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jgenn

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Journal Entries posted by jgenn

  1. jgenn
    My vicarious trip to Brazil
    In 1807, Napoleon forced the Portuguese court into exile. Relocating to Rio de Janeiro, Portugal became the colony -- its kingdom ruled from Brazil. This transfer of power was formalized in 1815 when the Reino Unido de Portugal, Brasil e Algarves was established and Rio de Janeiro became its capital. This is the only example of a European nation ruled from one of its colonies. The Portuguese court returned to Lisbon in 1821 with Brazil gaining its independence the following year.
    Perhaps it was a subconscious impulse from watching the Rio Olympics but when I saw these 8 reales, re-purposed for use in Brazil, in the recent ANA auction listings, I eagerly added them to my collection. Both examples are from the early years of the Portugese court's time abroad.
     
    The first example is a 960 reis counterstamp on a Potosi 8 reales. These were issued in 1808 for circulation in the Minas Gerais Capitania, Brazil's principal gold mining region. According to the Banco Central do Brasil website, they were issued in conjunction with the prohibition of using gold dust for financial transactions to counter embezzlement from the mines.
    My second example is an 1810 960 Reis from the Rio de Janeiro mint, overstruck on a Potosi 8 reales. The counterstriking of 8 reales was superseded by the full overstrikes starting in this year. The host coin's bullion value was only 750-800 reis, at this time; the inflation to 960 reis was done to generate revenue for the crown.
    Both coins display similar designs, the Portuguese coat of arms on the obverse and the armillary sphere on the reverse. The armillary sphere, an astronomical and navigational instrument of huge importance during the Age of Discovery, became a national emblem of the Portuguese Empire.
    ~jack

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  2. jgenn

    A Sky Blue '60

    By jgenn,

    It took a bit of magic to capture this image.
    When viewing a toned silver coin from a certain, special angle you can really appreciate the color, but it can be nearly impossible to capture in a photograph. Somehow, I positioned an OttLite, just right, to maximize the color on this one. Try as I might, I just can't replicate it and now that the coin is encapsulated, there's little hope of success.
    Of all the coins of Spain that I've collected, this is my one late empire example, purchased for my Silver Dollars of '60 custom set. It features one of the better portraits of Queen Isabel II. She was only three when she was proclaimed sovereign and sparked a civil war upon the death of her father, Fernando VII in 1833. Her reign was overthrown in the revolution of 1868.
    The 20 reales of this period closely maintained the dimensions of the 8 reales. It was 38mm, 26.291g and 90% silver. Mine is the more common variety from Madrid with a mintage of 941,000. You can see the less colorful reverse in my custom set.
    http://coins.www.collectors-society.com/WCM/CoinView.aspx?sc=453782
    ~jack

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  3. jgenn
    I was inspired to look at my collection in a different light.
    When I contemplate my collection, I generally think about dates, types, grades and values; and I visualize linked pairs of obverse and reverse sides. I enjoy learning about the history and personalities associated with the times, places and persons represented by the coins. so they are part of my reflection as well. However, when I saw the photo montage that one of the collectors ATS put together, of the best face of several of his coins, I was inspired to do something similar from my collection.
    Many choices were easy and I found that focusing on the eye appeal of just one face gave me the freedom to make more artistic judgements. I was happy to see that I ended up with a representative date range and good variety of types and countries. They are all world crowns but that is what I collect. Curiously, none are my most costly or highest grades or from my competitive sets. I have known for awhile that I don't greatly care for busts so the fact that none were selected was not a surprise. This was a fun exercise and I think I've gained some insight into what I really value in the coins I collect. Hopefully, this knowledge will guide my future collecting decisions.
    I hope you enjoy viewing my favorite eight faces as much as I enjoyed the process of selecting them.
    ~jack

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  4. jgenn

    Nephew's First Coin

    By jgenn,

    He's a cute little monkey, alright!
    I have enjoyed reading your posts about buying coins for your young family members and finally it's my turn. My nephew is only a few weeks old and I've already got his first coin. Of course I fantasize about him becoming a coin collector like his uncle but I'll be happy if he doesn't sell it at the first opportunity.
    Only time will tell about my nephew's future interests, but it does make me think about how what we post on-line now could very well be retrievable for as long as humans care to archive the internet. If my nephew ever cares to find out how I spent my spare time he can discover my passion for numismatics right here.
    ~Uncle Jack

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  5. jgenn

    Lights, Camera, Action!

