May 24, 2022 | News
Previously Known 1943-S Doubled Die Obverse Cent Discovered to Actually Be a 1943/1942-S Overdate
By Tom DeLorey
ANA LM-1696
Full obverse of the 1943/42-S cent. Photo courtesy Numismatic Guaranty Company and David Lange. Used with permission.
About a month ago longtime collector James Elliott contacted me via the Internet and said that another collector in the die variety collecting field, Pete Apple, had recommended that he contact me about a 1943-S cent that he had with a known Doubled Die Obverse that he thought was also a 1943/2-S overdate. As with Del Romines and his 1943/42-P nickels, I think he is right, and my fellow die variety specialists Bill Fivaz, John Wexler and James Wiles agree with me, as does noted Lincoln cent specialist and author David Lange. In our unanimous opinion, the 1943/1942-S cent is a true overdate!
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The 1943/1942-S Lincoln cent, FS-101, in an early die state with doubling under the bottom of the upright of the 4. Photo courtesy Numismatic Guaranty Company’s Variety Plus archive. Used with permission.
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The 1943/1942-S Lincoln cent, FS-101.Since all four digits were rehubbed we are using the entire 1942 as the underdate. Photo courtesy Numismatic Guaranty Company and David Lange. Used with permission.
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The 1943/1942-S Lincoln cent, FS-101, with arrows highlighting the remains of the 2. Photo courtesy Dr. James Wiles. Used with permission.
Though it is a known die variety, and has been for many years, it has only ever been recognized for its die doubling. It is currently listed as such in the “Cherrypickers’ Guide” by Bill Fivaz and the late J.T. Stanton as variety FS-101 (019.5) among the 1943-S cents. [The (019.5) number is an obsolete reference number from the earlier editions of the CPG, which is noted because it might be found on older TPG slabs.]
The misalignment of the designs between the 1942-dated hub and the 1943-dated hub pivots around a spot on the left obverse rim. Because of this swing the coin shows only trivial doubling on the word LIBERTY close to the pivot point, but some fairly strong doubling almost due North and South at the base of the 1. There is similar doubling under the top curve of the 9 and along the right side the leg of the 9. There is extra metal below the sharp left angle of the 4 that corresponds in scale to the doubling on the 1 and the 9. Fairly rare early die state coins will also show similar doubling on the base of the 4, but this feature apparently was either worn off or polished off of the die early in its die life.
Elliott gets the credit for first suggesting that the doubled die was actually an overdated die, ever since he asked the question back in July of 2020 in a private online forum, “Lincoln Cent Errors and Varieties Only,” on Facebook. As he pointed out, “the extra metal to the upper right side of the 3 matches a 2.” He provided an overlay to show how an underlying 2 could account for that extra metal. As my colleagues and I have confirmed, this extra metal does not line up with any part of the 3 if the entire 1943 date is doubled in a North-South direction, the same way that the 1 and the 9 and the 4 are doubled.
As seen in the attached overlay of a 1943 date and a 1942 date created by die variety specialist Dr. James Wiles, owner of the Variety Vista website, the high arched curve of the upper right part of a 2 falls into the field to the right of the top of the 3. Study the pictures of the overdate, and see that the blob of raised metal to the right of the top of the 3 cannot align with any part of a 3 that is doubled only North and South.
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Photographic overlay a normal 1943 date positioned a bit north of a normal 1942 date, created by Dr. James Wiles. Used with permission.
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Closeup of the dates on normal 1942 cent. Photo courtesy Numismatic Guaranty Company and David Lange. Used with permission.
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Closeup of the dates on normal 1943 cent. Photo courtesy Numismatic Guaranty Company and David Lange. Used with permission.
There is extra metal inside the top of the 3 that corresponds with the upper left curve of the 2, though its similarity to the upper left curve of the 3 must be acknowledged. However, it does seem to match the angle of the upper left curve of the 2 more than that of the 3. There is extra metal below the center “tine” of the 3 that corresponds with the lower left curve of the 2, above the base of the 2 (which is not present).
If you are wondering why there is nothing else inside the bottom of the 3, look at the images of normal 1942 and 1943 dates and see that the 2 is rather short, the same height as the 4, while the 3 is much taller, the same height as the 9. Only a 3 could be down there if the 3 were doubled, and there is nothing.
Why is the base of the 2 missing and the upper right curve of the 2 weak? This is a function of the hubbing process. Back then blank dies were polished down to a very shallow cone on the end to help the positive steel hub transform the negative steel die more effectively. As the hub came into contact with the die blank the center of the design would form first, and then spread outwards as the hub sank deeper and deeper into the die.
