tag:blogger.com,1999:blog-4202633289343552512024-02-19T14:39:03.413-08:00Peter Planchetcoins with an edgeUnknownnoreply@blogger.comBlogger69125tag:blogger.com,1999:blog-420263328934355251.post-69594813264173953112015-11-15T18:16:00.001-08:002015-11-15T18:16:14.830-08:00Hey NFL -- That's not a real coin you're tossing<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi2MKte1aLMh_w_D6I30oiB8xcdy2jLFzccy52CFFF0SxSpOyYehG2MkeAmJwWxeNj3BTRwZ8SHHM4NOAJOmfEmNkuMs9ATktXNjyCvXTZVLB4oAkoZLZ-LvPZZMY3o1G5aknHTCguK2sQ/s1600/Coin_toss_at_Super_Bowl_43_1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi2MKte1aLMh_w_D6I30oiB8xcdy2jLFzccy52CFFF0SxSpOyYehG2MkeAmJwWxeNj3BTRwZ8SHHM4NOAJOmfEmNkuMs9ATktXNjyCvXTZVLB4oAkoZLZ-LvPZZMY3o1G5aknHTCguK2sQ/s320/Coin_toss_at_Super_Bowl_43_1.jpg" width="214" /></a></div>
The National Football League begins every game with what they call "the coin toss."<br />
<br />
If the NFL wants to have a coin toss, the least they can do is use a real coin. What they are actually tossing is a medal. A coin should be issued by a country and have a denomination. This is not what they are tossing. It has a helmet on one side and the Vince Lombardi Trophy on the other. Sorry, but no country has ever issued such a coin. I suggest that the NFL start calling this a medal toss.<br />
<br />
Another point -- why start a football game with a random event? Until recently the NFL team winning the toss would elect to receive the football. Now the winners mostly "defer" the decision to the second half. <br />
<br />
Instead of showcasing skills in running, passing, and kicking, we watch predictions of heads vs. tails. This is boring. It would be easier to scrap the theatrics and have the home team kick off first.<br />
<br />
But if they want to continue with this silly event, they should at least get a real coin. <br />
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Does the lack of a real coin bother you? Please feel free to comment.<br />
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-420263328934355251.post-17779451885892123292015-07-25T19:44:00.000-07:002015-07-25T19:44:55.247-07:00The 2015 high relief gold coin: a critique<div class="MsoNormal">
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<o:p> The US mint is about to release a new high relief $100 gold coin.</o:p></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgC6diEkrgF5XTsfDU4bXEYi6x4BxdK3KBAVidFNUvgrM5Pqr-cqrR4vw5j0k1NqWpXHIrDNYNyNAI88XhEG3v8ttTS01_kG04ctDAu49BFnqpa-K-Ds7uBicD69Jio0QubtjRWgTVbSQ/s1600/uh8_a.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="280" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgC6diEkrgF5XTsfDU4bXEYi6x4BxdK3KBAVidFNUvgrM5Pqr-cqrR4vw5j0k1NqWpXHIrDNYNyNAI88XhEG3v8ttTS01_kG04ctDAu49BFnqpa-K-Ds7uBicD69Jio0QubtjRWgTVbSQ/s320/uh8_a.jpg" width="320" /></a></div>
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The obverse depicts a new-fangled liberty who looks like an
amateur anorexic model struggling to hold a pose.<span style="mso-spacerun: yes;"> </span>While I may worry that the B and E in liberty will catch
fire from her torch, the bigger problem is Liberty’s left arm.<span style="mso-spacerun: yes;"> </span>Why is it so big?<span style="mso-spacerun: yes;"> </span>Based on Liberty’s angle, her left arm
should be farther away than the right.<span style="mso-spacerun: yes;">
</span>But it appears larger.<span style="mso-spacerun: yes;">
</span>Why?<span style="mso-spacerun: yes;"> </span>It also doesn’t appear
that the upper arm would match up with the shoulder – instead it hangs too low. The headpiece looks like it is made of artichoke.</div>
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Moving on to the coin itself.<span style="mso-spacerun: yes;"> </span>We have another one ounce gold coin that is competing with
two others – the <a href="http://peterplanchet.com/saint_gaudens.html">Saint Gaudens American Eagle</a> and the <a href="http://peterplanchet.com/buffalogold.html">American Buffalo</a>.<span style="mso-spacerun: yes;"> </span>Do we need another?<span style="mso-spacerun: yes;"> </span>The denomination of the new coin will
be $100 – double that of the other one ounce gold coins?<span style="mso-spacerun: yes;"> </span>Why?<span style="mso-spacerun: yes;"> </span><a href="http://www.peterplanchet.com/">Dr. Planchet</a> cannot answer this.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-8ywUV2RVO9lv86KxanNRYITfhXi3bHvoCpG6lh2cTqfAn8LWp2n70Z8cKdZN1E0oWrYSffXQ6cNHQFbvSuWLGnf0e4QTYZFCHXJMpo-xMAP3QQVKO_zEAjVeGAytYo4WgYDZ_-pcnrY/s1600/uh8_b.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="280" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-8ywUV2RVO9lv86KxanNRYITfhXi3bHvoCpG6lh2cTqfAn8LWp2n70Z8cKdZN1E0oWrYSffXQ6cNHQFbvSuWLGnf0e4QTYZFCHXJMpo-xMAP3QQVKO_zEAjVeGAytYo4WgYDZ_-pcnrY/s320/uh8_b.jpg" width="320" /></a></div>
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What is the purpose of this coin?<span style="mso-spacerun: yes;"> </span>It doesn’t really commemorate anything.<span style="mso-spacerun: yes;"> </span>Will it be part of a series?<span style="mso-spacerun: yes;"> </span>If so, the nature of the series is
unclear.<span style="mso-spacerun: yes;"> </span>Will this fit into any
type of collection – or is it just an orphan oddity to be placed into a dresser
drawer?</div>
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Production is limited to 50,000 coins.<span style="mso-spacerun: yes;"> </span>Perhaps that is more than our society
needs.</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-420263328934355251.post-85233625157628412702015-07-09T22:05:00.002-07:002015-07-09T22:10:25.742-07:00Student pays parking ticket with "pennies." Is this legal?<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhSF2LKwKwxPYPAljAAWiAk_OUIFyUUD9sYZgTWR3_4_aP5jOv0kxFFxadD51y4kNrhASwR6Plt59rRNULF6SROSAsbxrNNFLfw-CgOMxlcWLFcfAo1UpL-Ab9qLzT9ETsTN40HHp8P5hA/s1600/lincoln-memorial-cent.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="160" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhSF2LKwKwxPYPAljAAWiAk_OUIFyUUD9sYZgTWR3_4_aP5jOv0kxFFxadD51y4kNrhASwR6Plt59rRNULF6SROSAsbxrNNFLfw-CgOMxlcWLFcfAo1UpL-Ab9qLzT9ETsTN40HHp8P5hA/s320/lincoln-memorial-cent.jpg" width="320" /></a></div>
A University of North Carolina Student has paid a $110 parking fine with 11,000 Lincoln Cents (The media refers to these as "pennies -- but that's another issue).<br />
<br />
While coinage was designed to be convenient, on occasion, one can deliberately pay using inconvenient denominations as a form of protest.<br />
<br />
Frequently college campuses are built with an inadequate amount of parking. My grandfather, John Houck Planchet served on the student government at University of Pennsylvania in the 1930's. He told me the biggest campus problem was where to park the cars. Rather than providing adequate parking for everyone (which, granted, could be an expensive proposition), campuses and local governments resort to giving fines.<br />
<br />
Recipients of fines are not so fond of them.<br />
<br />
A University of North Carolina administrator took over three hours to count the coins.<br />
<br />
The next question: Is this a legal form of payment? The small cent (then an <a href="http://peterplanchet.com/indianheadcents.html">Indian head cent</a>) was introduced in 1864. According to the law of 1864, the cent (along with the <a href="http://peterplanchet.com/two-cent-piece.html">two cent piece</a>) was legal for use for transactions up to ten times their face value. But his transaction is for 11,000 times the face value of the cent. This is a clear violation of the Law of 1864.<br />
