Boscastle Coin Collecting News

Rare coin fills gap in Gloucester's England history

2012-02-18T10:08:00.000-08:00

A RARE coin dating back to before the Domesday Book has "filled a gap" in Gloucester's history after being discovered near the city.

According to experts, the find of a penny from the rule of William the Conqueror proves the Gloucester Mint was active during a part of history previously unexplored.

Kurt Adams, finds liaison officer for the Portable Antiquities Scheme, based at Shire Hall, said it was an exciting development.

He said: "It's a unique find.

"During the rule of William I they were re-minting these coins regularly, every three to four years, and this particular coin dates from the period between 1077 and 1080.

"We haven't got any record of ever finding this coin before, and what this does mean is that there was a gap in the history, but now we have got proof that the Gloucester Mint was operating throughout the rule of William I."

The coin was found in an area in the north of the city by Maureen Jones, a member of the Taynton Metal Detecting Club.

David Hutton, from the club, described it as an "important" and "unique" find.

He said: "It is very exciting."

William I, or "William the Conqueror", was the first Norman King of England from 1066 until 1087.

He came to power after he led an invasion of England from his native France in 1066.

The crowned King of England, Harold II, was killed during the famous Battle of Hastings, where he became the first of only three monarchs to ever die on the battlefield.

Experts say the coin would have been "quite valuable" at the time when it was lost by its owner. It is due to be returned to Ms Jones.

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Source: http://www.thisisgloucestershire.co.uk/Rare-coin-fills-gap-Gloucester-s-history/story-15254747-detail/story.html

Unique, Early American Brasher Doubloon Gold Coin Sold for Record Price by Steven L. Contursi

2011-12-19T13:36:00.000-08:00

The legendary Brasher Doubloon, made in 1787 by George Washington's New York City neighbor, has been sold for a record price by Steven L. Contursi, President of Rare Coin Wholesalers in Irvine, California. A Wall Street investment company subsequently paid nearly $7.4 million for the historic gold coin.

The legendary 1787 Brasher Doubloon gold coin has been sold by Steven L. Contursi.

Laguna Beach, California (PRWEB) December 19, 2011

The unique Brasher Doubloon, the first gold coin made for the young United States, has been sold by nationally known rare coin dealer, Steven L. Contursi of Laguna Beach, California, to Certified Acceptance Corporation (CAC) of Far Hills, New Jersey. An undisclosed Wall Street investment firm subsequently has purchased it from Blanchard and Company of New Orleans, Louisiana for a record price of nearly $7.4 million, the most money ever paid for the historic rare coin.
It was struck in 1787 by George Washington's New York City neighbor, silversmith Ephraim Brasher.
In January 2005, Contursi purchased the coin for a then-record $3 million along with participant Donald Kagin of Tiburon, California with Contursi having a two-thirds majority interest in it and Kagin one-third. Over the last seven years Contursi extensively exhibited the gold piece across the country.

"It's a national treasure, and I wanted tens of thousands of people to see it in person because it has tremendous significance for American history. It underscores the beginnings of our economic system," said Contursi who is President of Rare Coin Wholesalers in Irvine, California (http://www.rcw1.com).
Former American Numismatic Association President, Kenneth E. Bressett, has described the Brasher Doubloon as "without doubt our country's most famous and significant coin."
Contursi proudly set up educational displays with the legendary gold coin showcased in a custom-made wood exhibition cabinet reminiscent of the type used at the United States Mint in the 1800's. The Brasher Doubloon was publicly shown in Atlanta, Georgia; Baltimore, Maryland; Colorado Springs, Colorado; Denver, Colorado; Kansas City, Missouri; Las Vegas, Nevada; Long Beach, California; Los Angeles, California; New York, New York; Sacramento, California; San Francisco, California; St. Louis, Missouri; and Santa Clara, California.
The coin also was the inspiration for another of Contursi’s businesses.
In 2010, he and his wife, Seanne, named their Napa Valley estate vineyard and wine brand, Arrow&Branch (http://www.ArrowandBranch.com), because an eagle on the famous gold coin is prominently depicted clutching arrows in one talon and an olive branch in the other.
"This subsequently was a common design theme on many United States coins, indicating that America wants peace but also has the strength and willingness to defend itself. The wine bottle labels depict arrows and a branch with the Latin words, TELUM (arrow) and STIPES (branch)," explained Contursi.
Only seven Brasher Doubloons of this type survive today, and this specimen is unique. It is the only one with the designer's initials, "EB," punched across the breast of an eagle depicted on the coin The six other surviving examples have the initials on the eagle's right wing.
The unique Brasher Doubloon was kept in Baltimore for nearly 100 years when it was owned by Baltimore & Ohio Railroad magnate T. Harrison Garrett and his family, and later by The Johns Hopkins University. The coin was the subject of a 1942 Raymond Chandler novel, "The High Window," and a subsequent 1947 movie, "The Brasher Doubloon," based on Chandler's story about fictional detective Philip Marlowe.

"The denomination, 'doubloon,' may seem unusual today, but it was the coin-of-the-realm when the Brasher Doubloon was issued in 1787 as proposed coinage for the new republic. At the time, doubloons contained $14 worth of gold, but the Brasher Doubloons actually had $15 worth of gold when they were made," explained John W. Dannreuther, a co-founder of Professional Coin Grading Service, when the coin was displayed in 2006 in Baltimore.

"Fifteen dollars in 1787 is the equivalent of about $2,800 in today's buy
ing power standards," said Contursi.

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How much does it cost to make a USA one cent coin?

2011-12-11T07:29:00.000-08:00

Have you ever heard that it costs more to make a penny than it’s worth? That’s actually true!

According to the US Currency budget report, the increase in the price for base metals (copper, nickel and zinc) climbed from five-year lows, reaching near record highs.

What’s all this mean?

It means that the cost to make pennies and other coins has increased significantly. Just take a look at the increase in the cost of the base metals from 2009 to 2010.

Copper – Up 56.9%
Zinc – Up 52.4%
Nickel – Up 55.8%

These spikes in base metal costs caused the unit cost of coins to increase as well.

The 2010 figures are the most recent provided by the US Mint budget.

The cost to produce a penny: $0.0179

The cost to produce a nickel: $0.0922

The cost to make a penny and a nickel are a little over eleven cents for the two of them. That’s right, the US Mint pays $0.11 to creat $0.06 worth of money when they stamp out a penny and a nickel. That math doesn’t add up… If the costs of these metals continue to increase, it’s only a matter of time until a decision is made to cut these coins.

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Source: http://www.faithandfinance.org/2011/12/how-much-does-it-cost-to-make-a-penny/

Canadian Coin Collecting and Numismatic Shows for 2012

2011-12-10T15:52:00.000-08:00

JAN. 5 - 8, 2012, New York, NY
40th Annual New York International Numismatic Convention, Waldorf Astoria Hotel. Hours: Fri. 10 a.m. to 7 p.m., Sat. 10 a.m. to 7 p.m., Sun. 10 a.m. to 3 p.m. Admission $10 for three day pass. Professional preview Thurs. 2 p.m. to 7 p.m., $100 admission. Auction sessions held each day from January 1 through January 9, inclusive. Consult website for complete details. Sponsor/Affiliate: NYINC, Inc. For more information contact Kevin Foley, PO Box 370650, Milwaukee, WI 53237, USA, telephone 414-807-0116, email kfoley2@wi.rr.com. Website: http://www.nyinc.info.

JAN. 5 - 8, 2012, Orlando, FL
FUN Show, Orlando Convention Center, 9400 Universal Blvd. Hours: Thur., Fri. and Sat. 10 a.m.to 6:30 p.m.; Sun. 10 a.m. to 3 p.m. Sponsor/Affiliate: Florida United Numismatists. For more information go to http://www.funtopics.com/Fun_Show/FUNshow.html.

JAN. 22, 2012, Vancouver, BC
North Shore Numismatic Society Coin & Stamp Show, Oakridge Centre Auditorium - 41st & Cambie. Hours: 10 a.m. to 4 p.m. More than 30 dealers, free parking. Sponsor/Affiliate: North Shore Numismatic Society. For more information contact L. Balmer, telephone 604-299-3673, email balmoralnu@shaw.ca.

JAN. 28 - 29, 2012, Hamilton, ON
CAND Annual Show, Sheraton Hamilton Hotel, 116 King St., West. Hours: 10 a.m. to 5 p.m. Saturday; 10 a.m. to 4 p.m Sunday. Show pass $30 (good for Friday dealer set-up, Saturday and Sunday). Daily admission $3. Auctions to be conducted by Jeffrey Hoare Auctions Inc. Numismatic auction Saturday, Military auction Sunday. Sponsor/Affiliate: Canadian Association of Numismatic Dealers. For more information contact show chairman, Tom Kennedy, telephone 519-271-8825, or email cand@cogeco.ca.

