Post by evm111 on Aug 2, 2005 12:02:33 GMT -5
Hello Group- I thought we might all need a little something to hold us over (like a light snack!) until we receive the beautiful, soon-to-be-available coins of Chaim, Stephen, and Jorge.
These are 2 "alternative currency" listings, though the one for Silver Valley truly seems to be the one that is actually seeing circulation:
HISTORIC SILVER VALLEY: The first coin of theirs I encountered was a “Coeur d'Alene Mining District” 10 Sterlings, dated 2004. According to Mr. Tom Szabo (the seller on eBay from whom I purchased it), the 1 ounce silver piece “is an experiment in using silver as money”, which should also serve the purpose of adding more interest to it as a collectible. Sifting through the Internet for more information, I soon learned that it was issued by the Silver Valley Mining Association (founded in June of 2003), which is based in Wallace, Idaho (“The Silver Capital of the World”). According to its Web-site ("http://silverminers.org/valley.html"), the “triple-9-fine” coin has seen widespread use in the commerce of northern Idaho's Silver Valley, an extended mountain community located along Interstate 90, between Fourth-of-July Pass and Lookout Pass. It is now accepted by over 50 participating merchants (restaurants, coffee shops/cafés, drug stores, bars/saloons, inns, museums) in and around Shoshone County (Wallace, Kellogg, Kingston, Mullan, Osburn, Pinehurst).
Based on my subsequent communications with Shauna Hillman ("mailto:flytales@usamedia.tv"), who has been involved in the project since the beginning and is its official spokesperson, “The idea of the Silver Sterling Merchant Coin Program was to call attention to our Valley's rich silver-mining tradition, and to encourage both residents and visitors to begin using silver in everyday trade.” In October of 2002, “a small number of us were tossing around promotion ideas” for the business community of historic Wallace, which had previously printed a coupon for use as a promotional “fake currency” to keep money within its shopping district. The group settled on the idea of minting a coin, but were faced with the obstacle of coming up with “the tremendous amount of money it takes to mint a valuable silver coin.” By 2003, they'd found a promoter for their numismatic program and the name “Sterling” was chosen “in honor of our gracious ‘backer’”, the Sterling Mining Company. They then began to bill themselves “as a community which uses real silver in the marketplace.” The terms of this systematic plan specify that businesses “may purchase the coins wholesale for $7.50 and may redeem them for $7.50” at the S.V.M.A. office. “The coins have a retail value of $10, and trade for merchandise in that amount; or may be offered as change in lieu of a $10 United States Federal Reserve Note.” Mrs. Hillman, who is also the owner of Indelible Tidbits (which deals in archival photographs), sums it up by saying that “If you bring a 10-Sterling into my shop...and make a purchase of $8.00, I will give you U.S. currency for change. Not bad, ‘worthless’ paper for your silver.” Already, “About 75% of the merchants in the Silver Valley deal in these Sterlings in one way or another.” As a testament to their success, “We pick up about two participating merchants per week in the Sterling Coin Program.” More than 7,000 of the 10 Sterlings have been introduced into circulation, and consumers can spend them at local businesses which display a special blue sign in their windows. By putting spendable silver in the hands of the general public, it seems that the S.V.M.A. is successfully turning Shoshone County into the first community in the nation to once again use silver as a means of exchange. As keepsakes, “The coins have been a big hit with tourists, many of whom depart our community with an attractive silver souvenir in their pockets to show to family and friends back home. Some merchants have added value to the basic coins by using them in jewelry, or having them engraved as ‘calling cards’. In addition, we urge merchants to encourage the Sterling coins' use as a tip for good service, and as an appealing gift.” In '04 and '05, “Graduating seniors from Mullan, Wallace and Kellogg were each given Sterling coins”. This collectible medallion, which has served as the flagship coin of the Silver Valley, has also been widely used as prizes in raffles and contests.
