Lot | Year | NC # | Rarity | Grade | Estimated/Realized |
4 | 1793 | NC-1 | R8 | BS1+ | $10,000/$25,000 |
7 | 1793 | NC-2 | R8+ | PCGS Fair 2 | $150000/$230,000 |
8 | 1793 | NC-3 | R8- | PCGS G4 | $150,000/$190,000 |
15 | 1793 | NC-4 | R7+ | G6 | $10,000/$24,000 |
17 | 1793 | NC-5 | R8+ | EF45 | $1,000/$5,500 |
25 | 1793 | NC-6 | R8 | G4+ | $20,000/$35,000 |
29 | 1794 | NC-4(S-17b) | R8 | AG3+ | $10,000/$23,000 |
34 | 1794 | NC-7(S-20a) | R8+ | G4 | $10,000/$22,000 |
40 | 1794 | NC-8 | R8- | F12 | $20,000/$24,000 |
41 | 1794 | NC-11 | R8 | VG8 | $20,000/$23,000 |
57 | 1794 | NC-1 | R7+ | G5 | $10,000/$12,500 |
64 | 1794 | NC-2 | R8 | VG10 | $20,000/$46,000 |
70 | 1794 | NC-10 | R8+ | F12 | $20,000/$51,250 |
72 | 1794 | NC-5 | R8 | AG3 | $20,000/$23,000 |
77 | 1794 | NC-9 | R8- | G5 | $20,000/$14,000 |
78 | 1794 | NC-9 | R8- | AG3 | $20,000/$11,000 |
106 | 1794 | NC-6 | R8 | F12 | $30,000/$35,000 |
115 | 1794 | NC-3 | R8 | F12 | $20,000/$52,000 |
122 | 1795 | NC-2 | R8 | AG3 | $10,000/$13,500 |
123 | 1795 | NC-3 | R7 | AG3+ | $5,000/$7,000 |
129 | 1795 | NC-1 | R8+ | PCGS F15 | $50,000/$80,000 |
130 | 1795 | NC-1 | R8 | Fair 2 | $20,000/$32,000 |
132 | 1795 | NC-4 | R8+ | Fair 2 | $20,000/$22,000 |
133 | 1795 | NC-4 | R8+ | G5 | $30,000/$28,000 |
149 | 1796 | NC-1 | R6 | VG7 | $4,000/$3,900 |
150 | 1796 | NC-1 | R6 | VG8 | $5,000/$3,300 |
156 | 1796 | NC-2 | R7 | VG10 | $10,000/$9,250 |
159 | 1796 | NC-3 | R6+ | VF30 | $20,000/$21,000 |
160 | 1796 | NC-3 | R6+ | VG10 | $8,000/$7,250 |
169 | 1796 | NC-4 | R5+ | F15 | $10,000/$7,500 |
170 | 1796 | NC-4 | R5+ | VG8 | $4,000/$3,700 |
188 | 1796 | NC-5 | R7 | AG3 | $4,000/$6,500 |
201 | 1796 | NC-6 | R8 | AG3 | $10,000/$15,500 |
205 | 1796 | NC-7 | R8 | PCGS Fair 2 | $20,000/$27,000 |
208 | 1797 | NC-1 | R7 | G6 | $7,500/$8,250 |
218 | 1797 | NC-2 | R6 | VG8 | $3,000/$4,200 |
219 | 1797 | NC-2 | R6 | VG10+ | $5,000/$4,600 |
220 | 1797 | NC-3 | R6- | G5 | $2,000/$2,900 |
221 | 1797 | NC-3 | R6- | VG8 | $3,000/$4,200 |
236 | 1797 | NC-8 | R8+ | VF20+ | $25,000/$36,000 |
240 | 1797 | NC-7 | R8+ | VG7 | $25,000/$34,000 |
243 | 1797 | NC-6 | R8 | G4 | $10,000/$15,500 |
248 | 1797 | NC-4 | R8- | AG3 | $10,000/$12,500 |
258 | 1797 | NC-5 | R6 | G6 | $2,000/$2,600 |
259 | 1797 | NC-5 | R6 | VG8+ | $4,000/$4,200 |
283 | 1798 | NC-1 | R7+ | AG3 | $5,000/$4,400 |
286 | 1798 | NC-2 | R7+ | VG8 | $15,000/$18,000 |
287 | 1798 | NC-2 | R7+ | VG8 | $20,000/$18,500 |
348 | 1799/8 | NC-1 | R7 | F12 | $50,000/$57,500 |
356 | 1800/1798 | NC-6 | R6+ | F15+ | $10,000/$8,750 |
357 | 1800/1798 | NC-5 | R8- | VG10+ | $15,000/$25,000 |
367 | 1800/179 | NC-1 | R8- | VG10 | $15,000/$27,000 |
368 | 1800/179 | NC-2 | R6+ | VG7 | $3,000/$2,100 |
369 | 1800/179 | NC-2 | R6+ | VG8 | $2,000/$2,300 |
377 | 1800 | NC-3 | R6- | VG8 | $1,500/$2,400 |
394 | 1800 | NC-4 | R7 | EF40 | $20,000/$22,000 |
395 | 1800 | NC-4 | R7 | Fair 2 | $4,000/$2,400 |
407 | 1801 | NC-1 | R5+ | F12+ | $5,000/$4,600 |
415 | 1801 | NC-2 | R7 | F15 | $15,000/$14,500 |
416 | 1801 | NC-2 | R7 | BS1+ | $1,000/$2,300 |
417 | 1801 | NC-5 | R7+ | AG3 | $10,000/$12,000 |
424 | 1801 | NC-4 | R7 | VG8 | $5,000/$6,750 |
427 | 1801 | NC-3 | R6+ | VG10 | $5,000/$8,000 |
438 | 1802 | NC-1 | R5+ | G5 | $500/$675 |
439 | 1802 | NC-1 | R5+ | EF45 | $15,000/$14,500 |
445 | 1802 | NC-2 | R6 | VF25+ | $10,000/$9,000 |
493 | 1803 | NC-1 | R5+ | VG7 | $1,000/$650 |
