Brigantine Beachcomber

The Gold and Silver Mine > Coin shortages created several solutions

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Written by Staff Reports Thursday, June 28, 2012 12:00 am

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A weekly column dedicated to “digging out” current information about precious metals, coins and other numismatics.

Coin shortages created several solutions

A previous article spoke of the effects war has on our money. Printing special types of currency during World War II was an example. During the Civil War, another problem developed. As the war dragged on, and the outcome was not assured, the faith in our paper money deteriorated. People started hoarding coins because they were made of a precious metal and in turn spent the paper money. The result was a shortage of coins in circulation, making it difficult for merchants to make change. Having the government mint more coins was not the answer, because those coins, too. would be hoarded. Several solutions developed to alleviate the problem.

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The Gold and Silver Mine > Wartime money an inexpensive collectible

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Written by Staff Reports Thursday, June 21, 2012 12:00 am

A weekly column dedicated to “digging out” current information about precious metals, coins and other numismatics.

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The Gold and Silver Mine > The dying of coins

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Written by Douglas Keefe Saturday, June 16, 2012 05:16 am

A weekly column dedicated to “digging out” current information about precious metals, coins and other numismatics.

In the past two articles I discussed errors that occur during the striking of coins and printing of paper money. Some of these errors can be very valuable. Another thing to keep your eye out for is dye varieties; some of which are common but others can be worth big money.

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The Gold and Silver Mine > Money printing errors are usually caught

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Written by Staff Reports Thursday, June 07, 2012 02:00 pm

A weekly column dedicated to “digging out” current information about precious metals, coins and other numismatics.

Last week’s topic was error coins and what constitutes an error. Today I’ll discuss errors that occur when printing paper money.

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The Gold and Silver Mine > You won’t err in searching for error coins

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Written by Staff Reports Saturday, June 02, 2012 12:00 am

A weekly column dedicated to “digging out” current information about precious metals, coins and other numismatics.

When we make mistakes, they usually end up costing money to correct. However, when the U.S. mint or the Bureau of Engraving and Printing (the people who print our paper money) make mistakes, those who find those mistakes can actually make some money.

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The Gold and Silver Mine > Age not a factor in valuing a coin

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Written by Staff Reports Thursday, May 17, 2012 12:00 am

Submitted by Douglas Keefe

A weekly column dedicated to “digging out” current information about precious metals, coins and other numismatics.

I have mentioned in a previous article that age is not a determining factor in establishing the value of a coin. Quantity available, demand for the item and condition are the three factors that go into the value of a coin, as well as virtually any other collectible.

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The Gold and Silver Mine > Counterfeiting not so rare

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Written by Staff Reports Friday, May 11, 2012 12:00 am

A weekly column dedicated to “digging out” current information about precious metals, coins and other numismatics. 

Counterfeiting is the attempt to produce for a low cost an item that can be passed off as the higher value real thing. Examples are cheap Chinese knock-offs such as Gucci handbags and Nike sneakers. Also, more important is the counterfeiting of U.S. currency. I myself had the misfortune to take a counterfeit $100 bill. Someone had taken a $5 bill, bleached all the printing off it, and printed the design of a $100 bill on the paper. The paper would pass the test with a marking pen, because the paper was genuine, but when held to the light, the watermark was that of Abe Lincoln, not Ben Franklin.

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The Gold and Silver Mine > There’s a dirty secret to cleaning coins

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Written by Staff Reports Friday, May 04, 2012 12:00 am

Submitted by Douglas Keefe

A weekly column dedicated to “digging out” current information about precious metals, coins and other numismatics.

A question I get quite often from my customers is “what can I use to clean my coins?” The short answer is don’t clean your coins under any circumstance! The reason being that no matter what is used to clean a coin, a certain amount of damage will occur to that coin. Also, a cleaned coin looks different from natural coins and cleaning can be detected by collectors. Coins take on a certain appearance due to their age and circulation. Collectors want coins that look natural and in many cases won’t add cleaned coins to their collection.

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The Gold and Silver Mine > Coining dollars wouldn’t be penny ante

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Written by Staff Reports Thursday, April 26, 2012 11:16 pm

Submitted by Douglas Keefe

A weekly column dedicated to “digging out” information about precious metals, coins and other numismatics.

Last week we spoke about the savings that could occur if the government stopped minting one-cent (not penny) coins. Another potential savings could happen if the problem of paper dollar verses metal dollar were resolved.

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The Gold and Silver Mine > When is a penny not a penny?

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Written by Staff Reports Thursday, April 19, 2012 11:30 am

Submitted by Douglas Keefe

A weekly column dedicated to digging out current information about precious metals, coins and other numismatics.

There have been several articles written in the past weeks regarding the Canadian government’s decision to stop minting “pennies.” The only problem is the articles’ reference to the “penny” is incorrect. The coin being retired is actually a “cent.” Canada and the United States are both on a decimal system where the lowest denomination coin is the one-cent coin or one-one hundredth of a dollar. If you were to show someone that familiar coin with the portrait of Abe Lincoln on it (he’s been on it for more than 100 years) and ask what the coin is, the vast majority will incorrectly identify it as a “penny.”

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