The following comes from an e-mail sent to the numismatic press

One of Philadelphia’s and the U.S. Mint’s finest, Medallic Artist Michael Gaudioso, has retired after creating designs of the nation’s coins and medals since 2009.

Gaudioso, a graduate of the University of the Arts in Philadelphia, earned his Master of Fine Arts from the New York Academy Graduate School of Figurative Art in New York City.

From 1995 to 1999, he studied sculpture at the prestigious Repin Institute in St. Petersburg, Russia. He is a classically trained draftsman and sculptor and taught figure drawing at Villanova University.

Prior to joining the United States Mint’s sculpting-engraving department in 2009, Gaudioso worked as a master painter and designer for America’s oldest and largest stained glass studio, Willet Hauser.

Design and Sculpting Credits

The Secretary of the Treasury selected these designs for use on a coin or medal. The artist also executed the sculpts required to produce these coins and medals.

• 2018 Native American $1 coin – reverse
• 2015 Presidential $1 coins – Lyndon B. Johnson obverse
• 2014 Presidential $1 coins – Warren G. Harding obverse
• 2011 First Spouse Gold Coin and Medal Program – Lucretia Garfield reverse
• 2011 Montford Point Marines Congressional Gold Medal – obverse
• 2008 Code Talkers Recognition Congressional Medals Program – Ho-Chunk Nation obverse
• 2008 Code Talkers Recognition Congressional Medals Program – Oglala Sioux Tribe obverse

Sculpting Credits

The artist executed the sculpts required to produce these coins and medals.

• 2020 Basketball Hall of Fame Commemorative Coin Program – Common obverse
• 2020 America the Beautiful Quarters Program – Marsh-Billings-Rockefeller National Historical Park reverse
• 2020 American Eagle Platinum Proof Coin Program – obverse
• 2019 American Liberty High Relief Gold Coin and Silver Medal – reverse
• 2019 American Legion Commemorative Coin Program – Silver reverse
• 2019 American Innovation $1 Coin Program – Georgia reverse
• 2019 America the Beautiful Quarters Program – War in the Pacific National Historical Park reverse
• 2018 World War I Centennial Silver Medals (Marine Corps) – obverse
• 2018 World War I Centennial Silver Medals (Navy) – obverse
• 2018 America the Beautiful Quarters Program – Pictured Rocks National Lakeshore reverse
• 2017 American Liberty High Relief 24-karat Gold Coin and Silver Medal – reverse
• 2017 America the Beautiful Quarters Program – George Rogers Clark National Historic Park reverse
• 2016 First Spouse Gold Coin and Medal Program – Elizabeth Bloomer “Betty” Ford obverse
• 2016 Mark Twain Commemorative Coin Program – Silver obverse
• 2016 National Park Service 100th Anniversary Commemorative Coin Program – Clad obverse
• 2015 Foot Soldiers of the 1965 Selma to Montgomery Voting Rights March Congressional Gold Medal – reverse
• 2015 U.S. Marshals Service 225th Anniversary Commemorative Coin Program – Clad obverse
• 2015 March of Dimes Silver Dollar Coin – obverse
• 2014 Civil Air Patrol Congressional Gold Medal – reverse
• 2014 First Spouse Gold Coin and Medal Program – Lou Hoover obverse
• 2013 First Spouse Gold Coin and Medal Program – Edith Wilson obverse
• 2013 American Eagle Platinum Proof Coin Program – reverse
• 2013 Presidential $1 Coins – William Howard Taft obverse
• 2013 5-Star Generals Commemorative Coin Program – Gold obverse
• 2012 First Spouse Gold Coin and Medal Program – Frances Cleveland (Term 1) reverse
• 2012 First Spouse Gold Coin and Medal Program – Caroline Harrison obverse
• 2012 National Infantry Museum and Soldier Center Silver Dollar Coin – obverse
• 2012 America the Beautiful Quarters Program – El Yunque National Forest reverse
• 2011 America the Beautiful Quarters Program – Olympic National Park reverse
• 2011 United States Army Commemorative Coin Program – Silver obverse
• 2011 Medal of Honor Commemorative Coin Program – Gold reverse
• 2011 First Spouse Gold Coin and Medal Program – Julia Grant obverse
• 2008 Code Talkers Recognition Congressional Medals Program – Pueblo of Acoma Tribe obverse
• 2008 Code Talkers Recognition Congressional Medals Program – Cherokee Nation obverse
• 2008 Code Talkers Recognition Congressional Medals Program – Cheyenne River Sioux Tribe obverse

