Weekly World Numismatic News for November 10, 2019
Hoard of coins found in Northern Ireland (Image of courtesy of Birmingham Live)
In Northern Ireland, two men looking for a friend’s lost wedding ring found a small hoard of 84 coins dating back to the 16th century. The oldest coin was dated 1512, which was during the reign of Henry VIII.
According to the story, the men who do this as a hobby, look at old maps and accounts of history to find areas that may be the sites of ancient villages or battles. Although I was surprised to read this, it makes sense, and it brings up an interesting point.
Finding artifacts buried in the ground, including coins, are a window into history. Researching where to search and understanding the history of a coin is like what archeologists do to unearth history.
I wonder if there is a way to welcome metal detectorists into the numismatic family?
And now the news…
November 4, 2019
→ Read more at finance101.com
November 4, 2019 → Read more at telegraph.co.uk
November 4, 2019 → Read more at theguardian.com
November 5, 2019 → Read more at thenewsguard.com
November 5, 2019 → Read more at barrons.com
November 7, 2019 → Read more at birminghammail.co.uk
Proposed Congressional Gold Medals
Last week, I caught up with the commemorative legislation that has been submitted for consideration. This week, with congress on their spring break, I want to run down the Gold Medals that congress proposes to award.
The Congressional Gold Medal of Honor is the highest and most distinguished civilian award in the United States. Since first awarding the Gold Medal of Honor to General George Washington in 1776, there have been over 250 recipients, both individuals and groups. There have been two two-time winners: Major General Winfield Scott and John Horn, Jr.; and three-time winner Major General Zachary Taylor.
In order to award the Congressional Gold Medal, a member has to introduce a bill to gain congress’s consent. The introduction to the bill, what I call the “where as” section, describes why the person or group is deserving of the honor. Included in the bill is an authorization to the US Mint to strike bronze duplicates of the medal. Similarly, the design of the medal must go through the same design approval process as coins, involving the Citizens Coinage Advisory Committee and the U.S. Commission of Fine Arts.
Before one of these bills to be considered, the House Committee on Financial Services requires that Gold Medal legislation be co-sponsored by 75-percent of the members, the same as for commemorative coins. Currently none of the legislation that has been introduces has reached that threshold. As with commemorative legislation, there are no similar rules in the Senate.
Unlike bills for commemorative coins, proceeds from the sale of the duplicate bronze medals are paid into the US Mint Public Enterprise Fund where all seignorage from the US Mint is deposited. These bills also allow the Mint to withdraw funds to support the design and creation of the gold medal and bronze duplicates.
Here is a list of the legislation introduced to award the Congressional Gold Medal of Honor in the 111th congress:
H.R. 289: To authorize the President to posthumously award a gold medal on behalf of the Congress to the seven members of the crew of the space shuttle Columbia in recognition of their outstanding and enduring contributions to the Nation. Introduced by Rep. Sheila Jackson-Lee (D-TX) on January 8, 2009, with no current co-sponsors.
H.R. 304: To award a congressional gold medal to Joseph Barnett Kirsner, M.D., Ph.D., in recognition of his many outstanding contributions to the Nation. Introduced by Rep. Mark Steven Kirk (R-IL) on January 8, 2009, with one co-sponsor.
H.R. 347: To grant the congressional gold medal, collectively, to the 100th Infantry Battalion and the 442nd Regimental Combat Team, United States Army, in recognition of their dedicated service during World War II. Introduced by Rep. Adam B. Schiff (D-CA) on January 8, 2009, currently with 225 co-sponsors.
H.R. 406: To award a Congressional Gold Medal in recognition of Alice Paul’s role in the women’s suffrage movement and in advancing equal rights for women. Introduced by Rep. Joe Baca (D-CA) on January 9, 2009, currently with 107 co-sponsors.
H.R. 1235: To award a Congressional Gold Medal to Ray Charles in recognition of his many contributions to the Nation. Introduced by Rep. Charles B. Rangel (D-NY) on February 26, 2009. This bill currently has no co-sponsors.
H.R. 1243: To provide for the award of a gold medal on behalf of Congress to Arnold Palmer in recognition of his service to the Nation in promoting excellence and good sportsmanship in golf. Introduced by Rep. Joe Baca (R-CA) on March 2, 2009. With 302 co-sponsors, this is short of the 324 to be placed on the committee’s calendar.
