Weekly World Numismatic News for March 17, 2019
Counterfeit American Gold Eagle found in Iowa
(Image courtesy of the Des Moines Register)
A lesson learned is that people do not pay attention or care, which is why the iodine pen is popular. This is why the story of the week is about a person in suburban Des Moine, Iowa is wanted for passing a counterfeit American Gold Eagle coin.
According to the story, the suspect, who has been identified, used the alleged gold coin to purchase $25 worth of merchandise from a gas station. The next day, the clerk who took the coin found it was fake after taking it to a local coin shop.
Although the story does not say why the employee accepted the coin as payment, I speculate there was a greed motive involved. The suspect probably convinced the clerk it was real and that worth more than the $50 face value but was low on cash and needed the merchandise. The clerk thought that the coin is worth more took it hoping to make a profit.
If the coin was worth more than face value, then why did the clerk not ask why the suspect did not take it to a coin shop himself?
Even if you do not know the price of gold, why would someone try to use a valuable coin in a gas station?
I have commented in the past about the perpetual hunt for “rare” 50 pence and £2 circulating commemorative coins in the United Kingdom. At least by publicizing the coins, Britons learn a little about the coins issued by the Royal Mint. In fact, if you are watching my Twitter feed (@coinsblog), I post stories about other countries that produce stories about coins put out by their country’s mints.
Unfortunately, the best we get in the United States outside of the numismatic media is an infrequent blurb in a local news source. The Washington Post’s new motto is “Democracy Dies in the Darkness.” It also dies with ignorance especially when movie money is mistaken for real.
And now the news…
October 14, 2016Worried about buying a fake when you shop online? Here's how you can keep counterfeits out of your shopping cart. David P. 
→ Read more at desmoinesregister.com
March 10, 2019Richard Masters’ work for the U.S. Mint is a marriage of his interest in art and his boyhood hobby of coin collecting. A former professor of art at the University of Wisconsin Oshkosh, Masters has designed 21 coins and five medals, including the 2009 Bicentennial Lincoln Cent (Log Cabin), the 2011 Sacajawea gold dollar reverse and the 2017 America the Beautiful Effigy Mounds (Iowa) quarter reverse. → Read more at legion.org
March 11, 2019Finance ministry had issued a notification on March 6 announcing the launch of 5 new coins in the country namely new One Rupee, Two Rupees, Five Rupees, Ten Rupees and Twenty Rupees. The new series of coins are visually impaired friendly and have enhanced design. → Read more at zeebiz.com
March 13, 2019Urbandale police are looking for a man who used a counterfeit $50 coin to make a purchase at an Casey’s General Store in February. → Read more at desmoinesregister.com
March 13, 2019Warwickshire County Council wants to raise £62,000 towards buying a hoard of Roman coins. → Read more at bbc.com
March 13, 2019More A lucky penny which deflected an enemy bullet during the First World War One – saving a soldier’s life – is set to be sold at auction. Private John Trickett would have been shot in the heart if the bullet – which still left him deaf – had not struck the coin in the breast pocket of his uniform. → Read more at uk.news.yahoo.com
US Mint Releases Images of Presidential $1 Coin
On Monday, the US Mint release the artists sketches of the first four coins in the Presidential $1 Coin program that will begin in 2007. These new coins will be minted using the same magnesium-brass composition, size, tactile features, and electromagnetic signatures of the Sacagawea Dollar. The Sacagawea Dollar will continue to be minted, as required by law.
As prescribed by the Presidential $1 Coin Act (Public Law 109-145 [GPO: text or pdf]), the coin will feature the likeness of each US president on the obverse of the coin and an image of the Statue of Liberty on the reverse. These coins will also feature edge lettering, not seen on circulating coinage in almost a century.
Edge Lettering
The edge of the coin will feature the year of issue, mint mark, and the national mottoes E Pluribus Unum and In God We Trust. It is a first time the US Mint will have the date minted into the edge of the coin.
Common Reverse
The common reverse will feature the Statue of Liberty with “United States of America” around the outer ring of the coin. Also on the reverse is the denomination written as “$1.” I believe it is the first circulating coin that uses the dollar symbol. The reverse was designed and engraved by US Mint artist and engraver Don Everhart.
