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Category: ANA Money Show

Stack’s Pens Three Year Deal with the ANA to be Official Coin Show Auctioneer

Stack’s will be the official auctioneer for the 2011, 2012 and 2013 American Numismatic Association World’s Fair of Money, ANA Executive Director Larry Shepherd has announced.

“I’m very pleased to have received multiple strong bids for these prestigious auctions,” Shepherd said. “This reflects a renewed confidence auction companies have that the ANA can host high-quality auctions with exceptional potential.”

Shepherd was also pleased that Stack’s bid included a commitment to support the Association’s educational programs and seminars at the World’s Fair of Money and in New York City, where Stack’s is headquartered. “In a very competitive bidding process, Stack’s commitment to ANA educational programs was an important consideration,” Shepherd said.

“We believe strongly in the educational mission of the ANA,” said Stack’s President Christine Karstedt. “This is a great opportunity for Stack’s to deliver first-rate auctions in association with the hobby’s premier membership organization. We look forward to holding extraordinary auctions in Chicago and Philadelphia.”

Live auctions will be held during the 2011 Chicago World’s Fair of Money, Aug. 16-20; the 2012 Philadelphia show, Aug. 7-11; and the 2013 Chicago show, Aug. 13-17.

Stack’s, founded in 1935 by Joseph B. and Morton Stack, is holding its 75th Anniversary Auction in Baltimore this November. No other numismatic auction company has ever had such an anniversary. For more information, visit www.stacks.com.

Video: Boston ANA Coin Market Perspectives

The recently concluded Boston ANA World’s Fair of Money provided CoinTelevision Producer David Lisot ample opportunity to discuss the current market conditions with a variety of dealers and numismatic personalities.

Over the next few days CoinLink will present several of these short interviews along with some of the National Mint press conferences which highlight new coins that are going to be releases this coming year.

Our first installment presents Ed Reiter, well known numismatic writer and current editor of Coinage Magazine.

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Ed recently retired after 50 years as a newspaper writer and copy editor, including nearly a decade as coin columnist for the Sunday New York Times. He remains senior editor of COINage, a monthly hobby magazine where he have held this post, working from home as a sideline to his newspaper work, for more than 23 years.

ED also handle free-lance writing and editing projects, mostly related to coin collecting but sometimes on unrelated subjects. He is the author of “The New York Times Guide to Coin Collecting,” a book published by St. Martin’s Press in 2002. Since 1990, he have been executive director of the Numismatic Literary Guild, a professional organization made up of several hundred writers, editors and others around the world who help disseminate information about the hobby.

Official ANA World’s Fair Of Money Starts Today in Boston Featuring Amazing and Historically Significant Numismatic Exhibits

More than 1,100 of the nation’s best coin dealers with the best inventory of coins, paper money, medals, tokens and other numismatic items will gather in Boston August 10-14 at the Hynes Convention Center for the largest coin show in the world.

Sponsored by the nonprofit American Numismatic Association, the show will feature museum-quality exhibits from the Smithsonian Institution, the ANA Edward C. Rochette Money Museum and private collectors. As many as 20 mints from around the world will give visitors an opportunity to collect coins from five continents, and a number of family activities and educational programs make this an attractive event for anyone with an interest in history and money.

The Bebee Collection of United States Paper Money. A spectacular and comprehensive view of United States paper money. The 904 notes in the complete collection include a remarkable series of high-grade large-size national bank notes from virtually every state and territory. A wide range of the premier specimens will be on display in Boston.

The 1874 Bickford $10 Patterns:From the Collection of Bob R. Simpson. This exhibit features a complete set of 1874 Bickford patterns struck at the Philadelphia Mint as part of a proposed plan for an international coinage. The exhibit includes seven Bickford patterns comprising Simpson’s signature set, as well as two duplicates to allow for side-by-side viewing of obverse and reverse.

The Smithsonian Institution’s “Good as Gold: exhibit America’s Double Eagles” The exhibit tells the story of the $20 gold coin, the largest gold coin to circulate in the United States. Rarities on display include 20 coins from the Smithsonian Institution’s National Numismatic Collection, including the first (1849 pattern) and last (1933) double eagles ever produced as well as a 1907 Saint-Gaudens ultra high relief pattern that President Theodore Roosevelt gave his daughter Ethel as a Christmas gift in 1907.

The Ship of Gold exhibit displaying Gold Rush-era sunken treasure from the 1857 shipwreck of the SS Central America will be in Boston courtesy of Monaco Rare Coins. Highlights include a Kellogg & Humbert ingot – the largest surviving gold ingot of the California Gold Rush, 13 octagonal $50 gold pieces produced by the U. S. Assay Office of San Francisco and remains of a wooden cargo box still containing approximately 110 double eagles.

Mexico, 1810 & 1910: Coins of the War of Independence & the Mexican Revolution An exhibit that celebrates the 200th anniversary of the beginning of the Mexican War for Independence and the 100th anniversary of the Mexican Revolution. This marks the first time since the early 1970s that any part of Banco de México’s extensive historical collection has been displayed in the United States.

Coin Rarities, Paul Revere Silver & Rare Broadside of the Declaration of Independence. From the collection of Brian Hendelson, the first-ever display of a 1861 Philadelphia Mint Paquet reverse gold double eagle and 1921 Proof Roman Finish Saint-Gaudens double eagle. Each coin is one of two known specimens, and each is the finer-known specimen. The Paquet $20 was once owned by Egypt’s King Farouk and Ambassador and Mrs. R. Henry Norweb, while the 1921 proof was not known to exist until 2006. (more…)

Cardinal Collection of US Large Cents On Display in Boston

Bowers and Merena Sponsor display of this Multi-Million dollar collection ranked the Finest Registry Set

The number one-ranked collection of United States large cents in both the PGCS and NGC Set Registry listings will be publicly displayed for the first time in Boston, August 10 – 13, 2010, at the American Numismatic Association World’s Fair of Money. The historic coins from the Cardinal Collection Educational Foundation include some of the finest known examples of large cents struck from 1793 to 1857.

The foundation’s exhibit is co-sponsored by Bowers and Merena Auctions (www.BowersAndMerena.com) and Collateral Finance Corporation (www.cfccoinloans.com), and will be displayed at the Bowers and Merena booth, #1017, during the five-day show.

“This is a truly amazing collection, valued at millions of dollars. There are 77 large cents and each is among the very finest known for its respective date and type. Many of them are simply the finest known, period,” said Greg Roberts, CEO of Bowers and Merena.

This 1793 Chain Cent (S-2), graded PCGS MS65BN, is one of the highlights of the multi-million dollar Cardinal Collection Educational Foundation large cents collection that will be displayed August 10 – 13, 2010 by Bowers and Merena Auctions and Collateral Finance Corporation at the ANA World’s Fair of Money in Boston.  (Photo by PCGS)

While supplies last, visitors to the exhibit can receive a free, 40-page illustrated booklet published by the foundation, “Portraits of Liberty,” that describes the history of U.S. large cents.

