Rare Coin Market Soaring But Use Caution, Advises Professional Numismatists Guild Experts

If you don’t know coins or precious metals, you’d better know your dealer

(Temecula, California) February 8, 2022 — The rare coin market in early 2022 continues to soar following a record-breaking marketplace in 2021. However, veteran dealers in the Professional Numismatists Guild (www.PNGdealers.org) urge collectors and investors to be cautious about the continuing proliferation of fraudulent, online advertisements selling counterfeit coins and fake gold, silver, and platinum bullion items or grossly overpriced genuine gold and silver coins.

“Last year, a record 22 U.S. coins sold at auction for $1 million or more and hundreds of other historic coins and banknotes priced from $1,000 and up set new records when more than $551 million of U.S. rare coins were sold at major public auctions,” said PNG President Richard Weaver. “The market boom continues as during the first month of 2022, there were reports of nearly $70 million of U.S. coins already sold at major auctions in January.”

Weaver cautions consumers and investors that social media platforms have become the predominant choice of counterfeit coins and bullion market fraudsters.

“In addition to outright fakes, some unscrupulous sellers offer illegal ‘replicas’ of historic coins that are not marked ‘COPY’ as required by federal law. The Anti-Counterfeiting Educational Foundation (www.ACEFonline.org) estimates the cost to unsuspecting victims is in the millions of dollars in lost investments,” he stated.

According to the Foundation’s Director of Anti-Counterfeiting, former Texas Police Chief Doug Davis, in one recent case, an unwary buyer unsuspectingly purchased $27,000 of counterfeit one-ounce “silver” coins from a pop-up ad that appeared on Facebook.

There are red flags to help identify suspected bad actors (https://acefonline.org/anatomy-of-fraudulent-facebook-pop-up-ads).

First, beware of offers too good to be true, such as prices well under the actual market value for genuine items. For example, one advertiser offered Morgan silver dollars (struck between 1878 and 1921) for only $8 per “coin,” but genuine examples of these types of popular U.S. silver dollars each contain about $17 worth of silver, and most have a higher numismatic/collector value.

The Commodities Futures Trading Commission and more than two dozen individual states recently filed a lawsuit against a California company alleging the firm “fraudulently solicited approximately $68 million from more than 450 members of the public to purchase precious metals” and that “customers significantly overpaid for silver coins,” according to the complaint filed in federal court. The defendants named in the lawsuit are not members of the Professional Numismatists Guild.

“Remember, if you don’t know rare coins or precious metals, you’d better know your dealer,” Weaver emphasized.

Members of the Professional Numismatists Guild and their Accredited Precious Metals Dealers program (www.APMDdealers.org) must adhere to a strict code of ethics in the buying and selling of numismatic and bullion merchandise. For a list of member-dealers, visit www.PNGdealers.org or call PNG headquarters in Temecula, California at (951) 587-8300.

“The Closest Thing to Time Travel”—A Review of Kenneth Bressett’s New Study of Ancient Coins

Whitman Publishing’s new book by Kenneth Bressett, Bible Lore and the Eternal Flame, will debut in March 2022. The 224-page hardcover volume will be available from bookstores and hobby shops and online (including at Whitman.com), and in the meantime is available for preorder. Here, David Hendin, first vice president of the American Numismatic Society and a noted author in the field of ancient coinage, gives his impression of the book.

Whitman Publishing announces the March 2022 release of Bible Lore and the Eternal Flame.

Ken Bressett is one of the grandmasters of numismatics. He has thrilled oh-so-many people with his passion for telling stories that help us understand our own histories through the study of coins. I have had the pleasure of knowing Ken for around 40 years, and his fascination with coins and their stories is clearly infectious to all of his many readers and friends.

In Bible Lore and the Eternal Flame, Ken narrates the Greatest Story Ever Told by taking readers on a journey of facts and artifacts going back several millennia, to trace the origins of our Judeo-Christian traditions.

As usual, he fills a gaping need by presenting a narrative for beginners in the study of coins or other small remnants from ancient civilizations. At the same time, if the reader is more experienced, Ken provides plenty of rewards. He is a teacher, a motivator, and a preacher of the numerous positive aspects of the study of coins and other artifacts that link the modern reader to history.

