An Interesting Pocket Change Find
After a busy and short week, I finally had a moment to empty my pockets and examine the week’s change. Even after all of these years, I continue to search through my pocket change to try to find something interesting. These days I most look at the quarters trying to find an elusive W mintmark.
As I looked at the pile, I was drawn to something very different. It was larger than a quarter. When I picked it up, I noticed that it was a 1971 Mexican one peso coin.
Thinking back from when I last emptied my pockets on Saturday to yesterday, I cannot remember when I could have received the coin. At the grocery store, I tend to use the self-service checkout lane, especially at night, when I am too tired to attempt a coherent conversation. Coin-op devices will not accept or dispense foreign coins.
I tried playing MegaMillions and Powerball. Most stores now have automated machines that only accept credit cards and paper money.
During my periodic coffee stops, I use the app to make those purchases with no chance to gather more coins.
If I received the peso instead of a quarter, I lost 20-cents in the transaction. At current market rates, the peso is only worth 5-cents. The coin might have a numismatic value of about 20-40 cents.
Regardless of the net results, it is a fun pocket change find.
Cliff Mishler Elected ANA President
The American Numismatic Association has announced [pdf] that Cliff Mishler, the retired president and CEO of Krause Publications, has been elected the 56th President of the ANA. Mishler defeated current ANA Vice President Patti Finner with 61-percent of the votes cast.
Tom Hallenbeck ran unopposed for Vice President and will join the new Board.
Elected to the Board of Governors are incumbents Chet Krause, Joe Boling, Walt Ostromecki, and Wendell Wolka. Joining them will be newly elected Governors Scott Rottinghaus, J.P. Martin, and Jeff Garrett.
This election was less contentious than the last when every incumbent was defeated. We can credit this relative calm to the good work of the outgoing Board of Governors lead by the current ANA President Barry Stuppler. Credit also has to be extended to Executive Director Larry Shepherd who appears to have helped get the ANA closer to a more solid economic footing.
Congratulations to the 2009-2011 ANA Board of Governors. As an ANA member, I hope you continue with the success and recovery of the organization.
30th Anniversary Panda Bullion Coins
Fans of the Chinese Panda can look forward to a special edition bullion coin to commemorate 30 years of producing bullion coins. Although the Panda began its production in 1982, The People’s Bank of China has been producing bullion coins since 1979.
The basic design of the coin will be the same as the regular 2009 issue. The obverse of the coin features the Hall of Praying for Good Harvest of the Temple of Heaven in Beijing, the title for the Peoples’ Republic of China in Chinese, and the year. Added to the lower half of the edge will be “30th Anniversary of the Issuance of the Chinese Modern Precious Metal Commemorative Coins” in Chinese.
The reverse will feature the panda design for 2009 with a border that will include “30th Anniversary of the Issuance of the Chinese Modern Precious Metal Commemorative Coins” in English. The weight and fineness of the metal will be placed at the bottom of the design just above the border.
This commemorative series will consist of a one-quarter ounce gold coin and a one-ounce silver coin. The gold coin will be made of one-quarter troy ounces of .999 gold, 22 millimeters in diameter, and have a face value of 100 Yuan. The silver coin will be made of one troy ounce of .999 fine silver, 40 millimeters in diameter, and have a face value of 10 Yuan. Mintage is limited to 10,000 gold and 300,000 silver coins.
Coins will be struck at the Shenzhen Guobao Mint and officially distributed by China Gold Coin, Inc., a corporation of the People’s Bank of China.
It looks like I will have to add the silver coin to my want list in order to keep up with the series.
Image courtesy of China Gold Coin, Inc.
Combating Unethical Behavior at Shows, Mr. Ambassador
Earlier this week I read Top 10 “Coin Dealer Ethics” by Susan Headley of About.com. The article is a compilation of the ten most incredible stories she has collected about the less-than-ethical behavior of some coin dealers.
The same day, noted numismatic researcher and author Roger Burdette posted a note on the Collectors’ Society forums that read:
Coin-business people are often the newcomer’s earliest contact with the hobby. That is the best, and often only, chance to create a positive impression of coin collecting. When coin-businesses project an attitude of integrity, honesty, veracity and patience the “newby” is more likely to find the hobby appealing.
With millions of people casually collecting state quarters and other circulating novelties, the typical coin show bourse is still the same-old-same-old. So many dealers exhibit callous, impatient and careless attitudes that I can’t blame new potential collectors when they switch to beanie babies or ceramic insulators.
[I spent about ½ hour at the recent Baltimore show. As I was leaving I saw the perfect turn-off to coin collecting. A teen approached a dealer’s table with a folder of state quarters, and asked what they were worth. The dealer glanced at the cover and said “Junk, Nothin’“ and turned away. The teen walked out, his hopes clearly deflated. Is this how “first contact” is handled in our hobby? ]
As with every story, there are two sides.
Those of us who enjoy this hobby wants to encourage others to join us and have as wonderful experiences as we have. We talk about these wonderful shows with rows of tables with dealers selling almost every type of coin known in the collecting world. When these new collectors find their way to Baltimore for their first show, its size can be intimidating.