Highlights of the exhibit include:

1793 Chain Cent (S-2) graded PCGS MS65BN that set a world’s record in 2005 as the most valuable U.S. cent;

1793 Wreath Cent, PCGS MS69BN, the single highest-graded 18th century U.S. coin of any date of denomination;

1794 Liberty Cap “Head of 1793” Cent, PCGS MS64BN, described by Logies as “the single finest representative work of early Mint engraver, Joseph Wright;”

1803 Draped Bust Cent, PCGS MS66RB, acclaimed by the Early American Coppers society as tied for the finest known Draped Bust cent of any date or variety;

the record-setting 1842 Braided Hair Cent from the Naftzger Collection, PCGS MS65RD, widely acknowledged as the finest existing “Petite Head” type;

and another record-setting coin from the Naftzger Collection, an 1852 Braided Hair Cent, graded PCGS MS65RD, and acknowledged as the finest existing cent from its era.

“The Cardinal Collection Educational Foundation is a non-profit educational organization that focuses on the study and publication of information about early coinage of the United States of America. The foundation is delighted at the opportunity for thousands of people to see these superb-quality, early American cents in person in Boston with the valued assistance of Bowers and Merena and Collateral Finance Corporation,” said Martin Logies, a director of the Sunnyvale, California-based foundation. (more…)

Numismatic Theatre Schedule Set for ANA Coin Show in Boston

Numismatic Theatre, a popular part of the American Numismatic Association’s convention education programs, has been finalized for the 2010 ANA World’s Fair of Money, Aug. 10-14 in Boston. Numismatic Theatre consists of 30-40 minute presentations given by ANA members on a wide range of topics. Presentations will be held Aug. 11 and Aug. 13-14 in Room 209 of the Hynes Convention Center.

A highlight of the presentations will be “The Development and Use of the Screw Press for Coin Production,” a two-hour panel discussion Aug. 13 from 3-5 p.m. Led by dealer and early U.S. coinage expert Brad Karoleff, the panel will discuss different aspects of early minting technology in the United States. Panelists include:

* John Dannreuther, author and former ANA Numismatist of the Year
* Dr. Richard Doty, curator, Smithsonian Institution National Numismatic Collection
* Bill Eckberg, noted half cent collector and researcher
* R. W. Julian, prolific numismatic writer and researcher
* Douglas Mudd, curator, ANA Edward C. Rochette Money Museum
* Craig Sholley, author famous for research into the U.S. Mint archives

Other highlights include “Money as a Social Reflection” with David Liu, 2010 ANA Harry W. Bass Jr. Numismatic Intern (Aug. 11, 9 a.m.); and “Engraver & Patriot Paul Revere: The Man & the Medal” with Jamie Franki, professor of art at the University of North Carolina and designer of the official ANA 119th anniversary convention medal (Aug. 14, 4 p.m.).

Below is a complete list of Numismatic Theatre presentations:

Wednesday, August 11

9 a.m. – “Money as a Social Reflection,” presented by David Liu

10 a.m. – “Henry Morgan: Brutal Pirate & Honored Statesman,” presented by Tom Sebring

11 a.m. – “The Liberty Paper Mill: A Cradle of the American Revolution,” presented by Peter Hopkins

12 p.m. – “Coin Grading for Beginners,” presented by William Robins

1 p.m. – “The Story of One 1786 M 5-3-B-2,” presented by Robert Moffatt

2 p.m. – “To Arms! A History of the American Revolution as Seen on Obsolete Bank Notes,” presented by C. John Ferreri

3 p.m. – “The Coin Finds from the Antioch Excavations – Revisited,” presented by Alan Stahl

4 p.m. – “Curious Currency of the World,” presented by Robert D. Leonard (more…)

Classic Coin to Display Two Ultra Rare Double Eagles in Boston Valued at $18 Million

“Coins Worthy of a King” the 1861-P Paquet and 1921 Proof Double Eagles in Historic ANA Exhibit

An $18 million display of two rare Double Eagles accompanied by Boston-related early Americana will be one of the exhibit highlights in the Museum Showcase area at the American Numismatic Association World’s Fair of Money convention in Boston, August 10 – 14, 2010.

1861-P Paquet $20 NGC MS67:  Formerly in the famous Farouk and Norweb collections, this 1861 Philadelphia Mint "Paquet Reverse" gold $20, graded NGC MS67, will be displayed at the ANA World's Fair of Money in Boston courtesy of Brian Hendelson of Classic Coin Co.  (Photo courtesy of Numismatic Guaranty Corporation.)The coins in this first-ever display are the finer each of the two known 1861 Philadelphia Mint “Paquet Reverse” gold $20, graded NGC MS67, and 1921 Proof Roman Finish Saint-Gaudens Double Eagle, graded NGC SP64.

[PHOTO CAPTION: 1861-P Paquet $20 NGC MS67 – Formerly in the famous Farouk and Norweb collections, this 1861 Philadelphia Mint “Paquet Reverse” gold $20, graded NGC MS67, will be displayed at the ANA World’s Fair of Money in Boston courtesy of Brian Hendelson of Classic Coin Co. (Photo courtesy of Numismatic Guaranty Corporation.)]

Insured for $8 million each, they are being provided for the ANA exhibit by Brian Hendelson, President of Classic Coin Co. of Bridgewater, New Jersey.

“This will be the first time both coins have ever been displayed at the same time and location. It will be a once-in-a-lifetime opportunity for thousands of visitors to see them together up close,” he said.

In addition to these two coins, other historic items in the display from Hendelson’s own collection include one of the few known surviving broadsides of the Declaration of Independence printed in Boston circa July 17, 1776 by printers Gill, Powars and Willis; seven silver spoons crafted by legendary Boston patriot Paul Revere; and a silver teapot and knee buckles made by fellow Colonial era Boston silversmith, Jacob Hurd, that were acquired by a New England family in 1785 and passed down to their heirs for over two centuries.

In descriptive text prepared for the exhibit, ANA Museum Curator Douglas Mudd headlines the Paquet design Double Eagle as “a coin fit for a king.” One of its former owners was the notorious King Farouk of Egypt who amassed a fabled coin collection before he was deposed in 1952. It also was in the famous coin collection of Ambassador and Mrs. R. Henry Norweb.

Nearly three million Double Eagles were struck in 1861 at the Philadelphia Mint, but today only two are known with a slightly modified design on the reverse made by Assistant Mint Engraver, Anthony Paquet, who also engraved the first Congressional Medal of Merit. His lettering on the $20 coin is taller and more slender than the design originally created in 1857 by Chief Engraver James Longacre. (more…)

SS Central America Shipwreck “Ship of Gold” Exhibit Comes to ANA World’s Fair of Money in Boston

Exhibit Includes Treasures from 1857 SS Central America Shipwreck

The incredible “Ship of Gold” exhibit, showcasing California Gold Rush-era sunken treasure recovered from the 1857 shipwreck of the SS Central America, will make port in Boston at the American Numismatic Association’s World’s Fair of Money, August 10-14 at the Hynes Convention Center. The exhibit is courtesy of Monaco Rare Coins of Newport Beach, Calif.

