Welcome to Coin Update!
We’re back to bring you another round up of the latest coin collecting news and articles from around the internet! First, testimony from the Director of the United States Mint reveals the possibility for 2010 Proof Silver Eagles. Also, flaws with the US Mint’s precious metals blank procurement, 2010 Proof Set release, State Quarters surplus, new 1099 reporting requirements, Great Britons coins, BEP engraver profile, NY Federal Reserve gold vault, emerging industrial uses for silver, and notable auctions. On to the links…
Testimony delivered to a House Subcommittee by United States Mint Director Edmund Moy has revealed that a change in law is being considered, which would allow the production of 2010 Proof Silver Eagles. If the law is amended, the production of collector coins would be allowed even if full demand is not being met for the bullion version of the coin.
The separate testimony explained the flaws and inefficiencies with the US Mint’s procurement procedure for precious metals bullion blanks. Apparently there is plenty of gold, silver, and platinum raw material, but the Mint has difficulty getting this fabricated into planchets.
The next product release from the United States Mint will be the 2010 Proof Set. Compared to last year’s set, the number of coins declines from 18 to 14 and the price increases from $29.95 to $31.95.
The latest weekly sales report includes the debut figures for the 2010 Mint Set, which went on sale last week.
Dave Harper explores the extent of the extra production during the 50 State Quarters Program. Will the surplus quarters returning to circulation suppress production for the next 13.6 years?
The story about the new 1099 reporting requirements for purchases of goods and services over $600 per year goes mainstream in this article from ABC News. Coin Update News contributor Patrick Heller, who was interviewed for the article previously warned about possible identity theft resulting from the new 1099 law.
The British Royal Mint is asking the public to decide who should be featured on the next Great Britons commemorative coin. Candidates include Sir Walter Raleigh, Jane Austen, and John Lennon.
A brief profile of Thomas Hipschen, who worked at the Bureau of Engraving and Printing for 38 years as a banknote picture engraver.
The author of Coin Collector’s Blog is the featured collector in the July/August 2010 issue of the Saturday Evening Post.
A CNET reporter tries to get a look at the New York Federal Reserve Bank’s gold vault, which contains about $255 billion in gold.
Is the price of silver set to surge? The article explains silver’s status as both precious metal and industrial metal, and describes some emerging industrial uses that may serve as growth areas.
And now for some notable auctions. First, the 1997 Jackie Robinson Commemorative 4 Coin Set, which includes the low mintage uncirculated $5 gold coin.
Next, a 1999-D Delaware State Quarter struck on a 5c planchet. The error coin has been authenticated by PCGS, but did not receive a numerical grade due to surface distractions.
Last, the low mintage 1935 Old Spanish Trail Half Dollar graded PCGS MS67.
That’s it for this update. See you next time!
If the mint does produce the 2010 Silver Eagle Proof. Ask the mint to correct the spelling of the word UNITED, Using the upper case U when spelling UNITED, rather than the [illegal], lower case u being used now, without requesting a change through Congress?? The type of U presently being used is only used when printing using Calligraphy.