NGC to begin details grading

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

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

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

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