« January 26, 2012 »
21:45. Peace, dollars and Peace dollars, an article on the history of the U.S. silver Peace dollars, from Pinnacle Rarities:
World War I was called "The War to End All Wars." The sad irony is that it was arguably the war to begin all wars - at least for the modern era. A couple generations (or more) removed, it's hard for us to get inside the average man's head from 1921. But the horrors of that war included the use of nerve gas and mass genocide for the achievement of military goals.
Pinnacle Rarites.
The resulting carnage statistics are estimated at over fifteen million civilian and military deaths. With that in mind, it's easier to understand the sentiment for peace was overwhelming, and from this passion the Peace dollar was born. ...
The cost of the war was paid in silver from melted silver dollars. As our currency at the time was backed by silver dollars in the treasury vaults, the result of this debt was a recall on circulating silver certificates. Dollar production had been on hiatus since 1904, but the Pittman Act of 1918 ordered over 270,000,000 silver dollars to be coined to relieve this debt and replenish the Treasury's coffers.
The U.S. was going through a recessionary cycle and the Pittman Act went a long way to helping the economy recover. While authorization of the coinage of silver dollars passed in 1918, it wasn't until three years later that the Peace dollar design was implemented. ...
The idea behind the new dollar design was a commemorative example to serve as a reminder of the atrocities from the war and the value of peace. The path to the enactment of the design was as turbulent as the road to peace itself.
Read the whole article.
21:16. There are two types of gold: that which I have, and that which I don't. Or this.
21:07. Libya banknote news:
A new 10-dinar note-
Libya 10-dinar banknote. Banknote News.
Banks in Libya are withdrawing 50-dinar banknotes with Muammar Gaddifi's portrait-
Libya Muammar Gaddafi 50-dinar banknote. Banknote News.
20:26. A red flag for the gold bulls: Iran's currency collapse causes gold prices to 'soar'.
20:22. For some, perhaps, an overlooked collecting idea: National Bank notes of the hometown locale.
20:21. Swaziland, South Africa to make changes to that nation's coinage, including a possible elimination of the 5-cent coin.
19:43. The New Zealand Mint has updated their website:
The New Zealand Mint website.
19:29. Teaser from David Lawrence Rare Coins (DLRC): "Breaking news… DLRC acquires one of the top PCGS Registry collections in a MAJOR series…stay tuned".
19:21. "Coins that I never see with good eye appeal, Part 2: quarter eagles" by Doug Winter, Rare Gold Coins:
Note that I said “good eye appeal.” This doesn’t mean that I’m focusing on the rarest dates in the series. Obviously, issues like the 1841 and the 1854-S are very rare in all grades and rarer still with good eye appeal. But that’s not my emphasis here. Rather, I am interested in coins that while scarce or even rare based on their overall availability, are especially rare with choice, original surfaces.
As a rule, most pre-Classic Head quarter eagles are scarce to rare in all grades and harder still to find with good eye appeal. One issue that comes to mind as a coin that is just about never seen with good eye appeal is the 1796 With Stars. As you would suppose from a coin with just 432 struck, it is a rarity in all grades. But what most people do not realize is that nearly all surivors are either unoriginal and unappealing or they show multiple planchet imperfections as on many other of the gold issues produced during this year.
19:04. The Central Bank of Laos is issuing new 100000-kip banknotes to encourage the use of national currency rather than U.S. dollars.
The new division will, for the first time, enable collectors to own art from the celebrated and renowned sculptor and painter, Lorenzo Ghiglieri, in the form of pure silver. To commemorate the company’s initial offering, early investors will be given rebate certificates with entitlement to monthly rebates based on profits earned, up to 100% of the purchase price.
“As with any new business venture, in order to be truly successful it’s important to be first and different. This is especially true in the bullion industry,” said Mark Ghiglieri, CEO and founder of Masterpiece Investments. “We want to provide our clients with a valuable investment while introducing them to the world of fine art.”
15:30. The 1970-S half dollar shall rise, again, maybe.
15:27. Affordability and income affect coin collecting habits. Who knew?
Lately, middle class collectors have greatly curtailed the way they collect. This is because of reduced, or even the loss of, incomes and the fear of losing incomes in the near future, as well as paying down debts. ...
On the other end of the spectrum, on the level of the wealthy, coin collecting has been expanding during recent years. Again, the profit motive is a great driver of this segment of the market, but as the wealthy investor of today has become more interested in collecting coins for profit, this end has actually brought many wealthy investors to the point of enjoyment in collecting.
13:50. Two dollar bills, coffee, and the Second Amendment, on Valentine's Day.
13:20. An analysis of recent U.S. Mint sales:
Throw out the debuting 2012 America the Beautiful Quarters Proof Set from the latest United States Mint weekly sales figures and there are only a few interesting items of note left.
