What's Happening
From the desk of your Secretary
JUNE 28/07 -
Legislation calling for annual commemoration of American Indians on the reverse
of circulating Sacagawea dollar coinage passed the House of Representatives June
12 and action now shifts to the Senate.
"Important contributions made by Indian tribes and individual Native Americans
to the development of the United States and the history of the United States" is
called for by in bill H.R. 2358.
This parallels S. 585, the Native American Dollar Coin Act, which would also
require the secretary of the Treasury to mint and issue coins in commemoration
of Native Americans.
The Sacagawea design, renamed "Sakakawea design" would be used together with
supplementary concurrently struck designs.
"Each design for the reverse of the $1 coins issued during each year shall be
emblematic of 1 important Native American or Native American contribution each
year."
One caveat: "in the case of a design depicting the contribution of an individual
Native American to the development of the United States and the history of the
United States, shall not depict the individual in a size such that the coin
could be considered to be a 'two-headed' coin."
The motif would start in 2008, unless the legislation passes after July 1 of
this year, in which case the first newly designed coins would be designated 2009
in their year of mintage.
JUNE 24/07 - First Spouse coins sell out on first day The first two First Spouse gold coins honoring Martha Washington and Abigail Adams sold out June 19, the first day they were offered to collectors. With a maximum mintage of 40,000 pieces for each design, the coins were priced at $429.95 for the proofs and $410.95 for the uncirculateds. There was an order limitation of five coins per household per sales option.
JUNE 19/07 - Despite increased precautions to make sure the embarrassing error would not be repeated, the United States Mint again has mistakenly struck so-called "Godless” dollars. Hundreds of the new John Adams presidential dollar coins, officially released into circulation on May 17, now have been found without the edge lettering, according to Ron Guth, President of the Professional Coin Grading Service of Newport Beach, California, a division of Collectors Universe, Inc. (NASDAQ: CLCT).
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| Inverted doubled edge lettering |
The "Godless" nickname was given to the coins because the familiar motto, IN GOD
WE TRUST, is missing from the edge.
Tens of thousands of George Washington dollars were released in January lacking
the edge lettering that includes the mottos IN GOD WE TRUST and E PLURIBUS UNUM,
the year of issue (2007), and the mintmark. Now the same mistake is appearing on
the second in the series of one-dollar coins honoring U.S. presidents.
"We have authenticated a small number of genuine John Adams presidential dollar
coins that were struck with normal designs on the front and back, but which
failed to go through the final minting process where the coins receive the edge
lettering. These error coins were discovered by a Detroit collector when he
opened several mint-sealed containers of coins made at the Philadelphia Mint,"
said Guth.
"There are indications that about 500 of the President Adams 'Godless' dollars
have been found so far and that's nowhere near the large quantities we saw with
the President Washington dollars. It appears the Mint's efforts to prevent that
kind of problem have been almost completely successful. However, now we're
seeing some coins with doubled edge lettering, so that IN GOD WE TRUST actually
appears two times on the same coin," said Guth.
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| Overlapping doubled edge lettering |
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| Plain Edge Adams Dollar |
To prevent coin production defects, the Mint modified its processes and added
more quality-control inspections at the Philadelphia and Denver Mints earlier
this year. Production equipment was moved to keep coins without edge lettering
separate from finished coins with the edge lettering, and color-coded bins are
used for holding finished coins.
"It's too early to put a final price tag on the collector value of Adams
presidential dollar errors because no one knows how many others will turn up.
But it's certainly an interesting discovery, and will prompt people to look for
more," said Guth.
JUNE 17/07 - The United States Mint today announced that the official United States Mint Presidential $1 Coin Proof Set, containing the new Presidential $1 Coins honoring George Washington, John Adams, Thomas Jefferson and James Madison, will be available beginning at noon on June 21, 2007, for $14.95.
This set contains the first four Presidential $1 Coins, all struck multiple times with specially polished dies to create the brilliant, sharp relief and mirror-like background of a proof coin. Their frosted, sculpted foregrounds give them a special "cameo" effect, created by the exacting proof process.
