New Variety Found on 2007 George Washington Dollar

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1 R a l e i g h C o i n C l u b Established in 1954 November 2008 IN THIS ISSUE ARTICLES New Variety Found on 2007 George Washington Dollar Final Coin in 50 State Quarters Program to Launch Looking Back The Release of the Delaware Statehood Quarter REGULAR FEATURES President s Message Meeting Minutes Show Calendar METALS INDEX Spot Prices as of 7 November 2008 Platinum: $844 (-$118) Gold: $ (-$100.90) Silver: $9.97 (-$1.19) New Variety Found on 2007 George Washington Dollar By Roger Beckner The July 16, 2007 Collector s Clearinghouse column in Coin World reported the discovery of a long ray reverse variety of the 2007-P George Washington dollar coin; the coin was discovered by Jim Morris of Clayton, NC. Shortly thereafter, I was fortunate to find two examples of the variety among dollar coins I purchased at the SunTrust Bank in Cameron Village in Raleigh. Recently, I mailed my two pieces to CONECA (the Combined Organizations of Numismatic Error Collectors of America) for attribution and, ultimately, submission to ICG (Independent Coin Grading Company) for grading and encapsulation. This combination attribute-and-submit service is available to members and non-members of CONECA, and involves an examination by a CONECA expert who provides an opinion as to a coin's error or variety classification. The coin is then forwarded to ICG where it is graded and slabbed with the appropriate variety or error designation. CONECA is printed on slab insert to identify their involvement in the coin s attribution. The new variety concerns the rays that emanate for Lady Liberty s crown on the reverse of the coin. On a standard dollar coin, the third ray, counting clockwise from Liberty s chin, extends only partially to her outstretched arm. On the variety coins, however, the ray extends all the way to the arm. The elongated ray is symmetrically correct in taper and relief, and appears fully integrated into the design which adds to its overall eye appeal. (See Figure 1.) Varieties visible to the "naked eye" (AKA "Mr. Obvious") have always enjoyed greater popularity among collectors, and, in turn, have experienced more consistent increases in value over time. New GW Dollar Variety continued on Page 4 Page 1

2 Raleigh Coin Club PO Box Raleigh NC http// Established 1954 Club Officers President Halbert Carmichael Vice President Paul Livingston Secretary Roger Beckner Treasurer Steve Pladna Sergeant-at-Arms Benji Harrell Directors (Term Ending) David Boitnott (2008) Paul Skinner (2009) Kent Woodson (2010) Newsletter Editor Dave Provost PO Box 754 Morrisville, NC Club Affiliations American Numismatic Association Member #C Blue Ridge Numismatic Association Member #C3383 Eastern States Numismatic Association Member #0026 (Life) North Carolina Numismatic Association Member #C14 (Life) Contents Copyright Raleigh Coin Club 2008 The RCC grants permission to reprint for non-profit educational purposes only any articles not individually copyrighted by the author provided the RCC Newsletter is cited as the source. October Meeting Minutes Halbert C. called the September meeting to order at 7:35pm; twenty-four members and guests (two) were in attendance. Business Halbert announced that he had made reservations for the RCC annual December holiday party at the Golden Corral on Glenwood Avenue. Discussion followed about the potential for a new venue; Benji H was appointed to explore options and report back to the membership. Halbert called upon Jim Jones to provide a Nominations Committee update. Jim reported that he and David Boitnott had approached several members to gauge interest, but were still developing the full slate of candidates. Jim stated that it would take another two weeks or so to finalize the list, but that once it was complete he would send it to Dave P for publication in the RCC Newsletter. The winner of the RCC 2008 Coin and Currency Show gold coin raffle drawing was present to receive his prize. Bob Palmer received the 1881 Half Eagle and noted that a relative of his was the winner of our gold coin drawing at the 2006 club show. Neil Ward was his name; Neil received a 1904 Half Eagle. Tom Hanks volunteered to bring the refreshments for the November meeting. Show-and-Tell Drew S (YN): A Franc coin from Congo; the coin was part of the African nation s Wildlife Preservation series. Noah C (YN): A pair of large English pennies. Roger B: A 2007-P George Washington dollar coin variety featuring an unusually long ray in Liberty s crown; the coin was attributed by CONECA and certified by ICG. (See lead story in this issue for more details about the coin.) Meeting Minutes continued on page 3 Page 2

