Board Meeting 4:00 PM, September 20, 2009

Amway Hotel Collins Room, Grand Rapids

I. Call to Order Parks

President Parks called meeting to order at 4:40 PM. Meeting was delayed by the board touring the Grand Rapids Convention Facilities.

II. Roll Call LeBlanc

Present: Andrew Parks, Al Bobrofsky, Joe LeBlanc, Ann Bobrofsky, Don Chandler, John Chirco, Mike Dennany, Charles Fenwick, Steve Friedman, David Henderson, Karl Pall, Dany Rothfeld, Mike Strub, Julianna Wostyn. Also Ron Sirna, Legal Council

Absent: Dan Freeland, Robert Lusch

III. Introduction of visitors Parks

Lisa LeBlanc Mary Dennany Nancy Chandler Brian Malnar

IV. Invocation LeBlanc

LeBlanc led the board in prayer.

V. Minutes of April 24, 2009 LeBlanc

Al Bobrofsky moved, and Karl Pall seconded, a motion to approve these minutes as mailed. Passed.

VI. Additions to Agenda Board

XIV New business – sections m, n, and o were added

VII. Approve Agenda Board

Dennany moved, and Chandler seconded, a motion to approve, which passed.

VIII. Director Absences LeBlanc

Directors Fenwick and Strub have missed one meeting in the current term, and director Lusch has missed two. Lusch received doctor’s orders not to drive long distance after heart surgery, thus he is absent today also. He had wished to come, and expects to see us in November.

IX. Appointments (If any) Parks

No appointments at this time.

X. Membership Comments Parks

Friedman thanked all attendees for attending a meeting on the west side of the state. Dennany is impressed with the local Grand Rapids convention facilities (board members toured same during the 90 minutes prior to our board meeting) and wants to give this facility serious consideration.

XI. Officer Reports

A. President Parks

1. Presidential Award, creation of

President Parks asked to create a presidential award for the most outstanding Michigan Numismatist of the year. He projected the cost at $60. Pall felt more money should be devoted to such a prestigious award. Paper Money’s Wallace E. Lee award spends $100 – ribbon, medal, and plaque. Parks said just one would be given per year. Friedman said glass plaques are impressive. Parks needs input from all board members as to whom might be nominated. Sirna asked that we be sure to avoid nominations of any sitting board member or President / Vice President / Secretary Treasurer. Selection will be President’s discretion. Al Bobrofsky moved, and Dennany seconded, that the President should be able to give a Presidential award as often as annually to the most outstanding Michigan Numismatist of the year, at his sole discretion. The motion was approved. Sirna will send Parks ANA’s criteria as a draft input.

B. Vice President Bobrofsky

Parks and Al Bobrofsky have worked more on the convention manual.

C. Secretary-Treasurer LeBlanc

1. Review Current Financials

a. Regular

Checking Account (Aug. 31, 2009) $21,450 approximately

New Liberty Bank: Demand Savings earning 0.6% on $27,696 (regular operating funds)

b. Life

CD $25K 4.0% Matures Nov. 09

CD $15K 4% Matures Sept 09 – will be deposited in life savings on maturity.

CD $10K 4% Matures Aug 09

– has matured – money deposited into life savings account due to low CD returns.

CD $50K 4.1% Matures, March 2010

LeBlanc asks the board to consider an investment in one of two preferred stocks in Detroit Edison. DTEPRA and/or DTEPRC. They seemingly have a redemption value of $25 a share upon being called in by Detroit Edition. They are paying a yield of ~7.5% per year. There would be risk on principal fluctuations. The Bobrofsky’s suggested a credit union - Kellogg FCU - that pays 2.5%

Savings Account $2353

c. Cash Reserve

CD $10K 2.3% Matures Nov 09

d. Pruchnicki Inheritance

i. New Liberty Bank CD 2.8 % Matures Nov. 09 $3655.

e. Encumbered Funds

i. $5000 for the ANA Counterfeit Detection seminar, in April 2010

ii. $10,000 ($2500 paid already) for the ANA Schook School of Numismatics Donation

2. Membership Report

a. Member Totals Regular 732, YN 59, Clubs 25, HLM 17, LM 374 (Life #s down due to life audit, see below)

3. Property Report Summerell

No major changes. 5-6 silver 50th anniversary medals left. Just short of a roll of circulated 1956 halves. For Awards: One quarter, 1 tenth ounce golds; a couple of proof sets.

