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Numismatic Guaranty Corporation
October 2004  
 
Issue No.  
   
1. The Best of the Registry Awards 2004
   
2. New Registry Set Categories Now Available
   
3. USA Coin Album
   
4. Grading Onsite Las Vegas
   
5. NGC Grading Onsite at the Palm Beach Coin Show
   
6. NGC and Bowers and Merena Auctions Proud to Present One of the Finest Collections of 1907 Gold Coinage Ever Assembled
   



UPCOMING EVENTS

October 28-31
Las Vegas Coin, Stamp & Collectibles Show

Mandalay Bay Resort & Casino
Las Vegas, NV


October 29-30
Sarasota Coin Show

Municipal Auditorium
Sarasota, FL


November 4-6
Palm Beach Coin Show

New Palm Beach
Convention Center
West Palm Beach, FL



The Best of the Registry Awards 2004
Is your set really Number One? Register your set in NGC's Certified Coin Registry to find out.

Each year, participants with the best sets in the following categories will receive a personalized plaque, an icon of recognition by his/her set listing in the registry and up to 5 Deluxe Photoproofs of NGC coins from his/her winning set.

Awards will be given for:

  • The Five Best Classic Sets: 1792-1964
  • The Five Best Modern Sets: 1950 to date (including Jefferson Nickels, Roosevelt Dimes and Washington Quarters)
  • The Five Best Presented Sets (sets with the best descriptive text and coin images)

The winners of the best sets in these three categories will be determined by a team of NGC experts — Mark Salzberg, Rick Montgomery and David Lange.

Also, collectors with the finest set in each category will receive an icon of recognition by his/her set in the registry and a certificate of achievement.

Sets must be at least 50% complete to be eligible.

This year's deadline for set registration and updates is December 19, 2004. Winners will be announced on January 7, 2005.

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USA Coin Album
by David W. Lange
The Coinage of 1921, Part One

David Lange

One of my favorite dates for United States coinage is 1921. The obvious appeal of this date is, of course, that it includes several scarce and rare issues, but there's even more to the story. It seems that all, or nearly all, of the various denominations coined that year underwent some modifications by the US Mint's Engraving Department. These revisions are mostly quite subtle. Furthermore, some of the changes continued through the end of the series, while others are unique to 1921. In this three-part study, I'll take a look at some of the distinctive features which make the United States coinage of that year so intriguing.

One of the consequences of World War I was a tremendous increase in the mintage figures for USA coins. Creating so many working hubs and dies visibly wore down the master hubs for several denominations. This loss of detail was most evident on the obverse of each design, which, because it typically featured greater contrast in the height of relief between various elements, was subject to more rapid erosion. Having been coined in the greatest numbers, it was the two minor coin denominations of one cent and five cents that suffered the most, and these coins were never again as sharp as they had been before the war years. By the end of 1920, however, mintage figures were declining, and the Mint had an opportunity to address some of these concerns.

The master dies for 1921 would have been prepared during the final quarter of 1920, so that working hubs and dies could be on hand for the new year. It was at this time that several minor changes were effected to improve sharpness. The cent, which had clearly lost the most detail since 1916, was curiously given only a cursory treatment. The initials "V.D.B." added discretely in 1918, were sharpened by hand on the master hub in 1921. Since all subsequent obverse master dies were sunk from this hub for the next 40+ years, the sharpened letters survived until suffering the same overall erosion evident on Lincoln cents of the 1930s through 1968. The loss of detail in Lincoln's hair and beard were seemingly ignored in 1921, perhaps being not so obvious at that time, but nearly all such detail was obscured by the 1950s.

Through having nothing to do with the master hubs and dies involved, there are other peculiarities about the 1921-S cents, in particular. Typical of branch mint coins produced during the 1920s, both the obverse and reverse dies employed to strike this issue were used way beyond their reasonable limit, and examples showing extreme die erosion are found quite often. In addition, quite a number of 1921-S cents were coined from an obverse die in which the 'S' mintmark was punched very close to the date and also quite shallowly. The mintmark is so weak on these cents that it is nearly invisible on worn coins. In perusing old coin albums, I've encountered well worn 1921-S cents that had been placed in the 1921 "plain" slot by owners who failed to notice the faint mintmark.

