Mar 25, 2020 | ACEF/ACTF, News
The March 24, 2020 consumer/investor advisory statement below is from Doug Davis, Director of the Anti-Counterfeiting Task Force of the non-profit Anti-Counterfeiting Educational Foundation (www.ACEFonline.org). Mr.Davis is a former Texas police chief.
The 11-year low in silver and the uncertainty of the economy during the COVID-19 crisis has triggered the rush to buy silver across the United States. The Anti-Counterfeiting Task Force (ACTF) has been monitoring the situation closely and within the last several days has identified the launching of 18 new websites and different platforms selling counterfeit coins and precious metals. The manufacturers of counterfeit coins and precious metals, along with criminal networks and enterprises are seizing the opportunity to target collectors, investors and the elderly who are seeking an alternative to conventional investments.
ACTF, in partnership with U.S. Treasury Office of Inspector General and different levels of Customs Border and Protection, are analyzing and evaluating intelligence to identify the sources of manufacturing and the businesses or individuals who are importing counterfeit coins and precious metals into the U.S. marketplace with the intent to defraud.
Data gathered and analyzed from these sites and platforms which have been identified, shows they are utilizing a variety of tactics to exploit, advertise and promote specifically counterfeit silver and bullion coinage. Their strategy is to immediately entice the novice and uneducated into the world of numismatics and precious metals, in order to capitalize on market fluctuations and fear of the current world crisis.
Individuals who are considering the purchase of coins and precious metals should only deal with reputable, knowledgeable experts, such as members of the Accredited Precious Metals Dealers program (www.APMDmembers.org) and the Professional Numismatist Guild (www.PNGdealers.org).
Buyers should also be cognizant of the numerous red flags employed by criminal opportunists that show a pattern of misrepresentation with the intent to defraud the buyer, such as:
- Pricing well below spot or melt
- Morgan and Peace Dollars $2.99 with picture and description indicating you will be receiving an uncirculated coin
- Silver Eagles below spot – proof and uncirculated
- Carson City Dollars $19.95 using picture of NGC Certified GSA. Raw coin also pictured with no CC mintmark. The raw coin will be shipped.
- Statements such as our boss is taking 50,000 silver dollars out of his personal collection to sell.
- Contact information shows China address
- Several sites using Australian address
- Copy not stamped on obverse or reverse
ACTF encourages collectors, dealers and the general public to report counterfeit coins and precious metals by using the report form at www.ACEFonline.org.
The efforts of the Anti-Counterfeiting Task Force are supported entirely by donations made to ACEF, a non-profit corporation. Monetary contributions may be made online at acefonline.org/donate or by check made out to ACEF and mailed to ACEF, 28441 Rancho California Rd., Ste. 106, Temecula, CA 92590. For additional information about donating, contact ACEF Executive Director Bob Brueggeman at info@ACEFonline.org.
Mar 25, 2020 | ICTA/NCBA, News
More states issue stay-at-home orders to mitigate spread of COVID-19
The Industry Council for Tangible Assets has been contacted by many members who are requesting information on whether dealers may be exempt from “stay at home” orders, based upon the dealer inclusion in Section 352 of the Patriot Act.
ICTA’s executive director, Jimmy Hayes, was an author of the Louisiana Bank Code and a former commissioner of financial institutions. Under Jimmy’s guidance we are advising dealers that “stay at home” executive orders from governors and mayors are currently being issued under their state-authorized powers. It is essential for each dealer to determine what their own state or city has issued and carefully read the exemption language.
Several of those who contacted ICTA had been told that their compliance with the money-laundering requirements of the Patriot Act somehow gave them the status of a “financial institution” or similar banking or lending institution.
This is not correct. Section 352 defines a financial institution under the Bank Secrecy Act SOLELY TO DETERMINE WHAT BUSINESSES ARE REQUIRED TO FOLLOW THE MONEY-LAUNDERING PROVISIONS. This definition is limited to money-laundering purposes and does not make, say, a bullion dealer a financial institution for any other purpose.
Any state order that refers only to “banks, financial institutions, etc.” would require that those seeking an exemption are defined as such institutions under state law. The bottom line is that the definition is up to the state issuing the executive order, and that no provision of federal law dealing with money laundering or other activities applies.
Very Important Note: Any information in this news release is provided to assist coin dealers and is not intended to be used as a substitute for actual advice from a professional tax or legal adviser.
