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Coin News for July 22, 2010
Famous Roman Coins You Can Collect
NGC
Roman Republican Denarius, after c. 211 B.C. This coin breaks with our guiding theme since it was struck long before famous individuals began to issue coins of their own, but it is worth taking the opportunity to recognize the approximately 350 years of Roman coinage before the empire. The coinage was quite varied in this period, and included gold, silver and base metal coins in a wide range of denominations. Shown here is a “typical” early denarius, struck starting in about 211 B.C. Many of these denarii bear the names of moneyers, the officials in charge of coinage in any particular year. This happens to be an anonymous piece from about 207 B.C. It shows on its obverse the helmeted head of the goddess Roma, and on its reverse the Dioscuri, riding into battle with lances at the ready.
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The Market Today, The Market Twenty Years Ago
Stack’s News
Market study is always worthwhile. Many years ago financier Bernard Baruch stated that he made his money by purchasing bargains in the stock market when other people were ignoring issues, and when everyone was madly scrambling to pay record prices for stocks, selling out. Buy low, sell high, as the saying goes. In numismatics a lot of people do this. Do a bit of reading, and you can start getting more value for your money than ever before. What a great way to start a new specialty! And, apart from that, you’ll find a large panorama of coins in series that have had evergreen popularity, more or less, with few ups and downs. Copper coins, most early “type” coins in all metals, and other specialties beckon. On balance, most series have appreciated in value since 1990, reinforcing the philosophy that a carefully formed collection can be a great store of value.
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World Paper Money Errors
Banknote News
While there are several catalogs covering United States paper money errors, this book is the first attempt at a systematic approach to describing, documenting, and pricing errors on world banknotes. As such, it’s an important new addition to the world’s numismatics knowledge base, but it suffers from some shortcomings I hope will be addressed in future editions. Author Morland C. Fischer does a very good job of explaining the various types of errors found on banknotes and has distilled them down to an eight-point FEN (Foreign Error Note) ranking system in which higher numbers correspond to more significant errors. Reasonable people might disagree over whether a missing overprint is more dramatic an error than an inverted back (FEN 4 and 7, respectively), but the codification of the taxonomy of errors is a welcome improvement to a subjective field of study.
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U.S. Mint Numismatic Gold Prices to Decline?
MInt News Blog
After spending more than two months at the highest levels on record, the prices for US Mint numismatic gold coins should be reduced this week. The gold numismatic products currently available include the 2010 Proof Gold Buffalo and the First Spouse Gold Coins featuring Sarah Polk, Margaret Taylor, Abigail Fillmore, and Jane Pierce. Under the US Mint’s pricing policy for numismatic gold and platinum coins, the prices of products may be adjusted as frequently as weekly in response to changes in the average price of the metals. Each week, the average of the London Fix prices from the prior Thursday AM to the current Wednesday AM is calculated.
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The Top 5 Worst Coin Investments
Susan Headley
(See Disclaimer) Number One on my list is the TV shopping show dealers and premium “Mints” out there that sell nice looking commemorative coins for premium prices, but that have no value beyond their bullion (if they have any) when you must eventually sell them. Some of these “Mints” sell on the TV and cable-based shopping channels, and the prices they charge when they do sell genuine U.S. Mint coins are nearly always several times higher than the price the coins would cost from a normal coin dealer! These shows rarely sell anything that can’t be acquired elsewhere more cheaply, so don’t impulse buy from these shows! Do a little research and you’ll see the same Silver Eagles at $2 to $4 over spot price from major traditional coin dealers.
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German Micro-Currencies
The E-Sylum
The Havelbluete, the Augusta and the Chiemgauer might sound like the names of locally brewed beers, but they are in fact micro-currencies which, like micro-breweries, are in abundance in Germany. There are more than two dozen local currencies in circulation, and 40 or so initiatives are about to start printing their own banknotes. These notes are not gimmicks. They’re recognized legal tender — at least within each local region. Artisanal pork and organic fruit and vegetables aren’t the only locally made products exchanging hands. The regional currency, the Kingower is as well. Walburger Zanbugler(ph) is a local beef and pork farmer. At the front of her refrigerated stall, prominently displayed near the regional delicacy, Weisswurst, a sign in German reads, Kingower accepted here.
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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.
