A Readable Commemorative

In a ceremony earlier today at the National Foundation for the Blind headquarters in Baltimore, US Mint Director Ed Moy and NFB President Marc Maurer introduced the nation’s first coin with readable braille. the 2009 Louis Braille Bicentennial Silver Dollar.

“For the first time in history, the United States has a coin with readable Braille,” Director Moy told the audience. “The 2009 Louis Braille Bicentennial Silver Dollar honors the developer of Braille, a tactile code that has been instrumental in the literacy and independence of the world’s blind people.”

Authorized by Public Law 109-247 (GPO: [Text] [PDF]), the Mint is limited to issuing 400,000 coins. The $10 surcharge, a maximum of $4 million, will be paid to the NFB to promote braille literacy. The NFB reports that the money will be used in its Jernigan Institute and Braille Literacy Campaign to double the number of school-age children reading braille by 2015.

According the the NFB:

An astounding 90 percent of blind people today are Braille illiterate. This would be viewed as a national outrage if the same crisis faced sighted individuals, and yet blind people continue to be deprived of the Braille education and resources they need to obtain jobs, pursue stimulating careers, and enjoy the same opportunities as sighted individuals. Further, Braille illiteracy is the leading contributor to a shocking 70 percent unemployment rate among 1.3 million blind Americans and it’s only going to get worse—70,000 people are losing their sight each year.

To help fund Braille literacy programs, the NFB has teamed with the U.S. Mint to issue the first coin ever to feature readable Braille. The Louis Braille Bicentennial Silver Dollar will be launched this Thursday, March 26, 2009 at the NFB’s headquarters in Baltimore, MD, after which the coin will be available for purchase.... Every coin sold will support Braille education nationwide and ensure that every blind American enjoys the same opportunities for success as sighted individuals.

The National Federation of the Blind is also publishing a report to the nation, titled “THE BRAILLE LITERACY CRISIS IN AMERICA: Facing the Truth, Reversing the Trend, Empowering the Blind.” The report, a comprehensive overview of the crisis and proposed solutions to reverse it, is currently under embargo until the launch day on March 26, when it will be posted online at www.nfb.org and www.braille.org.

I believe in supporting a good cause. If support also comes with a cool collectible, then it makes sense to buy. I hope this commemorative sells out!

A New Gold Rush

With the price of gold rising and the economy falling, there is a new gold rush. Reports from California said that panning for gold is becoming popular for people looking to make money.

The story from KTLA in Los Angeles says geologist estimates that only 20-percent of the gold was found during the 1849 gold rush. Today, the new gold rush is occurring within an hour of downtown Los Angeles. This is the story from KTLA:

Could there be gold in other places? Before the 1849 California Gold rush, the news of the Carolina Gold Rush followed the 1799 discovery of gold by Conrad Reed outside of Charlotte in Cabarrus County, North Carolina. In 1829, gold was discovered in Lumpkin County, Georgia near Dahlonaga. By 1837, Congress authorized the building of the Charlotte and Dahlonaga Branch Mints for the minting of gold coins.

But these areas are not open to general exploration. The Reed Gold Mine is a State Historic Site with restrictions on where visitors can explore. In Dahlonega, Consolidated Gold Mines, Inc. own the area of the Georgia gold discovery. Panning and searching for gold in those areas are limited to their pre-determined “experience.”

During my teen years growing up in Charlotte, there were rumors of gold under the buildings of downtown Charlotte. It was said that the small amount of gold under the streets and the effort it would take to get to it through the hard clay soil made it economically infeasible. Could the economics have changed enough to try to mine under the streets of Charlotte?

Are there other areas where gold may be found? Gold was found in southeast Alaska in 1872, near Juneau in 1880, and the Klondike Gold Rush in 1898. Could Alaska be another place for modern day gold prospectors?

Could there be an undiscovered area prime for a modern day gold rush?

Own Your Own Spy Coin

In January, 2007, there was a story about Department of Defense contractors inadvertently carrying a hollowed out Canadian dollar that contained Radio Frequency Identification (RFID) transmitters that could be used to track their movement. Allegedly, the coin was given to them in change by a third party. Later, Defense Security Services (DSS) issued a press release stating that the story was not true.