The SS Central America was recovered in 1988 from nearly 8,000 feet below the surface of the Atlantic Ocean. The ship sank in a hurricane in September 1857 while carrying California gold from Panama to New York City.

“There will be examples of historic assayers’ ingots as well as San Francisco Mint and California territorial gold coins with a combined value of over $10 million,” said Adam Crum, vice president of Monaco. “One of the highlights is a huge Kellogg & Humbert ingot. Weighing just over 55 troy pounds, it is the largest surviving gold ingot of the California Gold Rush.”

The exhibit also includes one of the 13 recovered octagonal $50 gold pieces produced by the United States Assay Office of San Francisco, and the remains of a wooden cargo box that still contains approximately 110 Double Eagles as they were found on the ocean floor. Many appear to be 1857-S $20 gold pieces, apparently freshly struck at the San Francisco Mint when they were placed in the container for shipping.

Visitors will see the front pages of three 1857 newspapers that published stories about the shipwreck, the ordeal of survivors and the devastating economic effects created by the loss of the gold. Robert Evans, the chief scientist on the 1980s mission by the Columbus-America Discovery Group that located and recovered the magnificent sunken treasure, will be in Boston to meet visitors and discuss the SS Central America, her cargo, crew and passengers.

The Ship of Gold display was first publicly presented in February 2000. Over the years it has been seen by more than one million people in exhibitions at several venues and cities across the country.

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[Adam Crum of Monaco Rare Coins Gives a  Tour of the Exhibit – Originally Filmed on Long Beach
Video Courtesy of CoinTelevision.com]

The ANA World’s Fair of Money is the nation’s premiere money show. Show hours are 1-5:30 p.m. August 10, and 9:30 a.m.-5:30 p.m. August 11-14. Dealer set-up is from 8 a.m.-
1 p.m. Tuesday, August 10. Admission is $6 for adults, and free for ANA members and children 12 and under. For more information on all of the show highlights, call 719-482-9857 or visit www.worldsfairofmoney.com.

Simpson Collection of Bickford $10 Pattern Coins to be displayed at Boston ANA

A complete set of 1874 Bickford $10 Pattern coins will be exhibited at the American Numismatic Associations Boston Money Show August 11-14th. 

The set is part of perhaps the most complete collection of US pattern coins ever assembled and include all seven of the  variations attributed according to Judd numbers (US Pattern Coins, Experimental & Trial Pieces by J. Hewitt Judd, Edited by Q. David Bowers), include Judd-1373, one of just two known examples struck in gold.

Texan Bob Simpson is the ultimate numismatic connoisseur, desiring only those coins that meet his exacting standards. He knows what he wants, and nothing less will do. Facilitating his efforts is his longtime numismatic consultant, Laura Sperber of Legend Numismatics. The old saying, “Know your coins or know your dealer” is particularly apt, as Mr. Simpson knows both, and this relationship has paid off with an epic collection of coins that compares favorably with the great named collections of the past.

Mr. Simpson’s premier passion is United States pattern and trial coins, and his collection of these is unparalleled. Comprising most of the entries found in Dr. J. Hewitt Judd’s standard reference work, United States Pattern Coins, now in its 10th edition, the Simpson Collection is the greatest assemblage of such coins since Judd’s own collection was dispersed some 50 years ago.

The coins in the collection include the following:

The Bickford pattern ten dollar gold pieces, Judd-1373, were not known to numismatists of the 19th century. The design was struck in copper, aluminum, and nickel compositions, as well as gold, with both plain and reeded edges. Examples of the design in copper appeared in various auction catalogs of the period, but even the greatest pattern collections of the era did not include an example of Judd-1373. Robert Coulton Davis published the first important work on U.S. pattern coins in the Coin Collector’s Journal in 1885, where he described both plain and reeded edge varieties of the design in copper, but he was unaware of the strikings in other metals. (more…)

Video: Interview with Larry Shepherd, ANA Executive Director on “Why Chicago” For Future Summer ANA Conventions

The American Numismatic Association Board of Governors, on March 27, approved a recommendation from Executive Director Larry Shepherd to name Chicago as the site of the summer ANA World’s Fair of Money® in 2013, 2014 and 2015, and to launch a fall show in 2011.

Shepherd stressed the importance of branding Chicago as the home of the summer ANA World’s Fair of Money, noting the success FUN has had branding Orlando as its home, and Whitman establishing Baltimore as a show destination.

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“By selecting a single good location, the ANA will brand its summer convention as an annual ‘coin show destination’ that all collectors and dealers will strive to attend. The dates will be tightly fixed, the location well known and easily accessible at a reasonable cost. But most importantly, it will give us an opportunity to expand our show and set it apart from all others.”

Shepherd said the convention hall space available at the Donald E. Stephens Convention Center (formerly the Rosemont Convention Center) in Chicago allows the ANA to increase bourse space, create more room for museum-quality exhibits, provide free space for clubs and professional organizations to meet, and provide more table options to attract new dealers and first-time buyer tables.

By encouraging specialty numismatic organizations to gather for the World’s Fair of Money, those organizations could make the summer ANA the destination for all of their annual meetings, symposiums and educational programs. Specialty numismatic organizations would be encouraged to offer educational content to all ANA members, with the ANA coordinating its presentations with those of specialty organizations, thus making it possible to further expand educational offerings. In addition, the time slot between the “Official Pre-Show” and the World’s Fair of Money could be used to add educational classes and tie-ins to Summer Seminar.
(more…)

2010 ANA Medal Features Paul Revere

The official medal for the American Numismatic Association’s 119th Anniversary Convention, August 10-14 in Boston, is available for purchase. Designed by Jamie Franki, former master designer in the United States Mint’s Artistic Infusion Program, the medal celebrates one of Boston’s most famous citizens, Paul Revere.

The obverse depicts the engraver and patriot’s storied “Midnight Ride,” while the reverse calls to mind designs he engraved for a 2-shilling issue of colonial currency.

Franki began the design process by consulting Patrick M. Leehey, research director of the Paul Revere House and Museum in Boston.

“He suggested excellent reading material and also gave me a good idea of what Revere wore on his ride,” said Franki. “I employed the assistance of a seamstress who specializes in historic garments. She created a period-authentic outfit based on the direction I received from the Revere House. A friend let me borrow a horse for a photo shoot. I spent an afternoon at her farm in Concord (N.C.) dressed in colonial garb and riding the horse.”

