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Chicago Coin Club Chatter January, 2012 Chatter Archive available at http://www.ChicagoCoinClub.org/ Volume 58 No. 1 January 2012 Minutes of the 1116th Meeting The 1116th meeting of the Chicago Coin Club was held December 10, 2011 at Marcello’s Restaurant, 645 W. North Avenue. Following a cocktail hour that began at 6 PM, President Jeffrey Rosinia called the meeting to order at 7:40 PM with 37 members and guests present. Richard Hamilton delivered the invocation. As this was the Annual Banquet, a motion was passed to adopt an abbreviated agenda. After a second reading of the applications for Bruce Purdue and Eric Helms, a motion was passed to accept them into membership. Robert Leonard distributed unique elongated coins to Committee Chairs from the past ANA Convention created by John Wilson. Second V.P. Elliott Krieter introduced the evening’s speaker Mike Gasvoda who delivered a program on The Hunt Brothers Incredible Ancient Coin Collection. Following a question and answer period, Elliott presented Gasvoda with an engraved club medal and an ANA Educational Certificate. As it was Mike’s birthday, he was presented with a piece of cake with a candle while members sang Happy Birthday. Elliott Krieter spoke of the numismatic education shared through exhibiting at monthly meetings and the creation of the Cabeen Award to acknowledge top exhibitors. Before the award presentation, Elliott announced there was only a 0.02 difference between the two top places. Engraved medals were then presented to First Place: Mark Wieclaw (not present); Second Place: Robert Weinstein; and Honorable Mention: William Burd (not present), Robert Feiler, Robert Leonard, Richard Lipman, Dale Lukanich (not present) and Steve Zitowsky (not present). After the meeting was adjourned at 8:24 PM, President Rosinia delivered a trumpet serenade of several holiday songs. Respectfully Submitted, Carl Wolf, Secretary Important Dates Jan 11 CCC Meeting - Featured Speaker - to be announced Feb 8 CCC Meeting - Featured Speaker - to be announced March 9-11 17th Annual Chicago Paper Money Expo (CPMX) at the Crown Plaza Chicago O’Hare, 5440 North River Road, Rosemont, IL. Admission is $5 for Friday and Saturday; free on Sunday. March 10 CCC Meeting - 1 pm at the Chicago Paper Money Expo, which is held at the Crown Plaza Chicago O’Hare, 5440 North River Road, Rosemont, IL. No admission charge for our meeting. Featured Speaker - to be announced March 14 CCC Meeting - Featured Speaker - to be announced April 11 CCC Meeting - Featured Speaker - to be announced April 19-21 73 rd Anniversary Convention of the Central States Numismatic Society at the Schaumburg Renaissance Hotel & Convention Center, 1551 North Thoreau Drive, Schaumburg, IL. For details, refer to their website, http://www.centralstates.info /conv.html April 21 CCC Meeting - 1 pm at the CSNS Convention, which is held at the Schaumburg Convention Center. No admission charge for our meeting, in Room 42. Featured Speaker - to be announced April 27-29 36th annual Chicago International Coin Fair (CICF) at the Crown Plaza Chicago O’Hare, 5440 North River Road, Rosemont, IL. Admission is $5 for Friday and Saturday; free on Sunday. April 28 CCC Meeting - 1pm at the Chicago International Coin Fair (CICF), which is held at the Crown Plaza Chicago O’Hare, 5440 North River Road, Rosemont, IL. No admission charge for our meeting. Featured Speaker - to be announced May 9 CCC Meeting - Featured Speaker - to be announced Central States s Numismatic Society 73rd Anniversary Convention Schaumburg, IL Schaumburg Renaissance Hotel & Convention Center April 18-21,2012 Chicago, a (PNG Day by Written Invitation Only Wednesday, April 18) Central States • Educational Exhibits City • 250 Booth Bourse Area • Heritage Coin Signature Sale • Heritage Currency Signature Sale • Educational Programs • Club and Society Meetings • Free Hotel Guest and Visitor Parking • Free Public Admission Hotel Reservations: Airfare Discount: Schaumburg Renaissance Hotel For American Airlines Discount 1551 North Thoreau Drive. Book at www.aa.com Call (847) 303-4100 Use Authorization Number Mention Rate Code “CSNCSNA” “7242AX” for a 5% Discount for special $ 139 rate. Free Hotel Guest and Visitor Parking. Visit our website: www.centralstates.info Bourse Information: Jerry Lebo (574) 753-2489 • jclebo(gfrontier.com CHICAGO COIN COMPANY, INC. 6455 W. Archer Ave. Chicago, IL 60638 773 586-7666 - vvww.cliicagocoin.coni We have an extensive numismatic library containing over 12,000 items including books, catalogs, periodicals and pamphlets. Our library is not open to the public but is available to serious researchers looking for comprehensive information as well as to the casual collector who may want to obtain information on an elusive coin. Simply stop in or call for an appointment. RECENT ACQUISITIONS ~Dickeson, Montroville Wilson - The American Numismatic Manual of the Currency or Money of the Aborigines, Colonial, State and United States Coins, 1865, Philadelphia, Third and best edition, with original covers and scarce as such ~Dickeson, Montroville Wilson - Dickeson's Numismatic Manual Plates, 1880, Scott & Company. A rare production utilizing plates originally produced for Dickeson's Numismatic Manual ~Gilbert, James Henry-Trade and Currency in Early Oregon, 1907, Columbia University, rare ~King, Robert P. - Lincoln in Numismatics, 1966, Token