Volume 11, Number 52, December 28, 2008
This week we open with an update on Howard Daniel's Viet Nam catalog, and a review of a new book on the history of finance that may be of interest to researchers. We also have more information on a number of topics raised earlier, including the purported CSA silver ingots, banknotes contained in books, and the New York Numismatic Club.
In the news this week we learn of the death of famed sculptor Robert Graham and finally get to see a picture of the "Buffalo Nickel clay model" on display in Woodbridge, NJ.
My apologies to David Lange for running last week's ad with an obsolete mailing address. The ad reappears this week with a corrected address.
To learn about encounters with collectors Harold Bareford and R.L. Miles, read on. Have a great week, everyone, and Happy New Year!
Numismatic Bibliomania Society
Last week Howard Daniel recounted his tribulations with the printer of his upcoming Socialist Republic of Việt Nam Coins and Currency catalog. With this week's update it looks like things may be back on track.My people in Việt Nam have negotiated a lower price for the total cost of my Socialist Republic of Việt Nam Coins and Currency catalog. I wanted to go with another printer but the person who recommended the printer is an important numismatist and he would lose a great amount of "face" if I went elsewhere. This numismatist is also involved in the creation of the first numismatic society in Việt Nam, so I will bite the bullet a little to have his catalog printed at a little higher expense and the situation in Việt Nam will calm down.
The printer also lost some face in Việt Nam when I went public with the scam and they came to the table to talk of a solution. They now know I'm not a pliable rich foreigner who will pay any price for my catalog. And I could have two more catalogs ready next year and the printer wants this business too, so they are willing to be much more cooperative. Let's keep our fingers crossed that the deal stays together.
Arthur Shippee forwarded this review from The New York Times which he found noted in The Explorator newsletter. -EditorAnd in his latest book, “The Ascent of Money” — humbly subtitled “A Financial History of the World” — Ferguson takes us on an often enlightening and enjoyable spelunking tour through the underside of great events, a lesson in how the most successful great powers have always been underpinned by smart money. “The ascent of money has been essential to the ascent of man,” he writes, making a conscious reference to the BBC production he loved as a boy, Jacob Bronowski’s “Ascent of Man.”
“Behind each great historical phenomenon there lies a financial secret,” Ferguson says. He goes into fascinating detail about how “it was Nathan Rothschild as much as the Duke of Wellington who defeated Napoleon at Waterloo” by selling bonds and stockpiling gold for the British Army. The richest bankers on the Continent in the 19th century, the Rothschilds became known as die Finanzbonaparten (the Bonapartes of finance). And, as Ferguson argues, they also played a crucial part in the South’s defeat in the Civil War by declining to invest in Confederate cotton-collateralized bonds.
Imperial Spain amassed vast amounts of bullion from the New World, but it faded as a power while the British and Dutch empires prospered because they had sophisticated banking systems and Spain did not. Similarly, the French Revolution was made all but inevitable by the machinations of an unscrupulous Scotsman named John Law, whom the deeply indebted French monarchy recklessly placed in charge of public finance.
“It was as if one man was simultaneously running all 500 of the top U.S. corporations, the U.S. Treasury and the Federal Reserve System,” Ferguson writes. Law proceeded to single-handedly create the subprime mortgage bubble of his day. When it collapsed, the fallout “fatally set back France’s financial development, putting Frenchmen off paper money and stock markets for generations.”
To read the complete review, see: Follow the Money (http://www.nytimes.com/2008/12/28/books/review/Hirsh-t.html)
We continue to enjoy The E-Sylum and thank you for producing it.
I thought I would mention my wife Jane's article about a newly attributed Baltimore Civil War token appeared in the Winter 2008 issue of The Civil War Token Journal. It is titled "Proof at Last - Ahern & Broadbent Civil War Token". Jane searched many Civil War era newspapers and other sources in order to locate the advertisements when the company began and ended, as well as detailed histories about Mr. Ahern and Mr. Broadbent. Since there was not a city directory for Baltimore in 1864, it was not possible to merely locate the company in a directory.
We are working with George Fuld and John Ostendorf on Baltimore tokens which should be added to the book on Civil War tokens. John has taken on a large task being the coordinator, and has been working very hard.
