May 28, 2021 | dollar, nclt, news, US Mint
The U.S. Mint posted the following on its Facebook page at 11:30 PM on Thursday, May 27, 2021:
For those who do not access Facebook, the following is the complete text of the announcement:
The United States Mint is committed to providing the best possible online experience to its customers. The global silver shortage has driven demand for many of our bullion and numismatic products to record heights. This level of demand is felt most acutely by the Mint during the initial product release of numismatic items. Most recently in the pre-order window for 2021 Morgan Dollar with Carson City privy mark (21XC) and New Orleans privy mark (21XD), the extraordinary volume of web traffic caused significant numbers of Mint customers to experience website anomalies that resulted in their inability to complete transactions.
In the interest of properly rectifying the situation, the Mint is postponing the pre-order windows for the remaining 2021 Morgan and Peace silver dollars that were originally scheduled for June 1 (Morgan Dollars struck at Denver (21XG) and San Francisco (21XF)) and June 7 (Morgan Dollar struck at Philadelphia (21XE) and the Peace Dollar (21XH)). While inconvenient to many, this deliberate delay will give the Mint the time necessary to obtain web traffic management tools to enhance the user experience. As the demand for silver remains greater than the supply, the reality is such that not everyone will be able to purchase a coin. However, we are confident that during the postponement, we will be able to greatly improve on our ability to deliver the utmost positive U.S. Mint experience that our customers deserve. We will announce revised pre-order launch dates as soon as possible.
Sources reported that unhappy collectors “besieged” the U.S. Mint with email and telephone calls following their latest ordering fiasco. The sources also said that the offices of several members of congress contacted the U.S. Mint after hearing from their constituents.
One source said that collectors contacted the Treasury Office of Inspector General (OIG) and prompted them to question U.S. Mint management on the problems. I have not been able to confirm this story.
In short, it was the action by angry collectors that made the U.S. Mint stop and rethink its sales policies. It was you, the collector, who called Congress, made waves, and forced the U.S. Mint to listen.
Too bad ANA leadership did not take a leadership role on behalf of the hobby.
If you like what you read, share, and show your support 
May 24, 2021 | commentary, news
Your humble blogger in front of The Arch at the University of Georgia. The last time I was there I had hair!
This past week, I had to make a trip to Georgia for business. The trip required a flight from Baltimore to Atlanta. Travelers must follow TSA and the FAA rules for safety, including masks in the airport and on planes.
Unfortunately, the wearing of masks became a political issue. It’s not. It’s a mask. The idea of the mask is to protect you and to protect others. Masks are an inexpensive tool to reduce the spread of the virus. Nothing else!
During this trip, I learned the difference in attitudes with different people in Baltimore and Georgia. While at BWI Airport, the less than the capacity crowd was very diligent with their masks. Very few people were leaving noses uncovered, and one person politely asked me to replace my mask after taking a sip from my water bottle. It was a sense of community caring, not punitive.
Hartsfield-Jackson Airport was a different story. The number of people prevented moderate social distancing. Everyone packed into the transport trains, and the mask-wearing varied from covering the chin to uncovering the nose.
Arriving in Athens, Georgia, home of my alma mater, the University of Georgia, the scene was different. Walking the streets and the time I spent on campus, you can tell the difference between the students and everyone else. The students were wearing masks and keeping distances. Students working in local businesses were more diligent than the parents that were in town for commencements.
I had the opportunity to discuss the situation with some of the students. They relayed stories about how the students did not take the pandemic seriously until it spread on campus.
The problems are not with the students and those concerned about public health. The problems are with those who see masks as a conspiracy. Many numismatic dealers have indicated they are on the side of the conspiracy theorists.
The attitude of these dealers, mostly older and obstinant, can turn the re-opening of the hobby into a disaster.
The World’s Fair of Money will be limited to 300 tables to comply with Illinois Health Department rules. Currently, there has been no announcement regarding attendance limited. Given the attitudes of the anti-maskers, especially amongst the dealer population, I am afraid that the World’s Fair of Money will become a super spreader event.
You might want to question my assertion because of the presence of the vaccines. While the vaccines provide immunity against the SARS-CoV-2 virus that has plagued the United States for more than a year, combating the variants is uncertain. Research has shown that the vaccines will fight some of the variants, but not all of them.
