With the huge amount of information that is available on the Internet, it may seem like a daunting task to find quality information. Because of this, we at the Numismatic Hub decided to compile a few of our favorite sites. There are hundreds of other invaluable resources out there, so leave a comment with your favorite site!
Coin Update
With new content daily, Coin Update provides collectors with a wide array of information from various areas of the numismatic industry. Coin Update also features various authors and contributors who are experts in their fields, who produce content specifically written with the collector in mind. Another unique feature on Coin Update is that you can find detailed information on the new coins that the U.S Mint will be producing each year. Coin Update is a great resource for collectors who want to stay up to date with all areas of numismatics and you can check out the site at http://www.coinupdate.com/.
CoinTalk
CoinTalk is a privately owned, online forum with just under 30,000 members. With 30,000 members, it would seem as if it would be impossible to get any information from this site, but that is truly not the case. You can post any question in one of the many topic areas, and get a response quite quickly. The members of CoinTalk are friendly and helpful and will always try to answer any question that is posted to the site. One of the unique features of CoinTalk is its “What’s it Worth” section, where users can post any numismatic related item that they have and receive input on what it’s worth. Overall, CoinTalk is an excellent resource for collectors who have questions that they need answered and just want to talk about everything in the numismatic world! Check out CoinTalk at http://www.cointalk.com/.
Heritage Auctions
Heritage Auctions is the world’s largest numismatic auctioneer in the world. With just under 600,000 members, Heritage offers collectors only the finest coins in the world. Heritage is not only an invaluable auction platform; just by visiting Heritage Auctions website, you can access price guides, look up realized prices from past auctions and read insightful articles and commentary. You can find Heritage Auctions at http://www.ha.com/.
EBay
EBay is the world’s largest auction website in the world, and is a great way to buy and sell coins. EBay allows users to consistently view over 8,000 pages of coin auctions and gives buyers the opportunity to occasionally get some steals. EBay is a great place to sell coins as well, just make sure to follow their regulations when it comes to selling coins! Visit EBay at http://www.ebay.com/.
A Young Numismatist View on Numismatics
Thursday, March 24, 2011
Sunday, March 20, 2011
Interview with Numismatic photographer, Todd Pollock of BluCC Photos
Todd Pollock is a leading numismatic photographer, who travels around the country to the largest coin shows and to date, has taken over 150,000 coin images. If you are interested in having your coins photographed, please visit Todd at his website BluCC Photos. If you are on Facebook and would like to be up to date on all of Todd's activities, please visit his facebook page
at BluCC Photos Facebook Page.
Numismatic Hub: How did you get into photographing coins?
Todd Pollock: When I got back into numismatics a few years ago, I joined an online forum. It wasn’t long after that, that I started doing some images as I sold some coins I had owned for a while. From that point on things just grew and I wanted to keep improving on my images. Since then I have taken well over 150,000 images of coins and still strive to improve my images. Part of what got me started was imaging my own set to carry on my iPod so I could see my set while at shows. With today’s technology having your coins imaged can help you become a better collector and also save you from purchase mistakes.
NH: It takes a lot of skill and knowledge to take a proper photo; did you have any prior experience as a photographer before getting involved with imaging coins?
TP: I was very active in photography in high school and college. For a while, I was a photography major in college. I decided that photography was not my path and pursued a degree in Economics and later a M.B.A., now as things go full circle, I am back to being a photographer. I even have a small box at home that is a couple folded photos, the top of the box is a close-up of Lincoln cent reverse, showing Lincoln inside the memorial. My guess is I did that image about 20 years ago for a high school photo class. While I think some photography background may have been helpful it is not a prerequisite for taking good coin photos.
NH: Photographing coins is an activity that most struggle with doing successfully. What does it take to take the perfect photo?
TP: Sometimes it feels like the planets need to align. What it really takes are for several things to go right. First you need the right coin, a coin with a good look and strike. Then if the coin is in a slab, you need a slab that is still in great shape and the coin to be perfect in the slab. Next it is time to get the lights just right for that coin. The perfect image is different to everyone. What I think may be a perfect image of a coin, others may not care for. Coins have many different looks depending on the angles, so there are many interpretations of each coin. I shoot my coins straight on because I feel that is how I look at coins and it gives the truest representation of the coin. To me a perfect image represents the true look of the coin and will show luster and the texture in the fields. Showing off the texture in the fields is one of the things I really like to see in a photo. I don’t like the fields washed out.
NH: There are many aspects involved in photographing coins, from determining the proper lighting to choosing a suitable lens. Out of all the components involved in the photographing process, which do you consider to be most important?
TP: I feel lighting is the most important part of the process. I don’t think there is one type of light out there that is “THE” light to have. What is more important is finding the light that works for you and working to maximize that light. I have been through several sets of lights and occasionally try some new ones, but for now I am set on my lights. I have a drawer full of prior experiment lights to prove it. I am not trying to downplay the importance of camera and lens, but the right setup and wrong lights will not do the coins justice. It is equally important to play with the lights. Moving the lighting angle all over and getting a sense for how the lights react with the coin is important.
NH: Your photos are more than impressive, how did you get to the skill level that you are at today?
TP: It has been a long road and it really comes down to practice and trying new things. When I feel I am at a certain level with my images, I do my best to concentrate on a new angle or type that I feel is not up to par. Some areas took some patience for me because I might not own many examples of a certain series so I had to wait until I had a few examples to play with. I wanted to be well rounded in my imaging and not just focus on one type of coin or metal. I manage to be imaging on a constant basis and rarely more than a couple days go by without having some coins to image so I never really have a break. I encourage people to find time to shoot a little bit every week just to keep in the groove. It becomes second nature after a while with practice.
NH: Why do you think so many people have trouble imaging coins?
TP: The process on imaging coins is quite different than taking images of your normal daily life. It is hard to change the thought process to image coins. Add to that the amount of time it takes for practice. It takes some real patience to learn and practice, many don’t have the time to spend on taking hobby photos and for some frustration kicks in. I would guess that people who struggle with coin images have not spent enough time learning how moving the lights effects their images. The relationship between the lights and the coin is very important to understand. Also slabs bring a unique issue into the equation, coins are tough enough then adding a layer of plastic does not make it easier.
NH: You travel around the country, going to some of the biggest coin shows, not as a dealer but as a photographer. What is the experience of imaging coins at some of the biggest shows in the country like?
TP: I did imaging at about 14 shows last year, none near where I live. A couple shows were within driving range but most were over 1500 miles away. I am now able to go to many more shows and stay quite busy at each show doing imaging. There are often shows where I do not see much of the bourse simply due to a lack of time to walk around. Being able to do the imaging at large shows is a real treat, I have been able to meet many collectors and customers of mine and have seen some amazing coins. I meet many people who just come by to say hi and they appreciate seeing my photos online. The shows have always been great fun, I don’t think I have the stress of most the dealers so I am able to just have fun with customers and coins. At shows I see a huge mix of coins from collectors, dealers, auction houses, and everyone else related to coins. I also traveled to shoot a few collections last year, being able to spend time with a collector and their coins being imaged is a great experience. The amount I have learned from the people I work for is something I could not have found anywhere else. My show experiences have really allowed me to become a better collector as it brought on many experiences I would not have been able to be a part of had I not moved into photography.
The hard part about shows is that I am there to do the imaging so I cant spend much time looking at the coins I am imaging. Sure I see them through the camera but I don’t get to sit down and really enjoy some of the amazing coins I get to image. At every show there are quite a few coins you just want to sit down and stare at for a while.
NH: What has been your favorite coin to image?
TP: This is a question I get at every show and I never have a great answer. I have seen some of the most amazing coins of all denominations, values and countries of issue. Naturally shooting coins that are considered to be ultra rarities is always special, and coins that are worth more than my house always give me goose bumps. I am a DMPL Morgan collector and I see lots of Morgans so I always enjoy them. I will never narrow it down to one image as a favorite. As I go to look for these images it is very obvious I could list hundreds of coins as favorites and there are hundreds of deserving coins in my image database.
NH: What has been your hardest coin to image? Your easiest?
TP: The hardest is easy, toned proofs. On business strike toners, you tend to sacrifice luster for color. On proof examples it goes a step further. On a toned proof example it is very hard to catch the color and the mirrors. Toned proofs have been giving me fits for a long time and I am just now working out a method that's beginning to work well on them.
On the easy side I would say business strike seated halves and quarters. I have no idea why but they come to mind as being consistently on the good image side. They have good strikes and an overall design that images well. In general I find copper to be the easiest metal to image, I don’t collect copper but it just seems to behave well under the glass.
NH: Do you have any advice for collectors who want to start imaging their own coins?
TP: Practice, practice, practice followed by lights, lights, lights.
You don’t need the worlds best camera to take coin images, but preferably one with a macro mode, a white balance setting and focus you can control.
There is no one perfect setup for imaging coins, so practice and enjoy what you learn about your coins. Your images will bring out the good and bad in a collection and everything you learn is important. Don’t get frustrated!! It is not an overnight process so take it as a challenge and give yourself some time to tackle it.
at BluCC Photos Facebook Page.
Numismatic Hub: How did you get into photographing coins?
Todd Pollock: When I got back into numismatics a few years ago, I joined an online forum. It wasn’t long after that, that I started doing some images as I sold some coins I had owned for a while. From that point on things just grew and I wanted to keep improving on my images. Since then I have taken well over 150,000 images of coins and still strive to improve my images. Part of what got me started was imaging my own set to carry on my iPod so I could see my set while at shows. With today’s technology having your coins imaged can help you become a better collector and also save you from purchase mistakes.
NH: It takes a lot of skill and knowledge to take a proper photo; did you have any prior experience as a photographer before getting involved with imaging coins?
TP: I was very active in photography in high school and college. For a while, I was a photography major in college. I decided that photography was not my path and pursued a degree in Economics and later a M.B.A., now as things go full circle, I am back to being a photographer. I even have a small box at home that is a couple folded photos, the top of the box is a close-up of Lincoln cent reverse, showing Lincoln inside the memorial. My guess is I did that image about 20 years ago for a high school photo class. While I think some photography background may have been helpful it is not a prerequisite for taking good coin photos.
 |
| Image Courtesy of http://www.bluccphotos.com/ The Chippewa Collection |
NH: Photographing coins is an activity that most struggle with doing successfully. What does it take to take the perfect photo?
TP: Sometimes it feels like the planets need to align. What it really takes are for several things to go right. First you need the right coin, a coin with a good look and strike. Then if the coin is in a slab, you need a slab that is still in great shape and the coin to be perfect in the slab. Next it is time to get the lights just right for that coin. The perfect image is different to everyone. What I think may be a perfect image of a coin, others may not care for. Coins have many different looks depending on the angles, so there are many interpretations of each coin. I shoot my coins straight on because I feel that is how I look at coins and it gives the truest representation of the coin. To me a perfect image represents the true look of the coin and will show luster and the texture in the fields. Showing off the texture in the fields is one of the things I really like to see in a photo. I don’t like the fields washed out.
