Reno Cartwheel
October 2010

Next Meeting:
Tuesday, 5th of October  7:30 p.m.

Carrow’s Restaurant
605 N. Wells Avenue (Wells and 6th)
Reno, NV  

October
David Elliott Coins of Bulgaria.

November
Tentatively is Fred Holabird on Carson City coiner John Moffat

December
Minibourse–bring in you coins to sell and trade

At The Last Meeting

28 members were in attendance in September to hear Bob Nylen, curator of the Nevada State
Museum, give an excellent presentation of Abe Curry (pictured ) first director of the Carson City
mint. He had numerous slides of the pictures of the principals at the time  and pointed out the
inbreeding and nepotism of Nevada high society, which included Vanderbilts and the Alka-Seltzer
heiress. Club raffle prizes were on display and David Elliott had P and D quarters of the 1st three
national park quarters as well as all the island quarters and the Pierce and Buchanan dollars with
the rest of the presidential. Several hundred people were at the Carson Mint Coin Show where
Ken Hopple minted 30 more silver medallions. Get yours for $55. We are also advertising them in
Coin World and Numismatist.














Please let one of the board members know of a topic you would like to do or have presented.
Someone in the club knows all.

Early Bird Prize was won by Bob Wagner: a $5 Marshall Island Space Shuttle launch coin.

Raffle prizes winners were:
David Elliott: Liberty Bell Casino token, Vancouver Olympic set, 1968 & 1969 Israel mint sets
Jack Gruhler:1970 proof set, roll of pennies, coins of Israel
Bill Long: 1979 SBA set
Rick De Avila: Raffle tickets (
mystery box), proof set, mint set
Roger Edwards: Apollo II medallion, $2 bill
Ed Hoffman: $1 1935 G NM S.C.
Duke Morin: $2 dollar bill
Dan Trabke: LA Bicentennial dollar and mint copper coin
Ken Hopple: 1964 roll Canada Nickels, Washington half, 1984-D mint set
Glenn Fruehn: Canada mint set 1977
Karen Hopple: Orange County medallion
Rusty King: 1980 Australia penny roll

I WANT TO THANK EVERYONE WHO DONATES TO THE RAFFLE!

Tom Benjamin (not present) won quarter pot
               Auctions
1880s $1 in bezel won by $20 Rick De Avila
1901P $1 (donated by Rusty King) won by $30 AJ
NV Bicentennial Medal won by $25 Roger Edwards

Upcoming Coin Shows

October 1-2
Sacramento Valley Coin Club Annual Fall Coin Show , the Dante Club, 2330 Fair Oaks Blvd.
David Herr, 530-885-9050, gcce@ips.net

October 9-10
Diablo Numismatic Society 14th Annual, Holiday Inn, 1050 Burnet Ave, off 680 in Concord. Bill
Green (925) 351-7605.

October 30-31
The Reno Coin Club Coin Show, Saturday 9-6 and Sunday 9-4 at the Holiday Inn, 55 Nugget
Ave.  Admission $2, under 12 free.  Call Duke Morin for more information 775 741-0960.

November 14
Sanjose Peninsula Coin Club, Coins and Collectibles Show, Napredak Hall, 770 Montague
Expressway Fred van den Haak (650) 498-4158, fredvdh@gmail.com

March 17-19
ANA National Money Show, Sacramento Convention Center

RCC Officers
Doug Larson…. President……843-0162
Karen Sanguinetti..Vice Pres...857-4508
Ralph Marrone..Treasurer.……882-6741
Shannon Holmes ..Secretary….827-4359
Dan Waterman….Director……747-4380
Ed Waselewski…Director……354-0287
Gerald Breedlove….Director...425-2967
Duke Morin……….Director…856-4935
Paul Williams…ANA Rep...…720-5395
David Elliott........Editor...........815-8625
datbbelliotts@prodigy.net

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

The Other Coin: A Brief History of Cast Coins: Olbia to Cherson

Before King Croesus refined gold and silver and stamped coins in various denominations in the
late 7th C. BC. Coins were simply lumps, pieces, wire, and bars of silver or gold. The shekel of
the old testament and the silver shekels Abraham bought the cave to bury Sarah in look much like
the picture below. The shekel was a weight denomination.













Bronze coins, small change came along a good century and a half after gold and silver coins were
in circulation. The first bronze coins were minted in Olbia on the Black Sea and main entrepot for
Greek goods (wine, gold and silver work, olive oil) for grain that fed the overpopulated
mountainous and rocky homeland. Small change for the market place, once currency was
accepted, lead to the creation of Dolphin and Arrow coins in 5th century BC along with huge 150
gram, approaching 70mm coins disks exchangeable for silver.








