The last two years have been a wild ride. Anyone who predicted what would have happened should be picking lottery numbers. For the rest of us, the predictable (i.e., the U.S. Mint) became unpredictable. The positives had a lot of negatives and what used to be extraordinary is now ordinary.
Without further ado, here are the top five numismatic stories for 2021.
5. Return of the coins shows
It isn’t easy to have any retrospective of 2021 without acknowledging how COVID-19 has affected the industry. At the beginning of 2021, there were cancelations of shows and other events. As the vaccines became more available and the infection rates declined, the shows returned.
Smaller shows found hotels willing to lease larger rooms to allow the setup of a socially distance bourse. Like the World’s Fair of Money, Larger shows changed to provide for social distancing and limiting contact. Collectors that attended these shows called them a success. Still, the reports may be more emotional satisfaction after a year off.
Coins shows are adapting to an alleged new normal, and collectors are happy to get what they can. While it makes collectors happy, the looming threat of new variants may slow down the shows at the start of 2022.
4. The Positives and Negatives of the U.S. Mint
Ventris Gibson, Acting Director of the U.S. Mint (LinkedIn photograph)
The U.S. Mint is the source of the items we collect and the biggest frustration experienced by the community. On the one hand, the manufacturing business of the U.S. Mint made it the biggest success story of 2021. Compared to the rest of the manufacturing sector, the U.S. Mint has been running in overdrive since mid-2020. The only manufacturer of United States coinage has produced more money than any three mints in the world combined.
Even with the COVID issues, the U.S. Mint could produce the coins required by law, including the 2021 Morgan and Peace Dollars. Unfortunately, selling these coins revealed collectors’ frustrations with the U.S. Mint.
The U.S. Mint’s online order processing system may work without product release. Still, a major product release causes the system to fail. The product release was a perfect storm of a limited supply and a high collector demand. The result exposed how PFSWeb, the U.S. Mint’s contractor, created a system that could not handle the rush.
The U.S. Mint became more communicative with the numismatic press. During this communication, it was clear that Director David Ryder wanted to talk more about the successes. Unfortunately, the failures of the ordering system overshadowed any success. Ryder resigned as Director effective October 1, 2021.
The e-commerce system at the U.S. Mint is broken and needs to be replaced. Unfortunately, the open communications from the U.S. Mint indicate that they are planning to install a bandaid to cover up the system’s problems. Unless the U.S. Mint and PFSWeb make major changes to their online order system, the issues will continue into 2022.
3. 2021 Morgan and Peace Dollars
Numismatists know that 2021 marked the end of the Morgan Dollar series and the introduction of the Peace Dollar. Morgan Dollars may be the most collected coin in U.S. numismatics. The Peace Dollar was the coin promoted by former ANA President Faran Zerbe with support from the ANA. In 1921, the U.S. Mint produced both coins. What better way to celebrate the centennial is by creating tributes to both coins.
The tribute idea was popular by collectors suggesting that it would be a high-demand product. But the U.S. Mint found a way to destroy the movement. In a series of missteps, the U.S. Mint allowed its lawyers to restrict their ability to do its job. As a result, the U.S. Mint could not purchase enough planchets to satisfy collector demand.
It is difficult to call the program a success given its problems. But the coins were a sellout, and they continue to do well on the secondary market. The U.S. Mint announced that the program will continue in 2022, and hopefully, it will go better than the 2021 releases.
2. Million Dollar Coins No Longer a Surprise
1804 Class I Original Draped Bust dollar, PCGS Proof-68 and the finest known of its kind, acquired for a client by GreatCollections for $7.68 million. (Photo credit: Professional Coin Grading Service.)
It used to be that very few coins would sell for more than $1 million. The sale would be broadcast on the traditional news media when they did. In 2021, ten coins sold for more than $1 million. Except for one coin, other sales were barely noticed by the mainstream media. Unfortunately, the numismatic market is not educating the
The numismatic market is very active, and the price increase of significant rarities results from the active market. Although the market favors United States coins, the collectors extend their collections to coins made elsewhere. Of the ten-million-dollar coins sold in 2021, four were not U.S. coins.