NH: There are many aspects involved in photographing coins, from determining the proper lighting to choosing a suitable lens. Out of all the components involved in the photographing process, which do you consider to be most important?
TP: I feel lighting is the most important part of the process. I don’t think there is one type of light out there that is “THE” light to have. What is more important is finding the light that works for you and working to maximize that light. I have been through several sets of lights and occasionally try some new ones, but for now I am set on my lights. I have a drawer full of prior experiment lights to prove it. I am not trying to downplay the importance of camera and lens, but the right setup and wrong lights will not do the coins justice. It is equally important to play with the lights. Moving the lighting angle all over and getting a sense for how the lights react with the coin is important.
 |
| Image Courtesy of http://www.bluccphotos.com/ 1884-o Morgan Dollar PCGS 65 “The Textile Tennis racket”, Ex. Mike DeFalco, The Aurora Borealis Collection |
NH: Your photos are more than impressive, how did you get to the skill level that you are at today?
TP: It has been a long road and it really comes down to practice and trying new things. When I feel I am at a certain level with my images, I do my best to concentrate on a new angle or type that I feel is not up to par. Some areas took some patience for me because I might not own many examples of a certain series so I had to wait until I had a few examples to play with. I wanted to be well rounded in my imaging and not just focus on one type of coin or metal. I manage to be imaging on a constant basis and rarely more than a couple days go by without having some coins to image so I never really have a break. I encourage people to find time to shoot a little bit every week just to keep in the groove. It becomes second nature after a while with practice.
NH: Why do you think so many people have trouble imaging coins?
TP: The process on imaging coins is quite different than taking images of your normal daily life. It is hard to change the thought process to image coins. Add to that the amount of time it takes for practice. It takes some real patience to learn and practice, many don’t have the time to spend on taking hobby photos and for some frustration kicks in. I would guess that people who struggle with coin images have not spent enough time learning how moving the lights effects their images. The relationship between the lights and the coin is very important to understand. Also slabs bring a unique issue into the equation, coins are tough enough then adding a layer of plastic does not make it easier.
 |
| Image Courtesy of http://www.bluccphotos.com/ The McCullagh Collection |
NH: You travel around the country, going to some of the biggest coin shows, not as a dealer but as a photographer. What is the experience of imaging coins at some of the biggest shows in the country like?
TP: I did imaging at about 14 shows last year, none near where I live. A couple shows were within driving range but most were over 1500 miles away. I am now able to go to many more shows and stay quite busy at each show doing imaging. There are often shows where I do not see much of the bourse simply due to a lack of time to walk around. Being able to do the imaging at large shows is a real treat, I have been able to meet many collectors and customers of mine and have seen some amazing coins. I meet many people who just come by to say hi and they appreciate seeing my photos online. The shows have always been great fun, I don’t think I have the stress of most the dealers so I am able to just have fun with customers and coins. At shows I see a huge mix of coins from collectors, dealers, auction houses, and everyone else related to coins. I also traveled to shoot a few collections last year, being able to spend time with a collector and their coins being imaged is a great experience. The amount I have learned from the people I work for is something I could not have found anywhere else. My show experiences have really allowed me to become a better collector as it brought on many experiences I would not have been able to be a part of had I not moved into photography.
The hard part about shows is that I am there to do the imaging so I cant spend much time looking at the coins I am imaging. Sure I see them through the camera but I don’t get to sit down and really enjoy some of the amazing coins I get to image. At every show there are quite a few coins you just want to sit down and stare at for a while.
NH: What has been your favorite coin to image?
TP: This is a question I get at every show and I never have a great answer. I have seen some of the most amazing coins of all denominations, values and countries of issue. Naturally shooting coins that are considered to be ultra rarities is always special, and coins that are worth more than my house always give me goose bumps. I am a DMPL Morgan collector and I see lots of Morgans so I always enjoy them. I will never narrow it down to one image as a favorite. As I go to look for these images it is very obvious I could list hundreds of coins as favorites and there are hundreds of deserving coins in my image database.
 |
| Image Courtesy of http://www.blueccphotos.com/ |
NH: What has been your hardest coin to image? Your easiest?
TP: The hardest is easy, toned proofs. On business strike toners, you tend to sacrifice luster for color. On proof examples it goes a step further. On a toned proof example it is very hard to catch the color and the mirrors. Toned proofs have been giving me fits for a long time and I am just now working out a method that's beginning to work well on them.
On the easy side I would say business strike seated halves and quarters. I have no idea why but they come to mind as being consistently on the good image side. They have good strikes and an overall design that images well. In general I find copper to be the easiest metal to image, I don’t collect copper but it just seems to behave well under the glass.
NH: Do you have any advice for collectors who want to start imaging their own coins?
TP: Practice, practice, practice followed by lights, lights, lights.
You don’t need the worlds best camera to take coin images, but preferably one with a macro mode, a white balance setting and focus you can control.
There is no one perfect setup for imaging coins, so practice and enjoy what you learn about your coins. Your images will bring out the good and bad in a collection and everything you learn is important. Don’t get frustrated!! It is not an overnight process so take it as a challenge and give yourself some time to tackle it.
 |
| Image Courtesy of http://www.bluccphotos.com/ and http://www.thepennylady.com/ |
Tuesday, March 8, 2011
"What NOT to do on Ebay" I'm Not Touching That!
You always hear about people catching sharks, only to open them up to find that the shark had eaten a tire or a license plate.
This is something new for me, a dime that had been found in a chicken's gizzard after it had been butchered. Evidently, Chickens swallow small stones that go into their gizzard and help eat grains and other hard foods.
I don't know If I'd really want to touch this after knowing where it was found, but it does look pretty cool.
Check out the auction here- I'm Not Touching That!
This is something new for me, a dime that had been found in a chicken's gizzard after it had been butchered. Evidently, Chickens swallow small stones that go into their gizzard and help eat grains and other hard foods.
I don't know If I'd really want to touch this after knowing where it was found, but it does look pretty cool.
Check out the auction here- I'm Not Touching That!
Friday, March 4, 2011
Interview with Numismatic Cataloger at Heritage Auctions, John Dale Beety
The next installment of the Numismatic Hub's interview series "Mind's of Numismatists" is with John Dale Beety; numismatic cataloger at Heritage Auctions. John Dale Beety joined Heritage Auctions as a numismatic cataloger in June 2006, immediately after graduation from Rose-Hulman Institute of Technology. Please visit Heritage Auctions at http://www.ha.com/
Numismatic Hub: How did you first get involved with numismatics?
John Dale Beety: Most collectors have an “origin story.” The funny thing is that I don’t. Neither of my parents collected coins, so I didn’t get “the bug” there. All I remember is that in third grade I was sort of interested in coins, by fifth grade I was definitely interested in coins, and in middle school I was hooked and hopeless.
NH: You were quite an active young numismatist. How did your experiences as a young numismatist prepare you for your current career?
JDB: Being part of the coin-collecting community was really important for me growing up, and as I matured I seriously thought about numismatics as a career. I got so much encouragement and advice as a Young Numismatist, and from so many people, that it’d be impossible to name them all. It’s pretty much a case of “If you think you should be thanked, you’re right, and thank you.”
The names that come to mind, though, in rough timeline order: R.W. Julian, who was my hometown mentor, and all the rest of the Logansport Coin Club; Gail Baker, who got me my first YN scholarship to the Summer Seminar in Colorado Springs; Stuart Levine, who bought me my first coin book past the Guide Book (Pollock’s pattern reference) and told me to take numismatics as far as I wanted to take it; Julian Leidman, who gave me a great education and acted as my agent at the second Pittman Auction for less than the price of a steak dinner; Polly Edwards “Ms. Polly” Pittman and the rest of the Pittman family for two Buffalo nickels and all the encouragement a teenager could want; David W. Akers, for inspiring me to be a cataloger; and Paul Minshull, who gave me a chance to be an intern for Heritage and then a cataloger.
NH: Many college students hope to graduate and enter the “real world” with a secured job, but unfortunately that’s virtually never the case. You had the luxury of being hired right out of college. What was that experience like?
JDB: An exercise in persistence. I’d interned at Heritage two summers before I was hired, working with the Wholesale and Coin Consignment departments. I sent an e-mail response to a “help wanted” posting on the Heritage site looking for a coin cataloger. Paul Minshull was understandably skeptical—everyone else in the cataloging department is old enough to be my dad, after all—but he gave me a copy of the super-secret cataloging test, and he liked what he saw. The chief cataloger agreed, and I was in. I graduated from college in Indiana in May, and two weeks later I walked into the Heritage office in Dallas for my first day on the job. It was my 21st birthday. Best present ever? It’s close.
JDB: Besides the coins, obviously? (laughs) The cataloging department has some great people. I’m one of four full-timers in the Dallas office. The chief cataloger, Mark van Winkle, is seriously underrated. He’s the ultimate Mr. Inside—a great coin mind who has been so loyal to Heritage and kept such a low profile overall that nobody really appreciates how much knowledge he has in his head. Our senior cataloger, Mark Borckardt, is more Mr. Outside. He has the books, the articles, the prominence, and he has so much talent and skill that he can back up all the hype he gets and then some. I used to be the new guy, but I’m not anymore, actually. We have another full-time cataloger, Dave Stone. He isn’t well-known outside of Heritage, but he has an amazing numismatic library and he knows how to use it. Great guy, too. Co-workers and bosses make any desk job, as cataloging is, and I’m lucky to have the ones I do.
NH: Your job permits you to view and handle some of the rarest coins in existence. Is it possible to choose your favorite piece?
JDB: I’m a U.S. coin cataloger, but I’m going to go outside the U.S. and to Canada. I helped the World Coins department catalog the Canadiana Collection, and one of the coins I wrote was a 1936 Dot cent. The 1936 Dot cent is the most iconic rarity of Canadian coinage, almost like Canada’s answer to the U.S. 1804 dollar. David W. Akers spent several years in the 1990s cataloging and selling the Pittman Collection, and that 1936 Dot cent had been part of the collection. I’ve already said that Mr. Akers was my inspiration to become a cataloger, so being able to follow in his footsteps on that coin was a thrill.
NH: What has been your most momentous experience in your numismatic career?
JDB: Early 2008. The Queller Family Collection of Silver Dollars comes in, and the centerpiece is an 1804 dollar, a Class I or Original. We decided to do a multipart description—one person talks about the history, another about originals versus restrikes, and so on—so we’d all have a piece of the description. Then we parceled out different pieces to different catalogers. Our list of parts didn’t have a physical description of the coin, what it looked like, so I sent an e-mail around saying, asking about the physical description and who was doing that. The response: Good point, and I was.
So I’m 22, I have an 1804 dollar on my desk, I’m trying to write about it, and I have two thoughts buzzing in my head: “Does it get any better than this?” and “What the heck am I doing?” Just when I’m about to drive myself crazy with those thoughts, I get another: “It’s still a coin. Just write about the coin.” That’s how I got myself settled enough to just sit down, write, and get the job done.