494 | 1803 | NC-1 | R5+ | F15+ | $7,500/$6.250 |
Archive for the ‘large cents’ Category
Prices Realized for the Noncollectible Large Cent Varieties from the Dan Holmes’ Collection
Posted in Chris McCawley and Bob Grellman, Dan Holmes Large Cents, Gammill Numismatics, Ira and Larry Goldberg, large cents, Noncollectible large cent varieties, Prices Realized for Noncollectibles from the Dan Holmes' Collection, tagged Prices Realized for the Noncollectible Large Cents from the Dan Holmes' Collection on September 9, 2009| Leave a Comment »
Dan Holmes’ Sale Yields First Million Dollar Large Cent
Posted in Chris McCawley and Bob Grellman, coin condition, coin investments, collector investments, Dan Holmes Large Cents, Gammill Numismatics, Ira and Larry Goldberg, key date investments, large cents, Million dollar coin, Million Dollar Large Cent, Noncollectible large cent varieties, numismatics, rare coin investment, Stand Alone Coins for Investments, tagged 1793 Sheldon-14, 1795 Reeded Edge Sheldon-79, 1804 Sheldon-266c, H Graig Hamling, Million dollar coin, million dollar large cent video, Mint State 1799 Sheldon-189, Sheldon-Holmes Color Set on September 7, 2009| Leave a Comment »
Part I, the” EARLY DATES”, of the Dan Holmes Large Cent Auction has elevated several of those special Early American Coppers to a new height. The legendary 1795 Reeded Edge Sheldon-79 brought $1,260,000 (with the 15% buyer’s commission); a new record price paid for any US Large Cent. For a video replay of this lot use this link(1). Apparently purchased by a dealer for a serious large cent copper specialist. However, it wasn’t the only star amongst the group. Lot 352, the Mint State 1799 Sheldon-189, considered by many to be the most valuable large cent in the auction, came in a close second at $977,500 (including the commission). Marvelous results for all Large Cent collectors and investors.
But that’s only the beginning. Lot 24, the Finest Known Bisected Obverse 1793 Sheldon-14 was hammered down at $506,000 including the buyer’s commission. Then there was Lot 531which was the Unique Certified Mint State 1804 Sheldon-266c graded MS 63 BN by PCGS that fell at $661,250 with the commission.
The Sheldon-Holmes Color Set which consisted of 6 Colonials and 60 Large Cents sold for $37,950 with the 15% commission.
We will have a more detailed analysis as we digest the results. Congratulations Dan and Family, Ira and Larry, and of course Chris and Bob.
(1) Video Courtesy of H Craig Hamling.
Noncollectible Large Cent Varieties in the Dan Holmes’ Collection
Posted in Dan Holmes Large Cents, Gammill Numismatics, Ira and Larry Goldberg, large cents, Noncollectible large cent varieties, numismatics, tagged 1794 NC-9, 1795 "Unique" Jefferson Head NC-4, 1800 NC-4 EDS, Bob Grellman, Chris McCawley, Dan Holmes’ Collection, Gammill Numismatics, Ira and Larry Goldberg’s auction, Jefferson Head 1795 NC-1, Noncollectible large cent varieties on August 26, 2009| Leave a Comment »
Ira and Larry Goldberg’s auction of the Dan Holmes collection of Large Cents, in collaboration with Chris McCawley and Bob Grellman, will offer the large cent collector an opportunity to bid on a total of 68 NC varieties. There are 55 NC varieties recognized by collectors and Dan was able to assemble 54 of the 55. The one missing from his collection is the unique (1795 NC -5) which is located in the American Numismatic Societies Museum in NYC.
