Reno Cartwheel
June 2011

Next Meeting:

Tuesday, 7th of June 7:30 PM
Carrow’s Restaurant
605 N. Wells Avenue (Wells and 6th), Reno, NV  

June My favorite coin
Bring an old or new favorite coin to share

July Coins of Cyprus
Coins of Cyprus of 7th century BC to present.

At The Last Meeting
35 members attended and Fred Holabird discussed the discovery of the 100 ounce gold nugget that he recently sold for
$460,000. It is one of the largest known and may be one of the largest existing from tha California gold fields. He discussed the
different types of nuggets, exploring some of the old gold mines as well as the production of the Comstock.  He had to silver
bars presented to George Ford and other engineers of the Comstock that will be in his next Western Americana auction.  He
discussed the importance of having auctioneers market your valuable to get the best price and just how much the marketing
cost.
Several people volunteered to help the ticket taking at the coin show this weekend. Please talk up the shows and attend. shows
are the best place to sell items as you can get offers from all the dealers at the show. there is also a good chance someone will
have something you are looking for the club will have its table with free coins for kids, our 25th anniversary medal, and ancient
and US coin displays.



















 
Early Bird Prize was a Lewis and Clark first day issue cover and nickel won by Jeff Allen.

Raffle prizes winners were:

Rick DeAvilla: 1832 large cent
Bert Daniels: 1890 $1000 gold plated treasury note
Britney Gruhler 1932 $2 bill
Mike Murphy: 1944 dime
Paul Williams 1972S proof penny
Ed Scott 1st day buffalo nickel cover, roll 2010 shield pennies
Ken Hopple: roll 2009 capitol pennies

I WANT TO THANK EVERYONE WHO DONATES TO THE RAFFLE!

                  Auctions

1942 half donated by Paul Williams(?) was won by Andre Azzam for $21
1936D xf quarter donated by a friend of David Elliott’s was won for $38

Someone (not present) won the
quarter pot of about $30.









Fred Holabird wanted to remind everyone that the club’s large library is house by him at 3555 Airway
Drive #308 (around back as Holabird Americana). Call ahead 852-8822.

Don’t Forget the Coin Show May 20-21st at Lawlor Events Center, University of Nevada
Reno, 10-5 Saturday, 10-3 Sunday


Upcoming Coin Shows

May 21-22 Reno Coin Show
AJ and Dan Waterman, Lawlor Events Center Western Americana and Coin Show. This year’s show is May 21, 10-5 and
22,10 AM to 3 PM Sunday. Lawlor Events is on the north end of the University of Nevada, Reno on N. Virginia St.  25 dealers,
free appraisals. $2 admission for all day. Reno Coin Club Members are free with badge.
We need ticket takers and club table volunteers.

June 26 Alameda Coin Show
Alameda Coin Club Coin show , HS gym on Oak Street at Central. Info: tmg_investments@yahoo.com

July 23-24 Fremont Coin Club Coin Show
Elk’s Hall, 38991 Farwell Drive, Fremont. Info:
(510) 792-1511

July 30-31 Vallejo Nor-Cal X Coin Show
420 Admiral Callaghan Lane. Sat 10-5, Sun 10-4. Info: EMPOROR!@juno.com (707) 246-6327


RCC Officers

David Elliott…. President….…815-8625
Rusty King..Vice President...... 673-6745
Gerald Breedlove..Treasurer.....425-2967
Andre Azzam ..Secretary…......338-0707
Dan Waterman….Director……747-4380
Ed Waselewski…Director……354-0287
Ken Hopple ....….Director.......677-1544
Paul Williams….Director…....720-5395
Paul Williams….ANA Rep.....720-5395
David Elliott........Editor...........815-8625
datbbelliotts@prodigy.net,   www.renocoinclub.org

The RCC Board meets the third Tuesday of the month at Carrow’s at 7:30PM. Everyone is invited to attend.


 The Other Coin: Notgeld

Notgeld or “not money” is German "emergency money" or "necessity money" that was special money issued primarily in
Germany and Austria to deal with economic crises such as a shortage of copper and silver during world War I and the
hyperinflation that followed due to the war indemnity, roughly 1914-1924. Neither the coins nor the paper notes were issued by
the central bank (Reichsbank),  but by various other institutions, e.g. town savings banks, municipalities, private and state-
owned firms. It was therefore not legal tender, but rather a mutually-accepted substitution for small change.
I want to discuss the coins, but the notes are varied and colorful and a wonderful hobby. Most of the Notgeld was issued in the
form of (paper) banknotes as any metal became worth more as metal than small change during the period of hyper inflation.
There are some 1000 mark coins replacing 25 pfennig coins, often in the same style, but small change soon was denominated
in millions, 10s of millions, and finally 100s of milliona and even billions of marks. Various forms of small change included:
aluminum, iron, zinc, leather, silk, linen, stamps, aluminum foil, coal, and porcelain, and even re-used paper and carton material
(e.g. playing cards). These pieces made from playing cards are extremely rare and are known as "Spielkarten", the German
word for "playing card".
























The first large issue of Notgeld started at the outbreak of World War I. due to inflation caused by the cost of the war. The
value of the copper, bronze, nickel, or silver that a coin was minted from was higher than the value of its denomination and
needed for the production of war material. Everyone started to hoard copper and silver coins. This caused a massive shortage
of metal for coinage, which was remedied by issuing banknotes in small denominations or non-traditional metals of iron, zinc
and aluminum.











