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!
Jan 4, 2008 | Canada, coins, education, US Mint
If you think of the US Mint as the largest manufacturer of coins, the Royal Canadian Mint may be the largest manufacturer of non-circulating legal tender (NCLT) coins. Sure, the RCM does mint circulating coinage for Canada, but a visit to their website will introduce you to a comprehensive catalog of NCLT coins commemorating everything Canadian or international themes that affect Canada.
The RCM uses a different process than the US Mint to strike NCLT coins. The US system is more automated than the RCM uses. A friend sent a link to the following video about the minting process at the RCM from the Discovery Channel. I thought it was worth sharing. Enjoy!
Dec 30, 2007 | coins, grading
Turmoil has hit the third party grading services making the status of a sector of the industry tenuous at best. It started in September when PCI announced that J.T. Stanton had left PCI. In December, it was discovered that all tangible and intangible assets of PCI will be sold by auction. Assets will be sold to the highest bidder at an “Absolute Public Auction.” The auction will be conducted by Gravitt Auction, Inc. of Chattanooga, Tennessee on Wednesday, January 16, 2008 at 12:00PM EST in the PCI offices in Rossville, Georgia. PCI continues to operate and accepting submissions for coin grading.
The next big story was the wholesale firing of its entire Austin, Texas staff at ANACS. We first learned of the firings from postings on the Collectors Society and Collectors Universe public message boards on December 26. Within two days it was announced that Dynamic Force LLC, of Englewood, Colorado, purchased ANACS from Anderson Press, the parent company of Whitman Publishing. The sale price was not disclosed. Dynamic Force is the company owned by renown grader James Taylor.
Two years ago, Taylor helped Anderson Press move ANACS from Ohio to Austin, Texas. Once the move was completed, Taylor then left ANACS to return to his home in Colorado to be CEO of ICG. Now that Taylor owns ANACS, he will move the company to Englewood and expects to re-open on January 2, 2008.
A short distance from where ANACS will be located are the offices of Independent Coin Grading Company (ICG). It is being reported that several graders have resigned from ICG and will work at the new ANACS. Although this leaves these positions available at ICG, there have been no reports that the former ANACS graders in Austin will move to Colorado to work at ICG.
Based on the survey conducted by the Professional Numismatic Guild (PNG) and Industry Council For Tangible Assets (ICTA), ANACS and ICG are considered the second tier of third party grading services by receiving a “Good” ranking. PCI received a “Poor” rating in the same survey. Only Numismatic Guarantee Corporation (NGC) and Professional Coin Grading Service (PCGS) received “Superior” ranking.
Although the survey and other perceptions consider NGC and PCGS the leaders in third party authentication and grading, these other services have their place in the industry. For example, ANACS would grade problem coins noting the problem and assigning net grades. ICG works with Combined Organizations of Numismatic Error Collectors of America (CONECA) to assign official CONECA numbers and description on error coins. ICG also has a long list coins and tokens that they will grade. These services are necessary for collectors. It would create a void if changes in these companies would de-emphasize the advantages ANACS and ICG have.
I finally picked up a series if very interesting errors that I wanted to have encapsulated as a special collection. I was planning to send the coins to ICG to take advantage of their service with CONECA. There are also some cleaned Morgan dollars that I would like ANACS to encapsulate and provide VAM attribution. But with the turmoil that is going on with these companies, I am going to wait until the proverbial dust settles—hopefully, for the better.
Dec 27, 2007 | coin design, coins, commemorative, legislative, RCM, Royal Mint, state quarters, US Mint
Around the end of November or the beginning of December, the numismatic year begins to wind down and we start to look ahead to the new year. As 2007 has entered its final week, December was a buys and interesting month with the voting for the People’s Choice Award for Coin of the Year, to the release of the 10th Anniversary Platinum Eagles, the release of a plethora of Presidential $1 Coin products by the US Mint, and congress doing good and bad with our money. But with a week to go in 2007, everyone is getting ready for 2008.
