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Factoids & Trivia
| Questions & Answers |
Factoids & Trivia |
| August 2010 |
Q. What is the sequence in which a coin is struck?
A. There is a very common misconception that coins are struck on one side and then the other. However what actually happens is the coin is struck between both dies while being held by the collar which creates the edge. Proof coins are struck 2 or more times to ensure the detail is fully brought up. (Coin Clinic, A. Herbert, 1995)
Q. Where did the expression "plug nickel" come from?
A. The original phrase was "not worth a plugged nickel." I believe the original source was the practice in the West of using nickels for target practice. A nickel that was hit by a bullet was considered "plugged" and worthless. (Coin Clinic, A. Herbert, 1995).
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Fact: In the Neolithic Age flint was one of the first things used as money. In Britain circa 4000 to 2000 BC, flint was mined on a large scale at Grime's Graves and Harrow Hill using Red Deer antlers as picks and the shoulder blades of oxen as shovels. Flint from these mines was shaped into "roughouts" for axes, to be finished and polished by the end user. These roughouts range in length from 4 to 7-1/2 inches, and are found at considerable distances from the mines. They were certainly used in trade by the flint miners, and if sufficiently uniform may have had a definite value as well. (Curious Currency, Robert D. Leonard Jr. 2010)
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| July 2010 |
Q. Who was the first living person to appear on a U.S. coin?
A. The most recent was Eunice Kennedy Shriver, founder of the Special Olympics. She appeared on the obverse of the 1995 Special Olympics Silver Dollar. The first, however, was Gov. T.E. Kilby on the 1921 Alabama Centennial half dollar. (Fascinating Facts, Mysteries, & Myths about U.S. Coins by Robert Van Ryzin)
Q. What are Ogoja Pennies?
A. Tribes in southern Nigeria made "Y" shaped iron currency bars, popularly known as "Ogoja pennies" but called by natives "yakaro", "iyayaw", or "efufy" depending on the local tribe. In the first half of the 20th century, their value ranged from about a penny to a halfpenny. (Curious Currency, Robert D. Leonard Jr.)
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Fact: Faustin E. Wirkus was a U.S. Marine Corps Sergeant who was acknowledged as king by the residents of La Gonave, a small island 40 miles off the coast of Haiti. Wirkus was sent by the Marines to Haiti in 1925, with orders to set up headquarters in La Gonave. He was ordered to collect taxes from the natives to be paid to the central government in Port-au Prince. Wirkus had been warned that the natives believed in the occult and that voodoo was a common practice. To his great surprise, however, he was warmly greeted by the natives, who said they were his loyal subjects. They proclaimed him to be King Faustin II. The natives, it seems, had been awaiting a king for many years, ever since the first died in 1849. Before his demise, the first Faustin told his subjects that he would return one day. Even though King Faustin I was a black man and Wirkus was white, the people of La Gonave didn't care. They had their new King. Wirkus retained his Marine post and his royal title for 4 years, until his duty was terminated in 1929. Word had spread about his experience in Haiti, and he returned to a hero's welcome in New York. He lectured and wrote about voodoo as a civilian and then rejoined the Marines when WW2 broke out. Wirkus, aka King Faustin II, died of cancer in 1948 in a New York military hospital. (CoinAge Magazine, Feb 2010, Tim Toolen, Coin Capsule: 1948).
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| June 2010 |
Q. Is there any factual basis for the search for the legendary golden fleece?
A. It is thought to be based on an expedition of circa 1200 to 1000 BC to seize gold dust washed out of river sands with the aid of sheepskins, in the region of Armenia.
Q. Are there a lot of counterfeit coins in collector's hands?
A. It seems there are substantial numbers. In 1977, when coins the Organization of International Numismatists used in educational seminars were stolen, they were replaced in a matter of days by donations from dealers and collectors. For the record, it is illegal to possess, sell, trade or otherwise dispose of a counterfeit coin, which should be turned over to the Secret Service. (Numismatic News, Alan Herbert/Coin Clinic, June 1 2010)
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Fact: Many US Coins and pattern issues utilize a wreath as a major part of their design; while not as famous as a rendering of Miss Liberty or bald eagle, the wreath is still a lovely way to show the major plants and crops grown in the country, or a lasting symbol of peace, victory or strength. (Numismatic News, Ginger Raspus, Jun 1, 2010).
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| May 2010 |
Q. In March of 1863 the U.S. government started issuing 3 cent fractional currency notes. What would 3 cents buy back then?
A. It was mostly a boon to small merchants selling a myriad of small items (I.E. a beer, a paper, snacks,) allowing them to make change when small coinage had been hoarded to the point of unavailable. It also was the cost of a postage stamp and was accepted as such. An important thing in the time of the Civil War when communication was conducted mostly via post.
Q. Is it correct that a convicted counterfeiter produced early U.S. coin dies?
A. Abel Buel had his ear cropped and his forehead branded for altering 5-Shilling notes. Later, he did most of the dies for the Connecticut coins and in 1786 he cut the dies for the Fugio cent. (Alan Herbert, Coins Magazine, May 2010)
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Fact: In 1969 due to the Canadian Nickel Miners strike banned the export of Canadian nickels. World demand for nickel, used to replace silver in many world coins, exceeded supply, and a Canadian 5-cent piece contained 7-cents worth of nickel. (Alan Herbert, Coins Magazine, May 2010).
