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October 2017 Numismatic Legislation Review

November 1, 2017 in Blogs, Coins, Collecting, Education, History, Legal, Legislation, News, Numismatica, Numismatics, Opinion, Politics, US Government, USA Coins

By: Scott Barman Coin Collectors Blog (CoinsBlog.ws)

It seems that when I write these posts about the monthly numismatic-related legislation reviews, I note how frustrating it is to follow the workings of Congress. Even though I work as a part-time political analyst and have some contacts I can leverage, even the insiders cannot explain why things happen. Let’s look at recent legislation. […] Full article at the source>

Source: Coin Collectors Blog (CoinsBlog.ws)

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Congressmen press the U.S Mint for action on counterfeit gold and silver coins

October 31, 2017 in Coins, Counterfeit, Education, Fake Coins, Gold Eagles, History, News, Numismatica, Numismatics, Opinion, Precious Metals, Silver, Silver Coins, US Government, US Mint, USA Coins

By: Press Release News.CoinUpdate.com (Coin Update News)

Washington, DC (October 29, 2017) — Congressmen Alex Mooney (R-WV) and Frank Lucas (R-OK) delivered a formal letter to the United States Mint and the Secret Service on Friday, urging aggressive action on the growing problem of high-quality counterfeits of U.S. precious-metals coins entering the country from China and elsewhere.

“Enclosed herewith is a 1995 1-ounce gold American eagle coin, carrying a face value $50 and ostensibly minted by the U.S. Mint,” Mooney and Lucas wrote. “You are free to keep it, as it’s a worthless tungsten fake.”

As members of the House Financial Services subcommittee, which oversees the U.S. Mint, Congressmen… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Design of Bob Dole Congressional Gold Medal approved at last Wednesday’s CCAC meeting

October 31, 2017 in Education, Gold, History, Medals, News, Numismatica, Numismatics, Precious Metals, US Government

By: Brandon Christopher Hall  News.CoinUpdate.com (Coin Update News)

Last Wednesday, October 25, 2017, the CCAC held a meeting to discuss the design of the upcoming Congressional Gold Medal to honor Bob Dole. Bob Dole is a lawyer, former congressman of Kansas, former Republican Leader of the United States Senate, and 1996 presidential candidate who is renowned for his valiant service in World War II. In 1942, he entered the United States Army’s Enlisted Reserve Corps, rising to second lieutenant in the 10th Mountain Division. In April 1945, while fighting southwest of Bologna, Italy, in the Apennine Mountains, Dole was grievously injured in the upper right shoulder by German… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Numismatics: The road ahead

October 28, 2017 in Coins, Collecting, Education, Events, History, News, Numismatic Societies and Clubs, Numismatica, Numismatics, US Government, US Mint, USA Coins

By: Louis Golino News.CoinUpdate.com (Coin Update News)

On October 16-17, the U.S. Mint held its second annual numismatic forum at its headquarters in Washington, DC, bringing together representatives of the Mint, the coin industry, the numismatic media, members of the Citizens Coinage Advisory Committee, and other stakeholders in the numismatic community. This year’s theme was “Numismatics: The Road Ahead.”

Like last year’s meeting, the latest forum was designed to foster greater dialogue among the various stakeholders; discuss implementation of ideas discussed at the 2016 forum; provide information about forthcoming products and improvements and innovations in how the Mint does business; and elicit suggestions from participants about how… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Diehl & Moy endorse change

October 18, 2017 in Blogs, Cents, Coins, Collecting, Dollar Coins, Education, History, News, Numismatica, Numismatics, Opinion, US Government, US Mint, USA Coins

By: Scott Barman Coin Collectors Blog (CoinsBlog.ws)

Could the recent cyber attacks and growing severity of cybersecurity issues become the motivation for Congress to vote to reform United States currency? According to Philip Diehl and Edmund Moy, former Directors of the U.S. Mint, the discussion as to remove the cent and paper dollar from circulation should be part of the current budget […]Full article at the source>

Source: Coin Collectors Blog (CoinsBlog.ws)

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Former Mint Director David J. Ryder nominated to return to the post

October 6, 2017 in Collecting, News, Numismatica, Numismatics, US Government, US Mint

By: Coin Update News.CoinUpdate.com (Coin Update News)

The White House announced nominations today to fill a number of vacant government positions, including that of director of the U.S. Mint. For that role, it has nominated David J. Ryder. The Mint, which has been without a formal director since the departure of Edmund Moy in 2011, is currently under the authority of Acting Principal Deputy Director David Motl.