Looking ahead, this is the last year of the 50 States Quarters for the states—the District of Columbia and the territories will have quarters issued in 2009. Designs have been announced with Arizona and Alaska having the potential to be very good looking coins.
Designs for the four Presidential $1 Coins have been announced. For 2008, the new dollar coins will feature James Monroe, John Quincy Adams, Andrew Jackson and Martin Van Buren. It is apparent that the Mint engravers are using official portraits and other art to base the coin designs. This makes makes the portraits very pleasing and worthy of being on coinage. Along with the Presidential coins, the First Spouse gold coins will include Elizabeth Monroe, Louisa Adams, Andrew Jackson’s Liberty, and Martin Van Buren’s Liberty. Both Jackson and Van Buren were widowed when they served as president.
Speaking of dollar coins, 2008 begins the Native American $1 Coin program. From 2008 through 2016, the reverse of the Sacagawea “Golden” Dollar will be changed yearly commemorate an aspect of history of the native American people. It will be interesting to see how the Mint will handle the design of this coin with the built-in bureaucracy prescribed by law.
The first commemorative for 2008 will be the American Bald Eagle Recovery and National Emblem Commemorative Coin to honor of the recovery of the Bald Eagle species, the 35th anniversary of the Endangered Species Act of 1973, and the Bald Eagle’s importance as a national symbol. I cannot help from thinking that Benjamin Franklin wanted the turkey as the national symbol!
The Bureau of Engraving and Printing will release a redesigned $5 Federal Reserve Note with updated security features and a new purple color and a larger “5” on the reverse for the visually impaired. Sometime during 2008, BEP will introduce a redesigned $100 FRN with new security features and color. Because the BEP is not required to have its designs vetted by the Commission of Fine Arts, the new design will remain a secret until the BEP is ready to make their announcement.
Outside of the United States, the Royal Canadian Mint has started to introduce new non-circulating legal tender (NCLT) coins with new designs. The RCM is stressing new colors, designs, and the embedding of gemstones in their coins. Also, the 2010 Winter Olympics continues to be a significant theme of RCM coins.
Across the pond in the United Kingdom, the Royal Mint is advertising their new designs. New designs for legal tender coins are available from the Royal Mint whose sets include three commemorative coins honoring the 60th birthday of Prince Charles, the 450th anniversary of the accession of Queen Elizabeth I, and commemorating the 100th anniversary of the 4th Olympiad held in London.
Even The Perth Mint has issued its 2008 Silver Koala. This $1 NCLT silver coin is the second in the series of the Koala series introduced in 2007. The Perth Mint has also tried new coinage methods that includes moving parts and holograms.
It is going to be a very busy year and exciting year in numismatics.
Dec 23, 2007 | coins, dollar, legislative
In the excitement of the extension of the 50 State Quarters Program to include the District of Columbia and the five territories, the omnibus bill also calls for the removal of the motto “IN G-D WE TRUST” from the edge to the front of both the Presidential Dollars and the updated Sacagawea Dollars (Native American $1 Coin Act). Section 623 of House Report 110-497 (H.R.2764) changes Title 31 of the US Code Section 5112(n)(2) (31 USC §5112(n)(2)) to alter the Presidential Dollars and 31 USC §5112(r)(2) for the updated Sac Dollars.
According to the bill, “The change required by the amendments made by subsections (a) and (b) shall be put into effect by the Secretary of the Treasury as soon as is practicable after the date of enactment of this Act.” Considering the bill has yet to be signed (as of 12/21), it might be too late for the James Monroe dollars. However, there may be enough time to “fix” the John Quincy Adams dollars.
From what could be found, it appears that the measure was inserted by a Republican member (at this time rumored to be Sen. Sam Brownback (R-KS)) upset over what was called “G-Dless dollars” caused by edge lettering errors. When the edge letter errors first occurred, the uninformed and easily aroused were told that the US Mint removed the motto from the coins on purpose. Conspiracy theorist, anti-government critics, and the religious right became enraged over a mistake. Since then, bills have been introduced in the House and Senate to move the motto to the obverse of the coin. None have had hearings in either house.
