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Jake's Newsletter Archive
| ------------------------------------------------------------------ Subject: Jake's - October 2000 Numismatic Newsletter Greetings from Jake's Marketplace, Inc. Your "Satisfaction Guaranteed" Coin Dealer ------------------------------------------------------------------ Jake's Privacy Policy We respect your privacy. Your subscription information will never be sold, rented, traded, or used by anyone else. You have Jake's word on that! To subscribe, send E-mail to: mailto:newsletter@jakesmp.com?subject=subscribe To unsubscribe, send E-mail to: mailto:newsletter@jakesmp.com?subject=unsubscribe Previous issues of Jake's Newsletter may be seen at: http://www.jakesmp.net/NLA_Newsletter_Archive/Newsltr_archive_001_M.html ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ In This Issue... A MESSAGE FROM ANOTHER JAKE An old book worth reading. Jake's 2000 Getting ready to finish the year. 8 + YEARS TO GO The Statehood Quarter Program SOMETHING NEW Keeping updated. OTHER ITEMS IN THE NEWS New issues for collectors. QUESTIONS Mint marks and designers initials. NEW LINKS New coins, products and updates to our website. NEWSLETTER SUBSCRIBERS FIRST CHANCE SPECIALS LINK http://www.jakesmp.net/SPC_All_Specials/JNL_Specials/001_11312000_M.html For current information, new links and changes visit our home page http://www.jakesmp.net/JGI/jgi_home_M.html ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ A MESSAGE FROM ANOTHER JAKE Grandpa Jake asked me to delay sending this newsletter a few days so he could include the new Newsletter Subscribers link listed above. I have more details explained later in this newsletter. Thank you for subscribing! Having a fresh idea to write about can be a scary thing. One tends to respect writer's block very quickly when preparing to write a Monthly newsletter. However, when there is so much old news that can be appreciated as new information the effort is worth the reward. A book I recently unpacked has made for great reading again. Having read mostly the information I was in search of to answer a customer question or settle a note of personal curiosity I finally took some time to start reading the publication from the front cover. The book in question is "Cowles Complete Encyclopedia of U.S. Coins." If your local library has a copy, I am sure you will have to brush off some dust as this book has valuable information that has long been taken for granted and in most cases greatly ignored. Written by Mort Reed and copyrighted in 1969 the publication was promptly re-released in second and thirds printings in the next eight months! The entire book is a history lesson now, but some of the information this book provides bears as much weight today as it did over 30 years ago. The foreword written by Gilroy Roberts, best know as the designer and engraver of the Kennedy Half-Dollar and former engraver of the United State Mint offers something I would like to explore in part in every newsletter. His words "A numismatists is defined as one who is skilled in numismatics, the science of coins and medals. Coins are an ever present commodity in the daily lives of all of us, and such familiar, uncomplicated objects that we tend to take them for granted. That there can be a science about these everyday commonplace things seldom occurs to most of us." Fast-forward to today where some twenty billion coins are produced annually the quoted statement above reveals that even after 30 years the remark bears more truth today than ever. Maybe most of that was promoted by the fact that before 1999 very little changed in the images we found on our coins. A lack of variety made it easier to dismiss the desire to recognize the subtle to major differences each coin we use daily does have. Collecting is "In" again, and class is in session. Welcome to Numismatics 101! If you have any comments, questions or suggestions please use this link. mailto:newsletter@jakesmp.com?subject=comments --Filling in for Grandpa Jake, Michael Jacobs. JAKE'S 2000 In the rapidly approaching holiday time of year the reminder of gift giving and the tokens of your appreciation in coin form have always proven to be a hit. Even if you know a person is not a coin collector the gift of a single coin in a well-displayed holder will be a treasured gift for years to come. This year of course brings something we see only once every 100 years. A great date with a bunch of zero's, a number that shows the start of something new. But what it does in mystique will have great effect on demand for anything with the 2000 date on it. The U.S. Mint has already experienced sellouts of Proof Silver and some sizes of Proof Gold American