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28 May 2017

Edibles as Currency

Young Numismatists Exchange | user_8029

One of the most common types of barter items are edible items. Everybody needs food to survive, and it is one thing that everybody needs to buy and trade for, so it has entered our exchange system quite often throughout history. The three that will be focused on in this article are bread, seasonings and tea.

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28 May 2017

Furs and Skins as Currency

Young Numismatists Exchange | user_8029

The earliest currency was not metal or paper, as the currency we typically use today is. In ancient times, before the invention of the coin by Lydia, the medium of trade used was much more practical for them. The currency used then was usually the fur or skin of an animal that was hunted. These basic currencies were so effective that they did not, generally, fade away as currency until the late 18th century.

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25 May 2017

Our First Student-Members-Only Auction

Young Numismatists Exchange | Dave_75466

The Legacy Knights Numismatic Society ended the school year by holding its first annual student-members-only auction, which turned out to be a rousing success!The idea came about when I was pondering how to fairly distribute donated items among our student members.  The donated reference books went to our school library to create a numismatic reference section.  That way they are always available during the school year, not only for our Society members, but also the rest of the student body, as a way of perpetuating awareness of our numismatic group.But what about the other donated items?  We have 13 members; what would we do with something that couldn't be divided evenly by 13?  How would we match these items to the persons who actually had an interest?  And what if more than one student wanted an item; how do we give everyone a fair shot at something?Thus was born the First Annual Legacy Knights Numismatic Society End of the Year Student Members Only Auction.Up front, I eliminated the idea that they would use real money for bidding.  Not so much to keep the richest kid in the room from winning all the bids, but because the items up for bid were all donations to be given to the kids, or earned as awards for achievements, etc.; not sold to them.I could either have them bid using balance sheets, or I could use "play money".  I opted for the latter, as it was more fun.  For "security reasons", I opted to design and print my own, rather than buy some online.The auction was conducted using custom-made "Knights Payment Certificates" (KPC, Series 171), which were denominated in British pre-decimal Pounds, Shillings, and Pence: 12 pence to a shilling, 20 shillings to a pound.  We used eight different denominations of notes.Now why in the world, you may ask, would I make third graders use pre-decimal British pounds, shillings, and pence?  Well, because we are, after all, Knights; and shillings of one variety or another were once used in many European countries where knights lived.  But more practically, the British system of £/s/d circled the globe with the British Empire; and our student numismatists, all of whom are learning to identify world coins, would be well served if they could understand that system.  And besides, I just thought it would be fun to try.We had to set some auction rules, the main one being that if you overbid and couldn't pay for an item you won, you would forfeit the item, pay a penalty, and be disqualified from bidding for the rest of the auction.  This forced them to think about their bids and kept us from wasting time with overbids.Each student received £6 5/- (or 125 shillings) to use for bidding.  To make it interesting, I let students bring in their own items to auction ahead of the donated items.  In this way, they could add to their bidding funds.  One student nearly doubled his funds with the popular items he auctioned. Donated items auctioned included US and foreign coins and currency, such as an 1843 US large cent, a proof Eisenhower dollar, a BU silver US bicentennial half, US silver certificates, a German 5000 mark banknote, a collection of 1800's world coins, several WW2-era coin sets, a subset of Japanese Invasion Money, a page of four different WW2 Allied Military Currency notes, and rolls of wheat pennies. Other popular hobby-related items included a jeweler's loupe and coin collection display folders, with foldovers and storage tubes being bought outright at the end of the auction for a penny or three.If you're an experienced auction buyer you might think bidding among elementary students would be pretty tame.  You would be wrong!  Some heady sums were reached during the often furious-paced, cookie-fueled bidding. We managed to distribute all the donated items by auction's end.  And most importantly, everyone had a lot of fun.  We will definitely plan another auction for next year!

