Yes, you can still find valuable coins. Professional Coin Grading Service has certified a recently discovered modern rarity, a 1969 San Francisco Mint doubled die obverse Lincoln Cent. It’s graded PCGS Mint State 64 Red and tied for the finest known!

The coin was discovered by Michigan collector, Michael Tremonti, who was examining two rolls of uncirculated 1969-S cents on October 3. After consulting with well-known error-variety expert, Ken Potter, Tremonti submitted the coin to PCGS.

“I was totally amazed that this coin could turn up out of nowhere. The coin is completely original and full mint red. It’s a beautiful near-Gem example,” said David Hall, PCGS co-founder and president of Collectors Universe, Inc. (NASDAQ: CLCT). “What an incredible find! This could be a six-figure coin.”

Including this latest discovery piece, the PCGS Population Report indicates only 23 1969-S doubled die cents from Very Fine to MS-64, and only two are graded Mint State Red.

The coin discovered by Tremonti has strong doubling on the obverse in the date, 1969, and the words, LIBERTY and IN GOD WE TRUST. It’s described by Potter as “a Class I Rotated Hub with counter-clockwise doubling.”

A1969-S doubled die cent, graded PCGS MS-64 Red Brown was sold for $85,100 in the Bowers and Merena Auctions sale in August. The Tremonti coin is full red, tied for finest known with one other MS-64 Red, and with no higher grade examples in the PCGS Population Report. (more…)

Is it speculation that drove the oil price above $90 last week, or is there something more fundamental happening..?

Well, as I have argued many times here before, I believe that the oil price will rise over the medium term due to fundamental factors. However, the major driver that has pushed WTI futures over $90 and gold to a 28-year high is much more simple that supply and demand. It is a basic human emotion. That emotion is fear…

Investors are scared. They have been moving away from assets that are now seen as risky after profligate and stupid lending in the US prompted a credit crunch. Investors, both private and institutional have therefore been seeking safety.  Read Full Story

Lyn Knight Currency Auctions’ Nov. 8-9 auction in St. Louis, Mo., features the serial No. A1 1882 $20 Gold Certificate and serial No. 1 Original Series Lazy Deuce from New Mexico Territory. This variety of the No. A1 1882 $20 Gold Certificate, Krause-Lemke 551, Friedberg 1175, has never been offered at public auction before, according to Knight.

“Not even the great collection of Albert Grinnell or the vast holdings of Harley Freeman or Amon Carter ever had the opportunity to consider buying this amazing piece of paper money,” Knight said. The sale catalog states:

“The Gold Certificates were part of nine issues, but only four issues circulated widely. The first of those was the Fourth Issue, commonly known as the 1882 Series, which was authorized in denominations from $20 to $10,000, and was the first to have wide circulation. This is the first note issued and printed for this series, and it is the top note from the first sheet. Only one other example, with the hand-signed signature of Thomas Acton, has ever survived.” Read Full Story

Panel To Review New Designs for 2009 Abraham Lincoln Commemorative Coin

The Citizens Coinage Advisory Committee (CCAC) will hold a public meeting November 13 at 9:00 a.m. (ET) at United States Mint Headquarters in Washington, D.C. The purpose of the meeting is to conduct business associated with the CCAC’s responsibility to advise the Secretary of the Treasury on themes and designs pertaining to United States coinage. (more…)

By Greg Reynolds for CoinLink

In the Stack’s auction of Oct. 16th & 17th in New York City, four of the coins sold are Great Rarities. As extensively covered already on CoinLink, a PCGS certified Proof-64 1894-S dime realized $1,552,500, an auction record for a dime. Before the auction, I wrote a preview article regarding the 1876-CC Twenty Cent piece, PCGS graded MS-64, which was sold for $350,750, another auction record!

An upcoming article will be devoted to Kellogg $50 gold coins, and will include coverage of the one that Stack’s sold on Oct. 16. The topic here is the sale of an 1870-S Liberty Seated silver dollar on Oct. 17. The Stack’s cataloguer graded it as “Very Fine-20.” It is generally accepted that this 1870-S dollar has never been submitted to either the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corp. (NGC) for grading and encapsulation.

Also, it is widely believed to be the 1870-S silver dollar that was formerly in the epic collection of King Farouk, who was the Egyptian monarch from the mid 1930s to July 1952. Bidding for the Farouk 1870-S Liberty Seated Dollar on Oct. 17 was intense and joyful.

In order to put the dollar amounts involved in perspective, it is necessary to discuss the values of other 1870-S dollars, and the reasons why potential buyers are willing to pay particular amounts. Yes, there are logical reasons for coin prices.

Only nine 1870-S silver dollars are truly known to exist. There are highly questionable rumors regarding the existence of two others.
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