Jul 2, 2018 | ANA, News
Every year, the ANA recognizes members who go above and beyond with their service and dedication in numismatics. Awards are given to those who display a passion for the hobby, a willingness to expand it and a pride in being involved.
The Adna G. Wilde Jr. Memorial Award for Exemplary Service honors an ANA member who dedicates their time and resources to strengthen the hobby and further the educational mission of the ANA, and sets an example for others to follow.
This year, the award will be presented to ANA life member John D. Nebel of Boulder, Colorado. He will be honored during the ANA World’s Fair of Money in Philadelphia at the ANA Member and Awards Celebration on Thursday, August 16.
Nebel joined the ANA in 1989. He customized the ANA’s member database and in 1995, registered and purchased the ANA’s signature money.org. domain name. Since 2015, he has served the American Numismatic Society in New York City as a life fellow and trustee.
Since 2014, Nebel has authored biannual articles for The Numismatist about his passion, ancient coins. His immersion in numismatics has led him to study classic literature, learn to decipher Attic Greek (the language of ancient Athens), and make friends in the Classics Department at the University of Colorado. Nebel manages to devote many hours to numismatics and the intense study it demands and always welcomes opportunities to support the ANA and its educational programs.
The Medal of Merit honors individuals who have dedicated numerous years of service to the Association and promotion of the hobby. The 2018 recipients will be recognized at the ANA World’s Fair of Money in Philadelphia, to be held August 14-18.
- ANA Treasurer Larry Baber has spent 25 years volunteering at the ANA’s annual conventions. Since 1977, he has dedicated his talents to judging exhibits at ANA conventions, even serving as chief judge in 1994-95. Baber has held various offices in clubs throughout the United States, including the San Diego Numismatic Society, Maui Coin Club, California State Numismatic Association and Hawaii State Numismatic Association. He also serves as a public speaker, presenting talks at local, state and national meetings and conventions, and has earned numerous accolades for his own exhibits.
- Longtime ANA Summer Seminar instructor and Early American coinage expert, John Kraljevich Jr. ;is the second recipient. When he was just 16, he received the ANA’s Outstanding Young Numismatist of the Year award. He has served as secretary of the Colonial Coin Collectors Club (1994-96), vice president of the Medal Collectors of America (2003-06) and secretary of the Early American Coppers (2008-12). An ANA member since 2008, Kraljevich volunteers as an exhibit judge, has authored numerous award-winning articles and contributed content to more than a dozen books and auction catalogues.
Numismatic Art Award for Excellence in Medallic Sculpture recognizes an individual whose imaginative compositions transcend circulating coins.
The recipient this year is Carsten Theumer, from Zeitz, Germany. From 1977-82, he studied sculpture with Bernd Göbel at the Giebichenstein Art Academy, where he currently works as an artist and teacher. Known for his mastery of the small form and his bronze sculptures, his work has been featured in solo and group exhibitions worldwide and is part of many museum collections, including the British Museum in London and institutions in Pernik, Bulgaria; Edinburgh, Scotland; and Dresden, Munich, Stuttgart, Nuremberg and Berlin, Germany. His best-known coin design is the 10-euro commemorative coin produced to honor the 200th anniversary of Friedrich Schiller’s death in 2005.
Harry J. Forman Dealer of the Year honors a professional numismatist who shows uncommon dedication to strengthening the hobby and the ANA, and displays exemplary ethical standards as a numismatic dealer.
This year, the award was presented to Larry L. Lee by former ANA President and good friend Jeff Garrett in May. Lee began his hobby when he was a teenager by collecting silver pieces he came across. After reading an issue of Coin World magazine, he found people looking to purchase specimens made of the disappearing medal. After he sold his first piece, he was hooked. In 1972, Lee joined the ANA as a life member and is also a member of the Professional Numismatists Guild and was certified by Accredited Precious Metals Dealers in 2015. At an April 25, 2013 Heritage Auctions sale, Lee purchased a 1913 Liberty Head nickel previously owned by the late collector/dealer George O. Walton. He is also the owner of the 1861 Paquet reverse double eagle, of which only two are known to exist.
The American Numismatic Association is a congressionally chartered, nonprofit educational organization dedicated to encouraging the study and collection of coins and related items. The ANA helps its 25,000 members and the public discover and explore the world of money through its vast array of educational and outreach programs as well as its museum, library, publications, and conventions. For more information, call 719-632-2646 or visit www.money.org.
