We end numismatic 2012 almost the same way as we began, discussing what to do about the one-dollar coins. The over production lead to a quite a number of bills introduced in congress to try to fix the perceived problem but none ever made it to a hearing, let alone out of a hearing. Rather, the U.S. Mint hired Current Technologies Corp. (CTC) to perform an alternative metals study required by congress.
When the U.S. Mint finally published the report and a summary they made a recommendation to study the problems further because they could not find suitable alternatives to the current alloys used. While reading the summary gives the impression that the request is reasonable, the full 400-page report describes the extensive testing and analysis that the U.S. Mint and CTC performed leaving the reader curious as to why they were unable to come to some sort of conclusion—except that there is no “perfect” solution. This is a story that will continue into 2013 and be on the agenda for the 113th congress when it is seated on January 3, 2013.
The other part of the discussion is whether or not to end the production of the one-dollar Federal Reserve Note. It was the last hearing before the House Financial Services subcommittee on Domestic Monetary Policy and Technology for Rep. Ron Paul (R-TX) and the 112th congress that will certainly carry over into 2013.
This does not mean the Bureau of Engraving and Printing is without its controversy. In order to comply with the court order as part of American Council for the Blind v. Paulson (No. 07-5063; D.C. Cir. May 20, 2008 [PDF]) and the subsequent injunction (No. 02-0864 (JR); D.C. Cir. October 3, 2008 [PDF]), the BEP has been working to provide “Meaningful Access” to United States currency.
Secretary of the Treasury Timothy F. Geithner approved the methods that will be used to assist the blind and visually impaired to U.S. currency on May 31, 2011. In addition to examining tactile features, high contrast printing, and currency readers, the BEP issued a Request for Information for additional information to implement their plan. The BEP will be participating at stakeholder organization meetings to socialize and refine their plans. There will probably be few announcements before the conventions of the National Federation of the Blind and American Council of the Blind this summer.
Another building controversy from the BEP is whether the redesigned $100 notes will find its way into circulation. Introduced in April 2010, full production has been delayed because of folding during the printing process. The situation has to be so severe that the BEP has not announced a new release date and delayed releasing the 2011 CFO Report [PDF] to the end of Fiscal Year 2012 while finding a way to bury the scope and costs of the delays. Will the redesigned $100 Federal Reserve Note be issued in 2013? Stay tuned!
Staying with currency issues, there should be a new series of notes when a new Secretary of the Treasury is appointed. It is known that the current Secretary Timothy F. Geithner wants to pursue other options. If the BEP follows its past practice, notes with the new Secretary of the Treasury’s signature would be Series 2009A notes. There have been no reports as to whether Treasurer Rosie Rios will continue in her position.
As for other products, the BEP will continue to issue specially packaged notes using serial numbers that are either lucky numbers (i.e., “777”) or ones that begin with “2013” as part of their premium products. Of course they will continue to issue their sets of uncut currency.
Another carry over from 2012 will be whether the U.S. Mint will issue palladium coins that were authorized by the American Eagle Palladium Bullion Coin Act of 2010 (Public Law No: 111-303 [Text] [PDF]). The law requires that the U.S. Mint study of the viability of issuing palladium bullion coins under the Act. That report was due to congress on December 14, 2012 but has not been made public at this time.
Bibiana Boerio was nominated to be the Director of the U.S. Mint.
One final bit of unfinished business from 2012 is the nomination of Bibi Boerio to be the 39th Director of the U.S. Mint. The former Chief Financial Officer of Ford Motor Credit and Managing Director of Jaguar Cars Ltd. has recently been a Special Advisor to the President of the Detroit Regional Chamber of Commerce while waiting for the Senate to confirm her nomination. The Senate will have quite a few presidential nominations on its agenda that will he taken up in the new congress.
Other than the higher prices for silver products, the U.S. Mint should not generate controversies for its 2013 coin offerings. There will be no changes for the cent, nickel, dime, and half dollar with the half dollar only being struck for collectors since it has not been needed for circulation since 2002. These coins will be seen in uncirculated and proof sets with silver versions for the silver sets.
There has been no confirmation from the U.S. Mint whether they will strike San Francisco “S” Mint quarters for the collector community as they did in 2012.
