Numismatic News

Finest Known 1829 Half Dime Variety Discovered at NGC

Thu, 10 Sep 2009 10:47:58 -0400

Finest Known 1829 Half Dime Variety Discovered at NGC

A recent grading submission to NGC included a mix of miscellaneous gold and silver coins, one of which was an 1829 half dime for which the submitter requested VarietyPlus attribution. It took just a moment or two to identify its obverse by the distinctly repunched top to numeral 1 in its date. Obverse 4 in Federal Half Dimes 1792-1837, by Russell J. Logan and John W. McCloskey, this die is known in various states and paired with no less than six reverse dies. Only a couple minutes more were spent in determining which die pairing was involved, as the reverse die bears distinctive pitting on the underside of the banner carrying the Latin motto- LM-18 it is. That's where things got really fun.........

United States Mint Launches American Samoa Quarter in Pago Pago

Fri, 4 Sep 2009 12:24:12 -0400

United States Mint Launches American Samoa Quarter in Pago Pago
PAGO PAGO, American Samoa - The United States Mint celebrated the launching of the American Samoa commemorative quarter-dollar coin yesterday at the Samoana High School Gym in Pago Pago, the territory's capital city. United States Mint Deputy Director Andy Brunhart and American Samoa Governor Togiola T.A. Tulafono led the celebration of the fourth coin in the 2009 District of Columbia and U.S. Territories Quarters Program.

"This beautiful quarter-dollar coin honoring American Samoa's vibrant traditional culture and rugged beauty is a welcome addition to American coinage," Brunhart told the crowd.

The reverse (tails side) of the American Samoa quarter, sculpted by United States Mint Sculptor-Engraver Charles L. Vickers, features the ava bowl ("tanoa"), whisk and staff in the foreground, with the shore featured in the background. The ava ceremony is considered the most significant traditional event in the Samoan culture. Inscribed on the coin's reverse are AMERICAN SAMOA and SAMOA MUAMUA LE ATUA, which means "Samoa, God is First."

Following the ceremony, Tulafono and Brunhart distributed new American Samoa quarters to children 18 years old and younger to commemorate the event. Adults exchanged their currency for $10 rolls of American Samoa quarters.

Sarah Polk First Spouse Gold Coin Available September 3

Thu, 3 Sep 2009 09:46:13 -0400

Sarah Polk First Spouse Gold Coin Available September 3

The United States Mint will release a gold coin in honor of Sarah Polk at 12 noon Eastern Time (ET) on September 3, 2009. The one-half ounce 24-karat Sarah Polk First Spouse Gold Coin will be available in proof and uncirculated versions. Pricing will be based on the United States Mint pricing structure, available here.

Both the obverse (heads side) and the reverse (tails) of the Sarah Polk First Spouse Gold Coin were designed and sculpted by United States Mint Sculptor-Engraver Phebe Hemphill...

1906 GOLD Indian Head Cent up for sale....

Wed, 2 Sep 2009 12:40:42 -0400

9/23/2009 - 9/26/2009 The Philadelphia Americana Sale
Lot # 4299

Quote:
1906 Indian Cent. Struck in Gold. AU-58 (NGC).

18.3 mm (horizontal) X 18.1 mm (vertical). 1.1 mm to 1.2 mm thick. Plain Edge. Lovely olive gold fields join yellow gold lustre and coppery highlights in the protected areas. This specimen weighs 64.4 grains and was probably struck on a quarter eagle planchet, which should weigh 64.5 grains. The physical size of the planchet is also very similar to that of a quarter eagle (17.78 mm), the slightly larger diameter of this specimen accounted for by the spread during striking of the soft gold to fill the larger diameter collar (19.05 mm) of an Indian cent.

Only a handful of Indian Head cents in gold of various dates are known. The most frequently encountered Indian cent in gold is the 1900, which is estimated at two to four specimens, according to various sources. We have traced two specimens: 1) John A. Beck (A. Kreisberg, January 1975, Lot 609), later sold as Auction '89:856, again as part of the 1991 ANA Sale (B&M, August 1991, Lot 4103) and now owned by error collector Mike Byers; 2) 1993 ANA Sale (Heritage, July 1993, Lot 8000). Although the uspatterns.com web site reports that "With regard to the 1900, 3 or 4 are believed to exist including the circulated 1993 ANA example and the PCGS65 Col Green, Beck, Byers coin," this estimate might be on the high side. A 1900 in gold is pictured as coin 6 in figure 131 of Don Taxay's Counterfeit, Mis-Struck and Unofficial U.S. Coins, but it is hard to determine whether or not this is one of the above two listed specimens. The 1900 is listed as Pollock 1990, referencing the 1991 ANA Sale specimen, and it is also listed in Judd's Appendix B. A 1900 specimen in the Dewitt Smith collection was purchased by Virgil Brand in 1908 and is listed in his ledgers as #46973, but it is not clear whether this is one of the pieces cited above. Also known is a silver 1900 specimen struck from the same, rusted dies used to produce the gold specimens. The 1907 is referenced in several places, including Judd's Appendix B, but has not been seen at auction recently. It is not inconceivable that other dates exist, as well as additional specimens of known dates.

