Watching the news has been an experience. As a news junkie, I have found myself turning away from all news outlets to maintain a little sanity.
In television news terms, the “A Block” is the news at the beginning of the broadcast until the first commercial. It is where the most important stories are broadcast. Typically, a major derailment of a freight train in Northern Virginia would be an A Block story. On Friday, the 30-second mention was the lead-in to the weather report at 18 minutes after the hour.
The news of the week affects everything, including numismatics. Although the events in Minneapolis, Louisville, and Brunswick, Georgia, have their analogies to problems in the numismatic community, that will be left to another commentary. This week, I want to concentrate on the coronavirus:
- The pandemic is real and will be around for a while. It is not a government conspiracy. It is not overblown. And stop comparing the numbers of deaths to the flu. The flu kills 56,000 people annually, a 12-month statistic. COVID-19 has killed 104,217 (as of this writing) since FEBRUARY!
- COVID-19 does not care who you are, your political affiliation, or what you worship. You can be infected. Once infected, you can spread the virus even if you show no symptoms of the disease. History shows us this is possible. Look up the biography of Mary Mallon, better known as “Typhoid Mary.”
- The more scientists research the disease, the more they realize a lot is unknown. Last week, a preliminary report from a peer-reviewed medical journal revealed that people infected with COVID-19 are showing damage in their lungs. The study included people who did not show symptoms of the disease.
- Wearing a mask is not infringing on your rights and not a sign of tyranny. It is to protect everyone in the name of public health in the same manner that you are required to wear shirts and shoes when going to a restaurant. Your decision to not wear a mask infringes on my rights not to get infected since the masks are to prevent you from spreading potentially infected droplets from your lungs. If you want to make a statement, get a personalized mask with your message. Wear a t-shirt with your message. But wear the damned mask!
- And stay six-feet away from me. I would rather be six-feet away from you than six-feet underground!
Although Florida is open and the governor is lifting many restrictions, the Florida United Numismatists canceled the Summer FUN show.
Even though the ANA announced that they continue to plan to hold the World’s Fair of Money in August, sources report that Pittsburgh may not be fully open by then. Even if Pittsburgh is allowed to be in the “Green Phase,” according to the Pennsylvania governor’s plan, “Large Gatherings of More Than 250 Prohibited.”
Also, “All businesses must follow CDC and DOH guidance for social distancing and cleaning” includes dealers at their tables. Some dealers need a lesson in cleanliness and upgrading their people skills making this a barrier to holding the World’s Fair of Money.
Even if the ANA tries to hold the World’s Fair of Money, how many will attend? Are you going to travel in a closed metal tube to a show required to limit attendance? How many ANA members over 60 will attend? How many ANA members are over 60? I am 60 and 4½ hours away by car with friends in Pittsburgh that I would love to visit. I am considering not going under today’s circumstances.
Let’s do the right thing and cancel the World’s Fair of Money before going further embarrasses the organization.
WEAR YOUR MASK!
KEEP YOUR SOCIALLY SAFE DISTANCE!
BE SAFE AND HEALTHY!
And now the news…
May 25, 2020
MLB Legend Walter "Big Train" Johnson recreated a famous myth associated with George Washington
→ Read more at medium.com
May 26, 2020
Australians have been hoarding banknotes during the COVID-19 pandemic. Australians weren't just stockpiling toilet paper during the COVID-19 crisis – they have also been hoarding crisp new banknotes.
→ Read more at bellingencourier.com.au
May 30, 2020
AN NHS worker was left stunned after he discovered a 670-year-old coin which was made shortly after the Black Death in a farmer’s muddy field. Amateur metal detectorist David Lowe, 55, stumbled across the ‘weirdly relevant’ find among a pile of rubbish while searching land near Rothbury, Northumberland.
→ Read more at metro.news
After I wrote yesterday’s post criticizing the ANA President and Board of Governors for inaction during the pandemic, I received an email asking for a comment about the President’s column in June’s The Numismatist.
ANA President Steve Ellsworth (Image courtesy of the ANA.)
