ANA to hold 2023 WFM in Pittsburgh

According to a source, the American Numismatic Association Board of Governors voted to hold the 2023 World’s Fair of Money in Pittsburgh. As part of the selection, the “ANA will be seeking a better deal from the venue than they got in 2020.” If they do not get a better deal, the source interpreted the discussion that the ANA will look elsewhere.

The vote was 7-2 in favor of the decision. President Steve Ellsworth and Governor Mary Lynn Garrett voted against the measure. Both believe that the show should exclusively be in Rosemont.

I have come out against holding the ANA premiere show in one location. Moving it around the country will help reach more people and include its educational agenda in more places. While I love Chicago and have friends in the Chicagoland area, moving the show is in the best interest of the ANA.

For a hobby that is not seeing growth and is having difficulties with diversity amongst its membership, having a traveling show should be an invitation to potential members.

I am still holding out hope for holding the World’s Fair of Money in Washington, D.C. While there have been roadblocks in the past, the environment for making the District more welcoming to the ANA a possibility. I have a few ideas to welcome minority communities to introduce them to numismatics. It would work well in the Washington community.

With all due respect to Ellsworth and Garrett, you miss out on an opportunity to reach out to potential new members. You have to look beyond your self-interests and work for the good of the association!

Weekly World Numismatic News for June 21, 2020

Welcome to Fabulous Las VegasWhat is likely the first coin show to scheduled since the shutdowns for the COVID-19 pandemic was approved this week. The Vegas Pop Up Coin Show will be held on July 2-5 at the Palace Station Hotel and Casino.

According to the announcement, the show will have only 15 dealers and no more than 25 people staffing dealer tables. The dealers will occupy 24-foot booths to ensure that there is a six-foot distance between people.

Organizers will control the entry to ensure that no more than 50 people are in the room at the same time. All of these measures comply with Nevada’s social distancing regulations.

The organizer appears to have gone to great lengths to organize a coin show and meet the health requirements of the time. If there are any Coin Collectors Blog readers attend this show, I would be happy to post your report. Just contact me with your information.

And now the news…

 June 16, 2020
Kazan Federal University Kazan Federal University, Joint Institute for Nuclear Research (Dubna, Russia), and Khalikov Institute of Archeology (Tatarstan Academy of Sciences, Kazan, Russia) are working together to study the physical properties of the coins found on the territory of former Volga Bulgaria.  → Read more at phys.org

 June 16, 2020
The cashier at WHSmith clears his throat to make sure Diane von Kesmark, 72, can hear him. 'It's hygiene, madam,' he tells her, emphatically. But he is not referring to the transparent plastic shield separating customers from the till, nor the latex gloves he is wearing to handle goods.  → Read more at thisismoney.co.uk

 June 19, 2020
Palace Station is bringing in the Vegas Pop Up Coin Show — an in-person convention that will set up 15 dealers in an area that usually has 80 exhibitors.  → Read more at 8newsnow.com

 June 20, 2020
VILNIUS (Reuters) – Lithuania began minting a collector's coin, dubbed a "coin of hope", on Wednesday to mark the year of the new coronavirus and pay tribute to doctors, nurses and others who helped the country weather the pandemic.  → Read more at news.yahoo.com

 June 20, 2020
“The flow of coins through the economy has gotten all — it’s kind of stopped," Fed Chair Jerome H. Powell said Wednesday. (Mike Blake/Reuters)  → Read more at washingtonpost.com

 June 20, 2020
Gold has been a highly sought after asset in 2020, with the yellow metal rising by more than 15% in the first five months of the year. Now trading at just below AUD 2,500 per ounce, gold has strongly outperformed most traditional assets including shares, property and term deposits, with this outperformance dating back to early 2000s.  → Read more at themarketherald.com.au
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World’s Fair of Money “Suspended,” Should ANA leadership be, too?

The ANA announced today that the 2020 World’s Fair of Money scheduled for August in Pittsburgh has been “Suspended.” The announcement recognized that the “Current State of Pennsylvania guidelines restrict indoor gatherings to a maximum of 250 people at any one time.”

Of course, I noted that almost three weeks ago, but who listens to me.

By suspension, this means that the ANA will scurry around and try to do something. Like the “something” that is planned for the virtual Summar Seminar, it is so much less than what it could be.

For years, I have been pushing for the broadcasting of the events from the show. I have been saying that the use of video can be a great recruiting tool. A few have even suggested doing a virtual bourse. Although I have not advocated one, I think I have an idea as to how to implement this.

