From: MPCgram Date: Friday, December 06, 2002 09:28:58 PM To: mpcgram@yahoo.com Subject: MPCGram 796 ============================================== MPC GRAM ============================================== Covering the entire World of Military Numismatics Series 004 - Number 796 Friday December 6, 2002 Secretary Paul O’Neil Out Breaking news from Washington is that Secretary of the Treasury Paul O’Neil is resigning. At this time there are no details regarding effective date or replacement. My thoughts on MPC VOID Notes Philip M. Goldstein Lately, there seems to be a great influx on the MPC Market of the "VOID" or "EVIDENCE" Overprint notes. These notes are known to exist, which in itself is not the problem, but the increasing occurrences of these notes being made for sale is becoming a concern. There are to date, two distinct types of these stamps or overprints, and they are known only on the $1, $5, $10, and $20 denominations. The Type 1 (purple/magenta) overprint is much more common than the Type 2 (black), and with the Type 1, of the four denominations listed, the $1 and $20 examples are the most prolific, and the $5 and $10 being the scarcer: Type 1 Ink Color: Magenta Style: Text in a rectangular box, measuring 3 5/8" x 2 1/8" Text: NOT NEGOTIABLE VOID VALID AS EVIDENCE ONLY Type 2 Ink Color: Black Style: Simple two line statement Text: NOT NEGOTIABLE CID EVIDENCE In short, MPC that was used in illegal deeds (black marketeering, drugs, etc..) that was confiscated by Military Officials, was stamped with one of the two overprints, and thereby deemed the confiscated MPC worthless. Now the exact amount of MPC that was confiscated and stamped is unknown, and in reality with the large amount of illegal activities in Vietnam, theoretically, there should be great quantities. Examples have surfaced since the US withdrawal from Vietnam in 1973, but they were far and few between, and did warrant a premium over the regular value of the note that was stamped. Lately, however it seems that within the last year, there has been an explosion of availability and regularity of the notes, and for no confirmed or publicized reason. At the time of this writing, 12/03/02 (and in truth the inspiration) of this section of this webpage, a paper money dealer located in Vietnam offered both overprint types in several denominations on eBay. An article by Bill McNease in both the MPCGram, and the book: Military Payment Certificates, 4th Edition by Fred Schwan, explains in detail on page 143, how these overprints came to be. He also states that "The notes were mostly five and ten dollar notes with very few twenty dollar notes. I do not recall and one dollar notes that were stamped but there must have been some. I think we just discarded the fractionals." Yet, the most common of the VOID overprints are the $1 and $20 dollar notes. I know there must have been other bases involved with prosecuting offenders and confiscating MPC, but it seems true to form (for the military) that for the most part, the same guidelines and procedures would apply theater wide. Which leaves one to wonder why the $1 and $20 were not common there and now are, and the $5 and $10 which were prolific, but now aren't. A perfectly legitimate reason for an influx of these VOID notes, could be a horde or cache of the confiscated notes was uncovered or located in Vietnam, and dispersal started when trade with Vietnam resumed, as a result of the lifting of the trade embargo in 1994, and the signing of the bi-lateral trade agreement in 2000, about when these notes started appearing prolifically. However, one would think, a discovery of this magnitude would warrant a story or article in a newspaper or numismatic journal. It could have been discovered and kept quiet to boost profits, but I doubt this as the notes are appearing from different sources, sellers, etc.. and as the $5 and $10 notes are still scarce. Therefore, I have a very strong suspicion, and no proof to substantiate what I am about to say, and I'm sure some people will dispute it, but I firmly believe that the recent offerings of the VOID notes are modern counterfeits. Meaning someone replicated the overprint stamps, or even possibly found the