Royal Canadian Mint Unveils Silver Collector Coin Honouring The Franklin Expedition!

HALIFAX, July 22, 2015 /CNW/ - One hundred and seventy years after Sir John Franklin and his crew set sail from England aboard HMS Terror and HMS Erebus on a journey from which they would never return, a new silver collector coin tells the unforgettable story of the famed Franklin Expedition, whose tragic loss of all men and their ships in Arctic waters have left an indelible mark on Canadian and maritime history.  

The coin was unveiled today at the Maritime Museum of the Atlantic in Halifax, Nova Scotia at a ceremony which included the launch of commemorative Franklin Expedition stamps by Canada Post Corporation. 

 

Second issue from the Mint's "Lost Ships in Canadian Waters" series captures the wonder and danger of Arctic exploration in the 19th century

"The Franklin Expedition is a very important event in Canadian history which laid the foundations of Canada's Arctic sovereignty nearly two centuries ago," said the Honourable Peter MacKay, Minister of Justice and Attorney General. 

"The Royal Canadian Mint's new commemorative silver coin is a poignant and beautifully crafted reminder of the vision, bravery and sacrifice needed to explore Canada's Arctic and to protect the true north, strong and free, as a cherished part of our nation."

"Canadians are familiar with stories of daring exploits in Canada's Arctic but few stand out as sharply as the Franklin Expedition and the loss of its crew and ships during their ill-fated search for the Northwest Passage," said Sandra Hanington, President and CEO of the Royal Canadian Mint. 

"The Mint is proud to honour the brave men who took part in the historic Franklin Expedition on a finely crafted silver coin which will preserve their memory as intrepid explorers of Canada's North."

Designed by noted Canadian maritime artist John Horton, the second coin in the $20 Fine Silver "Lost Ships in Canadian Waters" series pays tribute to the Franklin Expedition with an elegant illustration of HMS Terror and HMS Erebus navigating the icy waters of the Arctic Ocean. 

This meticulously coloured 99.99% pure silver coin shows HMS Erebus in the foreground, whose 2014 discovery by Canada's Victoria Strait Expedition is one of the century's greatest achievements in maritime archeology. 

The words "H.M.S. Erebus" and "H.M.S. Terror" are also engraved along the coin's edge.  Retailing for $109.95, it is limited to a world-wide mintage of 7,000.  

http://www.newswire.ca/en/story/1574047/royal-canadian-mint-unveils-silver-collector-coin-honouring-the-franklin-expedition

Will The American Liberty High Relief Gold Coin Be A Success?

On July 30 the Mint will launch the $100 high relief gold American Liberty coin, which could eventually become one of the most important issues of the modern era in U.S. coins if it is a success.

That is because it will be both the first modern, high relief coin with a new design, and the first to portray a modern version of Lady Liberty, which is symbolically significant.

This coin is largely the brainchild of Gary Marks, who recently completed his term as chairman of the Citizens Coinage Advisory Commission, and the CCAC under his tutelage. 

Marks has been a strong advocate of the argument that American coins should not just reuse the classic designs of the past, and that they should push the envelope of medallic art by depicting a modern representation of Liberty which reflects the diversity of our country.

The new coin is intended to continue the vision that former U.S. Mint Director Ed Moy pursued with the very popular 2009 ultra high relief double eagle.  But that coin was released when gold was much less expensive and had an initial issue price of $1,189.  It was made to demand and over the course of a year 114,427 of them were sold.

Most serious coin collectors continue to have a strong preference for the classic designs, which is the main reason the 2009 coin did so well.  Reactions to the images the Mint released recently of the 2015 coin are encouraging, but the real proof will come when buyers see the coin in hand.

In addition, the 2009 coin came in the most luxurious presentation box the Mint has ever used, while the 2015 coin will be sold in a regular black velvet presentation case like those for gold commemoratives.  

With a premium that is at least $400 over the gold value, and a price that is $50 higher than other one-ounce gold numismatic coins from the Mint, buyers expected a nicer box.

The cancellation of the companion silver medal of the same design is also unfortunate, as many buyers either wanted to pair them up, or planned to buy the silver medal because they are not able to purchase the gold coin.  Hopefully the medal will be issued next year.

Many people are very cautious about buying gold coins when the spot price of gold is declining by the day.  If purchasing low-premium gold bullion, that probably represents a good buying opportunity, but when a coin has a premium of about 40% over its gold value, the coin has to be something really special.  

The 2014 American Buffalo reverse proof gold coin sold 47,836 coins but had the advantage of the most popular of all classic designs and is part of an established series with an existing base of collectors.   

It would also help if the coin were the first in a new series as originally intended, but the Mint cancelled the plan to do that, and no rationale for doing so was provided when I asked them about it.  Collectors tend to be wary of expensive one-off coins, which they see as a risky choice. 

Another factor is that collectors with limited budgets are saving their funds for the 2016 centennial dime, quarter, and half dollars in gold with classic designs. 

