Certainly it would be hard to logically justify the continued manufacture and use of the US penny from an economic standpoint.

The Penny costs 1.7 cents to produce and is worth only 1/26th of what it used to be worth when Lincoln was President.

In fact it is estimated that the US Mint loses over 70 Million dollars a year producing this denomination of US coinage.

Let us know what you think!  Is the Penny Useless? Should we get rid of it or Keep it?

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Elusive 1921-S PCGS MS66 is Placed through Private Treaty

Pinnacle Rarities is proud to announce the private treaty sale of the finest known 1921-S Walking Liberty half. The coin is graded MS66 and is the single finest graded at PCGS. The 1921-S is by far the rarest Walking Liberty half in the uncirculated grades, and is very elusive in the top gem grades.

Most of the early Walkers are tough, especially in gem or better. With the end of WWI, the early twenties saw a decrease in demand for circulating coinage. As such, the mintage figures for 1921 are low. The years surrounding the end of the war produced the series’ most prized dates.

For 1921 all three mint marks are elusive, and despite the slightly higher mintage from San Francisco, the bulk of them were heavily circulated or lost to attrition. Today surviving quality examples are scarce, Coinfacts gives this date a 9.1 in MS65 on a rarity scale of 1 – 10.

In relation to the other series keys, the 1921-S has a bit higher mintage. The lower circulated grades are more available than some more common dates. But as the condition reaches the extra-fine (XF) level, the date becomes increasingly tough. No date in the series has fewer coins graded in the uncirculated grades. Nothing is even close.

The 1919-D is considered by some the King of the Walker series. However, there are just 202 1921-S coins graded in the uncirculated grades and the next closest is the 19-D with 344. So, there are 142 more 19-D halves grading in MS60 or better then there are uncirculated 21-S halves.

In fact, Jeff Ambio author of Collecting & Strategies for Walking Liberty Half Dollars agrees, describing the date as “the rarest Walking Liberty Half in Mint State, (with) Choice examples having tremendous appeal in virtually any numismatic market.”

At Pinnacle Rarities, nothing gets sold on our website that we don’t want to buy back. Pinnacle Rarities takes pride in the fact that after decades of placing some of numismatic’s finest material, many of these rarities come back through our offices. This is a prime example. We have been lucky enough to trade this coin several times. We originally purchased this example from late numismatic icon – Jack Lee. We then placed it into the PCGS Hall of Fame GBW Collection. Although retired, that set still ranks as the all-time finest.

In 2004, we were fortunate enough to buy that collection. We again sold this example privately. When it was time to sell, that collector knew to call us first. And again, we found it a home in a very astute collector’s cabinet. We are unlikely to see this superb example again anytime soon. But rest assured, it has found a good home – no a GREAT home.

The coin has fabulous in hand eye appeal. It is the sharpest struck 1921-S example we’ve encountered. While there is some weakness evident in the central devices, it has great detail with good hand definition and crisp eagle leg feathers. The surfaces are extremely clean with only a couple light hits on the obverse.

The reverse is faultless. Some light toning in the peripheries provides a pleasing palette of color represented along the rims. This coin has been the centerpiece to every collection it’s been in, and will likely never find an equal.

Have you ever wondered what a coin collection might look like after it is pulled out of a house fire? The following is from the Numismatic Conservation Services (NCS) newsletter and shows the remarkable conservation of a cherished collection after a damaging fire.

“A house fire can be especially devastating to a prized coin collection. A once pristine, cherished collection can turn into a horrible blackened mass. However, with some careful conservation work, all is not lost.

The first stage in conserving a group of coins such as these pictured is to safely remove them from what remains of their holders. Removing coins entombed in deformed coin holders is a challenge. The standard methods of removing coins from third-party grading services’ holders are usually not an option. To make the task even more difficult, every coin and every holder is different. The heat of a house fire can melt the plastic that makes up the majority of quality coin holders. While still in the fire, this plastic, in the molten state, will combine with soot and other materials. After it has solidified, the conservator’s job is more difficult.

Once freed from the burnt plastic mass, the next step is to remove the small bits of adhered plastic from the surface of each of the coins as safely as possible. Different plastics react to conservation efforts in wildly different ways. Materials from the fire itself also adhere to the coins and have to be removed without damaging the surface of the coin. Coins can sometimes be left with lightly stained surfaces, often a result of the heat of the fire.

A pattern emerges as the collection is conserved. Coins in the best holders, those certified by third-party grading services such as NGC, are the best off. Coins housed in coin tubes and individual holders are often damaged by the action of the fire or necessary actions taken in the aftermath.

The conservation results on this group of coins can be described as better than expected. The classic gold coins came out especially well as did the Morgan and Peace Dollars. This collection was submitted to NCS by Liquid Bullion Coin & Collectibles of Houston, Texas. “Wow! NCS was a life saver for our client. He was afraid he had lost everything and came out with over $27,500 in Rare coins, Bullion, and Generic Gold,” commented Danny Lee, Liquid Bullion’s CEO.”