3 President s Message It is with sorrow and nostalgia that we note the passing of Charles Hoskins. Hoskins was the first director of ANACS, the first authentication service started in this country. After leaving ANACS, he organized INS as a competing service. As the head of INS he visited Raleigh on several occasions. On one, he conducted an all-day seminar on detecting counterfeit coins. After a morning of showing us the coins he brought and showing us how, with the aid of a microscope, to see the differences between authentic and counterfeit coins, he threw the floor open for club members to examine their own coins and make comparisons. There was one problem: every one of the two-and-a-half dollar gold pieces that club members brought was bad. The major business of the November meeting will be the election of officers for I want to congratulate Jim Jones for his hard work in assembling a slate of officers for RCC for The slate should be listed elsewhere in this newsletter. However, there will be provision for nominations from the floor at the meeting. Ask not what your coin club can do for you. Ask what you can do for your coin club. ARTICLES WANTED Send your newsletter articles, short or long, to the Editor at: commems@aol.com -- H2C November Meeting Notice DATE 15 November 2008 TIME 7:30pm WHERE Pullen Community Center PROGRAM Bob Izydore The Durham Eagle Collection of Liberty Seated Quarters Meeting Minutes (cont.) Dave P: A 1915 Peru Un Sol piece graded MS-65 by PCGS (the coin was described by Dave in the October issue of the RCC Newsletter). Also, a photocopy of a modern Peru banknote featuring the same designs as the Un Sol coin. Program The evening s program was presented by Halbert, it was titled The Chancery Hoard. The talk discussed the coins that circulated at the time the hoard was deposited in the Chancery and included a census of the silver and gold coins in the hoard; the coins in the hoard dated from the reign of Henry VIII to William III. Halbert also discussed the work of the British Museum in cataloging the large hoard. The meeting closed with the raffle and member prize drawings. Halbert adjourned the meeting at approximately 9:20pm. Page 3

4 New GW Dollar Variety (cont.) 2009 RCC Officer Nominations The following slate of candidates has been assembled by the 2008 Nomination Committee of Jim Jones and David Boitnott. Additional candidates for all open positions can be nominated at the November club meeting. President: Vice President: Secretary: Treasurer: Sargeant-at-Arms: Director 1: Director 2: David Boitnott Jim Jones Richard Brown Steve Pladna Benji Harrell Paul Livingston Roger Beckner Long ray variety of 2007-P George Washington Dollar Other well-known varieties that fit into this naked eye category include the: 1937-D Three Leg Buffalo nickel 1995 Doubled-die Lincoln cent 2004 High Leaf and Low Leaf Wisconsin quarters I m happy to report that the two coins I submitted both came back certified as mint state examples one an MS-63 and one an MS-64. I m also pleased that my coins were the subject of a Collector s Clearinghouse followup piece in the November 17, 2008 issue of Coin World (page 106). The election of officers for 2009 will take place at the November meeting. If no additional nominations are received, current Secretary Roger Beckner will place a single vote for the uncontested slate and officially elect the candidates. ANA Seeking Numismatic Theatre Proposals for Portland Show American Numismatic Association members are encouraged to share their creativity and research with fellow hobbyists by delivering a Numismatic Theatre presentation at the 2009 National Money Show, March in Portland. Collectors interested in giving a Numismatic Theatre presentation can download a proposal form at Page 4