Eventually the die became work hardened from all this pressure, and so the hub stopped entering the conical die blank before the design impression had reached out all the way to the rim of the die. The die now needed to be annealed, or heated in an oven to a certain temperature and allowed to cool slowly overnight. This softened the die steel. On the next working day it was put back under a design hub for another impression. Sometimes this process had to be repeated more than once, depending upon the diameter and relief of the design, the skill of the annealer, the skill of the hubber, etc., etc.
If the second (or third) hub impression happened to be from a different hub with a different date, the result should be an overdate “IF” the earlier date was sufficiently formed during the previous impression(s). Dual date hubbing could have happened near the end of any calendar year when the Engraving Department was still producing dies for current usage from the current year’s hub while simultaneously producing dies from the next year’s hub in order to have some ready to be used on January 2nd.
The same thing happened with the 1909/8 gold double eagle, the 1918/7-D nickel, the 1918/7-S quarter, the 1942/41-P&D dimes, and the 1943/42-P nickel. It has been speculated that it is no coincidence that six of the seven modern hubbed overdates occurred during wartime, when the Mint would be less inclined to scrap out a blundered but perfectly usable die. It is also possible that one or more of the skilled hubbers was off serving his country in the military.
On this particular die the outer parts of the design, such as IN GOD WE TRUST, were not formed by the first impression, and so they could not be doubled by the second impression of the hub. Over in the word LIBERTY, the BERTY shows some very trivial die doubling (being close to the pivot point), while the LI show no doubling at all because they did not exist before the second hubbing. The upper right curve of the 2 was incompletely formed by the first hubbing, while the flat base of the 2 was not formed because it lies closer to the rim.
Closeup of LIBERTY on the 1943/1942-S Lincoln cent, showing very minimal die doubling on the BERTY because this area was so close to the pivot point. Photo courtesy Numismatic Guaranty Company’s Variety Plus archive. Used with permission.
Something similar can be seen on the 1943/42-P nickel, on which the top of the date is closest to the rim. It shows a strong base of the 2 from the original hubbing, but not the center or top of the 2. The result was a 3 over a partial 2. By contrast, if only the bases of LIBERTY and IN GOD WE TRUST were formed by the 1942 hub impression, the letters were simply finished normally by the subsequent 1943 impression.
Several specimens of the 1943/1942-S cent have been examined. Only the earliest die states show doubling at the bottom of the upright of the 4. Middle to later die states show some strong vertical die polish lines, as might have been caused by the use of an emery stick to clean the die, in the field above the date.
The die variety will continue to be listed in the “Cherrypickers Guide” as FS-101, though a new description of it will be forthcoming. The description in the Numismatic Guaranty Company’s Variety Plus archives will also be amended.
I would like to thank James Elliott for having the wisdom to look at “what everybody knows is so” and asking questions. I would also like to thank Bill Fivaz, David Lange, John Wexler and Dr. James Wiles for their invaluable contributions in adding yet another overdate to the canon of American die varieties. To those of you who were amazed when I published the 1943/42-P nickel some 35 years after it was first struck, all I can say 79 years after the 1943/1942-S was first struck is: “KEEP LOOKING!!!”
May 11, 2022 | ANA, News
Walter Breen’s Documents Can Help Future Researchers
Prominent collector and benefactor Dwight N. Manley of Brea, California has donated to the American Numismatic Association (www.money.org) more than 60 books, auction catalogs, and photographs he recently acquired at auction from the Sydney F. Martin (1945-2021) Numismatic Library Collection. All the items were previously owned or annotated by noted numismatic researcher and author Walter Breen (1928-1993) and many have his handwritten notes.
Among the highlights of the donation are two annotated drafts of Breen’s massive 1987 masterpiece, Walter Breen’s Complete Encyclopedia of U.S. and Colonial Coins, with thousands of handwritten notes made as he typically did in different color inks. The combined drafts total over 3,000 pages and were described by auction house Kolbe & Fanning Numismatic Booksellers as “an exceptionally important part of the Breen archives.”
Another annotated book is Breen’s personal copy of the 1981 reference guide he co-authored with former ANA President Anthony Swiatek, The Encyclopedia of United States Silver & Gold Commemorative Coins, 1982-1954.
There are 29 auction catalogs each with Breen’s handwritten notes. The sales dates range from a Stack’s auction in 1951 to the Rarcoa offering of the Kaufman Collection in 1978.
The donation also includes several letters Breen wrote and 19 photographic plates depicting colonial-era state and other pre-federal coins with his handwritten notes on rarity. Among the plates are black and white prints depicting obverses and reverses of 1785 Connecticut coppers. These photos were produced by Al Hoch in the late 1960s and are the coins extensively cited in Breen’s famous 1975 Early American Coppers organization sale catalog of Connecticut coppers.
“Walter Breen had a troubled personal life, but he was one of the top numismatic researchers of his era. These important documents can help current and future researchers provide useful information for our hobby,” said Manley.
