The Algona Upper Des Moines from Algona, Iowa on March 24, 1966 · Page 8
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The Algona Upper Des Moines from Algona, Iowa · Page 8

Algona, Iowa
Issue Date:
Thursday, March 24, 1966
Page 8
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Algona ((«.) Upper DM Molnw Thursday, March 24, 1966 A reminder that this is the weekend for the annual three club show and bourse, held this year at the community hall at Boone. Last year the event was at Jefferson. April 3 is the second annual show of the Northeast Coin Club in Notre Dame auditorium at Cresco. With the Storm Lake show the 16th and 17th and Forest City the 22nd and 23rd, our cup doth Indeed runneth over. - o - The March meeting of the Kossuth County Coin Club was very well attended, with some visiting collectors from Clarion and Bud Montgomery of Garner who joined. The auction was interesting to follow with somewhat erratic price patterns. Silver dollar lots were purchased at favorable prices for the buyer. A single 1879S, a two cent piece in about good condition, and a small lot of half dollars containing the 1955 key brought near retail or above. I am surprised the odd denomination coins, such as the 2 cent and 3 cent aren't higher on the market. - o Collectors remain confused as to why the U. S. government will not allow the purchase and importation of gold coins currently minted by foreign governments. These coins are not Intended as legal tender but are made primarily for collector sale. Generally, they are sold by various governments at a substantial premium. While U. S. citizens can not obtain gold on demand for currency, foreign governments and central banks can. This Is a key point in making our currency an International trading medium and fully convertible. To permit the purchase of these so-called coins would open the flood gates for a world wide raid on our gold supply. American collectors would buy the coins with dollars which would become part of the government and bank reserves of the countries-concerned. These dollars could then be exchanged for our gold at $35 an ounce. The goldi could then be turned Into more' coins which would be sold at a premium price of say $50 an ounce. The dollars would flow in again, be exchanged again, etc. We would finance the entire enterprise by having our government sell at $35 and our citi- zens bay at $50 or more. We might better sell to our citizens In the first place. The reason then for not allowing the purchase of current foreign gold Is precisely the same as that behind the entire gold policy of the united States since we went off the gold standard in 1934, - o - The Montgomerys of Garner are versatile collectors and the good wife is interested in political tokens. This interesting collection was on display this year at Clarion. I am told that collecting interest Is really booming with a national society and a catalog. One very scarce Item is the button for John W. Davis, the Democratic candidate in 1924. Perhaps this is because the campaign lacked finances. This was the year that Coolidge ran for a second term and LaFollette headed the Progressive-Socialist ticket, in many states, including Iowa, Davis ran third. Since Democrats likely desired to forget this poor showing, perhaps very few of the buttons were saved. The major party candidates would, of course, be the favorites, tho there must be many minor party items that would be very scarce* When cleaning out the old desk drawers, don't discard these political memories. Someone will want them sometime. * o- My Italian correspondent tells me that the 500 lira Dante commemorative coin still is not found in circulation. An Iowa dealer in foreign coins offers them at $2, but he received only a small portion of his order and they do not seem to be generally available elsewhere. The coin is an attractive one and it would go well with the several stamp sets that have been issued to honor the occasion. This potential additional market may have looked good to some enterprising capitalists, hence the hoarding activity. They may have a point. I think many stamp collectors would buy the coin and visa versa. I wonder when the UN will figure out some way to mint coins. — ^—' •—' • "^^ ^^•^"^^^"^••^^^^^^^^^•"^^^"^•^'^^^^^^^^^^^^^"^^^ ^^^^^^^^^^^p^-^^p^^ IVfcof fieffer Home Improvement... Plymouth In Your Driveway 1023 N. MAIN THERE'S NO BETTER DRIVEWAY. TAKE ADVANTAGE OF OUR BIG 30 IN 60 SALE NOW. KEN'S AUTO SERVICE PLYMOUTH - VALIANT SALES AND SERVICE ALGONA

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