Apr 2, 2009 | ANA
Dave Harper, editor of Numismatic News, wrote a blog entry reporting that the American Numismatic Association Board of Governors unanimously voted to rescind the Presidential Award presented to former Executive Director Christopher Cipoletti. Cipoletti was given the award by then outgoing President Bill Horton in 2007 at the banquet held during the World’s Fair of Money in Milwaukee.
Harper reports that the request was made by Horton and brought up by President Barry Stuppler during the Board Meeting held at the National Money Show in Portland, Oregon. Former ANA President Bob Campbell told the Board that he thought this was a bad idea. Harper further said:
Legal Counsel Ron Sirna said the motion was in order after remarking that Cipoletti had cost the organization $2 million to $3 million in litigation. “There is a substantial basis for Mr. Horton’s request,” Sirna said.
With all due respect to Ron Sirna, while there might be a legal basis for the action is it really the right thing to do?
I would be hard pressed to find many ANA members who believes that Cipoletti did a good job. But what I find disturbing is that Horton is asking for the proverbial “do over” for his bad decision he made. Horton ignored the undercurrent of complaints about Cipoletti that were part of the 2007 Board of Trustees elections. Or Horton ignored what was being said. But even with the griping that was gripping the pages of the numismatic publications, Horton found time to defend the Board, himself, and Cipoletti in published letters.
Horton created this situation while he was ANA President by turning a deaf ear to the voices of discontent and defied his constituents to give the Presidential Award to Cipoletti. Now, the current Board of Governors wants to rescind the award because the legal bill for litigating Cipoletti’s dismissal cost too much. Apparently, this Board has not learned that you can’t put the toothpaste back in the tube.
Former ANA President Bob Campbell was right when he said it was a bad idea. It looks like sour grapes. This is just a bad idea. Regardless of what happened subsequent to the award, what’s done is done. The ANA should drop this issue and just move forward.
Mar 23, 2009 | ANA, coins, education, YN
A while ago, I heard from Donna Guthrie, teacher and children’s book author, who created a new website called Meet Me At the Corner. Meet Me At the Corner hosts kid-friendly videos about many topics of interest to kids. Kids are encouraged to produce a video about a topic of interest and submit them for the world to see. For those who need assistance, there is a video to explain how to make videos.
Donna wrote to me around Presidents Day to alert me about the new video about one kid’s visit to the Edward C. Rochette Money Museum located at the American Numismatic Association headquarters in Colorado Springs.
The video by Amanda tours the museum with and interviews ANA educator Rod Gillis. Amanda asks about coins, collecting, and the new Lincoln Cent issues. Amongst the tour during the video, Amanda is shown the two examples of the 1913 Liberty Head Nickel the ANA holds. Rod tells Amanda that one of the five known coins was sold last year for $4 million. Amanda does a great interview and probably does better than most adults!
Go to the site and watch the video. It is worth the time. When you are done, pass it along to a young numismatist for their enjoyment.
Mar 18, 2009 | ANA
Tonight, I received an email letter from the American Numismatic Association announcing a new dues structure. The new fee structure will introduce a Basic membership tier that will include online-only delivery of The Numismatist for $28 per year—a reduction of $8 from the current membership fee. The Regular membership tier will be $46 per year, an increase of $10, will include having The Numismatist mailed. According to the ANA, “Members in both tiers will otherwise receive the same ANA benefits including the privilege of submitting coins and paper money directly for grading and conservation services to Numismatic Guaranty Corp., Paper Money Guaranty and Numismatic Conservation Services and full use of the Dwight N. Manley Numismatic Library.”
In addition to the membership changes, non-members will be charged for admission to the Edward C. Rochette Money Museum and Dwight N. Manley Library at the ANA Headquarters in Colorado Springs as well as admission fees to attend both the National Money Show and the World’s Fair of Money. Members will continue to receive free admission.
The following is the new dues structure included in the note:
Basic Membership with online version of The Numismatist only
| |
1 Year |
2 Year |
3 year |
5 year |
| Basic Regular |
$28 |
$53 |
$78 |
$128 |
| Basic Junior (17 and younger) |
$14 |
$26 |
$39 |
$64 |
| Associate |
$14 |
$26 |
$39 |
$64 |
Regular Membership with The Numismatist delivered to your door
|
| 1 Year
| 2 Year
| 3 year
|
| Regular |
$46 |
$88 |
$130 |
| Senior (65 and older) |
$41 |
$78 |
$115 |
| Junior (17 and younger) |
$26 |
$50 |
$74 |
Life Membership (Option for Basic or Regular)
|
| Under 55
| 55 & Over
|
| Basic (Online version of The Numismatist) |
$800 |
$600 |
| Regular (The Numismatist delivered to your door) |
$1,200 |
$900 |
| Club (Regular option only) |
$1,750 |
*25 years |
Club Membership (Regular option only)
| 1 Year
| 2 Year
| 3 year
| 5 year
|
| $75 |
$145 |
$215 |
$355 |
Add $36 a year for magazine delivery outside the U.S
The new fee structure begins on April 1 for non-members and June 1 for members. No information was provided for those of us who prepaid through this year and beyond.
