More Pennies for Good

Anyone who has followed my writing knows that I am an advocate for keeping the Lincoln Cent and charities that use the cent as a basis for the good work they do. The power of the little copper-colored coin is underestimated and maligned for bogus reasons. The coin we colloquially (and incorrectly) call the penny deserves more respect.

Add Marcelo Bezos to the list of people who found the penny to be a worthy charitable endeavor. Bezos, the founder of the Penny Pyramid Project was inspired to break the world’s record for a pyramid made of cents by a family member’s ongoing fight with colorectal cancer. As Bezos writes, “My father in laws Dad has been battling this cancer for almost 12 years. In November of last year his health took a turn for the worst. I wanted to do something big to show this man that his strength, faith and will to live had touched many of those who had met him, including me.”

In turn, Bezos turned his project into an annual fundraising event in conjunction with students in his area.

The concept of building a pyramid from pennies is such a neat idea and the stop action video of the project is so cool, I thought my readers would be interested in watching:

If you watch this video, can someone please help me identify the background music?

Although his site and YouTube channel appears to be sporadically updated, I hope he is successful in furthering awareness to the necessity of screening and finding a cure for colorectal cancer.

Honoring His Accidency

In a ceremony at the Sherwood Forest Plantation home of John Tyler the US Mint released the Presidential Dollar honoring our tenth president. President Tyler was the first to ascend to the presidency from Vice President after the death of William Henry Harrison.

Since Sherwood Forest Plantation is the private home of Tyler descendants, there was no dollar exchange as there was in the past. Only those invited who are under 18 years old were given a single dollar coin.

Nicknamed “His Accidentcy” by his enemies, President Tyler found himself in office during a contentious time. Aside from his accidental presidency, Harrison was selected to run for president by the Whig Party over Henry Clay and Harrison chose Tyler, a former member of the Democrat-Republican party, as his running mate. Clay originally thought that he would be the ”power behind the throne” of the elderly Harrison, but that was thwarted with the younger Tyler becoming president.

Clay was never friendly with Tyler who adapted Democrat-Republican policies from congress. After wrestling with the Whig-controlled congress over banking issues that included the veto of banking measures, the cabinet Tyler inherited from Harrison quit and Tyler was expelled from the Whig Party. Amongst the policies Tyler adopted from the Democrat-Republicans was to oppose the formation of a central bank. This made the Whigs angry and had them suggest that the lack of a central bank lead to the Panic of 1873.

Tyler and the Whigs sparred for most of his presidency. But there were areas where the Tyler and Whigs agreed on policy. Tyler applied the Monroe Doctrine to the Kingdom of Hawaii and used it to begin what became the annexation of the island nation. Tyler normalized relationships with China by sending diplomatic missions and opening a consulate to maintain the relationship. And in 1842, Secretary of State Daniel Webster negotiated the Webster-Ashburton Treaty with Great Britain that set the borders between the United States and Canada.

Tyler risked war with Mexico by annexing the Republic of Texas into the United States. Texas declared its independence from Mexico in 1836. Tyler, who was looking to show his strength in order to be re-elected, sent newly appointed Secretary of State John C. Calhoun to negotiate the annexation. Tyler was convinced that if the United States was able to annex Texas that he would win the support of the Democrat-Republican Party. Texas was annexed but the Democrats became upset and went on to nominate James K. Polk as their presidential candidate.

To run for reelection, Tyler formed his own party from core officeholders in his administration. As an independent and incumbent, Tyler was not as popular as he thought. When the Whigs chose Henry Clay as their candidate, the race became a fierce contest between Tyler and Clay with Polk being ignored. When it looked like he would not win the election, Tyler withdrew and threw his support to Polk. Three days before the end of his term, Tyler singed the bill annexing Texas.

On March 3, 1845, Tyler’s last full day in office, congress overrode a revenue veto, making it the first time that any president’s veto was overridden.

John Tyler was the first president to have two First Ladies while in office. His first wife, Letita Tyler was the first First Lady to die while her husband was in office. Letita Tyler, already confined to a wheel chair by the time her husband became president, died in 1842.

Tyler met his second wife, Julia Gardiner in 1842. Gardiner’s father, David Gardiner, was killed when the steam frigate, U.S.S. Princeton died when a naval gun exploded on the ship while sailing on the Potomac River. Tyler comforted Julia, 30 years his junior, whose subsequent courtship ending with a wedding on June 26, 1844. It was the first time a president was married while in office.

The release of the Tyler Presidential Dollar also marks the first of the Presidential Dollar series where the honored president has a second generation descendant alive to witness the event. Harrison Tyler, who is 81 years old, is the grandson of President John Tyler. Harrison Tyler resides at the family’s Sherwood Forest Plantation in Charles City, Virginia.

