2018 Winter Olympics Medals Unveiled

On Thursday, September 21, 2017, the PyeongChang Olympic Committee unveiled the design of the medals that will be awarded during the 2018 Winter Olympics.

2018 PyeongChang Winter Olympics Medals

According to the PyeonChang Olympic Committee, the design of the metals is inspired by Korean culture and traditions. The texture of the metals are intended to symbolize tree trunks representing the trees symbolizes the work that has gone into developing Korean culture. Edge lettering includes did the games in both English and Korean.

The ribbon that will be used on the medals has been created using Gapsa, a traditional Korean fabric that is used to make Hanbok. Hanbok is a type of traditional Korean dress.

The medals were designed by Lee Suk–woo, serves as a Director of Dongwon Metal Co., Ltd. Lee is the company’s General Manager and creative director. He is a graduate of Eastern Michigan University.

Medal Specifications

  • GOLD: 586 grams made from .999 silver and plated with 6 grams of gold
    $566.55 melt value with a silver spot price of $16.87 and gold spot price of $1289.30
  • SILVER: 580 grams made from .999 silver
    $317.84 melt value with a silver spot price of $16.87
  • BRONZE: 493 grams made from .900 copper and .100 zinc
    $2.97 melt value with a copper price of $2.8837 per pound and zinc price of $1.3932 per pound
  • All medals are 92.5 mm in diameter period
  • Medals range in thickness from 4.4 mm at its thinest to 9.42 mm at its thickest

Medal Design

Uses consonants of Hangeul, the Korean alphabet system extended across the face of the medal from its side

  • Obverse: Olympic rings
  • Reverse: Discipline, event, and PyeongChang 2018 emblem
  • Edge: Official title of the PyeongChang 2018 Games in the Korean consonants

Medal Case

  • Wooden cased designed with curves witnessed in Korean traditional architecture as the motif translated into a modern concept
  • Contains the medal, medal description, the IOC badge, and medallist note

Wooden case given to 2018 PyeongChang Winter Olympics medalists

Medal Production

Quantity: total 259 sets

  • 222 to be awarded to athletes (102 medal events)
  • 5 sets as contingency in case of tie
  • 25 sets to be submitted to the IOC
  • 7 sets for display in Korea

Produced by the Korea Minting, Security Printing & ID Card Operating Corporation (KOMSCO)

All images courtesy of the 2018 PyeongChang Olympic Committee.

American Liberty Four Silver Medal Set Price Announced

American Liberty Four Silver Medal Set will be on sale on October 19, 2017 at Noon ET for $199.95

The U.S. Mint did you publish in the Federal Register last week that the American Liberty 225th Anniversary Silver Four-Medal set will be priced at $199.95.

The American Liberty Four Silver Medal Set are four silver medals featuring the gold 225th Anniversary American Liberty Gold design struck in silver and without a denomination. Each medal will contain one troy ounce of silver and consist of one medal from each of the active mints with different finishes:

  • Philadelphia Reverse Proof
  • San Francisco Proof
  • West Point Enhanced Uncirculated
  • Denver Uncirculated

It was previously announced that the set will go on sale at noon on October 19, 2017.

POLL: Are you interested in the remaining U.S. Mint special collectibles?

Not including the regular issues that will be sold by the U.S. Mint, the items left on their schedule is the American Liberty Four Silver Medal Set and the American Palladium Eagle.

American Liberty Four Silver Medal Set will be on sale on October 19, 2017 at Noon ET

I previously discussed the Palladium Eagle. The american Liberty Four Silver Medal Set are four silver medals featuring the gold 225th Anniversary American Liberty Gold design struck in silver and without a denomination. Each medal will contain one troy ounce of silver and consist of one medal from each of the active mints with different finishes:

  • Philadelphia Reverse Proof
  • San Francisco Proof
  • West Point Enhanced Uncirculated
  • Denver Uncirculated

Although the price has not been announced, given the current 225th Anniversary American Liberty Silver Medal $59.95, it is within reason to predict that the four medal silver set with special packaging will cost around $250 (plus-or-minus 15-percent).

The poll question of the day is are you going to buy these items?
 