About ICTA
ICTA is a 501(c)(6) tax-exempt trade association and is supported solely by dues and contributions. For more information, visit ictaonline.org/membership or email icta@ictaonline.org.
Mar 24, 2020 | News
Gregory Closes ANA Chapter in April
After 38 years at the American Numismatic Association (ANA), The Numismatist Editor-in-Chief Barbara Gregory will retire next month. Her legend as the longest-running editor-in-chief at the ANA began in 1988. She also is the first female to hold the position. In mid-April, she passes the editorial responsibilities to current ANA Managing Editor Caleb Noel, who has worked for the numismatic publication since 2015.
A native of Upstate New York, Gregory earned a bachelor’s degree in English from Alfred University in New York State’s Southern Tier. Her passion for publishing and editing was first ignited in high school, where she worked on the yearbook and newspaper staffs. Her passion continued through college, where she was a typesetter and editor of the college newspaper.
Before joining the ranks of the ANA as an editorial assistant in 1981, she worked previously as an assistant medical illustrator for the University of Rochester (New York) School of Medicine and Dentistry; a typesetter/layout artist for a Syracuse, New York, graphics firm and assistant editor of Aeronautics Digest, a quarterly journal produced by the United States Air Force Academy Department of Aeronautics in Colorado Springs, Colo.
Since Gregory has taken charge, the hobby publication has seen significant improvements throughout the years. Those changes include being the first hobby periodical to switch to desktop publishing, providing online access of the magazine to members (including a complete archive of all back issues), printing every edition in color and placing The Numismatist in Barnes and Noble across the nation. She also has been in charge of organizing and moderating the Legacy Series interviews with notable hobbyists at conventions since 2015.
Gregory leaves the magazine in competent hands. Noel graduated from the University of Colorado where he earned a degree in art history in 2015. His ANA journey began when he accepted an internship with the Edward C. Rochette Money Museum in 2013. Gregory invited Noel to work in the Publications Department in February 2015, and he was hired on full-time six months later.
“I have been fortunate to work with many wonderful and talented editors in my 38 years at the ANA, but Caleb is the first to grasp all the ins and outs of magazine production,” said Gregory. “He is a knowledgeable hobbyist, a brilliant wordsmith and grammarian; an accomplished photographer; an imaginative graphic designer; and a good-humored and diplomatic professional.”
Although the publication is passing to new hands, The Numismatist will not change in quality or scholarship. However, the editorial department has been tasked with reducing expenditures, which will result in a smaller staff and slimmer magazine. Despite this, the department will continue to publish engaging and informative content to the standard members expect.
The American Numismatic Association is a congressionally chartered, nonprofit educational organization dedicated to encouraging the study and collection of coins and related items. The ANA helps its 25,000 members and the public discover and explore the world of money through its vast array of instructional and outreach programs, as well as its museum, library, publications and conventions. For more information, call 719-632-2646 or visit money.org.
Mar 24, 2020 | News, U.S. Mint
Dear Valued Mint Customer,
As the global impacts of COVID-19 continue to evolve, my top priority remains the health, safety, and well-being of the Mint workforce – the men and women who work hard to ensure you receive the highest quality products.
As part of the Federal workforce we have and will continue to follow all guidance provided to the Federal Government, to include the information provided by Centers for Disease Control and Prevention. As we do this, the decisions I make will undoubtedly impact the on sale dates, availability, and delivery of some of our numismatic products, and you may also experience longer wait times when calling our customer service number. It is because of this that I ask for your patience and understanding during these unprecedented times.
I encourage you to use the United States Mint catalog site https://catalog.usmint.gov/ as your primary source of the most current information on product and service status.
Thank you for your patronage and continued dedication to the United States Mint. Please do all you can to be safe, stay healthy, and to keep others safe. We are all in this together, and we will get through it together.
Sincerely,
Dave
Mar 22, 2020 | ANA, News
The American Numismatic Association (ANA) presented 25 competitive exhibit awards at the 2020 Atlanta National Money Show . Winners were announced at the Exhibit Awards Presentation & Reception on Saturday, Feb. 29.
Dennis Schafluetzel received the Steven J. D’Ippolito Award for Excellence in Numismatic Exhibiting (best of show) for his exhibit, “Chattanooga Depression & Clearing House Scrip.” The second place D’Ippolito award was presented to Mack Martin for “A Unique Collection of Georgia Certificates.” Third place was awarded to Simcha Laib Kuritzky for his exhibit “Feline Paper Money Type Set.”