I thought it would be fun to find a spy coin and see what could be done with it.

Earlier on Monday, a friend sent a link to Think Geek, an online merchant that sells technology-related items specifically to the technologist market. While looking through the items I found a listing for Hollow Spy Coins. The coins are hollowed out quarters or half-dollars with enough room for a very small memory card. The coins are advertised to come with an unlocking ring and are “indistinguishable from regular coins when closed.”

Think Geek is selling the spy quarter for $20.99 and the half-dollar for $24.99.

If these coin are indistinguishable from regular coins, I would be afraid to carry the quarter for fear of accidentally spending it. But keeping the half-dollar as a pocket piece with some “secret” inside could be fun. I might buy one!

Image courtesy of ThinkGeek.com.

Meet Her At the Money Museum

A while ago, I heard from Donna Guthrie, teacher and children’s book author, who created a new website called Meet Me At the Corner. Meet Me At the Corner hosts kid-friendly videos about many topics of interest to kids. Kids are encouraged to produce a video about a topic of interest and submit them for the world to see. For those who need assistance, there is a video to explain how to make videos.

Donna wrote to me around Presidents Day to alert me about the new video about one kid’s visit to the Edward C. Rochette Money Museum located at the American Numismatic Association headquarters in Colorado Springs.

The video by Amanda tours the museum with and interviews ANA educator Rod Gillis. Amanda asks about coins, collecting, and the new Lincoln Cent issues. Amongst the tour during the video, Amanda is shown the two examples of the 1913 Liberty Head Nickel the ANA holds. Rod tells Amanda that one of the five known coins was sold last year for $4 million. Amanda does a great interview and probably does better than most adults!

Go to the site and watch the video. It is worth the time. When you are done, pass it along to a young numismatist for their enjoyment.

Take That 50,000 Times

I had to share this before retiring for the evening since it’s marginally coin-related. We’ve seen these stories before and they are just as amusing each time. A Romanian man was angry after being fined 500 lei for allegedly employing children to tend his goats. Angelo Rujinaru, 39, objected to the fine saying that a neighbor’s child was playing with his goats. Rujinaru said that the police refused his right under the law to pay half of the fine within 48 hours, which lead to his protest: Rujinaru paid his 500 lei fine with 50,000 one ban coins (100 ban is equal to one lei).

Rujinaru carried his coins in a backpack and two buckets to the community cashier, who is required to accept the coins in payment for the fine. Because Romanian law requires cash payments to be counted by hand, the clerk and two colleagues were able to count 15,000 coins. Rujinaru was quoted saying, “I’m sorry for the cashier lady, but this is my way to protest this unjust act. If they count one penny per second, they should be done in about two days.”

Here is how it was reported on MSNBC:

Visit msnbc.com for Breaking News, World News, and News about the Economy

I am sure he is now the talk of the town... and maybe the police, as well!

ICG Moves to Florida, Does it Matter?

In case you had not noticed, and judging by the numismatic press you probably have not, the Independent Coin Grading Company (ICG) moved from Englewood, Colorado to Tampa, Florida on December 8, 2008. I found this out when I visited the ICG web page while checking the links in my last post.

Does it matter?

Since the take over of ANACS by principals at ICG, the swapping of personnel, the difficult move of ANACS to within a few miles of ICG’s headquarters, and the turmoil that resulted, there has been little good news out of either of these services. Other than bloggers and numismatic forum users have decried the rush of ANACS holders on the late night shopping networks, there has been little news out of Englewood.

But does it matter?

In my experience selling coins on online auction sites or to dealers, coins in ICG and ANACS holders are not being taken as seriously as in NGC or PCGS holder. If you do not mind the ICG or ANACS holders, I have a few coins for sale that may be of interest. These coins were graded by ICG and ANACS before the turmoil.

Yea, but does it really matter?

Over the last year, we have seen the rise of the Dominion Grading Service as a credible service. DGS was born out of the ashes out of PCI after its assets were purchased by David Lawrence Rare Coins. As I noted last year, DGS seems to be making progress in quality and acceptability. While DGS may not be thought of as a top tier service because of their lack of longevity in the market, coins in their holders appear to be selling well.

You have not answered my question, does it matter?