<br />
Cents and nickels are minor coins which have limits to their use. Dimes, quarters, half dollars, and dollars, traditionally struck in silver, are major coins, valid for any amount.<br />
<br />
A legal way to protest parking tickets is to pay them in dimes.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-420263328934355251.post-49995780439822227202015-05-19T18:51:00.000-07:002015-05-19T18:51:02.530-07:00In God We Trust -- The battle continues<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiENkTmrmaG6OPQVLbw8jp5wy2zXaMwKyGVlNwTKas3KCNbt2hwy4jluNHkRZEU4lBc-GLDqcSJ7pxqbEVesjbZcR2KM6vAdQh6EPHjPe62j4VtTsF1LNtP2I_9bKhe100r0gXCVyVW7Fg/s1600/two_cent_piece.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="318" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiENkTmrmaG6OPQVLbw8jp5wy2zXaMwKyGVlNwTKas3KCNbt2hwy4jluNHkRZEU4lBc-GLDqcSJ7pxqbEVesjbZcR2KM6vAdQh6EPHjPe62j4VtTsF1LNtP2I_9bKhe100r0gXCVyVW7Fg/s320/two_cent_piece.jpg" width="320" /></a></div>
I have written several times about the motto "In God We Trust" which, as used on coins, celebrated its 150th anniversary last year. <br />
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The motto offended Christians in the 20th century and atheists in the 21st. The words "In God We Trust" are the most controversial words on a coin. No one is suing the government over the words "E Pluribus Unum" "liberty" or "five cents."</div>
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<div>
The latest salvo against the motto's numismatic appearance is about to be fired by attorney Michael Newdow, who is seeking plaintiffs for his case. Former cases argued that the motto violated the establishment clause of the constitution. But in the 1970 case, Aranow vs. United States, the Supreme
Court upheld the motto because it had "lost through rote repetition any significant religious content." The new case will argue that the law violates the Religious Freedom Restoration Act, which states that religious activity may not be substantially burdened without a compelling governmental interest and laws narrowly tailored to serve that interest. Newdow intends to argue that the government has no compelling interest in placing "In God We Trust" on every coin when most other nations function without it.</div>
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For background information about the origin of this motto and why Christians were offended, please go to my: <a href="http://peterplanchet.com/two-cent-piece.html">two cent piece article</a>.<br />
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<div>
More recently, I wrote an article about a <a href="http://peterplanchet.blogspot.com/2012/09/romney-vows-to-save-in-god-we-trust-on.html">debate on the motto between Mitt Romney and Barack Obama.</a> With another presidential election coming up, it will be interesting to see whether "In God We Trust" makes it to the debate.</div>
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-420263328934355251.post-24310979307399839992015-05-08T19:39:00.001-07:002015-05-08T19:40:43.517-07:00The word "Numismatist" in a Guido Bruetti Mystery<div class="tr_bq">
Are you looking for a detective story with the word "numismatist" in it?</div>
<br />
I just finished reading <a href="http://www.amazon.com/gp/product/B0097CWKRS/ref=as_li_tl?ie=UTF8&camp=1789&creative=390957&creativeASIN=B0097CWKRS&linkCode=as2&tag=peterplanchet-20&linkId=ZY6JBPOW6PGRWLIV">Death in a Strange Country: A Commissario Guido Brunetti Mystery </a> The action occurs on page 25:<br />
<br />
<blockquote>
'The report isn't back yet, but he had American coins in his pocket, so he's got to be an American."<br />
<br />
"Or a numismatist," Brunetti suggested amiably. </blockquote>
<blockquote>
There followed a long pause which told Brunetti the Vice-Questore didn't know the meaning of the word." </blockquote>
I always enjoy Italian detective stories that mention numismatists -- even if only in passing.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-420263328934355251.post-19929396856004695492015-05-01T20:19:00.001-07:002015-05-01T20:19:18.166-07:00Special proof dimes for March of Dimes look like a bargain<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpvH2vuRNMAYn2q6hQFhINmhQ3wY99mDvEorusdzSv6-UgRNMwHBvE9a_BdWSYcW6s5TrA3DOEKKNbzJHCb110u7fV8vxvo7Zscl1UWsiDWRe4Yz_JairlAaveuKMRMQKNL2NlKzEjhLU/s1600/2015_March-of-Dime_10c_Rpf_P_Ofacecom.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpvH2vuRNMAYn2q6hQFhINmhQ3wY99mDvEorusdzSv6-UgRNMwHBvE9a_BdWSYcW6s5TrA3DOEKKNbzJHCb110u7fV8vxvo7Zscl1UWsiDWRe4Yz_JairlAaveuKMRMQKNL2NlKzEjhLU/s1600/2015_March-of-Dime_10c_Rpf_P_Ofacecom.jpg" height="157" width="320" /></a></div>
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On May 4 at noon, the US mint will release two dimes as part
of a March of Dimes Set.<span style="mso-spacerun: yes;"> </span>One dime
will be a reverse proof from Philadelphia, while the other is a proof from West
Point.<span style="mso-spacerun: yes;"> </span>They will accompany the
March of dimes commemorative dollar in a set selling for $61.95.<span style="mso-spacerun: yes;"> </span>The commemorative dollar alone costs $51.95,
so the two special dimes are a mere ten bucks.<span style="mso-spacerun: yes;"> </span>“How much will these coins be worth?” I hear you ask.<span style="mso-spacerun: yes;"> </span></div>
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The mintage for the two dimes will be a paltry 75,000.<span style="mso-spacerun: yes;"> </span>To look for comparable proof dimes, we
have to go back to 1951, with a mintage of 57,500 or 1952 with a mintage of
81,980.<span style="mso-spacerun: yes;"> </span>These are worth $47 and
$33.<span style="mso-spacerun: yes;"> </span>The modern dimes should be
worth more than this.<span style="mso-spacerun: yes;"> </span>Most
collectors of the 1950’s dimes stick to the business strikes while collectors of
more modern sets include the proofs.<span style="mso-spacerun: yes;">
</span>In particular, the reverse proof will have a unique appearance and
should demand a substantial premium.</div>
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To compare to modern coins with low mintage, we need to look
at nickels.<span style="mso-spacerun: yes;"> </span>The special matte
uncirculated nickels of 1994 and 1997 had mintages of 167,703 and 25,000.<span style="mso-spacerun: yes;"> </span>These are valued at $71 and $244
respectively.</div>
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I note that for comparable mintages, proof nickels are worth
more than proof dimes, most likely due to their larger size.</div>
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Based on my analysis, the two proof dimes could reasonably
be valued at $65 to $75 each.<span style="mso-spacerun: yes;"> </span>I
expect sets to start selling for over $150.<span style="mso-spacerun: yes;"> </span>The $61.95 price for the three coin set should be a
tremendous bargain.</div>
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-420263328934355251.post-29715104578645612752015-04-17T18:18:00.000-07:002015-04-17T18:34:49.876-07:00The Saints are Marching In! 1933 Double Eagles to return to PennsylvaniaThe Saints are marching in!<br />
<br />
