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The News at a Glance – July 27, 2010

Lawyer’s Dollar Coin Promotion Bypasses Bureaucracy
Charlie Smith’s outspoken disdain for folding dollars has reached high places. The U.S. Treasury Department has invited the St. Marys lawyer to a meeting in Washington to talk about it. Smith’s ongoing campaign to encourage people, banks and merchants to circulate dollar coins has attracted the attention of treasury officials. He is scheduled to meet with U.S. Treasurer Rosie Rios in September to discuss his ongoing campaign. Smith said the meeting will also include representatives from a coalition supporting dollar coins. “I think they’re interested in the fact that no one with direct interest in the dollar coin is working so hard to make that change happen,” he said. “I’m spreading them all over the country.”
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The Commemorative Wave – 1936
Pinnacle Rarities
Coin collecting in the 1930’s was heated by a willing U.S. Mint, fueled by the interest in the classic commemorative series, and railroaded by a new breed of numismatist – the marketers. These promoters took full advantage of the new urbanization of America. There was an increasing ease, functionality and reliability of the U.S. Postal Service combined with improved printing and advertising mediums. Uncertain times had opened the public’s eyes to alternative investments, and these early dealers took full advantage. Commissions were established and pushed for approval from Congress for the production of commemorative halves. The commission would purchase quantities from the U.S. Mint to resell at a profit, presumably using the proceeds to further the objectives of their respective commission. The scruples of many of these organizations came into question early on.
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Coin Collector and Blogger Interviewed for the Saturday Evening Post
Coin Collector’s Blog
The Saturday Evening Post continues to publish a variety of stories including those of general interest. One of The Post’s regular columns is “Collectible News & Notes.” As part of the column, The Post features a collector and their passion for what they collect. In the July/August 2010 issue (Vol. 283, No. 4), your blog host is the featured collector. I was contacted via email by the writer of the article. After we exchanged a few notes, he called me one afternoon. I happened to have been driving to a local grocery store when he called. I spent most of our one-and-a-half hour conversation while sitting in the parking lot in front of the grocery store. It was a pleasant conversation and I am sure I gave him more information than he asked for.
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Unusual Holey Dollars Head Australian Rare Coin Auction
Paul Fraser Collectibles
Created from mutilated Spanish dollars, these numismatic oddities were Australia’s first currency. The Holey Dollar was a remarkable type of coin – or a way of producing coins – which the British resorted to in order to produce unique currencies for two colonies: Prince Edward Island and New South Wales. In both cases the governors of the colonies responded to shortages in currency by taking Spanish Dollars, first minted at the end of the 15th century, and punching the centre out. The resulting ‘holey dollar’ and ‘dump’ (the outer part and centre respectively) were both used as coins, with additional markings to indicate they were part of a new currency.
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Quantum States, Uncertainty, and the 1907 Gold Ten Dollar Pattern
Heritage Blog
There were two Plain Edge, Wire Rim Saint-Gaudens ten dollar pattern coins made in 1907. Heritage has one of them, the only one known to have survived, in its upcoming Official ANA U.S. Coin auction in Boston. The known history of this particular coin goes back only a few years. Yet recent numismatic research has revealed what happened to the two Plain Edge, Wire Rim tens immediately after they were struck: In mid-July 1907, one was sent to then-Secretary of the Treasury George B. Cortelyou, who forwarded the coin to President Theodore Roosevelt. The other was sent to the coins’ designer, the sculptor Augustus Saint-Gaudens. One coin, two possible destinations… Roosevelt or Saint-Gaudens, president or artist… a quantum pedigree.
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U.S. Mint Fraud?
One of the more disingenuous frauds the citizens of the United States are being subjected to these days is coming out of the US Mint. For over 2 years the Mint has been illegally rationing gold and silver American Eagles and now the Director of the U.S. Mint, Edmond Moy, is finally on the hot seat. “A congressional subcommittee has been asked to investigate the growing backlog in and foreign procurement of U.S. bullion and collectors’ precious metals coin blanks manufactured by the U.S. Mint.” … The Law clearly states that “the silver coins must be supplied to the US public in ‘quantities sufficient to meet public demand’ EVEN IF it means the US Mint drives up the price of silver bullion on the open market in order to obtain the silver needed to produce the US Silver Eagles.”
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