NH: Where do you see the numismatic industry heading in the next five years?
JDB: Actually, I don’t think about that too much. Since I’m a cataloger who doesn’t go to shows often, I’m rather insulated from market trends and why collectors are selling. If I were a consignment director, always talking to customers, I’d probably have a better answer.
NH: Besides being a cataloger, you wrote for the Heritage blog. What was your favorite topic to blog about?
JDB: Coins, but talking about coins to a different audience. Writing for a catalog, there are specific things to mention about a coin, its appearance, history, and so on, and it all has to be presented formally, like the different catalogers are speaking with a single voice. The blog allowed me to exercise a different voice, more conversational, more like myself. I couldn’t get away with a pop music reference in the catalog, like name-checking a Bowling for Soup song. I could do it in the blog.
NH: As someone who was an involved young numismatist, why do you think that there aren’t more young kids involved with the hobby?
NH: In regards to the previous question, what do you think can be done to get more kids to become involved with numismatics?
JDB: Numismatics will always be in competition with popular culture. I grew up in the 1990s, and for most of that time, if I had to choose between coin collecting and watching Nickelodeon, my first question would be, “Is Legends of the Hidden Temple on?” My best advice is to make coin collecting accessible and friendly, but also not to force the issue. I saw a lot of kids enthusiastic to be at coin shows, and more who were dragged there by parents and visibly annoyed. Some in the first group are still with the hobby. The second group? Almost none.
NH: Do you have any advice for young numismatists looking to prosper in the industry?
JDB: Step one is to figure out what you’d want to do if you weren’t a professional numismatist, and get a college degree that will let you pursue that other job. Being a professional numismatist isn’t for everyone, and you don’t want to be caught in a position where you hate your job and only have a high school diploma. Other successful numismatists have started after high school or dropped out of college to start work, but it’s not something I would recommend.
If you decide to become a professional numismatist, your relationship with the hobby is going to change, because it won’t be your hobby anymore, but your career. You have to be prepared for that. Having another hobby really helps, because after a hard day’s work, you’ll need a way to blow off some steam, and coin collecting won’t be able to fill that need for you. Myself, I’m a reader and gamer-geek.
Going out on your own and becoming a coin dealer is like any other entrepreneurial venture. It’s hard work and has a high chance of failure. Any longtime dealer who says there haven’t been any scary moments is a liar. Going to work for a large firm, like Heritage, offers more stability, but it comes with many of the same expectations as any other corporate career.
All that sounds like a big bucket of cold water, and that’s what it’s meant to be. Most people who think they want to be professional numismatists, YNs and adults alike, are better off keeping their hobby exactly that: a hobby. For others, though, being a professional numismatist is like a calling. If that’s where you are, I wish you the best, and I hope I get to congratulate you when you make it to the top.
All images courtesy of Heritage Auctions
Numismatic Hub: How did you first get involved with numismatics?
John Dale Beety: Most collectors have an “origin story.” The funny thing is that I don’t. Neither of my parents collected coins, so I didn’t get “the bug” there. All I remember is that in third grade I was sort of interested in coins, by fifth grade I was definitely interested in coins, and in middle school I was hooked and hopeless.
NH: You were quite an active young numismatist. How did your experiences as a young numismatist prepare you for your current career?
JDB: Being part of the coin-collecting community was really important for me growing up, and as I matured I seriously thought about numismatics as a career. I got so much encouragement and advice as a Young Numismatist, and from so many people, that it’d be impossible to name them all. It’s pretty much a case of “If you think you should be thanked, you’re right, and thank you.”
The names that come to mind, though, in rough timeline order: R.W. Julian, who was my hometown mentor, and all the rest of the Logansport Coin Club; Gail Baker, who got me my first YN scholarship to the Summer Seminar in Colorado Springs; Stuart Levine, who bought me my first coin book past the Guide Book (Pollock’s pattern reference) and told me to take numismatics as far as I wanted to take it; Julian Leidman, who gave me a great education and acted as my agent at the second Pittman Auction for less than the price of a steak dinner; Polly Edwards “Ms. Polly” Pittman and the rest of the Pittman family for two Buffalo nickels and all the encouragement a teenager could want; David W. Akers, for inspiring me to be a cataloger; and Paul Minshull, who gave me a chance to be an intern for Heritage and then a cataloger.
NH: Many college students hope to graduate and enter the “real world” with a secured job, but unfortunately that’s virtually never the case. You had the luxury of being hired right out of college. What was that experience like?
JDB: An exercise in persistence. I’d interned at Heritage two summers before I was hired, working with the Wholesale and Coin Consignment departments. I sent an e-mail response to a “help wanted” posting on the Heritage site looking for a coin cataloger. Paul Minshull was understandably skeptical—everyone else in the cataloging department is old enough to be my dad, after all—but he gave me a copy of the super-secret cataloging test, and he liked what he saw. The chief cataloger agreed, and I was in. I graduated from college in Indiana in May, and two weeks later I walked into the Heritage office in Dallas for my first day on the job. It was my 21st birthday. Best present ever? It’s close.NH: You work as a numismatic cataloger for Heritage Auction Galleries. What is your favorite aspect of your job?
JDB: Besides the coins, obviously? (laughs) The cataloging department has some great people. I’m one of four full-timers in the Dallas office. The chief cataloger, Mark van Winkle, is seriously underrated. He’s the ultimate Mr. Inside—a great coin mind who has been so loyal to Heritage and kept such a low profile overall that nobody really appreciates how much knowledge he has in his head. Our senior cataloger, Mark Borckardt, is more Mr. Outside. He has the books, the articles, the prominence, and he has so much talent and skill that he can back up all the hype he gets and then some. I used to be the new guy, but I’m not anymore, actually. We have another full-time cataloger, Dave Stone. He isn’t well-known outside of Heritage, but he has an amazing numismatic library and he knows how to use it. Great guy, too. Co-workers and bosses make any desk job, as cataloging is, and I’m lucky to have the ones I do.
NH: Your job permits you to view and handle some of the rarest coins in existence. Is it possible to choose your favorite piece?
JDB: I’m a U.S. coin cataloger, but I’m going to go outside the U.S. and to Canada. I helped the World Coins department catalog the Canadiana Collection, and one of the coins I wrote was a 1936 Dot cent. The 1936 Dot cent is the most iconic rarity of Canadian coinage, almost like Canada’s answer to the U.S. 1804 dollar. David W. Akers spent several years in the 1990s cataloging and selling the Pittman Collection, and that 1936 Dot cent had been part of the collection. I’ve already said that Mr. Akers was my inspiration to become a cataloger, so being able to follow in his footsteps on that coin was a thrill.
NH: What has been your most momentous experience in your numismatic career?
JDB: Early 2008. The Queller Family Collection of Silver Dollars comes in, and the centerpiece is an 1804 dollar, a Class I or Original. We decided to do a multipart description—one person talks about the history, another about originals versus restrikes, and so on—so we’d all have a piece of the description. Then we parceled out different pieces to different catalogers. Our list of parts didn’t have a physical description of the coin, what it looked like, so I sent an e-mail around saying, asking about the physical description and who was doing that. The response: Good point, and I was.
So I’m 22, I have an 1804 dollar on my desk, I’m trying to write about it, and I have two thoughts buzzing in my head: “Does it get any better than this?” and “What the heck am I doing?” Just when I’m about to drive myself crazy with those thoughts, I get another: “It’s still a coin. Just write about the coin.” That’s how I got myself settled enough to just sit down, write, and get the job done.
NH: Where do you see the numismatic industry heading in the next five years?
JDB: Actually, I don’t think about that too much. Since I’m a cataloger who doesn’t go to shows often, I’m rather insulated from market trends and why collectors are selling. If I were a consignment director, always talking to customers, I’d probably have a better answer.
NH: Besides being a cataloger, you wrote for the Heritage blog. What was your favorite topic to blog about?
JDB: Coins, but talking about coins to a different audience. Writing for a catalog, there are specific things to mention about a coin, its appearance, history, and so on, and it all has to be presented formally, like the different catalogers are speaking with a single voice. The blog allowed me to exercise a different voice, more conversational, more like myself. I couldn’t get away with a pop music reference in the catalog, like name-checking a Bowling for Soup song. I could do it in the blog.
NH: As someone who was an involved young numismatist, why do you think that there aren’t more young kids involved with the hobby?
JDB: I look at it a different way. How do we have so many now? Compared to when I was an active Young Numismatist, I’ve seen many more YNs come through the ranks. I really credit things like the 50 States Quarters® program. It’s given kids a good place to start with collecting, which I think was missing through most of the 1990s.
NH: In regards to the previous question, what do you think can be done to get more kids to become involved with numismatics?
JDB: Numismatics will always be in competition with popular culture. I grew up in the 1990s, and for most of that time, if I had to choose between coin collecting and watching Nickelodeon, my first question would be, “Is Legends of the Hidden Temple on?” My best advice is to make coin collecting accessible and friendly, but also not to force the issue. I saw a lot of kids enthusiastic to be at coin shows, and more who were dragged there by parents and visibly annoyed. Some in the first group are still with the hobby. The second group? Almost none.
NH: Do you have any advice for young numismatists looking to prosper in the industry?
JDB: Step one is to figure out what you’d want to do if you weren’t a professional numismatist, and get a college degree that will let you pursue that other job. Being a professional numismatist isn’t for everyone, and you don’t want to be caught in a position where you hate your job and only have a high school diploma. Other successful numismatists have started after high school or dropped out of college to start work, but it’s not something I would recommend.
If you decide to become a professional numismatist, your relationship with the hobby is going to change, because it won’t be your hobby anymore, but your career. You have to be prepared for that. Having another hobby really helps, because after a hard day’s work, you’ll need a way to blow off some steam, and coin collecting won’t be able to fill that need for you. Myself, I’m a reader and gamer-geek.
Going out on your own and becoming a coin dealer is like any other entrepreneurial venture. It’s hard work and has a high chance of failure. Any longtime dealer who says there haven’t been any scary moments is a liar. Going to work for a large firm, like Heritage, offers more stability, but it comes with many of the same expectations as any other corporate career.
All that sounds like a big bucket of cold water, and that’s what it’s meant to be. Most people who think they want to be professional numismatists, YNs and adults alike, are better off keeping their hobby exactly that: a hobby. For others, though, being a professional numismatist is like a calling. If that’s where you are, I wish you the best, and I hope I get to congratulate you when you make it to the top.
All images courtesy of Heritage Auctions
Tuesday, March 1, 2011
I Don't Even Know What To Say About This!
Words cannot adequately describe this auction, and especially its seller.
Clearly this coin is junk and the auction as a whole is even more ridiculous. What's even more ridiculous is the asking price! With a starting price of $50,000, it's hard to imagine how rare this coin must be. To bad the auction ended already or I would have hit the "Buy It Now" button to buy that bad boy for a measly $150,000.
