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ANA Blog

30 Aug

Always Take Physical Delivery of Purchased Precious Metals!

Stocks & Bonds | Mike Ellis

For those of you who know me, especially if you know me well, my most oft quoted numismatic statement is, "Never, ever buy coins off of television!" My second most oft quoted numismatic statement is "When purchasing bullion, always take physical delivery!" Sorry folks but holding precious metals, that includes coins, on paper is just plain foolish. If you want any precious metals to be part of your IRA, make that the IRA of a safe deposit box at the bank or your own immobile vault! Never hold it on paper!Why? Check out this story: www.coinweek.com/bullion-report/merit-gold-silver-longer-accepting-bullion-orders/ . I am certain this is just one of many such stories coming. And it is not the first time this has happened. To my knowledge, precious metal pushers have been scamming people out of their hard earned money forever, especially since the early 1980s, again in the early 1990s and apparently now it is going to start up again. Every time there is a run up of values in precious metals it has been followed by a crash where prices settle back where they were or even lower than they were before parts of the run up. It has not been so obvious this time around and it may never again fall much below where it is now but, it is much lower than the record prices were just a short time ago. Plenty of people have lost lots of money and now some are beginning to lose it all that was on paper. Some have made money as well but they usually know what they are doing and are often those who sell it on paper and then disappear!I am just trying to share fair warning. Do not let history repeat itself with you being the victim this time!

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30 Aug

What Makes a Coin Collector Do Back Flips?

Coins - United States | coinsbygary

I love type collecting, my ultimate goal is to complete a Dansco 7070 type set with affordable, yet attractive coins. I also collect a type set of coins struck at every US mint with the exception of the mint in Manila when the Philippines was under US sovereignty. One of these days I'm going to have to buy a coin minted at the Manila Mint for my collection.

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30 Aug

Increasing the Nickel

Coins-United States | Yemrot

The nickel, previously, was three cents, and called a trime. The trime was minted during 1851-1873 in two different compositions. The first was metal was silver, silver being such a valuable and precious made three cents worth a very small amount. People would frequently lose such a small coin. The silver trime's weight was only 0.8 grams and the diameter 14mm. Changes were on the horizon for the coin when congress got and approved a proposal from Joseph Wharton, owner of the majority of nickel mines in the United States. Wharton's proposal called for a larger, thicker trime made of a copper-nickel composition. The new trime was 75% copper and 25% nickel started being produced in 1865. The new copper-nickel trime weighed 1.94 grams and had a diameter of 17.9mm. Later, in 1866, congress then felt comfortable to reintroduce the 5 cent nickel, with the same copper-nickel composition although increasing the diameter to 21.21mm, the weight to 5 grams and thickness to 1.79mm. All of those characteristic are what the current nickel is composed of.

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29 Aug

Crum donates $50,000 to ANA website project

World's Fair of Money | ANA Official Post | jfletcher

Adam Crum, owner of Monaco Rare Coins, donated $50,000 to the American Numismatic Association on Saturday, Aug. 9, the final day of the 2014 World's Fair ofMoneySMin Rosemont, Illinois. Accepting on behalf of the ANA was Executive Director KimKiick.

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28 Aug

Little to do about coins

| Cmower

Well, when I first started dealing with any kinds of coins it was just silver, .999 good ole bullion. It was a good gateway drug, if you will, into bigger and better things. A lengthy story short, I was walking out of the local jewelers when I noticed under the counter, a row of Morgan silver dollars. I looked down the row and I choose the first 1878 I saw (I figured it was still 90%) and picked it up with my grandfathers help. I never intended to start dabbling in numismatics, even then I just thought it was a cool piece but, the longer I was staring at it, the longer it started creeping into my mind and I wanted another one. As any good addiction story goes, that's when it was all down hill from there.

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28 Aug

RCNA's 60th Anniversary Convention Features Active Involvement of ANA

World's Fair of Money | ANA Official Post | Jake Sherlock

The American Numismatic Association was well represented in the activities of the 60th anniversary convention of the Royal Canadian Numismatic Association held in Toronto, Ontario, on August 13-16, 2014. Leading the delegation from the ANA, in keeping with this year's joint ANA/RCNA "Hands Across the Border" promotion, was president Walter Ostromecki from California.

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28 Aug

Links to some of our publications on Numismatic News

| Grove Minting Company

Numismatic News is a great publication regarding insightful discussion based around this hobby and industry. I've had a few discussions with their team regarding trends, history, and the constant evolution of coins and collectors. Linked below are two publications of their newsletter from last year, in reference of those topics, which I'd like to share.http://www.numismaticnews.net/article/this-weeks-letters-120313(Third letter from the top titled "Viewpoint")http://www.numismaticnews.net/article/silver-round-bears-barber-design(Write-up regarding one of William Barber's pattern designs)Between Numismatic News, The Numismatist, and Coin World, one can always find something new to learn in this field!

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