Coin Collectors News

PCGS Certifies Regular-Strike Quarter-Ounce 2021 American Gold Eagles With “W” Mint Marks

Oct 26, 2021 | News

Submitted by GreatCollections, the Type 2 Reverse bullion coins with West Point mint marks were found by Gerald Medel and are now classified as Unfinished Proofs

This photo supplied by GreatCollections Coin Auctions shows a close-up look at the West Point mint mark on one of the regular-issue Type 2 Reverse quarter-ounce American Gold Eagle bullion coins mistakenly struck with an obverse proof die.

(Santa Ana, California) October 26, 2021 – Professional Coin Grading Service (www.PCGS.com) has authenticated and certified 61 regular-issue Type 2 Reverse quarter-ounce American Gold Eagle bullion coins mistakenly struck with a West Point “W” mint mark obverse proof die.

Discovered by Gerald Medel of Lakeside Coins in San Diego, California, the coins were submitted to PCGS on his behalf by Ian Russell, president of GreatCollections Coin Auctions (www.GreatCollections.com) in Irvine, California. PCGS has classified the coins as Unfinished Proofs, and some of the coins now are being offered at auction by GreatCollections.

“These discovery coins show how full of surprises our industry can be. While we eagerly await the details on how these coins came to be, the exciting discovery during a live Instagram auction highlights the adaptation of our hobby to social media and further underscores the rapid growth of the numismatic market over the past two years,” said PCGS President Stephanie Sabin. “We are proud to see more groundbreaking coins find permanent homes in PCGS holders, and there is still plenty of time left in 2021 for more breaking news from PCGS.”

“This is an impressive discovery in a day and age when the United States Mint strives for perfection. Errors on gold coins are always rare and attract significant interest. We are thankful to Gerald for entrusting us with the first coins he discovered,” stated Russell.

Now PCGS-certified, this is one of the regular-issue Type 2 Reverse quarter-ounce American Gold Eagle bullion coins mistakenly struck with an obverse proof die and found in the discovery roll by Gerald Medel of Lakeside Coins. (Photo credit: Professional Coin Grading Service.)

GreatCollections is offering the first 10 error coins in auction without reserve. Bidding ends for five of the coins on Sunday, October 31, with bidding ending for the other five a week later on Sunday, November 7, 2021.

“It would appear that a W mint mark proof die was used in making some of the non-proof bullion coins that are sold through the Mint’s Authorized Purchaser program,” said Russell. “Something similar happened in 1999, when $5 and $10 denomination American Eagle gold coins were also mistakenly struck with W mint marks. Those examples are highly sought after today.”

The first 2021-W quarter-ounce American Eagle Unfinished Proof coin was discovered by Medel in late September when he was live on his Instagram account for Lakeside Coins (www.lakesidecoins.com) while opening a roll of 2021 quarter-ounce American Eagles with the new reverse design. He remained silent when he saw the mint mark and put that coin aside.

“All 40 coins in the roll had the West Point mint mark! The next day I began researching and over next three and a half weeks I located an additional 21 coins for a total of 61 while searching through thousands of coins,” Medel recalled.

“I’ve known Ian since he launched GreatCollections in 2011, and I contacted him about submitting the coins to PCGS. I was so excited about the discovery, my wife and our three children accompanied me from San Diego to Irvine when I delivered the coins to Ian,” Medel said.

The first 40 W mint mark coins found together in one roll are being labeled by PCGS as pedigreed to the “Discovery Roll.”

Steve Feltner, PCGS director of numismatic education and grading team leader, recalled the surprise he felt when he saw the coins for the first time.

“When Ian Russell and PCGS President Stephanie Sabin showed me a few groups of raw gold coins, Ian first handed me a standard business strike 2021 Type 2 quarter-ounce American Gold Eagle and then one in proof. I was wondering where this was going since these two coins are extremely common. I immediately started thinking that the reason for the visit could be a cool repeating ‘struck through’ error or even a newly discovered ‘mule.’ My mind was racing,” said Feltner.

