Junk Silver Coin Prices

Junk silver coins are very popular among survivalists who are concerned with future financial and economic crisis as they can be purchased in bags of coins for not much above the spot price and remain legal tender and can be spent in small amounts.

Junk silver coins refer to those coins minted prior to 1964 and which contain a certain amount of silver, something today’s coins do not.

The condition of the coins is largely immaterial as it is the silver content people are after not the beauty or even the historical value of the coins.

Junk silver coins have a silver content of around 90 percent. And from 1964 to 1970 silver coins had a reduced amount of silver, down to 40 percent. After that silver all but disappeared except in commemorative coins and special proof issues.

“Junk” really refers to the value of the coins in terms of numismatic collective qualities and not the silver content. A coin collector is generally uninterested in such coins with the exception that you might rarely find a very rare coin in excellent condition. Other than that the coins are bought and sold purely for the silver content and, currently, as the value of silver is rising, so is the price of junk silver coins.

Junk silver prices are tending to rise and so the cost of buying junk silver coins rises too. However the junk silver can usually be bought for a very small mark up or premium over the spot price of silver, particularly during these periods of economic stability.

Although junk silver coin prices remain set to rise as the value of silver rises, they are still an excellent buy for the future whether you are a survivalist or not.
Source: goldprice.org

New Penny's rarity Rumps up its Value

The penny, often picked on for its piddly value, has found some self worth in 2009.

The 2009 Lincoln cent, slow to spread into consumers' pockets - is being sold for big bucks. Single coins have fetched more than $1 each. Fifty-cent rolls have frequently ranged from $2 to more than $50 at online auction Web sites.

The first of four new penny designs officially launched on Feb 12 - Abraham Lincoln's birthday - but the 634.8 million coins produced by the U.S. Mint have barely made it into circulation.

The penny distribution "is slow-going," says Mint spokesman Greg Hernandez. "Because of the downturn and the lower demand for coins (for business transactions), banks are not demanding as many coins," he says. "As a result, the Federal Reserve has a pretty large inventory."

The sense of rarity has made the coin seem much more valuable, says Dave Harper, editor of "Numismatic News".

Four variations of the new Lincoln penny will be introduced into circulation this year. The heads side continues the familiar image of Lincoln's profile. The tails side features one of four different aspects of the 16th president's life.

The initial coin shows a log cabin to represent his Hodgenville, Ky., birthplace. The next designs, scheduled to release in approximate three-month intervals, will depict his early years in southern Indiana, his career in Illinois and his presidential term in Washington, D.C.

The former tails design, in use for 50 years, shows the Lincoln Memorial.

The new coins are in honor of Lincoln's 200th birthday and the 100th anniversary of the Lincoln penny's introduction.

The Mint also produced a specially wrapped, two-roll set of the circulating log-cabin pennies. They were priced at $8.95 plus $4.95 for shipping and handling. The Mint sold out at 96,000 sets.

The penny's shortage has helped coin sellers such as Sonna Young. She scooped up about $75 worth when she went to a Hodgenville ceremony that celebrated the cent's debut.

"Our primary reason for going was to get some rolls of pennies," she says. She's sold rolls from $6.95 to more than $50 on eBay.

But sales may soon slow as the pennies become more prevalent. The new pennies are "making their way out into the economy," says Hernandez, and people are getting them in change during purchases.
Source: news.cincinnati.com

Adams-Carter coin goes for $2.3 million

Besides laundry and parking meters, there doesn't seem to be a lot of need for coins these days. Of course, it's hard to make that claim when holding a silver dollar worth $2.3 million.

The 1804 Adams-Carter silver dollar, one of only 15 of its type known to exist, was sold at auction Thursday night for $2.3 million - including the buyer's premium - to coin dealer John Albanese of Bedminster, N.J.

"It was basically a half-million down from last year because of the recession," he said. "It was a good opportunity. These don't come around all the time."

The auction was held as part of the Central States Numismatic Society's 70th annual convention at the Duke Energy Convention Center.

The Adams-Carter dollar was being sold by a private East Coast collector. He had just bought another and thought having two was kind of absurd, said Gregory Rohan, president of Heritage Auction Galleries.

