As much as our Congress seems to forget the idea, the United States is a federation of 50 sovereign states, each with their own laws. Some states have sales taxes which include numismatic items; others do not. Thus the idea that such sales should be taxed is impractical, as most sellers will not be able to know whether an item is taxable in the receiving state. Besides, if a seller’s state does not tax such items, it is unreasonable for him to tax a sale, even going to a state which does impose such taxes. In other cases, an item costing less than some pre-set value (in Florida, $500) is potentially taxable, but not if over that value.
Jack Lloyd
Panama City, Fla.

Sales tax on online purchases is currently in place now in Canada. Merchants are suppose to apply a sales tax if they are Canadian and the item is sold within Canada. Depending upon location of vendor and purchaser, it may include the federal GST/HST and possibly the provincial sales tax as well. This also applies to eBay sales. Some merchants on eBay do not collect the tax but the Canada Revenue Agency (CRA) is watching and has both in Canada and Australia (according to my info) requested eBay open its sales records for their inspection.
Out of country purchases are collected by the post office, if sent via post, who act on behalf of the CRA/Customs Canada. Often only a sampling of the parcels are charged the taxes and a $5 fee for the service.
Whether or not we like it, big brother is watching.
W. Waychison
Address withheld

Absolutely no way. Small online sellers cannot feasibly deal with 9,600 taxing jurisdictions. Paperwork for small business is already a nightmare.
Brick and mortar coin stores have the benefit of face to face contact with customers for both buying and selling. If they do pass the law and exempt sellers of less than $1 million as proposed, it would be of little consequence when hyperinflation hits if one silver dollar is selling for $1 million dollars. Or maybe the small time online sellers could unite and buy off the congressmen like Amazon is currently doing.
Max Stucky
Colorado Springs, Colo.

Why should there be a sales tax on rare coins, currency, or precious metals when banks and financial institutions don’t have a tax on their investment products?
I have been the manager of a monthly coin show in Omaha, Neb., for 39 years. Recently we moved the show six miles to the east to Council Bluffs, Iowa, where there is no tax on numismatic items. So far my customer and dealer response has been 100 percent positive and the state of Iowa is receiving the benefits of money that all of us spend in Iowa.
We can argue the pros and cons of sales tax, but in the meantime we will be spending our money in Iowa.
Ed Bishop
Fremont, Neb.

More Coin Collecting Resources:

• Get exclusive collectors’ value packs at special discounts for investing in collectible coins, world coin collectors and North American coin collectors

• Get the 2012 Coin of the Year – limited quantities remain!

• Get them instantly! Buy digital editions of past issues of World Coin News, Coins Magazine and Coin Market eXpress!

I think it would be intriguing to see Liberty return to some coinage, even something close to, but not the same as, some of the original, classic designs, but only as alongside running designs. Today’s designs just don’t have the same appeal to me.
Another thing I would do away with is all of these short run, one-year varying designs. Not sure if the Mint is trying to create more interest and revenue by changing designs so often, but to me it’s a bit annoying, and has driven me away from collecting some series, for example, state quarters, then the territories, then state parks.
Bring out some new, solid designs, market them well, and keep it simple to help encourage more people to enter the hobby.
Mark Speltz
Monticello, Iowa

I like the idea of Miss Liberty permanently returning to our circulating coins and would love to see the presidents retired.
Political reality will not allow that to happen so the alternative idea of a one year type for each denomination is a good one.  However, enabling legislation must include a mandate to the Fed that they must order enough coins so everybody can get some.  That clause was left out of the America’s Beautiful National Parks bill with the result that hardly any are seen in circulation. We certainly do not want that to happen with these one-shot coins.
Bob Fritsch
Nashua, N.H.

Yes, I think it would be very nice if the U.S. Mint started using Liberty on coins again. The Walking Liberty half and Morgan and Peace dollars are all very beautiful designs. The Saint-Gaudens $20 gold piece also comes to mind. There are many beautiful designs to chose from or we can redesign similar ones.
J.E. Smith Sr.
New Tampa, Fla.

I like the idea.  Early coinage had a lot of symbolism that spoke of Liberty and freedom.  In a day and age where a camera is on every light pole, mayors telling us what we can eat or drink, and a loss of 4th Amendment rights in the wake of the dood-to-door searches in the Boston area, we need a reminder that we were founded on the idea of freedom.  Even as we are slowing losing those rights, at least it would remind me that I was once a free man in America.
Now I have to finish sewing my Phrygian cap before those to are outlawed.
Mike Budzynski
Address withheld

I vote no to putting Miss Liberty back on U.S. circulating coins for two reasons.  First, is there so little creativity left in the United States that we can’t design something just as meaningful and artistic, or must we continue to use old designs?
Secondly, is it really appropriate to put a symbol of Liberty on our coinage? In the past decade, the American people have lost a good portion of their liberties and freedoms due to far left leaders forcing laws through congress which are either unconstitutional or go against the will of the majority of the people in order to kowtow to special interest or minority groups.
To continue to pretend that we still have the same liberties and freedoms, as our founders intended, by putting symbols of Liberty on our circulating coinage, is laughable.
Charles Landess
Address withheld

More Coin Collecting Resources:

• Get the 2012 Coin of the Year, and begin your collection of the award winning Mint of Israel Biblical Coins Series all at once for one low price!