As people travel, the variants will spread with the people that will carry them. The only way to prevent the variants from ruining the re-opening is to get serious about wearing masks.
Yes, wearing masks suck. As someone with allergy and respiratory issues, wearing a mask is very uncomfortable. During the workday, I will take my dog for a walk when I need to take off my mask. I know that for a year or two discomfort, we can re-open society and hold shows again.
We need to come together as a community and be leaders for the country. Numismatics has the chance to lead. By leading and acting as we care for one another, we can look like heroes to the rest of the world and possibly attract new members.
Care for your fellow numismatist and potential new numismatists. Wear a mask!
And now the news…
May 19, 2021
Coins celebrating the writer and poet Maya Angelou, left, and the astronaut Sally Ride will be issued next year as part of the U.S. Mint’s American Women Quarters Program.United States Mint
→ Read more at
nytimes.com
May 20, 2021
A silver coin found in Maryland after almost 400 years provided a big clue for archaeologists searching for St. Mary's Fort — one of the earliest English settlements in the New World. The coin, a silver shilling with a portrait of King Charles I, was created by the royal mint in the Tower of London back in England at around the time the fort was settled in 1634, according to Travis Parno, the director of research and collections at the Historic St.
→ Read more at
cnn.com
May 21, 2021
WITH most of us spending more time at home, you want may to dig through your spare change for rare and valuable coins. If you spot one of the top six, then you could end up making a tidy profit, as they're worth up to $10,633 each.
→ Read more at
the-sun.com
If you like what you read, share, and show your support
May 16, 2021 | coins, markets, news, silver
It has been a long 16-months. During that time, a virus caused a worldwide pandemic still being felt in much of the world. Thanks to science and the government removing barriers that slow the development process, the pharmaceutical industry found vaccines to reduce infection rates.
The increase in vaccinations and the reduction of infections has government easing restrictions that shut down the country for three months in 2020. As the restrictions ease, coin shows are appearing. Small shows have been running for a few months, but last week, the ANA announced the World’s Fair of Money would go on.
Over the last six months, hobby and other spending have dramatically increased. The demand for goods has outpaced the supply. Big-ticket items like housing and vehicles are experiencing low inventories as people leave their homes and spend money. I regularly pass a few used car lots on my way to work, and their inventory is the lowest I have seen.
Numismatics is also seeing a surge. Even though analysts note that lower sales of bullion coins from last year, the demand for collector coins has caused prices to skyrocket. Services that monitor online markets say that the 2021-W American Silver Eagle Proof coin price is averaging $140-160 or 100-percent over their issue price.
Because silver is in high demand, dealers are charging high premiums over the spot price and sellout out of their inventory. When I recently looked at buying circulated coins whose value is tied to the silver spot price, the premiums were the highest that I have seen.
It has been a long time since silver coins were this popular. There is no telling how high this market will go with the expanding market for non-circulated legal tender (NCLT) and bullion coins drawing people into collecting.
And now the news…
May 10, 2021
What do ancient coins tell us about the Omer period and the time of the Bar-Kochba revolt, when the 49 days between Passover and Shavuot became associated with death and mourning? According to the Bible, the seven weeks between the two holidays referred to as ‘omer’ – a unit of measure which was used to quantify the amount of produce to offer as a sacrifice to God – was not meant to carry any specific connotation other than its agricultural meaning.
→ Read more at
jpost.com
May 11, 2021
An early pandemic problem that plagued businesses is back: not enough change to go around. Why it matters: The pandemic broke America's coin flow. It has repercussions for millions that rely on it for daily transactions.
→ Read more at
axios.com
May 13, 2021
If you like what you read, share, and show your support
May 9, 2021 | news
Do you know what happens if the blogger does not press the button that says “Publish?” The post does not get published to the site. This week’s delay was because I forgot to press the button. Sorry!
There were two other news items that collectors should be aware. Last week, the ANA held an online Candidates Forum. Only one of the candidates did not attend.
The forum demonstrated two types of candidates: the status quo and those who want to do something. The status quo candidates refused to think outside of the proverbial box and look to continue using the same methods that have not advanced the ANA beyond its current state. The others have different ideas to move the ANA forward.