    By jgenn,

    Most of the action is in re-positioning the lights.
    Today I took one of my best coin photographs.
    I've been working on improving my photography skills and I've re-imaged much of my collection over the last two years. My setup is fairly modest; an inexpensive copy stand and refurbished Canon SL1 DSLR, with macro capable lens, that I got for a super low price last Black Friday. Frankly, I'm not sure I see much improvement over my previous camera, a Canon G9, since I mainly photograph large sized coins. Both have the essential features; macro focus and white balance control.
    The key to better coin photography, however, is proper lighting. You could say that each coin requires a specific setup of lamps and I find that to be mostly true with the variety of older world crowns that I collect. Two types that I find especially difficult to photograph are the darkly toned coins with muted luster and the highly lustrous, low mint state, ones with many surface imperfections. Small changes to angles can help minimize how distracting scratches and other surface dings will appear, so I take many shots with slight lighting alterations or coin rotation.
    Photographing encapsulated coins presents additional challenges. Scratches and abrasions on the slabs can be managed with lighting angles or polishing the plastic but the big problem for certain situations is the reflection of the light source off the surface of the slab. This limits your options for getting your lamps close to the coin and at a highly perpendicular angle.
    I posted a journal about this thaler before, shortly after I acquired it. Since then, I got the coin re-holdered for free, due to the incorrect label, so that took care of the many scratches on the original slab. But this is a very darkly toned subject with rich colors that are difficult to bring out. After dozens of shoots with different types of lamps and arrangements I finally captured both the colorful toning and design definition in the way that I wanted. I lit the sides with two OttLite tube lamps at nearly perpendicular angles to bring out the color. Then a bright CFL positioned at 12 O'clock at a 45 degree angle gives the steed a daylight-like direction for highlights and shadow, as well as definition for the other design elements. I only gave the image a small bump in contrast and saturation -- not very much was needed.
    I know many of today's collectors go wild for colorfully toned coins. When it comes to older worlds crowns, however, I'm lucky to fine nice, problem-free examples so I can't be too choosy. If it came down to the option for a new crown to add to my collection or a colorful example of a coin I already have, I would probably choose the one I don't have. Still, I'm proud to show off an example of a happy accident of what we would now consider improper storage in a sulfur laden paper envelope.
    ~jack

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  6. jgenn
    The challenge -- to build a birth-year set from only silver dollars. The dilemma -- only a few types were minted in 1960.
    My favorite type is the silver dollar, or more precisely, 36-42mm diameter coins, at least 23g, that are 50% or more silver (my definition). Also known as "crowns", these have been popular with collectors through the centuries, boosting the survivability of most varieties, even those with low mintages. The large surface area allows for more design detail and I like the way they fill up a slab. I prefer them so much that I avoid collecting anything smaller.
    In the US, overproduction of silver dollars to satisfy the provisions of the Pittman Act fully stocked the Treasury vaults and halted their production. The subsequent worldwide economic disruptions of the Great Depression and World War II further diminished the demand for large silver denomination coinage. Countries that could afford to issue silver coinage continued but the trend towards non-precious metal coins became widely adopted. The US Treasury continued to release Peace and Morgan dollars until demand finally caught up with supply in 1964. So there are no US silver dollars minted in 1960.
    Fortunately, a few countries were still issuing large silver coins. The Canadian silver dollar is the perfect example. However, to keep this set from being ridiculously small I've pushed the boundaries a bit. One idea was to ignore the century and focus on the year portion of the date. This opens up wonderful opportunities for silver dollar types including the US seated liberty of 1860. I've actively modified my search for interesting world crowns to seek '60s as a priority.
    Another idea was including exonumia. I only found out about So-Called Dollars -- those dollar-sized medals struck to commemorate American themes -- recently, when reading our chat boards. The earliest of these are nearly 200 years old. Naturally, I was excited to find that there were several struck in 1960. The one I picked out nicely fits my requirement.
    I'll conclude this journal entry with a link to my set (http://coins.www.collectors-society.com/WCM/CoinCustomSetView.aspx?s=19493) and a preview of my So-Called Dollar, the Mumey Pony Express Centennial medal, HK-584.
    ~jack

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  7. jgenn

    Second Chances

    By jgenn,

    The two year wait for the coin that I won.
    In 2013, I told the story about the auction that I participated in where I saw the lot hammer at my pre-bid price. Later, I found out that a floor bidder had the lot reopened, but by then I had stopped watching the on-line feed so I didn't get the opportunity to counter-bid (I would had gone at least one increment higher).
    Now I can tell the rest of the story. That same coin came up for auction in the Rudman Collection of Mexican Coins, Part II. It had never been entered into Isaac Rudman's NGC registry set so I had no idea that he or his agent had successfully lobbied the auctioneer to reopen the lot that I won. The good news is that on the second go-around, I won the lot for a few dollars shy of my pre-bid price from 2013.
    My goal in seeking out this coin was to bring together a nearly complete set of Charles III pillar dollars to complement my portrait collection. I was in second place to Mr. Rudman in that category but I have a few coins in my set that he did not; I was hoping to win enough to improve on his completion ratio. As it turned out, the truly rare varieties got impressive bids. Curiously, several of the scarce overdates hammered for twice what I expected -- and these were all in details grade, too. I guess they looked much better in hand or someone else felt the overwhelming need to fill in those last slots. In the end, I picked up three new examples for my set and one nice upgrade but fell short of my completion goal.
    I fully recognize that the medium grade varieties that I've acquired will be poor investments, however I see more value in making sets like these available for public view. The internet, and sites like the NGC registry, let us publish our own virtual catalogs, giving collectors an alternative to "buying the book". Not that I'm suggesting you don't acquire the key references in your chosen field but some of those classic 8 reales references are out of print and quite expensive!
    Here's the link to my previous post:
    http://coins.www.collectors-society.com/JournalDetail.aspx?JournalEntryID=14583
    And here's my second chance lot (photos by Heritage Auctions)
    ~jack

