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Newsletter Title
May 2015
Finds of the Month
The 1895 Morgan Dollar
The 1895 Morgan Dollar is known as the "King of the Morgan Dollars" because it is the
rarest and most valuable of the entire Morgan Dollar series. PF-68 specimens of this rare
coin have sold for upwards of $120,000 at auction.
According to U.S. Mint records, there were 12,000 regular circulation Morgan Dollars
struck for 1895, and 880 Proof specimens struck. However, only 75 to 80 of the 1895
Morgans have been accounted for, all of them Proofs.
Where did 12,000 plus coins go?
A Mysterious Disappearance?
Numismatic scholars are divided in their opinions as to why the 12,000 business strike
specimens of the 1895 Morgan Silver Dollar have vanished into history. Most believe that
the coins were never minted in the first place, and that this notation in the Mint accounting
ledgers is in error. Some believe that the coins were minted, but melted down for various
reasons. I even read one theory that proposes the coins were lost at sea in a shipwreck.
Why is it Called the "Morgan" Dollar when it Depicts Lady Liberty?
Actually, the Morgan Dollar (so-called because it was designed by George T. Morgan) has
been called much worse. When it first came out, it was an unpopular coin frequently
derided as the "Buzzard Dollar" because of the shape of the eagle's head and the eagle's
generally scrawny appearance. Another popular term for the Morgan was "Cartwheels."
The proper term for the coin type is the "Liberty Head" dollar.
Millions and Millions of Morgans!
Although the Morgan Dollar wasn't very popular when it first came out, we know today that
it is one of the most popular coin types in the entire U.S. coinage series. Why did this
change?
Finds of the month totals
1. 55 Ron Aldridge
2. 53 Gary Clark
3. 47 Mark Jenkins
4. 34 Rick Razor
5. 34 Mark Kulseth
6. 23 Sue Kaas
7. 17 Joe Sacco
8. 16 Phil Hoover
9. 13 Jon Gentry
10. 10 Jack Davis
The answer is, millions and millions of Morgans! More than half a billion Morgan Dollars
were made between 1878 and 1904, largely because of a law called the Bland-Allison Act,
passed by Congress in February of 1878, which mandated that the Treasury must buy 2 to
4 million troy ounces of silver per month!
Welcome new
members:
None this month
Dates to
Remember
Club Hunt
June 6, 9:00 AM
Stevens Pass Ski Area
No penny hunt
Board Meeting
June 16, 7:00 PM
Dave’s Diner
Club Meeting
June 21, 5:00 PM
Highland Park
Improvement Club
Cookies by Caroline
Townsend and Ron
Aldridge
Subject of the
Month
Favorite Finds from the
First Half of 2015
Club meetings now held
from 5:00 to 7:30 PM on
the third Sunday of each
month.
Chairs and tables must
be clean and stored at
the end of each club
meeting.
The "Silver Dick" Lobby
The Treasury was forced to buy this incredible amount of silver, which was flowing out of
the Comstock Lode in Nevada, because of a group of silver mine owners who had
formed a lobbying group. Led by Congressman Richard "Silver Dick" Bland, the silver
lobby was able to pass legislation that made the U.S. Treasury its biggest customer.
Page 2 of 8
Of course, the Treasury had to do something with all this silver, so it had the Mint
produce the Liberty Head, aka Morgan, Silver Dollars.
Morgan Dollars are Called the "Buzzard Dollars"
The Morgan Dollar wasn't very popular. The eagle was considered ugly, and the coin
was derisively called a "cartwheel" for its large size and weight, so the Morgan Dollars
sat in government vaults for many years, languishing in obscurity. Hundreds of millions
of them were melted down again through the years, and many, such as the 12,000 made
in 1895, are unaccounted for. But there were still plenty of Morgans to go around, since
they only circulated in a few small areas.
The Silver Certificate Secret
Sometime around 1960, certain coin dealers became aware that the Treasury was giving
out Morgan Dollars that were more than 80 years old, on a dollar for dollar basis, in
exchange for silver certificates. Many of the dealers were just after the silver bullion at
lower-than-market cost, but others realized the potential collector value of these 60 to 80
year-old mint state silver dollars. Tens of millions of Morgans were bought at face value
until 1964 when the Treasury shut this practice down.
