Status: U Return-Path: Received: from web12706.mail.yahoo.com ([216.136.173.243]) by tyner.mail.mindspring.net (Earthlink Mail Service) with SMTP id tpbf1j.l5u.37kbi5q for ; Wed, 5 Sep 2001 01:46:27 -0400 (EDT) Message-ID: <20010905054624.72022.qmail@web12706.mail.yahoo.com> Received: from [208.191.148.16] by web12706.mail.yahoo.com via HTTP; Tue, 04 Sep 2001 22:46:24 PDT Date: Tue, 4 Sep 2001 22:46:24 -0700 (PDT) From: MPCgram Subject: MPCGram 427/3 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 427 Tuesday September 4, 2001 Report from Hong Kong by Joe BOling Well, the first thing I did, of course, was examine the money I got at the airport foreign exchange window. I only converted $300 there ($200 for me and $100 for Connie). The rate was 7.223 for her cash and 7.2149 for my travelers' checks (vs. 7.5+ at the foreign exchange windows in town, with no service charge). Not having looked in the Pick vol 3 for current HK emissions, I was surprised to discover that I had notes from the Bank of China (expected), plus the Hong Kong and Shanghai Bank and the Standard Chartered Bank. I had not expected the private banks to survive the reversion in 1997; I thought I had read specifically that they would NOT, and that the Bank of China would be the sole note issuer for HK. Then later I discovered QEII coins in my change; I did not expect any of the monarchial coinage to still be circulating over four years after the reversion. The $10 coin is bi-metallic, about the size of a quarter but thicker. The $5 coin is copper-nickel, slightly larger than a Susie B but thicker, with a security edge that has the words "Hong Kong five dollars" in English and Chinese within the groove in the security edge (makes it look like two coins stuck together). The 20c and $2 coins are both scalloped, and the ten cent a diminutive thing that would be easy to lose (both the 10c and 20c are brass). The 50c coin is also brass, and $1 coin is copper nickel; both are round and normal thickness. There is apparently nothing below 10c, as my foreign exchange invoice was rounded to the nearest dime. An interesting melange of money making the rounds. Connie and I arrived Tuesday night, having departed San Francisco 13 hours and nine time zones (and one date-line) earlier. We found that there is a hotel shuttle (about US$16 each) that took us right to our door--a lot easier then schlepping our bags through the train and subway systems. At 1000 Wednesday I was ready for the start of lot viewing, and spent five hours doing that (posting additions to SB and checking things that I might want to bid on myself). I saw more people whom I know than I expected to, including collectors or dealers from Germany, England, Australia, and Japan. People were waiting for chairs at the viewing tables by noon and backed up the rest of the day (at least until I left). Probably the most interesting lot was a scrapbook full of Chinese material, mostly Shanghai locals plus a lot of hell notes, all dating from the 40s, but including many in 1941-42 that are not in SB because the groups available for us to catalog dated from before the war reached Shanghai (or at least before the US folks got out). The auction Thursday started with hundreds of lots of Chinese coins, many of which went unsold. When we finally got to my collection the sale was running an hour late and the auction room was almost SRO. Less than twenty lots in were the two Bank of Taiwan silver certificates that had been reissued on the mainland in 1904; they went for $3400 and $26,000, lending an air of excitement to the sale. Immediately next, though, were the Yokohama Specie Bank notes, which did not do nearly as well--half the lots unsold. Oh, well--I know they are good and will eventually find homes. The Imperial and early Republican notes that I had because they were printed in Japan did very well, and most of the puppet bank material also (only a few lots passed and almost nothing selling to the mail bidders). The third Taiwan silver certificate (sold later because it was not reissued on the mainland) sold for $6500. The JIM did OK, much of it going to the book. The Thai did much better than I expected (not as insane as four years ago, but apparently the Thai market is still breathing). Then came the Japanese material, which largely died. I was very disappointed in its performance. Most lots sold at the opening bid to only a single dealer (of the 43 non-military, non-specimen pieces, 41 went to that dealer). There was absolutely no competition for any of them, and