Weekly World Numismatic News for June 27, 2021
It’s hot out there!
And I am not talking only about the weather.
The collectors’ market is hot.
Buyers are buying all types of collectibles. Items that have not been selling well in the last 10 years are now selling for more than a few dollars. And there is no sign that it will stop soon.
If the collectible market is hot, then the numismatic market is like the weather in Pacific Northwest and Western Canada. The numismatic market appeared to hit a high on June 8, 2021, and it has not stopped. It seems that every few weeks, the numismatic press tells us about another rarity that sold for over $1 million.
Prices are also rising in the regular collectors’ market. Silver coins are selling for significant premiums over what the price guides publish. The premiums have become so big that the price guides are almost irrelevant.
The sensation extends to the entire numismatic market. People buying common coins of popular series are paying significant premiums for the coins like Lincoln Wheat Cents and Buffalo Nickels. Some are complaining that the market is becoming too expensive for the average collector.
It is a mixed feeling for sellers. While their profits are increasing and they can unload items sitting in their shops for years, they cannot find the inventory to sell. Dealers that know I work in the liquidation business have called to ask whether I can find coins. Of course, economists will remind me that when there is a high demand and low supply, the prices rise so that the Supply and Demand curves reach equilibrium. Then they will ask snarkily where I went to school!
As a seller, I love this market. It will help my company’s recovery from the pandemic. As a collector, I think I will concentrate on the less expensive series of interests. Although there’s a National Banknote worth about $1,500 that I have been looking at… (as he stares wistfully off into the distance).
And now the news…
June 23, 2021
→ Read more at tehrantimes.com
June 24, 2021 → Read more at theworldbeast.com
June 24, 2021 → Read more at muslimlink.ca
June 24, 2021 → Read more at businessinsider.com
June 26, 2021 → Read more at northnorfolknews.co.uk
June 26, 2021 → Read more at bbc.com
Whitman wants your imperfect coins
A dateless Buffalo Nickel with acid stain from a pocket change find
Whitman publishing, the people who give us the Red Book and the famous blue folders and albums, is looking for pictures of your problem coins. Here, let Dennis Tucker, Publisher at Whitman, explain:
(Atlanta, Georgia) — Whitman Publishing is looking for sharp, high-resolution photographs or scans of “ problem” coins to illustrate in upcoming books. Hobbyists who share their images will be credited in the books’ acknowledgments.
“Most of the time we show Mint State pieces with strong details, to give our readers a good understanding of each coin type or die variety,” said Whitman publisher Dennis Tucker. “But coins with problems can be educational, too.”
The publishing firm is looking for coins with: PVC damage; bag marks; scratches; edge bumps, nicks, or dents; holes; or extreme wear.
Image files should be at least 300 dpi at two times actual size. Scans and cell-phone photographs are acceptable as long as the image is high-resolution and clearly illustrates the coin’s problem.
Collectors with images to share can contact Dennis Tucker at dennis.tucker@whitman.com.
I do not know what you will get for contributing, probably an image credit, but it could be fun to contribute!
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- 1784 Liberty Cap Head Right Large Cent very porous and cleaned over the years
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- 1789 Draped Bust Large Cent very worn down from over 200 years of handling
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- A dateless Buffalo Nickel with acid stain from a pocket change find
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- This 1927 Standing Liberty Quarter is similar to the one I found in the Hornet’s ashtray.
I’ll take Government Agency for 600, Alex
As seen on the Friday, February 17, 2017 edition of Jeopardy!
Alex: It says it’s “connecting America through coins.”
(contestant buzzes in) “What is the Treasury?”
Alex: No, sorry. Anyone else?
(silence) BEEP-BEEP!
Alex: What is the U.S. Mint.
This was the last of the quarter-finals of the Jeopardy! College tournament. One would think that even if you were not in tune with the working of the U.S. Mint like we collectors that the word “coins” would be a big enough clue. At least one person had the right department!
It’s the weekend and the weather is warming here. I won’t get into a “get off my lawn”-like rant!