I'm glad Russ brought this article to our attention. I'd actually scanned the image of the issue's cover last week, but ran out of time to include it in The E-Sylum. This issue of The CWTJ has a number of good articles in addition to Jane Sears' piece. One example is Dave Perkins' article on Coins, Tokens and Currency Circulating in Detroit, Michigan During the 1860s". Specialty club publications are treasure trove of great numismatic research and information. -Editor
Everyone at Whitman was saddened to learn about Cornelius Vermeule's passing. We were honored to work with him on the new edition of his Numismatic Art in America last year.
From time to time over the course of the project, I would receive one of Vermeule's trademark "postcards in the round" --- instead of writing from left to right in traditional fashion, he would start at a point and spiral his text around until its conclusion. A unique way of communicating, from a decidedly unique communicator!
Internationally-known sculptor Robert Graham died this week. His grand public works are on view in cities around the world. Graham's numismatic works include the 1984 Olympic Silver Dollar and the National Medal of Arts. -EditorRobert Graham, a California sculptor whose works were incorporated into civic monuments including the Franklin Delano Roosevelt Memorial in Washington, D.C., has died at the age of 70.
Graham, who also created monuments to boxer Joe Louis and jazz legends Charlie Parker and Duke Ellington, died on Saturday at Santa Monica UCLA Medical Center and Orthopaedic Hospital.
At his side were his wife, Oscar-winning actress Anjelica Huston, and other members of his family.
"Robert was an amazing sculptor who forever shaped the presence of sculpture art throughout California and the world," California Gov. Arnold Schwarzenegger said in a statement. "His work was truly influential and he will forever remain an icon in this state."
Graham, born in Mexico City, lived much of his life in California and gained fame for designing a ceremonial gateway for the Los Angeles Memorial Coliseum for the 1984 Olympics.
To read the complete article, see: Sculptor Robert Graham dies in California at 70 (http://www.reuters.com/article/newsOne/idUSTRE4BR27X20081228)
The National Medal of Arts was designed by internationally-renown sculptor, Robert Graham, whose design was chosen by a special committee of the National Council on the Arts from among 31 designs submitted in a national competition.
The National Medal of Arts is the highest award given to artists and arts patrons by the United States Government. The National Medal of Arts is awarded by the President of the United States to individuals or groups who, in his judgment, "...are deserving of special recognition by reason of their outstanding contributions to the excellence, growth, support and availability of the arts in the United States."
For more information on the National Medal of Arts, see: National Medal of Arts (http://www.nea.gov/honors/Medals/)
For more information on Robert Graham's work, see: Robert Graham (http://www.robertgraham-artist.com/)
With respect to the so-called 1863 CSA ingot, it is almost certainly a recent fantasy concoction. The lettering and numbers do not resemble diesinking examples from the period. There is an abundance of fantasy CSA (and Union) Civil War items like this. The CSA was "silver-poor". At the time of their defeat, their tiny remaining treasury consisted almost exclusively of Mexican silver coinage, with which disheveled, discharged Confederate soldiers were paid by the victorious Union generals in charge of disbanding the Confederate Army.
Harold Levi writes:
I have seen similar Confederate bars, two images are attached. Earlier this year, Pierre Fricke contacted George Corell, my research associate, about two so-called Confederate silver bars. After some e-mail and face-to-face discussions between Corell and Fricke, images of the bars were passed to Fred Holabird, an expert on gold and silver bars. The response was what was expected, they were obvious fakes.
I spent over six years in research before publishing my book on the Confederate cent, and continue to research today. George Corell has spent nearly thirty years researching a sterling silver Confederate one-fourth coin he owns. During all of this research, neither of us had seen, read or heard of Confederate silver bars until these two appeared.
The Confederacy had both gold and silver bars, which were of Federal (Union) origin. Corell’s research of mint records show that both silver and gold bars were in the New Orleans Mint. Gold bars were in the Dahlonega Mint and, presumably, in the Charlotte Mint. All of this being at the time the Confederacy took control of these mints. C.G. Memminger, CSA Secretary of the Treasury, was opposed to the time and expense it would take to recast these bars or to melt and cast Federal specie. Memminger’s view was that the bars and specie could be used in Europe as they were. The existence of original Confederate gold or silver bars is doubtful.
George Corell adds:
Another thing missing, which I mentioned to the gentleman that contacted me concerning his CSA bars, is the noticeable lack of an Assayers stamp.
Fred Holabird writes:
On the CSA ingots, it has been a hot topic recently. One showed up at the Baltimore ANA in August and it was reported that three more showed up in Michigan at a coin show there. These ingots have not been tested or analyzed by anyone with knowledge about antiquarian ingots to my knowledge. I have seen scans of two (maybe the same piece?), including one submitted to the History Detectives television show, for which I was consulted.
