Collectors are upset with the Mint but there may be a solution
The result of the sale of the Enhanced Reverse Proof 2019-S American Eagle continues to reverberate through the hobby. Industry reporters continue to hear from collectors that they feel like the U.S. Mint is taking them for granted.
The biggest question is, how did all of these dealers get these coins in inventory? How did others find the stock to flip on sites like eBay?
Dealers and speculators are at it again. It is similar to the chaos they caused for the opening of the 2014 JFK 50th Anniversary Gold Proof Coin. They hired people to shand in line for them who caused a near riot. Now, they have taken these manners to cyberspace.
How can the U.S. Mint fix the issue?
The best answer I have heard came from William T. Gibbs at Coin World, who suggested a dedicated sales window for established customers. Gibbs wrote:
What an excellent idea!
The U.S. Mint can create a “Collector’s Club” where non-commercial customers can earn points. The more points, the closer to the front of the line you get to access limited edition items. They can slowly add perqs for better customers, including levels for reduced and free shipping.
There is no reason to prevent the U.S. Mint from making the Collector’s Club a policy. The only question is whether they have the wherewithal to implement something like this. I do not think they do, but I hope they prove me wrong!
The 2009 ANA Elections
Now is the time for all good members to vote for their governors of the ANA. This turn of that infamous typing phrase was not updated to exercise my typing skills. It is to remind ANA members that the ballots you received last months need to be received by the accounting firm of BiggsKofford on or before June 26, 2009. My ballot was mailed last Friday on my way to Baltimore.
While this ANA election is not as contentious as the previous one, it is important that the ANA members be heard. Newly employed Executive Director Larry Shepherd has done very well in facilitating the ANA’s recovery. But there continues to be issues lingering from previous problems. These problems need resolution while further refining the mission of the organization to better serve its members. We all know that the economy is not doing well, but this means that it is a good time for the ANA to address issues that will carry forward to better times.
As I filled out my ballot, I first considered whether the incumbents should be re-elected. Considering how much better the organization is running, I think that most of the incumbents should be retained. They should be allowed at least one more term to allow them to see their work through. Of the incumbents I am endorsing are Joe Boling, Walt Ostromecki, and Wendell Wolka. With all due respect to Chet Krause and Alan Herbert, it might be time to allow for others with different ideas.
To fill out the slate, I am endorsing Mike Ellis, Tom Palmer, Scott Rottinghaus, and Michael Turrini for the Board of Governors. Amongst the list, the most interesting of the candidates is Rottinghaus, a former Young Numismatist award winner. He is the youngest candidate of the list and probably more representative of the future of the ANA than any of the other candidates. I think it is important for the Board to have a different perspective and from what I read, I believe that Rottinghaus will provide that perspective.
Tom Hallenbeck is unopposed as the candidate of the Vice President.
The most interesting race is for ANA President where Patti Finner and Cliff Mishler are trying for the top job. Both are very experienced and respected within the ANA and both would make a good president. But only one can serve in the office.
Since the election of the previous Board of Governors, aside from fixing the business issues of the ANA, a priority has been to have the ANA return to its core mission of education. To demonstrate the current Board’s commitment to education, the board created the Florence Schook School of Numismatics. Schook, a former ANA President who died in 2006, was well known for her commitment to numismatic education. The ANA has been using this as a way to expand their numismatic programs outside of ANA conventions and the Summer Seminar.
But the ANA continues to have business-related issues that include lawsuits and a diminishing membership that must be addressed. Although the ANA is not drawing down its endowment like in the past, a steady hand is needed to rebuild its financial foundation.
When considering the two candidates, the education record of Patti Finner is something that really stands out in this environment. Finner works with many organizations to push numismatic education and is also a fixture at the Baltimore coin shows at the Kids Corner. Her passion for education can be infectious, too. You cannot visit with her and not walk away wanting to help with her education mission.
Mishler is a strong manager. A retired executive with Krause Publishing, Mishler has the background and the knowledge to help lead the ANA through the rest of its recovery. Readers of Numismatic News can read about his numismatic treks mostly through the midwest and how he works with many organizations to help in their success. It would be interesting to see how he could carry that out on a national level.
If Mishler was qualified to run two years ago, I think he would have been the the best person to be ANA president. However, the ANA seems to be turning around under the very capable leadership Larry Shepherd as the Executive Director. With that part of the organization improving, the ANA needs to do a better job with education and retaining members, specifically adults in their 20s and 30s who drop out of the hobby because of other obligation. I believe that education will build the organization, bring in new members, retain members, and start the training the numismatic leaders of the future. With that in mind, I am endorsing Patti Finner to be elected the next President of the ANA.