In 2003, the ANA Library at ANA headquarters in Colorado Springs, Colorado was named in honor of Manley when he gratefully donated $250,000 to the Association. That donation was a “thank you” for the $400 scholarship he received as a teenager in 1980 to attend an ANA Summer Seminar session.
In 2007, Manley donated an original edition of the world’s first illustrated numismatic book, Illustrium Imagines, published in 1517.
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Walter Breen annotated draft page
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1785 Connecticut copper varieties
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 members and the public discover and explore the world of money through its vast array of educational and outreach programs, including the Money Museum, located at 818 N. Cascade Avenue, Colorado Springs, Colo. For more information, call (719) 632-2646 or visit www.money.org.
May 10, 2022 | News, PNG
(Temecula, California) May 10, 2022 – Second generation numismatist Wayde Milas, President of Rare Coin Company of America (RARCOA) in Willowbrook, Illinois, has been selected as the new President of the Professional Numismatists Guild (www.PNGdealers.org) for the 2022-2024 term.
Milas’ father, Ed Milas, served as PNG President from 1983 to 1985.
“Our respected, long-time PNG Executive Director, Robert Bruggeman, will be retiring next year, so my primary first goal as PNG President is to reach out to our members about the best candidates to succeed him,” said Milas who joined PNG in 2005.
“My other goals and projects as PNG President will be looking at ways to revamp and revitalize the experience of in-person shows for dealers and collectors as well as the future of PNG Days and the dealer-to-dealer PNG Trading Rooms. Another goal is to increase the number of younger dealers in the PNG ranks and how we can increase the cost/benefit ratio for them as well as all PNG members,” Milas continued.
All officers of the PNG Board of Directors also serve pro bono as officers of the non-profit Anti-Counterfeiting Educational Foundation (www.ACEFonline.org) and oversee the ACEF’s Anti-Counterfeiting Task Force. The volunteer task force works with local, state and federal law enforcement agencies to combat counterfeit coins, banknotes and precious metals products.
“We need to find permanent funding for ACEF and ACTF. The anti-counterfeiting work and PNG’s Code of Ethics binding arbitration to mediate any disputes involving our dealer-members are the two most important activities for PNG. ACEF’s partnership with law enforcement across the country has helped remove millions of dollars in counterfeits from the marketplace and resulted in shutting down dozens of fraudulent websites selling fakes,” explained Milas.
“The Anti-Counterfeiting Educational Foundation is a 501(c)(3) corporation and separate from PNG. All donations to ACEF are tax deductible.
Also selected as PNG officers for the 2022-2024 term are Vice President Don Rinkor of Rinkor Rare Coins in Santa Rosa, California; Secretary Dustin Johnston of Heritage Auctions in Dallas, Texas; and Treasurer John Brush of David Lawrence Rare Coins in Virginia Beach, Virginia.
Other members of the PNG Board are William Gale of Asset Marketing Service in Eagan, Minnesota; Jeff Garrett of Mid-American Rare Coin Galleries in Lexington, Kentucky; James Sego of JMS Coins in Coeur d’Alene, Idaho; Vincent Wade of Pinehurst Coins in Pinehurst, North Carolina; and Immediate Past President Richard Weaver of Delaware Valley Rare Coin in Broomall, Pennsylvania.
“Under PNG Bylaws, member-dealers of the organization elect the board members at large, and then the elected board members select the officers from within their group. During their April 26, 2022 meeting, the nine-member board chose the President, Vice President, Treasurer and Secretary,” explained PNG Executive Director Brueggeman.
Founded in 1955, the Professional Numismatists Guild is a nonprofit organization composed of many of the country’s top rare coin and paper money experts who undergo a background check, must adhere to a strict code of ethics in the buying and selling of numismatic items and who guarantee the authenticity of the numismatic merchandise they sell. The PNG mission statement is: Ensuring integrity, instilling confidence, and promoting professionalism for the benefit of all numismatic collectors and professionals.
A directory of PNG member-dealers is online at https://png.memberclicks.net/find-a-png-dealer and a directory of PNG-Accredited Precious Metals Dealers can be found at https://apmddealers.org/apmd-dealers.
For additional information, visit online at www.PNGdealers.org or call the PNG headquarters in Temecula, California at 951-587-8300.
May 6, 2022 | News, Royal Mint
May 6, Goldsmiths’ Hall, City of London: Today at Goldsmiths’ Hall in London, the Queen’s Remembrancer, Senior Master Barbara Fontaine, pronounced the verdict on the 7,968 coins submitted at the Trial of the Pyx in January, including the 10Kg “Queens’ Beasts” gold proof – the largest coin ever created by the Royal Mint.