Few of the candidates have ideas discussed in the past but taking advantage of the current climate. These are the candidates that need to be elected to the ANA Board of Governors. A full review of the Candidates Form is forthcoming.
Another bit of news was a May 4 conference call by the U.S. Mint with members of the media. Even though I asked questions they answered during that conference call the previous week, I was not invited to participate. There are additional questions that the U.S. Mint did not address, which I sent via email. The U.S. Mint has not answered those questions.
I will wait a few days for the U.S. Mint to answer my questions before explaining how they do not care about the collectors and what I suggest the community can do to correct their behavior.
And now the news…
May 2, 2021
A silver English shilling found during a dig in St. Mary’s, Md., is more proof that archaeologists have pinpointed the correct location of an old fort.
→ Read more at
washingtonpost.com
May 4, 2021
Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!
→ Read more at
kitco.com
May 4, 2021
When heavy metal guitarist Ed Fuhrman hits the road, one of his priorities is seeking out a local collector’s shop. Is he looking for a vintage guitar or a hard-to-find record? No.
→ Read more at
northjersey.com
May 6, 2021
How did people living in the Bronze Age manage their finances before money became widespread? Researchers from the Universities of Göttingen and Rome have discovered that bronze scrap found in hoards in Europe circulated as a currency.
→ Read more at
sciencedaily.com
May 7, 2021
An 1804 silver dollar is expected to sell for US$7 million at auction in August. Stack’s Bowers Galleries
→ Read more at
barrons.com
If you like what you read, share, and show your support
May 6, 2021 | ANA, news
Two days after questioning whether the ANA will have to cancel the World’s Fair of Money this year, they issued a statement saying that the Donald E. Stephens Convention Center in Rosemont, Illinois, will be open for shows.
The ANA press release said that the show would be limited to 300 dealer tables to configured the bourse floor to allow for social distancing. Those attending the show will be asked to maintain social distancing, and masks will be required.
Currently, there are no indications as to whether there will be capacity limits.
I am sure the ANA will do what it can to make the show safe. I encourage you to assess your risks and make an informed decision as to whether you will attend.
Admittedly, I may be more paranoid than many people. Having lost two family members to COVID-19, a long-time friend, and seeing a few others who have had long-haul health issues, I may wait until the last moment before making my decision. My original plans were to attend the last two days of The National (National Sports Collectors Convention) and stay for the World’s Fair of Money. I will skip The National this year and decide whether I go to the World’s Fair of Money by July.
If you like what you read, share and show your support
May 2, 2021 | ANA, coins, news
One bit of news that did not make the numismatic press is that the Coin Collectors Blog sponsored 36 news memberships to the American Numismatic Association. All 36 new members will begin to have access to the ANA, the Numismatist, submit coins to NGC, check out books from the library (oops… I have a few books I have to return), and attend the World’s Fair of Money without having to pay an entrance fee.
I thought it was important to sponsor new memberships to the ANA to bring in new members, especially those with diverse backgrounds and ideas. All the new members should let us know how they collect.
The ANA must evolve to the new environment. The ANA was caught flat-footed when the pandemic changed the environment. Even though the headquarters staff did their best with the resources provided, it was clear that the leadership lacked the imagination to do better.
New members can help. You can tell the ANA what they can do to help make your collecting experience more valuable. You can contact the Board of Governors directly or tell me. I will publish the ideas on this blog. Together, we can make the ANA a better organization.
To the 36 new members: WELCOME!
And now the news…
April 26, 2021
DALLAS, TEXAS – The first dollar coin struck at the fledgling US Mint in 1794, an experiment in copper that would become the pattern for more valuable silver versions minted later, sold for $840,000 at Heritage Auctions Friday, April 23.
→ Read more at
antiquesandthearts.com
April 28, 2021
It may have been the greatest heist of all time, and it took place on the high seas. The royal ship Ganj-iSawai, property of Indian emperor Aurangzeb, had set sail from the port of Mocha on the Red Sea bound for Surat, India.