Dec 26, 2008 | ANA, legislative, quarter
Over the last few days, I have not read many complementary reviews about the America’s Beautiful National Parks Quarter Dollar Coin Act of 2008, now Public Law Number 110-456 (GPO: Text, PDF). Not only did I write about earlier this week, but Susan Headley at About.com wrote about how many of her readers did not like the concept.
So where was the ANA? The American Numismatic Association has been representing the collector community in all matters numismatic. The ANA was instrumental in convincing congress to create the 50 State Quarters Program. The ANA does talk with congressional leaders about numismatic issues. But with very few positive things being said about what is now law, why did the ANA not say anything this time?
I am sure there will be excuse that between the holidays and that the recent burglaries of dealers that included the firm owned by ANA President Barry Stuppler may have diverted some attention from this bill. But there are others in the ANA who could be asked to speak on the community’s behalf.
One person who could have spoken on behalf of the membership is David Ganz. Ganz is a former president of the ANA, numismatic author, lawyer, and politician who worked with the ANA to lobby congress for the 50 State Quarter Program. Ganz could have spoken with Rep. Michael Castle (R-DE) and said that this is not the area to spend political capital. Rather, the Ganz could have offered to bring the idea to the ANA to allow the members to come up with fresh ideas.
When the National Parks quarters fail to capture the public attention like the 50 State Quarters, I believe the collector community will be blamed for not “being on board,” even though we were not consulted. The community will lose credibility in a manner similar to the coin shortage of the 1960’s and it will take a few years before congress will listen to the ANA again on coinage matters. It could have been avoided if the ANA would have spoken to Castle and expressed concerns when the bill was announced last June, long before the holidays!
If it is the job of the ANA to protect the hobby, the ANA failed at its job.
Sep 15, 2008 | ANA
Author of The Answer Man for Krause Publications and former governor of the American Numismatic Association Alan Herbert has been appointed to the current Board of Governors. Herbert replaces Dr. Radford Sterns who died late last month.
The ANA press release said, “In accordance with ANA bylaws, any vacancy on the Board of Governors is offered to the person who failed to be elected as a Governor by the least number of votes in the most recent election. Herbert received 2,243 votes in the 2007 election, the most votes of any unsuccessful candidate.”
Herbert, an ANA life member, had previously served on the Board in 1999-2000 and 2003-2007. He should be able to step in with out problems.
Sep 7, 2008 | ANA, gold, US Mint
While the beginning of a new school year wreaks havoc with some schedules, as a contractor to the federal government, my schedule is affected by the end of the government’s fiscal year. Agencies have work to do and a budget that has to be accounted for. As the year comes to a close, they look to ensure that the money is spent on worth while work—or at least their systems are securely built. I do more “emergency” information security assessment in August and September than I do during the rest of the year.
With my head assessing security risks, I continue to watch the numismatic market. There are a few things I want to comment on.
I has previously questioned the US Mint’s pricing of precious metals. Although the Mint has adjusted prices when the price of gold has gone up, they have not lowered the price when gold prices go down.
When I discussed the price and premium of the American Gold Buffalo coins released in July, I noted that the Mint was charging a premium averaging over 20-percent the price of gold for these coins. But that was on July 15, when gold was $975.10 per ounce. The gold market closed at $802.90 on September 5, a $172.20 drop in price. Yet the Mint continues to sell Gold Buffaloes at their original issue price.
Updating that table with the current price of gold, we can see the increase in premiums:
| Option |
Mint Price |
Metal Value on 7/15 |
Premium on 7/15 |
Metal Value on 9/5 |
Premium on 9/5 |
Premium Pct |
| Proof 1 oz |
$1,199.95 |
$975.10 |
$224.85 |
$802.90 |
$397.05 |
33.08% |
| Proof ½ oz |
$619.95 |
$487.55 |
$132.40 |
$401.45 |
$218.50 |
35.24% |
| Proof ¼ oz |
$329.95 |
$243.78 |
$86.18 |
$200.73 |
$129.23 |
39.17% |
| Proof 1/10 oz |
$159.95 |
$97.51 |
$62.44 |
$80.29 |
$79.66 |
49.80% |
| Proof 4-Coin Set |
$2,219.95 |
$1,803.94 |
$416.02 |
$1,485.37 |
$734.58 |
33.08% |
| Uncirculated 1 oz |
$1,059.95 |
$975.10 |
$84.85 |
$802.90 |
$257.05 |
24.25% |
| Uncirculated ½ oz |
$539.95 |
$487.55 |
$52.40 |
$401.45 |
$138.50 |
25.65% |
| Uncirculated ¼ oz |
$289.95 |
$243.78 |
$46.18 |
$200.73 |
$89.22 |
30.77% |
| Uncirculated 1/10 oz |
$129.95 |
$97.51 |
$32.44 |
$80.29 |
$49.66 |
38.21% |
| Uncirculated 4-Coin Set |
$1,959.95 |
$1,803.94 |
$156.02 |
$1,485.37 |
$474.58 |
24.21% |
About.com’s Susan Headley posted an article about the Mint’s pricing policies with a proposal to tie the price of the coin to market conditions.
