Unique Pattern 1814 Platinum Half Dollar Certified by PCGS
One of the most intriguing — and mysterious — pattern coins ever produced by the United States is now in a Professional Coin Grading Service holder: the unique 1814 platinum Capped Bust half dollar with nearly three dozen “P” punch marks. It is graded PCGS Secure Plus XF40.
PCGS will use a “new” Judd reference number, Judd-44a, to differentiate it from any other known platinum 1814 half dollar patterns assigned J-44 that do not have punch marks or the word, “Platina,” engraved on the reverse. This particular coin was pictured in the original edition of the reference book, Pattern, Experimental & Trial Coins, authored by J. Hewitt Judd, MD, and the PCGS insert label identifies it as “Judd Plate Coin.”
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Congress looks at doing away with the $1 bill
By KEVIN FREKING | Associated Press
WASHINGTON (AP) — American consumers have shown about as much appetite for the $1 coin as kids do their spinach. They may not know what’s best for them either. Congressional auditors say doing away with dollar bills entirely and replacing them with dollar coins could save taxpayers some $4.4 billion over the next 30 years.
Vending machine operators have long championed the use of $1 coins because they don’t jam the machines, cutting down on repair costs and lost sales. But most people don’t seem to like carrying them. In the past five years, the U.S. Mint has produced 2.4 billion Presidential $1 coins. Most are stored by the Federal Reserve, and production was suspended about a year ago.
The latest projection from the Government Accountability Office on the potential savings from switching to dollar coins entirely comes as lawmakers begin exploring new ways for the government to save money by changing the money itself.
The Mint is preparing a report for Congress showing how changes in the metal content of coins could save money.
The last time the government made major metallurgical changes in U.S. coins was nearly 50 years ago when Congress directed the Mint to remove silver from dimes and quarters and to reduce its content in half dollar coins. Now, Congress is looking at new changes in response to rising prices for copper and nickel.
At a House subcommittee hearing Thursday, the focus was on two approaches:
—Moving to less expensive combinations of metals like steel, aluminum and zinc.
—Gradually taking dollar bills out the economy and replacing them with coins.
The GAO’s Lorelei St. James told the House Financial Services panel it would take several years for the benefits of switching from paper bills to dollar coins to catch up with the cost of making the change. Equipment would have to be bought or overhauled and more coins would have to be produced upfront to replace bills as they are taken out of circulation.
But over the years, the savings would begin to accrue, she said, largely because a $1 coin could stay in circulation for 30 years while paper bills have to be replaced every four or five years on average.
“We continue to believe that replacing the note with a coin is likely to provide a financial benefit to the government,” said St. James, who added that such a change would work only if the note was completely eliminated and the public educated about the benefits of the switch.
Even the $1 coin’s most ardent supporters recognize that they haven’t been popular. Philip Diehl, former director of the Mint, said there was a huge demand for the Sacagawea dollar coin when production began in 2001, but as time wore on, people stayed with what they knew best.
“We’ve never bitten the bullet to remove the $1 bill as every other Western economy has done,” Diehl said. “If you did, it would have the same success the Canadians have had.”
Beverly Lepine, chief operating officer of the Royal Canadian Mint, said her country loves its “Loonie,” the nickname for the $1 coin that includes an image of a loon on the back. The switch went over so well that the country also went to a $2 coin called the “Toonie.”
Rep. Bill Huizenga, R-Mich., affirmed that Canadians have embraced their dollar coins. “I don’t know anyone who would go back to the $1 and $2 bills,” he said.
That sentiment was not shared by some of his fellow subcommittee members when it comes to the U.S. version.
Rep. Lacy Clay, D-Mo., said men don’t like carrying a bunch of coins around in their pocket or in their suits. And Rep. Carolyn Maloney, D-N.Y., said the $1 coins have proved too hard to distinguish from quarters.
“If the people don’t want it and they don’t want to use it,” she said, “why in the world are we even talking about changing it?”
“It’s really a matter of just getting used to it,” said Diehl, the former Mint director.
Several lawmakers were more intrigued with the idea of using different metal combinations in producing coins.
Rep. Steve Stivers, R-Ohio, said a penny costs more than 2 cents to make and a nickel costs more than 11 cents to make. Moving to multiplated steel for coins would save the government nearly $200 million a year, he said.
