Numismatic News

Government Moves To Keep $3M in Liberty Dollars

Fri, 4 Jul 2008 12:05:08 -0400

Government Moves To Keep $3M in Liberty DollarsThe Justice Department is seeking to permanently keep more than $3 million in coins that were struck by anti-government activists who aimed to create a new currency to compete against the greenback.

In court papers filed in federal court in North Carolina, federal prosecutors say that they need another six months to complete their criminal investigation of the citizens who play a leading role in popularizing the alternative currency, known as the Liberty Dollar.

A prosecutor for the U.S. attorney's office in Asheville, N.C., Thomas Ascik, also sought an order that would give the government title to the more than 7 tons worth of gold, silver, and copper Liberty Dollar coins that the government seized last year in raids in Indiana and Idaho, according to court papers. Just last week, a dozen Liberty Dollar supporters filed suit in U.S. District Court in Idaho demanding the return of the seized coins.

Bowers and Merena to present nearly 1,300 lots at Baltimore Rarities Sale prior to ANA

Fri, 27 Jun 2008 17:36:30 -0400

Bowers and Merena to present nearly 1,300 lots at Baltimore Rarities Sale prior to ANA

Bowers and Merena Auctions, America's leading rare coin auction house, will host their Baltimore Rarities Sale in July at the Baltimore Marriott Waterfront, just prior to the ANA World's Fair of Money. The auction of nearly 1,300 lots will be presented on Saturday, July 26, with lot viewing scheduled for Thursday to Saturday, July 24-26, and lot pick-up on Sunday, July 27. The catalog includes approximately 1,100 coin and 200 currency lots.

At the top of the highlights list is an impressive 1866-S No Motto Liberty Double Eagle graded MS-60 by NGC. It is described as a High Condition Census example, one of only three Mint State examples known to PCGS and NGC, and the type of Mint State rarity that is not often available to collectors for purchase. Although Winter and Crum were unaware of any Mint State examples of the 1866-S No Motto in numismatic circles, PCGS and NGC have since certified a few coins at that level. The total is limited to just three pieces, however, the finest of which grades only MS-61. Clearly a very rare coin from both absolute and condition standpoints, the BU example that Bowers and Merena is offering represents a fleeting bidding opportunity for the advanced collector of 19th century U.S. gold coinage.

Quote:
"Bowers and Merena just returned from a very successful June auction in Baltimore where we realized over $6.2 million, and there was already a lot of talk and enthusiasm among attendees to return to Baltimore in July," said Steve Deeds, president of Bowers and Merena. "We have a fantastic selection of very special coin and currency lots and we are looking forward to presenting an exceptional rarities auction that serious collectors will really appreciate."

Additional highlights of note include an 1808 Capped Bust Left Quarter Eagle, BD-1, HBCC-3017, the only known dies, Rarity-4, graded MS-61 by NGC. This is an elusive and significant One-Year Type, one of no more than 150 Capped Bust Left Quarter Eagles that are estimated to remain to meet the demand of both early gold specialists and type collectors, the latter group, in particular, representing an ever-growing segment of the numismatic market. Also, notable is a lovely prooflike 1795 Capped Bust Right Half Eagle, Small Eagle, BD-8, HBCC-3041, Miller-10, Rarity-5+, graded MS-63 PL by NGC, a nice coin, and a rarer die pairing of this historically significant and extremely popular federal gold issue.

Japan to mint coins featuring Tale of Genji, Iwami silver mine

Fri, 27 Jun 2008 16:43:25 -0400

Japan to mint coins featuring Tale of Genji, Iwami silver mine

The Japanese government is creating 94 types of commemorative 500 and 1,000 yen coins, including special coins for each prefecture. The designs for Kyoto and Shimane (pictured) were announced by Finance Minister Fukushiro Nukaga.

The 1,000-yen coins for Kyoto and Shimane will be sterling silver, weigh 31.1 grams and measure 40 millimeters in diameter. The government will mint a total of 100,000 of each coin.

The Kyoto coin features a scene from the classic work penned by Murasaki Shikibu (Lady Murasaki), depicting romances among members of the court in medieval Kyoto.

It will be issued before the millennial anniversary Nov. 1 of the Tale of Genji, which first appeared in recorded history in 1008.

The Shimane coin will be minted to celebrate the addition last year of the centuries-old Iwami silver mine to the World Heritage List of the U.N. Educational Scientific and Cultural Organization.

The reverse side of the coins will have a uniform design for all 47 prefectures, featuring snow crystals, cherry blossoms and a crescent moon.

These will be among 94 types of 500- and 1000-yen coins for each of Japan's 47 prefectures that will be released over the next eight years to commemorate the 60th anniversary of the going into force of the Local Autonomy Law, according to the Finance Ministry.

The government decided on the design of the two coins after releasing the Hokkaido coin in time for this year's July 7-9 Group of Eight summit to be held in the Lake Toya resort area there.

Stack's Offers the Vincent Collection on July 10

Fri, 27 Jun 2008 16:32:14 -0400

Stack's Offers the Vincent Collection on July 10

Quality United States coins from Colonials to Patterns will be highlighted in Stack's July 10, 2008 sale of the Vincent Collection, held at the Schaumburg Renaissance hotel, Schaumburg, Illinois in conjunction with the MidAmerica Coin Expo. Among the 385 lots are such early copper rarities as an 1804 Sheldon 266c Large Cent in Fine-12 (PCGS); Lincoln Cents include the 1914-D in MS-66 BR (NGC) that is tied for the finest graded by NGC.

Silver Half Dimes feature an 1840 No Drapery in MS-67 (NGC, CAC); among popular Mercury Dimes is a 1921 in MS-67 (NGC) that is among the finest extant examples. Sure to attract bidder attention if a Cameo Proof 1910 Barber Quarter in PF-68* Cameo (NGC); Barber Half Dollars are highlighted by the John J. Pittman example of the 1907=-D in MS-68 (CAC, NGC); Liberty Seated Silver Dollars include n 1854 in Proof-64 (NGC).

Morgan Dollar collectors will note an 1880 in Proof-68 CAMEO (NGC) and n 1880-S in MS-69 (NGC) toed for finest certified by that leading service; the second-finest Deep Mirror Prooflike 1893-O appears in MS-64 DMPL (NGC); later dates feature an 1896 in Proof-68* ULTRA CAMEO (NGC). Proof Gold includes an 1899 Quarter Eagle in Proof-65 DCAM (CAC, PCGS. Among outstanding Gold $3 is an 1880 in MS-65 (NGC); early Half Eagles include 1802/1, Bass-Dannreuther 8 in MS-62 (CAC, PCGS); early Eagles are led by a 1798 BD-10 in MS-63 (CAC, PCGS); Saint Gaudens Double Eagles include a Gem 1915 in MS-65 (NGC), tied for finest known.

The Vincent Sale is very well represented by rare and choice American paper from the Colonial era to modern times. A brief, but attractive, selection of Continental Currency and Colonial American notes is followed by a fine selection of United States Obsolete Currency from the outstanding Q. David Bowers Reference Collection. The initial offering of obsolete notes from the Bowers Collection was an important event last October in Atlanta. The great interest in rare, historic and artistic obsolete notes was further flattered in our recent May Minot Sale where several notes broke the five-figure mark, an achievement considered next to impossible less than three decades ago.

Proof 1938 Jefferson Nickel With Serif Spotted

Thu, 26 Jun 2008 21:20:04 -0400

Proof 1938 Jefferson Nickel With Serif Spotted
A new variety of the proof 1938 Jefferson nickel has been announced by Michael S. Fey, Ironia, N.J.

The coin has a serif at the lower end of the "S" in TRUST as compared to no serif on the previously known examples.

Fey made the announcement after researching the coin first shown to him by an unidentified collector Dec. 1, 2007, at the Bay State show in Boston.

"I never forgot the collector, or the two 1938 proof Jefferson nickels that he showed me. When I found the differences he pointed out to me on two coins in my inventory, I decided it was too important a discovery not to pursue further."

There were several other differences in the look and thickness of the serifs and on the numerals in the date to make me believe that this was significant enough to seek other expert opinions, Fey said.

Quote:
"After comparing these 1938 proof coins to business strikes of 1938 and 1939 nickels, my first thought was that the coin without the extra serif on the ‘S' was more closely related to an obverse of 1938, and that the one with the extra serif was more closely related to an obverse of 1939#8243;

NGC-Certified Millennia Collection Breaks Records

Thu, 26 Jun 2008 21:09:04 -0400

NGC-Certified Millennia Collection Breaks Records
Auction sales exceed $23 million

On May 26, 2008, Ira & Larry Goldberg Coins & Collectibles sold the Millennia Collection, the most valuable collection of World coins to cross the auction block in a single day. Total prices realized were $23,024,765. The entire collection was certified by NGC.

The Millennia Collection was built during a five-year collaboration between Ira and Larry Goldberg and their anonymous customer. Together they sought to build a collection that illustrated the changing nature of money and the circumstances that shaped World coinage throughout 2,500 years of history. They acquired large and beautiful coins that were the best representatives from their respective time periods, always choosing examples that were among the finest available. Most importantly, each coin type selected for inclusion had to tell a story. The collection served as the subject for their recent book, Money of the World: Coins That Made History.

When it came time to sell, the collection was submitted in its entirety to NGC. According to Larry Goldberg, "One of the most important factors in selling the Millennia Collection was having the coins graded by NGC. It gave confidence to our buyers to know that the coins were genuine and accurately graded. The grading was very consistent and Ira and I were very happy with the service provided by NGC. If and when I ever get a similar collection, there's only one place I would go. NGC. Period."

Ken Krah, NGC Vice President and head of World coin grading, comments that "It was an honor to grade such a significant collection, and I'd thank the Goldbergs for selecting NGC. The overall quality coin-for-coin in this collection was the finest I've seen in my 20 years at NGC."

Along with participation via phone and Internet, numerous bidders were in attendance, and heavy bidding activity extended the auction from 10 am until late in the night. Rob Freeman of Freeman & Sear, a top bidder on several of the NGC-certified ancient lots, commented that he had "never seen such an auction that was so strong all across the board." Lance Tchor of Federal Coin and Bullion, commented more succinctly, "It was the holy grail of World coin auctions."

The 1,000+ lot auction saw hundreds of record prices set . The highest price of the sale was for a Severus Alexander Gold Aureus with Colosseum reverse, NGC About Uncirculated, which realized $920,000. A Mexico 1714MO J Royal 8 Escudos realized $310,500. Russian coinage saw several records including a 1705 Peter I Novodel Ruble NGC MS63 which realized $391,000. A Greece 1876A 100 Drachmai NGC PF64 realized $218,000. More coins are available for viewing in the Millennia Gallery on NGC's Web site.

Along those lines, Larry Goldberg notes: "Millennia is a very important pedigree and will stay forever with the coin."

From the Grading Room: Matte Proof 1925-S California Half Dollar

Thu, 26 Jun 2008 21:01:21 -0400

From the Grading Room: Matte Proof 1925-S California Half Dollar

Recently certified by NGC is this previously unreported Matte Proof 1925-S California Half Dollar. This coin commemorates the 75th anniversary of California's statehood, and features two motifs which embody California of the 1850's: a gold prospector and a grizzly bear.

