Weekly World Numismatic News for July 3, 2022

As I returned from two weeks off, I noticed that the Anti-Counterfeiting Educational Foundation (ACEF) warned about Chinese counterfeits using the example of a gentleman in Texas who was scammed by buying counterfeits.

According to the report, “Oliver” paid $1,000 for counterfeit coins. As part of the order, Oliver paid $499 for an American Gold Eagle that the U.S. Mint sold for $1,950. He paid $499 for 50 alleged American Silver Eagles that would have been worth $40 each and received fakes.

Some of the counterfeit coins were received by a Texas investor.

If Oliver had done a little due diligence, he would not have been scammed out of $1,000. Sure, he will work with his credit card company to recover his money, but that may be $1,000 that the credit card company has to absorb. The credit card company will try to recover the money from the scammer, but the process will cost money.

Remember, credit card companies do not absorb these losses. They will raise service charges and interest rates to compensate for the losses. Oliver might be made whole, but we will all pay for his lapse of judgment.

Before you purchase these alleged “good deals,” please remember my rules:

  1. NO LEGITIMATE DEALER IS SELLING BULLION COINS FOR BELOW THE SPOT PRICE!
  2. IF THE DEAL IS TOO GOOD TO BE TRUE, IT LIKELY IS NOT A GOOD DEAL!
  3. IF THE DEALER DOES NOT IDENTIFY THEMSELVES ON THEIR WEBSITE, THEY ARE LIKELY HIDING SOMETHING!
    Check the “About” or “Contact” page. If there is no address, then they are hiding. If the address is in China or the Middle East, they will sell you counterfeit merchandise. If there is an address, go to Google Maps and see what is really at the address.
  4. IF THERE ARE ANY QUESTIONS, THEN DO NOT PURCHASE THE COINS!
    There is no harm in asking for help. Talk to a dealer. If you do not know a dealer, reach out to an expert affiliated with the Accredited Precious Metals Dealer program (www.APMDdealers.org) or the Professional Numismatists Guild (www.PNGdealers.org). Or ask me! Using my background as a (now retired) information security specialist, I can tell you if I think a scammer created the website.

Please! Please! Please! Do not give these scammers your credit card information. You will be ripped off, and they will likely steal your credit card information, leading to other problems.

And now the news…

 June 29, 2022
WATERLOO REGION — Waterloo Region’s club for coin enthusiasts has been recognized for using the internet to keep members connected during the pandemic. The Waterloo Coin Society was named club of the year by the Royal Canadian Numismatic Association, the national organization for coin collectors.  → Read more at therecord.com

 June 30, 2022
A hoard of Roman gold coins hidden in the decades before the Roman invasion of Britain has been discovered.  → Read more at bbc.com

 July 1, 2022
"What looks and feels like a real paper money, but doesn't work?" Well, obviously, that is Russian paper money. Russian Central Bank officially introduced the updated 100 rouble bill today.  → Read more at afterdawn.com
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Weekly World Numismatic News for June 26, 2022

Even though I spent the week relaxing, the news continues. Here are three significant stories from this past week.

New Mint Director

Ventris C. Gibson, 41st Director of the U.S. Mint

The Senate confirmed Ventris C. Gibson as the 41st Director of the United States Mint. Gibson is the first African American to hold the post. The president nominated Gibson on January 7, 2022, after appointing her as Deputy Director and Acting Director. Her confirmation was on June 22, 2022.

Compared to previous appointments, the Senate acted with lightning speed to fill the vacancy left by David J. Ryder. Ryder’s resignation. The position was vacant for 264 days.

New Treasurer

Chief Marilynn “Lynn” Malerba, 18th Chief of the Mohegan Tribe and the 45th Treasurer of the U.S.

The president appointed Chief Lynn Malerba to serve as Treasurer of the United States and lead the newly established Office of Tribal and Native Affairs. Chief Malerba is the first Native American to serve as the nation’s Treasurer.

