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Steel cent proposal wins in House vote - NumisMaster

Action to preserve the cent as a coin denomination, albeit made of copper-colored steel, to strike a nickel-coated steel five-cent piece and to assure congressional authority in exercising its constitutional responsibilities in deciding how to coin money and regulate the value of it was decisive May 8. That’s when the U.s. House of Representatives unanimously approved the “Coin Modernization and Taxpayer Savings Act of 2008,” H.R. 5512.

Partisan shenanigans the previous two days were forgotten, and both sides of the aisle spoke favorably of a measure that changed substantially since its February introduction as a different bill that was subject to criticism for Congress abdicating the responsibilities that the Founders gave it on coinage matters in Article I, section 8 of the Constitution.

Entire article: Steel Cent Proposal Wins in House Vote - NumisMaster

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2008 05 16 Coin Legislation
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Washington D.C. quarter designs - NumisMaster

Drawings of designs for the Washington, D.C., quarter as well as those for the five insular territories - Puerto Rico, Guam, American Samoa, U.S. Virgin Islands and the Commonwealth of Northern Marianas Islands have been sent to the U.S. Commission of Fine Arts in anticipation of its May 15 meeting and to the Citizens Coinage Advisory Committee for its May 20 meeting review.

Some of the coins contain inscriptions in three languages - English, Latin and the islands’ native languages - and each contains design elements that were suggested by government authorities and forwarded to the Mint. The accompanying illustrations were obtained early through a Freedom of Information Act inquiry.

Entire article: Quarter Designs Submitted for Review - NumisMaster

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2008 05 16 Coin Designs
Commemorative Coins
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Dealer brokers 1880 gold “Stella” coin sale - The Garden City News

Eastern Numismatics Inc., of Garden City, recently completed the sale of one of 17 known 1880 Four-Dollar Gold “Stella” coins. The coin was purchased by Eastern Numismatics for more than $500,000 on behalf of a client, a record price for a coin of this type.

“This was a tremendous opportunity and we are very pleased that we were able to acquire this coin on behalf of our client. This is a rare but very well known coin with a somewhat infamous history.

It is said that the original proofs where given to several members of Congress in Washington. A number of these coins found their way into the possession of ‘mistresses’ of prominent politicians. In some instances they were made into jewelry,” said Joseph Parrella, Vice President of Eastern Numismatics Inc.

Entire article: Local Dealer Brokers Sale Of Rare Coin - The Garden City News

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2008 05 16 Rare Coins Comments (0) Permalink

Brockton celebrates Coin Week - Numismatic News

A National Coin Week celebration for children was held April 19 at the Brockton West Branch Library of Brockton, Mass. About 28 people attended.

Head Librarian Karen Arnold was key to making the event happen, said organizer Richard J. Hand Jr.

Entire article: Brockton celebrates Coin Week - Numismatic News

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2008 05 15 Numismatic News Comments (0) Permalink

Don’t count on Presidential dollar for Atchison - Numismatic News

Charles Vanderwater reports in his letter (April 15) that he read that David Rice Atchison had served as President of the United States for one day due to a glitch in American law at the time. Based on this information, Vanderwater wondered if this one-day president is entitled to a dollar coin as part of the Presidential $1 Coin Program.

The claim that Atchison was president for a day is one that has drifted through American history for over 150 years.

Entire article: Don’t count on Pres dollar for Atchison - Numismatic News

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2008 05 15 Numismatic News
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Thoughts on the Nation’s first cents - NumisMaster

Large cents dated 1793 have attracted collectors for at least 150 years. They were the first coins struck by the new U.S. Mint in Philadelphia, a city with a population of about 40,000 at that time.

Nothing involving the first cents came easily. Finding a skilled engraver was a challenge. So was the acquisition of the copper needed to strike the coins. Many 1793 cents are found dark or corroded.

Coming up with the right design for the cent was also difficult. It was a hit-or-miss effort involving a lot of trial and error.

Entire article: Thoughts on the Nation’s First Cents - NumisMaster

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2008 05 15 Large Cents
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Krause biography benefits Iola - NumisMaster

The varied and storied life of Chester L. Krause of Iola, Wis., is documented in his new autobiography, I’m Chet, as told to author Arlyn G. Sieber. Krause is the founder of Numismatic News and Krause Publications.