There are several suspicious things about these.
a. They resemble no known legitimate ingots
b. They are completely new to the historical record
c. They have come into the marketplace surreptitiously
d. The markings on the ingot have everything wrong with them, and little correct
My cautious and preliminary opinion is that they were made to fool people in an innocent way, in the same manner a souvenir copy, imitation, or creation of an antiquarian piece is made and rendered into the marketplace. Many of us have thoroughly researched ingots produced during the Civil War, primarily from Dahlonega.
Below are the images submitted by Paul Horner (top) and Harold Levi (bottom). The ingots have similar wording, but very different lettering styles. -Editor
Rich Mantia forwarded the following holiday greeting to NBS and numismatic bibliophiles. -EditorI arrived home today, the 22nd, to find that my Christmas had arrived early. The mailman delivered my presents, which consisted of two packages, being the acceptance envelopes from The Numismatic Bibliomania Society of mine and my sons' memberships. Thank you to all for insisting that I join, it has been overlooked for too long.
In addition, it followed another wonderful moment, which was my son learning to write for the first time as he turns four and spelling his name in a Christmas card that he gave me. Words can't express that gift!
He'll be reading The Asylum and E-Sylum in no time, but for now I just have him using his crayons to marble the endpapers in some large paper Chapman's and add color to some Heath Counterfeit Detectors. On behalf of my family to you and all the readers, have a safe, healthy, and happy new year. Gratefully with Warmest Wishes, Richard and Giovanni Mantia
Welcome aboard! Color between the lines, Giovanni! -Editor
THE BOOK BAZARRE
Neil Shafer forwarded the following thoughts on banknotes contained in books. -EditorAround 1963 I was able to obtain a couple of volumes on Danish numismatics by J. Wilcke. The full set was around 7 or 8 volumes if memory serves me correctly, and these two volumes have notes tipped in at designated places. These came from the R.H. Rosholm library that was sold piecemeal in Chicago I believe, and through a friend I was able to secure these two books.
The volume entitled Specie-, Kurant- og Rigsbankdaler covering the period from 1788-1845 had tipped-in reprints (from original plates as I understand it) of notes in two groups. The first is the complete 1819 issue starting at p. 328 and proceeding on consecutive pages: 100, 50, 10 5 1 Rigsbankdaler. The second at pages 422 and 424 consists of only two notes, a 50 Rigsbankdaler of 1834 and a 5 of 1836. All of these have four lines of text and dates on their plain backs indicating that they belong to this particular book.
The volume entitled Solv-og Guldmontfod `845-1914 is a thinner book but contains more notes than the other one. Starting on p.74 and in scattered locations are the following uniface prints: 100 Rigsbankdaler face 1845, then the back of that note, followed by the back of the 50 of 1850. Then come face and back of the 20, also of 1850. A few pages later are face and back of the 10 of 1860, also the face of the 5 of 1863.
Further into the book, starting on p. 212, comes the 500 face of 1875; a little later the back appears. This is immediately followed by the 100 face and back of 1875, also the 50 face and back and 10 face of the same issue. Then appear face and back of the 50 of 1883 and 100 of 1888. These are followed by face and back of the 10 of 1891 and 5 of 1898.
All of the above have yellow text tying them to this particular volume, as did those from the earlier book. But the last two notes in this book are truly extraordinary, as they are uniface 500 and 100 dollars pieces from the Bank of St. Thomas. These are made from plates engraved by New England Bank Note Company, and neither print has any text at all on the back.
I have seen one or two of these offered on the banknote market at very substantial prices. I believe they would be recognizable as coming from this book because of the rust spots on the plate showing up on the note as some dark spotting, lightly on the 100 but more so on the 500.
I do not believe any other of the Wilcke volumes has any tipped-in note images.
Pete Smith forwarded the following research query. -EditorIn a current movie The Spirit, Eva Mendez plays the character of "Sand Saref" based on the cartoon from the 1940's. I have a question for cartoon authorities among our readers. Was her name an intentional play on the phrase sans serif? This dovetails with research I am currently doing on the country of San Seriffe.
With respect to the New York Numismatic Club, I had fond memories of their annual March New York Metropolitan Coin show held at the then Park- Sheraton Hotel, up the street from Stack's, at 57th St and 7th Ave. I recall distinctly that at a show circa 1961, President Martin Kortjohn approached me on the bourse floor and took me aside. He warned me that I would be escorted out if I continued to show a 1797 half cent which I had for sale. Only bourse dealers were permitted to sell coins.