Matte proof commemorative half dollars were specially prepared for presentation although in most cases very little documentation exists to illuminate their true purpose. The design, rim, and notably the legends on this coin are very crisply struck, much more so than on a business-strike example of the issue. Inherent of proof coinage of this type, it does not possess reflective luster; rather the entire design has a very uniform appearance. Matte proofs allowed designers to showcase the design elements of the coin, and were "fashionable" during the early Twentieth Century.

From the Grading Room is an occasional feature on this site in which we highlight some of the unusual, interesting, and special coins submitted to NGC for certification.

Perth Mint Releases the First Australian Stamp-Shaped Coin

Thu, 26 Jun 2008 10:18:31 -0400

Perth Mint Releases the First Australian Stamp-Shaped Coin

Always ready to take on new minting challenges, The Perth Mint has pulled off another innovative first. We believe our stamp-shaped silver proof release, which celebrates the Australian Olympic Team's participation at Beijing 2008, is the first Australian coin to replicate an official Australia Post stamp. As well as this ground-breaking release, the latest newsletter has an important reminder for Silver Proof Lunar collectors and features a new range of gold coin pendants depicting Indigenous art.

Australia Post is celebrating the participation of the Australian Olympic Team at Beijing 2008 with this innovative pure silver stamp-shaped coin struck by The Perth Mint.

Proof Quality 99.9% Pure Silver

Authorised by the Australian Olympic Committee, the 2008-dated coin is produced from 1/2oz of 99.9% pure silver in proof quality.

Coloured Reverse Design

The first Australian coin to replicate an official Australia Post stamp, the release depicts the Australian Olympic Committee's official Olympic ‘Flag and Rings' logo in colour, the 50c monetary denomination and The Perth Mint's ‘P' mintmark on the top. A vividly coloured image of a traditional Chinese dragon appears on the bottom, together with the words ‘Beijing 2008' and ‘AUSTRALIA'.

Australian Legal Tender

Issued as legal tender under the Australian Currency Act 1965, the coin portrays the Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II on the obverse.

Includes Actual Australia Post Stamp

The coin comes with Australia Post's actual 50c commemorative stamp.

Presentation Packaging

The coin and stamp are housed in a black presentation case incorporating an upright display plinth. The presentation case has a red and white cover displaying the Olympic 'Flags and Rings' logo and a Chinese dragon superimposed with the words '2008 OLYMPIC GAMES BEIJING'.

Numbered Certificate of Authenticity

The coin is accompanied by a numbered Certificate of Authenticity.

Limited Mintage

Australia Post will release no more than 8,000 of these pure silver coin and stamp sets as historic mementos of the first Olympic Games to be held in China.

Europe Taler - World's Largest Silver Coin from The Austrian Mint

Wed, 25 Jun 2008 18:38:43 -0400

Europe Taler - World's Largest Silver Coin from The Austrian Mint

Canada may have the largest Gold coin, but the Austrian Mint has just released the Worlds Largest Silver Coin, the Europe Talar. Weighing in at 20.08 kg (aprox. 44 lbs.), and with a diameter of 36 cm (14 inches); it is big!

The obverse of the taler features a classic look and corresponds to the time of Maximilian in 1508. It shows the newly crowned emperor mounted in armour on a horse; in his hand he holds a banner with the imperial symbol, the double eagle.

The reverse has a more contemporary look and depicts a montage of famous Europeans including religious icon Martin Luther, and continuing with composer Antonio Vivaldi, inventor James Watt and Nobel Peace prize winner Bertha von Suttner.

The Europe Talar will be limited to Special Orders. Prices have not been announced yet.

However, Region Hall-Wattens and the Austrain Mint have set up a website for additional information on the Europe Talar in addition to offering a collectors version of the coin, weighing in a at 120 grams of fine silver with a diameter of 6cm. The collectors coins will cost € 108.– + VAT.

Visit the website at http://www.europataler.at

This new site also provides some background on the Europe Talar.

The design of the coin and the realization of the coin images originate from the medallion maker Herbert Wähner, who is also very well-known in expert circles. The packaging of the "silver giant" will be produced by the Hall master wood turner Werner Nuding from 500-year old wood from Castle Hasegg, which was unearthed during renovations in 2007.

The Perth Mint - New Product Releases

Wed, 25 Jun 2008 18:25:52 -0400

The Perth Mint - New Product Releases

FIRST AUSTRALIAN KOALA GOLD PROOF COIN SERIES
The Perth Mint is proud to announce an iconic new series of proof quality 99.99% pure gold coins.

Introduced in response to collector desire for an Australian gold coin series depicting the Mint's popular koala design theme, these stunning numismatic releases are meticulously struck in proof quality.

Available in three denominations, the Australian Gold Proof Koala is the first Perth Mint series to include a 1oz ‘high relief' coin. The spectacular release is struck on a significantly thicker blank to accommodate the greater design depth on its specially prepared die.

A mother and baby koala sitting on a tree branch are depicted on the reverse of each coin. The design, which also incorporates The Perth Mint's ‘P' mintmark, is struck in ‘high relief' on the 1oz coin.

Issued as legal tender under the Australian Currency Act 1965, proof quality Australian Koala gold coins are set to delight the most fastidious collectors into the future with appealing new designs each year.

2008 GOOD FORTUNE GOLD PROOF COIN
Chinese culture is steeped in lucky symbols. This stunning coin, which portrays several symbols of fortune and wealth, also reflects the auspiciousness of the number eight in traditional beliefs.

The centre of the octagonal coin's reverse design portrays a stylised combination of Chinese characters with the literal meaning ‘bringing money and treasures'. Other design elements portray:

- a peony, the ‘flower of riches', in colour
- eight yuan bao, small ingots used in ancient China as money
- a string of eight lucky coins with square holes

In ancient times, the circular shape of such coins was said to represent Heaven, while their square hole symbolised Earth.

Struck by The Perth Mint from 8.88g of 99.99% pure gold in proof quality, the eight-sided coin is issued as legal tender under the authority of the Government of Tuvalu. Housed in attractive presentation packaging, the coin is limited to an extremely limited mintage of just 2,008.

Multi-Million Dollar Redevelopment Of The Perth Mint

Wed, 25 Jun 2008 18:14:32 -0400

MULTI-MILLION DOLLAR REDEVELOPMENT OF THE PERTH MINT
Press Release 06/16/2008

In a move that foreshadows the multi-million dollar redevelopment of The Perth Mint's retail and exhibition facilities, Gold Corporation – the Mint's operator – has appointed Acumen Design as exhibition design consultants.

One of Perth's leading tourism attractions and winner of 11 Tourism Awards since 2000, the 109-year old Perth Mint opened its doors to the public in 1992, and since then it has welcomed in excess of 1 million visitors.

Chief Executive Officer Ed Harbuz said that the time to update visitor facilities was well overdue. "The Perth Mint is an exciting experience for many visitors to the capital of Western Australia. However, the retail and exhibitions areas have changed little since the early 1990s and a radical overhaul is required to ensure it meets modern expectations of interactivity, entertainment and education, while paying heed to the Mint's heritage significance."

The Corporation called for tenders from exhibition design consultants Australia-wide, inviting them to submit creative proposals in response to the brief - "to make The Perth Mint a world-class tourism attraction and a must-do for all visitors to Perth, as well as local residents."

Acumen Design is at the forefront of interpretive design in Australia, creating experiences that take visitors on a journey of discovery and wonder. Notable projects undertaken by Acumen include the Flagstaff Hill Maritime Museum and Night Experience, the Waltzing Matilda Centre, The Australian Stockmen's Hall of Fame, The Koorie Heritage Centre, The Jewish Museum of Australia, The National Capital Centre, the ANZ Banking Museum and exhibits at The National Museum of Australia. Acumen Design Director Tim Hooper said, "The Perth Mint is a wonderful historical building and one of the world's great working mints. This is a golden opportunity to develop breakthrough interpretive experiences and design features that will really make locals and visitors to Perth sit up and take notice."

The Perth Mint redevelopment project, which is currently considering a variety of concepts, is projected to be delivered in phases between 2009 and 2011, and will be entirely self-funded.

For further information:
Alexandra Lucchesi, Public Relations Manager, The Perth Mint
Telephone (08) 9421 7475 Mobile 0423 85 33 99
Email alexandra.lucchesi@perthmint.com.au

Teletrade Auction | Green Holder Collection & Other Rarities

Mon, 23 Jun 2008 20:52:56 -0400

Teletrade to host special Friday Auction June 27, 2008. Features another PCGS Green Holder Collection and other U.S. Rarities... by Ian J Russell on Saturday, June 21, 2008

Teletrade, America's largest fully automated Internet auction company for certified coins and currency, will host a very special Friday online auction on June 27, 2008, in addition to their regularly scheduled three weekly auctions on Sunday, Monday and Wednesday. This is Teletrade Auction 2549 consisting of more than 200 exclusive certified coin lots, and will be live at www.teletrade.com from 3 p.m. to 10 p.m. eastern time. Bidding is open now and the complete catalog is viewable on the Teletrade website. Highlights will be on display this Thursday and Friday at the Summer FUN 2008 Convention in Palm Beach, Fla., Table 411.

This special Friday auction features an amazing selection of certified coins highlighted by another original hoard of PCGS Green Holders, including many Wells Fargo $20 pieces. These will be auctioned alongside a variety of other extraordinary U.S. rarities certified by PCGS and NGC. Highlights include:

Lot 1000 Colonial 1776 $1 Continental Currency Pewter PCGS 55
Lot 1058 $1 Gold 1855C NGC 58
Lot 1059 $1 Gold 1855C NGC 61
Lot 1068 $2.5 Gold 1796 Stars NGC 50
Lot 1073 $2.5 Gold 1854C NGC 62
Lot 1084 $4 Gold Stella 1879 Proof Flowing Hair PCGS 62
Lot 1085 $5 Gold 1806 Round 6 7X6 Stars PCGS 62
Lot 1087 $5 Gold 1813 PCGS 62
Lot 1090 $5 Gold 1838C NGC 58
Lot 1099 $10 Gold 1795 13 Leaves NGC 61
Lot 1100 $10 Gold 1801 NGC 64
Lot 1120 $20 Gold 1873CC NGC 61
Lot 1121 $20 Gold 1895 Proof NGC 65 Ultra Cam
Lot 1194 $20 Gold 1926D PCGS 63
Lot 1196 $20 Gold 1929 PCGS 64
Lot 1199 Territorial Gold 1837-42 64G 22-$2.5 Bechtler NGC 60
Lot 1204 Territorial Gold 1855 Wass, Molitor & Co. $10 PCGS 40
Lot 1205 Territorial Gold 1855 $10 Wass Mol S.S.Central America PCGS 53

Quote:
"Every once in a while Teletrade is just inundated with an exceptional selection of lots, and we are thrilled to be able to offer this special Friday auction to bring them to our customers," said Ian Russell, president of Teletrade. "This is an exciting follow-up to our auction of ‘The Green Holder Collection' on June 1, which was incredibly successful with 100 percent sell-through, and pushed the prices realized for the total auction over $1.1 million. Response to that auction was so overwhelming and it is a special treat to be able to offer even more of these popular Green Holder coins to our collectors."