Congratulations to Joan Langbord. The 3rd US Circuit Court of Appeals overturned a previous ruling and stated that Joan Langbord is the owner of the ten 1933 Saint Gaudens double eagles.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgcmE4ttcunUB4bFY6O6DNVTLyWsvJSdD3HhWTS1y2BIexKLinIZUDvhdQ-1qM7DnZzwZCJAmB2FiP-f8cB86gcYYFs8gC5FWXelp0LtiEkgmF5fqOWpQVXeebaxUj1HrVaMEpNAj0x8ow/s1600/1933_double+_eagle.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgcmE4ttcunUB4bFY6O6DNVTLyWsvJSdD3HhWTS1y2BIexKLinIZUDvhdQ-1qM7DnZzwZCJAmB2FiP-f8cB86gcYYFs8gC5FWXelp0LtiEkgmF5fqOWpQVXeebaxUj1HrVaMEpNAj0x8ow/s1600/1933_double+_eagle.jpg" height="320" width="320" /></a></div>
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I am sure the back story is old hat to most of you, but the double eagles were somehow taken from the mint in 1933, shortly before gold coins were removed from circulation by Franklin Roosevelt. The government had made circumstantial arguments that the coins were probably stolen by Israel Switt, Joan Langbord's father. Langbord "found" the coins and (foolhardily) sent them to the Secret Service to be authenticated. The secret service authenticated and confiscated them. In 2011 a federal jury ruled that the government had the right to keep the coins.<br />
<br />
Read about the backstory on my website <a href="http://peterplanchet.com/saint_gaudens.html">here</a>. Or on my blog <a href="http://peterplanchet.blogspot.com/2011/07/court-rules-that-government-rightly.html">here.</a> Or some other schmo's website here: <a href="http://saintgaudens.us/confiscated%20double%20eagles.html">http://saintgaudens.us/confiscated%20double%20eagles.html</a>.<br />
<br />
But the result of today's 2-1 vote was that it was the government that had broken the law. The government was required to either return the coins or commence a civil forfeiture proceeding within 90 days. The government did neither of these things. Todays ruling shows that even the Department of Justice is not above the law.<br />
<br />
The government has been fixated on these coins for over 80 years (while oddly ignoring other similar cases such as the <a href="http://peterplanchet.com/libertyheadnickel.html">1913 liberty head nickel</a>). It is probably time for them to go on to something else.<br />
<br />
Meanwhile, I admit it. I am giddy about today's decision. At some time in the future we will see some 1933 double eagles in the marketplace.<br />
<br />
To the 1933 double eagles -- we look forward to seeing you back home in Philadelphia.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-420263328934355251.post-44422059355854839132015-02-02T17:44:00.000-08:002015-02-02T18:06:01.408-08:00US Marshals 226th anniversary coins -- a critique<div class="separator" style="clear: both; text-align: center;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdONXmxjLpYZskUBcaGRd4ceFu5rVgCbJIl8rZY9dMoOKYs3qNfmowmQu5yQAd8n7GQua87f2cTvCE3mHIyPb_kcXb48KmCl9tqhhRgsF-rowJyFG040JZNeN-zNtQv6lNliTewPo8haY/s1600/2015-USMarshals-Gld-Prf-O-200.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdONXmxjLpYZskUBcaGRd4ceFu5rVgCbJIl8rZY9dMoOKYs3qNfmowmQu5yQAd8n7GQua87f2cTvCE3mHIyPb_kcXb48KmCl9tqhhRgsF-rowJyFG040JZNeN-zNtQv6lNliTewPo8haY/s1600/2015-USMarshals-Gld-Prf-O-200.jpg" height="200" width="200" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNn3GnOfgDx6SuSD69hylgZ0t3GQ7nmR26KH7pwSyCw9d1my-1ATmo98I-neCkNoGx6INj3_PsBZz64c7MMzMa3vV4WNEMsIqQXQx7xCAd7unykX7XzDkQ-yXX9Pqw1NcGM9EdGn2eOnk/s1600/2015-USMarshals-Gld-Prf-R-200.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNn3GnOfgDx6SuSD69hylgZ0t3GQ7nmR26KH7pwSyCw9d1my-1ATmo98I-neCkNoGx6INj3_PsBZz64c7MMzMa3vV4WNEMsIqQXQx7xCAd7unykX7XzDkQ-yXX9Pqw1NcGM9EdGn2eOnk/s1600/2015-USMarshals-Gld-Prf-R-200.jpg" height="200" width="200" /></a></div>
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The US mint is producing a commemorative coin series to
depict the 225<sup>th</sup> anniversary of the United States Marshals
Service.<span style="mso-spacerun: yes;"> </span>This is my critique.<span style="mso-spacerun: yes;"> </span>Spoiler alert – it’s not pretty (but
neither are the coins).</div>
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Who celebrates a 225<sup>th</sup> anniversary?<span style="mso-spacerun: yes;"> </span>I recall the American bicentennial
celebration of 1976.<span style="mso-spacerun: yes;"> </span>Twenty five
years later, the 225<sup>th</sup> anniversary of the US went unnoticed.<span style="mso-spacerun: yes;"> </span>Even worse is the fact that the 225<sup>th</sup>
anniversary of the US marshall service was in 2014, but the coins are produced
in 2015.<span style="mso-spacerun: yes;"> </span>So we are really
celebrating the 226<sup>th</sup> anniversary.<span style="mso-spacerun: yes;"> </span>The coins have both the dates “1789 – 2014” and the date
2015.<span style="mso-spacerun: yes;"> </span>Ridiculous.</div>
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The five dollar gold coin has two sides that look like
reverses.<span style="mso-spacerun: yes;"> </span>The theme of the coin
(according to the advertising brochure) is “225 years of sacrifice.”<span style="mso-spacerun: yes;"> </span>In order to show the theme, the
designer merely wrote the words “225 years of sacrifice.”<span style="mso-spacerun: yes;"> </span>Boring.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgntQ1HUTmnARlwjfjBXPIqZfDeJKCBWTFxCOpRc4zLcLt4D5NJsGE8q28yk9GytFXp07xCW3Vk2eOWffmRG7N3KUX0PaPpD8KUzw4-3iYRkPUfiEegL1GlyeY0jTwW8AQ3q0RSTven05o/s1600/2015-USMarshals-Sil-Prf-R-200.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgntQ1HUTmnARlwjfjBXPIqZfDeJKCBWTFxCOpRc4zLcLt4D5NJsGE8q28yk9GytFXp07xCW3Vk2eOWffmRG7N3KUX0PaPpD8KUzw4-3iYRkPUfiEegL1GlyeY0jTwW8AQ3q0RSTven05o/s1600/2015-USMarshals-Sil-Prf-R-200.jpg" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgZzSFZNOBFxdWhXUTXmCOgX3HpxphzhKzI_UhXg8dhjzI-RGGuoetQonbVDfQW6lgSP5S52F1eSTP_tqyxyrfC2n1JyP79AmJLmaStA4Q0t0JT_s6UXPz-xV0PBPbnvvgxtcvPqlDpuQI/s1600/2015-USMarshals-Sil-Prf-O-200.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgZzSFZNOBFxdWhXUTXmCOgX3HpxphzhKzI_UhXg8dhjzI-RGGuoetQonbVDfQW6lgSP5S52F1eSTP_tqyxyrfC2n1JyP79AmJLmaStA4Q0t0JT_s6UXPz-xV0PBPbnvvgxtcvPqlDpuQI/s1600/2015-USMarshals-Sil-Prf-O-200.jpg" /></a></div>
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The silver dollar represents the best effort in the
set.<span style="mso-spacerun: yes;"> </span>The obverse (which the mint
calls the reverse) features a wild west era US Marshall with a wanted poster in
hand.<span style="mso-spacerun: yes;"> </span>The reverse (which the mint
calls the obverse) shows the US Marshall star and some cowboys that have been
run over by steam rollers (the mint refers to these as silhouettes).</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhelOsxrK2OZqS3PkZNJUCn0Aj_Hm5tNXVaFy4vlNfkb3Ok4zcgp25WI7_4iyvd782qA-QaFxPH7tZVAaSLbVllKd80tRxCae7vJatM8B3wMWZmmAJzowkO8drzPkYI7zxGdfyeRBG265s/s1600/2015-USMarshals-Clad-Prf-O-200.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhelOsxrK2OZqS3PkZNJUCn0Aj_Hm5tNXVaFy4vlNfkb3Ok4zcgp25WI7_4iyvd782qA-QaFxPH7tZVAaSLbVllKd80tRxCae7vJatM8B3wMWZmmAJzowkO8drzPkYI7zxGdfyeRBG265s/s1600/2015-USMarshals-Clad-Prf-O-200.jpg" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVReXukqUuquwR8rZSHppTMxd4lOwAgpsQmqVELtTKphU0wHZgJCS6WwZgHeJVgvolWt_a9OR6IC8WFVww_VvK-CGbpje-0tnoB-Qa5oUYaJbeip8wZGxLZsrywAffZCsL0k-JcBDZwLI/s1600/2015-USMarshals-Clad-Prf-R-200.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVReXukqUuquwR8rZSHppTMxd4lOwAgpsQmqVELtTKphU0wHZgJCS6WwZgHeJVgvolWt_a9OR6IC8WFVww_VvK-CGbpje-0tnoB-Qa5oUYaJbeip8wZGxLZsrywAffZCsL0k-JcBDZwLI/s1600/2015-USMarshals-Clad-Prf-R-200.jpg" /></a></div>
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The clad half dollar is a hodge podge of miscellany.
