THE PLANCHET
Issue 482

A pu b li cati o n of th e
I nd i anap oli s C oi n C lu b

May 2007The Meetings of the Indianapolis Coin Club are held the fourth Monday of each month at
the Nora Library at 8625 Guilford Avenue in Indianapolis, Indiana. The Meetings consistof a business session, an intermission, educational program, and a numismatic auction.
Doors open at 6:00pm, meeting will begin at 7:00pm.

PLEASE NOTE: The next meeting will be on
the third Monday due to Memorial Day.
The next meeting will beMonday,May 21st, 2007!
Fake 1804 Cent from PCGS Slab
They made a good choice for thecoin to alter. The S-260 is very
similar but there are a few obvious
differences. The hair wave below
the R in LIBERTY is below theupright on the S-260 but centered
below the R on the genuine 1804.
On the reverse the gap between theends of the wreath branches is below the serif of the S on the S-260and below the serif on the E on the1804. Finally the berry right of theE in ONE is at the top of the E on
S-260 and in the middle of the Eon the genuine 1804. The genuine
1804 also comes without the obv.
and rev. cuds, so they can only be
used to indicate authenticity if they
are present. Their absence does
not mean it is questionable.

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$$$$ “ALWAYS BUYING” $$$$
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(317) 852-8458

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

Jim Fuson
Retired Teacher & Coach
R.O.M.A. COIN

Collector of old U.S. Coins
And old Sports Cards
Also have some coins and cards for sale5795 E. Co. Rd. 350 S., Plainfield, IN 46168
ICC & ANA
(317) 839-5178

Specializing in U.S. RARE COINSORVA (ORV) DETRICK
Professional Numismatist

PO Box 267
Donnelsville, Ohio
45319-0267
Phone: 937-882-6730
Cell #: 937-284-0412
E-mail: Romacoin@aol.com

Advertise in the Indianapolis Coin Club Newsletter! The cost is only $35.00 fora business card size ad for 12 issues!

The 2007 Indianapolis Coin Club
Officers and Board Members
President
Mark Eberhardt
Vice-President
Jim Roehrdanz
Secretary
Vinton Dove
Treasurer
Karl Kreck
EditorMark Eberhardt(fubacoin@aol.com) ph. (317) 837-5682
Past President
Sgt-at-Arms
Board Member 2007-2008
Board Member 2007-2008
Board Member 2007-2008
Board Member 2006-2007
Board Member 2006-2007
Board Member 2006-2007

Vinton Dove
Jim Warden
Dave Reid
Bob Bettcher
James Held
Jim Fuson
Charles AlberOpen

The Monthly Planchet is the official publication of theIndianapolis 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
Fake 1804 Cent

