Coin News for February 25, 2010

By Tim Shuck on Thursday, February 25, 2010
Filed Under: Coin News Daily

U.S. Mint Is Still Selling 2009 Gold Eagle Bullion Coins
Gold and Silver Blog
It’s nearly the end of February, and the United States Mint is still trying to push the remaining inventory of 2009-dated gold bullion coins out the door. Sales of this year’s 2010 American Gold Eagles began on January 19, 2010. This was later than typical because the United States Mint made the decision to continue producing the 2009-dated coins into the end of the year. This in turn, delayed the start of production for the newly dated coins and the first available sales date. When sales of the 2010 Gold Eagles finally began, the US Mint had a remaining inventory of 51,000 of the 2009 Gold Eagles.
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Coin Shows to be Held in the Old San Francisco Mint
Numismatic News
The Old U.S. Mint building in San Francisco will open its doors for four days only in 2010 for the “Old SF Mint Coin Show,” sponsored by Griffin Coin Company, April 23-24 and Sept. 17-18. More than 30 coin and currency dealers will be in attendance to showcase U.S. and world coins and paper money. The show will also offer complimentary tours of the building three times each day, as well as drawings and door prizes. “Gathering the local and regional numismatic community in such a significant location for our hobby is a blessing,” said Scott Griffin, owner of Griffin Coin Company.
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Counterfeit Pound Coins Spook Retailers
Numismaster
Coin collectors usually call it a beaded edge, while the British Broadcasting Corporation is referring to it as a “ring of dots.” Regardless of the terminology applied, it is this lack of a beaded edge on most British £1 coins that has recently led to some retailers in Northern Ireland rejecting the “round pounds” wholesale as being counterfeits. Unfortunately, not all the 2008 and 2009 £1 coins being rejected are fakes, according to a Jan. 4 BBC report.
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Submitting Coins to PCGS and NGC
Coin Update News
Hobbyists and investors pay premiums for coins encapsulated by Professional Coin Grading Service and Numismatic Guaranty Corporation, but relatively few submit raw coins to these and other grading companies, in part, because the submission process can be complicated and/or many prefer submitting through a dealer–and for good reasons, too, as we shall learn later in this series. This installment covers basics with links providing additional information. In many ways, the direct submission process for PCGS and NGC is similar.
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Olympic Coins Not a Worthwhile Investment
Wallet Pop
The quarter-page ad in the New York Times caught my eye: “Final Year Vancouver 2010 Olympic Winter Games Silver Dollar Just Released!” For as low as $24.95, I could have a silver dollar from Canada — with a hockey player on it. Since I couldn’t make it to Vancouver, it looked like an Olympic souvenir worth having. Or was it? You’d think that a silver dollar would cost just that — a dollar, even at current exchange rates. Why would anyone pay $24.95 for a silver dollar? I could buy a Loonie, Canada’s dollar coin, for, oh, about $1.
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U.S. Returns Cultural Treasures to Iraq
CNN
The United States gave Iraq a bit of its long history back Thursday in the form of ancient golden earrings, an old Roman coin, a rifle emblazoned with Saddam Hussein’s image and more. U.S. Immigration and Customs Enforcement Assistant Secretary John Morton gave the cultural items to Samir Sumaidaie, Iraq’s ambassador to the United States, in a ceremony at the Iraqi Embassy. It was the latest in a series of returns of more than 1,000 cultural artifacts. “It is a great privilege and honor, on behalf of the United States, to return to the people of Iraq a collection of cultural treasures that reflects their nation’s rich history and heritage,” Morton said.
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About the Author

Tim Shuck is a life-long Midwestern resident, and started collecting coins after finding an Indian Head cent on the ground at his childhood farm home. Additional encouragement came from looking through a collection of well-worn late 19th and early 20th century coins kept by his grandfather in an old leather coin purse. Current collecting interests include U.S. types from the Civil War era through the early 1930's, and Colonial and Early American coins.