From: mpcgram-owner@papermoneyworld.net on behalf of MPCgram [mpcgram@yahoo.com] Sent: Tuesday, June 13, 2006 11:14 PM To: mpcgram@papermoneyworld.net Subject: MPCGram 1467 ------------------------ / MPC Gram News Letter / ----------------------- =========================================== MPC GRAM =========================================== Vol 7, no 1467 Tuesday June 13, 2006 SERIES 651 FRACTIONALS by Jim Downey The Series 651 fractional MPC notes are some of the most intriguing of the MPC series because of their scarcity. Articles that I recently uncovered in the Pacific Stars and Stripes have provided new information concerning this series. Series 611 was converted to Series 651 on April 29, 1969 in South Korea, Japan and Libya. The April 30 editions of the Japanese and Korean versions of the Pacific Stars and Stripes carried articles about the conversion in these countries. The articles detail the usual information about the conversion including the “lock down” of military installations and frantic locals trying to get service members to convert their MPC holdings. In Korea there was a $500.00 limit on conversion unless the service member could show that amounts in excess were legitimately gained. It is unknown whether the same restriction applied to Japan. Sixteen million dollars was converted in Korea alone. No figures were given for Japan. The Japanese article indicated that only $1.00, $5.00 and $10.00 Series 651 notes were issued in the conversion. It stated that MPC fractionals were withdrawn from circulation in Japan in September 1962. This means that not only were there no Series 651 fractionals issued in Japan, no Series 611 fractionals would have been issued in Japan either as Series 611 was not introduced to Japan until January 1964! The Japanese article also quoted a finance spokesman as saying that the conversion was necessary because the existing stock of Series 611 notes would not meet the needs of the finance offices. This may have only been speculation on his part. A subsequent article in the November 25, 1969 Korean edition discussed the destruction of the Series 611 notes in Korea. The destruction committee “practiced” by burning some 6 million Series 651 fractionals that were not needed since it had been decided not to issue these notes in Korea. The articles confirm that the Series 651 fractionals were not issued in Japan or Korea although they were delivered to Korea. The only question remaining is whether the Series 651 fractionals were actually issued in Libya. Dear Gramsters: While looking for various things on the ANA www.money.org and while looking at the Staff page we found that David J. Sklow has evidently replaced Nancy Green as the Director, Library and Research for the ANA. David is a very skilled and competent researcher in the numismatic field. Back in the 1980's David owned a company in Michigan that sold numismatic references through mail bid auctions and fixed price lists. In the early 1990's David had a company in Florida that held auctions via mail bid sales. On a few occasions he also took tables at coin shows and sold numismatic literature. We purchased books from David and were always treated very fairly. Some of these references are still in our library. David also worked for the Money Tree for their last few auctions. Several years ago he went to work for ANA as a Numismatic Researcher. We have known David for many years and find him very knowledgeable and competent as a numismatic researcher and bibliophile. We want to congratulate David and wish him the very best in what appears to be his new job with ANA as the Director of the Library. We want to commend the ANA Executive Director Chris Cipoletti for making this appointment. We are sure he will do an excellent job for ANA in this very important position. It will be nice to congratulate David in person at the Denver ANA this coming August. Please go to the below site to see a listing of all the Staff at ANA, which includes David as the ANA Library Director. You can E-mail David at ANA and congratulate him on his new position. His ANA E-mail is sklow@money.org Yours in Numismatics, John and Nancy Wilson, Ocala, FL *********************************************************** Championship Question Corner Question: Patriotic Aviation bonds feature an airplane vignette. What country issued these bonds? Question 127, difficulty 3. Yesterday's Question: Which issue of Allied military currecny is known to exist in matched serial number sets? Question 126, difficulty 2. Comments from the field: Bill Myers writes: There were souvenir sets of the Italian AMC lire from 1-1000 with matched serial numbers available when AM lire were introduced. ========================================== Editorial ========================================== For the past two or three days I have been waxing poetic (well, as much as I can) about the joys of the Memphis paper money show and I certainly stand by my comments. However, today I have a bit of a different take. Today is that dreadful day when I must prepare to leave. I always have way too much to do and too little time to do it. This time is no exception. I have papers, invoices, notes, holders (with and without notes), telephones (yes, telephones--but that is a subject for future discussion), books (gads I have lots of books here at my desk, at my feet and all around on too many subjects), and other junk. All of these things seem to be screaming for attention. At least there are no candy wrappers. The good news is that tomorrow when I pull out of here, I will be caught up! Actually, that is not as true as it used to be. In the old days (as recently as 5 years) it was certainly true. Now with a cell phone and eamil, the demands and work can hunt me down. ========================================== Mail Call =========================================== Dear Ken; You wrote: "Therefore, if we can determine the exchange rate between the U.S. Dollar and the Reichsmark in 1938, we will know the value (in U.S. Dollars) of the Barter Unit." and asked if anybody knew the exchange rate then. The original Reichmark (of WWI fame) was tariffed at 