Status: U Return-Path: Received: from web12702.mail.yahoo.com ([216.136.173.239]) by runyon.mail.mindspring.net (Earthlink Mail Service) with SMTP id tr4fp5.b4r.37kbi7f for ; Wed, 26 Sep 2001 16:48:37 -0400 (EDT) Message-ID: <20010926204836.57570.qmail@web12702.mail.yahoo.com> Received: from [208.35.163.183] by web12702.mail.yahoo.com via HTTP; Wed, 26 Sep 2001 13:48:36 PDT Date: Wed, 26 Sep 2001 13:48:36 -0700 (PDT) From: MPCgram Subject: MPCGram 445/3 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 445 Wednesday, September 26, 2001 Greensheet MPC update for October 2001 By Fred Schwan The MPC market is strong. It is not scorching like it was for our last special report, but it is strong nonetheless in all areas of MPC. The backbone of MPC collecting is of course regular issue notes and they remain strong with willing buyers of the key notes from fine or even lower through gem unc grades. As usual, the more common notes are strongest in the uncirculated grades. Replacements remain strong, but this is where the sizzle has left. For the past few months the replacement market has been strong but orderly instead of whacky as it was a year ago. Values are now growing—not exploding. There is a large area of caution that encompasses regular issues and replacements. Dealers continued to bring circulated MPC out of Vietnam. Therefore, the prices for circulated Series 641 and 681 have been soft. Series 661 and 692 have also been affected, but not as extremely. The hoards of notes have been somewhat modest consisting of hundreds but not thousands of notes. The hoards have included a sprinkling of replacements, but these have slowed substantially. While the collector market for these replacements has been able to absorb these replacements, the price of a few issues has been affected downward. Specifically Series 641 5¢, 10¢, $5 and $10. In general these circulated regular issues and the replacements mentioned are not recommended for resale unless you have a specific customer or plan in mind. It is important to emphasize that the negative comments above apply to circulated notes. The hoards have not included uncirculated pieces and are not likely too. Series 691 and 701 are now well-known and have now been accepted into collections. Prices have stabilized for sets with collector demand about matching available notes. The heat in the MPC market comes from what collectors call multies. The various MPC series were prepared in as many as four printings. The various printings are identifiable by serial number. This simple fact increased a theoretical collection of regular issue notes from 106 to 163. These additional 57 notes include both common and rare notes and all of them are being actively sought by collectors. In some cases notes that would sell for less than $50 as a type note have sold for thousands of dollars! Unfortunately, the information on these multies is still not widely available. The data on identification can be found at www.papermoneyworld.net and will be covered in even greater detail in the forthcoming edition of the “Comprehensive Catalog of Military Payment Certificates.” In general replacements (indicated by no suffix to the serial number) are strong with far more collectors than notes even though the prices realized are not as volatile as they were a year ago. Here is a secret that even most of the most astute collectors have not acted upon. For every multie regular issue note, there is a corresponding replacement! Furthermore, emerging research indicates that in a few cases there were multiple replacement printings for issues that had only one printing of regular issue notes! While this information is difficult if not impossible to apply at this time, it does indicate an expanding market for MPC replacements! The information on the multiple printings and replacements will be put to the test in November with the sale of the Leo May collection by Lyn Knight Currency Auctions (800 243 5211) at the Chicago Paper Money Expo (CPMX) in February 2002. The May collection includes a complete collection of regular issue notes and the most replacements that have ever been sold publicly at one time. Heck, it is one of the great replacement collections of all time. It includes 75 different replacement by type. This collection is second on the all-time list of replacements and includes many great rarities some of which are being offered publicly for the first time. Beyond the “basic” 75 types are multiple printing replacements which are not only being sold for the first time, but are being identified for the first time in print. The auction also includes a complete progressive proof set of Series 661. This set is from the famous Elmer Smith collection of the early 1970's. This set is believed to be unique and being sold. It will be an exciting and historic event. Fringe and related MPC items are also strong. MPC coupons are gaining in popularity among discriminating dealers and collectors. These issues represent an area of significant growth potential and quick profits too. Significant errors and fancy numbers are popular and strong. Of course the critical problem as with all rarities and specialized areas is finding good material. Finally, the MPC hobby continues to be supported by the daily email newsletter MPCGram which is free upon request at MPCGram@yahoo.com. Questions, barbs, comments and the like are welcome at (419) 732-6683 or fredschwan@yahoo.com. Important Scholarship Donation by Marcus Turner Yesterday I received a new donation from Gail Baker at the ANA. Gail is the leader, backbone--and mother hen--of the summer seminar. The fact that she has recognized our efforts with a personal donation speaks volumes about her and about our efforts. It is time to jump on the band wagon and get your donations in! ============================================== Editorial ----------------------------------------------- The above story about the MPC market was prepared for the Currency [sic] Dealer Newsletter (greensheet). It will appear in the October issue. Obviously the comments are opinions. Your thoughts, comments, criticisms will be most welcome. ============================================== Mail Call ----------------------------------------------- Dear Editor: Regarding the below story, what happened to the concept that one had to do a good deed to receive a challenge coin? Warner Dear Warner, Well, you have a point. In some ways we have prostituted the system in order to maximize distribution. One justification is that the only way to get one for free is to do something good. The others have to purchase them! Editor Leave it the the gram-meister to tell us about something in the September WCN after the October issue has arrived (so now the September one has been distributed to some curious attendee at the Puyallup Fair, and I can't go back and check the item Herr Meister wanted me to see). Suffice to say I did not notice the JIM offer on the wrapper, and I agree with Herr Meister - I would rather have seen KP create something specific to themselves. Joe Dear Joe, Hey at least it was from Sep 2001! Editor ================================================ Departments ------------------------------------------------- Calendar of events for Gramsters maintained by Howard Daniel, Nancy and John Wilson and Gram staff, last updated September 7, 2001 show reports are requested on all events. Even if it was not a great show, there must be something to report. What and whom did you see? Market activity? Share your observations and thoughts with Gramsters everywhere. ---------------------------------------------------- September 27 - 30, 2001, North East Ohio Coin Club, 41st Annual Show, 100 Tables, Holiday Inn, Route 82 At I-71, Strongville, OH [Leo May will not have a table at this show as prevously reorted, but he will probably be in attendance on Saturday] Phillips Auction October 4, 2001 October 5-6. 2001Remy Bourne Literature Auction featuring selections from the Katen library. Contact Remy at 1/800789-7005 for information October 4 - 7, 2001, long Beach Coin and Collectible Expo Long Beach California Convention Center, 400 booths, Educational Programs, Auctions by Heritage and Ponterio Spink Auction October 5, 2001 World Paper Money Fair, run by London Chapter of IBNS, October 6/7, 2001 Special "MPC" events 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, Doug Bell, Sam Feeback, Fred Schwan {running total 16}] 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, 2002) --------------------------------------------------- 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 Steve Feller Harold Kroll R. A. Medina Guido Crapanzano David Seelye Leo May Warner Talso Marv Mericle Mark Watson ==================================================== 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 641 $10.00 replacement pin holes VF $225.00 postpaid insured, 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 distribution manager - Brad Peacock bp22@swbell.net 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