CUBAN NUMISMATIC ASSOCIATION                  NEWSLETTER 3-08

IS A 501(c) 3 ORGANIZATION (see newsletter 2-07)                             JULY 2008     

 

WWW.CUBANUMIS.COM                                             

Frank Putrow  (04)– President                                                                 

Andres Rodriguez (04) – Vice President                                                          Editor – Frank Putrow

Marysol Cayado (04) – Secretary                                                                         Fxputrow@aol.com                        Robert Freeman  (04)– Treasurer

Board of Directors   Richard Becker (04), Larry Casey (04), Jesus Inguanzo (08), Stan Klein (04), Emilio M. Ortiz (04) and Rudy Valentin (07).                                    Parliamentarian – Larry Casey.                         Chairman Communications Committee – Stan Klein.    Chairman Nomination Committee – Vacant.    Chairman Finance Committee - Emilio M. Ortiz.      Associate Director/Research – Enrique Cayado

 

Cuban Numismatic Association is a member of:

Florida United Numismatists (FUN) – www.funtopic.com

American Numismatic Association (ANA) – www.money.org

American Numismatic Society (ANS) – www.numismatics.org

Latin American Paper Money Society (LANSA) – www.lansa.bz  

 

NEWSLETTER INDEX

 

Page 2-3       CNA YOUNG NUMISMATIST (YN) ESSAY CONTEST WINNER.

Page 3           QUIZ.

Page 3-4       MEMBER PROFILE.

Page 5-8       CUBAN SUGAR TOKENS (Section 4).         

Page 9-10     JESUS INGUANZO RETURNS TO CUBA.

Page 10-12   SEA OF GOLD AND SILVER AROUND CUBA.

Page 12-16   COUNTERFEIT COINS AND HOLDERS

Page 16-17   CNA NEWSLETTER ARTICLE INDEX.

Page 18-19   FROM THE KITCHEN.

Page 18-19   RECENT AUCTION RESULTS. .

Page 21-22   WANT ADS.

MEMBERSHIP DUES - IMPORTANT

Members are reminded that their 2008 MEMBERSHIP DUES were due, effective January 1, 2008.

If you are not current with your 2007 dues, this is a good opportunity to pay both years and become “paid up”. Members who pay their 2008 dues will receive the newly designed membership card, AND a new Cuban Five Centavo “wooden nickel”.

The regular annual membership fee of $10 ($5 Jr.) may be paid by check and mailed to Treasurer Bob Freeman at 523 N. Meridian Street, Tallahassee, FL. 32301-1281. Members who reside outside of the United States, or prefer not to mail a check, may pay, along with an extra dollar to PayPal, using the PayPal ID of Fxputrow@aol.com. The extra $1 will cover the PayPal commission. Please use the CNA membership application if any personal information has changed, such as address, email, etc., and mail it to Bob Freeman with the check.  If paying by PayPal, make the appropriate notation in the REMARKS section. IF you are not sure if you are current with your 2007 dues, please contact Frank Putrow at Fxputrow@aol.com or call 727 5317337.

If you are current with your dues –THANK YOU!!

Dues to the Association can be deducted on your 1040 tax form in certain circumstances.   
CNA members, who pay dues and receive the newsletter by email, are considered members making charitable donations to the club, and the Association dues are deductible on their 1040 tax form. 
Those members, who pay dues, but request that newsletters be mailed to them, should assume they get value for their donations and therefore should not consider Association dues as deductible charitable donations.

 

CNA COMMEMORATIVE COINS/MEDALS are no longer available. They have all been sold except a few, which will be retained for CNA usage, such as awards, etc. There are no current plans to purchase a second order from the manufacturer.

 

 

CNA ESSAY CONTEST WINNER, FOR YOUNG NUMISMATISTS, IS SELECTED.

Peter Gordon, a 16 year old junior numismatist from Lipan, Texas, has been selected as the winner of the Cuban Numismatic Association Essay Contest for Young Numismatists. As the winner, Peter received a Cuban 1896 10 Peso note, an 1897 20 Centavo note, and an 1897 10 Centavo note. The preceding notes were donated by CNA member G.K. Graham, Memphis, TN., who requested that they be given to a Young Numismatist.

Peter will also receive a one ounce silver CNA Commemorative coin/medal, a 1959 100 Cuban peso replica, a “wooden” 5 centavo (nickel), and a complimentary 2008 membership in the CNA.

 

Attempts to use the local newspaper to present Peter with the awards were unsuccessful due to the remote area in which Peter lives. The closest active Coin Club is in Houston, which is about 100 miles away. Peter’s family will provide a photo to the CNA, and it will be published in the next newsletter.

 

His essay (w/o editing) follows:

      What Young Numismatists (YN’s) Enjoy

                      About Collecting

I believe that what YN’s enjoy about numismatics most is the feeling of accomplishment. I know I always feel like that I’ve accomplished something great, every time I add a new coin to my collection.  It’s such a rush whenever I’ve just found my latest coin and get to add to the rest of my collection.  Another thing I enjoy about numismatics is getting to meet other collectors at shows and the coin store. It’s great to meet and discuss with other people what they’re collecting, what they think of the hobby, and just how they’re doing.

Numismatics, to me, is also a lot about history. I love learning about the history of a piece, and what was going on in the world when it was produced. 

       In general, there are a lot of things I enjoy about numismatics, and I know it’s a hobby I’ll keep with me until I’m gone.  And after I’m gone, I hope that I’ll have passed on my love for the hobby to someone else who will continue collecting for a long time to come.   Parker Gordon   4-28-08

 

 

??QUIZ??

What is the difference between Proof, Proof-Like, and First Strike coins?

Answer found on page 20.

 

 

MEMBER PROFILE

Since the membership of CNA is so diverse, and separated geographically, it may be feasibly impossible for our members to meet and get to know one another. This section will highlight a member, or members, in each newsletter, providing a brief background of the person(s), so the membership may know a little about the person(s). It will be 100% voluntary. The officers and board members were first to provide their background, followed by the charter, then the regular members.

Jim Groh – Charter Member # 25

I was born August 9, 1953, in St. Augustine, Florida - the nation's oldest city and the same city where my father was born twenty years before me. Upon Dad's completing his military service after being stationed at Nellis Air Force base near Las Vegas, my family moved to Miami in 1959.  Of course, that was the year Fidel Castro took over in Cuba.  Perhaps this was an omen of my eventual fascination with Cuban numismatics!

