Weekly World Numismatic News for June 14, 2020
According to their survey, most of their readers report that collector coins are outselling all other categories and bringing in the best premiums. The best-sellers are modern bullion coins and Morgan dollars.
Modern bullion coins are not limited to American Eagles. Auction bidders are driving up the prices of Maple Leafs, Britannias, and Libertads. Collector bullion coins, like the American Eagle proofs and Pandas, have realized premiums beyond typical liquidation auctions.
Other categories that are experiencing a spike in sales are mixed lots. Mixed lots of silver U.S. coins are doing the best followed by lots with foreign coins. One dealer sold a lot of 20 holed English pennies for $2.50 per coin. These were coins from the reign of George V and early into Elizabeth II.
Since the readers of the newsletter I receive are dealers in the second-hand and liquidation markets, this is excellent news. The bad news is that it is becoming challenging to find inventory to resell.
And now the news…
→ Read more at harwichandmanningtreestandard.co.uk
→ Read more at lcsun-news.com
→ Read more at theconversation.com
→ Read more at georgiatoday.ge
How Can We Expand Our Hobby
Are you a member of a club?
Are you a member of a club within your collecting interest whether that is collecting coins, banknotes, tokens, medals, scripophily, or ephemera?
If not, why?
I am a member of a few organizations, but my most satisfying experiences has been with my local coin club. Aside from the camaraderie of meeting with fellow collectors, I can be a participant in a way that I may not be able to as a member of a larger organization.
My local club meets once a month. At our meetings we encourage members to bring in some of their numismatic-related collectibles for an exhibition section to show to other members. One evening, I brought my iPhone to show off the Money Reader apps that visualize currency and announce the denomination. Our members have such varied interests that we never know what a member will show off.
We also have an education segment that is a 30-45 program focused on something related to numismatics. Speakers have included noted authors, prominent dealers, government officials including members of the U.S. Secret Service, and club members presenting something of their interest. We have also screened videos related to numismatics. This summer, I plan to screen a video from the History Channel about U.S. Bullion Repository at Fort Knox.
After a light snack that is paid for by members contributing money in a jar at the table, we hold an auction of up to 40 items that are mostly under $50. There are door prizes of (mostly) foreign coins and a raffle of a gold coin worth $50 or less—the coins are usually made from one-twenty-fifth of an ounce of gold.
Our goal is to allow everyone to participate in their own way.
Like a lot of clubs, we have one significant problem: our membership is mostly white, male, and aging.
The aging membership is not a problem if there are younger members to provide balance. But like a number of clubs, I am not seeing that many younger new members in my club or in other clubs I have observed. We want younger members to join our aging members—we can learn from our different perspectives.
The divide between the sexes has been documented in a lot of areas. While Women In Numismatics tries to engage and recognize the accomplishments of women participating in numismatics, they have worked more on a national level without reaching out to clubs to help bolster the participants of local women.
And why is numismatics almost an exclusively white hobby? We have had African-American visitors to our club meetings and have tried to make them feel as welcome as other visitors. Unfortunately, they never return. When I go to the Whitman Baltimore Show this weekend, it will be mostly a white affair. Where are the minorities? I am sure there are minorities who collect, but why do they not come out?
Local, regional, and national clubs must think about diversifying. Numismatics must recruit younger people aside from the Young Numismatists, women, and minorities. But how do we do that? Since I am not a member of any of these demographic groups, I need help to figure out how to recruit existing young, women, and minority collectors as well as new collectors.
If you have an idea, please leave a comment here.
BOOK REVIEW: One of a Kind
Could you build a story around the appearance of a fabled coin and make it an interesting read? We know there are true stories about the 1913 Liberty Head nickels and the 1933 Saint-Gaudens Double Eagles. But what would happen if the little known 1873-S Seated Liberty Dollar was discovered and put up for auction?
Numismatist know that the Coinage Act of 1873 put the United States on the gold standard and demonetized silver. This law hurt western mining interests who wanted both gold and silver to remain in circulation. It became known as the “Crime of ’73.”
At the U.S. Mint, the branch mint in San Francisco reported that it struck 700 Seated Liberty Coins but none have ever surfaced. What happened if one was found that was a heirloom of a rich family from the west coast? Then what would happen if the patriarch dies, wills the coin to a maid/personal assistant who then consigns it to an auction that attracts worldwide attention. This is the premise of the novel One of a Kind by Barbara Erlichman.
According to her bio, Barbara Erlichman was raised in England and came to the United States intending to work her way across America. Arriving in New York, she met her future husband and they started a rare coin business. Based in New York, they traveled throughout the United States and Europe buying coins and collectibles. When she contacted me about her book, she and her husband retired to Florida and this this is her first book.