Coin Values magazine lists the Adams-Carter as the world's seventh-most valuable coin. The silver dollars were never circulated and weren't actually struck in 1804 - the date refers to the year after the U.S. Mint stopped making that particular coin.

Coinfacts.com says eight of the 1804 coins were ordered struck by the U.S. Department of State in 1834 to be given to foreign heads of state, including the King of Siam and the Sultan of Muscat. One specimen was made in 1857. The other six, including the Adams-Carter dollar, were made sometime after that.

The Adams-Carter is the best 1804 coin outside one held by the Smithsonian Institution, Rohan said. Many people stopped by the convention just to see it. "It's an iconic piece of American history that's never been in Cincinnati before," he said.

Heritage, which ran the auction, is one of the largest rare coin dealers in the world. The winning bid topped the $2 million that was expected, Rohan said.

Albanese said he was very pleased with the coin and, even though it was nighttime, he already had two or three calls from potential buyers. Still, it was way too late for him to think about selling it, he said.
“I’ll deal with that in the morning,” Albanese said at about midnight. The silver dollar is not the most expensive coin he’s ever had. Albanese sold a 1913 nickel for over $4 million a few years ago. However, this is the most famous coin he’s ever had in his possession, he said.

Coin collecting may seem absurd to some, but there's a financial security behind it, he said. "Coins have held their value better than the stock market or the real estate market in the last six months," he said. "A lot of people said their spouses gave them a hard time for spending so much on their coins, and now they thank their lucky stars they did."

It's not all about money, though: Coin collecting is as much, if not more, about the aesthetics.

"If you're a coin collector, you are a student of history, arts, science," said Dave Heinrich, president of the Cincinnati Numismatic Association, who helped bring the convention to the city. "Whatever interest you have, you can find it in the hobby."

The convention also had displays about money and a booth by the Bureau of Engraving and Printing, which had a printing press from the 1860s and lessons from Chris Madden, who designed the back of the new $10 bill. The event attracted people from throughout the country.

Robert Hamgyas, 30, came from Michigan just for the convention. "I like the searching part, looking for something rare or unusual," he said. "And hopefully, for the money you put in, you also get back, if not a little more."
Source: news.cincinnati.com

Perth Mint Rolls Out Five-Coin Battlefield Series

A 1-ounce silver proof coin featuring the 480 BCE Battle of Thermopylae is the maiden issue of the Perth Mint's new five-coin Famous Battles Series.

The series focuses on five notable engagements that have changed the course of history. The coins portray battlefield scenes spanning more than two millennia.

The Battle of Thermopylae was fought in a narrow pass in northern Greece between the invading Persian Empire under King Xerxes and a vastly outnumbered alliance of Greek city-states commanded by King Leonidas of Sparta.

With 300 bodyguards, the Spartan King led the defense of the pass for three days, inflicting enormous losses on the elite corps of the Persian army. The task became impossible, however, when a Greek traitor revealed a mountain track above the pass to one of Xerxes' commanders. Subsequently encircled by the Persian army, the Spartans and their allies fought valiantly to the death.

The courageous last stand by Leonidas inspired the united Greeks to ultimate victory in ensuing battles, thereby securing the rise of classical Greece.

The coin's reverse portrays a colorized image of Spartan warriors in classic phalanx formation. Struck elements of the design depict a Spartan warrior wearing a protective Corinthian helmet and metal breastplate, and a sword.

Issued as legal tender under the authority of the Government of Tuvalu, the obverse bears the Raphael Maklouf effigy of Queen Elizabeth II.

The coin is struck from in 99.9 percent pure silver in proof quality. It measures 40.60 mm in diameter and is 4.00 mm thick. It weighs 31.135 grams.

The Perth Mint will release no more than 5,000 of these coins.

The remaining four coins of the series are scheduled for release in 2009. They feature the Battles of Cannae, 216 BCE; Battles of Hastings, 1066; Battles of Balaclava, 1854; and Battles of Gettysburg, 1863.
Source: numismaster.com

Coins, mummies and statues point to tomb

A top archaeologist in Egypt says he may have found the lost tomb of Mark Antony and Cleopatra.

