A virtually non-stop flow of bourse floor traffic, nearly $35 million of coin and bank note auctions and visits by California’s Attorney General and former Governor, Jerry Brown, and Long Beach Mayor Bob Foster, highlighted the busy September 18-20, 2008 Long Beach Coin, Stamps & Collectibles Expo.

"Gold jumped about $40 an ounce on opening day, and we saw many ‘new faces’ among the thousands of attendees.  Thursday is usually a busy day, and attendance this time was about 20 percent higher than recent, previous opening days," said Ronald J. Gillio, Expo General Chairman.

"I’ve had a table at every Long Beach show since 1995, and this was my best opening day Thursday," said Peter Walters of Columbia Collectibles in Irvine, California who specializes in Civil War to World War I era items.

The multiple auction sessions of U.S. and world coins, paper money and tokens and medals conducted by Heritage Auction Galleries of Dallas, Texas, official auctioneer of the Long Beach Expo, generated nearly $35 million in prices realized bidding.

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The number of counterfeit £1 coins in circulation has doubled in the last five years, according to new figures released by the Royal Mint and reported by the BBC. Two percent or 1 in 50 pound coins are fake, and based on production, that would account for some 30 million counterfeit £1s circulating.

In its last Annual Report, the Royal Mint indicates it conducts two yearly surveys and collects a "representative sample base." They noted an upward trend in fake coins, which they "shared with the Police who have had some notable successes in closing down illegal operations during the year."

With the actual figures now made public through the BBC, concern has risen according to news reports. As one cited example, Robert Matthews, former Queen’s Assay Master, said:

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(Edina, Minnesota) – The introduction next year of new designs for the common Lincoln cent is being praised by a coin expert, but he doubts the practicality of pennies in pocket change.

"The Mint has been producing cents for circulation for 215 years since 1793 and they’re fun to collect, but the usefulness of one-cent denomination coins is questionable.  Pennies may go the way of the two-cent, three-cent and twenty-cent denomination coins that were eliminated in the 1800’s," said Gary Adkins of Edina, Minnesota, President of the Professional Numismatists Guild, a nonprofit organization composed of many of the nation’s top rare coin experts.  

"Any new design will be exciting for collectors and should make non-collectors take a closer look at their pocket change.  But this may be the beginning of the end for pennies,” said Adkins.

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2009 Lincoln penny design images were revealed by U.S. Mint Director Ed Moy Monday morning during a news conference at the Lincoln Memorial. The four reverse designs celebrate a different aspect of Abraham Lincoln’s life: his birth and childhood in Kentucky, his formative years in Indiana, his professional life in Illinois and his Presidency in Washington, D.C.

"This is a momentous occasion in the history of our Nation’s coinage because these designs represent the first change in the Lincoln cent in half a century," said Director Moy. 

"These coins are a tribute to one of our greatest Presidents whose legacy has had a lasting impact on our country.  He believed all men were created equal, and his life was a model for accomplishing the American dream through honesty, integrity, loyalty, and a lifetime of education."

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