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The man in Qianwanhu village discovered the cellar with some 10,000 coins, ranging from 3 cm to 1 cm in diameter, on Aug. 23 when he was digging a channel to place pipes for tap water, said Li Lin, an official of the Changzi Center of Cultural Heritage and Tourism.
The “money cellar” was 1.5 meters under the earth, with coins being piled orderly into a cuboid of 1.3 meters long, 0.65 meter wide and one meter high, Li said.
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Bob Green of Park Avenue Numismatics agrees: “It is clear that the rare side of the market continues to have support while the more common date material, dates easily obtainable in quantity, are slipping back to levels seen 12-18 months ago.”
Like any other collectibles market, the perfect time for buying and selling comes down to timing. The second half of 2006 generally saw prices fall, and this was a good time to buy. Almost every coin category saw a large jump in median price paid in 2007, and anyone selling after 2006 purchases would have made an excellent return.
But as Bob Green notes, “It may also have a lot to do with simple supply and demand dynamics.” GPA data shows that a much larger than average volume of coins was traded between July 2006 and Dec 2006, and this influenced prices at auction. It would appear the market can only bare so much volume before prices (even for the stronger-showing gold coins) begin to fall.
Bob Green continues: “Low population, rare date gold coins are constantly sought after by a growing number of collectors looking to complete series, and with so few available the markets should continue to climb to higher levels in this segment.”
The U.S. rare coin market - consisting of an estimated 250,000 U.S. coins collectors/investors and a further 2 million “average” collectors - has an estimated trade of $10 billion per annum, providing lucrative opportunities for those well-informed.
With over 800,000 transactions, representing U.S. $1.3 billion, GPA is the world’s largest repository of information available on publicly-traded certified coins, spanning over a decade. GPA provides an unprecedented level of information to collectors/investors on the prices realized for certified rare coins.
GPA is not a traditional price “guide,” but a price reporting service, listing only actual prices realized in publicly accessible auctions. As Susan Headly writes in About.com: “?the prices in coin price catalogs are determined by coin dealers ? the dealers who contribute to these coin price catalogs have a built-in incentive to nudge the prices as high as they can. Therefore, the short answer to the question, ‘Are the coin prices in most coin catalogs accurate?’ is a qualified ‘No.’”
What makes GPA for Coins really exciting and instantly different from anything else available in the market place is that the data is interactive. As George Pantela, founder of GPAnalysis explains: “Via a web browser, you can set parameters of the data set you wish to interrogate and then customize the output. This can be as simple as drilling down to see individual prices paid for a specific coin, to an overview of the market as a whole. Want to compare median prices paid this year to the previous? No problem; our online toolset allows you to do this in a cinch.” Additionally, subscribers of the service can permanently annotate individual coin sales, compare relevant coins to silver and gold price trends, and manage and automatically value their coin collection.
Jim Halperin, co-chairman of the world’s largest collectibles auctioneer Heritage Auction Galleries, believes services like GPA for Coins are essential to the collecting community. “GPA adds a level of confidence for buyers and sellers, helping them make informed decisions when trading in an increasingly complex and expanding rare coin market,” Halperin says.
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Metal detector enthusiast Roy Lewis uncovered the 500 coins dating back to the 1640s at Tregwynt Mansion near Fishguard, Pembrokeshire, in 1996.
They are going on display for the first time in the county as a centrepiece of an exhibition at Scolton Manor Museum.
http://news.bbc.co.uk/2/hi/uk_news/wales/s…est/6949422.stm
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The anniversary issue of Numismatic News will highlight the 55 hottest coins for 2008, the 55 must-visit shops, shows or hobby venues, and 55 years of memories. News editors are looking for coin collectors? and dealers? input!
Top submissions will be featured in the anniversary issue and eligible for prizes in each category. The top response in each category will receive a Liberty Head $20 gold piece. The next nine best entries in each category will receive a 2007 silver American Eagle. Submission deadline is Tuesday, Sept. 4.
Categories include:
55 Hottest Coins for 2008
What do you think will be the hottest coin in 2008? Send in images of the coin along with a 100-word statement that explains the coin and why you think it will be 2008’s hottest.
55 Must-visit Shops, Shows or Hobby Venues
Where is the place to be for collectors? Send a photo of the shop, show or venue, along with the full name and address and contact information. Who is the proprietor, chairman or top officer? How long has the place been in business? What does it sell? Write a 20-50 word statement explaining what makes it unique.
55 Years of Memories/Photo Gallery
What is your most cherished hobby-related memory? Send in old photos and a story. It could be “the day I met?,” or “the day I bought?,” or “my most memorable numismatic moment.”
Please e-mail all submissions to maggie.pahl@fwpubs.com by Sept. 4. Include photos if possible.
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The ANA board acted Aug. 13 to remove co-plaintiff Cipoletti from day-to-day management responsibilities of the ANA with instructions to focus on the pending litigation. He has been replaced on an acting basis by former ANA President Kenneth Hallenbeck.
Although Cipoletti was listed “of counsel” to a Colorado Springs firm as late as August 2007 while he was still the ANA’s full-time executive director, on behalf of the ANA and himself as co-plaintiff he hired Denver lawyers and sued former computer consultants to the ANA, as well as several former employees in El Paso County, Colo., district court, according to documents filed July 22, 2005.
http://www.numismaster.com/ta/numis/Articl…;ArticleId=2736
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Who is going to win the raffle for a framed photograph of the Carson City Mint along with an 1875 cc trade dollar?
How old was James Crawford, overseer of the Carson City Mint, when he died?
http://www.nevadaappeal.com/article/200708…NMENT/108230092
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- This is an old story but it’s appearance today on the mainstream media ABC News is unusual
Dollar Coins Honoring Presidents Provide a History Lesson As Well As a Break From the Bill
Most folks can correctly name George Washington as the nation’s first president. After that, things get tricky.
The U.S. Mint is hoping its new dollar coin series will help refresh some hazy memories of Adams, Jefferson and all the rest.
That could be a tall order, however, given the results of a poll the Mint commissioned to find out just how much knowledge Americans have about their presidents.
According to the telephone poll, conducted by the Gallup Organization last month, nearly all those questioned knew that Washington was the first president. However, only 30 percent could name Thomas Jefferson as the nation’s third president, and memories of the other presidents and where they fit in was even more limited.
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By having a rotating design on the new dollar coins, the Mint is hoping to keep interest high and avoid the famous flops of two previous dollar coins the Susan B. Anthony, introduced in 1979, and the Sacagawea, introduced in 2000.
http://abcnews.go.com/Politics/wireStory?id=3481119
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This coin was minted at the historic Warsaw Mint and constitutes the latest entry in the mint’s Great Painters of the World ongoing series.
The rectangular coin reproduces three masterpieces by Van Gogh (two in full color): Starry Night, one of the Sunflowers series, and a self-portrait. In addition to its rectangular shape, the coin also features colorization on both sides, and three different-colored zircon crystals embedded in it.
http://www.numismaster.com/ta/numis/Articl…;ArticleId=2682
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