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!

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%!


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!







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.

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.

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.

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.

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