Apr 3, 2020 | Announcements, PNG
Accredited Precious Metals Dealers Urge Caution Against Market Scams
(Temecula, California) April 2, 2020 — The recent jump in the price of gold due to stock market decreases and fear of the coronavirus has attracted new retail customers. The financial and public health concerns have also lured a return of many previous gold and silver bullion customers, but some inventories of physical bullion are low, according to members of the Accredited Precious Metals Dealer program (www.APMDdealers.org), a division of the nonprofit Professional Numismatists Guild (www.PNGdealers.org).
“The ‘Gold Rush’ of significantly higher prices that started almost a year ago for gold continues with more new customers entering the market as well as current or former customers now adding more precious metals to their investments. We’ve had reports of increases of 10 to 20 percent in recent business,” said PNG-APMD President Richard Weaver.
“Some elderly investors are taking advantage of the price increase to sell their bullion coins and ingots to raise cash for paying taxes, medical expenses and buying food,” added Weaver. “We are also hearing from bullion dealers facing dwindling inventory, such as silver American Eagles, because of delivery delays from the United States Mint and private mints that produce silver rounds. The premiums charged over the spot price of the bullion have risen significantly, double in some cases from a few weeks ago.”
An informal survey of APMD member-dealers indicates some bullion coin and ingot buyers are focusing on silver because of the approximately 110 to 1 price ratio with gold.
“Buyers should be wary of counterfeit gold coins in the marketplace, many of them apparently made in China, and also be cautious of scam artists trying to lure them with urgent claims of too-good-to-be-true low prices and quick, guaranteed bullion market profits,” warned Weaver.
He also cautioned that investors should not confuse so-called tribute coins with actual bullion items.
“Many of the privately created tribute coins are made of base metal and merely coated with a microscopically thin layer of gold worth only about a dollar. Genuine American Eagle and Canadian Maple Leaf legal tender bullion coins are over 99 percent gold,” he explained.
“If you don’t know precious metals coins, you’d better know your precious metals coins dealer! You don’t want to pay too much or unwittingly purchase counterfeits when you buy, receive too little when you sell or send money to an unscrupulous seller who completely fails to deliver ordered merchandise,” he cautioned.
There are 51 Accredited Precious Metals Dealer members across the United States and each must adhere to a strict code of ethics (https://APMDdealers.org/apmd-code-of-ethics/) in the buying and selling of numismatic bullion items and guarantee the authenticity of the merchandise they sell.
A directory of APMD members can be found at www.APMDdealers.org/apmd-dealers. For additional information, contact the Professional Numismatists Guild at 951-587-8300 or by email at info@PNGdealers.org.
Mar 22, 2020 | Announcements, PNG
(Temecula, California) March 19, 2020 – The Professional Numismatists Guild (www.PNGdealers.org) is now accepting nominations for its 2020 awards, according to PNG Executive Director Robert Brueggeman.
“Each year the PNG publicly recognizes outstanding achievements in the hobby and the profession by honoring deserving recipients with awards in a half-dozen categories. We cordially welcome and strongly encourage nominations from all collectors and dealers,” said Brueggeman.
Award nominations must be made by May 29, 2020, and should be sent directly to the appropriate award category officials. The categories and contacts are:
Abe Kosoff Founders Award: Presented to a PNG member-dealer with steadfast dedication to the entire numismatic community and who has made a significant contribution to the Guild or to the numismatic fraternity in general the past year. The award is named after PNG’s Founding President who spearheaded the 1953 launch of the organization. Committee Chairs: Richard Weaver and Wayde Milas. Emails: RWeaver@dvrcc.com and WMilas@rarecoa.com.
Sol Kaplan Award: To recognize efforts and contributions in combatting crimes against the numismatic community, this award is presented to someone who has given their time in an attempt to rid the profession of fraud and thievery. The award is jointly presented by the PNG and the Lewis M. Reagan Foundation. It is named after a former PNG President and Ohio dealer who was personally responsible for the apprehension of several people suspected of committing numismatic-related crimes. Committee Chair: Robert Brueggeman. Email: Bob@ppius.com.