This guy claims that if you buy this coin, it will be the best investment that you will ever make!
My favorite line from the auction is "when this auction is over, it will be able to sell 2 to 3 times the amount i am selling for. you can hold on to it and keep as a collector or you can sell it for like at least 5 million."
REALLY!? So if I buy this coin, I can turn around and sell it for 2 to 3 times more than than I bought it for? I'M IN!
Check this auction out becuase I can't go on anymore! REALLY?
Clearly this coin is junk and the auction as a whole is even more ridiculous. What's even more ridiculous is the asking price! With a starting price of $50,000, it's hard to imagine how rare this coin must be. To bad the auction ended already or I would have hit the "Buy It Now" button to buy that bad boy for a measly $150,000.
This guy claims that if you buy this coin, it will be the best investment that you will ever make!
My favorite line from the auction is "when this auction is over, it will be able to sell 2 to 3 times the amount i am selling for. you can hold on to it and keep as a collector or you can sell it for like at least 5 million."
REALLY!? So if I buy this coin, I can turn around and sell it for 2 to 3 times more than than I bought it for? I'M IN!
Check this auction out becuase I can't go on anymore! REALLY?
Sunday, February 27, 2011
That's not a PCGS slab!
This seller is a little confused, for some odd reason he thinks that this coin is in a PCGS slab. Now, I'm not expert, but I think that slabs are made of plastic. Actually, on that note, this "slab" looks more like a cardboard 2X2 holder.
Check it out for yourself- That's not a slab!
Check it out for yourself- That's not a slab!
Interview with Curator of the ANA Money Museum, Douglas Mudd
Our latest installment in the Numismatic Hub's "Minds of Numismatists" interview series is with Douglas Mudd, former manager of the National Numismatic Collection at the Smithsonian Institution. Mr. Mudd is currently the curator of the American Numismatic Association’s Edward C. Rochette Money Museum.
Numismatic Hub- As the son of an American diplomat, you spent your early years moving from country to country. How did you get involved with numismatics?
Douglas Mudd: My father was a collector of Spanish Colonial and ancient coins – so I was always exposed to coins from a very early age. By the time I was ten, when we were in Bolivia, I would accompany my dad as he visited the various coin dealers that he knew – that was when I acquired my first coin, a Spanish quartillo. Later, when we lived in Syria, I collected a few ancient Roman coins and contemporary Syrian, Egyptian and Lebanese coins.
NH: You received your BA at the College of William and Mary. How did you come to work at the Smithsonian?
DM: I graduated from W&M in 1985 and applied for a position at the Smithsonian as a Temporary Museum Technician with the MOVE project at the National Museum of Natural History. I worked there for three years packing, moving, cleaning and recording all sorts of collections from botany to mineralogy. It was a great way to learn about museums and museum collections!
NH: The National Numismatic Collection contains some of the rarest numismatic pieces in existence. You served as the Collection Manager for the National Numismatic Collection for over 14 years, what was that experience like?
DM: It was fantastic – I was really spoiled by the number and quality of the objects in the collection. From the DuPont/Michaelovich collection of Russian coins and medals to the amazing Chase Manhattan collection and the US Mint cabinet, the National Numismatic collection is just full of rare and historically invaluable items – each of which was waiting for its story to be told! There was some frustration also – it was very difficult to get exhibits done since each idea (no matter how small) had to go through a lengthy review and approval process and then had to wait for the availability of a designer and a fabricator from the exhibits department. The really frustrating part was not having the time to really get to research the collection – I was able to do a little at a time, and being the photographer (another hat I wore while working at NNC), I did get to work with a large part of the collection over the years (over 8,000 slides alone!).
NH: At the Smithsonian, you were responsible for the care, storage and security of 1.6 million items in the numismatic collection. What kind of planning goes into maintaining the integrity of the rarest numismatic items in existence?
DM: Quite a bit! The planning ranges from how to categorize and organize the objects to how to store them and complete periodic checks. With 128 coin cabinets, each with 80 drawers capable of holding up to 80 dollar-size coins – not to mention the storage for the paper money collection (over 2000 linear feet of shelving!), there is a lot to do just to keep track of everything. Some areas are easy to organize, based on how other numismatic museums and collectors organize their collections – others are not so easy – especially items like medals, where there is no standard way to organize all medals.
NH: What goes into creating an awe-inspiring numismatic exhibit?
DM: To start with, you need a theme – without it, even the greatest objects cannot make an exhibit great. It helps to have amazing objects to work with, whether they are amazing due to their rarity or value, or because of the stories they can tell through their imagery and verbiage. The biggest problem in creating an exhibit (to me) is how to tell an interesting and historically accurate story in an extremely limited space – how do you say something meaningful about Abraham Lincoln in 125 words?! Or the origins of money? The key is to stick to your theme and be as precise and concise as possible in your writing. The next most important element in a great exhibit is to have a great designer (I have been extremely lucky at the ANA to be able to work with Leslie Wigington – the best designer I have had the privilege to work with!) and, for numismatic exhibits, great images of the objects – coins are small, and it helps if you can use blow-ups of them to highlight their beauty.
NH: With the dominance of the internet and its increasing digital capabilities, do you think there is a threat to “physical” museums and exhibits?
DM: No – people will always want to see the real thing in person, especially in the case of interactive museums where you can also touch the objects. I do not see museums and the internet as competing – the internet actually vastly expands the ability of museums to reach audiences through virtual exhibits. People who would never otherwise get a chance to see a particular museum or exhibit now get the chance. Digital exhibits are a great thing for numismatics because they allow you to see objects at many times their actual size – but they also give a distorted view of them since they are not viewed at actual size – the bests of both worlds is to combine digital presentations with physical exhibits.
NH: In 2004, you joined the staff of the American Numismatic Association as the curator of the Edward C. Rochette Money Museum. What was making the move to a considerably smaller museum like?
DM: There is definitely a major difference when moving from a museum like the Smithsonian Institution with thousands of employees to a small museum like the Edward C. Rochette Money Museum, but not as big as you might suppose. Even in large museums, most departments are relatively small and often work fairly independently. The big difference is that at a small museum you will be doing multiple tasks and have fewer resources – conversely, you will not have to go through as many layers of bureaucracy to get things done! At the ANA we can get a single case exhibit done in a week from start to finish – at the Smithsonian the same case might take six months…
NH: You are an esteemed author and in your article, “Plastic Cash: A History of Money and the Credit Card in America,” you talk about the future of our currency. Do you think we will ever experience a completely “electronic” society?
DM: Not any time soon – human nature being what it is, there will still be plenty of transactions that will require cash for the foreseeable future either for reasons of privacy, or to skirt the law, or simply because the transaction is too small to warrant the expense of completing an electronic paper trail (such as at flea markets). A major overriding reason that coins and paper currency will not disappear anytime soon is that governments make a huge profit in producing currency. The U.S. makes a 93 cent profit on every dollar bill it prints! Not until governments can find a way to make an equivalent profit off of electronic transactions will they stop producing currency. (Right now, the banks are making the profits…)
NH: What has been your most momentous moment in your career?
DM: Difficult question… I have had the privilege of dealing with some very accomplished and famous people and objects in my career so far, but I guess the most momentous moment for me was the publication of my book “All the Money in the World” in 2006. It was pretty amazing to see my name in print as the author of such a beautifully produced book!
Numismatic Hub- As the son of an American diplomat, you spent your early years moving from country to country. How did you get involved with numismatics?
Douglas Mudd: My father was a collector of Spanish Colonial and ancient coins – so I was always exposed to coins from a very early age. By the time I was ten, when we were in Bolivia, I would accompany my dad as he visited the various coin dealers that he knew – that was when I acquired my first coin, a Spanish quartillo. Later, when we lived in Syria, I collected a few ancient Roman coins and contemporary Syrian, Egyptian and Lebanese coins.
NH: You received your BA at the College of William and Mary. How did you come to work at the Smithsonian?
DM: I graduated from W&M in 1985 and applied for a position at the Smithsonian as a Temporary Museum Technician with the MOVE project at the National Museum of Natural History. I worked there for three years packing, moving, cleaning and recording all sorts of collections from botany to mineralogy. It was a great way to learn about museums and museum collections!
NH: The National Numismatic Collection contains some of the rarest numismatic pieces in existence. You served as the Collection Manager for the National Numismatic Collection for over 14 years, what was that experience like?
DM: It was fantastic – I was really spoiled by the number and quality of the objects in the collection. From the DuPont/Michaelovich collection of Russian coins and medals to the amazing Chase Manhattan collection and the US Mint cabinet, the National Numismatic collection is just full of rare and historically invaluable items – each of which was waiting for its story to be told! There was some frustration also – it was very difficult to get exhibits done since each idea (no matter how small) had to go through a lengthy review and approval process and then had to wait for the availability of a designer and a fabricator from the exhibits department. The really frustrating part was not having the time to really get to research the collection – I was able to do a little at a time, and being the photographer (another hat I wore while working at NNC), I did get to work with a large part of the collection over the years (over 8,000 slides alone!).
NH: At the Smithsonian, you were responsible for the care, storage and security of 1.6 million items in the numismatic collection. What kind of planning goes into maintaining the integrity of the rarest numismatic items in existence?
DM: Quite a bit! The planning ranges from how to categorize and organize the objects to how to store them and complete periodic checks. With 128 coin cabinets, each with 80 drawers capable of holding up to 80 dollar-size coins – not to mention the storage for the paper money collection (over 2000 linear feet of shelving!), there is a lot to do just to keep track of everything. Some areas are easy to organize, based on how other numismatic museums and collectors organize their collections – others are not so easy – especially items like medals, where there is no standard way to organize all medals.
 |
| An exhibit from the Smithsonian coin exhibit |
NH: What goes into creating an awe-inspiring numismatic exhibit?
DM: To start with, you need a theme – without it, even the greatest objects cannot make an exhibit great. It helps to have amazing objects to work with, whether they are amazing due to their rarity or value, or because of the stories they can tell through their imagery and verbiage. The biggest problem in creating an exhibit (to me) is how to tell an interesting and historically accurate story in an extremely limited space – how do you say something meaningful about Abraham Lincoln in 125 words?! Or the origins of money? The key is to stick to your theme and be as precise and concise as possible in your writing. The next most important element in a great exhibit is to have a great designer (I have been extremely lucky at the ANA to be able to work with Leslie Wigington – the best designer I have had the privilege to work with!) and, for numismatic exhibits, great images of the objects – coins are small, and it helps if you can use blow-ups of them to highlight their beauty.
NH: With the dominance of the internet and its increasing digital capabilities, do you think there is a threat to “physical” museums and exhibits?
DM: No – people will always want to see the real thing in person, especially in the case of interactive museums where you can also touch the objects. I do not see museums and the internet as competing – the internet actually vastly expands the ability of museums to reach audiences through virtual exhibits. People who would never otherwise get a chance to see a particular museum or exhibit now get the chance. Digital exhibits are a great thing for numismatics because they allow you to see objects at many times their actual size – but they also give a distorted view of them since they are not viewed at actual size – the bests of both worlds is to combine digital presentations with physical exhibits.
