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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 2001
by David L. Ganz
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Henrietta Holsman Fore was confirmed by the Senate August 3 as the 37th director of the U.S. Mint... Her confirmation hearing before the Senate Banking Committee took place July 26.... She was introduced by her home state representative, Sen. John Ensign, R-NV... Numismatists take note: her confirmation testimony said "I will have a challenge to encourage and maintain the enthusiasm of the coin collecting community..." http://thomas.loc.gov/cgi-bin/query/D?r107:2:./temp/~r107czwsRG
Other pearls: " We have a responsibility to educate the public about their history, for it was an urgent, but not a simple matter when the Senate and the House assembled in 1792, and set the standards for a Mint to create the nation's coinage...." Fore succeeds Jay Johnson, who stays on as a Treasury Department consultant.... http://www.senate.gov/%7Ebanking/01_07hrg/072601a/fore.htm
Also confirmed August 3: Rosario Marin, former councilwoman of Huntington Beach, Ca, as the nation's Treasurer, succeeding Mary Ellen Withrow... Mrs. Marin was born in Mexico City and did not speak English until she was nine years old... Hers is a truly "only in America" story... The position of Treasurer is older than any cabinet post... http://www.senate.gov/%7Efinance/073101rmtest.pdf
Furor erupts over the Buffalo commemorative silver dollar... The series sold out its 500,000 issue leaving some collectors howling with disappointment.. Prices are at $100 and above for the coins.... The mint limited orders to 20 coins, then cut back some order to allow for additional purchases... Legislation sponsor Sen. Ben Nighthorse Campbell ®--Colo.) proposed that an additional 250,000 pieces be retroactively issued by Treasury Secretary Paul O' Neill's edict... The proposal would have the coins marked with a "2" so that it is clear it would be the second issue... That would then be the really scarce one... On August 6, the Treasury Department said it had received a formal request and was considering it... www.treas.gov
Dealer Fred Weinberg complains that the Mint has tightened coin and planchet examinations, reducing the number of errors...Where there are numerous double strikes of issues from Delaware to North Carolina, the Rhode Island pieces are non-existent so far...Weinberg also came up with a great mystery coin: an authenticated 1965 two-reverse coin in a PCGS holder... It will be at the ANA convention in Atlanta on display... www.fredweinberg.com
Kellogg $50 gold pieces command six-figure prices... Restrikes using gold from the S.S. Central America (a contemporaneous shipwreck) will be used to make a 2½ ounce piece with a unique counterstamp showing the 2001 mintage and a reverse ribbon with the California Historical Society logo for the sponsoring organization... The pieces will retail at $5,000 each... www.bowersandmerena.com
Navajo code talkers congressional gold medal was presented in impressive July 26 ceremonies in the Capitol Rotunda... President George W. Bush gave medals to four surviving members of an elite group of 29 code talkers, who used their native language to create a code the Japanese could not break during World War II... Bronze duplicates for collectors will be ready later this year... Also available: a bronze duplicate of the Charles M. Schulz medal complete with Charlie Brown, Snoopy, Linus and Lucy.... www.usmint.gov
ANA election results: John Wilson is the new president, Gary Lewis the new vice president (both winning contested elections)... Other re-elected board members include Patricia Finner, Kay Edgerton Lenker and Barry Stuppler....New Board members include Remy Bourne, Arthur M. Fitts III, William H. Horton, Jr., and Jerry Lebo.... www.money.org
RIP: Dr. John Davenport, 94, author of the opus on Thalers and many other books... Over a 40 year period, some 10 volumes were published in the definitive series...
Nearly ready to be offered: the 1933 $20 gold piece, ex-Farouk, with the U.S Mint and Stephen Fenton determining who will sell the coin... Which investment newsletter told its subscribers to buy Delaware and Pennsylvania quarters at face value in search of great-condition, and a quick profit: the Forecaster, by John Kamin... Another winner for the nearly 40 year old publication....
Restricted: the U.S. Mint cannot complete its museum in Washington absent consent of the House and Senate Banking committees... The House Report (107-152)of late July specifying this is part of Treasury's annual appropriations... Bill introduced to abolish the cent by Rep. Jim Kolbe, R-Az, H.R. 2528... Also in the bill: use of the $2 bill for a series of annual designs with historic themes (at least five would be required).... http://thomas.loc.gov
U.S. Mint has partnered with the Trenton (N.J.) Thunder Baseball Club to increase use of the Sacagawea golden dollar... At each of their 71 home games the coin will be used... The Red Sox affiliate plays in Mercer County.... The Mint also partnered with Paramount Park's King Dominion (Richmond, Va) and International House of Pancake in aggressive moves to increase use, thanks to Jay Johnson, now outgoing mint director...
New chief assayer of the Old Timers Assay Society (OTACS) is COINage's Jim Miller, appointed by last year's chief assayer (me)... Succeeding Dorothy Baber as executive director will be the husband-wife team of Arthur Fitts and his wife Prue.... Heritage Numismatics, known for innovation, is offering a $5,000 prize for best published article that is added to its web site... Numismatic Literary Guild writers and others are invited to compete, and to add material, even if previously published... The prize is a substantial one...
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David L. Ganz
