Now, I don't know much about how to make money, at least not how the U.S. Mint makes it. But it seems to me that if it costs more to make a coin than it's worth, that's a problem. And if the mint were to keep making a coin and selling it for less than it's really worth, people might start hoarding the coin in hopes of cashing in.That would mean the mint would have to make even more coins to keep up with rising demand. And when you're making as many coins as the U.S. Mint - 1.7 billion nickels this year, 8.7 billion pennies - and losing money on just about every one of them, that doesn't sound like a great way to make money.

OLYMPIA, Wash. -- Gov. Chris Gregoire unveiled a salmon breaching the water in front of a conifer-trimmed Mount Rainier as the flip-side design for Washington state's commemorative quarter on Thursday. Gregoire, speaking to about 30 students from Olympia's Centennial Elementary School, said the image showcased two of Washington's most famous natural features.

Numismatic Conservation Services has certified the only known example of a 1795 Flowing Hair Silver Dollar listed for years in both standard references for early dollars but not confirmed until now. This coin was struck from a marriage of two dies already known to variety specialists as being used separately for other marriages, but not until now did proof exist that this pair was actually used together.

Years after discovery of two different rim widths on 1979-P Anthony dollars, controversies continued about the varieties. The original 11-sided "security rim" was intended to distinguish the new-sized coin by its wider segments, as opposed to the even peripheral rims on all other U.S. coins. Making the entire dollar coin 11-sided had been discussed, but planners opted for the smoother roll that a round coin could achieve in a vending machine coin chute.

This year's soaring precious metals prices have caused great excitement within the already enthusiastic numismatic community, which has been riding a long-term bull market during the past three years. While significant rises in gold and silver prices bring widespread optimism throughout the entire market, falling prices cause disillusionment, even though some coins are directly affected by precious metals' price changes. A $25 per ounce increase in the gold price, for example, does not make a $10,000 rare gold coin worth $10,025.

1792 half dime among many pieces up for bid at Columbus convention A sliver of silver that once passed through the hands of George Washington and Thomas Jefferson crossed the auction block in Columbus last night, selling for more than $1.3 million. Bidding on an uncirculated specimen striking of a 1792 half dime, one of the earliest coins struck by the United States, started at $750,000 and bounced around a room of about 40 coin dealers and collectors before ending with an Internet bidder, who advanced $1.15 million for the coin.

(Irvine, CA) – One of only two known 1993-W one-ounce gold American Eagles graded a perfect PCGS Proof-70 deep cameo sold for a record $36,960 in the Teletrade® Premier Sale on April 23, 2006. “With only two 1993-W Eagles graded Proof-70, this is the rarest one-ounce gold Eagle in the PCGS Population Report. We had strong bids from 15 different people who wanted this coin, and the auction set a record price for any one-ounce American Eagle,” said Ian Russell, President of Teletrade® (www.Teletrade.com).

WASHINGTON – The United States Mint announced today that it will begin selling the 2006 United States Mint Silver Proof Set™ online and by telephone on May 10, 2006, at 12:00 noon (ET). The 2006 United States Mint Silver Proof Set features proof versions of the five 2006 commemorative quarter-dollar coins in the United States Mint’s 50 State Quarters® Program - honoring Nevada, Nebraska, Colorado, North Dakota and South Dakota - as well as the Roosevelt dime and the Kennedy half-dollar, all minted in lustrous 90 percent silver, historically known as “coin silver.”

U.S. uses lettering on coins' 'third side' since beginning - The Presidential dollars program, which begins in 2007, will not only herald the debut of such luminaries as Franklin Pierce and James Buchanan to U.S. coinage, but is significant for something many citizens may not notice – lettering on the edge.Every coin has three sides, though few people think of a coin as a three-sided object. But the edge of the coin often tells the most interesting story and is ripe for rediscovery.

Christine Karstedt once had a much different life.Having studied chemistry and physics in college, Karstedt worked as a high school science teacher after graduation. That was before she moved to Wolfeboro, N.H., 25 years ago. She didn’t know much about the coin hobby, but that didn’t stop her from getting a job with one of the biggest numismatic firms in the country, a company that would morph into American Numismatic Rarities.

Our latest valuation update of "early" gold coins is comprehensive and thorough. Virtually all gold coin values for every issue and grade from 1795 to the late 1830s, prior to the Coronet coins, increased in value. These values were primarily based on recent auction prices realized, which include collector and dealer purchases. Although demand for these early coins is probably the strongest it has ever been, dealer bids – prices dealers are hoping to pay – that are posted on the wholesale trading networks and popularly reported elsewhere, are abysmally low compared to the prices at which these coins are actually trading.

