The Planchet
Special Edition #3

2019
ISNA SHOW PROGRAM
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Th e Pl an ch et Dec 20 19

ISNA An n u al Sh ow ~ M ar r iot t East Con ven t ion Cen t er ,In dian apolis, IN
Table #100
andMonthly at the 71st Street Coin Show
Knights of Columbus Hall
Indianapolis, Indiana2

Th e Pl an ch et Dec 20 19

WelcometoIndy
Indianapolis is a great town. It has a vibrant social scene that
includes dining, entertainment and sports. Of course theIndianapolis Motor Speedway is part of our culture and the Colts
always keep things exciting but there is a lot more to the city. While
you are here for our annual show check out some of the otherthings that make Indianapolis different.

Cover photo by tpsdave/12019 -https://pixabay.com/en/indianapolisindiana-city-urban-1872529/, CC0,
https://commons.wikimedia.org/w/index.php?curid=61089604

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FEATURES:Show Hours & Info Page 5
Message from the President of the ICC Page 6
Indianapolis's Female Civil War Merchantby Matt Dinger Page 8
Federal Reserve Notes Revealedby Jeffrey R. Paunicka Page13
Paper Money Counterfeit Detection 103
by Joseph E. Boling Page 19
Dealer List Page 26
Bourse Map Page 27
A M essage f r om t h e ISNA Pr esiden t
I want to take a moment to thank everyone for attending the61st annual ISNA show. It is a true pleasure for me to be your hostfor the show.
There is a lot of work that goes on behind the scenes to makethis show a reality year after year. If you love your hobby as much as Ido, consider volunteering. We can always use both physical help andfresh ideas. If you can't work at the show, consider submitting anarticle for the program or donate to the youth auction. There are an
unlimited amount of ways that you can help out.
Our youth auction is back again this year. This is always apopular event. We always have a good turn out with lots of freenumismatic material donated by our members and dealers. If you
have any aspiring young collectors in your life consider bringing themalong.
Respectfully,

Michael White,President4Th e Pl an ch et Dec 20 19

Th e 61st An n u al I.S.N.A.
Coin Sh ow
Decem ber 6t h & 7t h , 2019
In dian apolis M ar r iot t East Hot el & Con ven t ion Cen t er
Liber t y Hall
7202 East 21st St r eet
In dian apolis, In dian a 46219?

FREE adm ission
FREE par k in g
FREE you t h au ct ion
Door pr ize dr aw in g
Raf f le pr ize dr aw in gs
24/ 7 secu r it y pr ovided by IM PD of f icer s

Pu blic h ou r s: Fr iday 10:00 a.m . - 6:00 p.m . (on e w ay t r af f ic begin s
at 5:30 p.m .)Sat u r day 10:00 a.m .- 5:00 p.m . (on e w ay t r af f ic begin s at 4:30
p.m ./ r af f les an d door pr ize dr aw in g @ 4pm )You t h au ct ion : Sat u r day ? 11:00 am

Dealer / Ear ly bir d h ou r s: Th u r sday - 12:00 p.m . - 6:00 p.m . ?
Dealer / Ear ly bir d h ou r s: Fr iday - 9:00 a.m . - 6:00 p.m . (on e w ay
t r af f ic begin s at 5:30 p.m .) Dealer / Ear ly bir d h ou r s: Sat u r day 9:00 a.m . - 5:00 p.m . (on e w ay t r af f ic begin s at 4:30 p.m .)5

