JOURNAL OF THE BARBER COIN COLLECTORS’ SOCIETY VoIume VII, #? FaII 1996 SiNqlE Copy: $4.00 898'S Quarter 1 DoublE'DiE Reverse Contents BCCS President’s Message 4 From The Editor 5 Treasury Report 5 & Charles Barber Medal Holder 7 A Barber Story: Putting Together a Set ofDimes in F-VF. 9 State Of The Market ... by David Lawrence 10 Are Any Barber Dimes Over-Priced.7... by Russell Easterbrooks. ... 12 & Oddities Varieties 13 > Counterfeits 16 The Barber Keys: An Update on Certification... by David Lawrence 17 Barber Half Quiz by Jack White 18 ••. 1901-S Dime Survey: Denver ANA... by Steve Thorson 20 > Quiz Answers 24 Membership Renewal Application 25 Let ms be your source Certified for & Barbers other collector coins,,, Send or call to join our regular mailing list of certified U.S. coins. We have a better selection of the tough Barber dates you need than anyone else in the coun- try! You’ll also find a wide selection of quali- ty coins ranging from Indian Cents to Commems - at very competitive prices. Please check us out. Sett us your coins for top dollar! We are also active buyers of all certified U.S. - coins as well as complete collections (certified or not). Cali us on our toll-free line and speak to Dave or John. Or you can simply ship to us for our immediate review and offer. David Lawrence rare coins VA P.O. Box 64844 • Virginia Beach, 23467 (SOO) 776-0560 Local: 804-424-0560/ Fax: 804-424-2363 BCCS Charter MfAibrR #2 JOURNAL OF THE — — BARBER COIN COLLECTORS SOCIETY Published quarterly. Dedicated to bringing together people with similar inter- ests in Barber Coinage for the purpose of advancing appreciation of this series. OFFICERS Philip Carrigan President David Lawrence Editor, BCCS Journal Paul Reuter Secretary/Treasurer BCCS John Feigenbaum Typesetting/Layout, Journal Tom Mulvaney Photographer ADDRESSES For articles, submitting coins to be photographed and other journal — VA concerns write to Dave PO. Box 64844, Virginia Beach, 23467. & For membership dues information and back issues, write Paul MS Reuter at: 415 Ellen Drive; Brookhaven, 39601. For Society issues in general, survey responses, young numismatist award, etc. write Phil Carrigan at: 1105 N. Crescent Court; Round Lake, IL 60073. WeN eed Your Articles!!! The BCCS Journal needs your input! If you’ve got some information to share with the rest of the Society, we’d like to publish it. Please send submissions (handwritten, typed and/or on-diskette) to: David Lawrence C/O B.C.C.S. Article Submission 6095 Indian River Road, Suite 204 VA Virginia Beach, 23464 Deadline for next issue is November 15th ! 3 ANA 1996 in Denver seems to be a distant memory while this event took place only 8 weeks ago as I write this message. As I’ve written many times: No show ANA or other numismatic gathering can match an and ANA Denver lived up to this standard. I’ll push the 1997 IN New York City later in 1997 but keep thinking about attending this. August 17th marked the BCCS meeting at ANA. These are always fine opportunities to bring our diverse membership togeth- er on both social and intellectual notes. Historically, we do not fill the room at these meetings and this year continued this practice with eight members and deal' ers Jack Beymer and Dave Lawrence attending. Additionally, Paul Gilkes attended in the joint role of member and Coin World reporter. After routine opening reports, the remaining time was slated top discussion ofrecruiting a new editor for the Journal and specific Barber-related topics. I’ll sum- marize the latter first., There is a sold consensus regarding Liberty Nickels (or V- We nickels if you wish) and their inclusion with Barber 10c, 25c and 50c. need an article discussing some aspect of this series. Consider this: You can author the kick- off discussion of this series in our Journal. Invariably, any chat concerning Barbers My rapidly reaches the area of varieties. notes include two: 1893 dime with a lump in the 3 and apparently not the overdate, and a 1901 dime over what might be a 7 seemingly independent of the four types of repunched dates listed in the Lawrence treatise. (At this time there are no “overdates” documented after the 