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JYZJYcA JY£W>$ © VOL 59 Winter 2005 NO. 1 NENA.il The President's Comments by William Stone Let the Buyer Beware! by Jan M. Dyroff Medal Design Contest finother Great Wonderful Resource Book review by Jan M. Dyroff 61st Annual Conference Information NENA News 1 NORTHEAST NUMISMATICS, INC. ACTIVE BUYER AND SELLER OF ALL BETTER UNITED STATES COINS Collectors, Dealers and Investors have been dealing with Northeast Numismatics, Inc. for the past 40 years we have been in business. If you are buying, we have an inventory of over 2,000 NGC, PCGS and ANACS coins that change daily. For a free list and to receive a periodic listing of our current inventory, we request your address or fax number. We also service want lists on an aggressive basis. Visit us at www.northeastcoin.com. We update daily! If you are selling, we would like to be given the opportunity to purchase your material. It does not need to be certified. Single coins or complete collections, we will buy it all! With a high percentage of our business being with other dealers, doesn’t it make sense to deal with Northeast Numismatics, Inc. directly? We invite you to see us at major shows, call, fax or write us today. Authorized dealer in all major grading services. 10 Concord Crossing, Suite 220 Concord, MA 01742 1-800-449-2646 978-369-9155 978-369-9619 (Fax) Thomas [email protected] Caldwell www.northeastcoin.com ANA LM 2 Nena News #1318 BOARD OF DIRECTORS OF THE NEW ENGLAND NUMISMATIC ASSOCIATION PRESIDENT William Stone P. O. Box 920586 Needham, MA 02492-0007 email: NENAOrg.aol.com VICE PRESIDENT Robert Hewey P. O. Box 920586 Needham, MA 02492-0007 TREASURER Robert S. Anderson P. O. Box 920586 Needham, MA 02492-0007 DIRECTOR EMERITUS John Kittredge DIRECTORS George Bilodeau Joe Duval Mike Moylan Ernie Botte John Kiley STATE DIRECTORS Connecticut Frank Hoerzer Maine Currently Vacant Massachusetts Jack Haroian New Hampshire Robert F. Fritsch Rhode Island Richard Lavimodiere Vermont Currently Vacant NENA NEWS EDITOR Joe Duval P. O. Box 28 Willimantic, CT 06226-0028 email: [email protected] MEMBERSHIP Robert S. Anderson P. O. Box 920586 Needham, MA 02492-0007 YN ACTIVITIES Larry Gentile Jack Haroian MEDALS COORDINATOR Robert S. Anderson EXHIBITS COORDINATOR Frank Hoerzer HISTORIAN Jan Dyroff The NENA NEWS is the official publication of the New England Numismatic Associa¬ tion (NENA). It is published quarterly and mailed to all members of the association in good standing. For information about NENA or this publication, write to: NENA NEWS, P. O. BOX 920586, Needham, MA 02192-0007 NENA News 3 PRESIDENT'S COMMENTS by William Stone T he Officers and Board currently looking at the members of NENA want possible choices for another to take this opportunity two day seminar, and hope that to wish each of you a happy you will consider attending this new year, and hope your class. By all accounts the last numismatic hobby will again be one not only was well attended an enjoyable endeavor during but much positive feedback the upcoming year. was received. So for our recent With the successful (major) step into providing annual NENA meeting in useful education and training October 2004, this association for our members was a real and held a ANA two day grading positive move. We will keep seminar for mint state coins. you informed on what class This was a well received and may be offered and hope that attended course held at the you will sign up early so proper Wayfarer Inn in the days planning can be arranged for preceding the EBWcoin show getting the necessary and our annual meeting on instructors and class room Saturday afternoon. The material can be obtained. And Officers and Directors are who would not want to spend a looking into holding another few extra days in the fall in ANA seminar prior to this New Hampshire? year’s coin show and NENA Keep your eyes open annual meeting. We are for the next NENA News for 4 Nena News additional information on this please mail us a letter or go educational opportunity. online and drop us a line at: NENA is also looking [email protected]. for your suggestions on the The scheduled meetings of the 2005 NENA metal to be issued officers and directors are held in for the Annual meeting in New Auburn MA. on selected Hampshire. Please read the Saturday’s at 10:00 and are article on details and timing of limited to a maximum of two your submission. This is a hours in length. TIME sensitive action, so we Looking forward to can get the engraving done: and seeing more faces, members and as usual get your order in early prospective (new) members at as no one wants to be left out in the next annual meeting in getting these sets. October 2005. We are also as you will see, looking for Directors for Sincerely, the states of Maine and 7 ( illiom Stone, Vermont. Anyone interested William Stone, President Look This is the Place for COIN & PAPER MONEY COLLECTORS in the Northeast to get a jump on the Convention Season. Join us again this year for the largest gathering of Coin & Paper Money Dealers and Collectors in the New York/New England Area. Bourse info: [email protected],Fax 429-0043 75 32nd Annual Show 75 <- -» TABLES The "Biggest" little Bourse & Exhibition coin and paper Public Invited money show in Free Admission New England m am Prospect Street School Gymnasium _ _ [ k 233 Prospect St., at corner of High St. f k ■ SJ Willimantic, Conn. f \J TABLES Sun., April 3, 2005, 9 a.m.-4 p.m. TABLES <- NENA News 5 Let the Buyer Beware! Let the Buyer Rejoice! by Jan M. Dyroff W ith the promise of or vest pocket dealers, have more clement particular areas of information weather in the and expertise; however, once offing, it will soon be time again they pass beyond the borders of for open flea markets and yard their own part of the or estate sales, many of which numismatic world, things can appear to have opportunities for get shaky. coin collectors. Those little trays Now, on the plus side, or bins of miscellaneous dealers in Canadian or numismatic items are always American coins tend to be fun to look through, and pretty sharp in the issues of sometimes, though not their country of interest. They, increasingly of late, you can and the buyer, share in the same find a “treasure.” But, and resources. The reference books here’s the important point, you are standard. Systems of have to know what you’re grading are clearly established looking at. and well understood. Current As apart from the pricing is readily available. But informal atmosphere of the front this expertise can drop off lawn, there is a more structured quickly, for example, once a realm of numismatic Canadian dealer gets outside of merchandising, which exists Canadian coins or an American somewhere between the yard beyond the issues of the United sale and the major dealer. For a States. variety of reasons, you cannot As a consideration, let always rely on all sellers for us shift our attention to such absolutely accurate information areas as world coins, paper regarding an item. Many small, money and medals, or to Continued on Next Page 6 Nena News antiquities (ancient Greek or value. You will notice that I’ve Roman, Byzantine, or the world left marketability and general of medieval Europe), or to the collector interest off this list. various and curious issues from When a sense of the Orient. If a collector has an “belief’ enters the seller’s interest in any of these venues, outlook, there is a good chance then he or she may be “one up” that all will not always work on the dealer and have some out well. To begin with, there sense of what the coin is and are a few common and still held what it might be worth. The misconceptions. One of the seller, on the other hand, might most insidious of these is, “If have a less finely tuned and it’s old, it has to be worth a more inflated notion of the lot!” Now this is simply not merchandise, and therein may true. Low grade but readable reside a point of friction. Roman bronzes can be had for When it comes to pitting less than a dollar, as a case in your own knowledge against the point. “unknown”, easily the simplest Another misconception and most enjoyable is the notion that a low mintage circumstance is an encounter automatically commands a high with a good old-fashioned “junk price (with “low mintage” box.” In this case, the rules are being a relative term). The rule clear. The seller doesn’t know to be applied is to consider how or doesn’t care what’s in the desirable a particular low box - all that is wanted is the mintage coin (or token) may be. price asked (fifty cents or a If there is no market for it, the dollar, as these things tend to be item will probably be worth real bargain basements). If the less than hoped - consider the buyer finds a treasure, as in low mintage coins produced by “one man’s junk is another the Franklin Mint in the man’s treasure”, then so much eighties and the fact that they the better, all the way around. have not really blazed their way A second variation on across the market. knowledge of a coin is when the So, a few problems seller believes he has some solid come together here. The first idea of what the item is, and its and foremost, I believe, has