“Then Ian handed me another business strike and gave a knowing smile. My eyes automatically caught the W mint mark and knew he was onto something. After a few seconds of processing, we began to discuss the discovery; a group of American Gold Eagles struck using unfinished proof dies!”

For additional information, contact GreatCollections at 949-679-4180 or visit online at www.GreatCollections.com.

About Professional Coin Grading Service

Professional Coin Grading Service (PCGS) is a third-party coin and banknote grading company that was launched in 1986. Over 35 years, PCGS has examined and certified more than 47 million U.S. and world coins, medals, and tokens with a combined value of over $46 billion. For more information about PCGS products and services, including how to submit your coins for authentication and grading, please visit www.PCGS.com or call PCGS Customer Service at (800) 447-8848.

About GreatCollections

GreatCollections is an auction house for certified coins and banknotes, handling transactions from start to finish. Since its founding in 2010, GreatCollections has successfully auctioned over 950,000 certified coins, making it one of the leading certified coin companies in the United States. Ian Russell, owner/president of GreatCollections, is a member of the prestigious Professional Numismatists Guild and member of the National Auctioneers Association. For more information, visit www.GreatCollections.com or call (800) 442-6467.

Treasury Announces Appointment of Ventris Gibson as Deputy Director of the U.S. Mint

Oct 25, 2021 | News, U.S. Mint

WASHINGTON — Today, the U.S. Department of the Treasury announced the appointment of Ventris Gibson to serve as Deputy Director of the U.S Mint. Ms. Gibson brings decades of senior federal service to the role and is a United States Navy veteran. She will serve as Acting Director, making her the first Black person to head this bureau.

“Ventris’ decades of federal service will be an asset to the U.S Mint and the dedicated workers who carry out its operations,” said Deputy Secretary Wally Adeyemo. “Her historic appointment reflects our ongoing commitment to building a qualified, diverse workforce at Treasury and its bureaus that will serve the American people well.”

“Thank you to the Secretary of the Treasury for entrusting me with this important responsibility,” said Ventris Gibson. “I am delighted to join the U.S. Mint and excited to continue connecting America through coins alongside the highly dedicated and professional workforce of this agency.”

Prior to joining the Mint, Ms. Gibson served as the Director of Human Resources for Washington, DC’s Department of Human Resources. During her tenure with the DC government, she provided executive oversight and execution of human capital programs and services for nearly 37,000 employees.

Ms. Gibson, a United States Navy veteran, also previously served as the Associate Deputy Assistant Secretary for Human Resources for the U.S. Department of Health and Human Services. In this capacity, she was responsible for the development, articulation, and delivery of Department-wide human resources policies, plans, and programs.

Ms. Gibson’s career with the Federal government also includes the Federal Aviation Administration where she served as the Assistant Administrator for Human Resources and in the Department of Veterans Affairs (VA) as the Deputy Assistant Secretary for Human Resource Management and its first Deputy Assistant Secretary for Resolution Management. She was VA’s highest-ranking woman veteran and directed human resources management and civil rights programs affecting 230,000 employees.

With a career that spans more than 40 years in both human resources executive and professional positions, Ms. Gibson is the recipient of numerous awards and commendations. She has received the Exceptional and Meritorious Service Awards, FAA Manager Association’s Leadership Award, National Hispanic Coalition’s President’s Award, and the Northern New Jersey Metropolitan Area’s prestigious “Woman of the Year” award.

A graduate of the Federal Executive Institute, Executive Technique, and Aspen Institute, Ms. Gibson attended the University of Maryland, University College. Ms. Gibson has three children, 4 grandchildren, and 2 golden retrievers.

Money Talks Speakers Invited to Present at Colorado Springs National Money Show®

Oct 25, 2021 | ANA, Announcements

American Numismatic Association (ANA) members are encouraged to share their ideas and research with fellow hobbyists by delivering a Money Talks presentation at the 2022 National Money Show in Colorado Springs, Colo., March 10-12 at The Broadmoor.

Those interested in giving a Money Talks presentation should submit an online proposal at money.org/numismatic-events/money-talks. Proposals are due no later than Tuesday, Dec. 7.

