the reduction making the design dull and washed out. To get the coins into production as Roosevelt wanted, Barber recut detail into the hub by hand. Result was the 1907 production coin.
Henry Hering, who was Saint-Gaudens’ principal assistant for the coin design project, says that he anticipated problems with the mint over the relief of the coins, and had reductions made of Saint-Gaudens designs in Paris. These were in several different reliefs. Although the mint eventually turned out acceptable low relief coins, the officials refused to pay Mrs. Saint-Gaudens for her late husband’s work. Henry Hering claimed in his 1947 article in the Numismatist that the quality of reductions for the reverse of the $10 coin was an issue. Hering claimed the Mint refused to pay Augusta until he proved the Mint’s reductions were inferior by comparing them with ones he had ordered from Paris.
Well, not really…
Negotiations between the mint and Saint-Gaudens’ Estate were handled by Charles Brewster, Augusta’s attorney. They finally settled on a payment of $6,000. Plus Augusta was sold one of the two Extremely High Relief (EHR) pattern pieces from the Mint collection for $20 plus postage. By November 1907, Hering was superfluous and more of a nuisance than anything else. He had no role in helping Augusta get the money the mint owed her.
Adapted from the presentation “Myths and Tall Tales” by Roger Burdette given to the Montgomery County Coin Club on March 13, 2007.
All images courtesy of The Coin Page.
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