Director Moy Apologizes for Web Outage

Dave Harper, editor of Numismatic News, published a letter from US Mint Director Edmund Moy apologizing for the recent outage of the US Mint online catalog. The letter reads as follows:

To Our Valued Customers:

The United States Mint temporarily suspended its online catalog recently while we shifted our online ordering capability from one provider to another. We didn’t plan an interruption in service but, as the transition from one company to another took place, we realized that we couldn’t guarantee to our customers that our online ordering system was completely reliable until the new provider had enough time to take over operations and make them secure.

During the transition to new service providers, we know that many of you tried to log in to the United States Mint’s retail Web site and found a notice that the online catalog was unavailable. We also know that many of you called our toll-free Customer Service lines to place orders. Because of extremely high call volume, many customers were unable to get through or spent a long time waiting on hold. This is not the level of service that you deserve from the United States Mint and certainly not the kind of service that I want you to have.

I take full responsibility for the lapse in service and apologize to you for any inconvenience and frustration you experienced. I thank you for your patience while we improve our system of online operation. The United States Mint’s service mission is to create the highest quality products for the United States and our customers, and we are working to make this vision a reality. I truly regret service interruptions and will take measures to avoid them in the future.

Edmund C. Moy
Director
United States Mint

Although Director Moy has fallen on his sword for his staff, it does not excuse the situation. Nor does it change the opinions I wrote about on January 18. I am sure that the Mint will perform a root cause analysis into the problem. Unfortunately, we may never know what really happened. If the Mint is going to promote the online model, they will have to do better.

DC & Territories Own Program

While checking the US Mint website about the outage of the online catalog, I noticed that the D.C. & U.S. Territories Quarters will be treated as their own program. According to the program fact sheet, the new “program immediately follows the 50 State Quarters® Program, which ends in 2008.”

The D.C. & U.S. Territories Quarter program will feature six coins released in equal intervals during 2009. The Mint has set the order of release as: The District of Columbia, The Commonwealth of Puerto Rico, Guam, American Samoa, The United States Virgin Islands, and The Commonwealth of the Northern Mariana Islands. The design process will be run in the same manner as the Mint has run the 50 State Quarters program.

With the addition of the D.C. & U.S. Territories Quarter program, 2009 will also see the Native American $1 Coins and the redesign of the Lincoln Cent for the Lincoln Bicentennial. Although it is only January 2008, this makes it fun to anticipate 2009!

It’s Alive!

After eight days of outage and two product announcements, the US Mint on-line catalog is now working! The website went down on January 15, the same day that the Bald Eagle Commemorative Coin program goes on sale only to return in time for the sale of the 50 State Quarters Proof Set—available at noon today.

The Mint has not explained the reason for the outage. But considering how less than forthcoming they have been, they will be under the scrutiny of some form of oversight. Hopefully, this will be the last technical problem for the Mint for some time.

Learning About A Morgan Sketched Pattern

I came across a thread on the Collectors Society message boards about a slabbed medal whose design was based on a sketch by US Mint engraver and artist George T. Morgan. The sketch was found by researchers in 2002 at the Smithsonian Institute. It was buried in the pages of a sketchbook Morgan used to draw design ideas. This sketch was an 1876 idea for the grandest of all coins, a coin with such a high denomination that the design had to be the most beautiful ever proposed. It was the design for a $100 Union gold coin.

There appears to be very little written about the coin or why Morgan sketched the design. In 2005, the Smithsonian entered into a deal with the New York Mint to strike private issue gold and silver proof medals based on the design. The New York Mint struck 999 one-ounce gold proof medals, had them certified by NGC, and housed them in a cherry-wood box whose cover has a replica the original Morgan sketch. These medals are sold out. The New York Mint continues to sell a 1½-ounce silver proof coin also certified by NGC issued in a velvet pouch.

Morgan’s design features Miss Liberty, sitting on what appears to be bales of cotton, next to stalks of wheat, on the banks of a river with the mountains in the background. She is holding an olive branch in her left hand and a caduceus on a long staff in her right. Although we think of the caduceus as a medical symbol, it has a history dating back to ancient Greece as an astrological symbol of commerce and attributed to Hermes. It was a symbol to show the Greek authority over trading (the long staff) with the strength to enforce its authority (the wings), with the wisdom to not abuse its power (the snakes). The symbolism is interesting given the history of its use.