Robert Friedberg Award: Presented to an author in recognition for an outstanding book or other literature. Named in honor of a publisher and author of numismatic reference books, this award is not automatically given each year. It is only given when there is deemed to be a worthy recipient or recipients. Committee Chair: James A. Simek. Email: nge3@comcast.net. Note: A copy of each book nominated for this year’s award must be submitted for delivery no later than May 30, 2020 to James A. Simek, P.O. Box 7157, Westchester, IL 60154-7157.
Lifetime Achievement Award: Presented to a numismatist for his/her extraordinary devotion to numismatics and who, over their lifetime, significantly contributed to the hobby or profession. Committee Co-Chairs: John Brush and James Sego. Emails: John@DavidLawrence.com and JSego@JMScoins.com.
Significant Contribution Award: Given to those who have made exceptional, beneficial efforts over the years on behalf of PNG and the profession, and also added to the hobby. Committee Co-Chairs: Barry Stuppler and Duston Johnston. Emails: Barry@Stuppler.com and Dustin@ha.com.
Art Kagin Ambassador Award: This award is named after a former PNG President and nationally-known Iowa dealer who provided distinguished service as an advocate of numismatic goodwill. Committee Co-Chairs: Don Ketterling and Don Rinkor. Emails: DHKconsulting@verizon.net and Don@rinkor.com.
The award winners will be announced at the annual PNG Day banquet scheduled for August 3, 2020 following the planned PNG Day show (www.PNGdealers.org/png-events). The PNG Day show, at the David L. Lawrence Convention in Pittsburgh, Pennsylvania, will be open to the public and conducted the day before the start of the planned American Numismatic Association’s World’s Fair of Money® (www.WorldsFairofMoney.com) at the convention center.
The Professional Numismatists Guild is a nonprofit trade association composed of the country’s top rare coin and paper money dealers who must adhere to a strict Code of Ethics (www.PNGdealers.org/code-of-ethics) in the buying and selling of numismatic merchandise.
For additional information about the PNG awards, contact Robert Brueggeman, PNG Executive Director, 28441 Rancho California Road, Suite 106, Temecula, CA 92590. Phone: 951-587-8300. Email: info@PNGdealers.org. Online: www.PNGdealers.org.
Mar 22, 2020 | Announcements, U.S. Mint
WASHINGTON – The United States Mint (Mint) will begin accepting orders for the 2020 America the Beautiful Quarters Uncirculated Coin Set™ (product code 20AA) on March 24 at noon Eastern Daylight Time (EDT).
Priced at $16.00, this ten-coin set consists of five uncirculated quarters from the Philadelphia Mint and five uncirculated quarters from the Denver Mint. The coins have reverse (tails) designs representing the 2020 America the Beautiful Quarters Program honorees:
- National Park of American Samoa (American Samoa)
- Weir Farm National Historic Site (Connecticut)
- Salt River Bay National Historical Park and Ecological Preserve (U.S. Virgin Islands)
- Marsh-Billings-Rockefeller National Historical Park (Vermont)
- Tallgrass Prairie National Preserve (Kansas)
The obverse (heads) design of all coins in the set features the 1932 portrait of George Washington by John Flanagan, which has been restored to bring out subtle details and the beauty of the original model.
The Mint accepts orders at catalog.usmint.gov/ and 1-800-USA-MINT (872-6468). Hearing- and speech-impaired customers with TTY equipment may order at 1-888-321-MINT. Information about shipping options is available at catalog.usmint.gov/customer-service/shipping.html.
The 2020 America the Beautiful Quarters Uncirculated Coin Set can also be ordered through the Mint’s Product Enrollment Program. Visit catalog.usmint.gov/shop/product-enrollments/ for more details.
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 and time of March 24, 2020, at noon EDT.