→ Read more at
theday.com
April 28, 2021
Jersey Heritage Hundreds of coins and 35 pieces of jewellery are among the Le Câtillon I hoard which have been bought
→ Read more at
bbc.com
April 28, 2021
It may have been the greatest heist of all time, and it took place on the high seas. The royal ship Ganj-iSawai, property of Indian emperor Aurangzeb, had set sail from the port of Mocha on the Red Sea bound for Surat, India.
→ Read more at
theday.com
April 29, 2021
A picture made available on 29 April 2016 shows one of 19 Roman amphoras discovered in the town of Tomares, near Seville (EPA Photo)
→ Read more at
dailysabah.com
If you like what you read, share, and show your support
Apr 12, 2021 | coins, gold, news
Some can make an argument to call the Farouk-Fenton 1933 Saint-Gaudens Gold $20 Double Eagle coin the most famous coin in the world. Although other coins have surpassed it in price since Stuart Weitzman purchased it in 2002, its legend lives beyond any other coin.
The story of the coin spans families, generations, continents, court cases, and was almost destroyed in the World Trade Center on September 11, 2001. Its story was told in two excellent books and the revealing of the coin’s current owner made international headlines.
Now, the world’s most famous coin has been certified, graded, but not entombed in plastic. Sotheby’s requested the grading and certification for the coin and asked that the coin not be slabbed. PCGS graded the coin and provided an image certification. They also announced that the new owner could submit the coin for holdering after the auction.
Although certification is necessary for some coins in this day of counterfeits, there are some coins whose importance goes beyond the need to entomb them in plastic away from the world. The last legal tender gold coin from the time Franklin D. Roosevelt withdrew gold from the market is one of those coins.
There have been other famous coins displayed in slabs that give them a lonely feel. Looking at any of the five 1913 Liberty Head Nickels makes it seem like it’s trapped instead of proudly standing, showing off its fascinating story. The same fate awaits the 1933 Double Eagle should its next owner decide the plastic is more important than the coin.
For the sake of allowing the legend to live, I hope the next owner decides not to hide this coin in plastic and allows the world to celebrate its story and beauty.
And now the news…
April 5, 2021
A magnified view of corrosion on one of the medieval Islamic coins being examined and restored by the Louvre Abu Dhabi.Department of Culture and Tourism – Abu Dhabi In a newly acquired cache of more than 2,800 coins dating to Islam’s medieval era, the Louvre Abu Dhabi not only has a bounty for its permanent collection, but also signposts on the road map of early Islam, all coated in tarnish, corrosion and the mystery of history.
→ Read more at
nytimes.com
April 6, 2021
A 17th-century Arabian coin discovered by Jim Bailey. Courtesy of the American Numismatic Society via Flickr.
→ Read more at
news.artnet.com
April 7, 2021
This gold "Memento Mori" ring, dating to the Tudor period, sports an enamel skull.
→ Read more at
livescience.com
April 9, 2021
If the infamous rum-soaked Jack Sparrow of Pirates of the Caribbean dropped some of his pocket change while drunkenly dancing around when he was supposed to be pillaging and plundering, what would you expect to find 325 years later?
→ Read more at
syfy.com
If you like what you read, share, and show your support
Apr 4, 2021 | coins, news, quarter
In a few days, the U.S. Mint will release the last of the five-ounce silver America the Beautiful Quarters. The ATB series was a follow-up to the 50 State Quarter Program to honor the nation’s national parks and forests. The order of the program was determined by the date the area became a national park or forest.
The Tuskegee Airman National Historic Site in Tuskegee, Alabama, became a registered historic site on November 6, 1998. Formerly Morton Field, the site was the Tuskegee Airmen’s base and training center, the only African-American division of the U.S. Army Air Corps during World War II.
The end of the ATB quarters also ends the corresponding five-ounce hockey puck-sized bullion coin issues. The big coins are popular with investors and some collectors.
Now that the ATB quarters program has ended, a reverse celebrating George Washington’s crossing the Delaware River will replace the reverse for the rest of 2021. In 2022, the quarters will feature prominent women in United States history. The program will last until 2026, when the quarters’ design will celebrate the American Semisesquincentenial (250 years).
And the law that extended the circulating commemorative programs also includes the provisions for the U.S. Mint to create five-ounce silver hockey puck-sized coins from almost any program.