Dallas, Texas: One of the most incredible accumulations of the coinage from Hawaii, dated 1883, is about to hit the auction block. Assembled over many years by an obviously passionate collector, this accumulation contains the largest single offering of this ever-popular coinage series.According to Greg Rohan, President of Dallas-based Heritage Auction Galleries, “In 1883, King Kalakaua I – who ruled from 1874-1891 – saw the coinage of the US during his world travels and was so impressed that......

Collectors prize multiple series of medals - A "so-called dollar" is usually considered a medal measuring the diameter of a silver dollar and issued to commemorate a special event. So-called dollar medals may be of official issue (produced by the U.S. Mint or state officials) or of purely private issue. While many of the medals that fit the criteria measure between 37 and 39 millimeters, some collectible pieces fall outside those parameters, according to the author of a new reference work in progress on the series.

WASHINGTON -Today, April 18, 2006, is the 100th anniversary of the great San Francisco earthquake. In a tip of the hat to National Coin Week (April 16-22, 2006), the United States Mint is highlighting the Old Mint’s role as San Francisco’s financial rock in the recovery and re-building of the city. The great earthquake and fire of 1906 struck San Francisco at dawn on April 18th, killing more than 3,000 people.

April 16-22, 2006 is the 83nd Annual ANA National Coin Week, a time for individual collectors, clubs and dealers to educate the public about the coin collecting hobby. But, most of all, it's a time to let the world know that collecting coins can be educational, inexpensive and -- fun. n celebration of coin collecting and Benjamin Franklin’s 300th birthday, the theme for 2006 is: “A Penny Saved is History learned”

Teletrade® will be offering the rarest Proof-70 One Ounce Gold Eagle in their April 23, 2006 Premier Sale. This 1993-W example, graded a perfect Proof-70 DCAM by PCGS, has a population of only two pieces making it the lowest-pop issue in the entire proof One Ounce Gold Eagle series. "The 1993-W One Ounce Gold Eagle in proof format has long frustrated the top Registry Set Collectors by preventing the formation of a perfect '70' set...until now", said Ian Russell, President of Teletrade®.

Second Lieutenant John Fage knew he was in trouble when he heard the clank of a metal coin hitting the ground. The young officer had left his unit coin unattended on his desk and a sergeant in his office had taken it and now was coin checking him. "He did it as a teaching point," said Fage, now a first lieutenant at Maxwell-Gunter Air Force Base. "He wanted to make sure that I remember to keep my coin on me at all times."

Collector tries to stir numismatic mania with 3 relics that are worth a pretty penny - NEW YORK -- In the next few days, people in New York might want to take a closer look at the pennies in their loose change. The odds are long, but one of those lowly pennies might be worth more than $1,000. That is because Scott Travers is going around Manhattan this week making a few routine purchases and deliberately spending three rare 1-cent coins.

Dallas, TX) - An East Coast collector has purchased a Class III 1804 U.S. dollar for $2,475,000 in a private treaty sale announced by Heritage Auction Galleries of Dallas, Texas (www.HeritageAuctions.com). The same coin traded hands in 1950 for $3,250. The Adams-Lyman-Carter-Flannagan Specimen is one of only six known Class III 1804 Draped Bust type silver dollars. Graded PCGS Proof-58, it is the finest of the three available to collectors and not part of museum collections.

The best market venues to find the coins you're collecting, such as coin shows, auctions and advertisements, differ depending on market conditions and what you collect. About 10 to 15 years ago a person could buy just about any coin desired, including the most famous of rarities, such as an 1804 Draped Bust silver dollar, if he or she had enough money. Of course there always have been, and likely always will be, collections containing major rarities that will never be sold before their owners' passing.

Two previously unknown gold patterns of the 1907 Saint-Gaudens $10 eagle design have been discovered. Numismatic researcher Roger W. Burdette announced the find on April 10. The editors of the United States Pattern Coin book at Whitman Publishing LLC are reviewing them to consider whether to include them in the tenth edition.According to Burdette, the new patterns are preliminary versions of coins cataloged as J-1901 (knife rim/periods, old Judd 1774) and J-1903 (normal rim/periods, old Judd 1775), but they were struck with irregular stars on the edge.