• Subscribe to our Coin Price Guide, buy Coin Books & Coin Folders and join the NumisMaster VIP Program

• The Essential Guide to Investing in Precious Metals

From the March 29th Numismatic e-newsletter: Is the Mint’s public design competition for baseball commemoratives a good idea? Here are some answers sent from our e-newsletter readers to Editor Dave Harper.

Why not let the public have their opinion in anything nowadays? The infamous Nolan coin was a great idea even though the industry denies it.
John K. Lawrence
Weeki Wachee, Fla.

Certainly. Another coin with Nolan Ryan on it will be good for the sport. It will be a money maker for the Mint, poor silver investment for the collector, but good for the sport.
And if the public submitted the design then the Mint doesn’t have to take the blame.
Max Stucky
Colorado Springs, Colo.

Seeking public design for a coin is one of the best ideas ever. Ever since true artists stopped designing our coins, and were replaced by computer-aided designing, our coins have looked like a bunch of trashy junk.
Maybe a true artistic rendition will be selected to create a truly collectible, beautiful coin design.
Alan R. Anderson
Tucson, Ariz.

I think this would be a great idea! This would and should include single “A” teams on up through the majors. For four seasons I had worked in concessions for the Modesto Nuts (Colorado Rockies) single A team. Sale of these commemoratives can also be sold at the ballparks. Just food for thought.
Gary Kess
Berkel en Rodenrijs Netherlands

Sounds great to me. Maybe we can now get some refreshing new designs for a change, designs from people who may really care about the subject matter and have some motivation for coming up with a great design.
I’m not inferring that employees at the Mint don’t care about their work, but from time to time things need shaking up a little.
Bryan New
Columbia, Ky.

Regarding whether it’s a good idea for the public to be involved in a competition for baseball commemoratives, in my humble opinion it is not a good idea. I have a problem with the U.S. Mint even thinking about baseball commemoratives, even though I played baseball at the collage level, and went on play a little professional baseball in the minor leagues. The U.S. Mint needs no public input from the public for commemorativescoins!
Larry W. Young
Tyrone, Ga.

I’m always in favor of public competition for the design of US coinage. I question who would be on a committee approving the designs and ultimately select the coin. I also question what will be the prize for the winning designs. If it’s anything like the 5,000 specially minted Goodacre Dollars that she got for her winning design, I would imagine that it would be quite lucrative to the winner. I doubt that awarding a specially minted coin or coins to the winners will never happen again.
William Brownstein
New Jersey

Having the public participate is always a great idea. However, there are enormous constraints on what design will work based on the requirement that the obverse must be concave. Beats me what congress was thinking when they decided the reverse must be convex. It doesn’t really make the baseball design any more workable than if it were a flat surface. Great Britain struck a 2 Pound coin in 1986 that was a soccer commemorative, and the ball nearly leaps out at the viewer. Same with the recent COTY award winning basketball coin issued by Latvia. Both of these coins use conventional coin dimensions and are some of the most attractive sports commemoratives out there, and both depict a ball. The proposal to use a convex/concave planchet is flawed on so many levels, it’s difficult to pinpoint the most problematic aspect to it. For starters, the coin’s reverse is almost certain to become impaired if the coin is ever removed from it’s packaging. Secondly, while NGC may be somewhat prepared to slab such a coin in one of their super-deep slabs, it’s hard to imagine PCGS wasting the necessary resources for them to accommodate slabbing a single issue like this in some newly designed PCGS slab. Surely the TPG firms deserve at least as much consideration as the vending industry when making changes with such a profound impact on their business. And then there is the overall look of the coin, it’s going to look like a little wok for cooking vegtables in. Maybe they can Teflon coat the obverse to make it easier to use. Meanwhile, the idea really isn’t even innovative. The French have already done it, and it was as dumb an idea when they did it as it will be when the US Mint does it.
Bruce Walker
Kansas City, Mo.

More Coin Collecting Resources:

• Get the 2012 Coin of the Year, and begin your collection of the award winning Mint of Israel Biblical Coins Series all at once for one low price!

• Subscribe to our Coin Price Guide, buy Coin Books &  Coin Folders and join the NumisMaster VIP Program

• The Essential Guide to Investing in Precious Metals

From the March 15th Numismatic e-newsletter: Should the Mint director’s job become a civil service post rather than a political appointment? Here are some answers sent from our e-newsletter readers to Editor Dave Harper.