All that is needed is the hardware and services to do this.

All that the ANA needed is for the current president to continue the efforts of the past. But that would require a president with an open mind who thought better of the ANA and its members.

The actions taken by the ANA president and Board of Governors show that they are not leaders. Leaders are proactive in the organization’s best interest. If you are reactive, then you are not a leader. Or as it was once said, you are leading from behind.

I wish the ANA was more proactive with the modern needs of a collecting public. As it is said, elections have their consequences. Rather than having the leadership the ANA needs (with all due respect to Joseph de Maistre), the association has the leadership it deserves.

Weekly World Numismatic News for March 8, 2020

Much of the news this week was by media outlets announcing local coin shows.

While the big shows are delightful, local coin shows can be more fun. Smaller shows do not attract the type of crowd that you will see in a larger venue, like a convention center. Fewer people go to these local shows making it a more relaxed atmosphere.

Behind the tables at these shows are local dealers, some who may not be able to afford to set up at national shows. These are your neighbors. They are the ones you can go to for information and help you find that hard to find or intriguing coin.

The relaxed atmosphere of the small show makes it an excellent time to talk with everyone about collecting.

I will try to visit the Whitman Baltimore Expo in two weeks and the World’s Fair of Money in August. Between now and then, you might find me a few local shows in Maryland and Northern Virginia. Go check out a local show. You’ll be glad you did!

And now the news…

 March 3, 2020
Maurice Jackson of Proven and Probable sits down with Andy Schectman, president of Miles Franklin Precious Metals Investments, to talk about ways to invest in precious metals. Maurice Jackson: Today we will discuss the merits of owning government minted coins versus private minted coins.  → Read more at streetwisereports.com

 March 6, 2020
A hoard of coins has been uncovered at a famous temple in southern India. Hundreds of gold coins were unearthed in a pot that could date back over a millennium, to when this area was part of the mighty Chola dynasty .   → Read more at ancient-origins.net

 March 6, 2020
POMEROY — The Meigs County Library in Pomeroy was the venue for a coin show presented by the OH-Kan Coin Club on Saturday which featured Bob Graham’s coin collection and some of his recent photo acquisitions.  → Read more at mydailytribune.com
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 The Health of the Hobby, 2020 (Mar 5, 2020)

 

Weekly World Numismatic Newsletter for March 31, 2019

2019 National Money ShowDid you know there was a big coin show in Pittsburgh?

The National Money Show was held this past week in Pittsburgh with a rousing silence. There was no news. No announcements. Nothing.

It had to be one of the quietest shows in recent memory.

Although I could not attend, I was waiting for something to come across my email to let me know that the numismatic industry is alive, well, and enjoying Pittsburgh.

Pittsburgh is a really nice place. It has shaken off its past as a result of the steel mills closing and has really turned itself around. Its redevelopment was well underway when I attended Carnegie Mellon for graduate school. It has only become better.

Since it is baseball season just two off-topic notes about Pittsburgh. Did you know that the last home plate used for Forbes Field is under glass in the main hall at the Pitt Law School? It’s not the exact location but close enough. Also, behind the Law School is what remains of the left field wall. It was left in tribute to the Bill Mazeroski game-winning home run against the Yankees in the 1960 World Series.

Did someone go to Pittsburgh for the National Money Show? Or did they go out and ride the Duquesne Incline, visit the Strip District, tour the Heinz History Center, or relax in Schenley Park? There are great places to eat on the South Side including at Station Square, but there was a show going on. What happened?

Instead of worrying about whether a kids-oriented set sold by the U.S. Mint is good for the hobby, maybe the hobby has to think about letting the world know that it still exists!

And now the news…

 March 24, 2019

The Royal Mint unveiled its Peter Rabbit 2019 coin recently, with the new designs becoming available only last week. At the time of writing, three different designs of the mischievous Beatrix Potter character had been released.  → Read more at express.co.uk


 March 25, 2019

A commemorative 50p coin to celebrate Brexit has not been minted yet, in what must surely be the ultimate metaphor for Brexit. The coin was announced at last year's Budget, with the Treasury suggesting it would bear the date '29 March 2019' and be available from Brexit day.  → Read more at mirror.co.uk


 March 25, 2019

The single biggest hoard of Celtic coins ever found is now thought to be two separate stashes that were buried together. The Le Câtillon II hoard includes 70,000 gold and silver coins and 11 gold torques, or necklaces, and dates to the First Century AD.  → Read more at dailymail.co.uk