In Miami, I attended Ponce de Leon Junior High and Coral Gables High School. I started my college career at the University of Miami, then transferred as a junior to Florida State University, where I ultimately received my degree in psychology.  I enjoyed the academic life in Tallahassee, so I enrolled at FSU Law School, where I earned my law degree in 1978. Upon graduation, I returned to Miami to begin the practice of law. I built a successful career in commercial real estate law, and since 1983, have been a member of Holland & Knight LLP, one of the largest law firms in Florida and the U.S.  In 2002, I moved from Miami to Jacksonville, to help expand the law firm's statewide real estate practice in this city.

 

I first began collecting Cuban coins in earnest in 1990, when I purchased a 1915 gold peso and 1916 four peso from South Miami Coins.  I've been obsessed with Cuban coins, banknotes, medals and tokens ever since. Although Cuba remains my prime numismatic passion, I also collect the coins and notes of Chile, Peru, Paraguay, Guatemala, Czechoslavakia, Annam, French Indo China, France and the French colonies, as well as Greek ancients.  My pre-revolutionary Cuba collection is approaching some degree of completeness, although I still have a way to go on the 19th century Banco Español banknote issues, and several of the tokens catalogued by Roberto Pesant. To my wife's chagrin, I have thus far only collected but never sold anything from my Cuba collection.  The single exception was a sale in 2006 of two proof Marti gold coins, a 1915 5 peso and a 1916 1 peso, which I acquired previously from David Akers' 1999 Pittman sale. They were beautiful coins but I came to realize how challenging it would be to locate, much less afford, the remaining gold proofs (especially the 20 pesos) necessary to complete the set.

 

I first met Frank Putrow at the 2002 Jacksonville ANA Show, where he sold me a lovely Spanish proclamation medal, as well as some fascinating cards printed in Cuba in the 1950's to promote tourism on the island and incorporating actual Cuban coins and banknotes.  At that time, Frank described to me his intention to create a "Cuban Numismatic Association", which he has since certainly accomplished with great success!  I regret that I've not yet had an opportunity to meet other CNA members, although I travel to South Florida often as I continue to have an office there and my lovely wife Glynda, who is a flight attendant with American Airlines, and is based at MIAMI during the week. My son also continues to live and work in Miami.  He is not yet a coin collector, however he has developed a fine appreciation for Cuban girls!

 

 

 

 

 

 

 

TOKENS OF CUBA

CUBAN SUGAR ESTATES – SECTION FOUR

by Rudy Valentin, CNA Director and Charter member.

Every country in the world has had, at one time or another, the necessity to issue what we call tokens, or private unofficial coinage. There are many reasons, but all have the same purpose; to benefit an individual or entity.

Cuba was a Spanish colony which suffered the most for lack of official minor coinage. The colonists (military, as well as tobacco and sugar plantations) took advantage of this situation, and issued tokens. They paid the peasant workers with their private tokens, and in turn, the peasant worker bought their staples at the “company store”. Of course, the prices were inflated, which resulted in the company reaping double profits. In addition, tokens were issued by the government for transportation purposes.

Tokens have always been collected by the inhabitants of certain areas, but it is only recently that tokens have been popular among collectors. This is primarily due to the increasing price of coins, and published works about the various types of tokens.

Around 1960, the eminent numismatist Henry Christensen, published a series on Cuban tokens in his mail auction catalogs. This information was initially developed by Roberto Pesant, whose research in Cuban Numismatics is unsurpassed. Mr. Pesant listed the Cuban tokens in four major groups: sugar estate or plantation (centrales or ingenios), tobacco plantation, military, and transportation. It is not known if Mr. Pesant developed a separate segment for the commercial tokens, other than above.

This section is the last of four sections, which are a reproduction of the Sugar Estate Tokens of Cuba, as published by Henry Christensen in his mail auction catalog #60, dated October 22, 1976.

 

Repeating, for your convenience – the following initials are used for the Cuban Provinces:

C. = CAMAGUEY

H. = HABANA

L.V. = LAS VILLAS (SANTA CLARA)

M. = MATANZAS

O. = ORIENTE (SANTIAGO DE CUBA)

P.R. = PINAR DEL RIO

In the listings which follow, the estate name is given first, followed by its location and province.

 

TACON – Santa Clara (?), L.V.

396. Five Cents – 16mm – Brass.

        Obverse – TACON

        Reverse – CINCO/ CENTAVOS

 

TINGUARO – Colon, M.

397. Value unknown – 33 X 34mm – Brass.

        Obverse – CENTRAL / TINGUARO

        Reverse – F. BUCH HABANA

Description by Ramsden. This token is a pattern for an issue. The name on the reverse is the engravers.

.

TRINIDADTrinidad, L.V.

398. Value unknown – 27mm – Brass.

        Obverse – COLONIA TIENDA TRINIDAD

399. Value unknown – 23mm – Brass.

        As above except for size.

Description by Ramsden. These are plantation tokens presumably of the above assigned estate.

 

 

 

TUINUCU – Sancti Spiritus, L.V.

The following is a plantation token:

400. Five Cents – 26mm – Octagonal – Aluminum.

        Obverse – COLONIA LA / ESPERANZA / DE/FANJUL/ RISLEY Y CO/ 5 C/ FRANCISCO. CUBA

        Reverse – VALE POR/ 5 CENTS/ F.R. (monogram) Y CO/ AL COMPRADOR EN / EFECTOS DE/ CINCO     

                          DOLLARES

 

UNIDAD – Sagua, L.V.

401. One Peso – 38mm – Brass.

        Obverse – 100 / THE UNIDAD SUGAR CO. UN PESO

        Reverse – VALEDERA PARA/ EMPLEADOS/ DE/ UNIDAD/ SOLAMENTE

402. Fifty Cents – 33mm – Brass.

        As above except for value: 50.

 

403. Twenty Five Cents – 28mm – Brass.

        As above except for value: 25.

404. Ten Cents – 25mm – Brass.

        As above except for value: 10.

405. Five Cents – 23mm – Brass.

        As above except for value: 5.

406. One Cent – 18mm – Brass.

        As above except for value: 1.

 

UNION DE CUAVITAS – Cuuavitas, O.