The self-published book (208 pages, 8-1/2 by 11 inches) is available for purchase. Krause is donating all money from sales of the book to the Iola Historical Society.

Entire article: Krause Biography Benefits Iola - NumisMaster

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2008 05 15 Coin Books
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Japanese Hokkaido commemorative coin - CoinNews

Japan will issue a new colorized Hokkaido commemorative silver coin featuring Japanese red-crowned cranes, a symbol of Hokkaido, flying above Hokkaido’s Lake Toya.

Japan’s Finance Minister, Fukushiro Nukaga, made the announcement Tuesday in a press conference after a cabinet meeting. Mr. Nukaga said a 1,000-yen Hokkaido commemorative coin would be issued this July in time for the Group of Eight summit, which will be held in Hokkaido.

Entire article: Japan to Issue Hokkaido Commemorative Coin by G-8 Summit - CoinNews

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2008 05 15 CoinNews
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ICTA helps thwart proposal for CFTC regulation of coin dealers - CoinNews

ICTA recently helped defeat an 11th hour proposal that would have put precious metals dealers under the jurisdiction of the CFTC which may also have led to federal licensing and further regulation of the industry.

In late April, during Senate consideration of the 2008 farm bill (HR 2419), a section was added to reauthorize the Commodity Futures Trading Commission (CFTC) and amend the Commodity Exchange Act (CEA).

The House Agriculture Committee marked up similar legislation, so the two CFTC bills were both being considered by the joint Senate/House Conference Committee that would recommend the final bill.

Entire article: ICTA Helps Thwart Proposal for CFTC Regulation of Coin Dealers - CoinNews

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2008 05 15 Coin Dealers
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Hokkaido coin to mark Group of Eight summit (G8) - The Japan Times

A ¥1,000 coin bearing the design of Hokkaido’s Lake Toya, the site of this year’s Group of Eight summit, and Japanese red-crowned cranes, a symbol of Hokkaido, will be issued in time for the July 7-9 summit, the government said Tuesday.

The coin will be the first of 94 types — ¥500 and ¥1,000 coins for each of the 47 prefectures — to be minted over the next eight years to commemorate the 60th anniversary of the enforcement of the Local Autonomy Law, the Finance Ministry said.

Entire article: Hokkaido coin to mark G8 summit - The Japan Times

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2008 05 14 Commemorative Coins
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Japan commemorative coins creating collector boom - The Japan Times

Interest in large, oval Japanese coins and commemorative coins made of gold is deep-rooted among collectors, as exemplified by a recent bid of more than ¥30 million for a ¥2 gold coin issued in 1880.

The first commemorative coins issued in Japan were to mark the 1964 Tokyo Olympic Games — 80 million silver ¥100 coins and 15 million silver ¥1,000 coins, the Finance Ministry said.

“They triggered a coin boom in Japan. At the peak, a ¥1,000 silver coin sold for nearly ¥20,000,” said an official at Taisei Coins Corp., a major coin importer and seller in Tokyo.

Entire article: Antique, commemorative coins sparking collector boom - The Japan Times

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2008 05 14 Commemorative Coins
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Britian’s new coin designs - NumisMaster

Domestic tabloid newspapers slam them. The daughter of the designer of Britain’s soon-to-be former coinage has bad mouthed them. There are predictions tourists will be confused by them, but Great Britain is about to go forward with its new coin designs despite outcries from some circles against the upcoming changes.

The April 22 German newspaper Der Spiegel made a good point that the first modernization of Great Britain’s coin designs in about a half century “reaffirms the country’s determination not to adopt the euro single currency any time soon.”

Entire article: Make Way for Britain’s New Coin Designs - NumisMaster

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2008 05 14 British Coins
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John Quincy Adams $1 coin helps National Stroke Awareness month - CoinNews

The National Stroke Association has announced it will join the U.S. Mint in celebrating the launch of the new John Quincy Adams Presidential $1 coin on Thursday, May 15.

One of the great values in coin series with ongoing themes and multi-year designs, like the Presidential $1 coins, is the educational value they can provide.

The release of the John Quincy Adams coin this month honors his life, and just as importantly, is a learning opportunity. Like now. What many people may not know is that John Quincy Adams suffered a stroke on the floor of the House of Representatives in 1848. He died from that stroke two days later.