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25 May 2017

First Year Report on Legacy Knights Numismatic Society

Young Numismatists Exchange | Dave_75466

I can't begin to tell you how thrilled I have been with how well this endeavor has gone.Our membership is limited to 3rd- through 6th-grade students at our school or its affiliated home school program, parents of those students, and any faculty/staff that wish to join.  To give you an idea of the size of school we have, there were 15 students in the 4th grade this year; the other grades were a little larger.  So we're pulling from a maximum pool of maybe 90 students.  You would think we might get a half dozen members, but no:  we ended the year with 13!We were well-supported by the school and the parents.  The school let us use the library for meetings and their video system for presentations.  The print shop made flyers for us, and the office distributed them to the classrooms.  The print shop also printed poster displays for us, and created handsome certificates of appreciation for whenever we had a guest speaker.  The principal and teachers oversaw the students' activities during school hours and set some rules, but didn't ban bringing coins or currency, so that helped.  We got a very positive mention during a State Of The School meeting that boosted awareness.  I had anywhere from one to four parents sitting in on meetings with us and assisting as needed.  The IT shop even helped me out with an email account using the school's domain, which really helps you look professional when communicating on behalf of the club.My favorite local coin shop owner encouraged me to go to a coin show put on by the local coin club.  My son and I went, and there we met the president of the club and other members.  They offered to send guest speakers to present on various numismatic subjects.Our first meeting in February was an introductory meeting, and we covered the topic of how to identify coins and currency.  We followed that up with an off-week discovery trip to the local coin shop.For our second meeting of our existence, two gentlemen from the local club came and presented to our students the most appropriate ways to handle, care for, and display their collections, including the differences between coins that go in blue Whitman folders and coins that get sent off to be slabbed.  Their presentation was geared right at our members' age and experience levels.For our third official meeting, another local numismatist from the local club came and presented "Numismatics of the American Civil War."The Numismatic Knights wrapped up their inaugural year by holding their first annual awards ceremony and student-members-only auction on May 16.  Each member received a medal that will be unique to the inaugural year, created from a Standing Liberty US quarter dollar mounted under a pin-on ribbon drape in a sterling silver bezel.  Each member also now has their own copy of Yeoman's "Red Book" US coin guide, donated by the local coin club, along with a handful of coins to check using their new guide.The auction was a smash hit with our young numismatists!  It was a great way for them to learn about auctions, bidding, and the pre-decimal British monetary system.  I'll explain all that in another blog post.  You have seen auctions, but unless you were there I'll bet most Americans reading this haven't seen a roomful of 8- through 11-year-olds trying to outbid each other in pounds/shillings/pence...  Even higher odds that you haven't seen American kids try to do it.  But they did!Local and regional numismatic clubs and associations have been very supportive as soon as they heard what we were doing.  We've received Red Books donated for members' use, coins, collecting supplies, and back issues of "The Numismatist".  Our local shop has welcomed our group and helped us locate and obtain things we need.We operated on a shoestring budget.  Dues were $20/year but we reduced it to $10 since we started halfway through the year.  $5 of it went immediately to buy a small sack of world coins for each member to keep, study, and trade.  The rest went toward buying some second-hand Krause catalogs; most of the rest was from donations.I'm finding it takes dedication to do things the way they need to be done, but it pays off with results.  We have a great group, with great support, and they are already talking about what we'll do with it next year!You can read more about our Society on our group's Facebook page:  https://www.facebook.com/KnightsNumismatics

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06 May 2017

Island Currencies

Young Numismatists Exchange | user_8029

                Blood money is, on certain island nations, a way of paying back the families of those who are murdered, and in some situations, cannibalized. On certain islands, entire currencies developed around this intent. Three currencies used as blood money are Diwarra or Sacred Shell Money, Red Feather Money, and the Melanesian Mats. These are not all of them, or even close to, but are an accurate representation of general blood money.

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21 Mar 2017

Forming a new Young Numismatic Society

Young Numismatists Exchange | Dave_75466

New member here, grateful for the opportunity to join the ANA.  I've had great experiences with several other ANA members and am happy to finally associate my name with this institution.Through positive exposure to my crossover interests in history and coins, my son has come alongside me in taking up similar interests.  One day he came home from school and exclaimed, "Another kid in my class collects coins!  He heard I liked coins and World War Two history and gave me this!"  He produced a 1943 US steel cent, which I dutifully admired before reaching into my own wartime collection.  "Here...  Since he likes historic coins, maybe he'll like this one," and I handed him a pre-war British penny to give to his friend.  And thus the trading frenzy began.Soon my son was coming home with reports of more friends who were bringing coins and paper money to school and trading them.  "You know, I'll bet your friends would like to join us some Saturday for a trip to the coin shop," I told him.  Sure enough, after a basketball game, several of his teammates from school joined us in patronizing our favorite numismatic dealer.Soon afterwards, I had permission from the school administration to form an after-school club for students in the third through sixth grades.  We held our first official meeting on 28 February 2017 with fourteen young enthusiasts in attendance.  We are working on creating more Young Numismatists through the Coins for A's program, then we're diving into The Dollar Project.This club is a little different from other local clubs in that its membership is limited to students of our school in those four grades, their parents, and school faculty/staff.  However, we have another excellent club in the area whose membership is open to the public and accepts members of all ages.  They have already become an ally of ours and we hope to support them in turn.As coordinator for this newly formed young Numismatic Society, I've found that it takes a little effort and planning, but not much more than I was already interested in investing in my hobby in the first place.  It keeps me progressing in increasing my own knowledge, and  in making contacts and developing relationships within the numismatic community.  Plus, it is an excellent way to get to know the parents of my son's school mates, a key component in forming a strong, healthy educational community for our students.Dave

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13 Oct 2016

The American Eagle Program

Young Numismatists Exchange | The Silver Half Dollar

            The American Eagle Program contains gold, silver, and platinum coins.  American Eagle coins provide investments, beautiful coins, and a way to easily own precious metals.  American Eagle coins are not the same as the quarter-eagles ($2.50), half-eagles ($5.00), eagles ($10), and double-eagles ($20).   Even though these coins are legal-tender they typically sell at a high premium above their melt and face value combined. 

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24 Sep 2016

My thoughts on the 2016 ANA YN Auction

Young Numismatists Exchange | CoinCollector2012

Earlier today the ANA held their annual auction for the YNs. In this auction, participants used YN dollars, which are earned by doing things in the hobby such as going to coin club meetings and writing numismatic articles. I will be sharing my thoughts on what I think went well, and what should be fixed for next year's auction.

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24 Sep 2016

My thoughts on the 2016 ANA YN Auction

Young Numismatists Exchange | CoinCollector2012

Earlier today the ANA held their annual auction for the YNs. In this auction, participants used YN dollars, which are earned by doing things in the hobby such as going to coin club meetings and writing numismatic articles. I will be sharing my thoughts on what I think went well, and what should be fixed for next year's auction.

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