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Coin Rarities & Related Topics: The June 2011 Baltimore Auction, part 1, copper and silver – Greg Reynolds
In my columns of April 6th and of April 13th, I wrote about the first auction by the recently formed Spectrum-Stack’s-Bowers-ANR entity. In my column on The Ten Leading Topics of 2010, I discussed the merger that brought this entity about.
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Legend Coin Market Report: Generic Gold Is In Serious Trouble – Laura Sperber
We have wrestled with how to break this news. Unlike so many other dealers who are in denial, want to tell you about their lunch, do not believe in speaking negative on the market, we are straight people who are going to tell you like it is.
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The Upcoming ANA Coin Show And Bourse Etiquette – Richard Schwary
I just finished with the June 2011 copy of The Numismatist, which is the 120th Anniversary Convention Issue, and contains all the important information about the upcoming ANA World’s Fair of Money held August 16-20th of 2011 at the Donald E. Stephens Convention Center in Chicago.
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Coin Collecting: How Much Do You Have to Pay to Play? – Doug Winter
I get calls from potential new gold coin collectors nearly every day. Some of them have spent a good deal of time researching the gold coin market and have a good idea what the coins that they may be buying will cost.
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Long-Term Coin Market Trends are Evolving – Mark Ferguson
To see where the coin market is headed into the future it’s often helpful to look back at how it’s evolved over time. When we look back at the coin market over several decades we see distinct market trends that have occurred during various time periods.
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The Coin Analyst: Inaugural Column – Louis Golino
This is the first article in a new regular column for Coin Week that will discuss issues and trends in U.S. and world coins. My goal is to keep readers informed about major developments and to provide suggestions for ways to get the most out of your hobby.
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David Hall’s $10 Lib Gold Coin Collection Sold for $4 Million to Legend Numismatics
Legend Numismatics (www.LegendCoin.com) of Lincroft, New Jersey, representing collector Bob R. Simpson of Fort Worth, Texas, has purchased the complete set of $10 Liberty Head gold pieces assembled by Professional Coin Grading Service (www.PCGS.com) Founder David Hall. The transaction is valued at $4 million, according to Laura Sperber, Legend President.
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The Magnolia Collection of Early U.S. Gold Coins, late 19th century Patterns, Trade Dollars and more! – Greg Reynolds
Without a lot of fanfare, Proof gold coins have become a strong area of the market. In this blog, I’d like to postulate as to why Proof gold coins have become so avidly desired, which Proof coins are currently in greatest demand and what the short-term outlook is for Proof gold.
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Coin Market: Are Generic US Silver Coins in a Bubble? – Laura Sperber
If you are a gold bug or someone who believes silver will go well beyond $50.00-do NOT pay attention to this message. This message is solely the opinion of Legend Numismatics and other dealers may not agree.
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CSNS Platinum Night U.S. Coin Auction Results Soar To Nearly $14 Million
Rare gold was the order of the night as Thursday’s Platinum Night festivities at the 2011 April Rosemont CSNS Signature & Platinum Night US Coin Auction rose to nearly $14 million in total sales. Overall proceeds from this auction are expected to approach $24 million.
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Is There a Price Relationship Between Gold Bullion and Rare Gold Coins? – Greg Reynolds
I have been asked why markets in rare or very scarce U.S. gold coins have not dramatically increased as the value of gold bullion (the price of the metal itself) has soared over the past year and has reached record highs, above $1500 per ounce! One sophisticated collector-dealer is puzzled that rare coin prices have not even returned to levels that prevailed during the incredibly hot period from 2006 to the middle of 2008.
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Coin Terminology: Is it a Widget? – Doug Winter
One of the newer catch-all coin terms that’s been making the rounds is “widget.” This is a derogatory term meaning a coin that is common, boring, and lacking in character. I would primarily characterize a widget as something that is generic in nature. No one goes out and says “I’m putting together a collection of widgets,” but then again, the definition of this term seems a bit vague to me.
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What is a Fresh Coin? – Doug Winter
I was recently having a numismatic conversation with someone about an auction (sad life, I know…) and the subject of “fresh coins” came up. This person is knowledgeable and I respect his opinion. And after three minutes of discussion, I realized that his view of freshness and mine were different. But then I got to thinking, “What is a fresh coin? Are there varying degrees of freshness? Can an ugly coin be fresh?”
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The Advertising of ‘Choice’ or ‘Gem’ Uncertified Coins – Greg Reynolds
While I often write about topics of interest to knowledgeable collectors, today’s column is aimed at beginners and at other collectors who buy “Choice” or “Gem Uncirculated” uncertified coins. I am concerned that some advertisers in widely read ‘print’ coin publications are selling uncertified coins as ‘Choice’ (implied or thought to be MS-63 or higher), Very Choice (thought to grade MS-64), or Gem Uncirculated (thought to be MS-65 or higher) that do NOT come close to qualifying for such grades.
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Prices Soar As Chinese Coins Reach Fever Pitch
Baldwin’s auction department had a lot to celebrate last Thursday night after the outstanding success of the Hong Kong Coin Auction 50 and the very first Hong Kong Watch Auction. Auction lots were selling for up to 30 times estimate as prices soared for the array of outstanding rarities on offer. The dynamic Baldwin/Ma Tak Wo collaboration achieved an impressive sale total of US$5,468,403, more than double the pre-sale estimate. The sale took a staggering 14 hours to complete as bidders in the room and online battled it out, forcing prices through the roof.
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Fed’s printing press likely to boost bullion through June.
Gold charged out of the gates Monday with a new nominal high of $1,478 on concerns about Japan, Libya, and European debt, followed by expected profit taking. Prices Thursday hit $1,475, aided by bad U.S. jobs data, inflationary signs, and predictions the Federal Reserve will finish its quantitative-easing plan.
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The State of the Dahlonega Gold Coin Market, 2011 – Doug Winter
I published the second edition of my book on Dahlonega gold coinage in 2003. A lot of time has passed since then and, as part of the upcoming third edition, I’m going to be including a chapter in the new work that is a sort of State of the Union of the Dahlonega market for 2011. As you are likely someone who is interested in these coins and who is a loyal follower of raregoldcoins.com I’d like to share my thoughts with you.
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The First Stack’s-Bowers Auction, Part 2, Gold Coins – Greg Reynolds
As I reported last week, the first live auction conducted by the new Spectrum-Stack’s-Bowers entity was held in Baltimore at the end of March and the beginning of April. In last week’s column, I discussed copper and silver coins in the auction. The topic this week is U.S. gold coins. These were auctioned on April 1st. For those who are generally puzzled by coin auctions and prices realized, please see my recent column on the meaning of auction prices. The gold coins in this auction seemed to have come from a large number of consignors and I am not focusing upon any one collection.
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Gold Coins With “MLD” – Multiple Levels of Demand – Doug Winter
In my 25+ years of specializing in United States gold coins, I have noticed some interesting trends as far as collector preference goes. One of these preferences is what I call “multiple levels of demand” or MLD.
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Here are some of our featured articles you can find on CoinWeek!