The Mint’s report, which is due in mid-December, will detail the results of nearly 18 months of work exploring a variety of new metal compositions and evaluating test coins for attributes as hardness, resistance to wear, availability of raw materials and costs.
Richard Peterson, the Mint’s acting director, declined to give lawmakers a summary of what will be in the report, but he said “several promising alternatives” were found.
Informative Coin Series – U.S. TWO CENT PIECES 1864-1873
Most everyday Americans know the denominations on their coins. These include the penny, the nickel, the dime, the quarter, and the dollar. Occasionally, they even know about the Half Dollar. However, very few people that I have met in life know about a short series of coins that ran from the peak of the civil war in 1864 until the middle of the reconstruction era in 1873. This run of 9 years is so short, that the design on these coins never changed! Also, not many people know why this coin is one of the most significant coins to ever be commonly circulated in the United States, however when you find out, you will never forget. This coin is none other than the fabled Two Cent Piece.
The history behind these mysterious coins is that when the Civil War broke out, people began hoarding coins. There seemed to be no way out of this crisis, so legislation was passed allowing for the minting of two cent coins. Then there was a problem, who would design these coins in the middle of the Civil War? In the end, the chief engraver, James B. Longacre, was selected to design these coins. Now many of you might be saying that you heard that name before. I wouldn’t be surprised if you had. James B. Longacre is also the designer of the Indian Head Cent, the three cent piece, and the Shield Nickel.
At this point, we will all wonder what the significance of this little coin is on our nation’s coinage. In fact, the significance of this coin is so immense that NONE of our modern day coins would be the same without it. While designing the coin, Longacre had a radical new idea. Above the shield on the coin, he added a banner. And on the banner he added the never before seen words “In God We Trust”. He thought that the war torn country needed some support from the heavens so the added this motto to the coin. Little did he know that in the next century, EVERY single United States coin would have his motto.
The design itself is very simple. On the obverse of the coin, you have the Union shield adorned with laurels. The motto “In God We Trust” is floating on a banner above the shield. Underneath the shield you have the date. This makes for an uncluttered obverse as well as a beautiful design. On the reverse, you will see a wreath surrounding the words “2 Cents” which are the main focal points on the reverse of the coin. On the edge are the words “United States of America”. On this coin, both sides are very simple yet elegant causing for a visually pleasing coin to look at.
You may now think that this is an extremely rare piece. Not at all! The 1864 issue alone had a mintage of 20,000,000. An 1864 coin in fine condition would have a retail value of only $25! If you really want to own an affordable piece of history, I would definitely recommend the Unique and exquisite 2 cent piece designed by the world renowned James B. Longacre.
- Mark Umansky (tzarmarko)
If you are in Toledo Ohio area you’ll be happy to find that Bedford Coin is ready to give you a free appraisal on your Two Cent Pieces & answer any questions you may have.
If you would like to know more contact you local Toledo Coin dealer , Bedford Coin or referance Wikipedia here-
ANA Board of Governors Supports Updates to Hobby Protection Act
Members encouraged to call their congressional representatives
The American Numismatic Association Board of Governors voted unanimously to issue a resolution of support for a bill that will extend and strengthen provisions of the Hobby Protection Act, during an Aug. 10 meeting during the World’s Fair of MoneySM in Philadelphia.
The House of Representatives bill, HR-5977, will enable citizens to take legal action against and recover damages from those who sell counterfeit coins. It expands targets of litigation to include “any person” who provides substantial assistance or support to any manufacturer, importer, or seller “knowingly engaging in any act or practice that violates the Act.” It also adds trademark violation provisions to criminalize the counterfeiting of certification service packaging and capsules.
Barry Stuppler, chairman of the Gold and Silver Political Action Committee, spoke at the meeting and encouraged members to call their congressional representatives or speak to them personally, as many are holding meetings in their home districts during the August congressional break.
To learn more, go to www.ictaonline.org. Click on “What’s New?” to read a copy of the bill and find out how to contact your congressman.
Executive Director report
The ANA’s new Executive Director Jeff Shevlin delivered an update on the ANA website, noting that the current site had been stabilized. Shevlin will soon ask technology companies to present proposals on developing a new site. The association plans to conduct a security assessment on its current site and look into server hosting options, he said.
