Flight of Gold $5 Half Eagle Turbulent

The flight of the half eagle or gold $5 lasted more than a century, but it ran into plenty of turbulence along the way. Speculators melted or exported most of the pre-1834 gold $5s. A new gold coinage standard increased the number of gold coins in circulation. So did the great California Gold Rush that began in 1848-1849.

But the Civil War erased any progress as all gold coins disappeared from circulation. By the late 1800s, gold $5s turned up mainly in bank reserves and in Christmas stockings. Even so, the denomination lasted until the 1930s, when the Great Depression and a series of executive orders brought the historic series to an end.

Early Birds

An Act of April 1792 authorized a gold $5 coin known as the half eagle. Production of the denomination didn't begin until mid-1795. A shortage of gold and the priority given to other denominations caused the delay.

Moses Brown deposited the first gold at the Philadelphia Mint on Feb. 12, 1795, according to an item in the September 1959 issue of Numismatic Scrapbook Magazine. Joseph Wright made the second deposit, on March 31, 1795. It consisted of 21 ounces in ingot form. In May, the Mint received two additional deposits totaling 59 ounces. In June, Joseph Anthony made three gold deposits amounting to 1,344 ounces.

Engraver Robert Scot designed the first gold $5. The obverse depicts Liberty wearing a Liberty cap. The reverse pictures a young eagle perched on a palm branch, holding a small laurel wreath in its beak. Scot reportedly copied the design from a Roman first-century B.C. onyx cameo.

It may not have been perfect, but it was a start. The Oct. 21, 1795, issue of the Columbian Sentinel, published in Boston, went slightly overboard in its description of the coin . . .

Full story at: Link

United States Mint Announces New D.C. and Territories Quarter Designs for 2009

WASHINGTON - The United States Mint today announced six new designs that will grace the quarters issued next year to honor the District of Columbia and the five United States territories: the Commonwealth of Puerto Rico, Guam, American Samoa, United States Virgin Islands and Commonwealth of the Northern Mariana Islands. The coins will be put into circulation in approximately two-month intervals throughout the year.

"Like the 50 State Quarters® Program before it, these new quarters will encourage Americans to appreciate the unique history of the District of Columbia and the territories of the United States," said United States Mint Director Ed Moy. "While we focus on each one's individuality, we also recognize the common thread that unites us all."

The designs on the reverse (tails side) of the 2009 quarters feature unique, rotating images emblematic of the District of Columbia and each of the territories. The coins will continue to bear the standard inscription E PLURIBUS UNUM and the year, 2009.

The quarter honoring the District of Columbia debuts in late January 2009. The coin's reverse design features an image . . .

Full story: Link

2009 Sacagawea dollars on sale with new reverse design

WASHINGTON - Consumers, financial institutions and businesses can order new 2009 Native American $1 Coins directly from the United States Mint through its Direct Ship Program beginning at noon Eastern Time, on January 2, 2009. The new circulating $1 coins will be available at face value on the United States Mint secure Web site, www.usmint.gov. Telephone orders also will be accepted at the toll-free number, 1-800-USA-MINT (872-6468).

"By ordering through our Direct Ship Program, businesses and consumers have the convenience and flexibility of purchasing manageable quantities of circulating $1 coins at face value," said United States Mint Director Ed Moy.

Like circulating Presidential $1 Coins, the United States Mint will offer the new circulating Native American $1 Coins in 25-coin rolls packaged in quantities of 10 rolls per box with a face value of $250. The coins will not be separated by mint mark. Customers may order a maximum of . . .

Full story at: Link

Where Have All the Coin Clubs Gone?

Coin Clubs have vanished just the way movie theaters, phone booths and some local newspapers have, but not for the same reasons. The Internet, cell phones and advanced technology of television are the primary reasons, but coin clubs had a few other reasons. True, the internet and e-bay may be primary reasons some individuals have decided not to join a club, but club losses began before the internet became a routine household item.

An April 1975 Numismatic News publication that lists all coin clubs by state as well as foreign countries has been part of my library for a long time as occasionally I've used it to search out a coin club's history. In 1975, 67 clubs were listed in my state of New Jersey. Today, 33 years later, there are 18.

