Crossover, Cross-under, or Cross-out?
Coin Update News
A legitimate “crossover” involves a coin graded by one company earning the same grade by another company. A “cross-under,” as the name implies, entails a graded coin receiving a lower grade by a different company. A “cross-out” concerns a graded coin being returned as non-gradable due to tampering, damage or questionable authenticity. My local dealer has told me that third-tier companies often grade 20 or more points higher on the 70-scale for mint state and proof coins, when compared to NGC or PCGS. I not only agree; I am embarrassed to submit some of these coins in their holders to PCGS, marking “Genuine” on the submission sheet, because sometimes I really do suspect a slabbed counterfeit. I have one such coin now undergoing analysis at PCGS.
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PCGS’s David Hall – How I Got Started
PCGS Blog
I started collecting coins in 1959 at age 12. My grandmother was a coin collector. She was also a heavy smoker. At the time, cigarettes were found in vending machines all over the place, the cost was 22 cents a pack. You put a quarter in the vending machine and you got a pack of cigarettes. Inside the cellophane wrapped pack was your change…three shinny new pennies. That’s how my grandmother got started. She saved pennies, then nickels, then dimes, then quarters and halves, placing them in her Whitman blue book coin albums. My grandfather was very old country (Poland) old school…very conservative. He would not let my grandmother ever buy a coin she needed for her collection.
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The NE (New England) Coinage of 1652
NUmiStories
On May 27, 1652 an act was passed by the Massachusetts General Court providing for the establishment of a mint. Over the next few weeks the Court hashed out the specifics of the mint’s location and operation. It was determined that John Hull, a silversmith, would become mintmaster, along with Hull’s friend Robert Sanderson assisting. Controversy surrounds the actual reasons for the creation of a mint at this time. Phillip Mossman states in his incredible book “Money of the American Colonies and Confederation” that, “the mint came into existence as a reaction to the lightweight, counterfeit, and debased silver coins which appeared in New England very quickly after the initial settlements.”
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Are Price Increases Hurting Annual U.S. Mint Sales?
MInt News Blog
Sales of the United States Mint’s two most popular annual sets, the 2010 Mint Set and the 2010 Proof Set, debuted with lower sales compared to previous years. The increased price for each set may be one of the factors contributing to the decline. This year’s annual sets included price increases of $4 and $2 for the Mint Set and Proof Set, respectively. Both increases took place despite a reduction in the number of coins included in each set. The 2010 Mint Set went on sale July 15, 2010. In the debut sales period through July 18, the US Mint recorded sales of 200,764 sets. In the most recent sales report covering data through July 25, sales had reached 247,085. This is a far cry from the initial sales for the 2009 Mint Set.
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Famous Americans Printed Money
Numismatic News
Now that everyone has safely acquired their 50-state quarters, it might well be time to consider another collecting option when it comes to the original 13 states of the United States, but this time it might be worth considering items that were actually circulating at the time the Founding Fathers were building a nation. It might be surprising to many, but a collection of the notes of the colonies that became the first 13 states is possible and when discussing historically important American notes it is really a collection without peer as such a collection is not possible with coins. In some respects with all the interest in 50-state quarters and the attention given those first days of the nation, it is hard to understand why the notes of the period have received so little attention.
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Dollar Coins Belong in a Pirate Chest
Boston Herald
The deal is supposed to be simple: If I insert a $10 bill for a $2 item, the machine coughs up eight bucks in return. So why are the MBTA Charlie Card machines dumping out Chuck E. Cheese’s tokens? I usually pay my subway fares with a credit card, so I was stunned when the machine at Alewife went into jackpot mode and dispensed a handful of golden one-dollar coins. My change included some Sacagaweas – the tribute to that gorgeous tour guide of the Lewis and Clark expedition – and some obscure U.S. presidents who usually only get mentioned on “Jeopardy!” My first reaction: Skee-Ball, anyone? I may as well try to give a cashier those foil-wrapped chocolate coins. J.P. Fulciniti, owner of Fulciniti’s Market deli in Waltham, tells me he comes across only a few of these dollar coins a week, but they make a memorable impact.