From the photos, Franki created composites, sketching in Revere’s face based on portraits by various artists. He completed the design with a replica of Revere’s signature, taken from his handwritten account of the ride to Concord.

The artist relied on Clarence S. Brigham’s reference Paul Revere’s Engravings for the reverse design, examining reproductions of the colonial currency engraved by Revere to adapt his “rising sun” and “pine tree” devices from a 2-shilling note. This design anchors the legend for the ANA 119th annual convention. Two sets of initials attribute the design of the medal to Paul Revere and Franki. A border of 119 beads and a rim completes the composition.

Jamie Franki is a tenured associate professor at the University of North Carolina at Charlotte in the Department of Art and Art History. He received his MFA from Syracuse University. In 2005, his American Bison Nickel reverse design was selected for a six-month minting. This nickel was awarded a Coin of the Year Award in 2005. In 2006, his Jefferson 1800 nickel obverse design was featured on America’s historic forward-facing circulating coin. He has also designed medals for the 2007 ANA National Money Show in Charlotte and 2008 World’s Fair of Money in Baltimore.

“I hope my efforts were worthy of such a weighty task,” Franki said. “It was truly a pleasure to research a great American hero and to celebrate his patriotism and artistry.” (more…)

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Paper Money Guaranty to Grade and Encapsulate ANA Bebee Collection

Project Enables ANA to Showcase Collection at Boston Convention

The American Numismatic Association has contracted with its official paper money grader, Paper Money Guaranty, LLC to encapsulate, grade, appraise and provide a complete certification report for the ANA Bebee Collection of Paper Money.

The collection, donated to the ANA Edward C. Rochette Money Museum by Aubrey and Adeline Bebee in 1987, is one of most comprehensive collections of U.S. paper money ever assembled. It features 904 notes including national bank notes from virtually every state and territory and perhaps the finest collection of large-sized notes outside of the Smithsonian Institution.

“This agreement with PMG makes it possible for the ANA to share this fabulous collection with numismatists and paper money aficionados who, otherwise, might never have an opportunity to see the spectacular rarities collected by Aubrey and Adeline Bebee,” said ANA Executive Director Larry Shepherd. “The Bebees entrusted the ANA to protect and preserve their life’s work – but we also know that they hoped this special collection could be shared with the numismatic community. It’s a great feeling to know that we’ll now be able to expand our use of these notes for educational purposes, share them with the numismatic community, and preserve them for future generations.”

“This is such a special collection,” said Glen Jorde, manager of PMG, which along with NGC and NCS serve as the ANA’s official grading and conservation services. “So many of the Bebee specimens are either unique or the finest we’ve ever seen. The national bank note collection, with nearly every state and territory represented, blew me away. And the collection of large-sized U.S. notes is simply one of the finest anywhere outside of the Smithsonian.”

The Bebee collection, displayed on the ANA website , will be encapsulated in time for its inaugural display at the summer ANA World’s Fair of Money in Boston, August 10-14, at the Hynes Convention Center.

Beginning this month, PMG will accurately and safely grade and encapsulate each note into a holder designed for long-term protection. Three PMG graders will examine each of the notes to confirm authenticity, attribution and to render an opinion on its condition. Once graded, each note will be encapsulated along with a certification label. The information will then be recorded in PMG’s data management system and provided to the ANA. The project is scheduled for completion by June 11. (more…)

ANA Board Names Chicago as the site of the summer ANA World’s Fair of Money® in 2013, 2014 and 2015

Board Also Approves Fall Show and Spring 2012 Location

The American Numismatic Association Board of Governors, on March 27, approved a recommendation from Executive Director Larry Shepherd to name Chicago as the site of the summer ANA World’s Fair of Money® in 2013, 2014 and 2015, and to launch a fall show in 2011.

A third annual ANA convention will be scheduled between late September and mid-October, and will rotate among major cities like Pittsburgh, Boston and Denver. The ANA will continue to hold annual spring and summer shows.

The Board named Denver as the site of the 2012 spring ANA National Money Show™, scheduled for May to avoid Colorado’s unpredictable early spring weather.

“Successful conventions and auction contracts are critical to our future,” ANA Executive Director Larry Shepherd said. “We can now move immediately to ‘brand’ Chicago as an ANA city.”

Shepherd stressed the importance of branding Chicago as the home of the summer ANA World’s Fair of Money, noting the success FUN has had branding Orlando as its home, and Whitman establishing Baltimore as a show destination.

“By selecting a single good location, the ANA will brand its summer convention as an annual ‘coin show destination’ that all collectors and dealers will strive to attend. The dates will be tightly fixed, the location well known and easily accessible at a reasonable cost. But most importantly, it will give us an opportunity to expand our show and set it apart from all others.”

Shepherd said the convention hall space available at the Donald E. Stephens Convention Center (formerly the Rosemont Convention Center) in Chicago allows the ANA to increase bourse space, create more room for museum-quality exhibits, provide free space for clubs and professional organizations to meet, and provide more table options to attract new dealers and first-time buyer tables. (more…)

Industry Leaders Comment on New PCGS Secure + Coin Grading Announcement

David Lisot, Executive Producer of Coin Television has put together a montage of comments from industry leaders following the PCGS announcement of its New Secure + coin grading service

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The PCGS Secure Plus process uses laser scanning to help detect coins that have been artificially enhanced since their last certification, combat “gradeflation” and excessive resubmissions of the same coins, and can also be used to help identify recovered stolen coins. Additionally, PCGS graders can now designate deserving, superior-quality coins as “Plus” within their respective grades, an important distinction when there are big differences in value between one grade point and the next.


The following industry professionals are included in this video as follows:

Video used with permission and courtesy of CoinTelevision.com and CoinVideo.com.

1804 Eagles from Harry W. Bass Jr. Collection on Display at Fort Worth

Two of the finest-known gold 1804 eagles have been added to the Museum Showcase at the 2010 ANA National Money Show™ in Fort Worth. The coins are part of the renowned Harry W. Bass Jr. Collection of American gold coins, and are on display at the ANA’s Edward C. Rochette Money Museum in Colorado Springs.

The Mint began producing gold eagles ($10 coins) in 1795. Production of the coins ceased in 1804 due to a shortage of gold and a perceived lack of need for the denomination. The 1804 eagle thus became famous for being the last coin for the type, and the last eagle struck for circulation for over thirty years. The estimated number of survivors, including the one on display in Fort Worth, is thought to be 80-100 pieces, all from one die pair, of which a considerable number have been damaged.

A twist was added to the story in between 1834 and 1835, when restrikes of 1804 gold eagles and silver dollars were minted by special order of President Andrew Jackson as diplomatic gifts to a king, two emperors and a sultan. Since the last time that silver dollars or gold eagles had been produced was in 1804, the Mint created new dies for the coins and struck them as proofs. There are four known 1804 proof eagle restrikes, including the one on display in Fort Worth; these coins have been nicknamed the “King of Eagles.”

