2022 Change Has Arrived
Since the start of the COVID-19 pandemic, I stopped carrying and spending cash as a precaution. When research caught up and said that there was no significant risk of contact infection, I did not refill my wallet with cash. Then there was an announced coin shortage due to coins not circulating.
Rather than add to the problem, I dumped my change jar and continued to use credit cards. Like many people, I became used to paying with apps and credit cards. The few times I use cash is at the lottery vending machine. When it is time to buy tickets, I will pay for groceries with a debit card and ask for cash back to feed into the lottery vending machine.
I recently decided to carry some cash and use it for smaller purchases. I make a small purchase using cash. When the cashier handed over the change, I dropped it in my pocket and left the establishment. Sometime later, I will take a look.
In my first cash transaction of 2022, I received two 2022 dimes.
Before the pandemic, I would note that I would find coins from the current year later and later. Imagine my surprise that the first time someone hands over change, I find two dimes from the current year.
The U.S. Mint is manufacturing coins at a record rate, but circulation issues still cause shortages. Even though the issues are not as dire as they were in early 2021, it is amazing to find 2022 coins this early in the year.
Here is a tip-of-the-cap to the U.S. Mint for their manufacturing prowess and the Federal Reserve for making sure these coins find their way into circulation.
World’s Fair of Money “Suspended,” Should ANA leadership be, too?
The ANA announced today that the 2020 World’s Fair of Money scheduled for August in Pittsburgh has been “Suspended.” The announcement recognized that the “Current State of Pennsylvania guidelines restrict indoor gatherings to a maximum of 250 people at any one time.”
Of course, I noted that almost three weeks ago, but who listens to me.
By suspension, this means that the ANA will scurry around and try to do something. Like the “something” that is planned for the virtual Summar Seminar, it is so much less than what it could be.
For years, I have been pushing for the broadcasting of the events from the show. I have been saying that the use of video can be a great recruiting tool. A few have even suggested doing a virtual bourse. Although I have not advocated one, I think I have an idea as to how to implement this.
All that is needed is the hardware and services to do this.
All that the ANA needed is for the current president to continue the efforts of the past. But that would require a president with an open mind who thought better of the ANA and its members.
The actions taken by the ANA president and Board of Governors show that they are not leaders. Leaders are proactive in the organization’s best interest. If you are reactive, then you are not a leader. Or as it was once said, you are leading from behind.
I wish the ANA was more proactive with the modern needs of a collecting public. As it is said, elections have their consequences. Rather than having the leadership the ANA needs (with all due respect to Joseph de Maistre), the association has the leadership it deserves.
Weekly World Numismatic News for June 14, 2020
We sold this 1984 Mexico Libertad at auction for a nice premium above spot!
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…
June 5, 2020
→ Read more at harwichandmanningtreestandard.co.uk
June 7, 2020 → Read more at lcsun-news.com
June 7, 2020 → Read more at theconversation.com
June 8, 2020 → Read more at georgiatoday.ge
Weekly World Numismatic News for June 7, 2020
It is always fun when there is something numismatic to report. This week, the U.S. Mint released the Basketball Hall of Fame Commemorative Coins. The curved or domed coins of the program feature a basketball going into the basket on the reverse or convex side. The reverse features three players reaching for a rebound.
The coins are available as a $5 gold, silver dollar, and clad half-dollar coins in proof and uncirculated finishes. The U.S. Mint is also offering an uncirculated half-dollar in a special folder for kids that will not be available until September.
Introductory pricing for the silver and clad coins expire on July 6. After July 6, the price will go up by $5. The market value of the gold determines the gold coin’s price.
Previously, there was a discussion of a colorized coin. According to the U.S. Mint, it will be available in the future.
The Naismith Memorial Basketball Hall of Fame is unique amongst sports halls of fame in that enshrinement is not limited to professionals or college players. Inductees include college and professional basketball players, teams, coaches, and broadcasters. From my undergraduate alma mater, the University of Georgia, Theresa Edwards and Katrina McClain are honored alongside Dominique Wilkins.
From Senda Berenson Abbot, the “Mother of Women’s Basketball,” to Pat Summitt, the most successful coach of women’s college basketball, the Hoop Hall presents basketball beyond the NBA.
