CICF to host worldwide crowd

World Coin News • April 2012
U.S. $4.99/Canada $5.99
Vol. 39, No. 4 • APRIL 2012
CICF to host worldwide crowd
The world coin collecting
community will gather in
Rosemont, Ill., April 26-29
for the 37th annual Chicago
International Coin Fair.
The event will take place at
the Crowne Plaza Chicago
O’Hare, a short distance
from Chicago’s international
airport.
“It is always a pleasure
to play host to an event that
truly draws people from
around the globe,” said Scott
Tappa, convention chairman
and World Coin News publisher. “The world coin collecting community is alive and well, and we
have dealers, auction companies and collectors buying and selling material from just
about everywhere.”
The CICF bourse will once again feature
more than 100 dealers, auction houses, suppliers, organizations and other firms serving
the world coin community. Represented in
$1,105,375 was the
price tag for this
1st century Jewish
silver shekel.
Shekel brings $1.1
million at auction
Dealers from six countries will have tables at CICF.
this group are 25 different states and six
countries. A current list of CICF exhibitors
can be found online at www.cicfshow.com.
“While we certainly value our local customers, this is not strictly a Chicagoland
CICF/Page 40
Notes old and new buoy CPMX
By Robert R. Van Ryzin
Enjoying what he says was his best quarter of business
in the past 30 years, and hoping this trend will continue,
dealer Frederick J. Bart of Executive Currency, Roseville,
Mich., was upbeat about the 18th Annual Chicago Paper
Money Expo March 8-11 in Rosemont., Ill.
The show at the Crowne Plaza O’Hare featured a worldclass bourse, attendees from 33 states and seven countries,
a Lyn Knight currency auction and meetings by various
numismatic organizations, including the board of the
Professional Currency Dealers Association, the Chicago
Bill Brandimore, market analyst Coin Club and the International Bank Note Society.
“Although there was a moderate buzz on the bourse
and collector, displays an
addition to his collection of
Queen Elizabeth II notes.
CPMX/Page 44
CAN $5.99
01
02
03
04
FnL1
JUYrVyBQdWJsaWNhdGlvbnMsIEluYyAo
SW9sYSBkaXZpc2lvbikPR3JlZ29yeSBL
cnVlZ2VyAE7zKVACMTMDMTAwATEFVVBD
LUEMMDc0NDcwNTAyODUyRA==
04 0120
04
74470 50285
2
Shekel/Page 40
44 arrested for
antiquities trafficking
POLYGYROS, Greece (AP) – Greek
police arrested a total of 44 people for illegal
antiquities trafficking after they investigated
the group’s moves for months, officials said
March 4.
Police said they confiscated 9,200 silver
and bronze coins dating from the 6th century B.C. to Byzantine times (4th to 15th
century A.D.). They also confiscated 300
“small artifacts.’’
Trafficking/Page 40
US $4.99
0
The first silver shekel struck in Jerusalem
by Jewish forces rebelling against Roman
oppression in the 1st century C.E. brought a
world record price of $1,105,375 March 8 as
part of Heritage Auctions’ sale of The Shoshana
Collection of Ancient Coins of Judea.
The coin, one of just two specimens known,
sold to an anonymous overseas collector.
Overall, the auction realized more than
$7.6 million, with the whole of the Shoshana
Mandela R5 continues record run
Wholesale Bank Note List
on Request
By Chris Woltermann
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It was not a fluke when, in 2009, a
newly minted and briefly circulating
South African coin rocketed to fame as
the world’s most rapidly appreciating
numismatic asset. For sound reasons,
the highest graded examples of the 2008
Mandela 90th birthday R5 (5 rand)
continue their unprecedented market
ascent.
News of retired South African president Nelson Mandela’s recent hospitalization (February 2012) spurred me to
re-examine his birthday coin that I last
discussed for World Coin News readers
three years ago. What I learned will
excite even the most jaded collectors
and investors.
