CUBAN NUMISMATIC
ASSOCIATION NEWSLETTER 2-07
WWW.CUBANUMIS.COM
Frank Putrow (04)– President April 2007
Andres Rodriguez (04) – Vice President Editor – Frank Putrow
Vacant – Secretary Fxputrow@aol.com
Robert Freeman (04)– Treasurer
Board of Directors – Richard Becker (04), Larry Casey (04), Stan Klein (04), Emilio M. Ortiz (04) and Rudy Valentin (07). Parliamentarian – Larry Casey. Chairman Communications Committee – Stan Klein. Chairman Nomination Committee – Vacant. Chairman Finance Committee - Emilio M. Ortiz. Chairman Historical/Research - Open
Cuban Numismatic Association is a member of:
American Numismatic Association (ANA) – www.money.org
American Numismatic Society (ANS) – www.numismatics.org
Latin American Paper Money Society (LANSA) – www.lansa.bz Check website for variety of
Cuban currency for sale.
NEWSLETTER INDEX
Page 2 CNA ANNUAL MEETING HELD
Page 3 CNA NOW 501(c)(3) TAX EXEMPT.
Page 3-4 ORDER YOUR CNA COMMEMORATIVE COIN NOW. TIME IS RUNNING OUT.
Page 4 MEMBER PROFILE.
Page 5-6 CUBAN TOKENS (part 2), by Rudy Valentin, Director and charter member # 022.
Page 8-12 NGC and PCGS POPULATION REPORT, by Enrigue Cayado, charter member # 005.
Page 12-14 RECENT AUCTION RESULTS OF CUBAN COINS.
Page 14-16 THE 1869 PAPER MONEY ISSUES OF THE
Cayado, charter member # 005
Page 16-18 LETTERS TO THE EDITOR.
Page 18-19 CNA NEWSLETTER ARTICLE INDEX
Page 19-20 FROM THE KITCHEN
Page 21-24 WANT ADS
Page 25 MEMBERSHIP APPLICATION
CUBAN NUMISMATIC ASSOCIATION (CNA) CONVENED AT FUN
2007 COIN SHOW IN
The Fourth Annual (Third Anniversary) CNA meeting was held in
Room 220B on
After introductions and the reading of the 2006 General meeting notes by President Frank Putrow, Treasurer Bob Freeman read the Treasurers report, followed by Stan Klein, who updated the membership of enhancements on the CNA website.
Pertinent issues:
Membership stands at 149 with 90 current in their 2006 dues.
Treasury currently is $3874, including unsold silver CNA Commemorative coins. Sixty one of the 150 serialized coins, and 32 of the 50 non-serialized coins had been sold. The CNA Board decided that any unsold serialized coins will only be sold to the member with the associated number at this time.
Miami Chapter of the CNA has been dissolved due to organizational issues, but may be re-established at a later time.
New designed plastic enclosed membership cards will be given to all members who are current with 2007 dues. They replace the paper certificate used from 2004-2006.
Bob Freeman gave an interesting presentation on IRS status 501(c)(3), which was recently awarded to the CNA. Essentially, the CNA is now a “non-profit” organization, and all donations to the CNA are eligible for IRS Form 1040 deductions. See the following article for additional information. His presentation included feedback from attendees and door prize tickets were handed out.
Member Jorge Rodriquez gave a short summary of his unusual
escape from
Two recommendations were made to fill the vacant CNA Director position, previously held by Enrique Cayado. Members Rudy Valentin and Paul Karon were nominated, with no additional nominations offered from the floor. Rudy Valentin was elected by show of hands. Special thanks to Cayado, and the two nominees for their interest and contributions to the CNA.
OF SPECIAL INTEREST was a display of Cuban 19th century bank notes, bonds, etc. by Richard Becker and Larry Casey. Becker did not attend the meeting due to sickness of a family member, so Casey gave the informative presentation on these items without assistance. The presentation encompassed many notes that the membership had not seen before, and the discussion continued after the meeting was adjourned.
After the meeting 7 door prizes were awarded to lucky purchasers of the 50/50 tickets. The last drawing was for $61.50 (50% of the ticket sales), and the winner was Dan Seip. The balance of the 50/50 went to the Good of the Club fund.
Forty one items were then auctioned off, including 14 whose proceeds were for the Good of the Club fund.
CNA IS NOW CLASSIFIED AS 501(c)(3), a TAX EXEMPT
Organization.
