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NeWNuMISMATIC Jersey Journal The Journal of the Garden State Numismatic Association Spring, 2002 Volume 27, Number 2 Rich Berberian, editor GSNA's ANNUAL CONVENTION MAY 30th - JUNE 1st As indicated throughout this edition of the New Jersey Numismatic Journal, the GSNA's annual convention is once again just a few short weeks away It will once again be held in the Ukranian Cultural Center in Somerset, NJ. and the show promises to include exciting numismatics, fellowship and education You can be sure to find just about anything to satisfy your collecting interests at what has always been a premier numismatic event of the year in the state of New Jersey. This year's show will also include several free meetings for GSNA members to be held on Saturday June 1st, as well as an excellent YN program once again run by Larry Gentile The GSNA show is listed in Coin World and Numismatic News as a club show. This is one of the reasons why this annual show is a bit different from those of more of a commercial nature The GSNA is your statewide numismatic club, with an emphasis on both the collector and dealer aspects of the hobby It represents all New Jersey collectors and dealers, and as such, takes a balanced view of the concerns and needs of ev eryone involved The youth program is always a high priority for GSNA Board members, as is the fine educational displays to be included at this year's show If you can make any of the free meetings to be held on Saturday, you will come away with just a bit more information than you came with, and the comraderie of fellow numismatists is the best bargain that you can get at the show, and it's price is right- free for all members If you can make just one of the meetings, try to attend the general membership meeting at 12:00 noon You'll surely enjoy it! New Jersey Numismatic Journal Vol. 27 No. 2 6S»» '“'fr 2002 May 30,31, June l Somerset, NJ SHOW HOURS DIRECTIONS Thur. 1 PM - 7 PM Route 287 to Exit 10 Fri. 10 AM-7 PM Take Route 527 North. Sat. 10 AM-5 PM Left on Davidson Ave. The Ukrainian Cultural Center SHOW CHAIRMAN: Tom Hyland is on the right. P.O. Box 26 Glenwood, NJ 07418 FREE ADMISSION 973-875-7926 FOR MEMBERS [email protected] Contact Tom for BUY, SELL, & TRADE Dealer Information. COINS, CURRENCY, TOKENS & MEDALS C4 & EAC MEETINGS BOOKS & SUPPLIES page 2 New Jersey Numismatic Journal Vol. 27 No. 2 Dear fellow members. Spring has finally arrived and it’s time once again for our annual GSNA convention and celebration. This year we are proud and pleased to celebrate our 27th gathering of numismatists from throughout the garden state and elsewhere. As always, admission is free to gsna members and we thank each and every one of you for your support. Our convention chairman, Tom Hyland has worked tirelessly behind the scenes throughout the year planning and preparing for our three- day convention. With the current state of the hobby, we are quite optimistic that this year’s event will be nothing short of a full house. We are pleased many of the coin, currency, token and medal dealers from last year will again be joining us. Ray Williams has organized the meetings of club and specialty organizations, which will be taking place primarily on Saturday, please see inside for published schedule. We are pleased to have Larry Gentile’s Y/N, young numismatist program available on Saturday at 10 am., it’s a wonderful program for the youngsters and includes prizes and a pizza lunch, all free to the kids. If you have children or grandchildren, bring them with you on Saturday and while they are attending the Y/N program, you’ll be free to attend your favorite meeting or simply walk the bourse floor. Speaking of meetings, don’t forget the annual gsna meeting on Saturday, please stop by and show support for your state organization. The meeting is informal with an introduction of the gsna board and a brief‘state of the gsna’ address. I always have the honor and pleasure of presenting the awards for the gsna numismatist and club of the year at the meeting. If you are a reading this journal, you are certainly a gsna member, please join us for the meeting or simply stop by to say hello, it’s always a pleasure to meet with fellow members. Educational exhibits will also be on display thanks to Ray and George Skic. We always have many requests for the exhibits and we provide them in an effort to both educate and entertain. Always allow time to view the exhibits, we’re certain you will find them to be both interesting and enjoyable. Jim Majoros, our master of ceremonies, will also present an educational program on Saturday designed to assist our local clubs. Paul