The Radford Stearns Memorial Award for People’s Choice, determined by votes from convention attendees, was presented to Jeffrey Rosinia for “A Taste of Collecting Coca-Cola.”
The theme for National Coin Week this year is “Remarkable Women: Catalysts of Change” and the National Coin Week Award was presented to Richard Jozefiak for “The Start of a New Collectible—The Innovation of the First Elongated Souvenir Coins at the 1893 Columbian Exposition in Chicago.” He will receive a full scholarship to a future ANA Summer Seminar, an award endowed by John Albanese.
National Coin Week exhibits are intended to be suitable for display in libraries and schools, so there is a $250 limit on the value of the materials in this competition. Second place in this category was awarded to Cindy Calhoun for “Dottie Dow and Her Elongated Handshake Coins.” Third place also went to Jozefiak for “Collecting For Free: The Shell Company’s Presidential Medals Set.”
Radford Stearns Memorial Award for Achievement in Exhibiting were also presented in six classes. This year, 23 competitive and three non-competitive exhibits were displayed in the Collector Exhibits are by 18 exhibitors. Class winners are as follows:
Class 1: History and Politics (historical or political events)
- First—Mark Martin, “A Unique Collection of Georgia Certificates”
- Second—Michael T. Shutterly, “Vive le Franc!”
- Third—Cindy Calhoun, “Dottie Dow and Her Elongated Handshake Coins”
Class 2: Economics (monetary and financial systems or economic events, such as panics and inflations)
- First—Simcha Laib Kuritzky, “Israel’s Two-Decade Long Road to Standardized Gold Coinage”
- Second—Lavonda Proveaux, “Twentienth Century Major Type Coins”
- Third—Michael T. Shutterly, “How Money Dies”
Class 3: Geography (natural or cultural assets, the distribution of populations, or exploration)
- First—Dennis Schafluetzel, “Chattanooga Depression & Clearing House Scrip”
- Second—Simcha Laib Kuritzky, “The Roaring Lion of Megiddo”
- Third—Richard Jozefiak, “Official Alaska Statehood Medals 1859 & 2009”
Class 4: Common Elements (material linked by common themes and designs, such as Queen Elizabeth II, elephants, bridges or world’s fairs)
- First—Jeffrey Rosinia, “A Taste of Collecting Coca-Cola”
- Second—Gary J. Dobbins, “Honoring Music Through a World of Paper Money”
- Third—Halbert Carmichael, “New Zealand’s Birds”
Class 5: The Arts (any aspect of fine or applied arts)
- First—Don Geddes, “The Legacy of Charleston Slave Badge Makers”
- Second—Simcha Laib Kuritzky, “The Heh Amulet”
- Third—Michael T. Shutterly, “Ludwig van Beethoven: A Man for All Reasons…or no Reason at all”
Class 6: Science (theoretical or applied science, including the technology of manufacturing numismatic items)
- First—Simcha Laib Kuritzky, “Feline Paper Money Type Set”
- Second—Robert Moon, “Nobody’s Perfect!”
- Third—Richard Jozefiak, “The Start of a New Collectible—The Innovation of the First Elongated Souvenir Coins at the 1893 Columbian Exposition in Chicago”
The application deadline for exhibiting at the 2020 ANA World’s Fair of Money®, which will be held Aug. 4-8 in Pittsburgh, Pennsylvania, is June 10. For an application form or more information, phone 719-482-9849; e-mail exhibits@money.org; or visit money.org.
The American Numismatic Association is a congressionally chartered, nonprofit educational organization dedicated to encouraging the study and collection of coins and related items. The ANA helps its 25,000 members and the public discover and explore the world of money through its vast array of instructional and outreach programs, as well as its museum, library, publications and conventions. For more information, call 719-632-2646 or visit www.money.org.
Mar 12, 2020 | ICTA/NCBA, News
Repeal attempt fails in committee after opposition by Whitman Expos, ICTA, Visit Baltimore
The Maryland House of Delegates’ Ways and Means Committee stopped a proposed repeal to the state sales tax exemption for certain coin and bullion sales on Wednesday, March 11, 2020. The committee’s Unfavorable Report on House Bill (HB) 1284 came after opposition from Whitman Coin & Collectibles Expo, the Industry Council for Tangible Assets, and Visit Baltimore.