Numismatic (and bullion) product sales are significantly slower in this round. Specifically, 29 U.S. Mint products improved over their prior weekly sales versus the 48 out-performers noted in the previous sales report. Two-dozen of the overachievers were lower priced products. In the $50+ category of mint offerings, only a handful of week-over-week gains were realized. Those included the 2011-W Proof Platinum Eagle and four First Spouse Gold Coins.
13:20. Trying to define what coin doctoring is, and not succeeding:
A revised draft on “coin doctoring” submitted to the Professional Numismatists Guild by a select committee tasked to author an updated definition, failed to gain the approval of the PNG’s membership at a meeting held in January at the Florida United Numismatists convention in Orlando. …
In response to a Coin World query about the January proceedings, PNG President Jeffrey Bernberg said in an email, “The 17 member committee, after hundreds of hours of work, came to the conclusion that it had become impossible to delineate each and every thing that could be done to coins and be considered ‘doctoring’. Rather [than] listing what is [permissible] to do to coins, it is their intention to limit what cannot be done and basically go after intent, which covers all types of fraudulent alterations. It is the committee’s expectation to get back to the PNG board within the next 30 days. Additionally, there is some ‘new blood’ that has been asked to join the committee and one member has resigned.”
11:09. ANA Money Museum thief went to Australia to see the coins he stole auctioned:
Four months after leaving his post March 21, 2007, as curator at the American Numismatics Association’s Edward C. Rochette Money Museum in Colorado Springs, Colo., Wyatt E. Yeager traveled to Melbourne, Australia, to attend a public auction of coins he has since admitted he stole from the ANA museum.
During Yeager’s plea hearing Jan. 12 in Federal District Court in Wilmington, Del., Assistant U.S. Attorney David L. Hall told presiding Judge Leonard A. Stark: “The American Numismatic Association contacted Mr. Noble of Noble Numismatics, and Mr. Noble confirmed that Mr. Yeager had been present in Australia for that auction, and that they had sold the coins, the coins that were missing from the ANA, at auction.”
11:06. This Month in Currency News from Heritage, highlighting a $100 'Watermelon' banknote to be offered at Long Beach:
The February Long Beach Heritage Signature Auction will include a special fifty lot Signature Currency Auction. Among the notes being offered is one of the most highly prized examples of U.S. paper money, a $100 Watermelon note. The manner in which the number 100 on the back of the $100 1890 Treasury notes and the number 1000 on the back of the $1000 were designed resembles the outside rind of a watermelon, leading to their nickname. The design earned the number eighteen spot on the list of the 100 Greatest American Currency Notes and would likely have taken a higher place if not for the $1000 denomination, which ranked at the very top of the list.
U.S. $100 Watermelon banknote. Heritage Auctions.
06:30. More items are discovered missing from the ANA's Money Museum:
At least 23 additional coins and patterns, a 73-pound silver bar and five gold nuggets are missing from the American Numismatic Association’s Edward C. Rochette Money Museum in Colorado Springs, Colo.
According to ANA officials, the estimated market value in 2008, based on records and images of the missing items, was $420,590.
ANA President Tom Hallenbeck said Jan. 19 that law enforcement and ANA officials had been aware of the additional missing items Jan. 12, but chose not to disclose the information at the time in order to avoid confusion.
“We did not disclose the list initially because we were focusing on items Wyatt Yeager had admitted stealing,” Hallenbeck explained.
1792 half disme, missing from the ANA Museum. Coin World.
06:25. Gold type coin prices rebound as gold bullion trends upward.
06:15. Fighting crime in the numismatic world:
I am not sure how much altruism is going on in the numismatic marketplace, but a candidate for the description could be Doug Davis, who conducts the Numismatic Crime Information Center and who has done a lot for the hobby in recent years.
While the likelihood of having your coins, paper money, tokens or medals stolen is small, it does happen, and Doug offers help.
Set up as a nonprofit corporation, NCIC’s mission is to serve as “a national and international resource for the education, prevention and investigation of crimes involving coins, paper money, tokens, and related numismatic items.” Its operations include assisting law enforcement agencies during investigations, maintaining a database of numismatic crimes, hosting www.numismaticcrimes.org with current news and downloadable resources, email alerts of crimes and monthly newsletters, and service as an advocate for numismatic crime victims.
06:12. Greg Reynolds discusses the Bust half dollars offered at the recent FUN acutions in Florida.
06:10. The Government Museum Egmore India has acquired an Augustus Humbert gold coin.
06:05. James Bucki, About.com coin guide, tells and shows how to grade Buffalo nickels.
06:02. The Central Bank of Irleland has issued a special edition coin honoring Jack B. Yeats, the first Irish person to win an Olympic medal.
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