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  8. jgenn

    Custom Sets Question

    By jgenn,

    To go big or stay focused?
    Congratulations to all the registry participants and winners. Now that the 2015 awards have been decided we can take a peek at the judges' selections, and with 90,000 registry sets out there, I know I will be viewing most of these for the first time.
    Like many of you, I spent a good portion of 2015 creating, organizing and polishing my sets. I've become a big fan of custom sets and I added four last year. I especially like the control we have over the size of our sets and I've kept mine pretty small and focused. The gallery page, where you can see fifteen coins (30 individual photos) at once including the owner's annotations, is my favorite way to view a set. But I will admit that I'm not likely to go more than two pages deep. Personal preferences aside, I wonder if keeping my sets so small was the best approach.
    One of the custom sets I created last year is the pillar dollar companion to my 8 reales busts of Charles III. Although they are chronologically adjacent, the pillar dollars are more desirable to collectors and I (and my wallet) opted for a lower average grade. But now I wonder if I should have combined them together. After all, many of the top custom sets feature considerably more coins than I am contemplating.
    I would like your opinion -- should I keep my Columnarios de Carlos separate or roll them into the Amazing 8s?
    Here's one of those pillar dollars from the Viceroyalty of Peru, Lima mint and a link to the set.
    http://coins.www.collectors-society.com/WCM/CoinCustomSetGallery.aspx?s=19381
    ~jack

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  9. jgenn

    A Tale of Two Cities

    By jgenn,

    It was the best of thalers, it was the worst of thalers...
    Several city-view thalers were up for sale this November and I acquired one of Frankfurt am Main and one of Regensburg. Minted just a few years apart, they are from the last few decades of the Holy Roman Empire. Both of these were Free Imperial Cities, subordinate only to the Emperor, and had important roles in the Empire; Frankfurt was the city where kings and emperors were crowned and Regensburg hosted the principle decision making body, the Imperial Diet. Both are well struck with minimal wear but otherwise, they are a contrast in appearance.
    The Frankfurt thaler has muted luster with significant toning, somewhat uneven and with a few crusty areas in the legend. The city view is in landscape style and the toning adds a weather-like effect as if a rain storm is passing through. It's quite ornate with elaborate framing of the city arms and the radiant triangle, caduceus and cornucopias symbols.
    The Regensburg thaler is highly lustrous with only slight toning. The obverse shows the portrait of Emperor Joseph II and the reverse is a portrait of the city -- engraved on a large scale, accentuating its importance and grandeur, and features an impressive level of detail -- its precise lines are more in the style of an architectural drawing.
    I know it's a stretch to paraphrase Dickens' famous first line with any relevance to these coins, but to me it is mainly about the range of Regensburg city view coins that were on offer. I chose the one with the best eye appeal but some may regard it as the worst because of its details grade. Between the two pictured here, I appreciate the qualities of the different styles, however I find the Frankfurt view more appealing. Toning and details grades generate strong opinions among collectors. Which city view do you prefer?
    I'll post the full coin photographs with grades on the chat board.
    ~jack

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  10. jgenn

    England without a monarch!

    By jgenn,

    A relic from the 'Interregnum'
    King Charles I lost more than the English Civil War. In 1649 he lost his head and England began a period of eleven years without a monarch. Even so, crowns were still minted.
    1658 crown of Oliver Cromwell, Lord Protector of the Commonwealth of England, Scotland and Ireland, a single year issue as he died that September. The crown is noted for its high strike quality due to the mechanized milling and press process introduced by Pierre Blondeau, former engineer of the Paris mint. The dies were produced by the Royal Mint's chief engraver, Thomas Simon. All issues show an 8 punched over 7 and many have the die crack through the lower obverse.
    Cromwell ascended to this position, king in all but name, from his distinguished service in the Parliamentarian army during the English Civil War. The resignation of Lord Fairfax, lord general of the army, who opposed the execution of Charles I, left Cromwell at the head of the most powerful faction of the new republic in 1649. He assumed full control with the title of Lord Protector in 1653. At his death, his eldest son assumed the title but could not maintain the military dictatorship. Charles II gained the throne in 1660, ending this brief period of England without a monarch.
    ~jack