Nationally, in 1975, there were 1,986 active coin clubs. Unfortunately, the only document I have to compare that figure is the ANA club membership total of 499 clubs listed as active ANA member clubs. One could estimate another 200 clubs are not ANA members, but I would hope not that many. This is over a 60 percent loss in just over 30 years.

A review of a few other heavily populated states reveals that California went from 173 to 59 clubs, Pennsylvania from 139 to 30, Ohio from 124 to 22, New York from 115 to 21 and Illinois from 109 to 21. Current club totals are . . .

Full story at: Link

New Coins Commemorate Year of the Ox

On Jan. 26 of solar year 2009 the new Lunar Year of 4707 will dawn. It is designated a Year of the Ox. It is the second year in the new 12-year lunar cycle inaugurated last February. For the Vietnamese it is the Year of the Water Buffalo.

Once again mints around the world are marking the occasion with an abundance of new coins. Most issues are parts of ongoing 12-year series. Although lunar zodiacal issues now provide a major collecting field in their own right, the main significance of the coins, particularly for the Chinese, remains in giving (and in receiving) them as gifts.

Lai shi money is one of the more important traditions of the first day of the New Lunar Year. The cash commonly arrives in red envelopes, gifted by adults to children or other junior relatives. The red symbolizes good fortune, and the amount of money is vital in letting the recipient know the depth of their tie with the donor. Traditionally, a suitable sum involves numerous auspicious eights in its total. And today smart mints package their lunar coins in red or attempt to involve "8" in one way or another, often in the mintage.

Over-eager, cheeky youngsters in Chinese households will greet their elders at New Year with, "Gongxi facai, hongbao nalai." This freely translates as "Live long and prosper. Now give me the red envelope."

For those who need to know, 4707 is the 27th year of the 79th 60-year zodiacal lunar cycle. It is an Earth Ox or Ji Chou year.

In general, the Ox people of this world are stable and persevering. They are typically . . .

Full story at: Link

As a tourist site, Federal Reserve is worth its weight in gold

Amid these troubled economic times, a trip to the central bank is an eye-opening glimpse into the world of currency. Plus, don't you want to see the big vault?

The stock market was in the middle of another spectacular gyration -- up more than 500 points one day after dropping more than 400 -- and President Bush had come to try to calm Wall Street, urging world leaders not to over-regulate free markets. The economic crisis was palpable throughout Manhattan's downtown financial district, yet the atmosphere inside the Federal Reserve Bank of New York was eerily serene, almost like a church.

It was fitting, for money is worshiped at the Fed, as the central bank is known, and an outing to the nation's central bank feels like a trip to capitalism's cathedral. Where the bodies of saints would otherwise lie, the bank's catacombs are stuffed with about $180 billion in gold bars -- more yellow metal than is stowed in Ft. Knox, and almost a quarter of the world's supply.

As New York tourist destinations go, the Liberty Street historic landmark attracts a fraction of the visitors to the city's more famous spots. But the bank plays a much more vital part in our daily lives: The Fed implements monetary policy and, in the New York building's open market trading floor, handles billions of U.S. government debt. It's all a part of how the government is trying to rescue the economy, primarily by dropping interest rates.

The bank's free . . .

Full story at: Link

Treasured coin finds

You'd be amazed what you can find on a walk - a boy and his dad prove it

Every day, Keith Severin and his 8-year-old son, Adrien, go on a treasure hunt.

They take a walk somewhere in their Antelope neighborhood, or wherever they happen to be that day, and keep their eyes open for treasures.

As a kid, almost everything is a treasure to Adrien. He never met a stick he didn't like.

"When we first started, he would pick up everything," Severin said.

They set out Jan. 1 with a plan to go out every day of 2008 for at least 15 minutes.

They stuck with it and over the course of the year have stumbled upon quite a bit of treasure.

On the refrigerator at home is a juice jug full of thousands of pennies they've found. There's also a big Bubba Gump beer glass full of other change, nickels to a Sacagawea dollar.

There's a small collection of older coins – including a penny from 1928 and some silver dimes – and a handful of foreign coins and Scandia tokens.

In a can, Keith Severin keeps a small collection of Ben Franklins – $100 bills that represent the proceeds from things found and sold.

That includes cans, bottles, a golf bag pull cart, a silver necklace and lots and lots of golf balls, collected at nearby Cherry Island Golf Course.

They passed the $1,000 mark early in December – all from walks as short as 15 minutes.

