More News at a Glance – December 14, 2010

December 14 2010 by admin in Uncategorized |Comments Off

United States Mint Uncirculated Coins Get a New Look in 2011
United States Mint
The United States Mint today announced that it is discontinuing the satin finish on numismatic uncirculated coins produced for the United States Mint Uncirculated Coin Set® and other products. Instead, beginning in 2011, uncirculated-quality coins will feature a brilliant finish. The United States Mint began using the satin finish for its uncirculated coins in 2005 to be consistent with other products in its portfolio, such as commemorative coins. The satin finish, however, highlights surface marks that inherently result from the coin-handling systems.
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The Mint coins a new phase: After 50 years, Lincoln Memorial gone from the penny
The Washington Post
You may have noticed a small change in your small change. More likely, you haven’t. “Now, when did they do that?” asked Victor Schubert, a lawyer from Racine, Wis., squinting at a freshly minted 2010 penny. “And why?” Schubert and other tourists on the steps of the Lincoln Memorial one recent afternoon were surprised to see a brand-new look to that most familiar of coins.
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The Recovery of Julian Leidman’s Stolen Inventory
The E-Sylum
Court papers filed in New York identify the son of a Diamond District jeweler as the man who allegedly bought a multi-million dollar collection of coins and currency stolen in October 2009 from a Maryland coin dealer’s van as he dined in a Montville restaurant. What the papers don’t show is who the FBI believe was responsible for the theft. A complaint filed by FBI Special Agent Daniel X. McCaffrey, Jr. details how Yan Kandinov allegedly bought the cache for $80,000 from an unidentified individual who said they had “something for him to look at.”
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Napolitano named Bowers president
Numismatic News
Bowers and Merena Auctions, a subsidiary of Spectrum Group International Inc., announced Dec. 1 that numismatic professional Chris Napolitano has joined the 27-year-old auction house as president. A collector since childhood, Napolitano decided to make numismatics his life’s career in 1989 with the founding of Summit Rare Coins, Inc., serving as president and CEO since its inception. Under Napolitano’s leadership spanning more than two decades, the company has handled in excess of $250 million in rare coins. In 2001, Napolitano co-founded American Rare Coins and Collectibles with locations in St. Paul and Minneapolis, which he helped to grow into a $20 million business.
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France Seizes Lava Treasure Coins
Numismaster
France recently seized an unannounced number of third century A.D. Roman gold coins as well as an ancient gold plate allegedly with a pedigree linking the material to the Lava Treasure, according to an Oct. 27 announcement. The Lava Treasure, consisting primarily of ancient Roman gold coins, received its name because the find was discovered accidentally by fishermen diving in the Gulf of Lava. The gulf is off the west coast of Corsica in the Mediterranean Sea. Corsica belongs to France.
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