Shevlin also announced that Stack’s Bowers Galleries was named the auctioneer for the 2013 National Money Show, May 9-11 in New Orleans, following a board vote during executive session.
New exhibit awards
The board unanimously approved a $10,000 donation on behalf of the Society for United States Commemorative Coins, which will be used to create an award for exhibits on U.S. commemoratives and related items.
“I think it will be a very interesting exhibit class,” Governor Jeff Garrett said. “There are a lot of possibilities in this category.”
An official name for the award has yet to be announced.
Hall of Fame
The board unanimously approved a motion by Cliff Mishler and Walter Ostromecki to revise the Numismatic Hall of Fame constitution, bylaws and election procedures as presented by the Council Committee. It is the first major revision since guidelines were established in the 1960s.
One major change is the creation of two panels, one for modern-era numismatists and one for historical figures, responsible for the nomination and election of inductees. Modern-era numismatists will be elected in odd-numbered years, and historical figures in even-numbered years.
“Initially, when the Hall of Fame was established, quite a few 19th Century individuals were recognized, but they have been lost, in favor of popular contemporary numismatists,” Mishler said. “If there aren’t strict criteria established, it becomes a popularity contest.”
A motion by Scott Rottinghaus and Mike Ellis led to unanimous approval of the Library Archive Policy, which will help to guide the library staff in determining materials suitable for inclusion in the library’s archive collection.
A motion by Greg Lyon and Wendell Wolka to accept the fiscal year end 10-31-2011 audited financial reports passed unanimously.
A proposal to change the pricing structure for World’s Fair of Money banquet tickets was withdrawn following board discussion.
The American Numismatic Association is a congressionally chartered nonprofit educational organization dedicated to encouraging people to study and collect money and related items. The ANA helps its 28,000 members and the public discover and explore the world of money through its vast array of education and outreach programs, as well as its museum, library, publications, conventions and seminars. For more information, call 719-632-2646 or go to www.money.org.
818 N. Cascade Ave. • Colorado Springs, CO 80903 • (719) 632-COIN (2646) • www.money.org
Informative Coin Series -U.S. AMERICAN SILVER EAGLE BULLION
With a rapidly appreciating precious metal markets, individuals are looking for more ways to invest their money in something valuable which has a potential to hold & possibly appreciate. In Toledo Ohio, many coin dealers have been servicing clients as the popularity in gold and silver coins have skyrocketed. Silver bullion products are a nice way to enter the investment market without having to spend a lot . The average price of silver in today’s market is around $30 per ounce & American Silver Eagles command a premium of about $4 over the spot price of silver per ounce. Many individuals start by attending shows and private events where gold and silver coins are showcased, however there is a contingent of collectors who utilize the services of coin dealers in Toledo Ohio to get free appraisals on their investment. One of the most highly sought after silver pieces reside in the category of bullion coins. These bullion coins are increasingly popular due to the fact that their value is held within their metal substance. One such coin is the American Silver Eagle bullion coin.
This increasingly popular coin features a Walking Liberty design that was created by Adolph a Weinman on the obverse & an Eagle with shield on the reverse. The American Silver Eagle dollars are the only valid legal tender silver bullion coins issued by the United States mint. This is unique for a few reasons. One of the most intriguing factors about this coin is that the United States government actually guarantees the weight, content and purity levels of the American Silver Eagle dollar. The fact that the US government stands behind and guarantees this coin, collectors & investors in Toledo Ohio can take comfort in the fact that they are dealing with a legal & gaurenteed product . Many collectors see these coins as an opportunity to store value and in many cases, notice an appreciation in value over time. This particular coin has found itself to become a favorite iconic symbol of the United States and its rich and storied history holds real significance with collectors and investors.
There has been an added push by collectors from all over the world who want to get their hands on a part of United States history. Because of the high demand for the American Silver Eagle bullion coins, they can be easily bought and sold and have proven to be an extremely worthwhile investment over time. It is not too late to get in on the frenzy. Bedford Coin & Jewelry will be happy to not only appraise your existing coins and offer you a top market value for your items but we are her to also sell you American silver Eagels In today’s turbulent economy owning gold and silver has never been such a sound investment strategy. Over the past five years both of these asset classes have seen themselves appreciate immensely. If you want to take part in this ever-increasing market for silver, take a look at the American Silver Eagle bullion coin.
