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Coin News for June 24, 2010
NGC Releases New Version of Online Census Report
NGC
Some enhancements to the NGC census report were recently released. The report has been expanded to include population figures for coins that bear the Plus Designation (). NGC began using the Plus Designation on May 25, 2010 and applies it to all eligible coins at the high end of their assigned grade, approaching the quality requirements for the next grade. In addition to their superior technical merit, coins receiving a must have above-average eye appeal. More information about the Plus Designation may be found at the NGC website. Another enhancement to the NGC census report is a feature where users may expand or collapse the listings of varieties and pedigrees for a given coin.
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Gold 100 Francs Emperor Napoleon III Coin to be Offered
Stack’s
The September 2010 Coin Galleries sale will offer one of the world’s most “imperial” coins, the .900 gold 100 Francs of Emperor Napoleon III (1852-1870). Struck at Paris in 1867, this 35 millimeter, 32.25 gram gold piece presents a laureate bust facing right, the laurel earned by victory in the Italian war against Austria in 1859. The edge presents a prayer, “God Protect France.” The reverse presents the imperial Arms on an ermine mantle with crossed scepter and Main de Justice. The Napoleonic eagle occupies the shield, surrounded by the crown and Collar of the Legion d’Honneur. Only 29,000 were struck. 100 Francs was a significant amount of money in 1869, probably more than a month’s wage for a skilled worker.
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Truly Rare Coins Never Go Down in Price … Do They?
Coin Collecting
Shortly before completing my set of Type 1 double eagles, a rare coin broker told me that “great rarities NEVER go down in price.” Headlines in major coin publications touting the latest auction results would lead you to believe that this is true. After all, if there is only 25 of something but more than 25 people want it, the price is going to go up. The belief is that as more and more millionaires are created each year, more of them will come into the rare coin market. I’ve also heard it said “never say never.” What happens when financial turmoil takes some of those millionaires and returns them to the middle class?
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Give a Talk Based on Your (Coin) Memories
Numismaster
The last time you attended a convention, you spent much of your time talking about your favorite coins, maybe the Barber quarter and the challenges in putting together a complete set. You spoke of your interest in the series, how you slowly built your set, the coins that were hard to find, and how long it took you to acquire the 1901-S rarity. You told your story to your numismatic friends and your favorite dealers. Why not branch out a little, and tell a wider audience? Give a talk at your next coin club meeting. Whether it’s your local club or a big convention, speakers are always welcome. Major shows, such as the World’s Fair of Money and Florida United Numismatists, look for speakers for their Numismatic Theatre and educational programs.
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VAMs Sharpen Coin Grading Ability
Coin Update News
For a long time I was reluctant to become a member of VAMworld because so many varieties of Morgan Dollars and Peace Dollars exist. I just couldn’t imagine my searching for them all and adding more designations to labels, especially since major grading companies now include stars, plus signs and stickers on their holders. Then I realized something important about the study of VAMs: You can become an expert coin grader searching for them because you learn to analyze every nook, cranny and die crack—literally.
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An Ounce of Advantage
Dave Harper’s Buzz
Back in the 1970s, the Krugerrand grabbed the attention of gold buyers by claiming it was the best way to own gold. Buyers leaped at the chance to buy a coin that was a convenient one troy ounce in gold weight. Whatever the headline price of gold is, that’s the metallic value of the coin, because market prices are quoted in troy ounces. This convenience was and still is critical to the success of bullion coins. That’s why the size it was copied by other major world mints, such as the Royal Canadian Mint, U.S. Mint and Austrian Mint. They all created their own one-ounce bullion coins.
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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.