Chief Marilynn “Lynn” Malerba became the 18th Chief of the Mohegan Tribe in 2010 and is the first woman to serve in this position in the Tribe’s modern history. Chief Malerba earned a Doctor of Nursing Practice and Masters in Public Administration degrees, and she has advocated for tribal health and management throughout her career.

Since the Federal Reserve Note includes the signatures of the Treasury Secretary and the Treasurer, it will be the first time in United States history that both signatures on the currency will be women.

New Numismatic Auction Record

2021 Nobel Peace Prize Medal sold for $103.5 million with proceeds going to charity (Image courtesy of Heritage Auctions)

In 2021, the Nobel committee awarded Russian journalists Dmitry Muratov and Maria Ressa the Nobel Peace Prize for “their efforts to safeguard freedom of expression, which is a precondition for democracy and lasting peace.” Even though their news outlet, Novaya Gazeta, was closed because of the war, both have worked tirelessly to bring the truth to light and help stop the war.

Muratov, the editor-in-chief at Novaya Gazeta, decided to sell his Nobel Peace Prize medal to raise money for Ukrainian relief. Heritage Auctions hammered closed the auction for a record $103.5 million. All proceeds were paid to UNICEF’s aid efforts for Ukrainian children and their families displaced by war. It is a record sale for any Nobel medal and any numismatic item.

And now the news…

 June 19, 2022
The mighty gold often overshadows its cousin silver, but did you know that its price jumped 70% the last year? From $15.5 per ounce, silver is now traded at $27 an ounce worldwide.  → Read more at newsweekme.com

 June 21, 2022
Amateur metal detectors have found a Viking-era cache of silver coins and jewellery in a field in Mynämäki in southwest Finland, the Finnish Heritage Agency has reported in a press release.  → Read more at yle.fi

 June 24, 2022
TBritain’s Central Bank will remove bank notes worth 14.5 billion pounds, or nearly $18 billion, from circulation by Sept. 30, as it seeks to retire its remaining paper currency in favor of polymer bills. The transition will make Britain the world’s largest economy that uses only plastic-like bank notes.  → Read more at washingtonpost.com

 June 24, 2022
SN 1054 was almost wholly absent from the Western record—except, potentially, for a subtle hint at it in the most unlikely of place: some Byzantine coins.  → Read more at phys.org

 June 25, 2022
Back in 1951, shortly before I was born, my father had a very challenging job. He worked at a tavern in a very rough Chicago neighborhood on East 51st Street. One very special day for me, anyway, a customer came into the tavern, ordered a drink, and paid for it with a half dollar.  → Read more at americanthinker.com
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Weekly World Numismatic News for June 19, 2022 on the 20th

Now is the time for all exhausted people to take a necessary vacation. If you are tired of the pandemic, need a breather, worked your behind off, and have not taken a break, it is time you take a break.

Disconnect from the world and go away. Rent a boat and go out into the middle of the ocean and enjoy the view. The sound of the boat’s engine and the wake it leaves behind is symbolic of washing away the cares and worries of the day.

Yes, I am on holiday and relaxing. It is time to get away and enjoy myself after starting a business and ensuring it survives through the pandemic. Change is coming but not before I recharge the batteries. Even after driving over 10 hours and spending two days away, I recommend going away to just relax. I know the price of gas is up along with everything else. Then go for one week instead of two. Leave for an extended weekend. Find a bed and breakfast of a lovely Airbnb somewhere and just go. Having a break is good for your mental health. And what good is collecting if your mind is scattered in the doldrums?

In the meantime, if I find anything fun in numismatics, I will let you know.