The Public Finally Wakes up to the Beauty of the Morgan Dollar:
The Treasury had about 2.9 million Morgans left in 1964, mostly scarce Carson City
specimens, which the GSA put up for public sale via mail-bid auctions starting in 1972.
By 1980, as the supplies dwindled, the public finally became interested in the beautiful
Morgan Dollar. The real feeding frenzy came, however, when an amazing hoard of more
than 400,000 Morgans was found in the basement of Nevada miser LaVere Redfield
after his death in 1975.
Morgan Mania at Last:
The Redfield find got a lot of publicity, and as the U.S. population had become a lot more
familiar with the value of its silver coins in the years following the change from the silver
coinage to the clad coinage, the Morgan Dollar finally came into its own as a popular
collectible series. The publication of the "Comprehensive Catalog and Encyclopedia of
Peace and Morgan Silver Dollars" by Leroy Van Allen and George Mallis, (the VAM
book) also spurred significant collector interest in Morgans.
Wham VAM, Thank You Ma'am
The VAM book, so named for the initials of its authors, really boosted the values of
Morgan Dollars into the big time. This book lists all of the known die varieties of the
Morgan Dollar series, and got collectors to examine their coins more closely for detail.
Coins that were previously valued based on a given year's known mintage of X number
of specimens, now had sub-categories of specimens for that year based on die varieties.
These sub-categories were naturally more scarce than just any coin from that year, so
collectors who might previously have been satisfied with one specimen from each year
and mint, now had to have several from each to complete the "set."
The Holy Grail of the Morgan Dollar Series
For the rarest Morgan Dollar year/mint variety of them all, the 1895-plain, there are no
business strike specimens known to exist. And even though 880 Proof specimens were
struck according to Mint records, there are various estimates as to how many remain,
ranging from 75 to 80, to upwards of 500! Some of the Proof specimens have been
circulated, usually by accident because the Mint didn't always package them so nicely as
they do today, but no business strike example of the 1895 Morgan Silver Dollar has ever
been found.
Is it out there? Possibly. If so, if it ever comes to light, it will be one of the most
spectacular finds ever in American numismatics!
Reprinted from an article in the Coin-Collectors Forum.
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RegularNewsletter
club business
Title
Membership dues: ($25 individual, $30 family) 2015 dues must be paid by May 31, 2015 to be eligible for June
meeting contests.
Joys and Concerns: Paul Boyd‘s mother-in-law has become bed-ridden.
Awards: The Jug of Hope, worth $22 was won by Dave Frickelton. The Silver Dollar raffle was won by Caroline
Townsend. Neither the AOK nor the NoNo was awarded.
Correspondence:
 Issaquah Fun Fair, May 30, Pickering Barn
 NWTHC Hunt, June 19-21, Coeur d’Alene Fairgrounds
 PSTHC Lenny Phay Hunt, August 1, Reber Ranch, Kent
 OTHC Treasures in the Sand Hunt, September 11-12, Penticton BC
 Chelan County Fairgrounds Hunt, September 19, Cashmere
 WMDA Picnic and hunt, September 20, Mason Lake
 OPTH Silvery Moon Hunt, September 26, Bremerton Kitsap Fairgrounds
th
Vancouver Island Outing: Rick Razor is coordinating a no-host outing to Vancouver Island August 27 through the
th
30 . Information is attached at the end of the newsletter.
The club plaque, pictured above, has been hidden again. Clues so far are:
1. Eat some lutefisk and ride the zipline
Gold, platinum and silver testing and value assessment: At each meeting, Matt Mechler and Jon Gentry have a gram
scale and diamond tester, and Ron Aldridge can test gold and silver. Ron can also help with markings and hallmarks.
Scavenger Hunt Contest: The new hunt continues until the October meeting. The new hunt list can be found at the back
of this newsletter.
Web site: Please forward changes and updates to Sue Kaas [email protected].
Club hats and patches: Both are available at club meetings. Patches are $8 and hats are $15.
Selling table: The table is available for members to bring items they wish to sell or trade. No used appliances or cars are
allowed. Members who bring items must remove them at the end of the meeting.
Gold coin raffle: A new raffle started, and will continue until all tickets are sold.
Subject of the Month for May: Members Rick Razor, Jon Gentry, Gary Clark and John Shape share some of their
favorite toy cars, trucks and other vehicles, along with related items.
