Sacagawea Makeover

By David L. Ganz

Weighing in on the new reverse design for the Sacagawea dollar mandated by Congress, the Citizens Coinage Advisory Committee viewed more than a dozen designs June 18 before selecting a female Indian planting maize (corn) in a field. The design is intended for use on the 2009 dollar coin, which is the first that will host a Native American theme.

Each year thereafter a different Native American design will appear.
The design on the obverse is not necessarily the old Sacagawea design. It is to be chosen by the Secretary of the Treasury, Henry Paulson, after consultation with the Commission of Fine Arts and review by the Citizens Coinage Advisory Committee.

There are two requirements: it must
" contain the so-called "Sacagawea design" and " the inscription "Liberty."Despite recent difficulties with edge-lettering, the law requires that the inscription of the year of minting and issuance of the coin and the inscriptions "E Pluribus Unum" and "In God We Trust" are required to be edge-incused into the coin. The CCAC formally recommended the date movement, too.
There is a specific requirement that the edge-incusing of the inscriptions be done in a manner that preserves the distinctive edge of the coin so that the denomination of the coin is readily discernible, including by individuals who are blind or visually impaired.

There is an additional consultation requirement: designs selected for the reverse shall be chosen by the Treasury Secretary after consultation with the Committee on Indian Affairs of the Senate, the Congressional Native American Caucus of the House of Representatives, the Commission of Fine Arts and the National Congress of American Indians. They must further be reviewed by the Citizens Coinage Advisory Committee.

Congress suggested some design themes to offer its guidance on how the coins should be designed which appears at odds with the end result honoring agriculture. Specific examples appear in the law.

They "may depict individuals and events such as the creation of Cherokee written language, the Iroquois Confederacy, Wampanoag Chief Massasoit, the 'Pueblo Revolt,' Olympian Jim Thorpe, Ely S. Parker, a general on the staff of Gen. Ulysses S. Grant, and later head of the Bureau of Indian Affairs, code talkers who served the U.S. Armed Forces during World War I and World War II."

Nothing that could be considered a "two headed" coin would be permitted.

The law requires that each design for the reverse of the $1 coins issued during each year shall be emblematic of a single important Native American. Each $1 coin minted "shall be available throughout the entire one-year period," the new law says.

They also shall be issued, to the maximum extent practicable, in the chronological order in which the Native Americans lived or the events occurred, until the termination of the coin program. Numismatic coins are specifically denominated: "the Secretary may mint and issue such number of $1 coins of each design selected in uncirculated and proof qualities as the Secretary determines to be appropriate."

As to how many: the number of $1 coins minted and issued in a year with the Sacagawea design on the obverse shall be not less than 20 percent of the total number of $1 coins minted and issued in such year. Thus, dollar coin demand will be shared between the Presidential dollar program and the Sacagawea design.

Recognizing that there are "barriers to circulation," the bill directs the Secretary of the Treasury to "carry out an aggressive, cost-effective, continuing campaign to encourage commercial enterprises to accept and dispense $1 coins that have as designs on the obverse the so-called 'Sacagawea design,'" and calls for an annual report on the success of the efforts to be submitted to Congress.

CCAC's second choice was a design featuring three female Indians surrounded by squash, corn and beans. It represented the traditional Three Sisters system of planting the crops. To the Iroquois people, corn, beans, and squash are the Three Sisters - the physical and spiritual sustainers of life. The three vegetables comprised their main food supply. Iroquois women mixed their crops, using a system called "interplanting."

"What ended up carrying the day for our selection was how clearly it represented the theme of Native Americans and agriculture," CCAC chairman Mitch Sanders said. "We liked its aesthetic appeal and the fact that a Native American woman is shown being strongly involved in agriculture."

The ongoing Sacagawea program is expected to last until at least until 2016. Next stop is a mandatory review by the Commission of Fine Arts. Then Treasury Secretary Henry Paulson will make a design choice for next year's dollar coinage.

