Status: U Return-Path: Received: from web5203.mail.yahoo.com ([216.115.106.97]) by runyon.mail.mindspring.net (Earthlink Mail Service) with SMTP id tg7u4t.65b.37kbi7f for ; Thu, 17 May 2001 12:13:17 -0400 (EDT) Message-ID: <20010517161218.11456.qmail@web5203.mail.yahoo.com> Received: from [64.12.101.159] by web5203.mail.yahoo.com; Thu, 17 May 2001 09:12:18 PDT Date: Thu, 17 May 2001 09:12:18 -0700 (PDT) From: MPCgram Subject: MPCGram 341 To: MPCGram@yahoo.com MIME-Version: 1.0 Content-Type: text/plain; charset=us-ascii ============================================== MPC Gram ============================================== Covering the Entire World of Military Numismatics ----------------------------------------------- Series 002-Number 341 Thurski, May 17, 2001 Talso Captures Scholarship Warner Talso of Albuquerque, New Mexico is the latest recipient of a scholarship to attend the ANA Summer Seminar for World War II Numismatics (officially military numismatics since 1930). Talso began collecting in 1969 when he lived in Italy. At that time he collected mostly German coinage. Later living in New Mexico he collected United States coins but has now dropped that too. He recently became enthusiastic about military payment certificates (MPC) and is actively pursuing information on these. He used MPC in Vietnam and Korea, but did not collect it at the time. Marcus Turner, chair of the Military Numismatists scholarship committee reports that additional awards will be made soon. He states further that donations are still needed to fill more slots in this important seminar. Furthermore, he says that scholarships remain and that applications may still by submitted (see address and other details in Departments below). Finally, Turner points out that the seminar is for anyone interested in World War II numismatics beginners through advanced collectors (and some of each have enrolled). The course will be tailored to meet the needs and desires of everyone and everyone will participate in many ways. Schwan and Boling are rumored to have some really interesting activities planned for the event, but even if they did not, the chance to interact with the two leaders in WWII numismatics for a week is an important opportunity! Military Numismatists have been raising money for the scholarship program since September 2000. They have accepted cash and military money items for resale. These items have been sold on ebay and at a club auction at MPCFest II in March of this year. The list of donors reads like a who’s who of military numismatics and world paper money collecting. The complete list of donors is included below. The Start of United States Defense Bonds By Larry Smulczenski During the evening of April 30, 1941, President Franklin D. Roosevelt sat behind his desk in the White House and faced an array of radio network microphones and newsreel cameras. The Secretary of the Treasury, Henry Morgenthau, Jr. sat to his side while the cameramen and radio technicians facing them adjusted their equipment and listened intently to their earphones. A little red light came on, the cameras began to run and Secretary Morgenthau began to speak. "The question has been asked, 'What can I do to help?' As the Defense Savings Bonds and Stamps go on sale tomorrow in every state and county, city and town in America, it will be possible for everyone -- literally everyone -- to take part in the National Defense effort..." When the Secretary finished his statement, he obtained the Presidents order for a $500 Series E Defense Bond to be delivered the next morning, May first when the bonds were officially placed on sale. The networks then switched to Kansas City where the Postmaster General, Frank Walker outlined the Defense Savings Stamp Program whereby stamps in values of 10c to $5.00 could be purchased and saved until a total of $18.75 was accumulated and exchanged for a $25 bond. Larger saved amounts would be exchanged for larger valued bonds i.e. $75 for a $100 bond. He added that he was reserving the first stamp for the President. The focus switched back to Washington where the President concluded the program by urging patriotic citizens to form a "partnership between all people and their government -- entered into to safeguard and perpetuate all those precious freedoms, which the government guarantees by investing their savings in Defense Bonds". Thus began the Defense Savings Bonds program. The Defense Bonds and stamps went on sale at thousands of Post Offices, banks and other special agencies across the nation the next morning. The stamps could be bought in denominations of 10c, 25c, and 50c or one and five dollars. The stamps were printed by intaglio and featured the design of a minuteman. Small booklets were provided by the government and other patriotic organizations so that individuals could save the number of stamps needed to exchange for a Defense Bond. The bonds were purchased for 75% of their face value, therefore a $25 bond cost $18.75, a $50 bond cost $37.50 etc., A total of 187-10 cent stamps plus a nickel were therefore required before a saving stamp booklet could be redeemed for a Defense Bond. The Defense Bonds were quite large in size measuring 185 mm by 205 mm. They were printed by the Bureau of Engraving and Printing using the intaglio method in denominations of 25, 50, 100, 500 and 1000 dollars. The bonds were patterned after the Series A thru D Baby Bonds, and also yielded 2.9% if held to its full 10 year maturity. They were registered instruments and only sold to individuals, either to one individual or to two individuals