Mar 15, 2020 | Announcements, Shows & Conventions
Notice to 81st Anniversary Convention booth holders, sponsors, and attendees,
The Central States Numismatic Society has canceled its April 22-25, 2020 convention because of the coronavirus outbreak. “Our focus is the safety and health of our booth holders, exhibitors, collectors and the general public. Therefore, in accordance with recommendations from health officials to cease activities where people gather together in large and close groups, we are canceling our convention,” CSNS President Mitch Ernst said.
The official CSNS convention auctions held by Heritage Auctions will still be held on the dates scheduled. However, the location has changed from the Renaissance Schaumburg Convention Center in suburban Chicago to Heritage’s headquarters in Dallas, TX, instead. For more information on these auctions, please visit the Heritage website – www.ha.com.
CSNS understands the logistical challenges facing those who had made plans to attend the convention and will be reaching out to booth holders and exhibitors in the coming days to discuss options. Hotel reservation questions should be directed to the Renaissance Schaumburg Hotel at 847-303-4100.
“We thank our many friends in the numismatic community, including educational exhibitors, numismatic professionals and collectors for their past support of our conventions and look forward to seeing them at our 82nd Anniversary Convention next year in Schaumburg,” Convention Chairman Kevin Foley said.
Our booth holders will have their choice of a refund of bourse fees paid, or the option of carrying those paid fees forward to our 2021 convention, April 21-24 2021. Those who select the option of carrying their paid fees forward will retain their already assigned booth location for the now cancelled 2020 event for 2021. Your choice should be communicated to Convention Chairman Kevin Foley.
Will will be working closely with our headquarters hotel, the Schaumburg Renaissance, to find the most efficient method of cancelling hotel reservations and refund of any deposits that may have been paid for reservations made under our room block. Once those consulations have concluded, we will be in further touch. Questions should be sent to our Convention Chairman, Kevin Foley, at kevinsfoley.kf@gmail.com or (414) 807-0116.
Mar 14, 2020 | Announcements
(Pelham, AL) — The 74th edition of the coin-collecting hobby’s annual Guide Book of United States Coins (popularly known as the “Red Book”) will debut April 7, 2020. The new volume includes completely updated pricing and auction data reflecting the current market for collectible U.S. coins, along with historical information and guidance on how to build a valuable collection. The Red Book can be pre-ordered online (including at Whitman.com) in several formats, and after April 7 will be available from booksellers and hobby shops nationwide.
Coin collectors have used the Red Book to value their collections since the 1st edition was published in 1946. Senior Editor Jeff Garrett attributes the book’s strength to its network of experts. “Whitman relies on a system of more than a hundred professional coin dealers, researchers, and other specialists from around the country,” Garrett said. “Their expertise covers every segment of American coinage—not just in accurate real-world pricing, but also in the latest discoveries in numismatic scholarship.”
Research Editor Q. David Bowers said, “The Red Book is the one reference I keep handy when buying, selling, or writing about coins. Every year it becomes more valuable for hobbyists and researchers. The 2021 edition is the best yet.”
Editor Emeritus Kenneth Bressett noted, “There have been ups and downs in the market over the past twelve months. Studying the Red Book gives smart collectors an understanding of the trends across all U.S. coin series.”
The 74th-edition Red Book is 464 pages long and prices nearly 8,000 entries in up to 9 grades each, with more than 32,000 retail valuations in total. Its panel of retail-pricing contributors includes more than 100 active coin dealers and market analysts with decades of experience.
The book covers United States coins from 1792 to date, from half cents to $20 gold double eagles, commemoratives, and bullion, plus earlier coins and tokens that circulated in colonial times. The latest coins from the United States Mint—Lincoln cents, Jefferson nickels, Roosevelt dimes, America the Beautiful quarters, Kennedy half dollars, Native American dollars, American Innovation dollars, commemorative coins, bullion coins, and government-packaged coin sets—are kept up to date. The book also includes error coins, Civil War tokens, Confederate coins, Philippine coins struck under U.S. sovereignty, private and territorial gold pieces, pattern coins, Hawaiian and Puerto Rican coinage, Alaska tokens, So-Called Dollars, special modern gold coins, and other specialized topics.
These are illustrated by 2,000 photographs, including enlarged close-ups of rare and valuable die varieties.