-CoverAdvertisers-Page 2Kennedy Half Dollar -Page 3

Secretary’s Report -Page 4

Area Coin Shows-Page 5

Treasurer’s Report -Page 5

Ed. Prog. For May
Classified Ads

The Monthly Planchet, May 2007

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Page 5

Page 2KENNEDY HALF DOLLAR 1964
byMichael Schmidt

When President Kennedy was assassinated on November 22nd 1963,
measures were almost immediately begun for the commemoration of the fallen
President on the coinage. On November 25th when Chief Engraver Gilroy Roberts
was notified to begin work on the new design the denomination had not yet been
decided on. It was suggested that he use an adaptation of the Presidential Seal forthe rev. On November 27th, he was informed that he should use the bust from theInaugural medal for the obv so that the design could be prepared as quickly as possible. At this point it wasalso decided that the new coin would be the half dollar. The half dollar was chosen because they wanted a larger size coin and Mrs. Kennedy did not think it would be appropriate for her husband to replace Washington on
the quarter. (A good argument for not having used presidents in the first place. No one wanted to be the person
who bumps Washington.) At that time the dollar was not in production and there were no plans then to reintroduce it. No matter what coin was chosen, except the cent or five cent which were never even considered, legislation would have to be approved by Congress. But with the mood of the country, this was not considered to bea major obstacle. Speed was of the essence though, because they wanted to introduce the coin as close to thebeginning of the new year as possible without having to continue the old design. (There was a coin shortage
going on and they did not want to have an extended period of non-production of a coin, or a brief production of
the old design which would encourage hoarding.)
Chief Engraver Roberts returned to the original models for the Inaugural medal and reduced them tocoin size using two stages. This allowed him to reduced the relief of the bust without distorting it as would
have occurred if he had made the reduction and relief change in a single step. This would also turn out to bebeneficial later.
On December 13th the first trial dies were finished and impressions were taken. These were reviewed
by the Treasury officials on the 15th and by Mrs. Kennedy on the 17th. They were approved with the provisionthat the part in Kennedy’s hair should be de-emphasized. Modifications were made to the first inaugural medal
reduction and a new coin sized reduction was made. New dies were finished , trials were struck and Roberts
flew to Florida on Dec 27th to get Mrs. Kennedy’s approval which was granted.. In the meantime Congress had
been busy with the legislation and the bill for the Kennedy half dollar was approved on Dec 30th and immediately signed into law by President Johnson.
Now came the headache of reproducing the dies and getting them into production. No one was kidding
themselves that this would be easy. A die that can satisfactorily strike up a couple trial pieces may not be ableto do production runs without further small modifications. The first proof dies were delivered on Jan 2nd 1964
and production of proofs began.
Even at the slower speed and higher pressure that proof coins were stuck at, it was soon seen that further modifications would have to be made. These early proof coins are now eagerly collected by specialists ofKennedy halves. They are known as “Accented Hair” coins because the hair lines above the ear are moredeeply incised and shaped a little differently than the modified design. Only about the first 100,000 proofs areof the AH type.
On January 30th. business strike production began at Denver, and in Philadelphia during the followingweek. On February 11th striking ceremonies were held at both mints and the first shipments of 26 million coins
to the Federal Reserve began on March 5th.
But the government had badly miscalculated on this coin. Kennedy had been a very popular President.
Young, vibrant, handsome, and with his attractive wife and family it gave the country a
new “era of good feelings”. Then, to see him assassinated live before their eyes on
television. Everyone wanted a memento of the man, and this half dollar would be it.
The initial mintage just disappeared. Well the Mint had the answer to that, and production was increased. But no matter how many were made, it didn’t seem to be enough.
The “I love Kennedy” phenomenon was not just in the US, it was global. Half dollar
production could not make a dent in this kind of demand. And it was about to get evenworse. (Story Continues on page 5)
The Monthly Planchet, May 2007

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April 23, 2007 Minutes of the ICC MeetingThe meeting was called to order at 7:00 PM by President Mark Eberhardt. 32 members
signed the attendance book. For the second month in a row, there were no visitors to introduce.
The Secretary’s report and the Treasurer’s report were read and accepted.
Old Business – The President urged the members to take advantage of the $1.00 per month three-line classified
ad in the Planchet.
He then announced that the expenditures for Coin Week exceeded the income and the budgeted net expenditures, but he would make up the difference by taking money out of the “Discretionary Account” (DA) for 2007.
There is still money in the DA, even after covering the shortfall in the Coin Week account.
Mark reminded the members that the Club must leave the library building by 8:50 PM, so he would again be
moving the progress of the meeting as quickly as possible.
He announced that the Editor’s position and one Board member’s position were still unfilled, and again, there
were no volunteers.
New Business – It was reported that the Library had informed the Club that if we “exchanged money” at ourmeeting, we would lose our “Not for Profit” status as far as being exempt from paying rent. The rent is $53.00
per month. There was a long discussion about where to hold the meetings if we vacated the Nora Library. Mike
White proposed that the club have a “rent donation cup” at the entrance, and members and guests could donate
as they saw fit. President, Mark E. stated that any donations would be welcomed, but a donation cup will not beput out. At the end of the discussion, it was concluded that virtually all of the members present liked the Libraryas a meeting place. We also agreed that the dealer setup, the 50/50 drawing, and the auction were a vital part ofour meeting. With the 50/50 drawing, and the proceeds from donated items in the auction, we would probably
be able to raise enough money to pay the Library its demands. So Mark announced that even though we wouldcontinue to look for another meeting location, we would continue to meet at Nora Library, at least in the shortterm.
Coin Week activities were reported by many of the members present. The bags of old coins seemed to be an
excellent idea that everyone enjoyed, and many members reported that they even gave coins away, as well as
spending them. Mark displayed a copy of the Hendricks County Flyer, which had a front page article about
Coin Week and the Club’s activities, including color pictures of coins and Mike White. Mike was in charge of
publicity, and obviously, he was very effective. After the stories, Mark thanked the Coin Week committee,
which consisted of Jim Held, Don King, Tom Ferverda, & Mike White. Mark asked the members if they would
be willing to spend $7.50 for a $5.00 (face value) bag next year, and most people indicated that would be okaywith them.
Mark then announced that the fourth Monday of next month is Memorial Day and reminded the members that the Club meeting would be on the third Monday, May 21.
The Educational Program was presented by the Club’s Sgt-at-Arms, Jim Warden. The subject was “The Loreof Carson City.” Jim had obviously done extensive research into the Carson City mint and the political and economic climate of the 1870’s through the 1890’s. His presentation included much about the Mint and the goldand silver discoveries in the Virginia City and Carson City areas. He told us the story of the “Comstock Lode”
and Henry Comstock, for whom the ore discovery was named. Jim admitted to his long-time keen interest inthat period of our nation’s history and the activities in and around Carson City. His display included an 1870CC Seated Dollar, which was an example of the first coin minted by the Carson City mint. He also displayed an1893-CC Silver dollar and an 1893-CC $20 Gold piece. Both were examples of the last coins made at CarsonCity. Jim’s presentation was both interesting and informative, and his passion for the subject was captivating.
After the break, the 50/50 drawing was held, and Bob Bettcher was the winner.
President Eberhardt then ran an exciting auction, and most of the lots were sold. The auction included several
lots donated by members, with the proceeds going to the Club.
The club adjourned at 8:35 PM.
Vinton Dove, Secretary
The Monthly Planchet, May 2007