Here are the coins that sold for more than $1 million in 2021:
1787 Brasher Doubloon – EB on Wing (ex: Stickney-Ellsworth-Garrett-Partrick)
January 21, 2021
$8,400,000
1822 Half Eagle (ex: Pogue)
March 25, 2021
$7,680,000
1804 Bust Dollar – Class I (one of 15 known)
August 18, 2021
$5,280,000
1804 $10 Proof Eagle (Finest of Three known)
January 20, 2021
$4,750,000
1907 Saint-Gaudens Ultra High Relief Double Eagle
April 6, 2021
$2,640,000
1825 Russia Ruble Pattern with would-be Emperor Constantine
April 6, 2021
$2,280,000
1928 China Pattern Dollar featuring the warlord Zhang Zuolin
April 6, 2021
$2,280,000
1937 Edward VIII 5 Pounds Pattern (one of six known)
March 26, 2021
$2,160,000
1928 China Pattern “Mukden Tiger” Dollar (one of ten known)
December 11, 2021
1. The Double Eagle That Flies Higher
Farouk-Fenton 1933 Saint-Gaudens $20 Double Eagle was sold by Sotheby’s for $18,872,250 in a June 2021 auction. (Picture Credit: PCGS)
As part of a May 2021 auction announcement, Sotheby’s revealed that Stuart Weitzman owned the 1933 Saint-Gaudens Double Eagle, the only legal coin of the mintage to own. Before the auction announcement, Weitzman was the anonymous buyer of the historic coin when it was an auction in 2002. He purchased the coin for $6.6 million-plus a 15-percent buyer’s premium. Sotheby’s famously paid the $20 face value to the U.S. Mint to monetize the coin. The final sale price was $7,590,020. At the time, it was almost twice the previous record paid for a coin.
Since that sale, several coins sold for more.
On June 8, 2021, Sotheby’s auctioned the Stuart Weitzman Collection, including rare Inverted Jenny Plate Block and the British Guiana One-Cent Black on Magenta stamps. The coin sold for a record $18,872,250.
It answers the question, “What is a coin worth?” What are you willing to pay for it?
It is the time of year for retrospectives, looking back on the good and bad of the past year. But there is still time left in the year, and there is still news to cover.
Breaking late in the week, a Royal Proclamation passed to create a 50 pence coin to celebrate the 100th Anniversary of the British Broadcasting Company. The BBC was founded and made its first broadcast in 1922 on the recommendation of the General Post Office, which had problems managing broadcast licenses.
Gold has been hovering between $1760 and $1810 for the last two months. Although the gold spot price is close to the $1900 that some have predicted for the year-end price of gold, the $28 prediction of silver will fall short.
Silver has been on a steady fall since hitting $30 in February. Earlier in the year, the pandemic caused the closing of mines and processing facilities. The advancement of COVID-19 vaccines allows facilities to ramp up processing, and the increased supply allows prices to fall.
There are two weeks left in 2021 and time for more news.
If you like seeing ancient coins and understanding history through the coins, then Aloyseum, a museum at St Aloysius College in Mangaluru, is the place for you. Nearly 1,328 coins from 82 countries are on display. → Read more at deccanherald.com
MANILA, Philippines – The decision of the Bangko Sentral ng Pilipinas (BSP) to exclude World War II heroes from the new P1,000 polymer banknotes met outrage from Filipinos. Descendants of Josefa Llanes Escoda, Vicente Lim, and Jose Abad Santos urged the BSP to keep the martyrs’ portraits and place the Philippine eagle – or other plants and animals the central bank wants to feature – on the other side of the bill. → Read more at rappler.com
Advertisement for fake Morgan Dollars from Facebook
Since August, reports of fake Morgan Dollars have appeared, but the scammers are coming out of the woodwork with the holidays upon us.
Within the hour, I found ads for three different scammers trying to sell 2021 (CC) Morgan Dollars with images in a PCGS slab for $19.95.
First, you cannot trust any of the pictures. All of the pictures were copied from around the Internet, including the PCGS sample slab. These pictures appear in many places when performing an image search. Some of the images are edited versions from the U.S. Mint’s website.
When I entered the serial number on the image of the slab on the PCGS website verification form, they reported it as an invalid number.
No legitimate merchant will sell a newly released coin below the introduction and spot prices. The U.S. Mint sold the coin for $85 each, and the spot price closed at $22.13 today. Anyone selling a highly desirable coin for $19.95 is trying to scam you.
Within an hour, Facebook sent a report saying that they reviewed my reports from the ads. Facebook removed all of the ads. But I know this is a case of whack-a-mole, and more ads will appear soon. I encourage anyone using Facebook to report these ads when they appear on your timeline. If we work together, we can limit the impact of these scammers on the hobby.