Snakes, or serpents, have a long history of being symbols for deceit or other negative symbols. But in ancient Greece, the serpents were a symbol of wisdom and even strength that would inspire the thinkers of the time. Since wisdom can have differing views, two snakes were used to symbolize the balance achieved by considering opposing forces. Interestingly, the Rod of Asclepius was the symbol of healing used by Asclepius, the son of Apollo, and uses one snake to symbolize rebirth—as the snake sheds and re-grows its skin—and fertility.

In later years, the Pagans were known to be fascinated by the mysticism of snakes. Pagan leaders liked to control the masses and adopted the snakes as a sinister representation of wisdom. The practice lead to snakes becoming a representation of the mystics whose faux wisdom was used to empower the animal’s handlers. The handlers would train the snakes to attack on command, which were used as threats to those who would not believe. When the crusades were fought against the Pagans, snake handlers would use their skills to attack Christian soldiers. As the Pagans were defeated and converted to Catholicism, papal edicts banned the use of snakes in all religious ceremonies and symbols. Even though the church had compromised with Pagans and many others to facilitate conversion, the church was adamant about not allowing snakes as part of any religious ceremonies.

When Morgan arrived in the United States from his native Great Britain in 1876, the dominant design on US coinage was seen on the Seated Liberty coins and the Trade Dollar. The Seated Liberty design appears to be based on Britannia with American symbols. Britannia is an allegorical symbol of Great Britain who holds a trident proclaiming her superiority of the sea and a shield emblazoned with the Union Jack saying she is ready to defend her homeland. Britannia is usually depicted wearing a helmet and near the sea. For the Seated Liberty design, the allegorical symbol for Liberty replaces Britannia, a version of the US flag is shaped as a shield showing defense of the new nation, and the trident replaced by the phrygian cap (sometimes called the Liberty Cap) on a pole that is considered a protest symbol as being pro liberty.

It can be speculated that a grand coin, such as a $100 issue, would require a design worthy of the country’s first one hundred years and the growth being seen in recent memory. Morgan may have looked at the phrygian cap and thought that the protest should be over, especially since the United States and Great Britain had normalized relations. Morgan may have thought that the caduceus would represent the new strength of the nation: commerce, after the Transcontinental Express traveled from New York to San Francisco in just over 83 hours. Morgan borrowed the bales of hay and stalks of wheat from the Trade Dollar and placed Miss Liberty on the banks of a river to represent the trading routes offered through the country.

Using the caduceus was an interesting symbolic choice. It has both noble and ignoble meanings throughout history. On one hand, it is a positive symbol of commerce. On the other hand, it is a symbol of deceit in a time when the election of Rutherford B. Hayes as the 19th President and the corruption represented by the political machine of Tammany Hall dominated the headlines. Although the concept for the coin never made it beyond Morgan’s sketch, it can be speculated that the Christians of the time may have objected to its use.

We may never know why George Morgan sketched this pattern or the symbolism he was trying to capture. But given what we know about the symbols, it shows Morgan’s talent for classic design. One can only wonder what our coin designs might have been had his presence was not resented by William and Charles Barber.

Image courtesy of user bsshog40 from the Collectors Society message boards.

Dahlonega Gold Safe From Conspiracy

It was reported on the website AccessNorthGa.com that police was able to stop a conspiracy to steal coins from the Dahlonega Gold Museum. It began when museum staff was tipped off by an anonymous caller on Christmas Eve. Officials then contacted one of the alleged co-conspirators who supposedly visited the museum and researched the value of the coins.

“We put them on notice that we knew about the conspiracy and none of the coins would be stolen,” Lumpkin County Sheriff Mark McClure said. And, “We would be definitely looking to charge individuals if that did occur.”

Details about the conspiracy was provided to the Numismatic Crime Information Center, an organization that maintains a database and provides information to law enforcement about numismatic crimes.