US Mint Taken to Task for Outsourcing Bullion Blanks and Attitude
Four witnesses testifying before House Committee on Financial Services Subcommittee on Domestic Monetary Policy and Technology agreed that the US MINT loses at least one third of their bullion coin sales because they cannot meet demand.
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How Proof Gold Coins Are Graded Differently Than Business Strikes – Doug Winter
In order to fully grasp the topic of this blog, there are a few concepts that I’d like to introduce. The first is the mistaken concept that “Proof” refers to a grade. Proof is actually a method of manufacture that entails striking coins with care on specially polished planchets and often using multiple blows of the dies. Proofs are made in limited quantity and are produced by the Mint for collectors. Business strikes, on the other hand, are not afforded any special care or striking and they are produced for circulation with little thought regarding their appearance or quality.
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The First Stack’s-Bowers Auction, Part 1, Copper and Silver – Greg Reynolds
As I reported in my column on The Ten Leading Topics of 2010, the West Coast auction firm of B&M, a subsidiary of Spectrum, merged with Stack’s, an East Coast coin firm. Spectrum, a Fortune 500 company, owns 51% of the combined entity and the former shareholders of Stack’s-ANR own 49%. Most of this 49% share is held by a family that has a publishing empire in the South, including Whitman.
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Islamic Coin Sells For £3.7 Million In Morton & Eden Sale – Second Most Expensive Coin Ever Sold at Auction
One of the rarest and most highly-prized of all Islamic gold coins, struck possibly to coincide with an occasion when the Caliph himself led the Hajj pilgrimage to Mecca, sold for a record £3.7 million ($6.029,400 US) in a sale at specialist auctioneers Morton & Eden in London today. The price makes it the second most expensive coin ever auctioned. (The most expensive is the 1933 Double Eagle sold by Sotheby’s in July 2002 for $7,590,020).
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Gold Silver PAC Reception at Baltimore Expo
The Gold & Silver PAC held a reception honoring Congressman Lamar Smith Republican, 21st Congressional District of Texas: Chairman, House Judiciary Committee, Member of the House Homeland Security Committee and Member of the House Science Committee.
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Class-action suit accuses UBS of Charging Storage Fees On “Phantom” Silver.
In 1984, Michigan resident Laurin Ramsey purchased 10 pieces of 100 ounce pure silver bars from the Swiss bank UBS or its Paine Webber subsidiary. Ever since, he had paid $25 per month for storage fees. A few years ago, he tired of paying the storage fees and contacted the bank to arrange delivery.
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The Spring Baltimore Coin Show Market Report – Laura Sperber
Might sound s little extreme, but we can not say enough positives about the people who put on the Baltimore Show. Mary Counts, David Chrenshaw, Lori Hamrick, etc all do such a heroic job, they deserve to be nominated for the Nobel Prize!
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Here are the latest featured articles on CoinWeek:

How the Internet Has Changed Rare Coin Auctions – Doug Winter
In my last blog, I discussed ways how the internet has impacted the concept of eye appeal when it comes to coins. Continuing this internet-related theme, I’d like to focus on how the web has impacted rare coin auctions.
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The Spectacular Nevada Accumulation and the Morelan Collection of Type Coins – Greg Reynolds
It has already been reported that the PCGS certified ‘Specimen-65′ Naftzger-Parrino 1793 Chain Cent, with AMERI. on the reverse (back), was acquired by Bruce Morelan, who is a leading collector and a minority shareholder in Legend Numismatics. This large cent, though, was just one part of an accumulation of gem quality type coins.
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Details on Legend Numismatics Coin Deal of the Decade – Laura Sperber

We are still in shock. After going just about a full year with no big fresh coin deals other than in auctions (we consider the Sonnier Colored Morgans the last truly FRESH deal we purchased), here comes this monster deal out of no where.
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Eye Appeal of Coins in the Age of the Internet – Doug Winter

I’ve recently read articles on other websites about how the coin market has changed in the last few decades. Surprisingly, few of these articles mentioned the internet; the single biggest game-changer of the past decade, certainly, and along with third-party grading probably the most important development with numismatic applications since the 1950′s.
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Legend Numismatics Completes Major Acquisition