The 38th Mint director served from 2006 until the start of 2011, during which time he saw the institution through the crisis of the collapse of the housing market and the worldwide Great Recession. A few days after his January Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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September 2017 Numismatic Legislation Review

October 2, 2017 in Blogs, Coins, Collecting, Education, Investing, Legal, Legislation, News, Numismatica, Numismatics, US Government, US Mint, USA Coins

By: Scott Barman Coin Collectors Blog (CoinsBlog.ws)

Trying to follow the inner workings of politics is more frustrating than what you see on television news. Part of following the inner workings of Congress is to try to figure out what Congress will do next is not only understanding where legislation is in the process, what Congress calls “regular order,” but it also […]Full article at the source>

Source: Coin Collectors Blog (CoinsBlog.ws)

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Trump and the Fed: Changes may be coming

September 18, 2017 in Blogs, Collecting, Education, History, News, Numismatica, Numismatics, Opinion, Politics, US Federal Reserve, US Government

By: Mint News Blog Mint News Blog (http://mintnewsblog.com)

Most people know that a president able to appoint several Supreme Court justices during his tenure will have an impact on our country that far outlasts their presidency. However, presidents who have the chance to make major changes to the Federal Reserve’s board of governors can also have a disproportionate impact.

Due to a combination of the facts that Federal Reserve Chair Janet Yellen’s term expires in January and that a seat on the Fed’s board of governors opened after President Trump took office; another member’s term expired; and Vice Chair Stanley Fischer unexpectedly decided to retire for personal reasons (as… Full article at the source>

Source: Mint News Blog (http://mintnewsblog.com)

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OIG Probe into Mnuchin using government resources expands

September 15, 2017 in Blogs, News, Numismatica, Numismatics, Opinion, Politics, US Government

By: Scott Barman Coin Collectors Blog (CoinsBlog.ws)

Secretary of the Treasury Steven T. Mnuchin seems to think his position with the government affords him perquisites to be paid by the taxpayers. Last June, Mnuchin married actress Louise Linton at the Andrew W. Mellon Auditorium located near the National Mall. Vice President Pence officiated the ceremony. While that was old news, ABC News […]

Full article at the source>

Source: Coin Collectors Blog (CoinsBlog.ws)

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1783-Dated Coin Identified as First Struck by the U.S. Government to Make First Public West Coast Appearance

September 1, 2017 in Antique Coins, Coin Shows, Coins, Collecting, Education, History, Numismatica, Numismatics, Opinion, Press Releases, Rare Coins, US Government, USA Coins

For immediate release
August 31, 2017

News media contact:
David McCarthy
Office: 415-435-2601
Mobile: 415-847-6305

1783-Dated Coin Identified as First Struck by the U.S. Government to Make First Public West Coast Appearance

 

The Plain Obverse Nova Constellatio Quint will make its first public West Coast appearance during the Long Beach Expo.

The Plain Obverse Nova Constellatio Quint will make its first public West Coast appearance during the Long Beach Expo.

(Long Beach, California) August 31, 2017 – After its showcase in August’s World’s Fair of Money, a coin that experts are hailing as the very first coin made by the United States will be displayed during the 2017 Long Beach Expo (www.LongBeachExpo.com)in Long Beach, CA, September 7- 9.

This marks the first public West Coast appearance for the coin, which is now insured for $5 million.

According to researcher David McCarthy of Kagin’s, Inc., there is overwhelming evidence that this is the very first coin ever officially struck by authority of the United States government, a finding hailed by renowned coin expert and author Jeff Garrett as “one of the most exciting developments in modern numismatics.”

The coin is known as the “Plain Obverse Nova Constellatio Quint.” It was once in the hands of one of the USA’s Founding Fathers, Alexander Hamilton, and it is the historic ancestor of the dollar as well as every coin in the Western world using a decimal monetary system, according to McCarthy.