The origins of these gold Indian Cents are today unknown, but they are clearly made from Federal U.S. dies and struck on what are probably quarter eagle planchets. These breathtaking off-metal coins are in all probability pieces de caprice made specially for collectors at the beginning of the 20th century. The cataloguer of the 1991 ANA Sale specimen surmised that mint engraver George T. Morgan was responsible for their manufacture, as many other pieces de caprice are attributable to him. The Beck specimen traces its pedigree to St. Louis coin dealer B.G. Johnson and Col. E.H.R. Green, the latter of whom clearly had connections at the mint, since he was at one time in possession of all five known 1913 Liberty nickels. Whatever the origin of this 1906 Indian cent in gold, it is clearly extremely rare if not unique; as such, it would be the showpiece of any carefully assembled collection of Indian Head cents or off-metal strikings.

This exact specimen is plated in the "Significant U.S. Mint Errors" section of the current Red Book and was also the cover coin for the June 2004 issue of Longacre's Ledger.

From Stack's/ANR's sale of the Medio and Henry Da Cost Gomez Collections, June 2004, lot 4097. Thanks to Nancy Green, Michael Hodder, Rick Snow, Saul Teichman, David Tripp and the uspatterns.com site for research assistance then and now.

ANA Announces 17 Candidates for Nine Positions on Board of Governors

Wed, 8 Apr 2009 14:05:09 -0400

ANA Announces 17 Candidates for Nine Positions on Board of Governors

Seventeen members of the American Numismatic Association have accepted nominations for positions on the 2009-11 Board of Governors, Executive Director Larry Shepherd has announced.

Two candidates are running for President; one for Vice President and 14 for seven Governor seats. Each Board member serves a two-year term, and all are elected by the ANA membership on an at-large basis. Nominations closed on March 31 and candidates had until today to accept or decline their nominations.

Board Vice President Patricia Jagger-Finner and Governor Clifford Mishler, both of Iola, WI are running for President. Tom Hallenbeck of Colorado Springs is running unopposed for Vice President.

Candidates for governor are (listed alphabetically):
• Joseph E. Boling of Indianapolis, IN
• Michael L. Ellis of Virginia Beach, VA
• Brian E. Fanton of Hiawatha, IA
• Jeff C. Garrett of Lexington, KY
• Alan Herbert of Belle Fourche, SD
• Paul Hollis of Mandeville, LA
• Chester L. Krause of Iola, WI
• J.P. Martin of Englewood, CO
• Walter A. Ostromecki, Jr. of Panorama City, CA
• Thomas A. Palmer, Jr. of New Smyrna Beach, FL
• Scott Rottinghaus of New London, CT
• Jeffrey Swindling of Jacksonville, FL
• Michael S. Turrini of Vallejo, CA
• Wendell A. Wolka of Greenwood, IN

Election ballots, as well as candidate photographs and biographies/platforms, will be sent by the independent auditing firm of BiggsKofford, P.C., to eligible voting ANA members. The envelope, with a BiggsKofford return address, will indicate that a ballot is enclosed. Ballots will be mailed by May 31 and must be returned to the auditing firm by June 26. Election results will be announced on July 3 with the new Board of Governors sworn in at the ANA's World's Fair of Money convention banquet in Los Angeles on August 8.

Twelve of the candidates attended an open candidates' forum during the National Money Show in Portland; a video of the event is posted online at www.money.org and on www.cointelevision.com. Candidates also will answer an election questionnaire, which will be published in the June issue of The Numismatist.

Metal detectorist finds 1200 year old coin in plowed field

Wed, 8 Apr 2009 13:07:39 -0400

Metal detectorist finds 1200 year old coin in plowed field

After six years of looking, the penny finally dropped for metal detectorist Clive Nobbs.

It was like finding a needle in a haystack, but uncovering the coin in the middle of a 20-acre plowed field was considerably more rewarding for the 47-year-old amateur archaeologist and historian.

This is no ordinary penny. More than 1200 years old, it is an exceptionally rare silver penny of Queen Cynethryth, valued at around £2,000. Cynethryth was the wife of King Offa of Mercia (AD 757-796).

"This is easily the most important thing I've ever found," said Clive, an Assistant Quality Assurance Manager for an aircraft parts supplier. "It didn't look like much when I found it. It was about four or five inches down and black with age but it turns out to be incredibly rare."

The coin will be sold by specialist London auctioneers Morton & Eden on June 9. Specialist Tom Eden said: "This is an exciting discovery. All Cynethryth pennies are rare, but this example is very rare because it bears her portrait. Very little is known of Cynethryth herself, but she must have been held in high esteem for coins to have been issued in her name. Much more is known about her husband, King Offa, one of the great Anglo-Saxon rulers, famous for the dyke he built between Mercia and Wales.

"Cynethryth's coins are the only examples struck in the name of a queen throughout the Dark Ages, both in England and Europe. In fact, no other women appear on English coins until the 12th century, when very rare pennies depicting Matilda were struck during the civil war in the reign of King Stephen. So Cynethryth's coins are the first to depict an English woman and as such are of significant importance from an iconographic point of view."

Proof 1930 Australian Copper Penny Offered for Sale

Wed, 8 Apr 2009 12:49:10 -0400

Proof 1930 Australian copper penny offered for sale

The Proof 1930 Australian copper penny is internationally renowned as the most valuably copper coin of the modern era through its exceptional quality and the circumstances of its striking. One of the original six pennies has just been offered for private sale, expected to sell for around two million dollars. However some experts have questioned the coin's advertised provenance as the Mint Master's coin......