Along with this one-of-a-kind masterwork, created using a combination of traditional skills and innovative technology, 2,700 pieces of the nation’s currency and a further 5,267 commemorative coins were submitted, tested and passed for quality and accuracy in one of the nation’s longest-established judicial ceremonies, dating back to the 12th Century.
Today’s verdict marks the end of a three-stage process, which started in January, when a jury of goldsmiths carefully counted and weighed a selection of new coins (legal tender and commemorative coins) taken at random from the Royal Mint’s 2021 production line. After adjourning for three months to allow the Goldsmiths’ Company Assay Office time to thoroughly test the coins, the Queen’s Remembrancer then delivers the verdict at Goldsmiths’ Hall, where both the Trial and the Verdict have taken place annually since 1871.
The Trial fulfils a legal requirement imposed by an Act of Parliament (Coinage Act 1971) to conduct an examination by jury to ascertain that the coins of the realm, produced by the Royal Mint, are of the correct weight, size, and composition.
Prime Warden of the Goldsmiths’ Company, Dame Lynne Brindley, commenting on the verdict today said: “Today’s verdict is important for the future of coins: both the everyday pieces found in the nation’s pockets and purses, and the beautiful commemorative pieces that have found renewed popularity with both collectors and investors. It shows an enduring commitment from the Royal Mint to uphold the highest standards of quality and provides an assurance that the Goldsmiths’ Company continues to protect consumers by assessing and testing the nation’s coinage with the same vigour today as it has done for almost 700 years.”
Anne Jessopp, Chief Executive of The Royal Mint said: “As Britain’s oldest company, we have an incredible 1,100-year heritage which includes the ancient Trial of the Pyx ceremony. As our business continues to evolve, the coins we submit vary in size, metal, and design but they all remain of the highest standard of British craftsmanship. We are delighted to have that standard affirmed through today’s verdict.”
The Trial of the Pyx today
- The purpose of the annual Trial is to check that UK coins produced at The Royal Mint are within the statutory limits for metallic composition, weight, and size.
- Officials from The Royal Mint bring chests (Pyx) to Goldsmiths’ Hall, hence the name ‘Trial of the Pyx’
- These coins represent one coin from every batch of each denomination minted.
- During the opening proceedings, the coins are counted and weighed, and a selection are put aside for testing by the Goldsmiths’ Company Assay Office.
- The Goldsmiths’ Company Assay Office has three months to test the coins.
- The benchmark against which the coins are tested is called a Trial Plate.
- The trial jury, which must consist of at least six members of the Goldsmiths’ Company, is a formal court of law, summoned to Goldsmiths’ Hall by the Queen’s Remembrancer, the oldest judicial post in England and Wales.
History of the Trial of the Pyx
- Origins of the Trial of the Pyx go back as far as circa 1180, when some form of trial may have been ordered by Henry II who instigated various control initiatives.
- The first record of a public trial dates from 1248. Twelve citizens of London and twelve goldsmiths of the City were selected to examine the money.
- In 1279, Edward I published an ordinance called ‘The Form of the New Money’ which described how a sample of the work produced each day at the mint in the Tower of London should be placed in a box, or ‘Pyx’.
- Up until the reign of Elizabeth I the juries of the Trial of the Pyx were composed of a mixture of goldsmiths and other citizens of the City of London. Elizabeth I gave the Goldsmiths’ Company full responsibility for the Trial in 1580, and all jurors were nominated from its members from then on.
- 1707 also saw the production of new trial plates following the Act of Union between England and Scotland, to bring the Edinburgh Mint into line with the Tower of London
- Although previous Trials had occasionally been held at Goldsmiths’ Hall, it became the permanent venue by law after the Coinage Act of 1870.
- The first Trial in Goldsmiths’ Hall, as the permanent venue, was held in 1871 and it has been held there every year since.
- The Master of the Mint – a role held by the Chancellor today – went to prison for six weeks in 1318 after poor tests.
More information on the Trial can be found here.
May 4, 2022 | News, NLG
NLG Executive Director Patrick Ian Perez
A professional numismatist since 2008, Perez is the Vice President of Content and Development for CDN Publishing (www.greysheet.com), publishers of Monthly Greysheet, CAC Rare Coin Market Review, Greensheet, and other numismatic reference guides.
“I am excited to take on this opportunity and am optimistic about the future of the NLG,” said Perez. “Numismatic writing and research are very important to the industry, and I look forward to collaborating with as many people as possible to advance the NLG mission.”
Outgoing Executive Director Morgan, editor-in-chief of CoinWeek (www.CoinWeek.com), said, “Patrick takes the position at an important time for the organization. As the hobby continues to evolve in surprising ways, it is important to have innovative leaders. Patrick has the full confidence of me and the board. We know that he will continue to move the NLG forward.”
