Apr 16, 2007 | coin covers, dollar, grading, US Mint
In a previous entry, I wrote that Numismatic Guarantee Corporation (NGC) would certify US Mint American Presidency $1 Coin Cover Series holders with the designation of “First Day of Mintage.” Like many, I assumed that NGC would remove the coins from the cover and put them into their standard slab. But NGC surprised us and announced a different program that gives the submitter the choice of encasing the coins in the standard NGC holders or have the entire cover sealed in a clear, semi-rigid plastic sleeve. NGC notes that this “allows the U.S. Mint packaging to be preserved while receiving the advantages of an NGC certified grade.”
The holder is reminiscent of the holders that are used by their sister company Paper Money Guarantee (PMG) where the cover will be encased in the sleeve with the label on top. The NGC label will include the year and mint mark of the coins, the name of the president it honors, and the designation “First Day of Mintage.” If the coins do not have the same grade, the grades will be listed separately.
In order to receive the “First Day of Mintage” designation, NGC recommends that the covers be submitted in the Mint wrapping still attached to the cardboard. NGC will not encase damaged or covers that appear to be tampered. NGC will only do this for covers produced by the US Mint. NGC will charge their standard rates for each coin. All minimums, insurance, and shipping fees apply.
Considering that the Mint’s covers do not have any text written inside the envelope or under the flap, the is a very good idea by NGC. The collector can have the experience of the collectible while allowing the coins to be graded by NGC. I probably will not avail myself of this service, but it is one of the better ideas a third-party grading service has had to extend their brand.
Images are from NGC.
Clicking on the image will show the enlarged version.
Apr 15, 2007 | coin covers, coins, gold, medals, policy, US Mint
I was very surprised to learn that the George Washington First Day Covers were sold out at the US Mint. There have been very few sellouts for the 50 State Quarters™ First Day Covers and others, like the Westward Journey Nickel™ First Day Covers, went off sale after the legal sales date expired. I wonder if this is a “first issue” or it will continue for all presidents? Maybe it will only be for popular presidents where Abraham Lincoln would sell out but not Millard Fillmore?
There has been talk of creating fractional American Buffalo 24-Karat Gold Coins but no indication from the Mint that this will happen. The Mint is offering uncirculated American Silver Eagle coins with the “W” mint mark on a subscription basis. I wonder if the expanded product line is too much for the Mint to handle the additional Buffalo gold coins and whether they are trying to protect the American Eagle gold program?
Although I am not a collector of medals, I am amazed at the artwork on the medals produced by the US Mint. While looking at the Mint’s online catalog, I found the new Yosemite Nation Park Centennial Bronze Medal and was just captivated by its design. It seems to capture the grander and beauty of Yosemite. Other medals are just phenomenal in their design. These medals are struck on 90-percent copper and 10-percent zinc blanks in Philadelphia. It may be worth looking into.
On December 14, 2006, the Mint announced a ban on the melting and limited the export of cents and nickels for 120 days (4 months). That period was up on Saturday, April 14, 2007 with no further statement from the Mint. Rumor has it that the Mint will issue a statement continuing the melting ban, raise the individual traveler’s limit from $5 to $25 and the numismatic shipments from $100 to $250. It is speculated that this will be a six month extension of the melting ban.
I would like to end with a non-numismatic review. Last night, my wife and I saw the performance of Titus Andronicus by the Shakespeare Theatre Company of Washington, DC. Titus Andronicus is Shakespeare’s most violent plays depicting the revenge strategies and violence of ancient Rome. It is a powerful play about the misplaced sense of honor some have to authority and tradition and how revenge based on that honor can feed upon itself to the detriment of everyone. It is an interesting commentary on today’s society regardless of your political persuasion. Director Gale Edwards did a fantastic job of bringing this play to the stage with great visuals and heart-pumping music. If you live, work, or visit Washington, DC during its run (until May 20), I highly recommend this play.
Image courtesy of the United States Mint.
