Coins and Currency Weekly
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Coins and Currency Weekly(c) is Published by Alan Cohen
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May 16, 1999
Issue #17

Collector Auction Site
Visit the new Collector Auction site at: http://www.cardmall.com/auction
Coins and Currency are one of the featured categories. There is no cost to start your own auction, or bid in someone else’s. Also, you could win a $10 prize just for registering. Visit the site for details

Mint sells quarters by the bag
If you are as annoyed as me at dealers selling rolls of the new state quarters at very inflated prices, you will be glad to hear that the US Mint is now selling these quarters by the bag of 100 or 1,000 for face value plus shipping ($29.95 for the 100 coin bag, and $289.95 for the 1,000 coin bag) - This is pretty reasonable considering the cost to ship items, plus you are getting them straight from the source. Currently, Delaware quarters are available, but others will be made available in the future. Visit the US Mint at http://www.usmint.gov

New Quarters in circulation
Since the last newsletter, I have finally received my first two Delaware quarters in an actual transaction, including one from a vending machine. Even though I have a couple of rolls, I was excited to actually receive one in circulation. I have noticed more people looking at their change, I think they are doing their job in attracting new people to the hobby

Quarter Giveaway Results
Five people won in this contest. Their names will have to be published in a future issue, as they are not in front of me as I write. However, all should have received their prize by now.

New Dollar Coin
The final design has now been selected, and is available for viewing on the Mint's web site as well. The direct web address to view this is at: http://www.usmint.gov/dollarcoin/winner.cfm - While I would have liked to have seen The Statue of Liberty on a dollar coin, I have to admit I find this design attractive, and look forward t seeing these in circulation next year.

Treasury Secretary Resigns
Robert Rubin, Secretary of the Treasury, resigned this past week. The impact will be a new date for US currency. We may also see a redesign of the $100 bill, to have one corner with large print like the $50 and $20 bills. This will make it easier for visually impaired people to see the denomination.

PRESS RELEASES

Gold Coin Commemorates Washington
WASHINGTON (AP) - A gold coin commemorating the 200th anniversary of George Washington's death in 1799 was offered for sale Friday.
Some proceeds from sale of the coin will help payo for preservation of the first president's former home at Mount Vernon, Va., near the nation's capital.
The design of the $5 gold coin resembles that of traditional quarters, with a profile of Washington on the heads side and the heraldic American eagle on the tails side.
However, the American eagle on the commemorative coin is rendered in more detail, with wings spread wider, than on quarters. Plus, the portrait of Washington on the new gold coin is taken from a never-used 1931 design by American sculptor Laura Gardin Fraser. In it, Washington faces right, instead of left.
On quarters minted starting this year, new designs commemorating each of the 50 states are replacing the eagle.
A maximum 100,000 of the special 90 percent gold, 10 percent alloy Washington coins will be produced and offered for sale by the U.S. Mint at prices starting at $180 each.
Under terms of legislation passed by Congress, the Mount Vernon Ladies Association, which owns and maintains the Virginia home that was in Washington's family for seven generations, will receive $35 from each commemorative coin sold.
The Washington $5 gold piece is one of two commemorative coins the mint will issue this year. The other is a silver dollar honoring Dolley Madison, wife of the fourth president.

Consumers Warned About Gold coins
WASHINGTON (AP) - If consumers believe they should buy gold or silver coins to protect themselves against possible Year 2000 problems, they should be well informed before doing so, groups representing coin and paper money experts are warning.
Lawmakers and federal regulators have been warning the public to be wary of new investment scams playing on fears that banks won't be able to handle the millennial date change. Some con artists have tried to persuade people to take their money out of banks to avoid computer foulups, then turn it over to be invested with them in gold, silver, small-company stocks or other assets.
The trade groups said Monday that potential investors in coins should be aware of three key factors: the cost per ounce of precious metals, the delivery time for the coins and the difference between bullion value and collector value.
The value of bullion coins fluctuates in tandem with gold or silver prices, while collector coins have an additional value based on historical supply and demand.
``If you don't know your bullion coins, you'd better know your bullion coin dealer,'' said Richard Schwary, president of the Professional Numismatists Guild.
He noted that guild members, who study and collect coins, must follow a code of ethics and agree to binding arbitration to settle disputes with customers.
The group issued an advisory along with the American Numismatic Association and the Industry Council for Tangible Assets, whose members are experts on paper money.
Schwary said American Eagle coins generally have higher retail prices than comparable Canadian Maple Leaf coins or South African Krugerrands.
He said some older U.S. coins may be readily available in circulated condition for a ``modest'' premium over the value of their gold or silver content, but the same coins in pristine condition may have a significantly higher value, sometimes thousands of dollars more.
If immediate delivery of coins is not possible once you have bought them, Schwary advised, get specific confirmation of the delivery date in writing from the seller.
Increased demand has caused the U.S. Mint and its distributors to have delays in delivering coins, and retail buyers may encounter delays of several weeks or more, he said.

Clinton Awards Honor to Rosa Parks
WASHINGTON (AP) - President Clinton authorized giving civil rights heroine Rosa Parks a Congressional Gold Medal.
Clinton signed a bill Tuesday bestowing Congress' highest recognition on the 86-year-old Parks, whose refusal more than four decades ago to give up her seat to a white man in Montgomery, Ala., inspired civil rights advocates across the country.
``Her act that December day was, in itself, a simple one; but it required uncommon courage,'' the president said in a statement. ``It was a ringing rebuke to those who denied the dignity and restricted the rights of African-Americans.''
The arrest in December 1955 of Parks set off a lengthy bus boycott led by Martin Luther King Jr. and provoked a Supreme Court challenge to Montgomery's segregation law.
``Rosa Parks' short bus trip, and all the distances she has traveled in the years since, have brought the American people ever closer to the promised land that we know it can truly be,'' Clinton said.
Until Next Time,
Alan Cohen

Distribution Coins and Currency Weekly(c) (CCW) is published by Alan Cohen. It is a weekly newsletter devoted to coins and currency - Current news, viewpoints, and other collecting information. This newsletter is distributed free of charge, and available two ways. 1) On-Line on the World Wide Web. The address is: http://www.coinmall.com/ccw - All back issues are archived at the web site. 2) Direct e-mail. Send a message to: ccw@coinmall.com If you wish to unsubscribe from CCW, you need to send a message to the following address: ccw-request@ListService.net In the Body of the Message: address, just type UNSUBSCRIBE