 March 25, 2019

This rare Irish coin could fetch thousands of Euro at an auctionWhyte's A rare Irish 20p coin could fetch up to $6,800 (€6,000) at an upcoming auction in the Dublin. Read More: A guide to valuing all your old Irish coins  → Read more at irishcentral.com


 March 27, 2019

A COIN fan who stabbed a fellow enthusiast to death and stole his collection has been jailed for life. Danny Bostock, 33, broke into Gordon McGhee’s flat and knifed him at least 14 times. SWNS:South West News Service  → Read more at thesun.co.uk


 March 29, 2019

From time to time, legislation gets introduced in Congress to eliminate dollar bills in favor of dollar coins. The lawmakers pushing the legislation always tout it as a way to save the government money.  → Read more at fedsmith.com


 March 30, 2019

KOLKATA: Winds of change are blowing over this 232-year-old church, tucked in one corner of Dalhousie, diagonally opposite Raj Bhavan. St John’s Church, which was the first cathedral the British built in the country and was the only cathedral till St Paul’s was built, is being thrown open to public programmes.  → Read more at timesofindia.indiatimes.com

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Weekly World Numismatic News for August 19, 2018

The world of numismatic news of the week centers around theAmerican Numismatic Association’s World’s Fair of Money that was held in Philadelphia this past week. Here are the top news items from this past week?

    Eliasberg 1913 Liberty Head Nickel (Image courtesy of PCGS

  • The Eliasberg 1913 Liberty Head nickel sold for $4.56 million at the Stack’s Bowers Auction to an undisclosed buyer. The coin graded PR-66 by PCGS is the finest of the five 1913 Liberty Head nickels. It is the highest price ever paid for a coin not struck from a precious metal.
  • 1792 Washington President Gold Eagle Pattern (Image courtesy of NGC)

  • The Unique 1792 Washington President Gold Eagle pattern coin was sold for $1.74 million by Heritage Auctions. The coin, graded XF-45★ by NGC, is from the Eric P. Newman Educational Society collection. Proceeds from the sale will benefit the Society. The coin was acquired by Newman from the Col. E.H.R. Green Collection in 1942. Aside from being one of Newman’s favorite coins, it was also believed to be Washington’s pocket piece.
  • David J. Ryder, Director of the U.S. Mint.

  • Director of the U.S. Mint David Ryder announced that the Mint will introduce a gold coin series promoting the “Virtues of Liberty” starting in 2019. The announcement was given to Coin World who has not published the details of the program. One would think that an agency of the federal government would make this information generally available to the public and not exclusively to one publication.
  • 2019 Frank Church River of No Return Wilderness Quarter (Idaho)

  • The U.S. Mint publicly introduced the designs that will appear on the reverse of the 2019 America the Beautiful Quarters. National treasures being featured in 2019 include Lowell National Historical Park (Massachusetts), American Memorial Park (Northern Mariana Islands), War in the Pacific National Historical Park (Guam), San Antonio Missions National Historical Park (Texas), and the Frank Church River of No Return Wilderness (Idaho).

My report on my time in Philadelphia is coming soon.

And now the news…

 August 13, 2018

Michael Turrini, a memer of the Fairfield Coin Club, holds different types of currency from Africa, Sunday, Aug. 12, 2018. The cowry shells and iron cross are both used as money. (Susan Hiland/Daily Republic) FAIRFIELD — Treasure hunters came out Sunday to find the rare coin, and they brought their  → Read more at dailyrepublic.com


 August 13, 2018

Never miss a story or breaking news alert! Listen at work or while you surf.  → Read more at kywnewsradio.radio.com


 August 15, 2018

The World's Fair of Money is "an opportunity for our members and the general public to see a lot of coins they could never see otherwise […] plus, an opportunity to see some of the largest, most successful [coin] dealers in the country," said Douglas Mudd, Curator and Director of the American Numismatic Association Money Museum. The World's Fair will feature millions of dollars worth of rare coins- coins whose values were once less than a dollar.  → Read more at philly.com


 August 15, 2018

A Navy veteran recalls a sacred tradition for warships.  → Read more at navytimes.com


 August 17, 2018

Rs. 1 coins also hit; rumours about their discontinuation have been doing the rounds for over a year now  → Read more at thehindu.com


 August 17, 2018

The one of a kind George Washington gold coin, dating back to the 18th century, was sold for $1.7 million this week with all the proceeds going to charity, according to Heritage Auctions.  → Read more at kitco.com


 August 17, 2018

https://mma.prnewswire.com/media/730083/1943_Bronze_Cent.jpg?p=facebook  → Read more at prnewswire.com

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If it’s Thursday it must be Philadelphia

Good morning from the Pennsylvania Convention Center in beautiful downtown Philadelphia where the American Numismatic Association World’s Fair of Money is being held. I made to Philly last night after closing shop and will be spending the day here. Tomorrow morning I will be attending the Board of Governors meeting as Chair or the Technology Committee and then will head back to the D.C. area.