And now the news…

 June 10, 2022
The American Women Quarters Program aims to celebrate and honor women who have made history in the US. This week, Wilma Mankiller was honored, and she will be featured on a limited quantity of US quarters. Mankiller was the first women to serve as principal chief of a major American Indian tribe.  → Read more at thehill.com

 June 14, 2022
It is increasingly common to see various options on the Internet for collectible products, such as coins, action figures, artistic pieces and even banknotes that are currently in circulation in Mexico.  → Read more at california18.com

 June 14, 2022
The new Bela Lyon Pratt Gallery of Numismatics at the Yale University Art Gallery showcases objects from the museum’s numismatics collections — rare and unique coins, medals, and paper money. The Circus Maximus, the stadium where Romans gathered by the tens of thousands to watch chariot races and other spectacles, had lap counters shaped like dolphins.  → Read more at news.yale.edu

 June 19, 2022
It would undoubtedly be strange that among the coins most sought after by collectors, and therefore most appreciated, is the paltry 1 cent coin. Rare one-cent coin – Nanopress.it  → Read more at hardwoodparoxysm.com
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Weekly World Numismatic News for June 12, 2022

1943-S Steel Cent

Over the last few weeks, I have been answering questions about the 1943 Steel Cent. The questions asked about the coin’s authenticity, and people asking where they could purchase one.

Copper was a crucial element in making bullets for the war efforts. With the production of war materials increasing, congress and the U.S. Mint thought that striking the cent using another metal would help. After testing different materials in 1942, the U.S. Mint selected a zinc-coated steel planchet. In 1943, the U.S. Mint produced 1,093,838,670 steel cents between the three mints.

The coins were not well received by the public. Their size and lighter weight caused many people to confuse the steel cent with the dime. The zinc coating would wear as the coin circulated, allowing rust to form on the steel.

With over 1 billion coins struck, there are plenty of opportunities to collect steel cents. At the time, some people saved rolls, and others put the coins aside because they did not like to use them. They can be purchased online or from many dealers.

When looking for steel cents for a collection, look for a coin that continues to show its zinc color. The zinc will be a semi-bright silvery color that does not have a very shiny look. Grey-looking and dark grey coins have been handled and should be less expensive.

Nice examples of Steel Cents are not expensive. With over 680 million struck in Philadelphia, uncirculated examples of those coins cost $2.50 – $3.00. There were over 210 million struck in Denver, uncirculated 1943-D steel cents will sell for $3.25 – $4.00. There were fewer steel cents struck in San Francisco. Over 190 million struck, uncirculated 1943-S coins cost $5.00 – 6.50.

When buying coins for your collection, be careful with coins that look shinier than others. These coins may be reprocessed Steel Cents. Reprocessed steel cents are real coins but have a new coating of polished zinc. While they are pretty coins, numismatists consider these coins damaged and advise not collecting them if you are looking for value.

Rather than continuing to use the steel planchet, the U.S. Mint used copper recovered from the spent shell casing used for ammunition. The shell casing came from the training fields in the United States and not from the battlefields.

In 1944 and 1945, spent ammunition provided the copper used to strike Lincoln Cents. These coins are known as shotgun case cents and are darker than other copper coins because the smelting process could not remove all of the impurities from the ammunition.

There are famous 1943 Lincoln Cents struck on copper planchets, and 1944 cents struck on steel. These are rare coins and not as readily available.

The 1943 Steel Cent is the only circulating coin ever produced by the United States Mint that does not contain copper. Collecting a complete three-coin set adds a historic coin to your collection at an affordable price.

And now the news…

 June 6, 2022
Prague, Czech Republic – A rare ten-ducat coin dating from the 17th century sold for more than 10 million Czech crowns (about €4 million) at an auction held in Prague on Saturday. The ten-ducat coin was minted in Prague during the reign of Frederick the Great in the early 17th century.  → Read more at kafkadesk.org

 June 7, 2022
Hyderabad: Security Printing and Minting Corporation of India Limited (SPMCIL) is organising Azadi Ka Amrit Mahotsav celebrations from June 6 to 13 in all its units. As a part of the celebrations, India Government Mint, Hyderabad, is inaugurating the coin museum at Saifabad Mint on June 7.  → Read more at thehansindia.com