Th e Pl an ch et Dec 20 19
A M essage f r om t h e Pr esiden t of t h e In dian apolis Coin Clu b
As president of the Indianapolis Coin Club (ICC), I want towelcome you to the 61st annual Indiana State Numismatic
Association (ISNA) Coin Show. Members of the ICC are pleased tomake this Special Edition of The Planchet available to all ISNA
attendees at this year 's show, which is the official ICC newsletter. The
ICC hopes you enjoy this year 's coin show and that you will rekindle
existing numismatic relationships, establish new friendships, and findthat special item that has been lingering on your want list for a while.
There are some fine articles in this issue of The Planchet that you
should find informative and enjoyable as well.
There is a very important event at this year 's show, that being
the youth auction that will take place at 11:00 a.m. on Saturday.
Please consider bringing your daughter, son, granddaughter,grandson, or any other youth that you may be acquainted with to thisevent if they have even the slightest interest in coin collecting. By
attending, they will find out what auctions are all about and learn a
bit about collecting as well. The ICC pays special attention to YN's
because, as you know, they are the future of our great hobby. The
ICC's Jerry Lebo Junior Numismatist Award is presented to YN's under
the age of 18 that attend three Club meetings in a five month period,
and who then give a short presentation regarding Mr. Lebo's
contributions to numismatics at a Club meeting. The YN then receives
a complimentary year of membership from the Club, and there is nolimit to the number of YN's that may receive the award in one year.
The ICC is a nonprofit organization whose primary function is
educational in nature and is to promote and educate our members
and non-members regarding the field of numismatics. Established in
1939, the ICC celebrates its 80th anniversary in 2019. We lookforward to many more exciting and productive years in our future.
I invite you to attend one of our club meetings at theNorthside Events & Social Club (formerly the Northside Knights ofColumbus), located at 2100 East 71st Street, just west of Keystone
Avenue, in Indianapolis. The Club meets every third Monday of themonth (except December), at 7 p.m. A favorite pastime of manymembers is to meet in the lounge an hour or two before the meetingfor drinks and/or a meal, and typically engage in lively conversationand often show off their new numismatic purchases or older holdings
from when they first began collecting. The topics of the first threeeducational programs for 2020 at our meetings are found within this6Th e Pl an ch et Dec 20 19
edition of The Planchet.
ICC meetings consist of a business meeting and educationaltalk, followed by a short break. We then have our 50-50 drawing, withhalf of the pot going to the winner and the other half to Club coffers.
Next comes our attendance prize drawing, with the lucky ticketholder
winning a half silver dollar or equivalent which is donated by theeducational speaker or the Club. Attendees need not be a Club
member to participate in the 50-50 or attendance prize drawings.
Our Club auction follows, where members may place items in theauction that they wish to sell. All attendees may bid on auction items,
but only Club members may place items in the auction. Our meetings
usually last 1-1/2 to 2 hours and rarely go past 9 p.m.
On behalf of the ICC, I extend my invitation to you to attend
one (or more) of our meetings during 2020 and consider becoming a
Club member. Dues are just $20.00 per year based on the calendar
year. Our welcoming committee pays special attention to all new
attendees, as we consider all newcomers to be a very valuable
resource and an important part of the Indianapolis numismaticcommunity. Please join us, bring a friend, relative, acquaintance, oryouth, and enjoy the knowledge of our Club members. In return, ourmembers will enjoy the knowledge and experience you bring to ourClub as well!

JimSukup, President

UpcomingMeetingdates oftheIndianapolis Coin ClubJan u ar y 21, 2020
Gary Selig - "Masonic Tokens"
Febr u ar y 18, 2020
Jim Roehrdanz & Jerry Coraz - "Barber Quarters"
M ar ch 18, 2020
Jim Warden - "The New Orleans Mint"7

Th e Pl an ch et Dec 20 19
In dian apolis?s Fem ale Civil War M er ch an t
By M at t Din ger

In Indianapolis?early years, manufactured goods were brought
overland by wagons or along the White River by keelboats and flatboats.
Much of the local produce was not exported to markets outside
Indianapolis until railroads began passing through the city in the 1850?s.
Most of Indianapolis' early merchants set up businesses along Washington
Street, but its first market house was built north of the courthouse in 1833.
Subsequent structures on the site became known as the Indianapolis City
Market. One of these early Indianapolis merchants was the unlikely Mrs.
Anna Thomson and her son William. Their mercantile was located at 7 N.
Pennsylvania Street in downtown Indianapolis. What makes Mrs. Thomson
and her son so interesting is that in 1863 she became one of the very few
female merchants to issue civil war tokens anywhere in the nation. Little is
known about Mrs. Thomson and her son.

These tokens are cataloged as F-460U-3a with rarity 7. They rarely
trade and at auction normally bring several hundred dollars. Even though
little is known about the issuer these interesting tokens come from aunique time in our country?s history.