ANA Board Approves Balanced Operating Budget

Wed, 8 Apr 2009 12:38:45 -0400

ANA Board Approves Balanced Operating Budget
Executive Director also reports improvement in overall financial picture

The American Numismatic Association Board of Governors has approved a balanced operating budget for the 2009-10 fiscal year, signaling a momentous financial turnaround for the ANA, which performed under a projected $1.4 million operating deficit in fiscal year 2008-09.

The approved budget, announced during the Board's March 13 open session at the Portland National Money Show™, proposes $4,426,380 in expenses while projecting revenues of $4,562,445 – a surplus of $136,065. Projected legal fees of $211,000 are not factored into the budget, but ANA leadership is optimistic this number could be lower. In addition, Executive Director Larry Shepherd reported significant improvement in the balance sheet, with an increase in the value of the Ben E. Keith Company stock and an infusion of cash into ANA investments.

"A year ago, I challenged Executive Director Larry Shepherd and the ANA leadership to balance the budget in one year," said President Barry Stuppler. "In truth, I felt it may take two or three years to reach this goal, but great leadership and great organizations accept challenges and meet seemingly impossible goals. The fact that a balanced budget was submitted this year reflects exemplary leadership on the part of the Executive Director and the extraordinary work of ANA staff."

Overall, projected 09-10 expenses were reduced by $1,799,442, or 28.9 percent, while projected revenue declined by $331,366, or 7 percent.

Significant expenses were cut by reducing advertising; mailing expenses; printing and publications costs; travel and general administration. Revenue estimates reflect reduced donations as well as sponsorship and advertising revenues, adjusted for the current economic downturn.

Shepherd lauded his senior management team and staff for working together to identify areas where expenses could be reduced without sacrificing member services, the ANA's educational mission or diminishing the overall convention experience. "Most importantly, our belt-tightening efforts did not result in additional job losses for staff," Shepherd said. "While we have not replaced staff members who retired or accepted other opportunities, we have been able to maintain our current staff levels and refocus our efforts to better serve our members."

Shepherd was also pleased to report that the ANA has reduced expenses for the first nine months (April 1-Dec. 31) of fiscal year 08-09 by $796,000, a savings of 18 percent, and that expenses are $723,000 below the 07-08 budget. Revenues for the first three quarters, however, are $61,000 above budget and $231,000 higher than the same period last year. Overall, performance for the first nine months of 2008-09 is nearly $1 million better than the first nine months of 2007-08.

"Through nine months our revenues still exceed the expenses we can control -- in other words, all but legal and depreciation," Shepherd said. "We have analyzed staff members and performance as well as benefits and effectiveness of ANA programs. As a result we are reorganizing several departments and functions to focus more on resources on member services, convention appeal and educational services -- including an expanded Summer Seminar menu -- while further reducing expenses."

Shepherd said legal expenses for the first nine months totaled $546,000, wiping out many of the year's gains. "Hopefully we will be able to put the bulk of legal costs behind us by midyear 2009," he added.

With the balanced budget, the ANA will no longer need to use investment funds to sustain the Association's operations. In an agreement approved by the Board in closed session on March 12, Ben E. Keith Company has agreed to purchase back $5 million in stock from the ANA, leaving a balance after the sale of approximately $10 million, which exceeds the $7.7 million valuation of the stock one year ago.

"As part of our overall restructuring, we converted some of our Keith Stock to more liquid assets," Shepherd said. "This gives us a much more diverse portfolio, and at the same time leaves the ANA dramatically stronger on our balance sheet than we were a year ago. Essentially, we have restored the financial health and stability of this institution." Shepherd said he is particularly pleased that the balanced budget and balance sheet stability have been accomplished without any reduction in member services or in the core mission of the Association. "Our goal is to do a better and more visible job for our members, yet operate leaner and more efficiently."

Superior Galleries Shuts Down Auctions

Fri, 3 Apr 2009 16:18:51 -0400

Superior Galleries a division of Dallas Gold & Silver Exchange (DGSE) abruptly announced that they were suspending all auction activities effective immediately. This includes the scheduled Santa Clara Auction that was to have started yesterday.

The following notice was posted on the Superior Galleries web site by Superior President and CEO Don Ketterling:

Quote:
Dear Friends and Clients of Superior,

We are all facing challenging economic times which require resourcefulness and creativity. Although these decisions re in the long term best interest of all concerned, they are often not easy. Such is the case with our recent decision to suspend all our auction activities beginning with the April 2 Santa Clara Sale.

The current market conditions have forced us to reassess where our strengths lie both in terms of our business model and also for our client's best interests. Every auction company is experiencing reduced revenue and declining consignments which coupled with reduced buyer activity spells unacceptable results for auction prices and. most importantly our client/consignors.

Our immediate goals are to focus on our rare coin. precious metals and jewelry departments, all of which are vital, growing and profitable. We continue to seek talented and experienced individuals for all these activities and forecast a vibrant and exciting second half of 2009. On a personal note, I would like everyone to know that Superior stands ready as a valuable resource for all our clients and colleagues.