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Professional Coin Grading Service Names Bruce Amspacher, Greg Roberts, and Catherine Bullowa-Moore for Prestigious Honor

(Santa Ana, California) September 24, 2020 — Professional Coin Grading Service (PCGS) has named three longtime coin dealers and numismatic leaders to the PCGS CoinFacts Coin Dealer Hall of Fame. Every year, PCGS inducts a small handful of distinguished dealers into the Hall of Fame, and this year the world’s premier third-party grading service is adding the names of three well-deserving individuals to the hall of numismatic luminaries. These three new inductees are Bruce Amspacher, Greg Roberts, and Catherine Bullowa-Moore.

“Bruce, Greg, and Catherine have all made such a tremendous impact on our hobby,” says PCGS President Brett Charville. “Bruce, as many know, cofounded Professional Coin Grading Service in 1986, and we owe a huge debt of gratitude to him for what he did in helping build our company to what it has become today,” says Charville of Amspacher, who passed away at the age of 63 in 2006. “His posthumous induction to the PCGS CoinFacts Hall of Fame further ensures his memory will never fade.”

Greg Roberts, 57, is CEO of Stack’s Bowers Galleries and A-Mark Precious Metals. He has been in the coin business for decades. “Greg has been a driving force in our industry for more than 40 years and has handled some of the biggest transactions of all time,” Charville remarks. “Some of his deals include the King of Siam Proof Set, which is famous well beyond the realm of our hobby.”

“Catherine Bullowa-Moore became a coin dealer after her husband, who owned a coin shop in Philadelphia, unexpectedly passed away in 1953, less than two years into their marriage,” Charville says. “After his passing, she stepped into those shoes as a coin dealer, taught herself the ins and outs of the hobby, and became one of the most respected dealers in the industry.” Bullowa-Moore, who passed away at the age of 97 in 2017, becomes the first woman inducted into the PCGS CoinFacts Coin Dealer Hall of Fame. “She was a pioneer in our industry and someone who so many coin collectors, as well as her fellow dealers throughout the generations, knew well and dearly miss.”

PCGS Co-Founder Bruce Amspacher

Bruce Amspacher was one of seven dealers who collaborated in 1985 to discuss plans for a new type of coin authentication and grading company. Just a few short months later this company became Professional Coin Grading Service.

“When we agreed to start the business in ‘85, we got together and talked about naming it,” recalls PCGS cofounder Gordon Wrubel. “‘Professional’ was Bruce’s suggestion,” he adds. Wrubel says Amspacher was “brilliant” and had a virtually photographic memory. “He was also an amazing writer,” he says, noting the eponymous popular Bruce Amspacher Investment Report. “Bruce was a master of limericks and could actually compose them on the spot. His longer ones for friends on special occasions were sometimes framed for posterity.”

His siblings lovingly recall that their brother got his start in numismatics rather by happenstance.

“He worked at a grocery store next door to a coin shop, and during breaks, he’d go in and speak with the dealer and really got into the hobby that way,” remarks his sister Jill Kinslow. “He had such a lock-trained memory — he could see a coin in 1985 and come across it again in 1990 and remember not just where he first saw it but also recall every little scratch, the color, spots. It just blew me away.”

His brother, Jerry Amspacher, notes he developed a great passion for the hobby. “He went to work for a coin dealer in Kansas City, then moved to Dallas and Boston before coming back to Kansas City. Then he and a few other dealers started PCGS, leading him to move to California.” He recalls that his brother shared his love of numismatics with the entire family. “He gave our mom a small gold coin on a chain, and then he’d call her each week and tell her how much it was worth that week based on the bullion value.”

