By Jaime Hernandez posted on PCGS

Some of the most beautiful coins in numismatics today are also some of the most intriguing. A simple look at any of the breathtaking 1964 SMS coins reveals their special numismatic status. The special finish of 1964 SMS coins is characterized by a nice, smooth, satin-like appearance. The fields are usually well struck, very clean and tend to come without any major nicks or scratches. The edges for most 1964 SMS coins also tend to be square and sharp. The bust and legends are usually highly detailed and sharp on most examples, especially when compared to business strike coins. The surfaces are non-reflective compared to proof coins of the era, yet are not the same finish as regular-issue coins for the same year.

The U.S. Mint definitely had a rough year in 1964. That was the year they introduced the Kennedy half dollar series both in MS and Proofs, including hundreds of thousands of 1964-D Peace dollars which were later melted! Most significantly, in 1964 all production of 90% silver coinage was being discontinued because of the rising price of silver. The only coins containing silver would be the Kennedy half dollars dated 1965 to 1970, but even those coins only contained 40% silver.

During this time the Mint was also making plans to produce Special Mint Sets from the years 1965 to 1967. These coins were introduced in hopes of eliminating coin shortage within the nation’s monetary system. Consequently, in order to deter the public from hoarding coins, the Mint produced all 1965 to 1967 Special Mint Set coins without any mintmarks. The Special Mint Sets dated 1965 to 1967 were produced instead of regular mint or proof sets for those three years.

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Collectors Universe, Inc. (Nasdaq: CLCT),  announced financial results for its third fiscal quarter of 2008 ended March 31, 2008.

For the third fiscal quarter of 2008, the Company reported net revenues of $10.9 million and a loss from continuing operations of $966,000, or $0.11 per diluted share. This compares to net revenues of $11.1 million and a loss from continuing operations of $68,000 or $0.01 per diluted share, for the third fiscal quarter of 2007. Results for the third quarter of fiscal 2008 reflect lower coin trade show revenues of approximately $950,000, reflecting one less trade show and more challenging conditions for trade show gold coin submissions in the quarter, due primarily to the rapid increase in gold bullion prices.

Operational and Financial Highlights for the third quarter:
* Despite a 10% decrease in coin revenues quarter-over-quarter, total revenues decreased by only 2% reflecting an 18% increase in our non coin and sportscards revenues.
* Jewelry revenues increased 30% quarter-over-quarter driven by colored gemstone volume increases.
* Reduced investment in diamond and gemstone grading business sales and marketing programs as we enter a more focused marketing phase.
* Reduced expenses in corporate general and administrative by 8% in 2008 March quarter compared to 2007 March quarter.
* A $0.25 cash dividend per common share for the quarter ended March 31, 2008, compared to $0.12 per common share for the same year ago quarter.

Michael Haynes, Chief Executive Officer, stated, “The coin revenues were down in our trade show business and not totally offset by increased revenues in our vintage and modern sectors. The trade shows business was adversely impacted by the considerable increase in gold prices, as a significant portion of the trade show business is associated with gold coins that trade with modest premiums over gold content. All other business segments, including our developing business segment in jewelry, reported higher revenues in the quarter as compared to the same quarter in the previous year. In addition, we began realizing increased operating efficiency in our corporate group which success we intend to expand into all of our operations.”

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2008-W Burnished Uncirculated Silver Eagles have been found displaying two distinct designs from two different years. Beginning in 2008, the US Mint made some dramatic changes to the Silver Eagle coins reverse, possibly to enhance their appearance.

As a result, some 2008-W Uncirculated Silver Eagles submitted to PCGS were found depicting a transitional reverse design or an old style reverse design used in the previous year. Some of the major differences for this new variety are in the lettering on the reverse of the coin, specifically on the letter “U” in “United.” The old style Reverse of 2007 will have an uneven “U” and without a serif underneath the right of the “U”. A new style reverse of 2008 will have a fancier “U” and with a serif underneath the right of the “U.” The thirteen stars on the old reverse are also smaller and will be more separated from one other as opposed to being larger and closer to each other, as seen on the new reverse of 2008. Overall, the lettering from the two different coins contain dramatic and significant differences through out the reverse.