American Eagle coin programs will continue with the bullion, collector uncirculated, and proof coins for both the silver and gold. The American Eagle Platinum bullion coin will continue to use its regular reverse while the American Eagle Platinum Proof will continue with the Preamble Series. The Preamble Series is a six year program to commemorate the core concepts of the American democracy as outline in the preamble of the U.S. constitution. For 2013, the reverse will be emblematic of the principle “To Promote the General Welfare.” The U.S. Mint has not issued a design at this time.
Currently, there are no announced special products or sets using American Eagle coins and no announced plan for special strikings such as reverse proofs or “S” mint marks.
This past week, President Barack Obama signed H.R. 3187, the March of Dimes Commemorative Coin Act of 2012 (Public Law No. 112-209 [TXT] [PDF]).
According to the law, the U.S. Mint will strike no more than 500,000 silver dollar coins in 2015 that “shall be emblematic of the mission and programs of the March of Dimes, and its distinguished record of generating Americans’ support to protect our children’s health.”. The law says that the designs of the coin will “contain motifs that represent the past, present, and future of the March of Dimes and its role as champion for all babies, such designs to be consistent with the traditions and heritage of the March of Dimes.”
As with other silver dollar commemoratives, the sale of this commemorative will include a $10 surcharge that will be paid “to the March of Dimes to help finance research, education, and services aimed at improving the health of women, infants, and children.”
After congressed passed the law, the March of Dimes issued press release thanking Senators Kay Hagan (D-NC) and Susan Collins (R-ME) as well as Rep. Robert Dold (R-IL) and Nita Lowey (D-NY) for their work in getting this bill passed.
Between now and 2015 when the commemorative silver dollar is issued, I am sure the March of Dimes would appreciate as many $10 donations as you can afford. Donations to the March of Dimes are tax deductible to the extent allowed by law. It is a good way to save on taxes and do good at the same time!
Last week, the U.S. Mint published their product schedule for the rest of the month and the first quarter of 2013. So for this week’s poll, which 2013 coin are you most interested in?
American Silver Eagle Proof
While I could have allowed more than one answer, I decided to limit you to just one of the programs that change plus the American Eagle coins. For me, I will always buy at least one example of the silver bullion, uncirculated, and proof coins each year to keep my nearly complete collection going—missing only the 1995-W proof.
For the changing programs, the 2013 Presidential $1 Coins will honor the presidencies of William McKinley (the 25th President), Theodore Roosevelt (26th, whose “Pet Crime” gave us better coin designs), William Howard Taft (27th, the only president to become Chief Justice of the Supreme Court), and Woodrow Wilson (28th president). Although there are interesting stories about earlier presidents, “modern” United States history is usually taught beginning either McKinley or Roosevelt—which is unfortunate because many people could learn a lot from post-reconstruction politics.
2013 Native American Dollar Reverse Design
One of the most under-appreciated designs have been those for the Native American $1 Coin. Using the obverse of the original Sacagawea Dollar, the reverse has been changing since 2009 to honor the history and other contributions made by native Americans. Aside from honoring their important contributions, the designs have been wonderful. In 2013, the reverse design commemorates the Delaware Treaty of 1778. The design features a turkey, howling wolf, and a turtle as the symbols of the clans of the Delaware Tribes, and 13 stars to represent the colonies. Not only are these great designs but they make wonderful education pieces that should gain more attention when congress does the right thing and eliminates the paper dollar note.
2013 Girl Scouts of the USA Centennial Silver Dollar
The 2013 Girl Scouts of the USA Centennial Silver Dollar honors the organization’s founding by Juliette Gordon Low in Savannah, Georgia on March 12, 1912. Low founded the Girl Scouts a year after meeting Sir Robert Baden-Power, founder of the Boy Scouts and Girl Guides in England. When Low returned to Savannah, she put the concept in motion. According to the Girl Scouts’ website, “On March 12, 1912, Juliette Low gathered 18 girls to register the first troop of American Girl Guides. Margaret ‘Daisy Doots’ Gordon, her niece and namesake, was the first registered member. The name of the organization was changed to Girl Scouts the following year.” Surcharges from the sales of this coin will be paid to the Girl Scouts for program development and delivery.