Apr 12, 2007 | coin covers, dollar, grading, US Mint
Numismatic Guarantee Corporation (NGC) announced today that they will recognize the Presidential Dollar coins submitted for grading still in US Mint Official American Presidency $1 Coin Cover Series holders as “First Day of Mintage.” NGC said that there will be no date sensitivity requirements but the coins will have to be submitted in the Mint’s shrink wrap for the coins to be eligible for the designation.
NGC will post additional detail to their website on Monday, April 16. Stay tuned.
Apr 6, 2007 | CCAC, dollar, Eagles, errors, US Mint
As I celebrate the start of another year of life on this rock we call Earth, I unbury my head from my work responsibilities to catch up on the news and events of the week. It seems the US Mint has been busy, so let’s get started.
The Mint published a Hot Item consumer advisory discussing the altering of the edge lettering on the George Washington Dollar Coin. Although I discussed this in my posting “NGC Warns About Altered Washington Dollars,” the Mint adds the potential for this being a criminal act. According to the Mint:
Although altering and defacing United States coinage generally is not illegal, doing so violates a Federal criminal statute (18 U.S.C. § 331) when the act is accompanied by an intent to defraud. Accordingly, a person is committing a Federal crime if he or she intentionally alters an ordinary Presidential $1 Coin to make it look like an error coin for the purpose of selling it at a premium to someone who believes it to be a real error coin. Under this statute, it is also a Federal crime to sell at a premium an ordinary Presidential $1 Coin that one knows has been altered so it looks like an error coin to someone who believes it to be a real error coin. Penalties include a fine and up to five years in prison.
The Mint announced that the Secretary of the Treasury appointed thre new members of the Citizens Coinage Advisory Committee (CCAC). The CCAC advises “the Secretary of the Treasury on the themes and designs of all US coins and medals. The CCAC serves as an informed, experienced and impartial resource to the Secretary of the Treasury and represents the interests of American citizens and collectors.” The three appointees are
- Gary Marks, the City Manager of Whitefish, Montana and the Commissioner of the Montana Quarter Design Selection Committee
- Michael Brown, Vice President of Public Affairs for Barrick Gold Corporation and former Special Assistant to US Mint Director Donna Pope from 1981 to 1989
- Reverend Dr. Richard J. Meier, a hobbyist and current Pastor of the Alpine Lutheran Church in Rockford, Illinois.
The Mint also began to take subscription orders for the uncirculated American Silver Eagle coins. These coins will be dated with the “W” mint mark to be sold for collectors. Silver Eagles without the mint mark will continue to be available for the bullion market and sold through dealers. As a reflection of the rise in the price of silver, the 2007-W coins will cost $21.95, up $2 from last year.
Finally, as a celebration of my birthday, I would like my readers to consider joining other numismatists and collectors to promote the hobby. If you are not a member of the American Numismatic Association, take this opportunity to join. If you have access to a local coin club, why not join others in your community. There are national clubs based on your interest, so consider joining them. Finally, if you know of a collector who is not a member, whether they are a young numismatist or otherwise, get them to join. It is fun and will help promote the hobby as it is showing a lot of growth. Just join!
Mar 30, 2007 | coin covers, coins, dollar, US Mint
When it comes to modern collectibles, I am into the “oh, neat!” of collectibles. I collect American Silver Eagles, silver Chinese Pandas, and British Britannias because they are neat! One neat collectible I discovered are First Day Coin Covers sold by the US Mint.
For those who do not collect philatelic items, First Day Covers are envelopes with stamps that are canceled on the first day of issue. Coin covers, also called Philatelic Numismatic Covers (PNC), are covers with coins or medals encased and usually postmarked on the first day of issue of the numismatic item. I have come to learn that PNCs are popular in Europe. The Royal Mint and Royal Mail partner to create wonder PNC collectibles in the United Kingdom.
The Mint has participated in the production of PNCs in the past but did not produce their own products until the 50 State Quarters program. Since 1999, the Mint as produced covers for all special circulated issues including the 50 State Quarters, Sacagawea Dollar, and the Westward Journey nickels. I have collected these covers from the beginning.