Jun 29, 2018 | Auctions, News
David Lawrence Rare Coins, on behalf of Dell Loy Hansen, acquired one of the fifteen known examples of the world-famous 1804 Draped Bust Dollar, known as the “King of American Coins” for $2.64 million via the Heritage Auctions event on June 14th, hosted by the Long Beach Coin Expo. As one of only eight Class I 1804 dollars, it was struck in the mid-1830s as part of special sets to be given as diplomatic gifts. This piece is graded Proof 62 by PCGS.
Known as the Mickley-Hawn-Queller specimen, the piece has a long history that can be traced back to at least 1847. In its most recent prior auction appearance in August 2013, it realized $3,877500 in a Heritage auction. While the present offering brought far less than what was anticipated by most, it was this opportunity that encouraged John Brush, President of David Lawrence Rare Coins (DLRC), to enter the bidding.
Mr. Brush stated, “We were ecstatic to be a part of the purchase of such a legendary numismatic rarity. We purchased the coin on behalf of our partner, Dell Loy Hansen, to be added to his incredible collection. We had discussed the coin prior to the auction, but the decision to bid on it was literally made 5-10 lots before it was auctioned. With the previous auction records from 2008 and 2013 at $3.7-$3.8M, we thought it would be a bargain if we could acquire it somewhere below $3M. In the end, we thought the final realization of $2,640,000 was a fantastic value, and we were very happy to add it to the fantastic collection of Mr. Hansen.”
Businessman Dell Loy Hansen, owner of the Real Salt Lake Major League Soccer team and partner with John Brush at DLRC, has been in the process of building a world-class coin cabinet to rival the Eliasberg Collection of U.S. Coins over the past three years. The 1804 dollar was an addition that many thought would elude him. However, his patience was rewarded in this acquisition, and it appears that he obtained the coin at a significant value. As Mr. Hansen stated, “This is another important piece for our ‘Quest for Eliasberg,’ and we are excited to add it to the collection.” With the curatorial help of John Brush and the team at David Lawrence, the collection now contains in excess of 10,000 coins, many of which are the finest graded. Seconded only by the National Numismatic Collection at the Smithsonian, the D.L. Hansen Collection now surpasses in quality (according to the PCGS Set Registry) the legendary collection of Louis Eliasberg, and is considered by many as the Greatest U.S. Coin Collection of All-Time.
Historically, the 1804 dollar has long been considered the world’s most valuable coin. However, several pieces have entered the market in recent years, amongst them a 1933 Saint-Gaudens Double Eagle, of dubious legal origin, that realized $7.59 million in 2002. Still, the 1804 dollar is one of the hobby’s most famous rarities and is coveted by collectors the world over.
ABOUT DAVID LAWRENCE RARE COINS
David Lawrence Rare Coins was founded in 1979 by David Lawrence Feigenbaum, in a spare bedroom. A passionate collector his entire life, he made the jump to dealing when his collecting desires surpassed his limited professor’s budget. David passed away after a long battle with ALS (Lou Gehrig’s Disease), and David’s son, John Feigenbaum took the reins and oversaw the company’s growth until 2015. In August of 2015, John became the Publisher of the CDN Publishing and passed operations to John Brush.
Mr. Brush directs the company with the help of an extremely dedicated staff of 20 employees. The management team has a cumulative total of over 80 years with the company and the team of numismatists offer over 100 years of experience. They are deeply passionate about all aspects of coin collecting, and whether the coin is $5, $50 or $5 million, they are here to serve the collector with the best quality, service, and price possible. Brush and the DLRC staff are also equally focused on bringing the latest technology advances to the hobby.
The company has handled many legendary rarities of United States numismatics including the finest certified 1796 No Pole Liberty Cap Half Cent, two examples of the 1894-S Barber Dime, a gem 1876-CC Twenty Cent Piece, the finest known 1901-S Barber Quarter, three of the 12 known 1870-S Seated Dollars, the historic 1815 $5 Gold Half Eagle, one of the two known 1825/4 $5 Gold Half Eagle, and the Mickley-Hawn-Queller 1804 Proof Draped Bust Dollar. They also helped to assemble and then sell the $25 million Richmond Collection at three public auctions hosted in New York City and Baltimore, Maryland and are the curators of the All-Time Greatest Collection of U.S. Coins, the D.L. Hansen Collection.
David Lawrence Rare Coins is an industry leader in the trading and auctioning of U.S. rare coins certified by PCGS, NGC, and CAC. DLRC holds weekly internet auctions and offers sellers the options of direct sale or consignment to auction. To work with David Lawrence or for any question as to how they can help your collection, please call 1-800-776-0560 or email coins@davidlawrence.com.
