Dallas, TX. A piece of rare and never-circulated Hawaiian paper money - a $500 note that was to be issued in 1879 - is being offered at auction in Rosemont, Illinois on April 16-18. The $500 note, which exists only as a set of proof printings of the face and back plates, is so incredibly rare that it remains unpriced in the standard currency reference guides. The pair of proof printings is one of only two known as well. This pair of proofs is included in the catalog for the Official Auction of the Central States Numismatic Society convention, being held in Rosemont, Illinois on April 17-19. The catalog for the auction is now posted by Heritage Auction Galleries on their HA.com/Currency website.

“With only two such sets known to exist,” explained Heritage currency expert Allen Mincho, “it is understandable that they are unpriced in the Krause reference guide. This set made its public debut at the 1990 auction of the archives of the American Bank Note Printing Company. Designed for the Kingdom of Hawaii, they are printed on proof paper which has been mounted on card stock, as was the custom for ABNCo file copies. The face proof has a folded registry stub as produced which extends over the edge of the card stock.”

“The face of the note,” continued Mincho, “also bears vignettes of King Kamehameha, sailing vessels, a locomotive, and sugar cane harvesting. The obligation clause reads ‘five hundred dollars in silver coin payable to the bearer on demand.’ This design only exists as these proof printings. They have been awarded classification as Pick #5 in that reference guide.” (more…)

By David L. Ganz

Litigation between the government and the Langbord family over 10 1933 double eagles continues in Philadelphia in United States District Court. The latest skirmish was an attempt to depose a number of former government officials on the issue of what they were thinking at the time that they agreed to allow the King Farouk specimen of the 1933 $20 to be sold at public auction.

In a 2002 sale, the Farouk 1933 double eagle was sold by Sotheby’s and Stack’s for $7.59 million. No doubt this was a motivating factor in Joan Langbord’s decision to try and legalize 1933 $20s that were found in a bank’s safety deposit box thanks to the decision made long ago by Israel Switt, a jeweler and sometimes coin dealer in Philadelphia, who was Langbord’s father.

Switt’s metaphorical fingerprints are on all of the known 1933 double eagles that previously circulated and were seized by the government. This includes the Barnard specimen seized in 1947; J.F. Bell’s coin offered by Stack’s in 1944, the Flanigan specimen of 1943, the James A. Stack specimen seized in 1951 and others.

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By: Mark O’Byrne, Gold & Silver Investments Limited

Further to recent articles containing unfounded rumours and allegations alleging that the Perth Mint does not have physical precious metals (especially silver) to back its storage programmes or to make deliveries we have received a few phone calls and emails from concerned clientele.

Both the Perth Mint and Gold Investments strongly refute these absolutely baseless allegations.

Firstly, it is important to remember that the Perth Mint is owned by the Government of Western Australia and is run within very strict and ethical guidelines. The Perth Mint does not and would not contravene the law and act in a manner which would embarrass its government owner. Indeed because it is government owned it has to be absolutely scrupulous in adhering to strict business procedures. For every ounce of precious metal that is sold to a client, the Perth Mint must buy a corresponding ounce in the marketplace. The Perth Mint is audited rigorously by the Auditor General of Western Australia as well as by internal auditors Price Waterhouse Coopers, to ensure that this policy is maintained at all times.

The Perth Mint holds full inventory confirmations on a quarterly basis as well as the comprehensive audits. The Perth Mint Depository programs are not permitted to, and do not, run short positions under any circumstances The Perth Mint does not lease metal out to mining or exploration companies and does not undertake precious metal derivative transactions.

The Mint shares concerns about pool and unallocated accounts where it cannot be established if the operator is backing its liabilities to investors. Gold Investments would advise investors to research and question any program or facility they are investing in.

The Perth Mint Certificate Program remains one of the world’s safest and securest ways of owning gold and silver offshore. All methods of investing in precious metals have pros and cons. However we are confident that the AAA rated government Perth Mint is the safest option when it comes to third party precious metal ownership. (more…)

WASHINGTON - Collectors can begin purchasing shiny, new quarters honoring New Mexico directly from the United States Mint at noon (ET) on April 7, 2008. The New Mexico commemorative quarter-dollar is available for approximately 10 weeks, and options include a two-roll set priced at $32.95, and 100- and 1,000 coin bags priced at $32.95 and $309.95, respectively. There is no order limit on these options.

The New Mexico quarter-dollar is the 47th coin released in the United States Mint’s 50 State Quarters® Program and the second commemorative quarter issued in 2008. The coin’s obverse features a Zia sun symbol superimposed over a topographical outline of the State. Inscriptions on the coin are “Land of Enchantment,” “New Mexico” and “1912.”

Struck on the main production floors at the United States Mint facilities at Denver and Philadelphia, the coins in the New Mexico quarter-dollar bags and rolls were minted for use in general circulation. Each canvas bag carries a tag with the mint of origin and the monetary value of its contents ($25 or $250). The two-roll sets include one roll each of 40 coins wrapped in distinctive packaging bearing the 50 State Quarters logo and the “D” and “P” mint marks. The packaging also bears the official state abbreviation “NM” and the dollar value of the contents.
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Jeff Makkos of Ohio reports finding a double struck 2007-P James Madison dollar in a Mint-issue set. The type of double strike involved is what errorists refer to as an “In-Collar Double Strike with Rotation Between Strikes.”

The cause may be due to two different scenarios.

The first possibility is that the coin was struck normally and then reentered the coining area falling back over the collar where it was forced back into the collar by a second strike in a position rotated just a few degrees away from the original strike.

Another possibility suggested by CONECA president Mike Diamond, is that coin remained in the collar while the inner sleeve of the collar broke loose and rotated within resulting in the same effect.

Because a coin normally expands in diameter ever so slightly upon ejection it is difficult for it to completely reenter the collar unless forced. The forcing of the coin into the collar often results in it only being forced part way and and edge that looks to have two levels or what is known as a “Partial Collar.” Makkos’ coin does not show a partial collar, indicating that it was either forced all the way back into the collar during the second strike or could have been in a rotating collar.
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