Thanks to the efforts of our Treasurer, Bob Freeman, including multi-page filings and subsequent submissions, the Internal Revenue Service (IRS) has granted the CNA a 501(c)(3) classification
In short, the IRS stated in their
“We are pleased to
inform you that upon review of your application for tax exempt status, we have
determined that you are exempt from Federal income tax under section 501 (c)(3)
of the Internal Revenue Code. Contributions to you are deductible under section
170 of the Code. You are also qualified to receive tax deductible bequests,
devises, transfers or gifts under section 2055, 2106 or 2522 of the Code.
Organizations exempt
under section 501(c)(3) of the Code are further classified as either public
charities or private foundations. We determined that you are a public charity
under the Code section(s) listed in the heading of this letter”.
The CNA is proud to have been granted this classification.
It is rare that an association, such as ours, would file, and also be granted
such a status. The significant benefit is that donations, which are crucial to
our future plans, will be tax deductible to our benefactors. The CNA, on the
other hand, must continue to demonstrate that our primary focus is education.
ORDER YOUR CNA COMMEMORATIVE COIN NOW.
TIME IS RUNNING OUT!!!!!!!
Orders are being accepted at this time. The coins are $20.00
each, and SH&I will be an additional $2.50 per coin in the
The coins may be ordered using the form provided below.
Checks should be made out to Cuban Numismatic Association. If paying by Paypal,
please address the payment to Fxputrow@aol.com,
and I will convert the payment to our CNA checking account. Please add an
additional dollar if paying by Paypal, to cover the Paypal fees. Please mail
check to: Frank Putrow,
Cut
here----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Please Print
Name_____________________________________________ Member serial number ( )
Address___________________________________________ Check # ________
___________________________________________
Telephone number __________________________________ Email address_________________
Order: Serialized Coin @ $20. Please circle YES NO $_____________
Non-serialized coin(s) @ $20 each. Quantity _____ $_____________
SH&I
$2.50 each (
$11.00 SH&I to foreign countries + $1.50 each additional coin.
Please contact Frank Putrow at Fxputrow@aol.com or 727 5317337
for
SH&I if shipment is more than 3 coins in the
MEMBER PROFILE
Since the membership of CNA is so diverse, and separated geographically, it may be feasibly impossible for our members to meet and get to know one another. This section will highlight a member, or members, in each newsletter, providing a brief background of the person(s), so the membership may know a little about the person(s). It will be 100% voluntary. The officers and board members will be given first opportunity to provide their background, followed by the charter, then the regular members.
Rudy Valentin, Charter Member
022, and recently elected CNA Director.
Rudy was educated at
He began collecting coins in
1944, and became a serious numismatist in 1963. He collected
Currently a dealer, he is a
member of the ANA, Puerto Rico Numismatic Society, Los Reales Numismatic
Fellowship, and was a member of the now defunct Cuban Numismatic Society in
Exile. He is also a member of FUN, LANSA, Clearwater (FL) Coin Club, and the
Tampa Bay (FL) Coin Club.
He has put together extensive
collections of Cuban coins, medals, paper money, tokens, and documents. His
other collections were a combination of
Rudy has provided your editor
with substantial information on Cuban tokens, which will be used in the
upcoming newsletters.
CUBAN TOKENS – Part Two
by Rudy Valentin, CNA
Director and Charter member.
Every country in the world
has had, at one time or another, the necessity to issue what we call tokens, or
private unofficial coinage. There are many reasons, but all have the same
purpose; to benefit an individual or entity.
Tokens have always been
collected by the inhabitants of certain areas, but it is only recently that
tokens have been popular among collectors. This is primarily due to the
increasing price of coins, and published works about the various types of
tokens.
Around 1960, the eminent
numismatist Henry Christensen, published a series on Cuban tokens in his mail
auction catalogs. This information was initially developed by Robert Pesant,
whose research in Cuban Numismatics is unsurpassed. Mr. Pesant listed the Cuban
tokens in four major groups: sugar estate or plantation (centrales or
ingenios), tobacco plantation, military, and transportation. It is not known if
Mr. Pesant developed a separate segment for the commercial tokens, other than
above.
Part two is a reproduction of
the Military and Post Exchange
Tokens of Cuba, as published by Henry
Christensen in his mail auction catalog #60, dated
Other listings will follow in
subsequent articles.
SPANISH ARMY
ST JAGO –
1000 Twenty Five Cents – 30 mm – Brass
Obverse – 25/ST JAGO/DE
Reverse - Blank
1001 Ten Cents – 22mm – Brass
as above except for size and value:
10
1002 Five Cents – 18mm – Brass
as above except for size and value: 5
1003 Twenty Five Cents – 30mm Composition
as # 1075 except made of a
plastic-like composition. Letters in white and background of purplish-indigo
tpne.