Perhaps enough buyers will be stunned by the coin that it eventually sells the full 50,000 maximum mintage.  And hopefully a good number of coins will be available when the coin is launched online, as long back orders will turn off buyers.

Ultimately, the coin will be a success if future buyers want it, and if it influences the future direction of American coin design as more modern Liberty coins are produced, which was its main purpose. 

http://www.coinworld.com/voices/louis-golino/2015/07/will_the_americanli.html#

Garrett-Kaselitz Coin & 1838-O Liberty Seated Dimes In General!

The 1838-O dime is an inaugural issue of the New Orleans Mint and is the only Branch Mint representative of the first design type of Liberty Seated Dimes, without stars. 

On Friday, Stack’s-Bowers will auction a PCGS graded Extremely Fine-45 1838-O, which is CAC approved. This 1838-O was formerly in the Garrett Family Collection and is now in the collection of the late Douglas Kaselitz.

The Garrett-Kaselitz 1838-O is relatively affordable, given its eye appeal, pedigree, scarcity and historical significance. Indeed, it is a wonderful coin that will cost much less than many higher quality, similar coins from the same era.

Last week, the focus was on the Kaselitz gem quality 1831 quarter and general information about the Kaselitz Collection was provided. 

This week, Stack’s-Bowers is auctioning an assortment of coins from many different consignors at the Baltimore Convention Center. Most of the coins in the Kaselitz Collection, including this 1838-O, will be sold during Friday night.

http://www.coinweek.com/expert-columns/greg-reynolds-classic-rarities/garrett-kaselitz-coin-and-1838-o-liberty-seated-dimes-in-general/

Mongolbank Issues Khubilai Khaan’s Silver Coin!

This year marks the 800th anniversary of the birth of Khubilai Khaan. In connection with this event, The Central Bank of Mongolia or Mongolbank has issued a commemorative silver coin of Khubilai Khaan. 

According to historical sources, the fifth Khaan of the Great Mongolian Empire Khubilai was born in autumn of 1215.  The silver coin that costs 10 thousand tugrics has a diameter of 38 millimeters and weighs 25 grams. 

The new coin for Khubilai Khaan was issued with an aim to advertize our country’s history and culture as well as to add new item to people’s collections. A year ago Bank of Mongolia has issued golden coin with image of Chinggis Khan, while silver coin with Chinggis Khan was issued several years ago. 

Golden coin with image of Uguudei Khan was made in very few numbers by an order of a private company. By the way, the Mongolbank is planning to issue more silver coins with the images of all 37 Great Khaans of Mongolian Empire in the coming years. 

The official opening ceremony for the Khubilai Khaan’s coin will take place next Monday.

http://en.montsame.mn/index.php?option=com_allvideoshare&view=video&slg=mongolbank-issues-khubilai-khaan-s-silver-coin&orderby=latest

US MInt Runs Out Of Silver Coins!

The U.S. Mint said on Tuesday it temporarily sold out of its popular 2015 American Eagle silver bullion coins due to a "significant" increase in demand, the latest sign plunging prices have spurred a resurgence of retail buying.

In a statement sent to its biggest U.S. wholesalers, the Mint said its facility in West Point, New York, continues to produce coins and expects to resume sales in about two weeks.

This is the second time the mint has sold out of silver coins in the past nine months - it ran out of 2014-dated American Eagles in November last year.

In 2013, the historic drop in precious metals prices unleashed a surge in global demand for coins, forcing the mint to ration silver coin sales for 18 months.

Dealers attributed the recent rush to purchase silver coins and bars to its low price relative to gold.

The gold-silver ratio was "way out of whack", said Jon Edelman, owner of Edelman's Coins in Jenkintown, PA.

"That was a sign that silver was too low and people started buying. People view it as an opportunity in the long run."

On Tuesday, one ounce of gold would buy as much as 78 ounces of silver, which is historically a very wide spread.

It's not clear if Tuesday's rout had spurred a fresh round of spot buying, but demand has been healthy in recent months.

Sharp breaks in gold and silver prices typically boost buying among collectors and other retail investors, whose buying habits are sensitive to price moves.

Due to its greater affordability, silver sales tend to outstrip gold in volume terms and attract a lot more retail buyers.

Last month, coin sales surged to 4.84 million ounces, the highest since January and more than double the 2 million ounces sold a month earlier.

On Tuesday, spot silver prices sank almost 7 percent to $14.65 per ounce, the lowest for the year as the dollar climbed and amid a broader exodus of cash from commodities. (Reporting by Josephine Mason; additional reporting by Marcy Nicholson; Editing by Jeffrey Benkoe and Christian Plumb)

http://www.mineweb.com/news/silver/us-mint-runs-out-of-silver-coins-on-strong-demand/

Finnish Design!