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Th

Look in g sou t h dow n M er idian St . f r om Cir cle Par k(t oday ?s m on u m en t cir cle) Cir ca 1860?s

An n ou n cem en t
If you have any ISNA historical documents or items and would like todonate them to the club it would be greatly appreciated. In addition
we have club memorabilia, including medals, available for sale.
Please contact the club secretary for more information.
Sharon Bower 443-995-3538
orisnasecretarys@gmail.com

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Tak e a t r ip t o t h e back of t h e r oom an d visit
u s at t able 600.
It 's w or t h t h e w alk .
10

Th e Pl an ch et Dec 20 19$$$$ ?ALWAYS BUYING? $$$$ PAYING TOP PRICESFOR ALL U.S. COINS DON?T SELL WITHOUTGETTING OUR OFFER!!!
LARRY HYLTON BROWNSBURG, IN
ANA, ISNA-LM, CSNS-LM(317) 852-8458
See us at table 208

11Th e Pl an ch et Dec 20 19

INDIANAPOLIS COIN CLUB, INC.
ANA C-131170; CSNS L-600; ISNA LM 243 Serving the Coin
Collectors of the Indianapolis area since 1939
MEMBERSHIP APPLICATION Annual Dues: $20.00 forRegular Membership; $5.00 for Juniors (under 18 years ofage) (Dues apply to the year January 1 through December
31, and are not prorated.)
NAME (first, middle initial, Last)____________________________________________________________
MAILING ADDRESS (INCLUDING ZIP CODE):________________________________________________________________________________________________________________________
Telephone Number:____________________________________________________________
E-Mail Address:____________________________________________________________(None of your information will be distributed, loaned, orotherwise given out to ANYONE, other than members of
the Board of Directors, and only then when necessary.)
Area of numismatic interest: (if any specific area)________________________________________________________________________________________________________________________
Include year of birth for Juniors (_20____)*************************************************FOR OFFICE USE ONLY: Received by _________
Date ______/_______/_______ Cash (____) Check (____)
Check Number (____)
Amount$__________MEMBERSHIP NUMBER:________________
12

Th e Pl an ch et Dec 20 19Feder al Reser ve Not es Revealed
By Jef f r ey R. Pau n ick a

When new collectors approach me at shows they gaze at thearray of notes I have in inventory. At times they look like kids at
Christmas peering in the windows of a candy store, looking for thattasty holiday morsel. But when discussions begin about all the typesof notes. I typically answer them with a brief statement. ?Its all about
how the paper money is backed?. Basically that gets me no where, forthe time being so its time to drill down a bit and take one note at atime. Gold and Silver certificates are very easy to explain andcomprehend, but alas, Federal Reserve notes and Federal Reserve
Bank Notes always leave a bewildered look of ?Ok, now I am lost, but I
should not be?. Never feel bad about this, because you are not alone.
Even I, who been at the currency game for over 50 years, admit it
was at least a half a decade before I finally got a grip on the
differences.
Ban ker s Pan ic
Let's start to explain by going back to the late 1800's and early
1900's. To be specific, the years of 1893 and 1907.
The United States simply stated, had issues. The
Panic of 1893 was a serious economic
depression in the United States that began in1893 and ended in 1897. It deeply affected
every sector of the economy, and produced
political upheaval. The Panic of 1907 ? also
known as the ?1907 Bankers' Panic? or?Knickerbocker Crisis?, was a financial crisis that took
place in the United States over a three-week period
starting in mid-October, when the New York Stock Exchange fellalmost 50% from its peak the previous year.

Jek yl Islan d Secr et M eet in g
In November 1910, President Woodrow Wilson knew little
about banking but made it his mission to tackle financial reform. He
called prominent business leaders for input who included: Nelson

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19Aldrich, A. Piatt Andrew, Henry Davison,
Arthur Shelton, Frank Vanderlip and Paul
Warburg, They meet at the exclusive Jekyl
Island Club, off the coast of Georgia, towrite a plan to reform the nation'sbanking system. The meeting and its
purpose were closely guarded secrets,
and participants did not admit that themeeting occurred until the 1930s. But theplan written on Jekyl Island laid a foundation for what would eventually
be the Federal Reserve System.
In December 1913, Congress ultimately voted to establish adecentralized, central bank of twelve regional Reserve Banks and a
Federal Reserve Board that balanced private and public interests. The
twelve banks opened for business eleven months later on November 16,
1914.