You can learn more by contacting Bedford Coin or a local Toledo Coin Dealer .
Another nice resource is Wikipedia.
Informative Coin Series – U.S. LIBERTY CAP LARGE CENTS 1793-1796
U.S. LIBERTY CAP LARGE CENTS 1793-1796
The US liberty cap large cents of the time period from 1793 to 1796 represent one of the great classics of the early American copper coin era. Unfortunately this liberty cap coin had a short mintage timespan. The striking period for this coin lasted only three short years however in the time between 1794 and 1795 the coin was produced thorough the entire year. For this variation of coin and with such a short minting history the liberty cap large cent has numerous dissimilarities to its design. Many coin dealers have sought after this rare find. The liberty cap cent is one of the hardest to find coins of the 1793 US coin type. However it’s sister coin, the 1794 is much more easily obtained by serious collectors.
These beautiful copper coins were created by Joseph Wright. In August of 1793, Joseph began working as an engraver and die sinker at the US mint. Mr. Wright received his formal art education in England and was best known for his works of Pres. George Washington and his wife. Sadly Joseph Wright succumbed to the complications of yellow fever and passed away in the late summer of 1793. Some coin dealers in Toledo, OH have gathered information regarding this and other popular US coin pieces. These stunning works of art are a great representation of the storied history of the United States mint and its impact on the economy as we know it. As far as the US liberty cap large cent is concerned it held a tremendously important role for individuals living in late 18th century America. Half cents and cents played a huge role in commerce as larger denomination coins were traditionally not employed for transactions.
There exist many different varieties for this series of coin. As history recorded each die was made by hand and took many hours to form to completion. Each die artists have unique artistic flair to the coin dies that they produced. Two of the workmen who are heavily involved in the operations during these time periods were Robert Scott and John Smith Gardner. In addition to that each of these individuals had assistants who also aided in the production of their work. Studies have been devoted to each of these individuals as their individuality shows through in the craftsmanship of these coins. There are slight variations in each die in terms of the placement of the lettering, date, in addition to the general execution of the portrait itself. These differentiations are readily identified by the terms “head of” 1793, 1794, or 1795. The Redbook is known to have the use editions listed as individual varieties of the liberty cap large cent.
With this particular coin being struck during only four respective timeframes, coin dealers, appraisers, and collectors have been able to build collections devoted to this specific series. It remains a challenge for coin collectors and dealers in Toledo Ohio to establish an entire series of these coins however some have come close. These unique works of art will continue to be popular in the eyes of collectors and coin enthusiasts across the world.
When looking for a liberty cap cent for your collection, it’s important to understand that the ideal specimen to be of high quality and will be free of any environmental damage. The piece will not be corroded or have any on natural discoloration to the metal. When addressing the strike ensure that the coin is well centered and its wear is distributed evenly. All of these factors come into play when assessing the value of these coins from a coin dealer’s perspective. Avid collectors are also cautioned to look out for any coins which have been doctored to cover up holes and flaws. If you are in Toledo Ohio area you’ll be happy to find that Bedford Coin is ready to give you a free appraisal on your liberty cap cents & answer any questions you may have.
If you would like to know more contact you local Toledo Coin dealer or referance Wikipedia here-
1840 (O) 50C Reverse of 1838 Seated Liberty Half Dollar, A date without a home.
A hard to come by issue, the 1840 Medium Letters Seated Liberty Half was struck at the New Orleans Mint without a mint mark , using an old open claws reverse die intended & possibly used for 1839 O Capped Bust Reeded Edge Half Dollar.
The John Reich obverse & reverse designed dies & of the Capped Bust Half had been sent to New Orleans in 1839 . The only mint marked Capped Bust halves had the “O” mint mark on the obverses of the coins. One of the reverse dies in New Orleans was saved for use in 1840.Back then the government was a bit more cost conscious with the tax payers money & did not like to waste perfectly good dies.The old-style reverse die was paired with the newly designed but 2nd year Seated Liberty obverses. What came of this new pairing was a new obverse that carried the mint marks on the reverse; but an older reverse die that put the mint marks on the obverse. Thus flip flopping where the mint marks should have been. The result is referred to as the type III, 1840 (O) with no mint mark. The noticeable difference is not that it doesn’t have a mint mark since the coins minted in Philadelphia that didnt have a mint mark . But by the size of the Eagle & letters on the reverse.Another way to identify this type is by the reverse having multiple die breaks that are always seen on this type & the open claws of the eagle. This unique year has halves with the reverse of coinage like that of 1838 & is usually referred to as the reverse of 1838 even though the coins came from 1839 dated dies. One of my favorite varieties & always a joy to come across.
