Glenna Goodacre, the designer of the Sacagawea Dollar and world-renown sculptor, died at her home in Santa Fe, New Mexico of natural causes. She was 80 years old.
Amongst her better-known works include the Vietnam Women’s Memorial on the National Mall in Washington, DC. Goodacre also created the 8-foot standing portrait of President Ronald W. Reagan at the Reagan Library in Simi Valley, California.
The unveiling of the Sacagawea Dollar design at the White House with (L-R) irst Lady Hillary Clinton, Sacagawea Model Randy’L He-dow Teton, and Designer Glenna Goodacre.
Numismatists know Goodacre for the design of the Sacagawea Dollar. Since there are no images of Sacagawea, the Shoshone guide of the Lewis and Clark expedition, Goodacre found Randy’L He-Dow Teton, a member of the Shoshone-Cree tribe, to be her model. The resulting profile of Sacagawea in three-quarter view and her infant son, Jean Baptiste Charbonneau, carried on her back has been produced for 20 years.
In 2018, Goodacre donated several plaster and bronze casts of the coin that was used to test the design and show the relief of the coin. There is also a plaster cast with an alternate version without her baby on her back.
As Dennis Tucker wrote in her memory, “The numismatic community joins Glenna Goodacre’s family, friends, and many fans in mourning her loss and celebrating her art.”
And now the news…
April 14, 2020
SANTA FE, N.M. (AP) — Renowned sculptor and painter Glenna Goodacre, who created the Vietnam Women’s Memorial on the National Mall in Washington, D.C, has died. She was 80.
→ Read more at huffpost.com
April 14, 2020
She discovered the rare 22-carat, 16th century Henry VII Fine Gold Angel coin A single mum struck gold when she unearthed a 500-year-old coin worth £2,500 in her back garden. Amanda Johnston, 48, was bored at home in the appropriately named Portsmouth suburb of Moneyfields when she grabbed her son George's metal detector and set to work looking for treasure.
→ Read more at dailymail.co.uk
April 15, 2020
(Bloomberg) — The clamor for retail investors to get hold of precious-metals coins is about to get more urgent.
→ Read more at finance.yahoo.com
April 16, 2020
(Kitco News) – Bullion investors shouldn’t expect to see a drop in premiums anytime soon as the supply crunch for gold and silver coins continues to grow, according to Peter Hug, global trading director for Kitco Metals.
→ Read more at kitco.com
April 16, 2020
Gold saw its price soar over 1.5% notching its highest increase in more than seven years earlier this week, as investors moved towards the precious metal’s traditional safe-haven focus on fears of an extended recession and gloomy corporate earnings.
→ Read more at irishexaminer.com
April 18, 2020
Jeb Robinson is on the hunt for the SS Benmacdhui A diver aged 84 and his old team – the youngest in his 70s – are kitting up to find treasure on the bed of the North Sea. Jeb Robinson will show there’s life in the old seadog yet as he searches the SS Benmacdhui.
→ Read more at mirror.co.uk
Now that some of us have a little time on our hands, why not think about how you can have fun with your collection. After all, there is more to collecting coins by types or date sets. Sometimes you need to think outside the folder and album and find something different.
Take, for example, the money clip pictured here. Embedded in the money clip is a version of my favorite coin, a Peace Dollar. Although the 1922 Peace Dollar may be the most accessible of the series, its presence in this money clip adds to the allure.
But wait, there’s more!
If you look above the Peace Dollar is the Indian Chief emblem of Pontiac, the former automobile division of General Motors. The emblem celebrates the silver anniversary, 25 years, of the Pontiac Motor Division.
GM introduced Pontiac as a companion marque nameplate to the Oakland Motor Division in 1926. Oakland managed Pontiac to sell cars at a lower price point than other Oakland manufactured vehicles. By 1929, Pontiac became more popular than Oakland, which led to Oakland’s closure in 1931 during the Great Depression.
