Mar 18, 2008 | BEP
While looking for something else, I came across a link to a job offering for a Designer (Banknote) Apprentice at the Bureau of Engraving and Printing. The job is a true apprenticeship calling for a seven year commitment to work with BEP in various aspects of the money printing process. On the job training and formal classroom training will be paid by the BEP during the apprenticeship.
The job is located at the BEP facilities in Washington, DC. You must be a US citizen and be able to pass a security clearance. It is a government position with all of the perquisite of being a government employee. If you have any questions as to the benefits government employees receive, which are excellent, see the information from the Office of Personnel Management.
If anyone has any artistic ability and is looking for a way to have their work impact billions of people around the world each day, you should apply for this job. Any reader who applies for this job is welcome to be interviewed after acceptance. Good luck!
Mar 17, 2008 | BEP, currency
As time passes, I have found it is difficult to stick with buying only New York-related items for my New York collection. This time, I was helped by the Bureau of Engraving and Printing. After receiving an email alert, I was notified about the 2008 $2 Single Note folder.
As a celebration of 2008, this offer was for an uncirculated Series 2003A $2 Federal Reserve Note with a serial number beginning with “2008xxxxD.” There is a total of 10,000 notes for this series. The BEP’s second offering in this series was for notes printed for the Federal Reserve Bank of New York. I thought this was a great addition to a New York collection, so I ordered three!
The three notes, consecutively numbered, came this week. I was surprised how simple, yet nice, the packaging was. The folder is made of a soft cardboard, 9½ inches wide by 5 inches high (10 inches when open) that is nicely printed and folded over. The notes are in archival sleeves with open tops. I am very happy with the purchase and the performance of the BEP with this transaction. The BEP’s customer service helped me resolve a minor issue (I ordered the wrong item) with no problems and then shipped the order promptly. Maybe the US Mint should hire the BEP as their customer service representatives.
Pictures are of one of the folders received. The Notes have been marked as “copies” to prevent counterfeiting.
Mar 11, 2008 | BEP, currency
This Thursday, March 13, the Bureau of Engraving and Printing will release the new colorized Series 2006 $5 Federal Reserve Note. A “first spend” ceremony is scheduled for 10:30am and will include Treasurer Anna Escobedo Cabral, Associate Director of Payment System for the Federal Reserve Board Michael Lambert, Pamela Gardiner of the BEP, and Deputy Assistant Director of the US Secret Service Michael Merritt (click here for biographies). A $5 note will be spent in the gift shop at Lincoln’s Cottage at the Soldiers’ Home.
In addition to the first spend event, the Federal Reserve will be distributing 180 million, or $900 million, new notes to member banks. The Federal Reserve will distributed only the new $5 notes to the banks for 15 days where they will circulate along side the older notes. After the 15 days, viable older notes will be placed back into circulation.
It is important to remember that the old notes will not be recalled or demonetized. They will circulate along side the new notes. Older notes will be replaced as they wear over time.
Images courtesy of the BEP
Feb 2, 2008 | BEP, coins, gold, US Mint
On Friday, the US Mint announced that the American Buffalo 24 karat gold coin will begin selling on Tuesday, February 5. It was noted that the release coincides with the Lunar New Year that begins on February 7 since the number “8” is traditionally associated with wealth and prosperity in Asian cultures. For 2008, the Mint will be producing special packaging associated with this occurrence.
Although the US Bureau of Engraving and Printing has been offering the Lucky Money Collection products for a few years, this is the first time such a product is being offered by the US Mint. Of course, it is easier for the BEP to offer such products using the properties of the serial numbers to promote these products. Also, it should be noted that Mint Director Edmund Moy is the first Asian-American to hold this position.
Notably different will be the price of the proof coin. With the price of gold at historical highs ($907.90 when the market closed on Friday), the Mint has priced the coin at $1,018.88. The last price for the 2007 American Buffalo was $899.95. The press release notes that “as with all precious metal numismatic products, a future pricing change may be required.”
Given the state of the economy, it will be interesting to learn how this product will sell. I know I will wait before purchasing.
Jan 11, 2008 | BEP, coins, commemorative, currency, US Mint
Happy 2008 from me and your US Mint. For this year, I will continue to write about what interests me and the US Mint is trying to adjust to an every increasing set of product offerings. I also want to give a shout out to the Bureau of Engraving and Printing for jumping on the new product bandwagon. So let’s first take look at the Mint.
With a price increase of $2, the US Mint began sales of the American Silver Eagle Proof coin on January 3. US law prevents the US Mint cannot from selling or distributing coins with a future date, but it does not prevent them from striking the coins in preparation. So these coins are being shipped as they are sold. I believe that is the earliest in the year that the Mint has delivered a current year coin.
You can order the Bald Eagle Commemorative coins beginning on January 15. The Bald Eagle Commemorative will have three different designs on a $5 gold coin, silver dollar, and clad half-dollar. Coins will be available as Proof and Uncirculated coins that can be purchased individually, as a three coin proof set, a “Young Collector’s Set” with an uncirculated half-dollar and other educational material, and a coin & medal set featuring an uncirculated silver dollar and a bronze Bald Eagle Medal from the National Wildlife Refuge System Centennial Medal Series. See the Mint’s announcement for complete list of products, mintage limits, and prices.