It hasn't always been fun. They head out in whatever weather presents itself. Good thing it's California.

They went out one recent December day when . . .

Full story at: Link

Mexico wants to shrink coins to save a few cents

MEXICO CITY – Does it feel like your money is shrinking nowadays? In some countries around the world, it really is getting smaller.

Mexico, following the lead of several countries around the world, has proposed making coins smaller and using cheaper metals to keep cost low amid the financial crisis and volatile metal costs.

The Mexican Senate on Thursday approved President Felipe Calderon's bill to modify the country's coinage. The plan awaits approval from the lower house of Congress, which will vote in February.

"We're being hit hard economically, so we're looking to spend more efficiently," said Enrique Lobato, director of cash programming for Mexico's central bank.

The Mexican economy is running a 1.8 percent budget deficit, the country's first in years, and next year's 3 trillion peso ($224 billion) budget will be tight.

Lobato said under Calderon's proposal, the bank could save around 200 million pesos (US$14.7 million) per year in production costs.

Total production costs on coins this year reached nearly 1 billion pesos (US$73.5 million,) he said. Costs include the price of metals and minting the coins. The bank produces around 1.5 billion coins each year.

Mexico has eight kinds of coins in the following amounts: . . .

Full story at: Link

Abraham Lincoln Commemorative Silver Dollar Coin Designs Unveiled on 145th Anniversary of the Gettysburg Address

GETTYSBURG, Pa. - United States Mint Deputy Director Andrew Brunhart today unveiled designs for the 2009 Abraham Lincoln Commemorative Silver Dollar during the annual Dedication Day Ceremony at Soldiers' National Cemetery in Gettysburg, Pennsylvania. The unveiling took place on the 145th anniversary of the dedication of Soldiers' National Cemetery, where Abraham Lincoln delivered his famous Gettysburg Address in 1863. Renowned historical documentary director Ken Burns, Lincoln Fellowship of Pennsylvania Vice President Ronald L. Hankey and Abraham Lincoln Bicentennial Commission (ALBC) Co-Chairman Harold Holzer also participated in the ceremony.

"It is my great honor to represent the United States Mint on the 145th anniversary of Abraham Lincoln's Gettysburg Address," Deputy Director Brunhart said. "It is also my great privilege to introduce the designs for the 2009 Abraham Lincoln Commemorative Silver Dollar to the American people."

The obverse (heads side) of the Abraham Lincoln Commemorative Silver Dollar was created by United States Mint Artistic Infusion Program Master Designer Justin Kunz and sculpted by United States Mint Sculptor-Engraver Don Everhart. The image, symbolic of Lincoln's strength and resolve, was inspired by Daniel Chester French's famous sculpture of the President that sits inside the Lincoln Memorial in Washington, D.C. Inscriptions on the obverse are LIBERTY, IN GOD WE TRUST and 2009.

The coin's reverse (tails side) was designed and executed by United States Mint Sculptor-Engraver Phebe Hemphill. The design features the following inscription . . .

Full story at: Link

New Lincoln Cents Spur Impossible Dream

You know you are getting old when you remember the last time the Lincoln cent had a design change. It's almost like reaching an age where you get your first AARP solicitation in the mail as every 50 years we seem to have a Lincoln design change and that looks like it will happen again.

Of course, the legislation involving the Lincoln cent that was part of the Presidential $1 Coin Act of 2005 does leave the door open to keeping the current design in 2010 after the commemorative designs in 2009, but in fact if you read that legislation, a change seems more likely.

Regarding the Lincoln cent reverse the law states, "The design on the reverse of the 1-cent coins issued after Dec. 31, 2009, shall bear an image emblematic of President Lincoln's preservation of the United States of America as a single and united country."

Obviously that wording leaves the issue wide open, but many would be hard-pressed to see how the Lincoln Memorial in Washington fits into the spirit of the new law.

In fact, there are other elements to the new law that are interesting and potentially a great deal of fun if officials truly get into the spirit of the anniversary. Already we are sure that there will be four reverses on the Lincoln cents of 2009, with one featuring his birth and early childhood in Kentucky. Another has his formative years in Indiana. A third features his professional career in Illinois and the final one will depict his presidency in Washington, D.C. with all lasting just one year for 2009.

Certainly supplies produced will be sufficient to make them a . . .