Admittedly, I had not downloaded the June issue as I am still reading stories from May. After downloading the issue, I turned to page 9 to read the message. To my surprise, I found this passage:
First, ANA Governor Rob Oberth promises to transform our IT and social-outreach programs in a significant way. Our previous progress has been too slow for far too many years. This is not the time for armchair quarterbacks. The days of those who think their role is to sit on the sidelines and give opinions and “sharp shoot” others is over. Rob pledges to engage those naysayers to lead, follow or get out of the way. He is uniquely qualified to gather the necessary support to push the programs through and expedite their success.
OPEN MESSAGE TO ROB OBERTH: Been there. Done that. Got the award to prove it.
I was once an armchair quarterback. Then I was invited to be part of the solution. After six years, I learned more about the ANA’s intricacies than someone with one-year on the Board of Governors could fathom. I know the history, which is very important because it looks like we are going backward. Remember, George Santayana once opined that if you do not learn from history, then you are destined to repeat it.
It is no secret that I am not a fan of Steve Ellsworth. Aside from his previous actions with me, other things bother me about Steve.
- If you go back to Steve’s first run for the Board of Governors about eight years ago, his candidate statements mention his interest in certain aspects of history and the “War of Northern Aggression.” Sorry folks. I have a difficult time embracing this type of attitude about the side the LOST a war only to glorify in later years. And the last I looked, it was the Confederacy that started the shooting at Fort Sumter. Time to get over it and move on.
- In Steve’s current tome, he says, “Not since our Civil War 160 years ago have we dealt with such adversity.” A statement like this is from someone who is stuck in a historical time warp. All we have to do is look at the effects on numismatics to debunk that view of history. The desire to create the Peace Dollar, the ending of gold coinage in 1933, the necessity to produce steel cents, and remove copper from nickels are just a few examples of adapting to more difficult times.
I am not trying to minimize the worldwide effect of this pandemic. My business is closed as being “nonessential,” according to the government. My livelihood is on the line. As someone very close to being of Medicare age, this is not the time to start over. However, the U.S. Mint continues to strike coins. It was considered a market catastrophe when the West Point Mint closed for a short period.
Compassion and understanding is one thing. Leadership and being levelheaded is another. Skipping over World War I, Great Depression, World War II, and 9/11 dismisses other lessons from history. Remember the warning from George Santayana.
Although Steve has not said it in so many words, his actions prove that I will not be on his Christmas card list.
But that is not what bothers me. What bothers me is that after six years of helping with the ANA’s technology, bringing it up from the virtual stone age, and working to prevent the ANA from making a multi-million dollar mistake, Steve will not ask me to help on behalf of the ANA.
I came out against him in the election. Big deal! This type of thing happens all of the time, and Steve should know better. He once lived in the shadows of Washington, DC. Opponents work with each other after the elections are over.
I did not respond in his timeframe for input to his strategic plan. Well, Steve forgot that exercise, too. I have not seen anything about this “strategic plan,” nor has anyone else I asked.
If Steve is such a student of history with a fixation on the Civil War, he would recognize how President Abraham Lincoln included those who were opposed to his presidency in his cabinet. It was a move that was uncommon in the 19th century as it is today. I recommend reading Team of Rivals by Doris Kearns Goodwin if you want to learn more about a real profile in courage. I can lend my copy!
As a numismatic historical reference, Lincoln appointed primary rival Salmon P. Chase as the Secretary of the Treasury. Chase was considered more radical than Lincoln. The former Whigs did not trust the one-time Democrat after he joined the new Republican Party. As Treasury Secretary, Chase created the paper currency system, which led to his portrait appearing on the first $1 Demand Notes. Later, his portrait would appear on the $10,000 gold certificate.
I do not know Ron Oberth. However, I am sure the reason he has not contacted his immediate predecessor is that Steve said something. I know Steve will respond along the lines of, “I did not tell Ron not to talk to you.” I know, Steve. But you are the type that I would have to check for the knife if you pat me on the back. I am willing to bet that Steve said something like, “I don’t think he would have anything to offer.”
I do not expect to be contacted by the Ellsworth, Oberth, or anyone with the Board of Governors. Too bad, because I would have agreed to work with the ANA regardless of these opinions. I would do it for the benefit of the Association.