Sincerely,
Don Ketterling
President & CEO
Superior Galleries, Inc.

World's Greatest Mint Errors by Mike Byers Available May 15

Fri, 3 Apr 2009 11:32:14 -0400

World's Greatest Mint Errors by Mike Byers Available May 15

World's Greatest Mint Errors is an enjoyable resource packed full of some of the most dramatic, rare and extraordinary mint errors and die trials ever assembled in one publication.

This book combines stunning imagery with the most accurate information available to provide anyone interested in mint errors with the latest information on mint error coins from the United States and around the world. Hundreds of spectacular mint errors are pictured. Each error coin photo is presented in full color, and enlarged to enhance the smallest details. Some of the error coins featured in this book have never been seen by the public before, and each is described in great detail as to the type of error, the assigned grade, rarity and estimated value.

· First published book on mint errors that accurately lists retail values.

· Accessible to any coin collector or numismatist, regardless of experience.

· Up to date with the latest information on new discoveries and new types of errors.

· Hundreds of rare, expensive, and famous coins to excite all collectors.

· Will educate and raise awareness in this fascinating area of numismatics.

The release of World's Greatest Mint Errors will ignite an interest in non-collectors and advanced collectors alike. This book is a must have for every numismatic library!

Releasing on May 15th, look for copies of World's Greatest Mint Errors at your local coin shop or here at Amazon. You can also order from Zyrus Press by mailing to PO Box 17810, Irvine, California 92623, calling (888) 622-7823, or online at www.zyruspress.com.

Unique Ancient Coin Die Tiberius, 14-37 A.D.

Fri, 3 Apr 2009 10:59:23 -0400

Unique Ancient Coin Die Tiberius, 14-37 A.D.
While browsing the upcoming Stacks Saint Ludovico and Firth of Clyde Collections auction catalog set to commence on April 22-23rd at the Doubletree Hotel Chicago in Rosemont , Ill., we cam across a most unusual and unique item we wanted to highlight on CoinLink.

Occasionally numismatic items appear that few have ever seen, and actual production dies are one of these, however a die used to strike ancient coins is an even rarer item.

Below is some background on unique example of an ancient coin die used to strike a Tribute Penny - Denarius of the mint of Lugdunum, and perhaps the first known evidence of early coin brockage.

We hope you find this as interesting as we have.

The Stacks Catalog states the following:

"A Unique Die for a Tribute Penny - Denarius of the mint of Lugdunum. An official die with the obverse of a denarius stuck on the top. Laureate head r.; TI CAESAR DIVI AVG F AVGVSTVS. 161.16 grams. Height: 36.8mm, circumference: 31.4mm at its widest.

In Catalogue des Monnaies de l'Empire Romain, Tiberius- Nero (Paris, 1988), Jean-Baptiste Giard listed 12 known dies, 11 of which having been found in the Lugdunum (Lyon) area (an area of 200km).

Four were found in 1863 at Paray-le-Monial (Saone-et-Loire) and are now in museums. Six were unearthed in Auxerre (Yonne) in 1799, four of which are now at he Cabinet des Médailles de la BnF; the other two reside at the Musee monétaire de la Monnaie de Paris. And one was found at Vertault (Côte d'or).

This die come from an old collection in Poule-les-Echarmaux (Rhône), which is in the same area.

NGC News | A letter from Mark Salzberg

Mon, 22 Dec 2008 19:14:48 -0500

NGC's chairman provides observations of the last 12 months at NGC and looks forward to the opportunities ahead in 2009.

Dear Clients and Community Members:

There's a lot of talk about what the year 2009 will mean for the coin business. I'd like to share some of my observations with you and look back at the past 12 months.

NGC had its share of successes in 2008. Despite the overall economic climate, we certified two million coins in 2008, demonstrating that the coin industry can show strength even in a down market. We made our products more accessible through the development of new submitter relationships and expanded online resources. We also upgraded the security of our products while enhancing their appearance. These developments were very well received.

The clearest demonstration of this is the role that NGC certification played in many of the major numismatic events of 2008. Here are a few of the highlights:

* In February we graded the Queller-Mickley 1804 silver dollar. Only eight of these Class I Dollars exist, and three are permanently held in museum collections. Of the remaining pieces, we have graded four. This example realized $3,737,500 when it sold by Heritage on April 18, the third-highest price ever paid for a coin at auction.

* In April, NGC was first to recognize the newly discovered American Silver Eagle with Reverse of 2007, this series' most significant variety to date. Of the 47,000 reportedly struck, NGC has certified over 14,000, underscoring our leading role in certifying coins for the modern market.

* In May, coins from the steamship New York were offered in a Stack's auction, and all were conserved by NCS and certified by NGC. Several finest known examples were recovered, including two 1844-O eagles graded NGC MS 63 and an 1844-D half eagle graded MS 63 PL.

* Later that same month, the Millennia Collection was sold by Goldberg's. Certified in its entirety by NGC, the collection proved that World coins have entered the stage in a big way. The collection realized over $23 million, at that time the highest total ever for a World coin auction.

* In September NGC graded the unique Russia 1755 pattern 20 Roubles piece. This coin later sold in a St. James' auction in London for approximately £1.55 million (approximately $2.86 million), the highest price ever for a World coin. In combination with the Millennia Collection, such results underscore the fact that NGC has become the undisputed leader in the certification of World coins......