5 Final Coin in 50 State Quarters Program to Launch The Hawaii quarter will say "Aloha" to the Nation when it is ceremonially launched at Bishop Square in downtown Honolulu at noon on November 10, The Hawaii commemorative quarter-dollar will be the final coin produced in the United States Mint's 50 State Quarters Program, the most successful coin program in U.S. history. An estimated 147 million people collect the quarters in this popular series. United States Mint Director Ed Moy will join Governor Linda Lingle in handing out shiny new Hawaii quarters to children under 18 who attend the launch. This lunchtime event is free to the public and the media are invited. The reverse (tails) design of the Hawaii quarter, by United States Mint Sculptor- Engraver Don Everhart, features Hawaiian monarch King Kamehameha I with his right hand extended toward the eight major Hawaiian Islands. Inscriptions include the State motto, "UA MAU KE EA O KA?INA I KA PONO" ("The life of the land is perpetuated in righteousness"), "Hawaii" and "1959." After the ceremony, featuring a keiki (children's) hula performance and Hawaiian music, the public may exchange bills for $10 rolls of Hawaii quarters at the event. Banks across Hawaii will also have the new quarters available that afternoon. The Hawaii quarter went into circulation on November 3, 2008, but because the process of circulation often takes a couple weeks, most Americans will not see the Hawaii quarter in their change until mid- November. In 2009, the United States Mint will embark on the District of Columbia and United States Territories Quarters Program by minting and issuing six newly designed quarters. Looking Back January 4, 1999 U.S. Mint Ships New 50 State Quarters to Federal Reserve Banks Delaware Reverse Design Is First in 10- Year Program Washington, D.C. -- The U.S. Mint today announced that it has shipped the first of the new 50 State Quarters to the Federal Reserve for distribution to commercial banks and financial institutions. Hawaii Statehood Quarter Reverse The first 50 State Quarter features a reverse (tails) design honoring the state of Delaware. The coin is expected to start appearing in circulation in late spring or early summer, and while the goal is to make the coin as widely available as possible, it will not be readily available in every part of the country. Looking Back continued on Page 6 Page 5

6 Looking Back (cont.) "The United States Mint will be striking and shipping a new state quarter to the Federal Reserve every ten weeks for the next ten years," said Mint Director Philip N. Diehl. "We begin with Delaware and continue throughout the year with quarters bearing reverse designs honoring Pennsylvania, New Jersey, Georgia and Connecticut -- the first changes in the designs of the U.S. circulating coins since the Bicentennial in 1976." By enabling Americans to collect these circulating commemorative quarters, we'll be able to share the joys of coin collecting and expand the traditional educational role of coins nationwide. And in the near future, we'll announce the annual collector coin sets that will include the 50 State Quarters," Diehl added. The Delaware coin's reverse depicts Caesar Rodney on horseback making his historic ride to cast the tie-breaking vote in favor of independence. The famed portrait of President George Washington will continue to grace the obverse ("heads"); however, inscriptions have been moved to accommodate the State designs on the reverse. The Eagle reverse is scheduled to resume in Signed by the President in late 1997, the legislation authorized the Mint to honor the 50 states in the order they entered the Union or ratified the Constitution by producing five quarters each year from 1999 through The design process for each quarter is determined within each state by the Governor before design concepts are sent to the Mint, and then returned to the states for final selection. Approval of the final design rests with the Treasury Secretary. The 50 State Quarters will be manufactured at both the Philadelphia and Denver Mints, which produce all legal tender U.S. circulating coins, before being shipped to the Federal Reserve for distribution through the banking system. The Mint projects production for each 50 States Quarter will range from 500 million to 750 million for each state reverse design. Nov 15 Show Calendar Mooresville, NC Lake Norman Coin and Currency Show National Guard Armory N. Broad Street, Hwy 115 S Hours: Sat 19:00am to 4:00pm Tables: ~40. Free Nov 22 Reidsville, NC Reidsville Coin Club Holiday Coin Classic Show New Exhibit Center 223 South Scales Street Hours: Sat: 10:00am to 6:00pm Tables: ~40. Free Delaware Statehood Quarter Reverse Page 6 Nov Rocky Mount, NC The Original Coin and Currency Show Moose Lodge 521 Country Club Road Hours: Tables:? Free Sat: 10:00am to 6:00pm Sun: 10:00am to 4:00pm