T he P lanchet- I . C. C. OCTOBER, 2019

Issue# 604

A.N.A. C-131170 - I.S.N.A. LM 243 - C.S.N.S. L-600

Established 1939 and celebrating over 75 years of service
to the coin collector.

The next meeting will be M onday, October 21st , 2019
Meetings of the Indianapolis Coin Club are held the third Monday of each month at
the Northside Events and Social Club 2100 E. 71st Street in Indianapolis, Indiana.
The Meetings consist of a business session, educational program, an intermission, and anumismatic auction.
Doors open at 6:00pm, meeting will begin at 7:00pm.
1

OCTOBER, 2019

Issue# 604

A Few Words From Your Pr esident
I hope that you received the email from our Editor last month that our Treasurer is not running forreelection for that position due to conflicts with other obligations. Mark Eberhardt has been ourTreasurer for many years and will certainly be missed by the Club in that capacity. Please give him awork of thanks at one of our remaining meetings this year for all of the work he has put into thatrole. Mark will help with transitioning those duties to another Club member, time permitting.
So far we have had no response from any of our members regarding interest in assuming that
position. I would ask you to PLEASE consider taking on the duties of Treasurer for our Club. Dutiesof our Treasurer are found in our Constitution and Bylaws and are reproduced here.
The Treasurer shall:
1. Receive and deposit all funds paid to the club, prepare a monthly statement and report same tothe club.
2. Invest funds in accordance with directions from the Board of Directors.
3. Payout money for legitimate expenses incurred by members, except that any expenditure inexcess of $100.00 shall be approved by the Board of Directors.
4. File necessary tax and information returns.
5. Act as resident agent for the corporation, if so designated by the Board of Directors.
6. Prepare, with the President, an annual budget for approval by the Board of Directors no later
than December 31 of the preceding year.
In addition, Mark put together these informal notes regarding the duties of Treasurer:* The Treasurer is responsible for the Accounting Aspects of the Club.
* The Treasurer maintains and balances the checkbook, sends a check once a month to the Knights
of Columbus for room rent, and there are two insurance payments that are mailed once a year.
* The Treasurer deposits the monthly income from the monthly meetings, and handles
miscellaneous other little expenses. There are two CD's that need to be managed upon maturity,and he/she is responsible for putting together a yearly budget and reporting the monthly budget in
The Planchet.
* Mark indicates that on average he spends about 1-3 hours a month on such duties, and that
includes travel time to and from meetings and the bank.

2

OCTOBER, 2019

Issue# 604

I hope that you will seriously consider taking on the responsibility of the Treasurer 's duties in theClub. Remember, this is YOUR Club, and with that position comes a spot on the Board of Directors.
Thanks in advance for thinking about this opportunity that is available to you.
The slate for our Board of Directors for 2020 will be announced at tonight's meeting. As of the time
this is being written, which is subject to change, the slate is as follows:
President: Andy Nahrwold; Vice-President: Vinton Dove; Secretary: Gary Selig; Treasurer: Open;
Editor: Chris Bower; Sargent-at-Arms: Jim Warden; Board Members for 2020-2021: Gerald Coraz,
Paul Vaughn, and Jim Roehrdanz. Any other nominations for the Board will be accepted up until our
October meeting gets underway on Monday evening.
Our educational program this month is being given by Matt Dinger, owner of Lost Dutchman Rare
Coins, who most members are familiar with. Matt was President of the Club when I joined in 2009.
Although he has been quite busy and has been unable to attend many Club meetings recently, hestill has been a big part of our Club, from until recently hosting our Website at no cost to supplying
us with our Exhibit Night prizes at his cost or even below his cost, among others things. I lookforward to his talk, and I am sure that you do as well.
I look forward to seeing you at tonight's meeting along with any guests that you may bring along!