One of a Kind weaves together four plot lines surrounding the auction of this one of a kind coin. Adam Sloan is the son of the business man who died and left the coin, a family heirloom, to his maid. Sloan, who is successful running the family business in his own right, wants the coin back because of its family heritage. Claire Waring, the efficient assistant of the head of the company handling the auction, has a personal stake in wanting this auction to go well. Ex-union boss Salvatore Corelli and his daughter Lucia returns to New York from their self-imposed Florida exile where Salvatore was convalescing after having two heart attack, to add this one last coin to his collection. Howie Roth is a vest pocket dealer, working the shows just to make it through his life, comes up with a scheme to try to get the coin before the auction. Finally, Lord Welton, whose passion are unique items, brings his American wife “back home” in his quest for the elusive coin.
Claire, who was tasked with organizing the auction, becomes a central focus as the lot viewing begins four days before the auction. As the organizer, she meets with each of the potential bidders as they view the lot and with Adam Sloan, who was trying to convince the auction house not to auction his family’s prized possessions.
With everyone in New York and vying for this prize, Lucia, whose physical appearance is first described in a less than flattering light, meets Howie and Lord Welton’s personal aide. Lucia falls for both but did not like ones approach over the other. She ends up falling into the arms of one of these men whose life changes from then on.
After arguing with the auction house and being stood up to by Claire, Adam Sloan becomes intrigued with her but finds out that her situation is more complicated than expected. Still, Adam pursues Claire almost losing interest in the coin. Then Lady Welton comes in to make the interaction interesting.
In the mean time, Howie looking for easy money convinces Salvatore Corelli to go along with his scheme until Lord Welton somehow finds out and makes Corelli an offer he cannot refuse.
Intrigued? You will have to read One of a Kind to find out more. Most of the interactions between these story lines in pursuit of the coin are nicely woven. The romance that is struck between some of the parties seem a little shallow. While certain passages make this book adult reading, some of these encounters seem like they move too quickly.
As for the description of the auction, the circumstances around the auction, the life of a dealer, coin shows, and the attitudes of all involved, Erlichman relies on her many years of experience traveling with her husband to coin shows to make the scenes more realistic. Her English heritage and life in New York City also adds to the richness of how the characters interact, especially when dealing with collecting coins. Erlichman’s handing of the setting allows the reader to absorb the story without the background becoming a distraction.
By the way… you have to read the book through the “Epilog” in order to find out what really happened to this one of a kind coin. It is a worthwhile twist!
I do not read fiction that often. Aside from my numismatic interests, my interest in history and politics have been filling the ebook apps on my iPad. After receiving a copy of the book from the author, I decided I would finished reading other books I started to concentrate on this one. Since this is not a numismatic book but a work of fiction surrounding a numismatic setting, I am giving One of a Kind a specimen grade of SP67 (remember, the Sheldon scale is based on 70 points) downgrading it just a little because the relationship development seems a little shallow. Over all, the book is a comfortable read for those interested in numismatics. New Yorkers, or transplanted New Yorkers, should also feel a home with the mental image of the scenery. If you are uncomfortable with the description of sexual encounters, then you could scan past those passages—these sections are not overly graphic but not suitable for younger people. Otherwise, you should enjoy reading One of a Kind.
Honoring Our Veterans
On the “eleventh hour of the eleventh day of the eleventh month” in 1918, hostilities were ended on the Western Front of World War I. Although this is accepted as the end of the “War to End All Wars,” fighting continued across the Russian Empire and in areas of the old Ottoman Empire. A year later, President Woodrow Wilson proclaimed November 11 Armistice Day as a national holiday to celebrate those who served and honor those that died.
Alvin King, a shoe repair shop owner in Emporia, Kansas, had the idea to celebrate all veterans on November 11. King lobbied the city of Emporia to close in honor of all veterans. Representative Ed Rees of Emporia shepherded a bill through congress to rename the holiday Veterans Day to honor all who have served. President Dwight Eisenhower signed the bill into law in 1954.
If you are looking for a way to honor veterans, consider supporting The Army Historical Foundation and their effort to build The National Museum of the United States Army. You can support their efforts by donating to the organization or by purchasing a 2011 United States Army Commemorative Coin. Available as a $5 gold coin, $1 silver coin, and half-dollar clad coin, the surcharges ($35 gold, $10 silver, and $5 clad) will be paid to The Army Historical Foundation to support the construction of the museum.
Take this opportunity to honor the nation’s veterans and support this worthy effort.