Bowers and Merena 1,300 Coin Lots at Baltimore

Bowers and Merena 1,300 Coin Lots at Baltimore

By Bowers and Merena

Highlights of Bowers and Merena’s Baltimore Rarities Sale, which is prior to ANA World’s Fair of Money, include extraordinary 1866-S No Motto Liberty Double Eagle in NGC MS-60 and elusive 1808 Capped Bust Left Quarter Eagle in NGC MS-61

Bowers and Merena Auctions, America’s leading rare coin auction house, will host their Baltimore Rarities Sale in July at the Baltimore Marriott Waterfront, just prior to the ANA World’s Fair of Money. The auction of nearly 1,300 lots will be presented on Saturday, July 26, with lot viewing scheduled for Thursday to Saturday, July 24-26, and lot pick-up on Sunday, July 27. The catalog includes approximately 1,100 coin and 200 currency lots.
At the top of the highlights list is an impressive 1866-S No Motto Liberty Double Eagle graded MS-60 by NGC. It is described as a High Condition Census example, one of only three Mint State examples known to PCGS and NGC, and the type of Mint State rarity that is not often available to collectors for purchase.

Although Winter and Crum were unaware of any Mint State examples of the 1866-S No Motto in numismatic circles, PCGS and NGC have since certified a few coins at that level. The total is limited to just three pieces, however, the finest of which grades only MS-61. Clearly a very rare coin from both absolute and condition standpoints, the BU example that Bowers and Merena is offering represents a fleeting bidding opportunity for the advanced collector of 19th century U.S. gold coinage.

Additional highlights of note include an 1808 Capped Bust Left Quarter Eagle, BD-1, HBCC-3017, the only known dies, Rarity-4, graded MS-61 by NGC. This is an elusive and significant One-Year Type, one of no more than 150 Capped Bust Left Quarter Eagles that are estimated to remain to meet the demand of both early gold specialists and type collectors, the latter group, in particular, representing an ever-growing segment of the numismatic market.

Also, notable is a lovely prooflike 1795 Capped Bust Right Half Eagle, Small Eagle, BD-8, HBCC-3041, Miller-10, Rarity-5+, graded MS-63 PL by NGC, a nice coin, and a rarer die pairing of this historically significant and extremely popular federal gold issue.

"Bowers and Merena just returned from a very successful June auction in Baltimore where we realized over $6.2 million, and there was already a lot of talk and enthusiasm among attendees to return to Baltimore in July," said Steve Deeds, president of Bowers and Merena.
"We have a fantastic selection of very special coin and currency lots and we are looking forward to presenting an exceptional rarities auction that serious collectors will really appreciate."

Additional coin highlights include1918/7-D Buffalo Nickel. FS-016.5. MS-64 (PCGS). 1796 Capped Bust Right Quarter Eagle. BD-2, HBCC-3002. Rarity-4. No Stars. AU-53 (NGC). 1794 Flowing Hair Silver Dollar. BB-1, B-1, the only known dies. Rarity-4. F-15 (PCGS). 1931-D Saint-Gaudens Double Eagle. MS-64 (PCGS). 1882 Haiku Plantation One Real Token. TE-15. MS-66 RB (PCGS). 1915 Saint-Gaudens Double Eagle. Proof-66 (NGC). 1918/7-S Standing Liberty Quarter. FS-008.5. MS-65 (NGC). 1912 Saint-Gaudens Double Eagle Proof-66 (NGC) 1892-S Morgan Silver Dollar. MS-63 (PCGS). 1920-S Saint-Gaudens Double Eagle. MS-62 (PCGS). 1885 Three-Dollar Gold Piece. Proof-66 Cameo (PCGS). CAC. 1818 Capped Head Left Half Eagle. BD-3, HBCC-3131, Miller-125. Rarity-5. 5D Over 50. MS-64 (NGC). 1855 Wass, Molitor & Co. $50 Gold. K-9. Rarity-5. AU-50 (PCGS). 1937-D Buffalo Nickel. FS-020.2. 3-Legged. MS-66 (NGC). 1797 Draped Bust Silver Dollar. BB-72, B-2. Rarity-4. Stars 9×7, Small Letters. AU-50 (PCGS). 1798 Capped Bust Right Quarter Eagle. BD-2, HBCC-3006. Rarity-5. Wide Date. AU-58 (NGC). 1860 Clark, Gruber & Co. $10 Gold. K-3. Rarity-5. MS-61 (PCGS). 1859 Seated Liberty Silver Dollar. Proof-67 * (NGC). 1867 Shield Nickel. Rays. Proof-64 (PCGS). OGH (Old Green Holder). 1799 Capped Bust Right Eagle. BD-10, HBCC-3191, Taraszka-22. Rarity-3. Large Stars Obverse. MS-62 (PCGS). 1854 Gold Dollar. Type II. MS-65 (PCGS). OGH (Old Green Holder). 1825/’1′ Capped Head Left Half Eagle. BD-1, HBCC-3147, Miller-149. Rarity-5+. AU-58 (NGC). 1839 Gobrecht Silver Dollar. Name Omitted. Judd-104 Restrike, Pollock-116. Rarity-3. Proof-63 (NGC). Silver. Die Alignment IV. 1921-S Walking Liberty Half Dollar. MS-64 (NGC). Currency highlights includeFr. 2407 1928 $500 Gold Certificate. PMG Gem Uncirculated 65EPQ. Fr. 1177. 1882 $20 Gold Certificate. PCGS Extremely Fine 40. Marquette, MI. $20 1902 Red Seal. The FNB. Charter #(M)390. PMG Gem Uncirculated 66EPQ. Fr. 753. 1918 $2 Federal Reserve Bank Note. PMG Superb Gem Uncirculated 67EPQ. Fr. 364. 1891 $5 Treasury Note. PCGS Superb Gem New 67PPQ. Carrollton, IL. $5 1875. Fr. 404. The Greene County NB. Charter #2390. PMG About Uncirculated 55 All lots and images in the Bowers and Merena Baltimore Rarities Sale will be viewable online by early-July at www.bowersandmerena.com, and printed catalogs are available upon request by calling 800.458.4646.