I expect to hear from Steve’s fans!
His fans are a fiery bunch. Anytime I criticize Steve, my inbox gets scorched with the same type of vitriol that makes the evening news after a presidential rally. However, the difference is that I can work for the benefit of the whole while I can disagree with someone.
Yes, Steve, I am going to be an armchair quarterback because you took me out of the game and cut me from the team. I know what the ANA needs and why it has not made progress. I will use that knowledge to make sure that membership dues benefit the members.
Sun Tzu did not write, “keep your friends close but your enemies closer.” That was from The Godfather Part II. But it was Machiavelli who wrote, “It is easier for the prince to make friends of those men who were contented under the former government, and are therefore his enemies, than of those who, being discontented with it, were favourable to him and encouraged him to seize it.”
Gotta love Santayana’s wisdom!
Double extra brownie points to anyone who can guess from which song the title of this post was adapted from!
Earlier today, the American Numismatic Association published a press release announcing that planning is continuing for the World’s Fair of Money this August in Pittsburgh.
Whatever happens, will depend on the state of the pandemic and the restrictions set by Pennsylvania and Pittsburgh. It will also depend on how the David L. Lawrence Convention Center can help stage the show to keep all participants safe.
I have confidence that the ANA staff will do the best job they can so that the show can go on.
The leadership is challenging my confidence in the ANA.
It has been more than two months since the ANA Headquarters had to close because of the pandemic, but we have not heard from the ANA president.
On April 8, 2020, the ANA canceled Summer Seminar, but we have not heard from the ANA president.
On April 10, 2020, I explained that the ANA did not have online education because the ANA president killed the process.
On April 16, 2020, I provided several ideas as to how the ANA could provide stop-gap processes to expand online education in the short term.
But we have not heard from the ANA president.
As the country begins to reopen, the ANA has missed a golden opportunity to put itself online to attract an audience. Using a professional staff who could probably use a break from the mundane, the ANA could have created great content to attract people surfing the web looking for something different.
The ANA has many brilliant members with knowledge they can share with the public under the ANA’s banner. Others can generate content for the more serious collectors.
Since the ANA staff is already on the payroll, the costs would be whatever cost production and communications. All it would take is a commitment from the ANA to do this.
Where was the ANA’s commitment?
Where was the Board of Governors to push this?
Where was ANA President Steve Ellsworth?
This past week has been interesting for the precious metals markets. When the market seems like it will take off, prices modulate and lay flatter than a pancake. Predictions as what the markets will do are all over the place without a consensus answer from analysts.
It reminds me of the quote attributed to President Harry S. Truman, “Give me a one-handed Economist. All my economists say; ‘on one hand…,’ then ‘but on the other….’”
This past week, the Anti-Counterfeiting Educational Foundation (ACEF) weighed in with another problem in this market: COUNTERFEITING!
Counterfeiting is not a new problem. What makes the problem more pronounced is that with much of the country staying home and Internet usage increasing, the number of websites trying to scam people out of money has risen. ACEF has been monitoring the problem and has reported over 100 websites selling counterfeit coins and bullion to government enforcement agencies.
Many of these counterfeiters create slick websites. Not only is it easy to create professional-looking sites with modern tools, but it is easy to copy information from one website to another. Once the scammer has the information they want, it is easy to repurpose it to scam people. They also copy the text from legitimate websites, especially if English is not their first language. It is easier to steal the text than have to create their own.
- If the price is too good to be true, it is probably a scam. Check a site like kitco.com for the current Bid/Sell price. If the offer price is below the current Bid, be wary of the seller.
- Many scammers do not include real information about their location. Beware of the seller if they do not have a physical address. I know that there are exclusively online dealers that work from home but use post office boxes, so they do not publicize their home address. For those dealers, you will have to do more investigations. However, if the dealer is using a private postal box, you may want to avoid their offers. Private postal box services have fewer verification checks than the Post Office. Also, if something happens with a Post Office Box, you will have a stronger case when you complain to the Postal Inspection Service.
