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More News at a Glance – December 13, 2010

Coins Honoring Nation’s Oldest Military Branch Unveiled at Army/Navy Game

United States Mint
Designs for the 2011 United States Army Commemorative Coin Program were unveiled today during the annual Army/Navy football game played in Philadelphia, PA. Public Law 110-450, the “United States Army Commemorative Coin Act of 2008,” authorizes the United States Mint to mint and issue $5 gold, $1 silver and half-dollar clad coins to recognize and celebrate the founding of the United States Army in 1775.
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How Peru Became the Counterfeit-Cash Capital of the World
The E-Sylum
Back in the 1980s, Peru’s government ran the printing presses as an answer to the country’s massive economic crisis, but churning out currency only made things worse and hyperinflation topped off at 1.2 million percent by the end of the decade. The printing presses have returned, but this time it is not the government cranking out bills, and the currency coming out is not necessarily the Peruvian nuevo sol.
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Peter the Great rules Russian Coins and Currency sale with a $234,000 gold piece
Paul Fraser Collectibles
The commemorative medal marking the Battle of Riga led the way in Bonhams’ spectacular sale. Bonhams completed their sale of roughly 550 lots of rare Russian coins and currency last week with nearly 100 coming from the Tsarina collection. We felt confident in predicting that many of the best lots would shoot past their estimates given the rapidly increasing power of the Russian collectibles markets which certainly has numismatics at its head. We weren’t disappointed.
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Hobby Popularity Boosted Dime Saving
Perhaps it is time we take a second or even a first look at some of the lower-mintage Mercury dime dates like the 1938-D. Right now the 1938-D seems fairly stable in terms of price, but you have to think that $34 for an MS-65 and $62 for an MS-65 with full split bands is awfully inexpensive when you consider its mintage and the potential for demand for a coin that is now more than 70 years in age. The 1938-D Mercury dime had a mintage of 5,537,000. It seems unlikely that a coin with such a mintage would be overlooked, and especially overlooked for seven decades.
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Morgan dollars in high demand after silver surge

Rare Coin Market Report
Gold and silver continued their assent Dec. 6, with gold hitting a record $1,432.50 and silver reaching a 30-year high of $30.73 during trading on Dec. 7. Investors continue to be worried about the financial stability of Europe, the potential for a weak U.S. dollar, and the possibility that the Federal Reserve will expand its latest stimulus package to buy more U.S. bonds. These factors, combined with increased demand associated with the holidays, means there is a strong likelihood that bullion prices may keep increasing.
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Mint delays sale of America the Beautiful 5 Ounce Coins

Numismatic News
A flood of complaints about high prices caused the U.S. Mint to postpone the beginning of sales of the 5-ounce America the Beautiful silver bullion coins. The Mint was supposed to begin selling 165,000 of the new 3-inch diameter pieces to its Authorized Dealer Network on Dec. 6. However, before the day was finished, the Mint issued a statement saying it was not confirming any sales that day.
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