To order the 2007 United States Mint Presidential $1 Coin Proof Set online, visit the United States Mint's secure website at http://catalog.usmint.gov. To order by telephone, call 1-800-USA-MINT (872-6468). Hearing- and speech-impaired customers with TTY equipment may order by calling 1-888-321-MINT (6468).
There is no mintage limit, and no order limit for the 2007 United States Mint Presidential $1 Coin Proof Set. As an added convenience, customers can participate in the United States Mint Online Subscription Program in which specific products, such as the United States Mint Presidential $1 Coin Proof Set, are charged and shipped automatically as each set is released. A shipping and handling fee of $4.95 per order will be added to all orders. Please allow approximately two to three weeks for delivery.
JUNE 13/07 - The House of Representatives voted Tuesday to give a new look to the Sacagawea dollar in hopes of reviving flagging interest in the 7-year-old golden coin. The legislation, approved by voice vote, would make annual changes to the reverse side of the coin to commemorate the achievements of other American Indians and Indian tribes. The image of Sacagawea, a young Shoshone who helped the explorers Meriwether Lewis and William Clark on their expedition to the Pacific Northwest 200 years ago, would remain on the heads side of the coin. The bill, if approved by the Senate and signed by the president, would require that the Sacagawea coin comprise 20 percent of all $1 coins.
Doubled edge lettering with the second set of letters
overlapping the first (in various degrees from close to far). Because of space
considerations, this is described on the NGC certification label as
DBL.EDG.LET. – OVERLAPPED.
Doubled edge lettering with the second set of letters inverted over the first. On inverted examples, the two sets of edge lettering are in opposite orientation. One faces up when the obverse side is up, and the other is upside down. This is described on the NGC certification label as DBL.EDG.LET. – INVERTED.
Since these coins are fed through the edge lettering machine at random orientation, the edge lettering will appear randomly (as will the doubling) on the edge of the coins. This explains why some of the doubled edge lettering is overlapping and some inverted.
Here are some photos of doubled edge lettering. Again, the variety of positioning and orientation of the letters is essentially limitless.
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Photo #2b: Close up of edge, showing the inverted doubled edge lettering. |
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Photo #3a: (2007) John Adams $1 obverse, with exploded edge view. |
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Photo #6a: Obverse and full edge view of John Adams dollar displaying “matte” edge. |
Photo #6c: A close up of the date portion of the edge and parallel lines suggesting laser etching |
JUNE 12/07 -
There have been multiple reports circulating that counterfeit coins in FAKE
ANACS holders are attempting to be sold on eBay. All of these coins appear to be
offered by sellers from China
So far, there has been no official confirmation from ANACS. I will follow up as
more information becomes available.
MAY 28/07 - A Marvel Comics hero is giving George Washington some company on the quarter, but the U.S. Mint doesn't think the stunt is so super.
To promote the upcoming film "Fantastic Four: Rise of the Silver Surfer," 20th Century Fox and The Franklin Mint altered 40,000 U.S. quarters to feature the character.
The U.S. Mint said in a news release Friday that it learned of the promotional quarter this week and advised the studio and The Franklin Mint they were breaking the law. It is illegal to turn a coin into an advertising vehicle, and violators can face a fine.
"The promotion is in no way approved, authorized, endorsed, or sponsored by the United States Mint, nor is it in any way associated or affiliated with the United States Mint," according to the release. The federal mint did not say whether the studio or the private Franklin Mint would face a penalty.
The altered coins are quarters honoring the state of California that entered circulation in 2005. They feature George Washington on the front, as usual, but a colorized version of the character on the back. All 40,000 are slated to be in circulation throughout the country by the end of Memorial Day weekend, and about 800 were released in each state.
Fans who find the customized quarters can enter a contest
online to win prizes and a private screening of the movie. The Franklin Mint
mainly produces collectibles or commemorative medallions. Unlike its other
commemorative coins, these aren't being sold, said Franklin Chairman Moshe
Malamud. He emphasized that putting the character on the coin didn't alter the
integrity of the coin.