- Nearly everything said about addresses can apply to telephone numbers. Telephone numbers can be faked, rerouted, sent to a pay-as-you-go phone that some people call a “burner phone,” and so many more options. The problem also exists for toll-free telephone numbers but with an additional issue: when you call a toll-free telephone number, the owner of the number will get the phone number of the telephone you used to call. Since the recipient is paying for the call, they have the right to know where the call originated.
“But Scott,” you ask. “How do I figure out if this information is real?”
Let your favorite search engine be your friend.
Use your favorite search engine and type the address into the search bar. What information comes up for that address? Is the address a business? A private home? A private mailbox service?
Use an online map service that shows street views, like Google Maps. Search for the address found on the website. What can you learn from looking at the street view?
You can also enter the telephone number as a search term. In many cases, you will find one of the many “is it a scam” websites. These sites rely on users to enter data about their experiences with the telephone number. Click on a few to see what others have said about the telephone number in question.
With those essential tools, you should be able to avoid most scammers. Unfortunately, the professional scammers know their way around these issues. Then again, some of those scammers work out in the open. They run legally but use emotion, patriotic-sounding buzzwords, and extremist rhetoric to convince buyers to overpay for their products.
If you think you have been scammed or there is a question about a dealer, contact the ACEF (www.acefonline.org) and ask for assistance.
Finally, if you are in the market to buy precious metals, you should consider working with a member of the Accredited Precious Metals Dealer program (www.APMDdealers.org).
And now the news…
April 27, 2020
Retail investors can’t seem to get enough of gold during the coronavirus crisis, and they are willing to pay staggering amounts to get their hands on it. Consumers who want to buy gold coins typically have to pay more than the per-ounce prices quoted on financial markets in London and New York.
→ Read more at bloomberg.com
April 29, 2020
Our guest column this week is a report on a study done by accessibility consulting and assistive technology firm BarrierBreak on the new currency coins launched by the Reserve Bank of India that claim to be accessible to people with visual impairments.
→ Read more at newzhook.com
April 29, 2020
Australia’s largest gold refinery has ramped up production of one kilogram bars to ease the supply squeeze in the U.S. that helped propel a surge in the premium for New York futures.
→ Read more at finance.yahoo.com
May 1, 2020
With central banks spraying unprecedented amounts of printed money at the global economic system, it’s little wonder the gold price soared by 18% in the six weeks following the stockmarket meltdown. All the extra money sloshing around means the chances that consumer price inflation will take off and erode the value of your cash have risen sharply.
→ Read more at moneyweek.com
The feedback from my post, “Why the ANA does not have online education,” was interesting. About 10-percent of the readers (based on collected statistics) commented to me via email. That is a lot of feedback for one post! The comments ranged from a virtual headshake to anger for being “disrespectful” to the ANA president.
Unfortunately, nobody will go on the record with their comments. Please remember that I welcome all comments and will allow you to post any criticism you want. I accept and post all feedback, especially if you disagree with me. All I ask is that you keep it clean.
I want to answer two questions publically:
1. You’re the head of the IT Committee, why don’t you do something about the situation?
I am not longer the chairman of the IT committee, and I am no longer a member of the committee.
In late November 2019, ANA President Steve Ellsworth removed me from the committee after seven years of service.
When Ellsworth called to tell me, he did not give the exact reason. His statements as to why he made the decision were vague and ambiguous. Later that same day, I had to send him an email for clarification.
I assume that he did not want me around. After all, I came out against his candidacy before the end of the last election. But Ellsworth had a problem. How could he remove a recipient of the Glenn Smedley Award from the position that was the reason for the honor?
Unfortunately, I gave Ellsworth a way out. After he took office, Ellsworth changed a few things, including wanting status reports and a strategic plan. When he told me about the strategic plan, Ellsworth said that the ANA did not have one in many years and should come up with one.
At the same time, my business picked up. I was working 18 hour days, instead of my usual 14 hours, and had to hire more people. While my business was good, it did not provide enough time to devote to the ANA. I was hoping to catch up in late October, but that did not happen.
With the ANA not being a priority and my inability to deliver whatever Ellsworth wanted, I gave him the excuse to get rid of me.
Ellsworth’s move was a bit punitive, but it pales in comparison to what he hass done to the Exhibition Committee. That is a story for another time.