A junk box find that is not junk
A few weekends ago, I was out picking when someone offered to sell a box of lapel pins and buttons. Most of the buttons were modern political mainly from the 1988 election through the 2008 election. There was a mix of both major parties along with a number of local and state races, primarily from Virginia.
The box was nothing remarkable. It was originally for high-priced basketball shoes from a well-known company in the western United States. Alongside many of the political buttons were lapel pins and some sports pins. I also noticed some buttons with cute sayings. While being stuck in the fingers I was thinking that I could buy the box and use it as junk filler at a show. Just like coin dealers have junk boxes, those of us in other collectible areas have our versions of junk boxes. In this case, I can lay them out in felt-lined trays and let buyers pick over them for a dollar each.
Flag and ribbon pins always sell. So do buttons that say, “I usually don’t wake up grumpy, I sometimes let him sleep.” This gets the ladies to laugh and look at some of my other items.
After setting up the card table I use to work on this type of sorting, I dumped the box in the middle of the table. Expecting to have to sort through a few hundred pins and buttons when I noticed a 2×2 flip on top of the pile. It was a coin sitting that was sitting in the bottom of the box now at the top of the list of things to look at.
At first glance, I noticed it was not a U.S. coin and thought that it just could be an uncirculated copper-nickel coin until I looked closer. Shifting my glasses to get a better view there was no mistaking the reverse design as a Mexican Liberatad. The 1984 Libertad is clearly marked “1 ONZA PLATA PURA” (1-ounce pure silver) with the obverse declaring it from “ESTADOS UNIDOS MEXICANOS” (United States of Mexico).
I found a beautiful, uncirculated 1984 Mexico Libertad worth more than what I paid for the box!
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- Obverse of a 1984 Mexico Libertad
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- Reverse of a 1984 Mexico Libertad
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- Edge lettering on a 1984 Mexico Liberdad
Although I love large silver coins, I have never owned a Libertad. Did you know that the edge of the Libertad has edge lettering? It reads “INDEPENDENCIA Y LIBERTAD” (Independence and Freedom). The distinctive mintmark of the Mexico Mint is on the reverse and has an overall great look.
I almost did not buy the box!
POLL: Should the ANA and PNG warn consumers about 2017-P purchases?
One day of 2017-P pocket change finds
At the end of the post, I wrote:
Is this something that either the American Numismatic Association and Professional Numismatic Guild should be involved with? PNG did issue a warning about “so called “Trump Coins,’” why not make the public aware that they have all year to purchase 2017-P Lincoln cents?
What do you think?
Should the ANA and PNG issue a warning about overpaying for 2017-P Lincoln Cents
Total Voters: 30
Loading ...2017-P Cents are special, but not THAT special!
2017-P Lincoln Cents are selling for high multiples over face value
I had read a few stories about the one-year-only 2017-P Lincoln cent selling for high multiples online. I had to check it out for myself. What I found are rolls of uncirculated Lincoln cent selling for upward of 20-times face value!
Since the U.S. Mint did not announce that they would be adding the “P” mintmark to the one-cent coin as a one year issue, there has been a frenzy of interest. It seems to the point of overpaying for a coin that is really not worth more than its face value!
These are business strike coins, struck for circulation. They are the coins ordered by the Federal Reserve to satisfy the nation’s commerce. Although they have a mintmark “P,” the U.S. Mint will strike billions of these coins. In 2016, the Philadelphia mint struck over 4 billion one cent coins—4,698,000,000 to be exact.
According to the U.S. Mint production figures, 515,200,000 of the 2017-P Lincoln Cents were struck. Extended out over 12 months, that means the U.S. Mint will strike over 6 BILLION of these coins.
One day of 2017-P pocket change finds
This is an unfortunate state of society. The collective ADD and instant satisfaction will have people spending more than they should only to be disappointed later when the coins are not worth more than face value. It will be like those who bought 50 State Quarters on the home shopping channels only to later realize they would be lucky if they could recover half of what they paid.
I understand that online sellers are trying to satisfy the market. Capitalism at its most greedy. But it is not good for the hobby.
Maybe it is time for the American Numismatic Association and Professional Numismatic Guild to issue a statement warning the public. If these organizations are about protecting the collector, here is a clear case of price gouging that they should show concern!
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