I was perusing the Mint’s online catalog to see what products are on the horizon. There, I found that the Mint will be issuing The American Presidency $1 Coin Cover Series. These covers will feature uncirculated Presidential Dollars from the Denver and Philadelphia mints from the first day of manufacturing. The coins will be attached to an envelope that will include a portrait of the President being honored and a paragraph describing his term of office. The envelope will have the prevailing stamp of the day and will be postmarked on the first day of issue in the president’s hometown. The Mint limits the production to 50,000 covers and cost $14.95—a bargain compared with similar offerings from other sources.
As opposed to the First Strikes or Early Releases coins designated by the third-party grading services, the coins included on the cover are from the first day of production for the coins. This makes them true first day of issue coins as guaranteed by the US Mint. This will be another interesting way to collect the new Presidential Dollar coins. I am looking forward to seeing these covers!
Image from the US Mint.
Mar 29, 2007 | medals, US Mint
Numismatics are used by nations to represent history. They honor important people, significant events, and celebrate the principles that guide a nation to a successful history. Those of us who collect legal tender items have seen this in the coinage and currency that marks United States history. One area of this celebration that goes under reported and under appreciated are medals.
Like everything else the US Mint produces, the Mint produces medals as they are legislated by congress and signed by the President. As part of the Mint’s medal programs, they produce medals copies of the official medal for each president as well as the Secretaries of the Treasury and Directors of the US Mint. Other medals the Mint is requested to produce are copies of the special medals that are awarded by congress to citizens for their extraordinary service to the nation.
Today, March 29, congress will honor the Tuskegee Airmen with the Congressional Gold Medal. Formed in 1942, the Tuskegee Airmen were African-American fighter pilots who the Army Air Corps considered “not intelligent enough” to be fighter pilots. These brave men went onto fight in successful campaigns against the Axis powers in the skies over Europe. They went on to dispel the racist preconceptions of the military that lead to General Dwight Eisenhower to integrate the armed forces.
Although it has been more than 60 years since their heroism, it is appropriate that these heroes are honored with the country’s highest award. A ceremony will be held today in the Capital Rotunda to award the Tuskegee Airmen with the specially designed medal. President George W. Bush and former Secretary of State Colin L. Powell, a 1991 medal recipient, will deliver speeches at the event.
This award was authorized under Public Law 109-213 (GPO: [text]/[PDF]). It also specifies that a bronze version of the medal be offered for sale to the public. As of noon today, the Mint is offering bronze 3-inch and 1½-inch versions of the medal that will be awarded today. It is a beautiful medal and a wonderful tribute to real heroes.
Image from the US Mint
Mar 22, 2007 | coins, dollar, errors, US Mint
The US Mint announced the availability of Sacagawea Dollars this week. Under the provisions of the Presidential $1 Coin Act (GPO: [text]/[pdf]), the Mint has to produce one Sacagawea Dollar for every three Presidential Dollars struck. Since the Mint is scheduled to produce 300 million George Washington Dollars, they are required to strike 100 million Sacagawea Dollars to be in compliance with the law. According to the Mint, the 2007 Sacagawea Dollars will benefit from the improved processes developed for the Presidential Dollar Program including shinier surfaces and a treatment to prevent the unusual toning of the past.
Although the Glenna Goodacre design is one of the Mint’s best in recent memories, the coin has not gained popularity with the public. As long as the Bureau of Engraving and Printing continues to print one-dollar Federal Reserve Notes, one-dollar coinage will not be popular. The only significant circulation of these coins was in the year 2000, its first year of issue. That year, the Mint struck 1.2 billion coins which are reportedly still being warehoused by the Mint and the various Federal Reserve banks.
The proliferation of edge lettering errors has prompted a lot of discussion in the numismatic industry. Professional Coin Grading Service (PCGS) has joined the fray and announced rewards for finding specific types of errors caused by the edge lettering. Recently, PCGS awarded $2,500 to a Colorado collector who found a Presidential Dollar blank planchet with edge lettering.
Since the Sacagawea Dollar is struck on the same planchets, presses, and post finishing process as the Presidential Dollar without the edge lettering, there is speculation that some may appear with edge lettering. While some insist this type of error is highly unlikely because the edge lettering is a separate process, PCGS is offering a $10,000 reward for being able to certify a genuine Sacagawea Dollar with edge lettering of a Presidential Dollar.
