numismatics world

2011-06-06T06:07:00.001-07:00

Book on numismatics released in Azerbaijan

2010-03-30T04:48:00.000-07:00

The book "Basics of numismatics" by the official of the Institute of Archaeology and ethnography under the National Academy of Science of Azerbaijan Ganira Pirguliyeva, according to a source in the Institute.

The new edition speaks of the first coining and first coins in the territory of the present day Azerbaijan (3rd century B.C.), appearance of money circulation and trade turnover before mid 19th century unless Azerbaijan fell under influence of the Russian empire.

The book is bilingual in Azerbaijani and in Russian. Such a book is for the first time issued in Azerbaijani.

This is the third book of the scientist. Earlier she had released two monographs based on newest materials: "Money turnover in Azerbaijan in late 14th-early 15th centuries" and "Copper coins of Azerbaijan".

Source: news.az

$200,000 Deal Buys VDB Cent

2010-03-30T04:41:00.000-07:00

Finishing a Lincoln cent set with top quality pieces got a little more expensive after a March 4 deal saw a 1909 VDB cent graded Proof-68 RB with star by Numismatic Guaranty Corp. and CAC sticker sell for over $200,000.

Though the exact price was not disclosed, Laura Sperber of Legend Numismatics wrote in her blog:

“Yes, the coin we had displayed and always said was not for sale got sold. While we are not releasing any specific price, we will confirm the coin set a world record above $200,000.”

That makes it the most valuable regular issue Lincoln cent, she added.

Representing the buyer at the deal done at the Whitman Baltimore coin show was Brian Wagner, who operates a rare coin firm that bears his name in Milton, Wash.

“The new owner of this coin is the ‘McCullagh Collection,’” Wagner said.

“I represented the buyer of the coin and Legend Numismatics represented the seller,” Wagner explained.

Sperber called this collection the most spectacular Lincoln proof set that exists. “Congrats to both Brian and customer. They were persistent and were a dream to deal with.”

Sperber also noted that her customer for whom she sold the coin deeply regrets selling it. But if he misses it too much, he can remember it generated a profit that works out to a return of over 30 percent a year, she said, “and that should ease the pain.”

Source: numismaster.com

US Mint unveils new quarters with national parks

2010-03-29T06:22:00.000-07:00

Get ready for another decade of quarter-mania. The U.S. Mint is hoping to repeat the phenomenal success it had with the 50-state quarter program with a new series of designs featuring the country's national parks and forests. The first five designs were unveiled in a ceremony Wednesday at the Newseum with the first coin scheduled to go into circulation next month. It will feature Hot Springs National Park in Arkansas. If the new program attracts the interest of the original state quarters program, which began in 1999, it will be a true blockbuster. That one got 147 million people — nearly half the country — to participate in collecting those coins, according to Mint surveys. "We think we are generating a lot of excitement with the new program," Mint Director Ed Moy said in an interview. The new program will have 56 quarters in all, one for each state and territory and the District of Columbia, with five new designs introduced each year. The program will end in 2021 with a quarter honoring the Tuskeegee Airmen National Historic Site in Alabama, which was created by Congress in 1998. "Today, we celebrate the breathtaking landscapes and natural heritage of America the Beautiful by commemorating our country's most treasured places on our currency," Interior Secretary Ken Salazar said at the unveiling ceremony. The sites, nominated by each state, are being placed on the coins in the order that Congress put them under the care of the federal government, starting with Hot Springs in 1832, more than eight decades before the National Park Service was created. This year's coins will honor the country's four oldest national parks — Hot Springs, Yellowstone, Yosemite and the Grand Canyon — as well as Mount Hood National Forest in Oregon. Congress authorized production of the new quarter series in 2008. The states' selections were reviewed by the Mint's artists and engravers to make sure that images featuring each of the sites could be depicted successfully on a coin. The final choices were approved by Treasury Secretary Timothy Geithner. The Yellowstone coin features the Old Faithful geyser with a bison in the foreground while Yosemite depicts El Capitan. Each coin has the name of the park and state being honored and the words "E Pluribus Unum" on one side along with the year the coin is being issued. Just as with the 50-state quarters program, the "heads" side of the coin will continue to feature a profile of George Washington. One challenge to collecting this time around could be the weak economy. The Mint produces to meet demand, with fewer coins needed in years when economic activity is slower. Moy said the 50-state quarter program started off slowly and then built up demand as more people learned about the coins and started collecting them. At the peak of that program, he said that as many as 650 million quarters for each design were being minted. But now, with the economy still struggling to emerge from a deep recession, the number of quarters scheduled for each of the initial issues of the new series is down to less than one-tenth of that amount. "The economy has stabilized but the recovery is lagging a bit so there are not as many quarters being demanded by banks right now," Moy said. "But we think that once people know about this program, they will start checking their change looking for the new coins."

Source: google.com

Coin and Collectible show reveals local history

2010-03-29T06:17:00.000-07:00

Coins, bills, and collectibles, all to buy, sell, and trade, but those aren't the only things being exchanged.

"It's a part of Idaho history, it's a piece of the past that very few people know anything about," says antique shop co-owner, Richard Jimenez.

Richard Jimenez is talking about not one, but 270 pieces of Idaho history. He collects local poker chips from the early 1900s. Most gambling was made illegal in Idaho in 1949.

"A lot of the poker chips that are out there, when they closed down the gambling they got discarded and thrown out so the only chips that are available are from people who used to own the businesses or the people that gambled that hung on to a few after it stopped," says Jimenez.

From chips to pennies, 22 dealers showed off their prized possessions and some turned a profit on hard to find coins!

"Even the 2010 pennies that have come in, I have yet to see them; I had to get them from one of the collectors here, the dealers, because I haven't even seen them yet, can't even get them at the bank," says president of the Coin and Collectible show, Ed Gyorfy.

Ed Gyorfy is amazed at how a brand new coin can become so hot!

"It's just history, and it changes constantly, and there is always something new coming out which makes the older stuff even more collectible and more interesting and there is just so many stories behind it," says Gyorfy.

Some of the chips seem impossible to find but it's events like this where Richard meets new people to help him add to his collection.

"A woman that I got a hold of in Twin Falls and she got these chips from those two clubs; she called last week and said she found some more chips that were a different color," says Jimenez.

For Richard, it's more than collecting poker chips it's the experience and the education that comes with it.

"When you sit down and talk with them, you get a lot of history and stories, and how it went on and the fact that a lot of people would spend their whole checks on it," explains Jimenez.

While this show may be ending, the quest certainly isn't over for Richard. He'll be packing his bags in a couple weeks and heading to Twin Falls for more "history rich," poker chips.

Source: kidk.com

Wartime pilots get gold

2010-03-23T23:21:00.000-07:00

The forgotten military pilots were finally remembered when a Congressional gold medal was given to the Women Airforce Service Pilots of World War II on March 10.

On hand to receive it were about 200 women who served. They are now mostly in their late 80s and early 90s.

Some came in wheelchairs and many sported dark blue uniforms. As a military band played “The Star-Spangled Banner,’’ one of the women who had been sitting in a wheelchair stood up and saluted through the entire song as a relative gently supported her back.

“Women Airforce Service Pilots, we are all your daughters; you taught us how to fly,’’ said House Speaker Nancy Pelosi, the first woman to serve as Speaker of the U.S. House of Representatives. She said the pilots went unrecognized for too long, even though their service blazed a trail for other women in the U.S. military.

In accepting the award, WASP pilot Deanie Parrish, 88, of Waco, Texas, said the women had volunteered without expectation of thanks. Their mission was to fly noncombat missions to free up male pilots to fly overseas.

“We did it because our country needed us,’’ Parrish said.

WASP Ty Hughes Killen, 85, of Lancaster, Calif., put it more simply: “We’re a bunch of tough old ladies,’’ she said in an interview.

Thirty-eight WASPS were killed in service in World War II. But they were long considered civilians, not members of the military.

They were only afforded veteran status in 1977 after a long fight. It’s estimated that about 300 of the more than 1,000 WASPs are still alive.

The gold medals were presented at a special ceremony in the U.S. Capitol Visitor Center in Washington, D.C A day earlier, the women participated in a wreath-laying ceremony at the U.S. Air Force Memorial.

Collectors could buy 3-inch and 1.5-inch bronze reproductions of the medal for $38 and $3.75, respectively, starting March 26, on the U.S. Mint Web site at www.usmint.gov/catalog.

Source: numismaticnews.net

Change needed as Argentina coin shortage grows

2010-03-16T22:18:00.000-07:00

Despite Argentine President Cristina Fernández de Kirchner’s promise more than a year ago to introduce electronic bus tickets in Buenos Aires, the vast majority of the capital’s bus lines still only accepts coins. This would not be such a big deal if not for the fact that Argentina has had a coin shortage for more than three years. The crisis has turned normally mundane tasks – like buying a newspaper or a snack – into a big hassle. There are various theories about the origin of the crisis. Some claim people are hoarding coins because inflation is making the metal worth more than the coins’ face value. Bus companies run side businesses selling change to companies for a fee, and a black market in coins has sprung up. Government advertisements urge people not to hoard. It may simply be a sign of exasperation, but people here seem to agree that the situation is getting worse. People like Estefania Franceschi, a journalist, is fed up with being offered candies instead of change. “Banks only give you up to 10 pesos in coins," explains Daniela Zeitune, a psychologist. "You can get change at the main train station, too, but if you’re working, you simply don’t have time to join the long queues.” Zeitune's husband, a doctor, has befriended the man who services the vending machines at his hospital, and so he often gets a fresh batch of coins. The situation is also leaving buskers and the homeless short-changed. Alita Casal, a postgraduate student, says, “People sometimes hesitate handing coins to street musicians and beggars because they are afraid to run out.” Some enterprising performers now offer change back to passersby. Though one Chinese-owned supermarket chain has come up with an innovative solution – giving out vouchers whenever they run out of coins – it is clear that Buenos Aires is in need of a lot more change.

Source: csmonitor.com

Market Indicators That Signal Gold and Silver Price Jumps

2010-03-16T21:48:00.000-07:00

For many years, there have been potential buyers of gold and silver who have sat on the sidelines, waiting for “the right time to buy.” In my experience, most of these people never do get around to actually jumping into the market. Those who eventually do will often wait so long that they end up buying only after the market has seen a major rise.

To help these fence-sitters, let me share some market indicators that I have observed for over 30 years as being reliable clues that prices will soon rise by significant percentages.

Several of these clues have to do with identifying whether the market is experiencing significant shortages of physical metals.

In the silver market, there are two indicators that need to be flashing warning signals at the same time. One is the price relative to melt value that wholesalers are paying to purchase US 90% silver coins. Refiners have to purchase these coins at least two percent below their melt value in order to profitably refine them to sell as pure silver. If the wholesalers are paying more than 98% of the melt value of the coins, this major potential supply of silver will not be melted down and refined, causing supplies to tighten. If the wholesalers are paying less than 98% of the melt value, that means refiners can profitably purchase the coins to melt and refine, causing physical silver supplies to increase.

The other silver indicator is the difference between the London market silver spot price and the New York COMEX silver spot price. For a bar to be deliverable on the London exchange, it has to be refined to a minimum of .9999 purity. Bars for COMEX delivery need only be .999 pure, which is not acceptable for delivery in London. The London Bullion Market Exchange is the world’s largest physical silver market. Very large orders for physical silver are almost all transacted in London.

The London market is where Warren Buffet’s Berkshire Hathaway bought its 129.7 million ounces of silver in the late 1990s. When Buffet demanded delivery instead of holding paper contracts, there simply were not enough silver inventories on the London exchange to fill the order. To obtain sufficient silver, those who sold to Buffet bought huge quantities of COMEX silver, sent it to the refiners to be refined to the higher purity, and shipped it to bonded warehouses in London. As the delivery deadline neared, Buffet let the sellers off the hook (at a ransom of about 50 cents per ounce {when silver was about $7 per ounce} for a six month delivery extension, I heard), the London silver spot rose to a premium of about 37 cents per ounce higher than on the New York COMEX.

According to the best information I have, in large quantities it would cost 8-10 cents per ounce to refine COMEX silver to the higher purity standard and get it air-shipped across the Atlantic Ocean to London.

Currently, wholesalers are paying about 99% of melt value for US 90% silver coin, which means that this source of physical silver is not available to refiners. However, the London silver spot price is only about three cents above the COMEX spot, which means there is no urgent shortage of physical silver in London. Conclusion—the price of silver is not set to explode in price immediately. When both of these indicators turn positive, though, watch out.

In the gold market, perhaps the most important indicators are the degree to which the price of gold can be suppressed and how quickly it recovers. In years past, it was possible for the US government, through its trading partners, to almost invisibly knock down the price of gold by 10-20%, where it would often take at least three months to recover. In such circumstances, it was obvious that the price of gold was not going to explode upward.

Compare that experience to the gold market since early December 2009. The price of gold dropped barely 5% at the most extreme from the early December all-time highs. Even this limited decline was only accomplished by ever more blatant manipulation tactics—think of the statement by the International Monetary Fund that it would sell almost 200 tons of gold “on the market” and the decision by the Federal Reserve to raise an overnight bank lending rate by 50% (from 0.5% to 0.75%) as two glaring examples.

Three consecutive days last week, the price of gold was almost instantly knocked down 1-2% (a pattern rarely observed in freely traded commodity markets) at the key times of manipulation: upon the open of the London market, or right after the London PM fix was set shortly after the New York commodity markets opened, and right after the COMEX closes. Yet, the price of gold quickly recovered almost all lost ground as new buyers jumped in to snap up gold at the bargain price. This pattern of a 1-2% drop in the gold price in the space of a few minutes is about as obvious a sign of manipulation as there is.

Conclusion—the extreme volatility of gold price swings in the past few weeks indicates a significant possibility that the price of gold will soon rise by 5-20% (or more).

There is one more indicator to watch that could signal imminent near term jumps in gold and silver prices. If the interest rate yield on 10-year US Treasury debt tops 4%, that would be a sign that investors are becoming extremely worried about near term inflation. In fact, that would indicate that investors are concerned enough about inflation to overcome the hundreds of billions of dollars that the US government’s has spent in recent months to hold down this key interest rate. The interest rate nearly reached 4% last December, but has been heavily manipulated every week since. If investor fears overcome the US government’s financial might, the prices of gold and silver will be off to the races.

There are many more indicators used by other analysts that I also examine, but these are some key basic ones that I have found to be of more significance than others. You are welcome to use them for your own profit.

Source: coinupdate.com

Klitschkos to 'flip coin' to fight Haye

2010-03-11T20:50:00.000-08:00

The Klitschko brothers, Vitali and Wladimir, will flip a coin to see who fights Briton David Haye in an attempt to unify the world heavyweight titles.

The Ukrainian Klitschkos hold three of the four recognized heavyweight titles, with WBA champion Haye, who fights John Ruiz on April 3, a constant thorn in their side.

Vitali, the older of the brothers at 38, has now admitted that Haye is firmly on the radar for both fighters, although as yet they do not know who will face him.

Speaking to reporters ahead of the Laureus World Sports Awards in Abu Dhabi, Vitali said: "I told my brother, 'I want to fight Haye', but he said no, he wants to fight him.

"For him it is personal, but for me I want the title. My brother already has two but I have to clear it with him. I really hope he listens to his older brother.

"Always you need motivation and the motivation is to have all the titles in the family. Everyone wants to see a unification. Champion against champion. Haye has the choice, one of the brothers Klitschko.

"I'll tell Haye it's easier to beat me, because I'm older and I don't have as much energy as my brother. I keep my fingers crossed that he beats Ruiz. Not because I like him, but I want his title and to shut his mouth.

"Maybe we decide by coins who fights him. Let's hope my brother listens to me. He must always respect old people.

Klitschko also confirmed that he will defend his WBC title against London-based Pole Albert Sosnowski on May 29 in Gelsenkirchen.
Sosnowski has stepped in to take the fight after former WBA champion Nikolai Valuev, who lost his title to Haye last year, turned down a reported $2.5m to fight Klitschko -- a decision that resulted in the Ukrainian called the giant Russian a "chicken".

Source: cnn.com

Time to Put Coins on Your Banking Radar

2010-02-26T00:50:00.000-08:00

There is movement online urging Americans to take their money out of big bad banks and put it into nice small(er) local banks. However you might feel about this particular movement, it is an understandable one in the aftermath of the near financial collapse of the country.

It would certainly behoove collectors to find institutions that are collector friendly and to do their business with such banks. The question is how do you go about finding them?

Some banks do go out of their way to keep up with the latest Lincoln cents or dollar coin issues. Some banks do not mind when collectors make inquiries about new coins. I receive e-mails and letters about this from time to time.

Unfortunately, not all banks are helpful. In fact, most banks are probably downright hostile to the idea of collectors getting new issues from them. My volume of e-mails on this topic seems to bear this out. Just look at the Buzz page for the latest poll results about whether banks are making enough of an effort to obtain the new 2010 cents with the Union shield.

I understand that getting coins is a banking activity that incurs a cost that must be covered by the banks in the normal course of business and most collectors probably don’t generate the fees from this type of service that a coin-using business would.

While this may be strictly true, and I certainly believe it is, I also believe that that isn’t necessarily the right way to do the accounting.

If all banking amounted to was providing coins to people, then banks certainly would need to recover their costs on every coin supplying transaction. However, as you know from your own experience of banking, processing coins is just a tiny piece of the larger picture.

Supplying new coins could be considered a service to depositors who have checking accounts, certificates of deposit, perhaps consumer loans, or gasp, even a mortgage. Coins are just a tiny part of a relationship.

Attempting to persuade bankers to see this is probably not worth the effort. Finding bankers out there who already believe this seems to me to be a more worthwhile task. They are out there.

But that means collectors themselves need to put bank coin services on their radar. Many collectors who asked for new cents from banks in 2009 had probably never asked their bank for coins before.

Dealers who handle rolls and bags of coins have long-standing relationships cultivated over many years. The average collector, if he ever had such a banking relationship, probably let it slip long ago.

I certainly did. I had such a relationship with a small Iowa bank when I had my paper route in the 1960s and was actively searching change to fill Whitman albums.

It probably was no accident that the institution was small and it was in a small town. When I moved to a larger city in Wisconsin, the financial institutions were much less friendly. I didn’t push the coin matter. Maybe now is time for collectors to push the coin matter and cultivate banking relationships that will satisfy them for years to come.

Source: numismaster.com

Counterfeit Euro Coins Declining

2010-02-24T00:30:00.000-08:00

While the merchants of Northern Ireland are concerned about counterfeit British £1 coins and their local police insisting there is no widespread problem, those European Union nations participating in the euro currency union can rest assured because the number of counterfeit euro coins decreased during 2009.

According to the European Commission, the number of counterfeit euro coins detected during calendar year 2009 was 172,100 pieces, down from 195,900 coins detected during 2008. This is a decreased of 12 percent. Great Britain is an EU member nation, however has not chosen to participate in the currency union.

As with any statistics, you have to be careful how you interpret them. The number of counterfeit 2 euro coins decreased by almost 18 percent, however during 2009 the number of bogus 50-cent euro coins increased by nine percent while the number of counterfeit 1 euro coins increased by eight percent. Consider that the 2-euro coin, worth more than $2 US, is still the most widely counterfeited EU coin. The 2 euro is also the highest denomination coin in circulation in the EU.

The EC tried to put these statistics into perspective, releasing a statement reading: “Indeed, the overall number [of counterfeit euro coins] is very small by comparison with the total number of around 15 billion genuine euro coins put into circulation of the three highest denominations, with a resulting ratio of one counterfeit to every 89,000 genuine coins.”

The number of detected counterfeit euro coins in 2009 is also lower than the total number of counterfeit coins detected within all of the nations combined who now participate in the currency union, this statistic being from the final year prior to each country having entered the currency union. There are now officially 16 nations using the common currency.

Despite this success, the EC is being cautious about congratulating itself. In a recently released statement appearing in the Jan. 11 The Sofia Echo newspaper in Bulgaria the commission said, “Although encouraging, there is no room for complacency and efforts to remove counterfeits from circulation should be maintained and intensified.”

The commission has also acknowledged that during 2009 the number of counterfeit euro coins seized outside of the EU increased. The EC, Croatia, Montenegro, and Turkey have established agreements of cooperation regarding counterfeit coins. During the past year police seized about 11,000 bogus euro coins prior to these phony coins being able to reach circulation. This is a similar number to that seized during 2008. No private mints counterfeiting euro coins were reported to have been shut down during 2009.

According to The Sofia Echo article, “Despite these successes, most of the criminal groups responsible for euro coin counterfeiting have not been dismantled yet.”

The EU still has to concern itself with counterfeit bank notes as well. On Jan. 11 the European Central Bank announced about 860,000 counterfeit euro bank notes were withdrawn from circulation during 2009. Of these, 447,000 notes, were withdrawn during the second half of the year, an increase of about 8 percent from the first half of the year. To put these numbers into perspective, there was an average of 12.8 billion genuine euro bank notes in circulation on average at any time during 2009.