Pre-auction bids are welcome at www.bowersandmerena.com; by e-mail at auction@bowersandmerena.com; by phone at 800.458.4646; by fax at 949.253.4091; and by postal mail addressed to Bowers and Merena, Baltimore Rarities July 2008, 18061 Fitch, Irvine, CA, 92614.

Interested bidders are also encouraged to bid in-person at the live auction on Saturday, July 26, 2008, or live online through the Bowers and Merena website. A complete auction and lot viewing schedule is available at www.bowersandmerena.com or by calling 800.458.4646.

About Bowers and Merena AuctionsBowers and Merena Auctions was founded in 1983 and has grown to become the world’s preeminent numismatic auctioneer with more than half a billion dollars in rare coin and currency sales. Bowers and Merena has handled four of the five most valuable United States coin collections ever sold, including the Louis E. Eliasberg Sr. Collection, the Harry W. Bass Jr. Collection, the Garrett Collection for The Johns Hopkins University, and the Norweb Collection.

For more information about Bowers and Merena and the Baltimore Rarities Sale in July, call 800.458.4646. For media inquiries, ask for president Steve Deeds. Complete prices realized for all past auctions are available at www.bowersandmerena.com.

Odyssey Marine Exploration and Spain Back in Court Over Coin Treasure

By CoinNews.net

Florida-based treasure hunting, deep-sea exploration firm Odyssey Marine Exploration is back in court this morning at 9:30 a.m. (ET) with Spain. The legal battle over 17-tons of silver and gold Colonial-era coins continues in U.S. Federal court before Magistrate Judge Mark A. Pizzo.
The coin treasure trove was recovered by Odyssey in May of 2007, and resulting legal disputes with Spain over ownership have resulted since.

Court fillings reveal that the conclusive identity of the sunken ship site, Odyssey code-named the “Black Swan,” could not yet be made. But they also suggest a possible linkage to Nuestra Senora de las Mercedes y las Animas, a Spanish vessel that sank in the Atlantic Ocean in 1804.
Since, Spain’s attorney Jim Goold has went as far as stating Odyssey’s recovery of the treasure was “immoral and illegal,” and provided an analogy of someone taking personal effects from the pockets of those who died in the U.S.S Arizona at Pearl Harbor — essentially grave-robbing the honored dead.

Odyssey is quick to point out that there has never been remains of a shipwreck or humans found at the site, and that a claim its the shipwreck Mercedes has not been proven.
This morning’s pretrial conference appears to be mostly one of organization, with parties told to be prepared to discuss the case management reports previously filed, the current status of the case, and appropriate discovery deadlines.