Weekly World Numismatic News for November 1, 2020
Here we are with the election on Tuesday. The numismatic-related news has some stories but nothing of significance. For bullion buyers, the metals market has been active. One analyst called the market schizophrenic while trying to figure out what economic conditions will be.
Another analyst that follows the silver market noted the decline of silver prices since September. Among the reasons is that early buyers of silver are looking to cash in on their holdings. Those who bought last year when the average price was around $18 per ozt have been looking to profit from the spot being over $22. When asked if the price of silver will decline, the response was to ask after the election.
- 60 Day Gold Chart ending 01-Nov-2020 — courtesy of Kitco
- 60 Day Silver Chart ending 01-Nov-2020 — courtesy of Kitco
Gold prices have been steadier but have shown a gradual decline since August. A gold analyst reminded me that gold is a safe haven for investors when markets are uncertain. This analyst did not think the markets will see certainty after the election. Their firm is telling clients that regardless of the outcome of the election, the lame-duck Congress will create a lot of infighting that will spill over into the markets.
The value of many modern collector coins is dependent on the value of the metals. Those coins will see their values fluctuate with the market. Unfortunately, none of the analysts consulted predicted stability in the market. They suggested that unless you had to sell that you might wait. One recommended setting a high and low price for buying and selling but would not recommend the spread.
Regardless of what you choose to do with your investment coin, be prepared for a bumpy ride because none of the analysts would predict any stability for the next six months.
And now the news…
→ Read more at lifeinnorway.net
→ Read more at wbtv.com
→ Read more at bbc.com
→ Read more at jpost.com
→ Read more at au.finance.yahoo.com
Time to renew my ANA Membership and talk about its future
On Friday, I received a notice to renew my American Numismatic Association membership by the end of this month. Even though a few people wrote to me after the election saying that they would not renew their membership, I believe that the ANA is still a good organization worth of the support of every numismatist regardless of age, experience, and collecting interest. My only question is whether to change to the basic level to save trees.
Members renewing at the Basic level can read The Numismatist online or via my computer or the iPad app. I stopped using the iPad app for a while after having problems. The app was updated and seems to be working fine now. I think I would prefer to read it on my iPad than the paper version. It is more portable. However, if the program could be converted to work with Apple’s Newsstand, the ANA may be able to find a new revenue stream by selling individual issues.
After the election I received a lot of complaints about the the ANA and how it operates. In many cases, I agree with the assessments but I also see where there are changes coming and all of the changes are for the better!
First and foremost, the ANA is being dragged into the technology of the 21st century. In a move started by former Executive Director Jeff Shevlin, the ANA has engaged Amos Digita, the technology arm of Amos Press, the publisher of Coin World. Anyone who has seen the positive evolution of the Coin World website and has read Coin World Next online can see examples of their work. Working with Amos Digital is a very positive step for the ANA.
Between Amos Digital, the commitment of the ANA staff involved, and the Technology Committee (which I am a member) the future to better the ANA’s technology is looking very good!
Technology alone is not going to make the ANA a better organization but the technology will provide a platform to make the ANA more responsive to its members. Technology can help with virtual clubs, education, and to bring the information out to the members. Technology can enhance shows and deliver some of the content to the members who may not be able to attend the shows.
However, technology is only an enhancer—a tool to make the ANA better for you. The problem is that those of us who are putting the tool together may not know what will make the ANA a better organization for you. What do you want to see from the ANA? How can the technology be used to make your experiences better?
Although I have some ideas, I am a systems guy. I put together systems to do what my customers want. And even though I know what I want as a member, it is only my opinion.
As a member of the ANA Technology Committee I want your opinion. What do you want from this tool? How can the ANA use these tools to make your experience as a member the ANA better? I am handing you a blank sheet of virtual paper (the comment section, below). Let me and my fellow Tech Committee members know how we can use this tool to better serve the membership.
Medal image courtesy of Wikipedia.
Return of the Poll: What’s on your desk?
I read articles that say if you’re not a collector you’re an accumulator. But it is not that simple. Sometimes I over buy just to get one specific item. For example, the lot of Canadian dimes I found on my desk were purchased because I wanted one of the dimes for my collection. I will probably resell the rest of the dimes, but in the mean time they are on my desk.
Other items are souvenirs like the faux million-dollar bill and the package of shredded currency. While I may not have an attachment to them, they are not salable and I just do not want to throw them away. Maybe I’ll create an auction lot of this stuff to see if someone else wants it but it is still here, too.
