By David L. Ganz

House Financial Services Committee Chairman Barney Frank, D-Mass., abruptly canceled a hearing first slated for Oct. 31, and then Nov. 7, that had been designed to deal with the administration’s attempt to take control from Congress of coinage size, weight, composition and design, and another congressman’s attempt to hijack the cent melting prohibition for a constituent who wanted to melt pennies and send the metal to China.

Opposition mounted from Rep. Spencer Bachus, R-Ala., ranking minority member of the full committee, which has charge of all coin and currency matters. The full committee was once known as the Banking and Currency Committee and Banking, Housing and Urban Affairs. Special subcommittees used to handle coinage matters and developed an expertise in the field; more recently, the full committee has handled coinage matters as an ancillary or subsidiary function to the main work of the unit.

On Oct. 31, the committee had scheduled a grueling day of hearings on several bills, two of which had numismatic consequences. One was canceled because of Republican opposition led by Bachus; the unit unanimously approved and sent to the House floor four other matters including one coin bill. Read Full Story

Market Report by Doug Winter - RareGoldCoins.com

I recently completed cataloging the Carolina Circle Collection of Charlotte gold coinage for Heritage. This collection, which was primarily formed in the 1970’s and 1980’s, is going to be sold by Heritage during their 2008 FUN auction. It is a virtually complete collection, missing only the 1849-C Open Wreath gold dollar and it contains some of the nicest—and freshest—coins from Charlotte that I have seen in some time.

I have known the owner of this collection for a number of years and when he made the decision to sell, I suggested that he place the coins in the 2008 FUN auction. About 40% of the collection is housed in very old PCGS and NGC holders and I suggested to this individual that he keep the coins in these old slabs; despite the fact that many of them appeared to be significantly undergraded by today’s standards.

What I really like about this collection is the originality of many of the coins. Almost all of them are in the EF40 to AU58 range and a number are notable for their superb original color and unadulterated surfaces. There are a few individual coins that I think rank as among the most attractive Charlotte gold coins I have ever seen; regardless of date or denomination. (more…)

by Wayne G. Sayles

Suddenly, the Archaeological Institute of America is interested in ancient coins. That is good. The more that archaeologists learn about coins from antiquity, the more they will realize that the context within which they are found is merely one aspect, and a small one at that, of the tremendous historical resource that coins present. Unfortunately, the AIA’s motives for this blossoming interest are suspect.

Having virtually ignored coins for scores of years, why is the AIA disposed now to highlight the value of coins to archaeology? The answer is really quite basic. The numismatic community, comprised primarily of independent scholars, has argued effectively that archaeologists do not have a preeminent claim to the acquisition or study of ancient coins, much less to the dissemination of knowledge about them and about the past from whence they came. If the AIA were to acknowledge this simple fact, it would expose a chink in the armor of their perceived supremacy.

So, be prepared to see a lot more ink spilled by the AIA and other archaeological support groups regarding the “importance” of coins. Oddly, collectors have always known that coins are important. This awakening by archaeologists is probably a good thing if they really consider the issues rather than just fill the web and print media with institutional propaganda. (more…)

The U.S. Mint is rolling out its fourth new presidential coin on Thursday, this one bearing the likeness of James Madison, the father of the Constitution.

While there are a lot of doubters, Mint Director Ed Moy says he is hopeful that the latest attempt to introduce a dollar coin will be more successful than previous efforts. The past two dollar coins — the Susan B. Anthony, introduced in 1979, and the Sacagawea, introduced in 2000, were spectacular flops.

The new presidential coins, in an effort to tap into the huge success of the 50-state quarter program, feature a changing design with a new president introduced every three months in the order they served in office. The hope is that the changing designs will keep interest high and avoid the sharp drop-off in demand seen with other coins after their initial introduction. Read Full Article