“Although the coin was discovered in 1870, it was misattributed. We now have compelling evidence that it is, ‘the first that has been struck as an American coin,’ as described in the April 2, 1783 diary entry of Founding Father Robert Morris, the government’s first Superintendent of Finance and a signer of the Declaration of Independence,” stated McCarthy.

“The Quint and a subsequent set of coins were created in Philadelphia in April of 1783 under authority of the Treasury some nine years before the next coins would be struck by the U.S. government.  It would have been valued at 500-units in a proposed system that would range from 5 to 1,000 units,” McCarthy explained.

During the 18th Century, several states and private individuals manufactured coins, but this is the first coin that was struck and paid for by the U.S. government, according to McCarthy’s research, which more than a dozen other early American coin experts support.

Following the Civil War, the coin surfaced in New York City, and passed through the hands of some of the 19th Century’s greatest collectors before entering the possession of Johns Hopkins University, where it resided until 1979.

Kagin’s acquired the coin at an auction in 2013.  McCarthy began researching it through the Journals of Continental Congress, the writings of Founding Fathers Robert Morris and Thomas Jefferson, and forensic evidence found on the coins themselves, identifying it as the coin referred to by Morris, the Nation’s first Superintendent of Finance as, “the first that has been struck as an American coin.”

The coin can been seen during the Long Beach Coin, Currency, Stamp and Sports Collectible Expo, Thursday, September 7, through Saturday, September 9. For complete show hours, visit www.LongBeachExpo.com.  

Admission is $8 for adults, $4 for seniors and children aged 8 to 16; however, free admission coupons are available in advance with promo code: EXPOPR on www.LongBeachExpo.com.  

        For additional information, including the schedule of events and a list of attending dealers, visit online at www.LongBeachExpo.com, call the Long Beach Expo at 888-743-9316 or email at LBExpo@collectors.com.

###

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Fort Knox opened to civilians for the first time in 40 years

August 22, 2017 in Blogs, Bullion, Education, Events, Gold, Gold Bullion, History, Investing, News, Numismatica, Numismatics, Politics, Precious Metals, US Government

By: Mint News Blog Mint News Blog (http://mintnewsblog.com)

For much of the country, yesterday was “eclipse day.” But at Fort Knox, the big yellow wasn’t being covered up—it was being revealed: for the first time in 40 years, the U.S. Bullion Depository there was opened to civilians.

The Washington Examiner reported that yesterday (August 21), at the behest of the treasury secretary, Steve Mnuchin, the depository was to be opened to a delegation of politicians. The Washington Post later reported that the party included Mnuchin, Senate Majority Leader Mitch McConnell, U.S. Representative Brett Guthrie (R-KY), Kentucky’s governor, Matt Bevin, and several journalists.

McConnell said that the idea of… Full article at the source>

Source: Mint News Blog (http://mintnewsblog.com)

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Learning from History using Numismatics

August 18, 2017 in Blogs, Coins, Collecting, Commemorative, Education, Events, History, Numismatica, Numismatics, Opinion, US Government, US Mint, USA Coins

By: Scott Barman Coin Collectors Blog (CoinsBlog.ws)

One of the most popular aphorisms was written by philosopher and essayist George Santayana: “Those who cannot remember the past are condemned to repeat it.” Although it was one line in Volume 1 of his five volume The Life of Reason, the statement is so profound that it stands out as a seminal statement. Events this past week in Charlottesville, Virginia are forcing us to heed Santayana’s warning and look at our history to understand how we got here and why. Regardless of how anyone feels about the issues behind the divisions we cannot condone the use of violence to try to force opinions on others. This is what was tried in the past, which is why we have to learn from it because it seems to repeat itself time and again.[…]

Full article at the source>

Source: Coin Collectors Blog (CoinsBlog.ws)

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Lack of leadership at the U.S. Mint

August 13, 2017 in Blogs, Coins, Collecting, History, Numismatica, Numismatics, Opinion, Politics, US Government, US Mint, USA Coins

By: Scott Barman Coin Collectors Blog (CoinsBlog.ws)

Following the sell out of the 225th Anniversary Enhanced Uncirculated Coin Set, a few readers asked if I was going to post a comment. I declined to let the rest of the industry have this discussion. I would rather have a discussion about a different issue related to the U.S. Mint: the lack of leadership. […]

Source: Coin Collectors Blog (CoinsBlog.ws)

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Kagin’s Researcher Pinpoints  1783 Plain Nova Constellatio Quint as First Official USA Coin Struck Historic Coin Will Be Exhibited at ANA Denver World’s Fair of Money, Aug. 1 – 5

August 1, 2017 in ANA (American Numismatic Association), Antique Coins, Art, Coins, Collecting, Education, Entertainment, Events, History, News, Numismatic Societies and Clubs, Numismatica, Numismatics, Rare Coins, Reference, US Government, USA Coins

News media contacts:
David McCarthy

Office: 415-435-2601  Email: David@kagins.com
Donald H. Kagin, Ph.D.

