Coin Collecting News

By Doug Winter – RareGoldCoins.com

The decade between 1834 and 1844 was the beginning of the modern era at the United States mint. The second half of this decade was especially interesting. A number of experiments and acts of legislation provided some of most attractive and popular issues in the history of American coinage.

A combination of factors occurred in the early to mid 1830’s that led to these design changes and the introduction of new mints and new denominations. Large quantities of gold were discovered in North Georgia and western North Carolina in the early 1830’s. This led to the establishment, in 1834, of branch mints in Charlotte, New Orleans and Dahlonega. These mints opened in 1838 and by the end of the 1830’s, all three were producing gold coins.

An important technological advance was the introduction of the steam press in 1836. Coins were now able to be struck using a close collar which allowed for a thicker edge and a more precise diameter and sophisticated designs. It also meant that the quaint, “folk art” designs of John Reich were to be replaced with more modern, technologically savvy renderings.

Christian Gobrecht was named the new Mint Engraver in 1835, after the exodus of John Reich. Gobrecht was a talented artisan whose skill enabled the Mint to modernize its gold coinage. Beginning in 1838, he attempted to create a uniform Liberty Head design for all three of the current gold denominations. This design would remain, with minor changes, until 1907.

One of the first assignments that Gobrecht was given was to design a new gold dollar. A small number of experimental pieces were produced in gold (Judd-67) as well as in a gold alloy, silver and copper. Despite an attractive design, this experiment did not produce any immediate results and the gold dollar denomination was shelved until 1849.

As more and more gold was discovered in the south, the importance of the yellow metal in coinage increased. Conversely, large discoveries of silver in Mexico and South America meant that the price of gold bullion rose. The Classic Head quarter eagle was introduced in 1834 and it featured a design by William Kneass and John Reich. The weight of these quarter eagles was reduced to 258 grains (from 270) and the diameter was lessened from nineteen millimeters to 17.5. Most importantly, mintage figures rose dramatically. Between 1829 and 1834 around 25,000 quarter eagles were struck. In 1834 alone, over 112,000 of the new Classic Head pieces were produced. Continued