In the market of third party grading services, it seems to be a two horse race with PCGS and NGC fighting to expand into more markets and improve encapsulation of modern coins as the supply of rare coins not slabbed may be dwindling. Even with the emergence of Certified Acceptance Corporation as a fourth-party verification service that verifies coins graded only by PCGS and NGC, one can wonder if there is a market for more grading services. Although DGS is making strides to acceptance, it is almost as if they are 20 furlongs behind heading in the clubhouse turn.

Why are you avoiding the question?

I am avoiding the question because there is no good answer. On one hand, competition is good. Competition works to the benefit of the collector who only wants value and accuracy in these services. On the other hand, ANACS and ICG appears to have damaged their reputation to the point of having the market mistrust their holder. In a market where trust in the accuracy and integrity of the service is a key value, ANACS and ICG appears to have done little in repairing their images after the turmoil that began at the end of 2007.

There are a number of books and magazine articles that recommend those new to the coin market to look for PCGS and NCG encapsulated coins, boosting the reputation of these grading services. As these collectors get used to buying PCGS and NGC graded coins and listen while more experience collectors remind them to “stay with the best.” This has caused coins in these other holders to lose value, even though they may grade the same as if they were in PCGS or NGC holder.

It is difficult to surf past the home shopping cable channels and see what appears to be over graded, modern coins in “special” ANACS holders and continue to take ANACS seriously. Although the capitalist side of me says that ANACS has the right to try to make money, the numismatist side of me wonders at what cost? Unfortunately, this is hurting the reputation of ICG because of the concept of “guilt by association,” or in this case, guilt through diassociation.

The survival of ICG and ANACS should matter to the numismatic community. Over the years, both services have proven resilient and have had good successes. But it is difficult to acknowledge their current place in the market when they are not doing much to distinguish themselves and repair their damaged images.

Baltimore Show Next Week

This week I received a postcard in the mail announcing that the Whitman Baltimore Coin and Collectibles Expo will be held at the Baltimore Convention Center, March 26-28. The card announces that the official auction will be conducted by Bowers and Merena Auctions as well as on-site grading services by DGS, ICG, NCG, and PCGS.

The Bureau of Engraving and Printing will be at the show with its Billion Dollar Exhibit and the antique Spider Press. BEP will be selling the second print in the Lincoln Bicentennial Intaglio Print Series. If the past is any indication, BEP will be selling special versions of the print that was printed at the show on the Spider Press. The limited edition will be noted on the print and sold by daily lottery. You will have to be present to win.

In addition to the coins and currency will be able to Meet Mr. Lincoln presented by Lincoln re-enactor, Dennis Boggs. Boggs presents “presents an enlightening, informative, and educational look at the life of the 16th President as it might have been told by Abraham Lincoln himself.” Souvenir photos with Mr. Lincoln will be taken.

I will be there on Saturday. I will enter my thoughts via Twitter and can be read on this page or through my Twitter timeline.

ANA Raises and Lowers Dues

Tonight, I received an email letter from the American Numismatic Association announcing a new dues structure. The new fee structure will introduce a Basic membership tier that will include online-only delivery of The Numismatist for $28 per year—a reduction of $8 from the current membership fee. The Regular membership tier will be $46 per year, an increase of $10, will include having The Numismatist mailed. According to the ANA, “Members in both tiers will otherwise receive the same ANA benefits including the privilege of submitting coins and paper money directly for grading and conservation services to Numismatic Guaranty Corp., Paper Money Guaranty and Numismatic Conservation Services and full use of the Dwight N. Manley Numismatic Library.”

In addition to the membership changes, non-members will be charged for admission to the Edward C. Rochette Money Museum and Dwight N. Manley Library at the ANA Headquarters in Colorado Springs as well as admission fees to attend both the National Money Show and the World’s Fair of Money. Members will continue to receive free admission.