On the other hand, the dealer is a business person. Dealers on the bourse floor are trying to earn a living—which may not be easy in these economic times. They earn that living by selling what they think their buyers want. When walking the bourse floor, if all the dealers seem to be selling similar merchandise, it is because the dealers are showing what they think will sell. If you are not interested in what they are selling, someone is and they would rather talk with those who are willing to buy the merchandise. Even though we think of it as a hobby, it is the dealer’s livelihood.
This does not mean that the dealer should take advantage of a novice or non-collector. It also does not mean that a dealer should be rude to the teenager with a 50 State Quarters album. After all, that young person could be a future client or decide to avoid your offering in the future.
We may not be able to send every dealer to charm school, but we can help those new, novice, and non-collectors survive the bourse floor. A thought I had was that local clubs could sponsor “Numismatic Ambassadors.” The Numismatic Ambassador would be available at the shows to answer the questions of the new or novice collector. Ambassadors would be at a table just outside or near the entry as well as walking the floor wearing something to identify them to those looking for help. At American Numismatic Association shows, the host clubs can work with the ANA to supply Numismatic Ambassadors supplemented by other members.
If you are in a club and there is a show in your area, suggest that the club work with the show organizers to provide Numismatic Ambassadors for the show. Convince the show organizers to advertise that the Numismatic Ambassadors will be available to help the inexperienced collector and who is sponsoring the program. This will help the show organizer attract more people. It will also allow the club to meet new people and possibly sign up new members.
What do you think?
Personalize Your Collection
While attending the Whitman Baltimore Coin and Currency Show, I was privileged to have a conversation with American Numismatic Association Vice President and Presidential candidate Patti Finner. Finner was in her usual location, the Kids Korner at the show. While talking about various aspects of numismatics, I asked about keeping people interested during that period after being a Young Numismatist and rediscovering the hobby later on.
I understood the problem when I returned to the hobby in my 40s after aspects of my life settled. I was collecting state quarters out of change and placing them in a colorful folder before diving back in. When I returned to numismatics, I continued the traditional collecting as I did when I was younger. I found old folders and albums, updated them to new materials, and started to buy coins from local dealers, online, and coin shows. I was filling albums, buying lots, and selling off the excess so that the proceeds could be used to support my new habit.
Over the last few years I have filled up many albums, purchased some key coins, and created a nice collection of series by date and mint mark. While there was something satisfying about this, I wanted more.
More came in the form of registry sets, bullion silver with different designs, as well as medals and tokens that have meaning to me. I then discovered that collecting this exonumia was not only fun but it was not expensive. But I was having a difficult time figuring out how to make this interesting to an average collector. Then I spoke with Ms. Finner.
Finner’s idea is to create a personal album of coins. Regardless of how you organize the collection, her idea is to document where you received the coin, how much it is worth or you paid for it, when it was acquired, and any other facts about the coin that is important to you. She told me how some were creating databases or writing it on paper and placing it between pages, and a few other ideas.
When I returned home after the show, I opened a three-ring notebook containing paper currency and saw the two 1912 Russian notes that belonged to my late grandfather when his family arrived in the United States from Lithuania. The notes were given to me after my grandfather passed away. While thinking about what Ms. Finner had said, I typed information regarding their provenance: who they belonged to, how I obtained them, and other information about the notes including estimates of their value. The page I created was inserted into the binder behind the note.
I thought this was a great idea that I started to create pages for the notes and other items in that binder. For example, I have ticket stubs from the 1986 National League Championship Series and World Series. I created pages for those items including box scores that I found online. Documenting a collection like this takes it from a series of coins to a personal collection. It adds history and provenance to the collection.
After telling this to a friend, he created his own album. My friend had taken the coin boards that the US Mint has been producing the first three years of the Presidential Dollars and created pages to hold the boards and a sheet of paper where he could document the history of the coins. He used a one-pocket mylar page creating a pocket using a food sealing machine. He created two binders for each of his children and is considering doing the same for the 50 State Quarters.
For those 20- and 30-somethings who are establishing themselves in their careers and with families, this is an opportunity to create a family collection and tell a story that documents the family history with the coins. For those with children, it is also something you can do together.
This can be done using coins, tokens, currency, medals, or anything collectible. Make it a project. Share the project. But the most important thing to remember is to make it fun!
US Mint Subleases Part of their HQ
In a sign of the times, the US Mint announced that they have sublet a part of their headquarters at 801 9th Street, NW, Washington, DC for retail space. The least is for ten years with two five-year options.
The southwest corner of the building is the corner of 9th Street and H Street, NW. It is the near Washington’s Chinatown section and two blocks from the Verizon Center, home of the Washington Wizards professional basketball team and Washington Capitals professional hockey club. The area around the Verizon Center is a popular, revitalized section of Washington.
This space is being leased to Cuba Libre, a Cuban restaurant and rum bar based in Philadelphia that has restaurants in Atlantic City and Orlando. Cuba Libre’s great reputation will only add to the overall neighborhood that includes restaurants representing the cuisines from many areas of the world. As a fan of Cuban food, I am looking forward to their opening.