If you follow me on Twitter, you will notice that the image I use is a digitally altered image of a 1964-D Peace Dollar. Trial Peace Dollars were struck very briefly at the Denver Mint in 1965 to use to gain approval for their issuance. Because of the silver shortage in 1964, the Mint was urged to cease production and melt these coins. Collectors’ Universe forum user “savoyspecial” posted an image of a May 31, 1973 letter from the Mint explaining the fate of the 1964-D Peace Dollar. Although the letter says all coins were destroyed, I have a feeling that a few examples missed the smelting pot and not in the government’s possession.
Let me close by offering my condolences to family, friends, and associates of Radford Sterns. Dr. Sterns was a prolific exhibitor at the American Numismatic Association conventions and former governor. His specialty was Georgia colonial currency. I met Dr. Sterns at an ANA convention and asked questions about colonial currency and aspects of Georgia history. He was very gracious and engaging. The hobby was better for his participation and will miss his contributions.
Image of US Mint letter courtesy of CU Forum user savoyspecial
Image of Radford Sterns courtesy of Numismatic News
Aug 9, 2008 | ANA, awards, Baltimore, books, CCAC, shows
I heard many reports of a successful World’s Fair of Money, I wish I was able to attend other days. Unfortunately, with it being two-and-a-half weeks after knee surgery, I was not able to recover in order to make a return trip. So I took the week off to recover and allow my knee to heal. But I had a few thoughts I would like to share.
First, congratulations are in order for Roger W. Burdette. On Tuesday, July 29, the US Mint announced that Roger was appointed to the Citizens Coinage Advisory Committee. Roger was appointed to a four-year term as the member with a special background in numismatics. Roger is a noted numismatic researcher and author. His three-volume series, Renaissance of American Coinage have been met with critical acclaim.
To add to the acclaim for Renaissance of American Coinage, the third published volume, second in the series, covering 1909-1915 has won the 2008 Book of the Year from the Numismatic Literary Guild. With this year’s recognition, all three volumes have won Book of the Year honors (1905-1908 volume in 2007 and 1916-1921 volume in 2006). I highly recommend all three books for anyone with an interest in numismatics!
I was able to spend a lot of time in the area where the international mints were located. I visited with the Royal Mint and was able to purchase the The Royal Shield of Arms and Emblems of Britain Brilliant Uncirculated Collection and a 2008 One Ounce Britannia Bullion £2 coin. What was more interesting was interesting was talking with the 20-something Royal Mint employees. Not only were the accents intriguing, but they were more excited about going shopping. They noticed the same thing that I did many years ago when traveling to the UK, the numbers of the prices were the same but in different currency. So they were excited to pay $45 instead of £45 for jeans. At the current exchange rate, clothes were half-price. I hope they returned to London with a suitcase full of nice clothes!
Sometimes, it is easy to ridicule the Royal Canadian Mint for the large number of non-circulating collectable legal tender (NCLT) coins they produce. When viewing their catalog or other online images, some of the coins have a comical look to them. However, when seeing them in person in their display case. I was not impressed with the coin that is a recreation of an old milk token and some of the full color coins, but those that use color as an access where very beautiful.
My only regret was not picking up a stuffed moose and beaver that was offered at the Royal Canadian Mint booth. They were very cute, albeit expensive, and were dressed in the traditional Royal Canadian Mounted Police dress uniform. My niece and nephew would have loved these fuzzy buddies as gifts.
At the table for the Austrian Mint after Austrian Railway commemoratives caught my eye, I had a conversation with a heavily accented mint employee about their coins. While they have not produced any colorize coins, that will change in the future. It is felt that using color accents on coins help promote interests with new collectors. Interestingly, this Australian Mint employee said that the US Mint may be the last mint to issue colorized coins. He felt that the US Mint takes a parochial view on coin design that make significant change reticent. Although he understood the political process behind US coinage, he cited the lack of bimetallic coinage as part of that inability to think beyond their comfort zone. It was an interesting conversation.