In Dan’s collection of NC varieties there are 14 coins where there are duplicates. Several of those NC varieties are of considerable interest and value. For example, Lots 77 and 78 are examples of the 1794 NC-9, R7+. Lot 77 is net graded Good-5 but the reverse vertical die crack is very weak (EDS, Breen state 1). In the case of Lot 78, net graded About Good-3, the sharpness is slightly better and the reverse die crack is very strong indicating its LDS. There are only four known examples of the 1794 NC-9 variety, two of which are in Holmes’ auction. The census of these four examples are, 7-6-5-3. The estimated value of these two lots is in the $20,000 range. The VG-6 example was sold in February 2008 by Superior Galleries for $36,500.
Lots 129 and 130 offer two examples of the Jefferson Head 1795 NC-1, R8+. Lot 129 is the “Unique” Thick Planchet Jefferson Head with Lettered Edge of 1793. One of only three examples of the 1795 NC-1 and the only one struck on a thick planchet. Graded by PCGS as Fine-15 and by McCawley/Grellman as Fine-12. Estimated value for Lot 129 is $50,000. Lot 130 is the thin planchet example of the NC-1 of which there are only two known examples. Lot 130 grades as a Fair-2 with an estimated value of $20,000. The second example has a grade of VF-20.
Lots 132 and 133 are also a pair of Jefferson Head NCs. Lot 132 is the 1795 “Unique” Jefferson Head NC-4 (R8+) Thick Planchet Overstruck on a 1795 NC-1. The coin is holed at the top of the head but is the second finer of only two known for the variety and grades Fair-2. It is also unique that it is overstruck on an NC-1 thick planchet! This varieties estimated value is $20,000 and UP. This is truly a unique specimen. Lot 133 is another “Unique” Jefferson Head NC-4. This Jefferson Head is struck on a Thin Lettered Edge Planchet and grades Good-5. The estimated value of this NC-4 is $30,000.
There is also Lots 394 and 395. Lot 394 features an Outstanding 1800 NC-4 EDS. It is the finest known of eight examples in all die states. It grades EF-40 and is the Noyes plate coin. Estimated value is $20,000. Lot 395 is the 1800 NC-4 in MDS and grades Fair-2. Estimated value is $4,000.
A complete listing of the NC varieties is listed in the table below. It offers a unique opportunity for the large cent specialist.
Table: A listing of the NC varieties in the Dan Holmes Collection being offered by Ira and Larry Goldberg on September 6, 2009.