He says the proof includes 22 coins, 10 mummies and part of a mask with a cleft chin. The coins bear Cleopatra's face and name. The mummies could mean someone "important" is buried nearby.

As for the mask, the archaeologist notes that many believed Mark Anthony had a cleft chin.

He says finding the tomb would be "1 of the most important discoveries of the 21st century." He says it has special appeal "because of the love between Cleopatra and Mark Antony" and the sad story of their deaths.

It's been more than 2,000 years since Mark Antony and Cleopatra challenged Caesar Augustus for control of the Roman Empire. Their armies were defeated. Rather than submit to capture, the lovers committed suicide - Mark Antony with his sword, Cleopatra with a poisonous asp.

The Roman historian Plutarch says Caesar allowed the two to be buried together, but their tomb has never been found.

Excavations begin this week at the site near the Mediterranean Sea.
Source: nbc29.com

Historic coins on display at bank

Though once a major commodity, many of the silver coins used by Spanish, Mexican and Texan governments have been lost over the decades.

A few of those historic coins have been recovered, however, and will be on display throughout the week at The First National Bank in Seguin.

The bank, located at 125 S. Hwy 46 will officially opened its doors Monday and will hold a weeklong grand opening — featuring a peek into banking’s past.

The First National Bank administrative assistant Michelle Martin said that the bank wanted to bring something that would interest hopefully everybody.

“We had wanted to initially get a different kind of show or some special money from the Federal Reserve, but the Federal Reserve does not do that program any more,” she said. “We started looking on the internet and found this club and contacted them. I don’t know that anybody has brought something like this into the community and this may give people an opportunity to see something that they otherwise might not be able to do.”

The bank chose a local charter, Martin said, adding that customers would likely find the collectors’ display of antique coins interesting.

“This is from the Alamo Coin Club in San Antonio,” she said. “One of the things they have is an exhibit of Texas currency. Basically what they have is photographs of money that date back to the period of Texas that is the Spanish Colonial period, the Mexican Republic Period, and then when Texas became a republic and then they have some things from the late 1800s that would have been after the Civil War.”

For the exhibit, Fernando Razo, Alamo Coin Club vice president, brought four display cases tracking the timelines of the coins from Spanish Colonial Period, The Insurgent Period — War of Independence from Spain, The Republic of Mexico and the State of Coahuila y Tejas, and The Republic and State of Texas.

With an collection based around Texas and Mexican origins, Razo said his interest was pretty broad when he started almost 34 years ago.

“I am about to turn 40 and I have collected since I was about 6,” he said. “I stared doing a little bit of everything and it gets frustrating because you don’t feel like you are accomplishing anything. The reason I like collecting the Mexican (currency), is there is a lot less material out there to be collected and it is a lot less expensive on the pocket book for the avid collector, compared to the U.S. coins.”

The challenge and not the money, Razo said is what makes the search desirable to him.

“Some coins (Mexican) that are seen with a mintage of only 1,000 can be bought for $25, compare that to U.S. coins it will cost you about $50,000,” he said. “I collect them because there is a lot more history and they are much harder to find.”

The bank will display the exhibit starting Monday until Friday during lobby hours from 9 a.m. to 3 p.m. on Monday through Thursday and 9 a.m. to 5 p.m. on Friday.

The coin exhibit will not be the only happenings at the new bank next week, Martin said.

“Thursday we have our ribbon cutting and that’s going to be at 11 a.m. and everyone is welcome to attend that,” she said. “There is going to be a little something going on every day and it gives people the opportunity if they want to come in and look around the bank and see it.”

Even though the week is all about showing customers gratitude, the financial institution is wanting to give more to the community.

“The whole week we are doing a food drive for the Christian Cupboard,” she said. “We are asking people to drop off a non-perishable item, they can either bring to the lobby or if it is more convenient to them they can drop it off through our commercial drive through. For every pound of food we collect, we are going to donate $1 to the Christian Cupboard.”
Source: seguingazette.com

Un-common cents

As the poor economy has slowed introduction of the Abraham Lincoln cabin cent into circulation, rolls of the coin are much sought-after — and worth a pretty penny.