Which 2013 coins are you interested in purchasing?
Which 2013 coins are you most interested in?
Any of the American Eagle Coins (30%, 11 Votes)
Native American Dollar (22%, 8 Votes)
5-Star General Commemorative (19%, 7 Votes)
Girl Scouts of the USA Centennial Silver Dollar (14%, 5 Votes)
I am not interested in any of these coins (14%, 5 Votes)
As we come down to the home stretch of the 2012 products, let me put in a word for the 2012 Star-Spangled Banner Commemorative Coins. Proceeds from the sale of these coins ($35 for the gold coin and $10 for the silver dollar) goes to the Maryland War of 1812 Bicentennial Commission to support their bicentennial activities, educational outreach, and preservation and improvement of the sites and structures related to the War of 1812, a war that has been called our second war for independence.
The design of the 2012 Star-Spangled Banner commemorative coins enhance the depiction of liberty and the fight for freedom that should be the hallmark of U.S. coin designs. The gold coin features a naval battle scene representing the victory in Baltimore Harbor over the Royal Navy in defending Fort McHenry and the reverse has the first words of Francis Scott Key’s poem, “The Defence of Fort McHenry.”
While the gold coin is a nice design, the design of the silver coin is even better. The obverse depicts Lady Liberty waving the 15-star, 15-stripe Star-Spangled Banner flag with Fort McHenry in the background. It is a powerful image representing one of the best designs representing freedom and liberty. The reverse is a modern 50-star flag waving. Images (included below) does not do this coin justice. You have to see this coin in hand to appreciate the design.
The last day to purchase the Star-Spangled Banner Commemorative Coin will be on Monday, December 17, 2012 at 5:00 p.m. Eastern Standard Time.
It is always fascinating to see how the U.S. Mint works behind the scenes and hear from the designers and engravers. Philadelphia’s WPVI-TV went to the Philadelphia Mint to see how the 2012 Star-Spangled Banner commemorative coins are made. Here is their report:
In related news, it was announced that the Navy’s heralded Blue Angels will perform in Baltimore for the finale of the War of 1812 commemoration September 12-13, 2014. The Blue Angles will appear during the Star-Spangled Spectacular that will be held September 6-14, 2014 in Baltimore.
Buying the coins will not only add a beautiful coin to your collection but will help support the celebrations of the bicentennial of these important events in United States history. I bought the silver proof coin at Fort McHenry during the launch event.
The Coins:
2012 Star-Spangled Banner Gold Commemorative Obverse depicts a naval battle scene from the War of 1812, with an American sailing ship in the foreground and a damaged and fleeing British ship in the background. Designed by Donna Weaver and engraved by Joseph Menna.
2012 Star-Spangled Banner Gold Commemorative Reverse Depicts the first words of the Star-Spangled Banner anthem, O say can you see, in Francis Scott Key’s handwriting against a backdrop of 15 stars and 15 stripes, representing the Star-Spangled Banner flag. Designed by Richard Masters and engraved by Joseph Menna.
2012 Star-Spangled Banner Silver Commemorative Obverse depicts Lady Liberty waving the 15-star, 15-stripe Star-Spangled Banner flag with Fort McHenry in the background. Designed by Joel Iskowitz and engraved by Phebe Hemphill.
2012 Star-Spangled Banner Silver Commemorative Reverse depicts a waving modern American flag. Designed by William C. Burgard III and engraved by Don Everhart.
Scott’s coin:
Credits
Logo courtesy of the Maryland War of 1812 Bicentennial Commission.
Video courtesy of WPVI-TV, Philadelphia.
Coin images courtesy of the U.S. Mint.
Image of Scott’s coin is owned by the author and covered under CC BY-NC-ND 3.0 license.
How many of you look at the online auctions from the auction houses dedicated to numismatics and feel intimidated?
I can see quite a few virtual hands raised. You probably like coins shows but find the large crowds at some of those shows may also be intimidating. After all, you’re a collector, not an investor or a professional. Sometimes, you can find gems at smaller shows and even smaller auctions.
