On the first official working day of the new administration, I received the following from the U.S. Mint Office of Corporate Communications: Dave Motl will serve as Acting Principal Deputy Director until the new Administration selects the individual(s) who will lead the Mint going forward. (Mr. Motl previously was serving as Chief Administrative Officer. ) […] Full article at the source>
January 23, 2017 in ANA (American Numismatic Association), Coins, Collecting, Competition, Education, News, Numismatic Societies and Clubs, Numismatica, Numismatics, PNG Professional Numismatists Guild, Press Releases, Scholarships, Young Collectors
For immediate release
January 23, 2016
News media contact:
Robert Brueggeman for PNG, (951) 587-8300
PNG 2017 YN Scholarship Competition Announced
(Temecula, California) — The Professional Numismatists Guild (www.PNGdealers.org) will provide a scholarship to a deserving young numismatist (YN) to attend one of the six-day sessions of the 2017 American Numismatic Association (www.money.org) Summer Seminar in Colorado Springs, Colorado.
“This is the 13th consecutive year of PNG YN scholarships for the popular, annual ANA educational programs. The PNG scholarship will cover airfare, tuition for one of the two week-long Summer Seminar sessions, meals and five nights of dormitory accommodations on the campus of Colorado College, site of the ANA headquarters,” said PNG Executive Director Robert Brueggeman.
“All young numismatists between the ages of 13 and 22 are eligible to enter and are cordially invited to apply for the scholarship. Entrants must submit a short essay outlining why they should be chosen as the 2017 scholarship recipient. The deadline for receipt of the entries is Thursday, April 13, 2017,” explained Brueggeman.
Entries must include the applicant’s name and contact information. The essays can be sent by email to info@PNGdealers.org or by mail to the PNG Executive Director, 28441 Rancho California Road, Suite 106, Temecula, CA 92590.
The two separate 49th Annual ANA Summer Seminar six-day sessions will be held Saturday, June 17, to Thursday, June 22, and from Saturday, June 24, to Thursday, June 29, 2017. Participants ranging from teenagers to seniors take class instruction on specific coin and paper money collecting topics or the hobby’s technical and business aspects. Additional information about the ANA Summer Seminar can be found on the ANA website at www.money.org/summer-seminar.
“The PNG’s generous offer to provide a Summer Seminar scholarship to a deserving young numismatist not only supports the ANA mission of providing numismatic education but also invests in the future of numismatics — our YNs,” said ANA Executive Director Kimberly Kiick. “We’re most appreciative of the Professional Numismatists Guild for their investment in the hobby and their support of the ANA.”
“The money to pay for the annual PNG YN Scholarship is administered from PNG’s Gerald Bauman Memorial Fund. Bauman, who died in 2001, served for many years as a prominent coin dealer with Manfra, Tordella & Brookes in New York City,” explained PNG President Dana Samuelson.
The PNG is a nonprofit organization composed of many of the top rare coin and paper money dealers in the United States and six other countries. PNG member-dealers must adhere to a strict Code of Ethics in the buying and selling of numismatic merchandise. For additional information about PNG, visit online at www.PNGdealers.org or call (951) 587-8300.
January 20, 2017, marks the end of the Presidency of Barack Obama, the 44th President of the United States. At noon the 45th president will be inaugurated. Also, as of noon, Obama’s appointments to Executive Branch positions will resign from their position to be filled by the new president’s appointment. Of the people resigning are […] Full article at the source>
Coin Valuation is a very tricky subject
Valuing coins has become ever so difficult. Today, I cringe every time I see Collectors Universe Values (which are supposed to be full retail), the Gray Sheet (which thinks its retail but is pure wholesale), and auction prices (in my opinion, they are one of the few accurate sources for information-IF you understand them). So what the collecting public has to go by is a cluttered mess of pretty much inaccuracies.
I have yet to see any one entity that reports prices be fully up to date-at least for the kinds of coins I deal… Full article at the source>
Source: Legend Numismatics Hot Topics
Last we heard from Ellis, he resigned from the Board of Governors during the time the ANA was attempting to reach a settlement with former ANA Executive Director Larry Shepherd. According to the quote from ANA President Walt Ostromecki, “[Mike] realized he had made a mistake and chose to step down from the board.”
Not so fast…. Mike made more than just a mistake. In my previous reporting on the matter, I wrote:
A source speaking on the condition of anonymity as reported that Ellis allegedly had worked behind the scenes against Shepherd to rally ANA employees to work against Shepherd in order to create a hostile working environment for Shepherd. The move was allegedly designed to make Shepherd look incompetent in order to get him fired.
According to my notes, following that blog post I was contacted by another source that not only confirmed the story but also said that Ellis did the same thing against Jeff Shevlin.
It has been confirmed by another source that Ellis was approached by the Executive Committee and ANA General Counsel Hollie Wieland about these allegations. The source said that Ellis was presented with evidence of contact with ANA staff which is a violation of ANA policy. Ellis agreed to resign from the ANA Board of Governors rather than face the scrutiny of damaging testimony that would occur during depositions. This opened the door for a settlement with Shepherd.