And now the news…
March 29, 2021
In the midst of one of the most comprehensive conservation projects currently taking place in Israel, archeologists in Jerusalem’s Old City discovered a Tyre coin, believed to have been used to pay the Temple tax by pilgrims making their way to the Temple for Passover, Shavuot or Sukkot.
→ Read more at
jpost.com
March 31, 2021
Indigenous men and women who have served in the military have been commemorated through Australia’s newest circulating $2 coin launched by the Royal Australian Mint yesterday, 30 March.
→ Read more at
canberraweekly.com.au
April 2, 2021
A 17th century Arabian silver coin, top, that research shows was struck in 1693 in Yemen, rests above a 1652 Massachusetts Bay Colony Oak Tree Shilling , and a 1727 Spanish half real coin, on a table, in Warwick, Rhode Island, March 11, 2021.
→ Read more at
voanews.com
April 2, 2021
Gold coins cast a spell. The pile of coins found in a wall in Caesarea and now displayed in a glass case at the Israel Museum in Jerusalem begs questions.
→ Read more at
haaretz.com
April 3, 2021
This Is Why The Police Are Involved In Every Pawn Stars Transaction
→ Read more at
looper.com
If you like what you read, share, and show your support
Apr 2, 2021 | coins, legislative, news
Every month we look at the numismatic legislation that Congress worked on the previous month. Since the 117th Congress is only three months into its first session, most of the legislative action is introducing bills.
Nowadays, Congress members do not have to drop their papers into the hopper in their respective chambers. Bills are submitted electronically. To prove that they are doing something, these legislators also post the bill on their official websites. Inevitably, an intern or low-level staffer makes a mistake that gets misinterpreted by the press, making it sound like a bill has been passed. According to the Government Printing Office, there has been no numismatic-related bill that has made it past its committee assignment.
A few days ago, Rep. Alexander Mooney (R-WV) introduced H.R. 2285, a bill “To amend the Internal Revenue Code of 1986 to clarify that gain or loss on the sale or exchange of certain coins or bullion is exempt from recognition.” Although this bill’s text has yet to be published, the title suggests that it will make the sale of coins and bullion exempt from capital gains taxes.
Currently, collectors who sell items from their collections are required to pay capital gains taxes on the profit from the sale of their coins. If you bought a coin for $100,000 then sell it for $150,000, the capital gains tax is applied to the $50,000 profit. Under the 2020 rate schedule, that is a 0% tax, except if you bought the coin within the last year, it is taxed as part of your regular income. But if you bought the coin for $50,000 before 2020 and sold it for $150,000 in 2020, then the $100,000 profit is taxed at 15%.
Are you confused? This is why the potential of eliminating the capital gains tax on coins and bullion will help the industry.
Here is the list of the eight bills introduced in March 2021.
H.R. 1648: To require the Secretary of the Treasury to mint coins in recognition and celebration of the National Women’s Hall of Fame.
Introduced in House — Mar 8, 2021
Referred to the House Committee on Financial Services. — Mar 8, 2021
S. 672: A bill to amend title 31, United States Code, to save Federal funds by authorizing changes to the composition of circulating coins, and for other purposes.
Introduced in Senate — Mar 10, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. — Mar 10, 2021
H.R. 1842: To require the Secretary of the Treasury to mint commemorative coins in recognition of the Bicentennial of Harriet Tubman’s birth.
Introduced in House — Mar 11, 2021
Referred to the House Committee on Financial Services. — Mar 11, 2021
H.R. 1789: To amend title 31, United States Code, to save Federal funds by authorizing changes to the composition of circulating coins, and for other purposes.
Introduced in House — Mar 11, 2021
Referred to the Committee on Financial Services, and in addition to the Committees on the Budget, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. — Mar 11, 2021
S. 697: A bill to require the Secretary of the Treasury to mint commemorative coins in recognition of the Bicentennial of Harriet Tubman’s birth.
Introduced in Senate — Mar 11, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. — Mar 11, 2021
H.R. 1900: To require the Secretary of the Treasury to mint coins in commemoration of the health care professionals, first responders, scientists, researchers, all essential workers, and individuals who provided care and services during the coronavirus pandemic.
