Weekly World Numismatic News for September 20, 2021

Yes, I’m a day late. At least I’m not a dollar short!

It is not a surprise to economic and market watchers that there is a perceived coin shortage. The problem is not just in the United States, but worldwide central banks are trying to fix their circulation issues.

Over the last three months, the Reserve Bank of India (RBI) has been trying different tactics to get money to circulate. In addition to striking more coins, they promote new designs and a program for citizens to redeem old coins for the newly issued coins. It has a moderating effect on the COVID crisis at high levels in the country.

India has also been dealing with rumors one type of circulating coin has been counterfeited or been withdrawn and not legal tender. However, the RBI has insisted that the coins are legal tender but continue to promote them with the redesign.

The Royal Mint has stepped up the production of 1 penny coin for circulation. Physical money is used more in the UK than electronic transactions, especially outside of the cities. Although some feel the penny has been overproduced and would rather see the 2 pence coin used, the increase in the number of transactions since the lifting of COVID restrictions created the demand.

The United States continues to see shortages. Most of the reports are coming from outside of the major metropolitan areas. Most are looking for one-cent coins. Experts are blaming accelerated consumer spending in areas where cash payments are more prevalent. More populated urban regions are seeing more electronic transactions than cash.

Let’s keep the economy moving. Spend those coins! (not the ones you collect)

And now the news…

 September 14, 2021
Bankers thought the nationwide coin shortage was over, as the U.S. economy reopened and previously housebound consumers were able to unload more of their change. But a combination of factors — including government stimulus payments, accelerated consumer spending and the threat of the COVID-19 delta variant — has stymied progress and forced retailers to resort again to asking shoppers for exact change.  → Read more at americanbanker.com

 September 14, 2021
Croatian National Bank (HNB) Governor Boris Vujčić said on Monday after meeting with European Commission Vice President Valdis Dombrovskis that a test production of euro coins with Croatian national motifs should begin by the end of this year, with possibly about two million coins being minted.  → Read more at croatiaweek.com

 September 15, 2021
LAS CRUCES – The Las Cruces Police Department received two reports of movie prop money that was passed as legal tender over the weekend, a news release on Monday stated. In the news release police stated movie prop money can look like actual currency but, in most instances, does not have the same texture.  → Read more at lcsun-news.com

 September 15, 2021
A very rare large gold coin from the reign of Charles I is expected to fetch £50,000 when it is sold at auction.  → Read more at newschainonline.com

 September 15, 2021
A huge hoard of Iron Age gold artifacts has been uncovered by an amateur metal detectorist in Denmark. The "enormous" find consists of almost one kilogram (2.2 pounds) of gold buried 1,500 years ago, according to a press release from the Vejlemuseerne museum, which will exhibit the hoard.  → Read more at cnn.com

 September 16, 2021
One penny coins were back in production last year after none were minted for general circulation in the previous two years, Royal Mint figures show.  → Read more at bbc.com
Coin Collectors News
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An Estate Auction tip

Not long ago I wrote about alternative places to find coins and other numismatic collectibles that included some of my secrets. As an addendum, I am going to provide another secret to an estate auction from a company I have done business with in the past.

If you are in the central Virginia area or willing to pay for shipping, you can bid on the Coin and Postcard Auction from JLR Auctions of Culpeper, Virginia.

The auction has 144 lots of coins along with eight lots of supplies. If you are into old postcards, there are a few nice lots in this auction. A little something for everyone.

I have bought items through JLR Auctions and have consigned surplus items. They are a good company to work with. I have no stake in this auction but passing along a tip to my readers.

Happy bidding!

Weekly World Numismatic Newsletter for March 11, 2018

It was announced that the Royal Canadian Mint was issuing a silver Canadian dollar commemorating the 180th Anniversary of Baseball in Canada. Being a baseball fan, I went to the Royal Canadian Mint’s website to see if the coin was worth adding to my collection. The came sticker shock!

The coin is convex, similar to the 2014 Baseball Hall of Fame commemorative coins issued by the U.S. Mint. But that is where the similarities end. The reverse of the Canadian coin features a vintage baseball scene reminiscent of the 19th century inside a baseball-looking design. The obverse has the portrait of Queen Elizabeth II. It has a face value of $25 CDN.