The above tokens belong to an
old soldier’s home named St. James. The legend around reads: “Center for
Discharged and Disabled members of the Army and Navy.”
1052 Five Cents – 21mm Octagonal – Aluminum
Obverse – Morro Castle Post
Exchange /5c/
Reverse – 5
HABANA – Habana
1053 Ten Cents – 23mm – Brass
Obverse – POST/EXCHANGE/HAVANA SANTA CLARA BATTERY/CUBA
Reverse – Large 10/ *GOOD FOR*/ IN TRADE ONLY
The Santa Clary Battery was a
Spanish Artillery Fort on a cliff in the city. Years later, it was demolished
and the NATIONAL HOTEL was erected on the site.
UNITED STATES ARMY
These tokens were issued for
the “ PX’s” of the U.S. Army after the Spanish American War and the American
Pacification of Cuba.
1050 Five Cents - 23mm square – Aluminum
Obverse – A Star/
Reverse – Large number 5c/ *GOOD
FOR*/ MERCHANDISE. All within a dotted circle.
SANCTI SPIRITUS – Sancti Spiritus
1051 Five Cents – 21mm –
Brass
Obverse – Small horizontal design in
center. SANCTI/ SPIRITUS. POST EXCHANGE/
All within a dotted circle.
Reverse – 5c/ *GOOD FOR*/IN TRADE. All
within a dotted circle.
CUBAN ARMY
REGIMIENTO 7 – Habana
1075 – Five Cents – 19mm –
Brass.
Obverse – 5/. REGIMIENTO 7 ./
MAXIMO GOMEZ
Reverse – 5/ . JUNTA ECONOMICA. /
CANTINA MILITAR
1076 – One Cent – 17mm –
Brass
as above except for size and value:
1
The tokens above are for the
“PX” Cantina of the 7th Regiment named after Generalissimo Maximo
Gomez, (war of 1895-1898) in the Military District of the
NOTE: The TRANSPORTATION
TOKENS OF CUBA will be featured in the next (#03-07/ JULY) CNA Newsletter.
EDITORS NOTE: CNA members, and other guest writers, are encouraged to submit articles for publication in our newsletter. The CNA, or your editor, does not substantiate or verify statements or data provided in these articles. At times, there may be information, dates, names, etc. that may not be absolute. Our readers are encouraged to use these articles for reference, and to further research the subject if they question any such matter. The writers may not wish to publicize their email address or telephone number, but any comments from the readers to the editor are welcome, and will be forwarded to the writer by the editor.
I have received feedback from members who would like to see more articles about paper money, tokens, bonds, proclamations, casino chips, etc. I have requested such assistance from knowledgeable sources in our CNA. I will continue to concentrate and pursue these areas.
Please remember that your CNA is an associate member of LANSA (Latin America Paper Money Society), which maintains both a website AND a library. We are also members of ANA (American Numismatic Association) and ANS (American Numismatic Society). These international organizations maintain extensive libraries, and our CNA has access to their reference material. If any CNA member needs assistance obtaining documentation from any of our associate organizations, I can assist as necessary. Please note the reference websites on the face sheet of the newsletter.
MEMBERSHIP DUES - IMPORTANT
Members are reminded that their 2007 MEMBERSHIP DUES are
due, effective
If you are not current with your 2006 dues, this is a good opportunity to pay both years and become “paid up”. Members who pay their 2007 dues will received the newly designed membership card.
The regular annual membership fee of $10 ($5 Jr.) may be
paid by check and mailed to Treasurer Bob Freeman at
If you are current with your dues –THANK YOU!!
POPULATION REPORTS
Both NGC and PCGS have an improved population report, available “on-line” to Cuban coin collectors.
Member Oscar Acosta reports that NGC had completed the improvements, and the report is complete, with a few pending enhancements in the 1897 Souvenir Types 2&3.
NGC has approved access to the following site:
http://www.ngccoin.com/poplookup/poplookup-world.asp?world=0&Denom=%25&world=0&CatDesc=CUBA
Click
on “SELECT ALL COINS”, then “GET MATCHING COINS”.
This information cannot be reproduced off-site, since the census is copyrighted.
Visit www.ngccoins.com for further information.
Member Tom Harrahush reported that PCGS had made their Population Reports available to all PCGS members. He reports that the report is comprehensive, but lacks headers on each page.