Remember, the United States did not have a central bank since1836 when President Andrew Jackson had its doors closed. I also have to
say Thomas Jefferson was not in favor of a centralized bank since it
conjured up possible concepts of self-interests by the bankers andproblems that existed back in England from which we were trying to
distance ourselves. But excuse my digression, it is a topic worth
discussion at another time.

Red In k Not es
The Federal Reserve said that it would issue money for theUnited States. That's correct, the Federal Reserve is not part of theGovernment but a separate living entity that functions besides theUnited States. This was part of the original design. The notes werebacked by ?value of the United States? or a promise to pay in someterms. The notes were of the large size back then in 1914 and sported14

Th e Pl an ch et Dec 20 19
red seals and serial numbers. Denominations were from $5 to$10,000. This became our regular currency at the time, besides theother backed notes of gold and silver and Legal Tender in circulation.

Blu e In k Con ver sion
When World War I (The Great War) began, merchant trades
were disrupted throughout Europe and it had its effect on us back in
the States. In fact, in one case the red pigments used in the red inks
for printing the Federal Reserve notes originated in Germany. Thus,
supply was terminated. So it was mandated in less than one year we
had to make adjustments in 1914 and the BEP ( Bureau of Engraving
and Printing) changed the red ink to blue. Thus a new set of Federal
Reserve notes emerged.

Feder al Reser ve Ban k Not es (FRBN)At this point I have one more concept to make and I am reallytrying to keep this clear. Consider when the United States had hardtimes and there was a shortage of cash. Remember the 1893 and1907 crises that started this discussion? Besides having the authority
to issue currency to the United States, the Federal Reserve Bank
District Branches were able to issue currency from themselves since
they had their own money to operate on. They were allowed to issue15

Th e Pl an ch et Dec 20 19
up to 80% of the funds they had on deposit with the United States
Treasury under their own name. This was to help inject more cash
into the economy and minimize the runs on banks and the horrific
events of those times. So now we have another type of currency
backed by each of the 12 branches of the Federal Reserve Bank
(Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta,
Chicago, St Louis, Minneapolis, Kansas City, Dallas and San Francisco).

These new stylish notes have become favorites to a wide
number of collectors because of the allegorical figures. Again, thesewere printed in the large sized notes beginning in 1915. The only
stipulation with these notes is that they were supposed to beredeemable from the respective branch of the Federal Reserve. That's
how 3 types of notes emerged within the beginning of the 20th
century.
Acknowledgements to Wilkpedia and Heritage Auctions for images.

About the Author Jeffrey Paunicka is the
President of Insight3, Portage Indiana. He has
been actively involved with currency for over 52
years. He is a member of the Professional
Currency Dealers Association (PCDA) andprovides professional numismatic services. He
holds an MBA from the University of Notre
Dame. He can be reached at (574)315-0238.

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Th e nex t meeti ng w i l l be
M onday, January 20th , 2020
The Meetings of the Indianapolis Coin Club are held
the third Monday of each month at the
Nor t h side Even t s Cen t er
(f or m er ly Kn igh t s of Colu m bu s)
2100 E. 71st St r eet in In dian apolis, In dian a.
The Meetings consist of a business session,educational program, an intermission, and anumismatic auction. Doors open at 6:00 p.m., meeting
will begin at 7:00 p.m.

See Us at Tables 213-21417

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Caliber Coin s
Ray Harp
Kokomo, Indiana765-860-4026
Bu yin g Silver & Gold Coin sLife Member of : I.S.N.S.

C.S.N.A.

See Us at Table 104

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I.S.N.A.

