Coin News for June 16, 2010
More On the Bishop’s Wood Hoard of Roman Coins
The E-Sylum
The lots drew worldwide interest amongst the ancient numismatic community prior to the auction as the expertly cleaned and preserved coins had remained out of circulation and in the family of the landowner since their discovery in 1895. Serious pre-sale interest came mainly (and encouragingly) from UK based dealers and collectors but also from some important UK institutions. Bidding was frenzied and busy, both in the room and on the book, but in the end the lots were all won by the same bidder. Baldwin’s are very happy to report that this part of the hoard remains intact. In total the 11 lots (lots 1152-1162) achieved £46,964, well over pre-sale estimate. Baldwin’s Ancient expert Paul Hill commented after the auction ‘the sale of this hoard was an unprecedented success, it sold well beyond any of our expectations and the vendor is absolutely delighted with the result.’
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American Delegation Holds Reception at FIDEM 2010
Numismaster
Participants from 22 countries registered today for the 31st FIDEM conference which is being held in Tampere, Finland from Wednesday to Saturday. Participants were given brown canvas bags containing a hard cover conference catalog with color photographs of one medal from each sculptor exhibiting. For the first time, a DVD is included with a photograph of every medal on exhibit. A program, listing of participants and the FIDEM 2010 conference medal is also placed in the bag. The FIDEM 2010 conference medal is designed by Assi Madekivi, cast bronze, 2009. It has the image of a nude male in motion with his arms stretched out reaching the edges of the medal on the obverse with the inscription,” FIDEM XXX1” around the border. The reverse features an image of a familiar Tampere scene with the words, “Tampere, 2001” around the border.
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How Does CAC Fit Into Today’s Coin Market?
Coin Dealer Newsletter
Many dealers thought PCGS and NGC solved the grading problem nearly 25 years ago. Others still want nothing to do with either and deal exclusively in raw coins. Still others have dealt in certified coins for many years, but have become concerned about “gradeflation.” Then, in 2007, CAC was formed. CAC, which stands for Certified Acceptance Corporation, was founded by John Albanese, a seasoned coin dealer who was also involved in the start-ups of both Professional Coin Grading Service and Numismatic Guaranty Corporation in 1986 – unique qualifications, for sure. CAC is a private business that is owned by 20 to 25 numismatic shareholders with Albanese holding all the voting shares. Its mission is to screen coins graded by PCGS and NGC to identify those that are, at a minimum, solid for the grade, in CAC’s opinion. Albanese is no longer affiliated with either NGC or PCGS. He was a founding partner in the California Gold Marketing Group which purchased the SS Central America treasure for a price that exceeded $100 million. He was also chief marketing strategist for the coins recovered from the SS Republic shipwreck. Among other endeavors of note, he founded Numismatic Consumer Alliance in 2005 to assist consumers in getting refunds from unscrupulous coin dealers.
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Here and There in the Marketplace
Stack’s
Here in the United States, gold remains a focal point for many people seeking diversity in their portfolios. Indeed, a little pile of gold coins is certainly “warm and fuzzy” in terms of the emotional comfort it offers! And, look at that 1884-CC Morgan dollar from the Carson City Mint. Not rare, not expensive, but incredibly historical and romantic—and, unless I miss my guess (which doesn’t happen often) it will be worth more ten years hence than now. Given a proverbial soapbox, I could discuss the 1884-CC for at least a half hour, perhaps even an hour, without running out of information. As to the “owl” I am much less qualified, but certainly I could stand up for, say, five minutes. In the marketplace I am not aware of even the slighted amount of “distress” selling of coins, tokens, medals, and paper money. One reason for that is the solid foundation upon which most numismatic holdings have been built.
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Franklin Pierce Coin and Medal Set Available June 24
U.S. Mint
Sales of the United States Mint Presidential $1 Coin & First Spouse Medal Set (Franklin Pierce) will begin at noon Eastern Time (ET) on June 24, 2010. The set, priced at $11.95, includes an uncirculated Franklin Pierce Presidential $1 Coin and a bronze medal bearing the likeness of Jane Pierce that is featured on the First Spouse Gold Coin. The coin and medal are encased in a durable plastic card enhanced with beautiful representations of the President’s and first spouse’s portraits, with issuance information on the back. Orders will be accepted at the United States Mint’s Web site, http://www.usmint.gov/catalog, or at the toll-free number, 1-800-USA-MINT (872-6468). Hearing- and speech-impaired customers with TTY equipment may place orders at 1-888-321-MINT (6468). A $4.95 shipping and handling charge will be added to all domestic orders.
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NGC Certifies Rare 1795 Reeded Edge Cent
Numismatic Guaranty Corporation
Among early United States cents one of the rarest and most mysterious is Dr. William H. Sheldon’s variety number 79 having a reeded edge, an example of which has just been certified by Numismatic Guaranty Corporation. Only eight pieces are confirmed to exist, and this one has been off the market for some 30 years. Its last public appearance was in a 1977 auction by the now-defunct Numismatic and Antiquarian Service Corporation of America (NASCA). NGC has graded and encapsulated this remarkable coin as having Fine Details with corrosion. Aside from its rarity, S-79 is an intriguing variety on several counts. It possesses a reeded edge, the only large cent of any type to have such an edge device. Its obverse is unique to this die marriage, though it is similar in most respects to those of other 1795 cents. Where things really get odd, however, is that this cent variety was coined using a reverse die shared only with several varieties of 1796-dated cents.
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