Pfiel, past president and long time friend of the gsna will be on hand with any coin albums or supplies you might need. Paul, Frame-a-Coin, will be located in the front lobby, remember to bring your supply list along. Better yet, bring along your best friend and sign them up as a new member. Friendship, education and numismatics (in that order) is what the gsna is all about. Most importantly, don’t forget to mark your calendars for May 30, 31 and June 1st for three wonderful days of numismatics, we especially look forward to seeing you. I regret to announce that after this year’s convention business is reconciled, our treasurer, Doug DelGuercio will be resigning from the gsna board. Doug, a friend, professional accountant and fellow board member has done a wonderful job for the last several years and his leaving is our loss, is an understatement. You may recall that Doug recently underwent cardiac surgery and we’re pleased to report that he is doing very well. We wish him the best of health and future success. I want to thank him personally and on behalf of the executive board and all the membership for an outstanding iob. A professional financial manager with his level of integrity is hard to find and they will be without a doubt, tough shoes to fill in the months ahead. We are proud to announce that our lsl Vice-President Jim Majoros has been appointed national Y/N Director for the American Numismatic Association. Jim, a friend to us all, a long time board member and our A.N.A. representative is also President of the Ocean County coin club. Jim and the OCCC have been acclaimed a model for Y/N programs and they could not have made a finer choice. Congratulations to Jim, we wish him continued success in this most important program. Page 3 New Jersey Numismatic Journal Vol. 27 No. 2 The coin market/hobby remains very active with ‘select’ coins selling like hot cakes. What are select coins? Any coin of exceptional quality with great eye appeal, collector coins that are problem free (better dates/better grades) and of course key date coins. I believe the Baltimore show is the largest in the northeast and I spent an entire day from 10am till 7 pm. trying to find a ‘nice’ 1928 peace dollar to no avail. I looked at many/many coins certified by each of the many grading services in ms-64 / ms-65, yet could not find a choice one. This is the problem that dealers and collectors alike are having, it’s easy to sell a nice coin, difficult to locate one. I did eventually buy a nice Cincinnati Commemorative half-dollar graded NGC 65, it possessed exceptional eye appeal and the bid for the next grade to ms-66 triples in price. I hate to drive all the way to Baltimore and leave empty handed so I left somewhat pleased with at least one purchase. Unfortunately or fortunately for me the coin was sold to a dealer within 10 minutes of my setting up at the very next show. What I’m saying is that it took me 9 hours to find a nice coin to buy and 10 minutes to sell it. This is reflective of the current state of the coin market/hobby. At least I enjoyed the coin for a week and made a small profit to cover my expenses for the trip. Actually, the motive for my trip to Baltimore was not coin business, I went to assist in promoting our convention to the national level dealers. It remains a hard sell, many dealers remain gun shy of New Jersey and remain hesitant to return to our state for tax reasons. Their arc certain, rather vocal, dealers who remain adamant that they will never return to the garden state. I’m sure they have a reason to feel insecure and it doesn’t take a rocket scientist to figure out what they are all about. We attempt to attract the honest dealers and build a relationship with them so they will return year after year. Last year, our dealer survey was very positive and I’m happy to report many of these select dealers are returning. It seems every week there is a coin show somewhere within a reasonable driving distance and they all do very well. While the commercial shows continue to flourish, we continue to struggle because we place the needs of our membership above profitability and table sales. So be it... As always, we thank you for your continued support of our organization. Kindest regards, Robert Beels Jr. President page 4 New Jersey Numismatic Journal, Vol. 27, No.2 Clubs Around the State News of past and Upcoming Events by your Coin Club MONDAY EVENINGS Forks of the Delaware Club meets at the Grace Lutheran Church on Rosebury Street and Rt 22 in Phillipsburg, NJ on the first Monday of the month at 7:00pm (except on holidays and Labor Day then the second Monday) Rod Rufe, President Sussex County Coin Club meets at the Elks along