Source: numismaster.com

The Coin Grading System

2010-02-22T00:45:00.000-08:00

Coin grading is a term used to refer to the process of determining the condition or quality of a coin, and its full identity. It is essential to know what the grade is of a particular coin, because, as a general matter, the higher the grade of a coin, the higher its numismatic value.
Coins are graded on a 0-70 point scale devised by Dr William Shelby. The details can be found in the Official A.N.A. Grading Standards for United States Coins published by the American Numismatic Association (ANA). Under this method of grading, the higher the point scale accorded a particular coin, the better its quality.
The process of grading a coin is partly subjective and partly an art, rather than a true science. Accurate grading requires many years of skill and experience. However, determining an approximate grade is possible for even the novice coin collector.
The basic point scales that define coin grades, are as follows:
1. Mint State Perfect Uncirculated (MS-70)
Mint state uncirculated coin in perfect condition, showing no traces of wear, and no blemishes, scratches, handling or contact with other coins. The best quality coin possible.
2. Choice (Gem) Uncirculated (MS-65-69)
An above average uncirculated coin which retains all of the original mint brilliance or luster, and has a very few contact marks on the surface or rim, which are barely noticeable.
3. Brilliant Uncirculated or BU (MS-60-64)
An uncirculated coin having no traces of wear but which has a few contact marks, surface spotting or lacks some of its original luster.
4. Choice About Uncirculated (AU-55 & 58)
A coin having very light wear on only the highest points of the design but no other defects and with most of its luster remaining.
5. About Uncirculated (AU-50)
Coin has evidence of light wear on many of the high points but at least half of the mint luster is still present.
6. Extremely Fine (EF-40)
The coin design is lightly worn in most places but all the features remain sharp and well defined.
7. Choice Very Fine (VF-30)
Light even wear on the surface and highest parts of the design but most major features and the lettering are sharp.
8. Very Fine (VF-20)
Minor features such as some of the finer hair detail, feathers, etc. will be moderately worn. Shows moderate wear on high points of design. All major details are clear.
9. Fine (F-12)
Moderate to considerable even wear over most features and the lettering. A lot of the details are worn through but you can still see a good deal of the design.
10. Very Good (VG-8)
The entire design is weak, but a few details are visible. Well worn throughout but coin rims still visible.
11. Good (G-4)
Heavily worn but design and legend still visible although quite weak in spots. Many details are gone.
12. About Good (AG-3)
Very heavily worn with portions of lettering, date and legends worn smooth and barely discernable.
Have fun collecting your Perfect Coins!

Source: numisnews.tv

Royal Mint's £16.5m investment at Llantrisant

2010-02-19T19:48:00.000-08:00

The Royal Mint is to invest £16.5m in new productions lines at its site in Llantrisant, Rhondda Cynon Taf.

It said it was the most significant investment in the plant for more than 40 years and would help it compete for new work both home and abroad.

As well as making coins for the UK it also manufactures coins for other countries, collectors' coins, and military medals.

It said the investment would double its nickel plating production capacity.

It will see the construction of two new production lines and an effluent plant.

The first phase is due to be complete by September and is part of a five-year growth plan.

Chief executive Andrew Stafford said: "The fact that we're able to take advantage of these investment opportunities is testament to the excellent work of the team at the Royal Mint.

"It highlights how we are continuing to build for the future, compete internationally as a UK manufacturer and bring our vision of 'Making Money for Everyone' to life."

Source: bbc.co.uk

Lahaina Restoration Foundation to hold Chinese New Year events

2010-02-18T23:53:00.000-08:00

Studying the early currency system of China for over 30 years, Dennis Ryan is literally a wealth of knowledge.

Ryan, a retired teacher and part-time director of research for the Albany Legislature, is currently on Maui. He has visited the island every year since 1997.

Over time, he has generously donated a collection of Chinese coins to Lahaina Restoration Foundation (LRF).

In conjunction with Chinese New Year, Ryan will present the lecture “China’s First Coins” at the Wo Hing Museum, 858 Front St., on Friday, Feb. 19, at 6 p.m.

The community is invited to attend, and this fascinating lecture is free.

Ryan’s personal coin collection was built by purchasing items from auctions and collectors in places like Hong Kong and Singapore.

“My earliest piece hails from the Shang Dynasty 2200 B.C. The piece is a simple cowry shell,” said Ryan.

Ryan will share his knowledge and collection at the presentation.

And on Saturday, Feb. 20, LRF will usher in the Year of the Tiger with a lion dance by the martial arts team from Au’s Shaolin Arts Society from Oahu.

LRF will host a small celebration, including information on acupuncture from Maui Acupuncture, Qigong demonstrations by Corey Williams, calligraphy and more, at the Wo Hing Museum. Festivities begin at 10 a.m. and continue to 4 p.m.

Freshly made spring rolls and noodles will be on sale while supplies last.

Source: lahainanews.com

COTY in Berlin

2010-02-17T01:09:00.000-08:00

United States Mint Director Ed Moy took a bow for the Mint and its American Eagle silver bullion coin Jan. 30 as he accepted the Most Popular Coin Award at the Coin of the Year Awards ceremony at the World Money Fair in Berlin, Germany.

Moy told the audience that the A.A. Weinman design on the silver Eagle has been popular for almost 100 years since it was first used on the half dollar in 1916.

The specific date of issue being honored was 2008, but it is hard not to mention the record level of sales recorded in 2009, and Moy did so.

Though not bullion coins, the top two award winners were also made of precious metals. The Coin of the Year, a gold 20 lati piece of Latvia, also bears a design from the same era as Weinman’s. In this case it was a 1922 work by Teodors Zalkalns that was not issued at the time it was created.

The obverse of the Latvian coin features a woman in a scarf representing motherhood and the reverse shows the staples of life, bread, milk in a jug and an apple that signify fertility and plenitude.

Accepting the Coin of the Year Award was Maruta Brukle, the head of the coin division of the Bank of Latvia and her boss, Janis Blums, who heads the bank’s cash department.

A silver 5,000 forint of Hungary was given the People’s Choice Award, which was selected by the public via online voting. It is a commemorative of the Tokaj wine region.

Accepting the award was a trio of officials – Ferenc Gaal, director of the Hungarian Mint; Terez Horvath, its commercial director; and Erica Lescko of the National Bank of Hungary.

This is the third time Hungary has won, making a clean sweep since the award was added to the Coin of the Year family of honors, which is raising some eyebrows among some hobbyists in Germany. Perhaps a tweaking of the award rules is in order, they suggest.

Presenting the awards was Dave Harper, editor of Numismatic News and executive editor of World Coin News, which sponsors the awards that have been given each year since 1984.

There is a time lag built into the selection process, so the awards were given for coins minted in 2008.

The World Money Fair has been chosen as the COTY awards venue because it hosts the largest gathering of mint and national bank officials in a numismatic context. This year some 50 institutions took booths in Berlin.

The show is also a very large coin show.

Hans-Henning Goehrum, president of the Money Fair, said attendance at the 2010 event ran about the same as in 2009.

Observers on the floor were guessing beforehand that the show was even better attended than last year.

Source: numismaster.com

Numismatics are for Collectors, Not Investors

2010-02-16T01:37:00.000-08:00

As a precious metals investor, you may heard much about numismatic and "semi-numismatic" coins, particularly the St. Gaudens $20 double eagle gold coin. While coin collecting can be an interesting hobby, it is not necessarily related to metals investing. Coins of this type vary in value with the ebb and flow of the collector market and are not strictly tied to metal value. Also, these coins often go for much more over spot price than bullion coins.

One of the concepts that gets bandied about quite a bit is the idea of U.S. government confiscation. While it is true that the U.S. government did have a gold recall in 1933 by executive order of FDR, gold coins of a significant value over gold value were not subject to this recall. Many dealers use this to imply that in the event of another confiscation these older coins would fall in this category in order to sell these types of coins to the unsuspecting or newer metals investor. However, the confiscation issue is a red herring for several reasons:

* The dollar was backed by gold in 1933 and the recall was designed at least in part to stop the run on banks; the dollar no longer has any metal backing.
* St. Gaudens $20 coins in almost uncirculated to mint state conditions are still very common even considering their age due to decades of mass storage in European bank vaults.
* There is nothing that states that numismatic items could not be confiscated in the event of another recall; the original executive order no longer has any force of law.
* Gold is no longer used in regular-issue U.S. coinage (the American Eagle gold coin, although it has a face value, does not count) and is typically used only in jewelry and privately-held investment vehicles such as bars and bullion coins which would be harder to recall and account for. The majority of recalled gold coinage in 1933 was housed in bank vaults.
* As gold is no longer used as a monetary instrument by the U.S. government, confiscation is unlikely in any event.

Now, you may be wondering about silver in regards to this as well. Silver held sway as coinage for longer than gold, and some silver coins can still be found in circulation. However, silver has never been subject to confiscation, and its status as an important industrial metal gives good reason to believe that there will never be a silver recall.

90% and 40% silver U.S. coinage is still widely available, and although it sounds contrary to what I stated above, these coins are a good value - as long as they can be bought at near silver spot or less. This is an important distinction to make, as old silver coinage (often referred to as junk silver) often carries very little to no value as a collector item over the metal value. These coins, if anything, are semi-numismatic, but don't bank on collector value.

In short, if you approach this from the perspective of a metals investor never look at a coin for collector value. Collector markets are often hard to get a pulse on, and numismatics are much more illiquid than their bullion counterparts. If you're paying more than spot plus a modest premium, you're paying too much.

Source: bestcoin.com

Dubai may mint the Middle East's first legal tender gold coin

2010-02-12T01:19:00.000-08:00

UAE. Dubai Multi Commodities Centre (DMCC) has proposed to the UAE Central Bank, the launch of a legal tender gold coin which if approved, will be the first of its kind in the Middle East.

Existing legal tender gold coins such as the Australian Nugget and the South African Krugerrand are popular among buyers as a vehicle to invest in pure gold.

The proposed design depicts the image of the President, His Highness Sheikh Khalifa Bin Zayed Al Nahyan, on one side of the coin and that of the Burj Khalifa, the world's tallest tower in Dubai, on the other.

The recently inaugurated tower was dedicated to the visionary leadership of Sheikh Khalifa by HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on the anniversary of his accession on January 4, 2010.

The 828-metre Burj Khalifa is a symbol of international co-operation, an unparalleled fete of engineering and a work of art. The tallest free standing man-made structure, with over 160 storeys, is also one of the most recognised landmarks in the world.

Ahmed Bin Sulayem, Executive Chairman, DMCC, said:"We are confident that this design represents the face of modern UAE and its aspirations.

This is a great time to launch a reliable, easily transacted legal tender gold coin, since the current level of interest in gold investment is the highest it has ever been globally, the timing couldn't be better.

As the only commodities centre in the region, DMCC has all the required expertise and experience to lead such a prestigious, path-breaking project. We would consider it a unique honour to be associated with it."

DMCC launched the UAE's first souvenir, commemorative gold coin in September 2007, under the 'Visions of Dubai' series.

The 22-carat coin that was available in 1oz (34 g), ½ oz (17 g), ¼ oz (8.5 g) and 1/10 oz (3.4 g), proved to be highly popular with buyers. Designed to reflect Dubai's visionary leadership and the emirate's innovative projects, the first edition carried the image of His Highness Sheikh Mohammed Bin Rashid Al Maktoum on one side and that of Burj Al Arab, the iconic landmark, on the other.

A second series of the 'Visions of Dubai' coin in 24 carat gold carries the image of HH Sheikh Mohammed's image on one side and that of the Palm Jumeirah, the world famous island development.

Source: bi-me.com

Rare coin dealer sues Google for address mixup

2010-02-10T00:05:00.000-08:00

A Jupiter man in the rare coin industry is accusing Google of invading his privacy and causing emotional distress for incorrectly posting his home address instead of listing the location for his Stuart-based company.

In a lawsuit he filed Monday in Martin County Circuit court against Google Inc., Jonathan Harris claimed that having his home address associated with the sale of rare coins leaves him and his family members targets for a home invasion, or worse.

Google “publicly disclosed that the plaintiff’s family home is where rare coins can be found, and conveniently provided a map,” wrote Harris, who is acting as his own attorney.

“A reasonable person who is in the rare coin business would find this objectionable and highly offensive,” he added, “even if the person did not have a family.”

In his suit, Harris claimed Google ignored its own policy to remove sensitive information within 48 hours of a written request. He wants a judge to issue a permanent injunction to prevent Google from posting information about his personal residency.

Officials from Google couldn’t be reached Monday for comment.

Harris claimed he first learned in 2007 that his Jupiter home address was showing up in the results of Google searches for anyone seeking information about local rare coin dealers.

He alerted Google in writing, and his home address was removed, he noted in court papers. But in November 2009, he realized Google was again listing his home address as the site for his rare coin business, prompting him to write four more letters. And a letter from attorney Mitchell Sens threatened legal action.

He suggested their inaction was “causing an inherently dangerous situation.

“Criminals who are willing to engage in burglary or home invasion may assume that the owner of a rare coin business keeps valuables or a safe at home,” Sens wrote to Google Nov. 9. “You have provided a convenient map. The only thing missing is a link to safe-cracking tools and firearms.”

Source: tcpalm.com

Two Varieties of German 2 Euro Coin Identified

2010-02-09T01:12:00.001-08:00

You might think global warming had impacted the design on a German euro coin, if you are superstitious.

Germany strikes its European Union euro coins at five mints. The mint at Stuttgart, which uses an F mintmark, issued a commemorative 2 euro coin in 2008 commemorating Hamburger Michel on one side, with the standard map of EU countries on the other side. Inadvertently there are two versions of the map, one that has been dubbed the “old Europe chart,” and the other dubbed the “new Europe chart.”

The Old Europe Chart variety depicts the Scandinavian coastline so poorly it could easily be argued this is an interpretation of what part of northern Europe will look like after the polar ice caps melt due to global warming. The New Europe Chart 2008-F 2 euro coin has a better defined coastline, more in line with what the coastline now looks like.

Unlike previous error map euro coins, this error has drawn little attention in the numismatic or general press. The varieties were brought to the author’s attention through an announcement in the Worldwide Bimetal Collectors Club e-mail newsletter. Little information was available outside the club newsletter, with the Stuttgart Mint staying out of the limelight.

There was no official word at the time this article was being written regarding if both varieties were available in circulation, and if one variety was scarcer than was the other

Source: numismaster.com

2010 Presidential Proof Set Feb 11

2010-02-08T00:17:00.000-08:00

The United States Mint announced today that it will begin accepting orders for its 2010 Presidential $1 Coin Proof Set on February 11, 2010, at noon Eastern Time. The set contains four proof versions of the circulating Presidential $1 Coins scheduled to be released this year, bearing the portraits of Millard Fillmore, Franklin Pierce, James Buchanan and Abraham Lincoln. Each coin has a common reverse design featuring a striking rendition of the Statue of Liberty.

The term "proof" refers to a manufacturing process in which specially treated coin blanks are struck multiple times with specially polished dies to create a brilliant, sharp relief and mirror-like background. A frosted, sculpted foreground gives the proof coin a special "cameo" effect. The "S" mint mark, representing production at the United States Mint at San Francisco, is inscribed on the edge of each coin.

The 2010 United States Mint Presidential $1 Coin Proof Set is priced at $15.95 each. Customers may place their orders at the United States Mint's Web site, http://www.usmint.gov/catalog, or at the toll-free number, 1-800-USA-MINT (872-6468). Hearing- and speech-impaired customers with TTY equipment may order at 1-888-321-MINT (6468). A shipping and handling charge of $4.95 per order will be added to all domestic orders. There is no household order limit for this product.

Customers may also enroll in the United States Mint's Online Subscription Program to receive automatic shipments of the 2011 United States Mint Presidential $1 Coin Proof Set and subsequent sets as they are released each year. To learn more about this convenient shopping method, visit http://www.usmint.gov/catalog.

Presidential $1 Coins produced for general circulation will be released throughout 2010. The first coin, honoring Millard Fillmore, will be released February 18.

The United States Mint, created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage. Its primary mission is to produce an adequate volume of circulating coinage for the Nation to conduct its trade and commerce. The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

Source:articlesbase.com

Collecting First Day Coin Covers

2010-02-05T02:43:00.000-08:00

The philatelic community has long cherished the creation and collection of First Day Stamp Covers. By simply placing a newly introduced stamp on an envelope and having it shipped to an address (therefore having the stamp canceled on the first day of the stamp's release), a collector has created a philatelic collectible that honors the artistry and symbolism behind the stamp. In more recent times, this practice has been revised and updated in numismatic circles with First Day Coin Covers (FDCC). These items are similar collectibles to the stamp covers, however, they commemorate the first strike and/or circulation release of a newly minted coin.

For the typical First Day Coin Cover, the coin (or coins from multiple mints) is mounted in a special holder that allows both sides of the coin to be visible. This holder is then placed in a specially designed envelope that has appropriately placed openings to allows one to view the coin(s). The envelope is then stamped (usually with a stamp whose value equals the standard first class mail rate for that day) and officially canceled by the post office on the day of the release of the newly minted coin. In some instances, the stamp used on the cover may be associated with the design of the coin. Additionally, a special cancellation image related to the coin might be used for ceremonial releases of some new coins.

Some collectors are not fans of FDCCs with the reasoning that the "First Day" moniker means little in relation to the quality of a coin's design, the grading of the coin itself, or the stated mintage for the coin. However, on the contrary, FDCCs can be intriguing, beautiful and educational in their own right. They are created and sold as much for their informational highlights and presentation aesthetics as they are for any special status the first day of release may portend to the coin itself.

A number of countries have created officially sanctioned coin covers for quite a while now. In the US, collectors and dealers have created their own private FDCC products for many years as well. It has only been in recent times, that the United States Mint has produced official first day coin covers, starting in 1999 to coincide with the beginning of the 50 State Quarters Program. These covers displayed both a P and D mint first day strike of each state quarter with the envelope describing facts related to the origin of the images on the quarters' reverse and how they relate to the state.

The State Quarters Coin Covers were followed by the P-minted Sacagawea Dollar Coin Cover in 2000, for which the Mint became more creative about the details found on the envelope. In this case, the front displays a beautiful portrait of Sacagawea aiding Lewis and Clark during their journey across the Louisiana Purchase and the reverse describes details of her contribution to the exploration of the American west. From 2004 to 2006, five other first day coin covers were introduced to honor the new Jefferson Nickel reverse designs. In 2007, the Mint continued the tradition of First Day Coin Covers by making one for each new Presidential Dollar coin that was minted.

In 2009, with the release of the six additional quarters to honor the District of Columbia and the United States Territories, the Mint created some of the most beautiful First Day Coin Covers by portraying expansive scenic images of each location on the envelopes.

Unfortunately, we have yet to see any further production or evolution of the First Day Coin Covers besides the continuing issuance for the coins of the Presidential Dollar series. No covers were created for the four new Lincoln cent designs in 2009. And as of this date, no coin covers have been scheduled to be produced for the new 2010 Lincoln Cent design or the upcoming America the Beautiful Quarters. We can only hope that the Mint corrects this oversight and for future coins, continues the production this great collectible. But of course, this is also a perfect opportunity for private collectors and dealers to make their own FDCCs for the next set of coin designs.

Source: coinupdate.com

Money Show DVDs available

2010-02-04T00:36:00.000-08:00

DVDs of the educational presentations delivered at the Money Show of the Southwest, held Dec. 3-5, are now available for purchase.

Among the speakers whose presentations are available on disc are former football great Greg Bingham with “Collector’s Approach to Collecting,” historian and teacher Ricardo DeLeon with “Coins of the Mexican War of Independence,” collector Sebastion Frommhold with “Ways to Store Your Coins and Currency,” coin promoter and lecturer Mike Fuljenz with “Gold Coin Market Today,” coin fund manager Bob Higgins with “Ways to Include Gold in Your Portfolio,” Money Show chairman Carl Schwenker with “Have You Ever Really Looked at a Dollar Bill?” and PCGS president Don Willis with “Benefits of Third Party Grading.”

The educational presentations are sponsored by the Greater Houston Coin Club.

Also for sale is a DVD containing highlights of the 2009 Money Show. It includes a report from Chairman Schwenker, a display of proof-like Morgan dollars, news from the American Numismatic Association’s executive director and information on a new Texas currency book.

The videos are produced by David Lisot, founder of Cointelevision.com. He has been involved in video and television production since the 1980s.

The Money Show DVDs retail for $24.95 plus $4 shipping and handling. A complete list of hundreds of other available DVDs on coin collecting can be found at www.coinvideo.com.

Source: numismaticnews.net

Saving for vacation, then savoring the memories

2010-02-01T02:47:00.000-08:00

This is how it was: Every day, after work, my father would put his quit-smoking money into a bank, which he kept on top of his dresser. He’d walk straight into his bedroom and empty his pockets. The bank was big, some kind of mongrel dog, a porcelain thing my mother shook her head at. On her dresser sat an Infant of Prague.

When the bank was full, and this took a long time, a year, sometimes two, when my father couldn’t squeeze in one more dime, he would shout for me and say, “It’s time!’’ And I’d come running, no matter if I were watching the “Mickey Mouse Club’’ or “American Bandstand,’’ because this was the Big Day.

My father quit smoking when I was 8, so how often did we do this? Two, three, four times?

We’d sit on the bed and he would ceremoniously remove the black rubber stopper from the bank’s bottom and out would pour a stream of nickels and quarters and dimes and dust.

We’d hoot and holler and breathe in the twin smells of copper and cash, and my father would grin and say things like, “Wait ‘til your mother comes home. Wait ‘til she sees all this,’’ as if we were sitting on a pile of gold in the middle of Ali Baba’s cave and not in the small bedroom of a humble house with a 30-year mortgage.

We made piles of coins on the chenille bedspread, then counted and added. The sum was always around $300. This was our vacation money, and once it was determined exactly how much we had, we were good to go.

Mostly we went to New Hampshire, because my mother loved Echo Lake, and my father loved making my mother happy. It was that simple.

But maybe it wasn’t.

Maybe they wanted to go to New York, but $300 wasn’t enough. Or to Disneyland, but they could never afford that. Maybe he couldn’t get time off when she could. Maybe they had problems getting me out of school. Maybe they planned the trip around motel deals and the lowest rates of the season

I’ll never know. To me it seemed as if one day we were giddily counting change, and a few days later we were standing on top of Mount Washington posing for pictures.

But that’s a child’s perspective.

The child is a grown-up now, and the adult she’s become has been salting away money, not in a bank on a bureau like my father, but in a bank in my town. I did the math a month ago. Let’s go on vacation, I yelled.