Although it has been over 20 years since I visited the Hoop Hall, I would recommend that you visit. Maybe you could consider a trip when the Hall reopens.
And now the news…
May 31, 2020 → Read more at thisweeknews.com
June 1, 2020 → Read more at northumberlandgazette.co.uk
June 1, 2020 → Read more at abc.net.au
June 1, 2020 → Read more at itsnicethat.com
June 2, 2020 → Read more at dailynews.com
June 3, 2020 → Read more at worldatlas.com
June 3, 2020 → Read more at robbreport.com
May 2020 Numismatic Legislation Review
Days keep blending together as we try to survive major crises in this country. With the justified outrage over the killing of George Floyd, reports are coming out that coronavirus deaths are beginning to rise. Since the protests are largely attended by young people, it will change the narrative that the virus is particularly deadly to those older and to those with pre-existing conditions. Then again, many people do not know they have a pre-existing condition until it is triggered by something else.
Frontline health care professionals and others are fighting the disease and, in some cases, injuries that occurred during the protests. To celebrate these essential workers Rep. Jack Bergman (R-MI) introduced a commemorative coin program in their honor. Although the bill was introduced, the text has yet to be published. All we know is the title as submitted. It might be nice to honor the frontline workers, the likelihood of this type of bill passing is not good given the current political climate.
Unless the current circumstances change, it is unlikely any numismatic-related legislation will be acted on before the end-of-session cleanup votes in December.
H.R. 6923: To require the Secretary of the Treasury to mint coins in commemoration of the health care professionals, first responders, scientists, researchers, all essential workers, and individuals who provided care and services during the coronavirus pandemic.
SCAM ALERT: Beware of Cheap Silver Eagles
If a deal is too good to be true, it probably is.
Device that could metallic analysis of a coin below the surface
The company is named LIACOO. Please note the two “ohs” because there is a legitimate company spelled with a single “oh.” LIACOO appears to be selling knock-off products made in China and representing them as genuine for less than market value.
A reader purchased five of these coins. After they arrived, this person said that something looked wrong and asked for help. The images that were sent makes the coins appear to be cast copies of American Silver Eagle coins. COUNTERFEITS!
First, you will NEVER find a legitimate seller sell American Silver Eagle for less than the wholesale price. You may be able to find someone who will round down your cost to the nearest dollar as a loss leader, but the price will never be more than 1-2% less than the spot price. The current spot price of silver is $17.84. If you find someone selling legitimate American Silver Eagle for $17.00-17.50, they will probably sell the coins to convince you to do further business with them. Otherwise, you may want to check the company further.
In this case, an examination of their website has no information about who they are.
- There was no physical address.
- There was no telephone number listed.
- The site did not have a privacy policy required to do business with most of the world.
- The site did not have any policies for shipping, returns, or customer service.
- The pictures of legitimate monster boxes and roll containers were “borrowed” from another site.
There are two places where they provide contact information. On their FAQ page is an email address that uses a different domain. Contact information for the company’s domain name appears on one page that listed an email address, and that customer service was available between 9a and 5p HKT. HKT is the time zone abbreviation for Hong Kong Time.
If that was not enough to convince you that this deal is too good to be true, further research went into their Internet presence.
Their domain name registration shows that the name was purchased from a company in Guangdong, China, that appears to service small businesses. This service provider is reselling the services offered by Baidu. Baidu is a Chinese state-controlled search engine, sometimes called the Google of China. The Chinese government heavily regulates Baidu.
The website is hosted on servers owned by Alibaba. Alibaba is a China-based e-commerce conglomerate whose ties with the Chinese government is uncertain. Although founder Jack Ma has claimed to have no government ties, it is essential to remember that the Chinese government regulates everything and censor Internet traffic inside its borders.
Everything regarding their Internet presence confirms that they are a China-based company. Remember, many of the worst counterfeit coins have origins in China.
I provided the details of the clues I was looking for to help you understand how to spot a scammer. I went further by looking into their Internet presence since I have the background to understand the under-the-hood workings of the Internet. However, my examination of the website was enough to convince me not to buy the coins.
If anything about the offer makes you uneasy, then do not buy the coins. If you want me to look at the site, leave a message in the comment section below, or send me a note. “Let’s be careful out there.”
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