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COINage

COINage September 2019

COINage has been a leading name in numismatic publications. We offer a fresh perspective of numismatics for the experienced coin collector and an introduction to key concepts for the novice.

Pays:
United States
Langue:
English
Éditeur:
Beckett Collectibles Inc.
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JE M'ABONNE
16.42 CHF
12 Numéros

DANS CE NUMÉRO

1 min.
coinage

EDITORIAL MAGGIE JUDKINS Editorial Director SCOTT A. TRAVERS Executive Editor ANTOINETTE RAHN Editor EDITORIAL CORRESPONDENCE: MAGGIE JUDKINS (218) 390-6841 editor@coinagemag.com CONTRIBUTING WRITERS DONN PEARLMAN MIKE FULJENZ DAVID L. GANZ R.W. JULIAN JOSHUA MCMORROW-HERNANDEZ TOM DELOREY CRYPTOCURRENCY EDITOR JAMES PASSIN DESIGN SHAWN STIGSELL PRICE ANALYST SAM ZIMMER ADVERTISING TRACY ALVAREZ (972) 490-5212 talvarez@beckett.com PRESIDENT SANDEEP DUA FOUNDER JAMES L. MILLER…

3 min.
b.u. or beware?

Coin grading history is filled with criticism and frustration. More than a hundred years ago, some collectors wrote letters to the editor of the American Numismatic Association’s (ANA) journal, The Numismatist, complaining about coin grading. There are still gripes in the marketplace today, but the hobby has made tremendous, positive progress the past 50 years to improve grading and consistency. Grading was not the only problem. The deluge of counterfeit and altered coins in the marketplace was so bad in the 1960s and early 1970s that legendary New York City dealer John J. Ford, Jr. claimed more than half the 1916-D Winged Liberty (“Mercury”) dimes he encountered were fakes. In 1972, the ANA formally established the American Numismatic Association Certification Service (ANACS) to authenticate and grade coins. ANACS issued certificates of authenticity…

4 min.
certified u.s. gold coins rising in value faster than gold bullion

On May 8, 2019, gold traded at $1,290. Two months later, gold traded at around $1,400, up $110. In that same two-month period, MS-64 common-date $20 Liberty double eagle gold coins – graded by PCGS or NGC – rose $195 in price, and MS-64 common-date Saint-Gaudens double eagles rose by the same $195. In this two-month period, we have gone from an excess supply to a shortage. And that shortage will likely worsen since European suppliers do not make their coins available in the late summer, as they generally take a six-week vacation that starts in late July. Europe is “closed for business” during August, and that includes banks and coin dealers. So we may see prices continue to rise. DEMOCRATIC PRESIDENTIAL DEBATES FOCUS ON “SPEND, SPEND, SPEND” – BOOSTING BUDGET DEFICITS…

15 min.
grading gets its start

Editor’s Note: Thomas K. DeLorey is the industry’s authentication and grading pioneer. He played a pivotal role in founding the industry’s first third-party authentication and grading service as an employee of the American Numismatic Association. In 2019, it is hard to believe that Third Party Grading (TPG) services have been around for more than 40 years. The oldest is almost 50 years old and began as an authentication service. I had a part in its early days. The ANA Certification Service (ANACS) began operations in June of 1972, largely in response to a flood of counterfeit gold coins that had begun to appear in the U.S. coin market in the late 1950s. At the time, it was still illegal in the U.S. to possess gold in bullion form, but common pre-1934…

17 min.
history of the grading system

For those who have who been in the numismatic hobby for only 25 or 30 years, it is rather unimaginable that there was ever a period known as “BC”: Before Certification. Yet prior to the mid-1980s, there were no slabs, the popular sonically sealed, tamper-resistant plastic holders labeled with a coin’s grade and identifying information. This concept revolutionized the numismatic industry and opened the door for even more collectors, dealers, and investors to engage in trading rare coins, and often sight unseen. But that’s not all third-party graders, or TPGs, have done. They have also established a set of tight grading standards for the industry and have helped provide a greater sense of security to those who wish to trade in rare and valuable coins. A generation after TPGs built an…

3 min.
predecessor to ngc and pcgs

While PCGS and NGC are often recognized as the standard-bearers in the world of third-party coin grading, a look back at the history of TPGs would be incomplete without a look at ANACS. (See the article elsewhere in this issue written by ANACS founding grader, Thomas K. Delorey.) Founded by the American Numismatic Association in 1972, ANACS is actually the oldest third-party coin evaluation institution in the hobby. ANACS originally operated on the premise of only authenticating coins but expanded to grading by March 1979, just as a great market boom was taking shape. “ANACS had 100% market share of the grading business when it started,” says former ANA President David Ganz says. “But we competed against the marketplace and found that it really couldn’t compete.” Following the meteoric rise…