The Mint director position should be that of a qualified civil servant. The idea of having a political appointee to manage a large manufacturing operation is a really bad idea.
Lifelong politicians with no real world profit and customer satisfaction driven production or manufacturing background who are appointed by political favor instead of an individual with a qualified back ground do not serve the best interest of the American public.
But an excellent Mint director alone will not make the Mint better. Along with a top-notch director the Mint needs to be given the freedom to operate like a for-profit company, being released to make daily decisions without requiring an act of Congress. That arrangement is like having GM ask its board members what colors should this year’s autos be.
Being in the minting trade over 25 years, I stand in awe of the sheer quantity of material processed by the Mint. But I see so many restrictions that inhibit its agility and creativity. Couple this with some leadership and decision making that to me seems to be lacking, (which are probably due to their ingrown congressional restrictions), I feel the Mint could be so much greater.
Take for instance recent two-year study to determine what alloys to replace the nickel and cent with came back un-decisive after umpteen million dollars have been spent. Really!?! A director with a for-profit industrial background probably would have presented the options to Congress in less than a year and the new materials would be in production by now saving millions of dollars per year.
Our neighbors to the north have done this quite successfully, as have numerous other sovereign mints around the world. Why? These other entities are operated like a for-profit origination and can make decisions regarding coinage alloys and programs on their own. As long as they show a profit and their customers are satisfied (both commercial/circulating and collectors) with the quality and content of the coinage being produced they will continue to thrive, thus making their shareholders (typically the national government or central bank) very happy.
I am not advocating making the Mint a “private” organization as other nations have done, but give the Mint some freedom, under a highly qualified director and not a political appointee, and I believe the Mint could become much more profitable and efficient, and possibly leave some extra space in your letters to the editor section as the number of gripes about U.S. Mint service may be considerably less.
Sean Moffatt
Director of Mint Operations
Great American Mint & Refinery.
Anaheim, Calif.

It really is a political job and it’s more public relations than anything. I think it should remain in the political area, but they might consider “terms” such as they do for the chairman of the Federal Reserve.
Ray Flanigan
North Carolina

No, I think the Job should stay a political appointment. For alls concern this position would be best kept out of the hands of a greedy civil service CEO.
Mercury R. Williams
Seattle, Wash.

I don’t really think it makes any difference in the quality of the Mint management whether the job is a political appointment or a civil service one. It will still be screwed up due to political pressure, and the Mint output of products will not be in the best interest of the country. It’s just the way things are now in this country, unfortunately.
Griff Carnes
Kerrville, Texas

Let it be a civil service position. As in most businesses, even at Krause Publications, promote from within. The only reason to consider is the person qualified. The best candidate usually comes from within. After all, choose someone who knows from within.
Gary Kess
Berkel en Rodenrijs, Netherlands

I see no reason for the director’s position to be a political position in my opinion.
Richard Neider
Motley, Minn.

More Coin Collecting Resources:

• Get the 2012 Coin of the Year, and begin your collection of the award winning Mint of Israel Biblical Coins Series all at once for one low price!

• Subscribe to our Coin Price Guide, buy Coin Books &  Coin Folders and join the NumisMaster VIP Program

• The Essential Guide to Investing in Precious Metals

From the March 8th Numismatic e-newsletter: Would you be more likely to buy a coin if it was from a famous hoard? Here are some answers sent from our e-newsletter readers to Editor Dave Harper.

If I were interested in that particular type of hoard I would say this would be the last factor which might convince me to make the purchase, a qualified yes.
I collect Irish coins and in the same vein with purchasing coins from a hoard I purchased Irish coin sets from the auctioned collection of John Jay Pittman.
Chris Budesa
West Orange, N.J.

The most intriguing aspects about coin collecting are the stories behind the coins, why they were made, how they were used, and who they came into contact with before they ended up in my collection. So, if I can link a particular coin back to a famous hoard, collector, or dealer, it adds another story to the coin, which adds value to the coin for me for which I will pay more to acquire.
Brendan Tupa
Minneapolis, Minn.

Based upon available funds, absolutely. Many a unique find can be within a hoard. Even finding a “hoard” on the floor of a regional show can happen. On one such occasion, a purchase of a 2-pound bag of foreign coins paid off. Within it, two silver Canadian coins and a 1797 British large cent. I still have all many years later.
Gary Kess
Berkel en Rodenrijs, Netherlands

No, I don’t think I would be more likely to buy a coin just because it is from a famous hoard unless it fit into my collecting plans. Then if I had the money I might.
Griff Carnes
Kerrville, Texas

The answer is simply no. I would not buy a coin simply because it was from a particular hoard.
1. Prices on hoard coins are inflated in many cases to make money based on hype. Once the excitement dies down the additional value goes away.
2. A common date hoard coin is not more likely to appreciate in value than like coins. So why pay a premium?
3. A rule similar to “Buy the coin – Not the holder” applies here. “Buy the coin – Not the hype.” No matter what happens, an MS-65 1881-CC silver dollar has the value of an MS-65 1881-CC silver dollar. That you can count on. You cannot count on any additional hoard value you attach to the coin.
Richard Frantz
Washington, Mo.