The following is the new dues structure included in the note:

Basic Membership with online version of The Numismatist only

	1 Year	2 Year	3 year	5 year
Basic Regular	$28	$53	$78	$128
Basic Junior (17 and younger)	$14	$26	$39	$64
Associate	$14	$26	$39	$64

Regular Membership with The Numismatist delivered to your door

	1 Year	2 Year	3 year
Regular	$46	$88	$130
Senior (65 and older)	$41	$78	$115
Junior (17 and younger)	$26	$50	$74

Life Membership (Option for Basic or Regular)

	Under 55	55 & Over
Basic (Online version of The Numismatist)	$800	$600
Regular (The Numismatist delivered to your door)	$1,200	$900
Club (Regular option only)	$1,750	*25 years

Club Membership (Regular option only)

1 Year	2 Year	3 year	5 year
$75	$145	$215	$355

Add $36 a year for magazine delivery outside the U.S

The new fee structure begins on April 1 for non-members and June 1 for members. No information was provided for those of us who prepaid through this year and beyond.

Collecting History

A friend sent an email note reminding me that today (March 16) is the 258th anniversary of James Madison’s birth and the 207th Anniversary of the founding of the United States Military Academy at West Point.

Madison, our 4th President, was the Commander-in-Chief during the War of 1812 and the victory over the British. He was a major contributor to the Federalist Papers and the framer of the Bill of Rights. Numismatically, the Madison Dollar was the last of the Presidential dollars issued in 2007.

The United State Military Academy is the oldest of the service academies. West Point is considered the premier school of its type worldwide and its graduates includes war heroes, former presidents, and a famous college basketball coach. In 2002, the US Mint issued the West Point Bicentennial Dollar to commemorate 200 years of training our nation’s best.

I mention this note because the friend who sent the note has a unique perspective on coin collection. He has taken the phrase “history in your hand” to heart and has built his collection around history represented by the coins. Rather than purchase albums to collect series of coins, he has three-ring binders with pages to present his collection in date order of significance.

Using 12 three-inch binders, date numbered tabs, and various mylar pages, he insert his collection into the area where there is the most significance. For example, he collected the 50 State Quarter coin covers and inserted them on the date corresponding to when the state was admitted into the union. His Presidential Dollar coin covers are stored based on the birth date of the president. In this system, March 16 has the James Madison dollar coin cover and the West Point Bicentennial commemorative.

It sounds unwieldy, but my friend has done a great job creating a collection that he uses to teach his children and their friends the significance of history and coinage. I will try to post pictures if he gives me permission.

The moral of this story is that there is no right way to collect coins. Collect what you like and how you like. If you slowed your collecting activities because of the economy, maybe you can come up with a new idea as to how to organize your collection.

Images courtesy of the US Mint.

Still Not Finding 2009

I went to my bank and branches of three other banks to look for rolls of Martin Van Buren dollars and Lincoln Birth and Early Childhood cents. I know that the William Henry Harrison dollars are the current issue, but I was not able to find Van Buren dollars when they were in active release.

One bank I went to had just emptied the cent bags from its coin counting machine. The teller showed me the three bags of cents that will be sent to their contractor to be counted and sent back to the Federal Reserve. They did have Harrison Dollars and some John Quincy Adams dollars, but no Van Burens. A teller in another bank showed me a box of cent rolls they just received from the Federal Reserve. All the rolls had mixed coins, no new cents.

I also asked for District of Columbia quarters. Only one bank had a roll.

I have heard that Lincoln cents have started to be found in pocket change west of the Rockies and DC Quarters in the northern midwest states. But friends living throughout the Northeast Corridor have not found any of these coins in change.

Last year, I found my first 2008 coin in mid-June. Other than the special distribution of dollars and quarters, I don’t expect to see 2009 coins until June or July.

A Lesson for Three Dollars

After work, I decided to stop at a local coffee shop for a beverage. As I ordered my libation and noticed a $2 bill in the tip jar. The numismatist in me became excited. I reached in to take the note and replaced it with three William Henry Harrison dollars.

The barista watched carefully and noticed the gold-colored coins. She looked at me and asked why I was taking her money and leaving tokens. I pulled one out of the jar and showed her that it was a $1 coin. Apparently, it was the first time she had seen the dollar coin.

I told her about the Presidential Dollar Program and how they were honoring four presidents each year. She seemed interested and looked at the coin and asked who William Henry Harrison was.

If nothing else, the Presidential Dollar Program helped educate one high school student today!

Ultra High WOW!