First on the agenda this morning is the e-Learning Platform Presentations. For those who do not know, the ANA is looking to expand its educational mission by offering courses online, something that has been on my agenda for many years.

It is an open session in Room 122A of the Convention Center. While it might not be the most exciting of the sessions, it is important to the future of the ANA. The presenter will be Blackboard, D2L, and eINNOV8. I have heard and used Blackboard when I was an adjunct professor with the University of Maryland System. For me, it will be interesting to see what has changed. The others I have never heard of until this exercise. Seeing how they differentiate themselves will makes it interesting.

For the rest of the day, I will be live Tweeting @coinsblog from the Convention Center. I will try to post a summary tonight. Stay tuned!

Weekly World Numismatic News for August 12, 2018

All the news that fits, we print!

Trying to keep up with the news in the numismatic community has been like trying to keep up with the news in Washington. This week it was coming in fast. The bottom line is that next week is the American Numismatic Association’s World’s Fair of Money in Philadelphia.

Based on some of the press releases, here are some of the highlights for those who will be in attendance:

  • The ANA Museum Showcase will feature the finest known 1792 Half Disme, formerly owned by the first United States Mint Director David Rittenhouse and other rarities.
  • PCGS will display the “The J&L 144 Complete Set,” the All-Time Finest set of classic commemorative coins in the PCGS Set Registry
  • The Numismatic Crime Information Center will offer a one-day training class on “Numismatic Crime Investigations” for local, state and federal law enforcement officers.
  • PCGS will also display one of the 1787 gold Brasher Doubloons and seven of the finest known 1780s New York colonial era copper coins in an educational exhibit.
  • The U.S. Mint will display three 1933 Saint Gaudens Double Eagle gold coins including a previously undisclosed specimen that was voluntarily and unconditionally given over to the government by a private citizen who requested to remain anonymous.
  • The finest known 1794 Flowing Hair silver dollar, graded PCGS MS63+ CAC, will be displayed at the Tangible Investments booth.
  • ICTA’s Anti-Counterfeiting Task Force will exhibit a five-case display of counterfeit coins, precious metals bars, and grading holders on special loan from the Cherry Hill, N.J., office of Department of Homeland Security. These items were confiscated during their investigation of Jonathan A. Kirschner, who pleaded guilty impersonating a federal agent while selling counterfeit coins and bars and unlawfully importing counterfeit coins and bars into the United States.
  • The ANA, Numismatic Literary Guild, and others will be presenting their annual awards during the week.

In other words, it will be a jam-packed week for the numismatic junkie.

Too bad the show cannot be live-streamed for those of us who either cannot attend or will only be able to attend for a short period of time.

I will attend the World’s Fair of Money on Thursday and will leave after the ANA Board Meeting on Friday morning. More on this later.

And now the news…

 August 1, 2018

A gold coin from the time of Andronicus II and Andronicus III Paleologus (14th century) has been discovered during archaeological excavations at the Rusokastro Fortress site on Bulgaria’s southern Black Sea coast, the Regional Historical Museum in Bourgas said. → Read more at sofiaglobe.com


 August 3, 2018

Tiny hands fly up, waving pastel green play money in the air as children offer up bids with high-pitched, eager squeals. “I have $6!” → Read more at houstonchronicle.com


 August 5, 2018

Gold nugget discovery deemed museum quality DALLAS – An enormous, 40-ounce gold nugget, nicknamed “Lightning Bolt” for its jolting, bright yellow glow and rarity beyond any diamond found on Earth, could take top lot honors in in Heritage Auctions’ Nature & Science Auction Aug. → Read more at antiquetrader.com


 August 6, 2018

It has been revealed that Lord Ian Stewartby, who resided near Biggar and died in March at the age of 82, left £1.8m worth of his nationally-renowned collection of ancient coins to Glasgow University’s Hunterian Museum. → Read more at carlukegazette.co.uk


