Notice of April Meeting

The next meeting of the PEINA will take place in the Library of Colonel Gray Senior High School, 175 Spring Park Road, Charlottetown, on Monday, April 15, 2002. The meeting time remains unchanged, 7 p.m. for the conversationalists with the formal session starting at 7:30 p.m.!

We'll begin with a show-and-tell of some items to be displayed at the APNA spring show in May, however, a warm welcome is extended to anyone wishing to contribute any interesting numismatic material to this portion of the evening.

On The Agenda

We will devote our evening to the subject of tokens. What is a token? One definition begins "A token can be any stamped piece of metal...." but what if the "token" is made of paper fibre? Members attending this session will indeed receive a paper token, over fifty years old and once used in this province! Members will also be asked to guess what it is, and the circumstances of its production and daily use! Also on the agenda will be a token quiz, with valuable prizes to the winners in each of the categories (young numismatist, regular collector, and "old timer").

This session will also be an opportunity to show off a token or two or three, so bring along you best, or oldest, or most interesting, or the one you acquired last week, or even a picture of one you'd like to have!

We'll end the evening with an attempt to define, as precisely as we can, just what is a "token" in the numismatic understanding of this word.

Membership Dues

Thanks are extended to those who have recently sent in their membership cheque by mail or have taken the time to stop by the house. Your membership card should be tucked in with this newsletter in a small white envelope. Remember: 2002 dues are now due.

The March Meeting

The March meeting was devoted to grading coins, a huge topic which is of considerable interest to collectors. So wide is this topic that our grading guide -- member Ralph Bagnall -- had us focus on the coinage of George V. Using the George V cent, Ralph explained the vocabulary which is used in grading and then, armed with magnifying glasses, we were led through the coins from Unc to G. Ralph's handout was very useful, and copies will be available at the April meeting for anyone who was not able to be present in March.

To conclude the session, a set of ten George V one cent coins was passed around and we were invited to indicate, on a slip of paper, the grade which should be assigned to each coin. This was a challenge indeed, and we had great fun afterwards as we went around the table to see how members present had graded each coin. As one member astutely pointed out, grade can also depend upon whether one is buying or selling!

Sincere thanks go to Ralph for the time and effort he put in to this assignment, which was greatly appreciated by the club.

Spring APNA Show The annual spring meeting of the Atlantic Provinces Numismatic Association takes place in Nova Scotia on Friday and Saturday, May 24 and 25, 2002, at the Dartmouth Senior's Service Centre, 45 Ochterloney Street.

Dave Wolfe and the Halifax Regional Coin Club are planning a great weekend for us, beginning with an auction at 5:30 pm on Friday. Over 150 items will be on the block with 125 lots committed already, according to an announcement in the March 2002 Pros and Coins newsletter of the HRCC. A reception will follow, starting at about 8pm, at the Centre.

The show itself will be held from 9:30 am to 4:30 pm on Saturday May 25, also at the Senior's Centre. According to an e-mail received from HRCC president Dave Wolfe, some 25 tables will be covered with tempting numismatic treats, and the tables are going fast.

For those who enjoy the opportunity to show off their collections, a display section is being planned. Displays for this show will be non-competitive, with a certificate of appreciation from the HRCC and the APNA going to each participant. Hopefully this will encourage more participation in this aspect of the hobby. Remember, display cases are available to PEINA members who will be taking up this challenge; see Mark if you want to borrow a case or two for this purpose.

Following the closing of the bourse, HRCC will be hosting a social event with coffee and sweets, and according to Dave Wolfe this will be a chance to talk shop, show off those fantastic purchases we have made, and unwind from a busy day of wheeling and dealing! There will not be a formal banquet this time, neither is there a special hotel for the weekend.

The HRCC will be producing a set of show medals, $70 for a set of three. Reservations for show medals can be directed to the HRCC, c/o The Dartmouth Senior's Service Centre, 45 Ochterloney Street, Dartmouth, N.S., B2Y 4M7.

Regarding the auction, the last date for entering material will be April 30^th, or earlier if the quote of 150 lots is filled. Once the list is completed, copies will be sent to all clubs. The list will also be posted on the Halifax Regional Coin Club website, which can be reached at www.geocities.com/ halifaxcoinclub/index.

The late Tom Rogers

Members are reminded that the collection of numismatic books and catalogues left by the late Tom Rogers, one of our founding members, and which the club gave to the University of Prince Edward Island, are still available for use and loan at the Robertson Library. The library is now fully computerized, and locating the books is a breeze using the computer. You can search the library's database via author, title or subject, and locator maps posted throughout the library will guide you to the book's location.