The Mint’s Web Crash

As the US Mint was to begin selling the Bald Eagle Commemorative Coins, the Mint announced that their online catalog is out of service. According to the Mint, they suspended service on the web “due to an unanticipated transition in online ordering operations.” On Friday, January 18, the Mint announced that they would be working through the weekend to restore service.

While the Mint’s catalog site is down, customers can place and check orders via their toll-free telephone line 1-800-USA-MINT (872-6468) from 8:00 a.m. through midnight (ET) daily. Hearing- and speech-impaired customers may place orders and inquiries through TTY at 1-888-321-MINT (6468), Monday through Friday from 8:30 a.m. to 5:00 p.m. (ET).

When I am not writing about or collecting coins, I work for a non-profit company that helps the federal government with their information technology challenges. Although my specialty is information security, my background includes time as a project manager. Experience has taught me that when dealing with systems that are significant to an organization’s mission, transition plans must be in place to prevent these types of outages. At the very least, ensure the transition is completed before expecting significant usage—such as at the time when a new product is released!

I do not know what the caused this outage. But in my experience in working with the government, the cause is manifested from bad planning and the surprise oh… that should not have happened moment. After the US Mint and the Department of the Treasury is under significant scrutiny by congressional oversight, one would hope they would do better.

Pocket Change Is Still Fun

Many collectors are cherrypickers. We search change, dealer junk boxes, and other places for bargains. Then there are those hardcore cherrypickers who look for slight errors, die varieties, and other subtle features missed by the casual onlooker. I am not a hardcore cherrypicker. But I do search pocket change to see what I find.

After returning home from dealing with family business, my wife left a sandwich bag full of change and later told me she needed soda money. That means pick out the quarters, see if there is anything interesting, and fill up the quarter tube so she can buy her daily Coca-Cola. I started picking out the quarters and one caught my eye. It was worn but it had a distinct color. I dropped the coins on the desk and heard a distinct “ting.” It was the sound of days gone by. It was the sound of a silver quarter!

Somewhere, my wife received a 1964 Washington Quarter in change. If I was to have it grade, it would probably be slabbed in Extra Fine condition. There is some slight luster and it shows the signs of once being in someone’s collection. According to coinflation.com, the coin is worth about $2.85 in metals (as I type this), which is probably more than its numismatic value. But that does not matter… it was fun to find!!

Worrying About Prices

An old Chinese proverb (or curse) says “May you live in interesting times.” When looking at the various conditions that make up the numismatic world, these times are certainly interesting.

The big news of the week, the price of gold hit the $900 per ounce level before backing off and closing at just under $895. Quietly, the price of silver has hit historical highs, closing at $16.23. Regardless of a coin’s numismatic value, the metal values drives up the price of coins. So if you had a roll of circulated Jefferson War Nickels, those coins contain $36.53 of silver and a total of $37.39 in its total melt value. Your old hoards may now be worth something!


While rising metal values are exciting as a story, I have written about what it could mean in other areas of investments and in the economy. For numismatics, that means all prices will go up at least proportional to the rise in the price of metals. Even those early gold coins that are considered “common” whose price is tied to the value of the metals will now see a rise in price. I wish I had started watching the pricing trends with Saint Gaudens Double Eagles as the market was rising. In addition to their numismatic value, the common price of lower grade coins are over $1,000.

As I write this, the Florida United Numismatics (FUN) Show is underway in Orlando, Florida. FUN is always the first show of the year. With the current state of the economy, the rising prices, and the weakening of the US dollar, it will be interesting to hear the stories from the bourse floor—the guys and gals in the trenches. I hope they report that it is still a good market!

Off And Running

Happy 2008 from me and your US Mint. For this year, I will continue to write about what interests me and the US Mint is trying to adjust to an every increasing set of product offerings. I also want to give a shout out to the Bureau of Engraving and Printing for jumping on the new product bandwagon. So let’s first take look at the Mint.

With a price increase of $2, the US Mint began sales of the American Silver Eagle Proof coin on January 3. US law prevents the US Mint cannot from selling or distributing coins with a future date, but it does not prevent them from striking the coins in preparation. So these coins are being shipped as they are sold. I believe that is the earliest in the year that the Mint has delivered a current year coin.