Inside the 74th edition Red Book:
New commemorative coins. The 74th-edition Red Book features coins from the Mint’s new 2020 commemorative programs. The Naismith Memorial Basketball Hall of Fame program includes half dollars, silver dollars, and five-dollar gold coins. The Women’s Suffrage Centennial program calls for a commemorative silver dollar.
Other new U.S. Mint coins and sets. The 74th edition includes 119 new Mint products added since the 73rd edition. Mintages have been updated across the board using the latest numismatic research and government-supplied data. Collectors will also find complete coverage of the full range of American Eagle and other popular bullion coins and sets (in silver, gold, platinum, and palladium), with mintages and values for each.
A study of foreign coins that circulated in America. The 74th edition continues a section that debuted with the 70th: an overview of foreign coins that circulated as legal tender in the British American colonies and in the United States until the late 1850s. This section includes photographs, history, and pricing for collectible Spanish-American, Dutch, French, and English coins dating from the 1550s to the 1820s.
Recent research and the latest Mint data. Updates based on recent scholarship can be found in sections including pre-federal coins and tokens, Heraldic Eagle Bust dollars, and California fractional gold. Modern-coin updates include new information on the 2019 and 2020 West Point cents and nickels; the Mint’s change from .900 fine to .999 fine silver; the American Innovation dollar program; American Palladium Eagles; the new George H.W. Bush Presidential dollar; and updates to all ongoing Mint programs.
Auction records. As in past years, collectors benefit from the Red Book’s recent auction records provided for significant rare coins. Typeset throughout the charts are nearly 200 notable auction results. Combined with the listed retail prices, the auction data help advanced collectors understand the modern market for high-priced rarities. In addition, the appendix of the “Top 250 U.S. Coin Prices Realized at Auction” has been fully updated. More than 100 auction sales were higher than $1 million each. The coin at #250, an 1880 Coiled Hair $4 gold Stella, sold for $618,125, which is more than $14,000 higher than last year’s coin in that ranking.
A bibliography for further research. In a positive measure of the health of the hobby and ongoing numismatic research, the Red Book’s newly revised and updated bibliography includes more than two dozen standard references published over the past five years.
The cover of the spiral-bound 74th edition shows a mix of old and modern American coins: an 1898 Barber half dollar; a 1787 Immunis Columbia copper (bearing the words E PLURIBUS UNUM); and a 1986 Statue of Liberty commemorative half dollar, with sculptor John Mercanti’s “A Nation of Immigrants” design.
All versions and formats (hardcover; spiralbound hardcover; spiralbound softcover; and Large Print) of the 74th-edition Red Book will be available online, and at bookstores and hobby shops nationwide.
# # #
A Guide Book of United States Coins, 74th edition
464 pages
Full color
By R.S. Yeoman; senior editor Jeff Garrett; research editor Q. David Bowers;
editor emeritus Kenneth Bressett.
$15.95 convenient lay-flat spiralbound
$17.95 classic red hardcover
$19.95 spiralbound hardcover
$29.95 Large Print Edition
$49.95 expanded Deluxe Edition (Mega Red) (1,504 pages)
Mar 14, 2020 | Announcements, U.S. Mint
WASHINGTON – The United States Mint (Mint) is temporarily closing public tours of its facilities in Philadelphia and Denver beginning Monday, March 16. The Denver and Philadelphia Mint gift shops and the Washington, DC coin store will also be temporarily closed. This action is being taken to reduce the risk of Mint employees’ exposure to Coronavirus (COVID-19).
According to Mint Director David J. Ryder, “the health and safety of the Mint workforce is my highest priority. Many Mint employees interact with visitors from throughout the country and the world as tours are conducted. Public health officials are still learning about how COVID-19 spreads, so out of an abundance of caution, I have decided it is prudent to close our tours, gift shops and coin store. I understand this is an inconvenience to people who were looking forward to seeing how we mint our nation’s coins and medals, but my employees and their well-being are my greatest concern. We intend for this to be a temporary rather than a permanent closure. The Mint will continue to fulfill its mission of protecting our nation’s strategic assets and producing trusted currency, while also taking appropriate precautions given current public health risks.”