Entire article: National Stroke Association to Join U.S. Mint in Celebrating John Quincy Adams $1 Coins - CoinNews

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2008 05 14 CoinNews
Presidential Dollar Coins
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‘Prooflike’ coins vary in their degree of clear reflectivity - Coin World

In virtually any series of coins, collectors may run across a designation of “prooflike” surfaces, but the term is most often encountered in regard to Morgan silver dollars.

It gained currency in the 1950s and 1960s as the last of silver dollar releases from Treasury Department vaults took place. Seemingly vast quantities of decades-old coins suddenly were becoming available in “Uncirculated” condition.

It was apparent even among all these never-used coins that there were substantial differences in overall appealing qualities. Some were “bag-marked” (heavily affected by contact marks). Some were toned from contact with canvas. Some had dull surfaces and others – exceptional pieces – were, well, “prooflike.”

Entire article: Coin World: ‘Prooflike’ coins vary in their degree of clear reflectivity

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2008 05 13 Coin World
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House OKs Bill to Coin Cheaper Cents, but Leaves Melting Ban in Place - redOrbit

It may be a big victory for American taxpayers, but the passage of a bill seeking to reduce the cost of producing some coins is yet another setback for southern Ohio businessman Walter Luhrman and his dream of mining a mother lode of profit from piles of old pennies.

The House yesterday approved legislation mandating that the U.S. Mint switch to a lower-cost, copper-plated steel penny instead of the more expensive zinc-laden penny, and perhaps ultimately to use cheaper metals with which to produce nickels.

The Senate must still approve the legislation — and the Mint may seek changes in the Senate version — but such a change in coin composition could save about $1 billion over 10 years, according to Rep. Zack Space, one of the authors of the bill.

Entire article: House OKs Bill to Coin Cheaper Cents, but Leaves Melting Ban in Place

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2008 05 13 Coin Legislation Comments (0) Permalink

Watch out for counterfeit coins - Coin Collector’s Blog

One of the biggest problem with some online auction sites are the number of counterfeit coins being sold as genuine. Many of these coins look genuine. They may have been made of cast models of genuine coins with engraved enhancing to make them look better. Others are very badly made where designs have dates of coins that does not exist. Two coins commonly faked are Trade Dollars and Morgan Dollars.

Entire article: Watch Out for Counterfeits

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2008 05 13 Blogs
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Current and 2007 costs to mint U.S. coins - CoinNews

One of the pleasant side affects of the Coin Modernization and Taxpayer Savings Act of 2008, which would change the metallic composition of pennies and nickels to steel, is the revelation of current and past costs in minting coins.

Figures of coin production expenses are interesting in themselves, but charting their trends is another reminder of the volatility of metals within coins, like that of copper, zinc and nickel.

Entire article: Current and 2007 Costs to Mint Pennies and Nickels

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2008 05 13 CoinNews
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Commemoratives Honor Native Historical Figures - NumisMaster

Three world mints have announced the release of new collector coins honoring famous native historical figures. Whether you go back 100 years in history to celebrate the birth of composer Herbert von Karajan and author Mika Waltari, or 250 years in time since the birth of military hero Admiral Horatio Nelson, you’ll find the month of May brings great new modern commemoratives for your collection, with striking designs and notable stories.

Entire article: Modern Commemoratives Honor Native Historical Figures

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2008 05 13 Commemorative Coins
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Universal Coin & Bullion Attending Celebration of American Values Banquet - Universal Coin & Bullion

Beaumont, TX (PRWEB) May 13, 2008 — Universal Coin and Bullion is pleased to announce their attendance at this year’s Celebration of American Values Banquet being held Saturday, May 17 at 8 p.m. in the Kentucky International Convention Center. Annual Meetings and Exhibits to be held at the Kentucky Exposition Center and the Kentucky International Convention Center in Louisville, Kentucky from May 16-18, 2008.

As a company committed to American and family values, Mike Fuljenz, President of Universal Coin and Bullion supports both efforts locally and nationally.

Said Fuljenz; “We are thankful for our relationship with the NRA in their fight to maintain our 2nd Amendment rights. Our support of the Voice of Freedom Fund and attendance at this year’s Celebration of American Values Banquet represents our deep commitment as a company to take an active role in shaping our country and securing the freedoms afforded us by those who fight to keep us free.”

