Weekly World Numismatic News for July 17, 2022

As the times change, traditional hobbies have to find new ways to reach a new audience. The Royal Canadian Numismatic Association (RCNA) tried something different and published a new children’s book.

The RCNA teamed up with best-selling Canadian author Teresa Schapansky and award-winning artist Elly Mossman to produce a children’s book, One Little Coin. The book is about a child’s adventures in joining a coin club and what happens.

Here’s the publisher’s blurb:

Dear Journal, I signed up for the coin club, because to be honest, I really like money. Wasn’t that what a coin club was about? Money? That, and how to get it, how much to keep and how much to spend? I glanced around the room, and easily saw that the class was made up of quite an assortment of kids – polar opposites, in my opinion. In the end, who could have guessed that seven totally different kinds of people would form such an unlikely bond in a coin club? Maybe one day, I’ll find one little coin that will change my life, forever. Maybe I’ll find it with Jacques’s metal detector, or maybe it’ll be stuck in some couch cushion. The possibilities are endless.

The book includes “Miss Cassidy’s Guidebook,” a guide to coin collecting for young readers.

One Little Coin is written in English and in French as Une Petite Monnaie.

Book publishing is always a risk. A publisher once told me that less than 10-percent of the books they publish make a significant profit. The RCNA is taking a risk by publishing a children’s book in a society where parents opt for electronic entertainment.

I hope it works. If it does, I hope it inspires others to find new ways to reach collectors.

And now the news…

 July 9, 2022
There are some $200 bills that were put into circulation in October 2016 by the Central Bank of the Argentine Republic (BCRA) that have a particular production error for which numismatic specialists and collectors in the field paid attention to them.  → Read more at california18.com

 July 12, 2022
<em>One Little Coin</em>, the latest book by Duncan, B.C.’s Teresa Schapansky, topped the Amazon Hot New Releases list for coins and medals this June. The Royal Canadian Numismatic Association (RCNA) published the digital version of the book in both English and French on June 22.  → Read more at canadiancoinnews.com

 July 14, 2022
The new P1,000 polymer banknotes, another legacy left to President Bongbong Marcos by his predecessor, came as a surprise parachute drop on a market that appears to be not adequately prepared.  → Read more at philstar.com

 July 15, 2022
It’s possible you might be able to find coins worth in the thousands around your home or anywhere you store change. The value of your coins could depend on a few factors including mintage, grade and condition, as well as errors.   → Read more at the-sun.com
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Early Registration for the WFM Ends Today!

Are you going to the World’s Fair of Money this year?

If you are, early registration ends TODAY, July 15, 2022.

If you register early, the ANA will mail your registration information so that you do not have to wait in long queues to register at the show. You can also purchase the convention medal, convention bar for those who collect the bars from each WFM they attend, and holders for those starting a new collection.

With life turning back towards normal, this show should have more opportunities to learn, see, and buy than last year. Although I did not attend last year’s WFM, the fact that the number of bourse tables available has returned to previous levels suggests that it has a making of an exciting experience.

There continues to be a problem with COVID, but not to the levels of the past. Some will be wearing masks, including me. Please be respectful of the mask wearers, and we can show that the numismatic community cares about each other and is supportive and friendly to everyone.
 

Are you going to the World's Fair of Money

Yes, I wouldn't miss it. (47%, 8 Votes)
No, I cannot get away (35%, 6 Votes)
No, it's not worth my time (12%, 2 Votes)
Maybe... I will decide later (6%, 1 Votes)

Total Voters: 17

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DO NOT BUY COINS FROM A FACEBOOK AD!

DO NOT BUY COINS FROM A FACEBOOK AD!
DO NOT BUY COINS FROM A FACEBOOK AD!

Fake Silver Eagles

Two counterfeit American Silver Eagles purchased from LIACOO, a company based in China who advertised on Facebook.

Have you ever wondered why advertisers repeat a telephone number or web address three times? Research has shown that repeating the takeaway information three times is enough to get potential buyers to remember. The message I want you to remember is that buying coins from a Facebook ad is not safe.

Nearly every email I receive starts with the writer seeing an ad on Facebook and bought the coins advertised. The coins are always advertised below melt value and up to 75-percent off the published market guides.

A few weeks ago, the Anti-Counterfeiting Educational Foundation (ACEFonline.org) said they are helping an “investor” who bought counterfeit coins based on an ad he saw on Facebook. The investor paid $499 for what he thought would be 50 American Silver Eagles and $499 for an American Gold Eagle.