DLRC is located in Virginia Beach, VA, and offers products via their website, trade shows, Amazon, eBay, as well as several other numismatic-related venues.
Jun 27, 2018 | Bureau of Engraving and Printing, News
The Monthly Production Report for May 2018 Has Been Posted.
Please click here to access the report.
Jun 27, 2018 | ICTA/NCBA, News
Since 1986 when the United States Mint first introduced silver and gold American Eagle bullion coins, they have been top sellers in the United States as well as around the world.
A new survey conducted by the Anti-Counterfeiting Task Force indicates the popular U.S. bullion coins are now leaders in a category their manufacturer would rather not be in—the most frequently encountered bullion coin counterfeits.
Some 43.3 percent of coin dealers in the United States report encountering customers seeking to sell them counterfeit silver American Eagle bullion coins. Similarly, 41.2 percent report customers trying to sell them fake gold American Eagle bullion coins. The most frequently encountered fake foreign gold bullion coins include the South African gold Kruggerand at 30.4 percent, the Canadian gold Maple Leaf at 24.2 percent, and Mexican gold 50 pesos at 20.1 percent.
“The survey results are not surprising to us,” said Beth Deisher, the Industry Council for Tangible Assets Director of Anti-Counterfeiting. “Counterfeiters—primarily from China—target the most popular products, usually market leaders with the highest brand identification.”
She cited survey results in two other categories – bullion bars and collectible classic U.S. coins.
PAMP (Suisse) gold ingots and bars are the worldwide market leader; 57.8 percent of U.S. dealers in the survey reported customers seeking to sell them counterfeit gold PAMP bars and 36.1 percent reported encountering fakes of Australia’s Perth Mint gold bars. For silver, fakes of privately minted bars bearing the logos of the SilverTowne Mint, 24.7 percent, and the private Sunshine Mint (19.9 percent) registered highest in the survey.
Among collectible classic U.S. coins, Morgan silver dollars at 71.7 percent led the list of most frequently encountered counterfeits, followed by Trade dollars, 66.6 percent; Seated Liberty dollars, 48.6 percent; Lincoln cents, 35.9 percent; Peace dollars, 33.1 percent; and Early American copper large cents and half cents, 29.7 percent.
Among collector gold U.S. coins, 42. 1 percent of the dealers reported counterfeits of the $2.50 gold coin are the most frequently encountered, followed by fakes of $5 gold, 36.2 percent; $20 gold, 33.4 percent; $1 gold, 33.1 percent; and $10 gold, 27.6 percent.
Deisher noted it is illegal to possess, buy, or sell counterfeits of U.S. or foreign coins and that most dealers refuse to knowingly purchase fakes.
“Dealers tell us they often encounter people who have unknowingly purchased fake coins or bars via the internet or from flea markets thinking they have gotten a bargain because the price they paid is a fraction of the market value of the real items. When they attempt to sell their “bargains” to dealers they learn there is no Santa Claus in numismatics. Their fakes are worthless.” Deisher said.
She said that dealers also encounter people trafficking in counterfeits who know exactly what they are trying to sell. “The traffickers are quick to leave when they realize they can’t fool the dealer,” Deisher explained.
According to the survey, 92.4 percent of the dealer respondents said they rely on their personal knowledge of coins and bars to identify fakes and 60.6 percent use counterfeit detecting equipment to verify their suspicions. Some 41.4 percent report having completed counterfeit detection classes with the remainder having attended seminars or educational presentations detailing deceptive counterfeits in the marketplace.
More than 80 percent of the survey participants noted an increase in the number of counterfeit coins and bars entering the marketplace during the past five years.
Had the counterfeits they have encountered in the past year been genuine, 28.8 percent estimated the value would have been between $1,000 to $5,000 with 8.4 percent estimating the value at more than $300,000. More than 50 percent of the respondents placed the value between $5,000 and $300,000.
More than 68 percent of the dealer respondents reported encountering counterfeits sporadically over weeks and months, while 9.2 percent reported being offered them two to three times a week and 1.9 percent being offered them daily.
Deisher emphasized that members of the buying public can best protect themselves from counterfeits by purchasing from knowledgeable, reputable dealers and directly from the government or private Mints that manufacture the coins and bars.