Ironically, Pontiac would meet the same fate during the Great Recession. To meet the demands of regulators for accepting a $25 billion federal government loan, GM agreed to close Pontiac and Saturn, sell Saab, and close or sell Hummer as part of the restructuring. Like Oakland, Pontiac is now part of automaking lore.
The 1951 Pontiac Chieftain was a popular car. The Chieftain was available as a sedan, sedan coupe, business coupe, and deluxe convertible coupe. In 1950, Pontiac introduced the Catalina coupe that became a popular option that, in 1959, the Catalina succeeded the Chieftain as a model. The cars sold at the right price point for the burgeoning middle class of the post-war United States.
I drove a 1970 Pontiac Catalina 1977-78. It was big. It was green. It guzzled gas. We nicknamed it, “The Green Bomb.”
Turn over the money clip, and aside from seeing the reverse of the Peace Dollar, the clip is engraved, “Jack Blank Says Dollar for Dollar You can’t Beat a Pontiac.”
Jack Blank Pontiac was located at 1437 Irving Street, NW, in Washington DC. Jack Blank (1901-1980) founded Arcade Pontiac in 1937. In 1951, he renamed the dealership after buying out his partners. Blank retired as company president in 1969.
Blank was a prolific promotor. Aside from buying the rights to be the “Official Car Dealership of the Washington Redskins,” Blank created a lot of promotional items. Numismatically, collectors can find a 1964 encased cent with the dealership’s name and address. The money clip was a one-year promotion.
Blank died in 1980. The last records of the dealership were advertising in 1992 publications.
One collectible satisfies three interests. Numismatically, it is a Peace Dollar. I love the Peace Dollar. Even though this dollar was polished and is glued into an enclosure, it is still a silver dollar.
It is an advertising piece for a vintage car. My two favorite car eras are the muscle cars of the mid-1960s to the early 1970s and the cars of the art deco era. The Chieftain would be redesigned in later years, but it retains the art deco look I like.
Finally, it is part of Washington, DC history that has nothing to do with the government.
It is your turn to go out and find something that will satisfy you numismatically and other interests!
The 2021 commemorative coin calendar is full and it does not include a commemorative Morgan or Peace silver dollar.
Last October, Congress passed the Christa McAuliffe Commemorative Coin Act of 2019 (Public Law No. 116-65) to be issued in 2021. In December, they passed the National Law Enforcement Museum Commemorative Coin Act (as part of Public Law No. 116-94). With two commemorative coin programs in 2021, there is no room for the 1921 Silver Dollar Commemorative Coin Act.
The odds of Congress creating a third commemorative program for 2021 is less than 1-percent.
When H.R. 3757 was introduced, the American Numismatic Association sent out a press release and asked the members to write their member of Congress. The numismatic press also carried that mantle at the beginning. Some suggested that a commemorative Morgan Dollar could be struck at the former mint in Carson City.
But that was in July, 2019, prior to the World’s Fair of Money.
During the World’s Fair of Money, a new Board of Governors was installed to allegedly lead the ANA. Since then, there has been little said by the ANA about H.R. 3757. This is the opposite of the response lead by Farran Zerbe.
Zerbe’s proposal for what became the Peace Dollar led to the appointment of a committee that lobbied Congress for the coin’s creation. It was not an easy road for the proposal, but Zerbe persisted, and a bill was passed.
Zerbe, who was ANA President from 1908 t0 1910, showed extraordinary leadership in getting this bill passed.
Many others have stepped up to represent the community with the support of the ANA and the hobby. Amongst the community’s achievements are the Bicentennial coins and the 50 State Quarters program.
Where is that support today?
Where has the ANA been since August 2019?
Like the 1921 Peace Dollar, a 2021 commemorative coin would not only highlight history but make sure the public knows about the ANA’s place in that history. It would introduce new collectors to one of the 20th century’s best designs and the ANA at the same time.
Aside from the public relations boost, 40-percent of the program’s surcharge would be paid to the ANA. With a mintage limit of 500,000 coins with a surcharge of $10 per coin, a potential $2 million could have been added to the ANA’s treasury.