JAN. 28, 2012, Burnaby, BC
West Coast Coin Antique & Collectible Show, 7481, 10th Ave Burnaby B.C. Our Lady of Mercy School Gym. Hours: 9 a.m. to 4 p.m. An eclectic event with vendors selling coins, paper money, tokens, antiques, silver, collectible cards, sports memorabilia and many other items. There will be free appraisals offered on site. Free parking and admission. For more information contact Joe Stancic, telephone 604-936-2646 or 1 -877-390-2646, email josephstancic@yahoo.ca.

FEB. 5, 2012, Paris, ON.
Swon, Paris Fairgrounds at the Convention centre, 139 Silver Street. Hours: 9 a.m. to 4 p.m. Admission $3 includes a ticket on the gold coin draw, more than 50 tables of coins, paper money, gold and silver bullion, jewelery and more, excellent food and drinks on site. Buy, sell, trade. Sponsor/Affiliate: Ted's Collectables Inc. For more information contact Ted Bailey, telephone 519-442-3474 or 1-866-747-2646, email tedscollectables@bellnet.ca.

FEB. 11, 2012, Oshawa, ON
COIN-A-RAMA, Five Points Mall, 285 Taunton Rd E. at Ritson. Show hours 9 a.m. to 5 p.m. Free dealer and membership draws, hourly public draws, free admission. Featuring paper, coins, tokens, medals and many other items. NEW DATE..
Sponsor/Affiliate: Oshawa and District Coin Club. For information contact Sharon MacLean, telephone 905-728-1352, email papman@bell.net.

FEB. 18 - 19, 2012, Toronto, ON
Torex - Canada's National Coin Show, Hilton Toronto Airport Hotel, 5875 Airport Rd. Hours: Sat. 10 a.m. to 5 p.m., Sun. 10 a.m. to 3 p.m. Admission $6. Under 16 free! Official Auctioneer: The Canadian Numismatic Company. The Hilton Toronto Airport hotel is located directly across from Toronto's Pearson International Airport. For more information please call 416-705-5348. Website: http://www.torex.net.

MARCH 17, 2012, Cambridge, ON
Cambridge Coin Club 21 Annual Coin Show, Cambridge Newfoundland Club, 1500 Dunbar Rd. Hours: 9 a.m. to 4 p.m. Free admission, buy, sell, trade and evaluate at 52 tables. Tokens, trade dollars, coins, paper money, militaria, sports cards, CTC coupons. Sponsor/Affiliate: Cambridge Coin Club. For more information contact Vince Nevidon, telephone 519-740-1416; Louie Schmidt, telephone 519-653-7838, or Wolfe Derle, email wolfe1937@hotmail.com.

MARCH 24, 2012, Guelph, ON
South Wellington Coin Show, NEW Colonel John McCrae Legion, 57 Watson Parkway South. Hours: 9 a.m. to 4 p.m. Admission $3, under 16 years free, legendary lunch counter, free draw for gold coin, more than 40 dealer tables. One of Ontario's best advertised, best attended shows, top numismatic dealers in attendance. Coins, banknotes, tokens, medals and more. Free parking, fully accessible. Sponsor/Affiliate: South Wellington Coin Society. For more information contact Mike Hollingshead, Box 1000, Arkell, ON, telephone 519-823-2646, email cholling@uoguelph.ca.

APRIL 13 - 15, 2012, Kitchener, ON
2012 ONA Golden Jubilee 50th Annual Coin Convention, Holiday Inn Conference Centre 30 Fairway Road S. Admission $3, 52 table bourse. Hours: Sat. 10 a.m. to 5 p.m. and Sun. 10 a.m. to 4 p.m., auction 6 p.m. Fri., military auction Sat., educational seminars, banquet (with keynote speaker), exhibits, good as gold draws (including one troy ounce of gold), and awards. There will be several numismatic groups and associations holding meetings which provides an opportunity to learn more about the benefits and fellowship of membership. Sponsor/Affiliate: Ontario Numismatic Association. Robb McPherson general chairman, email robb4640@sympatico.ca. Website: http://ontario-numismatic.org.

APRIL 22, 2012, Chatham, ON
Kent Coin Club Annual Spring Coin Show, Active Lifestyle Center 20 Merritt Ave N7M 6G9. Hours 10 a.m. to 4 p.m. Free admission and parking, free token or foreign coin to every person entering the show complements of the Kent Coin Club, 25 dealer tables (coins and paper money), food available on site for purchase, hourly draws and a raffle, displays with prizes in 10 categories. Sponsor/Affiliate: Kent Coin Club. For more information contact Lou Wagenaer, 27 Peters St., Chatham, ON N7M 5B2, telephone 519-352-5477.

APRIL 29, 2012, Brampton, ON
Brampton Coin Show, Century Gardens Recreation Centre, 340 Vodden Rd. E. Buy, sell, trade and appraise at more than 40 tables of dealers, featuring coins, medals, tokens, paper money, trade dollars, militaria. Children's table. Hours: 9:30 a.m. to 4:30 p.m. Admission $3, under 14 free. Free parking. Funds raised for children's charities. Sponsor/Affiliate: B&W Coins & Tokens and the Brampton Rotary Club. For more information, contact B&W Coins & Tokens, Willard Burton telephone 905-450-2870, email b_and_w@sympatico.ca.

JUNE 1 - JUNE 2, 2012, Toronto, ON
Toronto Coin Expo, The Bram & Bluma Appel Salon located at the Toronto Reference Library, 2nd Floor, 789 Yonge St. Canada’s premium coin, bank note and collectable show. More than 30 dealers in attendance. Partnering with numismatic auction house Geoffrey Bell Auctions. Auction May 31-June 1. Show dates Fri., 10 a.m. to 5 p.m.; Sat., 9 a.m. to 5 p.m. For more information contact Jared Stapleton, email torontocoinexpo@gmail.ca, telephone 647-403-7334. Website: http://www.torontocoinexpo.ca.

JUNE 23 - 24, 2012, Toronto, ON
Torex - Canada's National Coin Show, Hilton Toronto Airport Hotel, 5875 Airport Rd. Hours: Sat. 10 a.m. to 5 p.m., Sun. 10 a.m. to 3 p.m. Admission $6. Under 16 free! Official Auctioneer: Moore Numismatic Auctions, Charles Moore. The Hilton Toronto Airport hotel is located directly across from Toronto's Pearson International Airport. For more information please call 416-705-5348. Website: http://www.torex.net.

AUG. 5, 2012, Petoskey, MI
Northwestern Michigan Coin, Stamp & Postcard Show, Odawa Casino, 1760 Lears Road. Hours: 10 a.m. to 4 p.m. Auction at 4 p.m. Door Prizes, free coins or stamps for kids..
Sponsor/Affiliate: Northwestern Michigan Coin & Stamp Club. For more information contact Richard Silet, telephone 906-643-7941, email rsilet@charter.net.

AUG. 12, 2012, Paris, ON
Swon, 139 Silver St.. at the convention centre Paris Fairgrounds. Hours 9 a.m. to 4 p.m. Admission $3 includes a ticket on the gold coin draw, more than 50 tables of coins, papermoney, gold and silver bullion, militaria, jewellery, watches and more. Food and drinks available at show. Sponsor/Affiliate: Ted's Collectables Inc. For more information contact Ted Bailey, telephone 519-442-3474 or 1-866-747-2646, email tedscollectables@bellnet.ca.

SEPT. 9, 2012, Brampton, ON
Brampton Coin Show, Century Gardens Recreation Centre, 340 Vodden Rd. E. Buy, sell, trade and appraise at more than 40 tables of dealers, featuring coins, medals, tokens, paper money, trade dollars, militaria. Children's table. Hours: 9:30 a.m. to 4:30 p.m. Admission $3, under 14 free. Free parking. Funds raised for Children's Charities. Sponsor/Affiliate: B&W Coins & Tokens and the Brampton Rotary Club. For more information, contact B&W Coins & Tokens, Willard Burton telephone 905-450-2870, email b_and_w@sympatico.ca.

SEPT. 27 - 29, 2012, Toronto, ON
Toronto Coin Expo, The Bram & Bluma Appel Salon located at the Toronto Reference Library, 2nd Floor, 789 Yonge St. Canada’s premium coin, bank note and collectable show. More than 30 dealers in attendance. Partnering with numismatic auction house Geoffrey Bell Auctions.
Auction Setp. 27-28. Bourse Hours: Fri. 10 a.m. to 5 p.m. Sat. 9 a.m. to 5 p.m. For information contact Jared Stapleton, email torontocoinexpo@gamil.ca, telephone 647-403-7334.