The highest graded examples of the
90th birthday R5 in early 2009 were
six MS-68s. Each of three had sold for
R100,000, then about US$10,000. Just
months before, these coins were worth
face value, about US 50 cents apiece.
Today’s finest known specimens are
12 MS-69s out of more than 140,000
pieces graded by Numismatic Guaranty
Corporation, Professional Coin Grading
300,000,000
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LIST
2.49
5.95
5.50
6.95
4.99
5.99
NET
1.85
4.45
4.15
4.85
3.50
4.20
DOZEN
19.20
46.80
39.60
49.80
35.95
43.20
LIST NET
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LIST
2.95
2.95
7.95
NET
2.35
2.35
5.95
DOZEN
24.60
24.60
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TYPE
Vinyl
Paper
100 500
4.75 22.50
3.75 13.95
1,000
40.95
26.95
Safety
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5.95
25.95
43.95
Safety
1½x1½
5.95
25.95
43.95
50 Pieces
5.95
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19.95
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28.95
49.25
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Service and ANACS, the only such
firms respected in South Africa. A single MS-69 was recently sold by SA
Coin, a South African dealer, for R2.5
million, an astounding US$334,250 at
the current exchange rate.
How does one explain this price for
a coin whose mintage and release to the
public was 5 million pieces? How does
one account for the price when the coin
is only four years old, when neither
minting errors nor die variations are
involved?
The South African public’s reverence for Mandela made his new coin
coveted even before its release. Then,
upon release, most examples moved
from the banking system’s distribution
network to persons intent on holding
them for their symbolic association.
Some few coins circulated, though only
fleetingly, in stark contrast to prerelease planning.
Failure of the birthday R5 to circulate coincided with the abrupt rise of
an updated numismatic consciousness
among South Africans. Almost no sooner had it taken hold among the collecting elite than it permeated the general
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500 (in groups of 100)
107.50
142.50
For LG$ or AE$ Size, add 10¢ per tube
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Bausch & Lomb 5x
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LIST
10.30
13.99
31.85
10.95
6.95
13.40
74.95
NET
6.95
9.80
22.50
8.20
4.85
9.50
56.20
DOZEN
67.50
6/50.40
3/52.50
6/42.60
49.95
96.50
3/146.10
COIN BOXES
SIZE
Whitman Slab
PCGS
NGC
2x2x9
2x2x9
2x4x14 Dbl. row
TYPE
Plastic
Plastic
Plastic
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Board
Board
LIST
9.99
9.50
14.55
5.99
1.45
6.25
NET
6.95
5.45
8.95
3.95
1.15
4.70
DOZEN
71.95
56.50
96.00
42.95
10.80
45.00
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50 pcs./1 size ............................................................... 7.55
1000 pcs./1 size ....................................................... 105.95
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3.75
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29.95
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67.20
30.95
35.85
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Large
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10
2.10
2.60
2.80
6.90
7.05
25
5.00
6.25
6.75
16.50
16.75
100
16.95
18.25
20.95
48.30
49.35
300
42.00
51.00
60.00
134.55
137.50
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Littleton Albums – 25% Discount
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Biblical Coins, Guide to: 5th Ed. by Hendin ...85.00
2012 Black Book World Coins .........................8.99
2012 Blue Book of US Coins Softcover ...........9.95
2012 Red Book Hardcover .............................16.95
2012 Red Book Softcover of US Coins ..........14.95
2012 Charlton Canadian Numismatic Issues .24.95
2011 Charlton Canadian Collector Issues ......24.95
Canadian Coin Digest by Cuhaj ......................12.99
Canadian Colonial Tokens (7th Ed.) ...............39.95
Canadian Gov't Paper 24th Ed. Charlton ........29.95
Cleaning and Pres. of Coins Hardcover .........20.00
Coins of Canada Haxby 2012 .........................18.95
Coins of England & U.K., Spinks 46th 2011 ........49.95
Net
Doz.