To all that have given the ultimate sacrifice…
To the families of these honored service members…
† From the Veterans Day, 2011 Presidential Proclamation signed by President Barack Obama.
Veterans Day 2011 poster courtesy of the Department of Veterans Affairs.
Coin image courtesy of the U.S. Mint.
And the Coin of the Year Nominees Are…
Krause Publications announced the Coin of the Year (COTY) nominations for 2012. Coins nominated for the 2012 COTY Award were released in 2010. According to Krause, nominees are judged by a panel of mint and museum officials, numismatic journalists, and individual experts from around the world. Winners are selected in each category (see below) and one coin is selected as COTY.
Once the category winners are announced, an online poll will be made available on their website numismaster.com for readers to vote on their favorite. The winner will be awarded the People’s Choice award.
Awards will be presented at the World Money Fair in Berlin, Germany during the first weekend of February 2012.
And the nominees are…
Most Historically Significant Coin
- Bank of Lithuania – Battle of Gruenwald, 500 Litas, gold, KM #173
- Royal Canadian Mint – 400th Anniversary of Hudson Bay, 100 Dollars, gold KM #997
- Coin Invest Trust acting as agent for the country of Cameroon, Shroud of Turin, 1000 Francs, silver, KM #38
- Israel Coins and Medals Corp, Old Akko, 10 New Shequalim, gold, KM #470
- British Royal Mint, 350th Anniversary of the Restoration of the Monarchy, 5 Pounds, silver, KM #1151a
- Mint of Poland acting as agent for Niue – Czar Peter the Great, One Dollar, Silver, KM #433
- Netherlands Mint Max Havelaar, 5 Euro, silver, KM #294
- National Bank of Ukraine – 600th Anniversary of Gruenwald, 20 Hryvin, silver, KM #596
- National Bank of Portuagal, Torres Defense Line, 2.5 Euros, Silver, KM #800
- National Bank of Belarus, Battle of Gruenwald, 50 Roubles, Silver, KM #270
Best Contemporary Event Coin
- National Bank of Cyprus 50th Anniversary of the Republic, 5 Euro, silver, KM #94
- Monnaie de Paris – Georges Pompidou Center, 10 Euro, silver, KM #1066
- Mint of Poland 65th Anniversary of Auschwitz Libertion, 10 Zlotych, Silver, Y #713
- German Federal Ministry of Finance Unity, 10 Euro, Silver, KM #290
- South African Mint World Cup, 1 Rand, gold, KM #508
- Hungarian Mint The Ballpoint Pen, 1000 Forint, copper nickel square, KM #818
- National Bank of Morocco – 35th Anniversary of Green March, 250 Dirhams, Y #132
- China Gold Coin Corp – 30th Anniversary of the Founding of the Shenzhen Special Economic Zone, 10 Yuan, silver, KM #1953
- Royal Canadian Mint, 75TH Anniversary of Canadian Banknotes, 500 Dollars, gold, KM #1007
- Bank of Latvia 20th Anniversary of Modern Republic, 1 Lats, silver, KM #113
Best Gold Coin
- Perth Mint Kangaroos fighting, 100 Dollars, gold, KM #1365
- Denmark National Bank 70th Birthday of Queen Margaret, 1000 Kroner, gold, KM #939
- Israel Coins and Medals Corp. Tower of David Near the Jaffa Gate, 20 New Shequalim, gold, KM #467
- Mint of Finland 150th Anniversary of Autonomy, 100 Euro, gold, KM #150
- British Royal Mint London Olympics, 100 pounds, gold, KM #1162
- China Gold Coin Corp Year of the Tiger, 5 ounce, 2000 Yuan, KM #1914
- National Bank of Argentina World Cup, 10 Pesos, gold, KM #163
- National Bank of Ukraine Panticapeum Ruins, 100 Hyrvin, gold, KM #597
- Italian State Mint Arts of Europe Sweden, 20 Euro, gold, KM #335
- Royal Canadian Mint Prairie Crocus, 350 Dollars, gold, KM #1019
Best Silver
- National Bank of the Republic of Belarus Battle of Gruenwald, 20 Rubles, silver, KM #239,
- National Bank of Russia Saint George, 3 Roubles, Y #1214
- National Bank of Hungary Orseg National Park, 5000 Forint, silver, KM #820
- Czech National Bank Marriage of John of Luxembourg, 200 Korun, silver, KM #115
- National Bank of Lithuania Brazai Castle, 50 Litu, silver, KM #170
- German Federal Ministry of Finance Konrad Zuse, 10 Euro, silver KM #289
- Japan Mint Aomori Prefecture100 yen, silver, Y #168
- Austrian Mint Erzberg in Styria, 10 Euro, silver, KM #3185