Are you interested in the remaining U.S. Mint special collectibles?

I am just not interested (42%, 18 Votes)
I will buy the American Liberty Four Silver Medal Set (23%, 10 Votes)
These items are too expensive for my budget (14%, 6 Votes)
I am going to buy both (12%, 5 Votes)
I will buy the American Palladium Eagle (9%, 4 Votes)
I might consider them but buy them on the secondary market (0%, 0 Votes)

Total Voters: 43

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Image courtesy of the U.S. Mint.

What’s with the silver Liberty Medals?

I have delayed writing about my happenstance to attend the Whitman Baltimore Expo waiting for more information on something that was on display at the U.S. Mint booth.

I was not going to visit the Whitman Expo on April 1 because I had a meeting scheduled with a client. After the client canceled, I decided to turn the truck to downtown Baltimore toward the Convention Center. One of the reasons for going was to see the 2017 Liberty Gold coin. I thought it would be my only chance to see the coins since it is unlikely I will purchase one. When I walked to the U.S. Mint booth in Hall C, the gold coin was in a display case. What was next to it was far more intriguing.

On a spinning stand were two silver medals using the same design as the gold Liberty coin. One was a proof with a “W” mintmark on the reverse and the other a reverse proof with a “D” mintmark. The look of the medal in silver was fantastic! The eagle on the reverse really stands out on the proof whereas the calming look of the burnished finish of the reverse proof shows real artistry.

Further examination of the pictures suggests that the reverse proof may be considered enhanced uncirculated where the U.S. Mint laser treats dies to change the texture of the strike.

It appears that the medals are the same size as the silver planchets used for the American Silver Eagle coins. If they are using the same planchets, they would be 38.1 mm in diameter of one troy ounce of .999 silver.

The U.S. Mint did not announce the production of silver Liberty medals. U.S. Mint personnel attending the booth were not able to provide additional information. Email inquiries have not yet been answered.

NOTE: Readers of the “Numismatic World Newsletter” were provided a preview of the medals. The newsletter consists of numismatic-related news from non-numismatic sources and a brief article that will not be posted here. Sometimes, I will send items to subscribers before appearing on the blog. Click here to subscribe!

HOLY COW!

Congratulations to the Chicago Cubs!
It only took 108 years!
I guess they need an update to the poem “Baseball’s Sad Lexicon
Tinker to Evers to Chance.

Obligitory numismatic content:

Cubs numismatic collectibles

Cubs numismatic collectibles can be purchase from the Highland Mint or MLBShop.com

Credits

What do you think it’s worth?

1809 Madison Indian Peace MedalFinding coins in pocket change can be a lot of fun. Then there are those who find hoards of coins buried in the ground or just stored somewhere that people forgot. From shipwrecks to treasure hunts, we all dream of finding the next jackpot somewhere.

On your great grandfather’s farm, a worker was plowing the field and found a silver medal. It has the image of President James Madison on one side and what looks like a peace medal on the other. Rather than letting go, great grandpa traded three hogs for the medal.

The medal gets handed down from generation to generation until one of his ancestors takes the medal to Antiques Roadshow to find out what it is worth.

You are told that it is a silver James Madison Indian Peace Medal. The 1809 medal was designed by assistant engraver John Reich and struck at the U.S. Mint in Philadelphia. It is not the largest of the medals but at 2½-inches, it is a fairly significant medal.

What is it worth? See what Jason Preston of Jason Preston Art Advisory & Appraisals of Los Angeles said about the medal on Antiques Roadshow:

Did you guess right?

Image and video courtesy of WGBH and the Antiques Roadshow

Toying with a Challenge Coin

toysfortotslogoToys for Tots is a charitable organization founded in 1947 by Major Bill Hendricks, a U.S. Marine Corps Reserve officer. MAJ Hendricks was inspired by his wife who wanted to donate a homemade Raggedy Ann doll to a needy child in the Los Angeles are but could not find an organization that could help. He organized other reservists and collected 5,000 toys to distribute in the Los Angeles area during the Christmas season.

