Category Archives: October 2010

Morgan Dollars Not Always Considered Beautiful

1878 Morgan Dollar

1878 Morgan Dollar

Behold the Morgan silver dollar. Many have said that it is one of the most beautiful designs used on any United States coins, but that sentiment is not shared by everyone, and it is a fact that early critics described the portrait of lady Liberty as “ugly” and even “obese.” Clearly, there are some marked differences in perception as to the quality of this design.

Few coin series have inspired as much admiration and demand as the dollar pieces designed by Mint Engraver George T. Morgan. The coins with his rendering of Liberty were minted from 1878 until 1921, and were made in five different mints.
The Morgan dollar may very well be the most famous of all coins, and one whose appeal stretches far beyond numismatic circles into the general public. It is revered for its timeless beauty, numerous varieties and for the economic disasters and fiascoes it has played a hand in for the past 100 years.

Before the Morgan dollars were made in 1878 the previous silver dollar had as its design a seated figure of Liberty which was not particularly beloved by the American public. Thus when the new design was introduced there was a great interest in comparing it to other coins of the time. To most observers, the Morgan head was a refreshing relief from the tired seated design.

Artist George Morgan came to the United States in 1876 from England. He was only 30 years old at the time, but he was already an accomplished engraver and came highly recommended when the Mint selected him to join the engraving staff in Philadelphia. His first assignment was to redesign all of the nation’s silver coins, a task that he undertook with great enthusiasm.

Also posted in August 2011 | Leave a comment

Why An Eagle On Our Nation’s Coins?

1986 American Eagle Silver Dollar

1986 American Eagle Silver Dollar

All current American coins from the quarter to the dollar have an eagle in the design on the reverse side. In the past U.S. coins from the half-dime to the $20 gold have used an eagle design. This custom was established by law in the early history of the country because the American eagle is the national bird. It was President George Washington who decided that unlike other countries, our coins should not picture a king or president, but should show something symbolic of Liberty.

Over the years there have been numerous different styles of eagles displayed on United States coins. Some would say that those shown today are not particularly attractive, lifelike, or even accurately portrayed. They are a pretty good cross section of what has been used ever since the beginning of our coinage in 1793. Some were better, some were much worse. There was only one copper coin that ever showed the bird. It was the famous Flying Eagle cent that was minted in 1857 and 1858. That eagle was one of the most attractive and lifelike of any ever used on any coin.

Good or bad in its artistic merits, we are lucky that the eagle was chosen as the national bird and used as a symbol on all our money. Things could have been worse, like the turtle that was used in ancient Aegina on their coins, or the wolf that is seen on many Roman coins. As a matter of fact our founding fathers came mighty close to choosing the turkey as the nation’s bird. There was good reason: It is a native bird, it was a good source of food for the Pilgrim founders and it is not a vicious predator like the eagle.

Benjamin Franklin was the most outspoken proponent for selecting the turkey to represent the country. Had he won out over the eagle fans, we would be the only nation today using that bird as an emblem on its money. In selecting the eagle we join a choice group of countries spanning the ages from ancient Egypt right up to the present. All of them consider the eagle to be the king of birds and a symbol of power and majesty. For Americans it proclaims the might of our nation and freedom to soar to boundless heights.

Posted in October 2010 | Leave a comment

Protect Your Valuable Coins

Single Coin Wooden Capsule Box

Single Coin Wooden Capsule Box

Building a valuable coin collection is fun, but it can also become a nightmare when something untoward happens to them. As sturdy as coins may seem, they are actually very fragile and can be easily damaged by improper handling or storage.
One of the most common errors in taking care of coins is the myth that clean, shiny coins are more desirable than those that are old and tarnished. Yes, those coins seem much more attractive, but when coins are improperly cleaned they can be easily scratched and damaged. A harshly cleaned coin is always worth less than one that is natural and untouched. Best advice is never attempt to clean any valuable coin.

You should also take precautions to see that your coins are carefully handled by anyone who inspects them. Friends who do not know the value of old coins can be careless when viewing your treasures, so don’t hesitate to tell them how important it is to keep them free from marks and abrasions. Dropping a coin on a hard surface is just about the worst thing that can happen to it. Always hold coins over something soft when looking at them. A folded towel on a table works well, and a carpeted floor is added insurance.

It is just as important to make sure that your valuable coins are stored in a secure place. A bank storage box is ideal. If that is not an option, be sure that they are kept in an inconspicuous place where they will be missed by any intruder. Also be sure that coins are stored in a place that is at a consistent room temperature and free from excessive humidity. Your attic and basement, which are the two most frequent hiding places, are without doubt the worst possible choices.

Posted in October 2010 | 4 Comments

American Eagle Gold Coins

In 1986, Liberty, as depicted by Augustus Saint-Gaudens, was selected as the design that would grace the obverse of the American Eagle Gold Coins. The Saint-Gaudens design first appeared on the United States’ $20, or double-eagle, gold piece in 1907, where it remained until 1933. Like their gold counterparts, American Eagle Silver Coins have been produced and sold in both proof and bullion finishes since 1986. They have always featured a rendition of sculptor Adolph A. Weinman’s magnificent Walking Liberty design, originally prepared and executed for the Nation’s first circulating half-dollar coin in 1916.

2010 MS70 Gold Eagle Inaugural Strike Coins

2010 MS70 Gold Eagle Inaugural Strike Coins

Congressionally authorized American Eagle Bullion Coins provide investors with a convenient and cost-effective way to add a small amount of physical platinum, gold, or silver to their investment portfolios. Since their launch in 1986, gold, platinum and silver American Eagles have become leading bullion coin investment products.

American Eagle Proof Coins undergo a specialized minting process, which begins by manually feeding burnished coin blanks into presses fitted with special dies. The coin is struck multiple times so the softly frosted, yet detailed images seem to float above a mirror-like field. Since the United States Mint produces American Eagle Proof Coins, the United States Government guarantees each coin’s content, weight and purity. American Eagle Gold, Silver, and Platinum Proof Coins have a limited mintage.

In 2006, the United States Mint added another member to the American Eagle family of precious metal coins. In a process similar to that used to create the magnificent American Eagle Proof Coins, American Eagle Uncirculated Coins are hand-loaded into the coining press, struck on specially burnished blanks and carry the “W” mint mark of the United States Mint at West Point.

Posted in October 2010 | Leave a comment

Fascinating Coin Fact

A billion dollar coin was once proposed to Congress, and it wasn’t a joke. Someone thought it would make a nice exhibit at the St. Louis Fair in 1904. Plans called for a “coin” to be made that would be forty feet in diameter, thirty inches thick and made of 4,480,000 pounds of pure gold. Each reed on the edge would be six inches across the face, and four and three-fourth inches deep. The 1904 date was to be four and a half feet high, and other letters thirty inches in height. The proposal is probably still under consideration

Posted in October 2010 | Leave a comment