Sales of bags and rolls of 2008 Kennedy Half-Dollars and Sacagawea Dollars will begin on January 17. These coins will not see circulation because there is no demand for them. But since the Mint is legally required to strike these coins, they will be offered to collectors.
Sales of the 50 State Quarters usually begins earlier than other proof sets. So get ready for the last of the 50 state proof coins on January 24. The program has been extended one year to include the District of Columbia and the five territories of the United States.
Not to be out done, the BEP is selling the second issue of the Americana Series with the release of the intaglio print for the 53rd Florida United Numismatics (FUN) show in Orlando this weekend.
Also released on January 10 are the 2004 $20 Single Note for the federal reserve districs of Atlanta, Boston, New York, and Philadelphia. The notes in this set are those with the lowest possible serial numbers that are packaged in an archival sleve placed in a folder representing the federal reserve district. Each folder is $45 and the entire 12 note series can be bought as a subscription for $479.95.
Taking their cue from their friends at the US Mint, BEP “is excited to celebrate the year 2008 by offering the 2008 $2 Single Note.” This product is a Series 2003A Federal Reserve Note from the Atlanta federal reserve district with the serial number beginning with “2008.” Since the serial number is eight digits followed by the letter designating the federal reserve district, there will only be 10,000 notes for this product (20080000D through 20089999D). Each folder will cost $7.95. There is no indication that this type of collectible will be extended to other federal reserve districts.
Maybe the other notes whose serial number beginning with 2008 will be used for BEP’s Prosperity Line collection. The Prosperity Note Line features serial numbers beginning with 168 or 8888 which are significant in Chinese symbolism. On January 17, BEP will release the $2 Double Lucky Money Set. The set features two uncirculated $2 Federal Reserve notes. The serial number of one note will begin with “8888,” to symbolize good fortune, and “2008,” to commemorate the New Year. Both notes will feature serial numbers with matching last four digits. When released, the set will cost $48.88.
All this being introduced in January—with eleven months to go! Happy Collecting!
Nov 27, 2007 | Baltimore, BEP, shows, US Mint
I hope everyone had a good Thanksgiving and took some time off to relax and give thanks for what they have. I also hope that you would consider helping someone else who does not have the means to help themselves. It could be something as small as a donation to a food bank to a donation of your time to a shelter. Whatever you do, giving can be more satisfying as receiving.
My last entry was about my going to the Baltimore Coin and Currency Convention. I was to attend on Friday but circumstances prevented me from arriving in the morning. I was able to spend most of the afternoon walking around checking out the coins and visiting with people. This was Whitman’s third time running the show and it looks like they are really refining the way the show is being presented. A notable refinement was the placement of the Bowers and Merena table along the wall in Hall C was a very good idea. It allowed for more room to let potential bidders to view auction lots and interact with the Bowers and Merena staff.
Along that idea, Whitman placed their own booth in the same area between the Bowers tables and the exhibit from the Bureau of Engraving and Printing making it a good area to visit. BEP brought its “Billion Dollar Exhibit” with currency from past and present. BEP also had sheets of the new $5 Federal Reserve Notes to see the new designs. It was the first time the new notes were on display for the public. Although I am not a currency collector, I like how the BEP does their exhibit and makes their people available to ask questions. The US Mint should learn from the BEP how to put together an exhibit. After all, the Mint has one of the most extensive collections of US coins outside of the Smithsonian Institute. They should use shows like Baltimore to show off the collection.
As always, I enjoyed myself and purchased a few neat items. I will discuss my experiences in a few posts over the next week-or-so along with images of my purchases. What’s a good story without pictures, other than a fish story!
Nov 13, 2007 | ANA, Baltimore, BEP, coins, currency, shows
As I take my midday lunch break on Tuesday, I made sure that I posted my Friday day off on my company’s internal calendar and started to think about the Whitman Baltimore show. So I started to gather my email of announcements and news to bring together the scope of Whitman’s effort going into this show.
I previously wrote about the American Numismatic Association offering classes on Understanding Die Varieties and Coin Collecting 101. This is a great step for the ANA expand its education mission beyond its conventions and the summer seminars.
The Bureau of Engraving and Printing announced their 2008 Intaglio Print Subscription Program called the “Americana Series.” The first issue will be at the Baltimore Show. BEP will have a press on site in Baltimore. BEP announced that they will also display, for the first time ever, a sheet of the new $5 Federal Reserve Note as well as its “Billion Dollar Exhibit.”
David Lange announced on the Collectors’ Society Boards that he will presenting a slide show about coin boards of the 1930s-40s. This will be based on his book Coin Collecting Boards of the 1930s & 1940s. According to Dave, the program will be on Saturday at 2pm in Room 301. There will be a free drawing in which three attendees will each win a vintage coin board after the program.