Stack’s Bowers Galleries CEO Greg Roberts

Greg Roberts chalks up his illustrious career to “being in the right place at the right time.” But in reality, his successes have been built on more than serendipity. He got his start around 1978 hitting the bourse floor at a time when many of the coin dealers who were prominent during the Great Depression and post-war hobby boomtimes were still active and yet when many of today’s leading marketplace figures were just getting their starts. “Being able to work with some of the early people in the business was great,” he recalls. “I’ve been lucky,” says Roberts, adding a piece of wisdom for those contemplating a career in the coin business: “if you like history and want to make money, become a coin dealer. It’s a super accommodating industry, particularly for young people.”

Fellow Hall of Famer Kevin Lipton says he and Roberts go way back. “I’ve known him since he was a teenager when all he bought was Walking Liberty half dollars and Morgan dollars! We’ve done some tremendous deals together he and I, including splitting the Eliasberg sale where amongst a large amount of other coins we purchased both an 1804 Draped Bust dollar and 1894-S Barber dime.” Lipton explains Roberts’ accomplishments extend well beyond handling those trophy coins. “Two of the biggest things I’d say he’s accomplished in his career so far is leading Stack’s Bowers Galleries back to the top of the U.S. rare coin auction market and purchasing A-Mark Precious Metals, which he had turned into a powerhouse.”

Among the numismatists Robert’s career arc has had a pivotal influence on is PCGS President Brett Charville. “Greg’s ability to get big deals done has always been a hallmark of his career, but the term ‘big deals’ isn’t limited to just trading coins when it comes to Greg. His acquisitions of A-Mark, Stack’s Bowers Galleries, Carter Numismatics, and numerous other numismatic companies now ensure that Mr. Roberts is at the forefront of every sector of the numismatic industry. It’s apparent now in hindsight that over the last two decades while Mr. Roberts was acquiring seemingly disparate businesses, he was rather actually quite steadily building a numismatic empire.”

Coin Dealer Cathy Bullowa-Moore (Right, With Dealer Paul Nugget)

Catherine Bullowa-Moore was already involved in the coin business in the late 1940s when dealer Harvey Stack had met her on a trip to Philadelphia, where she was working in the shop of David Marks Bullowa, the man who she eventually married in 1952. “I remember her and her husband being noted numismatists in the Philadelphia area and was always well known for her dedication to the numismatic industry,” recalls Stack, who is also a member of the  PCGS CoinFacts Coin Dealer Hall of Fame. “She always did her very best to advance the hobby,” he says, “and always held a place of honor and friendship among her colleagues.” She was a founding member of the Professional Numismatists Guild in 1954 and was appointed by President Lyndon B. Johnson to the United States Assay Commission in 1965.

A decade later, she met dealer Paul Nugget, who remembers her spit-fire demeanor. “I was 28 years old and on top of the world,” he remarks of himself in May 1975, when he first encountered her. “I was in Manhattan and she was in Philadelphia. There was a collection I was going to buy, and I had arranged to meet with her at 12:00 PM one day to look at it. So, I drove down and sure enough I somehow arrived 30 minutes early, so I rang the bell. She answered the door and said, ‘I’m eating lunch — come back in half an hour.’ But at 28 and as someone who thought of himself as royalty, I rang again 15 minutes later and she — who was then 58 — answered the door and let me know what she thought of royalty!” He continues, “I fell in love with her and saw her at shows into her 90s. Even though she was in a wheelchair by that time, I always made sure I got a hug from her.”

About Professional Coin Grading Service

Professional Coin Grading Service (PCGS) is a third-party coin and banknote grading company that was launched in 1986. Over nearly 35 years, PCGS has examined and certified some 44.6 million U.S. and world coins, medals, and tokens with a combined value of more than $41.8 billion. For more information about PCGS products and services, including how to submit your coins for authentication and grading, please visit the website of PCGS or call PCGS Customer Service at (800) 447-8848.

