2017-06-01 / News

Much to be learned at Saco Coin Show, June 4

By Grant McPherson
Staff Writer


Eddie Warner holds a ticket from the Saco Coin and Currency Club’s first coin show. Warner designed the note with the help of his sister, borrowing design elements from historical notes used in Maine, and included their own emblem. (Grant McPherson photo) Eddie Warner holds a ticket from the Saco Coin and Currency Club’s first coin show. Warner designed the note with the help of his sister, borrowing design elements from historical notes used in Maine, and included their own emblem. (Grant McPherson photo) SACO – The second annual Saco Coin Show will run from 9 a.m. to 3 p.m. Sunday, June 4 at the Ramada in Saco hosted by the Saco Coin and Currency Club.

This year’s show will feature 30 dealers and 22 tables from Maine, New Hampshire and Massachusetts. The Saco Coin and Currency Club meets the second and fourth Wednesday of every month at the Saco Train Station.

Eddie Warner, one of the founders of the club, said he will be too busy to deal at this year’s show, but may buy something depending on what is available.

Warner has collected coins since the mid-1970s in Caribou where he grew up. His interest in coin collecting was piqued by his father’s collection of Lincoln pennies. Warner was a member of the Caribou Coin Club, a group that flourished in large part due to Loring Air Force Base, which closed in 1994.

Warner’s time spent collecting U.S. coins has taught him about the history of the country as well. Many antique coins commemorate specific anniversaries like the quarters in use today represent states. Warner also collects medals, one of which features his own great grandfather six times removed, Seth Warner, honoring Vermont’s centennial in 1891.

Warner has a greater appreciation for economic systems as a whole, and sees trouble ahead for the U.S. government. Since the U.S. went off the gold standard in 1971, the government has printed paper money every day. Warner estimates the total U.S. debt is more than $100 trillion when social security is taken into consideration.

“Every country that’s done that has gone down the tubes,” Warner said.

Warner gave the latest example of Zimbabwe, which started printing more money than it could back up until a $2 note became worth $100 trillion. The U.S. is secure for now because if a country wants to buy oil it has to convert its currency to U.S. dollars, an arrangement that began with Saudi Arabia in the 1970s.

“Many countries are looking to say to ‘heck with us,’” Warner said. “Russia and China are starting now to deal between their own two currencies, even Canada is thinking about it. The world is becoming tired of us because our money is so indebted. It’s not worth it.”

Warner said he wouldn’t be surprised if the government reverted back to the gold and silver standard. Switzerland has the strongest currency in the world, Warner said, and its money has always been backed by gold. Warner said China has begun buying gold and silver mines, with the intention of basing their currency on the gold standard.

Warner said he’d like to see people buy books on coin collecting and attend the show to learn more.

“Anything that’s been made by our mint, by our private mint, you’ll see it there. Somebody who attends won’t believe how much was made.”

Contact Staff Writer Grant McPherson at news@inthecourier.com

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