One need not be religious or even agree that the Bible is a divine text to fully appreciate the thrill of reading Ken’s narratives and seeing the excellent photographs of the objects being discussed. Ken reminds me very much of my late dad, also a numismatist, when he writes, “Knowing that genuine artifacts still exist provides a gateway to strengthening one’s faith and provides a tangible connection to the past that can only be experienced through studying or actually seeing some of these interesting items. They are the closest thing to ‘time travel’ that one can ever experience.”

Ken talks about the invention of writing and shows us examples of the earliest clay tablets with cuneiform letters. In his specialty of numismatics, he discusses trade and commerce from the earliest forms of barter through the precious-metal economy, and into the age of coins in which we still live. Many readers will realize the actual connection between money and writing—the earliest writing was used to keep accurate records of financial transactions and accounts! Coins emerged more than a millennium later than the invention of writing.

Was Jesus a pioneer scholar of numismatics? Perhaps, since he shows us his own interest in money—16 of the 40 parables refer to coins or money, and “the topic is mentioned throughout the scriptures more than almost any other subject,” Ken explains.

Ken uses examples of coins of the ancient world, and the stories related to them, to narrate the Judeo-Christian tradition from the invention of coinage right up to the Byzantine period. He begins his story in the days of the Old Testament, a time before coins existed, when “shekel” referred to a weight of metal, mainly silver. But, as the story reaches the “30 pieces of silver,” Ken explains that now they are talking about coins—and he identifies them as silver shekels of Tyre. They portrayed a heathen god but were the purest of silver and truest of weight of their time, and they were the only coin accepted by the Temple. Because Jews made pilgrimages to Jerusalem from around the ancient world, they arrived carrying only their local coins. These were converted into Tyre shekels or half-shekels by moneychangers near the Jerusalem Temple and, indeed, it was the behavior of these money changers that caused Jesus to disrupt their business by upturning their trading tables.

Through coins, readers reach the landmark when Rome accepted Christianity at the time of Constantine the Great (A.D. 307–337). Constantine had a dream before the battle of the Milvian Bridge in A.D. 312. In his dream, a flaming cross with the Latin words In hoc signo vinces (“By this sign you will conquer”) appeared. “From that time forward, the Roman sun god was removed from Constantine’s coins and replaced with non-religious depictions,” Ken writes. Fascinating. I am betting that many professors of ancient history do not know this, because many historic details that are reflected in contemporary coins of the realm are often ignored except by specialists.

Ken also tells us that the face of Jesus does not appear on coins until the seventh-century reign of Justinian II. As for the origins of that image—well, Ken will tell the story better than I can here, so read his book!

Many readers of Bible Lore and the Eternal Flame will be surprised to learn that so many objects used around the time of Jesus still exist and can be seen in museums and private collections throughout the United States and the world. Ken not only tells us about these objects—from coins to oil lamps and ancient glass—but shows us photos of fascinating examples.

Indeed, each of these ancient objects is a portal to a continuum of human life across 4,000 years, an authentic key to the mind. Is every story true? We can never know. But Ken weaves tales that have been reconstructed by scholars since the Renaissance.

I found Bible Lore and the Eternal Flame to be a fun and fascinating book, and I’m happy to encourage you to read it, too.

Numismatic historians Kenneth Bressett (left), Robert Hoge (center), and David Hendin (right).

David Hendin is a specialist in weights and currency of the ancient Levant, especially Judaean and biblical, local provincial, and Nabataean numismatics. He is author of the Guide to Biblical Coins (sixth edition, 2022) and ten other books, as well as articles in scholarly journals and his monthly column for The Celator. He joined the American Numismatic Society in 1976 and is now a Life Fellow and member of the Augustus B. Sage Society.
Bible Lore and the Eternal Flame, first edition.
By Kenneth Bressett; foreword by David Hendin.
ISBN 0794849768. Hardcover, 6 x 9 inches, 224 pages, full color.
Retail $24.95 U.S.

