April 20, 2012: U.S. Coin Composition, Mexican Silver Libertads, Chinese Coin Market

Welcome to Coin Update!

We’re back with one more round up of coin collecting news to finish up the week! First, coverage of the House subcommittee meeting discussing the composition of circulating U.S. coinage. Also, the 2012 Proof Gold Eagles, the sale of a 1792 silver center cent for more than $1 million, Mexican Silver Libertad bullion and proof coins, UK coinage composition, the Chinese coin market, a unique Chinese silver coin, Goldline refunds, Perth Mint news, coin market report from the Central States Convention, and notable auctions. On to the links…

Summary of the testimony delivered at the recent House subcommittee meeting on circulating U.S. coins, which in part explored the benefits of switching composition to multi-ply plated steel.

Mint News Blog coverage of the release of the 2012 Proof Gold Eagles. The maximum production levels have been reduced for four out of five ordering options.

The 1792 Silver Cent Cent sold for $1.15 million at auction. The price was reached in internet bidding, with no higher bids placed in the live auction. Here is additional coverage from the Daily Mail, ABC News, and video coverage of the live auction from CoinWeek.

An article on how Heritage Auctions (who sold the silver center cent) built an $800 million empire and became the third largest auction house in the United States.

Up next, an Islamic rarity is estimated to sell for up to £1 million in an April 23 sale of Islamic coins by Morton & Eden.

An excellent article providing background on the Mexican Silver Libertad coins, along with some big news for the 2012 releases.

NPR has a segment on the “coin-versus-bill cage match” which pits the $1 coin against the $1 bill.

In the UK, there are concerns that the new circulating coins, which are coated in pure nickel, may cause allergic reactions for some people.

A brief piece on the tour of the Money Museum at the Federal Reserve bank of Chicago.

Kent Ponterio provides some insights on the state of the Chinese coin market.

PCGS has certified the unique 1903 Fengtien Province Tael, one of the most important silver coins in Chinese numismatic history, which was insured for $5 million.

Goldline has now provided more than $4.25 million in refunds to former customers under a court injunction won by the City of Santa Monica in February.

News from the Perth Mint on an upcoming Brisbane Coin Show Special and a Coin Update News article on a new product and several products close to a sell out.

A coin market report provided in the midst of the Central States Numismatic Society Convention.

And now for some notable auctions. First, the key date 1893-S Morgan Dollar graded PCGS MS60. This is part of eBay’s Morgan Mania auction event, which features top graded Morgan Dollars from several PNG dealers.

Next, a selection of 13 different PCGS graded coins that have received a Gold CAC sticker. This indicates that the coins have exceeded CAC’s grading standards for the given grade.

That’s it for another update. Have a great weekend!

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