Design for First U.S. Braille Coin to be Unveiled by US Mint

Mon, 23 Jun 2008 20:39:02 -0400

Design for First U.S. Braille Coin to be Unveiled
US Mint Press Release 06/23/2008

For the first time, United States Mint Director Ed Moy will display in Dallas, Texas, the design for the 2009 Louis Braille Bicentennial Silver Dollar, the first United States coin to feature readable Braille. The unveiling ceremony at AT&T Plaza at the American Airlines Center in Dallas on Wednesday morning, July 2, 2008, will open the National Federation of the Blind's 2008 National Convention. A United States Mint exhibit at the convention from 12 p.m. -2 p.m. CT the same day will allow visitors to examine a coin prototype and read the word "Braille" in Braille code on the prototype's reverse (tails side).

The commemorative silver dollar, authorized by Congress and issued by the United States Mint, honors the bicentennial of the birth of Louis Braille, the creator of the Braille reading and writing system for the blind and people with vision loss. Surcharges from the sale of this collectible coin are authorized to go to the National Federation of the Blind to fund Braille literacy initiatives.

A Federation "March for Independence" will stop briefly at AT&T Plaza at 8:00 a.m. for the unveiling ceremony and then continue to the convention at the Hilton Anatole Hotel, where the coin prototype will be exhibited in the afternoon.

The 2009 Louis Braille Bicentennial Silver Dollar will be available for purchase from the United States Mint in the spring of 2009.

Previously, the Alabama commemorative quarter-dollar, one of the coins in the United States Mint's popular 50 State Quarters® Program, used Braille in the image honoring Helen Keller, but the Braille was too small to be readable by the blind. Also, the 1995 and 1996 Paralympics Silver Dollar featured Braille, but the code was too small to be readable.

United States Mint Director Ed Moy
United States Congressman Pete Sessions
Marc Maurer, President, National Federation of the Blind
Dr. Frederic Schroeder, First Vice President, National Federation of the Blind

DesignUnveiling : Wednesday, July 2, 2008, at 8:00 a.m. CT

United States Mint exhibit: Wednesday, July 2, 2008, at 12:00 p.m. - 2 p.m. CT

Unveiling: AT&T Plaza, American Airlines Center, Dallas, Texas

Exhibit: National Federation of the Blind 2008 National Convention
2201 Stemmons Freeway, Dallas, Texas 75207

Contact: Press inquiries: Genevieve Billia 202-354-7904
Customer Service information: (800) USA MINT (872-6468)

Treasure Fever! Sedwick's Treasure Auction #3 hits $800,000

Sat, 21 Jun 2008 13:23:34 -0400

Treasure Fever! Sedwick's Treasure Auction #3 hits $800,000

Winter Park, FL Treasure Fever has struck again! Expert numismatist and auctioneer of shipwreck coins and artifacts Daniel Frank Sedwick has released the results of his Treasure Auction #3. This mail-bid auction surpassed predictions by grossing over $800,000 ($700,000 + 15%), with an unprecedented 92%+ of the lots sold. Consignments for Sedwick's next auction (Treasure Auction #4) in the fall of 2008 are already pouring in.

One of the top highlights of the sale was a rare mariner's astrolabe that sold for $28,750.00 (with buyer's premium). Other major highlights include a Lima, Peru, cob 8 escudos of 1703 that sold for $17,250 and a Cartagena, Colombia, cob 2 escudos of 1622 (the first gold coin struck in the New World) that sold for $23,000 (both prices with buyer's premium).

The entire offering of Spanish colonial gold cobs in this auction (mainly from the 1715 Fleet) hit close to a quarter million dollars, one of the biggest auction sales of treasure gold cobs offered in the last several decades. This marks a trend in gold-cob prices. "The market had a very positive reaction… collectors are increasingly eager for choice gold cobs and we can provide the best selection at competitive prices," says Sedwick, who also pointed out that a similar offering will appear in his next auction in the fall.

A big surprise for collectors was an offering of ca.-1528 shipwreck silver "tumbaga" bars, which before this auction had an average price among collectors of about $3,000 each, yet the 14 bars on offer averaged over $7,000 each (including commission), with one specimen exceeding $10,000. This reflects a new appreciation for these artifacts.

Quote:
"I believe these rare ingots are simply achieving a realistic value among collectors. I'm glad everyone is starting to realize the historical importance of the silver "tumbaga" bars; with a soon-to-be-published study I expect that prices may keep going up," says Sedwick's assistant (and fellow numismatic author) Augi García.

As always, shipwreck silver coins comprised the bulk of the sale, representing over 40 different wreck sources. "The variety and quality we are delivering to the treasure community has been well received. We hope to continue to see the bidding participation of collectors from other areas, like we have already seen from US coin collectors now interested in treasure coins," says Sedwick.

Among the rest of the coin offerings in the auction was a substantial collection of Spanish colonial milled 8 reales of all different types and most of the mints, including some scarce Mexican War for Independence issues. Augmenting this collection were several consignments of silver cobs from the various colonial mints.

Treasure Auction #3 also featured about 233 lots of artifacts, most of which fetched high prices too. One of the best examples of the artifacts' passionate bidding activity was a gold cross from the 1715 Fleet that sold for $19,550, as well as a gold "money" chain that hit $16,100 (both pieces including buyer's premium). "Treasure artifacts like these simply aren't available at auction on a regular basis anywhere else," Sedwick points out.

DLRC Auctions to Offer Over 100 DGS Coins in Auction this Week - Highlighted by Proof-45 Gobrecht Dollar

Fri, 20 Jun 2008 15:01:02 -0400

DLRC Auctions to Offer Over 100 DGS Coins in Auction this Week
Highlighted by Proof-45 Gobrecht Dollar
Over 1500 Coins Submitted in the first 45 Days

Virginia Beach, VA. Dominion Grading continues to reach important milestones as they establish themselves as respected third party graders in the numismatic community. According to President, John Feigenbaum, "We've now received over 1500 coins for grading, with a minority of those coming from our sister company, David Lawrence Rare Coins. We are very careful when grading all coins that are submitted and take great care to ensure that each DGS certified coin will stand on its own in the marketplace. The numismatic community is quickly becoming aware that our grading is conservative and consistent. Submitters have been very happy with the quality of our work."
Expectations have been exceeded at DGS with the receipt of over 1500 coins in the first 45 days of grading. Feigenbaum continues, "It's important to understand that we are not grading multiples of anything so far. Every submission has included a variety of different coins and our graders are really enjoying the process. It would be easy to grade a bag of silver dollars, or rolls of Lincoln cents, but on average we're getting 10 different coins in an 11 coin submission."

DLRC Auctions offering over 100 DGS Slabs this week
For the first time ever, there is a concentration of DGS slabs in a single auction at www.davidlawrence.com. The Internet Only auction, which closes Thursday, June 26, is highlighted by a choice XF45 Gobrecht dollar. In addition, there are many coins valued from $25-$5000 including a collection of early Walkers and better date Morgan dollars in XF-Uncirculated grades.
DGS Sample Slabs Available On Request
A limited number of 2000-D Virginia Statehood quarters are being made for sample purposes. To request a sample DGS slab, please email service@dominiongrading.com, or call
1-800-277-2646.

Dominion Grading Service
PO Box 2388
Virginia Beach, VA 23450-2388
Toll Free: 1-800-277-2646
Fax: 888-719-9739
www.dominiongrading.com
email: info@dominiongrading.com

Designs Unveiled for New Native American $1 Coins

Fri, 20 Jun 2008 14:25:20 -0400

Designs unveiled for new Native American $1 coins
To be Released in 2009

WASHINGTON - A U.S. Mint advisory committee has recommended a new $1 American Indian coin design that officials hope will soon complement the flip side of the famous Sacagawea coin.

The Citizens Coinage Advisory Committee, which is responsible for advising the secretary of the treasury on themes and designs pertaining to U.S. coinage, reviewed 15 design candidates June 18 and selected a creation portraying a female American Indian figure planting seeds in a cornfield.

Another popular design, which came in second place, featured three female Indians surrounded by squash, corn and beans. It represented the traditional Native "Three Sisters" system of planting the crops, which tend to supplement each other when grown in the same location.

In consultation with the National Museum of the American Indian and other Native groups, the Mint decided to focus on Indian agricultural achievements for the first year of its Native American $1 coin program, which will officially launch in 2009.

Mitch Sanders, chairman of the committee, said he was impressed by the quality of designs and hopes that the ultimate selection will be a symbol of pride for American Indians. He also wants the coins to help convey important knowledge about Indian history and culture to more Americans.

"What ended up carrying the day for our selection was how clearly it represented the theme of Native Americans and agriculture," Sanders said. "We liked its aesthetic appeal and the fact that a Native American woman is shown being strongly involved in agriculture."

The program results from the Native American $1 Coin Act, adopted by Congress in 2007, which requires "the secretary of the treasury to mint and issue coins in commemoration of Native Americans and the important contributions made by Indian tribes and individual Native Americans to the development of the United States and the history of the United States, and for other purposes."

The law also mandates that at least 20 percent of all $1 coins minted and issued in any year be Native American $1 coins. Five distinct $1 coins will be issued each year starting in 2009 - four Presidential $1 coins and one Native American $1 coin.

This year's design finalists were created by Mint artisans and participants in the agency's artist infusion program. To keep the process unbiased, no members of the committee were allowed to know which artist designed any of the coin candidates.

One American Indian, Rita Laws, Oklahoma Choctaw, sits on the 11-member committee. Officials with the Senate Committee on Indian Affairs, the Congressional Native American Caucus of the House of Representatives, and the National Congress of American Indians have been consulted throughout the evaluation process.

The U.S. Commission of Fine Arts will soon review the designs, and then its recommendation, along with that of the coinage committee, will be taken into consideration by Treasury Secretary Henry Paulson before he makes a final decision. The coins then will be set for minting and begin circulation in 2009.

No matter what design is ultimately chosen, the obverse side of the coin will retain the central figure of the Sacagawea design first produced in 2000 and will contain the inscription "Liberty".

The coinage committee also recommended a minor tweak to the Sacagawea coin: moving the date from the face of the coin to the edge of the coin.

Like the Presidential $1 coins, the Native American $1 coins are expected to keep their golden color and distinctive edge, and feature edge-lettering of the year, mint mark, "E Pluribus Unum" and "In God We Trust".

Whatever reverse design is chosen for 2009, it will not be permanent. It will change each year to celebrate important contribution of Indian tribes or individual Native people, but will continue to contain the inscriptions "$1" and "United States of America".

Sanders said he hopes these changing themes will help popularize the Sacagawea dollar in the same way that the 50-state coin program has done for quarters.

Until the conclusion of the Presidential $1 coin program, Mint officials said the Native coins will be issued in chronological order of the events or persons being featured on the reverse design. And after the completion of the Presidential $1 coin program, the Native American $1 coin program will continue.

The Mint plans to continue to produce Native American $1 coins so that the total quantity of $1 coins minted and issued for circulation is sufficient to meet the needs of the nation.

The Mint is currently preparing a timeline of events and personal contributions of Native peoples for themes for the program until at least 2016. This timeline will then be used to create new candidate designs for consideration in ensuing years.