The NLG has begun accepting entries for its annual awards competition that is open to any paid-up NLG as of May 1, 2022. The deadline for submitting entries to Awards Coordinator David W. Lange is June 4. Awards categories, rules, and entry submission information can be found online at www.NLGonline.org/news/2022-numismatic-literary-guild-awards-competition.
The NLG Board of Directors members are Bob Fritsch, Ron Guth, Dr. Ursula Kampmann, Michael Shutterly, Mel Wacks, and Doug Winter. Maurice Rosen serves as Treasurer and Walter Ostromecki as Secretary.
The Numismatic Literary Guild is a nonprofit organization open to all full-time or part-time editors, authors, writers, bloggers, and content producers who cover news and feature stories about all forms of money, medals, and tokens as collectibles. For information about becoming an NLG member, visit www.NLGonline.org/membership/.
May 2, 2022 | ICTA/NCBA, News
Tennessee has gained a complete sales-tax exemption on the retail sales of coins, currency, and precious-metals bullion. On April 27, 2022, the Tennessee House substituted Senate Bill 1857: Exempts certain sales of gold, silver, platinum, and palladium coins and bullion from the sales and use tax, for House Bill 1874, and passed Senate Bill 1857. The Senate concurred on April 28, 2022. The exemption will take effect upon receiving the governor’s signature or 10 days after it reached the governor’s desk if he takes no action.
“Over the last seven years, Representative Bud Hulsey and Senator Frank Nicely have shown unrelenting perseverance in an effort to get this measure passed,” said NCBA executive director David Crenshaw. “The dedication of Representative Hulsey and Senator Nicely in sponsoring and championing their bills through multiple Assembly sessions has never wavered, and dealers Col. Steven Ellsworth (ret.), David Hall, and Bruce Paulhamus gave their efforts a much-needed shot in the arm in 2019, when they formed the Tennessee Precious Metals, Coin & Currency Coalition and hired Bass, Berry & Sims to lobby for us. Ellsworth’s determination, especially, rallied the state’s dealers and collectors to help push this exemption through.”
Last year Representative Ron Gant and Senator John Stevens introduced companion bills to exempt certain sales of gold, silver, platinum, and palladium coins and bullion from the sales and use tax. House Bill 514 and Senate Bill 870 were introduced on February 4, 2021, and February 11, 2021, respectively. The Tennessee Precious Metals, Coin & Currency Coalition hired a lobbyist team from Bass, Berry & Sims to monitor the progress of each bill as they moved through the state’s legislative process. The House Finance, Ways & Means Subcommittee placed HB 514 behind the budget, and the Senate Finance, Ways and Means Subcommittee referred SB 870 with a negative recommendation. Unfortunately, as with the Hawaii legislature early in 2021, a provision in the American Rescue Plan Act of 2021 halted any further action to include the bill in the budget. The legislature adjourned sine die, not to reconvene until January 2022.
In the summer of 2021 the Tennessee Advisory Commission on Intergovernmental Relations studied the feasibility of a gold depository in Tennessee. Although the study found that there was not enough demand for such a depository to be viable, the report did suggest that the General Assembly should “consider a sales-tax exemption for precious metal coins and bullion if it becomes clear that the exemption will not violate the American Rescue Plan Act.” November saw U.S. District judge L. Scott Coogler of the Northern District of Alabama issue an injunction in favor of a lawsuit brought forward by 13 states, alleging that the provision in the American Rescue Plan Act that limited state tax cuts was unconstitutional. This court injunction halted enforcement of that provision in the act limiting state tax cuts and opened the way for new bills to move through the assembly during the 2022 session to create an exemption for coins and bullion.
In 2022 Representative Bud Hulsey agreed to sponsor and champion House Bill 1874: As introduced, exempts certain sales of gold, silver, platinum, and palladium coins and bullion from the sales and use tax. Its companion bill was Senate Bill 1857, sponsored by Senator Frank Nicely. SB 1857 was referred to the Senate Finance, Ways and Means Committee with a negative recommendation from the Senate Finance, Ways and Means Revenue Subcommittee on March 1, 2022, and placed on the calendar to be heard April 19, 2022, although its companion bill, HB 1874, was placed behind the budget in the House. Neither of these bills appeared to be moving and would most likely not be considered further during the 2022 session.
As the coalition and NCBA continued investigating other options to create an exemption this year, SB 1857 was placed on the Senate Finance, Ways, and Means Committee calendar for April 26, 2022. This committee recommended the bill for passage, and the next day the Senate passed the bill, 25 to 5. The bill was then sent to the House where it was substituted for its companion HB 1874. A very minor language change to the bill was adopted, which revised the criterion to refer to sales based “primarily” on intrinsic value as precious material or collectible items. The House passed the bill unanimously.