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  11. jgenn
    would smell as sweet -- but a better photograph can't hurt!
    My original title for this post was 'Most Subtly Improved', a nod to Gary and Alan's recent posts about their photography, but I could't resist the Shakespearean jest. As my photography skills slowly progress I have greatly improved many of my early coin images but sometimes it's the ones with a subtle improvement that can really catch your attention. That's the case with my Pezza della Rosa or Rose Dollar and I hope you'll agree. The nature of the design is such that nearly any photograph cannot detract from its inherent beauty,
    My initial focus for collecting was the portrait eight reales of Charles III of Spain. To be honest, I have become quite bored of seeing his bust; and those of monarchs in general. When I broadened my collecting interest to all world crowns I actively sought other types of design. I became particularly enamored with the pezza della rosa, from Livorno in the Italian state of Tuscany. Interestingly, it's one of several crown sized silver coins that were minted there. Ducats or piastra were made to trade on par with the high value ducatons from the Dutch Republic. Talleros had a value equal to the thalers of the German states. The pezza della rosa, also known as pezza da otto reali, was the local equivalent of the Spanish 8 reales. As an important port and trading center, having local coins with similar values to foreign coins eased commerce and gave the ruler the seigniorage, the profit on the difference between the face value and cost to produce the coins.
    My example is from 1707, during the reign of Cosimo III, the penultimate head of the famous Medici family. Initially, I lit the coin with a typical 2:00 and 10:00 arrangement. For my slightly improved version, I positioned a Jansjo at a low angle at 12:00 and one at a slightly higher angle but also near 12:00 to light the bottom half of the coin. For these early milled, lower relief coins, I seem to get better results from a setup that tries to approximate the 'in-hand' look.
    ~jack

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  12. jgenn

    My Three Suns

    By jgenn,

    A glorious light shines on former Spanish colonies.
    Three of my favorite 8 reales are from the former colonies of the Spanish Empire in the New World. The hopeful aspirations of these newly independent nations are reflected in the beautiful sunface designs of the Provincias Unidas del Río de la Plata, Republica del Centro de America and Republica Sud Peruana. The birth of new nations is a politically contentious process -- these republics had to deal with years of internal and external strife to emerge as the nations we recognize today.
    1813 8 reales of the former Spanish Viceroyalty of the Rio del la Plata that included parts of modern day Argentina, Uruguay and Bolivia. This is the first year of issue and was minted in Potosi. The sunface design on this coin is known as the Sol de Mayo from the story that the sun shone forth from the clouds at the declaration of the new, independent government in May of 1810. The design is similar to the heraldic device called the 'sun in splendor', notable for having alternating straight and wavy rays.
    1825 8 reales of the former Spanish Captaincy General of Guatemala that included modern day Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Los Altos (which would become the Mexican State of Chiapas). This is the second year of issue as was minted in Nueva Guatemala (Guatamala City). In my opinion, the obverse design embodies the idea of the light of freedom dawning on a newly liberated land.
    1837 8 reales of the short lived Republic of South Peru that comprised part of modern day Peru and Bolivia. This is the first year of issue and was minted in Cuzco. This sunface is thought to an Inca design, perhaps representing the sun god Inti. The complex reverse design depicts a cornucopia of gold from the Peruvian coat of arms, a crowned tower that some sources cite as the Inca fortress of Saksaywaman overlooking the city of Cuzco, a volcano (perhaps El Misti, one of Peru's most active), and a ship in the ocean. Coincidentally, Charles Darwin noted volcanic activity in the area when he arrived in Lima on the second voyage of the HMS Beagle in July of 1835. Perhaps the engraver was commemorating the visit of this important voyage of discovery.
    ~jack

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  13. jgenn
    I don't collect many US coins but they fit nicely into a mint type set.
    In a rare case of planning ahead with my coin acquisition strategy, I picked my US silver dollar types so that they each came from a separate mint. The set is now complete and I've created a custom set in the Thematic & Topical Coins section to show them off.
    coins.www.collectors-society.com/wcm/CoinCustomSetView.aspx?s=19490
    Here's a photo teaser.
    ~jack

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  14. jgenn

    Light and Shadow

    By jgenn,

    Sometimes a strong lighting angle can bring out a coin's best appearance.
    The lamps that I use for my coin photographs are too bulky to allow placement near the camera lens so I have to experiment with different angles in relation to the plane of the coin's surface. I have a couple of small LEDs lamps on order that will allow me to get close to a perpendicular angle, but until they arrive I have to make due with what I have.
    I've read advice that for coins with portraits, you should try to light the face in a natural way -- as if lit from above by sunlight. Here's my best attempt at that on a young Catherine the Great from a 1764 Rouble minted in Saint Petersburg.

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  15. jgenn
    What do you think of this type of coin presentation?
    I love the look of old historic maps so I thought I would try to use one as the background with a coin of, roughly, the same period. My coin is a 1629 Scudo of Odoardo Farnese, the Duke of Parma and Piacenza, from 1622 - 1646. The map is from 1699, by Phillip Lea of Cheapside, London. I think the map helps to set the coin in its historic, as well as geographic, context.
    ~jack
    edit: I posted a larger image to the chat board.

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  16. jgenn

    Two goals in one!

