Senate Proposes to Delete Cent Coin & $1 Note

Senate Bill # S.759, the Currency Optimization, Innovation & National Savings (COINS) Act of 2017 proposes to suspend the coining of one cent pieces, changing the composition of the nickel, and replacing $1 notes with $1 coins.

Coin Collecting Dayton, OH

The 1-cent coin would be suspended for ten years, eliminating spending 1.5 cents to produce the 1-cent coin.

It is reported that it costs 7.44 cents to make the present day nickel. The change would be that instead of containing 25% nickel and 75% copper, the new nickel would be 20% nickel and 80% copper.

Replacing $1 notes with $1 coins was been attempted before. However the government never quit printing $1 notes in the past. If passed, the bill would take affect within 2 years. $1 notes may still be printed for numismatic purposes, whatever that means, but the Federal Reserve would begin removing the notes from circulation. They would, however remain legal tender currency.

Thursday, May 18th, 2017 Uncategorized Comments Off on Senate Proposes to Delete Cent Coin & $1 Note

The Different Uses of The Word “Coin” & Other Money Terms

When you hear the word “coin” what does it mean? In the English language we use the word “coin” many different ways.

coin collecting Dayton, OH

Have you ever heard…?
To coin a phrase
2 sides of the same coin
Flip a coin
A coin of the realm
Toss a coin in the fountain (if in Rome, use your right hand & throw the coin over your left shoulder)
Make some fine coin (as in make a lot of money)
Phony as a $3 bill
Drop a dime on someone (turn them in for something they did)
Insert a coin (into a vending machine)
Chocolate coins (foil-wrapped candy)

Money Slang
$1 bills – also known as ones, singles, bucks
$5 bills – a fiver or a fin
$10 bill – a ten-spot or a sawbuck
$100 bill – a C-note

How about these different names for money?
Bread
Dinero
Dough
Moolah
Clams
Smackers

Thursday, May 11th, 2017 Uncategorized Comments Off on The Different Uses of The Word “Coin” & Other Money Terms

Spending Money

Coin Collecting Dayton, OH

 

Our next meeting on May 4th will include a member’s auction.

Bring what you want to sell.

Buy want you want to collect.

There are no selling or buying fees!

Saturday, April 22nd, 2017 Uncategorized Comments Off on Spending Money

1967 Kennedy Half: Last of a 3-Year Series

From 1965 to 1967, the US Mint produced Special Mint Sets (SMS) instead of striking proof sets. SMS were struck without mintmarks so there are no D or S issues.

The 1967 Kennedy Half, the last of the non-mintmarked coins from those series, had the highest mintage of the three years. The three mints produced more than 295 million 1967 Kennedy Halves. They were also the most heavily saved, a result of the Mint’s elimination of silver in coins minted beginning in 1971.

The problem was most of the ’67 Kennedys that were saved, were pulled from circulation. They were not mint state. When the price of silver reached $49.45 per ounce in 1980, many of the 40% silver Kennedys were melted.

coin collecting, coin club Dayton

Today, 1967 Kennedy Halves in MS-65 are no longer a common coin. Twenty years ago 1967 Kennedys in MS-65 were valued at $2.25. Today they list for $30. With a low supply, the rise in value may be headed further upward. It may be worth a collector keeping an eye out for MS-65 1967 Kennedy Halves.

As an added note, a 1967 NGC MS-69 Ultra Cameo Kennedy Half sold at a 2016 ANA auction for $19,975, without adding in the buyer’s premium.

Thursday, April 13th, 2017 Uncategorized Comments Off on 1967 Kennedy Half: Last of a 3-Year Series

It Is Said

Coin Collecting

 

Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver. – Ayn Rand

Tuesday, April 4th, 2017 Uncategorized Comments Off on It Is Said

April 2017 Meeting

Our April meeting will be Thursday, April 6th @7:00PM.

Make plans to be there.