Press release courtesy of the Professional Coin Grading Service. 

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The government and treasury of St. Helena, in partnership with the East India Company, have released (23rd September) their latest gold and silver coins struck in Brilliant Uncirculated quality, which is part of the series entitled “Treasures of India.” The new gold and silver coins feature India’s national bird, the stately peacock. Respected in religious scriptures and protected by the Indian Parliament, the peacock is considered sacred in India, occupying a special position in the country’s culture. This majestic animal is a symbol of prosperity, compassion, soul, and peace, thought to convey good luck and eternal love. Its feathers represent “a thousand eyes” and are believed to bring harmony, serenity, peace of mind, and good fortune. This beautiful bird has a special place in the stories and historical folklore of many different countries and peoples. According to Greek mythology, for instance, the peacock was Hera’s sacred animal, whose tail contains the one hundred eyes of Argos, which Hera moved to its tail before his death. In Hindu Culture, the peacock is associated with the deity Lakshmi and symbolises patience, kindness, compassion, and good luck.

Of particular rarity and symbolism is the white peacock. Breathtakingly beautiful, they are very rare and are seen as a sign of good luck. The white peacock is thought to represent Jesus Christ and stands for resurrection, renewal, and immortality.

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The coins are designed by renowned animal artist Veronica Mackinnon, who has captured the stunning beauty and mystique of India’s national bird featured on many religious buildings and artefacts, including the magnificent Peacock Throne of Shah Jahan, fifth Mughal Emperor, who ruled from 1628 to 1658. Displayed on a patterned background, the peacock is seen in repose, the feathers of its tail cascading down in a beautiful pattern of natural shimmering iridescent colours. The text ONE OUNCE CASH and 999.9 GOLD or .999 SILVER is placed around the design. The East India Company’s distinctive mintmark is placed to the lower left.

The obverse side includes the Commonwealth effigy of HM Queen Elizabeth II created by Engraver Jody Clark and introduced onto the coinage of St. Helena in 2019. The denomination of £100 (gold) or ONE POUND (silver) is seen under the Queen’s likeness which also includes the year of issue, 2020.

The APMEXclusive 2020 Peacock one-ounce gold and 1o-ounce silver Brilliant Uncirculated cash coin are part of the Treasures of India collection of limited-edition investment bullion coins.

Both gold and silver coins are exclusively distributed through U.S. based precious metal retailer, APMEX Inc. Exceptionally limited, the 2019 Tiger and 2020 Peacock coins will be followed by further releases of silver and gold coins celebrating India’s vast animal kingdom. For additional information, please visit the website of APMEX.

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Washington — The United States Mint (Mint) will open sales for Connecticut American Innovation $1 coins packaged in collectible rolls and bags beginning on September 29 at noon EDT. These new additions to the Mint’s product lineup contain uncirculated $1 coins from the Philadelphia and Denver facilities. Available product options and pricing are below.

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The reverse (tails) of the Connecticut American Innovation $1 coin depicts the Gerber Variable Scale being used to increase a geometric shape by 200%, a shape which resembles the state of Connecticut. Inscriptions are UNITED STATES OF AMERICA, GERBER VARIABLE SCALE, and CONNECTICUT. The year of minting (2020), mint mark (“P” or “D”), and the inscription E PLURIBUS UNUM are incused on the coin’s edge.

The obverse (heads) of American Innovation $1 Coins features a dramatic representation of the Statue of Liberty in profile with the inscriptions IN GOD WE TRUST and $1. The obverse also includes a privy mark of a stylized gear, representing industry and innovation.

The Mint is currently accepting orders for the bags and rolls of Connecticut American Innovation $1 coins here. For all products available in the American Innovation $1 Coin Program, visit here.

Information about shipping options is available at the Mint’s website.

