Weekly World Numismatic News for June 21, 2020
What is likely the first coin show to scheduled since the shutdowns for the COVID-19 pandemic was approved this week. The Vegas Pop Up Coin Show will be held on July 2-5 at the Palace Station Hotel and Casino.
According to the announcement, the show will have only 15 dealers and no more than 25 people staffing dealer tables. The dealers will occupy 24-foot booths to ensure that there is a six-foot distance between people.
Organizers will control the entry to ensure that no more than 50 people are in the room at the same time. All of these measures comply with Nevada’s social distancing regulations.
The organizer appears to have gone to great lengths to organize a coin show and meet the health requirements of the time. If there are any Coin Collectors Blog readers attend this show, I would be happy to post your report. Just contact me with your information.
And now the news…
June 16, 2020
→ Read more at phys.org
June 16, 2020 → Read more at thisismoney.co.uk
June 19, 2020 → Read more at 8newsnow.com
June 20, 2020 → Read more at news.yahoo.com
June 20, 2020 → Read more at washingtonpost.com
June 20, 2020 → Read more at themarketherald.com.au
Treasury Orders Reduction of Dollar Coins
With the furor over the large number of dollar coins sitting in the Federal Reserve vaults, estimated to be over $1.4 million by a Federal Reserve report, Treasury Secretary Tim Geithner exercised his his authority to “mint and issue such number of $1 coins of each design selected under this subsection in uncirculated and proof qualities as the Secretary determines to be appropriate,” (31 U.S.C. § 5112(n)) and will cease to strike dollar coins for circulation. Dollar coins necessary to meet circulation demand will be drawn from existing inventory. The U.S. Mint will strike dollar coins to meet numismatic demands.
Announced as part of a blog post on the Treasury website by Deputy Secretary of the Treasury Neal S. Wolin, those wishing to purchase future Presidential $1 Coins will be able to purchase them directly from the U.S. Mint starting with the Chester A. Arthur dollar in Spring 2012. Prices and shipping costs will be announced in the near future.
Although this may be seen as a significant move, there is precedent for reducing striking of coins to primarily meet numismatic demand. Using a current example, the last time the U.S. Mint struck the Kennedy Half-Dollar for circulation was in 2001. In 2001, only Denver struck coins were delivered to the Federal Reserve.
Touted as part of President Obama’s executive order that established the executive branch’s Campaign to Cut Government Waste, Treasury estimates that this measure will save at least $50 million annually. Wollin wrote that this is, “the right decision for taxpayers. And going forward, we’ll continue our work to identify additional opportunities to support President Obama’s critical objective to cut waste and improve efficiency across government.”
I wonder if this move will keep any of those bills to eliminate the Presidential $1 Coin Act from even being heard in committee?
Learning More about Vicky Cents of Canada
“Every 1859 cent has something to offer if you look hard enough,” is the quote on the front page of a new website by noted numismatic researcher Dr. James A. Haxby. The website, www.vickycents.com, attempts to document every die variety and die combination used in minting the 1859 Canadian Large Cent.
If you haven’t figured it out, “Vicky Cents” are the cents produced under the reign of Queen Victoria.
The site is not complete and looks like it came online on December 10, 2011, but has some very interesting information on the coin whose handmade dies offers a variety hunter a lifetime treasure trove of searching. However, it looks like Haxby will help collectors of these coins figure out which of the many varieties they have of what seems to be a fascinating coin.
While searching for information about Canadian Victorian Cents, I found a few other interesting sites:
- Some Varieties of the 1859 Canadian Large Cent—This site nicely shows re-punched dates on the dies.
- Victorian Cents of Canada by Rob Turner who produced the two volume catalog, The 1858 Cents of Provincial Canada.
- Canadian Large Cents – A Look at Varieties by Daniel Flynn. I just subscribed to Dan’s blog, Victoria Large Cents of Canada after reading the last few posts.
- A Tribute to the Canadian Large Cent Collection of Norm Pullen. Before Pullen’s 30 year collection of Canadian Large Cent collection was liquidated, Howard Spindel photographed 24 of Pullen’s finest coins to preserve for everyone to enjoy.
- CoinsAndCanada.com is a complete reference of Canadian coin and currency, including price guides.
See what happens when you find an 1899 Canadian Cent in a box that was supposed to only contain United States coins? Now to go learn more about Victorian Cents.
ANA Announces Executive Director Search
On Pearl Harbor Day, the American Numismatic Association dropped its announcement that the Board of Governors have begun their search for the organization’s next executive director. According to the press release, “the executive director must have extensive knowledge of nonprofit management skills with the ability to initiate, implement and successfully complete programs and objectives.”
When reading the full job description, I found the “Personal characteristics” section very interesting. It is the first time I have seen that as a section title, but these characteristics specifically spelled out. The first two (Adaptability and Behave Ethically) appear to be direct responses to the circumstances that lead to Larry Shepherd’s “dismissal.” Anyone who has attended a masters program and was required to take a course in organizational management can think back to the in class discussion of what it means to “behave ethically.” I remember that it was a lively discussion with no clear conclusion.
Regardless of what happened in the past, I hope this section does not put off potential, talented candidates.
If you are qualified and would like to be the executive director of the world’s largest numismatic organization, I encourage you to apply. Remember, the ANA is located in Colorado Springs, location of the Air Force Academy and about 90 miles south of Denver and east of Pikes Peak. I have not visited Colorado Springs (yet), but I hear it is a really nice area.
How to Detect Counterfeit Coins Basics
With the proliferation of fake Chinese coins a problem in numismatics industry, it is a good idea to understand how to tell these fakes from the real coin. The following video from silveragecoins.com shows some of the basics that anyone can use to examine coins to determine if they are real or not:
I like the computer-generated voiceover!
If you are uncomfortable trying to detect whether a coin is counterfeit or not, you might consider the following:
- Buy from a reputable dealer who has return and/or buy back policies.
- If you buy raw coins and have questions, ask that the coin be examined by a third-party grading service (e.g., NGC or PCGS). You may be asked to pay the grading fees. Some dealers may charge a service fee for submitting coins on your behalf.
- If you own coins that you may have questions about, either bring it to a dealer for an opinion or submit the coin to the third-party grading service yourself. NGC and PCGS have membership services to allow you to directly submit coins for authentication and grading. Members of the American Numismatic Association can register to directly submit coins to NGC.
- If you are buying through an online auction and you have any question about the coin, you are better off not trying to purchase it than trying to deal with returns. While there are quite a few reputable dealers who sell on these sites, it may take more than a month for the process from purchase to refund to occur. During that time, you will not have access to this money.
Remember, caveat emptor (let the buyer beware): without a warranty, the buyer takes all of the risk.
For sellers, caveat venditor (let the seller beware): unless you expressly disclaim any responsibility, you will be held liable if the item is not true to its specification.
Now let’s go and have fun collecting!
Treasurer Rios to Autograph FRN
Treasurer of the United States, Rosie Rios, will sign currency notes/sheets at the Bureau of Engraving and Printing Washington printing facility between 10:00 A.M. and 12 Noon on Friday, December 16, 2011. This event is free and open to the public. Reservations are not required. Visitors participating in this even may exchange older $1 Federal Reserve Notes for $1 Series 2009 notes with the signatures of Treasure Rosie Rios and Treasury Secretary Timothy Geithner, or purchase uncut sheets/individual notes in the BEP’s Visitor Center. Please note that there is a limit of two items per person for Treasurer Rio’s signature. The BEP is located at 14th & C Streets, SW, Washington, DC 20228.
Add to 
.
Adapted from the BEP Press Release
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