407. Fifty Cents – 22mm – Brass.

        Obverse – U. DE C.

        Reverse – 50 / CENTAVOS

The attribution is uncertain.

 

UNION – Sagua, L.V.

408. Ten Cents – 22mm – Brass.

        Obverse – C.U.

        Reverse – 1 / REAL / VALE.

 

VERBENA – Sancti Spiritus, L.V.

409. Value unknown – 18mm – Brass.

        Obverse – VERBENA

        Reverse – TINOCO Y Ca ***

The name on the reverse is the store owners.

(Editor’s note: This is probably a Costa Rican token.)

 

VICTORIA – Gibara, O.

410. One Wage - 25 mm – Nickel.

        Obverse – Old fashioned Plow/ * INGENIO VICTORIA * GIBARA

        Reverse –  S.C./ VALE POR UN JORNAL *1890*

411. One Wage – 21mm – Nickel

        As above except a Scale in lieu of a Plow.

412. One Ration – 21mm – Nickel

        As above except for value: UNA RACION

413. Half a Ration – 18mm – Nickel

       As above except for value: MEDIA RACION 

According to Ramsden, S.C, as found also for the ANGOSTURA tokens NO. 15, (his 2) stands for the Vedra y Camara, the owners. In this case, presumably it is coincidence, for the estate belonged to S. Calderon.

 

 

VIOLETA  – Aguada, M.

414. Fifty Cents – 28mm – Aluminum.

        Obverse – VIOLE/ SUGAR CO./ TIENDA/ CUBA

        Reverse – DESPACHE/ 50 C/ MERCANCIAS

415. Twenty Cents – 24mm – Brass.

        As above except for value: 20

416. Ten Cents – 22mm – Aluminum.

        As above except for value: 10

417. Five Cents – 22mm – Brass – Octagonal.

        As above except for value: 5

418. Two Cents – 18mm – Brass – Octagonal.

        As above except for value: 2

419. One Cent – 18mm – Brass – Square.

        As above except for value: 1

 

VUELTAS – Vuelta Abajo, P.R.

420. Five Cents – 24mm – Brass.

        Obverse – C.Y.

        Reverse – 5 CS

C.Y. is for CENTRAL YARA.

 

UNASSIGNED

The following tokens have not been assigned to specific estates because their attribution is more than reasonably doubtful.

422. Value unknown – 25mm – Brass

        Obverse – Fountain with water spilling down.

        Reverse – ACUEDUCTO

There once existed a small estate near Vento, or ACUEDUCTO (Water Works).

 

423. One Peso – 35mm – Brass.

        Obverse – 1 Peso (incuse)

        Reverse – Blank.

Eklund lists it, spelling it CATARINA, NO. 1881. He mentions that it is listed by Guttag. There was an estate called CATALINA, at Guines, H.

 

424. Five Cents – 27mm – Brass.

        Obverse – CENTRAL / OCOA

        Reverse – 5 / CENTAVOS

I have no record of the existence of an estate by that name.

 

425. One Peso – 26mm – Brass.

        Obverse – U. C1.

        Reverse – 1 / PESO

U. C1. could perhaps mean UNION CENTRAL, but it is very uncertain. There was another estate named UNION at San Luis, O.

 

426. Ten Cents – 24mm – Brass.

       Obverse – 10/ S. BALBIN Y VALLE CIENFUEGOS

        Reverse – Blank.

Could perhaps belong to a nearby estate; HORMEGUERO.

 

427. Twenty-Five Cents – 27mm – Copper.

        Obverse – 25 / b. DU B./ CENT (incluse)

        Reverse – Blank.

It has been suggested that it belongs to the NIQUERO estate. There was a store owner called Dubernoy there.

 

428. Value unknown – 19mm – Copper.

        Obverse – Within a circle, C.S.H. (incluse)

        Reverse – Blank.

The C.S.H. may perhaps stand for CENTRAL SANTA HERMINA, of Matanzas.

 

429. Ten Cents – 23mm – Copper.

        Obverse – C.F. / 10 (incuse).

        Reverse – Blank.

The C.F. may perhaps stand for CENTRAL FUENTE, of Las Villas.

 

 

430. Five Cents – 24mm – Brass.

        Obverse – MANUEL INTRIAGO Y CO.*

        Reverse – 5/ VALE POR/ CENTAVOS.

 

431. Ten Cents – 27mm – Copper.

        Obverse – 10/ SANTOYO

        Reverse – Blank.

There is no record of an estate by that name.

 

432. Forty Cents – 27mm – Brass.

        Obverse – J.B. SEIJAS.

        Reverse – Large 4.

 

433. Twenty-Five – 26mm – Copper.

        Obverse – 25 / D. DE LA V. (incuse)

        Reverse – Blank.

 

434. Two an a Half Cents – 18mm – Nickel

        Obverse – CABEZA/DE/QUESO / J. VILA Y CA. TRINIDAD

        Reverse – UN/CUARTILLO

CABEZA DE QUESO translates “Head of Cheese”. Although there was an estate called CABEZA at Placetas, it is not near enough to Trinidad to merit consideration.

 

THIS CONCLUDES THE LISTING OF ALL THE TOKENS FOUND IN THE SERIES OF TOKENS, PUBLISHED IN THE EARLY 1960”s BY HENRY CHRISTENSEN. HE USED THE RESEARCH OF ROBERT PESANT AS THE NUCLEUS OF HIS SERIES.

The entire series can be found beginning with CNA Newsletter 4/07 (October 2007).

 

 

 

CONGRATULATIONS to JORGE RODRIGUEZ, who recently became a citizen of the UNITED STATES. Some of you may recall Jorge’s interesting events on how he and his family left his homeland of Cuba. See page 2 of newsletter 2-07. He was also photographed with President Bill Clinton in NYC. See page 21 of newsletter 4-07.

 

 

 

 

 

 

 

MEMORIES IN THE RUINS

By Jesus Inguanzo, CNA Director.

Editors comment:

Jesus Inguanzo, summoned by his half-brother, who was very ill, returned to Cuban after 47 years. Both he and his wife, Dora, had not planned to return to the country of their birth, but family ties are strong. This is his story of their trip. Jesus included a photo of the Museum entrance, but the photo was a very large file, so it will not be a part of this newsletter.