Lot |
Year |
NC # |
Rarity |
Grade |
Estimated Value |
Realized (+15%) |
4 |
1793 |
NC-1 |
R8 |
BS1+ |
$10,000 |
$28,750 |
7 |
1793 |
NC-2 |
R8+ |
PCGS Fair 2 |
$150,000 |
264,500 |
8 |
1793 |
NC-3 |
R8- |
PCGS G4 |
$150,000 |
218,500 |
15 |
1793 |
NC-4 |
R7+ |
G6 |
$10,000 |
27,600 |
17 |
1793 |
NC-5 |
R8+ |
EF45 |
$1,000 |
6,325 |
25 |
1793 |
NC-6 |
R8 |
G4+ |
$20,000 |
40,250 |
29 |
1794 |
NC-4(S-17b) |
R8 |
AG3+ |
$10,000 |
|
34 |
1794 |
NC-7(S-20a) |
R8+ |
G4 |
$10,000 |
|
40 |
1794 |
NC-8 |
R8- |
F12 |
$20,000 |
|
41 |
1794 |
NC-11 |
R8 |
VG8 |
$20,000 |
|
57 |
1794 |
NC-1 |
R7+ |
G5 |
$10,000 |
|
64 |
1794 |
NC-2 |
R8 |
VG10 |
$20,000 |
|
70 |
1794 |
NC-10 |
R8+ |
F12 |
$20,000 |
|
72 |
1794 |
NC-5 |
R8 |
AG3 |
$20,000 |
|
77 |
1794 |
NC-9 |
R8- |
G5 |
$20,000 |
|
78 |
1794 |
NC-9 |
R8- |
AG3 |
$20,000 |
|
106 |
1794 |
NC-6 |
R8 |
F12 |
$30,000 |
|
115 |
1794 |
NC-3 |
R8 |
F12 |
$20,000 |
|
122 |
1795 |
NC-2 |
R8 |
AG3 |
$10,000 |
|
123 |
1795 |
NC-3 |
R7 |
AG3+ |
$5,000 |
|
129 |
1795 |
NC-1 |
R8+ |
PCGS F15 |
$50,000 |
|
130 |
1795 |
NC-1 |
R8 |
Fair 2 |
$20,000 |
|
132 |
1795 |
NC-4 |
R8+ |
Fair 2 |
$20,000 |
|
133 |
1795 |
NC-4 |
R8+ |
G5 |
$30,000 |
|
149 |
1796 |
NC-1 |
R6 |
VG7 |
$4,000 |
|
150 |
1796 |
NC-1 |
R6 |
VG8 |
$5,000 |
|
156 |
1796 |
NC-2 |
R7 |
VG10 |
$10,000 |
|
159 |
1796 |
NC-3 |
R6+ |
VF30 |
$20,000 |
|
160 |
1796 |
NC-3 |
R6+ |
VG10 |
$8,000 |
|
169 |
1796 |
NC-4 |
R5+ |
F15 |
$10,000 |
|
170 |
1796 |
NC-4 |
R5+ |
VG8 |
$4,000 |
|
188 |
1796 |
NC-5 |
R7 |
AG3 |
$4,000 |
|
201 |
1796 |
NC-6 |
R8 |
AG3 |
$10,000 |
|
205 |
1796 |
NC-7 |
R8 |
PCGS Fair 2 |
$20,000 |
|
208 |
1797 |
NC-1 |
R7 |
G6 |
$7,500 |
|
218 |
1797 |
NC-2 |
R6 |
VG8 |
$3,000 |
|
219 |
1797 |
NC-2 |
R6 |
VG10+ |
$5,000 |
|
220 |
1797 |
NC-3 |
R6- |
G5 |
$2,000 |
|
221 |
1797 |
NC-3 |
R6- |
VG8 |
$3,000 |
|
236 |
1797 |
NC-8 |
R8+ |
VF20+ |
$25,000 |
|
240 |
1797 |
NC-7 |
R8+ |
VG7 |
$25,000 |
|
243 |
1797 |
NC-6 |
R8 |
G4 |
$10,000 |
|
248 |
1797 |
NC-4 |
R8- |
AG3 |
$10,000 |
|
258 |
1797 |
NC-5 |
R6 |
G6 |
$2,000 |
|
259 |
1797 |
NC-5 |
R6 |
VG8+ |
$4,000 |
|
283 |
1798 |
NC-1 |
R7+ |
AG3 |
$5,000 |
|
286 |
1798 |
NC-2 |
R7+ |
VG8 |
$15,000 |
|
287 |
1798 |
NC-2 |
R7+ |
VG8 |
$20,000 |
|
348 |
1799/8 |
NC-1 |
R7 |
F12 |
$50,000 |
|
356 |
1800/1798 |
NC-6 |
R6+ |
F15+ |
$10,000 |
|
357 |
1800/1798 |
NC-5 |
R8- |
VG10+ |
$15,000 |
|
367 |
1800/179 |
NC-1 |
R8- |
VG10 |
$15,000 |
|
368 |
1800/179 |
NC-2 |
R6+ |
VG7 |
$3,000 |
|
369 |
1800/179 |
NC-2 |
R6+ |
VG8 |
$2,000 |
|
377 |
1800 |
NC-3 |
R6- |
VG8 |
$1,500 |
|
394 |
1800 |
NC-4 |
R7 |
EF40 |
$20,000 |
|
395 |
1800 |
NC-4 |
R7 |
Fair 2 |
$4,000 |
|
407 |
1801 |
NC-1 |
R5+ |
F12+ |
$5,000 |
|
415 |
1801 |
NC-2 |
R7 |
F15 |
$15,000 |
|
416 |
1801 |
NC-2 |
R7 |
BS1+ |
$1,000 |
|
417 |
1801 |
NC-5 |
R7+ |
AG3 |
$10,000 |
|
424 |
1801 |
NC-4 |
R7 |
VG8 |
$5,000 |
|
427 |
1801 |
NC-3 |
R6+ |
VG10 |
$5,000 |
|
438 |
1802 |
NC-1 |
R5+ |
G5 |
$500 |
|
439 |
1802 |
NC-1 |
R5+ |
EF45 |
$15,000 |
|
445 |
1802 |
NC-2 |
R6 |
VF25+ |
$10,000 |
|
493 |
1803 |
NC-1 |
R5+ |
VG7 |
$1,000 |
|
494 |
1803 |
NC-1 |
R5+ |
F15+ |
$7,500 |
2009 ANA Summer Seminar on Advanced United States Coin Grading and Problem Coins. A Critique.
Posted in coin condition, coin investments, collector investments, Economy, Gammill Numismatics, Grading, Grading problem coins, Half Cents, Hard Times Tokens, knowledge is power, large cents, rare coin investment, shield nickels, Stand Alone Coins for Investments, tagged advanced grading, ANA, Bill Shamhart, CAC, Charles Browne, coin education, coin grading, coin marketplace, collectible space, colorado springs, famous coins, founder of NGC, John Albanese, John Dannreuther, knowledge is power, Lane Brunner, numismatic education, numismatic experts, numismatic innovators, numismatic research, pcgs grader, problem coins, professional philosophy, summer seminar, William Shamhart on July 28, 2009| Leave a Comment »
Instructors: William Shamhart, Jr., Charles Browne, Lane Brunner, John Dannreuther & John Albanese
Week of July 4, 2009
If you aren’t familiar with the five names above, you should make a concerted effort to find out who they are and where you might meet and learn from their years of experience in numismatics. These gentlemen have a strong background in numismatic research, the marketplace, pricing and “grading” some of the most famous collector coins that have appeared in the market during the last 20-30 years. Of course, these were the gentlemen who taught the ANA’s Advanced United States Coin Grading and Problem Coins class out in Colorado Springs during the second session of this year’s ANA’s summer seminar series.