Eagles. Sellouts are also predicted for the annual proof sets and silver proof sets so we wanted to let you know now. As much as Jake's tries to inventory coins and sets for the current year we express our concerns that these items will be extremely difficult to keep in stock the final 4-6 weeks of the year. If you are thinking of that special someone, you are best to place your order now. Here are the links to product with 2000 dates we have available this year. These are main page links you will need to scroll down the page for these items Silver Eagles *-Uncirculated http://www.jakesmp.net/CD_Coin_file/039_Eagle_dollar/Eagle_dollars_002_M.html *-Proof http://www.jakesmp.net/CD_Coin_file/039_Eagle_dollar/Eagle_dollars_003_M.html *-Annual Proof Set http://www.jakesmp.net/GP_Proof_sets/GP_Proof_sets_001_M.html *-Annual Mint Set http://www.jakesmp.net/GP_Mint_sets/GP_Mint_sets_001_M.html *-The Silver 10 Coin set. Delayed, see "Other items in the news" for more information. For a selective review of some of the gift giving items we offer at www.Jakesmp.net please visit our "Gift Shop" link at: http://www.jakesmp.net/Gift_shop/GS_Gift_Shop_001_M.html 8 + YEARS TO GO. U.S. Mint Quarter Program http://www1.usmint.gov/50states/default.htm The recent release of the Virginia State Quarter completes the second year of the highly successful State quarter program. 2001 will be an interesting year as the series expands we will see New York, North Carolina, Rhode Island and Kentucky. Demand, interests and a general list of misinformation exist about the program still so once again would like to advise collectors that the U.S. Mint has a dedicated section of there website for this topic. From great images of future releases to details that tell more about each coin can found at this link: http://www.usmint.gov/mint_programs/50sq_program/index.cfm?action=designs_50sq If you have kids that are into collecting this area of the Mints website will make for interesting reading and just might assist in their U.S. History lessons! SOMETHING NEW The U.S. Mint is creating a commemorative coin set with the Republic of Iceland. Commemorating the millennium celebration of Leif Erickson's discovery of the New World. The U.S. Mint will be handling sales of coins that include an U.S. Proof and Uncirculated Silver dollar and the Republic of Iceland Proof coin. These items can be purchased as single coins or a two-coin set of both countries proof coin. Please note time is limited as sales close December 31, 2000. The next commemorate issued this year by the United States mint offers two first time events. The Library of Congress two coin set offers a traditional Silver dollar and the first bimetallic $10.00 coin, issued with a Gold outer ring and a Platinum center, it is also the first Commemorative coin set to honor a library! For more detail about these two coin set and other commemorative issue visit this link. http://www.usmint.gov/mint_programs/index.cfm?action=commemoratives In the last two years, there has been a flood of stories about error coins. In our last newsletter I wanted to talk more about the first know mule error the U.S. Mint has issued. Since then a second coin has been discovered. Most of these stories circulating are getting the proper treatment when explaining the details of what you find, but none have made a clear list of what items are in circulation and what one should be looking for. Let us review the error list of recent news, these are not in release order but with respect to the coins date or possible year of issue. 1999 - Error examples of Susan B. Anthony Dollars are offered to Dealers at a national convention before the coins release. 1999 - State Quarters are found with rotated reverses. The error is known to exist on all 1999 State Quarter issues. 1999-W 1/10 oz. And 1/4 Oz. Uncirculated Gold American Eagles are discovered with "W" Mintmark only found on Proof Versions. 1999-P - Susan B. Anthony Struck on a manganese-brass planchet made for the new Sacagawea Dollar. Undated - Mule, obverse side of the new George Washington found on the Statehood Quarters, the reverse is the reverse design soaring American bald eagle. To date six coins have been confirmed and one dealer reported examining 15 coins owned by one person. 1999-W Washington $5.00 Commemorative stuck on a dime planchet. Interesting error since the only time a dime was struck at West Point was for the 1996 mint set, the coin was issued as a 50th. Anniversary celebration to the coin series first issued in 1946. Interesting note to this error discovery is the coin was found packed with the $5.00 gold coin issued in this set, both coins were in the same display capsule. 