    By jgenn,

    An overdue report on my January world coin activities.
    I'm not sure if it's the same with US coins but I think the January Heritage, Stack's Bowers, Triton and Goldberg auctions have the best selection of rare and premium quality world coins of the year. Unlike last year, when I was completely shut out of January's world coin auctions, I scored a few goals this time around. One coin was literally two goals in one. I wanted to add a Swiss Thaler to my collection of world crowns and I've also been on the hunt for a city view type coin. My new coin is a Basel Thaler Dav-1746, KM# 126, undated but circa 1676 according to Heritage or 1737 according to Numismaster, with a lovely city-view reverse.
    Basel joined the Swiss Confederacy as its eleventh canton in 1501, shortly after the conclusion of the Swabian War in which the Swiss armies outfought the armies of the House of Habsburg and the Swabian League. It remained a Prince-Bishopric in the Holy Roman Empire until joining the Swiss Reformation in 1528. The Treaty of Westphalia of 1648 offically separated the Swiss Confederacy from the Holy Roman Empire. Basel was one of the first areas to be conquered by Napoleon in 1793 leading to the collapse of the Swiss Confederacy and reorganization into the short-lived Helvetic Republic of 1798-1803. Today, Basel is a popular destination for cruises on the Rhine river.
    The obverse of this nicely toned coin features the bishop's crosier, or staff of office, as enshrined on the Basel coat of arms, within an adorned circle. The reverse is the city view, showing the city and the bridge over the Rhine with lesser Basel in the foreground, founded to guard the bridgehead. This variety is unique in the complete lack of lettering on the city view side as well as absence of Basel's heraldic animal, the winged worm known as the basilisk, unless you consider the curvilinear ornamentation surrounding the coat of arms as a very abstract representation of the creature.
    ~jack

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  17. jgenn
    Somehow this coin got rotated almost 180 degrees in its holder.
    I put in some strong bids but was not able to win any coins in several world coin auctions this Fall. For the 8 reales collector, it was a special time because quite a few ultra rare varieties were on the block. A 1733/2-MXF in VF-35 sold for $18,800 in Baltimore and a 1778 MoMF in XF sold for over 14000 euros in Barcelona.
    Last month I was able to take Friday off and visit the Baltimore Show. I enjoyed the dealers room and got some opinions on a few of my ungraded 8 reales. None of the dealers I approached were very interested in the coins that I brought to sell and I didn't find any that I really needed to add to my collection.
    What I did accomplish was to submit two coins to NGC for re-holdering. One coin I knew was going to be handled for free because the label was wrong. That was the Thaler that I bought at the previous Baltimore Show. The holder was terribly scratched so I really wanted the new holder more than the label correction.
    My other coin somehow got rotated almost 180 degrees in its holder. I bought it that way so it was nothing that I did to it. It wasn't loose in the insert and I tried to get it to shift by tapping the case with no luck. Fortunately, the NGC representative accepted it as a free re-holder, too. So the 'fix' is to take it to a show and get NGC to agree to re-holder it for free. The return postage was paid by NGC.
    The coin in question is a 1758 Écu minted in Bordeaux, France. It's part of my growing world silver crown collection. At the time it was minted, France was embroiled in the Seven Years' War, fought in Europe, North America, Central America, the West African coast, India, and the Philippines. In the US we call it the French and Indian War. It had a huge impact in North America when it concluded in 1763 -- France was forced to cede all of its North American territory East of the Mississippi to Great Britain and Spain ceded Florida to Great Britain as well. A few years later the nascent United States of America would claim all of this British territory south of the Great Lakes for its own. In 1803 Napoleon sold the rest of the French Territories to the US with the Louisiana Purchase, ending French colonialism in North America.
    ~jack

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  18. jgenn

    Hey, this guy has a face!

    By jgenn,

    When a details coin looks better
    The leeuwendaalder aka lion daalder was first minted in the province of Holland in 1575 during the revolt against Spanish rule. By 1581 the seven Northern provinces were able to gain their independence, forming the Dutch Republic, formally recognized by the Spanish Empire in 1648. Freed from the burden of supporting a monarchy, the Dutch became a trading powerhouse, developing a globe-spanning colonial empire and the largest merchant fleet in the 17th century. The lion daalder was minted in six provinces and several cities; as an early trade dollar, it circulated widely including the Middle East and the North American colonies (the Dutch colony of New Netherlands was ceded to England in 1664, its capital, New Amsterdam, was renamed New York). The coin picked up the nickname, "dog dollar", in the English colonies, probably because the rampant lion design on the reverse lost much of its distinguishing detail as it became worn.
     
     
     
    Produced from roughly finished planchetes, these coins typically exhibit multiple weak areas. A common problem is the head of the knight. I've searched for nice examples but many, even those with AU/MS grades, are greatly lacking eye appeal. But then I came across this shipwreck salvage coin and I was immediately drawn to the strong detail of the obverse design and especially the face of the knight. The coin is attributed to the wreck of the Kampen, part of a Dutch East India Company convoy that sank in 1627. Although it grades AU details, I think it's one of the better examples of this historic Dutch trade dollar.
     