At this show or perhaps the 1962 show , I was up on the balcony overlooking the bourse floor where the exhibits were placed. I gazed for quite a while at a magnificent multi-case display of classic American coinage in the highest grades, my nose almost touching the case glass. "Do you like what you see?" asked a formally-dressed elderly man about 5' 6" who was looking over my shoulder. He introduced himself as Harold Bareford, the owner of the display.
The name meant nothing to me at the time, but he sure had great coins - classic early federal coinage I aspired to own someday...and now do. In 1961-62, R.L. Miles had his entire collection on display on this balcony. Word was, and as evidenced by many of the early copper coins on display, Miles cleaned most of his coins - an all-too-common occurrence in those days when toning was out and "bright" was in. Shortly thereafter, Miles auctioned his extensive U.S. collection thru Stack's.
I have seen two sizes of the same design, with the smaller being much more available than the larger. Both made of the same bronze or whatever composition the metal is. I mention this because I do not recall having read any reference to a second size, but I have absolute knowledge of this.
Dan Hamelberg writes:
A word about the suggestion for a Bush "shoe throwing medal" in last week's E-Sylum. We should be careful on injecting political references in E-Sylum topics. Someone will take it the wrong way. I know you qualified the comments, but your comparison of the circumstances resulting in the production of the Huey Long Toilet Seat Medal and the shoe throwing incident with the President is loose at best.
Long was most likely punched out by a disgruntled citizen. Further, it would not be unreasonable to assume that Long may have said something in the bathroom to deserve his treatment. The circumstances surrounding the Baghdad incident are hardly similar. We may certainly disagree on the reasons for the U.S. military occupation of Iraq, but at least a vote was taken in Congress, and it appears for now that no payoffs or bribes were involved in the process. Also, the shoe thrower was most likely not a US citizen, and probably motivated by his own agenda.
We should try to keep the E-Sylum apolitical. The next time you have an "opportunity to discuss one of [your] favorite medals," you might think about keeping the motivation free from politics.
But since you brought it up, how about a "Free Construction Medal" in honor of the great Senator from Alaska. Or, who wouldn't like a Cheney "Shotgun Medal"? How about an Illinois governor's medal commemorating "Pay for Play"? Then of course, we could design a New York Governor medal of.......well, we probably don't want to go there.
George M. Vanca of Santa Clarita, CA writes:
Any "Heroism" Medal should go to President Bush for his quick reflexes and good sense of humor over this incident. Had the "heroic" journalist, Muntader al-Zaidi dared throw a shoe at Saddam Hussein, neither Mr. al-Zaidi, nor his family, would be around today to receive any such recognition.
When a medal's purpose and subject is political, it's hard to keep that out of the discussion. The best we can hope for is to be as even-handed as possible. When several numismatists began discussing possible medal topics following the incident, I put nothing in The E-Sylum; it was only when newspapers reported that someone had actually given the shoe-thrower a medal that I decided to report it, and that's when the parallels to the Huey Long medal came to mind. I could dig through my emails and publish some of the other medal suggestions, but I'll let the topic drop.
The next item is also of an unavoidable political nature. Let's all heed Dan's advice and keep our comments off politics and on numismatics. -Editor
If any of our readers hear any word about the new medal, please let us know. Meanwhile, here's a nice piece Joe wrote about the history of the Official Inaugural Medal. It's in the web site of Lori and Steve Ferber.
History of the Official Inaugural Medal (http://www.loriferber.com/Inaugural_Medals.htm)
THE BOOK BAZARRE
On December 22 the Rocky Mountain News published an article about their September 2, 1904 edition which described the opening of the Denver Mint. Here are some excerpts. -Editor"The new United States mint, located at the corner of West Colfax avenue and Evans street (now Delaware) was formally taken possession of by government officials yesterday morning. Director of the Mint Roberts, now in Denver on his way to Washington from Alaska, was master of ceremonies at the dedication.
"The exercises took place on the roof of the new building. They were simple and brief, and the new flag which will hereafter fly from the great pole on the top of the new building was raised by three veterans of the civil war."
Maybe it was the fact that the mint was another over-budget, much-delayed government project that pushed it to the back of the paper, as if to the back of everyone's minds. The site for the new mint was bought in 1896 and construction began in 1897.
Before departing the same night on the Union Pacific, Director of the Mint Roberts prodded state officials about production.