 

Memories in the ruins, sidetracked for a few hours by a visit to the Cuban Numismatic Museum in Havana.

 

When I left Cuba at 11 years of age in 1961, alone, I left my mother and sister in La Habana, I left hoping I would be away from them for just a few months, either they would join us soon or Castro would be ousted from power.

Most of our family finally re-joined in Miami, and, 47 years later, all I have left in Cuba are memories in the ruins and a 70 year old half brother, very sick from a weakening heart and mal-nourished body, the cradle of my heritage and the origin of the coins that make me a numismatist.

 

After a couple of days of family gatherings, and seeing the total deterioration and destruction, both physically and morally, of the place I was born, where I went to school, where I played baseball, I knew I could find comfort in the newly restored Cuban Numismatic Museum.  The Museum is located smack in the middle of Old Habana, surrounded by three and four hundred year old buildings (some beautifully restored, some collapsing into the streets) on Calle Obispo (Bishop), the Museum stands out from the rubble, freshly painted, clean, glass double doors, like a proof  20 Peso among badly stained and corroded pennies. 

The excitement did not vanish inside, from the beautiful Cuban numismatist (Dora was with me) that is in charge of guiding you through the exhibits, to the exhibits themselves, starting on the first floor and continuing in a spiral stroll through the hall onto a beautiful 200 year old marble staircase that takes you to the second floor exhibits. The first floor exhibits contain beautiful French and Spanish medals and decorations from the 16th through 19th century Colonial period of Cuba along with some Cuban children’s personal collections, as well as, Fidel Castro’s personal collection of world gold coins, that were recently donated to the Museum.

The second floor hall exhibited in a historically sequential manner, a sampling of Spanish Colonial coinage, from Cobs to Pillars, from Reales to countermarked Spanish silver coins, all the way to modern times, with a complete collection of First Republic gold, silver and minor metals from 1915 to 1958.  The most impressive of them, is the President Menocal 1915/1916 complete gold set that includes the 1916 gold 20 Peso. Both sets are beautiful, although not in great condition, presentation cases, expressly made for the President. 

At the end of our walk through the exhibits, we went back to look up the lady that we had met at the information desk, I identified myself as a fellow numismatist and she made us feel very welcome and told us all about their club, the “Asociacion Numismatica Cubana”, their activities, interests and asked us to come back to see her the following day, that she would give us copies of the last few newsletters from the Club for me to take back.  Of course I went back the following day (with Dora of course), and she gave us a number of the Asociacion’s Quarterly newsletters going back to 2003, wished us the best of times in La Habana and wished for us to someday join them in one of their club meetings. 

I will try, as soon as possible, to scan the newsletters so they can be available to all members; and, if anyone wishes an advance copy I will try to oblige, please contact me and I will give it my best. (Guardafango@yahoo.com)

 

The lack of resources in the country is evident anywhere you go, but it is even more striking in a museum where you can feel the emptiness of the halls from lack of attention to frivolous things, like coin collecting, we were the only ones there on both days of our visit. On the other hand, the enthusiasm and knowledge of Numismatics exhibited by the persons in charge, showed me that the Heritage of Numismatics in Cuba is taken very seriously, and someday we will all benefit from the efforts of a few who are carrying this burden responsibly.

 

I am writing these notes while waiting to catch the flight back to Miami at Jose Marti International Airport, waiting to go home and at the same time wondering if I am already

there.

 

 

 

A Sea of Gold and Silver around Cuba

By Yixcian Rodriguez Cardoza.

Yixcian is a coin collector/numismatist living in Havana, Cuba with a special interest in the coins of the Spanish American colonial period and the ships which carried them. She has researched many of the coins held in the Numismatic Museum in Havana, and is fascinated by the huge number of treasure filled wrecks lying within a few miles of her home.

PERHAPS the greatest treasure hunters in the world were not the modern salvagers of today, but rather, the Spanish of the 16th, 17th and 18th centuries who sought and returned to Europe much of the wealth of the newly discovered Americas. In so doing, they changed the course of history in the places they visited, conquered and colonized. They ignited the economic development of Europe, and through misfortune and the fury of Mother Nature, they left behind a numismatic legacy strewn across the floor of the sea and the reefs of the Caribbean.

From 1502 to 1820, records show close to 15,000 voyages laden with treasures and other goods returning from the New World to Spain.  In total, more than 3.5 billion ounces of silver and 100 million ounces of gold were recorded as being mined and exported, although much more was mined and not recorded to avoid the “Royal Fifth”, a 20% tax imposed by Spain. At current market prices, the bullion value of gold and silver transported would be more than 150 billion USD, or about 100 billion Euros. At the time, the comparative value was much higher, when a sailor would earn one or two ounces of silver coins for a month’s work. The archaeological value and collector value today is almost unimaginable.

Travel from Spain to the Americas and back was a perilous journey, with a frightening rate of disaster at sea. In the early years of travel to, what was then referred to as, the “Indies”, more than a quarter of all the ships that left Spain never returned. From 1504 to 1522, 618 registered vessels departed, but only 450 retuned. As ship construction, navigation and defensive armament improved, losses at sea declined to only a little over 10%.  Conservative estimates suggest that more than 350 million ounces of silver and ten million ounces of gold in bars and early Spanish American coins remain below the surface of the sea.

Although the Spanish were disappointed not to find any significant gold and silver in Cuba, Havana quickly became one of the most important ports in the world.  Nearly every ship traveling to or from Europe or Africa had to pass near the island. The harbor at Havana was safe, deep and defensible. Good farmland nearby provided food, and fresh water was abundant. By 1519, the Spanish made Havana the official rendezvous and provisioning port before the long journey back to Europe with the huge treasures of precious metals and gems collected from Mexico, Peru, Columbia and Chile. The harbor was considered so important, that it was fortified by the construction of the El Morro Castle in 1589, and later two other fortresses on the opposite side of the entrance.

Even with the relatively safe harbor at Havana, sharp reefs, storms and primitive navigation claimed more than 700 ships in Cuban waters during the Spanish colonial period. In most years, a few ships were lost. In a few years, most of the treasure fleet was lost to violent storms or hurricanes.  Locations of many of these ships are known, and a few have been studied and salvaged by Carisub, a Cuban state agency operating from the 1970’s until about 2000. Most of Carisub’s recoveries were in Matanzas Bay. Except for a few small joint ventures with Canadian and Australian companies, Cuban shipwrecks have been protected from foreigners and any unauthorized local would-be salvagers, leaving an unparalleled collection of valuable time capsules awaiting discovery and exploration.

