Archive for January, 2012

Coin Replicas Banned from EBay

Posted on January 26, 2012 by No Comments

On January 19, 2012 Ebay announced that effective February 20, 2012 it will no longer allow replica coins to be listed on their site. This includes replicas or fake coins with the word copy on them.

According to Ebay this new rule is being implemented thanks to buyers and sellers request to eliminate fake coins and replicas from Ebay. Fake coins or replicas already listed on Ebay before February 20, will be allowed to remain on the site until the listing ends. However, fake coins or replicas cannot be listed after February 20, 2012.

One of the problems with Ebay listings for replicas or fake coins was that the images in the auction often times showed the word “COPY” on the coin. However, once the buyer received the replica or fake coin, the word “COPY” was no where on the actual item.

Overall, this was a great move by Ebay as these fake coins eventually make it into the marketplace. Many times collectors can get deceived thinking their buying an authentic item, when infact the item they just bought was a fake.

As of January 26, 2012 Ebay had a total of 6,001 ended listings under coins, with the word “COPY.” It had 5,269 ended listings under Coins with the word “REPLICA.” Finally, it also had 211 ended listings with coins described as being Counterfeit.

 

 

 

Filed Under: News

2011-W $50 Gold Eagle May Have The Lowest Mintage

Posted on January 19, 2012 by 3 Comments

On Tuesday January 17, 2012, the Mint sold out all 2011-W $50 Uncirculated Gold Eagles. Based off the latest Mint sales figures, the Mint had last sold a total of  8,810 coins.

If the sales figures hold true, this would make it the lowest mintage Gold Eagle in the entire series.  

The Mint currently produces three different versions of Gold Eagles. It offers a Bullion Uncirculated coin without a mint mark. Then it produces a Proof version with a “W” mint mark. Finally, since 2006 it began producing a Collector Uncirculated version with a “W” mint mark (with the exception of not being produced in 2009 and 2010).

The 2011-W $50 Uncirculated Gold Eagle first went on sale on May 05, 2011 at an issue price of $1778. if purchased directly from the U.S. Mint.

More than likely, that price was a steal since the coins may very well end up as having the lowest mintage in the entire Gold Eagle series.

Filed Under: News

$2.5 Million Ancient Coin Confiscated by N.Y. District Attorney

Posted on January 13, 2012 by 1 Comment

At the recent New York International Convention, New York District Attorneys confiscated two Greek Sicilian Ancient coins. The coins were confiscated on January 03, 2012 from the Classical Numismatic Group’s Triton XV Auction sale at the Waldford Astoria Hotel.

One of the coins was lot 1008, an Akragas Silver Dekadrachm, one of only 12 examples known. It is stimated to be worth at least $2.5 million. According to the complaint coins found in Italy after 1909 are automatically owned by the Italian Government. Several other coins from the auction were confiscated including a 4th Century B.C. Silver coin estimated to be worth about $300,000.

Once the auction took place on January 04, 2012 Eric McFadden Senior Director of Classical Numismatic Group’s London Office announced to the floor and internet bidders that the N.Y District Attorney confiscated some coins from the sale.

 

Filed Under: News

Two Different Million Dollar Plus Coins Sell at the FUN Show and more…

Posted on January 12, 2012 by No Comments

The first major auction of 2012 was held by Heritage Coin Galleries at the recent FUN Coin Show. Two major coins that made an appearance at auction were a 1793- S-4 Chain Cent graded PCGS MS65 Brown. It sold for a record $1.38 million (image on the left).

Another coin that sold for over a million dollars was the 1829 Large Date Proof $5  Half Eagle in PCGS PR64, also known as the  Garret Specimen. It also sold for $1.38 million (image on the right).

Image by Heritage Galleries

Another highlight was Dr. Steven Duckor’s 52 piece $20 Saint Gaudens Collection which sold for a total of $5.68 million.

Many other coins sold for over $100,000 including several others that fetched over $400,000. each. Overall, it was a great auction and many great rare coins sold for very strong prices. The total of the coin auction sales realized over $55 million. Not bad for the start of a new year.

 

 

Filed Under: News

Mount Hood 5 oz. Coins Sold Out

Posted on January 12, 2012 by No Comments

The collectible Mount Hood National Forest 5 oz. Uncirculated coins have officially sold out at the U.S. Mint. They sold out on Wednesday January 11, 2012. These were the last 2010 dated 5 oz. coins that remained available for this series.

The Mount Hood 5 oz. coins went on sale on July 28, 2011 with an opening price of $228.95 if purchased directly from the U.S. Mint. Initially, customers were only allowed to order one coin per household. Later the coins were reduced in price and household limits were also removed.