The informative 30- to 45-minute Money Talks are presented by some of the hobby’s most noted authorities and allow collectors to share their expertise with the numismatic community. Presentations from previous shows include “Siege Notes: The Currency of War,” “Strategies to Dispose of Your Collection” and “Curious Currency of the World.”

Money Talks presentations should be accompanied with digital images. Contact Sam Gelberd, the ANA’s numismatic educator, at (719) 482-9846 for additional information.

Proposals can be submitted online or emailed to sgelberd@money.org.

The annual National Money Show will provide collectors access to hundreds of dealers offering extensive numismatic inventory at all price levels, an auction, exhibits of rare and historical treasures, and educational programming for both beginning and seasoned hobbyists. Additional information is available at www.NationalMoneyShow.org, by calling (800) 482-9828 or emailing convention@money.org.

Support Campaigns to Protect Your Business from State Greed

Oct 25, 2021 | ICTA/NCBA, News

In light of the Supreme Court’s South Dakota v. Wayfair decision, what would it mean for your business to be free of the burden of collecting sales tax on the coins, currency, and precious-metals bullion you sell?

Even if your business is not located in one of the states below, if any of your customers—be they wholesale or retail—are located in any of these states, you may be required to collect and file state taxes on their behalf.

The National Coin & Bullion Association, in conjunction with coalitions of coin and bullion dealers from each state, is seeking to protect coin- and bullion-based businesses from government overreach by supporting sales-tax exemptions in every state across the country. Our current battles are at critical junctures, and we need your help!

The average cost for a campaign lobbyist in each state is $30,000. Expenses for expert witnesses and NCBA staff typically amount to another $5,000.

Your contribution of $300, $500, or even $1,000—today—is essential to our success. Many have already given time and money—and even pledged additional amounts for these campaigns—and we are so grateful to them. But these laws affect more than just the business owners living in the states below. If you do business with anyone in these states, we want and need your help.

We know how to approach these campaigns. We have marshaled our arguments, and we have the expertise to frame them properly to legislators. We have already obtained backing from legislators who will sponsor bills. However, we must have the financial resources necessary to make it happen.
The benefits to you and your business will be significant. Do not put this off. This will be the most important investment in your business you will make this year. You will be proud to say, “I helped!” instead of “I wish I had.”

Alabama: Seeking to remove the sunset provision that expires on June 1, 2023. For more information or to contribute toward lobbyist fees and other campaign expenses, please contact Phil Darby at (256) 335-2352 or via email at phil.darby@comcast.net.

Kentucky: Seeking to create a new exemption. To contribute toward lobbyist fees and other campaign expenses, please make your check payable to Bluegrass Coin Club and mail the check to C/O Mid-American Rare Coin Galleries, 1707 Nicholasville Road, Lexington, KY 40503. Write on the check “Kentucky Campaign.” For more information, please contact Jeff Garrett (Mid-American Coin Galleries, Lexington) at (859) 276-1551 or via email at coinman4u@aol.com; Johnathan Kern (Johnathan Kern Coins, Lexington) at (859) 269-1614 or email jkerncoins@aol.com; or Byrd Saylor (Louisville Numismatic Exchange, Louisville) at (502) 584-9879 or email bsaylor@louisvillenumismatic.com.

New Jersey: Seeking to create a new exemption. To kick off fundraising for the lobbyist fees and other campaign expenses, member Richard Cohen (National Watch & Coin) will match other contributions dollar-for-dollar, up to $10,000. To contribute, please make your check payable to NCBA, P.O. Box 237, Dacula, GA 30019. Write on the check “New Jersey Campaign.” For more information, please contact NCBA at (678) 430-3252 or via email at icta@ictaonline.org.

Tennessee: Seeking to create a new exemption. To contribute toward lobbyist fees and other campaign expenses, please make your check payable to Tennessee Precious Metals, Coin & Currency Coalition, P.O. Box 2869, Brentwood, TN 37024. For more information, please contact Col. Steven Ellsworth (Butternut, Brentwood) at (703) 932-6331 or via email at butternut@butternut.org; David Hall (Hallmark Rare Coins, Kodak) at (865) 643-8435 or email david@hallmarkrarecoins.com; or Bruce Paulhamus (Southern Precious Metals Exchange, Chattanooga) at (423) 825-4653 or email southernpmx@gmail.com.

