Coin collectors can rest easy. President Bush on Friday signed into law a bill that will continue the minting of $1 Sacagawea coins in 2008, but only for numismatic purposes. No more will be produced for general circulation until next year.

The legislation whizzed through Congress this week, as lawmakers scrambled to correct an error in a law enacted last year that calls for circulating new Sacagawea coins starting in January 2009 that will feature a regularly changing reverse celebrating different Native American themes.

In drafting that law, the sponsors forgot to allow continued production of the existing coin in 2008, however. That meant that “many of the standard U.S. Mint products the coin-collecting public is expecting to order and receive this year, such as annual proof and uncirculated sets, will not include a 2008 Sacagawea dollar,” warned Rep. Gwen Moore , D-Wis., in explaining the need for the new bill. Read Full Article

The American Numismatic Association has received a $447,095 donation to support educational programs and produce a much-needed consumer awareness booklet with helpful information on coin collecting.

The donation is from the settlement of a class action lawsuit, Francisco v. Numismatic Guaranty Corporation, concerning First Strikes designation. While admitting no wrongdoing or liability, NGC settled the case and discontinued the use of First Strikes, believing that controversy from the lawsuit would not be in the best interests of the hobby.

The parties, with the court’s approval, agreed that the lion’s share of the proceeds go to the ANA to further support its mission of collector education.

“This donation allows the ANA to implement new strategies as well as enhance its delivery of numismatic education to a vastly larger audience,” said ANA President Barry Stuppler. “We are obviously greatly appreciative of NGC’s commitment to best practices in our hobby, and to its efforts to support education, which is a fundamental value of our Association.”

“The ANA is the hobby’s premiere organization, and no one is better at developing and delivering educational programs,” said NGC Chief Executive Officer Steve Eichenbaum. “Coin collecting is a very complex hobby and everyone benefits when collectors are knowledgeable and well educated.”

Stuppler said the ANA would soon begin work on an educational consumer awareness booklet that will include consumer tips as well as basic information on grading, authentication and conservation. The booklet also will discuss the minting process and what constitutes a “first-strike” coin, plus feature a rich frequently- asked-questions section as well as a comprehensive listing of helpful resources for collectors. (more…)

Feb. 18 (Bloomberg) — A collection of war medals that includes nine Victoria Cross medals, stolen from a New Zealand army museum more than two months ago, was recovered after police offered a reward for their return.

The medals were returned in good condition, New Zealand Police said in a statement e-mailed Feb. 16. The offer of a NZ$300,000 reward ($237,000) last month, the largest incentive ever posted in New Zealand, was instrumental in the medal’s return and a sum of money has been paid, the police said.

The 96 medals were stolen from an annex of the Waiouru Army Museum on New Zealand’s North Island on Dec. 2. They included a Victoria Cross and Bar awarded to Charles Upham, New Zealand’s most decorated soldier, as well as two George Medals and one Albert medal. The Victoria Cross is the highest military honor awarded to soldiers serving in the U.K. and in former British Empire countries.

The reward “encouraged a person to come forward and facilitate the return of the medals to police,” said Detective Senior Sergeant Chris Bensemann, head of the task force investigating the theft. “New Zealand Police celebrate the return of these national treasures.” Read Full Story

Auburn, Washington, February 6, 2008 (revised 2-7-08)– This dispute between Northwest Territorial Mint and the Attorney General of Washington is about our policy of pricing of metals.

Furthermore, the press release issued by the Attorney General of Washington is inaccurate and deceptively misleading.

Investors from around the United States and Canada can buy and sell precious metals such as gold, silver, platinum, and palladium from Northwest Territorial Mint without having a pre-existing account.

Northwest Territorial Mint locks its clients in to the current price of metal at the time of purchase or sale.

We then expect those clients who buy from us to remit payment within two business days, or, if selling, to ship within two business days. (more…)