Jim Su k u p, Pr esiden t

3

OCTOBER, 2019

Issue# 604

INDIANAPOLISCOINCLUBEDUCATIONAL PROGRAM
This month?s Educational Program will be:'Cleaning/Conser vation'byM att Dinger
Next Month?s Meeting Date & Program:"Annual State of the Hobby Address"by Mark Eberhardt
Monday October 21st, 2019

As hopefully all of our members know, the ICC has a library that is free to use for it's members. The
current list of library books is available on the ICC website. Jim Sukup usually brings a few books
each month but we want to make sure that everyone is aware of the books that are available.
Email Jim prior to the meeting and he will bring your selection if it is available.

jsukup@rpiratings.com

4

OCTOBER, 2019

Issue# 604

Can We ?Collect? Just Two Double Eagles?
By Mark Benvenuto

There is no two ways about it, a collection of $20 gold pieces would be a fantastic
achievement or accomplishment. They?re big, they?re gorgeous, they?re pieces of United States
history ? and they?re expensive. And that last bit is the entire problem when it comes to making any
sort of collection of double eagles. So, with hefty prices looking back at us, how could we go about
making the barest of collections of these big guys? How could we get just one Coronet Head double
eagle, and one St. Gaudens double eagle? Two might not be much, but that?s a lot better thannothing.
The double eagle design that reigned for the longest period of time is undoubtedly theCoronet Head. Issued for circulation from 1850 all the way to 1907, there are a lot of years and mint
marks within this series from which we might choose. It didn?t even take a few years to get to a point
where the Mint had made it to the one million mark, as the year 1850 saw 1.1 million come out of
the main facility in Philadelphia. Even though a million of a coin may not have made it very common
at the time it was issued ? the 1850 U.S. Census said for instance there were over 23 million people
in the country at that time ? a million of any coin is generally enough to satisfy the collector market
today. With that in mind, and a quick look through any of the standard references, we find that
there are thirty-eight dates and mint marks that certainly qualify as common. The biggest dog in thearena is the 1904, with 6.2 million minted, followed closely by the 1904-S with 5.1 to its official tally.

5

OCTOBER, 2019

Issue# 604

Since each of these $20 gold pieces have 0.9675 ounces of gold in them, when gold trades at$1,500 per ounce, each is worth a minimum of $1,451.25, not that we?ll ever find any at that price.
It?s a fair bet to say that $2,000 is probably about what we?ll need to pony up for one. That seems
pretty high, but we could do some math and break this down. It?s basically $38.50 per week, if wewish to save up for one year. Is there some way we could save that? Could we not get fast food as
much, perhaps not stop at a shop for coffee as often, maybe even hold off on buying some othercoins for our collection? It might be a bit of a change of lifestyle, but it?s most likely doable.
The only other piece we?d have to add to our current list-of-one will be a St. Gaudens $20
double eagle. Issued from 1907 up to 1933, the St. Gaudens double eagles often get touted as oneof the most beautiful coins in U.S. history, and maybe in world history. We?ll leave the major league
debates on this subject to the art experts. As well though, gallons of ink seem to have been spilledover the status and whereabouts of the 1933 issue, the final year of the series. And plenty has been
written about the earliest pieces of 1907, and how high their high reliefs or ultra-high reliefs actuallyare. Amidst all this hype, a person can be forgiven for thinking the entire series is in some way off
limits. To quote someone famous, ?Nothing could be further from the truth!?

Scanning through the major reference books, we find that there are twenty dates and mint
marks within the St. Gaudens series that went over the just mentioned one-million mark. And the
grand prize winner among this crew has to the 1928, with just over 8.8 million. By any stretch, that?sa lot of double eagles.
The price tag we mentioned ought to hold for the St. Gaudens pieces as well. But let?s add anote here, not so much of caution, but of preparedness. We may need less than $2K for buy-in for
either of these coins; but we use this figure because the ups and downs of both the precious metals
markets as well as of classic numismatic gold means that the price may jump, especially if we aretaking the $38.50-per-week approach to saving up for each of these coins. It?s tough to figure out
just how and when the price of gold will move. Plus, if we are satisfied with a raw coin that looks to
be uncirculated, as opposed to a piece that has been slabbed by one of the major third party
grading services, we might find that the price is a bit lower. In short, there are a few different factorsthat go into buying the biggest gold coins our nation ever produced for circulation. Many of us have
6

OCTOBER, 2019

Issue# 604

probably not looked seriously at double eagles as collectible coins, figuring that they are above ourreach. But now it might, just maybe, seem like a single example of each of these big guys is not
impossible. A collection of two may at first not seem like much. But this would indeed be a dynamic
duo, one that could become the crown jewels of any collection.
Images courtesy of NGC.com

above image courtesy of coinsonline.com

7

OCTOBER, 2019

Issue# 604

October 2019 Auction Lotsfor 10/21/2019
Description

Grade

Additional Notes

Starting Price

There were no items sent in thismonth. Remember this is for you. Any
member can put items in the auction and havethem advertised in the Planchet.

