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| Coin Profile : Royal Canadian Mint 5-Oz Gold Coin – 75th Anniversary of the First Bank Notes (2010)
June 4, 2010 at 4:25 AM
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| A reproduction of the allegory that appeared on the original 1935 $500 bank note At a time when so many new coin releases exhibit such uninspired design, we can across this incredible beauty being offered by the Canadian Mint in a Limited Mintage of 200 pieces.  Perhaps we have just "classical" taste for the rich allegorical figures of yesteryear which seems to impart an importance to the design, or it may be that the "clip art" mentality exhibited on most modern coins just leaves us cold. In any case, this 5 oz gold just struck a cord, and provides us with a reminder of what exceptional coinage could, and should look like.
The design is a reproduction of the allegory that appeared on the original 1935 $500 bank note; a seated woman holding a sickle surrounded by the fruits of harvest to symbolize fertility. This is the fourth time that the Mint has produced a 5oz gold coin. Previous issues: 2007 – Queen's 60th Wedding Anniversary, 2008 – 100th Anniversary of the Royal Canadian Mint and 2009 – 150th Ann. of beginning of Construction of Parliament Buildings. Theme:
The Bank of Canada began operating 75 years ago in 1935 and was given responsibility to regulate the country's money supply and to "promote the economic and financial welfare of Canada." Accordingly, it was given the exclusive right to issue Canada's bank notes. On March 11, 1935, the Bank of Canada issued its first series of bank notes. The inaugural series of 1935 included denominations of $1, $2, $5, $10, $20, $50, $100, $500 and $1,000. (A $25 note was issued later in 1935 to commemorate the silver jubilee of King George V). The front of the notes featured a portrait of a member of the royal family or of a former Canadian prime minister while allegorical figures representing Canada's growing agricultural, industrial and commercial prosperity appeared on the back. Each denomination was available in English or French, a practice that ended with the introduction of bilingual notes in 1937. Specifications: * Mintage: Limited to 200 coins worldwide
* Composition: 99.99% pure gold
* Finish: proof
* Weight (g): 156.5
* Diameter (mm): 60.15
* Edge: serrated
* Certificate: serialized
* Face value: $500
* Artist: Royal Canadian Mint engravers (reverse), Susanna Blunt (obverse) Related posts: - ROYAL CANADIAN MINT CELEBRATES 100TH ANNIVERSARY
- ROYAL CANADIAN MINT COMMEMORATES 90 TH ANNIVERSARY OF THE END OF THE FIRST WORLD WAR
- Royal Canadian Mint FINAL ISSUES OF 2007
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| Over 3400 Lots at Heritage's Memphis International Paper Money Show Currency Auction
June 4, 2010 at 3:38 AM
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| The Official Currency Auction of the 2010 Memphis International Paper Money Show in Memphis will be conducted by Heritage Auctions June 17-21. The auction will include three floor sessions and an online session. Lot viewing will be conducted at the Cook Convention Center, East Hall, 225 N. Main Street in Memphis, and the floor sessions will be held at the Memphis Marriott Downtown, Heritage Ballroom, 250 North Main Street. Session One will begin on Thursday evening, June 17, at 6 p.m. CST, and includes World Currency, Canadian Currency, Miscellaneous, Continental Currency, Colonials, Fractional Currency, Obsoletes, Confederate Notes, and Military Payment Certificates. Heritage Currency Auctions is pleased to present a large selection of World notes as part of Session One. Eighty one countries will be represented by the 226 lots being offered. Featured lots include: Australia Commonwealth of Australia £10 ND (1927) Pick 18b R55 PMG Choice About Unc 58, Hawaii Republic of Hawaii Silver Certificate of Deposit $10 1895 (1897) Pick 12a PCGS Fine 12, and a Palestine £10 Palestine Currency Board 1929 Pick 9b PMG Choice Very Fine 35. The Canadian offerings include a BC-19 $1000 1935 PMG Gem Uncirculated 65 EPQ and ! a Halifax, NS- The Bank of Nova Scotia $100 1929 Ch # 550-28-40 PMG Very Fine 20. 