The ANA National Money Show is one of the premier coin shows in the country, and features more than 500 ANA-member dealers; a Museum Showcase with numismatic rarities from the Smithsonian Institution, ANA Money Museum and private collections; a wide array of educational programs; fascinating exhibits created by ANA members; and a $1 billion display by the Bureau of Engraving and Printing. For more information, visit www.nationalmoneyshow.com or call 719-482-9857.

The show is at the Fort Worth Convention Center and is open to the public from 9:30 a.m. to 5:30 p.m. Thursday through Saturday. Admission is $6 daily and free for ANA members and children 12 and under.
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Legend Market Report: The 2009 Los Angeles ANA Coin Show

THE PRE ANA SHOW

There was a private (invited dealers only) Pre ANA Show held in Beverly Hills. It consisted of about 30 major dealers or their representatives. The show was VERY strong. From set up until the guards asked people to leave Sunday, activity seemed to be non stop. Since it was a smaller venue with less people than a typical ‘pre’ show, everyone in the room had a spirit of doing business with each other (something we used to see when the services held the “trade and grades”). There definitely was a strong and positive “buzz” in the room that had everyone psyched for the upcoming ANA show.

Thus, it was easy to realize premium prices at the pre show. One well known major buyer attended solely to purchase. We know for a fact, this buyer spent $2,000,000.00 there and then left for vacation skipping the ANA Show completely. ALL of the coins he purchased were sold back home. Another major buyer who was at the show also was extremely aggressive and probably spent close to the same amount. The important thing to note-is that the majority of these coins are gone from the market-they were not to be seen floating around ANA or in different holders later.

THE PRE AUCTIONS

Stacks and Heritage each held sales during the pre show. It did not matter who was holding an auction so long as they had fresh, original, and really rare coins for sale. With a severe lack of supply, any coin that fit these categories brought exceptionally strong money.

Stacks had no major collection. So they had mixed results. Still on selected coins (even retreads) that were rare and decent, many people found themselves being out bid! Our major purchase at the sale was the copper J-84 for $356,500.00. The majority of coins we bid on, we surprisingly lost!

Heritage had a few pockets of fresh coins along with the Louis Bassano Commem Collection. We did sell Lou a few coins and were thrilled his coins sold for crazy money.

As always, we were totally frustrated at the Heritage Sale. They continuously realize remarkable prices. One coin we wanted badly was the $2.5 1864 NGC AU53. Any student of $2.5’s knows these are rarer than 54S’s (we weren’t close on our bid on the 54S either). We left a what we thought was a stupid high book bid of $29,900.00 (Platinum Night also happened to be the night we decided to fly to Giants Stadium and see a great AC/DC concert). Sure enough, someone outbid us at $32,200.00 and got the coin. There was no price guide even close to reality for the date-still not many coins bring $30,000.00 in AU! Besides being jealous of the new owner of that coin, we were blown away on 75% of the bids we had left that night. At least we got to see one heck of a concert (the AC/DC guys are in their upper 50’s, early 60’s and may not tour again).
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The ANA Coin Shows Are Not What They Used To Be – Commentary

Hot Topics from Legend Numismatics

Location, location, location-even a child knows thats the first rule to any good real estate transaction. Why didn’t the ANA think about this when they booked this years show? In my very strong opinion, the poor-make that pathetic location of the ANA show was one of the top reasons this years show has the most dismal attandence I have ever seen my 30+ years of attending them. Also, it was an illusion as far as how many dealers actually set up (we seemed to have bigger tables). Plus, there was no “buzz” of excitement. It seemed like a clumsy commercial show.

You’d think LA would be glamourous and safe. Not for coins. They held it in a city where just about EVERY major coin dealer had been specifically targeted and robbed in the past year at their stores or offices. It was even more scarey when the host hotels were NOT within walking distance and were definately NOT of any quality. When you’ve been on the bourse for 12 hours, who wants to crowd into a bus or have a long sweaty walk back to a second rate hotel? We were so disgusted the first night at our hotel (I freaked out big time), we checked out and stayed in the Tower (a nice reasonably priced boutique) Hotel in Beverly Hills. The commute was an easy 8 miles with little traffic each day. Plus we did not get clipped the $40.00 a day in parking fees the hotels charged.

We did not see many of our local customers. They simply did not want to come downtown. They prefered to wait for the next Long Beach Show in 30 days.

Attendance at this show was the lowest we had ever seen. The show was NOT worthy of being a five day event. We do NOT blame the economy. Collectors are a hardy breed who will still travel to just to be at a major show and feel the”buzz”. Even in a weaker market, look how strong FUN is every year. Part of the reason, everyone knows where it will be and about when. Its time for the ANA to rethink their strategy of moving from city to city each year and setting up in poor locations that have excessive costs. Comic Con has its show every year in San Diego. That show has only grown to a national media event with over 80,000 attendees, and its clearly a “must attend” yearly event.

Its time for the ANA to reinvent itself from a sleepy back room pamper the board group to a real organization that does something for all collectors, dealers, and the shows it promotes .
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Coin Collectors to Gather in LA for Largest Coin Show of the Year

For five days starting on August 5th, Los Angeles will be the center of the numismatic world. The American Numismatic Association’s  annual World’s Fair of Money Convention is considered by many to be the greatest coin show on earth.

Over 1,100 dealers will be attending, maning booths to buy, sell and trade literally hundreds of millions of dollars worth of coins, from Ancient coins of Greece and Rome, Banknotes, and Rare US coins, World coins and every form of Gold and Silver bullion.

Some of the most valued rarities in numismatics will be on display

  • The Smithsonain Institution will display several coins from the National Collection including seldom-seen national treasures such as one of only two known 1849 pattern Double Eagles ($20 denomination gold coins) and an example of the world’s most valuable coin, the 1933 $20 Double Eagle.
  • The U. S. Treasury Department Bureau of Engraving and Printing will have over $1 Billion of currency on display including sheets of $100,000 Bills
  • The Famous 1787 Brasher Doubloon with the unique hallmark-on-eagle’s-breast 1787 Brasher Doubloon which was hand-struck by George Washington’s onetime neighbor, silversmith Ephraim Brasher, and described as “the single most important coin in American numismatics.”
  • Three of the five known 1913 Liberty Head nickels will also be displayed together.

A highlight of every World’s Fair of Money is showcasing the collections, creativity and research of ANA members. This year more than 100 exhibits covering almost every aspect of numismatics will be featured in competitive and non-competitive categories. A special highlight will be a display of Yap Stones, believed to be the largest and heaviest form of money ever used. Created by natives of the island of Yap in the South Pacific, some of the stones on the island tower over 8 feet, and many are still used in ceremonial exchange. (more…)

One-Kilo Gold Coins Will Attract Attention at ANA Money Show

The largest public array ever assembled in the United States of huge, modern, certified Chinese gold coins, ranging in size from five ounces to one kilo (32.15 ounces) each, will be displayed at the American Numismatic Association’s World’s Fair of Money® convention in Los Angeles, August 5 – 9, 2009. The presentation comes with an education lesson from the exhibitor, Nicholas Brown of Majestic Rarities in Chicago: “Protect your coins! Protect yourself!”