     
     
    ~jack

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  19. jgenn
    Beware the counterfeits, unofficial restrikes and modern forgeries!
    It's only natural that the world's most popular coins are the target of fraud. For the 8 reales, this has been a problem for over 200 years. Counterfeits, meaning those struck in the same time frame as the genuine issue, used less silver so that the counterfeiter gained by the difference in precious metal. Unofficial restrikes were produced after the genuine issue, were mostly faithful to design as well as silver content, and intended for bullion trade. The modern forgeries are meant to deceive collectors.
    Dr. John Leonard Riddell, during his appointment as melter and refiner of the New Orleans Mint, cataloged a wide variety of counterfeit 8 reales in "A Monograph of the Silver Dollar: Good and Bad", published in 1845. At the time, 90% of silver dollars circulation in the US were Mexican or the earlier Spanish American issues and he reported that roughtly 1% of these were counterfeits. These can be identified by careful examination of the design details as well as measurement of weight and specific gravity. One of the better known examples of large scale 8 reales counterfeiting was produced in Birmingham, England. The technique of bonding thin silver plating to copper was developed in Sheffield in the mid 1700's and was thereafter adopted to the task of counterfeiting at Birmingham. The initial issue was a tactic in the war with Spain to discredit Spanish bullion. Today, some of these contemporary counterfeits are more valuable than the common genuine issue.
    It was the overwhelming popularity of Spanish silver coins in the Far East, and specifically with China, that drove various nations, including the US, to restrike portrait 8 reales in the late 1800 and early 1900's. This is a controversial topic to some (see my note on source, below). Silver coins of this type commanded a significant premium to other bullion issues, fineness not withstanding. Advanced forms of die copying became available after 1830 with the result that the best of these restrikes have near perfect details, making authentication extremely difficult. The side of the coin that is often ignored, however, can be the key to spotting the fakes. 8 reales coins, as far back as 1732, have employed edge designs; understanding how they were made and the equipment that was used is highly relevant. Because the design was produced using two parallel dies, the telltale sign is the presence of two areas where the edge design overlaps by a small amount, each exactly opposite the other around the circumference of the coin. Many restrikes can be detected because they only show one area of overlap. Other diagnostics are known and the serious 8 reales collector should become familiar with them.
    You can imagine the technical advantages the modern forger has over previous generations. And nowadays, replicas do not need to be made in large quantities to make a profit. Perhaps perfect copies can be made, if not now, then in the near future. The trick becomes how to make them appear to be as old as the genuine issue. Modern technology can assist the authenticator, too. One technique that can be employed is X-ray fluorescence (XRF), a non-destructive surface analysis that can determine the makeup of alloys. Until the invention of the MacArthur-Forrest cyanide leaching process in 1887, significant trace elements, unique to the geology of the mine site, were present in all silver alloys. Thus, the trace amounts of gold and platinum from the mines of Mexico are a diagnostic signature for silver alloys of that place and time. Likewise, modern contaminants should never be present in the genuine alloy.
    If you have an interest in collecting 8 reales, please research the defining characteristics of the various issues. To play it safe, as I mostly have, you can stick to certified coins but remember, a certified coin is not a guarantee of authenticity but only a guarantee of your investment (as far as the TPG's policy defines it).
    My source for this information comes almost exclusively from the posts of Robert Gurney (aka swamperbob) at coincommunity.com. I especially recommend the "1789 8 Reales" http://www.coincommunity.com/forum/topic.asp?TOPIC_ID=142623 thread. He, Gord Nichols and John Lorenzo plan a book on 8 reales counterfeits that will greatly expand on the topics of this post. If this subject really interests you, please visit the "Update on GNL book on Counterfeits - The Good news" http://www.coincommunity.com/forum/topic.asp?TOPIC_ID=177878 thread and express your enthusiasm about getting this information published.
    I'll leave you with a few images of an 8 reales that displays the overlap of the edge design that one would expect to see on a genuine portrait 8 reales from Mexico City.
    ~jack

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  20. jgenn
    I bought, sold and traded at my first coin convention and I'm darn sure the dealers got the better bargain, but I came away with my shirt and two new coins for my small but growing early modern world silver dollar set.
    I didn't attend any auctions and only visited for a few hours on Saturday morning but I got most of my goals accomplished. My main purpose was to get an opinion on a raw 1860 Seated Liberty Silver Dollar that I won on Ebay. After showing it around I felt confident enough to send it off for certification instead of sending it back to the seller.
    I also brought a few coins to trade and after showing them to a half dozen dealers, and failing to get the cash value I wanted, I came across a table with a stunning thaler featuring a design that I have been seeking for some time. I did a quick lookup for pricing and traded two of my certified 8 reales and a few bucks for it. It's unfortunate that the NGC label was incorrect, as I found out later -- the specific variety of this coin is priced at least $50 less than the variety matching the label.
    The correct attribution for this coin is a 1663 German States thaler from Brunswick-Luneburg-Celle, Davenport No. 6521, minted in Clausthal and distinguished by the mint master's initials LW, for Lippold Weber. It's gorgeously toned, especially on the side featuring the leaping stallion. The holder is dreadfully scratched, as you can see in the attached photo, so it will go back to NGC for a new case (it should be a freebie due to the "mechanical error" of the label), but I'm thinking it might warrant a regrade.
    ~jack