Virginia: Seeking to remove the sunset provision that expires on July 1, 2022. To kick off fundraising for the initiative, John Brush (David Lawrence Rare Coins) will match other contributions dollar-for-dollar, up to $10,000. To contribute toward lobbyist fees and other campaign expenses, please make your check payable to DLRC, P.O. Box 9174, Virginia Beach, VA 23450. Write on the check “Virginia Campaign.” For more information, please contact John Brush at (757) 491-1060 or via email at john@davidlawrence.com.

About NCBA

The National Coin & Bullion Association, the new trade name for the Industry Council for Tangible Assets, is a 501(c)(6) tax-exempt trade association dedicated to the coins, currency, and precious-metals bullion communities for over 38 years. NCBA exists to promote and safeguard the interests of its members, serving as the industry watchdog to maintain a favorable legislative and regulatory climate in the United States federal government and individual state governments. For more information, visit nationalcoinbullionassoc.org or email icta@ictaonline.org.

Unprecedented Agreement: PCGS Partners With Central States Convention

Oct 25, 2021 | Announcements, Shows & Conventions

Professional Coin Grading Service is now the Official Grading Service for the Central States Numismatic Society

CSNS Convention Manager Larry Shepherd and PCGS President Stephanie Sabin

October 25, 2021 — Professional Coin Grading Service (www.PCGS.com), the leader in third-party authentication and grading services for high-value collectibles including rare coins, banknotes, trading cards, tickets, autographs, and memorabilia, has entered into an important partnership agreement with the Central States Numismatic Society (www.CentralStatesNumismaticSociety.org) and the CSNS annual convention.

Underscoring the importance of the partnership, it is the first time PCGS has entered into this kind of agreement with any coin show not affiliated with its parent company, Collectors Universe, Inc. Central States officials are planning to expand their convention starting with the 2022 show.

“What especially excites me about this new relationship with PCGS is that we’ll be working together to find new and better ways to serve the numismatic community,” CSNS Convention Manager Larry Shepherd.

PCGS is now the Official Grading Service for the Central States Numismatic Society. This will involve all categories of numismatic coins and paper money, including U.S. and world coins, ancients, and U.S. and world banknotes,” according to Shepherd.

“PCGS and Collectors Universe will also be the Official Supplier of Grading and Authentication for sports-related items as well as numismatic items for the CSNS convention,” he added.

“PCGS has been a long-time supporter of the Central States Numismatic Society and we are excited to legitimize our relationship through a formal partnership,” said PCGS President Stephanie Sabin. “We are committed to bringing leading authentication and grading services to the bourse floor in addition to exciting and engaging displays. This partnership is the perfect example of two powerful entities within our hobby combining forces to drive education and provide the best services possible to collectors of all experience levels.”

The next CSNS convention will be conducted April 26-30, 2022 at the Renaissance Hotel and Convention Center, 1551 Thoreau Dr., in the Chicago suburb of Schaumburg, Illinois. That is the site of previous CSNS conventions in recent years.

There will be a 2022 PNG Day for the Professional Numismatists Guild and its invited guests. Additional information about that event will be announced in the coming weeks.

“After the disappointing cancellations of our conventions the past two years because of the pandemic, we now are eagerly preparing for a major ‘welcome back’ event in 2022,” stated Shepherd.

“We will be enlarging the show with a bigger bourse floor area to conveniently accommodate more dealers and visitors. Official auctions will be conducted by both Heritage Auctions (www.HA.com) and Legend Rare Coin Auctions (www.LegendAuctions.com) in conjunction with the 2022 CSNS convention. Positive Protection, Inc. will be providing security,” he explained.

Applications for dealer tables and for entering exhibits as well as hotel reservation information and the schedule of events will soon be posted on the CSNS website at www.CentralStatesNumismaticSociety.org/convention.