11.85 6/61.20
76.50
6.30
64.80
6.95
71.65
10.25 110.95
8.95
98.50
18.70 6/97.20
18.70 6/97.20
8.95 6/46.80
29.95 3/77.85
22.45 3/58.35
13.95
14.20 6/68.10
42.45 3/112.35
List
Net
Doz.
Coins of North Europe & Russia ....................24.99
18.75
Collecting World Coins 13th
44.99
31.50 3/81.00
Curious Currency ...........................................12.95
8.95 6/46.80
Early Dated Europe Coins 1234-1500 ............85.00
63.75 3/165.75
East Baltic Regional Coinage..........................20.00
14.60 6/74.40
Emergency Coins of Germany, Metal & Porcelain .22.00
17.95
English Paper Money 6th Ed. .........................36.00
28.80
Facts, Mysteries & Myths of US Coins ..........12.95
9.10 6/46.80
German Coins 1501-Date 3rd Ed by Nicol ...125.00
87.50 3/225.00
German Coins 1601-up 2nd Ed......................59.00 SPECIAL
35.95
German Notgeld 11 Volume Set ..................502.45 399.95
German Secular Talers 1600-1700.................50.00
36.50 3/93.00
German States, Copper Coins of;...................10.00
8.00
Gold, Buy & Sell Today ..................................12.95
8.95 6/46.80
Gold Coins of the World Frieberg 8th ............... 89.95
SALE 53.95
1600-1700 Krause World Coins 4th...............80.00
55.95 3/144.00
1701-1800 Krause World Coins 5th...............85.00
59.50 3/153.00
1801-1900 Krause World Coins 6th...............70.00
48.95 3/126.00
1901-2000 Krause World Coins '12 (39th) .......65.00
45.50 3/117.00
2001-Up Krause World Coins 6th Ed .............44.95
31.50 3/81.00
Italy, Copper Coins of;......................................7.50
5.00
Lg. Size Silver Coins of The World ................60.00
41.95
Medals of British India 1750-1947 Puddester90.00
67.50
Mexican Paper Money 2010 Ed. ..................125.00 109.95
Milestone Coins (History) ..............................29.95
20.95 6/107.85
Modern World Coin 1850-1964 .....................19.95
13.95 6/72.00
Money of the Bible 2nd Ed.............................29.95
20.95 3/53.85
Money of the World Goldberg........................49.95
34.95 3/89.85
Morgan Dollar Red Book 3rd Ed. ...................19.95
13.95 6/72.00
North American Coins & Prices 2012 ............19.95
13.95 6/71.95
Norway, Copper Coins of; ................................3.50
2.00
Numismatic Art in Amer. 2nd Ed....................29.95
20.95 3/53.85
Numismatic Photography 2nd Ed. .................29.95
20.95 3/53.85
Obsolete Paper by US Banks Bowers ............69.95
52.50 3/125.85
100 Greatest Coins 3rd Ed. ............................29.95
20.95 6/107.85
Paper Money of U.S. Friedberg 19th..............49.50
34.65 3/89.10
Practical Book of Cobs (4th Ed.)....................25.00
21.25 6/112.50
Roman Coins and Values, Vol. 2..................110.50
93.95 3/248.55
Roman Coins and Values, Vol. 1 or 3 ............76.50
65.00 3/172.00
Roman Coins and Values Vol. 4.....................93.50
79.50 3/210.45
Scotland, Ireland & The Islands, Coins of......50.00
44.00
Unusual World Coins 6th Ed. .........................54.99
38.50 3/99.00
U.S. Coinage Study by Type-Garrett ..............39.95
27.95 3/71.85
What to Do With Grandpa's Coins .................14.95
10.45 6/53.70
World Gold Bullion Guide ................................9.00
6.75 6/32.40
World Silver Bullion Guide ...............................9.00
6.75 6/32.40
World Paper Pick Vol. 1 Specialized 11th ......85.00
59.50 3/153.00
World Paper Pick Vol. II General 13th ...........80.00
55.95 3/144.00
World Paper Pick. Vol. III Modern 17th .........65.00
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World's Greatest Mint Errors .........................37.95
26.55 3/68.25
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48
World Coin News / April 2012
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MS-69 examples of
Nelson Mandela’s
2008 90th birthday
coin are probably
the 21st century’s
most valuable
meant-forcirculation issues.
