CoinClinic: Why are Coins Called ‘Colonial?’
Anything struck for American circulation before the founding of the United States Mint is a “colonial” coin.
Why do many coin dealers label post-Revolutionary coins as “Colonial?”
Historians generally use the signing of the Treaty of Paris in 1783, which officially ended the Revolutionary War, as the end of our Colonial period. Since individual states were still issuing their own coins in 1788 for numismatic purposes, we were still in the Colonial period. The “Red Book” uses the term Post-Colonial, a much better choice.
I’m beginning to collect coins by rolls. Is there a fast way to check rolls of coins for better stuff?
Checking rolls of coins is labor-intensive, but it may have its rewards. Cent and 5-cent coin rolls need to be checked for better dates and errors. Dimes are easier. Look at the edges to identify any silver coins. The edge of quarters and half dollars should likewise be checked for silver, but again, you need to look at the dates on each coin. Larger dollar coins that ended in 1978 may have value regardless of whether they are silver or not, but it will be challenging to find a bank that can offer you rolls at face value.
If I take rolls of coins to a bank, how does the bank verify the rolls?
Banks weigh coin rolls to ensure the correct number of coins have been rolled. Banks have a list of weights (including the weight of the paper wrappers) to ensure the roll hasn’t been shorted or someone put marbles or washers somewhere within each roll.
What diagnostics should I look for to determine if I have a 1921 Morgan dollar Zerbe Special Strike?
There are somewhere between 150 and 200 Zerbe Special Strike Morgan dollars known. The Zerbe examples were struck onto ordinary circulation-strike planchets using highly polished dies. There were no proof Morgan dollars struck in 1921. Zerbe Morgan dollars are inferior to earlier proofs but appear to be better than that year's business strike silver dollars. Expect to see more hairlines on the devices than on the circulation strikes of 1921.
Why did Zerbe arrange to have special silver dollars struck?
Farran Zerbe was a coin dealer and president of the American Numismatic Association between 1908 and 1909. He was promoting a circulating commemorative silver dollar to mark the peace following World War I; however, mint production of this Peace silver dollar failed to make its scheduled release date. The Mint allegedly struck the special Morgan dollars and gave them to Zerbe due to the late release of the anticipated coin.
Why is the American Numismatic Association’s highest award no longer called the Farran Zerbe Memorial Award?
Zerbe’s name was dropped from the award in 2021 at the request of past award recipients. Zerbe was a controversial figure who was accused of fraud and hucksterism. He also sold 1904 gold-plated Louisiana Purchase Exposition souvenirs similar to the commemorative gold dollars he was selling. Zerbe has also been accused of unscrupulously purchasing The Numismatist from relatives of the late Dr. George F. Heath.
The Numismatist belongs to the American Numismatic Association. How did that come about, considering Zerbe purchased it?
There were accusations of bribery surrounding the 1909 ANA election of John M. Henderson as president. Henderson was a close friend of Zerbe’s. ANA Vice President W.W.C. Wilson purchased The Numismatist from Zerbe about this time and donated it to the ANA in 1910.
Is there a connection between the Zerbe and Chapman dollars?
The Mint meant to satisfy coin dealers Farran Zerbe and Henry Chapman for the Mint’s delay in issuing the 1921 Peace dollar, both of whom were to distribute the coins. It was understood that about 10 to 15 Chapman dollars were struck, but more than that number have been certified by the Professional Coin Grading Service. It is possible that the Mint satisfied yet a third dealer for their late Peace dollar release, giving that individual Chapman dollars as well. Chapman 1921 Morgan dollars have deep mirror proof-like surfaces, sharper details, and razor edges as expected on a true proof coin. Die file marks appear up to the right and from the left tip of the “1” and serif of the second “U” in “UNUM.”
Why were Zerbe and Chapman privileged to get special coins from the U.S. Mint? Today, the Mint wouldn’t reimburse a coin dealer for something special because they missed their production deadline.
It appears that Mint Engraver George T. Morgan wasn’t satisfied with simply designing coins for circulation. There is evidence that Morgan was also selling coins directly from the Mint, particularly to Philadelphia coin dealer Henry Chapman.
Hawaii overprint bank notes were used on the islands during World War II. Were the normal Silver Certificates recalled?
On Jan. 10, 1942, U.S. currency was recalled from Hawaii, although individuals were permitted to retain up to $200 and businesses up to $500. On June 25, all U.S. currency was recalled and replaced with the Hawaii overprint bank notes. The Hawaii overprints were gradually withdrawn beginning Oct. 21, 1944, and were no longer in circulation by April 1946.
What happened to the withdrawn bank notes? Were they returned to the mainland?
It has been estimated about $200,000 face value in bank notes were incinerated and replaced with the Hawaii overprint notes. The notes were sent to a local crematorium and later to larger furnaces at the Aiea sugar mill. A wire mesh placed on the chimney was meant to catch unburned scraps. There were rumors that much of the withdrawn money was stolen by individuals and criminals rather than burned.
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