Additional Session One highlights include: an extremely rare "Independence" Sword in Hand Note Massachusetts November 17, 1776 36s PMG Choice Very Fine 35; a Maryland July 26, 1775 $1 1/3 PMG Choice Fine 15 Allegorical Note; fourteen group lots of Obsoletes from the Bank of the State of South Carolina, among them Charleston, SC- Bank of the State of South Carolina Fractional Notes, Including Several Unlisted Varieties; a Confederate T6 $50 1861 PMG Choice Uncirculated 64 EPQ; a rare Ball 277 Cr. 137 $5000 1863 Four Per Cent Call Certificate PMG Very Fine 20; and Military Payment Certificate Series 661 $10 PMG Gem Uncirculated 65 EPQ. Small Size Notes, Error Notes, and Large Size Notes will be featured during Session Two beginning on Friday, June 18 at 6 p.m. CST. Among the Small Size selections are newly discovered $5,000 and $10,000 Federal Reserve Notes from the Dallas district Fr. 2221-K $5000 1934 LGS FRN Note PMG Very Fine 30 and Fr. 2231-K $10000 1934 FRN PCGS Apparent Very Fine 25, and a gorgeous Fr. 2407 $500 1928 Gold Certificate PMG Gem Uncirculated 65 EPQ. A number of outstanding Error Notes will be presented, including the "King of Errors," a Fr. 964/Fr. 904 $20! /$10 1914 Double Denomination FRN PCGS About New 50, and a Skaneateles, NY – $10 1929 Ty. 1 The NB of Skaneateles Ch. # 5360 with a rare inverted overprint of the black ink portion. Large Size offerings include a Fr. 1072a $100 1914 Red Seal FRN PMG Gem Uncirculated 66 EPQ that is tied for finest known and the Ten Note Federal Reserve Proof Presentation Set Number 1 that was presented by Secretary of the Treasury William G. McAdoo on December 21, 1914. National Bank Notes will be sold during Session Three, on Saturday, June 19 at 6 p.m. CST. Heritage is pleased to present Part I of the Old Line Collection, a collection that includes many rarities from numerous states and territories. Part I contains a large number of California and Virginia notes, many with impressive pedigrees. Session Three also includes Part II of the Don C. Kelly Collection of Ohio National Bank Notes as well as Part III of selections from the Lone Star Collection, an assemblage of National Bank Notes formed over three decades consisting of the very finest notes that could be obtained from Arkansas, Oklahoma and Texas. A newly discovered Nephi, UT – $5 1902 Red Seal Fr. 589 The Nephi NB Ch. # (P)8508 PMG Very Fine 20 that becomes the finest known Utah Red Seal is among the highlights found in the Session Three material. Another incredible note is the Walla Walla, Washington Territory – $5 1875 Fr. 403 The First NB Ch. # 2380 PMG Very Fine 25, one of three known First Charter Washington Territorials. A Serial Number One Flagstaff, AZ – $5 1902 Plain Back Fr. 606 The First NB Ch. # (P)11120 PMG Choice Uncirculated 64 EPQ is among the featured lots. A unique double denomination Small Size National Bank Note, a Seattle, WA – $20/$10 Double Denomination 1929 Ty. 1 First Seattle Dexter Horton NB Ch. # 11280 PMG Very Fine 20 Net is sure to attract attention as well. Also being offered during Session Three is The Piedmont Collection of North Carolina National Bank Notes, one of the finest collections of North Carolina National Bank Notes ever assembled, and certainly the finest presented at public auction. A total of 107 Large Size and one exceptional Small Size note are included. In addition to unique notes; serial number one, type note, and high grade rarities abound in this collection. The Piedmont Collection is being offered as a single lot and includes among other things a number of post cards and a few other pieces of ephemera. All three Signature Sessions include incredible notes from the C.A. Dolph & Son Collection; an assemblage that was formed from the 1920's to the 1940's and had remained undisturbed for six decades. Among the offerings are three previously unknown Defiance Mining Company California Obsoletes, including a Darwin, CA- Defiance Mining Company $10 June 27, 1876 PMG Choice Fine 15 Net. Another of the many rarities is a Putnam, CT – $10 1882 Brown Back Fr. 485 The Thompson NB Ch. # 1477 PMG Very Fine 25, an unreported title from the state. The Non-Floor Session of the 2010 Memphis Heritage Currency Auction will be available for viewing in Memphis and closes on Heritage Live on Monday, June 21, starting at 12:00 p.m. CST. Among the 1300+ lots being offered are an additional 199 lots of World material. Heritage Auctions, headed by Steve Ivy, Jim Halperin and Greg Rohan, is the world's third largest auction house, with annual sales more than $600 million, and 500,000+ registered online bidder members. For more information about Heritage Auctions, and to join and gain access to a complete record of prices realized, along with full-color, enlargeable photos of each lot, please visit HA.com.