Owners of 1913 Liberty Head nickels and the 1885 Trade dollar get relief under terms of proposed legislation aimed at preventing government seizure of pre-1933 rare coins owned by collectors. Owners of 1933 double eagles and 1964 Peace dollars do not. The legislation was introduced in the U.S. House of Representatives on April 4. Authored by Rep. Frank Lucas, R-Okla., the bill seeks to clarify the law regarding ownership of coinage minted before 1933.

History of styles divides by centuries - As misunderstood as the definition of the "edge" of a coin may be, "rim" is a term that seems to cause even more confusion. The edge, sometimes called the third side of a coin, is the surface that is perpendicular to the obverse and reverse. It represents the coin's thickness. It became especially important to design and identification with the advent of machine-struck coinage and, finally, use of the close (or "closed") collar.

OLYMPIA, Wash. -- An online poll asking Washingtonians to pick their favorite design for the state's quarter was suspended Monday, after the balloting was hijacked by robotic computer programs that pushed the tally past 1 million votes over the weekend. Technicians were busy reworking the online poll's computer code with hopes of restoring the voting by Tuesday, said Mark Gerth, a spokesman for the state Arts Commission.

Dallas, Texas: The 1802 half dime is one of the most famous rarities within the United States early silver series. Among half dimes, only the unique 1870-S is more desirable. Numismatists estimate that only 35 or so 1802 half dimes have survived from the initial recorded mintage of 3,060 pieces. “Most remaining 1802 half dimes are well worn or damaged, although an example in any condition would be the centerpiece of most advanced collections,” said Greg Rohan, President of Dallas-based Heritage Auction Galleries.

(Dallas, TX) - An East Coast collector has purchased a Class III 1804 U.S. dollar for $2,475,000 in a private treaty sale announced by Heritage Auction Galleries of Dallas, Texas. The same coin traded hands in 1950 for $3,250. The Adams-Lyman-Carter-Flannagan Specimen is one of only six known Class III 1804 Draped Bust type silver dollars. Graded PCGS Proof-58, it is the finest of the three available to collectors and not part of museum collections. The anonymous collector who purchased the coin was represented by Heritage. Dealer Kevin Lipton of Beverly Hills, California represented the seller, described only as "a West Coast collector."

Many serious students of the hobby eventually are hooked by a specialty series or area that really grabs their attention, often for a lifetime. Die variety collecting is one of those specialty areas. Collecting large cents by die varieties is one of the most active and oldest areas of the hobby. Some people who collect these varieties have to wait many years for some of them to become available on the market. However, making this method of collecting more challenging, but also fun, is the continuing growth in the numbers of collectors who like such varieties.

Coin dealer pushed gold pieces; Treasury Dept. conducts probe - WASHINGTON — In the months before Tom Noe came under scrutiny for his state-funded rare-coin venture, he used a federal appointment to forge relationships with U.S. Mint officials that opened doors for him on Capitol Hill, documents obtained by The Blade show. And before he was brought down by scandal last year, the coin dealer helped persuade Congress — for the first time in the nation’s history — to authorize the minting of a 24-karat gold coin.

Dallas, Texas: In the parlance of numismatists, a "mule" is "a coin or note with a mismatched obverse and reverse." This may mean different types, different denominations, or even different countries. It is an exceptionally rare error, and specimens of this type are exceptionally prized by collectors. "This incredible error, which hails from Part Two of the Bellaire Collection, somehow escaped the scrutiny of Mint employees," said Greg Rohan, President of Dallas-based Heritage Auction Galleries. "We are uncertain how a Lincoln cent obverse die was paired with a Roosevelt dime reverse, but this coin proves that it happened."

Everybody loves a great story. Coin Collectors love a great story about coins, and there are thousands of them. What is even better to a Coin Collector is a great story, involving coins, and the story is true. This is a real-life, silver dollar story about a man and his coins. The man's name was LaVere Redfield, and his coins have become known as the Redfield Hoard.

Based on recent auction records and dealer bids, values for about 99 percent of all issues and all grades of Flowing Hair, Draped Bust and Capped Bust half dollars have been substantially raised in our recent update of this series.Our new values were then immediately overshadowed by the results of an auction of a large run of high-grade half dollars from these years by American Numismatic Rarities at the mid-March Baltimore show. About 40 different issues, ranging from Good to Very Fine for the earliest dates, and Extremely Fine to Mint State 65 for the other dates, sold at prices near our new listings, but a large number of them also sold for strong premiums over our values.

