Coin News Daily February 5, 2009

By CoinLink on Thursday, February 5, 2009
Filed Under: Coin News Daily

Are Standards Slipping or Being Fine Tuned?
By F. Michael Fazzari, Numismatic News
Today, Mint State Seventy (MS-70) denotes a perfect coin or does it? That was not always the case. There was no MS-70 when I started collecting coins. Or perhaps I should write that I cannot recall ever seeing, hearing, or reading about an actual coin reaching this grade. In fact, the only coins that were graded using numbers were large cents. As it is today, the numbers represented adjectival grades. An uncirculated large cent could be MS-60, MS-65, or MS-70 with much of its grade based on color. Numeric grades of -62, -63, -64, -66, -67, -68, and -69 did not exist; but that’s a subject for another time as these grades eventually were added to the uncirculated range.
[ Read Full Article]

United States Mint Opens Exhibit Highlighting Journey to Re-create 1907 Double Eagle
US Mint
United States Mint Director Ed Moy opened an exhibit today detailing the development of the 2009 Ultra High Relief Double Eagle Gold Coin, a modern version of Augustus Saint-Gaudens’ original 1907 Double Eagle $20 gold piece. The exhibit, previewed at the World’s Fair of Money® last year in Baltimore, is on display at the United States Mint at Philadelphia. Immediately following the ceremony, reporters and the media got a behind-the-scenes look at coin design using 21st century digital technology used to make the coin possible.
[ Read Full Article]

Environmental group has a slick message for loonies
CTV.CA
A B.C. environmental group’s efforts to use the Canadian loonie to spread an environmental warning have hit a bit of a slick. The Royal Canadian Mint has served the Dogwood Initiative a cease and desist order after the non-profit group distributed decals to stick on the coin’s loon design. The decal covers the coin and has horizontal lines depicting the water in black to create an illusion that the bird and its surroundings are coated in oil.
[ Read Full Article]

VAMs showing volatility
By Mark Ferguson for COIN VALUES
Worldwide economic turmoil is reaching more deeply into the coin market, stirring greater volatility in values. Some market segments continue to trade very actively, such as coins priced at less than $500 or a little more. But other areas of the market are really being squeezed. There’s no clear pattern right now as to the market direction, except for an overall softening of values.
[ Read Full Article]

How Do Coin Dealers Get So Many Coins That Are Limited to One Per Person?
By Susan Headley – About.com
The way coin dealers get so many limited-issue, one-per-person coins is that they have all of their employees each buy as many as they can in every family and friend’s name they can pull off! These dealers typically pay employees a $20 to $50 bonus for each coin they bring in, in unopened Mint-shipped boxes. That is, the dealers pay their actual cost including shipping, plus a bonus amount. The coin dealers also frequently extend this offer to customers and others. I’ve even heard of dealers cooperating with local coin clubs and running ads in the newspaper or online for people to order the one-per-household coins for them!
[ Read Full Article]

SA to get ‘very modern’ new coins
Cape Argus
South Africa is to get some “exciting and hip” new coins, but what they will look like is still under wraps, says government spokesman Themba Maseko. Briefing the media at Parliament on Wednesday after the Cabinet’s fortnightly meeting, he said the new coinage would be unveiled soon. “The proposed design changes for various coins were approved by Cabinet. The new designs will be gazetted shortly.”
[ Read Full Article]

Overseas buyers start new gold rush
Stuff.co.nz
New Zealand is poised for another gold rush but it’s unlikely anyone will be digging for their fortunes. As gold prices hit record levels, it’s overseas buyers with money to spare who are turning their dollars into Kiwi gold. New Zealand Mint head bullion trader Mike O’Kane said as the world recession deepened, more people wanted to safeguard their cash and saw the precious metal as an insurance policy. The price of gold has doubled in the past two years and last week hit an all-time high, reaching $1745 an ounce.
[ Read Full Article]

About the Author

1 Comment(s)

Investing Gold Coins | Feb 6, 2009 | Reply

Pretty cool to hear about the St. Gaudens and how it came back into circulation. Really looking forward to getting mine soon, the shipping date keeps getting pushed back.