Susan's Coins Blog

Coin World is reporting in its September 8 issue that PCGS has purchased a selection of counterfeit Chinese coins and coin dies on an unnamed online auction site. The coins, which are being sold as "Chinese Ackey coins" are actually counterfeit Chinese coins, not the fake U.S. coins we saw a few months ago when I was the first journalist to break the story that included numerous photos inside a Chinese counterfeiting ring. PCGS also bought several coin dies meant for striking fake Chinese coins, apparently in the same auction purchase.

A press release, which was sent by PCGS to most of the major numismatic media, included some photos that show what PCGS bought. It would have been nice to know how much they paid for the lot, and which auction site they bought it on (probably eBay, but was it U.S. eBay or Chinese eBay?) A quick trawl of U.S. eBay produced 15 active auctions for this same coin set, in the same booklet (but without the dies) from 15 different sellers. All 15 sellers are linked to the same gang of fakes sellers known as the "Hello Xiang Gang." They sell all kinds of fake stuff, but fake Chinese coins seem to be Read more...

One of the many interesting corporate announcements made by the big players in numismatics at the recent ANA World's Fair of Money in Baltimore seems to have been lost among the noise. NGC has developed a new high-tech coin holder, or "slab," which is expected to be available by the end of September. The new NGC slab, called the EdgeView^TM Holder, has five new features:

High Security Label - The label, or "slab insert" as many collectors call it, will be micro-printed, include a holographic layer, and have UV-reactive watermarking.

EdgeView^TM Design - Most of the edge of the coin will be visible through the holder, unlike the current generation of holders which places the coin in a gasket that hides the edge.

Preservation-Grade Materials - The new NGC holder will be made of state-of-the-art preservation-grade materials, the same materials that the Smithsonian Institution demanded for the coins in the National Collection that NGC slabbed awhile back.

Directional Pressure Welding - The new NGC holder ensures that "every coin will be cleanly, safely, and fully sealed" according to NGC marketing materials.

State-of-the-Art Hologram - The hologram on the new holder will be fused directly onto the plastic holder itself, rather than inside the holder. New technology allows for a hologram that is "virtually impossible to reproduce."

An Analysis of NGC's New Holder

So, what is my take on all of the above? First of all, for a holder that is supposed to be an answer to the very serious and potentially-market-destroying problem of Read more...

Reading the headline of this post, you might wonder why it is newsworthy that a nickel is worth a nickel. The answer is that around this time last year, a nickel was worth almost a dime! I'm talking about the melt value of the U.S. nickel coin, which is actually made out of 75% copper (and 25% nickel.) Most people are aware that the U.S. Mint stopped making the penny out of copper back in 1982 because the metal in the coin was worth more than face value. For the better part of the past two years, even the post-1982 zinc pennies (which have only a thin copper coating) had a melt value approaching one cent, and the expenses of producing the penny sent the production cost well over face value. The nickel is suffering a similar fate, even though its melt value Read more...

To me, one of the most amazing things about coin collecting as a hobby is that you don't need a lot of special tools or equipment to get started. Sure, these things help, but anybody can begin collecting coins right out of their pocket change! 140 million Americans are collecting State Quarters, and trying to put together a complete set of one of each State Quarter type out of pocket change is tougher than you might think!

For people who want to collect older coins right from circulation, the Jefferson Nickels simply can't be beat! I often find nickels from the 1940's and '50's when I search through rolls of nickels from the bank. I wrote an article awhile back about how to begin a collection of these great nickels right out of circulation, called How to Start a Coin Collection on $4. But easily the most valuable coins circulating through our pocket change these days Read more...

Today was the big day for the Andrew Jackson Presidential Dollar! It was officially released at a ceremony at Andrew Jackson's famous plantation mansion, the Hermitage. Rather than have historical reenactors this time, the U.S. Mint opted to go for a ceremonial coin pour. U.S. Mint Deputy Director Andrew Brunhart, Andrew Jackson the Sixth, and Hermitage official Richard Cowart all convened in front of a table covered in black velvet and proceeded to pour out a canvas bag full of Jackson Presidential Dollars. Although most of the coins behaved and gathered into a nice golden pile, a few went rolling off in various directions for the kids to scurry after. Following the pour (and the obligatory speeches,) the 300-odd kids who were present each got a free Jackson Presidential Dollar coin.