Office: 415-435-2601  Email:Don@kagins.com

Kagin’s Researcher Pinpoints  1783 Plain Nova Constellatio Quint as First Official USA Coin Struck

Historic Coin Will Be Exhibited at ANA Denver World’s Fair of Money, Aug. 1 – 5

Authorized by Congress, the unique 1783 plain obverse Nova Constellatio “Quint” silver coin had a value of 500 units in a proposed but later abandoned early American decimal monetary system that would have ranged from 5 to 1,000 units. Photo credit: Image courtesy of PCGS.com

Authorized by Congress, the unique 1783 plain obverse Nova Constellatio “Quint” silver coin had a value of 500 units in a proposed but later abandoned early American decimal monetary system that would have ranged from 5 to 1,000 units.
Photo credit: Image courtesy of PCGS.com

(Tiburon, California) August 1, 2017 – David McCarthy, senior numismatist at Kagin’s, Inc. of Tiburon, California (www.Kagins.com), has pinpointed the 1783 plain obverse Nova Constellatio Quint pattern (Breen-1102, W-1830) as the first coin officially struck by authority of the United States government, a finding hailed by another U.S. rare coin expert as “one of the most exciting developments in modern numismatics.”

Results of McCarthy’s research on the unique, early American experimental silver coin, that once was in the hands of one of the USA’s Founding Fathers, Alexander Hamilton, are in the August 2017 edition of “The Numismatist,” the official journal of the American Numismatic Association (www.money.org).

Now insured for $5 million, the historic ancestor of the dollar as well as every coin in the western world using a decimal monetary system, will be publicly displayed at the Kagin’s booth, #700, during the ANA 2017 World’s Fair of Money (www.WorldsFairofMoney.com) in Denver, Colorado, August 1- 5.

“It’s a national treasure that was hiding in plain sight until all the pieces of the puzzle recently came together,” said Donald H. Kagin, Ph.D., President of Kagin’s.

“Although the coin was discovered in 1870, it was misattributed. We now have compelling evidence that it is, ‘the first that has been struck as an American coin,’ as described in the April 2, 1783 diary entry of Robert Morris, a signer of the Declaration of Independence and the U.S. government’s first Superintendent of Finance,” explained McCarthy.

“The Quint and a subsequent set of coins were created in Philadelphia in April of 1783 under authority of the Treasury some nine years before the next coins would be struck by the U.S. government.  It would have been valued at 500-units in a proposed system that would range from 5 to 1,000 units,” McCarthy said.

“This was the first use of the vital and enduring decimal system to be established in the western world,” stated Kagin.

During the 1770s and 1780s several states and private individuals manufactured coins, but this is the first coin that was struck and paid for by the U.S. government, according to McCarthy’s research, which a dozen other early American coin experts agreed with before he submitted it for publication.

After examining McCarthy’s research, early American coins researcher and writer John Dannreuther of Memphis, Tennessee, the American Numismatic Association’s 2007 Numismatist of the Year, summed up the findings:

“There is a first United States coin, as we have written evidence (in the April 2, 1783 diary entry of Robert Morris, U.S. Superintendent of Finance) that one was delivered:

‘I sent for (metallurgist) Mr. (Benjamin) Dudley who delivered me a Piece of Silver Coin being the first that has been struck as an American Coin.’

“The only coin that logically could be this coin is the Plain Obverse Quint.

“There are numerous things that bring us to this conclusion, the first being that “Nova Constellatio” is not found on the Plain Legend Quint. One does not remove legends, they are added,” explained Dannreuther.

