From: "MPCgram" To: Subject: MPCGram 840 Date: Thursday, January 30, 2003 9:14 PM =========================================== MPC GRAM =========================================== Covering the entire World of Military Numismatics Series 004 - Number 840 Thurski January 30, 2003 Bond Changes By Larry “Ski” Smulczenski Earlier this week an envelope arrived from Howard Daniel with a couple of pages from the Sunday, January 19th Business section of the Washington Post. Marked for my information was an article by Post staff writer John Berry entitled "Savings Bonds Under Siege." This was a very informative article with some good news and some real bad news. As you know, Series EE bonds are the direct descendents of WWII defense and war bonds. Even more importantly, the current EE bonds are called patriot bonds and are the only major numismatic relic (so far) of the war on terror. According to the Berry article, savings bonds have become a pretty hot commodity for investors as a risk-free way of earning much more than the 1.2 per cent available on three- and six-month Treasury bills and significantly more than banks are paying on certificates of deposit. Investors have leapt on savings bonds for short-term investments as some bonds are yielding as much as 4.08 percent. Looks like a great way to improve your investment program a little, doesn't it? Well, the Treasury Department didn't feel that way pointing out that the bonds "are designed to be a long-term savings vehicle." Therefore they doubled the minimum holding period to one year. This still is not a bad short term investment. However this is only one of the challenges that the Treasury and the Bureau of Public Debt have. As you can imagine, there are a lot of people, especially young folks who own just two or three bonds and those are in usually small denominations. Altogether, bonds represent only about $190 billion (approximately 3%) of the $3.4 trillion worth of government debt owned by the public. Yet it takes 1,020 full time employees at the Bureau of Public Debt to administer the savings bond program. That's three-fourths of the Bureau's total work force. The budget for the current fiscal year, shows a total of $200 million to run the Bureau with $150 million earmarked for the savings bond program and $50 million to sell and redeem the other $3.2 trillion worth of debt which is auctioned electronically and most of which is purchased by larger financial firms for themselves and their clients. In the mid 1980's, the Treasury quit issuing all paper certificates as evidence of ownership of its’ marketable securities. These purchases are simply an electronic transaction through the Treasury Direct System. And that is the direction that the Treasury plans for the savings bond program. Very shortly, possibly already, the Treasury will begin selling savings bonds that will be all electronic. They will be purchased through a Bureau of the Public Debt web site and will be simply an electronic entry in a database. No paper bond will be issued. For the next two or three years, banks and other financial institutions that currently sell savings bonds will still have the paper certificates issued. But eventually that service will be phased out and all bond purchases will go through the Bureau of Public Debt electronically. What this means is that another fiscal collectable will become a thing of the past. Just like MPC, savings stamps, food coupons, nationals, fractionals etc., savings bonds will be a thing of the past as they mature and are redeemed. Only the collector will be left to preserve these historical documents for posterity. The recent I-bond program has only been around for a year or so and appears not to have much of a future. I'm sure that some of you have never even seen an I-bond or if you have, I'll bet you can't tell me who is pictured on the $500 bond. I'll save that part of the story until next week, but let me close with the question--Who the heck was Chief Joseph or Spark M. Matsunaga? You can go to this web location for the news release about the new one year time frame for EE bonds. http://www.publicdebt.treas.gov/com/comsb12.htm You can go to this site for information on the new means of purchasing Series I bonds: http://www.publicdebt.treas.gov/com/comi1102.htm =========================================== Editorial =========================================== I will postpone part two of the book pick-up story for another day because Ski’s great story has me fired up! First, I have to pick at him a little. He said that there was some good news in this (for collectors). I sure did not see much, if any, good news. I especially like the WWII defense and war bonds. I was pleased that we were able to have the first ever (at least that I know of) listings for these