OCT. 13, 2012, Guelph, ON
Guelph's Fall Coin Show, Colonel John McCrae Legion, 57 Watson Parkway. Hours: 9 a.m. to 4 p.m. Admission $3, under 16 years free. Legendary lunch counter, free draw for gold coin. More than 40 Dealer tables. Coins, banknotes, tokens, medals, and more. Free parking, fully accessible.
..
Sponsor/Affiliate: South Wellington Coin Society. For more information contact Mike Hollingshead, email cholling@uoguelph.ca, telephone 519-823-2646.

OCT. 20TH 2012, Oshawa, ON
Coin-A-Rama, Five Points Mall. Show Hours: 9:30 a.m. to 5 p.m. Free dealer membership, hourly public draws. Free admission. Featuring paper, coins, tokens, medals and many other items. Sponsor/Affiliate: Oshawa and District Coin Club. For more information contact Sharon Maclean, telephone 905-728-1352, email papman@bell.net.

OCT. 27 - 28, 2012, Toronto, ON
Torex - Canada's National Coin Show, Hilton Toronto Airport Hotel, 5875 Airport Rd. Hours: Sat. 10 a.m. to 5 p.m., Sun. 10 a.m. to 3 p.m. Admission $6. Under 16 free! Official Auctioneer: The Canadian Numismatic Company. The Hilton Toronto Airport hotel is located directly across from Toronto's Pearson International Airport. For more information please call 416-705-5348. Website: http://www.torex.net.

DEC. 2, 2012, Brampton, ON
Brampton Coin Show, Century Gardens Recreation Centre, 340 Vodden Rd. E. Buy, sell, trade and appraise at more than 40 tables of dealers, featuring coins, medals, tokens, paper money, trade dollars, militaria. Children's table. Hours: 9:30 a.m. to 4:30 p.m. Admission $3, under 14 free. Free parking. Funds raised for Children's Charities. Sponsor/Affiliate: B&W Coins & Tokens and the Brampton Rotary Club. For more information, contact B&W Coins & Tokens, Willard Burton telephone 905-450-2870, email b_and_w@sympatico.ca.

MAY 31 - JUNE 1, 2013, Toronto, ON
Toronto Coin Expo, The Bram & Bluma Appel Salon located at the Toronto Reference Library, 2nd Floor, 789 Yonge St. Canada’s premium coin, bank note and collectable show.More than 30 dealers in attendance. Partnering with numismatic auction house Geoffrey Bell Auctions. Auction May 30-31. Show hours, Fri. 10 a.m. to 5 p.m., Sat. 9 a.m. to 5 p.m. For information contact Jared Stapleton, email torontocoinexpo@gmail.com, telephone 647-403-7334. Website: http://www.torontocoinexpo.ca.

OCT. 4 - 5, 2013, Toronto, ON
Toronto Coin Expo, The Bram & Bluma Appel Salon located at the Toronto Reference Library, 2nd Floor, 789 Yonge St. Premium coin, bank note and collectible show, more than 30 dealers in attendance. Partnering with numismatic auction house Geoffrey Bell Auctions. Auction Oct.4-5. Show dates Fri., 10 a.m.to 5 p.m.; Sat., 9 a.m. to 5 p.m.
. For information contact Jared Stapleton, email torontocoinexpo@gmail.com, telephone 647-403-7334. Website: http://www.torontocoinexpo.ca.

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Charles Dickens’ birthday commemorated with special Royal Mint coin

2011-12-10T15:49:00.000-08:00

THE Royal Mint is to release a commemorative £2 coin to celebrate the 200th birthday of Portsmouth’s Charles Dickens.

The specially-commissioned coin, pictured, to be released next spring, features a profile of the author made up of titles of his most famous works.

The son of a Navy clerk, Dickens was born in Landport, Portsmouth, on February 7, 1812. Although his family soon moved north, Dickens returned to the city several times, on one occasion to carry out research for his novel Nicholas Nickleby. His birthplace on Old Commercial Road is now a museum.

Artist Matthew Dent designed the new coin. He said: ‘I wanted the design of the coin to reference both the immense contribution Dickens has made to British literature and his iconic portrait.’

A souvenir coin will also be released, priced at £8.50 and available at royalmint.com

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Source: http://www.portsmouth.co.uk/news/local/east-hampshire/dickens_birthday_commemorated_with_special_coin_1_3326791

America the Beautiful Quarters Circulating Coin Set™ Available November 29

2011-11-27T15:28:00.000-08:00

America the Beautiful Quarters Circulating Coin Set™ Available November 29

WASHINGTON - The United States Mint will begin accepting orders for the 2011 America the Beautiful Quarters Circulating Coin Set at noon Eastern Time (ET) on November 29, 2011. The 10-coin set, priced at $9.95, contains the 2011 America the Beautiful Quarters^®Program coins in circulating quality - one of each quarter from the United States Mint facilities at Philadelphia and Denver. The packaging allows the coins to be easily removed and placed into the America the Beautiful Quarters Coin Album^TM or other storage option.

Orders will be accepted at http://www.usmint.gov/catalog, or at 1-800-USA-MINT (872-6468). Hearing- and speech-impaired customers may order by calling 1-888-321-MINT (6468). A shipping and handling fee of $4.95 per order will be added to all domestic orders.

The America the Beautiful Quarters Circulating Coin Set is also available for purchase through the United States Mint Online Subscription Program. For additional information about this convenient ordering option, visit http://www.usmint.gov/catalog.

The United States Mint, created by Congress in 1792, is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The United States Mint also produces proof, uncirculated and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins.

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The Many Benefits and Pleasures of Coin Collecting

2011-11-26T10:24:00.000-08:00

Imagine a hobby that enhances your appreciation of art, expands your knowledge of history, geography and politics, helps you gain and strengthen organizational skills and provides opportunities for socializing.

Would it be wise to embrace such a hobby as you head into your golden years? You bet your bottom silver dollar it would, say avid coin collectors.

Appealing to all

Coin collecting is a terrific hobby for both older and younger people because it involves one's intellect, says Gilles Bransbourg, assistant curator of Roman coins at The American Numismatic Society in New York City, a museum and research institute devoted to the study of coins and currency. "Being intellectually active is a good thing, whether you're 30 or 70," he asserts.

David L. Ganz started collecting coins 50 years ago, when he was 10. He hasn't stopped since. "I collect coins because the hobby informs me about history, military history, government, political regimes, economies and religion," says the New York City attorney. "You can learn about how civilizations begin, expand, become empires and decline . . . It's been the hobby of a lifetime."

Mike Fuljenz, a Beaumont, Texas coin dealer, reports that coins are like "history in your hands. Coins in ancient times were like a newspaper, telling about who was in power, and whether the ruler was peaceful or a warmonger based on the design symbolism. For example, arrows (on coins) indicated war, while olive branches were a sign of a desire for peace."

Long-time Chicago broadcaster Donn Pearlman, now a spokesman for the Professional Numismatists Guild, a non-profit organization comprised of the country's top rare coin and paper money dealers, reports that every coin ever stamped has a fascinating story to tell about people, places and events.

"When collectors look into the historical significance of any coin, rare or common, they learn about the reasons certain individuals or symbols are depicted on the money, the economy of the times and even geography and art," he adds.

"You're never too old to learn, and coin collecting is an enjoyable way to learn about the history of the United States and the world," he adds.

Benefits of collecting

Coin collectors also experience both pride of ownership and personal accomplishment, says Pearlman. Acquiring a desired coin, whether by purchasing the coin or finding it in circulation, can foster a strong sense of pride.

And completing a set of coins, whether a modest Lincoln cents set or the 12 Caesars of ancient Rome, can be truly rewarding, Pearlman reports.

There is also a social component to coin collecting that can be highly beneficial for older adults. "Older people may enjoy the camaraderie of a club," Fuljenz says. "I'm a former coin club president, and many older members enjoyed sharing experiences and stories at those monthly meetings."

For his part, Pearlman reports as a result of long-time attendance at local coin club meetings and national coin conventions, he has forged decades-long friendships with people not just in the U.S., but from Great Britain to Australia.

For older adults, hobbies such as coin collecting can contribute to healthy aging, says Julie Bach, assistant professor of social work and chair of the gerontology certificate program at Dominican University in River Forest.