This is why I was intrigued by an auction notice sent by Stephenson’s Auctioneers and Appraisers from Southampton (Bucks County), Pennsylvania. Judging by their website, Stephenson’s is a local auction company that mainly serves buyers and sellers in its region with and probably has some clientele outside the eastern Pennsylvania area where they are located.
The nice thing about these local auction houses is that they are more accessible than the big houses and they usually have items that are affordable to the average collector. While high-end auctions are fun, if you are buying for yourself, you may not be the type looking to spend six-figures or higher on a coin.
If that is the case and you are in the Bucks County, Pennsylvania area on Friday, November 2, you may want to stop by Stephenson’s and check out their more than 200-lot coin auction that may include “some nice last-minute surprises.”
These are estate auction from the eastern Pennsylvania area. According to the information sent to me, the auction includes a wealth of Morgan silver dollars will be offered, with no fewer than 15 lots comprised of three Morgans each. An uncirculated 1882 Carson City Morgan silver dollar is one of the highlights, and another early example is a trade silver dollar dated 1877. Other antique American coins include Capped Bust half dollars from 1809 and 1838; an 1806 Draped Bust half dollar, and a Seated Liberty half dollar from 1843.
The auction includes two gold pieces. One is a 1914 Indian Head quarter eagle ($2½) and a 1917 $1 gold coin commemorating the slain U.S. President William McKinley.
There are many collectors’ books of coins, including a Washington quarter book (1932-1945) with 24 silver quarters, a Liberty Head nickel book (1883-1912) with 25 nickels, a Standing Liberty book with 10 silver half dollars, a Mercury dime book with 74 silver dimes, including 1921 and 1921-D; and a book consisting of 60 Buffalo nickels. Also included are a Walking Liberty half dollar book with 14 half dollars, a Barber dime book, Roosevelt dime book and Kennedy half dollar book with 59 Kennedy halves, including three 1964 and nine 1965 through 1970 coins. Flying Eagle and Indian Head penny sets will be available, as well as many other books, too numerous to mention.
Desirable non-monetary gold and silver items with both intrinsic and historical value include a boxed set of three 24K gold over .999 silver ingots commemorating the 1973 Triple Crown Winner Secretariat, and a framed sterling silver set titled “The Official Bicentennial Medals of the Thirteen Original States.”
Other lots of interest include two California Gold tokens (1852 and 1853) and an 1860 $5 note issued by the Miners and Planters Bank of North Carolina. Fractional currency, and U.S. Prestige and Olympic Prestige sets.
Auction will be held on Friday, November 2, 2012 at Stephenson’s gallery located at 1005 Industrial Blvd., Southampton, PA 18966. Auction preview is on the auction day from 2-4 p.m. The auction starts at 4 p.m.
For additional information, call Cindy Stephenson at 215-322-6182 or e-mail info@stephensonsauction.com. There will be no Internet bidding for this sale; it is exclusively for gallery, phone and absentee bidders. Visit Stephenson’s online at www.stephensonsauction.com.
If you are in the area, go and have some fun. Who knows, you may find something interesting to bid on!
Some of the items in this auction
1882 Carson City uncirculated Morgan silver dollar with original GSA box and paperwork. You do not see too many CC Morgans with the original box and paperwork!
1860 $5 note, Miners and Planters Bank of North Carolina.
Three 24K gold over .999 silver ingots Commemorative of Secretariat.
Thirteen sterling silver “Official Bicentennial Medals of the Thirteen Original States.”
Early US coins, including 1809 and 1838 Capped Bust half dollars, 1806 Draped Bust silver dollar, and a, 1843 Seated Liberty half dollar.
Flying Eagle and Indian Head Cent set in a Whitman Album
1914 Indian Head Quarter Eagle ($2½) gold coin and McKinley Commemorative “Dollar” gold piece.
As we look at remembering those who died 11 years after the attacks on New York, Washington, and those who brought that plane down in Shanksville, Pennsylvania, the U.S. Mint published a video where they interviewed members of the die and polishing department about their part in the making of the 2011 September 11 National Medal.
It may also be time for congress to do something bipartisan and create a medal to raise funds for the Flight 93 National Memorial that will be erected in Shanksville. With the museum in New York and The National 9/11 Pentagon Memorial, it will complete the honor of those who died on that day. Then we can work on a memorial to honor the military who have shouldered the burden since.