H.R. 1244: To provide for the award of a gold medal on behalf of the Congress to Tiger Woods, in recognition of his service to the Nation in promoting excellence and good sportsmanship, and in breaking barriers with grace and dignity by showing that golf is a sport for all people. Apparently, Rep. Joe Baca (R-CA) is a golf fan because he introduced this bill on March 2, 2009, right after he introduced H.R. 1243 (see above). There are currently no co-sponsors for this bill.
H.R. 1278: To posthumously award a Congressional gold medal to Shirley Chisholm. Introduced by Rep. Charles B. Rangel (D-NY) on March 3, 2009. Rangel represents New York’s 15th District that includes all of upper Manhattan and is very identified with the Harlem community. This bill has no co-sponsors.
H.R. 1484: To award a Congressional Gold Medal to Rabbi Arthur Schneier in recognition of his pioneering role in promoting religious freedom and human rights throughout the world, for close to half a century. Introduced by Rep. Carolyn B. Maloney (D-NY) on March 12, 2009. Maloney represents New York’s 14th District where Rabbi Schneier is the spiritual leader of the Park East Synagogue.
S. 614: A bill to award a Congressional Gold Medal to the Women Airforce Service Pilots (“WASP”). Introduced by Sen. Kay Bailey Hutchison (R-TX) on March 17, 2009. This bill currently has 35 co-sponsors.
S. 768: A bill to grant the Congressional Gold Medal to the soldiers from the United States who were prisoners of war at Bataan during World War II. Introduced by Sen. Tom Udall (D-NM) on April 1, 2009, with 7 co-sponsors.
Just like commemorative coins bills, all bills introduced in the House of Representatives have been referred to the House Committee on Financial Services. Those introduced in the Senate are referred to the Committee on Banking, Housing, and Urban Affairs.
Do You Want One In Your Easter Basket?
Even in a down market, there is always someone ready to capitalize on those who still have the money to afford extravagance. In Great Britain, the high-end retailer Selvridges is selling Melt’s Recession Proof Egg. Melt, the Selfidges house brand, is offering a hand-made to order chocolate egg made with a one-ounce gold bullion Britannia coin and decorated with 18-karat gold leaf.
Gold is currently $880.80 per ounce (£600.31 at the current exchange rate).
If you have a spare £1,000 ($1,467.25) and happen to be in the area of Selfridges’ Oxford Street store in London, you might want to pick up a unique easter gift.
Image courtesy of Selfridges.
A Calmer Gentler ANA Elections
When the American Numismatic Association held its last election, the mood of its members could be charitably considered contentious. That year, I attended the candidate forum at the National Money Show in Charlotte. The attendees at that meeting were angry. While some where complimentary to the Board, most were angry with the state of the association.
What a difference an election can make!
The current Board of Governors fired the previous executive director and hired Larry Shepherd. Both Shepherd and the Board have focused on rebuilding the core operations of the ANA and focusing more on the Association’s core mission. Amongst their successes is the recent approval a balanced budget [PDF] for the first time in many years.
I am not saying that the Board has been perfect; they have had a few missteps. But there seems to be more of a comfort level with the current direction than what we experienced in 2007. One evidence of this was the reported low turnout at this year’s candidate forum on Portland, Oregon.
Just because this Board of Governors was successful does not mean that this election is not important!
On Tuesday, the ANA announced [PDF] that 17 members have been nominated for the 2009-2011 Board of Governors. In fact, this year, there are two candidates running for president. Current Vice President Patricia Jagger-Finner and Governor Clifford Mishler are two very strong candidates for president. Tom Hallenbeck is running unopposed for Vice President. There are also 14 candidates for the seven governor seats.
I urge all ANA members to learn more about the ANA elections process and about the candidates. You should also visit CoinTelevision.com to see the videos from the Candidate Forum held on March 14, 2009. Additionally, watch for the candidate statements that will be published in The Numismatist in the coming months.
No ANA Dues Increase for Pre-Paid Membership
When I wrote about the new ANA Membership Fees, I commented that there was no information provided for those of us who prepaid through this year and beyond. So I asked.
According the the ANA, if you prepaid your dues, the increases will take effect the next time you renew your membership. Since I paid my membership fees through 2012, I will continue to receive the paper copy of The Numismatist without a dues increase.
I know I can read The Numismatist online, but I like having the paper copy. It can be read anywhere without worrying about an Internet connection and accessibility to electricity.
