Japan will issue a new colorized Hokkaido commemorative silver coin featuring Japanese red-crowned cranes, a symbol of Hokkaido, flying above Hokkaido’s Lake Toya.

Japan’s Finance Minister, Fukushiro Nukaga, made the announcement Tuesday in a press conference after a cabinet meeting. Mr. Nukaga said a 1,000-yen Hokkaido commemorative coin would be issued this July in time for the Group of Eight summit, which will be held in Hokkaido.

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One of the pleasant side affects of the Coin Modernization and Taxpayer Savings Act of 2008, which would change the metallic composition of pennies and nickels to steel, is the revelation of current and past costs in minting coins.

Figures of coin production expenses are interesting in themselves, but charting their trends is another reminder of the volatility of metals within coins, like that of copper, zinc and nickel.

The cost of minting each penny and nickel today are:

• Penny at 1.26 cents
• Nickel at 7.7 cents

As a side note, the U.S. Mint also provided recent costs to mint the dime, which is 4 cents, the quarter at 10 cents and $1 coins at 16 cents each.

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The House debated on the legislation and finally voted yesterday to change the metallic composition of the penny and 5-cent nickel to a less expensive copper-colored steel.

Although the prices of copper, zinc and nickel metals in coins have declined in recent months, the penny and 5-cent nickel still cost more to make than what they’re worth—resulting in a reported loss of about $100 million every year, or $1 billion over a decade.

It now costs about 1.26 cents to make the penny and about 7.7 cents to make the nickel.

House bill “H.R. 5512, the Coin Modernization and Taxpayer Savings Act of 2008” would seek to change those manufacturing costs by using copper-colored steal, which could cut the cost of making pennies down to about 0.7 cents each. But its recent passage in the House is no guarantee it’ll make its way to the White House for signing.

H.R. 5512 must still go through the Senate and then the President, and not everyone is happy with the current legislation.

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Numismatist Daniel Frank Sedwick featuring Treasure Auction #3 with over 1100 lots, including a rare astrolabe, gold cobs, silver coins, Chinese porcelains and other artifacts.

Winter Park, FL - Numismatist Daniel Frank Sedwick is releasing a Treasure Auction, among the items on the numismatic market today are gold cobs, particularly from the Spanish 1715 Fleet off the east coast of Florida, and this sale features dozens of them, all carefully selected for quality and eye-appeal.

There will be also some small gold ingots and nuggets from the Espadarte wreck of 1558 off Mozambique," commented Daniel Sedwick,

"We offered the first part of this unique collection of gold pieces in our Treasure Auction #1 a year ago, and they were well received. This time we are certain of the shipwreck name, which should boost their interest even further."

Another early important shipwreck find in this auction is the Michael Goldston collection of silver “tumbaga” ingots from a still-unidentified wreck of ca. 1528 off the Bahamas.

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A Florida man has sued U.S. Treasury Secretary Henry Paulson with the goal of recognizing 10 men he says were president before George Washington. He wants Paulson to add these men into the Presidential $1 coin series.

Stanley L. Klos of Palm Beach, Florida would like everyone to know and recognize the men who were Presidents of the United States in Congress Assembled—leaders after the Articles of Confederation were adopted in March of 1781 and prior to Washington’s presidency in 1789.

The men Klos speaks of are Samuel Huntington, Thomas McKean, John Hanson, Elias Boudinot, Thomas Mifflin, Richard Henry Lee, John Hancock, Nathanial Gorham, Arthur St. Clair and Cyrus Griffin. Men, he says and talks about in his book, President Who? Forgotten Founders, who not only held top positions in U.S. history, but signed national documents as the President.

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IRVINE, Calif. – Bowers and Merena Auctions, America’s leading rare coin auction house, returns as Official Auctioneer of the Baltimore Coin and Currency Convention, with the next auction scheduled for June 4-7, 2008, at the Baltimore Convention Center.  