1999 - Mule, Lincoln cent with a Roosevelt dime reverse. Please note: over the years a Magicians coin has been made with the obverse of a Lincoln cent and the Reverse of a Mercury or Roosevelt dime (obverse and reverse designs have been switched for some issues). The differences in both coins are unique. The TRUE mule coin is completely copper on both sides of the coin. The Magician coin is two separate coins milled and bonded together. The cent side being copper and the reverse dime side made of either the 90% Silver as issued from 1946-1964 or the Copper-Nickel Clad typical of all Roosevelt dimes issued from 1965 to date. 2000-P Sacagawea Dollar struck over that of a Barbados Dollar coin. Interesting error since the Barbados coin is minted in Canada by the Royal Canadian Mint. 2000-P Sacagawea Dollar Struck on the outer ring made for the Canadian $2.00 Polar Bear coin. This might be the first U.S. error coin with a hole in it? The previous two errors are possible as the U.S. Mint is getting some of its Sacagawea planchets made by the Royal Canadian Mint. 2000-P Maryland State Quarter struck on a planchet for the Sacagawea dollar. This wrong type metal error is a first. The idea that a larger coin cannot fit into the coin press for that of a smaller coin make this error very interesting. The coin has a smooth rim like the new dollar coin but bears all the striking detail of the State Quarter. This can only be created when the Statehood Quarter dies are placed into the coin press currently striking the new dollar coins. 1999-P/2000-P Massachusetts State Quarter struck over 1999-P Georgia State Quarter. 2000-P Sacagawea Dollar struck on an unknown white metal planchet. Now this list is not even complete! But what has happened recently is a Mint employee by the name of David J. D'Angelo has been arrested for removing and selling Mint error coins. Details of the story and events related to this case are incomplete. OTHER ITEMS IN THE NEWS. Collectors expecting the 2000 Silver Proof sets are going to have to be patience. The U.S. Mint violated the law creating the Silver version of the annual proof sets in 1999. The legal loophole was avoided when the Susan B. Anthony dollar was not included in the set. With the 2000 Silver proof set we expected to receive the new Sacagawea dollar similar to that of the regular issued Proof set. The U.S. Mint did not consider the law that requires all coins issued for these sets except the cent and nickel to be in Silver. The U.S. Mint intentions was to issue the new dollar coin in the same composition as the circulating and proof issue coin, the violation of this law is key element in the delay. I went in search of a good link from the U.S. Mints Press Release section of their website for more details but could not find anything. I did however find this sentence now posted at the top of the Annual Sets page "We may be delayed in filling orders for the U.S. Mint Silver Proof Set(tm). Please check our website for updates." I guess I will just keep checking! Coinage redesign has been a topic of this last month. There are a lot of details to this subject and one that gets attention every few years. The best source for stories on the newest developments is the Coin World Website; here is a direct link to the story http://www.coinworld.com/news/2000/100200/senate100200.html Maybe next month I add my twist to just how long our current designs have been around and the age-old complaints associated with this topic. QUESTIONS Mint marks and Designers Initials. http://www.coinworld.com/reading/reference/mintmarks.html I have received dozens of E-mails over the years that read something like "I have a lady half dollar with a 'W' Mint Mark", "My Standing Quarter has an "M" Mintmark, my Buffalo Nickel has an 'F' Mint mark. Another comment I often get is a twisted version of a coin being rare because if does not have a mintmark's. A lack of information will turn the smallest detail into the one key factor a person will use to describe their coin in question, but that lack of coin knowledge and respecting the value of this small device is a basic lesson in learning more about U.S. Coins. The mintmark is something that was not always required on U.S. Coins. Its use required the act of March 3, 1835 that mandated the Mint Director to create a system of identification to indicate where a coin was issued. Extensive information of each coin series that supports a mintmark would require a couple of newsletters. The focus today is to know which Mints are producing our coins and to provide some addition insight. The list of U.S. Mints below represents facilities no longer open and currently producing coins. The four principal Mints in operation today are Philadelphia, Denver, San Francisco and West Point. No Mint Mark = Philadelphia P - Philadelphia, Pa. 1793-present, C -Charlotte, N.C., 1838-1861, gold coins only. D - Dahlonega, Ga. 1838-1861, gold coins only. O - New Orleans, La. 1838-1861; 1879-1909 S - San Francisco, Calif. 