Absolutely not. Why would I?
Mel Kassenoff
West Orange, N.J.

In response to your question, I stay far away from hoard coins. I purchased some in the past and a few were grossly ove rgraded. I suspect the grading company went easy on the grading because the coins were a large hoard submitted by a big dealer.
Ferdinand Wirth
Fort Pierce, Fla.

Nope, I wouldn’t.
Jim Marceau
Kerrville, Texas

I would like to buy from hoards.
Edward E Cordova
Millersville, Md.

Expensive hoard? No.
Bruce Bergeron
Address withheld

It would not make a difference. If it was a 1909-S VDB in fine condition it is still a 19090-S VDB. I buy a coin on its condition and eye appeal, not who had it before me.
Tom Daugherty
Address withheld

No, I would not favor buying a coin from a famous hoard. They just bring a higher premium on the coins just because they came from a specific hoard. I can go buy the exact same coin from a local dealer or show that will not carry that
Name withheld

Yes.I would buy a coin all the more if it was authenticated as coming from a specific hoard.I love looking at an old coin and wondering where it’s been or who’s collection has it been in over all the years.Who would’nt want a coin where the history could be traced back to say the New York City subway hoard or an early half dollar from the Harmony Society hoard. Coin collecting and history go hand in hand and what could be better than having a documented history of where a certain coin has been.
David Tortorice
Buffalo N.Y

Yes i would buy a coin if i knew it was from a famous hoard and if it was within budget.
Scott McGowan
Chicago IL

As any numismatist would say, “ I have this coin which came from the famous Carson City Mint’s hoard, and I will sell it to you at less that the premium price.” Well, that very nice of you to do that for me. How much is it going to cost me?
My answer is NO!
Larry W. Young
Tyrone, Ga.

I really don’t care where a coin came from, just as long as it isn’t below the basic collection I started with my grandfather’s pockets, or above the standard grade I’ve established for myself since I’ve been buying with my own money. I must fit in – who cares from whence it came?
Paul. H. Bromely

Not really. If I genuinely want a coin I’ll pretty much buy it no matter where it’s from. To be more direct, concerning famous hoard coins it just depends on the coin and what famous hoard it was from.
Bryan
New Columbia, Ky.

SS Central America and SS Republic hoards are significant because, in both of these finds, the quantity and quality of gold coins were significant and were accounted for, conserved, and graded by PCGS and NGC, respectively, in an expeditious manner with great fanfare for the numismatic community. These coins all sell for a significant premium to non-shipwreck finds due to their important historical provenance.
David Salvette
Address withheld

Sure, just like the mint mark it tells a story as to the history of the coin. Where it may have settled for a while and an obvious connection between two collectors in the hobby who may have never had to opportunity to meet each other than through the coins they both collected. A pedigree of sorts!
Alan Hepler
Laytonsville, Md

More Coin Collecting Resources:

• Get the 2012 Coin of the Year, and begin your collection of the award winning Mint of Israel Biblical Coins Series all at once for one low price!

• Subscribe to our Coin Price Guide, buy Coin Books &  Coin Folders and join the NumisMaster VIP Program

• The Essential Guide to Investing in Precious Metals

From the Feb. 12th Numismatic e-newsletter: Should Congress end the Presidential dollar before the series is finished? Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
As a collector of the Presidential dollar series I say no.
I have been collecting the series from the start and I’m currently in ninth place on the PCGS Registry having a total of 206 certified coins in MS-66 Positions A and B; SF 68 Positions A and B, PR-69DCAM and three errors. I also collect the raw coins in both Position A and Position B.
Over the past few years the Mint has been letting the collector down. To me it all started in 2009 with the first of the Lincoln cents. The first coin in that anniversary series should have been a 2009-S VDB wheat cent. It was obvious that should have been the right choice to make.
Then in 2010 it was another quarter series. This made it obvious that the Mint saw a cash cow in the state quarter series and wanted another. Then it was the 2011 25th anniversary set of silver Eagles. Then in 2012 it was the “S” silver Eagle. The way the Mint mislead the collectors was criminal.
Now, already in 2013, we have the possibility of ending the Presidential dollar series and the continuation of the MS “S” mint America the Beautiful quarters. Why did they even start minting the MS “S” quarters?
The Mint looks like it took lessons from the private sector big business with its “in your face” greed.
Hey Mint, end the Presidential dollar series and lose a very good customer.
Jayne Shelby, Hollywood, Md.  

You must finish what you start. Just make what you think you can sell since we must now buy them. If you don’t, who will ever start another set of coins from the Mint?
Richrd Gaetano, Pittsburgh, Pa.  

Since I do not collect the Presidential dollars I probably should not make comments. However, on behalf of those who do collect them, especially the very young and those just getting started, stopping production would be wrong.
There are most likely a lot of young numismatists out there who started collecting with this series. If Congress should stop production it would be a big disappointment to those collectors and they would most likely give up collecting altogether.
What is needed is something to get more young people interested in collecting, not something to discourage them. If they really want to do something that would enhance collecting, lower the prices they are charging for their products and see how many more collectors would be willing to purchase them.
And while they are at it, they should spend much more time on quality and improve the products they are producing.
John T. Tinney, Volcano, Calif.  