This is the second of three official Baltimore auctions by Bowers and Merena in 2008, continuing their longstanding and ongoing association with the convention.

The auction boasts more than 3,000 coin and currency lots and an impressive list of highlights.

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(Mandeville, Louisiana) – Nationally-known rare coin dealer Paul Hollis, 36, of Mandeville, Louisiana will formally announce his candidacy for the Republican Party’s nomination for the United States Senate on May 12.  A number of prominent numismatists are on his campaign committee, such as John Albanese, Jeff Garrett, Paul Montgomery and Douglas Winter. 

Hollis began collecting coins at the age of six after receiving a Peace dollar from his grandmother.  In recent years, millions of viewers watched him on air when he hosted “The Coin Vault” television program on the Shop at Home network, and he also is known by many collectors and dealers from his earlier work as chief numismatist at Blanchard and Company in New Orleans. 

A political science graduate of Louisiana State University, he is the owner of Paul Hollis Rare Coins in Mandeville, Louisiana.  In addition to rare U.S. numismatic items, he specializes in ancient coins that circulated during the lifetime of Jesus Christ. 

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The Royal Australian Mint has released a special one dollar coin featuring a detector dog on duty to mark the centenary of Australian Quarantine.

The Australian Quarantine and Inspection Service (AQIS) is responsible for protecting Australia’s borders from exotic pets and diseases. AQIS also provides import and export inspection to support access to overseas markets.

The special uncirculated coin acknowledges the work and commitment of AQIS in protecting Australia’s unique environment and our multi-million dollar agricultural and tourism industries. The success of these quarantine practices has resulted in Australia remaining free from many of the world’s worst agriculture pests and diseases.

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Today the United States Mint made their official announcement for the release of 2008 American Eagle Platinum Proof coins.

This year’s coins mark the last"Judicial Branch" design within the three-year platinum coin series entitled “The Foundations of American Democracy.” Starting in 2006, each year celebrated one of the three branches of government.

Along with pricing and design descriptions, which has already been discussed in last week’s CoinNews article entitled "2008 American Eagle Platinum Proof Coins and Pricing," the Mint also listed the mintage and product limits for the one-ounce, one-half ounce, one-quarter ounce, one-tenth ounce and four-coin platinum set.

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Billy G. Crawford’s latest bi-monthly issue of Die Variety News magazine is now available online and for free.

The magazine’s May/June issue #13 sports, as its title suggests, a variety of interesting coin topics that are sure to please the collector. The numerous descriptive photos within the magazine are great in teaching new collectors about various coin die varieties while keeping experienced collectors well informed.

The magazine has started its third successful year in publication. This latest issue continues its tradition of top die variety news, including subjects on:

• An analysis of the 2004-D Roosevelt Dime
  The cover story discusses an apparent double die resulting in "distinct and raised remnants" by Roosevelt’s ear.

• 1988 Lincoln Cent Transitional Varieties
  1988 Philadelphia Lincoln cents mated with reverse designs of 1989 cents.

• Wyoming State Quarter Double Die Reverse Varieties
  Several interesting photograph examples are included that show the doubling found toward the center of some Wyoming quarters.

• Continuation of the Ocean-In-View (OIV) Reverse Doubled Die Nickel Series
  A continuation from the Die Variety News Mar/Apr 2008 issue showing additional coin photos highlighting several doublings discovered in some 2005-P nickels.

• 2006 Lincoln Cent Strange Reverse Specimens
  Specimen examples of raised remnants in the Memorial bay area of the reverse of 2006 Lincoln cents.

• Presidential Varieties & Heavy Abrading
  2007-P George Washington Presidential $1 coin examples highlighting "heavily abraded remnants" in the shoulder area of Liberty. Also, a 2008-P James Monroe dollar specimen.

In addition to the main article topics, the magazine includes its popular sections, “This & That” section, “World Varieties,” “Mint Error Showcase” and the “Variety Spotlight.“

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