I'm sure we will still have the diverse auction lotsthat we normally do.

Your items could be listed right here. It is free for members to put items in
the auction and have them advertised in the Planchet.
Edit or ?s Not e:
The views expressed in any article aresolely those of the author and do not
represent the views of the ICC, nor does
the ICC endorse any advertiser.

PLEASE try to have correct change, or at least use
smaller bills, to pay for auction items that you win.
Especially troublesome are $50's and $100's whichquickly drain the change that is available. That change ispersonal money, and it will be greatly appreciated by thechanger and auction assistants to make giving changeeasier and more efficient.

8

OCTOBER, 2019

Issue# 604

An n ou n cem en t s:
It's not too early to think about December. The ICC will once again be provided a free club
table at this years ISNA show. If you are interested in helping to staff the table please see
Jim or Andy. It is a very small time commitment.
There is a gentleman from the Derby City Coin Club in Louisville, KY, that is interested in
Siam Porcelain Gaming Tokens. If anyone is interested in contacting him, please contact me
at cowboyfan90009@yahoo.com. - Sharon Bower$$$$ ?ALWAYS BUYING? $$$$PAYING TOP PRICES FOR ALL
U.S. COINSDON?T SELL WITHOUT GETTING OUR OFFER!!!

LARRY HYLTONBROWNSBURG, IN
ANA, ISNA-LM, CSNS-LM(317) 852-8458

Trivia:Which Indian Statesperson is shown on some1985 Indian coinage, following her death?
Answer is at the bottom of the treasurer 's report.

9

OCTOBER, 2019

Issue# 604

Sept em ber 16, 2019 - M in u t es of t h e In dian apolis Coin Clu b M eet in gOpen - The meeting was called to order at 7:00 p.m. The meeting was held at the Knights ofColumbus Hall, 2100 E. 71st., Indianapolis, Indiana. The attendance prize was announced, a 1976
Proof 67 Ike Dollar (40% Silver) donated by Jim Sukup.
The Secr et ar y 's r epor t for August 2019 was accepted as published in the Planchet. The
Tr easu r er 's r epor t for August 2019 was accepted as published in the Planchet.
Visit or s - We had 1 visitor.
Old Bu sin ess ? ISNA needs volunteers for the upcoming State Show 12/6 ? 12/7. Chris Bower still
had 4 free memberships to the ANA for new members.
Repor t s of Com m it t ees ? None.
New Bu sin ess - Candidates for our Board of Directors for the ensuing year will be announced at
the October meeting.
Nu m ism at ic f in ds: A member of our club had a ?Donald Trump $1 Note?. Joe had an interesting
new Bolivian $50 note. On the back one of the security features is a Flamingo that has stripes thatturn from Gold to Green depending on the light. Joe stated that the cost for the security feature washigh considering the value of the note was only $7.00.
Tonight was exhibit night and unfortunately your secretary did not take detailed notes but needlessto say we have numerous exhibits with almost everyone getting a nice prize thanks to the efforts of
Don Wray. I will do better next year. I was so interested in the exhibits I forgot to take notes.
The At t en dan ce Dr aw in g was won by Jef f Su t t on and the 50/50 Drawing was won by Lou ise
Bolin g.
Au ct ion ? The auction was held with help by several members. There were 6 auction sheets withlots from 4 different members.
The meeting was Adjou r n ed.