Famous Roman Coins You Can Collect, Part III
NGC
After having already had an interesting career, Sulla came to prominence while in his 50s, during Italy’s Social War (91-89 B.C.) and the First Mithridatic War (88-84 B.C.). On one occasion Sulla invaded the capital itself to oust members of the opposing party, and soon after, in 82, he defended that same city from an assault by neighboring Samnites. His main platform was to erode the power held by wealthy families and the senate, believing he was more deserving of that authority. Sulla was successful, and established himself as dictator in Rome in 82 B.C. Not long after, in 79, he reluctantly forfeited his authority and soon died of disease. It is with the struggle between Sulla and Marius that we might suggest the “Imperatorial Period” of Roman history began; it would last until 31 B.C., when Octavian defeated Marc Antony and Cleopatra at the Battle of Actium. This silver denarius of c.82 B.C. depicts the head of Roma and a scene of Sulla in a triumphal chariot.
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U.S. Mint First Spouse Coins Update
Mint News Blog
The Abigail Fillmore First Spouse Gold Coins will go on sale tomorrow. There will be a maximum mintage of 15,000 coins across both proof and uncirculated versions, with no household ordering limits. Both of these represent changes in procedure from prior releases of the series, which had maximum mintages set at 40,000 and ordering limits imposed for at least the first month of availability. Since the price of gold has remained within the same average range, the proof coins will be priced at $729 and the uncirculated coins will be priced at $716.
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History Shows A Reagan U.S. $50 Note Not Too Likely
Numismaster
The idea of putting Ronald Reagan on the $50 Federal Reserve Note certainly made for an interesting week for our poll question. As you might expect, there were strong feelings on both sides of the issue. Obviously politics divides numismatists as well as the country at large. I expect the proposal to put the nation’s 40th President on the $50 bill will go nowhere. The sad truth about our paper money is simply the lack of change of the individuals on the notes. Throughout my lifetime George Washington has presided over the $1 bill, Thomas Jefferson the $2, Abraham Lincoln the $5, Alexander Hamilton the $10, Andrew Jackson the $20, Ulysses S. Grant the $50 and Benjamin Franklin the $100.
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New Coin Honors Lost Soldiers of Fromelles
Royal Australian Mint
The Assistant Treasurer, Senator Nick Sherry, and the Minister for Veterans’ Affairs, Alan Griffin, have today announced the Royal Australian Mint will next month issue a collectible 20 cent coin commemorating Australia’s Lost Soldiers of Fromelles. “This coin is a continuation of the Mint’s Australia Remembers series, exploring our nation’s war experiences and military history behind and beyond the battlefields,” the Assistant Treasurer said. “The coin design is based on the Cobbers statue which stands in the Australian Memorial Park at Fromelles.” “The design features a circle enclosing an artist’s impression of the Cobbers statue and, to the right, the inscription ‘20′.”
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Brooklyn Artist Leaves Handmade Tokens for the Public
The New York Times
For more than 30 years now, sharp-eyed New Yorkers have been finding them on ledges, windowsills and store counters — poker-chip-size coins that reveal themselves to be something far more mysterious than loose change. The inch-wide ceramic discs, painted in iridescent colors, have the rough, weathered feel of ancient treasure. Each is embossed with a short, cryptic message, a year and two humble letters: “bw.” Those, it turns out, are the initials of Beriah Wall, a Brooklyn artist who estimates he has knocked out hundreds of thousands of these handmade tokens since the late 1970s, quietly dropping them in public places or the hands of bewildered strangers. His latest batch, minted over the last few months, carry the message “Stuck in Brkln.”
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Queueing for Coins in Latin America
Earth Times
In many Latin American cities it’s not unusual for long lines to form in front of banks before business hours. The people standing in the lines tend to be restaurant owners or street vendors who need small-denomination bills or coins to make change for customers of their businesses. They sometimes wait hours just to get a little bit of the precious currency. There aren’t a lot of these bills given over to the banks. When the vendors can’t get them, they have to ask their customers to pay in small bills or in coins. It creates demand, meaning people who have a surplus of small bills can do a good trade.
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Although not a coin collector, Robert McGough owned a coin that was meaningful to him. He had owned it all of his life. As an eight-month-old baby he visited his great-grandmother who was a practical nurse in the employ of an older lady, well into her 90s.

This woman was enamored with the smile and disposition of her caretaker’s great-grandchild. At the end of the visit, she gave to the baby a gold coin that she had been given as a young girl nearly 90 years before.

McGough’s grandmother and the woman who gifted him the coin both passed away when he was quite young. The coin sat tucked away for many years, and was seldom looked at. On those occasions when it was taken out, he remembers being told, “You got that as a baby,” and it was something that he owned his entire life.

Now 66, McGough sought to investigate the coin, as he was curious about its value. The coin was an 1805 five dollar gold piece, and it was not obvious how to determine its value. Just 33,183 were made, and there is a wide range in value depending on condition. But McGough’s primary concern was finding someone he could trust, because he didn’t know any dealers near him in Tennessee and didn’t want to be misled about the value of the coin.

Some Internet searching led him to dealer John Albanese, and a few phone conversations made him comfortable with him and the procedures for shipping the coin to Albanese with proper insurance.

After reviewing the coin, Albanese recommended having it certified so that it could realize its full market value. It was submitted to NGC, where it graded MS 63, putting it in the upper echelons of known examples. McGough could not have been a better steward for it. The coin is an attractive tan gold color and has a perfect original skin. It’s just some light abrasion and a few wispy lines that keep it from higher grade, and it is simply a wonderful choice uncirculated example.

While nothing has been decided, McGough comments that, “Getting the coin certified was a step toward selling the coin. It’s been a very good experience to get this accurate information.”