2. Can’t the ANA use something like Zoom to create classes?
They can also use software like Microsoft Teams, Google Hangouts, GoToMeeting, WebEx, and Skype. Any video conferencing software and presentation slides that can be shared can create an instant class environment.
Google Hangouts and Skype are suitable for small classes. Although both are known to have bandwidth issues, keeping the courses between 7-10 people make these an inexpensive option.
Zoom is the current darling of the industry since they have a free tier. While Zoom has some excellent features, its security issues have shown they are going through significant growing pains. It is like watching your teenage son grow six inches in two months while his voice is changing. Eventually, he will evolve, and so will Zoom.
WebEx and GoToMeeting are the old stalwarts of the industry. Both have the advantage of being mature and familiar to many in the business world. The significant difference between these services and Zoom is that Zoom makes it easier to connect to a meeting.
Another option is YouTube Live. Classes can be live streamed with any number of people tuning in. Interacting with a YouTube Live stream is via comments only, similar to Facebook Live, but it is something that the ANA can use.
Here is an idea: How about a YouTube Live class for Numismatics 101? After the live class, leave the video online with an email link to allow future viewers to send questions.
There are better ways to hold online classes. Blackboard and similar software have better options. But to start, do something!
Earlier this week, Roundtable Trading announced that the Great American Coin Hunt that is part National Coin Week would go on as planned.
During the week of April 19-25, 2020, coin dealers will attempt to place collector coins into circulation. Those finding coins are encouraged to log onto social media and show off their finds using the hashtag #GreatAmericanCoinHunt.
Who is spending money and where are they spending it?
With the current COVID-19 stay-at-home orders, The number of places that are now taking cash payments has dwindled. Patrons of restaurants and encouraged to use online ordering and payments before arriving. Delivery services also want items paid for before making the trip to your front door.
In states that have laws that require retail stores to accept cash, retailers are requesting that customers limit “payment options to credit cards/debit cards… to minimize physical contact.”
The PaymentsJournal, a payments industry publications, reported that a study released by RTi Research shows an increase in people showing concern about catching coronavirus from using cash. The studies show that more people have used less cash, and more will use less cash in the future.
If consumers are using less cash in the fewer open retail outlets, then how successful will a coin drop be?
And now the news…
April 4, 2020
In line with the resolution of the European Parliament and of the Council of April 27, 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation), we are informing you that we are processing your data.
→ Read more at scienceinpoland.pap.pl
April 6, 2020
Strengths • The best performing precious metal for the week was gold, off only 0.45 percent. The yellow metal is continuing its strong showing.
→ Read more at kitco.com
April 6, 2020
A new Irish bullion company has achieved 70% of its yearly target in their last three weeks of trading. Investors have rushed to the precious metal as the price of gold drifts upwards.
→ Read more at breakingnews.ie
April 7, 2020
A proposal to land the Apollo lunar module on the reverse side of a new $1 coin has been waved off by the committees reviewing the design.
→ Read more at space.com
April 10, 2020
Parents and children across the nation are finding themselves at home and looking for things to fill their time and keep their minds active. These are troubling times but there is a silver lining. Americans have found an opportunity to slow down and reconnect with their families. Coin collecting can be an enjoyable and wholesome escape from television and electronic devices. That is why US coin dealers and collectors alike from coast to coast are pledging to give away coins and coin albums to parents for their kids.
→ Read more at prweb.com
April 10, 2020
— A very (very) small portion of the metal in NASA's official Apollo 13 50th anniversary medallions flew to the moon and back — just like the mission the bronze pieces serve to commemorate.
The medallions, which were created for NASA by Winco International of California, are among several new mementos and limited edition products that celebrate the Apollo 13 mission half a century after it "had a problem."
→ Read more at collectspace.com
April 11, 2020
Lecturer Jamie Pringle has unearthed a medieval coin under his raspberry patch after doing a spot of weeding during lockdown. He was trying to stave off boredom when he headed into the back garden of his three-bedroom semi in Hartshill.
