by Greg Reynolds for CoinLink

During the evening of Friday, Sept. 28, Heritage will auction Jim O’Neal’s set of Indian Half Eagles ($5 gold coins). These were minted from 1908 to 1916, and again in 1929. O’Neal’s set is the “Current Finest” and the fourth “All-Time Finest” such set in the registry of the Professional Coin Grading Service (PCGS). The offering of O’Neal’s collection is one part of the official auction of the Long Beach (CA) Coin, Stamp and Collectible Expo.

The present purpose is to highlight O’Neal’s more newsworthy Indian Head Half Eagles, plus to provide an idea of the meaning and significance of his set. The rules governing the PCGS registry require that only PCGS graded coins may be registered. This O’Neal set is of business strikes, coins made by ordinary means. Business strikes that lack visible wear are said to be uncirculated. The modern concept of ‘Mint State’ roughly approximates the traditional definition of uncirculated. To grade ‘Mint State (or Proof) coins, all eleven points on a scale from 60 to 70 are employed.

O’Neal’s Half Eagles that have attracted a good deal of attention, or are most likely to ‘make news,’ are the ones that are high in the condition rankings for their respective dates. Undoubtedly, there are other Half Eagles in O’Neal’s set that are attractive and desirable, but it is not feasible to discuss them here.

Although the 1909 New Orleans issue (1909-O) is the scarcest date in the Indian Head Half Eagle series, O’Neal’s 1908-Denver, 1914-D and 1914-San Francisco Half Eagles are perhaps the most important coins in his set. His 1910 and 1912 Philadelphia Half Eagles are also newsworthy. For each of these dates, O’Neal’s Half Eagle is likely to be among the finest known, possibly even the finest.

While Indian Head Half Eagles are not very rare coins, collectors are willing to pay tremendous premiums for high quality pieces, especially for coins that are among the five or ten finest for their respective dates. Consider that a 1914-S Half Eagle has a retail value of around $1500 in MS-60 grade and may be worth anywhere from $35,000 to $65,000 in MS-64 grade. (more…)

By Diane Piret (ICTA) for Numismaster

In the Aug. 14 Numismatic News Letters section, a reader, John Matlick stated:

“How about the interstate sales tax issue? We have a law on our books prohibiting coin companies from charging local state sales tax to customers in other states.” He later adds “Why should I, in California, pay sales tax on say, a Heritage auction item in Texas, just because California and Texas signed a pact? Last I heard, the federal government trumps the state in this regard.”

It was obvious that there were some misconceptions on the subject, so I thought perhaps a Viewpoint could help clear things up. To set the record straight, it is the coin, currency and precious metals dealers who should be thanked for achieving sales and use tax exemptions.

Auction Sale 104: On November 1, 2007 George Frederick Kolbe/Fine Numismatic Books will conduct their 104th auction of rare and out of print numismatic literature, a remarkably important sale featuring works from the John J. Pittman Library and an extensive selection of classic numismatic reference works covering the numismatic spectrum. Printed catalogues will be available in early October and can be ordered by sending $15.00 to Kolbe at P. O. Drawer 3100, Crestline, CA 92325. The 1105 lot catalogue is also accessible free of charge at the firm’s web site (www.numislit.com). (more…)

Citizens Coinage Advisory Committee gets into heated debate over 2009 Lincoln penny makeover.

WASHINGTON (AP) — A penny for your thoughts will have extra meaning in 2009 - the 200th anniversary of Abraham Lincoln’s birth and the 100th anniversary of the introduction of the Lincoln penny.

To commemorate the event, the U.S. Mint, at the direction of Congress, will introduce four rotating designs on the 1-cent coin for that year depicting different aspects of Lincoln’s life.

Those designs will replace the engraving of the Lincoln Memorial on the “tails” side of the coin. The famous profile of Lincoln will remain on the “heads” side of the coin. The Citizens Coinage Advisory Committee, which provides recommendations on such matters, met Tuesday and got into a lively debate over what those rotating images should be.