Catching Up On The Legislative Front
With the economic crisis, failing of industries, the fighting of two wars, and partisan bickering, some members of congress has found time to author and submit bills to authorize the striking of commemorative coins. Many of these bills have merit, but the timing is in question.
For the 111th Congress, the House Committee on Financial Services set a rule that requires a coin bill to be co-sponsored by 75-percent of the members. Considering that there are two open seats, the committee is requiring that the bill have 324 cosponsors. Currently, no coin bill has that many sponsors. I am sure as the session continues, there will be some movement on a few of these bills. There are no similar rules in the Senate.
Here is a rundown of the commemoratives legislation that have been introduced in congress:
H.R. 255: To require the Secretary of the Treasury to mint coins in commemoration of the 50th anniversary of the establishment of the National Aeronautics and Space Administration. Introduced by Rep. Rep Sheila Jackson-Lee (D-TX) was introduced on January 7, 2009. If passed, the bill should raise more than $5 million that would benefit the NASA Family Assistance Fund, the Dr. Ronald E. McNair Educational (D.R.E.M.E.) Science Literacy Foundation, the Challenger Center for Space Science Education, and the Steven F. Udvar-Hazy Center of the National Air and Space Museum.
H.R. 621 and S. 451: To require the Secretary of the Treasury to mint coins in commemoration of the centennial of the establishment of the Girl Scouts of the United States of America. Introduced by Rep. Jack Kingston (R-GA) in the House on January 21, 2009 and Sen. Susan Collins (R-ME) in the Senate on February 23, 2009. If passed, the potential $3.5 million paid in surcharges will be given to the Girl Scouts of America.
H.R. 1177 and S. 455: To require the Secretary of the Treasury to mint coins in recognition of 5 United States Army 5-Star Generals, George Marshall, Douglas MacArthur, Dwight Eisenhower, Henry “Hap” Arnold, and Omar Bradley, alumni of the United States Army Command and General Staff College, Fort Leavenworth, Kansas, to coincide with the celebration of the 132nd Anniversary of the founding of the United States Army Command and General Staff College.. Introduced by Rep. Dennis Moore (D-KS) in the House on February 25, 2009 and Sen. Pat Roberts (R-KS) in the Senate on February 23, 2009. If all of the proposed coins sold out, the $12.25 million in surcharges will be paid to the Command and General Staff College Foundation.
H.R. 1195 and S. 483: To require the Secretary of the Treasury to mint coins in commemoration of Mark Twain. Introduced by Rep. John Larson (D-CT) in the house and by Sen. Chris Dodd (D-CT) in the Senate on February 25, 2009. The potential $8.5 million in surcharges will be divided up between the Mark Twain House & Museum in Hartford, Connecticut; he Mark Twain Project at the Bancroft Library of the University of California, Berkeley, California; the Center for Mark Twain Studies at Elmira College, New York; and the Mark Twain Boyhood Home and Museum in Hannibal, Missouri.
H.R. 1209: To require the Secretary of the Treasury to mint coins in recognition and celebration of the establishment of the Medal of Honor in 1861, America’s highest award for valor in action against an enemy force which can be bestowed upon an individual serving in the Armed Services of the United States, to honor the American military men and women who have been recipients of the Medal of Honor, and to promote awareness of what the Medal of Honor represents and how ordinary Americans, through courage, sacrifice, selfless service and patriotism, can challenge fate and change the course of history or the short title of Medal of Honor Commemorative Coin Act of 2009. Introduces by Rep. Chris Carney (D-PA) on February 26, 2006 and currently with 203 sponsors. If passed, the potential $8.5 million in surcharges would be paid to the Congressional Medal of Honor Foundation.
S. 653: A bill to require the Secretary of the Treasury to mint coins in commemoration of the bicentennial of the writing of the Star-Spangled Banner. Introduces by Sen. Ben Cardin (D-MD) and Sen. Barbara Mikulski (D-MD) on March 19, 2009. The potential $8.5 million in surcharges will be paid to the Maryland War of 1812 Bicentennial Commission.
All bills introduced in the House of Representatives have been referred to the House Committee on Financial Services. Those introduced in the Senate are referred to the Committee on Banking, Housing, and Urban Affairs.
Support the Coin Collectors Blog
Buy me a coffee
Thank you for your support!
Let Me Know What You Think
Are you going to the World's Fair of Money
Total Voters: 17
Loading ...