While 50-cent rolls now are drawing eBay bids of less than $10, a few forward-thinking sellers have gotten offers of up to $200, said Barry Powell, owner of Heartland Coins in Elizabethtown.

The U.S. Mint released the penny Feb. 12 in Lincoln’s birthplace of Hodgenville. Depicting his family’s cabin, it’s the first in a series of four 2009 cents that show various stages of Lincoln’s life. It’s also the first new penny in 50 years, and the release coincides with his bicentennial birthday.

Many of the 635 million cabin pennies produced by the Mint are still in the Federal Reserve. Commercial banks don’t need as many coins as they once did because of fewer retail transactions, Mint spokesman Greg Hernandez said.

Plus, people take their coins to the bank when the economy sours, Powell said. A bank with an overabundance of coins is less likely to order new ones.

An industry newsletter said it could be seven to eight months before the cents are widely circulated, Powell said.

Julie Ireland, a new accounts representative for Lincoln National Bank, said she hasn’t seen any of the new pennies reach her institution from customers.

“I figured by now maybe I’d run into a few,” she said.

It seems people around town don’t want to spend their cabin pennies. School children at the Feb. 12 event, after all, were urged to hang on to them and pass them on to their children and grandchildren.

Lincoln National ordered $5,000 for the release ceremony and has none left to give out.

Ireland said she doesn’t know when the bank will receive more. When it orders pennies, it will receive a mix — banks can’t request just cabin pennies, she said.

Lincoln National President Doc Meredith said the response for the pennies has been huge. People wanting them have called from as far away as California and Colorado.

Powell said his shop bought some from customers who attended the Hodgenville program — and, having no idea what they’d be worth, sold them all for a dollar a roll.

Some customers who bought rolls at face value during the event had them stamped and postmarked with the date and the location later in the day at the birthplace park. While eBay bids for these rolls had reached around $200, they’ve fallen to about $60, Powell said.

The Mint had offered two-roll packages for $8.95. All of these 96,000 sets have sold out.

Powell said he has been seeing them go for around $80 to $85 online.

The next Lincoln penny to be released is Abe taking a break from log splitting to read. The Mint will issue it in Lincoln City, Ind., on May 14. Later coins will represent his life in Illinois and presidency.

The Mint eventually plans to release a chronicle set — the four 2009 pennies plus a silver dollar.

For those who don’t want to go all-out: How much is a cabin cent worth if, say, they get one after paying for a drive-thru order?

“If you get it in change, it’s worth a penny,” Powell said.

Source: thenewsenterprise.com

Coin Bills Await Action by Congress

As the 111th Congress comes back from its first long district break, its numismatic plate is not very full. Some of the bills likely to become law over the next two years have already been introduced but await the tweaking needed to make them into good coinage law.

Other than introduction, nothing much has yet happened - that is likely to come later in this first session - but the introduction has put a small spotlight on sponsors and intent with the aim of eventually guiding some of them into laws passed by the House and Senate and signed into law by President Barrack Obama.

The current bills are:

" H.R.255: To require the Secretary of the Treasury to mint coins in commemoration of the 50th anniversary of the establishment of NASA, the National Aeronautics and Space Administration.

Sponsor: Rep. Sheila Jackson-Lee, Texas. Introduced Jan. 7. Status: Referred to the House Committee on Financial Services.

In previous congresses, a similar version passed one but not both Houses, so they try again.

" H.R.621: To require the Secretary of the Treasury to mint coins in commemoration of the centennial of the establishment of the Girl Scouts of the United States of America.

Sponsor: Rep. Jack Kingston. Introduced Jan. 21. Status: Referred to the House Committee on Financial Services.

The Boy Scouts centennial passed; now it's the Girl Scouts' turn.