Bach says those who age successfully maintain high cognitive functioning that is enhanced by collecting, studying and organizing, she says. "The other model of successful aging is continuing engagement with life. If they're going to places where coin collectors gather, that's getting older people out and sharing ideas."

Getting started

You needn't be wealthy to start a coin collection, Pearlman reports. It's possible to start simply by assembling a set of popular 50-state commemorative quarter dollar designs issued for circulation from 1998 or 2008, or the current "America the Beautiful" designs.

"Some people who first started collecting coins from circulation expanded their collections by purchasing from dealers examples of earlier U.S. coin designs dating back to the 1790s," he adds.

"Depending on your budget, you can also enjoy assembling a set of different designs and denominations of U.S. coins struck during the 20th century, from Indian head cents to Eisenhower dollars to Double Eagle $20 denomination gold coins."

Although the rise in precious metal prices has spurred some to join the hobby, Bransbourg cautions there is very little relationship between the value of rare coins and their metallic content. For instance, rare Roman gold coins contain seven or eight grams of gold, whose value would translate to $400 or $500 on today's market. But each coin itself might fetch $15,000.

"Metals prices are but one of several factors," he says. "The price of a rare coin is based on rarity, beauty, quality, condition and sometimes the message on the coin."

If you don't know coins well, it's important to know your dealer, Pearlman urges. Ask how long the dealer has been in business, and whether he or she is a member of the Professional Numismatists Guild, who must adhere to a code of ethics in buying and selling numismatic merchandise.

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Source: http://www.chicagotribune.com/special/primetime/chi-primetime-coins-110911,0,3551772.story

US Mint Launches James A. Garfield Presidential Dollar

2011-11-19T14:29:00.000-08:00

On November 17, 2011, the United States Mint officially launched the James Garfield Presidential Dollar. This coin represents the twentieth release for the program honoring the former Presidents of the United States.

A launch ceremony for the coin was held at the James A. Garfield National Historic Site, located at the President’s former home in Mentor, Ohio. In attendance were Marc Landry, United States Mint Acting Associate Director of Manufacturing; Rudolph Garfield, the great-grandson of President Garfield; and Dr. Allan Peskin, professor emeritus of history at the Cleveland State University and author Garfield: A Biography.

Marc Landry said, “The Presidential $1 Coin series connects Americans to inspiring life stories like President Garfield’s. He was the last President born in a log cabin, fatherless by the age of two, drove canal boat teams to earn money for college, became a classics professor and college president, rose to brigadier general in the Civil War, and enjoyed a long, distinguished career in the U.S. Congress.”
The ceremony was open to the public and followed by a coin exchange. Attendees were able to swap paper currency for rolls of the new James Garfield Presidential Dollars.

The obverse design of the coin includes a portrait of the President designed and sculpted by Phebe Hemphill. The inscriptions include “James Garfield”, “In God We Trust”, “20th President”, and “1881″. The reverse of the coin is designed and sculpted by Don Everhart and features a rendition of the Statue of Liberty with inscriptions “United States of America” and “$1″. The date, mint mark, and “E Pluribus Unum” appear on the edge of the coin.

At 12:00 Noon ET on November 17, the James Garfield Dollars were made available by the United States Mint in numismatic rolls. The 25-coin rolls contain coins from either the Philadelphia or Denver Mint. The wrappers indicate the President’s name, mint or origin, and face value. Each roll is priced at $39.95 and can be purchased online at http://catalog.usmint.gov/

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Source:http://news.coinupdate.com/us-mint-launches-james-a-garfield-presidential-dollar-1066/

Bank of Canada puts plastic $100 bill into circulation

2011-11-15T10:59:00.000-08:00

Debit and credit cards may be ubiquitous, but cash is still king in Canada – and its reign won’t be ending any time soon.

As Canada unveils a new kind of currency this week, with the introduction of the country’s first polymer banknotes to replace the paper-style money used since the early 1800s, Bank of Canada Governor Mark Carney believes talk of a cashless society is overblown.
“Reports of the death of cash are greatly exaggerated,” Mr. Carney said Monday as the central bank put the new polymer $100 bill into circulation. “Our research shows that cash is used for more than half of all shopping transactions.”

The Bank of Canada has a vested interest in touting the relevancy of cold hard cash these days. The shift to polymer banknotes represents the biggest change to Canada’s money supply since the rainbow-coloured money was introduced in the 1960s.

As of Monday afternoon, Canadian banks are issuing polymer $100 bills instead of paper. The new polymer $50 bill arrives in March, while the rest of the denominations – the $20, $10 and $5 – will be released in 2013. Smooth and shiny, the sleek new bills are made of thin layers of plastic that are nearly impossible to rip, and believed to be almost as difficult to counterfeit.

Mr. Carney’s comments come at a time when the banking industry is working on ways to make cash payments obsolete. Some of Canada’s largest financial institutions and credit-card issuers have joined forces with phone companies to develop payment systems that will allow consumers to pay digitally from their phones at the cash register, similar to using a debit card.

While the development of those types of payments will make purchases more convenient for consumers who don’t want to carry cash or bother with change, the chances of getting rid of currency bills entirely is remote, since cash is the most commonly accepted form of payment.
“Canadians, as a consequence, need a currency that they can trust,” Mr. Carney said.

Canada is one of about 30 countries to have ditched paper-style bills, including Australia, which pioneered the use of polymer bills in the 1980s.

The introduction of polymer bills in Canada comes after a sharp increase in counterfeiting rates a decade ago, as home computers, colour printers and scanner technology got cheaper and more sophisticated. Canada’s paper banknotes, which are actually made of cotton fibre, will be removed from circulation over the next few years as more polymer denominations are introduced.

The central bank is using the $100 note as its test run for its other denominations, hoping to work out any kinks in the introduction of the polymer bills. Banks have been testing the new notes in their machines for months, said Martine Warren, the Bank of Canada’s scientific adviser.

“We’ve been working with the market for over two years to make sure that ATMs and all banknote-processing equipment are ready for these polymer notes,” Ms. Warren said. “We distributed test notes and advance designs of the genuine notes to machine manufacturers far earlier than we have in the past to make sure that the circulation system is ready for these polymer notes.”

The Bank of Canada has been working with the banking sector on the development of electronic payments, but the central bank has no plans to reduce the amount of banknotes in circulation. While the new polymer bills will cost about 19 cents to produce, roughly double what the paper notes of past series cost, they will last at least 2.5 times longer, Mr. Carney said.

Paper notes will still be legal tender, however banks will begin removing them from circulation as more polymer notes are introduced. Unlike the cotton-paper-based notes, the polymer banknotes have a see-through area that is not possible with ink on paper, which the central bank believes will be the most difficult aspect to counterfeit.

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Source: http://www.theglobeandmail.com/report-on-business/bank-of-canada-puts-plastic-100-bill-into-circulation/article2236089/?utm_medium=Feeds%3A%20RSS%2FAtom&utm_source=Home&utm_content=2236089

US Mint buys more gold,silver from Sunshine

2011-11-09T20:09:00.000-08:00

Despite a dip in gold coin sales in October, US Mint bought more gold and silver from Idaho's Sunshine Minting Inc.

US Mint logo

WASHINGTON(BullionStreet): Despite a dip in gold coin sales in October, US Mint bought more gold and silver from Idaho's Sunshine Minting Inc.

Sunshine Minting Inc., a closely held company in Coeur d’Alene, received $1.25 billion from the government for precious metals in the fiscal year that ended Sept. 30, up from $591.4 million during the prior year.

The company supplies raw silver and silver and gold blanks to the U.S. Mint and 13 other government mints around the world.

It is one of five companies that benefited in the latest fiscal year from rising purchases of gold, silver and other metals by the U S Mint.

The Mint makes money from its sales, which it returns to the U.S. Treasury. The Mint spent $3.75 billion in contract spending on precious metals in the fiscal year that ended Sept. 30, up from $2.74 billion the year before.

The growth is tied to the increased price of gold, silver and other metals, as well as increased demand for bullion and collector coins, a Mint spokesman said. Silver was the primary driver.

Sunshine Minting Inc. has almost quadrupled its staff to 270 since 2007, and orders are “still backlogged” because of the “dramatic increases” in demand for silver and gold coins, said Tom Power, the company’s chief executive officer.