The list has only one “reasonably priced” coin—that is a coin that someone with a little means could afford. It lists the an 1850 Double Eagle at $13,000. That started me to think about the potential to actually owning a few rare collector coins with value and something more align with my tastes. After thinking about this I came up with a list of my “10 Most Desired Coins Within Reason.” In this case, I defined reason as not being so rare that it could only be bought with the help of a good dealer and would not require bidding on it at a once-in-a-lifetime auction. I also set a limit of $5,000 on the price of any coin. I know this may limit the inventory to lower grade for some coins, but those lower grades could give the coin character.
Mostly in denomination and date order, here are Scott’s 10 Most Desired Coins Within Reason:
1793 Flowing Hair Chain Cent with AMERI. in Legend is basically amongst the first legal tender coins produced by the U.S. Mint. I know that there was an earlier run of half-dismes, but they were not real production runs. If I am going to produce a list like this, I am going to pick the coin I like and break one of my rules because even at its lowest grade, the coin will probably cost more than $10,000.
1909-S Indian Head Cent in Mint State Red. Even though the 1908-S was the first Indian Head cent struck in San Francisco, I am choosing the rarer of the two S-mint Indian Heads in Mint State Red. Of course, this may also break my budget but it would be no fun otherwise.
1909-S VDB Lincoln Cent may not be the most expensive Lincoln Cent (the 1914 is), but it is the first of the iconic series and part of the controversy started because of the “V.D.B” initials on the reverse. Fortunately, I already own one graded as VF-30BN by NGC.
1955 Double Die Obverse Lincoln Cent is the coin that sparked the interest in error collecting. It is remarkable to think that one coin, a mistake, created a new segment of the hobby. For me, I already own one graded AU-58BN by NGC that I really like.
1937-D 3-Legged Buffalo is a very cool coin. Aside that the Buffalo Nickel is one of my favorite coin designs, there is something intriguing about the story behind this coin. Fortunately, the one I own was graded VF-25 by NGC and the last of the ones I already own on this list.
1917 Type 1 Standing Liberty Quarter is a compromise because the 1916 would be too expensive. In order to add a type 1 design (with breast exposed), the 1917 version is more reasonably priced in higher grades.
1921 Walking Liberty Half Dollar would be the coin I would point to on this list as being my favorite design. For me, only the Saint-Gaudens Double Eagle come close to Adolph Weinman’s design. It should not surprise anyone that Weinman was one of Saint Gaudens’ students. The 1921 half dollars were almost an afterthought as the U.S. Mint was rushing to produce silver dollars and the 1921 fits the criteria to buy one in higher grades.
1878-CC Morgan Dollar in the GSA Holder because it is interestingly historic. The Morgan Dollar was authorized by the Bland-Allison Act that required the Treasury Department to buy silver from western mines and put them into circulation as silver dollars. It was passed after the Coinage Act of 1873, sometimes referred to as the “Crime of ’73,” demonetized silver and set the standard for gold as the backing of the national currency. Not only do you get the collectible from a western state near a western mine, but the GSA Holder is from the historic sales of the 1970s after the GSA started pulling coins out of storage in buildings long forgotten.
1908 Indian Head Gold Half-Eagle because if you make a list like this, there has to be some gold on it. If I am going to do a gold coin, I want the only coin whose design is incuse to the coin. Bela Pratt Lyon’s incuse Indian Head design is unique and nicely available in its first year of mintage.
1907 No Motto Saint Gaudens Double Eagle because this list cannot be complete with the other of the two most iconic designs ever made for a circulating coin. Since 1907 is the first year, this is the most affordable of the three types made that year and is more available than the high-relief versions.
Do you have a similar list? Add it to the comments below.
First, the U.S. Mint’s product offerings do not make sense, specifically in the area of coins minted at the San Francisco Mint. First, in an attempt to resolve the issues surrounding the release of the 25th Anniversary Silver Eagle Set, the U.S. Mint changes their approach by making the ordering period for the 75th Anniversary of the San Francisco Mint Silver Eagle Set a month long and announcing they will mint enough coins to the demand.
