Coin News

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We’re back to bring you another round up of coin collecting news and articles from around the internet! In a significant development, the United States Mint will suspend production of Presidential Dollars for circulation. There are several articles from a variety of sources of the announcement as well as some reactions and implications. Also, designs for the 2012 Star Spangled Banner coins, commemorative coin legislation, America the Beautiful Quarters, NGC services and fees, the Holey Dollar, collecting early gold coins, Steven Duckor, numismatic sales report, and notable auctions. On to the links…

Under the authority of the Treasury Secretary, the production of Presidential Dollar coins for circulation has been suspended. The limited number of coins needed to fulfill demand from collectors will still be produced. The reason cited for the suspension was cost savings.

Mint News Blog provides some preliminary thoughts on the implications for collectors and the United States Mint.

The mainstream media took notice of the $1 coin suspension. Here is coverage from the Wall Street Journal, Bloomberg, and USA Today.

There are those opposed to the suspension. Here are statements from the Dollar Coin Alliance and Citizens Against Government Waste. The $1 coin program actually generates a profit through seigniorage and the elimination of the $1 bill would save billions in the long run.

Finally, here is a post from NPR whose coverage of the 1.4 billion $1 coins in storage brought national attention to the issue.

Moving on… the designs for the 2012 Star Spangled Banner Commemorative Coins have been announced. The program includes a $5 gold coin and silver dollar.

A bill for a potential future commemorative program for the US Marshals Service is expected to be approved by the House of Representatives on Thursday.

The US Mint has written off $82,215 that was either lost or stolen through coin exchange programs at their headquarters in Washington DC.

Has the huge supply overhang of State Quarters finally been wound down? It might make sense to put away some of the lowest mintage America the Beautiful Quarters if future production levels will increase.

Coin grading firm NGC has announced their services and fees for 2012. There are price increases and refinements for some submission tiers.

Here’s the story of the first currency minted in Australia, the “Holey Dollar”.

Doug Winter provides some suggestions on how to get started collecting early gold coins.

Coin Rarities & Related Topics recounts the collecting journey of Dr. Steven Duckor.

The latest US Mint numismatic sales report includes the figures for the 2011 commemorative coins just ahead of the planned conclusion of sales at the end of the week. Some additional thoughts on the future potential for the 2011 commemoratives given the probable low mintages.

And now for some notable auctions. To start, an example of the 1900 Lafayette Silver Dollar graded ANACS MS62. The coin features George Washington and General Lafayette and was the first commemorative silver dollar issued by the United States.

Next, the key date 1877 Indian Head Cent graded PCGS XF40.

Last, representing one of the most popular modern commemoratives the 2001 American Buffalo Silver Dollar two coin set. The coins features the classic design from James Earle Fraser’s Buffalo Nickel.

That’s it for the update. See you next time!

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Tags: 2011, Banner, Commemorative, December, Designs, Dollar, Presidential, Spangled, Star, Suspension