And sure enough everyone yelled back. A vacation? Great! But when and where? Everyone is busy. Everyone works. Everyone has kids. Everyone has commitments and appointments and obligations. And no one can just pack up and go.

“February’s not good for us,’’ my son said. “We’re moving.’’

“March isn’t good for me,’’ my daughter said. “It’s ‘Cabaret’ month and there are shows every weekend.’’

“April’s out for me,’’ my husband chimed.

May? It’s a possibility but, not the second and third week.

Two years ago, on our first and only family vacation, we went to Walt Disney World, some of us for four days, some of us for two. It was magical even though half of us were felled by a 24-hour bug.

I want to go back to Disney World, but someone says beach and someone else says golf and someone else says, “Where can we go that is all-inclusive?’’

Back in the day when rolled coins could finance a trip, there were just three of us. And I didn’t have a vote. It was New Hampshire or New Hampshire.

Now there are eight adults and seven children.

“Just pick a week, Mom, and put it out there. Then we can decide the place.’’

I vote for Echo Lake. It’s a car ride. We can go to Story Land. And Santa’s Village. We can hike and fish and swim and ride horses. And we can go in June or July or August.

And when we’re all together, what I’d really like to do is drive to the top of Mount Washington and pose for a picture with this sprawling, hard-to-get-under-one-tent, amazing family that I love.

Source: boston.com

U.S. Coin Shipments, Beer Sales Both Fell Sharply In 2009

2010-02-01T02:35:00.000-08:00

The number of brand-new quarters supplied to American banks by the U.S. Mint fell 61.55% from 2008 levels. The number of brand-new coins of all types shipped by the Mint -- pennies, nickels, dimes, quarters and $1 dollar pieces -- dropped 48% last year.

These figures were among those issued by the Mint, indicating that the severity of America's economic recession has caused the U.S. Federal Reserve System to experience a sharply lower need to replenish inventory and fulfill commercial demand for coins in 2009.

Shipments of new quarters fell from 2.5 billion in 2008 to just 965 million in 2009. Deliveries of new dollar coins fell 3.37% from 475 million in 2008 to 459 million in 2009. Total shipments of coins from the Mint to the Federal Reserve were 5.2 billion coins for calendar 2009 (which is fiscal year 2010), compared with 10 billion units the year prior.

A separate statistical report also reflects the deep recession and its impact on the coin machine industry. The Wall Street Journal reported that U.S. beer sales volumes declined in 2009 by the highest rate seen in over half a century. Beer sales dropped 2.2%, the sharpest one-year drop since the 1950s. Figures represent both take-home sales and on- premise consumption.

The paper said demand was especially soft in the final few months of 2009. Anheuser-Busch InBev NV and MillerCoors LLC are the leading U.S. breweries, following mergers for both companies. Beer prices from the two leading suppliers rose about 5% last year, contributing to weak sales.

Source: vendingtimes.com

The History of Coins

2010-01-29T03:44:00.000-08:00

People have always had some type of monetary unit or compensatory method. In the ancient days of China shells were used, then later the Mesopotamians invented a type of banking where people could keep their grain, gold, livestock or other things safe or trade them by making a system of deposit. Actual coins began to appear a little later in time, and made life a lot easier for those who used them

The full history of coin covers a time span that ranges from ancient to modern day and is in fact, still unfolding.

The First Coins

Coins were invented at some point around 700 BC. Depending on who you ask, they were invented near Aegina Island or according to other scholars; the point of invention was in Ephesus Lydia at about 650 BC.

However you slice it, the first coins in the world appeared around 650-700 BC and were tied to the ancient Greeks. They were made of an alloy which was called electrum, which was a mingling of gold and silver and featured the head of a lion on the front side.

Many people believe that keeping things neater, making life more convenient was the impetus for development of actual coins. Since the time of those first coins and the lightweight, convenient means of payment that they offered, different countries have developed their own throughout history.

The Byzantine Empire was responsible for the minting of numerous different coins, many of them which bore the images of the emperors and later, of the cross of Christianity.

Tombs found as early as the latter part of the 11th century BC in China show us what are some of the first copper coins that have been found and from those tombs we know that coins were widely used by the Han Dynasty of China.

How Were Coins Made?

Many of the earliest coins were beaten around the edge so that they imitated the shape of a cow, which was their approximate value. Some coins were rectangle in shape while others were round. Many had holes in them so that they could be strung and carried even more conveniently.

The first coins that we find in history were made of little more than scraps from various metals. They were made by a hammer hitting the metal scrap that lay on an anvil. The Chinese introduced the first cast type of coinage that was seen, and this soon spread to Japan and other parts of Asian but aside from these, very few governments used cast coins.

The earliest coins that we find which were made of entirely gold or silver were the gold Dinars and the silver Dirhams which were found in the 7th century in the earliest years of the Islamic Caliphate.

United States Coins and Mints

The United States coins that are in use today have seen multiple changes since they began. The US Mint, which is the organization that makes United States coins was established by an act of Congress in 1792, and has operated continuously since that time. It was not until nearly a hundred years later, in 1873 that it became part of the Treasury Department.

United States coins have seen a wide array of change since they began to be made. Originally only a few coins were minted. Many of these contained some level of silver. Due to a wide range shortage of silver that took place the world over the Congress of the United States passed a coinage act.

The Coinage Act of 1965 caused a change to be made in the makeup of such coins as dimes, quarters, and fifty-cent pieces. These had all previously been made of about ninety percent silver. The silver content was completely removed from the quarter and the dime, while the half dollar content was lowered to about forty percent silver. That coins silver content too was removed in the early 1970's so that now the half dollar bears no silver in its makeup.

U.S. coins which were made in the beginning were these:

**Half Cent
**Two Cent
**Three Cent
**Twenty Cent
**Half Dime

Gold Coins in the United States appeared in the following denominations:

$1-One Dollar
$2.50-Quarter Eagle
$3-Three Dollars
$5-Half Eagle
$10-Eagle
$20-Double Eagle

Many of these coins were in play in the United States from about 1795 until 1933 in the United States.

Coin denominations that are in use today in the United States are the familiar penny, nickel, dime, and quarter, although at various times others are minted such as the Susan B Anthony and the Sacagawea dollars.

Mints and Mint Marks

The United States coins were given mint marks in many cases, which changed the appearance, and sometimes the value of the coins.

There are only a few mints that are now in operation but there have in the past been more. The Philadelphia mint began in 1792 and has functioned since that time. Denver mint entered into play beginning in 1906, while West Point Mint, which was at one time the bullion depository, does primarily gold Silver & Platinum coins. It was not officially recognized as a mint until 1988.

All coins in the United States offer a mint mark that lets you know which mint produced those coins. This is true with just a few exceptions. Between 1965, when the Coinage Act specified that no mint marks be used, and 1968, when they were authorized to reappear, no mint marks appeared on US coins. U.S mint marks usually show a P, or no mint mark for Philadelphia and D for those coins minted in Denver, while an S is shown for San Francisco, and a W mint mark for those coins minted at West Point.

Coin Collecting

Coins are not only a means of payment. They are now, and have been for many years, a means of investment, as well as something that is avidly and ardently collected. Coin collectors have spent many thousands, sometimes millions of dollars on a rare coin that was highly sought after.

Highly Expensive Coins.

In 1933 the US government decided they would no longer distribute the Double Eagle gold coin and destroyed all that existed. The problem was that they didn't. One man had managed to steal several which the government thought they had recovered and destroyed.

Again, they thought wrong. Three of the Double Eagle coins survived the destruction. Two of them were in the Smithsonian Museum, while the third came into the hands of a private collector. That coin was stored in a vault in the World Trade Center after being seized when it entered the country to be sold in New York.

Fortunately the coin was moved just a few weeks before the 9-11 attacks and had ended up in Fort Knox. In 2002 it was sold to a collector who remains unnamed at a cost of more than 7 Million dollars, which makes it the most costly coin ever sold.

Among the most avidly collected coins that have been sought after are some which are the most ancient and unique, as well as others which are not quite so ancient, but piqued the interest of collectors. Roman coins, Greek Coins, Pirate doubloons and Byzantine coins are some of the most prized by collectors throughout history, but so too is the Kennedy half dollar. Highly prized by collectors as well are mint sets and proof sets.

What is a Proof Set?

A proof set is a set of coins that are packaged by the mint which produced them. These coins are specially made types of the coins. They are coins which has had the planchet( the blank metal of which the coin is made) very highly polished. The coins are then struck not once but several times so that the quality of the image on the coin is extremely detailed.

What is a Mint Set?
A mint set is a set of coins that are uncirculated and specially packaged. They contain one of each denomination for the coins that were minted in that year.

Gold and Silver Coins and Bullion

Also prized by both collectors and investors are the various other types of bullion coins. They are minted specifically for use as pure precious metal coins. They are comprised of gold bullion, silver bullion, or sometimes even platinum. The coins are made in multiple ways, by multiple countries. Not only United States coins are ardently collected.

Among those coins which are minted world wide and are collected and sought after are:
American Eagle gold, silver and platinum coins
Buffalo Gold Coins
Canadian Maple Leaf gold & silver
South African Krugerrands
Chinese Panda gold and silver coins
Austrian Philharmonics
British Sovereign gold coins
.999 Fine Gold & silver Bars

Coins, as you can see have enjoyed a long and diverse history. Collecting coins and precious metals is a unique hobby as well as an investment that can net you some remarkable returns, both in monetary compensation, as well as personal satisfaction.

Source: bestcoin.com

Why Collect Coins?

2010-01-29T03:40:00.000-08:00

Collecting coins is challenging, educating, fun and most of all can be a financial investment that will pay off. Growing your coin collection involves searching for coins and learning their history. This can give you countless hours of enjoyment, and eventually a valuable collection. This amazing collection can also be a wonderful inheritance, both financially and personally because you collected it. It can be handed down for generations to come, a great idea for everyone.

The supply and demand determine the price a dealer would charge, thus the market value of any In addition the quantity available of a coin and the number of interested collectors all play a part in valuing a coin. Once a coin becomes acknowledged as a rarity, its worth normally increases whenever it changes hands. To improve the value of any coin it should be kept in a good state of preservation. If a coin is in perfect condition, just as it was when it left the mint, it might be worth much more than the same coin in average used condition. Defacement or damage will to a great extent reduce the value of a coin. Collectors and dealers use a point system as well as a set of terms to describe the condition of coins: Uncirculated or Mint State (ms 70-60), about Uncirculated (au 55-50), Extremely Fine (ef 45-40), Very Fine (vf 30-20), Fine (f 12), Very Good (vg 8), and Good (g 4).

Every date, mint mark, and design is considered as a different coin. The object is to acquire one of every variety issued but to also upgrade the condition of the coins already found. A collector must trade or buy to fill in a series The amount of coins to be found in circulation though is fairly limited.

Acquiring types of older coins is another kind of collecting. The object for the collector is to obtain a single coin to represent each different face series. Every coin is unusual and has its own record. Most coin collectors start collecting coins from their own country. Over the past 200 years or so the United States has issued many denominations. Some of them are quite remarkable, while different ones are stunningly gorgeous. There are the penny, nickel, dime, quarter and half dollar that we are familiar with. When collecting coins from other countries be aware that there are many thousands of varieties available

Collectors must do their research when deciding on the purchase of expensive coins. Things to know are, the current market value for the item, how easily and for price it can be resold, and its potential appreciation. Most importantly the collector must be knowledgeable enough to know whether a coin is authentic, or must have confidence that the dealer does.

To obtain some idea of current prices realized for various coins there are coin catalogs, dealers, magazines and newspapers, and of course the internet which is usually more up to date. An important feature of the major Numismatic conventions is the coin auctions. There are catalogs of the items to be sold that are issued ahead of time, and lists of the prices at which the items were sold can often be obtained after that. They may have tables where Numismatists can judge the offerings of many dealers. There are local coin clubs where you can meet with other collectors and can assess future trends.

Having a display cabinet with pull-out trays is a fabulous way to share your coin collection. An album system with plastic pages that hold individual cardboard coin mounts is also available. For large numbers of coins use small, standard-size coin envelopes filed in boxes

Source: coinarticles.ws

Coins pile up at YMCA

2010-01-27T05:45:00.000-08:00

Old coins and banknotes are pouring in at the YMCA Homeless Shelter in Valletta, as the NGO seeks to put into good use money which has not been used for years.

The campaign was spurred by the Central Bank’s reminder that Maltese Lira denominated coins can only be exchanged until February 1.

The public is urged to donate any amount of old currency to the YMCA at its offices at 178, Merchants Street, Valletta, until then. Those who do not have the time to pass by also have the option of calling the NGO on 2122 8035, so that its volunteers collect the donations – small as they may be – themselves.

The NGO is mostly known for its work with the homeless, but also provides many other services, including assisting victims of domestic violence, the unemployed, usury victims and drug addicts. Last year, it assisted an average of 50 people daily.

The YMCA receives some government assistance, but this only amounts to around 15 per cent of its operational costs, which currently amount to €270,000 a year.

Meanwhile, those who have already gotten rid of their old coins can always donate via SMS, sending one to 5061 8088 for a €4.66 donation or to 5061 9212 for a €11.65 donation.

Source: di-ve.com

Coin show comes to fairgrounds

2010-01-27T05:36:00.000-08:00

From historical coins to old stamps and postcards, the Middle Georgia Coin Club hosts its annual Coin & Postcard Show and Sale at the Georgia National Fairgrounds & Agricenter from Friday through Sunday.

The show has been well established for more than 40 years, said Bill Lane, who has been with the club for 25 years and has been collecting coins for “eons.”

There will be roughly 140 dealers from states as far-flung as Michigan and Maryland who come down to Perry to participate in the show. Most dealers attend shows not only to sell but to buy as well.

“Dealers cannot make old coins,” Lane said.

In addition to old coins, there will be the 2010 Silver Eagles available from the U.S. Mint. They will be a week old when the show begins.

National suppliers also will be on hand for storage and display of collections. Authors and books will be available for reference.

The club has also asked two individuals to do free appraisals and certificates of authenticity.

Lane expects several thousand people to pass through the doors during the three-day show.

He said he loves to see first-time collectors trying to decide what to buy.

And there are many things to choose from. Lane said there is one dealer who specializes in Dahlonega gold coins. There will be all sorts of currency there.

Although the event is free, Lane joked that it might be expensive to leave.

Since he has been a collector most of his life, he understands what it’s like to get an exciting find.

He tells the story of a dealer who bought currency from a lady, and in a reference book it had only one known in circulation. And after that show, there were two known in circulation — in the world.

“The fun thing is it allows me to come in contact with anyone from rocket scientists to pig farmers to Indian chiefs to kids just starting out,” Lane said.

“That’s fascinating to me.”

Lane knows a rocket scientist, a few lawyers and engineers and loves rubbing shoulders with them, but his favorite activity seems to be helping children understand the value of a coin.

Source: macon.com

The History of Gold Coins Issued by Usa

2010-01-26T04:53:00.000-08:00

The first gold coins in the United States were issued back in 1795. The Unites States Mint set the value of the U.S. Dollar at 24 grains of gold. The value was based in accordance with the world price on the precious metal, which at that time was $19.39 per troy ounce.

The U.S. gold coins started to be issued in seven different mints around the country as the Western Frontier of the Unites States began its expansion. The mints were set from Philadelphia to San Francisco. The sizes of coins varied from one dollar gold piece to fifty dollar denomination. It is worth mentioning that at that time the U.S. mints issued coins that were worth their weight in gold.

In 1834 and 1837 U.S. Congress modified the gold specifications by setting the price of gold at a mark of $20.67 per ounce. When the Great Depression occurred in 1933, President Roosevelt made gold an illegal asset for the citizens of the United States. During this period, by Roosevelt's order, all gold coins were returned to U.S. Treasury and the melted into gold bars. After that the value of the U.S. dollar coin was set to $35 per ounce. The global outcome was to decrease by 40 percent the buying power of the dollar

When millions of gold coins were melted into gold bars, they became very rare and thus highly sought by various collectors. According to money experts only about one percent of gold coins can be found today. Each gold coin that survived till nowadays is highly valued by collectors and investors.

Every gold coins minted in the United States before 1933, is valued on individual basis according to its date, rarity, appeal among various collectors and its grade.

What is Rare Coin Grading Worth?

Coins that fall under the category "rare" are graded on ANA (American Numismatic Association). The scale ranges from 1 to 70. Coins are certified authentic and then PCGS or NGC, two leaders in providing coin grading services. For example a gold coin graded 1 has a slightly visible date, very wear and its value is a little above its weight in gold or precious metals. Obviously the better the coin is preserved the more a collector or investorinvestor in willing to pay for it.

Double Eagles

1933_double_eagle_gold_coin_reverseVery often a collector starts his Gold Coin Collection of U.S. coins minted before 1933 with a $20 Double Eagle. Note that from 1849 to 1907 U.S. Mist issued the Liberty series. The Mint then changed the design of the Double Eagle into Saint-Gaudens. The latter were minted in the period between 1907 and 1933.

Starting a collection of Pre- 1933 U.S. gold coins is advantageous for several reasons:

"Pure Gold Content" - this means that each coin includes almost 1 troy ounce of gold.

"A Double Profit Opportunity" The gold market is continuously changing and $20 Double Eagle gold coins already have a history showing the continuously rising value, which goes 2 to 3 times higher in value if compared to the gold bullion alone.

The 1933 Saint-Gaudens Gold Double Eagle Coin

One of the most valuable, if not the most valuable, coin is considered to be the 1933 Saint-Gaudens Gold Double Eagle1933 Saint-Gaudens Gold Double Eagle. It actually was never officially issued. Still it appeared from 1907 until 1932. Although in 1933 there were 445,500 Double Eagle minted, none were released into circulation because of the changes made in currency laws during the Great Depression.

The result of the Great Depression was that president Franklin Roosevelt took America off the gold standard. The gold coins were drawn out of circulation and afterwards were not issued anymore. Besides, people had to return the ones they had

Later, in 1933, the Double Eagle coins were declared illegal. It was prohibited to own any of the gold coins, unless they had a collectible value.

The same year Gold Double Eagle coinsGold Double Eagle coins were ordered to be melted by the U.S. Mint. By 1937 billions of gold bars were made out of these unique coins.

A few coins have escaped from being melted down. In1933 two of them were given by the Mint to the U.S. National Numismatic Collection at the Smithsonian Institute. These two Gold Double Eagle coins were known as the only legal specimens to ever become part of a coin collection. Still by 1952, eight additional coins were discovered. These were confiscated by the Secret Service.

Source: articlesbase.com

Why You Need To Consider Your Coin Collection Value

2010-01-26T04:50:00.000-08:00

The coin collection value is the most important aspect of coin collecting for most collectors. Many people regard coin collecting as an investment, so they need to be updated with market demands. In general, the valuation of a particular coin depends on its condition, mint rarity and denomination which is why collectors must build up their knowledge in these areas.

There are many price guides which are used for referencing by coin collectors. "The Standard Catalog of World Coins" by Chester L. Krause and Clifford Mishler manage to cover coins starting from 1601, all the way down to the present time in five volumes. In the book, coins are identified and their prices are listed. When trying to determine my coin collection value I have often referred to this publication and can personally recommend it as a good source of information.

A guide book for United States coins called the "Red Book" is published annually and is also a respected authority as a retail price guide. The "Blue Book" and the "Black Book" are also well established price guides to determine the value of a coin and thus the coin collection value. The "Coin Dealer Newsletter", more popularly known as "the Greysheet", is a price guide for coin dealers. The Numismatic News publishes prices for dealers, bidders and retailers. There are even online resources which maintain prices of coins like the "NumisMedia" website and a price guide for U.K. coins maintained by Tony Clayton can be found on his personal website.

As a rule rare coins are more expensive but rarity does not necessarily have to do with the age of the coin. Some Chinese coins which might be a thousand years old do not sell at high rates because they are common. The price of the coin also depends on the demand for the coin. If a lot of collectors want a particular coin, its price will get higher.

Collectors must also think about grade when establishing their coin collection value. Coin grading is a method of assessing the condition of the coin - the grade of the coin has a high determination of the eventual valuation of the coin. If a coin has been damaged its price will be reduced. Similarly, bullion also plays a role in determining value - the presence of precious metals like Gold and Silver increase the price of the coins as well. The aesthetical appeal of the coin has an effect on its price as well; it makes the coin more attractive for the collector. The American Numismatic Association has a 1-70 range for assessing coins, where 70 represents a faultless coin. The Numismatic Guarantee Corporation (NGC) and the Professional Coin Grading Service (PCGS) are two organizations that go through the meticulous task of grading coins. Coins that have been certified by these reputable organizations have a higher value as their authenticity is more valid and reliable. ICG, Independent Coin Grading, and ANACS, handled by the American Numismatic Association are two other reliable grading services available.

Many people have accumulated tables of coin values which show coin collectors the values of particular coins – these tables can be built up over the course of a lifetime and can prove invaluable when establishing the coin collecting value; they give the collector the knowledge regarding which coins are worthy to be collected. There are also lists of coins worth collecting available with coins that are scarce ranked considerably higher. For example the 1909-S VDB Lincoln cent would be one of these coins. Items such as the legendary 1913 "V" nickel can be worth over $100,000. These hefty prices show why so many investors are willing to invest in coin collecting and expect high rates of return to their investments.

Source: articlesbase.com

Gold exhibit sails to Long Beach

2010-01-25T08:51:00.000-08:00

For the first time in six years, the “Ship of Gold” display of California Gold Rush-era sunken treasure recovered from the 1857 shipwreck of the S.S. Central America again will highlight the Long Beach Coin, Stamp and Collectibles Expo Feb. 4-6.

The three-day show also will feature an exhibit of the all-time finest set of early U.S. half dollars in the Professional Coin Grading Service Set RegistrySM.

The “Ship of Gold” display is housed in a specially constructed 40-foot long representation of the famous ship’s hull. This will be its first public appearance anywhere in the country in six years.