NH: In 2004, you joined the staff of the American Numismatic Association as the curator of the Edward C. Rochette Money Museum. What was making the move to a considerably smaller museum like?
DM: There is definitely a major difference when moving from a museum like the Smithsonian Institution with thousands of employees to a small museum like the Edward C. Rochette Money Museum, but not as big as you might suppose. Even in large museums, most departments are relatively small and often work fairly independently. The big difference is that at a small museum you will be doing multiple tasks and have fewer resources – conversely, you will not have to go through as many layers of bureaucracy to get things done! At the ANA we can get a single case exhibit done in a week from start to finish – at the Smithsonian the same case might take six months…
NH: You are an esteemed author and in your article, “Plastic Cash: A History of Money and the Credit Card in America,” you talk about the future of our currency. Do you think we will ever experience a completely “electronic” society?
DM: Not any time soon – human nature being what it is, there will still be plenty of transactions that will require cash for the foreseeable future either for reasons of privacy, or to skirt the law, or simply because the transaction is too small to warrant the expense of completing an electronic paper trail (such as at flea markets). A major overriding reason that coins and paper currency will not disappear anytime soon is that governments make a huge profit in producing currency. The U.S. makes a 93 cent profit on every dollar bill it prints! Not until governments can find a way to make an equivalent profit off of electronic transactions will they stop producing currency. (Right now, the banks are making the profits…)
NH: What has been your most momentous moment in your career?
DM: Difficult question… I have had the privilege of dealing with some very accomplished and famous people and objects in my career so far, but I guess the most momentous moment for me was the publication of my book “All the Money in the World” in 2006. It was pretty amazing to see my name in print as the author of such a beautifully produced book!
Friday, February 11, 2011
Interview with Co-Chairman of Heritage Auctions, Jim Halperin
Jim Halperin is the Co-Chairman of Heritage Auction Galleries (http://www.HA.com/), the world’s largest collectibles auctioneer and third largest auction house. Heritage was established in 1976, and today does more than $600 million in annual sales and boasts more than 500,000 registered online members.
Numismatic Hub: By the time you were 15, you had already established a flourishing business. Would you say that you possessed something that other kids your age didn’t?
Jim Halperin: Yes, I was an unusually ambitious and focused kid, which is not as wonderful as it sounds. Another description would be relentless. Luckily, I was also blessed with understanding parents. I couldn’t have been an easy child to raise, though by now they have forgiven, and largely forgotten, all the grief I put them through.
NH: Starting numerous businesses before entering college is unquestionably an astounding accomplishment. Would you consider yourself to be “Jim Halperin, the entrepreneur,” or “Jim Halperin the collector?”
NH: After receiving an early acceptance to Harvard College and studying there for three semesters, you took a permanent leave of absence to pursue your numismatic career. What was it like to make that integral decision?
JH: It was hard on my dad, but an easy decision for me. I couldn’t seem to attract a girlfriend at Harvard no matter how hard I tried, hated sitting through lectures, and loved buying and selling coins to and from all the dealers in Boston.
NH: In 1982 you formed a merger with Steve Ivy, who at the time owned the Steve Ivy Rare Coin Co. Upon forming the merger, did you ever conceive that Heritage would grow into the third largest auction house in the world?
JH: No. But I knew we’d be very successful at something!
NH: In 1984, you and your partner, Steve Ivy, formed the Numismatic Certification Institute (N.C.I) in an attempt to standardize coin grading. The concept became the inspiration for the formation of the top grading companies today. Why didn’t N.C.I continue to flourish?
JH: PCGS developed a better product. Also, PCGS’s founder David Hall, whether accidentally or by design, tightened the grading standard (though that standard eventually loosened some years after we closed down. NCI and many NCI coins were subsequently graded the same or higher by PCGS). Our problem was that telemarketers began to overcharge for NCI-graded coins. Even though we had very specific disclosure on the back of every NCI certificate, many of telemarketers were still selling NCI coins at Grey Sheet prices, which were now based on PCGS standards. No one forced us to close NCI, which was still very profitable, but Steve and I realized this sort of activity wasn’t good for the coin business in the long run, so we decided we wanted no part of it.
NH: “How to Grade U.S Coins” is a book that you authored, why was it so instrumental in changing the way coins are graded today?
JH: Nobody had really tried to articulate the thought processes of U.S. coin dealers looking at and evaluating mint state and proof coins. A lot of people could have written that book; I just happened to be the first one to attempt it.
NH: Heritage Auctions has grown into the world’s largest collectibles auctioneer and has auctioned some of the rarest and unique items in existence. Out of all of the auctions facilitated by Heritage, which would you say was your favorite?
JH: That’s easy, too: Our first Platinum Night auction, which took place at FUN in January 2004, because it was such a game changer. Just to give you an idea of the effect it had on our position in the auction business, consider that before that sale HA, though already the leading numismatic auctioneer, had never auctioned a seven-figure coin. Yet from January 2004 through today (January 16, 2011), 13 U.S. coins have sold at auction for $1.6 million or more – and HA auctioned all 13 of them!
NH: What is HA doing to continue its dominance in the industry into the future?
JH: It’s all about bringing more buyers to our auctions, which creates higher prices. We attract more buyers by leveling the playing field between experts and beginners, and by saving buyers time. I figure if educated buyers are willing to pay over market for a rare coin or other valuable object because they really want it right now, that’s great. But if someone overpays because he or she was tricked or not given unbiased information, our entire industry risks losing that buyer forever.
NH: The numismatic industry has undoubtedly changed in the past ten years, where do you see the industry heading in the next ten years?
JH: Technology and competition will continue to drive bigger volume and lower margins. We embrace that trend, because we want to help even the busiest collectors buy more intelligently. Thus, their hobby can also be a good investment, and more mainstream buyers will be attracted to our field through word of mouth.
I remember when I was back in Boston in the late 1970s, our neighbor, Fidelity Investments, was attempting to bring stock market investing into the mainstream through lower friction costs and more accessible information. Now HA wants to do the same for coins, though on a somewhat smaller scale, of course. I believe that if numismatics becomes a safer, easier and more transparent market, more and more people will buy coins as an asset diversification, creating significant wealth and helping our entire industry prosper.
NH: Your private collection of collectibles is truly extraordinary; are you able pick your favorite piece?
JH: Yes, Harvey Kurtzman’s original cover art for the first issue of MAD Magazine. I actually bought the border and logo separately, and reassembled the cover. It’s hard to think of a more seminal piece of popular culture artwork.
NH: Can you tell us what you consider to be your most momentous moment in your numismatic career?
 |
| Jim Halperin |
Numismatic Hub: By the time you were 15, you had already established a flourishing business. Would you say that you possessed something that other kids your age didn’t?
Jim Halperin: Yes, I was an unusually ambitious and focused kid, which is not as wonderful as it sounds. Another description would be relentless. Luckily, I was also blessed with understanding parents. I couldn’t have been an easy child to raise, though by now they have forgiven, and largely forgotten, all the grief I put them through.
NH: Starting numerous businesses before entering college is unquestionably an astounding accomplishment. Would you consider yourself to be “Jim Halperin, the entrepreneur,” or “Jim Halperin the collector?”
JH: Jim Halperin, the entrepreneur, definitely. Collecting is a hobby, though I justify it in my mind as an investment, too. Also as market research!
JH: It was hard on my dad, but an easy decision for me. I couldn’t seem to attract a girlfriend at Harvard no matter how hard I tried, hated sitting through lectures, and loved buying and selling coins to and from all the dealers in Boston.
NH: In 1982 you formed a merger with Steve Ivy, who at the time owned the Steve Ivy Rare Coin Co. Upon forming the merger, did you ever conceive that Heritage would grow into the third largest auction house in the world?
JH: No. But I knew we’d be very successful at something!
NH: In 1984, you and your partner, Steve Ivy, formed the Numismatic Certification Institute (N.C.I) in an attempt to standardize coin grading. The concept became the inspiration for the formation of the top grading companies today. Why didn’t N.C.I continue to flourish?
JH: PCGS developed a better product. Also, PCGS’s founder David Hall, whether accidentally or by design, tightened the grading standard (though that standard eventually loosened some years after we closed down. NCI and many NCI coins were subsequently graded the same or higher by PCGS). Our problem was that telemarketers began to overcharge for NCI-graded coins. Even though we had very specific disclosure on the back of every NCI certificate, many of telemarketers were still selling NCI coins at Grey Sheet prices, which were now based on PCGS standards. No one forced us to close NCI, which was still very profitable, but Steve and I realized this sort of activity wasn’t good for the coin business in the long run, so we decided we wanted no part of it.
NH: “How to Grade U.S Coins” is a book that you authored, why was it so instrumental in changing the way coins are graded today?
JH: Nobody had really tried to articulate the thought processes of U.S. coin dealers looking at and evaluating mint state and proof coins. A lot of people could have written that book; I just happened to be the first one to attempt it.
 |
| Obtained by Joseph J. Mickley. Sold at auction for $3,725,000 by Heritage Auction Galleries, May, 2008, as part of the Queller Family Collection |
NH: Heritage Auctions has grown into the world’s largest collectibles auctioneer and has auctioned some of the rarest and unique items in existence. Out of all of the auctions facilitated by Heritage, which would you say was your favorite?
JH: That’s easy, too: Our first Platinum Night auction, which took place at FUN in January 2004, because it was such a game changer. Just to give you an idea of the effect it had on our position in the auction business, consider that before that sale HA, though already the leading numismatic auctioneer, had never auctioned a seven-figure coin. Yet from January 2004 through today (January 16, 2011), 13 U.S. coins have sold at auction for $1.6 million or more – and HA auctioned all 13 of them!
NH: What is HA doing to continue its dominance in the industry into the future?
JH: It’s all about bringing more buyers to our auctions, which creates higher prices. We attract more buyers by leveling the playing field between experts and beginners, and by saving buyers time. I figure if educated buyers are willing to pay over market for a rare coin or other valuable object because they really want it right now, that’s great. But if someone overpays because he or she was tricked or not given unbiased information, our entire industry risks losing that buyer forever.
NH: The numismatic industry has undoubtedly changed in the past ten years, where do you see the industry heading in the next ten years?
JH: Technology and competition will continue to drive bigger volume and lower margins. We embrace that trend, because we want to help even the busiest collectors buy more intelligently. Thus, their hobby can also be a good investment, and more mainstream buyers will be attracted to our field through word of mouth.
I remember when I was back in Boston in the late 1970s, our neighbor, Fidelity Investments, was attempting to bring stock market investing into the mainstream through lower friction costs and more accessible information. Now HA wants to do the same for coins, though on a somewhat smaller scale, of course. I believe that if numismatics becomes a safer, easier and more transparent market, more and more people will buy coins as an asset diversification, creating significant wealth and helping our entire industry prosper.