1818 ½ Reale is One of the Oldest Texas Coins Known to Exist - Dallas, Texas: The history of Texas is long and storied. Alonso Alvarez de Pineda mapped the coastline of the land that would become Texas as early as 1519, and after that for many years the land was claimed at one time or another by both the Spanish and the French. 1682 saw the establishment of the first Spanish Mission, near present-day El Paso, and almost two hundred years after de Pineda’s voyage, the San Antonio de Valera Mission, whose chapel was named The Alamo was built in 1718.

March 23 (Bloomberg) -- A proof set of 14 coins made to commemorate the 1876 U.S. centennial sold for $548,000 today at Doyle New York. The coins, which carried a high estimate of $300,000, have a face value of $43. The coins drew the top price among 700 lots from the estate of Samuel Mills Damon, a Hawaiian banker who died in 1924. The set, along with 26 other lots, was bought by one of Damon's descendants. ``This is really something that should be in Hawaii to represent the Damon family and its legacy,'' said Joanne Fujita of Honolulu, who bid on behalf of a Damon family member

I don’t really want to write this column. However, even editors have to do some things they don’t like to do. My professional judgment tells me I must. By now you have had a week to digest the point and counterpoint arguments put before you in the March 28 issue by former American Numismatic Association Gov. Walter Ostromecki and ANA President William Horton.I did not seek out a column from Ostromecki because my readers basically felt enough had been done on the topic last fall.

(Dallas, TX) – One of the numismatic profession’s most respected leaders, Todd L. Imhof, has been named a Vice President of Heritage Auction Galleries, Dallas, Texas (www.HeritageAuctions.com), the world’s largest collectibles auctioneer. Imhof, a co-founder of Pinnacle Rarities in Lakewood, Washington, is a former Chairman of the Industry Council for Tangible Assets (ICTA) and a member of the Consumer Protection Committee of the Professional Numismatists Guild (PNG).

Some say state requirements eliminate average collectors - Rare-coin dealers say Ohio's ongoing "auction" of coins and currency once managed by Tom Noe is an odd affair, including the videotaping of potential buyers at a secret state highway patrol facility where the coins are located. It's a long way from traditional venues for high-dollar auctions, such as a posh New York hotel or a staid New England auction house, where letters of credit are honored and the press is allowed inside.

NGC Discovers Two Proof Silver States Quarters Die Crack Errors - NGC recently identified die cracks on two issues of silver proof States Quarters. The first discovery was on a 2005-S Silver West Virginia Quarter, where a thin crack emerges from the rim at approximately 4:00 and enters the frosted devices. The second error, seen on a 2006-S Silver Colorado Quarter, is slightly more dramatic. It starts at the rim just past 1:00 and runs diagonally through the mirrored field, which makes it readily visible.

Although I can�t take credit for inventing the concept of Market Premium Factor (MPF), it is something that I have discussed before and find very interesting. The basic concept of MPF is that in a specific series of coins, certain dates trade for premiums over the common (or basal) issues. An interesting series to explore the concept of MPF is Indian Head eagles. In this series, basically any coin not dated 1926 or 1932 (the two basal issues) is considerably scarcer than a basal issue.

(Santa Monica, CA) – A-Mark Precious Metals, Inc. of Santa Monica, California, the largest full-service precious metals dealer in North America, has opened a new subsidiary firm, Collateral Finance Corporation (CFC), to provide fast, short-term loans to dealers“ Loans from $50,000 to $5 million or more can be made on coins that are in the dealer’s inventory or in the process of being certified by Numismatic Guaranty Corporation or Professional Coin Grading Service,” said Thor Gjerdrum, Chief Financial Officer of CFC, a licensed California lender.

Two ultra-rare proof coins, a Half Eagle and Quarter Eagle both dated 1845, will be among the lots featured in our upcoming Atlanta ANA Signature Auction, to take place on April 6-7. Both coins boast a grade of Proof 66 Ultra Cameo, and each is considered the finest among an extraordinarily small number of pieces known of the date. At the time these coins were struck, the Mint did not keep records of proof coinage, thus we cannot be certain of an exact mintage for either coin. Based on the number of pieces surviving today, we can be certain that the quantity coined was extremely small.

SANTA MONICA (MarketWatch) -- Maybe it's the fact that silver and gold prices have zoomed. Or maybe it's the fact that the Internet provides a higher degree of transparency so people know a market exists for them to buy and sell. Whatever the case, coins and currency collectibles are garnering lots of interest and seeing big sales.Last fall, Heritage Auction Galleries, which says it's the world's largest auctioneer of collectibles, sold two coins for more than $1 million. It re-sold both again last month for about 15% more.