- Italian State Mint Giorgione 500th Anniversary of Death, 10 Euro, silver, KM #333,
- New Zealand Mint acting as agent for the country of Niue Antilocapra Americana, One Dollar, silver, KM #234
Best Crown
- National Bank of Ukraine Pottery, 10 Hryven, silver, KM #605
- New Zealand Mint acting as agent for the country of Niue Sitting Bull, One Dollar, Silver, KM #394
- Perth Mint Koala Coin, One Dollar, Silver, KM #1464
- Andorra Mint Brown Bear, 5 Diners, Silver, KM #315
- Monnaie de Paris Mother Teresa, 10 Euro, silver, KM #1695
- Kazakhstan Mint Deer Buckle, 500 Tenge, silver, KM #179
- United States Mint Boy Scouts, One Dollar, silver, KM #480
- Coin Invest Trust acting as agent for the country of Samoa Flying Fox, 10 Dollars, silver, KM #173
- Coin Invest Trust acting as agent for the country of Togo Sunbird, 1000 Francs, silver, KM #48
- China Gold Coin Corp. Year of the Tiger, 50 yuan, silver, KM #1921
Best Trade
- Mint of Poland August of 1980 Solidarity, 2 Zloty, Brass, Y#737
- United States Mint Native American Dollar, One Dollar, Copper-nickel, KM #474
- National Bank of Argentina Silver Sea, One Peso, Copper Nickel, KM #158
- National Bank of Denmark Greenland Kayaking, 20 Kroner, Aluminum-bronze, KM #940
- Japan Mint Gifu Prefecture, 500 Yen, Bimetallic, Gifu Prefecture
- Lithuanian Mint Battle of Grunwald 600th Anniversary, 1 Litas, Copper-nickel, KM #172
- National Bank of India Mother Teresa, 5 Rupees, Stainless Steel, KM #381
- National Bank of Venezuela 200th Anniversary of Independence, 25 Centimos, Nickel-plated steel, Y #99
- National Bank of the Republic of San Marino 500th Anniversary Death of Botticeli, 2 Euro, Bimetallic, KM #494
- Royal Australian Mint Sheep Industry, 20 Cents, Copper-nickel, KM #1502
Most Popular
- Perth Mint 50 Cents, silver, Kangaroo Bush Babies, KM #1456,
- United States Mint Hot Springs National Park, 25 Cents, Copper nickel, KM #469
- Coin Invest Trust acting as agent for the country of Benin Marijuana Coin, 100 CFA Francs, Copper-Nickel Silver plated, KM #53
- Royal Canadian Mint Poppy Coin, 25 Cents, Nickel finish on Steel, KM #1028
- Austrian Mint Philharmonic, 1.5 Euro, One Ounce, Silver, KM #3159
- Coin Invest Trust acting as agent for the country of Tuvalu Brown Snake, One Dollar, Silver, KM #134
- Mint of Sweden Wedding of Princess Victoria, 300 Kronor, Silver, KM #917
- Royal Mint London Olympics, 5 Pounds, Sterling Silver, KM #1139a
- Perth Mint Discover Australia Koala, 15 Dollars, Silver, KM #1405,
- Banco de Mexico Morelos, 5 pesos, bimetallic, KM #923
Most Artistic
- Israel Coins and Medals Corp. Jonah and the Whale, 10 New Shequalim, Silver, KM #477,
- Perth Mint Sydney Cove Medallion, One Dollar, Silver, KM #1568
- Fiji H.C. Andersen’s The Nightingale, One Dollar, Silver, KM #127
- Kazakhstan Mint Pelicans, 500 Tenge, Silver, KM #177
- Italian State Mint Aquileia, 10 Euro, Silver, KM #334
- Bank of Latvia Amber Eye, 1 Lats, Silver, KM #109
- Royal Canadian Mint Polar Bear, 3 Dollars, Silver gilt square, KM #1051
- China Gold Coin Corp Chinese Grotto Art, 300 Yuan, Silver, KM #1950
- Coin Invest Trust acting as agent for the country of Palau Tiffany Art Rococo, 10 Dollars, Silver, KM #252,
- Czech Mint Alphonse Mucha, 200 Korun, Sterling silver, KM #114
Most Innovative
- Coin Invest Trust acting as agent for the country of Cook Islands Obama/King, 5 Dollars, Silver, KM #729 &730
- Royal Canadian Mint Year of the Tiger Hologram 150 Dollars, Silver, KM #979
- Coin Invest Trust acting as agent for the country of Niue Seven Pointed Christmas Star, One Dollar, Silver, KM #422
- Coin Invest Trust acting as agent for the country of Palau Dealer Button Insert with Playing Cards, One Dollar, Silver, KM #307
- Coin Invest Trust acting as agent for the country of Ivory Coast Qibia Compass, 1500 Francs, Silver, KM #7
- Japan Mint Sakamoto, 1000 Yen, Silver, Y #160, First Effigy of a Real Person
- Perth Mint acting as agent for the country of Tuvalu Gustav Mahler, One Dollar, silver, KM #124, Depicts Musical Score
Most Inspirational
- Royal Australian Mint Fred Hallows Inspirational Australians Healthcare, One Dollar, Aluminum Bronze, KM #1496,