→ Read more at stokesentinel.co.uk
On Wednesday, April 8, 2020, the ANA announced the cancellation of the Summer Seminar. The announcement came two days after Colorado College, the site of the Summer Seminar programs, announced limited access to the campus for summer activities because of the novel coronavirus.
As COVID-19 spreads across the United States, most states have a stay-at-home order in place, preventing people from venturing out. Schools, businesses, religious services, and minor medical appointments are meeting online. Services like Zoom and Microsoft Teams that were once the domain of a few companies have dramatically grown.
Colleges started to move to online courses almost 20 years ago. Lower grades followed with classroom software that enabled virtual lessons. Entrepreneurs found a willing market and started to create an online curriculum to help parents home school their students.
The question is that if this is available to colleges, schools, corporate training, and seminars were online, then why the ANA is not able to offer Summer Seminar online?
ANA President Steve Ellsworth killed an attempt to create online education.
In 2017, then ANA President Gary Adkins initiated the proposal to bring online education to the ANA. Although the concept was good, the process was fraught with members of the Board of Governors thinking they knew better than the headquarters staff and the Technology Committee.
The membership does not give the ANA staff enough credit. The ANA is a complicated organization with a constituency from the novice collector to the largest auction houses. Very few organizations have a mission as broad as “numismatics.” Yet, with dwindling resources, the staff in Colorado Springs manage to keep the ANA running. When someone from the headquarters, including the executive director, says something that would make it easier on them, I will pay attention.
The question of, “What do you want?” became a nagging question. Nobody can tell us what they wanted? How can the Technology Committee write requirements for a system that we do not know what it is supposed to do? The direction was supposed to come from the Education Committee. Participation from the Education Committee ranged from non-existent to inconsistent. We tried to get better input, but they did not seem interested.
The Technology Committee came up with something that resembled requirements, questions about what online education systems can do remained. Executive Director Kim Kiick suggested that we send out a Request for Information (RFI) to potential vendors.
As part of the RFI, the ANA requested that the interested vendors come to the 2018 World’s Fair of Money in Philadelphia to demonstrate their system. Three vendors answered the RFI, and three vendors came to Philadelphia to show their systems.
Two of the three demonstrations were informative. These were companies that provide online educational services to schools, training services for companies, and seminar services for many organizations. The third was a smaller company with a limited educational background but more knowledgable about numismatics.
The company with a limited educational background either was not able or chose not to provide a demonstration of their system. Since some members of the Board favored this company, they were given additional opportunities to answer how their system would meet ANA requirements.
For the next four months, there were significant discussions about what to do next. One member of the Board of Governors was pushing to use the company that could not provide satisfactory answers. It appeared as if this Governor had an agenda to have this company do the work rather than finding the right solution.
The cost was a significant concern. Creating any significant technical project has a very high upfront cost. Every aspect of the initial installation, configuration, integration, and initial operations has a higher price than continual maintenance and incremental updates.
Every indication that working with the company that could not provide satisfactory answers to our basic questions was a penny-wise solution. The company would be able to transition some existing software and make it work quickly. Where that decision would have been pound foolish would have come from the recent crisis because the questions that they could not answer would have been key to maintaining the system in this environment.
In other words, for a short-term win, the ANA would have been hit with a significant black eye when the COVID-19 pandemic drove everyone looking for online content. The proposed system may not have been able to scale, it was not mobile device friendly, and the authoring process is too restrictive to move quickly.
By December 2018, the Board agreed to open the process to competitive bidding. I worked with the headquarters staff to draft a Request for Proposal (RFP). The completed rough draft of the RFP was passed around for internal review.
Unfortunately, the process slowed down because of time restrictions for the understaffed headquarters and the volunteer Tech Committee. There was also a slowdown following the 2019 Board of Governors’ election. After the election, there was little guidance as to how the new president and Board wanted to proceed. The impression was that the new Board did not want to move forward.
The new Board of Governors took control at the 2019 World’s Fair of Money. Instantly everything stopped. Standing committees, whose members are appointed by the president, were left in limbo. There was little communication from President Steve Ellsworth, and nobody was sure what to do next.
It took over a month to hear from Ellsworth. Few people who were talking behind the scenes heard anything. It was known he wanted to make changes, but he was not communicating with anyone who would be impacted.