Full story at: Link

One-of-a-kind rare coin returns to New Orleans

The airport is often about a clutching goodbye, but one day in September it was about a homecoming.

That was the day New Orleans coin collector and dealer Paul Hollis walked through Armstrong International Airport in Kenner, flanked by an armed security guard and a State Police escort. Hollis walked through the airport, carrying in his hand a one-of-a-kind coin, sold at auction two years ago for a price that reached into seven figures.

“Well, traveling with a coin worth millions of dollars is, I mean it’s fun, but at the same time, you’ve got to be a little guarded,” Hollis said.

He arranged to have the coin shown here in New Orleans on loan, and flew to Florida to pick it up from an anonymous collector, then held it tightly in his hands for the next five hours.

“I'm not putting it in my sock,” he joked. “I'm not putting it in my briefcase. I'm going to carry this coin the entire way back to New Orleans.”

A short drive later, from the airport to the French Quarter and the Old U.S. Mint, meant the coin was . . .

Full story at: Link

You may be sitting on more money than you think

You might consider taking a closer look at all that loose change in your pockets, purses, wallets and sofa cushions. You see, there may be more cash in those coins than you think.

At bustling Renton Coin Shop, owner Steve Campau and his staff are literally being nickeled-and-dimed, and quartered and dollared!

Forget face value. Some of the silver coins they see are worth $7.50!

"Dimes, quarters or half dollars that were minted in 1964 or before have 90 percent silver in them," Campau said.

If you come across silver coins minted in 1964 or earlier, don't spend them. They're worth more than seven times their face value. People who've been stashing silver coins are cashing in.

But you don't have to be a collector to make a profit. Collect old foreign coins? Most have little collector's value at $2.35 per pound.

Everyday change can hold a hidden windfall. Look for coins with . . .

Full story at: Link

Mystery of the Lesher dollars

It's no secret that Victor and Cripple Creek produced millions in gold from mines dug on the back side of Pikes Peak.

Starting with Bob Womack's discovery in Poverty Gulch in 1890, the Cripple Creek district exploded into a world-famous mining camp. Even today, mining goes on in Victor - using a cyanide drip to extract gold. But some say there is another fortune to be had.
Silver.

Not buried raw metal awaiting prospectors with picks and shovels.

Silver, as in hundreds of coins minted in 1900-01, distributed mostly in Victor and said by some to be missing ever since. Coins, known as Lesher dollars, which could be worth hundreds of thousands to the lucky person who discovers the stash. And it may be as easy to find as looking in . . .

Full story at: Link

Last Chance for Gold & Silver U.S. Mint Commemorative Bald Eagle Coins

PIGEON FORGE, Tenn.--(BUSINESS WIRE)--The non-profit American Eagle Foundation announced today that the United States Mint's 2008 Bald Eagle Commemorative Coins continue to be a popular seller, but will only be available for 25 more days.

The gold five-dollar, silver dollar and clad half-dollar coin collection will no longer be sold again by the Mint after December 12, 2008.

The special commemoratives officially celebrate the upcoming 35th anniversary of the Endangered Species Act on Dec. 28th and the bald eagle’s comeback to America’s skies.

"This is the last chance for collectors and investors to order these . . .

Full story at: Link

Treasure hunters boost gold finds

An increase in the the popularity of metal detectors helped boost the number of treasure finds last year.

A total of 749 objects were reported found in 2007, according to the Treasure Annual Report.

The report also includes all finds which have passed through the Treasure Process in 2005 and 2006.

They include a gold Iron Age choker, valued at £360,000, which was found by a man searching for remains of crashed WWII aircraft in Nottinghamshire.

The choker - the so-called Newark Torc - is the most expensive single piece of treasure found by a member of the public in over a decade.

Roman hoard

Made of a combination of gold and silver, it was was found by Maurice Richardson, a tree surgeon and metal detecting enthusiast, in 2005.

Although torcs have been found in the UK, most particularly in Norfolk, it is the first one to be discovered in the Nottinghamshire area.

Other valuable objects unearthed by the public include a Roman hoard of more than 3,500 coins . . .