Bill Shamhart has been teaching advanced grading out at the ANA during the summer seminar series for a number of years and always brings along an “all star” roster of graders, numismatic experts and innovators in the hobby. Of course, Bill heads up the class and is a demanding mentor with the students’ best interest always out front. He is nothing less than a consummate professional whose philosophy is deeply seated in education.
Charles Browne is likewise a most respected PCGS grader and summer instructor with magnificent grading skills and a more than unique ability to explain the subtlety between that PF 66 and PF 67. Charlie also has a very enjoyable personality which enables him to readily share his strong fundamental understanding of market grading and the market place. He also has a mature and profound knowledge of the field of numismatics.
John Albanese, as most of you know, is the president of CAC. He was also one of the co-founders of PCGS and founder of NGC. He is a soft-spoken individual who is easy to engage and discuss grading and answer your questions. He is a man of many interests and seems to be one of the few who are able to see the “big picture” in the “collectibles space”. What an opportunity we had to have him there as an instructor for the week! It was a unique occasion to learn firsthand his insight into creating that little green “CAC” sticker. In addition, we benefited from his one-on-one instruction about grading which was an experience in itself. He was indeed, as they all were, splendid gentlemen with education at the top of their agenda.
Dr. Lane Brunner has served several positions with the ANA. Lane has a sharp and critical eye when it comes to grading high end coins and spotting coins that have problems of every description. His natural teaching skills were evident in our one-on-one examination of coins and explanation of problems that were present on many of the coins.
Finally, there was John Dannreuther, one of the co-founders of PCGS, a well-known world class researcher, author, consultant and rare coin dealer. John was just a wealth of information and enthusiastically shared his personal experiences in the business, as well as, some of his unpublished results regarding the minting process and in particular about proof coinage. His attention to detail during our one-on-one exercises was truly informative. John is currently working on his opus on proof gold coins and gave an excellent lecture on the production of proofs. What a wealth of information!
John, or JD as we learned to call him, rounded out a particularly unique gathering of instructors of exceptional caliber for our one week course.
All of these fellows have been around the business for a while (sorry for that guys), but as I am sure Bill would say……’the truth sometime hurts’. These gentlemen are to be applauded for donating their time and energy so their students will not only be better at grading and detecting problem coins, but will also continue the generous giving of time and energy to numismatics through their example.
These instructors have seen, and in fact, been part of a lot of the change we have all seen during the last twenty years or so in our hobby. Their accomplishments range from the founding of the two most successful grading services and subsequent innovations, such as CAC, participating in numismatic service organizations, publishing articles, reference books and teaching. Finally, they have been successful dealers who have prospered through ethical practices and survived the chaotic markets that occurred during the late 70’s and early 80’s.
From a historical perspective, these gentlemen’s mentors and current colleagues are among the greatest names in 20th century US numismatics. I am sure that in future years, all the students in this class will delight in the fact that they sat in the room with these men for a week and were able to discuss the timely developments of grading, the coin market itself and contemplate the future of our hobby.
Now some comments about the class and its content.
There were twenty five students in the class, including one YN. We had five instructors for almost every exercise we conducted with one-on-one follow-up. The line of attack in the class was simple: we were to look at and evaluate as many coins in 5 days as possible, and then be able to gain a consensus within a group setting about the grade of those coins. I think we saw most US type coins (in copper, silver and gold) and in grades from AU 58 to MS 68 as well as a good number of proof issues.