The Celts followed a similar evolution, accepting gold and silver coins from the Greeks and then
creating a wide variety of bronze bells, rings, wheels and beads for small change as they imitated
Greek gold and silver coins of Phillip II and Alexander III. Several celators mastered Greek coin
production, but the majority minted designs of their own choosing in gold and silver and
continued to make cast bronze in small change, but now in the shape of a coin with Celtic images.














Strangely enough China and the Far East took the opposite path with cast bronze coins.
Insumeria (3500 BC) and China (c. 1200BC) shells, especially cowrie shells were used as small
change. Their scarcity encouraged traders to make them out of bone, then cast bronze. Other
cast bronze shapes quickly followed , especially hoes and knives, then the cast cash coin that
was produced until 1912.


















Meanwhile in the Roman Empire based in Constantinople, cast bronze coins continued in the city
of Cherson on the Northern Black Sea not too far from ancient Olbia. Cherson was new entrepot
to the riches of Scandinavia and what would become Russia. amber, slaves, honey, grain were
exchanged for wine and manufactured goods. It is still nopt known why the Romans and
Byzantine cast coin in bronze, but along with missionaries, cast bronze spread east and north
from the 5th to 12th centuries.











.


Casting coins is still a popular methods for some medals and medallions. In ancient times molds
were made in clay or metal and hot metal poured in to make the design. We have found such
ancient molds. A hinged mold produced images on both sides.













Numismatically Yours, David Elliott

Some Further Thoughts on Carson City Double Eagle Gold Coins
By Doug Winter – www.RareGoldCoins.com

I’ve been working on a third edition of my book on Carson City gold coins. I’ve been able to
uncover some really eye-opening new information on the rarity and price levels of Carson City
double eagles and I’d like to share a few tidbits.
The last Carson City book that I produced was published in 2001, so almost a full decade has
passed. My first impression about the market for Carson City double eagles is that it has become
far, far more active than ever. Prices have risen significantly since 2001, especially for rarities
and for high grade pieces.
In 2001, the five rarest Carson City double eagles in terms of overall rarity (i.e., total known)
were the 1870-CC, 1891-CC, 1871-CC, 1878-CC and 1879-CC (these last two issues were tied
for fourth rarest). In 2010, the five rarest Carson City double eagles in terms of overall rarity are
the 1870-CC, 1871-CC, 1891-CC, 1879-CC and 1885-CC (these last two issues were tied for
fourth rarest).
The 1870-CC has remained an extremely rare coin, despite a surprisingly high frequency of
auction appearance in the middle part of this decade. I had previously thought 35-45 were
known. Today, I think that number is around 40-50.
The rarity of the 1891-CC seems to have diminished quite a bit. I think there are two reasons for
this. The first is that I overestimated its rarity in 2001. The second is that a significant number of
examples have been found in Europe and other overseas sources.
The 1871-CC seems more available as well. In 2001, this issue was very hard to find in any grade
and it was almost never seen above AU50. Today it is more available and the number of coins
graded AU53 to AU55 has risen dramatically. I would attribute much of this to gradeflation as the
majority of the 1871-CC double eagles that I see in AU53 and AU55 holders are “enthusiastically”
graded, to say the least. In properly graded Mint State, the 1871-CC remains exceedingly
rare.        
A date whose rarity has become more apparent is the 1885-CC. In the 2001 edition of my book,
this date was not even listed in the top six rarest Carson City double eagles. I now rank it as being
tied for fourth along with the 1879-CC.
Everyone loves a sleeper, right? The dates that I believe are underrated (and undervalued) in the
Carson City double eagle series include the 1872-CC, 1877-CC, 1882-CC and 1892-CC.
If you purchased Carson City double eagles in 2001 and have held them since, you have done
very nicely. Obviously, one of the main reasons for this is the fact that gold has gone from
around $400 to close to $1300 in the past decade. I can remember buying common date CC
Twenties in lower grades (VF and EF) in the early part of this decade for $750 or so. Today, the
basal value of any CC double eagle is around $1,750-2,000.
Prices of high grades coins are interesting to study. One date that I looked at carefully was the
1893-CC, mainly because it is more available in MS63 than any other CC double eagle. In 2001,
you could buy an 1893-CC in MS63 for around $10,000-12,000. In 2005-2006, the same coin
would have probably cost you between $15,000 and $20,000. Today, if you can find an 1893-CC
in MS63 it will run in the $25,000-30,000 range and a really choice PCGS example with a CAC
sticker might even bring $35,000.
I’ll continue to tease you with updates on my Carson City book in the coming months and I’m
hoping that it will be ready for publication sometime in the Spring of 2011.