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Showing posts from September, 2019

The Challenge of Grading Circulating Coins

by Michael Fazzari I once gave a presentation dealing with coin grading at a club meeting in Maryland.  I thought my speech was well done and informative; yet after the question and answer period was over, a member came up to say that she was mildly disappointed as I had just skimmed over the circulated grades and focused mostly on the Uncirculated grades. She wanted an explanation of the circulated grades that she was able to collect. I was reminded of this oversight by a “Letter to the Editor” that I clipped out of this publication. I confess to another oversight on my part as the letter appeared in a summer issue back in 2017!   Long-time collectors know there is a wealth of information about grading circulated coins as close as their computer.  Additionally, there are several excellent grading guides with descriptions and images of coins grading from AG to AU.  That’s one reason that I spend very little time teaching about coins grading below Extremely Fine. Additionally, their p

Did the U.S. Half cent ever have purchasing power?

I recently read about the 2019 Floating Head variety Lincoln cent in Numismatic News. Since the image wasn’t clear, can you describe the coin? The 2019 Floating Head Lincoln cent has no neck, although the tie at the throat area is visible. Since multiples of the variety have been discovered, it is likely the variety is caused by an inferior or over-polished obverse working die than from foreign material becoming lodged momentarily in a die.   Did the U.S. half-cent ever have any purchasing power? When the half-cent was introduced in 1793 the typical wage earner made a dollar a day and worked six days a week. It cost about 1.5 cents to purchase a pound of potatoes. According to Old Inns and Taverns of West Jersey, a dinner with a pint of good beer or cider cost 37.5 cents in Salem County in 1806. The half-cent served a function at that time.   I recently saw a slabbed Platinum American Eagle coin on which the label described the coin as being a mint error with a finned rim. What

September 18, 2019, CCAC meeting: 2020 American Innovation $1 coins — Massachusetts

Background photo by AgnosticPreachersKid. On Wednesday, September 18, at 9:30 a.m. (EDT), the Citizens Coinage Advisory Committee (CCAC) held a meeting to review and discuss designs for the upcoming 2020 American Innovation $1 coins for Connecticut, Massachusetts, Maryland, and South Carolina in addition to the Congressional Gold Medals for the USS Indianapolis and Chinese American Veterans of World War II. Below are the various proposed designs for the 2020 American Innovation $1 coin for Massachusetts. Let us know in the comments which design you would choose! MA-01 — 2020 American Innovation $1 Coin – Massachusetts. Hover to zoom. MA-02 — 2020 American Innovation $1 Coin – Massachusetts MA-03 — 2020 American Innovation $1 Coin – Massachusetts MA-04 — 2020 American Innovation $1 Coin – Massachusetts MA-05 — 2020 American Innovation $1 Coin – Massachusetts MA-06 — 2020 American Innovation $1 Coin – Massachusetts MA-07 — 2020 American Innovation $1 Coin – Massac

U.S. Mint sales report: Week ending September 22, 2019

This U.S. Mint numismatic sales report covers the week ending September 22, 2019. The Mint’s best-selling product this week was the 2019-S Proof Set (19RG) , which sold 4,273 units. In second place was the 2019-W one-ounce American Silver Eagle $1 Proof coin   (19EA)   with 3,671 sold. The third best-selling item this week was the 2019-D American Innovation $1 25-coin roll (19GRE) , with 3,433 individual units sold. It’s followed by the 2019-P American Innovation $1 25-coin roll (19GRA) , with 3,421 sold; and the 2019-S one-ounce American Silver Eagle $1 Proof coin (19EM) , with 3,289 sold. This week saw a downward adjustment of -3,371 for the 2019 one-ounce American Palladium Eagle $25 Reverse Proof coin (19EK), -19 for the 2018 American Innovation $1 Reverse Proof coin (18GE), and -1 for the 2019-P American Legion Silver $1 Proof Coin & Medal Set (19CQ). On September 16, the Mint and Bureau of Engraving and Printing jointly released the 2019 American Legion 100th Anniversar