A presentation on polymer money is planned.coin collecting Dayton, OH

Wednesday, March 29th, 2017 Uncategorized Comments Off on April 2017 Meeting

2017 Proof Set Goes On Sale

The 2017 US Proof Sets will go on sale on March 29, 2017. This will be the first time since 2006 that the sets will not include any Presidential Dollar coins. The set will include a Native American Dollar, Kennedy Half, 5 ATB Quarters, Roosevelt Dime, Jefferson Nickel, and Lincoln Cent.

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Sunday, March 26th, 2017 Uncategorized Comments Off on 2017 Proof Set Goes On Sale

The 1895 Morgan Dollar – The King of Morgan’s

The 1895 Morgan Silver Dollar is known as the “King of the Morgan Dollars” because it is the rarest and most valuable of the entire Morgan Dollar series. PF-68 specimens of this rare coin have sold for upwards of $120,000 at auction and today it is estimated that it would sell for well over $200,000.

coin collecting Dayton, OH

According to U.S. Mint records, there were 12,000 regular circulation Morgan Silver Dollars struck for 1895, and 880 Proof specimens struck. However, only 75 to 80 of the 1895 Morgan’s have been accounted for, all of them Proofs. Where did 12,000 plus coins go?

Scholars are divided in their opinions as to why the 12,000 business strike specimens of the 1895 Morgan Silver Dollar have vanished into history. Most believe that the coins were never minted in the first place, and that this notation in the Mint accounting ledgers is in error. Many experts believe that the coins were minted, but melted down for various unknown reasons.

Monday, March 20th, 2017 Uncategorized Comments Off on The 1895 Morgan Dollar – The King of Morgan’s

2000: The Year of The $1.25 Mule

A mule is the offspring of a donkey and a horse. The term “mule” in numismatics is usually used to describe the mating of two different denominations on a single coin.

In the year 2000, the die for the obverse of a statehood Washington quarter was “mated” to the reverse of a Sacagawea dollar die. The result was a short run of $1.25 mule coins. At the time of their discovery these mules were selling for tens of thousands of dollars.

After an intense investigation, the Secret Service charged two former employees of the Philadelphia Mint with selling these coins to dealers and collectors. One dealer managed to purchase 7 of the 10 coins that were known of at that time, paying a whopping $600,000 for them.

Coin Collecting Dayton, OH

To date, 15 of these mule coins are known and have been certified. A single collector owns 11 of them. The highest, publicly known price that he paid for a single coin was $117,500 at a Stacks Bowers auction in August of 2014.

Friday, March 10th, 2017 Uncategorized Comments Off on 2000: The Year of The $1.25 Mule

March 2017 Meeting & Coin Show

We had great attendance at both our monthly meeting. Members displayed some of their recent acquisitions which included a GSA Morgan Dollar in NGC MS-63 grade and an Australian polymer $5 note.

 

Our coin show had more than 40 tables to view coins. These tables were set up by hobbyists as well as dealers from around the Miami Valley and beyond. There were coins of all grades and price ranges. If you were looking for it, it was there!

Coin collecting Dayton, OH DSCN6959 DSCN6960 DSCN6961 DSCN6962

Sunday, March 5th, 2017 Uncategorized Comments Off on March 2017 Meeting & Coin Show

2017 Coin Show March 5

In less than one week, the Dayton Kettering Coin Club holds it’s annual coin show.

You don’t want to miss it!

Dayton Kettering Coin Club

Monday, February 27th, 2017 Uncategorized Comments Off on 2017 Coin Show March 5

“Wooden” You Know It?

Orville wasn’t exactly the spitting image of a 1920’s gangster. He didn’t own a gun, he didn’t tote around a violin case, and he didn’t wear a pinstriped double-breasted suit. He rarely left his house except to put in his eight hours at work, five days a week. He was happily married and had two children.

What he did have was a limp. A hunting accident when he was young cost him his leg. Ever since he was thirteen he had worn a wooden leg.

He made $4.00 a day along with a $20.00 monthly bonus. Although he had an engineering degree from the Colorado School of Mines, he was a longtime valued and trusted employee at the Denver Mint.

coin collecting Dayton, oH

Denver Mint 1920’s

Over a five-month period he managed to steal fifty-three gold bars. He carried them out of the Mint in his hollowed out wooden leg. Adjusted for inflation that would be equivalent to more than $828 million.