4.2 Marks to the US Dollar back about 1870 during the unification of German coinage. This lasted until the hyperinflation following WWI. When the Rentenmark replaced the badly inflated Reichmark the exchange was 4.2 Trillion (yeh, I said Trillion and that is the European Trillion) Reichmarks to 4.2 Rentenmarks. In effect, they lopped off a whole bunch of zeros. Since the Rentenmark was backed by commodities, this had the effect of stabilizing the Mark. The exchange rate again became 4.2 Marks (Rentenmarks) to the US Dollar. This rate remained stable when the Rentenmark was renamed the Reichmark and lasted until late 1943 or early 1944 when it became clear that Germany was losing the war. At that point the Reich Mark started losing value and ultimately became worthless even on the local economy. I also read somewhere that the German Barter System actually started during the last days of WWII when Germans started trading their valuables for food and other necessities. There are a couple of histories on German inflation that will give a better (longer) version of what happened. I will check my library and see if I can find them. I know that I have them somewhere in the 1800 or so books that I have on numismatics. Damn, I just gotta get organized!!!! Paul Garner ========================================== Calendar =========================================== 2006 The London Paper Money Fair has moved to: Victory Services Club, 63 Seymour Street, off Edgware Road, Marble Arch London and the dates are: July 2 and Nov 26. see: www.britishnotes.co.uk or www.londonpapermoneyfair.co.uk June 1-3 Long Beach, mini fest to be announced 16-18 June Memphis 1-14 July ANA summer seminar 16-20 August ANA convention, Denver September 14th-16th, Long Beach, mini fest to be annuonced The World Paper Money Fair, organised by the London chapter of the IBNS will be September 30/October 1 at the new venue: Hotel Russell, Russell Square, Bloomsbury, London.  see: www.ibnslondon.org.uk Oct/Nov Pcda St Louis ========================================== for dealer Hot Contact list, ANA MPC museum holdings and other static information please click this link: http://www.papermoneyworld.net/Gramattichments.htm ========================================== 2006 scholarship fund Donations of cash and numismatic material will be gladly accepted. Generally the numismatic material is auctioned at MPCFest, but might be sold via ebay or other places. Your scholarship donations help the hobby by sending qualified individuals to the ANA summer seminar military money class. Except for unavoidable charges like ebay fees, 100% of your donation goes to scholarships. Donations are now being accepted for the 2006 scholarship fund. Applications are also being accepted for the 2006 scholarships. Donors to 2006 scholarship fund: Sue McCarty (list pending) Contact me at: "Marcus Turner" mail to: maturner@indy.rr.com Checks should be made out to the "Military Numismatists Scholarship." or Marcus Turner Marcus Turner PO Box 191 Danville, Indiana 46122 USA Contributors to the 2005 scholarship were: Ed Hoffman, Warner Talso, RA Medina, John & Nancy Wilson, Keith & Sue Bauman, Dan Freeland, Tom Koch, Doug Bell, Cuneyd Tolek, David Seelye, Brian Giese, Larry Smulczenski, Joe Boling, Dick & Loretta Freyser, Mark Watson, John Cheney, Roger Urce, Harold Kroll, Al Glaser. (also Memphis Belle note purchasers and summer seminar participants. irie Harris, Robert Connell, William Benton, Ed Beaman, Frank Clark, Howard A. Daniel III, Dick and Loretta Freyser, Dan and Kathy Freeland, Jack Hunter, Harld Kroll, Tim Kyzivat, Leo May, Robbie Robinson, Joel Shafer, Neil Shafer, Larry Smulczenski, Steve Swoish, Roger Urce, Ron Waddell, Pam West, John and Nancy Wilson, Adolf Witzke, Wendell Wolka. IMPORTANT SCHOLARSHIP INFORMATION Additional information can be found at the link below. We encourage everyone to print copies of this information and distribute it to those who might be interested. Further you are encouraged to e-mail the pdf document to anyone you see fit. Thank you http://www.papermoneyworld.net/news/Military Numismatists Scholarship Fund 2003.pdf Scholarships from the ANA: See the following location for an application for financial aid to the summer seminar: http://www.money.org/sumsemfin.html ========================================= POST / BASE EXCHANGE(PX/BX/NEX) Dump your dupes! Your classified advertisement for items for sale, purchase or trade will be run here for free. Send your ads to the gram. This service is for everyone, most humble dealer or most advanced collector. The point is to make the gram more interesting. In all cases confirm your order via email first. WANTED SECTION: Collectors may submit lists of items wanted for their collections for listing here. Dealers and collectors who have these items, are then encouraged to list them for sale in the above section as a reply. Wanted listings will run for a period of 1 month. ============================================= MPC Gram Staff: Publisher, editor: Fred Schwan fred@papermoneyworld.net; Subscription Manager:Doug Bell- doug@papermoneyworld.net Tuesday Columnist : JoeBoling- JoeBoling@aol.com Friday Columnist: Warner Talso: wtalso@aol.com Fest Auctioneer: Larry "Ski"Smulczenski - skitex@cox.net, Critic:Harold Kroll - HARBONS@aol.com Scholarship Coordinator: Marcus Turner- marucs@papermoneyworld.net; Webmaster and Technical Advisors:Doug Bell "Wiz" - doug@papermoneyworld.net Russ Walsh - russ.walsh@gte.net Fact Checker: Warner Talso -Calendar Coordinator: John and Nancy Wilson -The Boss: Judy Schwan 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!? Tired of spam? Yahoo! Mail has the best spam protection around http://mail.yahoo.com mpc gram mail list To subscribe to a list, send a mail message to "imailsrv@papermoneyworld.net" at this address with the following in the body of the message: subscribe mpcgram your_full_name To unsubscribe from a list, send a mail message to "imailsrv@papermoneyworld.net" at this address with the following in the body of the message: unsubscribe mpcgram if you have any problems please report then to doug@papermoneyworld.net