The online survey of dealer members of the Industry Council for Tangible Assets, the Professional Numismatist Guild, and the American Numismatic Association was developed and conducted June 7 through 14 by the Research Work Group of ICTA’s Anti-Counterfeiting Task Force.
The Industry Council for Tangible Assets formed the Anti-Counterfeiting Task Force in January 2017. ACTF’s mission is to educate law enforcement authorities and policymakers about the rising threat of counterfeiting, mobilize law enforcement to attack counterfeiters where they are most vulnerable and provide expertise and other resources in the investigation and prosecution of counterfeiters and those involved at all levels of their distribution networks.
ICTA is a 501(c)(6) non-profit association and is supported solely by dues and contributions. The ACTF is supported solely by contributions. Contributions or gifts to ICTA or ACTF are not tax deductible as charitable contributions. However, contributions may be deductible as a business expense, so please consult with your tax accountant. For those who wish to make a charitable tax-deductible donation, please make checks payable to the Anti-Counterfeiting Educational Foundation and mail to ICTA, P.O. Box 237, Dacula, GA 30019. For information about donating, contact Beth Deisher at 567-202-1795; email beth.deisher@ictaonline.org.
Jun 27, 2018 | News
Robbery Policy and Procedures — A Risk Assessment
The recent alert sent out by NCIC showed graphic photos of the recent armed robbery of Fort Worth Coin Company in Fort Worth, Texas. The incident illustrates the risk of operating a brick and mortar business. It is imperative that shop owners have robbery policy and procedures in place to reduce the risk of violence against employees and customers.
Are You and Your Employees Prepared
The attached document developed by NCIC provides shop owners with a basic armed robbery policy and procedure. However, this is only one component of an overall risk assessment of business operations that should be updated and reviewed with employees periodically.
To reduce the risk of armed robbery employers should also review and evaluate other operational issues which include; opening and closing procedures, cash control, physical security/device measures and identifying suspicious persons/activity.
ROBBERY POLICY and PROCEDURES
(EXAMPLE)
An armed robbery is a serious crime that could have a significant impact on the health, safety, and welfare of you, your staff and customers. It is therefore important for your business to have security and armed robbery procedures in place and for all staff to be familiar with them.
It is important to remember two things:
- Robbers want one thing — your money or property — and they want it quickly.
- Robbery is a risky business and robbers are usually nervous. You do not want to delay a robbery in any way and increase the potential for violence. Give the robber what he or she wants and do it quickly. Do not risk your life or another person’s life, for property.
Develop a checklist for employee responsibilities after an incident. Identify who will call the police, secure evidence, lock the doors, and advise employees not to share the experience with co-workers or customers so they can provide an independent account of the event during the Robbery
- Be a good witness. Stay calm, alert, and aware of your surroundings. If possible, write down everything you remember. The more accurate the description, the more chance the police have to apprehend the criminal. Pay attention to the type and color of clothing, unique characteristics such as scars, tattoos, birthmarks, and mannerisms. Note the direction of travel in which the robbers fled. If they flee in a vehicle, be aware of the type and color and if possible, the license plate number.
- Always consider the individual armed and dangerous as well as possibly being under the influence of drugs or alcohol.
- Give the robber exactly what he/she wants. A robber will rarely hurt you unless you resist or provoke them.
- The object is to get the robber out of your place of business as soon as possible.
- Don’t fight or chase the robber. Nothing is worth your life.
- Always tell the robber about surprises. They may resort to violence should they be startled.
- Let the robber make the first move. Keep your hands in plain sight. Never make sudden or unexpected movements. Never argue or play games with the individual(s).
- If you can’t or don’t know how to comply with their command, give the robber a clear and convincing reason. (Ex. “I don’t have the combination to the safe.”)
Remember: Money and material items can always be replaced. Your health and safety cannot!
After the Robbery
The Numismatic Crime Information is providing this information as a basic guide in developing policy and procedures in the event of a robbery and should be reviewed on an annual basis as part of an overall business risk assessment and analysis.
I hope the information provided will assist you in the development of an overall security plan for your business.
Jun 27, 2018 | Auctions, News
Diverse offering of rarities will make the July temperature in Vegas even hotter
(June 20, 2018—Lincroft, NJ)—If you think Las Vegas is HOT in July, step inside our auction room—the atmosphere will be even hotter! Legend Auctions is proud to have produced yet another mindboggling auction for the 27th Regency Auction. The amazing coins in this sale could possibly beat the record-breaking results in our May 2018 Regency Auction 26. As always, the Regency Auction is the official Auction of the PCGS Member’s Show; July’s event will be conducted at Caesar’s Palace on Thursday, July 26, 2018 beginning at 4:30 PST.