NH: Your private collection of collectibles is truly extraordinary; are you able pick your favorite piece?
JH: Yes, Harvey Kurtzman’s original cover art for the first issue of MAD Magazine. I actually bought the border and logo separately, and reassembled the cover. It’s hard to think of a more seminal piece of popular culture artwork.
 |
| Cover of first issue of MAD Magazine. Image: EC Publications |
NH: Can you tell us what you consider to be your most momentous moment in your numismatic career?
JH: Launching HA’s first interactive bidding web site (HeritageCoin.com) in 1998, alongside an amazing team of programmers and developers.
Sunday, February 6, 2011
"What NOT to do on eBay"- Gloves Please!
A rule of thumb to remember while handling coins (no pun intended) is to never touch the fields of the coin. Any time you pick up a coin it should be by the coins rim. Failure to properly hold a coin will result in unsighlt fingerprints all over the coin and can greatly decrease the value of the coin.
If you don't trust yourself to properly hold a coin, pick up some cotton gloves to wear. This way, you really don't have to worry about ruining a coin.
Please don't be like the owners of these coins, who clearly do not know the first thing about proper coin handling! Auction 1 Auction 2
If you don't trust yourself to properly hold a coin, pick up some cotton gloves to wear. This way, you really don't have to worry about ruining a coin.
Please don't be like the owners of these coins, who clearly do not know the first thing about proper coin handling! Auction 1 Auction 2
Saturday, February 5, 2011
"What NOT to do on eBay"- USA! USA! USA!
Politics, for many, can turn into hot headed argument in a matter of seconds and political figures often face scrutiny from those who oppose them.
Basically everybody associates with one political party or another, so what is a better way to show your love towards your favorite politician than a colorized version of their face on a quarter!?
These lovely pieces come from a "Top Rated Seller" with 100% positive feedback, who is selling a lot of colorized items. These items are currently at .01, which may be considered a bargain to some, but I doubt they will bring more than a dollar each. You can follow one of the auctions here- USA! USA! USA!
Basically everybody associates with one political party or another, so what is a better way to show your love towards your favorite politician than a colorized version of their face on a quarter!?
These lovely pieces come from a "Top Rated Seller" with 100% positive feedback, who is selling a lot of colorized items. These items are currently at .01, which may be considered a bargain to some, but I doubt they will bring more than a dollar each. You can follow one of the auctions here- USA! USA! USA!
Friday, February 4, 2011
"What NOT to do on eBay"- Is that a black hole?
When selling on eBay, one of the key components to the perfect listing is the picture. The picture aspect of the listing can make or break the sale and directly effect the sale price of the coin.
Taking beautiful pictures of your coins for your listing can be quite difficult, but you don't have to be a professional photographer to take a decent picture. With a little time and patience, you can take a pretty decent picture with a point and shoot camera or even use a scanner!
As you get ready to take that picture for your listing, please don't be like this seller- Black Hole
The seller describes the coin as being in "good condition," but you cannot tell anything about this coin from the picture!
Remember, you can have the most beautiful coin in the world, but if you can't take a picture of it, the value of the coin on eBay is severly less!
Taking beautiful pictures of your coins for your listing can be quite difficult, but you don't have to be a professional photographer to take a decent picture. With a little time and patience, you can take a pretty decent picture with a point and shoot camera or even use a scanner!
As you get ready to take that picture for your listing, please don't be like this seller- Black Hole
The seller describes the coin as being in "good condition," but you cannot tell anything about this coin from the picture!
Remember, you can have the most beautiful coin in the world, but if you can't take a picture of it, the value of the coin on eBay is severly less!
Thursday, February 3, 2011
"What NOT to do on eBay"- STOP SHAKING THE CAMERA!
Picture This- You have a beautiful coin that you want to sell on eBay, yet you need to start making dinner for your hungry family. You decide that in the midst of boiling water for some pasta, you'll whip out your point and shoot camera and take pictures of the coin. As you are about to to take your first picture you see the water boiling over the pot. You quickly take a picture of both sides of the coin and run over to the stove, successfully deterring the water from boiling everywhere. Proud to have graciously multi tasked, you create the eBay listing and sit down to a delicious meal with your family.
Now, I'm not saying that this was the case in this situation
but c'mon you can't even see the coin! What Is That?
By the way, here's what the coin is supposed to look like:
Wednesday, February 2, 2011
"What NOT to do on eBay"- Lucky Penny
"Find a penny, pick it up. All day long, you'll have good luck." Everyone has probably heard this rhyme and has found themselves picking up that "heads up" penny with the hopes of gaining some good luck.
I think picking this penny up might actually give you bad luck instead of good luck!
The seller describes this "error coin" as having "trully incredible amounts of errors." Clearly this is not the case. This coin suffered some heavy post mint damage and is not an error coin at all. I feel like someone should tell this seller what he really has and save him some of the trouble!
You can follow the auction here- Lucky Penny
I think picking this penny up might actually give you bad luck instead of good luck!
The seller describes this "error coin" as having "trully incredible amounts of errors." Clearly this is not the case. This coin suffered some heavy post mint damage and is not an error coin at all. I feel like someone should tell this seller what he really has and save him some of the trouble!
You can follow the auction here- Lucky Penny
"What NOT to do on eBay"- $15 for THAT!?
If you're going to take the time to create an eBay listing, shouldn't you know what your trying to sell?
The answer is undoubtedly yes, but that isn't the case with this listing- $15 For That!?
I'm going to go out on a limb and say that the seller assumes he has a silver quarter, which is not the case. Washington quarters were minted in silver from 1932 until 1964. In 1965, the composition of the Washington quarter was changed to its current composition of .750 copper, .250 nickel bonded to a pure copper core.
Now even if the coin in the auction was silver, it's melt value would only be about $5, making it's $15 starting price just a ridiculous amount of money.
The answer is undoubtedly yes, but that isn't the case with this listing- $15 For That!?
I'm going to go out on a limb and say that the seller assumes he has a silver quarter, which is not the case. Washington quarters were minted in silver from 1932 until 1964. In 1965, the composition of the Washington quarter was changed to its current composition of .750 copper, .250 nickel bonded to a pure copper core.
Now even if the coin in the auction was silver, it's melt value would only be about $5, making it's $15 starting price just a ridiculous amount of money.
Tuesday, February 1, 2011
"What NOT to do on eBay"- Is There a Doctor in the House?
Alright, I'm going to cut to the chase here. Coin Doctoring is bad! Coin doctors have become increasingly active in recent years. What these "doctors" do is tamper with coins, to make them appear better-and more valuable-than they really are.
Natural toning happens over time and is the result of the metal naturally reacting to its environment. In the past couple of decades, we have seen outrageously toned coins commanding outrageous amounts of money.
"Doctors," fueled by greed, continually try new methods of artificially toning coins. Most of the time, these coins are easily recognizable and you should stay AWAY from them.
Usually coin doctors are discreet about their craft, but this guy is out in the open! I actually can not believe this auction, you can check it out here- Are You Kidding Me?
Natural toning happens over time and is the result of the metal naturally reacting to its environment. In the past couple of decades, we have seen outrageously toned coins commanding outrageous amounts of money.
"Doctors," fueled by greed, continually try new methods of artificially toning coins. Most of the time, these coins are easily recognizable and you should stay AWAY from them.
Usually coin doctors are discreet about their craft, but this guy is out in the open! I actually can not believe this auction, you can check it out here- Are You Kidding Me?
Monday, January 31, 2011
"What NOT to do on eBay"- Nice Stickers!
There's nothing wrong with a little advertising; there are ads on pizza boxes, on the sides of buildings and even hanging over toilets in the bathroom and they definitely grab your attention.
So when does to much advertising become to much?
These are all pictures from auctions from a "Top Rated Seller" with 100% positive feedback and over 8000 transactions, so they are doing something right, but we can't imagine how many stickers they've gone through!
I'm a little confused with the math here:
1 Pizza= $20 coin
2 Pizzas= $20 coin
3 Pizzas= $21 coin
So what does it all equal?
Alot of Confusion!
So when does to much advertising become to much?
These are all pictures from auctions from a "Top Rated Seller" with 100% positive feedback and over 8000 transactions, so they are doing something right, but we can't imagine how many stickers they've gone through!
 |
| Can you tell me again how much it costs? |
 |
| $20 gets you this "nearly free" coin! |
 |
| Wow 101%Eye Appeal. That's Better than 100%! |
1 Pizza= $20 coin
2 Pizzas= $20 coin
So what does it all equal?
Alot of Confusion!
Sunday, January 30, 2011
First Installment of "What NOT to do on eBay"- Make Up Names
For our first installment of "What NOT to do on eBay" we have a prime example of a listing that is sure to drive potential bidders away. We at the Numismatic Hub do not endorse the listing at all and many may find it offensive, but clearly this seller doesn't care.
You can view the auction here-Hitler Error Coin
This seller is offering a "Hitler Error," which is actually nothing more than a small CUD or Die Crack on Roosevelt's upper lip. The seller even describes the coin as "Uncirculated," when the coin is clearly circulated.
Marketing strategy? Maybe, but really, it's nothing more than something that leaves a bad taste in my mouth.
Plus, it doesn't even look like Hitler.
You can view the auction here-Hitler Error Coin
This seller is offering a "Hitler Error," which is actually nothing more than a small CUD or Die Crack on Roosevelt's upper lip. The seller even describes the coin as "Uncirculated," when the coin is clearly circulated.
Marketing strategy? Maybe, but really, it's nothing more than something that leaves a bad taste in my mouth.
Plus, it doesn't even look like Hitler.
Friday, January 28, 2011
Interview with Coin Artist and Designer, Daniel Carr
This is our third installment of our interview series "Minds of Numismatists." Daniel Carr is the owner of Designs Computed, LLC and Moonlight Mint and is also the designer of the New York and Rhode Island State Quarters. You can check out more of Daniel's work on his websites:
http://designscomputed.com/coins/
http://www.moonlightmint.com/
http://www.dc-coin.com/
Numismatic Hub:You have a very unique profession, minting your own tokens and medallions. How did you get into this profession?
Daniel Carr: I’ve always been interested in coins, since I was 14 or so. I achieved a B.S. degree in Mechanical Engineering, and I liked doing art work as a hobby. Put the three together and you get minting.
NH: In 2007, you acquired a Grabener Coin Press, which was restored and is now used to strike the pieces that you design. What was that whole experience like?
DC: I had already been doing design and engraving for a while. I consider that to be the hardest part of the minting process to do well. I figured since I was already doing the hard part, I may as well do the “easy” part as well. So I started looking for a coin press – and a place to put one. I saw the Grabener press and knew that it was the one I wanted because of the Denver Mint heritage. It was offered to me on approval. But I still had to take a substantial risk in footing the bill to have it transported and set up, without even knowing if it worked. As it turns out, other than actually moving the machine, I ended up doing all the setup work, restoration, and most of all, debugging to get it operational. At first, half the time I spent was more of a “treasure hunt” looking for coin blanks and other interesting items hidden in the press and among the spare parts. After finally getting it working, I found that stamping coins wasn’t so easy. Perhaps not has hard as fine engraving, but not easy. I can say from experience that it is a lot easier to make an error coin than it is a normal coin because so many things can go wrong.