HB1284 was introduced in the House of Delegates, one of the two chambers in Maryland’s General Assembly, on February 7 with its first reading in the Ways and Means Committee. The bill included changes to a number of tax exemptions, credits, and discounts, including inheritance taxes, economic development credits, and credits for certain industries.
For numismatists attending coin shows and auctions in Baltimore, the most important section of HB1284 was the proposed repeal of a sales tax exemption for any sale of precious-metals bullion or coins at a price of $1,000 or greater.
Repealing this sales exemption would cause significant damage to the businesses of coin dealers and auction firms.
A similar repeal has been attempted three other times in the General Assembly, most recently in the 2015 session with HB903. As in 2015, Whitman Coin & Collectibles Expo hired The Rasmussen Group, an Annapolis-based lobbying firm, to assist in voicing the opposition of the numismatic community and defeating the bill.
Patrick Heller, a member of the board of directors for the ICTA, a watchdog organization for the industry of coins, currency, and precious-metals bullion, wrote to the House Ways and Means Committee on March 5 to support keeping the exemption. He noted that similar exemptions for coin and precious-metals bullion sales in other states had increased tax revenue consistently by drawing coin shows and conventions to the states and thereby boosting hotel, restaurant, and other retail spending.
Baltimore’s official tourism organization, Visit Baltimore, also wrote to the committee in support of keeping the exemption. The three annual Whitman Coin & Collectibles Expos, all housed at the Baltimore Convention Center, create an estimated economic impact of $4.9 million annually.
Lori Kraft, general manager of Whitman Expos, stated that had HB1284 been successful, the bill’s passage would have prompted Whitman to move its expos to a venue in a different state.
With the Ways and Means Committee’s Unfavorable Report, coin dealers and auctioneers can continue business as usual at Whitman’s spring, summer, and winter expos in Baltimore. In addition to programs and sales at the Baltimore Convention Center, vendors and visitors at the show can also enjoy the restaurants, hotels, and entertainment located nearby in the city’s inner-harbor area.
Mar 12, 2020 | Bureau of Engraving and Printing, News
The BEP Monthly Production Report for February 2020 Has Been Posted.
It can be found at https://www.bep.gov/resources/productionmonthly.html
Mar 7, 2020 | News
The American Numismatic Association (ANA) is currently accepting submissions for the 2020 Barbara J. Gregory Outstanding Club Publications competition. The contest is open to member clubs that are current with their ANA dues, and do not have an elected or salaried ANA officer as editor or assistant editor. Completed submissions must be received by April 1.
Submissions must include a complete set of 2019 publications or three different e-mailed samples of online publications. Also required are the category of submission (local, regional, specialty or electronic); the editor’s name; and the name, address, phone number and e-mail address of the submitter.
Judging criteria
Entries are judged on general appearance, composition, aptness of illustrations, newsiness and relative interest. The size of the club and the amount of funds expended is not a factor in judging.
Completed electronic entries can be emailed to magazine@money.org. All others should be sent to:
Outstanding Club Publications Competition
ANA Publications Department
c/o Lisa Williams
818 N. Cascade Avenue
Colorado Springs, CO 80903
Honors will be presented at the ANA World’s Fair of Money® in Pittsburgh.
To view the submission guide online and to see past winners, visit money.org/outstanding-club-publications. For more information, contact the Publications Department at magazine@money.org.
This year, ANA President Steven K. Ellsworth sponsored the previously named Outstanding Club Publications competition, endowing the program through 2030. In providing these funds, Ellsworth was invited to name the award after a person of his choosing. His pick was ANA Editor-in-Chief Barbara J. Gregory, who has served in this role since 1988. Gregory, who joined The Numismatist staff in 1981 as an editorial assistant, rose to become the first female editor-in-chief in the magazine’s history. In 2015 she surpassed Frank Duffield as the longest-serving ANA editor. “The announcement was a lovely and unexpected surprise. I feel very honored,” said Gregory.
The American Numismatic Association is a congressionally chartered, nonprofit educational organization dedicated to encouraging the study and collection of coins and related items. The ANA helps its 25,000 members and the public discover and explore the world of money through its vast array of instructional and outreach programs, as well as its museum, library, publications and conventions. For more information, call 719-632-2646 or visit money.org.
