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 Tuesday, February 12, 2008
Hail the mail
Posted by Dave
A nice letter arrived in yesterday’s mail from a reader who noted that he was one of the few people left who still does not have a computer. He wanted to report on his experience with the Bald Eagle commemorative program. If you will remember, when the program began, the online ordering capability of the Mint ceased for about nine days, Jan. 15-Jan. 24. This situation jammed the Mint phone lines and caused some frustration among would-be buyers. The letter writer said he had received an order form from the Mint on Jan. 14. He sent in his order the same day. Ten days later he received the coin he ordered. As he put it, “I received my coin, that to say the least, is very well struck and beautiful. Perhaps there is a lesson in this for the Mint and the rest of us. Retirement planners say it is a three-legged stool consisting of Social Security, private pensions and private savings. Perhaps coin marketing is still a three-legged stool, online, telephone and mail. The last of the three has had many brickbats thrown at it in recent years. Without seeing the Mint’s own sales statistics broken down by order type I cannot say whether mail orders are profitable. However, where one person writes me, there are many others, so I think mail order still has some life left in it where new Mint issues are concerned.
2/12/2008 8:56:26 AM (Eastern Standard Time, UTC-05:00)
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 Monday, February 11, 2008
Is that really me on camera?
Posted by Dave
For someone like me who grew up in television’s early days in the 1950s and 1960s, video is still a source of wonder. I saw the world through the news titans of the 1960s, Chet Huntley and David Brinkley, Walter Cronkite and Howard K. Smith. Imagine my thoughts now that I can create my own news videos. It is certainly not something I ever envisioned myself doing. Hey, I went to work for a newspaper, you understand. However, my recent trip to Berlin for the World Money Fair gave me the opportunity to do some interviews and to record them. The first of these was done with Dr. Andreas Schikora, director of the Berlin State Mint, on Jan. 31. It is now online at www.worldcoinnews.net. Take a look at it. See what you think. Give me some feedback. World Coin News is a sister publication to Numismatic News. It is one that I have spent two of the past three decades working on. Where this video capability will take me, I cannot say, but I look forward to doing more of it.
2/11/2008 9:00:36 AM (Eastern Standard Time, UTC-05:00)
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 Friday, February 08, 2008
Storms stop Mint deliveries
Posted by Dave
The tornadoes in the South have affected the Mint's ability to ship product. A statement was sent to me to explain. It follows below: Severe Storm Impact On United States Mint Order Fulfillment February 8, 2009 The severe weather that struck five Southern states on Monday, February 5, caused severe damage to the United States Mint’s contractor-operated fulfillment center in Memphis, Tenn. Although the roof of the facility sustained damage from debris, luckily no one working in the building was injured. The fulfillment center, as well as surrounding buildings, is still without power. Clean-up operations inside and outside of the facility are ongoing. The United States Mint’s assets are secure and are being protected 24/7. Because of the tornado damage, we expect that the United States Mint will be unable to ship products from its fulfillment facility in Memphis for the next one to two weeks. We believe we are fortunate that this disaster will mean only a short period of inconvenience to our numismatic customers, and we extend our deepest sorrow and support to those whose lives or loved ones have been more seriously affected by this catastrophe. The Call Center in Plano, Texas, was not affected by the severe weather and continues to operate. We will continue to take orders through all channels while shipping is suspended.
2/8/2008 12:48:20 PM (Eastern Standard Time, UTC-05:00)
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Mint issues Web site alert
Posted by Dave
I just received notice from the Mint that tomorrow morning at 4 a.m. Eastern, its online catalog will be offline for approximately four hours. It should be back up again by 8 a.m. At 8 a.m., the telephone call center will begin its day. The number is (800) USA-MINT.