Grabener Coin Press
NH: How do you get from the design phase to the minting phase?
DC: I start with a drawing. I scan the drawing into a digital image. I import the image into a digital sculpting program that I wrote. My program converts image brightness into relief surface height. So initially, there is a flat surface with ridges where the drawing lines were. Then comes the hard part – filling out the relief to create a suitable digital sculpture. My program then outputs the control file to guide a computer-controlled milling/engraving machine through the cutting motions. The control file contains millions of 3-dimensional coordinates for the cutter path. Initially, I started cutting 8-inch black acrylic “galvanos”, which I then sent out to be mounted on a reduction lathe to cut dies. Then later, after some experimentation, I started cutting die steel myself. So now I go directly from digital to die, with no other intermediate steps.
NH: You design and mint numerous different coins and fantasy pieces. Where does the inspiration for the designs come from?
DC: I think like a coin collector. Inspiration comes from what I think would be interesting as a collector. I make things that I want. So I usually end up keeping one or more of each item I make to add to my own collection.
NH: Your designs were selected to be used on the New York and Rhode Island State Quarters. What goes through your head every time you see one of the coins in change?
DC: I think about how many people have seen and handled that particular coin. 99.9% of them probably don’t give a second thought about who designed it or why. Sometimes I say, “Hey, one of my quarters!”, and the cashier will look at me funny or ask what I’m talking about. And then I tell them I designed it and they say “Wow, neat,” but I know sometimes they are thinking this guy is full of it.
NH: Your designs have been finalists for numerous United State coins. How do you feel when one of your designs is not chosen?
DC: I never expect to win, so it isn’t really much of a disappointment. Now that I have a fully-functioning mint, if the design is not chosen, I can use elements of the design for other coins or medals – and sometimes that is better than winning outright.
NH: You helped spark rumors of a new currency with your “Amero” coins. The coins ignited a lot of controversy and maybe even some concern. Before you conceived the “Amero” coin, did you ever think they would ignite so much controversy?
DC: No, the reaction was way beyond what I expected. I hadn’t anticipated that a certain radio talk show host would make such a big deal about the official Amero proposals and my coins. His statements were often false and inflammatory. The resulting unintentional publicity was good for coin sales, however. My intent with the coins was to make an interesting conversation piece that would get people to think about the potential future.
Feathered Liberty Head 20 Ameros
NH: Out of all of your designs, which would you say is your favorite?
DC: At the moment, three come to mind (in chronological order):
2006 Nikola Tesla Sesquicentennial medal;
2009 Prosperity Tree / Weed Money Hard Times Token;
2010 Feathered Liberty Head 20-Ameros.
But, in general, my favorite is often the next one I’m working on, whatever that might be.
NH: What are your thoughts on the current designs that are being used on the coins for the Presidential Dollar series?
DC: There is only so much you can do with facial portraits of older men, placed in a small rigid space. I’m not a fan of making multiple designs that all have to conform to the same identical format. To me it seems that most modern coin designs suffer from too much simplicity and lack of style. Official design review groups such as the CFA and CCAC often call for “simpler” designs, which I think is wrong. Inevitably, all the style seems to get stripped out of potential designs by the review process. I do, however, greatly prefer dollar coins over dollar bills, and I sometimes spend 20 or 30 one-dollar coins at a time.
NH: What has been your proudest moment of your career?
DC: I don’t know, but I hope it is yet to come.
http://designscomputed.com/coins/
http://www.moonlightmint.com/
http://www.dc-coin.com/
Numismatic Hub:You have a very unique profession, minting your own tokens and medallions. How did you get into this profession?
Daniel Carr: I’ve always been interested in coins, since I was 14 or so. I achieved a B.S. degree in Mechanical Engineering, and I liked doing art work as a hobby. Put the three together and you get minting.
NH: In 2007, you acquired a Grabener Coin Press, which was restored and is now used to strike the pieces that you design. What was that whole experience like?
DC: I had already been doing design and engraving for a while. I consider that to be the hardest part of the minting process to do well. I figured since I was already doing the hard part, I may as well do the “easy” part as well. So I started looking for a coin press – and a place to put one. I saw the Grabener press and knew that it was the one I wanted because of the Denver Mint heritage. It was offered to me on approval. But I still had to take a substantial risk in footing the bill to have it transported and set up, without even knowing if it worked. As it turns out, other than actually moving the machine, I ended up doing all the setup work, restoration, and most of all, debugging to get it operational. At first, half the time I spent was more of a “treasure hunt” looking for coin blanks and other interesting items hidden in the press and among the spare parts. After finally getting it working, I found that stamping coins wasn’t so easy. Perhaps not has hard as fine engraving, but not easy. I can say from experience that it is a lot easier to make an error coin than it is a normal coin because so many things can go wrong.
Grabener Coin Press
NH: How do you get from the design phase to the minting phase?
DC: I start with a drawing. I scan the drawing into a digital image. I import the image into a digital sculpting program that I wrote. My program converts image brightness into relief surface height. So initially, there is a flat surface with ridges where the drawing lines were. Then comes the hard part – filling out the relief to create a suitable digital sculpture. My program then outputs the control file to guide a computer-controlled milling/engraving machine through the cutting motions. The control file contains millions of 3-dimensional coordinates for the cutter path. Initially, I started cutting 8-inch black acrylic “galvanos”, which I then sent out to be mounted on a reduction lathe to cut dies. Then later, after some experimentation, I started cutting die steel myself. So now I go directly from digital to die, with no other intermediate steps.
NH: You design and mint numerous different coins and fantasy pieces. Where does the inspiration for the designs come from?
DC: I think like a coin collector. Inspiration comes from what I think would be interesting as a collector. I make things that I want. So I usually end up keeping one or more of each item I make to add to my own collection.
NH: Your designs were selected to be used on the New York and Rhode Island State Quarters. What goes through your head every time you see one of the coins in change?
DC: I think about how many people have seen and handled that particular coin. 99.9% of them probably don’t give a second thought about who designed it or why. Sometimes I say, “Hey, one of my quarters!”, and the cashier will look at me funny or ask what I’m talking about. And then I tell them I designed it and they say “Wow, neat,” but I know sometimes they are thinking this guy is full of it.
NH: Your designs have been finalists for numerous United State coins. How do you feel when one of your designs is not chosen?
DC: I never expect to win, so it isn’t really much of a disappointment. Now that I have a fully-functioning mint, if the design is not chosen, I can use elements of the design for other coins or medals – and sometimes that is better than winning outright.
NH: You helped spark rumors of a new currency with your “Amero” coins. The coins ignited a lot of controversy and maybe even some concern. Before you conceived the “Amero” coin, did you ever think they would ignite so much controversy?
DC: No, the reaction was way beyond what I expected. I hadn’t anticipated that a certain radio talk show host would make such a big deal about the official Amero proposals and my coins. His statements were often false and inflammatory. The resulting unintentional publicity was good for coin sales, however. My intent with the coins was to make an interesting conversation piece that would get people to think about the potential future.
NH: Out of all of your designs, which would you say is your favorite?
DC: At the moment, three come to mind (in chronological order):
2006 Nikola Tesla Sesquicentennial medal;
2009 Prosperity Tree / Weed Money Hard Times Token;
2010 Feathered Liberty Head 20-Ameros.
But, in general, my favorite is often the next one I’m working on, whatever that might be.
NH: What are your thoughts on the current designs that are being used on the coins for the Presidential Dollar series?
DC: There is only so much you can do with facial portraits of older men, placed in a small rigid space. I’m not a fan of making multiple designs that all have to conform to the same identical format. To me it seems that most modern coin designs suffer from too much simplicity and lack of style. Official design review groups such as the CFA and CCAC often call for “simpler” designs, which I think is wrong. Inevitably, all the style seems to get stripped out of potential designs by the review process. I do, however, greatly prefer dollar coins over dollar bills, and I sometimes spend 20 or 30 one-dollar coins at a time.
NH: What has been your proudest moment of your career?
DC: I don’t know, but I hope it is yet to come.
Monday, January 10, 2011
So You Want to Attend a Coin Show?
Many collectors feel the continuous urge to constantly look at coins. I’ve experienced it myself; from looking at the couple of cents that I receive in change to secretively eye the Coin Star machine at the grocery store. These activities give me my much needed coin fix for a couple of hours, but I usually desire more. Basically every state has a place where coin addicts could go to get their fix and those places are coin shows.
Coins shows offer collectors the opportunity to view thousands of coins in the company of fellow collectors and get their much needed coin fix. Though coin shows are most often a place of serenity for most, novice collectors may often find themselves leaving frustrated. Here are some tips to surviving coin shows!
Be Patient: Coin shows are often held in venues that do not normally hold a vast amount of people. Because of this, crowded aisles and cramped spaces can be common. If you find yourself trying to view a dealer’s items, but find the table crowded with other potential customers, you can examine items at the next table over while you wait.
Be Friendly: When you ask to see a specific coin from a dealer’s case, it is always a good idea to friendly and cordial. Some eye contact, kind words, and a hand shake go a long way when making a first impression. They’re not old-fashioned gestures. They’re polite, commonsense actions that anyone appreciates.
Make Friends: Just like in the “real world,” making connections is always a good thing. By making connections with dealers, they will most likely remember you and the next time you are thinking about buying that high-priced coin, they may even help you out.
Moving On: There will always be that one dealer who isn’t pleasant to work with; they may be unfriendly or rash, or maybe they’re just having a bad day. Whatever the case may be, there is no reason to get angry over it. Just move on to the next dealer and forget about it.
Coins shows offer collectors the opportunity to view thousands of coins in the company of fellow collectors and get their much needed coin fix. Though coin shows are most often a place of serenity for most, novice collectors may often find themselves leaving frustrated. Here are some tips to surviving coin shows!
Be Patient: Coin shows are often held in venues that do not normally hold a vast amount of people. Because of this, crowded aisles and cramped spaces can be common. If you find yourself trying to view a dealer’s items, but find the table crowded with other potential customers, you can examine items at the next table over while you wait.
Be Friendly: When you ask to see a specific coin from a dealer’s case, it is always a good idea to friendly and cordial. Some eye contact, kind words, and a hand shake go a long way when making a first impression. They’re not old-fashioned gestures. They’re polite, commonsense actions that anyone appreciates.
Make Friends: Just like in the “real world,” making connections is always a good thing. By making connections with dealers, they will most likely remember you and the next time you are thinking about buying that high-priced coin, they may even help you out.