It is the time of the year where we look for stocking stuffers for our numismatic friends and relatives. Although there are a lot of coins to choose from, I was looking for some other ideas.
In keeping with the holiday themes, I looked for a coin to give someone that spoke of the holiday. After searching for a simple stocking stuffer, I settled on a 2012 Latvia One Lat coin with Christmas bells on the reverse. I chose this coin because I previously purchased the 2009 Latvia One Lat coin with a Christmas tree on the reverse. These were the only two Christmas-themed circulating coins issued by Latvia.
While looking for something interesting, I found a $5 Heavenly Angels coin issued by the Marshall Islands in 1996. The copper-nickel coin comes in a blister pack embedded on a card. Although it is not a current issue, the Christmas theme on a card can add a little spice to a numismatist’s collection.
I needed one more collectible and stumbled over a postcard-like holder, in its envelope and titles Merry Christmas From Around the World. The card contains coins from Mexico, Luxembourg, Columbia, Norway, Austria, Finland, and China. Each coin has Mery Christmas in the native language of each country, including Chinese. They are all base metal coins from 1964 or 1965.
I found the Latvian and Marshal Islands coins on eBay, and I purchased the card from the mid-1960s from a nearby antique shop. Be careful buying foreign coins online. The Latvian coin came from Latvia, and overseas shipping is slower than expected.
If you can find something that the seller can ship on time, you can make a good impression with your favorite numismatist by finding Christmas-themed coins for the holiday.
THE 1955 Lincoln obverse cent is one of the most unique coins in existence and you're very lucky if you happen to have one in your possession. Since 1909, the US Mint has struck cents that feature 16th US President Abraham Lincoln. → Read more at the-sun.com
The coins were found near Southampton by three amateur detectorists who examined the field after carrying out research on Google Earth. → Read more at bbc.com
A former deep-sea treasure hunter is preparing to mark his sixth year in jail for refusing to disclose the whereabouts of 500 missing coins made from gold found in an historic shipwreck. → Read more at cbsnews.com
After a bit of a hiatus, the Coin Week podcast resumed with a discussion of Free Coin Day. Free Coin Day encourages dealers to give away one coin to every customer to celebrate coin collecting.
Free Coin Day was founded by Coin Week’s editor Charles Morgan and joined this year by Rob Oberth of Round Table Trading. Both are members of the ANA Board of Governors. They encourage those participating in Free Coin Day to use the hashtag #FreeCoinDay to help promote the venture.
While Free Coin Day is a good idea, it is preaching to the converted in many ways. It requires someone to be motivated to walk into a coin shop to participate. Unfortunately, there are fewer brick-and-mortar shops, and most dealers are either working shows only or selling online, and access to dealers is limited.
While Oberth and Morgan have the beginning of a good idea but it does not go far enough. New collectors want experiences, and their collections represent something about their experiences.
Other collecting industries learned this the hard way. During the market downturn of 2008, most industries retrenched and figured out a way to revive old hobbies. The comics industry was not as vibrant. The idea of changing the industry beyond the paper book was not something the publishers wanted to do because it was the lifeblood of the industry.
The publishers realized that paper-based products were on their way out. The industry diversified with ancillary products, including movies, modern stories, collectibles, and experiences. One of the attempts to expand their reach was to embrace the existing ComicCons. The publishers poured more money into the ComicCons and used the larger Cons to launch products.
During the podcast, Oberth and Morgan all but dismiss the ideas learned from the comics industry. Rather than trying to figure out a way to make coin collecting an experience, they are giving away low-end coins trying to entice distracted Millenials and GenXers into coin shops.
The simple coin design was quickly replaced, leaving only 40 or so surviving specimens today. Courtesy of Morton and Eden → Read more at smithsonianmag.com
THE 1955 Lincoln obverse cent is one of the most unique coins in existence and you're very lucky if you happen to have one in your possession. Since 1909, the US Mint has struck cents that feature 16th US President Abraham Lincoln. → Read more at the-sun.com
Black Friday, Cyber Monday, and all other names given to special holiday sale days are relics of the past. Times have changed. Black Friday is no longer the day that most retailers begin to show a profit for the year. And with broadband available in many homes, the significance of Cyber Monday has disappeared as quickly as it arrived.