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Stars on Banknotes Are Special
Numismaster
Sometimes the Bureau of Engraving and Printing messes up a note as its printed. It can’t be issued. It must be destroyed, but the accounts must be balanced. What to do? Well, since 1910 the BEP has employed a star at the end of the serial number in place of the letter to indicate that it is a replacement note for one that was destroyed. Collectors love star notes because they are scarcer than regular notes and some of them are downright rare. The percentage of spoiled notes is very small; hence the number of star notes is rather limited. In the early series of U.S. small size notes, the spoilage percentage has been accurately estimated at less than 1 percent of toal notes. No attempt is made to replace any defective note with the same serial number star note.
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2010 U.S. Proof Platinum Eagles Available August 12
U.S. Mint
American Eagle Platinum Proof Coins are collector versions of the official United States Mint American Eagle Platinum Bullion Coins and are available in limited mintages in the one ounce size. The obverse features Lady Liberty, symbolizing vigilance and faithfulness to duty. The reverse design is emblematic of the principle To Establish Justice, the second of six principles of American democracy found in the Preamble to the United States Constitution. It features a blindfolded justice, symbolizing impartiality, holding traditional scales and carrying a branch of laurel. Inscriptions include UNITED STATES OF AMERICA, 1 oz., .9995 PLATINUM, $100, and JUSTICE THE GUARDIAN OF LIBERTY, which is from the East Pediment of the Supreme Court Building.
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How Much Bullion and Rare Coins Should You Own?
Coin Update News
A question I am frequently asked by both new and experienced buyers of precious metals is just how much of one’s portfolio should be devoted to gold, silver, and rare coins? There is no one-size-fits-all answer to this question.  Factors that affect the allocation decision include someone’s current financial position, their amount of liquid assets, their age, the level of potential risk versus reward they can accept, and their commitments that may tie up assets in the future. To help people, I have come up with a range of answers, using the percentage of net worth as the standard.  For some it may be easier to think in terms of percentage of an investment portfolio.
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Fake British £1 coins Increasing
BBC Business News
Nearly two million counterfeit £1 coins were returned to the Royal Mint in the last financial year, figures show. This was more than 23 times higher than the number seized six years earlier, MPs were told. An estimated one in 36 £1 coins in circulation are counterfeit, prompting a campaign by the Royal Mint telling people how to spot fakes. Key signs of counterfeits include a poorly defined ribbed edge or an indistinct design of the Queen.The UK Treasury said that the proportion of counterfeit £1 coins in circulation had only risen slightly in the last year. Attempts to tackle the number of fakes had led to the high number seized and returned to the Royal Mint.
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The U.S. Mint’s Stealth Anti-Counterfeiting Campaign
Dave Harper’s Buzz
In the United States, we have not had a problem with fake $1 coins in circulation, but the Mint, nevertheless, keeps churning out alternative coins. The Ike dollar arrived in 1971, the Anthony in 1978, the Anthony revival in 1999, the Sacagawea dollar in 2000, the Presidential dollars starting in 2007 and the Native American coins starting in 2009. Americans have a choice of five different coin designs to ignore each and every year now. … That’s darn clever of the U.S. Mint. It has successfully defended the U.S. economy from an influx of fake dollar coins and saved its valiant retail merchants from unfortunate losses.
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U.S. Seeking Input for Banknote Modification to Aid the Visually Impaired
SelfServiceWorld
The Federal Register has published for public comment changes to United States Federal Reserve Notes — U.S. paper currency — to make them accessible to the blind and the visually impaired, knowing that the alterations will financially affect some ATM, kiosk and self-checkout owners and operators. “The purpose of this Federal Register notice is to inform the public of the features the Bureau of Engraving and Printing intends to propose to the Secretary of the Treasury to accommodate people who are blind and visually impaired and to solicit public comment on the proposed accommodation,” the Federal Register wrote in the proposal titled, “Meaningful Access To United States Currency for Blind and Visually Impaired Persons.”