As these banknotes were very colorful, they soon became a target for collectors. As the issuing bodies realized this demand,
they continued to issue these notes beyond their economic necessity up till 1922. Quite often the validity period of the note had
already expired when the notgeld was issued. The sets that were issued in 1920 and predominantly in 1921 were usually
extremely colorful and depicted many things, such as local buildings, local scenes and local folklore/tales. These sets (that were
not actually issued to go into circulation) were known as "Serienscheine" (serial paper money).In 1922 inflation started to get
out of control in Germany, leading to the German hyperinflation. Until 1923, the value of the mark deteriorated faster and faster
and new money in higher denominations was issued constantly. The central bank could not cope with the logistics of providing
the necessary supply of money, and Notgeld (Papiermark) was issued again, this time in denominations of thousands, millions
and billions of Marks. By 1924 coins in even zinc, iron, and aluminum were no longer made as their metal once again became
more valuable than small change. Because the Mark became so unstable, Notgeld was also issued in the form of commodities
or other        currencies: wheat, rye, sugar, coal, wood, natural gas, electricity, gold, or US dollars. These pieces were known
as 'Wertbeständige' or notes of 'fixed value'. (I can’t help but add that we are seeing the beginning of the same problem with
the inflation of our own currency as commodities like gold, oil, gas, and food have an inflation rate of 10% or more as were
dump trillions of dollars of paper money through “quantitative easing” and deficit spending.)



















The Austrians devalued their money from a thousand schillings (dollars) to 10 groschen (cents) in 1925. Imagine your savings
or pensions (401k) suddenly being worth 10 cents for every thousand dollars. Such inflation has roared through Africa, Eastern
Europe, Russia, Turkey, appears to be on the verge in Ireland, Greece, and appears to be the policy of our current
administration.There are thousands of notgeld coins issued in zinc, iron, and aluminum as well as porcelain, wood, and other
materials. The catalogs are still in German, but there is a checklist in English by Courtney L. Coffing, Guide & Checklist World
Notgeld 1914-1947 and a fairly extensive check list on line at www.joelscoins.com/notgeld/notgeldger1.htm The standard
catalog is still Walter Funck: Die Notmnzen der deutschen Stadte, 1916-1921 for coins. The paper money is in 10 volumes by a
variety of authors, also in German.

Numismatically yours, David Elliott

2011 National Coin Week Club Trivia Challenge

1.What is the legend (text) surrounding the design on the reverse of the Jos. H. Merriam Die Sinker Civil War token?
“Good for a scent 1963"









2.What is the smallest denomination of paper money produced by the Confederate States of America? $.50


3. In which state was the first issue of Confederate States of America paper money printed and what was its denomination?
New York, National Bank Note Company, any denomination

4.List ten Union generals and admirals who have been portrayed on United States paper money
Ulysses S. Grant   Gen. Hancock   Gen Sheridan  Gen. McPherson Gen. Thomas Gen. Meade
Com. Farragut  Gen Joseph King Mansfield Gen. William T. Sherman, Gen James Garfield, Gen. Benjamin Harrison

5.What united States Mints did the Confederacy capture during the Civil War? New Orleans, Dahlonega, Charlotte

6.What was the name given to merchants who catered to soldiers in the field or at posts during the war? Sutlers

7.Which of the slogans were NOT considered to be put on the 1864 two cent piece?    A. God Our Trust B. God and Our
Country C. Our God and Our Country
D. God and union E. In God We Trust

8. What was the first regular issue Federal Currency to display the American eagle? 1862 Legal Tender $100

9. The 1925 Stone mountain half dollar was issued to commemorate and raise money for Georgia’s Stone mountain bas-relief
memorial. Which US President’s likeness was considered (and ultimately declined) for the coin’s obverse?
Warren G. Harding

10. What private Colorado company, famous for its production of gold coins, was purchased by the US government in 1863?
Clark and Gruber and Company

11. What prestigious military decoration was created early in 1861?
Medal of honor













12. Three types of United States currency were produced that bore interest, and two were produced during the Civil War.
Name them.Interest bearing Treasury notes 1812-1861, Compound interest Treasury notes, 1879 Refunding certificate


13. Not including restrikes, how many Confederate States of America half dollar coins were minted? 4













14. What money was found in President Lincoln’s pocket when he was assassinated? $5 Confederate note

15. One month before the end of the war in 1865, Confederate Major Sidney Alroy Jones penned a poem some say was written
on the back of a Confederate $500 note. The poem became a symbol of the “Lost Cause” movement, and was featured , along
with several Confederate notes, on plaques. What was the name of this famous poem?

“Lines on a Confederate Note."

Representing nothing on God's earth now,
And naught in the waters below it,
As the pledge of a nation that's dead and gone,
Keep it, dear friend, and show it.

Show it to those who will lend an ear
To the tale that this trifle can tell
Of Liberty born of the patriot's dream,
Of a storm-cradled nation that fell.

Too poor to possess the precious ores,
And too much of a stranger to borrow,
We issued to-day our promise to pay,
And hoped to redeem on the morrow.

The days rolled by and weeks became years,
But our coffers were empty still;
Coin was so rare that the treasury'd quake
If a dollar should drop in the till.

But the faith that was in us was strong, indeed,
And our poverty well we discerned,
And this little check represented the pay
That our suffering veterans earned.

We knew it had hardly a value in gold,
Yet as gold each soldier received it;
It gazed in our eyes with a promise to pay,
And each Southern patriot believed it.

But our boys thought little of price or of pay,
Or of bills that were overdue;
We knew if it brought us our bread to-day,
'Twas the best our poor country could do.

Keep it, it tells all our history o'er,
From the birth of our dream to its last;
Modest, and born of the Angel Hope,
Like our hope of success, it passed.