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Page 4

Indianapolis Coin Club
Treasurer's Report April 2007
Income:Received from 50/50
Jim Fuson add newsletter
Three line adds Charles Albert
Donation to Auction$ 39.00$ 35.00$ 6.00$ 9.00Total$ 89.00

Expenses:
Mark Eberhardt Check # 1392
Newsletter Postage
Newsletter Printing
WA-D Quarters
Vinton Dove Check # 1391
1000 Membership cards
Domain Name renewed$ 72.46$ 27.63

Total$ 155.39

This would have to change!
$ 21.06$ 20.74$ 13.50

March Checkbook Balance: $ 2,454.13
April Checkbook Balance:$ 2,387.74
I.C.C. CD Balance:(Kennedy Story from page 3) Like the dimeand quarter, the half dollar was a 90% silver coin.
And in 1964 the world market price for silver went
over $1.29 per oz, and it seemed poised to continueeven higher. But at $1.29 the silver in the US coinage was now worth more than its face value. As silver continued to rise, another factor of demand forthe half dollar appeared, the speculator who wanted
to acquire large quantities of coins either for melting, or to put aside in anticipation of later, greater
profits. Now, no matter how many half dollars weremade it would never be enough, and the government
was taking a financial loss on every one of them.

Coin Shows
May 19thJasper Coin ShowDubois County Museum
2704 N. Newton St. (US231)
Hours 9am – 4pm

May 18 – 20

Ohio State Coin Show
300 West Broad Street
Columbus OH

May 20thLafayette Coins Show
Tippecanoe County Fairgrounds
1401 Teal Road.
Lafayette In. Hours: 9am – 4pm

June 10th

71st Street Coin Show
Indianapolis, IN K of C Hall
2100 East 71st Street off Keystone
Hours: 9am - 3:45pm$ 18,007.03

Respectfully Submitted,
Karl Kreck

Classified Section:
Wanted - Wooden Nickels,
elongated coins, & Mardi
Gras Tokens. Call Charles:
317-856-4553

Your ad could be here forjust $1.00 a month

May’s Program“Wooden Nickels”
By…..
Charles Alber

Note from the President
Just a couple of things I would like tobring up. From what I heard from themembers of the club, they really enjoyed spending the obsolete coins during coin week. So we will try it again
next year, but see if we can make it bigger and better. Thanks to all of you formaking it happen. Secondly, for now it
looks like we will be staying at the Nora
Library. So I hope to see you soon !

The Monthly Planchet, May 2007

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