Beginning in 1860, to handle the millions of dollars in gold and silver pouring into the city from the mines, the enterprise of Clark, Gruber & Company pressed gold coins and ingots in an office at 16th and Market streets. In 1863, that became the United States Assay Office. But even though the building was equipped with coining machinery, not a single coin was ever struck there.
Congress postponed the making of coins in Denver, citing, according to one official, " ... the hostility of the Indian tribes along the routes, doubtless instigated by rebel emissaries (there being a Civil War) and bad white men."
To read the complete article, see: Sept. 2, 1904: Coins begin rolling at mint (http://www.rockymountainnews.com/news/2008/dec/23/sept-2-1904-coins-begin-rolling-mint/)
In previous issues we discussed a clay model by James Earle Fraser that was to be displayed in Woodbridge, NJ. The model was said to be a prototype for the U.S. buffalo nickel. E-Sylum readers had a lot to say about Fraser's models. I was curious to see the piece in question and luckily, this week a newspaper published an article about the exhibit which includes an image of the model.The original clay mold used to mint the first 1913 Indian Head Buffalo nickel designed by sculptor James Earle Fraser has found its way back home after approximately 80 years.
Yoi! - This is what people think is a Fraser original for the Buffalo nickel?? Here are some excerpts from the article. -Editor
The thick, clay nickel made of terra cotta was unveiled in front of township officials and members of the Historical Association of Woodbridge Township and the township Historical Preservation Commission earlier this month.
The owner of the historic nickel, Gordon Henderson, let the township borrow the piece to allow township residents and visitors to observe a piece of history.
"It's still my piece," Gordon Henderson reminded township officials at the unveiling.
Henderson, a third-generation stained-glass artist, said he could have sold the piece along the way, but had realized the importance of the terra cotta industry in Woodbridge.
Henderson, who will turn 90 years old in January, said he remembers seeing the original 1913 Indian Head Buffalo nickel, which he has held onto all these years, when he was a young boy.
"It was always around the house on the shelves," said Henderson, who grew up in Rutherford. "My father had acquired it around 1929 and I have kept it in storage all these years."
Henderson said he became a collector like his father.
"I displayed my work and the coin at the [Jane Voorhees] Zimmerli Art Museum at Rutgers University in New Brunswick," he said.
Click on the image to see a larger version. Now that I can see the piece in question, it sure doesn't look like a coin study to me. I asked Roger Burdette, author of Renaissance of American Coinage, and he submitted the following thoughts. -EditorAlthough it is not unusual for local color articles to include a bit of exaggeration in promoting area history and events, the Sentinel article seems to have leapt off a precipice. The article says nothing about the terra cotta piece being signed by Buffalo nickel designer James E. Fraser, nor does it indicate any link between the piece and the U.S. Mint. Rather, it leaps to a conclusion with no factual basis.
The oblique angle photo accompanying the article shows a left-facing Indian portrait in exaggerated relief, compared to the nickel’s right-facing, low relief portrait. Additionally, the photo shows the manufacturer’s name “S.I. Terra Cotta L. Co. Woodbridge” along the lower bevel of the piece. The portrait is crudely modeled and certainly not intended for close examination, let alone use on a coin.
Left: terracotta decorative medallion;
Right: model for the Buffalo nickel by James Fraser.
There is no connection between the crude clay medallion and the Buffalo nickel.
A non-numismatic writer can be excused minor liberties, however it is amazing that no Woodbridge-area coin collectors were consulted who could have helped avoid an embarrassing situation for the town.
What the Sentinel article claims is the “…original clay mold used to mint the first 1913 Indian Head Buffalo nickel” is actually a terra cotta ornamental medallion. These were made for use as decoration on the façade of buildings, particularly banks and financial companies.
There are several similar ornamental medallions on the U.S. Mint headquarters building in Washington, DC. They are, of course, much better done and closely resemble several real coins.
To read the complete article, see: Town celebrates antique coin mold (http://ws.gmnews.com/news/2008/1223/front_page/004.html)
Alternate and proposed currencies are an interesting numismatic topic, and there always seems to be another one popping up somewhere in the world. Lately, the so-called "Amero" currency is back. Conspiracy theorists have claimed that a new currency is being prepared for North America. Earlier we discussed Daniel Carr's Amero pattern coins. This week I came across a claim that Amero banknotes exist. -EditorTo the chagrin of the government, I have obtained new "AMERO" paper currency notes! You know, the "AMERO" . . . . the new currency that is going to replace the US Dollar, The Canadian Dollar and the Mexican Peso? Yea, the new currency that all three governments claim doesn't exist. . . . I have it.
