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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
January 2002
by David L. Ganz
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The Professional Coin Grading Service (PCGS), has graded its 7 millionth coin... This significant achievement took 15 years... Though there are competitors, PCGS remains the leader in the field...
U.S. Mint prepares for a consumer forum March 9 at the ANA early spring convention in Jacksonville... It's actually called a business forum, but will allow for Q&A from customers, dealers, suppliers, and others... Scheduled to participate is US Mint director Henrietta Holsman Fore, Deputy Director John Mitchell, Associate director David Pickens, associate director Brad Cooper and Bill Daddio, chief of protection... www.usmint.gov
Still awaiting decision to sell: the government's 1933 $20 gold piece, which (as a result of a settlement) it owns with London dealer Steve Fenton.... The claim brought by Stack's and John Ford against Theodore Buttrey over alleged defamation concerning gold bar manufacture has been dismissed by an Illinois court.... www.courtlink.net
Massachusetts colonial silver collectors: Stack's is offering the Hain Family collection Jan. 15-17, with more than 180 different specimens ... probably the largest such collection to cross the auction block in the last century, perhaps ever.... www.stacks.com,
NGC has opened for business in Sarasota... New address for registered mail and UPS is PO Box 4776, Sarasota FL 34230... Telephone: 800-NGC-COIN.... www.ngccoin.com Still closed: Bureau of Engraving & Printing, to tourists, in Washington... and public visits to the Philadelphia Mint, all a result of the terrorist events of September 11....
Royal Canadian Mint is producing a medal with a trademarked name, "ReelCoinz" which features Harry Potter and the Sorcerer's Stone images.... licensed by the movie maker... Pre-sales of Olympic coins for the 2002 games at Salt Lake City show a slow start, especially for Uncirculated $5 gold.... The coins have a theme of "fire and ice".... www.rcmint.can
Donald Kagin, the California dealer, www.kagins.com was the winning bidder for the Amon Carter Class III 1804 silver dollar, a proof-58 PCGS certified coin Bowers & Merena sold for $874,000... Other coin prices from the sale: an 1879 Stella $4 gold piece, proof-66, went for $94,875, a 1920-S double eagle in NGC MS-61 went for $18,100... an 1888 silver dollar, PCGS proof-66, went for $16,100.... A 1909 VDB matte proof PCGS-66 went for $12,650... a 1792 half dime in Fine-12 ANACS reached $24,150....The coins originally were scheduled to be sold in New York City but the sale was postponed because of the events of Sept. 11, and the sale moved to Baltimore.... www.bowersandmerena.com
Mintages for the Vermont state quarters: 423.4 million (P), and 459.4 million (D)... Little Rhody is 423 million (P) and 447.1 million (D)... Getting ready for release: Tennessee quarter.... Capitol Visitor's Center sales results are disappointing... The "no package" option has added to overall sales... The formation of the union set finally nears a sell-out....
Platinum production of the U.S. Mint is modest... about 2400 one ounce pieces have been made separately , with high number being 5900 four-coin sets... By comparison, in year 2000, about 10,000 one ounce platinum were struck... Gold one ounce is also down from 94,000 in 2000 to 7,900 in 2001....
Don't forget the 30th annual New York International Numismatic Convention, rescheduled from September 11 (it was at the World Trade Center site) to the Waldorf Astoria Hotel, Jan 17-20.... Upcoming auction by Ponterio & Associates: at the Chicago International Coin Fair, April 5-6, 2002.... The New York international moves to a permanent January date. For 2003: Jan 17-19, 2004 it will be Jan 16-18... 2005 is Jan 14-15, and 2006 is January 13-15.... The Waldorf, a legendary hotel, is at 301 Park Avenue @ 49th Street....
Debut of the Euro has caused confusion... Even though the denomination has been in use for three years, that was on paper... Currency is now circulating throughout Europe (Euro notes and individual nation's coinage denominated in Euros... The predicate that it would be stronger than the dollar has already proven disastrous....
Participating countries include Austria, Belgium, Ireland, Finland, France, Germany, Greece, Italy, Luxembourg, Netherlands, Portugal, Spain... Non-participants include England, Denmark and Sweden.... Nearly all paper money will cease to be legal tender after February of 2002....
The Bureau of Engraving & Printing has souvenir card sales available for the FUN show (Jan. 10-13), Texas Numismatic Association (May 10-12) ANA in New York (June 31-Aug. 4) and Long Beach Expo (Sept. 25-29,2002).... Subscriptions: $25 for four cards, $44 for two intaglios (FUN and ANA)... Want one with a postal cancellation: $26.40 for all four... Orders to BEP, 14th & C Streets SW, Washington D.C. 20220 or www.moneyfactory.com...
NGC confirms that a two-reverse Washington quarter, made of clad material, has been produced.. The coin involved was graded MS-63.... Abbot's Coinex was the owner of the coin... Another was sold by error specialist Fred Weinberg to a New Mexico collector for $80,000....
Pearl Harbor 60th anniversary silver proof medal by the late Frank Gasparro, former chief engraver of the Mint.... Available in a limited edition of 10,000 only (.999 fine silver, 39mm size) for $29.95 from National Collector's Mint, 8 Slater Street, Port Chester, N.Y. 10573 (telephone orders 800 452 4381).....
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David L. Ganz