The exhibit is courtesy of Monaco Rare Coins of Newport Beach, Calif., and it features gold ingots and California Territorial coin issues that Adam Crum, Monaco vice president, values at $10 million.

Bob Evans, the chief scientist on the 1980s mission by the Columbus-America Discovery Group that located and recovered the sunken treasure, will be at the display each day.

The early U.S. half dollar set features 101 coins from the collection of Dale Friend of Nevada, and 20 of the coins are either the finest or tied for the finest ever graded by PCGS.

Friend’s basic collection of circulation strike early half dollars, 1794-1839, has been ranked number one in the PCGS Set Registry the past six years.

Public hours of the Long Beach Expo are Thursday and Friday, Feb. 4 and 5, from 10 a.m. to 7 p.m., and on Saturday, Feb. 6, from 10 a.m. to 5 p.m. General admission is $6 (good for all three days); $4 for members of any coin or stamp club who display a valid membership card; and $3 for seniors 65 and older. Admission for children ages seven and younger is free. Discount coupons are available online at www.LongBeachExpo.com.

A free gold coin door prize will be awarded daily to a lucky, registered visitor.

A children’s treasure hunt will be held on Saturday, Feb. 6. Educational programs and collectors’ clubs meetings will be conducted during the show and are open to the public.

Source: numismaticnews.net

Cyprus police prevent smugglers from selling ancient artifacts for millions

2010-01-25T08:49:00.000-08:00

Authorities have busted a smuggling ring in Cyprus and recovered dozens of ancient artifacts it planned to sell for C11 million (15.5 million), including a miniature gold coffin, silver coins and terra-cotta urns, police said Monday.

In what is believed to be the largest antiquities theft case of its kind in the Mediterranean island's history, police seized the artifacts dating back thousands of years from homes, storage sheds and vehicles where they were being hidden.

The artifacts include copper and silver coins, terra-cotta urns and clay and limestone figurines believed to date from the Copper Age to around 400 B.C., Cyprus Antiquities Curator Maria Hadjicosti told The Associated Press.

Ten Cypriots were arrested during the raids over the weekend, and authorities were searching for another five suspects, including a Syrian man, police spokesman Michalis Katsounotos said. The suspects face charges of illegally possessing and trading in antiquities.

Police said the smugglers had planned to sell the artifacts in Cyprus, but would not identify the buyer. Authorities also said they were investigating where the artifacts had been obtained.

Katsounotos said this was Cyprus' largest antiquities smuggling case in terms of the amount of recovered artifacts, their archaeological value and the number of arrests.

Most of the artifacts are urns primarily found around the southern coastal towns of Limassol and Paphos, Hadjicosti said. Some of the coins could date to Hellenistic and Roman times.

The curator said some of the recovered artifacts, including the gold coffin and other gold objects, don't appear to be Cypriot, and more study was needed to determine their precise origins.

Communications Minister Nikos Nikolaides said the bust was conducted with the help of Greek authorities, but he wouldn't provide details. He also said some of the antiquities may have been dug up from archaeological sites in the breakaway Turkish Cypriot north of the island.

Excavations on Cyprus have uncovered settlements dating back to around 9000 B.C. Cyprus then saw successive waves of colonization, including Phoenicians, Mycenaean Greeks, Romans and, in the Middle Ages, Franks and Venetians. The island was conquered by Ottoman Turks in 1571 and became part of the British Empire in 1878 before winning independence in 1960.

Violence between Cyprus' majority Greek community and the Turkish community broke out shortly after, and the island has been divided along ethnic lines since a Turkish invasion in 1974 - prompted by a failed coup aimed at union with Greece.

Source: google.com

Antique clock, marbles, coins recovered in three SWAT raids

2010-01-22T01:40:00.000-08:00

Sheriff’s detectives and investigators from the Bureau of Alcohol, Tobacco, Firearms and Explosives raided a pair of homes early Thursday and recovered property stolen from a North Spokane County home over the Christmas holidays.

A search warrant was executed first at 1311 W. Dalton in Spokane. There investigators found stolen antique marbles and coins. The second warrant was served at 4905 E. Deer Park-Milan Road where detectives found a stolen .22-caliber pistol and a firearm telescopic sight.

Because the search warrants specifically targeted stolen firearms, both warrants were executed using the sheriff’s Special Weapons and Tactics Team (SWAT.) Both homes were occupied at the time of the raids, but there were no injuries to any of the participants.

The warrants were sought after investigators learned that property taken from a home in the 16000 block of North Newport Highway might be located inside the target residences.

The burglary victim had been out of town from shortly before Christmas until after the new year. When he returned January 4th, he discovered the break-in and that numerous firearms and other collectables had been stolen. His Chevrolet Astro van was missing as well.

Investigators said Thursday they believe the burglars made several repeat trips to the victim’s home to remove property. Their search warrants and interviews Thursday morning led them to a pair of storage units atop the Sunset Hill where they recovered more stolen property, to include a grandfather clock.

A spokesman for the investigative team said that no arrests were anticipated Thursday, but that detectives would continue to build their case and identify additional suspects. At some point in the future, the suspects would be charged by warrant.

Source: nwcn.com

Initial Eagle Sales Top 2.4 Million

2010-01-22T01:35:00.000-08:00

Authorized buyers took 2,440,000 silver American Eagles from the U.S. Mint Jan. 19, the first day that the 2010-dated coins were made available to the market.

Also available on the same day for the first time this year were 2010-dated gold American Eagles. Authorized buyers snapped up 30,500 of those coins.

In addition, gold buyers purchased 18,500 2009-dated gold American Eagles. The Mint had 51,000 left when the new 2010 date went on sale. Buyers are required to take one 2009-dated gold coin for every 2010 gold coin they buy.

Demand for the 2009 gold coin must still be fairly good because buyers took more than the minimum required.

There were still 32,500 of the 2009 gold American Eagles waiting to be sold.

Only authorized purchasers can buy these coins directly from the Mint. They in turn sell them to the secondary market where investors, collectors and dealers can make their purchases.

Source: numismaster.com

Bid for 1927-D reflects very precise grade

2010-01-21T01:53:00.000-08:00

While most attention has been directed at the 1913 Liberty nickel that sold for $3,737,500, a 1927-D Saint-Gaudens $20 gold coin also sold during the Heritage Platinum Night Jan. 7 in Orlando. It brought $1,495,000. While 1927-D Saints have sold for more in private transactions, this is the second highest auction price.

The Platinum Night session is devoted to costly choice and/or rare U.S. coins. According to Jim Halperin, Heritage co-chairman, the total for Platinum Night alone is more than $25 million.

About this 1927-D $20 gold coin, Matt Kleinsteuber exclaims that it is “absolutely spectacular with beautiful original surfaces, highlighted by the original copper showing through, especially on the obverse. A wonderful coin that is all there coin for the -66 grade. It was definitely special.”

Kleinsteuber is an expert grader and trader for NFC coins. Also, he teaches grading in ANA seminars.

The 1927-D $20 gold coin is a great rarity. There are four in museums and seven to nine that are privately owned. I know of just seven privately owned, though the existence of an eighth is probably indicated. So, it seems that there is a total of 11 or 12 known now, and that one or two others plausibly exist.

The 1927-D that sold was part of the Ralph Muller collection. Muller is rumored to have acquired his coins from a West Coast dealer over a period of many years. He consigned his set of Saint-Gaudens $20s to this auction. This same 1927-D was once in the collection of the Connecticut State Library. In 1995, Heritage auctioned a small number of coins that were de-accessioned from that collection. Curiously, the “library” retains another 1927-D $20 gold coin.

Jay Parrino bought the Connecticut Library-Muller coin in 1995 at an auction in Long Beach, Calif. It was then graded MS-66 by Numismatic Guaranty Corp. It has since been graded MS-66 by the Professional Coin Grading Service as well. It was in a PCGS holder when it was auctioned Jan. 7.

There was no floor bidding and the coin sold to an Internet buyer. Laura Sperber, however, stood up after it sold, grinned, and gave a literal ‘thumbs up” signal. In response to a query from me, she stated, unequivocally, “Legend Numismatics purchased the ’27-D out of the Heritage sale.” Sperber is the largest shareholder of Legend Numismatics.

In December 2009, Legend Numismatics bought and sold the Eliasberg 1927-D, which is also PCGS graded MS-66. In 2005, she bought the “Dallas Bank”-Browning 1927-D from Steve Contursi and placed it in a now complete collection of Saint-Gaudens $20 coins. The Dallas Bank collection 1927-D is one of five that is (or was) PCGS graded MS-66. The Steven Duckor 1927-D is another. It was formerly in the Auction ’84 event. Duckor consigned it to the Thaine Price sale that was conducted by the firm of David Akers in May 1998.

Dr. Duckor has assembled two sets of Saints, the first was complete and a 1927-D is deliberately omitted from the second. Both sets are listed in the PCGS Registry, as are his sets of Barber coins, two of which are “retired.” He is a distinguished expert in early 20th century gold and in Barber coins.

The finest known 1927-D is the Philip Morse coin that Heritage auctioned in November 2005 for $1,897,500, an auction record for a 1927-D. Earlier, Parrino bought it for $522,500 when Stack’s auctioned the “Charlotte” collection of Saints in March 1991.

Though I have never seen the Eliasberg 1927-D, I have held (in PCGS or NGC holders) and closely examined all of the six other privately owned 1927-D $20s that are known. I wish that Sperber and her partners had let me know that they briefly had the Eliasberg 1927-D, and invited me to see it. I would have been glad to travel to the Legend office at my own expense just to view the coin for five minutes.

Sperber figures that “the Eliasberg piece and the ‘Dallas Bank’ coin are identical. We had them side by side. Both have a few ticks – but very tiny and light ticks. Both have the same darn luster and color. If you hold one one way, it’s better; hold the other in a different way, it seems better. It was really neat to compare them.” Although the Muller coin is not quite as nice as the Eliasberg and “Dallas Bank” coins, Sperber does “still like it very much.”

Duckor asserts that the Eliasberg 1927-D, the Dallas Bank 1927-D, and the one that he used to own are “all comparable” and “are of very similar quality.” Further, in Duckor’s opinion, the Connecticut Library-Muller 1927-D is really a “-65 Premium Quality coin, not a -66.”

Additionally, Duckor states that the McDougal collection 1927-D that Heritage sold in January 2006, and offered again in January 2007, grades just -65. It was NGC certified MS-65 when it sold on Platinum Night in January 2006, and the buyer later resubmitted it to the grading services. It is now PCGS graded MS-66. It is said to have traded privately in the summer of 2007, prior to the start of the American Numismatic Association Convention in Milwaukee.

I agree with Duckor that the McDougal coin does not grade -66. I agree with Kleinsteuber, however, that the Connecticut-Muller 1927-D, which just sold, grades -66, though my impression is that it just barely does.

Duckor emphatically points out that the Connecticut Library-Muller 1927-D did not receive a sticker of approval from the Certified Acceptance Corp. The failure of a coin to receive a sticker from the CAC, though, does not mean that the respective coin is questionably graded, and it does not even mean that CAC experts have determined that it is overgraded.

A coin that is certified as grading -66 may be overgraded, may be undergraded, or its grade may be in the low end, mid range or high end of the -66 range. The CAC will not approve a coin that the CAC regards as low end, but a low-end coin may be accurately graded.

According to CAC policy, a low-end, accurately graded coin will not receive a CAC sticker of approval.

It may be fair to grade the Connecticut-Muller 1927-D as -66.1, more or less, by widely accepted standards. While very advanced collectors of early 20th century gold coins are not thrilled about a -66 grade for this coin, my guess is that most coin buyers are or would be accepting of it. It is of higher quality than a large number of common date 1924 and 1928 $20 gold coins that have been graded MS-66 by the PCGS or the NGC. It is preferable to the McDougal 1927-D that is also PCGS graded MS-66.

The Connecticut-Muller 1927-D has never been cleaned or dipped. It has glistening fields on the obverse, with nice, natural blue, russet and tan tones. The reverse is of a neat slightly brassy, somewhat reddish gold. Indeed, I cannot now find words to fairly describe the colors of this coin, which are appealing.

This coin is very attractive on the whole, with the reverse being both more attractive and of higher quality than the obverse. The contact marks on the lower part of Miss Liberty and in adjacent areas are really only distracting when the coin is viewed with a magnifying glass. Generally, this coin has a pleasing natural look.

While Duckor holds that the $1,495,000 result is “a -65 price” not a price for a -66 grade 1927-D, I disagree. I believe it is a strong price for low-to-mid-range -66 grade 1927-D. Coin markets were stronger when the McDougal 1927-D realized $1,322,500 in January 2006. While coin markets have been moving upward in recent weeks, the market peak in August 2008 is still a distance above the current levels. Moreover, the market for gem quality, early 20th century gold peaked before overall markets for coins in general. If the “Dallas Bank” 1927-D or the Duckor 1927-D $20 gold coins had been in this same auction, one or the other probably would have realized at least $1.7 million.

It may be impossible to buy a 1927-D Saint for less than $1 million. The lowest graded 1927-D is the Kramer-Richmond-Lord Baltimore-Park Avenue coin. It was NGC or PCGS graded MS-62 for many years, though it was graded AU-58 in an earlier era, and is now PCGS graded MS-63. Most of its history is not found in the Heritage catalog.

The lowest graded 1927-D became famous for being in the Richmond and Lord Baltimore collections. Richmond and Lord Baltimore are code names for collectors. The Lord Baltimore-Park Avenue (#1) Collection of Saints was retired from the PCGS registry on April 4, 2005. It was 100 percent complete in business-strike Saints and included the 1927-D that was earlier in the Richmond Collection, which DLRC auctioned in 2004 and 2005.

Bob Green of Park Avenue Numismatics sold the Richmond-Lord Baltimore 1927-D to Superior Galleries in the summer of 2005 for slightly above $1 million. An associate at Superior reported to me that he sold it for less than $1.1 million.

There are no 1927-D Saints that are currently PCGS or NGC graded less than -63, and none currently graded -64 or -65. All certified 1927-D Saints are (or were when I last saw them) encapsulated in PCGS holders, one -67, five -66s, and one -63. The reports published by the PCGS and the NGC, and cited elsewhere, are not accurate regarding 1927-D Saints.

As only seven privately owned 1927-D Saints have been seen in decades, the offering of one of them is a major event. It is the rarest date in the most popular series of gold coins.

Source: numismaticnews.net

Mint issues 25-cent coin celebrating Canadian speedskater

2010-01-20T01:18:00.000-08:00

An acclaimed Olympic Canadian speedskater, used to amassing gold, silver and bronze, will now be able to add steel, copper and nickel to her collection.

The Royal Canadian Mint said on Tuesday it was introducing a 25-cent coin to celebrate Winnipeg-native Cindy Klassen's five medals won during the 2006 Winter Olympics in Turin, Italy. The mint said it would be putting up to 22 million quarters featuring Ms. Klassen into circulation. Ms. Klassen won gold, silver and bronze medals at the Turin Games.

The quarters, which are 94% steel, 3.8% copper and 2.2% nickel plating, feature Ms. Klassen in a speedskating pose against the backdrop of a Maple Leaf. The coins also feature her name and the year 2006 along with the logo of the Canadian Olympic Committee on one side.

The mint said three million of the Ms. Klassen quarters will have the Maple Leaf coloured brilliant red.

Source: nationalpost.com

2010 Native American $1 Coin Rolls Available

2010-01-19T06:40:00.000-08:00

The United States Mint will open sales for rolls of 2010 Native American $1 Coins at noon Eastern Time (ET) on January 22, 2010. The 25-coin rolls, priced at $35.95 each, contain circulating quality Native American $1 Coins from the United States Mint facilities at Philadelphia or Denver. The coins are presented in distinctive numismatic packaging bearing the genuine United States Mint logo, the year 2010, the mint mark of origin (”P” or “D”) and the dollar value of its contents.

The theme for the 2010 Native American $1 Coin is “Government-the Great Tree of Peace.” The coin’s reverse (tails side) design features an image of the Hiawatha Belt with five arrows bound together, along with the inscriptions UNITED STATES OF AMERICA, $1, HAUDENOSAUNEE and GREAT LAW OF PEACE. “Haudenosaunee” is also known as the Iroquois Confederacy. The obverse (heads side) design continues to bear the familiar image of Sacagawea, introduced in 2000. The design includes the inscriptions LIBERTY and IN GOD WE TRUST. Like the Presidential $1 Coins, the Native American $1 Coins display the year, mint mark and inscription E PLURIBUS UNUM on the coin’s distinctive edge.

The United States Mint is also offering rolls of 2010 Native American $1 Coins via its Direct Ship Program in quantities of 10 rolls a box priced at $250 per box. There is a limit of 20 boxes per household.

The Native American $1 Coin Act of 2008 (Public Law 110-82) authorizes the United States Mint to mint and issue $1 coins featuring designs celebrating the important contributions of Indian tribes and individual Native Americans to the history and development of the United States.

The United States Mint, created by Congress in 1792, is the Nation’s sole manufacturer of legal tender coinage. Its primary mission is to produce an adequate volume of circulating coinage for the Nation to conduct its trade and commerce. The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

Source: coinlink.com

2009 Silver Eagles Sold Out, Sales of 2009 Gold Eagles Continue

2010-01-19T06:34:00.000-08:00

Late last week, the United States Mint provided updates to its authorized bullion purchasers regarding the status of 2009 American Silver Eagle and 2009 American Gold Eagle bullion coins, and some details related to ordering 2010-dated coins.

Late last year, amidst a resurgence in demand for gold and silver bullion coins, the US Mint announced that they would continue to produce 2009-dated bullion coins until the end of the year. Typically, the US Mint will produce coins bearing the following year's date in the closing months of the year. This enables them to begin accepting orders for the new coins in December for delivery in early January. By producing coins bearing the older date through year end, the time tables were pushed forward.

Until the US Mint could begin accepting orders for the 2010-dated coins, they would continue selling the 2009-dated coins as long as inventory existed. According the recent memo provided to authorized purchasers, the remaining inventory of 2009 Silver Eagle bullion coins was depleted as of January 13, 2010. This means that no silver bullion coins have been available during a brief window of time ending tomorrow. The US Mint will begin accepting orders from authorized purchasers for the 2010 Silver Eagle bullion coins beginning on January 19, 2010.

While the 2009 Silver Eagles are gone, a sizable number of 2009 Gold Eagles remain. As of January 13, 2010, the US Mint had approximately 51,000 of the one ounce gold bullion coins remaining in their inventory. According to the US Mint memo, if an inventory still remains when the US Mint begins accepting orders for 2010 Gold Eagle bullion coins on January 19, authorized purchasers will be required to purchase coins on a 3-to-1 basis. This means that for every three 2010 Gold Eagles ordered, they will be required to purchase one 2009 Gold Eagle. This "3-to-1" basis will remain in effect until the inventory of older coins is depleted.

Source: news.coinupdate.com

US Mint Offers Zachary Taylor Presidential Dollar Coin Cover

2010-01-15T02:41:00.000-08:00

On December 30, 2009, the United States Mint released the final American Presidency Coin Cover for the year. The limited edition cover features the twelfth president Zachary Taylor.

The product includes two Zachary Taylor Presidential Dollars from the first day of production at each US Mint facility. The Philadelphia coin bearing the "P" mint mark was produced on September 9, 2009, and the Denver coin bearing the "D" mint mark was produced on September 10, 2009.

The two coins are mounted on a card and placed within an envelope illustrated with a portrait of Zachary Taylor. The 44-cent Flag postage stamp has the postmark "November 19, 2009, Louisville, KY" representing the first day the coins were released to the public.

The product is priced at $14.95 plus applicable shipping and handling. The overall production is limited to 40,000 units.

Source: coinupdate.com

Heitiki Stars on First New Zealand Coins of 2010

2010-01-14T08:01:00.000-08:00

In January New Zealand Post released details of its first coin issues for 2010: a 1-ounce .999 fine silver proof dollar and a 1-ounce .999 fine gold $10. The reverse of both coins displays a greenstone heitiki, a traditional ornamental neck pendant of the New Zealand Maori.

The precise origins of heitiki are lost in the mists of time. One view holds them to be memorials to ancestors; another, a representation of Hineteiwaiwa, goddess of childbirth. In the latter connection they were sometimes given to a woman by her husband’s family while she was trying to conceive.

The most valuable heitiki are carved from tough, hard greenstone called pounamu, found in New Zealand’s South Island. One of the glories of pounamu is that over time it absorbs a wearer’s body oils and, hence, their essence. Each tiki is extremely personal and must always be given, never fashioned for oneself.

Creating any heitiki by traditional methods, particularly from pounamu, was a long and demanding process. The carver would carry the stone with him and work on it whenever the opportunity arose, abrading it with rocks and smoothing the emerging design with wood and water.

A traditional pounamu heitiki, carved by contemporary Maori artist, Raponi, has been used as the basis of the coins’ reverse design worked by Warren McGrath, Tohunga Whakairo or master carver to the Maori King. On the dollar coin, the tiki is shown in full color.

Both coins are 40 mm in diameter. Both were struck at BH Mayer’s Kunstprageanstalt GmbH. The gold $10 has a mintage of 500 and the silver $14,000.

Each proof comes in a waka huia or treasure box, also designed by Warren McGrath. Such waka huia were used by Maori to hold highly prized personal items such as feathers of the New Zealand huia shown on either side of the heitiki on the coin design.

Source: numismaster.com

Collecting Coins a Collectors Guide

2010-01-14T07:56:00.000-08:00

Coin collecting is something that takes time to learn. The most important thing to remember is that you are doing it for the right reason - if it is a passion, then it is something worth pursuing.

Collecting just for profit may work but it usually is not enough in the long run. A person really has to think about this since many people who have tried it for that reason have lost focus and failed.