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| April 2010 |
Q. Where does the phrase "I was just Joshing you" come from?
A. One of the first people to alter the new 1883 "V" nickel was Josh Tatum. He and a jeweler friend gold-plated and reeded the edges of over 2,000 of the new nickels and succeeded in passing them as $5 gold coins. He was eventually arrested, but being a supposed deaf-mute he argued that he only accepted the change that the shopkeepers gave him. His victims were unable to dispute his version and after his acquittal some say that his story inspired the quote. (From: The Numismatist, Apr. 2010)
Q. Everyone knows that the 1864 2-cent coin was the first U.S. coin to use the phrase, "In God We Trust" but what was the last coin series to be updated with the phrase?
A. The Jefferson Nickel introduced in 1938 was the last denomination coin to have the motto added. As an aside, Numismatic News recently conducted a reader poll and only 25% of the readership believes that the motto will still be on our coins 10 years from now.
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Fact: Gold has served as money or established the monetary values of currency longer than any other material. The use of gold coins was widespread in Europe by the fourth century B.C.
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| March 2010 |
Q. Why were the numerous Civil War tokens banned by the government in 1864?
A. One of the principal reasons was that some merchants refused to redeem the tokens they had issued. Ironically, after banning the tokens for this reason, the government proceeded to issue coins that also were not redeemable. (Numismatic News, Coin Clinic by Alan Herbert, April, 2010)
Q. Did any companies pay stock dividends in gold?
A. There were at least 2 firms in the United States and 1 in Canada. The Homestake Mining Co. mine at Lead, SD at one time produced 30 percent of the U.S. supply and used to pay its employees with gold coin.
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Fact: In 1933 the superintendent of the San Francisco Mint opened a vault storing 29,086 sacks (1,000 coins each). The sacks had been stored for 5 years without the vault being opened. When the vault was opened it was discovered that the sacks had rotted due to moisture. The Superintendent stepped inside the vault to look and then exited. At that point the stacks of bags collapsed and 29 million coins flooded the hallway. It took 14 employees 2 months to gather all the coins, weigh them, count them and re-bag them. The full story is described in the March issue of the Numismatist
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| February 2010 |
Q. Was there really a serious effort to switch to aluminum coinage back in the post-Civil War period?
A. There was, for a significant reason. At the time aluminum was still a relatively scarce metal, and in 1867 when a series of aluminum patterns were struck for the 5-cent coin, aluminum and silver were equal in value. The mint was having difficulties with the nickel alloy coins, which caused serious die problems because of the hardness of the metal. (Numismatic News, Coin Clinic by Alan Herbert, February 2010)
Q. Where does the term "Passing the Buck" come from?
A. The expression has more to do with poker ante's than money. It goes back to the Wild West in the late 19th century, when poker players used a marker called "the buck" to designate the dealer in each game. This "buck" was commonly a knife with a handle made of buckskin. When a new player took over as dealer, the buck was passed. (Coinage Jan, 2010, What's in Many Names, by Mike Fuljienz)
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Fact: Fugio cents were the first coins authorized by authority of the United States on April 21, 1787. These cents were coined in New Haven, Conn. and possibly elsewhere. Most of the copper used in this coinage came from military stores. It is believed to have been the copper bands which held together the powder kegs sent to us by the French. The dies were made by Abel Buell of New Haven.
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| January 2010 |
Q. What are Civil War tokens and are they common?
A. Civil War tokens were privately issued tokens to make change during the the Civil War due to the hoarding of U.S issued coins. Over 25 million tokens were produced, usually in 1to 25 cent denominations. Tokens are a popular collectors items because of the variety and they are inexpensive, roughly $10-$25 for a nice example.
Q. Is there a series of U.S. coins with the mintmark on different sides in the same year?
A. The 1917-D and -S Walking Liberty halves started 1917 with the mintmark on the obverse. When the design was modified, the mintmarks were moved to the reverse. (Coins Magazine, Alan Herbert, Feb. 2010)
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Fact: When Roosevelt dimes were introduced in 1946, there was a rumour started that the initials "JS" at the base of the portrait of Roosevelt stood for Joseph Stalin. In reality the are the initials of John R. Sinnock, the coins designer.
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| December 2009 |
Q. Did the slang term "buck" for a dollar have anything to do with the deer population in our forests?
A. "Buck" is traced to the Ohio area and several others, where deer skins were at one time or another used as money, a prime hide being worth about a dollar. "Long Green" is another such term, coming from the tobacco money of Virginia and Maryland. (From "Bank Note Reporter" Dec 2009 by Alan Herbert.)
Q. Where did the nickname "Mercury" dime come from?
A. While the design suggests the Roman God Mercury, the main device is a representation of Liberty. The wings crowning her cap are intended to symbolize liberty of thought.