original stamps, and is stamping regular circulated MPC notes to try and sell to command a higher price. I urge all MPC collectors to exercise the utmost vigilance in purchasing these notes. With as many notes as have come on the market in recent months, their availability has become much easier, with many MPC dealers having a selection of these notes in varying grades. I feel a substantial premium for these notes is no longer warranted, and maybe only a small price difference reflecting the availability differences of $5 and $10 and the $1 and $20 notes of Type 1. ============================================== Editorial ============================================== I was surprised at the timing of Secretary O’Neil’s resignation as Secretary of the Treasury. Certainly there have been rumors about changes in President Bush’s financial team, but I did not expect to see a change this abruptly. Of course, the administration did not consult me and who really cares what I think? However, the change of this position is always of interest to paper money collectors because it means that ultimately there will be a new signature on our circulating paper money. That is not so terribly important for our specialty, except that O’Neil’s (I love it, two apostrophe’s in one word) signature also appears on the current Patriot Bonds. He was also the father so to speak of this issue so this change does have some significance for us. Fred ============================================== Mail Call ============================================== Dear Gram, Did I forget to pay may bill or what? I have not received a Gram since 11/27 (Gram 789). Sure do miss it. Wanted to be sure everything is OK. AL Dear Al, We have checked our records and can find no indication of having received your check. Seriously, we do not have a clue of what might have happened. We worry that we could lose Gramsters in siber space an never know it. To the rest of you, if you did not receive this message, please contact us! Editor ============================================== CALENDAR OF EVENTS ============================================== 2002 December 6 (DAWN meeting at 7 PM at the Bear Valley American Legion Hall on Mississippi just west of Federal in SW Denver.)-7, opening of World War II Numismatics exhibition at American Numismatic Association Museum, Colorado Springs, CO. 10 a. m. A special ceremony will begin at 10:55 a. m. marking the moment of attack on Pearl Harbor. [Joe Boling and Warner Talso confirmed] 2003 FUN Florida United Numismatists, Orlando, 9 - 12Jan 2003 Confirmed table holders and attendees [Leo May (table), Fred Schwan (table), David Seelye (table), Larry Smulczenski (table w/Schwan), Harold Kroll, Marcus Turner, Howard Daniel, David Amey, Rod and Wes Hardy, (with table), Al Glaser, others please confirm. CPMX 9: 20 - 23 February, Chicago, IL MPC Fest IV: 28 Feb - 2 March, Port Clinton, OH Fest Registrants: Doug Bell, Joe Boling†, Guido Crapanzano†, Dick Freyser, Philip M. Goldstein$$, Gary Hicks, Harold Kroll, Jack Lippincot, Kevin Maloy, Leo May$$, Fred Schwan, David Seelye, Nick Shrier, Larry Smulczenski$$, Warner Talso$$$, Marcus Turner, Tom Warburton, Mark Watson, Bill Yanchick, Tom Koch, Nancy and John Wilson†, Bill McNease, Cuneyd Tolek†, Wenell Wolka†, Al Glaser. Registration fee: $148 double occupancy $198 single occupancy (including meals and motel). Payments may be sent to BNRPress, 132 E. Second St., Port Clinton, OH 43452 or via PayPal to fredschwan@yahoo.com. Suggested airports in order of desirability: Toledo, Cleveland, Detroit (attempts will be made to provide ground transportation to/from these airports) $$ = Paid Running total: 26, †=new fester. ANA National Money Show, March 21-23, 2003, Charlotte (NC) Convention Center, Contact ANA Convention Department at convention@money.org or JoeBoling@aol.com for forms to exhibit. Hours are 10-6:30 Friday & Saturday & 10-2 Sunday. Hotels are The Westin Charlotte (704-375-2623) and the nearby Hampton Inn Charlotte Uptown (704-373-0917). Howard Daniel will be manning a joint NI/NBS/IBNS club table where Gramsters can meet each other. He is also conducting a joint NI/IBNS meeting on Saturday and invites all Gramsters to the meeting's show and tell session and to meet other collectors with similar interests. Masstricht April 4-6, Valkenburg, The Netherlands, contact Jos Eijsermans, Box 3240, NL 5930 Tegelen Netherlands ======================================== 2003 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. 