Moving On: There will always be that one dealer who isn’t pleasant to work with; they may be unfriendly or rash, or maybe they’re just having a bad day. Whatever the case may be, there is no reason to get angry over it. Just move on to the next dealer and forget about it.
Thursday, January 6, 2011
Error Coins: The Fun is in the Hunt!
The goal of many numismatists is to find the very best coin. Their goal is to find the best luster, condition and overall appearance. But there is a special breed of collectors who focus on the total opposite. Error coin collectors search for the most unusual coins that are produced from the mint. One of the biggest reasons that error coins appeal to people is the wide array of forms they take on. Error coins have been around as long as the mint has been producing coins. The first US coins were made using a Screw Press. The Screw Press was invented around the 1600's. The Press usually required 10 to 12 men turning two huge arms. This was the way coins were made up until the early 1800's. At this time, the Industrial Revolution was sweeping the world. The first US coins were produced from the Steam Press in 1836. Due to the technology of the day, errors such as off-center strikes, die doubling, and over dates were common and nowadays command a very high premium.
The United States Mint produces billions of coins a year and the odds of producing perfect coins is impossible. As technology has gotten more advanced, the Mint has been able to control many "would be" errors with various quality checks and sorting stages. Error coins can come in many different shapes and sizes. The smallest kinds of errors happen on the die itself. These errors range from Die Cracks, Cuds and Die Doubling. These often minimal errors have the best chance of being found by you in your change. The biggest types of errors are off-center struck coins, capped die coins and coins with a Brockage error. Coins with major errors very rarely pass the Mints quality control tests and are very hard to come by.
All coins are struck by Dies, which are extremely hard pieces of steel, which have an incused (backwards) image of the coin embedded on it. Dies are struck two times to insure a strong strike to the coins. In the case of a Double Die, during the process of making the die, the second strike to the die is not aligned with the first. This results in slightly double feature letters and numbers on the coin. Often only the lettering and date will be doubled. In 1955, around 40,000 Lincoln Wheat cents were struck with a highly doubled die. The result was a Lincoln Wheat cent with date and motto highly doubled. Before any Mint official spotted the error, about 25,000 double die cents were already mixed with other "no error" cents. Instead of destroying all of the cents the mixed batch of Lincoln Wheat cents were released. The Mint assumed that the error would not be noticed. On the famous 1955 Double Die Lincoln cent, the motto "In God We Trust", "LIBERTY", and the date are all double struck. The 1955 Double Die Lincoln cents were first discovered in New York. As news of the error spread, the value of the coin increased. Today, the 1955 Double Die Lincoln cent is the most famous error in the numismatic world. It's so popular that there was even a movie made based around the error! An example of the 1955 Double Die Lincoln cent is shown. Notice the extremely doubled date, and mottos.
Undoubtedly, the most popular and common error is off-center struck coin. This happens when a blank lands in the collar improperly. When this occurs only part of the blank is between the upper and lower dies. When the dies strike the blank only part of the blank is struck with a design. Off-center struck coins are most commonly found on one cent coins. An off-center struck coin with a date is far more valuable than one without. The bigger the off-center strike is, the rarer it is. The Susan B. Anthony shown is an example of an off-center struck coin.
Another very popular type of error coin is a wrong planchet error. These error coins are very dramatic and hard to come by. But they are very cool. Wrong planchet errors occur when a blank from one denomination is accidentally fed into a press for another denomination. These are errors that are usually caused by human error. For example, a Mint worker may feed cent planchets into a machine that is supposed to be producing nickels. What comes out will be a cent planchet with the design of a nickel. The wrong planchet coin will be the equivalent size and weight to the cent. The 1934 Buffalo nickel shown is an example of a wrong planchet error. It was struck on a planchet intended for a cent. As you can see, some of the devices are cut off due to the smaller planchet.
Agreeably, the rarest kind of coin error to date is known as a Double Denomination Mule. The term Mule means "the coin that results from the inappropriate combination of two different dies". The most famous Mule error coin to have come from the United States Mint is the Sacagawea/Washington State quarter mule. In 2000, the United States Mint confirmed this coin to be a true error. Supposedly, a US Mint official replaced a cracked obverse Sacagawea coin die, with a Washington State Quarter die. This resulted in a Sacagawea golden dollar, with the obverse of the Washington State Quarter and the reverse of a normal Sacagawea dollar. To date there are 15 known and the highest grade one (PCGS MS-65) was found in a roll!
The Washington State quarter/Sacagawea Dollar mule shown is one of the finest known.
The world of error collecting will continue to grow as long as the Mint is producing coins. Collecting error coins is a modern day treasure hunt! Error coins can be found in circulation, from the bank or straight from the Mint! Always check your change. Many Cuds and Die Cracks are found this way! There are so many different error coins that have been made by the Mint, many more than have been described here. Remember error coins are like snowflakes, no two are the same.
The United States Mint produces billions of coins a year and the odds of producing perfect coins is impossible. As technology has gotten more advanced, the Mint has been able to control many "would be" errors with various quality checks and sorting stages. Error coins can come in many different shapes and sizes. The smallest kinds of errors happen on the die itself. These errors range from Die Cracks, Cuds and Die Doubling. These often minimal errors have the best chance of being found by you in your change. The biggest types of errors are off-center struck coins, capped die coins and coins with a Brockage error. Coins with major errors very rarely pass the Mints quality control tests and are very hard to come by.
All coins are struck by Dies, which are extremely hard pieces of steel, which have an incused (backwards) image of the coin embedded on it. Dies are struck two times to insure a strong strike to the coins. In the case of a Double Die, during the process of making the die, the second strike to the die is not aligned with the first. This results in slightly double feature letters and numbers on the coin. Often only the lettering and date will be doubled. In 1955, around 40,000 Lincoln Wheat cents were struck with a highly doubled die. The result was a Lincoln Wheat cent with date and motto highly doubled. Before any Mint official spotted the error, about 25,000 double die cents were already mixed with other "no error" cents. Instead of destroying all of the cents the mixed batch of Lincoln Wheat cents were released. The Mint assumed that the error would not be noticed. On the famous 1955 Double Die Lincoln cent, the motto "In God We Trust", "LIBERTY", and the date are all double struck. The 1955 Double Die Lincoln cents were first discovered in New York. As news of the error spread, the value of the coin increased. Today, the 1955 Double Die Lincoln cent is the most famous error in the numismatic world. It's so popular that there was even a movie made based around the error! An example of the 1955 Double Die Lincoln cent is shown. Notice the extremely doubled date, and mottos.
Undoubtedly, the most popular and common error is off-center struck coin. This happens when a blank lands in the collar improperly. When this occurs only part of the blank is between the upper and lower dies. When the dies strike the blank only part of the blank is struck with a design. Off-center struck coins are most commonly found on one cent coins. An off-center struck coin with a date is far more valuable than one without. The bigger the off-center strike is, the rarer it is. The Susan B. Anthony shown is an example of an off-center struck coin.
Another very popular type of error coin is a wrong planchet error. These error coins are very dramatic and hard to come by. But they are very cool. Wrong planchet errors occur when a blank from one denomination is accidentally fed into a press for another denomination. These are errors that are usually caused by human error. For example, a Mint worker may feed cent planchets into a machine that is supposed to be producing nickels. What comes out will be a cent planchet with the design of a nickel. The wrong planchet coin will be the equivalent size and weight to the cent. The 1934 Buffalo nickel shown is an example of a wrong planchet error. It was struck on a planchet intended for a cent. As you can see, some of the devices are cut off due to the smaller planchet.
Agreeably, the rarest kind of coin error to date is known as a Double Denomination Mule. The term Mule means "the coin that results from the inappropriate combination of two different dies". The most famous Mule error coin to have come from the United States Mint is the Sacagawea/Washington State quarter mule. In 2000, the United States Mint confirmed this coin to be a true error. Supposedly, a US Mint official replaced a cracked obverse Sacagawea coin die, with a Washington State Quarter die. This resulted in a Sacagawea golden dollar, with the obverse of the Washington State Quarter and the reverse of a normal Sacagawea dollar. To date there are 15 known and the highest grade one (PCGS MS-65) was found in a roll!
The Washington State quarter/Sacagawea Dollar mule shown is one of the finest known.
The world of error collecting will continue to grow as long as the Mint is producing coins. Collecting error coins is a modern day treasure hunt! Error coins can be found in circulation, from the bank or straight from the Mint! Always check your change. Many Cuds and Die Cracks are found this way! There are so many different error coins that have been made by the Mint, many more than have been described here. Remember error coins are like snowflakes, no two are the same.
Sunday, January 2, 2011
1793 "Liberty Cap" Cent Sells for Record $340 in 1910
As we enter 2011, a coin being worth millions of dollars is not too much of an anomaly. This was the case in 1910 though, as even pennies possessed buying power.
Peter Mougey, a grocer by trade and an avid numismatist at heart, passed away at the age of 62. Prior to his death, Mougey took a trip from New York City to Philadelphia to purchase a coin, which at the time, was the best specimen of the variety. The coin was a 1793 “Liberty Cap” and was described as being “clear red” and “perfectly centered.”
During an auction of Mr. Mougey’s collection, numismatist, Henry Chapman, purchased the cent for $340. According to dealers at the time, this was the most ever paid for a cent. $275 was the previous record paid for a cent.
Ever since he was a boy, Mougey was an avid coin collector. He became specialized in American coins and he spent his free time behind the grocery counter searching for rare and unusual coins. At the time of his death, Mr. Mougey was said to have the most finely preserved collection of its kind.
Mr. Mougey’s collection was auctioned off to benefit his two sons and composed of three hundred and twenty-five cents and half cents. The face value of the collection was only $3.25 yet brought more than $4,000.
Other pieces from the auction included an 1800 one-cent piece with a “9” over “1” variety, which sold for $86. And an 1807 and 1808 cent brought $76 and $61 respectively
NY Times: September 2, 1910
Peter Mougey, a grocer by trade and an avid numismatist at heart, passed away at the age of 62. Prior to his death, Mougey took a trip from New York City to Philadelphia to purchase a coin, which at the time, was the best specimen of the variety. The coin was a 1793 “Liberty Cap” and was described as being “clear red” and “perfectly centered.”
During an auction of Mr. Mougey’s collection, numismatist, Henry Chapman, purchased the cent for $340. According to dealers at the time, this was the most ever paid for a cent. $275 was the previous record paid for a cent.
Ever since he was a boy, Mougey was an avid coin collector. He became specialized in American coins and he spent his free time behind the grocery counter searching for rare and unusual coins. At the time of his death, Mr. Mougey was said to have the most finely preserved collection of its kind.
Mr. Mougey’s collection was auctioned off to benefit his two sons and composed of three hundred and twenty-five cents and half cents. The face value of the collection was only $3.25 yet brought more than $4,000.
Other pieces from the auction included an 1800 one-cent piece with a “9” over “1” variety, which sold for $86. And an 1807 and 1808 cent brought $76 and $61 respectively
NY Times: September 2, 1910
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