2-Cent Pieces were minted from 1864 to 1873. As a result of the Civil War, coins were hoarded in great numbers. In order to replace the shortage of coins, the U.S Government issued Fractional Currency Notes. At the same time, merchants were supplying store cards and other tokens for buying and trading. To ease this shortage of coins, the 2-Cent Piece approved was minted starting in 1864. This coin was the first one in the U.S. to carry the motto "In God We Trust", which can be found on the shield. The first year issue (1864) has two variations: Small Motto and Large Motto. The Small Motto 2-Cent Pieces are the rarer ones and command a higher price than the coins with the Large Motto. The last year of issue, 1873, were Proof-only issues. The 2-Cent pieces did indeed help with the coin shortage of that time and was discontinued. Today, this coin is still considered legal tender (two cents), but is worth much more than its face value!!
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5 Cents (nickels) vs. Half Dimes (taken from the Dec. issue of COINValues supplement)
Which coin is worth more--a "nickel" or a "half dime?"
The answer is--"neither." Each coin's denomination is worth exactly the same amount: five cents. So, what is the difference?
For starters, with the exception of the 35 percent silver 1942 to 1945 wartime Jefferson 5-cent coins, no other 5-cent coins issued under authority of the Mint Act of May 16, 1866, have silver as part of their composition. All half dimes are composed primarily of silver--.8924 fine silver for half dimes dated from 1794 to partway through 1837 and .900 fine silver for half dimes dated from partway through 1837 to 1873.
The Shield 5-cent coin and the Seated Liberty half dime did share some years together, from 1866 to 1873, until the U.S. Mint stopped striking half dimes altogether.
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The Winged Liberty Head Dime, known better as the Mercury Dime, has an interesting history. It made its debut in 1916, and as many newly designed coins cause some sort of stir or interpretation, the Winged Liberty Head dime was no exception. The obverse depicts the picture of a woman (the model is believed to be that of Wallace Stevens' wife, Elsie Stevens) with wings on the cap. These wings are symbolic of "liberty of thought" according to designer Adolph A. Weinman. This obverse was misconceived to represent the Roman messenger god, MERCURY. To this day, "Mercury" dime has remained a popular name for this coin.
The reverse depicts a picture of a fasces with olive branches, which is a symbol of peace. The misconception was that the fasces represented Fascism. Oddly enough, dictator Mussolini and the Fascists powers did not take place until six years after the introduction of the Mercury Dime. The use of the fasces as a symbol of power and authority was adopted by them and many other countries. Dispite these misconceptions of symbols on this dime, the Murcury Dime remains one of the most desireable and popular coins among collectors today!!
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On the weekend of August 11th, we took part in the Baltimore Coin Convention. This convention takes place three times a year and is growing tremendously in popularity by both dealers and collectors alike. This August show (the “slower” Baltimore show) boasted having at least 750-800 dealers. Normally you can count on at least 1,000 dealers in March and December. We met and spoke with many fellow dealers and hobbyists from all over the United States throughout the convention. Collectors at this show were experienced and smart and knew what they were looking for. Finding nice key and semi-key coins are still the challenge. A real highlight of the show for us was seeing our old friend Anthony Swiatek and his wonderful wife, Gloria. Anthony introduced us to new ANA president William Horton. It was an absolute pleasure talking to William and we have no doubt he will do a terrific job for the collecting community. Anthony himself was a previous ANA president. We met Anthony (he was unknown to us back then) about fifteen years ago when we took an adult course on coins with him at a local high school. Loving everything we learned from him, we enlisted two more times and we became fast friends. It was his enthusiasm and knowledge in this hobby that inspired us to take coin collecting to the next level. Through today, we consider Anthony Swiatek our dear friend and mentor.
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"INITIAL RUMORS" (taken from the June, '05 COINValues supplement)
Shortly after the Roosevelt Dime was released in 1946, some in the United States noticed the initials J.S. underneath Franklin D. Roosevelt's portrait on the obverse. The Cold War was on the verge of beginning and the United States' former ally, the Soviet Union, was beginning to be seen by some as the possible adversary. Rumors quickly circulated that the initials J.S. stood for Joseph Stalin, the ruthless dictator of the Soviet Union. According to the rumors, the United States, during one of the last meetings of the Allies near the end of World War II, had agreed to place Stalin's initials on the coin.
In reality, the initials were those of John Sinnock, chief engraver of the U.S. Mint and designer of the coin.
The rumors got so out of hand that Treasury officials responded to them and explained the origin of the letters.
When the Franklin Half Dollar was introduced in 1948, also bearing designs by Sinnock, it too bore Sinnock's initials. On the half dollar, however, Sinnock added his middle initial, presumably to ward off future rumors; the initials appear as J.R.S.
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"THE 1955 DOUBLED DIE CENT AND A KILLER HURRICANE" (taken from the April COINValues supplement)
A killer hurricane played a role in the release of the famous 1955 Lincoln, Doubled Die cent.
The famous and valuable 1955 Doubled Die cent was struck from an obverse die (the heads side) that bears strongly doubled images of the date, "LIBERTY" and "IN GOD WE TRUST". The doubling is the result of a mishap in the manufacture of the die. All coins struck from the "doubled die" bear identical doubling.
Amazingly, Mint officials inspecting the coins during a midnight to 8 a.m. shift at the Philadelphia Mint caught the doubling on the cents before they shipped them to the Federal Reseve Bank. Fortunately for the collectors, because there was a shortage of cents caused by the recent Hurricane Diane and because the 20,000 or so doubled die cents had been mixed in with that shift's other 10 million freshly minted cents, Mint officials released the coins rather than melting an entire shift's production.
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The definition of "question" is: "something that is asked, as in seeking to learn or in testing another's knowledge." During the many coin shows we have taken part in, we have met many new people who have "come back" to or have newly entered the hobby of coin collecting. And, boy, do they have a lot of questions. All are seeking to advance their knowledge within the hobby. The questions range from "where do I start?" to "what is the grading system for coins?" Our more seasoned friends have more specific questions that can require quite a conversation to cover the information. But whether the questions are simple or more intricate, they all result in learning more about our great hobby. We love engaging in conversation on all aspects of the hobby. And believe us when we tell you that we have learned quite a bit from our friends over the years as well. Nothing is more rewarding than asking the questions, learning the answers, and putting that knowledge to work. Next to "buying the book", this is equally as important. So, keep asking those questions. You can never learn too much!!!
HAVE FUN WITH NUMISMATICS.......Lorraine and Tony
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"RAW" coins or "SLABBED" coins...that is the question. We have had countless conversations with our customers concerning this very subject. In the end, it always comes down to personal preference. Some collectors love buying raw coins to be able to hold them, or to put them into special holders or coin books to fill a specific collection. Others enjoy the confidence of buying a coin that has been guaranteed a certain grade and/or authenticity by a third party. This can especially be comforting when buying "key" coins or better date coins. Either way, it is important for a collector to educate themselves in the art of grading. No matter how scientific grading may seem, it very often comes down to individual subjectivity. What may be beautiful to me, may not be to you. Eye appeal is in the eye of the beholder!!
Two excellent books on grading are: Photograde, and Official ANA Grading Standards for United States Coins. Both books describe and illustrate the grading techniques. Naturally, the more coins you look at, the more you can apply what you have read and learned. If you are looking for a "key" or rare coins, a slabbed coin can assure authenticity. A coin dealer you have dealt with and trust can also provide you with a confidence as well. Be selective. Learn to grade. Look at a lot of coins. Enjoy the hobby!!
Happy Collecting. Take care....Lorraine and Tony