Early in 1861, before the Civil War began (April 15), the Confederate States of America investigated producing its own coins and currency. The capital at the time was located in Montgomery, Alabama, later to relocate to Richmond. The CSA desired to create its own distinctive coinage that could be widely circulated. At the time most of the prominent diecutters and engravers were located in the North. According to numismatic tradition, authorities contacted Bailey and Company, well known jewelers and medal issuers in Philadelphia, and sought their help in finding a diecutter to create a coinage. They tapped the talents of Robert Lovett, Jr., well known in the trade.

(Newport Beach, CA) - One of the collectors participating in the PCGS World Series of Coin TradingTM posted an impressive 30 percent profit in his fantasy $1 million rare coin portfolio in the first two weeks of competition. The increase is nearly double that of the top professional dealer in the contest. Names of the participants and contents of their portfolios have not yet been publicly revealed.

A Laguna Beach man has helped make Southern California the center of the coin trade. - Three years ago, Steve Contursi of Laguna Beach bought a 1794 silver dollar, believed to be the first minted in the United States. In case it's stolen or lost, he insured the coin for $10 million. Last year, Contursi paid $3 million for the Brasher Doubloon, the first gold coin minted in the United States, and, in a separate purchase, $8.5 million for a 10-coin set that President Jackson gave to the king of Siam in 1836.

(Santa Clara, CA) – The finest known set of 1915 Panama-Pacific International Exposition commemorative coins will return to the Bay area for the first time in 91 years and be exhibited during the Santa Clara Coin, Stamp & Collectibles Expo. The show will be held in the Santa Clara, California Convention Center, Thursday through Saturday, March 30 – April 1, 2006. “This outstanding exhibit showcases five superb condition gold and silver coins, registered by Pan-Pac officials as the sixth of 24 original complete sets made at the time,

Early copper coins, specifically half cents and large cents, make up probably the most difficult area of U.S. coins to grade and value. In the 1940s, Dr. William H. Sheldon developed a quantitative scale for grading the large cents of 1793 to 1814, the basis for the 1 to 70 grading scale now used throughout the hobby. In addition to using this scale to grade, he tied this numeric scale to a system of valuation.n essence, the value of "1" represents a Basal State - just barely identifiable. In valuing these coins, the Basal State was the constant.

Larry Abbott, Executive Vice President and CSO of Superior Galleries of Beverly Hills announced today that Silvano DiGenova, CEO and Chief Numismatist of the firm has discovered a previously unknown specimen, and the third finest known 1803 Large Stars Reverse with 13 Stars, Bass Dannruther 1E variety (Taraszka 32). The coin is an Extremely Rare (Low R7) survivor of a mintage estimated at originally only 250 to 500 coins from one single mating of dies. There are now only six specimens known, and two of those are damaged!

As we close in on nearly four years of a bull market that has carried values continually higher across virtually all U.S. coin series and grade ranges, buyers and sellers are facing fundamental market changes that often require tough decisions. Of course, the biggest question overhanging the market is: How long will this bull run last? The answer is: If we stick with it long enough, we'll find out - it's an unknown. The future of this market is a very serious subject for buyers and sellers. Not only for collectors, in deciding whether to sell a lifelong collection, or whether to continue buying at these levels, but it is a serious question for dealers, as well.

COLUMBUS, Ohio -- Ohio has arranged to sell a number of rare U.S. coins and $10,000 bills on behalf of the state Bureau of Workers’ Compensation for at least $7.5 million, bringing a $1 million profit, according to state Atty. Gen. Jim Petro. He added that he is confident the BWC will recoup its original investment of $50 million in rare coins, currency, and other collectibles.The original investment in the coins and currency to be sold was about $6.5 million from 2002 to 2005.

Feb. 23 (Bloomberg) -- Federal Reserve Vice Chairman Roger Ferguson's resignation may help new Fed chief Ben Bernanke win support at the central bank for a numerical inflation goal. Ferguson, who quit yesterday effective April 28 after eight years on the Fed's Board of Governors, opposes an inflation target, partly because it may limit the central bank's flexibility. Bernanke's support for such a move has been a hallmark of his work as an economist.

COLUMBUS — A year ago, Tom Noe was a high-level Taft appointee and a go-to Republican fund-raiser who vacationed in palatial waterfront homes and was a regular at the exclusive Inverness Club. But a special audit released yesterday alleges that part of his lavish and charitable lifestyle was a mirage, bankrolled with money from the $50 million he controlled in two rare-coin investment funds for the Ohio Bureau of Workers’ Compensation.Without the conversion of the state’s money with the help of “phantom” coin deals, auditors said Mr. Noe did not have the cash to afford his lofty status in the community.