Legend Numismatics of Lincroft, New Jersey is pleased to announce the purchase of a world-class partial Type set that has been off the market for many years. This set contains a number of spectacular rarities in superb condition. Included in the set is the famous Mickley 1793 AMERI. Chain cent in PCGS Specimen 65. This is the finest AMERI. Chain cent ever graded by PCGS and is valued at over $2 million.
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Coin Rarities & Related Topics: Super Premiums for Common Silver Dollars with Attractive Toning – Greg Reynolds
In the recent auction in Sacramento, two 1881-S Morgan Dollars with eye-catching toning realized sums that caught my attention. While the prices realized for these two silver dollars are not huge in the realm of auctions, these two brought super premiums over the market values of relatively untoned coins of the same date, type and certified grade.
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1796 Half Dollar Leads $9.68 million Sacramento Coin Auction
It was a 1796 Half Dollar, 15 Stars AU58 PCGS, a stunning coin featuring one of the rarest designs in all of U.S. coinage, that emerged from spirited bidding as the top lot in Heritage Auctions’ March 17-20 Signature® ANA U.S. Coin Auction, with a final price realized of $207,000. The auction realized more than $9.682 million, all told, not counting continuing After Auction sales. All prices include 15% Buyer’s Premium.
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The Sacramento ANA Show
Any locale where it takes a change of planes to get to will not draw the major dealers. You can also bet it won’t draw the crowds of buyers either. That’s exactly what happened at Sacramento. The results sadly were as excepted for us (and others): VERY disappointing. For sure a huge segment of dealers elected not to attend. The majority of East Coast dealers also stayed away because the Baltimore Show is 2 weeks away.
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Coin Profile: Proof 1836 50/00 Capped Bust Half Dollar
Writing in the 1989 edition of his encyclopedia of U.S. and Colonial proof coins, the late Walter Breen accounts for four die marriages of the proof 1836 Lettered Edge Capped Bust Half Dollar. Of the four varieties, two are of perhaps the greatest interest to advanced Bust Half Dollar enthusiasts: the 1836/1336 O-108, and this coin,the 50/00 O-116 blundered reverse.
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8-Pound California Gold Nugget Sells for $460K at Holabird-Kagin Americana Auction
The LARGEST CALIFORNIA GOLD RUSH NUGGET left in existence, the 100 troy ounce gold nugget discovered last year in Nevada County, California, was sold at auction by Holabird-Kagin Americana on March 16th in Sacramento for $460,000.
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BBB Warns Austin-Based Coin Firms Ads May Be Peddling ‘Fool’s Gold’
Consumers nationwide should be on the alert for advertisements from two Texas-based companies that are using newspapers to sell gold bullion coins “completely free of dealer mark-up,” Better Business Bureau (BBB) warns. The companies appear to be using the ads to entice consumers to buy more expensive “collector coins” at prices significantly higher than they could be bought elsewhere.
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Coin Rarities & Related Topics: Changes in Demand for Rare U.S. Coins So Far in 2011
After discussing the motivations and strategies of bidders at coin auctions last week, and the meaning of auction prices in general, I am directing attention to current coin markets overall. I have posed questions to and debated many dealers, some of whom do not wish to be quoted, regarding price changes and demand for rare coins in 2011.
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Visit our NEW SITE at www.CoinWeek.com

In an exclusive partnership, David Lisot of CoinTelevision.com and Scott Purvis of CoinLink have merging to create a new website called CoinWeek.com

The NEW site will offer the same great online rare coin news covering all areas of the numismatic hobby, but we will be adding New Video content with industry leaders and prominent collectors featured in VIDEO segments, interviews and articles contributed by numismatic experts.

Major sections of the site include:

• CoinWeek  Rare Coin and Currency News

• CoinWeek US and Canadian Directory

• CoinWeek United Kingdom Directory

• CoinWeek European Directory

• CoinWeek Australian Directory

• CoinWeek Video Library

Coverage will highlight all the major coin conventions including auctions and market reports with a focus on delivering the most current and unbiased information for both new and advanced collectors.

We are in the process of converting over the 6000+ existing articles presently offered on CoinLink, and until this is completed, CoinLnk Will Remain On-line for archival purposes.

ALL NEW Articles and News will now appear on CoinWeek

We are also happy to announce that CoinWeek is introducing a NEW Dealer Directory, in fact 4 new directories, One for the US and Canada, One for the UK, One for Europe and One for Australia. We have over 5200 listed Web sites and numismatic resources available.

We also have a NEW Events Calendar which will be listing virtually ALL rare coin shows and Auctions worldwide.