2/8/2008 9:40:19 AM (Eastern Standard Time, UTC-05:00)
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Eagle mintages scoured for scarcity
Posted by Dave
Yesterday I received mintage figures for 2007-dated American Eagle bullion coins. Hobbyists will pore over them to determine whether any of the coins is truly scarce. Scarce is a relative term. Everybody agrees that the five 1913 Liberty Head nickels make it a scarce issue that we would call rare. The 15 1804 dollars make them headline rarities when they appear at public auctions. As you increase mintage numbers, it becomes increasingly important to consider how many collectors want them in an evaluation of scarcity. So what is scarce for coins sold by the Mint to its distribution network as a convenient way of acquiring precious metals? Let’s look at the numbers. The largest total is for the one-ounce silver Eagle. There were 9,028,036 struck. The numbers are lower for gold. The gold American Eagle one-ounce coin at 140,016 barely exceeded the 136,503 total for the Buffalo one-ounce coin. The half-ounce gold Eagle came in at 47,002, the quarter ounce at 34,004 and the tenth ounce at 190,010. Platinum numbers were the lowest. The one-ounce Eagle is 7,202, the half ounce is 7,001, the quarter ounce is 8,402 and the tenth ounce is 13,003. Do any of these qualify as scarce? Probably not. Will you find 7,001 people to pay over $900 for a half-ounce platinum? Perhaps. If that total were for a silver Eagle, it would be a no-brainer to put such a coin in the scarce column. What do you think of the numbers?
2/8/2008 9:00:12 AM (Eastern Standard Time, UTC-05:00)
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 Thursday, February 07, 2008
What's in your hand is important
Posted by Dave
Circulation finds have been a popular topic for the 45 years I have been a collector. In my early years, they formed the core of my collection. The introduction of clad coinage in late 1965 was the beginning of the end of this pastime as the backbone of the hobby and by 1969 about all you could find in change were coins from the prior 10 years. In the case of the formerly silver coins, the variety was even less. However, the urge to look at my change has never left me. I still do it. Actual finds are few and far between. However I note the introduction patterns of new coins. I keenly wait for my first look at a 2008-dated coin. Readers began reporting finds of 2008 cents and nickels in late January. People worrying about the state of the economy can have one more thing to worry about. In a boom, the new dates come out practically as the nation puts away its New Year’s party hats. In slow times, the coins come out later. This year’s release seems to be coming somewhere between the two extremes, but somewhat closer to the bust side of the continuum than the boom side. While in Germany I noticed the pull of circulation finds. There was a long line at the booth that offered to sell for face value the 2-euro circulating commemorative for Hamburg. To get an example of the coin from each of the five mints, the public was asked to pay 10 euros, or face value. I probably should have joined the line, but I did not. It is nice to witness the appeal that basic circulation coinage still has on people. It is too easy to get wound up about chopmarked Buffalo gold pieces or 2007-W American Eagles. I am not saying these precious metal coins are bad issues. They are not. But to better appreciate the special coins, maintaining roots to circulation coinage is important. Some of the 2-euros given out might have been MS-70, but I expect that there wasn’t a single person in that line who was thinking about American grading precision. It was just the collector impulse to get the coins that form a complete set at a great price. There is no more important collector impulse than that.
2/7/2008 9:00:42 AM (Eastern Standard Time, UTC-05:00)
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 Wednesday, February 06, 2008
Mints want to know your thoughts
Posted by Dave
The Dow Jones Industrial Average fell 370 points yesterday and 108 the day before. While I was in Europe, the markets rallied. As soon as I set foot on American soil again, the markets went into a deep funk. If they keep that up, they will hurt my feelings. Even gold, which has been rallying counter to the trend for stocks fell under $900 per troy ounce. Despite what the victorious candidates in yesterday’s many primaries are saying, the future is a big question mark for many people, not the least of which are coin collectors and mints. The coin collecting hobby has a distinguished past. It has a bright future. It is not like hoola hoops, a popular fad that captures the country and then blows away like autumn leaves. It is permanent. It is strong. But that doesn’t mean there aren’t market fluctuations and changing business conditions. Many of the world’s mints are now intensely competitive. They are looking for the next big thing. I think it is fair to say that none of them thinks they have yet found it. Coin collectors in the United States, many of whom, if not most, are baby boomers, keep one eye on their coin purchases while the other eye is on their other assets and their jobs. Their spending depends on the jiggles and fluctuations of the economy. They may be watching their pennies. I had a phone call yesterday from someone who was complaining about the $13 postage and insurance charges he had to incur to return something he had purchased. He didn’t like not being indemnified for the return. In free and easy times, I get fewer of those calls. In uncertain times, I get more. It is good to be home after the trip in Berlin. It is good to be back in daily touch with my readers. The world’s mints care about what collectors think and how they feel. Send me an e-mail at david.harper@fwpubs.com. Let me know how you feel and I will publish them in Numismatic News. Together we can let the world’s mints know what collectors are thinking.