 June 7, 2022
Centuries-old shipwrecks complete with gold coin treasure have been discovered off Colombia.  According to officials, Colombian naval officials conducting underwater monitoring of the long-sunken San Jose galleon discovered two other historical shipwrecks nearby.  → Read more at presstv.ir

 June 8, 2022
A SELLER on eBay recently had some luck with his coin collection – selling it for nearly $3,500. The collection featured Lincoln steel pennies that mostly bared the 1943 dates, according to the seller.  → Read more at the-sun.com

 June 10, 2022
The U.S. Mint released the first quarters featuring Wilma Mankiller, who was the first woman named Chief of the Cherokee Nation.  → Read more at poncacitynow.com
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Weekly World Numismatic News for June 5, 2022

The college-age child of a friend accepted a summer job in London and went early to witness the Queen’s Platinum Jubilee. Earlier today, I joined my friend on a video talk with the group of U.S. students staying in a London hotel.

During the discussion about the atmosphere around the streets of London, I asked about coins and medals that they encountered. All of the students found a 50 pence coin issued by the Royal Mint, and almost every shop and street vendor carried the coin they included in making change.

Other souvenirs the group collected are aluminum tokens with images commemorating the jubilee. The tokens were reminiscent of Mardi Gras tokens. Some found tokens that were the size of the old large penny with images of the Queen at various ages.

A few found currency-looking commemoratives, and they were designed as £70 notes with images of the Queen. The reverse has the name and address of a London business using the notes as an advertising opportunity.

The jubilee celebration is over, but the collectibles will live on.

And now the news…

 May 31, 2022
JEDDAH: For artist Hisham Al-Najjar, painting on canvas or papers is conventional. Instead, the Jeddah-based artist uses pennies and other international coins as the backdrop for his impressive paintings.  → Read more at arabnews.com

 June 1, 2022
There is a coin worth up to 40.000 Euro! It sounds crazy, but coin collecting also has these little rarities. Coins that, due to their unobtainability and value, are likely to be worthy of becoming part of the museum’s collection.  → Read more at hardwoodparoxysm.com

 June 2, 2022
There's a new trend that has been sweeping YouTube with hundreds of videos — one that claims you can earn hundreds, or even thousands, of dollars with this hobby. It's called “coin roll hunting.” And it's pretty much exactly what you imagine it is: searching through rolls of coins to hunt for collectible and valuable coinage.
  → Read more at outsiderclub.com
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Weekly World Numismatic News for May 29, 2022

2022 National Purple Heart Hall of Honor Proofs

National Purple Heart Hall of Honor 2022 Three-Coin Proof Coins (U.S. Mint Image)

The first recorded organized public recognition of the war dead occurred on May 1, 1865, in Charleston, South Carolina. On that day, Freedmen (freed southern slaves) celebrated the service of the 257 Union soldiers buried at the Washington Race Course (now Hampton Park). They labeled the gravesite “Martyrs of the Race Course.” African Americans continued that tradition and named the celebration Decoration Day.

Memorial Day took on national significance following World War I when the nation began to recognize all those who gave the ultimate sacrifice during all conflicts. By the end of World War II, most of the celebrations were renamed to Memorial Day. Memorial Day did not become an official holiday until 1967 with the passage of the Uniform Holidays Act (sometimes referred to as the Monday Holiday Bill). The law set Memorial Day to the last Monday in May, changing it from the traditional May 30.

The modern Memorial Day is a holiday celebrating the lives of those sacrificed in defense of the United States and its ideals at home and abroad. We honor the memories of those who paid the ultimate sacrifice so that we can collect what we like. They have gifted us the freedom so that I can write this blog and you can read and share it with others.

And now the news…

 May 24, 2022
The Modiin haul. The seizure featured a historically significant silver shekel.  → Read more at news.artnet.com

 May 25, 2022
The Royal Mint has created the largest ever coin in its 1,100-year history in celebration of the Queen's Platinum Jubilee.   → Read more at penarthtimes.co.uk
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Weekly World Numismatic News for May 22, 2022

Sorry… we are one day late for many reasons including just being tired. More to come.

