Return-Path: Received: from web5201.mail.yahoo.com ([216.115.106.95]) by niles.mail.mindspring.net (Mindspring Mail Service) with SMTP id t4pcah.9pj.37kbi1o for ; Fri, 29 Dec 2000 10:44:17 -0500 (EST) Message-ID: <20001229154415.14783.qmail@web5201.mail.yahoo.com> Received: from [205.188.200.48] by web5201.mail.yahoo.com; Fri, 29 Dec 2000 07:44:15 PST Date: Fri, 29 Dec 2000 07:44:15 -0800 (PST) From: MPCgram Subject: MPC Gram 210 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 210 Friday - 29 December 2000 My Early Years of Collecting and Cataloging MPC By Neil Shafer It was probably around the mid-1960s when my attention was drawn to the MPC series. By that time I had gathered a few scattered pieces and became aware of their special significance. In fact, so important did they become in my mind that for the Fourth Edition 1970 of my Guide Book of Modern United States Currency (Western Publishing Company, 1969), I prevailed on my boss to allow me to expand that book by including a full listing of all known MPC issues. In the introduction to that edition, I said the following: “Expansion of interest in a particular field sometimes means an increase in the importance of closely related material. Such is the case with the group of U.S. Military Payment Certificates which are now cataloged in their entirety in this volume. I have felt for a long time that their inclusion was an inevitable occurrence in the normal advancement of the whole field…” Looking back on it now, I know I was totally correct in this move. The section contains several pages of introductory text including general characteristics and specifications about MPC that I thought would serve to acquaint new collectors with this field. The actual catalog section follows, and it covers issues from 461 through then current 681 (along with 651). Of course, the values assigned to the various issues then in light of today’s heightened market and breadth of knowledge makes them look totally absurd. But believe me, at that time it was a new collecting area, there was no particular demand for any of them, and values were nominal. Remember, that was 30 years ago friends! Besides, I had some first-hand experiences with purchasing some of the earlier sets, in a group of items that came my way quite unexpectedly. The year must have been 1966 or 1967. I was working at Western Publishing Company (Whitman) and had been there since September of 1962. My interest in paper money of all kinds was continually growing, especially since we were involved with the possible purchase of Dr. Arnold Keller’s manuscript on a catalog of paper money of the world. I was the chief go-between for the company, and it was a constant learning process. I had also been doing some articles on paper money in our monthly magazine, the Whitman Numismatic Journal. Perhaps it was because of that kind of work, I am not sure. In any case, I was asked if I would help to evaluate a collection of world currency, probably for estate purposes- I am not totally sure about that right now. I was told I would have no chance of purchasing anything, as that was something out of the question. Please evaluate- that was all. The collection consisted of a run of various kinds of notes, some that I was familiar with, others that required some extra work. It was a portion of the “dregs” left over from the Jim Wade Collection, notes they felt could not be easily sold on the market at that time. As I recall, there was a full set of the 1941 Panama notes in Specimen and a substantial group of military and World War II notes of all kinds. Many were in sets, uncirculated or nearly so as I remember them. Among these were at least two full sets of MPC, Series 461 and 471! (There may have been others but I cannot now recall them). It was a thrill just seeing all this good material, and I eventually finished the job of evaluating. The total for the whole pile of notes I examined came to a whopping $600.00. That figure was turned in, and the whole matter was finished. Or so I thought. About six or eight months later, I get a totally unexpected letter from the individual handling the disposal of this collection asking if I was interested in purchasing the lot! Naturally I was overjoyed, but there was a big hitch to this offer. Along with the notes were some U.S. gold coins that had to be sold as well, to the tune of over $4000.00. I was in absolutely no position to buy anything near such a large amount, so I asked some friends in the business if they could assist. I finally got an affirmative answer, but by then the lot had also been offered elsewhere. After some discussion, I was reassured that I would probably have first refusal on the notes once the coins were gone. I don’t exactly recall when/how/if those coins ever went to Racine but here’s what happened to the paper. I had a phone call from another potential buyer; he and I discussed the possible ways of splitting the collection with each perhaps taking a certain amount. It turned out that all he really wanted was that Panama Specimen set, and if I would let that go without complaint he would put in $400 out of the $600 evaluation, meaning I could have all the rest for the grand sum of $200.00! Well, that was how it finally worked out, and the notes less the Panama set were shipped to me. I went through them quickly, and found that while they were basically the same as what I had seen previously, there was now a Ming note of China included with the group! How that ever came to be there and not the first time I saw the notes I’ll never know. I retained the major part of those notes for a long time, including the two sets of MPC. Finally I broke them up, and when I perceived that a very strong market had developed, I decided to sell the best piece of MPC I had. It was the $5.00 of the Series 471 in fully uncirculated condition (though close-margined at the top), and it went to one of the greatest collectors of his time, Amon G. Carter, Jr. of Ft. Worth, Texas. The price was a laughably small fraction of its present value! In closing, I need to mention one more aspect of the coverage I provided in the U.S. currency book that has recently taken on a much higher profile. While doing research at the Bureau of Engraving, I came across some facts about the number of printings for some of the MPC series. Records showed the multiple printings took place for only two issues as follows: Series 481, four; Series 521, three. All the rest were apparently made in a single printing. So the idea of multiple printings is nothing new. ==================================================== Editorial ---------------------------------------------------- Yesterday was a frustrating day on the book front. I spent way to much time revising a file only to realize that the file was an allready obsolete one thus nuiifying the substantial work that I had done. I would love to blame the computer, but the truth is that it was the fault of the operator. Remember, we need your forecasts for the Jan 1 Gram. ==================================================== Mail Call ---------------------------------------------------- Ski and readers, Consulting a perpetual calendar, 29 October was indeed a Monday in 1945. There is a Klamath County, Oregon, but there is also a town of Klamath on the northern California coast below Crescent City. Joe Dear Gram, Concerning advertising, I think anything should go until there is a "problem," then we can look at that "problem" and fix it. Right now, I think the MPCGram should expand as MPCGramers send in stuff. It is much like a clearinghouse and I like seeing everything there for now. Howard A. Daniel III ==================================================== Departments --------------------------------------------------- WWII numismatics seminar at ANA Summer Seminar 2001 --------------------------------------------------- Not only does the scholarship fund have an official identity but also has a bank account! Any further donations should be paid to the order of "Military Numismatists Scholarship" and sent to: Military Numismatists c/o Marcus Turner 8103 East US Highway 36 Suite 163 Avon, IN 46123 THE UPDATED LIST OF SCHOLARSHIP BENEFACTORS 11/22/00 Mike Cummings Ed B. Doug Bell R. A. Medina Harold MPCKid Kroll Bill McNese Marcus Turner Larry Ski Fred PK6 Joel Shafer World Wide Ventrues John & Nancy Wilson Neil Shafer ----------------------------------------------------- MPC Fest II ----------------------------------------------------- MPC Fest is the annual feast of MPC. After some difficulties of coordination we have not changed the dates and tentatively scheduled 9-11 March 2001 for MPC Fest II. If these dates cause a problem, please write the gram immediately. ==================================================== 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. 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. MPC Series 472 25c CU, $180, David Seelye, coinman@rochester.rr.com. Nice uncirculated MPC series 611 $1, $111. Confirm at fred@papermoneyworld.com. ============================================== Staff: publisher and editor: Fred Schwan - fred@papermoneyworld.com; assistant editor - Phil Goldstein critic: Harold Kroll - MPCKid@papermoneyworld.com; index manager: Ed Beaman webmaster & technical advisor: Doug Bell - (Wiz): doug@papermoneyworld.com; 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! 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