(Images courtesy SA Coin.)
public. Its core was a new appreciation of modern coinage.
South African collectors had formerly focused exclusively
on “old” coins and/or those modern issues commonly designated as non-circulating legal tender. Quite suddenly, it
seemed, South Africans began to wonder about the rarity of
modern business strikes exhibiting the highest quality imaginable. Might they be much rarer, and thus extremely desirable
as collectibles, than anyone suspected?
Answering this question required resort to expert graders
to serve as arbiters of coin quality. Some farsighted South
Africans started to submit their country’s modern business
strikes to the big three American grading services. Such submissions grew with exponential rapidity, and South Africans
soon became as enthusiastic about professional grading as are
Americans.
The question about the rarity of the best South African
business strikes has been answered. They’re extraordinarily
rare. The relative numbers of the birthday R5’s business and
proof strikes are illustrative.
As noted earlier, of the 5 million business strikes, more
than 140,000 have been graded, resulting in a mere 12 MS69s and no MS-70s. Only 5,000 of the gorgeous proofs were
struck, and approximately 80 percent of them have already
been graded. There are 58 PF-70s and 1,964 PF-69s.
Recent selling prices, as per SA Coin, reflect the relative rarities. The prices are R2.5 million for a MS-69 versus
R125,000 for a PF-70, a ratio of 20 to one.
Additional submissions of uncirculated birthday R5s may
well leave the market momentum of heretofore graded coins
intact. The coins with the most obvious potential for the highest grades probably have already been submitted. Then, too,
the longer that coins remain unencapsulated by a grading serWoltermann/Page 50
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www.worldcoinnews.net / April 2012
49
The beautiful proofs have a much lower mintage but are comparatively
common in the highest grades. (Image courtesy SA Coin.)
Woltermann/from Page 49
vice, the more susceptible they are to mishandling and environmental damage. Furthermore, if the American experience
with vastly increased numbers of graded Morgan dollars is
indicative, a growing population of birthday R5s will actually
enhance the market by drawing in new collectors.
Lest there be any misunderstanding, factors other than rarity also lie behind the phenomenon of the birthday R5.
There is the coin’s importance as a component of the
six-coin set of Mandela R5s. Collectors seek to assemble
sets consisting of the business and proof strikes of the 1994
presidential inauguration coin, the 2000 presidential coin,
and the 2008 birthday issue. The birthday proof may be the
set’s sleeper. Its mintage is far less than those of the two other
proofs.
All of South Africa’s Mandela business strikes benefit
from their status as true, meant-for-circulation coins. They
stand in sharp contrast to the ostensibly Mandela-related trinkets marketed as medallions or non-circulating legal tender by
foreign mints and unscrupulous promoters having no connection to Mandela other than a determination to capitalize on his
name while duping collectors.
The allure of all South African Mandela R5s as real coins
extends beyond South Africa’s borders to foreign collectors
and investors. I’ve heard that the coins are traded even in
Dubai, but I can’t verify that. Interest is certainly picking up
elsewhere, especially Australia, but also Europe and North
America. The birthday R5’s stunning market run will not end
soon.
All three Mandela coins will, unless foolish politicians
get in the way, continue to draw pricing strength from South
Africa’s prudent practice of not taxing the profits from rare
coin transactions. This is a tremendous boon to the domestic
market with positive effects rippling globally beyond it.
Collectors everywhere, and investors too, I believe, should
be grateful for the role of South Africa’s Mandela coins in
our numismatic universe. As business strikes, they provide
irrefutable evidence that real coins – coins minted to serve as
money – remain the foundation of our passion.
50
World Coin News / April 2012