With over 4,000 lots and a full currency session, Bowers and Merena Auctions will be holding their largest auction in company history. There are a number of interesting items for the rare coin and currency collector. See their online catalog for the lots that will be auctioned.
There will be coin grading by NGC, PCGS, ANACS, and ICG. The ANA and the folks from Florida United Numismatists will also be present.
It appears as if Whitman is looking to challenge FUN’s proclamation of being the “Largest Coin Show in America.” The only thing Baltimore is missing are the exhibits—maybe this is something they can include next year. But if it is Whitman’s goal to make their Baltimore show larger than FUN, I am sure those of us who live closer to Baltimore appreciates the opportunity to attend a premier show.
Sep 20, 2007 | BEP, currency
Today, the Bureau of Engraving and Printing released a web-based video starring BEP Director Larry Felix, Treasurer Anna Escobedo Cabral, and Assistant Federal Reserve Board Director Michael Lambert. Central to the video is the new design of the 5-dollar federal reserve note with new security features similar to the ones on the redesigned $10 and $20 notes. Features used on the new 5-dollar bill are as follows:
- Watermarks on either side of Lincoln’s portrait. A larger “5” is to the right close to the edge and a vertical line of “5s” just to the left of the portrait.
- The embedded security thread is to the right of the portrait and a different style than used on other notes.
- The color added to the note is a light purple that is suspected to not duplicate well digitally
- Surrounding the portrait are a circle of stars rather than having no border.
- Micro-printing is still used on various areas of the note.
- A high-contrast, larger “5” is on the reverse to make it easier to read to help “those with visual impairments distinguish the denomination.”
BEP provides more multimedia information on the page announcing the new note.
Anyone who likes the look of interesting currency, such as the new Euro notes, will look upon the new design as more of the same. The BEP has attempted to modernize the notes while keeping a similar look that has been around since the 1920s. Other than the necessity for the security feature, the changes in the Federal Reserve Notes can be best described as “ho hum.” Maybe, if the BEP came up with better designs we might encourage more people to collect currency.
Sep 19, 2007 | BEP, Eagles, US Mint
We collectors of US coins cannot live without the US Mint since they are the government’s exclusive manufacturer of coins. They run the world’s largest coin factory in Philadelphia, second largest in Denver, and they control the market for present-day collectibles. Last week, the Mint suspended the sale of uncirculated American Gold Eagles with the “W” mintmark because of the rising price of gold. It was reported that sales of gold American Eagles will be repriced and returned to sale on or after September 27.
Today, I visited the Mint’s website to order proof sets. On their front page is a graphical changing area that tells the web surfer about available coins. The first banner was for the uncirculated gold American Eagle coins. When I clicked on the image, I was sent to the on-line catalog that shows that these coins are are “not available.”
Even though I am not in the market for gold American Eagle coins, I found it distressing that the Mint would announce the situation to the media and leave the publically accessible website to provide conflicting information. The Mint public relations department should be more diligent at ensuring the website as the correct information, especially since the Mint wants more people to use it rather than the telephone services.
Since the recent growth in the collecting market, I have not had problems with orders from the US Mint. I once had problems with the Bureau of Engraving and Printing that was blamed on their mishandling of technology. But this example of conflicting information and careless treatment of public information can cause problems for some customers. As a government agency with exclusive manufacturing rights to our coinage, the Mint must be held to a higher standard for the integrity of the country they represent.
Aug 24, 2007 | BEP, currency, history
Next in the series of updated Federal Reserve Notes (FRN) from the Bureau of Engraving and Printing (BEP) will be the redesigned five dollar bill. According to the BEP press release, BEP will unveil the new design on September 20, 2007, will be presented online and accessible directly to the general public in an event they are calling “Wi-5.”
“A digital unveiling for the redesigned $5 bill provides a new opportunity to engage people in the public education process,” said Dawn Haley, Chief of the Office of External Relations at the Treasury’s Bureau of Engraving and Printing, “We hope that the ‘Wi-5’ theme will get consumers excited about the new bill and encourage them to use the resources on our Web site to learn about its security features and protect their hard-earned money.”
Following the online introduction, a question and answer period will take place with registered reporters. The general public will be able to observe the online Q&A session but will not be allowed to participate. This is a new format for the government and the media covering government activities. Prior commitments will prevent this blogger from participating, but I will be able to comment from the transcripts that will be posted on the BEP website.
BEP released the first redesigned note with advanced security mechanisms and color in 2003 with the redesign of the $20 FRN. The new note included a security thread embedded in the paper that runs vertically that includes “USA” and the denomination of the note. Color shifting ink was added to the 20 at the bottom right so that the color would change as you would move the bill. Finally, a watermark was added to a blank area to the right of the portrait of Alexander Hamilton with an image of the portrait. The same mechanisms were added to the $50 (2004) and $10 (2006) FRN.
BEP reports that counterfeiting has been reduced since the introduction of the new notes and increased law enforcement activitities.
A re-designed $100 note will be released in early 2008 completing the updates. BEP does not plan to update the $1 and $2 FRN.
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