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News on CoinWeek

CoinLink — Tue, 22 Mar 2011 15:11:19 +0000

Here are some recent articles you can find on the new CoinWeek website! CoinLink has renamed itself to CoinWeek, and we are still providing the great news you’ve had in the past.

US Attorney Says Attempts To Use “Liberty Dollar” As Money Is Domestic Terrorism – Von Nothaus Found Guilty
Liberty Dollar creator and self proclaimed “monetary architect” Bernard Von NotHaus was found guilty in US federal court in North Carolina on Friday of Counterfeiting and Fraud. The Justice Department asserted that Von NotHaus was placing gold, and silver coins, along with precious metals currency into circulation with the purpose of mixing them “into the current money of the United States.”
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The Sacramento ANA Show
Any locale where it takes a change of planes to get to will not draw the major dealers. You can also bet it won’t draw the crowds of buyers either. That’s exactly what happened at Sacramento. The results sadly were as excepted for us (and others): VERY disappointing. For sure a huge segment of dealers elected not to attend. The majority of East Coast dealers also stayed away because the Baltimore Show is 2 weeks away.
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Coin Profile: Proof 1836 50/00 Capped Bust Half Dollar
Writing in the 1989 edition of his encyclopedia of U.S. and Colonial proof coins, the late Walter Breen accounts for four die marriages of the proof 1836 Lettered Edge Capped Bust Half Dollar. Of the four varieties, two are of perhaps the greatest interest to advanced Bust Half Dollar enthusiasts: the 1836/1336 O-108, and this coin,the 50/00 O-116 blundered reverse.
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8-Pound California Gold Nugget Sells for $460K at Holabird-Kagin Americana Auction
The LARGEST CALIFORNIA GOLD RUSH NUGGET left in existence, the 100 troy ounce gold nugget discovered last year in Nevada County, California, was sold at auction by Holabird-Kagin Americana on March 16th in Sacramento for $460,000.
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BBB Warns Austin-Based Coin Firms Ads May Be Peddling ‘Fool’s Gold’
Consumers nationwide should be on the alert for advertisements from two Texas-based companies that are using newspapers to sell gold bullion coins “completely free of dealer mark-up,” Better Business Bureau (BBB) warns. The companies appear to be using the ads to entice consumers to buy more expensive “collector coins” at prices significantly higher than they could be bought elsewhere.
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Coin Rarities & Related Topics: Changes in Demand for Rare U.S. Coins So Far in 2011
After discussing the motivations and strategies of bidders at coin auctions last week, and the meaning of auction prices in general, I am directing attention to current coin markets overall. I have posed questions to and debated many dealers, some of whom do not wish to be quoted, regarding price changes and demand for rare coins in 2011.
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More News at a Glance – December 28, 2010

CoinLink — Tue, 28 Dec 2010 17:33:26 +0000

Cents of 1794-1795 Reflect Changes
Numismaster
Those collectors who specialize in the early copper cents often have a soft place in their hearts for coins dated 1794 and, to a lesser extent, 1795. The cents of 1794 in particular have been studied with great care by researchers for 150 years yet new information still comes our way from time to time. The years 1794 and 1795 were an era of great change in the copper coinage, perhaps more so than at any other time in the history of the old large cents.
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‘One of world’s largest gold coins’ estimated at $600,000 at Heritage
Paul Fraser Collectibles
It was struck for the first Olympic Games in China with ancient stone carving techniques. Heritage Auctions’ World & Ancient Coins sale on January 3-4 is billed as being its “largest” World Coin auction to date – and one of the most hotly anticipated lots in the auction is also one of the largest gold coins in the world.
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2011 Platinum Eagle Design Candidates Reviewed by CFA
Coin Update News
The Commission of Fine Arts (CFA) has recently reviewed the design candidates for the 2011 Proof Platinum Eagle. This coin will feature the concept “To Insure Domestic Tranquility.” The collector version of the American Platinum Eagle is in the middle of a six year design series exploring the core concepts of American Democracy. Each concept is presented on the reverse design of the coin, while the obverse of each coin features an image of the Statue of Liberty designed by John Mercanti.
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Counterfeit Detection: 1914-D Buffalo Nickel
NGC
Unscrupulous people have made counterfeit and altered coins to fool collectors since time immemorial. These fakes were almost always key or semi-key dates, and collectors knew to exercise additional caution with coins such as the 1909-S VDB Lincoln Cent or the 1916-D Mercury Dime. Common date gold coins were also copied, particularly in the 1960s and 1970s, because of their intrinsic value. Coins with little collector value were generally ignored by counterfeiters because there was not a lot to gain.
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2011 Annual Sets Release Dates
Mint News Blog
The release dates are now available for the United States Mint’s 2011 Proof Set, 2011 Mint Set, and 2011 Silver Proof Set. The Mint had previously announced that these products would be available earlier in the year due to collector feedback. The 2011 Proof Set containing 14 different proof coins struck at the San Francisco Mint will be released on January 11, 2011. The 2011 Silver Proof Set, containing 90% silver versions of the proof dime, quarters, and half dollar, along with the remaining coins in standard compositions will be released on January 25, 2011.
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Public waits for 5 oz coins
Numismatic News
People who want to buy the new 5-ounce America the Beautiful silver bullion coin are caught up in a circle of supply and demand. The demand is there, but the supply of coins is limited and the normal distribution channels are clogged. Only 33,000 of each of the five designs were minted, far short of the 100,000 mintage originally planned. “That’s really a big problem,” said Lee Crane of L&C Coins. “I think the Mint didn’t read the market really well. They are creating rarity by the number they are minting. If they wanted everyone to get one, they should have minted more.”
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More News at a Glance – December 17, 2010