Not stopping with the grade, you had to determine the method of manufacture (mint state or proof), color designation for copper, other designations such as PL, DMPL, cameo, ultra cameo, FH, FBL, FSBs, FS, as well as, whether the coin had been lightly dipped (and thus graded) or harshly dipped and a “no grade”, cleaning (heavy vs light hairlines), re-colored or doctored to cover scratches or spots….and so own. All the coins were either PCGS or NGC to the best of my recollection.
We broke up into five groups with one instructor assigned to each group. Then the fun began. “Number you papers from one to thirty” came the directive from one of the instructors. Another instructor might tell us that we have 30 seconds to inspect each coin and then must pass it to our neighbor. They reminded us to go with our first impression using only the naked eye and then if you see a problem use your loupe. A loupe was also appropriate for the smaller coins. It seemed as if we were off to the races…and in fact we were!
Coins were passed around the group; you recorded your grade; and after everyone had graded the coins, we begin an in-depth evaluation of the coins. The objective was to arrive at some consensus regarding the grade within the group. All the while, we were getting feedback from our table instructor in the way of questions, comments and tips such as, you might want to look at that coin one more time (since you clearly missed something the first time). The greatest learning tool was in the effort to gain consensus regarding a grade. This was the process that exposed everyones thoughts about the grade of the coins and thus provided the forum for disussion with the each other as well as the instructor.
At first, it was hectic but as that first day progressed I think most of us fell into a rhythm that at least helped everyone get to the second day. Then it started all over again on day two.
We were looking at a lot of different coins and were processing a lot of information in a very short period of time. In the first couple of exercises the grade spread within a given group might be from AU 58 to MS 65 or higher. The objective of the class was to narrow that range down to the correct grade, or to be at least only one point away. Despite the hectic nature of the process the composure and positive instruction from the instructors resulted in little anxiety associated with the process after the first day. We were now on a steep learning curve and had nothing but critical information to gain. This realization, I think, was a big turning point in the class. Now, we had nothing to lose so to speak, but everything to gain. So listen and learn!
As the week progressed, each groups’ consensus grade became tighter and we also gained a much better understanding of A, B and C coins within a grade. This is something John expanded on with regard to certified coins getting those little green “CAC” stickers.
All in all it was a great week and is among the strongest classes I have seen the ANA summer seminar series offer in many years. There were several people that signed up for the class next year before leaving Colorado Springs at the end of the week. That says an awful lot about the instructors and class content. I don’t know of another place where you could gain this type of information from a fine group of experts. I might also mention, there were several students in the class that had taken the class in previous years (as in last year).
If you have the opportunity and are interested in grading ,be sure to look into this class. You must have completed the Beginning and Intermediate grading classes before you can get into this advanced class.
Remember: Eye Appeal and Luster are the two things that your eyes see first when looking at a coin and thus represents that critical first impression. Eye appeal and luster are the top factors being considered in market grading and thus pricing.
We were constantly reminded that with market grading, eye appeal adds a little, but forgives a lot.
China, Counterfeit US Coins & Holders. Best Strategy Moving Forward.
Posted in coin condition, counterfeit coins from China, knowledge is power, large cents, Uncategorized, tagged 1877 indian head cent, 1909 S VDB Lincoln Cent, buffalo nickels, buy the coin, China, chinese counterfeits, chinese mints, colonial, counterfeit error coins, die characteristics, education, error coins, fujian province, gold coins, guangdong province, Half Cents, indian head cents, large cents, lincoln cents, morgan dollars, ngc counterfeit holders, Paper money, pcgs counterfeit holders, peace dollars, Standing Liberty Quarters on May 19, 2009| Leave a Comment »
There are reportedly a hundred mints in China rapidly producing counterfeit United States coins that are infiltrating our borders hoping to find a home with some unsuspecting US collector. Most of these coins are coming from the two southern Chinese provinces of Fujian and Guangdong. This problem has been going at an ever increasing rate since the end of 2007 and earlier. However, now that the Chinese have technology and minting presses from the US, this problem will force us to a “New Educational Level” to prevent and protect collectors and dealers from buying these worthless reproductions of our historic numismatic past.
The Chinese are busy making everything from Colonials, Half Cents, Large Cents, Indian Head Cents, Buffalo Nickels, Standing Liberty Quarters, Morgan, Peace and Trade Dollars, all dominations of Gold coins and paper money. Their technology is rapidly is improving rapidly improving as well as mastering the color of our early copper coins.
One of their newest entries is the production of “error coins”, an area in which they know very well the passion US collectors have for these unique items. And to be honest, they are getting better and better at producing these counterfeits. The machinery they are using is becoming, if not already, state of the art. Their dies are improving, the strikes are improving and with copper coins, they are moving rapidly to getting the color right.