Below are a few of the ships explored and salvaged by Carisub:

N.S. de las Mercedes (Spanish Almiranta), lost in 1698 at Havana.  Silver coins, ingots and Chinese porcelain were recovered.

Fuxa (Spanish galleon), dating from 1610-1620, found near Pinar del Rio.  Gold ingots, emeralds, jewelry and over 7,000 silver coins were recovered.

Inés de Soto (unknown Spanish galleon, named for the reef it was found on), dating from 1556-1565, Pinar del Rio.  This ship may have been involved in the illicit salvage of the 1554 Padre Island Shipwrecks in Texas.  Artifacts recovered included gold and silver ingots, 23,000 silver coins, and two astrolabes.

Francisco Padre  (Spanish Galleon), dating from 1540-1560, found near Pinar del Rio.  Artifacts recovered include two astrolabes.

Galera  (spanish Galleon), dating from 1540-1560, found near Pinar del Rio. Artifacts recovered include quantities of gold and silver ingots.

San Cayetano (Spanish galleon), dating from 1650-1695, found near Pinar del Rio. Gold and silver coins have been recovered from this wreck.

Close to 200 historic wrecks are believed to rest in and around the Havana harbor, with at least 500 more scattered around the island’s reefs.  The quantities of silver and gold coins and bars on the bottom of the sea, often in very shallow water, are enticing for every collector and historian. Perhaps, sometime over the next few years, political changes and introduction of modern salvage equipment will provide museums and collectors with an unimaginable opportunity to see the riches of the early Spanish Colonies.

 

 

NGC and PGCS ANNOUNCE COUNTERFEIT HOLDERS. COMPANIES REPORT COUNTERFEIT COINS ON THE RISE. The following information is from their websites.

NGC has identified and confirmed that a counterfeit replica of its holder has been produced. At first appearance, the holder resembles the NGC holder and its respective brand marks. Upon inspection, variations in the holder, label and hologram make them easily discernible from authentic NGC-certified coins. This announcement includes diagnostic information to identify counterfeit holders. The holder has been seen housing counterfeit dollar or foreign crown size coins. While the enclosed coins are also counterfeit, the label information matches the coin type enclosed. The label information is copied from actual NGC certification labels, and the certification information therefore will match the NGC database. Most frequently Trade Dollars and Bust Dollars are found, although Flowing Hair Dollars and foreign coins have also been seen. A range of grades is also represented.

COUNTERFEIT NGC HOLDER ENCLOSING COUNTERFEIT COIN

Counterfeit Holder:

LABEL

1.      The counterfeit label text font is narrower than NGC’s font.

2.      Dashes or hyphens on the counterfeit label are straight and square. Dashes on the authentic NGC holder have angled ends. A dash always appears as part of the NGC certification number.

  FAKE LABEL

AUTHENIC NGC LABEL

HOLOGRAM: The counterfeit hologram has less rounded corners than the NGC hologram. It is also slightly reflective, while the authentic NGC hologram has a flat brushed finish.

1.      The hologram sits higher on the holder on the counterfeit than on the authentic holder. Note the gap from the central stabilizing line.

Hologram on Counterfeit Holder:

 

Hologram on Authentic Holder:

HOLOGRAM DETAIL: There are several misspellings on the PNG portion of the counterfeit hologram. This is the easiest way to identify a fake holder in hand.

KNOWLEDGE is incorrectly spelled with an R as RNOWLEDGE

INTEGRITY is incorrectly spelled with a G as INTEGRIGY

NUMISMATISTS is incorrectly spelled as NUNISMATISTS

TOP OF HOLDER

1.      There is a weld joint that appears as an off-center gap on the top of the counterfeit holder.

2.       The authentic NGC holder has a continuous seam, and weld flash (whitish discoloration) will often be visible. The weld flash allows NGC encapsulation technicians to assess the welding pressure and thoroughness of the holder seal.

The above identification guide should enable you to recognize and avoid coins in counterfeit holders. NGC is actively working with law enforcement in an ongoing investigation. A future announcement will include more detailed information. NGC is also in contact with eBay to have listings of counterfeit coins removed. Better consumer awareness, such as this announcement, is only one step. The next generation NGC holder to be released in 2008 has incorporated many new anti-counterfeiting features. Counterfeiting is a regrettable component of the collectibles hobby that affects not only certification companies but plagues world mints and currency printing bureaus. NGC will aggressively pursue all available legal remedy. Furthermore, NGC is wholly committed to investing in technologies and fraud prevention methods to continue to offer the safest and most reliable product in the rare coin marketplace. As always, NGC strongly recommends that you deal with knowledgeable and established dealers, such as PNG member dealers, when purchasing numismatic properties. In addition to NGC certification, this is your best protection against fraud and misrepresentation in the rare coin marketplace. For additional information, refer to the NGC website at www.ngccoin.com, then NEWS, then 01-07-2008.

PCGS  In recent days, counterfeit coins in counterfeit PCGS slabs have begun to appear on eBay, the online auction site. All of the counterfeit coins/holders seen so far are coming out of China. Alert members of the PCGS Message Boards were the first to notify PCGS of the counterfeit coins/holders. The coins themselves range from poor-quality counterfeits to well-made fakes. The counterfeit PCGS holders are well-executed, but with minor differences from a genuine holder. PCGS anticipates that authentic coins will eventually be placed into counterfeit PCGS holders in the future, perhaps with elevated grades and/or inappropriate designators (Full Bell Lines, Prooflike, etc.), although none have been seen to date.

The on-line PCGS Certificate Verification is a method for confirming that a particular certificate number matches the information in the PCGS database, but the counterfeiters are aware of this detection method and are now using valid certificate numbers (see below). PCGS has contacted U.S. governmental agencies, including the FBI, U.S. Customs, the Secret Service, and US Postal authorities, to enlist their assistance in pursuing enforcement or legal remedies against these counterfeiters. Also, PCGS is a member of eBay's CCW Group, which monitors eBay for fraudulent listings and asks eBay to discontinue auctions of suspicious coins and/or suspend violators. PCGS has called for eBay to stop accepting listings of any rare coins from Chinese sellers. Ebay recently pulled several auctions of counterfeit coins/holders at the urging of PCGS. PCGS urges consumers not to purchase rare coins from Chinese sellers on eBay. While legitimate, authentic coins exist in China, the plethora of fakes and fraudulent listings on eBay increase the likelihood that coins purchased from Chinese sellers will be counterfeit. The PCGS Guarantees of Grade and Authenticity do not apply to counterfeit holders, but PCGS has a strong interest in assisting consumers in actions against any fraudulent sellers.