With 604 lots, the July 2018 Regency Sale is anchored by eight SUPERB consignments:
The RanJack Morgan Dollar Collection—a very high-end quality collection of Philadelphia, San Francisco, and New Orleans mint Morgans. Many of these are among the FINEST known and all were hand selected by a very picky collector over the course of more than two decades.
The Aurora Borealis Collection—a few more select duplicates from this monster collection of amazing toned dollars.
The Liberty Sunrise Collection—a complete set of Peace dollars offering original toning. The degree of toning varies from light gold to superb bag toning. Many pieces were purchased at previous Legend Auctions.
The South Texas Collection—a partial 18th century U.S. type set assembled by a very fastidious collector client of Legend Numismatics. Each coin was hand selected for the client by Laura Sperber, and every coin is PCGS-graded and CAC-approved. Each coin in this collection is a highlight! The collector is now moving on to another area of numismatics.
The Pharma Collection—a selection of coins from a Legend Numismatics collector client who sold the majority of his collection previously. The coins in RA27 were retained as his favorites. He is now retiring and decided to sell of these remaining highlights. What a killer group of 19th century type coins! Again, since every coin was purchased from Legend, and hand selected by Laura Sperber, each coin is PCGS/CAC and has awesome eye appeal.
The Huron Hills Collection—selections from a collection that is now being refocused. Each coin is PCGS/CAC and very high end! This group’s focus is Morgan dollars, Walkers, and commems.
The Chester Roche Collection—fresh to the market, this collection of 49 pieces is a wonderful holding of gold dollars and quarter eagles. The collector was active back in the mid to late 1990s and many of the coins are housed in old green tag PCGS holders.
The Steven Cook Collection of Patterns, Part 2—the final installment of this very extensive collection of pattern coins. A very diverse offering of issues, including many R-7 Judd numbers. Part 1 was sold in our May Regency Auction and was very well received. This second part has a neat offering of off-metal gold patterns and some GEM silver dollar patterns in copper.
“We are extremely excited about the Regency Auction 27! The sale features so many high-end and FRESH to the market coins, the quality of the sale is remarkable,” explained Julie Abrams, LRCA President. “This is one of the greatest grouping of collections we have ever presented for auction!”
Founder Laura Sperber interjected, “Every coin in the South Texas and Pharma Collections is a highlight! Our favorites from these two collections, hand assembled by Legend Numismatics for two very picky collectors, include: H10C 1796 13 Stars. MS65+, the 25C 1796 PCGS AU53, and the out of this world 50C 1795 PCGS MS64+ and 5C 1908 PCGS PR67 CAM CAC. This coin is virtually a DCAM, $1 1897 PCGS PR68 CAM CAC, $2.50 1871 PCGS MS65 CAC, $20 1906 PCGS MS66 CAC.”
Julie Abrams continued, “Morgan dollar collectors will be able to bid on many amazing superb GEM examples from the RanJack and Aurora Borealis Collections. Collectors of better date gold will certainly be excited by the Chester Roche Collection, and its offering of high grade, rare gold dollars and quarter eagles. Pattern specialists will certainly find many coins of interest in Part 2 of the Steven Cook Collection.”
“Presented alongside the anchor consignments are hand-selected coins from a wide variety of sources. Every numismatic enthusiast will find many great coins at all price points from $1,000 to over $250,000,” notes Greg Cohen, senior numismatist for the firm. “There are many important rarities in many series from other consignors as well. This sale presents a very important opportunity to buy AMAZING coins. Just take a look at the highlights listed below. There will be something for everyone in this sale, and we anticipate record participation, as we saw in New Orleans.”
“Demand for inclusion in this sale was white hot,” Laura Sperber explained. “The Legend team vetted each coin for this important sale, and there were over 100 coins that were submitted for consignment, that we did not take because of value or quality considerations. Clearly what is being offered is exceptional! Know that we really do make it so you can bid with confidence that you will get a very impressive coin!”
