The Planchet

July 2013

Issue #535

The next meeting will be
Monday, July 22nd, 2013
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.

Indianapolis Coin Club Educational ProgramThis months Educational Program will be:'From Crowns to Cartwheels; 1800's-1900's Silver' - by Michael White
Next Months Meeting Date & Program:
Monday August 26th, 2013

‘A Numismatic Quiz’ - by Jerry Lebo / Logansport Coin ClubFor a complete list of 2013 Meeting Dates &Educational Programs see the last page of this newsletter.

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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.

The 2013 Indianapolis Coin Club
Officers and Board Members:
President
Vice-President
Secretary
Treasurer
Newsletter Editor
Past President
Sgt-at-Arms
Board Member 2012-2013
Board Member 2012-2013
Board Member 2012-2013
Board Member 2013-2014
Board Member 2013-2014
Board Member 2013-2014

Donn Wray
Michael White
Vinton DoveMark Eberhardt
OPEN
Jim Roehrdanz
Jim Warden
Jim Fuson
Ron JacksonPaul Vaughn
Dave Reid
Bob Bettcher
Gary Conner

June 24, 2013 - Minutes of the Indianapolis Coin Club Meeting.
Open – The meeting was called to order at 7:07 PM by Club Vice-President, Michael White.
31 were in attendance. We met at the Northside Knights of Columbus Hall, 2100 East 71st St.
Visitors – Tom and Jan Marsh from the Muncie Coin Club.
The Secretary’s report was accepted as published in the Planchet. The Treasurer’s report
was provided by Mark Eberhardt. Mark advised the current checkbook balance is $5,549.34.
He also indicated that the club has a CD coming due in September and that it may be best to let
it roll over. This report was accepted by membership.
Old Business – Board Member, Dave Reid, was reported to be at home and in good spirits aftera recent hospitalization. The membership unanimously wished Dave a speedy recovery andexpressed the hope of seeing him at the July meeting.
New Business – Michael White shared with the membership an overview of his recent visit tothe Bureau of Engraving and Printing in Texas. Michael described the unique appearance ofthe new $100 bill to be introduced soon.
The Educational Program – Jim Roehrdanz gave a presentation on the Franklin Half Dollar,
which Jim indicated has earned its reputation as the “Rodney Dangerfield” of coins. With theassistance of Michael White, a “Bugs Bunny” example of the coin was present for inspection by
the membership, along with a couple common date uncirculated examples. Mention was madeof the diverse interests of Ben Franklin over his lifetime, whose accomplishments ranged frominventor to diplomat.
After the Break, the 50/50 Drawing was run by Bob Bettcher and won by Karl Kreck.
The Door Prize was won by Bill Schutt, but will be awarded in July, as Donn Wray was thesponsor of the prize in June and was unable to attend.
Auction – Mark Eberhardt ran the auction. Assisting was Michael White.
The meeting Adjourned around 8:23 PM.
Respectfully submitted, Jim Roehrdanz, Past-President and Acting Secretary

Treasurers report summary:

ICC CHECKBOOK:
Starting Balance:
Cash/Checks in:
Checks Out:
Ending Balance:
Net Gain or Loss for the Month:June.
$5,549.34$ 24.00$ 50.00$5,523.34$ (26.00)

My apologies, the complete report would not format correctly to fit within the designatedarea. We’ll try to correct this situation in future publications. Thank you.
I.C.C. Acting Editor Michael WhiteEvolution of The Philippines Silver Peso 1903 - 1967
By Michael White - July 2013