in WWII Remembered. Because that got me started, I have an interest in all government bonds. You heard about some of this when I tried to purchase a Series HH bond recently (more on that odyssey of mine next week). Because Larry got me interested, I too went to the government web site where I found confirmation for most or all of what he said. There may be a little discrepancy in how paper I bonds can still be purchased, but overall he got it right. In defense of the Bureau of the Public Debt, I have to say that the new system for Series I bonds seems to have some real merit. Individuals can purchase, manage, and sell their bonds on line without receiving any paper at all (expect probably a 1099!). I also have to say that even though the collector in me wants to see the paper items continued, I also like to see the government save money which this system no doubt will do. Of course, it (the system) will also discourage some purchases most notably among the Internet impaired. Possibly this is the good news that Ski was getting to, I presume that the bonds will be revised to show the new minimum holding period of one year. Varieties! I am reminded of one of my favorite discoveries published in WWII Remembered. The change in Canadian regulations during the war allowing purchases of war savings certificates to increase from $500 to $600 is reflected (buried) in the text on the backs of the certificates. Apparently, this same sort of change will be reflected here. Finally, I learned a few other interesting, if not amazing, things at the government site. First, the public debt held by the public is: $3,630,261,007,223.18. This is interesting. The rates for Series I bonds is 4.08%, and Series EE is 3.25%. Those are not bad for these times. The amazing thing is the new rate for Series HH is 1.5%. Who would swap Series EE bonds for these bonds? Fred =========================================== Mail Call =========================================== Dear Esteemed Editor, I filled out my 1040 form today, and that allows me to finally be able to say the following: "Please accept my reservation for MPC Fest IV" Russ Walsh Dear Editor, My February 2003 MPC Fixed price list goes in the mail tomorrow with several pages devoted to the MPCFEST. With 200+ on the mailing list, I am planning on recruiting a few more. Your personal copy should arrive on Monday. David =========================================== CALENDAR OF EVENTS =========================================== 2003 February 1 deadline for Fest auction material. Send material to: Philip M. Goldstein P.O. Box 641 Highmount, NY 12441-0641 or Larry Smulczenski Box 263 Shalimar, FL 32579 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$$, Marcus Turner$, Tom Warburton, Mark Watson$, Bill Yanchick, Nancy$ and John Wilson#, Bill McNease, Cuneyd Tolek#, Wendel Wolka#, Al Glaser$$, Ian Marshal, John Cheney?, Wes and Rod Hardy, Sam Feeback, George Fitzgerald, Kevin Neidy#, Bill Haines#, Ed Beaman$$, Marv Mericle, Cameron Bueschel#$, Tiffany Bueschel#, Russ Waslh. Registration fee: $148 double occupancy $198 single occupancy (including meals and motel). Payments may be sent to BNRPress, 132 E. Second St., Port Clinton, OH 43452 or via PayPal to fredschwan@yahoo.com. Suggested airports in order of desirability: Toledo, Cleveland, Detroit (attempts will be made to provide ground transportation to/from these airports (coordinate w/Sparky Watson mcwatson@yahoo.com) $$ = Paid. Running total: 38, #=new fester (running total 11 new Festers). Fest Auxiliary: Jane Talso, Judy Schwan, Mrs. Freyser. Coordinate arrival and departure with adjutant Sparky Watson: mcwatson@yahoo.com The Fest will be held at the same location as the past two years: Holiday Inn Express 50 NE Catawaba Road Port Clinton, OH 43452 Phone 419 732-7322 DO NOT MAKE RESERVATIONS AT THE HOTEL OR PAY ANYTHING DIRECTLY TO THE HOTEL!!! Fest IV Training Schedule (Draft) Friday 28 February 1200-1800 inprocess Watson 1800-1930 chow mess sergeant 1800-2230 exhibits (concurrent) Joe Boling 1930-2030 group therapy Gary Hicks 2030-2130 pay call paymaster May 2130-2200 March madness pairings Wendell Wolka 2200-2300 March madness first round Wendell Wolka 2300-2330 bull session 2330 exhibits must be removed Boling 2331 px, canteen closed Tom Koch 2400 lights out first sergeant Saturday 1 March 0400-0600 10k run, 3k swim (ice permitting) first sergeant 0600-0641 work detail laying out Series 641 0641 photo detail in messhall 0600-0800 chow first sergeant 0830-1000 show n tell Gail Baker 1000-1100 March Madness round II Wolka 1100-1230 snow n tell Gail Baker 1230-1245 company picture Hardy and Hardy 1245-1315 chow mess sergeant 1315-1630 bourse Seelye 1630-1745 show n tell Baker 1745-1800 nap individual 1800-1845 chow mess sergeant 1900-1930 March