From Mrs. Hillman, I purchased a 2004 1/3 oz. “Wallace, Idaho” 5 Sterlings (featuring an image of the Northern Pacific Railroad Depot located downtown, based on a photograph taken by Mrs. Hillman in December of 1984), a 2003 “Sterling Mining Co.” 10 Sterlings, and an absolutely ginormous (65mm! Probably as large and heavy as the famous stone money of Yap I once read about) 2005 5 oz. “The Bunker Hill Mine - Kellogg, Idaho” 100 Sterlings. Apart from these, the S.V.M.A. has also minted a 2004 2 oz. “Sterling Mining Co.” 20 Sterlings, and a smaller, 1/2 oz. version of the 10 Sterlings, dated 2005. All of their pieces were struck by Sunshine Minting, Inc. (in Coeur d'Alene, ID).
Though the notorious Bernard von NotHaus, whom they recognize as “a master at creating trading currency” (see my earlier listings for NORFED and Royal Hawaiian Mint), is not officially a part of their well-coordinated program, “his advice is always taken with pride and acceptance.” He's also offered to be a speaker at their silver investment conference, the “Silver Summit”, to be held in September of '05.
SHENANDOAH VALLEY: This is a silver One Shen dated 2005. It was created by Phil Matthew Cauley, the Managing Partner of Alternative Investment Strategies of Virginia, a limited liability company (founded in February of 2005) based in Staunton, VA. According to their Web-site (http://www.shencoins.com/the_shen.html), this piece (released on 4/11/05) is only the first of a series. “The silver SHEN commemorates the importance of Shenandoah Valley agriculture, provides a historical perspective, distinguishes real from fiat money, and establishes a local currency. The SHEN denomination comes from the name ‘Shenandoah,’ signifying its place as a local currency unique to the region.” One of the phrases which adorns this copyrighted coin, “Shenandoah Valley Free Money“, designates its main function as “a local currency independent and free of the Federal Reserve System.” Because of this, the Shen can “seek its own free market value” without interference or restriction. “The SHEN is real money, not fiat money like the dollar that has no hard asset backing its value. Ever since the United States confiscated gold coins in 1933, removed the silver from coins in 1965 and abandoned the gold standard in 1971 as a backing for paper currency, U.S. money has been backed only by the faith in and credit of the U.S. Government.” Since this collectible “has intrinsic value based upon its...silver content and cannot be recalled by the Federal Reserve to be replaced by paper currency, it is a natural store of wealth.”
These are 2 "alternative currency" listings, though the one for Silver Valley truly seems to be the one that is actually seeing circulation:
HISTORIC SILVER VALLEY: The first coin of theirs I encountered was a “Coeur d'Alene Mining District” 10 Sterlings, dated 2004. According to Mr. Tom Szabo (the seller on eBay from whom I purchased it), the 1 ounce silver piece “is an experiment in using silver as money”, which should also serve the purpose of adding more interest to it as a collectible. Sifting through the Internet for more information, I soon learned that it was issued by the Silver Valley Mining Association (founded in June of 2003), which is based in Wallace, Idaho (“The Silver Capital of the World”). According to its Web-site ("http://silverminers.org/valley.html"), the “triple-9-fine” coin has seen widespread use in the commerce of northern Idaho's Silver Valley, an extended mountain community located along Interstate 90, between Fourth-of-July Pass and Lookout Pass. It is now accepted by over 50 participating merchants (restaurants, coffee shops/cafés, drug stores, bars/saloons, inns, museums) in and around Shoshone County (Wallace, Kellogg, Kingston, Mullan, Osburn, Pinehurst).