Highlights of Regency Auction 27 include:
- Lot 20 $1 1884-S PCGS MS63 From the RanJack Collection
- Lot 25 $1 1886-O PCGS MS64+ CAC From the RanJack Collection
- Lot 48 $1 1894-S PCGS MS65+ CAC From the RanJack Collection
- Lot 71 $1 1903-S PCGS MS66 CAC From the RanJack Collection
- Lot 95 $1 1892-O PCGS MS66+ CAC
- Lot 106 $1 1904-O PCGS MS66+ DMPL CAC
- Lot 160 $1 1927-S PCGS MS65 CAC From the Liberty Sunrise Collection
- Lot 174 1C 1794 Head of ’94. PCGS MS66+ BN CAC Ex Lord St. Oswald. From the South Texas Collection
- Lot 218 1C 1909 V.D.B. Matte Proof. PCGS PR66 RB CAC
- Lot 239 3CS 1863/2 PCGS PR67 CAM
- Lot 264 H10C 1803 Small 8. PCGS AU55
- Lot 295 25C 1911-S PCGS MS67+ CAC Ex Eliasberg
- Lot 300 25C 1916 Standing Liberty. PCGS MS66 FH CAC
- Lot 319 50C 1829 NGC PR63 CAC
- Lot 367 $1 1851 Restrike over O-mint Seated Dollar. PCGS PR63
- Lot 405 G$1 1849-C Open Wreath. PCGS MS63 From the Chester Roche Collection
- Lot 417 G$1 1862 PCGS MS67 CAC From the Chester Roche Collection
- Lot 430 $2.50 1835 PCGS MS63 CAC From the Chester Roche Collection
- Lot 436 $2.50 1856-O PCGS MS60 From the Chester Roche Collection
- Lot 459 $2.50 1900 PCGS PR67 DCAM CAC
- Lot 465 $3 1887 PCGS PR65+ DCAM CAC
- Lot 466 $4 1879 Flowing Hair Stella. PCGS PR64 CAC
- Lot 473 $5 1854-C PCGS MS62 CAC—a new discovery
- Lot 484 $10 1900 PCGS PR66+ DCAM CAC
- Lot 498 $20 1908-S PCGS MS66 CAC
- Lot 532 5C 1866 J-461. PCGS PR66 CAM CAC From the Steven Cook Collection, Part 2
- Lot 540 $10 1868 J-663. PCGS PR64 From the Steven Cook Collection, Part 2
- Lot 554 $2.50 1869 J-770. PCGS PR64+ CAM CAC From the Steven Cook Collection, Part 2
- Lot 585 $1 1879 J-1616. PCGS PR66 RB From the Steven Cook Collection, Part 2
Legend’s Regency Auction 27 is now open for bidding. To view these, and all other lots visit www.legendauctions.com today. Lot viewing will take place at the PCGS Members Show on July 24, 25, and 26. If you need to make arrangements to view lots at LRCA’s office, please call or email ASAP (732-935-1168 or info@legendauctions.com).
Legend Rare Coin Auctions is a boutique auction company specializing in the finest and rarest U.S. coins. Founded in 2012 by Laura Sperber, the owner and president of Legend Numismatics, the premier rare coin retail firm, LRCA was, from the outset designed to be a different kind of rare coin auction firm. LRCA’s staff of numismatic auction industry veterans includes Julie Abrams, president; Greg Cohen, senior numismatist; and Jessica Berkman, consignment coordinator. The firm’s Regency Auctions serve as the official auction for the PCGS Members’ Shows, held 4-5 times per year; the firm also conducts monthly Premier Sessions auctions. Since its founding, LRCA has sold many important collections, resulting in world-record prices, including the Coronet Collection of Morgan Dollars (#1 all time PCGS set); the David Hall—Bob Simpson Collection of Liberty Head Eagles; the Sunnywood-Simpson Collection of Morgan Dollars; the Phil Flannagan Collection of Territorial Gold, Toned Dollars, and 1795 coins; duplicates from the Gerald Forsythe Collections of Buffalo Nickels and Mercury Dimes; the Bob Simpson Collection of Standard Silver Patterns; the Northern Lights Collection of Monster Toned Morgan Dollars; the Crow River Collections of Indian Head $10s and Peace Dollars; the P.F.M Collection (former #6 PCGS Set of Morgan Dollars with varieties); and the Oak Crest Collection of Carson City $5 gold. The firm also set the record for #2 highest APR in 2016 with the sale of Bob Simpson’s duplicate 1879 $20 “Quintuple Stella” which realized $1,880,000.
To consign to an upcoming auction, contact Julie Abrams (julie@legendauctions.com), Greg Cohen (greg@legendauctions.com), or Jessica Berkman (jessica@legendauctions.com).
Jun 26, 2018 | ICTA/NCBA, News
The landscape of online shopping changed with last week’s Supreme Court 5-4 decision in the South Dakota v. Wayfair case. The Court’s decision is that states can now require online retailers beyond their borders to collect sales-tax revenue from consumers.