A one-time payment of $2 million would provide a cushion of 35-percent, based on the ANA’s published 2019 budget. It would furnish a down payment on new education initiatives and outreach to promote the ANA’s growth.
The ANA has been business-as-usual with little said from the current Board.
It is difficult to understand why the ANA Board of Governors would let this opportunity pass. Is this a sign of leadership we are to expect during its two-year term?
In our never-ending quest to convince more people to be interested in coin collecting, this week’s news provided us with another example of “if you do something that people like, they will be interested.”
As the U.S. Mint released the Native American dollar coin with the image of Civil Rights leader Elizabeth Peratrovich, Alaskans are clamoring for a wider release of the coin. It is the first time since the early days of the small-dollar programs that there is a broad interest in $1 coins.
Elizabeth Peratrovich was an Alaskan native who was instrumental in having Alaska’s Anti-Discrimination Law passed by the territorial government. It was the first anti-discrimination law of any type passed in the United States.
Alaskans are asking that the Federal Reserve release 5 million coins into general circulation. The Seattle Branch of the San Francisco Federal Reserve Bank is responsible for banking in Alaska.
The Alaska State Legislature passed a resolution requesting the Federal Reserve make these coins available to Alaskans.
Although the Federal Reserve has not publically responded, they should be talking with the U.S. Mint to strike the 5 million coins necessary to send to Alaska. The coins may not circulate, but it is an excellent promotion for coin collecting.
Over the last few years, we have learned that interesting themes have sold well. Look at the interest in the American Somoa National Park fruit bat design. It is a well-executed design that is very interesting and has people looking for the coin in change. It will likely be in the one America the Beautiful Quarter in the most demand.
Other commemorative coins did very well when there was an exciting topic. With no offense to the American Legion, an outstanding organization, but what was the difference in the interest between their commemorative coin and the National Baseball Hall of Fame commemorative?
Remember the Girl Scouts’ commemorative coin fiasco?
You do not have to be a rocket scientist or a marketing guru to understand people will buy what they like. It is why the Royal Canadian Mint and the New Zealand Mint sign deals with entertainment companies to sell coins with movies, comics, and other images. These coins sell.
Unfortunately, we have a congress in the way that prevents the U.S. Mint from expanding its product line. Without being able to create collector coins for a new audience, we will continue to try to figure out ways to do the impossible: get more people interested in collecting coins.
And now the news…
January 23, 2020
Antiques Road Trip is back on our screens this February 2020, with more antiques experts ready to haggle and bag a bargain. Each series follows the same premise, as two experts head out across the country, scouring for the best finds they can then take to auction.
→ Read more at realitytitbit.com
February 11, 2020
A collection of Celtic coins in a Jersey museum has received a Guinness World Record for the largest collection of Iron Age coins discovered in the United Kingdom or Ireland. The total number of coins found in the huge hoard was a staggering 69,347, overtaking the previous record of 54,951 coins held by a collection in Wiltshire.
→ Read more at irishcentral.com
February 11, 2020
OTTAWA — Willie O'Ree's image is on a plaque in the Hockey Hall of Fame, a likeness of his trademark fedora sits atop an NHL award that bears his name, and two hockey rinks in the United States and Canada are named in his honor.
→ Read more at nhl.com
February 13, 2020
The 2020 Native American $1 Coin depicts Alaska Native civil rights leader Elizabeth Peratrovich and a formline raven. (U.S. Mint)
→ Read more at alaskapublic.org
February 13, 2020
Before the $20 bill is redesigned, Harriet Tubman could appear on a coin.
→ Read more at auburnpub.com
February 14, 2020
Seven ancient coins were returned to the government of Cyprus Friday at a repatriation ceremony in Washington, D.C. (CBP Photo/Handout) BALTIMORE, MD — More than 10 years after federal agents in Baltimore discovered ancient coins in a search of cargo, they returned them to their rightful owner: the government of Cyprus.