The silence was curious. The ANA announced the results in early July, and the World’s Fair of Money was four weeks later. Ellsworth was already a member of the Board and knew his way around. Why did he not have a transition? Instead, everything stopped for one month.
In early September, Ellsworth sent his guidelines for the Technology Committee. Missing from his objectives was online education. Regardless of the time and effort that occurred before the World’s Fair of Money, ANA President Steve Ellsworth eliminated the online education program.
According to his goals, it was to be replaced by an e-commerce system to sell goods from the ANA Shop in Colorado Springs.
Which is more important, the American Numismatic Association, a federally chartered organization to provide numismatic education, creating an educational initiative, or selling trinkets from the store? I will leave that as an exercise to the reader.
Much of the news this week was by media outlets announcing local coin shows.
While the big shows are delightful, local coin shows can be more fun. Smaller shows do not attract the type of crowd that you will see in a larger venue, like a convention center. Fewer people go to these local shows making it a more relaxed atmosphere.
Behind the tables at these shows are local dealers, some who may not be able to afford to set up at national shows. These are your neighbors. They are the ones you can go to for information and help you find that hard to find or intriguing coin.
The relaxed atmosphere of the small show makes it an excellent time to talk with everyone about collecting.
I will try to visit the Whitman Baltimore Expo in two weeks and the World’s Fair of Money in August. Between now and then, you might find me a few local shows in Maryland and Northern Virginia. Go check out a local show. You’ll be glad you did!
And now the news…
March 3, 2020
Maurice Jackson of Proven and Probable sits down with Andy Schectman, president of Miles Franklin Precious Metals Investments, to talk about ways to invest in precious metals. Maurice Jackson: Today we will discuss the merits of owning government minted coins versus private minted coins.
→ Read more at streetwisereports.com
March 6, 2020
A hoard of coins has been uncovered at a famous temple in southern India. Hundreds of gold coins were unearthed in a pot that could date back over a millennium, to when this area was part of the mighty Chola dynasty .
→ Read more at ancient-origins.net
March 6, 2020
POMEROY — The Meigs County Library in Pomeroy was the venue for a coin show presented by the OH-Kan Coin Club on Saturday which featured Bob Graham’s coin collection and some of his recent photo acquisitions.
→ Read more at mydailytribune.com
While thinking about how to grow the hobby, I was reading the numismatic-related news from around the world. What do other people consider when they are collecting coins?
Stories about buried coins or hoards of ancient coins generate a lot of interest. Whether it is builders and archeologists digging in the Middle East or metal detectorists hunting the British countryside, the stories about these finds make for exciting reading.
Unfortunately, the United States is a young nation compared to Europe and the Middle East. While it is possible to unearth coins in the United States, most metal detectorists report finding other artifacts and common coins. On the east coast, it is common to find bullets, buttons, and other metal objects from the colonial period to the Civil War. Although these finds are fascinating, it is not like finding a hoard of fused copper Roman coins.
Largest hoard of Roman coins found in Lincolnshire
(Image courtesy of the BBC)
Modern error coins seem to be of interest. News outlets in Great Britain and Australia regularly publish stories about an error someone found or sold online. Although these stories cause people to become treasure hunters, there have been reports that some have turned into collectors.
Interestingly, the United States experienced something similar with the discovery of the “extra leaf” error on the Wisconsin state quarter. People were already looking at the quarters in their pocket change. The possibility of finding the error increased interest.
First new £1 coin error found with missing detail on the thistle
Finally, when a mint issues a coin with a different, the interest grows. Both Royal Mint and the Royal Australian Mint issued coins with letters of the alphabet and an image of something that begins with that letter. The news created a buzz and new collectors in both countries.
The Royal Mint continues to use the 50 pence coin to create circulating commemoratives for significant milestones of British culture. Whether it is a coin celebrating the anniversary of Paddington Bear or the new dinosaur collection, British collectors appear to grow.
2018 Paddington Bear 50p reverse.
Recently, the U.S. Mint issued the quarter honoring the National Park of American Samoa with the reverse image of a fruit bat mother hanging in a tree with her pup. It is such an unusual design for a United States coin that it made the news.