At the end of December, the total sales were just less than 200 coins left to meet the maximum mintage of 27,000 coins produced. However, the coins now show up as No Longer Available on the U.S. Mint web site.

 

Filed Under: News

Mint Offers 2012 ATB Silver Quarter Proof Sets

Posted on January 11, 2012 by 1 Comment

On January 10, 2012 the U.S. Mint offered its first 2012 product, which was the America the Beautiful Quarters 5 Piece Silver Proof Set.

The 5 new quarter designs honor El Yunque National Forrest of Puerto Rico, Chaco Culture National historical Park of New Mexico, Acadia National Park of Maine, Hawaii Volcanoes National Park of Hawaii and Denali National Park of Alaska.

Every coin the Proof Set bears the “S’ mint mark denoting that the coins were struck at the San Francisco Mint. All 5 quarters in the Proof Set are composed of 90% silver with approximately 0.950 ounces of silver.

The Mint is offering the 2012 Silver Proof Set at a price of $41.95. With today’s price of silver, the silver content of all 5 quarters is worth about $27.10. Indicating that the Mint is selling the coins at about $15 over the spot price of silver.

 

 

 

 

Filed Under: News

2010 Proof Set – Has the Lowest Mintage in Over 50 Years

Posted on January 10, 2012 by No Comments

The 2010-S Proof Set may have the lowest mintage for any regular Proof Set struck since 1959. The latest sales figures from the U.S Mint show the number of sets sold as 1,103,950.  The last time they sold a lower amount of sets was in 1958 when the Mint sold about 875,000.

 

If the sales hold true, the 2010-S Proof Set will have the lowest mintage in the past  52 years. The 2010-S Proof Set also has a lower mintage than the 1957 Proof Set.

The Mint only sold 2010-S Proof Sets until December 30, 2011 so the odds are that the mintages will not change much. In the meantime,  the 2010-S  Proof Set will definitely be a set that Proof Set collectors will need to keep an eye on.

 

 

Filed Under: News

The Best Coin Domains

Posted on January 6, 2012 by 1 Comment

If you could own 1 coin related domain, which one would it be?

Heres mine-

Coins.com

 

Some of my other choices-

Coin.com

PCGS.com

USCoins.com

WorldCoins.com

CoinAuctions.com

SilverCoins.com

GoldCoins.com

(Please don’t bother in checking the availability of the aforementioned domains, they, been taken for years!)

What Coin Domains would you like to own or which ones do you think are the Best Coin Domains?

 

 

 

 

 

Mint Sells 1 Million Ounces of Gold in 2011

Posted on January 6, 2012 by No Comments

The Mint managed to sell 65,500 ounces of gold in December of 2011.

For the whole year U.S. Mint customer managed to buy exactly 1 million ounces of gold eagles. The majority of the gold eagle coins sold were the 1 ounce coins, as the Mint sold 910,000 of them. The remanider of the coins were half ounce, quarter ounce and tenth ounce gold eagles.

The second most popular gold eagles were the tenth ounce reaching 370,000 in sales. Third most popular were the quarter ounce coins reaching 82,000. And the least popular was the half ounce coin with sales reaching 65,000.

The best year for Gold Eagle Bullion Sales was in 1999 when the Mint sold over 2 million.

 

Here are the Top Ten Years of Bullion Gold Eagle Sales for the U.S. Mint

1999 2,055,500

1998 1,839,500

1986 1,787,750

2009 1,425,000

1987 1,253,000

2010 1,220,500

2011 1,000,000

2008 860,500

1997 771,250

1988 560,000

 

2011 Silver Eagle Sales Nearly Reach 40 Million – A New Record

Posted on January 6, 2012 by No Comments

As of January 2010, the U.S. Mint has sold 39,868,500 total 2011 Uncirculated Silver Eagles. This is the all-time highest record for Silver Eagles sales by the U.S. Mint in a single year.

January 2011 appears to have had the best monthly sales with a total of 6,422,000 Uncirculated Silver Eagles being sold by the Mint.

Here is the monthly breakdown:

January 6,422,000

February 3,240,000

March 2,767,000

April 2,819,000

May 3,653,500

June 3,402,000

Jukly 2,968,000

August 3,769,500

September 4,460,500

October 3,064,000

November 1,384,000

December 2,009,000

The Mint sold three different types of Silver Eagles in 2011.

One was for investors which are the bullion coins.

Second coin was the proof coins which have a mint mark.

Third coins were the Burnished Uncirculated Silver Eagles for collectors with a mint mark.

 

 

 

 

 

Filed Under: PCGS

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