1893/2 Breen believed in.) Much of the general membership discussion focused on the recruiting of a BCCS Journal Editor. To recap this situation, Dave will complete his role as Editor at the close of this year and the publication of four issues for Vol. VI. He has exe- cuted this role with devotion, bringing top-notch expertise and in providing gratis use of support services through his business. There wqs a serious component in the discussion concerning the critical role the Journal plays in the life of our Society. We Our life and growth as an organization is highly dependent on our Journal. will recruit a capable editor to steer the preparation of articles and contributions as well as contribute to the content of select issues. To this end, I have sent to virtually all authors and contributors a letter indicating the position of editor will be open and asking that they consider sending a letter of application. At this point (i.e. mid October), we have one serious candidate and a few interested individuals making serious inquiry. If you have not received my letter but are interested in this role as editor, please write or call (804)937-5129) day:(847)546-5609 eve) or e-mail ([email protected]) to express your interest. There is not much space or time left to do this topic justice but does any- one notice the great collections coming on the market? I’m a bit biased in the 4 Canadian area of numismatics and thus excited with the November Norweb Sale. However, a departed friend and great numismatist, John Pittman, will have his J. collection auctioned next spring. Stay tuned for what this event will bring. Numismatic regards Phil Carrigan FROM THE EDITOR This is our third issue of 1996. As usual, it’s full of the kind of things we Barber enthusiasts like to read. But my backlog is getting thin. We need more contributions. The Society has about 300 members and yet less than a dozen of you are contributors to the Journal. Since we are all Barber collectors I’m sure everyone has a story to tell. How How did you get started collecting Barbers? long did it take to complete a set? What were the toughest dates to find? Great buys at little out-of-the-way coin/antique shops or auctions, etc. Everyone likes to read about these so please put something down on paper and send it in. Be as We specific as possible and don’t worry about the quality of your writing. will edit it. One thing we always seem to get information on are Barber varieties. I take this to mean that there are still many many repunched dates and mint marks to be discovered, not to mention errors and odd strikes etc. Keep look- ing. Perhaps in about ten years we will have most of them documented! And, please keep sending in information about them. We have one more issue to cram into 1996 so our deadline for articles, etc. is pretty short. I’d say by November 15th. Please send something! TREASURY REPORT SIX MONTHS ENDING JUNE 30, 1996 Opening Balance Jan. 1, 1996 $ 3,735.34 Receipts Dues $ 4,080.00 Back-issue Sales 183.50 Donation 85.00 Advertising 1,000.00 Total 5,348.50 Funds Available $ 9,083.84 Expenditures Journal Production $3,184.62 Postage 60.87 Donation 25.00 Bank Charges 4.44 ANA & Dues Convention 181.00 Total $3,455.93 Closing Balance March 31, 1996 $ 5,627.91 Signed: Paul Reuter, Secretary/Treasurer 5 (have tIhe coUector coiNs you neecI. I SencI foR Latest pRicE lisdNq. iviy Want qUdly ACCEpTEd. lisTs BRiqqs Rare CoiNs l_ARRy P.O. Box 87 1 Uma, OH 45802 419-228-2285 What Can Do For You? I With total confidentiality 1 will tailor my services to fit your needs, and: • Assist in the formation and location of any U.S. coin or currency collection. • Counsel collectors, dealers and corporations on any aspect of the numismatic business or hobby maximum • Act as personal representative for any numismatic transaction at a commission of 10% • Appraise collections or individual pieces on an hourly basis • Assist in the ORDERLY disposition of current holdings at current values Outstanding references available from collectors, investors, dealers and institutions from all regions of the country. Inquiries invited from qualified and serious individuals, busi' nesses