One of the cans found as part of the Saddle Ridge Gold Coin Hoard

As the weather warms up in the United Kingdom, so are the stories about metal detector finds. It is fascinating reading about metal detector finds from the fields in the UK because the coins are older and hold more history.

Of course, the metal detectorists are looking for treasures. Few save any of the coins they find. They will consign the coins to an auction and collect the payment. The coins will end up in the hands of collectors and museums that will enjoy them for years to come.

I have never been interested in exploring with a metal detector. In the United States, most finds are limited to the 200-300 years. Detectorists find belt buckles, watches, rings, some coins, and other items dropped along the way. But nothing compares to finding coins from over 1,000 years ago or medieval coins from 500 years ago.

These unburied coins are sometimes the only record of history. Recently, a hoard revealed a problem with inflation during the Roman Empire that taught historians about ancient economics.

I am not saying that there are no exciting finds in the United States. The Saddle Ridge Gold Hoard is a recent example, but the finds in England and the rest of Europe can change our knowledge of history.

I do not know if I will be able to go to Europe to see if I can find a treasure, but it is interesting to watch from afar.

And now the news…

 May 13, 2022
One of only three known gold examples of the “Eid Mar” aureus A small but potent piece of history is up for sale in Zurich this month, when Numismatica Ars Classica offers one of only three known examples of the “Eid Mar” aureus, celebrating the “liberation” of Rome after the bloody assassination of the dictator Julius Caesar on the Ides of March in 44BC.  → Read more at ft.com

 May 18, 2022
Britain’s Royal Mint unveiled a special new commemorative rainbow-colored 50 pence coin on Wednesday as a tribute to celebrate the 50th anniversary of the Pride UK movement. The coin, designed by east London artist and LGBTQ activist Dominique Holmes, uses state-of-the-art printing technology to emboss it with the colors of the Pride progress flag.  → Read more at nbcnews.com

 May 20, 2022
When it comes to buying silver , coins are one of the most popular places to start. A coin collector or investor who is used to buying gold may like the idea of taking that same investment strategy and applying it to silver.  → Read more at menafn.com

 May 20, 2022
About 1,800 antique coins, jewellery and stamps, pottery plates with inscriptions, and an ancient bronze figurine were seized this week at the home of a resident of the city of Modi’in in the centre of the country, the Israel Antiquities Authority (IAA) announced Thursday.  → Read more at jwire.com.au
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Weekly World Numismatic News for May 15, 2022

It has been an interesting week. I tried to keep up with the news and the collecting world, but a health issue sidelined me. Unfortunately, I was diagnosed with COVID. I am feeling better, but it does affect my breathing. I am glad I am fully vaccinated.

I was not completely sidelined. While trying to breathe, I was able to go online and find some interesting items online. The purchase taught me something about an area of numismatics that I did not know existed. It will be something I write about when I receive the new purchase.

During the week, the U.S. Mint mailed a package that arrived in my mailbox containing the Negro Leagues Baseball Commemorative Proof Set. The coins look better in hand than the U.S. Mint’s website images.

As the Paxlovid works to get me back in the game, it will take a few days to get everything back together, and I will be ready to get back to collecting.

Life is short. Have fun collecting.