It also has people talking about the coin. On a recent trip to the grocery store, I quickly looked at my change to see if anything was unusual. The cashier, whose accent suggested she was not a native of the area, asked if I was looking for “coins with the bat?” She was looking for one for her young son after a neighbor showed him the coin.
Through 2019, there were 50 coins released as part of the America the Beautiful Quarters program. Before the American Samoa quarter, these quarters only generated local interest, as the Fort McHenry quarter did in Maryland.
The only other coin that I can recall generating national interest was the 2014 National Baseball Hall of Fame Commemorative Coin. Aside from baseball’s popularity, the curved coin was something different.
Coins with bats. Paddington Bear. The alphabet. A curved baseball coin. What do these have in common? Each coin has a different theme and design that is appealing to the general public.
I love the image of the fruit bats!
The purist will argue that these are gimmicks. I will counter that if you want to grow the hobby, you need to give the people something that will interest them.
It is not enough to push the collecting of every Morgan Dollar varieties in the VAM catalog. Some people do not have that kind of patience. And you cannot blame that on younger collectors since I am one of those people. I find the study of VAM fascinating but not something I want to do.
However, if you release coins honoring the rock band Queen, I will order as soon as possible. I will watch with interest to see who else the Royal Mint honors. I am looking forward to coins honoring bands like the Beatles, Pink Floyd, and The Rolling Stones. I own their vinyl, why not own their coins!
Unfortunately, the U.S. Mint is bound by the whims of congress. They cannot create programs that could generate interest in the general public without permission. Someday, if congress could get its act together, maybe they will allow the U.S. Mint to create a yearly program around a theme.
Think about the possibilities. One year the U.S. Mint can have a five-quarter series of dinosaurs. Another year would be for great discoveries. Whatever themes are selected, make it something that will generate enthusiasm, and allow the U.S. Mint the freedom to produce coins that would generate interest. Even if it means introducing colored coins into circulation, it has not hurt Canadian coins!
If we are to grow the hobby, congress has to be encouraged to let the U.S. Mint pursue new markets. Hopefully, those who think that their way is the only way to collect will either accept new ideas to increase the hobby or step away and let the rest of us enjoy what we collect, even if it is not Barber coins.
Last month, the American Numismatic Association announced that they have partnered with Numismatic Guarantee Corporation (NGC) to launch the ANA Coin Registry.
According to the ANA press release, the ANA Registry will accept coins graded by NGC and Professional Coin Grading Service (PCGS). The ANA Registry will be the only service that will allow both NGC and PCGS graded coins.
NGC has been a partner with the ANA for 25-years making it a natural choice to implement this program. Since NGC once allowed PCGS graded coins to count in their registry program, the facilities continue to exist for them to create a similar program for the ANA.
Participation is open to any collector. ANA members will receive a special icon of recognition next to their sets.
What is missing from the registry is the ability to include ANACS and ICG graded coins. Regardless of the opinion of these companies, they are competitive services to NGC and PCGS with a legitimate niche in the market.
By excluding ANACS and ICG, the ANA is telling the public that they decided who the best third-party grading services are. It is not the job of the ANA to pick market winners. Let the collecting public decide.
One advantage that ANACS and ICG has is that there are no memberships required to submit coins for grading. Anyone can directly submit coins to either company. Although ANA members can directly submit coins to NGC without an additional membership, only PCGS members can submit coins for grading.
Allowing open submission policies will allow for more people to participate. They can collect what they like and send it to ANACS and ICG without having to spend extra money or rely on a member. It will create greater access to casual collectors who might become more series if they can participate.
Could there be other reasons for not including ANACS and ICG? Since anyone can submit coins to ANACS and ICG, how will the dealers make money? If a collector buys a coin online or from another collector and sends their coins to ANACS or ICG for grading, how will the dealers make money?
Further, dealers have their own biases. They decided which grading service they like the best based on many factors, including perception and financial reasons. Whatever these reasons are should not be the policy of the ANA.
If the ANA is to fulfill its mission to encourage people to study and collect money and related items, then they cannot be picking market winners and losers. The ANA must revisit this policy and include the entire market without bias.