You can order the Bald Eagle Commemorative coins beginning on January 15. The Bald Eagle Commemorative will have three different designs on a $5 gold coin, silver dollar, and clad half-dollar. Coins will be available as Proof and Uncirculated coins that can be purchased individually, as a three coin proof set, a “Young Collector’s Set” with an uncirculated half-dollar and other educational material, and a coin & medal set featuring an uncirculated silver dollar and a bronze Bald Eagle Medal from the National Wildlife Refuge System Centennial Medal Series. See the Mint’s announcement for complete list of products, mintage limits, and prices.

Sales of bags and rolls of 2008 Kennedy Half-Dollars and Sacagawea Dollars will begin on January 17. These coins will not see circulation because there is no demand for them. But since the Mint is legally required to strike these coins, they will be offered to collectors.

Sales of the 50 State Quarters usually begins earlier than other proof sets. So get ready for the last of the 50 state proof coins on January 24. The program has been extended one year to include the District of Columbia and the five territories of the United States.

Not to be out done, the BEP is selling the second issue of the Americana Series with the release of the intaglio print for the 53rd Florida United Numismatics (FUN) show in Orlando this weekend.

Also released on January 10 are the 2004 $20 Single Note for the federal reserve districs of Atlanta, Boston, New York, and Philadelphia. The notes in this set are those with the lowest possible serial numbers that are packaged in an archival sleve placed in a folder representing the federal reserve district. Each folder is $45 and the entire 12 note series can be bought as a subscription for $479.95.

Taking their cue from their friends at the US Mint, BEP “is excited to celebrate the year 2008 by offering the 2008 $2 Single Note.” This product is a Series 2003A Federal Reserve Note from the Atlanta federal reserve district with the serial number beginning with “2008.” Since the serial number is eight digits followed by the letter designating the federal reserve district, there will only be 10,000 notes for this product (20080000D through 20089999D). Each folder will cost $7.95. There is no indication that this type of collectible will be extended to other federal reserve districts.

Maybe the other notes whose serial number beginning with 2008 will be used for BEP’s Prosperity Line collection. The Prosperity Note Line features serial numbers beginning with 168 or 8888 which are significant in Chinese symbolism. On January 17, BEP will release the $2 Double Lucky Money Set. The set features two uncirculated $2 Federal Reserve notes. The serial number of one note will begin with “8888,” to symbolize good fortune, and “2008,” to commemorate the New Year. Both notes will feature serial numbers with matching last four digits. When released, the set will cost $48.88.

All this being introduced in January—with eleven months to go! Happy Collecting!

WARNING ABOUT FAKE SLABS

Numismatic Guarantee Corporation (NGC) posted a message on its website (and in PDF) warning about counterfeit NGC slabs being on popular on line auctions sites from overseas. NGC’s message points out checking the serial number of the slab is not enough since the counterfeiter is matching the number with the coin information from NGC. There are subtle differences in the label that requires careful inspection rather than a passing glance.

Images of the fake NGC and ANACS slabs was posted by UtahCoin on the Collectors Universe forms then posted on the Collectors Society forums. It has been a hot discussion item since. It is important to note that only the old ANACS slabs were counterfeited, not the new Clearview holders.

No comment was made by ANACS. In fact, no news has come from ANACS since the official announcement of their sale to James Taylor.

UPDATED: As part of the announcement, NGC disclosed that they will be introducing a new holder sometime during 2008. The new holder will have new anti-counterfeiting mechanisms that addresses many of the issues found in this incident.

User braddick on the Collectors Society forums found images of a slab from a Chinese company resembling those used by the Professional Coin Grading Service (PCGS). It is speculated that it will be a matter of time before fake PCGS slabs are offered for sale.

Although it is not proper to stereotype, recent record of China-based sellers has demonstrated a great majority of rare, key, and semi-key date coins are either fake or significantly altered to look better to the detriment of their numismatic value. It highlights the axiom, “if it looks too good to be true, it probably is not true!”

Caveat emptor.

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