The obverse is shared by an old west marshal and a modern marshal whose hair is pulled by an unseen gravitational field.<span style="mso-spacerun: yes;"> </span>The reverse has a plethora of symbols such as a
spaghetti-haired blind justice, scales, the marshal’s star, railroad tracks,
schoolbooks, handcuffs, the constitution, and a whiskey jug.<span style="mso-spacerun: yes;"> </span>Do you know what everything
represents?<span style="mso-spacerun: yes;"> </span>Yes, all this on a
single side of a coin.</div>
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The mint’s brochure states that surcharges of $35 per gold
coin, $10 per silver coin, and $3 per clad coin are authorized “to be paid to
several organizations.”<span style="mso-spacerun: yes;"> </span>Sounds
vague to me.<span style="mso-spacerun: yes;"> </span>Something tells me
that these coins will not make the organizations rich.</div>
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The mint is producing both uncirculated and proof
varieties of each of the three denominations.<span style="mso-spacerun: yes;"> </span>Do we really need all these commemorative coins?<span style="mso-spacerun: yes;"> </span><br />
<span style="mso-spacerun: yes;"><br /></span>
<span style="mso-spacerun: yes;">For information and my opinion about other American commemorative coins, please go <a href="http://peterplanchet.com/commemorative_coins.html">here</a>.</span></div>
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2016 will be the 121<sup>st</sup>
anniversary of the first corrugated cardboard box.<span style="mso-spacerun: yes;"> </span>Perhaps a commemorative coin set will result.</div>
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-420263328934355251.post-7510199817048246992014-11-03T19:06:00.003-08:002014-11-03T19:08:17.447-08:00Will the Jackie Kennedy first spouse coin be popular?Is Jackie Kennedy three times as popular as Eleanor Roosevelt? The US mint is counting on it. For the now anemic first spouse gold coin series, mintages are limited to 10,000 per coin (split between the proof and uncirculated). For most of the first spouses, the demand has been nowhere near 10,000. In 2015, the series will be headlined by Jackie Kennedy. For this coin, the limit will be tripled to 30,000.<br />
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Will collectors who have been on the sideline rush towards Jackie? What do you think?Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-420263328934355251.post-63690219601719394282014-10-01T20:19:00.001-07:002014-10-01T20:19:18.388-07:00Over $20,000 in coins collected from vending machines and car wash vacuumsDr. Planchet would like to congratulate Rick Snyder for his efforts in coin collecting. Although Mr. Snyder may not have found any coins of significant numismatic value, he was able to collect $21,495 in coins -- an amazing plentitude of cents, nickels, dimes, and quarters-- all abandoned in vending machines and the vacuums in car washes. It took Mr. Snyder over ten years to accomplish his feat.<br />
<br />
The coins were donated to the Gulf Shore Animal League.<br />
<br />
The full story can be found .<a href="http://www.bradenton.com/2014/10/01/5388421_bradenton-man-donates-21495-that.html?sp=/99/100/&rh=1">here.</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-420263328934355251.post-43357121214313320852014-03-12T20:11:00.000-07:002014-03-12T20:11:12.224-07:00Pawn Stars Melting a coin collection? -- Pardon my SkepticismToday I read an interesting article about a coin collection that was allegedly stolen and then sold to the Las Vegas Gold & Silver Pawn Shop that is featured on the History Channel's show, Pawn Stars (which admittedly I have watched once or twice). The coins were apparently graded and slabbed.<br />
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A Pawn Shop spokesperson (I didn't realize Pawn Shops had spokespersons) stated "If the grader is not someone we trust, the cases are cracked open and the coins are sent out to be melted down."<br />
<br />
The melting of any historic coin brings a tear to my eye. But here, I smell a rat.<br />
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The coins included a Saint Gaudens double eagle, morgan dollars, and an American Buffalo gold coin. The fact that the coins may have been overgraded by a disreputable third party grader would not produce grounds for melting the coins. All of the coins, even at relatively low grades, would have at least some premium to the bullion value. Even if they had no premium, melting them would still make no sense. Any nitwit knows an American Buffalo coin contains one ounce of pure gold. If it is melted into a clump of gold, its purity will be unknown to anyone except those wishing to conduct extensive tests. Silver investors frequently buy silver coins (rather than no-name silver bars) because they know the composition.<br />
<br />
And so, why were the coins so quickly melted? One reason is that it could provide cover in case the coins turned out to be stolen. <br />
<br />
As a postscript, the article claims the collection included a rare 1903 Saint Gaudens double eagle -- which would indeed be rare since the series did not start until several years later. I assume the year was a typo.<br />
<br />
The original article can be found <a href="http://gma.yahoo.com/pawn-stars-shop-may-melted-stolen-50-000-190156506--abc-news-personal-finance.html">here</a>.<br />
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<br />Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-420263328934355251.post-61920507913293755252014-01-08T21:26:00.002-08:002014-01-08T21:26:25.338-08:00Brasher Doubloon vs. 1913 Liberty Head Nickel: A Battle for most valuable coin<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhkeCOSyLhBfnnKOFn5Tjp9sDufbQmxq4g2FDzG4bNI4OqydjFRpkgeKQ6XYXxuZfu3NHwDKByKM2dRGZqhdmo6tk5LY-SsM_8ftOeROZ249k1drMXKYyhOyqrlQbn-8u2isZwd36z0NfY/s1600/brasher_doubloon.jpeg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhkeCOSyLhBfnnKOFn5Tjp9sDufbQmxq4g2FDzG4bNI4OqydjFRpkgeKQ6XYXxuZfu3NHwDKByKM2dRGZqhdmo6tk5LY-SsM_8ftOeROZ249k1drMXKYyhOyqrlQbn-8u2isZwd36z0NfY/s1600/brasher_doubloon.jpeg" height="200" width="196" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNyv4BLphF6ivdfp_3_SHn0XesExxFM6RSg-jcehlqnVuz96sYrquaSRuVEMmwAWU2XZyKQYJVSiAlmspnwD4VoAgZ81fP4ppBCwSyvdq8qzJUhFI6qDJvu3tHrNVE5Z7ZznEw0u9PgVw/s1600/1913_liberty_head.jpeg" imageanchor="1" style="clear: left; display: inline !important; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNyv4BLphF6ivdfp_3_SHn0XesExxFM6RSg-jcehlqnVuz96sYrquaSRuVEMmwAWU2XZyKQYJVSiAlmspnwD4VoAgZ81fP4ppBCwSyvdq8qzJUhFI6qDJvu3tHrNVE5Z7ZznEw0u9PgVw/s1600/1913_liberty_head.jpeg" height="200" width="200" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhkeCOSyLhBfnnKOFn5Tjp9sDufbQmxq4g2FDzG4bNI4OqydjFRpkgeKQ6XYXxuZfu3NHwDKByKM2dRGZqhdmo6tk5LY-SsM_8ftOeROZ249k1drMXKYyhOyqrlQbn-8u2isZwd36z0NfY/s1600/brasher_doubloon.jpeg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><br /></a></div>
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Today in Florida, there is a battle for the most valuable coin in the FUN show auction as a 1787 Brasher Doubloon takes on a 1913 <a href="http://peterplanchet.com/libertyheadnickels.html">Liberty Head Nickel</a>. The internet bidding has now closed. The Brasher Doubloon has a high bid of 3.6 million dollars (4.23 million with the buyer's premium) while the Liberty Head nickel has a high bid of 2.8 million dollars (3.29 million including the buyers premium). </div>