→ Read more at patch.com
On July 23, 1965, President Lyndon B. Johnson signed into law the Coinage Act of 1965. Congress passed the bill in response to the coin shortages caused by the rising silver prices. When it was signed, the act eliminated silver from circulating dimes, and quarters while reducing the amount of silver used to strike half-dollars from 90-percent to 40-percent for five years. After five years, the half-dollar would be struck using the same copper-nickel clad composition as the lower denominations.
The dual-dated Bicentennial reverse designs are still very popular amontst collectors
The act forbade the striking of silver dollars for five years ending an experiment with the striking of Peace Dollars in 1964. There are rumors that at least one 1964-D Peace exists despite the U.S. Mint’s insistence that all of the coins were melted.
Finally, the act made all coins and currency produced in the United States and specific bank issues as legal tender, which reversed the demonetization of the Trade Dollar in 1867.
The Coinage Act of 1965 marks the dividing line between “classic” and “modern” coinage.
After fifty-four years of modern coinage, there continues to be collectors and dealers who turn up their noses at modern coins.
Although the stories behind many of the classic issues are interesting, modern coins provide a diversity that is meaningful and affordable for the average collector.
The first coin of the modern era that had a public impact was the dual-dated coins with the reverses honoring the nation’s bicentennial. The bicentennial was a two-year celebration preceded by three years of hype and prep. When the coins were released, many people searched their change, looking for the coins. It was the first time in many years that half-dollar and large dollar coins circulated in significant numbers since finding them in change was exciting.
The modern era also saw a big flop when the Susan B. Anthony small dollar coin entered circulation. Even though the U.S. Mint tried to simulate the 12-sides on the coin’s design, the size and the reeded edge was confused with the quarter. People stopped using the Susie B. thus ending whatever momentum dollar coins had.
The Susan B. Anthony dollar was less than successful because it was confused with a quarter
The most successful program of the modern era was the 50 State Quarters program. The program started strong with a lot of interest. Unfortunately, a downturn in the economy and the television hucksters overselling the potential value of the series turned away a lot of potential collectors.
As the success of the 50 State Quarters program grew, Congress passed laws to create several other circulating commemoratives. The programs include the Westward Journey Nickels, Abraham Lincon Bicentennial cents, and the Native American $1 coin program using the golden-colored planchets of the Sacagawea dollar.
The modern era saw the return of the commemorative coin programs. Some were very popular, like the 2001 American Buffalo Commemorative Coin and 2014 National Baseball Hall of Fame Commemorative Coin programs. There were less popular coins, but none had flopped as bad as the 2013 Girl Scouts of the USA Centennial Silver Dollar.
Unlike previous commemorative coin laws, modern laws help the U.S. Mint limit the time these coins can remain on sale. It also limits their production to one year.
Finally, the modern era has given us the bullion coin series. It started with the American Silver Eagle program that was created to provide a way for the United States government to sell off silver saved in the Defense National Stockpile. As a result, the U.S. Mint has used the program to experiment with different finishes, including burnished and reverse proof.
Congress passed the Gold Bullion Coin Act of 1985 a few months later after being lobbied by the gold mining interests. This law created the American Eagle Gold Bullion Program.
Even more significant was Title II of the Presidential $1 Coin Act of 2005. Title II established the American Buffalo 24-Karat Bullion Gold Coins program. The law required the coins struck from .9999 put gold using the design of the 1913 Type 1 Buffalo Nickel as designed by James Earle Fraser. After the first year of issue, the U.S. Mint could change the design after vetting the design with the Commission of Fine Arts and the Citizens Coinage Advisory Committee. This law allowed the U.S. Mint to produce coins like the 2009 High Relief gold coin and the 100th-anniversary tributes to the Mercury dime in 2016.
2013-W American Buffalo gold reverse proof obverse
After 54 years there are a lot of exciting choices for the modern collector. And this does not consider the collection of errors or varieties, like the three types of 1972 Eisenhower dollars or the wide versus narrow lettering on the reverse of the 1999 Lincoln cent.