4. 2009 Spring Budget Report LeBlanc

Please consider this report closed, though not an official document. We had budgeted to loose $1700, but actually lost only $500-600. Al Bobrofsky moved, and Friedman seconded, a motion to approve this report, which motion was approved.

5. 2009 Budget LeBlanc

The MichMatist will be over budget on the 4th issue. MSNS will be in the red for calendar year 2009. Income from donations and interest on funds is down.

6. 2009 Fall Budget LeBlanc

For the Fall show, the bourse fees were split – early payers at $350, remainder $375. It is estimated 100 tables were sold before the August 1 deadline. We have sold about 125 tables thus far. Reminders are sent out continually to non-respondents. There will be a rush to meet the October 1 suggested deadline. There will usually be a few October and a few more November respondents. Malnar says we are short of where we should be by now. Since this is a main driver of our revenue, potentially it is a problem.

Friedman would like to investigate the reasons that past dealers haven’t returned. Malnar said the reasons include the passing away of older dealers, and dealers doing more, smaller, local shows. Others suggested the internet is reducing sales.

Friedman moved, and Pall seconded, a motion to approve the Fall budget. Motion Passed.

7. Correspondence LeBlanc

Brenda Bishop, an ANA employee with whom LeBlanc has communicated says that the ANA is developing a standard 5-6 city rotation that would not include Detroit. Their experience at the 1984 and 1994 shows included excessive Union fees, e.g. $25/circuit plugged in.

Joe Binno wrote to the club, sending best wishes regarding our MichMatist.



8. 2007 Sales Tax Refund LeBlanc

We are entitled to a refund of sales tax we paid to the Hyatt in 2007. The amount is north of $1000. The Hyatt is reluctant to modify their past paperwork to pay this amount to us, but LeBlanc is still working on it.

9. Corporation Report Filed LeBlanc

We have filed our annual report with the state to continue our corporation.

XII. Committee Reports

A. Exhibit Passic

Passic not being present. No report.

B. Auctions Summerell

In Summerell's absence, a short discussion on bringing an auction to MSNS.

C. Past Presidents Ann Bobrofsky

Last met at November Convention No report at this time.


D. Mich-Matist Rothfeld

Rothfeld says members like the Mich-Matist

E. Publicity Strub

Pall will work with Channel 2 (Detroit) to get some PR for the club. Pall will work with Murray Feldman’s money show – to get a segment maybe during the week close to our fall convention

Strub will send websites to LeBlanc at which he suggests that we advertise our shows.

The membership flyer developed by Kathy Freeland and worked on by several others will be printed soon.

F. Membership Chandler

Chandler wants us to print a bigger membership page in the MichMatist, to cover benefits more thoroughly. We discussed this, but decided NOT to do it, since the venue for this application mainly reaches only current members. It was decided instead to distribute flyers as below.

Several ideas were discussed, but no action was taken, because the committee was not of one mind on the implementation of the idea. They were: the making of the Early Bird privilege permanent for members; the idea of providing a VIP invitation to all members in advance of each show, like CSNS does; and to offer a reward of a prize drawing for tips on missing members at the MSNS table (Strub would donate 45-power microscopes as some prizes). Dr. Parks asked that this committee make a definitive proposal at the November meeting. He instructed them to coordinate with the dealer committee.

G. Convention / Manual Revision Al Bobrofsky

This manual was supposed to be mailed to all of us. Dr. Parks will see that it is edited with Al’s and Andy’s changes and mailed / emailed to the board members, both before and after changes.

H. Club Outreach/Communication Clubs Wostyn

Nothing to report at this time.

I. Education Pall

Kevin Foley will speak at the convention on Saturday Afternoon on Buying and Selling at Auction

There will be a Round Table with best paper people in Michigan on Michigan Paper Money.

- Clifford Mishler, Larry Falater, Bill Brandimore, Karl Mark Pall will be there.

Last show, kids loved digging in the dirt for buried treasure. Pall is again contributing 2 rolls of Indian cents.

The speaker’s bureau has not received any requests yet.

J. Finance Parks

LeBlanc has diligently sent Dr. Parks all required information. Reviewed with no issues.

K. Dealer Dennany No Report at this time.

L. Webmaster Report Marotta Paper report handed out in Marotta's absence.

***** Dinner Break 5:50 – 6:20 *****

XIII. Old Business

A. Schlag Memorial Update Al Bobrofsky

There will be a third edition of the special Felix Schlag nickel design fund raiser memorabilia restrike medals. One is a matte and one is a proof. We have $2900 and need $4500 for a new historical plaque, so 30 of them sold at $50 apiece will hopefully bring us to the total needed.