I do not like the reason why this was done. Religion is a matter for the clergy and not congress. ALL religions should be respected and not a matter of legislation. Religion is personal and should not be legislated. Yet some members of congress feel they have to proselytize as they legislate. Arrogant members of congress are forcing their religious convictions on the public through our money. I feel is a violation of the First Amendment: Congress shall make NO LAW respecting an establishment of religion, or prohibiting the free exercise thereof. I know the courts do not agree with me, but I feel they are very wrong!
My feeling regarding the use of this motto on coins was best expressed by President Theodore Roosevelt:
My own feeling in the matter is due to my very firm conviction that to put such a motto on coins, or to use it in any kindred manner, not only does no good but does positive harm, and is in effect irreverence, which comes dangerously close to sacrilege… it seems to me eminently unwise to cheapen such a motto by use on coins, just as it would be to cheapen it by use on postage stamps, or in advertisements.
This provision is buried in a large piece of legislation that is critical to the operations of the government. It was done in a manner that prevented discussion and debate by spineless politicians looking to curry favor with their ignorant constituents. Unfortunately, those of us who like the move for its numismatic design value will have to put up with congressional ineptitude.
Dec 22, 2007 | coins, legislative, state quarters
Buried in the omnibus budget act that congress passed last Tuesday was a provision to extend the 50 State Quarters Program to include the District of Columbia and the territories of the Commonwealth of Puerto Rico, Guam, American Samoa, the United States Virgin Islands, and the Commonwealth of the Northern Mariana Islands.
Since 2000, District of Columbia Delegate Eleanor Holmes Norton introduced bills trying to include DC and the territories with the 50 State Quarters Program. For the 110th session, Del. Norton introduced H.R.392, which had passed the House and was sitting in the Senate Committee on Banking, Housing, and Urban Affairs. The bill has been sitting in committee with no action since last January.
Enter Rep. José Serrano (D-NY). Serrano is a native Puerto Rican representing the south Bronx and is chairman of the House Appropriations Subcommittee on Financial Services whose jurisdiction is the Department of the Treasury. This gave him the power to insert the measure into this bill which he announced with great fanfare.
According to this article at washingtonpost.com, advocates of DC home rule are in favor of this measure. Now it is time to see how the District handles the design and what they come up with. Considering the dysfunction of the DC government, this should be an interesting exercise.
Dec 15, 2007 | coins, dollar, US Mint
Step right up and get your Presidential Dollars, here! If you act now, the US Mint will sell you dollars any way you can slice, dice, and package them.
Bags and rolls are so 2007. No, your Mint can do better… aside from a new US Mint branded album that can only hold two years worth of dollars so you can pay them every couple of years until the program runs out, the Mint has created all new collectibles just for you!
But the Mint does not stop there. Oh no… now you can get a new Dollar Set with uncirculated coins and an uncirculated American Silver Eagle. Isn’t this exciting, boys and girls?
But wait, there’s more! The Mint cannot let all those unused coins sit around. So it’s inventory reduction time and you can benefit from their situation. Rather than go to the bank and buy boring rolls, get your dollars on specially printed souvenir cards. That’s right… your US Mint has come up with a new set of collectibles offering souvenir set with only Philadelphia coins, or a set with only Denver coins, or a complete P&D set. What a bargain!!
I know what you are saying… you like those shiny proof coins. Nothing beats a beautiful shiny coin, right? Well, the US Mint has you covered. in addition to the standard proof set which is so last week, the Mint will sell you individual cards with proof coins from each of the first four presidents: Washington, Adams, Jefferson, and Madison.
But you ask, what about the ladies… we cannot leave out the ladies, right? OF COURSE NOT!!
