January 11, 2012: Circulating Coinage Seigniorage, FUN Convention Reports, World Coins
Welcome to Coin Update!
We’re back with another fresh round up of coin collecting news and articles from around the internet! First, the US Mint faces uncertainties in future cash flow due to shifts in circulating coinage production. Also, the latest weekly numismatic sales report, coin market reports following the FUN convention, results of the Heritage auctions held at FUN, the US Mint Director vacancy, denominations of commemorative coins, tour of a cash logistics company, world coin issues, Royal Canadian Mint news, and notable auctions. On to the links…
The US Mint’s transfer to the Treasury General Fund was sharply lower for fiscal 2011 as additional cash was held in reserve. Circulating coinage production will likely generate significantly less seigniorage in the coming year due to losses on the cent and nickel and the lower production of $1 coins.
The weekly numismatic sales report was mostly quiet, with lower sales for 2011-dated annual sets and higher sales for First Spouse Coins. Shortly after the report was issued, the 2010-P Mount Hood Five Ounce Silver Uncirculated Coin sold out.
Coin market reports following the FUN convention from Vic Bozarth and Doug Winter.
Heritage provides some highlights from their auctions held at FUN, with more than $64 million realized from the coin and currency events. Here is some additional commentary on the auctions from Steve Roach.
CoinWeek has some video coverage from the recently concluded 2012 FUN Convention. Here is a link to the latest video news.
Beth Diesher discusses the Mint directory vacancy. It has been a full year since the United States Mint has had a presidentially appointed director.
A local news story that suggests taking all of the “gold coins” out of circulation and melting them down to pay the national debt. The man behind the idea thinks Presidential/Sacagawea Dollars contain one troy ounce of gold that goes for $600 to $800. Of course, all of this is completely incorrect.
What is the best way to denominate commemorative coins? Should they have a nominal value much less than intrinsic value like the United States, or a value higher than the intrinsic value in some other countries?
Q. David Bowers describes the difference between 1964 and 1965 for circulating coinage, which was like day and night.
A tour of the cash logistics company Geldservice Austria with many pictures included.
More than $400,000 worth of coins was left at TSA security checkpoints during 2010.
Louis Golino discusses 2011 world coins that he believes are the best of the year.
The Royal Canadian Mint will change the weight of the loonie and toonie by an “imperceptible” amount to the general public, but it may result in hundreds of thousands in costs to updated parking meters in one city.
And now for some notable auctions. First, this seller has listed more than 50 different early commemorative silver dollars that were recently graded by NGC. Grades range from AU to MS67 and many of the lower mintage issues are included.
Next, the 2000-W Library of Congress Gold & Platinum $10 Coin graded PCGS MS70. This was the first and only gold and platinum bimetallic coin struck by the US Mint.
Last, an 1879 Proof Trade Dollar with an old ANACS paper certificate grading the coin PF 63/64.
That’s it for the update. Have a great day!
View full post on Coin Update
2012, Circulating, Coinage, Coins, Convention, January, Reports, Seigniorage, World
RSS Site Feed