“It has been a long road to get Tennessee a coin, currency, and bullion sales-tax exemption. The way the dealers and collectors of our state have stepped up to contact their legislators has made a huge difference,” said Col. Ellsworth. “We are so glad the way opened to get our exemption passed this year. We are thankful for the efforts of Representative Hulsey and Senator Nicely, our legal team at Bass, Berry & Sims, and the National Coin & Bullion Association’s executive director, David Crenshaw, and board member Pat Heller in reaching our goal.”
Tennessee now joins 40 other states that have complete or partial sales-tax exemptions on the retail sales of coins, currency, and precious-metals bullion. Of those states, five (Alaska, Delaware, Montana, New Hampshire, and Oregon) have no state sales tax at all, while the other 35 states had enacted legislation and adopted regulations to exempt such merchandise. That leaves only nine states and the District of Columbia that still charge sales taxes on the retail sales of coins, currency, and precious-metals bullion.
Apr 29, 2022 | Auctions, News
(Lincroft, NJ. 4/29/2022)—Legend Rare Coin Auctions’ Regency 51, featuring the first parts of the Dale Friend Collection and Glorious Patterns Collection, took place on the evening of April 28, 2022, and the sale was a roaring success! The sale began with first portion of the Dale Friend Collection, including his collection early silver dollars. From the day the sale went live, a record number of collectors and dealers started watching the sale, tracking the lots. For decades, Dale would attend coin shows, conventions, and auctions all over the United States, seeking out the coins that had “the look.” In those travels, Dale befriended many collectors and dealers, and it was obvious that demand for his coins would be intense.
“Dale was a real collector’s collector,” said Laura Sperber, founder of Legend Rare Coin Auctions. “He was a real friend and supporter of both Legend Rare Coin Auctions and Legend Numismatics. Once we saw what he had left when he passed, we knew the results were going to be very strong, especially in this market. Take a look at these highlight lots from the first portion of Dale’s Collection:”
- Lot 2. 1C 1925-S PCGS MS65 RD CAC, realized $30,550.00
- Lot 12. 25C 1905-O PCGS MS66+ CAC, ex Pogue, realized $21,150.00
- Lot 19. $1 1795 2 Leaves. PCGS AU58 CAC, ex Col. Green/Eric Newman, realized $105,750.00
- Lot 23. $1 1795 Centered Bust. PCGS AU53, realized $34,075.00
- Lot 28. $1 1797 9X7 Stars, Small Letters. PCGS XF40 CAC, ex Eliasberg, realized $30,550.00
- Lot 30. $1 1798 Small Eagle, 13 Stars. PCGS AU58 CAC, ex Cardinal-Legend, realized $205,625.00
- Lot 36. $1 1799 8X5 Stars. PCGS AU58 CAC, ex Hesselgesser/Cardinal, realized $41,125.00
- Lot 41. $1 1800 10 Arrows. PCGS AU55 CAC, ex Hesselgesser/Cardinal, $36,425.00
- Lot 46. $1 1802 Narrow Date. PCGS AU58, realized $38,775.00
- Lot 50. $5 1809/8 PCGS MS64+ CAC, realized $79,312.50
- Lot 51. $5 1827 PCGS AU58+ CAC, realized $79,312.50.
- Lot 53. $20 1881-S PCGS MS63+ CAC, ex Saddle Ridge Hoard, realized $29,375.00
“The results show that even non-CAC approved coins are doing quite well in this market,” Sperber continued.
After the Friend Collection coins sold, the auction progressed into type coins, silver dollars, patterns (anchored by the Glorious Patterns Collection, Part 1), and then gold and commemoratives.
“The Glorious Pattern Collection did far better than we expected. There were many collectors bidding and many of them were new,” said Jessica Berkman, newly named President of Legend Rare Coin Auctions. “The 20C Patterns were especially crazy! Three lots, 326 (The Bass J-1356. PCGS PR65 CAC); 328 (J-1398. PCGS PR65 CAM CAC); and 329 (J-1404. PCGS PR65 RB CAC), estimated at $38,000 realized $95,175!”
Other sale highlights included:
- Lot 137. 25C 1932-S PCGS MS65+ CAC $9,987.50
- Lot 161. 50C 1939 PCGS MS68+ CAC $49,937.50
- Lot 214. $1 1881-S PCGS MS67 CAC $19,387.50
- Lot 234. $1 1884-O PCGS MS62 CAC $$3,055.00
- Lot 247. $1 1885-O PCGS MS65 CAC $8,812.50
- Lot 384. $5 1802/1 PCGS MS64+ CAC $102,812.50
- Lot 417. $20 1922 PCGS MS65+ CAC $18,212.50
Ms. Sperber concluded her comments on the state of the market by saying: “We consider the overall results being very strong. The only areas that showed some weakness was non-CAC Type. Generic gold, of course was super strong, reflecting not just the strength of the numismatic market, but also the increased demand during these uncertain economic times.”