May Club Hunt: Fourteen people attended the hunt at the Steel Lake. Nobody found the lucky penny. The
weather was great, the park was busy, and participants had a great time!
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Detecting on public land: Always check with city, county, state or other websites for current metal detecting
regulations before you go. Washington State Parks Metal Detecting pamphlet and web site answers many
questions about which state parks are open and where to hunt. Check out their web site for more information:
www.parks.wa.gov
Reminder: Most grassy areas are too dry for digging. Unless it’s a well-watered park, limit digging to woods or
dirt areas.
Activity fees for non-members: $15 for club activities, $12 for hunts only.
Nickel hunt game: Three silver quarters were awarded for coins found the prior month. Game rules are:
Nickels must be found with a metal detector. For every 5 nickels submitted by a club member, a silver quarter
will be awarded. Nickels are accepted on a first come, first served basis – when you find a needed nickel, email
Sue Kaas at [email protected] to record your find – then bring your nickels to the next club meeting.
Pop can tab collection: In support of Ronald McDonald House, the club will be collecting pop tabs at club hunts
and meetings. One raffle ticket will be given for every 10 tabs donated by club members. Tabs will be sent to a
fellow detectorist, who will provide coins in exchange. Once the coins are received, raffle tickets will be drawn to
win the coins.
Club growth: The CTC is always looking for new members. Ideas for new activities, ways to help our
community or to promote our hobby are always welcomed.
Food bank donations: Donations are needed all year long to support local food banks. It is suggested that
each member bring at least one can of food to each meeting. Please ensure the items are unopened and not
past their pull dates.
Activity List: Consider how you might support activities in 2015.
Subject of the Month for June: Bring your favorite find for 2015 so far to share with the group.
Cookies for June: Cookies for the June meeting will be provided by Caroline Townsend and Ron Aldridge.
Upcoming Club Activities
th
Club Picnic at Lake Wilderness: August 9
th
th
Camping at Indian Flat: September 4 through the 7
Surf and Sand at Alki Beach: September 12
Camping at Pacific Beach: October 2
nd
th
through the 4
Moonlight Hunt at Lincoln Park: October 24
th
th
PageThanks:
5 of 8 A special thanks to the businesses thatNewsletter
Title
support and provide
donations to our hobby and
events:
Jeffery Sarvis, Treasure Dude Detectors, 206-229-3932
Bryan Geraghty, Northgate Coins, 206-364-0090
April Finds of the Month Summary
4 pts
3 pts
2 pts
2 pts
2 pts
2 pts
1 pt
1 pt
1884-O Morgan Silver Dollar
1877-S Seated Dime
1882 Indian Head Penny
1865 Indian Head Penny
1936-D Half Dollar
1910-S Barber Half Dollar
1929 Mercury Dime
Mercury Dime
Phil Hoover
Mark Jenkins
Ron Aldridge
Gary Clark
Mark Kulseth
Rick Razor
Sue Kaas
Joe Sacco
4 pts
3 pts
2 pts
1 pt
1 pt
1 pt
1 pt
1 pt
1 pt
1 pt
1 pt
18K Gold and Sapphire Ring
14K US Army Ring
Bracelet
1935 Captain Hawks Sky Patrol Pin
Stones in Metal Backing
Ring
Junk Floating Heart Charm
Tiffany .925 Earring
1870 or Earlier Fraternal Pin
Cub Scout Neckerchief Slide
1920s/1930s Hair Barrette
Gary Clark
Mark Kulseth
Jon Gentry
Ron Aldridge
Rick Razor
Bill Becker
Sue Kaas
Joe Sacco
Mark Jenkins
Jack Davis
Phil Hoover
4 pts
3pts
2 pts
2 pts
2 pts
2 pts
