Coin News Daily July 27, 2009

By CoinLink on Monday, July 27, 2009
Filed Under: Coin News Daily

National Gold Exchange seeks court protection
Tampa Business Journal
National Gold Exchange Inc. filed a Chapter 11 bankruptcy petition on July 24, two days after Sovereign Bank seized its multimillion-dollar gold coin collection as collateral on $35 million in loans. The coin company, estimates its assets at $10 million to $50 million, and its liabilities at $50 million and $100 million, court records state. A Hillsborough circuit court judge allowed Sovereign Bank to seize the coins amid allegations that Mark Yaffe, owner of the coin business, had fraudulently overstated the collection’s value to the bank, records state.
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Will Tax Discrimination Against Coins Ever End?
By David L. Ganz, Numismatic News
Coin collecting and investing was changed, for more than a generation, when the 1982 Tax Equity and Fiscal Responsibility Act (TEFRA) was passed by Congress. One small section of the law for practical purposes prevented placing rare coins and some other collectibles in Individual Retirement Accounts or Keogh accounts, and also changed the way gains on collectibles were taxed under the Internal Revenue Code.
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Museum Showcase, World Mints Headline the ANA World’s Fair of Money in August
PCGS
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 August 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 educational 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.
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Mint that Never Was Makes Interesting Tale
By Brent Zimmerman, Numismatic News
The very mention of Carson City causes most collectors’ ears to perk up a bit. And everyone knows that the main United States mint is, and always has been located in Philadelphia. Three other locations of early U.S. mints in the South have been Dahlonega, Ga., Charlotte, N.C., and New Orleans, La. In addition to Philadelphia, the current mints are the famous San Francisco branch mint, the Denver Mint and the toddler West Point, N.Y., facility which has been in business since only 1973 as compared to 1792, 1854 and 1906, respectively, for the other three.
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Moon landing and 50 cent coin with something in common
Royal Australian Mint
Forty years ago today mankind made history with the famous first step on the Moon. In 1969 the Royal Australian Mint made its own history with the issue of the new dodecagonal 50 cent coin. At a commemorative Apollo 11 anniversary event in Canberra today the Mint officially launches its brand new 50 cent collector coin to celebrate the historic moon landing in 1969
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THE AMERICAN WATERCOLOR SOCIETY AWARD MEDAL
E-Sylum
Richard Jewell and Dick Johnson copied me on some of their recent correspondence regarding the American Watercolor Society Award Medal. Rich furnished images of the medal. I had some technical difficulties with the reverse image, but the obverse is lovely and already elicited a “Wow, nice medal.” Comment from a viewer who found it on our image archive on Flickr. -Editor
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