Legend’s next auction will be held on May 28, 2022 in New Orleans, the official auction of the PCGS Members Only Show. Anchored by the Dale Friend Collection, Part 2, the Oak Collection of Mint State $3 Gold Pieces, and the Glorious Patterns Collection, Part 2, this will be another amazing numismatic event. The firm is accepting consignments for Regency Auction 53 (July) and beyond. Talk to us about consigning your coins to our blockbuster auctions!
Apr 26, 2022 | News, U.S. Mint
WASHINGTON –Rolls and bags containing the second American Innovation $1 Coin of 2022 will go on sale April 26 at noon EDT. The reverse (tails) design of the coins in these products honors innovation from the State of Vermont. The following packaging options from the United States Mint (Mint) facilities at Philadelphia and Denver will be available:
| PRODUCT CODE |
PRODUCT OPTION |
PRICE |
| 22GRB |
25-Coin Roll–P |
$34.50 |
| 22GRF |
25-Coin Roll–D |
$34.50 |
| 22GBB |
100-Coin Bag–P |
$117.50 |
| 22GBF |
100-Coin Bag–D |
$117.50 |
Currently, all inventory is reserved for enrollments. However, customers should sign up for REMIND ME alerts, as additional inventory may become available during order reconciliation. All inventory resulting from cancellations, invalid, and/or fraudulent orders will be made available to the general public via “Remind Me” messages. To set up a REMIND ME alert for the Vermont American Innovation $1 Coin product options, visit the product detail page.
Introduced in 2018 and authorized by Public Law 115-197, the American Innovation® $1 Coin Program is a multi-year series featuring distinctive reverse (tails) designs that pay homage to America’s ingenuity and celebrate the pioneering efforts of individuals or groups from all 50 states, the District of Columbia, and the U.S. territories.
The 2022 American Innovation Vermont $1 coin design captures a sense of the energy and exuberance of snowboarding through movement implied by diagonal lines and curved shapes. The coin’s reverse design features a young female snowboarder in the air performing a trick called a “melon grab,” set against a mountainous winter skyline inspired by the landscape of Vermont. Inscriptions are “UNITED STATES OF AMERICA” and “VERMONT.” The design was created by United States Mint Artistic Infusion Program (AIP) Designer Justin Kunz and sculpted by Mint Medallic Artist Craig Campbell.
The obverse (heads) of all coins in this series features a dramatic representation of the Statue of Liberty in profile with the inscriptions “IN GOD WE TRUST” and “$1.” It also includes a privy mark of a stylized gear, representing industry and innovation. AIP Designer Justin Kunz created the design, which was sculpted by Mint Medallic Artist Phebe Hemphill.
Incused on the coin’s edge are “2022,” the mint mark, and “E PLURIBUS UNUM.”
American Innovation $1 Coin Enrollments work like a magazine subscription. After you sign up, you will receive the next product released in the series and continue to receive products until you end your enrollment. Visit American Innovation $1 Enrollments | US Mint Catalog Online to learn more.
Additional American Innovation $1 Coin products are available at: https://catalog.usmint.gov/coins/coin-programs/american-innovation-dollar-coins/.
Note: To ensure that all members of the public have fair and equal access to United States Mint products, the United States Mint will not accept and will not honor orders placed prior to the official on-sale date of April 26, 2022, at noon EDT.
To reduce the risk of employee exposure to COVID-19 in the workplace, the Mint’s sales centers are closed until further notice. Please use the United States Mint catalog site at https://catalog.usmint.gov/ for all order placements or call 1-800-USA-MINT (872-6468).
Apr 15, 2022 | ICTA/NCBA, News
In the summer of 2016, Phil Darby (J & P Coins and Currency) and Steve Caiola (Alabama Gold Refinery) started collaborating with the National Coin & Bullion Association on a campaign to obtain a statewide coin, currency, and precious-metals bullion sales-tax exemption. Darby and Caiola hired Graham Champion (Public Strategies, Montgomery, AL) as the campaign’s lobbyist.
Alabama joined the other states with a sales-tax exemption on June 1, 2018. However, the statute had a five-year sunset provision to provide the state’s fiscal agency the opportunity to verify the projected benefits to the state’s revenue promoted by the campaign.
With the deadline on the sunset provision in sight, the coalition prepared to resume the fight. On February 10, 2021, Senator Tim Melson introduced Senate Bill 218: Taxation, Sales and Use Tax Exemptions for Bullion, Bullion Defined Further, Sales and Use Tax Exemption Extended, Reporting Requirements Waived for Certain Recipients of Tax Exemption. This bill would extend the sunset provision for five more years and change the definition of bullion’s purity from 90% to 80%.