The Jackson Presidential Dollar is certainly one of the more well-executed designs in the series. The portrait of Jackson, designed by AIP Master Designer Joel Iskowitz, sparkles with the light and charisma Jackson certainly possessed in life (although I would have preferred to see Read more...

One of my favorite coin collecting categories is ancient Greek and Roman coins. I have been collecting them since my college days, when I'd buy "freshly dug-up" ancient coins by the kilo from ads in the back of magazines like Biblical Archeology and Archeology Today. The coins usually arrived with bits and pieces of ancient bronze junk, such as fibulae with no pins, or bits broken off of military implements and gear. The coins were generally low-grade and needed some cleaning, and when they've been buried for upwards of 2,000 years, soap and water isn't going to do the job. If it was that easy, you wouldn't be able to buy this stuff so cheaply.

With the advent of the Web and eBay, ancient uncleaned coins went mainstream. Early eBay dealers would sell them by the coin, at 20 cents to $1.00 each, and as new collectors flocked to this fascinating uncleaned coins hobby, amazing claims were made. Some people claimed to have found gold coins in these low-grade, low-priced lots. What they really found was Read more...

The 2008 ANA World's Fair of Money has been over for a little more than week now, but attendees are still buzzing about what a great show it was! Numerous dealers have reported that it was the best show they've done in years. Some claim it was their best-ever, including the U.S. Mint, which sold $543,000 worth of products.

Unfortunately, I wasn't able to attend this year, thanks to a nasty and ill-timed bout of the flu, but I've been asking friends to share any photos they have from the event, and have started an ANA convention photo gallery to share them with you. If you have photos from this year's World's Fair of Money in Baltimore that you'd like to share, please send them to coins.guide@about.com. I'd especially like to get photos of the world Mint booths and any celebrities you happened to catch!

Although I'll be adding photos to the gallery over the next couple of weeks, current highlights include:

• The $12,650 Lunch Date
• The Ultra-High Relief Coin Plasters
• A Pile of 27 Lb. Gold Bars

Today, August 8 of '08 is an important day for many reasons. Of course, everyone knows the Summer Olympics opened in Beijing, China, today at (you guessed it, exactly 8:08:08 pm. That's 8 seconds after 8:08 pm.) The reason the Chinese chose this day and time is that it contains the maximum number of 8s, a number which is "lucky" to superstitious Chinese. Of course, to buy into this view, you need to conveniently ignore the 2 in 2008, but let's not spoil the fun by being nitpicky. ;) Chinese people associate the number 8 with good luck because Read more...

If there is one sure method of lowering the value of your rare coins, it is to clean them. Cleaning your coins will generally reduce their value by 80% to 90%, because coin collectors value the original, pristine surfaces of their coins. Even a tarnished, grimy-looking coin is preferred over one that has been improperly cleaned. Being able to tell if a coin you want to buy has been cleaned is an important skill to have. Although reputable grading services such as NGC and PCGS claim they don't slab cleaned coins, mistakes do happen, so you should learn to tell the difference between a coin with original surfaces and one that has suffered the indignity of being damaged by "cleaning."

• How to Tell if a Coin Has Been Cleaned

Mike Byers has published another excellent edition of his free Mint Error News Magazine. The current issue is cram-packed with more than 250 pages full of information and photos relating to error coins. As always, Al Levy's error coin price charts are fascinating. For instance, we learn that a blank Monroe Presidential Dollar with edge lettering sold for a whopping $20,000 on eBay! Another specimen of basically the same thing sold a little later for $1,791.67. Both were in NGC holders with no grade given (as is currently customary for NGC when grading blank planchets.)

Other pricing information I noted was that plain edge Washington Dollars (remember those?) are selling for an average of $43.85 raw on eBay, with graded specimens up to MS-64 running from about $60 to $90 depending on who slabbed it. MS-65 and 66's in PCGS and NGC holders were selling for about $80 to about $150.

I've had my eye on the Wisconsin Extra Leaf Quarters on eBay for awhile now, meaning to pick up a pair of them for my collection while prices are at their all-time lowest for these fascinating varieties. I pounced about 3 weeks ago, paying Read more...