Then there are the specifications. When I visited the Royal Canadian Mint’s website, I was floored when I noticed the issue price of 159.95 CAD or about $124.82 at the current exchange rate. Here is a comparison of the coins:

Royal Canadian Mint
180th Anniversary of Canadian Baseball
U.S. Mint
2014 Hall of Fame Commemorative Silver Dollar
Mintage 5,000 (limit) 400,000 (actual)
Proof: 268,076
Unc: 131,924
Face Value 25.00 CAD 1.00 USD
Composition 99.99% pure silver 90% silver
10% copper
Weight 30.75 g
(0.9886 troy ounce)
29.73 g
(0.9558 troy ounce)
Diameter 36.07 mm 38.1 mm
Silver Value
(16.57 USD spot)
16.38 USD 14.25 USD
Issue Price
(1 CAD = 0.78 USD)
159.95 CAD
(124.82 USD)
Proof: $56.95 (preorder: $51.95)
Unc: $52.95 (preorder: $47.95)

If you want a baseball commemorative coin and do not want to break the bank, you can still find the 2014 Baseball Hall of Fame Commemorative Silver Dollar within 20-percent of the issue price in original government packaging (OGP). Even though the artwork is very good, the price of the Canadian coin is too high. At a premium of over 970-percent over spot, it is difficult to justify.

And now the news…

 March 5, 2018

The Central Bank of Lithuania is calling on tech companies and blockchain experts from across the globe to help in the design and production of a digital collector coin. The Central Bank is organising a hackathon in May for third parties to help in the design and development of the one-off virtual currency. → Read more at finextra.com


 March 6, 2018

A new commemorative coin was unveiled Oct. 9 to mark the 100th anniversary of the end of World War I and honor those Americans who served. The silver dollar coin, authorized by Congress in 2014, features a service member holding a rifle to honor those who fought in the war from 1914 to 1918. → Read more at wadenapj.com


 March 6, 2018

Major League Baseball came to Canada in the 20th century with the debut of the Montreal Expos in 1969 and the Toronto Blue Jays in 1977, but that was far from the beginning of the country's history with the game. → Read more at mlb.com


 March 6, 2018

SPRINGFIELD, Ill. (WAND) – A design is needed for the Bicentennial Coin to commemorate the Illinois Bicentennial. Illinois State Treasurer Michael Frerichs announced the Bicentennial Coin Contest on Tuesday. → Read more at wandtv.com


 March 7, 2018

Reverse of new penny design, showing Abraham Lincoln and the Illinois State Capitol in Springfield. (U.S. Mint photo) → Read more at chicagotribune.com


 March 7, 2018

The Royal Mint is encouraging coin lovers to celebrate the UK “one coin at a time”. The new series of 10p coins were released into circulation on March 1 and features an A to Z of British landmarks, icons and traditions. → Read more at dailystar.co.uk


 March 8, 2018

A museum has started a bid to buy part of a gold sovereign hoard discovered hidden inside a piano. The find was made in 2016 in Shropshire when the piano's new owners had it retuned and repaired. It has since been declared as treasure. → Read more at bbc.com

Coin Collectors News
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When is it permissible to clean your coins

Numismatists and serious collectors will tell you to never clean your coins.

At one time it was common practice to clean coins and even use shellac on copper coins to keep their color. Dealers would dip coins in harsh chemicals to remove dirt and grime in order to make the coins more attractive to buyers. But that was in the past. Today, we are more sophisticated collectors and like our coins with as natural of a surface as possible. Because of this, the value of a cleaned coin will drop since it will not be as desirable as a coin with an original surface, regardless of the coin’s overall condition.

