Wichita daily eagle. [volume] (Wichita, Kan.) 1884-1886, 1886-04-23
CONTEMPLATING COINS AND STAMPS
A New Phase of Swindling Which has Re
Gently Been Developed.

Gently Been Developed.
A new phase OF swindling has recently
grown UP in this country This is the coun-
terfeiting of old coins and postage stamps
with which collectors enrich their cabinets.
Owing TO the demand for such articles on
tie part Of nunismatists and Others, a
profitable business has grown up in coun-
terfeiting the originals and selling them at
immensely advanced prices. Several days
ago the secret service officials secured the
arrest Of certain persons in Philadelphia
who had in their possession 4 900 spurious
coins which they had manufactured for this
purpose. As there was no evidence that the
coins were intended for circulation, but only
to rob confding dupes Of their money, the
guilty parties were allowed to go unpun
ished upon their promise to destroy all the
dies and plates in their possession.
1t is now learned that a firm in Germany
is manufacturing United States postage
stamps of "a denomination long since extinct,
which have attained an enormous sale in
this country. l was shown several sets Of
these genuine and spurious stamps at the
Office of the secret service recently. IL
there was any difference, it appeared to be
in favor of the latter, which in all respects
we're tie better executed in point OF color
and workmanship l afterward talked with
a local numismatist about the effect OF
counterfeiting upon tie sale Of these curioa
lie said it was not so great as might be sup
posed. 1t would be difficult TO swindle q
dealer in ancient coins, though, of course,
people who purchased Of whomsoever might
offer were apt to be taken in
He then informed me that silver half+1ol-
lars coined in the year 1904 found a ready
sale at from $50 to 81 go each. The value
depends upon the preservation Of the CON
The dealers have ascertained that there are
but seven pieces of this denomination that
were circulated, little, if any. 1t is these
seven which command the highest figure.
Those whose appearance Is not too much
disfgured sell readily at 500, while any OF
the remainder, without regard to condition,
arc sold at $3.50. II is little singular that
while coins of 1905 and 1906 are worth only
a few cents more than their face value,
those of 1901 should be rated so extensively.
The reason for this lies IN the fact that in
/ OF tho number of hal9-dollars coinei was
comparatively small, and as these grad
ualiy disappeared from circulation their
value accordingly increased Another coin
Tor which there is great demand is the half
dimes of lst2. These are quoted at from
$50 to $40 each, according to their state
of presers alton, and for the same reasons
given above.
The sums of money withdrawn from cir
culation and locked up in thesc collections
is said TO be very large. The number OF
collections have greatly increased OF late
years. and many rich men, like senator
Stanford of California and Harri on Gar
rett of Baltimore, made it their especial
hobby. The mos: complete collection in
ton from the old colonial days down to the
present time, is in possession of Loring c.
Parmalee of Boston Its intrinsic value is
tri!e less than 81 20. The sum which
Mr. Parmalee has refused for il is So, 900. =
Phiiaielphia Press