Government Is Sued Over Seizure of Liberty Dollars

Fri, 20 Jun 2008 10:59:42 -0400

Government Is Sued Over Seizure of Liberty Dollars
By JOSEPH GOLDSTEIN for the New York Sun

The federal government's attempt to stop a group of gold-standard activists from minting an alternative to the greenback is about to face its first legal test.

A dozen people around the country filed suit in U.S. District Court in Idaho this week demanding the return of all the copper, silver, gold, and platinum coins — more than seven tons of metal in all — that the FBI and Secret Service seized in November during raids of a mint in Idaho and a strip mall storefront in Indiana.

The Justice Department had decided that the coins, many of which bear the familiar symbol of Lady Liberty and the phrase "TRUST IN GOD," were being illegally marketed as government-sanctioned currency, according to the sworn affidavit of an FBI agent.

The creator of the coins, Bernard von NotHaus, who lives in Miami, claims that the federal government is trying to shut down production of his liberty dollars, as the coins are called, because of the competition they pose to the greenback. In recent years, his precious metal coins have outperformed the dollar, whose value has plunged in relation to gold.

The raids in November were the result of a two-year undercover investigation of Mr. Von NotHaus and how he sold liberty dollars. The Justice Department has not followed up with any criminal charges against Mr. Von NotHaus or the regional distributors of his coins.

In the suit filed in Idaho, the various plaintiffs say the federal government has no right to continue holding onto their coins any longer.

Royal Canadian Mint's 25-Cent Breast Cancer Coin Honoured

Fri, 20 Jun 2008 10:18:39 -0400

Royal Canadian Mint's 25-Cent Breast Cancer Circulation Coin Honoured By Minting Industry Peers At The 25th Annual Mint Directors Conference
Press Release from www.mint.ca

Ottawa, Ontario, June 19, 2008 – The Royal Canadian Mint received a welcome accolade from its peers when the Mint Directors Conference, holding its 25th annual meeting in Busan, Korea, presented it with the Most Technologically Advanced Circulation Coin Award for its 25-cent breast cancer coloured circulation coin. This is the second honour earned by this inspirational and innovative circulation coin, which was previously recognized in May 2007 as the "Best New Coin" by the International Association of Currency Affairs.

Quote:
"The Royal Canadian Mint makes a great effort to be the best Mint in the world and it is immensely rewarding when our efforts are validated by our peers" said Ian E. Bennett, RCM President and CEO. "I welcome this award as the Mint marks its centennial year, and as my fellow employees and I proudly celebrate a century of innovation and achievement."

The 25-cent breast cancer circulation coin features the iconic pink ribbon, the symbol of hope and awareness in the effort to create a future without breast cancer. Thirty million breast cancer coins entered into circulation beginning on April 1, 2006. These were the second coloured circulation coins to be produced by the Royal Canadian Mint's Winnipeg facility, following the popular 25-cent poppy coin in the fall of 2004. Considered one of the most innovative mints in the world, the Mint has pioneered and perfected the technology process to apply colour to circulation coins.

About the Mint Directors Conference
The Mint Directors Conference (MDC) was organized for the purpose of exchanging information on all monetary matters and related legal, economic, technical, administrative and numismatic questions of interest to the minting industry. The MDC provides a forum for co-operating on the study of current issues and mutually agreeable solutions. The MDC also promotes study and research into all coin-related matters, including the implications of new means of payment.

About the Royal Canadian Mint
The Royal Canadian Mint, which is celebrating its 100th anniversary in 2008, is the Crown Corporation responsible for the minting and distribution of Canada's circulation coins. An ISO 9001-2000 certified company, the Mint is recognized as one of the largest and most versatile mints in the world, offering a wide range of specialized, high quality coinage products and related services on an international scale. For more information on the Mint's history, its products and services, please visit www.mint.ca.

For more information, please contact:
Alex Reeves
Manager, Communications
Telephone: (613) 949-5777
Mobile: (613) 884-6370
reeves@mint.ca

Flea Market Yields Charles Schwab Gold Treasure

Fri, 20 Jun 2008 09:48:06 -0400

Flea Market Yields Charles Schwab Gold Treasure

Penny McKim is an antiques hobbyist who considers herself a skilled treasure hunter. So when she came across a shoebox full of coins and medals at a church flea market in Montgomery County, she had an idea she'd struck gold.

Turns out that $5 box contained three ounces of gold in the form of a distinctive medal presented in 1928 to Charles M. Schwab, the man who built Bethlehem Steel into a world titan.

"It's rather ironic," said McKim, of Stowe, Montgomery County. "Schwab was a powerful man who ended up dying penniless, yet I'm sitting here with three ounces of his gold."

Exactly what that treasure is worth remains in question and probably won't be known until the day McKim sells her find. She's already heard from gold dealers offering her $1,300 for the right to simply melt down the 14-karat-gold medal and mine it for its Gold Value.

Quote:
"Oh, good heavens, I hope she doesn't allow that," said David Alexander, a medals expert with Stack's, a New York auction house that specializes in rare coins and medals. "I'm quite sure this is a one-of-a-kind piece. It should not be destroyed."

The piece, a Bessemer Gold Medal, was awarded to Schwab by the Iron and Steel Institute of London. Now the Institute of Materials, Minerals and Mining, the trade group has been giving the medal since 1874 to one person each year for outstanding services in the steel industry, said Hilda Kaune, library coordinator at the London institute.

The medal has also been presented to the likes of Queen Victoria and King Edward VII.

Schwab, who led Bethlehem Steel for more than three decades, was given the medal while he was chairman of the corporation and also president of the American Iron and Steel Institute, based in New York.

On one side, the medal features a raised profile of Sir Henry Bessemer, the British inventor who developed an innovative process for making steel. The other side of the piece, which resembles a large, thick coin and is more than 2 inches in diameter, has Schwab's name and the year 1928.

How the medal got away from Schwab's family is anyone's guess. Perhaps Bethlehem Steel's most colorful figure — Thomas Edison once called him a master hustler — Schwab took a small company in south Bethlehem and built it into the world's second-largest steelmaker. It provided steel for everything from the Manhattan skyline to the Golden Gate Bridge to weapons for two world wars.

In the process, Schwab's penchant for women and gambling in Monte Carlo made him an international celebrity. When he got the medal in 1928, he was at the height of his wealth, possessing a fortune some estimated as high as $40 million — the equivalent of about a half-billion dollars today.

But the gambling tables, his risky business ventures and the stock market crash in 1929 gutted his riches. He died in debt a decade later.

Read Full Story | All Recent News

"The Kovach Collection" to be auctioned by Teletrade

Fri, 20 Jun 2008 09:38:39 -0400

"The Kovach Collection" to be auctioned by Teletrade

Teletrade®, America's largest fully automated Internet auction company for certified coins and currency, will auction "The Kovach Collection of Period One & Two California Fractional Gold" on Sunday, June 22, 2008, in online Auction 2546. The auction will be live at Teletrade®'s web site from 3:00pm to 10:00pm Eastern Time and will include more than 1,500 certified coin lots. The complete auction catalog will be viewable on the Teletrade® website beginning Friday, June 13.

1871 25C BG-718 MS-66 (PCGS) California Fractional Gold has a storied history complete with touches of controversy that only adds to the mystique. The tiny small denomination gold pieces were privately issued during the California Gold Rush economy, hand-struck mostly by entrepreneurial San Francisco jewelers, as a result of the Federal government's unwillingness to issue sufficient small denomination coinage.

1875 25C BG-783 MS-65 (PCGS) (ex. Jay Roe) "The Kovach Collection" is listed as the "3rd Finest Set of All Time" on the PCGS Set Registry, retired in June 2007, and Teletrade® will auction more than 75 coins from the set in individual lots. The collection represents Period One, struck 1852-1856, and Period Two, struck 1859-1882.

1875 25C BG-783 MS-65 (PCGS) (ex. Jay Roe) "These tiny coins tell such an intriguing story of California and the Gold Rush, it's easy to see why collectors of Fractional Gold find them so fascinating," said Ian Russell, president of Teletrade®. "This Registry Set is a tremendous accomplishment, and Teletrade® is thrilled to be able to offer these coins to our customers. This collection is truly a part of numismatic history and California history, as well."

Consignor Bill Kovach experienced his first California Fractional gold piece at the tender age of 10 at the coin counter in a downtown Detroit J.L. Hudsons department store. As his enthusiasm for collecting grew into his adult life, he purchased his first CalFract piece in the mid-1980s, a $1 coin, and from there expanded his collection to more than 150 prized pieces. He is now looking forward to sharing his collection with others of similar enthusiasm. "Now it's time for other collectors to have and appreciate these historic gems that I've had the pleasure of treasuring for so long," Kovach said.

Highlights of "The Kovach Collection" include:
1853 50C BG-302 "Peacock" Type MS-62 (PCGS)
1853 $1 BG-531 MS-63 (PCGS)
1871 25C BG-718 MS-66 (PCGS)
1872 25C BG-722 W H MS-64 (PCGS)
1867 25C BG-741 MS-64 (PCGS)
1867 25C BG-742 MS-61 (PCGS)
1875 25C BG-783 MS-65 (PCGS) (ex. Jay Roe)
No Date 25C BG-834 MS-63 (PCGS)
1871 50C BG-1026A AU-58 (PCGS)
1870 $1 BG-1107 MS-63 (PCGS)
1875 $1 BG-1127 MS-64 (PCGS)
1870 $1 BG-1205 AU-55 (PCGS)

ANA Board Acknowledges Lamp of Knowledge as Official Seal

Thu, 19 Jun 2008 16:56:35 -0400

ANA Board Acknowledges Lamp of Knowledge as Official Seal
Press Release 6/19/2008

The American Numismatic Association Board of Governors has voted unanimously to acknowledge that the "Lamp of Knowledge" is and remains the official seal of the Association.

The vote, taken during a conference call on June 2, authorizes the use of the Lamp of Knowledge on certificates, awards, the ANA Federal Charter, Bylaws and Code of Ethics documents. The ANA will continue its use of the current ANA logo for marketing purposes until a new logo is selected by the membership and confirmed by the Board. The current logo, created around the Peace Dollar, has been in use since 2003.

ANA President Barry Stuppler, who has championed the creation of a new logo, announced plans last winter to ask five accomplished medallic artists to develop designs for a new logo. Those designs, which were submitted in April, were to be displayed on the ANA website and published in The Numismatist. Members would then vote on their favorite designs.

"We received some beautiful artwork," Stuppler said. "However, the designs we received would be difficult to use in a variety of ways as required for a logo. As a result, we have decided to seek additional input from artists from a variety of disciplines."

Stuppler said that once artists have been identified and additional submissions received, the membership would be asked to provide input.

"We want to be sure that we make the right decision in selecting a logo for this Association and that the voices of our membership are heard," Stuppler said. Stuppler emphasized that no operating funds will be utilized to develop or implement a new logo. "We will need to raise about $62,000, and no new logo will be implemented until those funds are in hand." He added that the fundraising effort has been seeded with a $2,000 anonymous donation.

Stuppler said the decision to use the Lamp of Knowledge as the official seal recognizes the desire of many members to utilize the time-honored symbol. "It's an important icon to so many of our members," he said. "I think that placing the old logo on official medals, awards and documents is a vital step in responding to the wishes of the membership."

