David J. Ryder

Earlier this week, the White House announced the nomination of David J. Ryder to be next Director of the U.S. Mint. If the name sounds familiar it is because Ryder served as the 34th Mint Director from September 1992 through November 1993 after being nominated by President George H.W. Bush.

Ryder’s biography in the President’s announcement was as follows:

David J. Ryder of New Jersey to be Director of the United States Mint. Mr. Ryder served as manager and managing director of currency for Honeywell Authentication Technologies. Previously, Mr. Ryder served as CEO of Secure Products Corporation, which was acquired by Honeywell in 2007. In 1991, Mr. Ryder was nominated by President George H.W. Bush and confirmed by the U.S. Senate to serve as Director of the U.S. Mint. His prior government service also included Deputy Treasurer of the United States, Assistant to the Vice President and Deputy Chief of Staff to Vice President Daniel Quayle. Mr. Ryder was born in Billings, Montana and raised in Boise, Idaho. A graduate of Boise State University, Mr. Ryder is married with two children.

The U.S. Mint has not had a permanent director since Edmund Moy resigned in January 2011. Since Moy’s departure there have been a series of Deputy Directors fulfilling the Director’s role including Rhett Jeppson, who was the last nomination not to be considered by the U.S. Senate. Although the Senate Committee on Banking, Housing and Urban Affairs did held a hearing on Jeppson’s nomination, they failed to bring the nomination to the floor for a vote.

If Ryder’s nomination is confirmed, he will be the 39th Director of the U.S. Mint and the only person to hold the job for two non-consecutive terms.

PN1082: David J. Ryder — Department of the Treasury
Date Received from President: October 5, 2017
Summary: David J. Ryder, of New Jersey, to be Director of the Mint for a term of five years, vice Edmund C. Moy, resigned.
Received in the Senate and referred to the Committee on Banking, Housing, and Urban Affairs. — Oct 5, 2017
This nomination can be tracked at http://bit.ly/115-PN1082.

Now for the news…

 October 2, 2017

An amateur historian from Devon digging in a farmer's field has told how he found a once-in-a-lifetime hoard of 2000-year-old Roman silver coins – worth up to £200,000. Mike Smale, 35, found the hoard of 600 rare denarii in a farmer's field in Bridport while hunting with his pals from the Southern Detectorists club. → Read more at devonlive.com

 October 2, 2017

The U.S. Mint is on track for the lowest sales of American Eagle coins in almost a decade. The 2008 financial crisis began a historic ramp up in sales that lasted for years. 20,583,000 silver American Eagles sold that year, more than double the 2007 total of 9,028,036 coins. → Read more at silverseek.com

 October 5, 2017

The negative sentiment toward gold prevailed on Friday, September 29, the last trading day of the month. Gold futures for November expiration fell 0.3% and closed at $1,282.7 per ounce. The call implied volatility in gold was at 9.7%—the lowest level in September. (Call implied volatility is a measurement of the fluctuations in the price of an asset with respect to the changes in the price of its call option.) → Read more at marketrealist.com

 October 6, 2017

Arizona Gov. Doug Ducey signed a law in May to exempt the sale of U.S. gold coins in the state from capital gains taxes.The measure said taxing a gold coin investment was unfair because the transaction was an exchange of one currency for another. Tax free status would arguably spur investment, but that does not seem to be happening on the large scale.Sales of gold coins in the first nine months of the year shrank to the lowest in a decade, according to new data from the U.S. Mint. Despite preferential tax status in Arizona, investors are choosing the stock market. → Read more at kjzz.org

 October 7, 2017

The Sussex ambulance driver will face no further action after saying his children found the coins. → Read more at bbc.com

 October 7, 2017

The Bangko Sentral ng Pilipinas yesterday said it would penalize people found willfully defacing, mutilating, tearing, burning or destroying currency notes and coins. → Read more at philstar.com

 October 8, 2017

Penny-wise and coin foolish: Don’t eliminate 1 cent → Read more at orlandosentinel.com

Coin Collectors News
Image from David J. Ryder’s LinkedIn page.

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