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Both coins have appeared on fictional TV or movies. The Olsen specimen of the Liberty head nickel appeared on the Hawaii five O episode, million dollar nickel, while the Doubloon starred in the detective movie entitled <a href="http://www.amazon.com/gp/product/B00AB2NX4M/ref=as_li_qf_sp_asin_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=B00AB2NX4M&linkCode=as2&tag=peterplanchet-20">The Brasher Doubloon</a><img alt="" border="0" src="http://ir-na.amazon-adsystem.com/e/ir?t=peterplanchet-20&l=as2&o=1&a=B00AB2NX4M" height="1" style="border: none !important; margin: 0px !important;" width="1" />
.</div>
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The coins are both important, but sharply contrasting parts of numismatic history. The Brasher Doubloon as an early example of colonial coinage (the only gold coin intended to circulate) while the liberty head nickel is likely the result of minting shenanigans. The liberty head nickel is the scarcer of the two coins with only five struck. There are seven Brasher Doubloons that are accounted for.<br />
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We will wait and see how high prices go. Good luck to both coins.</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-420263328934355251.post-45943784978444349942013-07-27T20:39:00.000-07:002013-07-27T20:39:33.773-07:00John McCain, paper money, and strippers<div class="separator" style="clear: both; text-align: right;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKS4WtUCX7US9Vn1F1lww6NfignsC1ypUnBMb0Ep7z4RVWu9Nk_AhHfnKbO6p-PD85t7ya8G9BatpaLn2NAzDYCdAICI-VpXAP7mKVmVfONHykz17eED8Qs5vkCnFj_wnxWn8dTqrST0o/s1600/john_mccain.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiKS4WtUCX7US9Vn1F1lww6NfignsC1ypUnBMb0Ep7z4RVWu9Nk_AhHfnKbO6p-PD85t7ya8G9BatpaLn2NAzDYCdAICI-VpXAP7mKVmVfONHykz17eED8Qs5vkCnFj_wnxWn8dTqrST0o/s200/john_mccain.jpg" width="157" /></a></div>
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As the battle over a possible discontinuing of our American
paper dollar in favor of the unpopular dollar coins rages on, Arizona Senator and paper dollar foe, John McCain,
was asked a question about strippers. </div>
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(Read here about the history of <a href="http://peterplanchet.com/presidential_dollars.html">unpopular dollar coins</a>),</div>
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According to the story, strippers prefer
getting tipped with paper dollars and have complained about a possible demise
of the paper dollar. When a
reporter questioned McCain, he quipped “I hope they could obtain larger
denominations … fives, tens, one hundreds."<br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhfuoxYwu9QhbEeKT71QB1pwHFkpqGRzKLPgaZr5YFF6HaXR8Ria0R0zWaNtFqMQFvF9Xwdj8m8fKszsCZWLMARaf2phsF-syVffkpCU5uQ3hEtDlwFNYUJXwdBwgb2hszdp_-b__Pl5zY/s1600/4158014_s.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhfuoxYwu9QhbEeKT71QB1pwHFkpqGRzKLPgaZr5YFF6HaXR8Ria0R0zWaNtFqMQFvF9Xwdj8m8fKszsCZWLMARaf2phsF-syVffkpCU5uQ3hEtDlwFNYUJXwdBwgb2hszdp_-b__Pl5zY/s200/4158014_s.jpg" width="132" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">John McCain recently suggested that strippers be tipped in higher denomination bills</td></tr>
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Since I generally spend my evenings on my studies rather than
attending stripper clubs, I ask my readers to please forgive my
naivete. The first question I have
is what were strippers given as tips in the 1970’s? Were they receiving dollar bills or quarters? Today’s dollar bill is the equivalent
in spending power to the quarter in the 1970’s. If strippers used to receive one dollar bills, today they
should receive fives merely to keep up with inflation. In this respect, McCain is absolutely
correct.
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<span style="font-family: Cambria; font-size: 12.0pt; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: Cambria; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin;">Another question: What
happens at stripper clubs in Canada, where the smallest paper denomination is
the five? Hopefully my Canadian
friends can answer this so I don’t have to travel to Canada for a research trip
on the topic</span><!--EndFragment-->
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Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-420263328934355251.post-71250919781317053062013-07-21T18:01:00.002-07:002013-07-21T18:01:26.165-07:00An interesting pricing issue with the Girl Scouts Commemorative Dollar<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhkjW1g8R5DI0M6PBO1Xn4V1I_pyD9XxLp05FeJEqaSAeAop7rtDKPV4LaSzZrxQGny1kIb_Gshq2I7Iu1wJsSQ-WMPhkXOk7KQ2tkRQdhE3ibrpumiExy3o8_Q7zFsDR9QTGXNWBjMQIo/s1600/G11_detailed.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhkjW1g8R5DI0M6PBO1Xn4V1I_pyD9XxLp05FeJEqaSAeAop7rtDKPV4LaSzZrxQGny1kIb_Gshq2I7Iu1wJsSQ-WMPhkXOk7KQ2tkRQdhE3ibrpumiExy3o8_Q7zFsDR9QTGXNWBjMQIo/s1600/G11_detailed.jpg" /></a></div>
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Tonight I stumbled upon something of interest while browsing the US mint website (usmint.gov). The current price for an uncirculated Girl Scout Commemorative silver dollar is $55.95. The mint, however, also sells the girl scout dollar as part of a Girl Scouts of the USA Young Collectors Set. The set includes the uncirculated silver dollar along with the typical fluff of graphics and historical images. The price of the set is $54.95 -- cheaper than purchasing the coin alone. </div>
<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-420263328934355251.post-40960613133224394942013-04-26T19:26:00.000-07:002013-04-26T19:26:00.325-07:001913 Liberty Head Nickel Sells for Bargain Basement Price<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjuEG-eHLn9lF-iYBrfRzb2oEMsw__q80GXVRh7fFyMlyFKU6BFQLSm8k0sctE0Ji-wWAntVuAsfKqxHZK762UaKiX_SIW01n5gwXitaW4gvIkf8t8sba1KfsBCQrhCH2yK6jQTe4U7K8c/s1600/1913_liberty_head.jpg.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="161" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjuEG-eHLn9lF-iYBrfRzb2oEMsw__q80GXVRh7fFyMlyFKU6BFQLSm8k0sctE0Ji-wWAntVuAsfKqxHZK762UaKiX_SIW01n5gwXitaW4gvIkf8t8sba1KfsBCQrhCH2yK6jQTe4U7K8c/s320/1913_liberty_head.jpg.jpg" width="320" /></a></div>
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Did the light scratch on Liberty's neck cost nearly 2 million dollars in value?<br />
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The news is probably fish and chip paper by now, but a 1913 Liberty Head nickel was just auctioned for $3,172,500. In a previous <a href="http://peterplanchet.blogspot.com/2013_02_01_archive.html">pre-auction blog post</a>, I mentioned that even at five million dollars, the nickel would be a tremendous bargain. Even a Huffington Post article called it a bargain -- so it's not just me.<br />
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Of the five 1913 Liberty head nickels produced, two are in museums, leaving only three for the rest of us. The finest specimen sold for five million dollars in 2007, while the other (famous for appearing on Hawaii Five O in the 1970's) sold for $3,737,500 in 2010. As can be seen in the picture, the current specimen has a scratch on the neck of Miss Liberty. If the scratch was absent, would this also be a five million dollar coin? <br />