it certainly gave the appearance of bid manipulation (I had set no reserves, so the opening bids were about 60% of low estimate). Next day I discussed the dismal performance of this section of the sale with several people, all of whom said that it is representative of the current Japanese market. Perhaps the fact that there were no book bids reflects this, as the auctioneers had sent catalogs to all of their regular Japanese collectors, as well as to the dealers who showed up. I have been out of the loop for two years, since my Yokohama auction company stopped operating, so I have not had occasion to see current Japanese market realizations, and was not aware of this softness. The bright spot in the Japanese section was the specimen notes. There was one specimen collector present who bid to win all that he still needs, which included the 1946 unissued Y1000 note; it went for low estimate, $17,000. Many of the other specimens were unsold, but he bought a dozen pieces. The one buying dealer took ten more, and one other buyer snuck in for one piece. In the Japanese military pieces, the Russo-Japanese war was unpopular and three others were unsold. The Kume Jima notes went very cheaply (I lost money on all of them), as did the Taiwan POW chits (only three sold for more than I had paid for them, and two of those were to the single mail bidder--I know who he is). I also lost money on almost all the BCOF yen canteen tickets, none going to the book. None of youse guys needed any of this military stuff? You missed some real bargains. Overall, I was disappointed. If there had been some competition for the Japanese material, even if it had sold low, I at least would feel that there had been a legitimate sale. Under the circumstances, I am not sure there was. Following my lots were several hundred additional lots of paper money, much of which went unsold (in terms of the overall auction, my collection was the bright spot, despite its poor second half). Friday the coin show opened, and it seemed to be hopping. The aisles are narrow, so it's hard to tell just how much was traffic and how much was just bumping into others, but it was hard to get around the floor. There was a good mix of coins and notes, and too many watches. I bought several items (and I had also bought one lot in the auction--a pair of FIC specimens that went cheaply). Saturday Connie and I played tourist, despite pouring rain, thunder, and lightening. We carried umbrellas, and still got drenched, but there were no crowds to contend with. When we tried to board the ferry from Kowloon (where the coin show and our hotel are) to Central (HK$2.20 each, a mere 30c), the boat was pitching so badly that the crew pulled the ramp up and told everyone to wait until it calmed down, which took several minutes. We were almost alone on the tram up to Victoria Peak, and on the observation deck there (from which we could see almost nothing in the thick fog and blowing clouds). We took a 3km walk around the peak and had some marginally better views, but I know all the photos are going to look like the inside of a dark closet. In the afternoon we toured the art museum, another bargain at HK$10 (US$1.40) each. One of the things each of us wanted to do while here was buy some clothes. We early on got hooked up with a tailor shop that had sold suits to GIs in Vietnam and Okinawa for years. I ended up buying three suits, a tux, and six shirts; she got four dresses. All of these are individually tailored; you literally still can get a suit overnight in Hong Kong. Since we had more time than that, we were able to have several fittings and to keep adding to the order as early purchases pleased us. I also replaced that tired old brown vinyl bag that I have been carrying around to shows since 1986; you guys won't recognize me coming any more. Sunday we putzed around, picking up the final pieces of our clothing orders (one of Connie's dresses will have to be mailed, as the seamstresses were off today), finding a new luggage cart for me (one that will go under an airline seat, as United, alone among US airlines, says you can't put them in the overhead bins), checking out the coin show again, picking up my unsold lots for the auction-- lots of trivia. Monday we fly home to a week's mail and unending tasks. This is the closest to a vacation I have had in eighteen months, but it sure won't feel like one tomorrow. ============================================== Editorial ----------------------------------------------- Does your mail box have that empty