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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The Wild Ride of Numismatic Research
PCGS Blog
Numismatic research is a never-ending journey full of twists, turns, side-roads, dead-ends, and new discoveries.  Much of the fun of numismatic research is that you’re not alone: you can utilize the findings of those who have gone before or bring current experts along to help you navigate.  The following is a quick run-through of steps involved in research of the undated Templeton Reid $10. Reviewed census of the three pieces listed in Walter Breen’s Complete Encyclopedia of U.S. and Colonial Coins. Tried to find images off all three examples: the Smithsonian’s best piece is plated in Breen; the other Smithsonian piece is illustrated on PCGS CoinFacts; the third piece was missing.
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Coin Market Heat Wave
Stella
We’re selling a higher dollar volume every month in about half the coins. This has allowed us to concentrate on each customer better and the results are paying off. In 2010, we have steadily averaged over $2 million in sales EACH month. So, why are other dealers saying the market is “red hot” and “we can’t buy enough coins”, etc, etc.? I suppose it’s just good marketing. Of course it’s hard to buy great coins. It’s always hard to buy great coins. Usually if prices are too low (as they are getting these days) sellers hold on to the better coins until the prices go up. When prices go up, up, up (like they did in 2005-7) then sellers unload but uneducated buyers enter the market and overbid for coins.
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Japan’s 2,000-Yen Note Popular in Okinawa
Banknote News
The Bank of Japan began issuing the ¥2000 bill on July 19, 2000 to commemorate the Group of Eight summit in Okinawa, but this bill didn’t catch on with the general public and remains unpopular. There are around 110 million ¥2,000 notes in circulation, about 1% of all Japanese currency. Okinawans have good reasons for loving the bill; the Okinawan symbol ’Shureimon’ is printed on one side of the bill. The Shureimon Gate in Naha was built in the 16th century as the main gate to Shuri Castle. Shureimon Gate is a symbol of peace, and Okinawans say they want “to promote the spirit of peace from Okinawa” with the ¥2,000 note. Local Okinawa businesses have begun a campaign to promote use of the currency, with local banks converting ATM machines to accept them and shopping malls now giving change in ¥2,000 notes.
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Readers Pick Best 2010 U.S. Coin Designs (So Far)
MInt News Blog
A little over a week ago, I created a poll where Mint News Blog readers could vote on what they believe is the best US Mint coin design for the year so far. A total of 725 votes were cast across the eleven different coins issued during 2010, which featured a new design on at least one side of the coin. Two coins received more than 50% of the total votes, signaling two strong favorites. The third highest number of votes were cast for a medal honoring the Women Airforce Service Pilots. In the end, the 2010 Native American Dollar edged out the 2010 Lincoln Cent by a margin of 21 votes.
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All Dressed Up and Ready to Go … To the 20th Century
Numismatic News
The U.S. Mint is all dressed up and ready to go. The problem is it is ready to go to a 20th century destination. A decade into the 21st century we have to ask ourselves where it should be heading to be relevant to our futures. The Mint as it currently exists was organized, and its productive capacity built to meet the astronomical coin demands ushered in by the age of vending machines and the replacement of silver coins with copper-nickel clad coins. After the massive coin shortage of the 1960s, no Mint official ever wanted to be caught short again.
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The World’s First Coin Auction?
PCGS
A number of years ago, I came across into a tiny booklet in a bookstore. Opening the cover, I discovered it was a coin auction catalog… from 1786! I don’t know how long coin auctions have been taking place, but this surely is among the first auctions dedicated only to coins. The auction was the property of the late Sir Charles Frederick, Knight of the Bath, and was sold by Mr. Gerard at his House in Litchfield Street, St. Anne’s Soho. It consisted of Greek, Roman, Saxon, English, Anglo-Gallic and other coins and medals. While it was a four-day sale, held from May 17-20, it consisted only of 365 lots, sold at a pace of roughly 90 per day. As one would expect, the sale was made up almost totally of ancient and British coins.
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