The Lamp of Knowledge was adopted for use by the ANA from the University of Michigan seal. According to an article by ANA Historian Q. David Bowers in the June issue of The Numismatist, it appeared in the ANA magazine as early as 1908.

Coin Market Report - Legend Numismatics: We Have Failed!

Wed, 18 Jun 2008 10:05:23 -0400

Coin Market Report - Legend Numismatics: We Have Failed!
By Laura Sperber of Legend Numismatics

Huh?

Legend is not used to failure, but publicly we will admit we have in two cases. No, its not in our forever fight to rid the business of coin docs (the services are gaining the upper hand in that fight). We blew it on two simple requests from new customers.

One said he'd like a beautiful GEM MS $10 Indian (non 26 or 32), the other requested we help in building a PR65 Barber Half set. These requests were both recent, and we have only found 2 coins for the Barber set and can't find that elusive $10 Indian.

Even with all the access we have to coins and with all of our high power connections we can't locate these coins in NICE condition. We've seen a small handful of junky $10 Indians and we weren't presented with many opportunities on the Barbers. It seems most of the really nice pieces are in solid collector hands. Our standards are strict, but not so insanely strict as to miss the 'right" pieces. It's not like we can find numerous pieces being offered of even junk-nothing is out there. Do NOT be fooled by higher populations-remember there are regrades, crackouts, and possibly far more people collecting than what is graded.

We want collectors to take note of our failures not because it gives the chatroom weenies something else to ridicule us about (which they like to do by mere mention of our names), but because we believe it sends a powerful message as to what is NOT out there and the potential of where the coin market could be heading. These should not be hard coins to find-yet today they are. Routinely in our Market Reports we tell you how dry the shows have become. Here we prove this by our failure to secure the $10 Indian and buy several Barbers for the set we are building.

What does this really mean? PRICES WILL HAVE TO GO UP! These coins, just like all the others we are searching for won't appear unless prices get stronger. This is why when you see a major auction and it has FRESH high grade pieces-they are ALL selling for multiples of what you think they are worth. In cases of true high grade rarities, published prices are bunk and should NOT even be printed (that's a whole other subject we will get into at a later time).

Our Want Lists total tens of millions of dollars currently. This is no exaggeration. If we have a really good show, we'll find a coin or two-not several like we used to. Our contacts know we will step up to the plate and pay strong for the "right" coin. These days, at least in our world, paying strong, is not enough. Soon we will all be paying more as demand clearly outstrips supply! Even the coins we buy purely on spec (which is 90% now vs. maybe 40% five years ago) sell so strong within the first 1-2 weeks of them being listed, we actually now keep a small group held back so we can be assured of a good offering.

DEMAND

Just how big is the coin market? No one knows for sure. Our guess, is currently almost 1 million people buy coins via the web in some form or another (dollars spent does not matter). The internet has clearly opened it up and created an international marketplace so big that great coins seem like they are falling into endless black holes never to be seen again. The top national telemarketing firm has OVER 100,000 customers. The top auction house has SEVERAL hundred thousand registered coin buyers-with at least two other auction houses right behind them. Legend has SEVERAL THOUSAND customers including several of the biggest coin buyers who have ever graced the hobby (remember, in 2007 we did a deal for $30+ million to ONE collector). Only 10 years ago, we had 200 customers and the biggest telemarketers had a few thousand customers-not nearly as huge as they are today. And then you have the unknowns-people who simply buy via the internet in scattered places. We believe that eBay's dominance of the internet has helped bring more people into coins than even the US Mints State Quarter program.

That is partially why the coin market is still thriving during these tough economic times. The demand for true top quality coins have never been stronger. Surprisingly, we do still see new people entering the market. It is clearly proven by the fact you can't just go out and build a collection of your choosing, or even find a coin like a semi better GEM $10 Indian.

We are not hyping things. We are just stating facts as we have experienced them. People like coins. They are probably the most liquid of any collectible and have one of the highest degrees of historical status. That's why so many people in the past 10 years have become real collectors. That's why finding easy coins-has become so hard. And that's why we must stress: PRICES WILL HAVE TO GO UP!

MORPHY/LEGEND AUCTION

We are pleased to announce that our #2 auction is now posted and will go live late Tuesday 6/17. We have THREE small collections included: Three Aces II, the Norwood Type Collection, and the NYS Collection. We also have a killer OLD HOLDER $2.5 Indian Gold set that has been off the market for many years. Plus, we have many small consignments from collectors. We made you this promise early on: Morphy/Legend will NOT have retreads or be Legends dumping site! This division was formed so that our customers have a place where their smaller consignments (don't get us wrong, we can easily handle any world class collection) will get the personal attention they deserve. We also want it to be a place where buyers know they too are treated right (how many major auctions houses can you really leave bids with and comfortable?). And our friends at Morphy's have amazing access to many old time collections as well. Our slogan is: Happy buyers equal happy sellers.

To see the sale, please visit: www.mlcoinauctions.com

FINALLY, A BREAK!

Legend will close its offices the week of July 4th! We need the rest as July will be non stop because of the ANA and what seems like the 1000 auctions around it (yes, we will be attending everyone)!

A SPECIAL THANK YOU!

LEGEND HAD A MUCH STRONGER FIRST HALF OF 2008 THAN WE EXPECTED. WE THANK ALL OF OUR CUSTOMERS FOR CHOOSING TO WORK WITH US. WE PROMISE WE WILL WORK HARD TO MAKE THE REST OF 2008 EVEN BETTER!

2008 Oklahoma Coin and Die Set – Philadelphia Mint Mark Now Available

Tue, 17 Jun 2008 15:11:11 -0400

2008 Oklahoma Coin and Die Set – Philadelphia Mint Mark

The official Oklahoma (P) Coin and Die Set is now available for $34.95! This set includes a completely defaced Oklahoma quarter die, one of the first production Oklahoma quarters struck with that die, and a Certificate of Authenticity numbered to match. To prevent unauthorized reproduction of U.S. coinage, the die's original striking surface image has been removed by the United States Mint to conform to security procedures governing circulating coin die disposition.

Inventory is limited; order your 2008 Oklahoma Coin and Die Set – Philadelphia Mint Mark (P) today!

To ensure that all members of the public have fair and equal access to United States Mint products, any order placed prior to the official on-sale date and time June 17, 2008, 12:00 noon (ET), shall not be deemed accepted by the United States Mint and will not be honored.

SS New York Shipwreck Population Report Released by NGC

Tue, 17 Jun 2008 15:01:17 -0400

SS New York Shipwreck Population Report Released by NGC
A comprehensive population report of all the NGC-graded gold coins from the SS New York is now available. The SS New York operated a light cargo and passenger service between New Orleans and Galveston until it sank during a storm on September 7, 1846.

Coins recovered were conserved by Numismatic Conservation Services (NCS) and then certified by NGC. The newly released population report includes 297 gold coins representing a broad cross-section of coins used in commerce along Gulf of Mexico trade routes during the early nineteenth century.

Download: SS New York Graded Gold Coin Population Report (PDF)

Coins recovered from the SS New York are from Western Europe, South and Central America, and the United States. The US coins include several exemplary condition coins from southern mints.

For example, an 1845-D $2.50 graded NGC MS 64 is the highest graded example of this Dahlonega issue. Other notable examples include an 1844-D $5 NGC MS 63 PL, the only prooflike example of the date to be certified, and two 1844-O $10 NGC MS 63 pieces, tied as the two finest examples of the issue certified.

2008 United States Mint Proof Set® Available June 24

Mon, 16 Jun 2008 16:26:25 -0400

WASHINGTON -The 2008 United States Mint Proof Set® will be available beginning June 24 at 12 noon (ET). There is no order limit for this set, which is priced at $26.95.

The 2008 United States Mint Proof Set includes four Presidential $1 Coins honoring James Monroe, John Quincy Adams, Andrew Jackson and Martin Van Buren and the final five quarters of the 50 State Quarters® Program honoring Oklahoma, New Mexico, Arizona, Alaska and Hawaii. The Lincoln cent, the Jefferson 5-cent coin (nickel), the Roosevelt dime, the Kennedy half-dollar, and the Golden Dollar featuring Sacagawea also are included.

The United States Mint Proof Set-manufactured at the United States Mint at San Francisco using specially prepared, highly polished dies-contains extraordinarily brilliant coins, with sharp relief and a mirror-like background. A frosted, sculpted foreground gives these coins a special cameo effect. The coins are sealed in three presentation cases that are housed in a custom "sleeve." A Certificate of Authenticity is included with each set.

Collectors may purchase the 2008 United States Mint Proof Set, and other numismatic products, at www.usmint.gov, or by calling the toll-free number, 1-800-USA-MINT (872-6468). Hearing- and speech-impaired customers may order by calling 1-888-321-MINT (6468). All domestic orders will be assessed a shipping and handling fee of $4.95 per order.

The United States Mint Proof Set also is available through the United States Mint's Online Subscription Program. For more information about this convenient ordering method, please visit www.usmint.gov.

Note: To ensure that all members of the public have fair and equal access to United States Mint products, any order placed prior to the official on-sale date and time shown above shall not be deemed accepted by the United States Mint and will not be honored.

Royal Canadian Mint to Focus on World Market

Mon, 16 Jun 2008 11:16:29 -0400

Royal Canadian Mint to Focus on World Market
By Doug Andrews, World Coin News

Remaining competitive internationally, leveraging off technology and exploiting opportunities as world metal prices continue to rise will be the objectives of the Royal Canadian Mint, says its president and chief executive officer, Ian Bennett.

The Mint recently announced a record C$30.1 million profit for 2007.

"Our target had been growth, now it is growth and profit," Bennett said. "We doubled our profit last year, which was a great achievement," Bennett noted in an exclusive interview with World Coin News.

The mint's use of its multi-ply plating process for circulating coinage is essential to attracting contracts from foreign governments.

"This allows us to produce coins at much lower cost than other mints, and it is part of our medium term plan, to exploit our competitive advantage as much as we can. Our goals are tough to achieve in this economy and with the rising Canadian dollar, but it's something that we have to strive to do," Bennett said.

Part of the RCM strategy is to invest in replacement of all the presses in its Winnipeg production facility with higher speed equipment, and to expand plating capacity. Since 2005 the plant has doubled its plating volume and has licensed its patented technology to leading suppliers, including Jarden Zinc Products Inc. of Greeneville, Tenn. The Canadian Mint is aggressively pursuing other partnerships in its quest for more foreign business.

Coin Collecting Market Generally Solid

Mon, 16 Jun 2008 11:12:26 -0400

Coin Collecting Market Generally Solid
By Mark Ferguson for COIN VALUES

Nobody can predict the future of the coin market with absolute certainty. We're still in a 5-year-old bull market trend, which is very lengthy in terms of past coin market cycles. And as we all know, the general world-wide economic climate is dismal.

Certain areas of the coin market are feeling the pinch, but overall the market still has solid support from eager buyers. As reported in the June 23 issue, collectors of average means are left with less disposable income to use for purchasing coins because they're having to struggle with much higher living costs. This reality has slowed business in some areas, but has generally not affected values in the overall coin market.

Few market bubbles are apparent that could burst, taking values down. A possible exception could be in the registry market for modern coins (those struck since the 1960s).