 August 7, 2018

It was originally worth five shillings but Australia’s rarest coin, believed to be discovered in a bushranger’s hoard, is on the market and expected to fetch more than $500,000. For the third time in its history, the “Hannibal Head” holey dollar, discovered in Tasmania in 1881, and presented to the Governor of Van Diemen’s Land, Sir John Henry Lefroy, is being sold by Melbourne coin house Coinworks. → Read more at thenewdaily.com.au


 August 9, 2018

More than nine months after they stopped being legal tender, about 169m round £1 coins are outstanding. → Read more at bbc.com

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Why I will not attend Whitman Expo this weekend

Usually, I would have a bit of excitement as the Whitman Baltimore Expo is to be held this weekend. After my previous experiences, not only am I not excited, I am not going.

When Whitman bought the Baltimore Coin and Currency Expo, they did a good job making a destination show on the east coast. It looked like they added some resources and injected new ideas that make a good show better.

But it seems to have plateaued.

For the last few years, if you did not go to this show on Thursday or Friday, the number of dealers staying around has diminished to the point of not being worth attending over the weekend.

If you work or have other conflicts then you might want to consider not wasting your time.

In my case, I have a lot of work to do in setting up a new business. I will be in the shop all morning and will be waiting for someone to deliver some display items in the afternoon. I have to finish setting up by Monday so that the final occupancy inspection can take place—the county wants to ensure that the place is accessible according to the Americans with Disabilities Act (ADA). I cannot open the shop without this inspection completed.

I could take the time to go up on Sunday, but the last time I did that I counted less than 25 dealers. It is not worth the 42-mile one-way trip with the cost of gas going up and the tolls.

And it does not seem that Whitman is trying to improve the situation.

Sure, they added “**Limited Dealers**” to their schedule but that does not warn the visitor that in two or three convention center halls there will be less than 25 dealers.

If I wait until next Saturday I can go to a local show and see more than 25 dealers. It will be a shorter drive, no tolls, and the dealers are closer together so that I will not waste my time crossing empty aisles.

This is really sad because I have always considered this “my show.” My show is dying and I do not know if Whitman really cares!

About negotiating for your collectibles

If you are a collector of anything you know that the price of your collectible is based on both a market valuation and what you are willing to pay. There are a lot of market valuation tools for the numismatic collector. One of the more popular ones is The Coin Dealer Newsletter and associated publications that track market trends.

In 2012, I wrote a two-part series about how coins are priced (see Part I and Part II) where I discussed not only how the coins are priced by the different markets for purchasing coins. Last year I wrote about other venues to buy your coins and then earlier this year I added information about estate auctions. All have their audiences, which expands the buying options.

One important factor I discussed is how to negotiate. In “How Are Coins Priced (Part II),” I wrote about negotiating from the perspective of the collector. At the time, I had just started my collectibles business and did not have the experience from the other side of the negotiation table to understand from their perspective.

I thought about this when I stumbled upon an article in Sports Collectors Digest about negotiating. The author spoke to collectors and dealers about their negotiating styles and conditions for negotiating. While the information about negotiating from the collector’s perspective is not that different than what I originally wrote, the impression from the dealer’s perspective is what I have witnessed.

My experience and the article provides two aspects of negotiating from the dealer’s perspective that I want to highlight here.

First, I want to emphasize the concept of BE POLITE! While most people are polite, there have been times I have wanted to punch a customer in the mouth. While I do not mind a little aggressive negotiating being rude will not make me want to work with you on the price.

Second, understand that you are not only buying an item but selling each collectible comes with a cost. Aside from the cost of the inventory, the dealer has overhead. At a show, the dealer has travel expenses. In a shop, there are expenses with maintaining the store.

Even auctions have expenses. Seller fees can be from 25 to 50-percent of the sale price in many professional auctions. Even eBay charges a final value fee for selling on their site and sometimes there are listing fees. While you might complain about paying more than the postage for the shipping costs, there are labor and material costs for packaging your winning item in addition to the postage.

To highlight the issue, the author spoke with a baseball card dealer who said:

This dealer also wanted another “fact of doing business” relayed to others here. He wasn’t saying the mark-up on his items always came to 100 percent of his original purchase price for those items. Rather, if he buys a card for, say, $50, he has to sell that same card for roughly $100 because within that price would be his other costs (lodging, food, transportation, and so forth). Therefore, when the other expenses are factored in, in reality he may be making just 10 percent profit on that card.

The same thing could be said for numismatics as well.

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