Certain national mints have a history of innovation. The Mint of Finland (Suomen Rahapaja) is today among the most progressive in the world, with its propitious output of Euro commemoratives scoring highly in novelty and attractiveness. 

Finland 10 Markkaa Featuring President Paasikivi

It turns out that Finland has an exemplary record in coin design.   A quick glance at Finnish commemoratives from the 1960s through 1980s (when, let’s face it, drabness was in vogue) showcases a design strategy situated between the resigned predictability from days of yore and the profane postmodernism of the present. 

Indeed, what Finland produced during these years is nothing short of remarkable. 

Finnish non-circulating commemoratives from the mid-1960s to mid-1980s are divided into three denominations; 10 Markkaa (1967-1977), 25 Markkaa (1978), and 50 Markkaa (1978-1985). There is no uniformity in size, silver content, or actual silver weight, and diameters range between 30mm-37mm. 

However, it’s the design of these coins, not their metrics, which makes them memorable. In addition, they remain highly affordable. Two in particular stand out:

In 1970, Finland released a 10 Markkaa coin (.500 Ag, 22.75g, 35mm) honoring the 100th anniversary of the birth of President J.K. Paasikivi, the architect of Finland’s delicate Cold War balance between the United States and neighboring Soviet Union. 

Rather than utilizing a traditional busted portrait, Heikki Häiväoja’s engraving features Paasikivi’s bespectacled, wrinkled face staring straight ahead, almost sleepily. The borderless design accentuates the president’s gloomy face. 

The typically aggrandized European portrait coin—always compensating for physical and political blemishes—takes on a patina of authenticity in this Finnish issue. 

The coin’s textured reverse adds to its realness factor, with the year, denomination, and country name etched into an unevenly mortared brick wall.  You can see the coin here: http://www.ngccoin.com/price-guide/world/finland-10-markkaa-km-51-1970-cuid-19350-duid-61150

In 1978, the World Skiing Championships were held in Lahti, a popular sports destination about 60 miles northeast of Helsinki. To commemorate the event, the mint issued a 25 Markkaa silver coin (.500 Ag, 26.3g, 37mm); and once again, the progressive design of the coin is a striking example of Finnish numismatic ingenuity. 

The coin’s obverse features a cross-country skier trekking her/his way through the snow. On the reverse (this is the more inventive side) we see the tracks left by the skier in the powdery snow atop gently rolling hills. 

The gradual decline in the size and visibility of the path from the 6’oclock to the 12’oclock position creates a sense of distance while the fractured path of the skier—broken by the inclines and declines of the hills—establishes a stationary perspective based on our optometric limitations. 

The result is a stunning 3D-like image with an almost palpable crackling of the snow below and whipping of the winds above. You can see the coin here: http://www.ngccoin.com/price-guide/world/finland-25-markkaa-km-56-1978-cuid-19370-duid-61203      

History has something to do with this. Wedged between its two more conformist neighbors (Sweden and Russia), and lacking a homegrown monarchical tradition (again, Sweden and Russia provided these), 

Finland has more ably thrown off the shackles of its less-weighty top-down customs (once more, compared to Sweden and Russia). 

Folkish ideas and an unfettered social democratization have taken root in Finland. These wonderful coins demonstrate this phenomenon. The rest of the world is still trying to catch up.   

http://www.coinworld.com/voices/kevin-goldberg/2015/07/finnish_design.html

Princess Charlotte’s Commemorative Christening Coin Unveiled By Royal Mint!

This Sunday, 5 July, will be the christening for the Duke and Duchess of Cambridge’s second child, Princess Charlotte. In honour the of the occasion, the Royal Mint has unveiled a special coin. 

The event is being marked with a silver £5 coin featuring two harp-playing cherubs surrounded by lilies.

The Royal Mint also released a commemorative £5 coin for the birth of Princess Charlotte. The Queen, The Duke and Duchess of Cambridge and Chancellor of the Exchequer, George Osborne all approved the limited edition coin. Only 500 gold coins and 9500 silver coins were produced.

Fellow babies born on the birth date of Princess Charlotte, 2 May, were eligible to receive a special silver penny from the Royal Mint.

“It is only fitting that we commemorate the new addition to The Royal Family with the release of a special coin, just as we celebrated the arrival of Prince George.” spoke Shane Bissett from the Royal Mint about the £5 coins.

The christening will be held at the Church of St Mary Magdalene in Sandringham, Norfolk. With the Duke and Duchess of Cambridge, Prince George and Princess Charlotte all in attendance it will be the first time the family will all be seen together.

The Church is the same one that Princess Charlotte’s late grandmother, Diana, Princess of Wales was baptised in August of 1961. It has been 25 years since a senior royal has been baptised there, with Princess Eugenie holding that title.

The Archbishop of Canterbury Justin Welby at St Mary Magdalene Church will be christening the two-month old princess.

http://royalcentral.co.uk/cambridges/princess-charlottes-commemorative-christening-coin-unveiled-by-royal-mint-50735