Harrison Tyler was born in 1928 as the sixth child of Lyon Gardiner Tyler and the third child of Lyon’s second wife, Sue. Lyon Tyler, who lived 81 years, was 75 when Harrison was born. Lyon Tyler was the thirteenth child of President John Tyler and the fifth child of Julia Gardiner Tyler. John Tyler, who would father 16 children, was 63 years old when Lyon was born. Harrison Tyler was born 66 years after the death of his grandfather.

Harrison Tyler is an alumnus of the College of William & Mary, as was his grandfather. Harrison also holds a graduate degree from Virginia Tech University. Harrison is one of the founders of ChemTreat, Inc. a company that claims to be “the nation’s largest independent firm dedicated solely to industrial water treatment.”

Coin image courtesy of the US Mint.

I Was Not Splitting Rails at Union Station

During the last and very busy week, I planned and plotted to take a long lunch so that I can visit the US Mint kiosk at Union Station to purchase rolls of the new Formative Years, or Rail Splitter 2009 Lincoln Cents. I arranged to meet a friend who was not a collector who would buy six rolls, give them to me, and I would buy lunch.

When I arrived, there was a long line. My friend and I waited over a half-hour to purchase the rolls. The scene caught the attention of The Washington Post who filed a story about the sale.

After my friend and I purchased 12 rolls of the new Lincoln Cents, we had nice lunch at a restaurant in Union Station.

What I should have done is what the collector did in the Post’s story: taken the rolls to the post office to have them stamped and post marked. Apparently, there are collectors willing to pay a premium for rolls with proof of first day of issue.

All of the rolls sold at Union Station and on Friday at the Rayburn House Office Building were from the Philadelphia Mint. Maybe I can trade a roll with someone who has rolls from the Denver Mint. I promised one roll to someone who could not be at the pickup and one roll will be used at my coin club for sale of individual coins to members. The other nine rolls will probably go on sale so I can make back the money I paid for lunch!

Here's Andy and Ron, Not George

In the more than three years I have been writing this blog, I keep finding interesting things to write about. The problem is finding the time to write about what I find or my thoughts. But sometimes, I find something that I thought was going to give me one story but turns into something else. Let me explain...

The other day, I went to my bank’s ATM to withdraw money. As I was counting the notes the machine delivered to me, I noticed one was stamped with something. Since I was in the car, I put the note in my pocket to look at it at home. I was thinking that the last time I saw a stamp on a note, it was for the “Where’s George” website.

Where’s George is a web-based project to track the circulation of US paper money. The project was started by tracking the movement of one dollar notes and expanded to other bills. People are prompted to visit the website when they receive bill stamped with the information. Website visitors are asked to enter some basic information (denomination, serial number, series, and location) to the where your note has been and to register its current location. When I find a well circulated note with the Where’s George, it is interesting to follow the note’s trail. Registered users can track the progress of the notes they enter.

For our friends north of the border, you can visit Where’s Willy. “Willy” is Sir Wilfrid Laurier, the first French Canadian Prime Minister (1896-1911). Sir Laurier’s portrait is on the Canadian $5 bill.

After the ten minute drive home, I looked at the note and found something unexpected. It was a stamp campaigning for Ron Paul for president along with his campaign’s web address. Dr. Paul, a Republican from the 14th District of Texas, unsuccessfully ran for the GOP nomination in 2008.

Dr. Paul is a fascinating person who has a unique approach to governance. While I may not agree with his political philosophy, I respect that he does not make emotional decisions and goes out of his way to educate himself on the issues. Dr. Paul is one of the few members of congress I respect for really trying to govern with integrity.

So if you find this $20 bill in change, follow its path after I spend it sometime this weekend. It has been entered into the database at www.wheresgeorge.com. Who knows, maybe it can find its way to Texas!

BEP's Spider Press Demonstration

If you have never been to a show where the US Bureau of Engraving and Printing shows off their “1 Billion Dollar Exhibit,” you may not have seen the demonstration of intaglio printing with on a spider press that dates from the Lincoln Administration.

The following video appears to be from the 2005 World’s Fair of Money held in San Francisco. It shows BEP specialist Mike Beck demonstrating the intaglio printing process while printing show souvenirs.

I first saw Mike Beck’s demonstration in 2007. He is very engaging and has a wonderful sense of humor. He is also very knowledgeable of the entire currency production process and the differences between the old and current processes. If you have a chance see Mr. Beck and the BEP exhibit, I encourage you to visit. It is worth your time.

NFB Promotes the 2009 Braille Commemorative

One thing I like about numismatics is that coins, currency, tokens, and other ephemera can be used to teach history. Along with teaching history, they can be used to raise money for worthy causes. One such coin is the 2009 Louis Braille Bicentennial Silver Dollar, the first coin with readable braille. The $10 surcharge, up to a maximum of $4 million will be paid to the National Foundation for the Blind to promote braille literacy.