Entire article: Universal Coin & Bullion to Attend the Celebration of American Values Banquet at NRA’s Annual Meetings & Exhibits 2008 in Louisville, Kentucky

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2008 05 13 Coin Press Releases Comments (0) Permalink

Movement to get rid of the ‘nuisance’ penny makes no cents - The Daily Gazette

For myriad reasons, most of which I do not agree with, there seems to be a growing movement advocating abolition of the penny. The coin is often considered a worthless nuisance, one not even worth bending over to pick up.

But the need to abolish the penny is important national problem number 1,356, well behind the more urgent need to abolish the designated hitter.

Entire article: Movement to get rid of the ‘nuisance’ penny makes no cents

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2008 05 12 U.S. Coins Comments (0) Permalink

US Mint 2008 New Mexico First Day Coin Covers - CoinNews

The United States Mint 2008 New Mexico Official First Day Covers went on sale Thursday, May 8. The coin cover is 47th in the series released.

The limited edition covers include two New Mexico state quarters that were minted on the first day of production.

Each quarter has the state’s “Zia sun symbol” design with one manufactured from the Mint’s facility in Denver while the other from Philadelphia.

Entire article: New Mexico First Day Coin Covers on Sale

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2008 05 12 CoinNews
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US paper money and coins less artistic - The Arizona Republic

And no, not just that the American peso has dropped historically against the euro, making trips to France and Italy half-again more costly than they used to be.

Rather, our $5, $10 and $20 bills and our coins have suffered a severe drop in quality when considered as art.

Yes, money is art, whether it’s the engraving that makes up the bills or the bas-relief sculpture on our coins. There are long histories in both as art mediums, from the intricate lozenge-and-dot portraits of the 17th and 18th centuries and the commemorative medallions struck from the Renaissance on.

Entire article: The art of money

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2008 05 12 Paper Money Comments (0) Permalink

Spain pressing claim against Odyssey - The New York Times

The Spanish government is pressing its claim to a deep-sea treasure that it did not know existed until it was recovered last year by an American exploration company, saying that the gold and silver coins belongs to the state because it came from a Spanish warship sunk by the British in 1804.

Spain’s dispute with Odyssey Marine Exploration — which shipped the trove, worth as much as $500 million, out of the British port of Gibraltar to the United States last year — will be argued in a court in Tampa, Fla, where Odyssey is based.

Entire article: For This Treasure, Spain Says, Finders Aren’t Keepers

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2008 05 12 Odyssey Marine Exploration
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American Eagle Platinum price increases - NumisMaster

Gasoline is not the only thing rising in price. When proof 2008 platinum American Eagle coins went on sale May 5, prices were up in the neighborhood of 40 percent from the initial issue prices of the 2007 coins.

Mintage limits, though, remain unchanged from 2007.

The proof 2008 one-ounce coin is priced at $2,299.95 each, up 43.75 percent from the initial 2007 issue price. Mintage limit is 6,000.

Entire article: Platinum Eagle Prices Leap Higher

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World Youth Day $1 Commemorative of Pope - NumisMaster

Pope Benedict XVI will make his first trip to Australia in July as part of the Catholic Church’s World Youth Day 2008. The Perth Mint has issued a $1 commemorative coin to mark the occasion.

Entire article: Dollar to Mark Pope’s Australian Visit

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2008 05 12 Commemorative Coins
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Odyssey Marine Exploration responds to media after Spain “Black Swan” press conference - Odyssey

Tampa, FL - May 8, 2008 - Following a significant amount of international media coverage based on a press conference held by the Spanish Ministry of Culture in Madrid on May 8, 2008, Odyssey Marine Exploration, Inc. (NasdaqCM: OMEX) wishes to publicly address the most frequently asked questions by media and the public.

To clarify, Odyssey was not in attendance at the press conference, which was presided over by representatives of the Spanish government as well as Spain’s legal counsel. Our statements are therefore based on media reports of the actual event and Spain’s Responses to the Court’s Interrogatories that Spain filed in U.S. District Court for the Middle District of Florida on May 8, 2008.

Entire article: Odyssey Marine Exploration Responds To Recent Media Reports Following the Spanish Government’s “Black Swan” Press Conference

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2008 05 12 Odyssey Marine Exploration
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Treasure hunters at Horn Rapids - Herald

Quinton Markel instantly dropped to his knees when his metal detector buzzed, expertly fingering through the thick grass and pocketing his prize — a quarter.