to condition, rarity and (hence) do with grading. As noted Continued on Next Page NENA News 7 earlier, there are excellent know how much you have into guides for grading Canadian it - how much will you take for and United States coins as well it?” This is the give and take as for those of the United of the marketplace, and it Kingdom (and most of the frequently works out for the nations of Europe if you can best. read the language), but beyond The thrust of this essay these borders lurks a world of is not to say, “Stick to only great subjectivity. The grading what you know”, because that standards for these “orphans” could be sad. A whole universe would probably look like what of numismatic adventures is the Charlton guide proposed for out there, just waiting to be Canadian coins in about 1970. taken up. The next time a junk In short, I suppose I’m box presents itself, a coin just talking about eye appeal. If the might be in there, which piques buyer and seller agree on grade, your curiosity, so why not take then that almost seals the deal. it home with you? Surely the If they don’t agree, and both price will be right, and the sides are open to discussion, rewards could be much more then it can be a true learning than you would imagine. experience. So, “Caveat emptor!” Pricing has to be Let the buyer beware. You realistic, or, at least, it has to be never know just what you seen as realistic by all the might be letting yourself in for. parties concerned. I suppose the It could be a lot more enjoyable operative question from the and enlightening than you collector to the dealer is, “You could ever imagine. DAVID S RARE COINS 137 Beach St., Wollaston, MA 02170 David S. Hamilton Want List Service (617) 479-7434 Member ANA, NENA 8 Nena News Medal Design Contest Y Win a set of 2005 NENfi Medal ou could be the winner of a set of 2005 NENA Medals. The set consists of one silver and one bronze medal. It’s easy to win! Send us a drawing of what you feel the NENA medal should look like and if your design is chosen it will be used for the striking of the medal for 2005. Entries are limited to NENA members and their immediate families. The design should have a theme related to New England or one of the New England states. Entry deadline is May 1, 2005. Good Luck!! Send your entries to: NENA MEDAL ENTRIES P. O. Box 920586 Needham, MA 02492-0007 2005 NENfl Dues fire Now Due Dear Member: Your 2005 dues are now payable. Dues are $12.50 for a regular or club membership and $5.00 for a Junior membership. For life membership and club life membership the dues are $200.00. We would appreciate having all dues remitted as soon as possible so that the membership list may be updated. Life Mem¬ bers do not pay annual dues. Please send your check or money order payable to N.E.N.A. to: NENA P. O. Box 920586 Needham, MA 02492-0007 Thank you for your support of NENA. Please consider including a donation to the Past Presidents’ Fund. This fund sup¬ ports our Young Numismatics activities and programs. Our YN program needs your contribution to keep our hobby strong. NENA News 9 Club Meeting Times and Locations Blackstone Valley Coin Club, Highlands, MA. Meetings all Blackstone Municipal Center at 8 P.M. the first Monday, Oct. Fire Department Meeting - June, except September: the Room, Blackstone, MA. Meet¬ second Monday of the month. ings third Tuesday, 7 RM. For information (978) 687- 2888 Boston Numismatic Society, Newton Highlands Woman’s Gateway Coin Club, Ballard Club, 72 Columbus Street, Hill Community Center, Newton Highlands, MA. Meet¬ Comer Pleasant and Main ings second Tuesday, Sept. - Streets, Lincoln, ME. Meetings June. For information call 617 first Tuesday, 7 P.M. For 244-1972 (Colony Coin) or e- information (207) 794-6833 mail to [email protected] Gorham Coin Club, Meets at Central Connecticut Coin the Maine Veterans Home, 290 Club, South Windsor Public U.S. Route 1, Scarborough, Library, Sullivan Ave., South ME, on the 1st and 3rd Sunday, Windsor, CT. Meetings first September to June at 7 P.M. Tuesday Sept. - June, 7 P.M. For information: Stephen A. For information: (860) 568- Crain, 89 Varney Mill Rd., 6601 Windham, ME 04062 (207) 892-7113. Collectors Club of Boston, Woman’s Club, 72 Columbus Greater New Bedford Coin Street, Newton Highlands, MA. Club, Andrew Dahill V.F.W., Meetings fourth Tuesday, Sept. Park Street, New Bedford, - June, 8 P.M. For information MA. Meetings second and (978) 687-2888 fourth Sundays, 7 P.M. For information: John Izidoro, P. Currency Club of New En¬ O. Box 2991, New Bedford, gland, Woman’s Club, 72 MA 02741 Columbus Street, Newton