the Boardwalk on Lake Mohawk the second Monday of the month Joe Bunw, President Ness Jersey Numismatic Society meets at the Helen Chase Room of the Madison, NJ Public Library the third Monday of the month Ray Flanagan President, Internet:coinguy(g eroLs. com The NJNS was established in 1933 and has met continuously since then It is open to all persons interested in numismatics, ranging from ancients to modem coinage. Trenton Numismatic Club Meets at the Jesvish Community Center 999 Lower Ferry Road in Ewing Township. NJ on the fourth Monday of each month. Dave Ronco, President - Address c o TNC. PC) Box HI22, Trenton, XJ 08650 TUESDAY EVENING CLUBS Northern Valley Coin Club Meets in the social hall of Demarcst Methodist Church. 109 Hardenburgh Avc Dcmarcst. NJ at 7:30pm on the fourth Tuesday of the month. John Lorenzo, President The club's April program featured Spencer Peck, who gave a talk dealing with the dev elopment of the New Jersey Stale quarter program Plans for the June meeting include a sure to be interesting talk from Frank Dolan dealing with Civil War tokens Club dues are only $15 a year fro regular members, and $5 for junior members. page 5 New Jersey Numismatic Journal. Vol 27, No. 2 Clubs Around the State TUESDAY EVENING CLUBS Ocean County Coin Club Meets in the Brick Township, NJ Minicipal Complex the first and third Tuesdays of the month Jim Majoros, President The club continues to be one of the most active in the State, having recently sponsored a Tuesday evening exhibit and show highlighting National Coin Week on April 16th Cher 50 local visitors joined 30 club members and 12 dealers for the 3 hour evening event Exhibits displayed by the club's junior members were the highlight of the evening Mention goes to club member Dennis Berube whose hard work made the evening a success. In other club news. April's meeting featured a talk given by Harry Garrison, which dealt with irradiation of coins which Harry bad received in the mail VVatehung Hills Coin Club Meets on the second Tuesday of the month, at O'Conner's Steak and Ale Restaurant on Mountain Blvd m Warren, NJ - 7:30pm Dave Bailey, President The club’s annual dinner was set for May 3rd at O'Conners Steak House.The dinner follows the club's once again very successful annual show, held this year on March 10th at the Bridgewater Elks Club Recent club activities ^included an interesting presentation on Spanish Pillar coinage given by Carl Clegg. Carl's slide show and knowledge made for a very interesting and entertaining evening. WEDNESDAY EVENING CLUBS Roxbury Coin Club meets at the Roxbury Tvvp Library, 103 Main St., Succasunna. NJ on the first Wednesday of the month (from 7:00 PM) Joe Bume, President The club's April meeting featured Mike Fey. who presented an interesting program on one of the hottest segments of the coin market. Franklin Half dollars The club is planning a "four club" meeting to be held in August, 2002 in Hackettstown Westchester County Coin Club #062 Meets 8 p m on the third Wednesday of the month at the Community Meeting Room of St Pius X School on Ramsey Road in Scarsdale. NY Club mailing address is P C) Box 272. Mohegan Lake, NY 10547-0272 Jonathan Lerner, President Club member Joe Trezza spoke on Liberty Seated dollars at the April meeting, with Anthony Swiatek scheduled to speak at (he club's annual dinner held on May 2nd page 6 New Jersey Numismatic Journal, Vol. 27, No. 2 Clubs Around the State WEDNESDAY EVENING CLUBS Hackettstown Coin Club Meets at the Hackettstown Community Center on Rte 46 at 7:30pm on the fourth Wednesday of the month Frank Dolan. President The club recently held a coin show on Sunday. April 28th at the American Legion Hall in Hackettstown Club activates have also included trips to the Philadelphia mint, the Smithsonian in Washington, D C . and to the ANA show in New York City. THURSDAY EVENING CLUBS The Currency Club of Chester County Meets on the 3rd Thursday each month at 7:00 P M. at Borough Hall located on the comer of Adams and Gay Streets in West Chester, Pa. Nelson Page Aspen, club contact person Mel Steinberg. Richard Haude and Paul Saylor were recently welcomed as new club members. Bob Csemek also recently gave an excel leny presentation on domestic and international bonds and stocks, with Ed Stewart scheduled to present on Fractional Currency of 1862. at a recent club meeting. Clifton Coin Club meets the 1st and 3rd Thursday at 7:30pm at the Clifton Recreation Dept 1232 Main St in Clifton. NJ Frank Ortega. President, contact person- Betty Kapchus at cavellplace®aol.com FRIDAY EVENINGS Summit/Chatham Coin Club Meets at the Chatham Boro Fire House, 54 Fairmont Ave Chatham Boro on the second Fridas