Ryder went on to state that no Mint employees have tested positive for COVID -19.
The Mint will announce the resumption of public tours as well as its gift shops and coin store through a press release and via social media.
ADDITIONAL RESOURCES:
Mar 12, 2020 | Announcements, Shows & Conventions
Stack’s Bowers Galleries Auction to Be Held as Scheduled in California
(Baltimore, Maryland) — On Thursday, March 12, under a state of emergency declared by Maryland Governor Larry Hogan, the Baltimore Convention Center suspended operations and activities in response to the COVID-19 coronavirus pandemic. The Whitman Coin & Collectibles Expo, previously scheduled for March 19–21 at the Convention Center, will be closed for all bourse activities including dealer buying and selling, educational programs, and club meetings. The auction of Stack’s Bowers Galleries, the official auction company of the Whitman Coin & Collectibles Expo, will be held on the previously announced dates. Stack’s Bowers Galleries will provide auction location information and other details on their web site, www.stacksbowers.com, in the near future.
Governor Hogan announced the highest activation level of the Maryland Emergency Management Agency at 4:15 p.m. Thursday. Containment strategies include restricting public access to state buildings, and prohibiting “any social, community, religious, recreational, or sports gatherings or events of more than 250 people in close proximity at all locations and venues across the state. All planned large gatherings and events must be canceled or postponed.”
Management and staff of the Whitman Coin & Collectibles Expo express their deepest concerns for everyone affected by the COVID-19 coronavirus pandemic. “Our highest priority is the safety and health of our dealers, collectors, and the general public,” said Expo manager Lori Kraft. “We also understand the challenges for dealers and collectors who were looking forward to the show. All Whitman Expo booth holders will be contacted by Whitman staff over the next seven business days to discuss in further detail.”
Kraft continued, “We look forward to welcoming everyone back to an upcoming Whitman Expo, for our usual bourse activities, including educational programs, Kids Korner activities, and coin-club meetings.”
Updates and news regarding the Whitman Baltimore Expo will be posted at expo.whitman.com.
For updates on COVID-19 in Maryland and elsewhere, visit www.cdc.gov/coronavirus/2019-ncov.
Feb 27, 2020 | Announcements, U.S. Mint
WASHINGTON – The United States Mint (Mint) will be at booth #729 at the American Numismatic Association’s (ANA) National Money Show on February 27, 2020, at the Cobb Galleria Centre in Atlanta, GA.
Mint Director David J. Ryder will participate in the official ribbon-cutting ceremony on Thursday, February 27, at 9:15 a.m. (ET), followed by a product signing event at booth #729 from 1:00 p.m. to 3:00 p.m.
The Mint will be releasing the 2020 United States Mint Proof Set® (product code 20RG) on February 27 at noon.
Attendees will also have the opportunity to:
- Speak with United States Mint employees
- View holograms of various characters and products at the booth
- Meet “Mighty Minter” Layla the Peahen
- Obtain free educational resources for educators
- Gather information on the Mint’s H.I.P. Pocket Change website, engage in educational activities, learn about Mint programs and operations, and gain an understanding of the link between coins and American history and culture
- Provide their email addresses to receive product updates and alerts and opt-in as a Mint customer
- Participate in the “Treasure Trivia” game, where children visit specific locations on the bourse floor to answer trivia questions designed to instill an appreciation for numismatics
- Exchange money for the most recently released America the Beautiful Quarters® coin
- Get help downloading the MyUSMint mobile application.
A wide variety of Mint products will be available for purchase over the counter, including the 2020 American Eagle Silver Proof Coin; 2020 Happy Birthday Coin Set, Birth Set, and Congratulations Sets; and 2019 American Innovation™ $1 Reverse Proof Coins. The Mint will also be selling Bureau of Engraving and Printing products, including $1 Five–Note Uncut Currency Sheet; $1 50–Note Uncut Currency Sheet; and $2 32–Note Uncut Currency Sheet.