Of course some people believed that would be the extent of the run of Silver Eagles with the “S” mintmark. However, many missed the fine print that said the U.S. Mint may continue to strike and sell S mint Silver Eagles following the sale—which they did. Buried in the news was the announcement of the Making American History Coin and Currency Set, a combined set to celebrate the U.S. Mint’s 220th anniversary and the Bureau of Engraving and Printing’s 150th anniversary. The set contains an S Mint Silver Eagle and a $5 Federal Reserve Note from the Federal Reserve Bank of San Francisco with the serial number beginning with “150.”
Even though that set has limits (100,000 based on the number of $5 FRN available), there have been some complaints from the buying public about not putting limits on the number of S Mint American Silver Eagle products.
But does this matter? Is this a case of collectors trying to dabble with investment in their collection? I know we all would like our collection to be worth more than what we paid, but are we collectors or investors? As a collector, I am not concerned that my 1928 Peace Dollar is not worth that much more than I paid for it.
Legally (31 U.S.C §5112(e)), the U.S. Mint is required to supply the bullion market with American Eagle coins to demand. Striking of coins for the collector market is up to “the Secretary’s discretion,” which we saw with the American Eagle Proof non-production fiasco of 2009.
The American Eagle bullion coins are the most popular investments coins in the world with Canada’s Maple Leaf coming in a close second because of currency exchange rates. Even as the Canadian dollar passes the U.S. dollar in value, American Eagles are still selling. The demand for the product is there and by law, the U.S. Mint is required to supply the demand. There is even demand for the collector versions of the American Eagles, as we saw in 2009. The U.S. Mint does not have to limit sales, and why should they? After all, the U.S. Mint is one of the few profit making mechanisms for the federal government—and even with the price controls placed on them by the law, why should they not be allowed to take advantage of the market? If a complaint about the government is that they do not act like a business, and it is a business decision to sell more American Eagle collector products to satisfy market demand, then why are they being criticized?
The Royal Canadian Mint produces the popular Maple Leaf bullion coins as well as other issues based on the Maple Leaf and other precious metal coins. They can do this because the RCM is not a government agency. The RCM is what is known as a “Crown Corporation,” legally owned by the Crown of the Commonwealth Realm (Queen Elizabeth II) with exclusive rights to produce coins on behalf of the Bank of Canada. Issues and designs are decided by a committee within the RCM which is then approved by the Bank of Canada so that they have legal tender status before being approved by the Governor General of Canada, the Queen’s representative in Canada.
Since the RCM can issue many different non-circulating legal tender (NCLT) coins without the onerous permission requirements that the U.S. Mint needs to go through by getting a law passed, the RCM can create many limited availability issues and use the limited availability as part of their promotion. In the mean time, the U.S. Mint has a limited number of coins they can produce because this is what congress has allowed them to do.
Golino writes, “We need more coins with different and better designs.” This one is difficult to answer because of how the U.S. Mint is regulated by congress. Even if you try to extend the American Silver Eagle coins with different design, the law (31 U.S.C §5112(e)) says the design must be “symbolic of Liberty on the obverse side” and “of an eagle on the reverse side.” Maybe the U.S. Mint could use the American Silver Eagle coins to reprise old designs like the Christian Gobrecht’s Seated Liberty design with the reverse eagle designed by Titian Peale from the Gobrecht Dollar, but to create something else requires an act of congress.
Even if the U.S. Mint was allowed to alter the designs of the American Eagle coins, these designs have to be vetted by the U.S. Commission of Fine Arts and the Citizens Coinage Advisory Committee. While a vetting process should continue, the redundant process of having to run the designs by both the CFA and CCAC is a business risk that the U.S. Mint will probably choose not to go through.
There is no incentive for the U.S. Mint to request a change in its current operating structure because it would require cooperation from congress where the current oversight subcommittee chair, Ron Paul, is not considered a friend to the the agency.
As a first step, it would be nice for the U.S. Mint to be able to leverage the American Eagle program to create a changing design for collectibles. One would be to revive some of the older one-dollar designs as a tribute to the large silver coins. Another would be to do the same for gold coins, such as a year where the Bela Lyon Pratt incuse half-eagle Indian Head design would be featured. But this would require a change in the law since the obverse design is not a representative of liberty.