In fact, cleaning a coin or altering it to make the coin look better is not only unethical, but it can also be a crime since you would be representing a coin as original and it is not. It is called coin doctoring. This is such a touchy subject for the numismatic community that the Professional Numismatic Guild (PNG), an association of top dealers, spent two years trying to define what coin doctoring really means. In 2012, PNG came out with the following three conditions that indicates coin doctoring (emphasis added):

  1. Movement, addition to, or otherwise altering of metal, so that a coin appears to be in a better state of preservation, or more valuable than it otherwise would be. A few examples are plugging, whizzing, polishing, engraving, “lasering” and adding or removing mintmarks.
  2. Addition of any substance to a coin so that it appears to be in a better state of preservation or more valuable than it otherwise would be. The use of solvents and/or commercially available dilute acids, such as Jeweluster, by qualified professionals is not considered coin doctoring.
  3. Intentional exposure of a coin to any chemicals, substances, or processes which impart toning, such that the coin appears to be in a better state of preservation or more valuable than it otherwise would be. Naturally occurring toning imparted during long-term storage using established/traditional methods, such as coin albums, rolls, flips, or envelopes, does not constitute coin doctoring.

But there may be good reasons to clean collectible coins that may not be considered coin doctoring. Some may have collectibles that could be saved if we could just get the dirt or grime off. Some may have some PVC damage that may not have attacked the surface of the coin and could also be saved.

Another reason to clean coins is if you found the coins with a metal detector buried in the ground. Years of being buried in the dirt probably stored in non-archival materials can take its toll on a coin. These coins can be cleaned to remove the dirt.

The purpose is to remove the foreign substances from the surfaces and not to change the physical properties of the coin.

WARNING: IF YOU ARE UNSURE ABOUT THIS PROCEDURE OR WANT TO CONSERVE A RARE COIN, CONTACT A PROFESSIONAL CONSERVATION SERVICE.

If you want to try to clean your coin, consider using neutral and non-abrasive means, such as soaking your coins in extra-virginolive oil or acetone. Yes, I did say extra-virgin olive oil. Extra-virgin olive oil is as neutral as you can get with a product that has been used to make soaps and other cleaners. In order for olive oil to be branded as “extra-virgin,” it must be made by the natural pressing of olives with no chemical additives and be no more than 0.8 percent acidic. Not only does the purity make for oil that is good for consumption, the natural fats can react with dirt on the coin and naturally loosen it to be easily rinsed away.

When trying to remove PVC or other stubborn dirt, try using acetone. Acetone is a natural solvent, chemically known as an organic compound, that has many uses. Acetone is slightly acidic, no more than two percent by volume, which is not enough to cause damage to coining metals.

If you use acetone you need to use 100-percent pure acetone and not nail polish remover. Although nail polish remover does contain acetone, it also contains perfumes and is diluted to the point that it will not work on your coins. The additives will damage the coin’s surface. Acetone can be purchased at your local hardware store and is sold either by the quart or gallon. While shopping, you should also purchase protective gloves (made from powder-free latex or nitrile), a protective mask for your nose and mouth, and something for your eyes if you do not wear glasses. Always remember your safety when using any chemical!

You should never use vinegar or soap. Vinegar is acidic and could affect the surface of the coin. Using vinegar can cause the small scratches and imperfections from the minting or bagging process to become more pronounced. These small etches can also become rough and allow new dirt to adhere to the coin.

Soap is a salt of a fatty acid. Chemically, a salt is a compound that neutralizes the reaction between the alkaline and acid properties of the chemicals. When fats are combined with other ingredients to reduce its acidity, it creates a soap that can be used for cleaning or lubrication. The problem is that the fatty acids on their own will not damage coins, you never know what the alkaline components are that have been added to balance the pH (potential of Hydrogen) of the acid.

Unfortunately, there is no standard definition of pure soap. Its common use is to define a product whose pH is as close to neutral (pH 7) as chemically possible. Unless the company discloses its formula, it would be impossible to tell if the makeup of the soap will negatively interact with the metals.

One final item you should have is distilled water. Distilled water has all the natural impurities removed and reduced the risk of the rinse damaging your coins. Using a squeeze bottle filled with distilled water is the most effective way to rinse away the olive oil or acetone.