Coins graded as perfect Mint State and Proof 70 lack dealer buyback support, and the supply grows as more are graded as such, which could lead to a correction in market values for particular coins that have advanced to levels beyond ridiculousness, according to many seasoned collectors and dealers.

The ANS Collection, 800,000 Items, Relocated Inconspicuously

Mon, 16 Jun 2008 10:41:59 -0400

The ANS Collection Relocated.... Inconspicuously

They didn't exactly hire two guys with a truck to secretly move one of the world's largest and most valuable coin collections over the weekend in Manhattan. But they did use five standard-issue moving vans.

No armored-car convoys. No helicopter gunships. No National Guard outriders flourishing automatic weapons. Just sweaty movers, in blue shirts with their names stitched at the front, schlepping 425 plastic packing crates that were filled with treasures trussed in humble bubble wrap and garden-variety vinyl packing tape.

Yes, the New York Police Department provided an escort, but during more than eight hours on Saturday, one of the great hoards of coins and currency on the planet, worth hundreds of millions of dollars, was utterly unalarmed as it was bumped through potholes, squeezed by double-parked cars and slowed by tunnel-bound traffic during the trip to its fortresslike new vault a mile to the north. In the end, the move did not become a caper movie.

"The idea was to make this as inconspicuous as possible," said Ute Wartenberg Kagan, executive director of the American Numismatic Society. "It had to resemble a totally ordinary office move."

The collection of 800,000 coins, bank notes, medals, commemorative badges, pins, historic advertising tokens, campaign buttons and other artifacts has been amassed during the 150-year existence of the nonprofit society.

It was transported from the society's high-security headquarters at 96 Fulton Street, in the former Fidelity and Deposit Company building at the corner of William Street, to its future home, a secure $4 million vault and exhibition space 22 blocks away, on the 11th floor of One Hudson Square, at Varick and Canal Streets.

15 Tattered $20 Bills from DB Cooper Skyjacking Sell for $37,000

Mon, 16 Jun 2008 10:34:30 -0400

$20 Bills from DB Cooper Skyjacking Sell for $37,000

Fifteen tattered $20 bills recovered from the 1971 D.B. Cooper skyjacking sold Friday for more than 120 times their face value at a Dallas auction.

Heritage Auction Galleries said the bills sold for a total of more than $37,000 - two to three times higher than expected.

Winning bidders paid about $6,500 each for two of the $20 bills. The money has the handwritten initials of investigators who examined the bills, which were found buried in sand in 1980.

Another recovered note, a tiny fragment showing only a portion of the printed San Francisco Federal Reserve Bank seal in the design, sold for $358.

Cooper skyjacked a flight from Portland, Ore., to Seattle, claiming he had a bomb. He released the passengers at a Seattle airport for $200,000, four parachutes and a flight to Mexico.

On that flight, he jumped out with a parachute near the Oregon-Washington line. He was never found.

"There's obviously still tremendous interest in the legendary case," Heritage President Greg Rohan said in a statement. The gallery declined to identify the winning bidders.

Amazing Braided Hair Large Cent Struck on Half Cent Found

Mon, 16 Jun 2008 10:20:18 -0400

Amazing Braided Hair Large Cent Struck on Half Cent Found

An amazing Braided Hair Large Cent struck on a half cent planchet will be making its first public auction appearance at Heritage's 2008 Baltimore ANA Signature® Auction. The coin has been consigned by a very private Northwest family whose members were unaware of its rarity or significance. The newly discovered rarity will be sold July 30-August 2, 2008, and the lot listing will be available online at HA.com during early July.

Quote:
"In more than three decades as a numismatist," commented Heritage's Senior Numismatist Mark Borckardt, "and after having examined tens of thousands of Large Cents, I have Never seen a similar error. As soon as I spotted this amazing error coin, I gathered all of the senior numismatists, and none of them could recall a similar piece. When they heard that the coin had sat on the front porch of a house for fifty years in a Mason jar - along with a bunch of other old coins in cans and jars - they were equally astounded! It quickens all of our hearts to imagine that there are still major rarities out there waiting to be discovered!"

Bob Merrill, the former Director of Heritage's numismatic auctions, discovered the coin while visiting the consignors. "When I pulled the coin out of the Mason jar, I knew that it was fairly unusual, but my attention was rather distracted by the 1794 dollar that came tumbling out behind it. Amazingly, our staff experts in Dallas were able to find a pedigree for the 1794 dollar from 1914!"

The Braided Hair Large Cent error is sized midway between a Large Cent and a half cent; without an immediate restraining collar, the half cent flan expanded well beyond its normal diameter during striking. Heritage's experts in Dallas required extra time to examine the error, so it was not included with the rest of the Northwest Collection in the May 2008 Signature Auction.

Swiss Confederation issues ‘Year of Planet' Gold Commemorative

Fri, 13 Jun 2008 11:15:50 -0400

Swiss Confederation issues ‘Year of Planet' Gold Commemorative
The Swiss Confederation is launching a new gold commemorative coin as part of the UN Year of Planet Earth celebration. The gold coin has a face value of 50 Swiss francs, and the mintage is limited to 6000.

International Year of Planet Earth
The United Nations have declared the year 2008 as the "International Year of Planet Earth". World-wide activities on the subject of earth sciences will be co-ordinated by UNESCO, the International Union of Geological Sciences (IUGS) and other UN organisations.

What do earth sciences mean to our society? How does the exploration of the earth contribute towards a safer and wealthier world? Geophysicists and scientists will be looking into the answers to these questions during the years 2007 – 2009. In Switzer-land, the Science et Cité Foundation and the Swiss Academy for Natural Sciences are organising BaseCamp09, a road show that will visit six Swiss cities and is in-tended for the general public. The BaseCamp consists of a basic exhibition on environmental changes and explains the work of the research community. BaseCamp09 visitors will experience the gradual climate change with their own eyes and ears.

The designer of the "International Year of Planet Earth" gold coin is artist Claude Sandoz from Lucerne, who has a wealth of experience in designing coin motifs from past projects for Swissmint. For the Planet Earth, he places mankind in the centre of three globes. The Earth lays at man's feet and one stands on his head. Man also car-ries it gently in his hands. The gold coin with a face value of 50 Swiss francs is avail-able in "proof coin" minting quality

The proceeds form the sale will go to promote cultural projects throughout Switzer-land, and can be purchased directly from the Swiss Mint.

1832 $5 13 Stars MS63 PCGS. Breen-6495, BD-1, High R.5 to be Auctioned by Heritage at Summer Fun

Fri, 13 Jun 2008 10:54:30 -0400

1832 $5 13 Stars MS63 PCGS. Breen-6495, BD-1, High R.5 to be Auctioned by Heritage at Summer Fun

The 1832 half eagle is known in only two die pairings, BD-1 and BD-2, easily distinguished by the presence of either 13 or 12 obverse stars, respectively. In addition, the 12 Stars BD-2 has a curved-base 2, while the 13 Stars BD-1 has a straight-base 2. Both are listed as separate Guide Book varieties. These two obverse dies were each paired with but a single reverse die, which on the 13 Stars is recorded with only a single die state. The reverse of the 12 Stars variety shows a later state of the 13 Stars reverse, with some of the letters weak and the eagle's claws more open due to die lapping. Bass-Dannreuther notes that Miller's half eagle reference erroneously lists four die pairings for the 1832, including two with the 1830 Small D (BD-2) reverse. All 1832 pieces known, however, including the present coin, show the Large D reverse, with the letter large and the period distant.
The 1832 BD-2 12 Stars is much rarer, with a High R.7 rarity rating according to Bass-Dannreuther. The Guide Book notes that only five examples of BD-2 are known, while Bass-Dannreuther says "five or six." This is certainly not to be interpreted, however, that the BD-1 is common, for its High R.5 rating makes it "rare to very rare" in adjectival terms--this in what is among the most difficult U.S. coin series, gold or otherwise. Bass-Dannreuther comments concerning the rarity of this variety:

"Bass owned a single example of this available variety--at least available for this type. There are as many as 50 examples surviving. This may seem high to some specialists, but quite a few of these coins have been brought to market because of higher prices in the past 25 years. This is still not a common coin, of course, and all Fat Head Fives are popular and snapped up by savvy collectors at auction and on the bourse floor. For some reason, half eagles of the 1830s are often seen with extensive evidence of handling, unlike most of the dates of the 1820s."

Harry Bass, of course, with his vast resources, could have owned a dozen pieces of the BD-1 if he had so desired, given enough time for searching, and there are many rarer varieties of which he owned multiple examples. For the always-analytical John Dannreuther, that last sentence in the quotation seems a bit of a curiosity, one that is easily explained. It was only two years later, in 1834, that the bullion content of the early gold coins exceeded their face value. The old-tenor gold began to go by the thousands into melting pots--usually by way of bullion dealers and other mercenaries who snapped up the choicest pieces from circulation. A coin only two to four years old (i.e., dated in the 1830s) found in such a bullion shipment destined for melting would likely show handling marks, but it is likely that the gold coins from the 1820s had already been saved in strong collector hands, and thus were less likely to be submitted as melt bullion.
At PCGS this piece is one of only three coins certified MS63, with three finer (all MS64). Together with three pieces in MS62, this makes a total of nine Mint State pieces at PCGS. NGC lists 12 Mint State coins, ranging from MS61 through a single MS65 (5/08). The present example has lovely, satinlike surfaces that are undisturbed by any noticeable abrasions. Striking definition is complete on each side, which is not always a given since these pieces were struck with a screw press. The orange-gold centers show just the slightest bit of golden-rose around the margins. An important rarity for the 19th century gold specialist.

From The Charleston Collection.

Gail Baker to Chair ANA Membership Committee

Thu, 12 Jun 2008 20:54:43 -0400

Gail Baker to Chair ANA Membership Committee

COLORADO SPRINGS – Gail Baker, former education director for the American Numismatic Association, has been named chairperson of the ANA Membership Committee, President Barry Stuppler has announced.

Baker, who retired May 31 following a 10-year career with the ANA, will replace Alan Herbert, who is stepping down as chair, but who will continue as a member of the committee.

"I'm very pleased to announce that Gail has agreed to replace Alan as chair," Stuppler said. "She is an innovator who cares deeply for the Association, and who brings with her very relevant recent experience as an ANA staffer. We are fortunate that she is willing to fill Alan's shoes."

Baker was hired as the ANA education director in 1998, and was instrumental in creating a second one-week Summer Seminar session as well as launching Coins in the Classroom. Most recently she was the Association's national numismatic advocate.

"I'm pleased that the Membership Committee has made strides in moving the Association forward," Herbert said. "We are reaching out to a younger, more Internet savvy group of members – and I'm very pleased that Gail has been named to continue that effort." The ANA Membership Committee meets monthly via teleconference. For more information on ANA committees, go to www.money.org, click on the communications drop-down menu and go to committees and minutes.

Wrong-planchet 1980 P Kennedy Half Dollar Found

Thu, 12 Jun 2008 19:33:40 -0400

Wrong-planchet 1980 P Kennedy Half Dollar Found
By Ken Potter for Numismaster

A wrong-planchet half dollar dated 1980-P with a four-digit value has been found. A Pennsylvania hobbyist reported it May 30.