“Secondly, the number of dies noted in the literature can be made to match only by having one die ground down and reengraved. After overlaying the two Quint types, it became obvious that the Plain Obverse die’s eye matched the with Legend eye. Since this is the highest point of the coin, it is the lowest part of the die, as well as the center, it would be logical to leave a small amount of this area as a starting point for the new die. The rest of the die’s detail was removed by the grinding process, of course.”

“Thirdly, the two Quint dies obviously were engraved by two different hands. Since, we know that the with Legend coins match the other denominations in style, as well as having the “Nova Constellatio” legend, the Plain Obverse has to be the first one – thus, it is the first United States coin,” stated Dannreuther.

American Numismatic Association President Jeff Garrett of Lexington, Kentucky also examined McCarthy’s study prior to publication and stated: “David McCarthy’s research makes a compelling case for the 1783 Nova Constellatio Quint being the ‘First American Coin.’  As such, the historical importance of his research, and the coin, is one of the most exciting developments in modern numismatics!”

Only two examples of the 500-unit coin are known, and each is distinctively different on the front. One has the words, NOVA CONSTELLATIO, Latin for “a new constellation,” while the other example does not have any words. The research demonstrates the coin without the words on the obverse was struck first.

After surfacing in New York City nearly 150 years ago, the coin was carefully preserved in several major collections including Lorin G. Parmelee, S.H. and H. Chapman and Wayte Raymond before becoming part of the Garrett Collection and into the possession of Johns Hopkins University where it resided for much of the 20th century.  Only now, though, has numismatic research brought together evidence that it was the first federal coin made by authority of the U.S. government.

Kagin’s acquired the coin at an auction in 2013 where it was graded PCGS AU53 Secure.  McCarthy began researching it through the writings of Morris and Thomas Jefferson, Continental Congress documents, and forensic evidence found on the coins themselves, and he consulted with other noted experts in early American numismatics.

“While the 1783 Plain Obverse Nova Constellatio Quint is among the most historically significant of all United States coins, it is also one of the most important artifacts in the world,” stated Kagin.  “Nothing defines a nation and its society more than its coinage. Just like great documents such as The Magna Carta or The Declaration of Independence established fundamental principles and tenets for western society, so does coinage reflect a nation’s most important ideals, becoming a primary source of communication for a nation’s beliefs.”  

“By examining the first coin of the United States and the new decimal monetary system that it ushered in, we gain significant insights to the thinking of America’s Founding Fathers concerning what kind of nation they wished to establish,” he continued.

Kagin said the coin’s inscriptions and symbols contain the most important aspects of our fledging nation:

On the Obverse the central devices are:

  • The Eye of Providence—symbolizing the creator’s approval of our nation.
  • A circle of 13 stars –a theme which has endured for 240 years—as an obvious reference to the new constellation formed by the original 13 colonies.

The Reverse central inscription includes:

  • “U.S.” as it proclaims the name of our country for all the world to acknowledge.

This is followed by the denomination—in this case, 500 units or a Quint.  Along with the date, two of the most fundamental and defining issues for Americans then and today are prominently inscribed in Latin so all nations could understand: LIBERTAS (Liberty) and JUSTITIA (Justice).

“This coin, struck in the precious metal silver, was also the very first artifact to present our nation’s new decimal system—in fact, the first use of such a vital and enduring system to be established in the western world,” concluded Kagin.

Kagin and McCarthy made international headlines in 2014 when they assisted an anonymous California couple who discovered the “Saddle Ridge Hoard,” nearly $10 million of 19th century U.S. gold coins buried in rusting tin cans.

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PMANA requests House Committee on Ways and Means to bring fairness to the taxation of precious-metal coins and bullion

July 28, 2017 in Blogs, Bullion, Coins, Education, Gold, Gold Bullion, Gold Coins, History, Investing, Legislation, News, Numismatic Societies and Clubs, Numismatica, Numismatics, Politics, Precious Metals, Press Releases, Silver, Silver Coins, US Government, US Mint, USA Coins

By: Mint News Blog Mint News Blog (http://mintnewsblog.com)

The following press release is courtesy of the Precious Metals Association of North America (PMANA).


(Washington, D.C.)—Discussions surrounding tax reform have heightened in recent weeks, and the Precious Metals Association of North America (PMANA) has offered testimony before the House Committee on Ways and Means asking for a change in the Internal Revenue Code that would bring fairness to precious-metals bullion and coin investors, while also creating smart investment opportunities for Americans.