If you want something different, write to your member of congress and suggest that the law be changed. Otherwise, if you do not like the offering, do not buy it. Nothing speaks louder than consumers exercising their rights not to buy a product.
Those following the weather-related events around Washington, DC have seen how a little wind can set the local electric companies into a tizzy. Most of us in the effected areas feel that the restoration experience more represents the Keystone Cops rather than a responsible utility company. The last few blog posts have been previously scheduled. Now that power is restored and the refrigerator has been cleaned and restocked, it is time to talk numismatics.
Before the storm, I attended the Whitman Baltimore Expo. While their June show may be the smallest of the three shows that are put on in Baltimore, it still remains a premier show on the east coast, only rivaling its other two shows and F.U.N. for being amongst the best of non-A.N.A. shows. This may be a biased view since the Baltimore Show was the first show I attended when I returned to numismatics following the untimely passing of my first wife. But I am still amazed how Whitman can put on a good show three-times per year!
Friday, after a morning appointment and a delay in leaving, I backed out of my garage and headed to the highway. Over the last year, there is a new highway that will bring me to I-95 a lot quicker than driving down to the Capital Beltway. The ride was a pleasure since it new highway is a toll road and people seem to be allergic to tolls. My problems began when I exited to I-95 North. An accident and two major construction projects extended the usual one-hour trip to nearly two-and-a-half hours! I should be used to this type of traffic living in the D.C.-area, known as the worst on the east coast, but Capital Hill is not the only place where one could find mindless acts.
I could not park in my usual location because it was full, so I was further delayed by trying to find parking near the convention center. Thankfully, my new hip allows me to walk further distances and I was only 35 minutes late for the talk by Don Kagin. While I did arrive in time to take some pictures (a very small sample are on Pinterest), I wish I could have been there for his entire talk.
Before walking the bourse floor, I did have business to conduct, some of which I will discuss at another time. Suffice to say that I took the opportunity to see some people, shake hands, and show my appreciation for their work. Amongst the people I was able to see was Michelle Coiron, Director of sales for Star-Spangled 200 and David Crenshaw, General Manager of Whitman Expos. Both do a great job for their organizations and deserve a sign of appreciation.
Then it was time to hit the bourse floor. As opposed to other times I was at the show, there seemed to be quite a bit activity even as the day wore on. I was pleased to see quite a number of people attended the show that late on a Friday. It keeps the dealers happy and at their tables. I really did not see an exodus begin until about 5:30, about a half-hour before closing.
I spoke with a few dealers who said that business was steady. Most of the coin dealers seemed to be happy while most of the currency dealers called the show a little slow. If anything, I was a little disappointed with some of the currency dealers. With my interest in Maryland colonial currency, I was looking at their inventory for something I could add to my collection. I did not find much colonial currency and what I did was not from Maryland. The only dealer who had any currency in stock from Maryland had 1774 notes, which are the easiest to find.
Since I was late, I passed a number of dealers I spoke with in the past so I could cover as much of the floor as possible. I was not in much a buying mood but I was able to find the 2012 silver one-ounce Chinese Panda and Australian Koala. Both beautiful coins and will be added to what I call my “silver dollar” collection—silver coins 38-40 millimeters in size, like the American Silver Eagle, British Britannia, and Canadian Maple Leaf.
Being in a good mood and wanting to do some thing different, I did spend a lot of time with the exonumia dealers. I saw some really wonderful medals, tokens, and encased coins that really piqued my interest. Rather than buying just anything, which I could have done given my good mood, I applied a little personal discipline and stuck to my goal of finding something neat at every show but limit it to fit in my collection of New York City-related numismatics.
While searching through one dealer’s stock I found my “oh neat” item from New York. What I found was made of pewter, 35½mm in diameter, 3⅓mm thick, and holed on the top. It became irresitable after reading the obverse that says, “Two Cities As One/New York/Brooklyn.” On the reverse in true Victorian style, it says “Souvenir of the Opening of the East River Bridge/May 24th, 1883/1867-1883.” In 1915, New York City renamed it the Brooklyn Bridge.