Th e Pl an ch et Dec 20 19

Paper m on ey cou n t er f eit det ect ion 103
Joseph E. Bolin g
In the first two installments of this series we looked at printing
technologies and how they appear under 20x magnification. In this article wewill look at how counterfeiters copy a note or change the value of a notethrough skillful (or maybe not-so-skillful) changes to the printed
denominations.
The most simple way to duplicate a genuine note is with plain
pen-and-ink? hand drawing the design onto nice quality paper. No expensive
equipment or technical skills are needed? just a steady hand and a keen eye.
Figure 1 shows a pair of British WWI-era notes. The original note (at top) was
printed by letterpress. This was an emergency issue, but that is not why such aprimitive technology was used (primitive by security-printing standards). The
British had been using that technology since the middle of the 19th century,
and continued to use it into the 1950s. The only significant security featurethat these notes had was an elaborate watermark (which the counterfeitermade no attempt to copy).
Figure 2 is a close-up photo of the note at the bottom of figure 1? ahand-drawn note. You should be able to see the obvious deficiencies of thetechnique (check the serial number, for instance). The best part of thiscounterfeit is the large signature? a very good rendition. The note must havefooled several people? it is well-circulated. And one of the basic truths aboutcounterfeiting is that only one person has to be fooled? the first one to receive
it. After that the counterfeiter disappears.

Figure 1

Figure 219Th e Pl an ch et Dec 20 18
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Figures 3-6 show another technique for getting over on your fellow
man? raising a note. In this case a genuine note of one denomination has
portions changed to read as a higher denomination. In figure 3 you see twonotes that circulated in China right after WWII. The 2000 yuan note is green,
and the 5000 yuan note steel blue. Other than the colors and counters (theelements that show the denomination), the notes are identical.

Figure 3

Figure 4

Figure 4 shows a raised note below the genuine piece. The
counterfeiter made no attempt to change the color to match the genuine 5000
yuan note. There were so many different kinds of paper circulating at the timethat changing the counters was less likely to draw attention than painting thewhole note in a new shade. Only a single character had to be changed (several
times) ? the numeral ?2? changed to ?5? at the right end of each counter (inFigure 520

Th e Pl an ch et Dec 20 19
four corners and the center on both face and back). In figure 5 you
should be able to see the area around the right-hand character where
ink has been scraped off of the original note and green lines
hand-drawn to hide the damage around the new character. Notice thatthe artist also painted all three characters with white so that they would
appear uniform. Figure 6 shows the back. The work on the corners was
not as skillful as elsewhere, but the note?s users were not likely to bereading the Western numerals in the corners? as Chinese, they would
be reading the counter in the center.

Figure 6
That was a pen-and-ink alteration. Another common alteration
is cut-and-paste. Figures 7-9 show one of those? another Chinese note,raised from one yuan to five yuan. Figure 7 is an example of the original
note. The original counters were carefully removed by shaving the paperaway (making it thinner), then gluing on counters cut off of othernotes? similarly shaved, so that the total paper thickness was not

Figure 721Th e Pl an ch et Dec 20 19changed and the corners looked normal when held to a light, not darker as
they would if the new counters were simply glued over the old ones. Figures 8
and 9 are the raised note. Although the Shanghai 5 yuan note of this period

Figure 8

Figure 9
was brown, not violet, higher denomination counters in the matching color
were possible because the bank used different color sets in different cities,
and several violet five-yuan notes from elsewhere would provide enoughcounters for the operation on the Shanghai note (without destroying theredeemability of the donor notes, if only one or two corners were cut off ofeach one). One might ask ?wouldn?t a user recognize the violet note as a
one-yuan note regardless of the counters applied?? Since the bank?s notes
circulated in other cities, we have to assume that the raised violet note was not
used in Shanghai, but in some other location where the color of a Shanghai
five was not well-known. Eventually the rigors of circulation caused a counterto fall off of the face, and another one to fall off of the back, and the note?strue nature was revealed.

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Raising US notes is much less complicated, since all
denominations have the same black face and green back. Figures 10-11
show the simplest form of raising a US note? cutting off the ends andtaping on the ends of two other notes. Such a raised note would have to
be included in a multi-note tender, so that the receiving clerk would lookonly at the counters on the corners and not at the portrait or the big
ONE on the back. But such alterations are effective.