2/6/2008 9:03:31 AM (Eastern Standard Time, UTC-05:00)
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 Tuesday, February 05, 2008
Stranded but satisfied
Posted by dave
The pizza is about to arrive. It is 6:05 p.m. on Monday. I am stranded in Chicago with three colleagues who had also attended the World Money Fair in Berlin. We are at a Hampton Inn in Schiller Park. Our flight out tomorrow will mean I am in motion at the usual posting time for my blog. I am hungry and sleepy but very satisfied with the experience in Berlin. It is shocking to see prices in euros. Just about everything is expensive from an American point of view, but as one person I spoke to said: "You should see Paris." I made no reply at the time, but if that is the case, I will have to say something like, "Maybe next year." Berlin prices were enough for my delicate fiscal sensibilities. That and I don't need to see any sausages again for a while. I hope to get a good night's sleep, get home and perhaps get a half a day put in at the office Tuesday. Fortunately, the Krause team has been posting material right along as it happened. I hope you have taken advantage of the on-the-spot reporting to find out what happened in the mint master capital of the world. We also shot video while we were there and are looking forward to expanding our online reporting capabilities. If it comes to my personal comfort and convenience, 2008 has had a disappointing start. If it is your comfort and convenience that matters as far as being kept informed of important news events, then 2008 has started well. The Krause NumisMaster online reporting team has done it just for you. Well, there's the pizza. Gotta go.
2/5/2008 9:06:04 AM (Eastern Standard Time, UTC-05:00)
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 Monday, February 04, 2008
COTY awards ceremony a success
Posted by dave
The decision to give the World Coin News Coin of the Year Award at the World Money Fair in Berlin Feb. 2 was a good one. All of the recipient mints and central banks were present at the top level. The speeches were gracious. The atmosphere was warm and friendly. I hope you will take the opportunity to view the images of the event on NumisMaster.com. A surprise guest was U.S. Mint director Ed Moy. He was able to come. It was a pleasure to see him there since the United States was a big winner of three category awards. The Most Popular and Best Trade categories were won by the Nevada state quarter. The Most Historically Significant coin was the Benjamin Franklin commemorative showing him as the mature statesman. The ceremony was punctual. That is an important consideration for this show. Staff of the world’s mints are very tightly scheduled. Albert Beck, founder of the show, said 30 meeting rooms were in continuous use throughout the show. We began serving finger food and liquid refreshments at 3 p.m. Dr. Beck introduced me to the audience at 3:15 p.m. As I noted in my opening remarks, events are well started when Dr. Back begins them. From that point on, the program was in my hands. It clicked along, concluding at 4 p.m., to allow those on a tight schedule to leave for their next appointments. Others of us were able to stay and visit with each other. The top winners were Canada and Hungary. Canada won the top Coin of the Year Award for a set of four $50 palladium coins showing the Big Bear and Little Bear constellations in seasonal positions in the night sky at 10 p.m. in Ottawa, as Ian Bennett, the president of the Royal Canadian Mint explained. Hungary won the People’s Choice Award for a 50 forints made of base metal that commemorates the 50th anniversary of the Hungarian Revolution of 1956. There was a Hollywood premiere aspect to the event with the photographers present. Latvia brought a video cameraman to record the whole ceremony. Latvia took home the trophy for the Best Contemporary Event coin for its l lats coin marking its fight for freedom in 1918. There is not enough time or space to list all of the winners here, so visit the Web site presentation at www.Numismaster.com. Congratulations to all the winners. I am catching a morning plane today with my three colleagues. It has been good to be in Berlin, but I am looking forward to going home.