I've always found it interesting that so many times while researching one area of numismaticinterest that one can be so easily led in another direction at any point along the way. I think thisis a perk for anyone who is truly a fan of numismatic study and diverse collecting. After all,there is always something new to be learned.
Case in point. As I was researching world silver coins for my upcoming Indianapolis Coin Club
Educational Program I noticed something that's been right in front of me for years that I neverreally noticed or gave much thought to. My topic of discussion is: 'From Crowns to Cartwheels;
1800's-1900's Silver'. My focus will be the fact that I was always drawn to Morgan & Peace silver dollars for collecting and also for investment. As the price of silver rose over the past few
years it got more & more difficult to buy these coins at reasonable prices. Besides buying nice
AU & UNC examples to collect and hold I was also trying to buy low grade & cull coins strictly
for their 90% silver content at something NEAR melt. Due to increasing cost I turned to Worldsilver coins and made some interesting discoveries along the way. Here's one discovery that I
found interesting enough to pick as the topic for this months Planchet article. I think it proves
my point about the continuing education we receive while collecting and maybe it will ignite
some discussion at our meeting on Monday. There is also a lesson to be learned... Here it is.
As I stated above, throughout my 10 years of serious numismatic collecting my area of highest
interest has always remained the Morgan & Peace dollars. I love the feel of that big heavy silver
dollar that contains about 3/4 of an ounce (.7523 oz. to be exact) of silver in my hand and I enjoy the fact that the coins detail can be so easily enjoyed with little to no magnification. As silver rose in price over the years and I turned to World silver for collecting & investing, one ofthe coins I became interested in was the Philippines silver Peso. They weren't necessarily an inexpensive coin to collect in higher grades, but certainly reasonable. They are attractive, easily
attainable as most mintages were relatively high (for a World coin), and they have an interesting
history since many of them were struck here in the United States. From 1903 to 1919 much of
the Philippine coinage was struck here in the U.S. at the Philadelphia & San Francisco Mintsand in 1944 & 1945 Philippine coins were struck at our Denver Mint facility as well as Philadelphia & San Francisco. All other Philippines issues dated after 1920 were struck at the mint in
Manila, Philippines.
Now, keep in mind that I was looking to add World coins to my investments and collection thatwere the same size and silver content as a 19th Century U.S. silver dollar. Those parameters being that they are 90% silver/10% copper (@.7523 oz. of silver), about 38mm in diameter and26.73 grams ASW (Actual Silver Weight) so when I began collecting the Philippines silver
Peso I started with the 1903. (see KM# 168 below) This coin fit all the parameters above andhad a mintage of almost 3 million coins (again, pretty high for a World coin) so it was attainableat fair prices.
I started shopping for the Peso's on Ebay and at coin shops and obtained several dates between
1903-1906 at reasonable prices. I thought "Well, that was easy, let's shop for some other issues".
I was hurriedly browsing Ebay one evening before work when I spotted a 1907 Silver Peso forwhat I felt was an awesome price. It was in an Ebay auction that was ending in about 2 minutes
and the bids seemed low. I waited until the last minute to bid, sniped the current high bidderwith 4 seconds left on the clock and easily won it. I was very proud of myself because it was adecent looking coin at near-silver-melt price....I thought to myself; "I stole that coin!"A few days later I received the coin and realized I had made a serious rookie mistake. It turnedout that I had not been a thorough numismatist in my quest to buy Philippines silver Peso's!
(See KM#172 below) Not only was the coin comprised of 80% silver instead of 90%, it wasalso considerably smaller at 35mm with an ASW of only 20.00 grams (.5144 oz.) Obviously I
was disappointed that my "great deal" turned out to be a bad judgment call on my part of making a hasty purchase without the knowledge of exactly what I was bidding on. I overpaid for thecoin and felt pretty stupid because I knew I had every reference book in my library that would
have told me everything I needed to know about Philippines Peso's had I just taken the time to
do proper research. Any 'Red Book' was all I would've needed to avoid making that mistake.
......THAT is the lesson learned; knowledge is paramount when collecting!
This started me on the quest for knowledge to school myself on Philippine Peso's BEFORE Ibought any more. Below you'll see the "evolution" of the silver Peso from 1903 to 1967. Notethe size changes and silver content adjustments that were made to these coins in 1907 and lateras the price of silver rose & fell. (Changes are in BOLD type.) Michael WhiteKM# 168 PESO (1903-1906)
26.9568 g., 0.9000 Silver 0.7800 oz. ASW @ 38mm

KM# 172 PESO (1907-1912)
20.0000 g., 0.8000 Silver 0.5144 oz. ASW @ 35mm

KM# 177 PESO (1936-M)
20.0000 g., 0.9000 Silver 0.5787 oz. ASW, 35 mm.

KM# 178 PESO (1936-M)
20.0000 g., 0.9000 Silver 0.5787 oz. ASW, 35 mm.

KM# 185 PESO (1947-S)
20.0000 g., 0.9000 Silver 0.5787 oz. ASW, 35.5 mm.

KM# 192 PESO (1961-M)
26.0000 g., 0.9000 Silver 0.7523 oz. ASW @ 38mm

KM# 193 PESO (1963-M)
26.0000 g., 0.9000 Silver 0.7523 oz. ASW @ 38mm

KM# 194 PESO (1964-M)
26.0000 g., 0.9000 Silver 0.7523 oz. ASW @38mm

KM# 195 PESO (1967-M)
26.0000 g., 0.9000 Silver 0.7523 oz. ASW @38mm(KM# 195 is a Prooflike Issue)

Reference sources:

2009 Standard Catalog of World Coins 1901-2000 (DVD) 36th Official Edition - 2008 Krause Publications
2013 The Official Red Book- A Guide Book of United States Coins- 66th Edition - 2012 Whitman Publishing LLC

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Indianapolis Coin Club2013 Meeting Dates & Educational Programs
January 28, 2013 - 'The "Next Gen" $100 Federal Reserve Note' - by Joseph Boling*Prize sponsor: Mark Eberhardt

February 25, 2013 - 'Coin Knowledge Quiz' - by Mark Eberhardt*Prize sponsor: Vinton Dove
March 25, 2013 - 'MPC Fest Recap' - by Joseph Boling*Prize sponsor: Ron Jackson

April 22, 2013 - 'Early U.S. Mint Sets' - by James Warden*Prize sponsor: David Reid

May 20, 2013 - 'Canada & Newfoundland Coinage' - by Dave Reid & Paul Vaughn*Prize sponsor: Michael White

June 24, 2013 - 'Franklin Half Dollars-The Rodney Dangerfield of Coins' - by Jim Roehrdanz*Prize sponsor: Donn Wray

July 22, 2013 - 'From Crowns to Cartwheels; 1800's-1900's Silver' - by Michael White*Prize sponsor: Jim Roehrdanz

August 26, 2013 - 'Numismatic Quiz' - by Logansport Coin Club
*Prize sponsor: Shannon Spears

September 23, 2013 - I.C.C. Exhibit Night*Prize sponsor: OPEN - No sponsor yet...

October 28, 2013 - 'Small Size Type Currency' - by Donn Wray
*Prize sponsor: OPEN - No sponsor yet...

November 25, 2013 - “State of the Hobby” by Mark Eberhardt*Prize sponsor: OPEN - No sponsor yet...

December (?) 2013 – NO MEETING - I.C.C. Holiday Banquet – Details TBA
TBA = To Be Announced*For 2013 we are introducing an '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 in at the greeting table. The prize each month will be a 90% silver U.S. Half Dollar (or equivalent 90% silver content coin) The I.C.C. Board members and officers chose to act as
sponsors and donate the monthly prizes rather than funding them from our budget. You'll find themonthly prize sponsor listed below each monthly meeting date. 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 to that person and themembership to remain quiet and pay attention during the program. It’s important that we respect the knowledge that is being sharedwith 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.