All of the 1921-S cents, and most of those struck at Philadelphia, were produced during the first quarter of the year. A worldwide recession reduced the demand for new coins until well into 1923. In fact, as late as June 30, 1922, the San Francisco Mint still had more than 15 million undistributed cents in its vaults. During this long period of idleness, these mostly 1920-S and 1921-S cents would have begun to tone, perhaps accounting for the rarity of these dates in fully red condition.

The Buffalo nickels of 1921 differed from the cents of that year in that the changes made were effected in the master dies for that year alone, not in the master hubs used for the entire series. The date itself was engraved to a greater depth, and the numeral 1 was given serifs and slight concavity at its center. The master dies for both sides of this coin were sunk to a slightly greater depth than normal, and 1921 nickels of either mint may be found with extremely bold detail and visibly higher relief. Of course, this was lost as the working dies eroded through use, but early strikes have a very distinctive look.

Worn dies are all too typical of 1921-dated nickels from either mint. While the Philadelphia nickels sometimes show the effects of extended die usage, the dies wearing from the peripheries inward, those struck on the west coast betray a form of die erosion that occurred prematurely. In fact, the dies for both Denver and San Francisco Mint coins of the 1920s seem to have eroded uniformly across their entire faces, suggesting that these mints failed to harden them fully. Since the reverse dies did not bear dates, these were often used to ridiculous lengths, producing coins on which the mintmark is not distinguishable between 'D' and 'S.'

1921-S nickels were all coined during the second half of that year, and production of this denomination there did not resume until the final months of 1923. This issue is plagued with streaks and laminations, as all three United States Mints were experimenting with outside vendors for the procuring of ready-to-coin planchets.

David W. Lange's column "USA Coin Album" appears monthly in Numismatist, the official publication of the American Numismatic Association.

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New Registry Set Categories Now Available

In a continuing trend to expand the collecting options for our members, the following categories have been added to the Registry:

  • Proof Sets 1908-16
  • Proof Seated Liberty Dollars 1859-73
  • Coronet Half Eagles, No Motto, 1839-65
  • Coronet Half Eagles, Motto, 1866-1908
  • Coronet Half Eagles, Complete, 1839-1908
  • Type 3 Standing Liberty Quarters 1925-30 short set
  • Proof Seated Liberty Quarters
  • Proof Seated Liberty Half Dollars, 1858-1891
  • Year Sets 1892-35
  • Coronet Quarter Eagles
  • Proof Gold Dollars 1854-89

Also, the following series now have one-per-year sets:

  • Trade Dollars 1873-78
  • Indian Head Half Eagles 1908-16
  • Indian Head Eagles 1907-16
  • Saint-Gaudens Double Eagles 1907-28
  • Lincoln Cents 1909-33
  • Buffalo Nickels 1913-38
  • Barber Dimes 1892-1916
  • Mercury Dimes 1916-45
  • Barber Quarters 1892-1916
  • Standing Liberty Quarters 1916-30
  • Barber Halves 1892-1915
  • Walking Liberty Halves 1916-47

Many more set categories to come. Stay tuned!

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Grading Onsite Las Vegas

NGC will offer Onsite Grading and Encapsulating at the Las Vegas Coin, Stamp & Collectibles Show at the Mandalay Bay Resort & Casino October 27-29. The $100 and $65 Same Day show services will be offered. Please read below for complete details.

$100 Same Day Special:
$100 per coin for all coins over $1,500 in value.

$65 Same Day Special:
$65 per coin for all coins valued at $1,500 or less.

Guaranteed delivery within four hours of submission at shows may be purchased for $150 per coin under NGC's Expedite Service.

