Editors Note: Below is a glimpse into the $30 Million dollar Legend Numismatics Pattern Deal posted on the “Hot Topics” section of the Legend Numismatics Web Site. Congratulations to both George and Laura, as well as both the Buyer and Seller. A remarkable collection.

” First I’d like thank our customer who has the resources, love of coins, and vision for allowing us to work with him and build his already great collection into one of the greatest collections ever formed. We view his legacy as our legacy as well and have always worked hard to make his collection the best it can be while letting him enjoy the thrill of building it. He has been a good friend to Legend and it has been a dream to work with him. We are proud to have worked with him on this recent acquisition of a major Pattern collection that is valued well in excess of $30,000,000.00!

Our friend began collecting Patterns about 4 years ago. A Stacks Rothschild Collection catalog with some Amazonian silver patterns caught his eye. So he directed me to attend, evaluate, and buy them (the sale was all raw coins). We did very well and got the grades we calculated. I think his favorite coin purchased was a silver Amazonian Half in GEM. The Bickford $10 Gold Pattern (which he now owns) was one of the highlights of the sale, but he was not focused at the time on Gold Patterns.

Between then and now, when really rare and pretty Patterns came up, we’d be instructed to view them and buy them if we liked them. The majority of Patterns we bought were copper. We would “cherry pick” through major Pattern auctions (like the Millennium Sale and this years FUN Sale) to get the best pieces. We’d figure our numbers, but in the end, we’d always stretch to buy the really special pieces. Before we bought this huge collection of 1000 pieces, we had already built a collection with 400 coins. (more…)

Gold ended the week with a loss of more than $47, shaking investor confidence. But the correction was an expected move in the market following gold’s significant run-up in the past months, said MarketWatch.

“Gold’s close below $790 resulted in some technical damage and may result in gold challenging support at the 50 day moving average at $767,” said Mark O’Byrne, director at Gold and Silver Investments Ltd.

“We continue to believe that gold is unlikely to fall below $750 per ounce given the increasing macroeconomic and systemic risk in the world,” O’Byrne said. “A sell-off was expected and given the size of the recent move, it is normal that there be a period of correction and consolidation.”
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The Hawaii Dala, an alternative currency launched here in August, was one of the targets of a raid by federal agents on the Indiana headquarters of the group that promotes Liberty Dollars, a court warrant indicates.

But Bernard von NotHaus, the architect of both currencies and former mintmaster at the Royal Hawaiian Mint, says the two are completely different. He says holders of Hawaii Dalas have nothing to worry about.

He also insists there is nothing illegal about the Liberty Dollar, but is battling the government in court over the issue.

The FBI warrant for the Indiana raid on Thursday listed the Hawaii Dala among the items forfeitable to the U.S. under laws which govern money laundering, mail fraud and wire fraud.

Pat Breeden, chief executive of Royal Hawaiian Heritage Jewelry, one of only a handful of distributors Hawaii Dalas here, says the coins are more of a collector’s item than a true currency. He said yesterday he has had no contact from federal agents.

Hawaii Dalas were minted as silver coins in denominations of $20, $10 and $5, along with a $1 Hawaii Dala silver certificate. von NotHaus could not say how many Hawaii Dalas were currently in circulation, but estimated the total amount to be in the thousands. Read Full Story

Fourth Coin in Coin Series Honors Woman Who Saved Famous Portrait

Photos used with permission and courtesy of The US Mint

WASHINGTON The United States Mint announced today that sales of the Dolley Madison First Spouse Gold Coins will begin on November 19 at 12 noon (ET). This is the fourth coin released in the multi-year program featuring women on a consecutive series of coins.Mintage of the 24-karat gold coin-offered in 1/2-ounce proof and uncirculated versions-will be limited to 20,000 per product option. Orders will be limited to one per option per household for the first week of sales. The United States Mint will reevaluate this limit following the initial sales period and either extend, adjust, or eliminate it.

The obverse of the Dolley Madison First Spouse Gold Coin bears a portrait designed and sculpted by United States Mint Sculptor-Engraver Don Everhart. Included on the coin are the inscriptions “Dolley Madison” and “1809-1817″-the years she served as First Spouse.Additional inscriptions include “In God We Trust,” “Liberty” and “2007.”

The image on the coin’s reverse, which was designed by Artistic Infusion Program (AIP) Master Designer Joel Iskowitz and sculpted by United States Mint Sculptor-Engraver Don Everhart, depicts Dolley Madison saving the Cabinet papers and the renowned Gilbert Stuart portrait of George Washington, as she was forced to flee the White House in advance of approaching British troops in August 1814. Inscriptions on the coin’s reverse include “United States of America,” “E Pluribus Unum,” “$10,” “1/2 oz.” and “.9999 Fine Gold.” (more…)

The ACCG is joined by IAPN and PNG in a complaint filed against the U.S. State Department

GAINESVILLE, Mo., Nov. 15 - The Ancient Coin Collectors Guild (ACCG), an advocacy group for private collectors and independent scholars, announced the filing today of a Freedom of Information Act (FOIA) lawsuit against the U. S. State Department (DOS).

According to Wayne G. Sayles, executive director of the guild, this action became unavoidable due to persistent refusal of the Bureau of Educational and Cultural Affairs (ECA) to provide the guild and others with information relating to requests for import restrictions.

The DOS recently imposed unprecedented import restrictions on ancient coins from Cyprus, requiring importers of even a single common coin of Cypriot type to provide unfair, unworkable and unnecessary documentation.

The ACCG seeks information relating to requests from Cyprus, China and Italy. In each case, apparent irregularities in the way these requests were handled led to significant concerns. Members of the U.S. Senate and House of Representatives also requested similar information on behalf of the ACCG and others. “None of these avenues produced responsive replies,” said Peter K. Tompa, ACCG president. “The reason for this lawsuit is that the DOS has refused to provide meaningful information. We seek transparency and fairness of the process by which decisions affecting the American people are made.” (more…)