When using either olive oil or acetone, the procedure is similar:

  1. Start with a clean work area. Wash your hands and work on a clean surface. Cleaning your workspace with anti-bacterial wipes will also help. Make sure your work area is safe and well ventilated, especially if you are using acetone.
  2. Consider covering your work surface with a lint-free towel folded over several times. If you drop the coin, you will drop it on the padding provided by the towel.
  3. If you are using acetone, don your safety gear. I cannot stress enough that while using acetone is an effective cleaner, you need to work with it in a well-ventilated area and away from any ignition sources, like your kitchen. If you smoke, you may want to leave your matches and lighter outside your work area.
  4. Pour your acetone or olive oil into a glass that would cover the coin. The depth should be about one-quarter to one-half inch of your liquid. It is also important to use glass for this. Acetone will react with plastic and olive oil may loosen anything that would be stuck to the plastic. A clean glass jar, drinking glass, or dessert bowl works best.
  5. If you are using acetone, place the coin in the glass and swirl it around for about 30 seconds. After a few swirls, you should start to see dirt in the acetone. If there is PVC on the coin, hopefully, you can see it begin to loosen. Do not do this for much longer than 30 seconds since the dirt in the acetone could scratch the coin.
  6. If you are using olive oil, place the coin in the glass with the dirtiest side up. Swirl it a few times to ensure the coin is coated and let it sit. Olive oil is not as strong as acetone and needs time to loosen the dirt. Depending on how dirty the coin is, let it sit for 30 minutes to three hours. Do not touch or swirl the coin. Just let it sit.
  7. Remove the coin from its bath with tongs or your gloved hand. Then using your squeeze bottle filled with distilled water, rinse the coin. Rinse it well to remove the acetone or olive oil. Olive oil is harder to rinse, so patience is required.

After the rinse, place the coin on a lint-free cloth and let it air dry. DO NOT RUB THE COIN! Even though you are using a lint-free cloth, it will scratch the surface. Wait for the coin to dry naturally before storing it away.

If your cleaning attempt did not work, try again. If you used olive oil and want to try again, let the coin sit longer. You may also try using acetone instead. If you used acetone to try to remove PVC damage and it did not work, there is one more thing you can try using a cotton swab:

  1. After swirling the coin in the acetone, remove the coin from the liquid and place it on a clean surface. Make sure you are using all of your safety precautions.
  2. Using a cotton swab with a cardboard handle (do not use once with plastic handles since the acetone will react with the plastic), dip the cotton in the acetone and roll the cotton tip across the problem area of the coin. You can gently nudge at PVC particles that may still be attached to your coin. DO NOT RUB THE COIN! You are trying to remove the PVC without causing any further damage and rubbing it or using any other abrasive motion will damage the coin.
  3. Keep rolling the cotton tip over the area, changing tips after a few rolls. You may also want to have a little clean acetone nearby to dip the cotton swab.

Most importantly, be patient. It may take a few swabs to see results. If it is not working or you feel anxious doing this, then stop. The last thing you want to do is add damage to your collectible. At this point, if the coin is not “clean” then it may not be cleanable. You can try to contact a professional conservation service for additional help.

When you are done, make sure you clean your work area and dispose of your used materials properly. Acetone is considered hazardous so NEVER POUR ACETONE DOWN THE DRAIN. Do not let it sit out because allowing it to evaporate will add toxic vapors in the air. Many cities and towns have hazardous waste processing rules. Find out what they do in your area to allow for disposal of acetone. You can also ask the sales clerk at the store where you bought the acetone for your area’s acceptable disposal options.

While olive oil is not hazardous, it is not a good idea to pour it down the drain. The natural fat in the olive oil will congeal and may stick to your pipes. After a while, the fat builds up and will cause a clog. In my neighborhood, the water company once had to remove a 25-pound congealed ball of grease that caused a backup in everyone’s drain. It was not a pretty sight. You can dispose of olive oil with the trash since it is a natural product and will not pollute the environment.

Weekly World Numismatic Newsletter for March 4, 2018

I apologize for being a day late.

10p “B” reverse for “Bond… James Bond!” issued by the Royal Mint (Royal Mint Image)

Interesting numismatic-related news out of the week is coming out of the United Kingdom. The Royal Mint has introduced 26 special 10 pence coins, with each reverse having a letter of the alphabet and an image representing that letter. For example, the 10p coin with “A” honors the Angel of the North landmark in Gateshead and “B” for “Bond… James Bond.”

All 26 coins have been added to circulation and the Royal Mint is promoting the coins with the hashtag #coinhunt on social media.