2003 Scholarship Donors Ed Hoffman RA Medina Dick Freyser Larry Smulczenski David Seelye Howard Daniel Steve Feller Warner Talso Pam West Mr. 691 Leo May John & Nancy Wilson Max Spiegel Contact me at: "Marcus Turner" maturner@indy.rr.com Checks should be made out to the "Military Numismatists Scholarship". or Marcus Turner 8103 East US Highway 36 Suite 163 Avon, Indiana 46123 USA ========================================================= MPC ANA Museum Project ========================================================== Below is a list of the MPC holdings in the ANA Museum at this time. It goes without saying that donations of additional notes will be most welcome. Series 100 – [50 sen] Series 461 - 5 cents Series 471 - None Series 472 – [5 cents] Series 481 - 5 cents, [10 cents,] 50 cents, $1 Series 521 - 5, 15, 25, 50 cents Series 541 - 5, 10, 25 cents Series 591 - NONE Series 611 - NONE Series 641 - 5, 10, 25, 50 cents, $1, $5, $10 Series 651 – [$1] Series 661 - [10, 50c], [$5], $10 Series 681 - 5, 10, 25, 50 cents, $1, [45] Series 691 - [$1, $5, $10, $20] Series 692 - 5, 10, 25, 50 cents, $1 Series 701 - [$1, $5, $10, $20] [50c etc.] = notes donated by Gramsters contact Chris Connell ANA Museum Collections Manager 818 North Cascade Ave. Colorado Springs, CO 80903-3279 collections@money.org (719) 632-2646 ======================================================== RESEARCH ======================================================== Papermoneyworld maintains an innovative interactive data base of all military payment certificates. Everyone is invited to enter notes in their possession or that they have observed. Visit the site at: http://www.papermoneyworld.net/user/default.asp this project is financially supported by David Seelye www.thempcman.net, coinman@rochester.rr.com ========================================================== Subscription information: ========================================================== You can enter an email address to receive the gram by using the link below. Use this to change your address (add the new one), add a friend or enemy. http://www.papermoneyworld.net/WebMailList/Default.asp =================================================== HOT CONTACT LIST - DEALER & RESOURCE LIST Below is the BNR Press Hot Contact List. This list serves several functions. Obviously it is an outreach by the dealers listed for your business. Most of them buy and sell MPC. Others organize shows or publish periodicals, or furnish information dedicated to this field. They have supported the new Comprehensive Catalog of Military Payment Certificates with their advertising. They deserve your support and patronage! Name phone fax / cell email Allens (614) 882-3937 (614) 882-0662 info@allens.com American Coins & Collectibles (800) 865-3562 American Numismatic Ass'n(800) 367-9723 ana@money.org Guy Araby(562) 945-7891(310) 508-0018 guyaraby@earthlink.net Bob Baker(713) 864-3122 Ken Barr (408) 272-3247 ken@kenbarr.com Fred Bart (810) 979-3400 Dick Balbaton(508) 699-2266 (508) 643-1154 RBalbaton@aol.com Keith and Suzanne Bauman (248) 647 8938 tnaksbauman@earthlink.net Joe Bissell (602) 440-0442 (602) 494-9103 BNR Press(419) 732-6683 (419) 732-6683 fredschwan@yahoo.com Remy Bourne(800) 789-7070 (763) 789-4747 Ed Carne (614) 882-3937 (614) 882-0662 info@allens.com Champion Stamp (212)489-8130 (212) 581-8130 Cookie Jar Collectibles (301) 604-9225 cjcpi@comcast.net Guido Crapanzano [39] 2-8056228 [39] 2-4459856 Currency Dealer Newsletter (310) 515-7369 David F. Cieniewicz(205)852-7015 CGC (602) 493-4758 (602) 494-9103 sales@gradedcurrency.com Mike Cummings (863)603-9899 (863) 603-9880 mpccoin@hotmail.com Cygnet Charters(419) 734-2422 Ray Czahor (301) 604-9225 cjcpi@comcast.net Doric Coins & Currency (508) 699-2266 (508) 643-1154 FUN(407) 321-8747 Philip M. Goldstein : (845) 586-4672 iwantmympc@aol.com Great Lakes Bank Note Company(419) 732-6683 IBNS