Respectfully submitted,

Gar y Selig
10

OCTOBER, 2019

Issue# 604

In dian apolis Coin Clu b
2019 M eet in g Dat es & Edu cat ion al Pr ogr am s
January 21, 2019 - ?Numismatic Literature?- by Eric L. Lindseth* Prize sponsor: Christopher Bower
February 18, 2019 - ?The Perth Mint Lunar Series? - by Greg Gordon* Prize sponsor: I.C.C.
March 18, 2019 - ?British Provincial Tokens?- by Christopher Bower* Prize sponsor: Jim Sukup
April 15, 2019 - 'Joan Clark Murray: Breaking the Code of Scottish Groats' by Louise Boling* Prize sponsor: Louise BolingMay 20, 2019 - 'The British Sovereign and its Wannabes' - by Donn Wray
* Prize sponsor: Donn Wray
June 17, 2019 - 'Coins of Mary, Queen of Scots' - by Paul Vaughn* Prize sponsor: Paul Vaughn
July 15, 2019 - 'Coins with Stories.' - by Brad Karoleff* Prize sponsor: T. B. A.
August 19, 2019 - 'Coin Collecting to the Fullest' - by Andy Nahrwold* Prize sponsor: Andy Nahrwold
September 19, 2018 - Exhibit Night* Prize sponsor: I. C. C.
October 21, 2019 -T. B. A. - 'Cleaning/Conservation' by Matt Dinger* Prize sponsor: T. B. A.
November 18, 2019 - ?Annual State of the Hobby Address?-by Mark Eberhardt* Prize sponsor: I.C.C.
Tuesday, December 3, 2019 ? NO MEETING - I.C.C. Holiday Banquet* For 2019 we are continuing the 'Attendance Prize' drawing at each monthly meeting as an added incentive
for all I.C.C. members to attend as many meetings as possible and to encourage new membership. Everyone
attending each regular monthly meeting will receive a prize ticket when they arrive at the meeting and sign inat the greeting table. The prize each month will be a 90% silver U.S. Half Dollar (or equivalent value coin, $5 ormore) The I.C.C. Board members and officers as well as several I.C.C. members chose to act as sponsors anddonate the monthly prizes rather than funding them from our budget. You'll find the monthly prize sponsor
listed below each monthly meeting date above. You'll just have to show up to see what you may win!
Please keep this in mind each month; regardless of who is giving the monthly program and/or the topic, we owe it tothat person and the membership to remain quiet and pay attention during the program. It?s important that we
respect the knowledge that is being shared with us as well as the time and effort the speaker is donating to our club.
The same rules should apply to our monthly auctions; please remain quiet and pay attention. Thank you.

11

OCTOBER, 2019

Issue# 604

Tr easu r er ?s Repor t 2019
RECEIPTS:
Dues - Regular @ $20.00 ea.
Dues - Junior @ $5.00 ea.
Advertising - Planchet @ $35.00 ea.
Fifty/Fifty Drawing:Au gu st 2019$20.00$50.00Donations / Auction Lot Sales:
ICC Library Book Sold (est):
Auction Lots Sheets @ $1.00 per Sheet:
Newsletter Postage Fee:

$15.00

Sale of Medals
TOTAL RECEIPTS:$85.00Au gu st 2019DISBURSEMENTS:
Dues - ANA:
Insurance - Liability:$300.00
No
t
r
easu
r
er
's
r
epor
t
availableattim
e of pu blicat ion .
Insurance - Treasurer 's Bond:
Mail Box Rental:
Secretary/Treasurer - Postage:
K of C Meeting Room Rent:$100.00
Door Prizes (11 Months)
Exhibitors Nights Prizes:
Library Purchases:
Speaker Meals:
Website Maintenance:
Newsletter:- Printing/Supplies:- Postage:
TOTAL DISBURSEMENTS:$400.00

NET INFLOW / OUTFLOW:($315.00)

ICC CHECKBOOK:
Balance:Au gu st 2019
$3827.44

Trivia Answer: Indira Gandhi
12

OCTOBER, 2019

Issue# 604

Adver t ise in t h e In dian apolis Coin Clu b
New slet t er !
Th e cost is on ly $35.00 f or a bu sin ess car d size adf or 11 issu es!

Th e 2019 In dian apolis Coin Clu b
Of f icer s an d Boar d M em ber s:
President
Jim Sukup
Vice-President
Andy Nahrwold
Secretary
Gary Selig
TreasurerMark Eberhardt
Newsletter Editor
Christopher Bower
Past President
Michael White
Sgt-at-Arms
Jim Warden
Board Member 2018-2019
Gerald Coraz
Board Member 2018-2019
Paul Vaughn
Board Member 2018-2019
Jim Roehrdanz
Board Member 2019-2020
Donn Wray
Board Member 2019-2020
Jeff Bercovitz
Board Member 2019-2020
Steve Howery

13

OCTOBER, 2019

Issue# 604

Specialist in World Coins

14

Issue# 604

OCTOBER, 2019

Lost Dutchman
Rare Coins
4983 N Franklin Rd. Indianapolis, IN(317) 545-7650
Your Local Full Service Coin Shop Since 1985

Specializing in Rare U.S. & World Coins.
Thinking of selling? WE PAY MORE!
Buying & Selling
US & World Coins, US Paper Money
Key Date Coins, Graded Coins, Complete Sets
Gold and Silver In All Forms
Military Collectibles

VISIT OUR WEBSITE TODAY!

http://www.LDRCoins.com
15