PCGS has 3 membership options:
Silver ($49.95 a year) – Provides on-line access.
Gold ($99 a year) - Provides quarterly Population Reports, book on grading and counterfeit ,
as well as Silver benefits.
Platinum ($199 a year) – Provides 8 free submissions, plus Gold benefits.
Visit www.pcgs.com for further information.
Your editor checked with ANACS to complete the top three graders.
The ANACS Population Report is still work in progress.
The new ANACS holder is very practical, and only costs $5 each for a conversion from the original type. There have been a few reports are that some Cuban coins are not tight inside the new holders.
Visit www.anacs.com for further information.
CUBAN COINS - NGC
AND PCGS POPULATION AGGREGATE REPORT.
By Enrique Cayado, CNA Charter member.
Both
grading services are entitled to praise, NGC for updating the data, PCGS for
making it available. The reports are a
significant contribution to the collecting community.
Following
is a selective tabulation of the Republican Period data in both systems. I have arbitrarily defined the Republican
Period as 1870 through 1958 since
The
following qualifications and cautions are relevant before we examine a summary
of the population data:
- ANACS and
PCI are major grading services excluded.
ANACS does provide a population report, in fact, they were the
first service to do so.
- There are
cross-grading duplications between PCGS and NGC; these duplications would
significantly increase if ANACS and PCI are added to the data.
- Some PCGS
and NGC data, for whatever reason, is missing.
- NGC has
not separated the 1897 Peso data into the three corresponding
varieties.
- Star
Relief and Reed data for Star Pesos, 40c and 20c; is questionable. Both services started properly
classifying these coins just a few years back.
The data totals 4,202 coins with 3,348
graded in “Uncirculated” condition (this includes proofs and business
strikes). The most numerous uncirculated
dates graded are as follows:
Number Year
of
coins Denomination
116 1934
PESO
118 1916 G4P
128 1915 G20P
152 1897 PESO (Includes all varieties)
152 1915 G1P
160 1915 G5P
192 1916
G5P
233 1916
G2P
249 1916
G10P
Now, some may be disappointed in these
apparently high numbers; without getting too scientific or elaborating on depth
of market, let me throw some judgmental elements in the fray:
-
Think of the St. Gaudens Double Eagle with a total
uncirculated population in excess of 3.1 MILLION. A lot of Cuban Gold is selling at metal
value.
-
There was a lot of interest in the
-
Think of the under rated 1934 Peso. I recently purchased a
GEM coin for under $150 while any reasonable 1897 (just as numerous) sells for
twice as much! (The 1897 issues were
primarily distributed in the U.S.A. and, after the meltdowns, should be as
common as the 1934)
I am not guessing markets or promoting
issues; just calling your attention to the significant opportunity for
evaluation and analysis that these reports represent. With only 3,348
uncirculated coins graded, it does not take many collectors to exhaust the
market.
Now that we have covered the not so
common, but more numerous coins, I invite you to look at the following
tabulation of ALL coins, the “best” coin available for each issue and the
number of “GEM” coins (65+) disclosed by the populations:
|
YEAR |
DEN |
VARIETY |
PR/MS |
TOT.
UNC. |
TOT.
GEM |
BEST |
|
1915 |
1C |
|
MS |
36 |
9 |
66 |
|
1915 |
1C |
|
PR |
29 |
19 |
67 |
|
1916 |
1C |
|
MS |
48 |
8 |
66 |
|
1916 |
1C |
|
PR |
10 |
5 |
66 |
|
1920 |
1C |
|
MS |
28 |
1 |
65 |
|
1938 |
1C |
|
MS |
25 |
4 |
66 |
|
1943 |
1C |
|
MS |
18 |
8 |
66 |
|
1946 |
1C |
|
MS |
9 |
1 |
66 |
|
1953 |
1C |
J.M. |
MS |
18 |
4 |
65 |
|
1953 |
1C |
J.M. |
PR |
4 |
0 |
64 |
|
1958 |
1C |
J.M. |
MS |
17 |
0 |
64 |
|
1915 |
2C |
|
MS |
22 |
5 |
66 |
|
1915 |
2C |
|
PR |
30 |
16 |
66 |
|
1916 |
2C |
|
MS |
30 |
8 |
66 |
|
1916 |
2C |
|
PR |
11 |
5 |
65 |
|
1915 |
5C |
|
MS |
23 |
5 |
65 |
|
1915 |
5C |
|
PR |
29 |
18 |
67 |
|
1916 |
5C |
|
MS |
14 |
4 |
66 |
|
1916 |
5C |
|
PR |