Sufficient differences exist between genuine and counterfeit holders such that PCGS experts can easily identify fake holders. Consumers are cautioned that coins that appear to be underpriced may be counterfeit. PCGS urges all consumers to deal only with reputable sellers who are willing to stand behind the coins they sell. PCGS recommends consumers consider the following any time they make a coin purchase:

Verify the certificate number using the PCGS Cert Verification program at http://www.pcgs.com/cert/ See limitations above.

  1. Avoid purchasing rare coins from eBay sellers in China.
  2. Investigate the legitimacy of the seller (examine feedback; avoid low feedback sellers; find out how long the seller has been in business; do they have a good reputation?; do you have legal recourse in case of a problem?).
  3. Make sure you have a money-back guarantee that is enforceable (for example, credit card companies will often assist in cases of fraud).
  4. Realize that "bargains" in numismatics are usually too good to be true.
  5. If you have a question about a particular coin, be sure to have it checked out by an Authorized PCGS Dealer or by PCGS before the expiration of any guarantees.
  6. Request an immediate refund if the coin you purchased turns out to be a counterfeit.

The following list of coins and certificate numbers have been seen in fake PCGS holders: China (1916) Silver Dollar, Y-332, Cert #10712316 (valid)
China (1923) Silver Dollar, K-677, Cert #11354470 (valid)
China (1923) Silver Dollar, K-678, Cert #11285683 (valid)
China (1923) Silver Dollar, Y-336.1, Cert #13835186 (valid)
China Republic (1912) 20 Cents, Cert #21981173 (invalid)
China (1916) Gold Dollar, Pn-44, Cert # 11072163 (invalid)
China (1923) Gold Dollar, Tsao Kun, K-677, Cert #11354470 (invalid spec, valid cert…used above)
US 1858-O Half Dollar, Cert #03884338 (valid)
US 1800 Silver Dollar, Cert #03859118 (valid)
US 1795 Silver Dollar, Off-Center Bust, Cert #22030856 (valid)
Mexico 1761-MoMM 8 Reales, Cert #05763936 (valid)

"Valid" means that the correct information shows up under Cert Verification. To alert PCGS to any offerings of counterfeit PCGS holders, please notify Ron Guth at guthr@collectors.com. For more information, contact PCGS Customer Service at 800-447-8848.

 

What To Do If You Have Purchased A Coin In A Counterfeit Holder

While the NGC guarantee does not cover coins residing in tampered or counterfeit holders, NGC will aggressively assist victims of holder fraud. Counterfeiting the NGC registered trademarks is illegal, and both the original counterfeiter and any subsequent sellers of these holders are liable. In addition, it is a federal offense to counterfeit and/or knowingly sell counterfeit US and foreign coinage. If you have a counterfeit holder, we recommend that you first contact the seller, provide the information shown above and request a refund. Gather your purchase receipt and proof of payment, and send it to NGC along with a high resolution image of the coin in holder. NGC will use its best efforts to assist sellers in following the chain of custody to the original counterfeit in seeking refunds for affected sellers.

 

 

CNA NEWSLETTER ARTICLE INDEX

ISSUE/PAGE    DESCRIPTION

4-06/8                       1870 Essai        

4-07/14                     1870 Patterns

1-04/4                       1876 5 centavo

4-07/17                     1920 Proofs

3-06/7                       1869 1000 Peso Revolutionary Bond

2-07/14                     1869 Paper Money Issues of Cuba

4-07/4                       1869 5 Peso Error Note 

3-04/3                       ABC’s – The story behind the ABC’s

4-07/16                     ABC Design

1-04/3                       America’s involvement in Cuba

2-07/12                     Auction Results of Cuban Coins

3-08/18                     Auction Results of Cuban Coins

2-08/9                       Banco Espanol De La Isla De Cuba

3-05/6                       Barber – Chief Engraver

3-05/10                     Brand Collection Auction of 1964

3-05/12                     Buyer Beware

4-05/8                       Casino Chips

1-08/9                       Chronology of the Minting of the First Cuban Coinage

3-04/2                       Cobs, Pieces of Eight and Treasure Coins

3-05/2                       Commemorative Coins

2-06/11                     Commemorative CNA Coin

3-08/12                     Counterfeit Coins and Holders

2-04/4                       Cuban Coin Adventure

3-05/8                       Cuban Coins – A bit pricey

2-04/2                       Cuban Market

4-05/12                     Cuban Market

4-06/11                     Cuban Mint Tour

1-05/3                       Currency – Collecting Cuban Currency

1-04/5                       Cuban Numismatics – Overview

1-04/6                       EBAY – Buying and Selling

1-04/2                       Embargo, as it applies to modern collectibles

1-08/7                       First Bank Notes of the Cuban Republic

1-06/7                       First Circulating Currencies

1-05/7                       First Strike of Cuban Coins

 

                                  FROM THE KITCHEN

3-07/13                      Flan

4-06/10                      Flan Cake

4-07/20                      Mojito

4-06/10                      Paella  

3-08/18                      Rice Pudding

1-08/17                      Roast Pork

2-08/12                      Pork Leg (Stuffed)

1-07/11                      Sautéed Fish and Tropical Salsa with Avocado and Greens Salad

2-07/19                      Ropa Vieja (Old Rags) with black beans and rice.                                 

2-07/20                      Tres Leche Cake

3-08/                          Arroz Con Pollo (Yellow Rice and Chicken)

1-04/8                        Grading

3-04/9                        Grading 101

3-07/10                      Habana Real Hacienda Seal

2-05/6                        Keys of Cuba

3-04/10                      Luster

3-06/9                        Medals – Moro Castle (1762)

1-06/8                        Monetary Conversion after Spanish America War

2-04/4                        Our Man in Cuba

2-07/8                        Population Report of NGC and PCGS certified Cuban coins.