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Lawyer’s Dollar Coin Promotion Bypasses Bureaucracy
Jacksonville
Charlie Smith’s outspoken disdain for folding dollars has reached high places. The U.S. Treasury Department has invited the St. Marys lawyer to a meeting in Washington to talk about it. Smith’s ongoing campaign to encourage people, banks and merchants to circulate dollar coins has attracted the attention of treasury officials. He is scheduled to meet with U.S. Treasurer Rosie Rios in September to discuss his ongoing campaign. Smith said the meeting will also include representatives from a coalition supporting dollar coins. “I think they’re interested in the fact that no one with direct interest in the dollar coin is working so hard to make that change happen,” he said. “I’m spreading them all over the country.”
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The Commemorative Wave – 1936
Pinnacle Rarities
Coin collecting in the 1930’s was heated by a willing U.S. Mint, fueled by the interest in the classic commemorative series, and railroaded by a new breed of numismatist – the marketers. These promoters took full advantage of the new urbanization of America. There was an increasing ease, functionality and reliability of the U.S. Postal Service combined with improved printing and advertising mediums. Uncertain times had opened the public’s eyes to alternative investments, and these early dealers took full advantage. Commissions were established and pushed for approval from Congress for the production of commemorative halves. The commission would purchase quantities from the U.S. Mint to resell at a profit, presumably using the proceeds to further the objectives of their respective commission. The scruples of many of these organizations came into question early on.
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Coin Collector and Blogger Interviewed for the Saturday Evening Post
Coin Collector’s Blog
The Saturday Evening Post continues to publish a variety of stories including those of general interest. One of The Post’s regular columns is “Collectible News & Notes.” As part of the column, The Post features a collector and their passion for what they collect. In the July/August 2010 issue (Vol. 283, No. 4), your blog host is the featured collector. I was contacted via email by the writer of the article. After we exchanged a few notes, he called me one afternoon. I happened to have been driving to a local grocery store when he called. I spent most of our one-and-a-half hour conversation while sitting in the parking lot in front of the grocery store. It was a pleasant conversation and I am sure I gave him more information than he asked for.
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Unusual Holey Dollars Head Australian Rare Coin Auction
Paul Fraser Collectibles
Created from mutilated Spanish dollars, these numismatic oddities were Australia’s first currency. The Holey Dollar was a remarkable type of coin – or a way of producing coins – which the British resorted to in order to produce unique currencies for two colonies: Prince Edward Island and New South Wales. In both cases the governors of the colonies responded to shortages in currency by taking Spanish Dollars, first minted at the end of the 15th century, and punching the centre out. The resulting ‘holey dollar’ and ‘dump’ (the outer part and centre respectively) were both used as coins, with additional markings to indicate they were part of a new currency.
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Quantum States, Uncertainty, and the 1907 Gold Ten Dollar Pattern
Heritage Blog
There were two Plain Edge, Wire Rim Saint-Gaudens ten dollar pattern coins made in 1907. Heritage has one of them, the only one known to have survived, in its upcoming Official ANA U.S. Coin auction in Boston. The known history of this particular coin goes back only a few years. Yet recent numismatic research has revealed what happened to the two Plain Edge, Wire Rim tens immediately after they were struck: In mid-July 1907, one was sent to then-Secretary of the Treasury George B. Cortelyou, who forwarded the coin to President Theodore Roosevelt. The other was sent to the coins’ designer, the sculptor Augustus Saint-Gaudens. One coin, two possible destinations… Roosevelt or Saint-Gaudens, president or artist… a quantum pedigree.
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U.S. Mint Fraud?
GoldSeek
One of the more disingenuous frauds the citizens of the United States are being subjected to these days is coming out of the US Mint. For over 2 years the Mint has been illegally rationing gold and silver American Eagles and now the Director of the U.S. Mint, Edmond Moy, is finally on the hot seat. “A congressional subcommittee has been asked to investigate the growing backlog in and foreign procurement of U.S. bullion and collectors’ precious metals coin blanks manufactured by the U.S. Mint.” … The Law clearly states that “the silver coins must be supplied to the US public in ‘quantities sufficient to meet public demand’ EVEN IF it means the US Mint drives up the price of silver bullion on the open market in order to obtain the silver needed to produce the US Silver Eagles.”
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