Related posts: - Heritage's Official Currency Auction at FUN to Include 4800 Lots
- Heritage Presents 5200 Lot Currency Auction at Florida United Numismatists Show, Orlando Florida
- Heritage 2,700+ Lot Currency Signature Auction at Central States, April 28-May 3
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| THE BULLS, THE BEARS, AND CALIFORNIA GOLD COINS
June 4, 2010 at 3:04 AM
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| By Richard Giedroyc – HCC Rare Coins Once upon a time gold was worth a paltry amount compared to the lofty figures it commands per ounce today. Since gold didn't have such an incredible value, nor did it fluctuate much in price, it was practical to be used as a coinage metal.  The United States is only one of many countries that over many centuries issued gold composition coins. As the United States expanded so did its need for circulating coinage. In 1848 gold was discovered at Sutter's Mill in California. People dropped whatever they were doing, sometimes almost literally, and headed for the west coast of what today is the United States to seek their fortunes. Believe it or not even the gold mines in the Carolinas and Georgia in the Appalachian Mountains were abandoned as people perceived that it would be much easier to mine the golden metal in California than in the east.
Some found what they sought. Others would be disappointed. One thing, however, was certain. If the population explosion in California was to be sustained economically either barter would have to be greatly expanded or a lot more coins than had been available were going to be needed in commerce. The United States recognized the need for a regionally located mint to fill this need. Prior to the establishment of the San Francisco Mint facility in 1854 private parties, primarily jewelers and assayers, produced their own coinage to fill the void. Since gold was readily available while silver was not the private coinage issuers in California used gold to produce what today are generally referred to as Pioneer or Private and Territorial Gold issues. Although most collectors will remember the more famous issues struck in denominations of $5, $10, $20, and $50, these same private minters struck fractional denominations as well. These "quarters," "half dollars," and "dollars" were also struck in gold, since silver was not generally as available. These coins are tiny, many of them being less than 20 millimeters in diameter. These fractional denominations were useful in making small change, but they were also a nuisance due to their diminutive diameter. These small denomination gold coins were easily lost. There was little consistency to their designs or shapes. Some depicted the head of Liberty, while others depicted an Indian. Some were round, while others were octagonal. It was likely quite a relief once the San Francisco Mint was able to begin supplying sufficient quantities of small change coins to displace these fractional issues. These small denominations first appeared in 1852. Some of them had as much as 85 percent of their face value as precious metal content, while others were gold plated. The Coinage Act of April 22, 1864 made all privately produced coinage illegal, however due to a lack of enforcement and poor wording of the legislation many of these small denominations continued to be issued simply without a denomination on them. For practical purposes the issues ceased after 1883, however after this date imitation tokens that were backdated to the 1850s continued to be issued right into the early part of the 20th century. There is confusion regarding which of these many issues are true California small denomination gold coins meant to be used as money and which are those struck much later for use in the jewelry industry. There isn't room here to address all of the many issues, but the important point to be made here is that should you encounter a California fractional gold coin on which the California bear appears at about six o'clock on the reverse be aware these issues are always among those that were made at a later date for the jewelry industry. These jewelry pieces are fun to collect, but keep in mind they are gold plated and as such are not the expensive issues produced prior to the founding of the San Francisco Mint. Related posts: - THE BULLS, THE BEARS, AND CALIFORNIA GOLD COINS
- Teletrade to Auction California Fractional Gold from The Kovach Colleciton June 22
- NGC Reports Grading Matte Proof 1925-S California Half Dollar
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