Although this has been reported in the past it is important to bring all facts to light since Ellis has declared his candidacy to be President of the ANA.
As part of Harper’s reporting, Ellis “objects to the role of the present legal counsel. He wants a new one.” Ellis claims, “She’s making a killing off us breathing down our neck 24/7.”
I have met and spoken with Wieland in the past (not recently). She is an attorney with an attorney’s attitude toward her client, the ANA. While there is not a lot of collective like for attorneys, I am not aware of any problems that she has created for the ANA. In fact, her ability to help unwind the ANA from the legal troubles that Ellis was likely a contributor says more about her competence.
When Ellis cites his troubles with the ANA, he mentions problems with Wieland. Given his history, there is little doubt of his contempt. However, it does not appear to be shared by the rest of the ANA.
Because of his past transgressions while a member of the Board of Governors that required his resignation, Mike Ellis should never be president of the ANA!
I had thought that current Vice President Gary Adkins would run for the president’s position. Adkins has said that he may run but has not decided. While I think Gary Adkins would make a great president for the ANA, something has to be done now.
Therefore, I am preparing to run for President of the American Numismatic Association. Although there are members more qualified than I am, I am more qualified than Ellis especially in the area of ethics and temperament. Should a more qualified candidate submit their paperwork to run for ANA President, I will withdraw from the race.
For the past seven years I have bought and sold coins almost exclusively via the Internet, preferring estate auctions on Proxibid over other venues. I even created a blog, no longer active, called Proxiblog.org, to monitor the company. I still prefer Proxibid over other portals, even eBay—too much competition there, too little oversight, and too few actual auctioneers.
But even auction portals like Proxibid may be falling behind technological trends, and that can spell dire consequences for the hobby.
Before 2011, I bought coins almost exclusively from dealers and coin shows. When I started bidding on Proxibid, I discovered that I could… Full article at the source>
Numismatic products like the America the Beautiful quarters could bring a significant amount of revenue to the U.S. Postal Service. Local post offices, like this one in Boling, Texas, would all stand to benefit from the income, wherever the coins were sold. (Wikipedia photo by Djmaschek)
A few days ago, a postal carrier in Pocatello, Idaho, penned a letter to the editor of the Idaho Press-Tribune. In it, he noted that 2017 would once again be a challenge for the U.S. Postal Service. He cautioned that privatizing the USPS would create problems like reducing service to remote rural areas; …Full article at the source>
Legend Numismatics wishes to thank everyone for their concerns. We are all safe and sound now.
We were never in harms way, however we were at the location of a suspected second shooting in a garage. It was unnerving. Swat teams all around us.
Due to the airports closure, we will not post a Market Report until late Sat or sometime Sunday. The same for most NEWPS
Source: Legend Numismatics Market Report
(Littleton, New Hampshire)—Littleton Coin Company, one of America’s largest coin and currency dealers, today announced the formation of an Employee Stock Ownership Plan (ESOP). Owner David Sundman and his family have sold all of their stock in the company to the ESOP, making Littleton Coin a 100% employee-owned company effective January 1, 2017. Mr. Sundman will continue in his current role as President of the Company.
What is an ESOP?
An ESOP is a type of employee benefit plan most commonly used to transfer ownership of successful, privately owned companies as the owners approach retirement age. This supports job security for the… Full article at the source>
A.N.G. selling on MA-Shops
Athens Numismatic Gallery is a single ownership business from Greece, based in central Athens.
This company deals in World coins from 1700 and modern Greek coins from 1830.
“I have an extensive 20 years experience in World Numismatics having had the opportunity to work abroad (London UK) and made great friends along the way, the likes of good Numismatists such as Stephen Fenton and the late Dimitri Loulakakis but it all began with my late father who operated for 50 years locally.