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  21. jgenn
    The story of Antonin Prokop highlights one of the important qualities of a serious coin collector -- sheer persistence.
    The Czech numismatist, Antonin Prokop, lived and worked in Russia at the beginning of the 20th century and assembled an exceptional collection of Russian coins during Tsarist rule. In 1919, however, the Soviets considered it communal property and confiscated the collection. It was subsequently auctioned off to foreign dealers. Prokop was able to leave Russia in 1921, taking his family to the recently formed Republic of Czechoslovakia where he started a new business and began the process of rebuilding his collection. He was able to buy back some of his original pieces and by the middle of the century, he had again assembled a world class collection.
    Antonin Prokop died in 1954 but later in the same year Soviet influence would once again claim his collection. This time, the Communist regime consigned the entire lot to be melted for its precious metal content. Fortunately, it was saved from this fate by the head of the numismatic section of the Czech National Museum and was quietly preserved. After the 'Velvet Revolution' of 1989, the collection was returned to Prokop's family.
    Today, the significant portion of the Antonin Prokop collection of Russian coins is considered a national treasure and housed in the National Museum in Prague. A lesser portion of his collection was auctioned to the public in 2003 by Aurea Numismatika. I thank Dr. Jarmila Haskova for preserving this bit of numismatic history.
     
    My love of big, old silver coins is not limited to 8 reales. I'm working on a type set of silver dollar sized coins from around the world, mostly 18th century, and this interesting story gives me a chance to show off one that I have recently acquired. This is an example of the principal silver coin of the Russian Empire, the rouble. It is from the early years of the reign of Elizabeth, second-oldest surviving daughter of Peter the Great. Roubles shrank in size and fineness over time -- this one, minted in Moscow, is 25.85 grams and 80% silver. And, of course, it is pedigreed to the Antonin Prokop collection.
    ~jack

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  22. jgenn
    I have an example of this coin as a silver proof but I didn't know they were minted in gold.
    My last journal was about my fencing coin custom set so I wasn't planning on writing about this topic so soon, but I spotted this coin on a German auction site and was very surprised to find out that it even existed. Like nearly all other coins depicting fencing, this is an Olympic commemorative. The historic French mint, Monnaie de Paris, produced silver 1-1/2 euro and gold 10 euro proof coins in 2006 for the 2008 summer games in Beijing. Now I have a gold example to go with the silver one in my collection.
     
    As I mentioned in my other journals, fencing coins are minted by many different countries but it's clearly an appropriate subject for France. The French fencers are no strangers to the Olympic podium, having won over 100 medals. They and the Italians have dominated the sport over the years, though the trend is more evenly distributed in recent times. USA fencers have won several medals in the last three Olympics (and I'm still waiting for the US mint to produce a fencing coin).
     
    The sport of fencing began in France in the 17th century and grew out of the need to learn and practice how to handle a sword for the purpose of dueling. Although dueling was universally outlawed by the early 17th century, it was deeply rooted in European culture and continued to be practiced by the aristocracy, spreading to military officers and higher social classes in more recent times. Being able to defending one's honor was considered a necessity in the days before libel lawsuits. From a business standpoint, your reputation was used to secure a letter of credit -- refusing to defend your honor could be equated to refusing to honor your debts. Pistols became the dueling weapon of choice in the 18th and 19th century before the phenomenon finally died out. However, the last duel with swords, according to Wikipedia, occurred in 1967 between two French politicians.
    This beautiful French 10 euro coin has a obverse design featuring the three fencing weapons; épée, sabre and foil superimposed on a globe pointing to Beijing, denomination over the arctic and date over the antarctic . On the reverse is a nicely executed image of two foil fencers with the Olympic date visible as if stenciled on the back of one of the fencers. The coin is 22mm in diameter and 8.45g of 0.92 fineness gold. Mintage of 1,000.
    ~jack

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  23. jgenn
    I have a bunch of nice coins but only two slabbed examples so far.
    The ongoing Winter Olympics has inspired me to start organizing my collection of modern commemoratives featuring the sport of fencing. Although fencing is not a winter sport, it is one of five sports which has been featured at every one of the modern Olympic Games. As I mentioned in one of my journals from last year (http://coins.www.collectors-society.com/JournalDetail.aspx?JournalEntryID=14114), I have been assembling a collection of fencing coins from mostly raw examples. The first two in my custom set (http://coins.www.collectors-society.com/wcm/CoinCustomSetView.aspx?s=15290) are from slabbed purchases of coins that I had already collected in raw format.
    The earliest of my fencing coins is from the massive issue from the Royal Canadian Mint commemorating the 1976 Montreal Olympics. The large size of this first major Olympic commemorative issue has had the unfortunate effect of characterizing Olympic commemoratives as having little collecting value. This is certainly true of this run which remains relatively inexpensive. As others have commented on their journals, modern coins are very questionable investments. For me, these are just for fun.
    The coin pictured here is the 1976 Montreal Olympics fencing coin, series 6, number 22, mintage of 1,985,257, with satin finish. I also have an example of the proof finish that I will get slabbed some day. ~jack

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  24. jgenn

    My First US Silver Dollar!