Dallas, Texas: "This is the only known die pairing of this truly memorable Dahlonega gold dollar," said Greg Rohan, President of Heritage Auction Galleries, "made even more remarkable when one considers that the '58-D is one of the four or five rarest dates from this mint in high grades." "From a production of just 3,477 pieces, presently there are about 50 Mint State examples certified by both services combined." This is the finest-known example of this rare issue."

Composition of the dime, quarter dollar and half dollar once a hotly debated issue - The composition of our dime, quarter dollar and half dollar are taken for granted today but at one time the composition of these coins was a hotly contested issue. In the years between 1960 and 1964, the rising coinage output at the Mint had increased that agency's silver usage from 42 million ounces in 1960 to 144 million ounces in 1964, and it seemed that if nothing were done the Mint's annual consumption of the precious metal would hit 300 million ounces in the near future.

Dale Friend Collection of Mint State Liberty Nickels To Be Sold in March - ANR’s offering of the New York Connoisseur Collection, slated for March 14-15 in Baltimore, will include the finest PCGS Registry Set of Liberty Nickels ever formed. With an average grade over MS-66, the superb collection formed by Dale Friend focuses on superb visual appeal in addition to technical merits. Of the 33 dates in the collection, two-thirds are finest or tied for finest certified by PCGS and none were graded lower than MS-65.

Monday, Feb. 20 is what's called "Presidents' Day". Originally it was for honoring George Washington but then we wanted to honor Abraham Lincoln, too, and their birthdays were both in February so we combined them. Presidents’ Day has changed again because now it's for honoring all the presidents we've ever had. I'm not so sure about that.Considering how much faith we have in the democratic way we elect our leaders, it's disappointing to look at some of the leaders we've elected. Even the word we use to describe them as public officials is kind of disparaging.

WASHINGTON, D.C. -- The Abraham Lincoln Bicentennial Commission met at the Library of Congress here Monday to discuss plans for celebrating an important and impending anniversary, just a week before Presidents Day and a day after President Lincoln’s 197 th birthday. Foot-deep snow did delay this meeting of historical significance. It offered a perceptible mixture of excitement and gravitas, underscoring the opportunity before the commission and the desire to do the events leading up to the 200 th anniversary of Lincoln’s birth in 1809 justice.

Not all coins graded the same are the same. This has been very evident all along, but as values keep rising, like they did in early February during the three pre-Long Beach Coin, Stamp & Collectibles Expo auctions conducted in Beverly Hills by Bowers and Merena Auctions, Ira & Larry Goldberg Auctioneers and Superior Galleries, prices for coins graded the same are becoming much more varied. I watched as dealers, in heated competition, continued to pay prices that often exceeded Coin Values listings, just to land those they wanted. A few apparent bargains were snagged as well.

Renovations uncover old mine shaft underneath Smith House - he Smith House in Dahlonega may have been sitting on a gold mine for more than a century. Workers renovating the landmark hotel and restaurant on Sunday uncovered the entrance to what may have been a gold mine built in the late 1800s. They descended into the 19-foot hole for the first time on Tuesday afternoon. While tearing up concrete in what used to be the main dining room of the family restaurant, the contractor discovered a hole in the earth, said Chris Welch, whose family owns the Smith House.

Legend Numismatics - Will the auction craze ever end? There are just too many and its starting to show. Dealers (including ourselves) are burnt out by the time the regular show begins. Try running between 3 auctions (B+M, Superior, and The Goldbergs)! But then the reason why they have them is because the world loves a good auction. All 3 pre auctions were highly successful for the better "fresh" material. Dealer retreads or overgraded coins did not sell well. This time, the selection betwen the 3 sales was decent, but not great. Still, competition was so firece we spent only 30% of what we thought we would (needless to say we were very surprised and disappointed).

53 felony counts carry possible sentence of 175 years in prison - TOLEDO -- Thomas W. Noe, the coin dealer and prominent Republican contributor whose $50 million state coin investment sparked one of the biggest state government scandals in Ohio history, was indicted today on 53 felonies. The charges include engaging in a pattern of corrupt activity, 11 counts of theft, 11 of money laundering, 8 of tampering with records and 22 of forgery. He could be sentenced to a maximum 175 years in prison, although such a sentence is considered unlikely.