"We are very, very protective of the currency of this country. Our goal was to
enhance the coin," Malamud said. Fox spokesman Chris Petrikin said that neither
the studio nor The Franklin Mint intended to violate any laws or "suggest that
there was any approval from the U.S. Mint or the U.S. Government" for the Silver
Surfer coins.
"These are commemorative coins like many the Franklin Mint creates on a regular
basis for various properties," he said. "We were confident this coin followed
the same procedures and guidelines but will certainly take any necessary steps
if advised otherwise."
MAY 24/07 - As
the old saying goes, ‘a penny saved is a penny earned.’ Depending on the age,
condition and rarity of that same penny - it could prove to be worth a lot more.
It is generally believed that coin collecting began in the fourteenth century.
Today, it is considered a very competitive sport among devote coin collectors
and coin traders. Coin collecting has become such a huge industry in the United
States, each year one week in April is noted as National Coin Week.
This year’s event ran from April 15 - 21. The American Numismatic Association
(ANA) sponsors this annual event as a way to increase general public interest in
coin collecting. A coin drop kicks off the week long festivities and collectors
are encouraged to put one of their collectables into circulation in the hope
that the person who receives it will become a rare coin collector once this
treasure has been found.
The art of coin trading is quickly modernizing and is making the move on-line.
One unique site,
Coin Trading Online, on the web at connects buying collectors and sellers in
an Internet forum for discussion and trading of rare and precious coins from
around the world.
Each collector has a different approach to coin collecting - some try to collect
nickels or pennies from each year as far back as possible while others focus on
various special collections issued by the US Mint or other providers of
currency. For many coin collectors, coins can become a profitable investment.
MAY 10/07 - The United
States Mint announced today that it will begin taking orders for the Martha
Washington and Abigail Adams First Spouse Coins at 12:00 noon (ET) on June 19,
2007. The First Spouse Coins mark the first time the United States Mint has
featured women on a consecutive series of coins.
Each First Spouse Coin will be a half-ounce of pure gold in proof or
uncirculated versions. The coins will have a denomination of $10, but the
24-karat gold content will be worth considerably more than that. Bronze
duplicate medals may also be ordered.
The first four coins in this multiple-year series will honor Martha Washington,
Abigail Adams, and Dolley Madison. President Thomas Jefferson’s wife died in
1782, before he was elected in 1801, so “Jefferson’s Liberty,” a symbolic
rendition of liberty used on a coin of Jefferson’s era (Draped Bust Half-Cent:
1800-1808), will be featured on the third First Spouse Coin of the series.
The “Jefferson’s Liberty” First Spouse Coin is expected to go on sale on August
16, 2007, and the Dolley Madison First Spouse Coin tentatively will go on sale
on November 15, 2007.
Customers may visit www.usmint.gov or call 1-800-USA-MINT to order their coins.
The price of the individual First Spouse Proof Coin for Martha Washington or
Abigail Adams will be $429.95. The price of the First Spouse Uncirculated Coin
for Martha Washington or Abigail Adams will be $410.95.
There will be a mintage limit of 40,000 across both product options and a
household limit of five for each option. The United States Mint has decided not
to offer four-coin sets of these products, either for order or by subscription.
The Presidential $1 Coin Act of 2005 authorized the First Spouse Coins as the
pure gold (.9999) collectible counterparts of the circulating Presidential $1
Coins. The George Washington Presidential $1 Coin went into circulation on
February 15, 2007. The John Adams Presidential $1 Coin goes into circulation on
May 17.
The obverse (heads side) of the First Spouse Coins will feature portraits of the
Nation’s First Spouses, as well as inscriptions that include their names; the
years during which they were the spouse of a President during the President’s
period of service; the year of minting or issuance; and “In God We Trust” and
the word “Liberty.” Each First Spouse Coin will also have a unique reverse
design featuring an image emblematic of that person’s life and work, as well as
the inscriptions “The United States Of America,” “E Pluribus Unum,” “$10,” “1/2
oz.” and “.9999 Fine Gold.”
