Chicago Coin Club Chatter: 2012

2012·9.9 MB·English

by  Chicago Coin Club

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 [phone]
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
[phone] • 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: