June 12, 2009: US Mint Sold Out Products, Joy of Coin Collecting, Early US Gold Coins

Welcome back to Coin Update!

Here comes one final round up of coin collecting news to take you into the weekend. Doesn’t it seem like every time gold is on the verge of a breakout, the price experiences a two week rout? Also, two somewhat strange sell outs at the US Mint, US Mint employees and their lunch break, counterfeit First Spouse Gold Coins, Forbes on the Royal British Mint, 1895 Morgan Dollar, more on the 2009 Double Die Lincoln Cent, coin collecting as affordable recreation, early US gold, and notable auctions. On to the links…

After recently touching the $990 per ounce level, gold is on the retreat once again. This morning gold is trading around the $940 level.

The John Tyler Presidential Dollar Rolls didn’t last long for the second round of sales. After less than two days of returning for sale, they are once again sold out.

Apparently, there is such a thing as a free lunch. The US Mint recently discovered that it had been paying employees for lunch when they should not have been.

Forbes.com covers the new Henry VIII coin from the Royal British Mint. The story includes this somewhat surprising quote, “The Royal Mint’s coins, expensive as they may be, are some of the least collectable in the world.”

The Heritage Blog examines the 1895 Morgan Dollar. Although Mint records indicate 12,000 pieces were produced for circulation, none have ever turned up, which makes the 880 proof coins minted even more desirable.

Ken Potter reports on the 2009 Double Die Lincoln Cents for Numismatic News. He explains the cause of the doubling as Tilted Hub Doubling, which confines the doubling to the central area of the coin.

A refreshing article which reminds us about the joy of coin collecting, which is sometimes forgotten when coins are viewed as investments.

For anyone considering starting a collection of early US Gold Coins, here’s a Coin Link article summarizing the various types and popular ways of collecting.

And now for some notable auctions. An impressive low mintage key date, the 1909-S Lincoln Cent graded NGC MS66RD in an older style holder.

One of the highest graded circulation strike 2009 Lincoln Cents. The Formative Years Cent graded NGC MS68RD. The coin has been listed with no reserve.

More 2009 Proof Coins are coming back from the grading services. Here’s the 2009 Native American Dollar NGC PF 70 Ultra Cameo. I still think the obverse design looks strange without the date and mint mark, which were moved to the edge.

That wraps up the week. Have a great weekend!