To make life a little more complicated, the Chinese have now introduced counterfeit PCGS and NGC holders into our marketplace. At present, it appears that these counterfeit holders, as you would expect, contain counterfeit coins, however, that is likely to change in the near future if it hasn’t already. At some point they will be putting authentic over-graded coins in these holders. For example, an AU-50 1909 S VDB in a PCGS or NGC holder graded MS 63. Or just as easily it could be a Fine 1877 Indian Head Cent graded EF 40 or EF 45. The point is that there is a lot of money to be made by using this combination of authentic coin and counterfeit holder. Grade inflation is already a major problem as we continue to evolve within the arena of market grading.
I guess these events reminds us all that it wise to buy the coin and not the holder…..buy the book, then the coin. In this case, buy a good book on detecting counterfeit coins (see book list below). Our best protection regarding these commonly counterfeit rarities is to know the die characteristic of the authentic coin and not worry so much about what the counterfeit coin looks like. If you are looking at a 1909 S VDB Lincoln and the “S” mint mark does not have the characteristics of the authentic “S”…..you most likely have a bad coin. There are exceptions. Some counterfeiters have been able to duplicate the “S” mint mark on the 1909 S VDB Lincoln so secondary characteristics of the die are required. Don’t depend on one particular die characteristic but look at two or three to be conclusive. Know what the real coin looks like and have a good reference library and you will be able to discard as many counterfeits as they through your way. Just remember, a second opinion is always important when dealing with counterfeits. Fine a dealer you can work with and that you have confidence in to help you.
The best people to help you are people that have had extensive interactions (on site classes) with the ANA (Colorado Springs), the ANS (New York City), Professional Numismatic Guild (PNG), NLG (Numismatic Literary Guild), professional grading services such as PCGS, NGC and ANACS. These are the people with the greatest amount of experience that can help you the most.
Upcoming educational events on the topic of Chinese Counterfeit coins.
Facing the Chinese Counterfeiting Threat – August 4, 9 a.m.-1 p.m.; August 5, 1-5 p.m. Counterfeit coins and slabs made in the People’s Republic of China are pouring into the marketplace in unprecedented numbers. Access to Western technology means that the counterfeiters are able to produce high-quality fakes. In this two-day seminar, learn to protect yourself by becoming a smart online customer, and learn how to use simple, inexpensive tools to authenticate your own coins. Instructors: Susan Headley, numismatic journalist and counterfeit expert; Beth Deisher, editor, Coin World; and Dr. Gregory Dubay, noted Chinese counterfeit expert.
ANA Member Price: $149 through July 1; $169 after.
Links to Coin World articles describing the Chinese Counterfeit activity can be found on the Web through Google.
THE FOLLOWING LIST OF BOOKS ON COUNTERFEIT DETECTION WILL HELP YOU GET STARTED WITH A NICE LIBRARY FOR DEALING WITH THIS PROBLEM.
1. Fivaz, Bill; United States Gold. Counterfeit Detection Guide. Whitman Publishing , LLC, 3101 Clairmont Road, Suite C, Atlanta, GA 30329. (2005)
2. Official Guide to Coin Grading and Counterfeit Detection. Professional Coin Grading Service (PCGS) Staff. Second Edition. (2004)
3. Larson, Charles M.; Numismatic Forgery. (2004)
4. Fivaz, Bill; Counterfeit Detection Guide. (2001)
5. Counterfeit Detection: A Reprint from the Numismatist, Vol I. American Numismatic Association, Box 2366, Colorado Springs, CO 80901. (1983)
6. Counterfeit Detection: A Reprint from the Numismatist, Vol II. American Numismatic Association, 818 North Cascade Avenue, Colorado Springs, CO 80903. (1988)
7. Hancock, Virgil; Spanbauer, Larry; Standard Catalog of Counterfeit and Altered United States Coins. Sanford J. Durst, Numismatic Publications, New York, N.Y. (1979)
8. Devine, John; Detecting Counterfeit Gold Coins, Book II; Heigh-Ho Printing Co., 3477 Old Conejo Road C-7, Newbury Park, CA 91320. (1977; Sixteenth Printing in 1980)
9. Taxay, Don; Counterfeit & Unofficial Misstruck U.S. Coins. (1976)
10. Devine, John; Detecting Counterfeit Coins, Book I; Heigh-Ho Printing Co., 3477 Old Conejo Road, Newbury Park, CA 91320. (1975)
11. Dieffenbacher, Alfred; Counterfeit Gold Coins, Nineteenth and Twentieth Centuries (Fully Illustrated); Dieffenbackher Coin BTD. Montreal, Canada. (1963)
COIN COLLECTING IN THIS ECONOMY. WHAT’S A COLLECTOR TO DO?
