Coin Collecting News

The 48th Hong Kong Coin Auction is taking place a little earlier than usual this year, in-line with the Hong Kong International Coin Convention and Antique Watch Fair. As usual the sale will be held at the Holiday Inn Golden Mile, Kowloon, Hong Kong, at 10.00am on the 25 th February, and will feature two sessions (868 lots in total) of predominantly Asian coins and banknotes.

The auction opens with lot 1, a Ming Dynasty (1368-1644) 1-Kuan banknote. The Baldwin’s – Ma Tak Wo auction group sold a similar piece in their last sale for a record breaking US$19,000 and, although this note isn’t in as good condition, they are hopeful that this piece will attract as much attention.

The banknote section continues to show promise with lot 39 a 1908 Hio Lung Kiang Government Bank, Branch Office $5 note in extremely fine condition and leads into an extensive selection of Indian banknotes, the most unique and desirable being lot 227 the 1000 Rupees, first issue note of Hyderabad.

Following the success of the Chinese medals and orders section of the last sale the Hong Kong sale this year offers a smaller but equally as interesting selection. The highlight of the orders is lot 560 – The Order of the Stripped Tiger, First Class Set.

Founded in 1912 by President Yuan Shih-Kai as an award of merit to Chinese Navel and Military Forces, the award cam in nine classes and is no longer awarded. The class is indicated by the number of stars appearing above the tiger’s head and also by the size of the badge itself. Three stars denotes a first class award, two a second class award and one for third class. Lot 560 holds three stars and is in extremely fine condition and estimated at US$12,000 – 15,000. Continued

Reprinted with Permission from Pinnacle-Rarities

Whether or not you need to sell, these five basic steps can help focus your collecting so you can receive maximum enjoyment and profit. Start by getting organized. Next, cull some of the lesser coins from your portfolio. Finally, focus on those areas which are the most meaningful to you.

1. Make A List
The vast majority of our clients keep their coins in safe deposit boxes, and rarely do have an opportunity to look at everything together. Since they were likely acquired over many years, accompanying records and notes tend to get scattered. A comprehensive list of the necessary information is very useful. It will allow you to see exactly which coins you’re missing, which coins you have too many of, and give you a starting point to review your collecting goals. It helps not just to list the date, grade, and denomination, but the certification service, amount paid, purchase date, and source as well.

Having all of this information at your fingertips will prevent mistakes such as purchasing duplicates or passing on coins that you need.

The best charts are sorted first by denomination, then by date, and third by grade. This will make it very easy for you to find coins. The certification number on the holder is useful to keep track of duplicates, and can be important in locating your coins if they are lost or stolen. Knowing whom you bought your coins from is also surprisingly useful. We will always make a stronger offer on coins we’ve sold, since we are picky buyers and we are, therefore, confident the coins will be nice for their respective grades.

2. Cull Your Duplicates
At this point, you may find that you have some extra coins. You may have purchased an MS66 to replace an MS64, without trading the lower grade example, or you may have mistakenly bought two coins of the same date and grade. We recommend that you eliminate those items that are not essential to your collection or portfolio. These coins can either be sold outright, or can be used as trades to reduce the amount of cash necessary for future acquisitions. Continued

1864 Medal for Black Civil War Troops
Numismatic News
Although the United States military has awarded special medals for bravery, notably the Medal of Honor, in the 19th century there was only one medal struck as an award to a body of troops for a particular battle. This was the highly sought-after 1864  “Colored Troops before Richmond” medal, which is an extraordinary reminder of the Civil War and the bravery of black troops in the Union Army.
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Iraq Planning Currency Redenomination
Radio Free Europe
The Iraqi Central Bank is planning to redenominate the national currency in an effort to ease transactions and allow people to carry less paper money, RFE/RL’s Radio Free Iraq (RFI) reports. Mudhhir Muhammad Salih, a member of a Central Bank advisory panel, told RFI that a plan has been made to remove three zeros from the currency and phase out the current banknotes late this year.
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Rounding Without Cents
Dave Harper’s Buzz
I conducted an experiment in rounding on Friday. I didn’t realize I was doing it until I was nearly done. Rounding is a concept that is pertinent to numismatics because it is the suggested remedy to abolishing the cent. Cash transactions that end with one or two cents get rounded down to arrive at the final total. Cash transactions that total three or four cents get rounded up to the next nickel amount.
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Coin Values Market Analysis
Coin World Coin Values
A 1907 Saint-Gaudens, High Relief gold $20 double eagle graded Proof 68 by Numismatic Guaranty Corp. realized $230,000. Unlike NGC, Professional Coin Grading Service does not recognize this particular issue as a Proof, and recently some NGC Proof 1907 High Relief double eagles have remained unsold when offered at auction.
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2010 Lincoln Cent Launch
U.S. Mint
The public and media are invited to the official launch ceremony for the Nation’s new Lincoln “Preservation of the Union” One-Cent Coin, which features a redesigned reverse that will appear on one-cent coins from this year forward.  The coin’s reverse design is emblematic of President Lincoln’s preservation of the United States of America as a single and united country.  The event will take place at the Abraham Lincoln Presidential Museum on Thursday, February 11, at 9:30 a.m. Central Time (CT).  Children 18 years and younger will receive a new 2010 Lincoln “Preservation of the Union” One-Cent Coin to commemorate the event.
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Poland Issues Notes for the 200th Anniversary of Chopin
National Bank of Poland
The National Bank of Poland will commemorate the 200th anniversary of the birth of an eminent Polish composer and pianist Frédéric Chopin by issuing a collector note with the face value of 20 z?oty. The note will be issued at the turn of February and March 2010. It will be sold solely at an internet auction in the Kolekcjoner service. Participation in the auction requires prior registration of an account in the Kolekcjoner internet service. Detailed information on the NBP auction portal can be found at the website www.kolekcjoner.nbp.pl
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