Since 1982, gains made on precious-metals bullion have been taxed at the ordinary income rate due to language defining such bullion as a “collectible.” Congress has made numerous attempts to… Full article at the source>

Source: Mint News Blog (http://mintnewsblog.com)

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John F. Kennedy commemorative coin bills introduced

July 28, 2017 in Coins, Collecting, Commemorative, Education, History, Legislation, News, Numismatica, Numismatics, US Government, US Mint, USA Coins

By: Coin Update News.CoinUpdate.com (Coin Update News)

On July 17, companion bills were introduced in the House and Senate authorizing production of commemorative coins to honor the birth centennial of President John F. Kennedy. Since last year (and even earlier), collectors have been watching for a blip on the legislative radar that would signal plans for a Kennedy commemorative; as each month passed with nothing to authorize such a program, they became increasingly vocal in their disapproval. Once Kennedy’s 100th birthday (May 29) was in the rearview mirror, most of the complaints gave way to an unhappy sense of resignation.

The oversight has been all the more glaring… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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North Carolina joins 35 other states with sales-tax exemptions

July 26, 2017 in Coins, Collecting, E-commerce, Education, History, Investing, Legal, Legislation, News, Numismatica, Numismatics, Rare Coins, US Government

By: Press Release News.CoinUpdate.com (Coin Update News)

On Tuesday, July 25, 2017, North Carolina governor Roy Cooper signed into law House Bill 434: Coins/Currency/Bullion Sales Tax Exemption. The law is a complete sales-and-use tax exemption on coins, currency, and precious-metals bullion sales.

“The bill’s author, Representative Dana Bumgardner, coauthors Representative Jeff Collins, Representative Mark Brody, and Representative Mike Clampitt, along with its Senate sponsor, Senator Bill Rabon, championed the bill through the legislature,” said Mitch Hyatt (Hyatt Coin Shop, Charlotte, North Carolina). “North Carolina coin businesses and collectors owe them a debt of gratitude.”

In the fall of 2016, Hyatt started collaborating with the Industry Council for Tangible Assets… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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World War I Commemorative Coin: A Tribute to the Bravery, Actions and Sacrifices of Americans

June 30, 2017 in Coins, Commemorative, Education, History, Legislation, New Releases, News, Numismatica, Numismatics, Press Releases, US Government, US Mint, USA Coins

By: Sharon McPike United States Mint Press Releases/Public Statements

Congress authorized and the President signed into law the World War I American Veterans Centennial Commemorative Coin Act (Public Law 113-212) to “commemorate the centennial of America’s involvement in World War I and honor the over 4 million men and… Full article at the source>

Source: United States Mint Press Releases/Public Statements

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Texas: Home of the first state-run bullion depository in the U.S.

June 20, 2017 in Blogs, Bullion, Gold, Gold Bullion, History, Investing, News, Numismatica, Numismatics, Precious Metals, US Government

By: Mint News Blog Mint News Blog (http://mintnewsblog.com)

The Texas state capitol building, Austin. (Photo by Ed Uthman)

The Texas state capitol building, Austin. (Photo by Ed Uthman)

Lone Star Tangible Assets (LSTA), an Austin-based firm, has signed a five-year contract with the government of Texas to manage the state’s bullion depository, which will be under the authority of the state comptroller general (currently Glenn Hegar).

Prior to the law authorizing the Texas Bullion Depository, such facilities were privately owned, with the exception of the massive depositories of the federal government. They tend to be clustered near the New York financial hub, in part because of COMEX requirements that its member depositories be located within 150 miles of New… Full article at the source>

Source: Mint News Blog (http://mintnewsblog.com)

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Texas Attorney General Issues Gold Coins Consumer Protection Tips

May 22, 2017 in Bullion, Coins, Coins for sale, Collecting, Education, Fake Coins, Gold, Gold Bullion, Gold Coins, Investing, News, Numismatic Crimes, Numismatic Societies and Clubs, Numismatica, Numismatics, Opinion, Precious Metals, Press Releases, PSA, Rare Coins, US Government, USA Coins, World Coins

News media contacts:

Paul Stein, for Universal Coin & Bullion, 409-860-9077
Texas Attorney General’s office, 800-252-8011

Texas Attorney General Issues
Gold Coins Consumer Protection Tips

(Austin, Texas) May 22, 2017 – With input from numismatic experts, the Attorney General of Texas, Ken Paxton, has issued a consumer protection alert about buying and selling gold coins.  