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Source: http://www.bullionstreet.com/news/us-mint-buys-more-goldsilver-from-sunshine/348

Canadian Highway of Heroes Silver Commemorative Coin Available

2011-11-08T13:56:00.000-08:00

The Royal Canadian Mint has issued the 2011 Highway of Heroes Silver Commemorative Coin which celebrates a grassroots movement responsible for honoring Canada's fallen servicemen and servicewomen known as the Highway of Heroes. A $20 surcharge on the sale of each commemorative coin will be forwarded to the Afghanistan Repatriation Memorial and the Military Families Fund.
Each coin is struck from 99.99% pure silver and features a face value of $10. The Mint indicates that the maximum mintage of the strike will be limited to only 25,000 coins.

The somber yet heartening story of the Highway of Heroes goes back almost a decade. It started in 2002 when crowds of Canadians gathered at the overpasses of a section of Highway 401. They joined together to honor the first of Canada's fallen soldiers whose bodies were being returned from the conflict in Afghanistan.

This tradition has continued to this day with crowds still lining the overpasses to pay their respects to the fallen individuals as well as their families as they pass underneath. The bodies of the soldiers are being taken from Canadian Forces Base Trenton to Toronto.

"This silver coin commemorates the spontaneous outpouring of emotion by thousands of Canadians who have gathered along the roadway and overpasses of the Highway of Heroes to pay tribute to the brave Canadian men and women who have made the ultimate sacrifice," said Ian E. Bennett, President and CEO of the Royal Canadian Mint. "The Highway of Heroes commemorative coin also continues the proud Mint tradition of issuing coins that honor Canada's veterans and the theme of Remembrance."

Shown on the reverse of the commemorative coin is a design by Royal Canadian Mint engraver Stan Witten, in collaboration with Major Carl Gauthier. It shows one of the overpasses of the Highway of Heroes filled with individuals who have come of their own accord to honor the fallen soldiers and their families. Many Canadian flags are shown draped over the side of the overpass indicative of the strong pride the gathered have for their country. Behind them, a large maple leaf is depicted.
A Memorial Cross is shown to the upper left. Reverse inscriptions include "CANADA," "10 DOLLARS" and "2011."

The commemorative coin is struck as legal tender of Canada and features an image of Queen Elizabeth II of England, as designed by Susanna Blunt. Obverse inscriptions include "ELIZABETH II" and "D G REGINA."

Each 34mm Highway of Heroes strike weighs 15.87 grams. The commemorative coin is available now directly from the Royal Canadian Mint with additional information available at www.mint.ca/heroes.

Boscastle Supplies has a full inventory of coin albums

ROYAL CANADIAN MINT'S "MILLION DOLLAR COIN" AND $100,000 COIN IN METRO TORONTO

2011-11-08T12:21:00.000-08:00

$1-million face value, 100 kg Gold Maple Leaf Bullion coin made of the purest gold in the world on display as Royal Canadian Mint distributor Canadian PMX introduces new ways
to invest in precious metals and coins.
Also just released: $100,000 face value, 10 kg .99999 gold collector coin
on display and available to purchase.

RICHMOND HILL, ON, Nov. 3, 2011 /CNW/ - Royal Canadian Mint distributor, Canadian PMX Corp., one of the country's leading precious metals distributors, today launched its world-class public showroom in Richmond Hill, Ontario. In an economic environment where gold and silver fluctuations and record prices have been mainstream news, many investors have still not had any easy place in Canada to participate in this market. As part of its vision to make gold and silver purchasing easy and accessible to all levels of investors, Canadian PMX now offers its customers the opportunity to buy and sell precious metals and coins through the company's highly secure retail store and new web environment, making the process "as easy as buying groceries."

For the grand opening celebrations, the Royal Canadian Mint's $1-million face value, 100 kg Gold Maple Leaf Bullion coin, valued at more than $5 million and made of the purest gold in the world, is available for public viewing in the Canadian PMX showroom today only. Also on display is the 10 kg, .99999 gold collector coin, which has an exclusive low mintage of only 15 pieces (approximate value $675,000) — two of which are currently available for purchase through Canadian PMX.

Steven Bromberg, President and CEO of Canadian PMX, recognized a significant disparity between efficient access to precious metals in the United States and Canada, and he sought to change this. Bromberg explains, "We have established a company where consumers can buy and sell any amount of gold or silver quickly, easily and securely, without the complexities or fees involved in cross-border shipping or dealing with 'big' financial institutions." With the launch of a new online store and the grand opening of the new precious metals and numismatic showroom, Bromberg has now brought his vision to the Canadian public.

The increasing demand for gold and silver within many investment portfolios had left an underserved market for precious metals. "Growing investor interest in precious metals is hardly a surprise," says Bromberg, an expert in precious metals and numismatic collectibles. "Gold tends to be secure when the dollar is not. As national economies, particularly in Europe and the United States, are struggling with heavy debt and out-of-control spending, perceptions regarding the security of paper-based and digital currencies are weakening."

ARE WE HEADING BACK TO THE GOLD STANDARD?

"The history of precious metals being used as currency dates back more than 3,000 years, and gold is recognized for its ability to maintain intrinsic value through all economic cycles," says Bromberg. Security and preservation of wealth are the primary reasons why many financial advisors are now recommending that 10 to 25 per cent of their clients' investment portfolios should be in precious metals. He adds, "until the major economies of the world regain their fiscal balance and strength, gold and silver are likely to remain in demand as an insurance policy and store of wealth for investors."

ROYAL CANADIAN MINT'S "MILLION DOLLAR COIN" AND $100,000 COIN IN METRO TORONTO

The Royal Canadian Mint's 100 kg Gold Maple Leaf bullion $1-million coin, making its first appearance in Metro Toronto, was deemed the world's largest gold coin by the Guinness World Records in October 2007. Valued at more than $5 million, it represents the highest achievement in gold purity in today's bullion market. The Mint is proud to bring this exclusive showpiece to the headquarters of one of its most important Canadian distributors.

"We congratulate Canadian PMX and Canadian Coin & Currency for showing their leadership and innovation in collector coin and precious metal retailing and for putting the customer first by making investing and collecting easier and more enjoyable," says Beverley Lepine, Chief Operating Officer, Royal Canadian Mint. "The Royal Canadian Mint values partners who are committed to excellence, and the world-class showrooms and on-line store launched by Canadian Coin & Currency and Canadian PMX are exceptional platforms for the Mint's industry-leading collector and bullion products."

This 100 kg .99999 pure gold bullion coin was first introduced in May 2007 to showcase the Royal Canadian Mint's line of .99999 pure one-ounce Gold Maple Leaf bullion coins. The reverse of the coin features an elegant maple leaf designed by the Royal Canadian Mint artist and senior engraver, Stan Witten. The coin's opposite side portrays an effigy of Her Majesty Queen Elizabeth II designed by celebrated Canadian portrait artist, Susanna Blunt.

Just newly released and on display will be the 10 kg .99999 pure gold collector coin with a face value of $100,000. Introduced on October 21, 2011, this coin is the world's first 10 kg gold coin crafted of 99.99% pure gold. The reverse features Bill Reid's The Spirit of Haida Gwaii, while the opposite face portrays Susanna Blunt's portrait of Her Majesty Queen Elizabeth II. The exclusive mintage of 15 pieces makes this a unique collector piece, and two of them will be available for purchase through Canadian PMX.

PUBLIC VIEWING: THE ROYAL CANADIAN MINT'S GOLD MAPLE LEAF BULLION COIN

For the Canadian PMX grand opening celebrations, the Royal Canadian Mint's Gold Maple Leaf bullion coin is available for public viewing today at the Canadian PMX showroom, located at 10355 Yonge Street (former Bank of Nova Scotia building), Richmond Hill, between 9:30 a.m. and 5:00 p.m. ET. The event marks the coin's first appearance in Metro Toronto.

Boscastle Supplies has a full range of archival coin pages, capsules and cases for the best gold coins

United States Mint to Celebrate the Release of the Chickasaw National Recreation Area Quarter on November 16

2011-11-07T17:33:00.000-08:00

WASHINGTON, Nov. 7, 2011 -- /PRNewswire-USNewswire/ -- Officials from the United States Mint, the National Park Service and the Oklahoma state legislature — along with scores of local schoolchildren — will celebrate the release of the Chickasaw National Recreation Area Quarter on November 16, 2011. The ceremony will take place 11:00 a.m. Central Time (CT), in Flower Park on the grounds of the Chickasaw National Recreation Area. Highlights of the free event will include a coin exchange where the public can swap their cash for $10 coin rolls containing the new Chickasaw National Recreation Area Quarter.