A highlight of the ANA convention display by Majestic Rarities of large, modern Chinese coins will be one of the 1992 proof one-kilo gold Lunar New Year commemoratives.  Only 21 were issued.     Photo by Majestic Rarities“There will be over 300 ounces of large, low-mintage gold. It will be the most amazing display of modern Chinese coins ever seen in the United States,” said Brown.

Many of the rare coins in the planned display at the ANA convention (at combined booths 331 and 430) have a low mintage of only 200 each or less. A highlight of the display will be the 1992 proof gold and silver one-kilo Lunar New Year commemorative coins. Only 21 of the gold were issued, just 185 of the silver. Both kilo coins depict all 12 animals of the Lunar New Year cycle, 1981 to 1992. Both are graded NGC PF-68 Ultra Cameo.

Accompanying these two salad plate-sized coins will be examples of 12, eight-gram Chinese Lunar gold coins issued in the first series from 1981 through 1992 as depicted on the companion one-kilo pieces. Each of these coins is graded NGC PF-69 Ultra Cameo. This will be the first time a certified set of the 1981 to 1992 Lunar gold and silver coins has ever been publicly displayed in the United States, according to Brown.

“I want people to be able to see coins they otherwise might never see in person,” said Brown who specializes in modern Chinese coins, 1979 to date. He has also become a determined crusader about the proper care of coins. (more…)

Dr. Duckor’s Barber Quarter Coin Collection to be Auctioned

by Greg Reynolds for CoinLink

The coin collecting community was surprised to learn that Dr. Steven Duckor’s Barber Quarters will soon be auctioned. After all, it is not yet complete, and two key dates are missing. The coins are of amazing quality and have been very carefully selected by Dr. Duckor who is an exceptionally dedicated connoisseur of Barber coinage. This auction may be a very favorable event for those collecting high quality, Barber Quarters ‘by date’ (including Mints) and for collectors who seek one Barber Quarter or more for their respective type sets.

Barber Quarters are 90% silver quarter dollars. These were produced from 1892 to 1916, at four U.S. Mints, Philadelphia (with no mintmark), Denver (D-mintmark), New Orleans (O), and San Francisco (S). All of Duckor’s quarters are certified and encapsulated by the Professional Coin Grading Service (PCGS).

Dr. Duckor’s quarters will be sold by Heritage on July 31 at the Hyatt Regency Century Plaza hotel in L.A., a few days before the ANA Convention begins at the Los Angeles Convention Center. Heritage will also auction a variety of U.S. coins, including at least two Great Rarities, an 1854-S Quarter Eagle ($2½ gold coin) and an 1856-O Double Eagle ($20 coin).


As no Barber Quarters are rare, in absolute terms, this collection is very important largely because of the quality of the coins included, though the great pedigrees of several of the coins are of special significance. I have not seen some of Duckor’s quarters, and most of those I did see I have not examined in a long time. Further, I have not yet had time to match many of Dr. Duckor’s coins to Barber Quarters in past auctions, especially to those that I have carefully viewed.

While I look forward to pedigree and condition census research, there are other approaches to analyzing a collection. Herein, I address the quality of these quarters with discussions of the PCGS registry, CAC verification, and Dr. Duckor’s refined taste for coins.

Dr. Duckor is certainly among the most famous living collectors, and has been seriously collecting since the 1970s. He acquired coins, for example, at the epic auction of Eliasberg’s gold coins in 1982. Many collectors can learn from his wisdom, connoisseurship, and experience. I know that I have.

“When [Duckor] gave the collection to Heritage to be auctioned,” he “asked them to submit the entire collection to CAC.” John Albanese is the primary grader and the CEO of the CAC. When the CAC places a green sticker on a PCGS or NGC holder, the CAC is approving the grade that the PCGS or the NGC assigned to the coin inside, and is opining that this grade is in the middle or upper end of the respective grade range. (more…)

Preparing for the 2009 ANA Convention

By Doug Winter – www.RareGoldCoins.com

Amazingly, it’s time for yet another Summer ANA Convention. This year’s edition is going to be held on August 5th through August 9th at the Convention Center in downtown Los Angeles and if past shows are any indication, this will be one of the best coins shows of the year.

If you’ve never been to a major coin show before, attending your first ANA can be pretty intimidating. The display area is enormous and there are hundreds of dealers from all over the world. What things should you absolutely not miss at the ANA?

The first thing I’d make sure to do at this year’s show is to view the exhibits. The competitive exhibits are always fun but it’s the Smithsonian’s display that has me very interested. This year’s star coin is the unique 1849 Double Eagle; a coin that, if it were to come to market, would set a record for the most valuable United States issue. There will be other amazing rarities on display as well but the chance to see the 1849 double eagle is just about enough to make any serious gold collector get on the plane and go to L.A.

The next thing I’d do is hit the Whitman Publishing display, buy copies of all their wonderful books and try to get as many as possible autographed by the author(s). Whitman is planning on having many of the authors attend the show and they will be signing their books throughout the show.
I certainly wouldn’t miss any of the specialty club meetings in the area(s) that were of interest to me. As an example, the Liberty Seated Collectors Club will be holding a major meeting during the show and if I were a collector of Seated coins this would be an event I absolutely wouldn’t want to miss.

And, of course, I’d be going to look for coins. Even if you don’t plan on making any purchases, you’ll be amazed at what you see at an ANA show. Some dealers will have incredible rarities that they will be happy to let you hold and examine. Other dealers will have deep inventories of coins that you collect. If there was ever a place to find the proverbial “needle in the haystack” it’s at an ANA show. (more…)

Museum Showcase, World Mints Headline Los Angeles World’s Fair of Money

The American Numismatic Association’s 2009 World’s Fair of Money® gives visitors the chance to see some of the world’s most beautiful and valuable coins, interact with top numismatists, and explore one of the country’s most exciting cities. The event will be held Aug. 5-9 at the Los Angeles Convention Center, and will feature more than 1,100 dealers and vendors, world-class exhibits, 15 mints from four continents and education presentations for every age and interest level.

“This show promises to be the most spectacular numismatic event you’ll ever see,” said ANA President Barry Stuppler. “The exhibits will be the ANA’s best ever, the educational programs and events offer something for everyone, the dealer activity will be high, and the host city ensures great attendance and an exciting atmosphere.”