The 10-year-old Richland boy was among nearly 80 treasure hunters spending the weekend scouring the landscape at Horn Rapids Campground at the Southeast Washington Association of Treasure Hunters’ 20th Anniversary Treasure Hunt.

The hunters, armed with their requisite metal detector weapons, comb sectioned-off areas to find the bounty hidden by event organizers.

Entire article: Treasure hunters buzzing around at Horn Rapids

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2008 05 11 Metal Detecting Comments (0) Permalink

Texas’ early currency - dallasnews.com

SAN ANTONIO – The birth of Texas as a republic is often told in stirring tales of heroic battles for independence. Often lost in history, however, are the hard lessons those long-ago heroes learned:

Revolution is easy. Creating a workable government is hard – and expensive. A massive new collection of 19th-century Texas money helps trace the republic’s shifting fortunes, said James Bevill, president of the Texas Numismatic Association and a principal architect of the exhibit.

Entire article: Texas’ early currency offers look at young republic’s shaky financial roots

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2008 05 11 Paper Money Comments (0) Permalink

Mother’s Day coin proposed - Sunday Gazette-Mail

WASHINGTON - Sen. Jay Rockefeller, D-W.Va., has introduced legislation that would require the secretary of the treasury to mint coins commemorating the 100th anniversary of Mother’s Day. Proceeds from the keepsake coins would go to the Susan G. Komen for the Cure Foundation and the National Osteoporosis Foundation.

Entire article: Centennial Mother’s Day coin proposed

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2008 05 11 Coin Legislation Comments (0) Permalink

H.R. 5512, the Coin Modernization and Taxpayer Savings Act of 2008, passes House - CoinNews

The House debated on the legislation and finally voted yesterday to change the metallic composition of the penny and 5-cent nickel to a less expensive copper-colored steel.

Although the prices of copper, zinc and nickel metals in coins have declined in recent months, the penny and 5-cent nickel still cost more to make than what they’re worth—resulting in a reported loss of about $100 million every year, or $1 billion over a decade.

It now costs about 1.26 cents to make the penny and about 7.7 cents to make the nickel.

House bill “H.R. 5512, the Coin Modernization and Taxpayer Savings Act of 2008” would seek to change those manufacturing costs by using copper-colored steal, which could cut the cost of making pennies down to about 0.7 cents each. But its recent passage in the House is no guarantee it’ll make its way to the White House for signing.

Entire article: House Passes Bill For Steel Cent and Nickel

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2008 05 11 Coin Legislation
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Collectors Universe Reports Results for Third Quarter Ended March 31, 2008 - Collectors Universe

NEWPORT BEACH, Calif., May 9 /PRNewswire-FirstCall/ — Collectors Universe, Inc. (Nasdaq: CLCT), a leading provider of value-added authentication and grading services to dealers and collectors of high-value collectibles, diamonds and colored gemstones, today announced financial results for its third fiscal quarter of 2008 ended March 31, 2008.

For the third fiscal quarter of 2008, the Company reported net revenues of $10.9 million and a loss from continuing operations of $966,000, or $0.11 per diluted share. This compares to net revenues of $11.1 million and a loss from continuing operations of $68,000 or $0.01 per diluted share, for the third fiscal quarter of 2007. Results for the third quarter of fiscal 2008 reflect lower coin trade show revenues of approximately $950,000, reflecting one less trade show and more challenging conditions for trade show gold coin submissions in the quarter, due primarily to the rapid increase in gold bullion prices.

Entire article: Collectors Universe Reports Results for Third Quarter Ended March 31, 2008

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ANA School of Numismatics will offer its Fundamentals of Grading United States Coins - ANA

The American Numismatic Association’s School of Numismatics will offer its Fundamentals of Grading United States Coins, from 9 a.m. to 5 p.m. Nov. 8-9 during Coinfest in Stamford, Conn.

Students will learn and understand how U.S. coins should be graded according to the latest ANA and market standards during this highly enriched two-day seminar. Participants will gain confidence in evaluating surface marks, strike, luster and eye appeal through interactive discussions, group activities and individual study of hundreds of coins from the ANA grading set.

Entire article: The ANA School of Numismatics is Coming to Connecticut in November

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2008 05 11 American Numismatic Association
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