United States Mint Announces New Quarter Designs for 2009

Tue, 16 Dec 2008 11:49:05 -0500

New Quarter Program Honors District of Columbia and United States Territories

WASHINGTON - The United States Mint today announced six new designs that will grace the quarters issued next year to honor the District of Columbia and the five United States territories: the Commonwealth of Puerto Rico, Guam, American Samoa, United States Virgin Islands and Commonwealth of the Northern Mariana Islands. The coins will be put into circulation in approximately two-month intervals throughout the year.

"Like the 50 State Quarters® Program before it, these new quarters will encourage Americans to appreciate the unique history of the District of Columbia and the territories of the United States," said United States Mint Director Ed Moy. "While we focus on each one's individuality, we also recognize the common thread that unites us all."

The designs on the reverse (tails side) of the 2009 quarters feature unique, rotating images emblematic of the District of Columbia and each of the territories. The coins will continue to bear the standard inscription E PLURIBUS UNUM and the year, 2009.

The quarter honoring the District of Columbia debuts in late January 2009. The coin's reverse design features an image of celebrated musician Edward Kennedy "Duke" Ellington seated at a piano with the inscriptions, DUKE ELLINGTON and JUSTICE FOR ALL, the District's official motto. The District of Columbia quarter reverse was designed by United States Mint Artistic Infusion Program (AIP) Master Designer Joel Iskowitz and sculpted by United States Mint Sculptor-Engraver Don Everhart.

The second quarter of 2009, honoring the Commonwealth of Puerto Rico, depicts a sentry box in Old San Juan overlooking the sea with a hibiscus, Puerto Rico's official flower. Isla del Encanto (Island of Enchantment) is also inscribed on the reverse. The Puerto Rico quarter reverse was designed and sculpted by United States Mint Sculptor-Engraver Joseph Menna.

The third quarter of 2009, honoring the territory of Guam, includes an outline of the island of Guam, a latte stone-once used as building support in ancient Chamorro society-and a flying proa (a native boat). Guahan I Tanó ManChamorro (Guam, Land of the Chamorro) is also inscribed on the coin's reverse. The Guam quarter reverse was designed by United States Mint AIP Associate Designer David Westwood and sculpted by United States Mint Sculptor-Engraver Jim Licaretz.

The fourth quarter of 2009 honors the territory of American Samoa. The reverse design features the ava bowl, whisk and staff used in special Samoan ceremonies. SAMOA MUAMUA LE ATUA (Samoa, God is First), the official motto of American Samoa, is inscribed on the reverse. The American Samoa quarter reverse was designed by United States Mint AIP Master Designer Stephen Clark and sculpted by United States Mint Sculptor-Engraver Charles Vickers.

The fifth quarter of 2009 honors the territory of the United States Virgin Islands. The reverse design features the three major islands that comprise the territory with a Banana Quit (the official bird), a Yellow Cedar (the official flower) and a Tyre Palm, a tree native to the United States Virgin Islands. United in Pride and Hope, the territory's official motto, is also inscribed on the reverse. The United States Virgin Islands quarter reverse was designed and sculpted by United States Mint Sculptor-Engraver Joseph Menna.

The last quarter of 2009 honors the Commonwealth of the Northern Mariana Islands. The reverse design features a latte stone on an island with a Carolinian canoe under sail in the lagoon. Two white Fairy Terns (native birds) are depicted in flight together overhead with a Carolinian Mwar (head lei) comprised of plumeria, langilang (ylang ylang), angagha (peacock flower) and teibwo (pacific basil), framing the design. The Northern Mariana Islands quarter reverse was designed by United States Mint AIP Master Designer Richard Masters and sculpted by United States Mint Sculptor-Engraver Phebe Hemphill.

The obverse (heads side) of all six 2009 District of Columbia and U.S. Territories Quarters will continue to display the familiar image of George Washington originally designed by Sculptor John Flanagan in 1932 and modified by former United States Mint Sculptor-Engraver William Cousins in 1999. The inscription "In God We Trust" will continue to appear on the obverse of the quarter, as well as the words "United States of America," "Quarter Dollar," and "Liberty."

The 2009 quarters will be issued into circulation in quantities to meet the needs of the United States, both for commerce and collectors. In addition to producing sufficient quantities of circulating coins to meet the Nation's demand, the Department of the Treasury has the authority to mint and issue uncirculated and proof coins, as well as a 90 percent silver version of each coin. These numismatic versions will be included in the United States Mint's annual product offerings.

Contact: Press inquiries: Michael White (202) 354-7222
Customer Service information: (800) USA MINT (872-6468)

First Bicentennial Ike Dollar "Waffle" Coin Found

Mon, 17 Nov 2008 18:50:03 -0500

First Bicentennial Ike Dollar "Waffle" Coin Found

The first known 1976 Bicentennial design Eisenhower dollar "waffle coin" has been reported by Brian Hendelson, President of Waffle Coin Co. of Bridgewater, New Jersey. It was discovered during the continuing examination of Mint-canceled coins obtained by Classic Coin in 2003, each with the distinctive corrugated, waffle-like pattern left by the Mint's cancellation process,

"It is a Variety Two, dual-dated 1776-1976 Philadelphia Mint Ike dollar, and the first Bicentennial Ike discovered as a Mint-canceled coin. I got pretty excited when I realized what I was holding," said Hendelson. "It's the only one I've ever found."