In order to understand where your money will go, NFB produced a video titled Change with a Dollar to explain their Braille literacy initiative and how the money raised from the sales of the Braille Commemorative will help their cause. I thought my readers would be interested in this video:

NFB also produced a one minute commercial titled I Can Do More: Louis Braille Bicentennial Silver Dollar which can be seen...

Both proof and uncirculated coins are available from the US Mint if you want to help NFB’s effort to promote Braille literacy.

Update on 2010 Lincoln Reverse Design

I learned that the 2010 Lincoln Cent reverse design chosen by the Commission of Fine Arts has been withdrawn from consideration. Apparently, the design closely resembles the one used on the Weimar Republic of Germany 50 pfennig coin. This coin features the motto of the Weimer Republic “Sich regen bringt Segen”, meaning “hard work brings it’s own reward.”

Similar designs were used throughout the Soviet bloc countries during the Cold War era.

Aside from being US Mint policy not to use desings that have appeared on foreign coins, the imagry of using socialist and communist symbols of the past makes the design a bad idea.

I have learned that the Citizens Coinage Advisory Committee selected the shield design LP-13 (see the image). The design entitled “Shield of Union” resembles the pattern cent designed by William Barber. However, the CCAC did express their concern that the designs submitted were not as good as they could be.

Next month, the CCAC will look at new designs for the obverse of the 2010 Lincoln Cent. While I am not in favor of changing the Victor David Brenner design, I learned that the CCAC will be looking at keeping the portrait but making it larger on the planchet. Hopefully that is the only design change they make.

Image courtesy of CoinNetwork.com.

Where Are the 2009 Coins

After finding out that the US Mint will stop producing certain coins, I went to several banks Friday afternoon and Saturday morning looking for rolls of 2009 coins. Aside from my bank, I went to several banks where I have been able to easily find rolls of dollar coins.

A few banks allowed me to look through their rolls, without opening then of course. Tellers brought boxes of coins from the “back room” they received from their supplier. I searched the rolls, limiting my examination to shotgun rolls, looking at the ends for 2009 coins.

While searching the rolls standing in the banks, I did not find a shotgun roll with identifiable 2009 coins. In fact, I did not find a roll with uncirculated cents. Few had rolls of Presidential Dollars but no 2008 Martin Van Buren dollars, which I continue to have a difficult time finding.

I took a chance with four dime and two nickel rolls that showed the reverse on both ends of the shotgun rolls. After I searched the rolls, I found $44 worth of mostly 2007 and 2008 coins.

I have yet to see circulating 2009 coins. The DC Quarter and William Henry Harrison Dollar I have came from the change machines at the US Mint Headquarter.

As I noted in my last post, 2009 could produce the fewest coins since the early 1950s. I wonder what the premium will be in 5-10 years when (hopefully) the economy improves?

Mint Lowers Coin Production and Creates Modern Rarities

It is being reported that the US Mint will cease production of nickels and dimes for six months because of the reduced demand from the Federal Reserve. Production of other coins with changing designs, such as the Bicentennial Lincoln Cent, DC & Territories Quarters, and Presidential Dollars, will continue production pending further review.

Workers at the US Mint will participate in a six-month productivity maintenance program and capital maintenance in order to keep the rank-and-file workers employed. The US Mint has imposed a bureau-wide hiring freeze.

This announcement effects both the Philadelphia and Denver facilities.

As of the end of April, 2009, the US Mint produced 79.2 million nickels and 146 million dimes. In 2008, the US Mint produced 640.56 million nickels and 1050.50 million dimes. If no more coins are produced for the rest of the year, it would mean an average if 87-percent reduction in nickel and dime production. Not including proof and other special production coins, the last time the US Mint produced few nickels all mints in a single year was the 56.7 million nickels in 1951 (28.5 million from Philadelphia, 20.4 million from Denver, 7.76 million from San Francisco).

For dimes, we have to go back to the 44.9 million produced in 1955 (12.45 million from Philadelphia, 13.96 million from Denver, and 18.51 million from San Francisco).

Numismatically, it could make these coins modern rarities. Then again, coins from the 1950s have not significantly increased in prices, with the exception of very high grade and full detail coins. While I may put away a few of these coins, I am not going to hold out hope of buying my dream home with them. We may be long passed before these coins show significant price increases.

US Mint Website Is Having Problems

While trying to look up mintage totals at the US Mint website, I continually receive the message that an internal error occurred along with a more detailed statement that I will not repeat here.

I have not tried to contact the US Mint about this because it is the end of the business day. Thus, I do not know if this will be corrected before the weekend.

Those of us who understand the message returned by the web server software has been given a tremendous amount of intelligence about the US Mint’s website. While I will not discuss what the message means, I will say that I am distressed that the US Mint did not perform proper due diligence on their website as they are required by the Federal Information Security Management Act (FISMA).