Although Toys for Tots has been only accepting new toys since 1980 because of the time to process used toys, every year the organization collects millions of toys to make Christmas brighter for children who would not otherwise receive toys. It is consistently rated one of the top charities in many different rankings and can boast one of the largest program to support services ratio. In 2015, Toys for Tots reported that only 3-percent of their monetary donations were used for administrative and support services.

Charities are trying to survive as donations have fallen since the Great Recession of 2008. Their balance sheets are getting better but many have not recovered to pre-recession levels. When they mail their letters asking for donation, most charities have added “prizes” to their request in order to get your attention. Some of the usual gimmicks have been address labels, stamps to mail back the donation, and some have added a nickel to the response form asking that it be returned with the donation. I have also received a lot of stickers and religious-based charms.

As a supporter of Toys for Tots, I recently received a request for donation. Rather than having any of the usual gimmicks a medal was attached to the request. Not an ordinary medal but a bronze medal for the Toys for Tots program. The 26mm medal (a quarter is 24.26mm) features the Toys for Tots logo on one side and the U.S. Marine Corps logo on the other. The 2mm thin (a quarter is 1.75mm) medal has an antiqued finish.

A tradition of military organizations is the presenting of challenge coins. They are part of military tradition that started during World War I when Ivy League students went to war and created these coins as an act of camaraderie. Typically, a challenge coin is a small medal, usually no larger than 2-inches in diameter, with the insignia or emblem of the organization. Two-sided challenge coins may have the emblem of the service on the front and the back has the emblem of the division or other representative service. Challenge coins are traditionally given by a commander in recognition of special achievement or can be exchange as recognition for visiting an organization.

While the size of this Toys for Tots medal is smaller than the typical challenge coin, it can be considered a challenge coin. A challenge coin given by the Marine Foundation to their donors in recognition of the support of the organization.

I appreciate the recognition from the Marine Foundation and will continue to be a supporter for the Toys for Tots program.

The Eagle Has Landed

Apollo 11 InsigniaIt was July 20, 1969, Neil Armstrong and Edwin “ Buzz” Aldrin, made history by being the first humans to land on Earth’s only natural satellite. A mere 238,900 mile trip began with the launch of the Saturn V rocket from the Kennedy Space Center on July 16, 1969, with Michael Collins who orbited over the moon in the command module, the trip fulfilled the promise of President John F. Kennedy who said to congress on May 25, 1961, “I believe that this nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to the earth.”

Kennedy would have been pleased with the events of 47 years ago, today.

Michael Collins design the mission insignia. Collins said that he wanted a symbol to represent a “peaceful lunar landing by the United States.” He also left the names of the astronauts off of the insignia so that it would represent everyone who worked on the mission. It is one of the few mission insignias that does not include the name of the astronauts.

Apollo 11 flown silver Robbins Medal once owned by Wally Schirra

Apollo 11 flown silver Robbins Medal once owned by Wally Schirra

The first numismatic-related item that used the Apollo 11 mission insignia were the medals made by the Robbins Company of Attleboro, Massachusetts. Although there were many space-flown numismatics that have surfaced over the years, the most famous from Apollo 11 was the sterling silver Robbins Medal that was presented to Wally Schirra by Neil Armstrong. Armstrong and Schirra were good friends. He gave the medal to honor his friend, the first three-time astronaut who retired just before the Apollo 11 flight.

This medal was sold for $33,460.00 on April 18, 2013 by Heritage Auctions.

In March, before the Apollo 11 launch, President Dwight Eisenhower died of congestive heart failure at the age of 78. To honor the late president, congress passed the bill to produce what ended up to be the last large dollar coin with the portrait of Eisenhower. It was Rep. Bob Casey (D-TX) who remembered that Eisenhower created NASA and proposed that the reverse of the coin use the Apollo 11 mission insignia rather than just a heraldic eagle.

The Eisenhower dollar was released in 1971 and struck until 1978. Other than relief and varieties, the only design change was made in honor of the nation’s bicentennial in 1975-76.

Beginning in 1976, the U.S. Mint was looking to reduce the costs of coin production and was testing different shapes and compositions for a new dollar coin. In order to appease the powerful vending machine industry, the result was a coin that was too similar in size and composition to the quarter dollar. Congress made the decision to honor Susan B. Anthony and leave the Apollo 11 mission insignia on the reverse.