To reduce the risk of employee exposure to COVID-19 in the workplace, the Mint’s sales centers are closed until further notice. Additionally, due to operational adjustments in response to COVID-19, our customer service representatives are available to assist with any questions you may have, but are unable to accept credit card information or place your order over the phone. Please use our website for all order placements at this time.

The American Innovation $1 Coin Program is a multi-year series featuring distinctive reverse designs that pay homage to America’s ingenuity and celebrate the pioneering efforts of individuals or groups from all 50 states, the District of Columbia, and the U.S. territories.

About the United States Mint

Congress created the United States Mint in 1792, and the Mint became part of the Department of the Treasury in 1873. As the Nation’s sole manufacturer of legal tender coinage, the Mint is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The Mint also produces numismatic products, including Proof, Uncirculated, and commemorative coins; Congressional Gold Medals; silver and bronze medals; and silver and gold bullion coins. Its numismatic programs are self-sustaining and operate at no cost to taxpayers.

Note: To ensure that all members of the public have fair and equal access to United States Mint products, the United States Mint will not accept and will not honor orders placed prior to the official on-sale date and time of September 29, 2020, at noon EDT.

Press release courtesy of the United States Mint.

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The Bank of Greece has launched (21st September) new gold Proof quality collector coins as part of their current “Greek Mythology” series highlighting on some of the most well-known stories: The Gods and Goddesses, in tales which are almost 4,000 years old and have stood the test of time. It is said the purpose of the myths was to provide the hearer with a truth which the audience then interpreted for themselves within the value system of their culture. The stories of the Greek myths attempted to answer the most difficult and the most fundamental questions of human existence. 

The latest coin features Hermes, who was the son of Zeus and the Pleiad Maia, daughter of Atlas. Since the advent of the international postal system, an image of Hermes has often been used to denote the function and speed of sending letters around the world. 

The coins are produced by the Hellenic Mint at their facilities in Athens on behalf of the Bank of Greece and are designed by M. Antonatou. The design on the obverse is inspired by a depiction of Hermes shown on an Athenian lekythos, or ancient Greek vessel used for storing olive oil, which is attributed to the fifth century B.C. The lekythos is displayed at the Metropolitan Museum of Art, New York. On the depiction, Hermes, the messenger god, is shown moving swiftly on an errand for Zeus, the ruler of the gods. Dressed in travelling clothes with a chlamys (short cloak) and a petasos (a broad-brimmed hat), he wears winged sandals and carries a herald’s staff, a kerykeion, which terminates in entwined snakes at its top. The same symbol was later carried by Greek heralds as they travelled from city to city. To the right of the primary design is the text ΕΛΛΗΝΙΚΗ ΜΥΘΟΛΟΓΙΑ (“Greek Mythology”) and to the left is ΕΡΜΗΣ (“Hermes”).

The reverse side includes a design which focuses on the top of the staff carried by Hermes, the entwined snakes, with both heads pointed at each other. In the middle is the denomination of 100 ΕΥΡΩ and on each side are the words ΕΛΛΗΝΙΚΗ and ΔΗΜΟΚΡΑΤΙΑ (“Hellenic” and “Republic”)

Available from the 28th September, each Proof quality coin is presented in a custom Bank of Greece-branded case, accompanied by a certificate of authenticity. Collectors residing in Greece can visit the Bank of Greece’s headquarters in Athens. Those outside Greece are asked to e-mail the following mailing address: Serv.NumProd@bankofgreece.gr.

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This U.S. Mint numismatic sales report covers the week ending September 13, 2020. The Mint’s best-selling product last week was the 2020-S U.S. Mint Proof Set (plus 2020-W Proof nickel) (20RG), which sold 6,656 units. In second place was the 2020-W one-ounce American Silver Eagle $1 Proof coin (20EA) with 4,015 sold. The third best-selling item this week was the 2020-S U.S. Mint Silver Proof Set (plus 2020-W Reverse Proof nickel) (20RH), with 3,808 individual units sold. It’s followed by the 2020-W one-ounce American Silver Eagle $1 Uncirculated coin (20EG), with 2,486 sold; and the 2020-P Women’s Suffrage $1 silver Proof coin (20CJ), with 1,836 sold.