WHAT: Presentation of the Chickasaw National Recreation Area Quarter and Coin Exchange

WHO: B.B. Craig, Associate Director, Sales and Marketing, United States MintWes Hilliard, State Representative, Oklahoma Bruce Noble, Superintendent, Chickasaw National Recreation AreaDr. Amanda Cobb-Greetham, Administrator, Chickasaw Nation History and CultureColin Campbell, Deputy Regional Director, Intermountain Region, National Park Service

WHEN: Wednesday, November 16, 2011, 11:00 a.m. (CT)

WHERE: Chickasaw National Recreation AreaFlower ParkSulphur, OK 73086
The evening before the launch ceremony — Tuesday, November 15, at 7:00 p.m. — the United States Mint will host a coin forum at the Travertine Nature Center Auditorium in the Chickasaw National Recreation Area. The Coin Forum is an opportunity for the public to express their views about future coinage and to learn about upcoming United States Mint coin programs and initiatives.

The Chickasaw National Recreation Area Quarter is the 10th coin in the United States Mint America the Beautiful Quarters® Program, a 12-year initiative to honor 56 national parks and other national sites authorized by Public Law 110-456. Each year, the public will see five new national sites depicted on the reverse (tails side) of the America the Beautiful Quarters. The United States Mint will issue these quarters in the order in which the honored site was first established as a national site.

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Read more: http://www.sacbee.com/2011/11/07/4036521/united-states-mint-to-celebrate.html#ixzz1d4bNWfaH

Call to adopt Cornwall currency

2011-11-06T14:36:00.000-08:00

A Cornwall charity chief has suggested the county considers adopting its own currency.

Ian Jones, chief executive of Volunteer Cornwall, said the county should be considering "radical ideas" to protect its economy in the economic downturn.

He said the currency could be modelled on local currencies such as the Totnes and Lewes pounds which were created by the Transition Network movement.

The currencies are accepted in local shops to keep money in the communities.

Mr Jones said: "Communities create wealth but too often it is siphoned out.

"We have to keep wealth local."

He said authorities should "plan for the kind of Cornwall we want for ourselves and our children".

Mr Jones said: "It's no good if we endlessly talk about our problems, we need to start doing something positive now if we are to avoid being at the mercy of the global storm which is currently raging."

Several Cornish mining areas in the 19th Century set up their own banks and issued their own banknotes.

In 1974 banknotes were issued by pressure group the Cornish Stannary Parliament partly to "raise money to aid it in the restitution of Cornwall's legal right to partially govern itself".

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Source; http://www.bbc.co.uk/news/uk-england-cornwall-15612321

The U.S. Mint's presidential dollar coin series

2011-11-05T14:37:00.000-07:00

The U.S. Mint's presidential dollar coin series is all the way up to Rutherford B. Hayes, the Republican who served as our 19^t^h president from 1877-81. Most Americans haven't even seen the George Washington coin yet, and don't want to.

Three out of four voters responding to a recent poll said they opposed the latest effort to switch from paper currency to dollar coins. That explains why the coins, 1.2 billion of them and counting, are stacking up in Federal Reserve vaults instead of finding their way in and out of our pockets.

But the mint keeps stamping them out, in accordance with a 2005 law that requires it to issue dollar coins bearing the likeness of all the dead presidents. That means the pile will keep growing until at least 2016 unless something changes. But what?

Sen. John Kerry, D-Mass., is sponsoring a bill that would halt production of dollar coins whenever there's a surplus. (Sorry, Chester A. Arthur!) Massachusetts is home to Crane & Co., which makes the paper that's used to print dollar bills. Kerry's measure is supported by paper and ink manufacturers, the armored car industry, and the Mount Vernon Ladies Association.

Rep. David Schweikert, R-Ariz., meanwhile, is pushing a bill that would phase out paper currency, forcing Americans to use those dollar coins, which are made mostly of copper, one of his state's biggest resources. His bill is supported by mining interests, transit agencies and the coin vending industry.

For the general public, you'd think it would be a matter of heads or tails. In daily use, the advantages and disadvantages of paper vs. metal are slight. Coins weigh more than bills, but they're not oppressively heavy, and how many do you really need to carry around? If you want to purchase a soda from a vending machine, a dollar coin is less hassle than either a bill or a handful of smaller change, but again, what's the big deal?

But the dollar bill isn't going to go away by itself. Witness the lack of enthusiasm for Susan B. Anthony, Sacagawea and all those U.S. presidents. Canadians, though, love their "loonie." Canada phased out paper dollars over two years after introducing the coin in 1987. Commerce was not upended.

Americans are funny about their money. A full 63 percent of those responding to the coin versus paper poll said they'd be less likely to support a candidate who favored replacing dollar bills with coins. Yet in poll after poll, they oppose getting rid of the penny, even though it costs nearly 2 cents to make and ends up left next to the cash register or dropped in a jar. Change is hard.

But this one's overdue. Printing paper dollars is a waste of money we don't have. Schweikert's bill has found support among members of the deficit-busting "supercommittee" looking for $1.5 trillion in federal budget cuts.

A dollar bill costs 5.5 cents to make and lasts about three years; a dollar coin costs 31 cents and lasts 30 years or more. Switching from paper to metal could save $5.6 billion over 30 years, or $184 million a year, according to the Government Accountability Office.

Critics say the supercommittee is rummaging for coins in the couch cushions. We say do it. Since when is $184 million chump change?

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Source:http://www.chicagotribune.com/news/opinion/editorials/ct-edit-dollar-20111104,0,631321.story

Three Things You Should Know Before Buying Gold Coins

2011-11-03T12:44:00.000-07:00

Recent news stories questioning what some dealers charge when selling gold coins reinforces what experts have advised for years: do your homework first. Investors should become knowledgeable before purchasing precious metal bullion coins as a financial investment or economic hedge, according to officials of the Professional Numismatists Guild (www.PNGdealers.com).

“If you don’t know your gold, silver, or platinum coins, you’d better know your coin dealer to help you make responsible decisions,” advises PNG President Jeffrey Bernberg of Willowbrook, Illinois. “To make an informed purchase of gold, silver or platinum, investors need to be aware of three crucial marketplace factors: the actual cost per ounce of the precious metals; the bullion value versus any collector value of the coin; and timely delivery of the merchandise.”

Price: Gold Investors should be aware that gold bullion coins trade at a small premium over the actual spot gold price because they are minted by sovereign governments that charge a fabrication fee. The spot gold price is based on 100 ounce or larger .999 fine gold bars. Gold bullion coins ranging from 1/10 oz to one ounces trade at 3% to 15% premium over spot, based on the coin, it’s size (for example, 1/10th, 1/4th, 1/2 or 1 full ounce), and the quantity being purchased. Many major gold bullion dealers typically will sell a single, one-ounce gold American Eagle gold coin at approximately four to five percent over the current spot/melt value (and purchase them from customers at about two percent less than their selling price.) American Eagles, Canadian Maple leafs and South African Krugerrands are some of the most popular gold bullion coins. Investors should contact several creditable precious metal dealers and shop for the best price.

Bullion vs. Collector Coins: Investors should distinguish between bullion coins whose values generally fluctuate according to the current price of gold, silver or platinum, and “rare coins” that can carry a significant collector premium based on historical supply and demand. Some U.S. gold and silver coins may be readily available in circulated condition for a modest premium over their bullion content, but those same coins in superb condition may have significantly higher value — perhaps thousands of dollars above their melt value.

Delivery: Under normal conditions, delivery of coins you’ve purchased should be received with 10 to 14 days. However, if at the time of purchase the seller may be aware of a mint delivery problem, it should be disclosed to you that there may be a delay. The PNG does not recommend having coins stored by dealers, instead, verified storage at an independent, accredited depositary is acceptable for many investors, especially if it involves a large quantity of gold.

Members of the Professional Numismatists Guild must adhere to a Collector’s Bill of Rights and a Code of Ethics that prohibit use of high pressure sales tactics and misrepresentation of the value of items being sold. PNG members must demonstrate knowledge, responsibility and integrity in their business dealings. They also must agree to binding arbitration to settle unresolved disagreements over numismatic property.

A complete list of PNG member-dealers can be found online at www.PNGdealers.com.

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Source: http://news.coinupdate.com/three-things-you-should-know-before-buying-gold-coins-1034/

Young Indians Buy Old Coins as Investment

2011-11-01T10:23:00.000-07:00

At a time when investors are shying away from the highly volatile stock market, an unusual asset class is gaining traction among young investors in India. Old coins and bank notes some dating back to the early 1900s are commanding a premium among Indians looking for returns and memorabilia.

photosindia | Getty Images

Close-up for an antique Indian one rupee coin

As trade is limited to small dealers and collectors, there is no organized data available on the size and value of the Indian market for old coins and evidence of growth is mostly anecdotal. But market watchers say the number of participants in coin auctions has doubled over the past five years.