1 pt
1 pt
1 pt
1890-1916 Saloon Token - 10 Cents
1915 Canadian Dime
1940s/1950s Seattle Transit Token
1898 Canadian Silver 5 Cent Coin
Singapore 5 Cent Coin
1992 Iceland 50 KR
Family Fun Center Token
1947 Canadian Dime
Canadian Toonie
Gary Clark
Mark Kulseth
Ron Aldridge
Mark Jenkins
Sue Kaas
Rick Razor
Joe Sacco
Phil Hoover
Jack Davis
4 pts
4 pts
4 pts
2 pts
2 pts
1 pt
1 pt
1 pt
1 pt
1/4 of a Miniball Mold
1911 Seattle Dog License
Scent Bottle with Metal Work
Early 1900s Sterling Thimble
Ornamental Brass Piece
Monopoly Iron
Seattle Aquarium Token
Pocket Knife with Silver Cover
1920s/1930s Plymouth Hub Cap
Mark Jenkins
Gary Clark
Rick Razor
Ron Aldridge
Bill Becker
Sue Kaas
Joe Sacco
Mark Kulseth
Phil Hoover
May Finds of the Month Summary
4 pts
3 pts
2 pts
2 pts
2 pts
1 pt
1 pt
1 pt
1 pt
1 pt
1818 Large Cent
1909 V Nickel
1902-S Barber Dime
1993 Kennedy Half
1902 Barber Dime
1953-D Wheat Penny
1941 Mercury Dime
1954 Nickel
1941 Mercury Dime
1910-S Wheat Penny
Ron Aldridge
Carol Collins
Gary Clark
Jack Davis
Mark Jenkins
Jon Gentry
Allan Henneberry
Rick Razor
Mark Kulseth
Phil Hoover
4 pts
3 pts
2 pts
1 pts
1 pts
1 pt
1 pt
1 pt
1 pt
Tiffany& Co. Platinum Ring
Texas Rangers Company A Badge made from Peso
22K Gold Ring
Rhinestone Necklace
1858-1880 Officer's A Button
Cavalry Dress Hat Emblem
Men's Silver Ring
Early 1900s Watch Fob Chain
1930s/1940s Silver Earring
Mark Jenkins
Mark Kulseth
Tom Evanson
Rick Razor
Jon Gentry
Matt Mechler
Gary Clark
Ron Aldridge
Phil Hoover
4 pts
3pts
2 pts
2 pts
2 pts
1 pt
1 pt
1 pt
1938 King George Silver Dime
Northwest Merchants Convention 1929
English 50 Pence Coin
1943 Canadian Dime
1957 Peru Dollar
1958 Canadian Silver Quarter
Ellwest and Jolar Theater Token
Harry Kopp's 5 Cent Good For Token
Allan Henneberry
Gary Clark
Rick Razor
Mark Kulseth
Tom Evanson
Ron Aldridge
Phil Hoover
Mark Jenkins
4 pts
3 pts
2 pts
1 pt
1 pt
1 pt
1 pt
1 pt
1 pt
1 pt
1 pt
1 pt
1 pt
1942 3 Inch 50 Caliber Shell Container
1906-1912 Alaska Pacific Steamship Medallion
Menorah Candle Holder
1910s Valve Stem Cap
VW Bus
Old Canning Jar Lid
Cavalry C Button
1992 King County Dog License
Part of Pocket Watch Case
Make-up Compact
Circa 1800s Pocket Watch Case (Coin Silver)
Wrench
1930s/1940s SPD Junior Safety Patrol Badge
Sue Kaas
Gary Clark
Rick Razor
Jon Gentry
Allan Henneberry
Bill Becker
Matt Mechler
Jack Davis
Mark Jenkins
Mark Kulseth
Ron Aldridge
Tom Evanson
Phil Hoover
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Treasure Hunter’s Code of Ethics
I WILL always check federal, state, county and local laws
before searching. It is my responsibility to “ know the
law.“
I WILL respect private property and will not enter private
property without the owner’s permission. Where
possible, such permission will be in writing.
I WILL take care to refill all holes and try not to leave any
damage.
I WILL remove and dispose of any and all trash and litter
that I find.
I WILL appreciate and protect our inheritance of natural
resources, wildlife and private property.
I WILL as an ambassador for the hobby, use
thoughtfulness, consideration and courtesy at all
times.
I WILL work to help bring unity to our hobby by working with
any organization of any geographic area that may
have problems that will limit their ability to peacefully
pursue the hobby.
I WILL leave gates as found.
I WILL build fires in designated or safe places only.
I WILL report to the proper authorities any individuals who
enter and or remove artifacts from federal parks or
state preserves.
