Letters to the Editor (July 17, 2018)
Stick with real coin dealers when buying coins
On the subject of counterfeit, Chinese-made Morgan dollars online, a reader asked why someone would bother to counterfeit a $30 coin. They would do this because the profit margin, expressed as a percentage of selling price, is so high. The coins probably cost them next to nothing, less than if they were selling a genuine coin. I could never understand why anyone would buy a raw coin on an online auction site. Before online auction sites, no one would buy a raw coin sight unseen from a total stranger; now, people think it is great. If someone told you that a certain retail store in your neighborhood was selling counterfeit Rolex watches and counterfeit Coach purses, and you went in there anyway hoping to buy a real Rolex watch or a real Coach purse cheap, and you got burned, it would be your own fault.
Stick to buying your coins from real coin dealers, or stick with certified coins. If there is no demand for counterfeit coins, they will disappear.
Half dollar roll searching rewarded with old silver
The other day, I was at my credit union making a deposit. I always ask if they have halves. Their coin machine doesn’t accept them, so they are always brought to the counter. The teller told me they did and asked how many do I want. My reply was “all of them,” thinking they couldn’t have that many. After she went back to the vault, I was surprised when she came back with an unopened box of $500. I took them home, searched them and came up with a Mint State 1967 and a nice 2017 with the high relief. Satisfied, I took them to another bank I belong to and cashed them in so I could return my $499 to my savings account at the credit union.
I was in a different part of town for my deposit, so I asked them if they had any halves. She said she had exactly $520 worth. Intrigued by the extra $20, I asked for all of them again. This time they were all hand rolled, which is usually more promising for finds than bank rolled.
In the first $200, each roll had one 40 percent silver. It equaled one full roll of 40 percent.
The next roll I dropped into the palm of my hand. They were all Walkers, Franklins and a couple 1964 Kennedys. I was so excited I was shaking. The oldest Walker was a well-worn 1918.
The remaining $300 yielded no more silver.
So two rolls of silver total. Best find of my life from a bank.
Other countries made coins as beautiful as Saints
What coins from other countries do you (the reader) consider to be as beautiful as the Saint-Gaudens $20 gold, or the Winged Liberty head dime design?
I’ll ante up first with the 1954 French 100 francs.
Mint doesn’t make it easy for World War I set buyer
I read with interest your comments about the U.S. Mint and the crazy things they do to collectors.
I have been a U.S. Mint customer for many years and even buy their over-priced products because most are very well done.
Now my gripe.
I ordered the proof and uncirculated WW I silver dollars and two medal sets. The dollars were shipped in January, and my credit card properly charged. Recently a friend in my coin club told me he received his medal sets recently. However, I did not receive mine. So I called customer service at the U.S. Mint. They said my order was on hold because of a credit problem. They said my card was not valid (although they had charged my card OK earlier). They could have informed me there was a problem instead of me calling them. So I gave them my card info, and the two coin/medal sets arrived a week later.
When I received the two sets I ordered, one set did not have a sleeve covering the set inside. So I called customer service and, after being on hold for 15 minutes, the person told me to return the whole set for another. I told him all I wanted was a sleeve, which could be sent in a regular envelope for 50 cents and I would be happy. No. I have to send back the whole thing at my expense at about $6.50. So I kept the set and did not return it. So now my set does not have a cover sleeve. Oh well.
Silver dimes in bank bags not as numerous as before
Hey Dave. I’ve been going through dime bags/boxes from local banks in my area and have noticed the declining rate of finds. It was about six/$500 but it is now down to four on average. I do 4K a week. I look for just the silver. Sometimes I’ll get more foreign than U.S. silver. Best find was a gold $2.50 Indian. Many of the banks now have coin counters, which makes returns difficult. Sometimes they are broken in my favor. But that’s a story for another day.
Thanks to hosts of paper money show in Kansas City
On behalf of the American Numismatic Association, we want to thank Lyn Knight and Doug Davis for providing a free table for the ANA at their 42nd Annual International Paper Money Show on June 7-10 at the Sheraton Crown Center Hotel in Kansas City, Mo.
It is always great when the show and hosting hotel are in the same complex. The Sheraton is an outstanding hotel with a well-lit and very adequate convention center. The nearby Crown Center is walking distance away and will have many things for you to do.
Another feature of this show is the nearby home of the Tenth Federal Reserve Bank Headquarters. Just to see a sheet of $100,000 notes makes the trip there very worthwhile.
We were able to sign up or renew 16 members for the Association and handed out dozens of The Numismatist along with other numismatic literature and information. We were able to receive two 501(c)(3) donations from two individuals for the shipment of the coin show kit.
John and Nancy Wilson
This article was originally printed in Numismatic News. >> Subscribe today.
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