He is another scammed collector who bought coins from a Facebook ad.

Some legitimate dealers use Facebook to promote their stores. There are Facebook groups dedicated to buying and selling amongst members. These groups are self-policed and have no significant problems. However, we cannot say this about many of Facebook’s advertised content.

How to Identify Legitimate Sellers from the Scammers

Facebook provides clues on how to identify advertisers’ potential legitimacy. First, all advertised content is marked ”Sponsored.” Look below the company’s name; instead of the date, the post is ’Sponsored.’ If it is just a timeline post that the writer stuffed with keywords to game the system and get you to notice the content, it is likely not legitimate.

Look for the check next to the company’s name for Facebook’s verification. A company that has submitted to Facebook’s process for verification is likely safe. For example, the advertisement below for Moden Coin Mart shows a verified company with sponsored content. Modern Coin Mart is a good company with fair prices and will sell a quality product and should not be dismissed because they advertise on Facebook.

The following is an advertisement from BullionMax. BullionMax has not submitted its company information to Facebook’s verification process and does not show the blue check. But they are a company selling bullion. However, BullionMax is a company in that grey area between having a reputation that could pass a verification process and selling products at a premium price using advertising bordering on deceptive.

For a sanity check, I will search for the dealers in the Professional Numismatic Guild (png.memberclicks.net/find-a-png-dealer) and the Accredited Precious Metals Dealers (apmddealers.org/apmd-dealers) databases of members. If the dealer is not in either of those directories, I will avoid purchasing from them based on an online advertisement. Modern Coin Mart has employees that are PNG Members, and BullionMax does not.

For the record, I am not affiliated with Modern Coin Mart except as a satisfied customer.

Then you find ads that use the images of shiny coins to get you to click on their site. Sites like this pretend to be search engines but lead you to scam sites, and they get a kickback from the scammers for every click they generate.

If you see these ads or any other, click on the three-dot menu at the top of the post and select “Report ad” from the pulldown menu. It will send a message to a human at Facebook to inform them that the ad is attempting to scam people.

DO NOT BUY COINS FROM A FACEBOOK AD!
DO NOT BUY COINS FROM A FACEBOOK AD!
DO NOT BUY COINS FROM A FACEBOOK AD!

Caveat emptor.

Weekly World Numismatic News for July 10, 2022

This past week, I had an email conversation with a reader and collector from the United Kingdom that started with a conversation about the Women on Quarters and Innovative Dollar programs. In one of the emails, I was asked why the dollar coin was not generating interest.

The simple answer is that the dollar coin does not circulate.

My correspondent asked why the United States strikes a circulating coin that does not circulate? My response, “because it is the law, ” did not satisfy my correspondent because the U.S. also prints a paper dollar. Why do both?

Good question. Why does the United States do both?

There are several reasons, but the main driver is politics. For many years, Ted Kennedy, the powerful senator from Massachusetts, protected the interest of Crane and Company, the manufacturer of U.S. currency paper. On the other side, politicians interested in manipulating people against the government convinced them taking the paper dollar away would weigh them down.

In response, my friend from across the pond said it did not make sense while pointing out that many countries successfully dropped paper for coinage.

The arguments become a religious war whenever the paper versus coin discussion surfaces. I had no answers as to why. Some day, we may resolve this debate, but it is not going to happen today.

And now the news…

 July 4, 2022
Secretary Janet Yellen reiterated the promise of ensuring an inclusive currency in an internal department Black History Month message. In contrast with the several speculations spreading over the internet, the Harriet Tubman $20 bill is on its way to rolling out in 2030.  → Read more at venturejolt.com

 July 7, 2022
The historic rocket that launched the first astronauts to the moon will blast off from the back of a new dollar coin in 2024.  → Read more at collectspace.com
Coin Collectors News
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Independence Day 2022

HAPPY Independence Day!The decision to go to war to confirm independence was not something the English colonies in the New World took likely. After many years of trying to convince King George III, and over the objection of Benjamin Franklin, Thomas Jefferson began to author what was effectively a declaration of war.

To convince Franklin and other skeptics to support the fight for independence, Jefferson presented the preamble of what would become the beginning of the Declaration of Independence to the Continental Congress. It passed on May 15, 1776.