CoinLink — Fri, 17 Dec 2010 18:47:43 +0000

‘First example’ of the 1882 Gold banknote sells with $500,000 estimate
Paul Fraser Collectibles
Limited to just 14,000, this note, appearing for sale for only the second time, is the star at Heritage. Heritage Auctions, the official auctioneer of the Florida United Numismatists (FUN) Show, will present a substantial number of rare and exceptional notes as part of its Signature Currency Auction. The sale is being held on January 6-10 in Tampa, Florida.
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Dealers Confused by New America the Beautiful Sale Rules
Numismatic News
Dealers say new rules imposed by the U.S. Mint on the sale of 5-ounce silver bullion coins are far from clear. “I think there is some question on exactly how those rules apply, and we don’t have answers to the questions,” said Michael Haynes, CEO of American Precious Metals Exchange, one of 11 companies authorized by the Mint to sell the new America the Beautiful coins. APMX has ordered 3,000 sets, the maximum allowed per distributor.
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Yoko Donates Gold Lennon Coin
Numismaster
A unique 22-karat gold version of the new John Lennon £5 coin of Alderney has been donated by Yoko Ono to Great Britain’s Alder Hey Hospital’s Imagine Appeal for auction next year to raise money. Ono is the widow of the famous Beatle songwriter/singer/musician. The coin is part of the British Royal Mint’s Great Britons series of £5 silver Alderney coins. Lennon was chosen to accompany in the series such luminaries of history as Winston Churchill by choice of the British public.
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Interview with the Central Bank of Ireland’s Coin Department Head of Marketing
Coin Update News
One of the most innovative sets of national coinage of its day (many would say they can still hold their own against some of the most innovative coinage concepts today) were the designs which came to be affectionately known as the “Barnyard” series. They are once again resurrected as Ireland issues the first of three coins in a new series of silver collector crowns. In 1926, a commission organized to decide the themes for circulation coins of the newly established Irish Free State came into being and was headed by the poet (and later Senator) W. B. Yeats.
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The 1962 Seattle World’s Fair Million Silver Dollar Exhibit
The E-Sylum
One of the many committees working on the 1962, six-month-long, Seattle World’s Fair, which would live on in the Space Needle and Monorail, was responsible for producing, promoting and selling souvenir medals for the exposition. The committee, with Northwest Historic Medals, was also charged with producing a venue for medal sales and was thus attracted to an advertisement for Behlen buildings. The committee also conceived of the display of a million silver dollars to attract medal purchasers and thus contacted Gerry Joseph, Behlen’s sales manager, to see if they might be interested in a package promotion.
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US Mint Sales: Silver Coin Products in Demand
Silver Coins Today
The United States Mint welcomed a newcomer to their America the Beautiful product portfolio. The five ounce 2010 America the Beautiful Silver Bullion Coins began with debut sales of 75,000 from Authorized Purchasers. That is 375,000 ounces of silver in a single day on their launch Friday.As for the other US Mint bullion product, demand for Silver Eagle bullion coins picked up compared to the first week of December. The .999 fine bullion Silver Eagles advanced 1,005,000 in the last seven days, which totals 1,422,000 in the first half of December. Annual sales rolled in at 34,312,500.
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More News at a Glance – December 14, 2010