feeling? No, your Grams are not lost, they are just late. You have heard the excuses before, busy, computer problems, holiday weekend. These and many others apply here. I had drafts of Grams for each weekend day just about finished when the computer quit on me and I had to leave town (no the sheriff was not on my tail). We should be getting back on schedule now! We have lots of interesting news and features planned for the gram in the next few days/weeks, but that does not mean that we cannot use more! Send us your questions, suggestions, complaints, articles, show reports and just about everything else! A case in point is the Smythe catalog for the forthcoming Strasburg sale. The catalog includes some interesting and important material. It should be reviewed. I can do it, but I would prefer that someone else do it! We look forward to your submission! ============================================== Mail Call ----------------------------------------------- Dear Gram, By all means, you shall have a full report. COL Steve & Big Jake Dear Steve, We look forward to your report! Editor To the Editor: Please resend me Number 425 as the last one I got before this one was Number 424 last Saturday. Mark W. Dear Mark, Thanks for writing. We sent out a number 425 to you, but wonder if anyone else had a problem with it? (It is a really good one with an article by Ski.) Editor ================================================ Departments --------------------------------------------------- Calendar of events for Gramsters maintained by Howard Daniel, John Wilson and Gram staff, last updated August 17, 2001 ---------------------------------------------------- Calendar of events for Gramsters maintained by Howard Daniel, John Wilson and Gram staff, last updated August 17, 2001 ---------------------------------------------------- Calendar of events for Gramsters maintained by Howard Daniel lll, John & Nancy Wilson and Gram staff ---------------------------------------------------- August 23-26, 2001 - CSNS Fall Convention hosted by the MSNS in Dearborn, MI, Auction by NTL/Scotsman Coins, Hyatt Regency Dearborn August 23-25, 2001 - New England Coin Expo, Holiday Inn, Mansfield, MA, 130 tables August 25-26, 2001 - Golden State Coin Show, CSNS 109th Convention & NASC Masonic Temple Arcadia, CA August 31-Sept 1-2, 2001 - Ohio State Coin Show, Columbus Ohio Host CNS/COINS, Marriott North September 13 - 16, 2001 - Strasburg Currency and Stock & Bond Show, Lancaster Host Hotel, Lancaster, PA.,100 Booths, Exhibits and Educational Programs, Auction by: R. M. Smythe & Co., Inc., Contact Kevin Foley (414) 421-3498 September 15 - 16, 2001 - Red Rose Coin Club 43rd Annual Fall Show, Lancaster, PA., Exhibits CPMX, Chicago Feb 28- Mar 3, 2002 - Contact Kevin Foley, Chairman, Lyn Knight auction of Leo May collection March 2002 8-10 - MPCFest III [reservations in order received: Guido Crapanzano, Harold Kroll, Larry Smulczenski, Gary "Got any fours" Hicks, Tom Warburton, David Seelye, Jack Lippincot, Phil Goldstein, Warner Talso, Nich Schrier, Tom Koch, Mark Watson, Bill Yanchick, Fred Schwan {running total 14}] W.W.II numismatics seminar at ANA Summer Seminar, July 2002 -Session I (Sunday, June 30 through Thursday, July 4, 2002) -Session II (Sunday, July 7 through Thursday, July 11)--------------------------------------------------- Donations are now being accepted for scholarships to the 2002 "Military Money" course at the 2002 ANA Summer Seminar. Inquiries and donations should be sent to: Military Numismatists c/o Marcus Turner 8103 East US Highway 36 Suite 163 Avon, IN 46123 Donors to 2002 Scholarship Fund Steve Feller Harold Kroll R. A. Medina Guido Crapanzano David Seelye ==================================================== 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 Series 661 $5.00 GEM Crisp Unc $25.00 insured postpaid. Series 481 $0.25 1st printing Crisp UNC $60.00 insured postpaid. Series 681 $0.50 Gem Crisp UNC, fresh from pack $20.00 insured postpaid. coinman@rochester.rr.com 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 - MPCGram@Yahoo.com; assistant editor - Phil Goldstein IWANTMYMPC@aol.com Tuesday columnist Joe Boling – JoeBoling@aol.com Thurski columnist Larry “Ski” Smulczenski –skifla@prodigy.net critic: Harold Kroll - MPCKid@AOL.com; index manager: Ed Beaman webmaster & technical advisor: Doug Bell - (Wiz): doug@papermoneyworld.net; 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!? Get email alerts & NEW webcam video instant messaging with Yahoo! Messenger http://im.yahoo.com