"The mint takes in coins for exchange that are also waffle canceled. This is, thus far, the only Bicentennial dollar we are aware of that has gone through this cancellation process," said Dave Camire, NGC mint error consultant and President of Numismatic Conservation Services.

Hendelson also discovered a small quantity of 1999 Susan B. Anthony dollar waffle coins. The SBA dollars now are individually certified by Numismatic Guaranty Corporation (NGC) or Global Certification Services.

The Mint uses coin-canceling machines manufactured in The Netherlands to cancel rejected coins and blanks (planchets) prior to sending them to be melted. Rollers on the machine crush and crumple the coins giving them surfaces that resemble a breakfast waffle. Waffle coins are not Mint errors; however, they are Mint products, rejected and canceled at the Mint because of some type of production problem with the specific coin.

"Because they're a product of the United States Mint, the waffle coins have become a popular collectible. Some people are trying to assemble waffle type sets of the available State Quarters," said Hendelson.

The Amazing Eliasberg 1889-CC Dollar, MS68

Mon, 17 Nov 2008 09:46:47 -0500

The Amazing Eliasberg 1889-CC Dollar, MS68
This coin will be offered as part of the Jack Lee Estate Collection in our 2009 January Orlando, FL FUN Auction, taking place January 7-11, 2009. Previews of this and many other numismatic treasures to be offered in this auction are available now at www.HA.com. Bidding will open in mid-December.

Carson City struck their first silver dollars in 1870, the first year of coinage operations. They continued to strike Seated dollars through 1873, and Trade dollars until 1878, in addition to subordinate silver denominations and gold half eagles, eagles, and double eagles. Beginning in 1878, all of the mints, including Carson City, were primarily occupied with the production of silver dollars as a result of the Bland-Allison Act. Gold coins were also in production at the various mints. Coinage of silver dollars continued at Carson City into 1885, when operations of that mint were suspended. The cessation of operations was due to the extreme expense of coinage in comparison to the benefits.

The Mint at Carson City opened again in the third quarter of 1889, with preliminary steps taken to prepare the facility for coinage. Rusty Goe writes in The Mint on Carson Street: "Carson City Mint employees were eager to get back to work in July of 1889. Four years of dormancy had left the facility in a state of disrepair, but clean-up crews removed the cobwebs, aired out the rooms, and dusted off the machinery in preparation for a resurrection of coinage operations."

The 1889-CC Morgan dollar was one of the lower mintage issues of the entire series, with just 350,000 coins produced. All of them were struck during the last three months of the year, with monthly production of 100,000 coins in October and November, and 150,000 coins in December. Many other less famous dates had lower mintages, but Goe explains that the many 1889-CC silver dollars met an early demise: "For unknown reasons, approximately 250,000 to 325,000 1889-CC silver dollars were eventually melted, securing this date as one of the keys to a set of Morgan dollars."

The physical beauty of the Eliasberg 1889-CC dollar was aptly described by Dave Bowers in the Eliasberg catalog: "prooflike. Delicately mottled golden toning over silver, prooflike surfaces. Extremely well struck. A gorgeous, splendid coin in all respects. This is certainly one of the very finest in existence of this exceedingly important date and mintmark, quite possibly the finest. An exciting coin for the connoisseur and specialist." Careful examination with magnification fails to reveal any surface marks on either side of this Superb Gem example. The strike is nearly full, even down to separation of the hair strands over Liberty's ear, almost always a point of weakness on these Morgan dollars.

Record Price for a Morgan Silver Dollar: More than $1 Million for an 1893-S

Mon, 17 Nov 2008 09:37:25 -0500

Record Price for a Morgan Silver Dollar: More than $1 Million for an 1893-S
by Greg Reynolds for CoinLink

When the Norweb 1893-San Francisco Mint dollar was auctioned for $355,500 in Nov. 1988, collectors were stunned. Nobody then thought that a Morgan Dollar could be worth more than a quarter of a million dollars. Indeed, until the Norweb III auction, a Morgan Dollar had probably never before sold for as much as $150,000.

Morgan silver dollars were minted from 1878 to 1904 and, again, in 1921. None of the business strikes (as opposed to Proofs and other special strikings) are very rare. Several dates, however, are extremely rare in MS-65 and higher grades, the gem quality range.

In April 1997, when Jack Lee bought the Eliasberg 1889-Carson City (Nevada) Mint dollar for $462,000, the coin collecting community was surprised. The 1889-CC Morgan is not nearly as scarce as the 1893-S, which is clearly the most elusive business strike Morgan.

The Eliasberg 1889-CC does seem to be the finest known of this date by a substantial margin. Even so, a low grade 1889-CC could easily be acquired for less than one thousand.

In October 2008, a Morgan Dollar broke the million dollar barrier. It is not the Norweb 1893-S nor is it the Eliasberg 1889-CC.

This 1893-S has been graded MS-67 by the Professional Coin Grading Service (PCGS). It was earlier in the collection of Cornelius Vermuele, which is possibly pronounced ‘Virr' and then ‘mule' like the animal. Much of the Vermuele collection was auctioned in New York in Nov. 2001.