Successful coin collectors take a lot of time to learn everything there is to know about numismatics. Good sources of information are magazines, newsletters and brokers who can pass on information and news, when it happens. By using the resources a person can act fast before other collectors who want the same thing get the information first.

If a person tries to collect without knowing the basics, he will never succeed in this hobby.

Knowing how to grade coins can also help the collector know the true value of the collection. This knowledge will be valuable if the owner decides to trade for something of greater value or it can prevent scamming and wasting money for something of little value. Be vigilant!

One of the virtues that coin collecting can teach a person is patience since the collection may take years to complete. Some of the well-renowned collectors in the world have spent many years before reaping the benefits.

Learning to think like a collector is very important. Being too eager is not good because the collector could be tempted to purchase or trade the wrong coin which could prove to be costly. Think twice about using the information given even if that came from a reliable source.

Coin collecting can be difficult especially if the person is just starting. A person, more than likely, cant afford to buy items worth more than $10,000, so it is best to start small and study the market for three to six months so that he can be comfortable before going after bigger prizes.

Coin collecting is similar to sports - it takes time to excel at it and goals, both short and long term, have to be established. By following the rules and using common sense, the person can become one of many other successful coin collectors.

Commemorative coins have become very popular. Many people want to have different kinds of coins in their collections or for souvenirs. Many times they are used as traditional gifts for special occasions. These coins are not considered to be practical gifts, bur are commemorative items that can be kept for years as special souvenirs when received by a special friend or loved one.

There is a strong demand for these coins among people who are collectors as they may have significant meaning to them. Others will want them to remember an important day or occasion. The mint date and the event celebrated by the coin could be one factor people consider them collectible items.

Since the 1970s, the individual coins were available in the market every year, but are now available as sets in packages or in special displays. Many collectors say that one reason they are marketed this way was the depreciation of their value starting in 1971. The introduction of the euro may also be a factor.

There are countries that have produce commemorative coins and used these coins for propaganda. There were monarchs who issued coins to commemorate past or current events and/or celebrations that recognized their authority.

The half dollar was produced in 1892 to commemorate the Columbian Exposition in Chicago. This was a celebration to mark the 400th anniversary of the expedition of Christopher Columbus and his discoveries in the world.

During the following year, the first quarter dollar commemorative was introduced to signify the Exposition as well, but it also gave honor to queen Isabella of Spain. She was the one who back-pedaled the political agendas on Women Rights.

The first commemorative coins that were made of silver were introduced in the 1900s. The coins were minted in honor of Lafayette and George Washington. In the following years, the half dollar coin was denominated, and the legal tender commemorative coins were created to mark celebrations rather than historical events. These coins are recognized today as classical sets of special coins of historical events between the years1892 - 1954.

It was in 1932 that the Washington quarter dollar was released as the United States second commemorative coin in its denomination. It was issued for the 200th birth anniversary of George Washington. The coin also continues its circulation as a commemorative coin because of its popularity.

It was uncharacteristic to circulate a commemorative coin of the 1892 - 1954 era in the United States because the government had not intentionally put them into circulation, (they were not legally approved by the government for public use) so collectors will not pay the premium costs of these coins that are still in the market.

In 1975, that the Bicentennial quarter was introduced. It became the second circulating commemorative coin in the country, while the silver dollars and half dollars (1776 to 1976) were reissued as a special collectors edition.

Many collectors have different agendas when collecting these coins. Some prefer commemorative coins from 1892 - 1954 while most collectors choose the modern editions. They know that these coins have different values depending on the series and/or editions.

Although there have been different series released, a proposal was submitted to congress that would mark the Lincoln cent for his birth anniversary. No one knows whether or not the 1-cent denomination commemorative coin will be minted.

The confusing part of these commemoratives that are circulating is the pattern of the denomination. The 1776-1976 commemoratives half-dollar and silver dollar may not be included in collections because of their scarcity. Most of the coins that are circulating are the quarter dollar coins. It should be an interesting development for the proposed circulation of the one cent commemorative coin.

Some people are born to love money; whether they spend it or just collect it, they are simply born to love the way money provides them the kind of gratification that they need.

For example those people who are coin collectors simply love the sight of coins and many wish to display their collections as art.

In the United States, coin collecting started as early as 1652. During this period, business people and individuals alike, were known to engrave and distribute their personal coins.

Some people are so interested in coin collecting that they are more willing to combine various forms and categories. The reason for this fascination for these coins is the very nature of U.S. coins.

The U.S. Mint carefully crafts U.S coins and over the past 30 years it has minted nearly 300 billion coins.

When the Articles of Confederation gave consent for the different states to create or manufacture their own coins, the U.S. coin collections grew at an unparalleled rate. That is why in the middle of 1780's, states like Connecticut, Vermont, New Jersey, New York, and Massachusetts started creating various coins unique to their states. This prompted the start of "rare coin collection."

To know more about U.S. coin collecting, here are some of the basic facts that you must know:

1. It was on 1787 that the primary "federally" approved coin of the U.S. was first made. It was in New Haven, Connecticut where the "Fugio Cent," the name of the coin, was secretly manufactured.

2. The U.S. Mint is responsible for manufacturing the U.S. coins. The agency uses bands of metal that are rolled into loops, with the right breadth and measurements. Each kind of coin uses a particular kind of metal. For instance, metal strips that are made of zinc are used to manufacture pennies, while nickels are made of a 25% "nickel metal alloy" and 75% copper.

For this reason, U.S. coin collecting is further subdivided into categories such as the U.S cent, U.S. nickel, U.S. dime, etc.

People who would like to start collecting U.S. coins, should learn the intricacies or the hobby and find ways to acquire their first coins.

The hobby of U.S. coin collecting is not just a wonderful hobby but also a great way to preserve the nation's culture and history.

Source: coin-articles.com

Taiwan Has 'Feudal Attitude' Toward Coin Proposal

2010-01-13T21:10:00.000-08:00

The ruling Kuomintang on the Chinese island of Taiwan is taking a conservative and feudal attitude toward a proposed new coin, according to the grandson of the local hero whose portrait has been promised to appear on a coin. Democracy activist Chiang Wei-shui died of typhoid in 1931 at age 40. Chiang had been imprisoned several times during the Japanese rule of Taiwan, and founded the island’s first legal political party. The highway between Taipei and Su’ao in Ilan County is named for Chiang, not to be confused with the late Taiwan President Chiang Kai-shek. Taiwan’s current president, Ma Ying-jeou, made a promise more than a year ago to place the effigy of the late political organizer on a coin, however to date nothing has happened. Perhaps in some countries this might be a trivial matter, but it isn’t on Taiwan courtesy of Chiang’s grandson Chiang Chao-ken and other relatives. In fact, the proposal was taken seriously enough that there is an agreement between the current Taiwan president and the family regarding the proposed coin. Liberty Times newspaper reported on Dec. 14 that the lack of news regarding the promise Ma made about the coin made the grandson feel like he was receiving no respect. The grandson told Liberty Times the promised coins would be a symbol of Taiwanese history. The newspaper added that “Academics also approved the proposal because it would show the KMT strengthening the local aspect of its identity.” The Dec. 14 Taiwan News reported, “The presidential office said Monday the president had not reneged on his promise, but the Central Bank would introduce the coin at an opportune time according to its rules.” The situation is not being taken lightly by the president. Presidential Department of Public Affairs Director Chang Kuo-pao told Taiwan News that Ma wrote a letter to Chiang’s descendants to ask for their consent to issue commemorative coins in their ancestor’s honor. Chang told the newspaper the central bank would seek advice before deciding when to issue the coin, but he didn’t know when that would be. Taiwan News continued, “During a discussion with Central Bank Governor Perng Fai-nan after his election in March last year, Ma said it would be better to issue commemorative coins with effigies of Taiwanese historical figures rather than of the new president.” According to Liberty News, there is no tradition of depicting historic figures on commemorative coins, but the bank would consider honoring Chiang on a 10-yuan coin (The bank did not specify if the 10 yuan would be a commemorative or not.). Taiwan currently uses a decimal currency system based on the “new Taiwan dollar” or yuan. Circulation coins are issued in denominations of half yuan depicting a mei blossom on the obverse and the denomination on the reverse; 1, 5, and 10 yuan each depicting Chiang Kai-shek on the obverse and the denomination on the reverse; a 20 yuan depicting Mona Rudao on the obverse and traditional canoes used by the Tao people on the reverse; and a 50 yuan depicting Sun Yat-sen on the obverse with latent images of the denomination numeral in both Chinese and Arabic numerals on the reverse.

Source: numismaster.com

Vatican Issues Sede Vacante Euro Coins

2010-01-13T01:11:00.000-08:00

Vatican City has issued Sede Vacante or “vacant seat” coins between the death of one pope and the election of his successor since 1370. Since these coins are issued in limited numbers for only a short period of time collectors have always had an interest in them. Since Vatican City changed from lira denominated coins to the euro there has been even keener interest in all Vatican City coinage among collectors of European Union euro coinage. Vatican City is one of three city-states (The other two are Monaco and San Marino.) that had previously tied its coinage to that of an EU member (France for Monaco, and Italy for San Marino and Vatican City), then adopted the euro at the same time its host country joined the EU currency union. Each of these three city-states issues very limited numbers of euro coins annually, making all their euro coins desirable to collectors. Vatican City Sede Vacante euro coins were issued in the interim period between the death of Pope John Paul II on April 2, 2005 and the election of Pope Benedict XVI on April 19, 2005. During this period the emblem of the Apostolic Chamber and the heraldry of the cardinal chamberlain, who is the camerlengo or acting head of state, appear on the coins rather than a depiction of the current pope. This was the first Sede Vacante euro coinage and as such it was suggested by the European Commission to be an excuse for the Vatican to make a quick profit from their sale. The EU didn’t appear to object to the profit motive as much as it objected to the concept these were coins – yes, but were they money – no. Virtually none of the Sede Vacante euro coins circulated. All were quickly sold as sets to collectors. Some of these sets have reportedly sold later in the secondary markets for about $600 per set. According to one recent report, less than one percent of all euro coinage is sold above its face value in collector coin sets. Under the current agreement between the Vatican and the EU the Vatican can issue a maximum of 1.074 million euro-denominated coins per year. Earlier in 2009 the European Commission noted the Vatican “issues virtually all its circulation coins in collectors’ sets.” The EC has since asked the European Central Bank for advice regarding renegotiating the agreement between the EU and the Vatican. According to a Dec. 1 Reuters news service report the ECB stated, “Ëuro circulation coins are primarily a payment instrument: they should circulate freely in the market and be used for payments. Circulation coins absorbed by coin collectors do not serve their original purpose but are exclusively used as collectors’ items,” adding that the EC “recently released its recommendation saying the Vatican should circulate at least 51 percent of the coins it issues and suggests a joint committee to ensure this and other agreements between Brussels and the Holy See are actually implemented.” According to the Reuters report, “The commission report … suggests the Vatican’s quota for issuing coins annually could be almost double to 2,100,000 euros. If that happens it [Vatican City] could continue to issue almost as many collectors’ sets and still circulate over a million euros in coins. Tourists might even get some in change at the [Vatican City] souvenir shop.” The same commission report indicates the Vatican will be able to issue Sede Vacante coins in the future, coins that Reuters described as “instant rarities.” In one sense all Vatican euro coins are instant rarities. A complete set for any year has a face value of 3.88 euro, but sell as a set in the souvenir shop on the far side of St. Peter’s Square for 30 euro per set or about $45. In the secondary collector market some of these sets have been offered recently on the Internet for as much as 100 euros.

Source: numismaster.com

Former archbishop's treasures found in river

2009-10-28T02:27:00.000-07:00

A fresh mystery is gripping Britain's religious community: Just how did a treasure trove of rare medallions and coins collected by a former archbishop of Canterbury end up at the bottom of the River Wear?

The coins, medals, goblets and other religious items were found over the last few years by two divers, Gary and Trevor Bankhead, in the frigid, murky river waters that loop around Durham Cathedral, a Norman-style classic.

Research shows many of the artifacts are linked to the late Michael Ramsey, a former archbishop of Canterbury with longtime ties to Durham, a city 280 miles (450 kilometers) north of London where he served as bishop and spent some of his retirement years before his death in 1988.

The find was revealed Friday by cathedral officials — who believe the items may have been robbed from Ramsey — and by the Bankhead brothers, two intrepid amateur divers who collected the unusual items during a series of dives over the last three years.

A statement posted on the cathedral's Web site indicated that the brothers had found some 300 artifacts, including some of archaeological significance.

"Some of the artifacts appear to have close links to Archbishop Michael Ramsey, who retired to Durham in 1974," the statement read. "These include medals and medallions presented to him during his work and travels as archbishop of Canterbury. There is a silver trowel presented to the archbishop on the occasion of his laying of the foundation stone for a new church in India. Other items include a copper and enamel icon."

In addition, a gold coin apparently given to Ramsey by a Japanese Buddhist leader was found, along with a Russian icon, and precious medals that may have been given to Ramsey when he met Pope Paul VI in Rome in 1966.

Ramsey was archbishop of Canterbury from 1961 to 1974, and met many senior religious figures and world leaders during that time.

Cathedral officials believe the items may have been stolen from Ramsey after he retired to Durham.

"It is not known how these particular artifacts came to be in the river," the statement asserts. "There has been speculation for some time that the archbishop was victim of a burglary and this would seem to confirm it."

But Gary Bankhead does not believe a robbery was involved. Based on the location of the finds, he has concluded that Ramsey himself probably dropped the items into the river.

He thinks some of them were dropped from Prebends Bridge, a popular site near the retirement apartment where Ramsey lived with his wife in their latter years, as a slightly bizarre offering to the people of Durham.

"He was linked to the city since the early 1940s, and it's my belief that he did this as a votive offering to the river and to the people of Durham, who he loved," said Bankhead, who believes the goods may be worth about 25,000 pounds ($41,000).

This unusual interpretation is supported by a friend of Ramsey's who told British newspapers that it is consistent with Ramsey's character that he would have thrown the items in the river.

But cathedral officials say it is much more likely that a burglar, not Ramsey, put the artifacts in the river.

"It is highly unlikely that valuable items would have been dropped in by anyone who wasn't making mischief," said Philip Davies, chapter clerk at the cathedral.

Bankhead said the items were found in six locations, including four close to the bridge. He said tests suggest that items thrown from the bridge would have been found close to the actual locations. He said the dives were hazardous because of the extremely cold water and the poor visibility, often limited to about three feet (1 meter).

Bankhead said it also is possible that Ramsey threw the items into the waters because of his Christian belief that a person enters the world with nothing and leaves it with nothing.

"In the last years of his life, he got rid of all of his finds, for that reason," Bankhead said.

He said the items were found on the river bottom, which is littered with sharp pieces of broken glass that regularly pierced the neoprene gloves he and his brother wore for protection.

The fate of the artifacts is not yet clear. The cathedral's Web site indicates that at least some of the collection will soon be put on public display at the cathedral, which draws visitors from throughout the world.

"It is hoped that many of them will be displayed next year when a new window dedicated to Michael Ramsey is installed in the Cathedral," the statement reads.

Bankhead said he and his brother are entitled to a 50-50 split on the value of the finds under the terms of a licensing agreement signed with Cathedral officials. He said he hopes church archives will better establish the origin of some of the coins, which may increase their value.

"A gold coin given by the pope to the archbishop of Canterbury is more valuable than just a gold coin," he said hopefully.

Source: google.com

The Brackley Hoard Of Silver Groats Coins to be Sold

2009-10-23T03:33:00.000-07:00

In the summer of 1465, as the Wars of the Roses raged, an unknown person hid his worldly wealth in a secret location in a Northamptonshire field and went into hiding. He never returned to claim his money.

In 2005 – 540 years later – a metal detectorist stumbled across the hoard of 324 silver coins and alerted the authorities. The British Museum, where the coins were researched and identified as silver groats, purchased 14 of them to be put on show to the public, while the remainder were returned to the metal detectorist who unearthed them and the land-owner on whose land they were found.

The two men have decided to keep 12 coins apiece as mementos, while the remainder will be sold by specialist London auctioneers Morton & Eden on Wednesday, December 2. The 186 coins, which were found in the Brackley area of Northamptonshire, are expected to raise a total of around £30,000, the money to be split equally between them.

After asking permission from the landowner to search the field, the detectorist was thrilled to find five coins on his very first attempt. “I was amazed,” the man said. “They were lying there about a foot below the surface. I couldn’t believe my eyes but I was convinced there were more, so I went back the next day and discovered the rest. There was no sign of a container, so I assume the coins were hidden originally in a cloth bag which obviously had rotted away over the centuries.”

The coins date mostly from the reigns of Henry V (1413-22) and Henry VI (1422-60). They are all silver groats (fourpenny pieces) and are relatively free from corrosion, although clearly, they had been in circulation for some time before they were hidden and had thus received some wear.

Said auctioneer Jeremy Cheek: “When they were in circulation, a silver groat would have been enough to buy a sheep. Thus, the hoard represents the value of a flock of a sheep, perhaps a man’s main asset. As there are no gold coins in the hoard, it does not appear to have been the property of a particularly wealthy person. The gold coin of the time, known as a noble, was worth 6s 8d (1/3 of a pound) which would have represented a lot of wealth for a poor person to hold in one coin. A new type of gold coin, the ‘ryal’ or ‘rose noble’ valued at 10s (1/2 of a pound), was introduced the same year the hoard was deposited. The hoard included two contemporary Scottish groats.”

The groat was the largest silver coin of the time and might be equated to something like a modern £20 note. The hoard, with a face value of £5 7s 4d, is roughly equivalent to £6,500 today. None of the smaller silver coins current at the time was included. “The hoard was clearly a deliberate attempt to conceal a sizeable stash of money,” Jeremy Cheek added.

The exact location of the hoard is being kept secret to protect the site. However it is understood to be very near to the site of a medieval village which has since disappeared. This was common in medieval times – there are around 3,000 deserted medieval villages (DMVs) in England, including around 100 in Northants, abandoned for various reasons such as the Great Plague, flooding, the Enclosure Act and rivers changing their course. This accounts for the sight of some substantial churches standing alone in a field far apart from any other habitation.

The hoard, which is expected to arouse a great deal of excitement among coin collectors and dealers, will be offered as part of a sale of Ancient, Islamic, British and World Coins, to be held at Sotheby’s, with whom Morton & Eden have an association
Source: coinlink.com

Second ‘2’ in date key to authenticating 1922 Plain cent

2009-10-22T02:52:00.000-07:00

I recently attended the Illinois Numismatic Association 50th anniversary show near Chicago. I wish I could have gotten away from the ICG table long enough to search for variety coins as this was truly a great “collectors” show.

During the three-day event I was asked to grade and authenticate many more 1922 Plain cents than I normally see at shows. In each case, I explained the nuances of these coins to their owners. Perhaps readers will also appreciate some insight into this variety.

Although Bert Harsche and especially Al Craig had done some pioneering research into authenticating 1922 Plain cents, as best as I can remember, confusion ruled in the marketplace. Practically any 1922 cent without a strong “D” mintmark could be found in a 2x2 holder labeled as a “1922 Plain” or “No D ” specimen and that included many altered coins with removed mintmarks!

When I joined ANACS in 1972, we used the diagnostics found in Bert Harsche’s book Detecting Altered Coins to authenticate this variety. They included a strong “T” in “Trust,” a weak “R” in “Liberty” and a flat tail 2 in the date. On many of the coins we certified, there was still a trace of the mintmark visible as a “shadow-like” blob under the date.

Eventually, I noticed that coins with no trace of a mintmark had a thin, wormy, curved top on the second 2 of the date. It was an entirely different shape from that of the first 2. This became ANACS’s prime criteria for authenticating 1922 Plain cents. We paid no attention to the strength of the reverse strike; however, some coins came with a broken reverse die. The major break runs from the rim, through the “L” in “Pluribus” and into the “O” of “One.” The crack is straight on some coins and shifts inside the “O” on others. We found that coins with the shifted crack reverse could be found with and without a trace of a “D” mintmark.

In the marketplace during this time, the “Very Weak D” coins were still accepted by many as the desirable 1922 Plain variety. In fact, ANACS had authenticated a number of these cents previously due to the fact that the mintmark was hardly visible.

Then Charlie Hoskins and I got tired of playing God at ANACS. We determined that only the coins with the “wormy 2” and a strongly defined reverse appeared without a trace of the mintmark. These coins would be the only ones we would certify as 1922 Plain cents. Coins with a weak reverse, very weak shadow mintmarks, or offset die breaks were certified as “Weak D” or “Very Weak D” cents depending on how closely the “blob” under the date resembled a “D” mintmark. It appeared that the confusion would finally be over.

Not so. In the mid-1970s, ANACS was moved to ANA headquarters in Colorado Springs. Only one rookie trainee from the original staff went along to join a new group of employees.
Unfortunately, the new group had to go through the entire learning curve again while trying to sort out the confusion caused by the different die states and die combinations of the 1922 cents. Once again, the ANACSs criteria changed as it needed to determine when a “Very Weak D” cent became the “Plain” or “No D” variety.

Let me quote from a 1982 ANACS article to give you a feel for what the new authenticators in Colorado Springs had to go through as the mintmark disappeared and then reappeared again later on some of the dies. I quote: “The 1922 ‘No D’ cent presents an unusual challenge because its authentication requires that a subjective judgment be made.” We had found out years earlier that subjective judgments didn’t work in this particular case.

Ultimately, this situation had a very happy ending. Around 1984, ANACS followed our lead (Charlie and I were now at the INS Authentication Bureau in Washington, D.C.) and also stopped playing God with these coins. ANACS published another article in The Numismatist magazine that modified Craig’s original research and became the definitive study on the 1922 Plain die varieties. This article can be found in Counterfeit Detection a reprint from The Numismatist Volume II available from the ANA library. I would be repeating much of what has been previously published on this subject here so if you wish a copy of this study, send a self-addressed, stamped envelope to me care of ICG, P.O. Box 27600, Tampa, FL 33688.