If you find a Sacagawea Dollar with edge lettering, contact me through this blog. I would love to be first to report the find and post pictures.
Mar 13, 2007 | ANA, coins, Eagles, US Mint
Before I leave for the Queen City of the Carolinas, I wanted to first let my readers know that the US Mint announced that the American Silver Eagle Proof coins will go on sale at noon on March 27. This beautiful one-ounce silver coin, featuring the Walking Liberty design by Adolf A. Weinman, will be sold for $29.95.
Other than that, I am off to Charlotte. I will have a report when I return. Have a good weekend.
Mar 9, 2007 | coins, dollar, errors, US Mint
A March 7, 2007 press release issued by the US Mint recognized “that an unspecified quantity of [George Washington Dollar] coins inadvertently left the United States Mint at Philadelphia without edge-lettering on them.” Calling it a quality control issue, the Mint said that they are “looking into the matter to determine a possible cause in the manufacturing process.”
Unfortunately, there are media abusers whose knee-jerk reaction was to call this a way to “remove God from our coins.” This could be the furthest from the truth and readers are advised to consider the source before trusting any information these smear merchants may pronounce.
Feb 17, 2007 | coins, dollar, US Mint
After my local club’s meeting was canceled because of the ice storm that hit the area, I was looking for a little numismatic fun. I started to look forward to the release of new George Washington dollar coins. As I thought about it, I remembered that NGC announced that they would slab new dollar coins with the designation of “FIRST DAY OF ISSUE” if the coins are received on Friday, February 16. So I thought… I am in the Washington, DC area, I should be able to find at least one roll—if not from a bank, I can visit the US Mint’s headquarters in downtown Washington.
Rather than sit in my office going over my current work assignment over lunch, I grabbed a sandwich and left the office to hunt for coins. After visiting two banks that are local to my office, I made the decision to drive downtown. I had no afternoon meetings and I could make up the work from home later that evening. After all, if anyone had the coins it would be the Mint… so I thought.
I made the turn southbound on 9th Street NW noticing that parking was particularly difficult because of the piled snow and ice on the side of the road. With the snow and ice in the way, there was no parking near the Mint’s offices. After circling the block a few times, I double parked in front of the offices.
After shlepping downtown, double parking, and stumbling across the iced road and sidewalk, I walk into the lobby of the Mint’s headquarters to purchase rolls from the sales counter. It was there I was told that rolls would not be available for another week at the US Mint’s sales counter!
I was shocked! I do have work to do, but I decided that wanted NGC’s “FIRST DAY OF ISSUE” designation for some coins. So I decided to go to Union Station. That is a high traffic area, they should have rolls. After negotiating daytime Washington traffic while congress is in session, I park at Union Station to navigate the maze of escalators, and find that the kiosk in Union Station had NO ROLLS! The woman at the counter was very nice and explained that the shipping was delayed because of the weather—which was predicted three days before it arrived. I was offered ONE coin, which was her limit.
Still not satisfied, I returned to the Mint’s headquarters where they have change machines in the lobby that dispenses uncirculated coins. There is a machine for the Sacagawea Dollar, the current state quarter, and a new machine for the Presidential $1 coin. I shoved as much money as I could in the machines to buy Washington Dollars. Since the kisok could not provide change of twenty dollars, I was able to buy 25 coins with the fives and singles in my pocket—14 from Denver, 11 from Philadelphia. I made it to the post office on time to send the coins to NGC via Express Mail.
During one minute visits to both of the kiosks, there were people visiting asking for rolls. While feeding the change machine in the Mint’s lobby, three people queued up behind me. If this was a representative demand on the first day, it would have been in the Mint’s best interest to have supplied their Washington-area kiosks with rolls. Instead, the Mint went with a marketing scheme that ignored the potential demand in their “home town.” Even the Mint’s director left the city for a launch event at Grand Central Terminal in New York City. If they cannot satisfy those interested where they have facilities, then how do they think they are going make this a success with the average consumer nationwide?
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