February 2, 2012: US Mint Sales Reports, $1 Bills and $1 Coins, Coin Dealers

Welcome to Coin Update!

We’re back with another fresh round up of coin collecting news and articles from around the internet! First, sales reports covering the United States Mint’s numismatic products and American Gold and Silver Eagle bullion coins. Also, a Senate bill seeking to switch from $1 bills to $1 coins, World’s Fair of Money, coin launch ceremonies, two articles on coin dealers, Liberty Seated Half Dollars, exchange $20 for $20, silver investment, gold denominations, and notable auctions. On to the links…

New sales reports are available for US Mint numismatic products and bullion coins. On the numismatic front, the five ounce silver coins sold faster. For bullion coins, both gold and silver showed big gains from the prior month, but fell compared to prior year levels.

A Senate bill has been introduced which seeks to transition from $1 bills to $1 coins. This is a companion bill to the previously introduced H.R. 2977.

Here is a news release about the bill from one of the co-sponsor’s website and coverage from one of the Wall Street Journal’s blogs.

Interestingly, the United States Mint has not taken a booth at the World’s Fair of Money in Berlin, although a representative will attend the show.

Coin launch ceremonies for America the Beautiful Quarters and Presidential Dollars are currently in limbo. The US Mint is looking at procedures to make sure the ceremonies are conducted efficiently.

John Brush of David Lawrence Rare Coins answers the question: “What do coin dealers do all day?”

On a related note, this Numismaster article from Patrick Heller asks: “Have you thought of becoming a coin dealer?” He provides some insights on what it involves in possible avenues to begin.

Coin Rarities & Related Topics discusses the Liberty Seated Half Dollars offered in the FUN convention auction.

The Royal Canadian Mint has released a new $20 silver commemorative coin, which is offered at face value. Each coin contains about a quarter ounce of silver content.

It seems that the $500 million in gold and silver coins recovered by Odyssey Marine Exploration may soon be turned over to Spain. After the latest ruling, the only avenue of appeal for Odyssesy would be the U.S. Supreme Court.

Silver has had its best start to a year since 1983, after rising 19% from its December 31 close. This Bloomberg article describes the record industrial demand and resurging investor demand.

Here are three classic gold denominations that may offer some great values.

An article from the PCGS Library with an example of how having a great attitude can pay off in the coin market.

And now for some notable auctions. First, a 1962-D Lincoln Cent struck on a scrap planchet with a weight of 1.12 grams. This compares to the standard weight of 3.11 grams. The mint error was graded NGC MS 64 RD.

Next, the bimetallic 2000-W Library of Congress $10 Coin graded PCGS MS69. This uncirculated version of the coin was struck in gold an platinum with a mintage of 7,261 pieces.

Last, a 1940 Proof Set with the coins graded PCGS PR65 to PR66.

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

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