as con-owners or to one individual payable on death to another designated individual. The bonds were not subject to call by the Treasury prior to maturity. However, the owner could redeem the Defense Bonds at any time after two months from the date of issue. There was a $5000 (maturity value) limit on purchases per calendar year. The 2.9% advertised interest rate was figured over the maturity period of the bonds. They actually drew a smaller return in the earlier years and a much larger rate in later years. The interest accrued by the Series E Defense Bonds was subject to Federal Taxes, but were exempt from State or Local Taxing Authorities. The Defense Savings Bond immediately proved popular as was evidenced by the $1.145 trillion invested in the bonds by the public during the remaining eight months of 1941. =============================================== Editorial ---------------------------------------------------- Marcus Turner offered his $1 MFC (Military Fest Certificate) Series 011 for sale on eBay. He mentioned this in a letter to the editor earlier in the week. It sold Wednesday evening for $61. That is a respectable price it seems to me. I think that some replacements sold for more at the Fest, but I am not even sure of that. The item received 34 bids, I do not have the number of hits, but I think that Marcus will provide that. The number one sold to a Fester which could probably be anticipated, but the underbidder was NOT a Fester. It was an altogether interesting sale. =================================================== Mail Call ---------------------------------------------------- Dear Gram, Can I order a set of MPC Fest II Series 011. Let me know and how much, Thanks, Gary Hansen Dear Gary, Thanks for the inquiry. A full set of MFC 011 is $38. The one dollar supplies were exhausted, but new supplies have arrived from the chief of finance and should be ready for shipping on Monday. For the rest of you who ordered MFC 011 and have not received it, we are sorry. It should go out on Monday. Reminder emails will be helpful! Editor Dear Gram, I found the MPC book about two years ago and immediately found a new passion. About two months ago I found the MPCgram and I look forward to it every morning or afternoon. I was first exposed to MPC when I was a child living in Japan during 1959-1961 while my father was stationed there during a tour of duty with the Air Force. I recalled my times when he would give me small denominational notes to spend at the movies on base. My reason for writing to you is to asked the question of how much MPC survived. I found the percentage of replacements given in your book but I did not see a guess given as to how much MPC possible survived. William Choate Dear William, Thanks for the intersting comments. You ask an interesting and potentially important question. I have some thoughts on the subject (now that is a surprise!), but I will withhold comment in the hope that some others will step forward without having been poisoned by my opinions! Editor =================================================== Departments --------------------------------------------------- WWII numismatics seminar at ANA Summer Seminar 2001 --------------------------------------------------- Not only does the scholarship fund have an official identity but also has a bank account! Any further donations should be paid to the order of "Military Numismatists Scholarship" and sent to: Military Numismatists c/o Marcus Turner 8103 East US Highway 36 Suite 163 Avon, IN 46123 THE UPDATED LIST OF SCHOLARSHIP BENEFACTORS 3/22/01. These folks have generously provided money or material to finance scholarships to the ANA WWII Numismatics seminar. Your contributions will help promote collecting WWII material and be greatly appreciated. Many donations were received at CPMX and MPCFest. Mr. Anonymous Donor, Mike Cummings, Sue and Keith Bauman, Ed B., Doug Bell, Tom Denly, Continental Coin Invensor, Inc., Denly's, R. A. Medina, Harold “MPCKid” Kroll, Leo "Paymaster" May, Mrs. R.C. Matherne, Bill McNease, Marv Mericle, Mel and Jeremy Steinberg, Marcus Turner, Larry Ski, Guido, Fred, PK6, Joel Shafer, World Wide Ventures, Pam West, John and Nancy Wilson, Neil Shafer, W. E. Yanchick, Mark Watson, Al Glaser, Phil Goldstein, Rod Hardy, Wesley Hardy, Gary Hicks, Jack Lippincott, Ian Marshall, Kevin Maloy, David Seelye, Nick Schrier, Elmer Smith, Dan Swartz, Tom Warburton, Dick Freyser, Tim Kyzivat ==================================================== Post/Base Exchange (PX/BX/NEX) Dump your dupes! Your classified advertisement for items for sale 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. Send in a list of items for sale and we will list them here in the gram. In all cases confirm your order via email first. FOR SALE Your items for sale will be listed in the Gram for FREE. Send your listings now. WANTED 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 or sale in the above section. This is a trial, if you like it, send your list. =================================================== Staff: publisher and editor: Fred Schwan - fred@papermoneyworld.com; assistant editor - Phil Goldstein IWANTMYMPC@aol.com Tueseday columnist Joe Boling – JoeBoling@aol.com Thurski cloumnist Larry “Ski” Smulczenski – ski@papermoneyworld.com critic: Harold Kroll - MPCKid@papermoneyworld.com; index manager: Ed Beaman webmaster & technical advisor: Doug Bell - (Wiz): doug@papermoneyworld.com; 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!? Yahoo! Auctions - buy the things you want at great prices http://auctions.yahoo.com/