Award-winning rare coins and precious metals writer, Michael Fuljenz, President of Universal Coin & Bullion in Beaumont, Texas, provided continuing consultation to the attorney general’s office on this important consumer alert. Fuljenz, in coordination with other key numismatic industry leaders, offered guidance on consumer protection best practices for precious metals consumers.

The advisory notes that senior citizens make up about 14% of the U.S. population but account for 60% of the callers to the National Fraud Information Center.

Paxton’s advisory cautions consumers and investors: “If coins you bought as an investment would have to double or triple in value before any gain could be realized, you may have been a victim of fraud.”

Entitled “Consumers Should Do Their Research Before and After Investing in Gold Coins,” the advisory emphasizes the crucial importance of working with reputable dealers to help avoid paying too much when buying or receiving too little when selling.  Paxton’s office recommends researching dealers through the Better Business Bureau, the American Numismatic Association, the Professional Numismatists Guild, Professional Coin Grading Service and Numismatic Guaranty Corporation.

“By issuing this important consumer protection advisory, Texas is not only assisting Lone Star state residents but providing nationwide benefits to the public who can access this useful information online.  Attorneys general across the country now also have a template to provide consumer protection advice to their residents about buying and selling gold bullion and gold coins,” said Fuljenz.

Among other tips in the Texas Attorney General’s advisory:

Do not respond to callers not previously contacted. Cold callers often are not registered in Texas to legally telemarket and often try to pressure customers to act quickly.

Do not do business with a dealer who guarantees your purchases are totally safe, will go up in value or can’t go down, stresses government gold confiscation or says he will buy them back for what you paid at any time.

The full consumer protection advisory from Texas Attorney General Paxton is available online and as a printable PDF document at www.texasattorneygeneral.gov/cpd/gold-coins.

Regretfully, due to print limitations, additional buying and selling tips were excluded, said Fuljenz, including avoiding false grading claims, advice about return privileges and urging caution if sellers receive certified money orders or certified checks from unknown buyers because they could be counterfeit.  All ten of the additional consumer protection tips are available online at www.MikeFuljenz.com/goldtips.

At Fuljenz’ request, the following are among the precious metal industry leaders who provided input to him for the advisory. Their names are listed alphabetically with affiliations given only for identification purposes.

Gary Adkins, American Numismatic Association Vice President and former Professional Numismatists Guild President

John Albanese, co-founder of Professional Coin Grading Service, Numismatic Guaranty Corporation and CAC

Doug Davis, Founder of Numismatic Crime Information Center, City Manager and former Police Chief of Pantego, Texas

Beth Deisher, Director of Anti-Counterfeiting for the Industry Council for Tangible Assets and former Editor of Coin World

Terry Hanlon, Dillon Gage Metals President, former PNG President

Jerry Jordan, award-winning investigative reporter and former Texas newspaper editor

Kathy McFadden, ICTA Executive Director

Rick Montgomery, NGC President

Donn Pearlman, public relations consultant, ANA Zerbe Award recipient, former ANA Governor and former journalist/broadcaster

Jay Sheppard, Better Business Bureau Serving Southeast Texas Dispute Resolution Director

Miles Standish, NGC Vice President

Universal Coin & Bullion (www.UniversalCoin.com) President Michael Fuljenz has won more than 60 prestigious national and regional awards and honors for his consumer education and protection work in rare coins and precious metals.  He is on the Boards of Directors of the influential Industry Council For Tangible Assets, Crime Stoppers of Jefferson and Hardin Counties Texas, and is a member of the prestigious Professional Numismatists Guild which honored him along with Doug Davis and Jerry Jordan in 2016 with its Sol Kaplan Award for helping to fight numismatic-related crimes.