" H.R.1177: To require the Secretary of the Treasury to mint coins in recognition of five United States Army five-star generals: George Marshall, Douglas MacArthur, Dwight Eisenhower, Henry "Hap" Arnold, and Omar Bradley, alumni of the United States Army Command and General Staff College, Fort Leavenworth, Kan., to coincide with the celebration of the 132nd anniversary of the founding of the United States Army Command and General Staff College.

Sponsor: Rep. Dennis Moore, Kansas. Introduced Feb. 25. Status: Referred to the House Committee on Financial Services.

" H.R.1195: To require the Secretary of the Treasury to mint coins in commemoration of Mark Twain.

Sponsor: Rep. John B. Larson, Connecticut. Introduced Feb. 25. Status: Referred to the House Committee on Financial Services.

" H.R.1209: To require the Secretary of the Treasury to mint coins in recognition and celebration of the establishment of the Medal of Honor in 1861, America's highest award for valor in action against an enemy force which can be bestowed upon an individual serving in the Armed Services of the United States, to honor the American military men and women who have been recipients of the Medal of Honor, and to promote awareness of what the Medal of Honor represents and how ordinary Americans, through courage, sacrifice, selfless service and patriotism, can challenge fate and change the course of history.

Sponsor: Rep. Christopher Carney, Pennsylvania. Introduced Feb. 26. Status: Referred to the House Committee on Financial Services.

With more than 226 cosponsors, this looks like it will move later this year.

" S.451: A bill to require the Secretary of the Treasury to mint coins in commemoration of the centennial of the establishment of the Girl Scouts of the United States of America.

Sponsor: Sen. Susan Collins, Maine. Introduced Feb. 23. Status: Read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs.

The Senate corollary to the House bill. Only one number can prevail.

" S.455: A bill to require the Secretary of the Treasury to mint coins in recognition of five United States Army Five-star generals, George Marshall, Douglas MacArthur, Dwight Eisenhower, Henry "Hap" Arnold, and Omar Bradley, alumni of the United States Army Command and General Staff College, Fort Leavenworth, Kansas, to coincide with the celebration of the 132nd anniversary of the founding of the United States Army Command and General Staff College.

Sponsor: Sen. Pat Roberts, Kansas. Introduced Feb. 23. Status: Read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs.

Another corollary bill.

" S.483: A bill to require the Secretary of the Treasury to mint coins in commemoration of Mark Twain.

Sponsor: Sen. Christopher Dodd, Connecticut. Introduced Feb. 25. Status: Read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs.

Dodd chairs the Senate Banking Committee, so this is more than a corollary bill. He also faces a stiff re-election fight as he goes for his sixth term. Watch this one for parochial interests.

" S.653: A bill to require the Secretary of the Treasury to mint coins in commemoration of the bicentennial of the writing of the Star-Spangled Banner, and for other purposes.

Sponsor: Sen. Benjamin Cardin, Maryland. Introduced March 19. Status: Read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs.

Another corollary bill.

" S.758: A bill to authorize the production of Saint-Gaudens Double Eagle ultra-high relief bullion coins in palladium to provide affordable opportunities for investments in precious metals, and for other purposes.

Sponsor: Sen. Max Baucus, Montana. Introduced April 1. Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Source: numismaster.com

Gold rush on Akshaya Tritiya

Recession is no dampener of faith, proves the jewellery sales on Akshaya Tritiya. Jewellery shops, banks, and Post Offices in the city witnessed record sales on the day.

Recession seems to have increased the demand for gold, as it has emerged as a unique monetary asset.

Akshaya Tritiya was not very popular in the State some 10 years ago. However, marketing innovations which made use of religious beliefs have attracted many new customers. Gold shops recorded 15 to 20 times sales compared to those on normal days. ‘’Sales on the Tritiya day almost equalled to our annual sales,’’ said the manager of a leading gold shop with branches across the State.

Jewellery shops across the city were flooded with customers. Majority of the sales were in the leading gold-houses such as Bheema, Alukkas, and Josco while small shops remained deserted, thanks to the marketing strategies of big shops, including promotional offers, discounts and hallmarked jewellery. Diamonds and white-gold sales were also high on the day.

