By David Owen in The New Yorker

Several years ago, Walter Luhrman, a metallurgist in southern Ohio, discovered a copper deposit of tantalizing richness. North America’s largest copper mine—a vast open-pit complex in Arizona—usually has to process a ton of ore in order to produce ten pounds of pure copper; Luhrman’s mine, by contrast, yielded the same ten pounds from just thirty or forty pounds of ore. Luhrman operated profitably until mid-December, 2006, when the federal government shut him down.

The copper deposit that Luhrman worked wasn’t in the ground; it was in the storage vaults of Federal Reserve banks, and, indirectly, in the piggy banks, coffee cans, automobile ashtrays, and living-room upholstery of ordinary Americans. A penny minted before 1982 is ninety-five per cent copper—which, at recent prices, is approximately two and a half cents’ worth. Luhrman, who had previously owned a company that refined gold and silver, devised a method of rapidly separating pre-1982 pennies from more recent ones, which are ninety-seven and a half per cent zinc, a less valuable commodity. His new company, Jackson Metals, bought truckloads of pennies from the Federal Reserve, turned the copper ones into ingots, and returned the zinc ones to circulation in cities where pennies were scarce. “Doing that prevented the U.S. Mint from having to make more pennies,” Luhrman told me recently. “Isn’t that neat?” The Mint didn’t think so; it issued a rule prohibiting the melting or exportation of one-cent and five-cent coins. (Nickels, despite their silvery appearance, are seventy-five per cent copper.) Read Full New Yorker Article

By Skip Fazzari, Authentication Consultant to NGC

Fingerprints are like a cancer to a coin, and can become irreparable if they are ignored for too long. Skip Fazzari describes the different types of fingerprints and what you can do to correct them.

For most of you, habit and experience have lessened the odds of marring the surface of your coins with fingerprints. You hold a coin properly — by its edges and close to a soft surface. Occasionally, there might be a lapse in this protocol but in most cases, we can assume that any fingerprints found on your coins resulted from carelessness or mishandling by non-collectors.
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It is difficult to know how long a fingerprint has been on a coin. Sometimes, especially in the case of Proof coins, they are easy to see the moment they occur; however, in most cases, fingerprints are not detected when they are fresh. Fingerprints are like a cancer to a coin. If ignored for too long, the chemicals in our body oils will actually etch the coinage metal. Over a period of time, and depending on their chemical makeup and the environment, they will “set” on a coin’s surface, making them difficult to remove. Copper and silver coins are the most likely to be permanently damaged in this way. Once this happens, the traces of fingerprints are virtually impossible to remove without abrasive cleaning that ruins more of the coin’s original surface. For the most part, gold is not susceptible to any type of permanent damage from fingerprints; however, on a few occasions, I have encountered a print pattern on gold that cannot be removed.  Read Full Article

By Tom Mashberg for the Boston Herald

Tom Caldwell was barely 11 when he collected his first coin - a nickel his mom gave him for milk money in 1964. It turned out to be an 1866 shield nickel, worth $20 at the time and from $300 to $1,750 today, he said, depending on condition.

“I haven’t stopped collecting since,” said the 55-year-old president of Northeast Numismatics in Concord. “It’s a way of life.”

Caldwell was one of scores of dealers at the Bay State Coin Show at the Radisson over the weekend displaying coins from every nation, era and metal imaginable.

There were Roman denarii used by Caesar to pay his troops. There were coins featuring emperors and kings from Persia and Greece and England, many in gold and silver, and of course there were highly collectible U.S. coins dating from Colonial times to the 21st century. And there were people.

“Attendance is definitely stronger - people are here to buy tangible assets, and they are aware that precious metals are going up in value,” said Merritt Reynolds, who owns Coins of Merritt in Watertown, N.Y. “Interest is strong.”

Read Full Boston Herald Story Here

By Kathleen Duncan - Pinnacle Rarities

The new breed of collector wants the coin regardless of price. I envy them that luxury, but hope they are not made complacent by their equally exuberant under-bidders. The extremely strong prices for the Husak collection of large cents is understandable. These coins are truly rare and may not surface again for years.

Some of the other items experiencing extremely spirited bidding, however, are replaceable. These coins, or their equivalents, have sold recently for far less.

Here are three examples from the recently concluded Heritage Long Beach sale:

1867 25c PCGS MS63 $86,250

It has a PCGS population of 3 with 2 higher. Greysheet is a misleading $1,500 (wake up guys!), but I doubt there are any dealers who would have bought this coin for more than a quarter of the price without having a ready buyer. (more…)

It was a beautiful coin, with a profile of a crowned Lady Liberty on its face surrounded by 13 stars, one each for the original colonies.

And it shone brightly, made of pure gold, gold likely taken from the ground under Charlotte.

On March 28, 1838, the first gold coin — a $5 Half Eagle — was struck at the U.S. Mint branch. It was on West Trade Street where the federal building now stands. The old mint, moved in the 1930s, now houses the Mint Museum on Randolph Road.

The 170th anniversary on Friday connects to other events in the city’s history:

• The first gold rush in the United States, in Charlotte in the early 1800s.

• The first branch of the U.S. Mint, opened in 1837, a sign of the city’s future prosperity.

• The first museum in North Carolina, created when the Mint building was moved to its current site.

The gold rush and the location of a mint branch did not lead, as is sometimes said, to the banks that now tower over uptown. But these historic events made the city an economic center in the region. Read Full Story in the Charlotte Observer