It is past the time for the numismatic community to embrace the collection of modern coins more than it has. There may be few modern coins that are worth thousands of dollars, but they are available to capture the interest of potential collectors. After all, how many of us started collecting by searching pocket change.
It has been eight months since I opened my shop of treasures. While I have had fun most of the time one thing that has not happened is a good cash draw find. That is until recently.
This past week, a customer bought a small item and paid for the under $3 purchase with three coins, a 1979-P Susan B Anthony Dollar, two 2000-P Sacagawea dollars. Of course, given the past problems with confusing a Susie B for a quarter, I took an extra glance at the coin to make sure.
1979-P Susan B Anthony Dollar and 2000-P Sacagawea Dollar found in the cash draw
I think the patron was surprised I took the coins without question. I threw the coins in the far left slot and counted out his change. With a quick tear of the receipt and a nod, I thanked the customer for his business and he left.
Later, I was telling someone about the transaction and was told the customer was testing me. Apparently, some people use dollar coins, half dollars and two dollars bills to test the store to see if the store knows enough to take the coins. I was told that the “pass rate” for this test is under 20-percent. I guess I passed!
Earlier today, I passed one of the Sacagawea dollars out for change.
After hours, when it is time to close the books on the day, I was counting the change in the quarter bin and saw something odd. It was the size of a quarter but shinier. The U.S. Mint does not strike circulation coins this shiny. A closer look revealed that it is a 2013 British ten pence coin.
2013 British 10p coin. It looks better in hand!
It’s a cool find and worth 13-cents, but what is it doing in my cash drawer?
I cannot blame anyone because my assistant was not in and I was the only one operating the cash register. I didn’t open a roll taking the blame off the bank. No, this is my fault and I lost 12-cents on the transaction!
I thought I would find a loose Canadian cent or a Jamaican penny mixed in with the copper. Nope! Apparently, I didn’t pay enough attention and was handed 10 pence.
After counting the coins, I replaced the British coin with a U.S. quarter that was in my pocket. My drawer balances but now I have my own lesson to pay attention!
Since U.S. Mint announced the launch of the American Innovation $1 Coin Program there has been nothing but complaints from the community about the coin.
According to the law (Public Law No: 115-97), “The common design on the obverse of each coin issued under this subsection shall contain a likeness of the Statue of Liberty extending to the rim of the coin and large enough to provide a dramatic representation of Liberty.” With the U.S. Mint under a short deadline because of when the bill became law (July 20, 2018), there were a number of disagreements with the Citizens Coinage Advisory Committee regarding the obverse design of the coin. The U.S. Mint tried to modify an old design but the CCAC did not like that. Eventually, the design from Miss Liberty’s left side was used.
It has turned out to be an elegant design that does not duplicate any previous one. She stands on the coin as stately as she stands in New York Harbor, extending from rim to rim as required by law. For once, the CCAC and I agree on a good design.
But that is not enough for some people. The design is too plain.
The reason why the coin appears plain is that two elements that could have been on the obverse, the date and motto “E Pluribus Unum,” are on the edge of the coin.
Edge lettering for the $1 coins began in 2007 with the introduction of the Presidential $1 Program. It was decided to move these elements, along with “In God We Trust” to the edge because the obverse was to include the years of the president’s term. Aside from providing more space for the design, relocating the date would prevent potential confusion as to the date of the coin.
“In God We Trust” was restored to the obverse of the coin in 2009 after striking errors caused the edge of the coin to be blank. This caused overzealous conspiracy theorists and the gullible believing that this was done purposely against the religious communities.
Some argue that since the conditions have changed, the coin should not have edge lettering.
Aesthetically, the obverse design was well executed. It would be how the statue would look if you were standing in Battery Park located at the southern tip of Manhattan, and looked across the water on a clear day. There should be no reason to change the design.
