Numismatic News February 27, 2024

The COMEX futures market close on Wednesday, February 7 was about $901.00. That was its lowest close since it settled at $892.00 on Aug. 15, 2017. In early Asian markets on February 8, the spot price dropped below $890.00. It is now just a few dollars higher than the price of platinum. I have previously explained that the price of palladium was destined to fall by a huge percentage from its peak COMEX close at $2,982.00 on May 4, 2021. It has now dropped 70 percent and has further to fall. The high price of palladium in recent years, especially in comparison to that of platinum, finally persuaded the auto and truck manufacturers to scale back on using palladium in catalytic converters and use more platinum instead. In these devices,…

Is there a coin show you try to attend every year? Why or why not? The F.U.N. show. I believe it’s the finest, best-run show in the country. At one time or another, I’ve been to all the major shows at least once. The F.U.N show just suits me. The show is so large you can’t do it justice in one day. This is the show I attempt to attend every year. I also like the Central States show and the World’s Fair of Money show outside of Chicago. Gary R Gagne Palmetto, Fla. I always attend my own club’s show held on the first Saturday in February each year. I am the treasurer of the South Hills Coin Club located in Bethel Park, Pa. This year we had over…

■ A coin dealer recently looked at my Silver American Eagle coins and said they have less value due to having milk spots. Can you explain what causes milk spots? There may be more than one reason these unsightly spots appear on the surface of some silver coins, but in general, the spots are blamed as being a result of a solution used to wash the planchets that were not fully removed prior to the heating and the striking processes. ■ Do milk spots appear on coins after they have been struck, or can milk spots appear on a coin much later? Unfortunately, milk spots can appear on a silver coin (or on an ingot) much later after the coin has left the mint. These spots have been known to…

When it comes to the Seated Liberty design on United States silver – the artwork of Mr. Christian Gobrecht – the image has to be familiar to just about every collector out there. The seated Lady Liberty has graced everything from the big, silver dollars all the way down to the tiny half dimes. For the half dimes, this design graced our silver five-cent pieces from 1837 up to the end of the half dime coinage in 1873. From 1860 to that terminal date there were some years with pretty hefty mintages, as well as some that can politely be described as staggeringly rare. Let’s peer into this final chunk of the Seated Liberty half dime series and see if a few bargains may be peering back out at us.…

The Citizens Coinage Advisory Committee (CCAC) will hold a public meeting on Tuesday, February 27 at noon EST. It is slated to conclude at 4:00 pm EST. The committee will discuss design reviews of some of the 2025 American Innovation Dollar coins and the cent and nickel designs for the 2026 semiquincentennial. Specifically, agenda topics for the meeting include: • Reviewing and discussing reverse candidate designs for the 2025 American Innovation $1 Coins, which honor innovations in Florida and Texas. • Reviewing and evaluating design options for the one-cent and five-cent 2026 Semiquincentennial coins. • Discussing potential future themes for the platinum proof coins. • Addressing any additional matters of importance Additionally, a member will take the oath of office. Any interested members of the public may watch the meeting…

Most collectors are aware that minor silver coins of the 1870s are relatively common while those of the 1880s, except for the dime, are quite scarce and difficult to find. Many explanations have been offered for this curious state of affairs, but the true beginning goes back to the early days of the Civil War. With the outbreak of hostilities in April 1861, a nervous population began to hoard the gold coinage, though slowly at first. By December, seemingly endless Union defeats on the battlefields made the citizens increasingly anxious about the future and gold was now hoarded at an increased rate. By the end of the year, paper could no longer be converted into gold at the banks. The long slide into financial anarchy had begun. Silver was the…