The US Mint has successfully been producing millions of Silver Eagles for the past twenty years without making any major blunders for this series. 2008 will definitely be a special year for Silver Eagle collectors who now have an opportunity to add this first and exciting major variety to this very popular series. Currently, there have been no reports of 2008 non Burnished Silver Eagles containing a Reverse of 2007. However, it is very possible to find 2008 non Burnished coins also containing a Reverse of 2007.

As recognition to this new and dramatic variety, PCGS will recognize these significant varieties and will attribute them as “Reverse of 2007″ on the PCGS holder. In order to receive this variety recognition coins should be sent in under the “Variety Attribution Program” for an additionally $20 fee. Any questions please feel free to contact customer service at 1-800-447-8848.

The Professional Coin Grading Service (PCGS) will display the only complete grading set of “Hot Lips” dollars, one of the most interesting of all the different varieties in the popular Morgan dollar series (1878 - 1921), at the Long Beach Coin, Stamp & Collectibles Expo, May 29 - 31, 2008.

“Some Morgan dollars were struck at the New Orleans Mint in 1888 with a doubled die obverse that produced significant doubling of Miss Liberty’s lips, nose and chin. A faint second eyelid is also visible,” explained Ron Guth, PCGS President.

The unusual variety is listed as 1888-O VAM-4 (for the “VAM” reference book created by Morgan dollar researchers, Leroy C. Van Allen and A. George Mallis), but many collectors refer to it simply as “Hot Lips.”

PCGS will display the Ashmore “Hot Lips” grading set during the show in the Long Beach, California Convention Center. The 21-coin set is owned by Ash Harrison, President of the Society of Silver Dollar Collectors and owner of Ashmore Rare Coins in Greensboro, North Carolina, who has assembled examples of this unusual variety in grades ranging from Poor-1 to Mint State-61, according to BJ Searls, Manager of the PCGS Set RegistrySM program.

Only two are certified PCGS MS-61, and none in higher grade by PCGS. The MS-60 coin in the set formerly was in Van Allen’s personal collection, and is the only Hot Lips variety example certified as Deep Mirror Prooflike (DMPL). With the recent acquisition of this unique coin, Harrison completed the years-long hunt to assemble the first-ever “Hot Lips” set for all reported grades. (more…)

PRECLUDES MILLER FROM SEEKING STATUTORY DAMAGES OF $10.5 MILLION

NEWPORT BEACH, Calif. — Collectors Universe, Inc. reported that on April 23, 2008, the California Supreme Court denied William Miller’s petition for review of the Appellate Court’s decision, issued in February 2008, that Miller is not entitled to statutory damages of $10.5 million against Collectors Universe.

As previously reported, Miller had argued that he was entitled, under California law, to statutorily prescribed damages of $750 for each alleged use of his name by Collectors Universe without his consent and that, since a jury at the trial of the case found that Miller’s name appeared on 14,060 authentication certificates issued by Collectors Universe, he was entitled to statutory damages of $750.00 times 14,060, or approximately $10.5 million in total. The Appellate Court ruled, instead, that the use of his name constituted, at most, a single violation of the statute in question and, therefore, Miller was entitled to no more than $750.00 in statutory damages. Miller then filed a petition with the California Supreme Court seeking a review by that Court of the Appellate Court’s decision.

As a result of the Supreme Court’s action to deny a review of the Appellate Court’s decision, if Miller decides to pursue his claims once again, his only option would be to file, on or before July 7, 2008 for a new trial to reinstate his statutory and common law claims as well as his claim for punitive damages. In any such new trial he would first have to prove that Collectors Universe violated his statutory or common law rights and, even if he succeeded in doing so, he would have to show how, if at all, he was damaged. He would not, however, be entitled to multiply $750.00 by the number of times, if any, that Collectors Universe used his name without his consent, as his measure of damages. The Company cannot predict whether Miller will seek a new trial.