Introduced in House — Mar 16, 2021
Referred to the House Committee on Financial Services. — Mar 16, 2021
S. 867: A bill to require the Secretary of the Treasury to mint coins in recognition and celebration of the National Women’s Hall of Fame.
Introduced in Senate — Mar 18, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. — Mar 18, 2021
H.R. 2284: To amend the Internal Revenue Code of 1986 to clarify that gain or loss on the sale or exchange of certain coins or bullion is exempt from recognition.
Introduced in House — Mar 29, 2021
Referred to the House Committee on Ways and Means. — Mar 29, 2021
If you like what you read, share, and show your support
Mar 28, 2021 | coins, news
What is the price of a coin?
There are many answers to that question. Some will point to price guides. Others will argue that one price guide is better than others. Then some people will deliver a dissertation about supply and demand and the commodity price of the metals to explain their answer.
The price of a coin is whatever the price one person will pay.
In an auction, people will bid until the price exceeds what all but one participant will pay.
This past week, Heritage Auctions sold a 1935 George V silver Pattern “Waitangi” Crown sold for $72,000, a New Zealand coin record.
In Las Vegas, Stack’s Bowers Galleries sold the only privately owned 1822 Half Eagle for $8.4 million. The other two examples are in the Smithsonian Museum. It is the second-highest amount ever paid for a U.S. coin.
These sales come the week after a George VIII Gold Crown sold for £1 million, a record price for a British coin.
Back down to earth, those who were shut out of the 2010-W American Silver Eagle sale are finding the secondary market selling these coins for upward of $150, double their sale price. Collectors trying to maintain complete collections are paying these markups.
Over a year after the coronavirus pandemic shut down the country, there seems to pent-up demand by collectors. All types of numismatic auctions, except scripophily, are experiencing extraordinary realized prices from auctions.
The strong demand is bringing people out of the woodwork trying to cash in. Major auction houses are lowering their commission to attract new sellers of high-end merchandise. Medium-sized auction houses have been contacting collectors looking to sell smaller collections usually left to estate and liquidation auction services.
Collectors are paying higher prices for coins. A recent liquidation auction, an ungraded 1880-CC Morgan Dollar with many problems, including questionable toning, may be worth about $100 according to the price guides. The coin sold for over $200 with buyer’s premium.
If this is how the market is reacting while contact continues to be limited, imagine how it will be when everything is fully open for business.
And now the news…
March 22, 2021
By Rajiv Shah Gujarat’s top Dalit rights organisation, Navsarjan Trust, is all set to initiate a unique campaign under which families from different parts of the country will contribute a brass article or a utensil — all of it will be melted and minted into a 1111 milligram diameter coin with the question engraved on it: Will the 1947 dream of untouchability-free India be reality yin 2047?
→ Read more at
counterview.net
March 22, 2021
Are you a fan of United States coins? Perhaps you are also interested in creating a long-term investment opportunity.
→ Read more at
azbigmedia.com
March 25, 2021
A 19th century coin sold for $8.4 million Thursday at a Las Vegas auction, becoming the most valuable U.S. Mint gold coin ever auctioned. The 1822 half eagle, a $5 coin with only three copies in existence, was sold at the Stack’s Bowers Galleries Las Vegas Auction.
→ Read more at
reviewjournal.com
March 26, 2021
Neil Mahrer, Scott Miles, Richard Miles, Olga Finch, Reg Mead. Picture:DAVID FERGUSON.
→ Read more at
jerseyeveningpost.com
March 27, 2021
This 1935 Pattern Crown coin is a record-breaker. Photo / Supplied
→ Read more at
nzherald.co.nz
March 27, 2021
Ceuta Coin Find Dates Back To 7th Century. image: twitter Ceuta Coin Discovery Dates Right Back To The Byzantine Era Between 602 and 610 AD
→ Read more at
euroweeklynews.com
March 28, 2021
When I turned twenty-one, my father gifted me twenty-one silver dollars, which his father had given to him when he was the same age. Most are from the early 1900s, and one is even from the late 1800s.
→ Read more at
americanlifestylemag.com
If you like what you read, share, and show your support
Loading ...