However, there is a problem with the edge lettering in that it makes it difficult to see. As someone who has reached the age where an annual eye exam is a requirement and “corrective lenses” is now a permanent fixture on my driver’s license, having the mintmark on the edge requires me to use magnification to find the mintmark.
As a member of the Baby Boomer generation whose glasses seem to get stronger every year, I would be in favor of moving the date and mintmark to the obverse of the coin. But if the problem is only aesthetics, then I have no problems with having to use a 16x loupe to help identify where the coin was struck.
This week, the U.S. Mint made the most impact in the world of numismatics. first, the U.S. Mint released the first coin in the American Innovation $1 Coin Program. It features a new design of the Statue of Liberty on the obverse, which has not been favorably received. The reverse recognized the first U.S. patent signed by President George Washington.
Patent X1 issued to Samuel Hopkins and signed by President George Washington on July 31, 1790 (USPTO Image)
On July 31, 1790, Samuel Hopkins was granted patent number X00001 for this method “in the making of Pot ash and Pearl ash by a new Apparatus and Process.” In June of this year, the U.S. Patent and Trademark Office (USPTO) issued Patent #10,000,000 based on the current numbering system that began in 1836. According to the USPTO, there were 9,433 patents issued from 1790 through 1835.
The other news from the U.S. Mint was the first strike ceremony for the Apollo 11 50th Anniversary Commemorative Coins at the Philadelphia Mint. Children of the three astronauts who flew on Apollo 11 represented their fathers at the ceremony: Mark Armstrong, Andrew Aldrin, and Ann (Collins) Starr.
Coins will be offered for sale to the public on January 24, 2019. The money raised from this commemorative coin program will benefit the Astronauts Memorial Foundation, the Astronaut Scholarship Foundation and the Smithsonian National Air and Space Museum’s “Destination Moon” gallery.
A pair of 5-ounce silver proof $1 coins struck during the First Strike Ceremony at the U.S. Mint (photo courtesy of collectSPACE.com)
And now the news…
December 10, 2018
Cash use has plummeted in Australia over the last few years but Eric Eigner isn't worried. "People will want to collect something that appears to be more scarce," he says. "I think it's a good thing to a certain extent." → Read more at smh.com.au
December 10, 2018
The patterns on Guangxi commemorative coins reveal special cultural elements and how the region has developed in the past 60 years. → Read more at news.cgtn.com
December 10, 2018
Museum intern Roo Weed ’18.5, a physics major, is using digital solutions to make the College’s rare coin collection more accessible to the public. → Read more at middlebury.edu
December 11, 2018
"> <META PROPERTY= → Read more at miningnewsnorth.com
December 14, 2018
From Alexander the Great to the Byzantium and the Middle Ages until the modern era all periods are covered in an exhibition featuring a rare collection of gold coins. This collection contains coins that are considered to have paved the way for the use of coins in world history and is being staged by the … → Read more at cyprus-mail.com
December 14, 2018
The United States Mint reveals a new coin collection to commemorate the 50th anniversary of the Apollo 11 moon landing. Item includes great video of striking coins in the mint → Read more at myhighplains.com
December 15, 2018
The U.S. Mint has struck its initial coins commemorating the 50th anniversary of the first moon landing. You could say it was one small strike for the Mint, one not-so-giant press for Apollo history. The coins were stamped as part of a "first strike" ceremony. → Read more at collectspace.com
December 15, 2018
The finds are "of great benefit" in helping understand Wales' "unique history", National Museum Wales says. → Read more at bbc.com
Later today, the U.S. Mint will have a ceremony to begin the American Innovation $1 Coin Program. The ceremony is scheduled for 11:30 am at the U.S. Mint’s headquarters at 801 9th Street NW in Washington, D.C.
The American Innovation $1 Coin Program will issue four dollar coins a year in recognition of the significant innovation and pioneering efforts of individuals or groups from each of the 50 States, the District of Columbia, and the United States territories. Coins will be issued in the order that the states entered the union followed by the District of Columbia, Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, and the Northern Mariana Islands.