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Fact: In 1980 Brian Ingram found the remains of 294 $20.00 bills on the banks of the Colombia river in Washington State. The bills were identified as part of the ransom money paid to an airline hijacker identified as "D.B. Cooper" who parachuted, probably fatally, from the aircraft after the ransom was delivered. Brian was allowed by the FBI to keep a portion of the find, mostly unredeemable remnants. 15 pieces of the notes were later encapsulated by PCGS and sold at auction in June 2008 for a total of $37,000. The largest piece was 6.75 square inches comprising approximately 40% of the total note which sold individually for $6500 due to it's provenance.
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| November 2009 |
Q. Why are Standing Liberty quarters sometimes referred to as "Woolley" quarters?
A. When the Standing Liberty quarter was released the Director of the Mint was Robert W. Woolley. He had just been selected as the chief publicity man of the Democratic National Committee and many in the press believed he was the coins designer. They were incorrect in that assumption as it was actually Herman MacNeil that won the design competition with his submission.
Q. What is the significance of the "Arrows" at the dates of 1853 and later silver coins?
A. The official value of silver and gold bullion were tied together and due to the California Gold Rush silver coins developed more bullion silver value than face value. This caused hoarding and melting of silver coins and in an effort to get silver coins into circulation for change the silver content was reduced. This reduction was indicated by "Arrows" on either side of the date on the coin without having to redesign the coins. Arrows were used on half-dimes, dimes, quarters, and half dollars of the era.
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Fact: In 1943 the Treasury Department resorted to producing Lincoln cent's from zinc coated stee due to the diversion of copper resources to produce shell cases. The coin was often mistaken for the dime and disliked by the public. The Treasury considered distguishing the steel cent by punching a hole in the middle but no one liked the idea of Lincoln with a hole in his head!
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| October 2009 |
Q. I see ads for Eisenhower Dollars for sale that are noted as "Blue" Ikes and "Brown" Ikes. What are they?
A. From 1971 to 1974, the Mint struck 40% silver Ike dollars annually in both Proof and Uncirculated versions for sale as collectors items. These were offered individually in special packaging which caused them to be dubbed "Brown Ikes" and "Blue Ikes" respectively
Q. When collecting World coins what is the standard used to define the obverse and reverse sides?
A. The Krause Standard Catalog of World Coins uses 2 definition policies.
• 1. For those coins depicting the ruler or monarch of a country, the bust side is the obverse.
• 2. For those coins from a republic or other non-regal form of government, the side with the designation of the country is the obverse.
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Fact: In May 1870, the assay office in Central City, Colorado analyzed a sample from the Kent County Mining Lode and concluded that a ton of the ore would yield 5.80 ounces of gold and 31.00 ounces of silver. That would have provided coin values of $119.00 of gold and $40.00 of silver. Of course, that was based on the Mint's current valuation of $20.67 per ounce of pure gold! Gold was discovered there in 1859 and the phrase "Pikes Peak or Bust" became part of American legend as treasure hunters descended on the area in droves.
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| September 2009 |
Q. Are there any estimates of how many gold coins escaped the 1933 Presidential recall?
A. A surprising number, many of which were in world bank vaults at the time. It's estimated that 4.9 million gold $20s, 8 million $10s, 10.8 million $5s, and 12.2 million $2.50s survived. Face value was estimated at between $260 and $280 million. (From Coins Magazine, Coin Clinic, by Alan Herbert, Oct 2009)
Q. What is the source of the coin motto "God We Trust"?
A. It is an excerpt from Francis Scott Key's Star Spangled Banner, Let this be our motto, In God is our trust." (From Numismatic News, Coin Clinic, by Alan Herbert, August 18, 2009)
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Fact: In its own time, the Standing Liberty quarter was considered an unlucky coin due to the fact that it had 13 stars at the sides of the gateway through which Liberty is passing, 13 stars around the border on the reverse side of the coin, 13 letters in the inscription "Quarter Dollar", and 13 letters in "E Pluribus Unum."
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| August 2009 |
Q. Who designed the the Jefferson Nickel?
A. The Jefferson Nickel was designed by Felix Schlag. He won an award of $1,000 in a competition with some 390 artists. His design established the definite public approval of portrait and pictorial themes rather than symbolic devices on our coinage. (from "A Guide Book of U.S. Coins" by R.S. Yeoman.)
Q. Are there any Black Female U.S Treasuer signatures on U.S. currency?
A. Azie Taylor Morton, who served as Jimmy Carter's U.S. Treasurer from 1977 to 1981, put her signature on all U.S. paper money during those years - the only black woman with that distinction. (From Coinage Magazine, Signs of Progress by Jon Blackwell, July 2009)
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Fact: One remedy for the silver crisis of 1851, was a coin with an unusual denomination. This coin, the silver 3 cent piece was later called a "trime" by Mint Director James Snowden, although the public took to calling the tiny coin a "fish scale." Made from an alloy that was only 75% silver, the trime was also first subsidiary coin in Mint history, meaning it was intrinsically worth less than face value. (From: Coinage Magazine, Coin Capsule: 1852 by Jon Blackwell, July 2009)
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