Mar 7, 2020 | News
The Eric P. Newman Numismatic Education Society (EPNNES) announces the opening of the application period for the 2020 Newman Grant program. Newman Grants are designed to financially assist numismatic authors and organizations pursuing original research in American numismatics. This is the second year of the program. In 2019, the Newman Grant program supported research projects related to colonial numismatics, U.S. federal coinage, counterfeit detection, and other areas.
Authors, researchers, and numismatic organizations are encouraged to apply for amounts between $1,000 and $5,000. Awards may be applied toward related research costs including but not limited to photography, reproduction of research material and graphic art services, database access fees, and travel. Electronic publications will be preferred as EPNNES wishes to direct funds toward expenses specifically related to numismatic research, rather than the print publication of research. Newman Grant awardees agree to non-exclusive publication of their research on the Newman Numismatic Portal (NewmanPortal.org). EPNNES intends to make approximately half a dozen grants in 2020.
The Newman Grant program is administered for EPNNES by the Newman Numismatic Portal (NNP). Applications may be found on the Newman Numismatic Portal at https://nnp.wustl.edu/library/archivedetail/530553?Year=2020 and should be submitted to NNPCurator@wustl.edu. The application deadline is April 1, 2020, with the grant awards to be announced on May 25, 2020, coincident with the late Eric P. Newman’s birthday.
It is the hope of EPNNES that this program will continue the legacy of Eric P. Newman in a way that would reflect his high standards for numismatic research.
Mar 5, 2020 | News
by Dennis Tucker, Publisher, Whitman Publishing
For several years when I was a kid, my father and I would plant, nurture, and eventually harvest a big vegetable garden. It was something special he and I shared—my one older brother still living at home didn’t really take to it; my mother helped, but she focused mainly on her flower gardens. It was Dad and I who planned the vegetable garden, plotted its layout on graph paper late each winter or early in the spring, and did most of the work.
Now, umpteen years later, Dad still grows a garden each year. When we catch up by phone or in person, I get an update on how everything is doing—what’s growing well or poorly, what’s been affected by the weather, what’s seeing a good yield.
How do you measure the grassroots health of a hobby (like coin collecting)? I’ve always felt that the number, depth, and quality of books, magazines, and other products that serve a hobby make good measuring sticks. These are better gauges than just looking at auction records and top-end sale prices. It’s exciting that a 1938-S Mercury dime in MS-68 recently sold for $364,250—even non-collectors are intrigued by such an event. But that’s only one numismatic transaction out of tens of thousands that occur every day.
Walk into a Barnes & Noble or Books-A-Million—the nation’s two largest bookstores—and you’ll see shelves full of hobby references and storage supplies. Those of us who collect coins, medals, tokens, paper money, and other numismatic treasures have a bumper crop to choose from these days.
The price of gold rises and falls, hot investments come and go, the United States Mint releases exciting new coins and medals that capture the popular imagination, market bubbles expand and pop. While all this is happening, the underlying health of the hobby—judging from the wealth of related “stuff” that helps collectors assemble, display, and enjoy their collections—is quite strong.
In the coming months you’ll continue to see a diverse library of books from Whitman Publishing in your local bookstores and hobby shops, and online. Charles Morgan and Hubert Walker have ranked the 100 Greatest Modern World Coins in a fascinating new study. Bill Bierly’s In God We Trust goes in-depth in a numismatic and historical exploration of the national motto. The year’s new Red Book, Blue Book, and Mega Red will be on bookshelves before you know it. A bit later in the year, we’ll have the latest volume of the Cherrypickers’ Guide, a new edition of Roger W. Burdette’s Guide Book of Peace Dollars, and many other books. Rumor has it the definitive autobiography of Q. David Bowers is in the offing! Postcard collectors will have a colorful new large-sized reference to enjoy. We’re working on new books in the world-coin arena, and also paper money, exonumia, and American colonials.
That’s not to mention what’s planned and in the works for 2021, 2022, and beyond.
Albums and folders continue to be popular, from the classic blue Whitman folder to handsome leatherette albums. Coin maps, plastic tubes, 2×2-inch holders, display cases, and similar products give many options to the enthusiast. Whitman’s and other companies’ coin, paper currency, and stamp supplies offer excellent ways to showcase your collections.
Numismatics is alive and well. Keep an eye open and an ear to the ground as the hobby continues to grow and change. We’ll get the word out as new books and products become ready for you.