Posted in coin condition, coin investments, collector investments, Gammill Numismatics, key date investments, knowledge is power, large cents, numismatics, tagged ANA, ANACS, coin collecting in this economy, coin inventory, coin show attendance, coin varieties, counterfeit coins, digital photo of important coins, economic front, grade inflation, grading coins, grading criteria, home security, kentucky state quarter cud, key date coins, market grading, NGC, numismatic books, numismatic library, PCGS, reading and research on coins, state quarters, stereo microscope on September 19, 2008| Leave a Comment »
The number of coin collectors has really grown since the launch of the State Quarter program in 1999. It is great to once again be able to check your pocket change each evening in hopes of finding a much needed coin to add to your collection….and, at face value. The number of grandparents assembling sets of the state quarters for their grandkids must be a staggering number. Everyone is enjoying this old fashion approach to coin collecting and the hobby is enjoying both new and renewed interest from collectors of all walks of life.
2001 Kentucky State Quarter with Reverse CUD and Polish Marks. Rare Error Quarter. Be sure to check your pocket change for this gem!
However, since 1999 things have changed dramatically on the economic front. If you have been attending coin shows for the last couple of years, particularly the smaller local club shows throughout the country, you might have noticed that attendance is down. In reality, things don’t seem much better at a lot of the larger shows. All too many collectors just don’t have the extra income today to continue adding to their collections as they had in past years. There has really been a loss of activity amongst collectors who live on a fixed income, have lost jobs, or have just had to watch their family budgets so much more closely than in times past.
So what does this mean to the hobby? Pulling state quarters from circulation continues to be exciting but novice collectors as well as seasoned collectors become disenchanted with the same old thing and soon lose interest. In addition, many new and old collectors are almost encouraged to leave the hobby because the US Mint keeps raising prices on an endless number of products. Should we have to pay a premium for US half dollars or rolls of state quarters? Maybe when the economic environment improves and collector’s disposable income returns they will return to the hobby. Unfortunately, when these collectors take a leave of absence, a large number of them don’t come back! Also, who knows when this economy is going to straighten out?
What can collectors do during tough economic times to maintain a strong energetic interest in coin collecting and most importantly their own collections? Let me make a couple of suggestions that will certainly enhance your knowledge of both collecting and give you added information about your existing collection. All in all, you will be a much more astute collector.
First, many collectors are so busy assembling a collection that they rarely have, or take the time, to actually study in any detail what they are collecting. Of course this certainly isn’t true for all collectors, but we have all purchased a coin or book with very good intention of doing more with it, but the time never presents itself. Of course we have all heard the old saying, “buy the book before the coin”. This is very good advice but most collectors are to impatience to take this to heart. There is always the rush to make the purchase.
Now, is a good time to do some reading and research on what you have purchased and what is left to be purchased for your collection if you are working on a series collection or type set. If you are a member of the ANA you have a number of great resources at your disposal. They have a world class library for your use, available online or through the mail. Most state and local clubs also have libraries available for your use. Read about the coins in your collection. You may even find that there are some interesting varieties in your collection that you haven’t yet discovered (see 1798 large cent variety (S-148, Horned 9) to the right.
There are also some very informative books which discuss the history of coins, the engravers who designed them and the circumstances under which they went into production.
You might also want to check for counterfeits, particularly the key dates in your collection. The ANA has published several excellent books on the subject to help guide you and determine if your coin is authentic. You can also have one of the third party grading services authentic your key dates as well (PCGS). It is always wise to purchase key date coins that are known to have been heavily counterfeited (1877 Indian Head Cent; 1909 S VDB Lincoln cent; 1916 D Mercury dime to name a few) from dealers you know and trust or buy certified coins.
Now may be a good time to evaluate your home security. Be sure your collection is adequately insured and that your inventory is correct and up to date. Have a digital photo or video of your collection or at least of the most value coins in the collection. Make sure your home safe if both burglar and fire proof with a high safety rating. Be sure to keep your inventory list separate from your collection!
You might even consider purchasing a stereo microscope if you don’t already have one. They run about $200 and can provide hours of enjoyment in studying your coins, particularly when looking for varieties.
Evaluate your entire collection and see if there are items you might want to sell. Look for things that you may no longer have interest in that can be replaced with new items to keep your collection moving in a direction that keeps you interested.
Go to coin shows and coin shops and look at certified coins to gauge where the market grading resides. See if you can find those coins in NGC holders that have been cleaned (or conserved) that they have been graded! This might lead you to spend more time looking at PCGS coins which might be more original or as some might say, are still in their original skin.
There are many things to do to improve and continue to understand your collection. Believe me, in this economy, this is the time to do it!
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