For example, on eBay [EBAY 31.05 -0.78 (-2.45%) ] , Indian numismatics accounted for about 11 percent of all 2010 transactions, with a coin or note bought every four minutes, according to the website’s 2011 census.

There are also several coin shows held across the country every year. According to industry sources there are currently an estimated 10,000 coin collectors across India and they are on the rise.

"A few years ago coin collecting was just a hobby, but now it has become an investment. I have been dealing in coins since 1980 and things have been very good in recent years, and will be even better in years to come," says Rajneesh Jain, a Delhi-based dealer of coins and stamps, and the founding member of the Delhi Coin Society.

He adds that young collectors in the age group of 25-35 are driving growth. Anurag Varshney, 38, a software engineer has been collecting coins seriously for the past 10 years. "I started by picking up anything and everything, but now I focus on coins from one period. I'm trying to collect the whole set," says Varshney.

Coin dealers who spoke to CNBC say that new collectors keep entering the market pushing prices up. "Every time a new coin collector enters the market, prices immediately go up five to 10 percent, and then gradually even more, because of limited availability of the items they want," says Jain.

On average, he says, coin collectors can expect a ten fold return over three years, although in some rare cases, it can be far higher.

One of the most popular coins on the market today, says Jain, is a silver one-rupee coin from 1939, bearing the profile of King George VI. When Jain entered the business in 1980 the coin sold for just 750 rupees, now it can fetch 175,000 rupees ($3,500), if one comes up for sale as it is quite rare. "It's a supply and demand thing,” says Jain. According to him the silver coin issued in 1939 is rare to find today as most of the coins from that time were either melted, or withheld by the government.

There are other examples, says Jain, such as the 2001 limited edition commemorative 100 rupee coin that sold for 1,400 rupees at the time, and is now worth 20,000 rupees. Or the 1985 coin, also for 100 rupees, that is now worth 100,000 rupees. Or the coin collection consisting of 55 pieces dating from 1969 to 2005, that is now worth 500,000 rupees - five times the price at which it was last sold at an auction five years ago.

But before you start investing in coins, experts advise you do your homework. And the best place to start is the Internet. Learn how to recognize a counterfeit, investigate what ‘antique’ means, which can be difficult as there are no set regulations and interpretations differ. Also learn how coins are valued based on factors such as quality, age and demand. And importantly, know your market. In India, the demand is primarily for Indian coins, so experts advise against buying foreign coins.

While coin collecting can be a lucrative business, financial experts point out that it is an industry that is unregulated, lacks transparency and has poor liquidity. "I wouldn’t recommend an investor allocate more than 5 percent of their portfolio to old coins, it's just too risky," says Rohit Bhuta, Chief Executive Officer of Religare Macquarie Private Wealth. "The relative lack of transparency makes it hard to establish what and how much is out there. So I advise clients to treat them as a collector's item they get joy from, with the potential of a handsome return down the track."

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Source: http://www.cnbc.com/id/45099555

New UK QEII Jubilee Coin Issue finally confirmed by the Royal Mint

2011-08-17T16:33:00.000-07:00

The Royal Mint has publicly confirmed that a new United Kingdom £5 coin will be issued to mark the Diamond Jubilee of Queen Elizabeth II.

Following in the footsteps of seminal coin issues from her reign that were struck for her Silver Jubilee and Golden Jubilee celebrations, this will be the first ever UK coin to be minted for a Diamond Jubilee of any monarch.

Due to be officially unveiled in October 2011, Coin Portfolio Management will endeavour to ensure that clients will be some of the very first people to be able to view this coin design around the world.
What however has already been confirmed is that the new design will be the work of Sculptor Ian Rank Broadley FRBS, who created the common United Kingdom obverse design that has featured on our coins since 1998.

The obverse will feature a unique portrait of Queen Elizabeth II, whilst the reverse will feature a brand new design, inspired by the official Royal Mint medal that was issued for the Diamond Jubilee of Queen Victoria in 1897. Moreover, the £5 coin will no doubt be minted in a variety of metals and finishes to appeal to collectors and enthusiasts at all levels.

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Rare French Canadian banknote could float to $15,000 in Detroit

2011-08-11T14:13:00.000-07:00

The collectible currency will go under the hammer alongside a fine example of 'card money'

Notaphilists are certain to enjoy Ponterio's upcoming World's Fair of Money auction in Detroit, as nearly 250 of the 700 lots are rare paper currency with some truly exceptional pieces on offer.

In particular, there is a particularly exciting range of Canadian banknotes on offer, with three in particular standing out.

Firstly, there is ahighly prized piece of 'card money' that circulated nearly 30 years with this piece showing the first year of issuance.

Worth more than the last card in a Royal flush: the Canadian card money

The note is signed by Beauharnois and Hocquart with the aforementioned signature being quite bold and the latter only slightly faded. Three stamped seals are seen which attribute themselves to the signing officials.

This denomination was cut at the corners creating an eight-sided truncated rectangle which was meant to more quickly identify the denomination. One of the more pleasing of the scant few in private hands, this valuable asset is expected to sell for up to $8,000.

Another remarkable piece is a Bank of Canada $1,000 note from 1935. This is naturally the highest denomination for this popular series. The auctioneer says they handled a Gem example in their 2009 ANA sale where it brought $19,550.

They've listed this one at up to $15,000, which is hardly overoptimistic as it carries a grade of Gem Uncirculated 65 EPQ.

From the same year, lower in face value but perhaps its equal in covetability is a Banque Du Canada $50 note.

This French text $50 note is a rarity in all states of preservation and terrifically rare in uncirculated grades (this one is Choice Uncirculated 64 EPQ). A scant 32,500 were printed for the catalogue number and most were redeemed.

Fresh, fine and French: the Banque du Canada banknote

It is among the scarcest of small size Canadian notes and surely missing from even comprehensive collections. The note has no previous auction history being safely tucked away with others of this series offered in the same sale.

Vivid inks are immediately noticed which resulted from a strong impression of the design. Deeply embossed overprints are also welcomed and easily noticed when looking through the PMG holder.

When microphones were magic... the note's reverse

The striking allegorical vignette laid to the back shows 'Modern Inventions' with a radio microphone and faint outline of a globe making up the background. Also well centred which makes this impressive note also border on a Gem state, it is expected to achieve up to $15,000.

Ponterio's auction will take place in Chicago on August 16 courtesy of the ANA.

For Banknote / Currency Albums and Holders & Supplies go to www.boscastlesupplies.com

Source: http://www.paulfrasercollectibles.com/section.asp?catid=76&docid=7737

A penny stolen could be a felony

2011-08-08T13:48:00.000-07:00

A penny saved may be a penny earned, but in Texas, a penny stolen is about to become a felony.State lawmakers passed a bill this session increasing the penalties for metal theft, a crime that has become a growing problem statewide.

Under current law, it is a state jail felony to steal anything worth less than $20,000 if the item is at least 50 percent copper.

A provision of the new bill that takes effect Sept. 1 strikes out the 50 percent threshold, meaning that the theft of any item with any amount of copper could be considered a state jail felony. All pennies consist of at least 2.5 percent copper, according to the U.S. Mint.

Shannon Edmonds, director of governmental relations for the Texas District & County Attorneys Association, has jokingly pointed out the new "penny punishment" at meetings he has been holding around the state to educate prosecutors about laws approved in this year's legislative sessions.

Edmonds said he doesn't expect any prosecutor to charge someone with a state jail felony for stealing a penny. But he added that it shows how lawmakers often change current law without fully realizing the consequences.

"In their zeal to get after some of these scrap-metal scavengers, they really swung the pendulum pretty far to the other side," Edmonds said.

Sen. Royce West, D-Dallas, was a lead author of the metal theft bill. His spokesman, Kelvin Bass, said that going after penny thieves was obviously not the bill's intent. "We're going to rely on the reasonable discretion of the prosecutors in bringing those cases forward," Bass said.

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Read more: http://www.star-telegram.com/2011/08/06/3273846/a-penny-stolen-could-be-a-felony.html#ixzz1UTLy7aJL

Man Fights U.S. Treasury over $80 Million in Rare Coins

2011-07-07T15:28:00.000-07:00

A Philadelphia jeweler’s heirs are fighting the U.S. government over the ownership of gem mint “Double Eagle” gold coins, worth a total of, perhaps, $80 million or more. Treasury officials say the coins were stolen from Philadelphia’s US Mint in 1933, and the case is set to go to trial.