Figure 10

Figure 11
I am sure I have used all the space the editor wants to allow, so
we will take up other ways of evading security features (such as
watermarks and security threads) in my next offering. Look for me in
2020

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I.S.N.A. BOARD M EM BERS
President : Michael White
Vice President : Vinton Dove
Past President : Vinton DoveCorresponding Secret ary:
Sharon Bower
Recording Secret ary: Allen Dove
Treasurer: Roger Plate

Club Contact Information:

Edit or: Christopher Bower

Indiana State Numismatic
Association
PO Box 36236
Indianapolis, IN 46236

Sergeant -at -Arms: Don King Sr.
Curat or-Hist orian: Ivan LephartDist rict Governors:
Christopher Bower

Club President
Michael White
Phone: 317-446-1411
Email: h_d_mike@att.net

Mike Fowler
Jim Fuson
Chad Evans
Steve Ball
Lou Brummett
Brad Lisembee24Th e Pl an ch et Dec 20 19

I .C.C.
Af f i l i at i on s
American Numismatic Association
Indiana State Numismatic Association
Central States Numismatic Society

Advertise in the Indianapolis Coin Club
Newsletter! The cost is only $35.00 for abusiness card size ad for 11 issues! (Doesnot include special editions)
The 2020 Indianapolis Coin Club Officers andBoard Members:
President - Sharon Bower
Vice-President- Andy Nahrwold
Secretary- Gary Selig
Treasurer - Gerald Coraz
Editor- Christopher Bower
Past President- Jim Sukup
Sgt-at-Arms- Jim Warden
Board Member 2020-2021 - Vinton DoveBoard Member 2020-2021 - Paul Vaughn
Board Member 2020-2021 - Jim Roehrdanz
Board Member 2019-2020 - Donn Wray
Board Member 2019-2020 - Jeff Bercovitz
Board Member 2019-2020 - Steve Howery
The Monthly Planchet is the official
publication of the Indianapolis Coin Club. All
inquiries should be sent to:Gary Selig/ICC, 1416 N Pennsylvania St.,
Indianapolis, Indiana, 46202

25

Th e Pl an ch et Dec 20 19

Dealers by Table Number
100 ANACS
101 Smith's Coins
102 The Cheap Slab Store
103 Larry Tekamp Rare Coins
104 Caliber Coins
105 Centralia Coin
106 Fairfield Rare Coins
107 RARCOA
108 Dennis King
109 Specialty Stamp & Coin
110 Scotsman Coin
111 David Johnson
112 Tom Reynolds
113 Dalton Gold & Silver
114 J. J. Teaparty
200, 300 Coin Zone
201 Gold Link
202 Madison Coin & Currency
203 Working Man's Rare Coins
204 Richard Gibson
205 Chris Hansen
206-7 Jay King
208 Larry Hylton
209 Keplinger World Coins
210 S&S Asscociates
211 Al Boulanger
212 ACE Coins
213-4 FUBA Coins
215 Armstrong Coins
216 West Coast Coins
301 Paul Padget
302-3 T JCoins
304 The Gold and Silver Vault
305 Larry Melton Paper & Coins
308 Sergio Sanchez Rare Coins
309 Nickel & Dime Coins

310-1 Constitution Coin
312 Heartland Coins
313 John Schuch
314 Wholesale Numismatics
315 Southern Precious Metals
316 Buried Treasures
400 Collectors World
401 Coldwater Coin
402 Pristine Coins
403 Brian Raines
404 Sam Kappel
406 Darrell's Coins
407-8 Texican Coin Wholesalers
409 Coleman Foster
410 Jonathan Kern
411 Stateline Coin Exchange
412 Honor Coin
413-5 David Nazzaro, Inc
416 Meridian Coins, Inc
500 Costas Coins
501 Jimmy Crawford Rare Coins502-3 Paul Cunningham
504 Ken Byrd Coin & Currency
505 Peter 's Coins
506 ANA
507 Indianapolis Coin Club508
509-10 Tim Vest World Coins
511 Bob Bennett
512 NKA Coins
513 Broadway Jewelry & Rare
Coin
514
515
516 Dale Winter600-1 Lost Dutchman
604 Monroe Currency26

Th e Pl an ch et Dec 20 19

Bourse Map27

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