As allowed by law (Public Law 115-197), the U.S. Mint is producing an introductory coin for the program that will be presented as part of the launch.
The obverse of the coin, which will be featured throughout the series, is a view of the Statue of Liberty in profile. The view of the upper third of her body with the torch extended to the edge of the coin with a plain background gives the image a quiet elegance that is not usual for a U.S. Mint design. It was designed by Justin Kunz of the Artistic Infusion Program with credit to the Citizens Coinage Advisory Committee for pushing the U.S. Mint to come up with something different.
The reverse design of this introductory coin provides hope that the future of this program will not be mired in trite designs. It honors American Innovation by recognizing the first U.S. patent signed by President George Washington that was issued to Samuel Hopkins on July 31, 1790, for developing a process for making potash. The gears representing innovation appears next to Washington’s autograph.
The year, mint mark, and E PLURIBUS UNUM (Out of many, one) will appear on the edge of the coin as it does with all $1 coins since 2007.
Although it is a fantastic design worthy of a collection that includes the Native American Dollar designs, it will have the same impact as all dollar coins issued in the 21st century. It is a coin that will barely circulate and will not grab the attention of the U.S. public without its circulation.
Even though Congress creates these programs and has been told that this program will be a failure because the coins will not circulate alongside the paper dollar, they continue as if nothing is wrong. Even the Government Accounting Office, their own agency that helps with investigations and oversight of the federal government, has recommended eliminating the one-dollar note.
I will collect these coins as I have done for all of the special series introduced in the 21st century. But I will not be as enthusiastic about this series as I should be until something is done to make these coins circulate.
This week’s LOOK BACK is my take at the stir made over the positioning of the edge letters on the newly struck George Washington Dollar coins in 2007.
If you search the online auction sites, you will find less than honest sellers trying to sell variations in the positioning of edge lettering of the new George Washington Dollars errors or varieties. Letters that are pointed up, or the top of the letters towards the obverse, are considered “normal” by these sellers. Letters that are pointed downward, or the top of the letters closer to the reverse of the coin, have been called errors or varieties. They are neither.
Exasperating the issue is that one third-party grading service added a designation to their labels with the orientation of the edge lettering.
According to one third-party grading service, Presidential Dollars With The Tops The
Edge Lettering Facing the Reverse Are Designated As “Position A.”
Those With The Tops Of Their Letters Facing The Obverse Are “Position B.”
An accepted definition of a variety “is any variation in the normal design of a given coin, usually caused by errors in the preparation or maintenance of the coin dies.” They are also errors caused in the striking process. But these definitions do not account for the differences in the orientation. The problem is that after the planchets are struck into coins by the high-speed coining machines, they are mechanically collected and fed into a machine that will press the lettering into the edge of the coins.
The machine that adds the edge lettering uses a three-part collar to impress the incuse lettering does this without regard to position. not only could the edge lettering face any direction, but the lettering can appear at any position along the edge. The U.S. Mint confirms this by saying that because of “the minting process used on the circulating coins, the edge-incused inscription positions will vary with each coin.”
Since the Mint is saying that the process can vary, these variations are normal for the design. Since these are normal variations, they are not numismatic varieties or errors. Thus, the coins with variations of orientation edge lettering are not worth the premiums being sought online. They are worth their face value of $1.
There have been errors found with the edge lettering. The most infamous has been called the “Godless Dollars” for coins missing their edge lettering and the motto “In God We Trust.” Most of these coins were minted in Philadelphia and discovered in Florida. Others have found doubling of edge letters and what looks like breaks in the three-part collars where letters have moved out of place. These are legitimate errors and worth a premium above face value. Orientation variations of the edge lettering are not errors.
If you want to consider these varieties, please save your money and visit your local bank. You can purchase these coins for face value without shipping and handling fees. If you purchase a 25-coin roll, you can spend the coins you do not want since they are legal tender.
The original article can be read here