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Coins and Currency Weekly(c) is Published by Alan Cohen 
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April 25, 1999
Issue #16

Delaware First Day Covers

Many of the coin periodicals are publicizing an interesting sale - 
The US Mint has 200,00 First Day Covers available, each with two of 
the States Quarters (Philadelphia and Denver Mints) along with a stamp, 
and first day commemoration of the release of these coins. What is 
interesting about this is that the only way to order is via the web. 
There is a limit of one per household, and only internet orders are 
accepted. No phone or fax orders. It will be interesting to see how 
many of these sell, but I decided to get one for my collection. It 
is a bit high, but it could be interesting to have. Plans include 
other first day covers for other quarters.

Pennsylvania Quarters

These quarters are reported to be in active circulation. Thanks to a 
dealer back east, I was able to pick up a couple of rolls of Philadelphia 
quarters at face value. Just as I did with the Delaware quarters, I will 
offer 5 readers the chance to receive one of these coins free of charge. 
Simply e-mail ccw@coinmall.com with your name and postal mailing address. 
I will announce the winners in the next newsletter, and have those coins 
out next week. You MUST respond by Saturday, May 1st to be eligible. 

Guest Contribution

Note: Noteworthy news is submitted by Keith Waugh for publication in this 
newsletter, and does not necessarily reflect the viewpoint of the publisher. 
Anyone is welcome to submit for publication, e-mail me for details.

Noteworthy News
by Keith M. Waugh Sr.

keithwaugh@email.com

- Early Money In The Americas

Reprint in part from the University of Notre Dame - Colonial Currency Personal 
promissory notes (often called I.O.U.'s) have been recognized as legal 
agreements between two or more parties for many centuries. These notes 
serve as a written contract of a transaction undertaken by specified 
parties. In the New World necessity sometimes required these agreements 
to be constructed rather loosely. In 1685, due to a delay in receiving 
their pay chest, French military personnel in Canada were paid with 
playing cards that had been cut into quarters and denominated. These 
cards were then used by the soldiers to purchase items within the area 
of the garrison. In effect the cards were treated as "bearer instruments." 
Rather than record terms between specific individuals the cards were valid 
for exchange by anyone who had possession of them, thus they could 
circulate from person to person. The French government did not sanction 
this necessary but unorthodox situation and considered the cards to be 
personal promissory notes rather than official currency.

- Current Issue U.S. Money For Sale - Really!!!

For those with a pension for stashing their money under their mattress, 
you might want to take note of this offer from the U.S. Bureau of 
Engraving and Printing& They ll sell you money at a tremendous discount!
Unfortunately it’s not in the form that you would normally take 
to the store. It s what the Bureau calls currency residue (shredded money.)

In order to obtain this residue you have to agree to certain requirements. 
These requirements can be found at http://www.bep.treas.gov/curr2.cfm

According to the Bureau, the pre-shredded value does not exceed $165 per 
ounce, but if you wanted to stuff your mattress or pillow with it, I 
imagine that you could be resting (comfortably?) on upwards of one 
million dollars before you know it!

- Hot in the Marketplace

After visiting several pawn shops in my never-ending quest for inexpensive 
foreign currency, and upon receiving email inquiries from other note 
collectors, I ve realized that one of the most marketable collectibles 
right now are Japanese World War II currency issues. My recent experiences 
have concluded they re running about 250-300% higher than Pick Catalog 
(8th ed.) suggested prices. War items have always been a popular genre 
among collectors, but the recent rise in demand for Japanese war issues, 
in my uneducated opinion, my be due in part to the rising popularity of 
oriental things in general with young people due to Kung Fu / Jackie Chan / 
Bruce Lee type entertainment. What will be next?


Until Next Time,

Alan Cohen

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Coins and Currency Weekly(c) (CCW) is published by Alan Cohen. 
It is a weekly newsletter devoted to coins and currency - Current news,
viewpoints, and other collecting information. 

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