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Spanish silver, especially those coins minted in Mexico City and at the Potosi Mint in Bolivia, were long the dominant coinage of the New World and of international trade. The first Dollar Coins of the United States were simply Mexico City 8 Reales Coins. We're all familiar with terms derived from the long usage of these coins, though we may not be aware of their parentage. "Pieces of Eight" is obvious enough as a reference to the 8 Reales coins Spain minted, but the fractionalized use of these coins was literal. 2 bits referred to 2 pie-shaped cuts from an 8 Reales Coin. Our very term "Real" (meaning "genuine" or "sincere") is derived from past reliance on the Spanish Real as the single-most trustworthy currency. You can see then how much of our REALITY, even today, is determined by our forebearers' preference for Spanish silver.
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The 1780 Maria Theresa Taler is often refered to as the worlds most famous silver coin. In its heyday it was the most widely accepted silver coin in the Middle East and North Africa, becoming an unofficial currency in many lands. The 1780 Taler was so established that it remained the most trusted money in North Africa into the 20th century. Thanks to the laws of the Austrian Republic and the decree of 1857, the 1780 Maria Theresa Taler has continued to be struck and remains an official coin of trade in the world to this day.
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Historical Trade Coinage Set
Five (5) Piece Trade Coinage Set in Cherrywood Presentation Case --- This unique set includes GENUINE trade pieces from the United States, Great Britain, the Netherlands, Germany and Spain. The coin from the Netherlands is a Gold Ducat (KM190.2) with .1106 ounces of actual gold weight (AGW). The United Sates Trade Dollar is an 1874S with Extra Fine Details. The indents you see on the coin are chopmarks which the coin picked up during its time in the Far East. Current Coin Values valuation for this coin is $200 in Extra Fine. Krause values the Great Britain Trade Dollar at $25 in Extra Fine, the 1776 Spanish 8 Reales piece should be worth about $100 and the German Thaler should be worth about $50 in today's market.
Price: $449.99
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State of Ohio - WWII - Liquor Ration Document & Purchase Record - Includes Sales Tax Stamps, 1943
Price: $19.99
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Greetings!
So many events have recently unfolded, driving the interests and fears of people, that it's become dizzying. Keeping track of the pleasant or mundane minutia of life is often compromised by the demands of events out of our control. My own view is that order and control are momentary and fleeting in this world. As a numismatist, collector and student of history I can't help but see the many periods and epochs where great uncertainties and struggles held the upper hand over pleasant order. These times of chaos and doubt are enshrined in the various issuances of coins, banknotes, tokens, ration cards, etc. that are the bread and butter of my business. In this week's newsletter I'm focusing upon fallbacks, quick fixes and tokens of self-reliance that mark the numismatic time-line. I'm also presenting the currencies that people have really kept stock in when shortages of cash or hyperinflation have prevailed. I hope you enjoy this brief tour of modern man's financial holding-actions against the historical weight of chaos. My best to you and yours and a hope for every breath of peace and happiness the winds of time may carry.  |
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Born amidst the devastating hyperinflation and collapse of the Weimar era German Mark, Notgeld represented a fallback back to the provincial and German States currencies long in circulation prior to the dominance of the Imperial coinage of the German Reich. German Notgeld represents not just a fallback amidst collapse, but also showed the the local and regional vitality and endurance in design and in the commercial world. The wide range of themes evident in this period gave way to the narrowing of topical issuances during the Third Reich. Though the provincial currencies were never again resurrected both the Bundesrepublik and the German Democratic Republic enlivened the the design world through the many commemorative coins minted during the difficult years of division. 
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While we have the spotlight on the Weimar years of currency uncertainties it should be of interest to consider the degrees of radical inflation in the modern world and the error that too readily is engaged in by financially debilitated governments in their lingering attempts to avert that final collapse of their currencies. The impermanence of the value of coinage amidst hyperinflation was met with increasingly frequent issuances of banknotes with denominations far exceeding previous issues. How many Zeroes can be added before the futility of the effort is admitted? That records for this feat are again and again broken suggests that the number may be as limitless as the temerity of the issuing authority; witness the 2,000,000 German Mark note, the 500,000,000,000 Yugoslavian Dinara note and the 100,000,000,000,000 Dollar note of Zimbabwe. 
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During World War II The United States issued special currency for the island of Hawaii and for troops in North Africa. Some were silver certificates and others were federal reserve notes printed in San Francisco. These "emergency" issues were a quick fix that sought to both allow payment of troops in the field and to avoid either investing in other state's currencies or opening the Dollar up to significantly increased likelihoods of counterfeiting by the enemy. The North Africa notes have a yellow seal and are silver certificates. The Hawaii notes possess a brown seal and the backs of the notes are over-stamped with HAWAII. 
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One of the things history should note is that when Japan launched it's offensives in the Pacific and in Asia during WWII the government had planned well in advance for the myriad of uncertainties an occupying power would face. One bit of forethought that Japan exercised was the pre-printing of occupation banknotes. Of course this foresight was matched by a ruthless determination to eliminate all other currencies in use for the sake of complete Japanese control of currency transactions. Often, the response of those resisting Japanese occupation was to flaunt these control, utilize guerrilla currencies and risk certain death if captured. The banknotes issued by any side in the conflicts in the region truly meant serious business.  |
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