joeboling@aol.com Essie Kashani(909) 627-3996 (909) 627-2776 kashani10@aol.com Lowel Horwdel (765) 583-2748 (765) 583-4584 horwdel@inshightbb.com Lyn Knight(800) 243-5211 Krause Publications (715) 445-2214 (715) 445-4087 bnr@krause.com Harold Kroll(251) 649-5134 HARBONS@aol.com Leo May (305) 271-8391(305) 720-0695 LeoMayEnt@aol.com or Wide World of Banknotes Ian Marshall(416) 445-0286 (416) 445-0286 iam@total.net Memphis Coin Club (901) 757-2515 MPCGram (419) 732-6683 MPCGram@yahoo.com Pomexport Ltd. 1-201-641-6641 / Fax: 1-201-641-1700 E-Mail: Info@pomexport.com // website: http://www.Pomexport.com Bob Reed(504) 361-5684 bobreed@rrcoins.net Fred Schwan (419) 732-6683 (419) 732-6683 FredSchwan@yahoo.com David Seelye(585) 594-1987 (585) 594-2311 coinman@rochester.rr.com Richie Self (318) 868-9077 R. M. Smythe(800) 622-1880 (212) 908-4047 www.smytheonline.com Mel Steinberg & Son(415) 453-9750 (415) 457-4432 melsteinberg@mindspring.com Military Trader(800) 334-7165 Scott Winslow Associates (603)472-7040 (603) 472-8773 scott@scottwinslow.com George Warner(307) 672-3700 Pam West [44] 0208 641 3224[44] 0208 641 3224 pamwestbritnotes@compuserve.com =================================================== 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. FOR SALE: 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. WANTED - I have a want list for the gram which consists of JIM notes that I have been unable to find to date: Burma (JIM ) - Ten cents fractional letters. Malaya (JIM ) - one cent 2 letters. Malaya ( JIM ) - ten cents 2 letters. Netherlands East Indies Tien cents 2 letters. =================================================== MPC CATALOG CORRECTIONS & ENHANCEMENTS Page 18, Bottom - Users of Military Payment Certificates Check marks were omitted from production copies of books. Please check off the following: Australia: 641, 661, 681, 692 Canada:461 through and including 591 Korea: 641, 661, 681, 692 New Zealand:641, 661, 681, 692 Thailand: 641, 661, 681, 692 United States: All (date listed: 02 APRIL 2002) Page 201, Bottom Right - Very last sentence on this page Two serial numbers listed for the second printing of Series 472 .50 cent notes. The first serial number listed is obviously in error as a nine digit number: C040351392C Correct Serial Number is: C04035139C D Freyser (date listed 10 April 2002) Page 207, #833/4 - Series 481 .25 4th Printing (table listing serial number breakdowns) line 5 Start Number is incorrect. It appears as: (start) D14784001D(end) D14784000D Correct start number should be: D09408001D PK6 (date listed: 03 APRIL 2002) Page 214, #855/r2 - Series 541 $1 Replacements, Ending serial number is incorrect Correct number is F1112000 (date listed: 02 APRIL 2002) Page 220, #884/2r - Series 641 .50 Replacements On page 284, it is broken down into 2 printings. That's correct, BUT, on page 220 he lists only (1) printing reported. It should "list" both first and second printings. Guy Araby (date listed 04 APRIL 2002) Page 287, Series 661 Series Summary, 25 cent note: the "list" shows "#CU as 10(7) . It should read, 8(7). As only 8 are known in CU. Just recount P.289. Guy Araby (date listed 08 APRIL 2002) Page 398, Series #541 $10 on "UNC." price is $2500, on P.214 the UNC. price is $3500. Also the rest of the prices don't match all the way to "VG" on this issue. They should be the same price. Guy Araby (date listed 08 APRIL 2002) =================================================== MPC Gram Staff: Publisher: Fred Schwan - MPCGram@yahoo.com Editor: Philip M. Goldstein - IWANTMYMPC@aol.com Subscription Manager:Doug Bell - doug@papermoneyworld.net Tuesday Columnist : Joe Boling - JoeBoling@aol.com Thurski Columnist: Larry "Ski" Smulczenski - skifla@prodigy.net Friday Columnist:Fred Schwan - MPCGram@yahoo.com Critic: Harold Kroll - HARBONS@aol.com Scholarship Coordinator: Marcus Turner - maturner@indy.rr.com Index & Back Issue Manager:vacant Webmaster & Technical Advisors:Doug Bell "Wiz" - doug@papermoneyworld.net Russ Walsh - russ.walsh@gte.net Fact Checker: Warner Talso - Calendar Coordinator: John & 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!? Yahoo! Mail Plus - Powerful. Affordable. Sign up now. http://mailplus.yahoo.com .