This week saw a downward adjustment of -54 for the 2019 American Innovation Delaware 25-Coin Roll (P) (19GRA), -21 for the 2019 American Innovation New Jersey 25-Coin Roll (D) (19GRG), -19 for the 2019 American Innovation Georgia 25-Coin Roll (D) (19GRH), -18 for the 2019 American Innovation Pennsylvania 25-Coin Roll (D) (19GRF), and -16 for the 2019 American Innovation Georgia 25-Coin Roll (P) (19GRD).

The following are the U.S. Mint’s cumulative sales figures for the reporting period ending Sunday, September 13. “LKS” indicates that the number given is the last known sales figure for a sold-out item. Mintage and product limits are indicated, where applicable; if a coin is in stock but is nearing sold-out status, a link to the Mint’s product page is provided. Items in italics either are scheduled for release or have been released too recently to appear on the report; items in bold are appearing on the report for the first time.

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• Mint posted the report for the 21st already .. you guys are a ... by Paul B

 

Fr. 2231-J $10,000 1934 Federal Reserve Note. PMG Gem Uncirculated 66 EPQ. Image by Heritage Auctions. Hover to zoom.

Bill is now world’s most valuable ‘small-size’ note

Dallas, Texas (September 22, 2020) — A 1934 U.S. banknote set the world record for the most valuable type of its kind sold at auction when it brought $384,000 at Heritage Auctions. The $10,000 bill sets the ceiling on the most valuable “small size” piece of currency ever sold.

“This is easily the best of its kind I have ever seen,” said Dustin Johnston, Director of U.S. Currency at Heritage Auctions, which sold the note Friday evening, September 18, as part of a five-day event. “This is the finest example ever offered of a perennial trophy note and we were pleased to offer it at auction.”

The note is one of just three $10,000 bills to survive in such remarkable condition, according to Paper Money Guaranty (PMG), which graded the note. It is one of just eight surviving 1934 Kansas City $10,000s, serial number 562 of only 1,200 examples originally printed. This was the smallest print run by any U.S. Mint district for this series.

In 1928, the Bureau of Engraving and Printing reduced the size of United States banknotes to the current “small size” of 156 millimeters by 66 millimeters, in order to save money on printing costs. This colorful note’s shocking face value of $10,000 makes it especially desirable among collectors. Notes of this denomination were printed only for exchange between banks. They were not put into circulation for the general public.

Heritage maintains offices in New York, Dallas, Beverly Hills, San Francisco, Chicago, Palm Beach, London, Paris, Geneva, Amsterdam and Hong Kong.

Heritage also enjoys the highest online traffic and dollar volume of any auction house on Earth (source: SimilarWeb and Hiscox Report). HA.com has more than 1,250,000 registered bidder-members and searchable free archives of five million past auction records with prices realized, descriptions, and enlargeable photos. Reproduction rights routinely granted to media for photo credit.

Press release courtesy of Heritage Auctions.

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The government of Tokelau has authorised the release of new 2020-dated silver one-ounce coins which are part of an overall 12-coin series entitled “Tokelau Sealife” and features various species that live near this South Pacific Island. The seventh coin released features one of the most interesting fish which can be seen jumping out of warm ocean water worldwide: The aptly named flying fish.

Although flying fish (or Exocoetidae) cannot actually fly in the same manner as birds; they have a remarkable ability to glide through the air. Their wing-like highly modified long pectoral fins enable them to leap out of the ocean and hover over the water’s surface for substantial distances. Two-winged flying fish have unevenly forked tails with enormous pectoral fins that they stretch out to fly in the air and fold their wings while swimming. Together with their streamlined torpedo shape, flying fish use their ability to glide as a means of escaping predators in the water — of which there are many. When flying fish are in danger, they build up speed about 35 miles per hour underwater and propel themselves by wiggling their tails and holding their fins close to their body. They then spread their wings and leap into the air, gliding for around 45 seconds and remarkably can glide at double the speed they swim. While out at sea, it is not unusual for sailors to find them on the decks of ships. About 64 species of flying fish are known and grouped in seven to nine genera.