What about you? Do you buy extra items and think you’ll resell them later? What about those souvenirs? How many of you have cheap items that you know you cannot resell or even give away? Take the poll. Comments are always welcome!
What kind of "extra items" are in your collection?
Total Voters: 8
Lew gives us some Lewpts
In one of those news items from while I was away, Secretary of the Treasury Jacob J. “Jack” Lew put pen to official paper and provided an autograph that will appear on United States Federal Reserve Note. Treasury reports that Lew’s signature will first appear on Series 2013 five-dollar notes that will be issued this fall. No plans were announced for other denominations.
Lew, whose autograph has been called “lewpty” and been compared to the decorative icing on a Hostess cupcake, made a promise to the president that he would do better with his penmanship. During his confirmation hearing, Lew told Sen. Max Baucus (D-MT), Chairman of the Senate Finance Committee, that he promised the president he would do better. This did not satisfy those with an ironic sense for the different when a petition appeared on the White House website to “Save the Lewpty-Lew.”

Mock-up of how Treasury Secretary Jack Lew’s autograph will appear on the Series 2013 $5 Federal Reserve Note in the Fall.
Remember as you were growing up spending time with a piece of paper practicing your signature? I wonder if Lew was doing this in his spare time?
While Lew’s autograph lost many of his infamous lewpts at least he did not go to the extreme that of predecessor, Tim Geithner. Geithner’s autograph was very readable and lacked character. At least Lew kept some of his lewpts. It will make for interesting conversations for currency collectors in the future as they examine the autographs on their collectibles.
Images courtesy of the U.S. Department of the Treasury.
Desktop Finds
Amongst my activities for the last month has been cleaning off the top of my desk. While for some this may be an easy project, for me it is a major proposition. One of the reasons is that the way I work can be best classified as “organized chaos.” Organized chaos builds piles of like items until there is no room. Rather than clean up the piles, priority items are reordered and piled on top of items that may not be needed until later. This keeps going until the desktop becomes unorganized as the piles get shifted looking for something that became buried. At some point the organization goes away and all that is left is the chaos. Finally, the day comes when a critical item can no longer be found.
I have had people tell me that the best way to keep my organization under control is to deal with the item right away. For some reason, I get attached to ideas, concepts, and the objects that are associated with them. Everything gets saved until I do something with them or I am faced with the difficult decisions to make it a priority when I finally dig out of the chaos.
But the digging can be fun because at the bottom of the pile, when the top of the desk is finally rediscovered, are the small items that are the most fun. In my case, there are a lot of coins, medals, tokens, and other items that I thought would be cool or nice to resell. Just to have a little fun, I gathered up some of the numismatic trinkets and decided to share it with my readers.
It looks like an eclectic little lot of stuff. I have a million dollar bill (talk about inflation money) sitting on top of a package of shredded currency that says has about $10 of chopped up notes, some Canadian money, and older U.S. coins. Those coins with the little numbered stickers were purchased at my coin club’s auction. There is a lot of five Canadian dimes, a copper 2-cent piece, and a nickel 3-cent coin.
But some of these coins are a bit interesting. Let’s look at this encased steel cent. Up until I bought this coin from noted error dealer Fred Weinberg through eBay I had never seen an encased steel cent. The aluminum ring says “Wear the John C. Roberts Shoe” around the top and “For Particular Men” on the bottom. The reverse has the address of a store in Chicago, Illinois.John C. Roberts was one of the founders of the Roberts, Johnson & Rand Shoe Company of St. Louis in 1898 as a wholesaler. The other founders were Jack Johnson, Oscar Johnson, and Edgar E. Rand. They were a competitor to Peters Shoe Company that was founded in 1836 but organized into a formal corporation under Missouri law in 1891 by Henry W. Peters. The Peters Shoe Company was a manufacturer and wholesaler.
Although these two companies were competitors, their policies, ideals. and business standards were so closely aligned that they were drawn together by a mutual respect. The companies merged in 1911 and changed their name to the International Shoe Company. The next year, in 1912, the International Shoe Company purchased Friedman-Shelby Shoe Company, another St. Louis-based shoe manufacturer. In 1921, International Shoe Company was incorporated in Delaware.
International Shoe Company was once the world’s largest manufacturer of shoes with Red Goose shoes being its flagship brand. At one time, International Shoe Company owned Florsheim and Savage Shoes, Canada’s largest shoemaker. In 1966 the company changed its name to Interco and tried to become a conglomerate in apparel, footwear, and retailing. The company’s troubles began as it branched into furniture by buying Ethan Allen and Broyhill Furniture in 1980 as the furniture manufacturing was declining in the United States.