Most of these coins were destroyed when the United States went off the Gold Standard in 1933. Two are kept at the Smithsonian, but occasionally others come onto the market under uncertain circumstances. Here’s where this case gets really interesting: The jeweler who had these coins was actually stopped by government officials boarding a train, where they seized dozens of Double Eagle coins; but that was in 1933. The family had wanted to keep that information out of this case, but the judge ruled that it could be admitted.

It’s the kind of story, one of intrigue around the tremendous value in coins that had been sitting untouched for decades, that lures people into coins as an investment. Coin dealers like Goldine and Numis Network, which is actually a multilevel marketing outfit that deals in coins, tout the financial benefits of coin collecting.

And in a way it makes sense: What could be better than collecting money?

But here’s the reality: With the exception of exceptionally rare coins in excellent condition, they have generally proven to be an unremarkable investment. And, as About.com’s coin expert warns readers, the more hyped up a coin is, the worse of an investment it will tend to be. One piece of advice: Please, please, please stay away from the “modern commemorative” coins — a series of “rare” coins produced by the US Mint beginning in 1982.

These are made to be collector’s items and so everyone who wants them buys them and keeps them in mint condition. It’s unlikely that a powerful secondary market for them will ever develop (see, for instance, collectible plates).

The story of this lawsuit will likely be used by more than a few coin dealers hocking the dream of a family fortune from rare coin investment. But most of the value in coins comes from dealing them to unsophisticated buyers, not from buying them.

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Read more: http://moneyland.time.com/2011/07/07/man-fights-treasury-over-80-million-in-rare-coins/#ixzz1RSdcvYKc

Canadians Get Pumped for Launch of Plastic Currency

2011-06-22T12:12:00.000-07:00

America's northern neighbor is the latest to ditch the cotton-based paper money

Canada is taking a progressive step forward economically, finalizing its plans to join the likes of Australia and 30 other nations by ditching cotton-based paper money and introducing plastic-based bills.

Traditionally money such as the U.S. dollar and Euro (European Union) bank notes are printed on paper fiber. But there's been growing pressure to switch to plastic bills, due to their advantages.

Plastic bills are more durable that cotton fiber ones as they resist crinkling and creasing. This aids in automated vending schemes. Further, plastic bills are lighter, thinner, and (reportedly) more hygienic (as they absorb less bacteria). The new polymer currency is fully recyclable at its end of life. Cost wise, they are significantly more expensive than traditional bank notes, costing twice times as much to make. However, they're estimated to last 2.5 times as long, so the investment is expected to pay off in the long run.

Julie Girard spokeswoman for the Bank of Canada cheered the move stating, "Our mandate at the Bank of Canada is to make sure Canadians can use these notes with confidence. It's not meant to go through the wash and it's not meant to go through the dryer, and it's certainly not meant to be ironed, but it should withstand the occasional mishap."

The new polymer $100 bill will launch in November, followed by the $50 in March, and the $20 in late 2012. The launch will be completed in 2013, with the introduction of the $5 and $10 bills.

The new bills also allow Canada to implement unique anti-counterfeiting measures, such as transparent windows tattooed with color changing ink designs. The current bill design features two such windows -- one designed in the shape of a small maple leaf. The bills also have a number of other security features, such as raised ink in the numerals and the featured portrait.

The Bank of Canada will be working with financial institutions and other businesses this fall to inform them of how to check the new bills for authenticity.

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Source: http://www.dailytech.com/Canadians+Get+Pumped+for+Launch+of+Plastic+Currency/article21977.htm

Rare coins part of collectors show in Rock Hill

2011-05-19T14:32:00.000-07:00

A group of coin collectors are in Rock Hill this week for the International Coin Collectors Association show. The event runs through Friday at the Hampton Inn on Tarbor Drive near the Galleria, giving local folks a chance to browse the association's collection of vintage currency and sell their own treasures.

The collectors are looking for rare items such as coins and paper currency issued prior to 1965, gold items included class rings, mismatched earrings, broken necklaces, gold coins and bullion. The ICCA has recently uncovered some rare coins including a 1894S Barber dime that sold for a $1.9 million and a gold coin collection from a small town in North Carolina that went for $120,000.

Buyer Blake Beyer inspects coins Wednesday at the International Coin Collectors Association show in Rock Hill.

To protect your coin collection check out the coin supplies available at www.boscastlesupplies.com

Read more: http://www.heraldonline.com/2011/05/19/3081912/rare-coins-part-of-collectors.html#ixzz1MpuGjijM

USA Market Study to Test the Waters for American Eagle Palladium Coin

2011-05-17T16:56:00.000-07:00

The American Eagle palladium coin is on the verge of being released. Everything is set for takeoff.

The Palladium Bullion Coin Act of 2010, Public Law 111-303 has been set into law, the obverse design of the coin has been chosen to be Winged Liberty Head dime while the reverse will be the American Institute of Architects gold medal--both designed by sculptor Adolph A. Weinman.
According to U.S. Mint sources however, there is yet one major step that either speed up or stall the whole process. The is based on the requirement of the enabling act that a study must first be performed by an independent and reputable third party to determine the level of public demand for the American Eagle palladium coin. The coins will only go into circulation if it passes this popularity acid test.
To this end, the US mint is now seeking the services of potential contractors who are required to submit possible competitive solicitation for the marketing research. The contractors will be expected to determine the demand for American Eagle palladium coin through marketing and the US has given up to June 17 for potential contractors to respond in order to have the chance of being considered.

To increase their chances of being considered through competitive solicitation for the American Eagle palladium coin market research, contractors must submit a work statement consisting of a detailed structured and comprehensive study with adequate credentials to support the claim for independence and reputation. The selected contractors must meet performance standards which are both specific and measurable.

Should the American Eagle palladium coin passed the stringent popularity test, treasure Sec. will be mandated by law within a year of submission of the study report to issue .9995 fine palladium bullion with a face value of $25 of both Proof and Uncirculated versions of the coin in addition to bullion coins. Both versions will then be available on sale to the general public.

Proof and Uncirculated coins would both be considered numismatic products to be directly sold to the general public.

permits the finish of the to be changed annually in subsequent years following the inaugural release.
coins could be minted and issued at no net cost to taxpayers

According to the April 13 RFI, once the contract has been awarded, it is anticipated that it will take no longer than 90 days to complete the study.

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Contest for Design of New Israel Banknotes

2011-05-16T10:55:00.000-07:00

(Israelnationalnews.com) The Bank of Israel has announced a competition for the design of the new series of banknotes.

The Bank of Israel says it invites suitable candidates to take part in a competitive proceeding for the selection of a designer for a new series of State of Israel banknotes.

It was announced several months ago that the current series of State of Israel banknotes was to be replaced. Currently bearing the likenesses of the late Prime Minister Moshe Sharett, Nobel Literature Prizewinner Shmuel Yosef Agnon, and former Presidents Yitzchak Ben-Tzvi and Zalman Shazar, the new notes will feature writers Rachel the Poetess, Leah Goldberg, Sha’ul Tchernichovsky and Natan Alterman.

The replacement of banknotes once every 12–15 years is an accepted practice in advanced economies, the Bank of Israel states, occasioned mainly by the aging of the security features on the banknotes and the development of more advanced anti- counterfeit means.

The banknotes in circulation today - the Second Series of the New Israel Shekel, issued in 1999 - will be replaced by redesigned banknotes with advanced security features. The denominations will not change, and will remain NIS 20, 50, 100, and 200.

The Public Committee for the Planning of Banknotes and Coins will serve as competition referee, on behalf of the Governor of the Bank of Israel, for the choice of design and designer of the series among the design works that reach the final stage of the proceeding. The Committee will examine the design works from the standpoints of aesthetics, artistic quality, and suitability for successful performance as banknotes.

Monetary prizes will be offered to the top three design works, with 150,000, 100,000 and 50,000 shekels going to the top three finishers, respectively.

Only those individuals who satisfy all of the following requirements may take part in the proceeding:

A citizen or resident of Israel;
Holder of a certificate attesting to the completion of higher studies in design and graphics and at least five years’ proven experience in graphic design work, or alternatively, at least 10 years’ proven experience in graphic design work;
Strong proficiency in Hebrew and English;
Absence of conviction and/or of investigation regarding an offense that carries moral turpitude, except where the limitations clause under the Criminal Record and Penitence Regulations Law, 1981, applies, and/or the absence of any current legal proceeding or investigation against the candidate that is defined as material in the Bank’s exclusive judgment;
Bookkeeping certification.

The deadline for the tendering of bids is two months from now, July 17, 2011, at 14:00. Bids may be tendered Sunday–Thursday mornings at the Bank of Israel in Jerusalem or at the Bank of Israel branch in Tel Aviv.

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