Finally, I was able to meet Bob Van Ryzin, editor of Bank Note Reporter and host of Coin Chat Radio. We talked a little about Coin Chat Radio and how they would handle broadcasts from the show. I also ran into Dave Harper, editor of Numismatic News and World Coin News. I promised him I would not tell everyone that I found him eating cake at the Industry Council For Tangible Assets (ICTA)—so don’t say anything! The few times I met Dave, he always seems to be happy. I guess it helps when you have a great job like his!
Next for the ANA is the National Money Show next March in Portland, Oregon. I have been to Portland once and enjoyed my time. It is a nice city with a small-town feel that is appealing. Besides, Oregon has no state sales tax, which makes shopping that much cheaper!
Jul 30, 2008 | ANA, Baltimore, shows
It was a very long day in Baltimore. After driving for over an hour, I finally made it to the Baltimore Convention Center and started to feed pictures and text to Twitter and Photobucket. I hope those who followed enjoyed the updates. I know there were some time gaps between Tweets, but I needed to take time to do my own searching! Also, connection issues prevented a few pictures from uploading. But it was fun.
Since it was a long day, here are a few items that left an impression.
US Mint
US Mint Director Edmund Moy was the star of the show after the opening when he unveiled the 2009 Ultra High Relief Double Eagle Gold Coin. The exhibit included a case with six 400 ounce gold bars, followed by replica large casts of the new coins, another case with trial dies and various trial strikes, and ending with multiple pattern coins.
Although my pictures did not capture these coins properly, those who are skeptical about edge lettering should not worry about these coins. The edge lettering on the sample coins were very well struck, deep, and really stood out on the coins. The look is phenomenal and I look forward to buying one.
In the cases with the current products, the Mint was showing the First Spouse Medals. In fact, they had all current medals for sale. But I would not buy any of them. All of the inch-and-a-half medals are struck in low relief on planchets that look like the dollar planchets. When I think of medals, I envision high relief, majestic looking artwork and, most of the time, bronze. The designs are nice, especially the Jefferson’s Liberty medal, the execution leaves much to be desired.
NGC’s New Holder
During PNG Day, Numismatic Guarantee Corporation announced a design for a new holder. According to their data sheet, the basic shape of the holder will not change, there will be five new features:
- New label with microprinting, UV-light sensitive watermark, and a holographic layer.
- All coins smaller than 40mm are encased using NGC’s EdgeView Design.
- Materials upgraded to a preservation level for the coins that were encased by NGC for the Smithsonian.
- Better seal for the slab NGC is calling direct pressure welding.
- A new hologram that is virtually impossible to reproduce that will be fused to the slab, making it difficult to peal off.
The person I spoke with at the NGC table did not have a sample slab nor knew when these slabs will be in production.
Images
If you did not follow the images or want to know what I was looking at when taking the pictures, I put together a photo album and created a slide show of these images. The slide show is below.
I should return on Friday. But rather than use the camera to take pictures, I will take my Canon camera to take better pictures of the US Mint and Bureau of Engraving and Printing. I will continue to Twitter from the show, but I may reduce the number of pictures posted.
Until then, enjoy the slide show.
Jul 29, 2008 | administrative, ANA, Baltimore, shows
In addition to following CoinsBlog on Twitter to see my 160-character or less reports from the World’s Fair of Money, you may also follow the pictures I hope to post on a new Photobucket account I set up today. Since my iPhone includes a 2 megapixel camera, why not take advantage of it and bring you images from Baltimore.
There are a few test pictures posted to Photobucket sent from my iPhone for testing. Those pictures will be deleted this evening.
To follow me during the day, just tune into the user coinsblog on both Twitter and Photobucket. I hope all of this works!
Jul 29, 2008 | administrative, ANA, Baltimore, shows
There does not seem to be much going on as the numismatic world concentrates in Baltimore. As I continue to recover from surgery I am considering my plan of attack for this week. For now, I will be in Charm City for the opening of the World’s Fair of Money—after all, I am the president of one of the sponsoring clubs. Sure, it will be a shlep, but it is a job I am looking forward to doing!
For this show, I’m going to try something different. I will try to file reports from the bourse floor. Using my newly purchased iPhone 3G and software called Twitterific, I will post messages (called Tweets) to the blog’s Twitter account. You can read my announcement about the use of Twitter in this post.
You can either follow the user coinsblog on Twitter or visit the blog often and refresh the page to see the last five posts on the left side of this page.
My ability to post messages to Twitter will depend on my ability to find a wireless connection to the Internet from the bourse floor. If I cannot find a signal, I will try to post updates when I am in wireless range. I hope this works because I think it will be fun!
Stay tuned!
Image courtesy of the ANA.
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