Eventually, Interco filed for Chapter 11 bankruptcy in 1991 and sold off all of its operations except for Broyhill, Lane, Converse (which it bought in 1986), and Florsheim. By 1994, the company sold Converse and Florsheim to exit the shoe business. The company was rebranded as Furniture Brands International 1996 after buying Thomasville Furniture. Now they only manufacture and sell furniture leaving collectors with these encased coins to raise our curiosity.
- Obverse of Montgomery County Coin Club medal with standard logo that was gold plated for the 50th Anniversary.
- Reverse of the Montgomery County Coin Club medal with the special sticker commemorating the club’s 50th anniversary in 2009.
My next interesting find was my “gold” medal commemorating the 50th anniversary of the Montgomery County Coin Club in 2009. As president of the Montgomery County Coin Club, it was my job to help lead a celebration honoring our 50th anniversary. Since I was not a member for as long as others, I leaned heavily on longer tenured members for assistance. I believe the celebration went well.
To commemorate the occasion, we wanted a special medal but we did not want to spend a lot of money. Rather than buy new medals, we dipped into our ample supply of pewter medals and had them gold plated. On the back, I created a “50” logo that was similar to our regular logo that uses the reverse of the Maryland Tercentenary half-dollar but uses the reverse of the Lincoln Memorial cent that was released in 1959. That logo was added to a sticker and numbered. The club as #1 as a souvenir. Since I was the president, I was able to get #2. I just wish I made the background of that sticker a bit lighter.
Sometimes there is just some loose stuff on the desk including a Canadian dollar commemorating the 100th anniversary of the Montreal Canadiens (they are a professional hockey team for those who do not follow hockey), a token from the Triborough Bridge and Tunnel Authority (TBTA) in New York City, a small set of Canadian dimes, and a Keith Hernandez “coin” from a 7-Eleven promotion in the mid-1980s. Hernandez was the Mets’ star first baseman when they won the 1986 World Series. Yes, I know he played for St. Louis before being traded to the Mets, but that is inconsequential to my collecting interests!The TBTA token is interesting because it is smaller than the ones I used to use because it is for other tolls than the East River bridges. This token was primarily used on the Henry Hudson and the Marine Parkway (now Marine Parkway-Gil Hodges Memorial) Bridges where the tolls were cheaper. The larger tokens were used on the Triborough Bridge, Verrazono-Narrows Bridge, the Queens Midtown Tunnel, and other nearby crossings.
Tokens are no longer accepted at the TBTA crossing and they stopped issuing special Staten Island resident tokens for the Verrazano Bridge in 1998 with the introduction of EZ-Pass. I should try to find a Staten Island resident token for my collection.
Finally, something that was purchased relatively recently but made it to the bottom of the pile are two coins I bought to start my one-page collection of 2-, 3-, and 5-cent coins. The week after writing about this in a blog post, the coins were available in my coin club’s monthly auction. Since I plan to put the set together, I bought these 1865 2-cent and 3-cent nickel coins to begin the question. But like a number of items that ended up buried on the surface of the desk, this is where that stopped. Now that I found the coins, I am going to make note of where I am in this collection and bring the list to the World’s Fair of Money in August to see if I can fill in the holes. In fact, I will probably work on completing my one-page cent collection, too. It’s not like I will have anything else to do!There is more but if I do not stop now I am not going to be able to finish my cleaning!
ANA Announces the 2013-15 Board of Governors
A short time ago, the American Numismatic Association announced who will serve the association on the 2013-2015 Board of Governors. Current ANA President Tom Hallenbeck announced the following:
Vice-President: Jeff Garrett (unopposed)
Governors:
Scott T. Rottinghaus (2,859)
Dr. Ralph W. Ross (2,797)
Mike Ellis (2,782)
Greg Lyon (2,723)
Jeff Swindling (2,591)
Laura Sperber (2,569)
William D. Hyder (2,095)
Oded Paz (1,916)
Scott Barman (1,891)
Steve D’Ippolito (1,862)
Jeff Wuller (1,786)
Richard Jozefiak (1,543)
To everyone that supported my candidacy I want to give you a heartfelt THANK YOU. While I did not win this election, I will continue to work for the ANA to bring it technologically into the 21st century.
Congratulations to the 2013-2015 ANA Board of Governors.
Video of the announcement:









