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Coin News Daily September 16, 2008

Banks Crumble, Wait for Physical Bullion Gets Longer
By Patrick A. Heller, Market Update
What has happened to the U.S. dollar, stocks and precious metals markets in the past week has followed almost exactly the script I wrote seven days ago. There has been so much media coverage that I won’t repeat all the details here.
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Live Long and Prosper With Gold Coins from Perth
By Kerry Rodgers, World Coin News
The human mind is a wondrous thing. My first sighting of a matched set of gold coins issued by Perth Mint in July brought immediate recall of Mr. Spock’s salutation from Star Trek. The images displayed on Perth’s coins may be tried and true traditional Chinese, yet they embody the same sentiments and philosophy implicit in that celebrated Vulcan greeting.
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The Laredo Collection of Numismatic Masterpieces
Collector News - Heritage Galleries
One of the more intriguing collections featured in our upcoming September Long Beach, CA US Coin Signature Auction, September 17-21, is the Laredo Collection. An eclectic holding of numismatic masterpieces, this small but important collection reflects the interests of a collector who chose not to specialize, but rather to buy beauty and rarity when they most appealed to him.
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Shell cards serve several purposes after Civil War’s end
By By Paul Gilkes - COIN WORLD
A year before the Civil War ended, diesinkers and manufacturers of that period’s patriotic tokens and store cards found themselves with less business because of an April 1864 act that essentially banned the issuance of the cent-size emergency money substitutes. The firms found a new vehicle and a legal alternative to the cent-sized tokens in the form of American store cards referred to as shell cards.
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COUNTERFEIT COIN NEWSLETTER
by Robert Matthews
This edition of the newsletter sees the introduction of “MY COIN DIARY”. This is an attempt to introduce a more informal and personal section that allows brief items to be mentioned that are more coin than counterfeit coin related. It is hoped it will gradually take on the tone of some of the better blogs.
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What are Presidential Oath Dollars?
By Coin Blog.org
It’s a question a lot of people seem to want to figure out lately. Earlier this month, the Home Shopping Network offered a small number of these coins for $79.95. They reportedly sold out in 30 minutes creating a lot of excitement. This post will summarize some of the information available on the coins.
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£1,000,000 Bank of England Note to be Sold by Spink’s

Famous Bank of England Number Eight £1,000,000 noteSpink has announced the sale of the famous Number Eight £1,000,000 note. It is believed that only two notes of this high denomination exist in the world today, the other numbered 000007.

The million pound note was issued in connection with the Marshall Aid Plan after World War II and was intended for internal use as ‘records of movement,’ for a period of six weeks only. It is believed that nine examples were produced and only two, Numbers Seven and Eight, survived.

The two notes were given as mementoes to the respective U.S. and U.K. Treasury Secretaries. The Number Seven was first sold in 1977 and is listed in the Guinness Book of Records as being the highest denomination note in private hands.

The 8-inch-wide green banknote, numbered 000008, was issued by the Bank of England on Aug. 30, 1948, in connection with the Marshall Aid Plan in the aftermath of World War II. It bears the signature of E. E. Bridges in the lower right hand corner and is cancelled over the signature and stamped 6 October 1948, Bank of England.  Spink’s  said the defunct note, entered for sale by the U.K.-based banknote collector Bill Parkinson, may fetch 35,000 pounds to 40,000 pounds at its Oct. 1 sale of world banknotes.

“This is the highest denomination of banknote we’ve ever sold,” said Barnaby Faull, director of banknotes at Spink. “There are hyperinflation Weimar-period notes for 10 billion marks, but they would only have bought a cup of coffee.” (more…)