Whether you agree or disagree with me, please ensure that you mail your ballot so it is received by the accountants by June 26.
Sunday Afternoon in Charm City
Sunday traffic to Baltimore was not bad. Even though the Orioles were playing the Atlanta Braves at Camden Yards (the O’s crushed the Braves 11-2), there was not a lot of traffic in downtown Baltimore. I was able to park in my usual overpriced location at the Sheraton Inner Harbor Hotel and hobbled my way through the lobby, up the escalator, to the walkway between the hotel and the Baltimore Convention Center.
I know that some dealers wanted Whitman to bring back Sunday hours, but when I was there the floor was empty. It appeared that more than half of the dealers left before the Sunday session but the number of people there appeared less than I saw before closing on Friday. Maybe this is not a good indicator of the potential for Sunday attendance because of the nearby Orioles’ game. Rather than regular parking rates, nearby lots charge “event rates” which may keep people away. The next Whitman Baltimore show will be November 12-15. The Baltimore Ravens, who play in nearby M&T Bank Stadium, will play on Monday night that week. We will see how Sunday hours do in November without competing events in downtown Baltimore.
The great thing about going to these shows are the people you meet. There are some dealers that it is great to talk with. They are wonderful, hard working people who make this a great hobby. These are also the dealers that I continue to buy from because not only do they deserve my business, but they also sell at a fair price, which all that we collectors can ask for.
Every show always has an underlying theme, a type of coin that seems to be more prevalent with the dealers and looked after by the buyers. This time it was interesting because nearly every dealer, regardless of what they were selling, had rolls or singles of the 2009 Lincoln Bicentennial cents. One dealer whose inventory contained a lot of silver coins as well as gold and silver bullion also had rolls and singles of the cents for sale. There were others with the D.C. & U.S. Territories quarters and Presidential Dollars, the 2009 cents were a dominant theme.

While talking with that bullion dealer I found very nice examples of the 2009 silver Maple Leaf and Panda. While the Maple Leaf was very full of luster and is a solid and consistent design, I continue to be amazed at the artistry and craftsmanship of Chinese Panda. Since they hired a new artist in 2001, the design of the Panda coins have been phenomenal. The artistry and the quality of the strike makes the Panda something really special to own.
As I looked over the shoulder of the buyers searching the cases, I noticed that 20th century United States silver coins were a popular choice. From early Washington quarters to Walking Liberty half dollars, I noticed quite a few people interested in silver. And not just silver coins, quality early issues of these popular series. Even some later series were receiving attention, like the Roosevelt Dime and Franklin Half Dollar. I think this is the first time since I have been attending this show that I observed the dominant coin was not the Morgan Dollar.
Even though the Sunday session was sparsely attended, I still had the opportunity to meet and talk with a lot of good people. I even found a Father’s Day present for my father that I know he will like. I also know he reads this blog so this purchase will remain a secret until he receives it next week!
In keeping with my tradition, I had to find that one “oh, neat” item. This time, it was given to me shortly after my arrival on Friday. Following the setup of my exhibit, I spoke with Patti Finner in the Kids Korner. While speaking with her, she gave me a card with a type 2 blank cent planchet and an uncirculated 2008-D Lincoln Cent. A type 2 planchet is one whose rims were upset, the last step before striking. The planchet and the cent are in US Mint-type blister packaging and attached to a card explaining the “Before and After” of the process. The card was produced by the US Mint in conjunction with the h.i.p. program (History In your Pocket) for teaching children about coins and collecting.
I will be talking more about my conversation with Patti Finner in another post, but I would like to publicly thank her for this neat card and our very educational conversation.
If you made it this far, I am sure you can guess that my exhibit did not win at the show or I would have mentioned it at the beginning. The exhibit that one was a person who collected half-cents that were clipped during the minting process in each of the positions of the clock. He presented 12 coins in the layout of a clock that showed each coin and their clip. It was a very interesting and fun exhibit. It was a very fun and educational experience. I learned a little about exhibiting and will be making adjustments in order to do better next time—and there will be a next time. At least I received an uncirculated 2009 Silver Eagle for participating.
I know that sometimes it seems that buying coins online either through auctions or dealers appears easy, but you should really try to visit a coin show. You should meet the people in the hobby. You should see the coins. There is nothing more fascinating than looking at a case full of shiny silver dollars or something you are not collecting. By being on the bourse floor, you can meet dealers and other collectors. You can ask questions. You can get a better appreciation for this hobby beyond just accumulating. It is a hobby of people bound by the this passion for numismatics and that makes for a fun day at a coin show.