and institutions by letter or telephone. Or, stop at my table at any ofthe major shows. I have a table at all of them! * M. Leidman Julian 940 Wayne Ave. MD ANA Silver Springs, 20910 Life Member 585-8467 (301) 6 CHARLES BARBER MEDAL & HOLDER •r— COIN MEDALS *Amm$ BARBER'S HMJ DOLLAR COLUMBIAN The originator of this medal, Toivo Johnson, ran ads in the 960’s selling these as part of a 1 set of six medals depicting famous coin designers. They are currently available in bronze and silver for about $ 5-25 and $60- 1 75, respectively. CHARLES E BARBER Here an explanation of the Charles Barber medal and holder is shown in our last issue. Many thanks to William A. Burd of the Chicago Coin Company, Inc. for the following: In 1900 President William McKinley ran for reelection and won. His Vice President Garret. A. Hobart had died the previous year so McKinley When chose Theodore Roosevelt as his running mate. McKinley was assassi- nated in 1901 Roosevelt became President. Barber sculptured the obverse of the official medal of Roosevelt commemorating his inauguration on September 14, 1901. This bust of Roosevelt is the object of Hathaway’s inquiry. In early 1960 coin dealer Toivo Johnson from Brewer, Maine commis- sioned Robert Schabel to design a series of six medals to commemorate vari- ous coin designers. They were Augustus S. Gaudens, Victor D. Brenner, Charles E. Barber, Christian Gobrecht, Euaenetos, and Longacre-Morgan. The medals were sculptured in very high relief on both obverse and 7 . 1 NY reverse and struck by the Metal Arts Co. of Rochester, over a period of 6 years. The obverse of each medal depicts an outstanding medallic work of the artist and the reverse symbolizes his work in coins. They were made in both bronze and pure silver. The silver medals are 3 inches in diameter, weighing approximately 6.7 troy ounces and are individ- ually serial numbered. The silver medals were offered at $30.00 each and the bronze at $5.00 each. Various holders were offered at $5 to $7 each. The holder in Hathaway’s picture is an official Johnson holder. The Charles Barber medal, the third in the series, was issued in 1962. Theodore Roosevelt was chosen for the obverse as one of Barber’s finest medallic works and because of Roosevelt’s interest in our U.S. coinage. Editor’s notes: NC 1 ) Charles Kirtley of Elizabeth City, told me that current values for the copper are $15-25 each and $60'$75 for each silver. 2) Charles Menard a BCCS member, sent us a copy of a catalogue from two - three years ago by Allan B Johnson of Maine He purchased one of the Barber . . medals in copper for $1 .50. Johnson offered the set of 6 medals with case for $625 in silver, $125 in copper. CA 3) William Lonergan of Simi Valley, also sent us information on this medal series SUMMIT RARE COINS ChRis NApoliTANO Box 1545 P.O. MN 55545 MiNNETONkA, 955-0668 (612) & SpEciAliziixq ChoicE Rare U.S. CoiiNAqE foR iix coIIector Ai\id investor poRifolios. i 8 A BARBER STORY: PUTTING TOGETHER A SET OF DIMES IN F-VF Like many collectors my age 1 began with pennies in the late 1950’s looking through my relative’s old crocks and whiskey bottles. My father was a half dollar collector. Faithfully he buillt a nice collection of Walking Liberty halves looking through rolls from the currency exchange. Like many, my col- lecting habits have waxed and waned through the years. have always looked I twice at my pocket change on spying an attractive wheat penny. Ten years ago my coin collection gained considerable interest once again. My father gave me his collection shortly before his passing. I’d not seen his coins since high school. Many of the halves had toned quietly in their Dansco albums hidden away in my Dad’s old strongbox. Some of them remember individu- I ally, my father having pointed out the lucky find to me at the dinner table over 35 years ago. An In the late 1980’s I decided to build a F-VF set of Barber dimes. old dealer know in Michigan usually has a stack of unfinished coin sets in his I shop. Finding 20 different dimes there meeting my specifications asked him, I ‘What would be the best you could do on these?” I was off to a good start. From the