The Museum Showcase makes its inaugural appearance in Los Angeles, and will be a centerpiece of the convention. Among the rarities on display will be 20 coins from the Smithsonian Institution’s National Numismatic Collection, including the first (1849 pattern) and last (1933) double eagles ever produced, as well as a 1907 Saint-Gaudens ultra high relief pattern that President Theodore Roosevelt gave his daughter Ethel as a Christmas gift in 1907.

Also featured from the Edward C. Rochette Money Museum and private collections are the finest known – and possibly first minted – 1794 silver dollar; America’s first gold coin, the EB-on-breast Brasher Doubloon; an 1879 gold pattern four dollar “Stella”; four of the five known world-famous Liberty Head nickels; and a rare, 490-year-old original copy of the first illustrated, printed numismatic book, Illustrium Imagines (“Images of the Illustrious”). (more…)

1870 $100 National Gold Note Highlights Currency in Official ANA Auction

More than 500 U.S. and world bank notes will be offered in the Official Auction of the American Numismatic Association World’s Fair of Money® conducted by Bowers and Merena Auctions at the Los Angeles Convention Center and online, August 2 – 8, 2009.

One of the many highlights is an 1870 $100 Gold National Bank Note, San Francisco Charter #1741, The First National Gold Bank (Fr. 1162), graded PMG Fine 12 Net (restorations).

“This classic rarity is one of only eight notes of this type in private hands, and one of three of this Friedberg number. Those others are in strong hands and not likely to become available in the foreseeable future. In fact, only three examples have been offered for public sale in the last decade and the latest example, nearly identical to this one, sold for $258,700 in 2007,” said Steve Deeds, President of Bowers and Merena (www.BowersandMerena.com).

“With collectors holding tightly to the others, we’re not sure when there will be another opportunity to acquire such a rare and elusive note.”

Three other 1870 National Gold Bank Charter #1741 notes are also being offered, $5 (Fr. 1136) PMG VF 30, $10 (Fr. 1142) PCGS Apparent VF 30, and $20 (Fr. 1172) PMG Very Good 10 Net. (more…)

Olsen 1913 Liberty Head Nickel to be Displayed At Portland National Money Show

The Olsen specimen 1913 Liberty Head nickel, the most famous of five known specimens, will be displayed at the 2009 National Money Show™ in Portland, Oregon.

Olsen Specimen 1913 Liberty Head NickelThe coin has has been graded Proof-64 by both PCGS and NGC. It has the distinction of being the only 1913 Liberty Head nickel ever handled by B. Max Mehl, who made it a centerpiece of his lifelong advertising campaign. It was also briefly owned by Egyptian King Farouk. When the set of five 1913 nickels was broken up in the 1940s, the Olsen specimen was sold first to James Kelly and then to Fred Olsen, whose name it has kept ever since.

The Olsen specimen was featured on “The $100,000 Nickel” episode of Hawaii Five-O soon after it broke the record for the most expensive coin ever sold in 1972. During the episode, the “star” coin is stolen by a thief and spends much of the episode passing from hand to hand as the human stars of the program look for it. The coin’s price doubled to $200,000 when it was purchased by Superior Galleries in 1978. It has been resold on several occasions since then, most recently fetching $3 million in June of 2004.

The coin is being exhibited courtesy of its anonymous owner, in cooperation with Integrity Assets Management, LLC. At the conclusion of the Portland show, the coin will return to ANA Headquarters, and will be on displayed on loan at the Edward C. Rochette Money Museum.

Bowers and Merena Auction is Highlighted by Exceptional 1854 and 1855 Gold Dollars

Bowers and Merena Auctions, America’s leading rare coin and currency auction house, premieres its first of two official American Numismatic Association auctions for 2009 this March. The auction will take place at the Oregon Convention Center in Portland, and begins with lot viewing Wednesday, March 11, to Friday, March 13, followed by the two-session auction on Thursday, March 12, at 6 p.m. PST and Friday, March 13, at 6 p.m. PST.

Gold DollarsThe top lot in Bowers and Merena’s Official Auction of the ANA National Money Show™ is lot 1455, the Pittman Specimen of the Proof 1854 Type II Gold Dollar graded Proof-64 Deep Cameo by PCGS, an extraordinary rarity in the U.S. gold coin series with just four specimens known to exist. Two of the proof 1854 Type II Gold Dollars known are impounded in museum collections, and as such, only two specimens are available for private ownership, including this example being offered in Portland.

“This is one of the most rare and important proof gold offerings of all time from Bowers and Merena Auctions,” said Steve Deeds, president. “The collector who purchases this lot will be joining a highly select group of numismatists. Only a handful of collectors have ever had the opportunity to own a proof 1854 Type II Gold Dollar, and some notably absent from the list of previous owners of these coins are numismatic luminaries such as Louis E. Eliasberg, Sr., Floyd T. Starr, Ed Trompeter and Harry W. Bass, Jr. This is a very special coin and quite a pleasure to present it at our first official ANA auction of the year.”

An exciting complement to the 1854 is lot 1458, a jaw-dropping 1855 Type II Gold Dollar, a fresh PCGS MS-67. The coin offered in this lot – an example of the Philadelphia Mint’s 1855-dated delivery – ranks high in the Condition Census for not just the issue, but the type as a whole. In fact, this coin is tied with just three other 1855s and a mere two 1854s for highest-graded honors among Type II Gold Dollars that have been submitted to PCGS. “This is a first-rate condition rarity, and a breathtakingly beautiful coin,” said Deeds. “This piece would serve as a highlight in the finest numismatic cabinet, and to have both of these incredible Gold Dollars in the same auction is really unprecedented.” (more…)

World-Class Exhibits, Educational Programs Headline 2009 National Money Show in “The City of Roses”

The American Numismatic Association’s 2009 Portland National Money Show™ gives visitors the opportunity to see rare coins and paper money, and interact with the country’s premier numismatists. The show, held March 13-15 at the Oregon Convention Center, features marquee and collector exhibits, educational presentations, and hundreds of top dealers.

“The ANA is thrilled to be coming back to this great numismatic city,” said ANA Executive Director Larry Shepherd. “The Portland National Money Show in 2004 was one of our best, and high dealer interest, great educational activities and impressive exhibits point to an even better show this year.”

The marquee exhibits are highlighted by the Linderman-duPont specimen 1804 Draped Bust silver dollar. Insured for $3.5 million, this will be the first public display of the coin outside the ANA Money Museum in Colorado Springs since its recovery 16 years ago from a famous theft decades earlier.

Other fascinating exhibits include the world-famous McDermott-Bebee specimen 1913 Liberty Head nickel from the ANA collection, and a display by the Oregon Historical Society of the legendary “Portland Penny,” used in 1845 to determine the city’s name.