As a result, the Continental Congress appointed a “Committee of Five” to draft a declaration. Committee members were John Adams of Massachusetts, Benjamin Franklin of Pennsylvania, Thomas Jefferson of Virginia, Robert R. Livingston of New York, and Roger Sherman of Connecticut. They completed the draft on June 28, 1776.

The Continental Congress debated the draft on July 1-2, 1776. New York and South Carolina were still holdouts, and the two Deleware representatives were deadlocked. This led to the historical ride of Caesar Rodney, who rode 80 miles to Philadelphia to vote in favor of independence.

After Thomas Jefferson made the final agreed upon corrections to the document, the Continental Congress approved the draft on July 4, 1776, with 12 votes. Only New York abstained since they did not have the authority of their government.

The final signatures were added on August 2, 1776. Since New York approved the resolution of independence on July 10, the New York delegation is included among the signatures.

Reverse of the Series 1976 $2 Federal Reserve Note features an engraved modified reproduction of the painting The Declaration of Independence by John Trumbull.

Although we celebrated the nation’s birth in 1776, the new country was not recognized until 1783, when the two nations signed the Treaty of Paris.

Weekly World Numismatic News for July 3, 2022

As I returned from two weeks off, I noticed that the Anti-Counterfeiting Educational Foundation (ACEF) warned about Chinese counterfeits using the example of a gentleman in Texas who was scammed by buying counterfeits.

According to the report, “Oliver” paid $1,000 for counterfeit coins. As part of the order, Oliver paid $499 for an American Gold Eagle that the U.S. Mint sold for $1,950. He paid $499 for 50 alleged American Silver Eagles that would have been worth $40 each and received fakes.

Some of the counterfeit coins were received by a Texas investor.

If Oliver had done a little due diligence, he would not have been scammed out of $1,000. Sure, he will work with his credit card company to recover his money, but that may be $1,000 that the credit card company has to absorb. The credit card company will try to recover the money from the scammer, but the process will cost money.

Remember, credit card companies do not absorb these losses. They will raise service charges and interest rates to compensate for the losses. Oliver might be made whole, but we will all pay for his lapse of judgment.

Before you purchase these alleged “good deals,” please remember my rules:

  1. NO LEGITIMATE DEALER IS SELLING BULLION COINS FOR BELOW THE SPOT PRICE!
  2. IF THE DEAL IS TOO GOOD TO BE TRUE, IT LIKELY IS NOT A GOOD DEAL!
  3. IF THE DEALER DOES NOT IDENTIFY THEMSELVES ON THEIR WEBSITE, THEY ARE LIKELY HIDING SOMETHING!
    Check the “About” or “Contact” page. If there is no address, then they are hiding. If the address is in China or the Middle East, they will sell you counterfeit merchandise. If there is an address, go to Google Maps and see what is really at the address.
  4. IF THERE ARE ANY QUESTIONS, THEN DO NOT PURCHASE THE COINS!
    There is no harm in asking for help. Talk to a dealer. If you do not know a dealer, reach out to an expert affiliated with the Accredited Precious Metals Dealer program (www.APMDdealers.org) or the Professional Numismatists Guild (www.PNGdealers.org). Or ask me! Using my background as a (now retired) information security specialist, I can tell you if I think a scammer created the website.

Please! Please! Please! Do not give these scammers your credit card information. You will be ripped off, and they will likely steal your credit card information, leading to other problems.

And now the news…

 June 29, 2022
WATERLOO REGION — Waterloo Region’s club for coin enthusiasts has been recognized for using the internet to keep members connected during the pandemic. The Waterloo Coin Society was named club of the year by the Royal Canadian Numismatic Association, the national organization for coin collectors.  → Read more at therecord.com

 June 30, 2022
A hoard of Roman gold coins hidden in the decades before the Roman invasion of Britain has been discovered.  → Read more at bbc.com

 July 1, 2022
"What looks and feels like a real paper money, but doesn't work?" Well, obviously, that is Russian paper money. Russian Central Bank officially introduced the updated 100 rouble bill today.  → Read more at afterdawn.com
Coin Collectors News
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Weekly World Numismatic News for June 26, 2022

Even though I spent the week relaxing, the news continues. Here are three significant stories from this past week.

New Mint Director

Ventris C. Gibson, 41st Director of the U.S. Mint

The Senate confirmed Ventris C. Gibson as the 41st Director of the United States Mint. Gibson is the first African American to hold the post. The president nominated Gibson on January 7, 2022, after appointing her as Deputy Director and Acting Director. Her confirmation was on June 22, 2022.