At our coin club meeting, our speaker brought in a 2009 Ultra High Relief gold coin. In hand, the coin is more impressive than pictures can show.

I tried to take pictures with the camera on my iPhone, but the room light was too low for a good picture.

The coin is presented in a capsul that should have been made better. Capsuls from the US Mint have “seams” on the top and bottom of the rim. Since the rim of this coin is an important design element, I would have thought that the Mint would have looked to use a cleaner design. But the edge lettering is readable through the capsul and a nice element to the coin.

Augustus Saint-Gauden’s Liberty design seems to almost come to life on the coin. It is almost as if Miss Liberty is walking off the coin. The brightness of the coin leaves a great impression.

The eagle on the revese appears as if it is flying swiftly over the coin with a rising Sun in the background. The yellow of the gold is so appropriate for the image that I could not imagine this image being struck in any other metal. Whomever engraved the coin did a good job preventing the motto from detracting from the coin’s look.

The coin is presented in a felt-lined wood box that screems there is something special inside. That box was placed inside a protective box. Both the protective box and Certificate of Authenticity was placed in an outer box. It gives the coin a regal treatment that is well deserved.

Regardless of what you think of the Mint’s recent performance issues, they did a wonderful job with this coin and packaging!

Recently, it has been reported that several of these coins were graded MS-70 by the top two grading services. This does not surprise me given the information as part of the exhibit that was at last year’s Worlds Fair of Money in Baltimore. One thing that was said was the presses were run manually and struck twice with 65 metric tons of force. It was also said that they were going to limit the number of coins struck per die set. Thus, unless the dies are worn, this coin should never grade below MS-69.

I find it interesting that people are removing the coin from the wonderful presentation to have it placed in a cold-looking slab. Compared with the design of the packaging, the slab cannot do this coin justice, regardless of its grade. I think it will detract from the coin’s beauty and the impact the packaging is designed to provide. If I can afford one of these coins (and I am going to try), it will stay in its orginal US Mint packaging.

Awarded Numismatically

I had written about NBC Nightly News anchor Brian Williams and his collection of challenge coins. In short, challenge coins are medals that bears an organization’s logo or emblem that are carried by the members and given to outsiders as an honor. When a member draws his or her challenge coin and slaps it on the table, others must produce their challenge coin or buy a round of drinks for the group. It is very popular in the military.

The company I work for has an excellent relationship with the military and other federal agencies. Aside from our business, we have many employees and board members who are retired military officers. What makes us different from an ordinary Beltway bandit firm is that the company is a non-profit that runs three (soon to be four) Federally Funded Research and Development Centers (FFRDC). In short, an FFRDC “is a unique organization that assists the United States government with scientific research and analysis, development and acquisition, and/or systems engineering and integration. FFRDCs address long-term problems of considerable complexity, analyze technical questions with a high degree of objectivity, and provide creative and cost-effective solutions to government problems.” Our non-profit status gives us the freedom to make the right decisions without conflicts of interests getting in the way.

There is a tradition similar to challenge coins in my company. When a large project successfully ends, project members are awarded with a medal representing the project. Medals are either mounted on a plaque or framed in a coaster form. While most people do not use it as a coaster I was told that there was a time that team members would use the coasters during the celebration of their accomplishment.

I have seen a few project medals given to co-workers. Most of these co-workers have been employed by the company longer than I have and were given the medals for projects that ended before I started working for the company. Many have more than one. Although I had worked on a few large projects I never received one... until now!

As I was leaving early on Friday a co-worker stopped me at my office door. She told me the project director was giving this to all team members handed me my first project medal. After not seeing one awarded in nearly eight years, I was very surprised. I stammered out a thank you and stopped to look at the medal.

Within the wood coaster is a 38 millimeter bronze medal that has the name of the company and the agency that benefited from our work around the outer edge. The inner ring has the initials of the centers that had members participating in the project. In the middle is the logo of the government agency.

It is very satisfying to be a member of a significant, successful project. It is also great that one of the rewards is numismatically satisfying!