3-08/20                      Proof – Proof Like – First Strike

2-04/11                      Relief – High and Low

3-08/10                      Sea of Gold and Silver around Cuba

1-04/6                        Souvenir Peso – 1897

2-04/6                        Souvenir Peso – 1897, and 1898 Peso

2-05/5                        Trafalgar – A rich Naval history

4-07/8                        Tokens – Sugar Estates (Section 1)

1-08/9                        Tokens – Sugar Estates (Section 2) 

2-08/4                        Tokens – Sugar Estates (Section 3)

3-08/5                        Tokens – Sugar Estates (Section 4)

2-07/5                        Tokens – Military and Post Exchanges

3-06/5                        Tokens - Tobacco Plantations

3-07/5                        Tokens - Transportation

2-06/6                        Treasurer’s Report   

  

 

 

 

    FROM THE KITCHEN – RICE PUDDING

 

LIKE MOM USED TO MAKE

Recipe this Week: Rice Pudding

6 Servings

  • 4  cups of milk 

1.       1 stick of cinnamon

2.       1  small piece  lemon peel

3.       1  cup of sugar

4.       1 1/2  tsp vanilla

5.       1/4 tsp salt

6.        1/2  cup rice

7.       cinnamon powder

8.       1 1/2 cups of water

 

PREPARATION:

Cook the rice by bringing to boil   1 1/2 cups of water, cinnamon stick and lemon peel.  Add rice and cook over low heat until the grains are soft. 
Add the milk, salt, vanilla and sugar and cook over medium heat for 1 hour or until thick. Stir periodically to prevent sticking. Pour into serving cups. Refrigerate and sprinkle cinnamon powder on top before serving.

ENJOY!!

 

 

ADD WHIPPED CREAM AND A CHERRY IF YOU DARE!!!

 

 

 

                     

             

    RECENT AUCTION RESULTS OF CUBAN COINS

                  Heritage Long Beach, CA. Signature World Coin Auctions

                #3000; May 28, 2008  and 3001(live); June 2, 2008

                        # Includes Buyers Premium.

COIN                           GRADE           $ SOLD FOR #

Carlos III of Spain Medal 1763                                 5175

Republic 1870 Copper Pattern 10C  AU-Cleaned       805

1897 Souvenir Type 1         NGC MS64 Bronze     13800

1897 Souvenir Type 3         NGC MS64                      955.50

1898 Peso PROOF              NGC PF63                     8625

1915HR 20C PROOF                                                2185

1915HR/FR 20C                  NGC AU55                       59

1932 20C                             NGC AU50                      160

1920HR 40C                        NGC MS62                      299

1937 ABC Peso                    NGC AU50                     431.25

1938 ABC Peso                    NGC MS63                     431.25

1915 1 P Gold                      PCGS MS65                    632.50       

1915 1 P Gold                      NGC MS65                     747.50

1915 1 P Gold                      NGC MS67                   2990 

1915 1 P Gold                      PCGS MS67                  2185

1915 1 P Gold PROOF       ANACS PF63 (Pittman) 2530

1915 1 P Gold PROOF       NGC PF65                      5750

1916 1 P Gold PROOF       PCGS PF63                    4025        

1915 2 P Gold PROOF       NGC PF63                      4312.50              

1916 2 P Gold                      NGC MS64                      373.75

1916 4 P Gold                      ICG MS62                       345 

1916 4 P Gold                      PCGS MS62                    690                 

1916 10 P Gold                    NGC MS61                     488.75                                  

1915 20 P Gold                    EF-AU                           1265      

1915 20 P Gold                    AU-UNC                       1380

1915 20 P Gold                    PCGS MS61                  1840

1915 20 P Gold                    PCGS MS63                  5462.50    

 

1897 Type 1 Souvenir          NGC MS61 (Ebay)       1237.88    

.

Second Republic:

1989 10 P Gold Proof KM211                                     546.25

1979-89  52 Unc. Commemorative Pesos                    184

NOTE: Prior to this auction, Heritage had not auctioned Cuba Second Republic items.

 

                                                                                         

LETTERS TO THE EDITOR

# 1   B@HA sent the following email. 

It appears that the importation of Castro era coins is illegal under the embargo act.  Assuming Castro era coins are illegal to import, if such coins find themselves into the US is it illegal to sell or possess the Castro era coins? Can you point me to the provisions of the embargo act that deals with this topic?

RESPONSE FROM EDITOR:

Regarding Castro era Cuban coins:

The Embargo Act deals with the Importation and Exportation of these coins, as well as many other numismatic items manufactured in Cuba after 1961.

My reference to this section in the Act is buried in one of many boxes in my garage, as I am in the process of renovating my den. So, I am not in a position to reference the section of the Act. My interpretation is that the Act does not address the selling and buying of these items WITHIN the United States. My position is reinforced by the hundreds of advertisements of these coins in Coin World, World Coin News, Numismatic News, etc. Also, these coins are actively bought and sold in the Major Coins Shows across the nation.

Ebay has taken a contrary position, in that it has denied a listing or two, yet there are hundreds listed today. Heritage Auctions pulled one of these coins about two years ago, after some reaction by a collector, but included two lots in their recent auction in Long Beach, Ca.

The bottom line is that US Customs will probably advise you that it is illegal to buy and sell in the USA, but will probably not enforce this questionable interpretation.

I would suggest that you contact an attorney in this matter, since you are such a high profile entity.

 

 

ANSWER TO QUESTION ON PAGE #3.

Proof- Proof Like - First Strike ?

We have noticed lately the misuse of these terms, even by some important

National Auction Houses and Grading Services.

There can be differences in the grading of any coin due to the perception

of the individual eye, but there cannot be a difference in qualifying a

Proof coin. The term Proof has nothing to do with the condition of a coin.

Proof is a process of manufacturing; a procedure used in minting of a coin.

This term should never be used to describe a coin in a superb or superior Mint

State. The latter can be called Proof Like or First Strike.  Remember, PROOF

describes a processes, NOT a current condition of a coin.

As a whole, Proofs are ordered by the issuing entities and there should be

records of the quantities made. Special planchets/blanks are used, which are highly polished and treated for preservation to delay tarnish.

They are handled one by one and special care is used by the Mint personnel.

In numismatics the best rule to apply is.....COMMON SENSE!!!!!!!