Finally we are most proud to offer the CoinWeek Video Library. This is a subscription based Video Archive which will draw from over 1000 video titles produced by David Lisot of Coin Television.

Presently we have over 100 hours of video content, and we will be adding in 40-50 hours of NEW content each month

For the past 25 years, David has been producing numismatic Video content of Seminars, Presentation and educational material, and the New CoinWeek Video Library will be presenting this unique and important content to our subscribers.

Content includes Interviews with historic numismatic figures such as Walter Breen, Aubrey Bebee, Q David Bowers and Eric Newman, along with the best educational presentation ever produced. This material is NOT Available anywhere else on the web, and will be a major resource for collectors of all interests.

We invite you to Visit our New site, send us comments and become part of the largest and most comprehensive online rare coin news and resource site.

Greg Reynolds gives the ten leading topics of 2010. “This is my last column of the year 2010. It seems appropriate to list the ten leading topics of the year, starting with number ten.”

Steve Roach asks, “are rare coins investments?” in his blog. “Are rare coins an investment class? They are according to the Wall Street Journal.”

PMG will begin use of a new generation holder on January 3, 2011. All notes encapsulated after that date by PMG will automatically be placed in the new holder. Additionally, the new holder will be used for on-site grading during the Florida United Numismatists (FUN) convention in January.

Laura Sperber gives her opinions and predictions on the 2011 year for coins. “Consolidation in reverse! I expected a few firms to fold and smaller dealers to shut. Out of the blue comes the mega merger of Stacks and Bowers and Merena.”

Vic Bozarth gives advice on how to build a meaningful set of U.S. coins. “During the holiday season I often reflect on the many blessings I have in my life. One of those blessings is the joy I receive from handling and looking at rare coins. In fact, I love my job. I get to look at coins virtually every day as a coin dealer.”

Doug Winter writes on the proof-only double eagles dated 1883, 1884 and 1887. “Continuing my fascination with Proof-only issues, I’d like to discuss the rare Proof-only double eagles dated 1883, 1884 and 1887.”

Heritage Auctions has announced that we will be auctioning The Dr. Norman Jacobs Collection of Korean and Japanese Coins, the most important collection of its kind, from one of the most famous Asian numismatic experts to have lived. This collection will be featured in our September 2011 Long Beach Signature Auction.

NEW & UPDATED – Our coverage of rare coin and currency news has expanded with Austin Purvis taking over as Editor of Coin News Daily. This is a special section of CoinLink where we scour the web for items of interest related to numismatics and post a short excerpt and link to these “off site” resources.

We have also made changes to The Bullion Report with daily news and article updates, and a monthly analysis of the “Premiums Over Spot” for Gold and Silver Bullion products.

View all the latest rare coin news here

Spectrum Group International, Inc. (SPGZ.PK) announced today that its subsidiary Bowers and Merena Auctions, one of the world’s pre-eminent auctioneers of rare coins and currency, has entered into an agreement with Stack’s, the oldest rare coin retail and auction company in the U.S., to combine their operations.

In his weekly column, Greg Reynolds discusses topics that include the FUN auctions and the Henry Miller collection.

Odyssey Marine Exploration, Inc. (NasdaqCM: OMEX) a pioneer in the field of deep ocean exploration, was named in several U.S. State Department cables obtained by WikiLeaks and furnished to the media worldwide.

Director of the United States Mint Edmund C. Moy announced today that he has submitted his resignation to President Barack Obama, effective January 9, 2011.

Bowers and Merena, one of the world’s preeminent auctioneers for rare coins and currency, will conduct the January Rarities Sale as its first event of 2011. The single-session sale on Jan. 4 at the Grand Hyatt Tampa Bay will offer nearly 1,700 lots of rare and desirable United State and Colonial-era coinage.

Coin profile on the unique 1834 original half dollar. “Only a few proof 1834 half dollars are known, mostly restrikes from the dies used to produce the Crushed Lettered Edge coins.”

