Book on numismatics released in Azerbaijan

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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