John McCain, paper money, and strippers

As the battle over a possible discontinuing of our American paper dollar in favor of the unpopular dollar coins rages on, Arizona Senator and paper dollar foe, John McCain, was asked a question about strippers. 

(Read here about the history of unpopular dollar coins),

According to the story, strippers prefer getting tipped with paper dollars and have complained about a possible demise of the paper dollar.  When a reporter questioned McCain, he quipped “I hope they could obtain larger denominations … fives, tens, one hundreds."

John McCain recently suggested that strippers be tipped in higher denomination bills

Since I generally spend my evenings on my studies rather than attending stripper clubs, I ask my readers to please forgive my naivete.  The first question I have is what were strippers given as tips in the 1970’s?  Were they receiving dollar bills or quarters?  Today’s dollar bill is the equivalent in spending power to the quarter in the 1970’s.  If strippers used to receive one dollar bills, today they should receive fives merely to keep up with inflation.  In this respect, McCain is absolutely correct.

Another question: What happens at stripper clubs in Canada, where the smallest paper denomination is the five?  Hopefully my Canadian friends can answer this so I don’t have to travel to Canada for a research trip on the topic

An interesting pricing issue with the Girl Scouts Commemorative Dollar

Tonight I stumbled upon something of interest while browsing the US mint website (usmint.gov).  The current price for an uncirculated Girl Scout Commemorative silver dollar is $55.95.  The mint, however, also sells the girl scout dollar as part of a Girl Scouts of the USA Young Collectors Set.  The set includes the uncirculated silver dollar along with the typical fluff of graphics and historical images.  The price of the set is $54.95 -- cheaper than purchasing the coin alone. 

1913 Liberty Head Nickel Sells for Bargain Basement Price

Did the light scratch on Liberty's neck cost nearly 2 million dollars in value?

The news is probably fish and chip paper by now, but a 1913 Liberty Head nickel was just auctioned for $3,172,500.  In a previous pre-auction blog post, I mentioned that even at five million dollars, the nickel would be a tremendous bargain.  Even a Huffington Post article called it a bargain -- so it's not just me.

Of the five 1913 Liberty head nickels produced, two are in museums, leaving only three for the rest of us.  The finest specimen sold for five million dollars in 2007, while the other (famous for appearing on Hawaii Five O in the 1970's) sold for $3,737,500 in 2010.  As can be seen in the picture, the current specimen has a scratch on the neck of Miss Liberty.  If the scratch was absent, would this also be a five million dollar coin?

The specimen has an intriguing history (and I don't want to sound like a broken record -- but stories add value to coins).  It was to be displayed at a coin show in 1962, but the owner was killed in a car crash en route.  Missing for over forty years, it will now go back into hiding with a private collector.

Read more about liberty head nickels here.