In September, 2007 - over a full year ago - I first broke the story about AMERO coins being minted secretly at the Denver Mint. After that story ran, the Denver Mint announced on its web site that they were closing public tours of the Mint for 10 - 14 days in order to make renovations to the tourist area of the mint.
My sources inside the Mint, however, reported Treasury officials were outraged that someone had leaked info about the AMERO to me and they closed the Denver Mint to the public so as to secretly move the AMEROS out of the Mint to prevent further leaks.
In October, 2008, I received word that the U.S. government shipped 800 Billion AMEROS to the China development bank. I did a story on that (here) and obtained an actual AMERO coin from that shipment!
I placed a video of the coin on YouTube, showing the coin and explaining that there is a deliberate effort underway at the highest levels of our government to intentionally exhaust the dollar as a currency. Over 600,000 people worldwide watched that video.
Two days ago, YouTube/Google notified me that my video had been deleted and my account permanently closed at the request of the United States Treasury Department. The Treasury department told YouTube/Google that my video was "destabilizing the U.S. Dollar and was thus a threat to national security."
Here we are, just two days later and my sources have once again come through; this time with proof the government is secretly printing new AMERO paper currency.
Not only do I have the 50 AMERO note, give look at the 20 and 100 AMERO notes below!
This AMERO currency will allow the government to literally grab 90% of all our life savings and owe 90% less than they presently do in one fell swoop! They get out of debt and the rest of us are left totally destitute. Broke. Busted. Poor. Helpless.
We all know the Bureau of Engraving and Printing makes U.S. paper money, not the U.S. Mint. So where did these Amero note images come from? According to Wikipedia,
On December 3, 2008, Hal Turner's blog featured what he claimed were genuine Amero bills. He displayed photographs of purported 20, 50 and 100 Amero notes. Turner did not identify how he obtained the images, saying only that "once again, my sources have come through." He claims that the "new currency is already being printed and quietly distributed around the world.-Editor
*** URGENT *** NEW "AMERO" PAPER CURRENCY EXPOSED! (http://community.allhiphop.com/go/thread/view/12461
To read the earlier E-Sylum Amero articles, see:
CONSPIRACY THEORISTS HOME IN ON AMERO FANTASY COINS (http://www.coinbooks.org/esylum_v10n36a23.html)
MORE ON DANIEL CARR'S AMERO COINS (http://www.coinbooks.org/esylum_v10n37a12.html)
MORE ON THE AMERO: MEXICO'S VINCENTE FOX DISCUSSES TRADE UNION (http://www.coinbooks.org/esylum_v10n41a17.html)
This article may be of interest for The E-Sylum. Correct me if I'm wrong, but I believe they use large quantities of Sac Dollars in Ecuador.
Yes, we've discussed this subject before. Ecuador's standard currency is the U.S. dollar, and Sacagawea dollar coins are popular there. -EditorEcuadorean President Rafael Correa said on Saturday it would be "really stupid" to abandon the U.S. dollar and vowed to keep the greenback as the OPEC nation's official currency.
Economists fear the leftist Correa will scrap the dollar to better deal with an economy reeling from plummeting oil prices and limited foreign credit after he defaulted on $3.8 billion in sovereign bonds over illegalities charges.
"It will be really stupid to scrap the dollar," Correa said during his weekly media address. "Our government has done more than anyone to protect the dollarized (economy)."
The dollar, adopted as Ecuador's currency in 2000 to halt devaluations after a crippling financial crisis, is widely popular among Ecuadoreans who see it as an anchor of economic stability.
Here's an excerpt from our earlier article on Sacagawea's in Ecuador. -Editor
Somebody at the mint, perhaps tired of stubbing their toes on bags of Sac dollars in the vaults, had a brain storm and commencing on April 15, 2002 the U.S. began sending some $500 million of the unwanted dollar coins to Ecuador for use as circulating currency. And, wow, did they circulate! So much so that in less than a year they became the most popular currency item in the country."
Many uninformed Ecuadorians believe the central device on the obverse is that of an Ecuadorian woman from the mountains.
To read the earlier E-Sylum article, see: SACAGAWEA DOLLARS IN ECUADOR (http://www.coinbooks.org/esylum_v10n34a16.html)
Civil War coins offer intriguing North and South subplots. Put in context of America’s worst war, the story of Confederate coins, US coins, Civil War tokens, and other Civil War money is described and illustrated.