If you ever come across this variety give us a call or if you live in and around the Toledo , Ohio area stop by & see us. We here at Bedford Coin would love to take a look at it for you & give you an appraised value. We buy & sell Gold ,Silver ,Scrap Jewelry, Rare Coins & Currency. Stop by our web store & see our new offerings on Silver Bullion & 90% “junk” coinage. We are open Monday through Friday 9 am to 6 pm & on Saturday from 10 am to 1 pm. If you need a special appointment give us a call at 1-734-863-1005 . We are located just over the Michigan border in Temperance ,MI at 7400 Lewis Ave. In Bedford Square. We look forward to serving you.
If you would like to learn more contatct you local Toledo Coin Dealer or visit Wikipedia here-
Informative coin series – Half cents 1793-1797
The US liberty cap half cent was the first United States half cent coin produced. The first minting occurred in 1793. There are a number of distinguishing features of this coin and it shares similarities and design features with many of the cents of that time period. These coins feature a bust of Lady Liberty in which a “freedom” cap is supported above her head. In this variation of the half cent coin Lady Liberty faces the left side and the words liberty are inscribed above her portrait. The minting date of the coin is displayed below Lady Liberty’s bust. On the reverse side of the coin a nicely designed wreath is displayed which includes the denomination of coin. In between the two sides of the wreath are the words half cent. In addition to this inscription surrounding the wreath there is the lettering which reads United States of America. At the very bottom of the wreath is a fraction representing the coin’s value in relation to one dollar. This is represented by a 1/200 signifying the numerical value. Around the actual edge of the coin is lettering which reads 200 for a dollar. This means that there are three numerical identifiers that explicitly state the value of the piece.
Many coin dealers will offer free appraisals and gladly inform you of the value of your liberty cap half cents. In Toledo, these grading professionals can offer key insights into the factors that play into and directly affect the value of the coin itself. Obvious issues on a coin such as a high degree of wear and tear or cleaning will to be worth less. The high relief type which were minted in the 1793 to 94 timeframe will typically indicate more wear on the reverse side of the coin as opposed to the front. Later strikes were found to distribute there wear more evenly and retain the artistic quality of the piece. The coins desing was produced in a lower relief in the later years of the series .In Toledo a few coin dealers and added coin enthusiasts hunt year-over-year for mint state half cents of the 1793 to 97 type. These issues are so rare that very few collectors will ever own one far less come across one in their coin collecting. More serious collectors focus in on certain dates and time frames whereas more traditional individuals will seek them out by type alone.
When looking for a liberty cap half cent piece for your collection, it’s important to understand that the ideal specimen to be of high quality and will be free of any environmental damage. The piece will not be corroded or have any on natural discoloration to the metal. When addressing the strike ensure that the coin is well centered and its wear is distributed evenly. All of these factors come into play when assessing the value of these coins from a coin dealer’s perspective. Avid collectors are also cautioned to look out for any coins which have been doctored to cover up holes and flaws. If you are in Toledo Ohio area you’ll be happy to find that Bedford Coin is ready to give you a free appraisal on your liberty cap half cents & answer any questions you may have.
If you would like to know more contact you local Toledo Coin dealer or referance Wikipedia here-
The pieces are all falling in place.
Welcome to Bedford Coin’s Blog. It has been a long journey from starting years ago as a Numismatic apprentice with the large coin company HCC rare coins that is located in Holland Ohio to becoming the owner of my own coin shop in Bedford MI. Many long days & nights were spent studying what coins should look like, honing my grading skills ,appraising collections & purchasing them as well .All while learning the trade from some great mentors.
Dean Stoner,Brian Brown & even Howard Cook ,Thank you for the knowledge you have given me over the years.