Full story at: Link

Odyssey Marine Exploration Asserts Position in $500 Million Shipwreck Treasure from Black Swan Site

TAMPA, Fla.--(BUSINESS WIRE)--Odyssey Marine Exploration, Inc. (Nasdaq:OMEX - News), the world leader in the field of deep-ocean shipwreck exploration, yesterday filed its Response to Spain’s Motion to Dismiss or for Summary Judgment in the “Black Swan” admiralty case pending in U.S. Federal Court in Tampa, Florida. In its pleadings, accompanied by over 1,000 pages of supportive documentation and imagery, Odyssey asserts that the “Black Swan” site and the cargo recovered do not represent an entity to which sovereign immunity would apply. Spain had argued in September that the U.S. Federal Court did not have jurisdiction over the case and that the case should therefore be dismissed.

Based on Odyssey’s exhaustive research and evaluation of all data gathered, Odyssey’s filing concludes that even if the site discovered is eventually proven to be associated with the Nuestra Señora de las Mercedes, which is unclear from the available evidence, the ship should not be accorded sovereign immunity. Furthermore, the vast majority of the cargo aboard was commercial cargo that was privately owned and was recovered without disturbing any ship remains.

“I am really pleased that through our filings, the public now can finally see the facts in this case for themselves. The historical, legal, numismatic and archaeological experts have . . .

Full story at: Link

Collecting pieces of history: Man completes state quarters coin collection

Last month at the Merced Mall Ed Miranda completed a task he has worked on for the past three years.

“I said, ‘It finally came.’ I was jumping up and down and I almost forgot my bag of clothes that I had bought,” Miranda, a Los Banos resident, said.

A startled saleswoman asked him what had come. He replied that the change she just gave him included quarters from Hawaii and Alaska. The 79-year-old now had the final two coins he needed to finish his collection of quarters from all 50 states.

In about 2005 Miranda decided to start his coin collection. He didn’t order them through the mail, and only once did he give into the temptation to visit a coin shop. Miranda obtained the coins the hard way, by adding to his collection through everyday transactions. He also . . .

Full story at: Link

U.S. Mint "Last Chance" Sale!

The U.S. Mint is having a "last chance" sale! When they were cleaning out the Order Fulfillment Center in preparation for a move to a new facility, they found loads of forgotten old coins and sets and trinkets and, well...

Full story at: Link

The Most Important New Orleans Gold Coin

After a probable absence of over a century, perhaps the most important New Orleans gold coin in existence is coming back to its ancestral home. My friend Paul Hollis, a coin dealer from Metairie (a suburb of New Orleans), has arranged for the unique Proof 1844-O eagle to be placed on exhibit at the New Orleans mint. This coin, with an estimated value of $2.5 million, goes on public display November 1 and will also be taken around Louisiana on tour by Hollis.

The New Orleans Mint began producing coins in 1838. The very first issue struck by this mint was a group of 20 half dollars to inaugurate coinage and a small group of Proof half dollars were made in 1839 (plus at least one Dime dated 1839-O is known that has been designated a “Specimen” by NGC). So, we know that the New Orleans mint had experience with making Proof coins and that the quality of these was comparable to that seen at the Philadelphia mint.

In 1844, the New Orleans mint produced at least one example of a Proof half eagle and eagle. Remarkably, both still exist and, even more remarkably, both are superbly preserved. Why were they produced and who were they struck for?

Unfortunately, contemporary documentation does not exist that gives the definitive answer to these questions, so we have to make some assumptions. I think it’s safe to say that the Proof 1844-O gold set was struck in commemoration of either a special event or, more likely, a visit to the Mint by some special VIP or dignitary. My guess would be that they were made for personal presentation to President John Tyler.

What is interesting about these . . .

Full story at: Link

Investing in coins, stamps, timber and land...

When equity markets yo-yo, the housing market grinds to a halt, banks buckle and commodities crash, it is tempting simply to bail out of everything and hold your cash in a bag under the floorboards. But if you are looking for less extreme responses to the economic crisis, there's a strong argument for diversifying a chunk of your portfolio into assets with low correlation to other beleaguered sectors.

We have rounded up six options at different entry levels. Some are designed specifically to take advantage of weak markets, others play on enduring trends, such as global food demand or the international shift to sustainable wood sources, while others are simply less widely recognised as investment vehicles.

Of course, many alternative investments are relatively high risk, and they are not necessarily protected by Financial Services Authority regulations, so it is important to understand exactly what you are taking on before you part with your money. . .

Full story at: Link