Gold price was Rs 1,380 compared to Rs 1,130 last year. But, the rise in prices had not been a deterrent for the buyers. ‘’We purchase gold on this day every year. It is a belief and prices do not matter,’’ says Radhika, a housewife.

Shops had put on sales coins from 0.5 gm to 8 gm targeting customers of various income levels. Majority of the coins had Mahalakshmi, the goddess of wealth, inscribed on it. Various banks including SBI, ICICI, HDFC, and Post Offices offered a variety of investment options in gold by issuing gold bars and gold coins.

Gold is fast establishing as an alternative investment option, as recession has hit other investment areas.

Akshaya Tritiya falls on the third day of Vaisakha month. The Deities being worshipped on the day are Lord Balarama goddess Mahalakshmi and Lord Kubera. It is one of the four most auspicious days in the Hindu calendar.
Source: expressbuzz.com

Recession makes gold, silver hot commodities

Terry Parzyck can't sell many of the hundreds of rare coins, dating back to the 1800s, that he keeps in his display cases.

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But the Menomonie-based coin dealer was trading furiously in junk gold and silver Sunday at the Wisconsin Valley Coin Club Show in Rib Mountain.

The faltering economy has prompted people who are struggling to pay their bills to sell off everything from their grandpa's buffalo nickels to their old class rings, coin dealers say. On the flip side, the hard times have led to increased demand for gold and silver, as investors have lost faith in the stock market and want to put their money into something more tangible. Special section: Surviving Hard Times

So while rare coins that command premium prices are gathering dust on dealers' shelves, coins that are valuable solely for their silver or gold content are trading well.

"We're seeing distress-selling from people who have lost jobs," said Michael P. Schiller, president of Allouez Rare Coin Gallery in Green Bay. "I have 1,000 sellers for every buyer right now. I'm not exaggerating."

The problem, Parzyck said, is that coin collecting is done with discretionary income. Hobby spending is down now, and that means collectors are being very specific and targeting only those coins they know they want.

Crowds Sunday at the Howard Johnson Inn in Rib Mountain were typical of the annual event, dealers said, but the two dozen dealers weren't selling as much as they normally do.

Even though coin collections are good investments, Parzyck said, most people collect coins because they are passionate about history and like the challenge.

As those people spend less, their value in the coin selling market is, on some level, being taken up by gold and silver buyers worried about the economy, Parzyck said.

But those metals are selling for very high prices right now, and Parzyck said he doesn't understand why people would buy. Gold sells for about $870 an ounce and silver for $12 an ounce, Schiller said. A few years ago, gold sold for about $250 an ounce and silver for $5.

"Nine times out of 10, it's people worried about their investments," Parzyck said. "If (I) had a lot of money, I would be buying stocks."
Source: wausaudailyherald.com

Tomb of the century

A joint Egyptian and Dominican Republic archaeological mission working at Taposiris Magna, an area of great archaeological importance on the Mediterranean coast west of Alexandria and site of a temple dedicated to the god of prosperity, Osiris, and a number of Graeco- Roman catacombs, has discovered several Ptolemaic objects dating back to the reign of the famous Queen Cleopatra.

The team was searching the site in the hope of locating the tomb of Cleopatra VII and her lover Mark Anthony. Excavation work in the area began two years ago, as it was believed that the famous couple had dug their tomb in an area some distance from Alexandria in order to be out of reach of their enemies.

Zahi Hawass, secretary-general of the Supreme Council of Antiquities (SCA) and head of the archeological team, said the find fuelled the belief that early historians were able to describe the tomb of Alexander the Great (who ruled Egypt 332-323 BC) but made no mention of a name or a description of a tomb for either Cleopatra or Mark Anthony.

This year the team found a large and previously unknown cemetery outside the temple enclosure. So far it is known to contain 27 tombs; 20 of them shaped like vaulted sarcophagi, partly underground and partly above ground, and the remaining seven consisting of staircases leading to simple burial chambers. Inside the tomb were found 10 mummies, two of them gilded.