“Settlers Francis Pettygrove of Portland, Maine and Asa Lovejoy of Boston, Massachusetts flipped the penny to determine whether the area, then known as The Clearing, would be named Portland or Boston. Pettygrove won the toss two out of three times,” said George Vogt, Executive Director of the Oregon Historical Society. (more…)

Lord Baltimore’s Morgan Dollar Set

  by Greg Reynolds for CoinLink

On Wed., July 30, a set of Morgan Silver Dollars traded at the ANA Convention in Baltimore for $2.035 million. Morgans were minted from 1878 to 1904, and again in 1921. While the focus here is on the nature of this set, options for acquiring Morgan Dollars that are dramatically less expensive will also be discussed.

1895-O Morgan DollarMost Morgan Dollars are not expensive and a low-grade set can be assembled for less than $20,000. Indeed, there are many Morgan Dollars that are not rare in most grade ranges, but are extremely rare in MS-65 and higher grades; these are ‘condition rarities.’ A Morgan Dollar set becomes extremely expensive when the buyer seeks these condition rarities.

All of the coins in this set are graded as MS-65 by either the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corp. (NGC), except ten or so dates that are graded MS-66. Usually, a ‘date’ refers to the combination of the year on the coin and the location of the Mint that manufactured the coin.

This set had an 1880-O (New Orleans Mint) Morgan that is PCGS graded MS-65. While the PCGS has graded more than 7500 1880-O Morgans in total, including more than one thousand in MS-64 grade, only twenty-three have been graded MS-65 and zero have been graded higher than MS-65. This total of twenty-three may represent fewer than sixteen different coins, as some may have been re-submitted in hopes of receiving a MS-66 grade.

While finding an 1880-O is easy, finding one that is PCGS certified MS-65 may be very difficult. An 1880-O may sell for around $25 in EF-40 grade. Over the last two years, several PCGS graded MS-64 1880-O Morgans have been auctioned, and most realize a price in the range of $1495 to $2300. A PCGS graded MS-65 1880-O could bring anywhere from $18,000 to $40,000 at auction in the middle of 2008, though none have been auctioned since Jan. 2007.

Most (or all?) of the coins in this set were acquired privately rather than at auction. This set was assembled by an anonymous collector known as “Lord Baltimore.” He was guided by Bob Green, who is the president of Park Avenue Numismatics.

The first coin in the set was acquired in 2001. The last coin was obtained at the Winter FUN Convention in Orlando in January 2008. (more…)

THE BALTIMORE ANA SHOW-TOTAL INSANITY!

Market Report by Laura Sperber – Legend Numismatics

1859 P1C Indian Cent, Judd-229a, Snow-PT5, Unique--Dual Obverse Mule--MS62 PCGSThis is a very difficult market report to write. We know what we did, what kind of business others did, we participated in all the auctions, yet we can not pinpoint exactly what is happening or where the market is headed. We also do NOT want people to think we are presenting hype.

From what we see, this may very well have been the BEST ANA Show ever in terms of business transacted overall, the strongest prices realized at the auctions, incredible displays, and from what we can see, strong attendance. All that created what we felt was a tremendous “buzz’ and nothing but positive attitudes. None of the dealers we spoke to had a bad show. All the tables seemed very busy most of the time the show was open. We know from start to finish we did an awful lot of business.

1944-S 1C --On a Zinc-Plated Steel Planchet--MS66 NGCWe arrived late to show. This year, we skipped all PRE ANA activities and only was at PNG day for an hour or two. Of course we were itching to make some sales. The first dealer we saw not only spent six figures with us, but bought a six figure coin without any chisel other than some terms. Not totally unusual, but its the kind of thing that when you have that happen at the very start, the rest of your show is usually kaput. Fortunately, we sold a lot to the next dealer we saw that day as well. From that point on, we never stopped selling.

The one thing we absolutely could not do-buy. Our purchases at this show are the lowest EVER for an ANA and possibly the smallest EVER for ANY major show. As of 5 PM Thursday afternoon, we had spent LESS than $100,000.00 on the bourse floor. Our buying at the auctions was substantial-but still below the levels we wanted to be at.

It has finally happened, the market is out of coins-sort of! If you wanted a junky widget-they were still around. You could not go out on the floor and buy a GEM Bust Half, a GEM early gold piece, an MS65 28S Peace Dollar, a GEM 1877 MS Indian, or that long sought after non 1926/1932 $10 Indian we still need in GEM. All the good stuff now either gets put in the back of dealers cases or gets thrown in the auction. We put out a $20 1870CC PCGS XF40 CAC piece late morning Thursday. An hour or so later, not only did we have it sold to a collector (it worth in excess of $300,000.00), we had THREE other people who were willing to commit to buy it (with two of them actually hovering behind the collector) as he was buying it. We sold several six figure coins Thursday (including a $1 1863 PCGS MS66 and monster 1891 PR set in which all the coins we PR68’s). (more…)

PNG President’s Reaction to New U.S. Gold Coin

Gary Adkins PNG President and Ed Moy, Director of the US Mint(Baltimore, Maryland) — The brief comments below are in conjunction with the unveiling of a new U.S. gold coin, the 2009 Ultra High Relief Double Eagle, by United States Mint Director, Ed Moy, at the American Numismatic Association World’s Fair of Money® in the Baltimore Convention Center on July 30, 2008.

“This is one of the most creative products to come from the United States Mint. I believe it will be one of the Mint’s most sought after coins,” stated Gary Adkins of Edina, Minnesota, President of the Professional Numismatists Guild (www.PNGdealers.com), a nonprofit organization composed of many of the nation’s top rare coin experts.

“Virtually every collector would like to own one of the Ultra High Relief gold pieces issued in 1907 because it’s one of the world’s most beautiful coins; however, because of scarcity and strong demand, prices can range from $10,000 and up. The 2009-dated Ultra High Relief Double Eagle gold coins will give collectors a chance to obtain this artistic rendition at a price closer to its actual gold bullion value,” Adkins said.

“In the early 20th century, President Theodore Roosevelt felt our circulating coins lacked artistic appeal, and he commissioned renowned sculptor, Augustus Saint-Gaudens, to create a numismatic work of art. His high relief, raised design was adopted, but after some controversy was quickly changed to lower relief because the coins could not be stacked on top of each other and there were problems with the minting process. The flat relief design that subsequently went into circulation in 1907 perhaps is not as esthetically appealing, but it made for easier commerce in the days when we actually had gold coins in circulation,” PNG President Adkins explained.

The new coin was unveiled by United States Mint Director Ed Moy on the opening day of the American Numismatic Association World’s Fair of Money convention in Baltimore, July 30, 2008. After the presentation, Adkins briefly met with Director Moy and showed him an example of a 1907 High Relief Saint-Gaudens Double Eagle.

Founded in 1953, the Professional Numismatists Guild is a nonprofit organization composed of many of the top rare coin and paper money dealers in the United States and seven other countries. PNG member-dealers must adhere to a strict Code of Ethics in the buying and selling of numismatic merchandise.

For additional information about PNG, call (760) 728-1300 or visit online at www.PNGdealers.com.