The Vermuele 1893-S realized $414,000 in 2001, a price substantially less than the $462,000 realized by the Eliasberg 1889-CC more than four years earlier. Reportedly, the Norweb 1893-S, long before then, had sold privately for significantly more than $414,000.

Both the Eliasberg 1889-CC and the Vermuele 1893-S were in Jack Lee's primary Morgan Dollar collection. Lee later owned the Norweb 1893-S as well.

The Jack Lee estate has consigned the Eliasberg 1889-CC to the January 2009 FUN auction to be held in Orlando. It is plausible that it will realize more than a million dollars.

On Oct. 14, 2008, Chris Napolitano sold the Vermuele 1893-S to Laura Sperber of Legend Numismatics. Napolitano was acting as an agent for a collector who "likes to buy really neat coins." This 1893-S was in a display case at the table of Napolitano's firm during the Sept. 2008 Long Beach Coin, Stamp & Collectible Expo in Los Angeles County. Napolitano declares that the Vermuele coin "is the best ‘93-S out there"!

1795 Reeded Edge Large Cent Found.

Sun, 16 Nov 2008 22:08:32 -0500

A collector in Oregon purchased a 1795 Reeded Edge Large Cent for $1000. This coin has been examined by numerous dealers raw. These various dealers felt the coin to be an alteration so did not take the coin seriously after examination. While they are deciding weather or not this coin is genuine and finally determined it was not, this collector buys it, submits it to PCGS and it comes back Good4. Now I ask you, why didn't these dealers pay $30 to see what PCGS thought? No brainer to me. This collector is expected to get $200,000-$300,000 for the coin.

ANA Seeks Nominations for 2009-11 Board of Governors

Thu, 13 Nov 2008 15:38:36 -0500

ANA Seeks Nominations for 2009-11 Board of Governors

The American Numismatic Association will accept nominations for all nine seats on the 2009-11 Board of Governors, including the offices of President and Vice President, beginning December 1.

To become a candidate for ANA office, a member must receive at least five nominations from member clubs in good standing and at least five nominations from individual members in good standing.

The election process is governed by the ANA bylaws, including the offices and the process for nominations, elections and balloting. Bylaws, codes of ethics, and official nomination forms are posted on the ANA website at www.money.org (select "ANA Election Center" from the "Featured Links" menu).

Nomination forms must be submitted by mail to ANA Executive Director Larry Shepherd, 818 North Cascade Avenue, Colorado Springs, CO 80903. Forms will be accepted no earlier than Dec. 1 and no later than March 31. To obtain nomination forms and guidelines, or for more information, call the ANA Executive Office at 719-482-9840 or e-mail election@money.org.

The new board will be installed at the ANA's 118th Anniversary Convention in Los Angeles on Aug. 8, and will serve as the Association's policy-making body for the next two years. The American Numismatic Association is a nonprofit educational organization dedicated to encouraging people to study and collect money and related items. The ANA helps its 32,000 members and the public discover and explore the world of money through its vast array of education and outreach programs, as well as its museum, library, publications, conventions and seminars. For more information, call 719-632-2646 or visit www.money.org.

DGS Hires Mike Ellis to Keep up with Increased Submissions

Tue, 4 Nov 2008 10:51:45 -0500

DGS Hires Top Grader to Keep up with Increased Submissions

Mike Ellis brings over 20 Years Experience in Research, Grading & Teaching Virginia Beach, VA. Management at Dominion Grading Service (DGS) formally announced this week the hiring of Michael Ellis as a senior grader and variety specialist. Mr. Ellis has over 20 years experience in professional numismatics with a rich resume spanning everything from President of CONECA, to 12 years of teaching at ANA Summer Seminars.

According to DGS President, John Feigenbaum, "Mike comes to us at the ideal time for Dominion [Grading Service]. We've been officially grading coins since April and the number of submissions has gradually increased with each month, to the point that we could no longer keep up with the pace. Collectors are really starting to embrace our services and we see DGS as a trend setter in the future of coin grading. DGS can make a real difference with specialty offerings like variety designations and the grading of error coins. Mike is one of the strongest attributors in the country and we're extremely fortunate to have him aboard."

About Mike Ellis
A coin collector since 1968, Mike comes to DGS with over 20 years experience as a professional numismatist and numismatic educator. He served 12 years as a board member and officer of CONECA; including 4 terms as President of the organization. He has been an instructor for ANA Summer Seminars since 1996, has given several Numismatic Theater presentations at ANA Anniversary Conventions and made many educational appearances at other shows and club meetings across the country.

Ellis first became a consultant to ICG in 1998 serving in that capacity until April of 2006 when he became a full time grader with ANACS, moving to ICG in January of this year when ANACS was sold. Ellis is also an accomplished numismatic writer having penned a column for "Numismatic News," served as editor of "Errorscope" and "Cherrypickers' News," edited "Cherrypickers' Guide to Rare Die Varieties, 4th Edition, Volume I" for which he received an NLG Award, penned numerous articles for several numismatic publications, contributed to dozens of numismatic publications and either wrote or contributed to many numismatic auction catalogs.