La. businessman pays $1.5 million for $10 gold piece - A Louisiana businessman has purchased for $1.5 million an extremely rare coin minted in New Orleans in 1844. The coin is a Proof 65 1844-O $10 gold piece — probably made as a gift for someone of importance — and is listed in the “100 Greatest U.S. Coins” at No. 39. The O after the year stands for Orleans mint. A proof coin is a specially made coin with a mirror finish, while 65 is the coin’s grade.

This April, Whitman Publishing will release the 60th Anniversary edition of this beloved, best-selling hobby guide, known everywhere as the ?Red Book.? The Red Book prices more than 60,000 coins, with nearly 30,000 individual values. Of course this comprehensive pricing isn?t the only reason collectors have made the Red Book one of the top-selling nonfiction titles in publishing history. Full color throughout; illustrated; 417 pages, edited by Kenneth Bressett.

Last week I reported on the auction of half cents and early large cents from the Jules Reiver Collection, sold by Heritage Galleries and Auctioneers in Dallas. Reiver focused on varieties and die states, and he amassed more than 5,000 different examples of coins from various series - a feat that will most probably never be duplicated in this many series again.The set of auction catalogs represents a great reference work, something Reiver would have wanted (he died in 2004) and would assuredly be proud of after his more than 70 years of building this collection.

Important Die Variety in Modern Commemorative Series - The Mint State 1984-W Olympic $10 Gold Commemorative exists in two distinct finishes, a flat matte-like surface and a prooflike satin surface with subtle cameo contrast. While researching these different characteristics, Dave Camire, President of NCS and error coin expert, noticed distinct doubling on the obverse of a prooflike example. The doubling is pronounced throughout the obverse and the greatest spread is visible on the designer?s initials.

The story behind the 1933 $20 double sounds too fantastic to be true. It involves deceit, international intrigue, obsession and greed. And Alison Frankel tells it all in Double Eagle: The Epic Story of the World?s Most Valuable Coin. Also considered the world?s rarest coin, the 1933 $20 was stolen from the Mint before it was to be melted down, he says. It passed from the hands of con men to obsessive collectors to King Farouk of Egypt, before it was sold legally at auction for the highest price ever paid for a coin.

Police have arrested a man for stealing a 4-pound gold bar from NBA agent Dwight Manley after the missing treasure turned up at a coin dealership last week. The bar, made in the mid-1850s in Sacramento, is valued at about $500,000 and was allegedly stolen by a subcontractor working on Manley's Irvine home. It was among three tons of gold and minted coins recovered from the SS Central America, which sank off the North Carolina coast during a hurricane in 1857. Investigators found the bar last week at a Rancho Santa Margarita coin dealership.

Despite strong misgivings about his treatment of Virginia Indians, a federal review panel has supported placing explorer John Smith alongside an Indian chief on commemorative coins to mark the 400th anniversary of Jamestown. In a discussion that was marked by pointed comments about Smith's dealings with Native people, members of the Citizens Coinage Advisory Committee selected four designs to recommend to Treasury Secretary John Snow for the two commemorative coins that will be issued in early 2007 to mark Jamestown's settlement.

Ahh, love is in the air. It's that time of year when many people attempt to devise clever and meaningful ways to please their better halves, most often coming back to the usual flowers and chocolates. And while it's the thought that counts, today's typical Valentine's Day gifts really have no association with the history of the holiday or what it was meant to represent. In honor of St. Valentine himself, who is credited with the origin of the holiday and with sending the first valentine back in the 16th century, giving a love token may be the perfect way to woo a numismatic-loving woman.

Northern Nevada coin dealers and collectors are flipping over the Silver State's new quarter. The commemorative quarter, with George Washington on the obverse and an image of three wild horses on the reverse side, is being released today in a special ceremony at the state Capitol.The coin is the latest entry in the U.S. Mint's popular 50 State Quarters Program. "This is a very exciting time for Nevada. The release of the quarter represents a sense of coming together as a community. It's our own special quarter," said Swope Middle School social studies teacher Carol Hines.

Hobby error experts who labeled 2004-D Wisconsin extra-leaf quarters the result of random occurrences were bolstered somewhat in their case by a report of the U.S. Dept. of the Treasury Office of the Inspector General. The report also pegged the number of extra-leaf quarters produced at up to 50,000 pieces, far higher than any previous estimate. The fact that these reached circulation was due to a press operator at the U.S. Mint in Denver who picked a bad time to go to lunch.