This writer has recently been enjoying The Currency and Medals of Newfoundland, by Rowe, Haxby and Graham, the first publication in the J. Douglas Ferguson Historical Research Foundation series which includes our own province. Also noted on the shelves and mentioned here in case anyone has need of such a volume, is Pick's massive book on paper currency.

More Paper

Last month we mentioned the financial crisis in Argentina. With limits imposed upon citizens regarding how much money they can withdraw from the bank, a new form of paper money has been created with the issuance of provincial and municipal "bonds" which circulate as money.

Well, they're at it again, only this time paper money is being produced right here in Canada! The Globe and Mail newspaper for March 19 carried an interesting story about Saltspring Island money.

Designed for tourism promotion and not economic crisis, it is much like Canadian Tire money -- it's good only in one place, on Saltspring Island -- but the denominations are much larger. The Globe article is reproduced elsewhere in this newsletter. Meanwhile, can we look for this new currency to be offered for sale to collectors in the next Canadian Coin News?

Even more Money!

Since writing the above paragraph, the Globe and Mail (for Wednesday, March 27) reproduced in blue the reverse of the new $5 Bank of Canada note. The scene is of young children playing hockey. It's hard to comment on this design from a newspaper reproduction, but it looks like we have an image which will touch a chord of nostalgia in many. The notes were released early, in error, and may already be in a number of chartered banks. The article will be found elsewhere in this newsletter.

In light of changes to the $10 and $5, one wonders if the $20 note will be changed to include the portrait of Pierre Eliot Trudeau.

Bluenose Too?

A March Break visit to Halifax and a browse through that city's Mail-Star newspaper revealed an interesting story regarding the 2001 Canadian ten cent coin, a.k.a. the dime. A Nova Scotia Member of Parliament wants the schooner Bluenose to become a permanent fixture on this particular coin, like the profile of the reigning monarch.

It should be noted that while the 2001 dime did honour volunteers, the Bluenose was not completely displaced. A number of 2001 Bluenose dimes were produced although not in great quantity, to judge by the $2 price tag attached to these coins at the Yarmouth show last October. It's worth watching your change for this one, as this writer has found a number of 2001 dimes in daily circulation (after, of course, he shelled out his toonie in Yarmouth!)

The Mail-Star article is reproduced elsewhere in this newsletter. Member of Parliament Keddy raises an interesting question, however. Should the maple leaf on the cent, the beaver on the five cent coin, and the other designs we've come to expect every year, somehow be enshrined in law to always appear on these coins? Or should the Mint have flexibility, to change designs from time to time when a special occasion arises?

Internet News

Anyone with a computer will know that there are many thousands of websites devoted to numismatic topics. It's been some time since a reference to the Internet has appeared in this newsletter, and over a year since members enjoyed an evening in one of the Colonel Gray computer labs.

Let me mention www.cointoday.com as a good place to go for a daily dose of numismatic news, views, articles and links to interesting places. A recent gander reveals an interesting item from the New York Times that should catch the eye of those who delight in coins from shipwrecks. The remains of HMS Sussex have been found near the Strait of Gibraltar, half a mile deep and said to be home to a fortune in gold and silver. The ship was carrying this treasure to Italy, to pay off British allies, when it sank in a storm. The figure "up to $4 billion" is mentioned. Good grief!

Cointoday's articles come from newspapers and journals around the world. A recent peek reveals an item on banknote collecting from The Scotsman ["Scotland's National Newspaper Online"] while the item from the Economist offers a view of what makes money solid and accepted. The new Euro paper has been well received, while in Argentina the currency goes from bad to worse to terrible. This is the sort of article which helps to put collecting of numismatic material into a wider context.

Speaking of history, there is news of a special exhibition of the American Numismatic Society -- not to be confused with the American Numismatic Association. The ANS, situated in New York City, has opened "Drachmas, Doubloons and Dollars: The History of Money" at the Federal Reserve Bank of New York in lower Manhattan. The money traces world history through currency and shows the development of fiat money, or money not backed by gold or some other precious metal.

Finally, a most interesting article on a rare American coin, the 1933 "double eagle", also known as a $20 coin. All but ten of these coins were melted after the U.S. left the "gold standard". Not having been officially issued, they could not be legally owned and nine found in private hands were confiscated and destroyed. This particular coin escaped destruction, and after a five-year legal battle following its seizure from a British dealer it will be auctioned on July 30 by Sotheby's and Stack's.

This is a great site for browsing and if you enjoy numismatic history, a periodic visit will be time well spent.

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This newsletter is published monthly, except July and August by the P.E.I. Numismatic Association.