What has not changed is the desire to find gifts at a reasonable price. You can find sales on manufactured goods that do not have a supply chain issue, but you cannot find sales on collectibles.
The collectibles market remains very active. If it is collected, then the prices are higher than expected. I was reminded of this by a friend who has been saving to buy his first Carson City Morgan Dollar. When he thought he had saved enough, the price of the coin he wanted was now 20-percent more expensive.
Although collector coins are going up in value, there are affordable coins that can be stocking stuffers. Over the next week, I will look into what could become a gift for the collector in your life.
YOU might be surprised what your spare change could sell for online – and you would be quite fortunate to find a VDB penny. Typically, what makes a coin rare is either low mintage or a unique error – and in some cases both. → Read more at the-sun.com
When I created the poll asking whether the U.S. Mint should continue the Morgan and Peace dollar program, I expected most people would favor the program, but I did not realize how positive some people would be.
The email responses have ranged from people reconnecting with their parents collecting coins to the few who thought it was the biggest disaster since clad coinage.
One teacher said that she uses the quarters programs as a teaching tool. The coins allow her to talk about history using the depictions on the reverse. She has sets of Presidential and Native American dollars that are props to talk about those subjects. “They are great to introduce the kids to the 19th century presidents people don’t normally talk about,” she wrote.
Several people wrote how they plan to visit every national park or forest featured on the America the Beautiful Quarters Program reverse. Some have started their journey with the closest parks. One New England-based family has a quarters map and will insert a coin into every state after visiting a park.
One mom of Native American descent uses the Native American Dollar Coins to teach her children about their cultural history. “These coins have some of the best designs,” she wrote.
Comments about the Morgan and Peace dollar coins thought that using classic designs on modern coins gives new collectors access to those designs. “Given the rising cost of everything these days,” he wrote, “the U.S. Mint would allow more people to afford nice examples of popular gold coin designs.”
Currently, 69 of 95 voters said “Yes, I love them” to the poll. As we begin the season of giving thanks, let’s see whom else wants to weigh in.
Should the U.S. Mint Continue to Strike Morgan and Peace Dollars
Yes, I love them. (69%, 86 Votes)
NO! (insert your reason here) (14%, 18 Votes)
Ok, but I probably won't buy them (9%, 11 Votes)
I don't know... maybe. I mean if people really want to buy them... (8%, 10 Votes)
The U.S. Mint announced that they completed producing 2021 American Eagle bullion coins and will distribute the last of their inventory by next week. They are producing 2022 coins for distribution beginning on January 3, 2022.
The supply chain continues to plague the change market, especially in less populated areas of the country. Smaller towns, including in the distant suburbs in metropolitan areas, continue to report coin shortages. Additionally, NGC reports that they have run out of new scratch-resistant holders. New submissions will be encased in the older-style holders—no word as to when they expect to have more in stock.
The American Numismatic Association is soliciting themes for the 99th National Coin Week, April 17-23, 2022. Submission should focus on the artistry featured on numismatic objects and the artists. Submissions should be no more than eight words and easy to remember.
The winning theme will receive a 2022 American Eagle proof silver dollar. The submission deadline is TOMORROW, Monday, November 22. ANA members can submit their idea on the ANA website.
News, News, News An amateur treasure hunter out for a casual day of using his new metal detector in the Danish countryside uncovered a stash of 22 gold medallions inscribed with mystical symbols, the Danish government recently announced. → Read more at kovels.com
Enlarge / Nuclear physicists used micro-XRF scanning to produce elemental maps for Roman denarii coins and their color overlays. K.V. → Read more at arstechnica.com
The FINANCIAL — A study of gold coins from different moments of the Roman Empire has revealed the thriving economy at the time of minting, according to UKRI. To reach this conclusion, researchers brought three Roman coins to the Science and Technology Facilities Council’s ISIS Neutron and Muon Source for analysis. → Read more at finchannel.com
2022 National Purple Heart Hall of Honor Commemorative Half-Dollar Reverse
The news came hot and heavy this week. First, the U.S. Mint announced the designs for the 2022 commemorative coin programs, including the Negro Leagues Baseball Museum coins. Of all the baseball designs by the U.S. Mint, the NLBM commemorative coins are the best designs.
