The American Numismatic Association Board of Governors has voted unanimously to create the Florence Schook School of Numismatics in honor of one of the Association’s most beloved members, who dedicated much of her life to educating young numismatists, President Barry Stuppler has announced.
Named in honor of the late Florence Schook, who died in 2006, the Florence Schook School of Numismatics will house all ANA educational programs for young numismatists and adults, both online and in the classroom. Summer Seminar will be the flagship program, but classes and seminars at conventions, remote sites and online will also be included.
The Florence Schook School will be accounted for as a separate entity, allowing donors to fund specific classes and certification programs with the assurance that the funds will be used for their intended purposes, Stuppler said. Funding will be used to expand YN programs, including a new "Introduction to Coin Collecting" class, YN curriculum track and an internship program. The ANA also will place qualifying YNs with selected ANA member dealers for summer employment, and develop online mentoring and social networking programs for YNs.
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The United States Mint on Tuesday removed its newly discounted one-tenth ounce 2008 American Eagle Platinum Uncirculated Coin from its online store. Indicators suggest a potential price-driven sellout, with any remaining coins held for inclusion in the Mint’s four-coin platinum set, which includes the one ounce, one-half ounce, one-quarter ounce, and one-tenth ounce sized coins.
The series of collector eagle platinum coins were returned at reduced prices only Friday after a long sales suspension — the coins were pulled in August due to volatile platinum prices.
Collectors who purchased the 1/10-ounce collector coin at the new price paid $134.95. That was less than what the Mint charged in 2007 and substantially lower than the Mint’s initial 2008 price tag of $259.95. Then again, platinum prices have also plunged recently. New York platinum closed on Tuesday at $898 per ounce, which is well off its $2,252 high set earlier this year.
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Gold returned to its recent slump, falling Tuesday along with platinum and oil. A stronger U.S. dollar and fund liquidations were cited culprits for gold’s downturn. For the day, New York gold and platinum futures fell 2.8 percent and 0.1 percent, respectively. Silver was a precious metals standout as it gained a healthy 4 percent.
After two straight session gains, November crude on Nymex gave way and declined $3.36, or 4.5 percent, to close at $70.89 per barrel.
December silver rose 39 cents to close at $10.08 an ounce.
January platinum fell 80 cents to end at $891.70 an ounce.
Gold for December lost $22 to settle at $768 an ounce. It has fallen in eight out of nine sessions, with Monday marking its positive day.
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The U.S. Mint is spending about $12 million in a four-city pilot program in an attempt to dissuade consumers away from their convictions that dollar coins are superior to paper bills. The pros and cons of $1 coins have been debated for years. The first round knockout always goes to the untouched champ, Mr. Paper Note. The bruised coin then pines away within government storage until its next mandated match.
In a cruel twist of fate, the dollar coin has just a few things going for it — coin collectors who find it unique, its production savings, and a government that continually throws money its way. The latter is despite foreknowledge the coin will always drop to the canvas hard as long as the $1 bill is pumped up by adoring consumer fans who use it every day.
$1 Bill versus $1 Coin: Which is the Winner Today?
| $1 Bill and Coin Fun Facts |
$1
Bills
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$1
Coins
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| It takes 56 $1 coins to equal 1 pound (lb), or 455 $1 bills. |
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$1 coins are much HEAVIER for consumers and businesses. |
| Paper money is composed of 25% linen and 75% cotton. $1 coins are made mostly of manganese-brass (88.5%) and copper (6%). |
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Paper money can be folded and shaped to fit nearly anywhere. It’s CONVENIENT. |
| A stack of dollar bills one mile high would contain over 14.5 million notes. It would take 804,672 dollar coins to reach a mile. |
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$1 bills are LESS BULKY. |
| The BEP produced 4.147 billion $1 notes in FY 2007. The United States Mint produced 0.941 billion $1 coins in 2007. |
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$1 bills are USED DAILY in transactions. Where are all those $1 coins? |
| It costs ~16 cents to make $1 coins, and each has a life span of about 30 years. It costs ~ 6.2 cents to make $1 bills, and they have a life span of about 21 months. |
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$1 coins are much more ECONOMICAL. |
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Four numismatic articles are referenced on CoinNews every Tuesday and Thursday. These articles are not authored by us, but we recommend collectors read them for their unusual or interesting content. Have you written or know of an article that should be highlighted on CoinNews? Please let us know! Here are today’s articles:
By Paul Gilkes, COIN WORLD
Silver bullion is bought and sold in various forms for a multitude of reasons including investment, collecting, diversifying assets or as a hedge against inflation. What form of silver bullion to buy is a common question among those thinking about acquiring quantities of the metal. According to GoldPrice.org (online at www.goldprice.org), silver bullion is marketed as silver nuggets; bars, wafers and rounds; and as coins.
Read Silver bullion provides collectors with opportunities »
By David L. Ganz, Numismatic News
The Dow Jones Industrial Average October plummet and the worldwide consequences of Lehman Brothers filing for bankruptcy and its stock going from a 52-week high of more than $50 to a low of about eight cents a share, has brought unparalleled activity in the numismatic market. It has also in the face of wild price swings made rare coins appear to be the pillar of stability.
Read ‘Coins Stay Strong as Stock Market Routed’ »
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