CoinLink — Tue, 14 Dec 2010 18:07:44 +0000

United States Mint Uncirculated Coins Get a New Look in 2011
United States Mint
The United States Mint today announced that it is discontinuing the satin finish on numismatic uncirculated coins produced for the United States Mint Uncirculated Coin Set® and other products. Instead, beginning in 2011, uncirculated-quality coins will feature a brilliant finish. The United States Mint began using the satin finish for its uncirculated coins in 2005 to be consistent with other products in its portfolio, such as commemorative coins. The satin finish, however, highlights surface marks that inherently result from the coin-handling systems.
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The Mint coins a new phase: After 50 years, Lincoln Memorial gone from the penny
The Washington Post
You may have noticed a small change in your small change. More likely, you haven’t. “Now, when did they do that?” asked Victor Schubert, a lawyer from Racine, Wis., squinting at a freshly minted 2010 penny. “And why?” Schubert and other tourists on the steps of the Lincoln Memorial one recent afternoon were surprised to see a brand-new look to that most familiar of coins.
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The Recovery of Julian Leidman’s Stolen Inventory
The E-Sylum
Court papers filed in New York identify the son of a Diamond District jeweler as the man who allegedly bought a multi-million dollar collection of coins and currency stolen in October 2009 from a Maryland coin dealer’s van as he dined in a Montville restaurant. What the papers don’t show is who the FBI believe was responsible for the theft. A complaint filed by FBI Special Agent Daniel X. McCaffrey, Jr. details how Yan Kandinov allegedly bought the cache for $80,000 from an unidentified individual who said they had “something for him to look at.”
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Napolitano named Bowers president
Numismatic News
Bowers and Merena Auctions, a subsidiary of Spectrum Group International Inc., announced Dec. 1 that numismatic professional Chris Napolitano has joined the 27-year-old auction house as president. A collector since childhood, Napolitano decided to make numismatics his life’s career in 1989 with the founding of Summit Rare Coins, Inc., serving as president and CEO since its inception. Under Napolitano’s leadership spanning more than two decades, the company has handled in excess of $250 million in rare coins. In 2001, Napolitano co-founded American Rare Coins and Collectibles with locations in St. Paul and Minneapolis, which he helped to grow into a $20 million business.
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France Seizes Lava Treasure Coins
Numismaster
France recently seized an unannounced number of third century A.D. Roman gold coins as well as an ancient gold plate allegedly with a pedigree linking the material to the Lava Treasure, according to an Oct. 27 announcement. The Lava Treasure, consisting primarily of ancient Roman gold coins, received its name because the find was discovered accidentally by fishermen diving in the Gulf of Lava. The gulf is off the west coast of Corsica in the Mediterranean Sea. Corsica belongs to France.
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More News at a Glance – December 13, 2010

CoinLink — Mon, 13 Dec 2010 19:51:53 +0000

Coins Honoring Nation’s Oldest Military Branch Unveiled at Army/Navy Game
United States Mint
Designs for the 2011 United States Army Commemorative Coin Program were unveiled today during the annual Army/Navy football game played in Philadelphia, PA. Public Law 110-450, the “United States Army Commemorative Coin Act of 2008,” authorizes the United States Mint to mint and issue $5 gold, $1 silver and half-dollar clad coins to recognize and celebrate the founding of the United States Army in 1775.
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How Peru Became the Counterfeit-Cash Capital of the World
The E-Sylum
Back in the 1980s, Peru’s government ran the printing presses as an answer to the country’s massive economic crisis, but churning out currency only made things worse and hyperinflation topped off at 1.2 million percent by the end of the decade. The printing presses have returned, but this time it is not the government cranking out bills, and the currency coming out is not necessarily the Peruvian nuevo sol.
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Peter the Great rules Russian Coins and Currency sale with a $234,000 gold piece
Paul Fraser Collectibles
The commemorative medal marking the Battle of Riga led the way in Bonhams’ spectacular sale. Bonhams completed their sale of roughly 550 lots of rare Russian coins and currency last week with nearly 100 coming from the Tsarina collection. We felt confident in predicting that many of the best lots would shoot past their estimates given the rapidly increasing power of the Russian collectibles markets which certainly has numismatics at its head. We weren’t disappointed.
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Hobby Popularity Boosted Dime Saving
Numismaster
Perhaps it is time we take a second or even a first look at some of the lower-mintage Mercury dime dates like the 1938-D. Right now the 1938-D seems fairly stable in terms of price, but you have to think that $34 for an MS-65 and $62 for an MS-65 with full split bands is awfully inexpensive when you consider its mintage and the potential for demand for a coin that is now more than 70 years in age. The 1938-D Mercury dime had a mintage of 5,537,000. It seems unlikely that a coin with such a mintage would be overlooked, and especially overlooked for seven decades.
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Morgan dollars in high demand after silver surge
Rare Coin Market Report
Gold and silver continued their assent Dec. 6, with gold hitting a record $1,432.50 and silver reaching a 30-year high of $30.73 during trading on Dec. 7. Investors continue to be worried about the financial stability of Europe, the potential for a weak U.S. dollar, and the possibility that the Federal Reserve will expand its latest stimulus package to buy more U.S. bonds. These factors, combined with increased demand associated with the holidays, means there is a strong likelihood that bullion prices may keep increasing.
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Mint delays sale of America the Beautiful 5 Ounce Coins
Numismatic News
A flood of complaints about high prices caused the U.S. Mint to postpone the beginning of sales of the 5-ounce America the Beautiful silver bullion coins. The Mint was supposed to begin selling 165,000 of the new 3-inch diameter pieces to its Authorized Dealer Network on Dec. 6. However, before the day was finished, the Mint issued a statement saying it was not confirming any sales that day.
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