While most news reports covering the decision refer to “internet sales” subject to states sales-tax, two important points are overlooked.
The first is that all remote (interstate) sales are subject to the decision, not just internet sales. For example, sales across state lines could be taxed whether originating from an internet transaction or initiated in any other form whatsoever and however communicated.
The second is that the Court’s opinion assumes that the consumer’s (buyer’s) residence dictates the point of collection.
The Court’s assumption as to point of collection means that a seller must find a way to deal with thousands of state and local sales-taxes instead of calculating a sale as if made in the seller’s state and local residence.
Therefore, unless Congress acts, numerous sales-taxes will become targets of state legislatures, not just internet sales. More importantly, sales-taxes can be applied to anything of any kind or character, hypothetically including accounting and/or legal advice, stocks and bonds, commodities like natural gas and products moved through pipelines—an endless list.
Many states have taxes on their books already that were struck down as violating interstate commerce. The Court places those laws back on the table.
In ICTA’s opinion, Congress must do something it seldom does. It must take a lead to avoid unforeseen consequences. Federal legislation is needed to “build a fence” around appropriate state laws affecting interstate commerce. We will be working toward that end.
ICTA will have much more detail and analysis at the World’s Fair of Money.
About ICTA
ICTA is a 501(c)(6) non-profit association that represents the rare-coin, currency, and precious-metals communities. ICTA is supported solely by dues and donations. To join and/or learn more about ICTA, please visit our website — ictaonline.org.
Jun 19, 2018 | News
The finest known Australian 1855 Sydney Mint gold Sovereign, made during the first year of that mint’s operations, was discovered during the last expedition to the fabled “Ship of Gold,” the SS Central America, that sank while sailing to New York City in 1857.
Now graded PCGS MS62+, it is one of 82 sunken treasure world gold coins representing 10 different countries retrieved in 2014, recently cataloged by the California Gold Marketing Group and now certified by Professional Coin Grading Service.
“The 1855 Sydney Sovereign is the equivalent of the U.S. 1854-S Half Eagle; both ‘S’ mints, both first year of striking. It’s an amazing discovery,” stated Dwight Manley, managing partner of the California Gold Marketing Group. He compared the rarity and historical significance of the recovered Australian coin to one of only four known surviving 1854 $5 denomination gold coins made during the San Francisco Mint’s first year.
The finest known 1855 Sydney Mint Australian Sovereign, now graded PCGS MS62+, was discovered recently among the coins recovered in 2014 from the SS Central America.
(Photo credit: Professional Coin Grading Service www.PCGS.com)
“An 1856 Sydney Mint Sovereign, now graded PCGS AU58 and even rarer than the 1855, also was found. Someone apparently traveled from Australia to the San Francisco area with the 1855 and 1856 gold coins,” Manley revealed.
“It is fascinating to think about how these coins got to San Francisco. Were they carried by an Aussie miner seeking his fortune during the California Gold Rush or acquired as winnings in a gold camp poker game? Those two coins were onboard when the SS Central America went down 161 years ago,” said Manley.
“The two Australian coins were found in the same area of the seabed more than 7,000 feet below the surface of the Atlantic Ocean off the coast of the Carolinas,” explained Bob Evans. He was the chief scientist on the 1980’s missions that first located and recovered a portion of the fabulous SS Central America treasure and then assisted with the 2014 recovery.
“Communication, commerce, and travel between California and Australia were fully developed during the 1850s, in spite of the 7,500-mile steamship voyage required. The Australian Gold Rush that started in 1851 attracted a diverse, multi-national throng, quickly changing the demographics of the former penal colony. Many among the international crowd of gold-seekers visited both Australia and California seeking their fortunes,” explained Evans.
The vast majority of the more than 3,000 gold coins recovered in 2014 were struck in the United States. But the retrieved world gold coins represent an interesting mix of Latin American and European coinage in addition to the two Australian gold pieces.
Here are the countries and the number of recovered coins from each: Australia (2 coins); Bolivia (1); Federal Republic of Central America (1); Costa Rica (3); France (20); Great Britain (41); Mexico (5 including 3 contemporary counterfeits), Netherlands (6); Peru (2); and Spain (1).
Among the other notable world coins recovered in 2014 and now cataloged are: Great Britain 1852 Queen Victoria Sovereign with Arabic 1, PCGS MS63+; Great Britain 1855 Queen Victoria Sovereign, PCGS MS62; and two Great Britain 1856 Queen Victoria Sovereigns, one graded PCGS MS62, the other PCGS MS61.