 

CNA Website

Our webmaster, Stan Klein, needs the specific details of ANY problems that you might be having in these categories. PLEASE email your editor at Fxputrow@aol.com the specific problems you may be having at this time. I will condense and submit the problems to Stan for resolution.

In the meantime, here are some helpful hints that may improve any problems you may have.

1.      A problem is that some ISP providers, such as AOL, retain the Pages of Websites on your computer in the internet cache, to speed up transmission. If you are an AOL subscriber, “REFRESH” your explorer connection by hitting “F5” key while you are on the page that does not appear to be current. Make sure that you are using the latest version of AOL, which is 9.0

2.      Install Adobe Acrobat, including Adobe Reader 7.0. It is a free download, and available at http://www.adobe.com/products/acrobat/readstep2.html

 

NOTE: Stan has also made two enhancements on our CNA websites that are especially useful to Ebay users.

A. Access the CNA website at www.cubanumis.com, then AUCTIONS.

     There are three options to access Ebay by three categories (coins, paper, medals…).  

     Try it!

B. If you are a seller on Ebay, access AUCTIONS, and follow the instructions to place

     the special coded message in the body of your listing. An interested reader of your

     listing will have a simple access to the CNA website from your listing. For an

     example, check out Ebay item # 320062527010.  

 

Cuba to abolish two level currency: official
25 May 2008  MADRID - Cuba is to abolish its dual monetary system as the country pursues timid economic reform under new leader Raul Castro, a senior official said in an interview published Sunday. The communist Caribbean island state operates with the convertible peso, worth just under a US dollar, and the national peso, worth far less. Cubans are paid in national pesos but require convertible pesos to buy certain goods. ‘Cuba will reform its monetary system as quickly as possible,’  the head of the Cuban parliament's economic commission, Osvaldo Martinez, told the Spanish daily El Pais. ‘The government's policy is to eliminate the dual currency, which to some extent hurts the country's self-esteem, but we need a minimum quantity of monetary reserves for a normal exchange rate, prices and wages reform and greater economic efficiency,’ he said. Since succeeding his ailing brother Fidel, in February, Raul Castro has eased a number of the tight restrictions on Cuban life, including allowing citizens to own mobile phones, rent cars, stay in tourist hotels and buy modern electrical goods. Most Cubans, however, can still not afford to pay for such luxuries.   

 

 

 

WANT ADS

For Sale

1.   Cuban NGC and PCGS certified “pre revolution centavos and pesos. Contact      

      Frank Putrow at Fxputrow@aol.com or 727 5317337.  

2.   Cuban Pacification Medal, US Army, Service Bronze Medal “1906-1909”. Both  

       medal and ribbon are in excellent condition. The obverse has the Cuban shield 

       flanked by two soldiers at an “at ease” position. Asking $149.00, plus $3.50 for  

       shipping. Also have many other “condecoration” items for sale, including  

       Military decorations, medals of honor, etc. Contact Rudy Valentin at 

       Numisrev@msn.com.   070107

     3.    Cuban VF – AU centavos (1c to 40c) for sale. 75% of Krause list. Many to

            choose from. Guaranteed satisfaction. Contact Jesus Inguanzo at

            Guardafango@yahoo.com or 305 2237200.  070107

     4.    Cuba and World Coins. Order your free list at cidcorreo@msn.com or call 305  

             9756114 (weekends). J. Crespo CNA #54.

      5.   Cuban Collectibles N Things. http://stores.ebay.com/cubancollectiblesnthings

             Free S&H to all CNA members. Sarita   070107

 

Wanted

       1.  Modest collector desires Cuban coins with ships highlighted on obverse. Contact 

      Bob Freeman at rafre5@hotmail.com   070707  

       2.  Modern Cuban Exchange, Visitor and minted coinage.

            Exchange: centavos (1998-2006), 5c (2003-6), 10c (2000-7), 25c (2003-6),

                50c (1995 – 2006), Peso (1999-2006), 5 Peso Che 2000-6).

            Visitor: centavos (1989a&b, 1998a&b), 5c (1982a&b), 10c (1982a&b),

                25c (1982a&b, 1989a&b), Peso (1989).

            Minted for general circulation: centavos (1982, 1998-2006), 2c (1987-2006),

                  5c (1966, 2000-6), 20c (2000-6), Peso (Marti 2000-6),

              Peso (Patria Muerte 1990-2006), 3 Peso (Che 1993, 2001-6).

              Also interested in purchasing 1995 Dual Commemorative Issue Pesos:

              45 Anniversary of Central Banking in Cuba, and 100th Anniversary of the Death

              of Jose Marti.

              Contact Angel Giannotti at agiannotti@gmail.com.  070107

         3.  English version of CUBA, A COUNTRY AND ITS CURRENCY, in very good

              condition. Please contact G. Graham at BBQ_n_Blues@webtv.net.  070107

         4. 1937 ABC Peso and Gold 1915 4 Peso in VF-XF condition with no problems.   

       Contact Tom Galway at tpgalway@charter.net

.

   For Trade

   1. Trade your UNC. Cuban 1898  peso, 1877 Cuban Pattern, or rare early Cuban 

       silver coins for my Cuban doubles, including rare proofs to high grades. I will    

       also purchase. Contact Carl at Carlme@earthlink.net or 282 6279443.  070107

 

        Other

    1.  Selling and buying all Cuban coins, medals and tokens. George Manz Coins,

         www.georgemanzcoins.com or email George@georgemanzcoins.com in       

         Regina, Canada. Telephone 306 3522337.  070107

     2. Colin Bruce II, CNA member, is looking for reference information on Cuban   

         Military Medals, including Modern issues. Contact Colin at

         Colin.Bruce@fwpubs.com   070107

 

 

 

 

 

APPLICATIONS FOR CNA MEMBERSHIP ARE AVAILABLE AT www.cubanumis.com or by CONTACTING FRANK PUTROW AT Fxputrow@aol.com or 727-5317337.

 

IF YOU ARE CURRENT WITH YOUR CNA DUES, AND HAVE NOT RECEIVED YOUR NEW LAMINATED MEMBERSHIP CARD, AND/OR

YOUR “WOODIE” 5 CENTAVO NICKEL, PLEASE CONTACT FRANK PUTROW AT THE ABOVE INFORMATION.