In brief, some 1922-D dies became filled, preventing planchet metal from flowing into the mintmark cavity. These dies produced coins with various degrees of the mintmark visible. On another die pair, the obverse was heavily polished obliterating the mintmark cavity and changing the shape of the second 2 of the date. Even Lincoln’s coat was weakened as the dies were polished. This obverse die is paired with a fully detailed “strong” reverse and is accepted as the only “true” 1922 Plain variety today.

If you are looking for one of these coins, make sure it has a strong reverse and the distinct digit 2 that I have illustrated here. Otherwise, there is a chance the mintmark has been removed from a 1922-D or you have one of the less important varieties. Even better, have any of these coins checked for authenticy at a major grading service.
Source: numismaticnews.net

FOCUS-Gold coins, bars set to outshine Indian jewellery

2009-10-21T04:24:00.000-07:00

Gold investors in India, the world's largest consumer, are likely to outstrip jewellery buyers in 2-3 years with the economy on the rebound and buyers seeking new ways to protect their investments from pilferage.

"The signs of heavy increase in investment demand are visible and may outperform jewellery demand in 2-3 years" said Anjani Sinha, president of Indian Bullion Market Association (IBMA), which represents about 10,000 jewellers across the country.

"We may see 20-30 percent rise in investment demand driven by the new class of investors. Even during this festive season, demand for coins was more compared to jewellery, strengthening the trend."

India just finished its peak festive season that starts in August and ends in October.

IBMA said it has sold 7,000 coins of 8 grams each since August and hopes to target 100,000 coins within one year.

India has traditionally been a jewellery-devouring country, with the important part gold jewellery plays in marriages and other family celebrations.

But the trend started to change in 2003, when gold coins and bars were allowed to be sold by licensed banks and some traders. In 2007, investment demand jumped 11 percent to 215.4 tonnes.

Even in 2008, when Indian imports fell 7 percent to 712.6 tonnes at the onset of a global economic slowdown and high prices, investment stayed steady at 2007 levels.

In 2008, jewellery consumption was 501.6 tonnes, while investment demand was 211 tonnes. In the first-half of 2009, when the economic downturn peaked, demand fell 55 percent to 126.7 tonnes, the worst since 1997, World Gold Council data showed.

Currently, gold jewellery accounts for 70 percent of India's total annual consumption.

SURGE IN THE OFFING

Industry players say the consumption in the form of investments is likely to surge from here on as the economic recovery gathers strength.

Former central bank governor C. Rangarajan, who heads the government panel that advises the prime minister, said growth in the fiscal year that ends in March 2011 would accelerate to 7 to 8 percent after growing by about 6.5 percent in 2009/10. See [ID:nHKG376802]

Gold coins and bars are an attractive investment option, unlike jewellery, which involves making charges and wastage.

"Gold coins and bars have more convenient usage, may be in the form of investment, or deferred consumption or for gifts," said Nayan Pansare, an independent consultant to jewellers.

"Definitely, investment demand is likely to surge as more and more people are looking to gold as an investment rather than as a fashion statement," said Rajesh Khosla, managing director, MMTC PAMP Pvt Ltd, a gold coins refiner.

MMTC PAMP, a joint venture between the state-owned MMTC and Swiss-based gold refiner, hopes to start its refinery in the northern Indian state of Haryana in the second-half of 2010 and expects to produce 100 tonnes of gold coins in 2010
Source: in.reuters.com

China Battles Domestic Counterfeiters

2009-10-20T03:20:00.000-07:00

The Peoples’ Republic of China has been in the numismatic hobby news in recent months due to coin replicas originating from China that are being sold elsewhere in the world as genuine coins. This includes coins of Canada, Russia and the United States.

Since the Hobby Protection Act in the United States is unenforceable outside U.S. borders, this lack of enforcement overseas almost invites the export of replica coins to places where the replica coins can be sold by third parties to unsuspecting collectors as being genuine. In an article appearing in this column last month coin collector Mike Marshall of Trenton, Ontario, was acknowledged as saying there are six companies in China that make replica coins. The Chinese replica products are produced and sold legitimately – in China.

Well, it appears China may be having problems of its own regarding locally produced counterfeit or replica coins. In fact, since China has been one of several countries that in recent years has suffered from a shortage of circulating coinage it appears at least one enterprising organization working outside the government has decided to take advantage of the shortage by making its own coins.

According to the Aug. 6 Guangzhou Daily newspaper, police in Foshan in south China’s Guangdong province arrested seven people a day earlier, seizing more than 220,000 counterfeit 1-yuan coins reported to weigh a total of about 1.5 tons.

The 1-yuan denomination, which is the workhorse coin of the Chinese economy, is a nickel-plated steel coin with a diameter of 24.9 millimeters. The obverse depicts the denomination and date, while a chrysanthemum appears on the reverse. The lettered edge repeats RMB three times.

RMB is an abbreviation for renmimbi or “people’s currency,” which is issued exclusively by the People’s Bank of China. The official abbreviation is CNY, but it does not appear on circulating coinage.

According to the Guangzhou Daily newspaper article, “A woman named Liu and her driver were stopped by police when they were seen behaving suspiciously around a Foshan bus station on June 26. The police then seized 18,000 counterfeit 1-yuan coins at the scene and captured a buyer with 1,100 such counterfeit coins. Following the seizure, the police raided Liu’s home in Guangzhou and found 200,000 more counterfeit 1-yuan coins wrapped in packages.”

The newspaper reported the fake coins originated in Loudi in Hunan province (central China). The counterfeiting operation does not appear to be an isolated incident. According to the newspaper, more than 20 people possessing 1.17 million counterfeit 1-yuan coins were arrested in Loudi in July. In addition “five fake coin plants” were raided in Loudi.

This isn’t the only recent incident suggesting China is having internal problems with counterfeit coins. The Aug. 10 issue of the publication China View reported, “China’s Public Security Ministry Monday warned the public to beware of fake commemorative coins purportedly issued to commemorate the 60th anniversary of the People’s Republic of China.”

Specifically, a set of 100- and 150-yuan gold coins and four 10-yuan .999 fine silver coins being advertised as having been issued by the People’s Bank of China and distributed by China Gold Coin Inc. are fakes since neither organization has issued any such coins.

China View reported the unauthorized commemorative coins being sold for 550 yuan or $80 US on the Web site www.taobao.com originating in Hebei Province.

Sounding very much like what you might expect to hear from the U.S. government if a similar situation happened in the United States the Chinese ministry warned, “Precious metal commemorative coins should only be purchased through formal channels.”
Source: numismaster.com

1,000 rare, valuable coins stolen in Montville

2009-10-14T02:51:00.000-07:00

Rare coins estimated to be worth millions of dollars were stolen from the car of a renowned Maryland dealer when he stopped in Pine Brook for dinner on his way home from a coin show.
Julian Leidman left the Coinfest coin show in Stamford, Conn., late Sunday with his wife and traveled to his brother-in-law's home in Pine Brook, where they stopped for dinner at Tiffany's on Route 46.

After more than an hour, Leidman said, the group left the restaurant to find a "terrible" sight: Glass littered the ground around his 2009 Toyota Sienna, which he had strategically parked in front of the restaurant so he could keep an eye on the driver's side and rear, he said. The passenger-side window had been smashed and four bags, three of which were heavier than 50 pounds, were missing from the cargo hold.

Gone were the contents of two of the bags -- a cache of valuable coins and collectible currency that Leidman, 63, of Silver Spring, Md., had displayed at the show.

The inventory included individual pieces valued as high as $160,000, as well as many extremely rare and unusual coins and currency dating to the Colonial era, he said.

"It was a huge amount, seven figures," Leidman said, enumerating the loss. "This is the worst thing that has ever happened to me."

Montville Police on Tuesday declined to release details of the burglary, citing the ongoing investigation.

But coin dealers nationwide are rallying around Leidman -- who is regarded as one of the most prominent and ethical dealers in the United States -- and have offered a cash award leading to the arrest and conviction of those responsible for the robbery.

Jon Lerner and Laura Sperber, co-organizers of the Coinfest show at the Stamford Hilton, put up $2,500 toward the reward on Monday, and 20 other coin dealers immediately followed suit, Lerner said.

Word quickly spread among the collector and dealer community and, by Tuesday afternoon, the total reward stood at $75,000, Lerner said. The goal is to reach $100,000 by the end of the week, he said.

"All of the dealers were very saddened and upset by it," said Lerner, of Westchester, N.Y. "Julian is a very well-known and respected dealer, and that's what makes it very hard."

A dealer and consultant for more than 40 years, Leidman has handled some of the most valuable American coins, according to the American Numismatic Association, which named him its Coin Dealer of the Year for 2009.

Requests to help Leidman have come in from across the country, and collectors and dealers have received a list of the coins taken, Lerner said. The hope is that some of the stolen inventory may surface at the next large coin show this weekend in St. Louis, he said.

"We're hoping whoever took the coins will try to sell them or have information on them," Lerner said. "It's tragic, not just the monetary value, but the value in terms of history and what's lost to the collecting community. Some of these items are just unique items that cannot be replaced."

Leidman said his collection was insured, but is working with his insurance company to determine what his policy covers. He believes he may have been targeted during Coinfest.

"I was one of the last people to leave the show, and there were a couple of women around -- one of which had been by my table a few times," he said. "When I left, she was sitting out at the reception area of the hotel and she was on her cell phone, and my wife said, 'The lady just said, 'They're on their way out.'"

But Lerner said the show's security consists of both armed and undercover guards who provide escorts to dealers and collectors with valuables. The third annual Coinfest show, billed as the largest show in the New York metropolitan area, drew about 150 dealers to the Connecticut hotel and thousands of collectors.

"We don't really know if he was targeted or if it was random," Lerner said. "It shows the dealers that we do have to remain very vigilant at all times."
Source: dailyrecord.com

Mint to make Olympic coin

2009-10-13T09:03:00.000-07:00

THE Royal Mint will soon be producing the first UK coin ever designed by a child.

Nine-year-old Florence Jackson beat more than 17,000 other youngsters to win the once-in-a-lifetime opportunity to have the Mint, in Llantrisant, produce her 50p coin.

The winning design will celebrate London 2012 and will be officially announced today at the end of a CBBC Blue Peter competition. The winning design depicts the high-jump, celebrating the Olympic and Paralympic sport of athletics, and is available to buy now as a limited edition commemorative coin from www.royalmint.com.

The design will be found on millions of 50 pence coins in people’s change next year.

“I am so excited. It was a real surprise to win,” said Florence, from Bristol. “It was amazing to visit the Royal Mint and see my picture turned into a coin. I can’t wait to see it in my pocket money.”

Florence’s winning design is the first in a series of 29 officially licensed London 2012, 50p designs by the nation that will act as lasting mementoes of the 2012 Olympic and Paralympic Games.

The remaining 28 designs will be revealed from 2010, the result of the Royal Mint’s biggest ever competition for the public to design the UK’s coinage. Each coin will depict a different Olympic or Paralympic sport.

Source: walesonline.co.uk

Four Gorny & Mosch Sales Begin Oct. 12

2009-10-12T08:25:00.000-07:00

The first of four Gorny & Mosch sales begin Oct. 12. In the course of one week 5,500 lots with a total estimate of 3.2 million euros will be sold.

The program is divided into “High-quality ancient coins”, “Ancient coins and lots”, “Medieval and world coins” and “Russia.” All four catalogs can be viewed at www.gmcoinart.de and can be purchased for 15 euros at Gorny & Mosch, Giessener Münzhandlung GmbH, Maximiliansplatz 20, D-80333 Munich; email: info@gmcoinart.de.

In Sale 180 there are 520 lots of selected ancient coins with a total estimate of 870,000 euros. Seven Celtic pieces are followed by roughly 250 Greek ones. Included are the incuse stater from Caulonia with the elegant figure of Apollo on its obverse and reverse (EF; 7,500 euros), the small series from Leontinoi including an extremely fine specimen of those tetradrachms usually attributed to the “Demareteion Master” (7,500 euros) and the Classical tetradrachm from Naxos with the beautiful Dionysos and the drunken Silenus (VF; 20,000 euros).

Sale 181 features ancient coins and lots. Approximately 2.000 lots with a total estimate of almost 600.000 euros are on offer featuring 46 Celtic, 568 Greek, 276 Roman Provincial, 122 Republican, 557 Roman Imperial and 226 Byzantine coins.

The Byzantine section will draw special interest, as the expert will find there a wide range of Byzantine bronze coins.

Sale 182 of Medieval and modern coins features 2.000 lots with a total estimate of 800,000 euros come from all five continents. The sale starts with almost 30 medieval pieces. The German section follows. Orders and decorations featuring Turkish cap badges with more than 200 lots, which is a special part of the Dogan collection sold by Gorny & Mosch in October 2008, lead over to the Austrian-Hungarian section containing about 180 lots.

World coins and medals from all five continents follow including big series of modern gold coins and coins commemorating the Olympic games. Europe has to offer a number of classic rarities as well, for example a small series of siege coins produced in 1592 during the fight over the bishopric of Strasbourg.

Sale 183 ends the week with a selection of Russian coins. There is a high number of rarities included in the approximately 1,700 lots with a total estimate of 950,000 euros. Among them is a 5 ruble piece of Catherine II struck in Moscow in 1763 (EF-BU; 75,000 euros) and a gold medal of Paul I (1796-1801) dedicated to princes, khans and voivodes of merit for the tsar (VF+; 90,000 euros).

The collection of the Norwegian Tom Willy Bakken, which will be sold at Gorny & Mosch’s in cooperation with Oslo Mynthandel, may be called a collector’s great dream. Bakken started to collect Russian copper coins in the early 1980s. In those times, it was easy to buy these pieces for little money – nobody was really interested in them. Hence, the collector had the opportunity to compile a unique series of all denominations, which were given out in Russia between 1700 and 1917. Almost 1.000 pieces are on offer at this sale featuring all types. The states of conservation range from fine to brilliant uncirculated, the estimates from 10 euros to 25,000.
Source: numismaster.com

US Mint to sell platinum coins before end of 2009

2009-10-08T04:19:00.000-07:00

Platinum coins produced by the US Mint will go on sale before the end of the year, it was confirmed .

The agency revealed that unprecedented demand has encouraged it to offer one-ounce American Eagle Platinum Proof Coins for purchase, provisionally from 3rd December.

In addition, the mint intends to release the one-ounce 2009 American Buffalo Gold Bullion Coin on 15th October and the one-ounce American Buffalo Proof Gold Coin on 29th October.

The half-ounce, quarter-ounce and one-tenth-ounce versions of the fractional 2009 American Eagle Gold Bullion Coin are also set to be released on the same day as the platinum-based offering.

However, the mint revealed that a number of its products - including all weights of the American Eagle Platinum Bullion Coin - will not be up for sale in the remainder of 2009.

"The US Mint is working diligently with current and potential blank suppliers to increase the supply of bullion coin blanks, so it can offer to the public the proof and uncirculated versions of American Eagle silver, gold, and platinum coins in 2010," read a statement.

Created by Congress through the Coinage Act in 1792, the US Mint was placed under the auspices of the country's treasury in 1981.
Source: platinum.matthey.com

Mint of Finland Launches Series

2009-10-05T21:18:00.000-07:00

The Mint of Finland Ltd. has launched a series titled “Ethical Collector Coins” with the Aug. 20 issue of a silver coin depicting the theme “Peace and Security.”

At the series launch ceremony, Finland President Martti Ahtisaari carried out the new coin’s first strike. This is the first time in Finland’s history that a silver collector coin with a nominal value of 20 euros has been issued.

Themes for each coin in the series are chosen by the Collector Coin Committee set by the Finnish Ministry of Finance. The Peace and Security coin was designed by sculptor Tapio Kettunen, whose proposal won the public design competition. A record number of 72 proposals were entered.

President Ahtisaari signed the certificate of authenticity that includes a quote from the speech he gave at the Oslo Nobel Peace Prize ceremony: “Peace is a matter of will.”

The coin is 38.61 mm in diameter, weighs 33.62 grams and has a mintage maximum of 15,000.
Source: numismaster.com

Forfeiture of 1933 Gold $20s Sought

2009-10-02T02:42:00.000-07:00

Trying a new tack, the U.S. government has brought a civil forfeiture suit seeking title to 10 1933 $20 gold pieces from the estate of Israel Switt, the Philadelphia jeweler and part-time coin dealer to whom all known specimens of the coin previously seized by the government in the 1940s were tied by pedigree.

Pursuit of the 10 coins in this manner by the government was required after a July 28 ruling by Philadelphia U.S. District Court Judge Legrome Davis in which the descendants of Switt, his daughter Joan Langbord and her two adult sons, sued the government for failure to return the rarities that they gave to the U.S. Mint to authenticate.

New York litigator Barry Berke argued on behalf of the family before Judge Davis that the Mint should bear the burden of proving that the coin was illegal and could not be privately owned. In a remarkable decision, Judge Davis, agreed.

The new civil forfeiture suit is the government response. It calls for a declaratory judgment that the King Farouk 1933 $20, which sold at auction in 2002 for $7.59 million under a consent agreement between the Mint and another Berke client, London coin dealer Stephen Fenton, to be declared the only legal specimen that can be privately owned.

It is anticipated that there will be months of legal wrangling before resolution, and given the stakes, the inevitable appeals, with the government claiming the coins could not have left the Mint because FDR nationalized gold and banned private gold coin and bullion ownership, and Berke on behalf of the Langbord family claiming that the coins were properly exchanged and entered into the stream of commerce as lawful legal tender.
Source: numismaster.com

Note found in antique chair spurs treasure hunt

2009-10-01T06:16:00.000-07:00

Patty Henken always thought she found great value in the rickety rocking chair when she plunked down US$200 for it at an auction, figuring she could restore the century-old relic to its former charm.

Doing that turned out to rock her world, sending her on a treasure hunt straight out of a mystery novel.

Five months after hauling the chair home last November, Henken spent hours in May prying the seat off it in her garage in Mount Sterling, Ill. A small envelope fluttered from it as she tossed the seat aside - "Finders Keepers" typewritten on it. Inside, a key was taped to a note.

"This DEXTER key (number sign) 50644T will unlock a lead chest," the note began, before spelling out a location in Springfield, Ill. - 1028 N. Fifth St. - where a chest containing more than US$250 in US gold coins supposedly was buried 12 feet below ground.

The stash, the note claimed, included eight US$20 gold pieces, six US$10 gold pieces, five US$5 gold pieces, three US$2 1/2 dollar gold pieces and two US$1 gold pieces.

The note, signed by a "Chauncey Wolcott", included a request to contact the Springfield newspaper if the chest was ever found. Henken finds that intriguing, thinking Wolcott perhaps has left a confession in the chest or "wants to give us an answer to an old mystery”.

For now, any treasure remains elusive. A search of the site - currently a vacant lot - with a donated backhoe last Sunday came up empty, though Henken pledges to be back at it this weekend.

Whatever the outcome, "it's the fact that there's a story there that's exciting", Henken, 48, said Wednesday from her hometown, where she works part-time as a window clerk at the post office.

The note at the crux of the mystery isn't dated - though its insistence that the chest "cannot be located by metal detector" suggests it could have been written anytime since about World War II, when the first practical metal detectors came to be.

At the supposed burial spot, the home on the lot was torn down many decades ago. The owners of the land - retired state corrections workers Dennis and Sharon Chrans - live next door and, at least initially, disregarded Henken's voicemail approaches as the workings of a telemarketer.

"We were sceptical all the way," Sharon Chrans recalled. But the couple eventually were swayed and met with Henken and her husband, hashing out a deal to split any costs of the dig - and the proceeds of whatever they found.

Henken's scouring of genealogy records and courthouse documents in Sangamon County, which includes Springfield, has offered no clues to anyone named Chauncey Wolcott. Dennis Chrans found no such name on his property's abstract.

Yet last Sunday, the dig began. A couple dozen folks showed up, many of them friends of the Henkens. Some brought lawn chairs, others drinks and snacks. A co-worker of Patty Henken's brought a toy magic wand they generally keep behind the counter at the post office, using it to change their attitude whenever a grumpy customer leaves.

"It was a happy event, a party-like atmosphere," Sharon Chrans said.

The women wanded the backhoe for luck, and the machine began clawing up earth and eventually turned up a cistern - something onlookers considered promising until it yielded only bricks and antique bottles. Elsewhere on the lot, the digging revealed a well too deep to really scrutinise despite their efforts to siphon out some water.

"Some people think it's still down there," Chrans said, speculating that if the booty really does exist, Wolcott knew what he was doing by leaving it in a lead box that wouldn't deteriorate.

Still, everyone accepts that it all could be a hoax. Henken isn't sweating that prospect, having lost plenty of far more relevance in recent years - a brother to brain cancer, a son in an Easter Sunday rollover crash and a nephew to leukaemia. One of her sisters died of breast cancer in 1990.

She admits the effort could be fruitless, much like the time in 1986 when TV host Geraldo Rivera and a demolition crew drew a worldwide television audience when they blasted away a 7,000-pound concrete wall of a basement chamber billed as 1930s gangster Al Capone's vault in Chicago's former Lexington Hotel. Even the Internal Revenue Service was on hand to lay claim to any cash or bullion - but all Rivera found was empty booze bottles and an old sign.

The Henkens expect to resume the dig Saturday, hoping with the Chranses that there's some resolution.

"I really don't have a gut feeling," Sharon Chrans said. "We just had to try once that information presents itself. You just can't leave it there with it just tempting you."

Henken isn't willing to let it die.

"There may not be a penny in it, but I want to finish this. I want to complete the task this note started," she said. Given the recent tragedies, "I don't have a lot of positives in my life. But this has kept me busy all summer, and nobody's going to dash this for me."