beginning decided to be fussy buying only accurately grad- I ed coins showing no harsh cleaning, talked to dealers about the dimes at I shows. Quickly found out from the knowledgeable the dimes sought from I I the 1890’s would be tough. I bought many through mail bids. Typically bid- ing 15% below Trends and returning coins I did not like. One small dealer included a note of helpful advice after bought two tough dates (1898-0 and I 1900-0 VF) in separate mail bids. We all know the mint marked dimes from the 1890’s are hard in F-VF. It is possible to go to a show with 40 dealers today and only find one of these dimes in VF. In 1988 I hit it lucky at the Michigan Numismatic Association Show. There bought a 1892-S, 1895-S, 1896-0, 1901-S, and 1909-S. I Regretfully I passed on a very attractive Fine 1895-0 due to spending all of my money on the other coins. have not seen a 1895-0 of equal quality since I then. Lucky finds have also come from my local dealer. The 1903-S found I in an old box of Mercuries in the corner of his shop. Fie probably bought it for melt and was happy to sell it me for 1/2 of Trends. The 1896-S I obtained in a trade for a nice 3 digit 1923-S quarter. The quarter was an inexpensive junk silver find. The last one? the 1895-0 of course. I bought it 5 years ago at the Michigan show. After paying for the dime, the dealer said: “ If you only knew how tough that is”. I thanked him, put the last one in my pocket, and ^ thought to myself, “Yes do”. I 9 by David Lawrence would like to address changes in grading standards. Like it or not, I grading standards have changed since third-party certification began in 1986. This is true of Indian Cents where it is most noticeable in slabbed 1877’s; in Buffalos, where yesterday’s VF’s are today’s EF’s; Morgan Dollars and every- where else. Of course, I’m referring to circulated coins. For uncs, the stan- dards were never established before certification, but books like Photograde ANA and the Grading Guide were quite specific about detail necessary for the circulated grades. This may not matter in common dates because they aren’t valuable in Fine, VF, etc. and don’t often get slabbed, but f—or the keys and semi-keys it makes a big difference. You say you don’t care that you’ll go by the old fashion standards? Then you are being foolish. Let me give you some examples. First, take the 1924-S buffalo nickel. Everyone would like a nice full horn for their VF ‘24-S (so would I!), but if you buy a certified one in today’s market it will not have one. If you are lucky the horn will be 3/4 length - what used to sell as a Fine Plus. The wholesale price for a Fine is $21 and for a VF, $280. Ah, but you happen to have a nice full horn ‘24-S in your collection which you bought in 1979. Great. Sell it to me (or any other dealer) for about $280. I will immediately send it off and it will come back an EF (wholesale value $850). The important point here is: If the coin consistently grades a grade higher than it used to, like it or not, the new higher grade establishes its current value. Another example can be found in Indian Cents. Let’s take the 1877, the most valuable date (not counting the 1856 F.E.). In the good old days, before slabbing, a VF had a full LIBERTY, but the letters were flat; an EF had a three-dimensional LIBERTY with 3 1/2-4 diamonds showing on the rib- AU bon; and an had some natural red color and real luster. Today, because this date is known to often be “weakly struck on the ribbons,” you may not even get full or close to full diamonds in an AU. Forget about some red color. If any natural red still shows it will grade an MS64 (or higher)! Flow does this apply to some of the Barbers we are interested in? Specifically, the three key quarters? Today the coin need not have anything “GOOD We money A close to full rims to be graded 4-” are talking here. 1901-S with full obverse rims, but quite a bit shy on the reverse, used to be an AG worth about $600-$750. However, a Good-4 has a wholesale value of - $1225. Interestingly, the three key quarters have different wear characteris- tics: The 1896-S is often found with full rims, both sides. Even if the detail of 10