For his efforts on behalf of the numismatic community, Mike has been awarded the ANA's "Glenn Smedly Award" and CONECA's highest honor, the "Dr. Lyndon King Award." Mike can be emailed at: mike.ellis@dominiongrading.com.

About DGS
DGS is a third party grading service founded in 2008. DGS offers a number of unique features including AuthentiView ™ and online Visual Population Report. Fees start as low as $10 per coin. Grading is conservative and accurate and problem coins (cleaned, scratch, etc) are certified with description listed on the holder. 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

New Martin Van Buren $1 Coin Debuts on November 13, 2008

Mon, 3 Nov 2008 11:39:05 -0500

New Martin Van Buren $1 Coin Debuts on November 13, 2008

The newest Presidential $1 Coin honoring Martin Van Buren will be available to the public on Thursday, November 13, 2008. Born in 1767 in Kinderhook, New York, Martin Van Buren was the eighth President of the United States (1837-1841).

The son of a farmer and tavern keeper, Van Buren became involved in New York politics and in 1821 was elected to the United States Senate. By 1827, he had emerged as the principal northern leader for Andrew Jackson. President Jackson rewarded Van Buren by appointing him Secretary of State, and viewed him as his most trusted advisor. In 1832, Van Buren was elected Vice President on the Jacksonian ticket, and in 1836 he won the Presidency.

Interestingly, Martin Van Buren was:

1. The first president to be born an American citizen (his predecessors were born before the revolution.)

2. The only president who did not speak English as a first language (he grew up speaking Dutch.)

3. The third president to serve only one term, after John Adams and his son, John Quincy Adams.

4. One of only two people to serve as Secretary of State, Vice-President, and President (the other was Thomas Jefferson.)

5. A key organizer of the Democratic Party and a dominant figure in the Second Party System.

Defeated for reelection by William Henry Harrison and the Whigs in 1840, Van Buren ran unsuccessfully for President on the Free Soil ticket in 1848. He died in 1862 at his Lindenwald estate in Kinderhook.

Make a note on your calendar—contact your financial institution this week about getting the new Martin Van Buren $1 Coins.

Reward Offered in Beverly Hills Coins Theft

Thu, 30 Oct 2008 19:39:45 -0400

Reward Offered in Beverly Hills Coins Theft

(Fallbrook, California) – The Professional Numismatists Guild (PNG) and PNG member-dealer, Kevin Lipton, are jointly offering a $10,000 reward for information leading to the recovery of rare coins and paper money stolen from Lipton's Beverly Hills, California offices. The unknown thief or thieves took more than a quarter-million dollars worth of numismatic items during a break-in on Sunday, October 19, 2008.

"Anyone with information that can help solve this crime is urged to contact Detective Max Subin of the Beverly Hills Police Department at (310) 285-2158, or call the PNG at (760) 728-1300," said PNG Executive Director Robert Brueggeman.

Among the items stolen is an uncut sheet of six $10 notes from The First National Bank of Branchville, New Jersey that is believed to be unique.

Seven MS-66 Saint Gaudens Double Eagles, graded by PCGS or NGC and each with a CAC sticker were taken:
1924 PCGS serial numbers #50241932, #06607136 and #50251605; 1926 PCGS #50135319; 1927 PCGS #21671348 and NGC #56810901; and 1928 NGC #65499304.

Other third-party certified coins taken in the burglary are 1904 $10 NGC MS-62; $20 gold pieces dated1907 $20 NGC MS-63; 1911-D NGC MS-65, 1922 NGC MS-64, 1924 NGC MS-66 and 1928 NGC MS-64; and between 600 and 800 certified First Strike-designated American Silver Eagles: 1991 PCGS MS-69; 1994 NGC MS-68; and 1999 PCGS MS-69.

The following "raw" U.S. coins were taken:
1837 Half Dime MS-65
1858 Half Dime MS-65
1859 Half Dime Proof-64
1892 50¢ Proof-64
1906 50¢ Proof-64
1795 $1 Fine/Very Fine
1797 $1 Very Fine
1868 $1 Proof-64
1913 $2.50 MS-63/64
1915-S Panama-Pacific $2.50 MS-64
1803/2 $5 AU-50
1810 $5 Large Date, Large 5 MS-63
1854-D $5 MS-61
1911-D $5 MS-62
1850 $10 Large Date MS-61
Ten 1908 MS-63 Saint-Gaudens Double Eagles

Several individual and sets of proof American Eagle gold bullion coins in government cases, 39 French 20 Francs pieces, and approximately 600 Canadian silver dollars dated 1935 to 1964 ranging in grades from Very Good to Choice Uncirculated also were stolen.

In addition to the Branchville, New Jersey uncut sheet of six $10 notes, other bank note items taken in the burglary are:

An orange-matted and framed sheet of six notes from The First National Bank of Brandon, Vermont; four $20 notes and two $10 notes; and a box containing miscellaneous, low grade silver certificates and world bank notes.

Founded in 1953, the Professional Numismatists Guild is a nonprofit organization composed of many of the top rare coin and paper money dealers in the United States and seven other countries. PNG member-dealers must adhere to a strict Code of Ethics in the buying and selling of numismatic merchandise.

For additional information about PNG, call (760) 728-1300 or visit online at www.PNGdealers.com.