Two rare early proof sets and a remarkable set of six pattern coins associated with the famous “Stella” coinage experiment are important collective highlights of Heritage’s Tampa FUN Platinum Night U.S. Coin Auction, Thursday, Jan. 6, 2011.

Doug Winter writes: The presence of a number of important Type Three Proof Liberty Head double eagles in the upcoming 2011 FUN auction got me to thinking about . What are these coins, why are they important and do they deserve the market premiums they enjoy?

Steve Roach on the FUN auction: For the past few years, arguably the main annual event for the rare coin market has been the massive Heritage auctions at the Florida United Numismatists convention, a major coin show that will take place during the first week of the new year in Tampa Jan. 6 to 9.

Ponterio & Associates, a division of Bowers and Merena Auctions, is pleased to present the January 2011 N.Y.I.N.C. Auction at the Waldorf Astoria in New York on Jan. 7-8. The auction will feature 2,558 lots including Part I of the Len Novotny Collection of Mexican Coinage, the Michael Demling Collection of Ancient Coinage, David Ian Wright Collection of Italian Banknotes and a superb selection of Fussli specimens.

The world-famous Medallic Art Company announced today a new web site, www.medallic.com , designed to better display its 100+ years of minting excellence and to provide ready access for customers and art historians to numerous product categories, galleries, and historic slide presentations and custom minting information.

NGC has certified a very interesting group of Saint-Gaudens Double Eagles that have remained in the possession of a family since prior to World War II. When purchased in Europe last month, their unusual history was revealed to the buyer.

NEW & UPDATED – Our coverage of rare coin and currency news has expanded with Austin Purvis taking over as Editor of Coin News Daily. This is a special section of CoinLink where we scour the web for items of interest related to numismatics and post a short excerpt and link to these “off site” resources.

We have also made changes to The Bullion Report with daily news and article updates, and a monthly analysis of the “Premiums Over Spot” for Gold and Silver Bullion products.

View all the latest rare coin news here

Over 300 anxious bidders filled the live auction floor for the highly anticipated sale of the Wa She Wong Collection and other Asian Coins on Dec. 3-4. The Hong Kong auction, presented by Ponterio & Associates, a division of Bowers and Merena Auctions, featured 1,107 lots with total sales reaching $10.7 million.

A coin profile on the 1804 Bust Quarter. “Colonel Edward Howland Robinson Green (better known as Col. E.H.R. Green or, more simply, Col. Green), was the son of Henrietta Howland Robinson Green, née Henrietta Howland Robinson (1834-1916). She, too, is known more simply as Hetty Green, and even more familiarly as the ‘Witch of Wall Street.’”

As the profile of Heritage Auctions’ World & Ancient Coins category has continued to skyrocket over the last few years, each consecutive offering has raised the bar significantly. With the Jan. 3-4 New York Signature World & Ancient Coin Auction at the Waldorf Astoria, coinciding with the New York International Coin Show (NYINC), Heritage has not only assembled its largest World Coin auction to date, it has also once again raised the bar in terms of absolute quality.

Laura Sperber gives her opinions on the 2010 year in the coin collecting world. “What a year it was. We saw gold hit a new record and the stock market made a semi come back. The coin market had what I would call a turbulent but productive year. Prices did not go up as much as good coins weren’t being drowned by dreck anymore. There actually has been a small influx of new collectors.”

Coinlink article: Wikileaks Reveals State Dept Deal with Spain in Black Swan Treasure Lawsuit. “For years, Odyssey Marine has been in litigation with the Spanish government over a 17 tons of gold and silver coins that Odyssey discovered from “The Black Swan”.”

NEW & UPDATED – Our coverage of rare coin and currency news has expanded with Austin Purvis taking over as Editor of Coin News Daily. This is a special section of CoinLink where we scour the web for items of interest related to numismatics and post a short excerpt and link to these “off site” resources.

We have also made changes to The Bullion Report with daily news and article updates, and a monthly analysis of the “Premiums Over Spot” for Gold and Silver Bullion products.

View all the latest rare coin news here