Alabama is eligible to host a national coin show, but opportunities to do so had been impacted by the COVID-19 pandemic. Extending the exemption five more years would give show producers more time to bring a show to the state. Reducing the definition of bullion to 80% purity also makes sense, because some very early US silver coins had purity as low as 89.24% and some early US gold coins had a purity of 89.92%. Many European silver coins had purities as low as 83.5%. Changing the definition from 90% to 80% avoids potential technical glitches.
Darby again engaged Champion as a lobbyist. The bill was heard by the Senate Finance and Taxation Education Committee on March 11, 2021, and they unanimously passed the bill to the Senate with a favorable recommendation. After it passed the Senate, it was referred to the House Ways and Means Education Committee. Unfortunately, the legislative session adjourned sine die before there was any further action on the bill, and the bill died in the House.
On January 11, 2022, Senator Melson again introduced and championed Senate Bill 13, which amends the definition of bullion (as in the previous bill), extends the expiration date for the sales- and use-tax exemption another five years, and repeals reporting requirements for dealers. SB 13 was unanimously passed out of the Senate Finance and Taxation Education Committee on February 23, 2022, and transferred to the House, where it was read for the first time and referred to the House Ways and Means Education Committee. On March 17, the bill was read for the second time and placed on the calendar. The House Ways and Means Education Committee reported the bill favorably, and its third reading occurred on April 6, 2022, when unanimously passed. The bill was delivered to Governor Kay Ivey the following day and was signed into law on April 14, 2022. The bill is effective immediately, with a new expiration date of June 1, 2028.
“This has been a long fight. We are so grateful for the encouragement of NCBA and for Senator Melson’s advocacy of the exemption these last two sessions,” Darby said. “We know the numismatic community in Alabama will have a chance to grow in the coming years and that Alabama’s economy will be the better for it.”
Apr 12, 2022 | ICTA/NCBA, News
On March 2, Virginia governor Glenn Youngkin signed House Bill 3, which extends the sunset date for the sales-tax exemption on gold, silver, and platinum bullion and legal tender coins to June 30, 2025. Under the previous law, the exemption would have expired on June 30, 2022.
In the summer of 2014 John Brush (David Lawrence Rare Coins), with a coalition of coin-business owners, a lobbyist, and NCBA started developing legislation to exempt coins, currency, and precious-metals bullion from Virginia’s sales and use taxes. The legislation provided an exemption that included gold, silver, and platinum purchases whose totals exceeded $1,000. On March 26, 2015, Governor McAuliffe signed the legislation, and the law went into effect on July 1, 2015. However, a sunset provision was also added to the law, so that the original sales tax would be reinstated if new legislation were not passed before the end of the 2018 legislative session.
Efforts continued to eliminate the $1,000 threshold, expand the statute to include coins and currency of numismatic value, and remove the sunset provision. The General Assembly passed legislation in 2018 that expanded Virginia’s sales- and use-tax exemption to include legal-tender coins and extended the exemption until June 30, 2022. The law would have sunset this year unless the industry could demonstrate that Virginia dealers and coin shows were growing again.
On November 29, 2021, House Bill 3: Gold, silver, and platinum bullion, etc.; removes sunset date for the sales tax exemption was introduced by delegate R. Lee Ware and referred to the House Finance Committee. The bill was reported favorably out of committee with amendment on January 19, 2022, and passed the House (Ayes 87; Nays 12) on January 25, 2022. The bill was referred to the Senate Finance and Appropriations Committee, where it was unanimously reported favorably with amendment. The Senate unanimously passed the bill with amendment on February 17, 2022. The House agreed to adopt the Senate amendment to change the statue’s “effective through” year from 2027 to 2025, extending the sunset provision another three years. Governor Youngkin has signed the bill, which goes into effect on July 1, 2022.
A similar bill, HB 936, had also been introduced, which included eliminating the limitation that only purchases of more than $1,000 were eligible for the exemption. Ultimately the two bills ended up in a conference committee composed of House and Senate conferees to reconcile differences in the bills that has passed both chambers. Both chambers agreed to the conference report, and HB 936ER passed the House and Senate. Now legal-tender coins, gold, silver, and platinum purchases no longer need to exceed $1,000 to be exempt. Governor Youngkin signed the bill on April 11, 2022, and it goes into effect on July 1, 2022.
“The political scene was not a world that I ever expected to enter,” said Brush. “But the opportunity to work with other business owners in Virginia and throughout the country to help collectors in my adopted state was one that I could not turn down. As a Tennessean by blood, I heard the call to volunteer, and with the assistance of lobbyist Phil Abraham, we were able to achieve something that we didn’t think was possible, something that will benefit other dealers and collectors for years to come. It was truly an honor to be involved in the legislative process, and I’m really proud to see that common sense, elbow grease, and feet on the ground can really accomplish change in the world of politics. We hope that these efforts will allow the coin hobby and businesses to continue to grow in the Old Dominion.”