He was stopped at the end of his shift one night and confronted about the missing gold. Orville admitted his guilt, saying that he buried the bars in his backyard garden. He was sentenced to ten years in prison. And so the first great Denver Mint robbery was solved.

When Orville’s house was torn down thirty years later so a new highway could be built, many people did a whole lot of metal detecting in his backyard, hoping to find a missed golden bar. None were found!

Friday, February 24th, 2017 Uncategorized Comments Off on “Wooden” You Know It?

Identity Unknown?

coin collecting Dayton, OH

Wednesday, February 15th, 2017 Uncategorized Comments Off on Identity Unknown?

Collecting Suzie B’s Could Be Golden

There’s good news and bad news about building a collection of Susan B. Anthony dollars. The good news is that there are no rarities. Also it is relatively inexpensive to build a complete set.

The bad news is the series is short, and except for the Wide Rim (Near Date) 1979-P, there are no significant varieties.

But what about that Wide Rim 1979-P?

coin collecting, Susan B Anthony

Did you know that the Wide Rim was a planned coin, not a true variety? After receiving numerous complaints about the dollar coin being easily mistaken for a quarter, the Mint thought that by making the rim wider, it would make the coin more distinguishable from the quarter.

Yeah, that really worked, didn’t it?

 

P.S.

In 1999, some Anthony dollars were struck on Sacagawea “golden” planchets. Only about a dozen are known to exist. They are valued between $12,000 and $15,000. Makes you want to double-check all those golden Sacagawea dollars you come across, doesn’t it?

coin collecting, Susan B Anthony

Tuesday, February 14th, 2017 Uncategorized Comments Off on Collecting Suzie B’s Could Be Golden

February 2017 Meeting

The highlight of our February meeting was a presentation by Bill William. He attended this year’s Florida United Numismatics (FUN) Show in Ft. Lauderdale, Florida. Bill shared a slide show of his journey through the bourse floor and the many hours it took due to the show’s number of dealers and exhibits. He recommended that everyone should attend at least one of these major coin shows.

coin collecting Dayton, OH

We also held a members auction. There were many, many coins for sale and several people added a number of wonderful coins to their collections. These meetings and auctions are always open to the public and we encourage anyone interested in coins and collecting to join us.

Our next meeting will be held March 2, 2017 at 7:00pm at St. Mark’s Church located at 456 Woodman Dr. Dayton, Ohio. We look forward to seeing you there.

Tuesday, February 7th, 2017 Uncategorized Comments Off on February 2017 Meeting

U.S. Mint Surprise

Due to the 225th anniversary of the U.S. Mint, the 2017 Lincoln Cent will have a “P” mint mark. This will be a one-year only type and it was kept a secret by the mint. The 2017-cent will be struck for circulation quality and Uncirculated finish versions.

coin collecting

Never before in U.S. history has a cent carried the “P” mintmark. The only other times the Philadelphia mint issued a mint mark was in 1942 – 1945 when it was placed on the war-time silver Jefferson nickels and in 1979 on the Susan B. Anthony dollars. In 1980 the mintmark was extended to all circulating from Philadelphia except the cent.

The coins were released to Federal Reserve Banks in early January. On a recent trip to my local bank, no 2017 cents had arrived yet. So be on the lookout, they may not be rare but the cents will be a one-year type.

Tuesday, January 31st, 2017 Uncategorized Comments Off on U.S. Mint Surprise

2017 Lions Clubs Centennial Silver Dollars Launch

by DARRIN LEE UNSER on JANUARY 18, 2017

from CoinNews.net

coin collecting

Coins commemorating 100 years of the world’s largest service club organization, Lions Clubs International, are now available from the United States Mint.

The Lions Clubs International Century of Service Commemorative Coin Program was authorized under Public Law 112-181, enacted on Oct. 5, 2012, to celebrate the centennial of the establishment of Lions Clubs International.