I am looking forward to the National Purple Heart Hall of Honor commemorative. Of the designs introduced, it will be interesting to see the implementation of the half-dollar reverse. As a line-art drawing, it can capture the feeling of the impact of the effect of a soldier earning the Purple Heart. It triggers memories of my grandfather, who earned his Purple Heart on the battlefield in Italy during World War I.
The biggest news of the week is the U.S. Mint saying they will continue the Morgan and Peace dollar programs in 2022. Based on the email I received, collectors seem to be excited about the future of this program. I am still looking for a Peace dollar in its original government package. If anyone is selling, contact me, and let’s make a deal.
Under the news radar was the sale of the Hawaii Five-01913 Liberty Head Nickel. The coin once owned by COL E.H.R. Green featured on an episode of the original Hawaii Five-0 television series, sold for the 14th time. Stack’s Bowers brokered the coins, graded PF the 64+ by NGC, sold for $4 million in a private sale.
Although it is fair to ask, was this news under the radar, or has the sale of coins breaking the $10 million barrier making a mere $4 million sale seem pedestrian?
An unnamed treasure hunter discovered the majority of the coins and gold objects between 2014 and 2020. British Museum → Read more at smithsonianmag.com
After acquiring more than 2,800 rare Islamic silver coins earlier this year, Louvre Abu Dhabi is preparing to unveil the objects as part of a two-year project. Photo: DCT Abu Dhabi → Read more at thenationalnews.com
Minted in Canterbury between 1493 and 1499, the silver half groat dates to the middle of Henry VII's reign, when a rebellion led by pretender Perkin Warbeck threatened to unseat the nascent Tudor dynasty. → Read more at smithsonianmag.com
RARE coins can sell online for a pretty penny, especially full collections. A set of 13 Morgan Silver Dollar coins sold for more than $3,000 earlier this month. → Read more at the-sun.com
On Friday, the Government Printing Office updated S. 2384, the Semiquincentennial Commemorative Coin Act, to include a summary. If passed, the bill will create a commemorative coin program in 2026 to celebrate the 250th anniversary of declaring our independence from England.
S. 2384: Semiquincentennial Commemorative Coin Act
Sponsor: Sen. Patrick J. Toomey (R-PA)
Introduced: July 20, 2021
Summary: This bill directs the Department of the Treasury to mint and issue $25.00 gold coins, $2.50 silver coins, 25 cent clad coins, and proof silver $2.50 coins in commemoration of the 250th anniversary of the establishment of the United States. The designs of the coins shall be emblematic of the semiquincentennial anniversary of the establishment of the United States of America and celebrate 250 years of our nation. On each coin there shall be
a designation of the value of the coin;
an inscription of the years 1776-2026; and
inscriptions of the words Liberty, In God We Trust, United States of America, and E Pluribus Unum.
Treasury may issue coins under this bill only during the period beginning on January 1, 2026, and ending on December 31, 2026. All sales of coins issued shall include a surcharge as prescribed by this bill. All surcharges received by Treasury from the sale of such coins shall be paid to the America 250 Foundation to fund the restoration, rehabilitation, and interpretation of units of the U.S. National Park System and its related areas, as a legacy of the semiquincentennial commemoration.
Introduced in Senate — Jul 20, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. — Jul 20, 2021
An interesting addition to the bill is in Section 3, Paragraph d that reads:
(d) Mintage Limit Exception.—If the Secretary determines, based on independent, market based research conducted by the designated recipient organization identified in section 7(b) that the mintage levels described under this subsection are not adequate to meet public demand, the Secretary may increase the mintage levels as the Secretary determines is necessary to meet public demand.
If the America 250 Foundation finds that the mintage limits are too low, the U.S. Mint can strike more coins without asking permission. Given the current status of the U.S. Mint, it will be interesting to see how it is implemented.
It isn’t easy to have any retrospective of 2021 without acknowledging how COVID-19 has affected the industry. At the beginning of 2021, there were cancelations of shows and other events. As the vaccines became more available and the infection rates declined, the shows returned.
Numismatists know that 2021 marked the end of the Morgan Dollar series and the introduction of the Peace Dollar. Morgan Dollars may be the most collected coin in U.S. numismatics. The Peace Dollar was the coin promoted by former ANA President Faran Zerbe with support from the ANA. In 1921, the U.S. Mint produced both coins. What better way to celebrate the centennial is by creating tributes to both coins.
December 16, 2021
→ Read more at 
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On Friday, the Government Printing Office updated 