Obverse Designs
George Washington $1 coin is scheduled to be released on February 15, 2007. The obverse of this coin was designed and sculpted by US Mint engraver Joseph Menna.
John Adams $1 coin is scheduled to be released in May, 2007. It was designed by Joel Iskowitz, a member of the Artistic Infusion Program, and sculpted by Charles Vickers of the US Mint.
Thomas Jefferson $1 coin is scheduled to be released in August, 2007. The obverse of this coin was designed and sculpted by US Mint engraver Joseph Menna.
James Madison $1 coin is scheduled to be released in November, 2007. It was designed by Joel Iskowitz, a member of the Artistic Infusion Program, and sculpted by Don Everhart of the US Mint.
I believe the Presidential $1 Coin program is a wonderful idea. However, the potential for failure will continue as long as there is a circulating one dollar Federal Reserve Note.
Images from the United States Mint
Learning About Silver Britannias
While participating in the Collectors’ Society’s chat boards, we had a discussion about the silver Britannia bullion coin series. Since I had done some research on these coins, I shared what I had and had read the responses from the other members. They provided a lot of good information. Unfortunately, since the Collectors’ Society’s chat boards are very active, this great information would end up being buried in the board’s archives. Rather than seeing that information get lost, I created a page describing these beautiful coins.
In creating this page, I added additional information on the mintage numbers and looking up the symbolism of how Britannia is depicted on the coins. The mintage numbers are not entirely correct. To find out the accurate mintage figures, I wrote to the Royal Mint asking if they can provide the information. These will be added to the page when (or if) the Royal Mint sends this information to me.
The link to this page will be available in the sidebar on the left side of this page. Let me know what you think about the Silver Britannia page.
Noe Sentenced to 18 Years
This past Monday, Tom Noe was sentenced to 18 years in an Ohio state prison for his conviction on 29 various counts of theft, corrupt activity, money laundering, forging records, and tampering with documents in his management of the Ohio Bureau of Worker’s Compensation (BWC) $50 rare coin fund. Noe was fined $213,000 and order to pay the estimated $3 million cost of his prosecution. He is also required to reimburse the money he stole from the BWC, which is estimated at $13.7 million.
Noe will begin to serve his sentence after serving a 27-month federal sentence for felony campaign finance violations. Noe was free on $500,000 bond during the state trial.
Mint Readies for Presidential $1 Coin
A legacy of the 109th congress that will be felt for some time is the Presidential $1 Coin Act (Public Law 109-145 [GPO: text or pdf]). This law calls for the minting of $1 circulating coins commemorating each of the Presidents of the United States in order that they served. Four coins will be issued each year starting in 2007 with issues honoring George Washington, John Adams, Thomas Jefferson, and James Madison. Along with the Presidential $1 Coins, the US Mint will issue companion $10 gold First Spouse commemoratives.
This week, the Mint sent the the first Presidential $1 Coin e-Newsletter those who subscribed. In this inaugural issue, the Mint announced that the first four designs will be revealed on November 20, 2006. The official release of the George Washington $1 coin will be issued on February 15, 2007, in time for Presidents’ Day. Future coins will be released quarterly. As with the 50 State Quarters® Program, the Mint will be producing educational material along with the release of the $1 coins and bronze medals of the First Spouse gold coins.
In 2007, the proof set will expand to 14 coins including the Presidential $1 Coin and the Sacagawea Dollar, which will continue to be minted. The mint set will also expand to 28 coins. I am sure that the additional coins will increase the price of the sets. The Mint have not announced these prices.
Noe Guilty 29 Times
Tom Noe was found guilty of engaging in a pattern of corruption in his mis-management of the Ohio Bureau of Worker’s Compensation (BWC) $50 million rare coin collection. Noe was found guilty of 29 of 40 charges including theft, corrupt activity, money laundering, forging records, and tampering with documents. The corruption conviction carries a minimum sentence of 10 years. Noe could receive a maximum sentence of 72 years on all convicted counts. Sentencing will be on November 20.
In September, Noe pleaded guilty to three counts of campaign finance violations and was sentenced to 27 months in prison. Noe was freed on $500,000 bail during this trial.
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