B. MSNS Attire Parks

Polo shirts would be $19-$22 plus embroidering cost. Blazers are as low as $59. Either could be royal blue, which is close but not exact as our current "MSNS blue"

Denanny moved and Chandler seconded that each board member may choose what they want (3 shirts or 1 blazer) and request it, paid for by the club. Motion passed with minimal opposition.

Friedman moved, and Pall seconded, that $1100 be budgeted to pay for shirts or jackets; this passed unanimously.

Dennany moved, and Rothfeld seconded, that board members be required to wear such shirts or jackets when at the show. Passed.

Rothfeld moved that only current board members can use the jackets and the embroidered logos. Plus, those that own their own jackets own them but do not own the emblem. No second. Tabled by Parks to consider how to put various caveats on it. You definitely should not wear them while doing business other than club business, or representing MSNS. Rothfeld agreed to withdraw his motion if a committee would look into it. Parks agreed that the executive committee would do so, so Rothfeld withdrew it.

C. Suburban Detroit Coin Show Wostyn

This October 29-31 show needs workers, and is in Ann Arbor. Wostyn can work the 31st but not the first two days (Thursday / Friday). LeBlanc has also volunteered a day. Get names to Wostyn no later than September 30th.

D. Purge of Life "Deceased" Members LeBlanc

A couple of life members were irritated by this effort. They were sent nice letter responses. One apologized.

The results: 12 were reported deceased. 11 were retired, and asked to be removed.

65 responded not at all to multiple requests. These have been removed and will be reinstated immediately if they contact us again and request it. This will result in a large savings to us on membership costs.

E. ANA Seminar Spring 2010 LeBlanc

1. Set Tuition

LeBlanc’s correspondence with ANA yields this: To move forward and get the information into the MichMatist, we need to set the tuition. ANA can do a one or a two day class. Their recommendations: One day should be $149 if ANA and MSNS member, and $50 more if not members. $294 for a two day class if MSNS and ANA member, and $50 more if not members. Timing being considered is prior to the Spring 2010 convention, Wednesday and Thursday or Thursday only. Instructors prefer 15 people in a class. If the class gets lots of interest, we may get a second instructor.

Sirna said that 2 day classes would halve the attendance versus 1 day classes. 9 board members expressed personal interest in a one-day class, and 4 expressed interest in a 2-day.

Wostyn moved that we accept the ANA recommended prices as stated above. Friedman seconded. Passed unanimously.

F. Graders free table LeBlanc

The prior board offered free tables to a few grading companies. Only one accepted for November. Sirna, advised against offering again

G. Patriot Act Education Chirco

Chirco states This issue isn’t going away. Dealers need to be aware.

H. Mini Show Update Wostyn

Wostyn reports Chuck Sharpe has moved his show to Ann Arbor – may be interested in doing something with us on this.

I. Dealer Packet Contents Wostyn

Wostyn working on these promo items.

J. Badges, Dealers Lanyard Wostyn

1. Photo ID’s Henderson

Bowers and Merena offered us free laniards with their logos.

Henderson has a company that does photo id'ss can come to the show and set up. Cost will be around $4 each.

Tabled until next meeting.

K. Co-Host Awards LeBlanc

1. Downriver Club Henderson

Fall of 2010 and forward is open. Al Bobrofsky moved, and Pall seconded, to grant a 50% of Fall 2010 to the Downriver Coin club, which motion passed.


L. CSNS Show in Michigan LeBlanc

MSNS will work on getting a CSNS convention to Michigan

M. ANA Show in Michigan LeBlanc

MSNS is working on getting an ANA to Michigan

XIV. New Business

A. Dealer Refund, Spring 09 Dennany

A dealer, Pete’s Numishoppe, had a heart attack April 17 wishes a refund for his table from April 09 convention. Dennany moved, and Friedman seconded a motion that we refund his $300, which motion passed.

B. H & R Block Referral Program LeBlanc/Marotta

H & R Block has a program for 501c3 entities – if a new customer comes to them referred by our coded flyer, we’d get $25 per new customer. We declined to accept.

C. Grant Application Sense of Board LeBlanc

LeBlanc asks the board if MSNS should pursue grants when available. Karl Mark Pall expressed interest in working on these. Board agreed that we should attempt when possible.