Among the 82 world gold coins recently cataloged from the 2014 recovery of sunken treasure from the SS Central America was this Great Britain 1852 Queen Victoria Sovereign with Arabic 1, now graded PCGS MS63+.
(Photo credit: Professional Coin Grading Service www.PCGS.com)
Also now certified are Costa Rica 1855 JB 1/2 Escudo, PCGS MS63; France 1854-A Napoleon III 5 Francs, PCGS MS61 and France 1855-A Napoleon III 20 Francs, PCGS MS61; Mexico 1852-Go 8 Escudos, PCGS MS61; Netherlands 1840 (u) King Willem I 10 Gulden, PCGS MS63+; and Spain King Ferdinand VII 1809-S Draped Bust 2 Escudos, PCGS AU50, the oldest-dated gold piece recovered from the famous ship.
“It’s kismet that one of the recovered coins from the SS Central America, an 1835 2 Escudos, was from the Central America Republic,” said Manley.
The Federal Republic of Central America was a sovereign state between 1823 and 1841 comprising at times part of what is now Costa Rica, El Salvador, Guatemala, Honduras, southern Mexico and Nicaragua.
Each of the PCGS-certified world coins now is encapsulated in specially-produced and labeled holders that contain a pinch of recovered SS Central America gold dust in a separate compartment. The insert label includes a statement of authenticity hand-signed by Evans.
In the coming weeks, additional highlights of the recently examined and certified treasure will be revealed. A complete inventory of U.S. and world coins and assayers’ ingots recovered in 2014 will be listed in an upcoming book, America’s Greatest Treasure Ship: The SS Central America, The Second Journey, by Q. David Bowers and Manley. It will be published by the California Gold Marketing Group later this year.
Why were there dozens of world coins on the ship? Bowers explained: “In San Francisco in 1857 all sorts of foreign gold coins were legal tender. Back then, the Australian Sovereigns and the other recovered gold coins were not of any particular notice or importance, but today they are numismatic treasures!”
The SS Central America was a 280-foot long, three-masted side-wheel steamship carrying tons of California gold that had been shipped from San Francisco to Panama when she sank in a September 1857 hurricane during a voyage from Aspinwall (now Colón), Panama to New York City. The loss of the gold cargo was a major factor in the economically devastating financial panic of 1857 in the United States.
The California Gold Marketing Group LLC of Brea, California acquired the 2014 treasure from Ira Owen Kane, Receiver for Recovery Limited Partnership and Columbus Exploration, LLC in a court-approved transaction in November 2017. In 1999, the group acquired all of the available treasure that was recovered in the 1980s.
Jun 19, 2018 | News
NGC has announced that American astronaut Clayton Anderson will individually autograph NGC certification labels. From 2007 to 2010, Anderson was a part of three Space Shuttle missions and two consecutive International Space Station expeditions.
Anderson first rocketed to space aboard Space Shuttle Atlantis on June 8, 2007, and he stayed for five months, with most of his time spent aboard the International Space Station as part of Expeditions 15 and 16. He is the only Nebraskan to have flown in space, with 167 days in space total and six spacewalks. Now 59 and retired from NASA, he is the author of three books, including “The Ordinary Spaceman: From Boyhood Dreams to Astronaut.”
NGC Clayton Anderson Authentic Hand-Signed Labels are the perfect complement to any space- or Americana-themed numismatic item, including the 1971–1978 Eisenhower Dollar series (whose reverse shows an eagle landing on the moon to celebrate America’s achievements in space); the 2004 Florida State Quarter (whose reverse shows a NASA space shuttle); the 1988-P Young Astronauts Shuttle and Flag Medal; and the American Silver, Gold and Platinum Eagles.
Read more >
Jun 14, 2018 | News
NGC has certified the late Eric P. Newman’s most cherished coin: the unique 1792 Washington President Gold Eagle that researchers believe was presented to George Washington and carried by him as a pocket piece.
Graded NGC XF 45★, the coin will be sold without reserve by Heritage Auctions on August 16, 2018, at the ANA World’s Fair of Money in Philadelphia. All of the net proceeds will be donated to charity.
“This is one of the most amazing treasures that I have examined in my nearly 40-year career,” said Mark Salzberg, NGC chairman and grading finalizer. “NGC is honored to have been selected to certify a coin with such remarkable history, provenance and appeal.”
Read more >