Just as the state quarter program has rejuvenated coin collecting again, so did the Presidential dollars series. Many have invested in them on their own from circulation and from sets purchased directly from the Mint.
Now that it has been stopped, all these collectors/investors have a white elephant partial collection. It is not as interesting to display or will it promote continued interest in the coins. Please make them in lesser quantities for us. Please bite the bullet and discontinue the paper dollar as many countries have and force the U.S. populace to use the dollar coins and eat into the inventory.
Also, the Mint should have noticed long ago, that the coins had no place to go, use wise, as long as the paper dollars were allowed as the preferred choice. The savings for coins over paper with longer useful life is well documented. It is time to make the change.
The series as it stands now is an embarrassment to the U.S. coin collecting community. It also serves to add to the distrust collectors have of the Mint and its treatment of collectors. Americans will do the right thing only after exhausting all other alternatives. Thank you Mr Churchill.
Ernest J. Grassey, Scituate, Mass.  

The U.S. Mint should continue the series as there are only a few more years to go. It should also continue producing them in future years as each president qualifies for a coin. The Presidential series is educational in nature as well as honoring our presidents.
Jesse Tarshis, Montrose, Colo.  

Disrupting the American Eagle silver proof series over silver shortage issues was not well received and neither should a random early end to the Presidential Dollar subscription series from the Mint.
With popular presidents like FDR, JFK, Ike, and Reagan still to come, why not have the Mint announce a firm date to end the series with Reagan and not extend it beyond his coin even if later presidents become “eligible” for inclusion during the final years of the series? This allows the Mint to plan for a comfortable end to the series with no surprises for collectors.
I think ending it in this fashion will mean less disappointment than ending it suddenly with Coolidge or Hoover. After all, how would New Mexico, Arizona, Alaska, and Hawaii have felt if we killed the state quarter series after 46 states?
Ross MacCallum, Dumfries, Va.

The Presidential Dollar program should run through at least Ford and then it becomes a waiting game. Do we mint a Reagan coin while Carter is still alive? What if other former presidents pass away before Carter? The Ford coin is due in 2016, so it is not that far away.
My personal preference would be to change the program and start producing silver coins rather than the current base metal coins. Perhaps all previous releases could be released in silver. Perhaps do away with current American Eagle silver dollar. I bought the gold spouse coins the first year, but they have become too expensive of late.
Bob Kane, Johnstown, Pa.

I believe they should end this program It is not for the everyday person. Where can you get the new dollars? Why should collectors have to pay a premium for U.S. coins they want in circulation!
Cheryl Massaro, Philadelphia Pa.
 
I would hate to see the Presidential dollar series ended because I think it is a good educational tool for young and old. We have honored the first 23 and I think it would be wrong not to honor the rest of them. Of course I am one who believes the dollar bill should be dropped and mint coins instead.
Terrill Williams, Paola, Kan.

Congress should not end the series before the last eligible President is honored. The series was legislated, the albums created, the collectors got involved, and I for one do not want the rug totally pulled from beneath us.
That the Mint has transitioned from distributing those dollars at face value to adding a whopping 10+ percent vigorish for a box of 250 or 500 is reprehensible. Those dollars, along with the Native American dollars, should still be available at face, as it was before the Fed decided they had enough. Of course, Congress could solve the whole overstock debacle by discontinuing the dollar bill, but politics would never allow that to happen.
Bob Fritsch, Nashua, N.H.

No, they should finish up 2016, then end the coins.
Donny Willison, Erie, Pa.

Why would we discontinue the Presidential dollar coin series before it is finished? That makes no sense.
Eventually we will get rid of the dollar bill and will need additional dollar coin production. But the biggest reason is that the coins are a big money maker for the government, being sold at above face to collectors.
Paul Anderson, West Boylston, Mass.

I think that the Mint is wasting money and time with the Presidential dollars. They’re not recognized by the public. Most collectors don’t want them and they are a cheap looking coin in my eyes. The Mint should come out with a new dollar coin that the public will embrace and use because quite frankly, the last dollar coin that the public liked was the Peace dollar and that was way back when! Try a clad design the size of a Morgan or Ike and go from there.
Al Montana, East Longmeadow, Mass.

Congress should not end the Presidential dollars issue before the series is finished.
Subhash Chattopadhyay, Shakopee, Minn.