The Royal Mint sends largest coins in its history to 700-year-old Trial of the Pyx

Trial of the Pyx 2022 – 10 Kilo Queens Beasts Completer coin

The largest coin ever created by The Royal Mint, the 10-kilo Queen’s Beasts gold proof, is one of the coins sent to the Trial of the Pyx this year. The Royal Mint’s coins were submitted for testing on 1st of February at Goldsmiths’ Hall in the City of London in the annual centuries-old ceremony.

The 10-kilo coin is part of the ‘Masterworks’ collection from The Royal Mint – a new series of larger, one-of-a-kind pieces for collectors. The coin was made using a combination of traditional skills and innovative technology, creating a unique and beautiful work of art.

Other special coins being tested this year include a 9.5kg ‘Masterwork’ celebrating Her Majesty the Queen’s 95th birthday. The coin bears the inscription ‘my heart and my devotion’ taken from the Queen’s speech first televised on the Christmas broadcast of 1957.

Also attending the Trial of the Pyx this year is the world’s most visually secure bullion coin, the Britannia which contains four innovative security features. These include a latent image, surface animation, micro-text and tincture lines – all of which provide security and peace of mind for consumers.

As The Royal Mint continues to diversify as a business, precious metals pieces are becoming more popular with investors as a store of wealth. All coins made by The Royal Mint are subject to the testing process at Trial of the Pyx – the responsibility of the Goldsmiths’ Company – which ensures coins produced are of the highest standard.

Queens Beasts Completer being examined at Trial of the Pyx 2022

The Trial, the UK’s oldest judicial ceremony, aims to protects consumers and upholds the quality of the nation’s coinage – as important today as it has been since the first public Trial in 1248. This includes ensuring the coins maintain the precision and accuracy that The Royal Mint is known for. The trial brings together The Goldsmiths’ Company, The Goldsmiths Company Assay Office and The Royal Mint to ensure the integrity of the coins it creates.

A sample of new coins struck by The Royal Mint is rigorously and independently checked for fineness and quality by an independent jury of Goldsmiths’ Company members, before further analysis by the Goldsmiths’ Company Assay Office – which will test the purity of precious metal by taking samples from the coins.

Anne Jessopp, CEO, The Royal Mint commented: “As Britain’s oldest company, we have an incredible 1,100-year heritage which includes the ancient Trial of the Pyx ceremony. We are the only Mint in the world to be subject to such rigorous independent testing, and it upholds the trust and quality that The Royal Mint is famous for.

“Our business is evolving, and the coins we submit to the Trial of the Pyx today look very different to those submitted in the twelfth century. This year two of the largest coins ever made by The Royal Mint will appear before the trial – including a 10kg gold Masterwork which took 400 hours to make. The Trial will authenticate the quality and metal content of the coin reinforcing its value as a piece of art.”

Dame Lynne Brindley, Prime Warden (Chairs the Board) of the Goldsmiths’ Company commented: “There are two sides to every coin. There are two sides to the future of coins: less daily use but renewed popularity of their commemorative and investment possibilities. Coins are items of beauty, fine craftsmanship and design excellence. The Trial of the Pyx retains its relevance to consumers, collectors and the digital economy, and the Goldsmiths’ Company is very proud to be involved today, as we have been for seven hundred years”.

More information on the Trial can be found here.

First Coin in United States Mint American Women Quarters™ Program Available February 7

WASHINGTON – On February 7, at noon EST, the United States Mint (Mint) will begin accepting orders for products featuring the first coin in the American Women Quarters Program. The coin honors writer, poet, performer, social activist, and teacher Maya Angelou.

Angelou rose to international prominence as an author after the publication of her groundbreaking autobiography, “I Know Why the Caged Bird Sings.” Angelou’s published works of verse, non-fiction, and fiction include more than 30 bestselling titles. Her remarkable career encompasses dance, theater, journalism, and social activism. The recipient of more than 30 honorary degrees, Angelou read “On the Pulse of Morning” at the 1992 inauguration of President Bill Clinton.  Angelou’s reading marked the first time an African American woman wrote and presented a poem at a Presidential inauguration. In 2010, President Barack Obama awarded Angelou the Presidential Medal of Freedom, and she was the 2013 recipient of the Literarian Award, an honorary National Book Award for contributions to the literary community.