"I found this 1980-P Kennedy half in a roll yesterday and I think it might be a wrong planchet error but I'm not sure. There is only a slight trace of reeding on the edge and the condition is probably about uncirculated (AU). It's also smaller in diameter and a little thinner than a normal Kennedy half. I don't have the proper equipment to weigh it. Any help in identifying it would be greatly appreciated," RHM wrote.

Without an actual examination of the coin and without knowing its weight, it is impossible to conclusively attribute the planchet to a United States or other country's coin (the U.S. Mint struck coins for other countries in 1980).

What we do know from the metal flow that shows on the characters closest to the rim is that it was struck on an undersized planchet. However, the finder was able to add a bit of information that helped immensely; he later confirmed my suspicion that he could see a copper core. This suggests that it is a clad planchet of the type used for dimes through dollars during that year.

In my opinion, the coin is too spread-out and fills too much of the collar for it to have been struck on a quarter planchet. This suggests that it was most probably struck on a Susan B. Anthony dollar planchet. If so, an estimation of its value from a panel of error coin experts is somewhere between $850 and $1,750 for an AU grade.

United States Mint Introduces New Program to Ship Presidential $1 Coins at Face Value Directly to Retailers, Financial Institutions and the Public

Wed, 11 Jun 2008 20:20:29 -0400

United States Mint Introduces New Program to Ship Presidential $1 Coins at Face Value Directly to Retailers, Financial Institutions and the Public

WASHINGTON - The United States Mint announced today a new program to ship circulating Presidential $1 Coins directly to retail establishments, financial institutions, and members of the public. The $1 Coin Direct Ship Program provides individualized service to the financial community and other interested parties who wish to acquire $1 coins at face value in smaller quantities than currently available to financial institutions.

"Retailers and financial institutions want to be responsive to customers' requests for the Presidential $1 Coin," said United States Mint Director Ed Moy. "The $1 Coin Direct Ship Program will help them to easily obtain the number of coins that best suits their needs."

The United States Mint is initiating this program to proactively comply with a directive in the Presidential $1 Coin Act of 2005 to remove barriers and improve circulation of the $1 coin.

The $1 Coin Direct Ship Program is intended to complement-not substitute for-the Federal Reserve Banks' coin ordering systems. The role of the Federal Reserve Banks is to distribute bulk quantities of coin to depository institutions, which in turn distribute to branches, other financial institutions and the public. Market research conducted by the United States Mint found that some retailers and smaller banks would prefer to obtain Presidential $1 Coins in small quantities. By fulfilling these needs, the United States Mint $1 Coin Direct Ship Program complements the Federal Reserve's coin ordering systems and, at the same time, helps to encourage circulation of $1 coins.

The circulating Presidential $1 Coins will be available in 25-coin rolls packaged in quantities of 10 rolls per box, priced at $250 face value. The coins will not be separated by mint mark. Customers may order up to 500 $1 coins (two boxes) within any given Presidential $1 Coin issuance period. The United States Mint will pay shipping and handling fees on orders delivered via standard shipping methods. Orders requiring special handling (e.g., shipping upgrades) will be billed to the customer.

Bowers and Merena Realizes More Than $6.2 Million at Official Auction of the Baltimore Coin and Currency Convention

Wed, 11 Jun 2008 19:27:46 -0400

Bowers and Merena Realizes More Than $6.2 Million at Official Auction of the Baltimore Coin and Currency Convention

IRVINE, Calif. – Bowers and Merena Auctions, America's leading rare coin auction house, posted another highly successful outing in Baltimore as Official Auctioneer of the Baltimore Coin and Currency Convention. More than 3,000 lots crossed the block in three sessions June 5-6, 2008, realizing $6,258,873.

"The June Baltimore Coin and Currency Convention is the kick-off to the summer show season and we were very pleased with the attendance at the show and our three sessions of live bidding. Bidding was very active for coins as well as currency and we are happy with the results," said Steve Deeds, president of Bowers and Merena. "All three sessions were very busy and we were glad to see many bidders join us for their very first auctions, alongside our regular bidders that we look forward to seeing each time we come to Baltimore. The atmosphere in the auction room and on the bourse floor was lively and enthusiastic and I am looking forward to what the rest of the summer season brings."

Highlights from the June Baltimore auction include the sale of Lot 3733, an 1801 Capped Bust Right Eagle, BD-2, HBCC-3194, Taraszka-25, Rarity-2 in PCGS MS-64 that realized $111,550, an impressive near-Gem considered a glorious representative of the Large Eagle Capped Bust Right Ten.

Another extraordinary highlight came from the currency session, Lot 2537, a Fr. 114, 1901 $10 Legal Tender Note S/N 1, PCGS Very Fine 30PPQ, that realized a remarkable $80,500. The historical importance of this note goes without saying, as it is the first 1901 $10 Legal Tender Note to have ever been printed, and it is the first of the nine Friedberg numbers assigned to this design type.

Highlights of prices realized for coins include:
Lot 3733 1801 Capped Bust Right Eagle. BD-2, HBCC-3194, Taraszka-25. Rarity-2. MS-64 (PCGS). $111,550
Lot 3650 1804 Capped Bust Right Half Eagle. BD-7, HBCC-3083, Miller-59. Rarity-4. Small 8/Large 8. $60,375
MS-64 (NGC).
Lot 3642 1860 Three-Dollar Gold Piece. Proof-65 Cameo (NGC). $57,500
Lot 440 1867 Shield Nickel. Rays. Proof-64 (PCGS). $51,750
Lot 3242 1892-S Morgan Silver Dollar. MS-62 (PCGS). $47,150
Lot 226 1913 Lincoln Cent. MS-67 RD (PCGS). $47,150
Lot 63 1832 Half Cent. B-2, C-2. Rarity-7. Proof-64 BN (PCGS). $47,150
Lot 3267 1894-O Morgan Silver Dollar. MS-65 (NGC). $46,000
Lot 376 1969-S Lincoln Cent. FS-028. Doubled Die Obverse. AU-58 (PCGS). $42,550
Lot 3685 1876-CC Liberty Half Eagle. Winter 1-A, the only known dies. MS-61 (NGC). $42,205
Lot 3279 1896 Morgan Silver Dollar. Proof-68 * Ultra Cameo (NGC). $40,250
Lot 3694 1889 Liberty Half Eagle. MS-67 (PCGS). $40,250
Lot 3654 1813 Capped Head Half Eagle. BD-2, HBCC-3126, Miller-120. Rarity-4. MS-64 (PCGS). $39,100
Lot 3734 1801 Capped Bust Right Eagle. BD-2, HBCC-3194, Taraszka-25. Rarity-2. MS-62 (PCGS). $34,788
Lot 3731 1799 Capped Bust Right Eagle. BD-8, HBCC-3189, Taraszka-20. Rarity-5. Small Stars Obverse. $34,500
MS-61 (PCGS).
Lot 3403 1873-CC Trade Dollar. Wide CC. MS-64 (NGC). $34,500
Lot 3914 1905 Liberty Double Eagle. MS-64 (PCGS). $34,500
Lot 263 1918-D Lincoln Cent. MS-66 RD (PCGS). $34,500
Lot 838 1828 Capped Bust Half Dollar. O-118. Rarity-3. Square Base 2, Small 8s, Large Letters. $34,500 MS-66 (PCGS).
Lot 260 1917-S Lincoln Cent. MS-65 RD (PCGS). $32,200

Highlights of prices realized for currency include:
Lot 2537 Fr. 114. 1901 $10 Legal Tender Note. PCGS Very Fine 30PPQ. $80,500
Lot 2638 Fr. 315. 1886 $20 Silver Certificate. PMG Choice Extremely Fine 45. $57,500
Lot 2559 Fr. 217. 1886 $1 Silver Certificate. PMG Super Gem Uncirculated 68. $42,550
Lot 2716 Fr. 1180. 1905 $20 Gold Certificate. CGA Gem Uncirculated 65. $29,900
Lot 2527 Fr. 96. 1869 $10 Legal Tender Note. PCGS Superb Gem New 67PPQ. $28,750
Lot 2735 Fr. 1217. 1922 $500 Gold Certificate. PCGS Very Fine 30. $27,600
Lot 2502 Fr. 64. 1869 $5 Legal Tender Note. PMG Superb Gem Uncirculated 67EPQ. $26,450
Lot 2675 Fr. 817. 1915 $10 Federal Reserve Bank Note. PCGS Superb Gem New 67PPQ. $26,450
Lot 2538 Fr. 118. 1901 $10 Legal Tender Note. PMG Gem Uncirculated 65EPQ. $23,000
Lot 2731 Fr. 1215. 1922 $100 Gold Certificate. PCGS Gem New 65PPQ. $20,125

Prices realized for all lots in the Bowers and Merena Official Auction of the June Baltimore Coin and Currency Convention are available online at www.bowersandmerena.com. This is the second of three Baltimore auctions by Bowers and Merena in 2008, continuing their longstanding and ongoing association with the convention – the next is scheduled for November 19-23. Bowers and Merena will conduct its Baltimore Rarities Sale at the Marriott Waterfront on July 26 prior to the ANA World's Fair of Money.

Bowers and Merena Auctions was founded in 1983 and has grown to become the world's preeminent numismatic auctioneer with more than half a billion dollars in rare coin and currency sales. Bowers and Merena has handled four of the five most valuable United States coin collections ever sold, including the Louis E. Eliasberg Sr. Collection, the Harry W. Bass Jr. Collection, the Garrett Collection for The Johns Hopkins University, and the Norweb Collection.

For more information about Bowers and Merena and the results of the Official Auction of the Baltimore Coin and Currency Convention in June, call 800.458.4646. For media inquiries, ask for President Steve Deeds. Complete prices realized for all past auctions are available at www.bowersandmerena.com.

Royal Mint to offer 2008 UK Silver Proof Piedfort Four-Coin Collection

Tue, 10 Jun 2008 10:56:21 -0400

Royal Mint to offer 2008 UK Silver Proof Piedfort Four-Coin Collection

The Royal Mint has just released a four-coin collection set comprised of silver Piedfort specimens of the three new commemorative coins for 2008 - the two magnificent £5 pieces, one honouring the 450th anniversary of the accession of Queen Elizabeth I and the other celebrating the 60th birthday of His Royal Highness the Prince of Wales, and the bi-colour £2 coin marking the centenary of the Olympic Games held in London in 1908 - along with the £1 coin bearing a fresh rendition of the Royal Arms.

The four coins have been struck in the traditional sterling silver alloy to Proof quality and the £2 coin, to emulate the bi-colour nature of its circulating counterpart, has been plated with .999 fine gold on its outer ring. A maximum of 3,000 Silver Proof Piedfort Collections have been authorised for 2008. Each collection is beautifully displayed in a luxurious black display case and is accompanied by a full-colour booklet which incorporates an individually numbered Certificate of Authenticity.

Although not Piedforts in a strict sense, thicker than normal coins were produced across Europe during the early modern period, particularly from the mid-sixteenth century to the mid-seventeenth century, as part of the broader practice of striking prestige pieces. At this time the exchange of valuable gifts between rulers and members of their entourage became an established courtly exercise. Within this context coins struck on thick blanks, together with other types of prestige pieces, were prepared on behalf of kings and noblemen primarily for the purposes of presentation and display. From Poland to the Spanish Netherlands, from Sweden to northern Italy, coins of this sort provided rulers with a convenient means of emphasising their wealth and power.

