The Planchet
A Publication of theIndianapolis Coin Club
August 2008 Issue 496

The next meeting will be Monday, August
25th 2008
The Meetings of the Indianapolis Coin Club are held
the fourth Monday of each month at theNorthside Knights of Columbus
2100 E. 71st Street in Indianapolis, Indiana.
The Meetings consist of a business session, an intermission, educational program,and a numismatic auction. Doors open at 6:00pm, meeting will begin at 7:00pm.

August is exhibit night! We are excited to see yourexhibits!
2008 Meeting Dates:
Aug. 25th
Sept. 22ndOct. 27th
Nov. 24th
December is our Banquet
and there is no meeting$$$$ “ALWAYS BUYING” $$$$

VINTON G. DOVE

PAYING TOP PRICES FOR ALL U.S.
COINS

Certified Public Accountant
Collecting U.S. Coins Since 1952

DON’T SELL WITHOUT GETTING OUR OFFER!!!

LARRY HYLTONBROWNSBURG, IN

ANA, ISNA-LM, CSNS-LM 443 Wellington Road(317) 852-8458

Indianapolis, IN 46260(317) 257-1906
Fax( 317) 257-2220

Jim Fuson
Retired Teacher & Coach
ADVERTISE IN THE ICC NEWSLETTER!
Collector of old U.S. Coins
And old Sports Cards
Also have some coins and cards for sale$35 a year!

5795 E. Co. Rd. 350 S., Plainfield, IN 46168
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The Monthly Planchet is the official publication of the Indianapolis
Coin Club. It is published monthly in Indianapolis, Indiana. All
inquiries should be sent to ICC, P.O. Box 2897, Indianapolis, Indiana, 46206.

Table Of Contents
The 2008 Indianapolis Coin Club
Officers and Board Members
Letter From the President

President
Vice-President
Secretary
Treasurer
EditorPast President
Sgt-at-Arms
Board Member 2007-2008
Board Member 2007-2008
Board Member 2007-2008
Board Member 2008-2009
Board Member 2008-2009
Board Member 2008-2009

Mark Eberhardt
Jim Roehrdanz
Vinton Dove
Karl Kreck
Matt Dinger
Vinton Dove
Jim Warden
Dave Reid
Bob Bettcher
James Held
Jim Fuson
Charles Alber
Don King

Advertisers
Steel Cents
Treasurer's Report
Secretarys Report

Page 1Page 2
Page 3
Page 5
Page 6MORGAN DOLLARS
1878 – 1890
The Bland – Allison years
Continued from JulyThe reverse shows an eagle with wings spread and wingtips uplifted.and extending
nearly to the rim. The eagle holds the traditional olive branch in its right talon and the arrows of defense in its left. (viewers left and right respectively.) Around the eagle up to thewings is an open wreath of laurel. UNITED STATES OF AMERICA is around the upper rim
with the wingtips dividing it after America and before States. Above the eagles head is themotto In God We Trust in, for some reason, Old English script. The denomination is at thebottom of the coin and the mintmark, if any, will be found below the bow of the laurel
wreath. Production began in Philadelphia on March 12th 1878 but only lasted until the 25thand some 699,000 coins before coinage was stopped because of complaints over an“error” in the design. It was noted that the eagle had eight feathers in its tail and that all of
the previous eagles used on US coins had had an odd number of tail feathers. So one of
the earlier pattern dies that had seven tail feathers was hubbed over the eight tail feather
dies that had not been hardened yet. These corrected dies were used from March 25th toApril 4th to strike another 544,000 Philadelphia coins.
By the time these corrected dies had been used up, the mint had finished work on a
new reverse die with seven tail feathers. This is known as the second reverse and in addition to the seven tail feathers it also has a concave breast to the eagle and the top edge ofthe top feather on the arrows held in the eagle’s talon is parallel to the arrow shaft. These
new dies were used both in Philadelphia from April 4th thru June 28th and were shipped out
to the western branch mints. While it was used in Philadelphia in 1878 only it was used in
San Francisco in 1878 and 1879, and in Carson City in 1878 and 1880. This second reverse was never used in New Orleans. After June 28th a third reverse die type was created.
This new reverse now has a convex breast and the top edge of the feather now slants
down sharply instead of being parallel. This third reverse type was used at Philadelphia forthe rest of 1878 and at all of the mints beginning in 1879 and through the end of the Morgan dollar series in 1921. The large amount of silver coming in meant a lot of coins and alot of dies, but apparently the die shop did too good a job because at the end of 1879 there
were a fair number of obv dies left over. These dies were overdated in 1880. Some wereused in Philadelphia and the rest were shipped out to all the branch mints. So for 1880
there are overdates from all of the mints with several different overdated dies being used in
Philadelphia, New Orleans, and Carson City. San Francisco only had one overdate Most ofthe coins struck under the Bland – Allison Act were produced in Philadelphia and San Francisco but since they were not needed for commerce, most of them were struck and thenshipped to the Treasury vaults were they were used as backing for silver certificates. For
this reason most of the pre- 1890 silver dollars are readily available today. But they are notalways available in all conditions. Some coins such as the 1884-S were apparently released
into circulation instead of going to the vaults. Today they are available at only a minor premium in all grades except at the Uncirculated level. There are a few though from some of
the low mintage issues that are costly in all grades, most notably the 1889-CC dollars. This
was a low mintage coin that never made it to the vaults.
The purchase of all that silver pumped a large amount of money into circulation
which resulted in a rising economy and as a corollary a rising inflation rate as well. One
thing it was unable to do though was to provide a stable price support for all of the silver
coming out of the western mines. Even with all the purchases the price of silver continuedto fall. This would result in a new silver purchase act in 1890.Next time we will look at thatact and the fallout from it that almost destroyed the US economy.

Indianapolis Coin Club
Treasurer's Report July 2008
Income:N o n e reported
Expenses:
6/25 2 rolls raffle tickets chck.#1411$ 13.91
8/06 Western Reserve club insurance chck.#1412 $ 250.00
Total
June Checkbook Balance
July Checkbook Balance
I.C.C. CD Balance
Respectfully submitted,Karl Kreck$ 263.91$ 2,750.98$ 2,487.07$ 19,075.52

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