And now the news…

 May 10, 2022
On May 9, the Greater Toronto Area (GTA) Trans-National Serious and Organized Crime Section (TSOC) charged an Ontario resident with uttering counterfeit money and possession of counterfeit money after the Royal Canadian Mounted Police (RCMP) identified and seized approximately 10,000 counterfeit toonies.  → Read more at cottagelife.com

 May 14, 2022
Remember when no one wants to touch the bills or coins for fear of getting caught COVID-19 (new coronavirus infection)Would you like to replace what was considered contaminated cash with a credit card?  → Read more at worldakkam.com
Coin Collectors News
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 Wayde Milas Named PNG President (May 10, 2022)

 

Weekly World Numismatic News for May 8, 2022

Reverse of the Royal Canadian Mint 2015 Superman $20 for $20 coin featuring “The Man of Steel”

One of my readers is a comics dealer who has a collection of comic-themed coins. This dealer discovered coins with comics themes when I posted about my purchase of the Canada $20 for $20 Superman coin. This dealer is on the mailing list for the mints that produce these coins.

After reading yesterday’s blog post, the comics dealer asked me how to become a coin dealer to sell comics-themed coins.

My reader knows that the comics industry is exploding and that the publishers are dabbling in non-fungible tokens (NFT) to see if they can extend the market. Those skeptical of the NFT market are looking for alternatives. A comics dealer that expanded to other publications, toys, and other collectibles understands that extending his market with coins will be profitable.

Walk into any hobby shop and see how every hobby has evolved. Comics, sports, and antiques have seen a rise in collecting, and all have seen the benefit of cross-collecting. A sports dealer is also selling comics and other collectibles with sports themes. Comics dealers are collectible cards and souvenirs from the ComicCons, the same as the sports dealers are selling game tickets.

Coin dealers extend their business into metals and jewelry, and their stores look the same as they did 10 years ago. The dealers may be making a living, but it is not expanding the hobby. But is it their job to expand the hobby or make a living? Unfortunately, this attitude is typical with the dealers trying to set ANA policy and is not helping the hobby’s growth.

And now the news…

 May 4, 2022
The most successful artistic design of the Croatian national side of the €1 coin has been selected, the Croatian National Bank (HNB) said in a press release.  → Read more at croatiaweek.com

 May 5, 2022
Found in Switzerland, some of the buried Roman coins were minted during a time of relative political stability, between 332 and 335 C.E.  → Read more at smithsonianmag.com
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Weekly World Numismatic News for May 1, 2022

The Bureau of Engraving and Printing announced that they negotiated a transfer of land from the U.S. Department of Agriculture to build a new facility in the Maryland suburbs of Washington, D.C.

The USDA will transfer the 104-acre Beltsville Agricultural Research Center northwest of the Capital Beltway for the new printing facility. The BEP plans to begin construction in 2023 and complete the facility by 2027. The new printing facility will employ at least 850 people.

The BEP used to be the security printer for the United States government. The BEP printed security documents, including bonds and deed certificates, and stamps, other than printing currency.

Legally, the primary mission of the BEP is to print currency for the Federal Reserve. They would offer other printing services as long as they continued to supply the Fed with currency. Beginning in the 1970s, the BEP reduced the number of stamps they printed until ending stamp printing in the early 1990s. When the Treasury ended the Series E savings bond program, they contracted printing to other contractors.

The economic expansion of the 1980s led the BEP to end almost all security printing to print currency. Before opening the Fort Worth printing center in 1991, Treasury officials explored using commercial printers to supplement the BEP’s capabilities.

In 2022, the Federal Reserve ordered the printing of over 6.9 billion notes. Although this is less than last year’s order, the BEP is approaching its maximum capacity between the Washington and Fort Worth sites. And even though bonds and stamps have become electronic assets, the U.S. government still has a security printing requirement. Although a source at the BEP would not elaborate on the printing requirement, they said that government officials want to make security printing a government function.

And now the news…

 April 27, 2022
It will house a new state-of-the-art and environmentally conscious production facility to print U.S. paper currency and other federal security products.  → Read more at nbcwashington.com

 April 30, 2022
COIN collecting was once a hobby for Stephanie Sabin – now she lives her dream by steering the ship for a major grading service firm.  Mrs Sabin, who is the president of Professional Coin Grading Services (PCGS), has been into collecting since she was a child thanks to her family’s numismatic background.  → Read more at the-sun.com
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