On May 24, 1883, thousands of people crowded lower Manhattan and Brooklyn for the grandest of all ceremonies from all over the area—even as far away as Philadelphia. The list of dignitaries was a Who’s Who of the political America that included President Chester A. Arthur, New York Governor Grover Cleveland, and New York City Mayor Franklin Edson. The carriage carrying President Arthur and Mayor Edson lead the parade surrounded by a very large cheering crowd.
At 1:50 PM, the processional arrived at the entrance of the new bridge, President Arthur and Mayor Edson left their carriage and crossed what was the world’s longest suspension bridge arm-in-arm to a cheering crowd who paid $2 for tickets to watch from the bridge. The band played Hail to the Chief as ships who came to the ceremony and anchored around the East River blew horns to honor the President. Navy ships who were invited to the ceremonies took turns giving 21-gun salutes.
When they arrive in Brooklyn, they were greeted by Brooklyn Mayor Seth Low The three men locked arms and marched to the Brooklyn Pier (today, the area of Brooklyn Bridge Park) to complete the ceremony dedicating the bridge to the people of the New York City and Brooklyn.
Growing up on Long Island, my late mother insisted that during some of our breaks from school that we play tourist and visit various places in and around New York City to learn about where we are from. During the trips to Rockefeller Center, a place I would work in the 1990s, we would visit the Chase Manhattan Bank Money Museum. Up until it was closed in 1977, it held one of the best collection of numismatic items outside of the Smithsonian Institute. Ironically, the Smithsonian was the recipient of some of the items in the museum following its closure. Another beneficiary was the American Numismatic Society who still retains their part of the Chase Manhattan Collection.
This museum was source of fascination, especially after I learned about collecting while searching through the change I made delivering the afternoon Newsday on Long Island. Somewhere, buried in a box, I have a pamphlet from one of my visits to the Chase Money Museum. I remember the cover was blue and it had a “money tree” on the front. As a youngster, that was significant because my father would lecture me by saying, “money doesn’t grow on trees.” Although the item was made to look like a tree with coins coming off the branches, it was a source of comic relief at home. Otherwise, I do not have a souvenir from the museum. Until now!
Searching through boxes from the same dealer I bought the Brooklyn Bridge medal, I found an encased Lincoln Cent from the Chase Money Museum. In fact, I found several from various dates. Of the ones I found, I bought one with a 1956-D Lincoln Cent that still had its red luster! Even though I could not have visited the museum in 1956—it was before I was born—it was the only coin that looked uncirculated. Rather than try to find one that would have been from the time I could have visited, I picked the better looking coin. Now if I could find my pamphlet, it would make a great part of my New York City collection.
My next show will be the American Numismatic Association’s World’s Fair of Money in August at the Philadelphia Convention Center. I will have a lot planned for those few days and should make for an interesting story. Stay tuned!
This week, the U.S. Mint branch in San Francisco opened its doors for the press in honor of the facility’s 75th Anniversary. Reporters were given a tour of the production lines and spoke with employees of the U.S. Mint about upcoming collectibles.
Here is the story that appeared on KTVU, Channel 2 in San Francisco (commercial embedded by KTVU):
The U.S. Mint has clearly increased production to meet a potential demand for the American Silver Eagle Proof set with both regular proof and reverse proof coins for the upcoming sale. In the video we see a lot of silver planchettes and a few racks of beautiful silver coins. A pair are shown to the camera including the reverse of the reverse proof.
We also learned that the San Francisco Mint is striking circulation quality (business strikes) National Parks Quarters that will be distributed in special collectibles. These coins will not be added into circulation.
San Francisco Mint Plant Manager Larry Eckerman made an unfortunate mistake when he said that there has not been any S mintmark coins in circulation since the early 1950s. Collectors of Lincoln Cents can tell you that S mintmark cents were issued starting in 1968 through 1974.
The 2012 American Eagle San Francisco Two-Coin Silver Proof Set goes on sale starting June 7, 2012. Coins will be minted to demand based on sales through the end date of July 5, 2012. Price will be determined prior to sale and based on the cost of silver. Here’s to hoping that silver prices drop between now and June 7!