Welcome to Something About Coins! Much interest has been focused on gold coins, and now the U.S. Postal Service is investigating certain gold coin purchases. Doug Winter lists 20 undervalued rare gold coins, and Steve Roach comments on the rare coin versus rare art debate. India is losing a coin, and some ancient coins are explored. Enjoy!
U.S. Postal Service Inspectors Investigate Fraudulent Gold Coin Purchases, coinnews.net
U.S. Postal Service inspectors are investigating the fraudulent use of stolen American Express credit cards to purchase apparently tens of thousands of dollars of gold coins. "The orders are placed by phone, often for $10,000 to $20,000 worth of Liberty Double Eagles or other, large-sized gold coins. The callers have a foreign accent and sometimes have problems pronouncing the name on the credit card. They'll phone dealers and will correspond by email, but no one ever answers the phones when dealers try to call them back," said Michael Fuljenz, President of Universal Coin & Bullion in Beaumont, Texas ... Click for coin article
20 Interesting, Undervalued U.S. Gold Coins You Can Buy for Less Than $5,000, raregoldcoins.com
In a recent blog, I mentioned the fact that the entry level to become a buyer of interesting United States gold coins was a much lower barrier than many new collectors realize. I mentioned some general issues and types that could be found in the $1,000-2,500 range that I felt were interesting and good values. I'd like to expand this idea and discuss twenty specific rare coins that can be purchased for $5,000 or less. 1. 1865 Gold Dollar. Unlike the low mintage gold dollars from the 1880's, this Civil War issue was actually used in commerce. Only 3,700 business strikes were produced and just a few hundred ... Click for coin article
Are coins undervalued as an asset class?, coinvaluesonline.com
In early June, several coin dealers wrote blogs that compared the coin market to the art market – a topic that seems to come up every few years. To be sure, the overall coin market is small compared with the global art market, although the frequency of $1 million coins trading hands has increased rapidly over the past decade. On May 29, Laurie Sperber of Legend Numismatics wrote that when compared to other asset classes like art, gems or watches, coins "are so cheap relative to other ‘collectable' areas it seems like they are forever ‘on sale.' " Sperber cited the 1907 Indian Head, Normal Edge gold $10 eagle ... Click for coin article
India Sees Coin Denomination Die, numismaster.com
People in the United States are spoiled in regards of their currency. No matter the age of a coin or bank note, as long as it was issued by the federal government, it is still legal tender ... This isn't true regarding coins and bank notes elsewhere in the world. Bank notes are often demonetized when a government or its financial system changes. Coins can sometimes retain acceptance because of their intrinsic value, rather than their legal tender value. But, a coin comprised of a base metal that is demonetized is unlikely to retain any value. This appears to be what will happen to the 25-paise coin on June 29 in India ... Click for coin article
NGC Ancients: The Roman Civil War of A.D. 68–69, Year of Five Emperors, ngccoin.com
This year marks the 150th anniversary of the beginning of the American Civil War. The concept of civil war was quite familiar to the ancient Romans as well — with this in mind, NGC Ancients examines the five emperors who battled for control of an empire during the Roman Civil War of A.D. 68–69. By A.D. 68, it was clear that the government of the emperor Nero was on the verge of collapse. Years of promiscuous, unflattering, and ultimately expensive behavior had steadily eroded support for the emperor both in Rome and, more importantly, in the provinces. This silver denarius, issued in A.D. 64-65 ... Click for coin article
Ipswich Museum buys Iron Age gold coins for £316,000, bbc.co.uk
The Wickham Market Hoard of 840 coins was found three years ago in Suffolk. A hoard of Iron Age gold coins found in a pot in a Suffolk field in 2008 is to go on display in Ipswich. More than £316,000 has been raised to buy the 840 coins and display and conserve them at Christchurch Mansion. The Heritage Lottery Fund donated £225,900 towards purchasing the coins, which go on display from Wednesday. Caroline McDonald, Ipswich Museum curator of archaeology, said: "They're hugely significant - it's a once in a lifetime discovery." Ms McDonald said the find, made in Dallinghoo near Woodbridge, was the largest existing hoard of gold iron age coins in England ... Click for coin article
Thanks for reading!