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STEM at the United States Mint

May 21, 2017 in Coins, Collecting, Education, History, News, Numismatica, Numismatics, Opinion, Press Releases, Technology, US Government, US Mint, USA Coins

By: Brian Martin United States Mint Press Releases/Public Statements

STEM stands for “science, technology, engineering and math.” Many different careers use the problem-solving and innovation techniques taught in STEM, and these skills are in demand now more than ever. In fact, there were nearly 8.6 million STEM jobs in the… Full article at the source>

Find out more about how the Mint and its employees use STEM in this video.

By: USMINT

Originally published on Nov 7, 2016

This video with employees at West Point and Headquarters explores how the U.S. Mint uses science, technology, engineering and math to make coins.

 

Source: United States Mint Press Releases/Public Statements

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“Cents and Sensibility” Act reintroduced, aims to convert U.S. coinage entirely to steel composition

April 25, 2017 in Blogs, Circulating Coins, Coins, Legal, Legislation, Money, News, Numismatica, Numismatics, Pennies, US Government, US Mint, USA Coins

By: Mint News Blog Mint News Blog (http://mintnewsblog.com)

1943-D over D steel cent. (Photo courtesy of Stack's Bowers Galleries)

1943-D over D steel cent. (Photo courtesy of Stack’s Bowers Galleries)

 

On April 6, Representative Steve Stivers (R-OH) reintroduced the Cents and Sensibility Act (H.R. 2067), which proposes “to save the American taxpayers money by immediately altering the metallic composition of the one-cent, five-cent, dime, and quarter-dollar coins, and for other purposes.”

Cosponsored by Rep. Joyce Beatty (D-OH) and Rep. Pat Tiberi (R-OH), the act is further described in a press release as “bipartisan legislation [that] lowers the cost of producing pennies, nickels, dimes, and quarters by ensuring they are minted with steel instead of minerals imported from outside the United… Full article at the source>

Source: Mint News Blog (http://mintnewsblog.com)

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New to gold investing? The FTC has these tips

March 24, 2017 in Bullion, Coins, Collecting, Education, Gold, Gold Bullion, Investing, IRA, News, Numismatica, Numismatics, Opinion, Precious Metals, US Government

By: Coin Update News.CoinUpdate.com (Coin Update News)


“Police say two Bend teens made more than $50,000 selling fake bars of gold.” That’s the headline in today’s Register-Guard, a newspaper in Eugene, Oregon. It seems the two budding criminals got hold of fake, 1-ounce gold bars purported to be from the Perth Mint and the Royal Canadian Mint, in seemingly official, tamper-proof packaging. Then they went on Craigslist and connected with potential buyers. The unscrupulous juveniles rooked at least three adults—including an experienced coin dealer, who bought the majority of their stock* from individuals who’d purchased it directly from the teens.

This story seemed like a good intro… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Will the Trump administration make gold great again?

March 2, 2017 in Coins, Education, Gold, Gold Bullion, Gold Coins, History, Investing, Legislation, News, Numismatica, Numismatics, Opinion, Precious Metals, US Federal Reserve, US Government, US Mint

By: Louis Golino News.CoinUpdate.com (Coin Update News)

Donald Trump has been interested in gold for decades and once reportedly accepted rent payment in gold bars when APMEX was opening a New York branch back in 2011 (see photo above, or scroll down for video). He also bought a large quantity of gold for about $185 an ounce when gold ownership was legalized in 1975, and sold at just under $800 an ounce years later.

Trump has expressed qualified support for the idea of returning to the gold standard but has not backed any specific plan to do so. For example, during the 2016 presidential campaign he told GQ… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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How the Mint audits the nation’s deep-storage gold

March 1, 2017 in Blogs, Education, Gold, Gold Bullion, Gold Coins, History, Investing, Legal, Legislation, Numismatica, Numismatics, Opinion, Precious Metals, US Government, US Mint

By: Mint News Blog Mint News Blog (http://mintnewsblog.com)

Weighing-gold

The status of the U.S. gold reserves has long been a point of discussion, as all information on the subject is closely guarded by the Treasury. Although information on annual audits is available, the average person is unaware of it; and even those who know it exists generally don’t know where to find it. Couple these facts with the public’s widespread distrust of Congress and government agencies, and it’s no wonder that rumors about the nation’s gold supply have run rampant for decades. Nearly every coin and/or investment forum on the Internet, if you dig deeply enough, has hosted discussions Full article at the source>

Source: Mint News Blog (http://mintnewsblog.com)

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