Letters to the Editor (May 14, 2019)

Catalog Number

I am cataloging my worldwide coin collection and “stuck” in Portuguese India.My 2008 Standard Catalog of World Coins, 35th Edition 1901 - 2000 has no listing for the coins I have. All three coins are bronze 10 Centavos dated 1958, 1959, and 1961 and are roughly the size of a US Cent. What is the catalog number (KM#) of these coins, and what is the new name of the colony?Or was the colony eventually “absorbed” by India around 1961?

Bill Tuttle
Cleveland, Ohio

Finding the right people to sell coins to

I was lucky while stationed in Argentia, NFLDinthe early 60’s that I met a Navy CPO who collected coins and he was instrumental inshowing several of us in his crew it was a lot of fun. I have onlyrecently found a lot of my old coins and very much have enjoyed readingthe many articles in your emails. I think the thing that interests myself and my wifewould be what to do with the coins that we acquiredover the years.For some one new in any hobby, it seemsthat money is spent BUT you need to sell some to be able to buy more. How does someone find the right people to sell some of their coins, ESPECIALLY WHEN YOU LIVE IN A SMALL STATE OR MARKETSUCH AS I DO..

Name and address withheld

Happy Retirement

Dave,

I hope you get this as I just read in the recent issue of Numismatic News that you are/ have retired.I wanted to wish you the best as you move into the next phase of life.I will also say I will miss you.Hopefully, like Cliff, you’ll still be around from time to time.

Scott Canaan
Address withheld

Form of one oz gold items

In 1974 Congress passed a law allowing Americans to own gold again. I was working for the Federal government in donwtown Dallas at the time and know that banks stockpiled one oz gold in some form expecting the public to rush in and buy the gold bullion. The expected rush never materialized.

My question is, in what form did the banks provide the one oz gold items for sale? The $50 Gold Eagle had not yet been thought of.

Grady Smith
Granbury, Texas

Lucky Find

I had a friend who left his pickup to load trash into when the Northwest bank in Lead, SD was being changed over to Wells Fargo. When the truck was full of trash and other items not wanted by Wells Fargo he’d drive the truck to the dump and empty it out. This particular trip to the dump he was emptying out his truck and came across a box that had split down the sides because of the weight of everything stacked on top of it. He noticed a picture frame that had four banknotes in it, including: a Type I and a Type II $20 banknote from the 1st National Bank of Lead SD dated 1928, a $5 banknote from the same bank, and a 1882 $5 banknote, all under glass in a picture frame in almost uncirculated condition.

A couple of years later, I was showing my currency collection to my friend and he told me he had some banknotes similar to the ones in my collection. He asked me if I would be interested in buying them and I told him I would. The next day he showed up with the picture frame with the banknotes from Lead in it. I paid him $800 for the picture frame. I took the bills out of the picture frame and put them into currency sleeves and didn’t think much about them.

Then a couple of years later there was a huge currency and coin show in Rapid City where they were giving estimates and buying collections. I bought the 1882 $5 banknote along with some other bills and coins from my collection. I showed them to a local coin store owner who immediately took out the 1882 note. He asked if he could show it to another collector. I said sure and shadowed him while he showed it to one of his numismatic collector friends. I heard him say “Bill, this is worth a fortune”! The local collector started making offers to buy the note from me until he got to $8500. Another collector offered me $9000. I had to leave the coin show because people kept coming up to me wanting to look at the note.

I didn’t sell the banknote because I had never sold anything out of my extensive collection. When I got home I wanted to find out why everyone was so interested in my banknote. It didn’t take long for me to see why. Underneath Garfield’s picture was a number 1. The bill was a serial number 1 that I had never noticed.

A couple of weeks later I wanted to find out what the bill was actually worth so I listed it on eBay, make offer or buy it now at $50,000. Less than18 hours after listing it I sold the note for $50,000! I went to my friend I bought it from and gave him another $1000 without telling him what I sold it for!

Kirt Ratliff
Address withheld

Saddened by article in Coin World

I was appalled and saddened by the article in Coin World about the bankruptcy and pending liquidation of F + W Media. I have so much enjoyed Numismatic News over many years and I hope that a way will be found for someone to take over and continue publication of Numismatic News and the Krause books. So very sorry.

R.W. Barker
Midland, Mich.

Editor’s Note:

Bill,

Thank you for your concern. We are glad you enjoy reading Numismatic News. We are continuing to publish Numismatic News and the Krause Books as usual and are looking forward to continuing to publish them for many years to come.