For those collecting the coins, the Royal Mint is offering a special album and an app that can be used in the hunt. For those of us outside of the United Kingdom, you can purchase the coins online on the Royal Mint’s website.

It is an interesting idea that could translate to the United States. Let’s see what happens before making that proposal.

And now the news…

 February 23, 2018

A new exhibition at the National Hellenic Museum which will open March 4, will feature the story of coins from early use in ancient Greece to today. Titled “Change: The Story of Coins”, the exhibition will include an interactive display which will highlight how coins are important financial, cultural and political tools. → Read more at usa.greekreporter.com


 February 25, 2018

The National Bank of Poland has issued a special coin commemorating a hero of the Polish struggle for independence. General August Emil Fieldorf (nom de guerre “Nil”), a hero of the Polish-Bolshevik War of 1920 and of World War II, was arrested by the communist authorities in 1950. → Read more at thenews.pl


 February 26, 2018

The Capital City Coin Club will be hosting its 98th Annual Trade Show on Saturday and Sunday, March 24-25, at the Bismarck Eagles Club, 313 North 26th St. Saturday hours will be from 9 a.m. to 6 p.m., and Sunday hours will be from 9 a.m. to 4:30 p.m. → Read more at jamestownsun.com


 February 27, 2018

Sixty two year-old amateur metal detector Richard Patterson found a rare coin from the third century in a field in Winchester, Hampshire. It has now sold at auction for £10,000 ($14,000). → Read more at dailymail.co.uk


 March 1, 2018

The Royal Mint is celebrating Britishness with 26 new, collectors edition, 10p coins – and they've just hit the streets → Read more at mirror.co.uk


 March 2, 2018

February sales of U.S. Mint American Eagle gold coins fell 80 percent from the same month a year earlier, the slowest February sales in 11 years, while February silver coin sales fell to the lowest since 2008, government data showed on Wednesday. → Read more at reuters.com


 March 2, 2018

Recently, at the monthly Veterans Coffee held at the Gaylord Regional Airport, I presented a World War II veteran with our airport Challenge Coin. A guest at the event approached → Read more at petoskeynews.com


 March 2, 2018

Queuing, cricket and tea represent what it means to be British, according to the Royal Mint, which has launched a new collection of 10 pence coins to showcase the "A to Z of what makes Britain great". → Read more at telegraph.co.uk

Coin Collectors News
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February 2018 Numismatic Legislation Review

I really want to say something pithy in this month’s legislative update, but nothing comes to mind. It is a situation where there is both a lot and a little going on. There is a lot of talk coming from Capitol Hill but there is little else. The number of bills and resolutions have reduced.

To judge the activity of Congress, I use a few sites to send alerts when one of my senators of the representative of my congressional district does something that registers legislatively. Most of the alerts are for votes with the occasional introduction of a bill or being added as a co-sponsor to other bills. In my unscientific view of what these people have been doing since the opening of the second session of the 115th Congress, the answer appears to be “not much.”

Sen. Chris Murphy (D-CT) did cause a little numismatic stir when he introduced the American Innovation $1 Coin Act. Murphy wants to add a $1 coin for each state, territory, and the District of Columbia to honor a significant innovation, an innovator, or a group of innovators. For example, Tennessee could consider honoring the work in Oak Ridge; Florida could consider honoring Katherine Johnson, Dorothy Vaughan, and Mary Jackson; while New Jersey would likely honor Thomas Edison.

Even if it is a good idea, the program will be a failure as long as Congress does nothing to ensure dollar coins are circulated. The only way to ensure dollar coins circulate is to stop issuing the one-dollar note. Given that Congress has a hard time passing budget and spending bills, I doubt they would do anything to change the monetary system, regardless of the savings that have been projected.

On a lighter note, David Ryder’s nomination to become the next director of the U.S. Mint is still on hold while Chuck Grassley (R-IA) pouts from his Senate office.

S. 2399: American Innovation $1 Coin Act
Sponsor: Sen. Christopher Murphy (D-CT)
Introduced: February 7, 2018
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. — Feb 7, 2018
This bill can be tracked at http://bit.ly/115-S2399.

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