Clearly the program did not live up to expectations that it would replace the dollar bill. However, even this past year, when coins were only issued for collectors, mintages averaged about 10 million per president.
That’s a hefty profit for the Mint, and it makes for interesting and inexpensive coins for people to collect. Silver dollar commemoratives may be more attractive, but their mintages are generally less than a million. Other countries have commemorative programs with mintages of less than a thousand or in the low thousands; they would love to have a program that earns millions each year.
Simcha Kuritzky, Maryland

Why discontinue a series, just to discontinue a series – money, overproduction? Those should have been part of the initial approval process.
Readily available access to the series has already been altered, so the next step in the plan that was poorly thought out is discontinue?
What about the numismatists? What about the new youth involved in the hobby due to this present era collectible series?
Mark Nuetzi, Address withheld

The answer is “NO” in my opinion. Congress made a commitment to the American people when they approved the Presidential Dollar Series and that all the deceased U.S. Presidents would be honored. How many Presidential Dollar albums and folders have been purchased by people whom have been filling them with each coin release? What would be the value of a partial series to people? Not completing the coin program would set a bad precedent and limit the collecting public’s confidence in any future U.S. Mint coin series program.
Richard Jozefiak, Madison, Ala.

More Coin Collecting Resources:

• Get the 2012 Coin of the Year, and begin your collection of the award winning Mint of Israel Biblical Coins Series all at once for one low price!

• Subscribe to our Coin Price Guide, buy Coin Books &  Coin Folders and join the NumisMaster VIP Program

• The Essential Guide to Investing in Precious Metals

From the Feb. 8 Numismatic e-newsletter: Will collectors make money over the long term buying colorized coins? Here are some answers sent from our e-newsletter readers to Editor Dave Harper.

I do not think collectors will get any additional money on account of color over and above appreciation due to price of metal and any numismatic factor. Almost double the price we pay for color initially pays for fancy boxes. Collectors may not realize the full value of color paid initially at a later date.
Commemorative coins prices are rather high, particularly for the colored ones. As long as the additional profit goes to some charity, it is all right. Perhaps with moderate pricing and more sales, total profit can be maximized.
Subhash Chattopadhyay
Shakopee, Minn.

I had to write in to give my 2 cents worth on colorized coins. I hate them. I may seem a traditionalist, but coins do not look better with color, or pictures that need to be filled with color. It cheapens the coin, and coins in general.
There have been very few coins, as in two or three, that I have seen that color actually adds depth to the coin and makes it more interesting.
I am a strong believer that a coin should be designed and created with the notion that they will never have color, except the color of the metal it is made out of. If we put color on it, I believe we are defacing the coin.
That is why I like nice, clean designs on coins, bold faces, or well designed scenes. Russian coins do this very well, as well as Estonian and Lithuanian coins.
A well-designed coin looks attractive on its own merits, without color.
Mark Woodward
Clatskanie, Ore.

Over the past decade, there has been a profusion of colorized and/or otherwise “enhanced” (jewels, chips of rock, unusual shapes) new issue non-circulating legal tender coins with roughly an ounce of silver as the underlying metal.
These are being marketed at prices sometimes in excess of three to four times their silver bullion value. Unless mintages are extremely limited, these coins will never be worth more than their inherent silver value.
The profusion of these issues over the last decade reminds me of the “boom” in postage stamps issued by “sand dune” countries back in the late 1960s.
The excessive number of new stamp issues from more or less invented countries with negligible postal need had a negative impact on stamp collecting. This was one of the factors that led me to lose interest in modern stamps.
Many issuing authorities appear to take the attitude that collectors are a bunch of idiots who will pay exorbitant prices for their products. When it comes time to sell, collectors will have a hard time recovering more than the bullion value from these items.
L. Saryan
Wisconsin

My name is Tom DeWell from New Brighton, MN. That depends. Is the coin colorized by the mint or is it colorized by a private company. If it is colorized by the mint and has a limited quantity, then maybe yes. If it is colorized by a private company, then probably not. I’m recalling the colorized state quarters that were later colorized by private companies. Their value seems to be stagnant. I recall a foreign country that minted a coin with a blue sea turtle on it. I wonder what the mintage of that coin is and if it has appreciated at all in value. I’m thinking colorized coins should be treated more as a novelty than as a collectible, unless of course it is colorize by the issuing government sponsored mint. Then maybe an “investor” of colorized coins may have a chance at earning a return on his/her investment.
Tom DeWell
New Brighton, Minn.

In a nutshell, no. We all know that colorized coins lose their numismatic value (unless they started that way, like some of the new Canadian and other foreign issues); but it’s just sad to see a 1996 ASE in nice mint state, colorized! Of course, the same folks who gobble up this kind of stuff from shopping networks and think its special will continue to buy…but those aren’t really collectors in a numismatic sense (are they?).
Steven Strukel
Address withheld

Maybe I’m showing my age, but I have no interest in colorized coins. They look like tokens you get from Disney. If one makes money off of them then great. At the present I just don’t see much future in them.
Bryan New
Columbia, Ky.