All products are available for purchase through the Mint’s online catalog at catalog.usmint.gov/ or by calling 1-800-USA-MINT (872-6468). Hearing and speech impaired customers with TTY equipment may order by calling 1-888-321-MINT (6468). Additional information about coins and collecting can be found on the Mint’s website, USMint.gov. For more information about the BEP or currency production, please visit BEP.gov.
Feb 23, 2020 | Announcements, Shows & Conventions
(Pelham, Alabama) — Whitman Publishing author William Bierly will meet collectors and autograph copies of his new book, In God We Trust: The American Civil War, Money, Banking, and Religion, at the American Numismatic Association’s National Money Show, February 27 and 28, 2020, in Atlanta, Georgia. The 352-page hardcover book will be available at the show at the Stanton Books and Stone Mountain Supply booth.
Bierly will be at the Stanton Books booth on Thursday and Friday, with times to be announced at the show.
The national motto “In God We Trust” debuted on United States coinage during the American Civil War. It has appeared on our money ever since. Bierly, having researched deep into the origins and history of “In God We Trust,” tells its full story for the first time, introducing Reverend Mark Watkinson, the preacher who inspired the Treasury Department to “recognize Almighty God in some form on our coins” . . . Mint Director James Pollock, former governor of Pennsylvania, “a commanding figure” who worked toward the same vision . . . and Treasury Secretary Salmon P. Chase, nephew of an Episcopal bishop, who marshalled the nation’s resources and financed the war with bold innovations. President Abraham Lincoln figures in the tale, as does a cast of military generals, wealthy industrialists, poets and artists, powerful bankers, and everyday Americans, North and South.
Bierly shows how the upheaval of the Civil War changed not just the face of our coins and paper currency, but the very foundations of modern American banking and finance.
The story continues into the renaissance of beautiful American coinage started by President Theodore Roosevelt in the early 1900s . . . the religious revival of the 1950s, and the “Unwritten Constitution” . . . legal challenges by modern-day atheists . . . and controversy surrounding “In God We Trust,” public and school prayer, Ceremonial Deism, the separation of Church and State, and other topics very relevant in today’s social and political conversations.
Historian Q. David Bowers, former president of the American Numismatic Association, calls In God We Trust “One of the most detailed, intricate, and fascinating books in the field of American numismatics—and in American history in general.” On the author’s style, Bowers says, “Bierly approaches the subject respectfully on all sides, with color, personality, dashes of humor, and dogged pursuit of the truth.”
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Feb 18, 2020 | Announcements, U.S. Mint
WASHINGTON – The United States Mint (Mint) will begin accepting orders for the Andrew Jackson Presidential Silver Medal (product code S807) on February 24 at noon EST. The medal is priced at $46.00.
Struck in 99.9 percent fine silver, the medal features Jackson’s portrait on the obverse (heads) with the inscriptions “ANDREW JACKSON,” “PRESIDENT OF THE UNITED STATES,” and “A.D.1829.” Moritz Furst, an early nineteenth century medallic artist, designed and sculpted the obverse.
The medal’s reverse (tails) features the inscription “PEACE AND FRIENDSHIP,” symbolized by two hands clasped in a token of amity. On the cuff of the left wrist are three stripes and buttons, while the other wrist is bare. Above the hands, the pipe of peace and tomahawk are crossed over each other. The reverse was designed and sculpted by John Reich, United States Mint Assistant Engraver in the early nineteenth century.
Each medal is encapsulated and comes with a Certificate of Authenticity.
The Mint accepts orders at catalog.usmint.gov/ and 1-800-USA-MINT (872-6468). Hearing- and speech-impaired customers with TTY equipment may order at 1-888-321-MINT. Visit catalog.usmint.gov/customer-service/shipping.html for information about shipping options.
The Andrew Jackson Presidential Silver Medal will also be available at the Mint’s sales centers in Washington, D.C.; Philadelphia; and Denver. Availability may be limited and subject to change.
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 Feb. 24, 2020, at noon EST.