Compared to previous appointments, the Senate acted with lightning speed to fill the vacancy left by David J. Ryder. Ryder’s resignation. The position was vacant for 264 days.

New Treasurer

Chief Marilynn “Lynn” Malerba, 18th Chief of the Mohegan Tribe and the 45th Treasurer of the U.S.

The president appointed Chief Lynn Malerba to serve as Treasurer of the United States and lead the newly established Office of Tribal and Native Affairs. Chief Malerba is the first Native American to serve as the nation’s Treasurer.

Chief Marilynn “Lynn” Malerba became the 18th Chief of the Mohegan Tribe in 2010 and is the first woman to serve in this position in the Tribe’s modern history. Chief Malerba earned a Doctor of Nursing Practice and Masters in Public Administration degrees, and she has advocated for tribal health and management throughout her career.

Since the Federal Reserve Note includes the signatures of the Treasury Secretary and the Treasurer, it will be the first time in United States history that both signatures on the currency will be women.

New Numismatic Auction Record

2021 Nobel Peace Prize Medal sold for $103.5 million with proceeds going to charity (Image courtesy of Heritage Auctions)

In 2021, the Nobel committee awarded Russian journalists Dmitry Muratov and Maria Ressa the Nobel Peace Prize for “their efforts to safeguard freedom of expression, which is a precondition for democracy and lasting peace.” Even though their news outlet, Novaya Gazeta, was closed because of the war, both have worked tirelessly to bring the truth to light and help stop the war.

Muratov, the editor-in-chief at Novaya Gazeta, decided to sell his Nobel Peace Prize medal to raise money for Ukrainian relief. Heritage Auctions hammered closed the auction for a record $103.5 million. All proceeds were paid to UNICEF’s aid efforts for Ukrainian children and their families displaced by war. It is a record sale for any Nobel medal and any numismatic item.

And now the news…

 June 19, 2022
The mighty gold often overshadows its cousin silver, but did you know that its price jumped 70% the last year? From $15.5 per ounce, silver is now traded at $27 an ounce worldwide.  → Read more at newsweekme.com

 June 21, 2022
Amateur metal detectors have found a Viking-era cache of silver coins and jewellery in a field in Mynämäki in southwest Finland, the Finnish Heritage Agency has reported in a press release.  → Read more at yle.fi

 June 24, 2022
TBritain’s Central Bank will remove bank notes worth 14.5 billion pounds, or nearly $18 billion, from circulation by Sept. 30, as it seeks to retire its remaining paper currency in favor of polymer bills. The transition will make Britain the world’s largest economy that uses only plastic-like bank notes.  → Read more at washingtonpost.com

 June 24, 2022
SN 1054 was almost wholly absent from the Western record—except, potentially, for a subtle hint at it in the most unlikely of place: some Byzantine coins.  → Read more at phys.org

 June 25, 2022
Back in 1951, shortly before I was born, my father had a very challenging job. He worked at a tavern in a very rough Chicago neighborhood on East 51st Street. One very special day for me, anyway, a customer came into the tavern, ordered a drink, and paid for it with a half dollar.  → Read more at americanthinker.com
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LA28 Commemorative Coins Bills

One of several emblems as part of a changing logo to be used by LA28 Committee

Two bills were submitted in Congress (H.R. 8047 and S. 4382) to create a 2028 commemorative coin program for the LA28, the Summer Olympics and Paralympic Games hosted in Los Angeles in 2028. Both are called the LA28 Olympic and Paralympic Games Commemorative Coin Act.

If passed, the commemorative set will include a $5 gold coin, silver dollar, clad half-dollar, and a five-ounce silver proof coin that collectors call the “hockey puck.” The bill sets mintage limits are 100,000 gold coins, 500,000 silver dollars, 300,000 clad half-dollars, and 100,000 proof hockey pucks.

The 300,000 limits for the clad half-dollars are likely to be increased when the bill goes through markup.

The bill sets the surcharges at $35 for each of the $5 gold coins sold, $10 for each silver dollar, $5 for each clad half-dollar, and $50 for each hockey puck. Proceeds will be paid to the U.S. Olympic Committee.

If the program sells out, the U.S. Olympic and Paralympic Committee will receive $15 million from the sale of the commemoratives.

Of course, all this will be moot if the bill does not pass Congress and is not signed by the President.

