Redfield’s Hoard, America Bullion Coins, Fake Coins

Welcome back to Something About Coins! Most coin collectors try to collect quality, but it appears LaVere Redfield collected quantity, and in some ways, that's helped today's silver dollar collectors. New, extra large silver bullion coins are on the horizon, as part of the America the Beautiful program from the U.S. Mint. And getting counterfeit coins removed from internet auction sites is no easy task. Here's more about today's interesting stories:

Paul Green, Numismatic News, addresses the significant impact that the Redfield Hoard made on the availability of Morgan and Peace dollars, and what this availability means for collectors who want them. LaVere Redfield had about 407,000 silver dollars in bags in his basement, and they were sold when his estate was settled after his death in 1974. As a result, reports Green, when this extremely large number of silver dollars entered the market, it reduced the scarcity and helped to keep prices lower. Green discusses dates, mints, and the history behind Redfield's hoard. If you like Morgan dollars, you'll want to read this article.

Tucked inside the bill for next year's America the Beautiful quarter program, which I had mentioned yesterday, is an act to make five ounce silver bullion coins with the same image as the new quarters, points out Dave Harper in his daily blog, BUZZ with Dave Harper. He considers the the new bullion coins a marketing tactic - not more than a novelty item, but he also considers the possibilities a collector will have several years from now.

More than 300 fake coins were removed from eBay after a vigilant coin collector discovered them, reports Richard Giedroyc of World Coin News. The replica coins were from China and were being sold as genuine. Giedroyc describes the hard work a Canadian coin collector went through to get the proper aid from authorities in order to get the counterfeit coins removed from the online auction site.

In other coin news for the day, and straight from CoinNews.net, the U.S. House of Representatives passed the Star-Spangled Banner Coin Act on Wednesday. The bill still must make its way through the Senate, but if enacted, then 2012 will feature a max of 100,000 $5 gold coins and up to a half million silver dollars with images of the battle that led to the writing of the American song.

That's all for now! Have good evening!

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KJ

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