Source: 3news.co.nz

Central Bank To Take ¢5, ¢10 and ¢20 Coins Out Of Circulation

2009-09-29T09:51:00.001-07:00

The Banco Central (Central Bank) has decided to make life a little easier in Costa Rica with the elimination the "plateado" (silver) ¢5, ¢10 and ¢20 coins.

The coins being removed from circulation are large and heavy silver coins, not to be confused with the smaller and lighter silver coins of the same denomination.

The Central Bank estimates there are some 146 million of the coins in circulation.

Marvin Alvarado, director of the Central Bank's treasury, said that the eliminatin of the three coins will simplify the coin system, having only one size coin for each denomination.

The smaller silver coins are the same at the gold coins of the same denomination and include braille for easy identfication by the blind.

Alvardao said merchants are asked to accept the coins but not put them back in circulation, handing them over to their local bank, which in turns hands them back to the Central Bank.

Currently there eleven (11) coins in circulation: ¢5 (two in silver and one in gold), ¢10 (two in silver and one in gold), ¢20, ¢25, ¢50, ¢100 and ¢500.
Source: insidecostarica.com

Impact of $1,000 gold positive but variable

2009-09-25T10:30:00.000-07:00

Since gold jumped over the $1,000 mark Sept. 11, Kirk Kelly of the Coin Depot, Greenville, S.C., says his sales of the precious metal have increased dramatically.

“Our sales are up probably 50 percent,” he told Numismatic News Sept. 23.

“We’ve certainly seen an increase in the American Eagles and any of the bullion stuff.” He ticked off the Canadian Maple Leaf coins and the South African Krugerrands, too.

Kelly has noticed the decline in the premiums over bullion value in recent weeks as compared to last year and the early months of 2009.

“They are a fair amount cheaper,” he said of the gold coin premiums.

With silver trading over $17 a troy ounce, he said there is an “increase in silver purchases, too.”

People were buying “just about every which way you can buy.

“We’re selling a bunch of 100-ounce bars. We’ve sold out of 10-ounce bars.”

He noted he was also selling 5-ounce and 1-ounce bars.

Demand for $1,000 face value bags of 90 percent silver U.S. coins was also higher, he said.

One reason perhaps is premiums on the bags are also down.

“Oh yeah, 90 percent, it’s a cheap premium now. It’s just a little over melt,” Kelly observed.

How about people selling precious metals back to him at the current high prices?

“We’ve seen an uptick in that. It hasn’t been as dramatic as our sales,” Kelly said.

Where will gold be in the future?

“Well over the next week or two it could go almost anywhere. The IMF is thinking about selling off some of their gold. There are a lot of little things in the market that could affect it.”

Kelly was more comfortable talking about the more distant future.

“Six months or a year out it will be higher,” he predicted.

Glenn Malone of Glenn’s Coin Shop in Downey, Calif., said his view at street level is the opposite of Kelly’s experience.

“Now everybody is on the waiting deal hoping it will go back down. Now they are on the fence,” he explained.

In his shop he does not do that much in gold sales. He explained that margins for him work out to $10-$20 on a $1,000 coin.

“It’s really not a lot of fun messing with it,” Malone said.

However, meat and potato collector coin sales are doing well, he pointed out.

“There are just an awful lot of people buying coins,” he explained.

Why might that be?

People are “not making a lot of money in the bank.”

As an alternative to getting almost no interest, Malone said collectors are “filling in collections with better coins and upgrading.”

He cited an example of a customer who saw his ad in Numismatic News. He visited the shop and bought $1,000 in BU quarters.

“He liked the grades and took them,” Malone said.

Gold may have jumped, but business at American Precious Metals Exchange in Edmund, Okla., has not.

“I wouldn’t necessarily say there’s been a jump. It’s been steady,” said Scott Thomas of APMX.

“Some say it is time to sell, but there are equal amounts of people buying,” he said. “There are plenty of both.”

In addition to the popular bullion coins, Thomas said the pre-1933 gold is selling “very well.”

The year 1933 saw the end of regular American gold coinage as the United States left the gold standard.

Thomas also concurred with the view that demand for 90 percent silver bags is strong.

“We’re selling a lot of bags of 90,” Thomas said. “The silver American Eagles are always good sellers. We sell a ton of those.”

When asked if he wanted to make a forecast about gold’s future price, Thomas replied, “No, I don’t think so.

“To be honest with you, we’ve been at this number before. I think this stimulus plan has helped to settle everything down. The run now is due to inflation fears. If the fear of inflation goes away, gold will go back down.”

If inflation fears prove true, Thomas forecast that gold “could easily go up.”

Gold over $1,000 obviously has gotten the attention of many people. What they do in light of this new price level seems not effectively to have become a pattern.
Source: numismaticnews.net

Gold coins at rebate prices

2009-09-24T21:36:00.000-07:00

Despite the soaring prices of gold, here's some reason to feel good for all the government officials, who are willing to purchase gold
coins this festive season.

For the ongoing festive month, the Post Office department has launched a scheme to give a rebate of 6 per cent on the purchase of gold coin from September 24 till October 24 to all the government officials.

Besides this, a scheme for general customers was also launched where 0.5 gram gold would be given free to all those who would purchase 10 gram gold from the post office. Krishna Kumar Yadav, chief postmaster said, "To avail this scheme, the customers are required to buy two coins of 5 gm each or a single coin of 8 gm or two coins of 1 gm each. Out of these two schemes a customer can only opt for one."

Notably, all across the country the Indian Postal Department along with a private financial firm is selling 24 carat gold coins to all the post offices. In Kanpur, GPO is the sole service provider of this scheme.

The chief postmaster also mentioned that the gold coins of weight 0.5 gm, 1 gm, 5 gm and 8 gm are available in post office. These gold coins are manufactured by Valcambi Switzerland and are 99.99 per cent pure. To beautify them, they are also packed in silver cover. The GPO has already earned Rs 2,78000 by selling these gold coins.
Source: timesofindia.indiatimes.com

New plaquette based on Brenner artwork

2009-09-22T11:47:00.000-07:00

A new medallic plaquette to honor the 200th anniversary of the birth of Abraham Lincoln has been created by Signature Art Medals of Groton, Mass.

It is based on the 1907 Lincoln plaque done by Lincoln cent designer Victor David Brenner.

Measuring 120 by 90 mm (4.75 by 3.5 inches), the plaquette is half the size of the original Brenner artwork.

On the reverse is a new design created by Don Everhart, U.S. Mint sculptor/engraver who also does freelance work.

The reverse shows Brenner as he worked to create his Lincoln portrait with the quote, “My Mind Was Full Of Lincoln” between wheat ears that look like the design devices used on the old Wheat-back cents.
The plaquette was struck by the Medallic Art Co. now based in Dayton, Nev. It is made of bronze and weighs 558 grams, or about 19.75 ounces.

It is given a patina called double brown-red chocolate by Greco Industries of Bethel, Conn., to give the appearance of the chocolate color that Lincoln cents acquire as they age and tone.

The plaquettes will be serially numbered on the edge starting with 001 up to the number of plaquettes ordered by Dec. 31, 2010, more than one year from now.

Price of the plaquette is $229 plus a $12.95 shipping and handling charge. Massachusetts residents must add sales tax.

Payment should be made by major credit card, or if ordered online by Paypal. Visit the Web site, www.SignatureArtMedals.com, for details.
Source: numismaticnews.net

Fla. explorers, UK reach agreement on shipwreck

2009-09-20T21:24:00.000-07:00

Florida deep-sea explorers said Friday that they will work with the British government to salvage artifacts from centuries-old shipwreck of a heavily armed vessel, and the company may continue to make money under the agreement.

Tampa-based Odyssey Marine Exploration announced it was giving up its legal claim as part of the agreement with the British government regarding the wreck of the HMS Victory, a 100-gun man-of-war that sank in the English Channel in 1744.

Odyssey CEO Greg Stemm said Friday that the company's legal claim filed in U.S. District Court in Tampa has been dismissed, and the company will now work closely with the British government on salvaging the wreck, which is believed to include 4 tons of gold coins.

The British government has taken possession of two brass cannons Odyssey has already raised from the wreck in exchange for a salvage award of $160,000.

"We are comfortable that the way forward will include not only Odyssey's involvement but a deal with Odyssey that allows us to participate in the project," Stemm said.

Stemm said the company has proposed an agreement similar to one it had reached with the British government over the proposed salvage of another historic warship, the HMS Sussex, which had the company and the government sharing proceeds.

A spokesman for Britain's Ministry of Defense, speaking on customary condition of anonymity, said consultations will be held to determine how to proceed with the wreck. Options range from leaving it undisturbed to full excavation.

Odyssey, which in 2007 hauled up an estimated $500 million in silver coins from a Spanish shipwreck, said it discovered the remains of the British vessel last year in about 330 feet of water and has worked closely with the British government on how salvage and preservation should proceed.

Stemm said in the statement that Odyssey donated $75,000 of its salvage award to help the National Museum of the Royal Navy preserve the Victory wreck.

Odyssey's relations with the Spanish government have not been so cordial. The company has been locked in a legal tug-of-war with Spain for more than two years over the vast treasure raised from what is believed to be the galleon Nuestra Senora de las Mercedes y las Animas.

Odyssey brought 17 tons of silver and other artifacts from the wreck to Tampa in May 2007. Spain immediately demanded that it all be returned, arguing that the government had never surrendered ownership of the sunken ship and its contents.

In June, a federal magistrate judge came down squarely on the side of Spain, urging Odyssey to return the treasure. The U.S. government got involved last week, filing a brief supporting Spain's claim to its cultural heritage.

A federal judge has not indicated when he will make a final ruling.

Source: google.com

50 pieces of coin for each denomination

2009-09-17T20:47:00.000-07:00

Parliament approved an amendment to the Bank of Jamaica Act changing the tender limit of all denomination of coins.

The limit is now fixed at 50 pieces for each denomination.

The limit restricts the number of coins which can be legally tendered in settling a payment transaction.

Finance Minister Audley Shaw who tabled the amendment explained that it became necessary due to among other things the replacement of currency notes with coins.
"The last revision of the legal tender provisions in the Act as they relate to coins was done in 1973 (and) at that time, the highest denomination coin was $0.25. In the years following that last revision, coin denominations have been introduced to replace the $1, $5, $10 and $20 denominations as currently known.

"The replacement of currency notes by coins has given rise to the need for adjusting the existing legal tender prevision in the Act so as to increase the amount for which coin denominations constitute legal tender," said Mr. Shaw.
Source: radiojamaica.com

Time to Start Hunting for Low-Mintage Gold

2009-09-15T21:29:00.000-07:00

With gold toying with the $1,000-a-troy ounce level, it is understandable when noncollectors confuse the gold market with the coin market.

However, for collectors, the higher price of gold spells opportunity if you happen to believe that the price of bullion is unlikely to fall significantly below this milestone price level.

What am I talking about?

Just this: The quadrupling of the price of gold since the 2001 low point has done much to wipe out price distinctions made by collectors among various collector gold coin issues.

Many coins trade on the secondary market for essentially the price of bullion plus a markup just large enough to prevent the dealer from sending the coin to the melting pot.

It is time for long-term collectors to start taking a look at gold coin mintages and seeing just what kind of low mintages can be acquired for melt value.

Can you buy a coin with a mintage in the hundreds for melt value? It looks to me like you can. There are numerous small countries that have issued commemoratives with very low mintages that currently have no great collector demand behind them.

That could always be the case, but what would you care if the price of gold bullion provides you with a permanent floor?

I happen to follow the coins of Costa Rica for personal enjoyment. The country has some very nice commemoratives. However, the market for these is certainly not large and probably never will be.
Source: numismaster.com

This Central American nation is not the only country that has issued commemoratives over the years, or standard issue gold coins from the time when the gold standard was internationally in force.

This advice goes double for world coin collectors who want to own a little gold anyway as a hedge against inflation or other financial disasters.

Why buy the popular American Eagles or Canadian Maple Leaves that have mintages in the hundreds of thousands and millions when you can enjoy the beauty and variety that the world collector coin field offers?

There is only one reason: if you figure a day will come when you will have to sell a large number of gold coins rapidly, then the bullion coins have the advantage.

However, if you are hedging in the manner of long-term insurance and you figure you will have a little time to sell the gold coins when the time comes, well then these low-mintage collector coins seem to me to be a more appealing option.

If bullion stabilizes as it did for many years after the last major peak in 1980, the impact of mintages on prices will once again begin to be felt as other collectors and dealers go through the reasoning process of why two coins with the same bullion content but wildly different mintage figures should trade for the same price.

That means that the present time is a great time to be a collector and to take advantage of the lack of market price distinctions. Better yet, if you already have some gold bullion coins, start working them off in favor of the same quantity of precious metal with the lower mintages.

The hedge will be intact and you will have the satisfaction of owning a collection unique to you - and because of the low mintages - likely to stay that way.
Source: numismaster.com

Copper record: $1,265,000 price achieved by cent

2009-09-14T04:09:00.000-07:00

The finest known 1795 large cent with a reeded edge sold for a record $1,265,000 Sept. 6. It was a highlight of the Dan Holmes collection of early large cents. This collection was auctioned by Ira and Larry Goldberg in association with Chris McCawley and Bob Grellman at the Beverly Hills Crowne Plaza.

Although many coins in the collection sold for record prices, the spotlight here is on the Holmes 1795 reeded edge, as this is a bewildering price for a copper coin. Greg Hannigan was the successful bidder and was acting on behalf of a collector of large cents by die variety.

This 1795 large cent is of the die variety known as Sheldon-79. Though it is best known for having a reeded edge, it is truly a die variety, not just an edge variety. A particular die pair was used only to produce the coins that are now known as Sheldon-79.

The 1795 reeded edge cent is listed as a separate issue in most leading price guides, including various Krause Publications. I regard it as an experimental piece. Generally, copper coins do not have reeded edges. Note that it is listed in the standard Judd reference on pattern, experimental and trial pieces. Editors of most guides, however, imply that the 1795 reeded edge cent is a true, regular issue coin that is needed to complete a set of large cents.

The Holmes 1795 reeded edge cent (S-79) is the finest of five to six known. It is graded Very Good-10 by the Professional Coin Grading Service. It is one of only two that have been certified. Last November, Bowers & Merena auctioned one that is PCGS graded Good-4 for $402,500. No others have been auctioned in recent years.

The auction record for a copper coin has been broken a few times over the last five years. On Jan. 5, 2009, in Orlando, the finest known Strawberry Leaf cent was auctioned by Stack’s for $862,500. It was NGC graded Fine-12 in 2004, and, after the Jan. 2009 auction, PCGS graded VG-10. It is curious that the finest known Strawberry Leaf cent and the finest known 1795 reeded edge cent are both PCGS graded VG-10.

Of the four known Strawberry Leaf cents, Holmes had two. Hannigan was the top bidder for both. One is PCGS graded Good-4 and it sold for $218,500. The other is of a unique variety. The placement of “ONE CENT” on the reverse is different. It is PCGS graded Fair-2 and it brought $264,500. I expected these two coins to bring more. Strawberry Leaf cents are rarer and much more famous than 1795 reeded edge cents or 1799 cents.

A 1799 cent in the Holmes collection sold for $977,500. It is the only 1799 cent that has been graded as Mint State by PCGS or NGC. It was in an NGC holder with an MS-62 label and is now in a PCGS holder with an MS-61 label. I grade it as AU-58. McCawley & Grellman grade it as AU-55.
My impression is that this 1799 cent will now be placed with a collector in the Southwest. He specializes in U.S. coins dating from the 1790s to the late 1830s, though he collects other pieces as well.

This $977,500 price is incredible for a 1799 cent, which may be very rare as a date, but is not extremely rare. In February 2008, the Eliasberg-Husak 1799 cent brought $161,000. It is PCGS certified EF-45. I could understand this Holmes 1799 cent being worth three times as much ($483,000). The amount the Holmes 1799 cent brought is more than six times as much as the Eliasberg-Husak 1799 cent realized. If the Holmes 1795 reeded edge cent had not sold a few hours earlier, this result would have set an auction record for a copper coin.

A longtime auction record for a copper coin, or pattern, was established at the May 1996 Eliasberg sale by Bowers & Merena in New York. The Eliasberg 1796 “No Pole” Half Cent realized $506,000. Not long after the May 1996 auction, it was PCGS graded “MS-67RB.” This record stood until January 2008, when Stack’s auctioned a copper 1838 silver dollar “pattern” for $529,000. A few days later, Heritage sold a 1792 cent pattern for $603,750. The exact metallic composition of this 1792 cent pattern is not known. It may not be a copper pattern.

On Feb. 15, 2008, the auction record for a copper coin was broken and then tied at the Heritage auction of Walter Husak’s early date cents. Husak’s PCGS graded AU-55 1793 Liberty Cap cent realized $632,500. In contrast, Holmes’ best 1793 Liberty Cap, PCGS AU-53, sold for $506,000 on Sept. 6. I strongly believe that Holmes’ best 1793 Liberty Cap is more desirable than this Husak 1793 Liberty Cap cent.

Husak’s Starred Reverse 1794 cent also realized $632,500. On July 31, 2008, Heritage auctioned a 1792 dime “pattern,” struck in copper, for $690,000, which is the same price that a 1796 cent realized on Sept. 14, 2008, in a Goldberg auction. This 1796 cent was consigned by the family of the late Ted Naftzger. It is PCGS graded MS-66RB.

In sum, if the results for the Eliasberg 1796 “No Pole” half cent and for copper patterns are set aside, the auction records for copper coins in general, since 1996, all pertain to large cents: (1) Eliasberg 1793 Liberty Cap cent, B&M auction, New York, May 1996, $319,000 – probably later PCGS graded MS-64. (2) Oliver Jung 1793 Chain cent, PCGS MS-65BN, ANR auction, New York, July 2004, $391,000 (3) Finest known 1793 Strawberry Leaf cent, ANR, November 2004, Baltimore, $414,000. (4) 1793 Chain cent, PCGS MS-65BN, ANR, January 2005, Fort Lauderdale, $431,250. (5) Husak 1793 Liberty Cap cent and Husak 1794 Starred Reverse cent, Heritage, February 2008, Long Beach, $632,500 each. (6) Naftzger 1796 cent, PCGS MS-66RB, Goldbergs, September 2008, Los Angeles, $690,000 (7) Finest known 1793 Strawberry Leaf cent, Stack’s, January 2009, Orlando, $862,500. (8) Holmes 1795 Reeded Edge cent, PCGS VG-10, Goldbergs, September 2009, Los Angeles, $1,265,000. I wonder about the next auction record for a copper coin.
Source: numismaticnews.net

10,000 Roman coins unearthed

2009-09-10T12:14:00.000-07:00

A massive haul of more than 10,000 Roman coins has been unearthed by an amateur metal detecting enthusiast - on his first ever treasure hunt.

The silver and bronze 'nummi' coins, dating from between 240AD and 320AD, were discovered in a farmer's field near Shrewsbury, in Shropshire, last month.

Finder Nick Davies, 30, was on his first treasure hunt when he discovered the coins, mostly crammed inside a buried 70lb clay pot.

Experts say the coins have spent an estimated 1,700 years underground.

The stunning collection of coins, most of which were found inside the broken brown pot, was uncovered by Nick during a search of land in the Shrewsbury area - just a month after he took up the hobby of metal detecting.

His amazing find is one of the largest collections of Roman coins ever discovered in Shropshire.

And the haul could be put on display at Shrewsbury's new £10million heritage centre, it was revealed today.

It is also the biggest collection of Roman coins to be found in Britain this year.

Nick, from Ford, Shropshire, said he never expected to find anything on his first treasure hunt - especially anything of any value.

He recalled the discovery and described it as 'fantastically exciting'.

Nick said: 'The top of the pot had been broken in the ground and a large number of the coins spread in the area.

'All of these were recovered during the excavation with the help of a metal detector.

'This added at least another 300 coins to the total - it's fantastically exciting. I never expected to find such treasure on my first outing with the detector.'

The coins have now been sent to the British Museum for detailed examination, before a report is sent to the coroner.

Experts are expected to spend several months cleaning and separating the coins, which have fused together.

They will also give them further identification before sending them to the coroner.

A treasure trove inquest is then expected to take place next year.

Peter Reavill, finds liaison officer from the Portable Antiquities Scheme, records archaeological finds made by the public in England and Wales,

He said the coins were probably payment to a farmer or community at the end of a harvest.

Speaking to the Shropshire Star, Mr Reavill said the coins appear to date from the period 320AD to 340AD, late in the reign of Constantine I.

He said: 'The coins date to the reign of Constantine I when Britain was being used to produce food for the Roman Empire.

'It is possible these coins were paid to a farmer who buried them and used them as a kind of piggy-bank.'

Mr Reavill said that among the coins were issues celebrating the anniversary of the founding of Rome and Constantinople.

In total the coins and the pot weigh more than 70lb.

He added: 'This is probably one of the largest coin hoards ever discovered in Shropshire.

'The finder, Nick Davies, bought his first metal detector a month ago and this is his first find made with it.

'The coins were placed in a very large storage jar which had been buried in the ground about 1,700 years ago.'

However, Mr Reavill declined to put a figure on either the value of the coins or the pot until the findings of the inquest are known, but he described the discovery as a 'large and important' find.

Mr Reavill said the exact location of the find could not be revealed for security reasons.
Source: dailymail.co.uk

Mint Announces New Series of Coins

2009-09-10T02:52:00.000-07:00

The United States Mint announced on Wednesday that the first in its “America the Beautiful” series of quarters will feature Hot Springs National Park in Arkansas, which was set aside for preservation by the federal government in 1832.

Yellowstone National Park in Wyoming will be featured second. Other sites to be honored in the 56-coin series include the Olympic Mountains of Washington, the tallgrass prairie of Kansas and the White Mountains of New Hampshire. The “heads” side of the coin will still feature George Washington.