D. Set Spring 10 Bourse Fee LeBlanc

LeBlanc recommends a bourse fee of $325 to $350. Friedman moved, and Strub seconded, a motion that it be set at $300 if paid in full by Jan.15, $325 if paid later. Approved.

E. Krause Book Referrals Program LeBlanc

LeBlanc notes a web based book referral program. Pall moved and Friedman seconded a motion that we join Krause’s book referral program, which was approved.

(this helps Krause, helps us with referral fees, and helps us with our educational impact – we would automatically dedicate this revenue to educational purposes)

F. Book for New Members LeBlanc

LeBlanc requests this continue, and we allocate $1000 to purchase these books for new members only. Friedman moved, and Pall seconded, the same as a motion, which passed. Note that our costs are ~55% off retail. LeBlanc would try to get inexpensive books and focus on general education coin/currency books. Motion approved.

G. Book Purchase for Renewing Members LeBlanc

LeBlanc would need $3000 if we wish to continue to do this for renewing members. Rothfeld moved and Strub seconded a motion that members renewing for 5 years may get a free book. Failed.

H. VCR Library to DVD LeBlanc

Old VHS tapes are decaying. There is a ~$10 cost to copy one VHS over to DVD. Sirna indicates that only those that do not say they are copyrighted may be so copied. LeBlanc will look into. Dennany will talk to CSNS to see if we can get more DVDs.

I. VCR Loan to Members LeBlanc

Only clubs can currently borrow from our MSNS VHS library, not individual members. LeBlanc requested that general members and libraries also be allowed to borrow. We have 30 to loan at present. Strub so moved, and Pall seconded, but the motion failed.

J. Historical Society Knowledge Share LeBlanc

LeBlanc requested that MSNS send a representative, on request, to local historical societies and man a table to give people an idea of the identification and history of their coins. Pall so moved, Henderson seconded, and the motion passed.

K. 50th Anniversary Pins, Honorary Membership. LeBlanc

LeBlanc notes we have 25 year, 40 year pins, but no 50 year member pins. The company that made the former can make the latter for us – silver plate, gold plate, sterling silver, gold filled, or gold of various finenesses. LeBlanc requested that we buy ten 50 year gold plated pins at ~$27 each. Strub so moved, Al Bobrofsky seconded. Passed with dissent.

Al Bobrofsky and Pall moved that members Mr. Ken McClain and Mr. Louis Zetye be granted honorary life memberships. Both have been paying members for close to 50 years. Passed. Presentation will be given at the fall convention.

L. ICTA membership LeBlanc/Dennany

Rothfeld moved, and Dennany seconded, a motion that we pay $300 to make MSNS a member of ICTA.

Rothfeld and Sirna will provide more information on the value to the MSNS

Al Bobrofsky moved, and Pall seconded, a motion to table the above motion to the November meeting, which passed.

M. Donation/disposition of books – LeBlanc

We received a book in our inventory – Dr. Lee’s Paper Money Book. We have no facility to do anything with this book. The ANA library would love to have this book as they do not own a copy now. Pall moved, and Friedman seconded, a motion to give it to the ANA, which passed.

LeBlanc asks for a silent auction for two other books. The second and third book being, the Bowers book on obsolete paper money and a world paper money book. Rothfeld moved that a drawing be held to give this book to an attending member of the next convention. No second. Dennany moved, and Chirco seconded, a motion that there be a silent auction at the next convention to benefit MSNS. Passed unanimously.

N. Safety deposit box – LeBlanc

LeBlanc notes a recent break in at his office complex. He has a concern that MSNS sometimes has exhibit awards in his office. Chirco moved, and Pall seconded, a motion that LeBlanc spend up to $100 to rent a safety deposit box for MSNS valuables. Passed.

2010 dues – LeBlanc

Since the membership program for a free book on renew is not being continued into 2010, at this time LeBlanc does not request a dues increase. But, since dues have not been raised in many years, and with inflation, he may request an increase to take effect on and after January 1st, 2010 for renewals after that date.

Al Borofsky moved, and Pall seconded, a motion that any expenditures proposed (and not in budget) at a board meeting may not be voted on until the next Board meeting. With opposition from LeBlanc and Sirna, Friedman moved, and Chirco seconded, a motion to table this until November, which passed.

XV. Board Member Comments

No comments being heard.

XVI. General Membership Comments

No comments being heard.

XVII. Adjourn by motion which passed at 8:26pm