If they exist someone will collect them.
Other factors:
Large number of different varieties increases popularity, as well as ease of obtaining specimens and comparative low cost.
Expect sophisticated collectors to look down on such items somewhat outside of government issued coins.
Technically, coins can be colored in three ways : (1) adding enamel, (2) pad printing,, (3) pasted color stickers.
Colorized stickers are less appreciated than other colonized coins.
Pad printing technology is rather expensive, as the German machine to imprint color directly on the surface of the coins costs more than $10,,000. An issuer has to sell a lot of coins to amortize such large initial costs.
Applying enamel is a simple manual technology and oriental firms to this at low costs.
Expect more colorized coins in the future to meet even the small demand for these.
Dick Johnson
Address withheld

I have always been interested in certain Canadian coins that have have interesting colors added.
Bruce Johnson
Address withheld

Words of wisdom from my dad on colorized coins, yeah there pretty but that’s about all, never will be worth more than face value,stay away from them
michael p. schmeyer
halsey valley, N.Y.

I have recently started purchasing some colorized coins. I do it to highlight certain people or events that are important to me. I am making special display sets for these. I have the 50 cent Pearl Harbor and Elvis coins. I am ordering the Abraham Lincoln coin also. I do not expect to make more than 50 cents (for a $9.95 cost) on these but the personal enjoyment is worth more than the cost. I purchase many coins for somewhat the same reason, the memories, as gifts and also the investment.
George Starkey
Folsom Calif.

I doubt it. It is such a sales gimmick.
Name withheld

No.
Michel Prieur Paris, France

No, collectors will not do well with colorized coins. Real numismatists probably won’t bother with them. Do any of these actually circulate?
Ginger Rapsus
Chicago, Ill.

More Coin Collecting Resources:

• Get the 2012 Coin of the Year, and begin your collection of the award winning Mint of Israel Biblical Coins Series all at once for one low price!

• Subscribe to our Coin Price Guide, buy Coin Books &  Coin Folders and join the NumisMaster VIP Program

• The Essential Guide to Investing in Precious Metals

From the Feb. 1 Numismatic e-newsletter: Will $10 million paid for a 1794 silver dollar send other rare coin prices higher? Here are some answers sent from our e-newsletter readers to Editor Dave Harper.

As a retired businessman, my feeling is that it’s all about advertising to a worldwide audience. If a real effort was made to make available our rare coins through a trading system based in the USA that would safely allow other countries’ citizens to purchase our rare numismatic coins, the value would go through the roof.
Just imagine there are many dates and mint states where less than 50 have been graded, and many where only exists less than 200-300 total coins. As we expand the market bases the sky’s the limit for many of these coins. Once struck these coins are one-of-a kind.
The second goal would be an anti- counterfeiting system; a place to send coins to be authenticated before purchases and/or strict laws of fraud for selling such coins on the internet or through online auction houses.
If we can inform and get a worldwide network of collectors say 300 million to 450 million people bidding on our numismatic gold and silver coins – think of the possibilities.
Richard Erickson
Westfield, Ind.

I really don’t think that one particular rare silver dollar that apparently sold for $10 million will impact the value of other rare coins; however, I would hope that it would, because I have a Dansco U.S. Major Coin Types (76 coins) that has taken me several years of research, and a lot of money to complete. The book contains many rare U.S. coins in various states of condition from F-12 Fine, too MS-70.
There are several coins in the book that are very valuable according to the The Official Red Book, one of which is a 1830 half dollar, which has the large letters UNITED STATES OF AMERICA on the reverse side of the coin.
By using the guidelines for grading in The Official Red Book (2013 Edition), this coin is either an Extremely Fine (EF-40) or an About Uncirculated (AU-50), which could be valued at approximately $9,000.
So with the aforementioned said, I would sure like to see an increase in price for numismatic U.S. coins.
Larry W. Young
Tyrone, Ga.

Likely it will influence prices on 18th and 19th century U.S. coins.
Jane Colette Arge
Tacoma, Wash.

More Coin Collecting Resources:

• Get the 2012 Coin of the Year, and begin your collection of the award winning Mint of Israel Biblical Coins Series all at once for one low price!

• Subscribe to our Coin Price Guide, buy Coin Books &  Coin Folders and join the NumisMaster VIP Program

• The Essential Guide to Investing in Precious Metals

From the January 11th Numismatic e-newsletter: Does a coin show’s level of security make or break whether you decide to attend? Here are some answers sent from our e-newsletter readers to Editor Dave Harper.

One of the attractions of investing in coins includes the anonymity of ownership. I am much more concerned with security at my home than at shows.
I find any requirement to produce identification to register at a coin show to be an invasion of privacy and a security breach since that information can potentially lead to a home invasion if it falls into the wrong hands.
As for the security of show premises, the more off-duty cops the better.
Bruce Walker
Kansas City, Mo.

