From: "MPCgram" To: Subject: Gram 1052 St. Louis report Date: Friday, November 21, 2003 12:27 PM =========================================== MPC GRAM =========================================== Covering the entire World of Military Numismatics Series 005 - Number 1052 Thursday November 22, 2003 POW Chits Break Out The Lyn Knight auction of world paper money on Thursday night featured MPC and a wide variety of military items. Most of the items sold nicely. The highlight was the large group of POW chits issued in the United States during World War II. These chits have been popular with a small, but serious group of collectors for a long time. The group is expanding and rapidly. Every lot sold and many of them after spirited bidding. From Reuters News: WASHINGTON, Nov. 20 — The director of Iraq's currency exchange program said on Thursday he expected the new dinar to appreciate in value as oil exports increase. Retired U.S. Army Brig. Gen. Hugh Tant also said that the five-week-old currency exchange program was already 67 percent complete. Iraqis have from Oct. 15 to Jan. 15 to turn in four trillion dinars worth of Saddam-era bills and older notes popularly known as Swiss dinars in exchange for six new denominations ranging from 50-dinar notes to 25,000-dinar bills. ''We have completed almost five weeks and 67 percent of the expected amount to be converted has already been accomplished,'' Tant wrote on ''Ask the White House,'' an online forum. Tant said the Central Bank of Iraq was conducting a ''foreign exchange auction process'' about three times per week to help ensure the new currency is stable. ''At the moment, due to Iraqi exchange controls, the currency is not exchanged outside Iraq. This is likely to change in the future as Iraq continues to be welcomed back into the international financial community,'' Tant said. But he added: ''As oil exports increase and more funds are invested in Iraqi goods and services from outside the country, it is expected that the new Iraqi dinar will appreciate in value over the long-term.'' Currently, the Iraqi dinar is worth about 1,955 to the U.S. dollar. =========================================== Editorial/opinion =========================================== St. Louis—My trip to the Pcda St Louis show has been marked by mistakes. The first was not allowing enough time to study the lots. Actually, the first mistake was not studying the catalog at home instead relying on the chance to see the notes themselves. There was so much of interest to us that the ten hours that I spent just were not enough. Areas that required special study were Italian circulating checks. The Knight listings were the largest (and best cataloged) that I have ever seen. The catalog is worth having just for that section. World War II local emergency notes for Belgium, Germany, France, Norway and probably some others demanded attention. On some of those lots I decided that the best way to save time and energy was to commit to buying them which I did. Not bringing my laptop with the WWII and MPC book manuscripts was also a serious mistake. On the assumption that I was staying for only a short time, I decided not to bring it. There were many times during lot viewing that I wanted to check alterations that I have made to the manuscripts. On the other hand the Hyatt where the show is has a wonderful internet café available 24 hours so I have not overflowed my inboxes and have been able to get the Grams out. Only a moment ago, Gram contributor Jim Downey stopped by this table to chat and wants to show me some things so I am going to stop now. Expect more Pcda reports tomorrow. =========================================== MAIL CALL =========================================== Editor, It seems our esteemed editor has gotten very forgetful in particular to where matters of the heart are concerned. On Thursday night during the middle on the first session of the LKCA banknote sale I was rudely interrupted on the podium by a call on my cellphone and being the mercenary fellow that I am I actually answered because we cannot miss a bid. This call was not a bid (to my dismay) but instead a call from Judy S. Inquiring if anyone had seen her husband who was MIA since early WED and she was fearful of his whereabouts. the auction was stopped in it is tracks and a call from the dias of course located Fred S. cowering in back of David Seelye. We all had a good laugh and once Judy was satisfied with his safety the auction resumed. I thought Fred had a cell phone of his own! Respectfully reported. lyn knight Editor, I never got an answer to this question (re: Gram 1028). Is the answer obvious to others, but not to me? Why is the new US $20 note "series 2004" when it was issued in 2003 ? David Klinger I believe Fred and I were there when the three step rule was accepted as official Fest lore. It did and does exists.........Gary (Who has Fours) Hicks Dear Steamed (and Pressed) Editor: I feel compelled to respond to Little Lee's letter in Gram 1051. His comment about "being a complete newbie would attending be jumping in, over my head, or could I really benefit from attending" went right to my heart. That was me three years ago. The FEST is not centered on "dealers," "big ticket items," or "big money." It is centered on having fun and learning. This is not a show like you have seen before. Of course there are dealers, but they are collectors also. And many individuals buying, selling and trading to meet their collecting goals. But most of all, the FEST is people interacting, sharing, networking, learning, and having fun. I have never met anyone at FEST who was not willing to spend time with me explaining some facet of collecting. There will be people interested in collecting all kinds of military numismatia - MPC, course, but also war bonds, POW camp chits, foreign emissions, etc. I could go on. You will have an opportunity to discuss these interests and help decide what direction you want to go. Our illustrious GRAM Editor and FEST organizer (First Sergeant) will distribute a training schedule before the event. This will also give you an idea of what to expect. You may participate as much or as little as you like. Some people are active and gregarious and some are quiet and introspective. Ages range from teenagers to collectors in their 70s. The mix works and is exciting because we all have a common passion. In short, this is the perfect place for a newbie to jump start an interest in the hobby. I hope to see you there, Warner --truncated Gram, other features will return tomorrow ===== MPC Gram is published by BNR Press and papermoneyworld.com as a free service to the community of military money collectors. Your suggestions, criticisms, complaints, editorial contributions, letters, and even praise are very welcome. The entire contents including linked illustrations are copyright protected by the publishers. In the case of contributors, the copyright is protected on behalf of the creators. Please send all correspondence regarding the gram to MPCgram@yahoo.com. Thank you very much for your participation. __________________________________ Do you Yahoo!? Free Pop-Up Blocker - Get it now http://companion.yahoo.com/