and Medal Society, reprinted from the Numismatist 1924,1927,1933 ~Zabriskie, Andrew C. - A Descriptive Catalogue of the Political and Memorial Medals Struck in Honor of Abraham Lincoln, 1873, New York, #49 of 75 copies printed ~Schuckers, Jacob William - A Brief Account of the Finances and Paper Money of the Revolutionary War first edition, 1874, Philadelphia, rare ~Young, James Rankin - United States Mint at Philadelphia 1903, Philadelphia, a look at the new 3'^'* Philadelphia Mint with photos, rare. ~Meyer, Greg - The Republic One Centavio, 2010, San Antonio, TX ~Szperling, Severin & Julie Szperling - A Catalog of Holocaust Medals A History Etched in Metal, 2010, Tucson, AZ 2012 Chicago International Coin Fair April 26-29, 2012 Crowne Plaza Chicago O’Hare For more information 800-573-0333 • www.cicfshow.com [email protected] 2012 Chicago Paper Money Expo March 8-11, 2012 Crowne Plaza Chicago O’Hare For more information 800-573-0333 • www.cpmxshow.com [email protected] I- BerJc ^ Just like Cheers, but Numismatic! Visit us at 31 N. Clark Monday through Friday 9:00 a.m. to 4:45 p.m. Or call us: 312-609-0016 On the web at HJBLTD.com We sell good stuff, just ask Wieclaw! The Loop's oldest and largest coin store Speaker's Wor[l]d The Hunt Brothers’ Incredible Ancient Coin Collection by Mike Gasvoda presented to our December 10, 2011 meeting Tlie Hunt brothers’ coin collection was built over an incredibly short period of just three years. During that time they amassed one of the fmestancient coin collections ever to appear at auction. The sale included many great rarities and many of these coins were of the highest quality. Tlie collection was born out of a chance meeting between Bruce McNall, owner of Numismatic Fine Arts (NFA), a rare coin and antiquities firm located on Rodeo Drive in Beverly Hills, CA, and Bunker Hunt. Tlie meeting took place in the summer of 1979 at Santa Anita Racetrack after a thoroughbred of Bruce’s had won a stakes race. Bunker, a serious horse man and breeder, came down to meet the owner of this horse. A long talk ensued and eventually turned to investments and how to protect assets against the high inflation happening at the time. Bruce suggested that ancient coins were seriously undervalued and Bunker could take a position in them fairly easily. During that conversation Bruce suggested Bunker attend the upcoming auction in Zurich held by Bank Leu. Surprisingly, just as the auction started, in walked Bunker Hunt and he spent $500,000 via Bruce McNall at that sale. A great collection had just been born. Bruce next took Herbert Hunt to Zurich and introduced him to Byzantine numismatics via the offices of Leo Mildenberg at Leu. Herbert bought the entire offering and set out to buy every Byzantine coin he could find. He wasn’t just taking a position, he wanted to own all the Byzantine coins in existence. NFA was buying heavily for both brothers and with a large checkbook coins of great quality and rarity seemed to come out of the woodwork. Two transactions are noteworthy however. Tlie first involved the purchase of the Sy Weintraub collection, also assembled by Bruce McNall. Bunker paid $ 16,000,000 for the collection and in the process gained ownership of some of the best coins in his collection including an Athenian decadrachm and a decadrachm from Akragas. Tlie second major transaction was a trade for silver between Bruce and Bunker. Tliought to be about $20,000,000 in total this caused the last great buying spree on behalf of the Hunt brothers. This transaction took place after the fall of silver from its 1980 high of $50.00 per ounce. Sadly the Hunt brothers were forced into bankruptcy and purchases for their collection ended in the early 1980s. The court ordered the collection sold via auction and Sotheby’s handled the sale through eight beautifully designed catalogs in 1990 and 1991. The high profile coins came in the early sales while the more common coins went into the later sales. Sadly, for the Hunts, or maybe more correctly for their creditors, the sales occurred during a low time for numismatics and there simply weren’t enough investor/collectors for the coins to realize high prices. But in today’s market, when Hunt high profile coins come up for sale they do get strong bids.Bunker’s EID MAR denarius recently sold for $546,000 in a Heritage sale even though the coin was only graded VF. Tlie collection included almost every great rarity in ancient numismatics and it was assembled in just under three years. A large checkbook can make those coins available. It happened then and it still happens today. Our 1117th Meeting Date: January 11,2012 Time: 6:45 PM Location: Downtown Chicago At the Chicago Bar Association, 321 S. Plymouth Court, 3rd floor meeting room. Please remember the security measures at our meeting building: everyone must show their photo-ID and register at the guard's desk. Nearby parking: South Loop Self Parking Ramp at Van Buren & Federal Streets; that is two short blocks west of our meeting site. Note: Their typical rate of $29 is reduced to $6 if you eat at the Plymouth Restaurant, 327 S. Plymouth Court (next to our meeting site at the CBA), show them your parking ticket, and ask the restaurant for a parking voucher. The restaurant offers standard sandwiches, burgers, and salads for members who want to meet for dinner. Featured - to be announced speaker:

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