Spain in U.S. Court Today over Black Swan Treasure

Tue, 10 Jun 2008 10:46:57 -0400

Spain in U.S. Court Today over Black Swan Treasure
A battle royale over an estimated $500 million treasure that a Florida deep-sea salvage company found last year is due for a fresh round in court in Florida on Monday.

The Spanish government now says the 500,000 silver and gold coins that the company, Odyssey Marine Exploration, found last year in the Atlantic Ocean near Spain came from one of its ships that sunk in a 19th-century naval battle. Spain wants the entire treasure returned, but Odyssey insists Spain may have no right to it.

Lawyers for both sides are due to present arguments Monday morning in a U.S. federal court in Tampa, Florida, in another round of the case that started last year, Odyssey spokeswoman Natja Igney told CNN.

Odyssey found the coins last year and quietly airlifted them in crates from Gibraltar, a British colony on Spain's southern tip, to Florida for safekeeping. The company then said it was unclear how the huge quantity of coins it found on the seabed had gotten there. It declined to reveal the location, citing security reasons, and mysteriously dubbed the site "Black Swan."

But the Spanish government, at a recent Madrid news conference, said it's really not so complicated.

Quote:
"The mystery is over," said James Goold, a U.S. lawyer representing Spain, told the news conference. "Using a variety of methods to conceal what it was doing, Odyssey Marine Exploration stripped the gravesite that is the Spanish navy warship Nuestra Senora de las Mercedes of coins and other objects. The coins and other artifacts that Odyssey took from the site are documented to have been on the Mercedes," Goold said.

The Mercedes was a 34-gun frigate, a ship very common at the time in the Spanish navy. The Mercedes left Peru, stopped in Uruguay and was just a day's sail from Spain when the four-ship Spanish squadron was attacked by a British fleet in October 1804, according to a Spanish government's filing to the Florida court.

An original, unmessed-with seated liberty coin is a true condition rarity

Tue, 10 Jun 2008 10:41:24 -0400

An original, unmessed-with seated liberty coin is a true condition rarity

The following is taken from the Subscriber Correspondence section of the June 2008 E-Gobrecht, the electronic newsletter skillfully published monthly by LIBERTY SEATED COLLECTORS CLUB and its editor Bill Bugert. For anyone who is unfamiliar with the LSCC or E-Gobrecht in particular, CoinLink would strongly recommend that you visit their site and subscribe. A finer group of serious collectors can not be found who freely disseminate their content for the benefit of all.

From Charles Sullivan: In the May "Auction News" by Jim Gray, he states "An 1873-CC seated dollar in AU-58 with album toning on well struck surfaces went up to $48,875 despite a dark spot below the eagle's beak. A lightly toned, unmolested 1878-CC trade dollar, AU-58 and quite attractive, sold for $11,500." In the same issue, David Lange cites coins being "subjected to multiple cleanings and poor storage" during the 1950's and 1960's, coins that "have been dipped, albeit more skillfully than the more common bleach jobs that are such an eyesore," coins "dipped again and again in an attempt to remove the PVC residue" (post-1970's), and, in the present day, coins dipped "just before [they are sent} to the grading services" as submitters have failed to rinse them properly. David fails to mention a prominent slabhouse has even set up an extra-charge cleaning service for ugly specimens, thus reinforcing the notion "every coin can be made better."

As a group, we collectors STILL do not possess the maturity and vision to leave seated liberty coins alone for the guardians who will purchase, inherit, and conserve these wonderful specimens of history in the decades and centuries ahead.

1794 PCGS VF30 Dollar & 1891-O NGC MS65 25C Specimen Lead Heritage's May 2008 Long Beach Auction

Fri, 6 Jun 2008 10:13:54 -0400

Gold Hot in Heritage's May 2008 Long Beach $26.5 Million Auction
Dallas, TX. Top prices realized of $161,000 were reached by two very different coins in Heritage Auction Galleries‘ May 28-30, 2008 Signature® in Long Beach: a 1794 Dollar VF30 PCGS (Lot 800) and an 1891-O 25C Specimen MS65 NGC (Lot 334). Total prices realized for the American coins exceeded $19 million and ancient and world coins realized an additional $7.5 million; both totals will rise further when post auction buys are finalized.

"The strong market is continuing to bring great rarities onto the Heritage auction block," commented Heritage President Greg Rohan. "One of the pair of 1794 silver dollars realized $161,000, matched by an 1891-O quarter, certified Specimen 65 by NGC. One of the three Continental dollars included realized $92,000. Altogether, more than 650 consignors and more than 5,000 bidders participated in our May Long Beach auctions

Highlights from Heritage's Long Beach Signature Auction:

Lot 800: 1794 Dollar VF30 PCGS. Realized: $161,000
Struck on the initial day of the production of silver coinage, October 15, 1794, this rarity is a historic relic of America's earliest attempt to produce large size silver coinage that would compare favorably in weight to the widely circulated Spanish (Carolus) dollars.
Ex: George C. Slawson (Stack's, 4/1970), lot 840; 1991 ANA (Bowers and Merena, 8/1991), lot 436.

Lot 334: 1891-O 25C Specimen MS65 NGC. Realized: $161,000
One of only two pieces known since it was first recognized in 1941 when it appeared in Mehl's Dunham Sale. Ex: William Forrester Dunham (B. Max Mehl FPL, 6/1941); Gene Edwards; 1980 ANA Sale (Steve Ivy, 8/1980), lot 2024; Jascha Heifetz Collection (Superior, 10/1989), lot 3652. From The Silbermünzen Collection.

Lot 493: 1796 15 Stars Half Dollar, O-101, AU55 NGC. Realized: $149,500
The Draped Bust Small Eagle half dollar, bearing the dates 1796 or 1797, ranks among the lowest mintage of U.S. type coins, with only 3,918 pieces.

Lot 3461: 1907 $10 Wire Rim, Periods, MS67 NGC, Judd-1901, formerly J-1774.
Realized: $149,500
The Periods variants of the 1907 Saint-Gaudens eagle hold an interesting place in American numismatics, as either patterns or regular issues. Only three have been certified finer.

Open Letter to Henry Paulson, US Secretary of The Treasury on Illegal Rationing of Silver Eagles

Fri, 6 Jun 2008 09:58:25 -0400

Open Letter to Henry Paulson, US Secretary of The Treasury on Illegal Rationing of Silver Eagles
Open letter to:

Henry Paulson
US Secretary of The Treasury
1500 Pennsylvania Avenue, NW
Washington, DC 20220

RE: US Silver Eagles Illegal Rationing

Dear Sirs:

It has come to my attention that 1oz US Silver Eagle coins are being rationed by the US Mint to 13 authorized dealers and not being made available to the public in adequate amounts.
http://www.silverinstitute.org/news/pr29may08.html

According to US Law: 31USC5112(e) this action is illegal and I demand that this rationing program end immediately.

http://frwebgate.access.gpo.gov/cgi...e:+31USC5112

Quote:

(e) Notwithstanding any other provision of law, the Secretary shall mint and issue, in quantities sufficient to meet public demand, coins which–

-----(1) are 40.6 millimeters in diameter and weigh 31.103 grams;
-----(2) contain .999 fine silver;
-----(3) have a design–
----------(A) symbolic of Liberty on the obverse side; and
----------(B) of an eagle on the reverse side;
-----(4) have inscriptions of the year of minting or issuance, and the words "Liberty", "In God We Trust", "United States of America", "1 Oz. Fine Silver", "E Pluribus Unum", and "One Dollar"; and
-----(5) have reeded edges.

(f) Silver Coins.—

-----(1) Sale price.–The Secretary shall sell the coins minted under subsection (e) to the public at a price equal to the market value of the bullion at the time of sale, plus the cost of minting, marketing, and distributing such coins (including labor, materials, dies, use of machinery, and promotional and overhead expenses).
-----(2) Bulk sales.–The Secretary shall make bulk sales of the coins minted under subsection (e) at a reasonable discount.
-----(3) Numismatic items.–For purposes of section 5132(a)(1) of this title, all coins minted under subsection (e) shall be considered to be numismatic items."

The law is clear that the silver coins must be supplied to the US public in "quantities sufficient to meet public demand" EVEN IF it means the US Mint drives up the price of silver bullion on the open market in order to obtain the silver needed to produce the US Silver Eagles. That rise in price should, theoretically, decrease the current voracious demand for US Silver Eagles and allow for...........

House Passes Commemorative Coin Program Bills

Fri, 6 Jun 2008 09:46:00 -0400

House Passes Commemorative Coin Program Bills
By David L. Ganz for Numismatic News

It seemed like it was raining coinage legislation on Capitol Hill in May as the House of Representatives passed bill after bill that sets up new coin programs. If the Senate concurs, and the President signs the measures into law, the face of coin collecting will likely not be the same. Replacing it will be a quilt work of new programs and directions.

First and foremost on the scene was the double eagle ultra-high relief in gold, and a second version in palladium. See separate story on Page 4.
Other legislation makes for one of the busiest numismatic Congresses in recent memory:

Star-Spangled Banner and War of 1812 Bicentennial Commemorative Coin Act (Under House consideration May 13 when squabbles broke out among the Democrats and Republicans, but passed under unanimous consent May 15. Referred to Senate Banking Committee May 19 after being Received from House) [H.R. 2894.]

• It authorizes 350,000 silver dollars in 2012 and instructs the secretary of the Treasury to mint and issue $1 coins in commemoration of the bicentennial of the writing of the Star-Spangled Banner and the War of 1812. It requires a coin design emblematic of the War of 1812, particularly the battle for Fort McHenry that formed the basis for the "Star-Spangled Banner."

Ohringer Gold Spurs $11 Million Outcome | 1899 $20 Double Eagle at 95K Leads the Way

Fri, 6 Jun 2008 09:39:44 -0400

Ohringer Gold Spurs $11 Million Outcome

High-grade gold from the Ohringer Family Trust collection and other consignments boosted results of Ira and Larry Goldberg's May 25-28 auction to an overall total of $11,013,585.

A 1930-S Saint-Gaudens $20 from the Ohringer Family Trust consignment, graded MS-64 PQ by Professional Coin Grading Service with Certified Acceptance Corp. sticker, sold for $130,000.

Catalogers had assigned a presale estimate of $120,000-$130,000.

A 1799 Capped Bust $10 with small obverse stars, graded MS-64 by Numismatic Guaranty Corp., went for $115,000. "The present specimen is among the top survivors," Goldberg sale catalogers wrote, citing an NGC census of four graded MS-64 and none finer.

A 1932 Saint-Gaudens double eagle in NGC MS-66 realized $110,000. "The 1932 Saint-Gaudens is a modern day rarity whose numbers have not been increased over the years by hoards or European stockpiles as have other dates in the series," catalogers wrote, adding, "Only a few score exist today in all grades." They referenced a PCGS population of 10 seen in this grade and three finer. Estimate was $110,000-$120,000.

A proof 1899 $20, NGC Proof-65 Ultra Cameo PQ with CAC sticker, brought $95,000. It had a presale estimate of $70,000-$80,000.