Each state and territory will be featured in the series, which will end in 2021 with the Tuskegee Airmen memorial in Alabama.

New coins will be issued in the order that Congress approved the national sites. While Yellowstone is considered the first national park, the government set aside Hot Springs four decades earlier.

New coins will be released about every 10 weeks beginning in early 2010. Designs have not been made public.

Source: nytimes.com

Airship Coins From NZ Mint

2009-09-09T03:24:00.000-07:00

In June New Zealand Mint introduced its first oval-shaped coins with the Airship Collection, a group of coins marking famous flying machines of the world.

The coins feature Britain's R-34, the Russian CCCP-B6, the USS Akron and Germany's Hindenburg. The full color airship illustrations each have a background showing the capital city of the ship's nation portraying the 1930s art deco period of the time.

The 99.9 percent silver coins are $2 legal tender of Fiji Islands. They are each 1 troy ounce and measure 45 by 31 mm. The collection has a restricted mintage of 20,000 sets for worldwide distribution.
Source: numismaster.com

MJ set to become world’s top earning celebrity

2009-09-06T23:57:00.000-07:00

Michael Jackson has been predicted to become the world’s top earning celebrity next year.

The late King of Pop’s estate is expected to amass up to 150 million pounds from beyond the grave, thanks to merchandising contracts, album sales, and other royalties.

The top 1,000 licensing and merchandising experts across Europe, participating in the Brand Licensing trade event in London, made the predictions.

“Michael Jackson’s image and legacy is licensed on anything from coins and clothes, to coffee table books and singing, stuffed animals,” the Daily Express quoted Ciaran Coyle, The Beanstalk Group chief, as saying.

Source: thaindian.com

Gold, silver and inflation

2009-09-04T03:03:00.000-07:00

Gold and silver coins were lawful money in the history of the US. I use the term money since it satisfies my criteria for this term (medium of exchange, unit of account, store of wealth). At one point in our monetary history precious metal coins were the primary form of money. Coins also found homes in depositories issuing certificates redeemable for the coins. The depositories charged a fee for storage. The depository served a warehouse function and the certificates were the warehouse receipt. It was a reasonable arrangement. These certificates were deemed “as good as gold” and served as payment for goods and services and for repayment of debt. The certificates also satisfied the criteria of money. Whoever presented certificates at the depository was entitled to the stated amount of gold or silver on the certificate.

The owners of these depositories recognized that at any point in time, the amount of gold/silver on deposit was more than adequate to pay the certificate bearers (those wanting gold/silver). This condition is perfectly logical since as long as the depositors and certificate users had confidence in the existence of gold/silver in the depository, there was no need to withdraw the physical metal. The owners of the depositories used this to their advantage. They began to issue certificates well in excess of gold and silver deposits. This additional issuance is another example of what we call inflation. A greater amount of money (the certificates) was pursuing the same amount of goods and services in the economy. As a result, our store of wealth criteria for money was altered since each outstanding certificate had less purchasing power than before – no additional gold/silver backed the newly issued certificates.

During the American Revolutionary War, the fledgling country needed vast sums of money to fight the British. One method of acquiring this money was to tax the people. As a parenthetical note, for Government to do ANYTHING it must tax - absent taxes, it must borrow. Since taxes are usually unpopular, the country created money called the Continental Dollar. This money was credit extended to the people for goods and services. The colonists provided goods and services to the government to fight the war and the government paid the people with Continentals (not gold or silver coin). The Continentals were redeemable for Spanish milled dollars or the equivalent amount of gold/silver (meaning the Spanish dollar represented gold/silver). Since no additional wealth, in the form of gold/silver, appeared in the colonies to back the new Continentals, instant inflation occurred. We know this is inflation since the supply of money (Continentals) increased relative to what was supposed to back the money (gold/silver).

Six years after the Continentals came into existence it took $16,800 in Continentals to acquire $100 of wealth (gold/silver). During those six years would you rather have owned Continentals or wealth? Anyone realizing what was occurring with the purchasing power of a Continental would rid themselves of it (before it lost value) instead of gold/silver for transactions. This gives rise to something known as Gresham’s Law. The law says that bad money drives out the good money. In this case, the “bad” money was the Continental and the “good” money was the Spanish dollar/gold/silver. Eventually the Continental ceased to exist and the episode gave rise to the term “not worth a Continental”.

The Founding Fathers recognized Gresham’s Law and understood inflation. Article I Section 10 of the Constitution says, “No State shall enter into any Treaty, Alliance, or Confederation; grant Letters ofMarque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill ofAttainder, ex post facto Law, or Law impairing the Obligation ofContracts, or grant any Title of Nobility.”Note the specification of gold and silver coin for the purposes of tender to pay debt.

The eruption of the Civil War necessitated the creation of US Notes. As mentioned earlier when Government needs to do something either taxes are raised or money is borrowed. During the war, the Government chose to borrow by issuing Notes. These Notes, unlike the earlier Continentals, were not redeemable in gold). In exchange for the Notes, the public provided goods and services. The public could use the Notes to pay for their taxes. The Notes were also considered legal tender (lawfully declared money) for payment of public and private debts. Returning all the Notes to the Government for tax payment represented goods/services exchanged for taxes. While the Notes circulated as money, they did not satisfy our definition of money since it was not a direct store or representation of wealth. The Notes represented inflation. The circulation of the Civil War era Notes is inflation since the supply of money increased without a corresponding increase in wealth (gold/silver).

Debasement of money occurred in the Civil War and Revolutionary War eras. The common theme in both cases was war. War is an extraordinary event requiring extraordinary effort on the part of the public. In order for a war effort to be fought, tremendous resources must be marshaled away from regular consumption towards fighting an enemy. In order to prosecute a war, a government must either raise taxes or borrow. Since taxation is rarely popular, borrowing is the alternative. I make the point about war borrowing since for a portion of our history, this was the reason for incurring public debt.

In the ensuing years, the United States functioned with an assortment of paper certificates redeemable for gold/silver. Additionally, gold and silver coins (wealth) were also used in common transactions. Late in the 19th century and early in the 20th centuries, financial panics and bank runs occurred which gave rise to one of the most significant but least understood events in the 20th century – the creation of the Federal Reserve System (Fed). With the creation of the Fed our “money” acquired an entirely different complexion.
Source: examiner.com

Gold Rush bars to go on display

2009-09-03T02:50:00.000-07:00

Two huge California Gold Rush era assayers’ ingots, recovered from the fabled SS Central America and with a combined weight of more than 100 pounds of gold, will be on display at the Long Beach Coin, Stamp & Collectibles Expo Sept. 10-12 at the Long Beach, Calif., Convention Center.

“The display will feature a Kellogg & Humbert gold bar that weighs 662.28 ounces and a Justh & Hunter ingot that is 598.08 troy ounces,” said Ronald J. Gillio, expo general chairman. “Both were recovered in the late 1980s from the Central America, the legendary Ship of Gold that was carrying tons of California Gold Rush coins and ingots to New York City when it sank during a hurricane in 1857.”

The Kellogg & Humbert gold bar is stamped as number 804 with an 1857 value of $12,225.62. It is the fourth largest gold bar of the 532 ingots recovered from the Central America. The Justh & Hunter ingot is number 4255 and marked at the time as $11,089.95.

The ingots will be displayed by Monaco Rare Coins of Newport Beach, Calif.

“The exhibit also will include some of the finest known Augustus Humbert $50 denomination octagonal slugs produced in San Francisco during the height of the Gold Rush,” said Adam Crum, Monaco vice president. “These colossal gold bars and big $50 coins, literally, are treasures of Wild West history.”

During the three-day Long Beach Expo, more than 1,000 dealers will be buying and selling rare coins, paper money, stamps, postcards, historic documents, antiques, estate jewelry and other collectibles. Some will provide free, informal appraisals for visitors.

A free gold coin will be awarded daily to a registered visitor. Young numismatists’ activities including a children’s treasure hunt will be held on Sept. 12.

A half dozen educational programs and collector club meetings will be conducted during the show. Heritage Auction Galleries will hold a public sale of U.S. and world coins and paper money.

Expo public hours are 10 a.m. to 7 p.m. Sept. 10-11, and 10 a.m. to 5 p.m. Sept. 12. The show is closed on Sunday. A complete schedule of events is online at www.LongBeachShow.com.

General admission, good for all three days, is $6. Members of any coin or stamp club who display a valid membership card pay $4. Admission is $3 for seniors 65 and older. Children ages 7 and younger are admitted for free. Discount coupons are available on the Web site.
Source: numismaticnews.net

Newly Found 1792 Washington Pattern Cent to be Offered for Sale

2009-09-02T03:04:00.000-07:00

Throughout the 1860s and 1870s numismatics and coin collecting grew into a popular hobby for many people of means, and Washington pieces ascended to be one of the most popular areas in the American numismatic community. Tokens, medals, and other pieces bearing the portrait of Washington, some made in England and France and America, were avidly sought. A Description of the Medals of Washington, by James Ross Snowden, director of the mint, was published in 1861 and described the Mint Collection. In 1885 the monumental work, The Medallic Portraits of Washington, by W. S. Baker, was published in Philadelphia. In 1985, this volume was completely updated and revised by Russell Rulau and Dr. George Fuld.

From the mid-19th century to the present, Washington pieces have formed an important specialty in American Numismatics. Indeed, no major reference book is complete without mention of them, and no collection can be called comprehensive without containing examples of Washington coins and medals.

Thenicely detailed example shown here is going to be offered for sale by Heritage as par of their Long Beach Auction next month. It has smooth chestnut-brown surfaces that are free of porosity or corrosion. However, several scratches and scrapes occur on each side, including a number of rim imperfections. At the same time, it is more desirable than the Garrett-Roper coin that is well worn, or the Robison example that is holed and plugged. The finest known is the Norweb coin (Stack’s, 11/2006), that sold for $253,000.

The prior provenance is unknown, but it is from an old-time numismatic holding and has been off the market for decades, and is a new specimen to the current numismatic generation. Despite its obvious imperfections, the present specimen of the Hancock Washington pattern is extremely important and highly desirable.

The dies are attributed to John Gregory Hancock, a talented English engraver, and production is attributed to Obediah Westwood of Birmingham.

The WASHINGTON PRESIDENT obverse is combined with the reverse having 13 stars along the top border. The edge is lettered UNITED STATES OF AMERICA. This basic design exists with either a plain or a lettered edge. Both edge types are known in copper and silver, while the lettered edge pieces are also known in gold. A unique copper piece is also known from a second obverse die.

These 1792 pieces are related to other Washington pieces with a similar obverse die, including the Washington Born Virginia coins and the General of the American Armies pieces. They are thought to be patterns made in England in anticipation of a possible contract coinage for the United States. This variety, in copper with a lettered edge, is varyingly estimated to have between 4 and 8 specimens known.

There has been some disagreement regarding the number of pieces known today. The Whitman Encyclopedia of Colonial and Early American Coins, by Q. David Bowers and published in 2009, provides rarity ratings using the Universal Rarity Scale that Bowers published in his Silver Dollar Encyclopedia a number of years ago. In 1988 Walter Breen provided estimates of rarity in his Complete Encyclopedia, and in 1999 George Fuld and Russell Rulau gave estimates in the second edition of Medallic Portraits of Washington. The six varieties are recorded here with the published survival estimates:

–W-10660 Plain edge, copper. Bowers (unique), Fuld (6-7 known), Breen (6-7 known)
–W-10665 Plain edge, silver. Bowers (3-8 known), Fuld (3-4 known), Breen (4-5 known)
–W-10670 Lettered edge, copper. Bowers (5-8 known), Fuld (5-6 known), Breen (4-6 known)
–W-10675 Lettered edge, silver. Bowers (3-4 known), Fuld (4-5 known), Breen (5-6 known)
–W-10680 Lettered edge, gold. Bowers (unique), Fuld (unique), Breen (unique)
–W-10685 Variant die, lettered edge, copper. Bowers (unique), Fuld (unique), Breen (unique?)

If the plain edge copper piece is truly unique as Bowers records, then the lettered edge copper pieces become the only collectible examples in that metal, with approximately six known.

Source: coinlink.com

Rare coin found in firefighter charity drive

2009-08-26T07:06:00.000-07:00

A few weeks ago Orlando firefighter Brad Lehnen and the crew at station 10 hit the streets like they do every year, collecting money for the Muscular Dystrophy Association, dollar after dollar filling the boot. But what Lehnen didn't realize is there was a little surprise inside when he dumped out his boot. “I started counting all the bills. Sifting through the change and their was a gold coin at the bottom, “said Lehnen.

Firefighters often find things other than coins and dollars in their boots phone numbers, watch batteries once even an engagement ring, but this is the first time the MDA in central Florida got a rare coin, a 1912 gold coin with an Indian head on it. "Every year we get a surprise donation. I don't think a rare coin is going to be sitting in the ash tray. I feel it’s an anonymous donor that picked the Orlando boot to drop it in.” said Amy Clelland from the MDA.

Gold coins like the one found in the boot could be worth thousands of dollars. FOX 35 took it to coin and currency of Orlando. They told us the two and a half dollar coin is worth about $200.00.

Not a bad day for the firefighter. Collecting for the MDA is a friendly competition between the Orlando fire stations and it looks like with this rare find this firefighter Lehnen will get the credit this year but he doesn't care about that, "Muscular dystrophy is getting credit for it. I don't think it’s us.”

This is not the first time a charity has received a gold coin. For years the Salvation Army all over the country has had rare coins dropped in anonymously, some worth thousands of dollars.

MDA is hoping they can sell this coin and take all the proceeds to give to their charity.

Source: myfoxorlando.com

Hawaiian coins put on block

2009-08-24T21:02:00.000-07:00

An auction of a collection of Hawaiian coins and bank notes will be conducted Sept. 7 jointly by Ira and Larry Goldberg with Stack’s.

Among the highlights are Hawaiian coinage patterns. A silver eighth dollar graded Proof-62 by NGC is expected to bring $25,000-$35,000. The catalog notes that only 20 pieces were struck. King Kalakaua I appears on obverse and on reverse the denomination in Hawaiian, HAPAWALU, is surround by a laurel wreath and the English value is given below it.

Also among the more than 500 lots are 44 lots of 1847 Hawaii cents in various grades.

Silver coins of 1883 are well represented with multiple examples of 10 cents, quarter, half dollar and dollar coins.

A cameo Proof-63 1883 quarter dollar graded by Numismatic Guaranty Corp. carries an estimate of $8,000-$10,000 and a notation that it is the only cameo graded for this issue.

Two cameo Proof-62 Hawaii dollar coins graded by NGC are estimated to bring $12,000-$15,000, while an MS-64 example of the dollar graded by the Professional Coin Grading Service and which depicts King Kalakaua I on the obverse and the royal coat of arms on the reverse, is expected to bring $10,000-$12,000.

Multiple examples of the Hawaiian U.S. commemoratives of 1928 and Hawaiian overprint U.S. paper money are part of the collection.

Also going on the block in the same sale is the Tom Kelly Collection of California fractional gold.

This portion of the sale is conducted by the Goldbergs.
Source: numismaticnews.net

NGC to begin details grading

2009-08-21T11:30:00.000-07:00

As of Sept. 1, Numismatic Guaranty Corporation will begin encapsulating coins with detrimental surface conditions using details grades and descriptions of their impairments.

Coins that previously would have been returned ungraded by NGC as so-called “No Grades,” will now be assigned a details grade that accords with their level of surface wear, such as VG Details or XF Details, when submitted for grading.

Coins that have no wear but still display a problem surface condition will be labeled as Unc Details or, in the case of proof coins, simply Proof. Following the details grade will be a description of the noteworthy surface condition, including, for example, Improperly Cleaned, Artificial Color, Environmental Damage and Tooled.

A guidebook available in hard copy and on NGC’s Web site, www.NGCcoin.com, called “Understanding NGC Details Grading” will define all the terms used by NGC to describe these surface conditions.
“Now as many coins as possible will be returned certified and encapsulated, meaning that they are covered by the NGC Guarantee,” said NGC President Rick Montgomery. “NGC Details Grading also provides comprehensive descriptive information for coins with surface problems, making them easier to buy and sell.”

In the past, coins with problematic surface conditions were given Details Grades and were encapsulated by NGC’s affiliated conservation company, Numismatic Conservation Services. This service is being discontinued concurrent with the launch of NGC Details Grading.

This new service will be provided automatically for all NGC grading tier submissions at no additional service charge. The authenticity of details graded coins will be covered by the updated NGC Coin Grading Guarantee, and coins graded under this program will be encapsulated with a distinctive purple NGC Details Grading label.
Source: numismaticnews.net

Orchids coin set on sale

2009-08-20T07:07:00.000-07:00

THE 2009 Heritage Orchids of Singapore Coin Set was launched on Thursday by the Monetary Authority of Singapore (MAS).

It is the fourth set under the orchid coin series, which have proven popular with coin collectors, and will be issued in a premium set from Thursday.

Branching into silver proof and ez-link card features, the set consists of two coins displaying the Spathoglottis Primrose and Vanda Amy orchids.

The robust and free flowering Spathoglottis Primrose first bloomed in Aug 1931. It was the first hybrid of the Singapore Botanic Gardens' breeding programme initiated more than 70 years ago.

The Vanda Amy sports a distinctive lip from one of its parents, the Vanda Tricuspidata. A terete-leave Vanda, this orchid grows and flowers well in the sun.

The coins are sold by The Singapore Mint.

For enquiries and orders, members of the public can contact The Singapore Mint at 6566 2626 / 6339 0886 / 6895 0288 / 6895 0358 or visit www.singaporemint.com. Orders must reach The Singapore Mint by Sept 20.

Source: straitstimes.com

Massive Ancient Chinese Coin Hoard Unearthed

2009-08-18T07:25:00.000-07:00

Have you ever given much thought as to how ancient coins got to that dealer from whom you plan to buy them? Don't assume that the coins must have previously been in a collection that has since been liquidated. If this were always true, we could likely trace the pedigree on most ancient coins to some collector from the Renaissance or earlier.

In fact, many of the ancient coins on the market - be they Chinese, Indian, or in the Greco-Roman tradition - have likely been unearthed in relatively modern history. Unfortunately the sources of coins originating from China may soon dry up due to China's efforts to enforce its laws forbidding the export of coins that circulated prior to 1911. These coins have been declared cultural patrimony.

If the coins were unique, the argument would make greater sense, but the recent discovery of more than two tons of ancient coins in Shaanxi Province in northwest China makes the point. A detailed listing of the coins, found when workmen were excavating at the site of a playground to expand a primary school, was not yet ready when this article was being written. According to the June 10 China Review, once the coins were discovered, the site was closed to further construction and was swarmed by "more than 70 archaeologists, officials and police."

Liquan County Cultural Relics Protection and Tourism Bureau director Zhao Aiguo said the coins were found when workers were excavating the grounds for construction of another building. It took more than five hours to retrieve the massive coin hoard from a gray brick vault in which they were entombed. The vault itself was described as measuring 1.5 meters in width and length as well as one meter in height. Zhao didn't give details, but he suggested the vault was likely build during the Yuan Dynasty of 1279 to 1368.

Collectors would likely enjoy eventually owning some of these coins once historians are done analyzing the hoard, but unless Chinese export laws change, this is unlikely. Fortunately, there are indications the find is being handled responsibly.

According to China Review, "'The coins have been sent to a local museum and archaeologists were counting them. Because there were so many, it might take a week to know the exact number and categories,' Zhao said."

There are some hints regarding information about the site and the coins found there, even before any results of the finding are made public. Zhao indicated the site is part of what had been a temple built between 180 B.C. and 157 B.C. by an emperor as a memorial to his mother. Some of the coins found at the site may have been donatives left by visitors to that temple, although he didn't give any date at which such visitors may have been there.

The date of such a visit may have been significantly later, since the preliminary results publicized through China Review indicate the find consists of coins in circulation in the Tang (618 to 907), Song (960 to 1279), and Yuan (1279 to 1368) dynasties.

The type of round coins with square hole known as kai yuan introduced during the Tang dynasty set the style for cash coins until the 20th century. Many of the numerous varieties are common.

The Song dynasty was pressured by barbarians from the north, forcing them to abandon their capitol and move south. The Southern Song dynasty is likely best remembered numismatically for Chun Huan Yuan Bao characters written by Emperor Tai Zong on coins. Dui gian or couple coins (coins with the same characters appearing in different fonts) are also known from this period, as is jiao zi, the earliest known paper currency in the world.

Yuan dynasty currency is similar in form to that of the Song dynasty, although a large cash Mongol dayuan tongbao coin was issued in 1310. Newly cast coins replaced the old with each succeeding emperor. Paper money became relevant to the economy during this period, replacing bronze and iron coins until 1310 during the reign of Emperor Wuzong.

The Liquan County find is of interest since it comes on the heels of a 2006 discovery of 150 coins that appear to be a coin collection found in the same province. The likely collection was found in a tomb and consists of more than coins. It is described as being of 20 different types all from the Tang, Song, and Jin dynasties spanning about 600 years. Once again, particulars on this find could not be found in time for this article.
Source: numismaster.com

Liberty Dollar ceases operations

2009-08-17T05:45:00.000-07:00

Operations of Liberty Dollar, a company responsible for producing private barter currency, has closed, owner Bernard von NotHaus announced in an e-newsletter sent Aug. 1.

Von NotHaus said difficulties with the FBI and a series of court appearances have led him to close the business, at least until he is acquitted.

In June the Department of Justice charged Von NotHaus, along with two other defendants, with conspiracy that involved passing silver rounds off as genuine U.S. coins.

Von NotHaus assured his customers that, although their pending orders will be delayed, he will do everything he can to fill all orders placed before July 6. That was the date a judge issued an oral order stating that NotHaus “shall not circulate or aid in the circulation of any coins or currency in relation to the Liberty Dollar operation.”
Source: numismaticnews.net