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The Newfoundland 1896 Ten Cent Piece

Jerry Himelfarb

There is an interesting observation in the 1896 Newfoundland ten cent pieces in that many collectors call this a "sleeper" date- I would tend to agree. I have my reasons for this and they are twofold.

The first is, noting the ICCS population report over the last 7 years- not much has changed. In fact I content that these reports show people actively looking for this piece in reasonably high grade thus a few have entered the reports.

The mitigating effect however may be found on page 65 of "The Currency and Medals of Newfoundland" under "The coinage of 1896" (last paragraph on that page).

"Of the silver coin issued in the spring of 1896, the Government was compelled to redeem $30,000 under pressure from the banks. By the autumn of 1897 the redemption of a further $10,000-$15,000 had been authorized....The glut probably consisted mainly of the five and ten cent denominations."

If we look at the paragraph above on the same page we see;

Denomination: 10 cent
Number Of Pieces: 230,000
Amount: $23,000

Denomination: 5 cent
Number Of Pieces: 400,000
Amount: $20,000

If we assume redemption of $30,000 + $10,000 = $40,000 we have only $3,000 worth of 10 cent and 5 cent pieces dated 1896 left -best case !!

One might therefore assume there aren't that many to be had and thus can't place too much faith in the inflated mintage figures of, say, "230,000 & 400,000" for the 10 cent and 5 cent respectively.

In fact, if we take into consideration the total ICCS 2007 Population of circulated (109) + the mint-state appearance of (1) we might be forgiven for thinking we were looking at the Newfoundland 1873 10 cent profile of - circulated (106) + the mint-state appearance of (1) !!

Finally, that balance of $3,000 ($43,000 - $ 40,000) previously mentioned- If we were to divide that equally between the 1896 10 cent and 1896 5 cent at , say, $1500.00 each we would have mintages of 15,000 for the ten cent and 30,000 for the five cent after the 1897 redemption- not 230,000 and 400,000..

Certainly an issue worth considering...

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