2/4/2008 8:59:28 AM (Eastern Standard Time, UTC-05:00)
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 Friday, February 01, 2008
Berlin's fair like no other
Posted by dave
 There is no recession at the Hotel Estrel in Berlin, site of the World Money Fair. In fact, there is a big dollar sign on my back, on your back and on the back of any other person in the world who might be persuaded to buy coins this year. The World Money Fair is like no show you have ever seen. In the center of things are world mint booths. Traditional dealer bourse tables are on the periphery. There are also booths by manufacturers of coining presses, firms that manufacture packaging and banks. In Europe, banks are players in a way that Americans are not used to. One of the tallest booths on the floor is the Russian Sperbank. It claims to have 20,000 offices throughout Russia and in neighboring countries. The Austrian Mint has two booths. One is set to introduce a new one-ounce silver bullion coin this morning. It has the same design as the gold Philharmonic bullion coin series. There are high expectations for its success. How could it be otherwise with the current excitement over precious metals by the world’s investors? Ian Bennett of the Royal Canadian Mint said demand for its Maple Leaf one-ounce silver coins has gone from 150,000 a month to 600,000 a month. It is working hard to meet demand. The second Austrian Mint booth located elsewhere on the floor is the B2B division. That is not something you run into at regular coin shows in the States. This is not for the small fry like you and me but for the big players. You want to buy coin blanks? Now you know where to go. Then there is the surging tide of men and women in formal business attire. They break into small groups at the individual booths and flow along the aisles. Their purpose is to sell the products to each other that are intended to harvest your dollars and my dollars. Judging by all the evidence here, they are succeeding.
2/1/2008 8:58:20 AM (Eastern Standard Time, UTC-05:00)
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 Thursday, January 31, 2008
Coffee, eggs and retirement
Posted by dave
 My body clock tells me it is 1 a.m., but the sunshine and the smell of breakfast coffee and scrambled eggs tells me it is morning in Berlin. I’ve already knocked a fork on the floor as Standard Catalog of World Coins market analyst Tom Michael and I trade the laptop for plates of food. Murray Church (right) announces his retirement. He credits Dietmar
Spranz (left), president of the Austrian Mint, for his help in making
the success of his business.
We are surrounded by many officials from the world’s mints in the Hotel Estrel’s breakfast area. Some will head to business meetings. Some will head for a quick tour of the city. We will head for the Berlin Mint. It is set-up day at the World Money Fair. Last night’s reception at the Canadian Embassy yielded many interesting tidbits of conversation. Murray Church dropped the bombshell that he is in the process of retiring. His Euro Collections International is to be sold to Australia’s Downies Coins. I wished Murray luck, but I couldn’t hide my surprise and disappointment. I have worked with Murray for many years. I particularly remember his PR efforts in 1992 when he was publicizing the monthly unveilings of new 25-cent designs for the Canada 125 program, which was the forerunner of the United States 50-states program. Each province and territory was honored by Canada. Downies will do a good job with the business. I look forward to working with them. I kept asking Murray why now? He had various reasons, but then he joked that his younger sister would telephone him to ask, “What? You’re not retired yet? That struck home. I can imagine my younger brother pulling the same thing with me. Suddenly it was perfectly clear.
1/31/2008 10:45:59 AM (Eastern Standard Time, UTC-05:00)
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 Wednesday, January 30, 2008
If it's Wednesday, this must be Germany
Posted by dave
If it’s Wednesday, I must be in Germany. It was touch and go yesterday as we awaited the arrival of a weather front that brought snow and very cold temperatures. Would the plane take off from Appleton? Would the plane take off from Chicago? Would we miss the connection in Frankfurt for Berlin? Winter travel is less about any discomfort in movement and simply mentally wondering if there would be any movement at all. It seems I just went through this with the FUN show and merely suffered a three-hour delay on the return home. But the wondering affected both directions. Staying awake is also an order of business today. There is a reception tonight at the Canadian Embassy. It would not due to succumb to jet lag and miss it. It is an honor to share the night with world mint directors and others actively involved in creating the world’s coinage. My profound thanks go to the Royal Canadian Mint.
1/30/2008 8:56:20 AM (Eastern Standard Time, UTC-05:00)
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