Take an uncirculated coin of George and add a Martha bronze medal, and viola… an instant collectible! If George and Martha are not on your Christmas list, you can also buy the Adams family, Tommy Jefferson and the medal not of his wife (or Sally Hemmings), and you can say hello to Dolly and James Madison!
ACT NOW! Offers this good do not last long. Just contact the US Mint and order yours today!!
While my tone is tongue-in-cheek, the product list is not! It was announced last week. I admit to being somewhat of a US Mint fan when it comes to souvenir products. Since the quarters “craze” began, I have been buying many of the Mint souvenirs. I have collections of the First Day Covers, Mint Sets, Proof Sets, the Stamps and Quarters portfolios, but I think this is going way too far! I may consider the card with the dollar and the First Spouse Medal, but that’s all. The number of Presidential Dollar products is really over the edge!!
Dec 14, 2007 | coins, Eagles, platinum, US Mint
If you are looking for a real nice present, you may want to consider buying the 2007 10th Anniversary Platinum American Eagle set. The set consists of two half-ounce platinum proof coins. One is a regular style proof where the elements are frosted and the fields are mirrored. The other coin is what the US Mint is calling an “Enhanced Reverse Proof” because it is not an exact reverse proof—only parts of the elements are reversed to enhance the design. Both coins carry the “W” mint mark.
The Mint will produce no more than 30,000 sets and will restrict the sale of one coin per household for the first seven days of sale with a projected shipping date of December 31, 2007. The set sells for $1,949.95 for one ounce of platinum in a special box. Platinum closed at $1,475 (per ounce) on the New York spot market.
Dec 14, 2007 | books, coins, supplies
I received an email note from Whitman Publishing announcing new items including Lincoln Head Penny and Buffalo Nickel Tribute Edition Coin Boards. For those who do not know, coin boards preceded the ubiquitous blue folders for collecting coins. Whitman’s Tribute Boards are 11×16 boards using the same style as Whitman used in the 1930s. The Lincoln board set consists of two boards to hold 90 coins each covering the Wheat Cent era (1909-1958). The Buffalo Nickel board is a single board that holds 80 coins. It is a very interesting and fun revival of numismatic history.
To make this the ultimate numismatic gift, pair the boards with David Lange’s Coin Collecting Boards of the 1930s & 1940s and now you have a great gift for the numismatist in your life! To buy the book, go to www.coincollectingboards.com and buy the book autographed directly from Dave Lange. Autographed book and coin boards… how cool is that!
Aside from the new A Guidebook of Lincoln Cents by Q. David Bowers (does he do anything else but write books?), Whitman is offering free shipping for orders placed before December 18, free items depending on how much you spend, and a free copy of Bowers’ Inside Story of the State Quarters for all orders.
Remember, Wednesday was the last day of Chanukah and it’s 11 days until Christmas. I hope this helped.
Dec 4, 2007 | coin design, coins, COTY
Numismaster, the online web resource for Krause Publications’ numismatic publications, has posted the nominations for Coin of the Year and a link to allow readers to vote for the People’s Choice Award. The choices are 2006 designs from 15 coins representing Australia, Austria, Canada, Denmark, Finland, France, Germany, Hungary, Japan, Latvia, Poland, Singapore, and the United States. The 2006 Benjamin Franklin Founding Father Commemorative and the Nevada quarter represent the United States.
I have not voted, but I am leaning toward the Canadian “Imagine a World Without Breast Cancer.” Aside from being a coin that I own, the artist captured the essence of the theme. It is a very inspiring image and the enameled pink ribbon in the middle of the coin helps make it a powerful statement. However, another consideration is Poland’s 20 Zloty “St. John’s Night.” The design is compelling and worth a look. I will have to find a better example to see. What an excuse to visit the local coin store!
Although there is no deadline date mentioned, the poll appears under Numismaster’s “Weekly Poll” section. So to borrow a phrase from old Chicago: Vote Early, Vote Often!
Images from Numismaster.com
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