- New Zealand Mint acting as agent for the country of Cook Islands Windows of Heaven, 10 Dollars, Sterling Silver, KM #1258
- Mint of Poland 30th Anniversary of Solidarity, 10 Zloty, Silver, KM #738
- Austrian Mint Barron Clemons Von Pirquet Children’s Clinic, 50 Euro, Gold, KM #3194
- Royal Mint London Olympics 2012 – Olympic Strength, 5 Pounds, Silver, KM #1155
- Royal Canadian Mint Remembrance Day Poppy, One Dollar, Silver, KM #1050
- Andorra Mint Gabriel and Mary Christmas Coin, 25 Diners, Gold, KM #288
- Mint of Finland Children and Creativity, 20 Euro, Silver, KM #1532
Trick Or Treat
In celebration of All-Hallows-Eve, the Coin Collectors Blog presents some of the 2011 numismatic trick-or-treat.
TRICK: Anyone who tried to order the 25th Anniversary American Silver Eagle Set starting at 12:00 Noon ET on Thursday, October 27 found that the U.S. Mint provided the most recent trick by not being able to keep up with the ordering demand
TREAT: If you were able to order your set, it should be a fantastic collectible.
TRICK: There is never a good way to handle certain personnel issues. But regardless of whose feelings were hurt, the last statement issued by the ANA Board of Directors was unnecessary, uncalled for, and really lacked and an adult approach to a tough situation.
TREAT: The ANA actually using social media to reach out to members and respond.
TRICK: The ANA Board of Directors making a myopic decision on how to handle club tables at their shows. Rather than make simple rules saying that the tables must be staffed at all times except during meetings, the Board went beyond reasonableness and added restriction as to how many clubs could share a table.
TREAT: A regional organization could have one table with the support of member clubs and tangentially fit within the rules. After all, these are “members” under one umbrella organization and only members will be staffing the table without violating the ANA’s ridiculous rules.
TRICK: National Public Radio did a highly inaccurate story about how the Federal Reserve is holding more than $1 billion in dollar coins in its vaults costing the taxpayers money.
TREAT: Rep. David Schweikert (R-AZ) introducing H.R. 2977, the Currency Optimization, Innovation, and National Savings Act (COINS Act) to transition the U.S. from paper dollars to coins. Add to this the unconfirmed rumor that the “Super Committee” is considering adding this to their final bill.
TRICK: Since the resignation of Ed Moy as Director of the U.S. Mint, the position has gone unfilled.
TREAT: Since being hired as Deputy Director on January 25, Richard Peterson has lead the U.S. Mint in a professional manner questioning whether the U.S. Mint really needs a politician as a director. As for the problems occurred while ordering the 25th Anniversary American Silver Eagle Set, it could be said that the systems not being able to keep up with the loads are a residual problem left over from the previous director not managing the technology properly.
TRICK: As a concept, the Citizens Coinage Advisory Committee’s report “A Blueprint for Advancing Artistic Creativity and Excellence in United States Coins and Medals” should not be controversial. However, it seems that the CCAC has found two ways of making a good idea irrelevant. First, the CCAC, whose first “C” stands for Citizens, forgot the citizens. They created the report and did not ask for comment from the citizens. Even though I provided comments, I was basically told, “Thanks, but no thanks.” It would be nice if they were inclusive. The other TRICK was that the report has appeared to have become shelfware—a document sitting on the shelf without impact.
TREAT: Even with the issues in the report, it is a step in the right direction and should be something the U.S. Mint should be working on now!
What are your numismatic trick-or-treats for 2011?
Image is of a 2007 $200 commemorative casino token from the Four Queens Hotel & Casino, Las Vegas, NV. Image is courtesy of the Silver Strikers Club. Details of this token can be found on the Silver Strikers Club website.