The obverses of the Martha Washington and Abigail Adams First Spouse Coins were
designed and sculpted by Joseph Menna, a United States Mint Medallic Sculptor.
The obverse of the Dolley Madison coin was designed and sculpted by Don
Everhart, a United States Mint Sculptor-Engraver. The Jefferson obverse image of
Liberty appeared on the Draped Bust Half-Cent coin from 1800-1808, originally
executed by United States Mint Chief Engraver Robert Scot. The image was
re-sculpted by Phebe Hemphill, a United States Mint Medallic Sculptor.
The Martha Washington reverse was designed by Susan Gamble of Arlington,
Virginia, an Artistic Infusion Program (AIP) Master Designer. The image was
sculpted by Don Everhart, a United States Mint Sculptor-Engraver. The reverse
design depicts the future First Lady sewing a button onto her husband’s uniform
jacket. During the Revolutionary War, Martha Washington’s concern for the
colonial soldiers earned their lasting respect and admiration.
The Abigail Adams reverse was designed by Thomas Cleveland of Houston, Texas, an
AIP Master Designer. The image was sculpted by Phebe Hemphill, a United States
Mint Medallic Sculptor. In one of her most memorable letters, Mrs. Adams
requested that her husband “remember the ladies” when creating the new Republic.
That inscription is on this coin. John Adams acknowledged that Abigail Adams had
as much political insight as any of his colleagues, and that he valued her
counsel above all others.
The reverse of the Thomas Jefferson coin was designed and sculpted by Charles
Vickers, a United States Mint Sculptor-Engraver. The reverse design depicts
Thomas Jefferson’s monument, located on the grounds of his Monticello estate.
Jefferson is widely recognized for his unmatched expertise with the written
word. Even in death, Jefferson left no room for interpretation, leaving careful
and precise instructions detailing exactly which words would mark his final
resting place.
The Dolley Madison reverse was designed by Joel Iskowitz of Woodstock, New York,
an AIP Master Designer. The image was sculpted by Don Everhart, a United States
Mint Sculptor-Engraver. The reverse design depicts Dolley Madison, in an act of
patriotism, saving the Cabinet papers and the beautiful Gilbert Stuart portrait
of George Washington, when forced to flee the White House in advance of oncoming
British troops in August 1814.
May 04/07 - OTTAWA
The Royal Canadian Mint unveiled a welcome addition to any piggy bank on
Thursday -- a monster gold coin with a face value of C$1 million that it says is
the world's biggest, purest and highest denomination coin. Weighing in at 100
kilograms (220.5 pounds), the limited edition coin easily dwarfs its closest
rival, the 31 kg (68 pound) "Big Phil," which was made to honor the Vienna
Philharmonic Orchestra and has a face value of a mere 100,000 euros (C$150,000).
The Canadian mint introduced the mega-coin, which is the size of an extra-large
pizza, alongside the one-ounce gold bullion coins it is mass producing at its
Ottawa plant.
Originally designed to promote the new one-ounce coins, the colossal 100 kg
coins will be produced in a very limited quantity. A U.S. precious metals
distributor has ordered three and there is interest in Asia and Europe, the mint
said.
At 53 centimeters (21 inches) in diameter and over 3 cm (1.2 inches) thick, the
massive coins need a high level of hand crafting.
While it has a C$1 million ($901,000) face value, the coin is worth more than
twice that amount given the current gold price of $683.30 an ounce.
The new coins are both adorned with a maple leaf and boast 99.999 percent
purity, a notch above previous purity peaks of 99.99 percent.
"Since the Royal Canadian Mint upped the ante on the rest of the world in 1982,
by raising the purity of gold bullion to four nines pure (99.99 percent) other
nations have come on the scene ... Austria, the United States, and Australia
being the case in point," said mint spokesman Alex Reeves.
"We compete for market share with all of these countries and we decided that the
time was right to do something to stand out from the crowd once again."
Bullion and refinery services generated almost C$281 million in revenue in 2006,
more than half the mint's total sales of almost C$494 million. ($1=$1.11
Canadian) (1 euro=$1.50 Canadian)