Based on my subsequent communications with Shauna Hillman ("mailto:flytales@usamedia.tv"), who has been involved in the project since the beginning and is its official spokesperson, “The idea of the Silver Sterling Merchant Coin Program was to call attention to our Valley's rich silver-mining tradition, and to encourage both residents and visitors to begin using silver in everyday trade.” In October of 2002, “a small number of us were tossing around promotion ideas” for the business community of historic Wallace, which had previously printed a coupon for use as a promotional “fake currency” to keep money within its shopping district. The group settled on the idea of minting a coin, but were faced with the obstacle of coming up with “the tremendous amount of money it takes to mint a valuable silver coin.” By 2003, they'd found a promoter for their numismatic program and the name “Sterling” was chosen “in honor of our gracious ‘backer’”, the Sterling Mining Company. They then began to bill themselves “as a community which uses real silver in the marketplace.” The terms of this systematic plan specify that businesses “may purchase the coins wholesale for $7.50 and may redeem them for $7.50” at the S.V.M.A. office. “The coins have a retail value of $10, and trade for merchandise in that amount; or may be offered as change in lieu of a $10 United States Federal Reserve Note.” Mrs. Hillman, who is also the owner of Indelible Tidbits (which deals in archival photographs), sums it up by saying that “If you bring a 10-Sterling into my shop...and make a purchase of $8.00, I will give you U.S. currency for change. Not bad, ‘worthless’ paper for your silver.” Already, “About 75% of the merchants in the Silver Valley deal in these Sterlings in one way or another.” As a testament to their success, “We pick up about two participating merchants per week in the Sterling Coin Program.” More than 7,000 of the 10 Sterlings have been introduced into circulation, and consumers can spend them at local businesses which display a special blue sign in their windows. By putting spendable silver in the hands of the general public, it seems that the S.V.M.A. is successfully turning Shoshone County into the first community in the nation to once again use silver as a means of exchange. As keepsakes, “The coins have been a big hit with tourists, many of whom depart our community with an attractive silver souvenir in their pockets to show to family and friends back home. Some merchants have added value to the basic coins by using them in jewelry, or having them engraved as ‘calling cards’. In addition, we urge merchants to encourage the Sterling coins' use as a tip for good service, and as an appealing gift.” In '04 and '05, “Graduating seniors from Mullan, Wallace and Kellogg were each given Sterling coins”. This collectible medallion, which has served as the flagship coin of the Silver Valley, has also been widely used as prizes in raffles and contests.
From Mrs. Hillman, I purchased a 2004 1/3 oz. “Wallace, Idaho” 5 Sterlings (featuring an image of the Northern Pacific Railroad Depot located downtown, based on a photograph taken by Mrs. Hillman in December of 1984), a 2003 “Sterling Mining Co.” 10 Sterlings, and an absolutely ginormous (65mm! Probably as large and heavy as the famous stone money of Yap I once read about) 2005 5 oz. “The Bunker Hill Mine - Kellogg, Idaho” 100 Sterlings. Apart from these, the S.V.M.A. has also minted a 2004 2 oz. “Sterling Mining Co.” 20 Sterlings, and a smaller, 1/2 oz. version of the 10 Sterlings, dated 2005. All of their pieces were struck by Sunshine Minting, Inc. (in Coeur d'Alene, ID).
Though the notorious Bernard von NotHaus, whom they recognize as “a master at creating trading currency” (see my earlier listings for NORFED and Royal Hawaiian Mint), is not officially a part of their well-coordinated program, “his advice is always taken with pride and acceptance.” He's also offered to be a speaker at their silver investment conference, the “Silver Summit”, to be held in September of '05.
SHENANDOAH VALLEY: This is a silver One Shen dated 2005. It was created by Phil Matthew Cauley, the Managing Partner of Alternative Investment Strategies of Virginia, a limited liability company (founded in February of 2005) based in Staunton, VA. According to their Web-site (http://www.shencoins.com/the_shen.html), this piece (released on 4/11/05) is only the first of a series. “The silver SHEN commemorates the importance of Shenandoah Valley agriculture, provides a historical perspective, distinguishes real from fiat money, and establishes a local currency. The SHEN denomination comes from the name ‘Shenandoah,’ signifying its place as a local currency unique to the region.” One of the phrases which adorns this copyrighted coin, “Shenandoah Valley Free Money“, designates its main function as “a local currency independent and free of the Federal Reserve System.” Because of this, the Shen can “seek its own free market value” without interference or restriction. “The SHEN is real money, not fiat money like the dollar that has no hard asset backing its value. Ever since the United States confiscated gold coins in 1933, removed the silver from coins in 1965 and abandoned the gold standard in 1971 as a backing for paper currency, U.S. money has been backed only by the faith in and credit of the U.S. Government.” Since this collectible “has intrinsic value based upon its...silver content and cannot be recalled by the Federal Reserve to be replaced by paper currency, it is a natural store of wealth.”