1854-1955; 1968-present CC - Carson City, Nev. 1870-1893 D - Denver, Colo. 1906-present W - West Point, N. Y. 1976-present The small mark that represents these mints has traditionally been found on a coin reverse. Exceptions to these rules have been the 1838-O Capped Bust half-dollars, the entire Lincoln Cent series 1909-date, Standing Liberty Quarter of 1916-1930 and the 1916 and 1917 Walking Liberty Half-Dollar. Since 1968, all U.S. Mint marks are found on the coins obverse. When identifying coins it is easy to see why an inexperience collector could confuse the details of a mintmark with that of the designer initials. I guess in part, as there has been less information on who designed a coin than where it was minted. The most popular coin the collector comes in contact with is the Lincoln cent. This coin has it's own folklore with regards to having it's designed initials on it. If the designer Victor D. Brenner original cent design was used his entire name would have appeared on the Lincoln Cent. Mr. Brenner's second attempt at putting his initials on the Lincoln cent was also objected to by then Secretary of the Treasury MacVeigh. This objection created the two 1909 varieties. The intentions that Brenner had were recognized and restored to the Lincoln in 1918, however this time his initials would return to the coins obverse located just on the lower edge of Lincoln's right arm. The Lincoln cent got a new set of designer initials in 1959 for Lincoln's 150th. anniversary of his birth. The new reverse features the Lincoln Memorial, the initials "FG" for Frank Gasperro appear to the right of the Lincoln Memorials base. The design change features the first time the same person is honored on both sides of one coin and the first time a coin supported designs from two different designers. Other current U.S. Coins with designer initials: * Roosevelt Dime, "JS" John R. Sinnock, located below F. D. Roosevelt's neck. * Washington Quarter, "JF" John Flanagan, located at the truncation of the neck. * Kennedy Half Dollar, Obverse design "GR" Gilroy Roberts, located at the truncation of the neck. Reverse design, "FG" Frank Gasparro, located between the Eagles right leg and tail feathers. * Susan B. Anthony Dollar, "FG" Frank Gasperro, located below obverse portrait and the eagle on the reverse. * Sacagawea Dollar, Obverse Design, "GG" Glenna Goodacre, located at base of sack holding her baby. Reverse "TDR" Thomas D. Rogers Sr., located right and under Eagle's tail feather. NEWSLETTER SUBSCRIBERS FIRST CHANCE SPECIALS LINK This is a new page at our website that will feature specials and limited availability items. Since you have requested this newsletter, we are making this link available to you first. The link is not available from our website so if you see something your interested in bookmark the page. http://www.jakesmp.net/SPC_All_Specials/JNL_Specials/001_11312000_M.html NEW LINKS World Currency Specials packaged assortments from around the World. http://www.jakesmp.net/FCD_Foreign_currency/World_Currency_001_M.html New Coin Supplies online Birth Year Holders - Gifts for the newborn child! http://www.jakesmp.net/CSD_Birth_Year/CSD_Birth_Year_001_M.html Fold and Staple Holders, 1 1/2", 2", and crown size. http://www.jakesmp.net/CSD_F_S_Coin_Holders/CSD_F_and_S_holders_001_M.html Gold and Silver Eagle holders http://www.jakesmp.net/CSD_Eagle_holders/CSD_Eagle_holders_001.M.html Oak Frame Con Displays http://www.jakesmp.net/CSD_Oak_frames/CSD_Oak_frames_001_M.html Vinyl Storage Pages - Designed for 3-ringed binders. http://www.jakesmp.net/CSD_Vinyl_pages/CSD_Vinyl_pages_001_M.html H.E. Harris Coin Folders - Great starter folders for the new collector! http://www.jakesmp.net/CSD_Harris_Folders/CSD_Harris_folders_01_M.html Thank you for reading Jake's Newsletter! Michael Jacobs Jake's Marketplace, Inc. 830 W. Route 22 #290, Lake Zurich IL 60047 Phone: 1-847-277-9814 - Fax: 1-847-277-9815 Toll Free - Exclusively for Orders 1-888-ITS-JAKE -- 1-888-487-5253 http://www.jakesmp.net Ebay Auction User name Jakesinc@Jakesmp.com ------------------------------------------------------------ You have Jake's permission to forward this newsletter to Friends, but please ask for permission before reproducing the content in any form. (c)2002 Jake's Marketplace, Inc. All Rights Reserved. ------------------------------------------------------------ =================================================== Jake's Marketplace, Inc. 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