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The specimen has an intriguing history (and I don't want to sound like a broken record -- but stories add value to coins). It was to be displayed at a coin show in 1962, but the owner was killed in a car crash en route. Missing for over forty years, it will now go back into hiding with a private collector.<br />
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Read more about <a href="http://peterplanchet.com/libertyheadnickels.html">liberty head nickels </a>here.<br />
Unknownnoreply@blogger.com20tag:blogger.com,1999:blog-420263328934355251.post-89000008924973182592013-04-18T21:08:00.000-07:002013-04-18T21:08:02.981-07:00The internet sales tax: A threat to coin investorsAs I write this, The United States Senate is working on a bill to allow states to collect sales tax on purchases made on the internet. This will put the damper on those making numismatic investments by purchases rare coins on sites such as <a href="http://rover.ebay.com/rover/1/711-53200-19255-0/1?icep_ff3=9&pub=5574657938&toolid=10001&campid=5337312691&customid=&icep_uq=morgan+dollar&icep_sellerId=&icep_ex_kw=&icep_sortBy=12&icep_catId=11116&icep_minPrice=&icep_maxPrice=&ipn=psmain&icep_vectorid=229466&kwid=902099&mtid=824&kw=lg" target="_blank">ebay</a><img src="http://rover.ebay.com/roverimp/1/711-53200-19255-0/1?ff3=9&pub=5574657938&toolid=10001&campid=5337312691&customid=&uq=morgan+dollar&mpt=[CACHEBUSTER]" style="border: 0; margin: 0; padding: 0; text-decoration: none;" />
. When you invest in stock there is no sales tax -- but rare coins are considered a taxable purchase. Let's consider what happens to a Philadelphia resident (subject to a whopping 8% sales tax) purchasing $1000 worth of coins over the internet. After tax, the price will be $1080. Suppose the seller then wishes to resell the coins at a break even price. The new buyer must pay 8% tax making the cost $1166. The table below shows the effect of cumulative sales for a $1000 coin.<br />
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<ol>
<li>$1080</li>
<li>$1166</li>
<li>$1260</li>
<li>$1360</li>
<li>$1469</li>
<li>$1587</li>
<li>$1714</li>
<li>$1851</li>
<li>$1999</li>
</ol>
After nine sales, the coin must be sold for nearly double the initial cost to merely let each buyer recover the original purchase price. Under the same scenario, a buyer in one of the five states without sales tax will still find the coin for $1000.<br />
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Investments are tough when one must immediately recover 8% merely to break even.<br />
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<br />Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-420263328934355251.post-4314025149430998962013-02-04T19:50:00.000-08:002013-02-04T19:50:59.160-08:00The 1913 Liberty Head nickel should be worth more!<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhVutPuGg-cafaztdstBqaceQn01-ZYqRygIiuOud4v_YDp7-SSWCGqG6RR99TBjq4M7z8B44DG0G70igyC4MyBh3V_I1xuXvUFr_CMWFhnKw_BXAk4Zy2pmE9U3GmcQsVnE2iNI3cJPf8/s1600/1913_liberty_head.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhVutPuGg-cafaztdstBqaceQn01-ZYqRygIiuOud4v_YDp7-SSWCGqG6RR99TBjq4M7z8B44DG0G70igyC4MyBh3V_I1xuXvUFr_CMWFhnKw_BXAk4Zy2pmE9U3GmcQsVnE2iNI3cJPf8/s320/1913_liberty_head.jpg" width="312" /></a></div>
The excitement is waxing in the numismatic circles with the news that a 1913 Liberty Head Nickel will be on the auction block by Heritage Auctions at the Central Numismatic Society's coin show in Chicago in April, 2013. After hearing early estimates that the coin will fetch between two and three million dollars, I am now hearing estimates as high as five million. In my view, this would still be a tremendous bargain.<br />
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The price should be comparable to the 1933 <a href="http://peterplanchet.com/saint_gaudens.html">Saint Gaudens double Eagle</a>, which last sold for $7,590,020. I note that gold coins generally sell for more than nickel coins and large coins are worth more than small coins. This fact alone might explain the discrepancy in the price. If we examine the mintages, a mere five 1913 liberty head nickels were struck compared to 445,500 1933 double eagles.<br />
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All five liberty head nickels are currently accounted for. Two are in museums, leaving only three available for private collectors. Most of the 1933 double eagles were melted, but some escaped. The US government's position is that there is only one 1933 double eagle that is legal to own - a specimen legally exported by King Farouk. The secret service has been actively seizing 1933 double eagles, stating that they were released illegally. The same argument could apply to the 1913 liberty head nickels, which were made surreptitiously at the Philadelphia mint.<br />
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In 2004, the government seized ten 1933 double eagles from s Philadelphia jeweler who submitted them to the government for authentication. (read that story <a href="http://peterplanchet.blogspot.com/2011/07/court-rules-that-government-rightly.html">here</a>) This means that there are at least 11 1933 double eagles that are accounted for. There are undoubtedly more that are secretly owned. The 1913 liberty head nickel, is therefore the much scarcer of the two coins. In the future, the government could release some of its 1933 double eagles, which would cause their values to plummet. There is no such risk with the 1913 liberty head nickel. <br />
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A good story is an essential ingredient to the value of a coin. Both the 1933 double eagle and the 1913 Liberty Head nickel have stories -- but I find the nickel story more intriguing. It began with someone clandestinely striking the nickels at the Philadelphia mint. Then,as a rouse, a mint employee placed ads offering to buy any such nickels (which were not thought to exist). Years later, five nickels magically appeared. One of the nickels was purchased by George Walton, who was killed in a car accident on the way to a coin show. His heirs recovered the nickel, but it was thought to be a fake -- only to be discovered as real years later. <br />
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A great story, and a great nickel -- clearly worthy of a seven million dollar price tag.<br />
Read more about it in the book <a href="http://www.amazon.com/gp/product/0974237183/ref=as_li_ss_tl?ie=UTF8&camp=1789&creative=390957&creativeASIN=0974237183&linkCode=as2&tag=peterplanchet-20">Million Dollar Nickels: Mysteries of the 1913 Liberty Head Nickels Revealed...</a><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=peterplanchet-20&l=as2&o=1&a=0974237183" style="border: none !important; margin: 0px !important;" width="1" />
or visit my webpage at <a href="http://www.peterplanchet.com/libertyheadnickels.html">peterplanchet.com</a>.Unknownnoreply@blogger.com10tag:blogger.com,1999:blog-420263328934355251.post-74255897834428441342013-01-02T21:39:00.000-08:002013-01-02T21:39:03.613-08:00"Numismatics" is word of the dayThe field of coin collecting was honored during the nudiustertian morning when the word "numismatics" was selected as the word of the day on wordsmith.org. The weeks theme is words that start with the "new" sound. Other words in the category include pneumonic and nouveau pauvre<br />
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For those unfamiliar with the word "nudiustertian" it means of or relating to the day before yesterday. I have never used the word before now, and I imagine I will seldom use it again.<br />
