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Montgomery County Coin Club

May 1997 Bulletin

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Next Meeting: Tuesday, May 20, 1997--- Special Viewing of ANA Coin Grading Video

The Club will meet at 7 p.m. on Tuesday, May 20, 1997 at the Senior Citizens Center on Forest Glen Road in Silver Spring, Maryland. The featured event will be a showing of highlights of the American Numismatic Association videotape on coin grading. The tape will illustrate for members how to accurately grade various coins. This tape is especially valuable for new numisma tists who may be somewhat confused and intimidated by the art of coin grading. 

For Young Numismatists Only

As in past months, the Club will have a special raffle for Young Numismatists (YNs). In addition, any YN who exhibits at the May meeting will receive a coin from Panama. This month's special awards are made possible through the generosity of Mae Clark. 

For New Exhibitors Only

If you have not exhibited anything at the club in the past twelve months, May is your chance to be rewarded for your patience. Anyone who exhibits something at the May meeting will have the chance to win a copy of the Standard Catalog of World Coins, cou rtesy of Burnett Anderson of Numismatic News. It is a back issue of the catalog, but if you do not have one, it is an invaluable guide to identifying world coins. 

April Meeting Roundup

MCCC President Ken Swab, wearing a "fly" ball baseball tie this month, called the meeting to order, with about 50 members in attendance, including 6 young numismatists (YNs). President Swab welcomed visitor Bob Reilly . Treasurer Simcha Kuritzky reported on the Club's finances. Vice President William C. Massey pointed out that the MCCC Web Pages were attracting considerable attention, including mail-in requests for information and MCCC elongated coins. Librarian Kermit Smyth encouraged members to take adva ntage of the Club's library holdings, and noted the availability of a new book on U.S. commemorative coinage by Anthony Swiatek.


Future Speakers

The following speakers are scheduled for future meetings: Other speakers will be announced as scheduled. 

April Guest Speaker: Burnett Anderson of Numismatic News

Burnett Anderson, spoke about the evolution of U.S. coinage since 1980. Mr. Anderson, as President Swab introduced him, "is the Washington Bureau of Krause Publications", a job which he took on after a long and successful career as a diplomat, author, editor, and numismatist (and former drummer on a trans-Atlantic ocean liner!).

Mr. Anderson outlined how he met Chester Krause and Clifford Mitschler in February 1981, and was hired shortly thereafter to report on Washington numismatic events. US coinage had been quiet for many years, but beginning in 1981, "an explosion" took place. The Reagan Administration moved abruptly to end production of the ill-fated Susan B. Anthony one-dollar coin, and formed the Gold Commission to study the possibility of bullion issues. The price of copper shot up, making cents almost worth their face value in metal. Congress brought back commemorative coinage. Silver bullion sales from the U.S. stockpile began, and were then suddenly stopped. An effort by industrialist Armand Hammer, who, together with Lazard Freres wanted to distribute (and profit from) 1983-1984 Olympic coinage was stopped by Rep. Frank Annunzio (D-IL), who established the principle that the Mint should be the dis tributor of U.S ommemoratives.

Burnett Anderson went on to describe in detail the decline of the U.S. commemorative program --- beginning with the successful 1982 George Washington silver half dollar but sliding downhill after 1990, as, "fed by greed", numerous issues began to come out every year. "This is a lesson in human nature and our common frailties", according to Mr. Anderson, leading up to the "absolutely disastrous performance" of the most recent commemorative marketing efforts. The bottom-line lesson is that "collectors buy coins", not members of special-interest groups (who purchase fewer than 10 percent of the pieces issued, in spite of the claims of promoters). The U.S. Mint has tried its best, but "there is no retail market for coins of the U.S." in department stores, chains, or other outlets.

Mr. Anderson did see a few rays of hope on the horizon. The Citizens Commemorative Coin Advisory Committee is a positive force, and Congress is trying to limit itself to two coin programs annually --- but whether that can succeed is another matter. Meanwhile, we have to get through the next few record-breaking years, with four (!) commemoratives due to come out in 1997 alone, plus three in 1998 and two each in 1999 and 2000.

Mr. Anderson concluded, "I don't know what the future is going to bring --- but read Numismatic News and I'll tell you all about it!" 


April Exhibits: Tax Tokens, Big Silver, Russian Medals, MCCC Photos, and Bags!


Awards and Other Activities


Thanks

The previous month's bulletin inadvertently neglected to thank William M. Massey for routinely bringing chips, cookies and drinks to the meetings for the enjoyment of the members. The editor apologizes for the oversight. 
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