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COIN MARKET INSIDER's REPORT takes the pulse of the numismatic marketplace and talks about the buys, the sells, and the trades that all collectors and investors are interested in.
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COIN MARKET INSIDER'S REPORT is the award-winning column that has run in COINage Magazine monthly since 1974. Its author is David L. Ganz, a New York City lawyer, who for more than 35 years has covered the numismatic marketplace. Besides practicing law, he is a past present of The American Numismatic Association, and served for a dozen years as general counsel to the Professional Numismatists Guild. Appointed by President Nixon to the 1974 Annual Assay Commission, he served (1993-1996) as a Clinton appointee on the Citizens Commemorative Coin Advisory Committee. His latest book, "The Official Guide to America's State Quarters" is a Random House mass market paperback, due out this fall.
The column began with a premise that it could report, telegraph style, about what was going on in the numismatic marketplace and talk about the buys, the sells, and the trades that investors and collectors are interested in. It now includes the internet, and http:// addresses you can hyperlink to, easily. This is an expanded version of the column as it appears in COINage Magazine. The author can be reached at: davidlganz@ganzhollinger.com.
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Insider's Report
August
by David L. Ganz
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Resignation noted: Helen Carmody Lebo, as ANA vice president, for health reasons... The ANA Board will vote on her replacement... New addition to the board: Barry Stuppler, a California dealer (highest vote getter)... new bridesmaid (succeeding to office in the event of departure, resignation or incapacity): Steven Markoff, of A-Mark, another California dealer... www.money.org
Back on track: after a trip through the Texas judiciary, and an appeal to a higher court, the litigation by Stack's Rare Coins www.stacks.com and Superior against the ANA continues... Depositions are slated for the fall, with a trial likely in 2001... The complaint's substance is that Heritage always received the ANA auction... This year's ANA sale in Philadelphia is run by Bowers & Merena....www.bowersandmerena.com
Muled Sacagawea dollar with a 50 state quarter hits e-bay as a major error... One "minor" error also on e-bay: a putative proof set with some coins dated 1975, the others 1976... Don't laugh too loudly; it's a bicentennial set, and they were made that way... but some people bid on the "error" anyway.... www.ebay.com
Just out: the New Hampshire 50 state quarter coin... depicting the Old Man of the Mountain... www.usmint.gov Reviews on the design are mixed... Some favorites still focus on the Charter Oak of Connecticut...My new book "The Official Guide to America's State Quarters" comes out as a Random House mass market paperback in November.... www.randomhouse.com
Delivery of the Leif Erikson commemorative of the U.S. and Icelandic governments, marketed in a joint venture, are sent by mail not as a set, but separately in different packages... Plans for U.S. Mint production of yet another Capitol commemorative seem focused on 80,000 gold coins and a 400,000 silver coin mintage, though arguments rage for even lower figures....
The Congressional Budget office believes that even with 80,000 gold and 400,000 silver dollars, there will not be a sell out (though it would be close).... thomas.loc.gov
Gold medals in the works: for former President and Mrs. Ronald Reagan, and also for Pope John Paul, II... both of which were approved when President Clinton signed Public Laws 250 and 251 into law... www.whitehouse.gov Earlier, in June, Peanuts cartoonist Charles Schulz was also awarded a Congressional gold medal for his life's work (he died in February)....
Open meeting: continuing a tradition begun at my initiative in 1994, the Citizens Commemorative Coin Advisory Committee is bringing a meeting to the people, at the ANA convention in Philadelphia... Diane Wolf comments that the current statute governing the CCCAC requires that the chair be someone other than the Mint director... and adds that since Diehl's departure, the Treasury Secretary has not named a replacement (presumably Director Jay Johnson)... Others query when the five year terms of incumbents appointed in 1993 will expire....
New product: a 24 karat gold select plated $100 silver certificate on line. This magnificent quarter-pound silver certificate proof can be viewed at:
http://www.washingtonmint.com products/currency/selectfranklin.html
An 1896 Morgan Silver Dollar, MS-69,the rarest and most expensive coin ever sold exclusively Online at an Internet auction, was offered by Barry Stuppler & Company, Inc., of Woodland Hills, CA... It had an estimated value of $325,000. The winning bid will have to be over the $269,000.00 reserve price (it did not sell, but the high bid was $236,700).... Still pretty impressive...
Coinstar National Currency Poll Finds Early Popularity for New Dollar Coin
Survey Reveals Greatest Acceptance of New Design Among Younger Americans.... The Coinstar survey also found that 47% of Americans are in possession of at least one Sacagawea dollar coin, while another 32% say they have seen one. Overall, the survey found that 89% of Americans are aware of the newly designed dollar coin.... www.coinstar.com
Effective July 24, 2000 the Mint started accepting orders online for the 20-coin 2000 United States Mint Uncirculated Coin Set®.... These coins are struck using the same process as circulating coins, but with special quality enhancements such as slightly higher coining force, early strikes from dies, special cleaning after stamping, and Mylar® packaging..... $14.95... On line orders are exempt from shipping and handling.. www.usmint.gov.
His Royal Highness, Prince Philip, has returned as President of the Royal Mint Advisory Committee... The British Royal Mint's annual report 1999-2000 has just been published at 36 pages in length... www.royalmint.com ... The Queen Mum's 100th birthday gold set has sold out... Dallas Gold & Silver Exchange, Inc. (Nasdaq: DGSE), announced significant gains in revenues and earnings for the second quarter and first half of FY2000. For the three months ended June 30, 2000, revenues increased 45.3% to approximately $6.0 million, compared with approximately $4.1 million in the second quarter of the previous fiscal year....
Just in time for this summer's presidential conventions, Sunoco is saluting the 10 United States presidents from the last 50 years. With every visit, a different solid brass commemorative "coin" will be given to customers with any 8-gallon gasoline purchase.... We call them medals... www.sunoco.com
Some prices realized from the latest Harry Bass book sale from George Frederick Kolbe: $38,500 for a large paper set of W. Elliot Woodward's eight "Semi-Annual" Auction Catalogues, apparently Woodward's own (last sold at auction in 1968 for $55!)... $13,200 for S. H. Chapman's 1921 Henderson Auction Sale with plates, the highest price ever paid for an American coin auction catalogue (the last copy sold, in the 1994 Bowers & Merena sale, brought $3,530) ... $29,700 for a Superb Leather bound Set of The Numismatist, 1888-1952, including the first ANA President's run of the early volumes...
From Bowers & Merena's ANA Sale, the Sacagawea-50 State quarter mule brought $30,000.... From Heritage's Philadelphia (pre-ANA sale): $9,200.00 for a1799 George Washington Gold Uniface Oval Mourning Medal or Badge... $718.75 for a 1799 George Washington Westwood Medal, by English artist John Westwood... Attendance was the strongest for an ANA convention in years... badge clips were being re-used starting Friday... The exhibit area was packed... New ANA Veep: John Wilson, replacing Helen Carmody, resigned for health reasons... Attending and autographing: Glenna Goodacre... She was paid with 5,000 Sacagawea dollars by the U.S. Mint... They have been encapsulated by IGA, james Taylor announced... Goodacre is selling them, with an autograph, at $200 apiece... And they were lined up five deep to buy 'em.. www.glennagoodacre.com
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David L. Ganz