The word numismatics, of course, I use everyday at least thrice.<br />
Unknownnoreply@blogger.com5tag:blogger.com,1999:blog-420263328934355251.post-80821090581088090582012-12-02T15:32:00.001-08:002012-12-02T15:32:19.596-08:00Spielberg's Lincoln: A numismatic mistake<div class="separator" style="clear: both; text-align: center;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg6GNknFsOiGewai3Se6EJJw8-S84mXJEJ2F2mWdJJgh_d426VQFIu60IWHYl_76UP2IgHemstzVSKPJ37q5ip_RUexFzGeIXA9lNzkljFyy6RgCOiWxmPI6oEPMhyuPD4gSZhqLEWrF9U/s1600/1864_half_dollar_obv.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg6GNknFsOiGewai3Se6EJJw8-S84mXJEJ2F2mWdJJgh_d426VQFIu60IWHYl_76UP2IgHemstzVSKPJ37q5ip_RUexFzGeIXA9lNzkljFyy6RgCOiWxmPI6oEPMhyuPD4gSZhqLEWrF9U/s200/1864_half_dollar_obv.jpg" width="200" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHwWqA3u9_RojmDMkCrS2uTs8b0vJNR5HWKNJ4z4raMsz0pXouWNGrwKIWPOzHhCeqVw5cMiCVQYt1Yy8FaGLVNFAvuFzSXK4KhsewSPJL2g-chr3JPpzWypUJ1Xq9oPMxfzbWP-CNrIQ/s1600/1864_half_dollar_rev.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em; text-align: right;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHwWqA3u9_RojmDMkCrS2uTs8b0vJNR5HWKNJ4z4raMsz0pXouWNGrwKIWPOzHhCeqVw5cMiCVQYt1Yy8FaGLVNFAvuFzSXK4KhsewSPJL2g-chr3JPpzWypUJ1Xq9oPMxfzbWP-CNrIQ/s200/1864_half_dollar_rev.JPG" width="200" /></a></div>
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Last night, I saw Stephen Spielberg's film, <i>Lincoln</i>. I was throughly enjoying the cinematic experience until one of Lincoln's adversaries told Lincoln that people from back home hate him so much, they won't even use half dollars with his portrait on them. Hmmm. Lincoln's portrait on the half dollar while he was still alive? The mere thought is absurd. Lincoln was the president -- not the king. Certainly he would not be so arrogant as to put his own portrait on a coin.</div>
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The words were supposedly uttered in 1864. The illustration above shows an actual 1864 half dollar. Is Lincoln dressed as a woman on the obverse or is he in an eagle costume for the reverse? Probably not. In 1864, the nation was suffering through the <a href="http://peterplanchet.com/seatedlibertycoins.html">seated liberty coin</a> design for all denominations. No Lincoln to be found. The only time Lincoln was depicted on a half dollar was in 1918 for the <a href="http://peterplanchet.com/commemoratives/illinois_half.html">Illinois Commemorative half dollar</a>. He appeared on the <a href="http://peterplanchet.com/lincoln_cents.html">Lincoln cent</a> starting in 1909.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWQG-jJz861vUrbebkZHRuNXMAiqLn9TNhFGOKejdY4C31ViEfTpiqNloAadI5TanBxgR4MSEl_yYaIiAjN6GBGs66pPZDgSWvtpB29qLnghMl18cfBiD1J-76BoUcq0jvJG4CHJnP0CQ/s1600/Lincoln-Half-Dollar.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img border="0" height="205" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWQG-jJz861vUrbebkZHRuNXMAiqLn9TNhFGOKejdY4C31ViEfTpiqNloAadI5TanBxgR4MSEl_yYaIiAjN6GBGs66pPZDgSWvtpB29qLnghMl18cfBiD1J-76BoUcq0jvJG4CHJnP0CQ/s400/Lincoln-Half-Dollar.jpg" width="400" /></a></div>
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Film writer Tony Kushner has a number of historical inaccuracies in the film. This is to be expected in a dramatic work. As pointed out by historian, Eric Foner, author of <a href="http://www.amazon.com/gp/product/039334066X/ref=as_li_ss_tl?ie=UTF8&camp=1789&creative=390957&creativeASIN=039334066X&linkCode=as2&tag=peterplanchet-20">The Fiery Trial: Abraham Lincoln and American Slavery</a><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=peterplanchet-20&l=as2&o=1&a=039334066X" style="border: none !important; margin: 0px !important;" width="1" />, the film offers a tremendous exaggeration in Lincoln's role in passing the thirteenth amendment abolishing slavery -- an amendment that he did not initiate, and only started to support in mid 1864. And as I point out, the important contains an important error in a numismatic reference.</div>
Unknownnoreply@blogger.com15tag:blogger.com,1999:blog-420263328934355251.post-15595117886268217072012-11-30T19:10:00.003-08:002012-11-30T19:18:45.284-08:00The dollar coin --- will Congress try yet again?<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBb5C1j9qdB0PcICH3wMYxFWIi6VCsxlEnvObvoVHFsCi9ig3QmtCB5f0qhLuh3f1hkULen3fylKonU_Lve7fCAoEF3svBNU4_-rAYTm2F1MUAKcT_NPp6Lg41nIkgGtpPaiXLNO5pGug/s1600/eisenhower_dollar.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="164" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBb5C1j9qdB0PcICH3wMYxFWIi6VCsxlEnvObvoVHFsCi9ig3QmtCB5f0qhLuh3f1hkULen3fylKonU_Lve7fCAoEF3svBNU4_-rAYTm2F1MUAKcT_NPp6Lg41nIkgGtpPaiXLNO5pGug/s320/eisenhower_dollar.jpg" width="320" /></a></div>
The <a href="http://peterplanchet.com/presidential_dollars.html">dollar coin</a> was never popular in the United States. The main complaint in 1794 was that the dollar was too heavy to carry around. Today, you would need thirteen dollars clunking around your trouser pockets to provide the same buying power as the original dollar. Americans are uncomfortable with that and prefer greenbacks folded neatly in a wallet or crumpled in a drawer.<br />
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I myself enjoy the dollar coins. Apparently I have little company. From <a href="http://peterplanchet.com/morgandollars.html">Morgans</a> to Ikes to Suzies, the coins had never found a comfortable home in American pockets.<br />
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Today, Congress is yet again trying to eliminate the dollar bill and replace it with the unpopular coin. At a Congressional hearing, the Government Accountability Office regurgitated their comment that the exclusive use of dollar coins would save 4.4 billion dollars over the next thirty years. It sounds impressive until we do the math and find that it saves each American a mere forty eight cents per year -- not nearly enough to pay for the new pair of pants with the worn out pockets.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-420263328934355251.post-70948391118180429942012-10-09T22:21:00.000-07:002012-10-09T22:21:04.392-07:00Learning about coins in schoolFrom time to time I have complained about the lack of numismatic education in our schools. I am pleased to report on a school that has decided to include at least some numismatics in their curriculum.<br />
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I met an eighth grader named Evie in Kingston, Pensylvxxxx (for her privacy, I have x'd out portions of her address). During a brief interview, Evie told me that in school she was learning about the portrait on each coin and note. She even learned that Salmon Chase was on the $10,000 bill (You will recall that Salmon Chase was involved in the origin of <a href="http://www.peterplanchet.com/twocents.html">In God We Trust</a> on our coins).<br />
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Of course, I would like to see much more numismatics taught in the schools. At least the portrait information is a start. Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-420263328934355251.post-63912997199477080632012-09-30T19:57:00.002-07:002012-09-30T19:57:26.782-07:00North Shore Coins Suddenly closed for remodeling after allegedly buying stolen goodsI just checked the North Shore Coins website which states that "NSC is Closed for Remodeling." <br />