Chief Engraver Frank Gasparro designed the reverse for both the Eisenhower and SBA dollars using the Apollo 11 mission insignia. An iconic design even though the coins were less than successful.

Credits

  • Apollo mission insignia courtesy of NASA.
  • Apollo 11 flown Robbins Medal courtesy of Heritage Auctions
  • Coin images courtesy of the U.S. Mint.

A Token of Brexit

A few weeks ago I wrote about the potential effects of Brexit on markets should the Brits vote to leave the European Union. When the OUT vote won by a slim margin, there was an instant worldwide reaction. In the subsequent weeks, we have seen world markets react to everything. After an initial fall in markets because of Brexit they have recovered only to be sent back into uncertainty with world events.

The London PM Gold Fix was $1,265.12 before the polls closed on June 23. The next day, the London PM Gold Fix closed at $1,315.50 (4-percent increase). On July 15, the PM Gold Fix closed at $1,327.00, 4.9-percent increase since the vote. Experts are saying gold could continue to climb at the 4-percent rate for the near future.

Silver has been on a slow and steady rise for most of the spring also saw a bump following the Brexit vote. When the London Silver Fix closed at $17.29 on June 23, this was already a $3.29 increase (23.5-percent) from the January 4 first close of 2016 price of $14.00. After the results were announced, London Silver Fix closed at $18.04, a 4.3-percent increase. With the London Silver Fix closing at $20.14 on July 15 (16.48-percent increase), some pundits are suggesting that silver will continue to outperform gold for the near future.

When I wrote about Brexit, I also mentioned the “In/Out UK EU Referendum Medallion” produced by Chard(1964), a British metals dealer. After the post, the folks at Chard saw a small bump in sales from collectors the United States from a few of my readers. I was not paid to mention the medal. I just found the information online and thought it was an interesting idea. Shortly before the vote, someone at Chard contacted me and offered to send me some medals.

After a swim across the pond, the medals arrived in my physical mail last weekend. Even though I thought Brexit was a bad idea, the medals are still very cool. Design is the same on both medals. One is copper and the other is Abyssinian Gold, a type of brass made of 90-percent copper and 10-percent zinc that has a gold-like color. Medals are 31mm in diameter and weighs 14 grams making it a nice sized coin for flipping.

Chard sent two sets of the medals. I will keep one set and donate the other to my coin club’s annual auction whose proceeds will benefit the Scouts and other numismatic-related education in our region.

It appears that these medals can still be purchased for £2.95 each ($4.33 at the current exchange rate) plus shipping (estimated at £6.00 or $8.80) directly from Chard’s website. I am not making money from this endorsement. I just think it’s a fun collectible!

Static charts courtesy of Kitco.

Brexit? Flip a coin

Brexit reminds my of The Clash's song Should I Stay Or Should I Go?

Brexit reminds my of The Clash’s song “Should I Stay Or Should I Go?

While there is enough going on with U.S. politics to make one’s head spin, on Thursday, June 23 the United Kingdom will hold a nationwide vote on whether the U.K. should leave the European Union. The last time the U.K. held a referendum on joining the E.U. was in 1975, which predates the modern European Union. It is called “Brexit,” a portmanteau of the term “Britain Exit,” as in should Britain exit the E.U.?

The European Union was formed after World War II in various forms in an attempt to collectively rebuild Europe by integrating their resources. The first formal attempt was the Treaty of Rome in 1957 signed by Belgium, France, Italy, Luxembourg, the Netherlands and West Germany to create the European Economic Community (EEC) and established a customs union. What we know today as the European Union was established when the Maastricht Treaty became effective in 1993.

As part of the integration under the E.U. is the common currency known as the Euro. First distributed in 1999 with 14 participating nations, now includes 19 of the 28 nations plus the Vatican, Monaco, and San Marino who are not formally members of the E.U. The United Kingdom (England, Northern Ireland, Scotland, and Whales) continues to use the pound sterling, sometimes referred to the Great Britain Pound. Ireland, sovereign from the United Kingdom, uses the euro.