of each month. (t arren Rymer. President Saturdays Classical Numismatic Society meets at I 00 pm on the 2nd Saturday of the month at Win Rohrcr Memorial Library meeting room. MacArthur Dr. and Cuthbcrt Blvd in Haddon Twp NJ. Herb Matthews. Jr President. Meetings include a presentation on Greek or Roman coins Garden State Coin Club meets at ST Luke's Church located of Rte 1.30 & 1 lighland Ave. in Westville, N on the second Saturday of the month. Frank Pallante, Sec/ Treas is the club contact person To include your club's news and events in the next edition of the New Jersey Numismatic Journal, contact the editor at richberb a hotmail.com page 7 New Jersey Numismatic Journal Vol. 27 No. 2 GSNA Update & News This year's convention will include a number of free special programs as outlined below. Be sure to attend the program of your interest. All GSNA members are welcome. Convention Schedule of events'. Saturday, June 1. 2002 10:00 am - Young Numismatists program 11:00 am - NJ Exonumia Society meeting 12:00 noon - GSNA general members meeting 1:00 pm - EAC and C4 meeting (combined) 3:00 pm - Education program for member clubs Welcome new GSNA members: Dennis Berube (R-1463) Arthur Miller (R-1465) Christopher Caracino (R-1464) GSNA Business Meeting Bits: The GSNA Board last met on Wednesday, March 13, 2002, to review plans for the convention as well as other GSNA business. Dues for the forthcoming year are now due from members. Please ensure that you are up to date to continue your membership. It was noted that Larry Gentile will once again be running the YN Program at our annual convention. All of the Board members expressed appreciation to Larry and were happy to hear that his health has improved to the point where he can contribute his valuable services. GSNA Board member Spencer Peck reported that the New Jersey Sales Tax Exemption bill is currently on hold. Ray Williams, our tireless exhibit coordinator, reported on planned exhibits. Be sure to make a point to visit these exhibits at the show and contact Ray if you want to add yours. Page 8 New Jersey Numismatic Journal Vol. 27 No. 2 GSNA volunteers who have aided in the continuous operation of the GSNA are: (i to r) standing - Jim Majoros, Doug DelGuercio, George Skic, Frank Dolan, Tom Rothacker, Dennis Berube, Spencer Peck & Bob Beefs. Siting are Ray Williams, Tom Hyland & Ron Thompson, (Unavailable for the photo were Peter Wacker, Rich Berberian, Steve Middleton & Steve Saucheiii) in addition, the GSNA has been very fortunate to have additional volunteers that assisted at the annual convention. Ail this has been very much appreciated. U. S. COMMEMORATIVE $50.00 GOLD RARE PANAMA-PACIFIC $50.00 ROUND Page 9 New Jersey Numismatic Journal Vol. 27 No. 2 GSNA Dealer Profile Tom Stepanski, Jr. Ed note: Each edition of the GSNA journal features a member dealer, who has earned a reputation for their knowledge and particularly for their honesty and integrity. The featured dealer this month is Tom Stepanski Jr., who certainly meets both of the criteria indicated above. Tom always treats his customers with respect and deals fairly with all who encounter him. 1 recommend you look for Tom at the GSNA convention as well as at other numismatic venues (you may also find him at a New Jersey Devils game, but that is for another article. My name is Thomas Stepanski. Jr. and I am 36 years old, married and have two children, ages 8 and 10. I am a professional numismatist and current owner of Dart Stamp & Coin Shop in Middletown, New York. I started collecting when I was 6 years old with coins found in circulation. I quickly became immersed in the hobby and started attending coin shows with my father Tom Sr. Soon I became a “regular” at the shop I now own. It is one of the oldest full service stamp and coin stores in New York. I attended Syracuse University and graduated in 1987 with degrees in Political Science and International Relations. At that time, the business was for sale, and I bought it less than two months after graduating. I started slow and worked my way up to where I now attend 42 shows a year. Owning a store means that you have to do a little bit of everything, but I consider my specialties to be early type coins, key date coins and gold coins as original as possible. I have been associated with numerous collecting organizations and I am a life member of ANA. PCGS, NGC, FUN and the Sussex County, NJ Coin Club. I have been a member of the GSNA for over 12 years now, and consider it to be one of the best regional coin clubs in the country. The people involved with the GSNA are great. I consider this to be the main reason I am still involved with the organization today. page 10