Submissions for Same Day services will be accepted on Wednesday, Oct 27 by appointment only. Please contact customer service for details. Submissions for Same Day services will also be accepted during show hours Thursday, Oct 28 and Friday, Oct 29*. Coins for $100 and $65 Same Day service submitted prior to daily cut-off times will be returned before the close of the show each day.

*Please check with NGC show representatives for daily cut-off times.

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NGC Grading Onsite at the Palm Beach Coin Show

NGC will offer Onsite Grading and Encapsulating at the Palm Beach Coin Show November 3-5. In addition to the $100 and $65 Same Day show services normally offered, NGC will also run a $40 Same Day Gold Show Special. Please read below for complete details.

$100 Same Day Special:
$100 per coin for all coins over $1,500 in value.

$65 Same Day Special:
$65 per coin for all coins valued at $1,500 or less.

$40 Same Day Gold Show Special:
$40 per coin for all Gold coins valued at $1,000 or less; 5 coin minimum.

Guaranteed delivery within four hours of submission at shows may be purchased for $150 per coin under NGC's Expedite Service.

Submissions for Same Day services will be accepted on Wednesday, Nov 3 from 3-7pm, and Thursday, Nov 4 prior to set up from 9-11am at the West Palm Beach Marriott. Please contact customer service for details. Submissions for Same Day services will also be accepted during show hours Thursday, Nov 4 and Friday, Nov 5*. Coins for $100 and $65 Same Day service submitted prior to daily cut-off times will be returned before the close of the show each day. Coins for the Gold service will be returned no later than the close of the show on Friday, Nov 5.

*Please check with NGC show representatives for daily cut-off times.

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NGC and Bowers and Merena Auctions Proud to Present One of the Finest Collections of 1907 Gold Coinage Ever Assembled

The Rod Sweet Collection Part II has been graded in its entirety by NGC, and the coins will be offered in Bowers and Merena's Mandalay Bay Rarities Sale on October 29, 2004 in Las Vegas, Nevada.

Florida real estate developer Rod Sweet has assembled a truly remarkable collection, the centerpieces of which are Mint and Proof Sets of 1907 Gold Coinage. This is a very popular year in the US gold series due to the introduction of what many numismatists consider to be the two most beautiful coins in our nation's history: the Indian Eagle and the Saint-Gaudens Double Eagle. Rod's belief in the importance and desirability of this single year resulted in his pursuit of not only the business strikes, but also the proofs. As such, his collection includes an example of the beautiful and rare proof Saint-Gaudens Double Eagle, as well as examples of the specimen deliveries for the 1907 Liberty Quarter Eagle, Half Eagle, Eagle, and Double Eagle. Among the business strikes, two of the Indian Eagles are of special significance. The elusive Wire Edge and Rolled Edge coins, while technically patterns, are typically collected as part of the regular issue series. Both are scare-to-rare in all grades, the Rolled Edge particularly so with just 42 examples having escaped destruction in the Mint.

Rod's keen eye for quality is also readily evident in the 1907 Gold Sets. All of the coins are at or near the top of the grading scale for their respective issues, and their eye appeal is breathtaking.

The Rod Sweet Collection Part II also includes a complete Civil War Set (1861-1865) of proof Three-Dollar gold pieces, the "bookends" of which are the rare 1861 and 1865. The coins grade Proof-65 or Proof-66, and most are Cameo, if not Ultra Cameo.

Rod Sweet also assembled a stellar quality 1882 Proof Set that is complete from the Three-Cent Nickel through the Morgan Dollar. Many Cameo and Ultra Cameo coins are included, and the set is of uniform Gem-to-Superb Gem quality.

Visit the Bowers and Merena website, www.bowersandmerena.com, to view detailed lot descriptions for all of the coins in the Rod Sweet Collection. Online bids are also being accepted at that address. The Mandalay Bay Rarities Sale, in which the Rod Sweet Collection is being offered, is scheduled for October 29, 2004 in Las Vegas, Nevada.

Coins from the Rod Sweet Collection Part II

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