Maness finals Wolka 1930-1945 awards John Wilson 2000-2400 RVN poker game reenactment Schrier 2000-2100 auction lot viewing (concurrent) 2400 canteen closes, lights out 2401 bed check Sunday 2 March 0400-0600 10k run, 3k swim (ice permitting) first sergeant 0600-0700 chow mess sergeant 0700-0730 destruction of MFC 011 (from last year) Bill McNease 0730-0830 auction lot viewing Goldstein/Ski 0845-1030 auction 1100-1230 police call and early departures Watson 1230-1315 chow mess sergeant 1315-1500 field trip (TBA) Judy 1500-1800 pool party Jodi Foster Monday 3 March 0830-0900 breakfast Holiday Inn 0900- final departure Coordinating instructions: Show n tell contact Gail Baker (education@money.org) Arrival and departure coordination: Mark Watson MCW@qnet.com Auction items coordinate : Larry Smulczenski skifla@prodigy.net, Phil Goldstein IWANTMYMPC@aol.com Exhibits contact joeboling@aol.com March 12, deadline for Bank Note Reporter MPC issue. Submitt your ads and editorial material for this special issue. Contact Mary Roloff: roloffm@krause.com. 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 Memphis International Paper Money Show: 13-15 June, Cook Convention Center, 255 N. Main St., Memphis TN 38103-1623 Military Numismatics Summer Seminar Session I dates are Saturday, June 28, to Friday, July 4; session II, Saturday, July 5 to Friday, July 11, 2003 Link for more and general information: http://www.money.org/sumsem2003.html Link to photos from Seminar II http://www.money.org/summer2002images5.html application for military money scholarship http://www.papermoneyworld.net/news/MilitaryNumismatists Scholarship Fund 2003.pdf PCDA National and World Paper Money Convention. November 19-23, 2003. St. Louis Hilton Airport Hotel, 10330 Natural Bridge Road, St. Louis, MO 63134. ======================================== 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 Gail Baker Chris Connell Bill Haines Joel Shafer Mikhail (Misha) Istomin Gary Hicks Robert Drew Contact me at: "Marcus Turner" mailto: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 IMPORTANT SCHOLARSHIP INFORMATION The last information given in the gram did not include the official release of application/donation information. This information can be found at the link below. We encourage everyone to print copies of this information and distribute it to those who might be interested. Further you are encouraged to e-mail the pdf document to anyone you see fit. Thank you http://www.papermoneyworld.net/news/Military Numismatists Scholarship Fund 2003.pdf Marcus Turner Scholarships from the ANA: See the following location for an application for financial aid to the summer seminar: http://www.money.org/sumsemfin.html =========================================== MPC ANA Museum Project =========================================== ANA collection of MPC: Thanks to donations from Douglas Bell, Dick Fryser, Ed Beaman, David Seelye, Philip Goldstean, Michael Cummings, Ray Czahor, David Pitchford and Mr 691the ANA MPC collection is current as follows: Series 100 - [50 sen], [1Y, 5Y, 10Y, 20Y all A underprint] Series 461 - 5, [10] cents, [$1] Series 471 - [5, 10, 25, 50 cents, $10] Series 472 - [5, 10 cents], [$1, $10] Series 481 - 5 cents, [10, 25 cents], 50 cents, $1, [$5] $10 Series 521 - 5, 10, 25, 50 cents, [$10] Series 541 - 5, 10, 25 cents Series 591 - [5, 10, 25, 50 cents, $1] Series 611 - [5, 10, 25 cents, $1] Series 641 - 5, 10, 25, 50 cents, $1, $5, $10 Series 651 - [$1] Series 661 - [10, 25, 50c], [$5], [$1, $5] $10 Series 681 - 5, 10, 25, 50 cents, $1, [$5], [$20] 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 --Chris Connell ============================================ For Sale ============================================ For Sale: 50" X 29" Nazi flag with 6 other Nazi/German patches. Spice up your collection with these. Contact Frank Clark at frank_spmc@yahoo.com =========================================== RESEARCH =========================================== New modification to the database you can now retrieve your password if you have forgotten at the main logon screen. Keep in mind syntax is important. The mpc database has changed its name it now going to be refered as, WW II P a p e r M o n e y D a t a B a s e This is just a hint of things to come If you are having truble loging on please inform doug bell At doug@papermoneyworld.net 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 http://www.thempcman.net/, mailto: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. 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 Rendezvous with Destiny MFC Series 022 souvenir notes. Paying up to five times face value. Put your for sale notice in the Gram. =========================================== 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