H.R. 8047: LA28 Olympic and Paralympic Games Commemorative Coin Act
Sponsor: Rep. Brad Sherman (D-CA)
Introduced: June 13, 2022
Referred to the House Committee on Financial Services. — Jun 13, 2022
Introduced in House — Jun 13, 2022
This bill can be tracked at http://bit.ly/117-HR8047.

S. 4382: LA28 Olympic and Paralympic Games Commemorative Coin Act
Sponsor: Sen. Alex Padilla (D-CA)
Introduced: June 13, 2022
Introduced in Senate — Jun 13, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. — Jun 13, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor Introductory Remarks on measure: CR S2912) — Jun 13, 2022
This bill can be tracked at http://bit.ly/117-S4382.

Weekly World Numismatic News for June 19, 2022 on the 20th

Now is the time for all exhausted people to take a necessary vacation. If you are tired of the pandemic, need a breather, worked your behind off, and have not taken a break, it is time you take a break.

Disconnect from the world and go away. Rent a boat and go out into the middle of the ocean and enjoy the view. The sound of the boat’s engine and the wake it leaves behind is symbolic of washing away the cares and worries of the day.

Yes, I am on holiday and relaxing. It is time to get away and enjoy myself after starting a business and ensuring it survives through the pandemic. Change is coming but not before I recharge the batteries. Even after driving over 10 hours and spending two days away, I recommend going away to just relax. I know the price of gas is up along with everything else. Then go for one week instead of two. Leave for an extended weekend. Find a bed and breakfast of a lovely Airbnb somewhere and just go. Having a break is good for your mental health. And what good is collecting if your mind is scattered in the doldrums?

In the meantime, if I find anything fun in numismatics, I will let you know.

And now the news…

 June 10, 2022
The American Women Quarters Program aims to celebrate and honor women who have made history in the US. This week, Wilma Mankiller was honored, and she will be featured on a limited quantity of US quarters. Mankiller was the first women to serve as principal chief of a major American Indian tribe.  → Read more at thehill.com

 June 14, 2022
It is increasingly common to see various options on the Internet for collectible products, such as coins, action figures, artistic pieces and even banknotes that are currently in circulation in Mexico.  → Read more at california18.com

 June 14, 2022
The new Bela Lyon Pratt Gallery of Numismatics at the Yale University Art Gallery showcases objects from the museum’s numismatics collections — rare and unique coins, medals, and paper money. The Circus Maximus, the stadium where Romans gathered by the tens of thousands to watch chariot races and other spectacles, had lap counters shaped like dolphins.  → Read more at news.yale.edu

 June 19, 2022
It would undoubtedly be strange that among the coins most sought after by collectors, and therefore most appreciated, is the paltry 1 cent coin. Rare one-cent coin – Nanopress.it  → Read more at hardwoodparoxysm.com
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Things That Make You Go Hmm…

Life can be confusing. One of those confusions is when people do something for reasons that are not obvious. Then when the people were asked why they did not offer any answers.

1882-CC GSA “Grand Snake Morgan Dollar Struck 15% Off Center graded NGC MS 65 (Image courtesy of NGC)

A few weeks ago, NGC announced they certified the “Grand Snake,” an 1822-CC Morgan Dollar that was struck off-center and housed in a GSA holder. What makes the coin unique is that it has the further off-center strike of any known Morgan Dollar, and it is the only one known to be in a GSA holder.

The coin is fascinating in that it looks stunning, survived for so long to be part of the GSA Hoard, and the original owner purchased the coin for $30 in 1972. But that is not what makes this coin a curiosity.

Rather than NGC applying the tamper-evident label that NGC wraps around the GSA holder, NGC placed the entire GSA holder in one of their Mega Holders.

According to NGC’s website, the Mega Holder can hold a coin as large as 180 mm (about 7-inches) in diameter and 28 mm (about 1.1-inches) thick. The NGC holder appears to be three times the size of the GSA holder.

Understandably, a collector would send a coin of this significance to NGC for authentication and grading. But why did NGC have to slab the entire GSA holder? The coin is 38.1 mm in diameter (less than 1-inch) and is in a holder for a coin seven times its size. The coin, which should be the central focus, appears lost.

I tried to ask NGC about their decision to slab the entire GSA holder, and the response I received referred me back to the article that does not discuss the decision. There must be a reason other than “this is what the client wanted.” Even if NGC does not want to answer the question, I want to see the coin in person.

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