My Day In Baltimore
There are few shows like the thrice yearly Whitman Baltimore Expo. There are other large shows that are very well attended and Whitman is trying to expand their show portfolio to places like Philadelphia, but Baltimore supports this show three times per year. It is an amazing sight that has to be experienced to really appreciate.
I left home a bit late this morning after doing some work. With my backpack and cane, I drove to Baltimore. The drive to Baltimore was uneventful except, meaning the traffic on the Capital Beltway was bad. As I turned off the highway onto I-395 toward downtown Baltimore I had a sinking feeling. At the first traffic light I looked in my bag and realized I left the backing to exhibits at home. After taking the time to cut the backing to size, the feeling of instant panic was almost consuming.
Rather than go to the Baltimore Convention Center, I veered to downtown to find a place to stop and think. I looked at the iPhone and started to look up locations of craft stores. After finding a store not too far away and calling to confirm they had sheets of felt, I brought up a map with directions and drove to the store.
After purchasing four large pieces of felt, I rushed to the Sheraton Inner Harbor, where I usually overpay for parking, and hobbled to the Convention Center. After claiming my Exhibitor badge, I entered the large exhibit hall and found the exhibit area next to the Kids Corner. I was the last to set up, but I made it to my cases.
My exhibit is titled “The Bicentennial In Numismatics.” It is about one-third of my collection of numismatic-related bicentennial memorabilia put on display for all to see. Aside being a great milestone for this country, the bicentennial coinage marked the first time those of us at the tail end of the Baby Boom era experienced a change in design in our coinage. Numismatically, it is a fun topic. There were so many medals and tokens produced, it was difficult to reduce the number of items to fit in four cases.
As I setup my cases I realized that I left a few medals and a two dollar bill at home. I had one two dollar bill that was stamped in Philadelphia on the first day of issue, but I wanted a second one to show the reverse that was an engraving of John Trumbull’s painting “The Declaration of Independence.” Oh well… next time I will be more organized.
After I completed my setup, I looked at the other cases in the exhibit area. There were some differences between their cases and mine. Each had a different theme, but had a strict order to them. I felt that mine was not so much an exhibit but a celebration. In fact, I had a few people view the exhibit just after I set it up and commented as to how they remembered the coins, medals, and the celebration. Even if I do not win, I know that at least one person enjoyed the exhibit!
If there is one thing I do not like about my iPhone is the quality of the built in camera. Even with the glare of the overhead lights, I think I was able to capture images of the cases to give my readers an idea of my exhibit. The following is a slideshow of the cases as stored in a Photobucket album:
I will have more to say about the show in another post. But I wanted to mention that amongst the people I met, I had a nice conversation with American Numismatic Association Vice President Patti Finner. I met Patti at the Kids Corner where she was ready to talk about anything numismatics. I invited her to speak at my coin club the next time the Whitman show will be in Baltimore. She was very gracious, full of energy, and looking to help as best she could in making her talk a success for our club. I really appreciate her taking the time to talk with me.
Exhibits competition results will be announced at 11:00 AM on Sunday morning. Stay tuned!
On My Way to Baltimore
Sorry for being silent for the past week. There has been a lot going on. But today, after completing some tasks for work, I will be leaving to go to the Whitman Baltimore Coin and Currency Show. For me, this show is significant because I will be exhibiting for the first time.
Also today is the First Inaugural Maryland State Numismatic Association Distinguished Lecture Series lecture featuring Q. David Bowers. Bowers, who needs little introduction, just completed a book on colonial coinage. His lecture will be on colonial coinage—a topic I admittedly know little about. It should be interesting!
While in Baltimore, I will be tweeting updates on Twitter. Just follow Coinsblog on Twitter or keep refreshing this page and follow my last five tweets on the left side. If the situation presents itself, I will upload pictures to the same Photobucket accout I used for the ANA show last year. If I upload pictures, I will tweet that information.
I will write more over the weekend.
ANA Goes Oops
I received a note from the American Numismatic Association saying that the advertisement for the candidacy of Tom Palmer was omitted from the last issue of The Numismatist. Tom’s information is included in the mailing I recently received and at the ANA’s online Election Center. I hope Tom gets his money back!
Remember, ballots must be returned by June 26. ANA members are encouraged to participate in the election.