    By jgenn,

    Although I bid on many world lots, the first win of the year was an 1846-O Seated Liberty $1
    Happy New Year fellow collectors! I started my New Year by participating in several of the big world coin auctions held in January, but failed to win lots, including any of the 8 reales from Guatemala that our esteemed NGC registry colleague, Isaac Rudman, offered in the Heritage World & Ancient Coins Auction in New York. So my first win of the year was a US coin from the Orlando FUN auction.
    This particular coin has been on my want list after I was made aware of an interesting book published in 1845, "A Monograph of the Silver Dollar: Good and Bad", written by Dr. John Leonard Riddell, during his appointment as melter and refiner of the New Orleans Mint. The book catalogs the silver dollars circulating in the US at the time (1833-1844) and includes facsimile images and assay data on 425 different varieties, providing a reference to help distinguish between the genuine and counterfeit. It is an exhaustively researched snapshot of US specie and an important historical record.
    What I find so fascinating, as an 8 reales collector, is the following quote: "More than 90 per cent. of the Dollars in general circulation in this country, bear the Mexican stamp. This arises from two facts: 1st. There is far more silver produced from the mines of Mexico, than from the mines of all the world besides: 2d. It is, and has been, the policy of that government, to prevent the export of uncoined bullion, the government deriving a large revenue from its coinage, amounting, I have been informed, to 10 per cent. During the days of Spanish rule, near $23,000,000 in silver were annually obtained from the mines; since the Mexican independence probably $15,000,000 would more nearly express the annual amount. The Mexican Dollar, at the present day, holds the place in the commerce of the world, held forty years ago by the famous Spanish American Pillar Dollar."
    And to further explain why early US dollars are so expensive to collect, "The coinage of Dollars in the United States, virtually commencing in 1795, has never been large. The policy of our government has been to issue a great preponderance of halves, and the smaller denominations of coins, under the impression that they would be less likely to be exported from the country."
    So, for my first US silver dollar, I selected the first one issued by the New Orleans Mint, a coin of melted and refined silver with a significant proportion from 8 reales coins that were removed from circulation.
    ~jack

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  25. jgenn

    The 8 Reales Pinnacle

    By jgenn,

    My Colonial Mexico City 8 Reales Type set captures the top spot -- sort of...
    Last year, I worked at completing the Colonial Mexico City 8 Reales Type Set with the hope that I might get the top spot. This set is eight coins (how appropriate) from the milled 8 Reales series minted in Mexico City during Spanish rule. The years represented by this set, 1732-1821, comprise a significant section of history in the Americas. After all, these coins were the primary specie circulating throughout the Americas and were the preferred currency for trade with the Far East. It was the time of the establishment and expansion of the USA and the end of the Viceroyalty of New Spain and the birth of independence in Central and South America. Within the current NGC boundaries, I believe this type set is the ultimate showcase for 8 reales coins.
    I naively thought I could find nice raw examples to fill in the slots that I don't have covered by my Charles III portrait collection but the NGC graders had different opinions. Not to be dissuaded, I sought and found some decent slabbed coins and finally completed the set only to discover that the preeminent world coin collector, Mr. Rudman, had created several sets from his awesome collection of mint state pillar dollars. I was so many points away from first place it wasn't funny.
    I continued to make small improvements to my set as the opportunity arose. And then, this year, to my surprise, Mr. Rudman made some changes to his Mexico City sets that left me in first place. I wasn't sure if it would last -- I know he has three coins from his pillar dollar collection that would easily pass my best eight coin total -- but I determined to polish my coin descriptions so that I would have a presentable set. Whether it was graciousness on the part of Mr. Rudman or not, I am thankful for the inspiration that it gave me to dress up these eight special coins.
    Please drop by for a visit. I prefer to view short sets and this one fits the bill at only eight.
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=117382
    Here's a composite picture of the first coin and its comment text:
    "Philip V was the first of the Bourbon kings of Spain, appointed to the head of an empire weakened by war and heavily in debt. Much of the silver from the New World, like this coin, quickly went into the hands of Spain's creditors. I tried to fill the Philip V slot in my Mexico City Type set with a raw coin purchase but gave up after 5 attempts. This was a slabbed purchase from the Stack's Bowers June 2011 Baltimore Auction. Lot #6170. KM-103; FC-16a; El-103; Gil-M-8-16."
    ~jack

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