The coins are produced by the New Zealand Mint at their facilities in Auckland, on behalf of the government of Tokelau. The reverse side shows two flying fish leaping out of the water, one in the foreground, and the second one a little smaller in the background. The coin’s design includes graphics in the background representing the water in the ocean. Above the primary design along the edge is the text HAHAVE, which is the local word for the flying fish. The additional text FLYING FISH is placed below the design along the edge.

The obverse side includes an effigy of HM Queen Elizabeth II created by British sculptor Ian Rank-Broadley. Above the Queen’s likeness is the text ELIZABETH II ~ TOKELAU and below her likeness is the year of issue, along with the specifications of the coin, 1OZ .999 SILVER, and the coin’s denomination of FIVE DOLLARS. Also below the Queen’s effigy is a tuluma, a wooden tackle box used by local fishermen and which is the national symbol of Tokelau. It inscribed with TOKELAU MOT E ATUA, meaning “Tokelau for God,” referencing the island’s adherence to Christianity.

The Flying Fish is the subject of the seventh release of a 12-coin series, previous designs and wildlife included the Yellowfin Tuna, 2014; the Great White Shark, 2015; the Sailfish, 2016; the Barracuda, 2017; the Leopard Shark, 2018; and the Loggerhead turtle in 2019. Each encapsulated coin is available as a single coin or in quantities of up to 500 pieces from APMEX.

A presentation case is also available separately.

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The following is an excerpt from an article by Stephanie Meredith

The U.S. Mint produces more than 10 billion circulating coins a year. But it doesn’t distribute circulating coins to the public. The Mint relies on Federal Reserve Banks to put the coins into circulation. Learn about how pennies, nickels, dimes, and quarters enter circulation and reach your hands.

The Mint is the issuing authority for coins. It sets the production numbers and makes the coins. Most circulating coinage is made at the Philadelphia and Denver Mint facilities.

The Federal Reserve is responsible for the country’s circulating coin inventory and distribution of coins to its depository institutions (banks, credit unions). Federal Reserve Banks buy coins from the Mint at face value.

The Mint and the Federal Reserve work together to get coins into circulation following the process below.

1. Federal Reserve submits coin orders to the Mint.
   The Federal Reserve comes up with a 12-month rolling forecast to guide the Mint. It also submits monthly coin orders.
2. Mint determines production numbers.
   The Mint uses the forecast and coin orders to set the production numbers for each denomination. It also considers long-term demand by the public and seasonal trends that require more coins in circulation at certain times of the year, such as holidays.
3. Mint makes the coins.
   The Mint makes the new pennies, nickels, dimes, and quarters for circulation. Learn about that process in part two of this series.
4. Mint transports the coins to the Federal Reserve Banks.
   Armored cars and trucks take the coins from the Philadelphia or Denver Mint facilities to the Reserve Banks’ 28 branch offices and more than 100 private sector coin terminals. The coin terminals are operated by armored carrier services contracted by the Federal Reserve.
5. Federal Reserve Banks distribute to depository institutions.
   The Reserve Banks’ depository institutions place orders for coins. The armored carriers transport the coins from the coin terminals to the depository institutions.
6. The coins enter circulation and cycle between banks, businesses, and people.
   The depository institutions place the new coins in circulation by exchanging them with their customers, both businesses and individuals. They also give the coins to other banks that aren’t depository institutions with the Reserve Banks.

The new coins then become part of the circulation cycle.

Press release courtesy of the United States Mint.

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The results exceeded every expectation I had

— Bob R. Simpson

Dallas, Texas (September 21, 2020) — “Numismatic royalty.”

Those are the words the auctioneer used to describe legendary collector Bob R. Simpson and his renowned collection of Proof coins and ultimate rarities. When the gavel fell on the last of the 349 lots offered in Part 1 of The Simpson Collection, the tally surpassed $14.6 million at Heritage Auctions.