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There's no reason to check the website at http://www.northshorecoins.com/ (but many of you will anyway)<br />
.<br />
The sudden remodeling took place after the dealer was arrested and charged with buying thousands of dollars worth of stolen goods. The sellers of the goods were undercover police officers.<br />
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There are two comments of note here:<br />
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<ol>
<li>It is always sad to see coin dealers whose lack of scruples allows them to purchase goods that they know were stolen.</li>
<li>Why are the police selling stolen goods?</li>
</ol>
Please feel free to comment. I am especially interested in readers opinions on the second point.<br />
Unknownnoreply@blogger.com4tag:blogger.com,1999:blog-420263328934355251.post-87516893467257795402012-09-22T10:55:00.002-07:002012-09-22T11:22:09.270-07:00One million dollars for a 1943 S Bronze Lincoln Cent!<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikzPXm_4SBQMYZWQvFHI63pTIDVK6JV3EZ4bXN6nNn5Np0cIEwZ2Wm3NyBF7tl72jrurMJydCdENvl7Q5PM7e2h8kbpc-C4tNNKCpPppA3BvCRJvu6i5961r6LXGAP3AKHNX3JWJWZkvE/s1600/1943Sbronze+cent.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikzPXm_4SBQMYZWQvFHI63pTIDVK6JV3EZ4bXN6nNn5Np0cIEwZ2Wm3NyBF7tl72jrurMJydCdENvl7Q5PM7e2h8kbpc-C4tNNKCpPppA3BvCRJvu6i5961r6LXGAP3AKHNX3JWJWZkvE/s320/1943Sbronze+cent.jpeg" width="247" /></a></div>
A 1943S copper<a href="http://peterplanchet.com/lincoln_cents.html"> Lincoln Cent </a>has sold for a whopping one million dollars as a single collector, Bob Simpson, has virtually cornered the tiny market on the 1943 coppers.<br />
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I'm sure this is old hat to most of you, but in 1943, the US mint produced Lincoln cents out of steel to conserve copper for the World War II effort. By error, a small number of copper coins were produced at each mint.<br />
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The value of the coin is based on several factors. First the off metal error is rare, with only a small handful of San Francisco minted coins known. Second, the copper 1943 error cents have been well hyped since 1943. A third reason is the condition. The particular 1943 S copper cent was graded as MS62BN making it the finest known. A fourth reason is Bob Simpson himself. Simpson now has the best known copper coin from each mint in 1943. His AU version of the 1943 S is now on the trading block. He has the only known 1943 S copper cent. Had Simpson not had the goal of assembling this collection, the coin would not be worth as much.<br />
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In 1944, the mint returned to producing Lincoln cents out of copper. A small number of steel coins were struck in error. Simpson has an example of each of these as well.<br />
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And So, Dr. Peter Planchet tips his hat to Bob Simpson on the tremendous accomplishment of assembling the finest collection of the 1943 coppers. Congratulations!Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-420263328934355251.post-81791808077821100812012-09-10T18:03:00.001-07:002012-09-10T18:05:29.559-07:00Romney vows to save In God We Trust on coins<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRYwNkgqM5CZx8T4dsAXiMmvvmil9-fl2DDgB97bPz4klsXDkx_L7hhDlZsOXCAqkCOb0u53JeTXLf2Y3SRKJnKNoUPNEFnCfEnRwcSD8e37blD924T4CXIp3d6EKzBMMJjHhNx9HEGjg/s1600/jefferson-nickel.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="315" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRYwNkgqM5CZx8T4dsAXiMmvvmil9-fl2DDgB97bPz4klsXDkx_L7hhDlZsOXCAqkCOb0u53JeTXLf2Y3SRKJnKNoUPNEFnCfEnRwcSD8e37blD924T4CXIp3d6EKzBMMJjHhNx9HEGjg/s320/jefferson-nickel.jpg" width="320" /></a></div>
With the presidential campaign in full swing, it is hard to believe that there had been absolutely no discussion about <a href="http://www.peterplanchet.com/">US coin </a>policy. That changed yesterday when Mitt Romney at a campaign rally in Virginia Beach stated "I will not take God off our coins." His reference, of course, is to our motto "In God We Trust," which appears on all US coins. <br />
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Not to be outdone, the Obama campaign quickly responded by stating that "Romney’s implication that Democrats ever suggested removing religious references from the currency was extreme and untrue."<br />
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I have written about the motto <a href="http://www.peterplanchet.com/twocents.html">In God we Trust on my website</a> and have spoken about <a href="http://www.youtube.com/watch?v=Rjgb10J_GAE">In God We Trust on youtube</a>. Many Christians have objected to the motto including Teddy Roosevelt who stated, "My own feeling in the matter is due to my very firm conviction that to put such a motto on coins, or to use it in any kindred manner, not only does no good but does positive harm, and is in effect irreverence, which comes dangerously close to sacrilege."<br />
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As I have said before, I know of no church service where the minister says "Let us pray. Please take out your Jefferson nickel." Do Mr. Romney and Mr. Obama really need the motto to practice their religion? Or are they merely trying to score political points.<br />
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We now know the Romney and Obama position on "In God We Trust." Hopefully in the near future, we will learn their views on other coin features such as "e pluribus unum" or the reeded edge. <br />
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What do you think? Please comment!Unknownnoreply@blogger.com8tag:blogger.com,1999:blog-420263328934355251.post-11167810741608658052012-08-12T19:06:00.001-07:002012-08-12T19:06:08.409-07:001.84 million for the 1873CC dime!<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhlzaUPFQ6-pE8e2HqnGtUx2lgP07U5N93wQEfOB4mATvPQe0RzIgEH0ROkUrpIRIhsbSuqV_hytASGNz6m3hPhAuYoe_Q7m8N72JBIT7C0K-Sv-pIEXGkGvUcRYlinKkJY4niK7PJryug/s1600/1873-cc.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="159" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhlzaUPFQ6-pE8e2HqnGtUx2lgP07U5N93wQEfOB4mATvPQe0RzIgEH0ROkUrpIRIhsbSuqV_hytASGNz6m3hPhAuYoe_Q7m8N72JBIT7C0K-Sv-pIEXGkGvUcRYlinKkJY4niK7PJryug/s320/1873-cc.jpg" width="320" /></a></div>
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Only one person in the world can have a complete set of United States coins. And the key coin of all is the 1873 CC "no arrows" dime -- only one of which is known. In 1873, the Carson City mint struck 12,400 such coins. But soon after striking, the weight of the dime was altered. The coins were to be melted and replaced by a slightly different version of the 1873 dime which contained arrows around the date, indicating the change in weight. Only one specimen seems to have escaped the melting pot. The unique 1873 CC "No arrows" dime has just been auctioned off in Philadelphia for 1.84 million dollars. </div>
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As for the <a href="http://peterplanchet.com/seatedlibertycoins.html">seated liberty series</a> itself, I, along with most collectors, find the series somewhat dull. I have always admired those collecting the series by date and mint. And for all of the collectors except the one who purchased this dime, there will forever be an empty space in the album.</div>
<br />Unknownnoreply@blogger.com3