President:
Vice President:
Treasurer:
Secretary:
Board Members:
Sergeant at Arms
Membership:
Mail dues to:
Newsletter:
Email submissions to:
Meetings:
Mark Kulseth
Mark Jenkins
Ralph Shape
Joe Sacco
Loraine Robbins
Garry Robbins
Jon Gentry
Sue Kaas
John Shape
Donna Shape
253-804-3513
7109 Hazel Pl. S.E.
Auburn, WA 98092
Sue Kaas
206-604-6508
[email protected]
Third Sunday of each month
5 PM at the Highland Park
Improvement club
1116 S.W. Holden St., Seattle
Located in West Seattle 1 mile
west of the 1st Ave. S. bridge.
Guests are always welcome!
1938
1938 D
1938 S
1939 D
1941 S
1942 D
1942 S
1943 D
1944 D
1944 S
1945 D
1946 S
1947 D
1948 D
1948 S
1949 D
1949 S
1950
1950 S
1951
1951 D
1951 S
1952 D
1955
1955 D
1956
1958 D
1961
2009 P
Game Rules: Nickels must be found with a metal detector. For every 5 nickels submitted by a club member, a
silver quarter will be awarded. Nickels are accepted on a first come, first served basis – when you find a needed
nickel, email Sue Kaas at [email protected] to record your find – then bring your nickel to the next club
meeting. An updated list of needed nickels will be available at club meetings and distributed in the monthly
newsletter.
Page 7 of 8
Title
CASCADENewsletter
TREASURE
CLUB
2015 NAME _________________________
SCAVENGER HUNT
–
MAY - OCTOBER
ALL ITEMS [1] POINT EXCEPT BONUS [3] POINT ITEMS
OPEN COINS
RED PULL TAB
SUSPENDER PIECE
ROSEBUSH TAG
DOOR KNOB PLATE
PLATED / JUNK RING
HOSE NOZZLE
RIFLE CASING / CARTRIDGE
AX HEAD
METAL BUTTON MILITARY
PORCELAIN / GLASS BUTTON
RAIL ROAD SPIKE
SQUARE NAIL
COPPER WIRE
BICYCLE NAME PLATE
TOY CAP GUN
POCKET KNIFE
DOG TAG DATED
SCOUT ITEM
TAX TOKEN WASH. STATE
GAME TOKEN
SEATTLE TRANSIT HALF MOON TOKEN
GOOD FOR TOKEN
BRASS SCREW/ NAIL
TOOTSIE TOY
LEAD TOY
JEWELRY
1940 - 58 WHEAT PENNY
1909 WHEAT PENNY
1860 – 1909 INDIAN HD PENNY
SILVER WAR NICKEL
V NICKEL
BUFFALO NICKEL
1890 – 1915 BARBER DIME
1916 - 40 MERCURY DIME
ROSIE DIME 1950 - 60
STAND LIB QUARTER W/ DATE
BICENTENNIAL QUARTER
PRE 1900 BARBER HALF
WALKER HALF
KENNEDY HALF
CHINESE CACHE COIN
CANADIAN SILVER COIN
CANADIAN LOONEY
CANADIAN LG CENT
MEXICIAN COIN
BRITISH COIN
SPANISH REALE
OTHER PRE 1960 FOREIGN COIN
WASHINGTON STATE QUARTER
SEATED US DIME OR QUARTER
1973 US DIME
ITEMS ENTERED ARE FOR PREVIOUS MONTHS DETECTING
.925 0R STERLING ITEM
10K JEWELRY ITEM
14K ITEM
18 K GOLD RING
BRACELET
GOLD CHAIN
COIN PURSE
WATCH
1st place winner is outright
2nd & 3rd place will be drawn
from all participant entries.
Use first two letters of meeting month you turn
items in as marker for found items. [Ma for MAY]
Use this sheet for all months
BONUS 3 POINT ITEMS
GOLD COIN
SILVER DOLLAR
AYPE 1909 ITEM
LARGE CENT U.S.
All items must
ENGRAVED GOLD RING
be found in WASHINGTON STATE & Shown as found
No Host Outing
Vancouver Island
August 27th – 30th
Everyone is welcome! Expected activities include:






Low tide hunting on a beach where silver has been found
Areas with lots of history
Great grass hunting
Large parks
School grounds
An old dump area for diggers
Cities included are:




Duncan
Nanaimo
Courtenay
Comox
Some areas are expected to be virgin ground
Don’t forget you will need a passport or an upgraded
driver’s license
For more information, contact Rick Razor at 425-228-9189