Hawass pointed out that the discovery of this cemetery indicated that an important person, probably of royal status, could be buried inside the temple. It was common throughout the Pharaonic period for officials and other high-status individuals in Egypt to construct their tombs close to those of their rulers. The style of the newly discovered tombs indicates that they were constructed during the Graeco-Roman period.

The deputy head of the Dominican Egyptian mission, Kathleen Martinez, said the expedition had excavated a temple at Taposiris Magna dedicated to the goddess Isis and had discovered coins depicting the face of Alexander the Great. The team had found a number of deep shafts inside the temple, three of which seemed to have been used for burials. It is possible that these shafts were the tombs of important people, and the team's leaders believe that Cleopatra and Mark Anthony could have been buried in a deep shaft similar to those already discovered inside the temple.

Hawass said that the expedition had so far found a beautiful head of Cleopatra, along with 22 coins bearing her image. The statue and the coins show her as a beauty, contradicting past indications that she was not particularly pretty. The finds from Taposiris reflect a charm that could have captured the hearts of Julius Caesar and Mark Anthony, and indicate that Cleopatra was in no way unattractive. Moreover, the features of the sculpted head show no sign of African ancestry, contradicting a recently advanced theory. The team has also found many amulets, along with a beautiful headless statue dating to the Ptolemaic Period. Among the most interesting finds is a unique funerary mask depicting a man with a cleft chin. The face bears some similarity to known portraits of Mark Anthony himself.

A radar survey of the temple of Taposiris Magna, west of Alexandria, was completed in collaboration with American expert Roger Vickers serving as a consultant. The radar revealed three possible spots of interest where a tomb might be located. The expedition has received the results of the survey, and will begin excavating each of these three spots next week.

"This could be the most important discovery of the 21st century," Hawass told Al-Ahram Weekly. "This is the perfect place for Cleopatra and Mark Anthony to be hidden." Last year, the team unearthed an alabaster head of Cleopatra and a mask thought to be of Mark Anthony, as well as an alabaster statue of the goddess Aphrodite and a headless basalt statue of a royal Ptolemaic figure. Inside the temple a number of 50-metre deep tunnels and corridors have been found leading to the temple's foundation stones. They reveal that it was built during the reign of Ptolemy II (281-246 BC). With them were found 20 bronze coins dating from the reign of Cleopatra.

The classical Taposiris Magna, now called Abu Sir, was known in the Pharaonic era as Po- Osiris, which means the place of the god Osiris. Under the Graeco-Romans this was shortened to Posiris. It was believed to be where Isis buried the 14th part Osiris's corpse after he had been killed and his body scattered by his evil brother Set. Further excavation is now on hold until November.
Source: weekly.ahram.org.eg

London 2012 - “Impressive” Progress , New Olympic Coin

Denis Oswald, head of the International Olympic Committee (IOC) Coordination Commission inspecting preparations for the London 2012 Summer Olympic Games, said London was ahead of previous host cities in its preparations and had made impressive progress in the last year.

Oswald, chairman of the IOC's Coordination Commission, told reporters during a three-day visit to the city, "we have a stadium, we are sure. It was not necessarily the case in some of the previous Games. So it's very relaxing. I must say having been here in May last year I am very much impressed how much work has been done. I'm also impressed by the concept".

The stadium costs about 540 million pounds, almost double the original forecast, and will have a capacity of 80,000 during the Games before the top tiers are removed and it is scaled back to 25,000 seats.

No decision has yet been made as to what the stadium will be used for once the Games are over, although Reuters reports it will house a school and a National Skills Academy.

Now that the big five venues - the stadium, Velodrome, Aquatics Centre, Village, and Broadcast and Media Centre - are underway, the IOC's main concern will be to assess the soaring costs of the project and the impact of the credit crunch, reports Reuters.

Meanwhile, the Royal Mint has produced a collector's coin in the countdown to the 2012 Games. The gold and silver versions of the coin are reportedly the first UK five-pound coins to feature the Olympic rings and logo in full colour, said the mint.

The coin has images of swimmers racing to the finishing line, and the border design represents the Olympic Stadium in east London as seen from above.

A new coin in gold, silver and cupronickel will be launched each year until the Games begin.
Source: gamesbids.com