Numismatic royalty, indeed.

“I’m happy to share the collection with so many enthusiasts,” Simpson said. “Heritage did a wonderful job promoting the auction, and the results exceeded every expectation I had.”

The likes of Simpson’s collection have not been seen on the market in years. For example, his 1894-S Barber dime, graded an extraordinary PR-66 PCGS — one of but nine survivors — captivated the hobby when it sold for $1.5 million.

Simpson, whose collection is ranked by Professional Coin Grading Service as one of the best ever amassed, is deaccessioning selections from that collection through Heritage continuing into August 2021. All lots offered in Part 1 of the Simpson Collection may be viewed here.

Simpson’s name is synonymous with discerning quality. His 1796 JR-1 dime, SP-67 PCGS, is the best-certified example of this variety. Angling for their chance at this lone specimen, collectors pushed the auction price to $750,000. The fields on this unparalleled first-year, first strike coin are fully Prooflike throughout both sides. Not only does the coin show that clear and special care was taken in its preparation, striking, and preservation, it is also the earliest die state known, by far, for the 1796 JR-1 dimes.

The highly anticipated 1795 Flowing Hair dollar, B-7, BB-18, MS-65+, the finest with Silver Plug and considered the second-finest overall, ended at $630,000.

Simpson’s selection of gold was led by the coveted 1808 BD-1 Quarter Eagle, MS-63. The one-year type is the sole second-finest example graded by PCGS, and closed at $576,000.

“We are grateful to Mr. Simpson for selecting Heritage to conduct these auctions,” said Greg Rohan, president of Heritage Auctions. “Offering a collection such as this is a highlight of our work and relationships. We are simply thrilled for him.”

A gold 1854 Kellogg & Co. $20, the single-finest certified at PCGS at MS-65, served as the centerpiece of his territorial gold collection. Its $336,000 auction price connotes its spectacular gem condition, and informed numismatists believe it is the finest circulation-strike Kellogg $20, regardless of date and variety.

Also bringing $336,000, Simpson’s stunning 1918/7-S Standing Liberty quarter, MS-64+, is tied for the finest full head coin known. It also has the single most impressive pedigree of any known 1918/7-S. The quality is undeniable and the importance of this coin is unsurpassed.

Additional highlights include, but are not limited to:

• $336,000: The single finest O-Mint gold coin known, the 1899-O Liberty Eagle, graded a stunning MS-68+, with a provenance of being purchased directly from the New Orleans Mint.
• $240,000: The iconic Western gold relic, the 1851 Augustus Humbert $50, MS-63 PCGS, ranks among the finest of its kind.
• $240,000: The stunningly beautiful 1856 Flying Eagle cent is the finest ever graded at PCGS. This PR-67+ representative easily earns its grade, speaking to its status as one of the original coins distributed to congressmen and struck “on a regular production press at normal speed,” per to Snow. The flashy, Prooflike fields and moderately frosted devices are suggestive of an early impression from the dies, while the breast feathers are slightly rounded. Bronze-gold color dominates each side, but there are gorgeous accents of copper-orange, magenta, powder-blue, and mint-green throughout, delivering top-notch eye appeal.

Additional selections of the Bob R. Simpson Collection will be offered by Heritage Auctions throughout 2020 and 2021, with key specimens of his patterns collection being offered for the first time in decades. Full and complete results of the Important Selections from The Bob R. Simpson Collection, Part I are available for review at HA.com.

Heritage maintains offices in New York, Dallas, Beverly Hills, San Francisco, Chicago, Palm Beach, London, Paris, Geneva, Amsterdam, and Hong Kong.

Heritage also enjoys the highest online traffic and dollar volume of any auction house on Earth (source: SimilarWeb and Hiscox Report). HA.com, has more than 1,250,000 registered bidder-members and searchable free archives of five million past auction records with prices realized, descriptions, and enlargeable photos. Reproduction rights routinely granted to media for photo credit.

Press release courtesy of Heritage Auctions.

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