Coin News Daily September 15 2008

Shipwreck seeking robot diving for dubloons
By ElectricPig.com - UK
Taking a piggyback on its ship the Odyssey our robotic underwater search machine transports itself to shipwreck sites of old to seek out the booty thats sunk to the bottom of the briny.
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Early Proof Prices Soar
By Mark Ferguson - COIN VALUES
Many collectors are concentrating on obtaining high-grade modern Proof coins, mainly in the Proof 69 and 70 grades for registry sets or just to have near-perfect or perfect coins. Other collectors, however, have been seeking earlier Proof coins from the 19th and 20th centuries.
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Family Helps Bring Coin Board Titan to Life
By David W. Lange - Numismatic News
Last year I wrote an article for Numismatic News (Aug. 7, 2007) which told the story of Joseph Oberwise, a Los Angeles coin dealer and publisher of coin board premium cards during the 1930s and 1940s. Actually, it would be more correct to say that I described what little was known of him at the time. This wasn’t much, consisting mostly of what could be gleaned from federal census records, city directories, old newspapers and his advertisements in numismatic publications.
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Bank Notes of Kuwait Detailed
By Bank Note Reporter
The History of Banknotes in Kuwait by Basem Mohamed Al-Ibrahim, this year’s winner of the International Bank Note Society’s Book of the Year Award, is a fine example of how to make a lot out of a little.
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1999-W 1/10th Eagle $5.00 Gold Matte Finish - Error or Variety?
by Ken Potter - NLG
Some time ago a fellow sent in an error-variety coin with some very interesting questions. He said: “I have a 1999-W $5.00 Gold 1/10th Eagle that was struck by the Mint with an Uncirculated Matte Finish instead of the intended Proof finish for the West Point issue. Is this an error or variety — the grading service states it’s an error? Also, why is it referred to by the grading service as struck with “Unfinished Proof Die” when the die has clearly been “finished” albeit the wrong finish?
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In Defense of Gold
By Christopher Barker - Motley Fool
After recently watching so many courageous athletes give their all to the pursuit of Olympic gold, I simply must defend the honor of this legendary precious metal. I think I actually spoke aloud to myself as I read this recent article by my Foolish colleague Nick Kapur.
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Design of Puerto Rico at issue
By David L. Ganz - Numismatic News
With a choice of two designs, there is an attempt in Puerto Rico to make a third choice for its territorial quarter. With literally days to go before its 2009 territorial quarter design has to be finalized to go before the Commission of Fine Arts and the Citizens Coin Advisory Committee
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Coin News Daily September 12 2008

Precious metals bounce back as dollar retreats

Gold bounced more than 2 percent in Europe on Friday from the previous session’s 11-month low, reflecting gains across the board for precious metals, as the dollar retreated from highs against the euro.
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Namibia: Team Restarts Work At Shipwreck Site

A team of local and international experts visited the site of the discovery of the remains of a wrecked ship, now believed to date from the 16th century, after the sand covering it was removed on Monday, the Permanent Secretary in the Ministry of Youth, National Service, Sport and Culture, Dr Peingeondjabi Shipoh, told The Namibian yesterday.
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Circulated Barbers rise

In step with the five-year-long expansion of the collector base for coins, creating higher demand, the values for circulated Barber silver coinage are creeping higher. For many issues of all three denominations – dimes, quarter dollars and half dollars – wholesale prices dealers pay for inventory are slowly rising.
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Small Issue Sheets of Large Notes a Rarity

The primary factor dictating rarity was the number of notes issued. Sooner or later, every collector searches the Van Belkum data in the Kelly or Hickman-Oakes catalogs to find the smallest issuances from banks of interest.
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Penny to Undergo First Design Change in 50 Years

United States Mint Director Ed Moy and the Abraham Lincoln Bicentennial Commission will hold a news conference at the Lincoln Memorial on Monday, September 22, to unveil the 2009 Abraham Lincoln Bicentennial One-Cent designs-the first time the image on the penny has changed in 50 years.
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2005-P Minnesota Clashed Die Obverse & Reverses

Back in 2006, the 2005-P-D-S Minnesota State quarters with various doubled dies restricted to central areas of the reverse design were red hot!
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Customs eyes syndicate in coin shipment

All shipping containers loaded with scrap metal for export will undergo mandatory examination even as authorities trace the syndicate behind the foiled illegal export of Philippine coins, many of which were in bank wrappers.
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