2017 Lions Club Centennial Silver Dollars in collectible proof and uncirculated finishes and at introductory, discounted prices launched today at noon Eastern Time. Each one sold will benefit the Lions Club International Foundation.

LCI (www.LionsClubs.org) was founded in 1917 by Melvin Jones. Today, the organization has a memberships of over 1.4 million and operates from 46,000-plus clubs throughout the world. Humanitarian projects served by the organization include SightFirst, disability and youth programs.

Silver Dollar Designs

For the silver dollar’s obverse or heads side design, 14 candidates competed against each other. Each of them depicted Lions Club Founder Melvin Jones in varying perspectives. The winning design, created by Joel Iskowitz and sculpted by Joseph Menna, shows Jones along with the club’s logo.

2017-P Proof Lions Clubs Commemorative Silver Dollar – Obverse (heads side). Obverse inscriptions read LIBERTY, IN GOD WE TRUST, 2017 and MELVIN JONES FOUNDER. The artist’s and sculptor’s initials are also shown.

 Twenty-one different candidates were presented as possible options for the coin’s reverse or tails side. The selected design depicts a male and female lion with a lion cub superimposed over a globe. Patricia Lucas-Morris created the artwork and Don Everhart sculpted it.

2017-P Proof Lions Clubs Commemorative Silver Dollar – Reverse (tails side). Reverse inscriptions include $1, E PLURIBUS UNUM, UNITED STATES OF AMERICA, CELEBRATING 100 YEARS OF SERVICE, and the artist’s and sculptor’s initials.

 Both coins are produced at the U.S. Mint facility in Philadelphia to a composition of 90% silver and 10% copper, with each having a reeded edge, a diameter of 1.500 inches, and weight of 26.730 grams.

Introductory and Regular Prices

Introductory coin prices of $46.95 for the uncirculated and $47.95 for the proof are available until Feb. 15 when regular pricing begins at $51.95 and $52.95.

Wednesday, January 18th, 2017 Uncategorized Comments Off on 2017 Lions Clubs Centennial Silver Dollars Launch

The $1 Dollar Bill and The Number 13

coin club                     coin collecting

There are:

13 different representations of the number 13 on the bill

13 stars above the eagle

13 steps on the pyramid

13 vertical bars on the shield

13 horizontal stripes on the top of the shield

13 leaves and 13 berries on the olive branch in one of the eagle’s talons

13 arrows in the other eagle talon

13 characters in “1776” and its Roman Numeral equivalent “MDCCLXXVI”

13 letters in “ANNUIT COEPTIS”

13 letters in “E PLURIBUS UNUM”

13 segments to the worm-looking things that come off the sides of either circle on the back of the bill.

And 13 stars above the key on the Department of Treasury seal on the front of the bill.

Monday, January 9th, 2017 Uncategorized Comments Off on The $1 Dollar Bill and The Number 13

2017 Dayton-Kettering Coin Show

Dayton Kettering Coin Club

Sunday, December 18th, 2016 Uncategorized Comments Off on 2017 Dayton-Kettering Coin Show

Weird Money Facts

  1. The Bureau of Engraving and Printing uses 9.7 tons of ink each day. It has two active facilities from which it prints money today.
  1. Gambling generates more revenue each year than movies, spectator sports, theme parks, cruise ships and recorded music combined. Gambling is a $34.6 billion per year industry.
  1. 94% of all bills are contaminated with bacteria. Although only about 7% of these germs may be hazardous to your health, they do include pathogens that can cause pneumonia, staph infections, and the flu. (The flu virus can survive on a dollar bill for more than 10 days.)
  1. It takes, on average, 8000 folds before a bill will tear. A $1 bill has a life expectancy of 5.9 years while a $100 bill has a life expectancy of up to 15 years.
  1. There is more Monopoly money printed every year than actual cash. The game prints about $50 billion of its currency each year.

Dayton Kettering Coin Club

  1. Only 8% of the world’s currency is actual physical money. The rest is digital money that exists only on computers.
Sunday, December 18th, 2016 Uncategorized Comments Off on Weird Money Facts