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.

NGC has discovered that 2008-W Uncirculated Silver Eagles have been struck with two different reverse types. Many are aware that Silver Eagles issued in 2008 show numerous subtle modifications to their design. NGC has now confirmed that 2008-W Uncirculated Silver Eagles were also struck using reverse dies of the pre-modification style, or reverse type of 2007.

The two reverse styles are very easy to distinguish from one another. As NGC previously reported, the most obvious identification diagnostic is the U of UNITED on the coin’s reverse. On the Reverse of 2008, the U has a spur on the right side of the letter. The Reverse of 2007, has simply a bowl-shaped U, without spur or downstroke. A number of other diagnostics are evident and are illustrated below.

NGC is designating 2008-W Silver Eagles with reverse style of 2007 as REVERSE OF 2007. Coins of the newly modified style, or Reverse of 2008, are encapsulated without designation. “This is a significant hub variety,” comments Rick Montgomery, NGC President. “It has very clear diagnostics, and appears on one of the most widely collected of all US coins. We’re also very proud to be the first to present this information to the numismatic community and to attribute the variety as part of the NGC certification process.”

Read Full Article by NGC on the Discovery

PCI Brand Name is Discontinued, but Holder will be used for DGS Slabs

Virginia Beach, VA. The owner of the PCI grading service announced today that they have launched a new numismatic grading and authentication company named Dominion Grading Service, or DGS.

John Feigenbaum, President, stated today that “we had initially planned to keep the PCI brand name, but we quickly realized that it would be impossible to overcome the confusion that would ensue as we endeavor to recalibrate the [PCI] grading standards. Therefore, we have decided to discontinue the PCI brand in favor of an all-new grading company named Dominion Grading Service.“

Dominion will be using the same holder as PCI, but that’s where the similarities end. DGS grading will be based on strict standards (i.e. Photograde, for circulated coins). On mint state coinage, DGS will grade conservatively with a focus on eye appeal, freshness of surfaces (including originality) and marketability.

Feigenbaum continued, “The Company is a fresh start for us in creating what we hope will be an ideal certification service designed specifically for collector submissions. We are not looking for bulk submitters in the trade. At David Lawrence Rare Coins, we’ve had the good fortune to deal personally with thousands of collectors for nearly 30 years…and DGS is a great opportunity to bring that experience to the forefront as we deliver top-level customer service and conservative grading standards. We also want to personalize the relationship by adding innovative services, the same way we’ve done at David Lawrence and DLRC Auctions.”

DGS is currently in the final stages of preparing software for processing orders. Submissions are currently being accepted but grading will not start officially until May 1. Orders will be processed in the order received. (more…)

By Skip Fazzari, Authentication Consultant to NGC

Fingerprints are like a cancer to a coin, and can become irreparable if they are ignored for too long. Skip Fazzari describes the different types of fingerprints and what you can do to correct them.

For most of you, habit and experience have lessened the odds of marring the surface of your coins with fingerprints. You hold a coin properly — by its edges and close to a soft surface. Occasionally, there might be a lapse in this protocol but in most cases, we can assume that any fingerprints found on your coins resulted from carelessness or mishandling by non-collectors.
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It is difficult to know how long a fingerprint has been on a coin. Sometimes, especially in the case of Proof coins, they are easy to see the moment they occur; however, in most cases, fingerprints are not detected when they are fresh. Fingerprints are like a cancer to a coin. If ignored for too long, the chemicals in our body oils will actually etch the coinage metal. Over a period of time, and depending on their chemical makeup and the environment, they will “set” on a coin’s surface, making them difficult to remove. Copper and silver coins are the most likely to be permanently damaged in this way. Once this happens, the traces of fingerprints are virtually impossible to remove without abrasive cleaning that ruins more of the coin’s original surface. For the most part, gold is not susceptible to any type of permanent damage from fingerprints; however, on a few occasions, I have encountered a print pattern on gold that cannot be removed.  Read Full Article