The coin’s reverse (tails) design depicts Maya Angelou with her arms uplifted. Behind her are a bird in flight and a rising sun, images inspired by her poetry and symbolic of the way she lived. It was designed by United States Mint Artistic Infusion Program Designer Emily Damstra and sculpted by United States Mint Medallic Artist Craig A. Campbell. Inscriptions are “UNITED STATES OF AMERICA,” “MAYA ANGELOU,” “E PLURIBUS UNUM,” and “QUARTER DOLLAR.”

The obverse (heads) depicts a portrait of George Washington, originally composed and sculpted by Laura Gardin Fraser to mark George Washington’s 200th birthday. A recommended design for the 1932 quarter, then-Treasury Secretary Mellon ultimately selected the familiar John Flannigan design. Inscriptions are “LIBERTY,” “IN GOD WE TRUST,” and “2022.” The obverse design is common to all quarters issued in the series.

Product options and pricing are below.

PRODUCT CODE PRODUCT OPTION MINT MARK PRICE
22WBA 100-Coin Bag P $40.00
22WBB 100-Coin Bag D $40.00
22WRA Two-Roll Set P, D $36.00
22WRB Three-Roll Set P, D, S $54.00

Coins in bags are produced at the Philadelphia and Denver Mint facilities. The three-roll set contains coins from Philadelphia, Denver, and San Francisco.

Numismatic Products

We invite you to learn more and enroll in the American Women Quarters Program today. Limited quantities will be produced, so sign up to ensure you receive a complete collection of American Women Quarters Program numismatic products.

Purchase the rolls and bags of the Maya Angelou Quarters by visiting the product detail page.

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 February 7, 2022, at noon EST.

Royal Mint Release Obverse of Gothic Crown Commemorative Coin as part of in ‘Great Engravers’ Collection

The Royal Mint today (Monday 7th February) released the latest coin to be remastered as part of their Great Engravers series; the obverse of the iconic Gothic Crown by renowned engraver William Wyon. This coin features the Gothic Crown portrait of Queen Victoria combined with the portrait of Her Majesty Elizabeth II designed by Jody Clark on the reverse. The coin will still be dated 2021 in recognition of the earlier release, giving collectors a second chance to own the sought-after collectible, again combined with the current portrait of the Queen. As the coin bears a 2021 date, it also went to the Trial of the Pyx last week.

The original coin featured a cruciform arrangement of the Royal Arms in a Gothic style on the reverse (tails side) and the portrait of Queen Victoria on the obverse (heads side). The Royal Mint split the obverse and reverse designs to create two commemorative coins to add to collections.

Five extremely limited, graded presentation sets containing an original coin and both the new commemorative versions in 2oz gold, will also be created. Four go on sale today via telephone sales only, offering collectors the chance to own all three coins. One additional set be reserved for the Tokyo International Coin Convention where The Royal Mint, in partnership with Taisei Coins, will be holding an auction in April this year.

The Royal Mint launched their Great Engravers range in 2019 with Una and the Lion, followed by the Three Graces, both designed by William Wyon, originally produced in 1839 and 1817 respectively. Both are well known as being incredibly beautiful and intricate designs, and the Royal Mint’s Chief engraver Gordon Summers, together with his team, have revived the designs with state-of-the-art technology. The tooling for the modern coins has been taken directly from the original tools worked on by Wyon in the 1800s, remastered by The Royal Mint’s expert team, over 150 years after the original was created.

Introduced in 1847 on the silver crown, the Gothic Crown was created by William Wyon, former Chief Engraver at The Royal Mint. Queen Victoria’s portrait was portrayed in a medieval style, representing the fanciful splendour of the era. Only 8,000 were initially minted at the time alongside a very small quantity of gold.

The Great Engravers Gothic Crown will be available in five sizes in both Gold and Silver: 2kg, 1kg, 10oz, 5oz and 2oz. There will also be two 5kg struck in Gold and one 10kg.

For more information, visit https://www.royalmint.com/our-coins/events/the-great-engravers/gothic-crown/.

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