Yes, indeed, it matters significantly regarding security at coin shows.
Some smaller local shows I attend have no security and it makes me nervous.
One particular show features memorabilia, games, and items of yesteryear sprinkled with about 35 percent coin dealers.
I would prefer to pay $1 to $2 for admission to cover some sort of armed security as a deterrent to anything being considered by anyone.
With today’s ultra poor economy, I think we all need to be more proactive in all security matters. I watch that no one watches my purchases.
How many dealers have been followed at the close of a show and when they stopped at a restaurant on the way home have been victimized?
Be streetwise and alert in all life experiences.
David Horgan
Address withheld

I don’t fly to coin shows (at least not yet), so the security level is not a major factor, as I carry concealed and am always armed.
I am also very observant when leaving a coin show with my purchases.
Name withheld
Regardless of the size of the show, security is a necessity. Granted, a good many of attendees of coin shows are above reproach. Unfortunately, the few “bad apples” have to spoil the broth, so to speak.
When I had lived in Ohio or California, security was a must to keep the “grey area” honest. There always seemed to be the one bad penny in the bunch. This cost is a needed one in the purchasing price at this venue.
I have yet to attend any venue in Europe. This coming Monday, I hope to walk into my first coin shop to gather information and insight to upcoming events. I will give all information I do have (as a concern) to gain new perspective.
In a nutshell, “a necessary evil” so to speak.
Gary Kess
Berkel En Rodenrijs, Netherlands

More Coin Collecting Resources:

• Get the 2012 Coin of the Year, and begin your collection of the award winning Mint of Israel Biblical Coins Series all at once for one low price!

• Subscribe to our Coin Price Guide, buy Coin Books &  Coin Folders and join the NumisMaster VIP Program

• The Essential Guide to Investing in Precious Metals

From the January 4th Numismatic e-newsletter: Would you consider 2012 a successful year in your collecting? Here are some answers sent from our e-newsletter readers to Editor Dave Harper.

As far as my coin collection goes, which right now I’m placing more emphasis on collecting the U.S. Mint’s entire collection of America the Beautiful silver quarters, proof sets, uncirculated sets with “P,” “D” and “S” mintmarks, roll quarters with “P,” “D,” and “S” mintmarks, the three-coin set which has all three mintmarks, and the 5-ounce silver America the Beautiful quarters, it is a very long and drawn out process that’s going to take to the year 2021.
I have completed my entire collection of all the early commemorative U.S. coins and the 76 different U.S. coins for my Dansco 7070 U.S. Major Coin Types, with every coin being a grade of Fine (F-12) to MS-70. So, I have spent all the money I’m ever going to spend on old U.S. minted coins unless something comes along that I think is an excellent deal. There is just too much fraud (counterfeit coins) involved in buying and selling old U.S. coins, and I don’t trust anyone but myself when it comes to grading a coin. The major coin grading companies are not trustworthy, as far as I’m concerned. I just don’t trust someone handling my coins, knowing that there is a possibility that my original coin could be switched with another coin and returned to me encased in a slab, graded as something other that what the original coin was.
I’m 71 years of age and have been collecting coins for over 50 years, so needless to say, I have a lot of money invested in coins, which are all cataloged and stored in my bank vault.
As far as 2012 being a successful year for collecting, I would say for me, yes it has, because I have obtained every coin that I wanted to purchase.
Larry W. Young
Tyrone, Ga.

2012 was a very successful year for me. I decided to limit my collection to gold coins and Carson City coins and memorabilia. By doing that I was able to stop paying the bank for two of my safety deposit boxes by selling the things I no longer had an interest in. By concentrating on just a couple of areas, I have more money to spend on the things I like best. Also, I can be a lot more choosy with the coins I do purchase. That also makes my wife a lot happier.
Like a lot of collectors, I had let myself get into just about everything under the sun in numismatics. Needless to say, that was hard on my wallet. I can now afford to look for the better coins and items that I am really into.
I don’t buy as many coins as I used to, but the ones I do purchase are of higher quality with a greater chance for appreciation in value for the things I do collect. Also, I no longer have to worry about what new mint products I should buy. It sure makes collecting a lot easier, although not less expensive.
John T. Tinney
Volcano, Calif.

For the collecting community as a whole, I cannot comment, but for myself yes 2012 was a banner year. I was fortunate enough to be able to acquire several nice offerings from our beloved U.S. mint and a few nice horse blanket notes. But the grandaddy of them all came at Christmas, from my wife, the holy grail of Lincolns – a P.C.G.S. slabed & certified 1909SVDB in VF-20 grade, and as far as I can see 2013 will be just as good if not better! Man this is fun.
Michael P. Schmeyer
Halsey Valley, N.Y.

This year was a banner year for me. An added expense was covered by selling off some “flex” items I had. In my new home (4 months) I’ve found about 15 cart tokens. Perhaps in this area I might find some rarities, as I’ve done with tax and transit tokens in the states. None of these tokens are found here, thus, potential profit for retirement again.
In these “troubled times” may a good collecting growth be for everybody!
Gary Kess Berkel
Rodenrijs, Netherlands

More Coin Collecting Resources:

• Get the 2012 Coin of the Year, and begin your collection of the award winning Mint of Israel Biblical Coins Series all at once for one low price!

• Subscribe to our Coin Price Guide, buy Coin Books &  Coin Folders and join the NumisMaster VIP Program

• The Essential Guide to Investing in Precious Metals