British Prime Minister David Cameron

British Prime Minister David Cameron

The U.K. is holding this vote because Prime Minister David Cameron promised to hold this vote as part of his 2015 campaign. When the Conservative Party won the majority of seats in Parliament, Cameron, as party leader, was elected by Parliament to serve as Prime Minister.

Interestingly, many of the arguments for leaving the E.U. are similar to those being applied by the apparent nominee for the Republican Party in the United States while those campaigning to remain in the E.U. are similar to the apparent Democratic Party nominee. It just goes to prove that regardless of which side of the pond you live, politics is polarizing.

For those of us Yanks who want to learn more, BBC News has published a good overview with links to more in-depth that you can click here to read it, if interested.

So why is this significant for a coin collector’s blog? We do look at economic matters affecting collecting including those whose collection are being put together for speculation including the purchase of bullion-based numismatics. Also, the outcome could not only affect the world economic system but could also have an impact for those who collect foreign coins.

If the U.K. votes to remain in the E.U. then the status quo remains. The British will go back to their partisan politics and scratch their heads over the U.S.’s partisan politics known as the 2016 presidential election. Markets that have tightened in anticipation of what Brexit may mean could see this as a temporary reprieve.

If the U.K. votes to leave the E.U. the markets may not like it and the economy can go into a freefall. Markets do not like uncertainty and a vote for the U.K. to leave the E.U. would bring about the uncertainty of “what happens next?” and “now what?” Business leaders, who are largely in favor of remaining the in E.U., has noted that it makes it easier for them to move money, people and products around the world. What happens when those doors are closed?

As we have seen when economies are uncertain, markets react by selling off speculative assets, like stocks, and running to safer investments like trustworthy bonds and precious metals. In the last three weeks in the run up to Brexit, gold is up $56 (4.6-percent) in the last three weeks and silver is up $1.41 (8.8-percent). Both are off their annual highs set on June 16 when published polls are suggesting that Stay has a lead greater than the margin of error over Leave.

NOTE: Charts do not update

Sample of the ballot that will be used for the EU Referendum "Brexit" vote

Sample of the ballot that will be used for the EU Referendum “Brexit” vote

It is likely that world markets will decline and precious metals will go up on Thursday as investors try to figure out how the Brits will vote. Polls close in the U.K. at 2200 GMT, which is 11:00 PM in London and 6:00 PM on the east coast of the United States. There are 382 polling districts throughout the country. Each district is counted and forwarded to one of 12 regional centers. Once the regional center verifies the counts it will be forwarded to a chief counting officer that will announce the results at Manchester Town Hall. BBC suggests that results should be reported starting at 4:00 AM or 11:00 PM on the U.S. east coast.

Market watchers can watch what happens to the Tokyo Nikkei 225 market index and Hong Kong’s Hang Seng Index. Both are the major indexes in the Asia/Pacific region and will be around their midday trading sessions on Friday.

Collectors looking for something numismatic to add to their collection might want to consider the In/Out UK EU Referendum Medallion produced by Chard(1964), a British metals dealer. These copper medals were produced for the Britons who were undecided. Flip the medal before you vote to decide whether to remain or leave. The Remain side has the E.U. flag surrounded by “Remain,” “Better Together,” “United,” and “Stronger in Europe.” The Leave side has the British Union Jack with “Brexit,” “Independence,” “Leave,” and “Sovereignty.”

Medals are 31mm in diameter and weighs 14 grams. They come in pure copper or Abyssinian Gold, a type of brass made of 90-percent copper and 10-percent zinc that has a gold-like color. They can be purchased for £2.95 each ($4.33 at the current exchange rate) plus shipping (estimated at £6.00 or $8.80) directly from Chard’s website.

Credits

  • Brexit combined flags image: Credit Philippe Wojazer/Reuters via the New York Times.
  • Image of PM Cameron is an official photo downloaded from Wikipedia.
  • Static metals graphs courtesy of Kitco.
  • Referendum Ballot image courtesy of Wikipedia.
  • Brexit Medal images courtesy of Chard.

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