This Week In Pocket Change

At the end of the day, I empty the change from my pockets and put it on top of my dresser. Every Saturday, I search through that change to see if there was anything interesting. This week there seem to be quite a few fun finds:

• Bicentennial Quarter
• 1946 Jefferson Nickel
• 1945 & 1952 Lincoln Wheat Back Cents
• 1978 Canadian Quarter
• 1979 Canadian Cent

While none of the coins are worth much, it is still fun to find different coins in pocket change. They will go into my found coins bank with the others that I have found.

Looking back, I never showed off my found coins bank. It was from a gift by my wife (then girl friend). The bank is a solid oak box with the door of an old post office box on the front. The box was made by R.P. & Company who purchased the doors from the Postal Service, refurbished them, and made them into banks. My bank is their Flying Eagle brass model, circa 1906. The bank has a few wheat cents, older nickels, Bicentennial quarters, a few foreign coins, and a $2 bill I received in change a few years ago.

I wonder if anyone else even keeps their found coins or has a “found coins bank.” Let me know.

I Know... The US Mint is Broken

I received a few notes from readers asking why I have not commented on the US Mint’s recent failures. I have a feeling that they were prompted to ask after reading this post at the Mint News Blog and Susan Headley’s story about the Mint’s computer issues. The short answer is that I have said all I can say about the Mint.

After writing about the Mint’s pricing policy with the Ultra High Relief Double Eagles, a commenter criticized me for not having respect for the Mint employees. It prompted me to write about who I thought was the blame at the Mint.

Almost two weeks later, the Mint changes its return policy giving bogus reasons for not managing this situation correctly.

If Andy Brunhardt was hired to “fix” the operations of the US Mint, his performance has been much less than stellar and seems to be getting worse. I am just tired of harping on it.

Rather than comment here, I have written to my members of congress, Office of the Inspector General for the Department of the Treasury, and staff of the President of the United States. Hopefully, between those five people I hope to see progress.

Founded 220 Year Ago

On March 4, 1789, the first congress convened under the new Constitution of the United States of America. Congress met at Federal Hall in New York City, the temporary capital until Washington, DC was built. Because March 4 was the first day of the constitutional government, it was the day that the president would be sworn in. This would last until the passage of the 20th Amendment of the Constitution in 1933.

The formation and seating of congress predates the presidency. After meeting on March 4, committees were formed to create an infrastructure for the legislative branch, which was then debated on April 1, 1789, when congress had its first quorum. One of its first orders of business was to form the Electoral College that voted George Washington as the first President of the United States. Washington, who did not accept a salary, was the only president to be unanimously elected by the Electoral College for both of his terms.

Washington appointed a cabinet and selected Alexander Hamilton as the first Secretary of the Treasury. In addition to setting up an economic system for the new country, Hamilton wrote a report to congress recommending a monetary system and a mint to strike coins in 1791. Congress did not pass the first Coinage Act until April 2, 1792.

As collectors, we can thank and curse congress over the politics of coin making in the United Sates. But without them, we would have nothing to collect!

Coin images courtesy of the US Mint.

Mint To Offer Lincoln Cent Rolls

I went to the US Mint’s online catalog to see when the Puerto Rico quarters and District of Columbia Quarter first day covers would be released. While scanning down the list of Scheduled Product releases I noticed that the Mint will be releasing a roll set for the Lincoln Cent Birthplace coins. These rolls are scheduled to be released on March 13.

Also in the list are roll sets for the Formative Years, Life in Illinois, and Presidency coins.

With the backlog of cents in the Federal Reserve System preventing these coins from circulating, this is a good idea. It will allow collectors easier access to the coins.

But what of the costs? Rolls of other coins wrapped in US Mint paper are sold with a premium. Rolls of dollar coins in the Mint wrapper with a $25 face value are sold for $35.95. Kennedy Half dollar and State Quarter rolls contain $20 worth of coins (2 rolls) sells for $32.95. How much of a premium will the Mint add to rolls worth 50-cents each?

Would it be possible that the Mint will also sell these coin as part of their Direct Ship program? Under the direct shipment program, the Mint sells 10 rolls of Presidential Dollar coins at face value ($250) in commercially wrapped paper with free shipping. It may not be cost effective for the Mint to do with with $5 worth of Lincoln Cents, but it is an option for them to think about even if they do charge for the shipping.

I may order these rolls, depending on the pricing. It may be easier than waiting for the banks to get these coins.