Working with him I learned the tools of the trade and acquired knowledge of GB numismatics… Full article at the source>
Source: Ma-Shops Blog (Coins and more)
I have a personal rule that I do not criticize anyone’s lifestyle choices or non-choices. It is not a matter of tolerance but one of respect because if I want acceptance for what I do then it is not my place to judge someone else. But I draw the line where tolerance is pushed beyond […] Full article at the source>
While trying to find the right words to describe 2016 and the anticipation for 2017, I came across a quote from an 1898 speech by British statesman Joseph Chamberlain, father of Prime Minister Neville Chamberlain: I think that you will all agree that we are living in most interesting times. (Hear, hear.) I never remember […] Full article at the source>
Happy New Year! As we begin a new year, we should look forward to better times for our hobby, our nation, and our world. I wish you and yours a Happy and Healthy 2017 and hope that you find the key coin of your dreams! Images courtesy of the U.S. Mint. Full article at the source>
December 31, 2016 in Auctions, Coin Shows, Coins, Coins for sale, Collecting, Conventions, Education, Entertainment, Events, Fun, Investing, News, Numismatic Societies and Clubs, Numismatica, Numismatics, Rare Coins, Seminars, USA Coins, World Coins
Traditionally, the FUN show held in Florida during the first few weeks of the new year is the location of the year’s first major auctions, and 2017 is no different. In conjunction with the show, Heritage Auctions will offer several thousand lots of U.S. and world coins and currency in both floor and online auction sessions. While there are too many highlights to cover all of them in a single article, we’ll still attempt to showcase some of the rarest and most exciting offerings that will come to the auction block in Fort Lauderdale, where the show is held this Full article at the source>
Last I reported, I had gone to Philadelphia to see the students at Juniata Park Academy that we raised money to visit the U.S. Mint and Federal Reserve. I did make it to the school despite the flat tire and other problems my Chevy Avalanche experienced along the way. We did have a one-hour visit […] Full article at the source>
December 27, 2016 in Clubs and Associations, Coins, Collecting, Investing, News, Numismatic Societies and Clubs, Numismatica, Numismatics, PNG Professional Numismatists Guild, Press Releases, Rare Coins, USA Coins
For immediate release
December 27, 2016
News media contact:
Donn Pearlman, for Professional Numismatists Guild
(702) 868-5777 Donn.Pearlman@gmail.com
“Trump Effect” Lifts 2016 U.S. Rare Coin
Market, Reports Professional Numismatists Guild
(Temecula, California) – The optimism that disposable income may increase with the election of Donald Trump lifted the United States rare coin market in the last two months of 2016, according to the Professional Numismatists Guild (www.PNGdealers.org). The PNG, a non-profit organization composed of many of the country’s top rare coin and paper money experts, conducts an annual compilation of results of major auctions of U.S. rare coins.
“After several years of higher prices and the spectacular sales of several legendary coin collections, the U.S. rare coin market softened in 2016. But after the November elections, there was a notable increase in demand for high-quality rare coins, including those priced at $100,000 or more,” said PNG President Dana Samuelson.
The aggregate prices realized for U.S. coins sold at major public auctions in 2016 totaled $341,815,542. The totals were $439 million in 2015; $536 million in 2014; and $393 million in 2013. One firm, Heritage Auctions, accounted for $192 million of the 2016 total. All totals include the buyer’s premium to reflect the actual, full prices paid by winning bidders.
“In our annual survey of major numismatic auction firms, the consensus estimate is that the overall U.S. rare coin market for auctions and direct sales in 2016 was about $4 billion, not including bullion coins, such as gold, silver or platinum American Eagles, and not including sales by the United States Mint,” explained Samuelson.
“Over the decades the U.S. rare coin market moves in cycles, and the long-term trend is up. We believe 2017 will be an opportunity for astute collectors to be buying,” said Robert Brueggeman, PNG Executive Director.
There were four coins that sold for $1 million or more at auction in 2016 compared to a record-setting 17 during 2015. A fifth coin crossed the million dollar mark in a private sale in late 2016, and although the purchase price was not disclosed, it was reported the coin is insured for $8 million for a planned public display in early 2017.
The four million-dollar coins sold at public auction in 2016 are:
1894 San Francisco silver dime, graded PCGS Proof 66, $1,997,500, sold by Heritage Auctions.
1879 Quintuple Stella (pattern $20 denomination gold coin), PCGS Proof 64 Deep Cameo, $1,888,000, sold by Legend Rare Coin Auctions.
1833 Caped Head Left, Large Date Half Eagle ($5 denomination gold coin), PCGS Proof 67, $1,351,250, sold by Stack’s Bowers Galleries.
1795 Draped Bust silver dollar, PCGS Specimen 66, $1,057,500, sold by Stack’s Bowers Galleries.
The auction firms that responded to the PNG survey are: Bonham’s; Ira & Larry Goldberg Auctioneers; GreatCollections Coin Auctions; Heritage Auctions; David Lawrence Rare Coins; Legend Rare Coin Auctions; Scotsman Coin & Jewelry; and Stack’s Bowers Galleries.
The Professional Numismatists Guild was founded in 1955. PNG member-dealers must adhere to a strict code of ethics in the buying and selling of numismatic merchandise.
For a copy of “The Pleasure of Numismatics,” an informative, ten-page illustrated educational booklet about collecting rare coins, paper money, tokens and medals, send $1 to: Professional Numismatists Guild, 28441 Rancho California Road, Suite 106, Temecula, California 92590.
For additional information about the PNG and a complete list of member-dealers, visit online at www.PNGdealers.org or call the PNG headquarters in Temecula, California at (951) 587-8300.
It’s been quite a year of new coins from all over the world, with the introduction of great numismatic and coin-collecting programs and many popular series that have remembered anniversaries and events such as the ones which took place during the First World War.
This year alone, the 2016 Rio Olympics were admirably staged in Brazil. Canada’s 150th anniversary of confederation, to be celebrated in 2017, was launched this year with new coins and a design competition for circulation coins. Finland’s centennial of independence is about to become a national celebration in this Northern European country. An eight-year series featuring all Full article at the source>
I recently found out that I have been wrong about the employment status of Rhett Jeppson, the current Principal Deputy Director of the U.S. Mint. Previously, I said that Jeppson is a member of the Senior Executive Service, the government executive program. He is not. Jeppson is was appointed by the President of the United […] Full article at the source>