Every day we throw our pocket change into a little box by the door, and once every six months or so, we sit down and roll it into bank coin wrappers while watching television. Sure, we could just take it to one of the coin-sorting machines at the local Commerce Bank, but rolling coins is relaxing and it only takes about an hour to roll a couple of hundred bucks worth of coins. Anyway, the other night we were doing this, and noticed something strange: we had 360 quarters, 200 dimes, 80 nickels and 300 pennies. Quarters, dimes, and nickels seemed really overrepresented-- and pennies were strangely scarce!

Dallas, Texas: Heritage Auction Galleries opened their Signature Auction of the Jules Reiver Collection of US Coinage on January 24, 2006 in their Dallas headquarters. This auction, held with no reserves, has realized $2,116,287 through two sessions so far, with 1,927 total bidders participating, 148 of them successfully, for 668 total lots. "This auction has been tremendously popular with the public," said Greg Rohan, President of Heritage. "Our lot viewing sessions have been consistently full, and bidding sessions have been standing room only.

Steve Deeds likes to be right in the thick of things at a rare coin auction. ?I like the action,? said the Bowers and Merena president, ?and I like what Bowers and Merena is able to do for its consignors and purchasers. I like being able to bring two people together and make them both happy.?It?s something he?s been doing for around 40 years. Deeds got his start in numismatics at age 14, when he bought his first coins. ?Then I started thinking about the other end of it,? said Deeds.

LA GRANDE (AP) ? A rare $5 Oregon gold coin minted in 1849 has fetched $125,000 from a collector who now has a link to a time when people in the Oregon Territory began to end a life of bartering with gold dust, beaver pelts, wheat, salmon and horses. The gold coin dates back a decade before Oregon became a state, to a time when it could have passed through the hands of mountain man Joe Meek, who later became the Oregon Territory?s first U.S. marshal. Or Dr. John D. McLoughlin, head of the powerful Hudson?s Bay Co. and Oregon?s most prominent figure for decades.

Consignments of U.S. gold coins from the 18th, 19th and 20th centuries highlight Bowers and Merena?s first auction of the new year, the Rarities Sale.Scheduled for Saturday, Feb. 4, at the Loews Beverly Hills Hotel Los Angeles, the sale will be conducted in a single session beginning at 6 p.m. in the hotel?s screening room.?We have a spectacular Rarities Sale planned for Beverly Hills,? stated Bowers and Merena president Steve Deeds. ?More than 600 lots of absolute and condition rarities will be crossing the auction block at the Loews Beverly Hills.?

(Fallbrook, California) ? The Professional Numismatists Guild, a nonprofit organization composed of many of the country?s top rare coin and paper money dealers, has kicked off its second half-century with a new look and marketing plan that emphasizes consumer protection.The old PNG logo, dating back to the group?s founding in 1955, depicted the organization?s name, a magnifying glass, a book and PNG?s motto, ?Knowledge, Integrity, Responsibility.?

BUFFALO, N.Y., Jan. 22 (UPI) -- A New York man and his son have been charged with criminal possession of a forged instrument and criminal impersonation for using Liberty $20 coins. Daniel Buczek and Shane Buczek, both of Derby, N.Y., are believed to be the first people in western New York arrested for trying to make purchases with the Liberty dollar, the Buffalo (N.Y.) News reported Sunday. The privately minted Liberties are viewed by some as an alternative to the U.S. government's monetary system. It's claimed that some $15 million worth of the $20 coins are in circulation throughout the nation.

WASHINGTON ? The release of thousands of flawed Wisconsin state quarters that set off a buying frenzy, and speculations of foul play, was a mistake stemming from an ill-timed meal break, a government investigation has found.As many as 50,000 of the faulty coins, 50 times the amount earlier thought, entered circulation in 2004 after the coins were produced and bagged during an operator's break, according to the Treasury Department's Office of Inspector General.

(Newport Beach, California) - Jon Bruce Amspacher, a co-founder of the Professional Coin Grading Service (PCGS) and respected dealer and influential newsletter writer, passed away January 18, 2006 of complications from diabetes. He was 63. "His passing is a loss for his friends and the numismatic community," said PCGS Founder, David Hall, President of Collectors Universe, Inc. Amspacher was born on February 25, 1942 in Oklahoma, grew up in Norman, and received a degree in English from Oklahoma University. He was an avid Oklahoma sports fan, and loved bowling, the television program "Jeopardy," and all his many dogs and cats, recalled Hall.